The Business Times, 27 February 2010

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Total Pages: 48
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    18 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg FEBRUARY 27 28, 2010 S$1.00 MICA(P) 124/08/2009 sp!l A SINGAPORE PRESS HOLDINGS PUBLICATION
    18 words
  • Article
    Lock icon DC rates take striking hike in scenic Sentosa
    949 1  -  RWS effect reflected in higher land values on island while interesting trend emerges in CBD By Kalpana Rashiwala kalpana@sph.com.sg Singapore SENTOSA has seen a big jump in development charge (DC) rates, reflecting higher land values on the island following this month’s opening
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  • Article, Illustration
    Lock icon Goggle-eyed at Google Singapore
    1786 1  -  With 4 weeks’ paternity leave, office massages and bagel day, it redefines workplace happiness By Joyce Hooi joyceh@sph.com.sg Singapore IT did not bode well for Google’s trendy upstart image at first, finding out that its Singapore office is located in the steel cuboid jungle of Shenton
    PHOTOS BY YEN MENG JIIN  -  1,786 words
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      179 1 the business times www.businesstimes.com.sg FEBRUARY 27 28, 2010 S$1.00 MICA (P) 124/08/2009 EARNINGS S’pore firms turn in strong Q4 performance 3 WEALTH Beauty of private equity 30-31 the raffles conversation SUNNY VERGHESE, FOUNDER AND CEO OF OLAM 8-9 strong quarter Combined Q4 profit surges 175% SINGAPORE-listed companies that posted fourth-quarter
      179 words
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  • TOP STORIES
    • Article
      Lock icon Slower inventory drawdown kicks up Q4 growth to 5.9%
      287 2 latest us data| Reuters Bloomberg Washington THE US economy grew faster than initially thought in the fourth quarter as businesses drew down inventories at a much slower pace and boosted investment, a government report showed yesterday. In its second reading of
      Reuters; Bloomberg  -  287 words
    • Article
      Lock icon MARKETS
      136 2 STI 2,750.86 (+1.71) STI FUTURES 2,747.00 (-2.00) SIMSCI 330.68 (+0.59) SIMSCI FUTURES 330.70 (+0.70) STOCKS Friday Change KL COMP Closed NIKKEI 225 10,126.03 +24.07 HANG SENG 20,608.70 +209.13 SET 721.37 +4.27 JAKARTA 2,549.03 -30.38 MANILA 3,043.75 +12.49 KOSPI 1,594.58 +7.07 SHENZHEN B 602.82 +3.31 MUMBAI IND 16,429.55 +175.35 11
      136 words
    • Article
      Lock icon SGX firms turn in robust Q4 numbers
      513 3  -  Combined profit of 226 companies for the quarter is up 175% over the year-ago period By Oh Boon Ping huwenbin@sph.com.sg Singapore SINGAPORE-LISTED companies turned in a strong fourth-quarter performance, with some reporting sharply higher profits than a year back. By 5 pm yesterday,
      513 words
    • Article
      Lock icon Singapore banks beat market expectations
      665 3  -  By Conrad Tan conradt@sph.com.sg Singapore FOURTH-quarter earnings at the Singaporebankshaveexceededanalysts’ expectations, boosted by a mix of trading gains and a steep drop in charges for bad loans as economic conditions improved. All three banks signalled improved earnings prospects for 2010 and a renewed push for
      665 words
    • Article
      Lock icon Tide turns for superyacht traffic
      576 5  -  There were 59 superyacht visits in 2009, beating the previous year’s 55 despite a flat first half By Vincent Wee vincewee@sph.com.sg Singapore IF the movement patterns of superyacht owners indicate discretionary income among the well-heeled, economic conditions turned in the third quarter of last year
      576 words
    • Article, Illustration
      Lock icon 46b baht of Thaksin’s assets to be seized
      548 6  -  9-judge court rules he abused power for personal gain By Lee U-Wen leeuwen@sph.com.sg Singapore THAILAND’S Supreme Court will confiscate 46 billion baht (S$1.96 billion) of the frozenassetsbelongingtothe country’sfugitive former prime minister Thaksin Shinawatra, after ruling that he had illegally concealed his ownership
      REUTERS  -  548 words
    • Article
      Lock icon Kofi Annan to Asia: Help Africa succeed for mutual benefit
      803 6  -  By George Joseph georgej@sph.com.sg Singapore ASIA’S growing economic and political power can help Africa overcome many of the obstacles that have hindered its development for decades, former United Nations secretary-general Kofi Annan said in a public lecture here yesterday. He
      803 words
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      134 2 CONTENTS NEWS Top Stories 2-6 Week in Review 7 LIVING Travel/Dining L2-8 Dining L9 Home& Garden L10-11 Beauty L12-13 Gadgets L14 Health L15 Sport L16 Golf L17 Raffles Conversation 8-9 Companies 10-13 Singapore 14-17 From The Desk Of 18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-33 Househunt 34
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      10 3 ??UOB Q4 profit up on lower impairment charges, Page 10
      10 words
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      43 3 SINGAPORE -SWEEPTOTAL PRIZES $6,040,000 $2,200,000 1st PRIZE SUPER SWEEP SNOWBALLED TO $1,300,000 0312° J. $3 d GST "HA 3 MARCH 2010 (WEDNESDAY) P Always play with care. responsibly] Do not bet illegally. Towards Community Purpose and Benefit RCB Reg No: *****0202G SINGAPORE E
      43 words
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      30 5 ILLOFT Design by 65 Mohamed Sultan Road, Singapore *****3 Tel: 6734 3425, 6235 3221 Fax: 6235 3762 Email: singapore_sales@lemerciers.com www.lemerciers.com Opening Hours: Mon-Sat 10.30am 7.00pm, Sun Public Holidays 10.30am 7.00pm
      30 words
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK | Feb 22-26, 2010
      • Article
        Lock icon Sunny economy spurs budding enterprises
        40 7 AS the economy improves, the rate of growth in the number of companies created goes up relative to the previous year, according to a study by BT and the Accounting and Corporate Regulatory Authority (Acra).
