The Business Times, 7 June 2010

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Total Pages: 30
1 30 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|Sl A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 123/08/2009 Monday, June 7,2010
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  • 838 1  -  Last year alone, the number of merging firms rose 57 per cent to 104 By CHEN CHEN HUIFEN [SINGAPORE] Increasingly, the Republic’s SMEs are dropping the “S”. Small and medium enterprises appear to have become more receptive towards mergers over the past few years,
    (as at Feb 28)  -  838 words
  • 158 1 BT ONLINE BT print subscribers get free access to BT Online at www.businesstimes.com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838. MARKETS Weekly Change ST Index 2,806.51 +66.81 KL COMP 1,294.39 +25.23 NIKKEI 225 9,901.19 +138.21 HANG SENG 19,780.07 +13.36 SET INDEX 771.48 +34.20 JAKARTA COMP 2,823.25 +109.33
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  • 662 1  -  By EMILYN YAP [SINGAPORE] Officials assessing the eco-friendliness of buildings need to get used to a jet-setting lifestyle. Besides visiting sites in Singapore, they now have to go overseas to inspect architectural features and compute energy savings. As Singapore’s Green Mark certification gains
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  • Page 1 Advertisements
    • 197 1 BizIT S’pore WAN services market to cross US$1b this year PAGE 30 PROPERTY Meng Garden back on the market PAGE 10 DINING OUT Aussie-style seafood by the quay PAGE 23 VIEWS FROM THE TOP Top execs on their Corporate Family Pledge PAGES 12 13 8 '*****1 *****4 So striking, no
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  • TOP STORIES
    • 565 2 More SMEs taking the merger route SMALL and medium enterprises appear to have become more receptive towards mergers over the past few years, and the trend could continue to grow, suggests data collated by BT and the Accounting and Corporate Regulatory Authority. Last year, the number of merging
      565 words
    • 972 2  -  Letdown on US jobs front dashes hopes for a market turnaround WALL STREET INSIGHT By ANDREW MARKS SO MUCH for looking forward to a week dominated by domestic news on the economy instead of the European sovereign debt crisis. The greatly anticipated
      AFP  -  972 words
    • 569 2  -  Occupancy levels could rise 5-10 percentage points By NISHA RAMCHANDANI [SINGAPORE] With tourist arrivals bouncing back, room rates and occupancy levels at Singapore hotels continue to rise, hosing down worries that the 4,000-plus rooms added by Resorts World Sentosa (RWS) and Marina Bay Sands (MBS)
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    • 464 4  -  They should ask pertinent, searching questions at general meetings By LYNETTE KHOO [SINGAPORE] What better place to instil the right mindset among retail investors than a regional investment conference? Over the weekend at the Asian Investment Conference Exhibition 2010, Singapore Exchange chairman JY
      FILE PHOTO  -  464 words
    • 546 4  -  By WINSTON CHAI [SINGAPORE] Singapore Telecommunications aims to fill the local absence of Apple’s wildly popular iTunes music store with a string of new tie-ups that could more than double the repertoire of its free song download service. “This year, you will see
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    • 636 4  -  By ANTHONY ROWLEY TRADE ministers from the 21 members of the Asia Pacific Economic Cooperation forum (Apec) ended their weekend meeting in northern Japan yesterday with an unusually strong and urgent political statement calling for all-out efforts to get the World Trade
      AFP  -  636 words
    • 353 4  -  By MARTIN HUTCHINSON THE current US recovery is jobless so far. The 431,000 new jobs last month included only 41,000 in the private sector. That looks anaemic, perhaps due to huge federal deficits and a steep yield curve. However it’s too early
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    • 12 4 I db X-MACRO Trading Index Fund I4D 26/05/10 98,90 GBP
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    • 11 4 DB Platinum II FX Select Guaranteed Fund R1D 27/05/10 100,19 USD
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    • 21 4 DB Platinum IV I Balanced Currency Harvest Euro 11C 28/05/10 100,29 EUR Double Joy Capital Guaranteed Fund R1D 27/05/10 9,91 USD
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  • Page 2 Advertisements
    • 119 2 www.futurechina.sg ijA* I FUTURECHm SINGAPORE The FutureChina Global Forum 12-13 July 2010 Ritz-Carlton Hotel, Singapore Platinum Sponsors Strategic Insights for Riding China's Next Decade Featuring insights and analyses from renowned personalities including George Yong-Boon Yeo, Minister for Foreign Affairs, SG Fang Fenglei, Chairman, Flopu Investments Management, PRC Nicholas Lardy, Senior
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  • Page 3 Advertisements
    • 180 3 f v>,, V?:: ••-1 V X t ACQUIRING MEMORIES, NOT POSSESSIONS. WEALTH. WHAT'S IT TO YOU? If wealth to you means acquiring a wealth of experience, then we can help. At Barclays Wealth, we have the expertise to create a tailored investment strategy that has your aims and ambitions at
      180 words

  • Page 4 Advertisements
    • 87 4 BUN n BRAND NEW > Binjai Park *****sqft/7000sqft Good Privacy 25m Lap Pool Renowned Designer* Ask$17.8M PLOT A Binjai Park *****sqft/*****sqft > Flat Squarish Land 46m Frontage Ask $28M PLOT P) > Binjai Park?'0C0sc,t/ '600sqft > Quiet, nor L Charming, ii.-.e Giorey House > Ask $32A': FOR SfiL€ BINJfll PORK
