The Business Times, 12 March 2012

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Total Pages: 30
1 30 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 120/08/2011 Monday, March 12, 2012
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  • 827 1  -  UK’s big size, trade volumes and right time zone all favour the city By SIOW LI SEN [SINGAPORE] Singapore, trying to make its mark as a second offshore yuan centre, is facing challenges from an unexpected quarter London which has advantages such
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  • MARKETS DIGEST
    • 57 1 Weekly Change ST INDEX 2,963.15 -30.34 KL COMP 1,579.00 -4.78 NIKKEI 225 9,929.74 +152.71 HANG SENG 21,086.00 -476.26 SET INDEX 1,158.71 -6.44 JAKARTA COMP 3,991.54 -13.33 MANILA COMP 4,980.71 -35.59 SEOUL COMP 2,018.30 -16.33 SHENZHEN B 678.10 +0.58 MUMBAI IND 17,503.24 -133.75 DOW 12,922.02 -55.55 NASDAQ 2,988.34 +12.15 S&P
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    • 18 1 SINGAPORE 5.38 MALAYSIA 5.55 HONG KONG 5.00 INDONESIA 0.50 TAIWAN 5.035 JAPAN 1.475 KOREA Source: Bloomberg
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    • 49 1 us$ s$ US$ (S$ per US$) 1.254 (US$/S$ per 1.580 1.981 EURO (US$/S$/E) 1.322 1.658 Foreign currency per US$ S$ YEN 81.70 65.10 RM 3.011 2.401 HK$ 7.757 6.185 BAHT 30.56 24.36 RUPIAH 9,133 7,282 RENMINBI 6.311 5.032 INDIAN RUPEE 49.96 39.83 A$ 0.941 0.750 NZ$ 1.214 0.968
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  • 737 1  -  Post-disaster rebuilding will take at least a decade By ANTHONY ROWLEY in Tokyo JAPAN yesterday remembered in a brief and poignant moment of silence and prayer the terrible events of a year earlier when on March 11, 2011, a massive earthquake and tsunami wreaked havoc
    REUTERS  -  737 words
  • Page 1 Advertisements
    • 224 1 YOUNG INVESTORS’ FORUM How to avoid a back-breaking mortgage PAGE 14 DINING OUT Forest adventures with Sam Leong PAGE 23 OCBC CYCLE 2012 Pedal power gaining traction PAGE 22 VIEWS FROM THE TOP Finding and keeping talent pages 11-13 BT ONLINE BT print subscribers get free access to BT Online
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  • TOP STORIES
    • 552 2 London challenge for S’pore as offshore yuan hub SINGAPORE, trying to make its mark as a second offshore yuan centre, is facing challenges from an unexpected quarter London which has advantages like the size of its hinterland, Beijing’s support and the right time zone. FRONT PAGE Japan remembers,
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    • 804 2 CDS traders’ panel to speed up auction to settle about US$3b of contracts Holdings Bloomberg Holdings Inc in 2008. Reuters, Bloomberg [NEW YORK] Greece’s debt swap deal has triggered the payout of insurance protection on the country’s bonds because of legislation that
      Holdings Bloomberg; Holdings Inc in 2008. – Reuters, Bloomberg; AP  -  804 words
    • 592 4  -  China, HK, S Korea big buyers with total topping US$1.9b Reports by CHUANG PECK MING [SINGAPORE] Singapore led the pack in Asia last year as investors in the region continued to cut back on their purchases of US stocks. Investors here in
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    • 219 4 [SINGAPORE] While Singapore investors were dumping US stocks in 2011, US investors were amassing Singapore equities in a year that saw the Straits Times Index fall 17 per cent. US investors snapped up a net US$2.26 billion of shares listed on the Singapore Exchange
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    • 836 4  -  But jobs data, news from Greece may convince Fed there is no need for a QE3 WALL STREET INSIGHT By ROB CURRAN GREECE will receive its bailout, Iran has come to the negotiating table, and the US labour market is growing
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    • 466 4 [SINGAPORE] Former Attor-ney-General Tan Boon Teik who died on Saturday at the age of 83 played a pivotal role in shaping Singapore’s legal landscape, the AG’s Chambers (AGC) said yesterday in a tribute. Singapore’s longest-serv-ing AG post-independence, Mr Tan held office for
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  • Page 2 Advertisements
    • 450 2 Time waits for no one. But for you, it will stand still. While the world plays queue-up, you breeze right through. However long a journey, the distance will never show on you. For when you travel, there's a card that looks after everything for you. HSBC Visa Infinite. For those
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  • Page 3 Advertisements
    • 70 3 Rank Name 01 Yasmin Ziqin Bte Mohamed Yousoof 02 Muzammil Arif Din s/o Abdul Jabbar 03 Hannah Tan 04 Natalia Nadila Bte Muhamad N 05 Leia Teo 06 Avril Wong 07 Grace Hu 08 Tan Wei Jun 09 Cheryl Tan 10 Deanna See 11 Marcus Ooi 12 Lim Jia Ying
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  • Page 4 Advertisements
    • 162 4 The 12th International Exhibition of Wine Spirits www.winespiritsasia.com dessert distilled C beer 0> oQ.g c—£ .5Vum2 go| «c<» aleC OJ breweryQQl^ essence acidity champagne*nose improving sommelier 7 O lager withal O bottle maceration! .O n S re asangiovese C o full-bodied >. o q spirits jo >55 g fisigSs l&SlSai
