The Business Times, 4 June 2011
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2011-06-04
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The Business Times
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Title Section17 2011-06-04 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg JUNE 4-5, 2011 S$1.00 MICA(P) 139/08/2010 S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION17 words
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Article35 2011-06-04 1 greek woes GREECE yesterday said it had concluded a tough audit by the EU and the IMF for continued loan aid, pledging further reforms and a privatisation drive. 335 words
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Article28 2011-06-04 1 regional security ASIAN nations should work with both the US and China to tackle regional problems, Malaysian leader Najib Tun Razak said. 428 words
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Article43 2011-06-04 1 super car FORTY people have placed a deposit for the new McLaren super sports car even before its price has been fixed. And there are 60 more who say they intend to do so once that is confirmed. 543 words
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534 2011-06-04 1 latest us data| AP Washington AMERICAN employers hired only 54,000 new workers in May, the fewest in eight months, and the unemployment rate rose to 9.1 per cent. The Labor Department report offered startling evidence that the US economy isAP - 534 words
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Article, Illustration1029 2011-06-04 1 Michelle Quah - Swanky new clubhouse in town provides multi-tasking generation a place to put its feet up and relax By Michelle Quah michquah@sph.com.sg Singapore DURING the recent Cricket World Cup, some construction workers from a nearby worksite would gather in front of KPMG’s swanky new1,029 words
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Page 1 Advertisements
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Advertisement18 2011-06-04 1 the business www.businesstimes.com.sg the raffles conversation KAUSHIK BASU, INDIA’S CHIEF ECONOMIC ADVISER 8-9 LIVING Island in the sun18 words
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Advertisement9 2011-06-04 1 WEALTH The real return of property in S’pore 339 words
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TOP STORIES
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888 2011-06-04 2 Grace Leong - Judge says the landbanking product sales company has failed to prove its case against the three top executives By Grace Leong gleong@sph.com.sg Singapore AFTER 13 weeks in court producing 9,772 pages of court documents and depositions from 55 witnesses, Walton International Group’s lawsuit against888 words
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Article140 2011-06-04 2 H STI 3,145.67 (-14.93) H STI FUTURES 3,146 (-15) H SIMSCI 366.20 (-0.91) H SIMSCI FUTURES 366.50 (-0.40) STOCKS Friday Change KL COMP 1,559.85 +1.81 NIKKEI 225 9,492.21 -62.83 HANG SENG 22,949.56 -304.28 SET 1,057.86 -1.95 JAKARTA 3,844.02 +6.26 MANILA 4,297.62 -27.36 KOSPI 2,113.47 -0.73 SHENZHEN B 747.65 +9.17140 words
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Article, Illustration511 2011-06-04 3 Athens agrees to debt reduction and privatisation but unions go on warpath AFP Athens GREECE said yesterday it had concluded a tough audit by the EU and the IMF for continued loan aid, pledging further reforms and a privatisation drive that hasAFP - 511 words
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408 2011-06-04 4 Chuang Peck Ming - Malaysian PM calls for Cold War bilateralism to be substituted with ‘a multilateralism that can rise to the task ahead’ By Chuang Peck Ming peckming@sph.com.sg Singapore INSTEAD of picking which of the two camps the United States or China to side with,408 words
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Article, Illustration461 2011-06-04 5 Samuel Ee - $50K non-refundable deposit placed by 40 people without price known; 60 more wait for price, to order By Samuel Ee samuelee@sph.com.sg Singapore FORTY people have placed a deposit for the new McLaren super sports car even before its price has been fixed. And461 words
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541 2011-06-04 6 Warning amounts to a stern reminder to Washington that global financial markets are watching the budget battle closely NYT Washington MOODY’s Investors Service warned on Thursday that it might downgrade the US government’s sterling credit rating if Congress did notNYT - 541 words
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Article, Illustration636 2011-06-04 6 Reuters Berlin RACING to curb the spread of a killer food bug, Germany set up a national task force yesterday to hunt down the source of a highly toxic strain of E.coli that has killed 17 people and sounded alarmsReuters; AFP - 636 words
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Article, Illustration627 2011-06-04 7 Pauline Ng - A positive move, say analysts, as it would atrract more local funds By Pauline Ng btworld@sph.com.sg Kuala Lumpur ALREADY a hit with foreign investors, AirAsia could be making gains with local institutional funds going by a recent disposal of 55.5 million shares byAFP - 627 words
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Article, Illustration864 2011-06-04 7 Joyce Hooi - saturday soapbox| Joyce Hooi Reporter ~joyceh@sph.com.sg THIS weekend, when men in bars all over Singapore size up the pickings available, they will use a new lexicon for attractiveness: a woman willbeeither“lumpsum”or“monthly”instead of “hot” or “have a few more drinks before you look again”. Women will864 words
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Page 2 Advertisements
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Advertisement59 2011-06-04 2 CONTENTS NEWS Top Stories 2-7 Raffles Conversation 8-9 Week in Review 10 Companies 11-14 From The Desk Of 15 Singapore 16-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-35 Show me The Money 33 Househunt 34 Real Estate 35 LIVING Travel L2-5 Dining L6Weekend With L9 Beauty L10-11 Design59 words
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Page 3 Advertisements
