The Business Times, 30 August 2011

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1 40 The Business Times
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  • Title Section
    Lock icon Masthead
    11 1 THE BUSINESS TIMES AUGUST 30, 2011 S$1.00 MICA (P) 120/08/2011 www.businesstimes.com.sg
    11 words
  • Article
    Lock icon Finance minister is next PM
    34 1 japan politics YOSHIHIKO Noda wins run-off vote as the new president of the Democratic Party of Japan and is expected to become prime minister today, replacing Naoto Kan. 2
    34 words
  • Article
    Lock icon SBS Transit to run Downtown Line
    32 1 train spot IT is awarded licence by the Land Transport Authority, which has also cut the licence period to enhance contestability in the rail sector. 4
    32 words
  • Article
    Lock icon Hungry Ghost spooks auctions
    33 1 under the hammer IT WAS a quiet Hungry Ghost Festival this year for the property auction market in Singapore as few investors put up their properties for sale. 13
    33 words
  • Article
    Lock icon OKP wins $46.8m PUB job
    28 1 company deal MAINBOARD-LISTED OKP Holdings has won a $46.8 million contract from the Public Utilities Board to work on the Alexandra Canal. 14
    28 words
  • Article, Illustration
    Lock icon Tony Davis walks away from wounded Tiger
    643 1  -  Ex-CEO’s departure may hurt talks in Australia, say analysts By Jamie Lee leejamie@sph.com.sg Singapore TIGER Airways’ former chief executive Tony Davis who was seconded to take charge of the troubled Australian operations has quit, leaving Tiger in search of a replacement to head
    BLOOMBERG  -  643 words
  • Article, Illustration
    Lock icon Jewellery hawked to feed demand for gold
    642 1  -  Recycled gold rises as investors look for safe haven and prices boom, but a correction lurks By Neil Behrmann btworld@sph.com.sg London THE gold market boom is encouraging individuals in the US, Europe and Asia to cash in their jewellery. Several jewellers report that
    REUTERS  -  642 words
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  • TOP STORIES
    • Article, Illustration
      Lock icon Finance Minister to take over as Japan PM
      641 2  -  Yoshihiko Noda’s priorities likely to include fiscal consolidation and tackling the strong yen By Anthony Rowley btworld@sph.com.sg Tokyo IN A contest marked by some surprising swings, Japanese Finance Minister Yoshihiko Noda emerged yesterday in a run-off vote as the new president of
      AFP  -  641 words
    • Article
      Lock icon European stocks gain on Bernanke’s assurances
      521 2 AFP Paris EUROPEAN stocks rallied yesterday as Asian stocks advanced for a third day after Federal Reserve chairman Ben S Bernanke said the US economic recovery will accelerate and the central bank has more means to prop up growth if appropriate. Risk appetite across
      AFP  -  521 words
    • Article
      Lock icon MARKETS
      138 2 G STI 2,791.89 (+43.71) G STI FUTURES 2,792 (+44) G SIMSCI 320.60 (+4.86) G SIMSCI FUTURES 320.00 (+4.50) STOCKS Monday Change KL COMP 1,447.27 +2.46 NIKKEI 225 8,851.35 +53.57 HANG SENG 19,865.11 +282.23 SET 1,055.63 +18.41 JAKARTA Closed MANILA Closed KOSPI 1,829.50 +50.55 SHENZHEN B 667.83 +1.45 MUMBAI IND
      138 words
    • Article, Illustration
      Lock icon SBS Transit to operate Downtown Line
      480 4  -  LTA shortens licence period to 15 years to boost contestability By Samuel Ee samuelee@sph.com.sg Singapore THE Downtown Line (DTL), the first stage of which will open in 2013, will be operated by SBS Transit (SB ST) under the new rail financing framework. The Land
      FILE PHOTO  -  480 words
    • Article
      Lock icon Chinese buying French vineyards
      829 4  -  By Mark O’Neill EJ Insight Paris SHEN Dongjun is the managing director of Tesiro, a chain of 400 jewellery shops in China with an annual revenue of 150 million yuan (S$28.3 million). In April, Mr Shen opened a new front in his business empire he became
      EJ Insight  -  829 words
    • Article, Illustration
      Lock icon Waterculture to ride off with MV Agusta dealership
      452 5  -  The firm hopes to make more headway in the road vehicle market with its latest addition By Joyce Hooi joyceh@sph.com.sg Singapore THE Ferrari of motorcycles the MV Agusta brand has found itself a new sole distributor in Singapore, BT has learnt. This
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    • Article, Illustration
      Lock icon Bernanke’s limited options and appropriate inaction
      403 5  -  By Richard Beales REUTERS BREAKINGVIEWS STOCK investors may have been briefly underwhelmed, but Ben Bernanke was right not to promise new easing in his speech in Jackson Hole last Friday. Aside from its likely ineffectiveness at juicing the US economy and its stubbornly weak
      REUTERS  -  403 words
    • Article, Illustration
      Lock icon Hurricane Irene not as costly as expected
      634 6 Estimated cost to insurers falls to US$2.6b from earlier projections of up to US$14b Bloomberg New York HURRICANE Irene’s estimated cost to insurers fell to about US$2.6 billion in the US as the storm lost strength en route to New York, according to
      Bloomberg; AFP  -  634 words
    • Article