        40 words
      • Article
        Lock icon Don't sell your homes for a quick buck: PM Lee
        52 7 TAKE good care of your home because it is an important investment for the future, said Prime Minister Lee Hsien Loong at a Chinese New Year dinner on Sunday. His comment follows recent government moves to prevent a speculative bubble
        52 words
      • Article
        Lock icon Singapore invests on road to the future
        53 7 FRESH out of recession, Singapore is putting its money where its mouth is and committing $5.5 billion over the next five years to the issue of the day the big goal of achieving 2 to 3 per cent annual productivity growth over the
        53 words
      • Article
        Lock icon Anti-speculation moves dent property counters
        40 7 SINGAPORE property counters took a hit on Monday, after the government’slatest moves toquell speculation. CapitaLand lost 14 cents to $3.76, City Developments fell 52 cents to $10.30, and Keppel Land slipped seven cents to $3.30.
        40 words
      • Article
        Lock icon Foreign worker levies raised to give businesses a nudge
        37 7 SINGAPORE is raising its foreign worker levies in a bid to get businesses here to restructure and upgrade their operations and rely less on lower skilled foreign labour.
        37 words
      • Article
        Lock icon SembMarine posts record profit
        51 7 SEMBCORP Marine has sailed through last year’s downturn to post a record net profit of $700.1 million, a 62.8 per cent rise over FY2008’s $429.9 million, as higher revenue recognition from completed rigs rolled in. More than two-fifths of the net earnings came from the fourth
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      • Article
        Lock icon Construction jittery as levy hike is spelt out
        46 7 THE construction sector will bear the brunt of the foreign worker levy hikes. The least impact will be felt in the marine industry, which will see only slight increases in levies as the sector has high productivity levels.
        46 words
      • Article
        Lock icon HK acts again to prick its property bubble
        54 7 HONG Kong has raised the stamp duty on luxury property sales and warned that more such measures could follow. The transaction tax on properties worth more than HK$20 million (S$3.63 million) will be increased to 4.25 per cent on April 1, from
        54 words
      • Article
        Lock icon Game on as MBS gears for April 27 opening
        49 7 LAS Vegas Sands made the surprise announcement on Wednesday that its Marina Bay Sands (MBS) casino will get rolling in about two months, leaving market watchers speculating on the timing of the news so far in advance of the opening.
        49 words
      • Article
        Lock icon Horizon Towers lawsuits headed for trial
        44 7 THE High Court will hear the claims brought by three sets of minority owners of Horizon Towers against two former sales committee members unless the defendants succeed in appealing against the court’s dismissal of their strike out action.
        44 words
      • Article, Illustration
        Lock icon PM LEE
        24 7 He urged Singaporeans to take good care of their home as it is an important investment for the future ST FILE PHOTO
        ST FILE PHOTO  -  24 words
      • Article
        Lock icon Mixed response to shipping tax breaks
        44 7 THE various tax incentives for the maritime sector have been met with a mixed response from industry players; however, the consensus is that it was a positive signal to encourage the development of Singapore as a maritime hub.
        44 words
      • Article
        Lock icon Developers put home launches on fast track
        56 7 DEVELOPERS will be bringing forward their property launches over the next few months to satisfy strong demand from homebuyers, said RealEstate Developers’ Association of Singapore president Simon Cheong on Thursday. But he warned that many developers are now fac- ing depleting landbanks following
        56 words
      • Article
        Lock icon Eco-park to be a hotbed of ideas, jobs, business
        54 7 SINGAPORE’S first eco-business park is expected to create 20,000 jobs and draw some $2.5 billion worth of investments in buildings by its 2030 completion. CleanTech Park will be an “epi-centre” for research, innovation and commercialisation of clean technology from both the
        54 words
      • Article
        Lock icon Gold loses more lustre as US dollar shines
        59 7 GOLD prices continued to head south on Thursday, with some analysts predicting more selling pressure in the coming weeks. The yellow metal retreated after the US dollar rebounded against the euro, while firmer oil prices offered little help as investors turned cautious
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    • NEXT WEEK Mar 1-5,2010
      • Article
        Lock icon US DATA
        44 7 March 1 Jan personal income Jan construction spending Feb ISM index March 3 Feb ISM services Fed’s March Beige Book March 4 Initial claims Q4 productivity (revised) Jan factory orders Jan pending home sales March 5 Feb non-farm payrolls Jan consumer credit
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      • Article
        Lock icon EVENTS
        42 7 March 2 RBA board meeting and announcement of interest rate decision March 3 Federal Reserve to release March Beige Book survey of US economic conditions March 4 BOE announces interest rate decision ECB Governing Council meeting, followed by interest rate announcement
        42 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 1
      309 7 CRYPTIC CROSSWORD Across 1 Fear landing accident may be the big finish (5,6) 9 Expert seen about new skin problem (4) 10 Surveillance needs excellent eyesight (11) 11 Ill-used, sought damages (4) 14 Anger with a disease (7) 16 Loud and biased form of amusement (7) 17 Jet offering return
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    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 2
      12 7 SATURDAY with Ludwig ‘She never lost a poker game when she’s botoxed...’
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon All business
      2421 8/9  -  Sunny Verghese is relentlessly practical, and that is what has driven Olam’s success. By Chew Xiang Chew Xiang xchew@sph.com.sg THERE’S no better way to describe Sunny Verghese, Mr Olam, than business-like. Not in the turgid, manage-ment-speak spewing way he says “going forward” just twice in the entire, 100-minute
      BLOOMBERG  -  2,421 words
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      70 8/9 The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels Resorts. Raffles Hotels Resorts epitomizes enchanting experiences, embodying global sophistication and residential charm. Each is exclusive, intimate with a distinctive sense of place, imbued with heartfelt service that is intuitive and unobtrusive “like a gentle breeze”.
