The Business Times, 24 August 2011

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Total Pages: 30
1 30 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 120/08/2011 Wednesday, August 24,
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  • 785 1  -  Cutting edge technology, proximity to Asian market contribute to attractions of local water companies By LYNN KAN [SINGAPORE] Water companies and investors have been taking the plunge in Singapore lately, snapping up water treatment companies based or listed here. Notable among recent deals
    785 words
  • 144 1 GST INDEX 2,765.15 (+33.34) G ST INDEX FUTURES 2,764 (+38) G SIMSCI 318.30 (+3.33) G SIMSCI FUTURES 317.40 (+3.30) FOREX US$ S$ US$ (S$ per US$) 1.203 (US$/S$ per 1.656 1.991 EURO (US$/S$/E) 1.448 1.742 Foreign currency per US$ S$ YEN 76.60 63.70 RM 2.967 2.467 HK$ 7.797
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  • 797 1  -  Metal’s price falls after stunning run above US$1,900 By Felda Chay [SINGAPORE] Bullish investors continued to pile into gold early yesterday, pushing it to an unprecedented high above US$1,900 an ounce before prices pulled back. Some analysts expect the retreat to be
    Source: Bloomberg  -  797 words
  • Page 1 Advertisements
    • 28 1 STANDARD POOR’S President Deven Sharma steps down PAGE 2 EXECUTIVE MONEY Tackling sudden market shocks I PAGE 30 When blue chips give you the blues I PAGE 29
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    • 11 1 TRANSPORT HUB Picking winners at SmartShipping conference PAGE 20 *****1 *****4
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    • 98 1 OPINION Asia holds promise as US, eurozone falter PAGE 18 LAND TRANSPORT Q2 motor insurance claims rise $19m from Q1 PAGE 22 The Businessof Time BT Watch Supplement 2011 for those who love and treasure timepieces. Don’t miss it in BT this Friday. Pure adrenalin •N n 0 Grand Prix
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  • TOP STORIES
    • 671 2  -  They are asked about their understanding of powers and responsibilities of post, including guarding reserves PRESIDENTIAL ELECTION 2011 By LEE U-WEN [SINGAPORE] All four candidates vying for the presidency appeared together on national television for the first time yesterday as they crossed swords on
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    • 775 2 Departure said to be unrelated to US rating downgrade Reuters [NEW YORK] Standard Poor’s said its president is stepping down, capping two weeks of controversy following the rating agency’s downgrade of US government debt on Aug 5 that sparked a row with the
      Reuters; PHOTOS: BLOOMBERG, REUTERS  -  775 words
    • 545 2  -  CPI rises seasonally adjusted 0.6%, up from June’s 0.4% By TEH SHI NING [SINGAPORE] Inflation outstripped expectations to hit 5.4 per cent in July, the fastest year-on-year hike in consumer prices since January’s 5.5 per cent. Last month’s acceleration, driven especially by larger
      545 words
    • 531 2 Investors take to the water in S’pore WATER companies and investors have been taking the plunge in Singapore, snapping up water treatment companies based or listed here. Notable among recent deals was the one on Aug 1, when S-Chip United Envirotech Technology got a $137 million investment from
      531 words
    • 433 4 Slow overseas demand sapped new orders, according to HSBC’s China Flash PMI Reuters [BEIJING] China’s factory sector is likely to slow slightly for a second consecutive month in August as sluggish overseas demand sapped new orders, HSBC’s China Flash PMI showed
      Reuters  -  433 words
    • 657 4 Measures aimed to improve operating efficiency, it says Reuters [ZURICH] Switzerland’s biggest bank UBS AG is to axe 3,500 jobs to shave two billion Swiss francs (S$3 billion) off annual costs as it joins rival investment banks in reversing the
      Reuters  -  657 words
    • 631 4 Western leaders look ahead to transition of power Bloomberg [LONDON] Libyan fighters loyal to Muammar Gaddafi battled rebel forces in parts of Tripoli yesterday as both sides claimed control of most of the capital. Rebels held eastern parts of Tripoli, two
      Bloomberg; AFP  -  631 words
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  • Page 3 Advertisements
    • 1304 3 Advertising Feature Invest in the future of healthcare As the prime Novena precinct takes shape as Singapore's top healthcare hub, medical professionals are rapidly flocking to establish a foothold in the area. Billions of dollars are being poured into developing state-of-the-art facilities in Novena, solidifying its reputation as the strongest
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  • Page 5 Advertisements
    • 304 5 ,.4 4 LI V E FOR G R E AT NESS EVERY ROLEX IS MADE FOR GREATNESS. THE SUBMARINER, INTRODUCED 1 1 > -'H ;-H v >'"• i '4;- IN 1953, WAS THE FIRST WATCH TO BE WATER RESISTANT UP TO IOO METRES. IT WAS LATER STRENGTHENED BY ITS PATENTED
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  • COMPANY NEWS
    • 500 6  -  Group’s stake falls 4.1% to 63%; OUE’s share price down 35% so far this year By JAMIE LEE LIPPO Group the controlling shareholder of Overseas Union Enterprise (OUE) has unwound a derivative transaction that was said to have possibly caused a market confusion and
