The Business Times, 2 October 2010

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Microfilm: NL30913
Total Pages: 46
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    17 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg OCTOBER 2-3, 2010 S$1.00 MICA(P) 139/08/2010 SfSl A SINGAPORE PRESS HOLDINGS PUBLICATION
    17 words
  • Article, Illustration
    Lock icon Property cooling shows up in one hot number
    1184 1  -  In an early sign, HDB estimates September’s resale transaction volume to have fallen by 25% from August By Kalpana Rashiwala kalpana@sph.com.sg Singapore IT wasn’t easy to pin-point the effect of the property cooling measures in the government flash estimates released yesterday. But
    Sources: HDB, URA  -  1,184 words
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      212 1 the business www.businesstimes.com.sg the raffles conversation PETER MANDELSON, UK LABOUR POLITICIAN 8 -9 winding down US Treasury makes US$1 b profit GAIN comes from the sale of 1.5 billion Citigroup shares over the past nine weeks, leaving the government with 3.6 billion shares or a 12 per cent stake. 2
      212 words
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      16 1 WEALTH Figuring out the Net generation 33 BT CORPORATE GOLF Big Fish in strong position L16-17
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  • TOP STORIES
    • Article
      Lock icon MARKETS
      135 2 STI 3,130.90 (+33.27) STI FUTURES 3,129.00 (+33.00) SIMSCI 368.40 (+3.74) SIMSCI FUTURES 369.00 (+5.20) STOCKS Friday Change KL COMP 1,466.32 +2.82 NIKKEI 225 9,404.23 +34.88 HANG SENG closed SET 978.58 +3.28 JAKARTA 3,547.11 +45.82 MANILA 4,111.99 +11.92 KOSPI 1,876.73 +3.92 SHENZHEN B closed MUMBAI IND 20,445.04 +375.92 12 noon
      135 words
    • Article, Illustration
      Lock icon Golf club membership prices little changed in September
      516 2  -  BT Golf Index at 204.52 down from Sept 2009’s 212.91 By Ven Sreenivasan ven@sph.com.sg Singapore THE market for golf club membership seems to suffering a mild stutter, judging by the flattish movement of open market prices. The latest BT Golf Index for
      Compiled by BT  -  516 words
    • Article
      Lock icon 5% Citigroup stake sale earns US Treasury US$1b profit
      460 2 Department unlikely to meet goal of exiting bank by end 2010, analysts say Bloomberg New York THE US Treasury Department earned a US$1.02 billion profit for taxpayers from the sale of a 5 per cent stake in Citigroup Inc during the
      Bloomberg  -  460 words
    • Article, Illustration
      Lock icon The young and the generous: 2nd-generation rich kids do good
      686 3  -  They are also nudging their ultra high net worth parents towards strategic, structured giving By Teh Shi Ning tshining@sph.com.sg Singapore PHILANTHROPISTS are getting younger, with wealthy under-30s putting their money to work for the benefit of others. And some are
      686 words
    • Article
      Lock icon DBS does the limbo rock with its savings rates
      205 3  -  By Siow Li Sen lisen@sph.com.sg Singapore JUST when you thought savings interest rates couldn’t go any lower, DBS will be slashing what it pays savers. Effective Oct 15, interest rates for its POSB savings account will be pared to 0.1 per
      205 words
    • Article, Illustration
      Lock icon Special day for underprivileged children
      547 4  -  About 1,100 invited to Underwater World; $250,000 cheque presented to ChildAid By Karen Ng karenng@sph.com.sg Singapore CHILDREN’S Day 2010 took on more meaning for about 1,100 underprivileged children yesterday, as they had the time of their lives at the Underwater World Singapore (UWS). These children,
      JOSEPH NAIR  -  547 words
    • Article, Illustration
      Lock icon India can stage good Commonwealth Games despite crisis
      575 5  -  With its reputation on the line and US$10b spent, it cannot afford to fail By Lee U-Wen leeuwen@sph.com.sg Singapore IF EVER the sporting world needed divine intervention, this weekend would be the most opportune moment to call for it. Tomorrow, New Delhi
      AFP  -  575 words
    • Article
      Lock icon Tiger flights disrupted
      322 5  -  By Nisha Ramchandani nishar@sph.com.sg Singapore A SPATE of “cancelled” Tiger Airways flights out of Changi Airport yesterday sparked rumours of a pilots’ strike but the budget carrier debunked the notion. According to the Changi Airport website, at least 15 flights departing from Singapore to cities including Bangkok,
      322 words
    • Article, Illustration
      Lock icon Demand for management training limitless: US dean
      841 6  -  This is despite 12,600 schools worldwide that award business degrees By Anna Teo anna@sph.com.sg Singapore SOME 12,600 schools worldwide award business degrees of some kind, but demand for trained managerial talent will be “limitless” for the foreseeable future. “If you think about the
      ARTHUR LEE  -  841 words
    • Article
      Lock icon PM Lee in Brussels for Asem summit
      454 6  -  Discussion topics include financial, economic governance By Chuang Peck Ming peckming@sph.com.sg Brussels JUST fresh from a meeting with US President Barack Obama, Prime Minister Lee Hsien Loong is set for another big pow wow, this time with the Europeans. The Singapore leader, along
      454 words
    • Article, Illustration
      Lock icon Ex-SAP head Apotheker is new HP CEO
      486 7 He has 20 years of expertise in software Bloomberg San Francisco LEO Apotheker, HewlettPackard Co’s new chief executive officer, brings with him two decades of software expertise that may help the world’s top maker of computers better mesh applications into a growing hardware
      Bloomberg  -  486 words
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      62 2 CONTENTS NEWS Top Stories 2-7 Raffles Conversation 8-9 Week in Review 10 Companies 11-14 From The Desk Of 15 Singapore 16-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-32 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Design L2-3 Dining L4-5 Gadgets L6 Entertaining L7 Travel
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  • Page 3 Miscellaneous
    • Miscellaneous
      Lock icon Page 3 Miscellaneous Column 1
      73 3 SINGAPORE —SWEEP— 1 ST PRIZE $2,200,000 $500,000 $250,000 $550,000 2 ND p R ZE 3 rd PRIZE SUPER SWEEP *2g; la_ 'iti Liu i® oraw No- *****10 r$3£t*,:w. 1ST PRIZE S2.2MFFLION 2nd Prize 5500,000 3rd Prize 5250,000 ■SI555fl8fl8l^j ~'°*NW«a -$3 ;r.w. ')Mr DRAW ON WEDNESDAY, 6 OCTOBER 2010 p LAV©
