The Business Times, 8 January 2011

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Total Pages: 50
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    18 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg JANUARY 8 -9, 2011 S$1.00 MICA(P) 139/08/2010 Sfrl A SINGAPORE PRESS HOLDINGS PUBLICATION
    18 words
  • Article
    Lock icon Kim Eng shares hit all-time high
    41 1 stock watch THE counter soars to $3.06 following a $1.79 billion takeover offer from Maybank, but ends just 12.6 per cent higher for the day at $3.04, up 34 cents from its previous close. 2
    41 words
  • Article
    Lock icon Drop in joblessness seen as slow
    39 1 us outlook FED chairman Ben Bernanke says that even with a pick-up in US growth this year, ‘it could take four to five more years for the job market to normalise fully’. 3
    39 words
  • Article
    Lock icon Obama names new chief of staff
    34 1 major post WILLIAM Daley, a JPMorgan Chase executive and former commerce secretary, has ‘a deep understanding of how jobs are created and how to grow the economy’. 5
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  • Article
    Lock icon Prosecutor wants heavy sentence
    31 1 sla case ACCUSED Ho Yen Teck, a former swimming instructor, is described as being pivotal in the perpetuation of an elaborate fraud against the state agency.| 5
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  • Article
    Lock icon Thinner new-car goose lays fatter COE eggs
    599 1  -  New car registrations in 2010 fell 39% but revenue from COEs grew 73%, calculations show By Samuel Ee samuelee@sph.com.sg Singapore THE new car market turned out to be a strange animal last year: the skinnier it grew, the more it gave back. A
    599 words
  • Article, Illustration
    Lock icon NTUC Income closes in on stake in former Hitachi Tower
    605 1  -  By Kalpana Rashiwala kalpana@sph.com.sg Singapore NTUC Income Insurance Cooperative is said to be nearing a deal to take a 49 per cent equity stake in 16 Collyer Quay, formerly known as Hitachi Tower, under a refinancing exercise for the 999-year
    YEN MENG JIIN  -  605 words
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  • TOP STORIES
    • Article, Illustration
      Lock icon Kim Eng shares fly high on Maybank buyout offer
      595 2  -  Excitement spills over to Thai unit on speculation that Maybank may be eyeing it too By Joyce Hooi j oyce h @s p h .co m .sg Singapore INVESTORS piled into Kim Eng Holdings stock yesterday, driving its share price 13
      Source: Bloomberg  -  595 words
    • Article
      Lock icon Unemployment at 19-month low but job growth disappoints
      336 2 latest us data AP Washington THE US unemployment rate fell to 9.4 per cent last month, its lowest level in 19 months. That was because more Americans found jobs, but also because some people gave up on their job searches. The Labor
      AP  -  336 words
    • Article
      Lock icon MARKETS
      140 2 H STI 3,261.35 (-18.35) H STI FUTURES 3,261 (-19) H SIMSCI 386.06 (-0.54) H SIMSCI FUTURES 386.30 (-1.20) STOCKS Friday Change KL COMP 1,572.21 +3.84 NIKKEI 225 10,541.04 +11.28 HANG SENG 23,686.63 -99.67 SET 1,036.45 -14.53 JAKARTA 3,631.45 -104.80 MANILA 4,202.52 -14.73 KOSPI 2,086.20 +8.59 SHENZHEN B 835.55 +1.63
      140 words
    • Article
      Lock icon Bernanke sees slow drop in US jobless rate
      587 3 He says that it may take 4-5 more years for the job market to normalise fully and calls for a plan to reduce deficit Bloomberg Washington US Federal Reserve chairman Ben Bernanke said that the decline in the unemployment rate is likely
      Bloomberg  -  587 words
    • Article
      Lock icon President marks NTUC's 50th birthday with book
      495 3  -  By Chuang Peck Ming peckming@sph.com.sg Singapore NOT many people get a birthday present from the President. The National Trades Union Congress, which turned 50 this year, will get one. President S R Nathan, who wrote Why Am I Here? last year, his first
      495 words
    • Article, Illustration
      Lock icon From graphic design to riding the waves
      775 4  -  Switching job for hobby and vice versa, Lynnette Leong is now Singapore’s only female Yachtmaster Instructor By Lynn Kan lynnkan@sph.com.sg Singapore LYNNETTE Leong’s stomping ground is the Marina at Keppel Bay, her skin darkened by the many hours she stays outdoors in the
      YEN MENG JIIN  -  775 words
    • Article, Illustration
      Lock icon US ex-commerce secretary is new chief of staff
      857 5 William Daley is also former JPMorgan exec Bloomberg Washington US President Barack Obama has named William Daley, a JPMorgan Chase Co executive and former commerce secretary, as his chief of staff, putting a Washington veteran with strong ties to business into a
      Bloomberg; AFP  -  857 words
    • Article
      Lock icon Prosecutor in SLA case calls for deterrent sentence
      650 5  -  By Grace Leong gleong@sph.com.sg Singapore THE Attorney-General’s Chambers yesterday called for a deterrent sentence to be imposed on Ho Yen Teck, a former swimming instructor who played a pivotal role in perpetuating an elaborate fraud against the Singapore Land Authority (SLA). Ho,
      650 words
    • Article, Illustration
      Lock icon Now hiring ... just about anybody
      1183 6  - Now hiring just about anybody The most wanted workers are teachers, security officers, waiters, retail assistants By Chuang Peck Ming peckming@sph.com.sg Singapore TALENT is always in short supply and high demand in good times and bad. But as the economy bounces back from the worst recession in memory, the jobs
      1,183 words
    • Article
      Lock icon French are the world champions of pessimism, says survey
