The Business Times, 29 August 2011

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Total Pages: 31
1 32 The Business Times
  • 23 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg Sfh A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 120/08/2011 Monday, August 29,
    23 words
  • 840 1  -  President-elect worried about global economy, hopes his experience will help S’pore By LEE LEE U-WEN By LEE U-WEN [SINGAPORE] Presidentelect Tony Tan hopes that his victory at last Saturday’s polls will assuage fears among both Singapore’s business leaders and overseas investors of the
    JOSEPH NAIR FOR THE STRAITS TIMES  -  840 words
  • 158 1 BT ONLINE BT print subscribers get free access to BT Online at www.businesstimes.com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838. MARKETS Weekly Change ST INDEX 2,748.18 +14.55 KL COMP 1,444.81 -39.17 NIKKEI 225 8,797.78 +78.54 HANG SENG 19,582.88 +182.96 SET INDEX 1,037.22 -31.98 JAKARTA COMP 3,841.73 -1.02
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  • 905 1  -  Analysts cite weaker sentiment over global economy By KALPANA RASHIWALA [SINGAPORE] Development charges, payable to the state in exchange for the right to enhance the use of certain sites or to build bigger projects on them, are expected to head north from
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  • Page 1 Advertisements
    • 200 1 DINING OUT Sleek new kid on the block PAGE 26 VIEWS FROM THE TOP Investing even in troubled times PAGES 12-13 BizIT ST Engineering strikes innovation balance PAGE 32 YOUNG INVESTORS’ FORUM Time to invest in watches? PAGE 14 More reports on pages 2 and 4 8 *****1 *****4 IWC
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  • TOP STORIES
    • THREE-MINUTE DIGEST
      • 95 2 PRESIDENT-ELECT Tony Tan hopes that his victory at last Saturday’s polls will assuage fears among both Singapore’s business leaders and overseas investors of the Republic’s economic stability in an increasingly uncertain climate. The former deputy prime minister also promised to try and unify
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      • 92 2 DEVELOPMENT charges, payable to the state in exchange for the right to enhance the use of certain sites or to build bigger projects on them, are expected to head north from Sept 1, based on the increases in land values over most
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      • 47 2 THE search for an operator for the underground Jurong Rock Cavern oil storage will resume soon, with JTC Corporation expecting to call a re-tender for this in October, JTC director Heah Soon Poh, told BT. TOP STORIES, PAGE 2
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      • 65 2 PROPERTY stocks are now trading at discounts of up to 48 per cent off their revalued net asset values after taking a beating in recent weeks. The discounts could grow even wider as share prices may fall further in coming weeks if
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      • 67 2 INVESTMENT holding and broking firm GK Goh Holdings will sell part of its stake in property group Eastern Oriental Berhad to Sime Darby Berhad for RM243.8 million. GK Goh will sell 9.6 per cent of Malaysia-listed E&O’s fully diluted issued share capital, comprising
        67 words
      • 68 2 THE new head of the IMF has called on global policymakers to pursue urgent action, including forcing European banks to bulk up their capital, to prevent a descent into a renewed world recession. “The stakes are clear; we risk seeing the
        68 words
      • 79 2 CHINESE industrial companies’ profits rose 28.3 per cent in the first seven months from a year earlier, helping to support the expansion of the world’s fastest-growing major economy. Net income climbed to 2.8 trillion yuan, the National Bureau of Statistics said. That compares
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      • 82 2 THE global oil tanker fleet will expand almost three times more quickly than demand this year, according to Clarkson Research Services Ltd, a unit of the world’s largest shipbroker. Demand will climb 2.7 per cent as the fleet of 5,600
        82 words
    • 448 2  -  JTC expects to call for bids to operate underground oil storage in October By RONNIE LIM [SINGAPORE] The search for an operator for the underground Jurong Rock Cavern (JRC) oil storage will resume soon, with JTC Corporation expecting to call a re-tender for this in October,
      448 words
    • 607 2  -  COMMENTARY By ANNA TEO AT first glance, it would seem that the results of the presidential election give a fairly accurate picture of where Singaporeans stand across the political spectrum more so, anyway, than the general election (GE) in May did. Those who extrapolated from
      607 words
    • 1345 4  -  New president well equipped to help as Singapore steers through global crisis By MICHELLE QUAH [SINGAPORE] The man who proclaimed his “confidence for the future” has now been gifted with the powers of his office to make good on that claim. The “prophetic
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    • 552 4  -  By TEH SHI NING [SINGAPORE] After narrowly losing the presidency to Dr Tony Tan, Dr Tan Cheng Bock yesterday pledged to remain politically neutral but said he would find other means to help unify Singaporeans. “I’ll always be in the scene,
      552 words
  • Page 2 Advertisements
    • 98 2 X i Simply connected We don't just offer professional advice: our uniquely collaborative approach means we cut through complexity to connect you to expert insights and unique perspectives. We offer a broad range of seamless solutions across audit, tax, risk management, financial advisory and consulting to offer you the depth,
      98 words
    • 539 2 Exotic Options and Structured Forwards Date 15 16 September 2011 Time 9.00am to 5.00pm Venue Orchard Hotel Singapore Seminar Fees Client S$918 per participant KPMG Alumni S$918 per participant Non-client S$1048 per participant Group discounts are available for multiple sign-ups from the same organisation: Enjoy 5% discount for two or
      539 words

  • Page 3 Advertisements
    • 79 3 /> You never actually own a Patek Philippe. You merely look after it for the next generation. v i A, PATEK PHILIPPE GENEVE Begin your own tradition. \.K i f' 5 inm 'si 4 s. Hire PP tut V f J iSto XV y «*> w+ r* k D. ■V!
