The Business Times, 31 July 2012

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Total Pages: 30
1 30 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg Sp!l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 120/08/2011 Tuesday, July 31, 2012
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  • Article
    Lock icon F&N fails in bid to take HK property unit private
    745 1  -  Deal rejected by shareholders after I FA points out deep discount to NAV By CAI HAOXIANG [SINGAPORE] A bid by Fraser Neave (F&N) to privatise its Hong Kong-listed subsidiary Frasers Property (China) failed yesterday after independent shareholders rejected the deal
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  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 GST INDEX 3,032.80 (+34.31) GST INDEX FUTURES 3,033 (+35) GSIMSCI 350.57 (+4.23) GSIMSCI FUTURES 351.30 (+4.70) US$ S$ US$ (S$ per US$) 1.248 (US$/S$ per 1.571 1.960 EURO (US$/S$/E) 1.229 1.533 Foreign currency per US$ S$ YEN 78.30 62.70 RM 3.152 2.526 HK$ 7.755 6.216 BAHT 31.57 25.30 RUPIAH
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    • Article
      Lock icon MARKETS
      48 1 Monday Change KL COMP 1,632.35 +7.41 NIKKEI 225 8,635.44 +68.80 HANG SENG 19,585.40 +310.44 SET INDEX 1,193.32 +15.31 JAKARTA COMP 4,099.12 +14.91 MANILA COMP 5,277.90 +58.35 SEOUL COMP 1,843.79 +14.63 SHENZHEN B 563.39 -19.89 MUMBAI IND 17,143.68 +304.49 12noon EDT Change DOW 13,056.74 -18.92 NASDAQ 2,944.69 -13.40
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    • Article
      Lock icon PRIME RATES
      17 1 SINGAPORE 5.38 MALAYSIA 6.55 HONGKONG 5.00 INDONESIA 14.202 TAIWAN 5.036 JAPAN 1.475 Source: Source: Bloomberg
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  • Article, Illustration
    Lock icon Two huge meetings and a slew of economic data
    878 1  -  World waits with bated breath for impact of week’s events on global economy By TEH SHI NING [SINGAPORE] It’s a big week for the world economy, with two critical central bank meetings and an unusually heavy load of economic data being
    AP  -  878 words
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      98 1 PRIVATE HOMES Another week of brisk sales PAGE 30 S’PORE STOCKS Brokers wary as SGX plans margin rules PAGE 3 ANNUAL REPORT GIC raises cash reserves, cuts equity, bond exposure PAGE 2 Inc Keeping the cash crunch at bay I PAGE 11 Matching companies with the right talent I PAGE
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      19 1 OLYMPICS China hits out at drug use claims PAGE 19 PRODUCTIVITY MATTERS Driving the economy forward I PAGE 13
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  • TOP STORIES
    • Article
      Lock icon THREE-MINUTE DIGEST
      380 2 Flood of global economic data looms IT’S a big week for the world economy, with two critical central bank meetings and an unusually heavy load of economic data releases due across US, Europe and Asia. The Federal Reserve and European Central Bank policymakers will issue policy statements this
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    • Article
      Lock icon GIC raises cash reserves, cuts equity, bond exposure
      731 2  -  Investment returns to stay low until global economy gets back to sustainable growth, it says Reports by CONRAD TAN [SINGAPORE] The Government of Singapore Investment Corp (GIC) has raised its cash reserves sharply and cut its exposure to both equities and bonds,
      731 words
    • Article
      Lock icon Banking on a tolerance for short-term losses
      403 2 Holding power allows GIC to buy assets cheap in crisis PATIENT investing earns better returns, and the Government of Singapore Investment Corp sees its tolerance for short-term losses as a key advantage to be fully exploited. Its vast holding power allows GIC to
      403 words
    • Article
      Lock icon How, why and when GIC uses external fund managers
      301 2 EXTERNAL fund managers are used by the Government of Singapore Investment Corp for more than the financial returns they offer, GIC said. When GIC was in its infancy, it invested with external managers to benefit from their experience, expertise and understanding
      301 words
    • Article
      Lock icon Continued strong demand for finance skills
      469 2  -  Survey shows firms are confident and set on hiring more By WANG XIN MIN [SINGAPORE] Despite the grim economic outlook, skilled finance, accounting and banking professionals have reason to cheer, as demand for such talent will remain strong for the rest of the year,
      469 words
    • Article
      Lock icon Correction
      138 2 IN our report “No distributions for FSL until June 13” (BT, July 24), we said that “much of the (FSL Trust’s) higher expense has been the result of FSL Trust taking back the ships it had chartered to financially beleaguered Berlian Laju Tankers (BLT) and Denmark's Torm, and redeploying
      138 words
    • Article
      Lock icon Brokers wary of costs, contra as SGX plans margin rules
      618 3  -  Proposed new margin will be first line of defence if member defaults By KENNETH LIM [SINGAPORE] Stockbrokers who clear through the Singapore Exchange’s (SGX) Central Depository (CDP) may need to post margin collateral next year, a move that has drawn
      618 words
    • Article, Illustration
      Lock icon New KL financial hub to draw global firms
      452 3  -  Special task force set up to review business regulations By PAULINE NG in Kuala Lumpur MALAYSIA’S Prime Minister Najib Razak launched a new financial district in Kuala Lumpur yesterday which the government has ambitiously projected will attract more than 250 “world leading
      AFP FILE PHOTO  -  452 words
    • Article, Illustration
      Lock icon Howard Shaw gets 12-week jail sentence
      882 3  -  Judge says efforts to check minor’s age a factor in sentencing By GRACE LEONG [SINGAPORE] Howard Shaw, the second of 51 men to be sentenced for paid sex with an underage prostitute, received a 12-week jail term yesterday for one count of violating Singapore’s
      AFP  -  882 words
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      54 2 Seal the deal with illuoi|u. The mobile app that lets you translate business terms from English to Chinese, illuayu is now available for free download on iPhone. r ■fr xfng 0 V J Mandarin. It Gets Better with Use. PROMOTE MANDARIN COUNCIL ft r it V 0 0 0 Available
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      351 3 GIVE YOU LOWER INTEREST RATES -Jl With OCBC Securities’ first-to-market QualityPriced Loan feature, you can potentially enjoy lower interest rates* on your SGD share financing loan. This new feature of your Share Financing Account rewards you with a lower blended interest rate when you hold a larger quantity of high
