The Business Times, 2 August 2011
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2011-08-02
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The Business Times
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Title Section23 2011-08-02 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|Sl A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 138/08/2010 Tuesday, August 2,201123 words
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Article, Illustration843 2011-08-02 1 JOYCE HOOI - It displeases both Democrats and Republicans, and also gets panned by analysts By JOYCE HOOI [SINGAPORE] As the United States hugged the brink of financial default over the weekend, crisis was averted or postponed with a last-minute deal that promised to lift theREUTERS - 843 words
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Article144 2011-08-02 1 GST INDEX 3,215.27 (+26.01) G ST INDEX FUTURES 3,177 (+24) G SIMSCI 373.36 (+3.40) G SIMSCI FUTURES 369.10 (+4.40) FOREX US$ S$ US$ (S$ per US$) 1.201 (US$/S$ per 1.644 1.975 EURO (US$/S$/E) 1.439 1.728 Foreign currency per US$ S$ YEN 77.50 64.60 RM 2.945 2.452 HK$ 7.792144 words
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Article, Illustration833 2011-08-02 1 TEH SHI NING - By TEH SHI NING [SINGAPORE] Singapore will not swerve from its focus on economic development and will remain open to global capital and talent, Prime Minister Lee Hsien Loong said last night. To the many who have asked since the May general election833 words
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Page 1 Advertisements
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Advertisement121 2011-08-02 1 COMMENTARY Challenge in the Pacific: The Rise of China PAGE 23 SME Inc Relocating data centres his way PAGE 27 COMPANIES Shionogi taking 24% stake in C&O Pharm PAGE 4 Washington strikes a dumb deal for economy, writes Vikram Khanna I PAGE 2 8 *****1 *****4 9 ULYSSE/NARDIN SINCE 1846121 words
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Advertisement12 2011-08-02 1 S’PORE NEWS Circle Line to fully open on Oct 8 PAGE 1012 words
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TOP STORIES
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Article512 2011-08-02 2 US debt deal averts disaster, draws flak AS the United States hugged the brink of financial default over the weekend, crisis was averted or postponed with a last-minute deal that promised to lift the debt ceiling and lower spending. On Sunday night, lawmakers agreed to a two-stage package512 words
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Article, Illustration649 2011-08-02 2 VIKRAM KHANNA - Giving pride of place to spending cuts is wrong-headed COMMENTARY VIKRAM KHANNA Associate Editor THE eleventh hour deal to raise the US debt ceiling cobbled together by feuding lawmakers in Washington over the weekend has been received with a knee-jerk cheer from the649 words
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515 2011-08-02 2 MICHELLE QUAH - By MICHELLE QUAH [SINGAPORE] Singapore’s national regulator for corporate and business entities has, for the first time ever, published a handbook for directors of companies. Written from a regulator’s perspective, the Accounting and Corporate Regulatory Authority’s (Acra) handbook spells out in detail a director’s515 words
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Article, Illustration525 2011-08-02 2 MALMINDERJIT SINGH - By MALMINDERJIT SINGH [SINGAPORE] The twin natural disasters that hit Japan in March this year have led to an outflow of investment from the country. Speaking to BT, Yoichi Suzuki, Japan’s ambassador to Singapore, confirmed that the devastating earthquake and tsunami hasFILE PHOTO - 525 words
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Article, Illustration819 2011-08-02 3 S JAYASANKARAN - Proposal involving Tanjong’s gaming unit needs only one more regulatory nod By in Kuala S JAYASANKARAN in Kuala Lumpur MALAYSIA’S first earn-ings-recurrent charity for education stands one regulatory approval away from being created. Jana Pendidekan Malaysia, whose profits will be channelled to a charitable819 words
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423 2011-08-02 3 LEE U-WEN - By LEE U-WEN [SINGAPORE] It will be a day of several firsts when the new term of parliament begins on Oct 10, some six months after the House was dissolved ahead of the May 7 general election. This will be the first time423 words
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392 2011-08-02 3 JOYCE HOOI - By JOYCE HOOI [SINGAPORE] The final round went to the Japanese yesterday as International Container Terminal Services Inc (ICTSI) withdrew its bid for Portek International in the face of Mitsui Co’s higher one. “We have conducted our offer in a manner that is392 words
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Page 2 Advertisements
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Advertisement38 2011-08-02 2 This announcement appears as a matter of record only. HOUSING DEVELOPMENT BOARD S$400,000,000 1.005% Notes due 2014 issued under HDB's S$12,000,000,000 Multicurrency Medium Term Note Programme Lead Manager Deutsche Bank AG, Singapore Branch m Deutsche Bank August 201138 words
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Advertisement161 2011-08-02 3 A CUT ABOVE SOPHISTICATION KM m ■iJ0- r I E k £kift v A V V* A S \V S£ v-Vr Ss v. I e RARE ESSENTIALS From /eft; enVie de Pois, Boucheron, Dsquared 2 Richard Mille, enVie de Pois, Chaumet, Giorgio Armani, IWC Schaffhausen Boutique, enVie de Pois, Harry161 words
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COMPANY NEWS
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474 2011-08-02 4 JOYCE HOOI - Convertible bond investment from KKR By JOYCE HOOI WATER treatment firm United Envirotech Limited’s (UEL’s) share price soared more than 12 per cent in trading yesterday on news of its US$113.8 million convertible bond investment from United States fund, Kohlberg Kravis Roberts Co LP474 words
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Article, Illustration447 2011-08-02 4 FELDA CHAY - But many say it’s too early to make judgement; easier to respond to news flows, says SGX By FELDA CHAY CONTINUOUS, all-day trading was off to a lacklustre start yesterday, with trading volumes over the abolished lunch break accounting for about 7 per centBLOOMBERG - 447 words
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321 2011-08-02 4 Renewal, new leases at Atrium@Orchard; JCube shop lease for SingTel unit CAPITAMALL Trust (CMT) has entered into office leases with Temasek Holdings and its wholly owned subsidiary Fullerton Fund Management Company, for an aggregate consideration of around $221.8 million. Temasek is currently321 words
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380 2011-08-02 4 NISHA RAMCHANDANI - It will then make offer for another 41.83% stake at 50 cents a share By NISHA RAMCHANDANI JAPANESE pharmaceutical group Shionogi Co is acquiring a 24.17 per cent stake in China-based C&O Pharmaceutical Technology for about $80.2 million, having entered into an agreement380 words
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248 2011-08-02 4 Net profit of 8.48m yuan against loss of 8.89m yuan loss in H1 2010 ZHONGMIN Baihui Retail Group, whose stock price spiral was the subject of a Singapore Exchange query earlier this year, yesterday posted a net profit of 8.48 million248 words
