The Business Times, 30 July 2010

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Total Pages: 36
1 36 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|Sl A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 123/08/2009 Friday, July 30,2010
    23 words
  • 659 1  -  Giftware company ordered to de-list, now explores its exit options By JAMIE LEE [SINGAPORE] Time has run out for Catalist listing FM Holdings, which had been given some six months to find a new sponsor. FM Holdings is now forced to de-list for
    659 words
  • 141 1 ST INDEX 2,997.65 (+12.27) ST INDEX FUTURES 2,998 (+13) SIMSCI 354.98 (+1.51) SIMSCI FUTURES 354.70 (+1.30) FOREX US$ S$ US$ (S$ per US$) 1.365 (US$/S$ per 1.562 2.132 EURO (US$/S$/E) 1.303 1.778 Foreign currency per US$ S$ YEN 87.30 64.00 RM 3.194 2.339 HK$ 7.767 5.690 BAHT 32.27
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  • 732 1  -  Fourth instrument will give MAS extra flexibility in managing sudden capital flows By SIOW LI SEN [SINGAPORE] The Republic will have one more weapon to ensure financial stability. The Monetary Authority of Singapore (MAS) is introducing MAS Bills for extra flexibility to
    BLOOMBERG  -  732 words
  • Page 1 Advertisements
    • 222 1 FESTIVALS AROUND THE WORLD Jazz and pizzazz in Nice PAGE 32 TOP STORIES Building sector uneasy with cool demand up to May PAGE 4 M’sian ex-minister charged in port scandal PAGE 6 HOCK LOCK SIEW What does the future hold for Parkway? PAGE 8 You can maybe manage a global
      222 words
    • 12 1 MAS sees high economic activity for rest of the year, Page 6
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  • Page 2 Advertisements
    • 139 2 For more information please visit www.porsche.com.sg The new Cayenne, the new Panamera. Equipped with new diesel and hybrid technology. As if this is not enough groundbreaking news. We are building a new Porsche Centre in Singapore. Construction of the future Porsche Centre Singapore at 29 Leng Kee Road will start
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  • Page 3 Advertisements
    • 192 3 t- V a rY -v■•> ■V--LJ > r hi i»®| o -5* •«t?5 C4? BP -<ts<>r ■^fejj m if V :.v>#: ;jij;v iiM *1 &£5*s m m moving ItfiSS Hi iHS &s <* V,!Sf! 85$ *v .v». > ft v A?f,■ -'A'' .v '.vv,.; v "v'', fcl' -.,V &J.'.■■■'!■: 'irht'W,-
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  • TOP STORIES
    • 816 4  -  By MICHELLE QUAH [SINGAPORE] The Republic’s wealthiest are enjoying better fortunes this year, in tandem with the local economy’s improving performance, according to data collected by Forbes Asia. The publication, which tracks the wealth of Singapore’s 40 richest people, said their total net
      FILE PHOTOS  -  816 words
    • 616 4  -  But prelim figures for June, upcoming projects paint brighter picture By EMILYN EMILYN YAP [SINGAPORE] The value of construction contracts awarded in the first five months of the year was less than hoped for, keeping the building industry on edge. Nevertheless,
      FILE PHOTO  -  616 words
    • 343 4 Reuters [LONDON] The British government has announced plans to scrap the fixed retirement age next year, saying it wanted to give people the chance to work longer although business leaders said the move would create serious problems. Currently, employers can force
      Reuters  -  343 words
    • 268 4 Bloomberg [SYDNEY] Australia is abandoning a six-decade consensus favouring immigration, risking slower growth and faster inflation in a nation short of workers to help meet China’s demand for its commodities. Prime Minister Julia Gillard is pushing reduced population gains to lure voters in suburban
      Bloomberg  -  268 words
    • 608 4 An MAS quartet to help tune banking liquidity THE Republic will have one more weapon to ensure financial stability. The Monetary Authority of Singapore is introducing MAS Bills for extra flexibility to deal with sudden inflows and outflows of capital. Issuing MAS Bills will also help banks with
      608 words
    • 456 6  -  Policy of modest and gradual appreciation of S$ appropriate for now Reports by ANNA TEO [SINGAPORE] Even as GDP growth eases in the second half of 2010, economic activity will be sustained at high levels through the year, says the
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    • 257 6 ONE year after posting its first ever loss, the Monetary Authority of Singapore (MAS) turned in a record net profit of $10.12 billion for its financial year that ended in March thanks to strong flows of interest and dividend income. Valuation gains following the recovery
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    • 501 6  -  By PAULINE NG IN an unexpected move, the Malaysian authorities have charged former transport minister Ling Liong Sik with cheating in connection with the scandal-hit Port Klang Free Zone (PKFZ). Ling was president of the Malaysian Chinese Association (MCA) for 18 years and was
      REUTERS  -  501 words
    • 676 6  -  COMMENTARY By KALPANA RASHIWALA THE Real Estate Developers’ Association of Singapore has made a bold move by launching its Real Estate Sentiment Index (RESI). The industry has taken a risk going public with the sentiment index, which it developed jointly
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    • 531 6 Bloomberg [NEW YORK] Sanofi-Avent-is SA chief executive officer Chris Viehbacher has support from his board of directors to offer as much as US$70 a share for Genzyme Corp, or about US$18.7 billion, said three people with knowledge of the situation. France’s largest drugmaker
      Bloomberg; AP FILE PHOTO  -  531 words
  • Page 4 Advertisements
    • 116 4 Q ISP Be a Qualified Information Security Professional The Association of Information Security Professionals (AISP) has introduced the Qualified Information Security Professional (QISP) training programme to raise professional proficiency and to distinguish information security practitioners in Singapore. QISP participants will gain broad information security knowledge and in-depth skills to handle,
