The Business Times, 17 June 2011

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Total Pages: 34
1 34 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|Sl A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Friday, June 17,2011
    23 words
  • 659 1  -  Exuberant punters feel the sting from HK to S’pore By JAMIE LEE [SINGAPORE] Samsonite proved to be a lightweight in the listings market, joining a string of IPOs including those in Singapore that have faltered in recent times due to poor market sentiment. The US
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  • 1110 1  -  By MICHELLE QUAH [SINGAPORE] These past few months have been utterly surreal for her, says Susan Lim. But the damage has been concrete. It can even be measured in dollars and cents. Her practice, once among the most
    ARTHUR LEE  -  1,110 words
  • 144 1 HST INDEX 3,020.13 (-34.69) H ST INDEX FUTURES 3,020.00 (-35.00) H SIMSCI 348.55 (-4.52) H SIMSCI FUTURES 348.10 (-4.60) FOREX US$ S$ US$ (S$ per US$) 1.240 (US$/S$ per 1.614 2.003 EURO (US$/S$/E) 1.414 1.754 Foreign currency per US$ S$ YEN 80.60 65.00 RM 3.045 2.454 HK$ 7.795
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  • TOP STORIES
    • 1381 2  -  Susan Lim describes the tumultuous years of treating a remarkable patient By MICHELLE QUAH [SINGAPORE] Susan Lim says she is known to the Hyatt staff as the doctor who goes up and down the hotel with oxygen tanks, and the one
      ARTHUR LEE  -  1,381 words
    • 509 2 Market bulls meet their Delilahs SAMSONITE proved to be a lightweight in the listings market, joining a string of IPOs including those in Singapore that have faltered in recent times due to poor market sentiment. The US luggage maker, named after the mighty Biblical character Samson, slumped on
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    • 566 2  -  By JOYCE HOOI [SINGAPORE] Maersk Drilling is gearing up to grow its presence in Singapore, having flagged nine of its rigs to the Singapore flag at the start of this year, its chief executive officer Claus Hemmingsen told BT in an exclusive
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    • 800 4  -  By GRACE LEONG [SINGAPORE] An upscale gaming area exclusively for casino whales is being planned for the 55th floor of Marina Bay Sands, Las Vegas Sands president and chief operating officer Michael Leven has disclosed. “We’re in the process of designing a
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    • 761 4  -  Top bid by Frasers Centrepoint just 1.3% above nearby plot sold last year By KALPANA RASHIWALA [SINGAPORE] Developers may be starting to get cautious with land bids for 99-year leasehold mass-market condo sites as they heed the pronouncements of National Development Minister Khaw
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    • 349 4  -  By UMA SHANKARI [SINGAPORE] National Development Minister Khaw Boon Wan yesterday said that the rising age of first-time applicants for new HDB flats justifies revising the income ceiling. Writing in his blog, Mr Khaw said that first-time applicants who applied under HDB’s
      FILE PHOTO  -  349 words
    • 312 4 Reuters [ROME] The Italian government has asked Lorenzo Bini Smaghi to leave the board of the European Central Bank under a deal to have Bank of Italy chief Mario Draghi named as ECB head, Prime Minister Silvio Berlusconi said yesterday. “There is
      Reuters  -  312 words
  • Page 2 Advertisements
    • 519 2 FIRST SHIP LEASE TRUST (a business trust constituted on 19 March 2007 under the laws of the Republic of Singapore) Managed by FSL Trust Management Pte. Ltd. (“the Trustee-Manager”) CONFIRMATION OF BOOKS CLOSURE STUB DISTRIBUTION PAYMENT DATES NOTICE IS HEREBY GIVEN THAT the Transfer Books and Register of Unitholders of
      519 words
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  • Page 4 Advertisements
    • 720 4 m METRO (Company Registration No. *****1792W) METRO HOLDINGS LIMITED (Company Registration No. 197 (Incorporated in the Republic of Singapore) PROPOSED BONUS ISSUE NOTICE OF BOOKS CLOSURE, EFFECTIVE TRADING DATES AND EFFECTIVE DATE FOR ADJUSTMENTS TO THE WARRANTS IN CONNECTION WITH THE PROPOSED BONUS ISSUE TO: ALL HOLDERS OF WARRANTS ("WARRANTHOLDERS")
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  • Page 5 Advertisements
    • 201 5 SINGAPORE SERVICE EXCELLENCE MEDALLION Recognising the heart of excellence The Singapore Service Excellence Medallion celebrates the pinnacle achievement in a new paradigm of service excellence. BW yVyVvVyVG V AT AT yV y\GV yV yV yVyVyVyV, V AT K /r a /t "a r r" A rr A r GG VG
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  • COMPANY NEWS
    • 368 6  -  M’sian Employees Provident Fund buys 20% stake worth an estimated $640m By UMA SHANKARI GUOCOLAND, which is controlled by Malaysian tycoon Quek Leng Chan, yesterday said it has sold a 20 per cent stake in its upcoming $3.2 billion mixed-use development above
      368 words
    • 383 6  -  By FELDA CHAY MARKET Street Car Park will be closed for good at the end of this month for demolition and an ultra-modern Grade A office tower will spring up in its place before the end of 2014. CapitaCommercial Trust (CCT),
      FILE PHOTO  -  383 words
    • 828 6  -  HOCK LOCK SIEW By R SIVANITHY THERE are disturbing parallels between China stocks listed here (or S-chips, as they are known) and Malaysian stocks that used to be quoted on Clob International. First, both were admitted into the local market because it was
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    • 519 7  -  With its latest order, it looks set to make some play for Asia-Europe trade By JOYCE HOOI NOL Group’s move to catch up with the big-ship boys with its latest ship order might be part of a change in strategy, according to those watching
      519 words
