The Business Times, 26 August 2010
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2010-08-26
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The Business Times
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Title Section22 2010-08-26 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Thursday, August 26,201022 words
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Article, Illustration897 2010-08-26 1 LYNETTE KHOO - Uncertainties loom and stocks may trend sideways or down in months to come By LYNETTE KHOO [SINGAPORE] Even earnings surprises in an exceptionally strong reporting season for the second quarter failed to excite the market bulls as investors concern themselves with other worriesSource: Bloomberg - 897 words
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681 2010-08-26 1 MICHELLE QUAH - Raided by CAD, the group’s MD claims some buyers don’t understand concept By MICHELLE QUAH [SINGAPORE] “Completely misguided” is how the directors of strategic land investment firm Profitable Plots have described the complaints made against the company complaints that have prompted the681 words
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Article141 2010-08-26 1 ST INDEX 2,926.55 (+3.70) ST INDEX FUTURES 2,926 (+7) SIMSCI 344.40 (+1.01) SIMSCI FUTURES 344.40 (+2.40) FOREX US$ S$ US$ (S$ per US$) 1.357 (US$/S$ per 1.546 2.097 EURO (US$/S$/E) 1.272 1.726 Foreign currency per US$ S$ YEN 84.60 62.30 RM 3.142 2.316 HK$ 7.776 5.732 BAHT 31.50141 words
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Page 1 Advertisements
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Advertisement126 2010-08-26 1 ANALYSIS Apple case throws spotlight on corruption PAGE 24 BizIT Fujitsu to launch cloud offering in Singapore PAGE 29 YOG Medals do matter PAGE 11 PROPERTY Credo appoints veteran property consultant PAGE TheBusinessofTime A $500,000 steel watch! Find out more in BT's 48-page 2010 Watch Supplement tomorrow 17 mmm FOUNDED126 words
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TOP STORIES
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467 2010-08-26 2 JAMIE LEE - Performance mainly dragged down by losses of global equities-linked funds By JAMIE LEE [SINGAPORE] Funds registered under the Central Provident Fund investment scheme (CPFIS) suffered an overall loss in the second quarter of this year, reversing from slight gains in Q1, as467 words
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Article493 2010-08-26 2 Bloomberg [SHANGHAI] More suitors have emerged to woo Canada’s Potash Corp a week after it rejected a US$40 billion hostile bid from BHP Billiton. Media reports since BHP’s bid named China’s Sinochem Group, China National Offshore Oil Corp, British-Australian Rio Tinto group and Brazil’s Vale SABloomberg - 493 words
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Article584 2010-08-26 2 Moody market thinks party’s over for now EVEN earnings surprises in an exceptionally strong reporting season for the second quarter in Singapore failed to excite the market bulls as investors concern themselves with other worries slower earnings growth in the second half and global uncertainties. The cautious mood,584 words
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Article, Illustration783 2010-08-26 4 ANTHONY ROWLEY - PM meets ministers, business leaders to devise strategy as stock slide continues By ANTHONY ROWLEY CURRENCY market intervention by Japanese authorities to stem the runaway rise of the yen is seen as inevitable in coming days as the sense of crisisREUTERS - 783 words
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Article, Illustration664 2010-08-26 4 CONRAD TAN - It plans to use S’pore as base for regional private banking push By CONRAD TAN [SINGAPORE] Maybank’s Singapore business raked in its highest ever profit in its latest financial year to end-June, contributing to the group’s record profit reported last Friday. Other details revealedBLOOMBERG - 664 words
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583 2010-08-26 4 RONNIE LIM - Sembcorp’s $800m facility means that pieces have fallen into place for JAC By RONNIE LIM [SINGAPORE] Sembcorp is building a new S$800 million facility on Jurong Island to supply steam and other water and wastewater treatment services to Jurong Aromatic Corporation’s (JAC)583 words
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523 2010-08-26 4 AP [WASHINGTON] Now it is official: The most significant breach of US military computers was caused by a flash drive inserted into a US military laptop on a post in the Middle East in 2008. In an article published yesterday discussing the Pentagon’s cyberstrategy,AP - 523 words
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Advertisement177 2010-08-26 2 E v 1 mm W servcorp.com.sg Or Google "Servcorp' r >' *>? World's Finest Serviced Offices A cost effective Serviced Office solution Best address, best receptionist, best IT and support Flexible lease terms starting from one month For less than the cost of a secretary We help businesses succeed Call177 words
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Advertisement557 2010-08-26 2 Meeting the challenges from the latest changes in Financial Reporting The financial reporting landscape is advancing rapidly. Eight new FRS and five interpretations were issues since 2008, in addition to 27 new FRS revisions. By 2010, 12 amended FRS and new interpretations have been mandated. More overhauls in FRS are557 words
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Advertisement197 2010-08-26 3 boulevard SINGAPORE Standing apart, yet keeping the finest company. In Singapore's most premier district, Orchard. P If A Far East Organization presents Boulevard Vue a limited collection of 28 bespoke residences in one of Singapore's most exclusive residential enclaves. Boulevard Vue's coveted address instantly invokes recognition. Each residence is a197 words
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Advertisement136 2010-08-26 5 SiN«APoeeZOIO YOUTH- OLYMPIC C;AMES qqP SS3R m m mm SBuBB m M in Suntec SINGAPORE International Convention Exhibition Centre OFFICIAL CONVENTION CENTRE PARTNER Suntec Singapore CeCe6rating IS Years of Serving the Nation Suntec Singapore proudly celebrates 15 years of serving the nation: Always ready to rise to the occasion as136 words
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COMPANY NEWS
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Article, Illustration546 2010-08-26 6 FELDA CHAY - Christopher Pan alleging wrongful termination of his employment By FELDA CHAY IT and communications firm Teledata faces a possible lawsuit from its former chief executive Christopher Pan. Mr Pan has served the company and its board with a letter of demand, seeking $1.35 million for546 words
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439 2010-08-26 6 CHEN HUIFEN - By CHEN HUIFEN FORMER investment banker Richard Seow resigned from the board of Parkway Holdings yesterday, following the change in shareholding control at Asia’s largest private healthcare provider. Mr Seow, who has been a director of Parkway for five years, last held the position439 words
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281 2010-08-26 6 GRACE LEONG - By GRACE LEONG AN indirect subsidiary of Federal International (2000) Ltd is appealing a Singapore High Court ruling that awarded US$1.35 million in damages to a Singapore-based commodities trading house. The appeal, which will be heard today, seeks to overturn a281 words
