The Business Times, 2 September 2011

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Total Pages: 30
1 30 The Business Times
  • 24 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg Sfh A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 120/08/2011 Friday, September 2, 2011
    24 words
  • 695 1  -  He stresses prudence to safeguard nest-egg but says challenging times may lie ahead By LEE U-WEN [SINGAPORE] The speeches of both leaders carried a common refrain that Singapore’s long-term success would depend on its ability to live within its means and to draw
    NEO XIAOBIN/THE STRAITS  -  695 words
  • 431 1  -  By VICTORIA HO [SINGAPORE] After a near-stampede at the opening of the Comex IT show yesterday morning, Hewlett-Packard will stop standalone sales of its TouchPad tablet device, citing “safety and security concerns”. The PC maker’s offering of its discontinued TouchPad at
    431 words
  • 140 1 HST INDEX 2,867.18 (-18.08) HST INDEX FUTURES 2,868 (-15) HSIMSCI 327.92 (-2.43) HSIMSCI FUTURES 327.00 (-2.00) FOREX US$ S$ US$ (S$ per US$) 1.204 (US$/S$ per 1.623 1.954 EURO (US$/S$/E) 1.430 1.721 Foreign currency per US$ S$ YEN 76.90 63.90 RM 2.989 2.483 HK$ 7.785 6.468 BAHT 29.96
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  • 504 1  -  By TEH SHI NING [SINGAPORE] Various leading indicators now point to a 59 per cent chance of Singapore entering a recession, says a Bank of America Merrill Lynch (BofAML) report. Stock prices, tech industrial production, the electronics leading index and the purchasing managers’
    504 words
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  • TOP STORIES
    • 560 2 President Tan spells out stand on reserves FRESH from being sworn in at the Istana as Singapore’s seventh President last night, Tony Tan promised to play his role in safeguarding the reserves, which he said had been built up over decades and should not be compromised at any
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    • 418 2  - Rajah Tann wins Brunei telecoms tender Law firm to help update the country’s telecom regulatory framework By GRACE LEONG [SINGAPORE] Law firm Rajah Tann LLP has won a tender to help update Brunei’s telecommunications regulatory framework, beating several international consortiums and firms including Drew Napier, Baker McKenzie and KPMG. The
      418 words
    • 556 2  -  By MINDY TAN [SINGAPORE] Hong Kong’s property prices rose 26.5 per cent in the last 12 months, posting the largest increase for this period, according to Knight Frank Global House Price Index. According to the latest price index based on
      BLOOMBERG  -  556 words
    • 318 2  -  By JOYCE HOOI [SINGAPORE] StarHub has renewed its contract to carry content from Fox International Channels (FIC) in a non-exclusive deal, it announced yesterday. This deal is the first major renewal of its kind since the changes in the Media Market Conduct Code laid
      318 words
    • 763 4  -  Fund raises red flag over valuation of sovereign bond losses on books By NEIL BEHRMANN in London EUROPEAN stock markets are jittery once again following leaks that the International Monetary Fund (IMF) is concerned about large sovereign bond losses on the books of
      REUTERS  -  763 words
    • 351 4  -  By GEORGE HAY REUTERS BREAKINGVIEWS EUROZONE politicians have come out fighting. Draft research from the International Monetary Fund (IMF) suggests European banks would face a 200 billion euro (S$347 billion) capital shortfall if all their holdings of flaky peripheral sovereign debt were marked to market.
      REUTERS  -  351 words
    • 474 4  -  By RONNIE LIM [SINGAPORE] Japan’s Zeon Corporation which broke ground on Jurong Island yesterday for its new $240 million synthetic rubber plant is considering another major $1 billion-plus petrochemicals investment in Singapore. “We expect to make a decision as soon as possible,” said its
      474 words
    • 641 4 Reuters [HONG KONG] Several investment banks have approached Fiat SpA in recent weeks with a proposal to list legendary sports car maker Ferrari on the Hong Kong stock exchange, four sources with direct knowledge of the matter told Reuters. A potential initial
      Reuters; FILE PHOTO  -  641 words
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  • Page 3 Advertisements
    • 131 3 Europe s best airline. 18.8 million voted. One was named. Every year, Skytrax, the world's civil aviation audit and service benchmarking programme, announces the best in the airline business. They do this by simply asking frequent flyers. In 2010,18.8 million passengers were asked to choose their favorite airline in Europe.
