The Business Times, 3 September 2012

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Microfilm: NL32235
Total Pages: 30
1 30 The Business Times
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  • Title Section
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    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg Sp!l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E Monday, eptember 3, 2012 MICA (P) 074/08/2012
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  • Article
    Lock icon Privatisation tide rising in Singapore
    840 1  -  More companies delisting from SGX as valuations reach attractive levels By JAMIE LEE [SINGAPORE] The wave of delistings in Singapore this year is expected to continue, thanks to pent-up liquidity in the hands of majority owners and the general malaise in the equity markets, market
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  • MARKETS DIGEST
    • Article
      Lock icon MARKETS
      57 1 Weekly Change ST INDEX 3,025.46 -25.03 KL COMP 1,646.11 -2.11 NIKKEI 225 8,839.91 -230.85 HANG SENG 19,482.50 -397.50 SET INDEX 1,227.48 -9.71 JAKARTA COMP 4,060.33 -85.07 MANILA COMP 5,196.19 +52.84 SEOUL COMP 1,905.12 -14.7 SHENZHEN B 572.25 -10.72 MUMBAI IND 17,429.50 -353.70 DOW 13,090.84 -67.13 NASDAQ 3,066.97 -2.82 S&P
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    • Article
      Lock icon PRIME RATES
      18 1 SINGAPORE 5.38 MALAYSIA 6,55 HONG KONG 5.00 INDONESIA 0.50 TAIWAN 5.036 JAPAN 1.475 KOREA Source: Bloomberg
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    • Article
      Lock icon FOREX
      49 1 us$ s$ US$ (S$ per US$) 1.251 (US$/S$ per 1.579 1.974 EURO (US$/S$/E) 1.252 1.565 Foreign currency per US$ S$ YEN 78.50 62.80 RM 3.125 2.499 HK$ 7.756 6.202 BAHT 31.34 25.06 RUPIAH 9,562 7,646 RENMINBI 6.351 5.079 INDIAN RUPEE 55.68 44.52 A$ 0.970 0.776 NZ$ 1.249 0.999
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  • Article, Illustration
    Lock icon Bernanke flashes the big ‘bazooka’ in his bag
    752 1  -  With dismal jobs growth, he makes a tacit QE3 guarantee By ROB CURRAN AT the annual centralbanker conference in Wyoming last week, Federal Reserve chairman Ben Bernanke doubled down on his strategy of fending off recession via monetary easing. While his speech
    AP  -  752 words
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      181 1 DINING OUT Thai treats at Tamarind Hill PAGE 22 YOUNG INVESTORS' FORUM The evolution of sustainability page 14 VIEWS FROM THE TOP Staying nimble to seize opportunities pages 12-13 SME owners here continue to issue cheques or charge corporate expenses to their personal credit cards. It is time for them
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      8 1 BizIT Cloud computing: a cautionary note PAGE 28
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  • TOP STORIES
    • Article
      Lock icon S$ bond market attracts more foreign issuers
      791 2  -  They made up 40% of new issuances by volume so far this year, up from 14% By SIOW LI SEN [SINGAPORE] The Singdollar bond market is in the international limelight. As the local bond market gains depth, more foreign issuers are coming here
      791 words
    • Article, Illustration
      Lock icon Big rally unlikely despite Fed promises
      861 2  -  Lacklustre data and eurozone problems weigh on market WALL STREET INSIGHT By ROB CURRAN AFTER spring rain and summer sun, the US stock market is still stuck in the autumn mud. Promises of another round of central bank intervention from Federal Reserve chairman Ben
      AFP  -  861 words
    • Article
      Lock icon Tokyo sends surveyors to disputed isles
      389 2 China protests as team sent by city’s governor arrives AFP [TOKYO] A team of Japanese surveyors yesterday sailed to a group of disputed islands in the East China Sea that the nationalistic governor of Tokyo wants to buy, with Beijing lodging a “serious protest”
      AFP  -  389 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      682 2 Privatisation tide rising in Singapore THE wave of delistings in Singapore this year is expected to continue, thanks to pent-up liquidity in the hands of majority owners and the general malaise in the equity markets, market watchers say. The total value of delisting deals announced this year stood
      682 words
    • Article, Illustration
      Lock icon PM assures support to investments in Sichuan
      530 4  -  Private sector can do a better job at promoting projects to investors, he says Reports by CHUANG PECK MING in Chengdu ON the day before he’s due to officiate at the launch of CapitaLand’s $1 billion Raffles City Chengdu a retail, office, hotel
      PHOTOS: KWONG KAI CHUNG / LIANHE ZAOBAO  -  530 words
    • Article
      Lock icon Ties will keep pace with development
      395 4 Offshore RMB centre will be a boost for S’pore, says PM EVEN AS China moves up the development ladder it can continue to cooperate on the economic front with Singapore, says Prime Minister Lee Hsien Loong. Singapore will not be standing still, he said
      395 words
    • Article, Illustration