      70 words
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  • COMPANIES
    • Article, Illustration
      Lock icon UOB Q4 profit up 57% as impairment charges fall
      649 10  -  CEO says bank will be more aggressive in targeting growth this year By Siow Li Sen lisen@sph.com.sg Singapore UNITED Overseas Bank (UOB) yesterday said that fourth-quar-ter 2009 net profit rose 57.2 per cent from a year ago to $522 million largely
      ARTHUR LEE  -  649 words
    • Article
      Lock icon Midas full year profit rises 15% to $37.5m
      368 10  -  By Lynette Khoo lynkhoo@sph.com.sg Singapore MIDAS Holdings reported a 14.9 per cent rise in net profit yesterday to $37.5 million for the financial year ended Dec 31, 2009. The increase was mainly driven by strong sales of aluminium alloy extrusion products used
      368 words
    • Article, Illustration
      Lock icon Raffles Medical posts 20% profit rise
      340 10  -  By Nisha Ramchandani nishar@sph.com.sg Singapore PRIVATE healthcare provider Raffles Medical Group posted a 20.1 per cent increase in net profit to $37.88 million for the full year ended Dec 31, 2009, helped by a higher patient load and better operating efficiencies. Revenue grew 8.9
      FILE PHOTO  -  340 words
    • Article
      Lock icon February market capitalisation flat at $664 billion
      636 11  -  Market focused on debts of some EU nations By Jamie Lee leejamie@sph.com.sg Singapore THE Singapore market in February posted flat growth in value over the month, worn down by concerns over the mounting debt of Greece and its European Union (EU) neighbours. The
      636 words
    • Article
      Lock icon Cerebos eyes 10-20% growth
      133 11 Reuters Singapore SINGAPORE-listed health supplements company Cerebos Pacific said yesterday that it is aiming for a 10-20 per cent revenue growth over the next three years as it steps up its presence in China, Indonesia and Vietnam. Cerebos’ chief executive Eiji Koike said he expected the
      Reuters  -  133 words
    • Article
      Lock icon ThaiBev posts 2.2% rise in 2009 profit
      373 11  -  By Nisha Ramchandani nishar@sph.com,sg Singapore THAI Beverage Public, Thailand’s largest brewer and distiller, posted a 2.2 per cent increase in net profit to 10.57 billion baht (S$449 million) for the full year ended Dec 31, 2009. Revenue rose 2.4 per cent to 107.97
      373 words
    • Article
      Lock icon UOB-Kay Hian’s Q4 net profit up 85.2%
      321 11  -  By Michelle Quah michquah@sph.com.sg Singapore BROKING house UOB-Kay Hian has turned in a strong performance for the year ended Dec 31, 2009 with commission income rising 20.4 per cent and net profit 5.2 per cent. For the quarter ended Dec 31, 2009, the
      321 words
    • Article
      Lock icon Venture back on profit growth path in Q4
      345 12  -  Its profit surges to $16.8m; full-year earnings fal 14.4% to $143.4m By Winston Chai winstonc@sph.com.sg Singapore A SHARP drop in one-time charges helped put Venture Corporation back on the profit growth path in the fourth quarter, after three straight quarters of bot-tom-line
      345 words
    • Article
      Lock icon YHI’s Q4 profit climbs 85% to $7.3m
      451 12  -  By Samuel Ee samuelee@sph.com.sg Singapore YHI International sped to an 85.1 per cent rise in net profit to $7.3 million for the fourth quarter ended Dec 31, 2009, thanks to higher revenue, lower operating expenses and currency exchange gains. Q4 sales turnover had
      451 words
    • Article
      Lock icon Delong back in the black to tune of 668.8m yuan
      432 12  -  By Lynette Khoo lynkhoo@sph.com.sg Singapore THINGS have finally turned around for China-based steelmaker Delong Holdings, which reported a return to the black yesterday with a full-year net profit of 668.8 million yuan (S$137.8 million) following a successful debt restructuring. Excluding
      432 words
    • Article
      Lock icon Baker Tech Q4 net profit up 23%; dividend yield 7.5%
      393 12  -  By Ven Sreenivasan ven@sph.com.sg Singapore DESPITE sluggish revenue and new orders, oil gas equipment and services specialist Baker Technology has shown strong earnings growth and declared a dividend of more than 7 per cent yield. Fourth-quarter earnings grew 23 per
      393 words
    • Article, Illustration
      Lock icon Genting, UOB in focus in directionless week
      574 13  -  stocks| R Sivanithy sivan@sph.com.sg Senior correspondent PERHAPS the only thing of interest this week from a macro standpoint was an apparent decoupling of the local market from Wall Street. To be more accurate, expectations of how the US market might perform later each
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    • Business briefing
      • Article
        Lock icon FerroChina to be delisted on March 11
        38 13 FERROCHINA Limited said it will be delisted on March 11, as it is now insolvent and cannot make a reasonable exit offer to the shareholders, as directed by the Singapore Exchange.
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      • Article
        Lock icon Kim Eng reports 24.5% jump in earnings
        47 13 BROKING firm Kim Eng Holdings reported net profits attributable to equi-ty-holders of $89.3 million for 2009, up 24.5 per cent. The total income was $419.5 million, up 12.9 per cent. It announced a final dividend of eight cents per share.