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  • Page 4 Advertisements
    • 346 4 SINGAPORE'S ££*****1.T CONSUMER TECHNOLOGY EXHIBITION www.comexshow.com.sg/offer Join us at facebook 4 DAYS ONLY! V -4 th September SUNTEC SINGAPORE LEVELS Q> 0 O G 12 Noon 9 pm Daily FREE ADMISSION jl Comex Special Pull-out In Digital Life on 31st August (Wed) The Straits Times on 1st September (Thurs) 1
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  • COMPANY NEWS
    • 728 5  -  Majority report lower earnings or losses; headwinds forecast to continue in H2 By LYNETTE KHOO COST pressures and a rising yuan continued to take their toll on many Singa-pore-listed Chinese firms (S-chips). Of the 95 S-chips which have announced results for the April-June second
      728 words
    • 984 5  -  HOCK LOCK SIEW By WONG WEI KONG CREATIVE Technology on the watch list of the Singapore Exchange? Even the hint of such a possibility would have once been unthinkable. This isn’t a struggling SME or S-chip. This is Creative, once a market darling,
      984 words
    • 344 7  -  Firm’s shares jump on news of the move, propelling it to top-20 volume list By CARINE LEE GLOBAL Logistic Properties (GLP) and the Canada Pension Plan Investment Board (CPPIB) have formed a joint venture (JV) to develop modern logistics facilities in
      344 words
    • 394 7  -  By MINDY TAN HOMEGROWN supermarket chain Sheng Siong yesterday announced that it had entered a lease agreement to secure premises for a new store in Woodlands, its first announcement since its initial public offering (IPO) last month. The group entered the lease agreement
      FILE PHOTO  -  394 words
    • 564 7  -  Further provisions for impairment losses seen unlikely By LYNETTE KHOO HAVING put the nightmare of impairment loss provisions behind it, HanKore Environment Tech Group is now expected to swing back into the black for the current financial year ending June 2012. The group,
      564 words
    • 445 8  -  HSBC official singles out telecoms, utilities, consumer retail, food sectors By MICHELLE TAN BEING in defensive sectors such as food, retail, telecom or utilities would certainly serve one well in an increasingly challenging initial public offering (IPO) landscape, said HSBC managing director and co-head of
      445 words
    • 459 8  -  It invests in high dividend yield Asian equities, corporate bonds By SIOW LI SEN SCHRODERS Singapore is launching a 6 per cent Schroder Asian Income fund with monthly payout. This possibly makes it the highest yield income fund to be sold here. It can
      459 words
    • 574 8 Reuters [SINGAPORE] Swiber Holdings is hoping to secure an offshore services contract from a major oil company based in Brunei that would pay the company US$80-100 million every year to 2016, its chief executive officer said. “Brunei has been doing offshore oil and gas
      Reuters  -  574 words
  • Page 5 Advertisements
    • 179 5 THE MOST COVETED r Jr V AMONG I THE 5 C'S. i m mm >5 v WW a A jfi 1 K! W CITROEN C5 'it a i CITROEN C5 1.6 THP 155 i* IS gig o- v •-i^urTV r o P*k fe*a$ The CITROEN C5. A perfect fusion of
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  • SINGAPORE MARKETS
    • 532 6  -  Heavy profit taking and rising volatility reign as market players doubt the sustainability of Wednesday’s rally STOCKS VEN SREENIVASAN Senior Correspondent IT WAS too good to last. After the strongest single session rally in two years, the Straits Times Index pulled back as old fears
      Source: Bloomberg  -  532 words
    • 4 6 DAILY
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    • 65 6 Sep 1 VALUE CLOSE BT OB/OS 45.00-158.00 BT CADI -*****.00 -95.00 BT 10-day MA -*****.00 +5.00 FTSE ST Mid Cap 661.60 -3.06 FTSE ST Small Cap 446.81 -5.09 FTSE ST All Share 694.04 -4.40 FTSE ST China Top 209.32 -2.23 FTSE ST China 247.03 -0.99 FTSE ST
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    • 186 6 MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 9 1 0 0 0 4 9 1 Manufacturing 41 74 38 7 8 3 48 82 41 Commerce 18 26 19 3 7 3 21 33 22 Tpt/Stor/Comms 10 24 11
      186 words
    • BROKERS’ TAKE
      • Article, Illustration
        449 6 Sept 1 close: $2.26 OCBC INVESTMENT RESEARCH, Sept 1 THE TFK earnings drag: SATS Ltd reiterated that the recently acquired TFK Corporation is not expected to have a material impact on FY12 earnings, but we are unconvinced. TFK’s output volumes have trended lower since early 2010 due to Japan
        Source: Bloomberg  -  449 words
      • 325 6  -  Sept 1 close: $0.395 DMG PARTNERS RESEARCH, Sept 1 Compiled by LYNETTE KHOO Q4 FY11 results boosted by revaluation gains. Second Chance achieved revenue growth of 6 per cent y-o-y to $49.1 million and Ebit of $16.7 million (+14.1 per cent y-o-y). The results were in line
        325 words
      • 136 6 Ebit earnings before interest and tax Ebitda earnings before interest, tax, depreciation and amortisation EPS earnings per share FY fiscal/financial year H1, H2 first or second half m-o-m month on month NAV net asset value 9M nine months P/B price/book value (ratio) PE price/earnings (ratio) Q1, Q2, Q3 first,
        136 words
