The Business Times, 19 March 2012

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Total Pages: 30
1 30 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 120/08/2011 Monday, March 19, 2012
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  • 649 1  -  It cites Indonesia as a key market, aims to focus on clients with cross-border business By JAMIE LEE [SINGAPORE] JP Morgan’s global corporate banking team is eyeing growth from South-east Asia, with MNCs shifting their attention to the region and as corporates within
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  • MARKETS DIGEST
    • 57 1 Weekly Change ST INDEX 3,010.68 +47.53 KL COMP 1,571.40 -7.60 NIKKEI 225 10,129.83 +200.09 HANG SENG 21,317.85 +231.85 SET INDEX 1,189.56 +30.85 JAKARTA COMP 4,028.54 +37.00 MANILA COMP 5,145.89 +165.18 SEOUL COMP 2,034.44 +16.14 SHENZHEN B 675.26 -2.84 MUMBAI IND 17,466.20 -37.04 DOW 13,232.62 +310.60 NASDAQ 3,055.26 +66.92 S&P
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    • 18 1 SINGAPORE 5.38 MALAYSIA 5.55 HONG KONG 5.00 INDONESIA 0.50 TAIWAN 5.035 JAPAN 1.475 KOREA Source: BLOOMBERG
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    • 49 1 us$ s$ US$ (S$ per US$) 1.261 (US$/S$ per 1.573 1.984 EURO (US$/S$/E) 1.308 1.650 Foreign currency per US$ S$ YEN 83.50 66.20 RM 3.053 2.420 HK$ 7.763 6.154 BAHT 30.71 24.35 RUPIAH 9,155 7,258 RENMINBI 6.323 5.013 INDIAN RUPEE 50.22 39.81 A$ 0.950 0.753 NZ$ 1.220 0.967
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  • 855 1  -  His NYT letter may only affect bank’s recruitment at most By ROB CURRAN GREG Smith’s resignation letter last week is one of the most widely read epistolary polemics since Emile Zola’s “J’accuse” in the late 19th century. But the letter looks petty and obvious
    AP  -  855 words
  • Page 1 Advertisements
    • 111 1 DINING OUT Vegetarian fare that hits all the right spots PAGE 23 BT ONLINE BT print subscribers get free access to BT Online at www.businesstimes.com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838. 8 *****1 *****4 H W HARRY WINSTON HARRY WINSTON THE PREMIER COLLECTION® ION ORCHARD 2 ORCHARD TURN
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    • 67 1 CUSTOMER SATISFACTION Service just one part of the equation PAGE 10 WALL STREET INSIGHT Financials driving market to new peaks page 2 Looking across the Causeway Is it now more attractive for Singapore businesses, including SMEs, to invest and set up operations in the Iskandar region and southern Johor, or
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    • 7 1 BizIT Connecting with consumers online PAGE 30
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  • TOP STORIES
    • 579 2 JP Morgan counts on S-EA to grow JP MORGAN’S global corporate banking team is eyeing growth from South-east Asia, with MNCs shifting their attention to the region and as corporates in the region continue to expand in their domestic markets, senior executives told BT. Against this backdrop, the
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    • 343 2  -  Steps to cut foreign worker inflow get less support: survey By MINDY TAN [SINGAPORE] There is strong ground support for Budget 2012’s focus on building an inclusive society. In particular, 91.3 per cent of respondents said they were supportive of the initiatives relating to the
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    • 386 2  -  By JASMINE NG [SINGAPORE] Singapore is one of the best places in the world to be creative, according to one of the Republic’s big names in advertising, Tham Khai Meng. This is because Singapore has plenty of safety nets to
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    • 1046 2  -  Growth clipped as tightened capital rules force banks to save on margins By JAMIE LEE [SINGAPORE] While regulation has propelled global clearing houses into the lucrative over-the-counter (OTC) derivatives market, it has also clipped some of the growth in this area,
