The Business Times, 5 June 2010

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Microfilm: NL30703
Total Pages: 46
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    12 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg JUNE 5-6, 2010 S$1.00 MICA (P) 124/08/2009
    12 words
  • Article
    Lock icon Watchdog slaps big-ticket fine on Sistic
    467 1  -  Ticketing operator also told to scrap exclusive deals that keep competition out By Chan Yuping ypchan@sph.com.sg Singapore SISTIC closed the door on its rivals and opened the window to pricier tickets to performances. For this, Singapore’s competitive watchdog yesterday slapped fines of about $1
    467 words
  • Article, Illustration
    Lock icon World Cup: it’s a (beautiful) numbers game
    987 1  -  Nike versus Adidas; Fifa and the TV dollar this is big business By Michelle Quah michquah@sph.com.sg Singapore AS the globe’s most-watched event kicks off, come Friday, the business world is steeling for its own, equally grim, competition. The battles over sponsorship deals and
    AFP  -  987 words
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      160 1 the the raffles STELIOS FOUNDER GADGETS Sound judgement L8-9 WEALTH Rating agencies booked 30-31 the raffles conversation STELIOS HAJI-IOANNOU, FOUNDER OF EASYJET 8-9 markets dive Stocks plunge on US job data THE Dow Industrials slumped right from the opening bell on lower-than-anticipated jobs creation in May. By noon, it was
      160 words
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  • TOP STORIES
    • Article
      Lock icon MARKETS
      135 2 STI 2,806.51 (+13.04) STI FUTURES 2,804 (+11) SIMSCI 331.34 (+1.21) SIMSCI FUTURES 331.90 (+2.30) STOCKS Friday Change KL COMP 1,294.39 -0.05 NIKKEI 225 9,901.19 -13.00 HANG SENG 19,780.07 -6.64 SET 771.48 +5.52 JAKARTA 2,823.25 +12.27 MANILA 3,357.05 +1.82 KOSPI 1,664.13 +2.29 SHENZHEN B 556.27 +4.81 MUMBAI IND 17,117.69 +95.36
      135 words
    • Article
      Lock icon Poor US job numbers rock markets, send euro diving
      569 2 Figures bring the fear back about strength of US recovery latest us data| AP London STOCK markets fell sharply yesterday and the euro slid to a new four-year low against the dollar after US government figures showed lower-than-antici-pated jobs creation in
      AP  -  569 words
    • Article
      Lock icon 2 in 3 employers keeping workers past retirement
      422 2  -  More work needed ahead of 2012 law: minister By Teh Shi Ning tshining@sph.com.sg Singapore CLOSE to two in three private sector employers now allow workers to stay on past the statutory retirement age of 62, but the rest have no re-employment measures
      422 words
    • Article, Illustration
      Lock icon Naoto Kan is Japan’s new premier
      797 3  -  He vows to honour accord with Washington on relocating US Marines on Okinawa By Anthony Rowley btworld@sph.com.sg Tokyo JAPAN’S parliament yesterday overwhelmingly elected former deputy prime minister Naoto Kan to succeed outgoing prime minister Yukio Hatoyama, who quit this week after barely nine months
      797 words
    • Article, Illustration
      Lock icon Football’s biggest shopping window ready for business
      836 4  -  Great goals apart, the World Cup also sets the stage for some Dream Transfers By Malminderjit Singh msingh@sph.com.sg Singapore FANCY walking into a store and buying the likes of Fernando Torres, Kaka and Steven Gerrard? Well, football players competing in this summer’s World
      AFP  -  836 words
    • Article
      Lock icon And the winners during World Cup will be ...
      575 4  - And the winners during World Cup will be Media, telecom and F&B firms top Hwang-DBS Vickers’ list of probable winners in Malaysia By Pauline Ng btworld@sph.com.sg Singapore NEVER mind which teams are favourite to take home the 2010 Fifa World Cup. With only a week to the kick-off in South
      575 words
    • Article, Illustration
      Lock icon Prudential CEO wins backing as investor fury starts to ease
      593 5 Big shareholders say it will be premature for Thiam to go as insurer’s operations and strategy can’t be faulted Reuters Bloomberg London PRUDENTIAL will try to draw a line under its botched Asian takeover at an investor meeting on Monday
      Reuters; Bloomberg  -  593 words
    • Article, Illustration
      Lock icon Seoul demands apology from North Korea for Cheonan sinking
      519 6  -  By Lee U-Wen leeuwen@sph.com.sg Singapore SOUTH Korean president Lee Myung Bak has demanded that North Korea apologise to his country for its role in the sinking of the Cheonan naval ship that claimed the lives of 46 young South Korean sailors.