      351 words
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      589 4 Entering The Land Of The Dragon The Success Of Chow Tai Fook Jewellery Speaker: Mr Kent Wong Chow Tai Fook Jewellery Group Limited Managing Director Under the visionary leadership of Mr Wong, Chow Tai Fook blazed trails in China with 500 franchised outlets in just a few years. Today, it
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon Market still hesitant on Wilmar shares
      411 4  -  Analysts mixed in views on reports of China pressure on cooking oil price By ANDREA SOH AFTER plunging 4.4 per cent last Friday, Wilmar shares fluctuated between $3.25 and $3.31 yesterday as the market continued to grapple with reports of the company facing pressure
      Source: Bloomberg  -  411 words
    • Article, Illustration
      Lock icon Bid to block Eastern buyback resolution fails
      415 4  -  EGM WATCH By KENNETH LIM MINORITY shareholders of Eastern Holdings tried unsuccessfully to block a controversial share buyback resolution at the company’s annual general meeting yesterday, amid a privatisation bid by the company’s chairman. “You can swallow only so much, you can’t swallow
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    • Article
      Lock icon Luye Pharma suspended as shareholder amasses 92.6%
      451 4  -  By CAI HAOXIANG QUESTIONS hang over whether China drug company Luye Pharma Group will be privatised after its majority shareholder raised its stake to 92.63 per cent as a result of married trades made last Friday. This led to trading in shares of
      451 words
    • Article
      Lock icon Keppel FMO secures contract with CAG
      199 4  -  By TEO SI JIA FACILITIES management company Keppel FMO Pte Ltd has bagged a five-year maintenance contract from repeat customer Changi Airport Group (CAG). The subsidiary of Keppel Integrated Engineering Ltd will provide its facilities management services for mechanical and electrical (M&E) systems in
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    • Article, Illustration
      Lock icon Grand Banks again in choppy waters
      568 7  -  Two shareholders call for board members to be removed at EGM By LYNN KAN RIGHT after yacht builder Grand Banks Yachts thought it had sailed into calmer seas, another roiling wave is tossing it back to choppier waters. A pair of shareholders Peter Cheng
      FILE PHOTO  -  568 words
    • Article
      Lock icon Tuan Sing Q2 profit more than doubles
      330 7  -  Group confident in long-term prospects of S’pore, China markets By LEE U-WEN DEVELOPER Tuan Sing Holdings posted a second-quarter net profit of $11.6 million, up more than two-fold from the previous corresponding quarter’s $4.3 million. Revenue jumped 76 per cent to $104.5 million.
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    • Article
      Lock icon Coming next – CapitaMalls in Tokyo, Qingdao
      465 7  - Coming next CapitaMalls in Tokyo, Qingdao By LEE MEI XIAN CAPITAMALLS Asia Ltd (CMA) has plans for two more malls in Asia. The group said on Sunday that it had acquired Olinas Mall in Tokyo for 22.8 billion yen (S$364 million) from Invesco Global Real Estate Asia Pacific. It said
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    • 2012 MARKET PERFORMERS
    • Article, Illustration
      Lock icon SingPost’s Q1 net profit slips 2.9% to $38.1m
      467 8  -  Domestic mail declines, but it sees growth in logistics, retail, global mail By JASMINE NG SINGAPORE Post (SingPost) reported a 2.9 per cent year-on-year dip in net profit to $38.09 million for the first quarter ended June 30 as it continued to
      FILE PHOTO  -  467 words
    • COMPANY BRIEFS
      • Article
        Lock icon Trek 2000 expects Q2 loss on chip write-off
        50 8 TREK 2000 International expects to report a loss for the second quarter and the six months ended June 30, due mainly to a one-time write-off of ASIC chips because of a design flaw. The group said it has rectified the design flaw.
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      • Article
        Lock icon Tat Hong to buy over leasing company
        101 8 TAT Hong Holdings has agreed to buy over the entire share capital of Jiangsu Hengxinmao Financial Leasing (HXM) from Yongmao Holdings for about US$2.63 million. Jintan-based HXM, dormant since its incorporation in 2010, had a net asset value of 16.48 million yuan (S$3.2
        101 words
      • Article
        Lock icon Riverstone Q2 net up 7.2% on higher sales
        60 8 RIVERSTONE Holdings’s net profit for the fiscal second quarter ended June 30 rose 7.2 per cent year on year to RM11 million (S$4.35 million). Turnover increased 19.5 per cent year on year to RM78.3 million due to growing demand for its healthcare
        60 words
      • Article
        Lock icon Sakari Q2 earnings slide 39%
        86 8 SAKARI Group reported a 39 per cent year-on-year decline in net earnings to US$23.94 million for the second quarter ended June 30, 2012. Turnover remained flat at US$238.01 million. Earnings per share for the quarter slipped to US$0.02 from US$0.03 a year ago. Year-to-date, the
        86 words
    • Article, Illustration
      Lock icon Hedge funds up their bets on commodities
      1062 8 Bloomberg [NEW YORK] Hedge funds raised commodity bets in the longest bullish streak in three years as speculation that policymakers will increase economic stimulus drove prices towards the biggest monthly rally since last October. Money managers raised their net-long positions across 18 US
      Bloomberg; REUTERS  -  1,062 words
    • Article
      Lock icon Cambridge Ind Trust’s Q2 DPU rises 13.9%
      387 8  -  NPI up 8.8% to $18.4m; gross revenue rises 10.4% By MINDY TAN CAMBRIDGE Industrial Trust (CIT) yesterday reported distributable income of $14.1 million, 14.8 per cent higher year on year, for its second quarter ended June 30. This reflects distribution per unit (DPU)
      387 words
    • Article, Illustration
      Lock icon Europe small firms star as macro factors hit big caps
      872 8 Reuters [LONDON] Small companies are emerging as the new star performers in Europe as investors seek strong earners, whose shares are less dependent on the macroeconomic environment than traditional large firms struggling with limp global growth. While the EuroSTOXX 50
      Reuters; BLOOMBERG  -  872 words
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      150 5 2.209 METRES IN 20 MINUTES* The extra effort our doctors put in to show you how easy it is. *Estimated length and time of the combined gastroscopic and colonoscopic examinations. Watch their story: “ENDOSCOPY A DOCTOR’S JOURNEY” on www.channelnewasia.com/mtenovena Stomach and colon cancers are major causes of death in Singapore.
