The Business Times, 5 May 2011
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2011-05-05
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The Business Times
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Title Section23 2011-05-05 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|il A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Thursday, May 5,201123 words
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579 2011-05-05 1 RONNIE LIM - Two long underground tunnels will be built to connect electricity consumers to power stations By RONNIE LIM [SINGAPORE] Singapore is embarking on the next major phase potentially costing billions of dollars of an extra-high-voltage underground power transmission network. This kicks off with579 words
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Article145 2011-05-05 1 H ST INDEX 3,113.76 (-39.81) H ST INDEX FUTURES 3,096 (-39) H SIMSCI 365.69 (-4.55) H SIMSCI FUTURES 362.50 (-5.30) FOREX US$ S$ US$ (S$ per US$) 1.229 (US$/S$ per 1.700 2.090 EURO (US$/S$/E) 1.484 1.825 Foreign currency per US$ S$ YEN 81.00 65.90 RM 2.977 2.421 HK$145 words
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Article, Illustration834 2011-05-05 1 GRACE LEONG - It says 30 operators have already filed applications for licences in S’pore By GRACE LEONG [SINGAPORE] More than 30 junket-operating licence applications are believed to be before Singapore’s Casino Regulatory Authority (CRA) and Las Vegas Sands Corp (LVS) wants a piece ofTHE NEW PAPER FILE PHOTO - 834 words
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Page 1 Advertisements
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Advertisement222 2011-05-05 1 BANKING Standard Chartered cuts 800jobs worldwide PAGE 3 CORPORATE RESULTS StarHub Q1 net soars 62% PAGE 5 PROPERTY Home sales in Hong Kong fall to 2-year low PAGE 28 OPINION The eight Rs of Chinese innovation PAGE 23 GENERAL ELECTION 2011 PM Lee, a self-confessed newbie, chats with netizens on222 words
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TOP STORIES
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Article, Illustration641 2011-05-05 2 LEE U-WEN - He receives over 5,000 questions and comments in the hour-long session By LEE U-WEN [SINGAPORE] At the onset, Prime Minister Lee Hsien Loong had one disclaimer: “This is my first time doing this, so please don’t flame me, I’m a newbie.LIANHE ZAOBAO - 641 words
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Article445 2011-05-05 2 Power flows through the bowels of the earth SINGAPORE is embarking on the next major phase of an extra-high-voltage underground power transmission network. This kicks off with the building of two extensive high-voltage underground cable tunnels comprising a 16.5-kilometre east-west stretch to connect power stations in the west445 words
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761 2011-05-05 2 ANNA TEO - They are a waste of a citizen’s right and with a better opposition slate, they would be a shame COMMENTARY By ANNA TEO WITH the opposition out in force this time, in both quantity and quality, will the 2011 General Election (GE)761 words
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590 2011-05-05 2 GENEVIEVE CUA - Citi Private Bank sees clients still keen to be invested By GENEVIEVE CUA [SINGAPORE] Singapore’s elections are unlikely to affect property prices, says Citi Private Bank chief executive (Asia Pacific) Aamir Rahim. “Investors look at simple facts: Singapore’s stability and continuity in its policy590 words
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250 2011-05-05 2 JOYCE HOOI - By JOYCE HOOI [SINGAPORE] The Singa-pore-registered MT Gemini, a chemical tanker that is suspected to have been hijacked last Saturday in Kenyan waters, has come to a stop off the north-east of Somalia. Its ship managers Glory Ship Management Pte Ltd said yesterday that250 words
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Article, Illustration751 2011-05-05 3 ANTHONY ROWLEY - ADB gazes into its crystal ball, says rise of Asia is not pre-ordained By ANTHONY ROWLEY in Hanoi BY 2050 Asia could be vastly richer than it is now, with an even distribution of wealth, or it could enter a “middle income trap”PHOTO: REUTERS - 751 words
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522 2011-05-05 3 SIOW LI SEN - But by year-end, the bank sees net total to be up by 1,000 By SIOW LI SEN [SINGAPORE] Standard Chartered plc has cut 800 jobs groupwide but is keeping mum on the impact on Singapore which has seen the bank hire aggressively over522 words
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Page 2 Advertisements
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Advertisement18 2011-05-05 2 Grow Your Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices MATS NOTICES18 words
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Page 3 Advertisements
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Advertisement362 2011-05-05 3 ASIA TRADER AND INVESTOR CONVENTION 2011 7-8 May 2011, MBS Convention Center www.theATIC.net SINGAPORE SOLID G O LD N UG GETS TO BE WO NL q Renowned Speakers Shuttle Bus from Suntec Convention Centre to ATIC, between 8:30am to 7pm Asian equity markets and commodities prices are making historical highs.362 words
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Advertisement342 2011-05-05 3 35 Ml v o voi"!; KS v-o M v olD;*.VO. lo"* O l-O VO-VO VO-vo vO-vO j; vO-V® rt V 0 'rt.V° n> J O l o v0 VO O VO »lo V° O V° -.ovo* -».%o v o yO v o >o >•0 yO v o »>££*»» v o342 words
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GENERAL ELECTION 2011
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488 2011-05-05 4 CHUANG PECK MING - He says the decision to say ‘sorry’ was carefully considered and it was apt By CHUANG PECK MING PRIME Minister Lee Hsien Loong did not say “sorry” lightly he said it twice when he apologised on Tuesday for some of the mistakes the488 words
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386 2011-05-05 4 JAMIE LEE - By JAMIE LEE THE ruling party and the Opposition have crossed swords over the use of Singapore’s reserves. Economists say that while the debate rages over whether it is better to spend or save now, they agree that overspending can worsen, not curb, inflation386 words
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Article, Illustration611 2011-05-05 4 TEH SHI NING - By TEH SHI NING GREATER contest from the opposition has already had an effect on the incumbent government, Workers’ Party chief Low Thia Kiang said last night, pointing to the Prime Minister’s apology and the change in tone on housing and otherARTHUR LEE - 611 words
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472 2011-05-05 4 JAMIE LEE - By JAMIE LEE THE line spouted by Community Development, Youth and Sports Minister Vivian Balakrishnan on public assistance was yesterday brought up by the man himself, who acknowledged that it was a mistake. He also argued that there was no squandering of the Youth472 words
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566 2011-05-05 4 LEE U-WEN; FELDA CHAY - By LEE U-WEN FELDA CHAY A RECORD 15 election rallies will take place across Singapore on the final day of campaigning today as political parties look to end the hustings with one last flourish to woo voters. Eleven rallies were566 words
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Article, Illustration873 2011-05-05 4 UMA SHANKARI - By UMA SHANKARI SINGAPORE Democratic Party (SDP) candidate Vincent Wijeysingha knew that there was a high chance that his private life would be dragged into the campaign season, but he decided to run for Parliament anyway. “I think it’s sensible (toFILE PHOTO - 873 words
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Page 5 Advertisements
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Advertisement13 2011-05-05 5 RCB Reg No: *****0202G Draw at 6.30pm at PoHo For details, visit www.singaporepools.com.sg13 words