    • 343 7  -  Earnings hit by falling US dollar, rising raw material prices By WINSTON CHAI THE weakening greenback and rising raw material prices dragged Medi-Flex’s third-quar-ter net profit down 37 per cent to RM945,000 (S$385,377), from RM1.5 million a year earlier. Earnings per share for the
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    • 217 7  -  Four-year deal comes from a European oil major By CARINE LEE EZION Holdings’ 50:50 joint-venture company, Atlantic Labrador Pte Ltd, has secured a charter contract worth up to US$73 million over four years, to provide a North Sea Class accommodation jack-up rig for use
      217 words
    • 367 7 Reuters OIL services provider Ezra Holdings aims to win around US$300 million of new subsea service contracts in Asia by April next year as the depletion of shallow fields in the region results in more deepwater drilling projects. Asia
      Reuters  -  367 words
    • 539 10  -  But companies here are second most profitable after HK’s, says Citi By JAMIE LEE SINGAPORE’S corporate earnings in the year till May are farthest away from its prior peak in comparison to its Asian peers though companies here are the second most
      REUTERS  -  539 words
    • 343 10 Projects bring the firm’s order book to $184m STRUCTURAL steel specialist TTJ Holdings has won four Singapore industrial construction projects worth $15 million, bringing its order book to $184 million. Two of the contracts will be for works for the Singapore LNG Terminal
      343 words
    • 329 10  -  By MICHELLE TAN A NEW mobile stock trading application, called POEMS Android, is the latest by-product of a collaboration between PhillipCapital and Samsung Electronics which aims to tap the burgeoning mobile broadband market. Slated to be launched this month and pre-loaded on Samsung’s flagship mobile
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    • COMPANY BRIEFS
      • 113 10 METAL Component Engineering has reached a settlement with its former subsidiary MCE Industries (Thailand) Co Ltd (MCET) over the latter’s US$285,231.85 claim. MCET, which was previously 80.3 per cent owned by Metal Component, issued its former parent a letter of demand in March this year
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      • 118 10 BOUSTEAD Singapore Ltd announced that its energy-related engineering division has recently secured approximately $23 million in contracts from the oil gas and petrochemical industries. The contracts involve the design, process engineering and construction of key large scale process systems for downstream oil refineries and gas
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      • 171 10 STX OSV Holdings Ltd has entered into a joint venture with Industrial Control Design AS (ICD) of Norway to establish a new company for the development of offshore handling systems. The new company will be registered in Norway. STX OSV will hold 51
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  • Page 6 Advertisements
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  • Page 7 Advertisements
    • 294 7 Yours to oiaSHJ final rot&ast of special units iA/itfo private, entertainment terraces. BELLEVUE RESIDENCES I 1 V !li I •sMs skmtina«L_5P3" m: BKD«EOm I ll! i'ttf'V Si I|li!!IR •■V HI —r sfflH i >r ■p. n*K Nature Paraphrased. For the Epitome of Living. as I I i 'i IB <
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  • SINGAPORE MARKETS
    • 578 8  -  Growing fears on Wall Street of double-dip recession but US policy-makers see weak data as indicating a ‘soft patch’ STOCKS R SIVANITHY Senior Correspondent WALLStreet’sWednesdayplunge reverberated around the region yesterday, cutting 34.69 points or 1.1 per cent off the Straits Times
      Source: Bloomberg  -  578 words
    • 186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 2 12 2 0 0 0 2 12 2 Manufacturing 18 87 53 2 7 7 20 94 60 Commerce 5 38 19 2 4 4 7 42 23 Tpt/Stor/Comms 4 28 10
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    • 119 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 42,531 42,531 85,011 85,011 Manufacturing 198,808 4,933 203,741 200,448 280 200,729 Commerce 76,293 3,781 80,074 144,408 544 144,953 Tpt/Stor/Comms 170,343 10,537 180,880 250,608 1,427 252,035 Finance 22,769 22,769 202,118 202,118 Construction 45,493 4,708 50,201 8,198
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    • 110 8 Stock name Close Change Stock name Close Change CapMallsAsia 1.450 -0.010 CapitaLand 2.820 -0.050 CapitaMall 1.950 CityDev 10.200 -0.220 ComfortDelGro 1.390 -0.010 DBS Grp 14.120 -0.140 F&N 5.550 -0.080 GLP 2.020 -0.050 Genting SP 1.860 -0.020 Golden Agri 0.665 -0.005 HK Land 7.340 -0.100 JMH 51.560
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    • 4 8 DAILY
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    • 64 8 Jun 16 VALUE CLOSE BT OB/OS -900.00-121.00 BT CADI -*****.00-247.00 BT 10-day MA -*****.00 -90.00 FTSE ST Mid Cap 729.89 -4.00 FTSE ST Small Cap 503.49 -6.64 FTSE ST All Share 739.30 -7.87 FTSE ST China Top 247.40 -3.52 FTSE ST China 289.01 -3.89 FTSE ST Catalist
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    • 61 8 VOLUME Genting SP 80,229,000 Golden Agri 48,781,000 HPH Trust US$ 40,313,000 SingTel 29,016,000 Noble Grp 28,134,000 CapitaMall 25,328,000 CapitaLand 21,635,000 Yangzijiang 20,120,000 Spice i2i 19,668,000 *Genting HK US$ 19,255,000 VALUE($) Genting SP 148,309,000 SingTel 88,536,440 DBS Grp 73,315,980 CapitaLand 60,725,660 Keppel Corp 56,219,030 Noble Grp 54,126,690 OCBC
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    • BROKERS’ TAKE
      • 337 8 June 16 close: $1.21 DMG PARTNERS SECURITIES, June 16 OUR roadshow with STX OSV in Europe last week left us feeling positive on the company’s ability to capture more new orders for offshore support vessels (OSV) and execute the projects well. Proper risk management is in place to