    • 121 6 TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 47,768 47,768 134,314 134,314 Manufacturing 275,079 24,443 299,522 259,978 287 260,266 Commerce 376,457 8,831 385,288 330,558 849 331,407 Tpt/Stor/Comms 193,195 4,528 197,723 266,019 447 266,467 Finance 25,462 65 25,527 261,484 14 261,498 Construction 86,024 60,913
      121 words
    • 113 6 Stock name Close Change CapMallsAsia 1.335 -0.025 CapitaLand 2.570 -0.050 CapitaMall 1.865 -0.005 CityDev 10.360 +0.280 ComfortDelGro 1.375 DBS Grp 13.150 -0.100 F&N 5.820 -0.080 GLP 1.740 +0.070 Genting SP 1.650 -0.015 Golden Agri 0.665 +0.005 HK Land 5.910 +0.110 JMH 54.180 -1.220 JSH 30.990 -0.380
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    • 504 6 CURRENCIES Reuters [NEW YORK] The euro slumped broadly yesterday as disappointing manufacturing data fanned fears of global economic deterioration, with more losses likely if US figures paint a similar picture. The safe-haven Swiss franc reigned against the euro and the dollar
      Reuters; AFP  -  504 words
    • 60 6 VOLUME Sheng Siong 246,221,000 Genting SP 167,183,000 Golden Agri 140,677,000 TopGlobal W*****9 74,461,000 Noble Grp 69,585,000 Cosco Corp 53,136,000 PSL Hldgs 52,893,000 Artivision 46,864,000 Yangzijiang 38,520,000 TopGlobal 36,231,000 VALUE($) Genting SP 285,010,865 Sheng Siong 126,761,940 Noble Grp 114,273,884 DBS Grp 101,267,104 Golden Agri 94,485,285 Keppel Corp 86,624,300
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    • 113 6 BY CENTS CLOSE UP DBXT MSEurope 10US$ 4282 156.4 3.1 DBXT MSJAP 10US$ 3689 138.4 3.2 Jardine C&C 4599 117.0 2.6 DBXT MSUSA 10US$ 2943 116.7 3.4 DBXT E50 10US$ 3710 92.7 2.1 Hyflux 6% CPS 10 ***** 80.0 0.8 OCBC Bk 5.1%NCPS 100 ***** 78.0 0.7 Lyxor EmergingMkts
      113 words
    • 121 6 BY CENTS CLOSE DOWN UOB 5.05%NCPS 100 *****-220.0 -2.1 DBS Bk 4.7% NCPS 100 *****-194.0 -1.8 JMH 5418-146.8 -2.2 GLD 10US$ ***** -96.3 -0.4 JSH 3099 -45.7 -1.2 DBXT FTChina25 10US$ 2822 -34.9 -1.0 STI 3000 DBePW*****3 37.5 -25.5 -40.5 UOB 1830 -25.0 -1.3 DBXT S&P Short 10US$ 4437
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    • 5 6 DAILY
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  • Page 8 Advertisements
    • 1083 8 w BEARS NOTICES NEWSPAPER NOTICE NOTICE IS HEREBY GIVEN that pursuant to Section 76(10)(h) of the Companies Act, Chapter 50 of Singapore, the following resolutions were duly passed as special resolutions at an extraordinary general meeting of Sinomem Technology Limited (Company Registration Number: *****8107G) (the "Company") deemed to have been
      1,083 words
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  • Page 9 Advertisements
    • 89 9 Luxury has progressed with lightweight technology. Change the game with the all-new lightweight Audi A6. 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 perennial successes at Le Mans. Featuring
      89 words

  • SINGAPORE NEWS
    • 441 10  -  Suburban rents are also likely to hold even with new supply, says Savills By NISHA RAMCHANDANI RENTS on Orchard Road are expected to stabilise this year, though the limited supply and constant demand suggests that there is potential for some upside for prime
      441 words
    • 373 10  -  By UMA SHANKARI WHITLEY Heights, a District 11 condominium development located off Thomson Road, has been sold to Hoi Hup Realty for $159 million or $1,222 per square foot (psf) of land area. The freehold development, which consists of 45
      373 words
    • 173 10 TO ADDRESS the issue of escalating claims, non-injury motor accident claims of $3,000 or less now have to be heard first by the Financial Industry Disputes Resolution Centre (FIDReC) before court proceedings can start. This has been raised from the
      173 words
    • 204 10 Faster connection with London as bandwidth is now 65 times larger NTT Singapore, a unit of NTT Communications Corporation, now has a faster telecommunications link with a larger bandwidth between Asean and Europe, it announced yesterday. As the result of an upgrade, the connection between
      204 words
    • 375 10  -  Women also prefer a male boss, says Randstad survey By CHUANG PECK MING MORE women prefer working with men, and having a male boss, says a recent survey by recruitment firm Randstad Workmonitor. But men say the workplace still dominated by males at
      375 words
    • 401 10  -  Region chalks up 12.2% increase in rents, study shows By NISHA RAMCHANDANI RETAIL markets worldwide have bounced back strongly in the last year with the Asia-Pacific leading the pack in terms of retail rental growth, a study shows. The Main Streets Across The World
      401 words
    • 346 10  -  By UMA SHANKARI A CONDOMINIUM housing plot at Punggol Field Walk drew a higher than expected eight bids at the close of the state tender yesterday. But analysts said that despite the good participation, the bid amounts signal developers’ caution. The
      346 words
    • 223 10 THE Singapore Workforce Development Agency (WDA) is setting aside $6.8 million to expand the manpower capabilities of the growing textile and fashion industry. This will involve a collaboration with the Textile and Fashion Federation (TaFf) to invest more than $2.8 million to
      223 words

  • Page 11 Advertisements