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  • Page 4 Advertisements
    • 399 4 Tsinghua-BCA Advanced Management Programme 2011 Recent Real Estate Development and Management in China Policies, Development and Opportunities in China's 1 st and 2 nd Tier Cities if 10-15 October 2011 The Tsinghua-BCA Advanced Development Programme, which was launched in 2002, provides an excellent platform for influential decision makers from Singapore
      399 words

  • Page 5 Advertisements
    • 489 5 I r o <3 S 11 1 (K K S3 £12 £3. -V '7 i m ■ssr 1 4 5 6 7 8 9 L Jv 5 I Empower your unique lifestyle at the euHabitat SOHOS euHabitat SO H O III! 'jL m rx M r H mmm is»» M?!
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  • COMPANY NEWS
    • 618 6  -  Discounts of up to 48% may grow bigger if analysts cut their expectations By UMA SHANKARI PROPERTY stocks are now trading at discounts of up to 48 per cent off their re- valued net asset values (RNAVs) after taking a beating in recent weeks.
      618 words
    • 361 6  -  Deal is at a 58.6% premium to last traded price By UMA SHANKARI INVESTMENT holding and broking firm GK Goh Holdings will sell part of its stake in property group Eastern Oriental Berhad (E&O) to Sime Darby Berhad for RM243.8 million (about $99.1
      361 words
    • 666 6 Bloomberg [LONDON] Manchester United may rely on Asian fans buying shares with their hearts, rather than their heads, as the 19-time English soccer champion plans a US$1 billion initial public offering in Singapore. Analysts and fans say the sale
      Bloomberg  -  666 words
  • Page 6 Advertisements
    • 1172 6 DB Platinum Branchen Stars R1C-A 22/08/11 127,01 EUR db X-MACRO Trading Index Fund I4D 18/08/11 100,04 GBP Head to CATS FASTADS in The New Paper for education options! BBAT3 I The Norinchukin Bank (A bank organised in Japan) Consolidated Balance Sheets As of March 31, 2011 and 2010 Millions ofYen
      1,172 words
    • 244 6 LUXURY TOURS TRAVEL PTE LTD The Leading Operator Established 1985 W; "Fullfitting your requirments with finesse" Our experienced team of planners takes charge right from the start. We offer you the best venues available, suggestions settings. These include transportation, meals, sightseeing tours tourist guides. Our services at a glance Incentive
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  • Page 7 Advertisements
    • 38 7 HALCYON Offshore is pleased to announce the successful cation mooring and docking system (comprising mooring winches, docking winches and engine driven hydraulic power units complete with state-of-the-art plc control systems) for Heerema Marine Contractors BV’s Float Over Barge.
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  • SINGAPORE MARKETS
    • 483 8 CURRENCIES Bloomberg [SINGAPORE] India’s rupee and Thailand’s baht led declines among Asian currencies last week on signs economic growth is slowing in the region and speculation cooled that the US Federal Reserve will unveil further stimulus measures. Taiwan’s industrial output rose less than
      Bloomberg  -  483 words
    • 559 8  -  COMMODITIES By LYNETTE LYNETTE TAN The writer is an investment analyst at Phillip Futures A PESSIMISTIC global economic picture and concerns of slowing growth in the eurozone and US may drive investors to bet on commodities. News of agricultural commodities hitting historical highs in
      559 words
    • 1595 8 Consensus No. of Forecast Mean Frl's recommendation estiEPS PE target price Company name This wk Last mth mates (conti) (ratio) price (S) AIMS AMP Cap 2.00 2.00 2 2.00 10.00 0.27 0.20 Amtek Engg 2.00 2.00 4 0.11 5.02 1.26 0.68 ARA Asset Mgt t.71 1.80 7 8.89
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    • 65 8 Aug 26 VALUE CLOSE BT OB/OS -363.00-281.00 BT CADI -*****.00 -72.00 BT 10-day MA -*****.00 -36.00 FTSE ST Mid Cap 631.09 -4.23 FTSE ST Small Cap 427.11 -1.79 FTSE ST All Share 664.64 -4.20 FTSE ST China Top 197.44 -0.89 FTSE ST China 233.10 +0.24 FTSE ST
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    • 4 8 WEEKLY
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    • 60 8 VOLUME Genting SP 668.371.000 Shenq Siona 652.836.000 Golden Agri 409.049,000 HPH Trust US$ 224.395.000 Noble Grp 222,581,000 SinaTel 174.743,000 MDR 148,232,000 Cosco Corp 143,412,000 CapMallsAsia 128,707,000 Yanqziiianq 128,479,000 VALUE(S) Genting SP 1.013.049.804 5ingTel 519,964,838 DBS Grp 505,705,988 UOB 427,815,662 Keppel Corp 355,891,307 Noble Grp 307,974,377 Sheng Siong
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    • 675 8  -  STOCKS VEN SREENIVASAN Senior Correspondent IF YOU have steady nerves and the means to stay invested for the next six months, you should be starting to build up a portfolio of beat-en-down blue chips and other fundamentally sound stocks. That seems to be
      675 words
    • 5 8 WEEKLY
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    • 123 8 BY CENTS CLOSE UP is S&P500 ***** 411.9 3.0 JMH 5130 269.4 4.5 DBXT MSKorea I0U5$ 5039 193.3 3.2 DBXT MSEurope 10USS 4088 181 2 3.8 DBXT E50 10USS 3581 173.9 4.2 DBXT SPASX200 10U5S 321; 152.2 4 1 i yxor Europe 10 \i$S 1160 88 2 67 DBXT
