The Business Times, 16 July 2011

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Microfilm: NL31563
Total Pages: 48
1 20 The Business Times
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  • TOP STORIES
    • Article, Illustration
      Lock icon Time for debt deal running out: Obama
      712 2 Decision to raise debt ceiling has to be made soon to avert possible early August default AFP Bloomberg AP Washington PRESIDENT Barack Obama yesterday said that the United States was “running out of time” to reach a deal on raising the country’s debt
      AFP; Bloomberg; AP; REUTERS  -  712 words
    • Article
      Lock icon MARKETS
      140 2 H STI 3,084.24 (-4.46) H STI FUTURES 3,083.00 (-5.00) H SIMSCI 357.95 (-0.53) G SIMSCI FUTURES 358.60 (+0.20) STOCKS Friday Change KL COMP 1,577.25 -2.59 NIKKEI 225 9,974.47 +38.35 HANG SENG 21,875.38 -64.82 SET 1,079.91 +2.51 JAKARTA 4,023.20 +25.57 MANILA 4,458.74 +35.19 KOSPI 2,145.20 +15.13 SHENZHEN B 751.37 +0.95
      140 words
    • Article
      Lock icon Eight out of 90 banks fail EU stress tests
      188 2 Bloomberg Reuters London EIGHT banks failed the European Union stress tests after regulators said they had a combined capital shortfall of 2.5 billion euros (S$4.3 billion). The “stress test” of 90 banks in 21 countries showed five banks in Spain, two
      Bloomberg; Reuters  -  188 words
    • Article, Illustration
      Lock icon Rebekah Brooks quits as News Int’l CEO
      956 4  -  She knuckles under political and commercial pressure from the hacking scandal that closed News of the World By Neil Behrmann bt wo rl d @s p h .co m .sg London REBEKAH Brooks, succumbing to political and commercial pressure, yesterday resigned as chief
      AFP  -  956 words
    • Article, Illustration
      Lock icon Jetstar to base seven more jets in S’pore
      505 5  -  This will boost its services by 40 more weekly flights by the year-end By Ven Sreenivasan ven@sph.com.sg Singapore AUSTRALIAN-CONTROLLED budget carrier Jetstar is committing another US$500 million in aircraft investment into its Singapore hub to boost its already fast growing pan-Asian business.
      REUTERS  -  505 words
    • Article
      Lock icon Tiger Australia promises full refunds, cancellations
      396 5  -  By Ven Sreenivasan ven@sph.com.sg Singapore TIGER Airways Australia will provide full and automatic refunds to passengers whose travel was booked between July 2 and July 31, and will allow passengers to cancel flights without penalty until Aug 31. Tiger provided these assurances to its
      396 words
    • Article, Illustration
      Lock icon Tan Jee Say decides to run for presidency
      809 6  -  He says many Singaporeans want president with no PAP links By Lee U-Wen leeuwen@sph.com.sg Singapore IN a surprise move, former civil servant Tan Jee Say yesterday announced his decision to contest the upcoming presidential elections, which must be held by Aug 31
      AZIZ HUSSIN/THE STRAITS TIMES  -  809 words
    • Article, Illustration
      Lock icon Liverpool FC answers a banker’s dreams
      752 7  -  Sponsoring the football club has helped Stanchart to deliver its own message Reports by Malminderjit Singh msingh@sph.com.sg Kuala Lumpur LIVERPOOL Football Club (LFC) is growing faster internationally than it is domestically says its managing director, Ian Ayre, and hence South-East Asia figures prominently in
      AFP  -  752 words
    • Article
      Lock icon This debit card may take you to Anfield
      199 7 BESIDES playing a friendly match against a select Malaysian team, Liverpool players were also on hand to launch the Standard Chartered Liverpool FC MasterCard Debit Card. The card was launched by several Liverpool personalities, including players Jamie Carragher, Andy Carroll and Raul
      199 words
    • Article
      Lock icon Scholarships to woo talent as Economist Service expands
      390 7  -  By Teh Shi Ning tshining@sph.com.sg Singapore INCREASINGLY stark trade-offs in policy making demand more rigorous economic analysis, and the government thus plans to expand its Economist Service (ES) to deploy more officers across the public sector, including non-economic agencies. “The demand for
      390 words
  • Page 2 Advertisements
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      Lock icon Page 2 Advertisements Column 1
      66 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 30-33 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Shopping L2-4 Weekend With L5 Dining L6-8 Gadgets L9
      66 words
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  • Page 3 Advertisements
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      Lock icon Page 3 Advertisements Column 1
      116 3 CORUM LA CHAUX-DE-FONDS SUISSE k\ 1 f v y i A > t. ft J £2 'V t; v V S\.\\V* ilyl \v iw V ADMIRAL'S CUP SEAFENDER Diver's chronograph, grade 5 titanium case water-resistant to 300 meters. CORUM automatic movement chronometercertified (COSC). CORTINA WATCH ESPACE Millenia Walk Tel: 6339
      116 words
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  • Page 5 Advertisements
    • Advertisement
      Lock icon Page 5 Advertisements Column 1
      286 5 HOW CAN YOU PREVENT SUDDEN DEATH? Sudden death is usually due to an underlying heart condition. High Risk Factors includes: k'T 11^ Diabetes, High Blood Pressure, High Cholesterol, Strong Family History or Smokers. Those who participate in vigorous physical exercise like marathons are also at increased risk if there is
      286 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon A drive to succeed
      2362 8/9  -  On his second stint as CEO, Seagate’s Steve Luczo looks to Asia to take the company to the next level. By Amit Roy Choudhury amit@sph.com.sg THE CEO of Seagate, Stephen J Luczo, first came to Singapore way back in 1987. He remembers a very different country:
      ARTHUR LEE  -  2,362 words
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK July 11 -15, 2011
      • Article
        Lock icon Discounting the group coupon business
        47 10 THE go-go business of group coupon websites has ironically become a no-man’s land for start-ups. Even as Groupon gears up for an initial public offering in the US, cyberspace is littered with dormant group coupon sites and virtual cul-de-sacs of dead links.