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COMPANY NEWS
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Article, Illustration426 2011-05-05 6 CONRAD TAN - Year-on-year fall due to lower investment gains; profit up 86% q-o-q By CONRAD TAN GREAT Eastern Holdings’ first-quarter net profit fell 11 per cent to $158.7 million compared to a year earlier due to lower investment gains. But its new business embedded value or426 words
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Article, Illustration597 2011-05-05 6 KALPANA RASHIWALA - By KALPANA RASHIWALA ROXY-PACIFIC Holdings, which posted an 11 per cent rise in first quarter net profit to about $10 million, is planning to launch two projects for sale in the second half of this year. One is a five-storey freehold residential developmentFILE PHOTO - 597 words
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511 2011-05-05 6 MICHELLE TAN - By MICHELLE TAN ARA Asset Management (ARA) posted a 19 per cent jump in its first-quarter net profit to $14.8 million. It also proposed a one-for-10 bonus issue. In a phone interview yesterday, ARA group CEO John Lim highlighted that511 words
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Article, Illustration1244 2011-05-05 6 Dubai aims for first Reit listing within a year, two UAE firms plan offers in M’sia Bloomberg [JAKARTA] Persian Gulf companies are planning their first syariah-compli-ant real-estate investment trusts, after shares in Singapore’s debut offering recovered from the lowest level since it wasBloomberg; SABANA FILE PHOTO - 1,244 words
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673 2011-05-05 7 LYNN KAN - Directors due for re-election needs scrutiny by shareholders: board By LYNN KAN THE remaining Pacific Healthcare Holdings board members yesterday lashed out against suggestions made by its former executive director Martin Huang, a well-known plastic surgeon, that there were poor corporate governance standards at the673 words
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667 2011-05-05 7 Bloomberg [CANBERRA] Australia awarded an operating licence to Chi-X Australia Pty, opening the Asia-Pacif-ic’s fourth-largest equity market to competition from foreign-owned exchanges for the first time. The country’s government yesterday granted a licence to Nomura Hold-ings-owned Chi-X, Financial Services Minister Bill Shorten and TreasurerBloomberg - 667 words
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Article, Illustration365 2011-05-05 7 MINDY TAN - By MINDY TAN DESPITE a surge in revenue, Food Empire Holdings posted a 15 per cent year-on-year fall in net profit to US$3.4 million for the first quarter ended March 31, 2011. One factor was that the corresponding quarter last year included365 words
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381 2011-05-05 5 EMILYN YAP - Investors baulk at Japan’s worsening nuclear crisis, rising debt woes in EU, US By EMILYN YAP ACTIVITY in Singapore’s securities market dipped further in April as investors took cover from Japan’s worsening nuclear crisis and growing debt woes in Europe and the US.381 words
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583 2011-05-05 5 FELDA CHAY - By FELDA CHAY THE Singapore Exchange (SGX) has queried The Think Environmental Company (TTEC) on two of its latest gold-mining investments, asking how some of the production targets were derived given that feasibility studies on the mining sites were not carried583 words
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Article527 2011-05-05 5 WINSTON CHAI - By WINSTON CHAI THE popularity of smartphones has turned from bane to boom for StarHub in one year with the operator’s first-quarter net profit soaring 62.1 per cent to $69.1 million, from $42.7 million a year earlier. Earnings per share for the three527 words
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Article, Illustration761 2011-05-05 5 LYNETTE KHOO - By LYNETTE KHOO IF an independent director (ID) provides professional services to a company whose board he sits on, should he still be considered independent? This question has resurfaced this time at China Sky Chemical Fibre. This has renewed761 words
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COMPANY BRIEFS
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Article69 2011-05-05 5 CHEMICAL-RELATED China Energy Ltd remained in the red for the first quarter ended March 31, 2011. Net loss was at 53.12 million yuan (S$10.1 million) compared with a net loss of 51.57 million yuan a year ago. Sales, however, was up 42.4 per cent69 words
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81 2011-05-05 5 TEE International Ltd announced that its subsidiary, TEE M&E Engineering, has been awarded the Bertam DAF Phase 2 Water Treatment Plant project in Malaysia worth RM63.3 million (S$26.4 million). The contract was awarded through a joint venture arrangement with Perkasa Sutera Sdn Bhd.81 words
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Article37 2011-05-05 5 UOL Group’s wholly owned subsidiary UOL Equity Investments yesterday bought 41,000 shares in United Industrial Corporation (UIC) for $2.83 apiece. This raised UOL’s interest in UIC to 42.385 per cent.37 words
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Article36 2011-05-05 5 CAPITALAND’S service residence arm The Ascott Limited has secured a contract to manage a 229-unit service residence in Doha. Ascott Doha is its second property in the capital city of Qatar.36 words
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69 2011-05-05 5 POLLUX Properties Ltd said that Giorgio Residences Pte Ltd has exercised its option to buy 12 out of the 16 units at Ocean Apartments along East Coast Road for S$12.1 million. Giorgio Residences is 100 per cent owned by Pollux's subsidiary, Kovan Properties Pte Ltd.69 words
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Page 6 Advertisements
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Advertisement161 2011-05-05 6 IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF O.C.C. HOLDING PTE LTD (In Member’s Voluntary Liquidation) Company Registration No: *****0101E NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 (2) of the Companies Act, Cap. 50, that a Final Meeting of161 words
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Page 7 Advertisements
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Advertisement217 2011-05-05 7 Coffee keeps you awake. This lets you dream X v Sr^vT^. .-•i The ully automatic espresso machine CM 250. Coffee is something you can discover anew with every cup you drink a reason for an almost infinite range of variations. The fully automatic espresso machine CM 250 is a true217 words
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SINGAPORE MARKETS
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Article, Illustration576 2011-05-05 8 R SIVANITHY - The ST Index’s loss for the week is 66 points so far, in line with a 1.3% loss in HK and 2.3% loss in China STOCKS R SIVANITHY Senior Correspondent THE Straits Times Index yesterday fell 39.81 points or 1.3 per cent to 3,113.76 inSource: Bloomberg - 576 words
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Article186 2011-05-05 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 2 8 4 0 0 0 2 8 4 Manufacturing 38 73 56 2 5 13 40 78 69 Commerce 12 22 20 1 3 3 13 25 23 Tpt/Stor/Comms 5 27 12186 words
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Article123 2011-05-05 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 71,529 71,529 150,402 150,402 Manufacturing 195,196 34,211 229,407 232,256 5,610 237,866 Commerce 102,853 9,049 111,902 133,006 1,842 134,848 Tpt/Stor/Comms 140,114 6,114 146,228 250,674 465 251,139 Finance 34,398 6 34,404 332,124 1 332,125 Construction 17,611 25123 words
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Article114 2011-05-05 8 Stock name Close Change CapMallsAsia 1.690 -0.050 CapitaLand 3.270 -0.050 CapitaMall 1.860 -0.010 CityDev 11.040 -0.400 ComfortDelGro 1.480 -0.040 DBS Grp 14.760 -0.100 F&N 6.230 -0.050 GLP 1.970 +0.010 Genting SP 2.080 -0.040 Golden Agri 0.650 -0.010 HK Land 7.440 +0.040 JMH 48.000 -1.080 JSH 28.400114 words
