The Business Times, 2 March 2012

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Microfilm: NL31820
Total Pages: 32
1 32 The Business Times
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  • Title Section
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    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 120/08/2011 Friday, March 2, 2012
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  • Article
    Lock icon Stiffer dose of levies may be on its way
    1074 1  -  Tharman favours some flexibility to help SMEs, but says they must adapt to reality By TEH SHI NING [SINGAPORE] Foreign worker levies will probably rise further in coming years, Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said in Parliament yesterday
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  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      109 1 HST INDEX 2,978.84 (-15.22) HST INDEX FUTURES 2,973 (-15) HSIMSCI 345.95 (-1.63) HSIMSCI FUTURES 346.20 (-1.50) us$ s$ US$ (S$ per US$) 1.251 (US$/S$ per 1.592 1.991 EURO (US$/S$/E) 1.332 1.665 Foreign currency per US$ S$ YEN 81.10 64.80 RM 3.004 2.402 HK$ 7.756 6.202 BAHT 30.56 24.44 RUPIAH
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    • Article
      Lock icon PRIME RATES
      21 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.546 TAIWAN 5.036 JAPAN 1.475 Source: Bloomberg Source: Bloomberg Source: Bloomberg
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  • Article
    Lock icon Maybank, HSBC sticking with their current set-up
    642 1  -  MAS welcomes incorporation of Stanchart consumer banking business By JAMIE LEE qualifying With additional reporting by Conrad Tan and Emilyn Yap [SINGAPORE] Standard Chartered Bank’s proposal this week to have its consumer banking operations incorporated in Singapore has thrown open the question of
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  • TOP STORIES
    • Article
      Lock icon THREE-MINUTE DIGEST
      340 2 Stiffer dose of levies may be on its way FOREIGN worker levies will likely rise further in coming years, Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said in Parliament yesterday as he wrapped up the three day long Budget debate. FRONT PAGE Genting S’pore issue sets new
      340 words
    • Article
      Lock icon Genting S’pore’s debt issue sets a new marker
      604 2  -  It sells $1.8b worth of perpetual securities as demand hits $6b By SIOW LI SEN [SINGAPORE] Genting Singapore yesterday sold $1.8 billion perpetual securities, the largest debt ever issued here as demand reached a sizzling $6 billion. With the strong demand, the
      604 words
    • Article
      Lock icon China’s big factories rebound as smaller firms lag
      543 2 Feb official PMI rises to 51.0, higher than 50.5 in Jan Reuters [BEIJING] China’s factories grew more than expected in February as new export orders for big firms bounced back, a government survey showed, while a private-sector report portrayed a different picture
      Reuters  -  543 words
    • Article, Illustration
      Lock icon Rebuilt terminal’s capacity to soar to 16m passengers
      563 4  -  Concessionaires and carriers to move to Terminal 2 from Sept 25 By VEN SREENIVASAN [SINGAPORE] Six years after opening it, Changi is shutting down its Budget Terminal (BT) to build a brand new Terminal 4 on the site to cater to 16
      FILE PHOTO  -  563 words
    • Article
      Lock icon Sellers of Sentosa Cove unit revealed
      334 4  -  Deepak Sharma, Susan Lim owned bungalow sold for record $39m By CHEN HUIFEN [SINGAPORE] The Sentosa Cove bungalow that was recently sold for a record $39 million had belonged to Citi Private Bank chairman Deepak Sharma and his surgeon wife Susan Lim. Yesterday, BT
      334 words
    • Article, Illustration
      Lock icon Changi gets new terminal, runway crunch remains
      953 4  - Changi gets new terminal runway crunch remains COMMENTARY VEN SREENIVASAN Senior Correspondent WHEN the $1.75 billion Terminal 3 (T3) was nearing completion some years ago, the folks running Changi Airport had hinted that there were already plans for a Terminal 4 (T4). This would be built when utilisation at Changi’s
      953 words
    • Article, Illustration
      Lock icon A challenge to fund growing social spending
      746 6  -  Singapore will need new revenue sources for this after 2016: Tharman BUDGET DEBATE By ANNA TEO [SINGAPORE] Beyond the next five years, Singapore will need new sources of revenue, including tax revenues, to fund growing social expenditures, Deputy Prime Minister Tharman Shanmugaratnam said
      746 words
    • Article
      Lock icon Foreign spouses to be allowed longer stays
      597 6  -  Teo Chee Hean says more S’poreans are marrying foreigners Reports by LEE U-WEN [SINGAPORE] The number of Singaporeans marrying foreigners is on the rise, and the government is making it easier for such couples especially those with Singaporean children to remain together and
      597 words
    • Article
      Lock icon Public Service pay review ready in 6-9 months
      594 6 [SINGAPORE] Two months after it was revealed that ministerial salaries would be sliced significantly, the salaries of the Administrative Service, Judiciary and statutory appointment holders will now be going under the microscope as well. This review by the Public Service Division (PSD)
      594 words
    • Article
      Lock icon Bus firms won’t profit from $1.1b govt fund: Tharman
      498 6  -  By EMILYN YAP [SINGAPORE] The $1.1 billion package in the Budget to boost bus capacity will not go towards the profits of public transport operators (PTOs), said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam in Parliament yesterday. Without the government
      498 words
    • Article
      Lock icon Public sector employees make up 7.5% of CPIB prosecutions
      356 6 [SINGAPORE] Public sector employees account for an average of 7.5 per cent of the total number prosecuted over the last three years by the Corrupt Practices Investigation Bureau (CPIB). The figure has remained “stable” over this period, and Singapore continues to
      356 words
    • Article
      Lock icon New laws to deal with climate change
      320 6 [SINGAPORE] Singapore has a vision to be a climateresilient global city that is well-positioned for green growth, said Deputy Prime Minister Teo Chee Hean yesterday. The government, in facilitating this transition to a “greener” Singapore, is set to roll out new policies and
      320 words
    • Article
      Lock icon More moves to help firms as economy undergoes revamp
      606 6  -  Higher seed grant for start-ups, help for SMEs to improve their cash flow By MALMINDERJIT SINGH [SINGAPORE] The government is introducing more measures to help Singapore businesses survive a restructuring of the economy, said Minister of State for Trade and Industry
      606 words
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  • COMPANY NEWS
    • Article
      Lock icon Turnaround an uphill task for NOL
      860 7  -  HOCK LOCK SIEW By LYNN KAN HE has barely warmed his seat at the highest echelons of Neptune Orient Lines (NOL), but it is already plenty sizzling for Ng Yat Chung, a former military man who took over the reins of the Temasek oldings-owned
      860 words
    • Article, Illustration
      Lock icon Dairy Farm full-year profit rises 18% to US$484m
      646 7  -  By NISHA RAMCHANDANI RETAILER Dairy Farm International Holdings, a member of the Jardine Matheson Group, posted a net profit of US$484 million for the financial year ended Dec 31, 2011, up 18 per cent from US$411 million in FY 2010, according to
      BLOOMBERG  -  646 words
    • Article
      Lock icon Yangzijiang Q4 profit up 24% at 1 b yuan
      638 7  -  For the full year, profit jumps 35% to record 3.98b yuan By LYNETTE KHOO YANGZIJIANG Shipbuilding ended 2011 on a high note, posting an all-time high in net profits for the fourth quarter and full year ended Dec 31. Buoyed by
