The Business Times, 25 February 2012

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Microfilm: NL31792
Total Pages: 47
1 20 The Business Times
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  • TOP STORIES
    • MARKETS
      • Article
        Lock icon STOCKS
        59 2 GSTI 2,978.08 (+9.74) GSTI FUTURES 2,978 (+10) GSIMSCI 345.47 (+0.26) GSIMSCI FUTURES 345.30 (+0.40) STOCKS Friday Change KL COMP 1,558.77 +2.11 NIKKEI 225 9,647.38 +51.81 HANG SENG 21,406.86 +25.87 SET 1,146.14 +6.07 JAKARTA 3,894.56 -64.25 MANILA 4,893.00 -0.48 KOSPI 2,019.89 +12.09 SHENZHEN B 663.34 +12.54 MUMBAI IND 17,923.57 -154.93
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      • Article
        Lock icon PRIME RATES
        25 2 VWOAPOfcCfiMU.fty5lA tT55 Hl>!6 «.0N& SM INDONESIA 1A373 Taiwan jOJtl JU0A7J 1*7i KOBE* 053 RnnA'M OS) La C All ad3D0 vAnjrw *uo ImuiA Source:
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      • Article
        Lock icon FOREX
        49 2 FOREX US$ S$ US$ (S$ per US$) 1.257 (US$/S$ per 1.573 1.978 EURO(US$/S$/E) 1.337 1.682 Foreign currency per US$ S$ YEN 80.60 64.10 RM 3.016 2.399 HK$ 7.755 6.167 BAHT 30.43 24.20 RUPIAH 9,070 7,213 RENMINBI 6.298 5.009 INDIAN RUPEE 49.12 39.06 A$ 0.934 0.743 NZ$ 1.195 0.951
        49 words
    • Article
      Lock icon January manufacturing output falls 8.8%
      664 2  -  Contraction caused by factory closures over Chinese New Year, weak global economy By Chuang Peck Ming peckming@sph.com.sg Singapore PLANT closures for Chinese New Year and a still-weak global economy sank manufacturing output last month by 8.8 per cent, against a sharply upwardly revised 25.2 per
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    • Article, Illustration
      Lock icon Judge raises fairness question in sentencing of Airocean directors
      843 3  -  CJ Chan notes that their acts took place long before harsher benchmarks were mooted By Kenneth Lim kenlim@sph.com.sg Singapore QUESTIONS of fairness may arise if the courts use harsher sentencing benchmarks that emerge only years after the crime itself was committed,
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    • Article
      Lock icon Another DBS ATM compromised by skimmers
      623 3  -  Bank says it happened around same time as the skimming of two Bugis ATMs By Emilyn Yap emilyny@sph.com.sg With additional reporting by Conrad Tan Singapore THE card-skimming syndicate which targeted two DBS Bank ATMs in Bugis last November could have struck another machine then,
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    • Article, Illustration
      Lock icon World Bank to put together coalition to rescue world’s oceans
      556 4  -  Int’l body will also help muster US$1 .5b in five years to protect marine areas OCEANS AT RISK By Lynn Kan lynnkan@sph.com.sg Singapore THE World Bank will put together a new global coalition and help muster US$1.5 billion in five
      AFP  -  556 words
    • Article
      Lock icon Using – not abusing – the precious Arctic
      421 4  - Using not abusing the precious Arctic Exploit resources only after standards are set, summit told By Amanda Eber aeber@sph.com.sg Singapore “THE Arctic is hot.” That’s how Gustaf Lind, Swedish Ambassador for the Arctic, opened his introductory speech during the “The Arctic: Beacon of Hope?” session of The Economist World Oceans
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    • Article
      Lock icon Turf City sub-tenants caught in the middle
      915 6  -  High court sets aside injunction, leaving them liable for overstaying damages By Felda Chay feldac@sph.com.sg Singapore THE ONGOING tussle between the outgoing and incoming landlords of Turf City Mall is set to deliver another blow to its beleaguered sub-tenants. An injunction order obtained
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    • Article
      Lock icon Tourism industry to stay buoyant this year
      416 6  -  In times of an economic slowdown, outbound leisure travel increases: Natas By Nisha Ramchandani nishar@sph.com.sg Singapore SINGAPORE’S tourism sector is expected to keep flying high this year, shrugging off high fuel prices and uncertainties in the global economy, say local industry players. Despite
      416 words
    • Article
      Lock icon EU should delay start of emissions scheme, says ex-IATA chief
      384 7  -  Hostilities damaging to aviation, industry should work on solution By Ven Sreenivasan ven@sph.com.sg Singapore EUROPE should postpone its Emissions Trading Scheme (ETS) by one year to 2013, while other countries should commit to implementing a global ETS by 2014 under
      384 words
    • Article, Illustration
      Lock icon Doing business for betterment of society
      1005 8  -  Nobel laureate Muhammad Yunus’ social business model attempts to reconcile selflessness with demands of corporate world By Anna Lee and Joshua Tan annalee@sph.com.sg joshtan@sph.com.sg Singapore IMAGINE a world where an economic system premised on profit maximisation co-exists with a fluid model focused on selflessness
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  • Page 2 Advertisements
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      63 2 CONTENTS NEWS Top Stories 2-8 Week in Review 9 Raffles Conversation 10-11 Companies 12-15 From The Desk Of 16 Singapore 17-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-32 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Dining L2-5 Style L6-7 Travel L8-9 Home Garden L10-11
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      233 5 THE BUSINESS TIMES CORPORATE GOLF LEAGUE BIGGER AND BETTER THE BUSINESS TIMES CORPORATE GOLF LEAGUE IS BACK AND PROMISES TO DELIVER MORE THAN EVER BEFORE. Golf has proven to be the perfect match for business. And The Business Times Corporate Golf League offers the ideal platform for companies in Singapore
      233 words
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
      595 7 HIGH IMPACT LEADERSHIP FOR THE 21 ST CENTURY Who should attend: Sales Professionals, Managers, Team Leads, Heads of Division, Heads of Department, Directors and Executives Register at jobs.st701 .com/seminars Inspirational Leadership Thurs, 8 Mar 2012, SPH Auditorium (9am to 6pm) Inspiring Leadership What you will learn: Howto set your business
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK | Feb 20-24, 2012
      • Article
        Lock icon Budget measures carry inflation, risks
        34 9 THE Budget measures to spur increased productivity and sustainable long-term growth for Singapore carry short-term inflation and other risks for businesses and the economy, say analysts and business leaders.