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299 2011-08-02 4 NISHA RAMCHANDANI - By NISHA RAMCHANDANI BUDGET carrier Tiger Airways’ Australian operations will remain suspended till at least tomorrow after a court hearing between its Australia unit and the Civil Aviation Safety Authority of Australia (CASA) was postponed from yesterday to tomorrow. “Tiger Airways299 words
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Article, Illustration286 2011-08-02 4 Jointly brought to you by The Business Times and Singapore has made remarkable achievements in its economic progress since independence in 1965, in tackling unemployment, housing, education and other social issues. The government’s foresight and long-term strategy to transform Singapore from an entrepot trading outpost to a286 words
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388 2011-08-02 5 WINSTON CHAI - By WINSTON CHAI CEREBOS Pacific’s secondquarter net profit fell 20 per cent to $16.2 million, from $20.3 million last year, as higher operating costs weighed down its bottom line. Earnings per share for the three months ended June 30 fell to 5.13388 words
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Article, Illustration568 2011-08-02 5 Citi says loan growth is outpacing deposit growth for Singapore banks BANKS in Singapore are still flush with deposits, though loan growth is outpacing deposit growth and the system’s loan-to-depos-it ratio (LDR) could return to the 90 per cent range in Q3BLOOMBERG - 568 words
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377 2011-08-02 5 SAMUEL EE - By SAMUEL EE YHI International Ltd has sold its entire stakes in a Hangzhou tyre factory and a Shanghai tyre distribution business to Yokohama China for about $22.34 million. The Singapore-based distributor of tyres, alloy rims and batteries is377 words
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427 2011-08-02 6 LYNN KAN - Poorer turnover at dry bulk shipping, shipyard operations; higher income tax By LYNN KAN COSCO Corporation took a 53 per cent hit to its Q2 net profit attributable to equi-ty-holders, sinking to $31.86 million from $68.38 million a year ago. The Chinese shipbuilder427 words
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280 2011-08-02 6 WINSTON CHAI - Firm says substance of auditor report not altered By WINSTON CHAI DARCO Water Technologies has rebuked LTC LPP for asserting that its findings were omitted from the firm’s annual report, saying the latter’s grouse appears to stem from the fact that its audit280 words
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Article, Illustration758 2011-08-02 6 ASPECIALSERIES BROUGHTTOYOU BYSHAREINVESTOR AVI-TECH Electronic Limited’s (“Avi-Tech’s”) winning formula can be summed up in CEO Mr Lim Eng Hong’s assessment of his company’s competitive edge, “The Avi-Tech brand carries weight within the industry and among758 words
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Article, Illustration566 2011-08-02 6 Sim Siang Choon LimitedLoyz Energy is all ready to seek new concessions in Asia Pacific SIM Siang Choon, soon to be renamed Loyz Energy Limited (Loyz Energy or Group) has mapped its plans to build a reputation as an up-and-coming player in oil gas exploration and production (“E&P”) across the566 words
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Article200 2011-08-02 6 6-month and Q2 results ended June 2011 6 months ended June 2011 NET PROFIT (S$M) TURNOVER (S$M) COMPANY CURRENT PREVIOUS CHG CURRENT PREVIOUS CHG 3 months ended June 2011 NET PROFIT (S$M) TURNOVER (S$M) CURRENT PREVIOUS CHG CURRENT PREVIOUS CHG Wheelock 89.35 133.90 -33.3 170.42 283.89 -40.0200 words
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438 2011-08-02 6 KALPANA RASHIWALA - By KALPANA RASHIWALA WHEELOCK Properties (Singapore) has posted a 55.7 per cent year-on-year drop in net profit for the quarter ended June 30, 2011, to $37 million, on the back of a 61.8 per cent decline in revenue to $67.6 million. Net profit438 words
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Advertisement125 2011-08-02 5 SIM proudly presents World-Renowned Management Thinkers to Singapore 26 August 2011 (Friday) 9 am 4 pm Shangri-La Hotel, Singapore Seats are filling fast! Hurry, book your seat now! with Soar Management Excellence Keynote 1 The Human Capitalisation Challenge Keynote 2 The Entrepreneurial Profile Malcolm Gladwell Ranked Number Two on Thinkers125 words
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Advertisement158 2011-08-02 5 (■HHnfe ii«. 'lu, ■■■■IN! 1 0 World's Finest Serviced Offices A cost effective Serviced Office solution Best address, best receptionist, best IT and support Flexible lease terms starting from one month For less than the cost of a secretary We help businesses succeed W servcorp.com.sg Or Google "Servcorp' HSERVCORP Servcorp158 words
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Advertisement146 2011-08-02 7 THE STRAITS TIMES Print. _SXILAi i i'/ 4. Online. <T* 7 4 "*S ow, your favourite paper comes l- J t^at brings y OU i I a new *w KIN App that brin< the full print edition*. st Free Trial Valid from now till 7 Sept 2011 Download at App146 words
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SINGAPORE MARKETS
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Article, Illustration603 2011-08-02 8 R SIVANITHY - ST Index rises 26 points and goes into positive territory for the year to date STOCKS R SIVANITHY Senior Correspondent NEWS that the US debt ceiling may finally be raised a not wholly unexpected development, it has to be said yesterday pushed theSource: Bloomberg - 603 words
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Article186 2011-08-02 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 11 5 1 0 0 0 11 5 1 Manufacturing 65 45 53 9 3 10 74 48 63 Commerce 24 19 16 7 2 2 31 21 18 Tpt/Stor/Comms 22 16 6186 words
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Article123 2011-08-02 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 26,595 26,595 80,155 80,155 Manufacturing 227,110 14,895 242,005 217,102 1,197 218,298 Commerce 78,533 5,035 83,568 125,625 1,463 127,088 Tpt/Stor/Comms 213,019 3,097 216,116 410,806 390 411,196 Finance 27,964 1,089 29,053 299,899 275 300,174 Construction 59,915 96,859123 words
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Article112 2011-08-02 8 Stock name Close Change CapMallsAsia 1.430 -0.005 CapitaLand 2.920 +0.020 CapitaMall 1.900 +0.015 CityDev 10.800 +0.240 ComfortDelGro 1.440 +0.005 DBS Grp 15.580 +0.050 F&N 6.080 +0.080 GLP 2.000 -0.020 Genting SP 1.940 +0.040 Golden Agri 0.740 +0.010 HK Land 6.970 +0.250 JMH 56.200 -1.110 JSH 32.160112 words
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Article66 2011-08-02 8 Aug 1 VALUE CLOSE BT OB/OS 553.00 +306.0 BT CADI -*****.00 +119.0 BT 10-day MA -*****.00 +55.00 FTSE ST Mid Cap 742.19 +0.66 FTSE ST Small Cap 527.39 +3.53 FTSE ST All Share 780.71 +5.40 FTSE ST China Top 249.86 -0.01 FTSE ST China 293.44 +3.32 FTSE66 words
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Article60 2011-08-02 8 VOLUME Genting SP 95,528,000 Golden Agri 93,814,000 Progen 90,659,000 Cosco Corp 59,602,000 SingTel 34,819,000 Wee Hur 34,143,000 *Genting HK US$ 31,167,000 Yangzijiang 28,653,000 HPH Trust US$ 27,340,000 Uni Envtech 23,615,000 VALUE($) Genting SP 184,775,107 SingTel 117,849,760 Cosco Corp 102,738,895 DBS Grp 96,389,828 SIA 82,828,620 UOB 81,953,447 OCBC60 words
