The Business Times, 9 July 2010

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Total Pages: 34
1 34 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 123/08/2009 Friday, July 9,2010
    23 words
  • 863 1  -  Portfolio hits new peak as Temasek prepares to deepen Asian affair even further Reports by LYNETTE KHOO [SINGAPORE] Temasek Holdings, whose portfolio value climbed to a new high in the latest fiscal year, has found its focus on Asia paying off handsomely in
    Source: Temasek Holdings  -  863 words
  • 217 1 TEMASEK Holdings chief executive Ho Ching is not leaving Temasek any time soon. “Ho Ching is our CEO. She is continuing as CEO and succession is part of our ongoing institutional process which will take place as and when it is the right time,”
    217 words
  • 141 1 ?ST INDEX 2,897.15 (+36.12) ?ST INDEX FUTURES 2,897 (+36) ?SIMSCI 341.86 (+5.07) ?SIMSCI FUTURES 342.20 (+6.40) FOREX US$ S$ US$ (S$ per US$) 1.384 (US$/S$ per 1.517 2.100 EURO (US$/S$/E) 1.265 1.751 Foreign currency per US$ S$ YEN 88.30 63.80 RM 3.204 2.315 HK$ 7.789 5.629 BAHT 32.43
    141 words
  • 670 1  -  Mainframes continue to anchor bank systems, but why didn’t redundancy measures kick in? By WINSTON CHAI [SINGAPORE] A malfunction at the very heart of the bank’s technology infrastructure may have triggered the unprecedented systems failure that DBS Bank suffered early this week, sorces
    670 words
  • Page 1 Advertisements
    • 93 1 OPINION US an unlikely free-trade cheerleader PAGE 22 GLOBAL ECONOMY Strong recovery but dangers ahead: IMF PAGE 2 WINE What makes it interesting PAGE 30 EXECUTIVE LIFESTYLE Business scores big time PAGE Commentary: The tough financial world that Temasek inhabits, Page 4 More reports, Page 4 8 '*****1 *****4 m
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  • TOP STORIES
    • 640 2  -  Michael Hwang to step down following Dubai appointment By MICHELLE QUAH [SINGAPORE] Prominent lawyer Michael Hwang is stepping down as president of the Law Society of Singapore (LawSoc), the representative body for all lawyers here, in a move that’s expected to
      640 words
    • 423 2  -  Parkway shares continue climb, rising up to 10 cents above rivals’ bids By NISHA RAMCHANDANI [SINGAPORE] Khazanah Nasional has extended the closing date for its $1.18 billion partial offer for Parkway Holdings from July 8 to July 26, keeping the battle for Parkway
      423 words
    • 574 2  -  More demand, more money but it’s also a tougher job now By EMILYN YAP [SINGAPORE] Private bankers are not the only ones playing musical chairs these days. Their less glamourous counterparts compliance officers are also getting into the game as
      574 words
    • 826 2  -  The Greek crisis highlights need for fiscal tightening By ANTHONY ROWLEY THE global economy, led by emerging markets, is still on track for a fairly strong overall recovery this year and in 2011. But the road ahead is strewn with an unusually large
      AFP  -  826 words
    • 451 2 Temasek’s Asia romance fattens wallet TEMASEK Holdings, whose portfolio value climbed to a new high in the latest fiscal year, has found its focus on Asia paid off handsomely in shareholders’ returns. FRONT PAGE Mainframe glitch caused DBS outage? A MALFUNCTION at the very heart of the bank’s
      451 words
    • 586 4  -  It’s not the first, and won’t be the last, that does not get every decision right COMMENTARY By SIOW LI SEN MARKETS have recovered and along with them, Temasek’s performance. But it was a subdued team that announced the Singapore investment company’s latest
      586 words
    • 571 4  -  It could eventually take in institutional and public investors By LYNETTE KHOO [SINGAPORE] SeaTown Holdings, a new investment outfit set up by Temasek, will be a test-bed to explore how to allow the Singapore public to co-invest with the investment firm. It is taking
      BLOOMBERG  -  571 words
    • 462 4  -  Compensation framework tested and shown to work By SIOW LI SEN [SINGAPORE] Temasek’s bonus pool has been wiped out due to negative performance during the financial crisis though it continues to pay market competitive salaries. And since the pool turned negative during the crisis,
      Source: Temasek Holdings  -  462 words
    • 449 4 Expected decision comes amid concerns over health of banking sector AP [BERLIN] The European Central Bank (ECB) left its benchmark interest rate unchanged at a record low of one per cent for the 14th consecutive month yesterday amid lingering concerns over the
      AP  -  449 words
  • Page 2 Advertisements
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  • COMPANY NEWS