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      • 609 8  -  Compiled by LYNETTE KHOO June 16 close: $1.53 DBS Vickers, June 16 CLOSE on the heels of its recently announced $300 million 4.4 per cent notes issue, NOL Group announced the signing of LOIs for 12 new ships with Korean shipyards due for delivery in 2013-14. The
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      • 135 8 Ebit earnings before interest and tax Ebitda earnings before interest, tax, depreciation and amortisation EPS earnings per share FY fiscal/financial year H1, H2 first or second half m-o-m month on month NAV net asset value 9M nine months P/B price/book value (ratio) PE price/earnings (ratio) Q1, Q2, Q3 first,
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    • 440 8 CURRENCIES AFP [TOKYO] The euro fell to its lowest level in three weeks against the US dollar in Asian trade yesterday amid fears over contagion from Greece’s deepening debt woes, dealers said. The single currency plunged on Wednesday after eurozone finance ministers
      AFP; BLOOMBERG  -  440 words
    • 108 8 BY CENTS CLOSE UP DBXT S&P Short 10US$ 4390 67.0 1.2 GLD 10US$ ***** 64.5 0.4 HsuFuChi 390 22.0 6.0 Isetan 370 15.0 4.2 DBXT MSMSIA 10US$ 1332 7.4 0.5 Pertama 64.5 7.0 12.2 SIMSCI350MBePW*****9 29 5.5 23.4 Heng Long 45 5.0 12.5 STI 3200BNPePW*****8 42 5.0 13.5 Vicom
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    • 120 8 BY CENTS CLOSE DOWN DBXT Nifty 10US$ *****-204.6 -1.3 DBXT MSKorea 10US$ 6086-168.7 -2.2 Jardine C&C 3900-150.0 -3.7 Lyxor Europe 10 US$ 1332-140.1 -7.8 IS DJ US Tech 6222-137.7 -1.8 DBXT SPASX200 10US$ 3471-110.4 -2.5 DBXT FTChina25 10US$ 3066 -83.1 -2.1 DBXT MSJAP 10US$ 3697 -81.9 -1.8 DBXT MSAsExJp
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    • 5 8 DAILY
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  • Page 9 Advertisements
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  • Page 10 Advertisements
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  • SINGAPORE NEWS
    • 588 11  -  Spratly incidents since March ‘particularly dangerous’ By LEE U-WEN DESPITE Singapore being a neutral party, it is in the Republic’s interest to ensure that disputes of other countries over islands in the South China Sea do not threaten regional peace and stability, former
      588 words
    • 332 11  -  By WONG SU-JIN THE Trumpf Group is expanding its medical systems business in the AsiaPacific with the setting up of a regional headquarters for that division in Singapore. The German group yesterday opened its Medical Technology Center, boasting exhibition rooms outfitted with its state-of-the-art
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    • 356 11  -  LTA to build the line’s northern-most MRT station there, expected by 2018 By UMA SHANKARI THE Land Transport Authority (LTA) plans to build an MRT station near Republic Polytechnic in Woodlands to integrate the upcoming Thomson Line with
      356 words
    • 425 11  -  By TAM YU LING INCONVENIENCES caused by the construction of the new Downtown Line have prompted residents of Maplewoods Condominium in Bukit Timah to sign a petition to Prime Minister Lee Hsien Loong. The petition was signed by 65 per cent of
      RAJ NADARAJAN/THE STRAITS TIMES  -  425 words
    • 275 11  -  By REBECCA LIU STUDENTS from Institutes of Technical Education (ITE) will soon get a leg up to head into the booming MICE sector. Singex Venues and ITE have signed aMemorandum of Understanding (MOU) to allow students to participate in the meeting, incentive, convention
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  • Page 11 Advertisements
    • 250 11 NANYANG TECHNOLOGICAL UNIVERSITY Nanyang Business School NANYANG EXECUTIVE MBA Global Leadership for the Asian Century <5 v Bosco Ngan Group Chairman GMT Shipping Group Liem Ay LingBl Resource MobilizationTand Brian Bonde General Manager SEA Aria Foods Ingredients UNIVERSITY OF PENNSYLVANIA Aresty Institute of Executive Education University of California Berkeley Haas
      250 words

  • EMERGING ENTERPRISE
    • 955 12  -  JSL Manufacturing, which has its roots in JSL Engineering, provides customised engineering solutions, says WONG SU-JIN WONG SU-JIN THOUGH incorporated as a private limited company only in 2007, familyrun JSL Manufacturing can boast a much longer tradition of expertise in engineering. The young start-up
      ARTHUR LEE  -  955 words
    • 779 12  -  SimPlus’s annual income has more than doubled every previous year’s earnings since start-up five years ago, says ENYA LIM ENYA LIM DESPITE an industry full of international players, there’s little doubt that newbie niche software provider SimPlus is going places. After all, since
      ARTHUR LEE  -  779 words
  • Page 12 Advertisements
    • 80 12 These are the ninth and tenth of a series of features on the 15 finalists of the Emerging Enterprise 2011 Awards. Jointly presented by The Business Times and OCBC Bank, EE 2011 recognises promising enterprises which are up to 10 years old and have an annual turnover of $10 million
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  • MALAYSIA/INDONESIA
    • 524 13 Reuters [JAKARTA] Indonesian militant cleric Abu Bakar Bashir was jailed for 15 years yesterday for his involvement with a group that aimed to kill the country’s president. Jailing Bashir has been seen as an important step in the Indonesian government’s efforts to
      Reuters; REUTERS  -  524 words
    • 419 13 This is in retaliation for crackdown on entertainment piracy AP [KUALA LUMPUR] Hackers disrupted dozens of Malaysian state-linked websites yesterday, fulfilling a threat to batter the government’s digital defences in retaliation for a crackdown on entertainment piracy. At least 51 websites suffered cyber-attacks
      AP  -  419 words
    • 448 13 Transfer to related company Aabar Investments pegged at RM 10.80 a share [PETALING JAYA] Abu Dhabi Commercial Bank Bhd (ADCB) has received the green light from Bank Negara to sell its 25 per cent stake in RHB Capital Bhd to sister company