      384 6 AFP Paris THE French live in one of the richest and safest countries in the world, yet they are global champions of pessimism, fearful of the future and longing for the past, according to a BVA-Gallup survey published this week. “There
      AFP  -  384 words
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      Lock icon Page 2 Advertisements Column 1
      58 2 CONTENTS NEWS Top Stories 2-6 Week In Review 7 Raffles Conversation 8-9 Companies 10-13 From The Desk Of 14 Singapore 15-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-32 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Dining L2-5 Shopping L6-7 Health L8 Asian Masters L9-13
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      130 3 Ql| L iW\ M SWJ in\ <- -T# v x Piw fa B; 1 1 Y x\ >f o// r iASS i f <1. ..hSK > AT SWISS-GARDEN, BUSINESS AND PLEASURE DO IN FACT, MIX PRETTY WELL. MEETINGS SEMINARS TEAM BUILDINGS GOLFING AT SWISS-GARDEN COMPLIMENTARY ROUND OF GOLF AT SWISS-GARDEN
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK Jan 3-7, 2011
      • Article
        Lock icon SingTel steps up its game to make consumers see 'light'
        51 7 SINGAPORE Telecommunications plans to have consumers playing the latest Xbox and PlayStation titles right out of its latest set-top box. This quarter, Singapore’s largest operator will introduce a new video-game rental service in a bid to jumpstart ultra high-speed broadband
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      • Article
        Lock icon Gold – more than a twinkle in the eye
        81 7 Gold more than a twinkle in the eye ANALYSTS believe that gold will shine even brighter this year, as the flight to safe-haven assets continues amid the weakening US dollar and euro, as well as rising demand in markets such as China. On the last day of trade for 2010,
        81 words
      • Article
        Lock icon Luxury home prices defy market lethargy
        75 7 A SURGE of interest in high-end and luxury homes has pushed prices in the segment, which has underperformed the rest of the market over the last two years, to a fresh all-time high in Q4 2010. But in the rest of the market, prices
        75 words
      • Article
        Lock icon Singapore Ship Sale form ready to set sail
        58 7 THE Singapore Maritime Foundation is launching the highly anticipated Singapore Ship Sale Form, which will be the backbone of used-ship sale and purchase deals in the region if it catches on. The SSF makes Singapore the default seat of arbitration for disputes,
        58 words
      • Article, Illustration
        Lock icon Bollywood magic sees $1,000 tickets vanish
        84 7 THE lure of Bollywood has caused some of the most expensive tickets ever sold in Singapore to get snapped up. Almost 5,000 tickets to the Zee Cine Awards, Bollywood’s equivalent of the Academy Awards, to be held at Marina Bay Sands on Jan 14,
        AFP  -  84 words
      • Article
        Lock icon CPIB looks into Changi Motorsports Hub deal
        73 7 THE Corrupt Practices Investigation Bureau is looking into the tender awarded by the Singapore Sports Council to build the upcoming $380 million Changi Motorsports Hub, BT understands. The probe relates to the award of the tender for the hub to the SG Changi
        73 words
      • Article
        Lock icon Taxi companies prop up small car COE premium
        63 7 THE COE premium for small cars fell in Wednesday’s bidding exercise the first of the new year and could have been as low as $1 if not for the strong participation by some taxi companies, say some distributors. A certificate of entitle-
        63 words
      • Article
        Lock icon Low interest rates, high staff costs may dent bank profits
        69 7 BANKS here are likely to do well this year as the economy continues to grow strongly, but profits could be squeezed by low interest rates, heightened competition and rising staff costs. Their shares, however, are looking cheap on commonly used
        69 words
      • Article
        Lock icon Maybank moves in on Kim Eng at $3.10 a share
        70 7 MALAYAN Banking Bhd has signalled its intention to become one of the biggest brokers in the region. On Thursday, it proposed to acquire all of Kim Eng Holdings Ltd for $1.79 billion or $3.10 a share in a bid to
        70 words
      • Article
        Lock icon Rivals seek a slice of missing Apple's pie
        68 7 THE electronics extravaganza that often sets the tone for the rest of the year has kicked off without the world’shottest deviceand the trailblazing company that makes it. But speaking around the elephant whose absence filled the room, other technology giants at the
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    • Article
      Lock icon NEXT WEEK Jan 10-14,2011
      90 7 US DATA Jan 12 Dec import/export prices Beige Book report Dec Treasury budget Jan 13 Dec international trade Nov producer price index Jan 14 Dec consumer price index Dec retail sales Dec industrial production Jan consumer sentiment Nov business inventories SINGAPORE DATA Jan 14 Retail sales
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  • Page 7 Miscellaneous
    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 1
      322 7 CRYPTIC CROSSWORD Across 1 Noted part-player on stage (5,6) 8 A tape recording? (11) 11 He fell out of sympathy with his partner (4) 12 Go down with a bristle (4) 13 Dire disaster ---trapped by high-explosive missile (7) 15 Money that’s not well-earned (4,3) 16 Sounds of relief of
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    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 2
      9 7 SATURDAY with Ludwig ‘You insisted on a family restaurant...’