      REUTERS  -  519 words
    • Article
      Lock icon Increasingly hawkish Fed ponders rate hikes
      600 6 Policymakers may be nervous about keeping rates too low for too long Reuters Atlanta THREE top Federal Reserve officials said on Thursday it may soon be time to begin raising interest rates as the economic recovery in the United States gathers momentum, despite persistently
      Reuters  -  600 words
    • Article, Illustration
      Lock icon Morgan Stanley’s Asia chairman to relocate to New York
      290 6 Bloomberg Shanghai MORGAN Stanley, the world’s largest brokerage, said its Asia chairman Stephen Roach will relocate to New York from Hong Kong and become its nonexecutive chairman for Asia. The move will take effect on July 1, Morgan Stanley said in
      Bloomberg; BLOOMBERG  -  290 words
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      114 2 CONTENTS NEWS Top Stories 2-6 Week in Review 7 Raffles Conversation 8-9 Companies 10-13 From The Desk Of 14 Singapore 15-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-32 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Design L2-5 Shopping L6-7 Gadgets L8-9 Travel L10-11 Home&
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      44 3 Singapore Pools World Cup 2010 Information Note For more details, visit www.singaporepools.com.sg or call 6786 6688. SINGAPORE P L A Yfi) Alwa ys play with care. Enjoy the World Cup. Toujard5 community responsibly} Do not bet illegally. Know Your Limits Purpose and Benefit 1
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK May 31-June 4, 2010
      • Article
        Lock icon Competition panel looks into Pru-AIA deal
        45 7 THE proposed merger between Prudential and AIA faces one more hurdle–that itwill not affectindustry competitiveness in Singapore. The Competition Commission of Singapore (CCS) has sought feedback on this question, but it is not ready to comment on the issue.
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      • Article
        Lock icon Buying buzz with a twist at Shanghai Expo
        45 7 THE World Expo in Shanghai acknowledged as the biggest ever is certainly living up to the hype. The cash registers are ringing and the buzz is unmistakeable. With 190 countries participating, the world is coming to China.
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      • Article
        Lock icon UOB patriarch looking for a successor
        40 7 WEE Cho Yaw, United Overseas Bank chairman, is looking for his successor which means that for the first time in its history, the 75-year-old bank could have a chairman from outside its first family.
        40 words
      • Article
        Lock icon New poster boys of S’pore business revel in change
        53 7 BEING adaptable in the constantly changing business world was a common element in the success stories of winners at last night’s Singapore Business Awards 2010. The prestigious Businessman of the Year award went to Zhong Sheng Jian, chairman and CEO of
        53 words
      • Article
        Lock icon RTC’s $130m claim against Peter Lim, others dismissed
        51 7 RAFFLES Town Club Pte Ltd lost its claim of more than $130 million against ex-remisier king Peter Lim and his co-defendants for breach of duty while they had been directors of RTC. Justice Chan Seng Onn dismissed RTC’s claim, calling it “wholly
        51 words
      • Article
        Lock icon Container crunch rattles shipping firms
        38 7 CONTAINER shipping companies find themselves at a bizarre buffet, with food piled high but no plates. Freight rates and volumes have spiked but containers are expected to remain in dire shortage until September.
        38 words
      • Article
        Lock icon Pru’s Asian dream dies a costly death
        70 7 PRUDENTIAL’S lofty ambitions to become Asia’s largest insurance provider are no more: the British company said yesterday that “it is in negotiations with American International Group, Inc for the termination of the agreement for the combination of Prudential with AIA Group Ltd”. But
        70 words
      • Article
        Lock icon S’pore developers tread softly amid China curbs
        44 7 EVEN as China developers continue to delay home sales, their Singa-pore-listed counterparts are ploughing ahead with their Chinese project launches. But some Singapore developers concede that they will be monitoring the market closely before fixing future launches.
        44 words
      • Article
        Lock icon Hatoyama’s resignation hits
        51 7 Japan stocks, yen JAPAN was plunged into a state of shock and political confusion after Prime Minister Yukio Hatoyama and secretary-general of Mr Hatoyama’s ruling Democratic Party of Japan (DPJ) Ichiro Ozawa both announced their resignations. The yen weakened and Japanese share prices declined after the shock
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      • Article, Illustration
        Lock icon Uniquely S’pore clinches top-place finish
        88 7 NEW YORK proved to be a lucky city for Uniquely Singapore Clipper on Tuesday when it notched up its first top-place finish in the Clipper 09-10 Round the World Yacht Race. The Big Apple has a special place in the hearts of many Uniquely Singapore
        88 words
      • Article
        Lock icon Subsales become big money-spinners in 2010
        48 7 SUBSALES are becoming more and more profitable. The proportion of subsales of private apartments and condos yielding a profit grew to 95.1 per cent in Q1 and 96.1 per cent in April, according to Savills Singapore’s analysis of URA Realis caveats data.
        48 words
      • Article
        Lock icon Store buzzes, Rev Kong silent, church’s financials speak up
        50 7 SINCE falling into the limelight this week as one of the City Harvest Church members questioned by the Commercial Affairs Department (CAD), founder Kong Hee has not made any public appearance or given any update on his Facebook and Twitter pages.
