The Business Times, 30 July 2011
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2011-07-30
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The Business Times
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Title Section22 2011-07-30 1 weekend THE BUSINESS TIMES www. sinesstime .com. g JULY 30 31, 2011 S$1.00 MICA (P) 139/08/2010 Sfh A SINGAPORE PRESS HOLDINGS PUBLICATION22 words
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729 2011-07-30 1 Teh Shi Ning - EDB and Statistics Dept surveys of industrial and service sector firms capture the mood By Teh Shi Ning tshining@sph.com.sg Singapore AFTER a slow second quarter, Singapore’s manufacturers and service sector firms are now looking at a brighter second half. In line with729 words
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Article, Illustration1205 2011-07-30 1 Joyce Hooi - Race is on for the contract to operate the International Cruise Terminal, and SCC has its work cut out By Joyce Hooi joyceh@sph.com.sg Singapore CHRISTINA Siaw has not yet warmed her seat at the Singapore Cruise Centre (SCC), but it has become a veryYEN MENG JIIN - 1,205 words
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Page 1 Advertisements
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Advertisement128 2011-07-30 1 the business www. sinesstime the raffles conversation ASTRAZENECA CEO DAVID BRENNAN 8-9 DEBT JITTERS Republicans race to revive plan HOUSE of Representatives Speaker John Boehner’s failure to round up enough support exposes party rift. 2 JOB SCENE Unemployment edges up to 2.1% TOTAL employment in the second quarter grows by128 words
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Advertisement6 2011-07-30 1 PERSPECTIVE Harry Potter’s economics lessons 28-296 words
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TOP STORIES
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Article, Illustration64 2011-07-30 2 NEWS Top Stories 2-7 Raffles Conversation 8-9 Week in Review 10 Companies 11-14 From The Desk Of 15 Singapore 16-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-31 Smart Money 32 Show Me The Money 33 Real Estate 34-35 LIVING Shopping/Dining L2-5 Dining L6-7 Style L8-9 Travel L10-1164 words
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Article, Illustration646 2011-07-30 2 With deadline just 4 days away, markets are getting rattled Reuters Bloomberg Washington US REPUBLICAN leaders scrambled yesterday to rescue their budget deficit-cutting plan after conservatives mounted a rebellion that heaped uncertainty on efforts by Washington to avert a catastrophic debtReuters; Bloomberg - 646 words
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MARKETS
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Article58 2011-07-30 2 HSTI 3,189.26 (-0.59) HSTI FUTURES 3,153 (-37) GSIMSCI 369.96 (+0.61) HSIMSCI FUTURES 364.70 (-5.00) Friday Change KL COMP 1,548.81 -3.10 NIKKEI 225 9,833.03 -68.32 HANG SENG 22,440.25 -130.49 SET 1,133.53 -0.85 JAKARTA 4,130.80 -15.03 MANILA 4,503.63 +20.83 KOSPI 2,133.21 -22.64 SHENZHEN B 734.50 +1.20 MUMBAI IND 18,197.20 -12.32 12noon58 words
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Article29 2011-07-30 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.830 TAIWAN 4.956 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.52 INDIA 14.25 Source: Bloomberg29 words
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Article48 2011-07-30 2 US$ S$ US$ (S$ per US$) 1.206 (US$/S$ per 1.629 1.965 EURO(US$/S$/E) 1.427 1.722 Foreign currency per US$ S$ YEN 77.60 64.30 RM 2.966 2.458 HK$ 7.795 6.461 BAHT 29.75 24.66 RUPIAH 8,504 7,049 RENMINBI 6.440 5.338 INDIAN RUPEE 44.16 36.61 A$ 0.915 0.758 NZ$ 1.154 0.95748 words
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559 2011-07-30 2 Conrad Tan - By Conrad Tan conradt@sph.com.sg Singapore BUSINESS loans continued to propel bank lending growth in June, surging 4.1 per cent over the month to a record $209.4 billion, which suggests that firms here continued to borrow despite the cloudy global economic outlook. Over559 words
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468 2011-07-30 4 Nisha Ramchandani - Slowdown in employment growth largely due to services sector By Nisha Ramchandani nishar@sph.com.sg Singapore SINGAPORE’S unemployment rate rose to 2.1 per cent in the second quarter of this year, up from 1.9 per cent in the first three months, on the back of468 words
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Article, Illustration704 2011-07-30 4 Grace Leong - CRA chairman also explains importance of robust anti-money laundering framework By Grace Leong gleong@sph.com.sg Singapore SETTING up the legal framework for Singapore’s nascent gaming industry was the result of a deliberate calibration of laws from various gaming jurisdictions, the chairman ofFILE PHOTO - 704 words
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398 2011-07-30 5 Michelle Tan - It purchases Festival Walk, a regional retail mall, for HK$1 8.8b By Michelle Tan michtyz@sph.com.sg Singapore MAPLETREE Investments Pte Ltd (Mapletree) will be venturing into its first commercial property acquisition in Hong Kong by acquiring Festival Walk, a major regional retail mall in398 words
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Article, Illustration852 2011-07-30 6 Kalpana Rashiwala - But a few more caveats are expected over the coming weeks from this month’s deals By kalpana@sph.com.sg Kalpana Rashiwala kalpana@sph.com.sg Singapore GOOD Class Bungalow (GCB) deals have continued to dry up this month following the slowdown seen in the firstSource: URA; SISV; CB Richard Ellis - 852 words
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627 2011-07-30 6 NYT New York THE reverberations of Washington’s impasse over a debt deal are already being felt in the short-term credit markets, a key artery of the economy that daily supplies trillions of dollars of credit. Over the last week, big banks andNYT - 627 words
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Article, Illustration736 2011-07-30 7 Vincent Wee - Keppel Corp sponsors Singapore’s entry for 4th straight time By Vincent Wee btworld@sph.com.sg Singapore SINGAPORE’S participation in the 2011-12 edition of the Clipper Round the World Yacht Race, which will start from Southampton tomorrow, will be its fourth run but it continues736 words