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  • Page 5 Advertisements
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      249 5 4 JL I I .1 IT TOOK 22 YEARS OF PASSION TO HANDCRAFT THE TAJ. IT TAKES 22 DAYS TO HAND-WEAVE AN INDIAN SILK SAREE! A work of love that stands the test of time is not mass produced. It is evolved, in a never-before, never-again blend of skill, pride,
      249 words
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  • Page 7 Advertisements
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      2349 7 ASL MARINE HOLDINGS LTD. (Incorporated in the Republic of Singapore) Company Registration No. *****8542N NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Tenth Annual General Meeting of the Company will be held at Jurong Country Club, 9 Science Centre Road, Singapore *****8 on Monday, 25 October 2010
      2,349 words
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  • RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon New Labour’s Spinmeister
      2320 8/9  -  Peter Mandelson discusses the transformation of Britain’s Labour Party and his rollercoaster political career. By Vikram Khanna By Vikram Khanna vikram@sph.com.sg SOMEpeopledriftin-to politics. Others have politics thrust upon them. Many chooseitasaprofession or a calling, after doing something else. And then there are those like Peter Mandelson, best
      ARTHUR LEE  -  2,320 words
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK | Sept 27-Oct 1, 2010
      • Article
        Lock icon Ferrari’s Alonso wins a thriller
        40 10 FERRARI’S Fernando Alonso led from start to finish to win a thrilling race at the 2010 Formula One SingTel Singapore Grand Prix last night, in dry conditions unlike during the earlier qualifying and practice sessions.
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      • Article
        Lock icon Review port deal with PSA: Pakistan navy chief
        58 10 PAKISTAN should review a deal with the Port of Singapore Authority to run a strategic shipping port, said Pakistan’s navy chief, amid speculation that the contract may go to key ally China. Admiral Noman Bashir, also government adviser for maritime development, said
        58 words
      • Article
        Lock icon GIC cranks up investments in emerging markets
        60 10 THE Government of Singapore Investment Corp will invest a much bigger portion of its vast portfolio in emerging markets, especially Asia. It has already boosted its investments in public equities by nearly 50 per cent over the past fewmonths, and plansto also“substantially” increase
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      • Article
        Lock icon GIC’s logistics arm to launch IPO of up to $3.9b
        62 10 GLOBAL Logistics Properties, a unit of the Government of Singapore Investment Corporation, is launching an initial public offering of up to $3.9 billion, close to rivalling Singapore Telecommunications’ IPO, the largest here ever. The offering comprises 1.17 billion shares at
        62 words
      • Article
        Lock icon Colleagues mourn minister’s death
        31 10 SENIOR Minister of State for Foreign Affairs Balaji Sadasivan died early Monday morning. It is believed that Dr Balaji, who was 55, suffered a relapse of cancer.
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      • Article
        Lock icon $12m fraud at govt stat board
        47 10 POLICE have caught and charged a former Singapore Land Authority senior employee with 249 counts of cheating the authority of some $12 million. If convicted, Koh Seah Wee, 39, faces a jail term of up to 10 years on each charge.
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      • Article
        Lock icon Fernandes, Proton in Lotus war
        67 10 A LEGAL spat has broken out between aviation tycoon Tony Fernandes and carmaker Proton Holdings over the rights to the Lotus brand name. Lotus is a wholly owned and UK-based subsidiary of Proton but, strangely enough, the rights to the brand name are owned by
        67 words
      • Article
        Lock icon Asian stocks expected to hit record highs
        39 10 RECORD earnings over the next two years are expected to drive most Asian stock markets to record highs, with Singapore’s Straits Times Index seen hitting 4,000 points by end-2012, according to Fundsupermart.com.
        39 words
      • Article, Illustration
        Lock icon CAUGHT AND CHARGED
        31 10 If convicted of cheating the SLA of some $12 million, Koh Seah Wee, 39, faces a jail term of up to 10 years on each charge FILE PHOTO
        FILE PHOTO  -  31 words
      • Article
        Lock icon SLA case throws up governance questions
        49 10 THE conspiracy to cheat the Singapore Land Authority of $12 million, while an unfortunate incident, could serve a higher purpose by throwing the spotlight on governance practices in the public sector and prompting discussion on whether such practices now need to be re-examined.
        49 words
      • Article
        Lock icon Provocative remarks on S’pore draw sharp rejoinders
        45 10 SINGAPORE runs the risk of being seen as a “dumping ground” for undeclared wealth and assets in the US and Europe, says the chairman of LawInContext. His views were later rebutted by Citi Private Bank chairman Deepak Sharma.
        45 words
      • Article
        Lock icon Markets roll with punches from Europe
        49 10 AFTER a kneejerk reaction to the downside, financial markets recovered in the wake of two pieces of dim news from Europe. Ireland says that its bank bail-out may top 50 billion euros (S$89.4 billion) while Moody’s has downgraded Spain’s credit rating a notch.
        49 words
      • Article
        Lock icon Mega IPO offers entry into industrial property
        37 10 MAPLETREE Industrial Trust is expected to raise up to $1.19 billion from a global offering and share subscriptions from cornerstone investors. It is pricing its offer at $0.88-0.93 per unit.
        37 words
      • Article
        Lock icon Junket operators slide into the gaming frame
        39 10 THE Casino Regulatory Authority has received licence applications from junket operators endorsed by Resorts World Sentosa. But it would not reveal the number of applicants or say when licences will be granted.