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BROKERS’ TAKE
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Article, Illustration402 2011-08-02 8 Aug 1 close: $0.40 OCBC INVESTMENT RESEARCH, Aug 1 MARCO Polo Marine Ltd (MPM) is a growing integrated marine logistics group with two main business divisions: ship chartering and transhipment services and shipbuilding and repair. Serving the energy sector in Indonesia and the region, its operations areSource: Bloomberg - 402 words
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Article, Illustration482 2011-08-02 8 JOYCE HOOI - Compiled by JOYCE HOOI Aug 1 close: $0.88 CIMB RESEARCH, Aug 1 IN line; maintain “outperform”. Q3 2011 distribution per unit (DPU) of 1.38 cents meets our forecast and Street expectation at 24 per cent of our FY2011 figure. 9M 2011 DPU forms 74 per cent ofSource: Bloomberg - 482 words
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Article, Illustration472 2011-08-02 8 CURRENCIES Reuters [LONDON] The US dollar rallied against the yen and the Swiss franc yesterday as investors unwound safe haven plays on expectations US lawmakers would pass a deal to raise the country’s borrowing limit, averting the risk of an immediate default. Investors coveredReuters; BLOOMBERG - 472 words
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Article121 2011-08-02 8 BY CENTS CLOSE UP DBXT MSKorea 10US$ 6577 192.1 2.5 DBXT Nifty 10US$ ***** 174.1 1.1 DBXT MSAsExJp 10US$ 3476 103.3 2.5 Jardine C&C 4934 98.0 2.0 DBXT E50 10US$ 4325 96.1 1.9 GLD 10US$ ***** 72.0 0.4 DBXT FTChina25 10US$ 3171 66.0 1.8 DBXT MSJAP 10US$ 4044 56.4121 words
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Article117 2011-08-02 8 BY CENTS CLOSE DOWN JMH 5620-133.3 -1.9 DBS Bk 4.7% NCPS 100 *****-114.0 -1.1 DBXT SPASX200 10US$ 3618 -74.4 -1.7 JSH 3216 -69.6 -1.8 DBXT AUD Bonds 5AU$ ***** -68.9 -0.3 DBXT MSEurope 10US$ 4820 -64.8 -1.1 DBXT FTVietnam 10US$ 2679 -54.0 -1.7 DBXT S&P Short 10US$ 4255 -21.6117 words
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SINGAPORE NEWS
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Article, Illustration552 2011-08-02 9 LYNN KAN - Move makes business sense, says Businesses for Families Council By LYNN KAN IT wasn’t too long ago that long-suffering husbands had to stand around while their wives browsed in stores or that children had no choice in restaurants but to pick somethingFILE PHOTO - 552 words
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209 2011-08-02 9 THE Agri-Food and Veterinary Authority (AVA) launched a second tranche of $10 million under its Food Fund programme yesterday. Several changes were introduced to develop farm capability. Apart from continuing to co-fund research and development (R&D) in local food farming technology, AVA introduced209 words
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SINGAPORE ROUNDUP
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79 2011-08-02 9 SINGAPORE has retained its position as Asia’s top convention city for almost a decade, according to the latest global rankings by the International Congress and Convention Association (ICCA). In addition, Singapore has maintained its spot as one of the top five convention cities alongside79 words
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72 2011-08-02 9 PANASONIC will begin a first-of-its-kind test-bed of total energy solutions in Singapore. The project will see Panasonic utilise and integrate its energy creation, storage and saving solutions at Punggol Eco Town, an existing public residential building, to realise a greener lifestyle. Among other things,72 words
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88 2011-08-02 9 THE Association of Corporate Travel Executives’ (ACTE) 2011 Asia-Pacific Education Conference will convene more than 500 global business travel buyers and sellers for the conference’s 10th anniversary. The conference will be held tomorrow and on Thursday at Shangri-La Hotel. The ACTE is a non-profit organisation88 words
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82 2011-08-02 9 THE world’s leading advocates of global entrepreneurship will address the World Entrepreneurship Forum in Singapore on Nov 2-5, Nanyang Technological University (NTU) and the Action Community for Entrepreneurship Singapore (ACE) announced yesterday. With members from 70 different countries, the World Entrepreneurship Forum serves as a82 words
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Article, Illustration461 2011-08-02 10 SAMUEL EE - CCL will relieve crowding along N-S and E-W lines by about 10-15% By SAMUEL EE THE remaining 12 stations on the Circle Line will open for service on Oct 8, while capacity along the North-South and East-West MRT Lines willALPHONSUS CHERN/THE STRAITS TIMES - 461 words
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362 2011-08-02 10 LYNN KAN - By LYNN KAN THREE in four of Singapore’s Gen X and Gen Y are happy to pay at or above market price for a life insurance plan. Yet only 19 per cent would actually consider taking out life insurance362 words
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224 2011-08-02 10 THE National Parks Board (NParks) and Land Transport Authority (LTA) held a groundbreaking ceremony late last week for Eco-Link@BKE, South-east Asia’s first ecological corridor that will connect two nature reserves over the Bukit Timah Expressway (BKE). The Eco-Link is part of Singapore’s efforts to conserve224 words
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480 2011-08-02 10 MALMINDERJIT SINGH - Japanese envoy sees collaboration in areas like water mgt By MALMINDERJIT SINGH SINGAPORE is the nerve centre of South-east Asia because of its openness and excellent infrastructure, said Yoichi Suzuki, Japan’s ambassador to Singapore. “Japan-Singapore relations are on a good track, especially in traditional480 words
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Article, Illustration301 2011-08-02 10 SENTOSA registered an 18 per cent increase in overall island visitorship, with 9.2 million guests arriving on the island in the first half (H1) of 2011, compared to the same period last year. Outside of Resorts World Sentosa (RWS), locals madeFILE PHOTO - 301 words
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344 2011-08-02 10 THE credit information of individuals will now be made available with a new service from the Singapore Commercial Credit Bureau (SCCB). Previously, the SCCB offered access only to the credit history database of local enterprises. Established in 2005, the SCCB344 words
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Page 9 Advertisements
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Advertisement14 2011-08-02 9 Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your IPOs other offerings MATS14 words
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Advertisement96 2011-08-02 9 ur Grow with y fast growing 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 put96 words
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Advertisement1318 2011-08-02 10 BEATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF UNILOC (SINGAPORE) PRIVATE LIMITED (IN MEMBERS'VOLUNTARY LIQUIDATION) CO. REG. NO. *****7059G Extract of the Minutes of the Extraordinary General Meeting of UNILOC (SINGAPORE) PRIVATE LIMITED signed by the Representative of the Holding Company pursuant1,318 words
