The Business Times, 17 July 2010

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Microfilm: NL30728
Total Pages: 50
1 120 The Business Times
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  • Title Section
    Lock icon Masthead
    17 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg JULY 17-18, 2010 S$1.00 MICA(P) 124/08/2009 S|Sl A SINGAPORE PRESS HOLDINGS PUBLICATION
    17 words
  • Article, Illustration
    Lock icon Heavy-handed AgBank falls short of IPO hype
    634 1  -  Its tough tactics leave funds unimpressed; Fitch report contributes to dull response By Jamie Lee leejamie@sph.com.sg Singapore THE dream of launching the world’s biggest initial public offering (IPO) may be over as the Agricultural Bank of China (AgBank) had an insipid listing in
    XINHUA  -  634 words
  • Article, Illustration
    Lock icon YOG, F1, Manchester Utd – Aon’s got them covered
    930 1  - YOG, F1, Manchester Utd Aon’s got them covered Coming-out party of the world’s biggest insurance brokerage By Lee U-Wen leeuwen@sph.com.sg Singapore QUICK. What are the two biggest eventsonSingapore’ssportingcalendar this year and what do they have in common? The answer to the first question is easy, with next month’s inaugural Youth
    930 words
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      Lock icon Page 1 Advertisements Column 1
      124 1 receding gloom BP stops oil leak in Gulf of Mexico THIS raises hopes in the White House and among affected coastal communities of an end to the worst US oil disaster. 2 winning gambit Goldman gains from settlement DEAL with the SEC comes below analysts’ estimates of at least US$1
      124 words
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      23 1 SHOW ME THE MONEY Making ‘recession’ pay off 33 the raffles conversation MAGNUS BOCKER, CEO OF SGX 8 -9 MOTORING Rising sun L18
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  • TOP STORIES
    • Article, Illustration
      Lock icon BP stops oil leak in Gulf of Mexico
      583 2 This raises hopes of an end to the US’s worst oil disaster AFP New Orleans, Louisiana BP has halted the Gulf of Mexico leak for the first time in three months, raising hopes in the White House and among devastated coastal communities
      AFP; REUTERS  -  583 words
    • Article
      Lock icon MARKETS
      137 2 STI 2,957.72 (+14.17) STI FUTURES 2,957.00 (+14.00) SIMSCI 349.78 (+1.56) SIMSCI FUTURES 350.20 (+1.60) STOCKS Friday Change KL COMP 1,336.65 +2.57 NIKKEI 225 9,408.36 -277.17 HANG SENG 20,250.16 -5.46 SET 827.54 +6.52 JAKARTA 2,992.45 +11.85 MANILA 3,442.68 -24.95 KOSPI 1,738.45 -12.84 SHENZHEN B 596.34 -0.02 MUMBAI IND 17,955.82 +46.36
      137 words
    • Article
      Lock icon Correction
      49 2 IN “Merck to close chemical plant here by end 2011” (BT, July 16), a wrong time frame was given for cessation of chemical manufacturing at the 21 Tuas South Avenue 6 plant. It should be by the end of 2012, not 2011. We are sorry for the error.
      49 words
    • Article
      Lock icon Goldman gains from settlement with SEC
      665 3 End to uncertainty about the bank boosts stock, adding US$3b to market cap Bloomberg New York GOLDMAN Sachs Group Inc’s US$550 million settlement with US regulators on Thursday will benefit the firm by ending three months of uncertainty at an affordable price. Now, the
      Bloomberg  -  665 words
    • Article
      Lock icon Goldman wins on points
      382 3  -  &*®St REUTERS BREAKINGVIEWS By Antony Currie NEITHER Goldman Sachs nor the Securities and Exchange Commission comes out of their slugfest looking pretty. But in settling fraud charges without admitting guilt, the Wall Street firm has beaten the regulator on points, despite a record penalty. That doesn’t
      382 words
    • Article
      Lock icon Fun for the whole island
      575 4  -  A commemorative Singapore edition of Monopoly, replete with waterlogged Orchard Road, may be in order saturday soapbox| By Joyce Hooi joyceh@sph.com.sg THE immediate reaction to Monopoly’s75thanniversary this week has been a little bemused “Who plays Monopoly anymore?”. But actually, plenty of people, surprisingly, still play
      575 words
    • Article, Illustration
      Lock icon CMMT makes debut, looks to long-term resilience
      625 5  -  Reit’s IPO proceeds will be channelled into new assets, says CapitaMalls Asia chief By Pauline Ng btworld@sph.com.sg Kuala Lumpur CAPITAMALLS Malaysia Trust (CMMT) made its debut on the Malaysian stock exchange yesterday, stressing its long-term resilience despite a tepid launch. CapitaMalls Asia (CMA)
      625 words
    • Article
      Lock icon S’pore builds another pillar in bid to be smart energy economy
      585 5  -  By Ronnie Lim ronnie@sph.com.sg Singapore SINGAPORE is installing another key pillar in its bid to be a smart energy economy, that is, one that is resilient, sustainable and innovative in energy use. The Experimental Power Grid Centre (EPGC), that
      585 words
    • Article, Illustration
      Lock icon Obama set to sign banking bill as Senate gives nod
      708 6 New law will protect consumers from big banks’ ‘tricks and traps’, says president AFP Washington THE US Senate gave final approval on Thursday to the most sweeping rewrite of Wall Street rules since the Great Depression of the 1930s, handing
      AFP; AP  -  708 words
    • Article
      Lock icon Citi and BoA report better than expected earnings
      612 6 Reuters Bloomberg New York CITIGROUP Inc and Bank of America posted better-than-ex-pected quarterly earnings that showed credit losses are easing but loan demand remains lacklustre. Citigroup’s net income fell 37 per cent in the second quarter, largely because of a one-time af-ter-tax
      Reuters; Bloomberg  -  612 words
    • Article, Illustration
      Lock icon Nothing goes to waste here
      529 7  -  Rachel Sim takes a look at the operations of Keppel Seghers Tuas plant. energy Rachel Sim urning waste has now become a source of energy and the entire process takes only an hour or so. The Keppel Seghers Tuas Waste-to-Energy (WTE) plant, which has the
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      129 2 CONTENTS NEWS Top Stories 2-7 Raffles Conversation 8-9 Week in Review 10 Companies 11-14 From The Desk Of 15 Singapore 16-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-32 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Dining L2-4 Style L5 Shopping L6-7 Home& Garden L8
