The Business Times, 19 June 2010

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Microfilm: NL30704
Total Pages: 47
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    17 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg JUNE 19-20, 2010 S$1.00 MICA(P) 124/08/2009 sp!l A SINGAPORE PRESS HOLDINGS PUBLICATION
    17 words
  • Article, Illustration
    Lock icon Amid football fever, S’pore scores in cricket
    611 1  -  Deal with game’s marketing heavyweight poised to put Singapore on world cricketing map By Vikram Khanna vikram@sph.com.sg Singapore AS THE football World Cup fever rages on, Singapore has taken a major step toward becoming a regional hub for another sport: cricket. Yesterday, the
    FILE PHOTO  -  611 words
  • Article
    Lock icon Mega sales flop of HK luxurious apartments under probe
    242 1 Reuters Hong Kong THE Hong Kong government said it is looking into the cancelled sales of Henderson Land apartments, which have pushed down the developer’s shares this week. Earlier this week, Henderson announced that it would record a loss of HK$734
    Reuters  -  242 words
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  • TOP STORIES
    • Article
      Lock icon MARKETS
      137 2 STI 2,833.40 (-10.55) STI FUTURES 2,834 (-10) SIMSCI 336.67 (-0.25) SIMSCI FUTURES 336.90 (+0.00) STOCKS Friday Change KL COMP 1,317.69 +13.22 NIKKEI 225 9,995.02 -4.38 HANG SENG 20,286.71 +148.31 SET 791.85 +2.51 JAKARTA 2,929.59 +38.49 MANILA 3,335.48 +21.96 KOSPI 1,711.95 +4.03 SHENZHEN B 549.15 -5.56 MUMBAI IND 17,570.82 -45.87
      137 words
    • Article, Illustration
      Lock icon PUB will require Orchard Road buildings to be flood-proofed
      536 2  -  Older buildings that do not have a raised platform to stop floodwater were worst hit in Wednesday’s deluge By Uma Shankari shankari@sph.com.sg Singapore WATER agency PUB will make it mandatory for buildings in the Orchard Road area to be flood-proofed to
      ONG WEE JIN/MY PAPER  -  536 words
    • Article, Illustration
      Lock icon Citigroup to raise US$3b for new funds
      616 3 But Volcker rule may prove to be stumbling block Bloomberg New York CITIGROUP Inc plans to raise more than US$3 billion for its private-equity and hedge funds, even as US lawmakers consider banning banks from owning and investing in so-called alternative funds, people
      Bloomberg; AFP  -  616 words
    • Article
      Lock icon Say ‘sorry’ for apologising
      681 4  -  saturday soapbox By Joyce Hooi joyceh@sph.com.sg AS A BP shareholder, I’ve had ample opportunity to resoundingly introduce my palm to my forehead over the past few weeks. It should have been expected, of course, when you call your oil rig Deepwater Horizon a name worthy of
      681 words
    • Article
      Lock icon BP mulls options for debt financing: sources
      437 4 Reuters New York BP plc is considering various debt financing options, including bank loans and a corporate bond sale of up to US$10 billion to raise cash as it battles a huge oil spill, sources familiar with the matter said on Thursday. Complicating
      Reuters  -  437 words
    • Article, Illustration
      Lock icon Standing up to the drilling on Capitol Hill
      543 4 AFP Washington UNDER fire for the Gulf of Mexico oil spill, BP chief Tony Hayward coolly told angry US lawmakers on Thursday he was “not acementengineer”,“notanoceanographic scientist”, and not in the loop. Sitting alone at a long witness table 59 days after
      AFP  -  543 words
    • Article, Illustration
      Lock icon Scepticism over EU’s bank stress tests
      634 5 Details of the tests have not been disclosed, raising concern they may not be stringent enough Bloomberg London THE European Union’s (EU) decision to publish the results of stress tests on the region’s lenders was welcomed by shareholders seeking more transparency. Investors still want
      Bloomberg; AFP  -  634 words
    • Article
      Lock icon Asian companies set to deliver dividend bonanza
      489 5  -  By Jamie Lee leejamie@sph.com.sg Singapore ASIAN companies on average may pay out at least 40 per cent of their earnings as dividends for 2010-2011, says a report by BNY Mellon Asset Management. This could set the stage for Asia to outpace other parts
      489 words
    • Article, Illustration
      Lock icon Interns – they punch above their weight
      772 6  - Interns they punch above their weight More companies are finally realising that interns are an important source of fresh ideas and renewal By Chan Yuping ypchan@sph.com.sg Singapore ONCE seen as a convenient and cost-efficient way to overcome employment shortages or address a company’s seasonal labour needs, interns are now considered
      772 words
    • Article, Illustration
      Lock icon AgBank secures seven investors ahead of mammoth IPO
      506 6 Reuters Hong Kong AGRICULTURAL Bank of China has reached an agreement with a group of seven investors ahead of its massive initial public offering (IPO), sources said yesterday, with two funds from the Middle East considering a stake that could exceed US$2
      Reuters; REUTERS  -  506 words
  • Page 2 Advertisements
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      Lock icon Page 2 Advertisements Column 1
      100 2 CONTENTS NEWS Top Stories 2-6 Week in Review 7 Raffles Conversation 8-9 Companies 10-13 From The Desk Of 14 Singapore 15-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-32 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Style L2-3 Shopping L4-7 Dining L8-9 Design L10-11 Gadgets
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      76 5 [SENTQSAVCO™ tBUNGAiaW^I ■Cove Drive *****/***** sqft. Full seaview berth. Wide frontage. Top quality. ■Cove Drive *****/***** sqft. Full seaview. 40M frontage. 30M Pool. Park 8 cars. ■Cove Grove *****/***** sqft. Unblocked seaview with Pte Berth. Rare. ■Coral Island 6300/7000 sqft. Privacy. Pte berth, only $12.3M. •Treasure Island *****/***** sqft. Best
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK | June 14-18, 2010
      • Article
        Lock icon The game is on for YOG sponsors
        46 7 THERE are still 61 days to go before the inaugural Youth Olympic Games (YOG) get underway in Singapore,but manyof theevent’s numerous sponsors are not wasting any time in making sure that they get the biggest bang for their buck.