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Page 11 Advertisements
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Advertisement508 2011-08-02 11 SALUTING OUR VERY 27 July 2011 was a night of honour for 467 employers and civil resource owners who gave their wholehearted support to the Total Defence of Singapore. At the Total Defence Awards (TDA) Presentation Ceremony Gala Evening held at Shangri-La Hotel, Minister for Defence, Dr Ng Eng Hen508 words
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ECONOMY WATCH
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844 2011-08-02 12 Debt loads threaten growth as Brazil, India, China rates rise to fight inflation Bloomberg [LONDON] Banks in the biggest emerging markets are losing the confidence of investors as loans turn sour after a two-year credit binge. Brazil’s financial shares haveBloomberg - 844 words
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827 2011-08-02 12 Bloomberg [NEW YORK] Investors seeking protection from the sovereign debt crises roiling Europe and the US are targeting corporate bonds, driving returns last month to the highest levels in almost a year. Company debt from US to Europe to Asia returned 1.8 per centBloomberg - 827 words
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384 2011-08-02 12 Bloomberg [SYDNEY] A gauge of Australian manufacturing slumped to a two-year low last month as a surging currency and the highest borrowing costs in the developed world hurt demand at home and abroad. The manufacturing index dropped to 43.4 in July, the lowestBloomberg - 384 words
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Article, Illustration465 2011-08-02 12 Xinhua [SEOUL] South Korea posted a record trade surplus of US$7.2 billion in July despite the local currency’s appreciation against the greenback and economic slowdown in advanced nations, a government report showed yesterday. The figure is sharply up from the US$2.8Xinhua; REUTERS - 465 words
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Article, Illustration556 2011-08-02 12 AFP [NEW YORK] If there’s one place a James Bond villain or even some actual governments would love to raid, it’s the basement of a sombre building in lower Manhattan: the world’s biggest gold vault. Gold prices hit a record US$1,632.80AFP; NYT - 556 words
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Advertisement28 2011-08-02 12 RECUPERATE Sleep On Waveless Waterbeds German Ingenuity That Heals While You Sleep EverRest FANTASY WATERBEDS SLEEP CENTRE #01-15/16 The Furniture Mall (The Plaza) 7500D Beach Road Tel: 6469-138128 words
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MALAYSIA/INDONESIA
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Article, Illustration616 2011-08-02 13 But analysts see rate hike by year-end as price pressures are expected to pick up Reuters [JAKARTA] Indonesia’s annual inflation rate dropped below 5.0 per cent in July for the first time in 14 months, signalling that the central bank is likelyReuters; REUTERS - 616 words
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468 2011-08-02 13 PAULINE NG - By PAULINE NG in Kula Lumpur IOI Corporation’s acquisition of slightly under 12,000 hectares of plantation land in Sabah for RM830 million (S$337 million) is unlikely to yield meaningful returns in the short term until the underperforming estates are rehabilitated, analysts said468 words
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230 2011-08-02 13 AFP [KUALA LUMPUR] Malaysia launched an amnesty for nearly two million illegal foreign workers yesterday but a labour group condemned the exercise as vague and leaving migrants vulnerable to being cheated. During the six-month programme, foreign workers mainly from Indonesia, Bangladesh and India willAFP - 230 words
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Advertisement166 2011-08-02 13 GET CONNECTED, STAY CONNECTED PREMIER CLUB MEMBERSHIP YOUR GATEWAY TO A WORLD OF BENEFITS TRANSFERABLE EXCLUSIVE 1 kS jm Mil M 4U* >!*** fM i, .«\Y\ V//,.: w /MEM ♦A w MEMBERSHIP from itzn r r* $750 I—55 AFTER 9 AUGUST $2,000 12 -sr. ii OPEN TO ALL DIPLOMA DEGREE166 words
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GREATER CHINA/INDIA
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Article, Illustration526 2011-08-02 14 Rate rise and credit crunch have not yet caused a slowdown Bloomberg [BEIJING] A Chinese manufacturing index was higher than economists estimated in July, signalling the world’s second-biggest economy is withstanding increased interest rates and tightened credit. The Purchasing Managers’ Index was at 50.7Bloomberg; REUTERS - 526 words
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380 2011-08-02 14 Bloomberg [NEW DELHI] Morgan Stanley and the Indian Prime Minister’s Economic Advisory Council cut their estimates for the country’s economic growth yesterday after the central bank raised interest rates the most among major Asian economies. India’s economy may expand 7.2 perBloomberg - 380 words
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595 2011-08-02 14 Beijing needs tax reform to break vicious circle of mounting bad loans Reuters [BEIJING] A mountain of debt held by local governments in China has exposed the fundamental flaws of its fiscal structure, which will need to be fixed to helpReuters - 595 words
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Page 14 Advertisements
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Advertisement290 2011-08-02 14 (SEEK THE ACCLAIM YOUR BRAND DESERVES SINGAPORE PRESTIGE BRAND AWARD 2011 Like the everlasting appeal of gold, a good Brand withstands the test of time and the arduous challenges of the external environment. In the global economy, Brands need to continually establish a distinct identity and have a strong footprint290 words
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WORLD
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Article, Illustration543 2011-08-02 15 Move expected to draw rival suitors, including Xstrata, BHP, Rio Tinto Reuters [SYDNEY] Peabody Energy and ArcelorMittal launched a hostile A$4.7 billion (S$6.2 billion) bid for Macarthur Coal after the Australian company’s board said their approach undervalued its resources of the key steelmakingReuters; REUTERS - 543 words
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598 2011-08-02 15 [NEW YORK] When magazine publishers began pouring their resources and hopes into the iPad, their thinking was that readers wanted something substantially more than just words on a screen. A simple PDF of a page just would not do. The app had to dazzle the598 words
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322 2011-08-02 15 Bloomberg [SYDNEY] Apple Inc has escalated a patent dispute with Samsung Electronics Co and won an agreement that the South Korean company won’t sell the newest version of its tablet computer in Australia until a lawsuit is resolved. The Samsung Galaxy TabBloomberg - 322 words
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697 2011-08-02 15 Bloomberg [LONDON] Profits at European companies are trailing analyst estimates by the most in at least five years, dragged down by manufacturing shares that had been forecast to lead a rally in the second half of the year. About 53 per cent of companies inBloomberg - 697 words
