The Business Times, 27 April 2011

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Total Pages: 30
1 30 The Business Times
  • 22 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Wednesday, April 27,2011
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  • 816 1  -  Young voters and new citizens have different takes on first-world S’pore By LEE U-WEN [SINGAPORE] They are gearing up to cast their vote at next month’s general election for the very first time. But they see the world very differently. There
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  • 145 1 H ST INDEX 3,171.83 (-15.89) H ST INDEX FUTURES 3,171.00 (-11) H SIMSCI 375.70 (-1.62) H SIMSCI FUTURES 375.30 (-0.80) FOREX US$ S$ US$ (S$ per US$) 1.236 (US$/S$ per 1.651 2.040 EURO (US$/S$/E) 1.460 1.805 Foreign currency per US$ S$ YEN 81.70 66.10 RM 2.992 2.421 HK$
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  • 921 1  -  Several local names sent packing as size and scale matter more, post-crisis By LYNN KAN [SINGAPORE] The big boys are squeezing smaller players out of the hedge fund industry here, with larger funds getting most of the capital in the market and leaving
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  • Page 1 Advertisements
    • 41 1 COMPANIES Hyflux preference shares up 3.1% on debut PAGE 7 TransportHUB STRAIT TALK Another line crossed in piracy crisis I PAGE 20 On-job-napping could help air traffic controllers I PAGE 21 Parallel import trade shrinks further in Q1 I PAGE 22
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    • 10 1 OPINION Donald Trump for US president? PAGE 19 *****1 *****4
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    • 145 1 INDIA Speeding up listing of public sector firms PAGE EXEC MONEY Stay in the long haul for best returns PAGE 28 A home above the pulse of the city. Acres of verdant greenery and water gardens take you to levels of sublime resort escapes. Taking in the last light of
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  • TOP STORIES
    • 668 2  -  Slowing demand, existing stock in S’pore have so far softened impact By SAMUEL EE [SINGAPORE] Car distributors in Singapore are bracing for the impact of disrupted vehicle production in Japan in the months to come. So far the impact has been mixed,
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    • 573 2  -  Reports by VIKRAM KHANNA [SINGAPORE] The Indian government is stepping up its drive to list its public sector companies, according to the Secretary of the Department of Disinvestment in India’s Ministry of Finance, Sumit Bose. Speaking at a forum on Disinvestment
      BLOOMBERG  -  573 words
    • 618 2 WHEREAS the story of China’s economic boom is 30 years old, the “India story” is relatively recent, but is set to get even better, according to the country’s chief economic adviser Kaushik Basu. As savings and investment ratios rise and infrastructure improves, it
      ARTHUR LEE  -  618 words
    • 778 2  -  By MICHELLE QUAH [SINGAPORE] Complying with and navigating through the plethora of growing rules and regulations in Singapore, post-cri-sis, is the single biggest business risk to the organisations of business leaders and CEOs surveyed by The Business Times, in consultation with law firm Rajah
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    • 537 2 Big boys squeeze out boutique hedge funds THE big boys are squeezing smaller players out of the hedge fund industry in Singapore, with larger funds getting most of the capital in the market and leaving boutiques in the lurch sometimes to flounder. The rumblings in the industry have
      537 words
    • 571 4 They dub the newly found cost savings an unexplained shift in strategy Reuters [NEW YORK] Nasdaq OMX Group and IntercontinentalExchange (ICE) warned NYSE Euronext investors to be “highly sceptical” of the additional cost savings that the NYSE says will result from its friendly merger
      Reuters; AFP; REUTERS  -  571 words
    • 652 4  -  By LEE U-WEN [SINGAPORE] There will not be any exam fever, but rather election fever, at nine schools scattered across Singapore today. With classes suspended for Nomination Day today, these are the nine designated Nomination Centres where some 150-plus candidates both from the ruling
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    • 563 4  -  By NISHA RAMCHANDANI [SINGAPORE] The General Election (GE) may not come around every year but when it does, it drums up additional business for local companies. Printing specialists, logistics companies, food beverage suppliers and other service providers that cater to the political parties
      FILE PHOTO  -  563 words
    • 461 4  -  By PAULINE NG in Kuala Lumpur THE company undertaking Malaysia’s controversial national e-mail account has maintained that government agencies are under no obligation to use its services. The only advantage Tricubes has is a “head start” over other competing suppliers that might emerge,
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  • Page 3 Advertisements
    • 43 3 Asset Management Wealth Management Asset Services Fact: families grow. Assertion: so should their investments. j U t V w I Pictet Cie, Geneva-Private Bankers since 1805 Hong Kong: +852 3191 1805 Singapore: +65 6536 1805 askasia@pictet.com www.pictet.com 18 0 5 PICTET Independent minds