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    • Article
      Lock icon At a glance
      376 13 At a glance Q4 ended Dec 2009 Full year ended Dec 2009 TURNOVER (S$m) NET PROFIT (S$m) TURNOVER (S$m) NET PROFIT (S$m) CURRENT PREVIOUS CHNG CURRENT PREVIOUS CHNG CURRENT PREVIOUS CHNG CURRENT PREVIOUS CHNG 1 UOB 1902.00 1937.00 -1.8 5405.00 5250.00 3.0 522.00 332.00 57.2 1242.00 1348.00
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    • Article, Illustration
      Lock icon TOP 20 ACTIVES
      110 13 Top percentage movers at www.businesstimes.com.sg VOL CLOSE GentingSP 235,336 89.5 -1.5 -1.6 Z-ObeeHldgs 65,317 39 4.5 13.0 GoldenAgri 55,922 53 -1.0 -1.9 NobleGrp 34,363 317 7.0 2.3 SinHeng 26,028 25.5 0.5 2.0 Cogent 22,622 21 -1.5 -6.7 StraitsAsia 21,807 202 -5.0 -2.4 SingTel 20,529 305 4.0 1.3
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    • Article
      Lock icon STI STOCKS
      108 13 Stock name Close Change Stock name Close Change CapitaLand 3.780 +0.040 CapitaMall 1.770 +0.020 CityDev 10.280 -0.060 ComfortDelGro 1.550 Cosco Corp 1.220 -0.010 DBS Grp 14.000 F&N 4.260 +0.080 Genting SP 0.895 -0.015 Golden Agri 0.530 -0.010 HK Land 4.600 +0.080 JMH 27.340 -0.940 JSH 16.500 +0.100 Noble
      108 words
    • Article
      Lock icon TOP GAINERS
      63 13 BY CENTS CLOSE UP GLD 10US$ ***** 277.4 1.8 DBXT Nifty 10US$ ***** 264.7 1.8 DBXT DJE50 10US$ 3891 91.5 1.7 STXPO 100 1490 78.0 5.5 Asia Pac Brew 1400 70.0 5.3 Lyxor India Nifty 10 1520 47.0 3.2 DBXT MSEurope 10US$ 3962 43.6 0.8 Great Eastern 1408
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    • Article
      Lock icon TOP LOSERS
      58 13 BY CENTS CLOSEDOWN JMH 2734 -132.3 -3.3 DBXT MSKorea 10US$ 4399 -101.4 -1.6 Jardine C&C 2428 -72.0 -2.9 DBXT S&P Short 10US$ 5416 -40.8 -0.5 DBXT MSTaiwan 10US$ 1499 -31.0 -1.4 UOB.ES.1003 1850 -26.0 -1.4 DBXT FTVietnam 10US$ 4262 -21.1 -0.4 DBS.ES.1002 1400 -20.0 -1.4 Lyxor Europe 10
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  • SINGAPORE
    • Article
      Lock icon Jan factory output grows 39.4%
      476 14  -  Production surge in the electronics and biomedical cluster lead expansion By Oh Boon Ping huwenbin@sph.com.sg SINGAPORE’S factory output expanded 39.4 per cent year-on-year last month, thanks to a production surge in the electronics and biomedical cluster, the latest figures show. Excluding the biomedical output, the
      476 words
    • Article, Illustration
      Lock icon Record passenger numbers at Changi in Jan
      430 14  -  By Ven Sreenivasan ven@sph.com.sg A RECORD 3.38 million passengers passed through Changi Airport last month a 10 per cent rise from January last year and almost 9 per cent more than the pre-crisis level of January 2008. Revealing the latest number at the
      BLOOMBERG  -  430 words
    • Article
      Lock icon Business Receipts Index dips 0.2% in Q4
      318 14  -  B y Teh Shi Ning tshining@sph.com.sg WHILE recent manufacturing output data surged above expectations, the latest figures on Singapore’s services sector have merely held steady. Business receipts from companies in services excluding wholesale and retail trade, hotels and restaurants slipped 0.2 per cent
      318 words
    • Article
      Lock icon Visitor arrivals post strong 17.6% gain
      416 15  -  Highest-ever figure of 908,000 for January points to recovery in travel demand By Nisha Ramchandani nishar@sph.com.sg IN one of the strongest showings in the last year or so, visitor arrivals to Singapore jumped 17.6 per cent year-on-year to 908,000 for the month of January.
      416 words
    • Article
      Lock icon Commissioning work begins on Shell’s new cracker
      374 15  -  By Ronnie Lim ronnie@sph.com.sg SHELL has started commissioning work, including testing and running-in of its new ethylene cracker complex the centrepiece of its new US$3 billion Shell Eastern Petrochemicals Complex (SEPC) in Singapore which will be fully operational by next month. Announcing this
      374 words
    • Article, Illustration
      Lock icon HELP centres set up in Subordinate Courts
      450 15  -  By Chew Xiang xchew@sph.com.sg THE Subordinate Courts have set up two help centres for the increasing number of people who can’t or don’t want to engage lawyers, Chief Justice Chan Sek Keong said yesterday. Two Helping to Empower Litigants-in-Person (HELP) Centres were opened
      RAJ NADARAJAN/THE STRAITS TIMES  -  450 words
    • Article
      Lock icon Budget hits & misses get airing at PwC talk
      465 16  - Budget hits misses get airing at PwC talk Govt’s move to grow Singapore’s population to 6m is fundamentally sound: panellist By Teh Shi Ning tshining@sph.com.sg THE political and social sensitivities of immigration policy, and Singapore’s economic need to turn away some foreigners while drawing others, stirred discussion at PricewaterhouseCoopers’ 2010
      465 words
    • Article
      Lock icon Group M stamps its Power of One Day across the Asia-Pacific
      292 16  -  Events include coastal clean-up, walkathon, and blood donation By Zeinab Yusuf Saiwalla zeinabs@sph.com.sg ON a mission to do their part for charity, Group M employees from across the Asia-Pacific stopped working for clients yesterday and undertook various activities to
      292 words
    • Article, Illustration
      Lock icon The sound of sweet charity
      281 16 “PARTNERSHIP is the key to our business,” said Ajay Kanwal, regional head of consumer banking, Singapore and South-east Asia, Standard Chartered. Mr Kanwal lived up to his motto on Thursday evening at the Shangri-La Hotel. He took the stage alongwith Ray Ferguson, Stanchart’sregional CEO, Singapore
      ARTHUR LEE  -  281 words
    • Article, Illustration
      Lock icon Productivity, innovation and incentives