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  • Page 5 Advertisements
    • 253 5 ve A new horizon is yours e? TZ&ar A premier residence in Singapore's famed East Coast, Silversea offers stunning sea views and a vast selection of indulgent facilities. These include two 50-metre lap and leisure pools, infinity-edged dip pools, elemental spas and a lagoon pool landscaped with tropical palms and
      253 words

  • Page 6 Advertisements
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  • Page 7 Advertisements
    • 63 7 PPL SHIPYARD Congratulates Vietsovpetro Joint Venture On the Delivery and Naming of TAM DAO 02 (P2027) PPL Pacific Class 375 Jack Up Rig By Lady Sponsor Ms Nguyen Thanh Ha 30th July 2010 j Proudly built by: PPL SHIPYARD PTE LTD 21 Pandan Road Singapore *****3 Tel: (65) 6265 0477
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  • COMPANY NEWS
    • 498 8  -  Revenue up 8.6% at $382.1 million as all businesses, divisions perform well By VEN SREENIVASAN SINGAPORE Airport Terminal Services lifted its first quarter net profit by 9.7 per cent to $44.3 million as all businesses and divisions delivered growth. The rise in earnings
      498 words
    • 236 8  -  By VEN SREENIVASAN PROPERTY group Stamford Land lifted its net earnings more than 10 times to $38 million, from $3.2 million a year earlier, for the first quarter ended June 30. This was despite flat topline revenue of $52 million. The big lift
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    • 698 8  -  HOCK LOCK SIEW By NISHA RAMCHANDANI AS the dust settles in the wake of Khazanah Nasional’s $3.5 billion general offer for Parkway Holdings, the question is, what does the future hold for Parkway now that Fortis Healthcare has decided to step out of the picture?
      698 words
    • 338 10  -  Merrill expects low inflation, low growth to continue in global economy By JOYCE HOOI MERRILL Lynch may be overweight on Singapore, but the region’s stocks as a whole are starting to look overvalued, Merrill’s Asia-Pacific chief investment officer Stephen Corry said yesterday. “Based on
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    • 421 10 Its design picked as basis for new type of wind turbine installation vessel A MULTI-PURPOSE self-ele-vating platform (MPSEP) designed by Keppel Fels has been chosen by the Seafox Group as the basis for a new-generation, wind turbine installation vessel that can withstand harsh
      421 words
    • 281 10  -  By LYNN KAN SINGAPORE Shipping Corporation (SSC) recorded a 66 per cent dive in net profit to $450,000 for the first quarter ended June 30 despite a surge in revenue. The group posted a 51.5 per cent rise in revenue to about $4.66
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    • 326 10 Reuters TARGET Asset Management, one of Singapore’s most successful boutique fund managers, will wind down its operations over the next four to five months as founder and chief investment officer Teng Ngiek Lian is retiring. Investors in Target Asset’s US$2 billion
      Reuters  -  326 words
    • 312 11  -  Turnover more than doubles as rubber volume and selling prices rise By NICHOLAS YEO SINGAPORE-LISTED rubber plantation group GMG Global announced a return to net profit of $9.5 million for the second quarter ended June from a net loss of $3.8 million a
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    • COMPANY BRIEFS
      • 66 11 MCL Land has reported a first-half 2010 net profit of US$162.9 million, up from US$38 million a year earlier. It recognised profits from the completion of Waterfall Gardens and benefited from the reversal of a US$51 million write-down made previously for The
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      • 75 11 LIPPO-MAPLETREE Indonesia Retail Trust has announced distributable income of $11.2 million for second quarter ended June 30, down 19.3 per cent from a year earlier. Distribution per unit was 1.04 cents, down 20 per cent. Gross revenue of $40.1 million was 91.7 per
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      • 66 11 DAIRY Farm International says it made good progress in first-half 2010, achieving further growth in sales and profit and building up its store network. Net profit was 17 per cent higher at US$182 million. Sales, including associates’, increased 13 per cent
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      • 80 11 GLOBAL Palm Resources Holdings has warned that revenue and pre-tax net profit for the second quarter ended June 30 will be substantially lower than in Q1 ended March 31. It said it has been hit by lower crude palm oil
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      • 60 11 YONG Xin International Holdings has said it expects to report a net loss for first-half 2010, mainly due to loss on trading coke and coking products as a result of the termination of a coke-processing agreement. The group was
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      • 73 11 EQUATION Corp says a Singapore businessman has agreed to subscribe for 45 million new shares at 4.5 cents each. Equation said the purchase by Neo Ka Chiam, a Singapore citizen engaged in property investment, represents 2.18 per cent of its enlarged issued share
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    • 209 11 DBS BANK announced yesterday the appointment of Lim Say Boon, 53, as chief investment officer for its wealth management business. Mr Lim will spearhead the development of a global asset allocation strategy for DBS’s wealth management clients, especially the bank’s private banking and treasures
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    • 390 11  -  By ANGELA TAN PT SMART Tbk (SMART), a subsidiary of Singapore-list-ed Golden Agri-Resources, yesterday reiterated that it is not responsible for clearing primary forests and orang-utan habitats in West Kalimantan, Indonesia, and that it only operates on degraded land based