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  • Page 5 Advertisements
    • 23 5 ■4JL- in K. > 1 J w We listen. And we understand that no two stories are alike. www.prudential.com.sg PRLDENTIALlS/ Always listening. Always understanding
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  • SINGAPORE MARKETS
    • 717 6  -  STOCKS R SIVANITHY Senior Correspondent CLEARLY, going by Friday’s action in all the Western markets, the worst is not yet over for equities. Granted, the picture is made hazy by heavy doses of short-selling and the consequent short-covering and we have no doubt
      717 words
    • 494 6  -  COMMODITY WATCH By SOPHIA LAI The writer is an investment analyst CORN and corn products have improved our lives in thousands of ways considering its diverse usage. Other than edible products, corn is also used in the production of plastics, fabric, paper
      494 words
    • 426 6 CURRENCIES Bloomberg [SINGAPORE] Asian currencies declined last week, led by India’s rupee and South Korea’s won, as concern that Europe’s debt crisis will slow the global economic recovery dimmed the outlook for exports and sapped demand for emerging-market assets. Tensions on the Korean peninsula
      Bloomberg  -  426 words
    • 1339 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price Allgreen Properties 2.36 2.00 11 11.10 9.55 1.39 1.06 ARA Asset Mgt 1.75 1.67 4 7.30 13.43 1.23 0.98 Armstrong Industrial Corp 1.00 1.00 2 4.45 8.76
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    • 125 6 BY CENTS CLOSE DOWN DBXT AUDMM 5SG$ *****-632.0 -2.8 DBXT STGLDv100 10US$ 2648-234.1 -5.9 DBXT S&P Short 10US$ 5308-185.0 -2.4 OCBC Bk 5.1%NCPS 100 *****-170.0 -1.6 OUE 1750-150.0 -7.9 OCBC Bk 4.5%NCPS 100 9966-132.0 -1.3 GLD 10US$ *****-114.9 -0.7 DBXT DBLCI-OY 5US$ 3115 -64.5 -1.5 Lyxor Malaysia 10US$ 731
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    • 4 6 WEEKLY
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    • 66 6 Jun 4 VALUE CLOSE BT OB/OS 61.00 +338.0 BT CADI -*****.00 +87.00 BT 10-day MA -*****.00 +6.00 FTSE ST Mid Cap 674.96 +2.37 FTSE ST Small Cap 517.71 +3.90 FTSE ST All Share 690.98 +3.20 FTSE ST China Top 255.57 +0.50 FTSE ST China 283.26 -2.83 FTSE
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    • 59 6 VOLUME Genting SP 618,730,000 Golden Agri 282,693,000 Baker Tech 147,997,000 Noble Grp 141,612,000 Sapphire 134,467,000 Cosco Corp 129,628,000 GMG Global 108,615,000 Z-Obee Hldgs 108,490,000 SingTel 103,930,000 Yangzijiang 85,229,000 VALUE($) Genting SP 642,142,094 DBS Grp 430,673,179 UOB 424,156,988 SingTel 303,021,706 OCBC Bk 275,584,019 Keppel Corp 258,587,064 Noble Grp
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    • 110 6 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 689.7 4.6 JMH 3694 308.4 6.3 DBXT MSKorea 10US$ 4475 302.8 5.1 JSH 2148 266.3 9.7 WesTech 360 240.0 200.0 DBXT FTVietnam 10US$ 4399 224.3 3.8 Jardine C&C 2992 214.0 7.7 Westech Elec 10 346 206.0 147.1 Lyxor India Nifty 10
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    • 87 6 Where S$ stands Jun 4 CHNG YR 2010 CLOSE FR Jun 3 S$ LOW S$ HIGH US$ 1.4023 -0.07 1.4219 1.3680 Euro 1.7126 0.64 2.0153 1.7060 Pounds 2.0578 0.12 2.2831 2.0003 A$ 1.1876 0.46 1.2960 1.1515 Yen* 1.5109 0.06 1.5927 1.4467 Rupiah* 0.***** -0.18 0.***** 0.***** Baht* 4.3007 0.02
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  • Page 6 Advertisements

  • COMPANY NEWS
    • 829 7  -  By OLIVIA HO NOT a few heavily pregnant working women would rather avoid the office to stay home and rest. But not Shenile Teo. “If I’m at home, I’ll just think about feeling sick,” says the director at Great Eastern Life Assurance. “When I
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    • 784 7  -  HOCK LOCK SIEW By R SIVANITHY IN FRIDAY’S column on the plight now facing shareholders of loss-making companies on the Singapore Exchange’s Watchlist such as the now-delisted General Magnetics, it was rightly pointed out that for some companies where the axe has fallen, it is
      784 words
    • 456 9 Remarks come after report said CEO Thiam considering another attempt Bloomberg [HONG KONG] Prudential plc, which aborted the largest acquisition in its 162-year history, doesn’t plan to revive its bid to buy the main Asian unit of American International Group Inc, it said
      Bloomberg; AFP  -  456 words
    • 163 9 A: Annual, E: Extraordinary G: General, S: Special, W: Warrantholders A full list of company meetings is at http://www.businesstimes.com.sg COMPANY MEETING PLACE DATE TIME OUE E Mandarin Orchard Singapore, Mandarin Ballroom III, 6th Floor, Main Tower, 333 Orchard Road, Singapore *****7 16-Jun 10.00am Gems TV Hldgs E RELC
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    • 403 9 Jun 4 BANKS Agricultural Bank Of China 5.5 ANZ Banking Group 6 Arab Bank PLC 5.5 Banco Bilbao Vizcaya Argentaria, S.A. 6 Bangkok Bank 6 Bank Julius Baer Co. Ltd(S) 5 Bank of America NA 5 Bank of China Limited 5.5 Bank of Communications 5.5 Bank of
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  • Page 7 Advertisements
    • 123 7 Importing WE MAKE IMPORTING SIMPLE. Sometimes, one wrong move can undo everything you've done. Why not rely on DHL IMPORT EXPRESS WORLDWIDE to solve your puzzling imports? One company door-to-door. One competitive price. One invoice in one currency. That means fast delivery without excuses or hidden costs. Simple and smart.