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438 2010-08-26 8 UMA SHANKARI - Revenue up 32%; property group proposes bonus issue By UMA SHANKARI SIM Lian Group reported a 169 per cent surge in net profit for the year ended June 30, as it recorded more revenue from residential projects under development. The property group is also438 words
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408 2010-08-26 8 LYNN KAN - Firm has completed acquisition of Tat Petroleum By LYNN KAN CORROSION prevention specialist See Hup Seng has completed the acquisition of its subsidiary Tat Petroleum, making the latter’s listing on the main board “not an issue any more”, SHS told BT. Last408 words
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338 2010-08-26 8 TEH SHI NING - By TEH SHI NING LUXURY hotel group Shangri-La Asia yesterday posted a half-year profit of US$74.8 million, 11 per cent up from US$67.3 million a year ago. Sales rose 35 per cent to US$722.9 million for the six months ended June 30, from338 words
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Article, Illustration371 2010-08-26 8 MELISSA TAN - By MELISSA TAN MAINBOARD-listed heavy lift and haulage firm Tiong Woon yesterday posted a full-year net profit of $23.9 million a 43 per cent dive from the $42.3 million it made last year. Revenue also sank 27 per centFILE PHOTO - 371 words
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584 2010-08-26 8 LYNETTE KHOO - Firm banking on better farm yield, organic vegetables BY LYNETTE KHOO CHINA Minzhong yesterday posted a 27.6 per cent jump in net profit to 367.5 million yuan (S$73.5 million) for the year ended June 30 its first reported earnings post-IPO and584 words
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Article, Illustration344 2010-08-26 9 JAMIE LEE - Tycoon Goh Cheng Liang no longer a substantial shareholder By JAMIE LEE TUNG Lok Restaurants (2000) has had a slight change in its pool of substantial shareholders. The Chinese restaurant operator yesterday announced that tycoon Goh Cheng Liang has ceased to be344 words
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COMPANY BRIEFS
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Article111 2010-08-26 9 CHINA Enersave narrowed its losses for the second quarter ended June 30 to $2.11 million from $157.15 million as it incurred lower operating expenses and suffered a smaller loss from operating activities. Revenue slipped 86 per cent to $325,000 as most operating entities were divested111 words
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Article87 2010-08-26 9 AVAPLAS Ltd will be delisted from the Official List of the SGX-ST with effect from 9am on Aug 27, 2010. The company, which makes and sells precision engineering plastic injection moulding, had said the delisting would help it save on the costs of87 words
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44 2010-08-26 9 BH Global Marine Limited said yesterday that it has secured two contracts worth $20 million which involve floating, production, storage and offloading vessels. The contracts are expected to contribute positively to the overall performance of the group.44 words
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93 2010-08-26 9 CHIP Eng Seng Corporation has been awarded a $142.1 million contract from its 40 per cent-owned joint venture company to build a 680-unit executive condominium (EC) project in Punggol. The property and construction group teamed up with NTUC Choice Homes in a 40-6093 words
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950 2010-08-26 9 Bond issuance of US$14.1b so far this year already surpasses record set in 2001 Bloomberg BOND sales are accelerating as companies on an island vying for the title of world’s fastest-growing economy exploit the lowest funding costs in at least two decadesBloomberg - 950 words
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Page 6 Advertisements
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Advertisement216 2010-08-26 6 My life is filled with comfort and joy. As a young professional, I am working towards financial freedom; achieving a quality lifestyle for me and my family. For my husband and me, that starts with owning our first house. My Freedom, My Objective, My Dream, My investments must provide me216 words
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Advertisement92 2010-08-26 7 With over 100 years of putting you first, you're always covered. Life is still great at 102! Since 1908, Great Eastern has a strong legacy of putting you first. And we are honoured to be recognised as the 4 Most Admired Financial Institution'. Today, as we celebrate our 102 nd92 words
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Advertisement26 2010-08-26 8 i/v/V JACKPOT C CO CO TODAY Sales close at 6pm Draw at 6.30pm at PolHo For details, visit www.singaporepoois.com.sg Towards Community Purpose and Benefit SINGAPORE m26 words
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Advertisement178 2010-08-26 8 Are You Struggling To Earn $8,000 A Month? Do You Want To Start A Profitable Business in Singapore and 16 Countries Worldwide? Booming Business "Started in United States Expanded to Australia, Canada, Mexico, Hawaii, India.. Dr Sobey launched Camp Invention, Invention Centres, USA which now has more than 40,000 kids178 words
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Advertisement252 2010-08-26 9 Journeys to treasure were always meant to be shared. 20% off Business Class fares. Valid for year-end travel from 1 November to 31 December 2010 1-for-1 Business Class fares. Valid for early bird bookings for travel from 1 January to 28 February 2011 With luxurious seats, exceptional service and sumptuous252 words
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SINGAPORE MARKETS
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Article, Illustration583 2010-08-26 10 VEN SREENIVASAN - But late recovery in Wall Street futures and Europe opening gains enable markets to trim losses STOCKS VEN SREENIVASAN Senior Correspondent FALLING US home sales added to market woes yesterday, sending Asian stocks sliding again. A late recovery in Wall Street futures andSource: Bloomberg - 583 words
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Article66 2010-08-26 10 Aug 25 VALUE CLOSE BT OB/OS -435.00 +146.0 BT CADI -*****.00 -16.0 BT 10-day MA -*****.00 -44.00 FTSE ST Mid Cap 719.40 -0.84 FTSE ST Small Cap 533.24 -0.21 FTSE ST All Share 722.50 +0.56 FTSE ST China Top 263.77 -0.38 FTSE ST China 294.86 +0.16 FTSE66 words
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Article56 2010-08-26 10 VOLUME Genting SP 72,924,000 Enzer 71,520,000 Beng Kuang 31,684,000 Juken Tech 31,502,000 SingTel 28,250,000 Informatics 27,746,000 Golden Agri 27,564,000 Noble Grp 27,253,000 China Hongxing 26,947,000 CapitaLand 25,760,000 VALUE($) Genting SP 113,921,100 CapitaLand 102,446,700 SingTel 85,376,420 UOB 53,925,204 DBS Grp 53,086,308 Wilmar 44,319,115 Noble Grp 43,470,520 NOL 32,916,63556 words
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Article186 2010-08-26 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 3 7 0 0 0 7 3 7 Manufacturing 52 47 77 4 9 17 56 56 94 Commerce 14 16 27 4 2 5 18 18 32 Tpt/Stor/Comms 13 14 12186 words
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Article118 2010-08-26 10 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 7,515 7,515 30,267 30,267 Manufacturing 251,779 23,179 274,958 174,504 2,097 176,601 Commerce 117,225 87,927 205,152 98,597 16,050 114,647 Tpt/Stor/Comms 105,763 630 106,393 202,963 59 203,022 Finance 15,529 15,529 146,580 146,580 Construction 15,641 24,927 40,568 5,592118 words