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  • Page 4 Advertisements
    • 33 4 Looking for opportunities? March/Aprilissue out now! Available at Esso, Shell and SPC petrol stations and all major bookstores To subscribe ($30 for six issues delivered to your office or home), please call 6388-3838
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  • Page 5 Advertisements
    • 152 5 Chevrolet.com.sg .V- NP9J T. S v- r^r: ■a—--:r-',,i: v <jgj> Available in 2WD or AWD and excellent interior space and s O v 1 CNIFICENT --^-i_CAPTIV »^3l« Bo der, Stronger, and Better. Seats and now available ir sha es The new 2011 Captiva has been re-designed and built to an
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  • COMPANY NEWS
    • 755 6  -  Earnings 3.4 times restated Q1 2010 net profit of $29.8m; revenue jumps 39% By KALPANA RASHIWALA PROPERTY giant CapitaLand reported first-quarter 2011 net profit of $101.5 million, which is 3.4 times the restated Q1 2010 net profit of $29.8 million. The latter was previously reported
      FILE PHOTO  -  755 words
    • 408 6  -  Group’s net profit rises 30.8% to $54.5m in Q1 By KALPANA RASHIWALA PROPERTY group Ho Bee Investment, which posted a 30.8 per cent year-on-year hike in first-quarter 2011 net profit to $54.5 million, has sold 44 strata units at One Pemimpin, a
      408 words
    • 312 6  -  By LYNN KAN STARHILL Global Reit’s Australian and Malaysian buys last year helped buoy first-quarter income distribution to unitholders. Income available for distribution grew 27.9 per cent to $24 million. Of this, $20.8 million is for distribution to unitholders, a rise
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    • 250 6  -  By EMILYN YAP SURGING visitor arrivals and acquisitions helped boost results for CDL Hospitality Trusts (CDLHT) for the first quarter ended March 31. CDLHT a stapled group made up of CDL Hospitality Real Estate Investment Trust (HReit) and CDL Hospitality Business Trust saw
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    • 376 7  -  Issued at $100 apiece, the stock closes at $103.02 on first trading day By JAMIE LEE HYFLUX’S preference shares, issued at $100 apiece, surged as much as $3.10 or 3.1 per cent to $103.10 on its trading de- but yesterday. The stock, traded
      BLOOMBERG FILE PHOTO  -  376 words
    • 340 7  -  By REBECCA LIU DBS Bank has rolled out a new platform to cater to the growing ranks of Asia’s affluent the specially designed DBS Treasures Private Client platform which is the latest in a series of initiatives by DBS in the wealth space. According
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    • 355 7  -  No firm plans yet on parent company selling stake in it By JOYCE HOOI STX OSV Holdings’ counter clawed back some lost ground in trading yesterday afternoon, closing 2.6 per cent higher after the offshore vessel maker clarified reports about its parent company’s plans
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    • 199 7  -  By WONG SU-JIN CREATIVE Master Bermuda is in discussions over a possible acquisition proposal. The company, a contract manufacturer of high quality die-cast collectibles including replicas of cars, trucks, buses, planes, bikes and trains, said this yesterday in response to a query by
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    • 315 9  - Cache posts 12.4m Q1 distributable income DPU of 1.952 cents is 0.6% higher than document forecast By LYNN KAN CACHE Logistics Trust, which listed in April last year, has posted distributable income of $12.4 million in its first quarter, only slightly pipping projections by 0.2 per cent. Its distribution per
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    • 364 9  -  By KELLY TAY CHEUNG Woh Technologies Ltd has posted a record net profit of $17.42 million for the full year ended Feb 28, 2011 (FY2011), up 28.8 per cent from $13.52 million the year before. Revenue rose 21.9 per cent to $151.41
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    • COMPANY BRIEFS
      • 101 9 AVI-TECH Electronics Ltd warned that its pre-tax profit for the third quarter and the full year 2011 will be weaker. It expects its FY2011 pre-tax profit to be lower than the $4.745 million achieved a year ago. This is due to the costs
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      • 108 9 MAPLETREE Industrial Trust announced distribution per unit of 1.93 cents for its fiscal fourth quarter ended March 31, 2011. This is 9.7 per cent higher than forecast. Distributable income was 10.3 per cent higher than forecast at $28.3 million. Tham Kuo Wei, CEO of
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      • 96 9 CHINA Yuanbang Property Holdings issued a profit warning yesterday for its third quarter ended March 31, 2011. The group said it will report a loss for Q3 FY2011 due to a decline in the handover of residential units of its projects in
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      • 44 9 MEMTECH International Ltd reported that its net profit for the first quarter ended March 31, 2011 rose to US$2.71 million, from US$1.04 million a year earlier. Revenue grew 10.4 per cent over the same period to US$33.97 million.