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  • Page 3 Advertisements
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      Lock icon Page 3 Advertisements Column 1
      99 3 Everyday wmAtyjA Full Length Wood Frame Mirror UP: $699 Now $399 *-„Y. prices 11 is now ON! Lounge Set Wicker Set 2+1+1+ Coffee Table $369 $999 UP: $799 Now UP: $1599 Now UP: $599 High back $229 Dining Chair Now Queen Size Bedframe UP $79 UP: $129 Now Now Metal
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      5 3 ??Blankfein emerges unscathed, Page 22
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      67 5 Cove Drive *****/ ***** sqft. Full seaview berth. Wide frontage. Top quality. Cove Drive *****/***** sqft. Full seaview. 40M frontage. 30M Pool. Park 8 cars. Cove Grove *****/***** sqft. Unblocked seaview with Pte Berth. Rare. •Treasure Island *****/ ***** sqft. Best of the best quality. •Ocean Front Super Penthouse. 8700
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon The mythbuster
      2526 8/9  -  mythbusterMagnus Bocker, CEO of the Singapore Exchange, sets out to debunk misperceptions and raise SGX’s game. By Wong Wei Kong By Wong Wei Kong weikong@sph.com.sg MAGNUS Bocker asked to meet at a corner coffee shopon Purvis Street. Let’s not do this in an office please, he had said,
      ARTHUR LEE  -  2,526 words
  • Page 8/9 Advertisements
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      Lock icon Page 8/9 Advertisements Column 1
      70 8/9 The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels Resorts. Raffles Hotels Resorts epitomizes enchanting experiences, embodying global sophistication and residential charm. Each is exclusive, intimate with a distinctive sense of place, imbued with heartfelt service that is intuitive and unobtrusive “like a gentle breeze”.
      70 words
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK | July 12-16, 2010
      • Article
        Lock icon Big Four find magic bullet to trim costs
        64 10 AN increasingly competitive marketplace and growing price pressures are pushing public accounting firms to get creative with how they manage their costs. An emerging trend with the Big Four firms here, given their global network, is to outsource some of their work
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      • Article
        Lock icon DPJ poised to lose majority in upper house
        68 10 PRIMEMinister Naoto Kan’s Democratic Party of Japan and its tiny partner, the People’s New Party, were set to lose their combined majority in Parliament’s upper house, exit polls showed. The DPJ would win just 47 seats and the PNP none, reflecting public
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      • Article
        Lock icon SGX may push boundaries, dabble in investor relations
        50 10 THE Singapore Exchange is not just looking to break new ground in sectors like fixed income and commodities, but is also pushing into non-traditional areas like investor relations and market data services. The move could pit the exchange against existing market players.
        50 words
      • Article
        Lock icon Spain’s stock rises on the pitch, in the markets
        58 10 BETWEEN June 11 and July 12 the duration of the Fifa World Cup 2010 Spain’s IBEX 35 Index chalked up a gain of 8.91 per cent in US dollar terms. It is the world’s second best-performing bourse during that period, after
        58 words
      • Article
        Lock icon MM Lee: Invest in China with confidence, guanxi
        60 10 SINGAPOREANS looking to invest in China should do so with confidence and the requisite “guanxi”, said Minister Mentor Lee Kuan Yew. “Singapore’s businessmen are largely welcomed in China. Many Chinese officials from the various provinces come to Singapore for training in urban
        60 words
      • Article
        Lock icon SPH net profit for Q3 up a robust 29.9%
        60 10 SINGAPORE Press Holdings has reported a 29.9 per cent increase in net profit for the third quarter, thanks to a strong rebound in advertising sales and higher contribution from its property segment. Earnings for the three months ended May 31 stood
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      • Article
        Lock icon Biggest collective sale of the year clinched
        58 10 A COLLECTIVE sale is said to have been sealed for Meng Garden Apartments off Killiney Road for $137 million or about $1,380 per square foot per plot ratio, including an estimated development charge of $681,000. This is the biggest collective sale transacted this
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      • Article
        Lock icon S’pore’s first-half growth leave forecasters gasping
        60 10 WITH a sizzling 18 per cent first-half pace in the bag, Singapore is on track to post a near-40-year-high economic growth this year, if not its highest ever. The Ministry of Trade and Industry on Wednesday bumped up the official forecast of 2010 GDP
        60 words
      • Article, Illustration
        Lock icon OUT OF THE MONEY
        30 10 Bad advice from IBM’s Asia-Pacific team outside Singapore for a routine repair job at DBS is likely to have caused the massive systems failure FILE PHOTO
        FILE PHOTO  -  30 words
      • Article
        Lock icon Foreign worker inflow to top 100k this year
        54 10 WITH record economic growth likely for Singapore this year, Prime Minister Lee Hsien Loong sees the inflow of at least another 100,000 foreign workers into the country. And this despite the gov- ernment’s efforts to manage the flow with finer calibrations of
        54 words
      • Article
        Lock icon Bad advice from support unit caused DBS system crash
        51 10 BAD advice from a member of IBM’s Asia-Pacific teamoutside Singapore for a routine repair job on DBS Group’s data storage system is likely to have caused the massive systems failure that prevented the bank’s customers from accessing their accounts on July
        51 words
      • Article
        Lock icon A breather for home sales in lazy June
        46 10 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 the smallest number since the start of the year.
