The Business Times, 16 July 2010

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Microfilm: NL30728
Total Pages: 32
1 32 The Business Times
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  • Title Section
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    23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 123/08/2009 Friday, July 16,2010
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  • Article
    Lock icon Technical recession in this boom year?
    712 1  -  Pharma volatility, weird maths may join hands COMMENTARY By ANNA ANNA TEO ONE year after coming off a recession of global proportions, the Singapore economy is headed for possibly a new all-time high growth rate, with GDP expected to surge by between 13 and
    712 words
  • Article
    Lock icon MARKETS DIGEST
    143 1 ST INDEX 2,943.55 (-9.26) ST INDEX FUTURES 2,943 (-9) SIMSCI 348.22 (-1.53) SIMSCI FUTURES 348.60 (-2.00) FOREX US$ S$ US$ (S$ per US$) 1.376 (US$/S$ per 1.529 2.103 EURO (US$/S$/E) 1.274 1.753 Foreign currency per US$ S$ YEN 87.90 63.90 RM 3.206 2.330 HK$ 7.772 5.650 BAHT 32.29
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  • Article, Illustration
    Lock icon A breather for home sales in lazy June
    717 1  -  Volumes fell during school hols, World Cup; July spurt expected before Hungry Ghost Month starts By EMILYN YAP [SINGAPORE] Students were not the only ones taking a break during the mid-year school holidays. Home seekers also slowed their pace, buying just 847
    Source: URA  -  717 words
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      75 1 HOCK LOCK SIEW Why market cap-weighting doesn’t work WORLD FESTIVALS Putrajaya in full bloom PAGE 32 PAGE 6 WINE When grace and elegance equal power PAGE 31 CHINA Fitch warns of growing bank risks PAGE 13 EXECUTIVE LIFESTYLE PAGE 27 There’s a new buzz in Singapore’s art scene A local
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      3 1 8 '*****1 *****4
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  • TOP STORIES
    • Article
      Lock icon THREE-MINUTE DIGEST
      452 2 A breather for home sales in lazy June STUDENTS were not the only ones taking a break during the mid-year school holidays. Home seekers also slowed their pace, buying just 847 private homes from developers in June. This is the smallest number of new sales in a month
      452 words
    • Article
      Lock icon AIG chairman quits after losing power struggle
      651 2 Harvey Golub will be succeeded by fellow AIG director Robert Miller NYT [NEW YORK] The conflict between the American International Group’s chairman and its chief executive had been quietly building for months, and in recent days it became so palpable that many at
      NYT  -  651 words
    • Article
      Lock icon AgBank IPO may miss record following insipid debut
      719 2  -  Stock ends Shanghai trading at 0.75% above issue price By JAMIE LEE [SINGAPORE] Agricultural Bank of China (AgBank) made its stock trading debut in Shanghai with a whimper yesterday, underperforming its Big Four bank peers. This comes after AgBank’s issue price was
      719 words
    • Article
      Lock icon NTT to buy parent of Datacraft Asia for £2.12b
      341 2 Largest acquisition of S African firm by a Japanese company Reuters [TOKYO] Nippon Telegraph and Telephone Corp (NTT) is buying South African information technology firm Dimension Data, the parent of Datacraft Asia, for up to £2.12 billion (S$4.3 billion). Datacraft used
      Reuters  -  341 words
    • Article, Illustration
      Lock icon How Tat Hong made it big on the world stage so quickly
      634 2  -  By VEN VEN SREENIVASAN [SINGAPORE] How did an obscure Singapore battery and tyre shop transform itself into one of the world’s biggest lessors of cranes and construction equipment with a geographical spread right across Asia and the Pacific?
      634 words
    • Article
      Lock icon Fortis to make Parkway flagship of Asian giant
      667 4  -  It sets Aug 12 as the closing date for its general offer By NISHA RAMCHANDANI By [SINGAPORE] Fortis Healthcare and its founders envision Parkway Holdings becoming the flagship of a Pan-Asian healthcare giant,boosting Parkway’s network and financial strength, the Indian group says
      667 words
    • Article
      Lock icon Pro-tem council set up to direct overhaul of accountancy sector
      701 4  -  Big plans include having professional post-grad qualification recognised globally By MICHELLE QUAH [SINGAPORE] Singapore is kick-starting the largescale overhaul of its accountancy sector with the creation of a dedicated body to oversee the revamp. The overhaul proposed by the Committee
      701 words
    • Article
      Lock icon NUS offers free global credit ratings of firms
      681 4  -  Most S’pore firms have low default risks; DBS has highest risk in STI By LYNETTE KHOO [SINGAPORE] For the first time, investors are able to assess credit ratings of listed companies worldwide without charge made possible by a free-for-all system launched yesterday
      681 words
    • Article
      Lock icon Spain bids for Paul the octopus
      158 4 PAUL the psychic octopus may be destined for more glory and fame as it is set to become one of the high-pro-file transfer targets of this close season. According to The Guardian, Madrid’s Zoo Aquarium has declared it is prepared to outbid any other
      158 words
    • Article
      Lock icon China’s growth slows to 10.3% in Q2
      342 4 AP [BEIJING] China’s rapid growth is slowing as the impact of its huge stimulus fades and Beijing clamps down on a credit boom. The world’s third-larg-est economy expanded by 10.3 per cent in the second quarter over a year earlier, down from the
      AP  -  342 words
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      210 2 For The First Time In Asia Malcolm Gladwel I International Best Selling Author of 'The Tipping Point (2000)', 'Blink (2005)' and 'Outliers (2008)' One of 100 Most Influential People Time Magazine 2005 One of 100 Top Global Thinkers Foreign Policy Magazine 2009 CRITICAL INGREDIENTS TO UNLIMITED SUCCESS 20 August 2010,
      210 words
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      91 4 GREAT SINGAPORE SALE 0 ijf V poggen HrirKPr pohl rational CKer SUB-ZERO 3 UIOLF "I kitchen culture where life revolves around the kitchen a part of KHL Marketing Asia-Pacific Pte Ltd Singapore 2 leng kee road, #01-02/05 #01-07 thye hong centre Singapore *****6 t: [65] 6473 6776 f [65] 6475
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      9 4 Acra, SGX issue guidance for audit committees, Page 7
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  • COMPANY NEWS
    • Article
      Lock icon M1 lifts Q2 net profit 10% to $40.8m
      479 6  -  Telco’s customer base, operating revenue up; declares higher dividend By CONRAD TAN THE second-quarter corporate earnings season got off to a good start yesterday, with M1 reporting that its Q2 net profit rose 10 per cent to $40.8 million from a year
      479 words
    • Article
      Lock icon Why market cap-weighting doesn’t work
      597 6  -  HOCK LOCK SIEW By R SIVANITHY FOR decades, conventional wisdom has dictated that the best way to represent or capture a stock market’s movements is to construct an index using a basket of representative stocks and weight them according to their market values. This is
