The Business Times, 30 April 2011

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Total Pages: 54
1 28 The Business Times

  • TOP STORIES
    • 820 2  -  From Hougang property prices to foreigners, he weighs in strongly on election debate By Lee U-Wen leeuwen@sph.com.sg Singapore MINISTER Mentor Lee Kuan Yew stamped his presence on this year’s election campaign as he attackedtheOpposition’sproposals, point by point. Speaking to reporters yesterday
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    • 269 2 Singapore THE People’s Action Party has started schemes to help the low-er-income families cope with rising costs of living, but implemented policies will take time to kick in. Prime Minister Lee Hsien Loong said at the PAP rally at Yio Chu Kang
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    • 78 2 IN the report “Ex-Shook Lin Bok partner fined $50K for insider trading” (BT, April 29), we said that Song Qing, a former employee of Shook Lin Bok LLP, was the legal adviser to Bright World’s majority shareholder for China Holdings’ takeover offer for Bright World shares. This is incorrect.
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    • 139 2 H STI 3,179.86 (-5.13) H STI FUTURES 3,159 (-26) H SIMSCI 374.72 (-1.52) H SIMSCI FUTURES 370.60 (-5.10) STOCKS Friday Change KL COMP 1,534.95 -0.35 NIKKEI 225 Closed HANG SENG 23,720.81 -84.82 SET 1,093.56 +1.25 JAKARTA 3,819.62 +10.69 MANILA 4,319.51 +40.68 KOSPI 2,192.36 -15.99 SHENZHEN B 799.99 +15.09 MUMBAI
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    • 640 4  -  Most resellers report sellouts after queues formed outside their stores from as early as 11.30pm the night before By Victoria Ho vhoip@sph.com.sg Singapore THE iPad 2 was sold out just hours after doors opened yesterday at Apple resellers islandwide. Buyers were
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    • 396 4  -  By Neil Behrmann btworld@sph.com.sg London 45KATE Middleton’s wedding band was fashioned by the jeweller who made Princess Diana’s ring. Royal warrant holders Wartski in Grafton Street, London used a nugget of Welsh gold which was given to Prince William by the Queen as an engagement
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    • 548 5  -  Splinter group of partners and lawyers sets up new firm RHT Law By Grace Leong, Michelle Quah gleong@sph.com.sg michquah@sph.com.sg Singapore IT’S official. A number of KhattarWong’s lawyers and partners, mostly in the corporate, banking, IP, civil and criminal litigations departments, are leaving the law firm for
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    • 962 6  -  Sentiment among Redas members dented by Jan 13 government market cooling measures By Kalpana Rashiwala kalpana@sph.com.sg Singapore THE Redas-NUS Real Estate Sentiment Index (RESI) slipped in the first quarter of this year, as the Jan 13 cooling measures dented sentiment among members ofthe Real
      Source: Real Estate Developers'Association of Singapore, NUS Department of Real Estate  -  962 words
    • 432 6  -  By Lynn Kan lynnkan@sph.com.sg Singapore MANUFACTURERS and service firms remain more upbeat than pessimistic about business prospects in the next six months, although optimism has dimmed since a quarter ago. An Economic Development Board (EDB) survey found a net weighted balance 12 per cent
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  • Page 2 Advertisements
    • 59 2 CONTENTS NEWS Top Stories 2-8 Week in Review 9 Raffles Conversation 10-11 Companies 12-14 From The Desk Of 15 Singapore 16-17 World 18-20 Stocks Stats 21-25 Perspective 26-27 Wealth 28-35 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Dining L2-7 Home Garden L8-9 Luxe Life L10-19 Shopping
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  • Page 3 Advertisements
    • 300 3 Spacious 4-bedroom apartments redefined by luxury BffTagine your family enjoying the lifestyle of Miami, in a residence overlooking a lavish landscape of cascading pools and water features. Next, picture this freehold property in Bukit Timah, with easy access to the upcoming Downtown MRT line and King Albert Park MRT station
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  • Page 5 Advertisements
    • 178 5 "Receiving this award is a testament to the quality of our design and this important credential has given us an added advantage over our competitors." Ulrich Schraudoiph Design Director of XentiQ (Re) Ltd and recipient of the Design of the Year Award in 2007 for the medical equipment, Pediguard PEDIGUARD
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  • GENERAL ELECTION 2011
    • 535 7  -  Job creation dips, likely due to limits on foreign worker inflows By Nisha Ramchandani nishar@sph.com.sg SINGAPORE’S overall unemployment rate fell to a three-year low in March as companies ramped up hiring amid a strong economy. In a reflection of the tight labour market,
      535 words
    • 370 7  -  By Winston Chai winstonc@sph.com.sg THE upcoming May 7 polls may be heralded as the Facebook elections but in Moul-mein-Kallang Group Representation Constituency (GRC), the decisive battle to win voters’ hearts is still being waged offline. “We have a disproportionately large percentage of elderly
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    • 397 7  -  By Jamie Lee leejamie@sph.com.sg TIMES they are a-changin’, sings Nomura, noting that this year’s elections could prompt a review of policies on immigration, property and the casinos if the People’s Action Party sees a significant reduction in the popular vote. Nomura, with other broking
