The Business Times, 12 February 2011
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2011-02-12
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The Business Times
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Title Section17 2011-02-12 1 THE BUSINESS TIMES www.businesstimes.com.sg FEBRUARY 12 -13, 2011 S$1.00 MICA(P) 139/08/2010 S|5l A SINGAPORE PRESS HOLDINGS PUBLICATION17 words
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Article, Illustration30 2011-02-12 1 egypt turmoil EGYPTIAN President Hosni Mubarak has stepped down and the vice-president has named a military council to run the country’s affairs, state television said yesterday. 330 words
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Article28 2011-02-12 1 corporate results DBS Group’s Q4 profit rose 38 per cent to $678 million compared to a year ago, surpassing analysts’ estimates. 228 words
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Article32 2011-02-12 1 law society A TENTATIVE truce has been reached between the Singapore Law Society and a group of dissenting lawyers that is expected to resolve key issues. 432 words
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Article, Illustration920 2011-02-12 1 After getting hammered by rivals in the smartphone war, Nokia will dump its own platform and use Windows as primary software to take on iPhone, Android challenge Bloomberg Helsinki NOKIA, the world’s biggest maker of mobile phones, said that it’s forming a softwareBloomberg; AFP - 920 words
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480 2011-02-12 1 Joyce Hooi - Electric sports car firm packing its bags By Joyce Hooi joyceh@sph.com.sg Singapore JUST half a year after getting here, Nasdaq-listed Tesla the electric sports car firm is taking its Roadster and hitting the road. It will shut its doors in Singapore next week, essentially480 words
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Page 1 Advertisements
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Advertisement19 2011-02-12 1 the business www.businesstimes.com.sg MOTORING BMW’s new 6 Series: A ‘grander’ car l18-19 RAFFLES India's Foreign Secretary, Nirupama Rao 8-919 words
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Advertisement10 2011-02-12 1 VALENTINE’S DAY Spread the love l4-6 LIVING Hot property L2-310 words
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Advertisement6 2011-02-12 1 WEALTH S’poreans not so confident 30-316 words
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TOP STORIES
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Article139 2011-02-12 2 H STI 3,077.27 (-26.12) H STI FUTURES 3,078 (-26) H SIMSCI 364.17 (-3.27) H SIMSCI FUTURES 364.20 (-2.40) STOCKS Friday Change KL COMP 1,494.52 -9.47 NIKKEI 225 Closed HANG SENG 22,828.92 +120.30 SET 949.57 +0.48 JAKARTA 3,391.77 +18.12 MANILA 3,749.15 +10.84 KOSPI 1,977.19 -31.31 SHENZHEN B 824.99 +0.24 MUMBAI139 words
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Article, Illustration648 2011-02-12 2 Conrad Tan - Earnings exceed analyst estimates; bad-loan charges decline while trading and investment income rises By Conrad Tan conradt@sph.com.sg Singapore DBSGroup’sfourth-quarternetprofit rose 38 per cent to $678 million compared to a year ago, surpassing analysts’ estimates, due mainly to a fall in bad-loan chargesARTHUR LEE - 648 words
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427 2011-02-12 2 Conrad Tan - Cooling measures take toll on demand for cheaper units By Conrad Tan conradt@sph.com.sg Singapore THE recent government measures to cool the property market have hurt demand for new home loans at the lower end of the market, but not at the top end,427 words
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Article, Illustration573 2011-02-12 3 Protesters’ anger gives way to elation Reuter AP AFP Cairo EGYPTIAN President Hosni Mubarak has stepped down and the vice-president has named a military council to run the country’s affairs, state television said last night after 18 days of mass protests against hisReuter; AP; AFP - 573 words
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Article, Illustration854 2011-02-12 4 Grace Leong - Society’s president says he’s happy all parties are working towards a constructive solution By Grace Leong gleong@sph.com.sg Singapore A TENTATIVE truce has been reached between the Singapore Law Society and a group of dissenting lawyers that is expected to resolve key issues that854 words
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667 2011-02-12 4 Chris Woo - Offer choice school to those expecting third child when first registers for Primary One SATURDAY SOAPBOX By Chris Woo ~The writer is a tax partner in PricewaterhouseCoopers who dreamt this fiendishly simple plan while contemplating the Budget wish list. WHO can forget the667 words
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698 2011-02-12 5 Investors were put off by valuation that pegs the carrier far higher than regional peers Reuters Jakarta SHARES in PT Garuda Indonesia, the nation’s flag carrier, plunged 17 per cent on their trading debut yesterday as buyers were scared off by a highReuters - 698 words
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514 2011-02-12 6 Chen Huifen - As commercial lending by banks rises amid an improving economy, loans supported by Spring in 2010 slip to $2.7b By Chen Huifen xuifen@sph.com.sg Singapore SME loans supported by Spring Singapore fell to $2.7 billion last year from $6.1 billion the previous year,514 words
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Article, Illustration514 2011-02-12 6 Maxie Aw Yeong - Eateries go the whole hog to woo couples, singles, even V-critics By Maxie Aw Yeong maxieay@sph.com.sg Singapore WITH Valentine’s Day just around the corner, some restaurants are coming up with special menus for the occasion. But some have gone the extra mile toYEN MENG JIIN - 514 words
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Page 2 Advertisements
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Advertisement61 2011-02-12 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 30-31 Wealth Insight 32 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Home Garden L2-3 Dining L4-6 Shopping61 words
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Page 3 Advertisements