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    • 75 4 U.S. FRANCHISES EXPANDING IN SINGAPORE AND MALAYSIA Educational programs focused on creativity, innovation entrepreneurship for corporate executives, schools and children ages 5-15. Seeking Master Licensees Single Center Licensees Licensee US$28,000 (Single Center) Master Partner US$50,000 (Single Area) Presentation and meetings will be held in Singapore on: 22nd 24th March 2012
      75 words
    • 138 4 The Leading Operator Established 1985 “Satisfying your corporate needs” We are always actively involved in identifying the true needs of our clients and ensuring that those needs are met on time and on budget. A dynamic team rich in experience, professionalism and knowledge. Always believe in going far and beyond
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  • COMPANY NEWS
    • 296 5 Mar 9 BANKS Agricultural Bank Of China 5.5 Agricultural Bank Of China 5.5 Banco Bilbao Vizcaya 6 Arab Bank PIC Bank Julius Baer Co. Ltd(S) 5 Banco Bilbao Vizcaya Bank of China Limited 5.5 Bank of Communications 5.5 6 Bank Julius Baer Co. Ltd(S)... Bank of New
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    • 178 5 COMPANY MEETING PLACE DATE TIME Kinergy Ltd E Blk 5002 Ang Mo Kio Ave 5 #03-03 TechPlace II, Singapore *****1 10-Mar 10.00am Qian Hu Corp A No. 71 Jalan Lekar, Singapore *****0 15-Mar 11.00am Ascendas Reit E Level 4 Auditorium, 87 Science Park Drive, Science Hub, Singapore *****0
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    • 802 5  -  HOCK LOCK SIEW By SIOW LI SEN LAST Thursday, Mapletree Logistics Trust (MLT) sold $350 million worth of perpetual securities, a first for a real estate investment trust. Naturally, MLT chief executive Richard Lai was happy over the successful sale, though some investors who
      802 words
    • 511 5  -  By LEE U-WEN MAINBOARD-LISTED Stratech Systems Limited has revealed that it commissioned Ernst Young Advisory to conduct an independent review into its operations following a series of complaints against the defence technology company. The allegations detailed in various anonymous letters to
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    • 1753 7  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Limited THE buying was high for the second straight week while the selling among directors fell, based on filings on the Singapore Exchange from March 5 to 9. Buyers outweighed sellers with 17
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  • Page 5 Advertisements
    • 167 5 {Q TMC Academy Academy Every Step With You Ff UNIVERSITY of ABERDEEN ABOUT UNIVERSITY OF ABERDEEN Trip i Rfi' n w r^ UU Times Higher Education Z Founded in 1495 Z 5 Nobel Prizes awarded for work carried out or begun at Aberdeen Z 90% of research activity is of
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    • 209 5 Ol 11 I I 1 W v' •A uum mm um #v V ■■■■■■a World's Finest Serviced Offices A cost effective Serviced Office solution Best address, best receptionist, best IT and support Flexible lease terms starting from one month For less than the cost of a secretary We help businesses
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  • SINGAPORE MARKETS
    • 626 6  -  STOCKS R SIVANITHY Senior Correspondent IT probably hasn’t escaped the attention of most market observers that major equity indices around the world are having difficulty piercing certain resistance levels. For example, the Dow Jones Industrial Average doesn’t seem able to break convincingly through
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    • 558 6 COMMODITIES AFP [LONDON] Commodity markets faltered last week after an unexpected growth outlook downgrade from key consumer China, but sentiment was soothed by a successful Greek debt swap deal and upbeat US payrolls data. Monday’s announcement by Premier Wen Jiabao at the opening
      AFP  -  558 words
    • 634 6 CURRENCIES Bloomberg [SINGAPORE] Most Asian currencies pared last week’s losses after the announcement that investors with 95.7 per cent of Greece’s privately held bonds will participate in a debt swap and a report indicated China’s inflation slowed. The MSCI Asia-Pacific Index of
      Bloomberg  -  634 words
    • 1527 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price AIMS AMP Capital Ind REIT 2.00 2.00 2 9.70 11.08 1.42 1.08 Amtek Engg I 2.40 2.60 5 0.08 6.96 0.86 0.69 ARA Asset Mgt 1.56 1.56
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    • 4 6 WEEKLY
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    • 66 6 Mar 9 VALUE CLOSE BT OB/OS -276.00 -60.00 BT CADI -*****.00 +20.00 BT 10-day MA -*****.00 -28.00 FTSE ST Mid Cap 684.02 -0.06 FTSE ST Small Cap 459.59 +0.69 FTSE ST All Share 717.11 -1.30 FTSE ST China Top 224.23 -0.19 FTSE ST China 251.88 -1.27 FTSE
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    • 57 6 VOLUME UPP 563,688,000 Golden Agri 494,151,000 TopGlobal 285,516,000 UniFiber 257,215,000 Noble Grp 228,819,000 TopGlobal W*****9 222,883,000 MDR 210,966,000 Genting SP 183,307,000 Rowsley 155,415,000 HPH Trust US$ 147,268,000 VALUE($) SembMar 567,537,639 Wilmar 460,449,515 Golden Agri 353,859,392 Noble Grp 312,236,736 Genting SP 290,670,440 SingTel 261,567,250 DBS Grp 256,778,570 Keppel