      Lock icon Mooncake tax sparks outcry in China: reports
      295 6 AFP Beijing A DECISION by Beijing authorities to impose tax on mooncakes, a delicacy given as gifts for the Mid-Autumn Festival, has sparked an outcry in the Chinese capital, reports said yesterday. The cakes heavy pastries containing sweet lotus seed paste will from
      AFP  -  295 words
    • Article, Illustration
      Lock icon Subdued price rises seen for upgrader private housing
      721 7  -  Wing Tai chairman reckons the upcycle for this segment is at mature stage By Kalpana Rashiwala kalpana@sph.com.sg Singapore THE upgrader segment of the private housing market is likely to see more subdued price increases going ahead, Wing Tai chairman Cheng Wai Keung
      FILE PHOTO  -  721 words
    • Article, Illustration
      Lock icon iPhones used to lure Indonesians to online trading
      750 8 Country’s biggest online brokerage is courting students and 25 to 30-year-olds Bloomberg Jakarta INDONESIA’Sbiggestonlinebrokerage is using Apple Inc’s iPhones to attract young people to buy stocks in Asia’s best-per-forming market as fewer investors convert to Internet trading and the number of Web
      Bloomberg; AFP  -  750 words
    • Article
      Lock icon TMX-Maple deal seen unravelling as exchange gains fade
      571 8 Bloomberg New York TMX Group Inc, which has gained the most of any exchange involved in the industry’s biggest wave of acquisitions, is now in danger of being left without a buyer. Since reaching a three-year high in June as London Stock
      Bloomberg  -  571 words
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      Lock icon Page 2 Advertisements Column 1
      27 2 CONTENTS NEWS Top Stories 2-8 Companies 9-12 Singapore 13-14 SME Inc 15-19 World 20-24 Shipping Times 25-27 Aviation Shipping 28-29 Perspective 30-31 Stocks Stats 32-36 Property 37-40
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      Lock icon Page 3 Advertisements Column 1
      241 3 PATEK PHILIPPE GENEVE Begin your own tradition. O rD r. WA *2 uy o O tuna J y o n family-owned watch company, we are committed to restoring and maintaining all our watches. Including those made in 1839." The master watchmakers in our International Customer Services are fully aware that
      241 words
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      298 6 INTHE MATTER OFTHE COMPANIES ACT, CAP 50 AND INTHE MATTER OF E-CLEARING (SINGAPORE) PTE LTD (In Creditors’Voluntary Liquidation) (Company Registration No. *****9787R) NOTICE OF APPOINTMENT OF PROVISIONAL LIQUIDATOR PURSUANTTO SECTION 291(4) OF THE COMPANIES ACT, CAP 50 NOTICE is hereby given that pursuant to Statutory Declaration made by all directors
      298 words
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      28 7 INSOMNIA? Sleep On Waveless Waterbeds German Ingenuity That Heals While You Sleep EverRest FANTASY WATERBEDS SLEEP CENTRE #01-15/16 The Furniture Mall (The Plaza) 7500D Beach Road Tel: 6469-1381
      28 words
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  • COMPANY NEWS
    • Article
      Lock icon Olam Q4 net profit up 38% on higher commodity prices
      394 9  -  The company expects to post profit after tax of US$1b by FY2016 By Mindy Tan tanmindy@sph.com.sg Singapore OLAM International yesterday posted a net profit after tax attributable to shareholders of $127.4 million for the fourth quarter, a 38 per cent
      394 words
    • Article
      Lock icon Fair value gains boost Wing Tai Q4 profit
      578 9  -  By Kalpana Rashiwala kalpana@sph.com.sg Singapore WING Tai Holdings has posted a 148 per cent year-on-year jump in fourth quarter net earnings to $170.6 million despite a 48 per cent slide in revenue to $115.1 million. The property and retail group booked fair
      578 words
    • Article
      Lock icon Transcu reports $114m loss last year after audited update
      288 9  -  By Victoria Ho vhoip@sph.com.sg Singapore BIOTECH firm, Transcu Group, announced yesterday there were material differences between its unaudited and audited financial report for the financial year ended March 31, 2011. The company’s total comprehensive losses for the year were $113.9 million
      288 words
    • Article
      Lock icon China Minzhong full-year profit up 54.2%
      510 10  -  The group expects growth momentum to be maintained in the new fiscal year By Lynette Khoo lynkhoo@sph.com.sg Singapore CHINA Minzhong, which has posted a 54.2 per cent jump in net profit for the full year ended June 30 to 566.7 million yuan, expects the
      510 words
    • Article
      Lock icon Kian Ann Q4 net profit rises 28% to $4.3m
      416 10  -  Q4 revenue improved 4.7% to $43.6m By Teo Si Jia and Kelly Tay teosj@sph.com.sg kellytay@sph.com.sg Singapore DRIVEN by higher demand for its machinery parts in Malaysia and Indonesia, Kian Ann Engineering registered a 27.7 per cent year-on-year growth in net profit,
      416 words
    • Article, Illustration
      Lock icon Bumpy flight for Tiger shareholders
      422 10  -  By Joyce Hooi joyceh@sph.com.sg Singapore SHAREHOLDERS of Tiger Airways might want to buckle up for a bit of turbulence. A Citi report issued last Friday said that the airline’s rights issue will cause shareholders some pain, with a share dilution of about 15 per cent.