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    • 571 9  -  Group says revenue growth primarily driven by launch of new products By MICHELLE TAN A BETTER product mix, new innovative products and continued strong branding led OSIM International to achieve stellar results in the first quarter of 2011. Net profit in Q1 2011
      FILE PHOTO  -  571 words
  • Page 6 Advertisements
    • 533 6 fAER%CPACE _C.y 7 U THE AEROSPACE SUPPLY ie/' U SHOW OF CHOICE supplie w. >PAs ■&>% Meet and do Business with only the Best in Aerospace Suppliers 27 29 April 2011 Sands Expo and Convention Center, Level 4 Marina Bay Sands, Singapore www.AeroSupplierX.com Aerospace Supplier exchange (ASX) 2011, is a
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    • 156 6 THE SME MAGAZINE PRESENTS BUSINESSRECOVERY WHEN MARKET CONDITIONS CHANGE Chia Kim Piow Chairman Managing Director Rotary Engineering Limited, Businessman of the Year Singapore Business Awards The Singapore Business Awards Businessman of the Year and Enterprise winner will share with SMEs how to react to changing market conditions brought about by
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  • Page 7 Advertisements
    • 475 7 0.9% P.A. INTEREST ON YOUR SAVINGS. 100% LUXURY IN CHINA'S ICONIC RESORTS. Simply open an OCBC Premier Dividend+ Savings Account with fresh funds of S$350,000 and enjoy an interest rate of up to 0.9% p.a. 1 Asa special bonus, you stand to win a luxury holiday 2 for two to
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  • SINGAPORE MARKETS
    • 599 8  -  The selling could be due to a variety of reasons, among them worry about what the outlook holds for risky assets STOCKS R SIVANITHY Senior Correspondent EXPECTATIONS of more weakness on Wall Street and a general absence of interest that was reflected in poor liquidity
      Source: Bloomberg  -  599 words
    • 4 8 DAILY
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    • 66 8 Apr 26 VALUE CLOSE BT OB/OS -191.00 +89.00 BT CADI -*****.00 -51.00 BT 10-day MA -*****.00 -19.00 FTSE ST Mid Cap 773.00 -1.59 FTSE ST Small Cap 555.29 -1.44 FTSE ST All Share 779.93 -3.42 FTSE ST China Top 281.40 -0.28 FTSE ST China 307.88 +0.07 FTSE
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    • 186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 4 4 0 0 0 7 4 4 Manufacturing 41 61 73 9 3 11 50 64 84 Commerce 10 17 33 5 2 3 15 19 36 Tpt/Stor/Comms 12 13 15
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    • BROKERS’ TAKE
      • 406 8 OCBC INVESTMENT RESEARCH, April 26 MODERATED increase in residential index. The latest first quarter 2011 numbers from the URA showed a 2.2 per cent q-o-q increase in the private residential price index the sixth consecutive quarter of moderating increases. However, the OCR (outside central region) index accelerated
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      • 387 8  -  Compiled by JOYCE HOOI April 26 close: $1.57 CIMB RESEARCH, April 26 WING Tai has signed a JV agreement with Singbridge, a unit owned by Temasek, to develop a residential project for around 2,000 homes in Guangzhou Knowledge City in China. This is part of a multibillion-dol-lar
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      • 132 8 Ebit earnings before interest and tax Ebitda earnings before interest, tax, depreciation and amortisation EPS earnings per share FY fiscal/financial year H1, H2 first or second half NAV net asset value 9M nine months P/B price/book value (ratio) PE price/earnings (ratio) Q1, Q2, Q3 first, second, or third quarter
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    • 119 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 48,083 48,083 130,981 130,981 Manufacturing 235,467 19,361 254,828 197,980 2,689 200,669 Commerce 52,379 4,067 56,446 77,648 3,007 80,655 Tpt/Stor/Comms 89,218 9,963 99,181 171,378 1,131 172,509 Finance 16,471 16,471 138,978 138,978 Construction 22,599 140 22,739 6,272
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    • 109 8 Stock name Close Change CapMallsAsia 1.770 -0.020 CapitaLand 3.400 -0.010 CapitaMall 1.900 CityDev 11.700 -0.080 ComfortDelGro 1.540 DBS Grp 14.900 -0.060 F&N 6.270 +0.010 GLP 1.930 Genting SP 2.240 +0.010 Golden Agri 0.670 -0.005 HK Land 7.190 +0.010 JMH 46.540 -1.460 JSH 27.860 -0.640 Jardine C&C
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    • 355 8 CURRENCIES AFP [TOKYO] The euro was softer in Asia yesterday as weak Japanese shares dented investors’ risk appetite, dealers said. The euro retreated to US$1.4528 in Tokyo afternoon trade from US$1.4572 in New York late on Monday. The single European currency also sagged
      AFP; REUTERS  -  355 words
    • 59 8 VOLUME Golden Agri 108,868,000 Genting SP 61,419,000 Youcan 31,417,000 Transcu Grp 27,444,000 Hersing Corp 26,013,000 SunVic 23,522,000 HPH Trust US$ 20,438,000 Tuan Sing 19,249,000 Noble Grp 16,859,000 Yangzijiang 15,996,000 VALUE($) Genting SP 137,231,230 Keppel Corp 94,598,648 Golden Agri 72,553,470 DBS Grp 44,966,440 SGX 40,343,826 SingTel 39,398,470 Noble