      Lock icon Here’s how Woh Hup plays it safe
      893 4  -  Nurturing bonds between developers, contractors is key By KENNETH FOO [SINGAPORE] A spate of recent high-profile accidents at work sites has tightened the screws on the construction sector, whose safety record has traditionally trailed other industries. Yet the emphasis on safety has never
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      277 2 The Lion’s Roar For anyone who wants to acquire a basic understanding of the Buddhism and those who want to refresh their knowledge of Buddhism, join us for these series of talks titled "Buddhism 101" 9 th Sept 2012 16 th Sept 2012 7 th Oct 2012 14 th Oct
      277 words
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      1072 4 MATS NOTICES INFINIO GROUP LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****1660M) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of INFINIO GROUP LIMITED (the “Company”) will be held at Infinio Group Limited, 2 Leng Kee Road #03-04 Thye Hong Centre
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      71 5 I V v o it tn o fi SIS -2> V. 0 10 I n <7 i o\ 0 B l V OYSTER PERPETUAL YACHT-MASTER II t THE HOURGLASS TAKASHIMAYA S.C., TEL: 6734 2420. KNIGHTSBRIDGE, TEL: 6884 8484. ION ORCHARD, TEL: 6509 9282. TANG PLAZA, TEL: 6235 7198. ORCHARD CENTRAL,
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      671 6 Navigating the Challenges of Leadership STJOBS No.1 Who should attend: Executive management level, Middle management, Managers and Team leaders who want to develop their leadership skills No.1 Recruitment site in Singapore by FULL-DAY WORKSHOPS Marketing Magazine (2011) Register at www.stjobs.sg/seminars 7 Sep, 2012 (Fri) Coaching Gen Y to Better Performance
      671 words
  • COMPANY NEWS
    • Article, Illustration
      Lock icon Hitting fairways for biz, charity
      705 6 More firms reach out to clients, help charities via golf COMPANIES are increasingly turning to golf to reach out to their customers and partners or simply to raise funds for charity. Last Friday, Citi’s senior managers and partners teed off to raise over $540,000 for
      705 words
    • Article
      Lock icon PRIME LENDING RATES
      294 6 Aug 31 BANKS Agricultural Bank Of China 5.50 Agricultural Bank Of China Bangkok Bank Public Co. Ltd 6.00 Bank of America NA 5.00 Bank of China Limited 5.50 Bank of Communications 5.50 ...6.00 Bank of New Zealand 6.25 ...5.00 Bank of China Limited Bank of Tokyo-Mitsubishi Bank
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    • Article, Illustration
      Lock icon Thinking out of the box
      2123 9  -  Teckwah is a small firm in a competitive sector that succeeds against the odds, writes MANO S ABN AN I writesMANO UniSIM COMPANY INSIGHT MANO SABNANI Mano Sabnani, a veteran writer/editor, value investor and corporate advisor, wrote this piece based on a case study he
      FILE PHOTO  -  2,123 words
    • Article
      Lock icon Buying rebounds while director selling plunges
      1631 9  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Ltd BUYING rebounded while the selling among directors plunged based on filings on the Singapore Exchange in the last week of August. Buyers outweighed sellers with 15 companies that recorded 25 purchases
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      522 7 Lenovo® recommends Windows® 7. ThinkPad 20 YEARS OF INNOVATION SHOWS THE WORLD WHAT YOU ARE MADE OF. INTRODUCING LENOVO® THINKPAD® XI CARBON, THE ULTRABOOK™ TOUGH ENOUGH TO TAKE ON ANY CHALLENGE. With innovation in its genes, ThinkPad® has always offered technology that powers world-changing ideas. As it completes 20 years,
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Trading mode to stay as QE3 is deferred
      624 8  -  STOCKS R SIVANITHY Senior Correspondent AND so it goes on, at least for another fortnight until the US Federal Reserve meets for its next Open Market Committee meeting on Sept 13. We are referring of course, to the major trading idea that
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    • Article
      Lock icon Dollar drops as Bernanke makes case for more monetary stimulus
      587 8 CURRENCIES Bloomberg [NEW YORK] The Dollar Index fell for a second week as Federal Reserve Chairman Ben S Bernanke defended his unprecedented actions and made the case for further monetary stimulus to counter unemployment of more than 8 per cent.
      Bloomberg  -  587 words
    • Article
      Lock icon Markets experience mixed trading week
      565 8 COMMODITIES AFP [LONDON] Commodities faced a mixed week as traders assessed the supply outlook and after Federal Reserve chief Ben Bernanke dented hopes of stimulus measures any time soon in the world’s biggest economy. Mr Bernanke, speaking at the Fed’s annual global Jackson Hole gathering
      AFP  -  565 words
    • Article
      Lock icon BROKERS’ RECOMMENDATIONS
      1608 8 in *l Iff n u~— iir* i tm it,\ nttxt UiirmMIM i'«ti arm in MMl .•MUiuiMIllldlWInll MM >ip f Ol A HOC i* 1 04 Mi amii.i it > iu/ fi II Hf n AJ II i3 tMlU Ann) IjimqiinMitt —li»n 11» f, *1 f* •if* If ill.