      123 words

  • SINGAPORE MARKETS
    • 1455 8  -  TEH HOOI LING Senior Correspondent WHENEVER there is market panic, small cap stocks will suffer the brunt of the selling. Or, it could be that the liquidity is so poor in the small cap sector that it can’t absorb the selling, and as a result,
      1,455 words
    • 1315 8  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Limited THE buying among directors slowed after four straight weeks of heavy activity with 17 companies that recorded 37 purchases worth $10.3 million based on filings on the exchange from May 31
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  • Page 9 Advertisements
    • 112 9 SINGAPORE EXPERIENCE AWARDS RECOGNISING THE BEST IN SINGAPORE EXPERIENCES The world's first night race in our city streets. A wining and dining experience par excellence. An international exhibition that caters to tens of thousands. These Singapore experiences, among many others, are a celebration of the very best that we have
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    • 22 9 Ladies CjentCemen yve cordially invite you To lease or se(Tyour property witH TMTORIO 'FRCYPFRTXj QKOOIT TCease R.S.V.T Warmest Regards, EVA 9634 9769
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  • SINGAPORE NEWS
    • 596 10  -  He says Cheonan sinking dominated discussions at Asia Security Summit By LEE U-WEN AS cross-border tensions continue to escalate in the Korean peninsula over the controversial torpedo attack on a South Korean warship in March, Deputy Prime Minister Teo Chee Hean described the security
      AP  -  596 words
    • 452 10  -  Guide price of $135m is below previous attempt in 2007 By KALPANA RASHIWALA MENG Garden Apartments off Killiney Road is back on the market, this time with a lower price tag than when it was previously offered in July 2007 and with 100 per
      CB RICHARD ELLIS  -  452 words
    • 199 10  -  By ARTHUR LEE COMMUTERS leaving the City Hall MRT station and heading towards the Raffles City Shopping Centre were greeted by a dazzling array of street performers yesterday afternoon. Mime artist Kate Mior and comic juggler and unicyclist Johnny Toronto put up
      ARTHUR LEE  -  199 words
    • 272 10  -  By LYNETTE KHOO THE chief executive of ICAP, the world’s largest inter-dealer broker, has emerged top among an outstanding group of entrepreneurs, clinching the title of Ernst Young World Entrepreneur Of The Year 2010. Michael Spencer, CEO of the UK’s ICAP, was
      272 words
    • 766 10 Payment Ex Books Pay (cts) date close date AIMS AMP Cap Ind Reit ag 0.538 20-May 24-May 28-Jun Amara Hldgs an 0.500 14-Jun 16-Jun 28-Jun Apex-Pal Intl an 0.500 07-Jun 09-Jun 23-Jun Asia Pac Brew aw 14.000 02-Jun 04-Jun 23-Jun Asiatravel.Com aw 0.600 27-May 01-Jun 14-Jun Aspial Corp
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  • Page 10 Advertisements
    • 324 10 UBS (Lux) Key Selection Sicav Investment company with variable capital (Societe d'lnvestissement a Capital Variable) Registered office: 33A avenue J.F. Kennedy B.P. 91, L-2010 Luxembourg R.C. Luxembourg N° B 88.580 Notice of Annual General Meeting of shareholders The shareholders of UBS (Lux) Key Selection Sicav are invited to the Annual
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 1675 11 The real secret sauce for entrepreneurship is the bias to action and the ability to get up and just do it, say speakers with links to MIT This article was first published in April on Knowledge@SMU, an online resource from the Singapore
      STOCK.XCHNG  -  1,675 words
    • 1007 11  -  An overseas internship can be the experience of a lifetime, writes EMIR SHAFRI CAMPUS LIFE EMIR SHAFRI The writer is a final year undergraduate reading a double major in Marketing and Corporate Communications at the Lee Kong Chian School of Busin ess, Singapore Management
      1,007 words
  • Page 11 Advertisements
    • 271 11 Be smart with your finances FANCY becoming the next Warren Buffett or George Soros? Or even the famous Robert Kiyosaki? Then read on. The Young Investors’ Forum, part of the BT-Citibank Tertiary Outreach Programme, isn't another dry page out of your financial textbook. To complement our editorial content, we have
      271 words

  • VIEWS FROM THE TOP
    • 2582 12 THIS WEEK’S TOPIC Corporate Family Pledge: ‘We (your organisation’s name) pledge How would you complete that statement? What are the primary activities supporting that pledge? And if you are ready to share it what is your Personal Family Pledge? Lim Soon Hock Managing Director Plan-B
      ST FILE PHOTO  -  2,582 words

  • Page 13 Advertisements
    • 2019 13 BEATS NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF AMB FENG XIAN 1 PTE. LTD. (IN MEMBER'S VOLUNTARY LIQUIDATION) (COMPANY REGISTRATION NO. *****3377W) NOTICE OF FINAL MEETING Notice is hereby given that pursuant to Section 308 of the
