The Business Times, 10 June 2010

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Total Pages: 30
1 30 The Business Times
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  • Title Section
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    23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 123/08/2009 Thursday, June 10,2010
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  • Article, Illustration
    Lock icon MBS used us to speed up licences, claims IPBA
    648 1  -  It says venue was in poor shape but IR wanted to host event featuring VIPs By ARTHUR SIM [SINGAPORE] The Inter-Pa-cific Bar Association (IPBA) has accused Marina Bay Sands (MBS) of misrepresenting a “complete disaster” as a world-class venue. It also
    FILE PHOTO  -  648 words
  • Article
    Lock icon MARKETS DIGEST
    142 1 ST INDEX 2,745.80 (-0.81) ST INDEX FUTURES 2,746 (-1) SIMSCI 322.86 (-0.54) SIMSCI FUTURES 323.20 (+0.60) FOREX US$ S$ US$ (S$ per US$) 1.416 (US$/S$ per 1.445 2.046 EURO (US$/S$/E) 1.195 1.692 Foreign currency per US$ S$ YEN 91.40 64.50 RM 3.314 2.341 HK$ 7.800 5.509 BAHT 32.60
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  • Article
    Lock icon Strikes, pay hikes may spell change for China
    830 1  -  Factories may move inward from coastal regions, other countries to gain share of pie By CHEN HUIFEN [SINGAPORE] Another strike. Another wage hike. Another threat. As labour unrest spreads through China’s factories, it is threatening to change manufacturing dynamics in the country
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      43 1 BizIT Broadband investments pay for themselves: ITU chief PAGE 26 AVIATION Jetstar’s long-haul airline takes flight in S’pore PAGE 4 SINGAPORE INTERNATIONAL Africa: an emerging market in the making PAGE 11 Staying true to Emily of Emerald Hill SINGAPORE ARTS FESTIVAL PAGE 10
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      2 1 *****1 *****4
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      105 1 iltilif m 5u^ry2<3r£> 77u_ It takes months to handcraft a Bentley. It takes just 3.9 seconds for you to hit iookm/h in the new Continental Supersports. Powered by a potent twin-turbo W12 engine that delivers a top speed of 329km/h in a heartbeat. This awe-inspiring supercar embodies all the refined
      105 words
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  • TOP STORIES
    • Article
      Lock icon Economists forecast 9% growth for S’pore this year
      496 2  -  Forecast from MAS’s latest survey hits the upper limit of govt’s 7-9% range for 2010 By TEH SHI NING [SINGAPORE] Economists now expect Singapore to grow a stronger 9 per cent this year, predicting larger jumps in manufacturing, exports and wholesale retail
      496 words
    • Article, Illustration
      Lock icon Office prices set to rise over next 12 months: JLL
      872 2  -  By KALPANA RASHIWALA [SINGAPORE] The Republic’s prime office capital values are poised to rise over the next 12 months in anticipation of rental increases. This is fuelling interest among overseas investors in the Singapore office market, says Jones Lang LaSalle.
      FILE PHOTO  -  872 words
    • Article
      Lock icon Wilmar unit under tax probe
      279 2 Reuters [JAKARTA] The Indonesian unit of Wilmar, the world’s largest listed palm oil firm, said yesterday that the country’s tax office has started an investigation into 12 subsidiaries on its 2007-2008 tax report. “The investigation started about three weeks ago,” said Henri Saksti, president director
      Reuters  -  279 words
    • Article
      Lock icon Fortis gearing up for a takeover battle?
      582 2  -  Plan to raise 27.5b rupees hints it may counter Khazanah By NISHA RAMCHANDANI [SINGAPORE] Fortis Healthcare is planning to raise 27.5 billion rupees (S$830 million) by issuing securities, fuelling speculation that the Indian group is gearing up for a takeover battle by boosting
      582 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      600 2 Strikes, pay hikes may spell change for China AS labour unrest spreads through China’s factories, it is threatening to change manufacturing dynamics in the country and across much of Asia. Yesterday, the Shenzhen government announced that the minimum monthly wage in the southern Chinese city will go up
      600 words
    • Article, Illustration
      Lock icon Buoyant outlook for Africa’s economic growth
      618 4  -  GDP last year up 2.5%, the only continent to record a positive growth Reports by LEE U-WEN [SINGAPORE] The World Cup starts tomorrow in South Africa and the continent could be the real winner. While Africa has long been regarded as a “laggard” in
      AP  -  618 words
    • Article, Illustration
      Lock icon Jetstar’s long-haul airline takes flight in Singapore
      293 4  -  By CHAN YUPING [SINGAPORE] Jetstar launched Singapore’s first long-haul, low-fare airline yesterday, offering two-class services direct to Melbourne and Auckland on new Airbus A330-200 planes. It hopes to attract the growing number of Singaporeans who study in Melbourne or Auckland, as well as
      293 words
    • Article
      Lock icon Africa may excite, but Spain could win
      367 4 [SINGAPORE] With just over 24 hours to go before South Africa kick off their World Cup campaign against Mexico in the opening match, some fans and football analysts are pondering the distinct possibility that the tournament’s eventual winner could hail from Africa. As
      367 words
    • Article
      Lock icon Korea jobs, loans soar; steady rates seen
      535 4 Reuters [SEOUL] South Korea’s jobs gains and bank lending scaled multiyear peaks in May, adding to evidence of robust recovery, yet markets expect the central bank to hold fire on rates this week because of concerns about Europe’s debt woes. Asia’s fourth-largest economy
      Reuters  -  535 words
    • Article
      Lock icon KL mulling over new parliament building
      201 4 [KUALA LUMPUR] Malaysia may build a new parliament complex at a cost of RM800 million (S$340 million) in the administrative capital of Putrajaya, the Star newspaper reported on its website, citing Minister in the Prime Minister’s Department Nazri Abdul Aziz. The existing parliament building
      201 words
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      256 3 N A M E S cm I fr MacRitchie Reservoir Park National Junior College kg Raffles Girls' L Pri Sch BUKIT TIMAH RD 1 m i r U Raffles Girls Sch Tangs Shopping Centre The Paragon ORCHARD RD (u/c): Future Downtown Line MRT Stations Wisma Atria NgeeAnn 1 City Come
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  • Page 5 Advertisements
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      21 5 We listen. And we understand that no two stories are alike. PRUDEISTTIAL1% 1800 333 0 333 www.prudential.com.sg Always listening. Always understanding.