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    • 867 2  -  Fed stress test, less eurozone gloom lift cloud over sector WALL STREET INSIGHT By ROB CURRAN AN unlikely leader is driving the US stock market toward record heights as the economy and the European financial system continue to improve. At around 13,250 and 1,400,
      AFP  -  867 words
    • 604 3 Airlines warn govt time running out to tackle likely surge in traffic and its impact Reuters [LONDON] The heads of four leading airlines have warned the British government there could be chaos at London’s airports during this summer’s Olympic Games, which would cause
      Reuters; REUTERS  -  604 words
    • 723 3 The banker and the cabbie when two worlds collide Reuters [NEW YORK] At the very moment William Bryan Jennings should have been climbing into bed at his sumptuous Connecticut mansion, the Morgan Stanley head of fixed income for North America was sprinting through back roads a mile away. He was
      Reuters  -  723 words

  • Page 3 Advertisements
    • 463 3 If travel comes with surprises, to you they will only be pleasant. As calm is always your companion and luxury plans your trip. Even the farthest destinations arrive effortlessly on a platter. For when you travel, there's a card that looks after everything for you. HSBC Visa Infinite. For those
      463 words

  • SINGAPORE MARKETS
    • 565 4  -  STOCKS VEN SREENIVASAN Senior Correspondent EVEN as the debate rages about whether equity markets are entering a bull phase, the irrefutable facts on the ground show that confidence levels have rebounded to their highest levels in nearly six months. On Wall Street, the broad S&P
      565 words
    • 489 4 COMMODITIES Reuters [NEW YORK] Oil prices jumped on Friday by the most in two weeks on supply worries, while soybeans hit a six-month high on crop worries and most other commodities rose on extended weakness in the US dollar. Despite
      Reuters  -  489 words
    • 1661 4 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 11.29 1.42 1.11 Amtek Engg Ltd 2.40 2.40 5 0.08 7.16 0.87 0.74 ARA Asset Mgt Ltd 1.56
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    • 4 4 WEEKLY
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    • 66 4 Mar 16 VALUE CLOSE BT OB/OS 159.00 +1.00 BT CADI -*****.00 +127.0 BT 10-day MA -*****.00 +16.00 FTSE ST Mid Cap 699.77 +4.34 FTSE ST Small Cap 470.96 +7.55 FTSE ST All Share 729.82 -1.37 FTSE ST China Top 231.34 +0.46 FTSE ST China 256.05 -1.02 FTSE
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    • 60 4 VOLUME MDR 435,789,000 Golden Agri 341,385,000 Genting SP 265,181,000 UPP 261,771,000 Ezra 258,657,000 MDR W*****5 223,054,000 HPH Trust US$ 177,245,000 Noble Grp 162,560,000 Yoma 137,962,000 Thai Beverage 127,070,000 VALUE($) Genting SP 433,291,835 Wilmar 320,935,897 Ezra 287,706,588 DBS Grp 263,858,757 Golden Agri 252,259,540 SingTel 239,876,418 Noble Grp 229,581,995
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    • 634 4 CURRENCIES Reuters [NEW YORK] The US dollar slumped broadly on Friday, halting a rally that had taken it to an 11-month high against the yen and a onemonth peak versus the euro, but a dearth of significant economic data in the near term could
      Reuters  -  634 words
    • 114 4 BY CENTS CLOSE UP IS S&P500 ***** 720.2 4.2 Lyxor Indonesia10US$ 9410 271.2 2.3 DBXT AUD Bonds 5AU$ ***** 232.3 1.0 DBXT E50 10US$ 3801 218.2 4.8 DBXT Nifty 10US$ ***** 191.7 1.4 DBXT MSAsExJp 10US$ 3225 157.7 4.0 DairyFarm 1090 88.3 6.9 UOB 1855 83.0 4.7 Pru 500US$
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    • 125 4 BY CENTS CLOSE DOWN GLD 10US$ ***** -556.2 -2.7 DBXT USDIGInfl 5US$ ***** -454.1 -1.3 DBXT iBoxxUSTr 5US$ ***** -354.4 -1.4 DBXT S&P Short 10US$ 3709 -124.9 -2.6 DBXT iBoxxSing 5SG$ ***** -104.0 -0.8 JMH 5120 -84.5 -1.3 JSH 3170 -64.3 -1.6 DBXT CSI300 10US$ 880 -30.3 -2.7 DBXT
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    • 5 4 WEEKLY