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      • Article
        Lock icon Singapore SMEs urged to ‘come to Iskandar’
        32 9 ISKANDAR Malaysia, the massive economic development region in Johor, is wooing more companies from Singapore to set up operations there as business costs bite here.
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      • Article
        Lock icon CAD on trail of Edgeworth Properties?
        39 9 JUST a year-and-a-half after the Commercial Affairs Department started probing Profitable Plots for allegedly not paying investors, BT understands that it is on the trail of another land-banking firm Canada-based Edgeworth Properties Inc.
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      • Article
        Lock icon Asian markets rally as China cuts reserve ratio
        42 9 STOCK markets across Asia rallied on Monday after China’s central bank surprised investors by cutting the reserves that Chinese banks need to hold, freeing more cash for them to lend to businesses and households.
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      • Article
        Lock icon Budget highlights challenges facing policymakers
        44 9 SINGAPORE’S “Budget for the future” throws into sharp relief the challenges facing policymakers as they aim to raise the economy’s productivity and reduce its reliance on foreign labour, including heightened risks of inflation in the near term, economists say.
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      • Article
        Lock icon Oil prices jump as Iran halts UK, France trade
        48 9 CRUDE oil prices jumped in Asian trade on Mondays as Iran made a pre-emptive strike in halting its already limited oil exports to Britain and France ahead of a European Union embargo against it, set to start in July.
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      • Article
        Lock icon OCBC Q4 net profit up 18% at $594m
        45 9 OCBC Bank’s fourth-quarter net profit rose 18 per cent from the previous year to $594 million on the back of robust loan growth. This took the group’s full-year net profit 3 per cent up to $2.3 billion.
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      • Article
        Lock icon Greece bailout deal gets underwhelming response
        38 9 THE euro and European stock markets slipped in an underwhelming market response to the latest Greece bailout package. Market reaction was muted because investors believe that the accord has merely bought time.
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      • Article
        Lock icon Asia-Pac still top region for M&As last year
        32 9 MID-SIZED merger and acquisition activity in Asia Pacific slipped last year, but the region still reigned by posting the largest number of deals worldwide.
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      • Article
        Lock icon Factory of the world slowing down
        39 9 SEVERE labour shortage, together with high material costs and rents, is forcing small and medium-sized enterprises to relocate or shut down in China’s Guangdong province, once dubbed the “the factory of the world”.
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      • Article
        Lock icon Three US VCs to bring Silicon Valley magic to Singapore
        41 9 THREE prominent US venture capitalists are about to inject life into the start-up scene here with a network of mentors and investors from Silicon Valley through a US$10 million incubator fund.
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      • Article, Illustration
        Lock icon NOL suffers bloodbath, unveils US$500m cost cuts
        60 9 NEPTUNE Orient Lines’ “disappointing” set of full-year and final quarter losses has led its new chief to declare a US$500 million cost-cutting programme at the shipping and logistics group. CUTTING COSTS NOL’s “disappointing” set of full-year and final quarter losses has led its
        BLOOMBERG  -  60 words
      • Article
        Lock icon S’pore core inflation at 3-year high of 3.5%
        42 9 EVEN before Budget 2012’s measures have had a chance to work their way into higher consumer prices, evidence of pass-through from earlier cost increases, including labour cost hikes, has surfaced in January’s inflation data.
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      • Article
        Lock icon DBS hit by card skimmers again
        40 9 CARD skimmers have again raided DBS Bank accounts this time, right in Singapore. The bank said on Thursday in a press statement on card replacement that unauthorised withdrawals totalling $23,000 were made last Sunday.
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    • Article
      Lock icon NEXT WEEK | Feb 27-March 2
      94 9 NEXT WEEK Feb 27-March 2 US DATA Feb 27 Pending home sales index (Jan) Feb 28 Durable goods orders (Jan) Consumer confidence (Jan) Feb 29 GDP 4Q Mar 1 Jobless claims ISM manufacturing index (Feb) Personal income and outlays (Jan) Construction spending (Jan) EVENTS Feb 27 Berlin Germany’s Parliament expected
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  • Page 9 Miscellaneous
    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 1
      350 9 Across 7 Electronic instrument lacking mains lead in it (7) 8 Present-day Romeo in pickle with new temptation rearing its head (7) 10 Russian city where one may get fleeced (9) 11 Extravagant and atrocious act losing a grand (5) 12 Most of queue lines to the right of crush
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    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 2
      13 9 SATURDAY with Ludwig ‘Don’t worry, your stocks are more scary than this ride...’