      500 words
    • 392 6  -  By WINSTON CHAI SINGAPORE Telecommunications has joined hands with German software giant SAP to offer small businesses a platter of Webbased software which promises to automate their business functions in dou-ble-quick time and at a much lower cost. The package,
      392 words
    • 362 6  -  By JOYCE HOOI THE chief executive officer of Asia Environment Holdings, Wang Hongchun, has launched a bid to take the company private. Mr Wang intends to make a voluntary conditional offer for Asia Environment through a special purpose vehicle called Ciena Enterprises. Ciena has
      362 words
    • 203 6 UNITED Envirotech, which has proposed a US$113.8 million convertible bond issue, has received the in-principle approval from the Singapore Exchange to list up to about 305 million new shares in the event of conversion. The subscriber for the proposed bond issue is KKR
      203 words
    • 408 7  -  It also orders them to produce certain documents pertaining to the firm, its units By LYNETTE KHOO THE High Court of Singapore yesterday made orders for two former executive directors of Sino-Envi-ronment to appear in court and to produce certain documents. The court orders followed
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    • 324 7  -  By UMA SHANKARI SINGAPORE-LISTED real estate investment trusts (S-Reits) are trading at compelling yields compared to Singapore government bonds and utility stocks, the Royal Bank of Scotland (RBS) says in a report published on Monday. The report issued an “overweight” call on the
      324 words
    • 241 7 DONG Ye Zong, the managing director of Cosco (Zhoushan) Shipyard Group Co Ltd, a unit of Cosco Corporation (Singapore), bought 60,000 shares in the Singapore-listed firm last Friday. He bought the Cosco Corporation (S) shares at 99.5 cents apiece a low
      241 words
    • 347 7  -  By KELLY TAY DARCO Water Technologies, which was directed by the Singapore Exchange (SGX) three weeks ago to appoint new auditors to carry out another audit for financial years 2009 and 2010, has not been successful in its search so far. Darco chief executive officer Thye
      347 words
    • 1150 10  -  Pope Asset Management and APS claim firm not run in a way that is fair to minority shareholders CORPORATE FOCUS By NISHA RAMCHANDANI A LONG simmering dispute between Singapore Exchange-listed Kingboard Copper Foil Holdings (KCF) and its minority shareholders is starting to heat
      FILE PHOTO  -  1,150 words
    • 301 10  -  By MINDY TAN LION Teck Chiang yesterday reported a net profit of $18.9 million for the full year ended June 30 this year (FY2011), a 47.1 per cent increase from FY2010’s $12.9 million. Turnover for the property and steel group climbed 26.6 per cent
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    • 151 10 TECHNICS Oil and Gas yesterday announced that it has been awarded two contract engineering (CE) deals worth a total of $8.5 million. The contracts are from a Malaysian customer for the fabrication of a structural module for compressors and the construction of a power
      151 words
    • 328 10  -  By UMA SHANKARI STARHILL Global Reit units rose yesterday after Standard Chartered initiated coverage of the trust with an “outperform” rating and a target price of 81 cents. The counter also received another boost from an OCBC Investment Research report which identified Starhill
      Source: Bloomberg  -  328 words
  • Page 6 Advertisements
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  • Page 7 Advertisements
    • 16 7 Brand Your Assets Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise g your Financial Statements
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    • 201 7 Should a legend like the LANGE 1 be reinvented? That's what makes it a legend. GLASHtTTE VSA E DI L .KM'" TV* HOC EN ii n ,v^ aB Sr^. v GLASHUTTE X /SA The LANGE 1 received so many high-ranking awards, in particular for its asymmetric dial and the patented
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  • SINGAPORE MARKETS
    • 498 8  -  China manufacturing data, QE3 hopes help index to close 33 points higher after morning loss STOCKS JOYCE HOOI Reporter THE Straits Times Index (STI) broke its five-day losing streak yesterday, as the market clutched at less-gloomy data in the afternoon and crossed its fingers for
      Source: Bloomberg  -  498 words
    • 114 8 Stock name Close Change CapMallsAsia 1.195 +0.030 CapitaLand 2.440 +0.010 CapitaMall 1.735 -0.005 CityDev 10.190 -0.010 ComfortDelGro 1.305 -0.005 DBS Grp 13.430 +0.070 F&N 5.660 +0.140 GLP 1.620 +0.015 Genting SP 1.525 +0.025 Golden Agri 0.645 +0.005 HK Land 5.560 +0.140 JMH 49.550 +1.080 JSH 29.220
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    • 186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 4 4 0 0 0 8 4 4 Manufacturing 82 35 35 7 3 4 89 38 39 Commerce 23 18 16 5 3 2 28 21 18 Tpt/Stor/Comms 33 4 5