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Article65 2011-05-05 8 May 4 VALUE CLOSE BT OB/OS -536.00 -29.00 BT CADI -*****.00-136.00 BT 10-day MA -*****.00 -54.00 FTSE ST Mid Cap 757.09 -6.95 FTSE ST Small Cap 541.48 -2.65 FTSE ST All Share 765.03 -8.95 FTSE ST China Top 272.61 -2.18 FTSE ST China 303.04 -1.46 FTSE ST65 words
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Article58 2011-05-05 8 VOLUME Genting SP 123,218,000 Golden Agri 122,962,000 Dyna-Mac 43,699,000 Noble Grp 39,241,000 Transcu Grp 29,508,000 Gallant 28,986,000 RenewableEne 28,037,000 HPH Trust US$ 26,212,000 NexGenSCom 22,880,000 SingTel 22,664,000 VALUE($) Genting SP 256,263,020 DBS Grp 117,475,252 Keppel Corp 99,140,820 OCBC Bk 84,262,121 Noble Grp 83,509,450 Golden Agri 79,916,360 UOB58 words
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BROKERS’ TAKE
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Article, Illustration326 2011-05-05 8 May 4 close: $1.54 DBS VICKERS SECURITIES, May 4 SLIGHTLY ahead of expectations: Wing Tai’s Q3 2011 and 9M11 results came in slightly ahead of expectations, largely due to higher than projected associate contributions. The group reported a 37 per cent jump in Q3 revenue to $205Source: Bloomberg - 326 words
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Article427 2011-05-05 8 JAMIE LEE - Compiled by JAMIE LEE Agri May 4 close: $2.05 DMG PARTNERS SECURITIES, May 4 INDOFOOD Agri’s (IFAR) 1Q11 earnings came in above street’s and our expectations at 514.3 billion rupiah (+66 per cent y-o-y) on the back of higher ASPs and sales volume for palm products. We427 words
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Article136 2011-05-05 8 Ebit earnings before interest and tax Ebitda earnings before interest, tax, depreciation and amortisation EPS earnings per share FY fiscal/financial year H1, H2 first or second half m-o-m month on month NAV net asset value 9M nine months P/B price/book value (ratio) PE price/earnings (ratio) Q1, Q2, Q3 first,136 words
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Article, Illustration527 2011-05-05 8 CURRENCIES Reuters [NEW YORK] The dollar hovered just above a three-year low yesterday and the euro jumped as data showed that the United States added fewer private jobs than expected in April, boosting views that US interest rates would remain low.Reuters; REUTERS - 527 words
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Article115 2011-05-05 8 BY CENTS CLOSE UP Hyflux 6% CPS 10 ***** 54.0 0.5 DBXT FTVietnam 10US$ 3268 34.4 0.9 DBXT AUDMM 5SG$ ***** 30.0 0.1 OCBC Bk 5.1%NCPS 100 ***** 30.0 0.3 DBXT MSUSA 10US$ 3232 19.7 0.5 DBS Bk 4.7% NCPS 100 ***** 12.0 0.1 DBXT MSEmerAsi 10US$ 415 9.8115 words
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Article119 2011-05-05 8 BY CENTS CLOSE DOWN DBXT MSKorea 10US$ 6621-142.6 -1.7 JMH 4800-132.7 -2.2 JSH 2840-122.9 -3.4 DBXT SPASX200 10US$ 3716-110.6 -2.4 GLD 10US$ *****-105.7 -0.6 DBXT MSAsExJp 10US$ 3455 -95.9 -2.2 DBXT Nifty 10US$ ***** -79.9 -0.5 IS S&P500 ***** -52.9 -0.3 UOB 5.05%NCPS 100 ***** -50.0 -0.5 Kep Corp.ES.1105119 words
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SINGAPORE NEWS
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Article, Illustration719 2011-05-05 9 CHEN HUIFEN - E50 forum at Shangri-La Hotel draws over 200 business leaders By CHEN HUIFEN SUCCESSION planning is not just about ensuring sustainability of a business, but it is also as much about injecting new ideas and rejuvenation of a business model that may be719 words
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Article, Illustration343 2011-05-05 9 UMA SHANKARI - By UMA SHANKARI TWO Singaporeans made it into Fortune Magazine’s inaugural ranking of Asia’s 25 most powerful people in business Temasek Holdings executive director and chief executive Ho Ching (who was ranked 14th), and CapitaLand chief executive Liew Mun Leong (23rd). The 57-year-old343 words
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252 2011-05-05 9 REBECCA LIU - By REBECCA LIU WITH the economic recovery in full swing, the tourism industry is similarly experiencing a boom, giving rise to a manpower shortage especially in the travel services sector. Increasing demand for new leaders in the sector, coupled with a252 words
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278 2011-05-05 9 MAXIE AW YEONG - By MAXIE AW YEONG THE National University of Singapore (NUS) has topped the charts as the best university for medicine in Asia, in the new Quacquarelli Symonds (QS) World University Rankings by Subject for Life Sciences and Medicine. NUS was ranked 18th globally.278 words
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290 2011-05-05 9 CLOSE to 3,700 contractors, developers, equipment manufacturers, technology solutions providers and building consultants participated in last week’s debut staging of BuildTechAsia 2011. The event, held in conjunction with the Singapore Construction Productivity Week, featured over 140 exhibitors from nine countries showcasing solutions290 words
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390 2011-05-05 9 NISHA RAMCHANDANI - By NISHA RAMCHANDANI SINGAPORE’S manufacturing economy grew for a seventh straight month in April and at a faster pace than the previous month. At 52.5 the highest reading since December 2009 Singapore's Purchasing Managers’ Index (PMI) for April was 2.4 points above March’s reading.390 words
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149 2011-05-05 9 SINGAPORE experienced unusually heavy and intense rainfall yesterday, causing flash floods in parts of the island. According to the Public Utilities Board (PUB), about 90mm of rain fell in less than one hour, between 3pm and 4pm. This is more than 50 per149 words
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347 2011-05-05 9 TWO Singapore companies, Silver Wave Energy Pte Ltd and BFI Holding Pte Ltd, have formed a joint venture with Star Field Corporation and Star Holding Corporation of Japan to explore oil and gas in Myanmar. The joint venture company, Silver347 words
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ECONOMY WATCH
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Article, Illustration679 2011-05-05 10 As growth goes lower than forecast, investors will reduce yield predictions Bloomberg [SINGAPORE] Morgan Stanley and Goldman Sachs Group Inc are dropping bets against Treasuries. Economic growth is falling short of forecasts, and market participants may need to reduce their yield predictions, JimBloomberg; BLOOMBERG - 679 words
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Article, Illustration558 2011-05-05 10 Reuters [CHICAGO] John Williams, the United States Federal Reserve’s newest policymaker, is unlikely to call for a quick exit from Fed monetary stimulus despite his long association with sharp critics of super-easy policy, economists who know him say. The new San Francisco Federal ReserveReuters; REUTERS - 558 words
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368 2011-05-05 10 It is looking to diversify its growing forex reserves Reuters [SEOUL] South Korea is preparing to allocate part of its US$307 billion in foreign exchange reserves to yuandenominated assets in an effort to diversify its increasing reserves, officials from the centralReuters - 368 words
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382 2011-05-05 10 Reuters [SAO PAULO] Brazil central bank president Alexandre Tombini said on Tuesday that the authorities are monitoring a borrowing spree by domestic companies in international capital markets. A decision by the United States to print more dollars to help spark an economic recovery isReuters - 382 words