      BLOOMBERG  -  422 words
    • Article, Illustration
      Lock icon STI up on bargain-hunting and Bernanke’s reassurance
      572 11  -  Prices took off decidedly in the afternoon when the European markets opened on a buoyant note stocks Joyce Hooi Reporter INVESTORS woke up in a world devoid of a third round of quantitative easing yesterday, but found that the bottom had not fallen
      572 words
    • Article
      Lock icon TOP 20 ACTIVES
      111 11 VOL CLOSE ShengSiong 157,899 53 4.0 8.2 GentingSP 79,103 157 3.5 2.3 GoldenAgri 62,220 63.5 1.5 2.4 NobleGrp 43,296 153 8.5 5.9 HanKore 30,633 4.3 0.3 7.5 PSLHldgs 22,827 26.5 2.0 8.2 SingTel 20,952 313 3.0 1.0 Yangzijiang 20,571 104 5.5 5.6 CoscoCorp 19,794 103.5 5.0 5.1
      111 words
    • Article
      Lock icon STI STOCKS
      112 11 Stock name Close Change CapMallsAsia 1.355 +0.050 CapitaLand 2.530 +0.040 CapitaMall 1.835 +0.025 CityDev 10.250 +0.250 ComfortDelGro 1.345 -0.015 DBS Grp 12.960 +0.150 F&N 5.760 +0.060 GLP 1.640 +0.030 Genting SP 1.570 +0.035 Golden Agri 0.635 +0.015 HK Land 5.460 +0.100 JMH 52.330 +1.030 JSH 29.480 +0.380 Jardine
      112 words
    • Article
      Lock icon TOP GAINERS
      63 11 BY CENTS CLOSE UP DBXT MSKorea 10US$ 5363 330.6 5.4 GLD 10US$ ***** 310.1 1.5 DBXT SPASX200 10US$ 3329 135.2 3.5 JMH 5233 124.3 2.0 DBXT MSAsExJp 10US$ 2991 84.5 2.4 Lyxor AsiaCS 10US$ 5268 84.5 1.3 DBXT MSEurope 10US$ 4152 77.2 1.6 DBXT MSTHAI 10US$ 1631 65.2
      63 words
    • Article
      Lock icon TOP LOSERS
      55 11 BY CENTS CLOSEDOWN UOB.ES.1108 1794 -54.0 -2.9 ShangriLa Asia 1706 -26.9 -9.3 DBXT MSMSIA 10US$ 1266 -21.7 -1.4 DBXT MSEmerAsi 10US$ 354 -13.3 -3.0 MapletreeInd 20 106 -10.0 -8.6 UOB 5.05%NCPS 100 ***** -10.0 -0.1 STI 3100BPePW*****9 62 -9.5 -13.3 STI 3150BPePW*****8 77.5 -9.5 -10.9 DBS Bk 4.7%
      55 words
    • Article
      Lock icon Chip Eng Seng unit wins $113m HDB contract
      180 11  -  By Victoria Ho vhoip@sph.com.sg Singapore CHIP Eng Seng Contractors has won a $113 million contract with the Housing Development Board (HDB). The contract is for building works at Hougang Neighbourhood 4, comprising five blocks of residential buildings with 792 units and a
      180 words
    • Article
      Lock icon Sim Lian reports 113% jump in 2011 net
      326 12 Property development division books higher revenue; company to give 4.8¢ dividend SIM Lian Group yesterday reported a 113 per cent climb in net profit to $200.3 million for the full year ended June 30, 2011. The property group said that earnings rose
      326 words
    • Article, Illustration
      Lock icon OSIM withdrawing proposed TDR issue
      339 12  -  By Lynette Khoo lynkhoo@sph.com.sg Singapore OSIM International has become the latest in a string of companies to pull back from secondary listings due to poor market conditions. The lifestyle products firm yesterday cited “ongoing disruption in the global financial markets” as the reason for doing
      FILE PHOTO  -  339 words
    • Article
      Lock icon Stratech proposes rights issue to raise $5.24m
      328 12 Up to 345m shares to be priced at 1.8 cts STRATECH Systems Ltd intends to implement a renounceable non-underwritten rights issue to raise $5.24 million in net proceeds. The technology company has proposed to issue up to 345,576,974 new ordinary shares at 1.8
      328 words
    • Article
      Lock icon World’s first OTC swap for coking coal transacted
      246 12 THE world’s first coking coal swap transaction via an over-the-counter contract was completed yesterday. The contract was between Credit Suisse and “a major coal industry participant” for 60,000 tonnes of coking coal which is needed to make steel at an undisclosed price,
      246 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Hungry Ghost spooks property auctions
      461 13  -  Only one property sold; 34 put up for auction the 2nd lowest in 14 years for lunar seventh month; consultant says owners prefer renting to generate better yields By Uma Shankari shankari@sph.com.sg IT WAS a quiet Hungry Ghost Festival this year for the property auction
      Source: Colliers International Singapore Research  -  461 words
    • Article
      Lock icon LTA awards Downtown Line 3 jobs worth $563m
      362 13 THE Land Transport Authority (LTA) has awarded the last three civil contracts for the Downtown Line 3 (DTL3) project. The contracts have a combined value of $563.35 million. The largest of the three contracts, for the construction of Upper Changi station and
      362 words
    • Article
      Lock icon Problem gambling panel sees new faces