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207 2011-08-02 16 Reuters [LONDON] More than 200,000 university applicants in Britain will fail to get places this year, the head of the admissions service said in an interview with the Independent newspaper published yesterday. The chief executive of University and College Admissions Service (Ucas), MaryReuters - 207 words
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Article, Illustration660 2011-08-02 16 It beats market expectations of a loss in wake of parts supply disruption Reuters [TOKYO] Honda Motor Co avoided an expected loss and raised its annual profit outlook by more than a third yesterday after it reported a 90 per cent fall in quarterly operatingReuters; AFP - 660 words
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411 2011-08-02 16 It reports a better than expected US$11.5b H1 profit Reuters [LONDON] HSBC will shed 30,000 jobs as it retreats from countries where it is struggling to compete, Europe’s biggest bank said yesterday after it reported a surprise rise in first-half profit. SharesReuters - 411 words
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572 2011-08-02 17 June construction spending rises for third month but remains depressed LATEST US DATA Reuters AP [WASHINGTON] US manufacturing grew at its slowest pace in two years in July as new orders contracted, a troubling development for the faltering economy. The Institute for SupplyReuters; AP - 572 words
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Article, Illustration387 2011-08-02 17 AFP [BANGKOK] Thailand’s new Parliament officially opened yesterday, faced with the daunting challenge of bringing stability to the kingdom after five years of political turmoil. Crown Prince Maha Vajiralongkorn presided over the elaborate opening ceremony in the capital Bangkok inAFP; XINHUA - 387 words
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Article, Illustration660 2011-08-02 17 Stocks witness relief rally after last week’s slump AFP AP Bloomberg Reuters [LONDON] Global stock markets rallied yesterday as investors welcomed news of a last-minute deal to raise the US debt ceiling and avoid a disastrous default of the world’s biggest economy. US stocksAFP; AP; Bloomberg; Reuters - 660 words
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540 2011-08-02 17 Bloomberg [LONDON] Spanish and Italian government bonds risk getting sucked into the spiral of higher borrowing costs and subsequent credit rating downgrades that helped drive Greece, Ireland and Portugal to requests for external aid. Moody’s Investors Service last week put Spain’s Aa2Bloomberg - 540 words
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302 2011-08-02 17 Bloomberg [NEW YORK] Eastman Kodak Co, the camera company whose shares have dropped 55 per cent this year, implemented a shareholder-rights plan to protect against a possible takeover. Investors as of Aug 11 will receive one preferred share purchase right for each shareBloomberg - 302 words
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792 2011-08-02 18 International banks’ revenue to be hit further as bank bond issues shrink Reuters [SYDNEY] Global investment banks are losing market share to local rivals in underwriting fees in the annual US$150 billion Australian bond market and their revenue will be further hit asReuters - 792 words
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Article, Illustration594 2011-08-02 18 Reuters [BERLIN] Switzerland and Germany will sign a deal to regularise untaxed money stashed in secret Swiss bank accounts on Aug 10, media in the two countries reported on Sunday. Strict banking secrecy, which helped Switzerland build a multi-trillion-dollar offshore banking industry, hasReuters; REUTERS - 594 words
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Article, Illustration441 2011-08-02 18 Bloomberg [TOKYO] Japan has banned cattle shipments from Iwate prefecture, the nation’s fifth-largest producer, as the contamina-ted-beef crisis widened with radiation threatening the country’s food supply. The government banned shipments last month from Miyagi and nearby Fukushima prefecture, where radiation from aBloomberg; REUTERS - 441 words
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430 2011-08-02 18 Bloomberg [LONDON] Deutsche Boerse AG’s takeover of NYSE Euronext would create a “near monopoly” whose power should be curbed, a group representing traders has told the European Union. Regulators “need to mitigate, where possible, the increased market power of the merged entity”, theBloomberg - 430 words
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Advertisement196 2011-08-02 15 I ■H Call Ms'Serene:' *****080 M BestValue! Holland ***** 8000 ask $2oM Binjai ***** /***** ask $22.8M *****/5000 ask$i8.8M Chancery ***** 9000 ask $2xM Cluny ********** ask $28.5M 60-YEAR LEASEHOLD PREMIUM RAMP-UP FACTORY IN YISHUN <3 O 9 o\o Of x Si\4 4 a, 1 II VII LA. 'O »a&>196 words
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Advertisement43 2011-08-02 16 "tall —about. [Trust Just as you rely on your surgeon to achieve the best results, you can turn to The Straits Times as a trusted source of news, views and reviews. T 4 ■y'i ml N J THE STRAITS TIMES. A publication of43 words
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Page 18 Advertisements
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Advertisement15 2011-08-02 18 SINGAPORE 8PM LIVE IN 11 August 2011 WIN EXCLUSIVE TICKETS ON 91.3FM PRESENTED BY www.midaspromotions.com15 words
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Advertisement42 2011-08-02 18 www.o BIHCAPOHE AWARDS my.sg [Q 'V- I 1. GTOu^ificS tt&k I 1 WWtfJ* D to shark's fin soup! y no rm ro< b« ,ef c CrWbraci CUM— N•" lo, augM"* on Sond With No Slurfc Fin Soup. 5HJRE IKK jroup *«< ifi VS42 words
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Advertisement18 2011-08-02 18 Brand Your Assets Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your y Financial s Statements 218 words
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AVIATION
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Article, Illustration469 2011-08-02 19 VEN SREENIVASAN - Indian carrier fails to meet stipulated conditions as set out in 2007 agreement By VEN SREENIVASAN [SINGAPORE] Star Alliance has rejected Air India’s bid for membership on the grounds that the Indian state-owned carrier has not met the group’s ”minimum joining conditions”.AP - 469 words
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406 2011-08-02 19 He’ll use own funds to end spat between Bangkok and Berlin Bloomberg [BANGKOK] Thailand’s Crown Prince Maha Vajiralongkorn will use his personal funds to recover an airplane that was seized by German liquidators in Munich last month as part ofBloomberg - 406 words
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510 2011-08-02 19 DAVID ELIATHAMBY - By DAVID ELIATHAMBY The writer is an airline pilot [SINGAPORE] The burden has finally lifted, the frowns erased. The protracted negotiations are finally over. The threat of an industrial showdown has been averted. Both parties walked away happy but less510 words
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Article, Illustration473 2011-08-02 19 Reuters [PARIS] EADS is poised to step up a recent buying spree with a space industry acquisition in Europe that could rank among its biggest efforts to expand, sources familiar with the matter said on Sunday. The acquisition marks the latest moveReuters; BLOOMBERG - 473 words
