The Business Times, 4 July 2011

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Total Pages: 32
1 32 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 Monday, July 4,2011
    23 words
  • 747 1  -  First female premier on the way as Prime Minister Abhisit Vejjajiva concedes defeat By LEE U-WEN in Bangkok THAILAND looks set to have its first-ever female prime minister after the top opposition party Puea Thai led by Yingluck Shinawatra captured the
    AFP  -  747 words
  • 157 1 BT ONLINE BT print subscribers get free access to BT Online at www.businesstimes.com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838. MARKETS Weekly Change ST INDEX 3,139.01 +72.16 KL COMP 1,582.94 +18.28 NIKKEI 225 9,868.07 +189.36 HANG SENG 22,398.10 +226.15 SET INDEX 1,041.48 +18.54 JAKARTA COMP 3,927.10 +78.54
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  • 840 1  -  COMMENTARY By VEN SREENIVASAN THE suspension of Tiger Airways’ Australian operations over safety lapses comes as a huge blow for an airline with big panAsian ambitions. But it could also be a reflection of a seemingly failed strategy. Right from Day One, some seven
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  • Page 1 Advertisements
    • 180 1 YOUNG INVESTORS’ FORUM Structured products the basics PAGE 11 DINING OUT Mak Kwai Pui at Resorts World Sentosa PAGE 21 VIEWS FROM THE TOP Going with the tech flow PAGES 8 '*****1 *****4 IWC Portuguese. Engineered for navigators. Portuguese Yacht Club Chronograph. Ref. 3902: "Please make a U-turn if possible."
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    • 11 1 BizIT Virtualisation seen as first step to cloud migration PAGE 27
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  • TOP STORIES
    • 528 2 Big win for Puea Thai party in Thai polls YINGLUCK Shinawatra is set to be Thailand’s first female prime minister after her Puea Thai party swept the majority of the 500 seats at stake in the country’s hotly-contested general election. With 97 per cent of the votes tallied
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    • 738 2  -  Convenience main reason, say issuers, as growth is driven more by debit cards By NISHA RAMCHANDANI [SINGAPORE] More Singaporeans are opting to use payments cards such as credit and debit cards in place of cash. In addition, the amount spent as
      FILE PHOTO  -  738 words
    • 651 2  -  Expert panel floats idea of producing talent and research By LYNN KAN [SINGAPORE] Consumer insights the area of market surveys and mining intelligence about product and services development isn’t yet a well-developed field in Asia, let alone Singapore. But
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    • 989 3  -  Wall Street looking for stocks to pause as investors look for confirmation WALL STREET INSIGHT By STEPHEN RAPHAEL in New York HOW do you turn around market sentiment in a sell-off featuring the worst five-day losing streak in a year? By answering it with the
      AP  -  989 words
    • 474 3 Details of second aid package to be fixed by mid-September AFP Reuters [BRUSSELS] Eurozone finance ministers agreed on Saturday to disburse a further 12 billion euros (S$21.4 billion) to Greece and said that the details of a second aid package for Athens
      AFP; Reuters  -  474 words
  • Page 2 Advertisements
    • 245 2 Get inside analytics With Deloitte and Davenport The Deloitte Analytics Institute proudly presents a public seminar and luncheon focused on harnessing the power in your organisation’s data. The global analytics expert, author, and executive business advisor, Tom Davenport, will be sharing new and advanced analytics practices and how they’re benefiting
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  • Page 3 Advertisements
    • 164 3 mijsmm A business saloon does not have to be all business The new CLS. Sense made Sensual. ?.yZ? fPjBg; Vv i ISplKtK BSH&i '.v :&i sMtfffa HQ, CLS &W4£$0& 1 -v-: i?-0 il Running your eyes over the sleek exterior of the new CLS ignites a passion that stirs your
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  • COMPANY NEWS
    • 1239 4  -  Minority shareholders upset that companies seem to get away without making one NEWS ANALYSIS By FELDA CHAY MINORITY shareholders of companies asked by the Singapore Exchange (SGX) to delist often find themselves in a bind, when the company and its
      1,239 words
    • 332 4  -  By MICHELLE TAN KEPPEL FELS has secured its third jackup order from Asia Offshore Drilling (AOD) valued at US$184 million. Explaining why Keppel FELS was picked, AOD chairman ML Chandchutha Chandratat said: “We continue to see bifurcation in the jackup market. Oil
      FILE PHOTO  -  332 words
    • 748 9  -  HOCK LOCK SIEW By MICHELLE QUAH THE Corporate Governance Council’s (CGC) proposed revamp of the Code of Corporate Governance will see greater responsibility for the risk management and financial statements of a company being placed on its board. But the Code is