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Page 2 Advertisements
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Advertisement6 2011-07-30 2 45Short-term credit markets rattled, Page 66 words
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Advertisement11 2011-07-30 2 45New home loans in Q2 down 4.2% from Q1, Page 1611 words
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Page 3 Advertisements
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Advertisement153 2011-07-30 3 1 if N I d' I A I THE m 1 COMMUNI BOND Angelina Tan r 38, Director of a HR consultancy Who knew our humble HDB heartlands would play host to some of the most interesting arts events? As a resident of Marine Parade, Angeline was one of six153 words
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Page 5 Advertisements
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Advertisement191 2011-07-30 5 www.sgmsc.com NEWGENERATION CARDIACMRI IMAGINGTECHNOLOGY Centre for Medical Imagingis the first in Asia to install the new generation Siemens Magnetom Aera 1.5 Tesla MRI machine with the latest Cardiac MRI imaging technology. With no X-ray radiation involved, it can provide information on heart arteries, heart valve function, heart muscle function and191 words
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Page 6 Advertisements
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Advertisement9 2011-07-30 6 45RealStar to launch Good Class Bungalow portal, Page 169 words
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Page 7 Advertisements
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Advertisement26 2011-07-30 7 > >c h‘)i'l JACKPOT 'it A ffi rT> TMS MONDAY /4L RCB Reg No: *****0202G is For details, visit www.singaporepools.com.sg Towards Community Purpose and Benefit SINGAPORE m26 words
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THE RAFFLES CONVERSATION
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Article, Illustration2085 2011-07-30 8 / 9 Joyce Hooi - Asked to name the greatest challenge facing AstraZeneca today, CEO David Brennan doesn’t bring up the terrible trio of pricing, policy and IP protection. Instead, he addresses the question of unmet medical needs. By Joyce Hooi By Joyce Hooi joyceh@sph.com.sg DAVIDBrennanhas spent a good part of theARTHUR LEE - 2,085 words
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WEEK IN REVIEW/WEEK AHEAD
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THIS WEEK July 25-29, 2011
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49 2011-07-30 10 PRIVATE banks in Singapore are jostling to capture an emerging class of customers the children of their ultra rich Asian clients. The summer months of July and August are busy times for bespoke bankers such as UBS, Credit Suisse and HSBC.49 words
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41 2011-07-30 10 RUSSIA’S Gazprom, the world’s largest gas producer, through its Singapore trading office, has just signed its fourth supply deal with Indian companies this year, with the deals reportedly worth over US$90 billion in total.41 words
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70 2011-07-30 10 THE Government of Singapore Investment Corp has sharply reduced its investment exposure to Europe and the United States as part of an ongoing shift into emerging markets such as China. “Outside the emerging economies, it’s a case of choosing between three70 words
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56 2011-07-30 10 THERE was less bang for the buck on Monday as the US dollar fell to new year-lows against the Singapore dollar, Swiss franc and Japanese yen, amid continued political wrangling over the debt ceiling in the US. Bloomberg data showed that at 7pm, one56 words
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Article61 2011-07-30 10 THE Court of Appeal has upheld a High Court ruling which found Pheim Asset Management Sdn Bhd and its CEO Tan Chong Koay guilty of market rigging. Among other things, the case suggests that the Monetary Authority of Singapore will tolerate no funny business, especially in61 words
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56 2011-07-30 10 MARINA Bay Sands has again called on the Singapore government to make available several adjacent plots of land that would help support the US$5.7 billion integrated resort’s burgeoning operations. These are land parcels not on the reserve list, said newly appointed56 words
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54 2011-07-30 10 SINGAPORE is reviewing its Accountants Act, for the first time in seven years, to ensure that the regulatory framework for public accountants remains relevant. The review could lead to higher standards being set for firms that audit public-interest entities, such as54 words
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48 2011-07-30 10 FOR some Singapore companies, it’s not a gamble but a necessity. After seeing their foreign workers go missing some days only to be found gambling firms are making them apply for self-exclusion from the two casinos as part of their employment agreement.48 words
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Article, Illustration22 2011-07-30 10 Firms are making their foreign workers apply for self-exclusion from the two casinos as part of their employment agreement REUTERSREUTERS - 22 words
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57 2011-07-30 10 DBS Group Holdings shares surged on Wednesday to a new 52-week high ahead of the company’s Q2 results on Thursday. The local bank rose 1.5 per cent or 22 cents to $15.32 on heavy volume of 5.8 million shares. Its previous57 words
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55 2011-07-30 10 THE US dollar slid further on Wednesday, breaking the key psychologically level of S$1.20 to hit S$1.1992 in morning trade, as it continued to suffer from gridlock over the US debt ceiling. By 7pm, it had recovered to S$1.2021, but that55 words
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58 2011-07-30 10 FINALLY, an index has been minted that monitors price changes for shoebox apartments. And it shows what market players have observed for some time now that price increases of shoebox apartments have been outpacing gains in overall apartment prices since the58 words