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    • 108 8 BY CENTS CLOSE UP IS S&P500 ***** 436.0 2.7 DBXT DBCBDJUBS 10US$ 4000 153.2 3.2 DBXT MSJAP 10US$ 3774 55.6 1.2 DBXT MSMSIA 10US$ 1324 24.7 1.5 DBXT MSPacExJp 10US$ 483 16.1 2.8 Lyxor Malaysia 10US$ 967 12.4 1.0 MOIL 210 8.7 3.4 KepCorp BNPeCW*****2 96 7.5 8.5 ShangriLa
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    • 120 8 BY CENTS CLOSE DOWN GLD 10US$ *****-196.4 -1.1 JMH 4654-180.3 -3.0 DBXT Nifty 10US$ *****-105.0 -0.6 JSH 2786 -79.1 -2.2 Jardine C&C 3622 -70.0 -1.9 DBXT FTChina25 10US$ 3317 -58.1 -1.4 Lyxor China H 10US$ 1729 -56.8 -2.6 DBXT FTVietnam 10US$ 3189 -54.4 -1.4 DBXT MSINDO 10us$ 1478 -39.5
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    • 5 8 DAILY
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  • Page 9 Advertisements
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  • SINGAPORE NEWS
    • 367 10  -  Economists expect weaker industrial production growth in coming months By TEH SHI NING PHARMACEUTICALS led the rebound in manufacturing growth in March, but the 22 per cent year-on-year jump was still under consensus expectations for a 24 per cent increase. This means that
      FILE PHOTO  -  367 words
    • 441 10  -  Figure of 5.7 per 1,000 is lowest since records began in ’98 By TEH SHI NING SINGAPORE’S strong economic growth last year bolstered the labour market, which saw a sharp fall in the proportion of workers laid off, and improved re-employment prospects
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    • 174 10 FROM today (Nomination Day) till May 14, candidates contesting in the General Election as well as those who are returned unopposed, or their election agents, may apply for permits to conduct post-election vehicle processions to thank voters and constituents, the Singapore Police Force (SPF) said
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    • 414 10  -  By MINDY TAN JAPAN needs to further engage Asean and relook its engagement with the US and other major powers, as power inexorably shifts from the Western world to the East. That was the general sentiment at yesterday’s Eighth Japan-Singa-pore symposium. Pointing out
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    • 419 10  -  L Capital courting S’pore companies after taking 20% stake in Charles Keith By NISHA RAMCHANDANI L CAPITAL, the private equity arm of luxury giant Louis Vuitton Moet Hennessy (LVMH), has launched a fund to invest in promising companies in fast-growing markets such as China,
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    • 504 11  -  Together, the 99-year-leasehold parcels could yield 1,175 housing units By EMILYN YAP THE Urban Redevelopment Authority (URA) yesterday released for sale three private residential sites which can together yield about 1,175 units. This comes a day after official data showed a record
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    • 265 11 THE refund of $82 million worth of radio and television (RTV) licence fees that were collected prior to the abolishment of the 48-year-old scheme is now complete. The Media Development Authority (MDA) said in a statement yesterday that it finished mailing out
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    • 334 11  -  By UMA SHANKARI BEDOK Point, which officially opened yesterday, is 98 per leased at an average rent of $11 per square foot (psf), owner Frasers Centrepoint said yesterday. The mall, which is located next to Bedok Town Centre, is the developer’s newest neighbourhood
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  • Page 10 Advertisements
    • 1290 10 n isiinsusua.t; lllIN^f^KiUIHNIllllKia SING INVESTMENTS FINANCE LIMITED Incorporated in the Republic of Singapore Company Registration No. *****0348D IMPORTANT The financial information as set out below contains only a summary of the information in the financial statements of Sing Investments Finance Limited and the consolidated financial statements of the Group for
      1,290 words

  • Page 11 Advertisements
    • 18 11 Pacify the Raging Bull Call 1800 289 8822 or e-mail notices@sph.com to place your Apology Notices MA NOTICES
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    • 278 11 ASSET CLASS GROUP AWARDS AWARD/CATEGORY Franklin Templeton Investments Best Group over 3 Years/ Mixed Assets EQUITY AWARD/CATEGORY Franklin European Growth Fund Best Fund over 5 Years/ Equity Europe Franklin European Small-Mid Cap Growth Fund Best Fund over 3 Years/ Best Fund over 5 Years/ Equity Europe Small and Mid Caps
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  • ECONOMY WATCH
    • 578 12 They may push another 64m into extreme poverty and cut growth: ADB AP Reuters [HONG KONG] World food prices that surged 30 per cent in the first two months of the year threaten to push millions of Asians into extreme poverty and cut
      AP; Reuters; AFP  -  578 words
    • 359 12 Reuters [WASHINGTON] US states are short US$1.26 trillion in paying for public employee pensions and other retirement benefits, a gap that grew 26 per cent in one year and will take many more years to wipe out, according to a report released yesterday.