      597 words
    • Article
      Lock icon UOB appoints two new independent directors
      311 6  -  Franklin Lavin and Willie Cheng are younger than other board members By CONRAD CONRAD TAN UNITED Overseas Bank (UOB) has appointed two new non-executive, independent directors. Both are younger than UOB’s other board members. Their appointments, effective yesterday, come after the Monetary Authority of
      311 words
    • Article, Illustration
      Lock icon Acra, SGX issue guidance for audit committees
      573 7  -  This will help them evaluate the work done by their external auditors By MICHELLE QUAH SINGAPORE is stepping up efforts to boost the quality of audits performed here, at a time when the value of one has come under much scrutiny. The Accounting
      573 words
    • Article
      Lock icon Tat Hong goes for full control of Tutt Bryant
      245 7  -  By KAREN KAREN NG CRANE specialist Tat Hong Holdings, which already owns 70.36 per cent of Tutt Bryant Group (TBG), has proposed to acquire the remaining 29.64 per cent for A$39.02 million, or 92 Australian cents per TBG share. The proposal
      245 words
    • Article, Illustration
      Lock icon Jackspeed buys 80% of Mil-Com Aerospace
      423 7  -  By VEN SREENIVASAN IN a move to expand into the fast-growing aerospace and aviation services market, auto upholstery maker Jackspeed Corporation is buying into privately owned Mil-Com Aerospace. The $6.3 million deal to buy 80 per cent of Mil-Com could open up a huge
      FILE PHOTO  -  423 words
    • Article
      Lock icon Local rig builders shrug off drilling ban for now
      640 9  -  Impact short-lived unless US extends ban indefinitely By JOYCE HOOI SINGAPORE rig builders’ shares continue to defy the shadow cast over the industry by a six-month drilling moratorium in the Gulf of Mexico after BP’s disastrous Deepwater Horizon rig blowout. But
      640 words
    • Article
      Lock icon OCBC research maintains ‘neutral’ rating for S-Reits
      502 9  -  By FELDA CHAY NOTWITHSTANDING the Republic’s strong economic growth numbers, OCBC Investment Research has kept its “neutral” rating on Singapore-listed real estate investment trusts (Reits), commonly referred to as the S-Reit sector. The research house said in a “Market Pulse” report dated July
      502 words
    • Article
      Lock icon Australand’s new A$1.3b unsecured debt facility
      279 9  -  By KAREN NG CAPITALAND subsidiary Australand said yesterday it has arranged an A$1.3 billion (S$1.57 billion) unsecured syndicated bank debt facility. “We are pleased to have achieved this first step in moving to a totally unsecured borrowing platform,” said Australand’s chief financial officer Kieran
      279 words
    • COMPANY BRIEFS
      • Article
        Lock icon Sino Grandness unit to build new plant
        71 9 SINO Grandness Food Industry Group said that a wholly owned subsidiary, Shenzhen Grandness, will invest 150 million yuan (S$30.5 million) to construct a production plant with a capacity of 30,000 tonnes per year to produce canned products and beverages in China. Construction work
        71 words
      • Article
        Lock icon SIA passenger load factor up in June
        75 9 SINGAPORE Airlines yesterday said it filled 71 per cent of the space available on its planes for passengers and cargo in June. The figure was higher than the 69.1 per cent recorded in May 2010 and 67.6 per cent in June 2009. SIA
        75 words
      • Article
        Lock icon Friven shareholders okay purchase of firm
        65 9 FRIVEN Co Ltd has secured shareholders’ approval to buy China Children Fashion Holdings Pte Ltd for $64 million. The purchase will be made via the issue 1.28 billion new shares to the vendors at five cents each, representing 62.7 per cent of its enlarged
        65 words
      • Article
        Lock icon CSE Global units win contracts worth $33m
        48 9 CSE Global Ltd announced that its various subsidiaries have recently secured several contracts worth a total of $33 million in the second quarter of this year. The projects comprise four projects in the Middle East and one project in the UK.
        48 words
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      534 6 ADVERTISEMENT THE I Lakeside Residences YOUR HEAVENLY HIDEOUT IN THE HEART OF IPOH Luxury amidst Limestone Hills and Lake m St#- J* m s?* 3*3 SS&! .>■: mm > The setting is perhaps the most surreal in Malaysia, a local Shangri-la in fact Yet, it is eminently accessible and affordable.
      534 words
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      182 7 O LEAD BY INNOVATION. True leaders know that knowledge, when put to good use, can take you from success to success. Presenting the BMW 7 Series with BMW EfficientDynamics—the culmination of decades of innovative thinking. Featuring cutting edge technology that includes Integral Active Steering* Brake Energy Regeneration* and High Precision
      182 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Prices fall on expected US weakness
      588 8  -  ST Index loses 9.3 pts; ‘buy in anticipation, sell on news’ pertaining to local economy also in play STOCKS R SIVANITHY Senior Correspondent THERE was probably an element of “buy in anticipation, sell on news” in trading over the past few days. Prices ran
      Source: Bloomberg  -  588 words
    • Article, Illustration
      Lock icon STRAITS TIMES INDEX
      4 8 DAILY
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      66 8 Jul 15 VALUE CLOSE BT OB/OS 538.00 +65.00 BT CADI -*****.00 -75.00 BT 10-day MA -*****.00 +54.00 FTSE ST Mid Cap 712.26 -0.03 FTSE ST Small Cap 535.69 -2.23 FTSE ST All Share 724.84 -1.97 FTSE ST China Top 265.01 -1.60 FTSE ST China 292.09 +1.18 FTSE
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    • Article
      Lock icon MOST ACTIVE STOCKS
      62 8 VOLUME Genting SP 81,417,000 Contel 68,200,000 Golden Agri 57,860,000 Bund Center Inv 37,261,000 Asia Food&Prop 31,883,000 Z-Obee Hldgs 31,467,000 UPP 25,970,000 BerlianLaju R 24,742,000 UniFiber 23,248,000 Uni Envtech 19,545,000 VALUE($) DBS Grp 109,811,130 Genting SP 96,103,000 IS MSCI India 100 73,230,373 UOB 64,289,520 CapitaLand 62,704,990 CityDev 41,516,524
      62 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 4 7 0 0 0 6 4 7 Manufacturing 36 68 79 3 3 14 39 71 93 Commerce 10 24 26 4 2 4 14 26 30 Tpt/Stor/Comms 12 21 10
      186 words
    • BROKERS’ TAKE
      • Article
        Lock icon City Developments
        409 8 July 15 close: $11.34 OCBC Investment Research, July 15 PRICING and demand at 368 Thomson exceeded expectations. Private preview for 368 Thomson, a 157-unit freehold residential development in District 11, started last Thursday. According to news reports, 128 units (81.5 per cent of the total units) had been
        409 words
      • Article, Illustration
        Lock icon Singapore Technology Sector
        429 8  -  DBS Group Research, July 15 Compiled by JOYCE HOOI VENTURE Corp, Longcheer and Broadway participated in our Pulse of Asia conference last week, which had a strong investor turnout. Management presented robust growth outlook for most business segments, but also cautioned investors on prevailing challenges such as