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    • 1621 6  -  TEH HOOI LING Senior Correspondent ARE we in the bull market already? The Straits Times Index (STI) has chalked up positive gains in nine out of the last 11 weeks. Since October last year, it has put on 14 per cent. Yet, valuation still
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  • COMPANY NEWS
    • 691 5  -  Focus on hybrids of stronger names with high credit ratings: Bank of Singapore By MINDY TAN WITH the corporate perpetual bond market within the emerging-market (EM) bond space growing substantially, investors need to be aware of the risks associated with hybrid perpetual bonds, says
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    • 180 5 SINGAPORE’S newest airline, medium- to long-haul no-frills carrier Scoot, took ownership of its first aircraft last Saturday. The 777-200 purchased from parent company Singapore Airlines but now bearing Scoot’s registration 9V-OTA will be joined by a second aircraft on March 30, after which both will
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    • 316 5 COMPANY MEETING PLACE DATE TIME Ascendas Reit E Level 4 Auditorium, 87 Science Park Drive, Science Hub, Singapore *****0 22-Mar 10.00am Top Global A 10 Tuas West Drive, Raffles Marina, Singapore *****4 22-Mar 10.00am Fragrance Grp E 168 Changi Road #05-01 (Attic Level) Fragrance Building Singapore *****0 23-Mar
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    • 304 5 Mar 16 BANKS Agricultural Bank Of China 5.5 Agricultural Bank Of China 5.5 Banco Bilbao Vizcaya 6 Arab Bank PLC 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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    • 1743 7  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Limited DIRECTORS remained active last week with 16 companies recording 34 purchases worth $3.48 million versus four firms with seven disposals worth $14.28 million. The number on the buying side was consistent
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  • Page 5 Advertisements
    • 329 5 With effect from 16th March 2012, RHT Law LLP will be known as RHTLaw Taylor Wessing LLP International Capabilities Delivered Locally RHTLaw Taylor Wessing is now a member of Taylor Wessing, an international group of law practices separately registered in their individual jurisdictions, including United Kingdom, Germany, France, Belgium and
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  • Page 7 Advertisements
    • 110 7 Trade beyond borders That’s what participants in international commerce can do when they’re smart about managing risk. And smart managers work with CME Group, the world’s leading derivatives marketplace. Companies doing business around the world come to us to manage virtually every kind of risk. Changing currency valuations, energy costs,
      110 words

  • SINGAPORE NEWS
    • 1047 8  -  Authorities not blindly clamping down on hiring of foreign workers: BCA CEO By MINDY TAN IT IS a bitter pill, but one better taken earlier than later, sums up John Keung, chief executive of the Building and Construction Authority (BCA), on the crunch the construction industry
      FILE PHOTO  -  1,047 words
    • 1478 8 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 8 Advertisements
    • 201 8 r NT riNF WITH THE BRIGHTEST STARS IN CORPORATE EXCELLENCE Nominations are now open for deserving individuals and companies to shine at the 7th annual Singapore Corporate Awards. So if you have shown exemplary standards in corporate governance, set new benchmarks in corporate disclosure standards, and adhered to a commendable
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 1421 9  -  Thinking of investing in gold? Analysts highlight some issues that should be considered before you take the plunge. By TEH SHI NING By TEH SHI NING COME October, investment-grade gold will effectively be 7 per cent cheaper as Singapore has decided that