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    • 105 6 BY CENTS CLOSE UP JSH 3221 211.9 5.5 JMH 5187 184.3 2.9 Great Eastern 1512 104.0 7.4 Hyflux 6% CPS 10 ***** 80.0 0.7 Total Access 245 37.6 14.0 DBXT S&P Short 10US$ 3808 33.9 0.7 CityDev.ES.1203 1128 28.0 2.5 Venture Corp 865 28.0 3.3 Petra 225 25.0 12.5
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    • 123 6 BY CENTS CLOSE DOWN DBXT Nifty 10US$ ***** -515.2 -3.7 IS S&P500 ***** -389.9 -2.2 DBXT E50 10US$ 3628 -255.7 -5.3 Lyxor Indonesia10US$ 9195 -198.1 -1.7 DBXT MSEurope 10US$ 4326 -195.6 -3.5 GLD 10US$ ***** -180.5 -0.9 DBXT MSAsExJp 10US$ 3100 -164.2 -4.1 Lyxor ThaiSET 10US$ ***** -163.0 -1.2
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    • 5 6 WEEKLY
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    • 1671 8  -  TEH HOOI LING Senior Correspondent GOING by the performance of Wall Street last week, there may still be legs for the local stock market. In the US, stocks rose on Friday after the February jobs report bolstered hopes that the US economic recovery is on
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  • Page 7 Advertisements
    • 116 7 Finance new opportunities That’s what commercial lenders can do when they’re smart about managing risk. And smart lenders can seed innovative new businesses by working with CME Group, the world’s leading derivatives marketplace. Emerging growth companies and financial institutions around the world come to us to manage virtually every kind
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  • Page 9 Advertisements
    • 260 9 I Jfe. a n C 0 0 c TTTTTO nies •f’« v L. I s A powerful collaboration has been formed with Rengo Co., Ltd., one of Japan's leading global packaging manufacturers. Hung Hing Printing Group Ltd. boasts a history of more than 60 years, and is one of the
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  • SINGAPORE NEWS
    • 376 10  -  Proceeds from ticket sales will go to The Business Times Budding Artists Fund By RACHEL LOI SIX renowned chefs from local restaurants will put down their white hats and pick up musical instruments for a one-night only FIJI Water Rockstar Chefs Charity
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    • 385 10  -  By AMANDA EBER SINGAPOREANS are finding it harder and harder to strike a healthy work-life balance, according to a global survey by Accenture. It found that only 45 per cent of Singaporean workers felt that they had a good work-life
      385 words
    • 76 10 IN celebration of International Women’s Day, more than 300 Citibankers raced up 40 floors of Asia Square for a good cause last Friday. It is the first Vertical Marathon to be held at Asia Square. They raised over $80,000 in donations from friends, family
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    • 1484 10 Payment Ex Books Pay Ann (cts) date close date date Adampak Ltd ak 1.000 08-May 10-May 25-May 01-Mar Adv Integrated Mft ak 0.180 07-May 09-May 18-May 28-Feb AEI Corp an 1.000 04-May 08-May 18-May 27-Feb AIMS Amp Cap Ind Reit ag 2.600 03-Feb 07-Feb 20-Mar 20-Jan AP Oil
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  • Page 10 Advertisements
    • 2578 10 BSATa NOTICES OSIM INTERNATIONAL LTD (Company Registration No. *****4191N) (Incorporated in Singapore with limited liability) OSIM* Inspiring well-being NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of OSIM International Ltd (“the Company”) will be held at 65 Ubi Avenue 1. OSIM Headquarters, Singapore *****9
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  • VIEWS FROM THE TOP
    • 3791 11 THIS WEEK’S TOPIC What are the key challenges organisations face in recruiting and keeping skilled and talented employees? Are businesses and the authorities doing enough to facilitate the supply of talent, both home-grown and from overseas? Quek Suan Kiat Singapore Country Manager Barclays Bank ATTRACTING and
      BLOOMBERG  -  3,791 words
  • Page 11 Advertisements
    • 136 11 Professional PERSONALISED Passionate "tin 'll ft VI 1 At Capita, talent is driven by passion. In a world where knowledge is easily acquired, it becomes increasingly important for successful organisations to find people who share the corporate passion. That is why we place highly driven individuals whose passion allows you
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    • 334 11 SEARCHASIA MANAGING CAREERS PROCURING TALENT Singapore Sydney Taipei Kuala Lumpur Hong Kong Shanghai Tokyo a In this very competitive market, you may be offered an almost-identical service at a fraction of the cost. The ultimate test comes when the goods are delivered. Do they meet your needs and requirements? Is
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  • Page 12 Advertisements
    • 366 12 Established and headquartered in Singapore, Straits TalentTMis a solution-focused executive search firm and human capital business partner. We pride ourselves in providing innovative and tailored human capital solutions so as to aid value creation for your business. In this knowledge era we live in, intellectual capital is pivotal to every
      366 words