      335 13 There’s a lawyer, a police consultant and a psychiatrist THREE new members have been appointed to serve on the National Council on Problem Gambling for a two-year term starting tomorrow, the Ministry for Community Development, Youth and Sports announced yesterday. Lim Hock San, current
      335 words
    • Article, Illustration
      Lock icon Fervour over private apartments seems to be losing steam
      541 14  -  Prices for non-landed homes up just 0.2% in July, against 0.7% a month earlier By Mindy Tan tanmindy@sph.com.sg THE housing market is becoming increasingly subdued, with previously bullish small units under pressure, the Singapore Residential Price Index (SRPI) shows. The overall
      FILE PHOTO  -  541 words
    • Article
      Lock icon OKP wins $46.8m contract to work on Alexandra Canal
      277 14  -  This is the company’s seventh contract won this year By Victoria Ho vhipo@sph.com.sg MAINBOARD-LISTED OKP Holdings has won a $46.8 million contract from the Public Utilities Board (PUB) to work on the Alexandra Canal. The canal, situated between Zion Road and
      277 words
    • Article
      Lock icon New requirements for minors getting married
      256 14 MINOR couples looking to get hitched will from Thursday have to attend a marriage preparation programme before a marriage licence is issued. Anyone seeking to remarry will also have to declare maintenance arrears, first. The change in marriage requirements for minors is to ensure
      256 words
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  • SME INC
    • Article, Illustration
      Lock icon Restructuring undergirds expansion
      794 15  -  HG Metal looks to grow beyond Singapore, and diversify its products and services. small caps By Tam Yu Ling btnews@sph.com.sg HAVINGriddenthrough several tumultuous years that included a boardroom tussle, management changes, and a global financial crisis, mainboard-listed HG Metal Manufacturing Ltd is looking forward to a strong
      ARTHUR LEE  -  794 words
    • Article, Illustration
      Lock icon Going green and Griener
      932 16  -  Firdaus Iqbal hopes to make a difference with his waterless car wash service. By Michelle Yeo btnews@sph.com.sg THE average car wash offered in any standard Singapore petrol kiosk uses up more than 120 litres of water per car. This is both troubling and unacceptable, for Firdaus
      ARTHUR LEE  -  932 words
    • Article, Illustration
      Lock icon Going mobile for that vital edge
      799 17  -  Beating the competition increasingly involves making decisions instantly and responding faster. The more mobile SMEs get, the better. By Kowshik Sriman commentary By Kowshik Sriman ~The writer is managing director of SAP Singapore THE new era of mul-ti-tasking on-the-go is here. Business deals can
      BLOOMBERG  -  799 words
    • Article
      Lock icon Reveal only moderated grade in performance appraisal
      341 17  -  ask nus profs ~Mathew Linus, ~Mathew Linus, Department of Management Organisation, NUS Business School Q: The moderation of grades, or ranking, at the end of the performance appraisal period seems to be a common practice, but what is the right way to do
      341 words
    • Article, Illustration
      Lock icon Falcon soars far and wide
      1007 18  -  The furniture maker is entering the retail market and has set its sights on breaking into new export markets. By Leonard Law Yu Cheng, Daelus Lu Jiaji, Apple Ye Qing ~The writers are students at NUS Business School FURNITURE manufacturer Falcon Incorporation is venturing into
      FILE PHOTO  -  1,007 words
    • Article, Illustration
      Lock icon iKnow finds it profitable to play a whole new ball game
      901 19  -  With an ‘entrepreneurial mindset’, the firm adopted a new business model and an innovative distribution channel for its products. By Antonio Maria D’Orey Belmar Da Costa, Aurelie Stephanie Nathalie Arnaud and Derya Ay By Antonio Maria D'Orey Belmar Da
      ARTHUR LEE  -  901 words
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  • WORLD
    • Article, Illustration
      Lock icon China steps up scheme to help poor households
      536 20 Move to link welfare payments to inflation rates aimed at maintaining social stability Bloomberg Beijing CHINA has accelerated a programme giving subsidies to lowincome households to help maintain social stability as the fastest inflation in three years erodes consumers’ spending power. The
      Bloomberg; REUTERS  -  536 words
    • Article
      Lock icon Sands China H1 profit soars