        46 words
      • Article
        Lock icon Nightspots fight the odds as resorts spin up
        73 7 THE bright lights of Singapore’s two integrated resorts are taking the shine off some local nightspots, causing patronage to fall by as much as 30 per cent as customers flock to the casinos. Sales are also taking a hit as their clientele
        73 words
      • Article
        Lock icon China’s AgBank plans to launch biggest IPO ever
        73 7 THE Agricultural Bank of China plans to defy nervous market conditions by listing its shares in what is set to be the world’s largest initial public offering (IPO) to date. China’s only remaining unlisted mega bank is seeking to raise up to
        73 words
      • Article
        Lock icon In-demand Ibis on Bencoolen is up for sale
        60 7 IBIS Singapore on Bencoolen, a three-star hotel that opened its doors in February last year, has been put up for sale via a private tender. Results of the tender will not be out until next month, though market watchers are guess- ing
        60 words
      • Article
        Lock icon Thailand plans to buy Temasek’s stake in Thaicom
        64 7 THAILAND is planning to make an offer to purchase Temasek Holdings’ stake in satellite monopoly Thaicom, a move that would make sensefroma “nationalsecurity perspective”, said Thai Prime Minister Abhisit Vejjajiva. Singapore investment company Temasek currently holds its Thaicom stake through its investment
        64 words
      • Article
        Lock icon Developers and buyers headed for a stalemate
        64 7 DEVELOPERS sold just 1,078 private homes in May about half the 2,208 units they transacted in April. This could mark the start of a period of slower sales as developers weigh their options and buyers bide their time. The two parties could have
        64 words
      • Article
        Lock icon Freak flood silences Orchard Road tills
        74 7 BUSINESSES in Singapore’s foremost shopping district found themselves under water on Wednesday as a massive downpour flooded the area for the first time in more than 25 years. Water cascaded into buildings and stores at the junction of Orchard and Scotts roads, causing hundreds
        74 words
      • Article, Illustration
        Lock icon WET TRIP
        25 7 A massive downpour drenching the Orchard Road area on Wednesday causing traffic jams and extensive flooding in buildings and stores YEN MENG JIIN
        YEN MENG JIIN  -  25 words
      • Article
        Lock icon Fortis gets July 30 deadline for Parkway plans
        48 7 THE Securities Industry Council (SIC) has given Fortis Healthcare a July 30 deadline to make clear whether it plans to launch a coun-ter-bid for Parkway Holdings, after the Indian group said on Tuesday that it was keeping its options open.
        48 words
      • Article
        Lock icon BP to finance US$20b fund to pay oil spill claims
        50 7 BP has agreed to finance a US$20 billion fund to pay the claims of people whose jobs and way of life have been damaged by the devastating oil spill in the Gulf of Mexico, senior administration officials said on Wednesday.
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      • Article
        Lock icon DBS in strategic rethink over business abroad
        74 7 DBS Group is rethinking the way it does wholesale banking in the Middle East, Europe and the United States, and is planning to focus more on supporting the overseas ventures of Asian businesses and rich clients, instead of broad corporate lending. The bank
        74 words
      • Article
        Lock icon Pace of S’pore exports slows after 4-month surge
        69 7 AFTER a sustained surge in the first four months, non-oil domestic exports (NODX) lost steam somewhat last month, foiling hopes, perhaps, of yet another sizzling quarter for GDP. Economists, however, are hopeful that the pause in pace NODX grew 24 per cent
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    • NEXT WEEK| June 21-25, ’10
      • Article
        Lock icon US DATA
        44 7 June 22 May existing home sales April housing price index June 23 May new home sales FOMC rate decision June 24 May durable orders May durable orders ex transportation Initial claims Continuing claims June 25 Q1 GDP 3rd estimate Q1 GDP deflator
        44 words
      • Article
        Lock icon SINGAPORE DATA
        15 7 June 23 May consumer price index June 25 May index of industrial production
        15 words
      • Article
        Lock icon EVENTS
        25 7 June 22 London British Finance Minister George Osborne to unveil an emergency Budget June 25 Huntsville, Ontario Canada hosts G-8 Summit (to June 26)
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  • Page 7 Miscellaneous
    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 1
      317 7 CRYPTIC CROSSWORD Across 1 Dictator hated for ill-treatment (5,6) 9 Son of Adam said to sound archaic (4) 10 Remedial needlework (11) 11 Captain’s favourable report on Commanding Officer (4) 14 Meant not to be found in action (7) 16 Mother checks out but doesn’t leave (7) 17 Took a
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    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 2
      10 7 SATURDAY with Ludwig ‘Will the meeting please come to order!’