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    • 246 11 Bloomberg [HONG KONG] Hongkong Land Holdings Ltd, one of the biggest business-dis-trict landlords in Hong Kong, said underlying profit rose 70 per cent in the first half as two residential projects in Singapore were completed. Profit excluding revaluation losses or gains climbed to US$477 million,
      Bloomberg  -  246 words
  • Page 8 Advertisements
    • 1381 8 MATS NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg ENZER CORPORATION LIMITED (Company Registration Number *****6945E) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an extraordinary general meeting of ENZER CORPORATION LIMITED (the “Company”) will be held at 20 Maxwell Road, #05-09 Maxwell House,
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  • Page 9 Advertisements
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  • Page 10 Advertisements
    • 2550 10 CONTEL CORPORATION LIMITED (Incorporated in Bermuda) (Company Registration No. *****) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of CONTEL CORPORATION LIMITED (the "Company") will be held at Auditorium of Katong Hostel, 369 Tanjong Katong Road, Singapore *****6 on Saturday, 14 August 2010 at
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  • Page 11 Advertisements
    • 193 11 RIDING THE REGIONAL RECOVERY 20August2010(Friday) Marina Bay Sands Expo and Convention Center Level 5, Sands Grand Ballroom A conference that will provide the setting for discussions and rare insights into the state of the global economy and prospects for investment in Asia the region set for spectacular growth CONFERENCE HIGHLIGHTS:
      193 words
    • 331 11 Save Lives: Be Prepared Ever encountered a medical emergency and left at your wits end? In your entire lifetime, you would encounter at least one medical emergency involving strangers whom you crossed paths with or even a loved one. As such, it is a good idea to equip yourself with
      331 words

  • SINGAPORE MARKETS
    • 642 12  -  Index only a whisker away from crucial 3,000 level after its third consecutive rise this week STOCKS VEN SREENIVASAN Senior Correspondent SINGAPORE stocks remained resilient despite negative overnight news flows from Wall Street and renewed concerns over the health of the global economy. This
      Source: Bloomberg  -  642 words
    • 4 12 DAILY
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    • 66 12 Jul 29 VALUE CLOSE BT OB/OS 280.00 +134.0 BT CADI -*****.00 +59.00 BT 10-day MA -*****.00 +28.00 FTSE ST Mid Cap 735.92 +3.48 FTSE ST Small Cap 548.62 +2.82 FTSE ST All Share 740.09 +3.14 FTSE ST China Top 274.36 +2.06 FTSE ST China 301.74 +0.32 FTSE
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    • 57 12 VOLUME Genting SP 120,185,000 Kreuz 76,972,000 China Hongxing 51,257,000 BerlianLaju 42,219,000 NOL 40,917,000 Informatics 40,111,000 Noble Grp 37,658,000 Cosco Corp 33,102,000 *Genting HK US$ 30,178,000 Golden Agri 25,398,000 VALUE($) Genting SP 153,551,925 NOL 84,267,060 CapitaLand 67,925,770 Wilmar 65,921,070 Noble Grp 64,788,150 DBS Grp 62,610,073 Cosco Corp 54,358,770
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    • 186 12 MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 7 4 0 0 0 6 7 4 Manufacturing 68 43 82 8 0 14 76 43 96 Commerce 21 17 26 5 4 4 26 21 30 Tpt/Stor/Comms 18 9 13
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    • BROKERS’ TAKE
      • 212 12 July 29 close: $0.865 DBS Vickers Securities, July 29 MAPLETREE Logistics Trust (MLT) announced the acquisition of three Japanese properties for a total consideration of $200 million. Completion of this deal will increase revenue contribution from Japan to 23.7 per cent (from 17.8 per cent currently). The
        Source: Bloomberg  -  212 words
      • Article, Illustration
        279 12 July 29 close: $1.14 CIMB-GK Securities, July 29 Q1 2011 net profit rose 3.2 per cent year-on-year (y-o-y) to $40.7 million, just one per cent below our expectation and consensus. SingPost announced a quarterly dividend of 1.25 cents per share, in line with our forecast. No change to
        Source: Bloomberg  -  279 words
      • 275 12  -  July 29 close: $9.26 DMG Partners Securities, July 29 Compiled by JAMIE LEE KEPPEL Corp announced that Kep- pel Fels had entered into a 75:25 joint venture (JV) with Seafox to build and own a US$220 million wind turbine installation vessel. The vessel will be delivered in H2
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    • 118 12 TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 32,225 32,225 89,826 89,826 Manufacturing 289,537 13,075 302,612 264,833 1,639 266,471 Commerce 90,161 7,794 97,955 126,118 2,714 128,831 Tpt/Stor/Comms 187,647 340 187,987 292,830 40 292,870 Finance 18,337 3 18,340 182,411 182,411 Construction 35,198 17,647 52,845
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    • 111 12 Stock name Close Change CapMallsAsia 2.100 +0.050 CapitaLand 3.900 +0.040 CapitaMall 1.950 -0.020 CityDev 12.040 +0.080 ComfortDelGro 1.610 +0.020 DBS Grp 14.500 -0.020 F&N 5.590 -0.060 Genting SP 1.270 +0.010 Golden Agri 0.570 +0.005 HK Land 5.360 -0.020 JMH 39.980 -0.020 JSH 23.800 +0.600 Jardine C&C
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    • 474 12 CURRENCIES Reuters [NEW YORK] The euro hit a 12-week high against a broadly weaker dollar yesterday as month-end demand helped to push the single currency above a key technical barrier. A jump in euro zone economic sentiment to a 28-month high and a
      Reuters; REUTERS  -  474 words
    • 112 12 BY CENTS CLOSE UP DBXT AUDMM 5SG$ ***** 430.0 1.9 DBXT S&P500 10US$ 1744 182.8 8.3 Jardine C&C 3674 164.0 4.7 JSH 2380 81.9 2.6 DBXT SPASX200 10US$ 2896 72.3 1.9 SIA.ES.1007 1546 68.0 4.6 DBXT S&P Short 10US$ 5242 57.3 0.8 GLD 10US$ ***** 49.1 0.3 Lyxor EmergingMkts