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Batting for Britain
      2270 8/9  -  Madden, o Paul Madden, outgoing British High Commissioner to Singapore reflects on his seven years as an envoy and the changes he has seen. By Vikram Khanna vikram@sph.com.sg ‘ILIKE to tell people: I live in a country where half the cabinet went to the same university as
      ARTHUR LEE  -  2,270 words
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  • COMPANIES
    • Article
      Lock icon Sino-Environment unveils rescue scheme
      360 10  -  Plan is for the transfer of its listing status to the Singapore subsidiary of HK-based AVIC Kairong By Winston Chai winstonc@sph.com.sg Singapore EMBATTLED Sino-Environment has put in place a new plan which could clear itself of all outstanding debt and allow its local listing to be
      360 words
    • Article, Illustration
      Lock icon Taiwan bourse expecting 20 TDR listings this year
      272 10 Reuters Taipei TAIWAN’S stock exchange expects the number of companies issuing Taiwan depository receipts (TDRs) to increase to 20 this year from 12 in 2010, drawn by the island’s better trade ties with China. The Taiwan bourse is looking to position itself
      Reuters; BLOOMBERG  -  272 words
    • Article, Illustration
      Lock icon CAD completes probe, no action to be taken against Aspial CEO
      407 10  -  By Uma Shankari shankari@sph.com.sg Singapore ASPIAL Corporation’s chief executive Koh Wee Seng has informed the company that investigations by the Commercial Affairs Department (CAD) against him, which were launched in December 2009, have concluded and that CAD will take
      407 words
    • Article
      Lock icon CNA gets overwhelming support for sale of Standard Water stake
      489 11  -  Unhappy minority shareholders fail to get their way as resolution receives 88.83% vote egm watch| By Felda Chay feldac@sph.com.sg Singapore UNHAPPY minority shareholders failed to get their way at CNA Group’s extraordinary general meeting (EGM) yesterday as the proposed sale
      489 words
    • Article, Illustration
      Lock icon A clearer picture with Creative's new videoconferencing system
      409 11  -  By Winston Chai winstonc@sph.com.sg Singapore CREATIVE Technology has made it two in a row as far as set-top boxes go with a new gizmo which promises to turn any high-definition (HD) television into a razor-sharp videoconferencing system. The latest update to the
      409 words
    • Article
      Lock icon Hu An set to gain from rural power grid devt
      174 11 Singapore WIRE and cable manufacturer Hu An Cable Holdings said yesterday that it is poised to benefit from China investing 200 billion yuan (S$39 billion) in its rural power grids from 2010 to 2012. The group said in an update
      174 words
    • Article
      Lock icon Shanghai Asia urged to provide more clarity
      802 12  -  letter to the editor| Lim Yew Hang Richard LAST November, I expressed concern about the proposal by Shanghai Asia Holdings (SAH) to sell the aluminium foil business and the cigarette box printing business in a hurry and at a depressed price (“Divestment of
      802 words
    • Article
      Lock icon Hedge funds up 1.7 per cent in December, hitting 2-year peak
      490 12 Bloomberg New York HEDGE funds returned 1.7 per cent in December, rebounding from a November loss and ending 2010 at the highest level in more than two years as global equity markets rallied, according to data compiled by Bloomberg.
      Bloomberg  -  490 words
    • Article, Illustration
      Lock icon A 2.2 per cent rise for the year so far
      636 13  -  stocks| R Sivanithy sivan@sph.com.sg Senior correspondent FOURconsecutivedays of rises that put 90 points on the Straits Times Index, followed by a loss of 18.35 points yesterday at 3,261.35, which means the net gain for the year so far is 71
      636 words
    • Business briefing
      • Article
        Lock icon Interra to give up Thai oil exploration concession rights
        139 13 INTERRA Resources said that it is in the process of relinquishing its concession rights in the onshore petroleum exploration block, Block L9/48, in Thailand. The company has submitted a letter to the Department of Mineral Fuels of Thailand (DMF) to inform
        139 words
      • Article
        Lock icon Brothers (Hldgs) disposes of 16.3% stake in Oakwell Engrg
        99 13 BROTHERS (Holdings) announced that it has disposed of its 108,695,000 shares representing a 16.265 per cent stake in Oakwell Engineering to unrelated parties at 9 cents each for a total consideration of $9.78 million. It said the disposal will free up
        99 words
      • Article
        Lock icon China Taisan outlines capacity expansion plan
        106 13 CHINA Taisan has clarified that under its expansion plan, the estimated additional production capacity of the group will be ramped up by 3,500 tonnes in the second quarter. It also stated the management has embarked on an expansion plan by building a new factory
        106 words
    • Article
      Lock icon TOP 20 ACTIVES
      110 13 VOL CLOSE BerlianLaju 176,580 6 0.5 9.1 OakwellEngg 135,775 8.5 0.5 6.3 UniFiber 89,016 5 0.5 11.1 LeaderEnv 87,866 30.5 2.0 7.0 GentingSP 87,694 222 0.0 0.0 Stratech 56,742 4 0.5 14.3 GMGGlobal 52,002 30 0.5 1.7 Viking 51,833 21.5 1.5 7.5 XinRen 48,532 55.5 1.0 1.8
      110 words
    • Article
      Lock icon STI STOCKS
      109 13 Stock name Close Change CapMallsAsia 1.890 -0.010 CapitaLand 3.880 -0.020 CapitaMall 1.990 +0.010 CityDev 12.740 -0.040 ComfortDelGro 1.590 -0.010 DBS Grp 14.900 +0.040 F&N 6.510 -0.010 Genting SP 2.220 Golden Agri 0.800 HK Land 7.240 -0.140 JMH 45.000 -2.500 JSH 27.660 -1.000 Jardine C&C 36.260 -1.140 Keppel Corp