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Asian markets surge on euro hopes
      522 6  -  ST Index, Hang Seng Index and Nikkei 225 rise firmly; Genting rebounds 7.4 per cent STOCKS JAMIE LEE Reporter SEVERAL Asian markets made firm gains yesterday on hopes that the European Central Bank will push through plans to ease the eurozone debt crisis situation,
      Source: Bloomberg  -  522 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      66 6 Jul 30 VALUE CLOSE BT OB/OS -248.00 +122.0 BT CADI -*****.00 +117.0 BT 10-day MA -*****.00 -24.00 FTSE ST Mid Cap 698.36 +2.93 FTSE ST Small Cap 457.03 +3.19 FTSE ST All Share 732.68 +7.28 FTSE ST China Top 201.19 +0.97 FTSE ST China 220.45 +0.01 FTSE
      66 words
    • Article
      Lock icon MOST ACTIVE STOCKS
      60 6 VOLUME Genting SP 118,578,000 Luye Pharma 75,106,000 Golden Agri 68,644,000 PSL Hldgs 48,312,000 ChinaFashion 44,872,000 NexGenSCom 42,919,000 GSH Corp 39,945,000 TT Intl 38,819,000 MDR 37,995,000 Noble Grp 29,204,000 VALUE($) Genting SP 152,575,190 SingTel 99,012,110 Luye Pharma 97,632,200 UOB 53,688,900 Golden Agri 50,324,430 DBS Grp 45,332,886 Keppel Corp
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 9 3 3 0 0 0 9 3 3 Manufacturing 57 38 41 6 6 9 63 44 50 Commerce 26 13 20 1 2 4 27 15 24 Tpt/Stor/Comms 18 11 12
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 12,576 12,576 66,345 66,345 Manufacturing 234,316 56,825 291,141 262,699 2,906 265,605 Commerce 234,427 1,332 235,759 86,933 97 87,030 Tpt/Stor/Comms 91,990 17,602 109,592 179,440 4,925 184,365 Finance 30,441 973 31,414 149,734 387 150,120 Construction 103,324 10,234
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    • Article, Illustration
      Lock icon BROKERS’ TAKE
      973 6  -  Compiled by JOYCE HOOI CDL Hospitality Trusts July 30 close: $2.07 Maybank Kim Eng Research, July 30 CDL Hospitality Trusts’ (CDLHT) Q2 2012 revenue rose 6 per cent y-o-y to $36.6 million, while the distributable income for unitholders decreased by 0.9 per cent y-o-y to $28.2 million, due
      Source: Bloomberg  -  973 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      112 6 Stock name Close Change Stock name Close Change CapMallsAsia 1.620 +0.005 CapitaLand 3.000 +0.020 CapitaMall 1.945 -0.005 CityDev 11.730 +0.090 ComfortDelGro 1.645 +0.010 DBS Grp 14.740 +0.090 F&N 8.340 -0.060 GLP 2.190 -0.010 Genting SP 1.315 +0.090 Golden Agri 0.735 +0.020 HK Land 5.890 -0.010 JMH
      112 words
    • Article, Illustration
      Lock icon Euro plumbs record low against A$
      453 6 CURRENCIES Reuters [NEW YORK] The euro fell yesterday, hitting a record low against the Australian dollar, on worries that the European Central Bank (ECB) may disappoint investors hoping for more actions to contain the debt crisis. Expectations for the ECB, which holds its policy
      Reuters; BLOOMBERG  -  453 words
    • Article
      Lock icon RISES
      111 6 BY CENTS CLOSE UP IS S&P500 ***** 339.3 2.0 DBXT USDIGInfl 5US$ ***** 277.0 0.8 DBXT iBoxxSing 5SG$ ***** 141.0 1.1 DBXT Nifty 10US$ 9499 131.0 1.1 DBXT MSKorea 10US$ 5365 97.3 1.5 JSH 3189 91.1 2.3 JMH 5235 81.1 1.3 Jardine C&C 4639 79.0 1.7 DBXT FTChina25 10US$
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    • Article
      Lock icon FALLS
      116 6 BY CENTS CLOSE DOWN DBXT S&P Short 10US$ 3687 -73.6 -1.6 SIA.ES.1208 1070 -20.0 -1.8 STXPO 100 436 -20.0 -4.4 GLD 10US$ ***** -16.2 -0.1 IS ASIA BND 100S$D 1303 -14.0 -1.1 F&N.ES.1207 829 -13.0 -1.5 F&N.ES.1208 828 -13.0 -1.5 SIA 200 1072 -12.0 -1.1 SIA 1072 -10.0 -0.9
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 6 DAILY
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      171 9 A w T Congratulations to Fortis Colorectal Hospital! The first and only colorectal hospital in Singapore and Southeast Asia. Combining innovative technology, medical expertise and dedicated patient care, Fortis Colorectal Hospital is poised to be at the forefront of colorectal care. Once again, we wish plenty of success to Singapore's
      171 words
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  • SINGAPORE NEWS
    • Article
      Lock icon Higher pay for fresh grads as firms hunt for talent
      477 10  -  Diploma holders are also paid higher this year than in 2011, survey reveals By KENNETH FOO DESPITE growing economic uncertainty, employers are giving higher starting salaries to fresh graduates this year, says management consulting firm Hay Group. Its annual graduate
      477 words
    • Article, Illustration
      Lock icon S’pore society conducive for integration: Tharman
      530 10  -  By MALMINDERJIT SINGH INTEGRATION is not a unique task facing Singapore but society here can take heart that it is occurring here in an environment that is upwardly mobile. “People who started out very poor became middleincome and many more from the lowest ranks
      TAMIL MURASU  -  530 words
    • Article, Illustration
      Lock icon Display of inverted trees, elements wins Garden awards
      270 10  -  By KENNETH FOO UPSIDE-DOWN trees swayed and trembled in an earthquake-in-spired sequence of moving elements and swirling lights. This breathtaking theatrical exhibit by local designer Eliam Eng got the most votes from the public to clinch the overall People’s Choice Award at
      270 words
    • SINGAPORE ROUNDUP
      • Article
        Lock icon Monthly claims for maternity from Aug 2
        105 10 EMPLOYERS and self-employed women will be able to make monthly reimbursement claims for government-paid maternity leave from Aug 2, 2012, the Ministry of Community Development, Youth and Sports (MCYS) said yesterday. For first and second-order births, employers can make monthly reimbursement claims from
        105 words
      • Article
        Lock icon MDA sets up council on ‘cyber wellness’