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon The philanthroeconomist
      2389 8/9  -  The rich can save the world, and we should let them, Matthew Bishop believes. By Kenneth James By Kenneth James kenjames@sph.com.sg NOT many people can talk about tête-à-têtes with the likes of Bill Gates, George Soros and Angelina Jolie without being accused of name-dropping. Matthew Bishop can. Yet
      ARTHUR LEE  -  2,389 words
  • Page 8/9 Advertisements
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      Lock icon Page 8/9 Advertisements Column 1
      70 8/9 The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels Resorts. Raffles Hotels Resorts epitomizes enchanting experiences, embodying global sophistication and residential charm. Each is exclusive, intimate with a distinctive sense of place, imbued with heartfelt service that is intuitive and unobtrusive “like a gentle breeze”.
      70 words
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  • COMPANIES
    • Article, Illustration
      Lock icon Prepare for more twists in Parkway saga
      1130 10  -  Depending on actions of Khazanah, Fortis and shareholders, one of 5 outcomes may occur. By Nisha Ramchandani corporate focus By Nisha Ramchandani nishar@sph.com.sg IN THE three weeks or so since Malaysia’ssovereign wealthfund Khazanah Nasional made a surprise $1.18 billion partial offer to gain
      FILE PHOTO  -  1,130 words
    • Article
      Lock icon FSL Trust vessel released from seizure
      413 11  -  By Jamie Lee leejamie@sph.com.sg Singapore ONE of the two seized vessels owned by First Ship Lease (FSL) Trust has been released, after the trust posted bail of about US$1.6 million with the Japanese court, the company said yesterday. However, the vessel, Verona I, is
      413 words
    • Article
      Lock icon Teledata (Singapore) terminates services of CEO
      443 11  -  He is accused of ‘acts tending to bring the company and/or himself into disrepute’ By Felda Chay feldac@sph.com.sg Singapore TELEDATA (Singapore) has terminated the services of its chief executive officer Christopher Pan with immediate effect. In an announcement yesterday, the IT and communications group
      443 words
    • Article
      Lock icon Eastern to net $26m from sale of business
      357 11  -  By Teh Shi Ning tshining@sph.com.sg Singapore EASTERN Holdings will make a gain of $26 million, after minority interest, from the proposaled sale of its exhibition business to Sphere Exhibits, a subsidiary of Singapore Press Holdings (SPH). Disclosing this yesterday in response to
      357 words
    • Article
      Lock icon Halcyon buys cable supply firm for $30m
      225 11  -  By Felda Chay feldac@aph.com.sg Singapore PRIVATELY held Halcyon Offshore is acquiring offshore cables supply group Cables International (CI) from King Wan Corporation and CI’s management for $30 million. The move is part of its plan to extend its service offerings and expand its
      225 words
    • Article, Illustration
      Lock icon Otto Marine making investors’ mark
      970 12  -  Deeper institutional interest follows research coverage under the SGX Equity Research Insights scheme By Mint Kang btworld@sph.com.sg Singapore OF all the preconceptions investors hold about the offshore and marine industry, the one that bothers companies the most may be the assumption that all marine companies
      970 words
    • Article, Illustration
      Lock icon Penny stocks feature as World Cup kicks off
      515 13  -  stocks R Sivanithy sivan@sph.com.sg Senior correspondent THEWorldCupsoc-cer in South Africa made for poor volume and muted activity, as punters turned their attention and probably their betting energy from stocks to football. Mind you, it’s not as if the quality of play was
      515 words
    • Article
      Lock icon TOP 20 ACTIVES
      110 13 VOL CLOSE Armstrong 57,335 45.5 2.5 5.8 GentingSP 54,200 114 2.0 1.8 Z-ObeeHldgs 45,671 43 0.5 1.2 DMXTech 28,983 36 5.5 18.0 BakerTech 25,629 42 1.0 2.4 UniEnvtech 24,257 36.5 1.5 4.3 SingTel 20,876 310 4.0 1.3 GoldenAgri 18,037 54 0.0 0.0 PacificCentury 15,333 17 -1.0 -5.6
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    • Article
      Lock icon STI STOCKS
      107 13 Stock name Close Change CapMallsAsia 2.160 CapitaLand 3.700 -0.030 CapitaMall 1.870 -0.030 CityDev 10.540 -0.020 ComfortDelGro 1.450 +0.020 DBS Grp 13.580 -0.140 F&N 4.980 +0.040 Genting SP 1.140 +0.020 Golden Agri 0.540 HK Land 4.840 -0.220 JMH 36.180 -0.320 JSH 20.180 -0.400 Jardine C&C 31.000 +0.620 Keppel Corp
      107 words
    • Article, Illustration
      Lock icon Keppel unveils eco-development masterplan
      190 13 THE Keppel Group yesterday unveiled the masterplan of its 36.6-ha eco-development within the SinoSingapore Tianjin Eco-City to Deputy Prime Minister Wong Kan Seng at its newly completed show gallery for Seasons Park. Seasons Park, which comprises about 1,680 homes, will be the first collection of eco
      190 words
    • Article
      Lock icon TOP GAINERS
      61 13 BY CENTS CLOSE UP GLD 10US$ ***** 181.5 1.1 Jardine C&C 3100 62.0 2.0 DBXT SPASX200 10US$ 2797 45.7 1.2 UOB.ES.1006 1964 42.0 2.2 DBXT FTVietnam 10US$ 4434 40.2 0.7 DBXT MSINDO 10us$ 1186 38.8 2.4 Lyxor EmergingMkts 1 964 26.3 2.0 CIMBAsean40 100US$ 845 20.8 1.8 Lyxor
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    • Article
      Lock icon TOP LOSERS
      52 13 BY CENTS CLOSEDOWN JSH 2018 -55.4 -1.9 SIA.ES.1006 1432 -48.0 -3.2 JMH 3618 -44.3 -0.9 OUE 1154 -44.0 -3.7 SIA 1426 -34.0 -2.3 SIA 200 1432 -34.0 -2.3 HK Land 484 -30.5 -4.3 DBS.ES.1006 1366 -28.0 -2.0 Asia Pac Brew 1428 -16.0 -1.1 DBXT S&P Short 10US$ 5248
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    • Article
      Lock icon Cosco confirms two bulk carrier contracts
      167 13 COSCO Corporation said yesterday that two bulk carrier shipbuilding contracts it secured earlier are now effective after shipowners paid the initial deposits. The two are among US$440 million worthof bulk carrierorders which Cosco’s subsidiaries won from four European shipowners, and announced earlier this week.