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  • COMPANY NEWS
    • Article
      Lock icon UOB launches $5 billion debt programme
      536 6  -  This debt-issuing facility allows UOB to tap debt markets outside the US By CONRAD TAN UNITED Overseas Bank (UOB) has set up a euro me-dium-term note programme, a debt-issuing facility that allows it to borrow up to $5 billion in various currencies and at
      536 words
    • Article
      Lock icon Samudera adds a vessel to Kolkata
      287 6 SAMUDERA Shipping Line has added a vessel to its Kolkata-Haldia Express service to meet growing demand for cargo to and from Kolkata. The new gearless vessel, which has a capacity of 629 twenty-foot equivalent units (TEU), allows the container shipping line to improve its
      287 words
    • Article
      Lock icon C20 hopes to keep its eye on Mid-East after Swissco merger
      521 6  -  It’s open to looking at new markets such as South-east Asia By JAMIE LEE C2O Holdings expects to remain focused on the Middle East market after a proposed merger with main-board-listed Swissco International, in what would be the first
      521 words
    • Article
      Lock icon BNP Paribas now SGX derivatives clearing member
      176 6 BNP Paribas Securities Services has become a clearing member of the Singapore Exchange derivatives market. With this admission, the SGX derivatives market now has 26 clearing members and 30 trading members while the SGX securities market has 26 clearing members and 26 trading
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    • Article
      Lock icon GYP invests in mobile payment company
      228 6 GLOBAL Yellow Pages (GYP) has dialled into the nascent market for mobile payments under its plan to diversify beyond telephone directories and business listings. The company yesterday announced that it has struck an agreement with Australia-based QPay to invest in its local subsidiary. Under
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    • Article, Illustration
      Lock icon Trading speed vital but beware of pitfalls
      871 6  -  HOCK LOCK SIEW By LYNETTE KHOO SPEED is of the essence in the highly competitive securities trading arena. To meet the challenge, the Singapore Exchange (SGX) has unveiled a plan to create the world’s fastest trading engine to facilitate high-frequency trading. The new
      BLOOMBERG  -  871 words
    • Article
      Lock icon Yanlord Land, GIC unit in US$300m JV
      363 7  -  Move to develop a residential project in Chengdu By UMA SHANKARI CHINA-BASED Yanlord Land has teamed up with the real estate unit of Government of Singapore Investment Corp (GIC) to set up a US$300 million company to develop a residential project in Chengdu.
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    • Article, Illustration
      Lock icon Heeton launches new Grange Rd condominium
      486 7  -  All 30 iLiv@Grange units available; Lumos to be relaunched By UMA SHANKARI HEETON Holdings plans to start construction of its new Grange Road condominium iLiv@Grange by September this year, chief operating officer Danny Low said at the project’s unveiling yesterday. The company also intends
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    • Article
      Lock icon PLife Reit expands in Japan
      472 7  -  It acquires 6 new properties for 3.9b yen By LYNETTE KHOO PARKWAY Life Reit (PLife Reit) has strengthened its foothold in Japan. The healthcare trust, whose $1.15 billion portfolio includes private hospitals in Singapore, announced yesterday the acquisition of six new nursing home and care
      472 words
    • Article
      Lock icon FSL Trust shares sink over seized ships
      382 7  -  By JAMIE LEE SHARES of First Ship Lease (FSL) Trust slumped as much as 11.4 per cent yesterday on news that a second vessel it owns has been seized by a creditor because the lessee allegedly failed to make payment for bunkers supplied
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    • COMPANY BRIEFS
      • Article
        Lock icon Mermaid Maritime’s MD resigns
        130 7 MERMAID Maritime’s managing director David Stewart Simpson has resigned to pursue personal and other professional interests. Mr Simpson, 50, will step down on July 25. He has served as MD for four years. The search and selection process for a replacement managing director has commenced, said
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      • Article
        Lock icon Litigation by Cascal shareholder
        55 7 A SHAREHOLDER of Cascal NV has commenced litigation against Sembcorp Industries in the US District Court for the Southern District of New York, alleging that Sembcorp failed to disclose material information in its tender offer materials. Sembcorp said “it believes the allegations of the complaint are
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      • Article
        Lock icon Petra Foods proposes share placement
        50 7 PETRA Foods is proposing to issue up to 65.74 million new ordinary shares via a placement. The placement price shall be at a discount of not more than 10 per cent to the volume weighted average price of $1.20 for trades done on SGX yesterday.
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    • Article
      Lock icon S&P lowers rating on Bharti Airtel
      178 7 RATINGS agency Standard Poor’s (S&P) has lowered Singapore Telecommunications associate Bharti Airtel’s long-term credit ratings from BBB- to BB+ following the completion of its US$10.7 billion deal with Kuwait’s Zain Group. S&P said in a statement yesterday that it expects Bharti’s leverage and cash-flow
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      115 6 Looking for a Payroll Partner who... Understands your needs concerns Provides dedicated holistic support Gives you peace of mind Is technically competent SSSJ At PayrollServe, we manage the Payroll outsourcing HR administration of hundreds of MNCs and SMEs in Asia. We also provide user-friendly payroll systems PayDayl and eACCPAY, that
      115 words
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      10 6 Do we really need a new trading engine? Page 19
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  • Page 6 Miscellaneous