    • 403 6  -  The two exchanges aim to explore opportunities in Asia By CHEW XIANG THE London Metal Exchange (LME) and the Singapore Exchange (SGX) are in talks to explore undisclosed opportunities in Asia. “This relationship will allow both exchanges to maximise their potential in a number
      BLOOMBERG  -  403 words
    • 379 6  -  By KAREN NG CHINA-BASED company Leader Environmental Technologies Ltd has launched its initial public offering (IPO) for a Singapore Exchange mainboard listing. The group is a one-stop environmental protection solutions provider for industrial waste gas and wastewater emissions. The offering, which opens today, consists
      379 words
    • 305 6  -  Also, SGX mutual offset with CME to cover Nifty futures By FELDA CHAY THE Singapore Exchange (SGX) yesterday signed a memorandum of understanding (MOU) with China’s Suzhou Industrial Park (SIP) to promote the listing of companies from SIP and other parts of
      305 words
    • 369 8  -  They emerge from recession with loyal employees, and find hiring talent easier By TEH SHI NING TOP global companies are better than their peers at effectively engaging employees and are thus emerging from the recession with employees more loyal than before,
      BLOOMBERG  -  369 words
    • 494 8 CapitaMalls M’sia Trust is scheduled to list on July 16 Bloomberg [KUALA LUMPUR] CapitaMalls Asia Ltd (CMA), owner of shopping malls in the region, said it priced shares of its Malaysian unit at the low end of its projected range, raising investor
      Bloomberg  -  494 words
    • 395 8 Reuters [TOKYO] London-based ETF Securities hopes to increase the total asset value of its exchange-traded funds (ETFs) offered in Japan by fivefold to US$1 billion in the next 12 to 18 months, a company executive said yesterday. It is also looking for opportunities to
      Reuters  -  395 words
    • 261 8 METAX Engineering Corporation said yesterday that it has been served with a writ of summons filed by Goldharvest Pte Ltd. The writ was filed against Metax and WS Bioengineering Pte Ltd (WS Bio), which is 79.2 per cent owned by Metax and 20.8
      261 words
    • 415 11  -  SMRT shares plans for Orchard, Circle Line at launch of Esplanade Xchange By EMILYN YAP SMRT is carving out a new shopping area at Orchard MRT station and plans more such spaces at upcoming stations on the Circle Line. The transport group shared the plans
      415 words
    • COMPANY BRIEFS
      • 65 11 SHC Capital Ltd is placing out 14 million new shares at 10.67 cents each to nine investors. It said the move was to increase its public float, which currently is about 13.9 per cent. The investors include Lam Soon Realty Pte Ltd which
        65 words
      • 83 11 BH Global Marine Ltd said it has submitted an application to the Taiwan Stock Exchange (TSE) and the Taiwan Central Bank to offer up to 60 million new shares for Taiwan Depository Receipts (TDRs). It said the proposed TDR issue will also be also subject
        83 words
      • 73 11 CHINA New Town Development Company has appointed Standard Chartered Bank as the sponsor for its proposed Hong Kong dual listing. Yesterday, the company submitted an application to the Stock Exchange of Hong Kong relating to the proposed listing. The company had earlier announced
        73 words
      • 95 11 INFINIO Group’s auditors have flagged the existence of a material uncertainty which may cast significant doubt over its ability to continue as a going concern. The group incurred a loss of $8.76 million for the financial year ended March 31, and its net cash outflow from
        95 words
    • 451 11 They will likely post first region-wide profit in three years Bloomberg [SINGAPORE] Singapore Airlines Ltd, Cathay Pacific Airways Ltd and other Asian airlines will likely post the first region-wide profit in three years as the economic rebound spurs traffic to pre-recession levels, a trade
      Bloomberg  -  451 words
  • Page 6 Advertisements
    • 603 6 ES GROUP (HOLDINGS) LIMITED (Company Registration No.: *****0497Z) (Incorporated in the Republic of Singapore on 19 August 2004) Placement of 21,200,000 New Shares (“Placement Shares”) at S$0.24 for each Share, payable in full on application (the “Placement”). The Board of Directors of ES Group (Holdings) Limited (the “Company”) is pleased
      603 words
    • 282 6 This announcement appears as a matter of record only 8 July 2010 ES GROUP (HOLDINGS) LIMITED (Company Registration No.: *****0497Z) (Incorporated in the Republic of Singapore on 19 August 2004) Placement of 21,200,000 New Shares at S$0.24 for each Share. Sponsor and Placement Agent COLLINS STEWART PTE. LIMITED (Incorporated in
      282 words

