The Business Times, 20 July 2011

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Total Pages: 32
1 32 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|Sl A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Wednesday, July 20,2011
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  • 625 1 Press baron’s wife fights off attacker in House committee room NYT AP Reuters [LONDON] The grilling of media baron Rupert Murdoch and his son James by British Parliamentarians yesterday took a surprising turn. “In a shocking interruption toward the end of the
    NYT; AP; Reuters; AFP  -  625 words
  • 824 1  -  Sense of urgency in IE Singapore’s drive to grow local outfits abroad as competition picks up pace By TEH SHI NING [SINGAPORE] Large local companies that can compete globally form the sharpened focus of International Enterprise Singapore’s bid to spur the
    LIANHE ZAOBAO  -  824 words
  • 144 1 GST INDEX 3,096.12 (+17.17) G ST INDEX FUTURES 3,095 (+17) G SIMSCI 358.55 (+2.16) G SIMSCI FUTURES 358.70 (+2.00) FOREX US$ S$ US$ (S$ per US$) 1.217 (US$/S$ per 1.612 1.962 EURO (US$/S$/E) 1.415 1.721 Foreign currency per US$ S$ YEN 79.00 65.00 RM 3.007 2.471 HK$ 7.794
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  • TOP STORIES
    • 596 2 Big S’pore firms set out to scale mountains overseas LARGE local companies that can compete globally form the sharpened focus of International Enterprise Singapore’s bid to spur the growth of Singapore’s external economy. And in line with this focus on partnering enterprises en route to becoming globally competitive
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    • 411 2  -  Last downturn did not lead to ‘total collapse’ thanks to Fed and its chief By LEE U-WEN [SINGAPORE] The next global financial crisis could well come as early as five or six years from now, with every possibility that the severity
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    • 562 2  -  By SIOW LI SEN [SINGAPORE] A second consumer credit bureau, DP Credit Bureau, has started operations here to provide credit reports on individuals, sourcing their payment records from both bank and non-bank entities such as moneylenders and furniture stores. While it will have a wider
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    • 734 4  -  Family loses appeal against judgement awarded to Dovechem founder By MICHELLE QUAH [SINGAPORE] IN a case once described as that of “an old man being played out by his own family members”, Singapore’s Court of Appeal has decided
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    • 556 4  -  It also urges BOJ to adopt aggressive monetary easing By ANTHONY ROWLEY in Tokyo AS Japan battles to reconstruct its economy and deal with electric power shortages in the wake of the March 11 natural disasters and nuclear crisis, it must
      BLOOMBERG  -  556 words
    • 501 4 Reuters [WASHINGTON] Two weeks before their final deadline, President Barack Obama and top lawmakers will face more pressure for a debt deal amid a growing sense that a last-ditch plan taking shape in Congress may be the only way to avoid a devastating
      Reuters  -  501 words
    • 580 4  -  By CARINE LEE PRIVATE equity-backed initial public offering (IPO) activity continued on its upward trajectory in the second quarter, reaching its highest quarterly total since the same period in 2007. In aggregate, 4 5 PE-backed companies raised US$17.2 billion in proceeds,
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    • 582 4  -  She pleads not guilty to bribing Telekom official By S JAYASANKARAN in Kuala Lumpur A FORMER employee of the Malaysian unit of French telecommunications giant Alcatel-Lucent was charged yesterday with giving a bribe to a Telekom Malaysia (TM) official. This could be the
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  • Page 2 Advertisements
    • 97 2 COMMERZBANK O What I need is European expertise, delivered locally Corporates Markets Commerzbank Corporates Markets is harnessing its European expertise in trading, structuring, research and corporate finance solutions for our clients across Asia. As a leading bank at the heart of Europe's largest economy, we've built a reputation for delivering
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    • 2 2 SEDUCTION ANITALIANMICHELINSTAR
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  • Page 3 Advertisements
    • 135 3 www.vw. com. sg a 3 E2 'i There's no soft option. •JL rasmm^New Eos. With its CSC roof the new Eos is the only cabriolet in the world with the option of three driving experiences. Sporty hard-top coupe, sliding panoramic sunroof, or open-top cabriolet. And when it comes to performance
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  • COMPANY NEWS
    • 911 5  -  H1 income also up, due mainly to contributions from Clarke Quay, Iluma By KALPANA RASHIWALA CAPITAMALL Trust (CMT), Singapore’s pioneer real estate investment trust (Reit), posted year-on-year improvements in its sec-ond-quarter and first-half 2011 results, riding on contributions from its acquisitions of two malls
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    • 388 5  -  By JAMIE LEE MOST hedge funds turned in shoddy performances last month amid poor market conditions, figures from a European financial research centre EDHEC-Risk Institute showed. Funds that took on a global commodity trading adviser (CTA) strategy fared the worst among its
      388 words