        39 words
    • NEXT WEEK Oct 4-Oct 8
      • Article
        Lock icon US DATA
        30 10 Oct 4 Factory orders for August Oct 6 Crude inventories Oct 7 Initial claims Consumer credit for August Oct 8 Unemployment rate for Sept Wholesale inventories for Aug
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      • Article
        Lock icon SINGAPORE DATA
        7 10 Oct 7 Sept international reserves
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      • Article
        Lock icon EVENTS
        43 10 Oct 4 Tokyo Bank of Japan Monetary Policy Meeting (to Oct 5) Oct 5 Sydney Reserve Bank of Australia (RBA) board meeting. Announcement of interest rate decision Oct 8 Washington 2010 Annual meeting of IMF and the World Bank (to Oct 10)
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  • Page 10 Miscellaneous
    • Miscellaneous
      Lock icon Page 10 Miscellaneous Column 1
      315 10 CRYPTIC CROSSWORD Across 1 A drilling site? (8,5) 10 Reduction in capital growth (7) 11 It reminds me repeatedly not to change (7) 12 Sailor’s refuge in drink (4) 13 Around the end of May, took out foreign capital (5) 14 Examination of the mouth? (4) 17 Scot embraces Hindu
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    • Miscellaneous
      Lock icon Page 10 Miscellaneous Column 2
      19 10 SATURDAY with Ludwig ‘Today’s promo is only $9.99 but another $200 will get you a seat inside the plane...’
      19 words
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  • COMPANIES
    • Article
      Lock icon XinRen Aluminium targets S’pore listing
      513 11  -  Chinese group expected to raise $200m: report By Michelle Quah michquah@sph.com.sg Singapore CHINESE aluminium producer XinRen Aluminum Holdings plans to list in Singapore by way of an initial public offer (IPO). The IPO could be one of the largest S-chip offerings and the onlymetal commodity
      513 words
    • Article
      Lock icon SIAS’ Inaugural Corporate Governance Week
      190 11  -  Zhou Wei Jian chairman, Jade Technologies IN conjunction with its Inaugural Corporate Governance Week from Oct 4-8, the Securities Investors Association (Singapore) is calling on listed companies here to make a public statement. The statement, which will be published in The Business Times, reads: “As
      190 words
    • Article
      Lock icon High Court adjourns hearing on alleged UniFiber debt to CMEC
      387 11  -  By Grace Leong gleong@sph.com.sg Singapore MAINBOARD-LISTED forestry, pulp and construction company United Fiber System has bought itself more time in a fight to stop itself from being wound up by a Chinese conglomerate over a US$19.7 million debt. The High
      387 words
    • Article
      Lock icon Creditors endorse Advance SCT’s debt revamp scheme
      414 11  -  By Lynette Khoo lynkhoo@sph.com.sg Singapore ADVANCE SCT received unanimous consent from creditors for its proposed debt restructuring scheme at a creditors meeting held this week. Under the scheme of arrangement, Advance SCT will pay a fee to eligible creditors by issuing shares in
      414 words
    • Article, Illustration
      Lock icon Most firms won’t bar key execs from casinos
      860 12  -  Though some support move by Second Chance, others feel there are enough internal controls to stop abuse. By Lynette Khoo corporate focus By Lynette Khoo lynkhoo@sph.com.sg LOOKSlikekeyexecu-tivesoflistedcompa-nies, with the exception of those at Second Chance Properties, do not have to worry about
      FILE PHOTO  -  860 words
    • Article
      Lock icon SGX listing of BW Offshore on track
      317 13  -  This comes as deal to acquire Prosafe Production is sealed By Joyce Hooi joyceh@sph.com.sg Singapore PLANS for a dual listing on the Singapore Exchange by Norway-listed BW Offshore part of the BW Group are on track for the second quarter of 2011 now
      317 words
    • Article
      Lock icon Spice reorganises execs
      179 13 MAINBOARD-LISTED mobile and Internet telephony player Spicei2i rang up more changes to its management team with two members of its board now taking on a more hands-on role in running the company. Dilip Modi, formerly a non-independent, nonexecutive director with the firm, has been appointed as the
      179 words
    • Article, Illustration
      Lock icon Increased buying on expected Wall St bounce
      588 14  -  stocks R Sivanithy sivan@sph.com.sg Senior correspondent THEprogrammetrade that lifted the Straits Times Index (STI) 33.27 points to 3,130.9 yesterday was clearly based on anticipation of Wall Street rebounding yesterday. What bit of good news earnings or economic would be released yesterday to cause
      588 words
    • Article
      Lock icon TOP 20 ACTIVES
      111 14 VOL CLOSE GentingSP 228,844 200 14.0 7.5 TopGlobalW*****9 164,477 0.5 0.0 0.0 *GentingHK US$ 104,668 46 4.6 8.2 UMS 51,363 47.5 3.0 6.7 BengKuang 50,606 23 0.0 0.0 GMGGlobal 41,624 27.5 2.5 10.0 ChinaHongxing 39,389 19.5 1.5 8.3 PacificHC 34,266 17.5 1.5 9.4 GuangzhaoIFB 29,389 15 1.0
      111 words
    • Article
      Lock icon STI STOCKS
      111 14 Stock name Close Change CapMallsAsia 2.190 +0.030 CapitaLand 4.120 +0.060 CapitaMall 2.090 -0.060 CityDev 12.880 +0.120 ComfortDelGro 1.540 +0.020 DBS Grp 14.220 +0.140 F&N 6.480 -0.020 Genting SP 2.000 +0.140 Golden Agri 0.570 HK Land 6.330 +0.120 JMH 45.800 +0.660 JSH 27.260 +0.460 Jardine C&C 39.100 -0.200 Keppel
      111 words
    • Business briefing
      • Article
        Lock icon Beng Kuang wins Indonesian patrol vessel contract
        81 14 BENG Kuang Marine says its wholly owned subsidiary, PT Nexus Engineering Indonesia, has secured a contract with Indonesia’s Ministry of Transport to construct and deliver a patrol vessel class 1-A. The value of the contract is 125.3 billion rupiah (S$19 million). Construction of
        81 words
      • Article
        Lock icon Writ of summons served on Nobel Design and subsidiary
        108 14 NOBEL Design Holdings says it has been served with a writ of summons in Singapore. The company and its subsidiary Home 2 Be Pte Ltd have been named defendants in a writ dated Sept 2, filed by IPG MediaBrands (S) Pte
        108 words
      • Article
        Lock icon New CEO for Sino-Singapore Tianjin Eco-City Inv & Devt
