The Business Times, 20 August 2011

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Microfilm: NL31592
Total Pages: 47
1 20 The Business Times
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  • TOP STORIES
    • Article
      Lock icon Madoff firm liquidator targets Lion Global
      529 2  -  Trustee alleges a Madoff feeder fund had transferred money it received from Madoff’s investment advisory firm to Lion Global By Grace Leong gleong@sph.com.sg Singapore SINGAPORE-BASED asset management firm Lion Global Investors Ltd is among seven companies targeted by a liquidator of swindler Bernard Madoff’s
      529 words
    • Article
      Lock icon MARKETS
      140 2 H STI 2,733.63 (-91.33) H STI FUTURES 2,733 (-79) H SIMSCI 314.79 (-9.91) H SIMSCI FUTURES 314.30 (-9.30) STOCKS Friday Change KL COMP 1,483.98 -19.32 NIKKEI 225 8,719.24 -224.52 HANG SENG 19,399.92 -616.35 SET 1,069.20 -19.89 JAKARTA 3,842.75 -178.25 MANILA 4,339.90 -63.64 KOSPI 1,744.88 -115.70 SHENZHEN B 665.77 -9.60
      140 words
    • Article, Illustration
      Lock icon India Inc in a bind over anti-corruption drive
      809 4  -  It supports the sentiment but is afraid that the campaign may paralyse decision-making By Neeta Lal btworld@sph.com.sg New Delhi ACTIVIST Kisan Baburao Hazare aka Anna Hazare, 74, may have served as a modest driver in the Indian Army for 15 years, but
      AP  -  809 words
    • Article, Illustration
      Lock icon Police arrest man over hacking of HK bourse website
      421 5 Five computers, 2 mobile phones and 2 digital storage devices seized Bloomberg AFP Hong Kong HONG KONG police have arrested a 29-year-old man overhacking attacksonthewebsiteofthecity’sstock exchange that curbed public access and led to government and criminal investigations. The police seized five
      Bloomberg; AFP  -  421 words
    • Article, Illustration
      Lock icon Noda’s ‘oral intervention’ fails to move yen
      571 6  -  The authorities would have zero tolerance for currency-market speculators, he warns By Anthony Rowley btworld@sph.com.sg Tokyo JAPAN’s Finance Minister Yoshihiko Noda fired fresh salvos yesterday in the battle against the strong yen by hinting strongly at the possibility of further official intervention and
      REUTERS  -  571 words
    • Article, Illustration
      Lock icon The big deal about Groupon’s blurbs
      758 6  -  saturday soapbox| Joyce Hooi Reporter joyceh@sph.com.sg IF THERE’S a place where language and journalistic ambition go to die, it appears to be Groupon. It would be fitting, because some of the blurbs that accompany their group discount deals in your inbox make you feel
      758 words
    • Article, Illustration
      Lock icon Aussie designer goes places with her handbags
      875 7  -  Rachelle Dendle plans to launch her product in S’pore by January next year By Neena Bhandari btworld@sph.com.sg Sydney AUSTRALIAN designer Rachelle Dendle, who has created a luxury handbag brand, After the Apple, sees Asia not just as her muse but also her market.
      875 words
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      Lock icon Page 2 Advertisements Column 1
      60 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 30-32 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Trends L2-5 Dining L6-7 Shopping L8-9 Home Garden L10-11
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      Lock icon Page 3 Advertisements Column 1
      314 3 Brought to you by RAYMOND WEIL i J} > th RAYMO ;e ae e nds powe n R Ay tu 9 •w ■TH* W V" $ss vV3,; \\v THE MOON has been a source of endless fascination to watchmakers. One of the most poetic mechanical watch functions to result from
      314 words
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      496 5 THE MONETARY AUTHORITY OF SINGAPORE APPLICATION FOR TAXABLE BOOK-ENTRY SINGAPORE GOVERNMENT BONDS TENOR APPROXIMATELY 15 YEARS TOTAL AMOUNT OFFERED SGD 1,600,000,000 MINIMUM DENOMINATION SGD 1,000 MAS' INTENDED TENDER AMOUNT** NIL ISSUE CODE NY*****H (REOPENED) ISIN CODE SG7S*****627 ISSUE DATE/SETTLEMENT DATE 1 SEPTEMBER 2011 MATURITY DATE* 1 SEPTEMBER 2024 COUPON RATE
      496 words
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
      282 7 (ilf) SINGAPORE MEDICAL SPECIALISTS CENTRE Have you had your Health Screening? Do not hesitate! Early prevention and detection is vital. At Singapore Medical Specialists Centre, we will help you identify which of our specially tailored comprehensive health screening package best suits you! With our "one-day, one-stop" concept, you will be
      282 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon In for the long haul
      1620 8/9  -  CEO James Hogan believes Etihad Airways, despite being a mid-sized airline, has what it takes to compete with the big players and take on the world. By Ven Sreenivasan ven@sph.com.sg ‘JUST about everywhere on earth there is a direct flight to or from Abu Dhabi.
      1,620 words
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK August 15-19, 2011
      • Article
        Lock icon More qualify for new flats, ECs as income ceiling goes up
        84 10 HOME seekers had much to cheer about as the Government announced an increase in the income ceiling for HDB flats to $10,000 from $8,000, followed by a raise in the income ceiling for executive condominiums to $12,000 from $10,000.
        84 words
      • Article
        Lock icon Private home sales ride July rebound
        41 10 THE number of private homes sold by developers rebounded in July after falling for the preceding two months, but the outlook remains tinged with uncertainty about the state of the financial markets and the economy.