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    • 125 12 BY CENTS CLOSE DOWN Lyxor China H 10US$ 1527 -34.1 -1.6 OCC 3.93% NCPS10 9000 -30.0 -0.3 DBXT MSINDIA 10US$ 969 -19.1 -1.4 OCBC Bk 5.1%NCPS 100 ***** -14.0 -0.1 DBXT MSTHAI 10US$ 1232 -9.6 -0.6 HL Asia 347 -7.0 -2.0 F&N 559 -6.0 -1.1 Venture Corp 916 -6.0
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    • 87 12 Where S$ stands Jul 29 CHNG YR 2010 CLOSE FR Jul 28 S$ LOW S$ HIGH US$ 1.3616 0.19 1.4219 1.3616@ Euro 1.7808 -0.30 2.0153 1.6886 Pounds 2.1305 -0.16 2.2831 2.0003 A$ 1.2297 -0.66 1.2960 1.1515 Yen* 1.5638 -0.89 1.5951 1.4467 Rupiah* 0.***** -0.14 0.***** 0.***** Baht* 4.2220 0.07
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  • Page 13 Advertisements
    • 1601 13 ADVERTISING FEATURE An all-round educational experience Nanyang Technological University puts graduates on the fast route to success NTU success stories: (from left) Kevin Koo, Shivali Nayak, Sven Yeo, Eileen Goh, Tan Gui De and Teh Yong Liang AUNIVERSITYismore than a place to earn a degree. It is a place for
      1,601 words

  • SINGAPORE NEWS
    • 336 14  -  364 applications for NEA’s S’pore Certified Energy Manager training grant approved By JOYCE JOYCE HOOI THE government’s efforts to bridge the gaps between energy efficiency and corporations are gathering momentum. Amy Khor, Senior Parliamen- tary Secretary for the Ministry of the Environment and Water
      336 words
    • 272 14 SINGAPOREANS studying medicine overseas can now get grants of up to $40,000 to cover their tuition fees from Singapore public healthcare clusters. The public healthcare cluster organisations yesterday announced the availability of the pre-employment grant (PEG) for Singaporeans in their final two years of
      272 words
    • 353 14  -  This year’s launches now top offers for whole of last year By EMILYN YAP THE Housing Development Board (HDB) is launching two new Build-To-Order (BTO) projects with 1,016 units at Bukit Panjang and Jurong West. This brings the number of new flats
      353 words
    • 430 14  -  It also finds most are not prepared for a volatile economy By FELDA CHAY CREATIVITY within the leadership ranks is now the key focus of companies worldwide as they struggle with the challenges of a more volatile economic environment a key
      430 words
    • 200 14 NOT only did marine civil engineering company HSL Constructor donate $100,000 to Mercy Relief yesterday, it also signed an agreement to assist it in disaster-prone communities. In conjunction with the launch of HSL’s new corporate logo, the company announced that it has
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    • 416 14  -  By AMIT AMIT ROY CHOUDHURY YCH Group and Resorts World Sentosa (RWS) are the top two winners of the IDC-Enterprise Innovation Awards 2010. They are among nine Singa-pore-based organisations that won awards, given out yesterday during the Singapore leg of IDC’s Asia
      416 words
  • Page 14 Advertisements
    • 832 14 3 NOTICES IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF MACNAUGHT ASIA PTE LTD (In Members' Voluntary Liquidation) Reg No. *****6216G NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap. 50, the Final Meeting of
      832 words

  • ECONOMY WATCH
    • 509 15 Growth held steady or was modest elsewhere in survey of 12 regions AP [WASHINGTON] The pace of economic activity has slowed or held steady in parts of the US, revealing a choppy path back to health. A new survey released by the Federal
      AP  -  509 words
    • 379 15 Reuters [CAMBRIDGE, US] The United States will suffer high unemployment for some time as it slowly recovers from the deep recession that ended in 2009, a former second in command at the Federal Reserve said on Wednesday. “I see a very slow, uneven
      Reuters  -  379 words
    • 600 15 Reuters [WASHINGTON] The US Senate Banking Committee on Wednesday approved the nomination of three new members to the Federal Reserve board, including Janet Yellen for vice-chairman, clearing the way for a final vote by the whole Senate. If the nominees, including Maryland regulator
      Reuters; BLOOMBERG  -  600 words
  • Page 15 Advertisements

  • MALAYSIA/INDONESIA
    • 492 16 Sales jump 76% in H1; Nissan steps up investments to double capacity AFP [JAKARTA] Indonesia has hit the fast lane in terms of car sales and has overtaken South-east Asian pace-set-ter Thailand for the first time, according to a Nikkei survey from the first
      AFP  -  492 words
    • 277 16 Reuters [JAKARTA] Indonesia’s central bank said yesterday that it will set the loan-to-deposit ratio (LDR) for banks at 75-102 per cent, linking it to the banks’ reserve ratios to boost lending and drive economic growth. Bank Indonesia previously said that those banks which
      Reuters  -  277 words
    • 326 16 It’s still among top 15 host nations for investment Bernama [KUALA LUMPUR] Concern over Malaysia losing out on foreign direct investment (FDI) is misplaced as the country remains the top 15 host nation for investment in 2010-2012, said International Trade and
      Bernama  -  326 words
  • Page 16 Advertisements
    • 1661 16 MATS BUY IT SELL IT FIND 11 NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg SEEHUPSENGLIMITED (Compan RegistrationNo *****2208Z) (Incorporated theRepublic Singapore) NOTICEOFEXTRAORDINAR GENERALMEETING NOTICEISHEREBYGIVENthatanExtraordinar Gener Meeting SeeHupSengLimited(the “Compan willbeheld 81 uasSouthStreet Singapore*****1on17 ugust2010 10.00a.m. ffro r or thepurpose consideringand, thought passing,with withoutmodifications the ollowing resolutionsasordinar resolutions:ORDINAR RESOLUTIONS Resolution Theproposedacquisition theCompan oftheremaining49%interest
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  • GREATER CHINA
    • 536 17 Reversing a loss in 2008, net income almost doubles to US$41.7 billion Bloomberg [BEIJING] China’s sovereign wealth fund posted an 11.7 per cent return on its overseas portfolio in 2009, reversing a loss a year earlier, according to the official China Central Television.