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Article111 2010-08-26 10 Stock name Close Change Stock name Close Change CapMallsAsia 2.060 -0.020 CapitaLand 4.000 +0.020 CapitaMall 1.930 +0.020 CityDev 11.820 -0.080 ComfortDelGro 1.510 DBS Grp 13.740 +0.020 F&N 5.520 +0.120 Genting SP 1.580 +0.040 Golden Agri 0.555 HK Land 5.390 +0.040 JMH 42.820 -0.760 JSH 24.600 -0.060111 words
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Article, Illustration491 2010-08-26 10 Yen retreats from highs, pares gains CURRENCIES Reuters [NEW YORK] The yen pulled back from 15-year highs against the dollar and a nine-year peak versus the euro yesterday, on speculation that Japanese authorities may take action to stem the currency’s rise. The euro see-sawed after strong German economic data, whileReuters; REUTERS - 491 words
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Article107 2010-08-26 10 BY CENTS CLOSE UP DBXT iBoxxKR 5US$ ***** 272.6 1.8 GLD 10US$ ***** 206.1 1.3 DBXT Nifty 10US$ ***** 113.9 0.7 Jardine C&C 3260 58.0 1.8 OCBC Bk 4.5%NCPS 100 ***** 30.0 0.3 DBXT MSMSIA 10US$ 1116 24.4 1.6 OCBC Bk 5.1%NCPS 100 ***** 20.0 0.2 OCC 5.1% NCPS107 words
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Article118 2010-08-26 10 BY CENTS CLOSE DOWN DBXT FTVietnam 10US$ 3428-179.0 -3.7 JMH 4282-103.1 -1.7 Pru 500US$ 865 -61.0 -4.9 DBXT MSTaiwan 10US$ 1573 -52.9 -2.4 STXPO 100 1342 -42.0 -3.0 UOB 1842 -30.0 -1.6 DBXT MSAsExJp 10US$ 2838 -28.5 -0.7 UOB.ES.1008 1846 -26.0 -1.4 DBXT SPASX200 10US$ 2711 -23.1 -0.6 Lyxor118 words
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Article87 2010-08-26 10 Where S$ stands Aug 25 CHNG YR 2010 CLOSE FR Aug 24 S$ LOW S$ HIGH US$ 1.3615 -0.34 1.4219 1.3472 Euro 1.7193 -0.20 2.0153 1.6886 Pounds 2.0982 0.19 2.2831 2.0003 A$ 1.2011 0.61 1.2960 1.1515 Yen* 1.6186 -1.49 1.5987 1.4467 Rupiah* 0.***** -0.23 0.***** 0.***** Baht* 4.3195 -0.1587 words
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Advertisement276 2010-08-26 10 Trade world-class products with speed to fuel Asia's growth. It's about time. With Singapore Mercantile Exchange, the first pan-Asian commodity and currency derivatives exchange, you can now trade multiple products on a single platform. These include Gold, West Texas Intermediate (WTI), Brent Crude and Euro-USD. Capitalise on the price discovery276 words
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SINGAPORE NEWS
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Article, Illustration758 2010-08-26 11 LEE U-WEN - COMMENTARY LEE U-WEN Deputy Foreign Editor IT’S a common gripe that I’ve heard again and again at the various sporting venues, at the international media centre and even on the MRT: Why doesn’t the Youth Olympic Games (YOG) have an official medal tally? AskXINHUA - 758 words
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SINGAPORE ROUNDUP
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86 2010-08-26 11 THE government is increasing the employer CPF contribution rate by one per cent in two phases so as to moderate the impact on employers. The first 0.5 per cent increase will be implemented on Sept 1 and the remaining 0.5 per cent increase86 words
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Article92 2010-08-26 11 THE National University of Singapore Global Asia Institute (NUS-GAI) is launching the Wee Cho Yaw Singapore-China Finance and Banking Forum, which aims to foster a deeper understanding of the challenges and opportunities in banking and finance in Singapore and China. The inaugural lecture will be92 words
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71 2010-08-26 11 THE National University of Singapore (NUS) is the first university in Singapore and in South Asia to join iTunes U, a dedicated area within the iTunes Store which enables the distribution of video, audio and podcast contents to students, faculty and71 words
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Article, Illustration527 2010-08-26 12 TEH SHI NING - ISES data shows students also unhappy with the universities By TEH SHI NING COMMUTERS are rating bus and MRT services more poorly than before, providing a drop in the Customer Satisfaction Index for public transportation for the third straight year. SMRT saw a 3.5FILE PHOTOS - 527 words
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Article, Illustration967 2010-08-26 12 LOUIS CHIN, STACEY JANINE, CHONG,LEMOUSHMI DEVI - Able to identify opportunities in niche markets, Star Furniture has expanded into different market segments By LOUIS CHIN, STACEY JANINE, CHONG,LEMOUSHMI DEVI The writers are students of the NUS Business School UNDER visionary leadership and with constant reinvention, Star Furniture has been able to be consistently967 words
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450 2010-08-26 12 RACHEL SIM - Two programmes to attract students, graduates to SMEs By RACHEL SIM SPRING Singapore yesterday announced the launch of a close to $30 million initiative targeted at tertiary students and university graduates to build a talent pipeline to SMEs. The initiative comprises two programmes.450 words
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Advertisement13 2010-08-26 11 A special feature brought to you by the Workplace Safety and Health Council13 words
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Advertisement71 2010-08-26 12 Celebrating Singapore´s Enterprising Spirit 2010 This series is part of the Enterprise 50 Educational Project between the E50 partners and the NUS Business School. Star Furniture was among the E50 winners in 2009. The annual E50 ranking is co-organised by The Business Times and KPMG, sponsored by OCBC Bank, and71 words
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ECONOMY WATCH
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Article, Illustration649 2010-08-26 13 Central bank hikes borrowing costs for 2nd-straight month, more increases likely Bloomberg [BANGKOK] Thailand’s central bank raised borrowing costs for the sec-ond-straight month and signalled it may raise interest rates further after the economy overcame political unrest to grow more than estimated last quarter. The BankBloomberg; BLOOMBERG - 649 words
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637 2010-08-26 13 Top central bankers gather to thrash out major challenges Reuters [WASHINGTON] Central bankers from around the world will assess a darkening economic outlook at their annual US mountain retreat this week with discussion of printing yet more money to spur growth on theReuters - 637 words
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324 2010-08-26 13 Reuters [INDIANAPOLIS] The risk of a dou-ble-dip US recession has risen in the last six months, Chicago Federal Reserve Bank president Charles Evans said on Tuesday. While a new contraction in the economy is still not the most likely scenario, high unemploymentReuters - 324 words
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398 2010-08-26 13 Report contradicts govt’s assertion that plan is progressive Reuters [LONDON] The British government’s June budget will hit the poor hardest, the Institute of Fiscal Studies said yesterday, contradicting Finance Minister George Osborne’s assertion that his plans are progressive. The IFS reportReuters - 398 words
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Article, Illustration319 2010-08-26 13 AP [BERLIN] Germany’s business confidence rose further in August, according to a key survey yesterday, suggesting Europe’s biggest economy continues to grow as companies plan to hire more and manufacturers enjoy improved demand. The Ifo research institute, based in Munich, said its closely watched business confidenceAP; BLOOMBERG - 319 words