        134 10 THE Media Development Authority (MDA) yesterday said it will set up the new Media Literacy Council (MLC) on Aug 1 to educate the public about cyber wellness and media literacy. MLC is also tasked with advising government on the appropriate policy response to
        134 words
    • Article
      Lock icon Airport fee for departing travellers to rise
      342 10  -  By LEE U-WEN TRAVELLERS departing from Changi Airport will have to pay more from next April as the Passenger Service Charge (PSC) will go up by $6 to $19.90. The new amount will apply to all air tickets purchased from November this year
      342 words
    • Article
      Lock icon Competitors sharing sensitive info breaking law
      372 10  -  By WANG XIN MIN SHARING prices and sensitive market information with a competitor, whether formally or informally, is against the law, warns Ameera Ashraf, head of Competition Regulatory Practice at WongPartnership. Even the passive receiving of such information just once may be deemed to
      372 words
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  • SME Inc
    • Article, Illustration
      Lock icon Keeping the cash crunch at bay
      966 11  -  SMEs may have a long cash conversion cycle but they can still ensure there is always money for operations, says MINT KANG MINT KANG A CASH crunch can be one of the most critical points in a company’s life the moment when a supplier
      YEN MENG JIIN  -  966 words
    • Article, Illustration
      Lock icon Bringing companies and the right talent together
      1324 12  -  Achieve has matched more than 5,000 candidates with organisations in the region in the past 5 years, report LIU ZHIYUAN, LIU ZHIYUAN DEEPIKA GUGLANI CHEN QIUYI The writers are students from NUS Business School IT certainly lives up to its name. Founded in
      FILE PHOTO  -  1,324 words
    • Article, Illustration
      Lock icon How to make a social media investment pay off
      950 12  -  Engage SMU profs MICHAEL NETZLEY Michael Netzley is an assistant professor of corpora te communication (education) at the Lee Kong Chian School of Business, Singapore Management University Q: Should SMEs invest in social media platforms? Is it always expensive? A: Nearly
      BLOOMBERG  -  950 words
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      398 11 PEOPLE STRATEGIES FOR ASIA-Harnessing Change, Managing Complexity Join Asia’s premier human capital and leadership conference the Singapore Human Capital Summit on 19-20 September. The ultimate knowledge exchange and networking platform for business leaders in Asia. Hear from more than 40 top regional and global speakers over two days as they
      398 words
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      70 11 HAVE an interesting story on an SME to share? Drop us a note on why you think the company should be featured in our weekly SME INC pages, with details like how much the company has grown, and its expansion plans. Send your e-mail to Felda Chay at feldac@sph.com.sg with
      70 words
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      98 12 HAVE a pressing question about a business-related issue that your company is facing? Professors from the Singapore Management University (SMU) will give expert advice and answers to your queries on a fortnightly basis. Just send us an e-mail with your query to btnews@sph.com.sg and include particulars, such as your name,
      98 words
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  • PRODUCTIVITY MATTERS
    • Article, Illustration
      Lock icon Driving the economy forward
      1160 13  -  The electronics industry is the largest component driving Singapore’s manufacturing engine and is a key contributor to GDP, reports VICTORIA HO ELECTRONICS reportsVICTORIA reportsVICTORIA HO THE electronics industry has long been Singapore’s pride, the largest component driving the country’s manufacturing economic engine. It single-handedly contributed 6
      BLOOMBERG FILE PHOTO; Source: Singapore Economic Development Board  -  1,160 words
    • Article
      Lock icon Where to go
      661 13 0© 0® 0® Schemes for all sectors: FUNDING WORK PROCESSES IMPROVEMENT WORKFORCE DEVELOPMENT LEGEND SCHEME WHAT YOU GET WHO TO CONTACT Productivity and Innovation Credit (PIC) Inclusive Growth Programme (IGP) iSPRINT Businesses can enjoy 400% tax deduction and/or a cash payout of up to $60,000 for their
      661 words
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon Draghi on quest for consensus on euro rescue
      862 14 European govts stand by him but biggest hurdle may still be Bundesbank [LONDON] European Central Bank President Mario Draghi has gone on the offensive as he seeks a game changer in the battle against the sovereign debt crisis. Mr Draghi, who sparked
      REUTERS  -  862 words
    • Article, Illustration
      Lock icon A$ safety valve role choked as commo slumps
      749 14 Investors, central banks fleeing euro push up Aussie unit Reuters [SYDNEY] Sinking prices for commodities such as iron ore and coal are sapping Australia’s export earnings and putting at risk billions of dollars of mining investment, a major reason it has so
      Reuters; REUTERS  -  749 words
    • Article
      Lock icon Asia faces higher meat prices as corn sets record
      632 14 Stock of substitute animal feed Aussie wheat depleting Reuters [SINGAPORE] As corn prices climb past the record levels hit this time last year, a major factor has changed for Asian importers of the grain: Australia no longer has heaps of cheap
      Reuters  -  632 words
    • Article
      Lock icon Consumer spending produces Q2 spurt in Sweden
      387 14 Bloomberg [STOCKHOLM] Sweden’s expansion unexpectedly accelerated in the second quarter as consumers in the largest Nordic economy boosted spending. Gross domestic product grew 1.4 per cent through June after advancing a revised 0.9 per cent the previous quarter, Stockholmbased Statistics Sweden said yesterday.