        100 14 New CEO for Sino-Singapore Tianjin Eco-City Inv Devt KEPPEL Corporation has announced that Ho Tong Yen has been designated chief executive officer of Sino-Singapore Tianjin Eco-City Investment and Development Co Ltd (SSTEC), taking over from outgoing CEO Goh Chye Boon at the end of this year. Currently, Mr Ho serves
        100 words
      • Article
        Lock icon Property developer files document for Catalist IPO
        65 14 HOMEGROWN lifestyle property developer Oxley Holdings has lodged a preliminary offer document for a listing on the Catalist board of the Singapore Exchange. The property developer plans to use the net proceeds from the IPO to fund the acquisition of new sites, partially
        65 words
    • Article
      Lock icon TOP GAINERS
      62 14 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 507.2 2.8 DBXT iBoxxKR 5US$ ***** 232.6 1.5 JMH 4580 86.7 1.5 DBXT USDIGInfl 5US$ ***** 69.6 0.2 DBXT MSKorea 10US$ 5232 60.4 0.9 JSH 2726 60.4 1.7 OCC 3.93% NCPS10 9460 60.0 0.6 DBXT MSEurope 10US$ 4342 59.1 1.0
      62 words
    • Article
      Lock icon TOP LOSERS
      62 14 BY CENTS CLOSEDOWN DBXT MSJAP 10US$ 3660 -57.8 -1.2 DBXT S&P Short 10US$ 4998 -42.1 -0.6 Thai Prime Fd 850 -36.8 -3.2 Lyxor MS India 10US$ 1793 -27.6 -1.2 SIA 200 1612 -24.0 -1.5 Jardine C&C 3910 -20.0 -0.5 DairyFarm 745 -19.7 -2.0 DBXT FTVietnam 10US$ 3650 -18.4
      62 words
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  • Page 13 Advertisements
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      Lock icon Page 13 Advertisements Column 1
      675 13 NOTICE OF ANNUAL GENERAL MEETING NOTICE HEREBYGIVENthattheAnnualGeneralMeeting NoelGiftsInternationalLtd ~the(~~))Company willbeheld TheBoardroom, SengDrive#03-01,Singapore*****8 on uesday 19October2010 9.00a.m.forthefollowingpurposes:ASORDINARYBUSINESS .1 1. TToo receiveandadoptthe Directors ReportandAuditedAccounts theCompanyfortheyearended30June2010togetherwiththe Auditors Reportthereon. (Resolution .2 2. TToo declare f if firstandf if finaldividend 0.7cent(one-tiertax)and specialdividend 0.8cent(one-tiertax)perordinarysharefortheyearende 30June2010(2009: cent). (Resolution .3 3. TToo re-electthefollowingDirectorsretiringpursuant Article87 the CompanyssArticles Association:i (i)
      675 words
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  • Page 14 Advertisements
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      Lock icon Page 14 Advertisements Column 1
      97 14 Excellent Investment!! ifirtw u_ »New Freehold Penthouse 29th floor, City IR View) »Luxurious Spacious 4,671 sq ft, 5 bedrooms Balcony »High 7m ceiling (living room »Minutes to Orchard Supermarket River Valley Primary »$9.33m $1,999psf) Rudy Tedja 9686 9943 www.rudy.myweb.sg Sole Agent savills Holiday _Y f Escap^f^HV T »m V it
      97 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon On board the Asian Express
      866 15  -  A closer look at logistics is needed to maintain strong economic growth from the desk of Richard Owens CEO, DHL Global Customer Solutions DHL Asia Pacific WITH emerging economies offering large markets for goods and services with correspondingly high growth potential and low fac-tors-of-production costs,
      866 words
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  • SINGAPORE
    • Article, Illustration
      Lock icon TomTom muscles in on the action in Asia
      384 16  -  Dutch maker of navigation devices debuts in Singapore, with gadgets touted to be more user-friendly and intelligent By Winston Chai winstonc@sph.com.sg EUROPE’s largest navigational device maker TomTom has finally mapped its way to Singapore and it’s hoping to stand out from the
      384 words
    • Article
      Lock icon Sundaresh Menon sworn in as A-G
      207 16 SUNDARESH Menon, senior counsel and former managing partner of law firm Rajah Tann, took his oath of office as the sixth attorney-general of Singapore at the Istana yesterday. Mr Menon, 48, takes over as the Singapore government’schief legaladviser and public prosecutor from Walter Woon,
      207 words
    • Article
      Lock icon Travel by train and stay in a Malaysian kampung
      294 17 MALAYSIA’S Ministry of Tourism has launched a series of rail tourism tour packages at Singapore’s Tanjong Pagar Railway Station, at a time when relations between the two countries have warmed. Travellers from Singapore can now hop onto a train heading to
      294 words
    • Article
      Lock icon Jurong Island v 2.0 ready in 2011
      461 17  -  Tenders called for feasibility study on people mover system, consultancy study for water By Ronnie Lim ronnie@sph.com.sg itiative–tofurtherboosttheSingapore petrochemical industry’s competitiveness in the coming decade will be fleshed out and ready by mid-2011, BT has learnt. In connection with this, JTC Corporation yesterday
      461 words
    • Article, Illustration
      Lock icon COURTESY CALL ON MM LEE
      36 17 Minister Mentor Lee Kuan Yew receiving a call by Giovanni Bisignani, director-general and CEO of the International Air Transport Association (Iata), yesterday afternoon. They discussed key developments in the aviation industry
      36 words
    • Article
      Lock icon Sembawang Engineers wins $180m deal
      263 18 The contract is for the construction of a 60-million-gallon waterworks plant at Lower Seletar SEMBAWANG Engineers and Constructors, a subsidiary of the Punj Lloyd Group, said yesterday that it has clinched a $180.6 million contract from Singapore’s national water agency PUB. The deal, awarded through
      263 words
    • Article
      Lock icon New award for venture capitalists
      467 18  -  By Chen Huifen xuifen@sph.com.sg SUCCESSFUL venture capitalists and private equity investors will now get their share of the spotlight with the launch of a new award. The Singapore Venture Capital Private Equity Association (SVCA) has created the SVCA Annual Awards and a SVCA Hall of
      467 words
    • Briefing
      • Article
        Lock icon SMU, Institute of Internal Auditors sign MOU
        41 18 SINGAPORE Management University’s School of Accountancy has signed a memorandum of understanding with the Institute of Internal Auditors (Singapore) to raise competency and groom young talent for the internal audit sector in the Asia-Pacific.