      638 words
    • Article
      Lock icon Lankom enters into reverse takeover pact with Sinocom
      447 7  -  By LYNETTE KHOO LANKOM Electronics has turned out to be the choice vehicle for China-based pharmaceutical firm Sinocom Pharmaceutical for its backdoor listing in Singapore, after similar talks Sinocom held with Communication Design International got nowhere. Mainboard listed Lankom said yesterday that
      447 words
    • Article, Illustration
      Lock icon AXA sets sights on growing in Asia
      667 9  -  Its Asia business excluding Japan contributed 7% of total group earnings By BRYAN KOH FRENCH global insurance group AXA has its sights set firmly on growing business in Asia given the robust growth within the region, said Denis Duverne, AXA’s deputy CEO. The
      667 words
    • Article
      Lock icon Midas JV bags 526.9m yuan Suzhou metro deal
      296 9  -  The firm will supply 23 train sets for the project By KELLY TAY MAINBOARD-LISTED Midas Holdings’ joint venture company Nanjing SR Puzhen Rail Transport Co (NPRT) has clinched a China metro contract worth 526.9 million yuan (S$ 104.5 million) in Suzhou. In
      296 words
    • Article
      Lock icon HK bourse reports 1 % rise in net income to HK$5.1b
      428 9 HK bourse reports 1 rise in net income to HK$5.1b Bloomberg [HONG KONG] Hong Kong Exchanges Clearing Ltd, the world’s largest listed bourse operator by market value, reported net income that beat analysts’ estimates as turnover increased. Net income rose one per cent to HK$5.1 billion (S$822.7 million), or HK$4.72
      Bloomberg  -  428 words
    • Article
      Lock icon Raffles Edu unit to divest four land parcels
      304 9  -  By CARINE LEE RAFFLES Education Corporation Limited yesterday announced that its subsidiary, Hebei Oriental Zhuyun Property Development Co Ltd, will be divesting four land parcels in the Langfang Development Zone of China’s Hebei province for 1.05 billion yuan (S$208 million). Hebei Oriental
      304 words
    • COMPANY BRIEFS
      • Article
        Lock icon Third year of loss for two companies
        94 9 UNITED Fiber System gave notice yesterday that it has recorded pre-tax losses for the three most recently completed consecutive financial years while its market capitalisation as at Feb 29 was some $210.6 million. Separately, Texchem-Pack Holdings also gave notice it has recorded pre-tax
        94 words
      • Article
        Lock icon Ezra Holdings cuts stake in Ezion
        37 9 EZRA Holdings has sold 60 million shares in Ezion Holdings as part of its capital allocation strategy, paring its stake in Ezion to about 5.6 per cent from 14.02 per cent.
        37 words
      • Article
        Lock icon Temasek’s stake in DBS rises to 29.71%
        63 9 MAJU Holdings, a wholly owned subsidiary of Temasek, has converted 180,915 convertible preference shares of DBS Group Holdings and some 69.84 million redeemable convertible preference shares of DBS into ordinary shares. This boosts Temasek’s stake in DBS from 27.93 per cent as at
        63 words
      • Article
        Lock icon SingTel hires banks for US$ bond sale
        63 9 Bloomberg SINGAPORE Telecommunications hired Bank of America Corp, Citigroup, Deutsche Bank and Morgan Stanley to help it with a benchmark-sized sale of US dollar bonds, according to a source. The 5.5-year, Reg S, fixed-rate senior notes are being marketed at a spread of
        Bloomberg  -  63 words
    • Article
      Lock icon UOB bonds offer lowest coupon for Asian banks ex-Japan
      165 9 Bloomberg UNITED Overseas Bank priced its US dollar bond at the lowest coupon for five-year notes from any lender in Asia, excluding Japan, according to data compiled by Bloomberg. The note due March 2017 pays a coupon of 2.25 per cent,
      Bloomberg  -  165 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon STI loses grip after recapturing 3,000
      590 8  -  Index hits intraday high of 3,010 but ends at 2,978.84 as Wall Street fall weighs on sentiment STOCKS R SIVANITHY Senior Correspondent CONVENTIONAL market wisdom yesterday was that Wall Street’s Wednesday fall weighed on local sentiment yesterday and therefore dragged the Straits Times Index
      Source: Bloomberg  -  590 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 11 2 0 0 0 4 11 2 Manufacturing 37 91 37 4 7 11 41 98 48 Commerce 12 38 8 1 6 3 13 44 11 Tpt/Stor/Comms 8 26 8
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 18,712 18,712 62,962 62,962 Manufacturing 320,278 49,507 369,785 231,391 1,553 232,944 Commerce 199,928 5,205 205,133 134,330 416 134,746 Tpt/Stor/Comms 162,088 32,669 194,757 243,399 5,573 248,972 Finance 17,707 17,707 132,564 132,564 Construction 108,976 40,175 149,151 21,983
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    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      114 8 Stock name Close Change CapMallsAsia 1.510 -0.030 CapitaLand 3.040 -0.040 CapitaMall 1.825 +0.025 CityDev 11.000 -0.130 ComfortDelGro 1.525 -0.005 DBS Grp 14.180 -0.020 F&N 6.600 -0.090 GLP 2.200 +0.020 Genting SP 1.605 -0.010 Golden Agri 0.720 -0.010 HK Land 5.520 -0.010 JMH 50.520 -0.480 JSH 30.280
      114 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      65 8 Mar 1 VALUE CLOSE BT OB/OS -286.00 +96.00 BT CADI -*****.00-200.00 BT 10-day MA -*****.00 -28.00 FTSE ST Mid Cap 688.82 -3.91 FTSE ST Small Cap 457.16 -5.84 FTSE ST All Share 720.64 -4.09 FTSE ST China Top 227.47 -3.60 FTSE ST China 253.66 -2.80 FTSE ST
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    • Article
      Lock icon MOST ACTIVE STOCKS
      56 8 VOLUME Golden Agri 99,906,000 EzionHldg 92,057,000 Genting SP 74,450,000 Oceanus 66,451,000 MDR 63,838,000 Centillion 51,772,000 MDR W*****5 45,657,000 Noble Grp 37,683,000 SingTel 31,444,000 UniFiber 28,985,000 VALUE($) Genting SP 120,092,430 SingTel 98,966,496 EzionHldg 81,084,685 Wilmar 74,780,520 Golden Agri 72,300,125 Noble Grp 53,215,575 GLD 10US$ 44,487,458 UOB 42,322,170 OCBC
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    • Article, Illustration
      Lock icon BROKERS’ TAKE
      927 8  -  Compiled by LYNETTE KHOO Perennial China Retail Trust March 1 close: $0.53 DBS Group Research, March 1 MAIDEN DPU of 2.35 cents: Perennial China Retail Trust (PCRT) reported a maiden distribution income of $26.4 million since listing on June 9, 2011, inclusive of earn out deed amount of
      Source: Bloomberg  -  927 words
    • Article, Illustration
      Lock icon Euro remains weak against US dollar
      536 8 CURRENCIES Reuters [LONDON] The euro remained weak against the US dollar yesterday on profit-taking after a huge injection of cash by the European Central Bank, with further losses likely due to concerns about debt and a fragile eurozone economy. The US dollar also gained
      Reuters; BLOOMBERG  -  536 words
    • Article
      Lock icon RISES
      119 8 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 288.8 2.1 IS DJ US Tech 7407 81.3 0.9 DBXT S&P Short 10US$ 3815 31.3 0.7 Lyxor MS India 10US$ 1430 30.0 1.7 Hyflux 6% CPS 10 ***** 22.0 0.2 DBS.ES.1203 1428 21.0 1.5 Lyxor China H 10US$ 1504 17.5 0.9
      119 words
    • Article
      Lock icon FALLS
      121 8 BY CENTS CLOSE DOWN GLD 10US$ ***** -716.3 -3.3 UOB 5.05%NCPS 100 ***** -216.0 -2.0 DBXT MSAsExJp 10US$ 3177 -133.8 -3.3 IS S&P500 ***** -126.3 -0.7 DBXT MSJAP 10US$ 3776 -75.0 -1.6 DBXT FTChina25 10US$ 2961 -61.3 -1.6 JMH 5052 -60.0 -0.9 DBXT AUD Bonds 5AU$ ***** -53.7 -0.2
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 8 DAILY
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      Lock icon Page 9 Advertisements Column 1
      115 9 Till Junk foods and red meats may contain high levels of trans and saturated fats which build up in your liver. Over time, it may weaken your liver functions. Health news from I LIVE WELL. How to run a business without running out of ideas SME March/April issue out now!