        46 words
      • Article
        Lock icon AIG chairman quits after losing power struggle
        71 10 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 the company were wondering which of the two men would survive the coming showdown.
        71 words
    • NEXT WEEK | July 19-23, 2010
      • Article
        Lock icon US DATA
        13 10 July 22 Initial claims Continuing claims Existing home sales Leading indicators
        13 words
      • Article
        Lock icon SINGAPORE DATA
        8 10 July 23 June consumer price index
        8 words
      • Article
        Lock icon EVENTS
        77 10 July 20 WASHINGTON Britain’s Prime Minister David Cameron to visit the US for talks with President Barack Obama July 21 LONDON Bank of England (BoE) to publish minutes of July 7-8 Monetary Policy Committee (MPC) meeting July 22 OTTAWA Bank of Canada Monetary Policy Report July 23 FRANKFURT European
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  • Page 10 Miscellaneous
    • Miscellaneous
      Lock icon Page 10 Miscellaneous Column 1
      305 10 CRYPTIC CROSSWORD Across 1 Fear of being wrongly partitioned (11) 9 Be not as important as many (9) 10 Kingdom not fancied by many (5) 11 A boring set-up (3,3) 12 Starfish disclosed by tides or a storm (8) 13 Make-up puts mother in a strong position (6) 15 Check
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  • COMPANIES
    • Article, Illustration
      Lock icon Frasers Centrepoint buys StarHub Centre for $380m
      659 11  -  CapitaCommercial Trust will book a net gain of about $109.1m from the divestment By Kalpana Rashiwala kalpana@sph.com.sg Singapore FRASERS Centrepoint Ltd has inked a deal to buy StarHub Centre at Cuppage Road for $380 million from CapitaCommercial Trust (CCT). CCT will book a
      659 words
    • Article
      Lock icon A-Reit posts 3.5% rise in Q1 distributable income
      365 11  -  By Karen Ng karenng@sph.com.sg Singapore ASCENDAS Real Estate Investment Trust (A-Reit) has posted a 3.5 per cent rise in distributable income to $63.1 million for its first quarter ended June 30, up from $61 million a year earlier. The period saw net
      365 words
    • Article
      Lock icon FM in bid to avert delisting
      270 12  -  By Joyce Hooi joyceh@sph.com.sg Singapore FM Holdings could face delisting if it is not granted an extension by the Singapore Exchange (SGX) when its three-month period to find a sponsor ends tomorrow. The giftware manufacturer said yesterday that it has asked the exchange for
      270 words
    • Article, Illustration
      Lock icon ComfortDelGro makes play for Swan Taxis
      418 12  -  A$38.8m cash takeover bid launched for Aussie firm, which has 9% share of the Perth metropolitan market By Joyce Hooi joyceh@sph.com.sg Singapore COMFORTDELGRO Corporation has launched an A$38.8 million (S$46.5 million) cash takeover bid for Australia’s Swan Taxis, which has a 91 per cent
      418 words
    • Article, Illustration
      Lock icon Oceanus sets its eyes on lobster aquaculture
      450 13  -  It ties up with Aussie aquaculture technology firm to research commercial production By Rachel Sim rachsim@sph.com.sg Singapore SINGAPORE-LISTED abalone producer Oceanus Group has cast its net wider it has entered into a collaboration framework agreement with an Australian lobster aquaculture technology company to
      450 words
    • Article, Illustration
      Lock icon Smartflex IPO 4.2 times subscribed
      244 13 Singapore SMARTFLEX Holdings, a provider of integrated circuit module assembly and testing services for contact and dual interface smart cards, said yesterday that its recent initial public offer drew strong interest from institutional and retail investors. The IPO of 13 million new shares comprised 1.5
      244 words
    • Article
      Lock icon BH Global Marine posts Q2 net profit of $2.7m
      316 13 Singapore BH Global Marine, a supply chain management company that supports the offshore and oil and gas industry, yesterday reported a net profit of $2.7 million for the second quarter ended June 30 down 32 per cent from a year back.
