The Business Times, 23 January 2012

Lock icon This issue may only be viewed from the multimedia stations at NLB Libraries. See FAQ for more information.

Total Pages: 36
1 36 The Business Times

  • TOP STORIES
    • 689 2  -  Flexibility lost, having to apply for slots and parking bays earlier, avoiding peak periods By Ven Sreenivasan ven@sph.com.sg Singapore CHANGI Airport’s decision to force all non-scheduled flights to apply for slots is causing consternation among charter and private flight operators. Up until the
      689 words
    • 826 2 AP Columbia, South Carolina NEWT Gingrich stormed to an upset win in the South Carolina primary on Saturday night, dealing a sharp setback to Mitt Romney and scrambling the race to choose a Republican challenger to President Barack Obama. The win in the
      AP; AFP  -  826 words
    • 808 3  -  Could be precursor to involvement in OM’s US$500m smelting project in Sarawak By Ven Sreenivasan ven@sph.com.sg Singapore MAINBOARD-LISTED Boustead Singapore has clinched a critical claw-hold in the resources sector through the purchase of an 8.6 per cent stake in Sydney-listed manganese producer
      FILE PHOTO  -  808 words
    • 591 3  -  Influential forum says laws needed to deal with any threats By Anthony Rowley btworld@sph.com.sg Tokyo AN influential group of Japanese academics, former senior diplomats and business representatives is urging Prime Minister Yoshihiko Noda’s government to enact “national emergency legislation” in order
      591 words
    • 426 5 It will pay 6.85b rupees for the stake in Mumbai-based Godrej Consumer Products Bloomberg Mumbai TEMASEK Holdings Pte, Singapore’s sovereign wealth fund, has agreed to buy a 4.9 per cent stake in India’s Godrej Consumer Products Ltd for 6.85 billion rupees (S$173
      Bloomberg  -  426 words
    • 769 5  -  They made a combined $1 .52b in group profit, up 34.5% year-on-year By Nisha Ramchandani nishar@sph.com.sg Singapore FOURTH-QUARTER results are looking promising early in the reporting season, with all 13 of the Singapore Exchange-listed companies which released their financial results
      Compiled by BT  -  769 words
    • 1028 6  -  But some retailers may be affected by high rents and shortage of staff By Pang Jin Hu pangjh@sph.com.sg Singapore THIS year, which happens to be the Year of the Dragon, holds promise not just for the Total Fertility Rate (TFR) here but also
      REUTERS  -  1,028 words





  • COMPANY NEWS
    • 833 7  -  Funds using swaps to replicate an index’s performance have been unfairly labelled as riskier, says report. CORPORATE FOCUS By Jamie Lee leejamie@sph.com.sg RISKS of exchange-traded funds (ETFs) have been overblown by recent regulatory scrutiny, though this has prompted more disclosure from providers that
      AP  -  833 words
    • 1703 8  -  Teh Hooi Ling hooiling@sph.com.sg Senior correspondent THE Straits Times Index (STI) put on 2.1 per cent in the last week of the Year of the Rabbit. Last week also saw some of the busiest trading days in months. The rise in stock prices
      1,703 words
    • 1787 10  -  But last week sees several significant corporate shareholder trades in local market. INSIDE MARKETS By Robert Halili ~The writer is managing director, Asia Insider Ltd THE trading among directors plunged in the week before the Chinese New Year holidays with only 12 companies that recorded 20
      1,787 words




  • SINGAPORE NEWS
    • 729 11  -  Local researchers have come up with a ‘bioglue’ that is a cheaper, safer, and ‘greener’ alternative to existing glues By Eve Yeo e vey py eo@s p h .c o m .sg THE intoxicating whiff of glue and the associated health hazards may
      ARTHUR LEE  -  729 words

  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 813 12  -  The site is a useful base from which to better understand the various products available. By Mindy Tan tanmindy@sph.com.sg IF there is one website the young investor should be familiar with, it is arguably sgx.com, where investors can access daily market updates, product video clips and
      813 words
    • 1101 13  -  Venturing into the Middle East has opened many doors for Tocco Studios. By Jasmine Ng STARTING YOUNG By Jasmine Ng jasng@sph.com.sg TAKING a big leap into unknown territory is not the usual formula for small start-up businesses. But three-year-old Tocco Studios reckons this could provide
      YEN MENG JIIN  -  1,101 words