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  • Page 11 Advertisements
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      Lock icon Page 11 Advertisements Column 1
      38 11 Woodlands Industrial Park E1 Corner Terrace »Built-in 23,000 sq-ft (5 Floors) •Land area 10,000 sq-ft Balance 45 years r Tenanted $444,000 p.a. (3yrs) 1 fS I •Asking $4.5 million 10% Yield ai DTZ INTERESTED CALL: 8157 7568 (ROY)
      38 words
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  • Page 12 Advertisements
    • Advertisement
      Lock icon Page 12 Advertisements Column 1
      80 12 Hurry!Only8,000spotsleft the new paper BigWalk Register this weekend (June 19 and 20) at any of the following venues: The Singapore Flyer, Sky Deck (car park rooftop) FairPrice Finest at Marine Parade Central FairPrice Supermarket at Clementi Ave 3 FairPrice Supermarket atToa Payoh Lorong 6 Time: 11am to 8pm Fee: $10
      80 words
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      Lock icon Page 12 Advertisements Column 2
      17 12 This article first appeared in the June edition of Pulses, a publication produced by The Business Times
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon The return of the house call
      947 14  -  A doctor’s diagnosis, a specialist’s consultation, anytime, anywhere? Healthcare could soon reach its 21st century potential, as we advance in the networked age from the desk of Irving Tan Managing director Cisco Singapore and Brunei THEnetworkhasbe-come a daily staple for most of us, as
      947 words
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  • SINGAPORE
    • Article
      Lock icon NTUC LHUB revamps campuses
      139 15 NTUC LearningHub (LHUB) yesterday announced a structural revamp involving four campuses to improve services to companies and workers. The new structure covers LHUB’s continuing education and training (CET) system aimed at individuals and corporate teams, as well as training consultancy services. It will help the company
      139 words
    • Article
      Lock icon Employer branding taking on greater significance: HR specialist
      353 15  -  Treat your employees like your customers, says AYP Associates MD By Eileen Tay eiltay@sph.com.sg AGAINST the backdrop of a recovering economy, employer branding is increasing in importance as more job opportunities drive companies to compete for skilled labour, according to a recruitment
      353 words
    • Article
      Lock icon Far East, Frasers Centrepoint put in top bid for Yishun site
      395 15  -  Duo’s joint bid is 17% above the only other offer from GuocoLand for the condo plot By Uma Shankari shankari@sph.com.sg FAR East Organization and Frasers Centrepoint jointly submitted the higher of two bids for a condo site at Yishun
      395 words
    • Article
      Lock icon ‘Take your kids to work’ catching on
      132 15 FIFTY-FOUR companieshave already joined “Little Ones Work” a programme organised by the NTUC Women’s Development Secretariat (WDS) to promote work-life integration. And more companies are expected to support the initiative. Officially launched in June last year, the programme aims to encourage children to
      132 words
    • Article, Illustration
      Lock icon New tenant turning Alkaff Mansion into Italian restaurant
      544 16  -  LES comprising LHN, US citizen Tanaka and Italian chef Piegaia lands property with highest bid of $79,251 rent per month By Kalpana Rashiwala kalpana@sph.com.sg ALKAFF Mansion at Telok Blangah will get a new lease on life as an Italian restaurant that could
      544 words
    • Article
      Lock icon Get an eyeful at Sands SkyPark on June 24
      235 16 Visitors will be able to learn about its construction through a free audio guide MARINA Bay Sands is scheduled to open its Sands SkyPark to the public at 2pm on June 24. Singapore’s newest architectural marvel, with a 67-metre observation deck,
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    • Article, Illustration
      Lock icon More overseas participants flock to event
      765 17  -  They made up 56% of those who attended, up from 49% last year CommunicAsia2010 and BroadcastAsia2010| By Amit Roy Choudhury amit@sph.com.sg THIS year’s CommunicAsia2010 and BroadcastAsia2010, which ended yesterday, saw 4,000 more overseas visitors over last year. More than 55,150 local and international industry
      765 words
    • Article, Illustration
      Lock icon Bringing a taste of the Big Apple here
      591 18  -  With an eye on expanding outside Singapore, restaurant chain nydc decided it had to tweak its image to reflect a universal ‘big city’ theme that many people will identify with By Abigail Kor abigailk@sph.com.sg AFTER 15 years in business, restaurant chain nydc
      ARTHUR LEE  -  591 words
    • Article
      Lock icon YOG athletes, officials to get smoother ride
      258 18  -  By Eileen Tay eiltay@sph.com.sg THE Singapore Youth Olympic Games Organising Committee (SYOGOC) has introduced a technology operations centre and Youth Olympic Lane. SYOGOC and Atos Origin the worldwide IT partner for the Olympics announced the official opening of the tech operations centre yesterday.