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Creator of luxury
      2379 10/11  -  luxuryDebbie Yong talks to Cartier’s CEO Bernard Fornas, about what makes the brand what it is Debbie Yong debyong@sph.com.sg HE MAY be constantly surrounded by fine watches, intricate baubles, royalty, and celebrities, but what really gets Bernard Fornas all excited is the noise and dust of construction
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  • COMPANIES
    • Article
      Lock icon UOL full-year net profit falls 1 2% to $664m
      521 12  -  Group cautious about 2012 prospects with slowdown, cooling measures; it won’t be absorbing extra stamp duty By Mindy Tan tanmindy@sph.com.sg Singapore UOL Group has posted a 12 per cent drop in group net profit to $664.2 million for the full year
      521 words
    • Article, Illustration
      Lock icon AIA S’pore value of new business grows 58% y-o-y
      505 12  -  By Bryan Koh bryankoh@sph.com.sg Singapore INSURER AIA Singapore yesterday posted a 58 per cent year-on-year growth in value of new business to US$164 million for the year ended Nov 30, 2011. AIA Singapore’s strong performance stemmed primarily from the increase in
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    • Article
      Lock icon Venture Corp Q4 profit down 30%
      259 12  -  By Victoria Ho vhoip@sph.com.sg Singapore MAINBOARD-LISTED Venture Corp ended its fourth quarter of 2011 with a net profit of $38 million a drop of 29.8 per cent from the corresponding period the year before. It recommended a final dividend of 55 cents a share.
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    • Article
      Lock icon BreadTalk Q4 profit falls 27% to $3.94m
      376 13  -  By Jasmine Ng jasng@sph.com.sg Singapore CONFECTIONERY and food group BreadTalk’s fourth-quar-ter net profit fell 26.9 per cent year-on-year to $3.94 million, from $5.39 million a year ago. This translated into Q4 earnings per share (EPS) of 1.40 cents, down from 1.91 cents a
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    • Article
      Lock icon Banyan Tree eyes more funds
      445 13  -  Hospitality group posts $1 .4m gain for Q4, will continue to rebalance portfolio, divest assets By Nisha Ramchandani nishar@sph.com.sg Singapore HOSPITALITY group Banyan Tree Holdings is looking at extending its fund model previously launched to invest in countries such as China in other markets such
      445 words
    • Article, Illustration
      Lock icon Sheng Siong’s Q4 profit dives 48%
      553 13  -  By Joyce Hooi joyceh@sph.com.sg Singapore SHENG Siong Group’s fourthquarter net profit almost halved as it fell 48.2 per cent to $3.8 million from $7.2 million a year earlier. Revenue for the three months ended Dec 31, 2011, fell 6.1 per cent to $138.9 million.
      FILE PHOTO  -  553 words
    • Article
      Lock icon Lyxor lists ETFs tied to Thai, Indonesian indices in Singapore
      374 14  -  Both funds are backed by physical assets with an unfunded swap and traded in US dollars By Jamie Lee leejamie@sph.com.sg Singapore LYXOR, a unit of Société Générale Group, yesterday listed in Singapore two new exchangetraded funds (ETFs) linked to the
      374 words
    • Article
      Lock icon Gold retains its shine as investors seek safety
      480 14  -  Price could hit US$5,000 an ounce in 5-8 years, says Schroders manager By Lesley Teoh Singapore THE long-term outlook for gold is expected to remain rosy because of its continued use as a hedge against various economic risks. The yellow metal has
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    • Article
      Lock icon New Asian hedge funds raise US$44b
      363 14 Bloomberg Hong Kong ASIAN hedge funds started by both new and existing managers raised US$4.43 billion last year, the highest amount since the industry peaked in 2007, says a survey by trade journal AsiaHedge. The average size of the 58 new Asian hedge funds
      Bloomberg  -  363 words
    • Article, Illustration
      Lock icon Weak earnings, Greek bailout in the spotlight
      936 15  -  STOCKS R Sivanithy sivan@sph.com.sg Senior correspondent EARNINGSdisap-pointments and a classic “buy in anticipation, sell on news” play were the two main features of the past week. Prominent market favourites such as Wilmar International, Genting Singapore and Neptune Orient Lines (NOL) were among those
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    • Business briefing
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  • Page 13 Advertisements
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      Lock icon Page 13 Advertisements Column 1
      237 13 IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF ALPAWEDGE SINGAPORE PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) (Company Registration No. *****3032R) NOTICE IS HEREBY GIVEN that it was resolved at an Extraordinary General Meeting of members of the abovenamed company held on 21 February 2012,
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  • Page 14 Advertisements
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      Lock icon Page 14 Advertisements Column 1
      37 14 GRAB YOUR MARCH ISSUE NOW! INTHIS ISSUE!? FOR GYM NEWBIES WORKOUT SECRETS TO GET YOU FROM SCRAWNY TO BRAWNY! ENJOY$1OFF! PURCHASE THIS ISSUE AT ONLY $5[U.P. $6] AT COLD STORAGE, JASONS OR MARKET PLACE. WHILE STOCKS LAST!