        47 words
      • Article
        Lock icon Nestle offers $2.1b for a bite of Chinese candy
        64 10 NESTLE SA, the world’s largest food maker, is snapping up a majority stake in Singapore-listed Hsu Fu Chi International for $2.1 billion, in what is possibly the second-largest foreign acquisition of a mainland firm this year. This will also pave the
        64 words
      • Article
        Lock icon Firms still hide more than they tell: GTI study
        35 10 MOST Singapore-listed companies do just the bare minimum, when it comes to corporate governance disclosure practices, findings from this year’s governance and transparency index ranking showed.
        35 words
      • Article
        Lock icon S’pore can help in yuan’s internationalisation
        62 10 SINGAPORE believes it can play a role in the internationalisation of the yuan but will abide by the pace that China chooses. Increased use of the yuan internationally is inevitable in the next decade, Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said on
        62 words
      • Article
        Lock icon Boardroom income disparity widening: survey
        32 10 AN interesting disparity is emerging between the salaries of non-ex-ecutive directors and executive ones, a survey of 68 Singapore listings by the Singapore Institute of Directors showed.
        32 words
      • Article
        Lock icon Europe shivers, euro in a tizzy, Asia catches a cold
        47 10 STOCK markets in Asia and other parts of the world were awash in a sea of red on Tuesday as the eurozone debt crisis continued to threaten Italy and Spain. The euro lost ground against Asian units.
        47 words
      • Article
        Lock icon Mitsui sails in with clincher for Portek
        59 10 PORTEK International’s second suitor has finally stepped out from the shadows. Japanese conglomerate Mitsui Co on Wednesday offered $1.40 per share for the entire stock of the port terminal specialist. The offer trumps an earlier offer of $1.20 per share made by International
        59 words
      • Article
        Lock icon Bid to turn CBD towers into homes hits a wall for some
        57 10 THE Republic’s planning authority may be acting to prevent a hollow-ing-out of office space in the old financial district. Industry watchers say a few office building owners have been turned down this year after they had applied to
        57 words
      • Article
        Lock icon Fed chief gives markets fresh hope for QE3
        33 10 FEDERAL Reserve chairman Ben Bernanke said on Wednesday that the central bank is prepared to provide additional stimulus if the current US economic lull persists.
        33 words
      • Article, Illustration
        Lock icon SETBACK
        26 10 News Corp chief Rupert Murdoch dropped his bid for control of BSkyB as he battled a series of crises including accusations of phone hacking AFP
        AFP  -  26 words
      • Article
        Lock icon China’s GDP growth in Q2 eases to 9.5%
        34 10 THE Chinese economy expanded by 9.5 per cent in the second quar- ter year-on-year, still elevated but down from 9.7 per cent in the preceding quarter.
        34 words
      • Article
        Lock icon Murdoch drops BSkyB bid amid scandal
        69 10 RUPERT Murdoch dramatically dropped his bid for control of pay-TV giant BSkyB on Wednesday, finally bowing to pressure from the British government over the phone hacking scandal at his newspaper empire. Hours after Prime Minister David Cameron backed a motion calling for the withdrawal
        69 words
      • Article
        Lock icon Growth grinds to a near-standstill in Q2
        39 10 FLASH estimates show a sharp-er-than-expected slowdown in Singapore’s growth last quarter, prompting at least one economist to warn that full-year GDP may slip below the official 5-7 per cent growth range forecast.
        39 words
      • Article
        Lock icon Obama hits the roof as debt ceiling talks stall
        58 10 THE testy negotiations over raising the US debt ceiling hit a new low prompting the normally cool President Barack Obama to storm out of a meeting with Republican Congressional leaders. “Don’t call my bluff,” he told them, adding that he was
        58 words
    • Article
      Lock icon NEXT WEEK July 18-22, 2011
      84 10 USDATA July 19 June housing starts Building permits July 20 June existing home sales July 21 June leading indicators SINGAPORE DATA July 18 June merchandise trade July 22 Q2 real estate information EVENTS July 18 Russian President Dmitry Medvedev and German Chancellor Angela Merkel to
      84 words
  • Page 10 Miscellaneous
    • Miscellaneous
      Lock icon Page 10 Miscellaneous Column 1
      330 10 CRYPTIC CROSSWORD Across 1 Another bloody hold-up! (10) 9 Money for some tobacco (4) 10 Dance with sailor before everyone retires (10) 11 Frisk doctor entering prison (6) 12 In poor condition, we’re heard to ask for sympathy (7) 15 Speech might indicate where one’s home is (7) 16 Why
      330 words
    • Miscellaneous
      Lock icon Page 10 Miscellaneous Column 2
      8 10 SATURDAY with Ludwig ‘Welcome to the food festival!’
