The Business Times, 5 March 2011
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2011-03-05
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The Business Times
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Title Section16 2011-03-05 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg MARCH 5-6,2011 S$1.00 MICA(P) 139/08/2010 S|5l A SINGAPORE PRESS HOLDINGS PUBLICATION16 words
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37 2011-03-05 1 currency watch THE European Central Bank’s tough posture against inflation on Thursday sent the euro rising against major currencies yesterday, with a 4-month high of 1.396 against the American dollar. 237 words
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Article32 2011-03-05 1 port gains THIS comes on the back of 6.3% growth in revenue to $4.08 billion, due to “more favourable business conditions and judicious cost management”. 432 words
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Article26 2011-03-05 1 in parliament SINGAPORE’S pursuit of productivity-led growth must run on four levels economy-wide, sectors, trade associations and individual firms, he says. 526 words
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Article33 2011-03-05 1 asset hunt SENIOR officials from China Construction Bank are said to have recently met Malaysian Prime Minister Najib Razak about taking a stake in EON Capital. 633 words
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Article, Illustration624 2011-03-05 1 Andrew Marks - Hirings rise at fastest pace since May last year, but Wall Street falls prey to the overwrought expectations By Andrew Marks btworld@sph.com.sg New York Jsprenalitheif UST in time for the approaching spring, the US jobs market sprouted enough buds in February toREUTERS - 624 words
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1350 2011-03-05 1 Michelle Quah - Susan Lim and Bruneians 1 meeting, 2 versions Surgeon’s account of Jan ’09 meeting differs from that of the Brunei authorities By Michelle Quah michquah@sph.com.sg Singapore WELL-KNOWN surgeon Susan Lim has a very different take on her meeting with Brunei’s health minister in January 2009 than the headlines so far1,350 words
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Page 1 Advertisements
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Advertisement17 2011-03-05 1 the business www.businesstimes.com.sg the raffles conversation PARAG KHANNA, AUTHOR AND GEOPOLITICAL ADVISER 8-9 LIVING Power of two17 words
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Advertisement7 2011-03-05 1 PERSPECTIVE Whistleblowing channels opening in S’pore 28-297 words
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TOP STORIES
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Article, Illustration525 2011-03-05 2 Emilyn Yap - Trichet’s comments surprise market as research houses predict rate hike By Emilyn Yap emilyny@sph.com.sg Singapore THE European Central Bank’s (ECB) tough posture against inflation on Thursday sent the euro rising against major currencies yesterday. The euro strengthened to reach a highBLOOMBERG - 525 words
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95 2011-03-05 2 Bloomberg Hong Kong HUTCHISON Whampoa Ltd will start the Singapore public offering of its Chinese port-asset trust on March 7 and close it at 10am local time on March 14, according to a filing with the Hong Kong stock exchange yesterday. TheBloomberg - 95 words
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Article140 2011-03-05 2 G STI 3,061.31 (+23.96) G STI FUTURES 3,057 (+24) G SIMSCI 359.24 (+2.07) G SIMSCI FUTURES 359.80 (+2.50) STOCKS Friday Change KL COMP 1,522.61 +15.73 NIKKEI 225 10,693.66 +107.64 HANG SENG 23,408.86 +286.44 SET 995.91 +5.83 JAKARTA 3,542.90 +48.36 MANILA 3,882.71 +48.66 KOSPI 2,004.68 +34.02 SHENZHEN B 817.29 +13.30140 words
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Article, Illustration749 2011-03-05 3 Major UK varsity received money from a foundation run by Gaddafi’s son AP London THE director of the respected British university, the London School of Economics and Political Science (LSE), resigned on Thursday amid a controversy over the institution’s links with the family ofAP - 749 words
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455 2011-03-05 4 Joyce Hooi - Total throughput from its global port projects increases 14.4% to a record 65.12m TEUs By Joyce Hooi joyceh@sph.com.sg Singapore PORT operator PSA International posted a 20.8 per cent increase in net profit for 2010, from $976 million to $1.18 billion, yesterday. This came455 words
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Article, Illustration634 2011-03-05 5 Teh Shi Ning - They are economy-wide, sectors, trade associations and individual firms to help companies grow By Teh Shi Ning tshining@sph.com.sg Singapore THERE was no let-up yesterday in the push for productivity, a message that has already dominated many discussions in parliament this634 words
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544 2011-03-05 5 Siow Li sen - Region accounts for 30% of group’s international wholesale revenue By Siow Li sen lisen@sph.com.sg Singapore JP MORGAN is ramping up its global corporate bank in the region with additional hires to get a bigger market share in a rising Asia, said senior544 words
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733 2011-03-05 6 S Jayasankaran - China Construction Bank officials meet Najib to discuss the matter, say execs By S Jayasankaran btworld@sph.com.sg Kuala Lumpur A NEW bid for EON Capital, Malaysia’s seventh largest lender, could emerge in a move that might render meaningless an ongoing court733 words
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Article, Illustration734 2011-03-05 6 Move signals govt’s readiness to relax bank ownership rules Reuters Melbourne MALAYSIA signalled it was ready to ease bank ownership rules and spur more foreign investment, saying yesterday it was open to Australia New Zealand Banking Group (ANZ) doublingReuters; REUTERS - 734 words