        50 words
    • NEXT WEEK June 7-11,2010
      • Article
        Lock icon US DATA
        34 7 June 7 April Consumer credit June 9 April Wholesale inventories June Fed Beige Book June 10 Initial claims April Trade balance June 11 May Retail sales June Michigan sentiment April Business inventories
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      • Article
        Lock icon SINGAPORE DATA
        7 7 June 7 May International Reserves
        7 words
      • Article
        Lock icon EVENTS
        32 7 June 9 LONDON BOE Monetary Policy Committee meeting, interest rate decision at 1100 GMT on June 10 June 10 FRANKFURT, Germany ECB Governing Council meeting, interest rate announcement at 1145 GMT
        32 words
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  • Page 7 Miscellaneous
    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 1
      361 7 CRYPTIC CROSSWORD Across 1 Inspectors’ appraisal fools people, in a way (10) 6 Young bird lacking the knowledge to be fashionable (4) 10 Quick trim (5) 11 Enter into an arrangement for storage (9) 12 A city to impress sailors (8) 13 Chopper blade going to and fro (5) 15
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon High flyer
      1431 8/9  -  Stelios Haji-Ioannou does not mince his words when it comes to the aviation industry. By Ven Sreenivasan By Ven Sreenivasan ven@sph.com.sg ‘THIS is a tough business. Everyone is competing against everyone else, offering the same services to the same destinations.” Stelios Haji-Ioannou, the founder of leading European budget
      YEN MENG JIIN  -  1,431 words
    • Article
      Lock icon The philanthropist
      813 8/9 “EVERYONE should be motivated to give something back to society. But never over-extend yourself in the process.” That is the advice that the advice that Europe’s easyGroup founder Stelios Haji-Ioannou has for would-be philanthropists. “Don’t ever go for a “big bang”, with a newspaper announcements one day, then
      813 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
      Lock icon UOB looking to raise Vietnam bank stake
      415 10  -  Southern Bank selling new shares this month to raise registered capital to 3.05t dong By Emilyn Yap emilyny@sph.com.sg Singapore UNITED Overseas Bank (UOB) is said to be seeking permission from the Vietnamese government to raise its stake in the country’s Southern Commercial Joint
      415 words
    • Article, Illustration
      Lock icon Ex-POSBank CEO roped in to advise POSB
      285 10  -  By Felda Chay feldac@sph.com.sg Singapore DBS Group Holdings yesterday unveiled its latest move to win hearts and bank accounts in its ongoing charge to regain market share in the consumer banking business: It has appointed former POSBank chief executive Bertie Cheng as adviser
      285 words
    • Article
      Lock icon SGX grants China Milk two-month extension
      229 10  -  By Chan Yuping ypchan@sph.com.sg Singapore CHINA Milk Products Group, which had to announce its financial results for the year ended March 31 by May 30, said Singapore Exchange (SGX) has granted it a two-month extension to July 31. SGX said no further extension will
      229 words
    • Article
      Lock icon MapletreeLog completes purchase of 2 properties
      225 10 MAPLETREE Logistics Trust (MLT) has completed the acquisition of two properties one in Vietnam for US$6.4 million and the other in Japan for 1.49 billion yen (S$22.8 million). The purchase price and other acquisition costs were fully funded by debt, given the relatively small
      225 words
    • Article
      Lock icon Telkomsel tower deal still being worked out: SingTel
      269 10 THE US$1.2 billion deal to sell its stake in some 9,000 telecommunications towers in Indonesia to local operator PT Telekomunikasi (Telkom) is still being worked out and it’s too early to comment on the sale, says Singapore Telecommunications. “As shareholders of Telkomsel,
      269 words
    • Article, Illustration
      Lock icon CapitaLand CEO buys Interlace penthouse
      323 11  -  Unit costs $3.74m; son and daughter-in-law buy apartment unit for $2.47m; review and approval by audit committee By Kalpana Rashiwala kalpana@sph.com.sg Singapore CAPITALAND Group president and chief executive officer Liew Mun Leong, and his son and daughter-in-law, have picked up two units at The Interlace
      323 words
    • Article
      Lock icon Sino-Environment comes under judicial management
      493 11  -  By Lynette Khoo lynkhoo@sph.com.sg Singapore THE High Court has given the green light for Sino-Environment to be placed under judicial management and approved the appointment of judicial managers. This followed a roadblock in the group’s cash and special audit and could pave the way for
      493 words
    • Article
      Lock icon Moody’s downgrades CMT-sponsored notes
      346 11 MOODY’S Investors Service yesterday said that it has downgraded two series of notes sponsored by CapitaMall Trust (CMT) due to insufficient liquidity. The ratings agency downgraded the US$255.5 million series 25 floating rate notes and the 175 million euro (S$300 million) series 30 floating rate notes
      346 words
    • Article, Illustration
      Lock icon Stable Wall St gives STI 2.4% gain for the week
      550 13  -  stocks R Sivanithy sivan@sph.com.sg Senior correspondent IT was an odd week in the local stock market as traders grappled with mainly negative news from Europe but took their cues instead from Wall Street, which stabilised after heavy selling in previous
      550 words
    • Article
      Lock icon Parkway units’ directors pare stakes
      420 13  -  By Chen Huifen xuifen@sph.com.sg Singapore SEVERALdirectorsatParkway Holdings’subsidiaries have been generating a flurry of activity in the market even while Fortis Healthcare, a substantial shareholder of the homegrown hospital group, continues to mull over its options following Khazanah Nasional’s bid late last month to become the