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Don’t just be great, be legendary
      1094 16  -  How does customer service add value, and does it still make business sense? FROM THE DESK OF Luke Diep Head of Service Quality Public Relations RHB Bank Singapore IN A world where product life cycles mature faster and product offerings face intensive competition, companies
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  • SINGAPORE
    • Article
      Lock icon Eaton Vance opens Asian office in S’pore
      495 17  -  New outfit is the US group’s only overseas unit after London By Siow Li Sen lisen@sph.com.sg EATON Vance Corp, one of the oldest investment management firms in the US, has opened in Singapore to expand into Asia. Its Singapore subsidiary, Eaton Vance Management
      495 words
    • Article
      Lock icon S’pore honours ex-Iata chief, Dell president
      298 17  -  By Eve Yeo eveypyeo@sph.com.sg TWO senior business executives were conferred national honours by President Tony Tan Keng Yam for their economic contributions to Singapore. Giovanni Bisignani, former director-general and CEO of the International Air Transport Association (Iata), received the Public Service Star (Distinguished Friends
      298 words
    • Briefing
      • Article
        Lock icon Rajah & Tann opens law firm in Bangkok
        96 17 Rajah Tann opens law firm in Bangkok RAJAH Tann LLP officially launched a full-service firm in Bangkok yesterday, its third office in the Indochina region where it can practice local law. The firm, headed by managing director Teoh Sui Lin and staffed by seven Thai lawyers, provides a full range
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      • Article
        Lock icon Park Hotel appoints new CEO
        86 17 PARK Hotel Group has announced the appointment of Allen Law as its chief executive officer, with effect from Feb 3 this year. Mr Law, a Gold Winner of the Hospitality Asia Platinum Awards (HAPA), Hospitality Entrepreneur of the Year 2011 and employee of the group
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    • Article, Illustration
      Lock icon HSBC quartet trains for BT charity ride
      322 17  -  By Amanda Eber aeber@sph.com.sg THIS morning, before most people have even woken up, four young men from HSBC will already be out on the road training for The Business Times Corporate Charity Ride to be held next Sunday. Jason Zhou, Mihir Sridhar, Ryan
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    • Article
      Lock icon Hire online, cut costs; Freelancer is coming
      456 18  -  The Web giant has more than three million users globally and 16,000 in Singapore By Edwin Loh edwinloh@sph.com.sg COMPANIES in Singapore can look to hire on a budget talent from around the world when freelancing Web giant Freelancer.com launches its regional hub here
      456 words
    • Article
      Lock icon Jetstar taps India by tying up with Jet Airways
      416 18  -  By Ven Sreenivasan ven@sph.com.sg HAVING already stitched up markets in South-east Asia, Australasia, North-east Asia and Japan, Jetstar has now moved westwards to tie up a significant interline deal with India’s Jet Airways that will offer guests new travel options between
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    • Article
      Lock icon Attachments for UniSIM UTM students
      264 18  -  By Amanda Eber aeber@sph.com.sg SIM University’s (UniSIM) School of Business will soon offer its transport management students industry attachments to experience being “the other party”. Students of the Master of Science in Urban Transport Management (UTM) who are from the government can thus see issues
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  • Page 18 Advertisements
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      Lock icon Page 18 Advertisements Column 1
      67 18 Lotte Confectionery has a vacancy for a Sales Marketing Manager The National Art Gallery, Singapore has a position open for a Financial Controller Chevron is recruiting an Area HR Manager Singapore Pratt Whitney is hiring an Engineering Manager Accounting Corporate Regulatory Authority is looking for a Head of Corporate Communications
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  • WORLD
    • Article, Illustration
      Lock icon Wynn ousts Okada from Macau board
      649 19 Casino mogul’s action ends long partnership and could trigger a protracted legal battle Reuters Macau CASINO mogul Steve Wynn ousted his former friend and partner Kazuo Okada from the board of his Wynn Macau unit yesterday, in the latest twist to a gripping legal
      Reuters; REUTERS  -  649 words
    • Article
      Lock icon Japan warned of further rating downgrade
      462 19  -  Delay in consumption tax legislation would be a creditnegative event: Moody’s By Anthony Rowley btworld@sph.com.sg Tokyo JAPAN could face a further downgrading of its already battered sovereign credit rating if government plans to increase the national consumption tax do not go through on schedule.