      748 words
    • 778 9  -  CORPORATE FOCUS By MINDY TAN FOLLOWING the building of a new shipyard that became operational last December, mainboard-listed JES International Holdings, a major PRC shipbuilder, now boasts the widest dry dock in the world, and one of the most modern and advanced workshops
      YOONG CHOON HWA/LIANHE ZAOBAO  -  778 words
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    • 49 4 Jim# w s/r/w*B |VEW f\ v\ N I Ti />"W. X 'J Experience service on a whole new scale Korean Air provides quality service that surpasses even your highest expectations. Indulge yourself in the Korean Air experience for life on a whole new scale. Excellence in Flight KSREAIV AIR
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  • Page 5 Advertisements
    • 320 5 SINGAPORE HUMAN CAPITAL SUMMIT Summit Highlights Insights on Asia from a Global Perspective Latest Pan-Asian Research Thought and Practice Leadership In-Depth Knowledge Sharing Translating Knowledge into Practice Unparalleled Networking Opportunities Asian Human Capital Award People Strategies for Asia Capitalising on Asia's Growth Engines Resorts World Sentosa, Singapore 28-29 September 2011
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  • SINGAPORE MARKETS
    • 441 6 CURRENCIES Reuters [NEW YORK] It was a banner week for the euro as Greece evaded a near-term default and investors embraced risk, but don’t expect a repeat performance given investors’ belief that the country’s debt crisis is far from over and concerns about the
      Reuters  -  441 words
    • 536 6  -  COMMODITIES By V HARIHARAN The writer is a member, board of directors, and CEO, Singapore Mercantile Exchange BLACK pepper from Dak Lak province in Vietnam, the world’s largest producer and exporter of black pepper, cost some US$3,890 per metric tonne (pmt) in early
      536 words
    • 1557 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price Allgreen Properties 2.91 2.18 11 15.36 10.42 1.45 1.60 Amtek Engg 2.00 2.00 4 11.82 8.29 1.45 0.98 ARA Asset Mgt 2.00 2.00 4 8.83 17.66 1.89
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    • 4 6 WEEKLY
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    • 66 6 Jul 1 VALUE CLOSE BT OB/OS 646.00 +241.0 BT CADI -*****.00 +46.00 BT 10-day MA -*****.00 +65.00 FTSE ST Mid Cap 746.18 +4.00 FTSE ST Small Cap 520.50 -0.86 FTSE ST All Share 766.15 +4.11 FTSE ST China Top 253.97 +1.94 FTSE ST China 291.84 +2.01 FTSE
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    • 58 6 VOLUME PSL Hldgs 320,533,000 Golden Agri 279,338,000 Genting SP 245,089,000 SingTel 178,169,000 Progen 147,926,000 Artivision 138,454,000 EastgateTech 136,498,000 HPH Trust US$ 127,848,000 Yangzijiang 107,346,000 Noble Grp 81,711,000 VALUE($) SingTel 552,662,783 UOB 481,007,383 Genting SP 470,907,010 DBS Grp 356,152,314 OCBC Bk 268,602,700 Keppel Corp 266,841,903 Golden Agri 190,232,236
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    • 605 6  -  STOCKS R SIVANITHY Senior Correspondent AS ALWAYS, the contents of US economic reports will determine how Wall Street performs in this hol-iday-shortened week. This in turn will set the direction for the local market, or to be more specific, the Straits Times Index
      605 words
    • 111 6 BY CENTS CLOSE UP DBXT iBoxxUSTr 5US$ ***** 688.8 3.0 DBXT Nifty 10US$ ***** 505.0 3.3 Jardine C&C 4398 372.0 9.2 JSH 3166 230.4 6.3 DBXT MSKorea 10US$ 6388 219.4 2.9 JMH 5602 198.6 3.0 DBXT MSEurope 10US$ 4871 187.5 3.2 DBXT FTChina25 10US$ 3174 141.0 3.8 DBXT MSAsExJp
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    • 122 6 BY CENTS CLOSE DOWN GLD 10US$ *****-357.9 -2.0 DBXT S&P Short 10US$ 4211-148.3 -2.8 IS S&P500 *****-148.3 -0.9 DBXT DBCBDJUBS 10US$ 3706-134.8 -2.9 DBXT FTVietnam 10US$ 2867-114.0 -3.1 DBXT STGLDv100 10US$ 2910-103.0 -2.8 DBXT SPASX200 10US$ 3412 -90.7 -2.1 Asia Pac Brew 2900 -90.0 -3.0 DBXT DBLCI-OY 5US$ 4076
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    • 5 6 WEEKLY
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    • 151 8 sentiment VALUE JULY 1 BID PRICE WEEK-ON-WEEK CHANGE Longcheer 0.160 14.3 3,040 World Precision 0.565 14.1 10,735 China XLX 0.385 11.6 6,545 Kingboard Copper Foil 0.340 9.7 8,500 China Energy 0.105 5.0 4,725 Macquarie Int'l Infrastr 0.575 4.5 8,050 Sunvic Chemical 0.725 2.8 21,750 Pan-United
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    • 408 8  -  TEH HOOI LING Senior Correspondent AFTER three months of choppy trading, the markets steadied and firmed in the last two weeks. Last week, the Straits Times Index climbed 2.4 per cent. This compared with the 2.1 per cent average increase for our six portfolios. This is
      408 words
    • 170 8 JULY 1 BID PRICE VALUE WEEK-ON-WEEK CHANGE Longcheer 0.160 14.3 3,040 K1 Ventures 0.140 7.7 3,360 Datapulse 0.220 7.3 7,040 CWT 1.330 7.3 15,960 FJ Benjamin 0.365 5.8 9,125 Poh Tiong Choon Logistic 0.410 5.1 11,890 Elec Eltek Int'l 4.670 4.9 14,010 Nera Telecoms 0.375 4.2 8,250