      109 words
    • Article
      Lock icon TOP GAINERS
      56 13 BY CENTS CLOSE UP Pru 500US$ 1060 46.7 3.5 DairyFarm 980 41.5 3.4 Kim Eng Hldgs 304 34.0 12.6 OCBC Bk 4.5%NCPS 100 ***** 20.0 0.2 UOB 1944 20.0 1.0 GentingSMBLeCW*****2 61 17.0 38.6 DBXT S&P Short 10US$ 4466 15.6 0.3 Keppel Corp 1160 10.0 0.9 SIA 1534
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    • Article
      Lock icon TOP LOSERS
      59 13 BY CENTS CLOSEDOWN DBXT Nifty 10US$ ***** -356.4 -2.0 JMH 4500 -324.0 -5.3 GLD 10US$ ***** -165.9 -1.0 DBXT AUDMM 5SG$ ***** -143.0 -0.6 DBXT SPASX200 10US$ 3342 -134.8 -3.0 JSH 2766 -129.6 -3.5 Jardine C&C 3626 -114.0 -3.0 DBXT MSEurope 10US$ 4465 -94.6 -1.6 DBXT MSINDO 10us$
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      635 11 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF HONG GUAN MOTOR PTE LTD Company Registration No. *****1315W (In Members’ Voluntary Liquidation) At an Extraordinary General Meeting of the Members of the Company held at 173 Bencoolen Street, Singapore *****2 on 5 January 2011, the
      635 words
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      341 13 MAT3 NOTICES IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF SCHRODER CAPITAL INVESTMENTS (SINGAPORE) PTE. LTD. (IN MEMBER’S VOLUNTARY LIQUIDATION) (COMPANY’S REGISTRATION NO. *****0284M) NOTICE OF FINAL MEETING Notice is hereby given that pursuant to Section 308 of the Companies Act, Chapter 50, the
      341 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Baseball tip on how firms can score big
      862 14  -  You need offence, you need defence and you need to get teams to work together and motivate their people to remain imaginative. Innovation will follow from the desk of Narihiko Uemura Managing Director Sony Electronics Asia Pacific Sony Electronics (Singapore) ‘NECESSITY is
      862 words
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  • SINGAPORE
    • Article, Illustration
      Lock icon More upgrades in store at Aljunied GRC
      648 15  -  Residents can expect better transport access, improved Internet connectivity By Felda Chay feldac@sph.com.sg FRESH from its $160 million spruce-up that spanned five years, Aljunied GRC has unveiled another five-year proposal that will see even more upgrades in the constituency. The five-member group representation
      ALJUNIED TOWN COUNCIL  -  648 words
    • Article
      Lock icon Coherent Inc buys Singapore's Hypertronics
      215 15  -  US firm aims to grow laser business in booming Asian market By Linette Lim llinette@sph.com.sg NASDAQ-listed Coherent Inc has acquired Singapore laser manufacturer Hypertronics in an all-cash transaction. Coherent itself is the world’s largest laser manufacturer. The California-based company declined to disclose Hypertronics’ price tag,
      215 words
    • Article
      Lock icon $150,000 grant for S'pore firms at Tianjin Eco-city
      363 16  -  By Linette Lim llinette@sph.com.sg SINGAPORE-BASED companies setting up operations in SinoSingapore Tianjin Eco-city can apply for a grant of up to $150,000. This was announced at a seminar yesterday by Senior Minister of State for National Development and Education Grace Fu as
      363 words
    • Article, Illustration
      Lock icon That iPhone furore? Just a false alarm
      576 16  -  saturday soapbox| Lee U-Wen leeuwen@sph.com.sg Acting Deputy Foreign Editor STOP the presses! There’s a story breaking as we speak! This is earth-shattering stuff! It’s about oh for crying out loud, it’s just an alarm clock function on a mobile phone that failed to
      576 words
    • Article
      Lock icon PSA group container volume up 14.4%
      468 16  -  Bulk of the increase from overseas, rising 17.8% to 37.44m TEUs By Joyce Hooi joyceh@sph.com.sg PSA INTERNATIONAL Pte Ltd made a convincing bounceback from a dismal 2009, with a 14.4 per cent increase in the group’s container throughput to 65.12 million twenty-foot equivalent units
      468 words
    • Article, Illustration
      Lock icon Setting the tone for the new legal year
      599 17  -  More transparent fees, fighting financial crimes, managing conveyancing monies By Grace Leong gleong@sph.com.sg MAKING transparent the range of legal fees charged for the more standard types of work. Combating sophisticated financial crimes. Urgency in legislating security measures to prevent lawyers from absconding
      LAU FOOK KONG/THE STRAITS TIMES  -  599 words
    • Article
      Lock icon Bishan residential site up for tender
      323 17  -  By Emilyn Yap emilyny@sph.com.sg THE Housing Development Board will be launching a 99-year leasehold residential site at Bishan Street 14 for tender in about two weeks’ time. Consultants expect to see as many as eight bidders for the plot, which is located near Bishan
      323 words
    • Article
      Lock icon HSBC rolls out renminbi deposit account
      591 18  -  DBS says that it will also offer renminbi deposit services to retail customers here soon By Siow Li Sen lisen@sph.com.sg THE renminbi, arguably the most talked about currency in the world, is now available here courtesy of HSBC Singapore. Foreign exchange punters can, from
      591 words
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      Lock icon Page 18 Advertisements Column 1
      207 18 The Business Times Weekend Treasures Dinner Contest gl&NER F0i§ ''WORTH $53§ Available every Saturday, The Business Times Weekend recharges your I Ik H mind with insightful news while its "Living" section refreshes your life with gourmet dining and other finest pursuits. To usher in the new year, we're treating 8
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  • WORLD