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502 2010-08-26 13 Reuters [DUBLIN] Ireland’s financial headache worsened yesterday after Standard Poor’s (S&P) cut its credit rating a move criticised by the country’s debt management agency. In a strongly worded statement, the National Treasury Management Agency (NTMA) said it disagreed with S&P’s view that Ireland facedReuters - 502 words
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Advertisement54 2010-08-26 13 NEW ZEALAND PREMIUM PROPERTIES SECURE YOUR PIECE OF PURE NZ. The launch of a new "off the plans" development. From only NZ$340,000 10% deposit The balance in 2012 80% finance available 6% Guaranteed returns for two years. Exhibition Today, 5pm 7pm Level 58, Republic Plaza, 9 Raffles Place Ph 8154 words
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MALAYSIA/INDONESIA
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591 2010-08-26 14 S JAYASANKARAN - He derides the supporters of meritocracy, calling them racist By in S JAYASANKARAN FORMER prime minister Mahathir Mohamad’s implicit criticism of Prime Minister Najib Razak’s Malaysia and New Economic Model policies were slammed by the opposition yesterday as a seeming repudiation591 words
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377 2010-08-26 14 Reuters [KUALA LUMPUR] A global authority may be set up to oversee Islamic finance Syariah advisers, a religious scholar said, amid calls to address the fragmented regulation which threatens to slow the industry’s growth. The role of Syariah scholars has been a growingReuters - 377 words
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Article, Illustration333 2010-08-26 14 Reuters [JAKARTA] Indonesia plans to seek at least US$2.2 billion in compensation from Thailand’s statecontrolled PTT Exploration and Production Plc (PTTEP) for damage caused by a 2009 oil spill in the Timor Sea, a government source said yesterday. But PTTEP chief executive AnonReuters; BLOOMBERG - 333 words
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225 2010-08-26 14 AFP [SINGAPORE] Indonesia has the worst record when it comes to protecting intellectual property rights (IPR) in Asia and Singapore the best, a survey of expatriate business people showed yesterday. “Indonesia seems to have lost its momentum for cracking down onAFP - 225 words
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Advertisement86 2010-08-26 14 KEEPING YOU ON TOP OF THE WHAT ARE THEY DOING? I* «*r I Ifj it ill WHY IS HE ANGRY? Iv lit i! «a ii li ASIAONE NEWS THE STRAITS TIMES THE BUSINESS TIMES THE NEW PAPER LIANHE ZAOBAO Li N h u > flSl i MATCH WIN Play the86 words
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GREATER CHINA
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688 2010-08-26 15 But measures stop short of full liberalisation, analysts say AFP [BEIJING] China is stepping up efforts to increase overseas use of the yuan as the nation seeks to reduce its exposure to the US dollar and allow its currency toAFP - 688 words
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290 2010-08-26 15 Reuters [BEIJING] Carrefour, the world’s No 2 retailer, has accused a Chinese supermarket chain of trade-mark violations by illegally using the Paris-based firm’s Chinese name and logo at mainland stores, the China Daily reported yesterday. The paper said the Hefei IntermediateReuters - 290 words
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Article, Illustration449 2010-08-26 15 Reuters [HONG KONG] China Telecom, the smallest of China’s three wireless carriers, reported an 11 per cent rise in second-quarter profit, beating expectations, as it aggressively promoted its new 3G network to gain market share. China Telecom made a net profitReuters; REUTERS - 449 words
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Advertisement168 2010-08-26 15 uJTl, _r^v SSjJS "N e- r.jm &rm\ fflllirU'S^ i»iTfi^^lliT^^il Be charmed and entertained in the company of your loved ones by the melodic sounds of the Singapore Symphony Orchestra. Die Fledermaus: Overture r JOHANN STRAUSS II VAUGHAN WILLIAMS arr. RALPH GREAVES Fantasia on Greensleeves U m aU Conductor BIZET Carmen:168 words
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Advertisement71 2010-08-26 15 *****38 ARMENIAN" i's IF m -'r" T.' my home Conserved shophouses with 6-storey new extension in historic location t II -J 1 I H STRATA OFFICES FOR SALE LIMITED UNITS Developer Hong How Investments Pte Ltd A Hong How Group Company *****511 24 boutique SOHO offices 549 1808sf, with ensuite71 words
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GREATER CHINA/INDIA
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704 2010-08-26 16 Stance fuels talk it will hike interest rates for fifth time since March Bloomberg [NEW DELHI] India’s central bank said controlling inflation is its top priority, a stance that may fuel speculation it will raise interest rates for the fifth time since mid-March.Bloomberg - 704 words
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Article, Illustration434 2010-08-26 16 Expectations low for pre-IPO auction to lead to a major deal Reuters [HONG KONG] American International Group Inc (AIG) is expected to decide by early next week whether to enter formal negotiations with strategic investors for AIA, its Asian life insurance business,Reuters; REUTERS - 434 words
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291 2010-08-26 16 Reuters [MUMBAI] State-run Oil and Natural Gas Corp (ONGC) is divided over making a counter-bid for Cairn India, which is the target of a US$9.6 billion takeover offer by Vedanta, the Business Standard reported yesterday. Citing unidentified ONGC officials, the newspaper saidReuters - 291 words
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Article, Illustration563 2010-08-26 16 AP [BEIJING] China has just been declared the world’s second biggest economy, and now it has a monster traffic jam to match. Triggered by road construction, the snarl-up began 11 days ago and was 100 kilometres long at one point. Reaching almostAP; REUTERS - 563 words
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280 2010-08-26 16 AFP [BEIJING] China plans to merge about 1,000 regional radio and television networks into a single national cable television network company, state media reported yesterday. The State Administration of Radio, Film and Television, or SARFT, said the new company would be formed byAFP - 280 words
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Advertisement880 2010-08-26 16 w WATS NOTICES IN THE MATTER OF THE BUILDING MAINTENANCE AND STRATA MANAGEMENT ACT 2004 AND IN THE MATTER OF THE LAND TITLES (STRATA) ACT AND IN THE MATTER OF THE MANAGEMENT CORPORATION STRATA TITLE PLAN NO. 1093 PEILY COURT NOTICE OF WINDING UP Notice is hereby given that at880 words
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ASIA-PACIFIC
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721 2010-08-26 17 Chinese buyers tend to be very particular about the features of properties sought NYT [NEW YORK] In July, Michael Rudder, a broker at Time Equities, was nearing completion of a deal with a Chinese client to buy two floors of office condominiumsNYT - 721 words
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388 2010-08-26 17 Ruling party power broker to make decision by today Reuters [TOKYO] Ichiro Ozawa, Japanese ruling party power broker, left the door open yesterday to challenging Prime Minister Naoto Kan in a party leadership vote next month even as an ally tried to preventReuters - 388 words