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    • 170 8 JULY 1 BID PRICE VALUE WEEK-ON-WEEK CHANGE China Kangda Food 0.095 11.8 2,470 Cacola Furniture 0.050 11.1 2,600 China Sky Chemical 0.135 8.0 2,295 Armstrong Industrial 0.340 6.3 12,920 Best World 0.180 5.9 3,600 Mercator Lines 0.200 5.3 7,600 China Essence 0.305 5.2 6,405 Lippo-Mapletree Indonesia Retail
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    • 1713 8  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Limited THE buying slowed while the selling among directors rebounded sharply based on filings on the exchange from June 2 7 to July 1. A total of 13 companies recorded 30 purchases worth
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    • 145 8 JULY 1 BID PRICE VALUE WEEK-ON-WEEK CHANGE Annica 0.030 20.0 4,980 HanKore Env 0.035 16.7 3,500 MoyaDayen 0.065 8.3 8,125 Ausgroup 0.380 7.0 14,060 Sinostar 0.160 6.7 9,920 Sunshine 0.045 6.7 9,000 China Energy 0.105 5.0 4,305 Ellipsiz 0.110 4.8 11,000 Mirach Energy 0.110 4.8 11,000 C&G
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    • 159 8 JULY 1 BID PRICE VALUE WEEK-ON-WEEK CHANGE Longcheer 0.160 14.3 3,040 CSC Holdings 0.140 12.0 7,280 Kingboard Copper Foil 0.340 9.7 8,500 China Fishery 1.700 9.7 15,300 China Sky 0.135 8.0 2,295 CWT 1.330 7.3 18,620 China Sports 0.075 7.1 2,175 Mercator Lines 0.200 5.3 7,600 China
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    • 170 8 JULY 1 BID PRICE VALUE WEEK-ON-WEEK CHANGE Anwell Tech 0.375 13.6 6,225 China Flexible Packaging 0.085 13.3 2,465 United Fiber System 0.045 12.5 4,050 Kingboard Copper Foil 0.340 9.7 8,500 China Sky 0.135 8.0 2,295 Fuxing China 0.120 4.3 6,240 Sunningdale Tech 0.150 3.4 7,500 Guocoleisure 0.705
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    • 403 9 Jul 1 BANKS Agricultural Bank Of China 5.5 ANZ Banking Group 6 Arab Bank PLC 5.5 Banco Bilbao Vizcaya Argentaria, S.A. 6 Bangkok Bank 6 Bank Julius Baer Co. Ltd(S) 5 Bank of America NA 5 Bank of China Limited 5.5 Bank of Communications 5.5 Bank of
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    • 308 9 COMPANY MEETING PLACE DATE TIME RH Petrogas E 20 Harbour Drive, #06-03 PSA Vista, Singapore *****2 08-Jul 10.00am SMRT Corp A Marina Mandarin Ballroom, Level 1, Marina Mandarin Singapore, 6 Raffles Boulevard, Marina Square, Singapore *****4 08-Jul 2.30pm Rowsley Ltd A 87 Science Park Drive, Science Park 1,
      308 words
  • Page 6 Advertisements
    • 92 6 HPT Phillip Futures Bringing Global Markets Closer to You www.phillipfutures.com.sg 6538 0500 o8 Brought to you by Phillip Futures Pte Ltd (A member of PhillipCapital) i?t i ii i M 1 > Co. Reg. No: *****5695G The above information does not constitute an investment advice, an offer/solicitation to buy/sell the
      92 words

  • 1406 7  -  Integrated reporting aims to provide a framework for the comparable reporting of all aspects of business including environmental, social and governance factors and will be centred around the strategic and market context within which the business is operating and how this
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  • Page 7 Advertisements
    • 161 7 Hf ir ma± 4* v The future of corporate governance: from accounting to strategy Monday 11 July 9.00am 2.00pm Singapore Marriott Hotel A refreshed view of corporate governance poses fundamental challenges for companies. How should companies prepare themselves for this transformation? Register today to gain practical insights from a distinguished
      161 words


  • Page 9 Advertisements
    • 98 9 CRUDE OIL FOR SALE A certified Oil trader is offering Forcados/Bonny Life for sale Products are available on FOB and Tanker Takeover-Transfer. Minimum Order is 1 million Barrels Term and Spot deals available Competitive Pricing with heavy discounts (Below market rate) Hasslefree and Transparent process Also available is gasoline marketing
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    • 171 9 In SilkAir's Asia, great destinations come with great fares. ¥2 h\ /a rn Bs /A i I m All-in introductory return fare from Kolkata (India) All-in one-way fare from All-in return fare from Kolkata (India) All-in return fare from Medan, Phuket All-in return fare from Chiang Mai Siem Reap, Yangon
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  • SINGAPORE NEWS
    • 700 10  -  On short stints, they work with faculty here, act as ‘conduit to the outside world’ By LEE U-WEN SINGAPORE Management University’s (SMU) business school has started a scheme where it invites top researchers from renowned overseas institutions to spend a month or two
      FILE PHOTO  -  700 words
    • 82 10 SINGAPORE gets a boost to its water supply with the opening of two new reservoirs Punggol and Serangoon Reservoirs in the north-eastern part of the island. National water agency PUB yesterday marked the opening of Singapore’s 16th and 17th reservoirs in a ceremony officiated