      258 words
  • Page 15 Advertisements
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      Lock icon Page 15 Advertisements Column 1
      19 15 Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg.
      19 words
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      Lock icon Page 15 Advertisements Column 2
      28 15 fr&tk Lianhe Zaobao Tenants to cease business at end of Nov Ten Mile Junction may be demolished rebuilt 811 +nirts«pnj?jite<ik To subscribe, call 6388-3838 or go to sphsubscription.com.sg
      28 words
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  • WORLD
    • Article, Illustration
      Lock icon Serbia beats 10-man Germany 1-0
      577 19 The US rallies from two goals down at halftime to salvage a 2-2 draw with Slovenia world cup AP Reuters Port Elizabeth MILAN Jovanovic scored one minute after Germany striker Miroslav Klose was sent off yesterday, giving Serbia a 1-0 win over the three-time World
      AP; Reuters  -  577 words
    • Article
      Lock icon China’s growth a matter of concern for US, allies: poll
      243 19 AFP Washington CHINA’S growing economic and military clout is a matter of concern in the United States and its allies including Japan and France, according to a Pew Research Center poll released on Thursday. China’s emerging military power was considered
      AFP  -  243 words
    • Article
      Lock icon G-20 nears deal on deficit reduction targets
      319 19 AP Toronto CANADA’S finance minister said on Thursday the Group of 20 leading rich and developing nations hope to announce an agreement on deficit reduction targets at next week’s economic summit in Toronto. Finance Minister Jim Flaherty told The Associated Press in an
      AP  -  319 words
    • Article, Illustration
      Lock icon Tokyo charts economic recovery course
      738 20  -  Strategy aims at dislodging entrenched deflation and achieving annual inflation of around one per cent By Anthony Rowley btworld@sph.com.sg Tokyo JAPAN’S government yesterday unveiled its strategy forrescuingtheworld’ssecond largest economy from a long period of stagnation and restoring it to more robust health. The plan, which
      REUTERS  -  738 words
    • Article
      Lock icon SEC unveils thresholds for cancelling trades
      373 20 AP Washington FEDERAL regulators on Thursday put forward proposed new rules spelling out when and at what prices stock trades would be cancelled, in a response to last month’s “flash crash” in the market. The Securities and Exchange Commission said that it was publishing
      AP  -  373 words
    • Article, Illustration
      Lock icon China tells G-20 yuan value is an internal matter
      456 21 Markets are expecting the issue to come up at next week’s Group of 20 summit in Canada Reuters Beijing CHINA told the rest of the world yesterday not to meddle with the way it manages the yuan, calling the exchange rate
      Reuters; BLOOMBERG  -  456 words
    • Article
      Lock icon Financial resolve pays off for Madrid
      519 21 The Bank of Spain will publish ‘stress tests’ on the ability of its banks AFP Madrid SPAIN’s embattled government emerged yesterday from a tumultuous week, in which rumours flew of a bailout, with an IMF vote of confidence and a plan to convince sceptical
      AFP  -  519 words
    • Article, Illustration
      Lock icon World Bank says China’s economy slowing
      648 22 It forecasts growth at 9.5 per cent this year and 8.5 per cent in 2011, with ‘risks both ways’ AP Shanghai CHINA’Seconomyisshowing signs of softening after its strong stimulus-fuelled rebound last year, the World Bank says in its latest quarterly update. Industrial production and
      AP; AP FILE PHOTO  -  648 words
    • Article
      Lock icon Mitsui Sumitomo steps up M’sia presence
      351 22 Reuters Kuala Lumpur MALAYSIA’S Hong Leong Financial Group is to merge its non-life insurance business with Japan’s Mitsui Sumitomo Insurance Co and sell a stake in its life business in deals worth about US$480 million. The merged group would become Malaysia’s second largest general
      Reuters  -  351 words
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  • SGX
    • Article
      Lock icon Untitled
      8825 23 Transaction date: Jun 18 Transaction date: Jun 18 Transaction date: Jun 18 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 18 7 3148 8Telecom 15.5 +0.5 149 15.5 15.5 15 15.5 1.7 11.7
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    • Article
      Lock icon SGX CATALIST