      316 words
    • Article, Illustration
      Lock icon An odd but ultimately firm week for stocks
      611 14  -  stocks| R Sivanithy sivan@sph.com.sg Senior correspondent IN many respects it was an odd week for local stocks, but on reflection, maybe one that turned out within expectations. Players were puzzled by the market’s lack of reaction to news of a surprise upward
      611 words
    • Article, Illustration
      Lock icon Bursa may add S’pore to stock-trading link: CEO
      385 14 Bloomberg Kuala Lumpur BURSA Malaysia Bhd may add Singapore into a group of South-east Asian countries that could interlink their stock exchanges, chief executive officer Yusli Mohamed Yusoff said yesterday. Malaysia is already in talks for a possible stock-trading link with Thailand,
      Bloomberg; AP  -  385 words
    • Article
      Lock icon TOP GAINERS
      129 14 BY CENTS CLOSE UP DBXT iBoxxSvEu 5US$ ***** 514.1 1.7 DBXT AUDMM 5SG$ ***** 275.0 1.2 JMH 4030 79.7 1.5 Jardine C&C 3452 64.0 1.9 DBXT Nifty 10US$ ***** 27.5 0.2 STXPO 100 1314 26.0 2.0 DBXT MSWorld 10US$ 271 24.7 7.1 DBS Grp 1480 18.0 1.2 OCBC
      129 words
    • Article
      Lock icon TOP 20 ACTIVES
      111 14 VOL CLOSE GoldenAgri 189,977 56 2.0 3.7 LeaderEnv 164,198 23 0.0 0.0 Abterra 47,939 5 0.5 11.1 NobleGrp 26,592 170 -1.0 -0.6 JiutianC 23,979 6.5 0.0 0.0 IndoAgri 22,379 223 10.0 4.7 GentingSP 22,311 119 0.0 0.0 KTLGlobal 21,004 37.5 1.0 2.7 DMXTech 18,246 36 1.0 2.9
      111 words
    • Article
      Lock icon STI STOCKS
      106 14 Stock name Close Change CapMallsAsia 2.060 -0.010 CapitaLand 3.790 +0.010 CapitaMall 1.970 -0.010 CityDev 11.340 ComfortDelGro 1.510 +0.010 DBS Grp 14.800 +0.180 F&N 5.470 Genting SP 1.190 Golden Agri 0.560 +0.020 HK Land 5.160 +0.010 JMH 40.300 +0.580 JSH 23.380 +0.080 Jardine C&C 34.520 +0.640 Keppel Corp 8.800
      106 words
  • Page 11 Advertisements
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      Lock icon Page 11 Advertisements Column 1
      27 11 GCB Land Mt Echo Park Land Size 16,826 sqft Ideal for rebuild Vacant Possession Quiet ambience North/East facing Appointed Sole Agent Citiprop Pacific KC Ng 9853 1001
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      Lock icon Page 12 Advertisements Column 1
      37 12 BIGON THE BIG WALK? the new paper BigWalk thenewpaper Check out The New Paper for BIG Big Walk news Walkers, grab and keep your free copy of The New Paper on Sunday for a BIG surprise bonus!
      37 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon No ‘control freaks’, please
      819 15 The expression ‘control freak’ is horribly overused. But it’s a term of abuse that is entirely appropriate for those diehards who don’t understand the realities of modern management from the desk of WITH an economy built on human capital, rather than natural resources, Singapore can teach
      819 words
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  • SINGAPORE
    • Article, Illustration
      Lock icon New Phoenix emerging on Orchard Road
      547 16  -  Plans for former Specialists’ Shopping Centre and Hotel Phoenix site include 500 hotel rooms, 224,000 sq ft of retail space By Felda Chay feldac@sph.com.sg A NEW shopping and hotel destination is set to take the Orchard shopping belt by storm in 2013. On offer
      547 words
    • Article
      Lock icon More initiatives unveiled to help HDB shops
      247 16  -  By Olivia Ho oliviaho@sph.com.sg THE Housing Development Board yesterday unveiled more initiatives to help HDB shops, including the selection of 35 sites for batch three of its Revitalisation of Shops (ROS) scheme. ROS, which kicked off in November 2007 and has since covered
      247 words
    • Article, Illustration
      Lock icon Casino ops will not be micromanaged: CRA
      430 17  -  But IRs must tackle issues of crime, law and order, dishonest gaming, ensure regulatory and social safeguards are implemented By Arthur Sim simska@sph.com.sg THE incidents of theft and cheating at Singapore’s two casinos may be becoming regular features widely reported in the media
      430 words
    • Article
      Lock icon No money-laundering at casinos so far: CAD director
      253 17  -  By Conrad Tan conradt@sph.com.sg NO money-laundering cases have been detected so far at the two casinos in Singapore, a senior police officer said yesterday. Ong Hian Sun, director of the Commercial Affairs Department, the white-collar crime unit of the Singapore Police Force,
      253 words
    • Article
      Lock icon Marina at Keppel Bay bags 5 Gold Anchors accolade
      386 17 THE Keppel group’s Marina at Keppel Bay has become the first such facility in Asia to be awarded the 5 Gold Anchors rating from the Marina Industries Association of Australia (MIAA). The award, for excellence in services and facilities, was presented
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    • Briefing
      • Article
        Lock icon IRAS stamping service goes online
        50 17 THE Inland Revenue Authority of Singapore will launch its e-Stamping website (https://estamping.iras.gov.sg) on July 27. The new site is free for all individuals and businesses who wish to stamp their documents electronically from their homes or offices and where they can pay their stamp duties.
        50 words
      • Article
        Lock icon Scholarship-varsity fair opens tomorrow
        42 17 THE Scholarship Top University Fair opens tomorrow and will feature booths from top universities such as Columbia, MIT, Yale and Princeton. Premium employers offering scholarships such as Singapore Press Holdings, and the Ministry of Education will be present.