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    • Article
      Lock icon TOP 20 ACTIVES
      110 13 VOL CLOSE GentingSP 34,374 103 -2.0 -1.9 CoscoCorp 31,322 144 4.0 2.9 GoldenAgri 25,394 50.5 0.0 0.0 Mermaid 24,695 53 4.0 8.2 Lereno 23,469 1 0.0 0.0 Abterra 22,093 5 0.0 0.0 NobleGrp 19,896 182 -3.0 -1.6 Sapphire 19,372 1.5 0.0 0.0 SingTel 18,113 296 0.0 0.0
      110 words
    • Article
      Lock icon STI STOCKS
      107 13 Stock name Close Change CapMallsAsia 2.140 CapitaLand 3.600 CapitaMall 1.850 -0.020 CityDev 10.640 +0.140 ComfortDelGro 1.420 +0.010 DBS Grp 13.780 +0.100 F&N 4.850 -0.050 Genting SP 1.030 -0.020 Golden Agri 0.505 HK Land 4.950 -0.130 JMH 36.940 +0.840 JSH 21.480 +0.680 Jardine C&C 29.920 +1.420 Keppel Corp 8.670
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    • Article
      Lock icon TOP GAINERS
      54 13 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 175.2 1.1 Jardine C&C 2992 142.0 5.0 JMH 3694 117.8 2.3 Westech Elec 10 346 96.0 38.4 JSH 2148 95.3 3.3 WesTech 360 80.0 28.6 CityDev.ES.1006 1072 32.0 3.1 STXPO 100 1346 28.0 2.1 UOB.ES.1006 1932 20.0 1.0 DBXT MSAsExJp
      54 words
    • Article
      Lock icon TOP LOSERS
      64 13 BY CENTS CLOSEDOWN GLD 10US$ ***** -204.7 -1.2 UOB 5.05%NCPS 100 ***** -60.0 -0.6 OUE 1750 -50.0 -2.8 DBXT FTVietnam 10US$ 4399 -36.5 -0.6 Lyxor MS India 10US$ 1479 -29.4 -1.4 HK Land 495 -18.2 -2.6 Thai Prime Fd 620 -14.0 -1.6 DBXT MSTaiwan 10US$ 1466 -11.2 -0.5
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      Lock icon Page 11 Advertisements Column 1
      27 11 GCB Land Mt Echo Park Land Size 16,826 sqft Ideal for rebuild Vacant Possession Quiet ambience North/East facing Appointed Sole Agent Citiprop Pacific KC Ng 9853 1001
      27 words
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      32 12 H yy Sr\ y n u rSO Jj £1 <- ■w^r—i* i-fi ■m TRAV -r Get the best of both worlds on Travel Destinations, every Monday in English, and Thursday in Chinese. mypaper
      32 words
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      323 13 NOTICES In the Matter of The Companies Act Cap. 50 and In the Matter of SOUTHLAND INVESTMENT (PRIVATE) LTD (Registration No. *****5049N) (In Members' Voluntary Liquidation) At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 101 Thomson Road, #09-03A United Square, Singapore *****1 on Monday,
      323 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Stay ahead with a paradigm shift
      985 14  -  Network coverage and exclusive content will cease to be differentiators for telco operators as the industry consolidates from the desk of Peter Ho Head of Sales Engineering, Asia Pacific, Convergys Corporation THE recent English Premier League (EPL) and World Cup 2010 bidding exercise in
      985 words
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  • SINGAPORE
    • Article
      Lock icon Temasek Cares gets $70m more to fund programmes
      347 15  -  By Teh Shi Ning tshining@sph.com.sg TEMASEK Cares yesterday announced a fresh endowment of $70 million from Temasek Holdings. Coming on top of the Singapore investment agency’s initial $100 million endowment gift when it first set up Temasek Cares last June, this new
      347 words
    • Article, Illustration
      Lock icon Penang opens investment, tourism office in Singapore
      475 15  -  State chief minister identifies areas that have potential for growth By Cheah Ui-Hoon uihoon@sph.com.sg IN a bid to raise the awareness of Penang and its investment potential, the state government has set up an investment and tourism office in Singapore. It is the
      475 words
    • Article, Illustration
      Lock icon A designer’s take on everyday objects
      733 17  -  Inspired by the linga and yoni, Laufen’s Palomba Collection can inspire, enthral and even turn you on By Arthur Sim simska@sph.com.sg GOOD design can inspire, and sometimes even enthral. Very seldom, however, does it actually turn you on unless of course you are looking
      LAUFEN PALOMBA  -  733 words
    • Article
      Lock icon Forum on best practices for building cities, communities
      226 17 MORE than 25 ministers and 45 mayors and governors will be attending the second biennial World Cities Summit (WCS) 2010 at Suntec City between June 28 and July 1. Highlights of WCS 2010 include the inaugural World Mayors’ Forum with the theme
      226 words
    • Article
      Lock icon Flu cases rising: MOH
      246 17 THE Ministry of Health issued a notice yesterday on the rise in flu activity. This increase follows the trend of flu activity usually observed for the January-February and May-June periods in Singapore. MOH monitoring showed that influenza A (H1N1-2009) continues to be the main circulating flu
      246 words
    • Article
      Lock icon Allen & Gledhill keeps crown by big margin
      413 18  - Allen Gledhill keeps crown by big margin S’pore Deal Firm of Year wins 7 awards out of 36 By Teh Shi Ning tshining@sph.com.sg Singapore ALLEN Gledhill kept its crown as the top local law firmatlastnight’sAsianLegal Business SE Asia Law Awards. Winning seven awards out of 36 categories, including the coveted
      413 words
    • Article
      Lock icon More windows fall from high-rise flats
      223 18 SEVENTY-ONE windows fell from high-rise flats and apartments last year, up from 44 in 2008, says the Building and Construction Authority (BCA). This rise was attributed to an increase in the number of sliding windows that fell. Twenty-nine such windows fell in 2009, up
      223 words
    • Article
      Lock icon Top clinician made director of Cardiovascular Research Institute