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Article, Illustration457 2011-03-05 7 Ven Sreenivasan - Only three of the 11 clubs tracked by BT Golf Index post price gains By Ven Sreenivasan ven@sph.com.sg Singapore THE secondary market price of most golf club memberships in Singapore is down this month compared to March 2010, suggesting a slight easing of demand.Compiled by BT - 457 words
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329 2011-03-05 7 AFP New Delhi A MONK in Bhutan has become the first person jailed under the country’s draconian anti-smok-ing law after a court handed him a three-year prison sentence for smuggling tobacco worth US$2.50. Sonam Tshering was arrested in January carrying 48 packetsAFP - 329 words
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Article477 2011-03-05 7 Television rights bring in US$2.4b while sponsorship sales reap US$1.1b Bloomberg London THE 2010 World Cup in South Africa brought in US$3.7 billion in sales, according to soccer’s governing body Fifa. The bulk of the tournament’s income came from the sale of television rights,Bloomberg - 477 words
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Page 2 Advertisements
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Advertisement61 2011-03-05 2 CONTENTS NEWS Top Stories 2-7 Raffles Conversation 8-9 Week in Review 10 Companies 10-13 From The Desk Of 14 Singapore 15-18 World 18-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-34 Target-date funds 32 Commentary 33 Househunt 34 Real Estate 35 LIVING Shopping/Dining L2-5 Travel L6-7 Destination Dining L8 Home& Garden61 words
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Page 3 Advertisements
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Advertisement459 2011-03-05 3 J+* 9 iProperty.com EXPO INTERNATIONAL COLLECTION 5 6 March 2011, 10am 7pm Sands Expo Convention Centre Marina Bay Sands, Singapore This prestigious event is brought to you by iProperty.com Singapore Singapore's Leading Property Website •snBSRSfSSSIKSSiSS^iS: Award-Winning Property Developers Featuring Developers From Australia, UK, India, Indonesia Malaysia, Singapore Thailand The Property459 words
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Page 5 Advertisements
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Advertisement126 2011-03-05 5 Benefiting from Australia's Mining Boom The North of Western Australia is booming due to the continued expansion of natural resources mining from Iron Ore Natural Gas but that isn't all there is to this exciting investment zone. The natural wonder of the region means that tourism is also on the126 words
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THE RAFFLES CONVERSATION
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Article, Illustration2097 2011-03-05 8/9 Leon Hadar - International relations scholar and author Parag Khanna talks about geopolitics and identity in the post-post-modern world. By Leon Hadar btnews@sph.com.sg PARAGKhanna,adventurer-scho-larextraordinaire,bestsellingau-thor, pundit, former geopolitical adviser to generals (US General StanleyMcChrystal) and celebrities(Bono), hassome great news for the bearish among us. Or does he? Addressing a packed hallFILE PHOTO: PARAG KHANNA - 2,097 words
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WEEK IN REVIEW/WEEK AHEAD
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THIS WEEK Feb 28-March 4, 2011
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47 2011-03-05 10 DEVELOPMENT charges, payable for enhancing a site’s use or for building a bigger project on it, are headed north come March 1, say property consultants. They cite as reasons higher land and property prices over the past six months.47 words
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45 2011-03-05 10 TUNISIAN Prime Minister Mohammed Ghannouchi announced his resignation on Sunday, as security forces clashed with protesters demanding the removal of some ministers of the interim government. Protesters want members of Zine El Abidine Ben Ali’s regime booted out.45 words
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55 2011-03-05 10 HUTCHISON Whampoa’s port unit is set to raise anywhere from US$4.91 billion to US$5.83 billion from the initial public offering of Hutchison Port Holdings Trust, the trust’s preliminary prospectus showed on Monday. The offering South-east Asia’s largest will be backed by Temasek Holdings,55 words
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86 2011-03-05 10 MORE damning accusations were laid at the feet of Susan Lim on Monday, as the court heard how she might not only have grossly marked up her invoices, but might also have double-billed her wealthy Bruneian patient. The Singapore Medical Council sought to86 words
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53 2011-03-05 10 DEVELOPERS are fast-tracking residential property launches, with some rolling out projects just five months after buying a site. This is in stark contrast to a few years ago when most developers took about 12-15 months to launch homes after buying a53 words
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59 2011-03-05 10 IF you are in a rush or want to eat in, you can pick up Sakae Sushi offerings at self-ordering and self-payment kiosks. Sakae is one example Deputy Prime Minister Teo Chee Hean highlighted on Tuesday to show there’s room for productivity improvement even59 words
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78 2011-03-05 10 THE court dealt with “everything and the kitchen sink” on Tuesday, as the Singapore Medical Council sought to refute Susan Lim’s claims that it was biased against her and therefore unfit to try her case. Dr Lim claims that all the charges of78 words
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Article, Illustration95 2011-03-05 10 WAGE costs are shooting up but companies blaming it on the hike in foreign worker’s levy are barking up the wrong tree, Finance Minister Tharman Shanmugaratnam said in Parliament on Wednesday. The real culprit is the labour shortage and withREUTERS - 95 words
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53 2011-03-05 10 THE Singapore Ship Sale Form is reaching eastward. A translated guidance version of the form will be released in Chinese and Japanese on Thursday, in a bid to boost its viability as a contract in a field that is dominated by the53 words