    • Article
      Lock icon Sarkozy aims to blunt dollar's dominance
      431 19 But some predict his visit to the White House next week might yield disappointment as Obama may not budge Bloomberg Paris FRENCH President Nicolas Sarkozy brings his campaign to blunt the dollar’s dominance as a reserve currency to the White House next week. The
      Bloomberg  -  431 words
    • Article
      Lock icon Steve Jobs gets his usual US$1 salary from Apple
      369 19 AP New York APPLE Inc CEO Steve Jobs’ compensation package remained the usual US$1 in fiscal 2010, but the value of the shares he owns has skyrocketed amid the company’s ongoing success with the introduction of shiny new gadgets many people
      AP  -  369 words
    • Article
      Lock icon Mercedes' 2010 sales up 15%, defending lead over Audi
      290 19 Bloomberg Berlin DAIMLER AG’s Mercedes-Benz, the world’s second-largest makers of luxury vehicles, posted a 15 per cent sales gain last year, boosted by the high-end E- and S-Class models, to defend its lead over Volkswagen AG’s Audi. The brand’s full-year deliveries
      Bloomberg  -  290 words
    • Article, Illustration
      Lock icon India talks to Pakistan over onion imports
      210 19 Reuters AFP New Delhi INDIA is trying to persuade Pakistan to resume export of onions, the Indian foreign minister said yesterday, a shortage of which has come to symbolise high food prices in Asia’s third-largest economy. “We have initiated talks and before not
      Reuters; AFP  -  210 words
    • Article
      Lock icon Commission of inquiry to probe Teoh's case
      563 20  -  M’sian PM Najib says panel will determine if dead political aide’s human rights were violated while in anti-corruption commission’s custody By S Jayasankaran btworld@sph.com.sg Kuala Lumpur PRIME Minister Najib Razak yesterday announced the formation of a Royal Commission of Inquiry (RCI) into whether
      563 words
    • Article
      Lock icon Toyota and BP join list of 'most hated US firms of 2010'
      351 20 Included among 15 most scorned companies are airlines, banks, telcos AFP Washington TOYOTA and BP have joined a familiar cast of airlines, banks and telecommunications providers as the most loathed companies in the United States, according to a
      AFP  -  351 words
    • Article
      Lock icon UK banks required to give a month's notice on capital raising
      272 20 Reuters London BANKS in Britain will have to give their supervisor at least a month’s notice if they want to raise fresh capital for inclusion in mandatory buffers, the country’s financial watchdog said on Thursday. “Under the proposed change,
      Reuters  -  272 words
    • Article
      Lock icon US to slash defence spending by US$78b
      369 21 Move will take place over 5 years and includes the reduction of troops by 47,000 Reuters Washington THE United States plans to cut US$78 billion in defence spending over five years, including a reduction of up to 47,000 troops, in a politically contentious
      Reuters  -  369 words
    • Article, Illustration
      Lock icon China central bank makes tackling inflation a priority
      373 21 AP Beijing CHINA’s central bank says that fighting inflation will receive higher priority this year, raising the possibility of more rate hikes at a time when other major economies are trying to boost growth. The announcement on Thursday follows repeated pledges by
      AP; REUTERS  -  373 words
    • Article
      Lock icon Gold may decline, survey finds
      216 21 Bloomberg London GOLD may decline as signs that the US economy is recovering and a strengthening dollar curb investment demand for the metal, a survey found. Eleven of 20 traders, investors and analysts surveyed by Bloomberg, or 55 per cent, said the metal will fall
      Bloomberg  -  216 words
    • Article
      Lock icon China state firm to invest US$2b in North Korea
      284 21 AFP Seoul A CHINESE state company plans to inject about US$2 billion into a project to build up a North Korean free trade zone into a regional export base, a report in South Korea said yesterday. China’s Shangdi Guanqun Investment, which
      AFP  -  284 words
    • Article
      Lock icon US retailers let down by poor sales in Dec
      483 22 Some blame it on the blizzard while others cite frugality catching on Reuters New York ANYONE thinking Americans might be back to their free-spen-ding ways got a reality check on Thursday as many mainstream retailers reported disappointing December sales. While some
      Reuters  -  483 words
    • Article
      Lock icon Emerging markets will surpass G-7 finances
      345 22 Bloomberg London THE Group of Seven economies will be surpassed in size by the largest emerging markets in just over two decades as the financial crisis accelerates the shift of power in the global economy, PricewaterhouseCoopers LLP said. China will overtake the US as
      Bloomberg  -  345 words
    • Article, Illustration
      Lock icon China preparing new rare earths standards
      289 22 AP Beijing CHINA is preparing to tighten environmental standards for rare earths mining in a move that might raise prices, a state newspaper said yesterday, amid concern about Beijing’s decision to reduce exports of the exotic minerals needed by makers of high-tech products. The
      AP; REUTERS  -  289 words
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  • Page 22 Advertisements
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      Lock icon Page 22 Advertisements Column 1
      25 22 Likely to exceed 40,000 Tenancy agreements for private homes hit 11-year high in 2010 去料创 To subscribe, call 6388-3838 or go to sphsubscription.com.sg