      397 words
    • 485 8  -  It says people’s votes are secret, urges civil servants to not fear voting for Opposition By Jamie Lee leejamie@sph.com.sg THEWorkers’ Party(WP) team in Aljunied GRC has hit back at Foreign Minister George Yeo’s suggestion that its contest in the GRC is
      ARTHUR LEE  -  485 words
    • 457 8  -  By Teh Shi Ning tshining@sph.com.sg ON top of the “national burden” being placed on Aljunied voters, the possibility that more areas than Aljunied may fall to the Opposition is one that complicates their choice further, says Lim Hwee Hua, one of two
      457 words
    • 396 8  -  By Uma Shankari shankari@sph.com.sg SINGAPORE Democratic Party (SDP) candidate Tan Jee Say last night hit back at ministers who have criticised his economic proposals, which call for some $60 billion to be set aside for a National Regeneration Plan. He responded
      396 words
  • Page 7 Advertisements


  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK April 25-29, 2011
      • 47 9 THE Taiwan stock exchange (TWSE) is expected to rack up another record year in new listings, as efforts to woo foreign-based issuers in overseas roadshows pay off. This may set the stage for more competition with the Singapore Exchange.
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      • 52 9 THE government has touched Singapore’s reserves only once and not “for years” as alleged by Workers’ Party chief Low Thia Khiang, National Development Minister Mah Bow Tan said on Sunday. “The government is fiscally prudent. Other than 2009, we have never drawn on
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      • 40 9 THE number of private homes in the pipeline has never been higher. And it is poised to climb even further with the Government Land Sales Programme recently rolling out a large supply.
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      • 75 9 THE impact on business of Japan’s March 11 triple disasters earthquake, tsunami and nuclear crisis began to emerge on Monday as the nation’s second biggest carmaker, Nissan, followed leader Toyota in reporting a steep drop in output and exports for March, and as
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      • 67 9 RON Widdows, the shipping veteran at the helm of Neptune Orient Lines Group, will be replaced by former defence chief Ng Yat Chung when the former retires at the end of this year. Mr Widdows will stay on as senior adviser
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      • 48 9 MINISTER Mentor Lee Kuan Yew had “one simple message” for Singaporeans: “look at the fundamentals” and “not rock the foundation”. He stressed that today’s Singapore did not come about by chance but through planning by earlier generations of leaders.
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      • 62 9 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 boutiques in the lurch sometimes to flounder. The rumblings in the industry have grown louder over
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      • 39 9 THEY are gearing up to cast their vote at next month’s general election for the very first time. But they young Singaporeans and new citizens see the world very differently.
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      • 65 9 THE World Bank on Thursday described Malaysia’s brain drain, the migration of talent across borders, as “intense and elevated”, and said that it could hurt efforts to become a high-income economy. If migration to Singapore was included, it estimated that one out of
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      • 47 9 ECONOMIC growth in Asiawill “remain robust” this year and in 2012 with Japan’s triple disasters unlikely to have any major adverse impact, the International Monetary Fund said in its latest Regional Economic Outlook: Asia and Pacific.
        47 words
      • 72 9 THE battle for the hearts and minds of 2.2 million Singaporeans moves into top gear on Thursday after a drama-packed Nomination Day that saw the Opposition mount its strongest challenge yet to the ruling People’s Action Party. It will contest 82 seats.
        ARTHUR LEE  -  72 words
      • 41 9 THE Republic’s economy is likely to grow at the higher end of the official 4-6 per cent forecast this year, the Monetary Authority of Singapore said on Wednesday in its latest half-yearly macroeconomic review.
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      • 51 9 IT appears that Japan will have to pay a far higher price for the disasters that struck the country on March 11 than it anticipated. Not only will it grow much slower, but it has already seen its industrial output drop by record
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    • 89 9 US DATA May 2 April ISM manufacturing index May auto sales May 3 Q3 gross job gains May 4 April ISM non-manufacturing index May 6 April unemployment rate March consumer credit March non-farm employment survey EVENTS May 2 ECB annual report May 3 Reserve Bank
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  • Page 9 Miscellaneous
    • 324 9 CRYPTIC CROSSWORD Across 1 Strive to cheat as many as possible (2,3,3,3) 9 One may bowl a maiden over, or get a wicket (4,5) 10 Symbol of sovereignty King Charles had to acknowledge (5) 11 Provocative article in communist paper (3,3) 12 Bow Street? (8) 13 Subject matter about right
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    • 8 9 SATURDAY with Ludwig ‘Didn’t you get my SMS?...’