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  • Page 13 Advertisements
    • 103 13 The world class EMBA program where top executives converge. Ranked No.1 in the world by Financial Times (2010 2009) Source: 2010 and 2009 EMBA Survey by FT Join our information session to find out how you can realise your potential within our elite group. emba@ust.hk www. b m. ust. h
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  • ECONOMY WATCH
    • 612 14 Govt backs plan to overhaul industry, protect taxpayers Reuters [LONDON] Britain’s top banks will have to protect their retail business from investment banking activities after the government backed a plan to overhaul the industry and shield taxpayers from future losses. Finance minister George
      Reuters; BLOOMBERG  -  612 words
    • 237 14 Reuters [SEOUL] South Korea said yesterday that it would revise capital market regulations to allow homegrown hedge funds, betting that the move would grow its financial industry, improve market liquidity and encourage funds into new business areas. The revision comes after the country’s capital
      Reuters  -  237 words
    • 390 14 Japan’s ruling party aims to raise both corporate and income taxes by around 10% Reuters [TOKYO] Japan’s ruling party aims to raise corporate and income taxes to repay new government bonds for funding massive reconstruction needed after the March 11 earthquake and
      Reuters  -  390 words
    • 409 14 They want to boost the US$25m annual budget by 15% AFP [BONN] Administrators tasked with running the UN’s talks on climate change have put out the begging bowl to help implement deals that in theory could reach a hundred billion dollars a year.
      AFP  -  409 words
  • Page 14 Advertisements
    • 27 14 www.omy.sg SINGAPORE AWARDS iff jp bp if t§ 2 0 11 http://sgblogawards.omy.sg ioci t\A ►yuui a i a. vOurit©j bloggers tir ,'ifei rntess! kVXP.teiarn'cEirn] [att ractiyei prizes!
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    • 64 14 Choice Community T«dian Of The C' mtu 4""°*^ Stumpy takeS s 1 IP lljjp 88 5£g J > 1 Incisive features from India, news about the local Indian community, as well as business, education, entertainment, food and sports... with an Indian slant of course. An English weekly available free every
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    • 220 14 SPREAD THE LOVE DAZZLE AT Chil'Jl "a*] A child ren'j charity concert for The Straits Times School Pocket Money Fund SiThe Business Times Budding Artists Fund u Extend your iove through Friendship and Hope, the theme for ChildAid 2011 an annual charity concert in aid of The Straits Times School
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  • GREATER CHINA/INDIA
    • 576 15 Economists expect further hikes of 50 basis points as inflation stays high Reuters [MUMBAI] India’s central bank raised interest rates yesterday for the 10th time since March 2010 and said it will persist with its battle against inflation, even as growth slows in
      Reuters  -  576 words
    • 441 15 They’re first foreign banks in line to win coveted licences [SHANGHAI] The China units of HSBC Holdings and Citigroup Inc have won initial approval to underwrite corporate debt in China, paving the way for them to be the first foreign banks to
      REUTERS  -  441 words
    • 324 15 Reuters [HONG KONG] Melco Crown Entertainment, the Macau casino venture owned by Australian billionaire James Packer and Lawrence Ho, has spent US$360 million to gain a majority stake in a large scale gaming and entertainment resort in Macau, a move likely to increase
      Reuters  -  324 words
  • Page 15 Advertisements
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  • WORLD
    • 607 16 Reuters [ATHENS] A string of parliamentary resignations yesterday threatened to thwart Greek Prime Minister George Papandreou’s plan to reshuffle his cabinet and pass new austerity measures needed to save Greece from default. The reshuffle reflects the unpopularity of the austerity measures and follows
      Reuters; REUTERS  -  607 words
    • 455 16 Euro lawmakers try to settle dispute on likely Greek default Bloomberg [FRANKFURT] Ireland opened a new front in the drive to restructure debt on the euro area’s periphery, adding to the European Central Bank’s concerns as it tries to head
      Bloomberg  -  455 words
    • 513 16 Current-account deficit increases less than forecast in Q1 to US$119.3b LATEST US DATA Bloomberg [WASHINGTON] Housing starts in the United States increased more than forecast in May, while the country’s current-account deficit rose less than forecast in the first quarter, lending hope
      Bloomberg  -  513 words
    • 630 16 Reuters [LONDON] If emerging countries have been the only fully functional engine of the world economy since the credit crisis, then the rising chorus of concern about the outlook for financial markets there must arouse alarm. Anxiety about the US slowdown and pumped-up world
      Reuters  -  630 words
    • 360 16 Bloomberg [LONDON] Glencore International chief executive officer Ivan Glasenberg has had US$1.1 billion wiped off the value of his stake in the company in three days as the stock slumps on missed earnings estimates and lower commodity prices. Mr Glasenberg, 54, owns 15.7
      Bloomberg  -  360 words
    • 591 18  -  Earlier report says he would step down if Democrats fared worse than before By LEE U-WEN [SINGAPORE] Thai Prime Minister Abhisit Vejjajiva has denied a report that he would quit if his Democrat party won fewer than the 165 seats it had captured at
      BLOOMBERG  -  591 words
    • 532 18 Bloomberg [NEW YORK] Hershey Co, the maker of chocolate Kisses and Reese’s candies, promoted John Bilbrey to chief executive officer to lead its push into developing markets. Mr Bilbrey, 54, was also named to the board, the Hershey, Pennsylvania-based company said on Wednesday.