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Article, Illustration443 2010-08-26 17 Reuters [SYDNEY] Maybe it’s the beaches or possibly the food but Australia and Japan were yesterday named the most desirable holiday destinations in the AsiaPacific in an annual survey. China replaced Hong Kong in third place. An online poll of 6,714 travellers from 13 keyReuters; AFP - 443 words
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Advertisement420 2010-08-26 17 uuj jft l 1 I I U. ac i it _v __2 **Y. k* iut^BL r.--|h MWlpi r 2 as f -*wr s -i-. ac^X3 m SS3 L-I 'r S? <2 /r ssg i tfct F t 3® 7 m SVgKaSs ~--v o 9 •5 -:x Jl >► 7^ -4420 words
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ASIA-PACIFIC/WORLD
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Article, Illustration582 2010-08-26 18 Reuters [DUBAI] Dubai World plans to sell its prized assets over a period of eight years to generate as much as US$19.4 billion to pay off creditors burned by its over-ambitious expansion, according to a restructuring document obtained by Reuters yesterday. The state-ownedReuters; BLOOMBERG - 582 words
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251 2010-08-26 18 AP [CANBERRA] The contenders to become Australia’s next prime minister each promised yesterday to govern for a full term if three key independent lawmakers support their competing parties to form an administration after indecisive elections. The independents are likely to decide whether Julia Gillard’sAP - 251 words
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498 2010-08-26 18 July figures show unexpected fall in demand which may hit H2 growth LATEST US DATA Bloomberg [WASHINGTON] Orders for US durable goods increased less than forecast in July, a sign that one of the few remaining bright spots in the economy is cooling.Bloomberg - 498 words
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628 2010-08-26 18 Bloomberg [BERLIN] Chancellor Angela Merkel’s Cabinet approved measures requiring German banks to contribute to a bailout fund, reigniting efforts to introduce an international banking levy to prevent future financial crises. The German bill, part of a revamp of bank-rescue rules passed by ministers inBloomberg - 628 words
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436 2010-08-26 18 It’s in solid position to raise hostile bid for Potash Corp Reuters [MELBOURNE]BHP Billiton fired a warning shot to its takeover target Potash Corp and potential counterbidders, showing off its best half-year profit in two years and a hefty balance sheet. NetReuters - 436 words
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Article502 2010-08-26 18 Reuters [BUDAPEST] Hungary’s government yesterday ruled out signing a new financing deal with the International Monetary Fund (IMF), triggering renewed forint weakness and uncertainty about the country’s fiscal outlook. Officials had excited markets with comments late on Tuesday promising to renew talks with theReuters - 502 words
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Advertisement42 2010-08-26 18 tabla! THE HEARTBEAT OF THE INDIAN COMMUNITY TAGORE TRIBUTE v y 7/ i U 83 rr As the Nobel Laureate's 150th birth anniversary approaches, how relevant is he to today's Indian? GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS (WHILE STOCKS LAST)42 words
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WORLD
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661 2010-08-26 19 Acquisitions fuelled by cash-flush firms seeking to diversify AFP [PARIS] A boom in mergers and acquisitions has shaken markets out of their summer doldrums as major companies, flush with cash from cost-cutting and with meagre growth prospects, look to pick up bargains. AugustAFP - 661 words
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476 2010-08-26 19 Move will help IRS and Congress clarify ambiguous portions of US tax code NYT [NEW YORK] Every year, thousands of largest US corporations are required to report to the Internal Revenue Service whether they have reduced their tax bills by using questionableNYT - 476 words
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Article, Illustration354 2010-08-26 19 Reuters [NEW YORK] Robert Herz, the chairman of the Financial Accounting Standards Board that sets US accounting rules, said on Tuesday he is retiring after more than eight years at the helm. The accounting body’s board will also increase to seven members from five,Reuters - 354 words
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Article429 2010-08-26 19 NYT [NEW YORK] An e-book battle between Random House and the Wylie Agency appears to have ended. After a monthlong standoff, Random House said on Tuesday that it now held the rights to publish e-book editions of 13 classic books that the literary agent Andrew WylieNYT - 429 words
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Page 19 Advertisements
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Advertisement4 2010-08-26 19 www.omy.sg <51 http://showbiz.omy.sg .JSe4 words
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Advertisement233 2010-08-26 19 Clariden Global Proudly Presents Influential Thought Leaders to Asia Developing Strategic Intuition Program 21 22 October, 2010 Shangri-La Hotel, Singapore You will learn how great achievements in business actually happen and how strategic leaders, like Google founders and Steve Jobs, use Strategic Intuition to create powerful strategies for their organizations.233 words
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Advertisement39 2010-08-26 19 KhattarWong Congratulates Singapore for being the host of the Singapore 2010 Youth Olympic Games KHATTARWONG Partnership in Practice is the Official Legal Services Sponsor of the inaugural Youth Olympic Games £»N*APo«e20!0 YOUTH- Olympic, XXV TMO OFFICIAL LEGAL SERVICES SPONSOR39 words
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FOCUS: BUILDING BOOM
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Article, Illustration1376 2010-08-26 20 It’s planning a glittering US$180 million structure designed by Lord Norman Foster, who built London’s ‘Gherkin’ tower Bloomberg [NEW YORK] YALEUniversity’sSchool of Management, which aspires to be among the world’s best business schools, crams its students and faculty into 19th century homesBloomberg; PHOTOS: BLOOMBERG - 1,376 words
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Article, Illustration859 2010-08-26 20 They rise in sand to catch spill from nearby Cairo NYT [CAIRO] THE highway west out of Cairo used to promise relief from the city’s chaos. Past the great pyramids of Giza and a final spasm of traffic, the open desert beckoned, 160 barren kmNYT; AP - 859 words
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Page 20 Advertisements
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Advertisement7 2010-08-26 20 T ft v\v iff I fl11 www.radio9l3.com7 words
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Advertisement24 2010-08-26 20 a* -s- Lianhe Zaobao love doesn't come easy for SMEs in seeking local partners "-JftttflT atifciJB! To subscribe, call 6388-3838 or go to sphsubscription.com.sg24 words
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AVIATION
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366 2010-08-26 21 Growth in Latin America, Asia to drive profitability as stalling economy crimps European traffic Bloomberg [MELBOURNE] The International Air Transport Association (Iata), which represents 230 airlines, said international passenger and freight traffic rose in July as flights increased in Asia and theBloomberg - 366 words