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Advertisement274 2011-02-12 3 Singapore Medical Specialists Centre One Day One Stop One Centre Prevent Heart Attacks, Stroke and Cancers Do you have chest pain or breathlessness? Do you have loss of appetite or decrease in weight? Do you have headaches, weakness or dizziness? Do any of your family members have heart disease, stroke274 words
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WEEK IN REVIEW/WEEK AHEAD
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THIS WEEK Feb 7-11, 2011
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49 2011-02-12 7 NEWS that emerging equity markets suffered outflows of more than US$7 billion last week as nervous investors took fright at events in Egypt and mounting price pressures in emerging economies has added to rising official concern over volatile capital flows.49 words
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66 2011-02-12 7 ONE year after a national lament over low labour yields, Singapore has notched up one of the world’s highest productivity growth rates in 2010, second only to Qatar. Latest figures from The Conference Board put Singapore’s 2010 productivity growth at an estimated66 words
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63 2011-02-12 7 THE government is planning new regulations to make sure that showflats accurately represent the actual units in a project, sources told BT. The move is meant to ensure that buyers are not misled by the interior design work at some63 words
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54 2011-02-12 7 VISITOR traffic at the integrated resorts jumped to new heights in the first few days of the Year of Rabbit, with more than a million visits recorded. At Marina Bay Sands alone, some 885,000 visitors locals and tourists celebrated Chinese New54 words
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64 2011-02-12 7 ONE year into the job, Petronas president and chief executive Shamsul Azhar Abbas has changed the way Malaysia’s only Fortune 500 company does business. Mr Shamsul, 57, introduced quarterly reporting, regrouped the firm into four separate businesses each under an executive vice-president, and64 words
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53 2011-02-12 7 THE odds are increasingly stacked against foreign private equity players in China, as they face greater competition from peers and domestic yuan funds. These new domestic players are redefining the PE landscape in China with swift deal-cutting and a willingness to53 words
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71 2011-02-12 7 US regulators have begun their most forceful attempt yet to clamp down on bank bonuses since the 2007-2009 financial crisis. While the proposals pale in comparison to similar restrictions in Europe, talk of keeping a keen eye on loopholes indicates that71 words
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42 2011-02-12 7 CHEMICAL investments are streaming into Jurong Island as feedstock flows from its new petro- chemical crackers. The chemicals that are churned out will go into producing everyday products, ranging from plastics, DVDs, plywood and paints to textiles.42 words
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Article, Illustration33 2011-02-12 7 THE STRAITS TIMES BIG RUSH VISITOR traffic at the IRs jumped to new heights in the first few days of the Year of Rabbit, with more than a million visits recorded33 words
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52 2011-02-12 7 STOCK markets in Asia stumbled on Wednesday, after China raised interest rates for the third time in four months to cap fast-rising prices. Market watchers are bracing themselves for more tightening measures ahead as inflation looks set to stay52 words
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64 2011-02-12 7 THE merger frenzy gripping the world’s biggest stock exchanges swept across Asia on Thursday, putting pressure on exchanges that still earn the bulk of their revenue in their home markets. Hong Kong Exchanges and Clearing said thatitwould “consider international opportunities for alliances, partnerships64 words
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61 2011-02-12 7 ALL 64 statutory boards in Singapore could soon have a proper whistleblowing policy in place in a coordinated effort to detect fraud from within. This was mooted by the Public Accounts Committee, having already approached the Ministry of Finance which holds the61 words
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Article87 2011-02-12 7 US DATA Feb 15 Jan retail sales Dec business inventories Feb 16 Jan housing starts Jan producer price index Jan industrial production Feb 17 Jan consumer price index SINGAPORE DATA Feb 15 Dec retail sales and catering trade indices Feb 17 Q4 GDP Jan merchandise87 words
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Page 7 Advertisements
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Advertisement33 2011-02-12 7 Looking for opportunities? January/February issue out now! Available at all petrol stations (except Caltex) and all major bookstores To subscribe ($30 for six issues delivered to your office or home), please call 6388-383833 words
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Page 7 Miscellaneous
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Miscellaneous308 2011-02-12 7 CRYPTIC CROSSWORD Across 1 Tree remained sound with early treatment (5,3) 6 To hush an upset baby is rather mean (6) 9 Where in Africa one backs law to some degree (6) 10 Artist set back by competitors’ entries (8) 11 A recorder may accept this involved test case (8)308 words
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THE RAFFLES CONVERSATION
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Article, Illustration1943 2011-02-12 8 Vikram Khannaabout - India’s Foreign Secretary Nirupama Rao talks to Vikram Khannaabout New Delhi’s relations with China and the rest of the region. Vikram Khannaabout vikram@sph.com.sg ‘IFREEZE in this sleet of memory waiting in this room full of strangers to crosscheck the milesARTHUR LEE - 1,943 words
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COMPANIES
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592 2011-02-12 10 Victoria Ho - But acquisition expenses of iPhones and other smartphones puts a drag on full-year profit By Victoria Ho vhoip@sph.com.sg Singapore STARHUB posted an 8.4 per cent year-on-year rise in fourth quarter net profit to $80.4 million as revenue592 words