      Bloomberg  -  387 words
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      112 14 SHARElNVESTOR.com The Pulse Of Trading VY e Lucky Stand a chance to win attractive cash prizes when you sign up or renew your Sharelnvestor membership plan. More than $6000 worth of cash prizes to be won! 2nd ’rize $1000 4th Prize $200 each X 10 winners Top Prize $2000 3rd
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      29 14 THE STRAITS TIMES SUBSCRIPTION PLEASURES Subscribe Now And Get This Or Other 0T0 Gifts! OTO e-Cuddle Neck Shoulder Massager u.p.$180 Find out more at www.STsubscribe.com or call 6388 3838
      29 words
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon M’sia among most exposed to a ‘perfect storm’
      564 15  -  Warning comes from RGE, which forecast 2008 financial crisis, US housing bust By S JAYASANKARAN in Kuala Lumpur A GLOBAL economic consultancy has named Malaysia as one of four “vulnerable” Asian economies in the event of a “perfect storm” in the world
      564 words
    • Article, Illustration
      Lock icon Upgrade or ship out, Indonesia tells miners
      540 15 Reuters [JAKARTA] Indonesia is prepared to suffer a drop in mining exports as it seeks to force firms to invest in processing ores into refined metals, part of the government’s long-term strategy to upgrade the economy, its trade minister said. New rules slapping
      Reuters  -  540 words
    • Article
      Lock icon MRCB seen winning RM1b railway deal
      273 15 [KUALA LUMPUR] Malaysia Resources Corp Bhd (MRCB) is expected to win a contract worth about RM1 billion (S$396 million) this week for the Sungai Bu-loh-Kajang (SBK) MY Rapid Transit (MRT) line. If awarded, this will be the first railway-related job for MRCB this year,
      273 words
    • Article, Illustration
      Lock icon KL raises crude palm oil export quota
      614 15 Move helps planters cope with expected increase in output Reuters [KUALA LUMPUR] Malaysia will increase shipping quotas for tax free crude palm oil by up to two million tonnes this year to help planters cope with an expected increase in output, sources said
      Reuters; REUTERS  -  614 words
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      30 15 New V firefly Singapore to f *7 1 Kota Bharu (from 10 Aug 2012) Also fly from Singapore to BOOK mowSubang Ipoh Kuantan www.fireflyz.com.my I +65 *****833 E B ■Sfirefly
      30 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon Beijing scrambles to hold falling yuan up
      783 16 Enduring weakness if euro, some other currencies blamed for its recent decline Reuters [SHANGHAI] Market forces are mostly to blame for the yuan’s unprecedented fall against the dollar in recent months, market participants say, with Chinese regulators now busy propping up the currency,
      Reuters; REUTERS  -  783 words
    • Article
      Lock icon Reduce forex speculation, RBI tells companies
      292 16 Reuters [MUMBAI] India’s central bank wants companies to depend less on speculative trades in foreign exchange to generate profits, as it causes volatility in the rupee, and instead focus on their core businesses, a senior official said. Large amounts of speculation by corporates had
      Reuters  -  292 words
    • Article
      Lock icon India suffers worst blackout in more than a decade
      461 16 More than 300m in New Delhi, northern part without power Reuters [NEW DELHI] Grid failure left more than 300 million people without power in New Delhi and much of northern India yesterday in the worst blackout for more than a decade,
      Reuters  -  461 words
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      841 16 SERIES Effective Leadership Customer Service Skills AUGUST 2012 FULL-DAY WORKSHOPS 27 Aug, 2012 (Mon) 23 Aug, 2012 (Thu) Unlock Your Personal Charisma The Unspoken Secret of the Successful SPH News Centre (9.30am to 6.00pm) Who should attend: What you will learn: How to connect with anyone (including difficult people) and
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      392 17 ST JOBS S> CAREERS DEVELOPMENT2012 www.stjobs.sg/fair 5TJOBS Voted No.1 Recruitment Site by Marketing Magazine (2011) STJOBS.sg j NK YOU! for making ST JOBS’ Career Development Fair 2012 an overwhelming success If you were among the 40,000 visitors at STJobs' Career Development Fair held at Suntec on 28 and 29 July,
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  • WORLD
    • Article, Illustration
      Lock icon HSBC apologises for compliance failings
      575 18 It sets aside US$2b more to cover the costs of regulatory fines and lawsuits Bloomberg [LONDON] HSBC Holdings plc, the British bank accused of laundering money for Mexican drug lords, apologised to investors for compliance failings as it set aside US$2 billion more to cover
      Bloomberg; REUTERS  -  575 words
    • Article
      Lock icon Eurozone economic sentiment at near 3-year low
      396 18 Even Germany and France aren’t spared; businesses turn more pessimistic Reuters [BRUSSELS] Economic sentiment in the eurozone fell to near a threeyear low in July as the bloc’s economy deepened its slump and businesses became more pessimistic. The 21/2-year debt crisis that spread
      Reuters  -  396 words
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      Lock icon Germany’sbreakeven rate falls amid worry over growth
      590 18 Bloomberg [LONDON] The falling cost of protecting against inflation in the German bond market portends a deeper slowdown in Europe’s largest economy, signalling the effects of the continent’s debt crisis are edging closer to the core. The two-year breakeven rate, a gauge of
      Bloomberg; BLOOMBERG  -  590 words
    • Article
      Lock icon UK sets out guidelines for Libor review
      597 18 It should consider whether to use actual traded rates Bloomberg Reuters [LONDON] UK Chancellor of the Exchequer George Osborne set out guidelines for a review aimed at preventing the manipulation of Libor, saying it should consider whether the benchmark should be based on
      Bloomberg; Reuters  -  597 words
    • Article
      Lock icon Italian yields fall after 5.5b euro bonds sold with strong demand
      415 18 Reuters [MILAN] Italy’s 10-year funding costs fell below 6 per cent for the first time since April at an auction yesterday, as hopes for a stronger crisis response from policymakers spurred demand for the debt of vulnerable euro zone
      Reuters  -  415 words
    • Article, Illustration
      Lock icon Japan June factory output unexpectedly falls
      578 20 Industrial production in June edged down 0.1% from the previous month AFP [TOKYO] Japan’s factory output turned down unexpectedly last month, official data showed yesterday, stoking concerns that turmoil overseas is damaging a recovery in the world’s third-largest economy. The output decline came amid
      AFP; REUTERS  -  578 words
    • Article
      Lock icon US megacap stocks shine amid uncertainty