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580 2011-05-05 10 Scrutiny is a setback for Goldman, but new claims unlikely Bloomberg [WASHINGTON] US senators formally referred to the Justice Department and the Securities and Exchange Commission an investigative report that found Goldman Sachs Group misled clients about mortgage-linked securities. Senators Carl Levin ofBloomberg - 580 words
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MALAYSIA/INDONESIA
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576 2011-05-05 11 PAULINE NG - Developers insist higher prices limited mainly to Klang Valley and Penang By PAULINE NG By in Kuala Lumpur MALAYSIA’S National House Buyers Association (NHBA) has proposed further curbs to bank financing and the reintroduction of a real property gains tax (RPGT) scale576 words
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422 2011-05-05 11 S JAYASANKARAN - By S JAYASANKARAN in Kuala Lumpur BANK Negara Malaysia (BNM), the country’s central bank, is expected to hold its policy rate steady at 2.75 per cent at its bimonthly monetary meeting today. This would run counter to other emerging economies which have raised rates422 words
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551 2011-05-05 11 Bloomberg [JAKARTA] Indonesia’s small to medi-um-sized companies will likely drive a 19 per cent gain in the Jakarta Composite index this year as shares of their larger peers already reflect the potential for earnings growth, the manager of the nation’s third-biggest mutualBloomberg - 551 words
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327 2011-05-05 11 AP [KUALA LUMPUR] Malaysia’s biggest carmaker Perodua said yesterday that it expects sales to rise 3.4 per cent this year with the launch of a new compact car and rejected a government proposal for it to combine with domestic rival Proton. Managing director Aminar RashidAP - 327 words
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Page 11 Advertisements
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Advertisement156 2011-05-05 11 V* 1 tif' SS J ft "M 1 m W4 n l&i vj iT-? **V>I ?-Sf* .r-Hlii-k ?*?ab 38?0??V*» 4 tt: UMA ■ir Only the 50 most enterprising will reach the top The Prestigious E50 Awards Is Now Open For Entry The best of the breed will emerge the tallest.156 words
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GREATER CHINA/INDIA
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698 2011-05-05 12 Huge investments resulting in many jobs could accrue if barriers are not put up: report Reuters [WASHINGTON] Tens of billions of dollars of Chinese investment could flood into the United States in the next decade, creating a multitude of American jobs if officialsReuters - 698 words
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Article, Illustration771 2011-05-05 12 An Abu Dhabi firm, Goldman Sachs fund are among those Reuters [MUMBAI] For Ravindra Bahandare, the source of cash to fund his textile trading firm was not a bank, but a 14-gram gold chain he pawned for 20,000 rupees (S$522.2) at one ofReuters; REUTERS - 771 words
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Article, Illustration347 2011-05-05 12 Bloomberg [WASHINGTON] China has failed to deliver on pledges made to the US to guarantee equitable treatment of foreign investors, creating “real frustrations”, Commerce Secretary Gary Locke said. Mr Locke, who is waiting for Senate confirmation to be the next US ambassador inBloomberg - 347 words
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252 2011-05-05 12 Bloomberg [HONG KONG] Barclays Wealth, the wealth management division of the UK’s second-largest bank by total assets, has appointed Carole Cheung as a Hong Kong-based managing director and senior client partner. Ms Cheung will focus on managing relationships with ultra high net worth clientsBloomberg - 252 words
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487 2011-05-05 12 Reuters NYT [BANGALORE] India’s services sector gained momentum in April, with strong growth in new business orders despite stubbornly high inflation and expectations of further interest rate increases, a survey showed yesterday. The seasonally adjusted HSBC Markit Business Activity Index, based on aReuters; NYT - 487 words
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Advertisement21 2011-05-05 12 Lianhe Zaobao ft tk From commando officer I to coating company boss M&drRIOT To subscribe, call 6388-3838 or go to sphsubscription.com.sg21 words
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WORLD
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513 2011-05-05 13 ISM index declines to 52.8 from 57.3 in March, the weakest pace in 8 months LATEST US DATA Bloomberg [WASHINGTON] Service industries in the US expanded less than forecast in April and at the weakest pace in eight months as orders slowed. TheBloomberg - 513 words
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Article, Illustration406 2011-05-05 13 Humanitarian crisis forces thousands to flee the country Reuters [TRIPOLI] Libya’s army fired volleys of rockets at the rebel-held town of Zintan in the Western Mountains, pressing on with a campaign that has created a humanitarian crisis and forced thousands to fleeReuters; AFP - 406 words
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450 2011-05-05 13 Bloomberg [BOSTON] Federal Reserve Bank of Boston president Eric Rosengren said that record stimulus is necessary to spur the “anaemic” economy and that raising interest rates to combat increasing food and fuel prices would impede growth. “With significant slack in labour markets, stableBloomberg - 450 words
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Article374 2011-05-05 13 LEE U-WEN - By LEE U-WEN [SINGAPORE] Thai Prime Minister Abhisit Vejjajiva could dissolve Parliament next Monday, the same day that a court is expected to rule on whether election laws passed earlier this year comply with the constitution. Talk was rife on Tuesday that Mr Abhisit would374 words
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Article, Illustration629 2011-05-05 14 The commodities trader plans to sell shares at 480-580 pence each Bloomberg [LONDON] Glencore International AG, planning the world’s biggest initial public offering this year, said that the share sale in London and Hong Kong this month may value the company at aboutBloomberg; AFP - 629 words
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Article, Illustration558 2011-05-05 14 AFP [BRUSSELS] Europe set new targets on Tuesday to halt a mainly man-made loss of species costing billions each year as campaigners called for tougher environmental demands on farmers. “It’s our natural capital that we are spending too fast and we allAFP - 558 words
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386 2011-05-05 14 Bloomberg [HANOI] Asian governments took a step towards boosting the use of their local currencies in regional trade as policymakers seek to reduce reliance on the dollar. China, Japan, South Korea and 10 South-east Asian governments ordered their finance ministry deputiesBloomberg - 386 words
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1000 2011-05-05 14 KAREL DE GUCHT - COMMENTARY By KAREL DE GUCHT in Jakarta The writer is the European Union’s Commissioner for Trade. Indonesia is the current chair of Asean THE first Asean-European Union Business Summit will be launched in Jakarta today, where the goal is to have an enhanced1,000 words
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Article, Illustration638 2011-05-05 16 Justice Commissoner also proposes extending union rules to other areas NYT [BRUSSELS] As pressure grows for technology companies such as Apple and Google to adjust how their phones and devices gather data, Europe seems to be where the new rules are beingNYT - 638 words
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Article, Illustration418 2011-05-05 16 Reuters [NEW YORK] Sony has hired outside investigators to help clean its networks and catch the people behind a massive breach that exposed the personal data of more than 100 million video game users. The Japanese electronics giant has retained aReuters; REUTERS - 418 words