        Source: Bloomberg  -  429 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      115 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 51,068 51,068 77,752 77,752 Manufacturing 345,811 26,650 372,461 209,455 1,599 211,053 Commerce 73,207 15,158 88,365 71,995 5,331 77,326 Tpt/Stor/Comms 107,811 160 107,971 152,696 19 152,715 Finance 19,468 19,468 223,146 223,146 Construction 33,721 10,926 44,647 5,086
      115 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      109 8 Stock name Close Change CapMallsAsia 2.070 CapitaLand 3.780 +0.010 CapitaMall 1.980 +0.010 CityDev 11.340 +0.300 ComfortDelGro 1.500 -0.020 DBS Grp 14.620 -0.160 F&N 5.470 -0.020 Genting SP 1.190 Golden Agri 0.540 HK Land 5.150 +0.100 JMH 39.720 -0.280 JSH 23.300 -0.160 Jardine C&C 33.880 -0.480 Keppel
      109 words
    • Article, Illustration
      Lock icon US$ strikes 2-month low vs euro, basket
      488 8 CURRENCIES Reuters [NEW YORK] The US dollar hit a two-month low against the euro and a basket of major currencies yesterday, after soft inflation and manufacturing data sparked concern about the strength of the US economy. Data showing a third straight monthly decline
      Reuters; BLOOMBERG  -  488 words
    • Article
      Lock icon RISES
      113 8 BY CENTS CLOSE UP DBXT SPASX200 10US$ 2769 258.5 7.3 DBXT FTChina25 10US$ 2916 100.4 2.6 DBXT iBoxxKR 5US$ ***** 72.9 0.5 DBXT MSBrazil 10US$ 633 45.4 5.5 CityDev.ES.1007 1122 36.0 3.3 DBXT S&P Short 10US$ 5315 34.4 0.5 DBXT MSRussia 10US$ 280 30.3 8.5 CityDev 1134 30.0 2.7
      113 words
    • Article
      Lock icon FALLS
      122 8 BY CENTS CLOSE DOWN DBXT Nifty 10US$ *****-213.1 -1.3 Jardine C&C 3388 -48.0 -1.4 Lyxor China H 10US$ 1476 -41.3 -2.0 JMH 3972 -38.5 -0.7 JSH 2330 -22.0 -0.7 DBXT CSI300 10US$ 862 -16.5 -1.4 DBXT MSCHINA 10US$ 1152 -16.5 -1.0 DBS Grp 1462 -16.0 -1.1 Keppel Corp 880
      122 words
    • Article
      Lock icon CURRENCIES
      87 8 Where S$ stands Jul 15 CHNG YR 2010 CLOSE FR Jul 14 S$ LOW S$ HIGH US$ 1.3735 0.14 1.4219 1.3680 Euro 1.7561 -0.48 2.0153 1.6886 Pounds 2.1046 -0.31 2.2831 2.0003 A$ 1.2098 0.39 1.2960 1.1515 Yen* 1.5598 -0.75 1.5951 1.4467 Rupiah* 0.***** 0.05 0.***** 0.***** Baht* 4.2583 -0.06
      87 words
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      42 9 BIG ON THE BIG WALK? the new paper BigWalk thenewpaper Check out The New Paper every day until Sunday for BIG Big Walk news Walkers, grab and keep your free copy of The New Paper on Sunday for a BIG surprise bonus!
      42 words
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      182 9 t J Workfare encourages my m < I What's more, I can get funding support and more productive employees! ciiiuui dyt3 111y employees to go for training, a Ll 1 p«i 5b! 1 L. j V J id. J Mr Richard \Njoo GM, HR £t General Affairs Mitsui Electronics Asia
      182 words
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  • SINGAPORE NEWS
    • Article
      Lock icon Merck to close chemical plant here by end-2011
      431 10  -  Change in priorities after merger with Schering Plough will alter S’pore ops By CHEN HUIFEN DRUG giant Merck will be ending its chemical manufacturing operations in Singapore by the end of next year as it consolidates its activities worldwide after its US$41
      431 words
    • Article, Illustration
      Lock icon Far East buys 31 Parbury Avenue
      447 10  -  By KALPANA RASHIWALA FAR East Organization has signed a deal to buy 31 Parbury Avenue off Upper East Coast Road for $55 million a price that works out to $898 per sq ft of land area. A two-storey bungalow stands on the sprawling 61,240
      447 words
    • Article
      Lock icon Retail sales disappoint for 3rd straight month
      374 10  -  Drop of 3.4% in May, largely due to a slump in car sales, is bigger than market forecast By TEH SHI NING RETAIL sales fell short of expectations for a third straight month in May, pulled down again by a slump in car
      374 words
    • Article
      Lock icon S’pore investor sentiment index down 7% in Q2
      340 10  -  ING survey shows concerns over global economic climate By CHAN YUPING EXTERNAL events are expected to hurt Singapore’s small and open economy, having caused a decline in investor sentiment in the second quarter this year, says banking giant ING. Its Investor Sentiment
      340 words
    • Article
      Lock icon Increased funding for silver community
      280 10 THE government yesterday called for grant proposals for its Silver Community Test Bed Programme, and said that it would triple programme funding from $3 milion to $10 million over the next two years. Speaking at the event held at the Ministry of Community Development, Youth
      280 words
    • SINGAPORE ROUNDUP
      • Article
        Lock icon A*Star, Cytos to work on flu vaccine
        59 10 THE Agency for Science, Technology and Research (A*Star) yesterday announced its first collaboration with Switzerland’s Cytos Biotechnology to develop a commercial virus-like particle vaccine to manage influenza infections. Cytos will hold the worldwide sub-licensable rights to the vaccine. A*Star subsidiaries will be entitled
        59 words
      • Article
        Lock icon Trishaws to get a new lease of life
        53 10 TRISHAW Uncle, the sister company of Singapore River Cruises Leisure, has been appointed by the Singapore Tourism Board as the new manager of Albert Mall Trishaw Park. To revitalise the trishaw scene, Trishaw Uncle plans initiatives such as multi-sensory trishaw tours and
        53 words
      • Article
        Lock icon Register subletting of rooms: HDB reminder
        83 10 THE Housing Development Board (HDB) says flat owners with ongoing sub-letting tenancies that started before Feb 1 this year must register such tenancies by July 31 two weeks from now. They are advised to register quickly to avoid a last-minute rush. Registration can be
        83 words
      • Article
        Lock icon ‘Cities in Movement’ symposium on Sunday
        84 10 LIANHE Zaobao will jointly present a symposium on “Cities in Movement Singapore, Hong Kong and Shanghai” with Ee Hoe Hean Club and the East Asian Institute of National University of Singapore on Sunday. Held in conjunction with the 20th anniversary of Sino-Singapore bilateral relations,
        84 words
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      218 10 action community for entrepreneurship BlueSky exchange This is the third of four sessions of the "Going Global" series. Each session will feature a CEO sharing how the company's competitiveness and capabilities were primed to engage the international market. The "Going Global" series is a collaboration between the Action Community for
      218 words
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      27 10 r I IK ■M M SES hi m inai ISJ <i^iliTiii1 iMk jji'jjiiJj T YWR ERA JERRY LUM Marketing Director, MBA, CES HP: 8288 0098 View: jerrylum.myweb.sg
      27 words
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      21 10 Nassim Mansion Hilltop. Freehold 3412 sqf Single Level 4 1 Rooms All En-suite $10m Negotiable 9846 9988 CBRE CB RICHARD ELLIS
      21 words
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  • ECONOMY WATCH
    • Article
      Lock icon Fed members split on threat of deflation