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45 2011-07-30 10 THE Singapore government has found its first bank ally for its efforts to woo global mid-sized companies and Asian enterprises to Singapore. HSBC on Thursday agreed to work with the Economic Development Board over the next three years.45 words
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Article73 2011-07-30 10 NEXT WEEK Aug 1-5, 2011 US DATA Aug 1 June construction spending Aug 2 June personal income Aug 3 June factory orders July ISM services Aug 5 July non-farm payrolls July unemployment rate EVENTS Aug 1 China releases July manufacturing PMI Thai parliament holds its opening session Aug 2 Deadline73 words
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Page 10 Miscellaneous
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Miscellaneous338 2011-07-30 10 CRYPTIC CROSSWORD Across 1 Rome’s source for investors looking for a return (5,8) 10 Are moving home, it must be serious (7) 11 To some extent it’s of Iran’s making (2,2,3) 12 Ready to return to place of exile (4) 13 I note and see love in the home (5)338 words
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Miscellaneous17 2011-07-30 10 SATURDAY with Ludwig not to mention the power that you will save from the lamp post outside.’17 words
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COMPANIES
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507 2011-07-30 11 Nisha Ramchandani - The counter closed at $14.16 yesterday, down 55¢ or 3.74% By Nisha Ramchandani nishar@sph.com.sg Singapore SINGAPORE Airlines (SIA) shares tumbled yesterday on news that high fuel costs had caused a big dent in its first-quarter earnings. The counter opened trading at $14.14 and507 words
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Article419 2011-07-30 11 Emilyn Yap - By Emilyn Yap emilyny@sph.com.sg Singapore FRASERS Centrepoint Trust (FCT) is buying Bedok Point for $127 million from its sponsor, Frasers Centrepoint Limited the property arm of Fraser and Neave (F&N) using a mixture of debt and equity. The market has been expecting the acquisition,419 words
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340 2011-07-30 11 Singapore FRASERS Commercial Trust (FCOT), whose five-into-one unit consolidation was completed in February this year, yesterday posted a distribution per unit (DPU) of 1.38 cents for the third quarter ended June 30. This is 10 per cent higher than a year ago,340 words
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701 2011-07-30 12 Teh Shi Ning - Analysts say immediate effect may not be significant given the greater, continued drag from global uncertainties CORPORATE FOCUS By Teh Shi Ning tshining@sph.com.sg Singapore WITH the imminent start of all-day trading on the Singapore Exchange (SGX), analysts say that the lift to trading701 words
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438 2011-07-30 12 Dickson Li - It also appoints new senior executive for China listings By Dickson Li dicksonl@sph.com.sg Singapore THE Singapore Exchange (SGX) yesterday unveiled an online platform to educate retail investors on the trading of investment products. It also named a new senior executive in charge of China438 words
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Article, Illustration598 2011-07-30 13 R Sivanithy - STOCKS R Sivanithy sivan@sph.com.sg Senior correspondent Perhaps the most significant observation of the week that’s just gone by is the relative resilience of Hong Kong’s Hang Seng and the Straits Times indices to events in the US, where Wall Street has598 words
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Article190 2011-07-30 13 VOL CLOSE Gent i ng SP 121,669 1 90 2.5 1 .3 NexGenSCom 107,141 3 0.2 7.1 Midas 84,652 57 1 .0 1 .8 HPH Trust US$ 71,761 76 1 .2 1 .3 Golden Agri 67,838 73 0.0 0.0 EuNetworks 67,559 1 8 0.0 0.0 SingTe l190 words
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Article109 2011-07-30 13 Stock name Close Change CapMallsAsia 1.435 CapitaLand 2.900 -0.020 CapitaMall 1.885 +0.005 CityDev 10.560 +0.060 ComfortDelGro 1.435 -0.005 DBS Grp 15.530 +0.200 F&N 6.000 +0.050 GLP 2.020 +0.020 Genting SP 1.900 -0.025 Golden Agri 0.730 HK Land 6.720 +0.090 JMH 57.310 -1.690 JSH 32.740 -0.700 Jardine C&C 48.360109 words
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Article63 2011-07-30 13 BY CENTS CLOSE UP DBS Bk 4.7% NCPS 100 ***** 130.0 1.2 DBXT AUD Bonds 5AU$ ***** 81.7 0.4 DBS.ES.1107 1549 61.0 4.1 DBXT S&P Short 10US$ 4273 54.3 1.1 DairyFarm 900 48.2 4.7 Hyflux 6% CPS 10 ***** 36.0 0.3 STXPO 100 883 23.0 2.7 DBS Grp63 words
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Article64 2011-07-30 13 BY CENTS CLOSEDOWN JMH 5731 -203.8 -2.9 IS S&P500 ***** -167.6 -1.1 DBXT Nifty 10US$ ***** -135.1 -0.9 OCBC Bk 5.1%NCPS 100 ***** -104.0 -1.0 UOB 5.05%NCPS 100 ***** -99.0 -0.9 DBXT MSKorea 10US$ 6417 -91.7 -1.2 JSH 3274 -84.4 -2.1 DBXT MSAsExJp 10US$ 3390 -79.6 -1.9 Lyxor64 words
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703 2011-07-30 13 Siow Li Sen - Suntec Reit, Olam offers oversubscribed despite market jitters By Siow Li Sen lisen@sph.com.sg Singapore SOME alarmists may be warning of Armageddon come next Tuesday if the US does not resolve its debt problem but bond investors here seem to be oblivious to the dark703 words
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Article, Illustration513 2011-07-30 14 Growing demand for salmon products in China prompts decision Reuters Hong Kong FISHING and frozen seafood processor and distributor Pacific Andes International Holdings Ltd said its Singapore-listed Pacific Andes Resources Development Ltd intends to increase its stake in Australian salmon farmer TassalReuters; FILE PHOTO - 513 words
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Article184 2011-07-30 14 glance 3 months ended June 2011 6 months ended June 2011 NET PROFIT (S$m) TURNOVER (S$m) NET PROFIT (S$m) TURNOVER (S$m) CURRENT PREVIOUS CHNG CURRENT PREVIOUS CHNG CURRENT PREVIOUS CHNG CURRENT PREVIOUS CHNG 1 Jardine Strategic 3120.43 1549.77 101.3 *****.81 *****.95 22.0 2 Jardine Matheson 2706.26 1387.54184 words
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Business briefing
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85 2011-07-30 14 UNITED Envirotech (UE) reported a 16.3 per cent year-on-year fall in first-quarter net profit to $3.54 million. Revenue was down 7 per cent to $20.79 million, which UE attributed mainly to lower engineering revenue. Finance costs were also higher. Looking ahead, UE85 words