        41 words
      • Article
        Lock icon Japan contraction less severe than feared
        57 10 THE continuing contraction of Japan’s economy following the country’s natural disasters and nuclear crisis in March eased much faster than expected in the second quarter of this year. Data showed real GDP shrank at an annualised rate of 1.3 per cent in the April-June
        57 words
      • Article
        Lock icon Google to buy Motorola biz in mega deal
        41 10 GOOGLE Inc, maker of the Android mobile phone software, agreed to buy smartphone maker Motorola Mobility Holdings for US$12.5 billion in its biggest deal, gaining mobile patents and expanding in the hardware business.
        41 words
      • Article
        Lock icon New set of measurements for white-collar foreigners
        67 10 SIGNIFICANT changes to Singapore’s employment pass framework will kick in from January 2012 potentially raising businesses’ wage costs by an average of one to 2 per cent. Providing details on what was first announced by the Prime Minister on Sunday, the Ministryof Manpowersaidthe
        67 words
      • Article
        Lock icon Red Devils may erase debt with Singapore IPO
        43 10 MANCHESTER United are planning to raise about US$1 billion from an initial public offering in Singapore later this year in a move that could wipe out most of its massive debt in one fell swoop.
        43 words
      • Article
        Lock icon Qantas preps new airline, may base it in S’pore
        43 10 SINGAPORE could be the Asia-Pa-cific hub for Qantas Airways’ new premium carrier. Qantas CEO Alan Joyce has declared the airline would soon unveil a new premium carrier based at either Singapore or Kuala Lumpur.
        43 words
      • Article
        Lock icon Eurozone growth sags to 0.2% in Q2
        50 10 ECONOMIC growth in the 17 countries that use the euro sagged to 0.2 per cent in the second quarter. The German economy expanded only 0.1 per cent in the quarter, as against 1.3 per cent in the first three months of the year.
        50 words
      • Article
        Lock icon Technical recession in the frame as exports dip
        51 10 A SURPRISE 2.8 per cent dip in July’s non-oil domestic exports has raised the odds of a technical recession in the current quarter, with talk too of full-year GDP growth undershooting the official 5-6 per cent forecast if sec-ond-half growth turns out
        51 words
      • Article
        Lock icon Historic 4-way tussle kicks off among the Tans
        57 10 IT’S official: Singapore will witness a historic four-way battle for the honour of becoming the country’s new president come next Saturday. All the four “Tans” Tan Kin Lian, Tan Jee Say, Tony Tan and Tan Cheng Bock went through the nomination proceedings
        57 words
      • Article
        Lock icon Payday for CK Tang minorities who waited and waited
        41 10 CK TANG on Thursday proposed to cancel all remaining shares held by minority shareholders at $1.30 per share. This represents a 56.6 per cent premium over the previous delisting price of $0.83.
        41 words
      • Article, Illustration
        Lock icon Markets plunge on poor US economic numbers
        99 10 FEARS that the world’s largest economy could slow and trigger a global recession were further stoked after a barrage of poor US economic data on Thursday, sending markets plummeting. Factory activity in the US Mid-Atlantic region plummeted in August to the lowest level
        AFP  -  99 words
    • Article
      Lock icon NEXT WEEK Aug 22-26, 2011
      99 10 US DATA Aug 23 July new home sales Aug 24 MBA mortgage index July durable orders June FHFA housing price index SINGAPORE DATA Aug 23 July consumer price index Aug 26 July index of ind’l production Q2 business receipts index EVENTS Aug 24 France’s package
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  • Page 10 Miscellaneous
    • Miscellaneous
      Lock icon Page 10 Miscellaneous Column 1
      323 10 CRYPTIC CROSSWORD SATURDAY with Ludwig Across 1 Tight trousers Ian’s ripped badly (10) 9 An act of duplicity? (4) 10 Man of the match (10) 11 East European refinement (6) 12 Levelling out and gliding (7) 15 Criticism about degree of alcohol (7) 16 Get thinner and lighter (5) 17
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  • COMPANIES
    • Article
      Lock icon Iron ore futures on SMX see small volumes
      391 11 Reuters VOLUMES traded on the Singapore Mercantile Exchange’s (SMX) iron ore futures remained thin a week after the bourse launched the contract with market participants opting for widely traded swaps instead. SMX, owned by India’s Financial Technologies, introduced its cash-settled iron ore
      Reuters  -  391 words
    • Article, Illustration
      Lock icon Recession fears take toll on commodity stocks
      830 11  -  OCBC downgrades sector to ‘neutral’ from ‘overweight’, sees mixed fortunes for it for second half of 2011 sector focus| By Felda Chay feldac@sph.com.sg COMMODITY plays were among the hardest hit yesterday as a string of poor economicdatafromthe world’sleadingeconomies raised recession fears and wrecked
      830 words
    • Article
      Lock icon DBS Vickers pares earnings forecast for several industries
      371 12  -  This follows poor showing by firms in April-June quarter By Jamie Lee leejamie@sph.com.sg DBS Vickers Securities has cut the full-year earnings forecasts for several industries, with industrial and consumer services sectors bearing the brunt of it. This follows the poor showing by
      371 words
    • Article
      Lock icon SIA adjusts share awards for effect of special dividend
      171 12 SINGAPORE Airlines (SIA) has adjusted conditional share awards for staff following the payment of a special dividend to shareholders. With the payment of the special dividend of 80 cents per ordinary share on Thursday, the SIA board compensation and industrial relations
      171 words
    • Article, Illustration
      Lock icon Singapore most exposed Asean market: report
      652 12  -  Morgan Stanley also cuts Republic’s GDP growth forecasts for this year and next By Carine Lee carinel@sph.com.sg SINGAPORE is likely to be the Asean market most significantly impacted by a slowdown in global growth, according to Morgan Stanley’s Aug 18 Asean Strategy research report.