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740 2011-08-02 19 A Caribbean Airlines plane had skidded off its runway AP [GEORGETOWN, Guyana] The airport where a Caribbean Airlines jet skidded off a rain-slicked runway and broke apart is upgrading systems that help pilots to land, but all the new systems weren’tAP - 740 words
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Page 19 Miscellaneous
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Miscellaneous341 2011-08-02 19 CRYPTIC CROSSWORD Across 1 Outlet for a target surrounded by ships (4,6) 6 Beat record after a touch of finesse (4) 10 Fat police informer gets time for name (5) 11 Too enthusiastically concerning love in poet (9) 12 Words to score for party animal making a comeback (8) 13341 words
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Article2956 2011-08-02 20 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 JIMFLUSH Muscat/Sharjah/Doha *Loads2,956 words
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Advertisement28 2011-08-02 20 Experienced Slflfp maintenance services wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES SHIPPING TIMES28 words
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SHIPPING
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Article, Illustration688 2011-08-02 21 Brightoil says new terminals will help capture a third of S’pore market Bloomberg [SHANGHAI] China may capture almost a third of Singapore’s bunker market in three years as it expands terminals to handle more large tankers, according to Brightoil Petroleum Holdings, a HongBloomberg; FILE PHOTO - 688 words
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Article278 2011-08-02 21 SGX '000 Aug 1 S$ +/-Vol CH Offshore 0.42 unch 22 Chuan Hup Hldg 0.26 0.01 1488 Cosco Corp 1.70 -0.09 ***** CWT Ltd 1.31 0.02 567 Ezra Hldgs 1.25 -0.01 6832 First Ship Lea 0.35 unch 168 Freight Links 0.06 unch 365 Grand Banks unch unch 0278 words
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523 2011-08-02 21 Reuters [SINGAPORE] Malaysia’s government has ordered seven floating storage facilities with a capacity to hold about 1.9 million tonnes of crude or fuel oil anchored off the south-eastern port of Pasir Gudang to leave by the end of this month, industry sources saidReuters - 523 words
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Page 21 Advertisements
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Advertisement19 2011-08-02 21 FREIGHT FORWARDER urgently needed by shippers Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 132719 words
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Advertisement482 2011-08-02 21 SEA CONSORTIUM PTE LTD NOTICE TO TRADE RATE RESTORATION FOR SINGAPORE/PORT KLANG CHENNAI/VIZAG TRADE In view of the overall increase in the operating costs which we can no longer absorbed by ourselves, we have no option but to impose the following Rate Restoration with effect from 15th August 2011:Singapore/Port Klang482 words
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EDITORIAL & OPINION
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489 2011-08-02 22 EDITORIAL THE latest quarterly survey of the aviation industry done last month shows global airline executives much more upbeat on profitability than they were in April. According to the International Air Transport Association (Iata), which conducted the survey, lower confidence in April was due489 words
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Article, Illustration779 2011-08-02 22 J. BRADFORD DELONG - THE BOTTOM LINE J. BRADFORD DELONG J Bradford DeLong, a former assistant secretary of the US Treasury, is professor of economics at the University of California at Berkeley and a research associate at the National Bureau for Economic Research IT IS779 words
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Article, Illustration1219 2011-08-02 22 SIMON JOHNSON - Lower capital requirements in the financial system pose a major fiscal risk By SIMON JOHNSON Simon Johnson, who served as chief economist at the International Monetary Fund in 2007 and 2008 and is now a Massachusetts Institute of Technology professor andBLOOMBERG FILE PHOTO - 1,219 words
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Article, Illustration1296 2011-08-02 23 LEON HADAR - The immature way Congress and the White House handled the process shows them both in a most unflattering light LEON HADAR Washington Correspondent THE credit-rating agencies in New York had put the US government on notice that it might lose its “AAA” debtAFP - 1,296 words
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Article, Illustration740 2011-08-02 23 LEE KUAN YEW - By LEE KUAN YEW The writer is a former prime minister of Singapore. This article first appeared in Forbes in its Current Events column FOR over half a century since the end of the Korean War in 1953 and the Vietnam WarAFP - 740 words
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SINGAPORE STOCKS
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Article8341 2011-08-02 24 Transaction date: Aug 1 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 21 13.2 8Telecom 15 unch 712 15 15 15 15.5 7.8 4.1 3.1 71.8 12 4.5 A-Sonic 6.9 +0.1 1098,341 words
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Article1594 2011-08-02 25 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 34 20 t 800 Super 22 unch 6742 23 22 22 22.5 7.6 39.3 5.5 3.7 t AA Grp 3.7 3.6 4 17.6 3.61,594 words
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Article9955 2011-08-02 25 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.38/ APS Alpha Fund (USD)!** 1.14/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM -Talents Fund 0.7/ Aberdeen Asset Mgt Asia Limited American Opp 0.6217/ Asian Credit Fund9,955 words
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Article226 2011-08-02 25 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 34 AVJennings A43 42.5 49 3.6 8.1 3.4 112 55 24.5 Genting HK US$ US45.5 +2 ***** 46 44 45 45.5 2996 21 10 OGL Resources226 words
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Article895 2011-08-02 25 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124 108 ABF SG Bond ETF 116 114 117 529.5 1207 890 CIMBAsean40 100US$ US1128 +9 1 1128 1125 1132 1138 45.1 350 290 DBS STI895 words
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FINANCE & COMMODITIES
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374 2011-08-02 26 In local curr In S$ In US$ dy yr dy yr dy yr Jul 29 Index Change Change Change Change Change Change World Index Preliminary 889.2 -0.5 -0.9 -0.1 -3.9 -0.3 2.3 EAFE Preliminary 759.2 -0.8 -5.2 -0.1 -4.8 -0.3 1.3 Europe Preliminary 1117.1 -0.9374 words
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Article77 2011-08-02 26 CRUDE OIL PRODUCTS Jul 29 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 116.41 -2.16 WTI (Near Mth) 95.96 -1.27 Dubai (1-Mth F) 111.43 -0.70 Tapis blend 121.78 -1.17 Minas 117.78 -1.17 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 108.83 -0.64 Jet Kerosene 130.55 -0.70 US$/barrel Opec Oil77 words
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Article137 2011-08-02 26 Aug 1 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Sep 11 487.4 487.4 487.4 1 394 Oct 11 419 Nov 11 430 Dec 11 533 Jan 12 259 Feb 12 194 Mar 12 159 Apr 12 128 May137 words