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      • Article
        Lock icon New Asia-PaC, M-E, Africa president for Nielsen Company
        53 17 THE Nielsen Company, a global information and measurement company, appointed Leung Cheong Tai as president for the Asia Pacific, Middle East and Africa with effect from Aug 1 2010. She will be the first woman and Singaporean to be appointed to the
        53 words
      • Article
        Lock icon Online initiative for chronic respiratory diseases
        51 17 A LEADING group of general practitioners (GPs) in Asia launched a multi-country online educational initiative in Singapore, to improve the diagnosis and management of people with chronic respiratory diseases across the region. This is an initiative to boost Best Practice in Primary Care Respiratory
        51 words
    • Article, Illustration
      Lock icon CBRE names new S-E Asia chief executive
      474 18  -  Pauline Goh will continue in her current role as managing director for Singapore By Kalpana Rashiwala kalpana@sph.com.sg CB Richard Ellis (CBRE) has named Pauline Goh its chief executive for South-east Asia from July 1. Ms Goh, 51, will also continue in her current
      PHOTO: YEN MENG JIIN  -  474 words
    • Article
      Lock icon ChildAid this year will include a guest performer from China
      338 18  -  Chinese Chapter of the Budding Artists Fund will also be launched By Chan Yuping ypchan@sph.com.sg A YOUNG musician from China will be chosen to join talented Singaporean child musicians to perform at this year’s ChildAid concert, a charity event organised
      338 words
  • Page 16 Advertisements
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      Lock icon Page 16 Advertisements Column 1
      41 16 CJ U r"N t y n J 3 \Q_TFIND THE ONES ~> s\ THAT FIT! (j L) Recruit the right people through CATS Recruit. Call 1800 289 8822 or email I recruit@sph.com.sg J to advertise. v j MATS U VI RECRUIT IL
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  • WORLD
    • Article
      Lock icon Consumer sentiment turns sour in July
      486 19 Consumer Price Index dips 0.1% in June; less expensive energy bills a big factor behind drop latest us data Bloomberg AP Washington CONFIDENCE among US consumers slumped in July to the lowest level in a year, signalling the biggest part of the economy is
      Bloomberg; AP  -  486 words
    • Article, Illustration
      Lock icon US economy only ‘40, 50% back’, Buffet tells Obama
      455 19 AFP Washington US President Barack Obama said on Thursday he received a warning from billionaire investor Warren Buffet, who told him the United States is only 40 to 50 per cent recovered from its withering recession. While the president acknowledged the
      AFP; REUTERS FILE PHOTO  -  455 words
    • Article
      Lock icon Larry Williams sees China as next ‘fallen angel’
      423 19 Bloomberg New York LARRY Williams, a trader who correctly forecast the 1982-87 bull market, said the bear run in Chinese equities may last until at least 2012, based on a benchmark index’s exponential growth followed by steep declines. The quadrupling in the
      Bloomberg  -  423 words
    • Article
      Lock icon South Korean firm buys 72.32% of Titan Chemicals for RM2.94b
      375 20  -  Honam must now make mandatory cash offer for remaining Titan shares By Pauline Ng btworld@sph.com.sg Kuala Lumpur SOUTH Korea’s Honam Petrochemical Corporation has bought 72.32 per cent of Malaysia’s Titan Chemicals Corporation for RM2.94 billion (S$1.24 billion) cash, or RM2.35
      375 words
    • Article, Illustration
      Lock icon GE reverses decline with 16% rise in Q2 earnings
      337 20 Reuters Boston GENERAL Electric Co reported a 16.1 per cent rise in second-quarter profit, ending nine straight quarters of declines, as strong demand for healthcare, and oil and gas equipment boosted results. The largest US conglomerate said yesterday net earnings attributable
      Reuters  -  337 words
    • Article
      Lock icon China to stay with policies that cooled growth: Wen
      361 20 Reuters Beijing CHINA will stick with the policies that cooled economic growth last quarter and will keep faith with the euro despite Europe’s debt problems, Premier Wen Jiabao said yesterday. At a joint news conference with visiting German Chancellor Angela Merkel,
      Reuters  -  361 words
    • Article, Illustration
      Lock icon Restive Google investors ask: what’s next?
      765 21 Shares down 4% after company reports 24% rise in both revenue and net income in Q2; stock has declined 17% over past 3 months NYT San Francisco LIKE an impatient audience at intermission, Google’s investors are waiting for its second act. Google continues to
      NYT; AP  -  765 words
    • Article
      Lock icon Paul Allen plans to donate half his fortune to charity
      311 21 NYT New York PAUL ALLEN, who founded the Microsoft Corp with Bill Gates, announced on Thursday that he planned to give more than half of his estimated US$13.5 billion fortune to charity. Allen is among a growing number of wealthy
      NYT  -  311 words
    • Article
      Lock icon Chinese govt newspaper gives tips on US property
      206 21 Reuters Beijing HUNTING for a property bargain? Worried that prices in China are too high? Have you thought about the United States instead? Let me help. It sounds like a real estate agent’spitch.ButChineserealestate investors curious about America needed to look no further
      Reuters  -  206 words
    • Article
      Lock icon Financier gets 12 yrs for Ponzi scheme