      REUTERS  -  652 words
    • Article, Illustration
      Lock icon STI drifts to a 15-month low on global currents
      512 13  -  Investors hope for QE3 as many blue chips see 52-week lows stocks| Ven Sreenivasan ven@sph.com.sg Senior correspondent AN overnight slump on Wall Street and European markets, coupled with weak futures and another negative opening in Europe, triggered a bear raid across
      512 words
    • Article
      Lock icon TOP 20 ACTIVES
      112 13 VOL CLOSE GentingSP 155,006 152.5 -12.0 -7.3 GoldenAgri 85,066 63.5 -2.5 -3.8 TopGlobalW*****9 81,900 0.3 -0.1 -25.0 TopGlobal 60,125 0.7 -0.1 -12.5 HSI*****MBeCW*****9 59,166 13.2 -6.4 -32.7 Yangzijiang 48,546 97 -11.0 -10.2 CoscoCorp 45,165 97.5 -7.5 -7.1 NexGenSCom 43,896 2.4 -0.3 -11.1 NobleGrp 41,637 136 -8.5 -5.9
      112 words
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      Lock icon STI STOCKS
      111 13 Stock name Close Change CapMallsAsia 1.140 -0.035 CapitaLand 2.390 -0.110 CapitaMall 1.730 -0.015 CityDev 9.750 -0.280 ComfortDelGro 1.305 DBS Grp 13.510 -0.380 F&N 5.440 -0.130 GLP 1.660 -0.060 Genting SP 1.525 -0.120 Golden Agri 0.635 -0.025 HK Land 5.400 -0.300 JMH 49.070 -2.460 JSH 29.360 -0.890 Jardine C&C
      111 words
    • Article
      Lock icon Bargain hunters wary of cheap European bank stocks
      694 13 Reuters London EUROPEAN bank shares have been knocked to two-year lows by deepening fears about the global economy and the threat that the eurozone crisis may spur more capital raising. Bargain hunters are not biting yet. The lowly valuations reflect a deeply
      Reuters  -  694 words
    • Article
      Lock icon TOP GAINERS
      60 13 BY CENTS CLOSE UP GLD 10US$ ***** 883.8 4.2 DBXT S&P Short 10US$ 4827 214.6 3.8 DBXT iBoxxSing 5SG$ ***** 77.0 0.6 Asia Pac Brew 2700 31.0 1.2 Lyxor EasternEurope1 485 17.0 3.0 STI 3100BPePW*****9 74.5 14.0 23.1 STXPO 100 800 13.0 1.7 STI 3000 DBePW*****3 58.5 12.5
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    • Article
      Lock icon TOP LOSERS
      63 13 BY CENTS CLOSEDOWN IS S&P500 ***** -622.0 -4.3 DBXT MSKorea 10US$ 4929 -539.5 -8.3 DBXT Nifty 10US$ ***** -509.2 -3.8 IS DJ US Tech 5695 -415.9 -5.7 DBXT MSEurope 10US$ 3938 -366.1 -7.1 DBXT E50 10US$ 3437 -300.7 -6.7 JMH 4907 -298.3 -4.8 DBXT SPASX200 10US$ 3091 -197.6
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    • Article, Illustration
      Lock icon Man U may soon test investor reception
      510 14 Morgan Stanley, JPMorgan Chase hired to help manage IPO Reuters Hong Kong/Singapore ENGLISH Premier League soccer champion Manchester United may start testing investor reception to its planned Singapore listing as early as next month. The club has hired Morgan Stanley and JPMorgan Chase
      Reuters; REUTERS  -  510 words
    • Business briefing
      • Article
        Lock icon Keppel Land China acquires residential plot
        103 14 KEPPEL Land China has secured a 21.5-ha lakefront residential site in Binhu district, Wuxi, Jiangsu province, for 1.937 billion yuan (S$367.8 million) for the development of about 2,500 units, including commercial components. The development will be Keppel Land China’s fourth project in Wuxi. With
        103 words
      • Article
        Lock icon Chosen expects ‘adverse effect’ on full-year results
        105 14 CHOSEN Holdings warned that its full-year results ended June 30, 2011, had been “adversely affected”.On May 19,2011,thecompany had warned that its first three quarters were adversely affected by the weakening of the US dollar and low- er demand. And it had expected demand
        105 words
      • Article
        Lock icon Shareholder raises stake in OKP Holdings
        95 14 OKP HOLDINGS and China Sonangol International (S) Pte Ltd said in a joint release that the latter has increased its stake in OKP to 14.15 per cent from about 9.23 per cent. China Sonangol had bought 15 million shares from OKP executive directors and
        95 words
      • Article
        Lock icon Bank loses appeal for summary judgement against KXD Digital
        147 14 KXD DIGITAL Entertainment announced that the High Court has dismissed with costs KBC Bank NV Singapore’s (KBC) appeal for summary judgement relating to the bank’s claims against the company. The dispute will now proceed to trial. On March 24, 2011, KXD
        147 words
  • Page 11 Advertisements
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      Lock icon Page 11 Advertisements Column 1
      154 11 FLIGHT CENTRE Langkawi London New York Phuket Siem Reap Sydney Taipei Toronto Vienna $170* $749* $970* $180* $290* $425* $216* $1,010* $749* Economy return from $3,920* London $1,308* 020* Return airfare 5 nights accom 9 at Ibis Earls Court and daily breakfast. $98 Paris $1,308* $1,276* INCLUDES Return airfare 5
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  • Page 14 Advertisements
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      Lock icon Page 14 Advertisements Column 1
      60 14 FREEGOODIEBAG with every September issue purchased at PlayTest@COMEX! Enjoy 30% off subscription gifts. PlayTest@COMEX Learn tips and tricks about gadgets and tech at our exclusive seminars. Date: 1-4 Sep 2011 (Thu-Sun) Venue: Suntec Convention, Level 2 Meeting Rooms 208-209 Log on to www.playtest.sg for details of seminar topics and registration.