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Article, Illustration400 2011-05-05 16 AFP [LONDON] Formula One chief Bernie Ecclestone said that the sport was not for sale after Rupert Murdoch’s News Corp and Italy’s Exor confirmed that they were considering forming a consortium to mount a possible takeover. In comments made in LondonAFP - 400 words
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281 2011-05-05 16 Bloomberg [HANOI] Vietnam’s central bank has raised its repurchase rate for the fifth time this year as officials intensify the fight against the highest inflation since 2008. The repurchase rate for the sev-en-day term was increased yesterday to 14 perBloomberg - 281 words
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464 2011-05-05 16 Operating margins at 11.9% on strong sales of 5-Series, X3 Reuters [MUNICH] Bayerische Motoren Werke AG, the world’s largest maker of luxury vehicles, earned more money per car than ever before in its 95-year history, lifted by surging deliveries of the revampedReuters - 464 words
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477 2011-05-05 16 Reuters [OTTAWA] Canada wants most of its new policy on whether to lift foreign ownership limits in the telecoms industry to be ready by the end of the year, Industry Minister Tony Clement told Reuters on Tuesday. Critics complain that the ConservativeReuters - 477 words
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517 2011-05-05 17 Flight of residents adds evidence to the govt’s outlook for little to no growth Bloomberg [WELLINGTON] New Zealand had the biggest net outflow of residents in more than 10 years in March, an exodus spurred by the South Island earthquake that killedBloomberg - 517 words
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399 2011-05-05 17 Reuters [NEW YORK] The rich keep getting richer, both here in the US and especially in the world’s emerging markets. Public and private investments controlled by the richest families are expected to more than double in value to US$202 trillion by 2020, from US$92Reuters - 399 words
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Article, Illustration406 2011-05-05 17 NYT [NEW YORK] Despite a new way to measure newspaper circulation, the top four daily papers are unchanged from six months ago, according to a report released on Tuesday by the Audit Bureau of Circulations. Among newspapers distributed Monday through Friday,NYT; AFP - 406 words
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400 2011-05-05 17 Reuters [DETROIT] General Motors Company (GM), Ford Motor Co and Chrysler Group showed much faster US sales growth rates in April than Toyota and most other Japanese brands, in a sign that supply disruptions as a result of Japan’s March 11 earthquake areReuters - 400 words
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Article, Illustration620 2011-05-05 17 AFP [WASHINGTON] Australian Foreign Minister Kevin Rudd on Tuesday pressed for a global effort to bring China into institutions, saying that the future of the world economy depended on it. Mr Rudd, a Manda-rin-speaking China expert and former prime minister, said that bodiesAFP - 620 words
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Article, Illustration1521 2011-05-05 18 SEC and CFTC struggling to fill crucial jobs, enforce new rules, upgrade market surveillance technology and pay for travel NYT GOVERNMENT regulators on the Wall Street beat have long been outnumbered and outspent by the companies they are supposed to police. But even after receivingNYT; PHOTOS: AFP, REUTERS - 1,521 words
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478 2011-05-05 18 Accounting firm says the continent is on upward trajectory Reuters [LONDON] Africa could attract billions of dollars in new investment over the next few years as emerging market investors search for higher returns and foreign perceptions of risk improve, ErnstReuters - 478 words
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Page 13 Advertisements
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Advertisement32 2011-05-05 13 YOU MUST-HAVE ESOU CE BOOK! BRAND NEW ANNUAL MAGAZINE OUT NOW! 3/22/11 10:33:50 AM SPACE PLANNING DECOR TRENDS LIGHTING MATERIALS HOMES BATHROOMS KITCHENS WARDROBES GADGETS Available at all major bookstores and www.homeanddecor.com.sg32 words
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Advertisement166 2011-05-05 13 m y t Bnoadcastlisia2011 Suntec Singapore 21-23 JUNE 2011 10:30am 6pm 24 JUNE 2011 10:30am -4pm Asia's Most Relevant Comprehensive ICT, Digital Media Entertainment Event Witness the latest technologies in 3D, Animation and VFX, Cinematography, Digital Media Asset Management, HbbTV IPTV, HD Technology, Playout Services and many more Network with166 words
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Advertisement301 2011-05-05 13 SEMICON* Singapore2011 Show up to Win Your iPad 2 If you have registered as a visitor of SEMICON Singapore 2011 before April 28, you must show up at the daily lucky draw to win your iPad2! 11-13 May 2011 Suntec Singapore, Singapore www.semiconsingapore.org JM Organized by: semi Endorsed by: |B]Sl301 words
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Advertisement11 2011-05-05 14 news.omy.sg X ge* Mzmmsm Vi \J an IIP •K yzone.omy.sg ***«as11 words
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FOCUS: IMPACT OF JAPAN QUAKE
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Article, Illustration1239 2011-05-05 15 ANTHONY ROWLEY - The likely impact of Japan’s disasters on global production is starting to hit home only now. reports ANTHONY ROWLEY WHENJapan'sFukushima nuclear power plant was reduced largely to a pile of twisted metal and runaway reactors, there was at least a manual to show howREUTERS, AP - 1,239 words
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Page 15 Advertisements
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Advertisement255 2011-05-05 15 NOTICE Raffles Education Corporation Limited intends to establish a financing facility with International Finance Corporation (“IFC”), a member of the World Bank Group, to support its continuing expansion. As part of its environmental due diligence, IFC has prepared an Environmental and Social Review Summary and Summary of Proposed Investment for255 words
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Advertisement41 2011-05-05 15 Tuck into CEOTHEGREAT outooc kCHARITY Feast on Hokkien mee cooked by Dr Dennis Wee, Chairman, Dennis Wee Group Feel good because all proceeds go to charity When:Tomorrow (7-9pm) Where: Food Republic Beer Garden at St James Power Station the new paper41 words
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Page 17 Advertisements
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Advertisement42 2011-05-05 17 tabla! THE HEARTBEAT OF THE INDIAN COMMUNITY Mothers' memories To celebrate Mother's Day, four mothers share their journey of motherhood with tabla! GET YOUR INVITE TO FAR EAST ORGANIZATION'S PROPERTY PARTY GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS WHILE STOCKS LAST42 words
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Advertisement24 2011-05-05 17 How to run a business without running out of ideas SME May/June 2011 Outnowwithabrandnewlook! +8/9>/"->4/<#0/5%624=2>?-2-9! +;<00-!!=!656>>-#/$!-7$’0/2$=.-20-62.!>#6>-"4 +8/9>/3#-6:=2>/>?-,->?-#762.! +1?-29/#:=!$<2$/#!>6$$(>?62:!>/>?-*&) +*?-0:/<>65/3=7-%?/2->?6>7->!06#.=/7/"=!>!5/2=>/#>?-=#%6>=-2>! AvailableatCaltex,Esso,ShellandSPCpetrolstations, 7ElevenandCheersstoresandleadingbookstores Tosubscribe($30forsixissuesdeliveredtoyourofficeorhome),pleasecall6388-3838. GetacomplimentarycopyifyouareaTNTclient,whilestockslast! Producedby24 words
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Advertisement235 2011-05-05 18 Global Manchester Business School ■Think Do you aspire to be in the best Doctoral Programme in the world? i st in Financial Times 2011 for Doctoral Programmes We aim to invite only the brightest minds onto our Doctoral Programmes. 40% of our DBA students are company directors, CEOs,consultants and entrepreneurs.235 words