      184 22 NYT New York THE Park Avenue financier and political donor who pleaded guilty to stealing US$292 million from three banks in a Ponzi scheme was sentenced on Thursday to 12 years in prison. Hassan Nemazee, who had donated to philanthropic causes and given
      NYT  -  184 words
    • Article, Illustration
      Lock icon Goldman chief Blankfein emerges unscathed
      761 22 Though many consider this a win for Goldman, investors may file civil claims against the bank NYT New York THE word spread through Wall Street just before 3:30 on Thursday afternoon: It looked as if Lloyd Blankfein had finally struck a deal. Even before the
      NYT; REUTERS  -  761 words
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  • SGX
    • Article
      Lock icon Transaction date: Jul 16
      8971 23 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 20 8 3148 8Telecom 19 +2 ***** 20 17 19 19.5 1.7 9.5 6.1 91 10 5.5 5834 A-Sonic 9.5 +1
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    • Article
      Lock icon SGX CATALIST
      1782 26 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 10 5 1181 t AA Grp 5.5 +0.5 1 5.5 5.5 5 5.5 30.6 5.3 22.5 13 8538 t APStrategic 18.5 +0.5 18
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 5 3 0 0 0 8 5 3 Manufacturing 61 35 75 6 3 9 67 38 84 Commerce 25 16 20 5 0 5 30 16 25 Tpt/Stor/Comms 14 14 13
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      830 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Jul 12 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) ISDN Hldgs Ltd 14-Jul-10 Teo Cher Koon *Sell 5000 0.20 *****3 54.04 *****3 51.53 ISDN Hldgs Ltd
      830 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN SDQ TOTAL Multi Ind 28,269 28,269 38,911 38,911 Manufacturing 249,423 5,277 254,700 181,362 874 182,236 Commerce 135,745 19,614 155,359 88,519 4,583 93,102 Tpt/Stor/Comms 77,000 410 77,410 116,404 28 116,432 Finance 18,413 103 18,516 117,700 11 117,711 Construction 15,449 6,114
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  • MARKETS
    • Article, Illustration
      Lock icon STOCK MARKETS
      91 27 YTD change: +2.07% 52-week high: 3,037.97 on April 15,2010 52-week low: 2,389.29 on July 17,2009 Source: Bloomberg YTD change: -7.42% 52-week high: 23,099.50 on Nov 18,2009 52-week low: 18,303.50 on July 16,2009 Source: Bloomberg YTD change: -26.03% 52-week high: 3,478.01 on Aug 4,2009 52-week low: 2,319.74 on July
      Source: Bloomberg  -  91 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      374 27 In local curr In S$ In US$ dy yr dy yr dy yr Jul 15 Index Change Change Change Change Change Change World Index Preliminary 800.5 -0.9 -3.8 -0.5 -7.2 -0.5 -5.2 ‡EAFE Preliminary 743.8 -1.0 -5.2 -0.1 -10.2 -0.1 -8.3 Europe Preliminary 1079.3 -0.9
      374 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 27 Jul 16 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2054 1.2067 0.8769 0.8771 Canadian dollar 1.3196 1.3210 0.9600 0.9602 Euro 1.7780 1.7800 1.2935 1.2938 NZ dollar 0.9849 0.9866 0.7165 0.7171 Sterling pound 2.1210 2.1233 1.5430 1.5433
      154 words
    • Article
      Lock icon LIFFE
      82 27 Jul 15 COCOA (£/tonne) Close Prev High/Low Jul 10 2713 unch 2732/2665 Sep 10 2419 2436 2448/2401 Dec 10 2253 2265 2274/2237 Mar 11 2207 2220 2224/2197 COFFEE (US$/tonne) Close Pev High/Low Jul 10 1730 1709 1740/1725 Sep 10 1753 1731 1785/1727 Nov 10 1761 1736 1784/1731 Jan 11
      82 words
    • Article
      Lock icon CHICAGO BOT
      103 27 Jul 15 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Aug 10 1019.00 997.*****1.75 989.00 Sep 10 1001.00 975.*****1.75 972.25 Nov 10 988.00 962.00 989.75 959.75 Jan 11 995.00 970.25 997.25 968.25 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Aug 10 38.59 38.11 38.62 37.90 Sep
      103 words
    • Article
      Lock icon PALM OIL
      66 27 Jul 16 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 10 2471 2493 2508 2465 1071 ***** Sep 10 2443 2470 2480 2435 7624 ***** Oct 10 2422 2449 2461 2417 ***** ***** Nov 10 2420 2445
      66 words
    • Article
      Lock icon OIL
      75 27 Jul 15 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 75.33 -1.37 WTI (Near Mth) 76.51 -0.47 Dubai (1-Mth F) 74.66 0.24 Tapis blend 80.75 0.20 Minas 77.55 0.20 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 67.72 -0.61 Jet Kerosene 86.10 -0.55 US$/barrel Opec Oil Basket Price
      75 words
    • Article
      Lock icon LONDON METALS
      71 27 Jul 15 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1999.75 1990.75 3 months 2016.00 2009.00 Copper, Grade A (US$/tonne) Cash 6661.50 6705.00 3 months 6680.00 6725.00 Lead (US$/tonne) Cash 1779.50 1808.75 3 months 1798.00 1828.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
      71 words
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      Lock icon METALS
      66 27 Jul 16 GOLD (US$/oz) Jul 16 Jul 15 Hong Kong 1205.*****3.60 Jul 15 Jul 14 London 1212.*****5.40 1213.*****6.15 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 25.40 25.17 Source: UOB PLATINUM Lon (US$/oz) Jul 15 Close Previous PM Fix 1530.*****3.00 AM Fix 1529.*****8.00 Source: Thomson Reuters PLATINUM NYMEX
      66 words
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon IMF goes on Asian charm offensive
      1378 28 / 29  -  The Fund is preparing a host of new facilities in a bid to bring a largely alienated constituency within the IMF back to the fold but will its ploy work? Anthony Rowley Tokyo correspondent btworld@sph.com.sg THE IMF is “back” in Asia or so it
      BLOOMBERG  -  1,378 words
    • Article, Illustration
      Lock icon Is PM Kan already a lame duck?