    • 528 8  -  It quashes talk of bond issue, says H1 profit to grow at least 30% By JOYCE HOOI YANGZIJIANG Shipbuilding Holdings’ (YZJ’s) stock price rebounded strongly yesterday, as the shipbuilder reassured a jittery market of its prospects. It closed 7.3 per cent or
      528 words
    • 464 8 Reuters [HONG KONG] Citigroup’s Asian consumer banking unit is aiming to go head-on against deeply entrenched local players such as HSBC and DBS to shake up the competitive landscape. “There is a level of indifference across the industry. My philosophy is
      Reuters  -  464 words
    • 367 8  -  By LYNN KAN NET profit of Keppel Telecommunications and Transport (KTT) rose 27.8 per cent to $17.6 million for the second quarter ended June 30, from $13.8 million a year earlier. For the first six months of this year, KTT’s net profit grew
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    • 392 8  -  By CONRAD TAN CAMBRIDGE Industrial Trust’s (CIT) distributable income rose 14 per cent to $12.3 million for the second quarter compared to a year ago. Its distribution per unit (DPU) for the three months to end-June was 1.036 cents, down 16.3 per cent from
      392 words
    • 1053 9  -  BreadTalk Group CFO Catherine Lee tells MINDY TAN why CFOs are most suited to take on this important task FINANCE ACROSS BORDERS MINDY TAN This is part of a series of CFO spotlights brought to you by KPMG in Singapore. The interview series and more information
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    • 476 9  -  Respondents also want the scope of audit to be widened for better value By LYNETTE KHOO WHILE the debate over the value of external audit rages on, given the fresh spate of accounting scandals this year, an overwhelming majority of retail
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    • 312 9  -  Viking says it sees no merit in claim and will contest it By TEO SI JIA IN another update yesterday on its legal actions against Marine Accomm Pte Ltd (MAPL), Viking Offshore and Marine Limited said that the former director of MAPL, Tong Guan Teck,
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    • COMPANY BRIEFS
      • 130 9 TEE International announced that together with its wholly owned subsidiary Trans Equatorial Engineering Pte Ltd, it has been awarded three contracts worth $17.44 million in all. Citibank NA Singapore awarded Tee a contract for fit-out works for the period between June 20 to Aug
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      • 83 9 TIONG Woon Corporation Holding Ltd has secured a subcontract agreement for the Tokuyama Malaysia Project from Chiyoda Sarawak Sdn Bhd. The contract, signed through its Malaysian subsidiary Tiong Woon Crane Transport (M) Sdn Bhd, was sealed at an undisclosed amount. The company will be
        83 words
      • 80 9 SUNGEN International, a subsidiary of Anwell Technologies, won a contract worth about US$20 million to supply in-house produced amorphous silicon thin film solar panel for a solar farm project in India. The thin film panel has been scheduled for delivery in the second half of
        80 words
      • 51 9 ECOWISE Holdings said that it is in “advanced negotiations” with various parties that are focused on clean technology, adding that it would release more details when there are further developments. Its share price rose 1.4 cents, or 11.3 per cent, to close at 13.8 cents
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    • 527 9  -  By STEPHANIE RIADY SHARES of ornamental fish breeder Qian Hu Corporation rose on light volumes yesterday, following its announcement of sec-ond-quarter earnings. The shares closed up 0.4 cent, or 3.96 per cent, at 10.5 cents, with 40,000 shares traded. At a results briefing
      527 words
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  • SINGAPORE MARKETS
    • 628 6  -  ST Index closes 17 points higher as Europe opening points to a possible firm Wall Street session STOCKS R SIVANITHY Senior Correspondent IT WAS a day of two halves yesterday, the first marked by weak prices and the second by gains in anticipation
      Source: Bloomberg  -  628 words
    • 4 6 DAILY
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    • 66 6 Jul 19 VALUE CLOSE BT OB/OS -523.00 +218.0 BT CADI -*****.00 +94.0 BT 10-day MA -*****.00 -52.00 FTSE ST Mid Cap 731.89 +3.25 FTSE ST Small Cap 507.79 +2.83 FTSE ST All Share 754.51 +4.05 FTSE ST China Top 243.16 +2.00 FTSE ST China 283.12 +0.57 FTSE
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    • 57 6 VOLUME Sunmoon 183,807,000 Genting SP 81,068,000 800 Super 69,979,000 CPH 46,000,000 Yangzijiang 41,155,000 Noble Grp 38,207,000 Contel 36,795,000 PSL Hldgs 27,151,000 HPH Trust US$ 24,494,000 BerlianLaju 23,729,000 VALUE($) Genting SP 148,048,050 Wilmar 69,819,640 Noble Grp 66,734,066 OCBC Bk 55,506,138 Yangzijiang 52,669,415 Keppel Corp 52,524,570 SingTel 43,696,240 DBS
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    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 3 5 0 0 0 7 3 5 Manufacturing 64 54 44 6 3 7 70 57 51 Commerce 24 15 23 4 4 2 28 19 25 Tpt/Stor/Comms 27 8 9
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    • BROKERS’ TAKE
      • 413 6 July 19 close: S$5.68 OCBC Investment Research, July 19 ACCORDING to Bloomberg, citing the Quanzhou Evening News, the Chinese government has reportedly removed the price limits on edible oils that had been put in place since November last year. However, the newspaper has also cited an unidentified official