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      621 7 Parkway Holdings INTEGRATED HEALTHCARE HOLDINGS A Notice for all shareholders of Parkway Holdings Limited ("Parkway") from Integrated Healthcare Holdings Limited ("Integrated Healthcare") OFFER DOCUMENT OF INTEGRATED HEALTHCARE'S PARTIAL OFFER FOR PARKWAY HAS BEEN DESPATCHED Some facts about the Partial Offer: Offer Price is SS3.78 in cash for each Parkway share
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Late sell-off for stocks again
      559 8  -  Local market swings in tandem with regional markets, as players look to Western bourses STOCKS R SIVANITHY Senior Correspondent SENTIMENT in the local stock market swung between greed and fear yesterday, reflecting the sentiment in other regional markets, as players tried to figure out how
      Source: Bloomberg  -  559 words
    • Article, Illustration
      Lock icon STRAITS TIMES INDEX
      4 8 DAILY
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      66 8 Jun 9 VALUE CLOSE BT OB/OS 492.00 +402.0 BT CADI -*****.00 -60.00 BT 10-day MA -*****.00 +49.00 FTSE ST Mid Cap 666.14 -0.38 FTSE ST Small Cap 505.37 -1.17 FTSE ST All Share 676.87 -0.31 FTSE ST China Top 248.14 -1.65 FTSE ST China 280.57 +1.08 FTSE
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    • Article
      Lock icon MOST ACTIVE STOCKS
      57 8 VOLUME Genting SP 83,538,000 RafflesEdu 68,885,000 Golden Agri 63,484,000 Teledata 26,383,000 Healthway 23,690,000 Noble Grp 19,542,000 GMG Global 19,218,000 SingTel 18,739,000 Baker Tech 18,464,000 NOL 16,186,000 VALUE($) Genting SP 86,052,030 DBS Grp 77,424,312 SingTel 54,175,904 UOB 48,201,340 Keppel Corp 35,609,520 Noble Grp 34,673,810 Parkway Hldgs 33,217,090 CapitaLand
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 7 5 0 0 0 4 7 5 Manufacturing 39 50 71 3 3 13 42 53 84 Commerce 13 20 24 3 4 3 16 24 27 Tpt/Stor/Comms 8 17 13
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    • BROKERS’ TAKE
      • Article, Illustration
        Lock icon Oil & Gas Sector
        426 8 Oil Gas Sector GULF of Mexico oil spill fewer rigs impacted than earlier estimate: According to news reports and the US Minerals Management Service, US President Obama’s six-month offshore drilling moratorium in the Gulf of Mexico (GOM) is expected to shut down 25 active operations, including nine rigs that have
        Source: Bloomberg  -  426 words
      • Article
        Lock icon Olam International
        372 8  -  Compiled by JAMIE LEE June 9 close: S$2.50 DBS Vickers Securities, June 9 GILROY Foods’ dehydrated foods business to be acquired: Olam yesterday announced plans to acquire business and operating assets of Gilroy Foods for US$250 million (all-cash, subject to final working capital adjustments) from ConAgra Foods. Gilroy
        372 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      118 8 TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 11,803 11,803 55,264 55,264 Manufacturing 134,811 4,859 139,670 137,468 139 137,607 Commerce 58,312 2,007 60,319 93,532 655 94,188 Tpt/Stor/Comms 79,942 210 80,152 149,635 22 149,657 Finance 16,215 61 16,276 174,346 6 174,352 Construction 8,263 1,201
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    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      109 8 Stock name Close Change Stock name Close Change CapMallsAsia 2.070 -0.010 CapitaLand 3.520 -0.020 CapitaMall 1.810 -0.010 CityDev 10.480 +0.040 ComfortDelGro 1.390 -0.010 DBS Grp 13.260 -0.080 F&N 4.710 +0.020 Genting SP 1.040 Golden Agri 0.490 -0.005 HK Land 4.970 +0.070 JMH 36.480 -0.020 JSH 21.200
      109 words
    • Article, Illustration
      Lock icon Respite for euro from options-linked buying
      511 8 CURRENCIES Reuters [NEW YORK] The euro rose yesterday, boosted partly by options-relat-ed demand, but fears about lingering debt crises in Europe and their negative impact on economic growth were seen as likely to limit its gains. Pressure on the euro, which fell below US$1.19
      Reuters; AFP  -  511 words
    • Article
      Lock icon RISES
      114 8 BY CENTS CLOSE UP DBXT FTVietnam 10US$ 4294 84.9 1.4 CIMBAsean40 100US$ 802 58.0 5.4 JSH 2120 28.3 1.0 DBXT CSI300 10US$ 862 17.0 1.4 Lyxor US DJIA 10 US$ 1011 17.0 1.2 Pru 500US$ 770 14.2 1.3 Haw Par Corp 597 14.0 2.4 DairyFarm 674 12.7 1.4 Lyxor
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    • Article
      Lock icon FALLS
      126 8 BY CENTS CLOSE DOWN GLD 10US$ *****-118.9 -0.7 DBXT Nifty 10US$ ***** -83.5 -0.5 DBXT S&P Short 10US$ 5550 -38.2 -0.5 WesTech 355 -15.0 -4.1 STXPO 100 1278 -14.0 -1.1 SIA 200 1426 -12.0 -0.8 Golden Ocean 184 -10.0 -5.2 DBXT MSKorea 10US$ 4291 -8.5 -0.1 DBS Grp 1326
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    • Article
      Lock icon CURRENCIES
      87 8 Where S$ stands Jun 9 CHNG YR 2010 CLOSE FR Jun 8 S$ LOW S$ HIGH US$ 1.4162 -0.01 1.4219 1.3680 Euro 1.6915 -0.17 2.0153 1.6886 Pounds 2.0495 -0.59 2.2831 2.0003 A$ 1.1672 -1.11 1.2960 1.1515 Yen* 1.5499 -0.07 1.5927 1.4467 Rupiah* 0.***** -0.01 0.***** 0.***** Baht* 4.3448 -0.10
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  • SINGAPORE NEWS
    • Article
      Lock icon COEs up for all categories
      177 9 Premium for Cat A up to $30,051 and Cat B up to $40,002 PREMIUMS for certificates of entitlement (COEs) in the latest open bidding exercise were higher in all categories. The spike was sharpest in Category B for cars above 1601cc, which rose from $34,600
      177 words
    • Article, Illustration
      Lock icon ALL IN A DAY’S WORK
      243 9 HSBC staff have gone on a three-day mission to help needy children do better at school. Under the bank’s “All in a Day’s Work” programme, 500 staff are sprucing up parts of the youngsters’ homes to create cheerful study areas. “HSBC believes in the power
      243 words
    • Article
      Lock icon Most S’poreans support adoption to start a family
      285 9 Some say it may encourage having out-of-wedlock kids AN overwhelming 91.2 per cent of people in Singapore view adopting a child as a perfectly viable way of starting a family, according to a survey funded by the National University of Singapore. However,
      285 words
    • Article
      Lock icon Focus on hiring ethical top people: ACCA
      465 9  -  Its study of financial crisis found serious ethical failings in businesses By MICHELLE QUAH THE Association of Chartered Certified Accountants (ACCA) says that businesses need to focus more on “people risk” the Achilles’ heel in most organisations, which contributed to the financial crisis.