      8 words
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  • COMPANIES
    • Article, Illustration
      Lock icon CRCT’s Q2 DPU rises 3.9%; gross revenue up 10.9%
      466 11  -  Trust observing market, doesn’t rule out pursuing a yuan-denominated dual listing By Emilyn Yap emilyny@sph.com.sg Singapore CONSUMERS in China are spending and CapitaRetail China Trust (CRCT) has ridden on that trend to post strong results for the second quarter ended June
      FILE PHOTO  -  466 words
    • Article
      Lock icon 800 Super sizzles as Kitchen Culture launches IPO at 30¢
      353 11  -  By Kelly Tay kellytay@sph.com.sg Singapore EVEN as one initial public offering on Catalist 800 Super Holdings rose 43 per cent above its offer price, another is floating its shares at an offer price of 30 cents a share. Waste management
      353 words
    • Article
      Lock icon SIA’s passsenger load factor dips in June
      327 11  -  By Ven Sreenivasan ven@sph.com.sg Singapore INCREASED capacity and a slide in passenger carriage saw SingaporeAirlines’ passengerloadfactor decline to 78.8 per cent in June, four percentage points down from 82.9 per cent a year ago. The airline said that its year-on-year passenger carriage (measured
      327 words
    • Article, Illustration
      Lock icon Minding the CEO, average worker pay gap
      1017 12  -  The situations in the US and Singapore offer studies in constrasts and similarities By Teh Hooi Ling hooiling@sph.com.sg Singapore THE sharp rise in pay packages of chief executive officers (CEOs) in the West has drawn much criticism. A BT case study suggests that
      Source: Institute of Policy Studies, AFL-CIO Calculations, www.paywatch.org, and BT  -  1,017 words
    • Article, Illustration
      Lock icon Europe’s debt problems main drag in drab week
      542 13  -  STI ends week in negative territory but 800 Super has a healthy debut stocks| R Sivanithy sivan@sph.com.sg Senior correspondent THE triple threats of a softening US economy, a hard landing for China’s economy and spreading bankruptcy in Europe proved too much for
      542 words
    • Article
      Lock icon TOP 20 ACTIVES
      112 13 VOL CLOSE BundCenter Inv 151,440 20.5 0.6 3.0 800Super 102,792 31.5 0.0 0.0 NobleGrp 64,691 178.5 -9.0 -4.8 Ezra 47,889 131.5 -17.0 -11.4 GoldenAgri 34,058 69 -1.0 -1.4 GentingSP 31,575 187 1.0 0.5 Sunmoon 26,400 0.2 0.0 0.0 CapMallsAsia 23,836 145.5 0.5 0.3 Yangzijiang 16,130 131 -3.5
      112 words
    • Article
      Lock icon STI STOCKS
      108 13 Stock name Close Change CapMallsAsia 1.455 +0.005 CapitaLand 2.920 -0.010 CapitaMall 1.915 +0.005 CityDev 10.480 +0.010 ComfortDelGro 1.415 DBS Grp 14.750 +0.050 F&N 5.750 -0.090 GLP 1.990 -0.020 Genting SP 1.870 +0.010 Golden Agri 0.690 -0.010 HK Land 6.680 -0.050 JMH 54.500 -0.200 JSH 31.200 +0.700 Jardine C&C
      108 words
    • Article
      Lock icon TOP GAINERS
      65 13 BY CENTS CLOSE UP JSH 3120 85.3 2.3 DBXT STGLDv100 10US$ 2964 77.9 2.2 DBXT S&P Short 10US$ 4231 47.5 0.9 DBXT MSEurope 10US$ 4700 40.2 0.7 DBS Bk 4.7% NCPS 100 ***** 20.0 0.2 Orchard Parade 162 17.0 11.7 SIA 200 1438 17.0 1.2 DBXT MSINDO 10us$
      65 words
    • Article
      Lock icon TOP LOSERS
      62 13 BY CENTS CLOSEDOWN OCBC BK 5.1%NCPS100 ***** -89.0 -0.8 DBXT SPASX200 10US$ 3459 -69.4 -1.6 DBXT Nifty 10US$ ***** -63.3 -0.4 IS DJ US Tech 6493 -62.1 -0.8 Lyxor AsiaRE 10US$ 913 -56.0 -4.8 GLD 10US$ ***** -54.8 -0.3 JMH 5450 -24.4 -0.4 DBXT MSUSA 10US$ 3136 -23.1
      62 words
    • Article
      Lock icon Orchard Parade shares soar 11.7% on Reit hopes
      157 13 Reuters Singapore SHARES of Singapore-listed Orchard Parade Holdings rose 11.7 per cent yesterday after the company said it was in talks with Far East Organization over the possible injection of some assets into a real estate investment trust. At the close of
      Reuters  -  157 words
    • Business briefing
      • Article
        Lock icon Mapletree adds to logistics facilities in China
        146 13 MAPLETREE Investments Pte Ltd is adding to its logistics facilities in China with the signing of two memoranda of understanding (MOU) and a strategic partnership agreement. The company said that the MOUs signed with the government of Zhengzhou in Henan Province, central China,
        146 words
      • Article
        Lock icon Pteris signs MOU to buy AeroMobiles
        121 13 PTERIS Global Ltd has entered into a memorandum of understanding (MOU) to buy AeroMobiles, a company which makes and repairs ground support equipment for the airline industry. The MOU was entered yesterday with Yeoh Phee Nee, who holds 88 per cent of AeroMobiles. The
        121 words
      • Article
        Lock icon SingTel seeks shareholders’ nod for chairman’s benefits
        97 13 SINGAPORE Telecommunications Ltd (SingTel) will seek shareholders’ approval at its annual general meeting on July 29 to provide its chairman transport benefits, including the use of a car and driver. The telco said that it was customary for large listed companies to provide
        97 words
    • Article
      Lock icon PCS invests in new petrochemical projects