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  • THE RAFFLES CONVERSATION
    • 2194 10/11  - All fillet no bone Canning Fok, group managing director of Hutchison Whampoa, explains why he is bullish about the conglomerate’s port business, and why he has no truck with doomsayers who expect the Chinese economy to start overheating in the near future. By Joyce Hooi By Joyce Hooi joyceh@sph.com.sg CANNING
      ARTHUR LEE  -  2,194 words

  • COMPANIES
    • 708 12  -  Earnings boosted by strong growth in loans and fee income, and lower bad-loan charges By Conrad Tan conradt@sph.com.sg Singapore DBS Group’s net profit rose 52 per cent to a record $807 million in the first quarter from a year earlier, buoyed by
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    • 729 12  -  By Siow Li Sen lisen@sph.com.sg Singapore WEE Cho Yaw, chairman of United Overseas Bank (UOB), was in his element at the bank’s annual shareholders’ meeting yesterday as he showed how in sync he was with the 300plus strong crowd. It was yet another quintessential
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    • 560 13  -  For the full year, net profit slips 1.1% to $1 61.1m By Samuel Ee samuelee@sph.com.sg Singapore HIGHER operating profit, mainly from improved train and bus ridership, boosted SMRT Corp's net profit by 50.3 per cent to $34 million for the fourth quarter ended
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    • 310 13 SINGAPORE Post (SingPost) saw net profit fall 9.6 per cent year on year to $36.97 million for the fourth quarter ended March 31,2011, despite a 5.7 per cent rise in revenue to $141.53 million. Excluding one-off items such as the amortisation of deferred gain
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    • 483 13  -  By Felda Chay feldac@sph.com.sg Singapore THE combination of higher selling prices and sales volumes for palm products helped lift Indofood Agri Resources’ net profit for its first quarter to 514.3 billion rupiah (S$73.6 billion) 66 per cent higher than the
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    • 574 14  -  stocks R Sivanithy sivan@sph.com.sg Senior correspondent THERE were no real surprises in this week’s trading in the local stock market, where daily trading exhibited all the same features that have been present for many weeks now: low volume generated mainly by proprietary desks and
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    • 110 14 VOL CLOSE GoldenAgri 63,566 66.5 -0.5 -0.7 HPHTrustUS$ 51,192 92 -1.2 -1.1 GentingSP 36,299 217 -3.0 -1.4 SingTel 34,297 312 0.0 0.0 Dyna-Mac 33,142 63 -2.5 -3.8 Oceanus 29,314 27.5 3.5 14.6 NobleGrp 25,224 223 3.0 1.4 MapletreeCom 21,966 88 0.0 0.0 Gallant 18,954 43.5 -1.5 -3.3
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    • 109 14 Stock name Close Change CapMallsAsia 1.770 CapitaLand 3.400 -0.020 CapitaMall 1.890 +0.020 CityDev 11.840 +0.100 ComfortDelGro 1.530 -0.020 DBS Grp 14.980 +0.060 F&N 6.270 -0.010 GLP 1.930 -0.020 Genting SP 2.170 -0.030 Golden Agri 0.665 -0.005 HK Land 7.490 +0.090 JMH 48.000 +1.000 JSH 28.400 +0.100 Jardine C&C
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    • 57 14 BY CENTS CLOSE UP Lyxor EmergingMkts 1 1320 147.1 10.0 JMH 4800 122.6 2.1 IS S&P500 ***** 52.7 0.3 DairyFarm 884 30.7 2.9 StraitsAsia.ES.1104 292 24.0 9.0 STXPO 100 1026 20.0 2.0 Great Eastern 1548 18.0 1.2 Hyflux 6% CPS 10 ***** 18.0 0.2 OCBC Bk.ES.1104 951 18.0
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    • 60 14 BY CENTS CLOSEDOWN DBXT Nifty 10US$ ***** -192.5 -1.2 DBXT FTChina25 10US$ 3272 -120.1 -2.9 Jardine C&C 3688 -86.0 -2.3 DBXT MSINDIA 10US$ 1061 -39.2 -2.9 DBXT MSBrazil 10US$ 739 -35.6 -3.8 UOB 1962 -34.0 -1.7 DBXT S&P Short 10US$ 4135 -29.4 -0.6 GLD 10US$ ***** -27.0 -0.1
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    • 338 14  -  By Lynette Khoo lynkhoo@sph.com.sg Singapore A REPORT that Oceanus Group has become the takeover target of a global private equity firm sent its shares surging yesterday. Oceanus shares hit an intraday high of 28 cents in heavy trading and were last traded
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    • 365 14  -  By Mindy Tan tanmindy@sph.com.sg Singapore BRIGHT World Precision Machinery rode the buoyant demand in the Chinese automotive and consumer electronics sectors to post a 67.3 per cent year-on-year increase in first-quarter net profit to 45.7 million yuan (S$8.61 million). Revenue for the
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  • Page 12 Advertisements
    • 169 12 NOTICES IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF KHUSHI SONS PTE. LTD. (IN CREDITORS’ VOLUNTARY LIQUIDATION) COMPANY REGISTRATION NO. *****7351 R Notice is hereby given that at an extraordinary general meeting of the abovenamed company duly convened and held on the 20th day
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  • Page 13 Advertisements