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Advertisement274 2011-06-04 3 Singapore Medical Specialists Centre One Day One Stop One Centre Prevent Heart Attacks, Stroke and Cancers Do you have chest pain or breathlessness? Do you have loss of appetite or decrease in weight? Do you have headaches, weakness or dizziness? Do any of your family members have heart disease, stroke274 words
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Page 5 Advertisements
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Advertisement17 2011-06-04 5 Pacify the Raging Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Apology Notices NOTICES17 words
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Advertisement51 2011-06-04 5 mu dan lifestyle furniture artefacts SPECIAL PROMOTION $5900 only $3980 St.Lucia Chesterfield Settee in ORO Premium Leather .> •> Vv I > I I ■'A i t i < i 1 l f m 501 Bukit Timah Rd #01-03 <& #02-02 Cluny Court (Near Serene Centre/Farrer Rd) Tel: 6467 922751 words
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THE RAFFLES CONVERSATION
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Article, Illustration2257 2011-06-04 8/9 Vikram Khanna - adviserKaushik Basu is not just an economist, he is also an academic with a reputation for irreverent humour and a policymaker who considers helping the country’s poor his main mandate. By Vikram Khanna vikram@sph.com.sg KAUSHIK Basu is the inventor of the game Dui-doku, or Sudoku for twoARTHUR LEE - 2,257 words
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WEEK IN REVIEW/WEEK AHEAD
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THIS WEEK May 30-June 3, 2011
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46 2011-06-04 10 ALMOST a year after the foreign worker levy hikes kicked in last July, construction firms now face a bloated capital expenditure from a bigger labour bill and more machinery. Despite this, they appear to have found ways to squeeze out savings.46 words
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58 2011-06-04 10 MASS market condo prices have been racing ahead, but a moderation may be around the corner. The NUS Singapore Residential Price Index increased 14.1 per cent in April y-o-y for the Non-Central Region, while the index for the Central Region rose at a58 words
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40 2011-06-04 10 MALAYSIA on Monday raised electricity rates by an average 2.23 sen or about 7 per cent to put a lid on the rising subsidy costs, though it refrained from capping petrol subsidies.40 words
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43 2011-06-04 10 THE Singapore Exchange will shave its minimum bid size for securities from July 4 a move that has drawn mixed reactions on whether it would boost liquidity, even with the cut in trading costs.43 words
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56 2011-06-04 10 INTERNATIONAL Container Terminal Services, Philippine Stock Ex-change-listed port operator, has bid with an outsized premium for Portek International. At $1.20 a share, the cash offer for the local port operator is at a 69 per cent premium against the stock’s56 words
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66 2011-06-04 10 TIGER Airways’ shares fell following the sale of stock by its CEO and a move by Thai Airways to start up its own budget carrier. Several analysts noted that Tiger Airways CEO Tony Davis had sold one million shares or66 words
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65 2011-06-04 10 FORMER foreign affairs minister may reconsider his earlier decision that had appeared to rule out running for the elected president’s post. In a Facebook posting on Wednesday, George Yeo wrote: “Many Singaporeans from different walks of life, young and old, have asked me to reconsider65 words
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70 2011-06-04 10 SEPP Blatter was re-elected as the president of world football governing body Fifa at its 61st congress in Zurich on Wednesday as he promised key changes to the selection process for World Cup hosts. He said in future World Cups would be70 words
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Article, Illustration24 2011-06-04 10 ‘Many Singaporeans from different walks of life, young and old, have asked me to reconsider my decision on the presidency.’ FILE PHOTOFILE PHOTO - 24 words
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29 2011-06-04 10 JAPAN’s Prime Minister Naoto Kan comfortably survived a no-confi-dence vote after promising to step down once bills to help finance Japan's reconstruction are passed.29 words
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35 2011-06-04 10 THE International Air Transport Association is expected to further downgrade the outlook for global aviation. Iata director-general Giovanni Bisignani said that despite a recoveryfrom2009’s slump,the industry remained fragile.35 words
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44 2011-06-04 10 VOTING at shareholder meetings through a show of hands could soon become a thing of the past. The Singapore Exchange on Thursday proposed new rules that would force all listed companies to conduct their voting by polling.44 words
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43 2011-06-04 10 THE euro shrugged off a Moody’s downgrade of Greece’s credit rating which suggests that it is not 50 per cent likely to default on its debt and rallied against the US dollar and Asian currencies.43 words
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40 2011-06-04 10 HAVING taken the decision to close down Germany’s atomic plants by 2022, Chancellor Angela Merkel had a piece of advice for Asian countries exploring the nuclear option: ensure the highest standards of safety.40 words
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Article89 2011-06-04 10 US DATA June 8 Beige Book, a summary of economic conditions in the 12 Federal Reserve districts June 9 April trade balance April Wholesale inventories June 10 May Federal budget SINGAPORE DATA June 7 May international reserves EVENTS June 7 G-20 meeting on nuclear safety89 words
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Page 10 Miscellaneous
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Miscellaneous339 2011-06-04 10 CRYPTIC CROSSWORD Across 1 Uncomfortable proximity in stifling billets (5,8) 10 A pound fixed rate in Canadian place (7) 11 Painter out in sea-mist (7) 12 I left to start work (4) 13 Furnaces where links can be forged (5) 14 Live ammunition? (4) 17 Blissful state of cats? Yes,339 words