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Article, Illustration414 2010-08-26 21 Tragedy is the first involving an ERJ-170 or ERJ-190 plane Reuters AP [SAO PAULO] A crew of technicians at Embraer, the world’s largest maker of regional jets, flew to China to investigate a crash of one of its ERJ-190 planes, which has been called theReuters; AP; AFP - 414 words
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321 2010-08-26 21 Reuters [ABUJA, Nigeria] Nigerian airlines have gained the right to fly their own planes to the United States after an improvement in the West African nation’s aviation safety standards, Nigerian and US officials said here on Tuesday. Airline securityReuters - 321 words
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314 2010-08-26 21 AFP [BEIJING] Tibet Airlines, which plans to launch its first domestic flights from the remote Himalayan region next year, is eyeing direct flights to Europe to pull in tourists, state media said yesterday. The state-owned airline plans to start direct flights to European countries inAFP - 314 words
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Article3004 2010-08-26 21 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ455 1300 SQ458 1430 --EY473 1950 Adelaide LH9771 1745 LH9770 2350 SQ278 1745 SQ279 2350 VS7268 1745 VS7279 2350 9W4081 1820 AF8087 1820 BA7381 1820 JL5084 1820 MU8213 1820 QF81 1820 Amsterdam SQ323 0605 AZ3993 0025 US5410 0605 KL8363,004 words
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4179 2010-08-26 22 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.4,179 words
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416 2010-08-26 21 Bloomberg [LONDON] Rolls-Royce Group plc has yet to reopen a site used to trial jet engines for Boeing Co’s 787 Dreamliner model and the rival Airbus SAS A350 after a US$17 million turbine blew up on the test bed three weeks ago. TheBloomberg - 416 words
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Page 21 Miscellaneous
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Miscellaneous359 2010-08-26 21 CRYPTIC CROSSWORD Across 1 Money graduate collected for community near castle (6) 5 A club with disorder returning building where blood is shed (8) 9 Tricks used by animals, we hear, to effect disguises (8) 10 Stops with a set of five kids about time! (6) 11 Copper? That could359 words
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Page 22 Advertisements
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Advertisement34 2010-08-26 22 Shipping lines seeking reliable logistics partners Can they find your services here in the Shipping Times? O O TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES int DU3IIMC33 IIIVIC3 SHIPPING TIMES34 words
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SHIPPING
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Article, Illustration369 2010-08-26 23 It cites recovering world trade, sale of logistics unit stake Bloomberg [HONG KONG] Cosco Pacific Ltd, Asia’s third-largest container-terminal operator, said first-half profit rose 82 per cent on recovering world trade and the sale of a stake in a logistics venture. Net income roseBloomberg; BLOOMBERG - 369 words
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372 2010-08-26 23 Shipbuilder also out to boost scrapping, repair operations Bloomberg [HONG KONG] Yangzijiang Shipbuilding Holdings Ltd, the biggest Chinese shipbuilder listed in Singapore, is in talks to buy shipyards after an industrywide slump in orders last year damped prices. “We are in active negotiations,” ZhangBloomberg - 372 words
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471 2010-08-26 23 Bloomberg [SEOUL] Daewoo Shipbuilding Marine Engineering Co, the world’s second largest shipyard, aims to generate 30 per cent of its sales from wind power by 2020 as pollution concerns spur demand for alternative energy. The company expects to generate as much asBloomberg - 471 words
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487 2010-08-26 23 Traders concerned about slowing demand in region and ample tonnage Reuters [SINGAPORE] Freight rates for crude and fuel oil tankers bound for Asia are expected to remain near 2010 lows next week due to ample tonnage and limited demand, traders and industryReuters - 487 words
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159 2010-08-26 23 Reuters [BANGALORE] Shipping services firm Clarksons posted a 49 per cent rise in first-half pre-tax profit, helped by a better-than-expected improvement in dry bulk markets, and said it was confident of future growth. UK’s leading ship broker, which raised its interim dividend byReuters - 159 words
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Page 23 Advertisements
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Advertisement29 2010-08-26 23 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 SHIPPING TIMES29 words
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Advertisement15 2010-08-26 23 Experienced sh;p maintenance services wanted. Can they find your services here in the Shipping Times?15 words
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EDITORIAL & OPINION
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468 2010-08-26 24 EDITORIAL THE proliferation of online trading “academies” and self-styled “trading gurus” claiming to be able to empower anybody to become profitable share and currency traders needs to be watched. Anecdotal evidence suggests that a growing number of people seem to be falling for the enticing468 words
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Article, Illustration781 2010-08-26 24 ROBERT SAMUELSON - THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group THE question of what to do about Fannie Mae and Freddie Mac the two US government-created enterprises that have backed massive loans to the housing market involves much moreThe Washington Post Writers Group - 781 words
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Article, Illustration1135 2010-08-26 24 MAK YUEN TEEN - The consequences of not paying attention to ethical, social, and environmental issues and putting in place systems and processes for managing them could be catastrophic By MAK YUEN TEEN The author is an associate professor at NUS Business School, where he teaches corporate governanceREUTERS - 1,135 words
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Article, Illustration1425 2010-08-26 25 ANTHONY ROWLEY - If salvation is not near, then maybe politicians should stop promising quick fixes and focus on long-term adjustment ANTHONY ROWLEY Tokyo Correspondent IMMIGRATION officials are rarely in a mood to chat these days, given their obsession with “terrorist” threats. So it was a pleasant surpriseREUTERS - 1,425 words
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Article, Illustration584 2010-08-26 25 DAVID PAULY - The rush into bonds clearly has gone too far. Prices have little room to gain more with interest rates at historical lows By DAVID PAULY David Pauly is a columnist for Bloomberg News. The opinions expressed are his own FIVEBLOOMBERG - 584 words
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SINGAPORE STOCKS
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Article8866 2010-08-26 26 Transaction date: Aug 25 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 20.5 13 3148 8Telecom 19 18.5 19 1.7 9.5 6.1 91 12 6 5834 A-Sonic 7.5 unch 5158,866 words