      171 18 INTERNATIONALLY renowned heart clinician and researcher, Professor Mark Arthur Richards has been appointed director of the Cardiovascular Research Institute at the National University Heart Centre, Singapore. “We are delighted to have someone of Professor Richards’ stature join our faculty. He is well
      171 words
    • Article, Illustration
      Lock icon 8 S’pore teams competing in Shell Eco-marathon
      247 18 THE Shell Eco-marathon, which will be held for the first time in Asia next month, will see eight Singapore teams competing to design, build and test energy efficient vehicles. These eight teams four from the Institute of Technical Education, one from National University
      247 words
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      11 15 CATS Recruit The first door to your world of opportunities CLA/AUG06/g
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      Lock icon Page 15 Advertisements Column 2
      121 15 ??E&O launches Penang condo in S’pore, Page 35 Meier Suites Exclusive Premium Freehold Development r u t ise A r L 55 Exclusive Freehold Suites with 114 Carpark Lots. Nestled in the tranquil enclave of prime district 15 at Margate Road, off Meyer Road. Premium Suites ranging from 1798-2228 sqft,
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      Lock icon Page 16 Advertisements Column 1
      324 16 niitifi mm* z/§ t>> Or/7 Jr >/ ■sMl i'ii <$¥> Visit us at The Kidz Academy The Heartlands Century Square Booth 7 4-10 June *****10am-10pm 1 Subscribe to 1-year or 2-year of a Daily Newspaper sfl^TsTIMES. Hi BERITA HARIAN gjL&Lp (Lpijffr 3-month of another Newspaper STRAITS TIMES. THE BUSINESS TIMES
      324 words
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  • WORLD
    • Article, Illustration
      Lock icon BP attempts challenging task of putting lid on oil gusher
      633 19 If the cap can be put on successfully, BP will siphon oil and gas to a tanker AP NYT New Orleans, Louisiana BPplc sliced off apipe with giantshears in the latest bid to curtail the worst oil spill in US
      AP; NYT; BLOOMBERG  -  633 words
    • Article
      Lock icon Lehman may raise US$10m at art sale
      295 19 Bloomberg New York LEHMAN Brothers Holdings Inc, the investment bank liquidating in bankruptcy, may reap more than US$10 million from an art sale at Sotheby’s this fall, including a Julie Mehretu painting estimated to fetch a near 40-fold profit. The swirling abstract by
      Bloomberg  -  295 words
    • Article
      Lock icon KL open to proposal to buy all 23 toll road concessions
      415 19  -  By S Jayasankaran btworld@sph.com.sg Kuala Lumpur APROPOSALtotakeoverMalaysia’shighways, a plan that seemed far fetched only a few months ago, now appears to be gaining traction, Yesterday, Works Minister Shaziman Abu Mansor told reporters that the government was “open” to a
      415 words
    • Article
      Lock icon Top IMF official urges increase in SDRs
      573 20 Fresh funding should come more from members than from increased borrowings Reuters Busan THE IMF needs more funds after supporting Greece’s bailout and should “very significantly” increase the amount of special drawing rights, the head of the Fund’s policy-steering committee said yesterday. Egyptian
      Reuters  -  573 words
    • Article, Illustration
      Lock icon Steelmakers set to invest 1.42t rupees in south India
      554 20 Bloomberg Mumbai ARCELORMITTAL, the world’s largest steelmaker, Posco and five rivals may spend a combined 1.42 trillion rupees (S$42.6 billion) to build plants in southern India, after investments were stymied in other states. ArcelorMittal plans to invest 300 billion rupees in
      Bloomberg; AFP  -  554 words
    • Article, Illustration
      Lock icon Chinese exporters dump euro for dollar
      643 22 Local govts caution firms about settling trade in euros Reuters Beijing CHINESE exporters who made a big push only a year ago to bill in euros are increasingly turning their backs on the wounded European currency and demanding dollars instead. By contrast, Beijing last
      Reuters; AFP  -  643 words
    • Article
      Lock icon Bakrie denies tax bribe allegations
      370 22 Bumi, subsidiaries being probed over ‘unpaid’ taxes AFP Bloomberg Jakarta FRESH allegations that companies linked to Indonesian tycoon and politician Aburizal Bakrie bribed an official to avoid paying millions of dollars in taxes are baseless, a spokesman said yesterday. Bakrie family spokesman Lalu Mara Satriawangsa
      AFP; Bloomberg  -  370 words
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  • Page 21 Advertisements
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      Lock icon Page 21 Advertisements Column 1
      208 21 L BEERFEST ASIA 2010 with OCBC TITANIUM j The largest N beer festival in Singapore nmniii] fell ifsiyfiliilsjimiH World Cup Screenings c cC /I I Hosting Entertaining 1 It i cc v Tribute to Rock! Live music nightly with f Hell's Belles (USA), I Killer Queen and The > U2
      208 words
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  • MARKETS
    • Article
      Lock icon Untitled
      8877 23 Transaction date: Jun 4 Transaction date: Jun 4 Transaction date: Jun 4 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 6.5 3148 8Telecom 14.5 -0.5 30 14.5 14.5 14.5 15 1.7 12.5
      8,877 words
    • Article
      Lock icon SGX CATALIST
      1774 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 $mil 10 5 1181 t AA Grp 6 5.5 7 33.3 5.8 25 13 8538 t APStrategic 16 unch 1 16 16 16 18.5
      1,774 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      196 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 4 4 0 0 0 6 4 4 Manufacturing 65 36 72 5 4 11 70 40 83 Commerce 25 11 22 5 1 3 30 12 25 Tpt/Stor/Comms 20 7 13