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Miscellaneous14 2011-06-04 10 SATURDAY with Ludwig ‘She’s calm no matter how sharp the drop in the stockmarket14 words
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COMPANIES
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Article, Illustration376 2011-06-04 11 Mindy Tan - Commodities group says it’s in talks on fund-raising initiatives By Mindy Tan tanmindy@sph.com.sg OLAM International shares were among the biggest losers yesterday, falling as much as 3 per cent in heavy trading on news that the commodities group is exploring fund-raising initiatives.Source: Bloomberg - 376 words
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344 2011-06-04 11 Felda Chay - A$115m deal for Proserpine to lift output by 10% By Felda Chay feldac@sph.com.sg WILMAR International’s Australian-based sugar subsidiary Sucrogen is purchasing the business assets of Proserpine Co-operative Sugar Milling Association for A$115 million (S$151.2 million) on a debt-free and cash-free basis. Sucrogen’s acquisition of344 words
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232 2011-06-04 11 Joyce Hooi - By Joyce Hooi j oyce h @s p h .co m .sg INTERNATIONAL Container Terminal Services Inc (ICTSI), which has launched an offer to take over Portek International, has raised its stake to 16.93 per cent through open-market purchases. ICTSI bought 18.195 million232 words
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Article116 2011-06-04 11 THE Housing and Development Board (HDB) yesterday launched a new issuance of $350 million fixed rate notes under its $7 billion medium term note (MTN) programme. The five-year fixed rate note issue comes with a coupon of 1.685 per cent per annum payable semi-annually in arrear.116 words
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Article, Illustration756 2011-06-04 12 Lynette Khoo - Their operations are not centred on the affected provinces of Hubei and Hunan corporate focus| By Lynette Khoo lynkhoo@sph.com.sg CHINA’S worst drought in 60 years is expected to cut crop yields and lift prices further, but most S-chips or Singapore-listed Chinese firms inREUTERS - 756 words
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386 2011-06-04 12 Lynette Khoo - TDRs fall below issue price for eight of nine S’pore companies By Lynette Khoo lynkhoo@sph.com.sg AMID weak market conditions and dismal share price performance of companies that have undertaken secondary listing in Taiwan, Ziwo Holdings is scrapping its proposed listing of Taiwan386 words
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Article, Illustration522 2011-06-04 13 R Sivanithy - stocks| R Sivanithy sivan@sph.com.sg Senior correspondent SUCH has been the near-total absence of interest in local stocks that not a lot happened this week that was much different from last week or the week before for that matter. The Singapore Exchange (SGX) announced a522 words
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Article110 2011-06-04 13 VOL CLOSE Artivision 228,612 22 9.0 69.2 GentingSP 95,089 199 -2.0 -1.0 GoldenAgri 52,742 69 0.0 0.0 Armarda 22,489 5.5 0.5 10.0 Dyna-Mac 21,902 55.5 0.5 0.9 RenewableEne 21,258 11 1.0 10.0 NamCheong 18,155 23.5 0.5 2.2 GemsTV 16,597 2 -1.0 -33.3 Yangzijiang 15,590 157 -1.0 -0.6110 words
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Article58 2011-06-04 13 BY CENTS CLOSE UP Daiwa FT Shariah Jap 829 18.5 1.8 DBXT E50 10US$ 4502 16.0 0.3 GuocoLand Ltd 230 16.0 7.5 DBXT MSINDO 10us$ 1534 14.8 0.8 UOB 5.05%NCPS 100 ***** 14.0 0.1 JSH 3040 12.3 0.3 IndoAgri.ES.1106 174 10.0 6.1 Keppel Corp 1148 10.0 0.9 STXPO58 words
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Article57 2011-06-04 13 BY CENTS CLOSEDOWN Jardine C&C 3950 -130.0 -3.2 GLD 10US$ ***** -75.2 -0.4 DBXT FTChina25 10US$ 3201 -44.4 -1.1 DBXT MSAsExJp 10US$ 3427 -41.9 -1.0 DBXT Nifty 10US$ ***** -29.6 -0.2 DBXT FTVietnam 10US$ 2985 -28.3 -0.8 DBXT MSTHAI 10US$ 1661 -13.6 -0.7 Lyxor Malaysia 10US$ 971 -13.657 words
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Article105 2011-06-04 13 Stock name Close Change CapMallsAsia 1.590 +0.010 CapitaLand 3.050 -0.020 CapitaMall 1.980 +0.010 CityDev 11.280 +0.040 ComfortDelGro 1.450 -0.010 DBS Grp 14.900 -0.040 F&N 6.030 +0.060 GLP 2.050 Genting SP 1.990 -0.020 Golden Agri 0.690 HK Land 7.420 +0.020 JMH 52.200 -2.100 JSH 30.400 +0.100 Jardine C&C 39.500105 words
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276 2011-06-04 13 Jasmine Ng - Building of eight residential blocks in Yishun By Jasmine Ng jasng@sph.com.sg WEE Hur Holdings’ wholly owned subsidiary, Wee Hur Construction Pte Ltd, has won a $109 million public housing building works project from the Housing Development Board. This HDB project followed another276 words
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315 2011-06-04 13 ONE of the top executives at NOL Group’s liner arm APL is bowing out of the company after 29 years. BobSappio–headofthe shippingline’sPanAmerican Trades– who is based out of Phoenix, Arizona, will step down on Aug 1 to move to the San Francisco315 words
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431 2011-06-04 14 Teo Si Jia - It revises target price from $1.83 to $3.38 citing its new Qingdao mall By Teo Si Jia teosj@sph.com.sg CIMB Research has upgraded Treasury China Trust (TCT), a Singapore-based business trust, to “buy” from “hold” on the strength of its mega Qingdao shopping431 words
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244 2011-06-04 14 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg HEALTHWAY Medical Corporation has opened its new Healthway Japanese Medical Centre (HJMC) at TripleOne Somerset, making it the first of its medical centres established to cater to Singapore’s Japanese community. Healthway operates private medical centres and clinics offering primary244 words
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Article, Illustration296 2011-06-04 14 Nisha Ramchandani - Moves stem from retirement of regional president By Nisha Ramchandani nishar@sph.com.sg AFTER six years as Heineken’s regional president for Asia Pacific, Siep Hiemstra has been appointed regional president (Africa and the Middle East) effective from Aug 1. Taking over will be Theo de Rond, currently the296 words