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Article1916 2010-08-26 27 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 9 5 1181 t AA Grp 5 4.5 6 27.8 4.8 225 130 6222 t APStrategic 190 unch 6 194 190 1851,916 words
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Article9475 2010-08-26 27 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.17/ APS Alpha Fund (USD)!** 0.86/ APS Alpha Fund Cl B SGD!** 1.15/ APS Alpha Fund Cl B USD!** 0.84/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM9,475 words
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Article793 2010-08-26 27 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 $mil 124 107 6389 ABF SG Bond ETF 118 unch 10 118 118 114 117 538.6 917 716 CIMBAsean40 100US$ US914 +2 7 914 914793 words
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Article74 2010-08-26 27 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 $mil 56 36.5 6000 AVJennings A45cd +1 3 45 44.5 44.5 48 3.6 7.8 3.6 117.2 31.5 16 6017 Genting HK US$ US30 unch *****74 words
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FINANCE & COMMODITIES
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374 2010-08-26 28 In local curr In S$ In US$ dy yr dy yr dy yr Aug 24 Index Change Change Change Change Change Change World Index Preliminary 781.2 -1.0 -6.2 -0.7 -10.2 -0.9 -7.3 EAFE Preliminary 724.6 -1.3 -7.7 -0.8 -12.9 -1.0 -10.1 Europe Preliminary 1053.6 -1.5374 words
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Article178 2010-08-26 28 Aug 25 Aug $S Offer Bid Overnight 1/16 par 1-month 3/8 1/8 2-months 7/16 3/16 3-months 9/16 5/16 Overnight mode: 0.10 US$ Offer Bid 7 days 0.35 0.25 1 month 0.49 0.29 2 months 0.55 0.35 3 months 0.60 0.40 6 months 0.80 0.60 9 months 1.00 0.80178 words
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Article22 2010-08-26 28 Aug 25 S$ Bid Offer 1-month 1.3561 1.3573 2-months 1.3560 1.3573 3-months 1.3560 1.3573 6-months 1.3557 1.3569 Source: OCBC22 words
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Article134 2010-08-26 28 Aug 25 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Sep 10 336.5 333.0 336.3 48 Oct 10 335.0 Nov 10 335.0 Dec 10 335.0 Jan 11 335.0 Feb 11 335.0 Mar 11 335.0 Apr 11 336.0 May 11134 words
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Article86 2010-08-26 28 Aug 25 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****Z 25.11.2010 0.28 0.22 0.21 1-Year BY*****W 03.05.2011 0.33 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****1E 2.500 01.10.2012 104.25 5-Year N*****0N 1.375 01.10.2014 102.96 7-Year N*****0Z86 words
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Article105 2010-08-26 28 Aug 24 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Sep 10 999.50 1007.00 1009.75 995.00 Nov 10 999.00 1005.50 1008.25 993.25 Jan 11 1006.75 1012.75 1014.75 1014.75 Mar 11 1010.50 1017.50 1019.25 1006.00 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Sep 10 39.48 39.25 39.56105 words
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Article77 2010-08-26 28 CRUDE OIL PRODUCTS Aug 24 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 72.48 -1.05 WTI (Near Mth) 71.70 -1.00 Dubai (1-Mth F) 71.22 -1.30 Tapis blend 78.00 -1.50 Minas 73.10 -1.50 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 71.44 -0.45 Jet Kerosene 82.80 -1.90 US$/barrel Opec Oil77 words
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2367 2010-08-26 28 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left 6221 Asia-Pacific Strategic W*****6 38.5 -0.5 10 1 150 -1 4.94 45 6227 ASJ Hldgs W*****1 3.5 1 4 15 1.86 18 6168 Asia Water Tech Ltd W*****8 4.52,367 words
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Article132 2010-08-26 28 Aug 25 As at 9am Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.1910 1.2270 Can dollar 1.2760 1.2910 Euro 1.7100 1.7300 NZ dollar 0.9490 0.9690 Sterling pound 2.0850 2.1090 US dollar 1.3500 1.3650 Local dollars to 100 units of foreign132 words
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Article27 2010-08-26 28 Aug 25 Open High Sett STI Aug 2926 SIMSCI Aug 342.1 344.8 344.4 Taiwan Aug 277.6 277.9 271.7 Source: MF Global (S) Pte. Ltd27 words
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Article66 2010-08-26 28 Aug 25 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 10 2671 2640 2671 2632 529 4619 Oct 10 2580 2541 2590 2541 2312 ***** Nov 10 2526 2486 2526 2486 ***** ***** Dec 10 2495 246866 words
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Article430 2010-08-26 28 Aug 25 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Sep10 99.6675 0 967 Dec10 99.5700 0 3584 Mar11 99.5150 0 3466 Jun11 99.4350 0 2192 EUROYEN TIBOR FUTURES Sep10 99.6550 25 3745 Dec10 99.6950 99.6950 99.6950 99.6900 0 1825 Mar11 99.7050 0 2043 Jun11 99.7400 99.7400430 words
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Article464 2010-08-26 28 Aug 25 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.940 6.040 0.699 6.910 41.624 79.761 0.751 10.624 2.792 1.258 76.082 40.220 1.205 6.526 0.913 28.480 27.985 0.575 0.889 Canada 1.064 6.429464 words
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Article85 2010-08-26 28 Aug 25 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths85 words
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Article155 2010-08-26 28 Aug 25 US$ Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2046 1.2064 0.8883 0.8888 Canadian dollar 1.2821 1.2840 0.9454 0.9460 Euro 1.7248 1.7266 1.2719 1.2721 NZ dollar 0.9574 0.9591 0.7060 0.7066 Sterling pound 2.0957 2.0984 1.5454155 words
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Article137 2010-08-26 28 Aug 25 GOLD (US$/oz) Aug 25 Aug 24 Hong Kong 1236.50 1220.00 Aug 24 Aug 23 London 1232.55 1223.70 1233.30 1224.15 Source: Thomson Reuters CAST BAR Aug 25 (S$) Selling Buying Kilobar 57,677.28 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 129.47 54 5gm 367.01 269 10gm 654.84137 words
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Article71 2010-08-26 28 Aug 24 Aug 24 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2030.25 2039.00 3 months 2028.00 2040.00 Copper, Grade A (US$/tonne) Cash 7115.75 7235.00 3 months 7137.00 7255.00 Lead (US$/tonne) Cash 1985.50 2021.50 3 months 2012.00 2048.00 Nickel (US$/tonne) Cash *****.50 *****.50 3 months *****.00 *****.00 Tin (US$/tonne)71 words
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Article82 2010-08-26 28 Aug 24 COCOA (£/tonne) Close Prev High/Low Sep 10 2093 2090 2096/2072 Dec 10 2005 2015 2019/1987 Mar 11 2017 2025 2029/1999 May 11 2031 2033 2035/2012 COFFEE (US$/tonne) Close Prev High/Low Sep 10 1600 1737 1736/1581 Nov 10 1640 1777 1775/1620 Jan 11 1651 1787 1783/1634 Mar 1182 words
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BizIT
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Article, Illustration607 2010-08-26 29 RAJU CHELLAM - Japanese giant to invest US$40 million here to beef up data centre and offer enterprise cloud services, reports RAJU CHELLAM RAJU CHELLAM JAPANESE giant Fujitsu Corp has picked Singapore as its first country in Asia to launch its cloud computing initiative and will607 words
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339 2010-08-26 29 RAJU CHELLAM - By RAJU CHELLAM IF you think the cloud is still hazy, think again. Worldwide cloud services revenues will cross US$68 billion this year, up 16.6 per cent over 2009. By 2014, global cloud services will reach US$148.8 billion in revenues, growing at a339 words
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376 2010-08-26 29 HP’s US$1.6b offer for 3PAR trumps Dell’s US$1.15b bid Reuters [NEW YORK/SAN FRANCISCO] 3PAR Inc said on Tuesday it will start merger talks with HewlettPackard Co (HP) after HP’s US$1.6 billion offer for the data storage company trumped aReuters - 376 words