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    • 1016 9  -  Benjamin Loh’s passion drove him to start up a training and consultancy outfit, reports LIM WEI SHENG reportsLIM STARTING YOUNG LIM WEI SHENG THE dream of banking on a stroke of inspiration to achieve spectacular success is one which sits well with many youth
      ARTHUR LEE  -  1,016 words
  • Page 9 Advertisements
    • 162 9 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
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  • CUSTOMER SATISFACTION INDEX OF SINGAPORE
    • 1071 10  -  Other factors play a role in shaping the customer’s overall experience.TEH NINGreports TEH SHI NING ASK a traditional business owner how he maintains “customer satisfaction” and he may speak of training staff to serve with a smile or round-the-clock customer service
      Source: Institute of Service Excellence at SMU  -  1,071 words
    • 545 10  -  Local patients, however, are more dissatisfied By NISHA RAMCHANDANI PRIVATE hospitals in the 2011 Customer Satisfaction Index of Singapore (CSISG) earned a higher satisfaction score from tourist respondents, which bodes well for Singapore’s medical tourism sector. In contrast, locals were more dissatisfied. The
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    • 720 10  -  By NISHA RAMCHANDANI CONTINUOUSLY improving product and service quality as well as managing expectations can help raise satisfaction levels of unsubsidised patients at restructured hospitals. One of the key findings from the latest Customer Satisfaction Index of Singapore (CSISG), conducted by the
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    • 1640 11  -  Seven out of nine economic sectors showed improvements last year, reportsLYNN LYNN KAN NEVER mind the economic doomsday that engulfed most part of the developed world last year. 2011 marked the year customers waltzed out of Singaporean stores feeling more charmed and attended to than
      Source: Institute of Service Excellence at SMU  -  1,640 words
    • 631 11  -  By LYNN KAN AFTER a four-year slog, local banks can finally pat themselves on the back. The year 2011 marked the first time customers gave the three local titans DBS, OCBC Bank and UOB the nod that they were doing a better job
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  • Page 10 Advertisements
    • 155 10 CUSTOMER SATISFACTION INDEX OF SINGAPORE 2011 EXPECTATIONS COLOUR PERCEPTIONS SMU SINGAPORE MANAGEMENT UNIVERSITY Patients of Restructured Hospitals 70 +5.0 65 60 to 55 Q. TO o c o 0 0) Q. >< LU 1 <Z 3 a +2.5 -2.5 -5.0 2010 2011 2010 2011 There is a widening year-on-year disparity
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  • Page 11 Advertisements
    • 59 11 c SMU SINGAPORE MANAGEMENT UNIVERSITY INSTITUTE OF SERVICE EXCELLENCE SINGAPORE MANACFMFNT UNIVERSITY A quarterly series brought to you by the Institute of Service Excellence at Singapore Management University (ISES). Featuring findings from the Customer Satisfaction Index of Singapore, it also reveals insights on leadership and strategy from industry leaders, particularly
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  • VIEWS FROM THE TOP
    • 2181 12 THIS WEEK’S TOPIC Is it now more attractive for Singapore businesses, including SMEs, to invest and set up operations in the Iskandar region and southern Johor, or does more need to be done? What areas of business would you recommend most strongly? Tan Tiong Cheng Chairman
      FILE PHOTOS  -  2,181 words

  • Page 13 Advertisements
    • 95 13 I m I 8 wm In ■,> mm wm. i n»' S u m t. y 1 7c s. K Ki i a U f I i STT .r-i ar I |C3Sg< I ST 2 V J//A V9 > a \i OVER A CENTURY OF OPENING MARKETS AND STANDING BY
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  • ECONOMY WATCH
    • 624 14 MD Lagarde says cause for concern comes from high debts and oil prices Reuters [BEIJING] The global economy has stepped back from the brink of danger and signs of stabilisation are emerging from the eurozone and the US, but high debt levels in developed