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    • 122 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 36,820 36,820 111,135 111,135 Manufacturing 200,205 14,610 214,815 188,135 217 188,352 Commerce 265,029 5,360 270,389 219,146 566 219,712 Tpt/Stor/Comms 221,219 1,736 222,955 290,795 158 290,954 Finance 19,305 50 19,355 206,528 11 206,539 Construction 28,800 5,859
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    • 4 8 DAILY
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    • 66 8 Aug 23 VALUE CLOSE BT OB/OS -762.00 +684.0 BT CADI -*****.00 +196.0 BT 10-day MA -*****.00 -76.00 FTSE ST Mid Cap 635.84 +6.29 FTSE ST Small Cap 427.80 +6.78 FTSE ST All Share 668.71 +7.99 FTSE ST China Top 200.19 +1.51 FTSE ST China 235.39 +1.74 FTSE
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    • 62 8 VOLUME Sheng Siong 137,966,000 Genting SP 112,249,000 Golden Agri 77,949,000 HPH Trust US$ 51,975,000 Noble Grp 48,121,000 GMG Global 46,965,000 SingTel 34,811,000 Cosco Corp 32,187,000 Yangzijiang 31,800,000 *Genting HK US$ 30,376,000 VALUE($) Genting SP 170,103,325 SingTel 102,546,654 Keppel Corp 83,409,310 DBS Grp 79,251,890 Noble Grp 65,825,497 Olam
      62 words
    • 431 8 CURRENCIES Reuters [NEW YORK] The euro rallied yesterday as better-than-expected German and Chinese factory data calmed some concerns about slowing global growth. Commodity-linked, growth-sensi-tive currencies such as the Australian and New Zealand dollars gained ground, too, while the US dollar was hobbled by
      Reuters; REUTERS  -  431 words
    • Article, Illustration
      436 8  -  by Kim Eng Research Price breakdown It is obvious that the stock has staged a price breakdown below its channel formation and is trading below the key moving averages. It could continue to press lower towards its immediate support near $13.00. A break below this level would signal a
      436 words
    • 112 8 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 259.7 2.0 IS S&P500 ***** 241.7 1.8 DBXT MSKorea 10US$ 5172 223.7 3.7 IS DJ US Tech 5728 137.1 2.0 JMH 4955 129.9 2.2 DBXT E50 10US$ 3553 117.8 2.8 DBXT MSEurope 10US$ 4128 115.4 2.4 DBXT MSAsExJp 10US$ 2971 105.8
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    • 128 8 BY CENTS CLOSE DOWN DBS Bk 4.7% NCPS 100 *****-150.0 -1.4 GLD 10US$ ***** -91.4 -0.4 Asia Pac Brew 2600 -83.0 -3.1 DBS.ES.1108 1325 -58.0 -4.2 DBXT S&P Short 10US$ 4750 -51.7 -0.9 SIA.ES.1108 1058 -48.0 -4.3 Great Eastern 1300 -38.0 -2.8 DBXT MSAXJHDY 10US$ 141.9 -30.4 -15.1 Lyxor
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    • 5 8 DAILY
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  • Page 9 Advertisements
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  • Page 10 Advertisements
    • 288 10 ALMATY Seoul Beijing Bangkok Kuala Lumpur < Air Astana connects Far South East Asia to Kazakhstan 12 times a week (5 times a week from Beijing, 2 times a week from Seoul, 3 times a week from Bangkok, twice a week from Kuala Lumpur). Air Astana serves Kazakhstan from major
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  • SINGAPORE NEWS
    • 599 11  -  They address questions over transfer of public sites in Aljunied GRC to PA PRESIDENTIAL ELECTION 2011 By LEE U-WEN THE furore over the transfer of public sites in the Workers’ Party (WP)-run Aljunied GRC (group representation constituency) to the People’s Association (PA) was addressed
      599 words
    • 514 11  -  I’ll also present an annual report on my presidency, he says By CHUANG PECK MING KICKING off the first presidential election rally last night, candidate Tan Jee Say pledged that, if elected, he would make the office more transparent
      NEO XIAOBIN/THE STRAITS TIMES  -  514 words
    • 552 12  -  Key underground power transmission network could cost billions of dollars By RONNIE LIM SINGAPORE’S bid to build an extra-high-voltage underground power transmission network potentially costing billions of dollars is understood to have attracted lots of interested contractors. “They are in the dou-ble-digits,”
      552 words
    • 297 12  -  By UMA SHANKARI THE occupancy level for JTC’s ready-built facilities (RBF) dipped slightly to 97 per cent in Q2 2011 from 97.2 per cent in Q1 2011 as terminations outstripped gross allocations. But while the net allocation (which is the difference between gross
      297 words
    • 784 12  -  By KALPANA RASHIWALA IT has been taking longer to stitch investment sales deals for office blocks in recent months due to owners’ asking prices running ahead of the market, say property consultants. According to Cushman Wakefield, the average time on the market
      FILE PHOTO  -  784 words
    • SINGAPORE ROUNDUP
      • 64 12 ASCENDAS celebrated its 10th anniversary with a dinner and charity auction, raising $31,500 for Very Special Arts Singapore (VSA) last week. For 2011, Ascendas has to date raised more than $100,000 for charity including $57,000 for the Movement for the Intellectually Disabled of Singapore
        64 words
      • 50 12 MANULIFE (Singapore) yesterday launched the second wave of a major branding campaign in Singapore aimed at strengthening consumer brand awareness. The campaign will run for four months across outdoor, print and Internet channels. Manulife launched its first island-wide branding campaign in November last year.