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    • Article, Illustration
      Lock icon STRAITS TIMES INDEX
      4 8 WEEKLY
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      66 8 Aug 31 VALUE CLOSE BT OB/OS -127.00 -35.00 BT CADI -*****.00 +49.00 BT 10-day MA -*****.00 -13.00 FTSE ST Mid Cap 711.90 +1.40 FTSE ST Small Cap 465.59 +1.81 FTSE ST All Share 734.28 +2.98 FTSE ST China Top 199.15 +0.26 FTSE ST China 218.17 +0.12 FTSE
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    • Article
      Lock icon MOST ACTIVE STOCKS
      63 8 VOLUME M Devt 348,616,000 Far East HTrust 230,874,000 Sakari 209,181,000 Goldtron 205,818,000 GSH Corp 202,245,000 Elektromotive 187,814,000 Noble Grp 179,044,000 Golden Agri 178,149,000 Genting SP 145,164,000 LionGold 108,942,000 VALUE($) Sakari 396,586,785 IS MS India 100US$ 276,697,283 SingTel 253,777,545 DBS Grp 244,979,939 UOB 230,027,969 Keppel Corp 226,629,854 Far
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    • Article
      Lock icon RISES
      111 8 BY CENTS CLOSE UP DBXT USDIGInfl 5US$ ***** 275.0 0.8 DBXT MSUSA 10US$ 3414 182.5 4.5 DBXT AUD Bonds 5AU$ ***** 158.5 0.7 DBXT iBoxxSing 5SG$ ***** 80.0 0.6 Sakari.ES.1208 189.5 40.5 27.2 Sakari 187 38.0 25.5 OCBC Bk 5.1%NCPS 100 ***** 32.0 0.3 OCBC Bk 4.5%NCPS 100 *****
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    • Article
      Lock icon FALLS
      125 8 BY CENTS CLOSE DOWN DBXT Nifty 10US$ 9689 -328.8 -2.6 DBXT MSJAP 10US$ 3454 -145.0 -3.2 JMH 5382 -128.8 -1.9 GLD 10US$ ***** -122.5 -0.6 DBXT FTChina25 10US$ 2500 -118.8 -3.7 DBXT E50 10US$ 3569 -98.8 -2.2 JSH 3324 -95.0 -2.2 Jardine C&C 4629 -91.0 -1.9 IS DJ US
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      Lock icon FTSE ST CATALIST INDEX
      5 8 WEEKLY
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  • SINGAPORE NEWS
    • Article
      Lock icon Directors ’ obligation of disclosure
      657 10 Directors obligation of disclosure ASK QUESTION: I am a director of a Singapore Exchange (SGX)-listed company. I have been following the Airocean saga with interest in particular, the ongoing discussions of what the case means in terms of the duties of directors. My understanding from reading the newspapers and recent
      657 words
    • Article, Illustration
      Lock icon How to raise $200 million, as told by Leslie Loh
      944 10  -  By CHEN HUIFEN JUST six months before Leslie Loh sold his banking software company System Access for $120 million, the market had valued his firm at $40 million. Yet the founder of System Access told BT that nothing changed dramatically
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    • Article
      Lock icon DIVIDENDS ANNOUNCED
      1359 10 Payment Ex Books Pay Ann (cts) date close date date ABR Holdings be 30.000 17-Aug 22-Aug 07-Sep 14-Aug Ace Achieve Info bo 0.300 09-Nov 14-Nov 28-Nov 30-Aug AIMS AMP Cap REIT ag 2.500 30-Jul 01-Aug 18-Sep 19-Jul Amtek Engrg ak 2.200 01-Nov 05-Nov 23-Nov 27-Aug ARA Asset Mgtm
      1,359 words
  • Page 10 Advertisements
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      1241 10 B6ATS3 NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices MYCUBE.COM PTE LIMITED (IN CREDITORS’ VOLUNTARY LIQUIDATION) RC No. *****3656M Expressions of Interest Yit Chee Wah of FTI Consulting (Singapore) Pte Ltd. was appointed as Liquidator of MyCube.com Pte Limited (the “Company") on 10 August 2012. The Company is a software developer,
      1,241 words
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      Lock icon Page 10 Advertisements Column 2
      227 10 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF HIGHLANDER INTERNATIONAL TRADING ASIA PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO.REG. NO.*****0680W NOTICE IS HEREBY GIVEN, pursuant to Section 308 of the Companies Act, Chapter 50, the Final Meeting of the Member of the abovenamed Company
      227 words
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      102 10 HAVE a pressing question about a corporate law-related issue that your company is facing? Lawyers from Stamford Law will provide their expert advice and answers to your queries on a weekly basis. All you need to do is send us an e-mail with your query at btnews@sph.com.sg and include particulars
      102 words
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      3525 11 Mandatory Unconditional Cash Offer by CIMB BANK BERHAD (*****-P) Singapore Branch (Incorporated in Malaysia) for and on behalf of POH BENG SWEE to acquire all the issued and paid-up ordinary shares in the capital of ZAGRO ASIA LIMITED (Company Registration No.: *****6784D) (Incorporated in the Republic of Singapore) other than
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  • VIEWS FROM THE TOP
    • Article, Illustration
      Lock icon Staying nimble to seize opportunities
      3544 12 THIS WEEK’S TOPIC: What do you see as the key adaptations Singapore will need to make in the years ahead, and what emerging opportunities do you believe it should exploit? Ang Swee Meng Allen Managing Director Aldon Technologies Services Pte Ltd THE era of rapid
      FILE PHOTO  -  3,544 words
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      222 13 1 Our Mission The World, Our Passion To Serve. I Established in 2002. Alliance 21 seeks to do logistics differently. Our strategic partnership of networks brings the world to your door step. No job is just another job. We excel in our job and improve with each task we undertake.