      465 words
    • Article, Illustration
      Lock icon Saving through MOF shared services unit
      453 9  -  By LEE U-WEN LITTLE is known about what Vital.org a department under Singapore’s Finance Ministry does, but this one-stop shop for back office functions currently manages a portfolio of 10 public agencies with assets and inventory totalling over $1.8 billion. The four-year-old organisation housed
      453 words
    • Article
      Lock icon Asia’s beverage firms not water-savvy
      586 9  -  Water resources are not strategically managed: report By TEH HOOI LING WATER is the world’s most valuable resource and with the growing world population, demand for water is fast outstripping supply. Despite fresh water being one key ingredient for the industry, most beverage companies in
      586 words
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      25 9 EMPORIO PROPERTY GROUP LacCies QentCemen We cordially invite you To lease or seCCyour property witH TMTORIO 'FRCYPFRTX) GWJUT TCease RS.y.T Warmest Regards, EVA 9634 9769
      25 words
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  • SINGAPORE ARTS FESTIVAL
    • Article, Illustration
      Lock icon Reprising the definitive Emily
      972 10  -  But this will be Margaret Chan’s final goodbye to the role. She shares her thoughts with CHEAH UI HOON CHEAH UI HOON TWENTY five years on, actress Margaret Chan is closer to the age of the character Emily of Emerald Hill, and she expects that it'll
      972 words
    • Article, Illustration
      Lock icon A glimpse of a traditional Thai art form
      631 10  -  By CHEAH UI-HOON WITH just one red bottle and magnificent costumes, the Makhampon Foundation and Bangkok Theatre Network's Likay version of Red Demon managed to whisk its audience off to “the other side” the side where imagination reigns. It also took us
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  • Page 10 Advertisements
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      834 10 It KAT3 NOTICES NOTICE OF INTENDED DIVIDEND Name of company ADVANCE MODULES GROUP LIMITED (In Creditors' Voluntary Liquidation) Reg. No. *****1776E Address of former 135 Middle Road, #02-21 registered office Bylands Building, Singapore *****5 Last day for receiving proofs: 25 th June 2010 Name of liquidators CHEE YOH CHUANG EU
      834 words
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      Lock icon Page 10 Advertisements Column 2
      80 10 The New Paper Big Walk is back! thenewpaper BigWalk Register this weekend (June 12 and 13) at any of the following venues: Singapore Flyer, Sky Deck (car park rooftop) FairPrice Xtra at Jurong Point, FairPrice Xtra at AMK Hub, FairPrice Supermarket at Woodlands Civic Centre Time: 11am to 8pm Fee:
      80 words
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  • SINGAPORE INTERNATIONAL
    • Article, Illustration
      Lock icon Emerging market in the making
      1449 11  -  Investors are rushing to Africa, attracted not just by the World Cup but longer-term prospects, reports CHUANG PECK MING CHUANG PECK MING WITH two businessmen reporting seemingly different views, it’s hard to tell whether Africa is a good bet for Singapore companies venturing overseas. Sheikh
      1,449 words
    • Article
      Lock icon Variety is key for business in Africa
      288 11 Name of iadvisor: Rui Fernandes Designation: Managing Director Company: Orient River Enterprise Pte Ltd Q: Which are the countries and sectors that are suitable for Singapore companies in Africa? A: Africa is a large continent of 54 countries, with a diverse set of
      288 words
  • Page 11 Advertisements
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      109 11 BOOST YOUR BUSINESS, INCREASE YOUR EXPORTS Are you throwing money into your export business development without knowing if you are on the right track? If so, we can help. Come join our Exporter Development Programme and we will support up to 70% of the total programme cost. Programme Benefits Personalised
      109 words
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon Seoul mulling over currency controls
      826 12 Cap on currency forwards likely, rather than capital flow restrictions Reuters [SEOUL] South Korea, ever more uneasy about the gyrations of its currency, is considering controls to limit that volatility and the risk of a reversal in capital flows. At the same time, the authorities
      Reuters; AP  -  826 words
    • Article, Illustration
      Lock icon Australia to dodge EU crisis: central bank
      387 12 AFP [SYDNEY] Australia will dodge Europe’s worsening financial turmoil due to strong Asian demand for its raw materials, which also pulled it through the global downturn, the central bank chief said yesterday. Reserve Bank of Australia (RBA) governor Glenn Stevens also said the
      AFP; BLOOMBERG  -  387 words
    • Article, Illustration
      Lock icon Asia warned of spillover from Europe debt crisis
      386 12 IMF urges govts to be ready to take appropriate action AFP [SINGAPORE] The International Monetary Fund (IMF) warned Asia yesterday of the potential spillovers of the European debt crisis, saying it could dampen trade, make capital flows volatile and overheat economies in
      AFP; ARTHUR LEE  -  386 words
    • Article
      Lock icon Confidence returning to dong: World Bank
      391 12 Vietnam navigated the economic crisis well, says report Reuters [HANOI] Confidence in the Vietnamese dong is returning after a year of pressure and widespread expectations of devaluation, and the unofficial rate may continue to strengthen, the World Bank said yesterday. With dong deposit rates
      Reuters  -  391 words
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon Berjaya asked to clarify mix-up over betting licence
      652 13  -  Regulators say they will take action if securities laws have been breached B y PAULINE NG BERJAYA Corporation will be asked to clarify the status of a sports betting licence to its unit Ascot Sports Sdn Bhd following Monday’s denial by Prime
      652 words
    • Article
      Lock icon Bumi selling shares to pare debt
      386 13 Reuters Bloomberg [JAKARTA] PT Bumi Resources, Indonesia’s biggest coal miner, expects to raise as much as US$495 million via a 10 per cent share placement by July to pay down its debt. The company said yesterday that it would issue 1.94 billion new shares
      Reuters; Bloomberg  -  386 words
    • Article
      Lock icon Malaysia sees need for benchmark and ratings
      217 13 Bernama [PETALING JAYA] Malaysia needs to benchmark and be rated to become a competitive nation globally, says International Trade and Industry Minister Mustapa Mohamed. “Benchmarking and rating are important criteria. Going forward, we have to accept the fact that we have to benchmark
      Bernama  -  217 words
    • Article, Illustration
      Lock icon Indonesia plans to open up farm sector to foreigners
      438 13 Caps on investment in healthcare, transport to go up Reuters [JAKARTA] Indonesia will open up its agricultural sector to foreigners and raise the level of foreign investment allowed in sectors including healthcare and transport, according to a presidential decree seen by
      Reuters; AFP  -  438 words
    • Article
      Lock icon Indonesia sees jump in debt market volumes
      355 13 Reuters [JAKARTA] Trading volume in Indonesia’s short-term debt markets has risen in recent weeks because commercial banks increasingly turn to the money market to manage their funding needs after Bank Indonesia said it would cut the frequency of its debt auctions. Indonesia’s central
      Reuters  -  355 words
    • Article, Illustration
      Lock icon KL lures retail investors it lost after Asian crisis
      682 13 Bursa to open up accounts, encourage online trading Bloomberg [KUALA LUMPUR] Malaysia’s bourse said it’s seeking to lure individual investors who have shunned the market a decade after the Asian financial crisis. Bursa Malaysia is working with brokerages and banks “to
      Bloomberg; FILE PHOTO  -  682 words
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      117 13 Singapore Pools World Cup 2010 Information Note World Cup Accounts in use till 12th July 2010. Lucky draw for sign-ups before 11 th June 2010. Sign-ups available online or at Singapore Pools branches. Terms apply. World Cup Cards ($100, $500 and $1,000) for top-up of World Cup Accounts are on
      117 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon China exports tipped to shred forecasts
      609 14 May’s 50% surge vs 32% projection heartens markets fearful of EU fallout Reuters [SHANGHAI] Chinese exports in May grew about 50 per cent from a year earlier, sources said yesterday, a figure that blew past expectations and fuelled a rise in stock markets globally.
      Reuters; REUTERS  -  609 words
    • Article
      Lock icon Beijing pulls the plug on renewable energy IPOs
      317 14 Freeze to hit wind equipment makers, polysilicon suppliers Reuters [HONG KONG] Chinese regulators have ordered a freeze on some initial public offerings (IPOs) related to renewable energy, amid fears that overcapacity will weigh on the rapidly growing industry. While the government has
      Reuters  -  317 words
    • Article, Illustration
      Lock icon Agricultural Bank’s IPO gets regulator’s nod
      419 14 Dual listing in HK, Shanghai worth more than US$20b AP [SHANGHAI] China’s stock regulator has approved Agricultural Bank of China’s plans for an initial public offering in Shanghai and Hong Kong worth well over US$20 billion that may be the world’s biggest ever, despite
      AP; REUTERS  -  419 words
    • Article
      Lock icon State Bank rights offer to raise 200b rupees
      297 14 Bloomberg [NEW DELHI] The State Bank of India, the nation’s largest, plans to raise 200 billion rupees (S$6 billion) from a rights offer in the second half of the year ending March 31 as demand for loans climb in Asia’s third-largest economy.