    • 188 12 CHARTERHOUSE www.charterhouse.com.sg a Hi V 4k A Charterhouse was formed in 2003 in Australia and it has established itself as a reputed recruitment specialist in its industry. With footprints in Asia, Australasia and the Middle East, Charterhouse offers professional and bespoke contingency and retained search services across a variety of
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  • Page 13 Advertisements
    • 111 13 www.mercuriurval.com Is your team a winning team? What makes a winning team is the right combination. Organisations that attract, motivate and retain the right people outperform those that don’t. We are pioneers in predicting the impact people have on business results. From a single assignment to hiring an entire organisation,
      111 words
    • 78 13 AYP Associates is a leading provider of Executive Search and Human Resource Consultancy services in the Asia Pacific region that is committed to deliver the finest talent. Coming from diverse industries, our team of professionals understand the needs of your business. With our global network and database, we can connect
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 1232 14 Borrowers who defaulted on their loans tend to lack financial literacy and numerical ability, a study of the US sub-prime fiasco finds WHILE mortgage credit expansion led to a rapid increase of home ownership in the US, the reversal of home prices beginning in 2006 resulted
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    • 1269 14  -  STARTING YOUNG By TEH SHI NING THE trio behind tech start-up Sageby may still be in their final year of university, but they already consider the business a “full-time” affair. So instead of rehearsing for the next graded presentation or sweating over coursework
      YEN MENG JIIN  -  1,269 words
  • Page 14 Advertisements
    • 162 14 Get started now Be a young investor DO you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to
      162 words

  • ECONOMY WATCH
    • 473 15 Germany, France are now much weaker than they were one year ago: economist NYT [NEW YORK] US businesses say that the level of new orders is continuing to rise, even as it weakens in most European countries. Each month manufacturers in
      NYT  -  473 words
    • 308 15 Bloomberg [SYDNEY] Australia needs to find “significant savings” in the budget to be presented in May, as the government remains determined to return to surplus in the next fiscal year, Treasurer Wayne Swan said. “One of the lingering effects of the global financial
      Bloomberg  -  308 words
    • 480 15  -  75% of them want more done to tackle high cost of living By LEE U-WEN [SINGAPORE] Three in four Thais say that they want the government to do more to tackle the high cost of living more than any other problem. This is among
      AFP  -  480 words
    • 221 15 Bloomberg [ABU DHABI] Dubai Investments PJSC, the owner of stakes in more than 40 companies, plans to exit some of its businesses as Dubai’s economy shows signs of recovery, chief executive officer Khalid bin Kalban said. “We have three companies under evaluation or due
      Bloomberg  -  221 words
  • Page 15 Advertisements
    • 60 15 Sul ii' W BSii mm S! m. m zr^'" =JS«S3 02X3S2 ms Nt -vi We warmly welcome distinguished Guests to the East Asia Pacific Concrete Pumping Services Forum on 13th March 2012 at Hard Rock Hotel, Sentosa, Singapore. We are proud to be the organiser of this highly anticipated event.
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  • MALAYSIA/INDONESIA
    • 451 16 Corruption scandal has put pressure on PM’s govt ahead of looming elections AFP, Reuters [KUALA LUMPUR] Women’s affairs minister Shahrizat Jalil announced her resignation yesterday amid an alleged corruption scandal that has put pressure on Prime Minister Najib Razak’s government ahead of looming elections. Ms
      AFP,; Reuters  -  451 words
    • 353 16 Rule will not apply to companies with foreign investors Reuters [JAKARTA] Indonesia has issued a decree banning foreign chief executives from running wholly owned local companies, but said that the regulation would not apply to companies with foreign investors, a senior
      Reuters; REUTERS  -  353 words
    • 637 16  -  MALAYSIA INSIGHT PAULINE NG KL Correspondent AHOUSING loan scheme to help lower income earners acquire a home in Malaysia has yet to get off the ground, as thus far, no applicants have been approved. Indeed, bankers doubt targeted applicants can qualify for the
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    • 1736 16 VOL Mar 9 RM +/-(‘000) VOL Advance Synerg 0.19 -0.01 3974 Adventa Bhd 1.60 unch 0 Ae Multi Hldgs 0.30 0.01 272 Affin Holdings 3.10 unch 202 Ahmad Zaki Res 1.02 0.13 1778 Abric Bhd Airasia Bhd 3.63 -0.03 3495 Alliance Finan 3.84 -0.01 2480 Aluminium Co 0.85
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  • Page 16 Advertisements
  • Page 16 Miscellaneous

  • GREATER CHINA/INDIA
    • 695 17 What worries the ruling party most is the fact inflation can ignite social unrest Reuters [BEIJING] If inflation is a dragon that must be slain, China’s Premier Wen Jiabao has shown he is willing to sacrifice a part of the country’s most vital