      619 14  -  Ventures such as its new C4 plant will help it to stay competitive against emerging rivals in the Middle East and Asia By Ronnie Lim ronnie@sph.com.sg Singapore SINGAPORE’S first petrochemical complex, Petrochemical Corporation of Singapore (PCS), is investing in new projects to stay competitive
      619 words
    • Article
      Lock icon UOB in JV for US$400m US property fund
      161 14 Reuters Singapore UNITED Overseas Bank (UOB) said that it has teamed up with UK asset management company Hermes to set up a US$400 million US property fund. UOB said that a joint venture between the Singapore lender and HGF Investor Fund will
      Reuters  -  161 words
    • Article
      Lock icon Emerging mkt inflows slow for 2nd week
      285 14 Bloomberg Singapore EMERGING-MARKET equity fund inflows slowed for the secondstraightweek as investorsgrappling with a“wall ofworry” curbed the amount of cash they put into developing nations’ assets, according to Citigroup Inc. Funds investing in developing-nation stocks took in about US$872 million in the week
      Bloomberg  -  285 words
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  • Page 14 Advertisements
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      Lock icon Page 14 Advertisements Column 1
      59 14 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 A lH PRIME f|f§§| H tiMV, ssSs i»f|f||l§f msM 2 >«• -7;. SE3: .T« ■n t» rS5i
      59 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Whole new ballgame for C-level executives
      869 15  -  Three clear trends are emerging in the executive search sector for the rest of 2011 and in the years ahead from the desk of Lim Chye Lian CEO, IIC Partners TOUGH to very tough. That’s what the past few years have been like for
      869 words
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  • SINGAPORE
    • Article, Illustration
      Lock icon Retail sales show sharp rise in May
      426 16  -  Analysts believe consumer spending figures in July-December will continue growing from last year By Felda Chay feldac@sph.com.sg CONSUMER spending in May grew strongly from a year ago, with retailers from a broad range of sectors registering higher sales as shoppers snapped up computers,
      BLOOMBERG FILE PHOTO  -  426 words
    • Article
      Lock icon COE quota down by just 44 cars
      373 16  -  By Carine Lee carinel@sph.com.sg THE Certificate of Entitlement (COE) quota for the next six months has been set at 22,324, down by 44 from 22,368 for the February-July 2011 period. Announced yesterday by the Land Transport Authority, a monthly average of 3,721 COEs
      373 words
    • Article
      Lock icon ACCA golf event draws 60
      187 16 SOME 60 golfers participated in the 2nd ACCA Annual Golf Challenge, held at the Singapore Island Country Club (SICC) on July 13. The event was organised with the objective of getting members, friends and partners of ACCA together, strengthening business relationships and networking with industry
      187 words
    • Article, Illustration
      Lock icon S’pore faces greater global uncertainty: Tony Tan
      634 17  -  Events such as Europe debt crisis are stark reminders of volatility By Lee U-Wen leeuwen@sph.com.sg THE ongoing sovereign debt crisis in Europe and the deadlock over the US government’s legislated borrowing limit are stark reminders of an increasingly uncertain global economic climate that
      AZIZ HUSSIN/THE STRAITS TIMES  -  634 words
    • Article
      Lock icon New PG13 rating for film, TV, video
      324 17  -  By Lester Hio lesterh@sph.com.sg THE Media Development Authority (MDA) has announced a new content rating for film, television and video, as well as standardised rating classifications across these three platforms. This follows from recommendations by the Censorship Review Committee, which met in September
      324 words
    • Article
      Lock icon Web filters’ promotion to be compulsory
      462 17  -  By Teo Si Jia, Winston Chai teosj@sph.com.sg winstonc@sph.com.sg LOCAL authorities are hoping to take the good and less of the bad from pervasive Internet usage among the young by making it compulsory for Internet service providers (ISPs) to promote the use of digital gatekeepers
      462 words
    • Article
      Lock icon Local firms need to improve service fast
      537 18  -  In order to manage customer satisfaction, services firms need to take a multi-pronged approach, says Lee Yi Shyan By Mindy Tan tanmindy@sph.com.sg IT is imperative that Singapore firms move quickly to catch up with other advanced economies, some of which are outpacing Singapore
      537 words
    • Article, Illustration
      Lock icon Grand old dames to be refurbished
      380 18  -  By Kelly Tay kellytay@sph.com.sg DESIGN plans for the refurbishment of Victoria Theatre (VT) and Victoria Concert Hall (VCH) were unveiled yesterday by the National Arts Council (NAC). The well-loved performing arts buildings at Empress Place are to be given a new lease of life
      380 words
  • Page 16 Advertisements
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      Lock icon Page 16 Advertisements Column 1
      41 16 Check out these positions and five hundred more in CATS Recruit Executive Appointments in The Straits Times now! Citibankisrecruitingan Operations Support Senior Supervisor NationalEnvironmentAgencyhas positionsopenfor Environmental Health Officers ARUPhasvacanciesfor Senior ResidentTechnical Officers Siemensishiring Mechanical Design Engineers WWF(WorldWideFundforNature) islookingfora Chief Executive Officer