      Reuters  -  359 words
    • 362 12 Aramco is concerned about their impact on global economy Reuters Bloomberg [SEOUL] Top oil exporter Saudi Arabia is uneasy with high oil prices and concerned about their impact on the global economy, the chief executive of state oil firm Aramco said yesterday. “We
      Reuters; Bloomberg  -  362 words
  • Page 12 Advertisements
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  • MALAYSIA/INDONESIA
    • 539 13 The China premier adds that bilateral relations have a bright future Bernama [BEIJING] Chinese Premier Wen Jiabao has described Malaysia as a “good brother and close neighbour” and that bilateral relations between China and Malaysia would have a bright future. He also said
      Bernama  -  539 words
    • 632 13 Bloomberg [SINGAPORE] Indonesia’s efforts to reduce subsidies and cut corruption are faltering, threatening to undermine a stock market that is already underperforming the Asian benchmark. The back-pedalling may hamper a revival in growth that has put Indonesia’s credit rating one step
      Bloomberg  -  632 words
    • 537 13 It has sought green light from Bank Negara to start talks Bloomberg [HONG KONG] China Construction Bank Corp, the world’s second-largest lender by market value, has expressed interest in buying Malaysia’s EON Capital Bhd, two people with knowledge of the matter said. The Beijing-based bank
      Bloomberg  -  537 words
  • Page 13 Advertisements
    • 260 13 JPMorgan Global Natural Resources Fund We believe there's only one natural choice for Singapore investors. JPMorgan Global Natural Resources Fund offers easy access to a broad range of energy, metals and mining stocks in a single fund. As the world turns to nature to drive growth, make sure your investment
      260 words

  • GREATER CHINA/INDIA
    • 460 14 PM Gillard’s visit was also intended to boost ties, smooth over recent spats AP [BEIJING] Australia and China signed a series of cooperation agreements yesterday at the start of a visit by Prime Minister Julia Gillard intended to boost ties and smooth over
      AP  -  460 words
    • 491 14 They say any battle for succession could taint guru’s legacy AFP [NEW DELHI] Deep grief in India over the death of guru Sathya Sai Baba is compounded by one practical concern among followers: who will run his hugely wealthy trust and its myriad
      AFP  -  491 words
    • 428 14 AP [BEIJING] Chinese protectionism has increased since the 2008 global crisis and US companies are being hurt by Beijing’s policies aimed at developing its technology industries, a business group said yesterday. A report by the American Chamber of Commerce in China adds to mounting
      AP  -  428 words
    • 286 14 It comprises a detailed list of trades that it would encourage, restrict or ban Reuters [BEIJING] China’s economic planning agency yesterday published a detailed list of industries that it would encourage, restrict or ban, a blueprint that could have a far-reaching impact on investment activity in
      Reuters  -  286 words
    • 592 14 Regulator said to fix levels a tad above 11.5% minimum Bloomberg [SHANGHAI] China’s banking regulator has set capital targets for the nation’s five biggest lenders above the minimum 11.5 per cent ratio amid concern that credit risks may rise, three people with
      Bloomberg  -  592 words
  • Page 14 Advertisements
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    • 13 14 Govt cooling measures will not work? Haikou declines torigidly conformto "buying restrictions" Tosubscribe,call6388-3838orgotosphsubscription.com.sg
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  • Page 15 Advertisements
    • 1440 15 Financial Results Year Ended 31 December 2010 SUMMARISED FINANCIAL INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2010 The following Financial Statements contain only a summary of the information in the full financial statements and directors' reports of DBS Group Holdings Ltd and its subsidiaries (the Group) and DBS Bank Ltd
      1,440 words

  • WORLD
    • 467 16 Improving labour market helping Americans weather rising fuel costs LATEST US DATA Bloomberg [WASHINGTON] Confidence among US consumers increased more than forecast in April, signalling the improving labour market is helping Americans weather rising fuel costs. The Conference Board’s confidence index rose
      Bloomberg  -  467 words
    • 461 16 Reuters [MILAN] French dairy group Lactalis yesterday launched a 3.4 billion euro (S$6.1 billion) takeover bid for rival Parmalat, prompting intervention by Italy and France to defuse a row over control of the Italian company. Lactalis will pay 2.6 euros per Parmalat
      Reuters; REUTERS  -  461 words
    • 426 16 Strength of the franc ate into overseas profits, bank says AP [GENEVA] Swiss bank UBS AG reported a smaller-than-expected 18 per cent drop in first quarter net profit yesterday as the strength of the Swiss franc ate into overseas profits,
      AP  -  426 words
    • 415 16 AFP [TOKYO] Japan’s brash Livedoor Internet tycoon Takafumi Horie will be jailed after losing his final appeal against a conviction for accounting fraud, a judicial official said yesterday. Horie, 38, was sentenced to 21/2 years by the Tokyo district court in 2007 for
      AFP; AP  -  415 words
    • 489 16 Bloomberg [LONDON] Yields on government securities from Greece, Ireland, and Portugal reached records amid speculation the heavily indebted nations won’t be able to avoid restructuring. Ireland’s two-and 10-year yields rose to records after the European Union (EU) said the nation’s debt burden surged
      Bloomberg  -  489 words
    • 481 17 Sentiment dims even as earnings beat analysts’ estimates Bloomberg [NEW YORK] The biggest percentage drop in quarterly revenue in three years, driven by lower lending and reduced fees, is damping investor appetite for shares of the six largest US banks. Net revenue at
      Bloomberg  -  481 words
    • 489 17 Reuters [SYDNEY] China’s Minmetals Resources bowed out of the battle for copper miner Equinox Minerals yesterday, saying Barrick Gold Corp’s C$7.3 billion (S$9.5 billion) bid was too rich to justify a counter-offer. Canada’s Barrick, the world’s largest gold miner, announced its agreed
      Reuters; REUTERS  -  489 words
    • 536 17  -  Another official says damaged factories could be running again next month By ANTHONY ROWLEY in Tokyo RECONSTRUCTION in Japan after the devastating earthquake and tsunami on March 11 will take “ten years” to complete, chairman of the Japanese government’s Reconstruction Design
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  • Page 16 Advertisements
    • 974 16 :*ATci NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF MIRAPRIMA INVESTMENT PTE. LTD. Company Regn No *****0575G (In Voluntary Liquidation) NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50, that a Final General Meeting of the members of
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  • Page 17 Advertisements
    • 146 17 IPO PERIOD •GlobalFirstStateGlobal Agribusiness 4 April 2011 29 April2011Agribusiness Invest in assets that sustain the world. First State Global Agribusiness. With the world’s population set to grow by 40% in 2050, large-scale commercial farming, processing, supply and support will play a major role in feeding an estimated 9 billion people.