      25 words
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  • SGX
    • Article
      Lock icon SGX CATALIST
      11048 26 Transaction date: Jan 7 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 14.5 3148 8Telecom 19.5 -0.5 8512 21 19.5 19.5 20 1.7 9.3 6.3 93.4 12 4.5 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 4 9 4 0 0 0 4 9 4 Manufacturing 52 69 77 4 6 15 56 75 92 Commerce 14 27 33 9 2 5 23 29 38 Tpt/Stor/Comms 12 18 11
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 37,193 37,193 94,202 94,202 Manufacturing 535,377 40,505 575,882 374,860 1,891 376,751 Commerce 90,490 235,394 325,884 146,783 25,145 171,929 Tpt/Stor/Comms 262,923 1,468 264,391 166,156 319 166,475 Finance 90,451 90,451 441,423 441,423 Construction 141,105 14,043 155,148 22,044
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      836 26 For week beginning Jan 3 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) MTQ Corp Ltd 6-Jan-11 Kuah Kok Kim Buy 550 0.83 ***** 25.68 ***** 26.30 IDT Hldgs (S)
      836 words
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  • MARKETS
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      118 27 Jan 07 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.33 1.255 Can dollar 1.324 1.274 Euro 1.718 1.652 Sterling pound 2.042 1.964 NZ dollar 1.009 0.961 US dollar 1.316 1.266 Local dollars to 100 units of foreign currency: Currencies Sell
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      Lock icon STOCK MARKETS
      97 27 YTD change: +2.24% 52-week high: 3,313.61 on Nov 9,2010 52-week low: 2,648.15 on May 25,2010 Source: Bloomberg Bloomberg YTD change: +2.83% 52-week high: 24,988.50 on Nov 8, 2010 52-week low: 18,971.50 on May 27, 2010 Source: Bloomberg Bloomberg YTD change: +1.04% 52-week high: 11,742.60 on Jan 5, 2011
      Source: Bloomberg  -  97 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 Jan 6 Index Change Change Change Change Change Change World Index Preliminary 909.0 -0.1 9.2 -0.2 1.2 -0.2 9.8 ‡EAFE Preliminary 814.9 0.3 3.8 0.1 -3.9 0.1 4.3 Europe Preliminary 1186.3 -0.1
      374 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 27 Jan 7 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2860 1.2874 0.9923 0.9926 Canadian dollar 1.2966 1.2986 1.0005 1.0012 Euro 1.6831 1.6847 1.2987 1.2989 NZ dollar 0.9816 0.9836 0.7574 0.7584 Sterling pound 2.0018 2.0039 1.5446 1.5450
      154 words
    • Article
      Lock icon LIFFE
      82 27 Jan 6 COCOA (£/tonne) Close Prev High/Low Mar 11 1924 1934 1954/1922 May 11 1933 1942 1959/1931 Jul 11 1947 1956 1972/1945 Sep 11 1955 1970 1976/1954 COFFEE (US$/tonne) Close Pev High/Low Jan 11 2026 1995 2034/1998 Mar 11 2029 2005 2044/1995 May 11 2047 2023 2062/2024 Jul 11
      82 words
    • Article
      Lock icon CHICAGO BOT
      93 27 Jan 6 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jan 11 1369.*****6.*****0.*****9.00 Mar 11 1378.*****3.*****8.*****6.00 May 11 1386.*****0.*****5.*****4.50 Jul 11 1389.*****2.*****7.*****7.75 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Jan 11 56.90 57.25 57.50 56.90 Mar 11 57.41 57.76 58.50 57.26 May 11 57.82 58.21 58.90
      93 words
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      Lock icon OIL
      75 27 Jan 6 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 94.95 -0.05 WTI (Near Mth) 88.28 -2.14 Dubai (1-Mth F) 91.66 2.20 Tapis blend 100.20 2.25 Minas 96.00 2.25 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 97.14 0.97 Jet Kerosene 107.43 2.79 US$/barrel Opec Oil Basket Price
      75 words
    • Article
      Lock icon LONDON METALS
      72 27 Jan 6 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2505.75 2452.75 3 months 2519.00 2464.00 Copper, Grade A (US$/tonne) Cash 9490.50 9587.00 3 months 9475.00 9550.00 Lead (US$/tonne) Cash 2683.00 2681.00 3 months 2656.00 2660.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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      Lock icon METALS
      67 27 Jan 7 GOLD (US$/oz) Jan 07 Jan 06 Hong Kong 1365.*****8.50 Jan 06 Jan 05 London 1368.*****1.20 1368.*****2.10 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 37.05 36.83 Source: UOB PLATINUM Lon (US$/oz) Jan 06 Close Previous PM Fix 1731.*****2.00 AM Fix 1735.*****5.00 Source: Thomson Reuters PLATINUM /NYMEX
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    • Article
      Lock icon PALM OIL
      67 27 Jan 7 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 11 3875 3800 3875 3800 427 2140 Feb 11 3850 3800 3854 3798 390 ***** Mar 11 3847 3763 3847 3759 ***** ***** Apr 11 3815 3735
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  • PERSPECTIVE
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      Lock icon Mixed verdict on Obama
      849 28 / 29  -  Does the US president deserve credit for preventing a depression or blame for hampering recovery? Robert Samuelson The Washington Post Writers Group Washington PRESIDENTObamamust take some comfortthat thelatest nomicforecastsarebecoming more optimistic about 2011 and beyond. The more upbeat of these (from, say, Richard Berner of Morgan
      The Washington Post Writers Group; AP  -  849 words
    • Article
      Lock icon The political power of social media
      837 28 / 29  -  By Clay Shirky IN January 2010, US Secretary of State Hillary Clinton outlined US support for free use of the Internet abroad, including the development of tools designed to reopen access to the Internet in countries that restrict it. This “instrumental” approach to Internet
      837 words
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Investors on a losing streak