        50 words
      • 86 12 A MICRO fins system for heat dissipation developed by a team from the National University of Singapore’s department of mechanical engineering has been selected to be among the top 10 at the CTSI (Clean Technology and Sustainable Industries Organisation) Defense Energy Technology
        86 words
    • 439 12  -  Policymakers must focus on structural improvements By TEH SHI NING ASIA needs to create jobs of higher quality and improve its social safety nets, if its rapid growth over the past two decades is to be sustained. Hence “despite
      439 words
  • Page 11 Advertisements
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  • Page 12 Advertisements
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    • 19 12 o Grow Your Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices ATci NOTICES
      19 words

  • ECONOMY WATCH
    • 536 13 Investors eyeing promise in postGaddafi Libya Reuters [LONDON] Investors peering through the receding fog of war will find plenty of promise and a few pitfalls in a post-Gaddafi Libya. If peace takes hold in Africa’s largest oil producer after a six-month civil war, the long-dormant economy could rapidly flourish provided
      Reuters; REUTERS  -  536 words
    • 457 13 Traders await Bernanke’s speech on Friday for hints Reuters [TOKYO] The Federal Reserve could buy more bonds or make a commitment on the size of its balance sheet if the economy weakens and deflation reappears, though the time is not yet right
      Reuters  -  457 words
    • 388 13 AFP [SYDNEY] Australian Treasurer Wayne Swan yesterday refused to intervene to prevent the local dollar’s surge and help ailing manufacturers, but said that he would examine claims that top miners were opting for Chinese products. He said that Canberra was “committed to
      AFP  -  388 words
    • 576 13 Composite index holds at 51.1; sign that recovery is losing momentum Bloomberg [LONDON] European services and manufacturing growth held steady in August at the slowest pace in almost two years, adding to signs that the euro-region recovery is losing momentum as the sovereign debt
      Bloomberg  -  576 words
  • Page 13 Advertisements
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  • MALAYSIA/INDONESIA
    • 585 14  -  It unveils plans to boost development of gas fields, build new 200km pipeline By PAULINE NG in Kuala Lumpur MALAYSIA’S Petronas is planning to address a dire shortage of natural gas supply in the peninsular by fast tracking the development and production of
      REUTERS  -  585 words
    • 405 14 HwangDBS Vickers, OSK Research rate it as a ‘buy’ Bloomberg [KUALA LUMPUR] Sunway Bhd, Malaysia’s fourth-larg-est property developer by market value, fell 13 per cent on its Kuala Lumpur stock market debut after acquiring and merging two property and construction companies controlled by
      Bloomberg  -  405 words
  • Page 14 Advertisements
    • 1274 14 WATS NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg 1 Bank of India <%£ Cations hip 6eyoncC 6an^ing Head Office: Star House, C-5 G Block, Bandra-Kurla Complex, Bandra (East), Mumbai- *****1, India. Singapore: The Corporate Office, 138 Robinson Rd, #01-01, 02-01, 03-01, Singapore *****6 FINANCIAL STATEMENTS AS AT 31 ST MARCH 2011
      1,274 words
    • 1624 14 MATS ok* NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg o Wcfhr itz IFF STATE BANK OF INDIA (Incorporated in India) Corporate Centre: Mumbai 400 021., India CONSOLIDATED BALANCE SHEET AS ON 31ST MARCH 2011 CONSOLIDATED PROFIT LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2011 INCOME Interest earned Other Income TOTAL
      1,624 words

  • GREATER CHINA/INDIA
    • 564 15 Bloomberg [MUMBAI] HSBC Holdings Plc, Europe’s largest bank by market value, said rival lenders poaching its bankers in India is pushing up wage costs that were already exacerbated by the nation’s high inflation. The competition is acute in investment banking where “there’s only a limited
      Bloomberg; BLOOMBERG  -  564 words
    • 492 15 Shipments in China rose 14% to 18.5m units in Q2, while in the US it was 17.7m Bloomberg [BEIJING] China probably overtook the US as the largest personal-computer market last quarter, after three decades of American dominance in an industry pioneered
      Bloomberg  -  492 words
    • 182 15 EJ Insight [HONG KONG] China has issued a consultative document on draft rules that will allow foreign companies to invest offshore renminbi funds in mainland projects, marking another significant step to promote the global use of its currency in trade and finance.