      115 words
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  • SINGAPORE NEWS
    • Article
      Lock icon Upper Serangoon EC site attracts 7 bids
      484 10  -  Top bid is $303 psf ppr; consultants note interest in ECs remains high By MINDY TAN INTEREST in executive condominiums (ECs) remains high, based on the latest tender results for a 99-year EC site at Upper Serangoon View/Upper Serangoon Road, say consultants. The
      484 words
    • Article, Illustration
      Lock icon Start-ups make their pitches at DEMO Asia
      501 10  -  By EVE YEO DEMO Asia 2012 kicked off yesterday with 37 start-ups making pitches and speeches to venture capitalists, angel investors, DEMO alumni and fellow entrepreneurs. A total of 44 start-ups and 28 innovators in the cloud and enterprise, Web, social and media,
      LIANHE ZAOBAO  -  501 words
    • Article
      Lock icon Lanxess to build second synthetic rubber plant
      512 10  -  By RONNIE LIM STRONG demand, especially in Asia, for “green”, environmentally friendly tyres has clearly outweighed eurozone jitters, with Germany’s Lanxess saying yesterday that it will go ahead to build a second synthetic rubber plant costing 200 million euros (S$333 million) here. With
      512 words
    • Article, Illustration
      Lock icon Han Kwee Juan named Citibank S’pore CEO
      211 10 CITI yesterday announced the appointment of its new chief executive officer and country business manager of Citibank Singapore Limited, Han Kwee Juan. He takes over from Anil Wadhwani, who was recently appointed head of cards and personal loans for Citi Asia Pacific. In
      211 words
    • Article
      Lock icon Sing Power to study impact of EV charging
      482 10  -  By SAMUEL EE SINGAPORE Power will be studying the impact of electric vehicle charging on the electricity grid over the next two years. The energy utility group yesterday launched EVs@SP, its electric vehicle (EV) technology development initiative to ensure the reliability of
      482 words
    • Article
      Lock icon Firms can tap $9.5m fund for North China ventures
      463 10  -  By BRYAN KOH SINGAPORE-BASED companies seeking to make inroads into North China's burgeoning market can draw on $9.5 million worth of assistance. The pledged grant will be provided by International Enterprise (IE) Singapore over a five-year period and administered through Sino-Singapore
      463 words
    • Article
      Lock icon Revamped Zaobao to make a splash
      280 10  -  By JOSHUA TAN MORE exciting articles on the latest talking points, a refreshed look and better interactive platforms. These are just some of the changes Lianhe Zaobao readers can look forward to in two weeks’ time. The newspaper’s revamp will not be a “simple
      280 words
    • Article
      Lock icon Chew Gek Khim is top Singaporean in Forbes women list
      372 10  -  By LIM WEI SHENG FIVE Singaporeans have scored a spot on Forbes’ inaugural Asia’s Power Business Women’s List, with Straits Trading’s Chew Gek Khim coming in at number nine. The list features 50 women entrepreneurs, high-fly-ing corporate executives or family
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  • ECONOMY WATCH
    • Article
      Lock icon Job offers in City of London down 47% in past year
      372 11 Uncertainty in financial markets gives employers the jitters about hiring in large numbers Bloomberg [LONDON] Job vacancies at London’s financial-services firms plunged in the year to February as uncertainty surrounding the euro area’s sovereign debt-crisis curbed company confidence, a
      Bloomberg  -  372 words
    • Article, Illustration
      Lock icon Eurozone confidence in outlook better than expected
      563 11 Bloomberg [ZURICH] Euro-area confidence in the economic outlook improved more than economists forecast in February, adding to signs of stabilisation after the economy contracted in the fourth quarter. An index of executive and consumer sentiment in the 17-nation euro area rose for a
      Bloomberg; REUTERS  -  563 words
    • Article
      Lock icon Growth in German manufacturing almost zero in Feb
      291 11 Reuters [BERLIN] Growth in Germany’s manufacturing sector slowed to a near stand-still in February, a key survey showed yesterday, tempering hopes of a strong pick-up in Europe’s largest economy. Markit’s manufacturing Purchasing Managers Index (PMI) fell to 50.2 from January’s 51.0, barely
      Reuters  -  291 words
    • Article
      Lock icon Japan firms’ capital spending up
      257 11 First rise in 3 quarters due to quake reconstruction demand; govt may raise Q4 GDP data Bloomberg [TOKYO] Japanese companies’ capital spending jumped by the most in nearly five years in the fourth quarter, adding to signs that the world’s third-biggest economy is set to
      Bloomberg  -  257 words
    • Article
      Lock icon Dutch MPs stress cost of triple-A rating loss
      441 11 Country faces uphill battle in meeting EU requirements Reuters [AMSTERDAM] The Netherlands is at risk of losing its prestigious triple-A credit rating because, unlike its peers, its budget deficit is above the European limit, members of parliament said on Wednesday. They were
      Reuters  -  441 words
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  • MALAYSIA/INDONESIA
    • Article, Illustration
      Lock icon Sime Darby shares jump as H1 profit soars
      487 12  -  Earnings for first half of its 2012 financial year jump 42% to RM2.2b By S JAYASANKARAN in Kuala Lumpur SHARES of Sime Darby leapt 2.5 per cent yesterday to RM9.93 apiece after it reported a solid RM2.2 billion (S$915 million) net profit
      BLOOMBERG  -  487 words
    • Article
      Lock icon Indonesia’s inflation eases in Feb
      230 12 AFP [JAKARTA] Inflation in Indonesia slowed in February, data showed yesterday, contrary to analysts’ forecasts that consumer prices would rise ahead of a fuel-price increase planned for April. The consumer price index rose 3.56 per cent year-on-year last month, slowing from an on-year increase of
      AFP  -  230 words
    • Article
      Lock icon Proton posts Q3 loss of RM88m; outlook gloomy
      486 12  -  By PAULINE NG in Kuala Lumpur FACED with weaker vehicle sales and significant losses at its UK subsidiary, Lotus International, Proton Holdings is looking at a bleak period ahead unless its new owner, DRB-Hicom, can improve the utilisation rate at its under-used
      486 words
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      966 12 Rare Carpet Warehouse Sale! Heritage Collection Authentic, Original Hand-Knotted Carpets in Fine Wool Pure Silk Exclusive range of Carpets from Kashmir, Bhadohi, Varanasi, Mirzapur, Jaipur, Agra other parts of India. We specialize in customized orders with no size restrictions. KakiBukitRd2 Saturday, Sunday Monday (3 5 March 2012) Time: 10am to
      966 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon India factory growth eases in Feb but pace still healthy
      477 13 PMI slightly down from Jan’s 8-month high; strong growth in new orders, factory output Reuters [BANGALORE] India’s manufacturing sector expansion slowed slightly in February from a month ago, although the pace of growth remained healthy as new orders touched a