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Article162 2011-06-04 14 CAPITALAND has acquired Wuhan Kaihui Real Estate Co for 361 million yuan (S$68.8 million). The Singapore property group bought its full stake in Kaihui from a party unrelated to CapitaLand. The Chinese firm owns a 124,737 square metre plot of land in the Caidian district of162 words
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Page 11 Advertisements
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Advertisement398 2011-06-04 11 I, Jonathan David Ewington, bachelor, of 82 Grange Road #20-03 The Colonnade Singapore *****7, intend to marry Natalia Severine Florence Mesnager, single, of 82 Grange Road #20-03 The Colonnade Singapore *****7 at Mairie de Cabariot, Rue Gabares, ***** Cabariot, France on 10th September 2011. Any person knowing of any lawful398 words
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Page 13 Advertisements
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Advertisement11 2011-06-04 13 CATS Recruit The first door to your world of opportunities CLA/AUG06/g11 words
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Page 14 Advertisements
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Advertisement29 2011-06-04 14 Over 91,216* downloads! Slwc/Ttos... I■ nmll m.. Get your f l*GG iPhone/iPad app now! *as of 6th May 2011 91.3FMI TODAY'S BEST MUSIC Available on the J App Store29 words
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FROM THE DESK OF
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Article, Illustration972 2011-06-04 15 Sivadas Ramadas - Combining the usability of a laptop and the portability of a smartphone, they are slated to create the second wave in enterprise productivity from the desk of Sivadas Ramadas Managing Director Sybase South East Asia TABLETSwillbedif-ferent and even better than smartphones, and businesses would be ill-advised972 words
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SINGAPORE
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316 2011-06-04 16 Maxie Aw Yeong - It will open more filling stations to deliver industrial gases for electronics industry By Maxie Aw Yeong maxieay@sph.com.sg INDUSTRIAL gas company Singapore Oxygen Air Liquide (Soxal) plans to open more filling stations to deliver industrial gases to its clients. A project that316 words
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Article, Illustration477 2011-06-04 16 Rebecca Liu - By Rebecca Liu rebeccal@sph.com.sg NTUC FairPrice is bringing out the big guns in its drive to improve productivity and increase customer convenience. It yesterday launched two new systems at its Clementi Mall outlet that will make paying and stock-taking a breeze: the Self Checkout477 words
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347 2011-06-04 16 Grace Leong - By Grace Leong gleong@sph.com.sg THE Casino Regulatory Authority (CRA) has appointed Lau Peet Meng as its new chief executive, the Singapore regulator announced yesterday. His appointment takes effect on June 15. Mr Lau, 36, takes over from T Raja Kumar, who will return347 words
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Article, Illustration472 2011-06-04 17 Kelly Tay - Urban Land Institute partners Singapore’s Centre for Liveable Cities to share knowledge on responsible land use By Kelly Tay kellytay@sph.com.sg THE Urban Land Institute (ULI) yesterday signed its first memorandum of understanding (MOU) in Singapore, with the Centre for Liveable Cities (CLC). Formed in 1936,FILE PHOTOS - 472 words
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249 2011-06-04 17 THE Urban Redevelopment Authority (URA) has accepted an application from a developer to put up an industrial site between Pioneer Road North and Soon Lee Street for sale via public tender. The unnamed developer has committed to bid at a price of249 words
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194 2011-06-04 18 STARHUB announced yesterday that it will partner Cooliris to bring LiveShare, an innovative social communication experience, to Singapore consumers. LiveShare is a free application available for iPhone, Android and Windows Phone 7 users. Users of LiveShare will be able to communicate with friends through live group194 words
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Article, Illustration512 2011-06-04 18 Tam Yu Ling - With facilities including 4 Open Innovation Labs, it can house 65 start-ups By Tam Tam Yu Ling tamyl@sph.com.sg BUDDING entrepreneurs and innovators can now use the newly renovated Innovation Centre at Nanyang Technological University (NTU) to nurture their start-ups. The Innovation CentreFILE PHOTO - 512 words
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Singapore roundup
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77 2011-06-04 18 THE Singapore Business Federation (SBF) and the Singapore Indian Chamber of Commerce and Industry (SICCI) are leading a business mission to Mauritius from today until Wednesday. Delegates will participate in a business forum organised by the Board of Investment of Mauritius. The trip77 words
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50 2011-06-04 18 THE Singapore Chinese Chamber of Commerce Industry (SCCCI) is organising a business mission to Guangxi from tomorrow until June 10. The 44 delegates will visit fast-growing cities in the province, including Nanning and Guilin, and attend a forum on “Chi-na-Asean Free Trade Zone Guangxi”.50 words
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Page 16 Advertisements
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Advertisement74 2011-06-04 16 Choice of^®^r unity InSitvg a P ore tabid ,t ;S"'' HEAR1BEM jmorgcar OUAWSflA* «XT OCCAM 5S= :crc. (ggsE FEVER -lhave -r-rJSr.--rr?cS^ ad««P 1 tot I ."tL. CEOT I 1 Incisive features from India, news about the local Indian community, as well as business, education, entertainment, food and sports... with an74 words
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Page 18 Advertisements
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Advertisement68 2011-06-04 18 A HATS RECRUIT Check out these positions and seven hundred more in CATS Recruit Executive Appointments in The Straits Times now! Singapore Airlines is looking for an Accountant and Customer Affairs Manager Work at BNY Mellon as a Senior Training Consultant, Asset Servicing Novartis has a position open for an68 words