  • Page 7 Advertisements
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  • Page 8 Advertisements
    • 48 8 INDUSTRIAL BLDGS FOR PURCHASE ANY LOCATION Owners please call 9231 3317 Ray Int'l Property Consultants Pte Ltd This announcement appears as a matter of record only. S$500,000,000 1.15% Notes due 2013 issued under HDB’s S$7,000,000,000 Medium Term Note Programme Lead Manager Deutsche Bank AG, Singapore Branch July 2010
      48 words
    • 40 8 THE SIXMONTH PLAN What brides-to-be need to do before their big day INDIA AT THE WORLD CUP Yes, its presence is there on the sidelines and on the pitch GET YOUR COPY TODAY FROM ALL 7-ELEVEN OUTLETS (WHILE STOCKS LAST)
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  • Page 9 Advertisements
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  • SINGAPORE MARKETS
    • 603 10  -  ST Index leaps 36 points or 1.3 per cent on bargain-hunting and short-covering STOCKS VEN SREENIVASAN Senior Correspondent A SHARP rally on Wall Street was just what the doctor ordered for depressed Asian markets. Singapore’s Straits Times Index (STI) jumped 36.12 points or 1.26
      Source: Bloomberg  -  603 words
    • 4 10 DAILY
      4 words
    • 66 10 Jul 8 VALUE CLOSE BT OB/OS -95.00 +278.0 BT CADI -*****.00 +185.0 BT 10-day MA -*****.00 -10.00 FTSE ST Mid Cap 698.17 +7.11 FTSE ST Small Cap 526.53 +7.05 FTSE ST All Share 712.90 +8.67 FTSE ST China Top 260.26 +3.12 FTSE ST China 285.65 -0.99 FTSE
      66 words
    • 58 10 VOLUME Genting SP 137,810,000 Yangzijiang 44,244,000 NOL 44,068,000 Golden Agri 35,685,000 ChinaAniH 35,182,000 Healthway 29,474,000 K-Green Trust 22,898,000 CCM Grp 20,225,000 Bund Center Inv 20,109,000 Noble Grp 19,522,000 VALUE($) Genting SP 162,020,040 NOL 87,350,750 DBS Grp 65,075,580 UOB 65,069,440 Yangzijiang 60,735,640 SingTel 55,644,890 OCBC Bk 52,024,630 Wilmar
      58 words
    • 186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 10 1 6 0 0 0 10 1 6 Manufacturing 81 31 67 9 4 12 90 35 79 Commerce 28 11 23 5 2 1 33 13 24 Tpt/Stor/Comms 23 12 7
      186 words
    • BROKERS’ TAKE
      • 308 10 Genting Singapore July 8 close: S$1.19 Bank of America-Merrill Lynch, July 8 WE lift our earnings forecasts for Genting Singapore and thus raise our sum-of-the-parts based TP to S$1.40, implying 14 times 2011 EV/Ebitda for Resorts World Sentosa (RWS) and 23 per cent upside. Short-term catalysts include the
        Source: Bloomberg  -  308 words
      • 281 10 July 8 close: S$0.75 Citi Investment Research, July 7 WE downgrade to “sell” (from “buy”). The stock began to be re-rat-ed in Q3 2009 after an announcement that it would be listed in Hong Kong. But the listing was pulled last week on weak demand despite the Hong
        281 words
      • 344 10  -  July 8 close: S$6.08 Phillip Securities Research, July 8 Compiled by LYNETTE KHOO WILMAR International has made a swift move to acquire CSR Ltd’s sugar and renewable energy business, Sucrogen, for US$1.47 billion. Completion of the transaction is expect- ed to be around the end of this September.
        344 words
    • 117 10 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 28,297 28,297 72,914 72,914 Manufacturing 309,303 5,548 314,851 257,454 243 257,697 Commerce 71,649 7,002 78,651 97,736 2,624 100,361 Tpt/Stor/Comms 114,291 197 114,488 221,553 7 221,560 Finance 22,009 22,009 202,479 202,479 Construction 22,120 38,809 60,929 5,059
      117 words
    • 113 10 Stock name Close Change Stock name Close Change CapMallsAsia 2.070 +0.030 CapitaLand 3.630 +0.040 CapitaMall 1.930 -0.020 CityDev 11.000 +0.060 ComfortDelGro 1.490 +0.060 DBS Grp 13.980 +0.180 F&N 5.350 +0.120 Genting SP 1.190 +0.050 Golden Agri 0.540 +0.015 HK Land 4.970 -0.080 JMH 40.500 +1.160 JSH
      113 words
    • 499 10 CURRENCIES Reuters [NEW YORK] The euro hit a twomonth high against the dollar yesterday amid a broad increase in risk appetite after strong Australian data and a larger-than-expected drop in US weekly initial jobless claims. A jump in Australian employment in June drove
      Reuters; BLOOMBERG  -  499 words
    • 111 10 BY CENTS CLOSE UP GLD 10US$ ***** 215.8 1.3 JMH 4050 160.5 2.9 Jardine C&C 3204 104.0 3.4 SIA 200 1512 70.0 4.9 Pru 500US$ 779 41.5 4.0 Lyxor Nasdaq100 10US 718 40.1 4.2 Lyxor US DJIA 10 US$ 1017 40.1 2.9 Lyxor China H 10US$ 1463 29.1 1.5
      111 words
    • 123 10 BY CENTS CLOSE DOWN DBXT S&P Short 10US$ 5497-276.7 -3.5 DBXT FTVietnam 10US$ 4218 -22.1 -0.4 HK Land 497 -11.1 -1.6 OCBC Bk 4.5%NCPS 100 ***** -10.0 -0.1 ABF SG Bond ETF 117 -7.0 -5.6 SingTel 10 296 -7.0 -2.3 STI 3000BNPePW*****9 24.5 -6.0 -19.7 JSH 2300 -5.5 -0.2
      123 words
    • 87 10 Where S$ stands Jul 8 CHNG YR 2010 CLOSE FR Jul 7 S$ LOW S$ HIGH US$ 1.3837 0.53 1.4219 1.3680 Euro 1.7519 -0.17 2.0153 1.6886 Pounds 2.0966 0.24 2.2831 2.0003 A$ 1.2081 -2.65 1.2960 1.1515 Yen* 1.5695 1.63 1.5951 1.4467 Rupiah* 0.***** 0.42 0.***** 0.***** Baht* 4.2680 0.38
      87 words