      Reuters; REUTERS  -  695 words
    • 503 17 The move will add 480b rupees into lenders, says RBI Bloomberg [NEW DELHI] India’s central bank unexpectedly cut the amount of deposits lenders need to set aside as reserves to ease a cash squeeze in the banking system that threatens
      Bloomberg; AP  -  503 words
    • 463 17 Business confidence renewed by rise in Asian share prices Reuters [BEIJING] Twice as many firms in China are eager to list on the stock market now compared to a year ago as rising Asian share prices rebuild confidence among businesses, the head of
      Reuters  -  463 words
  • Page 17 Advertisements
    • 328 17 >® < WAT3 NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices IN THE MATTER OF THE COMPANIES ACT, CAP. 50 and IN THE MATTER OF AMEDA HOLDINGS PTE. LTD. Company Regn No *****6373N (In Voluntary Liquidation) NOTICE IS HEREBY GIVEN that the Creditors of the abovenamed Company, which is being wound
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    • 557 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 and IN THE MATTER OF JCH SERVICES PTE. LTD. Company Regn No *****2294G (In Voluntary Liquidation) NOTICE IS HEREBY GIVEN that the Creditors of the abovenamed Company, which is being wound up voluntarily, are required on or before 12 APRIL 2012
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    • 532 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 and IN THE MATTER OF AMAROS PTE. LTD. Company Regn No *****6379Z (In Voluntary Liquidation) NOTICE IS HEREBY GIVEN that the Creditors of the abovenamed Company, which is being wound up voluntarily, are required on or before 12 APRIL 2012 send
      532 words
    • 332 17 IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF LINKFORD PTE. LTD. (In Member’s Voluntary Liquidation) (Company Registration No. *****2517Z) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Chapter 50 that the FINAL MEETING of the member
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    • 311 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SINGAPORE ONAMBA PRIVATE LIMITED (IN MEMBERS’ VOLUNTARY LIQUIDATION) COMPANY REGISTRATION NO. *****2624K Extract of the Minutes of an Extraordinary General Meeting of SINGAPORE ONAMBA PRIVATE LIMITED signed by the Representative of the Holding Company pursuant to
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  • WORLD
    • 673 18 There is still no definitive candidate to take on Obama in the Nov election US REPUBLICAN PRESIDENTIAL RACE AFP [BIRMINGHAM, Alabama] The battleground for the Republican presidential nomination heads to the deep South for tomorrow’s primaries in Alabama and Mississippi after hardline conservative Rick Santorum
      AFP; PHOTOS: AP  -  673 words
    • 739 18 AP [RIO DE JANEIRO] The over-stuffed bags filling Fernando Mello’s luggage cart wobbled precariously as the gym owner made his way home one morning through Rio’s international airport. Navigating the terminal, Mr Mello was part of a horde of other Brazilian
      AP  -  739 words
    • 590 18 Raiding shops and stopping luxury cars also raise concern NYT [ROME] When five officials from Italy’s internal revenue service entered the Dal Duca restaurant in Rome’s trendy Trastevere neighbourhood one night a few weeks ago, they were not there to eat. Instead,
      NYT  -  590 words
    • 350 18 Bloomberg [NEW YORK] Glencore International made a £3.5 billion (S$6.88 billion) bid for Viterra, Canada’s largest grain handler, The Sunday Telegraph reported. The approach prompted a March 9 statement from Viterra, saying the company had received expressions of interest from third parties,
      – Bloomberg  -  350 words
    • 651 19 China manufacturers invited to invest in plants, in reversal of roles post-tsunami company, NYT [AIZU-WAKAMATSU, Japan] Mayor Shohei Muroi knows it is a tough sell to get new companies to invest in this struggling industrial city just 60 miles from Japan’s most
      company, NYT  -  651 words
    • 467 19 It’s typical British mentality; officials aren’t worried AP [LONDON] With less than five months until the games begin, England’s mood is about as gray and gloomy as a rainy day along the River Thames. Instead of enthusiasm, euphoria and ebullience, the Olympic
      AP; AFP  -  467 words
    • 608 20 31 lenders undergoing tests, submitting capital plans for approval asking Bloomberg [NEW YORK] The Federal Reserve is pushing back against some banks’ proposals to pay dividends and buy back shares after concluding that the lenders are underestimating potential losses on consumer
      asking Bloomberg  -  608 words
    • 453 20 Bloomberg, Reuters [LONDON] Britain’s four biggest banks paid 32 senior executives a combined £103 million (S$202.5 million) last year amid political criticism of their bonuses. Barclays plc, which on Friday awarded chief executive officer Robert Diamond £6.3 million for 2011,
      Bloomberg,; Reuters; FILE PHOTO  -  453 words
    • 423 20 AP [NEW YORK] An instrumental piece of rock and roll history is going public. Fender Musical Instruments Corp, the maker of legendary guitars strummed by the likes of Buddy Holly, Jimmy Hendrix and Eric Clapton, filed papers on Thursday for a