      Bloomberg  -  532 words
    • 581 18 AP [SAN FRANCISCO] As IBM turns 100 this year, the anniversary coincides with another milestone: CEO Sam Palmisano is turning 60, the typical age at which an IBM CEO retires. With succession chatter growing, Mr Palmisano has tried to tamp down speculation that
      AP  -  581 words
    • 360 18 Reuters [NEW YORK] Citigroup Inc said a cyber attack in May affected almost twice as many people as the bank’s figures had initially suggested, as major US lenders come under growing pressure from lawmakers to improve account security. A total of 360,083
      Reuters  -  360 words
    • 394 19 The tax is a make or break issue for PM Gillard, who is struggling in opinion polls Reuters [CANBERRA] Australia’s minority government, struggling to push through a tax on carbon emissions, has angered key independents involved in drafting the tax by
      Reuters  -  394 words
    • 575 19 AFP [SYDNEY] The longest lunar eclipse in more than a decade turned the moon blood red yesterday, giving stargazers around the world a rare visual treat. The first eclipse of the year when the Earth casts its shadow over the
      AFP; REUTERS  -  575 words
    • 481 19 The suit also alleges strong-arm tactics to shift customers Bloomberg [SAN FRANCISCO] HewlettPackard Co (HP) sued Oracle Corp over claims that in a period of eight months Oracle went from partner to “bitter antagonist” and has breached its contract. The lawsuit, filed on
      Bloomberg  -  481 words
  • Page 16 Advertisements
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    • 46 16 tablat THE HEARTBEAT OF THE INDIAN COMMUNITY CHENNAI: INDIA'S DETROIT? =r V s. a* It wants to be the world's No.l car-manufacturing city FOUR INDIANS IN S'PORE J SPECIAL OLYMPICS SQUAD 1 B (t l GET YOUR COPY TODAY FROM ALL 7-ELEVEN OUTLETS WHILE STOCKS LAST
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  • Page 17 Advertisements
    • 1851 17 A SPECIAL SERIES BROUGHTTOYOU BY SHAREINVESTOR FREE REGISTRATION 18th June 2011 8.00am 5.30pm DBS Auditorium, DBS Building Tower One, 6 Shenton Way, Singapore LUNCH WILL BE PROVIDED PRESENTING MALAYSIAN LISTED COMPANIES IN SINGAPORE EVENT HIGHLIGHTS: Welcome Address by Mr. Patrick Daniel, Editor-in-Chief, English Malay Newspapers Division of SPH and Dato’Tajuddin
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  • Page 18 Advertisements
    • 2013 18 *\%>]*$&)"*<,)`&+$$?[<."@%)\!%\ IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF EMP-DAIWA CAPITAL ASIA (SINGAPORE) PTE. LTD. (Registration No. *****0335G) (In Member’s Voluntary Liquidation) NOTICE OF RESOLUTIONS [Pursuant to Section 290(2)(b)] An Extraordinary General Meeting of the Company deemed to have been convened pursuant to Section
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  • Page 19 Advertisements
    • 1958 19 BEATS NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF KVAERNER JOHN BROWN PTE LIMITED (In Members' Voluntary Liquidation) Reg No. *****2937D ("the Company") NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the Company duly convened and held
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  • EDITORIAL & OPINION
    • 508 20 EDITORIAL LATE last month, the Organisation for Economic Co-op-eration and Development (OECD) released its first-ever Your Better Life Index a tool that’s part of a larger initiative to gauge the well-being and progress of society in its 34 member countries, and just
      508 words
    • 824 20  -  THE BOTTOM LINE NICHOLAS D KRISTOF NYT AS we search for paths out of America’s economic crisis, many suggest business as a paradigm for cutting costs. According to my back-of-the-envelope math, top CEOs earn as much as US$1 a second around
      NYT  -  824 words
    • 1175 20  -  Leaders will have to make hard choices to make Asean more competitive, strong and attractive By ALEX HUNGATE Alex Hungate is CEO of HSBC Singapore THE spotlight shone on Jakarta again this month as ministers, bankers, captains of industry and lobbyists convened
      REUTERS  -  1,175 words
    • 1260 21  -  A default verdict from rating agencies looks likely, but this may be temporary and not too damaging By NEIL UNMACK GEORGE HAY WHEN is a country in default? In Greece’s case, the answer depends on who you ask. Eurozone politicians want holders of the country’s
      AFP  -  1,260 words
    • 943 21  -  By TERESA LIM The writer is managing director, IBM Singapore, and this article was written in conjunction with IBM’s 100th-year anniversary yesterday EVERYDAY, people all over the globe struggle to feed their children, educate themselves and rebuild lives wrecked by natural disasters. Yet governments and non-profits,
      STOCKXCHNG  -  943 words
    • 159 21  -  LETTER TO THE EDITOR Juliana Chow Deputy Director Corporate Communications Energy Market Authority WITH reference to the article, “Opening of LNG import market here may be speeded up” (BT, June 15), the Energy Market Authority (EMA) would like to clarify
      159 words


  • SHIPPING/AVIATION