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Article192 2011-02-12 10 R Sivanithy - By R Sivanithy sivan@sph.com.sg Singapore MAINBOARD-listed retail and properties group Second Chance Properties (SCP) yesterday announced a 30 per cent rise in H1 financial-year 2011 net profit to $8.88 million and proposed a one-for-four bonus issue. In its results for the six months ended192 words
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Article, Illustration335 2011-02-12 10 Ronnie Lim - By Ronnie Lim ronnie@sph.com.sg Singapore DESPITE last October-December being its strongest operating quarter in 2010, marine fuel supplier Chemoil Energy yesterday reported a net loss of US$1.8 million in the fourth quarter due to one-time write-offs, including US$5.1 million for deferred tax assets ofFILE PHOTO - 335 words
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361 2011-02-12 10 Felda Chay - By Felda Chay feldac@sph.com.sg Singapore METAL recycling group Union Steel Holdings may have seen a drop in first-half revenue, but that did not stop its net profit from quadrupling. Net earnings for the six months ended Dec 31, 2010 shot up361 words
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386 2011-02-12 11 Joyce Hooi - ‘Very overvalued’ over the next 18 months: RBS By Joyce Hooi j oyce h @s p h .co m .sg Singapore INVESTORS unnerved by the correction in the market should hang on to their knickers because they are headed for a bubble, according to Emil386 words
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Article, Illustration333 2011-02-12 11 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg Singapore TOURISM stocks are hot picks after the industry announced a record year of visitor arrivals and tourism receipts last year, making Credit Suisse bullish on companies such as Genting Singapore, CDL Hospitality Trusts and Singapore Airlines (SIA) in anticipation333 words
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273 2011-02-12 11 Emilyn Yap - By Emilyn Yap emilyny@sph.com.sg Singapore ASCENDAS Real Estate Investment Trust (A-Reit) has made its foray into China by buying a business park building in Shanghai for 587.9 million yuan (S$113.8 million). The industrial Reit will continue looking for more investments in Singapore and273 words
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274 2011-02-12 11 Felda Chay - By Felda Chay feldac@sph.com.sg Singapore GOLDEN Agri-Resources’ Indonesia-listed subsidiary SMART is looking to invest US$500 million in two crude palm oil (CPO) plants, said a Reuters portquotingIndonesia’sIndustry Minister Mohamad Hidayat. When asked to confirm this, Golden Agri declined to comment. Reuters274 words
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Article, Illustration583 2011-02-12 12 R Sivanithy - STOCKS R Sivanithy sivan@sph.com.sg Senior correspondent THERE’S not a lot we can add to the considerable amount of newsprint that’s been devoted to the slide suffered by Asian markets over the past three weeks, which has come in tandem with gains in Western583 words
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Article111 2011-02-12 12 VOL CLOSE GentingSP 114,039 203 1.0 0.5 GoldenAgri 106,331 71 -0.5 -0.7 GLP 52,177 193 -6.0 -3.0 CapitaLand 45,653 334 -5.0 -1.5 TopGlobal 44,252 1.5 0.0 0.0 NobleGrp 43,778 215 -5.0 -2.3 *GentingHK US$ 34,563 42.5 0.0 0.0 GMGGlobal 34,529 30 0.0 0.0 NexGenSCom 32,964 5.5 0.0111 words
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Article111 2011-02-12 12 Stock name Close Change CapMallsAsia 1.910 -0.040 CapitaLand 3.340 -0.050 CapitaMall 1.840 -0.040 CityDev 10.800 -0.200 ComfortDelGro 1.560 DBS Grp 14.800 -0.020 F&N 6.020 -0.040 Genting SP 2.030 +0.010 Golden Agri 0.710 -0.005 HK Land 6.580 -0.020 JMH 44.980 -0.680 JSH 26.860 -0.620 Jardine C&C 31.220 -0.800 Keppel111 words
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Article68 2011-02-12 12 BV CENTS CLOSE •JP DBXT AUD Bonds SAU$ ***** 109.9 0.6 GLD 10USS ***** 97.4 0.6 Asia Pac Brew 2:136 86.0 42 DBXT Nifty iouss ***** 449 0.3 DBXT SS<P Short IOUSS 4309 23 2 05 UOB 5.06%NCPS 100 ***** 26.0 0.2 SIA 200 1428 16.0 1.1 DBXT68 words
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Article60 2011-02-12 12 BY CENTS CLOSEDOWN DBXT FTVietnam 10US$ 3829 -219.2 -4.3 DBXT MSKorea 10US$ 5707 -208.9 -2.8 IS MSCI Spore 1243 -147.4 -8.5 DBXT E50 10US$ 4442 -146.1 -2.5 DBXT MSTaiwan 10US$ 1937 -117.9 -4.5 DBXT MSAsExJp 10US$ 3187 -112.8 -2.7 DBXT FTChina25 10US$ 2985 -108.9 -2.8 JMH 4498 -87.260 words
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Article250 2011-02-12 12 Reuters Bangkok ADVANCED Info Service Pcl (AIS), Thailand’s top mobile phone operator and an associated company of Singapore Telecommunications, reported a bet-ter-than-expected 41 per cent rise in quarterly earnings yesterday, boosted by growth in data and non-voice services. AIS earnings fared better than regional peers. Telstra,Reuters - 250 words
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Business briefing
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47 2011-02-12 12 AMTEK Engineering reported a 46 per cent jump in second quarter net income to US$13.2 million, from US$9 million a year earlier. Sales rose 4 per cent for the three months ended Dec 31 to US$174.8 million, from US$168 million.47 words
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35 2011-02-12 12 SBS Transit Ltd said that net profit fell 0.6 per cent for its fiscal year 2010 from a year ago to $54.3 million. Earnings in FY2009 was $54.6 million.35 words
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47 2011-02-12 12 ASL Marine Holdings posted an 11.8 per cent increase in net profit to $10 million for its second quarter ended Dec 31, 2010. Its revenue for the same period fell 24.1 per cent, from $135.8 million to $103.1 million.47 words
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31 2011-02-12 12 IDT Holdings (Singapore) will be delisted from the Singapore Exchange on Feb 21. Trading in the counter will be suspended from Monday.31 words
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36 2011-02-12 12 NH Ceramics, which intends to diversify its business, has inked an agreement to purchase HEC Group for $133.8 million. HEC Group operates in the offshore and marine sector.36 words