      196 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 15,246 15,246 65,702 65,702 Manufacturing 202,055 39,723 241,778 190,461 830 191,291 Commerce 93,393 6,793 100,186 131,859 1,970 133,829 Tpt/Stor/Comms 111,521 77 111,598 185,727 10 185,737 Finance 24,055 124 24,179 252,630 13 252,643 Construction 21,270 23,615
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      827 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning May 31 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) CSC Hldgs Ltd 2-Jun-10 See Yen Tarn *Buy 1000 0.07 2350 0.19 3350 0.27 Ionics EMS INC
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      Lock icon STOCK MARKETS
      92 27 YTD change: -3.14% 52-week high: 3,037.97 on April 15,2010 52-week low: 2,211.81 on June 23,2009 Source: Bloomberg YTD change: -9.57% 52-week high: 23,099.50 on Nov 18,2009 52-week low: 17,185.90 on July 13,2009 Source: Bloomberg YTD change: -1.66% 52-week high: 11,258.00 on April 26,2010 52-week low: 8,087.19 on July
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      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      374 27 In local curr In S$ In US$ dy yr dy yr dy yr Jun 3 Index Change Change Change Change Change Change World Index Preliminary 807.0 0.8 -3.1 0.5 -6.7 0.9 -6.8 ‡EAFE Preliminary 744.8 1.6 -5.1 1.4 -13.0 1.9 -13.0 Europe Preliminary 1067.7 1.2
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      Lock icon INTERBANK CURRENCY RATES
      152 27 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1863 1.1876 0.8463 0.8465 Canadian dollar 1.3483 1.3501 0.9618 0.9623 Euro 1.7088 1.7110 1.2190 1.2195 NZ dollar 0.9607 0.9620 0.6853 0.6857 Sterling pound 2.0511 2.0537 1.4632 1.4638 US dollar
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      Lock icon LIFFE
      80 27 COCOA (£/tonne) Close Prev High/Low Jul 10 2550 2520 2558/2513 Sep 10 2400 2393 2416/2383 Dec 10 2341 2334 2351/2334 Mar 11 2298 2291 2311/2292 COFFEE (US$/tonne) Close Pev High/Low Jul 10 1346 1338 1350/1332 Sep 10 1382 1373 1384/1367 Nov 10 1405 1399 1409/1391 Jan 11 1426 1418
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      Lock icon PALM OIL
      62 27 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 10 2556 2560 2562 2555 73 2699 Jul 10 2500 2515 2521 2495 1865 ***** Aug 10 2459 2474 2481 2455 6491 ***** Sep 10 2438 2448 2455 2431
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      Lock icon CHICAGO BOT
      103 27 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jul 10 955.00 932.50 958.00 933.50 Aug 10 937.75 920.25 940.00 923.50 Sep 10 925.75 909.00 927.00 911.00 Nov 10 919.75 903.50 922.00 904.25 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Jul 10 37.66 37.42 37.68 37.35 Aug
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      Lock icon OIL
      73 27 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 74.51 0.40 WTI (Near Mth) 74.42 0.83 Dubai (1-Mth F) 74.49 2.44 Tapis blend 79.50 2.30 Minas 77.00 2.40 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 73.33 2.44 Jet Kerosene 85.70 2.40 US$/barrel Opec Oil Basket Price 72.86 1.71
      73 words
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      Lock icon LONDON METALS
      71 27 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1923.50 1951.50 3 months 1955.00 1984.00 Copper, Grade A (US$/tonne) Cash 6495.00 6638.00 3 months 6525.00 6668.00 Lead (US$/tonne) Cash 1618.50 1667.25 3 months 1645.00 1696.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
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      Lock icon METALS
      65 27 GOLD (US$/oz) Jun 04 Jun 03 Hong Kong 1205.*****2.80 Jun 03 Jun 02 London 1216.*****7.95 1217.*****8.75 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 25.25 25.02 Source: UOB PLATINUM Lon (US$/oz) Jun 03 Close Previous PM Fix 1565.*****2.00 AM Fix 1563.*****9.00 Source: Thomson Reuters PLATINUM NYMEX (US$/oz) Jun
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  • PERSPECTIVE
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      Lock icon Next version of the Obama Doctrine will look very different
      1132 28 / 29  -  The current US-led military intervention in Afghanistan suggests that America will not be able to continue to shoulder most of the burden of containing various real and imaginary threats around the world Leon Hadar Washington correspondent THE members of Washington’s
      AFP  -  1,132 words
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      Lock icon Perhaps the Japanese should choose Wen as their PM
      824 28 / 29  -  Japan seems unable to produce leaders with the same combination of political savvy and diplomatic skill that their Chinese counterparts often display Anthony Rowley Tokyo correspondent WHEN asked this week whom they would like to see as their country’s next prime
      824 words
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Rating agencies pilloried
        1049 30 / 31  -  GENESIS OF THE CRISIS Investment banks jumped on the opportunity to package mortgage bonds into investible instruments and the appetite for these gave rise to the creation of collateralised debt obligations, which very effectively disguised the true risks of their underlying sub-prime assets The conduct of ratings
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      • BROKERS' TAKE
        • Article
          Lock icon Singapore Exchange
          487 30 / 31 Neutral CIMB June 4 Close: $7.45 THE Singapore Exchange announced a $250 million plan to create the world’s fastest trading engine featuring the lowest trading latency, a world-class data centre and seamless connections to trading communities in global trading hubs. This initiative is called REACH and will be
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        • Article
          Lock icon KSH Holdings