      912 11 And while White House says stimulus programme created millions of jobs, polls show Americans are sceptical NYT [WASHINGTON] The Federal Reserve disclosed on Wednesday that its chief policymakers were divided on whether the weak economy faced a new, potentially dangerous threat in the
      NYT  -  912 words
    • Article, Illustration
      Lock icon Stimulus bill better than believed: report
      409 11 AP [WASHINGTON] The White House asserted on Wednesday that the US$862 billion stimulus law has been even better for the economical-ly-struggling United States than previously advertised. Updating its estimate of the impact the controversial new law has had, the White House now projects that
      AP; BLOOMBERG  -  409 words
    • Article
      Lock icon Spanish banks borrow 126.3b euros from ECB
      370 11 Jump of 48% from May’s figure hints of funding woes AP [MADRID] The Bank of Spain said on Wednesday that borrowing by Spanish banks from the European Central Bank last month broke records, an indicator of the difficulties they are having in raising
      AP  -  370 words
    • Article
      Lock icon US firms wary of hiring despite swelling cash pile
      611 11 Big business blames uncertainty from onerous regulations LAT-WP [WASHINGTON] Corporate America is hoarding a massive pile of cash. It just doesn’t want to spend it hiring anyone. Non-financial companies are sitting on US$1.8 trillion in cash, roughly one-quarter more than the
      LAT-WP  -  611 words
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      126 11 NEW TO HOTELCLUB? BOOK NOW RECEIVE AN EXTRA $20°* We've pur oil our Thailand horels ON SALE! For rhe whole monrh of July, book any of our horels in Thailand and you'll receive an exrra $20 discounr off* our grear rotes in addition ro special deals on selected hotels shown
      126 words
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      18 11 ATTENTION! The Infiniti 3+s 1,356 sq Nicely Renovated Move in condition CALL 9797-7595 JGP Real Specialists Pte Ltd
      18 words
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  • MALAYSIA
    • Article, Illustration
      Lock icon M’sia headed for 7% growth this year: Nomura
      448 12  -  It also expects central bank to hoist overnight policy rate to 3% by year-end By S JAYASANKARAN MALAYSIA’S surprisingly strong 10.1 per cent growth in its first quarter is likely to spill over into the second quarter, driven by domestic demand and
      448 words
    • Article
      Lock icon Economic rebound sharper next year: Muhyiddin
      195 12 Bernama [KUALA LUMPUR] Malaysia’s economic recovery will be more pronounced next year following the implementation of aggressive recovery measures. Deputy Prime Minister Muhyiddin Yassin said that the government was confident there would be an influx of investors which would lead to more employment opportunities.
      Bernama  -  195 words
    • Article
      Lock icon KL implements fuel, sugar subsidy cuts
      236 12 Reuters [KUALA LUMPUR] Malaysia will cut fuel subsidies from today in an effort to rein in its budget deficit which hit a more than 20 year high in 2009. The government, which had previously put off price hikes, said yesterday that the cost of
      Reuters  -  236 words
    • Article
      Lock icon Hong Leong to extend timeline of EON offer
      238 12 Bloomberg [KUALA LUMPUR] EON Capital Bhd, Malaysia’s sev-enth-largest bank, said Hong Leong Bank Bhd has agreed to extend the timeline of its RM5.06 billion (S$2.1 billion) takeover offer. An EON shareholders meeting to vote on the offer will be held by Aug
      Bloomberg  -  238 words
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      215 12 -M* /r^T\A *****9 ra a mm m m MttrlWV^mVTS m :s i LET YOUR MUSICAL TALENT SHINE FOR A GOOD CAUSE I VA, I Child Aid, the children's charity concert by The Straits Times and The Business Times, is taking centerstage again. We are looking for talented musicians below 19
      215 words
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  • GREATER CHINA
    • Article, Illustration
      Lock icon Fitch warns of growing bank risks in China
      1003 13 Many engage in complex deals that hide size, nature of their lending, masking a coming wave of bad loans NYT [SHANGHAI] A week after the Agricultural Bank of China raised nearly US$20 billion from global investors in one of the biggest stock
      NYT; REUTERS  -  1,003 words
    • Article
      Lock icon Yuan-managed float needed for economy
      374 13 Bank official responds to ECB’s call for rise in yuan Bloomberg AFP [BEIJING] China needs to follow a managed float of its exchange rate to aid restructuring, said Hu Xiaolian, deputy governor of the People’s Bank of China. The policy will help deliver more resources
      Bloomberg; AFP  -  374 words
    • Article
      Lock icon China: We’re not restrictive to foreign investors
      314 13 Reuters [BEIJING] China defended itself yesterday against a World Bank report that the country was one of the most restrictive to foreign investment, saying that it is instead trying to cut red-tape and open up the market further. The World Bank report, released
      Reuters  -  314 words
    • Article
      Lock icon US goes after properties of Chen Shui-bian
      231 13 AFP [WASHINGTON] The US government on Wednesday went to court seeking to expropriate two properties owned by former Taiwan president Chen Shui-bian and his wife, allegedly bought with bribe money the couple received while in power. According to the civil forfeiture complaint filed
      AFP  -  231 words
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      52 13 MATS BUY IT SELL IT FIND IT NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg REQUEST FOR PROPOSAL CHANGI AIRPORT GROUP (SINGAPORE) PTE LTD ChangiAirportGroup(Singapore)PteLtdrequestsproposals undertakean InsuranceStudy.. InterestedpartiesmaycollecttheBidDocumentsasfollows: TTime 8.30amto1.00pm or 2.00pmto5.30pm Dates 19July2010t ot to 23July2010 Place CAGReception,4thStoreySingaporeChangiAirport erminal DocumentFee S$30.00 payablebycheque ChangiAirportGroup(Singapore)PteLtd Proposalsmustbesubmittedby 4.00pmon27August2010,at enderBox located CAG Reception,4thStorey SingaporeChangiAirport erminal
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      125 13 .V i U itP ort Cho n 9' EXPV ,0 ls \and pan Eyeing a great deal? 212 Etienne Aigner Braun Buffel Dior* DS.G E. Armani Elle Fila Gucci HUGO BOSS Longines Marc O'Polo Metzler Mill Miu Oakley PRADA Puma Reebok Rudy Project Ryders S. Ferragamo Sworke TAG Heuer Contact
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  • INDIA
    • Article
      Lock icon Panel suggests expanding govt food subsidies
      390 14 If implemented, the move could spare Congress party a voter backlash in upcoming state polls Reuters [NEW DELHI] A council headed by Congress party chief Sonia Gandhi recommended on Wednesday widening Indian food subsidies, which if implemented could shore up the ruling party’s socialist
      Reuters  -  390 words
    • Article, Illustration
      Lock icon Tea prices jump as pests damage crops
      339 14 Output in Assam may drop 30-40% during second flush Bloomberg [MUMBAI] Tea production in India’s biggest growing region will decline this year because of pest attacks, driving prices higher, the state-run Tea Board of India said. Output in Assam, which accounts for more