      Bloomberg; BLOOMBERG  -  536 words
    • 405 17 Reuters [BEIJING] The IMF has softened its criticism of China’s currency regime in recognition of Beijing’s efforts to free up its exchange rate but the move showed a split among the Fund’s member countries. A summary of an annual review of China’s
      Reuters  -  405 words
    • 248 17 AFP [BEIJING] The World Trade Organization (WTO) has ruled in China’s favour in a dispute with the United States over imports of Chinese chicken, state media reported yesterday. China’s Commerce Ministry has received the final ruling from the WTO, which is
      AFP  -  248 words
  • Page 17 Advertisements
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  • INDIA
    • 545 18 Chiefs of Stanchart, Tata will be among 6 business leaders to make up group Bloomberg AP [NEW DELHI] Britain’s Prime Minister David Cameron and Indian Prime Minister Manmohan Singh announced the creation of a group of six business leaders who will
      Bloomberg; AP  -  545 words
    • 227 18 Reuters [NEW DELHI] India’s food inflation eased and fuel inflation notched up in mid-July. Data released yesterday showed the food price index rose an annual 9.67 per cent in the week to July 17, compared with the previous week’s increase of
      Reuters  -  227 words
    • 492 18 AP [MUMBAI] An Indian company that makes tiny loans to villagers aims to raise up to US$354 million in an initial public offering, a move critics fear will encourage India’s largest microfinance lender to put shareholders above the poor it serves. SKS Microfinance’s
      AP  -  492 words
  • Page 18 Advertisements
    • 344 18 WINE DINE AND HOSPITALITY SBk -v.II sd <WX* l >/ triple three 45 45 45 This August, celebrate Singapore's 45 th birthday at Triple Three and receive a special 45%* off your total bill if you are turning 45 this year! Terms Conditions apply. Otherwise, why not swing by Top
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  • ASIA-PACIFIC
    • 732 19  -  It cites low cost of capital, prospects for capital gains in property investment By ANTHONY ROWLEY A “PROPERTY bubble is beginning to inflate in some of China’s larger cities” and while Chinese authorities are treating the symptoms of what could become
      REUTERS  -  732 words
    • 194 19 Bloomberg [BANGKOK] South Korean developer Intercity Group plans to start construction in October on a US$400 million casino resort complex near Cambodia’s Angkor Wat temples that aims to draw high rollers from Macau and Singapore. Harrah’s Entertainment, the world’s biggest casino
      Bloomberg  -  194 words
    • 707 19  - La Liga out to topple EPL in Asian hearts minds By MALMINDERJIT SINGH [SINGAPORE] Spain’s professional football league La Liga aims to wrest the dominance of the English Premier League (EPL) in the lucrative Asian football market. La Liga chief executive Francisco Roca Perez has announced plans to organise a
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  • Page 19 Advertisements
    • 178 19 THE WORLD'S FIRST EXCLUSIVE BMW M DEALERSHIP OPENS IN SINGAPORE. In 1972, BMW set out on a journey to capture the passion of motorsports with just one letter-M. Through the years, that letter broke records, created new ones and then broke them again. Today, BMW M is much more than
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  • Page 20 Advertisements
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  • WORLD
    • 476 21 AFP [MADRID] Catalonia’s move to ban bullfighting on Wednesday will have financial costs for the region as well as for the sector, which was already struggling due to Spain’s economic downturn, the industry and supporters said. “The ban will be economically disastrous for
      AFP; REUTERS  -  476 words
    • 600 21 AFP [WASHINGTON] US President Barack Obama visits Detroit today to tout the motor industry’s rebirth as proof that his economic policies are working, but experts warn the sector’s survival is not yet assured. Mr Obama with an eye on low approval ratings
      AFP  -  600 words
    • 511 21 Sale will raise US$29 billion over 3 years, helping plug gaping budget deficit NYT [MOSCOW] The Russian government, which just a few years ago was salting away billions of dollars in oil revenue, is now confronting such a gaping budget deficit that
      NYT  -  511 words
  • Page 21 Advertisements
    • 182 21 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
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  • EDITORIAL & OPINION
    • 510 22 EDITORIAL EARLIER this month, the International Energy Agency (IEA) reported that China has now overtaken the United States in total energy consumption a position that the US had held for more than a century. China’s new status has enormous implications for global
      510 words
    • 751 22  -  THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group JUDGING from corporate profits, the US should be enjoying a powerful economic recovery. The drop in profits in the recession was about a third, apparently the worst since World War II. But every day
      The Washington Post Writers Group  -  751 words
    • 953 22  -  The US-led war in Afghanistan is Pakistan’s war as much as it is a battle for civilisation By HUSAIN HAQQANI The writer is Pakistan’s ambassador to the United States THE much-publicised leaking of several thousand classified documents relating to the war in Afghanistan may have