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AVIATION
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Article, Illustration396 2011-05-05 19 VEN SREENIVASAN - Revenue passenger km up 38.5% in March; available seat km up 43.4% By VEN SREENIVASAN [SINGAPORE] A restructured and resurgent Jetstar Asia continued to chalk up strong growth through the past 12 months into March 2011. The Singapore-based budget carrier chalked upFILE PHOTO - 396 words
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Article3221 2011-05-05 19 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ455 1300 KU6458 1415 SQ458 1415 EY473 1955 VA7473 1955 Adelaide LH9771 1745 LH9770 2350 SQ278 1745 SQ279 2350 VS7278 1745 VS7279 2350 9W4081 1820 AF8087 1820 AY5012 1820 BA7381 1820 JL7892 1820 MU8440 1820 QF81 1820 Amsterdam LO40313,221 words
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Article, Illustration387 2011-05-05 19 AFP [SYDNEY] Richard Branson yesterday announced that Virgin’s airline operations in Australia and the Pacific were being rebranded as the carrier tries to grab more market share from Qantas. Domestic carrier Virgin Blue and its international offshoots, Pacific Blue and VAFP; BLOOMBERG - 387 words
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368 2011-05-05 19 It’s currently ranked fourth; expects to top 75m passengers in 2015 AFP [DUBAI] Dubai Airports said on Tuesday it expected to more than double its passenger capacity to 98.5 million in a decade, but travellers will have to wait for anotherAFP - 368 words
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Article, Illustration522 2011-05-05 19 Bloomberg [MUMBAI] Air India cancelled flights for an eighth day yesterday because of a pilot strike, hindering the state-owned carrier’s efforts to pare costs and win back passengers following at least four straight annual losses. The airline flew only 38Bloomberg; AP - 522 words
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Page 19 Miscellaneous
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Miscellaneous343 2011-05-05 19 CRYPTIC CROSSWORD Across 1 Support fool, one with attitude (10) 6 Discharge sets the enemy into retreat (4) 9 Paper in circulation that won’t get read! (6,4) 10 Language used by writers elsewhere (4) 12 Obsequious host, society male to the fore (6) 13 Viewer is more apt to speak343 words
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Page 20 Advertisements
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Advertisement57 2011-05-05 20 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES SHIPPING TIMES WANTED SHIP PROPELLERS URGENTLY, NEW OR USED Contact Mark at 9389 0353 Shippers looking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT57 words
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SHIPPING
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Article3889 2011-05-05 20 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN Camden/New Orleans/Tampico Destination SIAM JADE Muscat/Sharjah/Doha/Bahrain/Dammam3,889 words
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Article, Illustration556 2011-05-05 21 Shipowners turning to ‘contractors’ as world’s navies fail to stem attacks Reuters [POOLE, England] Upstairs in a public house on the English south coast, 18 men are preparing to take on the pirates of the Indian Ocean. It almost feels as ifReuters; AFP - 556 words
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113 2011-05-05 21 AFP [SEOUL] South Korea’s second biggest shipbuilder Daewoo Shipbuilding and Marine Engineering said yesterday its first-quarter net profit more than doubled on strong orders of more expensive ships. Net profit for the three months ended March 31 soared to 238.7 billion won (S$273 million) from 114.8AFP - 113 words
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761 2011-05-05 21 Bloomberg [LONDON] The departure of a ship laden with about 8,000 tonnes of cocoa from the Ivory Coast port of Abidjan two weeks ago may mean the end of a rally that drove prices to the highest in three decades.Bloomberg - 761 words
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331 2011-05-05 21 Bloomberg [NEW YORK] Overseas Shipholding Group, the largest US-based oiltanker owner, has reported a bigger first-quarter loss as shipping rates declined. The loss increased to US$34.6 million, or US$1.15 a share, from US$9.35 million, or 34 US cents, a year earlier, the company saidBloomberg - 331 words
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Article278 2011-05-05 21 SGX '000 May 4 S$ +/-Vol CH Offshore 0.46 unch 87 Chuan Hup Hldg 0.22 unch 5 Cosco Corp 2.16 0.01 ***** CWT Ltd 1.27 -0.03 2329 Ezra Hldgs 1.59 -0.02 5802 First Ship Lea 0.39 -0.01 1364 Freight Links 0.06 unch 234 Grand Banks 0.45 unch 177278 words
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Page 21 Advertisements
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Advertisement27 2011-05-05 21 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 132727 words
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Advertisement15 2011-05-05 21 Experienced shfp maintenance services wanted. Can they find your services here in the Shipping Times?15 words
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EDITORIAL & OPINION
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481 2011-05-05 22 EDITORIAL FOR most governments, going “green” is clearly a matter of political correctness. But the route to achieving a cleaner, carbon-reduced environment is no easy one. Shell recently signalled the closure of its Clyde refinery in Sydney, with the potential loss of 500481 words
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Article, Illustration762 2011-05-05 22 FRANK CHING - THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter@FrankChing1 “THEY feel they are sitting on a volcano,” said a prominent Chinese academic when explaining why the government is cracking down on its762 words
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Article, Illustration1023 2011-05-05 22 LEON HADAR - For him, winning 2012 election could prove to be even more difficult than getting Osama LEON HADAR Washington Correspondent IN THE aftermath of the impressive US military victory in the First Persian Gulf War aka Operation Desert Storm in 1991, then-presi-dent George W HAFP - 1,023 words
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Article, Illustration1112 2011-05-05 23 TAN YING LAN - ‘Chinnovation’ has resulted in new and better ways to create value for both the customer and the corporation By TAN YING LAN The writer is a Kauffman fellow and adjunct professor at Nanyang Technological University. He will be speaking on this topic at EchelonREUTERS - 1,112 words
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Article, Illustration754 2011-05-05 23 LEE KUAN YEW - By LEE KUAN YEW The writer is Singapore’s Minister Mentor. This commentary was first published in the May 2011 edition of ‘Forbes Asia’ THE March 11 earthquake centered on Fukushima and the tsunami that hit the coast at Sendai, demolishing the town andREUTERS - 754 words
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SINGAPORE STOCKS
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Article8401 2011-05-05 24 Transaction date: May 4 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 14.5 8Telecom 17xd 15.5 17.5 7.8 3.6 3.6 81.4 12 4.5 A-Sonic 7xd 6.5 7 1.9 2.6 50.1 618,401 words
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Article1545 2011-05-05 25 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 6.5 4 t AA Grp 4.5 4 4.5 21.4 4.3 202 145 t APStrategic 164 +4 1 164 164 156 165 97.3 1.5 0.51,545 words
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Article9828 2011-05-05 25 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.39/ APS Alpha Fund (USD)!** 1.13/ APS Alpha Fund Cl B SGD!** 1.2/ APS Alpha Fund Cl B USD!** 0.89/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM9,828 words