      225 20 AFP Hong Kong THE Macau unit of casino giant Las Vegas Sands said yesterday that first-half net profit more than doubled, driven by soaring gambling revenuegrowth in the former Portuguese colony. SandsChina’s profit in the first six months rose to US$539.5 million, from US$250.5 million
      AFP  -  225 words
    • Article
      Lock icon FDI in M’sia jumps 76% to RM21b in H1
      215 20 Bernama Kuala Lumpur MALAYSIA has performed well in wooing foreign direct investments (FDIs) in the first half of this year, having attracted RM21.3 billion (S$8.7 billion), up 76 per cent, compared with RM12.1 billion for the same period last year. International
      Bernama  -  215 words
    • Article
      Lock icon Tighter rules loom for Indian finance firms
      329 20 Reuters Mumbai THE Indian central bank may increase lending and provisioning rules for financial firms that do not operate as banks, tightening regulations for an industry that has grown rapidly owing to light-touch regulation. Non-bank finance companies (NBFCs) in India provide mostly small
      Reuters  -  329 words
    • Article, Illustration
      Lock icon Obama nominates Krueger as top economic adviser
      531 21 Pending home sales index shows weakness, falling first time in 3 months latest us data AFP Bloomberg Washington PRESIDENT Barack Obama yesterday nominated Alan Krueger, a Princeton University authority on unemployment, as his top economic adviser to prepare a new jobs plan while
      AFP; Bloomberg; BLOOMBERG  -  531 words
    • Article, Illustration
      Lock icon Bank of America sells CCB stake for US$3.3b gain
      413 21 Bloomberg New York BANK of America Corp agreed to sell about half its stake in China Construction Bank Corp for a US$3.3 billion gain as the largest US lender bolsters capital ahead of new international standards. A group of investors will
      Bloomberg; AFP  -  413 words
    • Article
      Lock icon Two of Greece’s biggest banks to merge; shares surge
      360 21 Bloomberg Athens GREECE’S second and third largest lenders, Eurobank and Alpha Bank, yesterday announced plans to merge in order to better withstand the country’s acute financial crisis. The widely anticipated move would create Greece’s biggest bank, and will see a 500
      Bloomberg  -  360 words
    • Article, Illustration
      Lock icon Central bankers pass the buck to politicians
      607 22 Most economic policies that support robust economic growth are beyond the central bank: Bernanke Bloomberg Jackson Hole, Wyoming CENTRAL bankers gathered at an annual retreat in Jackson Hole, Wyoming, over the weekend had a clear message for political leaders: monetary policy alone can’t
      Bloomberg; AFP, BLOOMBERG  -  607 words
    • Article
      Lock icon Spain’s proposed fiscal rule is credit positive: Moody’s
      298 22 Bloomberg Madrid SPANISH Prime Minister Jose Luis Rodriguez Zapatero’s proposal to enshrine budget discipline in the constitution is “credit positive”, Moody’s Investors Service said. The proposal, backed by the opposition People’s Party, shows that “broad consensus and a commitment across political parties
      Bloomberg  -  298 words
    • Article
      Lock icon Finland threatens to upset rescue cart
      546 22 NYT Frankfurt FRANCE and Germany may effectively run the European Union, but Finland has demonstrated how even a small country can disrupt their grand designs. By insisting that it receive collateral from Greece in return for aid, Finland is threatening to upend an agreement
      NYT  -  546 words
    • Article
      Lock icon Samsung defers Galaxy’s Aussie debut again
      524 23 Apple scores second delay as tablet rivals await end-Sept hearing on Apple’s request for injunction Bloomberg AFP Sydney SAMSUNG Electronics Co agreed to push back the introduction of its newest tablet computer in Australia until the end of next month, the second delay in
      Bloomberg; AFP  -  524 words
    • Article, Illustration
      Lock icon US banks confront a leaner future
      614 23 NYT New York BATTERED by a weak economy, the nation’s biggest banks are cutting jobs, consolidating businesses and scrambling for new sources of income in anticipation of a fundamentally altered financial landscape requiring leaner operations. Bank executives and analysts had expected a temporary drop
      NYT  -  614 words
    • Article
      Lock icon US$ still cheap in purchasing power terms despite Aug rise