      2,019 words

  • SINGAPORE ARTS FESTIVAL
    • 527 14  -  String Theory’s both enjoyable and cerebral, says CHRISTOPHER LIM CHRISTOPHER LIM MUSIC and particle physics enjoyed an unlikely dalliance during String Theory’s two-night run that ended on Saturday, and before drifting their separate ways, the two disciplines set off enough creative sparks to whet appetites
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    • 671 14  -  By CHEAH UI-HOON “I THOUGHT we were coming to watch a dance,” remarked one gentleman to his friends, after Eonnagata’s opening performance last Friday night the star-studded collaboration between theatre director Robert Lepage, dancer Sylvie Guillem and choreographer Russell Maliphant. The two dancers in this three-way collaboration
      ERICK LABBE  -  671 words
    • 504 14  -  By MELISSA QUEK DANCE and film were successfully merged in last weekend’s dance/film a curated event that attempts to see how far filmmakers and choreographers can come together in a combined work. The results ranged from six-minute short films to 52-minute features that were
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  • Page 14 Advertisements

  • ECONOMY WATCH
    • 818 15 Greenback seen as top safe haven currency despite mounting debt woes AFP [WASHINGTON] With the euro reeling from a budget crisis and the yen tarnished by political turmoil, the US dollar is stamping its mark as the top safe haven and international reserve
      AFP; BLOOMBERG  -  818 words
    • 684 15 US seeks to beef up domestic demand, EU to curb budgets Bloomberg [BUSAN, South Korea] European Central Bank president Jean-Claude Trichet and Treasury Secretary Timothy Geithner diverged on prescriptions to sustain growth, with Europe set to tighten budgets and the US seeking stronger domestic demand.
      Bloomberg  -  684 words
    • 498 15 Reuters [BUSAN] Europe is close to completing stress tests on its banks to gauge their ability to withstand a market slump and the results should be published to help restore market confidence, top European Central Bank officials said on Saturday. Washington
      Reuters  -  498 words
    • 328 15 Reuters [ISLAMABAD] Pakistan’s economic growth rose to 4.1 per cent in the financial year ending June 30, helped by exports, remittances and a downward revision to the previous year’s data, the Finance Ministry said on Friday. The rate of expansion compared to 1.2 per
      Reuters  -  328 words
    • 416 15 AFP AP [MESEBERG, Germany] German Chancellor Angela Merkel hit back on Saturday at criticism that Europe was threatening growth by slashing spending, saying deficits had to be cut in the wake of the Greek crisis. “(For) the government and for Germany, the issue of not having
      AFP; AP  -  416 words
    • 375 15 Bloomberg [SEOUL] South Korea’s economy expanded at a faster pace than initially estimated last quarter as exports surged and domestic demand strengthened. Gross domestic product rose 2.1 per cent from the previous three months, compared with an April estimate of 1.8 per cent,
      Bloomberg  -  375 words
  • Page 15 Miscellaneous

  • MALAYSIA/INDONESIA
    • 698 16  -  Those who underestimate his attempt to bring change could be taken by surprise MALAYSIA INSIGHT PAULINE NG KL Correspondent MALAYSIA’S Prime Minister Najib Razak is keeping his cards close to his chest as to what parts of the New Economic Model (NEM) he
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    • 577 16 AFP [KAWAH IJEN, Indonesia] A thick, acrid smoke stings his eyes but Bambang presses on down the side of Indonesia’s Kawah Ijen volcano, bending under the weight of the sulphur he carries on his shoulders. To avoid the highly toxic gas, the
      AFP; AFP PHOTOS  -  577 words
    • 2046 16 VOL Jun 4 RM +/-(‘000) A M Realty 0.53 unch 0 Abric Bhd 0.18 0.01 17 Advance Synerg 0.14 unch 56 Adventa Bhd 3.10 -0.01 102 Ae Multi Hldgs 0.52 -0.02 262 Affin Holdings 2.98 0.07 3531 Ahmad Zaki Res 0.77 -0.02 69 Aic Corp 0.67 unch 0
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    • 504 16 [KUALA LUMPUR] Newly appointed Petronas chief executive Shamsul Azhar Abbas, in outlining the direction forward for the national oil company under his stewardship, said that more investment at home will energise the domestic oil and gas industry, while at the same time non-core
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  • Page 16 Advertisements
    • 23 16 tk Lianhe Zaobao Economic recovery has helped textile S-chip firms out of the doldrums asfs&sfjaIT To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • INVESTING IN INDIA
    • 1030 17  -  With a smart economic recovery and growth-hungry sectors, India offers vast opportunities to investors, reports AMIT ROY CHOUDHURY AMIT ROY CHOUDHURY COMPARISONS between the two behemoths India and China are inevitable. Both countries are in Asia and both are vital as engines of growth, not only