    • 92 13 SINGAPORE —SWEEP— 1 ST PRIZE $2 SUPER SWEEP SNOWBALLED TO ,200,000 $500,000 $250,000 $1,050,000 2 nd PRIZE 3 rd PRIZE 1st prize S2.2 Million 2nd Prize 3rd Prize $250,000 r C.-1P0B men "SI VEEPW H n No I SINGAPORE 0 5/20 11 ■-SWEEP' I Draw No. n 05/2011 off S3
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  • FROM THE DESK OF
    • 831 15  -  Investment companies are focusing more attention on their IT infrastructures to mitigate operational risk, identify long-term cost savings and position themselves for sustainable future growth from the desk of Nick Quin Regional sales director SimCorp Asia AS WE progress past the first quarter of the
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  • SINGAPORE
    • 369 16  -  They are jointly deemed Outstanding Employers in this year’s Best Employers in Singapore awards By Maxie Aw Yeong maxieay@sph.com.sg RITZ Carlton, Millenia Singapore and McDonald’s Restaurant have emerged as Outstanding Employers in Singapore, in the Best Employers in Singapore 2011 awards. They emerged tops
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    • 396 16  -  By Nisha Ramchandani nishar@sph.com.sg JAPAN-based fashion retailer UNIQLO is accelerating its expansion plans in Singapore after its first three stores outperformed expectations. “The Singapore business has been well received, better than expected. We outperformed our targets,” Satoshi Onoguchi, managing director for UNIQLO Singapore,
      FILE PHOTO  -  396 words
    • Briefing
      • 66 16 THE Minister for Finance has appointed two new board members to the Singapore Totalisator Board (Tote Board). These appointments take effect from May 1. The new board members are Chan Heng Kee, the Permanent Secretary at the Ministry of Community Development, Youth and
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      • 135 16 ON April 28, the annual World Gourmet Summit Charity Dinner took place at the St Regis Singa- pore. Now into its 11th year, this special “giving back” dinner is held yearly as part of the World Gourmet Summit, a gourmet extravaganza which showcases
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    • 609 17  -  They help cater to emergency power needs and enable sharing of reserves: Tenaga chief By Ronnie Lim ronnie@sph.com.sg CROSS-BORDER electricity sales can help cater to the emergency power needs of neighbouring countries and also enable them to share “spinning reserves”, or standby power-on-tap, which they
      BLOOMBERG FILE PHOTO  -  609 words
    • 226 17  -  By Rebecca Liu rebeccal@sph.com.sg BUDDING scientists and engineers will now be able to further develop their interests through a newly launched national academy designed to further science education and engagement among youths. A brainchild of the Science Centre Singapore and the Agency for Science, Technology
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    • 347 17  -  By Kelly Tay kellytay@sph.com.sg IN spite of inflation jitters, Asian economies have surged in recent months. But in its Q2 2011 Asian economies report, the Hong Kong and Shanghai Banking Corporation (HSBC) warned that Asia’s ascent may temporarily slow as the region faces some
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  • Page 16 Advertisements
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      100 words


  • WORLD
    • 589 18 Insurer may now take on BOA, Goldman Sachs and others after it sues two money managers Reuters Wilmington, Delaware AMERICAN International Group Inc (AIG) launched a fight to recoup billions of dollars the bailed-out insurer said it lost due to fraud,
      Reuters  -  589 words
    • 296 18 Bloomberg New York THE Standard Poor’s 500 Index may begin a 10 per cent slump in June after the Federal Reserve ends its bond-buying programme, Credit Suisse Group AG’s Douglas Cliggott said. “It’s probably going to get bumpy in the equity
      Bloomberg  -  296 words
    • 177 18 Bloomberg Beijing CHINA’S manufacturing sustained its expansion this month even as the government raised interest rates and let the yuan strengthen at a faster pace, a purchasing managers’ index showed. The index was 51.8 in April, unchanged from March, HSBC Holdings Plc and Markit Economics
      Bloomberg; AFP  -  177 words
    • 472 19 Bid has been sweetened with a dividend payment Bloomberg Kuala Lumpur EON Capital has accepted Hong Leong Bank’sRM5.06billion(S$2.09billion)takeover offer after the bid was sweetened with a dividend payment to existing EON shareholders. EON accepted the bid on condition that Hong Leong had no objections to
      Bloomberg; BLOOMBERG  -  472 words
    • 474 19 Bloomberg Seattle MICROSOFT Corp’s Windows sales slumped last quarter as the iPad crimped demand for consumer laptops, marking the first time in 20 years that the software maker reported a smaller quarterly profit than Apple Inc. Revenue in Microsoft’s Windows division fell 4.4 per cent