    • 87 11 CONGRATULATIONS TO OUR PRESIDENT, DR. TONY TAN KENG YAM President for all Singaporeans! Sfe^ 0k m > i s' 5 f i i i i 1 it i W\ i 1 l We support your vision of a better tomorrow for Singapore. OVERSEAS UNION ENTERPRISE LIMITED m MERITUS HOTELS RESORTS
      87 words

  • ECONOMY WATCH
    • 369 12 Bloomberg [BANGKOK] Thailand’s inflation rate accelerated last month to the fastest pace since 2008 as rising food prices countered a decline in oil costs. An index of consumer prices climbed 4.29 per cent from a year earlier, the Ministry of Commerce said in
      Bloomberg; AP  -  369 words
    • 234 12 AFP [SYDNEY] Australian retailing staged an unexpected recovery in July, figures showed yesterday, but the limping manufacturing industry slumped for another month due to the surging local dollar. Retail trade increased 0.5 per cent to A$20.65 billion (S$26.6 billion), according to the Australian
      AFP  -  234 words
    • 439 12 Survey shows slowdown is due to sharp fall in output and new orders Reuters [LONDON] Eurozone manufacturing activity contracted for the first time in almost two years last month due to a sharp downturn in output and new orders, a key business survey showed
      Reuters  -  439 words
  • Page 12 Advertisements
    • 428 12 Wine, Dine 8c Ho x. r L AKKL viT'V S 0 0 r W ivV i Vi^ Embark On A Gourmet Safari Your gourmet journey starts from Wine Vault at The Atrium to Keyaki, Hai Tien Lo, Zambuca and ends at The Atrium, with exciting culinary creations awaiting at every
      428 words

  • MALAYSIA
    • 661 13 Reprieve for VLCCs off Pasir Gudang as owners search for alternative sites Reuters [SINGAPORE] Seven floating oil storage facilities off Southern Malaysia have been given a two-week reprieve from eviction as required by a government notice that expired a day ago, industry sources
      Reuters  -  661 words
    • 305 13 Bernama [TAWAU] Malaysia Property Incorporated (MPI), an agency under the Sabah Economic Planning Unit, intends to host a property expo in East Kalimantan early next year. MPI second vice-president (investment promotion) Hizzan Hamid said that the expo is to promote the property sector
      Bernama  -  305 words
  • Page 13 Advertisements
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    • 75 13 Sotheby’s Hong Kong Autumn Sales 2011 SINGAPORE PREVIEW 11AM-5:30PM 3 SEPT I 11AM-6:30PM 4 SEPT THE ROYAL PAVILION BALLROOM, THE REGENT SINGAPORE Patek Philippe Ref 3939J A Fine and Very Rare Yellow Gold Minute Repeating Tourbillon Wristwatch with Enamel Dial, circa 1992 ESTIMATE HK$2,400,000 3,400,000 (US$308,000 436,000) Important Watches AUCTION
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  • GREATER CHINA/INDIA
    • 496 14 But figures also point to an uncertain future for exports AFP [HONG KONG] Manufacturing activity in China showed a small uptick in August but slumped in other big Asian economies, surveys said yesterday, as rising prices continue to frustrate regional governments. But while Beijing
      AFP  -  496 words
    • 165 14 Reuters [SHANGHAI] Beijing plans to restructure China Investment Corporation (CIC), including spinning off the sovereign wealth fund’s domestic investment arm, Central Huijin Investment Ltd, China Business News reported yesterday, without citing sources. The proposal is said to have been submitted to
      Reuters  -  165 words
    • 427 14 Bloomberg [NEW DELHI] India’s food inflation accelerated to a four-month high and exports surged, sustaining pressure on the central bank to raise interest rates even as growth slows. An index measuring wholesale prices of farm products including rice and wheat rose 10.05 per
      Bloomberg  -  427 words
  • Page 14 Advertisements
    • 2449 14 MATS NOTICES IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) And IN THE MATTER OF AMENTUM CAPITAL (SINGAPORE) PTE. LTD. (In Members’Voluntary Liquidation) (Co. reg. no. *****2954M) Extract of the Minutes of the Extraordinary General Meeting of Amentum Capital (Singapore) Pte. Ltd. signed by the Representative of the Holding
      2,449 words
    • 393 14 )(~:.^(-]>.]&=^&\"}\|?$[&)~()%& In the Matter of The Companies Act (Cap. 50) And In the Matter of Royal Copenhagen Singapore Pte. Ltd. (In Liquidation) Reg. No. *****9112N Notice of Final Meeting Notice is hereby given pursuant to Section 308 of the Companies Act, Cap 50 that the Final Meeting of the Member
      393 words
    • 317 14 Form 69(4) (Rule 101) NOTICE OF DIVIDEND Name of company E.K. Developments Pte Ltd (In Creditors’Voluntary Liquidation) (Company Registration No.*****1559R) Address of registered office Formerly of 8 Shenton Way, #39-06 Temasek Tower, Singapore *****1 Amount per centum 100 per centum of all admitted preferential claims 0.558 per centum of all
      317 words
    • 456 14 NOVO NOVO GROUP LTD. (Incorporated in Singapore with limited liability) (Company Registration No. *****2648H) Hong Kong Stock Code: 1048 Singapore Stock Code: MR8 NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting ("EGM") of Novo Group Ltd. (the "Company") will be held at Macau Jockey
      456 words

  • WORLD