      EJ Insight  -  182 words
    • 393 15 Sales hurt after Beijing cuts small car tax incentives Reuters [HONG KONG] BYD Co Ltd, a Chinese carmaker backed by US billionaire Warren Buffett, reported an 89 per cent plunge in first-half net income as government policy changes hurt its car sales. The
      Reuters  -  393 words
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  • WORLD
    • 534 16 Cost to insure bonds of 25 banks, insurers has doubled to records since April Bloomberg [LONDON] European banks will have to pay up first before they can borrow more than US$100 billion by year end because investors perceive them as
      Bloomberg  -  534 words
    • 553 16  -  He says sister, PM Yingluck, can run country without him By ANTHONY ROWLEY in Tokyo FORMER Thai prime minister Thaksin Shinawatra declared in Tokyo yesterday that he is willing to return to Thailand “urgently” if he can be “part of the solution” to
      BLOOMBERG  -  553 words
    • 222 16 AFP [MASSACHUSETTS] US President Barack Obama on Monday reached out to respected business figures Warren Buffett and Ford chief Alan Mulally as he framed a major new plan on jobs and the deficit. Mr Obama made the calls from his rented vacation farm house on
      AFP  -  222 words
    • 77 16 Artist Johan Andersson poses alongside his painting of British singer Amy Winehouse at the Lock Tavern in London’s Camden Town yesterday. The painting will be exhibited in the London Underground station at Camden Town, the area where Winehouse, who died recently at the age of 27,
      AP  -  77 words
    • 494 16 It aims to double its purchases to 20 this year from last year Bloomberg [SAN FRANCISCO] Facebook Inc, the world’s largest social network, is planning acquisitions that will improve site design, keep its service reliable and advance mobile features to stave off competition
      Bloomberg  -  494 words
    • 387 16 It’s considered a crime if he used a union credit card to pay for prostitutes Reuters [CANBERRA] Australian police said yesterday that they were investigating whether a government MP committed a crime by allegedly misusing a union credit card to pay for prostitutes an
      Reuters  -  387 words
    • 599 17 Govt to approve new measures to stimulate labour market: premier Reuters [MADRID] Spain plans to put a constitutional cap on public debt before elections in November, part of a latest raft of measures aimed at proving it has its finances under control.
      Reuters; AP  -  599 words
    • 548 17 Bloomberg [NEW YORK] Former International Monetary Fund chief Dominique Strauss-Kahn’s sexual assault case was dismissed yesterday by a Manhattan judge at the request of prosecutors. Prosecutors said Mr Strauss-Kahn should not be tried because his accuser told too many lies about the alleged attack. The
      Bloomberg; REUTERS  -  548 words
    • 448 17 2011 sales numbers expected to dip to 50-year low LATEST US DATA AP Bloomberg [WASHINGTON] The number of Americans who bought new homes fell for the fourth straight month in July, putting sales on track to finish this year as the worst
      AP; Bloomberg  -  448 words
    • 423 17 AP [ATHENS] Greece’s finance minister said on Monday that the crisis-afflicted economy will shrink more than expected this year, putting further pressure on the country’s ambitious defi-cit-cutting effort. Evangelos Venizelos said the ministry forecasts annual output to shrink in 2011 between
      AP  -  423 words
    • 425 17 Reuters [TOKYO] Unpopular Japanese Prime Minister Naoto Kan yesterday confirmed that he would step down as head of the ruling party this week if two key bills were enacted, clearing the way to choose a new leader to cope with Japan’s nuclear
      Reuters  -  425 words
  • Page 16 Advertisements
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  • Page 17 Advertisements
    • 22 17 The Businessof Time The BT Watch Supplement 2011 is thicker and comes in two sections. Get your copy with BT this Friday.
      22 words
    • 257 17 rj KAra ifc NOTICES IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF AALBORG INDUSTRIES WATER TREATMENT PTE. LTD. (IN COMPULSORY LIQUIDATION) CO. REG. NO. *****0852H COMPANIES WINDING UP NO. 74/2011/T NOTICE IS HEREBY GIVEN that the creditors of the abovenamed Company, which is being
      257 words

  • EDITORIAL & OPINION
    • 501 18 EDITORIAL IT’S a sure sign that the political pace in Taiwan is picking up when the political debate turns to economic credentials of the two contenders. Thus, the latest issue to gain traction in Taiwan’s presidential race is: Which party has a better
      501 words
    • 838 18  -  THE BOTTOM LINE DAVID MASON The writer, a former partner with Price Waterhouse Singapore, is a UK-based business communications consultant. His email is david.mason466@btinternet.com THE world has had a wonderful time with the recent riots, especially Iranian and Russian television and the residents of