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Advertisement37 2011-06-04 18 o FIND THE ONES 1J L THAT FIT! Q j Recruit the right people I through CATS Recruit. i__ CJ) Call 1800 289 8822 or email 1 I recruit@sph.com.sg v to advertise. 1 s WATS RECRUT /*X37 words
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WORLD
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410 2011-06-04 19 Their strategies which bet on long-running market trends were hit hardest, says Credit Suisse analyst Reuters Hong Kong ASIAN hedge funds may have lost up to two-thirds of their year-to-date gains in May alone, with strategies such as macro andCTA–whichbetonlong-run-ning market trends hitReuters - 410 words
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Briefing
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106 2011-06-04 19 Reuters Hong Kong Assets managed by hedge funds betting on emerging markets rose to more than US$121 billion in the first quarter of 2011, toppling the previous record of US$117 billion set in 2007, according to data released by industry tracker HedgeReuters - 106 words
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101 2011-06-04 19 Reuters New York New York prosecutors have asked Goldman Sachs to explain its behaviour in the run-up to the financial crisis, the latest investigation that has cast a pall over the reputation of the largest US investment bank. Goldman Sachs Group Inc nowReuters - 101 words
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81 2011-06-04 19 Iran.AP Jerusalem An Israeli businessman at the centre of a recent scandal involving trade with Iran has died at age 89. Israeli media reported that billionaire Sammy Ofer died yesterday after a long illness. Mr Ofer’s name was recently in the news afterIran.AP - 81 words
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95 2011-06-04 19 Reuters Kuala Lumpur Malaysia’s Islamist party yesterday rejected a government offer for it to join the ruling coalition, dealing a blow to Prime Minister Najib Razak’s bid to weaken the opposition as he looks to consolidate power ahead of a possibleReuters - 95 words
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92 2011-06-04 19 by Reuters Sanaa Shells struck Yemeni President Ali Abdullah Saleh’s palace in Sanaa yesterday, wounding three senior officials, but a Yemeni official said Mr Saleh was “well”. Fierce fighting engulfed the Yemeni capital, where residents cowered in their homes as explosions rocked the city.by Reuters - 92 words
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Article, Illustration555 2011-06-04 19 Bloomberg Washington PRESIDENT Barack Obama’s administration is weighing whether to add provisions renewing aid for unemployed workers to legislation for free-trade agreements (FTAs) with South Korea, Colombia and Panama, according to people familiar with the matter. Republicans in Congress have objectedBloomberg; AFP - 555 words
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558 2011-06-04 20 Relentless push for economic growth comes at huge ecological price, with most cities hit by acid rain, many big rivers badly polluted Reuters Beijing MORE than half of China’s cities are affected by acid rain and one-sixth of major rivers are so polluted the waterReuters - 558 words
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721 2011-06-04 20 Daily deals site jumps on web companies’ IPO bandwagon Reuters Palos Verdes, California DAILY deals site Groupon Inc has filed for an initial public offering, hoping to capitalise on the biggest investor stampede into web startups since the dotcom bubbleReuters - 721 words
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Article, Illustration693 2011-06-04 21 At end May, HK had 21 IPOs raising US$8.8b while New York had 43 IPOs worth US$23.8b NYT Hong Kong IS Hong Kong, the global leader for initial public offerings in 2009 and 2010, in danger of losing its covetedNYT; BLOOMBERG - 693 words
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305 2011-06-04 21 PwC urges Western banks to heed shift in global economic power and tap E-7 markets Reuters London CHINA could leapfrog the United States to become the world’s largest banking economy by 2023, 20 years earlier than expected, raising pressure on WesternReuters - 305 words
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487 2011-06-04 22 White House believes official emails were unlikely to have been hacked in the attack which Google said originated in China Reuters Washington WASHINGTON scrambled on Thursday to assess whether security had been compromised after Google Inc revealed a major hacker attack targeting USReuters - 487 words
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218 2011-06-04 22 Reuters Kuala Lumpur MALAYSIA plans to sell more than US$1 billion in global Islamic bonds and will hold investor presentations at the end of June to market the offering, a source with direct knowledge of the matter said yesterday. Maybank CIMB Citi andReuters - 218 words
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514 2011-06-04 22 LulzSec says it broke into servers running Sony Pictures websites Reuters New York HACKERS again broke into Sony Corp’scomputernetworksonThursday and accessed information of more than one million customers to show the vulnerability of the electronic giant’s systems in the latest ofReuters - 514 words
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Page 20 Advertisements
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Advertisement15 2011-06-04 20 www.omy.sg v v mm lifestyle.omy.sg m J&U ESS "st 3 y z °ne.omy. S g15 words
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Page 22 Advertisements
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Advertisement20 2011-06-04 22 .!$02(,1 Chinese entrepreneur's passion for helping young people start their own business To subscribe, call 6388-3838 or go to sphsubscription.com.sg20 words
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SGX
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Article10025 2011-06-04 26 Transaction date: Jun 3 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 $mil 21 14.5 8Telecom 16 unch 200 16 16 15 16 7.8 3.8 3.4 76.6 12 4.5 A-Sonic 8.5 +1 806 8.510,025 words
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Article186 2011-06-04 26 MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 3 5 0 0 0 7 3 5 Manufacturing 60 43 58 5 3 9 65 46 67 Commerce 20 17 17 5 1 0 25 18 17 Tpt/Stor/Comms 11 19 12186 words