      Bloomberg  -  474 words
    • 429 19 Reuters Seoul SAMSUNG Electronics faces a challenging outlook after reporting its third consecutive fall in quarterly profit as it struggles to make ground on Apple Inc and faces a tepid recovery in its TV and flat screens business. The world’s
      Reuters  -  429 words
    • 489 20 March spending, adjusted for inflation, up 0.2% after rising 0.5% in February LATEST US DATA Reuters Washington US consumer spending rose as households stretched to cover the higher cost for food and petrol as inflation posted its biggest year-on-year rise in 10 months. The
      Reuters; AFP  -  489 words
    • 645 20  -  By Shu-Ching Jean Chen btworld@sph.com.sg Hong Kong THE lukewarm response to the first initial public offering (IPO) in yuandenominated shares outside mainland China contrasts starkly with the strong showing of the yuan, providing a curious footnote to the history oftheChinesecurrency’sinternationalisation. Hui Xian
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  • Page 18 Advertisements






  • SGX
    • 10139 24 Transaction date: Apr 29 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 14.5 8Telecom 17cd 16.5 17.5 7.8 3.6 3.6 81.4 12 4.5 A-Sonic 7.5cd unch 50 7.5 7.5 7 7.5 1.7
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    • 186 24 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 2 7 5 0 0 0 2 7 5 Manufacturing 28 66 68 2 13 11 30 79 79 Commerce 18 20 19 2 5 6 20 25 25 Tpt/Stor/Comms 6 17 19
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    • 821 24 For week beginning Apr 25 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Time Watch Invest 28-Apr-11 Tung Koon Ming *Buy 4310 na *****6 90.02 *****6 91.17 Time Watch Invest
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    • 121 24 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 47,402 47,402 110,960 110,960 Manufacturing 202,184 12,098 214,282 213,652 1,632 215,284 Commerce 99,202 6,345 105,547 119,924 1,194 121,119 Tpt/Stor/Comms 157,200 3,112 160,312 266,447 461 266,907 Finance 28,745 28,745 301,361 301,361 Construction 18,405 399 18,804 7,206
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  • MARKETS
    • 118 25 Apr 29 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.386 1.308 Can dollar 1.315 1.265 Euro 1.855 1.784 Sterling pound 2.082 2.002 NZ dollar 1.014 0.966 US dollar 1.244 1.197 Local dollars to 100 units of foreign currency: Currencies Sell
      118 words
    • Article, Illustration
      95 25 YTD change: -0.32% 52-week high: 3,313.61 on Nov 9,2010 52-week low: 2,648.15 on May 25,2010 Source: Bloomberg YTD change: +2.98% 52-week high: 24,988.50 on Nov 8,2010 52-week low: 18,971.50 on May 27,2010 Source: Bloomberg YTD change:+10.24% 52-week high: 12,776.10 on April 28,2011 52-week low: 9,614.32 on July 2,2010
      Source: Bloomberg  -  95 words
    • 374 25 In local curr In S$ In US$ dy yr dy yr dy yr Apr 28 Index Change Change Change Change Change Change World Index Preliminary 941.7 0.3 4.9 0.4 3.6 0.9 8.1 ‡EAFE Preliminary 815.3 0.6 1.8 1.3 3.6 1.7 8.1 Europe Preliminary 1218.0 0.5
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    • 154 25 Apr 29 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3386 1.3406 1.0920 1.0928 Canadian dollar 1.2875 1.2887 1.0503 1.0504 Euro 1.8187 1.8206 1.4837 1.4840 NZ dollar 0.9851 0.9861 0.8036 0.8038 Sterling pound 2.0427 2.0447 1.6664 1.6667
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    • 82 25 Apr 28 COCOA (£/tonne) Close Prev High/Low May 11 1975 1916 1975/1903 Jul 11 1981 1927 1992/1917 Sep 11 1993 1944 2007/1933 Dec 11 2015 1965 2028/1957 COFFEE (US$/tonne) Close Pev High/Low May 11 2531 2510 2543/2515 Jul 11 2555 2536 2572/2541 Sep 11 2575 2555 2589/2565 Nov 11
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    • 67 25 Apr 29 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 11 3363 3365 3363 3335 166 5777 Jun 11 3271 3300 3300 3264 2693 ***** Jul 11 3243 3270 3275 3237 ***** ***** Aug 11 3233 3256
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    • 94 25 Apr 28 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low May 11 1350.*****8.*****3.*****4.25 Jul 11 1353.*****4.*****0.*****8.25 Aug 11 1351.*****3.*****8.*****6.75 Sep 11 1344.*****5.*****4.*****0.75 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low May 11 56.43 57.86 58.48 56.06 Jul 11 56.93 58.41 59.02 56.55 Aug 11 57.19 58.65 59.25
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    • 75 25 Apr 28 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 126.30 1.73 WTI (Near Mth) 112.85 0.01 Dubai (1-Mth F) 119.56 1.59 Tapis blend 132.81 1.09 Minas 129.21 1.09 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 120.72 2.00 Jet Kerosene 140.90 1.90 US$/barrel Opec Oil Basket Price