    • 718 15 Strong currency hurting exporters, stalling growth Bloomberg [TOKYO] Incoming Prime Minister Yoshihiko Noda oversaw Japan’s biggest currency intervention in seven years last month as finance minister. He may have to take even bolder steps in his new job to rein
      Bloomberg; AFP  -  718 words
    • 426 15 This is against a 2.4% rise in prime office prices, as investors go for riskier assets, says CBRE Reuters [LONDON] Values of second-tier central London office blocks rose by twice as much as the best properties in the first half, as investors
      Reuters  -  426 words
    • 401 15 Strong Asian markets lifted its 2010-11 annual earnings Reuters [PARIS] French spirits group Pernod Ricard said that it was confident about its growth prospects after strong Asian markets lifted its 2010-11 annual earnings and helped defy a fragile global economy. The world’s second-lar-gest spirits
      Reuters  -  401 words
    • 518 15 Govt indecision undermining nation’s credibility abroad AFP [MILAN] Concern is growing in Italy that government flip-flopping on a new package of tough austerity measures promised earlier this month to stave off a debt crisis is undermining Italy’s credibility and could make it an easy
      AFP; REUTERS  -  518 words
    • 736 15  -  But proportion at between 9 and 34% is well below 50% of US debt By ANTHONY ROWLEY in Tokyo THE PROPORTION of Asian government debt in foreign hands is rising sharply, the Asian Development Bank (ADB) reported yesterday. This is true particularly
      736 words
    • 656 16 But non-farm productivity fell 0.7% in Q2 biggest decline since Q4 2008 LATEST US DATA Bloomberg Reuters [WASHINGTON] US manufacturing unexpectedly expanded in August, and there was also positive data from the Labor Department and retailers, showing that the two-year economic recovery may be
      Bloomberg; Reuters  -  656 words
    • 681 16 They’re seeking to book trades in lowertax jurisdictions Bloomberg [LONDON] Banks in Europe are exploring ways to cut costs by routing more of their trades and other business through overseas subsidiaries a plan that may shift tax revenue away from London and loosen
      Bloomberg; REUTERS  -  681 words
    • 488 16 Reuters [TOKYO] New Japanese Prime Minister Yoshihiko Noda has picked a like-minded fiscal conservative as finance minister in his Cabinet due to be unveiled today, local media reported. Private broadcasters TBS and Fuji TV said yesterday that former ruling party secretary general Katsuya
      Reuters; REUTERS  -  488 words
    • 552 16 Bloomberg [LONDON] Stocks of international companies that depend most on emerging markets for sales show developing nations won’t be strong enough to buoy the global economy. Goldman Sachs Group Inc’s gauge of US companies with the most develop-ing-nation revenue fell 15 per cent
      Bloomberg  -  552 words
    • 372 16 Reuters [LONDON] English Premier League soccer champions Manchester United reported record full-year profit and revenue, strengthening its hand ahead of a planned US$1 billion flotation in Singapore later this year. The club, which intends to start pre-marketing for the initial public offering
      Reuters  -  372 words
  • Page 15 Advertisements
    • 207 15 MATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF DIAMOND STONE PTE. LIMITED (IN MEMBERS'VOLUNTARY LIQUIDATION) (Co. Reg. No: *****3818Z) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act, Cap. 50 that the Final Meeting of
      207 words
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  • AVIATION/SHIPPING
    • 528 17  -  But freight markets stagnate with 0.4% demand decline over previous year levels By VEN SREENIVASAN [SINGAPORE] International air passenger travel in July grew 5.9 per cent over July 2010. But freight markets stagnated with a 0.4 per cent demand decline over previous
      AFP  -  528 words
    • 278 17 SGX '000 Sep 1 S$ +/-Vol CH Offshore 0.39 -0.02 128 Chuan Hup Hldg 0.22 -0.01 398 Cosco Corp 1.09 -0.04 ***** CWT Ltd 1.10 -0.02 1427 Ezra Hldgs 0.95 -0.05 ***** First Ship Lea 0.29 0.01 984 Freight Links 0.06 unch 805 Grand Banks unch unch 0
      278 words
    • 294 17 AFP [BERLIN] Germany has decided against installing body scanners across the country’s airports after a pilot scheme in Hamburg was blighted by false alarms, the interior ministry announced on Wednesday. “Based on the test results from the pilot scheme, Interior Minister Hans-Pe-ter Friedrich has decided
      AFP; REUTERS  -  294 words
    • 195 17 JURONG Port Pte Ltd has been named by JTC Corporation as the operator and manager of the Offshore Marine Centre (OMC) for the next three years. The Tuas View facility is expected to be operational by next January. It
      195 words
    • 527 17 Hamburg posts a 17% jump in H1 volumes Bloomberg [HAMBURG] Russia and other Baltic Sea states are cushioning Europe’s biggest container ports from the worst of the region’s debt crisis as their booming economies more than compensate for slowing growth in countries using
      Bloomberg  -  527 words
    • 261 17 Bloomberg [SHANGHAI] Vale SA, the world’s biggest exporter of iron ore, said that it has been in talks to engage Chinese shipping companies to haul the steelmaking material to China on its very large ore carriers under long-term contracts.