      AFP  -  1,030 words
  • Page 17 Advertisements
    • 416 17 FICCI India Singapore Trade Investment Business Forum JUNE 7, 2010, HOTEL SHANGRI-LA. SINGAPORE Federation of Indian Chamber of Commerce Industry KEY NOTE SPEAKER Shri Kamal Nath, Hon'ble Minister for Road, Transport Highways, Government of India ABOUT THE FORUM The Federation of Indian Chambers of commerce Industry (FICCI) and the Indian
      416 words

  • GREATER CHINA/INDIA
    • 431 18 AP [BEIJING] The state-owned Agricultural Bank of China plans to sell a 15 per cent stake in what could become the world’s largest initial public offering, China’s securities regulators said. The China Securities Regulatory Commission posted the bank’s application online on Friday and
      AP; REUTERS  -  431 words
    • 547 18 Country seen as a draw because of market gaps and buoyant economy AFP [MUMBAI] Foreign banks have been in India for more than 150 years but more overseas lenders are now queuing up to set up operations, amid signs that tough restrictions on
      AFP  -  547 words
    • 415 18 AFP [BUSAN, South Korea] US Treasury Secretary Timothy Geithner urged China on Saturday to let the yuan appreciate as a critical part of its economic reforms. Mr Geithner, speaking after a Group of 20 finance ministers meeting, said the grouping had discussed
      AFP  -  415 words
  • Page 18 Advertisements
    • 345 18 E rv r m Flag Off Singapore Flyer Sunday, 18 July 7.30am Open To Only 20,000 W So hurry, sign up and be among the 20,000 to walk through some of Singapore's latest landmarks and sights! Big Wak marina bay r PRESENTED 4 Fair Price i i>s iIS t V
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  • ASIA-PACIFIC
    • 662 19 Economy starting to recover but upswing has yet to reach the broader economy AFP [TOKYO] In his first speech after taking charge of the world’s second-biggest economy last week, Japan’s new Prime Minister Naoto Kan identified his biggest challenge: ending two decades
      AFP  -  662 words
    • 603 19 AFP Reuters [MANILA] With less than a month before she steps down, President Gloria Arroyo on Friday said she wanted to be remembered as the leader who modernised the Philippine economy. The 63-year-old grandmother and former economics professor said she looked forward
      AFP; Reuters  -  603 words
  • Page 19 Advertisements
    • 3420 19 WATS NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF MANDARIN NOMINEES PTE. LTD. (Company Registration No. *****0755D) (In Member's Voluntary Liquidation) At an Extraordinary General Meeting of the Company duly convened and held at 80 Raffles Place UOB
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  • WORLD
    • 686 20 Polls set stage for Nov races that could determine power balance in Congress AP [LOS ANGELES] Primary elections in 12 states tomorrow will gauge the extent of voter anger and the desire for change. The contests that will decide the fate of
      AP  -  686 words
    • 738 20 Reuters [NEW YORK] The decision of Goldman Sachs Group Inc not to tell shareholders that US regulators might sue the bank over a sub-prime mortgage-linked security could cause other companies to rethink the way they handle regulatory investigations. The investment banking powerhouse
      Reuters  -  738 words
    • 85 20 [PARIS] A fibreglass sculpture inspired by the Fiat 500C model and containing a planted tree, by Italian architect and designer Fabio Novembre, is on exhibition at the prestigious Place Vendome in Paris. The exhibition, named ‘Un Arbre pour l’Espoir’ or ‘A Tree for Hope’, will be
      AFP  -  85 words
    • 343 20 Reuters [GENEVA] The eurozone is facing a period of zero growth if not recession, and the US is heading for financial trouble, US economist Nouriel Roubini was quoted as saying on Saturday. There was a risk of renewed recession in Europe, Prof Roubini said in
      Reuters  -  343 words
    • 365 20 Reuters [LONDON] British Prime Minister David Cameron has signalled that growth forecasts would be revised down while welfare bills and public sector pay would be high on the target list for spending cuts, The Sunday Times reported. The newspaper quoted Mr
      Reuters  -  365 words
    • 485 20 AP [GENEVA] The Swiss government is hoping to rid itself of a long-running headache over banking secrecy tomorrow when lawmakers are expected to approve a treaty to hand files on thousands of suspected tax cheats to US authorities. A standoff
      AP  -  485 words
    • 501 20 The success heralds a new era of cancer ‘immunotherapy’ Reuters [CHICAGO] Bristol-Myers’ experimental drug ipilimumab is the first to extend lives in patients with advanced melanoma, and its success heralds a new era of cancer “immunotherapy” drugs that enlist the help of the immune system