      82 words
    • 225 10  -  By MICHELLE TAN THE former chief executive of SilkAir, Chin Yau Seng, joins Tiger Airways as its executive director with effect from today. Boasting a wealth of industry experience, Mr Chin comes to Tiger from national carrier Singapore Airlines (SIA), where he was divisional
      AFP  -  225 words
    • 317 10  -  Survey shows PMOs’ effectiveness in training often not properly measured By LYNN KAN ABOUT four in five companies worldwide have project management offices (PMOs) to help standardise and streamline how employees tackle projects. Yet, as many as three-quarters of such companies question their value to
      317 words
    • 544 10 Payment Ex Books Pay Ann (cts) date close date date Australand Prop^ as 10.500 28-Jun 30-Jun 04-Aug 21-Jun B Sembawang ak 4.000 29-Jul 02-Aug 12-Aug 24-May B Sembawang bh 8.000 29-Jul 02-Aug 12-Aug 24-May Boustead ak 2.000 03-Aug 05-Aug 19-Aug 27-May Boustead bh 3.000 03-Aug 05-Aug 19-Aug 27-May
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  • Page 10 Advertisements
    • 22 10 ti-ii-J JACKPOT TODAY Sales close at 6pm Draw at 6.30pm at PoMo For details, visit www.singaporepools.com.sg Towards Community Purpose and Benefit SINGAPORE
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    • 19 10 L Beef Up Your Finances Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your IPOs other offerings BEATS
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 1078 11  - Structured products the basics For those willing to do their homework, these ‘customer-centric products’ could in fact be a good option, reports TEH SHI NING reports TEH SHI NING FOR the investing newbie, structured products is a term still tainted by the memory of retail investors losing hundreds of millions
      ADAM LEE/ST ILLUSTRATION  -  1,078 words
    • 830 11  -  James Lieow tells MAXIE AW YEONG he considers investing a practical education STARTING YOUNG MAXIE AW YEONG YOUNGinvestorJames Lieow received more than just academic lessons from his tuition teacher during his schooldays. The 23-year-old undergraduate at Nanyang Technological University (NTU) got interested in investing after
      ARTHUR LEE  -  830 words
    • 407 11 ASK DR INVEST Q: I’m in my late 20s and I am just getting started on investing. What are the basics of investment for a newbie? I’m risk averse and would like to start slow with a small amount, like a few hundred
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  • Page 11 Advertisements
    • 331 11 Get started now ‘Spot the Index’ contest THINK you can forecast where the market’s headed? Then put your skills to the test and familiarise yourself with our local stock-market index, the Straits Times Index (STI), now. Simply spot the weekly closing index rate and stand to win an Apple iPod
      331 words

  • VIEWS FROM THE TOP
    • 3972 12 THIS WEEK’S TOPIC: Is investment in new technology paying off for businesses in your industry? Which tech products and/or services have you found most useful, or are currently considering, for your own organisation? Stephen Lim Chairman Singapore infocomm Technology Federation (SiTF) SENIOR executives need to
      STOCK.XCHNG  -  3,972 words

  • Page 13 Advertisements
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  • ECONOMY WATCH
    • 620 14 Its pact with S Korea takes effect; bloc eyes agreements with other markets Reuters [BRUSSELS] The European Union (EU) is outflanking rivals including the United States and China to seal bilateral trade deals with lucrative markets while talks for a global trade pact
      Reuters  -  620 words
    • 693 14 Global oil firms need to partner them for access to supplies AFP [LONDON] State-owned oil companies are a rising force in the global energy sector as private rivals such as BP and Total seek access to new supplies and push to expand their
      AFP  -  693 words
    • 376 14 Reuters [NEW YORK] Can’t live with them, can’t live without them. That’s what last week’s bond market slide says about investors’ view of US Treasuries. Fears of contagion from the eurozone debt crisis brought investors to Treasuries in the first place, reaffirming the
      Reuters  -  376 words
    • 430 14 IHT [ROME] Austerity measures passed by the Italian government to reduce the budget deficit and reassure international markets of Italy’s commitment to financial soundness have been greeted with scepticism by opposition lawmakers, and have not allayed the doubts
      IHT; AFP  -  430 words
  • Page 14 Advertisements
    • 343 14 Organised by: In partnership with: O \S»T Singapore Chinese Chamber of Commerce Industry Performance Motors Limited Distinguished! Speakers Lecture Series Dr Tony Tan Trends, Risks and Opportunities in the Global Economy Singapore Chinese Chamber of Commerce Industry is proud to present the fifth in our Distinguished Speakers Lecture Series. S.