      222 words
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • Article
      Lock icon The evolution of sustainability
      1309 14  -  Sustainability is no longer an optional extra for companies trying to prove their CSR credentials. If it isn’t in your corporate DNA, you won’t last, says NIGEL ROBERTS NIGEL ROBERTS UNILEVER is esteemed by many as an example of a company which integrated sustainability into its
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    • Article, Illustration
      Lock icon From virtual investing to the real thing
      1375 14  -  Nakul Asthana gained confidence with an online, virtual account before moving on to a real trading account, says teh shi ning STARTING YOUNG TEH SHI NING NAKUL Asthana is as passionate about football as he is about finance, but the Arsenal fan knows
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  • Page 14 Advertisements
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      187 14 If you’re between the ages of 17 and 30, and think you’ve got an interesting investing or entrepreneurship story to share, e-mail btyif@sph.com.sg with “Starting Young in the subject heading Get started now Be a young investor DO you aspire to be a successful young investor? Are you keen on
      187 words
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon China firms move to ensure Indonesian metals’ supplies
      678 15 They plan US$8.6b investment in iron, aluminium smelters in that country Reuters [JAKARTA] Chinese firms plan to invest US$8.6 billion on aluminium and iron smelter projects in Indonesia, the industry minister said on Thursday, in a bid to guarantee supplies of metals
      Reuters  -  678 words
    • Article
      Lock icon Indonesia to fight EU biodiesel dumping complaint
      451 15 Reuters [JAKARTA] Indonesia is ready to fight a complaint by European biodiesel producers of dumping in the European market if necessary, but will first ask EU regulators to clarify their allegations, trade ministry officials said last Friday. European producers have lodged a formal
      Reuters  -  451 words
    • Article, Illustration
      Lock icon Bumi Resources selling coal miner stake to pare down debt
      629 15 Reuters [JAKARTA] PT Bumi Resources, Asia’s biggest thermal coal exporter, is aiming to sell its 50 per cent stake in smaller coal miner PT Fajar Bumi Sakti for around US$200 million to a local investor as it looks to pay
      Reuters; BLOOMBERG  -  629 words
    • Article, Illustration
      Lock icon Petronas close to sealing Progress buy
      360 15 99.9% of Progress shareholders approve takeover [KUALA LUMPUR] Petroliam Nasional Bhd (Petronas) inched closer to its C$5.5 billion (S$7 billion) purchase of Canada’s Progress Energy Resources Corp, after receiving overwhelming support from the latter’s shareholders for the proposed takeover. Malaysia’s Business Times reported last
      REUTERS  -  360 words
    • Article
      Lock icon Singapore’s Successful LNG Strategy
      750 15  -  By Dr. Anthony Barker, General Manager of BG Singapore Gas Marketing By Dr. Anthony Barker, Taking its first delivery of gas in 2013, the Singapore Liquefied Natural Gas Corporation (SLNG) terminal on Jurong Island will soon begin commercial operations, providing Singaporeans with a new supply of
      750 words
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  • GREATER CHINA/ INDIA
    • Article
      Lock icon Hu ally moved to new post in apparent demotion
      481 16 China watchers see intrigue in Ling Jihua’s latest appointment NYT [SHANGHAI] Ling Jihua, a senior Chinese official and a close ally of President Hu Jintao, was named on Saturday to a new post in a move that some Communist Party watchers
      NYT  -  481 words
    • Article, Illustration
      Lock icon India’s infrastructure firms sell assets to finance projects
      723 16 Credit caps, high borrowing cost limit ability to raise funds Bloomberg [NEW DELHI] India’s biggest builders of roads, bridges and metro networks are resorting to asset sales to fund projects after exhausting bank credit limits amid the highest borrowing costs among Asia’s
      Bloomberg; BLOOMBERG  -  723 words
    • Article, Illustration
      Lock icon Starbucks finally decides to set up shop in India
      531 16 AFP [MUMBAI] Starbucks is betting on big returns as it seeks to lure an expanding legion of coffee lovers in India primarily a tea-drinking nation where lifestyle changes have spawned a booming market for cafes. After eyeing the Indian market for
      AFP; REUTERS  -  531 words
    • Article
      Lock icon Indian panel urges ending capital gains tax
      239 16 Bloomberg [NEW DELHI] A panel set up by India’s prime minister recommended abolishing taxes on gains from share transfers and deferring a proposal to crack down on tax avoidance that had spooked foreign investors. The implementation of the General AntiAvoidance Rules (GAAR) should
      Bloomberg  -  239 words
    • Article, Illustration
      Lock icon Absent teachers play havoc with Indian education
      640 16 State primary schools hardest hit, with kids badly shortchanged AFP [BAGHPAT, India] On any given day in a state primary school in India, up to one in four teachers is missing. The cost for a country that sees its young population as its
      AFP  -  640 words
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  • ECONOMY WATCH
    • Article
      Lock icon Few policy questions answered at meet
      616 17 No closure for central bankers after annual Jackson Hole gathering ends Reuters [JACKSON HOLE, Wyoming] Central bankers who travelled to the wilds of Wyoming to figure out if more policy action was needed to curb stubbornly high unemployment heard powerful arguments on both sides
      Reuters  -  616 words
    • Article
      Lock icon New US jobs are low paying: report
      528 17 Disappearance of mid-wage, mid-skill jobs is long term NYT [NEW YORK] While a majority of jobs lost during the downturn were in the middle range of wages, a majority of those added during the recovery have been low paying, according to a new
      NYT  -  528 words
    • Article
      Lock icon Vietnam’s message of equality being challenged by growing gap
      485 17 NYT [HANOI] She wore a pink outfit and matching high heels as she toured the dusty construction site. Soon after To Linh Huong’s visit in April, photos that captured the moment went viral on the Internet, but not because of Ms
      NYT  -  485 words
    • Article, Illustration
      Lock icon Japan importing more of its products manufactured abroad
      792 17 Stronger yen, ageing labour, better skills overseas key factors Bloom berg [TOKYO] Japan Inc has a new export market: Japan. For the first time, companies including Nissan Motor Co are making products abroad to ship home as a stronger yen, ageing workforce
      Bloomberg; AP  -  792 words
  • Page 17 Advertisements
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      1102 17 ssJ wafs notices Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices In the Matter of The Companies Act, Cap 50 And In the Matter of (1) Speed Service Equipment Pte Ltd Company No. *****5388Z (2) Siam Land Holding (1990) Pte Ltd Company No. *****2171K (3) Cranetech International Pte Ltd Company No. *****0530N
      1,102 words
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  • WORLD
    • Article, Illustration
      Lock icon Button wins as pile-up takes out four drivers
      706 18 BELGIUM GRAND PRIX AP [SPA, Belgium] Jenson Button coasted to his second victory of the season at the crash-marred Belgian Grand Prix yesterday, with Formula One championship leader Fernando Alonso and Lewis Hamilton forced out after a spectacular pile-up at the start.