      838 words
    • 1000 18  -  But its confidence in US economy may be affected if Moody’s, Fitch also downgrade America By SANCHITA BASU DAS The writer is lead researcher for economic affairs at the Asean Studies Centre, Institute of Southeast Asian Studies. These are her personal views LESS
      BLOOMBERG  -  1,000 words
    • 2516 19  -  Throughout the current debt crisis, eurozone leaders and policymakers have been doing too little, too late By CHARLES WYPLOSZ The writer is professor of international economics at the Graduate Institute, Geneva and director of the International Centre for Money and Banking Studies This commentary was
      AP  -  2,516 words


  • TransportHUB
    • 470 20  -  PIL used SSF to buy two containerships, bringing number of deals done to 55 By JOYCE HOOI SLIGHTLY more than eight months since it was launched, the Singapore Ship Sale Form (SSF) is gathering more traction. Pacific International Lines (PIL) has become the
      470 words
    • 662 20 Reuters [LONDON] There is no immediate prospect of removing Libya from a list of areas deemed high risk by London’s marine insurance market, and underwriters will seek a stable period in the country before looking at a delisting, a market official said on
      Reuters; REUTERS  -  662 words
    • 312 20 Reuters [LONDON] Refined petroleum tanker rates were mixed on Monday with the smaller Long Range 1 tanker market enjoying the biggest gains helped by continued cargo bookings and tight availability. Long Range 1 tankers, carrying 55,000-tonne loads, were at W144.69, from W144.04 on Friday and
      Reuters  -  312 words
    • 801 20  -  Innovation and technology will be the focus of the industry at SmartShipping in October STRAIT TALK By DAVID HUGHES I HAVE not made any attempt to measure this in any scientific way but it seems that many more press releases about innovations are crossing
      801 words
    • 285 20 Bloomberg [LONDON] The cost of hauling iron ore, coal and other dry bulk commodities by sea jumped to a four-month high on strengthening Chinese demand. The Baltic Dry Index advanced 3.6 per cent to 1,515 points, the highest since April, Baltic Exchange
      Bloomberg  -  285 words
    • 281 20 SGX '000 Aug 23 S$ +/-Vol CH Offshore 0.36 0.03 103 Chuan Hup Hldg 0.21 0.01 1509 Cosco Corp 1.02 -0.01 ***** CWT Ltd 1.06 0.02 1090 Ezra Hldgs 0.97 0.02 ***** First Ship Lea 0.27 0.01 879 Freight Links 0.06 unch 1151 Grand Banks unch unch 0
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    • TRANSPORT HUB: AVIATION
      • 454 21 Reuters [WELLINGTON] New Zealand’s biggest airport, Auckland International Airport Ltd, yesterday reported a strong lift in annual profit in line with expectations on higher passenger numbers and retail sales, and said that it expected further growth this year. The company, which handles nearly
        Reuters  -  454 words
      • 613 21 The US$8.6 billion deal comes as a boost to American planemaker Bloomberg [ATLANTA] Delta Air Lines Inc plans to order 100 Boeing Co 737 single-aisle jets, a rebuff to Airbus SAS, as it refreshes its fleet with planes valued at US$8.58 billion, two people
        Bloomberg; AFP  -  613 words
      • 591 21 Bloomberg [SYDNEY] Qantas Airways Ltd said its planned Asian carrier will have cabins more luxurious than those on the group’s flagship Airbus SAS A380s as it tries to lure fliers from Singapore Airlines Ltd. “This will be a top premium
        Bloomberg; AFP  -  591 words
      • 596 21 Bloomberg [NEW YORK] Travelport Ltd, the travel-reservation system provider owned by Blackstone Group LP, is in jeopardy of breaching the terms of a loan as rising compensation costs and airline consolidation curtail profit. The company’s bonds fell after it reported a decline in second-quarter
        Bloomberg  -  596 words
    • TRANSPORT HUB: LAND
      • 382 22  -  Keen competition resulting in price-cutting among insurers By SAMUEL EE MOTOR insurance claims for the second quarter of 2011 fell 0.7 per cent to $193.9 million, from $195.2 million in the corresponding period in 2010, according to the General Insurance Association of
        382 words
      • 736 22 Bloomberg [BERLIN] Audi AG is hiring staff to increase car production, including a 57 per cent capacity boost for the 69,600 euro (S$121,170) A8 flagship sedan, on expectations that the luxury car industry will weather the stock market slump. “We’re extremely busy at the
        Bloomberg; REUTERS  -  736 words
      • 928 22 Bloomberg [DEARBORN, Michigan] Ford Motor Co and Toyota Motor Corp, the world’s biggest seller of petrolelectric vehicles, plan to collaborate to develop a hybrid system for pick-up trucks and sport-utility vehicles (SUVs) as US fuel-econ-omy rules tighten. The carmakers reached
        Bloomberg  -  928 words