      AFP  -  953 words
    • 1277 23  -  Lack of public support, political capital, and realities of American life make chances of getting Congress approval very slim LEON HADAR Washington Correspondent AS BLIZZARD-BOUND people were trying to dig themselves out of a snow storm that covered the entire mid-Atlantic
      AFP  -  1,277 words
    • 817 23  -  By ANAND SRINIVASAN The writer is associate professor, Finance and Banking, at the NUS Business School. He specialises in banking, bankruptcy and executive stock options. Viral Acharya, London Business School, and Streedhar Bharath, University of Michigan, collaborated in this research. It was published
      817 words
    • 377 23  -  LETTER TO THE EDITOR Denis Distant SINGAPORE Airlines’ policy of providing shareholders a copy of its annual report in CD format with an option to request a printed copy is in line with the practice of many other companies; except that SIA sends
      377 words


  • AVIATION/SHIPPING
    • 445 24 It cuts profit forecast for defence unit on slower US military spending Bloomberg [CHICAGO] Boeing said sec-ond-quarter earnings declined 21 per cent on fewer plane deliveries, and reduced its projection for profitability at its defence unit on slower US military spending. Net income fell to
      Bloomberg; AFP  -  445 words
    • 357 24 AP [WASHINGTON] The US Congress is getting ready to pass tough new aviation safety measures that were developed in response to a deadly commuter plane crash in western New York in early 2009, a key lawmaker said on Wednesday. Democratic Representative James Oberstar,
      AP  -  357 words
    • 377 24 They join a federal scheme qualifying them to screen their own goods Bloomberg [WASHINGTON] Pfizer the world’s largest drugmaker, did not want to take any chances when rules requiring screening of all US air cargo take effect next week. Neither did Racine Berkow
      Bloomberg  -  377 words
    • 253 24 Reuters [TOKYO] A Japanese supertanker collided with something, possibly a submarine or mine, UAE port officials inspecting the ship said yesterday. The damage triggered fears of an attack in the sensitive Strait of Hormuz oil shipping route. Damage to the massive crude carrier’s
      Reuters  -  253 words
    • 471 24  -  August recruitment drive for engineers, first officers may draw SIA employees By VEN SREENIVASAN [SINGAPORE] Dubai-based airline Emirates will kick off a recruitment drive for first officers and engineers in Singapore next month. Emirates, which recently placed an order for a further 32
      471 words
    • 3053 24 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ457 1230 SQ456 1250 EY470 2220 Adelaide LH9771 1745 9W4082 2230 SQ278 1745 AF8088 2230 VS7268 1745 BA7382 2230 JL5083 2230 --MU8214 2230 QF82 2230 LH9770 2350 SQ279 2350 VS7279 2350 Amsterdam SQ323 0605 SQ7366 2315 US5410 0605 LO4032
      3,053 words

  • SINGAPORE STOCKS
    • 8983 25 Transaction date: Jul 29 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 20 10.5 3148 8Telecom 18 unch 50 18 18 18 18.5 1.7 10.1 5.8 86.2 10 6 5834
      8,983 words
    • 1899 26 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 10 5 1181 t AA Grp 5 4.5 6 27.8 4.8 225 130 6222 t APStrategic 199 +7 29 199 190 170
      1,899 words
    • 9418 26 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.17/ APS Alpha Fund (USD)!** 0.86/ AXA Life Secure Ascent 2020 Fund 0.9546/0.9546 AXA Wealth Mgt S'pore Pte Ltd AXA WM -Talents Fund 0.67/ Aberdeen Asset Mgt Asia Limited American Opp 0.605/ Asian Credit Fund
      9,418 words
    • 769 26 52-Wk Tel Last Vol Day Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124 107 6389 ABF SG Bond ETF 114 113.2 115 520.4 903 710 CIMBAsean40 100US$ US901 +3 20 901 901 901 906 36 306
      769 words
    • 74 26 52-Wk Tel Last Vol Day Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 30 6000 AVJennings A43 41 48 3.6 8.1 3.4 112 31 16 6017 Genting HK US$ US24.5 +2 ***** 24.5 22.5 24.5 25
      74 words


  • FINANCE & COMMODITIES
    • 374 27 In local curr In S$ In US$ dy yr dy yr dy yr Jul 28 Index Change Change Change Change Change Change World Index Preliminary 814.5 -0.1 -2.2 0.3 -5.9 0.0 -3.2 EAFE Preliminary 755.4 0.3 -3.8 0.8 -8.8 0.5 -6.2 Europe Preliminary 1097.9 -0.5
      374 words
    • 180 27 Jul 29 $S Offer Bid Overnight 3/16 1/8 1-month 3/8 1/8 2-months 7/16 3/16 3-months 9/16 5/16 Overnight mode: 0.20 US$ Offer Bid 7 days 0.40 0.30 1 month 0.60 0.40 2 months 0.65 0.45 3 months 0.70 0.50 6 months 0.90 0.70 9 months 1.10 0.90 12
      180 words
    • 22 27 Jul 29 S$ Bid Offer 1-month 1.3644 1.3652 2-months 1.3642 1.3655 3-months 1.3641 1.3654 6-months 1.3635 1.3648 Source: OCBC
      22 words
    • 132 27 Jul 29 As at 9am Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.2100 1.2470 Can dollar 1.3090 1.3240 Euro 1.7660 1.7870 NZ dollar 0.9790 1.0000 Sterling pound 2.1210 2.1460 US dollar 1.3600 1.3750 Local dollars to 100 units of foreign
      132 words
    • 27 27 Jul 29 Open High Sett STI Jul 2998 SIMSCI Jul 353.1 355.5 354.7 Taiwan Jul 277.4 277.9 277.2 Source: MF Global (S) Pte. Ltd
      27 words
    • 66 27 Jul 29 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 10 2571 2585 2600 2571 527 4762 Sep 10 2540 2542 2560 2538 2189 ***** Oct 10 2509 2514 2529 2506 8017 ***** Nov 10 2498 2506
      66 words