      343 words

  • MALAYSIA/INDONESIA
    • 684 15 Indonesian capital ranks last in global survey of commuter satisfaction AFP [JAKARTA] Jakarta’s traffic chaos costs Indonesia billions of dollars a year in a depressing reminder of the gap between the country’s ambitions for growth and its daily realities, analysts said. The
      AFP; AFP FILE PHOTO  -  684 words
    • 1871 15 VOL Jul 1 RM +/-(‘000) A M Realty 0.47 unch 0 Abric Bhd 0.30 unch 1085 Advance Synerg 0.21 unch 480 Adventa Bhd 1.98 0.02 25 Ae Multi Hldgs 0.27 unch 30 Affin Holdings 3.37 0.04 422 Ahmad Zaki Res 0.81 -0.01 135 Aic Corp 1.35 unch 660
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    • 606 15  -  Besides huge earnings dilution, EPF members have nothing to look forward to in the deal MALAYSIA INSIGHT S JAYASANKARAN KL Correspondent LAST week, there were reports that RHB Capital was contemplating a takeover of CIMB, Malaysia’s second largest lender, after both CIMB
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  • Page 15 Advertisements
    • 130 15 The Oxford Advanced Management and Leadership Programme “The year after the programme, we recorded a profit for the first time in five years. I would say that at least 80% of this can be attributed to the programme. Besides knowledge, the programme gave me confidence and it provided me with
      130 words

  • GREATER CHINA/INDIA
    • 878 16 Go-West policy incentives lure big businesses to the city of 32m people AFP [CHONGQING] After just a few years of explosive growth, China’s mega-city of Chongqing has emerged as a major industrial hub, thanks in part to a “Go West” policy to open
      AFP  -  878 words
    • 269 16 AFP [NEW DELHI] British mobile phone giant Vodafone is taking full control of its Indian joint venture by buying out local partner Essar Group, the company said. Vodafone, which has sought to make India a crown jewel in its expanding emerging markets port- folio,
      AFP  -  269 words
    • 755 16 They are often considered 2nd-class citizens in cities AFP [BEIJING] Migrant worker Yue Yaowei has lived in Beijing for six years but is not recognised as a resident of the Chinese capital and so cannot get health insurance, buy a car or purchase
      AFP  -  755 words
    • 266 16 Bloomberg [BEIJING] China’s non-manufacturing industries expanded at the slowest pace in four months in June, adding to concerns that efforts to tame inflation are curbing growth in the world’s second-biggest economy. A purchasing managers’ index dropped to 57 from 61.9 in May, the
      Bloomberg  -  266 words
    • 170 16 AFP [NEW DELHI] India pledged on Saturday to cut the millions of pending court cases by 40 per cent in just six months, without explaining how it might achieve the ambitious aim. India has 25 million cases pending in various
      AFP  -  170 words
  • Page 16 Advertisements
    • 58 16 Heartbeat Of The Indian_ Community 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. t a a COMMUNITY he*K tbE *I PRIME TIME smppo"* MOpOT an iw w masa koM* -r,rnrssz cs For more
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    • 5 16 HDBhas suspended futureDBSS landsales Tosubscribe,call6388-3838orgotosphsubscription.com.sg
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  • WORLD
    • 678 17 Failure to pass new budget by deadline bodes ill for raising federal debt ceiling AP [ST PAUL, Minnesota] Most of Minnesota’s state government stood idle over the weekend, the result of the Democratic governor’s and the Republican-controlled legislature’s failure to pass a
      AP  -  678 words
    • 586 17 Bloomberg [SYDNEY] Australia’s proposed carbon tax will exempt petrol, Prime Minister Julia Gillard announced yesterday, as she seeks to make the plan more popular among voters. “Petrol prices will not be touched by carbon pricing,” Ms Gillard said in an interview with Australian
      Bloomberg; AFP  -  586 words
    • 622 18 Shoppers cut back purchases as rise in prices, low wage growth hit sector Reuters [LONDON] A string of retail failures in Britain could be the tip of the iceberg as shoppers cut back dramatically on non-essentials. Analysts say more will go to the
      Reuters; REUTERS  -  622 words
    • 794 18 Bloomberg [NEW YORK] Citigroup Inc chief executive officer Vikram Pandit, who took a US$1 salary after his bank received the most taxpayer assistance of any US lender, is poised to collect US$80 million from other payments and awards that may eventually total more than
      Bloomberg; AP  -  794 words
    • 520 18 Reuters [PARIS] While traditional advertising groups jostled for awards at a recent annual industry gathering in Cannes, the year’s biggest star was a newcomer to the beaches: the social network Facebook. The company has gone from nowhere a few years ago to become the biggest
      Reuters  -  520 words
    • 570 18 AFP [TITUSVILLE, Florida] The booming tourist area and haven for high-tech Nasa jobs known as the “Space Coast” is struggling with sadness, bitterness and fear for the future as the US shuttle programme draws to a close. Three decades of human spaceflight driven
      AFP  -  570 words
    • 558 19 Eurogroup chairman Juncker suggests solution based on ‘Treuhand agency’ Reuters [BERLIN] Greece faces severe restrictions on its sovereignty and must privatise state assets on a scale similar to the sell-off of East German firms in the 1990s after communism fell, said
      Reuters; REUTERS  -  558 words
    • 543 19 AP [VATICAN CITY] The Vatican returned to profit last year after three years in the red but donations from the faithful fell nearly US$15 million, or 18 per cent, amid tough economic times and the explosion of the priest sex abuse scandal. The
      AP; REUTERS  -  543 words