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101 2011-07-30 14 ST Electronics, the electronics arm of ST Engineering, has signed a memorandum of understanding (MOU) with NEC Corporation to collaborate in information communication technologies initiatives. The first initiative is a $6 million joint venture NEC STEE Cloud Services Pte Ltd –with NEC holding101 words
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111 2011-07-30 14 KOON Holdings’ wholly owned subsidiary Koon Construction and Transport has been awarded a $37.9 million infrastructure contract by the HDB. The three-phase contract is for the construction of a vehicular bridge link between Pulau Punggol Timor and Singapore, a road system from the111 words
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Page 11 Advertisements
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Advertisement74 2011-07-30 11 SINGAPORE -SWEEP1 st prize PRIZE $2,200,000 $500,000 $250,000 $800,000 3 rd PRIZE SUPER SWEEP SNOWBALLED TO 1st Prize $2.2 Million 2nd Prize 5500,000 3rd Prize S250.000 a RE r o(j Suuj&fMhtS’.VKKt Draw No. 08/2011 A d V *3 *****40 $3H „-^.-«n.-^y,3Augu«20n DRAW ON WEDNESDAY, 3 AUGUST 2011 p |_ayA Always74 words
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Page 12 Advertisements
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Advertisement77 2011-07-30 12 Check out these positions and seven hundred more in CATS Recruit Executive Appointments in The Straits Times now! Sentosa Leisure Group has a position open for a Senior Architect The Singapore Institute of Management has a vacancy in Strategic Plans Research Toshiba Electronics is recruiting Sales Marketing Engineers Obayashi Singapore77 words
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Page 14 Advertisements
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Advertisement20 2011-07-30 14 Beef Up Your Finances Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your IPOs other offerings BSAT3 NOTICES CLA/FEB11/g20 words
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FROM THE DESK OF
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Article, Illustration1035 2011-07-30 15 Kim Walker - How can companies become more age-friendly? The answer involves reviewing the entire customer experience with ageing physiology in mind FROM THE DESK OF Kim Walker CEO, Silver Group UNTIL a few years ago, the notion of being “environmentally friendly” was seen by business as an unnecessary1,035 words
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SINGAPORE
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Article, Illustration445 2011-07-30 16 Conrad Tan - MAS data also shows new loans granted for owner-occupied property fall more than loans for investment property By Conrad Tan conradt@sph.com.sg THE volume of new home loans granted in April-June fell by 4.2 per cent compared to the first quarter ofSTOCK.XCHNG - 445 words
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249 2011-07-30 16 THE Urban Redevelopment Authority (URA) announced yesterday that it accepted an application from a developer to put up the industrial site at Woodlands Avenue 12 (Parcel 3) for sale via public tender. The land parcel has a site area of 202,361 sq249 words
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233 2011-07-30 16 Kalpana Rashiwala - By Kalpana Rashiwala kalpana@sph.com.sg THINGS may be a little slow moving in the Good Class Bungalow (GCB) market these days but property agency RealStar Premier Group is using the opportunity to sharpen its competitive edge by launching an online portal for potential GCB233 words
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Article, Illustration495 2011-07-30 17 Ven Sreenivasan - Its Regional Training Centre at Seletar will train up to 4,000 technicians, engineers every year By Ven Sreenivasan ven@sph.com.sg ROLL-ROYCE’S new $70 million Regional Training Centre (RTC) at Seletar Aerospace Park will train up to 4,000 technicians and engineers in aerospace, marine, defence and power systems495 words
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240 2011-07-30 17 LI AN HE Zaobao, the Chinese flagship newspaper of Singapore Press Holdings, gets a new man at the helm from Monday. Goh Sin Teck, 47, deputy editor of the paper, will take over as editor from Lim Jim Koon, 62, who will assume240 words
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379 2011-07-30 17 Carine Lee - By Carine Lee carinel@sph.com.sg iPAD users will be able to read The Straits Times (ST) on their tablet beginning this Monday. Singapore Press Holdings’ (SPH) flagship newspaper will launch its iPad application alongside an enhanced iPhone application at 7am on379 words
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Article, Illustration352 2011-07-30 18 Lynn Kan - The Lumesse survey also finds that 42% of employees see their respective companies’ appraisal system as having little or no value By Lynn Kan lynnkan@sph.com BOSSES take heed. The annual appraisal may need to be more meaningful, if you want to keep your workplace fromSTOCK.XCHNG - 352 words
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411 2011-07-30 18 Nicholas Yeo - By Nicholas Yeo yeonick@sph.com.sg THE decision not to retrench but to retrain Singapore customer service staff in tough times has paid off for Delta Air Lines. After just a year on specially tailored Singapore Workforce Skills Qualifications (WSQ) programmes by the Singapore Workforce Development411 words
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163 2011-07-30 18 THE new eLobby@ICA, housing 13 public self-service kiosks for immigration-related services, was officially opened yesterday by Deputy Prime Minister and Minister for Home Affairs, Teo Chee Hean. The former cafeteria space at the Immigration Checkpoints Authority (ICA) Building has been transformed into a163 words
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Page 18 Advertisements
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Advertisement43 2011-07-30 18 VI Vi SjfS v mr tfjW i A > Suede’s Greatest Hits Tour 3 August 2011, Singapore Indoor Stadium EXCLUSIVE TICKETS TUNE IN TO 91.3FM OR LOG ONTO WWW.RADI0913.COM FOR MORE DETAILS OFFICIAL RADIO STATION PRESENTEDBY Midas Promotions www.midaspromotions.com 91.3FM TODAY S BEST MUSIC43 words