      AP; PHOTOS: AP  -  423 words
    • 650 20 They aim to sell higher-margin products to group NYT [LARCHMONT, New York] Wine and cheese in the vault. After-hours appointments to suit busy schedules. And loads of marble and mahogany with not a teller in sight. Directly across the street from a workaday Chase
      NYT  -  650 words
    • 461 20 Some stores adding features that make more use of gadgets NYT [NEW YORK] When Nadia Karim goes shopping, she doesn’t wait around for salespeople. She saves items from apps and websites on her cellphone as a shopping list. And as
      NYT  -  461 words
  • Page 18 Advertisements
    • 241 18 WATS NOTICES 0 SINGAPORE WORKFORCE SKILLS QUALIFICATIONS Singapore A JA workforce m m\/m development w W m agency CALL FOR PROPOSAL (CFP) The Singapore Workforce Development Agency (WDA) invites prospective training providers to submit proposal for: CFP No.: WDA.TD.14.85.7.C.V1 Project Title: CFP for appointment of new Continuing Education and Training
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  • Page 19 Advertisements
    • 2442 19 TAC.LG 049/2012 9 March 2012 Re: Invitation to the 2012 Annual General Meeting of Shareholders To: All Shareholders of Total Access Communication Public Company Limited Enclosures: 1. Copy of the Minutes of the 2011 Annual General Meeting of Shareholders held on 21 April 2011 (Agenda Item 1) 2. Copy of
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  • AVIATION/SHIPPING
    • 441 21 Regulator says airlines are urged to buy planes based on costs savings Bloomberg, AP [BEIJING] China’s aviation regulator said that it hasn’t forbidden the nation’s airlines from buying Airbus SAS planes, two days after the aircraft maker’s parent said that carriers may forgo
      Bloomberg,; AP; BLOOMBERG  -  441 words
    • 493 21 Bloomberg [HANOI] Vietnam is seeking foreign investors to build two airports in the country so it can compete with other South-east Asian nations for regional air traffic. “We are in need of financial investments from many sources, domestic and foreign,” Nguyen Cong Hoan, director
      Bloomberg  -  493 words
    • 260 21 SGX '000 Mar 9 S$ +/-Vol CH Offshore 0.36 unch 468 Chuan Hup Hldg 0.22 unch 160 Cosco Corp 1.16 0.01 ***** Mar 9 Ezra Hldgs 1.21 0.01 4377 First Ship Lea 0.21 -0.01 438 Freight Links 0.06 unch 911 Grand Banks unch unch 0 Jaya Hold Ltd
      260 words
    • 313 21 Bloomberg [MUMBAI] Anurag Chadha had one thing to say after flight disruptions at billionaire Vijay Mallya’s Kingfisher Airlines Ltd curtailed his holiday plans. “I will never fly Kingfisher again,” Mr Chadha said last Thursday at Mumbai airport after arriving on a Jet Airways
      Bloomberg; AFP  -  313 words
    • 591 21 Ship glut to depress freight rates for up to two years: DVB Bloomberg [LONDON] Thirteen of the world’s 19 largest shipping banks stopped new lending to the industry amid an “extreme” vessel surplus that’s cut cash flows and led to vessel seizures,
      Bloomberg  -  591 words
    • 326 21 Reuters [BANGALORE] The Baltic Exchange’s main sea freight index, which tracks rates to ship dry commodities, ended the previous week on a high as it climbed for the 12th consecutive day, as higher rates for smaller vessels countered weakness in capesizes.
      Reuters  -  326 words
  • Page 21 Miscellaneous
    • 361 21 CRYPTIC CROSSWORD Across 1 Footwear worn by socially acceptable form of 10 (5) 4 The purging effect of desperate act is rash (9) 9 Sickened by Auden capriciously adopting parliamentary constituency (9) 10 Face such consequences in chamber, for example (5) 11 Puts a limit on bronze device on ship
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  • OCBC CYCLE 2012
    • 491 22  -  By EDWIN LOH THE OCBC Cycle Singapore event is cementing its position as a signature cycling event in Singapore, after drawing a record 11,000 international and local cyclists for its fourth edition this year. Held from March 2 to 4 at the F1 Pit Building, the
      Photos by SPECTRUM WORLDWIDE and NURIA LING/THE STRAITS TIMES  -  491 words

  • DINING OUT
    • 1024 23  -  By Jaime Ee NEW RESTAURANT Forest (Resorts World Sentosa) Level 1 Equarius Hotel 8 Sentosa Gateway Tel: 6577-7788 ONE can't help thinking that Forest the latest restaurant to open at Resorts World Sentosa was designed by a property agent. You know, the kind that advertises
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    • 18 23 Branchen Stars R1C-A 05/03/2012 152,11 EUR I db X-MACRO Trading Index Fund I4D 01/03/2012 95,41 GBP
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  • Page 23 Advertisements
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  • SINGAPORE STOCKS
    • 1464 24 Week ended: Mar 9 52-wks Last Vol Week Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company Last Sale Vol ('000) 112.5 92.5 AIMSAMPIReit 107.5 unch 2738 108 106.5 106.5 107.5 1.8 10.9 477.1 High Low Buyer
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    • 300 25 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale (’000) High Low Buyer Seller Cvr P/E Smil 28.5