      60 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Grooming future talents
      870 15  -  For Singapore’s IT workforce to stay globally competitive, an enhanced learning model to produce industry relevant multi-disciplinary professionals faster and more efficiently is needed from the desk of Leslie Loh Chairman Lithan Hall Academy BEING part of the working committee appointed by the IDA several years back
      870 words
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  • SINGAPORE
    • Article
      Lock icon Kin Lian wants to be the ‘voice of the people’
      434 16  -  By Chuang Peck Ming peckming@sph.com.sg PRESIDENTIAL hopeful Tan Kin Lian says he wants to be the voice of the people especially those who have been neglected. Did he consider running for the general election in May? he was asked yesterday.
      434 words
    • Article
      Lock icon Shift PMO out of Istana? Mixed reactions to idea
      633 16  -  Tan Kin Lian not in favour; Tony Tan says vital point is president acting independently By Lee U-Wen leeuwen@sph.com.sg PRESIDENTIAL candidate Tan Cheng Bock’s recent suggestion that the government should shift its operations away from the Istana premises has been met
      633 words
    • Article, Illustration
      Lock icon SingTel raises $820,000 from charity golf event
      214 16 SINGAPORE tions(SingTel)’scorporatephilanthropy programme, SingTel Touching Lives Fund (STLF), raised a record $820,000 from its 10th annual charity golf event yesterday. Held at the Tanah Merah Country Club’s Garden Course, the event garnered strong portfromSingTel’sbusinesspartners and associates who sponsored all 36 flights of golf.
      214 words
    • Article
      Lock icon SPH’s Geoff Tan wins top marketing award
      204 18 SINGAPORE Press Holdings’ (SPH) Geoff Tan has been named Pacific Area Newspaper Publishers’ Association (Panpa) 2011 Marketer of the Year. This prestigious accolade recognises outstanding performance in marketing for a newspaper publishing company. Mr Tan is the senior vice-president and head, strategic marketing.
      204 words
    • Article, Illustration
      Lock icon Singapore foreign wholesale trade up 14.7% in Q2
      465 18  -  After adjusting for price changes, growth is a smaller 2.3% By Teh Shi Ning tshining@sph.com.sg SINGAPORE’S foreign wholesale trade index jumped 14.7 per cent in Q2 from a year ago, largely due to higher prices. After adjusting for price changes, growth was
      BLOOMBERG FILE PHOTO  -  465 words
    • Briefing
      • Article
        Lock icon Borders appoints interim judicial manager
        89 18 TIM Reid, of financial advisory services firm Ferrier Hodgson, was appointed on Thursday as the interim judicial manager of Borders Pte Ltd. The company said in a statement yesterday that Borders was not two months behind in paying rental. Rental for gustwasnotpaid“duetoanadministrativediscrepancy in the cheque
        89 words
      • Article
        Lock icon New permanent secretary for PMO
        48 18 BENNY Lim, permanent secretary (Home Affairs), will be appointed concurrently as permanent secretary (Prime Minister’s Office) from Sept 1, 2011. Chiang Chie Foo will relinquish the permanent secretary (Prime Minister’s Office) appointment on the same date and will continue as permanent secretary (Defence).