      AP; REUTERS  -  706 words
    • Article
      Lock icon More banks admit possible US payouts
      759 18 New rules, push by regulators drive banks to be blunt about Iran dealings Reu ters [LONDON] For years, the United States struggled to get foreign bankers to comply with its effort to throttle Iran’s economy but a couple of billion dollars in fines, not
      Reuters  -  759 words
    • Article
      Lock icon Iran, China drop plans for LNG plant
      242 18 Bloomberg [TEHERAN] Iran and China have suspended a contract to build a liquefied natural gas (LNG) plant in the Persian Gulf port of Asaluyeh “until further notice”, the Mehr news agency reported, without saying where it obtained the information. The governments decided to
      Bloomberg  -  242 words
    • Article, Illustration
      Lock icon No fresh terms to be agreed if Spain needs more aid: PM
      616 18 Reuters [MADRID] Spain will consider seeking extra aid from Europe on top of a 100 billion euro (S$157.4 billion) rescue of its financial sector but does not see any need for new conditions, Prime Minister Mariano Rajoy said
      Reuters; REUTERS  -  616 words
    • Article
      Lock icon E-cigarettes can cause damage to lungs too: study
      346 18 Bloomberg [LONDON] Electronic cigarettes cause damage to the lungs, according to a study that challenges earlier research suggesting the devices to quit smoking are harmless. E-cigarettes, electronic tubes that simulate the effect of smoking by producing nicotine vapor, caused an immediate increase
      Bloomberg  -  346 words
    • Article
      Lock icon Several top American PE firms subpoenaed over tax strategy
      746 19 NY A-G probing whether they sliced millions of dollars from their tax bills NYT [NEW YORK] The New York attorney-general is investigating whether some of the United States’ biggest private equity (PE) firms have abused a tax strategy in order to
      NYT  -  746 words
    • Article
      Lock icon Sharp offers to sell stake to Foxconn for less
      358 19 Bloomberg [TOKYO] Sharp Corp, the Japanese television maker that agreed in March to sell a stake to Taiwan-based Foxconn Technology Group, offered to sell the holding for less, the Nikkei newspaper reported. The shares that Foxconn and its Hon Hai Precision
      Bloomberg  -  358 words
    • Article, Illustration
      Lock icon BID, CASH AND CARRY
      63 19 AN original 1966 Routemaster bus (right) on display outside Christie’s auction house in London. The bus is to be auctioned in ‘The London Sale’ today with an estimated price of £20,000 (S$39,580) to £30,000. Introduced by London Transport in 1956, the front-engined Routemasters became among London's
      AP  -  63 words
    • Article
      Lock icon Asustek may end up buying Acer as tablets batter PCs
      645 19 Analysts see logic in the combination but the two companies deny such move Bloomberg [TAIPEI] After competition from the iPad battered Acer Inc and left it trading at an 85 per cent discount to sales, Asustek Computer Inc can become
      Bloomberg  -  645 words
    • Article
      Lock icon Whale probe: JPMorgan faces huge problems
      666 19 SEC investigating whether the firm tried to hide losses ANALYSIS Reuters [NEW YORK] The fallout from a nearly US$6 billion trading loss at JPMorgan Chase Co looks like it will haunt the big US bank and its high-profile chief executive, Jamie Dimon, for months
      Reuters  -  666 words
    • Article
      Lock icon Leveraged banks increase global contagion risks: paper
      463 19 Bloomberg [SAN FRANCISCO] An ex-cessively-leveraged banking system increases the risk that a crisis in one country will spread to another, according to a paper presented at a Federal Reserve conference in Jackson Hole, Wyoming over the weekend. “A top priority should be reducing
      Bloomberg  -  463 words
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      23 18 HOT IPO Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email noticesd>sph.com.sg. BSAIH NOTICES
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  • COUNTRY FOCUS: BHUTAN
    • Article, Illustration
      Lock icon The little airline that could
      1091 20  -  Bhutan’s Drukair has just started direct flights from the kingdom to Singapore and sees exciting things ahead, reports EVE YEO reportsEVE EVE YEO Reporters Bhavan Jaipragas and Eve Yeo and photojournalist Goh Chay Teng were among 14 final-year undergraduate journalism students who took part in
      GOH CHAY TENG  -  1,091 words
    • Article, Illustration
      Lock icon Seeking the middle way to boost tourism in Bhutan
      1089 20  -  By BHAVAN JAIPRAGAS PERCHED high up on a pine-clad valley close to Bhutan’s most sacred monastery, the ultra-ex-clusive 29-room Uma aro resort is perhaps the most eloquent icon for the kingdom’s unique brand of tourism, which welcomes the super-rich with open
      GOH CHAY TENG  -  1,089 words
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  • AVIATION/SHIPPING
    • Article, Illustration
      Lock icon Abu Dhabi launches new port, may compete with Dubai
      625 21 Khalifa Port will gradually take over all container traffic from Mina Zayed Reuters [ABU DHABI] Abu Dhabi launched operations at a multi-billion-dollar port facility last Saturday, seeking to diversify its oil-based economy with a project that could intensify competition for the
      Reuters; AFP  -  625 words
    • Article
      Lock icon Engine snags hit Airbus A400M’s delivery to France
      484 21 Bloomberg [LONDON] Airbus Military said it will miss a contractual deadline to deliver the first A400M military transport plane to the French air force by the end of March. Civil and military certification of the aircraft will be delayed until the first
      Bloomberg  -  484 words
    • Article
      Lock icon Vale sells 10 ore carriers to Polaris to raise cash
      486 21 Bloomberg [RIO DE JANEIRO] Vale SA, the world’s largest iron ore producer, agreed to sell 10 vessels for US$600 million and lease them back from South Korea’s Polaris Shipping Co as it seeks to raise cash amid declining commodity prices.