  • Page 11 Advertisements
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      356 words

  • SINGAPORE NEWS
    • 447 12  -  It also aims to be a hub for science, technology and innovative projects By CHEN HUIFEN AFTER years of being the “world’s factory”, the Suzhou Industrial Park (SIP), together with Suzhou city, is now embarking on a transformation to become the “world’s office”
      447 words
    • 210 12 MORE than 300 senior government officials from the region and beyond will gather here next week for the 13th Annual Meeting of the Asia/Pacific Group (APG) on Money Laundering. Established as a regional organisation in 1997, the APG on Money Laundering will discuss developments
      210 words
    • 243 12  -  By MELISSA TAN HOMEGROWN oil and gas group International Process and Marine Consortium (iPromar) signed a joint venture agreement yesterday with local company Masterscan to set up a company called iMaster. With an initial investment of about $500,000, iMaster will provide supporting services for the
      243 words
    • 356 12  -  By NISHA RAMCHANDANI PFIZER has spent US$100 million expanding its nutrition plant at Tuas making it one of the biggest in the world to meet growing regional demand. A total of US$372 million has been spent on the 91,963 sq m plant, which makes
      BLOOMBERG  -  356 words
    • 247 12 NEW Temasek Holdings subsidiary Singbridge International has shed light on its growth plans, saying it will focus on developing environmentally sustainable and economically viable cities in emerging markets in Asia and the Middle East. In particular, it will look to China as its key market
      247 words
    • 191 12 EV Group (EVG) and the Institute of Microelectronics (IME), a research institute of the Agency for Science, Technology and Research (A*STAR), announced that they have entered into a two-year collaboration to advance 3D integrated circuit (IC) integration technologies yesterday. EVG is a supplier
      191 words
    • SINGAPORE ROUNDUP
      • 53 12 SINGAPORE yesterday became the first country in Asia to ratify the United Nations Convention on the Use of Electronic Communications in International Contracts. The convention seeks to facilitate electronic commerce by providing comprehensive rules to guide the use of electronic communications in the negotiation and formation
        53 words
      • 47 12 THE Institute of Certified Public Accountants of Singapore (ICPAS) yesterday celebrated its membership growing past 22,000. The national accountancy body welcomed about 900 new members in the first half of this year a 40 per cent increase from the same period last year.
        47 words
      • 57 12 IT and network solutions provider NEC Asia-Pacific held a seminar yesterday with International Enterprise (IE) Singapore for industry experts to share their knowledge of the emerging global green economy. IE has identified green infocomm technology (ICT) as a growing area and is collaborating with NEC
        57 words
    • 223 12 NANYANG Technological University (NTU) has announced plans to become a residential campus in the next five years. Under the university’s Campus Master Plan, 5,000 new hostel places will be created by 2015 in order to provide a place to all undergraduates who want
      223 words
  • Page 12 Advertisements
    • 90 12 WINE DINE AND HOSPITALITY INDULGENT WEEKENDS AT PAN PACIFIC SINGAPORE From extravagant all-you-can-eat presentations at Global Kitchen and Brunch to sumptuous dim sum buffet at HaiTien Lo featuring new highlights or delectable Japanese kaiseki at Keyaki and Italian set menus at Zambuca; food aficionados are going to be treated to
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  • ECONOMY WATCH
    • 610 13 3.9% drop in June raises concerns for the overall economy AP [NEW YORK] Affluent Americans went back to tightening their belts in June after months of showing other shoppers how to spend, raising concerns for the overall economy. Data released late on
      AP  -  610 words
    • 652 13 One strategy would be to strengthen language in Fed policy statements LAT-WP [WASHINGTON] Federal Reserve officials, increasingly concerned about signs that the economic recovery is faltering, are considering new steps to bolster growth. With Congress tied in political knots over whether to take
      LAT-WP  -  652 words
    • 210 13 AP [WASHINGTON] The US Federal Reserve said on Wednesday that it will hold a forum next week to explore ways to improve the flow of lending to small businesses. It’s the latest effort by the Fed to tackle the problem, which dates back
      AP  -  210 words
  • Page 13 Advertisements
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      244 words

  • MALAYSIA/INDONESIA
    • 599 14 Govt seeks to monitor companies’ revenue and capital flows to improve tax collection Reuters [JAKARTA] Indonesia plans to issue new rules this year that will require companies to report where and in which banks they expect to put their export earnings, as it
      Reuters  -  599 words
    • 245 14 Bloomberg [KUALA LUMPUR] Malaysia’s central bank raised interest rates for the third time this year, judging the economy is strong enough to withstand higher borrowing costs even as threats to the global rebound increase. The ringgit rose. Bank Negara Malaysia increased its benchmark
      Bloomberg  -  245 words
  • Page 14 Advertisements
    • 1624 14 MATS NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg SKYONEHOLDINGSLIMITED (Compan RegistrationNo:*****2949M) (Incorporated theRepublic Singapore) (the Compan NOTICEOFANNUALGENERALMEETING NOTICEISHEREBYGIVEN that theAnnualGener Meeting theCompan will beheld Nootel SingaporeClar Qua MaceRoom,Le 177ARiv alle Road,Singapore*****1,onWednesda 28 JJuly2010 a.m. ansactthe ollowing usiness:ASORDINAR USINESS .1 1. TToo receiv andadoptthe uditedFinancialStatements theCompan thefinancial earended31 March2010andtheRepor theDirectorsand uditorsthereon. (Resolution
      1,624 words
    • 231 14 INTHEMATTEROF THECOMPANIES 50 AND IN THE MATTER OF RROOBERTMAYRS(ASIA)PTE. TD. (Co. eg. *****0537M) (INMEMBER’S UNTAR LIQUID TION) AAtt anExtraordinar Gener Meeting he member ober Mayr (Asia) Pte. Ltd., duly conenedandheldon July 20 ta t at 1111.00 a.m., Phillip #18-00 Commerce oint, Singapor *****, he following special esolutions duly passed tI
      231 words

  • GREATER CHINA
    • 413 15 Nationwide tax on oil, gas drilling to raise revenue for western region development AP Reuters Bloomberg [BEIJING] China will impose nationwide a tax on oil and gas drilling and other resource industries to raise money for development in poor western regions, an official said yesterday.
      AP; Reuters; Bloomberg  -  413 words
    • 306 15 AFP [WASHINGTON] The United States has ruled out a free trade agreement with Taiwan amid a dispute over beef imports, days after the island signed a sweeping accord with long-time adversary China. Taiwan’s President Ma Ying-jeou has tried to sell
      AFP  -  306 words
    • 155 15 [TAIPEI] Taiwan legislators threw objects, splashed water and kicked one another yesterday, sending two to hospital in a brawl over how fast to ratify a trade pact with China that is shaping up as a pivotal election issue. About a dozen anti-China opposition Democratic Progressive Party (DPP) lawmakers
      AP; Reuters  -  155 words
    • 315 15 ANALYSIS Reuters [HONG KONG] China’s drive to consolidate its fragmented steel sector is set to forge a handful of global giants, turning up the heat on top producers including ArcelorMittal and enabling it play hardball with material suppliers such as Rio Tinto.
      Reuters  -  315 words
  • Page 15 Advertisements
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      141 words