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    • 72 25 Apr 28 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2758.75 2736.00 3 months 2767.00 2744.00 Copper, Grade A (US$/tonne) Cash 9296.00 9297.00 3 months 9320.00 9321.00 Lead (US$/tonne) Cash 2506.25 2519.50 3 months 2491.00 2498.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • 67 25 Apr 29 GOLD (US$/oz) Apr 28 Apr 29 Hong Kong 1533.*****3.60 Apr 27 Apr 28 London 1506.*****5.40 1507.*****6.20 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 59.55 59.25 Source: UOB PLATINUM Lon (US$/oz) Apr 28 Close Previous PM Fix 1835.*****2.00 AM Fix 1820.*****7.00 Source: Thomson Reuters PLATINUM NYMEX
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  • PERSPECTIVE
    • 1171 26 / 27  -  SDP’s Tan See Jay advocates a Singapore economy that is service-oriented. But this view calls for a closer look by economists to balance out his arguments. By Vikram Khanna By Vikram Khanna SHOULDSingaporephase out manufacturing and concentrate on services? This old debate has been revived by
      BLOOMBERG  -  1,171 words
    • 882 26 / 27  -  With political will and cooperation, it would cost just 1.5% of annual global GDP to satisfy every person on this planet Peter Rogers University of Harvard ~The writer is the Gordon McKay Professor of Environmental Engineering and Professor of City and Regional Planning at Harvard
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  • Wealth
    • WEALTH INVESTING
      • 900 28 / 29 Global demand for goods and services has been strong, but a new fear has arisen AP EARNINGSseasongot underway last week, and at first glance it seemed as if nothing had changed. As was the case throughout 2010, a vast majority of companies
        AP; STOCK.XCHNG  -  900 words
      • BROKERS' TAKE
        • 237 28 / 29 Outperform CIMB April 29 Close: $2.08 BROADLY in line; reiterate Outperform: Q1 FY11 core net profit (excluding forex gains) accounts for 26 per cent of our FY11 forecast and 25 per cent of consensus. We consider the results to be in line as we expect crude palm
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        • 264 28 / 29 Buy OCBC Investment Research April 29 Close: $1.81 Yangzijiang Shipbuilding (YZJ) reported a 14 per cent y-o-y rise in revenue to 3.05 billion yuan (S$574.7 million) and a 63 per cent increase in net profit to 954.9 million yuan in Q1 FY11, accounting for 20 per cent and
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        • 278 28 / 29  -  Buy DMG Partners Securities April 29 Close: $0.50 Compiled by Lynette Khoo Cambridge Industrial Trust (CIT) reported a lower DPU of one cent in Q1 FY11 (-21.4 per cent y-o-y; -16.1 per cent q-o-q), representing 19.9 per cent of our FY11 DPU estimate. The sharp drop in
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    • SMART MONEY
      • 1907 30 / 31  -  Key differences relate to ownership, management and governance. By Genevieve Cua gen@sph.com.sg WITH interest rates still scraping rock bottom, you are likely to be on the lookout for investments that offer yield. Within this segment, real estate investment trusts (Reits) and business trusts are promising investment
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      • 618 30 / 31  -  By Genevieve Cua REITS (real estate investment trusts) and business trusts may seem to be attractive options, particularly as upwardly trending inflation puts savers in an awkward and worrisome quandary of negative real interest rates. The attractiveness of such trusts lie
        618 words
    • 1136 32  -  A pair of investors were recently awarded US$54.1 m in a securities arbitration case against the Smith Barney unit of Citigroup. By Gretchen Morgenson By Gretchen Morgenson AP TWO individual investors just scored a remarkable win against Citigroup. A few weeks ago, the pair was awarded
      AP  -  1,136 words
    • 1103 33  -  Depending on results, this general election could have more pronounced impact on stock market: Nomura show me the money| Teh Hooi Ling hooiling@sph.com.sg Senior correspondent ~the writer is a CFA charterholder UNLIKE in Malaysia where certain stocks typically make big gains in
      Source: Singapore Election department, Nomura Singapore; AP  -  1,103 words
    • WEALTH REAL ESTATE






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    • 69 1 LivingTHEBUSINESSTIMESWEEKEND|APRIL30-MAY*****BTTHE BUSINESS TIMES WEEKEND APRIL 30 MAY 1 2011 DINING Up close with Joel Robuchon L6 THE FOOD HUNTERS Gastronomes who take food-worshipping to a whole new level STYLE In the pink of business L20-21 CHILLIES FROM SPAIN PHOTO BY JOHN HENG PERSONAL SPACE The balcony scene L8-9 HEALTH Heart
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  • BT Living
    • DINING
      • 44 2 / 3 If you think that queueing up at your favourite hawker stall is devotion, think again. These gastronomes take food-worshipping to another level some travel long distances on a regular basis to stock up on special groceries; others painstakingly make their own.