      Reuters  -  501 words

  • FOCUS: OIL SPILL
    • 997 21 Tony Hayward says he’s not worried that he might be prosecuted as a result of a US criminal probe into the worst US oil spill Reuters Bloomberg [LONDON] BP chief executive Tony Hayward has said that he is not thinking of quitting despite the outcry
      Reuters; Bloomberg; AP  -  997 words
    • 1466 21 NYT [NEW ORLEANS] Over six days in May, far from the familiar choreography of Washington hearings, federal investigators grilled workers involved in the Deepwater Horizon disaster in a chilly, sterile conference room at a hotel near the airport here. The six-member panel
      NYT; REUTERS  -  1,466 words
    • 570 21 Investors less likely to accept oil companies’ assurances at face value Reuters [LONDON] BP plc’s Gulf oil spill has damaged investor trust and paved the way for a more critical view of the activities of oil companies as risks grow in
      Reuters  -  570 words

  • AVIATION/SHIPPING
    • 503 22  -  It says India is the ‘Jewel in the Crown’ as the country opens up its defence sector By VEN VEN SREENIVASAN [SINGAPORE] Faced with slumping demand and budget cuts in the United States, American aerospace giant Boeing’s defence arm is looking to Asia
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    • 347 22  -  Director general to make state of industry address By VEN SREENIVASAN [SINGAPORE] Berlin will be the world’s aviation capital today and tomorrow as the city hosts 600 industry leaders for the 66th Iata Annual General Meeting and World Air Transport Summit. The summit, which
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    • 615 22 Reuters [CHICAGO] The pending marriage of United Airlines and Continental Airlines leaves US Airways Group and American Airlines logical partners with their survival possibly at stake. While the pairing would not be perfect, an alignment of their operations would give premium busi- ness
      Reuters; REUTERS  -  615 words
    • 2953 22 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ457 1230 SQ456 1250 EY473 1950 Adelaide LH9771 1745 LH9770 2350 SQ268 1745 SQ269 2350 VS7268 1745 VS7269 2350 VS7279 2350 Amsterdam LO4031 0605 LO4032 2345 SQ323 0605 SQ324 2345 US5410 0605 US5411 2345 AZ3992 1525 KL835 1525 Athens
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    • 278 22 SGX '000 Jun 4 S$ +/-Vol CH Offshore 0.52 -0.01 512 Chuan Hup Hldg 0.27 0.01 9 Cosco Corp 1.44 0.04 ***** CWT Ltd 0.90 0.03 1577 Ezra Hldgs 1.83 0.04 9987 First Ship Lea 0.46 0.01 502 Freight Links 0.06 0.01 8210 Grand Banks unch unch 0
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    • 287 22 Bloomberg [LONDON] The cost of shipping Middle East crude oil to Asia, the world’s busiest route for supertankers, rose the least last week as demand slowed before an industry exhibition. Charter rates for very large crude carriers, or VLCCs, hauling two
      Bloomberg  -  287 words
  • Page 22 Miscellaneous
    • 331 22 CRYPTIC CROSSWORD Across 1 Give up office plan after initial change (6) 4 A factor in trouble around wife, end to peace? (3,2,3) 9 Smart support in back of hostelry (6) 10 Excellent part of tennis player’s repertoire? (8) 11 Very unlike vermouth? On the contrary (3,4,2) 13 Backing of
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  • DINING OUT
    • 630 23  -  By Cheah Ui-Hoon NEW RESTAURANT Fremantle Seafood Market #01-05/06 Clarke Quay 3E River Valley Road Tel: 6337-1838 www.creativeeateries.com.sg THE ambience of Clarke Quay is most suited to seafood eateries, so it’s a surprise that not more are found among the eateries there. That should
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  • Page 23 Advertisements
    • 160 23 V m I \t \W www.radio913.com w w I I > WINE DINE AND HOSPITALITY i/ K Eat-Ait- You-Com, Cantonese Cuisine Captain's Table Adult: $23.80 Child: $16.80 Dinner only (Weekdays) Adult: $28.80 Child: $18.80 Dinner only (Weekends) Menu Highlights Crystal Prawns Braised Sliced Abalone with Vegetables Stir-fried Sliced Beef with
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    • 1 23 www.omy.sg
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  • SINGAPORE STOCKS
    • 9250 24 Week ended: Jun 4 52-wks Tel Last Vol Week Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 18 6.5 3148 8Telecom 14.5 unch 433 15 14.5 14.5 15 1.7 12.5 4.7 69.4 10 5.5 5834 A-Sonic
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    • 1983 25 52-wks Tel Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 10 5 1181 t AA Grp 6 -0.5 10 6 6 5.5 7 33.3 5.8 25 13 8538 t APStrategic 16 -3
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    • 113 25 Stock name Close Change CapMallsAsia 2.140 CapitaLand 3.600 CapitaMall 1.850 -0.020 CityDev 10.640 +0.140 ComfortDelGro 1.420 +0.010 DBS Grp 13.780 +0.100 F&N 4.850 -0.050 Genting SP 1.030 -0.020 Golden Agri 0.505 HK Land 4.950 -0.130 Stock name Close Change JMH 36.940 +0.840 JSH 21.480 +0.680 Jardine