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68 2011-03-05 10 THE four sets of measures to cool the property market announced in September 2009, February and August 2010 and January 2011 have prevented private home prices from spiralling out of control, said National Development Minister Mah Bow Tan on Thursday. In addition,68 words
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76 2011-03-05 10 IN the harshest sentence ever meted out to an independent director for making a false and misleading statement in Singapore, Airocean’s former independent director Peter Madhavan was sentenced to four months’ jail on Thursday. He was the only man out of the five former76 words
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Article95 2011-03-05 10 US DATA March 10 Jan trade balance Treasury budget March 11 Feb retail sales March consumer sentiment Jan job openings SINGAPORE DATA March 7 Feb international reserves EVENTS March 7 ECB President’s comments after central bankers’ meeting European Parliament Plenary Session (to March 10) in Strasbourg95 words
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Page 10 Miscellaneous
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Miscellaneous297 2011-03-05 10 CRYPTIC CROSSWORD Across 1 Prepares for action reason may follow (6,2) 6 It’s out of town and out of the country (6) 9 Promise father a part in the play (6) 10 You’re probably surprised when they go up (8) 11 Pretty girl in crimson and rose (8) 12 Coach297 words
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Miscellaneous18 2011-03-05 10 SATURDAY with Ludwig ‘I can see futures prices of gold and silver in my iPad, not crystal ball18 words
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COMPANIES
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Article, Illustration623 2011-03-05 11 Felda Chay - But analysts say its placement may not have a significant dilutive effect By Felda Chay feldac@sph.com.sg Singapore COMMODITY supply chain manager Noble Group’s shares fell 2.3 per cent yesterday on dilution fears after the company announced a US$500 million share placement which tookREUTERS - 623 words
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613 2011-03-05 11 Joyce Hooi - By Joyce Hooi joyceh@sph.com.sg Singapore AS the fallout from Korea Line’s bankruptcy protection unfolds, at least three Singapore-listed firms or their subsidiaries have been named as creditors in Korean court documents. Golden Ocean Group, STX Pan Ocean and OceanConnect Marine owned by613 words
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Article, Illustration634 2011-03-05 12 Ronnie Lim - EM A lifts ban on extra PNG imports for power generation until end-March 2013, just before LNG terminal starts By Ronnie Lim ronnie@sph.com.sg Singapore GENERATING companies (gencos) and industries here have been given the green light to make interim use of additionalFILE PHOTO - 634 words
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470 2011-03-05 12 Teh Shi Ning - By Teh Shi Ning tshining@sph.com.sg Singapore CDW Holding provided more details late Thursday night relating to the unauthorised bank transfers uncovered between its China subsidiary and an external firm. In response to queries from the Singapore Exchange (SGX), CDW executive director470 words
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Article275 2011-03-05 12 Michelle Tan - By Michelle Tan michtyz@sph.com.sg Singapore IN a bid to sow the seeds of its key brands Banyan Tree and Angsana beyond current pastures, leading international resorts and spa operator Banyan Tree Holdings Ltd has unveiled major hotel developments and refurbishments in its pipeline. Several of275 words
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Article, Illustration558 2011-03-05 13 R Sivanithy - STOCKS R Sivanithy sivan@sph.com.sg Senior correspondent AVOLATILEweekdictated by movements in oil prices and developments in the Middle East yesterday ended with hefty doses of short-covering pushing the Straits Times Index up 23.96 points to 3,061.31. The down-up-down pattern of the previous week558 words
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293 2011-03-05 13 STAR Pharmaceutical, one of two companies placed on the Singapore Exchange’s watch-list on Thursday, is now safely off it. In a statement last night, the company said that SGX had initially placed it on the watch-list as it was not able to293 words
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Article61 2011-03-05 13 BY CENTS CLOSE UP DBXT MSKorea 10US$ 5839 231.8 3.2 DBXT Nifty 10US$ ***** 229.3 1.5 Jardine C&C 3536 108.0 3.2 DBXT E50 10US$ 4522 107.7 1.9 DBXT MSAsExJp 10US$ 3284 106.4 2.6 DBXT FTChina25 10US$ 3147 98.8 2.5 JMH 4800 88.7 1.5 DBXT SPASX200 10US$ 3562 81.161 words
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Article55 2011-03-05 13 BY CENTS CLOSEDOWN GLD 10US$ ***** -160.9 -0.9 DBXT S&P Short 10US$ 4246 -72.2 -1.3 DairyFarm 830 -29.1 -2.7 CityDev 1116 -26.0 -2.3 CityDev.ES.1103 1126 -22.0 -1.9 Venture Corp 934 -13.0 -1.4 DBS Bk 6% NCPS 10 ***** -10.0 -0.1 OmegaNav 155 -10.0 -6.1 Transpac W*****1 111 -9.055 words
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297 2011-03-05 13 Joyce Hooi - By Joyce Hooi joyceh@sph.com.sg Singapore MTQ Corporation is buying a 12 per cent stake in Neptune Marine Services Ltd (Neptune) for A$10 million (S$ 12.9 million) through its subsidiary, Blossomvale Investments Pte Ltd. Neptune, an offshore engineering firm listed on297 words
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Article110 2011-03-05 13 VOL CLOSE Dyna-Mac 98,952 43 -1.0 -2.3 NobleGrp 91,122 213 -5.0 -2.3 GoldenAgri 67,726 70.5 0.5 0.7 GentingSP 59,973 199 4.0 2.1 EMSEner 52,320 5.5 0.0 0.0 NexGenSCom 24,943 4.5 0.0 0.0 ThaiBeverage 24,940 28 0.0 0.0 GMGGlobal 23,250 28 0.0 0.0 *GentingHKUS$ 19,337 40 1.3 2.6110 words
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Article109 2011-03-05 13 Stock name Close Change CapMallsAsia 1.750 +0.010 CapitaLand 3.370 +0.020 CapitaMall 1.820 +0.020 CityDev 11.160 -0.260 ComfortDelGro 1.520 +0.010 DBS Grp 14.200 +0.020 F&N 5.800 +0.150 Genting SP 1.990 +0.040 Golden Agri 0.705 +0.005 HK Land 7.100 +0.260 JMH 48.000 +0.700 JSH 28.220 +0.400 Jardine C&C 35.360 +1.080109 words