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32 2011-02-12 12 MEWAH International is raising its investment in China by a further US$200 million under a second deal with the Jiangsu Zhangjiagang Free Trade Zone Administrative Committee.32 words
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46 2011-02-12 12 INFORMATICS Education posted a net profit of $108,000 for the third quarter ended Dec 31, 2010, reversing a net loss of $377,000 a year ago. Cost saving measures and a tax credit helped the firm return to the black.46 words
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Article, Illustration719 2011-02-12 13 Arthur Lee - Banks host special CNY events to welcome the Year of the Rabbit By Arthur Lee arthurl@sph.com.sg Singapore THE Chinese New Year offers banks in Singapore an occasion to thank customers, with several of them hosting special events to welcome the Year of theARTHUR LEE - 719 words
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Page 11 Advertisements
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Advertisement70 2011-02-12 11 I, Anna Victoria Rosdol, divorce, of Craig Stephen Ward, of 25 Jalan Hajijah, 05-01 Singapore, *****1 intend to marry Daniele Pratolongo, single, of 226 Ocean Drive, 04-31 The Berth by the Cove, Singapore, *****1 at Semarapura Villa, Bali, Indonesia on the 2nd April 2011. Any person knowing of any lawful70 words
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FROM THE DESK OF
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Article, Illustration942 2011-02-12 14 Steve Watts - Enterprise mobility applications improve productivity, compress cycle times and are ushering in a new wave of business process innovations from the desk of Steve Watts President SAP Asia Pacific Japan ACROSS the globe, there is a massive uptick in demand for mobile technologies, from smartphones942 words
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SINGAPORE
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Article, Illustration509 2011-02-12 15 Chen Huifen - Spring Singapore plans to channel more efforts to sectors and start-ups with greater potential for growth By Chen Huifen xuifen@sph.com.sg ENTERPRISE development agency Spring Singapore said that it intends to focus more efforts on specific sectors and start-ups that have greater potential for growth,FILE PHOTO - 509 words
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Article, Illustration475 2011-02-12 15 Chuang Peck Ming - By Chuang Peck Ming peckming@sph.com.sg STAY together, offer everyone the same opportunities and, most importantly, give the children better schools and teachers. That’s the recipe, put simply by Minister Mentor Lee Kuan Yew, to extend Singapore’s progress. “If we keep all our racesSAMUEL HE/THE STRAITS TIMES - 475 words
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Article, Illustration523 2011-02-12 16 Ronnie Lim - Energy Market Authority to embark on study in collaboration with Workforce Devt Agency By Ronnie Lim ronnie@sph.com.sg WORKERS in the energy sector will need to have their skills upgraded, as the industry moves increasingly into sustainable processes and as Singapore transitions into a “smartFILE PHOTO - 523 words
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384 2011-02-12 16 Michelle Quah - Iras takes stern view of offences by those with specialised knowledge By Michelle Quah michquah@sph.com.sg A CERTIFIED public accountant (CPA) has been charged for tax evasion for the first time, with the Inland Revenue Authority of Singapore (Iras) saying it takes a stern view384 words
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Article, Illustration395 2011-02-12 17 Sean Tan - Survey of six replacement sites shows residents satisfied with various aspects of their physical living environment By Sean Tan seantan@sph.com.sg SUPPORT for the Selective En Bloc Redevelopment Scheme (SERS) has reached its highest level yet, according to the latest survey conducted by the HousingFILE PHOTO - 395 words
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201 2011-02-12 17 ON the back of rising inflation, NTUC Foodfare Co-operative Ltd yesterday announced that it will hold off any price increase for its basic foods and beverages for the rest of this year. This will apply to its 40 foodcourts, coffee201 words
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Article, Illustration345 2011-02-12 18 Linette Lim - When completed in 3Q2012, it’ll have S’pore’s first two fully operational soundstages By Linette Lim llinette@sph.com.sg CONSTRUCTION of the first building in Mediapolis@onenorth will begin this month. The 10-storey building is being developed by a joint venture between Ascendas and Citramas Nusaterra at a345 words
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Briefing
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145 2011-02-12 18 A NEW ticketing service provider has been launched in Singapore. TicketBooth from Quebec Leisure International promises to better meet the needs of event promoters, organisers and the public. TicketBooth allows event-goers to buy their tickets at 10 authorised outlets, through its call centre,145 words
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128 2011-02-12 18 NUS president Tan Chorh Chuan will be conferred the Honorary Doctor of Science from Duke University at the 159th Commencement, to be held in the US. The award is in recognition of Professor Tan’s contributions as an international leader in biomedical sciences, public128 words
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495 2011-02-12 18 Conrad Tan - By Conrad Tan conradt@sph.com.sg THE Singapore economy is expected to expand by 4-6 per cent this year, but the outlook for the world economy remains mixed, Monetary Authority of Singapore (MAS) managing director Heng Swee Keat said yesterday. The uneven pace of recovery across495 words
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Page 16 Advertisements
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Advertisement14 2011-02-12 16 IT'S HERE! <tm;c GET THE FREE 9I.3FM APP NOW! Available on the App Store14 words
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Page 17 Advertisements
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Advertisement19 2011-02-12 17 Pacify the Raging Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Apology Notices [•i AT-3 NOTICES19 words