      854 20 NYT [NEW YORK] Stocks around the world have been struggling lately, but one group of equities may ultimately benefit from all the fear and uncertainty: so-called megacaps. Ever since worries over the European debt crisis began to escalate more than a year and a
      NYT  -  854 words
    • Article, Illustration
      Lock icon SEC freezes assets of traders in Cnooc-Nexen probe
      758 20 The court order froze about US$38m in assets, says SEC Bloomberg [NEW YORK] The US Securities and Exchange Commission (SEC) obtained a court order to freeze assets of traders who allegedly reaped more than US$13 million by trading illegally ahead of Cnooc
      Bloomberg; REUTERS  -  758 words
    • Article
      Lock icon Support slips for Japanese PM on tax issue
      569 20 Approval for the ruling DPJ also slid 8 points to 18% Bloomberg [TOKYO] Support for Japanese Prime Minister Yoshihiko Noda’s cabinet fell to 28 per cent, after his party split earlier this month over the passing of legislation that will double the
      Bloomberg  -  569 words
    • Article
      Lock icon Berkshire Bank files class action suit against alleged Libor fixers
      256 20 Bloomberg [NEW YORK] The Berkshire Bank, a New York lender with 11 branches, sued 21 banks including Bank of America Corp, Barclays Plc, and Citigroup Inc for damages over the alleged manipulation of the London Interbank Offered Rate (Libor). Berkshire
      Bloomberg  -  256 words
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  • LONDON OLYMPICS 2012
    • Article
      Lock icon China hits out at claims of drug use in swimming
      527 19 Games organisers continue to face criticism over banks of empty seats AFP AP [LONDON] China hit out at allegations of drug use yesterday before their swimmers prepared to launch a fresh assault on the Olympic pool, as Games organisers moved
      AFP; AP  -  527 words
    • Article, Illustration
      Lock icon Schooling fails to qualify for semis in 200m butterfly
      407 19  -  Blames officials for last-minute change of cap and goggles By LEE U-WEN [SINGAPORE] Joseph Schooling’s much-awaited Olympic debut in the pool yesterday turned out to be a bit of a damp squib after an unexpected last-minute change in his cap and
      407 words
    • Article, Illustration
      Lock icon Sweet victory for France in 4x100m freestyle relay
      541 19 They turn tables on US who beat them in Beijing NYT [LONDON] Based on his recent results, much was expected of the man anchoring his country’s 4x100 meter freestyle relay team. Yannick Agnel didn’t disappoint, chasing down his more ballyhooed rival Ryan
      NYT; PHOTOS: AFP  -  541 words
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      1860 19 'St WATii NOTICES SaizenREITyf SAIZEN REAL ESTATE INVESTMENT TRUST (a real estate investment trust constituted under the laws of the Republic of Singapore pursuant to a trust deed dated 27 September 2007 (as amended)) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an EXTRAORDINARY GENERAL MEETING (the “EGM”)
      1,860 words
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      483 20 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF CENTURY ZHOU PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) CO. REG. NO. *****6004D Extract of the Minutes of the Extraordinary General Meeting of CENTURY ZHOU PTE LTD signed by the Representative of the Holding Company pursuant to
      483 words
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  • AVIATION/SHIPPING
    • Article, Illustration
      Lock icon Malfunctioning GE engine on Dreamliner under investigation
      519 21 Plane spewed debris from back of engine during pre-flight testing on July 28 Bloomberg [NEW YORK] Boeing Co, General Electric Co and US officials are investigating a malfunction that spewed metal debris from a GE engine on a 787 Dreamliner and caused an
      Bloomberg; AFP  -  519 words
    • Article
      Lock icon Cosco: H1 loss to rise over 50%
      160 21 Reuters [HONG KONG] China Cosco Holdings, the flagship of the country’s biggest shipping conglomerate, warned its first-half net loss would increase to at least 4.14 billion yuan (S$827 million) due to low freight rates and high operating costs. “The company made a net
      Reuters  -  160 words
    • Article
      Lock icon Iran giving total insurance for shipping its oil
      599 21 Teheran extending cover to all tankers and destinations AFP [TEHERAN] Iran is expanding a promise to insure shipments of its oil to include both Iranian and foreign tankers, in an effort to get around EU sanctions crimping its crude exports. The insurance
      AFP  -  599 words
    • Article, Illustration
      Lock icon Ryanair Q1 earnings slide 29% as fuel costs jump
      590 21 Bloomberg [DUBLIN] Ryanair Holdings plc, Europe’s biggest discount airline, said yesterday fiscal first-quarter profit fell 29 per cent as fuel costs rose and a sluggish economy limited its ability to increase fares. Net income for the three months ended June 30
      Bloomberg  -  590 words
    • Article
      Lock icon Honeywell to boost engine thrust for business jets
      502 21 Bloomberg [DALLAS] Honeywell International Inc plans to boost the power of its largest jet engine by 20 per cent to meet demand for business aircraft with enough range to reach high-growth emerging markets like Brazil from the US. New parts able to
      Bloomberg  -  502 words
    • Article
      Lock icon TRANSPORT STOCKS
      255 21 SGX '000 Jul 30 S$ +/-Vol CH Offshore 0.40 unch 464 Chuan Hup Hldg 0.23 unch 71 Cosco Corp 0.96 0.02 4663 s$ Ezra Hldgs 0.98 0.02 3025 First Ship Lea 0.15 unch 952 Freight Links 0.07 unch 2380 Grand Banks 0.23 0.03 104 Jaya Hold Ltd 0.56
      255 words
    • Article
      Lock icon The Business Times Shipping Times
      1924 24 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 UK CONTINENT SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN
      1,924 words
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      41 21 TODAY S n V**' IBM it- it- >f fit JI- »<*" *L tr 4* ?i| tff H ipg 1 7 I n ft ■ft 2 ft Analysts: China's Analysts: China's JulyCPI mayriseby lessthan 2% To subscribe, call 6388-3838 or go to sphsubscription.com.sg
      41 words
  • Page 21 Miscellaneous
    • Miscellaneous
      Lock icon Page 21 Miscellaneous Column 1
      359 21 CRYPTIC CROSSWORD Across 1 Good rule to start with: go gently with lovemaking in cafe (6,5) 9 Content to show lethal young predator (5) 10 One’s advance to embrace sailor left anchored (9) 11 No one’s in the ’ouse? That’s disgusting (7) 12 Sample American beer with this? (5,3) 14
      359 words
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  • EDITORIAL & OPINION
    • Article
      Lock icon Growing S’pore’s trading hub beyond oil
      457 22 EDITORIAL LAND constraints plus growing concern over greenhouse gas emissions are among factors that have led Singapore to close its doors to more new oil refineries, at least for now. This is a 360-degree turn from just five years back when officials warned about
      457 words
    • Article, Illustration