      Bloomberg  -  297 words
    • Article, Illustration
      Lock icon Anil Ambani withdraws libel suit against brother, NYT
      362 14 AP [MUMBAI] Indian billionaire Anil Ambani has withdrawn a 100 billion rupee (S$3 billion) defamation lawsuit against the New York Times and his estranged elder brother Mukesh, a spokesman said yesterday. A Bombay High Court judge granted Anil’s request to withdraw the
      AP  -  362 words
    • Article
      Lock icon China’s sovereign fund gained 11% last year
      432 14 Reuters [SAN FRANCISCO] China’s sovereign wealth fund gained 11 per cent last year, but this year will be challenging, given the volatility in global markets, the fund’s chief risk officer said on Tuesday. Gains for the fund, excluding its domestic arm, exceeded 17
      Reuters  -  432 words
    • Article
      Lock icon India car sales jump 30% in May
      323 14 Reuters [NEW DELHI] Car sales in India posted their best May ever, rising by a third from a year ago, an industry body said yesterday, as rising incomes and a rapidly expanding economy offset the impact of price increases. Domestic firms sold 148,481
      Reuters  -  323 words
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  • ASIA-PACIFIC/WORLD
    • Article, Illustration
      Lock icon Aussie consumer confidence takes a hit
      396 15 Fears mounting over global economy and new mining tax: survey AFP [SYDNEY] Australian consumer confidence has suffered its largest two-month fall since the depths of the downturn, a survey showed yesterday, as fears mounted over the global economy and a new mining tax. The
      AFP; BLOOMBERG  -  396 words
    • Article
      Lock icon Japan’s Noda wants consumer prices to rise more than 1%
      502 15 Bloomberg [TOKYO] Japanese Finance Minister Yoshihiko Noda said he wants consumer prices to rise more than one per cent, while stopping short of favouring an inflation target for the central bank. The figure “is my own understanding for stable price
      Bloomberg  -  502 words
    • Article, Illustration
      Lock icon South-east Asian countries eye nuclear energy
      616 15 AFP [SINGAPORE] Despite safety fears, South-east Asia’s energy-hungry economies are exploring the nuclear option to keep up with escalating power demand in a region of more than half a billion people. Vietnam plans to make its first nuclear plant operational in 10 years, while
      AFP; BLOOMBERG FILE PHOTO  -  616 words
    • Article
      Lock icon Manila may raise GDP target for 2010
      297 15 Reuters [MANILA] The Philippine government may raise its economic growth target for this year to between 5.9 per cent and 6.9 per cent, possibly the fastest expansion since 2007, following strong first-quarter figures, a government source said. Officials have previously said the government
      Reuters  -  297 words
    • Article
      Lock icon Japanese machinery orders up, beats forecast
      600 15 Reuters [TOKYO] Japan’s core machinery orders rose more than expected in April, suggesting solid exports to Asia will prompt companies to gradually increase capital spending. The rise underscores the view that Japan’s economy is on course for a moderate recovery. That bodes well for
      Reuters  -  600 words
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      28 15 UK ttu Lianhe Zaobao From otah seller to entrepreneur Neo Group founder vows to stun ahead of rivals Rm 'anon To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • WORLD
    • Article, Illustration
      Lock icon Brazil’s growth sparks fears of overheating
      803 16 Q1 growth of 9% is fastest in at least 14 years; central bank seen raising rates Reuters [SAO PAULO] Brazil’s economy roared ahead at its fastest pace in at least 14 years in the first quarter, fuelled by investment spending and booming domestic demand
      Reuters; AFP  -  803 words
    • Article
      Lock icon UK agency to publish economic forecasts next week
      221 16 AFP [LONDON] An independent body set up by Britain’s new coalition government will publish its first economic forecasts on Monday, it announced as Chancellor of the Exchequer George Osborne urged tough action to slash debt. The Office for Budget Responsibility said on
      AFP  -  221 words
    • Article, Illustration
      Lock icon Ex-EBay CEO wins nomination for California governor
      634 16 Meg Whitman will face Democrat Jerry Brown in the November election Bloomberg [CALIFORNIA] Former EBay Inc chief executive officer Meg Whitman won the California Republican nomination for governor to face Democrat Jerry Brown in an election to decide who will lead the most-pop-ulous
      Bloomberg; REUTERS  -  634 words
    • Article
      Lock icon US bequests slump as recession hits charity-giving in 2009
      611 16 But individuals’ donations remain stable and corporate gifts rise: survey AFP [WASHINGTON] US charitable contributions slumped 3.6 per cent in 2009 as the recession crimped gift giving, according to an annual survey released yesterday that showed the steepest decline since 1974.
      AFP  -  611 words
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  • FOCUS: EUROPE'S WOES
    • Article
      Lock icon US frets over Nato allies' big spending cuts
      689 17 Pentagon fears US could be stuck with even bigger share of Afghan war burden LAT-WP [LONDON] European allies are bracing for their deepest cuts in military spending since the end of the Cold War, fuelling concerns in Washington that an already wide
      LAT-WP  -  689 words
    • Article, Illustration
      Lock icon Spain, Germany hit by anger over austerity
      753 17 Hungarian govt orders drastic spending cuts AFP [MADRID] Tens of thousands of Spanish public workers went on strike while Germany’s powerful unions warned of anti-aus-terity protests as Hungary became the latest debt-rid-den nation to order drastic cuts. Tensions also mounted between European Union
      AFP; AP  -  753 words
    • Article
      Lock icon EU reforms put in place, says Portugal
      256 17 Structural changes made to labour and welfare systems AFP [LISBON] Portugal said it had already implemented key structural reforms to its labour and welfare systems, as requested by the European Union to help put its public finances in order. “Portugal has already implemented
      AFP  -  256 words
    • Article
      Lock icon European crisis not a major threat to US economy
      814 17 AP [WASHINGTON] Anxiety about Europe’s debt crisis last month caused US stocks to suffer their worst month in more than a year. Yet many experts say fears that Europe will deal a sharp setback to the US economy are overblown. They
      AP  -  814 words
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      15 17 www.omy.sg yjp http://south-africa-2010.omy.sg CD rjili @Blog .omV-M/south-aWca- 20 0 http://blog 11«1« Lingzhi@South Afnca m/lingrhiSA20l0 http://twitter.co
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  • EDITORIAL & OPINION
    • Article, Illustration
      Lock icon Reducing COEs may be double-edged sword
      1134 18  -  The bottom line could be a larger car population with older, less efficient vehicles VALERIE TAN The writer is CEO of Pinnacle Motors TO MANY Singaporeans, a car is more than just a means of transport. Some view it as a status symbol to
      ST FILE PHOTO  -  1,134 words
    • Article, Illustration
      Lock icon China’s legal system: a step forward, but a long way to go
      771 18  -  THE BOTTOM LINE FRANK CHING EACH year, the human rights report on China makes gloomy reading. Each year, we are told “the government’s human rights record remained poor” and, not infrequently, that the situation had deteriorated. Next year,
      771 words
    • Article
      Lock icon Lessons from Bhopal and BP
      487 18 EDITORIAL AMID the still-unfolding debacle of the Gulf of Mexico oil spill came the shocking news that an Indian court has this week convicted key Union Carbide executives involved in the 1984 toxic gas leak catastrophe in the city of Bhopal. The headlines and news
      487 words
    • Article, Illustration
      Lock icon Lion Infrastructure and value investing
      1202 19  -  Both of them are an ongoing team process that demands sacrifice, hard work and soberness to scale new heights By TAN SENG HOCK, KEE KOON BOON THE “Singapore model”. This is what Charlie Munger, the vice-chair-man of Berkshire and partner of Warren Buffett, wished for
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    • Article
      Lock icon Our own private oath is the latest hit on Wall St
      1071 19  -  By MICHAEL LEWIS The writer, most recently author of the best-selling ‘The Big Short’, is a columnist for Bloomberg News. The opinions expressed are his own. A FEW weeks ago Bloomberg News reported that, in just the past year,
      1,071 words
    • Article
      Lock icon Do we really need a new trading engine?