        48 words
    • Article
      Lock icon $100m cement terminal to boost Jurong Port space
      226 18 JURONG Port will be developing a new $100 million cement terminal, the port operator announced yesterday. This new terminal is being built to ramp up the handling capacity of its existing cement facility by another 50 per cent. “The development of the
      226 words
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      Lock icon Page 17 Advertisements Column 1
      49 17 «a lfs all >8 about Trust Just as you rely on your gown maker to deliver on your big day, you can turn to The Straits Times as a trusted source of news, views and reviews. A CO > .1 v m A W THE STRAITS TIMES. A publication of
      49 words
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  • WORLD
    • Article
      Lock icon Hedge funds turn most bearish in two years
      636 19 Investors sell as global equities lose 15% since July 22 and S&P 500 posts record swings Bloomberg New York BEARISH wagers against global stocks at hedge funds have surged to the highest level since July 2009 as the European debt crisis and
      Bloomberg  -  636 words
    • Article, Illustration
      Lock icon HP says goodbye to PCs but the journey won’t be easy
      426 19  -  By Robert Cyran REUTERS BREAKINGVIEWS HEWLETT-PACKARD is saying goodbye Compaq, and hello IBM. The US tech giant may spin off its PC unit and stop making mobile devices running its own operating system. It has also made a surprise
      REUTERS; BLOOMBERG  -  426 words
    • Article
      Lock icon Korean household debt too high, warns central bank
      253 19 AFP Seoul SOUTH Korea’s central bank head yesterday issuedafreshwarningonthecountry’sgrowing mountain of personal debt, a day after local banks suspended most loans to individuals. “The volume of household debt is too large and it’s rightto move in the direction of reducing it,” Bank
      AFP  -  253 words
    • Article, Illustration
      Lock icon Brawl at basketball game unravels US-China goodwill
      542 20 Reuters Beijing AS US Vice-President Joe Biden built trust with China in Beijing’s corridors of power, goodwill between the two nations unravelled on Thursday night on a nearby basketball court, where players beat each other up and even a chair was thrown. A
      Reuters; AP  -  542 words
    • Article
      Lock icon Bank of America to cut 3,500 jobs this quarter
      463 20 It may also need to raise money by offering new shares Reu ters Singapore BANK of America is cutting 3,500 jobs this quarter according to an internal memo, as the biggest US bank grapples with its US$1 trillion problem-loan portfolio and
      Reuters  -  463 words
    • Article
      Lock icon Mahindra eclipses Tata in market value
      290 20 Tata shares dragged down by slumping passenger car demand Bloomberg Mumbai MAHINDRA Mahindra Ltd, India’s biggest maker of sport utility vehicles, toppled Tata Motors Ltd as India’s biggest carmaker by market value after slumping passenger car demand dragged down Tata’s shares. Mahindra gained 0.3
      Bloomberg  -  290 words
    • Article
      Lock icon Ringgit sukuk set to see record sales this year
      437 21 Yields on M’sia’s benchmark five-year Islamic bonds drop 17 basis points this quarter to 3.466%, matching the lowest level this year Bloomberg Singapore SALES of ringgit-denominated Islamic bonds are headed for a record this year as Malaysia’s US$444 billion development plan
      Bloomberg  -  437 words
    • Article
      Lock icon China’s Citic Group undecided on Macarthur counterbid
      247 21 Reuters Hong Kong CHINA’S Citic Group has yet to decide whether to launch a counterbid for Australian coal miner Macarthur Coal Ltd, which is the subject of a US$5 billion hostile takeover from ArcelorMittal SA and Peabody Energy Corp. Citic Group, together with
      Reuters  -  247 words
    • Article
      Lock icon HK official hopes for higher 2012 China dim sum debt target
      485 21 No sign of crackdown seen on issues of yuandenominated bonds Bloomberg Hong Kong HONG KONG hopes China will meet the 50 billion yuan (S$9.5 billion) target for yuan-denomi-nated bond sales by mainland companies next year and sees no signs
      Bloomberg  -  485 words
    • Article
      Lock icon Citigroup, JPMorgan lower US growth forecast
      538 22 JPMorgan sees GDP growing 1% in Q4, not 2.5% previously forecast Bloomberg London CITIGROUP Inc and JPMorgan Chase Co cut their US growth forecasts as the global economy slows and officials struggle to stemEurope’ssovereign-debtcri-sis. Gross domestic product (GDP) will grow one per cent in
      Bloomberg  -  538 words
    • Article
      Lock icon UBS, Credit Suisse deny using Fed swap facility via Swiss National Bank
      355 22 Reuters Reuters Zurich SWITZERLAND’S two biggest banks UBS and Credit Suisse yesterday denied they had made use of the US Federal Reserve’s swap facility via the Swiss National Bank (SNB). There had been speculation that a Swiss bank
      Reuters  -  355 words
    • Article, Illustration
      Lock icon Finland collateral deal could ‘blow up’ euro rescue plans, Austria warns
      611 22 Bloomberg Vienna FINLAND’S efforts to get collateral in exchange for new emergency loans to Greece could “blow up” the rescue plan endorsed by euro leaders last month, Austria warned yesterday, as the European Union cautioned against adding too many
      Bloomberg; BLOOMBERG  -  611 words
  • Page 19 Advertisements
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      Lock icon Page 19 Advertisements Column 1
      441 19 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF 1. ASIA TRACKS PTE. LTD. (Co. Reg. No. *****744N) 2. BED BEDDINGS PTE. LTD. (Co. Reg. No. *****6055K) (IN CREDITORS’ VOLUNTARY LIQUIDATION) Extract of the minutes at the Extraordinary General Meeting of members of (1) Asia
      441 words
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  • Page 21 Advertisements
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      Lock icon Page 21 Advertisements Column 1