      Lock icon Survival of the euro still very much in doubt
      851 22  -  THE BOTTOM LINE PAUL KRUGMAN The writer is professor of economics and international affairs at Princeton University, and winner of the Nobel Prize in economics in 2008 NYT LAST week Mario Draghi, the president of the European Central Bank, declared that
      NYT  -  851 words
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      Lock icon Way to keep Europe moving forward
      1007 22  -  Though long, bumpy and risky, ambitious muddling through is the most promising scenario By JANIS A EMMANOUILIDIS The writer is a senior policy analyst at the European Policy Centre [BRUSSELS] FOLLOWING the escalation of the euro crisis and decisions taken at the European Union’s
      AFP  -  1,007 words
    • Article, Illustration
      Lock icon Technology to make cities more liveable
      1643 23  -  Singapore is high up in the ‘smart city’ hall of fame but some things can be improved AMIT ROY CHOUDHURY Technology Editor The writer is BT’s Technology Editor THE next time you move around in Singapore, take a moment to count the number of
      ALPHONSUS CHERN/ ST PHOTO  -  1,643 words
    • Article, Illustration
      Lock icon Politicians, not central bankers, should make policies
      726 23  -  LEON HADAR Washington Correspondent THE American and the European economies are not doing so well. Surprise! Surprise! Another surprise: Politicians in the United States and the European Union (EU) are once again expecting that their central bankers would “do something” to fix the
      726 words
    • Article
      Lock icon Jury is still out on stapled securities
      373 23  -  LETTER TO THE EDITOR Mak Yuen Teen Associate professor NUS Business School IN its regulatory column dated July 17, 2012, titled “Stapled securities are subject to the same high listing standards and disclosure”, the Singapore Exchange (SGX) made a vigorous defence of stapled
      373 words
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  • Page 24 Advertisements
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      34 24 PLACE YOUR AD HERE The Business Times Shippii g Times CALL JOE WOr 1G AT 9620 1327 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? II
      34 words
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      Lock icon Page 24 Advertisements Column 2
      33 24 Experienced ship maintenance find y h ou y r services services wanted, here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES IIIL UUJINLJJ IIIVILJ Shipping Times
      33 words
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      2726 25 Transaction date: Jul 30 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company Last Sale Vol Day Last Quote ('000) High Low Buyer Seller 132 92.5 AIMSAMPIReit 127.5xd unch 903
      2,726 words
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      Lock icon SGX CATALIST
      212 26 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last 4.6 1.3 t Advanced System 1.8 unch 341 1.8 1.8 1.8 1.9 23.8 Day Last Quote Div Gr Yld Net M
      212 words
    • Article
      Lock icon UNIT TRUST & FUNDS
      8229 26 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Asset Mat Pte Ltd APS Alpha Fund Cl A!** AXA Wealth Mgt S'pore Pte Ltd APS Alpha Fund (USD)!** Aberdeen Asset Mgt Asia Limited AXA Wealth Mgt S'pore Pte Ltd Aberdeen Asset Mgt Asia Limited EM local Ccy Bond
      8,229 words
    • Article
      Lock icon GLOBALQUOTE
      201 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 $mil 46 28.5 AVJennings A29.5 +0.5 38 29.5 29.5 29 39 3.6 11.9 2.4 76.8 46 25.5 Genting HK US$ US32 +1 7570 32.5 31 32 32.5 2107
      201 words
    • Article
      Lock icon SGX ETF
      1003 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 $mil 130 114.4 ABF SG Bond ETF 120 -0.8 23 120.7 120 120 122 547.8 126.8 122.2 CIMB APAC Div 100S$D 126.8 +0.7 1 126.8 126.8 126
      1,003 words
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      653 27 Jul 30 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 8658.83 8663.30 8589.19 Sep12 8570.00 8720.00 8505.00 8600.00 *****6 *****1 Dec12 8545.00 8545.00 8545.00 8540.00 9 ***** MSCI TAIWAN INDEX FUTURES SPOT 252.61 254.30 252.52 Jul12 252.50 255.70 250.90 252.79 ***** ***** Aug12 249.30
      653 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 27 In local curr In S$ In US$ dy yr dy yr dy yr Jul 27 Index Change Change Change Change Change Change World Preliminary 878.3 1.2 5.8 1.1 1.3 1.3 5.2 EAFE Preliminary 699.9 1.5 2.6 1.5 -2.8 1.7 1.0 Europe Preliminary 1057.3 1.5 3.0
      373 words
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      Lock icon SMX MARKET UPDATE
      158 27 As on 27 July 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT AUG2012 1628.40 1616.10 1618.30 124 INDIA GOLD (E-GOLD) FUT AUG2012 539.00 536.30 537.95 1412 GOLD FUT OCT2012 1627.70 1616.90 1620.60 86 INDIA GOLD (E-GOLD) FUT OCT2012 541.10 538.15 544.60
      158 words
    • Article
      Lock icon CHICAGO BOT
      107 27 Jul 27 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Aug 12 1684.25 1655.75 1694.75 1641.00 Sep 12 1627.75 1596.50 1636.75 1581.75 Nov 12 1601.75 1567.50 1612.00 1550.75 Jan 13 1591.25 1555.00 1599.75 1538.00 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Aug 12 52.04
      107 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 27 CRUDE OIL PRODUCTS Jul 27 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 106.37 1.04 WTI (Near Mth) 90.12 0.61 Dubai (1-Mth F) 101.86 1.66 Tapis blend 107.87 1.97 Minas 108.47 1.97 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 91.28 0.17 Jet Kerosene 121.20 1.62 US$/barrel OpecOil Basket
      70 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      24 27 Jul 30 S$ Bid Offer 1-month 1.2475 1.2478 2-months 1.2474 1.2478 3-months 1.2472 1.2476 6-months 1.2460 1.2464 Source: OCBC Source: OCBC
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    • Article
      Lock icon LONDON METALS
      64 27 Jul 27 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1862.00 1846.00 3 months 1895.00 1878.00 Copper, Grade A(US$/tonne) Cash 7557.00 7464.50 3 months 7565.00 7470.00 Lead(US$/tonne) Cash 1918.75 1878.50 3 months 1924.00 1885.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.00 *****.00 3 months *****.00
      64 words
    • Article
      Lock icon LIFFE
      80 27 Jul 27 COCOA (£/tonne) Close Prev High/Low Sep 12 1603 1585 1608/1584 Dec 12 1583 1567 1585/1566 Mar 13 1558 1545 1560/1545 May 13 1557 1545 1560/1545 COFFEE(US$/tonne) Close Prev High/Low Jul 12 2229 2192 2244/2232 Sep 12 2246 2209 2260/2222 Nov 12 2200 2179 2218/2184 Jan 13 2162
      80 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1091 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 4 1 146 456 6.75 22 Conv Ratio Exer Baker Technology Ltd W*****6 1.5 1 32 10 20.33 4 Prem Best World Intl Ltd W*****5 0.6 1 30
      1,091 words
    • Article
      Lock icon INTERBANK CROSS RATES
      470 27 Jul 30 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.052 6.682 0.853 8.124 58.060 99.360 0.820 11.917 3.301 1.295 99.140 43.939 1.307 8.576 1.024 31.494 33.071 0.667 1.048 Canada 0.951 6.353