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WORLD
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556 2011-02-12 19 Annual trade gap up nearly 33% in 2010 Reuters AP Washington THE US trade deficit widened in December to its highest level in four months, the US government said yesterday in a report that also showed the annual trade gap expanded nearly 33Reuters; AP - 556 words
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Article430 2011-02-12 19 Yesterday’s was the sixth in nearly three years Reuters Hanoi VIETNAM devalued its beleaguered currency yesterday for the third time in a year, as authorities start to try to address festering economic problems that critics say have been brushed aside in the pursuit of growth.Reuters - 430 words
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Article, Illustration372 2011-02-12 19 Reuters Hong Kong A GROWING number of livestock, such as cows and pigs, are fuelling new animal epidemics worldwide and posing more severe problems in developing countries as it threatens their food security, according to a report released yesterday. Epidemics in recent years, suchReuters; AP - 372 words
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482 2011-02-12 20 Man cited in McAfee report tells of exploits AP Beijing A CHINESE man cited by a US security firm as being linked to cyberspying on Western oil companies said yesterday his company rents server space to hundreds of hackers. The disclosure highlighted the pervasiveness ofAP - 482 words
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507 2011-02-12 20 Pauline Ng - By Pauline Ng btworld@sph.com.sg Kuala Lumpur PRIME Minister Najib Razak has called on Chinese businessmen to work at expanding the economy rather than fighting over the spoils. The government will do its utmost to cater to all sections of the507 words
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276 2011-02-12 20 AFP Dakar THEIR goals were once seen as pipe dreams but an-ti-globalisation activists believe they are finally beginning to win the argument. All that remains is for their ideas to be implemented. Delegates gathered at thisweek’sWorldSocialForum in Dakar say the recent financialAFP - 276 words
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Article, Illustration518 2011-02-12 21 Its survey of forecasters for Q1 anticipates 1.6% growth, 1.9% inflation in eurozone in 2011 AFP Frankfurt THE European Central Bank (ECB) unveiled on Thursday lysts’forecastsforeurozoneinflation and growth rates which suggest its own predictions could be revised upwards. The ECB is to release quarterlyAFP; BLOOMBERG - 518 words
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Article, Illustration422 2011-02-12 21 Bloomberg Washington FEDERAL Reserve governor Kevin Warsh, who was one of chairman Ben Bernanke’s closest financial-crisis advisers before becoming the only governor to question the expansion of record monetary stimulus in November, resigned after five years at the central bank. Mr Warsh, 40,Bloomberg - 422 words
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298 2011-02-12 21 Bloomberg New York GEORGE Soros and John Paulson, who oversee two of the world’s largest hedge funds, say the Federal Reserve helped cause the financial crisis through inaction and lack of oversight, according to interviews released on Thursday. Mr Paulson, whose PaulsonBloomberg - 298 words
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506 2011-02-12 22 Insurance firms banned from providing debt guarantee, reserve requirement ratios at small and medium-sized banks raised AFP Reuters Shanghai CHINA further tightened control over its financial sector yesterday, banning insurance firms from providing guarantees for debt incurred by other companies, and ordering someAFP; Reuters - 506 words
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322 2011-02-12 22 Bloomberg New Delhi INDIA’s industrial production grew less than estimated in December, rising at the weakest pace in 20 months and adding to concerns the economy may slow after the steepest interest-rate increases in Asia. Output at factories, utilities and mines roseBloomberg - 322 words
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Article, Illustration326 2011-02-12 22 Reu ters New Delhi INDIAN Prime Minister Manmohan Singh faces more political headaches after the Supreme Court pressed for deeper probes into a multi-billion-dollar corruption case and a ruling coalition ally was implicated in the scandal. Allegations that the government may haveReuters - 326 words
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Page 20 Advertisements
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Page 22 Advertisements
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Advertisement23 2011-02-12 22 Chinese entrepreneur turns his used car online auction business into a goldmine 通中将 To subscribe, call 6388-3838 or go to sphsubscription.com.sg23 words
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SGX
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Article10908 2011-02-12 26 Transaction date: Feb 11 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 unch 550 19 18.5 18.5 19 1.7 9.5 6.1 91 12 4.5 5834 A-Sonic10,908 words
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Article186 2011-02-12 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 11 3 0 0 0 3 11 3 Manufacturing 38 69 72 4 7 16 42 76 88 Commerce 10 32 24 4 6 5 14 38 29 Tpt/Stor/Comms 14 12 17186 words
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846 2011-02-12 26 For week beginning Feb 7 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Cache Log Trust 10-Feb-11 Lim Hwee Chiang *Sell 829 na ***** 2.18 ***** 2.05 China Angel Food846 words
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Article121 2011-02-12 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 61,714 61,714 201,905 201,905 Manufacturing 328,355 17,927 346,282 319,502 970 320,473 Commerce 135,384 4,459 139,843 172,281 726 173,007 Tpt/Stor/Comms 131,909 1,712 133,621 249,220 334 249,554 Finance 40,788 40,788 350,696 350,696 Construction 17,826 44,545 62,371 5,131121 words
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MARKETS