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Article, Illustration66 2011-08-02 26 As on 29 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 CURRENCY Euro-US Dollar Sep-11 1.4377 1.4213 1.4334 1.4286 Euro-US Dollar Cash Sep-11 1.4326 1.4326 1.4369 1.4282 GBP-US Dollar Sep-11 1.6381 1.6378 1.6449 1.631466 words
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Article121 2011-08-02 26 As at 9am Aug 01 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.369 1.292 Can dollar 1.286 1.237 Euro 1.76 1.693 Sterling pound 2.015 1.938 NZ dollar 1.089 1.038 US dollar 1.218 1.172 Local dollars to 100 units of foreign121 words
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Article180 2011-08-02 26 Aug 1 $S Offer Bid 0vernight 0.05 0.03 1-month 5/16 1/16 2-months 3/8 1/8 3-months 7/16 3/16 Overnight mode: 0.03 US$ Offer Bid 7 days 0.25 0.15 1 month 0.30 0.20 2 months 0.35 0.25 3 months 0.42 0.32 6 months 0.54 0.44 9 months 0.75 0.55 12180 words
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Article107 2011-08-02 26 Jul 29 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Aug 11 1354.25 1367.75 1373.75 1349.00 Sep 11 1348.50 1362.50 1368.50 1343.50 Nov 11 1357.25 1371.50 1377.75 1351.50 Jan 12 1368.25 1382.00 1386.50 1362.00 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Aug 11 55.65107 words
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Article83 2011-08-02 26 Aug 1 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****V 03.11.2011 0.22 0.19 0.19 1-Year BY*****X 02.05.2012 0.27 0.15 0.15 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 103.91 103.95 103.95 5-Year N*****0W 1.12583 words
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Article448 2011-08-02 26 Aug 1 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Sep11 99.6500 0 3463 Dec11 99.5350 0 3150 Mar12 99.4900 0 1711 Jun12 99.4400 0 2034 EUROYEN TIBOR FUTURES Sep11 99.6600 0 1176 Dec11 99.6600 0 1478 Mar12 99.6575 0 1823 Jun12 99.6550 0 1374 Sep12 99.5850448 words
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Article29 2011-08-02 26 Aug 1 Open High Sett STI Aug 3200 3200 3177 SIMSCI Aug 364.8 371.0 369.1 Taiwan Aug 299.9 305.0 302.7 Source: MF Global (S) Pte Ltd29 words
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2465 2011-08-02 26 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 22.5 1 150 35 5.69 33 ASJ Hldgs W*****1 0.5 1 4 7 8.40 6 AlliedTech W*****2 1.7 1 4 27 Asia Water Tech Ltd W*****8 2.6 unch2,465 words
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Article462 2011-08-02 26 Aug 1 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.050 7.104 0.767 8.601 48.661 93.431 0.856 11.594 3.250 1.252 95.755 46.277 1.326 7.369 0.875 31.810 32.799 0.671 1.104 Canada 0.952 6.762462 words
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Article85 2011-08-02 26 Aug 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$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths85 words
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Article138 2011-08-02 26 Aug 1 GOLD (US$/oz) Jul 29 Aug 01 Hong Kong 1613.50 1617.00 Jul 28 Jul 29 London 1605.20 1623.12 1606.20 1623.99 Source: Thomson Reuters CAST BAR Aug 01 (S$) Selling Buying Kilobar 6,845.04 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 150 62 5gm 425 312 10gm 759138 words
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Article70 2011-08-02 26 Jul 29 29 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2596.75 2611.00 3 months 2624.00 2638.00 Copper, Grade A (US$/tonne) Cash 9811.25 9794.00 3 months 9830.00 9814.00 Lead (US$/tonne) Cash 2594.75 2637.00 3 months 2613.00 2655.50 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash70 words
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Article154 2011-08-02 26 Aug 1 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3246 1.3269 1.1033 1.1043 Canadian dollar 1.2611 1.2630 1.0504 1.0511 Euro 1.7274 1.7290 1.4388 1.4389 NZ dollar 1.0581 1.0596 0.8813 0.8818 Sterling pound 1.9739 1.9759 1.6441 1.6444154 words
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Article22 2011-08-02 26 Aug 1 S$ Bid Offer 1-month 1.2005 1.2016 2-months 1.2005 1.2015 3-months 1.2004 1.2015 6-months 1.1995 1.2006 Source: OCBC22 words
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Article67 2011-08-02 26 Aug 1 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 11 3131 3141 3151 3130 158 2473 Sep 11 3120 3128 3140 3110 2758 ***** Oct 11 3118 3121 3136 3108 ***** ***** Nov 11 3115 312067 words
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Article81 2011-08-02 26 Jul 29 COCOA (£/tonne) Close Prev High/Low Sep 11 1852 1862 1873/1845 Dec 11 1885 1894 1904/1880 Mar 12 1901 1915 1920/1897 May 12 1912 1925 1929/1910 COFFEE (US$/tonne) Close Pev High/Low Jul 11 2039 unch Sep 11 2092 2084 2109/2055 Nov 11 2125 2116 2142/2088 Jan 12 213981 words
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SME Inc
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Article, Illustration1243 2011-08-02 27 DICKSON LI - Michael Lee’s firm Leeway specialises in the delicate job of moving mainframe computers without loss of data, reports DICKSON LI reports DICKSON LI THE year was 1982. Michael Lee had been doing well as a salesman, but, bound by the chains of gambling, he lostYEN MENG JIIN - 1,243 words
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Article, Illustration571 2011-08-02 27 TAM YU LING - By TAM YU LING MOST people who say “what doesn’t kill you can only make you stronger” have never had a brush with death. But, for Nando Parrado, survivor of the 1972 Air Force crash in the Andes, the phrase has a571 words
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Article, Illustration1085 2011-08-02 28 MAXIE AW YEONG - JDMIS is hoping for greater government support for the industry to take it to the next level, reports MAXIE AW YEONG reports MAXIE AW YEONG A LOOK at the jewellery showcase on the second level of Shaw Towers Gallery may lead one toYEN MENG JIIN - 1,085 words
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Article, Illustration733 2011-08-02 28 CHEN HUIFEN - Family businesses should start small ventures beyond their domain. reports CHEN HUIFEN IF FAMILY businesses are like established castles, then sustaining them beyond the third generation would be about building smaller cannons and shooting arrows strategically, rather than building big cannons to strengthen the733 words
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Article296 2011-08-02 28 ASK NUS PROFS Q: There has been a lot of talk about corporate governance, but some of the governance requirements sound onerous especially for small and simple family businesses. It is not surprising that many other companies fulfil only the minimum requirements. How relevant is corporate296 words
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Article, Illustration795 2011-08-02 29 JONATHAN CHEE, ONG WEE SERN, TAI LEE YU - The leading manufacturer of industrial cooling systems is making a push into the marine and oil gas industries By JONATHAN CHEE, ONG WEE SERN, TAI LEE YU The writers are students of NUS Business School THE ubiquity of cooling systems is seldom noticed. Its importance,FILE PHOTO - 795 words