        Source: Bloomberg  -  413 words
      • 404 6  -  July 19 close: S$1.345 DBS Group Research, July 19 Compiled by LYNN KAN K-REIT’s Q2 gross revenue and net property income (NPI) declined by 22.2 per cent to S$18.1 million and S$14.3 million respectively due to the sale of Keppel Towers and GE Towers, but remained relatively stable
        404 words
      • 137 6 Ebit earnings before interest and tax Ebitda earnings before interest, tax, depreciation and amortisation EPS earnings per share FY fiscal/financial year H1, H2 first or second half m-o-m month on month NAV net asset value 9M nine months P/B price/book value (ratio) PE price/earnings (ratio) Q1, Q2, Q3 first,
        137 words
    • 120 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 24,537 24,537 78,419 78,419 Manufacturing 230,419 61,379 291,798 218,086 767 218,854 Commerce 270,141 5,995 276,136 157,265 619 157,884 Tpt/Stor/Comms 170,332 3,785 174,117 219,367 347 219,714 Finance 16,931 16,931 166,071 166,071 Construction 44,257 17,075 61,332 14,267
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    • 111 6 Stock name Close Change CapMallsAsia 1.450 CapitaLand 2.910 +0.010 CapitaMall 1.935 +0.005 CityDev 10.140 -0.050 ComfortDelGro 1.410 DBS Grp 14.800 +0.090 F&N 5.760 +0.040 GLP 1.990 +0.030 Genting SP 1.830 Golden Agri 0.700 +0.005 HK Land 6.710 -0.100 JMH 55.710 +1.150 JSH 31.900 +0.620 Jardine C&C
      111 words
    • 435 6 CURRENCIES Reuters [NEW YORK] The euro strengthened yesterday as debt yields of some peripheral eurozone countries retreated ahead of an EU summit later this week on expectations that a solution to Greece’s debt problem may be reached. Traders said official Asian and Russian
      Reuters; REUTERS  -  435 words
    • 110 6 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 142.3 0.9 JMH 5571 139.9 2.1 JSH 3190 75.4 2.0 DBXT MSTHAI 10US$ 1760 47.4 2.3 GLD 10US$ ***** 47.4 0.3 DBXT FTChina25 10US$ 3070 41.4 1.1 DBXT SPASX200 10US$ 3488 41.4 1.0 DBS Bk 4.7% NCPS 100 ***** 20.0 0.2
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    • 125 6 BY CENTS CLOSE DOWN IS S&P500 *****-407.4 -2.5 Pru 500US$ 1074-133.8 -9.3 Asia Pac Brew 2730 -70.0 -2.5 Jardine C&C 4586 -52.0 -1.1 DBXT FTVietnam 10US$ 2697 -36.5 -1.1 CityDev.ES.1107 1015 -33.0 -3.1 DBXT CSI300 10US$ 1014 -24.3 -1.9 DBXT MSINDO 10us$ 1615 -21.9 -1.1 DBXT E50 10US$ 4159
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    • 5 6 DAILY
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  • Page 7 Advertisements
    • 77 7 20// 50 years on, we still serve you very warmly. Over time, the once familiar coffee cup has reshaped itself from traditional to the trendy. However, it is the coffee that counts. For 50 years, RHB Bank has evolved from strength to strength but what remains unchanged is our service
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    • 266 8 SINGAPORE'S 00)33 I.T CONSUMER TECHNOLOGY EXHIBITION www.comexshow.com .sg Join us at facebook t SINGAPORE'S BIGGEST I.T EXHIBITION OF THE YEAR! STAND TO WIN 1 ST PRIZE OF $20,000 CASH AND OTHER CASH PRIZES! (ONE COUPON FOR EVERY $100 PAID OR DEPOSIT PLACED DURING THE 4 DAYS) EXCLUSIVE SHOW OFFERS NEW
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  • SINGAPORE NEWS
    • 658 10  -  They should come first but this should not mean closing door on foreign talent: Tony Tan By LEE U-WEN SINGAPOREANS should have the first priority when it comes to gaining admission to higher education institutions here, said former deputy prime minister and presidential candidate
      ALPHONSUS CHERN/THE STRAITS TIMES  -  658 words
    • 322 10  -  Programmes at Four Acres S’pore set to commence in 2013 By TAM YU LING CONSUMER goods conglomerate Unilever is gearing up to expand further into Asia with the groundbreaking of its global leadership development centre in Singapore. The facility is intended to
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    • 357 10  -  By LEE U-WEN SINGAPOREANS who have changed the address on their identity cards since Jan 1 this year will be allowed to vote at a polling station nearer to their new address for the upcoming presidential election. Their names will be transferred
      357 words
    • 242 10 LOCAL electronic payments provider Nets has launched iNets QuickPay, a new payment collection solution that aims to reduce costly and inefficient paper payment collections for small and medium enterprises. Merchants can now collect payments from customers via over 100 iNets
      242 words
    • 366 11  -  EPI Life wins in e-health category, my CPF triumphs in e-govt division By VICTORIA HO TWO Singapore technologies have won prizes at the World Summit Award (WSA) 2011. EPI Life, produced by EPhone International, won in the e-health and environment category; and government portal
      366 words
    • 295 11 THE Ministry of Manpower (MOM) has announced several new crane safety initiatives which will be implemented from September. Hawazi Daipi, the ministry’s Senior Parliamentary Secretary, made the announcement on enhancing the regulatory framework governing crane operations at the opening of
      295 words
    • 350 11  -  The firm expects construction peak ‘about a year from now’ and has also started recruiting By RONNIE LIM IT’S all systems go for GMR Energy which is building Singapore’s newest bil-lion-dollar-plus power station on Jurong Island. The company previously known as Island
      350 words