      Reuters; AP  -  477 words
    • Article
      Lock icon US$2.5b ONGC share sale flops
      622 13 Bids received for only two-thirds of offer, says report Reuters Bloomberg [MUMBAI] Uncertainty surrounded the outcome of a US$2.5 billion government auction of shares in India’s Oil and Natural Gas Corp, with TV channels saying it had generated bids for just two-thirds of the shares
      Reuters; Bloomberg  -  622 words
    • Article, Illustration
      Lock icon China imports may avert trade war
      421 13 Reuters [BEIJING] China will import more big ticket items and luxury goods this year to avoid a costly trade war, but will not curb its own exports, according to a former Chinese trade official. Tensions between China and its trade partners over issues from
      Reuters; AFP  -  421 words
    • Article
      Lock icon Delhi to tap state firms’ cash holdings in divestment push
      378 13 Reuters [NEW DELHI] India has allowed cash-rich state companies to buy back shares and participate in the government’s divestment programme, a minister said yesterday, as New Delhi looks to narrow its widening fiscal deficit. Two dozen of India’s largest public
      Reuters  -  378 words
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      1440 13 WATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF KWAN YONG DEVELOPMENT PTE LTD (In Members’ Voluntary Liquidation) (Company Registration No. *****1764W) NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the Company duly convened and held on 24 February 2012, the following
      1,440 words
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  • WORLD
    • Article, Illustration
      Lock icon BEAUTY IN THE AISLE OF THE BEHOLDER
      73 14 [SAO PAULO] A woman taking a look outside her house next to the Portuguese word for ‘beauty’ in the Brasilandia favela (shanty town) ofSao Paulo. Six alleys in the favela are painted by Spanish artist group Boa Mistura as part of their ‘Light
      REUTERS  -  73 words
    • Article, Illustration
      Lock icon Woolworths profit falls first time in over 11 yrs
      539 14 Bloomberg [SYDNEY] Woolworths Ltd, Australia’s largest retailer, had its first drop in profit since at least 2000 on a charge against its Dick Smith consumer electronics unit and as falling prices sapped revenue growth. Net income fell 17 per cent to
      Bloomberg; REUTERS  -  539 words
    • Article
      Lock icon ASX launches daily home value index
      437 14 The product is a major step towards creating new financial contracts Reuters [SYDNEY] Australian homeowners and investors may soon be able to bet on moves in house prices after the country’s stock exchange launched yesterday the world’s first daily home value index. The index,
      Reuters  -  437 words
    • Article
      Lock icon Property insurance in Christchurch dries up
      381 14 Bloomberg [LONDON] New Zealanders living and working in Christchurch are finding it almost impossible to buy property insurance, one year after an earthquake devastated the city, according to Jardine Lloyd Thompson Group plc. “In New Zealand, you just can’t buy earthquake cover any more,”
      Bloomberg  -  381 words
    • Article
      Lock icon Foreign fishing crews being abused in NZ waters: govt panel
      264 14 AFP [WELLINGTON] An official New Zealand inquiry reported “disturbing” evidence yesterday of foreign fishing crews being abused in its waters and called for urgent action. The inquiry said mistreatment of trawler crews, predominantly from Indonesia, had the potential to damage
      AFP  -  264 words
    • Article
      Lock icon UK economy may not need further stimulus: BOE
      651 14 Inflation is more persistent than expected: official Bloomberg [LONDON] Bank of England policymaker Martin Weale said that UK inflation may prove more persistent than expected, making it unlikely the economy will require further stimulus once the current round of bond purchases ends.
      Bloomberg  -  651 words
    • Article
      Lock icon Pharma industry tightens code to stamp out graft
      400 15 Reuters [LONDON] The global pharmaceutical industry is tightening its code of practice in a bid to stamp out bribery and corruption, particularly in emerging markets. The International Federation of Pharmaceutical Manufacturers and Associations said yesterday it had expanded and strengthened the code
      Reuters  -  400 words
    • Article
      Lock icon Greece bailout clears hurdle as Parliament OKs healthcare cuts
      478 15 Move follows 3.2b euros in budget cuts, steep reduction in minimum wage Reuters [ATHENS] The Greek parliament approved an extension of pharmacy opening hours and cuts to drugs spending yesterday as part of a package of healthcare reforms agreed in return
      Reuters  -  478 words
    • Article, Illustration
      Lock icon UK galleries pay £45m for Titian’s work
      260 15 Bloomberg [LONDON] The National Gallery in London said it purchased Titian’s Diana and Callisto jointly with the National Galleries of Scotland for £45 million (S$89.7 million), ensuring the painting stays on public display. The painting’s owner, the Duke of Sutherland, knocked the price
      Bloomberg; BLOOMBERG  -  260 words
    • Article
      Lock icon Fukushima workers still worry about safety
      671 15 Support group says the utility may face labour shortage AFP [IWAKI, Japan] To some of the men who earn as little as US$100 a day to work inside Japan’s Fukushima Daiichi, the plant at the centre of a year-old nuclear disaster is far from
      AFP  -  671 words
    • Article
      Lock icon EU lawmakers wary about banning sovereign ratings
      519 15 Reuters [LONDON] Banning credit ratings on European Union sovereign debt would be a step too far and fail to row back the financial sector’s heavy reliance on ratings, EU lawmakers said on Wednesday. “Once we have dealt with this problem of over-reliance on
      Reuters  -  519 words
    • Article
      Lock icon German finance minister takes press drubbing
      480 16 Schaeuble rapped for playing Sudoku during parliament debate on Greece Reuters [BERLIN] German Finance Minister Wolfgang Schaeuble was criticised on Wednesday for playing Sudoku on a computer during a crucial parliamentary debate on Greece, becoming a lightning rod for the growing opposition in Germany
      Reuters  -  480 words
    • Article, Illustration
      Lock icon Mediterranean wines eye joint push into Asia
      717 16 AFP [MONTPELLIER, France] What do the Grenache grapes ripening above the smooth river stones of France’s Chateauneuf-du-Pape have in common with the Xinomavro clinging to the slopes of Greece’s Mount Olympus? That was the question facing winegrowers and merchants who gathered in the
      AFP  -  717 words
    • Article
      Lock icon US property buyers step up European bargain hunt
      320 16 Reuters [LONDON] US and Canadian property investors will do more deals in Europe this year than their Far Eastern and Middle Eastern counterparts, capitalising on North America’s relative economic strength, property consultancy CBRE said. North American investors accounted for 30 per cent