      462 words
    • Article
      Lock icon Japanese watchdog orders AIJ Investment to halt ops
      359 19 Bloomberg Tokyo JAPAN’S financial regulator ordered AIJ Investment Advisors Co to stop operations for a month because the Tokyo asset manager’s 183.2 billion yen (S$2.9 billion) of client pension funds may be at risk, sparking a nationwide probe of 263 firms in
      Bloomberg  -  359 words
    • Article, Illustration
      Lock icon Beijing barriers force rich Chinese to keep jets in HK
      596 20 City struggles to provide more parking areas as number of private jets rises 3-fold Reuters Hong Kong PRIVATE jet operators in Hong Kong are adding aircraft at a rapid pace as more wealthy mainland Chinese keep luxury aircraft in the
      Reuters; BLOOMBERG  -  596 words
    • Briefing
      • Article
        Lock icon AIG posts net profit of US$19.8b for Q4
        96 20 Bloomberg New York American International Group, the bailed-out insurer, cited a return to “sustainable operating profit” as it booked a tax benefit that fuelled record fourth-quarter earnings. AIG’s biggest unit, property-casualty insurer Chartis, and its plane-leas-ing business swung to operating profits in
        Bloomberg  -  96 words
      • Article
        Lock icon Lloyds’ 2011 loss balloons to £2.8b on provisions
        114 20 ago”.AP London Part-nationalised Lloyds Banking Group yesterday posted a massive loss for 2011 after it set aside £3.2 billion (S$6.3 billion) to compensate customers who bought payment protection insurance. Lloyds, in which taxpayers hold a 41 per cent stake, said its net
        ago”.AP  -  114 words
      • Article
        Lock icon Citigroup sells stake in India’s HDFC for 95.5b rupees
        115 20 Bloomberg London Citigroup exited an almost seven-year-old investment in India’s largest mortgage lender, selling its stake in Housing Development Finance Corp (HDFC) for as much as 95.5 billion rupees (S$2.4 billion). The US bank sold 145.3 million shares at 657.56 rupees
        Bloomberg  -  115 words
      • Article
        Lock icon VW more than doubles 2011 net profit to 15.8b euros
        99 20 AFP Frankfurt Volkswagen, Europe’s biggest car maker, said yesterday that it more than doubled net profit last year as worldwide sales topped the 8 million mark for the first time. VW, whose brands include Volkswagen, Audi, SEAT and Skoda, said
        AFP  -  99 words
      • Article
        Lock icon Tripling of India’s water desalination business seen by 2017
        102 20 Bloomberg New Delhi India’s water desalination business is set to triple to US$1.2 billion by 2017 as rising demand from industry spurs the country to build more purification plants, according to a research report. The number of units that process sea
        Bloomberg  -  102 words
    • Article
      Lock icon German economy shrinks in Q4 as exports decline
      338 20 Reuters Berlin GERMANY’S economy contracted by 0.2 per cent in the fourth quarter on sagging exports and private consumption, data showed yesterday, but analysts said they expected Europe’s growth engine to pick up steam again this year. Investments, particularly in construction, were
      Reuters  -  338 words
    • Article, Illustration
      Lock icon Bank of America cuts sales link with Fannie Mae
      666 21 The bank will stop selling mortgages to the latter in the wake of protracted legal spat NYT New York BANK of America said on Thursday that it would no longer sell new mortgages to Fannie Mae, underscoring tensions in a fight
      NYT; BLOOMBERG  -  666 words
    • Article
      Lock icon Moet Hennessy to make red wine in China
      622 21 Reuters Shangri-La, China FRENCH wine and spirits maker Moet Hennessy wants to produce a super-premium red wine at the foot of the Himalayan mountains in southern China, targeting the palates of the country’s wealthy wine drinkers, whose results won’t be known for
      Reuters  -  622 words
    • Article, Illustration
      Lock icon Razaleigh criticises Mahathir for creating moneyed class of Malays
      707 22  -  NEP was ‘never meant to incubate a class of Malay capitalists’ By S Jayasankaran btworld@sph.com.sg Kuala Lumpur A DEBATE of sorts broke out yesterday between former premier Mahathir Mohamad and ex-fi-nance minister Tengku Razaleigh Hamzah. First, Tengku Razaleigh slammed Dr Mahathir’s
      THE STAR  -  707 words
    • Article
      Lock icon Austerity in Europe puts pressure on drug companies
      466 22 NYT Paris PROFITS at pharmaceutical companies have been declining or showing little growth for the past year as austerity measures across Europe lead to cuts in healthcare spending. Some analysts say that this trend could continue until at least 2014. Budget cuts
      NYT  -  466 words
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  • Article
    Lock icon SGX
    8126 23 Transaction date: Feb 24 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 18 11.5 8Telecom 11.7 11.7 12.8 7.8 5.2 2.5 56 9.5 4 A-Sonic 5.5 5.2 5.8 2.4 2 39.4 AAT 2 halt
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  • Article
    Lock icon SGX CATALIST
    1728 26 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 $mil 34 12.1 t 800 Super 17.3 16.8 17.9 4.7 3.2 6.7 30.9 4.5 2.5 t AA Grp 4 3 4 19 3.9 170 56 t
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  • Article
    Lock icon SECURITIES TRADING SCOREBOARD
    186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 10 2 5 0 0 0 10 2 5 Manufacturing 57 46 48 7 11 1 64 57 49 Commerce 31 16 10 4 3 3 35 19 13 Tpt/Stor/Comms 13 15 9
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  • Article
    Lock icon BT SHARE INFORMATION SERVICE