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WORLD
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503 2011-07-30 19 GDP rises at a 1.3% annual rate, as opposed to a predicted increase of 1.8%; household purchases climb 0.1% LATEST US DATA Bloomberg Washington THE US economy grew less than forecast in the second quarter, after almost coming to a halt at theBloomberg - 503 words
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729 2011-07-30 19 Anthony Rowley - By Anthony Rowley btworld@sph.com.sg Tokyo JAPAN should become “a society that is no longer reliant on nuclear energy”, Prime Minister Naoto Kan declared last night. This appears to endorse his previous controversial call for a “phasing out” of nuclear power, which had sparked outrage among729 words
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550 2011-07-30 20 Concerns grow US$1.7 trillion loans given to local govts may spur a wave of bad debts Bloomberg Beijing CHINA’S banking regulator told lenders they haven’t set aside sufficient funds to cover losses on loans to local governments and ordered them to accelerateBloomberg - 550 words
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Article, Illustration492 2011-07-30 20 Reuters Tokyo TOP Japanese banks are looking to expand their footprints in markets as far apart as Vietnam, Brazil and Malaysia as they seek to counter poor demand for loans at home and benefit from a strong currency. Mizuho Financial Group, the nation’s second biggestReuters; REUTERS - 492 words
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Article, Illustration557 2011-07-30 21 Sara Payne, whose 8-year-old daughter was murdered in 2000, may be another victim NYT London BRITAIN was awash in a new surge of outrage over the phone-hacking scandal on Thursday as news emerged that Scotland Yard had added to the list of probable victims aNYT; AP - 557 words
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442 2011-07-30 21 Reuters Hong Kong A HANDFUL of banks are bidding for a one billion renminbi (S$ 187.3 million) syndicated loan for a Hong Kong-listed company, raising hopes for the development of an offshore renminbi loan market, banking sources told Thomson Reuters BasisReuters - 442 words
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Article510 2011-07-30 21 Bloomberg Hong Kong AIA Group Ltd, the third-largest Asia-based insurer by market value, reported a stronger-than-estimated 24 per cent increase in first-half profit, sending its shares higher in Hong Kong trading. Net income climbed to US$1.31 billion in the six months to May,Bloomberg - 510 words
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Article, Illustration493 2011-07-30 22 It says currency is deviating from Japan’s economic fundamentals Reuters Tokyo JAPAN escalated yesterday its warning to markets against testing the yen’s upside movement further, with the Finance Ministry signalling that Tokyo may not wait for too long with action if theReuters; REUTERS - 493 words
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401 2011-07-30 22 Ratings agency found flaw in review process Bloomberg New York WALL Street banks including Morgan Stanley and Deutsche Bank slammed Standard Poor’s (S&P) decision to suspend a rating on a commercial-mortgage bond that had been placed with investors after finding aBloomberg - 401 words
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294 2011-07-30 22 Reuters Shanghai CHINA’S economic planning agency has ordered companies to obtain bond holders’ approval if they want to conduct any restructuring of assets while they still have bonds outstanding, two sources with direct knowledge of the directive said. The NationalReuters - 294 words
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Advertisement48 2011-07-30 19 Choice f mSingapo*® 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. An English weekly available free every Friday at all 7-Eleven outlets For advertising enquiries, call 9171-4327 9693-0266 or email tabla@sph.com.sg48 words
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Advertisement18 2011-07-30 20 www.omy.sg oxe>*ory vour favourite team nO>W/!fli if E G3 Stand chance a win 3D2N Hong Kong Trip lifestyle.omy.sg18 words
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Advertisement13 2011-07-30 22 Shanda Games plansbig expansionhereinnext 10years To subscribe, call 6388-3838 or go to sphsubscription.com.sg13 words
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Article8348 2011-07-30 23 Transaction date: Jul 29 Transaction date: Jul 29 Transaction date: Jul 29 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 13.2 8Telecom 15 +0.5 90 15 14.5 14.5 15.5 7.8 4.1 3.1 71.88,348 words
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Article1668 2011-07-30 26 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 34 20 t 800 Super 22 unch ***** 23.5 22 22 22.5 7.6 39.3 5.5 3.7 t AA Grp 3.7 3.4 4 17.6 3.6 2021,668 words
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Article186 2011-07-30 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 7 3 0 0 0 5 7 3 Manufacturing 53 62 39 4 7 8 57 69 47 Commerce 16 28 16 1 5 4 17 33 20 Tpt/Stor/Comms 8 26 7186 words
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Article121 2011-07-30 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 26,945 26,945 80,660 80,660 Manufacturing 308,628 39,752 348,380 278,963 431 279,394 Commerce 167,756 4,890 172,646 126,192 750 126,942 Tpt/Stor/Comms 217,989 7,494 225,483 548,394 893 549,287 Finance 38,122 2,308 40,430 308,214 598 308,812 Construction 59,315 33,774121 words
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Article826 2011-07-30 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Jul 25 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Cache Log Trust 28-Jul-11 Lim Hwee Chiang *Buy 975 na ***** 2.05 ***** 2.20 Nam Cheong Ltd826 words
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MARKETS
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Article75 2011-07-30 27 Jul 28 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 118.57 0.31 WTI (Near Mth) 97.23 -0.15 Dubai (1-Mth F) 112.13 -0.39 Tapis blend 122.95 -0.12 Minas 118.95 -0.12 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 109.47 0.69 Jet Kerosene 131.25 -0.25 US$/barrel Opec Oil Basket Price75 words