      1382 17 Members of BT’s CEO Club give their reactions BUDGET REACTIONS How will you ensure, and measure, higher productivity in your organisation and your industry? Which of the various incentives for encouraging innovation will your organisation benefit most from? Lee Chong Chin Executive Director Jian Huang Group
      1,382 words
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  • Page 15 Advertisements
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      Lock icon Page 15 Advertisements Column 1
      73 15 KnightFrank.com.sg MEDicai m D-JfflB 17 Wl! m ORCHARD MEDICAL SPECIALISTS CENTRE (Phase 2 For Sale and Lease) •Prime location next to Mt Elizabeth Hospital •Ready for immediate occupation Sizes range from 581 sf to 2,056 sf No restriction to foreign ownership Water supply points floor traps available VISIT SHOW UNIT
      73 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon A silver lining for cloud computing
      883 18 While cloud computing is not simple, it is possible, and is already in use at some of the most forward-thinking companies around the world FROM THE DESK OF Keith Budge Vice-President General Manager Greenplum Asia-Pacific and Japan CLOUDcomputingcontinues to evolve as one of the
      883 words
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  • WORLD
    • Article, Illustration
      Lock icon UK 4th quarter growth revised upwards to 0.3%
      446 19 But govt says economic support to continue Reuters London BRITAIN’S economy grew faster than expected in the last three months of last year, but the 18-month recession from which it emerged proved to have been even deeper than previously thought. The figures
      Reuters  -  446 words
    • Article
      Lock icon Swiss banks shun untaxed money
      514 19 Berne seeks bilateral fix to ‘black money’ issue with individual countries Reuters Berne SWITZERLAND said that it would no longer accept untaxed money into its banks as it tries to ease pressure on its US$2 trillion offshore banking industry from key trading partners seeking to
      Reuters  -  514 words
    • Article
      Lock icon AIG posts US$8.9b Q4 loss, may seek more help
      363 19 Bloomberg New York AMERICAN International Group, the insurer rescued by the US, posted a fourth-quarter loss on charges tied to paying down its bailout debt and boosting commercial insurance reserves. AIG warned that it may need additional US government support, even
      Bloomberg  -  363 words
    • Article, Illustration
      Lock icon Financial crisis CEOs return
      579 20 It’s happening in a low-key way everywhere, from Hollywood to hedge funds Reuters London FROM moviemaking to architecture, the shamed and banished chief executives of the 2008 credit crisis have opted for some unusual career paths, either by choice or necessity. Whether turning to Hollywood (like
      Reuters; AP  -  579 words
    • Article
      Lock icon Deflation data seen pressuring BOJ
      508 20  -  By Anthony Rowley btworld@sph.com.sg Tokyo DEFLATION showed no sign of easing its grip on Japan last month despite a sharper-than-expected rise in retail sales and in industrial output during the month. Data released yesterday showed that declines in the so-called “core, core” consumer price index
      508 words
    • Article
      Lock icon Buoyed by growth, India to cut deficit
      732 21  -  Indirect taxes to contribute much of revenue increase in Budget 2010 By Malminderjit Singh msingh@sph.com.sg Singapore INDIA’S economy has weathered the global recession well and may grow at a 10 per cent pace in the “not-too-distantfuture”,butthe countryalsoneeds toreview public spending and improve its
      732 words
    • Article
      Lock icon SEC studying credit default swaps’ destabilising effects
      403 22 Move appears related to Goldman Sachs’ dealings with Greece Reuters AFP Washington UNITED States securities regulators said on Thursday that they are examining the potential abuses and destabilising effects of credit default swaps, a financial instrument that can be used to speculate on
      Reuters; AFP  -  403 words
    • Article, Illustration
      Lock icon BNP pans concerns over India as Greece of Asia
      355 22 Bloomberg Singapore INDIA’Smonetarypolicyflexibility may help the country trim its budget deficit and deflect comparisons as the Greece of Asia, BNP Paribas said. “Similarities between some of the headline numbers in Greece and India have sparked investor concern that if contagion spreads
      Bloomberg; AFP  -  355 words
    • Article
      Lock icon Blackstone’s yuan fund reeling in big China investors: sources
      389 22 Reuters Hong Kong US buyout giant Blackstone has nailed down three commitments so far to its landmark yuan-denominated fund for China,with thecountry’snational pension fund expected to be a major investor. Blackstone Group LP announced plans last August to launch a 5
      Reuters  -  389 words
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      83 19 S£ NS/: Get holiday updates in SPH Travel Supplements (ST/ZB) Natas Travel 2010 Spring Sensations Holiday Fiesta Natas Summer Journeys (New) Value Vacations Natas Holidays 2010 Autumn Relights Natas Winter Journeys (New) Travel Malaysia 2010 Holiday Escapades Tentative dates, subject to change Feb 25/26 Mar 23/25 Apr 13/15 Apr 30/May
      83 words
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      1156 21 SATS NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg BRITISH AND MALAYAN TRUSTEES LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****0010M) MANDATORY CONDITIONAL CASH OFFER BY BMT INVESTMENT HOLDINGS PTE. LTD. FOR BRITISH AND MALAYAN TRUSTEES LIMITED 1. INTRODUCTION The Board of Directors ("Board") of British and Malayan Trustees
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  • SGX
    • Article
      Lock icon Transaction date: Feb 26
      9041 23 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 18 3 3148 8Telecom 17 unch 215 17 17 16.5 17 1.7 10.6 5.5 81.4 10 2.5 5834 A-Sonic 7 unch