    820 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Feb 20 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Serial System Ltd 23-Feb-12 Goh Bak Heng Buy 5043 0.13 *****2 66.80 *****5 34.35 Advance SCT Ltd
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  • Article
    Lock icon SECURITIES TRADING TURNOVER
    123 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 15,384 15,384 60,904 60,904 Manufacturing 241,692 75,548 317,240 268,117 2,379 270,496 Commerce 145,479 3,886 149,365 193,779 343 194,121 Tpt/Stor/Comms 164,483 30,681 195,164 232,554 5,495 238,049 Finance 17,591 150 17,741 125,860 20 125,881 Construction 145,734 11,215
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  • MARKETS
    • Article
      Lock icon LIFFE
      80 27 Feb 23 COCOA (£/tonne) Close Prev High/Low Mar 12 1510 1571 1578/1494 May 12 1519 1578 1588/1493 Jul 12 1533 1591 1600/1510 Sep 12 1542 1597 1605/1516 COFFEE(US$/tonne) Close Prev High/Low Mar 12 2018 1948 2036/1953 May 12 2018 1950 2033/1949 Jul 12 2001 1960 2016/1960 Sep 12 2012
      80 words
    • Article
      Lock icon METALS
      71 27 Feb 24 GOLD(US$/oz) Feb 24 Feb 23 Hong Kong 1783.00 1782.00 Feb 23 Feb 23 Feb 22 London 1783.96 1756.21 1784.73 1756.98 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 44.53 43.87 Source: UOB PLATINUM/ Lon (US$/oz) Feb 23 Close Previous PM Fix 1729.00 1698.00 AM Fix 1728.00
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    • Article
      Lock icon PALM OIL
      46 27 Feb 24 HITE PAUM FimjflES (RM/A*T) iV< HI <tw or* i; PUy om O ,r J5T I:-h 4/» i» r*»( i *A/W li MU •ur •rflri »M| inrvii Y/*f UM If ito: •37^ i j*f\i <nt"' <j|h in 0) 5 MM Source: Bursa Malaysia
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    • Article
      Lock icon GOVERNMENT SECURITIES
      79 27 Feb 24 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****S 24-May-12 0.34 1-Year BY*****W 01-Nov-12 0.34 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.250 01-Feb-14 99.95 99.98 99.98 5-Year N*****0W 1.125 01-Apr-16 102.63 GOVERNMENT BONDS
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 27 Feb 24 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3460 1.3474 1.0705 1.0715 Canadian dollar 1.2595 1.2598 1.0017 1.0018 Euro 1.6815 1.6820 1.3373 1.3376 NZ dollar 1.0517 1.0524 0.8364 0.8369 Sterling pound 1.9776 1.9782 1.5728 1.5731
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    • Article, Illustration
      Lock icon SMX MARKET UPDATE
      107 27 As on 23 February 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT APR2012 1788.00 1773.70 1786.60 209 CURRENCY AUD-USD FUT MAR2012 1.0679 1.0608 1.0648 28 EUR-USD FUT MAR2012 1.3343 1.3251 1.3335 4942 BASE METAL COPPER FUT MAR2012 8461 8330 8394 4034
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    • Article
      Lock icon CHICAGO BOT
      103 27 Feb 23 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Mar 12 1276.75 1272.25 1280.00 1266.50 May 12 1283.50 1278.75 1286.25 1272.25 Jul 12 1291.25 1286.50 1294.00 1280.50 Aug 12 1285.50 1280.50 1288.00 1275.00 SOYBEAN/OIL(60,000 lbs; USc/lb) Close Previous High/Low Mar 12 54.20 54.22 54.35 53.91
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    • Article
      Lock icon OIL
      75 27 Feb 23 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 123.48 0.47 WTI (Near Mth) 107.77 2.10 Dubai (1-Mth F) 120.23 1.85 Tapis blend 132.14 3.16 Minas 131.94 3.16 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 117.67 0.11 Jet Kerosene 136.60 1.25 US$/barrel Opec Oil Basket Price
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      118 27 Feb 24 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.375 1.31 Can dollar 1.279 1.23 Euro 1.706 1.641 Sterling pound 2.009 1.932 NZ dollar 1.079 1.028 US dollar 1.271 1.223 Local dollars to 100 units of foreign currency: Currencies Sell
      118 words
    • Article
      Lock icon LONDON METALS
      69 27 Feb 23 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2231.75 2237.75 3 months 2274.00 2281.00 Copper, Grade A (US$/tonne) Cash 8394.75 8432.75 3 months 8390.00 8435.00 Lead (US$/tonne) Cash 2138.00 2120.75 3 months 2165.00 2117.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      373 27 In local curr In S$ In US$ dy yr dy yr dy yr Feb 23 Index Change Change Change Change Change Change World Preliminary 902.5 0.1 8.8 0.1 5.9 0.3 9.3 EAFE Preliminary 745.5 0.0 9.3 0.1 6.9 0.4 10.4 Europe Preliminary 1107.6 -0.1 7.9
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    • Article, Illustration
      Lock icon STOCK MARKETS
      89 27 YTD change:+12.54% 52-week high: 3,227.28 on Aug 1,2011 52-week low: 2,521.95 on Oct 5,2011 Source: Bloomberg YTD change:+16.13% 52-week high: 24,468.60 on Apr 8,2011 52-week low: 16,170.30 on Oct 4,2011 Source: Bloomberg YTD change: +6.28% 52-week high: 13,005.00 on Feb 21,2012 52-week low: 10,404.40 on Oct 4,2011 (Chart
      Source: Bloomberg  -  89 words
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon When banks are too big to jail
      1046 28 / 29  -  The recent so-called ‘robo-signing’ settlement is seen as a complete sell-out to the financial industry. By Simon Johnson ~The writer, a former chief economist of the IMF, is co-founder of a leading economics blog, http://BaselineScenario.com, a professor at MIT Sloan, a senior fellow
      Project Syndicate; BLOOMBERG  -  1,046 words
    • Article
      Lock icon Economic opportunities amid climate change
      805 28 / 29  -  By Manish Bapna, Vinod Thomas ~Dr Manish Bapna is interim president at World Resources Institute. Dr Vinod Thomas is director-general for independent evaluation at the Asian Development Bank THE world continues to be gripped by a two-fold crisis: A severe economic downturn and widespread job