    • 573 22  -  SSA members had engaged tripartite partners since it was mooted in 2001 By GEORGE JOSEPH [SINGAPORE] Singapore shipowners welcomed the government’s ratification of a proposed Bill of Rights for seafarers, saying that as responsible operators, they are ready to meet their obligations under
      573 words
    • 3378 22 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 Amsterdam LO4031
      3,378 words
    • 535 22  -  By S JAYASANKARAN in Kuala Lumpur MALAYSIA Airlines (MAS) said yesterday that it expects “double digit” growth in profit by joining the Oneworld global aviation alliance. Managing director and chief executive Tengku Azmil Zahruddin told the press yesterday that the increase in
      BLOOMBERG  -  535 words
    • 526 22  -  Regional aircraft scheduled to go into service in 2014 By in ANTHONY ROWLEY in Tokyo ASIA’S fledgling civil aerospace industry took a step forward yesterday with the announcement by Mitsubishi Aircraft Corporation that it has signed a memorandum of understanding with a
      526 words
    • 264 22 Bloomberg [WELINGTON] Australia and New Zealand flights were disrupted for a fifth day by a cloud of volcanic ash blown across the Pacific Ocean from Chile. Qantas Airways Ltd and Virgin Australia cancelled all trans-Tasman flights yesterday, the airlines
      Bloomberg  -  264 words
    • 399 22 Xinhua [SINGAPORE] As latest statistics released from the major economies suggest slowdown in global economy ahead, most research houses have sounded cautious note on Asian con-tainer-shipping sector for the second half of this year. Recent new flows within the Asian container-shipping industry do not bode
      Xinhua  -  399 words

  • SINGAPORE STOCKS
    • 8370 23 Transaction date: Jun 16 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 15 8Telecom 15.5 14.5 16.5 7.8 3.9 3.2 74.2 12 4.5 A-Sonic 7.5 unch 848 7.5 7
      8,370 words
    • 1570 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 5.5 4 t AA Grp 4 4 4.5 19 3.9 202 154 t APStrategic 161 138 158 95.5 1.5 0.5 t Advanced System 0.5
      1,570 words
    • 9867 24 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.34/ APS Alpha Fund (USD)!** 1.08/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM -Talents Fund 0.72/ Aberdeen Asset Mgt Asia Limited American Opp 0.6378/ Asian Credit Fund
      9,867 words
    • 244 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 $mil 56 34 AVJennings A46 46 48.5 3.6 7.6 3.7 119.8 55 17.5 Genting HK US$ US34 -1.5 ***** 35.5 33.5 34 34.5 2238.7 21 12 Over&Gen A15
      244 words
    • 887 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 $mil 124 108 ABF SG Bond ETF 118 115 118 538.6 1077 830 CIMBAsean40 100US$ US1026 -10 20 1026 1026 998 1022 41 350 283 DBS STI
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  • FINANCE & COMMODITIES
    • 374 25 In local curr In S$ In US$ dy yr dy yr dy yr Jun 15 Index Change Change Change Change Change Change World Index Preliminary 884.6 -1.0 -1.5 -1.1 -3.1 -1.4 0.6 EAFE Preliminary 767.2 -0.9 -4.2 -1.4 -3.7 -1.6 0.0 Europe Preliminary 1138.3 -1.3
      374 words
    • 184 25 Jun 16 $S Offer Bid 0vernight 0.05 0.02 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.05 US$ Offer Bid 7 days 0.23 0.13 1 month 0.28 0.18 2 months 0.32 0.22 3 months 0.36 0.26 6 months 0.46 0.36 9 months 0.70 0.50 12
      184 words
    • 22 25 Jun 16 S$ Bid Offer 1-month 1.2402 1.2406 2-months 1.2401 1.2406 3-months 1.2401 1.2405 6-months 1.2398 1.2402 Source: OCBC
      22 words
    • 123 25 Jun 16 As at 9am Jun 16 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.353 1.277 Can dollar 1.289 1.24 Euro 1.79 1.722 Sterling pound 2.043 1.965 NZ dollar 1.026 0.978 US dollar 1.256 1.208 Local dollars to 100 units
      123 words
    • 27 25 Jun 16 Open High Sett STI Jun 3020 SIMSCI Jun 352.6 353.6 348.1 Taiwan Jun 309.3 309.3 303.9 Source: MF Global (S) Pte Ltd
      27 words
    • 65 25 Jun 16 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 11 3279 3218 3283 3218 883 7358 Jul 11 3255 3200 3267 3200 7531 ***** Aug 11 3250 3193 3265 3193 ***** ***** Sep 11 3240 3198
      65 words
    • 469 25 Jun 16 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Sep11 99.5850 0 8291 Dec11 99.5350 0 3313 Mar12 99.4950 0 1647 Jun12 99.4200 0 1666 EUROYEN TIBOR FUTURES Sep11 99.6650 99.6675 99.6650 99.6675 16 1201 Dec11 99.6650 99.6650 99.6600 99.6650 100 1362 Mar12 99.6650 99.6650 99.6550
      469 words
    • 147 25 Jun 16 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Jul 11 106 Aug 11 503.5 502.0 502.0 25 58 Sep 11 310 Oct 11 492.0 489.0 489.0 4 186 Nov 11 489.5 489.5 489.5 8 177 Dec 11
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    • 81 25 Jun 16 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****N 15.09.2011 0.33 0.30 0.27 1-Year BY*****X 02.05.2012 0.42 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0V 1.625 01.04.2013 102.12 5-Year N*****0W 1.125 01.04.2016 100.35 100.48 100.44
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    • 107 25 Jun 15 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 11 1368.00 unch 1375.50 1354.50 Aug 11 1364.75 1362.50 1370.00 1351.75 Sep 11 1362.75 1360.75 1366.50 1349.25 Nov 11 1366.75 1363.75 1371.00 1352.25 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 11 57.05