      Bloomberg; AP  -  339 words
    • Article
      Lock icon Google, Tata in business services venture
      154 14 Reuters [MUMBAI] Google Inc’s Indian unit and Tata Communications will partner to provide Web-based business connectivity services to companies in India, where a fast-expanding economy throws up new opportunities. The companies would work together to provide business tools such as email, instant messaging, calendar
      Reuters  -  154 words
  • Page 14 Advertisements
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      325 14 WINE DINE AND HOSPITALITY K Eating out and eating right... We understand health because we've asked the experts. In consultation with Bibi Chia, a renowned nutritionist, our culinary team led by Executive Chef Tony Khoo presents an all-new well-balanced healthy menu. Choose our selection of nutritious yet delicious gourmet set
      325 words
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  • ASIA-PACIFIC
    • Article, Illustration
      Lock icon Gillard warns voters against taking risks with the economy
      703 15 Aussie PM sets out her platform for re-election in polls expected in months Reuters [CANBERRA] Australian Prime Minister Julia Gillard sought to sell her Labor government’s economic credentials yesterday, warning that the conservative opposition’s policies could risk a robust economy. In
      Reuters; AP  -  703 words
    • Article
      Lock icon Philippines counts cost of typhoon blackout
      694 15 Businesses in Manila hit by disruptions to phone, power grids AFP Reuters [MANILA] A deadly typhoon that caused a near total blackout in the Philippine capital on Wednesday may cost the nation’s economy hundreds of millions of dollars, a business leader said. Many office
      AFP; Reuters  -  694 words
  • Page 15 Advertisements
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      Lock icon Page 15 Advertisements Column 1
      1822 15 [SATS cP NOTICES BUY IT SELL IT FIND IT Toll free: 1800-289-8822 Email: notices@sph.com. CIC CREDIT INDUSTRIE!. ET COMMERCIAL (A BANK INCORPORATED IN FRANCE) Statutory Auditors' report on the consolidated financial statements Year ended December 31, 2009 To the shareholders, Following our appointment as Statutory Auditors by your Shareholders' Meeting,
      1,822 words
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  • ASIA-PACIFIC/WORLD
    • Article
      Lock icon BOJ forecasts 2.6% growth, a 10-year high
      616 16  -  Pace falls short of private economists’ estimate of 3%; rate policy put on hold By ANTHONY ROWLEY THE Bank of Japan (BOJ) yesterday raised its forecast for real growth in the Japanese economy in the fiscal year ending next April to 2.6 per
      616 words
    • Article, Illustration
      Lock icon Osborne offers veto over OBR chief
      475 16 Reuters [LONDON] Britain’s cross-party Parliamentary Treasury Select Committee (TSC) will have the power to veto any candidate chosen to head the country’s new fiscal watchdog, the finance minister said yesterday, in a move to restore credibility to the body. George Osborne launched the Office
      Reuters; REUTERS  -  475 words
    • Article
      Lock icon JPMorgan Q2 profits rise 76% to US$4.8b
      443 16 Bloomberg [NEW YORK] JPMorgan Chase Co, the second-big-gest US bank by assets, said profit rose 76 per cent, higher than analysts expected as provisions for soured mortgages and credit-card loans declined. Second-quarter net income climbed to US$4.8 bil- lion, or US$1.09 a share,
      Bloomberg  -  443 words
    • Article
      Lock icon Growth remains tepid despite strong earnings from firms
      394 16 LATEST US DATA Reuters Bloomberg [WASHINGTON] A new batch of economic reports showed yesterday that US growth remains tepid even as companies report strong earnings. The government’s national report showed modest growth in industrial output last month while a regional manufacturing index
      Reuters; Bloomberg  -  394 words
    • Article
      Lock icon Conductor Charles Mackerras dies at 84
      259 16 Reuters [LONDON] Charles Mackerras, a gifted musician who conducted some of the world’s leading orchestras, has died at the age of 84 after suffering from cancer, his agent said yesterday. Born in New York state to Australian parents, Sir Mackerras was raised in Sydney
      Reuters  -  259 words
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  • WORLD
    • Article, Illustration
      Lock icon Glaxo diabetes drug faces market curbs
      736 17 FDA advisory panel calls for stronger warnings about risks, and restricted use PHARMA INDUSTRY Bloomberg [WASHINGTON] GlaxoSmithKline Plc’s fight to win the backing of a US advisory panel to keep its diabetes pill Avandia on the market suggests that drugmakers are facing stricter scrutiny
      Bloomberg; BLOOMBERG  -  736 words
    • Article
      Lock icon Novartis Q2 profit up 19%, sales up 11%
      412 17 AP [GENEVA] Drug maker Novartis AG reported a second-quarter increase in net profit of 19 per cent yesterday, as sales in its pharmaceuticals business offset health care cost-cutting efforts by some European governments. The company based in Basel, Switzerland, reported a net
      AP  -  412 words
    • Article, Illustration
      Lock icon GE’s growth hinges on higher R&D investment, says Immelt
      712 17 Bloomberg [BOSTON] Jeffrey Immelt says General Electric Co’s growth depends on bringing the right high-tech products to market, from gearless wind turbines to cancer-treatment tests and engines that turn cow manure into energy. “I believe that more investment is going to
      Bloomberg; REUTERS  -  712 words
    • Article
      Lock icon Russia eyes German help to modernise
      566 17 Multi-billion-euro deals signed for trains, wind turbines AFP [YEKATERINBURG, Russia] Russian President Dmitry Medvedev yesterday called on German firms to help Russia modernise its economy as Germany inked multi-billion-euro deals to further cement the Moscow-Berlin partnership. At a summit between Mr Medvedev and German
      AFP  -  566 words
    • Article
      Lock icon US home foreclosures set to top one million this year
      682 18 Over 520,000 homes repossessed in H1 as banks step up effort to clear backlog AP [LOS ANGELES] More than one million American households are likely to lose their homes to foreclosure this year, as lenders work their way through a
      AP  -  682 words
    • Article
      Lock icon SEC invites public comment on proxy system
      280 18 NYT [WASHINGTON] The Securities and Exchange Commission (SEC) said on Wednesday that it wants to hear from the public on several issues related to the proxy system, the process by which shareholders elect directors and vote on corporate governance proposals. The commission voted
      NYT  -  280 words
    • Article, Illustration
      Lock icon EVOLUTION OF DENNIS HOPPER'S WORKS
      99 18 [LOS ANGELES] Two woman standing beside a painting entitled ‘James Rosenquist (with Brunette Billboard)’ at the press preview of ‘Dennis Hopper: Double Standard’. the first US comprehensive museum survey of the works of the actor/artist/director at the Museum of Contemporary Art (MOCA) in Los Angeles.