      Bloomberg  -  261 words
    • 403 17 Reuters [SINGAPORE] China’s Cosco Group will merge its dry bulk freight units to improve its bargaining power with ship owners, as it struggles with a severe market downturn and payment disputes that have tainted its reputation. The country’s top shipping conglomerate hopes to consolidate
      Reuters  -  403 words
  • Page 17 Advertisements
    • 206 17 SOUTH EAST ASIA AND SOUTH ASIA AUSTRALIA TRADE FACILITATION AGREEMENT NOTICE TO TRADE BUSINESS PLAN 2011 RATE RESTORATION EFFECTIVE 1 OCTOBER 2011 FROM SOUTH EAST ASIA AND SOUTH ASIA TO AUSTRALIA Reference is made to the Business Plan for 2011 announced by Members in December 2010. The following participating Member
      206 words

  • EDITORIAL & OPINION
    • 479 18 EDITORIAL THE fall of Libya’s Muammar Gaddafi and his dictatorial regime is good news for all of those who want to see the Libyan people and the other nations in the Arab Middle East free themselves from the rule of corrupt despots. Inspired
      479 words
    • 792 18  -  THE BOTTOM LINE ROBERT SAMUELSON WHEN it comes to energy, America is lucky to be next to Canada, whose proven oil reserves are estimated by Oil and Gas Journal at 175 billion barrels. This ranks just behind Saudi Arabia (260
      792 words
    • 904 18  -  Outlook is positive but curbs on foreign investments and market access may slow growth By JAN SCHILDBACH The writer is a banking analyst at Deutsche Bank Research. The report ‘Home, Sweet Home? International Banking after the Crisis’ is available at www. dbresearch. com
      AFP  -  904 words
    • 1148 19  -  Despite the challenges, there’s much in India’s growth story YOGI AGGARWAL THE Indian economy, which managed to sail through smoothly during the global financial crisis a couple of years ago, is now being buffeted by headwinds that threaten to slow down growth. The economy has
      AP  -  1,148 words
    • 225 19 LETTER TO THE EDITOR WE refer to the letter “SGX should clarify details of Manchester Utd Listing” (BT, Sept 1). We wish to point out that Singapore’s current policy does not allow listed companies to issue ordinary shares with different voting rights. The
      225 words
    • 1623 19  -  By SUSAN ANTILLA The writer, who has written about Wall Street and business for three decades and is the author of “Tales From the Boom-Boom Room”, a book about sexual harassment at financial companies, is a Bloomberg View columnist. The opinions
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  • SINGAPORE STOCKS
    • 8261 20 Transaction date: Sep 1 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 12 8Telecom 12.8 11.1 14.5 7.8 4.8 2.7 61.3 9.5 4.5 A-Sonic 5.2 +0.2 357 5.2 4.8 5.2 5.4
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    • 1565 21 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 15.6 -0.5 358 16.1 15.6 15.6 15.9 4.7 3.5 6 27.9 5.5 3.7 t AA Grp 4 2.8 3.9
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    • 10061 21 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.21/ APS Alpha Fund (USD)!** 1/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM -Talents Fund 0.61/ Aberdeen Asset Mgt Asia Limited American Opp 0.5741/ Asian Credit Fund
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    • 250 21 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 34 AVJennings A39cd 36.5 40 3.6 9 3.1 101.6 55 29 Genting HK US$ US35.5 -1.5 ***** 38.5 35.5 35.5 36 2337.5 20.5 10 OGL Resources
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    • 921 21 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 127 108 ABF SG Bond ETF 125 unch 50 125 123 115 125 570.6 1261 937 CIMBAsean40 100US$ US1048 +16 50 1050 1045 1027 1044 41.9
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  • FINANCE & COMMODITIES
    • 374 22 In local curr In S$ In US$ dy yr dy yr dy yr Aug 31 Index Change Change Change Change Change Change World Index Preliminary 826.0 1.3 -8.0 1.1 -11.1 1.4 -5.3 EAFE Preliminary 691.0 1.9 -13.7 1.8 -13.8 2.1 -8.1 Europe Preliminary 1007.7 2.6
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    • 77 22 CRUDE OIL PRODUCTS Aug 31 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 114.98 0.74 WTI (Near Mth) 88.91 0.15 Dubai (1-Mth F) 109.14 2.09 Tapis blend 121.71 2.47 Minas 116.46 2.47 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 107.20 2.03 Jet Kerosene 127.46 1.49 US$/barrel Opec Oil
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    • 163 22 Sep 1 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Oct 11 473.0 470.1 473.0 29 365 Nov 11 474.0 374 Dec 11 476.0 476.0 476.0 20 504 Jan 12 476.1 476.1 476.1 2 330 Feb 12 486.0 486.0
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    • 101 22 As on 31 August 2011 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE PREV CLOSE PRECIOUS METALS Silver DEC-11 41.830 41.245 41.760 41.475 CURRENCY US Dollar-Jap Yen SEP-11 76.69 76.52 76.68 76.7 Euro-US Dollar SEP-11 1.4462 1.4395 1.4409 1.4433 GBP-US Dollar SEP-11 1.6294 1.6282 1.6290 1.628 Aust-US Dollar SEP-11
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    • 107 22 Aug 31 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Sep 11 1449.00 1448.75 1456.00 1442.00 Nov 11 1457.50 1457.00 1465.00 1447.50 Jan 12 1467.25 1466.25 1474.25 1457.00 Mar 12 1468.75 1466.00 1475.75 1460.75 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Sep 11 58.55