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Article118 2011-02-12 27 Feb 11 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.323 1.249 Can dollar 1.308 1.258 Euro 1.773 1.705 Sterling pound 2.097 2.017 NZ dollar 1.002 0.955 US dollar 1.298 1.249 Local dollars to 100 units of foreign currency: Currencies Sell118 words
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Article, Illustration100 2011-02-12 27 YTD change: -3.54% 52-week high: 3,313.61 on Nov 9,2010 52-week low: 2,648.15 on May 25,2010 Source: Bloomberg YTD change: -0.90% 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: +5.63% 52-week high: 12,254.20 on Feb 9, 2011 52-week low: 9,614.32Source: Bloomberg - 100 words
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374 2011-02-12 27 In local curr In S$ In US$ dy yr dy yr dy yr Feb 10 Index Change Change Change Change Change Change World Index Preliminary 937.2 -0.1 4.4 0.0 4.2 -0.4 4.4 ‡EAFE Preliminary 832.8 -0.2 4.0 -0.5 3.9 -0.9 4.1 Europe Preliminary 1216.4 -0.4374 words
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Article154 2011-02-12 27 Feb 11 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2776 1.2799 0.9968 0.9978 Canadian dollar 1.2852 1.2868 1.0027 1.0032 Euro 1.7368 1.7386 1.3551 1.3554 NZ dollar 0.9727 0.9742 0.7589 0.7595 Sterling pound 2.0565 2.0586 1.6045 1.6049154 words
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Article82 2011-02-12 27 Feb 10 COCOA (£/tonne) Close Prev High/Low Mar 11 2193 2147 2219/2150 May 11 2176 2134 2205/2141 Jul 11 2161 2119 2187/2127 Sep 11 2146 2114 2165/2121 COFFEE (US$/tonne) Close Pev High/Low Mar 11 2224 2221 2236/2203 May 11 2259 2254 2270/2235 Jul 11 2276 2269 2285/2250 Sep 1182 words
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Article93 2011-02-12 27 Feb 10 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Mar 11 1433.*****1.*****5.*****0.00 May 11 1445.*****3.*****6.*****2.50 Jul 11 1452.*****0.*****4.*****9.50 Aug 11 1430.*****7.*****9.*****9.50 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Mar 11 59.04 59.74 59.96 58.96 May 11 59.62 60.31 60.50 59.47 Jul 11 60.10 60.82 61.0293 words
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Article75 2011-02-12 27 Feb 10 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 101.95 0.57 WTI (Near Mth) 86.80 -0.01 Dubai (1-Mth F) 98.74 2.10 Tapis blend 106.80 2.35 Minas 102.90 2.35 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 95.67 1.00 Jet Kerosene 117.80 1.35 US$/barrel Opec Oil Basket Price75 words
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Article71 2011-02-12 27 Feb 10 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2516.80 2523.75 3 months 2537.50 2545.00 Copper, Grade A (US$/tonne) Cash 9949.50 9933.00 3 months 9940.00 9925.00 Lead (US$/tonne) Cash 2529.50 2538.00 3 months 2510.00 2520.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)71 words
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Article68 2011-02-12 27 Feb 11 GOLD (US$/oz) Feb 10 Feb 11 Hong Kong 1357.*****2.60 Feb 09 Feb 10 London 1362.*****1.00 1364.*****1.75 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 38.66 38.43 Source: UOB PLATINUM Lon (US$/oz) Feb 10 Close Previous PM Fix 1831.*****8.00 AM Fix 1834.*****3.00 Source: Thomson Reuters PLATINUM NYMEX68 words
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Article65 2011-02-12 27 Feb 11 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Feb 11 3988 3988 3988 3988 934 1753 Mar 11 3936 3970 3985 3934 1371 ***** Apr 11 3900 3955 3963 3894 ***** ***** May 11 3876 390665 words
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PERSPECTIVE
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Article, Illustration998 2011-02-12 28 / 29 Anthony Rowley - Our correspondent imagines a chat with Fed chairman Ben Bernanke who is on a mission to save the world Anthony Rowley Tokyo correspondent IT HAD been a long time years in fact since I held one of my informal telephone conversations with the chairman of the998 words
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Article, Illustration548 2011-02-12 28 / 29 Aekapol Chongvilaivan - By Aekapol Chongvilaivan The writer is a fellow at the Institute of South-east Asian Studies. CHINA has emerged strongly as Asia’s leading investor in the aftermath of the global economic meltdown. To ride the next wave of globalisation, South-east Asia must continue to548 words
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Wealth
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WEALTH
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Article, Illustration932 2011-02-12 30 / 31 Genevieve Cua - recent survey of the wealth priorities of affluent Asians found that Singaporeans want to make money but tend to eschew advice. By Genevieve Cua gen@sph.com.sg THERE is nothing like a rising market to boost confidence, yet Singaporeans are not as confident as their peers in the regionSTOCK.XCHNG - 932 words
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BROKERS’ TAKE
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Article353 2011-02-12 30 / 31 Hold Phillip Securities Research Feb 11 Close: $0.71 SOME positive developments are taking place for Golden Agri-Resources Limited (GGR) as it announced on Wednesday its collaboration with the government of Indonesia and Genevabased non-profit organisation The Forest Trust (TFT) in finding solutions towards forest conservation. A Forest353 words
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Article408 2011-02-12 30 / 31 Joyce Hooi - Outperform CIMB Research Feb 11 Close: $14.80 Compiled by Joyce Hooi FOURTH-QUARTER 2010 net profit met our expectation and the Street’s. We like the results as quality revenues gained traction. Positives were: strong loan growth, bottoming margins, improved investment-banking fees and a build-up of wealth management fees. Net408 words
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Article, Illustration1285 2011-02-12 32 Shane Oliver - But that doesn’t alter the favourable strategic outlook for Asia and emerging markets wealth matters Shane Oliver AMP Capital Investors ~The writer is head of investment strategy and chief economist, AMP Capital Investors RISING inflationary pressures in Asian and emerging countries are clearly starting to worrySource: Bloomberg, AMP Capital Investors - 1,285 words