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    • 127 8 BY CENTS CLOSE DOWN GLD 10US$ *****-854.0 -3.9 Asia Pac Brew 2500-200.0 -7.4 DBXTS&P Short IOUS$ 4678-180.0 -3.1 Lyxor AsiaCS 10USS 5198-148.6 -2-3 DBXT iBoxxKR SUSS *****-147 4 -0.9 Lyxor AsialT IQUSS 2224-103.9 -3.7 DBXTMSTHAI 10USS 1577-102 7 5 1 DB5.ES.1108 1290 -93.0 -6.7 UOB 1764 -90.0 -4.9 Pi
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    • 1283 10  -  Plunge in share prices this quarter prompted more directors to buy shares for the first time since listing, reports ROBERT HALILI INSIDE MARKETS reports ROBERT HALILI The writer is managing director, Asia Insider Ltd THE buying was heavy for the third straight week versus no sales
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    • 1512 10 Payment Ex Books Pay Ann (cts) date close date date Adampak Ltd aw 1.000 06-Sep 08-Sep 23-Sep 12-Aug Adv Integrated Mft aw 0.180 31-Aug 02-Sep 19-Sep 29-Jul AIMS Amp Cap Ind Reit ag 0.530 02-Aug 04-Aug 14-Sep 27-Jul Amtek Engg an 5.500 04-Nov 09-Nov 22-Nov 26-Aug ARA Asset
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  • Page 8 Advertisements

  • Page 9 Advertisements
    • 99 9 WIN $10,000 CASH AND MORE WITH SINGAPORE'S 1 st INTERACTIVE COMMERCIAL IT! O r ft# MAP auES o GAME Download our Interact with Win a host of HUB IT! app our commercial awesome prizes Catch our new LOVE TAIL commercial on StarHub TV or YouTube, and help Sparky in his
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  • Page 10 Advertisements
    • 1568 10 MATS Toll free: 1800-289-8822 Email: notices@sph.com.sg NOTICES The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Subsidiaries MUFG Head Office 7-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo 100-8388, Japan. Singapore 9 Raffles Place, #01-01, Republic Plaza, Singapore *****9. CONSOLIDATED STATEMENTS OF OPERATIONS YEARS ENDED MARCH 31,2011 and 2010 CONSOLIDATED BALANCE SHEETS, MARCH 31,2011 AND
      1,568 words

  • SINGAPORE NEWS
    • 455 11  -  Shipping veteran will handle development of aggressive group’s business outside India By JOYCE HOOI SHIPPING veteran Eng Aik Meng is set to jump onto the barge of the burgeoning healthcare industry. Come Sept 12, he will be joining Fortis Healthcare International
      FILE PHOTO  -  455 words
    • 385 11 Aug 26 BANKS Agricultural Bank Of China 5.5 ANZ Banking Group 6 Arab Bank PLC 5.5 Banco Bilbao Vizcaya Argentaria, S.A. 6 Bangkok Bank 6 Bank Julius Baer Co. Ltd(S) 5 Bank of America NA 5 Bank of China Limited 5.5 Bank of Communications 5.5 Bank of
      385 words
    • 207 11 COMPANY MEETING PLACE DATE TIME Freight Links A 51 Penjuru Road #04-00 Freight Links Express Logisticentre Singapore *****3 29-Aug 9.30am IPCO Intl A IPCO Building 24 Pandan Road Singapore *****5 31-Aug 9.00am Stamford Tyres A 19 Lok Yang Way Singapore *****5 31-Aug 3.00pm Chinasing Invest S ReUnion! Level
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  • Page 11 Advertisements
    • 34 11 LI '-JL hsm T-TFIND THE ONES j THAT FIT! Recruit the right people through CATS Recruit. C~*J Call 1800 289 8822 or email recruit@sph.com.sg J to advertise. 7 -7 7 rO V L_ *7
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    • 132 11 V J I've got a million things to do but I made time for it. m Jacq 29 ue ne I We understand that first steps are not easy, that's why we are committed to motivating and supporting you throughout your journey. With 11 clubs in Singapore and 437 worldwide,
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  • VIEWS FROM THE TOP
    • 3074 12 THIS WEEK’S TOPIC Where should the average consumer put his or her money in these volatile times? What should those who are already invested in the markets do now? Alex Hungate Group General Manager and Chief Executive Officer HSBC MARKETS have gone into free fall
      REUTERS  -  3,074 words

  • Page 13 Advertisements
    • 267 13 HiAsia RANCHISINGSaiLICENSING ASI 2011 Exhibition Conference The International Event for Entrepreneurship, Business Opportunities Intellectual Property Rights in Asia 8-10 September 2011 10.30am 6.30pm (Thu Fri) 10.30am 5.30pm (Sat) Hall C, Level 1, Marina Bay Sands, Singapore HAILAM KOPTTIAM 1 SINGAPORE PAVILION MuwDBMb. mMmmm A2A serVTouch orocA^ SUPERLINK Hi -jbxrC fa
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    • 526 13 For the complete list of views from CEOs, go to http://businesstimes.com.sg 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! Open an acount and get up to US$350 rebate! NO CUSTODY FEE** TOCKS FUNDS rxxiF Stock
      526 words

  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 944 14  -  Watch collectors caution that timepieces may not be the wisest investment choice. MINDY TAN reports choice. MINDY TAN WHILE recent turmoil in the stock markets may send some investors on the hunt for alternative safe havens in the form of art, wine and watches, watch
      944 words