      805 words
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Jumpy Mideast capital seeks safer havens after Arab Spring
        1080 30 / 31  -  Singapore becoming a prime beneficiary of the huge transfer of wealth Genevieve Cua gen@sph.com.sg Personal Finance Editor UPHEAVAL in the Middle East popularly dubbed the “Arab Spring” is causing more wealthy Arab families to consider moving money out of the region
        YEN MENG JIIN  -  1,080 words
      • Article
        Lock icon BROKERS' TAKE
        763 30 / 31  -  Compiled by Joyce Hooi Sembcorp Marine Buy DMG Partners Research Feb 24 Close: $5.26 SEMBCORP Marine (SMM)’s Q4 2011 net profit of $229 million was 20-25 per cent ahead of ours ($191 million) and street estimates ($183 million) as Q4 2011’s operating margin of 22 per cent outperformed
        763 words
      • Article, Illustration
        Lock icon Now you see it, now you don’t
        1207 32  -  It was easy to spot fraud at Puda Coal if only underwriters and auditors bothered to look. By Floyd Norris NYT New York WITHOUT a rule of law, investing is an extraordinarily hazardous undertaking. The latest charges of fraud in a Chinese company
        NYT; BLOOMBERG  -  1,207 words
      • Article, Illustration
        Lock icon Size matters: blue chips recover faster
        1155 33  -  They have a greater tendency to bounce back when recovery comes while small caps fall by the wayside SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior correspondent THE Straits Times Index has risen by 12 per cent so far this year. At a
        FILE PHOTO  -  1,155 words
    • WEALTH REAL ESTATE
      • Article
        Lock icon Hammerson to sell offices and keep shops
        404 34 UK developer says sale will raise £500m for its retail arm Reuters London BRITISH developer Hammerson will sell its office portfolio over the next three years to focus on retail property, as the outlook for office letting worsens. Britain’s third largest real estate
        Reuters  -  404 words
      • Article
        Lock icon Househunt
        748 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN JAN 25 AND JAN 31, 2012 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 4 NON-LANDED Reflections At Keppel Bay Apt 26/01/2012 99 947 1807 1908 District 5 NON-LANDED Dover Parkview
        748 words
      • Article, Illustration
        Lock icon Sears plans to sell stores in gamble for cash
        1020 35 Transactions could raise nearly US$800m; deals also highlight the major challenges that the troubled retailer faces NYT New York SEARS Holdings moved on Thursday to allay fears that it could run low on cash this year, announcing plans to sell stores
        NYT; REUTERS  -  1,020 words
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  • Page 36 Advertisements
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      Lock icon Page 36 Advertisements Column 1
      103 36 ■wr TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE UNIQUE ASYMMETRIC STYLING OF THE AUDEMARS PIQUET MILLENARY COLLECTION HAS TRANSFORMED THE WAY DESIGN ENGINEERS DEVELOP CALIBRES, THIS TRI-DIMENSIONAL MOVEMENT COMBINES PERFORMANCE AND CHRONOMETRY WITH HAUTE HOROLOGY MICRO-DETAILING. IN THE TRANSVERSAL BALANCE-BRIDGE, OPTIMUM SHOCKRESISTANCE IS COMBINED WITH THE ELEGANCE
      103 words
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  • Article
    Lock icon Living BT
    2 1
    2 words
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      Lock icon Page 1 Advertisements Column 1
      58 1 LivingBTTHE BUSINESS TIMES WEEKEND FEBRUARY 25-26 2012 DINING Past perfect L4-5 GARDEN SETTINGS What's cooking in Singapore's parklands L2-4 PERSONAL SPACE Exercise in simplicity L10-11 FOOD FOR THOUGHT THE BOTANIC GARDENS. PHOTO BY YEN MENG JIIN HEALTH Adults behaving badly L14 TRAVEL Western Australian adventures L8-9 GOLF HSBC Women's Champions
      58 words
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  • DINING
    • Article, Illustration
      Lock icon Garden settings
      2942 2 / 3  -  ’s good food to be had away from the city’s hotels and shopping malls. BT Weekend ventures further afield to find out what’s cooking in Singapore’s parklands. By Debbie Yong By Debbie Yong debyong@sph.com.sg Park life The Cornerstone Bishan Park II, 1380 Ang Mo Kio Ave 1 Z6554-7230
      CORNERSTONE PHOTOS BY ARTHUR LEE, BEETS AND FOOD FOR THOUGHT PHOTOS BY YEN MENG JIIN  -  2,942 words
    • Article, Illustration
      Lock icon Past perfect
      1391 4 / 5 Vintage automobiles, furniture and bric-a-brac take pride of place in these two retro-themed diners debyong@sph.com.sg rachloi@sph.com.sg Meals and wheels Kombi Rocks 66 Yio Chu Kang Road Z6288-1206 or 9008-6918 (vintage car rental) Open 12-2.30pm and 6-9.30pm daily, closed on Wed www.kombirocks.com WHILE most people revamp their long-standing businesses
      YEN MENG JIIN; PHOTOS: ARTHUR LEE  -  1,391 words
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  • STYLE
    • Article, Illustration
      Lock icon Custom feat
      2119 6 / 7  -  Savvy designers are banking on niches in the fashion market for custommade shoes, handbags and even home accessories, and seeing their businesses grow. By Melissa Lwee-Ramsay mellwee@sph.com.sg Designs on high-end bespoke Kyle Keefe http://www.kyle-keefe.com LIKE most expatriates, Kyle Keefe made full use of her move to Singapore to
      PHOTOS: KYLE KEEF, KORLA, PEACHY  -  2,119 words
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  • TRAVEL
    • Article, Illustration
      Lock icon BEST WESTERN