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Article118 2011-07-30 27 Jul 29 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.365 1.288 Can dollar 1.288 1.239 Euro 1.754 1.687 Sterling pound 2.005 1.928 NZ dollar 1.075 1.024 US dollar 1.219 1.173 Local dollars to 100 units of foreign currency: Currencies Sell118 words
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Article85 2011-07-30 27 Jul 29 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****S 27.10.2011 0.23 0.16 0.08 1-Year BY*****X 02.05.2012 0.28 0.18 0.17 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 103.9 103.95 103.93 5-Year N*****0W 1.12585 words
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Article154 2011-07-30 27 Jul 29 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3177 1.3191 1.0927 1.0930 Canadian dollar 1.2675 1.2690 1.0511 1.0514 Euro 1.7209 1.7227 1.4271 1.4274 NZ dollar 1.0447 1.0460 0.8663 0.8667 Sterling pound 1.9642 1.9660 1.6288 1.6290154 words
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Article68 2011-07-30 27 Jul 29 GOLD(US$/oz) Jul 29 Jul 28 Hong Kong 1613.50 1618.00 --Jul 28 Jul 27 London 1605.20 1616.61 1606.20 1617.38 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 48.14 47.74 Source: UOB PLATINUM Lon (US$/oz) Jul 28 Close Previous PM Fix 1790.00 1814.00 AM Fix 1790.00 1810.00 Source:68 words
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Article, Illustration61 2011-07-30 27 www.smx.com.sg As on 28 July 2011 PRODUCT CONTRACT HIGH LOW CLOSE PREV CLOSE PRECIOUS METALS Gold Cash Aug-11 1614.9 1614.8 1614.9 1615.4 CURRENCY Euro-US Dollar Sep-11 1.4382 1.4236 1.4286 1.4367 BASE METALS Copper Cash Sep-11 9885 9788 9847 9806 ENERGY WTI Crude Sep-11 97.12 97.11 97.12 97.4361 words
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374 2011-07-30 27 In local curr In S$ In US$ dy yr dy yr dy yr Jul 28 Index Change Change Change Change Change Change World Index Preliminary 898.4 0.2 0.1 -0.1 -3.2 0.1 3.1 EAFE Preliminary 765.6 -0.5 -4.4 -0.9 -4.7 -0.7 1.6 Europe Preliminary 1127.1 -0.2374 words
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Article71 2011-07-30 27 Jul 28 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2611.00 2620.75 3 months 2638.00 2644.00 Copper, Grade A (US$/tonne) Cash 9794.00 9756.00 3 months 9814.00 9779.00 Lead (US$/tonne) Cash 2637.00 2671.00 3 months 2655.50 2690.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)71 words
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Article80 2011-07-30 27 Jul 28 COCOA (£/tonne) Close Prev High/Low Sep 11 1862 1890 1903/1860 Dec 11 1894 1922 1933/1892 Mar 12 1915 1943 1954/1914 May 12 1925 1954 1951/1925 COFFEE(US$/tonne) Close Pev High/Low Jul 11 2039 2082 2064/2064 Sep 11 2084 2127 2127/2077 Nov 11 2116 2159 2155/2108 Jan 12 212980 words
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Article72 2011-07-30 27 Jul 29 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 11 3110 3110 3120 3095 231 2465 Sep 11 3103 3097 3112 3082 2782 ***** Oct 11 3097 3096 3114 3080 ***** ***** Nov 11 3100 309372 words
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Article103 2011-07-30 27 Jul 28 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Aug 11 1367.75 1375.75 1380.00 1367.00 Sep 11 1362.50 1371.75 1376.25 1360.50 Nov 11 1371.50 1380.50 1385.00 1369.00 Jan 12 1382.00 1390.50 1393.00 1381.25 SOYBEAN/OIL(60,000 lbs; USc/lb) Close Previous High/Low Aug 11 55.76 56.40 56.57 55.74103 words
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PERSPECTIVE
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Article, Illustration896 2011-07-30 28 / 29 Paul Donovan - The Harry Potter series has a vital message in economics. Tolerance is economically good and prejudice is economically bad. By Paul Donovan By Paul Donovan Paul Donovan is managing director and deputy head of global economics, UBS Economists, as a rule, lead lives of ceaseless toilBLOOMBERG - 896 words
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Article, Illustration805 2011-07-30 28 / 29 Harish Mehta - By Harish Mehta Harish Mehta, a former BT correspondent for Indo-China, is currently visiting Kolkata. btworld@sph.com.sg THE Darjeeling hills are alive with the sound of Gorkha music and revelry involving the consumption of rakshi (rum) along with the much-favoured delicacy, blood sausage. hese residentsAP - 805 words
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Wealth
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WEALTH INVESTING
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Article, Illustration1159 2011-07-30 30 / 31 Amid a cash drought, they are more tempted to pool efforts in order to share costs and meet stricter risk standards demanded by investors Bloomberg AT the time when Rory Dickson was planning a fund to invest in Asian con-sumer-related stocks, uncertainty over howBloomberg; STOCK.XCHNG - 1,159 words
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BROKERS' TAKE
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Article638 2011-07-30 30 / 31 Buy Phillip Securities Research July 29 Close: $15.53 DBS reported H1 2011 revenue of $3.75 billion and net profit of $1.5 billion. Annualised EPS fell 10 per cent q-o-q to $1.26 and NAV increased slightly to $11.47 from $11.39 in previous quarter. Q2 2011 revenue was $1.84 billion638 words
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Article145 2011-07-30 30 / 31 Conrad Tan - Compiled by Conrad Tan Sell DMG Partners Research July 29 Close: $14.16 SIA’s results disappointed, with core earnings for Q1 FY2012 representing less than one per cent of our and consensus’ full-year forecasts. The dismal results were due to a combination of weak breakeven load factor and escalating145 words
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505 2011-07-30 32 It aims to increase the open-ended fund’s size to 500b yen in 10 years to help boost its asset-management business Bloomberg Tokyo MITSUBISHI Estate Co, Japan’s largest developer by market value, plans to expand a property fund that targets pension investors to help boostBloomberg - 505 words
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Article, Illustration468 2011-07-30 32 Reuters Shanghai CHINESE mutual funds cut their recommended exposure to stocks while increasing bond holdings amid concern over inflation and further monetary tightening, a Reuters poll of fund managers for July showed. Mounting concerns over local government debt and a deadly train crash lastReuters; AP - 468 words