    • 1066 14  -  Lim Ting Ping pays his way through NUS by investing in the precious metal, reports STEPHANIE RIADY STARTING YOUNG reports STEPHANIE RIADY AS GLOBAL uncertainties lead investors to speculate on the price of gold, Lim Ting Ping finds investment potential in a less
      ARTHUR LEE  -  1,066 words
    • 318 14 ASK DR INVEST E-mail your investing questions to btyif@sph.com.sg with ‘Ask Dr Invest’ in the subject heading Q: Is there a difference between capital guaranteed and capital protected products? I heard that the term “capital protected” has been banned by the Monetary Authority of
      318 words
    • 268 14 ‘Spot the Index’ contest THINK you can forecast where the market’s headed? Then put your skills to the test and familiarise yourself with our local stock-market index, the Straits Times Index (STI), now. Simply spot the weekly closing index rate and stand to win an Apple iPod
      268 words
  • Page 14 Advertisements
    • 51 14 The Business Times-Citibank Young Investors’ Forum is published every Monday. It aims to raise the financial awareness of young adults, especially tertiary students, and empower them with the financial knowledge and skills vital to making investing and wealth management decisions. The forum is part of Citibank’s efforts to promote financial
      51 words

  • Page 15 Advertisements
    • 512 15 THELIGHT TIMEShe The all-new Audi A6. The ultra-light Audi R18 conquers Le Mans. Lightweight design reinvents luxury. Test-drive the all-new Audi A6 and sail aboard the Audi ultra racing yacht. THEGAME HAS CHANGED Audi introduces the all-new lightweight Audi A6. As one of the pioneers in the intelligent use of
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  • Page 16/17 Advertisements
    • 110 16/17 Luxury has progressed with lightweight technology. Change the game with the all-new lightweight Audi A6 from 27 August to 4 September. Lightness is the new paradigm of luxury. Introducing the all-new Audi A6 a car packed with more than just innovative features, but advanced knowledge in lightweight engineering gained from
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  • Page 18 Advertisements
    • 127 18 Audi Vorsprung durch Technik the game your command. Audi drive select Ensures you no longer have to compromise your driving mode; choose from comfort to sporty and now available with efficiency mode. Park assist Steers your car into parallel and right-angled parking spaces without you touching the steering wheel. Head-up
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  • ECONOMY WATCH
    • 689 19 Policymakers must force Europe’s banks to bulk up their capital: Lagarde Reuters [JACKSON HOLE, Wyoming] The new head of the IMF on Saturday called on global policymakers to pursue urgent action, including forcing European banks to bulk up their capital, to
      Reuters; AFP  -  689 words
    • 392 19 AFP [WASHINGTON] US President Barack Obama and German Chancellor Angela Merkel agreed on Saturday on the need for “concerted action” to spur global growth, the White House said after the leaders spoke by telephone. The two leaders also agreed to continue working on
      AFP  -  392 words
    • 489 19 Bloomberg [SYDNEY] Australian Treasurer Wayne Swan said there is no “silver bullet” to ease pressure on trade-ex-posed industries hurt by a strong local currency. Manufacturing output will increase by about 5 per cent until 2020 and be dwarfed by a 77
      Bloomberg  -  489 words
    • 470 19 He urges officials to revamp economies for smoother growth Bloomberg [JACKSON HOLE, Wyoming] European Central Bank (ECB) president Jean-Claude Trichet said the US economy features regional diversity similar to that of the euro area, urging policy makers to restructure their economies to promote
      Bloomberg  -  470 words
  • Page 19 Advertisements
    • 235 19 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF BAXTER HEALTHCARE PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) Co. Reg. No. *****0366D NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act, Cap. 50, that a Final Meeting of the Members of the abovenamed
      235 words
    • 755 19 yiP\ wat^ NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg •SELL IT-FIND IT SUMITOMO MITSUI FINANCIAL GROUP, INC. SMFG Annual Report for the Year ended March 31, 2011 BOARD OF DIRECTORS, CORPORATE AUDITORS, AND EXECUTIVE OFFICERS (As of June 30, 2011) CHAIRMAN OF THE BOARD Masayuki Oku PRESIDENT Koichi Miyata DIRECTORS Tetsuya
      755 words

  • MALAYSIA
    • 686 20  -  Nationalistic push for local buyer may hurt investor mood MALAYSIA INSIGHT PAULINE NG KL Correspondent PUNTERS of Esso Malaysia who were caught out when a proposed takeover offer for Esso Malaysia came in below their expectations are not the only ones unhappy with the
      686 words
    • 1844 20 VOL Aug 26 RM +/-(‘000) A M Realty 0.46 unch 0 Abric Bhd 0.28 -0.02 4 Advance Synerg 0.18 -0.01 1423 Adventa Bhd 1.61 -0.02 39 Ae Multi Hldgs 0.21 0.01 236 Affin Holdings 2.90 -0.06 1404 Ahmad Zaki Res 0.70 -0.01 144 Aic Corp 1.26 -0.02 9