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  • EDITORIAL & OPINION
    • 948 18  - Troubles at another S-chip with a twist China Sky case highlights a conflict between an ID’s role as AC chair and his firm’s role By MAK YUEN TEEN The writer is an associate professor at the NUS Business School MOST of the troubles faced by Chinese companies listed in Singapore
      FILE PHOTO  -  948 words
    • 753 18  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter@FrankChing1 THE ongoing political crackdown in China, whose most prominent victim so far is the artist Ai Weiwei, followed calls on the Internet for a “jasmine
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    • 532 18 EDITORIAL THE Singapore Exchange’s (SGX) recent abortive takeover of the Australian Stock Exchange has now refocused attention on the need for SGX to grow organically as well as seek out foreign partners. In this regard, one area sorely in need of reviving is SGX’s second
      532 words
    • 1332 19  -  The host of NBC reality show The Apprentice may well defy conventional wisdom and make his way to the White House LEON HADAR Washington Correspondent THE conventional wisdom in Washington these days is that billionaire Donald Trump will probably not be elected as the next US
      AP  -  1,332 words
    • 866 19  -  By DAVID BROOKS NYT ON one level, American politics looks amazingly stable. President Barack Obama’s approval rating is about 47 per cent, and it hasn’t changed much in well over a year. Healthcare reform is mildly unpopular, and the public’s view hasn’t shifted much since before it
      NYT; AFP  -  866 words


  • TransportHUB
    • 1175 20  -  Somali pirates have shifted the issue from being just between shipowner and pirates to between pirates and a government STRAIT TALK By DAVID HUGHES ONCE again piracy pushes its way back onto this column. Now Somali pirates may have done something that could
      AFP  -  1,175 words
    • 417 20 Reuters [SINGAPORE] Rates for crude tankers on key Asian freight routes are expected to remain under pressure this week as supplies continue to outweigh demand. For clean tankers, rates are seen rising to fresh 2011 highs on strong Asian demand for
      Reuters  -  417 words
    • 284 20 Reuters [SINGAPORE] Global demand growth for seaborne containers, a key indicator of global economic activity, fell sharply in the first quarter as traffic slowed following last year’s double-digit expansion, an industry consultancy group said yesterday. Soaring oil prices and inflation in emerging economies were expected
      Reuters  -  284 words
    • 278 20 SGX '000 Apr 26 S$ +/-Vol CH Offshore 0.45 unch 79 Chuan Hup Hldg 0.23 -0.01 70 Cosco Corp 2.34 unch ***** CWT Ltd 1.36 -0.01 668 Ezra Hldgs 1.69 0.01 2173 First Ship Lea 0.41 -0.01 279 Freight Links 0.07 unch 456 Grand Banks unch unch 0
      278 words
    • TRANSPORT HUB: AVIATION
      • 829 21 Specialists say that finding shows manufacturing defects NYT [WASHINGTON] Federal investigators said that they had discovered flaws in the riveting of the roof of the Southwest Airlines plane that tore open in flight on April 1, a finding that specialists said probably showed manufacturing
        NYT; AP  -  829 words
      • 357 21 AP [WASHINGTON] On-the-job naps should be considered as part of a plan to address fatigue by air traffic controllers, airline pilots and others who work overnight shifts, a National Transportation Safety Board member said. There is an abundance of scientific studies that show short naps of
        AP  -  357 words
      • 386 21 Reuters [WASHINGTON] The US Defense Department ended a contract with General Electric Co and Rolls-Royce Group plc on Monday for an alternate engine for the F-35 Joint Strike Fighter. The Pentagon for five years argued the second engine was an unnecessary
        Reuters  -  386 words
      • 3299 21 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ457 1300 SQ456 1245 EY470 2220 NH6370 2220 VA7470 2220 Adelaide LH9771 1745 9W4082 2225 SQ278 1745 AF8088 2225 VS7278 1745 AY5011 2225 BA7382 2225 JL7893 2225 MU8439 2225 QF82 2225 --LH9770 2350 SQ279 2350 VS7279 2350 Ahmedabad NH6293
        3,299 words
    • TRANSPORT HUB: LAND
      • 718 22  -  Smaller COE quotas and higher COE premiums take their toll on market Reports by SAMUEL EE [SINGAPORE] The parallel import (PI) trade has continued to shrink, and oncepopular Toyota has made way for BMW as the top grey import brand here. In the
        718 words
      • 337 22 [SINGAPORE] Toyota is still Singapore’s top make, but luxury marque BMW is now a close second. In the first three months of 2011, the world’s biggest automaker remained the republic’s most popular with total new car registrations of 1,179 units, according to the Land Transport