          272 30 / 31  -  Buy DMG Partners Securities June 4 Close: $0.26 Compiled by Lynette Khoo KSH won a contract by a subsidiary of LippoGroup– LippoReal EstatePteLtd to build Centennia Suites, a luxury 36-storey freehold strata development in the prime River Valley Road area. The project will commence in July and is
          272 words
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        Lock icon Asset allocation makes a comeback
        1376 32  -  After a decade out of favour, the investment strategy is back in play amid the current bear market wealth insights Shane Oliver AMP Capital Investors The writer is head of investment strategy and chief economist at AMP Capital Investors EVERYTHING comes in cycles, and one
        Source: E.Dimson, P.Marsh & M.Staunton, Global Investment Returns Yearbook, London Business School/ABN AMRO 2003. AMP Capital Investors.  -  1,376 words
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        Lock icon Markets down, opportunities up
        1092 33  -  Real estate is beginning to offer attractive value for investors looking to buy, according to Citi show me the money Teh Hooi Ling hooiling@sph.com.sg Senior correspondent The writer is a CFA charterholder EXCESS liquidity, once so ample, has now decelerated to a point that we are
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    • WEALTH REAL ESTATE
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      68 34 > Trizon The 1 W& Featuring the Quality Homes Collection The Trizori. Beyond Excitement, Beyond AA/ords. For enquiries: Kelvin Tan 9693 0383, KTan@savills.com.sg or Gladis Heng 9387 4624, GHeng@savills.coin.sg To arrange for an appointment to view our show unit, please call 6836 3338 or search with us at savills Savills
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  • Page 36 Advertisements
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      26 36 Published and printed by Singapore Press Holdings Limited. Co. Regn. No. *****2868E. A member of Audit Bureau of Circulations Singapore. Customer Service (Circulation): 6388-3838, circs@sph.com.sg, Fax
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      47 1 LivingTHEBUSINESSTIMESWEEKEND|JUNE5-*****BTTHE BUSINESS TIMES WEEKEND JUNE 5-6 2010 GADGETS Sound judgement L8-9 KITCHEN CHEMISTRY Eateries dish up creative concepts L2-5 TRAVEL A word to the weiss L10-11 PERSONAL SPACE Room to grow L12-13 SPORT The hatchet man cometh L16 MOTORING High-speed practicality L18-19 HEALTH Operation robotics L14 PHOTO:
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  • DINING
    • KITCHEN CHEMISTRY
      • Article, Illustration
        Lock icon Pamplemousse Bistro & Bar
        678 2 / 3  - Pamplemousse Bistro Bar 7 Dempsey Road, #01-04 ?6475-0080 www.pamplemousse.com.sg Conventional eateries are pleasing the crowds and keeping it fresh by dishing up out-of-the-box concepts By Audrey Phoon aphoon@sph.com.sg SO the adrenaline’s still coursing through your veins from the last time you watched Hell’s Kitchen, and your domestic helper has had
        JOHN HENG  -  678 words
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        Lock icon Carousel
        680 2 / 3  -  Ground floor, Royal Plaza on Scotts 25 Scotts Road ?6589-7799 dining.royalplaza.com.sg By Audrey Phoon YOU’VEheardoflocalbuffets,international buffets, seafood buffets and even chocolate buffets. But a molecular gastronomy buffet? That’s something that is as far-out to many foodies as the idea of noodles being squirted out of a syringe, or ice
        680 words
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        Lock icon Test Kitchen
        552 4 / 5  -  Level 2, House, 8D Dempsey Road ?6475-7787 www.dempseyhouse.com By Audrey Phoon aphoon@sph.com.sg PASTRY chefs whose iron-fisted employers leave them with little freedom to explore the bounds of their creativity must be staring green-eyed at their counterparts at Barracks, who since April have been freewheeling it at a new
        552 words
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        Lock icon shots.
        651 4 / 5  -  8 Ann Siang Hill 6224-8502 shots.com.sg By Melissa Lwee mellwee@sph.com.sg WHAT is Edward Loh’s idea of a perfect day? “You start with a great shot of espresso, spend the day doing the work you love and then finally, end off with a nice shot of sake.” And so it
        JOHN HENG  -  651 words
    • Article
      Lock icon wine & dine with BTWeekend
      996 4 / 5 wine dine with BTWeekend Pine Court Chinese Restaurant Level 35 Mandarin Orchard Singapore 333 Orchard Road ?6831-6288 Relish exquisite Cantonese cuisine especially created by master chefs at Pine Court Chinese Restaurant. Traditional recipes take on a refreshing interpretation featuring signature dishes such as Peking Duck with Spinach Crepes, Baked Champagne-glazed
      996 words
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  • SHOPPING
    • Article, Illustration
      Lock icon Project retail
      1200 6 / 7 IT was supposed to be a noble, and novel, idea. Give budding local fashion designers with more talent than money a platform to showcase their designs and sell them. By so doing, the designers are literally given free shop space and a chance to find out what it’s
      1,200 words
    • Article, Illustration
      Lock icon No risk, no gain
      526 6 / 7  -  25 budding local designers get to sell their designs at PARCO Marina Bay under the Fashion Incubator Programme, while a group of young designers takes the plunge in opening a boutique.Melissa Lweefinds out how some of them are By Melissa Lwee mellwee@sph.com.sg BY opening a shop
      PHOTOS BY JOHN HENG  -  526 words
  • Page 6 / 7 Advertisements
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      260 6 / 7 HHONORS HILTON WORLDWIDE ..L W WALDORF ASTORIA' CON RAD Hilton Hilton Kuala Lumpur Book your trips before 15 July and stay through 6 September 2010 at destinations in over 80 countries for up to 30% less. Best of all, these rates include breakfast. Start planning your getaway today. Visit hilton.com/APACgreatgetaway