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      Lock icon SGX CATALIST
      1767 26 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 10 5 1181 s AA Grp 5.5 4.5 5.5 5.3 25 12 8538 t APStrategic 15.5 13 14.5 91.5 4 0.5 1501 t
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 7 5 0 0 0 6 7 5 Manufacturing 61 41 83 2 6 14 63 47 97 Commerce 22 19 23 5 2 3 27 21 26 Tpt/Stor/Comms 15 13 12
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      Lock icon BT SHARE INFORMATION SERVICE
      825 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Feb 22 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Sup Fastening Tech 25-Feb-10 Loi Peng Soon Sell 5000 na ***** 15.11 ***** 13.55 Sup Fastening Tech
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      119 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 25,348 25,348 98,562 98,562 Manufacturing 225,591 11,711 237,302 165,130 746 165,875 Commerce 116,544 8,121 124,665 176,672 1,323 177,994 Tpt/Stor/Comms 88,436 1,702 90,138 189,538 234 189,772 Finance 23,715 23,715 239,262 239,262 Construction 25,858 18,182 44,040 7,923
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  • MARKETS
    • Article, Illustration
      Lock icon STOCK MARKETS
      84 27 YTD change: -5.07% 52-week high: 2,947.08 on Jan 11,2010 52-week low: 1,455.47 on March 10,2009 YTD change: -5.78% 52-week high: 23,099.50 on Nov 18,2009 52-week low: 11,344.50 on March 9,2009 Source: Bloomberg YTD change: -6.87% 52-week high: 3,478.01 on Aug 4,2009 52-week low: 2,037.02 on March 3,2009 YTD
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      365 27 In local curr In S$ In US$ dy yr dy yr dy yr Feb 25 Index Change Change Change Change Change Change World Index Preliminary 805.9 -1.3 -3.2 -1.4 -4.0 -1.5 -4.5 ‡EAFE Preliminary 751.9 -1.2 -4.2 -1.4 -6.3 -1.5 -6.8 Europe Preliminary 1071.6 -1.4
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 27 Feb 26 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2495 1.2514 0.8875 0.8880 Canadian dollar 1.3283 1.3299 0.9435 0.9438 Euro 1.9094 1.9114 1.3562 1.3564 NZ dollar 0.9754 0.9770 0.6928 0.6933 Sterling pound 2.1475 2.1502 1.5253 1.5258
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    • Article
      Lock icon LIFFE
      77 27 Feb 25 COCOA (£/tonne) Close Prev High/Low Mar 10 2174 2184 2184/2154 May 10 2188 2196 2198/2167 Jul 10 2173 2180 2180/2152 Sep 10 2156 2165 2163/2136 COFFEE (US$/tonne) Close Pev High/Low Mar 10 1216 1233 1230/1209 May 10 1259 1271 1270/1251 Jul 10 1294 1307 1305/1290 SUGAR (US
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    • Article
      Lock icon CHICAGO BOT
      105 27 Feb 25 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Mar 10 941.50 955.50 957.00 934.75 May 10 950.00 963.00 964.50 942.50 Jul 10 957.50 970.50 971.50 950.50 Aug 10 954.00 966.00 965.75 947.75 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Mar 10 38.53 39.05 39.28
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    • Article
      Lock icon PALM OIL
      64 27 Feb 25 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Mar 10 2618 2595 2619 2590 653 2434 Apr 10 2610 2590 2620 2589 3720 ***** May 10 2605 2595 2615 2580 9577 ***** Jun 10 2599 2579
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    • Article
      Lock icon OIL
      75 27 Feb 25 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 75.55 -2.59 WTI (Near Mth) 78.22 -1.69 Dubai (1-Mth F) 76.69 1.21 Tapis blend 81.95 1.60 Minas 79.85 1.10 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 78.88 0.88 Jet Kerosene 85.65 0.70 US$/barrel Opec Oil Basket Price
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    • Article
      Lock icon LONDON METALS
      73 27 Feb 25 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2052.75 2102.50 3 months 2086.00 2137.00 Copper, Grade A (US$/tonne) Cash 6969.25 7122.50 3 months 6999.00 7152.50 Lead (US$/tonne) Cash 2125.75 2191.00 3 months 2150.00 2215.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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      Lock icon METALS
      65 27 Feb 26 GOLD (US$/oz) Feb 25 Feb 26 Hong Kong 1092.*****0.50 Feb 24 Feb 25 London 1098.*****1.30 1099.*****2.10 Source: Bloomberg SILVER Selling Buying Passbook 1 oz 22.82 22.59 Source: Bloomberg PLATINUM Lon (US$/oz) Feb 25 Close Previous PM Fix 1514.*****7.00 AM Fix 1510.*****8.00 Source: Thomson Reuters PLATINUM NYMEX (US$/oz)
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon Restless computing
      1037 28 / 29  -  New tablet computing devices may be representative of a shift in the usage patterns of home computers. By Carlos Fernandes By Carlos Fernandes The author is the CEO of RecordTV, which provides remote-storage digital video recording services IN June last year, I predicted that Apple would join the
      AFP  -  1,037 words
    • Article
      Lock icon The yuan needs an offshore market
      855 28 / 29  -  By Richard Olsen btnews@sph.com.sg The writer is CEO of Olsen Ltd, which develops quantitative statistical trading models for trading currencies. He is also Chairman of OANDA, an online trading platform. The article is sourced from VoxEU.org, an online portal that features the views of
      855 words
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon The beauty of private equity
        1098 30 / 31  -  A survey at end-2009 found that investors have not lost confidence in the long term benefits of PE; they were simply not investing in ’09. By Genevieve Cua By Genevieve Cua PRIVATE equity almost suffered a body blow in 2008, but Dominique Senequier, CEO of
        STOCK.XCHNG; Source: AXA Private Equity  -  1,098 words
      • BROKERS' TAKE
        • Article
          Lock icon Sembcorp Industries
          255 30 / 31 Outperform CIMB-GK Feb 26 Close: $3.77 Results were above expectations: Q409 net profit of $259 million (+157 per cent y-o-y) was double our estimate and consensus. FY09 net profit of $683 million (+35 per cent y-o-y) was 23 per cent above our full-year estimate, 25 per cent above