        337 words
      • 312 22 AP [MUMBAI] Honda’s India unit will halve car production because of a shortage of components following the March tsunami in Japan, while Toyota Motor Corp is cutting production by 70 per cent. Honda’s plant outside the capital New Delhi, which can turn out
        AP  -  312 words
      • 647 22 Reuters [SHANGHAI] General Motors Co (GM) killed its minivan in the US market thanks to its soccer-mom stigma, but the automaker has carved out a highpriced niche for the vehicle as a chauffeur-driven executive ride in China. While many American families have
        Reuters; BLOOMBERG  -  647 words
      • 314 22 Shutdown due to shortage of parts after Japan earthquake Reuters [DETROIT] The Ford Motor Co will idle plants in Taiwan, China and South Africa beginning this week due to the shortage of parts from Japan after the March 11 earthquake and
        Reuters  -  314 words
  • Page 20 Advertisements
    • 46 20 Tuckinto THEGREAT outoockCHARITY CEO Feast on fried oyster omelette cooked by Mr Kenny Yap, Executive Chairman and Managing Director Qian Hu Corporation Feel good because all proceeds go to charity When: Friday (7-9pm) Where: Food Republic Beer Garden at St James Power Station the new paper
      46 words

  • Page 21 Miscellaneous
    • 322 21 CRYPTIC CROSSWORD Across 1 I get slab prepared outside fish market (12) 9 Clothes stoutly made, top to toe (9) 10 Jewel with tip of ruby set in ring (5) 11 Voracious Attila facing Goths, readily yielding initially (6) 12 Hard compiler, plus, as admitted, fair (8) 13 Shouted with
      322 words


  • SINGAPORE STOCKS
    • 8435 23 Transaction date: Apr 26 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 14.5 8Telecom 17cd unch 50 17 17 16.5 17.5 7.8 3.6 3.6 81.4 12 4.5 A-Sonic 7.5cd +0.5 1001
      8,435 words
    • 1556 24 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 6.5 4 t AA Grp 4.5 +0.5 359 4.5 4.5 4 4.5 21.4 4.3 220 145 t APStrategic 160 -10 2 160 160 160
      1,556 words
    • 9684 24 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.4/ APS Alpha Fund (USD)!** 1.13/ APS Alpha Fund Cl B SGD!** 1.2/ APS Alpha Fund Cl B USD!** 0.89/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM
      9,684 words
    • 231 24 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 38 AVJennings A53 49 52 3.6 6.6 4.2 138 55 16 Genting HK US$ US44 -0.5 7973 44.5 43.5 43.5 44 2897.2 21 10 Over&Gen A14
      231 words
    • 829 24 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124 108 ABF SG Bond ETF 114 +2 26 114 113 114 115 520.4 1075 761 CIMBAsean40 100US$ US1060 1017 1092 42.4 350 270 DBS STI
      829 words


  • FINANCE & COMMODITIES
    • 374 25 In local curr In S$ In US$ dy yr dy yr dy yr Apr 25 Index Change Change Change Change Change Change World Index Preliminary 929.1 -0.2 3.5 -0.2 2.2 -0.3 6.0 EAFE Preliminary 806.5 0.0 0.7 -0.2 1.9 -0.3 5.6 Europe Preliminary 1200.8 0.0
      374 words
    • 185 25 Apr 26 Apr $S Offer Bid 0vernight 1/8 1/16 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.20 US$ Offer Bid 7 days 0.23 0.13 1 month 0.33 0.23 2 months 0.38 0.28 3 months 0.42 0.32 6 months 0.52 0.42 9 months 0.75 0.55
      185 words
    • 22 25 Apr 26 S$ Bid Offer 1-month 1.2352 1.2362 2-months 1.2352 1.2362 3-months 1.2352 1.2362 6-months 1.2351 1.2361 Source: OCBC
      22 words
    • 121 25 Apr 26 As at 9am Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.368 1.291 Can dollar 1.319 1.269 Euro 1.831 1.761 Sterling pound 2.077 1.998 NZ dollar 1.016 0.968 US dollar 1.255 1.207 Local dollars to 100 units of foreign
      121 words
    • 27 25 Apr 26 Open High Sett STI Apr 3171 SIMSCI Apr 375.9 376.3 375.3 Taiwan Apr 317.2 317.8 317.1 Source: MF Global (S) Pte. Ltd
      27 words
    • 69 25 Apr 26 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett MmitR Rnnnp Prirp Pi Av 'ice Hicih Low Vol Done P( Open jsition May 11 3368 3387 Jii WW" 3405 3365 1846 7706 Jun 11 3339 3355 3362 3316 2047 ***** Jul 11 3320 3330 3342 3291 ***** *****
      69 words
    • 462 25 Apr 26 Apr 26 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Jun11 99.7000 0 3432 Sep11 99.6350 0 2357 Dec11 99.5300 0 1078 Mar12 99.3550 0 5577 EUROYEN TIBOR FUTURES Jun11 99.6750 0 5402 Sep11 99.6725 2 1533 Dec11 99.6650 0 1953 Mar12 99.6525 0 3672
      462 words
    • 164 25 Apr 26 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) May 11 561.7 Jun 11 553.3 Jul 11 545.0 Aug 11 524.0 524.0 523.5 5 Sep 11 510.8 Oct 11 500.0 500.0 500.0 25 Nov 11 500.0 500.0 500.0
      164 words
    • 83 25 Apr 26 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 28.07.2011 0.26 0.23 0.23 1-Year BY*****N 01.11.2011 0.34 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0V 1.625 01.04.2013 102.24 102.26 102.25 5-Year N*****0W 1.125 01.04.2016 100.00