  • INDIA
    • 466 16 Food price index rises an annual 12.63% in the year to June 26 Reuters [NEW DELHI] India’s fuel inflation accelerated in late June and together with the recent hike in fuel prices has kept the case for the central bank to top up
      Reuters  -  466 words
    • 333 16 Serious competition with China for global resources Bloomberg [NEW DELHI] India has formed a group led by Finance Minister Pranab Mukherjee on energy security as the nation competes with China for global resources to meet demand for fuels in Asia’s fastest-grow-ing major economies. “The
      Bloomberg  -  333 words
    • 470 16 Reuters [NEW DELHI] Car sales in India are set to rise 12-13 per cent in 2010-11 on the back of an expanding economy, an industry body said yesterday. But analysts think the forecast is conservative and India, along with China, was one
      Reuters; REUTERS  -  470 words
  • Page 16 Advertisements
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  • ASIA-PACIFIC
    • 697 17 Companies cautious on business outlook on signs of global economic slowdown Reuters [TOKYO] Japanese machinery orders tumbled by the most in almost two years in May as companies grew more cautious about the business outlook due to a rising yen and
      Reuters; AP  -  697 words
    • 496 17 Reuters [SYDNEY] Australian employment blew past all expectations with a rise of 45,900 in June, providing a timely boost to household incomes and spending amid global gloom while reviving the risk of a further rise in interest rates. The Australian dollar jumped half a
      Reuters  -  496 words
  • Page 17 Advertisements
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      57 words

  • ASIA-PACIFIC/WORLD
    • 415 18 Sources say the sale of private equity investments is to Lexington Partners Bloomberg [NEW YORK] Citigroup Inc agreed to sell about US$900 million of pri-vate-equity investments to Lexington Partners Inc, in a plan announced last year to shrink the US bank’s assets, people with
      Bloomberg  -  415 words
    • 532 18 Optimism about economy growing as bloody protests end Reuters [BANGKOK] Consumer confidence in Thailand rose sharply last month as calm returned after the end of bloody political protests in May, with optimism about the economy also growing, according to a university survey yesterday. The
      Reuters; AP  -  532 words
    • 476 18 Poor performance reflects badly on the economic recovery LATEST US DATA Bloomberg [NEW YORK] Americans didn’t go on many shopping sprees in June, resulting in sluggish sales for many retailers. It often took deeply discounted clothing to get shoppers to spend and then only
      Bloomberg  -  476 words
  • Page 18 Advertisements
    • 2367 18 HATS ■2> NOTICES BUY IT- SELL IT- FIND IT Toll free: 1800-289-8822 Email: notices@sph.com.sg LS>/3XUZi\ POWERMATIC DATA SYSTEMS LIMITED (Company Registration Number: *****0414E) (Incorporated in Singapore with limited liability) NOTICE OF TWENTY FIRST ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Twenty First Annual General Meeting of Powermatic Data
      2,367 words
    • 222 18 nI n In thematter the Companies Act, Cap.50 And nI n In thematter TW OILS AND FATS (SINGAPORE) PTE. LTD. (In Compulsory Liquidation) (Company Registration No. *****8032K) (Under the Order for winding up fo f of theCompany dated21May2010 CWUO.S.No.67 2010/A) NOTICE HEREBYGIVENthat the creditors the abovenamed Companyarerequiredon before 10thAugust2010 send
      222 words

  • WORLD
    • 460 19 Euro’s fall in value and global rebound help boost May shipments by 28.8% AFP [FRANKFURT] German exports shot up by the biggest amount for 10 years in May, the national statistics office said yesterday, as the euro’s fall in value and a
      AFP; AP  -  460 words
    • 594 19 PHARMA DEALS Reuters [LONDON] Deutsche Bank is close to a deal with the Icelandic tycoon who owns generic drugmaker Actavis, to slash its crippling multi-billion-euro debt load, sources familiar with the matter said. Any agreement would move the bank closer to resolving a problem
      Reuters  -  594 words
    • 516 19 Shareholders may need some coaxing to accept offer Reuters [JOHANNESBURG] While few investors dispute the logic of Aspen Pharmacare’s bid for Australia’s debt-laden Sigma Pharmaceuticals, qualms about the price on both sides could sink the US$552 million deal. South Africa’s Aspen on
      Reuters  -  516 words
  • Page 19 Advertisements
    • 2108 19 inray isH SUNRAY HOLDINGS LIMITED (Incorporated in Bermuda with limited liability) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Sunray Holdings Limited ("the Company") will be held at RelUnion, Level 2, Hotel Re! Pearl's Hill, 175A Chin Swee Road, Singapore *****9 on Monday,
      2,108 words

  • WORLD CUP
    • 740 20  -  COMMENTARY LEE U-WEN Acting Deputy Foreign Editor WHAT was fast shaping up to be a canter for the Netherlands turned out to be anything but in the end. Watching them squeak their way past Uruguay in the semifinals to advance into their first World Cup
      AFP  -  740 words
    • 912 20  -  COMMENTARY By MALMINDERJIT SINGH IF you were managing one of the teams at the World Cup, would you opt for youth in your squad selection or choose ageing, experienced players? As many of the managers at the World Cup found out, this is a tough call.
      912 words
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  • Page 21 Advertisements
    • 3300 21 Surface MountTechnology (Holdings) Limited Company Registration No. ***** (Incorporated in Bermuda with limited liability) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Surface Mount Technology (Holdings) Limited (the “Company”) will be held at Casuarina, Suite A, Level 3, Raffles Hotel Singapore, 1 Beach
      3,300 words
    • 3732 21 SWING MEDIA TECHNOLOGY GROUP LIMITED (Incorporated in Bermuda on 26 March 2001) Company Registration Number: ***** NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of SWING MEDIA TECHNOLOGY GROUP LIMITED (the “Company”) will be held at 80 Raffles Place, #25-01 UOB Plaza 1, Singapore
      3,732 words