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Article, Illustration1485 2011-02-12 33 Teh Hooi Ling - Can the US and UK reduce their high debt levels or are things going to get a lot uglier? show me the money Teh Hooi Ling hooiling@sph.com.sg Senior correspondent ~The writer is a CFA charterholder IN my last article, we explored how moneySource: European Commission; IMF, Worl Economic Outlook, April 2007;OECD; US Congressional Budget Office; authors’ projections.; Source: Musson; Source: Buiter; Source:GFD - 1,485 words
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WEALTH REAL ESTATE
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1108 2011-02-12 34 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 14 LANDED Jln Selamat 3-Ter 14/01/2011 FH 3400 3080 906 Lor 34 Geylang 1-Ter 14/01/2011 FH 16561,108 words
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Article, Illustration371 2011-02-12 35 Fewer first-time buyers are coming in as banks continue to curb mortgage lending, says a former Bank of England policymaker Bloomberg London FORMER Bank of England policymaker Kate Barker said UK house prices may extend their decline this year as Britons’ confidenceBloomberg - 371 words
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324 2011-02-12 35 UK commercial property deals set to grow 10% this year, says Ernst Young Bloomberg London UK commercial real estate deals will probably increase 10 per cent by value this year as companies take over rivals and banks offload property debt, said Nick Brown, head of real estate transactions at accountantBloomberg - 324 words
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Article, Illustration559 2011-02-12 35 SIGN OF THE TIMES The price of a single-family home dropped from a year earlier in 71 of 152 metro areas. Mounting foreclosures are depressing home values and discouraging buyers who believe prices will fall further. Bloomberg Boston HOME pricesBloomberg; BLOOMBERG - 559 words
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Page 36 Advertisements
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Advertisement85 2011-02-12 36 M iUDEMARS PlGUET Le maitre de I'horlogerie depuis 1875 s > \X r Xx 1 60 imii ii II//// m m V/ O o v O JX o A[ 5 Ul) EMAt5 I m rlGll O S sas 'V. o V I K> m =8S 1 m Sf o m85 words
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Advertisement51 2011-02-12 1 LivingTHEBUSINESSTIMESWEEKEND|FEBRUARY12-*****1BTTHE BUSINESS TIMES WEEKEND FEBRUARY 12-13 2011 HOT PROPERTY Asians buying real estate overseas WATCHES Thin is still in L12-13 STRATA SE1, LONDON. PHOTO: BROOKFIELD EUROPE DINING Spread the love L4-6 GADGETS Tech love L14 SHOPPING Valentine's Day experiences L8-9 HEALTH Every step of the way L15 MOTORING Cruze control51 words
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BT Living
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HOME & GARDEN
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Article, Illustration1485 2011-02-12 2 / 3 Daven Wu - the strenth Spurred by strength of their currencies, more Asians are buying real estate overseas.By overseas.By Daven Wu btnews@sph.com.sg IT’S hardly news that while the major Western world currencies have been reeling from the battering they’ve been dealt over the past few years, the Singapore dollar and itsEATON PLACE PHOTOS BY MICHAEL J PAUL - 1,485 words
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DINING
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Article179 2011-02-12 4 / 5 BT Weekend looks at some Valentine’s Day dining options with a difference COMING so soon after the Lunar New Year, when Chinese restaurants across town enjoyed the kind of booming trade reminiscent of the pre-recession age, Valentine’s Day presents another opportunity for restaurateurs to continue letting the179 words
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Article, Illustration412 2011-02-12 4 / 5 Geoffrey Eu - By Geoffrey Eu Marina Bay Sands 10 Bayfront Avenue Z6688-8507 www.wakughin.com IF Tetsuya Wakuda had his way, everyone would be sharing tables on Valentine’s Day spreading the love around, so to speak. The celebrated chef and culinary force behind fine-dining restaurant WakuGhin at Marina Bay Sands has never really412 words
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Article, Illustration489 2011-02-12 4 / 5 Geoffrey Eu - By Geoffrey Eu btnews@sph.com.sg 2 Dickson Road Z6298-1188 www.restaurantcocotte.com COCOTTE bills itself as a “Communal Restaurant Bar” so it should come as no surprise that the emphasis at this six-month-old shabby-chic French bistro in the heart of Little India, serving country-style cuisine, is firmly on sharing plates. The theme489 words
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Article, Illustration407 2011-02-12 4 / 5 Audrey Phoon - Stellar 1 -Altitude By aphoon@sph.com.sg Audrey Phoon aphoon@sph.com.sg Level 62 One Raffles Place (OUB Centre) 1 Raffles Place Z6438-0410 IT’S perched atop one of the highest points in Singapore and its large glass windows offer a marvellous view of the city skyline. In other words, in terms of being a407 words
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Article, Illustration421 2011-02-12 6 Audrey Phoon - By aphoon@sph.com.sg Audrey Phoon aphoon@sph.com.sg #01-16 The Foundry, Clarke Quay 3B River Valley Road Z6338-8776 AS florists prepare to make a killing this Valentine’s Day, at least one F&B joint won’t be contributing a cent to their coffers (and will be encouraging its patrons to do the same). Indeed,421 words
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PURSUITS
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Article, Illustration557 2011-02-12 7 Kenneth Tay - Markus Storck has been winning awards for his innovative bicycle designs. By Kenneth Tay kwhtay@sph.com.sg KNOWN as the first bike designer to employ tough and light carbon fibre for bicycle frames, Markus Storck, founder of Storck Bicycle GmbH, is steering his company toward greener pastures in its literal557 words
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543 2011-02-12 7 AFP London THE fashion world is desperate to know who Kate Middleton will pick to design her wedding dress when she marries Prince William in April and the palace’s silence is only fuelling the feverish speculation. “It would be better for theAFP - 543 words
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SHOPPING