  • Page 13 Advertisements
    • 162 13 Get started now Be a young investor Do you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to
      162 words

  • VIEWS FROM THE TOP
    • 5696 14 this week’s topic: How do you see this year turning out for your industry, and for the economy generally? As we enter this Year of the Dragon, what message do you have for your fellow Singaporeans? Jeremy Lee CEO Fortis Healthcare Singapore THE Year of
      YEN MENG JIIN  -  5,696 words




  • WORLD
    • 798 18 Value of Wall St banks’ chief execs’ stock awards declines as lenders curb 2011 bonuse AP New York JPMORGAN Chase, the largest US bank, posted a record profit for 2011. That didn’t translate into a bigger bonus for CEO Jamie Dimon.
      AP  -  798 words
    • 364 18 Reuters Washington A US appeals court has dismissed a lawsuit by the financial industry challenging new federal regulations aimed at cracking down on speculation in commodities markets a move that will likely delay a decision over
      Reuters  -  364 words
    • 246 18 AFP London THE organisers of this year’s London Olympics said yesterday they were investigating claims that cuddly toy versions of the Games mascots are being made by poorly paid workers in a Chinese factory. Golden Bear, based in Telford, central England, has
      AFP  -  246 words
    • 668 19 An agreement with bondholders is key to a second financing package for the cash-strapped country Bloomberg Athens GREECE and its private creditors said that they had made progress during talks in Athens on a debt-swap accord needed to lower the country’s borrowings and clear
      Bloomberg  -  668 words
    • 511 19 AFP Frankfurt CRISIS-HIT eurozone banks are parking record amounts of cash at the European Central Bank (ECB) for overnight storage, despite low interest rates, indicating to some analysts the threat of a new credit crunch. Every day seems to bring a new record. On
      AFP; REUTERS  -  511 words
    • 719 20 They are predicting natural disasters and financial volatility in 2012 AFP Hong Kong WANT to know what’s in store for 2012? Who will win the US election? Will the eurozone implode? China’s feng shui masters tackle the big issues with
      AFP; REUTERS  -  719 words
    • 654 20 AFP Tokyo AFTER British whistleblower Michael Woodford was sacked as CEO of Olympus and revealed the Japanese firm had covered up losses of US$1.7 billion, he mounted a campaign to get his job back. His effort though went nowhere, with Japanese financial institutions
      AFP  -  654 words
    • 625 21 Recent reforms have ensured growing interest from foreign firms but many obstacles remain AFP Yangon DRAMATIC changes afoot in Myanmar have whet the appetite of foreign investors who are eyeing a slice of the frontier market’s rich and largely untapped economic potential. As the new
      AFP  -  625 words
    • 401 21 AFP Zurich ECONOMIC and political elites meeting this week at the Swiss resort of Davos will be asked to urgently find ways to reform a capitalist system that has been described as “outdated and crumbling”. “We have a general morality gap, we are
      AFP  -  401 words
    • 492 22  -  By Beijing Jeff Pao EJ Insight Beijing THE income gap between urban and rural residents in China has narrowed as a result of increases in agricultural production and prices, according to data from the National Bureau of Statistics (NBS). The gap, measured as the
      EJ Insight; BLOOMBERG  -  492 words
    • 584 22  -  Not investors, for sure, as they pooh-pooh fickle downgrades in Europe, US MALAYSIA INSIGHT S Jayasankaran KL correspondent btworld@sph.com.sg Perhaps we should no longer bother with what the rating agencies have to say; investors don’t seem to anyway. When Standard and Poor’s
      584 words
    • 720 23 The speed of China’s growth is storing up huge social problems AFP Beijing CONSTRUCTION worker Xie Feng arrived in Beijing three months ago from the tropical southern Chinese island of Hainan and is finding life in the city cold and lonely. “Look at
      AFP; REUTERS  -  720 words
    • 259 23 Bloomberg Beijing HEAVY snow and freezing rain that has hit central and eastern China in the past three days will continue through today, disrupting transport as the Chinese New Year holiday spurs what’s usually the world’s biggest annual human migration. The China Meteorological Administration
      Bloomberg  -  259 words
    • 755 24 Country’s poor infrastructure is inadequate for the pace of growth it hopes to sustain AFP Jakarta INDONESIA’S designs on joining the top table of global economies have been boosted by its upgrade to investment status, but corruption and a poor infrastructure are hurdles
      AFP  -  755 words
    • 406 24 AFP New Delhi INDIA’S central bank will keep interest rates at close to four-year highs when it meets tomorrow despite mounting anxiety over cooling growth in Asia’s third-largest economy, analysts say. While other developing nations from Brazil to Indonesia have cut rates to
      AFP  -  406 words
    • 469 25 Two people from the carmaker’s new owner have cropped up as favourites Kuala Lumpur IT may still be early, but the guessing game on the man to lead Proton Holdings Bhd into a new era has begun after Khazanah Nasional, the Malaysian
      469 words
    • 406 25 Bloomberg Berlin IND O NE S IA t h e w o r l d s third-largest rice consumer, wants to increase domestic production of the grain by 10 million tonnes, Agriculture Minister Suswono Asyraf said. “Our farmers can produce 37 million tonnes, but
      Bloomberg; REUTERS  -  406 words
    • 463 25 AFP Jakarta A COMMUNITY in eastern Indonesia has placed 1,000 pink adenium flowers outside the local parliament, police station and courtroom, not to say thanks, but to send a message: Leave our children alone. In recent weeks, Indonesians outraged by reports of children
      AFP  -  463 words