    • 340 19 AFP [TAIPEI] A city in Taiwan declared yesterday “Lady Gaga Day” as the pop diva’s first visit to the island sparked a frenzy among dedicated fans and local media. Lady Gaga, sporting a black-and-white wig, red trousers and a red dress with leop-ard-print sleeves,
      AFP  -  340 words
    • 502 19 Strong Swiss franc a risk and job cuts likely, says chairman Reuters [ZURICH] Switzerland’s UBS is still facing difficult market conditions after a tough second quarter and is reviewing its mid-term goals, the bank’s chairman Kaspar Villiger was quoted as saying yesterday. Mr
      Reuters  -  502 words
    • 308 19 AFP [LONDON] Germany’s second largest power company, RWE, may sell Npower, one of Britain’s biggest electricity suppliers, in a deal worth £5 billion (S$9.86 billion), a report said yesterday. RWE was considering the sale because it has large debts, needs to invest billions in a new
      AFP  -  308 words
    • 294 19 AFP [LONDON] Around 40,000 British families could be made homeless by welfare cuts introduced by the coalition government, the office of a senior minister has reportedly warned Prime Minister David Cameron. A leaked letter published in The Observer newspaper yesterday voices concerns over
      AFP  -  294 words
    • 11 19 db X-MACRO Trading Index Fund I4D 22/06/11 97,34 GBP
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  • Page 17 Advertisements
    • 3406 17 SPICE i2i LIMITED (Company Registration No. *****4568R) (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Spice i2i Limited (the “Company”) will be held at NTUC Centre, 1 Marina Boulevard, NTUC Auditorium Level 7, Singapore *****9 on Tuesday,
      3,406 words

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  • Page 19 Advertisements
    • 221 19 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 PNSC SUPPLY CHAIN INTERNATIONAL PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) (Company Registration No. *****0247W) (Incorporated in the Republic of Singapore) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 (1) of the Companies Act, Cap. 50 that the
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  • AVIATION/SHIPPING
    • 500 20 Carrier’s suspension due to ‘serious and imminent risk to air safety’: regulator AFP [SYDNEY] Aviation regulators were discussing yesterday whether to seek court approval to extend the grounding of budget carrier Tiger Airways Australia, having revoked its permission to fly over safety fears. Australia’s
      AFP  -  500 words
    • 560 20 Reuters [LONDON] The Baltic Exchange’s main sea freight index, which tracks rates to ship dry commodities, turned positive on Friday, with the market watching Russian grains exports after a ban was lifted. The overall index rose 0.64 per cent or nine points to
      Reuters  -  560 words
    • 278 20 SGX '000 Jul 1 S$ +/-Vol CH Offshore 0.44 0.01 12 Chuan Hup Hldg 0.25 -0.01 1154 Cosco Corp 1.94 -0.01 4637 CWT Ltd 1.33 -0.01 6798 Ezra Hldgs 1.49 unch 1708 First Ship Lea 0.35 unch 1924 Freight Links 0.06 -0.01 842 Grand Banks unch unch 0
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    • 714 20 US stockpile release stirs market but no bookings made yet Reuters [LONDON] Enquiry to store crude oil on tankers at sea in the US Gulf is rising, although actual bookings have yet to be finalised, shipping and trade sources said on Friday. While speculation
      Reuters  -  714 words
    • 3302 20 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi SQ455 1300 SQ456 1245 Adelaide LH9771 1745 LH9770 2350 SQ278 1745 SQ279 2350 VS7278 1745 VS7279 2350 Amsterdam LO4031 0545 LO4032 2355 SQ323 0545 SQ324 2355 US5410 0545 US5411 2355 AZ3992 1525 KL835 1525 Athens SQ398 0105 Atlanta DL281
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  • Page 20 Miscellaneous
    • 301 20 CRYPTIC CROSSWORD Across 1 Work hard to get an advertising phrase that’s memorable (6) 4 At Naples? That might be enjoyable (8) 9 Fighting lawsuit (6) 10 Huge area required for a climbing plant (8) 11 Sight provided by glasses, limited (9) 13 Steps taken by one graduate skipping dessert
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  • DINING OUT
    • 730 21  -  GUEST CHEF By Audrey Phoon Mak Kwai Pui Feng Shui Inn Basement 1-M Crockfords Tower Resorts World Sentosa 8 Sentosa Gateway Tel: 6577 8899 TIM Ho Wan in Hong Kong’s Mongkok area is well known for its Michelin star, delicious dim sum and queues which continually snake
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    • 268 21  -  PROMOTION By Jaime Ee Carousel Royal Plaza on Scotts 25 Scotts Road Tel: 6589 7799 Until July 10 IT’S hard to tell amid the decadent spread that is the Carousel buffet, but if you dig a little harder, you’ll find a good selection of “holistic” Indian
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  • Page 21 Advertisements
    • 239 21 Wine, Dine O II iV ill. e Hospitality I 1 V'... v.". V. 7 —iS r 'L Ma wtamm i n m u CUDHC WONDERS OF TEA szecrjufrn COURT From 4 to 24 July, reap the health benefits of tea at Szechuan Court with our innovative and mouth-watering tea-infused dishes
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  • SINGAPORE STOCKS
    • 8781 22 Week ended: Jul 1 52-wks Last Vol Week Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 15 8Telecom 16 +0.5 540 16 15 16 16.5 7.8 3.8 3.4 76.6 12 4.5 A-Sonic 7 -0.5 1903 8
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    • 1673 23 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 5.5 4 t AA Grp 4 unch 90 4 4 4 4.5 19 3.9 202 142 t APStrategic 149 -10 9 159 149 150