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Page 11 Advertisements
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Advertisement68 2011-03-05 11 I, Simon Jack Hamer, bachelor, of 373 Onan Road, #01-03 Malvern Springs, Singapore *****5, intend to marry Ma. Laarni Camalig Pascua, single, of 373 Onan Road, #01-03 Malvern Springs, Singapore *****5, at Asya Premier Suites, Boracay, The Philippines, on 4th June 2011. Any person knowing of any lawful impediment to68 words
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FROM THE DESK OF
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Article, Illustration1110 2011-03-05 14 Ian Wilson - It is a journey that never ends, but businesses that stay the course and remain committed will have an advantage from the desk of Ian Wilson General Manager Fairmont Singapore Regional Vice-President Asia Fairmont Hotels Resorts BUILDING a service culture relies on more than just1,110 words
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SINGAPORE
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552 2011-03-05 15 Teh Shi Ning - But impact will be cushioned by strong S$, natural gas being primary fuel, efficient CCGT plants PARLIAMENT By Teh Shi Ning tshining@sph.com.sg THE ongoing turmoil in the Middle East will not hit local energy supply as Singapore sources most of its energy regionally, although552 words
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351 2011-03-05 15 Linette Lim - By Linette Lim llinette@sph.com.sg IT IS too early to draw definitive conclusions about the long-term economic contribution of the integrated resorts (IRs) or to form a view as to whether we should have more IRs in the future, said Senior351 words
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394 2011-03-05 15 Victoria Ho - By Victoria Ho vhoip@sph.com.sg THE government is injecting $30 million over the next two years into the next phase of its infocomm manpower development roadmap. It has launched a new four-year framework which builds on its first roadmap, launched in394 words
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IN PARLIAMENT YESTERDAY
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Article59 2011-03-05 15 Business environment 45More than 120 organisations have joined the alEnvironmentAgency’sSingapore Packaging Agreement. Improved processes and packaging has cut 4,500 tonnes of waste, saving over $8 million. 45 NEA is on its way to meeting its target of training 1,000 energy managers for companies here by 2013. It co-funds 80 per59 words
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Article111 2011-03-05 15 45 About 1,600 more green vehicles were purchased last year under the Green Vehicle Rebate scheme. As of Dec 2010, there were 8,700 green vehicles on the roads, up from 7,200 in 2009. 45Singapore will adopt Euro V standards for new diesel vehicles by 2014, to further reduce111 words
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Article42 2011-03-05 15 THE expiry of Singapore’s 1961 water agreement with Malaysia will have no impact on water supply and water tariffs here, the Minister of Environment and Water Resources said. Local water sources are sufficient to make up for previously imported water.42 words
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Article639 2011-03-05 16 Chen Huifen - Khaw unveils plans to make S’pore’s healthcare system one of the best in the world in 5-10 yrs parliament| Reports by Chen Huifen xuifen@sph.com.sg IT looks like Singapore is aiming to further transform its already good and affordable healthcare system into one of the639 words
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264 2011-03-05 16 THE new Jurong General Hospital that is under construction will be named Ng Teng Fong Hospital, following a $125 million donation by the family of the late property tycoon. In a statement released yesterday evening, Far East Organization CEO Philip Ng said the264 words
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334 2011-03-05 16 Uma Shankari - By Uma Shankari shankari@sph.com.sg THE Ministry of Trade and Industry (MTI) will introduce new regulations from April 1 to protect users from unsafe consumer goods in Singapore. The Consumer Protection (Consumer Goods Safety Requirements) Regulations 2011 (CGSR) will empower MTI unit Spring Singapore334 words
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Article, Illustration509 2011-03-05 17 Conrad Tan - Insurer confident that growth will continue this year By Conrad Tan conradt@sph.com.sg BRITISH insurer Aviva’s sales of life and pensions products in Singapore more than doubled to £345 million (S$713 million) last year from £155 million in 2009, mirroring the group’s509 words
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Article, Illustration523 2011-03-05 17 Amit Roy Choudhury - By Amit Roy Choudhury amit@sph.com.sg TAIWANESE semiconductor company MediaTek yesterday announced a $120 million investment to ramp up its research and development (R&D) centre in Singapore. MediaTek is one of the world’s leading fabless semiconductor companies specialising in wireless communications and digital523 words
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225 2011-03-05 17 Sean Tan - By Sean Tan seantan@sph.com.sg TEMASEK Trust yesterday announced the appointment of Jacqueline Wong as its new CEO. Ms Wong was formerly a senior partner with leading executive search firm Egon Zehnder International, where she was both the Asia-Pacific leader of the financial services225 words
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412 2011-03-05 18 Chuang Peck Ming - Despite a wobbly recovery, America is still the world’s largest exporter of goods and services By Chuang Peck Ming peckming@sph.com.sg THIS will be the year that the United States takes the lead to build a regional economic framework412 words
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Article, Illustration550 2011-03-05 18 Ronnie Lim - By Ronnie Lim ronnie@sph.com.sg AS the price of its main raw material palm oil continues to climb, Neste Oil yesterday said that it will increase its use of waste feedstock this year to produce its NExBTL renewable diesel. Palm oilREUTERS - 550 words