      Reuters  -  624 words
    • 477 14 AFP [LONDON] Britain is set to unveil an annual budget this week that is likely to build on the coalition government’s deficit-slashing austerity strategy, while also seeking to grow a reces-sion-threatened economy. Chancellor of the Exchequer George Osborne will present his 2012-13
      AFP  -  477 words
    • 451 14 AFP [PARIS] A call for a “Buy European Act” by French President Nicolas Sarkozy, based on a US law that obliges use of domestically made products in public contracts, could face legal and political difficulties, economists warn. The proposal, made in a speech
      AFP  -  451 words
  • Page 14 Advertisements
    • 91 14 .COM.SG let money work for you Always wanted to make your money work harder but not sure where to start? With www.btinvest.com.sg, you can now learn how to grow your wealth through stocks, bonds and property investments. Brought to you by The Business Times, this one-stop portal also gives advice
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  • Page 15 Advertisements
    • 5493 15 Zhong Yong Holdings Ltd (Incorporated in the British Virgin Islands) (Company Registration No.: *****00) Meiban Group Ltd (Incorporated in the Republic of Singapore) (Company Registration No.: *****2811M) JOINT ANNOUNCEMENT PROPOSED ACQUISITION BY ZHONG YONG HOLDINGS LTD OF ALL THE ISSUED AND PAID-UP ORDINARY SHARES IN THE CAPITAL OF MEIBAN GROUP
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  • MALAYSIA/INDONESIA
    • 401 16 AFP [JAKARTA] Indonesia has accused five Chevron employees of being involved in a scam to set up a fictitious green project that lost the state some US$270 million, a charge denied by the US oil giant. “The Attorney-General’s Office (AGO) has named seven
      AFP  -  401 words
    • 1716 16 VOL Mar 16 RM +/-(‘000) VOL Advance Synerg 0.20 0.01 6170 Adventa Bhd 1.55 -0.01 42 Ae Multi Hldgs 0.30 -0.01 295 Affin Holdings 3.10 0.03 554 Ahmad Zaki Res 0.93 unch 217 Abric Bhd Airasia Bhd 3.58 unch ***** Alliance Finan 3.85 -0.01 1038 Aluminium Co 0.84
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    • 569 16  -  BN government being held to ransom MALAYSIA INSIGHT S JAYASANKARAN KL Correspondent MALAYSIA is getting too politicised for its own good. First, the Barisan Nasional (BN) government backed away from a relatively massive pay hike for its top civil servants after the umbrella union for government
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  • Page 16 Advertisements
    • 2131 16 ExcElpoint tEchnology ltd (Company Registration No. *****3280C) (Incorporated in the Republic of Singapore with limited liability) NOTICE OF ELEVENTH ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Eleventh Annual General Meeting of Excelpoint Technology Ltd. (“the Company”) will be held at Grand Mercure Roxy Singapore, 50 East Coast Road,
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  • GREATER CHINA/INDIA
    • 693 17 Measures against speculators gaining traction; downtrend likely to continue Reuters [BEIJING] China’s home prices fell 0.1 per cent in February from January for a fifth consecutive month and are widely expected to continue declining, underscoring the success of Beijing’s efforts to
      Reuters  -  693 words
    • 726 17 Beijing appears to be surprised by intensity of contest AFP [HONG KONG] This week’s leadership election has riveted Hong Kong with all the political rough-and-tumble that is typical of a thriving democracy. There’s only one thing missing the voters. Ordinary Hong Kongers will
      AFP  -  726 words
    • 572 17 Bloomberg [NEW DELHI] The Reserve Bank of India’s (RBI) scope for a series of interest-rate cuts to bolster a slowing economy may be hampered by inflation risks from a budget deficit projected to exceed 5 per cent for a second year.