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    • 81 22 Sep 1 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****Z 01.12.2011 0.17 1-Year BY*****X 02.05.2012 0.19 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 103.76 103.80 103.78 5-Year N*****0W 1.125 01.04.2016 102.83 103.00 102.90
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    • 448 22 Sep 1 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Sep11 99.6375 0 2503 Dec11 99.5000 0 1900 Mar12 99.5050 0 915 Jun12 99.5250 0 1074 EUROYEN TIBOR FUTURES Sep11 99.6700 99.6700 99.6700 99.6700 0 1525 Dec11 99.6950 4 2254 Mar12 99.6850 99.6850 99.6850 99.6950 0 2383
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    • 121 22 As at 9am Sep 01 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.328 1.253 Can dollar 1.254 1.206 Euro 1.761 1.694 Sterling pound 1.991 1.915 NZ dollar 1.054 1.004 US dollar 1.22 1.174 Local dollars to 100 units of foreign
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    • 29 22 Sep 1 Open High Sett STI Sep 2883 2883 2868 SIMSCI Sep 329.1 334.8 327.0 Taiwan Sep 273.1 278.8 272.6 Source: MF Global (5) Pte Ltd
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    • 2459 22 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 15 -10 15 1 150 29 8.53 32 ASJ Hldgs W*****1 0.5 1 4 29 7.00 5 AlliedTech W*****2 1.7 1 4 26 Aztech Grp W*****3 0.6 0.1
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    • 154 22 Sep 1 $S Offer Bid 0vernight 0.02 par 1-month 3/16 1/16 2-months 3/16 1/16 3-months 1/4 1/8 Overnight mode: 0.02 US$ 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
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    • 462 22 Sep 1 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.048 6.830 0.749 8.334 48.892 91.350 0.823 11.381 3.199 1.261 93.480 45.348 1.289 7.493 0.861 30.997 32.068 0.659 1.071 Canada 0.955 6.520
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    • 85 22 Sep 1 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths -0.***** 9 mths 0.***** 12 mths
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    • 138 22 Sep 1 GOLD (US$/oz) Sep 01 Aug 31 Hong Kong 1821.00 1833.30 Aug 31 Aug 30 London 1826.00 1827.90 1827.20 1829.10 Source: Thomson Reuters CAST BAR Sep 01 (S$) Selling Buying Kilobar 75,687.52 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 170 71 5gm 481 353 10gm 860
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    • 69 22 Aug 31 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2430.75 2387.50 3 months 2469.00 2425.00 Copper, Grade A (US$/tonne) Cash 9257.50 9145.50 3 months 9275.00 9160.00 Lead (US$/tonne) Cash 2594.00 2567.50 3 months 2580.00 2558.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
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    • 154 22 Sep 1 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2878 1.2895 1.0703 1.0708 Canadian dollar 1.2293 1.2309 1.0217 1.0222 Euro 1.7206 1.7221 1.4300 1.4301 NZ dollar 1.0215 1.0231 0.8490 0.8496 Sterling pound 1.9530 1.9553 1.6232 1.6237
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    • 22 22 Sep 1 S$ Bid Offer 1-month 1.2030 1.2041 2-months 1.2028 1.2039 3-months 1.2021 1.2033 6-months 1.1994 1.2009 Source: OCBC
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    • 61 22 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
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    • 82 22 Aug 31 COCOA (£/tonne) Close Prev High/Low Sep 11 1936 1928 1940/1923 Dec 11 1957 1946 1959/1944 Mar 12 1969 1962 1972/1958 May 12 1975 1967 1977/1966 COFFEE (US$/tonne) Close Pev High/Low Sep 11 2298 2325 2348/2290 Nov 11 2333 2352 2371/2318 Jan 12 2349 2368 2386/2336 Mar 12
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  • 5175 23 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 BIOGRAD Jebel Ali/Dammam
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  • Page 23 Advertisements
    • 41 23 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
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  • executive lifestyle
    • 2099 25  -  Art jamming is the buzzword now for lay folk to meet and mingle, reports NATALIE KOH NATALIE KOH IF clubbing or karaoke sessions are no longer your thing, and you go AWOL whenever your company suggests an Outward Bound team-building trip or communal cooking
      PHOTO-ILLUSTRATION: MOHD KHAIRIE  -  2,099 words
    • CINEMA/GAMING
      • 542 26  -  Clever scripting elevates Crazy Stupid Love and raises the rom-com bar a few notches, reviews DYLAN TAN reviews DYLAN TAN DIRECTORS Glenn Ficarra and John Requa have a way of putting their own spin on the romantic-come-dy genre. They gave it a gay twist
        542 words
      • 370 26  -  By DYLAN TAN CHILDREN get their own version of a Hollywood action-com-edy with this hyperactive big-screen adaptation of The Smurfs. It’s got the works including big stunts, set pieces, car chase scenes, a cartoonish villain (Gargamel, excellently brought to life by comedian Hank Azaria) and a damsel in
        COLUMBIA PICTURES  -  370 words
      • 500 26  -  By DYLAN TAN BRITISH satirist Christopher Morris turns the unlikely subject of suicide bombers into a pitch-black comedy in Four Lions. It’s probably the only way any filmmaker can dabble with such a thorny issue and Morris and his team of four co-writers pull