        1465 30 / 31 With a boom in sales of structured notes last year, Wall Street promised extraordinary gains on reverse convertibles. Instead, the asset class failed on all counts Bloomberg New York BANKS sold more than US$6 billion of bonds linked to the performance of stocks last year,
        Bloomberg; BLOOMBERG  -  1,465 words
      • BROKERS' TAKE
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          Lock icon S-chips
          247 30 / 31 DMG Partners Securities Jan 7 S-CHIPS saw renewed investors’ interest that helped the sector outperform the Straits Times Index by 2 per cent over the past three months. Results from our latest stock-take suggest there are 150-plus S-chips, which are predominantly small-cap counters with an average market size of
          247 words
        • Article
          Lock icon Viking Offshore and Marine
          336 30 / 31  -  Buy OCBC Investment Research Jan 7 Close: $0.215 Compiled by Conrad Tan VIKING Offshore Marine recently disposed of a 35.14 per cent stake in Marine Accomm Pte Ltd (MAPL) for about $4.79 million, such that its interest in MAPL has decreased from 55 per cent to
          336 words
        • Article
          Lock icon Glossary
          117 30 / 31 Ebit earnings before interest and tax Ebitda–earningsbeforeinterest,tax,depreciation and amortisation EPS earnings per share FY fiscal/financial year H1, H2 first or second half m-o-m month on month NAV net asset value 9M nine months P/B price/book value (ratio) P/E price/earnings (ratio) Q1, Q2, Q3 first, second, or third quarter q-o-q
          117 words
      • Article, Illustration
        Lock icon A city of two tales – revisited
        1710 32  - A city of two tales revisited There are clouds on the horizon for both Singapore’s office and residential markets wealth insight Joseph Chong TWO years ago, in the midst of the greatest financial crisis since the Great Depression, I contributed a piece forecasting the performance of the residential and office
        1,710 words
      • Article, Illustration
        Lock icon In search of good long candidates
        1337 33  -  The criteria would be a low price-to-sales ratio, a high Piotroski F-score and capital discipline show me the money Teh Hooi Ling hooiling@sph.com.sg Senior correspondent The writer is a CFA charterholder BACKinJune2009,Ispunare-port off an idea by one of my favourite analysts, James Montier, who
        FILE PHOTO  -  1,337 words
    • WEALTH REAL ESTATE
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      54 36 M iUDEMARS PlGUET le maitre de I'horlogerie depuis 1875 mm a m m m m m RHPlC f *49 si vjw r( oW 220 'j'O 20n Al ITrv. m 4 m m 6m s D m iS! m WVi Yi m ■i i i JULES AUDEMARS CHRONOGRAPH For enquiries, Tel
      54 words
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      54 1 GUEST CHEF Koji Shimomura L5 HEALTH Heartfelt issue L8 LivingTHEBUSINESSTIMESWEEKEND|JANUARY8-*****BTTHE BUSINESS TIMES WEEKEND JANUARY 8-9 2011 THE ART OF PIZZA Upper crust of gourmet pies in town PHOTO: UGUR VIDINLIGIL, STOCK.XCHNG ASIAN MASTERS The rise of the Asian chef L9-13 GOLF Asian trailblazer L17 MOTORING Old-school Ferrari L20 GADGETS Consumer
      54 words
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  • BT Living
    • DINING
      • Article, Illustration
        Lock icon The art of pizza
        2221 2/3  -  pizzaPizza culture is here to stay with speciality joints raising the bar for these pizzaPizza gourmet pies.By pies.By Geoffrey Eu btnews@sph.com.sg IT’S only been a few short weeks, but already the word is out among pizza maniacs: There’s a new kid in town called Pizzeria Mozza
        2,221 words
      • Article, Illustration
        Lock icon Konichiwa, fine French fare
        945 5  -  Years of working with Michelin-starred chefs in Europe has helped chef-owner Koji Shimomura finesse French cuisine to a fine art. guest chef By Jaime Ee jaime@sph.com.sg ONE of Koji Shimomura’s least favourite questions is to explain the difference between the French and Japanese approach to French
        PHOTOS: LES AMIS, BT FILE  -  945 words
    • SHOPPING
      • Article, Illustration
        Lock icon Character study
        1411 6/7  -  Collectors and the young at heart can find rare memorabilia based on well-known comics, TV shows and animated series at these stores.By stores.By Audrey Phoon aphoon@sph.com.sg The Tintin Shop 56 Pagoda Street Z6472-4291 OF the numerous foreigners who have set up home here recently, one face stands out
        PHOTOS: ARTHUR LEE, YEN MENG JIIN  -  1,411 words
    • HEALTH
      • Article, Illustration
        Lock icon Heartfelt issue
        1169 8  -  Advances in cardiology have made it harder for one to suffer sudden cardiac death.By death.By Michael Lim MR A, a patient of mine, had come for his regular check-up and was relating to me that within a short span of time, three of his CEO friends had died
        1,169 words
    • ASIAN MASTERS
      • Article, Illustration
        Lock icon ASIAN MASTERS
        543 9  -  CELEBRATE ASIAN TALENTS IN THE FOOD, WINE AND DRINKS INDUSTRY. THE RISE OF THE ASIAN CHEF A SUPPLEMENT WITH THE BUSINESS TIMES WEEKEND JANUARY 8-9, 2011 BY JENNY TAN if there is one significant progress in the world of chefs in the last decade, it would be this:
        543 words
      • Article, Illustration
        Lock icon cook up a storm
        515 10 Asian Cuisine Workshops by Culinary Masters Date: Jan 7, 8 and 9 Time: 12pm, 2pm, 4pm and 6pm daily Venue: Event Hall, Basement 1, Paragon Shopping Centre (290 Orchard Road, S *****9) Price: $25 (price is subject to 7% GST) For a complete schedule of cooking
        515 words
      • Article, Illustration
        Lock icon eat, drink and be merry