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    • 115 25 Stock name Close Change Stock name Close Change Stock name Close Change CapMallsAsia 1.540 +0.005 CapitaLand 2.940 -0.020 CapitaMall 1.825 -0.005 CityDev 11.300 +0.310 ComfortDelGro 1.535 +0.005 DBS Grp 14.250 -0.050 F&N 6.640 -0.080 GLP 2.140 -0.030 Genting SP 1.590 Golden Agri 0.735 +0.020 HK Land
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    • 2244 25 Transaction date: Mar 9 HONG KONG Vol HK$ +/-'000 Aeon Credit 5.95 unch 0 Aeon Stores 20.50 0.45 5 Angang Steel 5.53 0.06 ***** Anhui Conch 24.50 0.10 ***** Anhuiexpresswa 4.86 0.10 83 Asia Satellite 18.00 -0.40 4 Asm Pacific 98.90 -0.05 614 Bank Of E Asia 30.50
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    • 260 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 53.5 32.5 AVJennings A36cd unch 12 36 36 34.5 37.5 3.6 9.7 2.9 93.7 46 25.5 Genting HK US$ US36 -0.5 ***** 36.5 34 35.5 36 2370.4
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    • 186 25 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 11 3 0 0 0 4 11 3 Manufacturing 79 94 28 8 19 8 87 113 36 Commerce 22 33 24 2 9 6 24 42 30 Tpt/Stor/Comms 17 20 9
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    • 1017 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 109.5 ABF SG Bond ETF 118 unch 71 118 118 117.1 118.5 538.6 103 101 CIMB APAC Div 100US$ US101 13 103 101 100.1 101
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    • 123 25 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 101,425 101,425 389,512 389,512 Manufacturing 1,829,962 238,966 2,068,928 1,817,273 5,787 1,823,060 Commerce 710,881 36,379 747,260 769,004 2,713 771,717 Tpt/Stor/Comms 733,518 139,838 873,356 922,938 26,623 949,561 Finance 80,873 90 80,963 716,321 13 716,334 Construction 567,853 295,569
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  • Page 25 Advertisements
    • 26 25 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. The Business times
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  • FINANCE & COMMODITIES
    • 373 26 In local curr In S$ In US$ dy yr dy yr dy yr Mar 9 Index Change Change Change Change Change Change World Preliminary 907.1 0.6 9.3 0.2 5.7 0.2 9.3 EAFE Preliminary 748.1 0.7 9.7 -0.2 5.7 -0.2 9.3 Europe Preliminary 1108.1 0.4 8.0
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    • 76 26 CRUDE OIL PRODUCTS Mar 8 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 125.86 3.26 WTI (Near Mth) 106.99 0.64 Dubai (1-Mth F) 121.47 1.94 Tapis blend 134.13 2.11 Minas 133.93 2.11 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 119.78 1.67 Jet Kerosene 135.25 1.45 US$/barrel OpecOil Basket
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    • 99 26 As on 09 March 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METALS GOLD FUT APR2012 1712.80 1677.80 1711.60 911 CURRENCY AUD-USD FUT MAR2012 1.0649 1.0617 1.0572 29 EUR-USD FUT MAR2012 1.3272 1.3098 1.3116 7875 BASE METAL COPPER FUT MAY2012 8532 8374 8508 1668
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    • 165 26 Mar 9 SICOM RUBBER Futures (Closing prices) RSS 3(US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Apr 12 397.0 397.0 397.3 4 189 May 12 398.1 398.0 399.7 6 199 Jun 12 402.0 402.0 402.3 20 215 Jul 12 406.2 406.0 406.0 49 168 Aug
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    • 65 26 Mar 9 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2197.50 2165.25 3 months 2240.00 2206.00 Copper, Grade A(US$/tonne) Cash 8502.00 8331.00 3 months 8500.00 8330.00 Lead(US$/tonne) Cash 2093.25 2095.75 3 months 2120.00 2124.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
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    • 107 26 Mar 9 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Mar 12 1331.75 1332.50 1349.50 1325.00 May 12 1337.75 1338.50 1355.50 1330.25 Jul 12 1344.75 1344.75 1361.50 1337.25 Aug 12 1337.50 1336.50 1351.75 1330.25 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Mar 12 53.95
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    • 81 26 Mar 9 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****T 07-Jun-12 0.32 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-14 100.02 5-Year N*****0Z 2.375 01-Apr-17 108.63 108.78 108.73 BQ*****T 07-Jun-12
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    • 448 26 Mar 9 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar12 99.5375 0 2447 Jun12 99.5500 0 604 Sep12 99.5200 0 213 Dec12 99.4850 0 1393 EUROYEN TIBOR FUTURES Mar12 99.6650 0 2098 Jun12 99.6625 99.6625 99.6625 99.6650 0 1995 Sep12 99.6650 1 684 Dec12 99.6650 0
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    • 80 26 Mar 9 COCOA (£/tonne) Close Prev High/Low Mar 12 1520 1504 1528/1492 May 12 1556 1540 1563/1526 Jul 12 1570 1552 1577/1534 Sep 12 1577 1556 1583/1542 COFFEE(US$/tonne) Close Prev High/Low Mar 12 2050 2088 2095/2049 May 12 2050 2088 2099/2046 Jul 12 2011 2040 2045/1994 Sep 12 2018
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    • 1420 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 2 1 150 262 21.00 26 Baker Technology Ltd W*****6 3 -1 109 1 32 17 10.00 8 Best World Intl Ltd W*****5 2 1 30 74 9.20