        41 words
      • Article
        Lock icon Financial planners take oath of integrity
        40 18 ABOUT 500 financial planners took an oath yesterday to conduct their practise with professionalism, integrity and moral ethics. It marks the first National Financial Planning Day initiated by the Financial Planning Association of Singapore.
        40 words
    • Article, Illustration
      Lock icon One-stop shop for buyers of M’sian real estate
      369 18  -  By Uma Shankari shankari@sph.com.sg A GOVERNMENT-LED initiative that aims to promote Malaysia as a real estate investment destination has launched an office here. Malaysian Property Incorporated’s office-cum-show gallery at SGX Centre 1, Shenton Way, aims to be a one-stop shop for real
      369 words
  • Page 16 Advertisements
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      Lock icon Page 16 Advertisements Column 1
      120 16 1 V. A I WNINGOUT 1 Michetarffto 4 VJorth y 0 fthH««wW' Biz'> (VneODNu YOUNG WVtb ,Un p-TV No need for FORUM 1 ariMMl «*W r*a» BUSlNESSTlMES THE Bullish ca«s in tough I 4 r— Simon HB rttuw*" 1 „sou«»« ir." jj^§£s2 UBiSs ifeS* ET YOUR COMPREHENSIVE Ml> SINESS NEWS
      120 words
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  • Page 17 Advertisements
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      Lock icon Page 17 Advertisements Column 1
      133 17 Teak Side Table 1 Drw 1.8m Teak Daybed c/w Mattress (excludes Cushions) sA F JnLL Teak Piano 1 Seater Milium UP: $149 Now UP: $69 Now $329' $39 1 st -17 th October 2010 UP: $599 Now Teak Study Table 1 Drw Teak Outdoor Set (4+1) I Drw UP: $249
      133 words
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  • WORLD
    • Article
      Lock icon EU is prepared to rotate seats on IMF board
      367 19 AP Brussels THE EU is prepared to give up some of its power base at the International Monetary Fund (IMF) to emerging countries, a concession that could lead to it losing two seats on the governing board and the right to
      AP  -  367 words
    • Article, Illustration
      Lock icon Aug consumer spending up 0.4%
      471 19 2 months of rising spending bolsters confidence that US is not slipping back into recession latest us data Bloomberg AP AFP Washington CONSUMER spending in the US rose more than forecast in August as incomes climbed, bolstering the Federal Reserve’s forecast that the world’s largest
      Bloomberg; AP; AFP; BLOOMBERG  -  471 words
    • Article
      Lock icon EU to set up rating agency
      256 19 Bloomberg Brussels THE European Union’s executive arm will develop plans to create a European credit ratings agency after discussing measures to regulate the industry with finance ministers and central bank heads in Brussels yesterday. The European Commission will present proposals to create “a new
      Bloomberg  -  256 words
    • Article, Illustration
      Lock icon Hyundai Group submits bid for stake in Hyundai Engg
      568 20 This pits it against Hyundai Motor for control of the construction firm Bloomberg Singapore HYUNDAI Group has bid for a controlling stake worth 2.8 trillion won (S$3.2 billion) in Hyundai Engineering Construction Co, setting up a battle for the company with
      Bloomberg; BLOOMBERG PHOTOS  -  568 words
    • Article
      Lock icon Fannie Mae investors can’t sue over some claims
      324 20 Bloomberg Los Angeles INVESTORS can’t pursue some of their securities fraud claims against Fannie Mae in a lawsuit accusing the gov-ernment-controlled mortgage financier of recklessly disregarding the deterioration of the US housing market. US District Judge Paul Crotty in New York on
      Bloomberg  -  324 words
    • Article, Illustration
      Lock icon Indonesia central bank seen holding rates
      658 21 Sept annual inflation slows to a lower-than-expected 5.8%, inflationary pressure expected to ease further in Q4 Reuters Jakarta INDONESIA’S central bank may leave interest rates on hold next week and all year after September annual inflation slowed to a lower-than-expected 5.8 per cent. Central
      Reuters; AFP  -  658 words
    • Article, Illustration
      Lock icon California budget impasse enters fourth month
      576 21 Bloomberg Sacramento CALIFORNIA’S longest budget impasse entered its fourth month yesterday as governor Arnold Schwarzenegger and top lawmakers wrestled over pensions and corporate taxes to close a US$19.1 billion deficit. Reining in state retirement costs and providing tax breaks for businesses remain sticking points,
      Bloomberg; AFP  -  576 words
    • Article, Illustration
      Lock icon Most voters want Irish PM to quit: poll
      520 22 Mfg data shows economy’s brief upturn weakening Reuters Dublin AMAJORITYof voterswant Irish Prime Minister Brian Cowen to step down from his post before the next general election, a poll showed yesterday, and new data showed the country’s brief economic upturn weakening further.