      470 words
    • Article
      Lock icon SIBOR
      58 27 Jul 30 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 1.***** 0.***** SWAP Offer rates (S$) 0.***** 3 mths 0.***** 0.***** SWAP Mid rates (S$) 12 mths 0.***** SWAP Mid rates 1 yr
      58 words
    • Article
      Lock icon PRECIOUS METALS
      135 27 Jul 30 GOLD(US$/oz) Jul 30 Jul 27 Hong Kong 1624.40 1626.00 Jul 27 Jul 27 Jul 26 London 1616.26 1613.39 1617.03 1614.61 Source: Thomson Reuters CAST BAR Jul 30 (S$) Selling Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 156 65 5gm 444 325 10gm 793
      135 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      88 27 Jul 30 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****N 01-Nov-12 0.22 6-Month BS*****Z 24-Jan-13 0.23 1-Year BY*****T 02-May-13 0.23 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.25 01-Feb-14 100.1 5-Year N*****0Z 2.375 01-Apr-17 108.94
      88 words
    • Article
      Lock icon PALM OIL
      60 27 Jul 30 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 12 2920.0 2901.0 2985.0 2910.0 517 3778 Sep 12 2979.0 2915.0 2998.0 2950.0 2444 ***** Oct 12 2963.0 2927.0 3007.0 2958.0 ***** ***** Nov 12 2968.0 2935.0
      60 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      156 27 Jul 30 Against US$ Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3068 1.3072 1.0475 1.0476 Canadian dollar 1.2420 1.2432 0.9963 0.9956 Euro 1.5324 1.5334 1.2284 1.2289 NZ dollar 1.0086 1.0102 0.8085 0.8096 Sterling pound 1.9601 1.9607
      156 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 27 As at 9am Jul 30 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.336 1.273 Can dollar 1.271 1.211 Euro 1.571 1.497 Sterling pound 2.000 1.924 NZ dollar 1.037 0.988 US dollar 1.266 1.218 Local dollars to 100 units of foreign
      121 words
    • Article
      Lock icon INTERBANK RATES
      160 27 Jul 30 $S Offer Bid 0vernight 0.03 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.10 US$ Offer Bid 7 days 0.25 0.15 1 month 0.40 0.20 2 months 0.45 0.25 3 months 0.55 0.35 6 months 0.85 0.65 9 months 1.05 0.85 12
      160 words
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  • PROPERTY
    • Article
      Lock icon Salton Sea could be site of new project
      1154 28 Government officials have approved plans for an ambitious development beside this vanishing sea AP [OASIS, United States] Signs of once grandiose dreams dot the shoreline of the Salton Sea, dried up like the dead fish that bob ashore from time to time.
      AP  -  1,154 words
    • Article, Illustration
      Lock icon AIG could leave Manhattan HQ in 2013
      340 28 Reuters [NEW YORK] Bailed-out insurer American International Group Inc (AIG) may leave its headquarters in lower Manhattan next year when its lease expires, an executive at SL Green Realty Corp, the company that owns the building said. AIG’s lease for 803,000 square feet
      Reuters; REUTERS  -  340 words
    • Article, Illustration
      Lock icon Indian shopping malls feeling the crunch
      1105 29 Nationally, retail vacancy rates are 20% and will likely rise to 25% by 2014, says Jones Lang LaSalle Reuters [MUMBAI] The biggest shopping mall here, one of the world’s most crowded cities, can feel like a pretty lonely place. Eight months ago, multi-sto-ried Phoenix
      Reuters; REUTERS  -  1,105 words
    • Article
      Lock icon Emaar reports 82% rise in H1 net profit to 1.22b dirhams
      358 29 AFP [DUBAI] Dubai-based real estate giant Emaar Properties said on Sunday it posted an 82 per cent surge in net profits in the first half of 2012 as retail and hospitality grew, costs fell, and a write-off was not
      AFP  -  358 words
    • Article
      Lock icon Law firms taking up more office space in CBD
      537 30  -  Int’l law firms opt for new Grade A buildings with bigger floor plates By MINDY TAN EVEN as the challenging global economic environment inhibits expansion generally, law firms appear to be bucking the trend and expanding. According to real estate firm
      537 words
    • Article
      Lock icon Reserve site at Prince Charles Crescent triggered
      515 30  -  By MINDY TAN A RESIDENTIAL site at Prince Charles Crescent has been triggered for sale by public tender after a developer offered a bid of at least $390 million for the plot. Based on a maximum permissible gross floor area of some 537,656.8
      515 words
    • Article, Illustration
      Lock icon Another week of brisk sales for private homes
      790 30  -  By KALPANA RASHIWALA DEVELOPERS continued to do brisk private housing sales last week. In the CBD, United Industrial Corporation (UIC) is said to have moved close to 50 units at its V on Shenton project, taking total sales in the project to
      790 words
    • Article, Illustration
      Lock icon UK, Aust set to battle it out for sports projects
      675 30 Qatar, Brazil, and Russia the potential clients being eyed Reuters [LONDON] The history of sport is studded with great Anglo-Australian clashes and that rivalry is spilling over into the business world as the two nations vie for juicy contracts from
      Reuters; AFP  -  675 words
    • Article, Illustration
      Lock icon Westfield plans £3b expansion in Britain
      286 30 AFP [SYDNEY] Australian shopping centre giant Westfield is to spend an extra £3 billion (S$5.9 billion) expanding in Britain, a report said yesterday, as it banks on London’s resilience to an economic downturn. Steven Lowy, the group’s co-chief executive, told The Australian newspaper the
      AFP; REUTERS  -  286 words
  • Page 28 Advertisements
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      Lock icon Page 28 Advertisements Column 1
      354 28 For Sale by Tender GCB Land at Holland Rise/East Sussex Lane Land area 52,992 sf; Freehold Vacant; Subdivided into 3 plots Good for 1 3 luxurious GCBs 400m to Holland V and MRT Stn Tender Closing on 23 Aug 2012 (Thurs), 2.30pm Freehold Industrial Site off Upper Paya Lebar Land
      354 words
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      Lock icon Page 28 Advertisements Column 2
      182 28 Freehold Mixed Landed Site off Upper BtTimah 70,283 sf land; 3-sty mixed landed; FH Quiet squarish island site; 4 frontages Close to PIE/BKE Beauty World MRT Potential for up to 43 landed homes Tender Closing on 15 Aug 2012 (Wed), 2.30pm leeswan.tang@credo.com.sg (CEA Regn No: R*****3 A) angela.lim@credo.com.sg (CEA Regn
      182 words
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      Lock icon Page 28 Advertisements Column 3
      65 28 High-rise redevelopment site at Amber Road D15; FH; GPR 2.8; partial seaviews 3 adjoining plots; total area 28,409 sf No STB required; Near Parkway Parade, 112 Katong Potential for 60 apts of ave.1,200 sf For Sale by Private Treaty pamela.kow@credo.com.sg (CEA Regn No: R*****8 I) choonfah@credo.com.sg (CEA Regn No: R*****1A)
      65 words
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