  • Page 10 Advertisements
    • 542 10 Keppel Telecommunications Transportation Ltd Co Reg No: *****0115G (Incorporated in the Republic of Singapore) 1. UNAUDITED RESULTS FOR THE SECOND QUARTER AND HALF YEAR ENDED 30 JUNE 2011 The Directors of Keppel Telecommunications Transportation Ltd advise the following unaudited results of the Group for the second quarter and half year
      542 words
    • 50 10 tl'Jl'J Toto tickets and $10 Packs are available at all outlets. This F »-ay at 9 S 3 A 0pm DRAW Sales close at 9pm this Friday Visit www.singaporepools.com.sg for details. p Always play with care. responsibly] Do not bet illegally. Towards Community Purpose and Benefit RCB Reg No.: *****0202G
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    • 155 10 IN THE MATTER OF COMPANIES ACT, CAP. 50 AND IN THE MATTER OF DC-NET PTE. LTD. REG NO. *****9911G (In Members’ Voluntary Liquidation) NOTICE OF FINAL GENERAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act, Cap. 50, that the Final General Meeting of the abovenamed
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  • Page 11 Advertisements
    • 18 11 Grow Your Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices [•SATS NOTICES
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  • ECONOMY WATCH
    • 565 12 High-yield mutual funds received US$1.3b last week Bloomberg [NEW YORK] The US$1.3 trillion market for US junk bonds is rebounding from its worst monthly loss this year as Moody’s Investors Service says companies’ ability to meet debt payments has never been
      Bloomberg  -  565 words
    • 562 12 Bloomberg [SEOUL] South Korea will prohibit financial companies from buying for-eign-currency bonds sold for domestic use, to help curb short-term external debt that contributed to financial crises in 1997 and 2008. “Our message is that local firms should raise funds in won
      Bloomberg  -  562 words
    • 796 12 Govt officials say there is little they can do but watch, wait and hope Reuters [SINGAPORE] For Asia, the deepening debt troubles in the West are like a giant asteroid on a collision course too big to dodge or ignore, and
      Reuters; AP  -  796 words
    • 689 12 NYT [SHANGHAI] However grim Washington’s debt and deficit negotiations may seem to Americans, the impasse is nearly as disturbing for China. As the United States’ biggest foreign creditor holding an estimated US$1.5 trillion in US government debt China
      NYT  -  689 words
  • Page 12 Advertisements
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    • 269 12 MAT3 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SINGAPORE CSF PTE. LTD. (CO. REG. NO. *****5211G) (MEMBERS’ VOLUNTARY WINDING UP) NOTICE OF FINAL MEETING NOTICE is hereby given that pursuant to Section 308 of the Companies Act, Cap. 50, a FINAL MEETING
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  • MALAYSIA/INDONESIA
    • 317 13 Analysts see move as govt’s bid to appease minorities Reuters [KUALA LUMPUR] Malaysia and the Vatican agreed on Monday to establish diplomatic ties, a move seen by analysts as a bid by the Malaysian government to appease minority Christians in the mainly Muslim South-east
      Reuters; REUTERS  -  317 words
    • 326 13 Bloomberg [MANILA] Indonesia is likely to win an upgrade for its sovereign credit rating to investment grade before the Philippines, Fitch Ratings said. “Indonesia has lower public debt than the Philippines,” Andrew Colquhoun, the head of the Asia-Pacific sovereigns team at Fitch,
      Bloomberg  -  326 words
    • 476 13 CIMB more vulnerable than Maybank if cap on bank ownership imposed [KUALA LUMPUR] A possible move by the Indonesian central bank to cap foreign ownership in banks would affect CIMB Group Holdings Bhd more than Malayan Banking Bhd (Maybank), Malaysia’s Business Times quoted an
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  • GREATER CHINA/INDIA
    • 762 14 Its tax revenue totals 18% of GDP, the lowest among BRIC nations Bloomberg [NEW DELHI] In a country where per capita income is 50,000 rupees (S$1,366) and income tax exemption limit is 180,000 rupees, only 3 per cent of India’s 1.2 billion population
      Bloomberg; AFP  -  762 words
    • 576 14 Safety, veracity of info is threatened as data moves through servers outside India [NEW DELHI] After a triple bombing in Mumbai killed 21 people last week, Prime Minister Manmohan Singh’s office issued a statement condemning the terrorist attacks from a Microsoft Corp Hotmail address.
      576 words
    • 411 14 Bloomberg [MUMBAI] Indian companies will sell a record amount of international debt in 2011 as lower borrowing costs help end a five-week drought in issuance, according to Royal Bank of Scotland, the top underwriter for overseas bond sales this year. Indian corporate
      Bloomberg  -  411 words
    • 193 14 Reuters [BEIJING] China’s stateowned firms made combined profits of 1.13 trillion yuan (S$212.6 billion) for the first half of 2011, up 22.3 per cent from a year earlier, the Ministry of Finance said yesterday. The increase marked a slight acceleration
      Reuters  -  193 words
    • 385 14 Bloomberg [BEIJING] China’s tax revenue rose 29.6 per cent to five trillion yuan (S$940.7 billion) in the first half of the year, giving officials more room to manoeuvre as they grapple with swelling local-government debt. The gain, reported by
      Bloomberg  -  385 words