      571 24 It’s regaining haven status as Japan and Switzerland check their currencies’ gains Bloomberg New York THE purchasing power of the dollar remains undervalued, even as the greenback is poised for its biggest monthly gain since May and is reclaiming its
      Bloomberg  -  571 words
    • Article
      Lock icon Canada regulator plays hardball with Sino-Forest
      355 24 Bloomberg Toronto THE moves by Canada’s main securities watchdog to suspend trading in Sino-Forest Corp and the subsequent resignation of the chief executive officer underscores the “urgency” of the probe by the Ontario Securities Commission into the company that it says may have committed
      Bloomberg  -  355 words
    • Article, Illustration
      Lock icon Mobius predicts that US will avoid a recession
      342 24 Bloomberg Hong Kong THE US economy will avoid a recession and China’s yuan will be a “major force” as a reserve currency in five years, predicted Templeton Asset Management’s Mark Mobius. Federal Reserve chairman Ben Bernanke’sspeech in JacksonHole, Wyoming last week signalled
      Bloomberg  -  342 words
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  • Page 23 Advertisements
    • Advertisement
      Lock icon Page 23 Advertisements Column 1
      58 23 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.
      58 words
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  • Article
    Lock icon SHIPPING TIMES
    2870 25 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN Camden/New Orleans/Tampico Destination JIMFLUSH Muscat/Sharjah/Doha *Loads
    2,870 words
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  • Page 27 Advertisements
    • Advertisement
      Lock icon Page 27 Advertisements Column 1
      27 27 Importers looking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327. THE BUSINESS TIMES SHIPPING TIMES
      27 words
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  • AVIATION/SHIPPING
    • Article
      Lock icon AMR’s borrowing costs seen rising
      629 28 Plans to spin off regional carrier could sap cash and jack up debt-to-earnings ratio Bloomberg New York AMR Corp’s costs to borrow are poised to rise as it seeks to spin off its regional carrier, sapping cash and boosting the ratio of debt to earnings
      Bloomberg  -  629 words
    • Article
      Lock icon Treasures from shipwrecks on display in KL
      595 28 Bernama Kuala Lumpur SEAFARERS from all over the world have sailed through the waters of the Malay archipelago for centuries. Some of their vessels succumbed to inclement weather, leaks or attack and ended at the bottom of the sea. Many came from China,
      Bernama  -  595 words
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  • AVIATION
    • Article
      Lock icon Cathay plans premium-economy by Q2 2012
      430 29 New seats to be available on flights to Europe, North America, Australia, Middle East and India Bloomberg Hong Kong CATHAY Pacific Airways, Asia’s largest international carrier, plans to add premium-economy seats by the second quarter of 2012 to tempt coach travellers into paying higher
      Bloomberg  -  430 words
    • Article, Illustration
      Lock icon 7 hurt after jumping off Gulf Air plane that had skidded
      326 29 AP Thiruvananthapuram, India TERRIFIED passengers jumped out of a plane in India yesterday after it skidded to a halt on landing, trying to escape before emergency ladders were put in place, officials said. Seven passengers were injured in the
      AP  -  326 words
    • Article
      Lock icon Air China to boost domestic capacity
      236 29 Bloomberg Hong Kong AIR China Ltd, the world’s largest carrier by market value, will accelerate capacity expansion on domestic routes in the second half to meet rising travel demand in the world’s fastest-growing major economy. The airline will increase domestic capacity by 10 per
      Bloomberg  -  236 words
  • Page 29 Miscellaneous
    • Miscellaneous
      Lock icon Page 29 Miscellaneous Column 1
      328 29 CRYPTIC CROSSWORD Across 2 Ashamed to opt for stewing such food (6,6) 8 Centre of fashion also known as a dance (4) 9 They may help mountaineers with choices of water (3,5) 10 Pretend bullets regularly going missing from mess (8) 11 Book is first-class a source of hope (6)
      328 words
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon Death of a valuable resource
      813 30  -  Without the Stat Abstract, statistics will become more hidden, and our collective knowledge will suffer Robert Samuelson The Washington Post Writers Group IF YOU want to know something about America, there are few better places to start than the Statistical Abstract of the United States.