      107 words
    • 77 25 CRUDE OIL PRODUCTS Jun 15 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 117.92 -1.96 WTI (Near Mth) 95.27 -3.93 Dubai (1-Mth F) 110.68 -0.74 Tapis blend 124.78 -1.04 Minas 120.88 -1.04 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 105.14 1.03 Jet Kerosene 132.10 -0.15 US$/barrel Opec Oil
      77 words
    • 2581 25 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 23.5 1 150 8 6.85 35 ASJ Hldgs W*****1 1.5 1 4 10 3.33 8 AlliedTech W*****2 2 1 4 29 Asia Water Tech Ltd W*****8 3.5 unch
      2,581 words
    • 462 25 Jun 16 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.034 6.828 0.746 8.218 47.280 90.660 0.850 11.487 3.210 1.313 90.534 45.934 1.308 7.227 0.898 30.565 32.250 0.653 1.054 Canada 0.967 6.604
      462 words
    • 85 25 Jun 16 (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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
      85 words
    • 138 25 Jun 16 GOLD (US$/oz) Jun 15 Jun 16 Hong Kong 1522.50 1527.30 Jun 14 Jun 15 London 1521.70 1530.70 1522.45 1531.45 Source: Thomson Reuters CAST BAR Jun 16 (S$) Selling Buying Kilobar 65,270 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 146 61 5gm 415 305 10gm 741
      138 words
    • 71 25 Jun 15 Jun 15 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2561.00 2596.75 3 months 2591.00 2627.00 Copper, Grade A (US$/tonne) Cash 9142.75 9157.25 3 months 9154.00 9169.00 Lead (US$/tonne) Cash 2502.50 2567.00 3 months 2518.00 2580.00 Nickel (US$/tonne) Cash *****.50 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
      71 words
    • 154 25 Jun 16 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3073 1.3081 1.0541 1.0544 Canadian dollar 1.2643 1.2653 1.0195 1.0199 Euro 1.7533 1.7540 1.4137 1.4138 NZ dollar 0.9951 0.9967 0.8024 0.8034 Sterling pound 2.0019 2.0031 1.6142 1.6146
      154 words
    • 82 25 Jun 15 COCOA (£/tonne) Close Prev High/Low Jul 11 1837 1849 1866/1834 Sep 11 1845 1846 1862/1840 Dec 11 1872 1871 1888/1868 Mar 12 1894 unch 1910/1891 COFFEE (US$/tonne) Close Prev High/Low Jul 11 2387 2347 2415/2340 Sep 11 2432 2391 2460/2384 Nov 11 2461 2419 2487/2418 Jan 12
      82 words

  • 5348 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
    5,348 words
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  • Page 27 Advertisements
    • 60 27 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES SHIPPING TIMES Importers looking for Warehouse Can they find your services here in the Shipping Times? FREIGHT FORWARDER urgently needed by shippers TO ADVERTISE, CALL JOE WONG AT 9620 Can they find your services
      60 words
    • 3 27 TO ADVERTISE IN
      3 words

  • executive lifestyle
    • Article, Illustration
      1433 28  -  When box-office grosses for a film outside of North America can ramp up takings by as much as 70 per cent in hungry Asian markets, film-makers are not losing the plot when it comes to jumping on the 3D gravy train, reports DYLAN TAN reports DYLAN TAN
      PHOTO-ILLUSTRATION: LUDWIG ILIO  -  1,433 words
    • CINEMA
      • 658 29  -  The Green Lantern has a good back story and sports better bling then DC Comics’ other caped crusaders, but will he deliver at the box office, asks GEOFFREY EU GEOFFREY EU GIVEN its status as a relatively small cog in the big scheme of things, Planet
        PHOTO: WARNER BROS  -  658 words
      • 583 29  -  By GEOFFREY EU THERE’S nothing too wrong when a man dares to profess his love and undying devotion to a guest he has just met at a wedding party unless of course it happens to be at his own wedding. That unlikely scenario
        583 words
      • 489 29  -  By DYLAN TAN LOOSELY based on Richard and Florence Atwater’s 1938 children’s book of the same name, this big-screen adaptation of Mr Popper’s Penguins is your average family-safe Hollywood fare made to cash in on the cine-ma-going frenzy of summer. There’s an ageing comedian in Jim
        489 words
    • MUSIC/ENTERTAINMENT
      • 479 30  -  DVD REVIEW By TAN TECK HENG THERE are not many horror films which embrace the controversial topic of exorcism, which could be attributed to fears of inciting a religious backlash, or of being compared to the indomitable 1973 classic, The Exorcist. It is
        479 words
      • 366 30  -  GAMING REVIEW By CHRISTOPHER LIM HELMING a slew of superhero movie tie-in games to come in the next few months is Thor: God of Thunder, and it makes the wise decision of departing from the film’s plot to concentrate on a comics-derived story. Instead of
        366 words
      • 780 30  -  The magic of Andrew Lloyd Webber is revisited in 12 of his most iconic works, writes CHEAH UI-HOON writes CHEAH UI-HOON CALL it the Glee effect, but the musical TV series along with reality shows like American Idol and Britain’s/America’s Got Talent has renewed the
        780 words
      • 1038 30  -  Antonio Vivaldi: Concerti per archi e continuo I Musici Fone Rating: A- By CHRISTOPHER LIM EVEN the oldest members of 12-member classical chamber ensemble I Musici can’t remember their first performance here two decades ago, but some people still confuse the group with the original dozen who