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327 2011-03-05 18 Mindy Tan - By Mindy Tan tanmindy@sph.com.sg DESPITE low job satisfaction, employees are unlikely to seek new jobs, according to a survey by Accenture. Of the 3,400 professionals surveyed across 29 countries, 57 per cent of women and 58 per cent of327 words
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Page 16 Advertisements
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Advertisement16 2011-03-05 16 IT'S HERE! m 913FM i GET THE FREE 9I.3FM APP NOW! Available on the App Store16 words
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WORLD
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684 2011-03-05 19 The US$70b fund has stakes in top European firms such as British publisher Pearson and soccer club Juventus NYT London AS the battle for control over Libya rages on, the struggle for control of the country’s sovereign wealth fund and its US$70NYT - 684 words
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Article, Illustration463 2011-03-05 19 Bloomberg London AN 18-fold surge in oil-tanker rates in two weeks is a sign that European refineries are rushing to secure cargoes of crude from Libya as an uprising against leader Muammar Gaddafi disrupts supply. Rental income from aframax tankers,Bloomberg; AP - 463 words
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Briefing
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63 2011-03-05 19 Bloomberg Kuala Lumpur MALAYSIA’S exports rose at the slowest pace in three months in January as electronics manufacturers shipped fewer goods to customers in the US and China. Overseas shipments climbed 3 per cent to RM54 billion (S$22.6 billion) from a year earlier afterBloomberg - 63 words
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63 2011-03-05 19 Reuters Canberra A KEY independent Australian lawmaker yesterday backed the proposed Singapore Exchange $7.7 billion bid for the Australian exchange, and said Australia should not be afraid of foreign capital. The Singa-pore-ASX deal could make Australia a regional powerhouse, said independent Rob Oakeshott, whoReuters - 63 words
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66 2011-03-05 19 Standard Poor’s downgrades Toyota AFP Tokyo JAPANESE auto giant Toyota suffered a fresh setback yesterday when ratings agency Standard Poor’s said it had downgraded the carmaker to “AA-” from “AA” citing “weak profitability”. The dropping of Toyota’s long-term corporate credit and senior unsecured debt ratings comes as the world’s biggestAFP - 66 words
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581 2011-03-05 20 Atlanta and Minneapolis Fed chiefs issue the call amid fears of a broader rise in oil prices Reuters St Cloud, Minnesota THE US Federal Reserve is right to carry on with its cheap money policy to fight high unemployment, but policymakers must stayReuters - 581 words
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477 2011-03-05 20 Reuters Canberra AUSTRALIA’S government ordered a review yesterday into disaster insurance and the need for a national disaster fund after recent cyclones and floods in Queensland state left the country with a clean-up bill of around A$10 billion (S$12.8 billion). The review would lookReuters - 477 words
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Article211 2011-03-05 20 Reuters Beijing CHINA will beef up its military budget by 12.7 per cent this year, the government said yesterday, a return to double-digit spending increases that will stir regional unease. Chinese parliamentary spokesman Li Zhaoxing said the defence budget would be 601.1 billion yuan (S$116Reuters - 211 words
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Article, Illustration688 2011-03-05 21 The richest 70 members of the highest state legislative body are worth over 493b yuan Bloomberg Beijing AS Chinese Premier Wen Jiabao this week opens the annual gathering of the National People’s Congress (NPC) with a pledge to shrink China’s wealth gap, his challenge willBloomberg; BLOOMBERG - 688 words
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243 2011-03-05 21 Reuters Jakarta INDONESIA’S central bank kept its benchmark interest rate steady yesterday, but vowed to tackle stubbornly high inflation in an effort to placate market players worried that it is falling behind the curve. Bank Indonesia assured financial markets that it would steadily butReuters - 243 words
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Article386 2011-03-05 21 Feb amount halves to 600b yuan from Jan’s Bloomberg Beijing CHINA’S banks extended less than600billionyuan(S$115.7billion) of local-currency new loans last month, compared with 1.04 trillion yuan in January, the China Securities Journal reported yesterday. Of the total, the four biggest lenders together issued lessBloomberg - 386 words
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Article, Illustration627 2011-03-05 22 Response required to ease supply concerns may take years: IMF Bloomberg Chicago RECORD food prices worldwide may remain high because the output response needed to ease supply concerns may take years, the International Monetary Fund (IMF) said. Increasing incomes inBloomberg; REUTERS - 627 words
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344 2011-03-05 22 Reuters Riyadh SAUDI Arabia’s elderly rulers need to do more than simply spread state largesse if they want to insulate the top oil exporter from Arab protests reaching the kingdom’s borders. Last week, King Abdullah handed out benefits worth US$37 billion to Saudis in anReuters - 344 words
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222 2011-03-05 22 Bloomberg Dubai EGYPT’S bourse, home to the world’s worst-performing benchmark index this year, postponed plans to resume trading for the second time in a week after Prime Minister Ahmed Shafik quit. No date was given for the re-opening. Bourse chairman Khaled Seyam said lastBloomberg - 222 words
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Page 20 Advertisements
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Advertisement7 2011-03-05 20 www.omy.sg i HfestyleoW^ M f V showbiz.omy.sg7 words