      AFP  -  99 words
    • Article
      Lock icon Pension funds shift to bonds, shun equities
      618 18 In aftermath of financial crisis, more baby boomers seek safer assets ahead of retirement ANALYSIS Reuters [NEW YORK] US pension funds are buying more bonds and paring investments in stocks in the aftermath of the financial crisis as more baby boomers seek safer
      Reuters  -  618 words
    • Article
      Lock icon Italian banks are tops at getting robbed
      568 18 Association says it’s because branches hold too much cash Bloomberg [MILAN] Italy’s biggest banks rank no higher than ninth in Europe by market value. But they come in first by another yardstick: robberies. Heists at Italian banks accounted for almost half of all
      Bloomberg  -  568 words
    • Article
      Lock icon MGM gets another reprieve
      334 18 AP [LOS ANGELES] Struggling movie studio Metro-Gold-wyn-Mayer Inc said on Wednesday that it has gotten another agreement from its creditors to delay taking action for its failure to make payments on its debt as it seeks a financial savior. MGM, which owns half the rights to
      AP  -  334 words
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  • AVIATION/SHIPPING
    • Article
      Lock icon Premium seat sales rebound strongly in May
      597 19  -  Rise in passengers driven by business travellers rather than holiday-makers: Iata By VEN SREENIVASAN PREMIUM seat sales rebounded strongly in May, further confirming the recovery of the air travel industry. According to the latest data released by the International Air Transport Association (Iata),
      597 words
    • Article
      Lock icon Inmarsat’s fleet broadband service takes off
      368 19  -  By JOYCE HOOI SATELLITE communications firm Inmarsat says the maritime industry is going big on broadband. In the past six months alone, Inmarsat has registered 5,000 terminal installations on the vessels of its maritime customers. This takes the total number of installations to 10,000
      368 words
    • Article
      Lock icon AIRCRAFT ARRIVALS AND DEPARTURES
      3053 19 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 LO4032 2345 US5410 0605 SQ324
      3,053 words
    • Article, Illustration
      Lock icon Pirate attacks on the wane in H1
      396 19 Reuters [KUALA LUMPUR] Pirate attacks globally declined by nearly a fifth in the first half of 2010 from the same period last year due to a strong naval presence in the Gulf of Aden, a maritime watchdog said yesterday. The London-headquar-tered International Maritime
      Reuters; AFP  -  396 words
    • Article
      Lock icon TRANSPORT STOCKS
      278 19 SGX '000 Jul 15 S$ +/-Vol CH Offshore 0.54 -0.01 1329 Chuan Hup Hldg 0.27 0.01 85 Cosco Corp 1.51 -0.03 ***** CWT Ltd 0.94 unch 301 Ezra Hldgs 1.87 -0.02 5949 First Ship Lea 0.42 0.01 2137 Freight Links 0.06 0.01 205 Grand Banks unch unch 0
      278 words
    • Article
      Lock icon Germany imposes air travel tax in bid to raise 1b euros
      284 19 Reuters [FRANKFURT] Airlines will have to pay up to 26 euros (S$45.80) per passenger under the German government’s plan to impose an air travel tax to raise one billion euros a year, according to a draft law seen by
      Reuters  -  284 words
  • Page 19 Advertisements
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      161 19 SOUTH EAST ASIA AND SOUTH ASIA/AUSTRALIA TRADE FACILITATION AGREEMENT NOTICE TO TRADE PEAK SEASON SURCHARGE In order to maintain the level of service demanded during the peak season, the following lines wish to inform the trade that a Peak Season Surcharge (PSS) of US$250.00 per 20' and US$500.00 per 40'
      161 words
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  • EDITORIAL & OPINION
    • Article
      Lock icon Markets focusing on the headwinds
      484 20 EDITORIAL BY most accounts, the worst of the US sub-prime crisis is over and world growth is back on track with a double dip only a remote possibility. Last week, for example, the International Monetary Fund (IMF) upgraded its 2010 global economic growth forecast from
      484 words
    • Article, Illustration
      Lock icon Tokyo treads nervously in fear of the fickle voter
      850 20  -  THE BOTTOM LINE ANTHONY ROWLEY Tokyo Correspondent JAPAN is giving democracy a bad name, first with constant changes of prime minister and now with a major political upset at the hands of fickle voters. But the danger from last Sunday’s election
      850 words
    • Article, Illustration
      Lock icon Global convention on domestic workers soon?
      1084 20  -  Workers’ representatives support ILO convention; employers favour recommendations JOHN GEE The author is a Singapore-based freelance writer THE International Labour Organization (ILO) is in the process of discussing a body of labour standards that have a particular relevance to Singapore. They cover a broad
      BENJAMIN SEETOR/THE NEW PAPER  -  1,084 words
    • Article, Illustration
      Lock icon Obama loses support of white voters
      1170 21  -  Slow economic growth, continuing high jobless rate behind current dark political mood of Americans LEON HADAR Washington Correspondent THE most sweeping overhaul of the US financial regulatory system is expected to be approved by the Senate in the coming days, handing President Barack Obama
      AP  -  1,170 words
    • Article, Illustration
      Lock icon Scrap race-based politics
      716 21  -  By COURTLAND MILLOY LAT-WP LAT-WP WHITE: A person having origins in any of the original peoples of Europe, the Middle East or North Africa. Racial definition from the US Census Bureau. With all the talk lately about the “white vote”, I thought it would be helpful to
      LAT-WP; AP  -  716 words
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      8988 22 Transaction date: Jul 15 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 8 3148 8Telecom 17 unch 40 17.5 17 16.5 17 1.7 10.6 5.5 81.4 10 5.5 5834
      8,988 words
    • Article
      Lock icon SGX CATALIST
      1827 23 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 5 5.5 27.8 4.8 22.5 13 8538 t APStrategic 18 16.5 18 106.8 4 0.5
      1,827 words
    • Article
      Lock icon UNIT TRUSTS & FUNDS