      1330 8 / 9  -  Western Australia has a lot more to offer than just beaches. By Geoffrey Eu By Geoffrey Eu btnews@sph.com.sg I T’S 6.30 on a sunny February morning in Marine Parade, the main drag that runs alongside Perth’s Cottesloe Beach part of a pretty neighbourhood blessed with a precious strip
      PHOTOS BY GEOFFREY EU  -  1,330 words
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  • HOME & GARDEN
    • Article, Illustration
      Lock icon EXERCISE IN SIMPLICITY
      1001 10 / 11  -  Home for indie filmmaker Li-Anne Huang is a sparsely but tastefully furnished walk-up apartment in Tiong Bahru. personal space By Geoffrey Eu btnews@sph.com.sg LI-ANNE Huang spent almost 20 years living in America, so when she moved back here a couple of years ago she felt a definite
      PHOTOS BY JOHN HENG  -  1,001 words
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  • FASHION
    • Article
      Lock icon Glorious graphics
      637 12 NYT New York MIUCCIA Prada went back to her basics: geometric print, graphic, straight line cutting, and embellishment but the result was like seeing reruns of early ideas digitally enhanced to a Blade Runner-style futurism. The glorious graphics included not only the pipes of square neon lamps making
      NYT  -  637 words
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      27 12 WATS CLASSIFIED Moving? Let the experts sort it out foryou. To find out more, turn to CLASS 115 239 in CATS Classified in The Straits Times now.
      27 words
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      Lock icon Page 12 Advertisements Column 2
      879 12 wine&dinewith BTWeekend Triple Three Mandarin Orchard Singapore 333 Orchard Road Z6831 6288 Named after the address of the hotel 333 Orchard Road, Triple Three showcases a sumptuous international buffet spread with over 128 culinary delights and 10 live cooking stations. In addition to the freshest sashimi and sushi, tempura, and
      879 words
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  • KEPPEL CLIPPER ROUND THE WORLD
    • Article, Illustration
      Lock icon Making it count
      995 13  -  The tough Race 8 from Singapore to Qingdao has been mainly about optimising resources to the fullest. By Vincent Wee btnews@sph.com.sg RACE 8 of the Clipper 2011-12 Round the World Yacht Race from Singapore to Qingdao has been all about careful managing of resources and making what
      PHOTOS: onEDITION  -  995 words
  • Page 13 Advertisements
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      Lock icon Page 13 Advertisements Column 1
      63 13 A winning strategy Keppel Land is committed to create desirable communities of enduring value wherever we operate. We share in the excitement as Singapore arrives in China where Keppel’s integrated residential-cum-marina lifestyle development in Zhongshan is raising benchmarks in waterfront living. www.keppellandchina.com Follow the little red boat at www.facebook.com/sgclipper Together
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  • HEALTH
    • Article, Illustration
      Lock icon Adults behaving badly
      926 14  -  Attention deficit disorder can damage careers and relationships, but the good news is that it is quite easily treatable. By Cheah Ui-Hoon By Cheah Ui-Hoon uihoon@sph.com.sg ATTENTION deficit hyperactive disorder (ADHD) is something that is most commonly associated with children, but it affects adults too, with far
      FILE PHOTO  -  926 words
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  • GADGETS
    • Article, Illustration
      Lock icon Tech teasers
      590 15  -  The much-awaited Mobile World Congress in Barcelona kicks off on Monday but already some mobile brands are firing their first salvos. By Christopher Lim limchris@sph.com.sg LG Optimus 3D Max Price not available THE annual Mobile World Congress in Barcelona which promises to be packed with phone launches kicks
      590 words
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  • SPORT
    • Article, Illustration
      Lock icon The ride stuff
      975 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Correspondent WHEN David McQuillen first moved from Switzerland where he was last based to Singapore two years ago, he thought his days as an active cyclist were over. Little did the 40-year-old American who is head of OCBC’s Group Customer Experience
      OCBC  -  975 words
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  • GOLF
    • Article, Illustration
      Lock icon Driving passion
      1160 17  -  UK golfers Karen Stupples and Melissa Reid talk about their respective games and also the state of women’s golf in Britain. HSBC Women’s Champions 2012 By Justine Moss btnews@sph.com.sg GOLF pro Karen Stupples is no lightweight when it comes to her game, but losing some weight and a
      PHOTOS: GETTY IMAGES  -  1,160 words
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  • MOTORING
    • Article, Illustration
      Lock icon IT’S MAGIC PARKING IN THE G-SPOT
      1262 18/19  -  A fabric hood may give a roadster or convertible that classic look but there’s no denying the coupé-like practicality that a rigid retractable roof offers. Samuel Ee drives two luxury models with a folding hardtop Samuel Ee samuelee@sph.com.sg MERCEDES-BENZ unveiled its innovative streak when
      1,262 words
    • Article, Illustration
      Lock icon At the fourfront of style
      626 20  -  It doesn’t matter whether you think the Veloster is odd or stunning this is a very different Hyundai. By Samuel Ee samuelee@sph.com.sg FIRST, there was the four-door coupé. Now, there is the four-door hatchback. As a compact hatchback with three passenger doors, it is no
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