        564 12 East-West Pairing: The Best of Both Worlds Yalumba Wine Dinner featuring the cuisine of chef Chung Manh Cuong chef Lucas Glanville Date: Jan 19, 2011 Time: 7pm Venue: Grand Ballroom, Grand Hyatt Singapore Price: $118 (price is subject to 7% GST) AUSTRALIA has always been
        564 words
      • Article, Illustration
        Lock icon living it up
        734 13 crowningthe AsianMastersfoodand lifestylefestival is the “Gourmet Signatures” series, which showcases Asian chefs flown in specially for Asian Masters, namely Vietnamese chef Chung Manh Cuong from Park Hyatt Saigon and one of India’s top five selling cookery authors in the world, chef Tarla Dalal. Here are two reasons
        734 words
    • GADGETS
      • Article, Illustration
        Lock icon GIZMOS TO COME
        1182 14/15  -  Expect to bag these top-of-the-line releases this year, all recently unveiled at the Consumer Electronics Show 2011, the world’s biggest gizmo trade fair. Christopher Lim reports from Las Vegas reports Christopher Lim limchris@sph.com.sg IS gadget heaven at the annual International Consumer Electronics Show (CES) in Las Vegas,
        1,182 words
    • SPORT
      • Article, Illustration
        Lock icon Beckham’s era has come and gone
        627 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor IT’S the month of January once again, which also means it’s that time of the year when David Beckham leaves the Los Angeles sunshine to play on loan at a top European football club. After
        REUTERS  -  627 words
      • Article, Illustration
        Lock icon Rigours of today’s tennis too much for teenagers
        624 16  -  grand slam with Christy Simson ROGER Federer noticed it recently, so too did Andy Roddick. Where, they asked, were all the youngsters in men’s tennis? There’s a real hint of stagnation after Rafael Nadal and Roger Federer once again split the Majors
        624 words
    • GOLF
      • Article, Illustration
        Lock icon Asian trailblazer
        1142 17  -  His new year’s wish is to break into golf’s top 50 list and climb higher in the rankings. By Justine Moss btnews@sph.com.sg MAKE the cut at Augusta National, secure a win on European soil and maybe lift a Major trophy. These are just a few of the items
        ASIAN TOUR  -  1,142 words
    • MOTORING
      • Article, Illustration
        Lock icon Singapore's next top model
        1272 18  -  Never mind if 2011 is going to be a tough year for the car trade with COEs set to stay sky-high there will still be a slew of new models to tempt buyers into the showrooms. Samuel Ee previews some of these new cars Samuel Ee
        1,272 words
      • Article, Illustration
        Lock icon Classic cool
        576 20  -  It’s the start of 2011 and while everyone is looking ahead to a new year full of new models, it may also be a good time to look back at some older and still desirable cars. Samuel Ee takes a spin in an old-school Ferrari Samuel Ee samuelee@sph.com.sg
        576 words
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      829 6/7 wine&dine with BTWeekend Triple Three Level 5, Mandarin Orchard Singapore 333 Orchard Road Z6831-6288 Triple Three is back. Named for the address of the hotel 333 Orchard Road it features a new Japanese-inspired international buffet spread, helmed by Japanese executive chef Shigeru Akashi. Embark on a culinary adventure with more
      829 words
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      496 9 AS IAN Gourmet Culture Lifestyle Proudly Presented by mm— A Month-long Celebration of Asia's Cuisine, Culture and Lifestyle VINTNER DINNERS Yalumba Wine Dinner featuring the Cuisine of Chef Chung Manh Cuong 8 Chef Lucas Glanville Grand Ballroom, Grand Hyatt Singapore 19 Jan 7pm S$118 per person FEAST ASIA Exclusive Asian
      496 words
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      1432 10 I .vfcsr AS IAN MASTERS Gourmet Culture Lifestyle Proudly Presented by AMERICAN! JEXRRESS Akari Japanese Dining Bar Marina Baylink Mall, #01-02 8A Marina Boulevard Reservation Hotline: 6634 0100 7-Course Set with Sake $78++ per person Not Applicable with other Promotions Offers Bonifacio Modern Filipino Cuisine 35 Kreta Ayer Reservation Hotline:
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      563 11 —g ASIAN M A T R Gourmet Signatures Embark on an epicurean adventure across Asia with prominent Asian Master Chefs flown in especially for Asian Masters. Gourmet Culture Lifestyle Proudly Presented by 'A J-r T'-' mm fi rVWiWal I sRICAN J EXPRESS r i mm Art: i C. Saigon Chic
      563 words
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      182 12 V YYtjWM Whip up a meal for your loved ones with ease! T7777T7\ Prima Taste Best Singapore Favourites offers a comprehensive range of pastes sauces that are quick and easy to use. Each sauce kit comes complete with essential ingredients and condiments, ensuring a full complement of robust authentic tastes
      182 words
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      60 12 AS IAN MASTERS A Month-long Celebration of Asia's Cuisine, Culture and Lifestyle 3 30 January 2011 Gourmet Culture Lifestyle A EBI PREMIUM LAGER eft 4°0 CSS D' IO c C i-'O; C °o°,o o so Jl J PREM HUM w HFh o J C. O j c UNIQUELY BREWED REMARKABLY
      60 words
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      81 13 evian is a natural mineral water, which means it comes from a protected underground source from the heart of the French alps. After 15 years of natural filtration, the water is pure and perfectly balanced in minerals, making it the best choice for everyday hydration. AS IAN MASTERS J 4**
      81 words
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