      Reuters; REUTERS  -  520 words
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      Lock icon Spain recovery fragile as manufacturing sector shrinks
      406 22 Sept new orders fall in a weak economy: survey Reuters Madrid SPANISH manufacturing activity shrank for the first time in seven months in September as new orders taken fell in a weak economy, a survey showed yesterday. The data show that a recovery
      Reuters  -  406 words
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      Lock icon Foreign investors welcome in China: minister
      278 22 AFP Beijing CHINA has reiterated that foreign investors are welcome in the country, state media reported yesterday, as Premier Wen Jiabao heads to Europe for talks expected to touch on market access. “China’s market is wide open to foreign investment,” commerce minister Chen Deming
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      219 19 MATS NOTICES HOE SENG HUAT INVESTMENTS PTE LTD (INMEMBERS’VOLUNTARY LIQUIDATION) Incorporated TheRepublic Singapore Company Registration No.*****0886K NOTICE OF ANNUAL GENERAL MEETING Notice herebygiventhatanAnnual General Meeting Hoe Seng Huat Investments Pte Ltd (In Members’ VoluntaryLiquidation)(“theCompany”) willbeheld 146RobinsonRoad,#0801, Singapore *****9 on Thursday 14thday October2010 4:00p.m. ot o to transactthefollowingbusiness: AS ORDINARY BUSINESS:
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  • MARKETS
    • Article
      Lock icon SGX CATALIST
      11046 26 Transaction date: Oct 1 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 13 3148 8Telecom 19 +0.5 205 19 18.5 18.5 19 1.7 9.5 6.1 91 12 5 5834 A-Sonic
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      Lock icon SECURITIES TRADING SCOREBOARD
      186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 2 6 0 0 0 8 2 6 Manufacturing 101 28 61 6 6 18 107 34 79 Commerce 30 13 29 5 1 8 35 14 37 Tpt/Stor/Comms 27 6 8
      186 words
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      Lock icon BT SHARE INFORMATION SERVICE SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS
      864 26 For week beginning Sep 27 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) New Wave Hldgs Ltd 29-Sep-10 Tan Ming Buy *****0 0.01 ***** 5.50 *****6 12.36 Valuetronics Hldgs 29-Sep-10
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      119 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN SDQ TOTAL Multi Ind 14,308 14,308 58,847 58,847 Manufacturing 399,185 52,409 451,594 240,871 3,647 244,518 Commerce 117,042 21,828 138,870 113,664 4,978 118,642 Tpt/Stor/Comms 100,521 7,446 107,967 179,424 1,105 180,528 Finance 13,119 13,119 120,328 120,328 Construction 53,388 21,680 75,068 14,603
      119 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      129 27 Oct 1 Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.2610 1.2990 Can dollar 1.2700 1.2860 Euro 1.7860 1.8060 NZ dollar 0.9600 0.9810 Sterling pound 2.0580 2.0810 US dollar 1.3070 1.3220 Local dollars to 100 units of foreign currency: Currencies Bid
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      Lock icon STOCK MARKETS
      103 27 YTD change: +8.05% 52-week high: 3,132.03 on Oct 1,2010 52-week low: 2,576.84 on Oct 5,2009 Source: Bloomberg YTD change: +2.22% 52-week high: 23,099.50 on Nov 18,2009 52-week low: 18,971.50 on May 27,2010 (Chart shows Thursday’s index closing) Source: Bloomberg Bloomberg YTD change: +3.45% 52-week high: 11,258.00 on April
      Source: Bloomberg  -  103 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      374 27 In local curr In S$ In US$ dy yr dy yr dy yr Sep 30 Index Change Change Change Change Change Change World Index Preliminary 831.6 -0.5 -0.1 -0.5 -5.5 -0.4 0.9 ‡EAFE Preliminary 761.0 -0.7 -3.0 -0.7 -7.5 -0.6 -1.3 Europe Preliminary 1117.1 -0.2
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 27 Oct 1 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2730 1.2747 0.9688 0.9692 Canadian dollar 1.2746 1.2766 0.9700 0.9707 Euro 1.7982 1.8001 1.3685 1.3687 NZ dollar 0.9714 0.9727 0.7393 0.7396 Sterling pound 2.0743 2.0766 1.5786 1.5789
      154 words
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      Lock icon LIFFE
      81 27 Sep 30 COCOA (£/tonne) Close Prev High/Low Dec 10 1910 1924 1936/1880 Mar 11 1929 1940 1950/1899 May 11 1945 1955 1965/1917 Jul 11 1958 1969 1972/1942 COFFEE (US$/tonne) Close Pev High/Low Sep 10 1726 unch Nov 10 1722 1737 1758/1691 Jan 11 1746 1766 1786/1715 Mar 11 1769
      81 words
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      Lock icon CHICAGO BOT
      93 27 Sep 30 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Nov 10 1106.*****9.*****9.*****2.25 Jan 11 1115.*****8.*****8.*****1.25 Mar 11 1122.*****5.*****5.*****8.25 May 11 1124.*****7.*****5.*****0.75 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Oct 10 44.70 44.06 44.69 43.83 Dec 10 45.09 44.44 45.10 44.20 Jan 11 45.39 44.75 45.40
      93 words
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      Lock icon PALM OIL
      66 27 Oct 1 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Oct 10 2756 2746 2756 2746 2 600 Nov 10 2738 2729 2743 2708 1402 ***** Dec 10 2740 2733 2750 2708 9003 ***** Jan 11 2753 2741
      66 words
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      Lock icon OIL
      75 27 Sep 30 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 81.41 2.02 WTI (Near Mth) 79.84 2.10 Dubai (1-Mth F) 77.98 1.90 Tapis blend 87.50 2.00 Minas 80.85 2.00 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 76.72 0.39 Jet Kerosene 90.30 1.85 US$/barrel Opec Oil Basket Price
      75 words
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      Lock icon LONDON METALS
      71 27 Sep 30 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2321.50 2309.25 3 months 2351.00 2341.00 Copper, Grade A (US$/tonne) Cash 8006.00 8059.00 3 months 8014.00 8064.00 Lead (US$/tonne) Cash 2252.25 2273.00 3 months 2278.00 2300.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
      71 words
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      Lock icon METALS
      68 27 Oct 1 GOLD (US$/oz) Sep 29 Sep 30 Hong Kong 1307.*****1.50 Sep 30 Sep 29 London 1301.*****0.05 1301.*****0.80 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 28.71 28.49 Source: UOB PLATINUM /Lon (US$/oz) Sep 30 Close Previous PM Fix 1662.*****7.00 AM Fix 1650.*****5.00 Source: Thomson Reuters PLATINUM NYMEX
      68 words
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon China’s hard slog for soft power
      786 28 / 29  -  Soft power the ability to get what you want without coercion is self-sustaining, and cheap to maintain and something that China’s leaders covet. By John Foley By John Foley CHAIRMAN Mao once said that “political power grows out of the barrel of a gun”.