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Article442 2011-08-02 29 TEH HOOI LING - By TEH HOOI LING WHILE the blue-chip Straits Times Index (STI) climbed after US President Barack Obama said lawmakers had reached agreement on increasing the nation’s debt limit to avoid a default, smaller-cap stocks didn’t make much headway. In the week to yesterday, the STI442 words
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Article, Illustration965 2011-08-02 29 FOO WEI MING ANTONIO, GOH KENG GUAN RONALD, LIEW YIK MING - Atlas Vending aims to provide all kinds of refreshments around the clock with its machines By FOO WEI MING ANTONIO, GOH KENG GUAN RONALD, LIEW YIK MING The writers are students of NUS Business School IT’S not just about soft drinks or chips with Atlas VendingARTHUR LEE - 965 words
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Advertisement237 2011-08-02 27 NANYANG TECHNOLOGICAL UNIVERSITY Nanyang Business School anyang EXECUTIVE EDUCATION I SPRING-NANYANG SME Hi-Potential Leadership Programme Developed in collaboration with SPRING Singapore, this leadership programme is designed to empower middle managers to move into senior positions and take on leadership roles in various areas of management. Comprising three modules, the programme237 words
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Advertisement8 2011-08-02 28 Formosa Petrochemical Corpseeks helpfromS'poreexperts overfrequent firesatits complex Tosubscribe,call6388-3838orgotosphsubscription.com.sg8 words
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Advertisement93 2011-08-02 28 Started out as a fortnightly column, ‘Ask NUS Profs’ will now be a weekly collaboration with NUS Business School. Every week, a panel of professors from the school will address business-related questions relevant to SMEs. If you manage a business and have a question to ask the panel, please e-mail93 words
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PROPERTY
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253 2011-08-02 30 Donations will go to key programmes by CDCs for underprivileged children CAPITALAND announced yesterday that its Green for Hope CapitaLand campaign has raised $700,000 to help underprivileged children islandwide. The Foundation’s donations will go toward key programmes by the Community Development Councils (CDCs) that253 words
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Article, Illustration582 2011-08-02 30 Demand is up after March earthquake damaged some distribution centres Bloomberg [TOKYO] Prologis Inc, the world’s biggest warehouse owner, said it expects profit in Japan to rise as rents at its properties in the nation will probably increase because of a shortageBloomberg - 582 words
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Article, Illustration505 2011-08-02 30 Bloomberg [NEW YORK] Allstate Corp, the second-largest US home and auto insurer, posted its first quarterly loss in more than two years as storms and tornadoes led to a surge in claims costs. The second-quarter net loss of US$620 million, or US$1.19 aBloomberg; AP - 505 words
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Article, Illustration555 2011-08-02 31 Buyers from euro zone see city as safe haven as debt crisis hits region Bloomberg [LONDON] Central London luxury home prices jumped the most in six months in July as buyers from mainland Europe sought a haven from economic instability, driving valuesBloomberg; BLOOMBERG - 555 words
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391 2011-08-02 31 Bloomberg [NEW YORK] Berkadia Commercial Mortgage LLC, the lender and servicer backed by Warren Buffett’s Berkshire Hathaway Inc, is considering mergers and acquisitions. “Berkadia is looking to grow, and one of the components of the strategy is M&A, potentially,” Kelly Davis, a spokesmanBloomberg - 391 words
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Article123 2011-08-02 31 AP [CONNECTICUT] Katharine Hepburn’s former home on Connecticut’s side of Long Island Sound is up for sale. Owners have updated the house by combining rooms to create larger and more open spaces. The house had 21 rooms and nine bathrooms but has been reduced toAP - 123 words
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567 2011-08-02 31 Higher rental income offsets effect of disposals Bloomberg [LONDON] Hammerson Plc, Britain’s third largest real estate investment trust, said first-half profit was little changed as higher rents reduced the effect of disposals. Earnings before changes in asset values fell to £67.8 million (S$133.5 million), orBloomberg - 567 words
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Article, Illustration616 2011-08-02 32 Prices gained 0.2% in July from June, the slowest since August last year Bloomberg [SHANGHAI] China’s home prices rose at the slowest pace in 11 months in July after the government expanded efforts to curb the risk of an asset bubble, according to SouFunBloomberg; REUTERS - 616 words
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358 2011-08-02 32 KALPANA RASHIWALA - 200-plus of the Far East project’s total 748 units released By KALPANA RASHIWALA FAR East Organization group is said to have sold over 150 units at euHabitat, a 99-year leasehold private residential project at Jalan Eunos. It began previewing the five-storey358 words
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Advertisement144 2011-08-02 30 2010 EDITION A collection from The Business Times The diverse experiences of some of the most influential thinkers, corporate chiefs and social activists of the age Available at all leading bookstores 52 interviews by The Business Times journalists Australian Property Finance Have you recently bought an Australian property and need144 words
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Advertisement176 2011-08-02 30 SEN| Brand New retail/office 1 min walk to Tanjong Pagar MRT 1st 2nd floor Gd frontage, high visibility •172 to 3,337 sf 9090 2222 Call 1800 289 8822 or e-mail notices@sph.com.sg I to place your J Change of f} i Address Notices I 5 j ol Knight Frank Estate Agent176 words
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Advertisement83 2011-08-02 31 SAFFRON London Singapore Hong Kong LONDON PROPERTY OWNERS Is Your Property Empty and Losing Money EXPERTS IN LETTINGS FREE PROPERTY MANAGEMENT Saffron rent a new London property every 30 minutes We can collect keys Inspect property Arrange marketing Secure tenants FAST 12 months FREE Property Management services Monty Nawaz +6583 words
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Advertisement201 2011-08-02 31 WHOLE FLOOR RETAIL SHOPS FOR SALE BY EXPRESSION OF INTEREST r~ :"-v u i h X i t?'* THE ADELPHI 999 year land tenure Total strata area: 32,151 sq ft Vibrant precinct with major landmark developments Next to City Hall MRT Station Ample car parking Guaranteed yield I Closing Date:201 words
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Advertisement130 2011-08-02 32 Investment j^Trends The more you trade the more you save Alerts II Activity I fTickets [fc Open Positions Working Orders 0MARKETS I Lsyouts II Help MOM v A 1100.000.00 too Watchhsts ••3 :~s L^A> il a v C *'tiGn A 0areg a u v.;.- L "n,t Enjoy automatic rebates every130 words
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Advertisement17 2011-08-02 32 Pacify the Raging Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Apology Notices NOTICES17 words
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