      38 21 Check out these positions and five hundred more in CATS Recruit Executive Appointments in The Straits Times now! SingaporeSportsSchoolhasa vacancyfora Student-Athlete Life Mentor FoodEmpireHoldingsLimitedhasa positionopenfora Chief Financial Officer GICisrecruitinga VicePresident/SeniorVicePresident (IT Governance) SingaporeAirlinesCargoishiring Administrative Executives Uniqloislookingfor Operations ManagementTrainees
      38 words
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  • SGX
    • Article
      Lock icon SGX CATALIST
      10129 26 Transaction date: Aug 19 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 $mil 21 12 8Telecom 12.8 11.5 14.5 7.8 4.8 2.7 61.3 9.5 4.5 A-Sonic 5.2 -0.2 15 5.2 5.2 5.2 5.5 2.5
      10,129 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 2 13 1 0 0 0 2 13 1 Manufacturing 14 122 27 3 11 8 17 133 35 Commerce 9 42 13 1 7 2 10 49 15 Tpt/Stor/Comms 2 33 7
      186 words
    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      761 26 For week beginning Aug 15 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) CMZ 18-Aug-11 Shao Kesheng *Buy 106 0.19 *****3 68.21 *****9 68.24 Chuan Hup Hldgs 17-Aug-11 Peh Kwee
      761 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      122 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 46,922 46,922 177,696 177,696 Manufacturing 227,001 21,574 248,575 251,992 299 252,291 Commerce 179,411 4,484 183,895 176,392 523 176,915 Tpt/Stor/Comms 221,619 1,912 223,531 271,297 175 271,472 Finance 26,371 73 26,444 246,817 13 246,830 Construction 42,195 62,170
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  • MARKETS
    • Article
      Lock icon OIL
      75 27 Aug 18 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 107.66 -3.31 WTI (Near Mth) 81.79 -5.76 Dubai (1-Mth F) 104.52 -0.85 Tapis blend 115.10 -0.90 Minas 111.10 -0.90 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 103.72 0.55 Jet Kerosene 124.90 -0.20 US$/barrel Opec Oil Basket Price
      75 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      118 27 Aug 19 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.298 1.225 Can dollar 1.25 1.202 Euro 1.772 1.704 Sterling pound 2.041 1.963 NZ dollar 1.023 0.975 US dollar 1.232 1.185 Local dollars to 100 units of foreign currency: Currencies Sell
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      Lock icon METALS
      65 27 Aug 19 GOLD (US$/oz) Aug 18 Aug 19 Hong Kong 1795.*****4.70 Aug 17 Aug 18 London 1782.*****2.79 1783.*****3.80 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 49.65 49.25 Source: PLATINUM Lon (US$/oz) Aug 18 Close Previous PM Fix 1836.*****1.00 AM Fix 1841.*****9.00 Source: Thomson Reuters PLATINUM NYMEX (US$/oz)
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      Lock icon GOVERNMENT SECURITIES
      79 27 Aug 19 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****E 17.11.2011 0.11 1-Year BY*****X 02.05.2012 0.14 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 103.95 104 103.95 5-Year N*****0W 1.125 01.04.2016 102.86 10-Year NX*****X
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      Lock icon INTERBANK CURRENCY RATES
      154 27 Aug 19 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2541 1.2554 1.0344 1.0346 Canadian dollar 1.2245 1.2262 1.0100 1.0105 Euro 1.7324 1.7343 1.4289 1.4293 NZ dollar 0.9957 0.9969 0.8213 0.8216 Sterling pound 1.9986 2.0005 1.6485 1.6487
      154 words
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      Lock icon STOCK MARKETS
      90 27 YTD change:-14.31% 52-week high: 3,313.61 on Nov 9,2010 52-week low: 2,720.21 on Aug 11,2011 Source: Bloomberg YTD change: -9.75% 52-week high: 3,186.72 on Nov 11,2010 52-week low: 2,437.68 on Aug 9,2011 Source: Bloomberg YTD change:-15.78% 52-week high: 24,988.50 on Nov 8,2010 52-week low: 18,868.10 on Aug 9,2011 Source:
      Source: Bloomberg  -  90 words
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      Lock icon SMX MARKET UPDATE
      90 27 As on 18 Aug 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 Oct-11 1827.3 1795.5 1819 1792.5 Silver Sep-11 40.66 40.125 40.565 40.365 CURRENCY US Dollar-Jap Yen Sep-11 76.63 76.62 76.63 76.54
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      Lock icon LIFFE
      82 27 Aug 18 COCOA (£/tonne) Close Prev High/Low Sep 11 1874 1895 1891/1848 Dec 11 1888 1909 1908/1864 Mar 12 1908 1927 1923/1884 May 12 1918 1938 1933/1895 COFFEE (US$/tonne) Close Pev High/Low Sep 11 2275 2350 2391/2246 Nov 11 2305 2380 2422/2276 Jan 12 2322 2395 2436/2302 Mar 12
      82 words
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      Lock icon CHICAGO BOT
      93 27 Aug 18 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Sep 11 1352.*****6.*****9.*****6.00 Nov 11 1361.*****6.*****9.*****5.00 Jan 12 1371.*****7.*****8.*****6.75 Mar 12 1377.*****3.*****1.*****2.00 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Sep 11 55.27 55.65 55.70 54.55 Oct 11 55.46 55.86 55.86 54.75 Dec 11 55.83 56.24 56.33
      93 words
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      Lock icon PALM OIL
      67 27 Aug 19 Source: Bernama KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 11 3134 3115 3143 3117 531 6180 Oct 11 3050 3035 3064 3035 1812 ***** Nov 11 3003 3003 3023 2990 9358 ***** Dec 11
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      Lock icon MORGAN STANLEY CAPITAL INT`L INDICES
      374 27 In local curr In S$ In US$ dy yr dy yr dy yr Aug 18 Index Change Change Change Change Change Change World Index Preliminary 785.6 -3.7 -12.5 -3.0 -14.7 -4.1 -10.0 ‡EAFE Preliminary 665.7 -3.6 -16.9 -3.1 -16.2 -4.2 -11.6 Europe Preliminary 954.4 -5.0
      374 words
    • Article
      Lock icon LONDON METALS
      71 27 Aug 18 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2303.25 2359.25 3 months 2338.00 2398.00 Copper, Grade A (US$/tonne) Cash 8750.50 8943.50 3 months 8770.00 8965.00 Lead (US$/tonne) Cash 2307.50 2370.75 3 months 2301.00 2366.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon Happiness is...