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    • 519 14 MATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF KIVILE ENTERPRISES PTE LTD (Company Registration No: *****3482R) MEMBERS’ VOLUNTARY LIQUIDATION At an Extraordinary General Meeting of the abovenamed Company held on the 15th day of July 2011 the following special resolution was duly
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  • WORLD
    • 361 15 AP [HELSINKI] A Singapore man was sentenced to two years in prison yesterday for bribing players in the Finnish football league as part of an international match-fixing scam. The verdict against Wilson Raj Perumal and nine players from the local team in
      AP; AFP  -  361 words
    • 606 15 Purchases of previously owned homes up 1.9% from May’s six-month low LATEST US DATA Bloomberg [WASHINGTON] Housing starts in the United States rose more than forecast in June to the fastest pace in five months, led by a surge
      Bloomberg  -  606 words
    • 544 15 Income at US$1.85 per share is below estimate of US$2.30 Bloomberg Reuters [NEW YORK] Goldman Sachs Group Inc, the US bank that makes most of its money from trading, reported second-quarter profit that fell short of analysts’ estimates as fixed-income revenue plunged 63
      Bloomberg; Reuters  -  544 words
    • 447 15  -  By LEE U-WEN [SINGAPORE] Yingluck Shinawatra took a big step closer to becoming Thailand’s first female prime minister after she was finally endorsed as a member of parliament by the country’s election watchdog yesterday. The 44-year-old political novice the youngest sibling
      447 words
    • 267 15 Pictet-Absl Rtn Glo Cons-P EUR 15.07.2011 EUR 101,40 Pictet-Absl Rtn Glo Div-P EUR 15.07.2011 EUR 114,90 Pictet-Asian Equities Ex Japan-P USD 15.07.2011 USD 186,05 Pictet-Asian Local Currency Debt-P USD 15.07.2011 USD 144,99 Pictet-Biotech-P USD 18.07.2011 USD 327,01 Pictet-CHF Liquidity-P 15.07.2011 CHF 124,20 Pictet-Clean Energy-P USD 15.07.2011 USD 75,34
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    • 821 16 A leadership change will end Murdoch’s almost six-decade run as chief exec Bloomberg [LOS ANGELES] News Corp is considering elevating chief operating officer Chase Carey to chief executive officer to succeed Rupert Murdoch, people with knowledge of the situation said. A decision
      Bloomberg; REUTERS  -  821 words
    • 287 16 Hackers also post fake obituary of Rupert Murdoch that he had ingested palladium Bloomberg [NEW YORK] Websites for two News Corp newspapers in the UK, The Sun and The Times, have closed down following an Internet attack from a group that claimed credit
      Bloomberg  -  287 words
    • 716 17 Strategy is part of a plan to cut annual expenses by US$1 b, revive its fortunes Reuters [NEW YORK] Cisco Systems plans to cut 15 per cent of its staff and sell a set-top box factory as part of a plan
      Reuters; AFP  -  716 words
    • 378 17 Bloomberg [NEW YORK] Borders Group faces objections as it heads to liquidation from creditors, landlords and e-book maker Kobo Inc, which called the sale process “hurried and confused”. Borders will wind down its remaining 399 stores starting on July 22 after it couldn’t reach an
      Bloomberg  -  378 words
    • 605 18 Financial Stability Board says this is to prevent another financial crisis Bloomberg [BRUSSELS] Global regulators have backed Basel plans that would force banks judged too big to fail to hold as much as 2.5 percentage points in additional capital, as part of
      Bloomberg  -  605 words
    • 471 18 AP [CHRISTCHURCH] It’s been 10 months since the first big earthquake struck New Zealand’s second-largest city. It’s been nearly five months since a far more devastating one killed 181 people and crippled the downtown. And it’s been just a few hours since yet another
      AP  -  471 words
    • 480 18 Reuters [WASHINGTON] President Barack Obama warned the financial industry on Monday to stop fighting his administration’s reforms to help consumers as he officially announced his pick to head a US financial watchdog agency. Mr Obama chose a compromise candidate to lead the new Consumer
      Reuters  -  480 words
    • 816 19 Companies pouring growing proportion of investment into China, Russia, Brazil NYT [DITZINGEN, Germany] Germany has long sat at the centre of Europe economically, but Europe is no longer as central to Germany as it used to be. With large parts of Europe still in
      NYT; REUTERS  -  816 words
    • 399 19 AFP [SYDNEY] Australian interest rates will likely remain on hold for an extended time after a central bank commentary yesterday warned of uneven domestic growth, slowing commodity prices and global debt fears. The Reserve Bank of Australia (RBA) said that the eurozone
      AFP  -  399 words
    • 501 19 Reuters [BANGKOK] Wealth management services are catching on among Thailand’s rich, but a narrow product offering and regulatory limitations so far prevent the industry from offering the same services that tap growing millionaire money in other Asian markets. The number and wealth of
      Reuters  -  501 words
  • Page 15 Advertisements
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  • Page 16 Advertisements
    • 3100 16 :»ATci NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY JURISDICTION OUTSIDE SINGAPORE INTO WHERETO DO THE SAME WOULD CONSTITUTE A VIOLATION OF THE
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    • 21 16 SCORE CARD Keep your investors informed by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg.