      830 28 / 29  -  William Pesek JR The writer is a Bloomberg News columnist. The opinions expressed are his own. NAOTO Kan may get the state dinners and the motorcades, but he no longer runs Japan. Economist Masaaki Shirakawa does. If anything is clear since the drubbing
      830 words
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Picking stocks the bond way
        793 30 / 31  -  Portfolio manager Peter Andersen has developed a system to identify mispriced equities using bond analysis. Edward Krudy reports Edward Krudy Reuters New York PETER Andersen had his “aha moment” while managing junk bonds nearly a decade ago. He asked a stock analyst for his view
        Reuters; AP  -  793 words
      • BROKERS’ TAKE
        • Article
          Lock icon Singapore Property Sector
          388 30 / 31 DBS Group Research July 16 PREFER developers with more commercial exposure and strong balance sheet. The slower June monthly sales data was largely expected and failed to provide any near-term catalyst for residential focused property stocks. Sector valuations, although not very expensive, are not compelling enough with
          388 words
        • Article
          Lock icon Sino Grandness Food Industry Group
          363 30 / 31  -  Compiled by Joyce Hooi Buy DMG Partners Research July 16 Close: $0.325 SINO Grandness (SFGI) announced that it had entered into an agreement with Dang Yang Municipal Government of Hubei Province, whereby SFGI will invest 150 million yuan (S$30.4 million) to construct a production plant
          363 words
      • Article, Illustration
        Lock icon Wealth managers need new strategies
        519 32  -  BNY Mellon Wealth chief says in the changed investment climate, the set-and-forget strategy won’t work. By Joseph A Giannone By Joseph A Giannone Reuters New York FINANCIAL markets may never be the same after the 2008 crisis, yet too many wealth managers are using traditional
        Reuters; STOCK.XCHNG  -  519 words
      • Article
        Lock icon Commodity hedge fund banks on precious metals
        616 32 Reuters London LONDON and Capital’s Global Commodity hedge fund is investing half of its assets in precious metals, in the expectation that gold will rally by more than 12 per cent to record highs by the end of the year. Pau Morilla-Giner, senior
        Reuters  -  616 words
      • Article, Illustration
        Lock icon Making ‘recession’ pay off
        1296 33  -  The R-word index suggests a volatile period ahead and given stocks’ low valuations, it’s time to pick up the good ones show me the money Teh Hooi Ling hooiling@sph.com.sg Senior correspondent The writer is a CFA charterholder THIS week, the Ministry of Trade and Industry (MTI)
        Source: Compiled by BT  -  1,296 words
    • WEALTH REAL ESTATE
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  • Page 34 Advertisements
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      Lock icon Page 34 Advertisements Column 1
      64 34 Featuring the Quality Homes Collection Laurels. In pursuit of the finest. For enquiries: Keegan Awyang 9616 2162, kaw@savills.com.sg Jeffrey Goh 9387 3372, jtgoh@savil1s.com.sg To arrange for an appointment to view our show unit please call 6836 3338 or search with us at residential.savills.com.sg savills Savills has more than 200 offices
      64 words
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      Lock icon Page 36 Advertisements Column 1
      44 36 M iUDEMARS PlGl'ET Lc maitre de I'horlogerie depuis 1875 "H, V, \v «A ••■■I s s S6 K >«■«* Mjh r ■A f A VI 9 r% i 1 If *0* r. TRADITION MINUTE REPEATER AND PERPETUAL CALENDAR For enquiries, Tel: (65) 6238 6678 www.audemarspiguet.com
      44 words
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      51 1 JUST DESSERTS Three caterers bring the dessert bar concept to life DINING Sushi, via Tokyo L4 LivingBTTHEBUSINESSTIMESWEEKEND|JULY17-*****0BTTHE BUSINESS TIMES WEEKEND JULY 17 18 2010 SHOPPING In living colour L6-7 PHOTO: THE WEDDING CHATEAU HOME GARDEN Nature’s way L10-11 WATCHES Flight of fantasy L12 MOTORING Double trouble L20 STYLE Bulgari’s baptism
      51 words
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  • BT Living
    • DINING
      • Just desserts
        • Article, Illustration
          Lock icon The Wedding Chateau
          703 2/3  -  figstreet.blogspot.com It’s taken a couple of years, but conceptualised dessert bars have finally made their way from the US to Singapore. BT Weekend checks out three home-grown companies that offer this service which melds dessert with design, and that are tasting sweet success By Audrey Phoon BRIDES
          703 words
        • Article
          Lock icon Little House of Dreams
          551 2/3  -  littlehouseofdreams.blogspot.com By Audrey Phoon aphoon@sph.com.sg THEY say that those who love to bake, bake, while those who love to eat, eat and ne’er the twain shall meet. But Audrey Lee is a different type of cookie altogether. The dessert fan loves the gamut of sweet treats
          551 words
        • Article, Illustration
          Lock icon Let Them Eat Cake
          587 2/3  -  letthemeatcakemz.com By Melissa Lwee mellwee@sph.com.sg FOO Mei-Zee might have had Marie Antoinette in mind when she namedherdessert businessafterthequeen’sfamous– butunverified response when told that the poverty-stricken French had no bread to eat, but her rationale is completely the opposite. This talented baker really wants you to eat
          LET THEM EAT CAKE PHOTOS BY JOHN HENG  -  587 words
      • Article, Illustration
        Lock icon Sushi, the Tokyo way
        1011 4  -  Shinji Kanesaka brings his two Michelin-starred Edomae-style sushi to his first overseas outpost, in Singapore. By Jaime Ee By Jaime Ee jaime@sph.com.sg AN interesting battle of the knives is about to take place in Singapore’s Japanese restaurant scene in about 10 days’ time when a two
        PHOTOS BY YEN MENG JIIN  -  1,011 words
    • STYLE
      • Article, Illustration
        Lock icon Bulgari’s baptism
        1022 5  -  The storied Italian jeweller makes a fresh start with several new initiatives. By Corinne Kerk By Corinne Kerk btnews@sph.com.sg GOOD riddance to bad rubbish, and hello to new and exciting things–includingabeautifulhotelinLondon’supscaleKnightsbridge, just in time for the 2012 Olympics. At least, that’s what one imagines Francesco Trapani saying to