      Bloomberg  -  486 words
    • Article
      Lock icon US east coast ports face possible Oct 1 shutdown
      724 21 LATWP [WASHINGTON] Ports up and down the Eastern and Gulf of Mexico coasts of the United States face a possible shutdown on Oct 1 as a result of a deadlock in negotiations between port employers and the main union, the International
      LATWP  -  724 words
    • Article
      Lock icon The Business Times Shipping Times
      3436 26 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN Camden/New Orleans/Tampico *Loads
      3,436 words
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  • Page 21 Miscellaneous
    • Miscellaneous
      Lock icon Page 21 Miscellaneous Column 1
      325 21 CRYPTIC CROSSWORD Across 1 Enjoy dressing for dinner? (6) 4 Charged across river, doomed (8) 9 Early risers? They need the dough (6) 10 Cancel monies owing for car damaged beyond repair (5-3) 11 Tax from character initially doing under ten years (5,4) 13 Plant extract stocked in stores indefinitely
      325 words
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  • DINING OUT
    • Article, Illustration
      Lock icon Thai fine dining in style
      741 22  -  By Debbie Yong NEW RESTAURANT Tamarind Hill 30 Labrador Villa Road Tel: 6270 1868 IT is the 1900s again, and the governor has invited you over for a dinner party. Your driver sails past a set of Victorian wroughtiron gates atop Labrador Nature Reserve and
      741 words
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      558 22 THINK BIG ENTREPRENEUR CONVENTION 2012 Business Solutions Updated Whether you are starting up or already running a business, here's your opportunity to glean expert advice from experienced business specialists on how to fund your ideas, improve efficiency and communicate your brand effectively. Plus hear what industry leaders think how businesses
      558 words
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      17 22 HOI Ml &tw SINGAPORE'S Horresr hits HEAR TH6vJAMTer>S HOTTEST HITS ON HOT FM 91.3 m i I
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      19 22 V 3* 1 y; Brand IMew Sexy Look Samsung mtel0: i blog.omys9/ birthday I 0 0 0 m. < j
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      3244 23 Week ended: Aug 31 52-wks Tel Last Vol Week Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Week Last Quote Div GrYld 132 92.5 AIMSAMPIReit 130.5 +0.5 2461 132 128.5 130.5 131 6.4 12.5
      3,244 words
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      Lock icon SGX CATALIST
      247 24 52-wks Tel Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last 4.6 1.3 t Advanced System 1.8 unch 2738 1.9 1.8 1.8 1.9 23.8 Vol Week Last Quote 3iv Gr Yld Net
      247 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      112 24 Stock name Close Change Stock name Close Change Stock name Close Change CapMallsAsia 1.655 +0.020 CapitaLand 3.010 CapitaMall 1.980 +0.040 CityDev 11.520 ComfortDelGro 1.675 +0.035 DBS Grp 14.450 -0.020 F&N 8.210 -0.050 GLP 2.370 +0.010 Genting SP 1.365 +0.020 Golden Agri 0.710 +0.005 HK Land 6.100
      112 words
    • Article
      Lock icon STOCKS ASIA
      2199 24 Transaction date: Aug 31 HONG KONG Vol HK$ +/-'000 Aeon Credit 6.30 unch 0 Aeon Stores 21.90 unch 0 Angang Steel 3.79 -0.16 8282 Anhui Conch 19.36 -0.04 7962 Anhuiexpresswa 3.26 unch 352 Asia Satellite 24.50 0.50 31 Asm Pacific 86.40 -1.85 562 Bank Of E Asia 28.25
      2,199 words
    • Article
      Lock icon GLOBALQUOTE
      216 24 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 46 25.5 AVJennings A29 -10.5 5 30 29 28.5 33.5 3.6 12.1 2.3 75.5 41.5 25.5 Genting HK US$ US33.5 -2.5 ***** 35 32.5 33 33.5 2205.8
      216 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 24 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 8 2 0 0 0 7 8 2 Manufacturing 62 92 36 12 17 7 74 109 43 Commerce 25 33 19 10 2 5 35 35 24 Tpt/Stor/Comms 19 20 5
      186 words
    • Article
      Lock icon SGX ETF
      1060 24 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 114.4 ABF SG Bond ETF 120 -3 10 123 120 120 122 547.8 126.8 122.2 CIMB APAC Div 100S$D 126.8 124.4 125.3 103 95.8 CIMB
      1,060 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 24 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 71,829 71,829 349,812 349,812 Manufacturing 939,345 547,937 1,487,282 916,453 6,212 922,665 Commerce 867,000 25,361 892,361 614,709 2,470 617,179 Tpt/Stor/Comms 442,485 79,473 521,958 631,545 23,643 655,188 Finance 174,102 5,363 179,465 775,091 2,207 777,298 Construction 284,874 25,309
      123 words
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      26 24 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      635 25 Aug 31 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 8891.75 8933.99 8839.91 Sep12 8980.00 8990.00 8815.00 8825.00 ***** *****5 Dec12 8915.00 8915.00 8760.00 8760.00 442 ***** MSCI TAIWAN INDEX FUTURES SPOT 260.39 262.24 260.39 Sep12 261.40 262.80 259.90 261.40 ***** *****3 Oct12 261.50
      635 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 25 In local curr In S$ In US$ dy yr dy yr dy yr Aug 31 Index Change Change Change Change Change Change World Preliminary 899.1 0.4 8.4 0.2 4.2 0.7 8.3 EAFE Preliminary 714.6 0.0 4.8 0.0 0.3 0.6 4.2 Europe Preliminary 1084.1 0.5 5.6