          255 words
        • Article
          Lock icon Golden Agri Resources
          286 30 / 31 Buy DMG Partners Securities Feb 26 Close: $0.53 Slightly disappointing: Golden Agri’s FY09 core net profit was 13 per cent below our full year forecast and 6.9 per cent below consensus expectation. We had expected Q4 numbers to be stronger on a q-o-q basis due to seasonal
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        • Article
          Lock icon Allgreen Properties
          247 30 / 31  -  Compiled by Lynette Khoo Buy Citi Feb 26 Close: $1.12 Allgreen reported a net profit of $162.7 million for FY09 (+141 per cent y-o-y), 8 per cent ahead of the consensus forecast of $151 million but in line with our estimate of $160 million. There was a fair
          247 words
      • Article, Illustration
        Lock icon Debunking the Great Bubble of China
        1568 32  -  There is no sign of over-investment, its reliance on exports is overstated and banks are in reasonable shape wealth insights Shane Oliver AMP Capital Investors The writer is head of Investment Strategy and chief economist at AMP Capital Investors MAKINGtherightcallonChi-na is now critically important
        Source: Thomson Financial, AMP Capital Investors  -  1,568 words
      • Article, Illustration
        Lock icon Betting on industry leaders of the world
        1047 33  -  In the globalised world today, it makes sense to diversify one’s portfolio by putting a portion of one’s money into companies with a global reach show me the money Teh Hooi Ling hooiling@sph.com.sg Senior correspondent The writer is a CFA charterholder FORthefirsttimeinre-cent history,
        AFP  -  1,047 words
      • Article
        Lock icon David vs Goliath
        193 33 How global industry champions and Singapore's leading corporations compare Price/trailing 12 month EPS (x) Dividend yield Price-to-book ratio (x) Altman's Z-score Growth of dividend per share* Growth of free cash flow per basic share Fully diluted EPS growth* Return on equity Return on assets Annualised total shareholder
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    • WEALTH REAL ESTATES
      • Article
        Lock icon Househunt PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN JAN 22 AND FEB 2,2010
        885 34 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 9 NON-LANDED 8 Mt Sophia Apt 29/01/2010 103 2497 2430 973 8 Mt Sophia Apt 27/01/2010 103 958
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      • Article
        Lock icon Another Yishun industrial site up for tender
        337 35  -  Knight Frank sees interest in plot near ITE East (Yishun) due to recent strong take-up in Woodlands By Emilyn Yap emilyny@sph.com.sg Singapore FOR the second time in a week, the government will be putting an industrial site in Yishun up for tender. According
        337 words
      • Article, Illustration
        Lock icon 2 firms invest 600m yuan in Tianjin Eco-City
        318 35  -  Pan Asian Water Solutions, PV World first to invest By Zeinab Yusuf Saiwalla zeinabs@sph.com.sg Singapore TWO Singapore companies have signed letters of intent with the Sino-Singapore Tianjin Eco-City Investment and Development Company (SSTEC) to launch eco-manufacturing operations involving a total investment of
        318 words
      • Article
        Lock icon Downtown Taipei land sold at record prices
        295 35 Bloomberg Taipei TAIWAN’S government has sold land in downtown Taipei at record prices, indicating demand for premium housing units amid improving ties with China, the island’s biggest property broker said. A 401 square metre site fetched NT$731 million (S$32 million) at an auction
        Bloomberg  -  295 words
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  • Page 34 Advertisements
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      Lock icon Page 34 Advertisements Column 1
      70 34 m BPS M 1 SR S 5, £5 as Artist Featuring the Quality Homes Collection Urban Suites. Inspired By Luxury, Designed For Prestige. For enquiries, please contact Lawrence Chia at 9617 2884 or LChia@savills.com.sg For general enquiries, kindly call 6836 3338 or search with us at residential.savills.com.sg Impression -l Savills
      70 words
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  • Page 36 Advertisements
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      Lock icon Page 36 Advertisements Column 1
      50 36 AUDEMARS PIGUET Le maitre de I'horlogerie depuis 1875 i I A La 'o K V? 20 Vm 10 F 15 A 'in 30 ■iv-V-'flL 'V m M •k fi. \v" Avim H I, A 1 ■V •V if! ROYAL OAK CHRONOGRAPH WITH DATE For enquiries, Tel (65) 6238 6678 www.audemarspiguet.com
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  • Page 1 Advertisements
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      48 1 LivingTHEBUSINESSTIMESWEEKEND|FEBRUARY27-*****0BTTHE BUSINESS TIMES WEEKEND FEBRUARY 27-28 MORE THAN MEETS THE EYE Tokyo's cutting edge chefs dazzle the palate L2-5 GADGETS Silence is golden L14 HOME GARDEN Second nature L10-11 TRAVEL Land of plenty L6-8 BEAUTY Best face forward L12-13 DINING 100% Tetsuya L9 MOTORING A new beginning L20
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  • BT Living
    • DESTINATION DINING
      • Article, Illustration
        Lock icon More than meets the eye
        2744 2 / 3  -  Tokyo’s cutting edge chefs dazzle the palate with their inimitable cuisine. By Jaime Ee jaime@sph.com.sg FERRAN Adria may be closing El Bulli soon, but rather than throw up your hands and lament, “Damn there goes any miniscule hope of getting a table there this year”,
        2,744 words
      • Article
        Lock icon wine & dine with BTWeekend