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  • Page 18 Advertisements
    • 295 18 THE SME MAGAZINE PRESENTS The Economy& Your Business What headwinds ahead do companies face? Get a better picture of how the next 12 to 18 months will pan out. Hear from two of Singapore’s top economists as they share their outlook on how the wider picture can impact local businesses
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    • 43 18 Wine, Dine Hospitality High ghts vs* I t 9 9 9 9 Spanish Suckling Pig V m m V 1 v K A •r\ z Vp 4 -v Paella Valencia 1 Harbourfront Walk #01 -98/99 VivoCity Singapore *****5 Tel: 6376 8185 Email: info@serenity.com.sg
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  • Page 19 Advertisements
    • 253 19 v; Wine, Dine Hospitality Highlights 1 THRILL OF THE GRILL Indulge in a sizzling summer edition of Plates of Pleasure, featuring highlights such as Blackmore Wagyu Patty, Australian Farm-Raised Lamb and 1 served in petite plated portions. Delight in unlimited servings of these tantalising barbecued meats and other hearty bistro
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  • EDITORIAL & OPINION
    • 468 20 EDITORIAL A “CYNICAL exercise in obfuscation” was how one observer described the so-called stress tests on 90 European banks by the European Banking Authority (EBA), the results of which were released on July 15. “A farce,” said another. Indeed, even as the EBA
      468 words
    • 774 20  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 TWO years ago, China issued a human rights action plan for 2009 and 2010. Last week, it announced that all targets
      774 words
    • 1088 20  -  S’pore can be a base of their operations to advance new high-finance, high-tech initiatives By SHAHID JAVED BURKI The writer, a former Pakistani finance minister and World Bank vice-president, is visiting senior research fellow at the Institute of South Asian Studies. He will
      AP  -  1,088 words
    • 845 21  -  By SIMON JOHNSON in Washington, DC The writer, a former chief economist of the IMF, is co-founder of a leading economics blog, http://BaselineScenario.com, a professor at MIT Sloan, a senior fellow at the Peterson Institute for International Economics, and co-author, with James Kwak, of ‘13 Bankers’
      845 words
    • 1266 21  -  In early 2011, 46 per cent of small companies had increased their revenues over the previous 12 months By WILLIAM WILLEMS The writer is regional vice-president, ANZ and South-east Asia for Regus, the world’s leading provider of workplace solutions THE common picture of SMEs
      AFP  -  1,266 words


  • TransportHUB
    • 529 22  -  Slow steaming has impacted supply chains of 9 out of 10 businesses polled BY JOYCE HOOI IN THE cheering for slow steaming, what with savings on fuel for the liners and the lower emissions for the planet, it appears that the shippers’ howls of
      529 words
    • 1036 22 Bloomberg [LONDON] The largest glut of ships in history means the cheapest freight rates relative to iron ore prices in at least a decade, helping Rio Tinto Group and BHP Billiton Ltd to generate record profit. The cost of transporting iron
      Bloomberg; REUTERS  -  1,036 words
    • 905 22  -  IMO delivers on greenhouse gases but is under pressure to do more STRAIT TALK By DAVID HUGHES LAST week, the International Maritime Organization (IMO) took a major step forward in its response to the perceived need to cut greenhouse gas, and specifically
      905 words
    • TRANSPORT HUB: AVIATION
      • 264 23 Terms undisclosed; settlement covers related ITC case Bloomberg [BOSTON] Rolls-Royce Holdings plc, the world’s sec-ond-largest maker of jet engines, has settled a patent dispute with United Technologies Corp’s Pratt Whitney unit. Terms were not disclosed. The companies requested in July 15 court filings dismissal
        Bloomberg  -  264 words
      • 269 23 Bloomberg [MELBOURNE] Qantas Airways Ltd’s long-haul pilots will take their campaign for higher pay and job security directly to passengers with in-flight announcements to explain the demands, under their first industrial action in 45 years. The announcements aim to raise awareness and avoid travel
        Bloomberg  -  269 words
      • 3331 23 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ457 1300 SQ456 1245 EY470 2220 NH6370 2220 VA7470 2220 Adelaide LH9771 1745 9W4082 2225 SQ278 1745 AF8088 2225 VS7278 1745 AY5011 2225 BA7382 2225 JL7893 2225 MU8439 2225 QF82 2225 LH9770 2350 SQ279 2350 --VS7279 2350 Amsterdam LO4031
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      • 629 23 But analysts don’t expect the ordeal to hurt Denver-based Frontier’s earnings AP [DENVER] Frontier Airlines cancelled flights for the fifth straight day and arranged charter flights for some passengers on Monday as hail damage kept many of its planes out of
        AP; BLOOMBERG  -  629 words
      • 270 23 Bloomberg [SEOUL] South Korean Prime Minister Kim Hwang-sik has criticised Japan’s decision to boycott Korean Air Lines Co for flying over islets claimed by both countries. “It is extremely regrettable,” Mr Kim said at a Cabinet meeting yesterday in Seoul, according to government spokesman
        Bloomberg  -  270 words
    • TRANSPORT HUB: LAND
      • 584 24  -  Previous market leader Toyota slows down to No 3 spot Reports by SAMUEL EE SINGAPORE’S top two makes are now both German luxury brands, as previous market leader Toyota slows down to No 3 spot (refer to table). Among authorised distributors,
        584 words
      • 481 24 AP [TOKYO] Toyota’s elec-tric-gasoline hybrid car technology will be utilised to help ease power shortages in Japan’s disas-ter-struck north-east, part of a set of measures the automaker hopes will underline its commitment to the region. Toyota Motor Corp said yesterday that it