      1,844 words
  • Page 20 Advertisements
    • 2563 20 4^ Transcu Group Limited (Incorporated in the Republic of Singapore) (Reg. No. *****0320E) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of TRANSCU GROUP LIMITED (the "Company") will be held at Orchid Country Club, Emerald Suite (Level 2 of Golf Clubhouse), 1 Orchid Club
      2,563 words

  • Page 21 Advertisements
    • 176 21 Ml MM I 3s m K /.iVj,;- m i /''rjiylf I' ,"7 ,'}l wf'.i'Sl 4';>:;i j/|i I, j '5:1^ r 1 l I i i i" 1 I i >' v.' 3 u IH >■> #jr v j A i i<,• .rL \',r. if m I I 1 V: ■fl
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  • GREATER CHINA/INDIA
    • 383 22 The higher gains are seen to help sustain investment, prevent deeper slowdown Bloomberg [BEIJING] Chinese industrial companies’ profits rose 28.3 per cent in the first seven months from a year earlier, helping to support the expansion of the world’s fastest-growing major economy. Net
      Bloomberg  -  383 words
    • 483 22 Move seen draining 900b yuan from banking system Bloomberg [SHANGHAI] China’s central bank broadened lenders’ reserve requirements to cover margin deposits, a move that may drain 900 billion yuan (S$169 billion) from the banking system over six months, Bank of America Merrill
      Bloomberg  -  483 words
    • 494 22 AP [NEW DELHI] An Indian reform activist whose protest galvanised the nation’s anger against corruption ended his 12-day hunger strike yesterday after forcing Parliament to throw its weight behind his crusade. Seventy-four-year-old Anna Hazare accepted a cup of coconut water and honey from two young
      AP; AFP  -  494 words
  • Page 22 Advertisements
    • 1583 22 MOYA ASIA LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****2051G) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an extraordinary general meeting (the “EGM”) of Moya Asia Limited (the “Company”) will be held on 23 September 2011 at 9.30 a.m. at Orchid Country Club, Sapphire
      1,583 words
    • 404 22 (Company Registration Number: *****9775K) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (“EGM”) of Europtronic Group Ltd (the “Company”) will be held at 80 Marine Parade Road, #16-06 Parkway Parade, Singapore *****9 on 14 September 2011 at 9.30
      404 words

  • WORLD
    • 594 23 It must look to the future as Americans do not feel as threatened now AFP [LOS ANGELES] The Sept 11 attacks spawned a huge, lucrative market for security, but analysts say the sector must adapt as Americans do not feel as threatened as
      AFP  -  594 words
    • 351 23 His death would be deeply felt by Al-Qaeda as the group’s new leader had relied on him: official AFP [WASHINGTON] Al-Qaeda’s number two Atiyah Abd al-Rahman has been killed in Pakistan, the United States said on Saturday, claiming another “tremendous” blow to
      AFP  -  351 words
    • 345 23 Bloomberg [ATHENS] EFG Eurobank Ergasias SA and Alpha Bank SA, Greece’s second and third-biggest banks, plan to merge in a bid to bolster their assets and ride out a deepening recession and the country’s sovereign debt crisis. The boards of
      Bloomberg  -  345 words
    • 821 23  -  Debate among 5 candidates reflects deep divisions By ANTHONY ROWLEY in Tokyo VOTING is due to take place this morning among the 398 members of parliament from the ruling Democratic Party of Japan (DPJ) to decide who succeeds Naoto Kan as president of
      BLOOMBERG  -  821 words
    • 473 24 The authorities order tens of thousands to evacuate; shut down public transport Reuters [NEW YORK] Hurricane Irene battered New York with heavy winds and driving rain yesterday, knocking out power and flooding some of Lower Manhattan’s deserted streets even as it lost some
      Reuters; REUTERS  -  473 words
    • 792 24  -  Data will show how economy coped with debt storms WALL STREET INSIGHT By ROB CURRAN THIS week, traders await data showing how the global economy has weathered the recent debt storms amid doubts that US and European regulators have provided enough
      792 words
    • 495 24 World champ makes it Red Bull 1-2 finish with Webber, stretches lead to 92 points Reuters [SPA-FRANCORCHAMPS, Belgium] World champion Sebastian Vettel won the Belgian Grand Prix yesterday and stretched his Formula One lead to 92 points in a Red Bull one-two finish
      Reuters  -  495 words
    • 350 24 Reuters [TRIPOLI] Libyan forces closed in on Muammar Gaddafi’s home town yesterday, vowing to seize it by force if negotiations failed, and their leaders ruled out any talks with the deposed ruler. Col Gaddafi’s foes were advancing on his birthplace of
      Reuters  -  350 words
  • Page 23 Advertisements
    • 351 23 KAT3 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF (1) ACHIROMATIC HOLDINGS PTE. LTD. (Company No. *****8713G) (2) SA THREE PTE. LTD. (Company No. *****2579K) (In Members' Voluntary Liquidation) At the respective Extraordinary General Meeting of the above-named Companies deemed to be held
      351 words