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  • GADGETS
    • Article, Illustration
      Lock icon SOUND JUDGEMENT
      1509 8 / 9  -  Touted as the missing link to audiophile sound, digital-to-analogue converters and headphone amplifiers are the secret to getting the most from digital music. By Christopher Lim music.By Christopher Lim WITH the phasing out of CDs and vinyl records, music lovers are increasingly keeping their collections on computers or
      1,509 words
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  • TRAVEL
    • Article, Illustration
      Lock icon A word to the weiss
      1156 10 / 11  -  The only thing the Müncheners take more seriously than football is beer hardly shocking in the land of Oktoberfest. By Nisha Ramchandani seriously By Nisha Ramchandani nishar@sph.com.sg IF you kick a football out of soccer-mad gapore,whichcitydoyouthinkit’smostlikely to land? Here’s a clue a place where the
      PHOTOS: AFP, AP, BLOOMBERG  -  1,156 words
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  • HOME & GARDEN
    • Article, Illustration
      Lock icon Room to grow
      966 12 / 13  -  Ditching the dark, sophisticated look favoured by young professionals, the Ongs have made their family home modern, fuss-free and family-oriented. By Corinne Kerk personal space andfamily-oriented.By Corinne Kerk btnews@sph.com.sg IT was late 2009 and the property market, after a brief slump, was making a rather quick and
      PHOTOS BY YEN MENG JIIN  -  966 words
  • Page 12 / 13 Advertisements
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      28 12 / 13 lOHN ERPOS Ho^e SAVE UP TO 80% Furniture, Lamps, Rugs Accessories Today 10-7PM Sunday 10-5PM UNDER THE TENT 7A 7B DEMPSEY ROAD FREE PARKING FOR MORE INFORMATION www.johnerdosgallery.com
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  • HEALTH
    • Article, Illustration
      Lock icon Operation robotics
      1072 14  -  Robotics is definitely the way surgery is going, given its advantages over endoscopy.By Cheah Ui-Hoon endoscopy.By Cheah Ui-Hoon uihoon@sph.com.sg WHEN Ms Tan (not her real name), a 36-year-old administrative assistant, was diagnosed with a thyroid nodule (a fleshy lump) last year, the conventional option then was open surgery
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  • SINGAPORE ARTS FESTIVAL
    • Article, Illustration
      Lock icon Cultural freedom explored
      488 15  -  heroine is about breaking free of social constraints revolving around just one performer. By Melissa Quek By Melissa Quek IT’S been six years since it first appeared on stage, but heroine still appeals for the issues of freedom that it addresses. The concept of freedomhereisn’tthepoliticalkind but more
      488 words
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      Lock icon A different opera every night
      452 15  -  By Melissa Quek btnews@sph.com.sg ALICE Ho, honorary secretary of Kreta Ayer People’s Theatre Foundation (KAPTF) Management Committee, has been fielding calls by people curious about the Nanning Cantonese Opera Troupe’s (NCOT) performance at this year’s Arts Festival. Far from being annoyed, she is genuinely pleased,
      452 words
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  • SPORT
    • Article, Illustration
      Lock icon The hatchet man cometh
      503 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Acting Deputy Foreign Editor THERE’S a new sheriff on the tennis courts these days, and his name is neither Roger Federer or Rafael Nadal. Enter Robin Soderling, the man who now has the unique distinction of being the first player
      REUTERS  -  503 words
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      Lock icon It’s pedal to the metal for the Boston Celtics
      663 16  -  slam dunk with steve dawson Steve Dawson DESPITE the support of a Spaniard named Pau Gasol the catalyst for their championship success in 2009 the Los Angeles Lakers are still identified by their franchise player Kobe Bryant. By contrast, the Boston
      663 words
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  • GOLF
    • Article, Illustration
      Lock icon My motivator, my friend, my coach
      1348 17  -  The role of a golf coach has changed he now has to work with his student on all aspects of the game. By Justine Moss By Justine Moss WHEN Hank Haney resigned recently as Tiger Wood’s coach, he revealed that for the previous six
      FILE PHOTO  -  1,348 words
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  • MOTORING
    • Article, Illustration
      Lock icon HIGH-SPEED PRACTICALITY
      992 18/19  -  The S5 and Sportback variants have been combined to produce a very fast and roomy Audi. Samuel Ee drives the S5 Sportback as well as the S5 Cabriolet By Samuel Ee samuelee@sph.com.sg FOR a marque that sold just over 500 cars in the first quarter of 2010 and
      992 words
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      Lock icon IN VOGUE
      313 18/19  -  For the ultimate in off-road luxury, the Range Rover Vogue with its new 5.0-litre supercharged V8 engine is hard to beat. By Samuel Ee By Samuel Ee samuelee@sph.com.sg MALAYAN Motors has introduced a new variant of the ultimate in off-road luxury the Range Rover Vogue. The Vogue debuts
      313 words
    • Article, Illustration
      Lock icon WORTH THE WAIT
      696 20  -  The new second-generation Volvo S60 is a major improvement over its predecessor in all areas. By Joe Yeo By Joe Yeo btnews@sph.com.sg TEN years is a long time in the world of motoring. The Volvo S60 first appeared in 2000 as the replacement for the 850 and
      696 words
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