      41 words
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  • WORLD
    • Article
      Lock icon Credit Suisse faces probe in US tax evasion case
      533 19 It involves private banking services to American customers Bloomberg Zurich CREDIT Suisse Group, the sec-ond-biggest Swiss bank, is a target of an investigation by the US Department of Justice over former cross-border private banking services to US customers. “Subject to our
      Bloomberg  -  533 words
    • Article
      Lock icon Conoco’s split puts BP under pressure
      402 19 Bloomberg London BP plc, Europe’s second-largest oil company, came under pressure from analysts to follow ConocoPhillips and spin off its refining business as the shares struggle to recover from last year’s Gulf of Mexico spill. ConocoPhillips said yesterday it will become two separate, publicly
      Bloomberg  -  402 words
    • Article, Illustration
      Lock icon China fashion market to triple to 1.3t yuan in 10 yrs
      341 19 Reuters Shanghai CHINA’S fashion market is expected to triple in size to more than 1.3 trillion yuan (S$245.5 billion) in the next 10 years, driven by the rise of the middle-class affluent consumer in China, Boston Consulting Group said
      Reuters; REUTERS  -  341 words
    • Article, Illustration
      Lock icon China FDI up 18.4% in first half this year
      668 20 Gain comes as firms such as Nestle, Ford seek expansion Bloomberg Hong Kong FOREIGN direct investment in China rose 18.4 per cent in the first half of the year as companies such as Nestle SA and Ford Motor Co boosted their
      Bloomberg; XINHUA  -  668 words
    • Article
      Lock icon Over 4,200 sq km polluted by spill: China
      408 20 Govt considering seeking compensation from ConocoPhillips for the leak: media AFP Beijing A HUGE oil spill off the Chinese coast has now contaminated an area around six times the size of Singapore, state media reported yesterday, as the government said it may
      AFP  -  408 words
    • Article
      Lock icon Consumer prices post largest drop in a year
      599 21 But underlying inflation pressures remain elevated; manufacturing is weak latest us data Reuters Washington US consumer prices fell slightly more than expected in June to post their biggest drop in a year on weak petrol costs, but underlying inflation pressures remain elevated.
      Reuters  -  599 words
    • Article
      Lock icon Chinese women learn to snag rich men
      245 21 Reuters Beijing WANT to marry rich? Then the unlikely named Beijing Moral Education Centre for Women is for you. For 30 hours of training costing 20,000 yuan (S$3,783), women keen to snag a billionaire, millionaire or even just an affluent man learn techniques
      Reuters  -  245 words
    • Article, Illustration
      Lock icon Citigroup’s profit increases 24% in Q2
      419 21 Bloomberg New York CITIGROUP Inc, the third-big-gest US bank, said profit rose 24 per cent, beating analysts’ estimates on higher invest-ment-banking fees and fewer losses tied to troubled assets. Second-quarter net income was US$3.34 billion, or US$1.09 a share, compared with US$2.7 billion, or
      Bloomberg; BLOOMBERG FILE PHOTO  -  419 words
    • Article, Illustration
      Lock icon BHP buys oil & gas firm for US$12.1b cash
      595 22 BHP buys oil gas firm for US$12.1b cash BHP is committed to be in every aisle of the energy supermarket, says CEO Bloomberg Melbourne BHPBilliton Ltd,theworld’slargest mining company, agreed to acquire Petrohawk Energy Corp for about US$12.1 billion in cash in its biggest acquisition, betting natural gas demand will gain
      Bloomberg; AP  -  595 words
    • Article
      Lock icon Japan hit by more radiation-tainted meat
      577 22 Bloomberg Tokyo MORE beef from cattle in Japan that ate straw tainted by radiation has found its way into the food supply, deepening concern about the safety of meat as the country struggles to contain the spread of the contamination. Cattle at the farm
      Bloomberg  -  577 words
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  • SGX
    • Article
      Lock icon SGX CATALIST
      9965 26 Transaction date: Jul 15 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 $mil 21 13.2 8Telecom 13.2 -1.8 2 13.2 13.2 13.2 15 7.8 4.6 2.8 63.2 12 4.5 A-Sonic 7 unch 141 7.1
      9,965 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 1 8 5 0 0 0 1 8 5 Manufacturing 29 85 42 3 10 5 32 95 47 Commerce 9 26 15 2 7 2 11 33 17 Tpt/Stor/Comms 11 14 16
      186 words
    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      837 26 For week beginning Jul 11 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Pacific Andes Res 14-Jul-11 N.S.Hong Investment (BVI) *OE ***** na *****37 65.76 *****76 63.75 Pacific Andes Res
      837 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 23,321 23,321 46,561 46,561 Manufacturing 137,670 17,290 154,960 142,967 353 143,320 Commerce 125,106 4,565 129,671 174,139 438 174,577 Tpt/Stor/Comms 139,193 3,315 142,508 196,819 461 197,280 Finance 14,622 14,622 113,761 113,761 Construction 23,273 21,057 44,330 8,096
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    • Article