    • 279 23 FFFLFTI JONES LANG VJJJJ/ LASALLE FOR SALE BY PUBLIC TENDER Jones Lang LaSalle Property Consultants Re Ltd CEA Licence No. L*****26E Rare Commercial Redevelopment Site along Orchard Road Site area: 1,127.1sqm /12,132 sq ft Zoned Commercial, plot ratio 4.2+ (up to 20 storeys) Existing GFA: 5,113.9sqm 55, 046 sq ft
      279 words

  • Page 24 Advertisements

  • AVIATION/SHIPPING
    • 383 25 Clarkson sees global fleet of 5,600 vessels swelling 7.5% this year Bloomberg [LONDON] The global oil tanker fleet will expand almost three times more quickly than demand this year, according to Clarkson Research Services Ltd, a unit of the world’s
      Bloomberg  -  383 words
    • 533 25 Aircraft maker is three years behind schedule Bloomberg [WASHINGTON] Boeing Co’s 787 Dreamliner will be delivered to Japanese carrier All Nippon Airways on Sept 25, three years behind schedule, after last Friday’s regulatory approvals of the world’s first plas-tic-composite jet. The aircraft
      Bloomberg; AP  -  533 words
    • 441 25 Carrier negotiating pact with American prior to spin-off Bloomberg [DALLAS] Some pilots at AMR Corp’s American Eagle are disputing the need for concessions as the regional carrier negotiates a flying agreement with American Airlines prior to its planned spin-off. The Air Line Pilots
      Bloomberg  -  441 words
    • 315 25 Bloomberg [LONDON] Returns from shipping Middle East crude oil to Asia, the world’s busiest route for supertankers, turned negative for the first time in five sessions as a glut of available ships lingered. Daily rental income for very large crude carriers on the benchmark Saudi
      Bloomberg  -  315 words
    • 189 25 Reuters [BANGALORE] Mitsui OSK Lines Ltd said it will incur a charge of about 7 billion yen (S$110 million) related to vessel operations overhauling, the Nikkei business daily reported. The company aims to lift group pre-tax profit by an annual 5 billion
      Reuters  -  189 words
  • Page 25 Advertisements
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  • Page 25 Miscellaneous
    • 347 25 CRYPTIC CROSSWORD Across 1 Hesitate with clutch before finding reverse (4,4) 5 Oriental language used by Roman churchmen (6) 9 Not one puzzle that’s all right (2,7) 11 Extremely visible star? On the contrary, a planet (5) 12 Number attending poorly US playwright (6) 13 Working, also away, periodically (2,3,3)
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  • DINING OUT
    • 1075 26  -  By Cheah Ui-Hoon NEW RESTAURANT Keystone Restaurant 11 and 12 Stanley Street Tel: 6221-0046 www.keystonerestaurant.com.sg WITH a construction-related name like Keystone, be prepared to repeat it a couple of times to friends you tell. “What stone?” or “Key what?” would likely be the query.
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  • Page 26 Advertisements
    • 1037 26 (Incorporated in Japan with Limited Liability) Consolidated Balance Sheets As at March 31, 2011 and 2010 Millions of Yen 2011 2010 Assets: Cash and Due from Banks 704,625 970,869 Call Loans and Bills Bought 15,326 86,485 Receivables under Resale Agreements 33,260 Monetary Claims Bought 439,303 489,816 Trading Assets 585,289 761,850
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    • 32 26 2010EDITION A collection from The Business Times The diverseexperiences ofsome of the mostinfluential thinkers,corporate chiefs andsocial activists of the age 52 interviews by The Business Times journalists Available at all leading bookstores
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  • SINGAPORE STOCKS
    • 8609 27 Week ended: Aug 26 52-wks Last Vol Week Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 12 8Telecom 12.8 10.9 14.5 7.8 4.8 2.7 61.3 9.5 4.5 A-Sonic 5 -0.2 717 5.2 4.8 4.9 5.8 2.6
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    • 1693 28 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 34 14 t 800 Super 15 +1 1246 15 14 14.5 15 4.7 3.7 5.8 26.8 5.5 3.7 t AA Grp 4 2.9 3.9
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    • 114 28 Stock name Close Change Stock name Close Change Stock name Close Change CapMallsAsia 1.305 +0.025 CapitaLand 2.490 CapitaMall 1.810 -0.005 CityDev 10.000 -0.310 ComfortDelGro 1.360 +0.010 DBS Grp 12.810 -0.170 F&N 5.700 -0.080 GLP 1.610 -0.055 Genting SP 1.535 -0.015 Golden Agri 0.620 -0.010 HK Land
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    • 2689 28 Transaction date: Aug 26 HONG KONG Vol HK$ +/-'000 Aeon Credit 5.90 unch 0 Aeon Stores 17.50 -0.60 53 Angang Steel 5.88 -0.23 ***** Anhui Conch 29.75 -1.35 ***** Anhuiexpresswa 4.62 -0.02 1776 Asia Satellite 16.40 -0.02 1 Asm Pacific 75.60 -0.45 369 Bank Of E Asia 29.25
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    • 238 28 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 34 AVJennings A39cd -1.5 10 39 38 37.5 41 3.6 9 3.1 101.6 55 27.5 Genting HK US$ US33 +3 ***** 34.5 29.5 33 33.5 2172.9
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    • 186 28 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 7 2 0 0 0 7 7 2 Manufacturing 75 88 36 11 10 6 86 98 42 Commerce 30 31 15 8 7 2 38 38 17 Tpt/Stor/Comms 28 13 5