      1765 26 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 10 5 1181 t AA Grp 6 5 7 33.3 5.8 25 13 8538 t APStrategic 18 +1.5 ***** 18 16.5 16.5 18
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 9 3 0 0 0 4 9 3 Manufacturing 47 34 81 5 7 7 52 41 88 Commerce 18 18 25 2 5 5 20 23 30 Tpt/Stor/Comms 11 13 18
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      834 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Jun 14 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Fujian Zhenyun Plas 16-Jun-10 Lakeview Invest Grp LLC Sell 1189 na ***** 8.92 9076 7.89 Sapphire Corp
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      119 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 17,752 17,752 53,933 53,933 Manufacturing 228,965 12,926 241,891 149,876 833 150,708 Commerce 67,667 7,402 75,069 66,940 1,963 68,904 Tpt/Stor/Comms 86,708 445 87,153 211,303 60 211,362 Finance 48,262 48,262 167,012 167,012 Construction 11,172 3,441 14,613 2,139
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  • MARKETS
    • Article, Illustration
      Lock icon STOCK MARKETS
      91 27 YTD change: -2.22% 52-week high: 3,037.97 on April 15,2010 52-week low: 2,211.81 on June 23,2009 Source: Bloomberg YTD change: -7.25% 52-week high: 23,099.50 on Nov 18,2009 52-week low: 17,185.90 on July 13,2009 Source: Bloomberg YTD change: +0.06% 52-week high: 11,258.00 on April 26,2010 52-week low: 8,087.19 on July
      Source: Bloomberg  -  91 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      374 27 In local curr In S$ In US$ dy yr dy yr dy yr Jun 17 Index Change Change Change Change Change Change World Index Preliminary 816.8 -0.1 -1.9 -0.1 -5.7 0.0 -4.9 ‡EAFE Preliminary 754.8 0.0 -3.8 0.2 -11.2 0.3 -10.5 Europe Preliminary 1090.2 0.2
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 27 Jun 18 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2047 1.2063 0.8697 0.8700 Canadian dollar 1.3480 1.3500 0.9731 0.9737 Euro 1.7179 1.7200 1.2402 1.2405 NZ dollar 0.9773 0.9785 0.7055 0.7057 Sterling pound 2.0602 2.0627 1.4873 1.4877
      154 words
    • Article
      Lock icon LIFFE
      82 27 Jun 17 COCOA (£/tonne) Close Prev High/Low Jul 10 2418 2430 2434/2410 Sep 10 2308 2318 2325/2283 Dec 10 2238 2248 2255/2216 Mar 11 2206 2212 2209/2185 COFFEE (US$/tonne) Close Pev High/Low Jul 10 1540 1563 1574/1540 Sep 10 1551 1566 1575/1546 Nov 10 1558 1572 1579/1552 Jan 11
      82 words
    • Article
      Lock icon CHICAGO BOT
      105 27 Jun 17 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jul 10 952.00 957.75 964.00 951.00 Aug 10 944.25 944.75 950.75 939.00 Sep 10 931.25 930.00 936.75 925.00 Nov 10 925.00 924.50 931.00 920.00 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Jul 10 38.05 38.13 38.14
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    • Article
      Lock icon PALM OIL
      64 27 Jun 18 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 10 2477 2470 2490 2466 1018 9481 Aug 10 2435 2430 2450 2424 2349 ***** Sep 10 2400 2400 2420 2395 6616 ***** Oct 10 2386 2386
      64 words
    • Article
      Lock icon OIL
      75 27 Jun 17 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 78.78 1.60 WTI (Near Mth) 76.55 -1.08 Dubai (1-Mth F) 76.89 1.46 Tapis blend 82.40 1.85 Minas 81.55 1.45 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 74.77 2.55 Jet Kerosene 88.50 1.15 US$/barrel Opec Oil Basket Price
      75 words
    • Article
      Lock icon METALS
      67 27 Jun 18 GOLD (US$/oz) Jun 18 Jun 17 Hong Kong 1244.*****1.80 Jun 17 Jun 16 London 1245.*****2.85 1246.*****3.35 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 26.16 25.93 Source: UOB PLATINUM Lon (US$/oz) Jun 17 Close Previous PM Fix 1577.*****8.00 AM Fix 1565.*****7.00 Source: Thomson Reuters PLATINUM /NYMEX
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    • Article
      Lock icon LONDON METALS
      73 27 Jun 17 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1935.50 1973.75 3 months 1966.00 2005.00 Copper, Grade A (US$/tonne) Cash 6419.50 6623.25 3 months 6446.00 6650.00 Lead (US$/tonne) Cash 1741.50 1737.75 3 months 1764.00 1760.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon Saving the Indian tiger
      1067 28  -  Without active intervention by government and society, the majesty and fearful symmetry of this magnificent beast may disappear from Indian forests forever. By Prakash Pillai By Prakash Pillai The writer is a partner in the law firm Rajah Tann LLP and coordinates the firm’s South Asia
      AFP  -  1,067 words
    • Article, Illustration
      Lock icon Austerity measures a huge mistake