      83 words
    • 107 25 Apr 25 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low May 11 1389.50 1380.50 1391.75 1372.00 Jul 11 1396.50 1389.75 1398.50 1380.75 Aug 11 1394.50 1389.50 1395.75 1380.50 Sep 11 1388.25 1385.25 1389.50 1377.00 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low May 11 58.21
      107 words
    • 77 25 CRUDE OIL PRODUCTS Apr 25 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 123.15 -0.49 WTI (Near Mth) 112.21 1.44 Dubai (1-Mth F) 117.62 0.42 Tapis blend 131.73 0.15 Minas 128.13 0.15 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 118.50 0.11 Jet Kerosene 138.70 -0.95 US$/barrel Opec Oil
      77 words
    • 2702 25 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left AFP Properties EW*****8 22 unch 5 1 10 -11 1.64 55 Asia-Pacific Strategic W*****6 24 1 150 9 6.67 37 ASJ Hldgs W*****1 1.5 1 4 10 3.33 10 AlliedTech W*****2
      2,702 words
    • 464 25 Apr 26 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.021 6.996 0.734 8.334 47.761 92.670 0.876 11.624 3.207 1.337 90.692 46.383 1.325 7.219 0.941 30.999 32.132 0.649 1.072 Canada 0.980 6.853
      464 words
    • 85 25 Apr 26 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
      85 words
    • 138 25 Apr 26 GOLD (US$/oz) Apr 26 Apr 21 Hong Kong 1505.50 1508.00 Apr 21 Apr 20 London 1503.65 1503.61 1504.45 1504.38 Source: Thomson Reuters CAST BAR Apr 26 (S$) Selling Buying Kilobar 63,792.33 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 143 60 5gm 406 298 10gm 725
      138 words
    • 70 25 Apr 21 Apr Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2734.00 2718.00 3 months 2745.00 2730.00 Copper, Grade A (US$/tonne) Cash 9681.50 9555.25 3 months 9705.00 9580.00 Lead (US$/tonne) Cash 2635.00 2646.00 3 months 2601.00 2612.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash
      70 words
    • 154 25 Apr 26 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3238 1.3253 1.0717 1.0722 Canadian dollar 1.2967 1.2983 1.0498 1.0503 Euro 1.8036 1.8056 1.4602 1.4607 NZ dollar 0.9900 0.9912 0.8015 0.8019 Sterling pound 2.0394 2.0415 1.6511 1.6516
      154 words
    • 82 25 Apr 21 COCOA (£/tonne) Close Prev High/Low May 11 1874 1912 1916/1871 Jul 11 1890 1922 1918/1887 Sep 11 1908 1937 1934/1905 Dec 11 1925 1957 1951/1922 COFFEE (US$/tonne) Close Pev High/Low May 11 2408 2454 2449/2400 Jul 11 2435 2482 2475/2406 Sep 11 2456 2501 2495/2423 Nov 11
      82 words

  • 5366 26 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN Camden/New Orleans/Tampico Destination SIAM JADE Muscat/Sharjah/Doha/Bahrain/Dammam
    5,366 words
  • Page 26 Advertisements

  • Page 27 Advertisements
    • 56 27 Importers looking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 ■I- THE BUSINESS TIMES SHIPPING TIMES FREIGHT FORWARDER urgently needed by shippers TO ADVERTISE, CALL JOE WONG AT 9620 Can they find your services here in the Shipping
      56 words

  • executive Money
    • 949 28  -  Also, 100 years of data support the diversification argument, reports GENEVIEVE CUA reports GENEVIEVE CUA FUTURE long-run returns from bonds, which have delivered stellar returns over more than two decades, are likely to be lower, and there is the possibility of
      Source: Elroy Dimson, Paul Marsh, and Mike Staunton, Triumph of the Optimists ; authors’ updates  -  949 words
    • 1816 29  -  It has driven bull and bear phases in investment markets and is responsible for irrational decision-making and collective behaviours SHANE OLIVER UP UNTIL the 1980s the dominant theory was that financial markets were efficient in other words all relevant information was reflected in asset prices and
      Source: Russell Investments  -  1,816 words
  • Page 28 Advertisements
    • 123 28 DIGITAL REALTY TRUST IS HERE. THE ULTIMATE FACILITY TO HOUSE YOUR DATA CENTRE IS NOW IN SINGAPORE. Owned and operated by Digital Realty Trust, the world’s largest wholesale data centre provider, 29A International Business Park, Jurong is Green Mark Gold Certified and features 34,000 square meters of floor space. Designed
      123 words

  • Page 29 Advertisements
    • 557 29 FOR SALE BY TENDER 333 thomson road Estate Agent License No. L*****25E District 11 Freehold •12 out of 20 Duplex Units Elevated Ground Fully Tenanted: Immediate Returns Tender Closing 26thMay 2011, 2.30pm INVESTMENT SALES 6533 0220 Gold x>> Stocks Bonds F Gold Commodities FX Crosses FX Options Bonds ETCs CFDs
      557 words

  • Page 30 Advertisements
    • 249 30 §k I Hi JS! 0/M m m s>. V m m 9 W 7\ v iim t: > i "V •y. »a V Tmrrr -sj'-'z*. '"is." ?TJ:.aa v >■- •V s; «\s "V su ■VI K'.ljw 4* )*>W VJt u5 3^ K «V C7 KNOWING THERE'S NOTHING MORE PRECIOUS THAN
      249 words