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Article835 2011-06-04 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning May 30 Compiled by BT Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Sun East Grp Ltd 2-Jun-11 Sam Kok Yin ST *****0 na *****05 40.14 *****5835 words
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Article121 2011-06-04 26 TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 26,655 26,655 43,943 43,943 Manufacturing 180,666 35,562 216,228 153,688 2,631 156,319 Commerce 59,224 2,721 61,945 89,649 1,150 90,799 Tpt/Stor/Comms 63,839 1,038 64,877 110,501 143 110,644 Finance 14,363 14,363 155,332 155,332 Construction 16,870 766 17,636 6,780121 words
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MARKETS
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Article116 2011-06-04 27 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.361 1.284 Can dollar 1.286 1.237 Euro 1.82 1.75 Sterling pound 2.054 1.975 NZ dollar 1.035 0.986 US dollar 1.249 1.201 Local dollars to 100 units of foreign currency: Currencies Sell Buy Chi116 words
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374 2011-06-04 27 In local curr In S$ In US$ dy yr dy yr dy yr Jun 2 Index Change Change Change Change Change Change World Index Preliminary 906.6 -0.9 1.0 -0.8 -0.4 -1.0 3.3 ‡EAFE Preliminary 782.9 -1.3 -2.2 -1.3 -1.1 -1.5 2.6 Europe Preliminary 1168.1 -1.1374 words
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Article152 2011-06-04 27 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3139 1.3151 1.0663 1.0664 Canadian dollar 1.2595 1.2608 1.0222 1.0224 Euro 1.7840 1.7856 1.4478 1.4479 NZ dollar 1.0019 1.0037 0.8131 0.8139 Sterling pound 2.0130 2.0150 1.6337 1.6340 US dollar152 words
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Article, Illustration92 2011-06-04 27 YTD change:-1.39% 52-week high: 3,313.61 on Nov 9,2010 52-week low: 2,726.80 on Jun 7,2010 Source: Bloomberg YTD change: -2.85% 52-week high: 3,186.72 onNov11,2010 52-week low: 2,319.74 on July 2,2010 Source: Bloomberg YTD change: -0.37% 52-week high: 24,988.50 on Nov 8,2010 52-week low: 19,211.60 on Jun 7,2010 Source: BloombergSource: Bloomberg - 92 words
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Article82 2011-06-04 27 Jun 2 COCOA (£/tonne) Close Prev High/Low Jul 11 1796 1814 1824/1795 Sep 11 1817 1837 1844/1815 Dec 11 1845 1865 1867/1843 Mar 12 1868 1888 1890/1865 COFFEE (US$/tonne) Close Pev High/Low Jul 11 2471 2562 2564/2435 Sep 11 2505 2595 2599/2472 Nov 11 2532 2619 2618/2503 Jan 1282 words
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Article93 2011-06-04 27 Jun 2 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jul 11 1407.*****6.*****1.*****3.75 Aug 11 1400.*****2.*****7.*****0.25 Sep 11 1396.*****7.*****0.*****7.50 Nov 11 1392.*****4.*****6.*****2.50 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Jul 11 58.91 58.43 59.32 58.21 Aug 11 59.19 58.71 59.57 58.48 Sep 11 59.49 59.01 59.8393 words
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Article65 2011-06-04 27 Jun 3 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 11 3500 3467 3500 3480 401 2076 Jul 11 3445 3444 3480 3438 3898 ***** Aug 11 3418 3421 3465 3418 ***** ***** Sep 11 3419 341265 words
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Article75 2011-06-04 27 Jun 2 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 114.05 -2.32 WTI (Near Mth) 100.49 0.22 Dubai (1-Mth F) 108.00 -1.86 Tapis blend 120.41 -1.71 Minas 117.81 -1.71 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 104.33 -2.73 Jet Kerosene 127.50 -2.12 US$/barrel Opec Oil Basket Price75 words
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Article66 2011-06-04 27 Jun 3 GOLD (US$/oz) Jun 02 Jun 03 Hong Kong 1543.*****5.00 Jun 01 Jun 02 London 1544.*****6.19 1545.*****7.01 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 44.98 44.57 Source: UOB PLATINUM Lon (US$/oz) Jun 02 Close Previous PM Fix 1823.*****8.00 AM Fix 1818.*****9.00 Source: Thomson Reuters PLATINUM NYMEX66 words
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Article71 2011-06-04 27 Jun 2 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2597.25 2651.50 3 months 2616.00 2668.00 Copper, Grade A (US$/tonne) Cash 8907.00 9090.00 3 months 8920.00 9102.00 Lead (US$/tonne) Cash 2408.50 2511.50 3 months 2405.00 2500.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)71 words
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PERSPECTIVE
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Article, Illustration1159 2011-06-04 28 Wayne Arnold - The March catastrophes could provide the impetus for sweeping reform of the political system, corporate behaviour and the labour market. By Wayne Arnold REUTERS BREAKINGVIEWS MACHIAVELLIwarned never to waste the opportunities afforded by a crisis. Japan today is struggling with an epic catastrophe: an anaemic economy struckREUTERS; AP - 1,159 words
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Article, Illustration597 2011-06-04 28 Iris W Hung - By Iris W Hung LUXURY goods boutiques, firstclass lounges at airports and plush hotels always seem so invitingly luscious, and for good reason too. Our research at NUS Business School has revealed that relaxation has significant marketing importance as it increases theFILE PHOTO - 597 words
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Wealth
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WEALTH INVESTING
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Article, Illustration942 2011-06-04 30/31 Rita Nazareth - Private equity specialists see earnings climbing, index rallying. By Rita Nazareth Bloomberg New York THE biggest retreat in the Standard Poor’s 500 Index since August is creating a buying opportunity for investors willing to withstand declines that may reach 10 per cent, according to Blackstone Group LP’sBloomberg; AP, BLOOMBERG - 942 words
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BROKERS' TAKE
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Article237 2011-06-04 30/31 Buy DMG Partners Research June 3 Close: S$1.30 CWT is selling its 13,547 sqm (gross floor area) chemical warehouse facility in Shanghai for 71 million yuan to Cache Logistics Trust. The facility is located in the Jinshan District, within one of the largest petrochemical bases in Asia, the237 words