      330 19 LETTER TO THE EDITOR I REFER to the report “SGX to boost trading speeds, global links” (BT, June 4) which will create the world’s fastest trading engine with the lowest trading latency and will lower costs for overseas customers. I also refer
      330 words
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  • Page 19 Advertisements
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      103 19 HAVE YOUR SAY Fax your letters to 6319-8277 or e-mail them to btletter@sph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel
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  • AVIATION
    • Article, Illustration
      Lock icon Qantas, Virgin open to bids as industry consolidates
      904 20 MAS also favours consolidation to boost earnings and cut costs: CEO Bloomberg [BERLIN] Qantas Airways Ltd and Virgin Atlantic Airways Ltd said they’re open to merger proposals as efforts to cut costs and boost traffic push carriers to combine. Qantas, Australia’s biggest
      Bloomberg; AFP  -  904 words
    • Article
      Lock icon Nearly 400 GE aircraft engines need frequent checks: FAA
      242 20 Bloomberg [WASHINGTON] Almost 400 General Electric Co (GE) aircraft engines must be inspected more frequently for cracks to prevent failures, US federal aviation regulators told US airlines following “urgent” recommendations by a safety board. The CF6-45/50 series turbofan engines must also
      Bloomberg  -  242 words
    • Article
      Lock icon Airlines install airbags on tighter safety rules
      575 20 Bloomberg [BERLIN] Cathay Pacific Airways Ltd and Air FranceKLM Group have begun introducing seatbelt-mount-ed airbags in their econo-my-class cabins as authorities tighten regulations aimed at reducing the risk of fatalities in plane crashes. All aircraft built in the US since October must conform
      Bloomberg  -  575 words
    • Article
      Lock icon AIRCRAFT ARRIVALS AND DEPARTURES
      2970 20 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ455 1230 SQ458 1410 EY473 1950 Adelaide LH9771 1745 LH9770 2350 SQ268 1745 SQ269 2350 VS7268 1745 VS7279 2350 9W4081 1820 AF8087 1820 BA7381 1820 JL5084 1820 QF81 1820 Amsterdam SQ323 0605 AZ3993 0025 US5410 0605 KL836 0025 AZ3992
      2,970 words
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      Lock icon THE BUSINESS TIMES SHIPPING TIMES
      4124 21 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.
      4,124 words
  • Page 20 Miscellaneous
    • Miscellaneous
      Lock icon Page 20 Miscellaneous Column 1
      338 20 CRYPTIC CROSSWORD Across 1 Increase attic space and make a lot of noise (5,3,4) 9 Arch-sounding lover (4) 10 No vegetarian fellow given a job in London (9) 12 Introductions when leader of ensemble enters concerts (6) 13 Sullen crooner getting cross inside (8) 15 Clown, crazy guy avoiding others
      338 words
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  • Article, Illustration
    Lock icon Dry-bulk shipping costs seen falling
    274 22 Bloomberg [LONDON] The cost of hiring ships to haul commodities such as coal and iron ore may fall as demand weakens in China, the world’s biggest consumer of the materials, Arctic Securities ASA, said. Chinese steelmakers are likely to cut production in the third quarter
    Bloomberg; REUTERS  -  274 words
  • Article
    Lock icon CMA CGM adding weekly Durban call
    335 22 Xinhua [PARIS] French leading shipping group CMA CGM, headquartered in south France, has announced that it will add a weekly call in Durban, South Africa, from this Friday, in a bid to directly link South Africa to Asia. The supplement stop, a part of
    Xinhua  -  335 words
  • Article
    Lock icon Lower surplus of supertankers in Persian Gulf
    413 22 Demand from Chinese oil firms 88% above their weekly average Bloomberg [LONDON] A surplus of supertankers competing to haul two million-barrel cargoes of Middle East crude oil shrank over the past week on stronger Chinese ship demand. There are 5 per cent more
    Bloomberg  -  413 words
  • Article
    Lock icon Greek clients the target of Cosco Shipyard
    147 22 Bloomberg [ATHENS] Cosco Shipyard Group Co, the ship repair unit of China’s Cosco Group, plans to increase the number of projects for Greek clients to almost a third of its order book this year. Greek ship owners currently provide a quarter of the
    Bloomberg  -  147 words
  • Article
    Lock icon TRANSPORT STOCKS
    278 22 SGX '000 Jun 9 S$ +/-Vol CH Offshore 0.51 -0.01 371 Chuan Hup Hldg unch unch 0 Cosco Corp 1.37 -0.02 ***** CWT Ltd 0.88 0.01 869 Ezra Hldgs 1.78 -0.01 2944 First Ship Lea 0.40 -0.05 7669 Freight Links 0.05 unch 65 Grand Banks unch unch 0
    278 words
  • Page 22 Advertisements
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      29 22 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 SHIPPING TIMES
      29 words
    • Advertisement
      Lock icon Page 22 Advertisements Column 2
      32 22 Experienced Sll fp maintenance services wanted. Can they find your services Here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE. CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES SHIPPING TIMES
      32 words
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      8744 23 Transaction date: Jun 9 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 18 6.5 3148 8Telecom 14.5 unch 63 15.5 14.5 14.5 15.5 1.7 12.5 4.7 69.4 10 5.5 5834
      8,744 words
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      Lock icon SGX CATALIST
      1786 24 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 10 5 1181 t AA Grp 6 5 7 33.3 5.8 25 13 8538 t APStrategic 16 13.5 18.5 94.9 4 0.5
      1,786 words
    • Article
      Lock icon UNIT TRUSTS & FUNDS
      9489 24 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund!** 1.12/ APS Alpha Fund (USD)!** 0.79/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM -Talents Fund 0.61/ Aberdeen Asset Mgt Asia Limited American Opp 0.5934/ Asian Credit Fund 1.2465/ Asian
      9,489 words
    • Article
      Lock icon SGX ETF
      690 24 52-Wk Tel Last Vol Day Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 116 107 6389 ABF SG Bond ETF 115 109 116 525 883 610 CIMBAsean40 100US$ US802 +41 4 802 802 804 808 32.1 306
      690 words
    • Article
      Lock icon CLOB INTERNATIONAL
      74 24 52-Wk Tel Last Vol Day Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 27 6000 AVJennings A45 40 50 3.6 7.8 3.6 117.2 31 13 6017 Genting HK US$ US16.5 unch 1559 17 16.5 16.5 17
      74 words