        44 words
      • Article, Illustration
        933 2 / 3  -  By Audrey Phoon, Geoffrey Eu WHAT do you call a person who brews his own vinegar in mini casks, cooks seafood perfectly and produces an excellent hot sauce, even bottling it in chic decanters stamped with wax seals that bear his initials? If you’re the sort of cook
        PHOTOS BY JOHN HENG  -  933 words
      • Article, Illustration
        770 2 / 3 THERE are many things that can constitute commitment. For devoted husbands and wives, it’s wearing a wedding ring; for workaholics, it’s turning up in the office at the break of dawn. For Abbie Melchior, however, commitment is more along the lines of taking herself and her two young
        PHOTOS BY JOHN HENG  -  770 words
      • 708 4 / 5  -  By Audrey Phoon aphoon@sph.com.sg THEY say the world is your oyster, but for Lynn Yeow-de Vito, it’s more like her larder. After all, the director at integrated communications agency Ate Consulting has oft enough rifled through southern Italy for wild berries and reached into Kyoto for bottles
        PHOTOS BY YEN MENG JIIN  -  708 words
      • Article, Illustration
        575 4 / 5  -  By Geoffrey Eu btnews@sph.com.sg IT WAS a dark and stormy night in the Tuscanhills. Leonora Tan and herhusband Ju Seng were driving towards Florence, in search of somewhere to eat. They chanced upon a nondescript family restaurant in a small town and it was there that she had
        PHOTOS BY YEN MENG JIIN  -  575 words
      • 1176 6  -  World-renowned chef Joel Robuchon opens two new restaurants at Resorts World Sentosa. By Jaime Ee jaime@sph.com.sg IT SEEMS kind of weird. You can expect first time restaurateurs, or even veterans opening a high-risk venture to be a bundle of nerves on opening day, but an icon
        1,176 words
      • 424 7  -  Brent Savage has earned a reputation for offering a progressive cuisine and fine wine experience that excites the senses. By Geoffrey Eu By Geoffrey Eu btnews@sph.com.sg WORKING with great produce and fine-tun-ing flavours and textures to create a well-balanced whole is perhaps the best way to describe chef
        424 words
      • Article, Illustration
        497 7  -  Despite a lack of top quality ingredients, chef Shinichiro Takagi still manages to cook up a storm. By Jaime Ee jaime@sph.com.sg IT MAY not have been the best decision, but it was certainly a brave move for Japanese chef Shinichiro Takagi to go ahead with a planned World
        497 words
    • HOME & GARDEN
      • 1098 8/9  -  It’s got the location and the looks, but this Marina Bay Residences apartment’s greatest attraction is its balcony view. By Audrey Phoon personal space| view.By Audrey Phoon aphoon@sph.com.sg WHEN you buy a home before it has been built, it can be tough to reconcile the completed property
        PHOTOS BY YEN MENG JIIN  -  1,098 words
    • Luxe Life
      • LUXURY LIVING
        • Article, Illustration
          798 12/13 Your sense of sight, touch and smell come into play when selecting furniture for your home. Corinne Kerk reports So, you want luxe furniture and bedding at home. Should you run after designer names,stickwithsomeoneelse’s recommendation or go with your instincts? Well, the answer has a lot to do
          798 words
        • Article, Illustration
          433 14  -  Misura’s showflats illustrate how the essence of good design stems from effective use of spaces, reports Corinne Kerk reports Corinne Kerk Keen competition and more demanding homebuyers have meant that showflats these days are impeccably decked out. And many of these gorgeous show suites have been the
          433 words
        • 634 16  -  A wooden sailing boat with super-luxurious fittings is yours to charter at a price. Geoffrey Eu checks it out Geoffrey Eu After 13 years of being a fund manager in Moscow, Eric Kraus decided on a change of pace during the frigid Russian winters, so
          PHOTOS: ARTHUR LEE  -  634 words
        • Article, Illustration
          720 18 / 19  -  Flower arrangements are no longer simply stalks of flowers sitting in vases. Felda Chay elaborates Felda Chay They appeal to women, are soft, sweet-smelling and delicate, and are often part of the war chest of men seeking to leave a lasting impression on the opposite sex. And now,