      836 28  -  Paul Krugman The writer is a professor of economics and international affairs at Princeton University, and winner of the Nobel Prize in economics in 2008 NYT Berlin SUDDENLY, creating jobs is out, inflicting pain is in. Condemning deficits and refusing to help a still-strug-gling economy
      NYT  -  836 words
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Gold: The eternal currency
        1080 30/31  -  It is the favoured asset class in both inflation and deflation scenarios, even though in the latter case, it will not make a lot, but it will be better than equities Genevieve Cua gen@sph.com.sg Personal Finance Editor IN early 2000, strategists who recommended a holding in
        Source: Reuters EcoWin, UBS WMR, as of May 2010; BT FILE PHOTO  -  1,080 words
      • BROKERS' TAKE
        • Article
          Lock icon Shipbuilding-Yangzijiang & Cosco
          296 30/31 Shipbuilding-Yangzijiang Cosco Buy DBS Group Research Jun 18 Close: S$1.80 New orders for bulk carriers in May 2010 hit a high of 7.8 million tonnes, up from 7.1 million tonnes in April. This is the highest monthly order figure achieved post-Sept 2008 financial crisis. The average orders of over seven
          296 words
        • Article
          Lock icon KS Energy Services
          438 30/31  -  Hold OCBC Investment Research Jun 18 Close: S$1.11 Compiled by Conrad Tan ConsistentwithKSEnergyServices’earlier statement that it was in advanced negotiations for new charters, the group has announced newly secured work for its rigs. First, there is a US$12 million contract extension for its 1,500 horsepower (hp) land
          438 words
      • Article, Illustration
        Lock icon Dividends look safe, until they’re not
        1091 32 The moral of the story, as always, is to diversify within each asset class you own, the more sources the better wealth insights NYT New York IF you own BP shares and rely on the dividends for your retirement income, you now matter less
        NYT; STOCK EXCHANGE  -  1,091 words
      • Article, Illustration
        Lock icon Don’t bet too much on BP
        1331 33  -  Markets typically overreact to bad news but given the amount of uncertainties, it could be a good call show me the money Teh Hooi Ling hooiling@sph.com.sg Senior correspondent The writer is a CFA charter holder IS now an opportunity to buy into BP on
        STOCK EXCHANGE  -  1,331 words
    • WEALTH REAL ESTATE
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  • Page 34 Advertisements
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      Lock icon Page 34 Advertisements Column 1
      73 34 Featuring the Prestige Homes Collection What a privilege it is to come home to your very own island. For enquiries 011 Sandy Island, please call George Tan 9792 8913 For general enquiries, kindly call 6836 6888 To arrange for an appointment, please call 6836 3338 or search with us at
      73 words
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  • Page 36 Advertisements
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      Lock icon Page 36 Advertisements Column 1
      28 36 M iUDEMARSPlGUET Le maitre de I'horlogerie depuis 1875 J VXD 9 si?' JU J w SSSK3 JULES AUDEMARS EQUATION OF TIME For enquiries, Tel (65) 6238 6678 www.audemarspiguet.com
      28 words
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      43 1 LivingTHEBUSINESSTIMESWEEKEND|JUNE19-*****0BTTHE BUSINESS TIMES WEEKEND JUNE 19-20 2010 GO EAST High velocity Asian brands L2-4 SHOPPING Go, Dad! L6-7 DESIGN Light years ahead L10-11 GADGETS Beyond vanilla phones L12-13 FATHER'S DAY For giving L14 PHOTO: SUPPORT DINING Bar food L8-9 MOTORING Super Saab L18-19
      43 words
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  • BT Living
    • STYLE
      • Article, Illustration
        Lock icon GO EAST
        2945 2/3  -  As Asian consumers of fashion grow more sophisticated, many are turning to brands born in Asia for their fix of finely-tuned designer aesthetic, high quality, and approachable price points. By Melissa Lwee By Melissa Lwee mellwee@sph.com.sg FIRST, it was the Asians that started to make their mark in
        2,945 words
    • SHOPPING
      • Article, Illustration
        Lock icon Man’s best friend
        1037 5  -  Male skin is as prone to signs of aging as women’s, and an anti-aging product could be just what a man needs. By Melissa Lwee By Melissa Lwee mellwee@sph.com.sg WOMEN may be from Venus and men from Mars but when it comes to aging, it makes no
        1,037 words
      • Article, Illustration
        Lock icon GO, DAD!