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294 2010-08-26 29 Reuters [LOS ANGELES] Apple Inc is in talks with News Corp, Walt Disney, and other media conglomerates to rent TV shows to viewers for 99 US cents through iTunes, three sources with knowledge of the matter said. The industry sources, whoReuters - 294 words
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Article142 2010-08-26 29 Reuters [BANGALORE] Internet firm Yahoo! Inc said it has completed the transition of its US and Canadian Eng-lish-language search capabilities to Microsoft Corp’s Bing platform. “Yahoo! Web, image, and video search experiences on both desktop and mobile devices are now powered by the Microsoft plat-Reuters - 142 words
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455 2010-08-26 29 AMIT ROY CHOUDHURY - By AMIT ROY CHOUDHURY GROWTH in the Asia-Pacif-ic smartphone market is expected to skyrocket in the coming years. IT research house Frost Sullivan forecasts that by 2015, some 54 per cent of all devices sold in the region will be smart phones, up from only455 words
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Article, Illustration960 2010-08-26 29 VICTORIA HO - By VICTORIA VICTORIA HO ALMOST 10 years ago, banks like Citibank and UOB scrapped their mobile banking services due to lack of user interest. DBS Bank, too, bowed out of the mobile scene in 2005. That’s all changed now. Almost all960 words
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PROPERTY
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Article, Illustration589 2010-08-26 30 US existing-home sales dive in July, to lowest level since 1999: industry group AFP [WASHINGTON] US home sales are plunging despite rock-bottom mortgage rates as high unemployment prevents people from buying houses and threatens to curtail economic recovery. Existing-home sales plunged for the thirdAFP - 589 words
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643 2010-08-26 30 Reuters [LONDON] Office landlord Derwent London reported sustained growth in the value ofits portfolio to £2.2 billion (S$4.6 billion) yesterday, easing fears of a new real estate slump as Britain’s economic prospects wilt. Chief executive John Burns told Reuters Derwent’s signatureReuters - 643 words
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248 2010-08-26 30 Reuters [BEIJING] Chinese property developers are facing strained cash flows and will be forced to cut prices beginning in the fourth quarter, a state newspaper reported on Tuesday, citing several bankers. Beijing has strictly controlled financing to real estate developers byReuters - 248 words
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Article, Illustration813 2010-08-26 31 Credit Suisse expects HK$734m charge from failed luxury home sales Bloomberg [HONG KONG] Henderson Land Development Co, controlled by billionaire Lee Shau-kee, will probably report lower first-half profit today after a HK$734 million (S$128 million) charge from 20 failed luxury apartment sales. Profit, excludingBloomberg; AFP - 813 words
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427 2010-08-26 31 Developers will make money from higher sales volumes Reuters [LONDON] Allianz has gone overweight on Chinese property stocks, betting that higher sales volumes even at lower prices will boost profits at real estate companies. China’s real estate market has cooled in recentReuters - 427 words
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Article, Illustration611 2010-08-26 32 KALPANA RASHIWALA - Ong Teck Hui heads research arm; Joan Chan leads valuation team By KALPANA RASHIWALA HOME-GROWN property consultancy firm Credo Real Estate has appointed veteran property consultant Ong Teck Hui to head its newly minted research and consultancy division. In June, Credo launched valuation services,611 words
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1817 2010-08-26 32 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED The Clift Apt 02/08/2010 99 527 980 1860 The Sail Marina Bay Apt1,817 words
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362 2010-08-26 32 Reuters [BEIJING] Agricultural Bank of China Ltd will halt all lending to property developers for the remainder of the month, three sources familiar with the decision told Reuters on Wednesday. The move by AgBank, China’s third largest lender by asset value, underscoresReuters - 362 words
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229 2010-08-26 32 Reuters [SYDNEY] Total annualised returns for Australian property rose nearly six-fold in the second quarter from three months earlier, but future rises will likely be moderate, property research firm IPD said yesterday. Total returns for all property types including income andReuters - 229 words
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Advertisement199 2010-08-26 30 PRIME FREEHOLD RESIDENTIAL REDEVELOPMENT SITE FOR SALE Balmoral Condominium Singapore Chinese Girls' Sch Q Or Anglo-Chinese Sch (Pri) BlJ K, IT Balmoral Plaza pki. io. Sloane Court Hotel *>>/ The Pines of Club O SUBJECT m SITE NEWTON Newton Food Centre O Raffles Girls' g STEVENS Rq Sec Sch ShangriLa199 words
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Advertisement106 2010-08-26 30 Cove Drive Elegant 6800/8000sqft 2 1/2 storey modern home Gracious master suite Lovely golf course views Asking $2800psf Paradj rress ndivi tn, ptJJpwCWay ASking $2800psf Ocean Drive Modern 6800/7300sqft 5+1 rooms Full panoramic seaview Asking $3500psf Treasure Island (3 viiias) Ranging fm 8500 12,000sqft land Variants of 9000 I2,000sqft built-upy106 words
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Advertisement103 2010-08-26 30 Freehold Residential Site (Amber Glades) I Tanjong Katong Pri Sch C.H.I.J. (Katong) Pr sch Q SUBJECT O Marine Parade Central Parkway 9 Parade SITE Land area: 3,801.4 sq m (40,918 sq ft) Plot ratio 2.8 Prominent dual road frontages Close to Parkway Parade and Marine Parade Central Near to reputable103 words
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Advertisement21 2010-08-26 30 Hot IPO Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg.21 words
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Page 31 Advertisements
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Advertisement397 2010-08-26 31 FOR SALE BY TENDER Redevelopment Site Along Owen Road 13 Adjoining Shophouses 100% Consensus Total Site Area: 15,388 sq ft (approx) Zoning: Residential with Commercial at 1st Storey Freehold Plot ratio: 3.0, up to 5 storeys In close proximity to City Square Mall, Mustafa Centre, Peh Kio Market Food Centre397 words
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Advertisement417 2010-08-26 31 The NUS Institute of Real Estate Studies (IRES) INVITES YOU! 2011 Will Asian Property Markets Crash Economic Recovery? The NUS-IRES Forum (Supported By SINGAPORE INTERNATIONAL CHAMBER OF COMMERCE) The Jurong Room, Shangri-La Hotel, Singapore, 22 Orange Grove Road, S’pore *****0 16 September (Thursday), 9am 2pm You Cannot Miss This! For417 words
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Advertisement42 2010-08-26 32 With Savills Retail Lifestyle Leasing, you can find the most prime and strategic locations for your business savills Savills has more than 200 offices and associates worldwide to meet all your real estate needs, anywhere in the world Call 6836 6888 SavillS.COITI42 words
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