  • Page 19 Advertisements
    • 73 19 BIGGER BICEPS MADE EASY P46 V, 1 THESEX ISSUE! THENEWRULES OFSEDUCTION! HER BODY’S SECRET HOTSPOTS REVEALED! HAVE THE SEX OF YOUR DREAMS! SUPERHERO WORKOUTS. Build The Muscles That I Can ReallySawe Lives! I UH URBANATHLON A Men’sHealth; MENSHEALTH.COM.SG URBANATHLON 2012 FINAL CALL FOR) REGISTRATION! j REDEFINE YOUR LIMITS! 9 URBAN
      73 words



  • Page 22 Advertisements
    • 70 22 Valentine’s Promotion Subscribe to Shape and Men’s Health! FREE six issues when you sign up for 12 issues at only $72! PLUS Win a pair of Ingersoll watches* worth $1,148 when you subscribe! Three pairs (Ingersoll Corondo for him, worth $559 each, and Ingersoll Baton Rouge for her, worth $589
      70 words


  • Page 24 Advertisements
    • 25 24 LISTEN OUT FOR FINANCIAL RESULTS ANNOUNCEMENT Find out more about a company’s financial performance through CATS Notices in The Straits Times. WATS NOTICES cla/dec 05/clj
      25 words


  • AVIATION
    • 458 26 Surprise compromise on long-stalled aviation legislation cited as model for bipartisan cooperation Reuters Washington CONGRESSIONAL leaders reached a breakthrough compromise on Friday on the most difficult issue holding up action on long-stalled US aviation legislation that would accelerate modernisation of the ageing air traffic
      Reuters; BLOOMBERG  -  458 words
    • 226 26 Bloomberg Montreal BOMBARDIER Inc wants to sign up about 40 customers for its CSeries jets by the time the aircraft enters service at the end of next year, senior vice president Chet Fuller said. Swiss charter carrier PrivatAir on Thursday became the 11th
      Bloomberg  -  226 words
  • Page 26 Miscellaneous
    • 350 26 CRYPTIC CROSSWORD Across 1 Form of decoration that has grown over the years (9,4) 10 Suitable present for a lady? It depends on the listener (7) 11 Seasoning duck with orange, perhaps (7) 12 Riddle involves a Kipling poem, in a way (4) 13 One small bird and an enormous
      350 words

  • SHIPPING
    • 605 27 Hopes dwindle of finding someone who may have miraculously survived in air pockets a week after the tragedy AFP Giglio island, Italy DIVERS salvaged on Saturday a hard disk from Italy’s capsized cruise ship with video footage that could shed light on the
      AFP; AP  -  605 words
    • 408 27 Bloomberg London RENTS for ships hauling refined fuels will gain the most among oil tankers in 2012, rising as much as 20 per cent because of longer voyages and scrapping of older vessels, Credit Suisse Securities LLC said. Daily rents
      Bloomberg  -  408 words
    • 258 27 SGX '000 Jan 20 S$ +/-Vol CH Offshore 0.37 unch 131 Chuan Hup Hldg 0.21 unch 123 Cosco Corp 1.09 0.03 ***** s$ Ezra Hldgs 1.01 0.01 5812 First Ship Lea 0.24 -0.07 ***** Freight Links 0.06 unch 810 Grand Banks unch unch 0 Jaya Hold Ltd 0.49
      258 words