      Bloomberg  -  572 words
  • Page 17 Advertisements
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    • 144 17 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
      144 words
    • 324 17 B6AT3 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF YONG SHENG GOLDSMITH PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) (Company No: *****0887Z) FINAL MEETING NOTICE IS HEREBY GIVEN, pursuant to Section 308 of the Companies Act, Cap. 50, that the FINAL MEETING of the
      324 words
    • 520 17 IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF HONG YU INVESTMENT PTE LTD (In Members’ Voluntary Liquidation) (Co. Reg No. *****6228H) NOTICE OF RESOLUTION At an Extraordinary General Meeting of the member of the abovenamed Company duly convened and held pursuant to Section 179(6)
      520 words
    • 417 17 IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF YHK REALTY PTE. LTD. (In Members’ Voluntary Liquidation) (Co. Reg No. *****5151K) NOTICE OF RESOLUTION At an Extraordinary General Meeting of the member of the abovenamed Company duly convened and held pursuant to Section 179(6) of
      417 words

  • WORLD
    • 651 18 Buoyant market, robust economic growth draw major investors like KKR NYT [DUBAI] For private equity players hungry for deals, analysts say the Turkish market is piquing interest as political uncertainty in the Middle East and the eurozone’s debt problems encourage investors to explore
      NYT; BLOOMBERG  -  651 words
    • 168 18 AFP [NEW YORK] New York police arrested protesters celebrating the six-month anniversary of Occupy Wall Street by massing on a square near the stock exchange over the weekend. Chaotic scenes unfolded at Zuccotti Park in Manhattan’s financial district overnight on Saturday-Sunday when officers
      AFP  -  168 words
    • 566 18 AFP [COLOMBO] Sri Lanka’s president has begun his second term in office, vowing an economic miracle after decades of conflict but the post-war boom is already fraying, putting his record on economic management to the test. Mahinda Rajapakse launched his
      AFP  -  566 words
    • 492 18 Movement’s leader wants to take effort outside the country AP [KATERINI, Greece] The leader of a project that helps Greek farmers sell their food products directly to customers at bargain prices hopes to build a Europe-wide network that would bypass middlemen while
      AP  -  492 words
    • 713 18 Bloomberg [NEW YORK] James Murdoch, News Corp’s deputy chief operating officer, will leave the board of Sotheby’s auction house, following demands that he resign over his role in a UK phonehacking scandal. Mr Murdoch, 39, this year has already resigned from the board of
      Bloomberg; REUTERS  -  713 words
    • 945 19 Digital transactions cut graft, robberies but computerised fraud cases rising AP [STOCKHOLM] Sweden was the first European country to introduce bank notes in 1661. Now it’s come farther than most on the path toward getting rid of them. “I can’t see why
      AP  -  945 words
    • 663 19 He faces tough task of turning around the world’s oldest bank Reuters [MILAN] Alessandro Profumo is back. After spending 18 months on the banking industry’s sidelines, the former head of UniCredit is set to become the chairman of Banca Monte dei Paschi di
      Reuters; BLOOMBERG  -  663 words
    • 492 19 AP [ADELAIDE] Ian Thorpe knew the instant he’d finished his 100-metre freestyle heat that he wouldn’t be competing at the London Olympics. He lingered in the outside lane until the swimmers in the next race had started, staring at his time on
      AP; REUTERS  -  492 words
    • 411 19 AFP [HARARE] Zimbabwe’s forcing of foreign firms to hand over a 51 per cent stake will scare away much needed investment, with no clarity on how the cashstrapped state will fund its big-stick approach, analysts say. The government’s assurances that its “indigenisation” policy is
      AFP  -  411 words
    • 390 19 Bloomberg DUBAI D u b a i s state-owned companies should be able to raise new loans to help repay about US$10 billion of debt due this year, the head of Standard Chartered plc’s unit in the United Arab Emirates said. The issue of
      Bloomberg  -  390 words
    • 1107 20 A village of 149 residents has become the unlikely scene of high-level meetings about the future of Europe NYT [MESEBERG, Germany] Under Communism, the lakeside 18th-century Baroque palace in this village in Brandenburg state housed nine families upstairs and a branch of the East German
      NYT; REUTERS  -  1,107 words
    • 907 20 NYT [BRUSSELS] Having failed to secure the presidency of the European Central Bank last year, Germany may get a chance to name the next “Mr Euro”. The post of president of the 17 eurozone finance ministers, known as the Eurogroup, falls vacant at