      9409 23 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund!** 1.17/ APS Alpha Fund (USD)!** 0.85/ AXA Life Secure Ascent 2020 Fund 0.9449/0.9449 AXA Wealth Mgt S'pore Pte Ltd AXA WM -Talents Fund 0.66/ Aberdeen Asset Mgt Asia Limited American Opp 0.6021/ Asian Credit Fund 1.2449/ Asian
      9,409 words
    • Article
      Lock icon SGX ETF
      768 23 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 $mil 124 107 6389 ABF SG Bond ETF 115 115 120 525 883 670 CIMBAsean40 100US$ US876 -6 10 876 876 880 887 35 306
      768 words
    • Article
      Lock icon CLOB INTERNATIONAL
      74 23 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 $mil 56 28 6000 AVJennings A40 39 43.5 3.6 8.8 3.2 104.2 31 14 6017 Genting HK US$ US18.5 unch 934 19 18.5 18.5 19
      74 words
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  • FINANCE & COMMODITIES
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      374 24 In local curr In S$ In US$ dy yr dy yr dy yr Jul 14 Index Change Change Change Change Change Change World Index Preliminary 808.8 0.4 -2.8 0.3 -6.6 0.5 -4.6 EAFE Preliminary 751.5 0.6 -4.3 0.7 -10.1 0.9 -8.2 Europe Preliminary 1089.3 0.0
      374 words
    • Article
      Lock icon INTERBANK RATES
      180 24 Jul 15 $S Offer Bid Overnight 1/8 1/16 1-month 3/8 1/8 2-months 7/16 3/16 3-months 9/16 5/16 Overnight mode: 0.15 US$ 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
    • Article
      Lock icon US$/S$ FORWARD RATES
      24 24 Jul 15 S$ Bid Offer 1-month 1.3749 1.3760 2-months 1.3747 1.3758 3-months 1.3745 1.3756 6-months 1.3739 1.3749 Source: OCBC Source: OCBC
      24 words
    • Article
      Lock icon SICOM FUTURES
      151 24 Jul 15 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Aug 10 320.0 320.0 322.0 1 Sep 10 309.5 Oct 10 300.0 8 Nov 10 296.0 294.0 296.0 36 Dec 10 294.0 294.0 294.0 32 Jan 11 294.0 294.0
      151 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      88 24 Jul 15 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****Z 14.10.2010 0.30 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 104.55 104.59 104.59 5-Year N*****0N 1.375 01.10.2014 102.54 102.65 102.65
      88 words
    • Article
      Lock icon CHICAGO BOT
      105 24 Jul 14 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 10 1036.00 1030.50 1038.50 1025.75 Aug 10 997.50 995.00 1004.25 993.00 Sep 10 975.25 967.00 979.50 964.25 Nov 10 962.00 954.50 967.00 952.75 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Jul 10 38.05 37.92 38.10
      105 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      77 24 CRUDE OIL PRODUCTS Jul 14 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 76.70 0.18 WTI (Near Mth) 76.98 -0.33 Dubai (1-Mth F) 74.42 1.51 Tapis blend 80.55 1.60 Minas 77.35 1.60 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 68.33 2.33 Jet Kerosene 86.65 1.73 US$/barrel Opec Oil
      77 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      2318 24 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 3 1 15 6.00 46 6227 ASJ Hldgs W*****1 3.5 1 4 2.14 19 2036 Advance SCT Ltd W*****9 0.5 1 87 2817 6.00 1 6168
      2,318 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      133 24 Jul 15 As at 9am 15 Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.1990 1.2350 Can dollar 1.3210 1.3370 Euro 1.7410 1.7610 NZ dollar 0.9820 1.0040 Sterling pound 2.0860 2.1100 US dollar 1.3690 1.3840 Local dollars to 100 units of
      133 words
    • Article
      Lock icon STOCK INDEX FUTURES
      29 24 Jul 15 Open High Sett STI Jul 2950 2950 2943 SIMSCI Jul 350.3 351.2 348.6 Taiwan Jul 271.3 272.5 271.8 Source: MF Global (S) Pte. Ltd
      29 words
    • Article
      Lock icon PALM OIL
      66 24 Jul 15 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 10 2472 2465 2472 2453 62 1102 Aug 10 2429 2459 2473 2428 3110 ***** Sep 10 2381 2439 2445 2378 ***** ***** Oct 10 2353 2411
      66 words
    • Article
      Lock icon SGX DERIVATIVES TRADING
      418 24 Jul 15 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Sep10 99.4550 0 2675 Dec10 99.3950 0 1610 Mar11 99.3200 0 1017 Jun11 99.1950 0 2219 EUROYEN TIBOR FUTURES Sep10 99.6500 1 3236 Dec10 99.6575 26 1296 Mar11 99.6800 0 1959 Jun11 99.6900 99.6950 99.6900 99.6850 0
      418 words
    • Article
      Lock icon INTERBANK CROSS RATES
      465 24 Jul 15 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.908 5.944 0.689 6.818 41.016 79.387 0.771 10.552 2.812 1.218 75.057 40.665 1.207 6.622 0.922 28.236 28.325 0.574 0.877 Canada 1.102 6.549
      465 words
    • Article
      Lock icon SIBOR
      85 24 Jul 15 (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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
      85 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 24 Jul 15 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2061 1.2077 0.8771 0.8776 Canadian dollar 1.3289 1.3306 0.9664 0.9669 Euro 1.7517 1.7534 1.2739 1.2742 NZ dollar 0.9899 0.9913 0.7199 0.7204 Sterling pound 2.1017 2.1036 1.5284 1.5287
      154 words
    • Article
      Lock icon PRECIOUS METALS
      139 24 Jul 15 GOLD (US$/oz) Jul 14 Jul 15 Hong Kong 1212.50 1213.60 Jul 13 Jul 14 London 1214.95 1215.40 1215.70 1216.15 Source: Thomson Reuters CAST BAR Jul 15 (S$) Selling Buying Kilobar 57,580.98 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 129.47 54 5gm 365.94 269 10gm 653.77
      139 words
    • Article
      Lock icon LONDON METALS
      69 24 Jul 14 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1990.75 1975.25 3 months 2009.00 1995.00 Copper, Grade A (US$/tonne) Cash 6705.00 6664.75 3 months 6725.00 6685.00 Lead (US$/tonne) Cash 1808.75 1804.25 3 months 1828.00 1825.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
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    • Article
      Lock icon LIFFE
      82 24 Jul 14 COCOA (£/tonne) Close Prev High/Low Jul 10 2713 2601 2725/2622 Sep 10 2436 2397 2465/2411 Dec 10 2265 2229 2280/2238 Mar 11 2220 2191 2236/2217 COFFEE (US$/tonne) Close Pev High/Low Jul 10 1709 1696 1710/1691 Sep 10 1731 1721 1739/1717 Nov 10 1736 1719 1742/1715 Jan 11
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    5221 25 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.