      • 671 22 Reuters [NEW YORK] US crude oil shipments by railway could help to end gaping price distortions in world oil markets faster than most traders have been expecting. Rail shipments of crude from the landlocked and oversupplied Midwest to refiners
        Reuters  -  671 words
  • Page 20 Advertisements
    • 14 20 Three platforms for Guangdong economic restructuring Shenzhen's Qianhai, Zhuhai's Hengqin and Guangzhou's Nansha Tosubscribe,call6388-3838orgotosphsubscription.com.sg
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  • Page 21 Miscellaneous
    • 299 21 CRYPTIC CROSSWORD Across 1 Feeling not right in the head? (12) 8 One’s used to dry song by Queen (5) 9 Fluid end with legato stretched out (9) 11 Common European standard (9) 12 Tory leader goes off for jogs (5) 13 Bar in club containing case of Edelzwicker (9)
      299 words


  • SINGAPORE STOCKS
    • 8248 23 Transaction date: Aug 23 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 12 8Telecom 12.8 11.3 13.5 7.8 4.8 2.7 61.3 9.5 4.5 A-Sonic 4.9 -0.1 45 5 4.9 4.9 5.2
      8,248 words
    • 1545 24 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 34 14 t 800 Super 14.2 +0.1 90 14.2 14.2 14 14.3 4.9 25.4 5.5 3.7 t AA Grp 4 2.5 4 19 3.9
      1,545 words
    • 10054 24 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.2/ APS Alpha Fund (USD)!** 0.99/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM -Talents Fund 0.59/ Aberdeen Asset Mgt Asia Limited American Opp 0.5374/ Asian Credit Fund
      10,054 words
    • 226 24 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 34 AVJennings A39cd 38.5 41.5 3.6 9 3.1 101.6 55 27.5 Genting HK US$ US33.5 +3.5 ***** 33.5 30 33 33.5 2205.8 21 10 OGL Resources
      226 words
    • 905 24 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 127 108 ABF SG Bond ETF 126 115 125 575.2 1261 912 CIMBAsean40 100US$ US1008 -4 12 1008 1007 1017 1027 40.3 350 276 DBS STI
      905 words


  • FINANCE & COMMODITIES
    • 374 25 In local curr In S$ In US$ dy yr dy yr dy yr Aug 22 Index Change Change Change Change Change Change World Index Preliminary 771.2 0.2 -14.1 0.1 -16.6 0.0 -11.6 EAFE Preliminary 655.1 0.3 -18.2 0.0 -17.8 -0.1 -12.9 Europe Preliminary 948.2 0.9
      374 words
    • 95 25 CRUDE OIL PRODUCTS 1.439 76.76 1.4409 Aug 22. 1.6414 1.6411 1.6413 1.6414 1.0523 1.0424 1.052 1.0433 8982 8809 8947 179 177 178 176.8 CRUDE (FOB origin). US$/barrel Close Change Brent blend (1-Mth F) 107.**********7 -0.8980 WTI (Near Mth) 84.52 2.12 Dubai (1-Mth F)9177 102.0078 0.***** Tapis blend 113.42 0.21 Minas
      95 words
    • 135 25 Sep-11 1.4396 Sep-11 Sep-11 1.4508 Aug 22-11 Euro-US Dollar Cash Sep-11 1.4508 GBP-US Dollar Sep-11 1.6414 Aust-US Dollar Sep-11 1.0523 BASE METALS Copper Cash Sep-11 INDEX MBIO Index Futures Aug-11 SOYBEANS (5,000 bu min; US cents/60 lb bushels)Aust-USDollarSep-1 Close Previous High/LowSEMETALS Sep 11 1376.50 1359.75 1379.50 1362.25pperCashSep-11 Nov
      135 words
    • 83 25 Aug 23 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****F 24.11.2011 0.13 0.09 0.09 1-Year BY*****X 02.05.2012 0.16 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 103.96 104.00 104.00 5-Year N*****0W 1.125 01.04.2016 102.71
      83 words
    • 454 25 Aug 23 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Sep11 99.5975 0 2612 Dec11 99.3850 0 3500 Mar12 99.4150 0 1371 Jun12 99.4600 0 524 EUROYEN TIBOR FUTURES Sep11 99.6825 0 1229 Dec11 99.7200 182 2002 Mar12 99.7275 0 2383 Jun12 99.7250 0 1376 Sep12 99.6450
      454 words
    • 156 25 Aug 23 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Sep 11 461.0 460.0 461.0 8 314 Oct 11 549.5 459.0 461.8 16 370 Nov 11 462.5 374 Dec 11 463.8 498 Jan 12 465.5 461.0 465.2 8 384
      156 words
    • 96 25 As on 22 August 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 1894.90 1860.70 1887.30 1850.20 Silver Sep-11 44.005 42.530 43.040 42.435 CURRENCY US Dollar-Jap Yen Sep-11 76.80 76.68 76.77 76.2
      96 words
    • 121 25 As at 9am Aug 23 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.298 1.225 Can dollar 1.242 1.195 Euro 1.768 1.7 Sterling pound 2.025 1.948 NZ dollar 1.021 0.973 US dollar 1.225 1.178 Local dollars to 100 units of foreign
      121 words
    • 28 25 Aug 23 Aug Open High Sett STI Aug 2764 SIMSCI Aug 313.8 320.5 317.4 Taiwan Aug 254.3 265.2 263.7 Source: MF Global (S) Pte Ltd
      28 words
    • 2464 25 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 25 1 150 40 5.00 33 ASJ Hldgs W*****1 0.5 1 4 29 7.00 6 AlliedTech W*****2 1.7 1 4 27 Aztech Grp W*****3 0.5 1 20 78
      2,464 words
    • 154 25 Aug 23 $S Offer Bid 0vernight 0.01 par 1-month 3/16 1/16 2-months 3/16 1/16 3-months 1/4 1/8 Overnight mode: 0.15 US$ Offer Bid 7 days 0.30 0.20 1 month 0.45 0.25 2 months 0.50 0.30 3 months 0.55 0.35 6 months 0.70 0.50 9 months 0.85 0.65 12
      154 words