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Article, Illustration1192 2011-07-30 33 Teh Hooi Ling - The era of inflation and not just prices Spikes are found too in company profits, executive compensation, school grades and credit ratings SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior correspondent The writer is a CFA charterholder CONSUMER price inflation in Singapore rose to 5.2 per cent in June.Source: Stuart Rojstaczer and Christopher Healy - 1,192 words
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WEALTH REAL ESTATE
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Article1123 2011-07-30 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN JUNE 29 AND JULY 5, 2011 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 11 LANDED Watten Estate 3-Ter 29/06/2011 FH 2697 3600 1335 NON-LANDED Amaryllis Ville Apt 30/06/2011 99 9581,123 words
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305 2011-07-30 35 Tycoons ordered to move estate gates out of public land Reuters Hong Kong HONG KONG’S billionaires are finding it harder to buy peace and quiet these days. After years of turning a blind eye, the government this month issued regulations demanding tycoons moveReuters - 305 words
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Article, Illustration404 2011-07-30 35 Bloom berg Perth PROPERTY prices in Perth, the centre of Australia’s mining boom, may fall further this year after slumping the most out of any state capital in the past 12 months, an Australian Property Monitors economist said. “Perth will probablyBloomberg; BLOOMBERG - 404 words
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Article, Illustration314 2011-07-30 35 Bloomberg London UK house prices unexpectedly rose in July as a “gradual” increase in the supply of properties for sale helped to support values, Nationwide Building Society said. The average cost of a home increased 0.2 per cent to £168,731Bloomberg; AP - 314 words
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Advertisement50 2011-07-30 36 M iUDEMARS PlGUET Le maitre de I’horlogerie depuis 1875 60 basp 7 Oq o i O 1 m WM 2% a?? fO I 26 ?sa 4C Cq n sz°, U 1 ss? ylUDEMARS PlGUET u I La, mm r.jif ROYAL OAK OFFSHORE CHRONOGRAPH For enquiries, Tel: (65) 6238 6678 audemarspiguet.com50 words
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Page 1 Advertisements
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Advertisement61 2011-07-30 1 TIONG BAHRU REDUX The changing face of the neighbourhood L2-5 DINING For the love of cooking L6-7 LivingBTTHE BUSINESS TIMES WEEKEND JULY 30 31 2011 TRAVEL Bali’s hip new haunts L10-11 PHOTO: JOHN HENG PERSONAL SPACE White open spaces L12-13 GADGETS Encasing the iPad 2 L14 STYLE Plumes de Chanel61 words
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SHOPPING/DINING
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Article, Illustration2946 2011-07-30 2 / 3 Tan Teck Heng - Designer home offices, indie retail outfits, penthouse parties, a resident stormtrooper... Welcome to Tiong Bahru, where heritage is hip and old-world charm meets edgy entrepreneurship. By Tan Teck Heng By Tan Teck Heng thtan@sph.com.sg thtan@sph.com.sg TIONG Bahru resident Lim Kah Hoe is a hardcore Star Wars fPHOTOS BY JOHN HENG - 2,946 words
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Article896 2011-07-30 4 / 5 with BTWeekend Bar on 5 Mandarin Orchard Singapore, Level 5 333 Orchard Road Z 6831-6288 Bar on 5 is the ideal place to chill out and unwind after a hard day’s work. Located five floors above Orchard Road, it provides a fabulous view of the shopping belt. The beverage896 words
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Page 4 / 5 Advertisements
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Advertisement19 2011-07-30 4 / 5 Reach out to more than 100,000 readers daily in the Wine Dine Scheme. Contact Adeline Goh at 6319-6127 9681-828919 words
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DINING
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Article, Illustration2389 2011-07-30 6 / 7 Jaime Ee; Natalie Koh - BT Weekend meets up with foodies who are willing to give up successful careers in order to pursue their dreams of culinary excellence By Jaime Ee jaime@sph.com.sg By Natalie Koh natksl@sph.com.sg Mad about pizza http://www.facebook.com/PeckaPizzaProject?sk=info DAMIEN Tan is your ultimate doughboy. That’s what makes him happy playing withARTHUR LEE - 2,389 words
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Page 6 / 7 Advertisements
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Advertisement40 2011-07-30 6 / 7 WAT3 CLASSIFIED m t y m mfft Beautify you home with a new rug. :%K t V. Qt WAT^ BUY IT*SELL IT* FIND IT To find out more, turn to CLASS 92 in CATS Classified in The Straits Times now.40 words
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STYLE
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Article, Illustration858 2011-07-30 8 Melissa Lwee-Ramsay - Jewellery hits a new high with diamonds, diamonds and more diamonds from the haute collection of Plumes de Chanel. By Melissa Lwee-Ramsay mellwee@sph.com.sg GABRIELLE “Coco” Chanel once said: “If you weren’t born with wings, it doesn’t stop you from flying.” If anything, it certainly did not stopPHOTOS: CHANEL - 858 words
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Article, Illustration705 2011-07-30 9 Tam Yu Ling - Andrew Coxon, president of the De Beers Institute of Diamonds, explains what consumers should look out for when purchasing the precious stone. By Tam Yu Ling By Tam Yu Ling tamyl@sph.com.sg ADIAMOND’S 4Cs carat, colour, clarity and cut have always been the standard a buyer705 words
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TRAVEL
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Article, Illustration1402 2011-07-30 10 / 11 Corinne Kerk - Nature’s splendours aside, the chi-chi Seminyak area of Bali is now home to a growing number of fashionably original buildings with snazzy interior designs. By Corinne Kerk By Corinne Kerk btnews@sph.com.sg NOT only is the Island of the Gods full of stunning natural beauty from soft, sandy beachesPHOTOS: EMILY DIMOZANTOS; PHOTOS: ALBERT JUDIYANTO; PHOTOS: CORINNE KERK; CHESTER ONG - 1,402 words
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HOME & GARDEN