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    • 988 28 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 127 108 ABF SG Bond ETF 127 +1 30 127 125 115 125 579.7 1261 914 CIMBAsean40 100US$ US997 -22 29 1019 997 999 1012 39.9
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    • 123 28 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 152,898 152,898 510,187 510,187 Manufacturing 900,458 40,540 940,998 951,721 877 952,598 Commerce 1,220,800 21,595 1,242,395 979,733 2,376 982,109 Tpt/Stor/Comms 979,182 9,427 988,609 1,341,560 982 1,342,542 Finance 121,191 11,444 132,635 1,308,299 2,514 1,310,813 Construction 151,679 69,564
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  • Page 28 Advertisements
    • 26 28 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES
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  • FINANCE & COMMODITIES
    • 374 29 In local curr In S$ In US$ dy yr dy yr dy yr Aug 26 Index Change Change Change Change Change Change World Index Preliminary 790.8 0.3 -11.9 -0.1 -14.9 0.3 -9.6 EAFE Preliminary 663.5 -0.2 -17.2 -0.5 -17.4 -0.1 -12.2 Europe Preliminary 958.0 -0.3
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    • 109 29 Aug 26 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Sep 11 1414.75 1386.00 1418.00 1379.00 Nov 11 1423.50 1392.75 1426.00 1386.25 Jan 12 1432.75 1403.25 1435.25 1396.50 Mar 12 1432.50 1406.00 1435.00 1398.75 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Sep 11 56.60
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    • 79 29 Aug 26 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****F 24.11.2011 0.13 0.08 0.08 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 103.94 5-Year N*****0W 1.125 01.04.2016 102.80 10-Year NX*****X
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    • 461 29 Aug 26 Aug OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Sep11 99.6375 0 2503 Dec11 99.4700 0 3133 Mar12 99.4950 0 1041 Jun12 99.5150 0 931 EUROYEN TIBOR FUTURES Sep11 99.6800 300 1525 Dec11 99.7075 0 2002 Mar12 99.7150 0 2383 Jun12 99.7125 0 1376 Sep12
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    • 77 29 CRUDE OIL PRODUCTS Aug 25 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 110.66 unch WTI (Near Mth) 85.01 -0.18 Dubai (1-Mth F) 106.34 1.61 Tapis blend 118.39 1.63 Minas 113.14 1.63 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 105.11 1.22 Jet Kerosene 125.34 1.09 US$/barrel Opec Oil
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    • 176 29 Aug 27 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume 0/1 Month High Low Sett (lots) (lots) Sep 11 464.4 461.0 464.0 20 321 Oct 11 464.0 462.0 464.0 14 366 Nov 11 463.5 374 Dec 11 462 5 462.5 464.0 14 504 Jan 12 464.7
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    • 121 29 As at 9am Aug 26 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.309 1.235 Can dollar 1.246 1.199 Euro 1.772 1.704 Sterling pound 2.006 1.929 NZ dollar 1.032 0.983 US dollar 1.226 1.179 Local dollars to 100 units of foreign
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    • 30 29 Aug 26 Aug Open High Sett STI Aug 2735 2735 2748 SIMSCI Aug 316.5 318.8 315.5 Taiwan Aug 261.2 264.5 262.1 Source: MF Global (S) Pte Ltd
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    • 2605 29 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 25 unch 3 1 150 37 5.12 33 ASJ Hldgs W*****1 0.5 1 4 29 7.00 6 AlliedTech W*****2 1.7 1 4 27 Aztech Grp W*****3 0.5 1
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    • 157 29 Aug 26 SS Off« Bid Overnight 0.01 pa» 1 "month 3/16 1/16 2>-months 2/16 1/16 1/4 178 Overoiflht mode: 0.06 USS Oflet thil 7 liiiii0.30 0.20 1 month 045 0.25 7 months 0,50 0.30 3 months 0,55 035 ii months 0-70 0 50 9 months 0,85 0.(15 13
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    • 462 29 Aug 26 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.034 6.695 0.726 8.172 48.278 89.695 0.807 11.337 3.136 1.260 91.079 44.463 1.266 7.574 0.829 30.446 31.450 0.643 1.048 Canada 0.967 6.477
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    • 82 29 Aug 26 COCOA (£/tonne) Close Prev High/Low Sep 11 1922 1891 1930/1900 Dec 11 1939 1910 1946/1918 Mar 12 1952 1924 1960/1932 May 12 1958 1933 1966/1942 COFFEE (US$/tonne) Close Prev High/Low Sep 11 2340 2345 2381/2323 Nov 11 2362 unch 2407/2326 Jan 12 2377 unch 2419/2349 Mar 12
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    • 85 29 Aug 26 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths -0.***** 9 mths -0.***** 12 mths
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    • 156 29 Aug 26 Against US$ Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2658 1.2667 1.0479 1.0484 Canadian dollar 1.2247 1.2252 1.0139 1.0141 Euro 1.7429 1.7434 1.4429 1.4430 NZ dollar 1.0041 1.0051 0.8313 0.8319 Sterling pound 1.9696 1.9707
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    • 23 29 Aug 26 Aug S$ Bid Offer 1-month 1.2077 1.2081 2-months 1.2073 1.2078 3-months 1.2068 1.2074 6-months 1.2034 1.2042 Source: OCBC