    • 463 25 Aug 23 Aug A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.036 6.730 0.726 8.201 47.991 89.839 0.806 11.317 3.120 1.261 91.437 44.520 1.265 7.527 0.827 30.480 31.387 0.635 1.052 Canada 0.965
      463 words
    • 85 25 Aug 23 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths -0.***** 9 mths -0.***** 12 mths
      85 words
    • 156 25 Aug 23 Against US$ Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2644 1.2656 1.0516 1.0521 Canadian dollar 1.2201 1.2213 1.0147 1.0153 Euro 1.7413 1.7423 1.4482 1.4484 NZ dollar 1.0024 1.0036 0.8337 0.8343 Sterling pound 1.9907 1.9920
      156 words
    • 22 25 Aug 23 S$ Bid Offer 1-month 1.2022 1.2029 2-months 1.2019 1.2027 3-months 1.2015 1.2024 6-months 1.1980 1.1993 Source: OCBC
      22 words
    • 142 25 Aug 23 GOLD (US$/oz) Aug 22 Aug 23 Hong Kong 1889.00 1881.20 Aug 19 Aug 22 London 1852.70 1884.60 1853.70 1885.60 Source: Thomson Reuters CAST BAR Aug 23 (S$) Selling Buying Kilobar 78,932.83 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 177 74 5gm 502 368 10gm 897
      142 words
    • 71 25 Aug 22 Aug 22 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2300.50 2320.50 3 months 2337.00 2355.00 Copper, Grade A (US$/tonne) Cash 8699.75 8804.50 3 months 8720.00 8825.00 Lead (US$/tonne) Cash 2263.50 2306.50 3 months 2261.00 2302.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
      71 words
    • 65 25 Aug 23 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 11 3135 3161 3161 3135 786 4857 Oct 11 3065 3104 3104 3065 1962 ***** Nov 11 3033 3068 3070 3030 ***** ***** Dec 11 3020 3054
      65 words
    • 83 25 Aug 22 Aug COCOA (£/tonne) Close Prev High/Low Sep 11 1906 1871 1909/1877 Dec 11 1917 1889 1921/1894 Mar 12 1935 1908 1937/1914 May 12 1940 1917 1942/1921 COFFEE (US$/tonne) Close Prev High/Low Sep 11 2316 2270 2323/2278 Nov 11 2345 2300 2350/2306 Jan 12 2358 2318 2361/2327 Mar
      83 words

  • 5162 26 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN Camden/New Orleans/Tampico Destination
    5,162 words
  • Page 26 Advertisements
    • 41 26 Experienced ship maintenance services wanted. Can they find your services here in the Shipping Times? PLACE YOUR AD HERE THE BUSINESS TIMES SHIPPING TIMES CALL JOE WONG AT 9620 1327 To All Shipping Advertisers: Please call Joe Wong at 9620 1327
      41 words


  • Page 28 Advertisements
    • 800 28 Invest ETFs in U.S. Market with E*TRADE! COMMISSION FROM AS LOW AS us$9.99 PER TRADE* More ETFs Choices, More Opportunities in U.S. Market! International Indices Emerging Markets Metals Energy DIA IWM QQQQ SPY EWJ EWT EWU EZU FXI EDC/EEM/VWO/DGS GLD SLV PPLT PALL SLX PKOL KOL XLE PBD PBW NLR
      800 words

  • Page 29 Advertisements
    • 203 29 Gold finds support and breaks resistance? Commodities S AXO CAPITAL MARKETS Chart fk GOLDcont v Customize Weekly v Candlestick I Update https Z/www saxomobilotrad 1,610.27 rl i Seize the (5) opportunities. I FX Crosses FX Options I Seize the opportunities with Saxo: Trade Gold 'Live' with spot, futures and CFDs
      203 words

  • executive Money
    • 983 30  -  Professor presents mathematical model for ‘jumps’, advises investors to decide on investment policy before any crisis, reports GENEVIEVE CUA reports GENEVIEVE CUA AS grave uncertainties roil markets, some in the academe are working to model financial crises and the domino effect that can ensue, as
      Source: Ait-Sahalia, Cacho-Diaz and Laeven, “Modeling Financial Contagion Using Mutually Exciting Jump Processes”, Working Paper, Princeton University  -  983 words
    • 856 28 Analysts studying technical analysis tools say that bullion prices may be set to decline after record rally Bloomberg [LONDON] Gold’s rally to a record above US$1,900 an ounce has pushed the metal to overbought levels according to technical analysis tools, as economist Dennis
      Bloomberg; AP  -  856 words
    • 770 28 NYT [NEW YORK] Amid all the grim economic data and a chorus of warnings of a fresh recession, one group on Wall Street has remained remarkably optimistic despite the dangers that may lay ahead: the research analysts who track individual companies.
      NYT  -  770 words
    • 1455 29  -  Beware while value-investing may seem easy, human frailty often turns it into ‘unconscious speculation’ MONEY MATTERS WILLIAM CAI The writer is vice-president deputy investment head at GYC Financial Advisory IN THE third quarter of 2010, a slew of positive economic data was evident
      AP FILE PHOTO  -  1,455 words
  • Page 30 Advertisements
    • 98 30 Deutsche Bank db.com Central to Asia’s flow markets. Best Global Flow House Euromoney Awards for Excellence 2011 No. 1 Euro USD Rates Euromoney Rates Survey 2011 No. 1 Overall Asian Fixed Income Greenwich Associates Share Leader Awards 2010 Over 20% market share Asia FX Euromoney FX Poll 2011 This advertisement
      98 words