        ARTHUR LEE  -  1,022 words
    • SHOPPING
      • Article, Illustration
        Lock icon In living colour
        1479 6/7  -  Bought a property recently? Three new places with varied options for the home can help you fill it in and dress it up. By Corinne Kerk up.By Corinne Kerk btnews@sph.com.sg Interior Affairs #01-02, #02-01 Natural Cool Lifestyle Hub 29 Tai Seng Avenue ?6632 7471 AT 28,000 square
        INTERIOR AFFAIRS PHOTOS BY YEN MENG JIIN; ALT PHOTOS BY JOHN HENG  -  1,479 words
    • HOME & GARDEN
      • Article, Illustration
        Lock icon Natural selection
        867 8  -  Born out of loneliness and a love for scientific research, orchids have become a subject of interest for gynaecologist Teoh Eng Soon. By Dylan Tan Soon.By Dylan Tan dylantan@sph.com.sg LIKE the towering concrete buildings that surround us, orchids also make up much of Singapore’s landscape. But besides knowing
        YEN MENG JIIN  -  867 words
    • KEPPEL • CLIPPER ROUND THE WORLD
      • Article, Illustration
        Lock icon Bittersweet end to an unforgettable voyage
        782 9  -  The team spirit and camaraderie shared among the crews will linger long in the memory. By Vincent Wee By Vincent Wee THE final phase of any project is always a bittersweet time but even more so for the crew of Uniquely Singapore clipper. The
        ONEDITION  -  782 words
    • Article, Illustration
      Lock icon Nature’s wayIt
      1074 10/11  -  may not even come with the garden space of a landed property, but this lush tropical sanctuary celebrates a family’s love for plants. By Lim Sio Hui personal space| By Lim Sio Hui btnews@sph.com.sg AS IF the jungle of foliage outside their windows wasn’t enough, the walls of
      PHOTOS BY ARTHUR LEE  -  1,074 words
    • WATCHES
      • Article, Illustration
        Lock icon Flight of fantasy
        883 112  -  Combining art with horology and childhood dream, independent watch maker MB&F premieres the Horological Machine No 4 Thunderbolt, here in Singapore. By Dylan Tan By Dylan Tan IF Max Büsser, founder of Maximilian Büsser Friends (MB&F) had his way, you wouldn’t find any of his timepieces in
        883 words
    • GADGETS
      • Article, Illustration
        Lock icon Get smart
        919 113  -  Eyeing that touchscreen smartphone? You no longer have to spend a mint for top models. By Christopher Lim By Christopher Lim limchris@sph.com.sg PREMIUMS are no longer required for entry into the club of touchscreen phones, thanks to a new crop of affordable mid-priced models. Leading the charge is
        919 words
    • HEALTH
      • Article, Illustration
        Lock icon Good night, sleep tight
        613 114  -  Having problems sleeping? Melissa Lweeconsults a sleep doctor and checks out natural remedies for a possible solution. Melissa Lwee mellwee@sph.com.sg IT is relatively early in the morning, but the Pacific Sleep Centre located on the 20th floor of Paragon is already bursting at the seams with
        613 words
      • Article, Illustration
        Lock icon Give it up
        937 115  -  Nicorette has come up with a multifaceted campaign that includes addressing the physical, as well as psychological and behavioural dependencies on cigarette smoking that many smokers do not realise they have. By Natalie Koh By Natalie Koh IT is not uncommon to hear smokers proclaim with firm
        937 words
    • SPORT
      • Article, Illustration
        Lock icon Doing it with heart
        620 116  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Acting Deputy Foreign Editor TWO days ago, I was invited to attend the Singapore launch of the latest Manchester United football jersey. The location where the event was being held caught me off-guard at first. It wasatBoys’Town,tuckedawayin thequiet Upper Bukit
        620 words
      • Article
        Lock icon wine & dine with BTWeekend
        919 116 wine dine with BTWeekend Triple Three Level 5 Mandarin Orchard Singapore 333 Orchard Road ?6831 6288 Triple Three is back. Named for the address of the hotel 333 Orchard Road it features a new Japanese-inspired international buffet spread, helmed by Japanese Executive Chef Shigeru Akashi. Embark on a culinary adventure
        919 words
    • GOLF
      • Article, Illustration
        Lock icon All in a Day’s work
        1117 117  -  Tipped as a future star on the professional circuit, young Aussie golfer Jason Day has been working hard at his game after winning the HP Byron Nelson Championship. By Justine Moss Championship.By Justine Moss btnews@sph.com.sg HIS name may not be as familiar here as to
        AFP  -  1,117 words
    • MOTORING
      • Article, Illustration
        Lock icon RISING SUN
        719 118  -  Arguably Japan’s first supercar, only 500 units of the limited edition Lexus LFA will be sold. By Samuel Ee By Samuel Ee samuelee@sph.com.sg WHEN savouring an exquisite wine, one’s search for the appropriate terms of reference inevitably leads to comparisons with a previous vintage. But when experiencing the
        719 words
      • Article, Illustration
        Lock icon STATE OF THE ART
        483 119  -  Aesthetics come second with every line and curve having a direct impact on the LFA’s aerodynamics or operation. By Samuel Ee By Samuel Ee samuelee@sph.com.sg HARUHIKO Tanahashi is not your usual Japanese company executive. The chief engineer of the Lexus LFA isn’t shy about saying what
        483 words
      • Article, Illustration
        Lock icon DOUBLE TROUBLE
        697 120  -  The BMW M3 GTS has been re-designed to handle both the road and circuit with equal ease. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THERE is a road car that is now more like a race car and it is the newest variant of the BMW M3 called
        697 words
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      95 9 Uniquely Singapore Can Do! 35,000 nautical miles. 10 months. 1 Uniquely Singapore. From ‘Go’ to finish, the Uniquely Singapore has flown our flag high with a winsome display of courage, tenacity and the Can Do spirit! With the same winning mettle, Keppel’s 30,000-strong team strives for the common goal to
      95 words
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      8 9 this series is brought to you by www.marinakeppelbay.com
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