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    • 115 23 Stock name Close Change Stock name Close Change Stock name Close Change CapMallsAsia 1.470 CapitaLand 2.910 CapitaMall 1.880 +0.010 CityDev 10.440 +0.040 ComfortDelGro 1.470 +0.010 DBS Grp 14.800 +0.140 F&N 5.850 +0.060 GLP 2.070 +0.010 Genting SP 1.920 -0.010 Golden Agri 0.680 HK Land 7.200 +0.080
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    • 2612 23 Transaction date: Jul 1 HONG KONG Vol HK$ +/-'000 Aeon Credit 6.28 0.18 10 Aeon Stores 16.80 -0.08 20 Angang Steel 8.52 0.45 ***** Anhui Conch 36.40 -0.20 ***** Anhuiexpresswa 6.50 0.35 3040 Asia Satellite 18.00 0.50 1 Asm Pacific 106.60 1.90 468 Bank Of E Asia 31.95
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    • 258 23 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 34 AVJennings A44.5 -1.5 4 46 44.5 44.5 47 3.6 7.9 3.6 115.9 55 18 Genting HK US$ US36.5 unch ***** 37.5 35.5 36.5 37 2403.3
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    • 186 23 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 12 4 2 0 0 0 12 4 2 Manufacturing 98 47 67 13 7 17 111 54 84 Commerce 45 18 16 9 1 4 54 19 20 Tpt/Stor/Comms 30 8 9
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    • 969 23 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124 108 ABF SG Bond ETF 114.5 -2.5 15 114.5 114 113.1 115 522.7 1077 843 CIMBAsean40 100US$ US1070 +37 62 1070 1035 1069 1070 42.8
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    • 121 23 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 165,331 165,331 431,631 431,631 Manufacturing 1,107,426 93,612 1,201,038 899,576 3,360 902,936 Commerce 343,185 67,492 410,677 499,079 8,986 508,065 Tpt/Stor/Comms 715,636 76,239 791,875 1,300,777 8,855 1,309,632 Finance 114,389 114,389 1,222,485 1,222,485 Construction 446,979 181,181 628,160 162,054
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  • Page 23 Advertisements
    • 26 23 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES
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  • FINANCE & COMMODITIES
    • 374 24 In local curr In S$ In US$ dy yr dy yr dy yr Jul 1 Index Change Change Change Change Change Change World Index Preliminary 918.9 0.7 2.4 0.7 0.4 0.7 4.7 EAFE Preliminary 792.0 0.6 -1.1 0.5 -0.8 0.5 3.5 Europe Preliminary 1179.7 0.8
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    • 77 24 CRUDE OIL PRODUCTS Jun 30 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 112.39 0.43 WTI (Near Mth) 95.08 0.28 Dubai (1-Mth F) 105.82 1.52 Tapis blend 116.50 2.23 Minas 113.00 2.23 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 99.83 1.61 Jet Kerosene 124.95 2.45 US$/barrel Opec Oil
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    • 153 24 Jul 1 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Aug 11 458.5 458.5 458.5 4 184 Sep 11 457.5 455.0 457.5 25 390 Oct 11 392 Nov 11 338 Dec 11 415 Jan 12 187 Feb 12 457.6
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    • 107 24 Jul 1 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 11 1322.25 1306.25 1330.00 1307.25 Aug 11 1312.75 1299.50 1321.75 1299.50 Sep 11 1309.50 1295.25 1318.75 1295.00 Nov 11 1312.50 1294.00 1321.75 1293.00 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 11 55.16
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    • 79 24 Jul 1 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****A 29.09.2011 0.32 1-Year BY*****X 02.05.2012 0.41 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 103.63 5-Year N*****0W 1.125 01.04.2016 100.62 100.8 100.65 10-Year NX*****X
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    • 454 24 Jul 1 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Sep11 99.6600 0 5624 Dec11 99.5800 0 4243 Mar12 99.5100 0 1578 Jun12 99.3750 0 1431 EUROYEN TIBOR FUTURES Sep11 99.6650 99.6650 99.6650 99.6650 0 1235 Dec11 99.6625 0 1392 Mar12 99.6550 0 1823 Jun12 99.6475 0
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    • 53 24 As on 1 July 2011 www.smx.com.sg For membership please contact: Ivan Han, DID +65 9098 8455 membership@smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE PREV CLOSE PRECIOUS METALS Gold Cash Aug-11 1500.3 1487.6 1482.8 1502.9 CURRENCY Euro-US Dollar Sep-11 1.4514 1.4413 1.446 1.4353 BASE METALS Copper Cash Sep-11 9472
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    • 121 24 As at 9am Jul 1 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.357 1.281 Can dollar 1.298 1.249 Euro 1.812 1.743 Sterling pound 2.006 1.929 NZ dollar 1.042 0.993 US dollar 1.245 1.198 Local dollars to 100 units of foreign
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    • 27 24 Jul 1 Open High Sett STI Jul 3138 SIMSCI Jul 360.3 363.7 363.0 Taiwan Jul 296.3 301.2 299.1 Source: MF Global (S) Pte Ltd
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    • 2629 24 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 25.5 2 5 1 150 18 5.84 34 ASJ Hldgs W*****1 1.5 1 4 38 2.67 7 AlliedTech W*****2 1.5 unch 114 1 4 28 Asia Water Tech
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    • 183 24 Jul 1 $S Offer Bid 0vernight 0.01 Par 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.01 US$ Offer Bid 7 days 0.25 0.15 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
      183 words
    • 462 24 Jul 1 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.032 6.928 0.738 8.337 47.800 91.599 0.865 11.424 3.224 1.296 92.172 46.247 1.313 7.259 0.907 30.820 32.965 0.667 1.071 Canada 0.969 6.714
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    • 85 24 Jul 1 (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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths
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    • 137 24 Jul 1 GOLD (US$/oz) Jun 30 Jul 01 Hong Kong 1512.00 closed Jun 30 Jul 01 London 1510.39 1484.66 1511.17 1485.43 Source: Thomson Reuters CAST BAR Jul 01 (S$) Selling Buying Kilobar 63,704.59 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 143 59 5gm 405 297 10gm 724