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Article, Illustration770 2011-02-12 8 / 9 Melissa Lwee - Forget the same old, same old. Make this Valentine’s Day unforgettable with activities specially tailored to kindle the romance. By Melissa Lwee mellwee@sph.com.sg Raffles Hotel AN uber-exclusive suite package from Raffles Hotel that runs until Wednesday, the Raffles Valentine’s Suite Package comes with some prettyPHOTO OF JEWEL BOX: WARREN WEE - 770 words
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TRAVEL
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Article, Illustration1143 2011-02-12 10 / 11 Solvej Schou - ofthtrinthirwtHollywood If you want to see the stars in their sweats, head to the Hollywood Hills, a different world from moviedom altogether. By Solvej Schou AP YOU can see the stars all dressed up on the red carpet at the Academy Awards ceremony. But ifAP; PHOTOS: AP, BLOOMBERG - 1,143 words
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WATCHES
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Article, Illustration1065 2011-02-12 12 / 13 Dylan Tan - There were slim-profiled timepieces aplenty at this year’s SIHH. By Dylan Tan dylantan@sph.com.sg ASSTICK-THINmodels begin to get frowned upon more and more on fashion runways, the reverse is being given the thumbsup at the 21st edition of Salon International de la Haute Horlogerie (SIHH) which ended1,065 words
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GADGETS
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Article, Illustration801 2011-02-12 14 Christopher Lim - Valentine gizmos can be both thoughtful and practical.By practical.By Christopher Lim THE thing about gifting gadgets on Valentine’s Day is that presents for this occasion need to look good and have some sort of bling or wow factor beyond merely having great specs. Looks are especially important when801 words
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HEALTH
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Article, Illustration1093 2011-02-12 15 Cheah Ui-hoon - AposTherapy is a treatment that has relieved pain and improved function in knee osteoarthritis patients by retraining their muscles.By muscles.By Cheah Ui-hoon uihoon@sph.com.sg KNEE and back pains are the most common problems faced by those who are 60 years old and above, with1,093 words
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SPORT
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Article, Illustration725 2011-02-12 16 Lee U-Wen - no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor THE 16th season of the S-League gets underway this evening, and one just gets the feeling that it is really “now or never” for Singapore’s only professional football league to emerge from the doldrums andFILE PHOTO - 725 words
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Article, Illustration618 2011-02-12 16 Andrew Leci - kick off with Andrew Leci IFanyoneaccusesmeofplacinganun-fair North London bias on the first knockout round of this season’s UEFA Champions League, I will thrust my arms in the air, look guilty and declare: “So, shoot me.” While the last-16 line-up in any top618 words
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GOLF
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Article, Illustration1272 2011-02-12 17 Justine Moss - Singapore’s next golfing hope might very well be one of the girls. By Justine Moss btnews@sph.com.sg WHEN discussion centres on who will be Singapore’s next great golf hope, it’s usually the names of young male golfers that crop up. Amateurs such as Johnson Poh, JonathanPHOTOS: IMG - 1,272 words
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MOTORING
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Article, Illustration695 2011-02-12 18 Samuel Ee - BMW has styled the new 6 Series as a ‘grander’ car, more high-end and luxurious than before. By Samuel Ee samuelee@sph.com.sg THE new BMW 6 Series Convertible is styled as a bigger and more luxurious model but it actually drives like a smaller and more nimble sports car.695 words
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Article, Illustration364 2011-02-12 19 Samuel Ee - Samuel Ee examines the high-tech style of the new BMW 6 Series Convertible Samuel Ee samuelee@sph.com.sg THE new BMW 6 Series Convertible can claim a few firsts for the German premium manufacturer. For one, it is the first time a convertible variant based on a particular model is364 words
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Article, Illustration544 2011-02-12 20 Samuel Ee - Besides confident handling and a supple suspension, the Chevrolet Cruze also boasts a navigation and infotainment system. By Samuel Ee samuelee@sph.com.sg SOARING COE premiums may have dealt mainstream Category A cars a speed bump of sorts. But while they may slow down in general, a good value-for-mon-ey product544 words
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Advertisement219 2011-02-12 6 wine&dine with BTWeekend Bar on 5 Level 5, Mandarin Orchard Singapore 333 Orchard Road Z6831-6288 Bar on 5 is the ideal place to chill out and unwind after a hard day’s work. Located five floors above Orchard Road, it provides a fabulous view of the shopping belt. The beverage menu219 words
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Advertisement176 2011-02-12 6 11.30am 2.30pm; Sunday, 10.30am to 2.30pm. Dinner (A la carte only) Monday to Sunday, 6.30pm 10.30pm Marina Mandarin Singapore 6 Raffles Boulevard Z6845-1111 Amore Is In The Air Feb 14,2011 Indulge in the romance of Italy with the one you love this Valentine’s Day at Ristorante Bologna (level 4) with176 words
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Advertisement193 2011-02-12 6 Gourmet Choice Awards 2009, Hua Ting is recognised for its extraordinary dining experience featuring high quality Cantonese cuisine and other provincial specialities by Group Master Chef Chan Kwok and his team of talented chefs. Available for lunch and dinner, signature dishes include Crispy Roasted Duck, Grilled Fresh Scallops and Steamed193 words
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Advertisement200 2011-02-12 6 10 at Claymore Lobby Level, Pan Pacific Orchard 10 Claymore Road Z6831-6686 A New World Order is brewing at 10 at Claymore with the United Plates of America promotion. From now until 6th March, the Plates of Pleasure menu will feature specially-imported US meats. Seize the moment and enjoy nicely200 words
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