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  • FINANCE & COMMODITIES
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      374 25 In local curr In S$ In US$ dy yr dy yr dy yr Jun 8 Index Change Change Change Change Change Change World Index Preliminary 774.8 -0.2 -6.9 -0.1 -10.1 -0.1 -11.0 EAFE Preliminary 717.9 -0.4 -8.5 -0.3 -16.2 -0.3 -17.1 Europe Preliminary 1026.6 -0.8
      374 words
    • Article
      Lock icon INTERBANK RATES
      177 25 Jun 9 $S Offer Bid Overnight 1/16 par 1-month 3/8 1/8 2-months 7/16 3/16 3-months 9/16 5/16 Overnight mode: 3/8 US$ 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
      177 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      22 25 Jun 9 S$ Bid Offer 1-month 1.4153 1.4164 2-months 1.4152 1.4163 3-months 1.4150 1.4161 6-months 1.4147 1.4157 Source: OCBC
      22 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      132 25 Jun 9 As at 9am Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.1550 1.1890 Can dollar 1.3400 1.3570 Euro 1.6820 1.7000 NZ dollar 0.9320 0.9520 Sterling pound 2.0310 2.0540 US dollar 1.4080 1.4240 Local dollars to 100 units of foreign
      132 words
    • Article
      Lock icon STOCK INDEX FUTURES
      29 25 Jun 9 Open High Sett STI Jun 2750 2750 2746 SIMSCI Jun 322.9 326.2 323.2 Taiwan Jun 252.8 253.3 250.1 Source: MF Global (S) Pte. Ltd
      29 words
    • Article
      Lock icon PALM OIL
      66 25 Jun 9 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 10 2525 2524 2535 2506 724 2257 Jul 10 2481 2454 2481 2442 2453 ***** Aug 10 2437 2418 2438 2402 ***** ***** Sep 10 2413 2395
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    • Article
      Lock icon SGX DERIVATIVES TRADING
      374 25 Jun 9 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Jun10 99.4600 0 2266 Sep10 99.2800 0 1687 Dec10 99.1350 0 1134 Mar11 98.9900 0 1474 EUROYEN TIBOR FUTURES Jun10 99.6150 312 3943 Sep10 99.6400 12 3356 Dec10 99.6450 0 1411 Mar11 99.6550 0 1993 Jun11 99.6150
      374 words
    • Article
      Lock icon SICOM FUTURES
      152 25 Jun 9 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Jul 10 340.0 340.0 340.0 33 Aug 10 315.0 Sep 10 305.0 305.0 300.0 2 Oct 10 294.0 Nov 10 287.0 Dec 10 283.5 283.5 283.5 30 Jan 11
      152 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      91 25 Jun 9 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****N 09.09.2010 0.30 1-Year BY*****W 03.05.2011 0.37 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0A 2.625 01.04.2012 103.92 5-Year N*****0N 1.375 01.10.2014 102.24 102.35 102.25 7-Year N*****0Z
      91 words
    • Article
      Lock icon CHICAGO BOT
      105 25 Jun 8 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 10 931.00 935.00 937.50 926.00 Aug 10 912.25 917.75 919.25 907.00 Sep 10 898.25 904.25 905.75 893.00 Nov 10 894.25 900.00 900.75 887.00 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Jul 10 36.67 36.47 36.92
      105 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      77 25 CRUDE OIL PRODUCTS Jun 8 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 72.66 0.22 WTI (Near Mth) 71.82 0.53 Dubai (1-Mth F) 71.57 -0.19 Tapis blend 76.10 -0.25 Minas 74.25 -0.20 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 69.72 0.22 Jet Kerosene 83.20 -0.15 US$/barrel Opec Oil
      77 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      2300 25 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 3.5 1 15 16 4.57 47 4085 ASJ Hldgs W*****1 3 1 4 2.33 20 2036 Advance SCT Ltd W*****9 0.5 1 87 2817 6.00 2
      2,300 words
    • Article
      Lock icon INTERBANK CROSS RATES
      465 25 Jun 9 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.865 5.630 0.690 6.431 38.819 76.262 0.753 10.291 2.732 1.242 70.321 38.391 1.167 6.368 0.950 26.737 26.873 0.571 0.824 Canada 1.156 6.507
      465 words
    • Article
      Lock icon SIBOR
      85 25 Jun 9 (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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
      85 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 25 Jun 9 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1667 1.1680 0.8243 0.8246 Canadian dollar 1.3485 1.3499 0.9527 0.9530 Euro 1.6910 1.6929 1.1947 1.1952 NZ dollar 0.9393 0.9406 0.6636 0.6641 Sterling pound 2.0448 2.0470 1.4447 1.4452
      154 words
    • Article
      Lock icon PRECIOUS METALS
      140 25 Jun 9 GOLD (US$/oz) Jun 08 Jun 09 Hong Kong 1241.00 1233.50 Jun 07 Jun 08 London 1231.45 1246.35 1233.05 1247.35 Source: Thomson Reuters CAST BAR Jun 09 (S$) Selling Buying Kilobar 60,532.04 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 135.89 56 5gm 385.2 282 10gm 688.01
      140 words
    • Article
      Lock icon LONDON METALS
      71 25 Jun 8 Jun 8 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1888.00 1834.75 3 months 1920.00 1867.50 Copper, Grade A (US$/tonne) Cash 6134.25 6067.75 3 months 6165.00 6101.00 Lead (US$/tonne) Cash 1583.00 1529.00 3 months 1606.00 1554.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • Article
      Lock icon LIFFE
      82 25 Jun 8 COCOA (£/tonne) Close Prev High/Low Jul 10 2962 2927 2969/2932 Sep 10 2981 2944 2984/2949 Dec 10 3007 2968 3010/2970 Mar 11 3034 2997 3033/3009 COFFEE (US$/tonne) Close Pev High/Low Jul 10 1341 1338 1345/1335 Sep 10 1375 1373 1379/1370 Nov 10 1394 1397 1398/1389 Jan 11
      82 words
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  • BizIT
    • Article
      Lock icon Broadband investments pay for themselves
      727 26  -  ITU chief says research shows that ICT investments have a positive effect on GDP growth, reports ABDUL RAHMAN B MOHD SAID ABDUL RAHMAN B MOHD SAID INVESTMENTS in broadband networks can very quickly pay for themselves through the benefits that get delivered across society as
      727 words
    • Article
      Lock icon IDA’s deputy chief appointed as ITU broadband commissioner
      295 26 THE deputy chief executive at the Infocomm Development Authority of Singapore (IDA) has been appointed a commissioner of the newly formed Broadband Commission for Digital Development. Leong Keng Thai, who is also director-gener-al (Telecoms Post) at IDA, will join 30 other high-level
      295 words
    • Article
      Lock icon Global data deluge gives storage hardware and software spend a boost
      470 26  -  By RAJU CHELLAM THE soaring volumes of data generated, coupled with an upturn in many economies worldwide, are fuelling demand for data storage as well as the software to optimise how data is stored and accessed. That assessment comes