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Page 22 Advertisements
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Advertisement20 2011-03-05 22 Tenancy agreementsfor private homes hit 11-year high in 2010 41,573 创去 To subscribe, call 6388-3838 or go to sphsubscription.com.sg20 words
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SGX
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Article10947 2011-03-05 26 Transaction date: Mar 4 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 $mil 21 14.5 3148 8Telecom 18 +0.5 240 18 17.5 17.5 18 7.8 3.4 3.8 86.2 12 4.5 5834 A-Sonic10,947 words
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Article185 2011-03-05 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up. Down Unch Multi Hid 4 a 9 D 0 0 4 3 9 Manufacturing 56 47 73 0 4 11 56 46 84 Commerce 29 12 21 5 "i 2 34 13' 23 Tpt/Stor/Comms 16 9 16185 words
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Article841 2011-03-05 26 For week beginning Feb 28 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Jackspeed Corp Ltd 3-Mar-11 Cheng Kwee Kiang Buy ***** na ***** 27.88 ***** 46.28 Straits Asia Resources841 words
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Article124 2011-03-05 26 TURNOVER ('000) VALUE C00O) MAIN CATL TOTAL MAIN CAJL TOTAL Muir.< »nd 27,011 27,0H 90,210 90,210 Manufacturing 237.761 27,534 265.295 222.710 800 223.510 Commerce 1 49, 62 3 5.592 155,215 264.959 1.018 265.977 Tpt/5tor/Cornrris 92,672 2,552 95.224 174,185 516 174.701 finance 25.769 25,769 178,738 178.738 Construction 12.295124 words
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MARKETS
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Article119 2011-03-05 27 Mar 04 Singapore dollar: so one unit of r orefgn currency. Currencies 5cll Buy Aust dollar 1.325 125 Can dollar 1.327 1.276 Euro 1.803 1.734 Sterling pound 2.102 2.022 NZ dollar 0.963 0.918 US dollar 1.286 1.237 Local dollars to 100 units of foreign currency; Currencies119 words
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374 2011-03-05 27 In local curr In S$ In US$ dy yr dy yr dy yr Mar 3 Index Change Change Change Change Change Change World Index Preliminary 937.3 1.0 4.4 0.8 4.4 0.8 5.4 ‡EAFE Preliminary 826.6 0.6 3.2 0.3 4.1 0.4 5.1 Europe Preliminary 1206.3 0.7374 words
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Article152 2011-03-05 27 Mar 4 Against SS Against uss Currencies Bid Offer Bid Offur SS/L/Sft fo one u/itf of Foreign currency. Australian dollar 1.2831 1.2844 1.0128 1.0130 Canadian dollar 1.3017 1.3029 1.0274 1.0276 Euro 1.7682 1.7700 1.3957 ***** NZ dollar 0.9336 0.9356 0.7369 0.7379 Sterling pound 2,0625 2.0644 1-6280 1.6282152 words
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Article, Illustration92 2011-03-05 27 YTD change: -4.04% 52-week high: 3,313.61 on Nov 9,2010 52-week low: 2,648.15 on May 25,2010 Source: Bloomberg YTD change: +1.62% 52-week high: 24,988.50 on Nov 8,2010 52-week low: 18,971.50 on May 27,2010 Source: Bloomberg YTD change: +5.88% 52-week high: 12,391.20 on Feb 18,2011 52-week low: 9,614.32 on JulySource: Bloomberg - 92 words
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Article85 2011-03-05 27 Mar 3 COCOA 1 1' 1 Close Prow High/Low Mar 11 2405 2354 2413/2363 May 11 2396 2346 2406/2350 Jul 11 2323 2289 2327/2294 Sep 11 2284 2262 2294/2262 COFFEE 'USS/tonn j) Close Pev High/Low Mar 11 2335 2327 2349/2335 May 11 2382 2363 2387/2364 Jul 11 2397 237885 words
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Article68 2011-03-05 27 Mar 4 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett A\> Month Range Price Price High Lew Vol Done Open Position Mat 11 366) 3710 3710 3661 ill 1730 Apr 11 3640 3689 3693 3640 918 ***** May it 3602 3660 3665 3587 ***** 2E674 Jun 11 3573 363068 words
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Article93 2011-03-05 27 Mar 3 SOYBEANS (5,000 bu win; USc/60 «b bushels) dose Previous High/Low Mar 11 1405.*****7.*****6,*****0.00 May 11 1412.*****4.*****4.*****4.50 Jul 11 1419.*****1.*****2.*****2.75 Aug 11 1406.*****0.*****9.*****2.25 SOYBEAN/OIL hn.OOO lbs; USqlbl dose Previous High/Low Mar 11 58.26 58.27 58.76 57.93 May 11 58.77 58.80 59.35 58.30 Jul 11 59.26 59.30 59.8493 words
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Article76 2011-03-05 27 Mar 3 CRUDE USS/barrel (FOB origin) Close Change Brent blend (1-Mth F) 115.05 -2.18 WTI (Near Mth) 101.36 -0.46 Dubai (1-Mth F) 109.62 0.35 Tapis blend 120.45 0.42 Minas 116.25 0.42 PRODUCT USS/barrel (FOB S pore) Close Change Naphtha 109.56 1.68 Jet Kerosene 131.00 0.80 USS/barrel Opec Oil Basket76 words
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Article72 2011-03-05 27 Mar 3 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2580.00 2570.25 3 months 2612.00 2603.00 Copper, Grade A (US$/tonne) Cash 9903.50 9876.50 3 months 9915.00 9890.00 Lead (US$/tonne) Cash 2625.00 2572.25 3 months 2618.00 2564.00 Nickel (USS/tonne) Cose Prevous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (USS/tonnej72 words
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Article67 2011-03-05 27 Mar 4 GOLD (uss/oz) Mar Qa Mar 03 Hong Kong 1418.*****9.30 Mar 03 Mar 02 London 1420.*****8-10 1421.*****8.85 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 43.83 43.61 Source: PLATINUM f Lon (USS/02) Mar 03 Close Previous PM Fix 1841.*****6,00 AM Fix 1846.*****7.00 Source: Thomson Reuters PLATINUM NYMEX67 words
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PERSPECTIVE
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Article, Illustration1164 2011-03-05 28 / 29 Peter Coleman, Dione Schick - The next phases of development include getting staff to speak up, expanding whistleblowing programmes to vendors, suppliers and contractors, and detecting misconduct in organisations. By Peter Coleman, Dione Schick ~Peter Coleman is executive director and Dione Schick a director, at forensic services, Deloitte Singapore1,164 words
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Article, Illustration886 2011-03-05 28 / 29 Leon Hadar - Leon Hadar Washington correspondent IF anyone still had any doubts that the Tea Party movement had become a powerful force on Capitol Hill, he or she would have had to revise the assessment this week. First, the contingency of conservative and886 words