  • 4357 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 STXPO TBN Antwerp/UK Destination STXPO TBN
    4,357 words



  • Page 31 Advertisements
    • 80 31 W SINOKOR MERCHANT MARINE CO. LTD OUR OFFICE WILL BE CLOSED FROM 23 TO 25 JANUARY 2012 WE WISHES ALL OUR CUSTOMER HAPPY PROSPEROUS LUNAR NEW YEAR GONG XI FA CAI SINOKOR SINGAPORE PTE LTD 200 Cantonment Road TEL: (MAIN): 6226 1516 #02-05 Southpoint FAX: 6220 6965 S’pore *****3 UEN:
      80 words

  • SINGAPORE STOCKS
    • 79 32 Jan 20 COCOA (£/tonne) Close Prev High/Low Mar 12 1489 1537 1541/1487 May 12 1502 1548 1550/1499 Jul 12 1517 1563 1565/1514 Sep 12 1530 1575 1577/1528 COFFEE(US$/tonne) Close Prev High/Low Jan 12 1917 1863 Mar 12 1932 1878 1942/1878 May 12 1955 1904 1961/1903 Jul 12 1981 1930
      79 words
    • 70 32 Jan 20 GOLD(US$/oz) Jan 19 Jan 20 Hong Kong 1674.50 closed closed Jan 19 Jan 20 London 1655.66 1657.31 1656.43 1658.08 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 39.30 38.63 Source: UOB PLATINUM/ Lon (US$/oz) Jan 20 Close Previous PM Fix 1517.00 1530.00 AM Fix 1507.00 1537.00
      70 words
    • 106 32 As on 20 January 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT FEB2012 1665.20 1645.40 1664.40 149 CURRENCY AUD-USD FUT MAR2012 1.0414 1.0334 1.0406 3492 EUR-USD FUT MAR2012 1.2983 1.2891 1.2931 9901 USD-JPY FUT MAR2012 77.22 76.89 76.94 3488 BASE METAL
      106 words
    • 103 32 Jan 20 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Mar 12 1187.00 1197.00 1204.00 1183.00 May 12 1195.50 1204.25 1210.50 1191.00 Jul 12 1204.50 1212.50 1218.25 1199.75 Aug 12 1201.25 1210.00 1216.00 1200.00 SOYBEAN/OIL(60,000 lbs; USc/lb) Close Previous High/Low Mar 12 50.43 51.06 51.23 50.05
      103 words
    • 75 32 Jan 19 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 110.81 -0.10 WTI (Near Mth) 100.32 -0.45 Dubai (1-Mth F) 109.21 -0.58 Tapis blend 117.75 -0.33 Minas 115.95 -3.33 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 104.61 1.05 Jet Kerosene 125.55 -0.75 US$/barrel Opec Oil Basket Price
      75 words
    • 57 32 Jan 20 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Feb 12 3180.0 3163.0 3181.0 3161.0 158 3553 Mar 12 3185.0 3162.0 3185.0 3153.0 2561 ***** Apr 12 3176.0 3165.0 3183.0 3147.0 6559 ***** May 12 3174.0 3152.0
      57 words
    • 78 32 Jan 20 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****A 26-Apr-12 0.34 1-Year BY*****W 01-Nov-12 0.34 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01-Jul-13 102.8 5-Year N*****0W 1.125 01-Apr-16 102.44 Day's 10-Year NX*****X 2.250
      78 words
    • 154 32 Jan 20 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3272 1.3290 1.0422 1.0432 Canadian dollar 1.2573 1.2583 0.9873 0.9877 Euro 1.6512 1.6521 1.2966 1.2968 NZ dollar 1.0217 1.0226 0.8023 0.8027 Sterling pound 1.9729 1.9739 1.5492 1.5494
      154 words
    • 118 32 Jan 20 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.354 1.29 Can dollar 1.28 1.231 Euro 1.68 1.616 Sterling pound 2.007 1.93 NZ dollar 1.048 0.999 US dollar 1.291 1.242 Local dollars to 100 units of foreign currency: Currencies Sell
      118 words
    • 69 32 Jan 20 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2182.75 2196.75 3 months 2217.00 2232.00 Copper, Grade A (US$/tonne) Cash 8207.00 8355.00 3 months 8220.00 8365.00 Lead (US$/tonne) Cash 2158.75 2156.50 3 months 2184.00 2183.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
      69 words
    • 371 32 In local curr In S$ In US$ dy yr dy yr dy yr Jan 20 Index Change Change Change Change Change Change World Preliminary 864.6 -0.1 4.2 -0.1 2.4 0.0 4.2 EAFE Preliminary 710.5 0.3 4.2 0.4 2.4 0.5 4.2 Europe Preliminary 1067.6 -0.3 4.0 -0.1 2.0
      371 words
    • Article, Illustration
      87 32 YTD change: +7.67% 52-week high: 3,238.38 on Jan 20,2011 52-week low: 2,521.95 on Oct 5,2011 Source: Bloomberg YTD change: +9.09% 52-week high: 24,468.60 on Apr 8,2011 52-week low: 16,170.30 on Oct 4,2011 Source: Bloomberg YTD change: +4.12% 52-week high: 12,876.00 on May 2,2011 52-week low: 10,404.40 on Oct
      Source: Bloomberg  -  87 words