        853 6 / 7  -  Celebrate Father’s Day and your favourite football team at one (credit card) swipe, with these World Cup country-themed gifts. No vuvuzelas included, we promise. By Audrey Phoon By Audrey Phoon GERMANY Novero TheTalkyOne Bluetooth speakerphone US$139 from amazon.com This World Cup, the Germans have not only been efficient
        BOTTEGA VENETA PHOTO BY YEN MENG JIIN  -  853 words
    • DINING
      • Eat, drink, be merry
        • Article, Illustration
          Lock icon Mulligan's
          549 8 / 9  -  #B-1-215 to #B1-218 The Forum, Basement 1 Resorts World 39 Artillery Avenue, Sentosa ?6686 2343 www.mulliganspubs.com By Geoffrey Eu btnews@sph.com.sg IRISH eyes are smiling on homegrown pub Mulligan’s these days and not just because business is good. Now that World Cup fever is sweeping the galaxy, Mulligan’s is also
          549 words
        • Article, Illustration
          Lock icon TaKe
          610 8 / 9  -  Level 2 Studio M Hotel 3 Nanson Road ?6808 8852 BT Weekend checks out three bars that unlike most others serve food that can fill your stomach as well as drinks that will keep your spirit up By Audrey Phoon aphoon@sph.com.sg IN the world of design and construction, bamboo
          PHOTOS BY JOHN HENG; YEN MENG JIIN  -  610 words
        • Article
          Lock icon The Club Tapas
          551 8 / 9  -  The Club 28 Ann Siang Road ?6808 2188 www.theclub.com.sg By Geoffrey Eu THERE'S nothing quite like walking into a crowded bar in, say, Barcelona or Madrid or San Sebastian, navigating your way past the throngs to the front of the counter, picking a couple of simple yet
          551 words
    • DESIGN
      • Article, Illustration
        Lock icon LIGHT YEARS AHEAD
        1748 10 / 11  -  Two visionary designers blaze a trail into the future of lighting. By Lim Sio Hui design By Lim Sio Hui btnews@sph.com.sg HEhascollaboratedwiththeworld’sbig-gest architects on some of today’s most iconic buildings, but looking at the masterpieces in the dark, what takes your breath away is likely to be
        PHOTOS OF GALLERIA HALL WEST, SEOUL, 2003-2004, UN STUDIO AND STAR PLACE, KAOHSIUNG, 2008, UN STUDIO BY CHRISTIAN RICHTERS  -  1,748 words
    • GADGETS
      • Article, Illustration
        Lock icon BEYOND PLAIN VANILLA
        919 12 / 13  -  Flavours of the week are new models of niche phones launched at and around CommunicAsia. By Christopher Lim limchris@sph.com.sg SOMETIMES, a jack-of-all-trades phone just can’t match something more specialised. And that’s what many phone makers were counting on at the annual CommunicAsia 2010 expo this week and
        919 words
      • Article
        Lock icon wine & dine with BTWeekend
        936 12 / 13 wine dine with BTWeekend Triple Three Level 5 Mandarin Orchard Singapore 333 Orchard Road ?6831-6288 Triple Three is back. Named for the address of the hotel 333 Orchard Road it features a new Japanese-inspired international buffet spread, helmed by Japanese Executive Chef Shigeru Akashi. Embark on a culinary adventure with
        936 words
    • FATHER'S DAY
      • Article, Illustration
        Lock icon For giving
        873 14  -  There’s more meaning in these choices than a pricey necktie or anything Hallmark could come up with. Happy Father’s Day! By Nicholas D Kristof By Nicholas D Kristof NYT NO more neckties! Sunday is Father’s Day, and we dads will be overwhelmed with neckties and wrench sets. We
        NYT  -  873 words
    • HEALTH
      • Article, Illustration
        Lock icon Quicker diagnosis for heart attack victims
        688 15  -  New tests are able to detect heart-related risks much faster, thus enabling earlier treatment. By Cheah Ui-Hoon uihoon@sph.com.sg VICTIMS of heart attacks can now have their condition accurately diagnosed within threeto fourhoursafter they’readmitted to the hospital upon feeling chest pains or shortness of breath.
        FILE PHOTO  -  688 words
    • SPORT
      • Article, Illustration
        Lock icon Memories are made of these
        818 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Acting Deputy Foreign Editor THE 2010 World Cup is only a week old, but has already produced a hatful of memorable moments that will be talked about long after the tournament is over. Twenty-two matches have been played so
        AFP  -  818 words
      • Article, Illustration
        Lock icon Taming the Tiger?
        486 16  -  tee off with colette wong Colette Wong IT’S back the US Open Championship returns to picturesque Pebble Beach in California for the first time since Tiger Woods’ dazzling, record-brea-king and awe-inspiring victory in 2000. Woods demolished the field that year and clinched his third career Major by
        486 words
    • GOLF
      • Article, Illustration
        Lock icon Growing golf the Callaway way
        1229 17  -  The firm’s South-east Asia chief aims to strengthen its partnerships with key distributors and retailers in the region. By Justine Moss region.By Justine Moss btnews@sph.com.sg WHEN a top executive for Callaway Golf relocates to South-east Asia next month, one of his first priorities will be
        1,229 words
    • MOTORING
      • Article, Illustration
        Lock icon SUPERB SAAB
        788 18/19  -  The Swedish carmaker calls the second-generation 9-5, thirteen years in the making, the most sophisticated and technically advanced car it has ever produced. Samuel Ee agrees Samuel Ee THE last time a new Saab 9-5 was introduced to the world, the British were returning Hong Kong to China
        788 words
      • Article
        Lock icon Scandinavian high-tech
        475 18/19  -  By Samuel Ee samuelee@sph.com.sg SAAB calls its 9-5 the progressive Scandinavian alternative to the conventional luxury sedan stereotype and it isn’t wrong, even though the car was developed by General Motors. From its smooth, sculpted lines to its traditional curved dashboard and latticed air vents, the new 9-5
        475 words
      • Article, Illustration
        Lock icon Baby X
        276 20  -  It’s small and cool with sporty styling to target a younger set of buyers. By Samuel Ee By Samuel Ee THERE is a new addition to BMW’s X range of sport activity models and it’s smaller but cooler. The compact model is called X1 and it is shorter
        276 words
      • Article, Illustration
        Lock icon The return of a rubber legend
        418 20  -  By Samuel Ee samuelee@sph. com.sg THE legendary Cinturato name will once again be used on a Pirelli high-performance tyre. The Italian tyremaker introduced Cinturato in the 1950s and it quickly achieved a reputation for having high-speed and high-grip qualities. Cinturato is Italian for “belted”
        418 words
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