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    • 2692 25 Transaction date: Jun 4 For a full listing of the closing prices, log on to BT online at http://business-times.asia1.com.sg after 11.30pm every trading day HONG KONG Vol HK$ +/-'000 Aeon Credit 6.30 unch 2 Aeon Stores 11.80 unch 0 Angang Steel 10.06 -0.44 ***** Anhui Conch 24.65 -0.60
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    • 186 25 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 11 4 1 0 0 0 11 4 1 Manufacturing 116 50 65 9 10 18 125 60 83 Commerce 46 10 21 11 4 2 57 14 23 Tpt/Stor/Comms 30 11 4
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    • 771 25 52-Wk Tel Last Vol Week Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 116 107 6389 ABF SG Bond ETF 115 -1 14 116 115 109 115 525 883 610 CIMBAsean40 100US$ US819 +24 714 824 764
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    • 78 25 52-Wk Tel Last Vol Week Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 27 6000 AVJennings A40 -2 3 40 40 37.5 45 3.6 8.8 3.2 104.2 31 13 6017 Genting HK US$ US17 -0.5 *****
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    • 123 25 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 87,373 87,373 380,093 380,093 Manufacturing 1,164,355 72,548 1,236,903 1,040,108 2,288 1,042,396 Commerce 413,349 27,117 440,466 597,022 6,993 604,015 Tpt/Stor/Comms 532,281 1,045 533,326 971,938 123 972,061 Finance 122,170 124 122,294 1,285,060 13 1,285,073 Construction 105,509 141,644
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  • Page 25 Advertisements
    • 26 25 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES
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  • FINANCE & COMMODITIES
    • 374 26 In local curr In S$ In US$ dy yr dy yr dy yr Jun 4 Index Change Change Change Change Change Change World Index Preliminary 794.7 -1.7 -4.5 -1.5 -8.0 -2.0 -8.5 EAFE Preliminary 734.0 -1.4 -6.5 -1.6 -14.4 -2.1 -14.9 Europe Preliminary 1044.9 -2.1
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    • 177 26 Jun 4 $S Offer Bid Overnight 1/8 1/16 1-month 3/8 1/8 2-months 7/16 3/16 3-months 9/16 5/16 Overnight mode: 3/8 US$ Offer Bid 7 days 0.45 0.35 1 month 0.60 0.40 2 months 0.65 0.45 3 months 0.70 0.50 6 months 0.90 0.70 9 months 1.10 0.90 12
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    • 24 26 Jun 4 S$ Bid Offer 1-month 1.4017 1.4029 2-months 1.4015 1.4028 3-months 1.4013 1.4026 6-months 1.4010 1.4023 Source: OCBC Source: OCBC
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    • 161 26 Jun 4 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Jun 10 358.5 350.0 358.5 6 Jul 10 325.0 325.0 325.0 7 Aug 10 307.0 307.0 307.0 12 Sep 10 305.0 305.0 305.0 5 Oct 10 298.0 293.0 298.0
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    • 92 26 Jun 4 Jun 4 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 02.09.2010 0.30 1-Year BY*****W 03.05.2011 0.37 0.34 0.34 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0A 2.625 01.04.2012 103.88 103.9 103.88 5-Year N*****0N 1.375
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    • 105 26 Jun 4 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 10 935.00 955.00 958.25 931.50 Aug 10 918.50 937.75 941.00 916.00 Sep 10 905.75 925.75 926.50 903.50 Nov 10 900.00 919.75 921.00 895.25 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Jul 10 36.78 37.66 37.75
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    • 77 26 CRUDE OIL PRODUCTS Jun 3 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 74.51 0.40 WTI (Near Mth) 74.42 0.83 Dubai (1-Mth F) 74.49 2.44 Tapis blend 79.50 2.30 Minas 77.00 2.40 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 73.33 2.44 Jet Kerosene 85.70 2.40 US$/barrel Opec Oil
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    • 2464 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 3.5 -0.5 755 1 15 16 4.57 47 4085 ASJ Hldgs W*****1 3 unch 30 1 4 2.33 20 2036 Advance SCT Ltd W*****9 0.5 1
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    • 132 26 Jun 4 As at 9am Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.1750 1.2110 Can dollar 1.3420 1.3580 Euro 1.7000 1.7200 NZ dollar 0.9530 0.9740 Sterling pound 2.0440 2.0670 US dollar 1.3960 1.4120 Local dollars to 100 units of foreign
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    • 27 26 Jun 4 Open High Sett STI Jun 2804 SIMSCI Jun 329.7 334.1 331.9 Taiwan Jun 261.3 262.6 260.4 Source: MF Global (S) Pte. Ltd
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    • 6009 27 BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com CR NO. **********0W UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN New Orleans/Camden *Loads E./W.