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Article, Illustration980 2011-07-30 12 / 13 Geoffrey Eu - personal space Simplicity is key in owner Mike Tan’s cosy home. By Geoffrey Eu By Geoffrey Eu btnews@sph.com.sg Decorating a new home and all that it entails may pose a considerable challenge to some people but for Mike Tan, it’s a relative breeze and not just becausePHOTOS: JOHN HENG - 980 words
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GADGETS
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Article, Illustration729 2011-07-30 14 Christopher Lim - Apple’s iPad 2 is pretty and pretty tough by itself, but the right case not only protects it from scratches and scrapes, but also personalises the tablet for your lifestyle. By Christopher Lim By Christopher Lim limchris@sph.com.sg Wrapsol for Apple iPad 2 ($49.90) Even the thinnest729 words
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HEALTH
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Article, Illustration852 2011-07-30 15 Cheah Ui-Hoon - A drug that treats endometriosis without causing the usual menopausal side effects may well prove to be the gold standard for the long-term management of the condition. By Cheah Ui-Hoon By Cheah Ui-Hoon uihoon@sph.com.sg WOMEN who suffer from endometriosis now have another drug to turn852 words
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SPORT
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Article, Illustration685 2011-07-30 16 Lee U-Wen - no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor IT was the most perfect of gifts for this soon-to-be 46-year-old. I am, of course, referring to the Singapore Lions’ gutsy World Cup second-round qualifier victory over arch-rivals Malaysia on Thursday, a monumental result thatFILE PHOTO - 685 words
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Article, Illustration358 2011-07-30 16 alex yoong - chequered flag| with alex yoong THE German Grand Prix last weekend was a great affair, the first time this season that we managed to see all the top three teams Red Bull, Ferrari and McLaren fight on an equal footing. It was aREUTERS - 358 words
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Page 16 Advertisements
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Advertisement34 2011-07-30 16 ~Catch former F1 driver Alex Yoong on Star Sports’ (mio TV Ch 115) and ESPN HD’s (mio TV Ch 117) coverage of this weekend’s Formula One Hungary GP on Race Day and Chequered Flag34 words
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BT CORPORATE GOLF LEAGUE 2011
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Article, Illustration223 2011-07-30 17 Justine Moss - The field is still very much wide open with five rounds to go. By Justine Moss btnews@sph.com.sg DEFENDINGchampionsOAAG may have drawn first blood during the Business Times Corporate Golf League’s opening round on Tanah Merah Country Club’s Garden course, yet with five more rounds ofYEN MENG JIIN - 223 words
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Article, Illustration463 2011-07-30 17 CIMB Group is very much involved with golf, whether as participants it has returned to play in this year’s League or as sponsors, with its active CIMB Junior Golf Development Programme. This programme, which started in June 2010, is aimed at helping young463 words
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Article, Illustration342 2011-07-30 17 Justine Moss - Reports by Justine Moss LEAGUE debutants Seagull Marine, a company which provides repair and maintenance services for the worldwide marine and offshore sectors, has had an excellent start to the competition, shooting a score of 101 to lie two off the pace. “We are pretty pleased342 words
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Page 17 Advertisements
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Advertisement21 2011-07-30 17 ~For a thorough list of rules and regulations and more information on the Business Times Corporate Golf League, please visit www.btgolf.com.sg21 words
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MOTORING
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Article, Illustration609 2011-07-30 18 Samuel Ee - Mercedes-Benz has made more than 1,000 changes to the latest C-Class, including a much-needed dynamic advantage. By Samuel Ee By Samuel Ee samuelee@sph.com.sg MERCEDES-BENZ’S update of its C-Class has finally given this stylish range of sedans the much-needed dynamic advantage in a competitive segment. In particular, the609 words
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Article, Illustration456 2011-07-30 19 samuel ee - by samuel ee samuelee@sph.com.sg Limited edition 911 Speedster Porsche has unveiled the new 911 Speedster, one that will be very sporty and very rare. Only 356 units as in the original 356 Speedster from 1954 are available. The latest open-top version is only the fourth Speedster from Porsche.456 words
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Article, Illustration683 2011-07-30 20 Samuel Ee - The top drivers are all relishing the challenge of the tight and twisty 4.381 km Hungaroring. By Samuel Ee f1 watch By Samuel Ee samuelee@sph.com.sg SO Vettel no longer seems to be in fine fettle. For the first time this year, Red Bull driverREUTERS, AFP PHOTOS - 683 words
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Page 21 Advertisements
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Advertisement29 2011-07-30 21 it?0000£,.L8LZ88.| 8 PLUMES DE CHANEL ITHE BUSINESS TIMES HIGH JEWELLERY EXHIBITION FROM 30TH JULY TO 25TH AUGUST #01-04 TAKASHIMAYA SHOPPING CENTRE, NGEE ANN CITY TEL: (65) 6836 7588 www.chanel.com29 words
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Page 22 Advertisements
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Advertisement92 2011-07-30 22 "PLUMES DE CHANEL" COLLECTION A tribute to Mademoiselle Chanel’s "Bijoux de Diamants" collection in which it features for the first time in the form of a sumptuous brooch, the feather inspires CHANEL Fine Jewellery to create a series of exceptional jewellery sets. Light, gracious and feminine, this ethereal motif is92 words
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Page 23 Advertisements
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Advertisement13 2011-07-30 23 c 9 X -i m i j* v V«a V CHANEL FINE JEWELLERY13 words
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