      373 words
    • Article
      Lock icon CHICAGO BOT
      107 25 Aug 31 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Sep 12 1764.50 1770.25 1771.00 1753.00 Nov 12 1756.50 1763.50 1763.25 1745.50 Jan 13 1751.00 1757.50 1757.00 1739.00 Mar 13 1684.25 1680.25 1686.25 1663.00 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Sep 12 56.42
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    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 25 CRUDE OIL PRODUCTS Aug 30 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 112.87 0.36 WTI (Near Mth) 94.75 -0.61 Dubai (1-Mth F) 110.31 1.33 Tapis blend 116.28 1.21 Minas 112.78 1.21 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 106.89 2.17 Jet Kerosene 133.12 1.23 US$/barrel OpecOil Basket
      70 words
    • Article, Illustration
      Lock icon SMX MARKET UPDATE
      111 25 rM,:» iVAu&rfftf* WW4MA,uir>ua I'lramin ravTMn IH7II lUV mm VUi VMIWM mtUlli* MflAl t«isav>M c* t«?Kl l‘*i) HI iwmA rain lECOUtin'T GOtOri/i o— /It? iruMU VXTx less-ro aif!«rNrv IAJHoW)fV1 l-MU i mi tJHW iflKI BA\r MH7U ■•OHCfH rur UtEWI. W>' tm •\n/ INIIF* )R0M<»R6<M«0) IOX for IKOMOKUMWUJ ID.H
      111 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      24 25 Aug 31 S$ Bid Offer 1-month 1.2500 1.2510 2-months 1.2500 1.2510 3-months 1.2499 1.2510 6-months 1.2492 1.2503 Source: OCBC Source: OCBC
      24 words
    • Article
      Lock icon LONDON METALS
      64 25 Aug 31 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1883.75 1856.25 3 months 1902.00 1877.00 Copper, Grade A(US$/tonne) Cash 7606.25 7556.75 3 months 7615.00 7567.50 Lead(US$/tonne) Cash 1964.50 1939.50 3 months 1965.00 1944.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.50 *****.50 3 months *****.00
      64 words
    • Article
      Lock icon LIFFE
      80 25 Aug 31 COCOA (£/tonne) Close Prev High/Low Sep 12 1686 1687 1703/1683 Dec 12 1697 1705 1720/1694 Mar 13 1688 1696 1710/1684 May 13 1694 1701 1714/1691 COFFEE(US$/tonne) Close Prev High/Low Sep 12 2038 2024 2044/2016 Nov 12 2077 2064 2083/2055 Jan 13 2092 2077 2096/2069 Mar 13 2102
      80 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      477 25 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 1 146 500 6.25 21 (■000) Conv Ratio Baker Technology Ltd W*****6 1.1 0.1 ***** 1 32 30.00 3 Price Prem Disc Gearing Expiry Mths Left Asia-Pacific
      477 words
    • Article
      Lock icon INTERBANK CROSS RATES
      470 25 Aug 31 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.023 6.548 0.824 7.996 57.403 98.585 0.809 11.692 3.221 1.288 97.399 43.377 1.289 8.715 0.989 30.871 32.310 0.653 1.031 Canada 0.978 6.403
      470 words
    • Article
      Lock icon SIBOR
      62 25 Aug 31 (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$) 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths SWAP Mid rates (S$) 12 mths 0.***** SWAP
      62 words
    • Article
      Lock icon PRECIOUS METALS
      138 25 Aug 31 GOLD(US$/oz) Aug 30 Aug 31 Hong Kong 1667.60 1655.20 Aug 31 Aug 31 Aug 30 London 1673.90 1654.16 1674.90 1654.93 Source: Thomson Reuters CAST BAR Aug 31 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 160 67 5gm 455 333 10gm
      138 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      98 25 Aug 31 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****F 29-Nov-12 0.25 0.00 0 6-Month BS*****H 21-Feb-13 0.26 0.00 0.00 1-Year BY*****T 02-May-13 0.25 0.00 0.00 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.25 01-Feb-14
      98 words
    • Article
      Lock icon PALM OIL
      57 25 Aug 30 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 12 2916.0 2915.0 2935.0 2900.0 850 3872 Oct 12 3028.0 2968.0 3028.0 2952.0 2568 ***** Nov 12 3015.0 3000.0 3033.0 3000.0 ***** ***** Dec 12 3036.0 3016.0
      57 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 25 Aug 31 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2884 1.2900 1.0307 1.0312 Canadian dollar 1.2600 1.2616 1.0085 1.0080 Euro 1.5643 1.5659 1.2514 1.2517 NZ dollar 1.0003 1.0016 0.8002 0.8006 Sterling pound 1.9730 1.9751 1.5784 1.5788
      154 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 25 As at 9am Aug 31 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.319 1.257 Can dollar 1.291 1.230 Euro 1.603 1.527 Sterling pound 2.014 1.937 NZ dollar 1.029 0.980 US dollar 1.271 1.223 Local dollars to 100 units of foreign
      121 words
    • Article
      Lock icon INTERBANK RATES
      154 25 Aug 31 $S Offer Bid 0vernight 0.01 Par 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.10 US$ 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
      154 words
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      Lock icon Page 26 Advertisements Column 1
      58 26 p rvic s maintenanc res wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALI IOE WO IMG AT 9620 1 327 THE BUSINESS TIMES Shipping Times Shippers looking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG
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      Lock icon Page 26 Advertisements Column 2