  • EDITORIAL & OPINION
    • 482 22 EDITORIAL THE honour and prestige of hosting the quadrennial Olympic Games is something that countries and cities fight tooth and nail for, pouring resources aplenty into the bid, spending hundreds of millions (sometimes, billions) of dollars to stage what’s arguably the world’s biggest and most
      482 words
    • 808 22  -  THE BOTTOM LINE By AMITY SHLAES The writer, senior fellow in economic history at the Council on Foreign Relations, is a Bloomberg News columnist. The opinions expressed are her own Bloomberg THIS year is supposed to be like 1932. That’s what you would
      Bloomberg  -  808 words
    • 1000 22  -  Powerful unions, environmentalist groups and economic weakness can kill FTA progress LEON HADAR Washington Correspondent FIRST, a few items of good news for the few remaining free-trade fans in Washington. US President Barack Obama and his aides do want to complete a free trade
      REUTERS  -  1,000 words
    • 1200 23  -  China’s shift to vertical growth could create much room for the region’s low-end labour-intensive manufacturing By M SHAHIDUL ISLAM The writer is a research associate at the Institute of South Asian Studies in the National University of Singapore THE 10th National People’s Congress and
      AFP  -  1,200 words
    • 885 23  -  By LEE KUAN YEW The author is Minister Mentor, Singapore. This article first appeared in the July 2010 issue of Forbes magazine Korean Peninsula DESPITE the extreme provocation of North Korea’s torpedoing and sinking a South Korean warship, the South’s response responsible and restrained has been to refer
      BLOOMBERG  -  885 words


  • SHIPPING/AVIATION
    • 492 24 It says container line benefited as freight prices return to pre-crisis levels Bloomberg [COPENHAGEN] AP Moel-ler-Maersk A/S lifted a profit forecast, saying that its container line, the world’s largest, recovered faster than anticipated as freight prices have returned to levels before the financial crisis. Maersk said
      Bloomberg; BLOOMBERG  -  492 words
    • 157 24 Bloomberg [SHANGHAI] China’s number of airline passengers may more than double to 700 million a year by 2020 as economic growth spurs travel, according to the nation’s aviation regulator. This year, passenger numbers may total 266 million, Liu Shaocheng, director of policy research
      Bloomberg  -  157 words
    • 266 24 AFP [HONG KONG] Cathay Pacific has announced plans to fit its entire fleet with full broadband Internet access, a mobile phone service and even live television. In a deal with Panasonic Avionics, the eXConnect broadband system will have speeds of up to 50
      AFP; BLOOMBERG  -  266 words
    • 278 24 SGX '000 Jul 8 S$ +/-Vol CH Offshore 0.54 -0.01 503 Chuan Hup Hldg 0.26 unch 118 Cosco Corp 1.49 0.04 ***** CWT Ltd 0.90 0.03 1007 Ezra Hldgs 1.76 0.02 6297 First Ship Lea 0.40 0.01 987 Freight Links 0.05 unch 411 Grand Banks unch unch 0
      278 words
    • 704 24 FAA seeks their input on problems before Aug 17 meet AP [WASHINGTON] The US Federal Aviation Administration has launched a major push to try to determine why air traffic controllers and pilots are making so many dangerous errors that have led to
      AP  -  704 words
    • 3051 24 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ457 1230 SQ456 1250 EY470 2220 Adelaide LH9771 1745 9W4082 2230 SQ278 1745 AF8088 2230 VS7268 1745 BA7382 2230 JL5083 2230 MU8214 2230 QF82 2230 LH9770 2350 SQ279 2350 VS7279 2350 Amsterdam SQ323 0605 SQ7366 2315 US5410 0605 LO4032
      3,051 words
  • Page 24 Advertisements
    • 119 24 Llo List si is aa leading newspaper and ebsit dedicated theshippingindustr Due expansion wweea ra aree rrecruiting the ollowingposition: SENIORREPORTER EDITOR (SINGAPORE) WWeea ra aree looking anenergeticjournalistwith leastthree ears experienc maritime transportation eporting andidateswith strongbusiness eporting shippingindustr backgoundma alsobe onsidered KKeeyy rresponsibilitie PPrroovide eal-timeeditorial rage shippingindustr onlineandprint Develop opical incisiv
      119 words

  • SINGAPORE STOCKS
    • 8973 25 Transaction date: Jul 8 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 7.5 3148 8Telecom 16 unch 129 16.5 16 16 16.5 1.7 11.3 5.1 76.6 10 5.5 5834
      8,973 words
    • 1827 26 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 5 4.5 5.5 27.8 4.8 22.5 13 8538 t APStrategic 18.5 -0.5 30 18.5 18.5 18
      1,827 words
    • 9394 26 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund!** 1.12/ APS Alpha Fund (USD)!** 0.81/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM -Talents Fund 0.63/ Aberdeen Asset Mgt Asia Limited American Opp 0.5698/ Asian Credit Fund 1.2412/ Asian
      9,394 words
    • 757 26 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 $mil 124 107 6389 ABF SG Bond ETF 117 -7 10 117 117 112 120 534.1 883 632 CIMBAsean40 100US$ US860 +15 151 860 846
      757 words
    • 72 26 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 $mil 56 28 6000 AVJennings A42 40.5 47 3.6 8.3 3.4 109.4 31 13.5 6017 Genting HK US$ US19 +0.5 1548 19 18 18.5 19
      72 words