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Article300 2011-06-04 30/31 DBS Group Research June 2 ANOTHER office block is up for sale as buyers leverage on the sharp increase in prices. The owner, German fund manager SEB, of 77 Robinson Road, formerly known as SIA Building, is expected to put the office building on the market for300 words
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Article226 2011-06-04 30/31 Lynn Kan - Compiled by Lynn Kan Underperform CIMB Research June 3 Close: S$19.38 WE visited UOB’s Indonesian operations and came away with the impression that it is ready to be more aggressive after spending the last two years setting the foundation right. UOB is ready to focus on certain226 words
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Article, Illustration1005 2011-06-04 32 Steven M Davidoff - Those hungry for tech stocks must beware of legal and political minefields. By Steven M Davidoff NYT IT DOESN’T hurt to be known as the Google of Russia. Shares of Yandex, the Russian search engine company, shot up more than 55 per centNYT; BLOOMBERG - 1,005 words
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Article, Illustration1205 2011-06-04 33 Teh Hooi Ling - Over the last 30 years, the increase was 3.9 per cent per year show me the money Teh Hooi Ling hooiling@sph.com.sg Senior correspondent ~The writer is a CFA charterholder THEpriceofproper-ty is one of the hot button issues in the recent generalSource: Compiled by BT with data from URA, Singapore Dept of Statitistics, Bloomberg - 1,205 words
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1257 2011-06-04 34 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 16 LANDED East View Gdn 1-Sd 06/05/2011 FH 3969 2280 574 Eastwood Terrace 3-Ter 05/05/2011 99 1935 16801,257 words
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Article, Illustration593 2011-06-04 35 The buyers, Kuok Khoon Hong and Martua Sitorus, are founders of the world’s largest palm oil processor, Wilmar Bloomberg London KUOK Khoon Hong and Martua Sitorus, the billionaire founders of the world’s largest palm oil processor, bought Aviva Plc’s headquarters building in LondonBloomberg; BLOOMBERG - 593 words
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Article, Illustration253 2011-06-04 35 KELLOCK Lodge, a freehold residential project at Kellock Road in the prime District 10, has been put up for collective sale with a price tag of $84 million and above. The asking price works out to $1,383 per square foot per plot ratio,253 words
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TRAVEL
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Article, Illustration1616 2011-06-04 2/3 Audrey Phoon - The financial crises of 1997 and 2008 winded Bintan, but the Indonesian resort destination has got its development plans back on track and is now rolling out its second phase and a fresh face.By face.By Audrey Phoon PICTURE this: A wreath of interlocking cubes, each onePHOTOS EXCEPT BINTAN TREASURE BAY BY JOHN HENG - 1,616 words
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Article161 2011-06-04 4 Audrey Phoon - By Audrey Phoon IF you’re planning to plonk down your cash for a plush LagoiBay villaor check out oneof AngsanaBintan’s renovated rooms this month, you might also like to stop by the island’s Bintan Cultural Festival. This annual affair, which is in its second year, will161 words
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Article, Illustration831 2011-06-04 5 Caroline Lim - Visiting Seattle and Vancouver in winter is an experience to be cherished. By Caroline Lim ~The writer is global head of HR corporate affairs, PSA International DECEMBER is a great time to visit Seattle, Washington. Maybe it’s the nip in the air or the festive Christmas831 words
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DINING
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Article, Illustration1781 2011-06-04 6/7 Geoffrey Eu - Instead of eating out, why not try something different and eat in at the homes of these enterprising cooks? By Geoffrey Eu WHAT with an invasion by celebrity chefs, a wave of new restaurant openings, and an ever-increasing list of culinary options to choose from, the dining scene1,781 words
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Article, Illustration1041 2011-06-04 8 Tan Teck Heng - Ayako Suwa has garnered international acclaim with her visceral take on food and art. By Tan Teck Heng TO SAY that Ayako Suwa’s work gives you food for thought or something to chew on might be an exercise in stale cliches, not to mention potentially annoying to the1,041 words
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WEEKEND WITH
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Article, Illustration1105 2011-06-04 9 Natalie Koh - Raised by artistic parents, it is only natural that Roman Scott has developed a keen interest in the visual arts.By arts.By Natalie Koh weekend with roman scott managing director calamander capital WELL-KNOWN as a commentator and adviser on global economic developments, a banking sector architect and1,105 words
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BEAUTY
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Article306 2011-06-04 10 / 11 Melissa Lwee - By Melissa Lwee ONCEbetterknown for ingbeautyproducts for home use, more skincare labels are moving up to the next level by lending their names to dedicated spas. Knowing that spa and aesthetic treatments are an effective way to showcase their products, the past few years have seen an306 words
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Article, Illustration687 2011-06-04 10 / 11 Audrey Phoon - By Audrey Phoon aphoon@sph.com.sg #05-05/06/07 Wheelock Place 501 Orchard Road Z6838-5060 www.clarins.com.sg IN an era where face-to-face communication is becoming painfully rare, there is little that is more precious than the human touch. That’s true for spas as well, where treatment rooms are increasingly filled with gadgets687 words
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Article, Illustration520 2011-06-04 10 / 11 Melissa Lwee - By Melissa Lwee The Shoppes at Marina Bay Sands, #B1-149 Z 6688-7321 It takes a certain serendipity to find a good business partner and for Shu Uemura and Action Hair Boutique, the stars seemed to have aligned perfectly for them. TheSHU UEMURA - 520 words