      18 26 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times Shipping times
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      Lock icon Page 27 Advertisements Column 1
      117 27 TO ADVERTISE IN .The Business Times IIIL L/UJINLJJ IIIVILJ Shipping times CALL JOE WONG FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WO IMG AT 9620 1327 Announce Your Corporate Development! Come publicise your Project Completion, Ship Christenings
      117 words
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  • BizIT
    • Article, Illustration
      Lock icon Cloud solves some issues but creates new ones
      1038 28  -  Factors such as security controls and risk transparency are not fully addressed, reports CLEMENT TEO reportsCLEMENT reportsCLEMENT TEO WITH cloud computing attracting a lot of media attention, a firm known for its “hype cycle” for emerging technologies has sounded a cautionary note
      1,038 words
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      Lock icon Apple trying to curb choice: Samsung
      526 28 AFP AP [SEOUL] Samsung on Saturday accused Apple of resorting to litigation in an effort to limit consumer choice after the iPhone maker said it was seeking to stop the sale of Galaxy S III smartphones in the United States. Fresh from its US$1
      AFP; AP  -  526 words
    • Article
      Lock icon Comex draws even bigger crowd this year
      364 28  -  By VICTORIA HO [SINGAPORE] It seems Comex has broken its own record again this year. Organiser Exhibits Inc (which is owned by Singapore Press Holdings) said the show crossed the 835,000 visitor mark this year. About two hours before the show closed, it
      364 words
    • Article
      Lock icon Autoscan makes cargo handling error-free
      751 28  -  By CLEMENT TEO [SINGAPORE] Singapore’s port ranked third globally in 2011 is connected to over 600 ports in over 100 countries. The port handles 20 per cent of global cargo containers, and is responsible for the transit of nearly 50 per cent of the global
      751 words
    • Article, Illustration
      Lock icon Cobol’s grip on the enterprise still firm
      817 29  -  Language is very actively used by banks, govts around the world. By VICTORIA HO AS one of the oldest programming languages, just the mention of Cobol tends to conjure images of aged servers and behemoth machines crunching code. But according to a Cobol
      FILE PHOTO  -  817 words
    • Article, Illustration
      Lock icon Cloud transforming IT consumption
      642 29  -  By CLEMENT TEO [SINGAPORE] Cloud computing has transformed the way IT is consumed in organisations. With more agile, cheaper alternatives around, employees could easily order a bunch of virtual servers with their credit cards and a few clicks of a mouse. “(The IT department) needs to
      642 words
    • <what’s up>
      • Article
        Lock icon Sony adds seven new earphones
        28 29 SONY has launched a new range of “extra bass” headphones. The line will consist of four new over-ear headphones and three in-ear models.
        28 words
      • Article
        Lock icon New Nakamichi headphone
        26 29 NAKAMICHI has launched its NHP850 headphone, targeted at audio enthusiasts and professional DJs. It is priced at $139 and is available at Tangs.
        26 words
      • Article
        Lock icon Samsung compact camera
        43 29  -  Compiled by VICTORIA HO SAMSUNG has launched the WB100, a compact camera, for $369. It comes with a built-in lens capable of 26x optical zoom, and shoots at 16 megapixels. It also handles 3D photo-taking and has a panorama mode.
        43 words
    • Article
      Lock icon BYOD checklist: Who is responsible for what?
      827 29  -  &lt;you say&gt; By WAYNE DS WONG The writer is managing consultant, Kroll Ontrack IT happens so fast one moment of inattention on a business trip, and someone makes off with your laptop or smartphone. Inconvenient to say the least, but even more so
      827 words
    • Article
      Lock icon AIA launches point-of-sales insurance app for iPad
      229 29 [SINGAPORE] AIA Singapore last week announced the launch of a mobile point-of-sales (iPoS) system running on an iPad which allows customers to sign up for new insurance plans without paperwork. This is expected to enable faster approvals for its customers. According to the
      229 words
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      105 29 THE SOUND VISION SPECIALIST AV ONE 2012 COLLECTIONS Zikmu designed by Philippe Starck Now: $2,688 Black,White, Red Available Custom AV Room Feature Wall Design AV ONE TOTAL AUDIO VISUALISM' A Sony, Infocus, Panasonic Full HD 3D Projector Made in Japan. From $2,699 $35,000 PMC, Lindemann Hifi/Cinema System Made in Germany/UK.
      105 words
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      110 30 Sarasin From Every Angle we Construct a Sustainable Vision for Your Wealth As a leading Swiss private bank and pioneer in the field of sustainable investment, Bank Sarasin is known for its innovative approach. It’s part of our heritage to consider private banking from every angle to construct a wealth
      110 words