      Reuters  -  320 words
    • Article
      Lock icon No payout of Greek debt insurance: ISDA
      594 17 ECB bailout hasn’t triggered US$3.25b of outstanding credit default swaps, it says Bloomberg [LONDON] Default insurance on Greek debt won’t be paid out, the International Swaps Derivatives Association said yesterday after it was asked to rule on whether part of the nation’s US$170
      Bloomberg  -  594 words
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      Lock icon CLOTHES MAKETH THE ‘MAD MEN’
      49 17 Models wearing ‘Mad Men’-inspired apparel at the Banana Republic ‘Mad Men’ Collection Launch event in Los Angeles, on Wednesday. The new collection, which takes inspiration from country club scenes in the ‘Mad Men’ television series, was scheduled to have its in-store debut yesterday. AP
      AP  -  49 words
    • Article
      Lock icon Manufacturing, jobless data show eurozone lagging
      522 17 Bloomberg [PARIS] Euro-area unemployment rose to the highest in more than 14 years and manufacturing shrank for a seventh month, stoking concern that the regional economy may struggle even as global growth improves. A manufacturing gauge based on a survey of purchasing managers in
      Bloomberg  -  522 words
    • Article, Illustration
      Lock icon Disquiet in ECB over cash injection impact
      669 17 Fear of imbalances and inflationary pressures aired Reuters [FRANKFURT] Some European Central Bank policymakers are alarmed that a dramatic loosening of lending policy stemming from a one trillion euro wave of cash unleashed into the financial system will fuel imbalances in the eurozone
      – Reuters; AP  -  669 words
    • Article
      Lock icon Consumer spending up 0.2% in January
      461 17 LATEST US DATA Bloomberg Reuters [WASHINGTON] Consumer spending in the US rose less than forecast in January after little change the previous month, showing a lack of improvement in the biggest part of the economy. Purchases climbed 0.2 per cent, while incomes increased 0.3
      Bloomberg; Reuters  -  461 words
    • Article
      Lock icon Ousted Woodford launches Olympus lawsuit
      302 17 Reuters [LONDON] Michael Woodford, the ousted Olympus chief executive who blew the whistle on one of Japan’s most high-profile frauds, vowed he would hold his former employer to account as he kicked off his legal battle for wrongful dismissal in London yesterday. “I found wrongdoing,
      Reuters  -  302 words
    • Article, Illustration
      Lock icon HK High Court rejects Cantor’s claim
      739 18 Company had sued former employees after they quit to join Chinese firm Bloomberg [HONG KONG] On May 26 last year, amid the gold lighting and US$60 entrees at a restaurant in Hong Kong’s Central entertainment district, Jason Boyer confided to a friend that he
      Bloomberg; BLOOMBERG  -  739 words
    • Article, Illustration
      Lock icon GM to take 7% strategic stake in Peugeot Citroen
      689 18 AFP [PARIS] Struggling French carmaker PSA Peugeot Citroen and US giant General Motors have formed a strategic alliance that will see GM take a 7 per cent stake in its new partner. The two companies announced on Wednesday “the creation of
      AFP; AFP FILE PHOTO  -  689 words
    • Article, Illustration
      Lock icon JPMorgan exec breaks banking code of silence
      413 18 REUTERS BREAKINGVIEWS [NEW YORK] Jes Staley is not going to be popular in Wall Street’s trading brotherhood. The head of JPMorgan’s investment bank has broken a code of silence by revealing how much the firm rakes in as a marketmaker. Shareholders will consider
      413 words
    • Article
      Lock icon Billionaire sells Seadrill shares to buy ships
      338 18 Bloomberg [LONDON] Billionaire John Fredriksen will use the proceeds from selling shares of oil-rig operator Seadrill Ltd to buy new ships worth as much as US$3 billion, Arctic Securities said. Mr Fredriksen plans to sell as many as 24 million shares in Seadrill
      Bloomberg  -  338 words
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  • Page 15 Advertisements
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      37 15 World Precision Machinery CEO: Time will tell which are the tell which are the T S izm /r li] JtfiiE BJ To subscribe, call 6388-3838 or go to sphsubscription.com.sg To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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      44 15 50 &HI7aSS S£g5J a*7 am# Km $4,qoo FEAR OR 0W3 MX n OF SPRING YOUR GUIDE TO WHITENING AmmB IT NOW BUY THE MARCH ISSUE AND GET THIS PHYTODENSIUM SHAMPOO MASK TRAVEL KIT WORTH $49.90 FREE*. •EXCLUSIVELY AT KINOKUNIYA •WHILE STOCKS LAST w sPHmagazines
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      214 16 3F(mflt0© i 7 n MSI JERRY LUM Snr Marketing Director, MBA, CBS cea licence no: R *****6 D HP: 8288 0098 View: jerrylum.myweb.sg > W w CM? •w FROM 24 FEBRUARY TO 4 MARCH 2012 AVAILABLE FOR DINNER BUFFET ONLY BOUNTIFUL FLAVOURS OF KOCHI KAGAWA Triple Three presents the best
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      44 16 BT Wine, Dine Hospitality Page save more than o' +< CQ I fuU-c° X For advertisement bookings and sales enquiries, please contact: Lawrence Chang 9229 4919 Jeffrey Nah 9623 2128 Lina Tan 9620 1355 Alisa Tan *****381 FrancisYeo 9620 1356 Colin Ong 9231 1280 sph
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      60 18 Asia’s leading Luxury Spa Wellness Publication luxury travel wellness 0 THE EDUCATION IQQII|= RELAXING IN TOKYO ESCAPE TO VIETNAM MAGICAL ISTANBUL ASIA'S BEST YOGA SCHOOLS NEW AGE FITNESS PROGRAMMES INSIDE FIVELEMENTS RETREAT Ask your local bookshop or make sure of your copy by subscribing today Go to www.asiaspa.com or 4
      60 words
  • Page 18 Miscellaneous
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  • AVIATION/SHIPPING
    • Article, Illustration
      Lock icon Ti me to review maritime law: US lawmaker
      545 19 Century-old law limits passenger compensation from sea accidents AFP [WASHINGTON] A US lawmaker on Wednesday urged a review of US maritime law which could lead to bigger compensation payouts for passengers seeking damages from ship operators after deadly disasters at sea. The
      AFP; REUTERS  -  545 words
    • Article
      Lock icon Hong Kong Air reviewing Airbus A380 order
      493 19 Move partly because of China’s opposition to Europe’s emissions levy Bloomberg [HONG KONG] Hong Kong Airlines Ltd is reviewing its order for 10 Airbus SAS A380s, partly because of Chinese opposition to Europe’s introduction of an emissions levy on aviation. “It is possible
      Bloomberg  -  493 words
    • Article, Illustration
      Lock icon Adopt new pilot fatigue rules, UPS, FedEx told
      570 19 Bloomberg [WASHINGTON] US Transportation Secretary Ray LaHood said he’ll meet officials of United Parcel Service and FedEx Corp to urge the two cargo airlines to adopt pilot fatigue rules imposed on passenger carriers. Following up on a promise he made in December,
      Bloomberg; AFP  -  570 words
    • Article
      Lock icon Shipping loan losses seen hitting US$13b