      1463 28 / 29  -  As the nascent science of measuring Gross National Happiness gains wider acceptance, economists will need to agree on the definition of happiness that is most relevant and appropriate for national policy. By Carol Graham By Carol Graham ~The author is Senior Fellow and Charles Robinson Chair at the
      STOCK.XCHNG  -  1,463 words
    • Article
      Lock icon Women leaders: Let’s have more than 30%, please
      761 28 / 29  -  By Kathryn Yap ~The writer is managing partner, CTPartners in Singapore, a top executive search company IN her first news conference as head of the IMF, Christine Lagarde said: “Governance and quotas must be readjusted to reflect the new architecture of the
      761 words
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon The great market panic
        1687 30 / 31  -  panicThe recent slump in global share prices reflects fears of a recession in the US and Europe, and worries that this will drag down the rest of the world. Are these fears justified? Shane Oliver AMP Capital Investors ~The writer is head of investment strategy and
        Source: Bloomberg, AMP Capital Investors; AP  -  1,687 words
      • BROKERS' TAKE
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          Lock icon Singapore real estate
          521 30 / 31 Overweight RBS Research Aug 16 THE valuation gap between developer stocks and physical properties widened over the past eight months. We expect it to narrow as home sales remain robust. Strong household and developer balance sheets should support prices and cooling measures may prove ineffective in quelling
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        • Article
          Lock icon CapitaMalls Asia
          333 30 / 31  -  Compiled by Lynn Kan Buy DBS Vickers Aug 19 Close: $1.14 CAPITAMALLS Asia (CMA) announced it is buying an additional 50 per cent stake each in Minhang Plaza (US$262.6 million) and Hongkou Plaza (US$526.4 million) in Shanghai for US$789 million (S$949.7 million). This will give the group an
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      • Article, Illustration
        Lock icon Scarred by a volatile market
        1210 32 The recent wide swings in the stock market have resulted in investor anxiety that may linger for years Bloomberg Boston LAST week’s record volatility in US stocks ended after four days. The anxiety it instilled among mutual fund investors may linger for years. Investors pulled
        Bloomberg; AFP  -  1,210 words
      • Article, Illustration
        Lock icon Real estate sector in for a correction?
        1276 33  -  Where the stock market goes, the property market is likely to go too, maybe with a lag of two quarters show me the money Teh Hooi Ling hooiling@sph.com.sg Senior correspondent ~The writer is a CFA charterholder DO we have the making of a
        Compiled by BT with data from URA, Reuters Thomson Datastream; Compiled by BT with data from URA  -  1,276 words
    • WEALTH REAL ESTATE
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      Lock icon Page 36 Advertisements Column 1
      52 36 M iUDEMARS PlGUET Le maitre de I'horlogerie depuis 1875 MM BO 7 Oq O vw\\v^ u H o WM <$ -J-S £5^ <o I 2P 53» 4<? Co Jf; ytUDEMARS PlGUET ssss HP m m «1 i .i u ''A 'U Oft. >■ ROYAL OAK OFFSHORE CHRONOGRAPH For enquiries, Tel:
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      61 1 LivingTHEBUSINESSTIMESWEEKEND|AUGUST20-*****1BTTHE BUSINESS TIMES WEEKEND AUGUST 20-21 DINING A family affair L6-7 A GROWING MOVEMENT All for food grown, raised or produced locally L2-5 PERSONAL SPACE House warming L10-11 PHOTO: YEN MENG JIIN SHOPPING Heaven-scent L8-9 NO HOLDS BARRED QPR's weak opener casts a pall L15 MOTORING Audi TT RS: Double
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  • BT Living
    • TRENDS
      • Article, Illustration
        Lock icon A growing movement
        2485 2 / 3  -  The practice of eating food that is grown, raised or produced locally is catching on here. By Tan Teck Heng here.By Tan Teck Heng btnews@sph.com.sg THE image of eating a firm ripe tomato freshly plucked off a vine, or drinking milk from a dairy farm just outside
        ECO WALK THE TALK PHOTOS: YEN MENG JIIN, BHAVANI PRAKASH  -  2,485 words
    • DINING
      • Article, Illustration
        Lock icon A family affair
        1763 6 / 7  -  BT Weekend features three restaurants that have been influenced in different ways by the sibling factor. By Geoffrey Eu By Geoffrey Eu btnews@sph.com.sg BROTHERS are doing it for themselves in the culinary sense, anyway. Running an eatery is often a family affair, whether it’s a corner kopi
        ALL PHOTOS (EXCEPT SHIRAZ) BY JOHN HENG  -  1,763 words
    • SHOPPING
      • Article, Illustration
        Lock icon Heaven-scent
        1038 8 / 9  -  Two old-school fragrance labels are on the scent of the highly lucrative beauty market here with some heady new products. By Melissa Lwee-Ramsay By Melissa Lwee-Ramsay mellwee@sph.com.sg Penhaligon’s #03-16 ION Orchard IT may be located on the third floor of ION Orchard, arguably one of the slickest properties in
        PHOTOS: PENHALIGON’S; PHOTOS: FRAGONARD  -  1,038 words
      • Article, Illustration
        Lock icon Big on finds
        1416 8 / 9  -  Savvy shoppers no longer need to keep an annual vigil for The Great Singapore Sale to bag the best deals. BT Weekend susses out the other bargain events such as the Club 21 sale and speciality style bazaars By Melissa Lwee-Ramsay By Melissa Lwee-Ramsay mellwee@sph.com.sg By Natalie
        CLUB 21 PHOTO: ARTHUR LEE  -  1,416 words
    • HOME & GARDEN
      • Article, Illustration
        Lock icon HOUSE WARMING