          720 words
    • STYLE
      • Article, Illustration
        1624 20 / 21  -  The adage ‘Health is wealth’ seems to ring true for three outlets which bank on a fitness-related business model embracing sport, retail and food. By Melissa Lwee By Melissa Lwee mellwee@sph.com.sg The wheel deal LifeCycle 18 Gemmill Lane THREE years ago, a life-threatening heart condition meant that
        PHOTOS: LIFECYCLE; PHOTOS: YEN MENG JIIN  -  1,624 words
    • GADGETS
      • Article, Illustration
        642 22  -  Toggle seamlessly between your playlist and incoming calls with the new headphones designed with built-in microphones and remote music controls. By Christopher Lim By Christopher Lim Jays a-JAYS Four, $118 Apple’s iPhone is so popular that some headphones are made specifically to be used with it. The a-JAYS
        642 words
    • HEALTH
      • 1132 23  -  The use of medical imaging involving radiation is an integral part of medicine. But how safe are the effective radiation doses used in heart tests? By Michael Lim By Michael Lim ~Dr Lim is the medical director at Singapore Medical Specialists Centre. He is also editor-in-chief, Heart Asia,
        STOCK.XCHNG  -  1,132 words
    • SPORT
      • 675 24  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor IT WAS not too long ago that this Sunday’s battle between arch-rivals Arsenal and Manchester United was being touted as a potential championship-decider. Not any more. The high-profile game in North London has taken
        REUTERS  -  675 words
      • 586 24 AFP Washington SERENA and Venus Williams have shaken off injuries that have sidelined them from competitive tennis, but whether or not they will be ready for next month’s French Open remains uncertain. “The French Open is a great tournament. It’s a fun event.
        AFP  -  586 words
    • GOLF
      • Article, Illustration
        1113 25  -  World number one Lee Westwood may not have won a Major yet, but he remains a prolific golfer and is one of a select few to have won tournaments on every major continent. By Justine Moss By Justine Moss btnews@sph.com.sg WHENBritonLeeWest-wood regained his world number one
        AFP  -  1,113 words
    • MOTORING
      • Article, Illustration
        692 26  -  The use of forced induction has allowed the Germans to offer entertaining yet efficient engines. Samuel Ee drives two such 1.4-litre units that have come on the market Samuel Ee samuelee@sph.com.sg VOLKSWAGEN already has a mindboggling 10 car models and 29 derivatives on its price list here but
        692 words
      • 511 27  -  The new Opel Astra promises something totally different with its new turbocharged engines. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THE Opel Astra may once have been the phlegmatic alternative when it came to performance but a couple of new turbocharged engines promise something
        511 words
      • 202 27  -  By Samuel Ee THERE is another Astra variant with a bigger and more powerful engine the Opel Astra 1.6 Turbo. For $10,000 more than the 1.4 Turbo, the 1.6 Turbo comes with HID high-intensity discharge headlamps and bigger, 18-inch alloy wheels (the 1.4 T wears
        202 words
      • Article, Illustration
        648 28  -  Performance Motors Track Day offers BMW owners a chance to tackle the Sepang Circuit. By YK Lai btnews@sph.com.sg THE screams of F1 machines had barely subsided at the Sepang International Circuit when it again reverberated to the roar of engines from a band of drivers trying their hand at
        648 words

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    • 26 10 Luxe Life BT's LUXURY LIVING GUIDE A SUPPLEMENT WITH THE BUSINESS TIMES APRIL 30, 2011 Rest and relax at home amid stylish furniture and elegant Traumreiter-PaderbornGermany
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    • 402 18 / 19 Advertising Feature Innovation made to last with the Norwegian made recliner. Since 1971, Ekornes, the largest manufacturer of furniture in Norway, has given a whole new perspective to what it means to be completely at ease. Realising the need for a chair that gives you the ultimate personal comfort, Ekornes
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