      The Washington Post Writers Group; AFP  -  813 words
    • Article, Illustration
      Lock icon Musical chair leadership
      830 31  -  Japan’s problem is an impenetrable structure that repels the ideas and policies of leader after leader William Pesek Jr ~William Pesek is a Bloomberg View columnist. The opinions expressed are his own Bloomberg THINGSarebadwhen a world leader quitting registers less than a corporate executive. That’s what Naoto
      Bloomberg; XINHUA  -  830 words
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  • SGX
    • Article
      Lock icon SGX CATALIST
      9853 35 Transaction date: Aug 29 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 $mil 21 12 8Telecom 12.8 11.5 14 7.8 4.8 2.7 61.3 9.5 4.5 A-Sonic 4.9 -0.1 132 5.1 4.9 4.9 5.8 2.7
      9,853 words
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      Lock icon SECURITIES TRADING SCOREBOARD
      186 35 MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 10 2 3 0 0 0 10 2 3 Manufacturing 72 25 38 9 5 3 81 30 41 Commerce 35 10 9 8 3 1 43 13 10 Tpt/Stor/Comms 30 6 8
      186 words
    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      799 35 For week beginning Aug 22 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Pertama Hldgs 26-Aug-11 Harvey Norman Spore PL Buy 33 na ***** 29.12 ***** 29.14 Marco Polo 25-Aug-11
      799 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      119 35 TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 40,597 40,597 92,245 92,245 Manufacturing 178,656 12,010 190,666 152,131 198 152,329 Commerce 252,342 2,993 255,335 184,493 1,094 185,587 Tpt/Stor/Comms 126,621 792 127,413 180,016 78 180,094 Finance 16,895 60 16,955 152,380 13 152,393 Construction 36,131 13,924
      119 words
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  • MARKETS
    • Article
      Lock icon OIL
      75 36 Aug 26 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 110.98 0.32 WTI (Near Mth) 85.36 0.35 Dubai (1-Mth F) 105.84 -0.50 Tapis blend 117.94 -0.45 Minas 112.69 -0.45 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 105.00 -0.11 Jet Kerosene 122.76 -2.58 US$/barrel Opec Oil Basket Price
      75 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      118 36 Aug 29 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.316 1.242 Can dollar 1.249 1.201 Euro 1.775 1.707 Sterling pound 2.004 1.927 NZ dollar 1.04 0.991 US dollar 1.219 1.173 Local dollars to 100 units of foreign currency: Currencies Sell
      118 words
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      Lock icon METALS
      67 36 Aug 29 GOLD (US$/oz) Aug 26 Aug 29 Hong Kong 1789.*****1.00 Aug 25 Aug 26 London 1741.*****8.04 1742.*****9.75 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 49.89 49.37 Source: UOB PLATINUM Lon (US$/oz) Aug 26 Close Previous PM Fix 1812.*****0.00 AM Fix 1824.*****5.00 Source: Thomson Reuters PLATINUM NYMEX
      67 words
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      Lock icon GOVERNMENT SECURITIES
      106 36 Aug 29 Sep-11 1.0483 1.0401 1.0416 1.0455 Sep-11 9042.00 8842.00 8995.00 8815 Oct-11 85.76 85.04 85.44 85.17 Aug-11 181.00 178.50 179.20 177.4 Sep-11 180.60 178.00 179.00 176.2 TREASURY BILLS-. PeriodSe Issue420 Maturity89 Yesterday's8815 Day's code Bid High Low 3-Month-BQ*****Z. 01.12.2011. 0.18. 1-Year BY*****X 02.05.2012 0.17 GOVERNMENT BONDS Period
      106 words
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      Lock icon INTERBANK CURRENCY RATES
      154 36 Aug 29 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2808 1.2822 1.0614 1.0618 Canadian dollar 1.2333 1.2350 1.0221 1.0227 Euro 1.7527 1.7545 1.4525 1.4529 NZ dollar 1.0200 1.0214 0.8453 0.8458 Sterling pound 1.9778 1.9797 1.6390 1.6394
      154 words
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      Lock icon STOCKS
      89 36 YTD change: -12.48% 52-week high: 3,313.61 on Nov 9,2010 52-week low: 2,680.83 on Aug 22,2011 Source: Bloomberg YTD change: -8.25% 52-week high: 3,186.72 on Nov 11,2010 52-week low: 2,437.68 on Aug 9,2011 Source: Bloomberg YTD change:-13.76% 52-week high: 24,988.50 on Nov 8,2010 52-week low: 18,868.10 on Aug 9,2011 Source:
      Source: Bloomberg  -  89 words
    • Article, Illustration
      Lock icon SMX MARKET UPDATE