      REUTERS  -  786 words
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      Lock icon Asem needs to move beyond rituals
      700 28 / 29  -  The upcoming meeting in Brussels is an opportunity for the Asia-Europe relationship to take a step forward Shada Islam Brussels correspondent A PLANNED encounter at next week’s Asia-Europe Meeting (Asem) between Chinese Prime Minister WenJiabaoandJapan’sPremier Naoto Kan is just what the doctor ordered. If
      700 words
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  • WEALTH INVESTING
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      Lock icon Self-awareness is power
      1093 30 / 31  - Self-awareness is powe r powerKnowing yourself, your goals, and errors is the first lesson in behavioural finance. By Genevieve Cua By Genevieve Cua gen@sph.com.sg BUY-AND-HOLDinvestingcame in for a hammering with the crisis of 2008, as did diversification. Thanks to deep losses in the recent downturn, more advisers have begun to
      STOCK.XCHNG; Source: Fisher & Statman (2006)  -  1,093 words
    • BROKERS' TAKE
      • Article
        Lock icon Parkway Life Reit
        224 30 / 31 Outperform CIMB Oct 1 Close: $1.62 MAINTAIN Outperform and target price of $1.91: We went with PLife’s management on a tour to four of the Reit’s nursing homes in Japan, three in Fukuoka managed by the Uchiyama Group, and one in Yokohama managed by Benesse. We were
        224 words
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        Lock icon Genting Singapore
        309 30 / 31 Buy OCBC Investment Research Oct 1 Close: $2.00 LIKELY upbeat showing for rest of 2010: Genting Singapore is likely to enjoy a pretty upbeat performance in Q3 FY10, buoyed by the encouraging tourist arrival numbers, which set a new record of 1.1 million visitors in July (+24 per
        309 words
      • Article
        Lock icon OKP Holdings
        290 30 / 31  -  Buy DBS Vickers Oct 1 Close: $0.54 Compiled by Lynette Khoo RECORD high orderbooks provide comfort: OKP is a civil works contractor focused on the road infrastructure market in Singapore and has the capability and expertise to carry out large infrastructure projects. About 20-25 per cent of its
        290 words
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      Lock icon Fidelity loses top mutual-fund spot to Vanguard
      1670 32 Bloomberg Boston JOHN Bogle has preached the virtues of low-cost indexing since the 1970s to investors willing to pay higher fees for big-name money managers at firms such as Fidelity Investments. His persistence, which earned him the nickname “Saint Jack”, paid off this
      Bloomberg; BLOOMBERG  -  1,670 words
    • Article, Illustration
      Lock icon Figuring out the Net generation
      1061 33  -  This generation no longer feels that they have to get everything they need from the corporate world show me the money Teh Hooi Ling hooiling@sph.com.sg Senior correspondent The writer is a CFA charterholder IHAVE a friend who runs her own business and she is constantly
      AFP  -  1,061 words
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      26 36 Published and printed by Singapore Press Holdings Limited. Co. Regn. No. *****2868E. A member of Audit Bureau of Circulations Singapore. Customer Service (Circulation): 6388-3838, circs@sph.com.sg, Fax
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      Lock icon Page 1 Advertisements Column 1
      55 1 LivingTHEBUSINESSTIMESWEEKEND|OCTOBER2-*****BTTHE BUSINESS TIMES WEEKEND OCTOBER 2-3 2010 KL HAWKER GUIDE Street sensations L4-5 A CAUSE FOR DESIGNERS Forward thinking initiatives are changing the design landscape TRAVEL Thrill views L8-9 STYLE A whiff of luxury L12-13 PERSONAL SPACE Maxing out space L10-11 ENTERTAINING Tirelessly sizzling L7 PHOTO: YEN MENG JIIN MOTORING
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  • BT Living
    • DESIGN
      • Article, Illustration
        Lock icon A cause for designers
        1996 2 / 3  -  Up until recently, the local arts and design industry was creative but not cohesive. That, however, is about to change. BT Weekend speaks to several individuals who are altering the landscape with their forward-thinking initiatives. By Audrey Phoon By Audrey Phoon aphoon@sph.com.sg Baby Hee, Goh Su
        YEN MENG JIIN  -  1,996 words
    • KL HAWKER GUIDE
      • Article, Illustration
        Lock icon Street sensations
        2076 4 / 5  -  Tucked along the streets of Penang are delights just waiting to be discovered by discerning chowhounds. By Joyceline Tully By Joyceline Tully btnews@sph.com.sg IT’S generally agreed that some of the best street food in Malaysia is to be had in Penang. Think about food streets such as Gurney
        2,076 words
    • GADGETS
      • Article, Illustration
        Lock icon Cooking up a high-tech storm
        1015 6  -  Replace bulky recipe books and dog-eared notebooks with an iPad. By Christopher Lim By Christopher Lim limchris@sph.com.sg ALTHOUGHtraditionalprint-ed recipe books have been a mainstay of kitchens for decades, Apple’s iPad tablet provides enough benefits to justify pride of place on your counter top. Printed books
        1,015 words
    • ENTERTAINING
      • Article, Illustration
        Lock icon Tirelessly sizzling
        1015 7  -  Jean-Georges Vongerichten’s Asian-inspired dishes caused a near free-for-all during the F1 weekend. By Jaime Ee guest chef By Jaime Ee jaime@sph.com.sg EVEN as the likes of Alonso, Hamilton and Button burned up the track just outside the exclusive Paddock Club over the last Formula One weekend, there was
        1,015 words
    • TRAVEL
      • THRILL VIEWS
        • Article
          Lock icon Swissotel The Stamford
          536 8 / 9  -  Formula One may be over for Singapore, but there’s always next year’s race to look forward to. If you’re planning to avoid the crowds and create your own trackside experience, we check out some of the best hotel views in town By Jaime Ee 2 Stamford Road
          536 words
        • Article, Illustration
          Lock icon Marina Mandarin