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    • 142 29 Aug 26 COINS GOLD (US$/oz) Aug 26 Aug 25 Hong Kong 1789.50 1740.00 Aug 25 Aug 26 London 1741.29 1778.04 1742.50 1779.75 Source: Thomson Reuters Source: Thomson Reuters CAST BAR Aug 26 (S$) Selling Buying Kilobar 74,337.18 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 167 69 5gm
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    • 69 29 Aug 26 Aluminium, 99.7% purity (yss/jpnne) Close Cash 2343.50 3 months 2378.00 Previous 2331.00 2366.00 Copper, Grade A (USS'tonne) Cash 9061.75 3 months 9075.00 9016.50 9030.00 Lead lUSS/tonne) Cash 2490.25 3 months 2485.00 2406.50 2401.50 Nickel (USS/tonnel Cash *****,00 3 months *****.00 *****,00 *****,00 Tin (USS/lonne) Cash *****.00
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    • 65 29 Aug 26 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 11 3085 3094 3100 3075 115 2201 Oct 11 3022 3016 3031 2995 1580 ***** Nov 11 2993 2975 2996 2953 ***** ***** Dec 11 2975 2970
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  • Page 29 Advertisements
    • 87 29 SMX MARKET UPDATE As on 26 August 2011 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE PREV CLOSE PRECIOUS METALS Gold Oct-11 1790.40 1790.40 1790.40 1760.7 Silver Sep-11 41.180 40.285 40.855 40.75 CURRENCY US Dollar-Jap Yen Sep-11 77.31 76.81 76.90 77.35 Euro-US Dollar Sep-11 1.4470 1.4327 1.4459 1.4369 GBP-US Dollar Sep-11 1.6308
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  • Page 30 Advertisements
    • 1126 30 THE BUSINESS TIMES SHIPPING TIMES 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
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    • 1394 30 WAN HAI INTERNATIONAL PTE LTD UEN: *****4695M TEL: *****588 (14 LINES) FAX: *****163 PKL TEL: (03) *****588 FAX: (03) *****566 PEN TEL: (04) *****00 FAX: (04) *****99 JOH TEL: (07) *****23 FAX: (07) *****21 SUR TEL: (031) *****75 FAX: (031) *****14/*****05 JKT TEL: (021) *****88 FAX: (021) *****88 PLM TEL:
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  • Page 31 Advertisements
    • 2546 31 SHIPPING TIMES EASTERN CAR LINER, LTD HDS LINES THE SHORTEST TRANSIT TO PERSIAN GULF SPECIALIZE IN RORO HEAVY LIFT CONTAINER SERVICE TO JEDDAH, ISTANBUL, MIDDLE EAST, PERSIAN GULF, CIS, MEDITERRANEAN AND NORTHERN EUROPE AMCL AMEL INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) MIRI MU SIN PKL JKT SUR Approx transit time ex-Singapore
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  • BizIT THE BUSINESS OF INFOCOMM TECHNOLOGY
    • 836 32  -  Its CTO ensures that technology can be tied back to marketable products before investing in them, reports VICTORIA HO reports VICTORIA HO DECIDING which new technology to file for a patent is tricky business. It is an expensive investment into a project that may not
      FILE PHOTO  -  836 words
    • <what’s up>
      • 42 32 HO Chye Soon is the new general manager, commercial business, for Dell’s consumer, small and medium business in Singapore. He was promoted from his role as sales director, commercial business here, and has been with Dell since 2006.
        42 words
      • 40 32 NOKIA has launched three new Symbian smartphones, the 700, 701 (above) and 600. The three phones run Symbian Belle and support near-field communication (NFC) so tap-to-pair is supported for compatible accessories such as headsets.
        40 words
      • 47 32 LENOVO has released the IdeaPad Tablet K1 in Wi-Fi and 3G versions, and the business-oriented ThinkPad Tablet. The IdeaPad Wi-Fi is priced at $699 and the 3G version at $799. Pricing was unavailable for the ThinkPad at press time. All models are 32GB.
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      • 38 32 SONY Ericsson will make a software upgrade to its 2011 Xperia smartphone range in October. It will release Android 2.3.4 Gingerbread, which will allow features such as video chat over Google Talk.
        38 words
      • 46 32 STARHUB plans to premiere a new interactive TV commercial, called Love Tail. It has released an iPhone and Android-compatible mobile app that will allow users to interact with the commercial on TV. The ad will also be aired on YouTube online.
        46 words
      • 39 32  -  Compiled by VICTORIA HO JABRA has released the Street2 headset. The dogtag-style device connects to music players and phones via bluetooth to allow users to take calls and stream music wirelessly. It is priced at $108.
        39 words
    • 612 32  -  There is opportunity gap for traditional broadcasters By VICTORIA HO [SINGAPORE] The advent of digital media is challenging traditional media companies to adopt new ways of reaching out to audiences, and now is the time they must streamline their processes
      612 words
    • 790 32 Reuters [NEW YORK] Tim Cook has big shoes to fill and he can’t do it by just pushing out snazzier versions of the iPhone or iPad. Apple Inc’s newly minted CEO needs a revolutionary product to prove he has the chops
      Reuters; REUTERS  -  790 words