        AP; BLOOMBERG  -  481 words
      • 335 24 Volkswagen overall favourite with 4 cars in Top10 THE BMW 5 Series is Singapore’s top model for the first six months of 2011. From January to June, among authorised distributors, the mid-sized luxury saloon in its various engine versions has chalked up
        Source: LTA  -  335 words
      • 592 24 Reuters [MICHIGAN] General Motors Co will not make any product commitments “solely” to achieve a deal with the United Auto Workers union in upcoming contract talks, the automaker’s top labour executive said. “We certainly aren’t going to make a decision and make a
        Reuters  -  592 words
      • 228 24 Bloomberg [NEW YORK] Ford Motor Co plans to sell US$1 billion of bonds backed by car loans as fiscal crises in Europe and the United States push relative yields on the debt to the highest level in a year. The securities
        Bloomberg  -  228 words
  • Page 22 Advertisements
    • 58 22 Heartbeat Of The Indian_ Community Incisive features from India, news about the local Indian community, as well as business, education, entertainment, food and sports... with an Indian slant of course. t a a COMMUNITY he*K tbE *I PRIME TIME smppo"* MOpOT an iw w masa koM* -r,rnrssz cs For more
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  • Page 23 Miscellaneous
    • 299 23 CRYPTIC CROSSWORD Across 1 Commanding American soldiers with physical exterior (11) 9 Girl is someone keeping supple (7) 10 Company facing start of military strike action (6) 12 Staff more optimistic following Conservative leader (7) 13 Rumours sweep preceding son’s return (7) 14 However, chap’s half masculine (5) 15 King
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  • Page 24 Advertisements
    • 22 24 ASK TO OOOOTYO AT/SMSS Online advertising made simple affordable to help your business grow. Log on to www.sphdad.com S|£l Digital Ad Direct
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    • 26 24 SI* -s- ft. Lianhe Zaobao Singapore enterprises wellpositioned in western China says Pang Te Cheng, Consul in Chengdu To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • SINGAPORE STOCKS
    • 8361 25 Transaction date: Jul 19 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 13.2 8Telecom 14.5 13 16 7.8 4.2 3 69.4 12 4.5 A-Sonic 6.7 +0.1 270 6.8 6.6 6.7 6.8
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    • 1523 26 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 34 24 t 800 Super 25.5 -1 ***** 27 24 25.5 26 8.8 45.6 5.5 3.7 t AA Grp 3.7 3.7 4 17.6 3.6
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    • 9958 26 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.37/ APS Alpha Fund (USD)!** 1.13/ AXA Life Secure Ascent 2020 Fund 0.9679/0.9679 AXA Wealth Mgt S'pore Pte Ltd AXA WM -Talents Fund 0.7/ Aberdeen Asset Mgt Asia Limited American Opp 0.6413/ Asian Credit Fund
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    • 228 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 34 AVJennings A41 -2 5 41 41 41 44 3.6 8.5 3.3 106.8 55 19.5 Genting HK US$ US39 +0.5 4829 39.5 38 39 39.5 2568
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    • 868 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124 108 ABF SG Bond ETF 116 113.6 115.9 529.5 1207 872 CIMBAsean40 100US$ US1078 1075 1090 43.1 350 290 DBS STI ETF 100 312 unch
      868 words


  • FINANCE & COMMODITIES
    • 374 27 In local curr In S$ In US$ dy yr dy yr dy yr Jul 18 Index Change Change Change Change Change Change World Index Preliminary 889.2 -1.3 -0.9 -1.4 -3.8 -1.5 1.0 EAFE Preliminary 758.0 -1.2 -5.4 -1.6 -6.3 -1.7 -1.5 Europe Preliminary 1107.3 -1.8
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    • 77 27 CRUDE OIL PRODUCTS Jul 18 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 116.28 -1.13 WTI (Near Mth) 95.92 -1.49 Dubai (1-Mth F) 110.66 0.18 Tapis blend 122.10 0.52 Minas 118.30 0.52 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 106.33 1.61 Jet Kerosene 130.30 1.45 US$/barrel Opec Oil
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    • 107 27 Jul 18 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Aug 11 1385.50 1385.75 1391.75 1370.00 Sep 11 1382.25 1383.00 1388.50 1366.50 Nov 11 1386.25 1387.00 1393.00 1370.00 Jan 12 1396.00 1395.75 1401.00 1381.25 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Aug 11 56.92
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    • 83 27 Jul 19 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****Z 20.10.2011 0.26 0.23 0.20 1-Year BY*****X 02.05.2012 0.35 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 103.90 103.94 103.92 5-Year N*****0W 1.125 01.04.2016 101.82
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    • 460 27 Jul 19 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Sep11 99.5950 0 5060 Dec11 99.4850 0 4097 Mar12 99.4300 0 1578 Jun12 99.3700 0 1984 EUROYEN TIBOR FUTURES Sep11 99.6625 0 1332 Dec11 99.6600 0 1392 Mar12 99.6550 0 1823 Jun12 99.6500 0 1374 Sep12 99.5850
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    • 156 27 Jul 19 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Aug 11 475.0 469.5 475.0 34 171 Sep 11 476.0 469.7 476.0 36 384 Oct 11 476.0 471.0 476.0 34 417 Nov 11 478.0 471.8 478.0 78 379 Dec
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    • 60 27 As on 18 July 2011 www.smx.com.sg For membership please contact: Ivan Han, DID +65 9098 8455 membership@smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE PREV CLOSE PRECIOUS METALS Gold Cash Aug-11 1599.3 1596.7 1598.1 1580.5 CURRENCY Euro-US Dollar Sep-11 1.407 1.3991 1.4003 1.4096 Aust-US Dollar Sep-11 1.0527 1.0518 1.0523