      175 19 Bloomberg [LONDON] Banks will lose US$13 billion over the next two years on 3 per cent of all shipping loans as a collapse in earnings drains vessel owners’ cash flows amid depressed asset values, Nomura Equity Research said. Thir-ty-one per cent of loans held
      Bloomberg  -  175 words
    • Article
      Lock icon Baltic index hits 25-year low amid vessel glut
      494 19 Bloomberg [LONDON] The Baltic Dry Index, a measure of costs to ship dry-bulk commodities, fell to the lowest monthly average in more than 25 years as a glut of vessels weighed on freight rates. The index averaged 701 in February, the lowest
      Bloomberg  -  494 words
    • Article
      Lock icon TRANSPORT STOCKS
      257 19 SGX '000 Mar 1 S$ +/-Vol CH Offshore 0.37 0.01 385 Chuan Hup Hldg 0.23 -0.01 87 Cosco Corp 1.17 -0.04 ***** Mar 1 Ezra Hldgs 1.19 -0.06 ***** First Ship Lea 0.20 unch 1253 Freight Links 0.06 unch 1184 Grand Banks unch unch 0 Jaya Hold Ltd
      257 words
  • Page 19 Advertisements
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      119 19 ASIA-WEST AFRICA TRADE AGREEMENT (AWATA) Notice for General Rate Increase (GRI) In order to ensure that the Member Lines are able to continue to provide the service necessary to meet the needs of their customers, the Member Lines of the Asia West Africa Trade Agreement (AWATA) have decided to implement
      119 words
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  • EDITORIAL & OPINION
    • Article
      Lock icon Competitive devaluation by another name
      500 20 EDITORIAL THERE was a time when the kind of monetary easing tactics being adopted now by the US, Europe and Japan joined last week by China would have been termed “competitive devaluation”. But since the world’s four biggest economic powers are not anxious to publicise
      500 words
    • Article, Illustration
      Lock icon America has to renew itself to compete in global market
      765 20  -  THE BOTTOM LINE ROBERT SAMUELSON The Washington Post STARTING with Sputnik in 1957, Americans have suffered periodic bouts of competitiveness anxiety. Who imagined the Soviets would orbit the first Earth satellite? After the Soviets, it was the Germans in the
      The Washington Post  -  765 words
    • Article, Illustration
      Lock icon See healthcare productivity from patient’s perspective
      1031 20  -  Does their health improve in the shortest possible time at the lowest possible charges? By JEREMY LIM The writer is CEO, Fortis Healthcare Singapore UDGET 2012 reaffirms the government’s commitment to raising productivity and signals in no uncertain terms the stance that some short-term
      FILE PHOTO  -  1,031 words
    • Article, Illustration
      Lock icon Saving carmakers could save Obama
      1448 21  -  It will be difficult for pro-bankruptcy Romney and Santorum to challenge the pro-bailout president in November polls LEON HADAR Washington Correspondent AFTER their impressive Congressional victories in 2010, including the taking over of the House of Representatives, Republicans seemed to be on a roll and
      AFP  -  1,448 words
    • Article, Illustration
      Lock icon When a larger national debt is a national blessing
      777 21  -  J. BRADFORD DELONG The writer is a former assistant secretary of the US Treasury, professor of economics at the University of California at Berkeley and a research associate at the National Bureau for Economic Research Project Syndicate ACROSS the Euro-Atlantic world,
      Project Syndicate  -  777 words
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      2946 22 Transaction date: Mar 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 Last Vol Day Last Quote Div Gr Yld 112.5 92.5 AIMSAMPIReit 106.5 -0.5 296 107 106 106.5 107 1.9 10.8
      2,946 words
    • Article
      Lock icon SGX CATALIST
      171 23 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale (’000) High Low Buyer Seller C'vr P/E Smil 16
      171 words
    • Article
      Lock icon UNIT TRUSTS & FUNDS
      7302 23 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Asset Mat Pte Ltd APS Alpha Fund Cl A!** AXA Wealth Mgt S'pore Pte Ltd APS Alpha Fund (USD)!** Aberdeen Asset Mgt Asia Limited 1.03/ Aberdeen Asset Mgt Asia Limited Asian Local Ccy SD Bond ...1 0029/ Asian Smaller
      7,302 words
    • Article
      Lock icon GLOBALQUOTE
      188 23 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 46 25.5 Genting HK US$ US36 -0.5 8907 37 36 35.5 36 2370.4 Vol 205 168 TanChongInt HK191 191 197 2.9 2.6 13.3 3846.5 STOCK PRICES LEGEND:
      188 words
    • Article
      Lock icon SGX ETF
      889 23 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 109.5 ABF SG Bond ETF 118 108 118.4 118 118 118.5 538.6 1261 856 CIMBAsean40 100US$ US1042 1050 1054 41.7 ***** ***** DBXT AUD Bonds
      889 words
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  • FINANCE & COMMODITIES
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 24 In local curr In S$ In US$ dy yr dy yr dy yr Feb 29 Index Change Change Change Change Change Change World Preliminary 904.8 -0.3 9.0 -0.7 5.7 -0.2 9.9 EAFE Preliminary 745.9 -0.2 9.3 -0.6 6.7 -0.2 11.0 Europe Preliminary 1103.3 -0.4 7.5
      373 words
    • Article
      Lock icon CHICAGO BOT
      107 24 Feb 29 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Mar 12 1313.50 1305.25 1317.50 1301.50 May 12 1320.00 1312.50 1324.25 1308.00 Jul 12 1327.75 1319.75 1331.75 1315.50 Aug 12 1317.00 1312.50 1321.25 1308.00 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Mar 12 54.09
      107 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      76 24 CRUDE OIL PRODUCTS Feb 29 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 121.47 -1.83 WTI (Near Mth) 107.14 0.44 Dubai (1-Mth F) 119.63 -1.23 Tapis blend 131.00 -0.63 Minas 130.80 -0.63 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 120.00 0.11 Jet Kerosene 135.45 -1.35 US$/barrel OpecOil Basket
      76 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      78 24 Mar 1 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****H 31-May-12 0.33 1-Year BY*****W 01-Nov-12 0.33 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.250 01-Feb-14 99.99 5-Year N*****0Z 2.375 01-Apr-17 108.76 3-Month 10-Year NX*****X 2.250
      78 words
    • Article
      Lock icon SGX DERIVATIVES TRADING
      451 24 Mar 1 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar12 99.5425 0 2467 Jun12 99.5450 0 377 Sep12 99.5100 0 628 Dec12 99.4650 0 1443 EUROYEN TIBOR FUTURES Mar12 99.6650 0 1915 Jun12 99.6650 0 1849 Sep12 99.6650 0 683 Dec12 99.6650 0 415 Mar13 99.6650
      451 words
    • Article, Illustration
      Lock icon SMX MARKET UPDATE
      109 24 As on 29 February 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT APR2012 1791.40 1712.40 1711.40 493 CURRENCY AUD-USD FUT MAR2012 1.0824 1.0783 1.0744 21 EUR-USD FUT MAR2012 1.3487 1.3346 1.3345 6317 BASE METAL COPPER FUT MAY2012 8727 8440 8554 3614
      109 words
    • Article
      Lock icon SGX FUTURES
      156 24 Mar 1 SICOM RUBBER Futures (Closing prices) RSS 3(US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Apr 12 403.5 403.5 403.5 7 144 May 12 407.0 406.9 407.0 19 214 Jun 12 412.0 219 Jul 12 413.0 148 Aug 12 413.0 130 Sep 12 412.0