          385 8 / 9  -  By Christopher Lim limchris@sph.com.sg Raffles Boulevard, Marina Square Singapore *****4 6845 1000 A GREAT view of the race circuit is easily thebest thing about the Marina Madarin’s Formula One packages, which range from $600++ for the Deluxe Room to $3,500++ for the Presidential Suite. That’s a premium of
          AP  -  385 words
        • Article, Illustration
          Lock icon Mandarin Oriental, Singapore
          514 8 / 9  -  By Audrey Phoon aphoon@sph.com.sg Marina Square, 5 Raffles Avenue ?6338 0066 www.mandarinoriental.com/singapore THE cool Mandarin Oriental lobby is abuzz when we walk in on Saturday afternoon, before the qualifiers start. There’s a lot of congenial back-slapping and lively conversation going on among impor-tant-looking people with F1 lanyards
          514 words
        • Article
          Lock icon The Fullerton Hotel Singapore
          263 8 / 9  -  By Jaime Ee jaime@sph.com.sg 1 Fullerton Square ?6733 8388 THERE are two ways you can watch the raceatTheFullerton– oneistogetatrackside room ($2500 per night) and watch the cars racing down the clear straight stretch near Anderson Bridge in full privacy; while the other is to get a
          263 words
      • Article
        Lock icon wine & dine with BTWeekend
        500 8 / 9 wine dine with BTWeekend Pine Court Chinese Restaurant Level 35, Orchard Wing Mandarin Orchard Singapore 333 Orchard Road ?6831-6288 Ascend 35 stories of the Orchard Wing and arrive in style at Pine Court Chinese Restaurant, the home of authentic Cantonese cuisine. Delight in traditional signature dishes such as Classic Peking
        500 words
    • HOME & GARDEN
      • Article, Illustration
        Lock icon MAXING OUT SPACE
        1058 10 / 11  -  In addition to the various internal and external viewpoints in the Lee home, there is plenty of natural light and colour throughout. By Geoffrey Eu personal space By Geoffrey Eu btnews@sph.com.sg There are a few notable aspects about the home that Kelvin and Esther Lee built, at
        1,058 words
    • STYLE
      • Article, Illustration
        Lock icon A whiff of luxury
        1166 12 / 13  -  within the luxur As competition within the luxury fragrance industry heats up, retailers are offering unique services that are definitely not to be sniffed at. By Melissa Lwee By Melissa Lwee mellwee@sph.com.sg EVEN for a luxury house like Chanel, which counts the ubiquitous Chanel Nº 5,
        1,166 words
    • BT CORPORATE GOLF LEAGUE 2010
      • Article, Illustration
        Lock icon Big Fish in strong position
        663 16 / 17  -  Team is 9 points ahead of second-placed OAAG after the fifth round at Sentosa Golf Club’s Tanjong course. By Justine Moss By Justine Moss AFTER a stellar fifth round on Sentosa Golf Club’s Tanjong course in The Business Times Corporate Golf League, Big Fish Innovative
        663 words
      • Article, Illustration
        Lock icon Rajah & Tann aims to beat other firm
        655 16 / 17  - Rajah Tann aims to beat other firm By Justine Moss btnews@sph.com.sg THE team at Rajah Tann (R&T) considered asking clients to join them in the inaugural Business Times Corporate Golf League but eventually decided against it. “We thought we should get to know some of our own colleagues better outside
        655 words
      • Article, Illustration
        Lock icon DBS Vickers making new friends
        485 16 / 17  -  By Justine Moss THE team from DBS Vickers was one of the first to throw their support behind the inaugural Business Times Corporate Golf League which teed off last month. Said Edmund Lee, DBS Vickers’s CEO: “We thought that it would be a good platform
        485 words
    • SPORT
      • Article, Illustration
        Lock icon The unpredictable but Beautiful Game
        579 18  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor FOOTBALL can be a funny old sport. Just ask Barcelona, the all-conquering team of superstar players that have won just about every major trophy there is on offer. Yet, the Spanish giants have come up short
        REUTERS  -  579 words
      • Article, Illustration
        Lock icon Ill-preparedness may spell end of Games
        527 18  -  game on with steve dawson Steve Dawson AS NEW DELHI welcomes 7,000 athletes, even more spectators and hordes of media looking for fault, scandal and sensation at the Commonwealth Games, the Indian capital’s readiness seems to be at the bare minimum of acceptability. While
        527 words
    • MOTORING
      • Article, Illustration
        Lock icon REAR-WHEEL X-OVER
        566 19  -  The most interesting feature about the BMW X1 has to be its driven rear axle, which basically implies a lower list price and higher fuel efficiency. By Samuel Ee By Samuel Ee samuelee@sph.com.sg IF YOU think the BMW X1 looks like it’s about the same size as the
        566 words
      • Article, Illustration
        Lock icon Built-to-order luxury
        453 20  -  The second generation Volkswagen Phaeton limousine uses the same basic platform but with numerous improvements. By Samuel Ee The most interesting aspect of the new Phaeton is that each car is customised and built according to its owner’s exact choice of features and options. By Samuel Ee samuelee@sph.com.sg
        453 words
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  • Page 14 / 15 Advertisements
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      769 14 / 15 BT’s 34th Anniversary F&B Reader’s Promotion It’s our 34th anniversary (Oct 1, 2010) and BT readers can expect a good offer at any of the following F&B outlets from today through the week (Oct 2 to 10). Simply mention “BT 34” and you will qualify for the offers stated below
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      Lock icon Page 14 / 15 Advertisements Column 2
      922 14 / 15 KUMOJapaneseKaiseki Restaurant Frost Bites SaveursdeFrance ICON VILLAGE 12 Gopeng Street Singapore *****7 Truly out to pamper, this urban oasis situated near Tanjong Pagar MRT Station is the place to go to if rejuvenation is what you need.Forget yourworrieswith aquickmanicure, facial and massage or indulge in the many eateries with its
      922 words
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