      104 36 As on 26 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 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
      104 words
    • Article
      Lock icon LIFFE
      82 36 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$/tonne) Close Prev High/Low Sep 11 2340 2345 2381/2323 Nov 11 2362 unch 2407/2326 Jan 12 2377 unch 2419/2349 Mar 12
      82 words
    • Article
      Lock icon CHICAGO BOT
      93 36 Aug 26 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Sep 11 1414.*****6.*****8.*****9.00 Nov 11 1423.*****2.*****6.*****6.25 Jan 12 1432.*****3.*****5.*****6.50 Mar 12 1432.*****6.*****5.*****8.75 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Sep 11 56.60 55.60 56.65 55.33 Oct 11 56.93 55.79 56.78 55.51 Dec 11 57.32 56.13 57.35
      93 words
    • Article
      Lock icon PALM OIL
      61 36 Aug 29 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 11 3094 N/A 3151 3094 221 2096 Oct 11 3041 3061 3041 842 ***** Nov 11 3007 3024 3006 2862 ***** Dec 11 3003 3012 2998 559
      61 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INT`L INDICES
      374 36 In local curr In S$ 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
      374 words
    • Article
      Lock icon LONDON METALS
      73 36 Aug 26 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2343.50 2331.00 3 months 2378.00 2366.00 Copper, Grade A (US$/tonne) Cash 9061.75 9016.50 3 months 9075.00 9030.00 Lead (US$/tonne) Cash 2490.25 2406.50 3 months 2485.00 2401.50 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
      73 words
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  • PROPERTY
    • Article
      Lock icon Poly Real Estate’s H1 profit up 71.7% at 2.8b yuan
      213 37 Xinhua Beijing POLY Real Estate Group Co, the country’s second-largest developer by market value, said on Sunday that its first-half net profits surged 71.7 per cent to 2.8 billion yuan (S$530 million). Sales increased 35.1 per cent to 15.2 billion
      Xinhua  -  213 words
    • Article, Illustration
      Lock icon Beijing cuts commission fees for home sales
      365 37 People buying existing homes in the city would pay 20% less on commissions, 80% less on other services provided by estate agents Reuters Beijing THE Chinese capital Beijing will soon lower service commissions that real estate agents can charge on sales of existing
      Reuters; PHIOTO: BLOOMBERG  -  365 words
    • Article, Illustration
      Lock icon India developers sell assets to ease debt load
      868 38 High interest rates of up to 20%, a slowing economy make it harder for them to repay debt; profits down 20% in second quarter Bloomberg Mumbai INDIA’S real-estate companies are selling assets as interest rates as high as 20 per cent and
      Bloomberg; AFP  -  868 words
    • Article
      Lock icon Macquarie-led group eyes Charter Hall Office
      501 39 Investor group offers A$3.52 a share, valuing Reit at A$1.7 billion; independent directors of office Reit yet to form view on proposal Bloomberg Sydney MACQUARIE Group is leading investors in an offer to buy the shares of Charter Hall Office Reit not owned by
      Bloomberg  -  501 words
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      Lock icon UK house prices fall for fourth month in August: Hometrack
      386 39 Bloomberg London UK house prices fell for a fourth month in August and demand for homes may weaken further this year, property researcher Hometrack Ltd says. The average cost of a home slipped 0.1 per cent from July and was
      Bloomberg; BLOOMBERG  -  386 words
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      Lock icon Cheung Kong blazes trail amid turmoil
      816 40 It’s capitalising on the plunge in interest rates in Singapore to issue a perpetual bond with a structure that’s highly unusual in Asia, though common in Latin America IFR Hong Kong CHEUNG Kong Holdings, one of Asia’sbest-known corporateissuers, showed a silver lining to the
      IFR; AFP  -  816 words
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      26 37 -«rc«Lt. J 'UKtY TERRACE Check this out and many other properties in CATS Classified in The Straits Times now! AT3 BUY IT. SELL IT• FIND IT
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