    • 424 27 Jul 29 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Sep10 99.5900 0 1602 Dec10 99.5450 0 1435 Mar11 99.4600 0 2247 Jun11 99.3250 0 2031 EUROYEN TIBOR FUTURES Sep10 99.6500 99.6500 99.6500 99.6500 107 3354 Dec10 99.6800 99.6800 99.6800 99.6825 0 1522 Mar11 99.6925 99.6925 99.6925
      424 words
    • 147 27 Jul 29 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Aug 10 324.0 Sep 10 319.4 318.0 319.0 70 Oct 10 308.0 308.0 308.0 20 Nov 10 306.0 Dec 10 307.0 307.0 307.0 4 Jan 11 305.0 305.0 305.0
      147 words
    • 90 27 Jul 29 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****H 28.10.2010 0.28 0.22 0.22 1-Year BY*****W 03.05.2011 0.33 0.31 0.31 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****1E 2.500 01.10.2012 104.51 104.56 104.54 5-Year N*****0N 1.375
      90 words
    • 105 27 Jul 28 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Aug 10 1010.50 998.00 1015.00 997.75 Sep 10 985.00 973.00 972.50 972.50 Nov 10 978.00 965.50 965.00 965.00 Jan 11 986.75 974.50 973.75 973.75 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Aug 10 38.84 38.56 38.96
      105 words
    • 77 27 CRUDE OIL PRODUCTS Jul 28 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 75.70 -0.24 WTI (Near Mth) 76.83 -0.74 Dubai (1-Mth F) 74.34 -0.79 Tapis blend 80.50 -1.00 Minas 77.25 -1.00 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 69.77 -0.39 Jet Kerosene 85.92 -1.98 US$/barrel Opec Oil
      77 words
    • 2521 27 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left 6221 Asia-Pacific Strategic W*****6 40 1 150 -5 4.97 46 6227 ASJ Hldgs W*****1 4 1 4 14 1.75 19 2036 Advance SCT Ltd W*****9 0.5 1 87 2817
      2,521 words
    • 465 27 Jul 29 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.930 6.099 0.691 6.991 42.012 81.054 0.786 10.678 2.874 1.241 77.094 41.150 1.229 6.593 0.949 28.784 29.040 0.576 0.900 Canada 1.075 6.555
      465 words
    • 85 27 Jul 29 (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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
      85 words
    • 138 27 Jul 29 GOLD (US$/oz) Jul 28 Jul 29 Hong Kong 1164.90 1166.30 Jul 27 Jul 28 London 1162.85 1161.25 1163.85 1162.00 Source: Thomson Reuters CAST BAR Jul 29 (S$) Selling Buying Kilobar 55,217.35 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 124.12 52 5gm 350.96 258 10gm 627.02
      138 words
    • 69 27 Jul 28 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2048.50 2035.25 3 months 2068.00 2056.00 Copper, Grade A (US$/tonne) Cash 7146.25 7034.25 3 months 7170.00 7059.00 Lead (US$/tonne) Cash 1994.50 1954.00 3 months 2017.50 1977.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
      69 words
    • 154 27 Jul 29 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2278 1.2295 0.8998 0.9003 Canadian dollar 1.3196 1.3214 0.9671 0.9676 Euro 1.7774 1.7794 1.3026 1.3029 NZ dollar 0.9893 0.9907 0.7250 0.7254 Sterling pound 2.1305 2.1328 1.5614 1.5617
      154 words
    • 82 27 Jul 28 COCOA (£/tonne) Close Prev High/Low Sep 10 2271 2280 2298/2261 Dec 10 2172 2170 2188/2167 Mar 11 2148 2143 2161/2142 May 11 2153 2148 2166/2147 COFFEE (US$/tonne) Close Pev High/Low Jul 10 1714 1691 1703/1702 Sep 10 1721 1699 1728/1695 Nov 10 1740 1715 1744/1711 Jan 11
      82 words

  • 5256 28 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.
    5,256 words
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  • Page 29 Advertisements
    • 52 29 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES SHIPPING TIMES I' n —H Can they FREIGHT I find .y our m services FORWARDER here in the urgently needed by shippers I Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT
      52 words

  • executive lifestyle
    • 1891 30  -  ‘Fun sports’ from dance to indoor games to martial arts are the latest forms of exercise in town that offer fitness buffs an alternative to hitting the gym, reports MELISSA LWEE MELISSA LWEE ELAINE Te’s life is almost like a scene out of a superhero
      1,891 words
    • CINEMA/MUSIC
      • 526 31  -  Strong performances and realistic script make Precious a must-see, says DYLAN TAN DYLAN TAN IT’S understandable that Precious has arrived at local multiplexes about six months after its North American release. It’s an an-ti-feel-good movie and definitely not one that is likely to
        BLOOMBERG  -  526 words
      • 529 31  -  By DYLAN TAN DRAWING inspiration from French New Wave cinema, American-born Chinese director Arvin Chen’s feature-length debut, Au Revoir Taipei, is an entertaining and playful take on an arthouse genre that’s cunningly reworked into a breezy romantic comedy. The movie has already found a
        529 words
      • 654 31  -  CD REVIEW By CHRISTOPHER LIM RECORD labels are often exemplified by key artists. Stevie Wonder embodied Motown, for example. Fusion jazz guitarist Allan Holdsworth is a key face of Moonjune Records, which is run by Holdsworth’s manager, Leonardo Pavkovic. Holdsworth is famous for a style that fuses saxophone
        654 words
      • 686 31  -  By GEOFFREY EU A DEVASTATING earthquake in northeastern China exactly 34 years ago serves as the historic backdrop for Aftershock, a film that effectively dramatises an event of cataclysmic proportions by following the fictional story of a family torn apart in the
        686 words
    • FESTIVALS AROUND THE WORLD