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Article239 2011-05-05 25 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 38 AVJennings A47.5 -2 8 47.5 47.5 48.5 50.5 3.6 7.4 3.8 123.7 55 16 Genting HK US$ US41.5 +0.5 4058 41.5 40.5 41 41.5 2732.6239 words
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Article858 2011-05-05 25 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124 108 ABF SG Bond ETF 111.5 -8.5 5 111.5 111.5 111.5 119.5 509 1075 761 CIMBAsean40 100US$ US1067 1045 1053 42.7 350 270 DBS STI858 words
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FINANCE & COMMODITIES
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374 2011-05-05 26 In local curr In S$ In US$ dy yr dy yr dy yr May 3 Index Change Change Change Change Change Change World Index Preliminary 942.8 -0.2 5.0 -0.2 3.6 -0.5 8.2 EAFE Preliminary 816.3 -0.3 1.9 -0.4 3.7 -0.7 8.3 Europe Preliminary 1217.8 -0.3374 words
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Article178 2011-05-05 26 May 4 May $S Offer Bid 0vernight 0.02 0.01 1-month 3/8 1/8 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.01 US$ Offer Bid 7 days 0.23 0.13 1 month 0.33 0.23 2 months 0.38 0.28 3 months 0.42 0.32 6 months 0.52 0.42 9 months 0.75 0.55178 words
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Article22 2011-05-05 26 May 4 S$ Bid Offer 1-month 1.2291 1.2294 2-months 1.2291 1.2294 3-months 1.2291 1.2294 6-months 1.2288 1.2291 Source: OCBC22 words
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Article154 2011-05-05 26 May 4 RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) May 11 525.0 525.0 528.0 2 Jun 11 525.0 525.0 525.0 5 Jul 11 513.3 Aug 11 500.0 500.0 500.0 5 Sep 11 485.0 485.0 485.0 5 Oct 11 485.0 485.0 485.0 5154 words
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Article79 2011-05-05 26 May 4 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****N 04.08.2011 0.26 1-Year BY*****X 02.05.2012 0.43 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0V 1.625 01.04.2013 102.20 5-Year N*****0W 1.125 100.01 100.10 100.06 100.06 10-Year NY*****N79 words
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Article107 2011-05-05 26 May 3 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low May 11 1359.25 1390.25 1394.75 1352.00 Jul 11 1363.75 1393.00 1397.50 1355.25 Aug 11 1363.50 1390.50 1394.00 1355.50 Sep 11 1357.75 1381.00 1384.50 1348.75 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low May 11 57.27107 words
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Article77 2011-05-05 26 CRUDE OIL PRODUCTS May 3 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 123.75 -2.44 WTI (Near Mth) 111.06 -2.36 Dubai (1-Mth F) 117.63 1.57 Tapis blend 131.47 1.74 Minas 127.87 1.74 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 119.11 -1.33 Jet Kerosene 139.95 -0.45 US$/barrel Opec Oil77 words
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2499 2011-05-05 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 25 1 2 1 150 7 6.56 36 ASJ Hldgs W*****1 1.5 1 4 10 3.33 9 AlliedTech W*****2 3.5 1 4 30 Asia Water Tech Ltd W*****82,499 words
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Article121 2011-05-05 26 May 04 As at 9am Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.376 1.299 Can dollar 1.314 1.264 Euro 1.855 1.784 Sterling pound 2.064 1.985 NZ dollar 1.006 0.959 US dollar 1.245 1.198 Local dollars to 100 units of foreign121 words
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Article29 2011-05-05 26 May 4 Open High Sett STI May 3104 3104 3096 SIMSCI May 367.5 368.4 362.5 Taiwan May 316.4 317.7 316.9 Source: MF Global (S) Pte. Ltd29 words
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Article65 2011-05-05 26 May 4 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 11 3390 3410 3414 3390 104 4585 Jun 11 3280 3309 3316 3280 1725 ***** Jul 11 3240 3265 3272 3228 ***** ***** Aug 11 3217 325565 words
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Article457 2011-05-05 26 May 4 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Jun11 99.7200 0 3743 Sep11 99.6550 0 2361 Dec11 99.5450 0 1233 Mar12 99.3800 0 5426 EUROYEN TIBOR FUTURES Jun11 99.6750 0 5401 Sep11 99.6725 0 1533 Dec11 99.6700 0 1944 Mar12 99.6575 0 3672 Jun12 99.6850457 words
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Article464 2011-05-05 26 May 4 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.035 7.047 0.731 8.432 48.339 92.826 0.879 11.659 3.230 1.369 91.860 46.527 1.334 7.196 0.936 31.000 32.575 0.638 1.085 Canada 0.967 6.812464 words
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Article85 2011-05-05 26 May 4 (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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths85 words
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Article154 2011-05-05 26 May 4 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3333 1.3349 1.0848 1.0858 Canadian dollar 1.2890 1.2899 1.0488 1.0492 Euro 1.8244 1.8250 1.4843 1.4845 NZ dollar 0.9742 0.9749 0.7926 0.7930 Sterling pound 2.0279 2.0288 1.7499 1.6502154 words
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Article140 2011-05-05 26 May 4 GOLD (US$/oz) May 04 May 03 Hong Kong 1538.50 1547.80 May 03 Apr 28 London 1542.11 1535.40 1542.91 1536.20 Source: Thomson Reuters CAST BAR May 04 (S$) Selling Buying Kilobar 65,030.32 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 146 61 5gm 414 303 10gm 739140 words
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Article70 2011-05-05 26 May 3 May Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2785.50 2758.75 3 months 2797.00 2767.00 Copper, Grade A (US$/tonne) Cash 9322.50 9296.00 3 months 9350.00 9320.00 Lead (US$/tonne) Cash 2525.75 2506.25 3 months 2509.50 2491.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash70 words
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Article82 2011-05-05 26 May 3 COCOA (£/tonne) Close Prev High/Low May 11 1971 1975 1978/1942 Jul 11 1984 1981 1994/1958 Sep 11 1996 1993 2006/1971 Dec 11 2016 2015 2026/1987 COFFEE (US$/tonne) Close Pev High/Low May 11 2598 2531 2603/2544 Jul 11 2611 2555 2619/2573 Sep 11 2629 2575 2636/2595 Nov 1182 words
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BizIT THE BUSINESS OF INFOCOMM TECHNOLOGY
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Article, Illustration772 2011-05-05 27 AMIT ROY CHOUDHURY - It’s to find correct balance between affordability and optimisation, it says and feels they are being excluded from monetisation of apps market, reports AMIT ROY CHOUDHURY reports AMIT ROY CHOUDHURY THE biggest challenge faced by mobile operators in Asia Pacific is to find772 words
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Article, Illustration932 2011-05-05 27 VICTORIA HO - You’ll still need laptop if you’re performing a lot of multi-tasking between applications By VICTORIA HO ABOUT a month ago, my iPhone 3GS unceremoniously coughed its last digital breath, two months past its one-year limited-warranty period. Without the extended AppleCareAFP - 932 words
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256 2011-05-05 27 ANNUAL IT trade show CommunicAsia will launch this year with many firsttime exhibitors. The exhibition organiser, Singapore Exhibition Services, said a number of exhibitors will make their debut at the show, from names such as Tata Communications, 3M Touch Systems, Zynga and VeriFone.256 words
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Article, Illustration609 2011-05-05 27 AFP [SAN FRANCISCO] Google is the new darling of software wizards out to cash-in on the world’s love for customising smartphones with fun, hip or functional applications. Developers once obsessed with “apps” for Apple’s hot-selling iPhones are touting creations tailored for smartphones built onAFP - 609 words