  • FINANCE & COMMODITIES
    • 374 27 In local curr In S$ In US$ dy yr dy yr dy yr Jul 7 Index Change Change Change Change Change Change World Index Preliminary 772.3 1.0 -7.2 1.0 -10.3 1.0 -9.1 EAFE Preliminary 722.0 0.6 -8.0 0.6 -13.3 0.7 -12.1 Europe Preliminary 1045.8 1.3
      374 words
    • 180 27 Jul 8 $S Offer Bid Overnight 0.05 0.02 1-month 3/8 1/8 2-months 7/16 3/16 3-months 9/16 5/16 Overnight mode: 0.02 US$ Offer Bid 7 days 0.55 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
      180 words
    • 22 27 Jul 8 S$ Bid Offer 1-month 1.3832 1.3842 2-months 1.3830 1.3840 3-months 1.3828 1.3838 6-months 1.3820 1.3831 Source: OCBC
      22 words
    • 132 27 Jul 8 As at 9am Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.1880 1.2240 Can dollar 1.3140 1.3300 Euro 1.7430 1.7620 NZ dollar 0.9660 0.9880 Sterling pound 2.0910 2.1150 US dollar 1.3760 1.3920 Local dollars to 100 units of foreign
      132 words
    • 29 27 Jul 8 Open High Sett STI Jul 2885 2901 2897 SIMSCI Jul 336.0 343.4 342.2 Taiwan Jul 262.3 266.7 265.6 Source: MF Global (S) Pte. Ltd
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    • 66 27 Jul 8 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 10 2420 2420 2423 2410 1223 3244 Aug 10 2349 2330 2349 2325 1160 ***** Sep 10 2300 2289 2310 2286 8789 ***** Oct 10 2283 2275
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    • 433 27 Jul 8 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Sep10 99.4200 0 2720 Dec10 99.3400 0 1746 Mar11 99.2450 0 1326 Jun11 99.1150 0 1745 EUROYEN TIBOR FUTURES Sep10 99.6550 99.6600 99.6550 99.6600 0 3368 Dec10 99.6800 99.6800 99.6800 99.6675 100 1372 Mar11 99.6725 0 1909
      433 words
    • 155 27 Jul 8 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Aug 10 344.5 339.0 344.0 32 Sep 10 322.0 320.0 320.0 59 Oct 10 314.0 Nov 10 310.0 310.0 310.0 12 Dec 10 308.0 308.0 308.0 20 Jan 11
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    • 93 27 Jul 8 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****F 07.10.2010 0.32 0.26 0.25 1-Year BY*****W 03.05.2011 0.35 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****1E 2.500 01.10.2012 104.62 5-Year N*****0N 1.375 01.10.2014 102.46 102.55 102.45
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    • 105 27 Jul 7 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 10 993.00 964.25 995.00 964.00 Aug 10 967.75 940.50 972.00 940.50 Sep 10 941.00 912.50 947.00 913.00 Nov 10 932.50 900.00 935.75 900.75 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Jul 10 36.81 35.84 36.90
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    • 77 27 CRUDE OIL PRODUCTS Jul 7 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 72.90 0.12 WTI (Near Mth) 74.33 2.31 Dubai (1-Mth F) 70.25 -0.63 Tapis blend 75.75 -0.90 Minas 72.35 -0.90 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 65.50 -1.27 Jet Kerosene 81.55 -0.40 US$/barrel Opec Oil
      77 words
    • 2265 27 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 3 unch 64 1 15 -3 6.17 46 4085 ASJ Hldgs W*****1 3.5 1 4 7 2.00 19 2036 Advance SCT W*****9 0.5 1 87 2817
      2,265 words
    • 465 27 Jul 8 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.914 5.922 0.691 6.808 40.953 79.311 0.772 10.569 2.800 1.236 74.841 40.577 1.209 6.637 0.923 28.058 28.342 0.576 0.874 Canada 1.094 6.480
      465 words
    • 85 27 Jul 8 (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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
      85 words
    • 154 27 Jul 8 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2090 1.2100 0.8739 0.8740 Canadian dollar 1.3226 1.3242 0.9560 0.9565 Euro 1.7499 1.7514 1.2649 1.2651 NZ dollar 0.9776 0.9790 0.7067 0.7072 Sterling pound 2.0989 2.1008 1.5172 1.5175
      154 words
    • 95 27 Jul 8 (•ftiti HlUr'i UtltU •WlIT ti_ tl IJM1£ **&£L lr««on JU'O) uov. I^jC 1*973 MJI f fh»i v rtl--- 1 CAST BAA M Krdlv StUirj jJ'.UIT ju (as/ iufjj !H?4« lioio UAJIS m \rUre ttjr Hr» (tor tH U ftigrr 120 A 'Jttr t<Orr\ A«.'J I lift*/
      95 words
    • 70 27 Jul 7 7 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1963.25 1968.75 3 months 1986.00 1995.00 Copper, Grade A (US$/tonne) Cash 6618.75 6578.00 3 months 6645.00 6605.00 Lead (US$/tonne) Cash 1771.50 1756.50 3 months 1795.00 1780.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash
      70 words
    • 82 27 Jul 7 COCOA (£/tonne) Close Prev High/Low Jul 10 2618 2594 2632/2565 Sep 10 2403 2394 2416/2387 Dec 10 2206 2204 2220/2199 Mar 11 2173 2174 2188/2170 COFFEE (US$/tonne) Close Pev High/Low Jul 10 1644 1625 1653/1625 Sep 10 1669 1650 1677/1639 Nov 10 1668 1648 1673/1640 Jan 11
      82 words


  • Page 29 Advertisements
    • 40 29 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES SHIPPING TIMES FREIGHT FORWARDER urgently needed by shippers n Can they find your THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327
      40 words