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    • 70 24 Jul 1 1 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2473.25 2503.25 3 months 2503.00 2532.00 Copper, Grade A (US$/tonne) Cash 9429.25 9414.00 3 months 9445.00 9430.00 Lead (US$/tonne) Cash 2661.50 2671.00 3 months 2674.00 2684.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash
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    • 154 24 Jul 1 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3126 1.3143 1.0709 1.0714 Canadian dollar 1.2721 1.2734 1.0379 1.0381 Euro 1.7785 1.7801 1.4510 1.4511 NZ dollar 1.0127 1.0137 0.8262 0.8264 Sterling pound 1.9692 1.9709 1.6066 1.6067
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    • 22 24 Jul 1 S$ Bid Offer 1-month 1.2257 1.2267 2-months 1.2256 1.2267 3-months 1.2255 1.2266 6-months 1.2250 1.2260 Source: OCBC
      22 words
    • 67 24 Jul 1 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 11 3075 3070 3093 3070 586 2377 Aug 11 3054 3052 3073 3048 3859 ***** Sep 11 3040 3035 3065 3031 ***** ***** Oct 11 3035 3034
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    • 82 24 Jul 1 COCOA (£/tonne) Close Prev High/Low Jul 11 1963 1954 1964/1939 Sep 11 1992 1986 1992/1967 Dec 11 2020 2009 2020/1994 Mar 12 2034 2021 2033/2004 COFFEE (US$/tonne) Close Pev High/Low Jul 11 2427 2453 2454/2422 Sep 11 2472 2498 2508/2452 Nov 11 2497 2525 2534/2480 Jan 12
      82 words

  • 5495 25 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 JIMRISE Muscat/Sharjah/Doha/Dammam *Loads
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  • Page 25 Advertisements


  • BizIT THE BUSINESS OF INFOCOMM TECHNOLOGY
    • 842 27  -  Symantec survey shows that Singapore companies are looking to the cloud even though there are misgivings, writes AMIT ROY CHOUDHURY writes AMIT ROY CHOUDHURY AS SINGAPORE companies seek to move to the cloud, virtualisation has become widespread, according to a study done
      842 words
    • 278 27 Bloomberg [WILMINGTON, Delaware] Microsoft Corp and Google Inc were accused of violating a Louisiana company’s patent covering mapping technology that helps computer users see locations in three dimensions. Officials of Transcenic Inc contend in a lawsuit that executives of Google and Microsoft misappropriated
      Bloomberg  -  278 words
    • 481 27  -  Iomega’s NAS aimed at consumers, small medium business By VICTORIA HO WITHIN the current cloud computing buzz, one could say that the ruckus around “private clouds” is one of the loudest among enterprises. Especially in some of Asia’s fast-moving tech-sav-vy markets, companies are choosing
      481 words
    • 1002 28  -  Replicating ‘wow’ experience of US retail pays off for 3-store chain owner By VICTORIA HO IT’S hard to imagine that Motherswork founder and managing director Sharon Wong is running a 13-year-old business. Sitting in the new cafe at her 5,000 square foot Great
      1,002 words
    • 799 28  -  Technology can bring order and sustainability to the massive urbanisation that is taking place all over the world <you say> By GIRIJA PANDE The author is chairman, Tata Consultancy Services Asia-Pacific LAST June at the Shanghai Expo, I stood riveted by a massive
      799 words
    • 365 28  -  By AMIT ROY CHOUDHURY NEC Asia Pacific, a wholly owned subsidiary of NEC Corporation, has established its Asia Pacific Display Solutions Competency Centre (APAC DSCC) in Singapore. Speaking to BizIT, NEC’s Vincent Koh noted that, through a common regional strategy, the DSCC which
      365 words
    • 136 28 Bloomberg [SAN FRANCISCO] Google Inc, the world’s biggest In-ternet-search company, hired 12 lobbying firms after the US Federal Trade Commission (FTC) began a review of its business practices. The company has enlisted Akin Gump, Bingham, Capitol Legislative Strategies, Chesapeake Group, Crossroad Strategies,
      Bloomberg  -  136 words
  • Page 27 Advertisements
    • 1009 27 MATS P Toll free: 1800-289-8822 Email: notices@sph.com.sg NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF J.P. MORGAN COMMODITIES SINGAPORE PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) COMPANY REGISTRATION NO. *****1347E Extract of the Minutes of an Extraordinary General Meeting of J.P. MORGAN COMMODITIES SINGAPORE
      1,009 words
    • 307 27 <you say> Welcome to the era of the iCity PAGE 28 THE SME MAGAZINE PRESENTS The Economy Your Business What headwinds ahead do companies face? Get a better picture of how the next 12 to 18 months will pan out. Hear from two of Singapore’s top economists as they share
      307 words

  • Page 28 Advertisements
    • 32 28 2010EDITION A collection from The Business Times The diverseexperiences ofsome of the mostinfluential thinkers,corporate chiefs andsocial activists of the age 52 interviews by The Business Times journalists Available at all leading bookstores
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  • Page 31 Advertisements
    • 94 31 Cinnect with a well connected bank. ANZ is in 28 markets across Asia Pacific and we're growing. That means we've now got more financial specialists who share your regional interests and who take the time to fully understand your needs. They have the experience and the network to put you
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  • Page 32 Advertisements
    • 88 32 Singapore q,. VAong Kong, Taiwan, Amer/ Can Cambodia, Cook Islands, Fiji g QS WVateys*. New Caledonia, m on> sland5 Thaila m rtestar <»Jo fc meItom Samoa Au »lrafe SjSs, W»>»V^' tewCa edon ».'te W^'"V2 <! <vX .X papU *etnZ°*** V*V \SS&% r,^'„c. Samoa, Solomon,_. e<s 9» Kong, .*Solomon Island °a?
      88 words