      Lock icon OIL
      75 27 Jul 14 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 116.76 -1.88 WTI (Near Mth) 95.75 -2.14 Dubai (1-Mth F) 112.11 0.40 Tapis blend 123.46 0.35 Minas 119.66 0.35 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 105.67 -0.16 Jet Kerosene 130.20 0.20 US$/barrel Opec Oil Basket Price
      75 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      118 27 Jul 15 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.349 1.273 Can dollar 1.292 1.243 Euro 1.754 1.687 Sterling pound 2.002 1.925 NZ dollar 1.055 1.005 US dollar 1.234 1.187 Local dollars to 100 units of foreign currency: Currencies Sell
      118 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      83 27 Jul 15 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****F 13.10.2011 0.30 1-Year BY*****X 02.05.2012 0.38 0.3 0.3 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 103.87 103.93 103.85 5-Year N*****0W 1.125 01.04.2016 101.84
      83 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 27 Jul 15 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2965 1.2979 1.0646 1.0649 Canadian dollar 1.2671 1.2689 1.0405 1.0411 Euro 1.7186 1.7201 1.4112 1.4113 NZ dollar 1.0220 1.0233 0.8392 0.8396 Sterling pound 1.9630 1.9649 1.6119 1.6122
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      Lock icon STOCK MARKETS
      92 27 YTD change: -3.32% 52-week high: 3,313.61 on Nov 9,2010 52-week low: 2,910.21 on Aug 25,2010 Source: Bloomberg YTD change: -5.04% 52-week high: 24,988.50 on Nov 8,2010 52-week low: 20,007.80 on July 19,2010 Source: Bloomberg YTD change: +7.43% 52-week high: 12,876.00 on May 2,2011 52-week low: 9,936.62 on Aug
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      Lock icon METALS
      66 27 Jul 15 GOLD (US$/oz) Jul 15 Jul 14 Hong Kong 1578.*****4.80 Jul 14 Jul 13 London 1583.*****7.11 1584.*****7.88 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 46.85 46.45 Source: UOB PLATINUM Lon (US$/oz) Jul 14 Close Previous PM Fix 1777.*****0.00 AM Fix 1770.*****4.00 Source: Thomson Reuters PLATINUM NYMEX
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      Lock icon LIFFE
      82 27 Jul 14 COCOA (£/tonne) Close Prev High/Low Jul 11 1948 1950 1970/1921 Sep 11 1976 1986 2009/1959 Dec 11 2007 2017 2037/1990 Mar 12 2026 2035 2054/2010 COFFEE (US$/tonne) Close Pev High/Low Jul 11 2261 2281 2294/2267 Sep 11 2306 2331 2349/2303 Nov 11 2337 2360 2379/2333 Jan 12
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      Lock icon PALM OIL
      65 27 Jul 15 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 11 3120 3120 3120 3120 9 1181 Aug 11 3136 3121 3140 3123 431 8766 Sep 11 3126 3116 3138 3115 ***** ***** Oct 11 3125 3115
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      Lock icon CHICAGO BOT
      93 27 Jul 14 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jul 11 1390.*****7.*****6.*****0.25 Aug 11 1382.*****4.*****7.*****4.00 Sep 11 1379.*****4.*****5.*****3.25 Nov 11 1384.*****9.*****9.*****8.00 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Jul 11 57.45 unch 57.62 57.30 Aug 11 57.31 57.55 58.00 57.30 Sep 11 57.52 57.78 58.23
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      Lock icon SMX MARKET UPDATE
      60 27 As on 14 July 2011 www.smx.com.sg For membership please contact: Ivan Han, DID +65 9098 8455 membership@smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE PREV CLOSE PRECIOUS METALS Gold Cash Aug-11 1590.8 1583.7 1586.3 1573.6 CURRENCY Euro-US Dollar Sep-11 1.423 1.4121 1.4142 1.4131 Aust-US Dollar Sep-11 1.0655 1.0653 1.0654
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      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      374 27 In local curr In S$ In US$ dy yr dy yr dy yr Jul 14 Index Change Change Change Change Change Change World Index Preliminary 901.6 -0.4 0.4 -0.4 -2.3 -0.4 2.7 ‡EAFE Preliminary 769.1 -0.8 -4.0 -0.8 -4.4 -0.8 0.5 Europe Preliminary 1132.0 -0.9
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      Lock icon LONDON METALS
      72 27 Jul 14 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2476.50 2481.75 3 months 2507.00 2513.00 Copper, Grade A (US$/tonne) Cash 9609.50 9628.25 3 months 9630.00 9650.00 Lead (US$/tonne) Cash 2653.00 2689.00 3 months 2665.00 2701.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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  • PERSPECTIVE
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      Lock icon The business of being green
      1300 28 / 29  -  SGX’s policy statement on sustainability reporting can be the catalyst for firms to make sustainability a core strategic corporate activity. By Robert Fleming By Robert Fleming Robert K Fleming is Adjunct Associate Professor in the Department of Marketing at NUS Business School. THE Singapore Exchange
      STOCK.XCHNG  -  1,300 words
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      Lock icon Piracy: A growing global menace
      815 28 / 29  -  By John Daly Dr John Daly writes for OilPrice.com OVER the last few years, thanks largely to Hollywood’s “Pirates of the Caribbean” franchise, maritime buccaneers have acquired a highly romantic image. The reality of modern piracy is far removed from the images peddled by Tinseltown.