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    • 470 26 Mar 9 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.053 6.707 0.804 8.244 53.092 97.060 0.868 11.879 3.200 1.290 96.438 45.254 1.333 7.987 0.969 31.347 32.474 0.673 1.063 Canada 0.950 6.371
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    • 58 26 Mar 9 (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$) 0.***** 3 mths 0.***** 6 mths 9 mths 0.***** SWAP Mid rates (S$) 0.***** SWAP Mid rates
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    • 136 26 Mar 9 GOLD(US$/oz) Mar 09 Mar 08 Hong Kong 1706.00 1702.00 Mar 08 Mar 08 Mar 09 London 1694.22 1709.59 1695.05 1710.40 Source: Thomson Reuters CAST BAR Mar 09 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 165 68 5gm 467 342 10gm
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    • 57 26 Mar 9 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Mar 12 3320.0 3290.0 3332.0 3320.0 95 1286 Apr 12 3340.0 3310.0 3372.0 3339.0 941 ***** May 12 3324.0 3303.0 3368.0 3320.0 ***** ***** Jun 12 3310.0 3293.0
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    • 24 26 Mar 9 Open High Sett STI Mar 2957 SIMSCI Mar 343.5 345 341.4 Taiwan Mar 282.6 284.8 284.0 Source: SGX Derivatives
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    • 154 26 Mar 9 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3321 1.3336 1.0626 1.0630 Canadian dollar 1.2652 1.2670 1.0093 1.0099 Euro 1.6575 1.6591 1.3222 1.3224 NZ dollar 1.0328 1.0340 0.8239 0.8242 Sterling pound 1.9804 1.9823 1.5798 1.5800
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    • 22 26 Mar 9 S$ Bid Offer 1-month 1.2536 1.2546 2-months 1.2536 1.2546 3-months 1.2534 1.2545 6-months 1.2524 1.2536 Source: OCBC
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    • 121 26 As at 9am Mar 9 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.362 1.298 Can dollar 1.286 1.237 Euro 1.692 1.627 Sterling pound 2.018 1.941 NZ dollar 1.06 1.01 US dollar 1.27 1.222 Local dollars to 100 units of foreign
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    • 154 26 Mar 9 $S Offer Bid 0vernight 0.01 par 1-month 5/16 3/16 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.01 US$ Offer Bid 7 days 0.25 0.15 1 month 0.40 0.20 2 months 0.50 0.30 3 months 0.60 0.40 6 months 0.90 0.70 9 months 1.05 0.85 12
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  • 3828 27 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
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  • Page 27 Advertisements
    • 47 27 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
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    • 14 27 TO ADVERTISE IN m The Business Times Shipping times CALL JOE WONG AT *****327
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  • Page 28 Advertisements
    • 104 28 >^'=-{>},]~~{@\*.@/+;{*_-.%&}(& r i urgently n< R ded by shippers n they find youi re in the Shippii ADVERTISI JOE WONG AT 9620 Announce Your Corporate Development y Come publicise your Project Completion, Ship Christenings Delivery of Newbuilds, Vessel Conversion Refurbishment, Award Wins Certifications, Corporate Image, Corporate Developments and Company Anniversaries.
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  • Page 29 Advertisements
    • 2231 29 Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices FRAGRANCE GROUP LIMITED (Incorporated in the Republic of Singapore) Company Registration No. *****6656M NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Fragrance Group Limited will be held on 28 March 2012 at 9.00 a.m. at 168 Changi
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  • BizIT THE USINESS OF INFOCOMM TECHNOLOGY
    • 792 29  -  Local start-up Gushcloud offers a new way to reach customers, reports JOSHUA TAN reportsJOSHUA reportsJOSHUA TAN I NFORMATION sharing through the Internet is set to take on an entirely new dimension, with online social marketing looking to mobilise people in a completely different way. Gushcloud,
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    • 372 29 Reuters [SAO PAULO] Brazil’s Justice Ministry is pressing Google Inc for details about how it handles users’ personal information under its new privacy policy, potentially opening a new legal front for the company, already under fire from European regulators. The Brazilian ministry said that
      Reuters  -  372 words
    • 1151 30  -  It has identified four thrust areas to take it to the next level, reportsAMIT ROY CHOUDHURY reportsAMIT AMIT ROY CHOUDHURY ST Electronics has chalked out a strategy which it hopes will help it to become one of the leading ICT (Infocomm Technology)
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    • 437 30  -  The show brought in $74.5m worth of sales By AMANDA EBER AMID the masses of people, electronics and flyers at the IT Show 2012 last weekend, popular South Korean group Girls’ Generation managed to make their presence felt at the event as well. Although
      ARTHUR LEE  -  437 words
    • 819 30  -  By JOSHUA TAN DECIDING where to go at night could not be simpler, with a new mobile app designed to revolutionise the social nightlife experience. Goinout is a free mobile app which creates a social nightlife network aimed at giving users real-time
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