  • Page 30 Advertisements
    • 190 30 How to run a business without running out of ideas. PHE JulyfAugua 3QQ SME MAGAZINE INNOVATE TO BE THE BEST THAT WE CAN BE Heitec Jlelong goes all oul lo impiove productivity The Dark Continent comes shining through DCS is coming out of the blue Celling the light commeicul vehicle
      190 words
  • executive lifestyle
    • WINE/BOOKS
      • 1090 30  -  That’s what makes it interesting. If you always want the same taste, drink beer instead, says N K Yong N K Yong LAST week, out of curiosity, I opened a Chateau Latour 1992 for dinner. I was looking for a good but not great Bordeaux
        NK YONG  -  1,090 words
      • 686 30 WAP THE Girl with the Dragon Tattoo the film adaptation of the first in the series of phenomenally successful thrillers by Sweden’s late native son, Stieg Larsson did not come from Hollywood. No red carpet regulars pop up in the cast. No splashy marketing campaign accompanied
        WAP  -  686 words
      • 443 30  -  The Good Man Jesus and the Scoundrel Christ By Philip Pullman Canongate 256 Pages $27.95 Rating: B PHILIP PULLMAN THE GOOD MAN JESUS AND THE SCOUNDREL CHRIST By CHRISTOPHER LIM THE very title of The Good Man Jesus and the Scoundrel Christ
        443 words
    • PURSUITS
      • 855 31  -  Award-winning photographer Mattias Klum talks to NATALIE KOH about using his images to raise awareness of the depleting tropical jungles, particularly in Borneo NATALIE KOH EVER since Mattias Klum first set foot in the rainforests of Borneo in 1988, he knew he was
        855 words
      • AROUND TOWN
        • 215 31 RAKA Maitra, an associate artist of The Substation, has focused on developing a contemporary dance form that is her own. And with this unique contemporary dance, she has created her latest piece Variations On A Theme, which invites the audience to be a part of the
          215 words
        • 153 31 BALLET Under The Stars, an annual outdoor dance event, is back this year with more entertaining performances. Once again, members of the Singapore Dance Theatre will treat their audience to an inspired line-up, which includes Piano Concerto No. 2, Opus 102 by Edmund Stripe,
          153 words
        • 210 31 WHEN you think about Australian indigenous art, you assume it uses only the simplistic forms of expression. But since the 1960s and 70s, Aboriginal art has evolved, as urban artists veered away from the traditional methods of communication to more modern mediums. ReDot Fine
          210 words
      • 519 31  -  GAMING By CHRISTOPHER LIM SOME people enjoy the combat in survival-horror games as an end in itself. For the rest of us, however, a good story is the reason we endure monsters jumping out of the shadows to scare us senseless. Alan Wake is as
        519 words
      • 872 31  -  CD REVIEW By CHRISTOPHER LIM IT has been said that the true test of a good song is being able to play it on the guitar at the kitchen table. Yet even the simplest sounds can sound radically different, depending on where they are performed and
        872 words
    • ARTS
      • 675 32  -  Art and rebellion come together to restore a nation’s identity. EMILYN ANG reports EMILYN ANG ART from the Philippines is often characterised by religious imagery, loss of identity and commentary on the country’s tumultuous history. Exodus, a solo exhibition by Alfredo Esquillo, a 37-year-old artist
        675 words
      • 698 32  -  By WOON TAI HO IN the dictionary, it is defined as inscriptions on walls, often obscene. Well, it’s clear the definition needs updating. And if you think a graffiti artist looks like a bohemian rebel, think again. In neat clean shorts and white shirt, socks and dark shoes,
        698 words
      • 677 32  -  By CHEAH UI-HOON PRINTMAKING was a technique that Zhou Su Yin took a liking to when she was studying for her Bachelor in Visual Arts at Columbia University, New York. Now, the young graduate uses it when creating her own ink paintings based on the Chinese
        677 words
    • CINEMA/DVD
      • 543 33  -  By DYLAN TAN SEEN that ominous bumper sticker ad on the back of some taxi that says “catch cheating spouses”? The one that makes some husbands a little nervous when their wives point to it? If the ad was a movie, it’d be Chloe:
        543 words
      • 414 33  -  By CHRISTOPHER LIM MOST people these days think that vampires are sexy, but 1922’s Nosferatu portrayed bloodsuckers as being anything but. Daybreakers pays homage to that seminal silent film, along with nods to campy slasher flicks, Gattaca and even the Matrix trilogy all the while
        414 words
      • 593 33  -  By NATALIE KOH ANOTHER fantasy world woven into reality. It’s a wonder kids don’t tire of it. Adapted from the book of the same name by Rick Riordan, Percy Jackson The Lightning Thief transports Greek mythology to a modern setting where the entrance
        593 words
      • 806 33  -  Don’t fall prey to this nonsensical reboot of a franchise that’s been on its last legs for a while, says DYLAN TAN DYLAN TAN YOU’VE got to give it to Adrien Brody for being a good sport; to play JewishPolish musician Wladyslaw Szpilman in 2003’s
        806 words
    • 719 34  -  off the cuff jaime ee WHAT you are about to read is the interview of a lifetime. Or to be more accurate, an octopus’s lifetime which is said to be in the region of six months to four years depending on the species. I got
      719 words
    • 1736 34  -  Singapore business operators are happy they’ve achieved their goals for the World Cup, reports DYLAN TAN DYLAN TAN EVEN as Spain and the Netherlands face off at the World Cup final early Monday morning, it’s already clear who the winners are in Singapore local businesses have scored
      AFP, REUTERS, FILE PHOTO  -  1,736 words



  • Page 33 Advertisements
  • Page 33 Miscellaneous
    • 265 33 CRYPTIC CROSSWORD Across 6 Remove half a stone, it’s the trend (6,7) 8 Of interest to the consumer? (6) 9 Martha with an extraordinary bloomer (8) 10 Firm black loaf (3) 11 Viol, it played in town near Rome (6) 12 Sweetie getting a licking (8) 14 Cheat to be
      265 words