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Article, Illustration543 2011-06-04 10 / 11 Melissa Lwee - By Melissa Lwee mellwee@sph.com.sg #B2-40, The Shoppes at Marina Bay Sands Z 6688-7667 Back in 2007, the first Lancome Beauty Institute made its debut at the Goodwood Park Service Apartments, with the 200-sq-m institute slated as an outlet for fans to experience the French label’s products inLANCOME SALON 360 - 543 words
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DESIGN
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Article, Illustration569 2011-06-04 12 / 13 Clarissa Tan - styleDesigner furniture store Space’s new premises at Bencoolen Street considers every aspect of a home, down to the scent. By Clarissa Tan btnews@sph.com.sg PEOPLE strolling along Bencoolen Street may have noticed a marked change at No 77 lately. An old building that used to be a karaoke lounge569 words
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GADGETS
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Article, Illustration586 2011-06-04 14 Christopher Lim - The Great Singapore Sale and PC Show 2011 are packed with good price deals and promotional freebies on top-of-the-line gizmos. By Christopher Lim Geneva Sound System Model L, $2,199 If you are in the market for an audiophile-grade iPod speaker dock, Geneva Labs’ range of systems should definitely586 words
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HEALTH
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Article, Illustration1042 2011-06-04 15 Cheah Ui-Hoon - Amputation is not always the last resort if limb reconstruction can be done to salvage the damaged limb.By limb.By Cheah Ui-Hoon uihoon@sph.com.sg IN the event of bone tumours, accident or trauma where patients suffer from severe limb injuries, infection, or congenital conditions, limb reconstructions maybe a viableLAU FOOK KONG/THE STRAITS TIMES - 1,042 words
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SPORT
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Article, Illustration656 2011-06-04 16 Lee U-Wen - no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor WHILE most of the basketball fraternity was caught up in the fever of the ongoing NBA finals this week, one of the sport’s most dominating figures quietly announced that he was retiring for good atAP - 656 words
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580 2011-06-04 16 colette wong - grand slam with colette wong SCANNING through the list of players left in the French Open last weekend, I saw the men’s section going according to plan with the top five in the world safely making it through to the580 words
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GOLF
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Article, Illustration1142 2011-06-04 17 Justine Moss - Feng Shanshan was the first woman from China to join the LPGA in 2008 when she qualified on her first attempt. By Justine Moss btnews@sph.com.sg WHENprofessionalten-nis player Li Na reached the Australian Open Women’s final earlier this year, she became the first player from China to makeGETTY IMAGES - 1,142 words
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MOTORING
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Article, Illustration758 2011-06-04 18 Samuel Ee - The MC Stradale wears what looks like a big smile due to two new and very large air intakes flanking the familiar gaping grille and is Maserati’s fastest model. By Samuel Ee By Samuel Ee samuelee@sph.com.sg FOR a road car that has been tuned for the track, the758 words
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Article, Illustration570 2011-06-04 19 Samuel Ee - The new Hyundai Elantra is now in a more compact and even more attractive package. By Samuel Ee samuelee@sph.com.sg THINK of it as a smaller and sexier Sonata. The new Hyundai Elantra replicates the new i45’s “fluidic sculpture” styling but in a more compact and even more attractive570 words
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Article, Illustration612 2011-06-04 20 Samuel Ee - The Audi A1 supermini now has big power 185 hp to be exact. By Samuel Ee samuelee@sph.com.sg DOWNSIZED doesn’t have to mean sacrificed. In the case of the Audi A1 supermini, it now has big power 185 hp to be exact. The A1 with its two doors and612 words
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Page 36 Advertisements
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Advertisement26 2011-06-04 36 Published and printed by Singapore Press Holdings Limited. Co. Regn. No. *****2868E. A member of Audit Bureau of Circulations Singapore. Customer Service (Circulation): 6388-3838, circs@sph.com.sg, Fax26 words
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Advertisement58 2011-06-04 1 DINING Home comforts L6-7 WEEKEND WITH An eye for art L9 LivingTHEBUSINESSTIMESWEEKEND|JUNE4-*****BTTHE BUSINESS TIMES WEEKEND JUNE 4 5 2011 ISLAND IN THE SUN Indonesian resort destination Bintan rolls out second phase of development GADGETS Deal clinchers L14 BEAUTY Trust the brand? Try the spa L10-11 MOTORING Audi A1: Horsepower hatch58 words
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Advertisement45 2011-06-04 6/7 ZENITH AFFAIR TAILORED For er&/ 0/2/CZ/(Z/^ so// 1 JUne 201 1 (Thursday Saturday) 11 am 7pm Hilton Hotel shopping Gallery, Level ring ,hi discou m^^cua. 67,33 99 ,P •™"'"teniffiS r^ L •59c M aff es Hote Arcad 328 North Bridge Road com.sg igapore *****9 #02-3645 words
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Advertisement816 2011-06-04 12 / 13 wine&dine with BTWeekend Bar on 5 Mandarin Orchard Singapore, Level 5 333 Orchard Road Z6831-6288 Bar on 5 is the ideal place to chill out and unwind after a hard day’s work. Located five floors above Orchard Road, it provides a fabulous view of the shopping belt. The beverage menu816 words
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Advertisement28 2011-06-04 14 MAT3 CLASSIFIED Find professional electricians... _i To find out more, turn to CLASS 96 in I CATS Classified in The Straits Times now. BUY IT• SELL IT-FIND IT28 words
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Advertisement168 2011-06-04 15 v. Total Orthopaedic Care An integrated approach by Orthopaedics International Since 1993, we have been serving the orthopaedic needs of the local and international community. Today, we have entrenched our foothold in Singapore and are well-positioned to provide comprehensive orthopaedic care that leverages on combined group expertise and experience. With168 words
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