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    • 74 26 Jun 4 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
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    • 365 26 Jun 4 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Jun10 99.4425 0 2880 Sep10 99.2550 0 2215 Dec10 99.0700 0 1009 Mar11 98.8900 0 1024 EUROYEN TIBOR FUTURES Jun10 99.6125 99.6125 99.6125 99.6125 1764 4153 Sep10 99.6375 786 3346 Dec10 99.6425 0 1461 Mar11 99.6350 99.6350
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    • 466 26 Jun 4 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.880 5.780 0.694 6.595 39.463 77.818 0.785 10.171 2.772 1.235 72.232 39.163 1.187 6.482 0.977 27.373 27.580 0.578 0.846 Canada 1.137 6.569
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    • 85 26 Jun 4 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 1.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 154 26 Jun 4 Against S$ 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
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    • 142 26 GOLD (US$/oz) Jun 04 Jun 03 Hong Kong 1205.60 1222.80 Jun 03 Jun 04 London 1216.75 1204.25 1217.75 1205.25 Source: Thomson Reuters CAST BAR Jun 04 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 130.54 55 5gm 371.29 273 10gm 663.4 545 20gm
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    • 69 26 Jun 4 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1849.25 1923.50 3 months 1881.00 1955.00 Copper, Grade A (US$/tonne) Cash 6249.00 6495.00 3 months 6280.00 6525.00 Lead (US$/tonne) Cash 1582.50 1618.50 3 months 1607.00 1645.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
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    • 82 26 Jun 4 COCOA (£/tonne) Close Prev High/Low Jul 10 2559 2550 2606/2553 Sep 10 2347 2400 2421/2342 Dec 10 2286 2341 2360/2277 Mar 11 2238 2298 2322/2238 COFFEE (US$/tonne) Close Pev High/Low Jul 10 1336 1346 1346/1327 Sep 10 1372 1382 1381/1363 Nov 10 1398 1405 1406/1386 Jan 11
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  • Page 27 Advertisements
    • 29 27 Shipping line: seeking reliable logistics partners Can they find your services Here in -the Shipping TO ADVERTISE, CA.LI IOE WONG AT 9620 1 327 THE BUSINESS TIMES SHIPPING TIMES
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  • Page 28 Advertisements
    • 18 28 Legal services required by shippers owners 10 ADVERTISE, Can they find your services here in the Shipping Times?
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    • 33 28 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE BUSINESS TIMES SHIPPING TIMES FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Timoc^
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  • BizIT
    • 973 30  -  Analysis from Frost Sullivan shows that newer generation services are outperforming legacy systems which are on the wane, reports AMIT ROY CHOUDHURY AMIT ROY CHOUDHURY THE WAN (wide area network) services market in Singapore is expected to grow by 9.6 per
      973 words
    • 788 29  -  S’pore PC growth to be lower than global average in 2010, says Gartner By RAJU CHELLAM THE boom seems to be back in the personal computer market, with robust demand from consumers and companies. On a global level, more than 375 million PCs worth
      REUTERS  -  788 words
    • 770 29  -  <you say> By TAN YUH WOEI The writer is Singapore Country Manager for Symantec Corporation WE have seen a renewed focus on cybersecurity amid increasing media reports on cyber attacks and incidents. More than ever, governments, businesses and the public are keeping a close watch
      770 words
    • 332 29  -  By JASLENE PANG SOUTH-EAST Asians are increasingly consuming online media on the go, according to the second annual Net Index Study by Yahoo! And Ken Mandel regional vice-president of advertising sales and marketplace for Yahoo! reckons Singapore can benefit from
      332 words
    • 733 29  -  By AMIT AMIT ROY CHOUDHURY WHILE Apple’s iPad is expected to hit Singapore stores in July, a relatively less-known competitor, the joojoo is already available here since the last week of May. More interestingly, the 12.1-inch, stylishly designed joojoo tablet, has been developed
      733 words
    • <what’s up>
      • 58 29 INTERNATIONAL Telecommunications Union (ITU) secretary-general Hamadoun Toure will speak at the Distinguished Infocomm Speaker Series, organised by the Infocomm Development Authority of Singapore, on June 8 at Suntec convention and exhibition Centre. Dr Toure’s address on the subject “Broadband Paving the Way” will
        58 words
      • 71 29 TOSHIBA has launched two new gadgets dynadock U and dynadock V universal USB docking stations and Camileo S20 and X100 camcorders. The docking stations are said to be a more convenient way to stay connected with multiple accessories like mouse, keyboard and printers with one
        71 words
      • 81 29  -  Compiled by JASLENE PANG IT distributor Transition Systems will hold a Transition Infrastructure Forum for enterprise IT end-users on June 10. The event will culminate in a panel discussion on the topic “Network Overload Is it safe to head for the cloud?”. It will
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  • Page 30 Advertisements
    • 191 30 Big decisions follow you around. \Y/ V&gt;V e m ayadd value to the business w£ ose control At Grant Thornton, we understand that the big decisions you have to make are sometimes difficult, often finely balanced, always with you. Whether it be planning for the future or staying competitive in
      191 words
    • 8 30 YOU SAY On the cybersecurity front Page 29
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