    5,221 words
  • Page 25 Advertisements
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  • Page 26 Advertisements
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      Lock icon Page 26 Advertisements Column 1
      46 26 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES SHIPPING TIMES r FREIGHT FORWARDER urgently needed by shippers 1 Can they find your here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327
      46 words
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  • executive lifestyle
    • Adding colour to art scene
      • Article, Illustration
        Lock icon Christie’s storage facility could boost art market
        740 27 A STORAGE facility for fine arts like Christie’s at Singapore FreePort will open up opportunities for major art collectors to buy more art, says Joseph Stasko, international managing director of Christie’s Fine Arts Storage Services (CFASS). “They’ll be more interested in buying installations
        740 words
      • Article, Illustration
        Lock icon Aiming to create unique events
        856 27  -  New players in Singapore’s burgeoning art market are starting to make the local scene a hive of activity. CHEAH UI-HOON spotlights a new art initiative and a gallery, and looks at how major art purveyor Christie’s new art storage service is creating a buzz in
        YEN MENG JIIN  -  856 words
      • Article, Illustration
        Lock icon A place to exchange ideas and learn
        617 27 PRIVATE banker Can (pronounced Jahn) Yavuz’s discovery of art began in London in the mid-90s, when he was studying developmental economics at the School of Oriental and Asian Studies. There, he helped a friend catalogue a European art collector’s collection. “That was a
        617 words
    • CINEMA
      • Article, Illustration
        Lock icon Compelling mind games
        751 28  -  Christopher Nolan’s Inception is an elaborate film that blurs the line between reality and its mind-blowing alternatives, says GEOFFREY EU GEOFFREY EU INCEPTION begins with a fairly conventional opening scene in which a man washes up on a distant shore under mysterious circumstances and then things start
        751 words
      • Article, Illustration
        Lock icon Gen-Xers will get a kick out of this
        627 28  -  By DYLAN TAN NOBODY takes the 1980s more seriously than Hot Tub Time Machine’s writer Josh Heald. And who can blame him? With all the glam rock bands, appalling fashion, dodgy mullet haircuts and clunky Walkmans that have come to define the
        627 words
      • Article, Illustration
        Lock icon Post-apocalyptic virtual muppets
        406 28  -  DVD REVIEW By CHRISTOPHER LIM AFTER you’ve watched the short film that 9 was based on, and waded through the thicket of background information on the animated feature film’s website, a fascinating tale emerges. Unfortunately, when one needs a lot of supplementary material to make sense of
        406 words
      • Article, Illustration
        Lock icon Taiwanese movie with a lot of heart
        569 28  -  By DYLAN TAN THE resurgence of the Asian film industry continues as Taiwan filmmakers keep pace with their Hong Kong counterparts. But unlike the latter who take the mainstream approach by pushing out populist flicks and pander to the mainland Chinese market, a
        569 words
    • MUSIC/GAMING
      • Article, Illustration
        Lock icon Great concert makes up for weak album
        765 29  -  F.I.R. wove plenty of magic with the help of Stefanie Sun, says CHRISTOPHER LIM CHRISTOPHER LIM WHAT do you do when you have to throw a concert on the heels of a weak studio album? F.I.R.’s solution was to play almost everything else
        765 words
      • Article, Illustration
        Lock icon Jay Chou just as memorable
        659 29  -  CD REVIEW By CHRISTOPHER LIM ONLY Jay Chou could sell out three consecutive concert dates within minutes, leaving fans banging computers in frustration and Sistic’s website an inoperable mess. And if you were lucky enough to snag yourself tickets, however, there’s no better way to
        659 words
      • Article, Illustration
        Lock icon Great team action, but no real plot
        486 29  -  By CHRISTOPHER LIM THERE aren’t that many games that let you jump into a gun-fight with three friends without much preamble and start blowing things up. Crackdown 2 is a sequel set a decade after the original 2007 game. Its biggest strength is
        486 words
    • NIGHT OUT/ARTS
      • Getting high on the rooftop
        • Article, Illustration
          Lock icon Touching new highs
          530 30  -  282 (Tel: 6438 0410) and 1-Altitude Gallery Bar (to be opened) 1-Altitude, One Raffles Place New high-altitude bars look set to take Singapore’s nightlife scene to the next level. MELISSA LWEE looks at four of them to find out if drinking in high places really makes a
          530 words
        • Article, Illustration
          Lock icon New kid on the block
          353 30 ION Sky Level 55 and 56 of the joint Orchard Turn development WHEN ION Orchard opened its doors to the local public last year, the mall was, quite literally, the talk of the town. Later this year, however, it may have to content with sharing
          353 words
        • Article, Illustration
          Lock icon A cool ‘secret find’
          495 30 fabrika by Chivas 18 (Tel: 6521 9029) 17th floor Sky Terrace, klapsons, The Boutique Hotel, 15 Hoe Chiang Road IF you don’t know where to look, you may very well miss the spanking new fabrika by Chivas 18 bar that just soft-launched last week. After all,
          495 words
        • Article, Illustration
          Lock icon A slice of paradise
          405 30 Lantern (Tel: 6597 5299) Rooftop, The Fullerton Bay Hotel, 1 Fullerton Road ITS name was derived from Clifford Pier’s historical Chinese name Red Lantern Pier. But despite having a seemingly Chinese moniker, one’s first impression of Fullerton Bay Hotel’s rooftop bar, Lantern, is that there is
          405 words
      • Article, Illustration
        Lock icon Eco-friendly designs at Garden Fest
        604 30  -  By NATALIE KOH THE Singapore Garden Festival has begun and levels four and six of Suntec International Convention and Exhibition Centre have been transformed into gardens of beauty. Some designs have more than just beauty in common, though, as common themes unintentional, of course were
        PHOTOS BY YEN MENG JIIN; YEN MENG JIIN; SINGAPORE GARDEN FESTIVAL  -  604 words
    • ARTS/WINE
      • Article, Illustration
        Lock icon Ever-changing Night Festival
        837 31  -  For the third edition of the annual Night Festival, which begins tonight, the National Museum of Singapore has taken a back-seat, letting curator Ong Keng Sen of TheatreWorks take the helm, reports NATALIE KOH NATALIE KOH REGULARS to the Night Festival would notice that this year’s festival
        837 words
      • Article, Illustration
        Lock icon When grace and elegance equal power
        1108 31  -  By N K YONG I WAS recently privileged to be a guest at one of the monthly dinners of a group who now call themselves the “Imperial Treasure Club”, for obvious reasons. The theme for that dinner was Chateau Palmer from the current and
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      • AROUND TOWN
        • Article
          Lock icon Large women, large heart
          147 31 MANY people who know Aziza Ali know her for running Aziza Restaurant. What many people do not know is that she is also an artist. After two decades of operating her successful restaurant, she has moved on to exhibiting her artworks. Aptly named Larger Than Life,
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        • Article, Illustration
          Lock icon Nudes by the sea
          182 31 LOCAL artist Yeo Siak Goon is having his third solo exhibition at Utterly Art. Entitled Passion On The Beach, Yeo has created nudes inspired by the sea as he views the wet sand, the smell of salt breeze and the roar of the surf as sensual.
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        • Article
          Lock icon Final farewell to VCH
          104 31  -  Compiled by NATALIE KOH AS part of the Victoria Concert Hall Closing Concerts, the SSO has put up two lunchtime recitals at the concert hall, and will be putting up its third and last lunchtime recital next week. Organist Margaret Chen presents an Organ Spectacular, featuring
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    • FESTIVALS AROUND THE WORLD
      • Article, Illustration
        Lock icon Putrajaya in full bloom
        805 32  -  Even as Singapore’s Garden Festival kicks off, Malaysia’s Floria Putrajaya, which runs until Sunday, is captivating visitors with its exotic and rare plants. By PAULINE NG The writer is BT’s Kuala Lumpur correspondent HUNDREDS of thousands of flowers have transformed Malaysia’s federal administrative capital into a
        PHOTOS BY PAULINE NG  -  805 words
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  • Page 31 Miscellaneous
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      361 31 CRYPTIC CROSSWORD Across 1 Fish for each companion (5) 4 Persuade that underwear is being laundered (9) 9 Round area complete, say, but there’s an airy gap! (5,4) 10 Bowl a girl redesigned (5) 11 Bird to be cooked, willow warbler perhaps (4-3) 12 Way to exhaust the economy? (7)
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      12 32 Brought to you by Ascott This series is brought to you by
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