      470 words
    • Article, Illustration
      Lock icon High-tech video conference room opens to public
      452 26  -  By CHAN YUPING BUSINESSES and private groups can now go to a local hotel for “face-to-face” meetings with clients across the globe, using a high-definition, immersive video-conferencing system that makes it seem as though their distant clients were in the same room. The
      452 words
    • Article, Illustration
      Lock icon Brocade, Dell announce new solutions
      710 26  -  By AMIT ROY CHOUDHURY BROCADE and Dell have announced the availability of a new range of open, standards-based solutions for data centre customers in Asia. Deb Dutta, Brocade’s Asia Pacific VP, told BizIT that both companies firmly believe that next-genera-tion, virtualised data centres should be
      710 words
  • Page 26 Advertisements
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      Lock icon Page 26 Advertisements Column 1
      74 26 Looking for IT Outsourcing? Stone Forest IT (SFIT) is a leading provider of IT Outsourcing Services. Our clients include leading legal firms, SMEs and foreign firms. Our firm's reputation is built on practical advice, proactive client servicing and a proven methodology. We provide businesses with one-stop shop service, from IT
      74 words
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  • PROPERTY
    • Article, Illustration
      Lock icon Mumbai plans world’s tallest apartment block
      511 27 Called World One, it will be 117 storeys high and is likely to be ready by 2014 AFP [MUMBAI] An Indian property group on Tuesday unveiled plans to build the world’s tallest purely residential tower in Mumbai, the country’s booming financial capital. Lodha Developers
      AFP  -  511 words
    • Article
      Lock icon Househunt PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN MAY 12 AND 18,2010
      1300 27 H ousehunt PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN MAY 12 AND 18,2010 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED 9 Seraya Apt 17/05/2010 FH 560 600 1071 Marina Bay Residences Apt 12/05/2010 99 1216 2250
      1,300 words
    • Article, Illustration
      Lock icon Aussie home loan approvals down in April
      440 29 Interest rate increases cool demand from first-time buyers Bloomberg [SYDNEY] Australian home loan approvals fell in April for a seventh straight month, adding to evidence that the Group of 20’s most aggressive round of interest rate increases has cooled demand among first-time buyers.
      Bloomberg; REUTERS  -  440 words
    • Article
      Lock icon Aussie office sector draws record foreign buyers
      238 29 Reuters [SYDNEY] Foreign investment in Australia’s office market climbed to a record high in the past 12 months as the economy’s resilience continued to draw investors seeking growth, property firm CBRE said yesterday. In the 12 months to June, major office sales totalled
      Reuters  -  238 words
    • Article
      Lock icon Hyatt plans to develop more hotel properties
      308 29 Bloomberg [LOS ANGELES] Hyatt Hotels Corp, the lodging chain controlled by the Pritzker family, plans to put more money into developing properties, president and chief executive officer Mark Hoplamazian said. The Chicago-based company, which had 434 locations as of March 31, is buying
      Bloomberg  -  308 words
    • Article, Illustration
      Lock icon Land auction draws top bid of HK$10.9b
      828 30 Demand for homes seen withstanding govt efforts to cool property market Bloomberg [HONG KONG] The Hong Kong government’s HK$10.9 billion (S$1.98 billion) sale of a residential site at a public auction beat estimates and showed that home demand is withstanding efforts to cool
      Bloomberg; BLOOMBERG  -  828 words
    • Article
      Lock icon Morgan Stanley to advise ING on property unit’s sale
      175 30 Reuters [LONDON] Dutch bank ING has appointed Morgan Stanley for a possible sale of its real estate management arm as the bank reinvents itself after a state bailout, sources familiar with the matter said. The hiring of the US investment bank
      Reuters  -  175 words
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      165 27 adv FOH PIN MANSION RESIDENTIAL REDEVELOPMENT SITE savills SUBJECT PROPERTY Freehold Land 3,173sqm (approx 34,154 sqft) Approved for 3-storey mixed landed development Close to Nex, Heartland Mall, Serangoon MRT Station/ Bus Interchange Kovan MRT Station Proximity to reputable schools Minutes to CTE KPE CLOSING: 28 JUNE 2010 (MON), 3PM www.savills.com.sg
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      156 28 Launched. Landed sv< F- f s m 8 NA$S"* &llSINGAPORE 8 Nassim Hill occupies an unrivalled location in an Asian centre that is increasingly the primary residence of choice. We offer a limited edition of 16 freehold expansive homes, each with a private pool and the highest level of design
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      328 29 KnightFrank.com.sg m CAVENAGH MANSIONS FOR SALE BY TENDER 0St Margaret s Primary School Orchard Cavenagh Mansions Somerset mgm-Miwii Dhoby Ghaut Grange Rd Freehold Residential Redevelopment Site at Cavenagh Road. 100% owners'consent Land area: 1,840.7 sqm (approx. 19,813 sq ft) Master Plan 2008 PR 2.1, 24m AMSL Within 1km to AngloChinese
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      161 29 South Cove Sandy island Unique concept where 18 villas are nested within a tropical rainforest island Exclusive private with car lift Limited units Call 9183 3547/9687 2720 BALMORAL ROAD DEVELOPMENT OPPORTUNITY ft t S e S 8I 31 1 a. :< 5 oTLS 31 ill SC L® 111 Contact: CB
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      173 30 FOR SALE n joneslanglasalle.com.sg CentrePoint Office Tower Ho Chi Minh City High Yielding Vietnam Office Investment TSr 5 SS+ il MAvwiplckHoM ConoHoo w tj "•Oong v jf HO CHI MINH CITY «0» <#• Si x *>* j J^lhKMvnHffy Investment Highlights Brand New'Grade A'Office Tower comprising 15 levels of Office accommodation
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      262 30 EXCELLENT DISTRICT 9 SOMERSET RESIDENTIAL DEVELOPMENT SITE ■■i IliJ ii III 7 SAC *5 V* 100% Owners Consent No STB required 5 min walk to Somerset MRT Station Site area approximately 35,639 sq ft Plot ratio 2.8 Height Control up to 10 storeys Ideal for boutique luxury development Quiet and
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