        971 10 / 11  -  Splashes of colour and a good dose of hospitality inject warmth into a contemporary home. By Cheah Ui-Hoon personal space home.By Cheah Ui-Hoon uihoon@sph.com.sg THE warmth comes from the host and the hospitality, believes Rosalyn Tay, when describing how her design outlook complements her personality. Her contemporary apartment
        YEN MENG JIIN  -  971 words
    • HEALTH
      • Article, Illustration
        Lock icon Cleanliness is next to godliness
        682 12  -  Personal health boils down to the washing of hands and having good manners, according to findings by the Global Hygiene Council. By Cheah Ui-Hoon By Cheah Ui-Hoon uihoon@sph.com.sg SO YOU think that good manners is nothing more than just that but according to the findings
        Source: Hygiene Council  -  682 words
      • Article
        Lock icon Know your bacteria
        433 12  -  By Cheah Ui-Hoon Escherichia coli (E. coli) THE bacteria with the most potential to cause serious infections. Some strains produce a powerful toxin that causes bloody diarrhoea and can occasionally result in severe blood problems and kidney failure. E. coli spreads to people via contact with human
        433 words
      • Article, Illustration
        Lock icon CRUNCH TIME
        839 13 Researchers in a US study have found little correlation between robust core muscles and athleticism NYT FOR a study published this year, researchers at Indiana State University had a group of healthy, young adults squat, lunge, twist, crunch, and hold a rigid plank position to measure the hardiness
        NYT; FILE PHOTOS  -  839 words
    • GADGETS
      • Article, Illustration
        Lock icon Headphone heads-up
        664 14  -  Amp up your aural pleasure with these on-the-ear and over-the-ear headphones that lock out the world and lock in only your precious music. By Christopher Lim limchris@sph.com.sg Sony Z1000, $795 Audiophilegrade headphones are often large and heavy, but Sony’s new top-of-the-line Z1000 (right) gives sublime sound quality in
        664 words
    • SPORT
      • Article, Illustration
        Lock icon QPR’s weak opener casts a pall
        652 15  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor TONY Fernandes may be the proud majority owner of Queens Park Rangers, but the budget carrier boss may soon have to wake up to the reality that his new club’s stint in the English Premier
        REUTERS  -  652 words
      • Article
        Lock icon Yes, that referee will be guardian to my kids
        664 15 kick off with steve dawson NOBODYsaidthatdiscipliningchil-dren was easy. You hope to impart your view of what is right and wrong and somewhere along the line you trust that they’ll grow up with a moral compass to suit the times in which
        664 words
    • BT CORPORATE GOLF LEAGUE 2011
      • Article
        Lock icon Neck and neck
        554 16/17  -  Harry Elias leads the pack with OAAG and Team SunMoon both two points behind. By Justine Moss btnews@sph.com.sg IT’S tight at the top of the table with little separating the first three teams after the second round of the Business Times Corporate Golf League, which took place
        554 words
      • Article, Illustration
        Lock icon Park Hotel Group back for more
        378 16/17 ALMOST half of the team from last year have returned to play in this year’s league, according to Park Hotel Group’s senior vice-president Mohd K Rafin, who has also included some new business partners in his team who have average handicaps of nine to
        378 words
      • Article, Illustration
        Lock icon Bank of Singapore off to a fabulous start
        460 16/17 THE league being a well organised golfing event that offers a great choice of golf courses and the chance to connect with other players prompted the Bank of Singaporeto returnto playinthis year’stournament. “As it is targeted at corporate players that span across
        460 words
      • Article
        Lock icon Citi banking on secret weapons
        328 16/17 AS a strong partner of The Business Times, Citi Singapore werekeento againfield ateaminthis year’sleague. “This is now a widely anticipated event on the corporate calendar. It is a wonderful initiative and enables us to network with other participating companies. “It also provides the opportunity for
        328 words
    • MOTORING
      • Article, Illustration
        Lock icon Double clutch, double quick
        616 18  -  With two clutches, the automated S tronic transmission is smooth, swift, and also efficient. By Samuel Ee By Samuel Ee samuelee@sph.com.sg ASTHEflagshipmodelof theTTlineup,theAudiTTRSisn’tjust explosively powerful; it also has some historical detail to make it sufficiently special. In this case, its inline five-cylinder engine marks the first
        616 words
      • Article, Illustration
        Lock icon R IS FOR RACING
        638 19  -  Porsche’s new Cayman R is 55 kg lighter and runs of a new set of steel springs and dampers. By Samuel Ee samuelee@sph.com.sg PORSCHE is going racing with what is its most dynamic model for the circuit the mid-engined Cayman. The Cayman S has gone on
        638 words
      • Article, Illustration
        Lock icon No chinks in the armour
        592 20  -  By applying Xpel paint protection film to a vehicle’s bodywork, daily damage can be prevented. By Samuel Ee samuelee@sph.com.sg JUST got your new car but worried that its shiny smooth paint job will get scratched, chipped or pooped on? One way to save it is
        592 words
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      971 4 / 5 wine&dine with BTWeekend Triple Three Mandarin Orchard Singapore 333 Orchard Road Z6831-6288 Named after the address of the hotel 333 Orchard Road, Triple Three showcases a sumptuous international buffet spread with over 128 culinary delights and 10 LIVE cooking stations. In addition to the freshest Sashimi and Sushi, Tempura and
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