        895 4 / 5 wine dine with BTWeekend Bar on 5 Level 5, Mandarin Orchard Singapore 333 Orchard Road ?6831-6288 Bar on 5 is the ideal place to chill out and unwind after a hard day’s work. Located five floors above Orchard Road, it provides a fabulous view of the shopping belt. The beverage
        895 words
    • TRAVEL
      • Article, Illustration
        Lock icon Land of plenty
        1133 6 / 7  -  The north-eastern tip of New Zealand’s South Island is a place where space, nature and farmed produce meet, to wonderful effect. By Geoffrey Eu effect. By Geoffrey Eu By By Geoffrey Eu IN New Zealand, luxury is defined by the abundance of space, the purity of nature
        PHOTOS BY GEOFFREY EU  -  1,133 words
    • DINING
      • Article, Illustration
        Lock icon Where the eating is easy
        1108 8 THE one quality that truly defines New Zealand cuisine is freshness of produce along with the talented young chefs who know what to do with it, of course. The restaurant scene there is youthful, vibrant and uncomplicated, best characterised by chefs whose passion, commitment and
        1,108 words
      • Article, Illustration
        Lock icon 100% Tetsuya
        638 9  -  Even if he has to shuttle between Singapore and Australia and adapt to suit local ingredients, Tetsuya Wakuda is determined to give diners at his first overseas outpost the quality he’s known for. By Olivia Ho By Olivia Ho oliviaho@sph.com.sg TOP Australian chef Tetsuya Wakuda says that his
        638 words
    • HOME & GARDEN
      • Article, Illustration
        Lock icon SECOND NATURE
        1091 10 / 11  -  The colonial bungalow, nestled among leafy Mount Pleasant, is a picture of serene harmony. By Corinne Kerk personal space| By Corinne Kerk btnews@sph.com.sg ALISON Taylor used to drive down Mount Pleasant Road, wishing she could live in one of the black and white colonial bungalows that dotted the
        PHOTOS BY YEN MENG JIIN  -  1,091 words
    • BEAUTY
      • Article, Illustration
        Lock icon Best face forward
        1724 12 / 13  -  After all that eating, drinking and being merry for the past two weeks of the Chinese New Year season, we all know what is coming up the unavoidable post-party problems of dull and aging skin, scraggly hair, weight gain and of course, oily skin and some really
        1,724 words
    • GADGETS
      • Article, Illustration
        Lock icon SILENCE IS GOLDEN
        910 14  -  Noise pollution getting your goat? Then you may want to consider investing in a pair of noise-cancelling headphones. By Christopher Lim By Christopher Lim limchris@sph.com.sg NOISE pollution is a problem everywhere these days, especially in crowded cities, and an obvious way to escape from the din is
        910 words
    • HEALTH
      • Article, Illustration
        Lock icon Defying the odds
        1027 15  -  Despite more vigilant screening, there’s a growing cohort of women here who will experience a relapse of breast cancer. By Cheah Ui-Hoon By Cheah Ui-Hoon uihoon@sph.com.sg AFTER breast cancer patient Jane Soong, in her 50s, was “cured” in 2001, she didn’t think the disease would come back
        FILE PHOTO  -  1,027 words
    • SPORT
      • Article, Illustration
        Lock icon Time for Lions to show their claws
        611 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Acting Deputy Foreign Editor ‘YOU come to Jordan, you die.” Those were the intimidating last words Singapore’s national footballers heard spewed from the mouths of their Jordanian opponents back in January 2009, when the two countries locked
        FILE PHOTO  -  611 words
      • Article, Illustration
        Lock icon Best is yet to come from record-breaker Tendulkar
        832 16  -  Naveen Verghese naveen@sph.com.sg Executive Sub-editor A CRICKETING landmark was reached last Wednesday at the Indian city of Gwalior when Sachin Tendulkar became the first batsman in history to score 200 runs in a one-day international (ODI). The Indian icon achieved the latest
        AP  -  832 words
    • GOLF
      • Article, Illustration
        Lock icon Swede sensations
        1043 17  -  There is mutual encouragement and true friendship among the Swedish players on tour. By Justine Moss By Justine Moss btnews@sph.com.sg THERE are some easy parallels between golfer Anna Nordqvist and her fellow Swede and famous golfing counterpart Annika Sorenstam. The 22-year-old Nordqvist, who gained her LPGA card in
        PHOTOS: GETTY IMAGES  -  1,043 words
    • MOTORING
      • Article, Illustration
        Lock icon ELECTRIC AVENUE
        754 18  -  spends a weekend with the Mitsubishi iMiEV, which is nothing short of a revolution. Samuel Ee samuelee@sph.com.sg WHAT makes for a truly momentous occasion? The discovery of penicillin? The fall of the Berlin Wall? Or maybe a little Mitsubishi with blue and yellow plates? Last weekend was more
        754 words
      • Article, Illustration
        Lock icon Kia’s best Forte
        447 19  -  The focus on Singapore’s 10 most popular makes continues this week with the No 4 brand Kia. Samuel Ee looks at the model which helped the Korean carmaker to accelerate from its previous No 11 position, and checks out the rest of the range here. brand focus
        447 words
      • Article, Illustration
        Lock icon From small to big
        355 19  -  lineup roundup By Samuel Ee samuelee@sph.com.sg THE current Kia lineup in Singapore reflects the slow infusion of the Korean carmaker’s new design DNA into its model range. So, while the Cerato Forte looks like the epitome of Continental chic, most of the other cars still look
        355 words
      • Article, Illustration
        Lock icon A NEW BEGINNING
        607 20  -  The Insignia has ventured where no Opel has gone before a new level of luxury.By luxury.By Samuel Ee samuelee@sph.com.sg TO SAY Opel has been through a rough patch is like saying driving in a North American snow storm can be hazardous. Both are gross understatements. But, unlike
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