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Wealth
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WEALTH
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Article, Illustration1326 2011-03-05 30 / 31 Christopher Condon - The surge in fee-only advisers has forced mutual fund firms to change how they work and helped propel ETF sales. By Christopher Condon Bloomberg Boston DAVID O’Brien, a 46-year-old financial adviser in Richmond, Virginia, has made Vanguard Group Inc the world’s largest mutual fundBloomberg; AP - 1,326 words
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BROKERS’ TAKE
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Article367 2011-03-05 30 / 31 Overweight OCBC Investment Research March 4 MOST of the companies under our sector coverage reported their fourth-quar-ter 2010 results recently, and with the exception of Sembcorp Marine, Ezion, Swiber and KS Energy, the rest were in line with our expectations. As expected, the rigbuilders continued to367 words
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Article380 2011-03-05 30 / 31 Joyce Hooi - Outperform CIMB Research March 4 Close: $7.23 Compiled by Joyce Hooi SINGLAND, through its associated company United Venture Development, put in the highest bid of $320 million for a Government Land Sale site at Bedok Reservoir Road. The acquisition did not come as a surprise, given SingLand’s strong380 words
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Article, Illustration1000 2011-03-05 32 After the 2008 market collapse, fund managers are de-emphasising stocks and looking to minimise volatility risk AP New York TARGET-DATE fund managers are not saying so outright, but they have apparently learned a lesson from the 2008 market collapse and the furious reaction ofAP - 1,000 words
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Article, Illustration1129 2011-03-05 33 Roger Lowenstein - In 1999, James Glassman co-authored a book that urged investors to load up on shares. The market crashed soon after. Now, he’s proposing a very different game plan. commentary By Roger Lowenstein Roger Lowenstein, author of The End of Wall Street, is a BloombergBloomberg; BLOOMBERG - 1,129 words
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WEALTH REAL ESTATE
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884 2011-03-05 34 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED One Shenton Apt 08/02/2011 99 1130 2245 1986 District 2 NON-LANDED Int'l Plaza Apt 08/02/2011884 words
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366 2011-03-05 35 Average value of a home drops to £162,657; Halifax sees a fall of 2% for the year Bloomberg London HOUSE prices in the UK fell in February, erasing a gain the previous month, according to Halifax, which said that the economic outlook may dampBloomberg - 366 words
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Article, Illustration989 2011-03-05 35 Bloomberg New York ORCHARD Pointe, a 17-year-old vinyl-sided apartment complex in Vancouver, Washington, wouldn’t have drawn a second look from Invesco Real Estate in early 2010, when most multi-fam-ily property investors wanted newer, trophy buildings in coastal markets such asBloomberg; BLOOMBERG - 989 words
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Page 36 Advertisements
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Advertisement49 2011-03-05 1 LivingTHEBUSINESSTIMESWEEKEND|MARCH5-*****BTTHE BUSINESS TIMES WEEKEND MARCH 5-6 2011 TRAVEL Soak in some history L6-7 POWER OF TWO Female duos venture into business L2-5 GADGETS Keeping tabs L12-13 GOLF Spanish inquisition L17 DESIGN Bright star L10-11 HEALTH The art of healing L14 PHOTO: YEN MING MOTORING Peugeot RCZ Motorway model L1849 words
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BT LIVING
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SHOPPING/DINING
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Article, Illustration820 2011-03-05 2 / 3 Jaime Ee - With International Women’s Day just round the corner, BT Weekend looks at female duos who show that running a business is never a one-man show By Jaime Ee jaime@sph.com.sg Cak3 Box 17 Jasmine Road Z6459-0094 www.cak3box.com YOUTH, talent and passion are the best combination to havewhen youwantCAK3 BOX PHOTOS: YEN MENG JIIN, CAK3 BOX - 820 words
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Article, Illustration495 2011-03-05 2 / 3 Melissa Lwee - By Melissa Lwee Pacific Plaza #02-03/04 Z6735-5234 www.laurenjasmine.com SEEING a niche in the market for quality yet interesting workwear, founder of multi-label boutique Eclecticism Hazel Chang and her store manager Liyana Johan decided to fill it with Lauren Jasmine, a label that focuses purely on workwear495 words
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Article, Illustration564 2011-03-05 2 / 3 Melissa Lwee - Shito: Alice Soedirman Cheryl Mok By Melissa Lwee mellwee@sph.com.sg www.shitoonline.com IT is often said that you should never go into business with friends, much less with your best friend. But Alice Soedirman and Cheryl Mok have done just that with local shoe label Shito which is living proof that it’s564 words
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Article, Illustration782 2011-03-05 4 / 5 Felda Chay - Marine Parade Community Club 278 Marine Parade Road #01-03 Z6345-6563 www.scoop-of-art.com IT’S a sight that is hard to miss at the Marine Parade Community Club: a shop with long glass windows painted with what looks like cups of ice cream except they have eyes, mouths and teethSCOOP OF ART PHOTOS: YEN MENG JIIN - 782 words
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Article, Illustration533 2011-03-05 4 / 5 Melissa Lwee - By Melissa Lwee mellwee@sph.com.sg khanacommune.wordpress.com MOST people often believe that their mother’s cooking is the best and public relations consultant Zina Alam is certainly one of them. In fact, so confident is the 27-year old of her mother Mahmuda Alam’s culinary prowess that533 words