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon The lowdown on universal life plans
        1280 30 / 31  -  The market for such large insurance policies is seen to be so robust that HSBC is launching one and Great Eastern is monitoring interest. But there are many risks involved, especially if the plan is in a foreign currency. By Genevieve Cua By Genevieve
        STOCK.XCHNG  -  1,280 words
      • BROKERS’ TAKE
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          Lock icon M1
          328 30 / 31 Buy DMG Partners Research June 15 Close: S$2.59 There were no surprises in M1’s H1 FY11 results with an expected interim dividend per share (DPS) of 6.6 cents per share declared (payable on Aug 11). The main highlights from the results call were the doubling of NGNBN customers q-o-q
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          Lock icon SembCorp Marine
          220 30 / 31 Buy DBS Group Research June 15 Close: S$5.28 As highlighted in our flash note “Possible award of PTTEP’s Zawtika platform project” dated June 13, Sembcorp Marine has secured the contract worth about S$600 million for an integrated processing and living quarters platform from PTTEP International Limited (PTTEP), through
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          Lock icon Ezra Holdings
          195 30 / 31  -  BUY OCBC Investment Research June 15 Close: S$1.315 Compiled by Lynn Kan Ezra Holdings reported a 51 per cent y-o-y increase in revenue to US$164.8 million but saw a 75 per cent fall in net profit to US$6.6 million in Q3 FY11, mainly due to a fall in
          195 words
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        Lock icon What to do about the darned USD
        1331 32  -  Investors may be nursing paper losses on US dollar investments. But avoiding US dollar assets in a globally diversified portfolio is not the solution. A process of continuous review of the portfolio in a holistic manner is what it takes to succeed in
        Source: Bloomberg Professional  -  1,331 words
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        Lock icon Punting for quick profits from blue chips
        1166 33  -  Top candidates include Golden Agri, NOL, Nobel, Olam, Genting Singapore, City Developments and Sembcorp Marine show me the money| Teh Hooi Ling hooiling@sph.com.sg Senior correspondent ~The writer is a CFA charterholder SINCE November last year, the stock market has been trapped in a
        Source: Compiled by BT with data from Bloomberg  -  1,166 words
    • WEALTH REAL ESTATE
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      171 36 M JUDEMARS PIGUET le maitre de I'horlogerie depuis 1875 JULES AUDEMARS PERPETUAL CALENDAR S2 <4 Va 0* 8 *1 kJ W r Hfvn r r 0 a# Vs. I m 1 gfcvV" EmiU v v > .WIUl;Jt\v V H Pk ?V« The Jules Audemars Perpetual Calendar watch is a masterpiece
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      60 1 LivingTHEBUSINESSTIMESWEEKEND|JULY16-*****1BTTHE BUSINESS TIMES WEEKEND JULY 16-17 2011 WEEKEND WITH Fund manager Philip Hemnell L5 ALTERNATIVE RETAILING Putting a new spin on the buying experience GUEST CHEF Jiggs Kalra of Punjab Grill L8 DIAMOND ADDICTION HOME GARDEN The writing on the walls L10-11 DINING Art on the side L6-7 GOLF BT
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  • BT Living
    • SHOPPING
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        Lock icon Alternative retailing
        2953 2/3  -  Shopping doesn’t necessarily mean walking into a conventional store or clicking on ‘check out’ in an online portal anymore. Melissa Lwee-Ramsay hunts down some enterprising retail newcomers who are putting a new spin on the buying experience Melissa Lwee-Ramsay mellwee@sph.com.sg Vama http://www.vamastyle.com THERE is something very appealing about
        VANESSA CLEMENTSON; SHIVA DESIGNS PHOTOS BY ARTHUR LEE; YEN MENG JIIN  -  2,953 words
    • WEEKEND WITH
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        Lock icon Painting for friends
        918 5  -  Philip Hemnell likes the idea of creating art, and then giving it away. weekend with PHILIP HEMNELL fund manager occasional artist By btnews@sph.com.sg Geoffrey Eu ABOUT a year after Philip Hemnell moved to New York City in 1989 to work in the finance industry, he went to
        PHOTOS BY YEN MENG JIIN  -  918 words
    • DINING
      • Article
        Lock icon Dining by design
        34 6/7 Set against a backdrop of avant garde art, retro chic fittings or Mother Nature’s own handiwork, these new restaurants offer diners a visual escape from the concrete jungle, plus creative cuisine
        34 words
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        Lock icon The Garden of Eden
        866 6/7  -  By Audrey Phoon aphoon@sph.com.sg (to open next month) 148 Neil Road Z6222 2119 thegardenofedenrestaurant.com THERE’S no proper explanation for it, but just as Adam and Eve found the fruit from the Tree of Knowledge irresistible, so it’s tough for some writers to refrain from punning on
        PHOTOS OF GARDEN OF EDEN BY YEN MENG JIIN  -  866 words
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        Lock icon Vineyard @ Hort Park
        624 6/7  - Vineyard Hort Park By Dickson Li dicksonl@sph.com.sg 33 Hyderabad Road, Hort Park Z6479 7977 PEOPLE always tell you that it’s about the journey, not the destination. As far as restaurants go, though, the adage is completely irrelevant. Take “destination-dining concept” restaurant Vineyard Hort Park, for instance, which opened its doors
        624 words
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        Lock icon Hummerstons
        668 6/7  -  By Tan Teck Heng thtan@sph.com.sg 11 Unity Street #02-14, Robertson Walk Z6737 8863 hummerstons.com TURN a corner at the second level of Robertson Walk and you’ll reach a quiet little alcove with the air of a cottage in the countryside. With French windows and a clean, white facade, there’s
        668 words
    • ENTERTAINING
      • Article, Illustration
        Lock icon Going easy on the chilli
        885 8  -  Contrary to what many believe, chilli is not intrinsic to Indian cuisine, says food historian Jiggs Kalra of Punjab Grill. By Tan Teck Heng guest chef By Tan Teck Heng thtan@sph.com.sg EPICUREAN pursuits are fast becoming a science, what with the advent of molecular gastronomy,