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    • 122 27 As at 9am Jul 19 19 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.336 1.261 Can dollar 1.293 1.244 Euro 1.75 1.683 Sterling pound 1.991 1.915 NZ dollar 1.057 1.007 US dollar 1.233 1.186 Local dollars to 100 units of
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    • 22 27 Jul 19 S$ Bid Offer 1-month 1.2162 1.2172 2-months 1.2161 1.2172 3-months 1.2160 1.2171 6-months 1.2152 1.2163 Source: OCBC
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    • 2558 27 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 20.5 1 150 23 6.78 34 ASJ Hldgs W*****1 0.6 1 4 10 7.00 7 AlliedTech W*****2 1.7 -0.2 90 1 4 28 Asia Water Tech Ltd W*****8
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    • 178 27 Jul 19 $S Offer Bid 0vernight 0.02 0.01 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.01 US$ Offer Bid 7 days 0.25 0.15 1 month 0.28 0.18 2 months 0.35 0.25 3 months 0.42 0.32 6 months 0.54 0.44 9 months 0.75 0.55 12
      178 words
    • 462 27 Jul 19 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.018 6.892 0.753 8.308 47.478 91.167 0.842 11.296 3.205 1.257 91.871 45.661 1.297 7.424 0.875 30.816 31.885 0.661 1.066 Canada 0.982 6.769
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    • 85 27 Jul 19 (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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 142 27 Jul 19 GOLD (US$/oz) Jul 19 Jul 18 Hong Kong 1604.30 1600.40 Jul 18 Jul 15 London 1605.79 1589.20 1606.61 1589.95 Source: Thomson Reuters Source: Reuters CAST BAR Jul 19 (S$) Selling Buying Kilobar 67,342.59 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 151 63 5gm 428 314
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    • 71 27 Jul 18 Jul 18 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2467.00 2463.25 3 months 2497.00 2494.00 Copper, Grade A (US$/tonne) Cash 9672.75 9651.25 3 months 9694.00 9672.00 Lead (US$/tonne) Cash 2713.00 2695.50 3 months 2730.00 2708.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • 154 27 Jul 19 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2961 1.2975 1.0657 1.0660 Canadian dollar 1.2728 1.2744 1.0466 1.0470 Euro 1.7203 1.7221 1.4145 1.4148 NZ dollar 1.0312 1.0326 0.8479 0.8483 Sterling pound 1.9605 1.9625 1.6120 1.6123
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    • 27 27 Jul 19 Open High Sett STI Jul 3095 SIMSCI Jul 356.4 358.9 358.7 Taiwan Jul 294.1 296.2 295.4 Source: MF Global (S) Pte Ltd
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    • 65 27 Jul 19 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 11 3106 3125 3121 3080 1968 8052 Sep 11 3099 3125 3125 3070 5911 ***** Oct 11 3090 3107 3118 3064 ***** ***** Nov 11 3094 3108
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    • 81 27 Jul 18 COCOA (£/tonne) Close Prev High/Low Sep 11 2001 1992 2020/1970 Dec 11 2029 2020 2050/2000 Mar 12 2044 2036 2060/2019 May 12 2050 2043 2062/2032 COFFEE (US$/tonne) Close Pev High/Low Jul 11 2208 2231 Sep 11 2250 2276 2280/2232 Nov 11 2283 2310 2313/2267 Jan 12 2298
      81 words

  • 5540 28 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
    5,540 words
  • Page 28 Advertisements


  • executive Money
    • 1082 30  -  The largest S’pore-owned asset manager, with S$29b AUM, will target institutions in developed markets that are under-invested in Asia, reports GENEVIEVE CUA reports GENEVIEVE CUA ASIA may be a hot investment destination, but homegrown fund management firms actually see relatively little
      YEN MENG JIIN  -  1,082 words
    • 790 30  -  By FLOYD NORRIS NYT MORTGAGE securities destroyed the reputations of credit rating agencies. Could sovereign debt restore them? When the housing market crumbled, the agencies Moody’s, Standard Poor’s and Fitch came across as incompetent, conflict-ridden and craven. They had handed out
      NYT  -  790 words
    • 945 31  -  By AZAM AHMED But investors are unfazed as commodity trading advisers collect over US$28b in net inflows so far this year NYT [NEW YORK] Managed futures funds, which bet on the ups and downs of stocks, bonds, commodities and currencies, have been
      NYT  -  945 words
    • 1225 31 Many fund managers are poised to redeploy the cash into bonds as they rise Bloomberg [NEW YORK] Mutual funds in the United States that focus on bonds have the highest percentage of their assets in cash since 2008, which may temper a rise
      Bloomberg  -  1,225 words
  • Page 30 Advertisements
    • 30 30 r EXCLUSIVE TICKETS TUNE IN TO 91.3FM OR LOG ONTO WWW.RADI0913.COM FOR MORE DETAILS OFFICIALRADIO STATION Midas Promotions www.midaspromotions.com www.omy.sg v I V yzone.omy.sg T '4 I showbiz.omy.sg HtEWm&lltt)) W\
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  • Page 31 Advertisements
    • 515 31 Invest ETFs in U.S. Market with E*TRADE! COMMISSION FROM AS LOW AS us$9.99 PER TRADE* More ETFs Choices, More Opportunities in U.S. Market! Open an acount and get up to US$350 rebate! NO CUSTODY FEE** TOCKS FUNDS rxxiF Stock ETF Screeners Active trading platform Power E*TRADE Pro (PET) IT Mobile
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  • PRIVATE WEALTH PURSUITS
    • 1993 32  -  In a world that is facing inflationary pressures, should an investor continue to allocate funds to equities? TEH HOOI LING finds out from a panel of analysts TEH HOOI LING SINCE the first company thought to be the Dutch East India Company issued its shares to
      AFP  -  1,993 words
  • Page 32 Advertisements
    • 291 32 Citigold Private Client m I W r-* y 4. Setting the industry standard in wealth management services. Citigold Private Client is a unique wealth management offering exclusively designed for individuals with portfolios of over $1 million. You have built your wealth over time and we recognise the importance of providing
      291 words