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TRAVEL
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Article, Illustration1444 2011-03-05 6 / 7 Jaime Ee - Mukayu, sited on what wasonce an ancient Zen temple of the healing arts, is still a soulful sanctuary. By Jaime Ee jaime@sph.com.sg IF you thought it was only the Japanese people who were a disciplined lot, obsessed with things like order, cleanliness, efficiency and beautifully wrappedPHOTOS: COURTESY OF BENIYA MUKAYU - 1,444 words
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DINING
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Article, Illustration1052 2011-03-05 8 Jaime Ee - The bounty of the Sea of Japan gleams on your plate in Kanazawa. By Jaime Ee jaime@sph.com.sg Mekumi Sushi 4-48, Shimobayashi Nonoichi-machi, Ishikawa-gun, Ishikawa 921-8831 Z+81-762-*****1 YOU often hear of the Japanese chef whose claim to fame is the company of suppliers that he keeps. The more access1,052 words
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FOOD
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Article, Illustration824 2011-03-05 9 Top American chef Grant Achatz recounts the pioneering treatment which saved his tongue and his career AP Life, on the Line: A Chef’s Story of Chasing Greatness, Facing Death, and Redefining the Way We Eat Gotham Books, US$27.50 By Grant Achatz and NickAP - 824 words
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DESIGN
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Article, Illustration1312 2011-03-05 10 / 11 Clarissa Tan - cent of architect do 'terrible stuff', says glamorous architect Zaha Hadid, as she opens her startling opera house in Guangzhou. By Clarissa Tan btnews@sph.com.sg HAS there ever been a more architectural presence than Zaha Hadid? On a smoggy evening in southern China, she sweeps into the spectacular foyer1,312 words
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GADGETS
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Article, Illustration1178 2011-03-05 12 / 13 Christopher Lim - Apple’s iPad 2 hasn’t arrived here yet but it’s not too early to decide if it’s worth saving up for versus the competition. By Christopher Lim limchris@sph.com.sg IF YOU’VE been shopping for a tablet computer, Apple’s iPad has been the unavoidable benchmark. Now that a brand new iPad1,178 words
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HEALTH
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Article, Illustration933 2011-03-05 14 Cheah Ui-Hoon - Art therapy is taking place at hospices in Singapore to help terminally ill patients cope with their situations; counteracting the powerlessness felt in relation to their illness and their physical limitation. By Cheah Ui-Hoon By Cheah Ui-Hoon uihoon@sph.com.sg MUSIC can be used to regulate breathing and933 words
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Article, Illustration1124 2011-03-05 15 Michael Lim - How fast or how slow the heart beats may indicate that a person has a heart condition. By Michael Lim WHILE most people associate chest pain and shortness of breath with heart disease, those with abnormalities of the heart rhythm may experience fast1,124 words
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SPORT
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Article, Illustration716 2011-03-05 16 Lee U-Wen - no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor NEVER have I been part of such a media circus as the one I witnessed first-hand at the Jalan Besar Stadium on Thursday night. A casual observer might well have thought that the Queen of EnglandAP - 716 words
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682 2011-03-05 16 steve dawson - olympic spirit with steve dawson IN THE summer of 2004, I stood at the window of a friend’s swanky new First Avenue apartment in Manhattan. The view, facing east toward Queens, didn’t provide quite the aura of wonder and opportunity that it682 words
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GOLF
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Article, Illustration1179 2011-03-05 17 Justine Moss - Despite the odds against them, two female Spanish golfers are hoping to make their mark. By Justine Moss btnews@sph.com.sg THINK of high-profile professional golfers from Spain and chances are the likes of Olazabal, Garcia, Jimenez, and the legendary Severiano Ballesteros will come to mind. Taking a stab atIMG; GETTY IMAGES - 1,179 words
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MOTORING
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Article, Illustration699 2011-03-05 18 Samuel Ee - Peugeot RCZ cuts a striking figure with its curves and Zagato-inspired double-bubble roof.By roof.By Samuel Ee samuelee@sph.com.sg IT would be all too easy to dismiss the Peugeot RCZ as a fashionable halo model rather than a credible hot hatch. After all, which mainstream sports coupé has a curvaceous699 words
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Article, Illustration559 2011-03-05 19 Samuel Ee - Lexus fan Renny Heng is one of five people in Singapore who have been able to order the limited edition super sports car.By car.By Samuel Ee samuelee@sph.com.sg RENNY Heng loves fast cars as much as fine wine, so it comes as little surprise that he isRENNY HENG PHOTO BY ARTHUR LEE - 559 words
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Article, Illustration511 2011-03-05 20 Samuel Ee - Volvo’s turbocharged V60 T4 not only has respectable handling but is also fun to drive. By Samuel Ee samuelee@sph.com.sg THE high yen isn’t the only reason why the Japanese are getting hammered by the Europeans in the local newcarmarket–theContinentals’ clever powertrain alternatives is another. One perfect example is511 words
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Advertisement809 2011-03-05 4 / 5 wine&dine with BTWeekend Triple Three Level 5, Mandarin Orchard Singapore 333 Orchard Road Z6831-6288 Named after the address of the hotel 333 Orchard Road, Triple Three showcases a sumptuous international buffet spread with over 128 culinary delights and 10 LIVE cooking stations. In addition to the freshest Sashimi and Sushi,809 words
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