      • 735 32  -  For eight nights every July, jazz fans can watch their favourite musicians perform in this lovely city. By ONG SUAN EE The writer is a recent graduate of the University of Melbourne THERE is a little city on the French Riviera with clear periwinkle skies
        AFP; AFP PHOTOS  -  735 words
    • PURSUITS
      • 752 33  -  Celebrity chef Emmanuel Stroobant is one of the owners of a new hot yoga studio in East Coast all for the sake of healthier eating habits, reports NATALIE KOH LIFESTYLE NATALIE KOH WHAT do food and yoga have in common? Hardly anything,
        752 words
      • 476 33  -  GAMING By CHRISTOPHER LIM WHEN you make sci-ence-fiction gaming fans wait a dozen years for a sequel, pent-up frustration usually results in an extreme reception, which explains the tears and cheers that 10,000 local fans greeted StarCraft II: Wings of Liberty with
        476 words
      • 1091 33  -  WINE By N K YONG AT the risk of being tiresome, I want to return to the subject of Chablis, the white burgundy which quite likely does not even exist in the vocabulary of many a wine lover here and possibly in the rest of
        BLOOMBERG FILE PHOTO  -  1,091 words
    • ARTS
      • 849 34  -  Two art exhibitions build their themes around Minister Mentor Lee Kuan Yew, in a month that calls for reflection on identity and nationhood. A third exhibition showcases the masters of Singapore’s fine art tradition By CHEAH UI-HOON WITH National Day around the corner,
        849 words
      • 565 34  -  By NATALIE KOH MOST art lovers are familiar with Singapore’s contemporary art but are unaware that a group of pioneer artists had paved the way for today’s contemporary artists. And too many artists in this group, according to Aniele Rahardj, director of art gallery Sbin Art
        565 words
      • 622 34  -  By NATALIE KOH WHEN American artist Trenton Doyle Hancock stepped off his plane at Changi Airport, he didn’t just see Singapore as a clean and green country, he saw Singapore as a clean, white sheet of paper, a whole new world for him to
        622 words
      • 648 35  -  But her performance was pitch-perfect while the depth of her lyrics and the soul and R&B style of her music sat very well with the audience, reports NATALIE KOH NATALIE KOH FOLLOWING an almost two-year hiatus and the death of her husband, Corinne
        JONATHAN KWA  -  648 words
      • AROUND TOWN
        • 155 35 ESPLANADE presents Nirmanika (right), a dance inspired by architecture. The title itself is a Sanskrit word that means “architectonic”, which pertains to the principles of architecture. Using human bodies to illustrate architecture might sound impossible, but not with bharathanatyam, a classical Indian dance form. Because the dance style
          155 words
        • 164 35 APART from its natural attractions such as Lake Toba, Sumatra used to be known as the “Island of Gold” during ancient times. Sumatra used to be an early point of arrival for trade, new religions and ideas in the region and the presence of gold and
          164 words
        • 163 35  -  Compiled by NATALIE KOH A VETERAN in the advertising/graphic industry, Dick Lim (or Chye) set up an art studio at Wessex Estate in 2007 to return to his first love fine arts. His latest exhibition, Checkered Background, portrays works painted with the palette knife in impasto
          163 words
      • 580 35  -  By LYNN KAN EAST didn’t quite meet West in Singapore Lyric Opera’s (SLO) latest billing, Wolfgang Amadeus Mozart’s Die Zauberflöte, or The Magic Flute as it’s known to anglophones. Mozart’s famous singspiel (an opera with dialogue) is well-beloved for its technical difficulty its Queen of
        580 words
  • Page 30 Advertisements
    • 176 30 11 th Singapore Gifts Premiums Fair Singapore International Trade Exhibition for Promotional, Corporate, Incentive and Retail Gifts www.SGPFair.com t* 1 iwnoHERrLi n k 10 th Stationery&Officelink Singapore International Trade Exhibition for Office Products and Stationery www.SOLFair.com 28-30 July 2010 J (Wed Fri) 10.30am 6.30pm Suntec Singapore, Hall 601 Quality showing
      176 words
    • 8 30 WINE Appreciating the beauty of Chablis PAGE 33
      8 words


  • Page 32 Advertisements
    • 149 32 I Best Available Rates I Featured Promotions I Partnership Programmes I Exclusive Member Deals H y j 6 X 6 8 k y tiUr SHS THE ASCOTT LIMITED A Member of CapitaLand Find our best available rates anywhere in the world at www.the7asc0tt.com Over 20,000 Ascott serviced residence units worldwide
      149 words
    • 12 32 Brought to you by Ascott This series is brought to you by
      12 words

  • Page 33 Advertisements
    • 12 33 ‘StarCraft II’ is available now for Windows PCs and Macs for $109
      12 words
    • 96 33 /JJ ASSETS OF WEALTH PASSION FINE WINE INVESTMENT WAS THE BEST INVESTMENT OF THE DECADE (2000-2009) The Guardian, 21 Nov 2009 Proven asset for portfolio diversification. Economic case for investing in Bordeaux Fine Wine is compelling the case of rising prices is a powerful one. High demand Negligible correlation Low
      96 words


  • Page 35 Advertisements
  • Page 35 Miscellaneous
    • 342 35 CRYPTIC CROSSWORD Across 1 Fancy a ringer took the lead (7) 5 Tremulous gleam covers him, mercifully only partly (7) 9 Little scenery and it’s fairly unattractive (3,4,2,4,2) 10 Steers round ten on inside bend (4) 11 Cooked bream’s colour (5) 12 Wonderful not having short visit by wise men
      342 words