        500 words
      • 479 26  -  GAMING REVIEW By CHRISTOPHER LIM IT’S hard to find games that are upfront about their strengths from the start and Darkspore is one of those titles which over-promises but under-delivers. For example, publisher Electronic Arts (EA) pitches Darkspore as an action role-playing game (RPG) with
        479 words
      • 432 26  -  DVD REVIEW By CHRISTOPHER LIM SOME movies are so mediocre that they should have skipped cinematic releases and gone straight to DVD. Season Of The Witch is definitely one of them. Even the combined star power of Nicolas Cage and Ron Perlman can’t save this
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    • MUSIC
      • 838 27  -  Singapore artist Tze draws from Lewis Carroll for his jazz fusion debut, writes CHRISTOPHER LIM CD REVIEW CHRISTOPHER LIM Stories from Wonderland Tze n Looking Glass Rating: A Fusion jazz with its flexibility to add ethnic instruments and melodies without losing its globally accessible jazz vibe
        PHOTOS: TZE N LOOKING GLASS  -  838 words
      • 623 27  -  By KELLY TAY YOU don’t naturally associate classical music and opera singing with Singapore but home-grown singer Daniel Fong is determined to change that perception. “It may traditionally be a Western art form, but if Singaporean musicians do it and do it well, it becomes part
        623 words
      • 430 27  -  By DYLAN TAN AFTER executing a split, Hong Kong pop singer Jacky Cheung rubbed his thighs and commented he was getting too old for that. Who could blame him? At 50, he’s clearly no spring chicken though that did nothing to stop him
        PHOTOS: UNUSUAL ENTERTAINMENT  -  430 words
    • ARTS
      • 741 28  -  By MADHVI SUBRAHMANIAN THERE may be many museums and art galleries in Singapore but it’s a common complaint among local artists that there’s a dearth of opportunities to show their works. A small, yearly art event at Alliance Francaise has been making an attempt to provide
        PHOTOS: ISABELLE M DESJEUX, WAHLENE LIN  -  741 words
      • 848 28  -  First-time director Rayann Condy’s masterful staging of the disturbing yet riveting 1973 play Equus proves one of the mane attractions this year for local theatre, reviews NATALIE KOH reviews NATALIE KOH EVERY once in a while in theatre, you find yourself thrown into the mind of
        848 words
      • 598 28  -  By NATALIE KOH AS A ballet, Swan Lake has been reprised and restaged countless times to wide acclaim for its dreamy fairy-tale romance, intricate choreography and downright beautiful aesthetics. And now it has been extended to ice-skating as well, having been revised for
        PHOTOS: JON GREEN  -  598 words
      • 709 28  -  By NATALIE KOH MOTHERS are often expected to be god-like role models one tiny slip-up prompts disapproving looks from, well, basically everyone in society. Imagine an accidental mother with zero maternal instincts then; how would she fare in the eyes of society or in this case,
        709 words
    • PURSUITS
      • 1139 29  -  Les Amoureuses Burgundy is highly prized and highly priced, writes N K YONG writes N K YONG I HAVE been on a Burgundy binge recently and what a pleasure. It all began with our dinner at Joel Robuchon’s restaurant two weeks ago. The final three wines of
        1,139 words
      • 856 29  -  BOOK REVIEW By CHRISTOPHER LIM LAST year’s The Magicians illustrated what happens when authors like Lev Grossman don’t know when to end their tales, and it’s up to the trilogy’s second book, The Magician King, to salvage the depressing emptiness its predecessor concluded with. All tales end
        856 words
      • AROUNDTOWN
        • 249 29 Sotheby’s Hong Kong Autumn Sales 2011 is merely a month away. And to whet your appetite, Sotheby’s will be previewing a few highlights here in Singapore. Out of the 3,400 lots of modern and contemporary Chinese and Asian art, fine Chinese paintings, fine Chinese
          249 words
        • 157 29 With passions in performing arts, drawing and painting on a multitude of mediums over the past decade, it’s little wonder that Emotions, an exhibition by Andy Yang, is a result of all four put together. First composing a few music soundscapes, the Malaysian-born artist
          157 words
        • 175 29  -  Compiled by NATALIE KOH After a successful run in the South East District last year, Serunding, a soliloquy performed by Aidli Mosbit, returns to the stage at four community centres in the North East District. The play, written by Ahmad Musta’ain Bin Khamis, winner of The- atreWorks’ 24-Hour
          175 words
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  • Page 29 Miscellaneous
    • 299 29 CRYPTIC CROSSWORD Across 1 Sailor not taking extreme position? (10) 6 Female rule could make you defect! (4) 8 Unnamed VIP (8) 9 Deserving a big cheese? (6) 10 Nobleman gripped by inclination to find light for car (4,4) 11 Observing absence of sound (6) 12 Melody in which to
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  • Page 30 Advertisements
    • 127 30 tm ff m f K. HH! Ermenegildo Zegna i HraH »K Misura The Hands Are The Perfect Instrument To Make Dreams Come True. Our promise to deliver the perfectly tailored made-to-measure suit begins long before expert Zegna tailors take your measurements. By the time a jacket first touches your shoulders,
      127 words