        PHOTOS: I MUSICI  -  1,038 words
    • FESTIVALS AROUND THE WORLD
      • 1151 31  -  The Rainforest World Music Festival attracts thousands of visitors every year, drawn by its eclectic mix of music genres and its fabulous natural setting. By ELAINE THIAN The writer, who is from Kuching, Sarawak, has just completed her post-graduate studies at NUS Brought to you
        Brought to you by Ascott; PHOTOS COURTESY OF SARAWAK TOURISM BOARD  -  1,151 words
    • ARTS
      • 536 32  -  By NATALIE KOH ATTENDING stand-up comedies usually means a profanity-filled hour, with plenty of discriminatory slurs at race, religion, sexual orientation, culture and, well, everything under the sun and above it. These jokes are usually rude, insensitive, disparaging but let’s face it, they’re utterly hilarious. It’s hard
        WILZWORKZ  -  536 words
      • 639 32  -  Movie vignettes inspire artists’ new works, reports TAN TECK HENG reports TAN TECK HENG FILM and visual art join forces as a group of young artists take part in art gallery Vue Privee’s latest exhibition, Moving Still. The collaboration will see the artists reinterpreting a
        PHOTOS: VUE PRIVEE  -  639 words
      • AROUNDTOWN
        • 171 32 IT’S not every day that you have 15 artists, each an expert in his field, come together in a single exhibition with an offering of art in a multitude of forms, ranging from photography, fashion, styling, design all the way to music. This weekend, however, multi-faceted art
          171 words
        • 146 32 The world is full of uncertainties. Even if one were to be certain of something, the world moves so quickly that you find yourself lost again soon enough. Age of Uncertainty, an ongoing exhibition at Chan Hampe Galleries, explores this constant evolution of the world with
          146 words
        • 113 32 With an increase in popularity of art forms such as video and installations, it seems like paintings are being increasingly left behind which leads to Squares In- vasion Painting Competition, a competition set up by art gallery, INSTINC Space. Concerned about the possibility of paintings being slowly
          113 words
        • 151 32  -  Compiled by NATALIE KOH A cursory glance at Chinese artist, Xiao Hong’s works might lead you to think they’re just portraits with bits of colours injected into them. But a deeper look would show some historical scenes and snippets of reality integrated into the portraits.
          151 words
      • 588 32  -  By NATALIE KOH THREE dances, three choreographers all individual in style but yet united in skill and showmanship gave credence to the Singapore Dance Theatre’s latest production that was ambitiously titled Masterpiece in Motion. Part of the SDT’s annual series, last Friday’s performance at the Esplanade
        SINGAPORE DANCE THEATRE  -  588 words
    • PURSUITS
      • 900 33  -  Beerfest Asia 2011 is gearing up to be a premier beer trade show here, reports CHRISTOPHER LIM reports CHRISTOPHER LIM LOCAL brewers made a big splash at Beerfest Asia 2011, sweeping awards and showing off the diversity of the beer scene here. The festival also demonstrated
        900 words
      • 563 33  -  BOOK REVIEW By KENNETH JAMES SO here’s the deal. Suicidal University Professor is about to jump off the top of a building. Unkempt Homeless Guy wrangles his way past the police, sits next to SUP and starts munching a sandwich. UHG suddenly stands up and recites
        563 words
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    • 81 29 A ?mv ■Mi d SB 1 v o V 4/s £5T s\m >h -:< m s' LVsi m i w ll\' V1 A jX .4 1 I I r Lv W H a r v* "THE MAIN EVENT IN THE WORLD OF THE ARTS" SPH THE STRAITS TIMES LIFE! SINGAPORE
      81 words
  • Page 29 Miscellaneous
    • 320 29 CRYPTIC CROSSWORD Across 1 One who’s given up religion, a humourless condition (8) 9 Instruction to turn over state compound possibly harmful (8) 10 Football bosses hold the French jumper (4) 11 Landworker’s allotment failure (12) 13 Fleece essayist’s relatives (8) 15 Step back after one cold Arctic feature (6)
      320 words


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    • 129 31 SOMERSET PALACE SEOUL BALANCED LIVING IN SOUTH KOREA Located in the heart of the city, Somerset Palace Seoul offers a tranquil environment with beautiful garden and city views. Within close proximity to the diplomatic, business and financial districts, and minutes from the Anguk, Jonggak and Kwanghwamun subway stations, Somerset Palace
      129 words


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    • 79 33 Credit Suisse: Innovation In Art Series ART HIST 1 965a n Y a 0 A Selection from the Centr u and Singap ore Art Museum Col Credit Suisse: Innovation In Art Series singaporeartmuseum AS LONG-TERM SPONSOR OF THE SINGAPORE ART MUSEUM, CREDIT SUISSE IS PROUD TO PRESENT THE LATEST EXHIBITION:
      79 words

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    • 31 34 3 t V/" i w 1 B v s E 1 A single journey can change the course of a life. Cambodia, May 2011. Follow Angelina Jolie on louisvuittoniourneys.com LOUIS VUITTON
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