      156 words
    • Article
      Lock icon LONDON METALS
      65 24 Feb 29 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2285.50 2283.00 3 months 2328.00 2325.00 Copper, Grade A(US$/tonne) Cash 8493.00 8603.50 3 months 8499.00 8600.00 Lead(US$/tonne) Cash 2130.50 2227.25 3 months 2160.50 2256.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.50 *****.00 3 months
      65 words
    • Article
      Lock icon LIFFE
      80 24 Feb 29 COCOA (£/tonne) Close Prev High/Low Mar 12 1479 1513 1516/1470 May 12 1493 1522 1523/1482 Jul 12 1506 1531 1533/1495 Sep 12 1509 1533 1536/1500 COFFEE(US$/tonne) Close Prev High/Low Mar 12 2009 2008 2029/2005 May 12 2009 2008 2033/2005 Jul 12 1989 1992 2014/1991 Sep 12 2002
      80 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1340 24 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 2 1 150 201 25.25 26 Baker Technology Ltd W*****6 5.8 1 32 26 5.17 8 Best World Intl Ltd W*****5 2 1 30 78 9.00 16 Biosensors
      1,340 words
    • Article
      Lock icon INTERBANK CROSS RATES
      470 24 Mar 1 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.062 6.766 0.806 8.330 52.857 97.846 0.871 12.024 3.226 1.288 97.663 45.985 1.343 8.051 0.972 31.657 32.823 0.675 1.074 Canada 0.941 6.369
      470 words
    • Article
      Lock icon SIBOR
      57 24 Mar 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 1.***** 0.***** SWAP Offer rates (S$) 2 mths 0.***** 0.***** 6 mths 0.***** SWAP Mid rates (S$) 0.***** SWAP Mid rates (S$) 1
      57 words
    • Article
      Lock icon PRECIOUS METALS
      137 24 Mar 1 GOLD(US$/oz) Mar 01 Feb 29 Hong Kong 1729.50 1791.50 Feb 29 Feb 29 Feb 28 London 1734.36 1783.98 1735.13 1784.98 Source: Thomson Reuters CAST BAR Mar 01 (S$) Selling Buying Kilobar *****.51 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 166 69 5gm 471 345 10gm
      137 words
    • Article
      Lock icon PALM OIL
      57 24 Mar 1 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Mar 12 3215.0 3255.0 3240.0 3213.0 157 1314 Apr 12 3234.0 3268.0 3268.0 3221.0 1974 ***** May 12 3250.0 3285.0 3285.0 3233.0 ***** ***** Jun 12 3253.0 3280.0
      57 words
    • Article
      Lock icon STOCK INDEX FUTURES
      26 24 Mar 1 Open High Sett STI Mar 2999 3002 2987.0 SIMSCI Mar 348.0 349.7 346.2 Taiwan Mar 288.8 290.7 288.7 Source: SGX Derivatives
      26 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 24 Mar 1 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3424 1.3439 1.0738 1.0743 Canadian dollar 1.2635 1.2649 1.0107 1.0111 Euro 1.6648 1.6661 1.3317 1.3318 NZ dollar 1.0422 1.0435 0.8337 0.8341 Sterling pound 1.9897 1.9915 1.5916 1.5919
      154 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      22 24 Mar 1 S$ Bid Offer 1-month 1.2501 1.2510 2-months 1.2500 1.2510 3-months 1.2499 1.2508 6-months 1.2487 1.2498 Source: OCBC
      22 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 24 As at 9am Mar 01 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.375 1.31 Can dollar 1.288 1.239 Euro 1.698 1.633 Sterling pound 2.029 1.951 NZ dollar 1.075 1.024 US dollar 1.269 1.221 Local dollars to 100 units of foreign
      121 words
    • Article
      Lock icon INTERBANK RATES
      160 24 Mar 1 $S Offer Bid 0vernight 0.02 par 1-month 5/16 3/16 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.07 US$ Offer Bid 7 days 0.25 0.15 1 month 0.40 0.20 2 months 0.50 0.30 3 months 0.65 0.45 6 months 0.90 0.70 9 months 1.05 0.85 12
      160 words
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  • Article
    Lock icon The Business Times Shipping times
    3898 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 UK CONTINENT SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination Destination STXPO
    3,898 words
  • Page 25 Advertisements
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      Lock icon Page 25 Advertisements Column 1
      47 25 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES Shipping Times I FREIGHT FORWARDER urgently needed by shippers TO ADVERTISE, CALL JOE WONG AT 9620 Can they find your services here in the Shipping Times? The Business Times Shipping Times
      47 words
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      Lock icon Page 25 Advertisements Column 2
      14 25 TO ADVERTISE IN m The Business Times Shipping times CALL JOE WONG AT *****327
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  • Page 26 Advertisements
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      Lock icon Page 26 Advertisements Column 1
      102 26 `-/{,@{^"%;@]{"!~;*(-@!,]{->\"" I 1 ADVERTISI FORWARDER urgently needed fc>y shippers JOE WONG AT 9620 'X n they -Find youi re in the Shippii Announce Your Corporate Development Come publicise your Project Completion, Ship Christenings Delivery of Newbuilds, Vessel Conversion Refurbishment, Award Wins Certifications, Corporate Image, Corporate Developments and Company Anniversaries. There’s
      102 words
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  • Page 27 Advertisements
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      Lock icon Page 27 Advertisements Column 1
      57 27 ART SEASONS Singapore I Beijing I Jakarta The Collectors Show Contemporary Art from Asia March 1 March 25, 2012 ART SEASONS at PoMo Gallery hours: Mondays to Saturdays from 11am to 7pm, and Sundays from 1 pm to 6pm. We are closed on Public Holidays. T +65 6741 6366 F
      57 words
  • Page 27 Miscellaneous
    • Miscellaneous
      Lock icon Page 27 Miscellaneous Column 1
      316 27 CRYPTIC CROSSWORD Across 1 Pirate and girl admitting love on ship (10) 9 Stake in a buoyant economy (4) 10 Powerless supporter of sport (4-6) 11 Doctor goes to hospital bearing material (6) 12 Saucy girl that accompanies travellers (7) 15 There’s a tonic in eggs scrambled around mid-morning (7)
      316 words
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  • executive lifestyle
    • Article, Illustration
      Lock icon ART AT THE HELM
      2386 32  -  Chief executive officers are taking their private love of art to the public domain to benefit artists and charities, reportsCHEAH Shared treasures CHEAH UI-HOON Ong Yew Huat Ernst Young Art Outreach IT wasn’t part of any master plan to promote art or meet the obligation to
      PHOTOS OF EDMUND CHENG OF WING TAI BY YEN MENG JIIN; PHOTO-ILLUSTRATION: HYRIE RAHMAT; PHOTOS: ERNST & YOUNG SINGAPORE  -  2,386 words
    • COVER STORY
      • Article, Illustration
        Lock icon Mission of giving
        1583 31  -  Howard Bilton Founder of the Sovereign Art Prize NO other art prize has expanded its footprint across the globe in such a dizzying pace or given so much to charity. The Sovereign Art Prize which started in Asia in 2003 is now in Europe and also Africa
        PHOTOS:  -  1,583 words
    • ARTS/WINE
      • Article, Illustration
        Lock icon Power to the people
        727 27  -  Cooling Off Day finds a common thread that runs through everyone from ranting opposition supporters to loyal PAP fans we’re all patriots, writesNATALIE KOH writesNATALIE writesNATALIE KOH I NTO its second run a year after the General Elections, the main question on anyone’s minds about the