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229 2011-05-05 27 VICTORIA HO - By VICTORIA HO LOCAL jobs portal JobsCentral.com.sg has been acquired by US giant site CareerBuilder.com for an undisclosed sum. The five-year-old Singa-pore-based site also runs a sister Web property in Malaysia called JobsCentral.com.my. The acquisition is a step forward into the South-east Asian229 words
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PROPERTY
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Article, Illustration368 2011-05-05 28 April volume down 37.6% at 7,635; sales value sinks 26.8% to HK$39b Bloomberg [HONG KONG] The number of homes sold in Hong Kong fell to the lowest in more than two years in April as government curbs and rising mortgage ratesBloomberg; BLOOMBERG - 368 words
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1600 2011-05-05 28 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED Emerald Gdn Apt 11/04/2011 999 926 1400 1512 Emerald Gdn Apt 11/04/2011 9991,600 words
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390 2011-05-05 28 Bloomberg [DUBAI] The Ritz-Carlton Hotel Co, the luxury chain owned by Marriott International Inc, plans to open six new hotels across the Middle East within the next three years even as political turmoil engulfs parts of the region. “We look atBloomberg - 390 words
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Article, Illustration948 2011-05-05 29 Spanish minister trying to get British investors to buy unsold holiday homes Bloomberg [MADRID] Spanish Development Minister Jose Blanco was scheduled to persuade UK investors yesterday to purchase unsold vacation homes in a country where more than 50,000 homebuyers have lost the legal rightsBloomberg; BLOOMBERG - 948 words
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Article, Illustration1098 2011-05-05 30 Economists predict Reserve Bank of India is preparing to raise rates again Bloomberg [MUMBAI] Indian property developers, facing interest rates above 20 per cent, may be forced to sell assets as economists predict the Reserve Bank of India is preparing to raiseBloomberg; BLOOMBERG FILE PHOTO - 1,098 words
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Article, Illustration302 2011-05-05 31 Move is to limit the risk of asset bubbles forming in third and fourth-tier cities Reuters [SHANGHAI] China may extend property curbs to the country’s third and fourth-tier cities after investors and developers flocked inland following a harsh clampdown on property prices in majorReuters; REUTERS - 302 words
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309 2011-05-05 31 Indicative price is $1,400-1,500 psf, says agent Colliers [SINGAPORE] Some 43 stra-ta-titled units located on the fourth and sixth storeys of Singapore Shopping Centre have been put up for sale by expression of interest. The units, which have a total floor area309 words
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270 2011-05-05 31 Reuters [WELLINGTON] The number of new dwelling consents approved in New Zealand recovered from a two-year low in March, as the building sector continued to suffer from the devastating earthquake which struck Christchurch in February. The number of consents rose a seasonallyReuters - 270 words
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Article, Illustration629 2011-05-05 32 Bank of England may hold its key interest rate at a record low today Bloomberg [LONDON] UK mortgage approvals were little changed in March as a squeeze on consumers’ incomes weighed on the recovery in the housing market. Lenders granted 47,557 home loans,Bloomberg; REUTERS - 629 words
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265 2011-05-05 32 Bloomberg [SYDNEY] Australia’s capital city office and hotel values will rise in the coming year on record jobs growth, a National Australia Bank Ltd (NAB) survey showed. NAB’s commercial property index, which measures capital value and rental pricing expectations in the property industry,Bloomberg - 265 words
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Advertisement40 2011-05-05 28 SAVILLS INDUSTRIAL Land the best returns for your industrial properties Savills has over 200 offices and associates worldwide to meet all your real estate needs, anywhere in the world. Call 6536 5022 6415 3636 I savills.com savills AGENCY NO. L*****88B40 words
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Advertisement311 2011-05-05 29 Conservation near the River Freehold*Residential Old world PR eligible/Spacious 5,000 sq ft Peranakan Charm 4+mural airwell 3 storeys with attic/parking 999 years/Historical ambience Call 6222 5055 Principals Only Various rental properties available a 9saf>el9?eJrup Cogency www.isabelredrup.com/ir8.php SINGAPORE SHOPPING CENTRE 190 Clemenceau Avenue II Prime commercial: 16 units (4th storey) 27311 words
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Advertisement287 2011-05-05 29 W* Knight Frank Estate Agent Licence No. L*****36J Pearlbank Apartments A hidden gem in the city Fantastic day and night unblocked 360° views Next to Pearl's Hill City Park and Outram Park MRT Interchange Near to medical hub, Chinatown, CBD, Gardens-by-the-Bay, IR and Marina Bay An opportunity to reshape the287 words
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Advertisement275 2011-05-05 29 fi JONES LANG FOR SALE LASALLE BY EXPRESSION OF Jones Lang LaSalle Property Consultants Pte Ltd I K| T C D C Agency Licence No. L*****26E tlXLO I 2 Havelock Road Prime Office Investment Opportunity EOI Closing Date: 11 May 2011 3pm 7-storey CBD office building Recent high quality refurbishment275 words
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Advertisement254 2011-05-05 30 COLLECTIVE SALE Tender closing 12 May (Thurs) 3pm CHONG KIM APARTMENT TT Thomson Rd NewtonRdU NOVENA MRT Revenue House MandalayRd Akyab Rd Bassein Rd United Square Square 2/ Velocity Moulmein Rd St.Joseph’s Institution Junior Freehold Land area 15,359.2 sf Potential state land purchase of 1,500 sf (estimated) Plot Ratio 2.8/254 words
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Advertisement282 2011-05-05 30 Perth CBD’s best value add opportunity FOR SALE Subject 251 St Georges Terrace, Perth, Western Australia www.realcommercial.com.au/*****97 Fully leased net income: AUD$6 million* NLA: 9,745sqm* over nine levels Refurbish, reposition and potential additional development 115 secure basement car bays 0-star NABERS Energy Rating Substantial air-conditioning upgrade due for completion June282 words
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Advertisement271 2011-05-05 31 ►'30,000 sq.ft RETAIL SPACE Extremely rare opportunity to purchase retail space enbloc Consist of 62 individual strata-titled retail units 999-year land tenure Prominent building with main road frontages Ample carparking Next to MRT Station 100% tenanted Highly sought after by investors and end users Investment Properties Tel: 6224 8181 Sammi271 words
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Advertisement340 2011-05-05 31 Estate Agent Licence No. L*****36J FOR SALE BY TENDER PRIME RESIDENTIAL REDEVELOPMENT SITES IN DISTRICT 10 DYNASTY GARDEN ADJOINING SITE Nanyang Girlsʼ High Sch Methodist Girlsʼ Sch PIE National JC D u n e a r n R d Raffles Girlsʼ Pri Sch B t T i m a h340 words
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Advertisement159 2011-05-05 32 o MARKETS Investment^Trenda get thinking FX/CFD trading Cellp cell, cell. Market Detail Deal Ticket Balance: SD 7,883.82 Running P&L: SO 894.52 Deposit SD 2,557.28 Available: SD 5,326.54 O Spot FX EUR/USD Stop Limit Open React instantly with our new free iPhone app. Take a position wherever you are. View Live159 words
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Advertisement104 2011-05-05 32 Australian Property Finance Have you recently bought an Australian property and need a loan to complete the transaction"? Already own and want to ensure you have the best loan? Contact Specialist Mortgage here in Singapore for free impartial advice to review all of your options. iS'Wj Specialist Mortgage h 62g3104 words
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