  • BizIT
    • 1152 33 The turnabout was so unexpected that some think the online world’s triumph signals a pivotal moment NEWS ANALYSIS AP WashingtonOUTSPENT but hardly outgunned, online and hightech companies triggered an avalanche of Internet clicks to force Congress to shelve legislation that would curb online piracy.
      AP; AFP  -  1,152 words
    • 613 34  -  Travel site reports a sevenfold rise in revenue from customised e-mail flyers By Victoria Ho vhoip@sph.com.sg Singapore ONLINE travel site, Zuji, has joined the growing number of companies deploying data analytics to mine its database, in order to keep ahead of the
      613 words
    • 398 34  -  REUTERS BREAKINGVIEWS By Wayne Arnold Reuters Hong Kong SAMSUNG’S US$41 billion investment splurge should ring alarm bells at its competitors. At least half of the Korean conglomerate’s planned outlays will probably go to expanding its global lead in smart phones and the
      Reuters; AP  -  398 words
    • 307 34 Reuters Shanghai CHINA Communist Party members can now carry a tablet PC to verify identification cards, read the blogs of cadres, and manage state-owned firms without fretting that using a bourgeois Apple Inc iPad will ruin their street cred. Enter RedPad
      Reuters  -  307 words
    • 1066 35  -  Omnia W, Android champ Samsung’s first Windows Phone 7.5 device, is good but users still have to wait for Windows phone ecosystem to mature. By Victoria Ho cool stuff By Victoria Ho vhoip@sph.com.sg THE Windows Phones are making a big splash this year, and the inaugural
      1,066 words
    • 419 35 Reuters San Francisco GOOGLE Inc’s accelerated efforts to carve out a position in the fast-growing mobile and social networking markets leapt into the spotlight on Friday, a day after the giant Internet company reported a rare earnings miss. The company’s investments in
      Reuters  -  419 words
    • 1025 36  -  IDC also says cloud is forcing firms to look for efficient storage management software. By Amit Roy Choudhury By Amit Roy Choudhury THE Singapore storage software market is expected to grow by a modest 4 per cent this year, according to
      1,025 words
    • what’s up
      • 34 36 GOOGLE has opened its new, larger office, moving from 8 Shenton Way to Marina View. The new premises will house its developer relations, sales, marketing, engineering and operations personnel.
        34 words
      • 47 36 JOSHUA Soh has been appointed the managing director for Cisco’s businesses in Singapore and Brunei. He joins the company from IBM, where he was its head of global technology services in Vietnam, as well as country manager of integrated technology in Singapore.
        47 words
      • 45 36 OLIVIER Legrand will start his role as senior director, marketing solutions for Asia-Pacific and Japan at LinkedIn in February. He joins the social networking company from Dow Jones, where he headed The Wall Street Journal’s digital business in the region.
        45 words
      • 35 36 TERRY Smagh is the new vice president of sales for South East North Asia at QlikTech. The business intelligence firm opened its Singapore office at the start of January 2010.
        35 words
      • 45 36 BOSE has released its new Bluetooth headset Series 2 to the market. It is touted to reduce audio interference from background and wind noise. It retails for $249 at retail stores, as well as its distributor here, Atlas Experience Audio’s stores.
        45 words
      • 54 36  -  Compiled by Victoria Ho WESTERN Digital has announced the launch of its new My Book Live Duo, a portable hard disk which hooks up to a wireless network in order to create a “personal cloud”. It is able to use half its capacity to provide
        54 words