        FAREEZ AHMAD/WILD RICE  -  727 words
      • Article, Illustration
        Lock icon All-rite class act
        513 27  -  By NATALIE KOH IN a play about religion, it’s inevitable that it will revolve around dissent. Despite initial apprehension that dance-thea-tre production INRI would be a chest-thumping anti-Catholic tirade, one was pleasantly proven wrong. The title refers to the Latin inscription over Jesus’s head when he was
        513 words
      • Article, Illustration
        Lock icon Highs and lows
        525 27  -  By NATALIE KOH WITH two Mozart works under its belt The Magic Flute and The Marriage of Figaro it was just a matter of time before the Singapore Lyric Opera (SLO) tackled Don Giovanni (right), one of the Austrian composer’s most famous works. The result is commendable,
        525 words
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        Lock icon Wine’s magnum opus
        1124 27  -  By N K YONG PERHAPS the most famous bottles of old Bordeaux were and still are the Conning-ham-bottled magnums of 1870 Chateau Lafite from Glamis Castle in Scotland and auctioned at Christie’s in 1971. So when I was offered a bottle of 1870 Bordeaux from the cellar
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    • ARTS
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        Lock icon Pushing the limits of paper
        801 28  -  Handiwirman Saputra imbues paper with 3D glory, writes MADHVI SUBRAHMANIAN writesMADHVI MADHVI SUBRAHMANIAN WHEN artists leave the comfort zone of their own studios to explore a new medium and a new space, frustration may ensue but at the same time, groundbreaking work may also emerge.
        PHOTOS: SINGAPORE TYLER PRINT INSTITUTE  -  801 words
      • Article, Illustration
        Lock icon Auctioneers warned about joint sales
        872 28  -  By CHEAH UI-HOON TWO auction houses which held a joint sale have received a cautionary letter from the Competition Commission of Singapore, reminding them to be wary of contravening Singapore’s anti-competitive laws. The two auction houses, Larasati Auctioneers and Borobudur Auction, had held a joint
        FILE PHOTO  -  872 words
      • Article, Illustration
        Lock icon Artists picked for New York show
        637 28  -  By RACHEL LOI SINGAPOREAN artists Heman Chong and Ho Tzu Nyen will get to rub shoulders with the art world’s glitterati when their works go on display at The Armory Show in New York next weekend. The artists’ presence in The Armory Show is
        PHOTOS: SINGAPORE TYLER PRINT INSTITUTE, HEMAN CHONG  -  637 words
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        Lock icon Super-sized talents
        592 28  -  By RACHEL LOI BROADWAY may have its tri-ple-threats talented individuals who can sing, act and dance but this year’s National University of Singapore (NUS) Arts Festival has what director Huzir Sulaiman calls “quad-ruple-threats” people who can sing, act, dance, and write their own script and songs. The production
        CHECKPOINT THEATRE  -  592 words
    • MUSIC
      • Article, Illustration
        Lock icon In a sonic spell
        472 29  -  By ANNA LEE THE musician’s craft is akin to the magician’s. Once on stage, he brings surprise after surprise, both wowing and entertaining the listener, evoking emotions from awe to confusion. Like a magician’s wand, Ari Hoenig hopes his drumstick will cast a spell over the
        472 words
      • Article, Illustration
        Lock icon Lots of Elbow room
        712 29  -  MOSAIC MUSIC FESTIVAL 2012 This year promises to be a dazzling showcase of some of the international music scene’s most riveting acts By CHRISTOPHER LIM One of the reasons we listen to music is to be moved, so it’s a good sign that British rock band
        712 words
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        Lock icon Big band treat
        487 29  -  By CHRISTOPHER LIM JAZZ big bands hearken to a particular period in jazz’s history, in the 1920s and 1930s, when leaders like Count Basie and Duke Ellington were carving a name with their ensembles. And for some people, big bands are a bit of an anachronism today.
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        Lock icon Mosaic CD peeks
        500 29  -  By CHRISTOPHER LIM CONCERTGOERS wondering how to apportion their budgets in the Esplanade’s Mosaic Music Festival (www.mosaicmusicfestival.com) should check out these albums so that they know what to zero in on when things kick off next Friday. Although Mosaic’s pretty much a gen-re-hopping blank slate these days,
        500 words
      • Article, Illustration
        Lock icon Evanescence fails to power up
        523 29  -  By RACHEL LOI IT MAY have undergone several changes in lineup in recent years, but going by Monday’s concert, the heart of American rock band Evanescence still lies in its lead vocalist, Amy Lee (right). It’s not to say that its four new band members
        MARCUS LIN  -  523 words
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        Lock icon In fine form
        426 29  -  By CHRISTOPHER LIM IT’S insane that a singer-song-writer as talented as Rachael Yamagata (right) can’t get a record deal. She described herself as being “stuck in label hell” during her solo gig here last year. But that didn’t stop her raising money for Chesapeake online, recording the
        JOANNA KWA  -  426 words
    • CINEMA
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        Lock icon Yeoh plays The Lady of her lifetime
        853 30  -  For Michelle Yeoh whose chopsocky cred is unbeatable, meeting Aung San Suu Kyi made her weak in the knees, reports DYLAN TAN reportsDYLAN reportsDYLAN TAN BY her own admission, Michelle Yeoh is very picky about the roles she plays. For an actress whose
        GOLDEN VILLAGE  -  853 words
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        Lock icon Affective labour of love
        500 30  -  By DYLAN TAN A GRITTY war drama about the atrocities of the 1992-1995 Balkan conflict is probably the last thing you’d expect from a Hollywood sex kitten like Angelina Jolie, but the active human-rights campaigner and United Nations goodwill ambassador puts her money where her luscious
        PHOTOS: FILMDISTRICT AND GK FILMS  -  500 words
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        Lock icon Love transcends barbed wire
        583 30  -  By DYLAN TAN IT will come as a surprise to many that Luc Besson’s The Lady is less a biopic about the political struggles of Burmese freedom fighter Aung San Suu Kyi (Michelle Yeoh) and more a love story between her and her British husband Michael
        583 words
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        Lock icon Why Spencer won her Oscar
        408 30  -  BLU-RAY REVIEW By CHRISTOPHER LIM THE special features of the Blu-ray release of The Help are a great place to find out why the movie got nominated for four Oscars and helped Octavia Spencer, 39, win her first Oscar for her supporting role as Minny
        408 words
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