        PHOTOS BY JOHN HENG  -  885 words
    • GADGETS
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        Lock icon Go wireless
        682 9  -  Answer calls without ever picking up your mobile phone or control your sound system from a distance with the latest nifty wireless Bluetooth gizmos. By Lester Hio gizmos.By Lester Hio limchris@sph.com.sg Tech ClipIIMini 606, $78 A bugbear for someone who has two phones say, a personal mobile and
        682 words
    • HOME & GARDEN
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        Lock icon The writing on the walls
        1190 10 / 11  -  Visitors to Tan Ying Hsien’s family home in Bukit Timah become witnesses to 40 years of personal history as well as a larger past, one that encapsulates Singapore during its early post-Independence years. By Geoffrey Eu personal space years.By Geoffrey Eu btnews@sph.com.sg THERE’S something charmingly
        PHOTOS BY JOHN HENG  -  1,190 words
    • READERS' PROMOTION
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        Lock icon A home away from home
        579 12 / 13  -  Guests at Orchard Hotel Singapore can always be sure of star treatment and with its newly furbished Claymore Wing, they can expect to feel right at home Compiled by Vanessa Chan BT Promotions Team vanchan@sph.com.sg CONVENIENTLY located on the famed Orchard Road, Orchard Hotel Singapore
        579 words
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        Lock icon Hua Ting Champagne Brunch
        196 12 / 13 Diners seeking to indulge need to look no further than the Hua Ting Champagne Brunch. Created by award-winning Group Master Chef Chan Kwok, this brunch menu selection comes with a free flow of Moet and Chandon champagne. You can also choose to pair your menu with
        196 words
      • Article, Illustration
        Lock icon Mooncakes
        155 12 / 13 Mooncake lovers can go straight for Orchard Hotel’s specially crafted pastries. The famous Group Master Chef Chan Kwok has created two new mooncakes with sweet and savoury flavours. The Mini Snow Skin Seaweed marries the savoury taste of the seaweed with the sweetness of the smooth bean paste filling.
        155 words
    • HEALTH
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        Lock icon Trouble with the thyroid
        820 14  -  While the majority of thyroid nodules are not cancerous, treatment is essential as disorders of the gland can lead to serious health problems in the long run. By Cheah Ui-Hoon By Cheah Ui-Hoon uihoon@sph.com.sg SUFFERING from thyroid disorder and distressed by the protruding eyes that are
        820 words
    • SPORT
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        Lock icon More than just a hub for sports
        783 15  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor IN THE next decade, Asia will boast as many as 20 world-class golf tournaments with a prize purse of US$5 million each, which would further propel the continent to compete better with Europe and
        783 words
    • BT CORPORATE GOLF LEAGUE 2011
      • Article, Illustration
        Lock icon Bigger and better
        889 16/17  -  The Business Times Corporate Golf League’s debut tee-off last year proved to be such an exhilarating meet for golf enthusiasts that this year promises to be even more adrenaline-charged. By Justine Moss By Justine Moss THE second edition of the Business Times Corporate Golf League tees off
        REUTERS; BT FILE PHOTO  -  889 words
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        Lock icon League winner all revved up
        535 16/17 LAST year’s BT Corporate Golf League winners OAAG may have a different line-up for this year’s League, but they will maintain the same approach that saw them pip Big Fish by a point to win the inaugural title. “Everyone else in our team has zero,
        535 words
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        Lock icon Show of leg at Rajah & Tann
        270 16/17 Show of leg at Rajah Tann LAW firm Rajah Tann are returning for this year’s League with a largely unchanged team from last year. Says team captain Winston Kwek, “Our teams might be the same but not our handicaps which have gotten worse!” He adds, “The Business Times did a
        270 words
    • MOTORING
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        Lock icon COMPACT COOL
        664 18  -  The best part of the new Audi Q3 is its ability to seamlessly combine performance and functionality. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THE SUV is not quite passe yet, especially when it has been reinvented for the urban jungle. The new Audi Q3 is a compact
        664 words
      • Article, Illustration
        Lock icon LINING UP THE Q
        503 19  -  A look at Audi’s Q5 and Q7, the two other models in the German carmaker’s SUV range. By Samuel Ee samuelee@sph.com.sg THE Audi Q3 is Audi’s compact performance sport-utility vehicle aimed at playing a mul-ti-functional urban-friendly role. It is the third in the Germanpremium carmaker’s SUV
        503 words
      • Article, Illustration
        Lock icon SMALL WONDER
        567 20  -  The sleek Volvo S60 T4 sedan offers a variety of attractive features. By Samuel Ee samuelee@sph.com.sg VOLVO has unveiled another Cat A wonder and this time, it is a sleek sedan. The Volvo S60 T4 slots neatly into the small car COE category because of its 1.6-litre turbocharged
        567 words
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      32 6/7 SIFIED Give your house a fresh coat of paint! AT *3 To find out more, turn to CLASS 112 in CATS Classified in The Straits Times now. BUY IT• SELL IT'FIND IT
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      704 15 wine&dine with BTWeekend Chatterbox Mandarin Orchard Singapore, Level 5 333 Orchard Road Z6831-6288 Home to the signature Mandarin chicken rice, Chatterbox is an iconic coffee house renowned for its Asian local delights and Western favourites. Feast on the award-winning Mandarin chicken rice, along with other signature favourites such as Mandarin
      704 words
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