      NYT; AP  -  907 words
    • 490 20 However it is still too early to remove central bank support Reuters [VIENNA] The European Central Bank (ECB) will hold back after showering the banking system with cheap money and is now looking at ways to retreat from crisis mode
      Reuters  -  490 words
    • 536 20 AP [BERLIN] Germany will speed up its plans to reduce new borrowing as it works to balance its budget by 2016, an official said. The federal government will reduce its new borrowing between 2013 and 2016 by about 27 billion euros (S$44.5 billion)
      AP  -  536 words
    • 355 21 Series of perceived snubs from New Delhi triggered calls to cut aid AFP [LONDON] Britain is winding down its aid programme to India, International Development Secretary Andrew Mitchell told The Sunday Times newspaper. Britain has spent £1 billion (S$2 billion) on aid pro-
      AFP  -  355 words
    • 604 21 He’s the 1st head of state from former communist east AFP [BERLIN] Activist pastor Joachim Gauck was elected German president by an overwhelming majority yesterday, marking the first time a candidate from the former communist east will be head of state. Mr Gauck,
      AFP; AP  -  604 words
    • 567 21 But the rallies have waned in the days since Putin’s win AFP [MOSCOW] Riot police detained dozens of protesters yesterday who picketed Moscow’s iconic television tower after footage purporting to show people being paid to rally against Vladimir Putin was aired nationally. An
      AFP; REUTERS  -  567 words
    • 483 21 Reuters [BAGHDAD] Iraq has approved a plan to expand its oil export routes by adding capacity from its northern fields and building a pipeline to ship oil from southern fields to Ceyhan in Turkey, a government spokesman said. The contingency plan was set by
      Reuters  -  483 words
    • 437 21 AP [MELBOURNE] McLaren driver Jenson Button won the Formula One seasonopening Australian Grand Prix yesterday, taking the chequered flag at Albert Park for the third time in four years and signalling a tight season ahead. Button won by 2.1 seconds from reigning world
      AP  -  437 words




  • AVIATION/SHIPPING
    • 720 22 New law makes it easier to replace federal officers with private contractors NYT [WASHINGTON] A new US law makes it easier for airports to replace federal screeners with private contractors, and several airports, after years of passenger complaints, are lining up to make
      NYT; REUTERS  -  720 words
    • 251 22 SGX '000 Mar 16 S$ +/-Vol CH Offshore 0.38 -0.02 2494 Chuan Hup Hldg 0.24 0.01 306 Cosco Corp 1.21 0.02 ***** s$ Ezra Hldgs 1.12 0.01 ***** First Ship Lea 0.23 unch 644 Freight Links 0.06 unch 113 Grand BanksD unch unch 0 Jaya Hold Ltd 0.57
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    • 341 22 Reuters [FRANKFURT] Germany’s Air Berlin, part-owned by Abu Dhabi-based carrier Etihad, sees cost cuts improving its performance this year after soaring fuel prices and a new air travel tax led to a bigger loss for 2011. “Air Berlin is now able, through major
      Reuters  -  341 words
    • 501 22 Reuters [WASHINGTON] The US Navy is nearly finished with a review that will recommend a total fleet of around 300 ships, down from the current target of 313 ships, the Navy’s top uniformed officer said. Chief of Naval Operations Admiral Jonathan Greenert said the Navy
      Reuters; REUTERS  -  501 words
    • 386 22 Panamax rates boosted by higher grain shipments Reuters [LONDON] The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry commodities, rose for the 15th straight day last Wednesday as grain shipments boosted panamax rates. The overall index, which gauges
      Reuters  -  386 words
    • 345 22 Bloomberg [LONDON] Scrapping of dry-bulk ships this year may stay near the 22 million deadweight tonnes demolished in 2011, the Baltic and International Maritime Council said. Recycling may come to 20 million tonnes in 2012, Peter Sand, an analyst at the Bagsvaerd,
      Bloomberg  -  345 words
  • Page 22 Miscellaneous
    • 310 22 CRYPTIC CROSSWORD Across 1 Paper clip? (5,7) 9 Big guns getting sick boarding vessel (9) 10 Play short in front of area (5) 11 The type of deposit made by sailors? (6) 12 Financial stake in pursuit (8) 13 Soldiers with wind flinch (6) 15 Pit dog rarely outside (8)
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  • DINING OUT
    • 648 23  -  By Jaime Ee NEW RESTAURANT Beets 22 Dempsey Road Tel: 6475-6869 MOST vegetarian restaurants in Singapore tend to share some similar characteristics: healthy names with words like “real”, “whole”, “green” or “earth” in them, staffed by people with a kind of Zen-like
      PHOTOS BY YEN MENG JIIN  -  648 words
    • 712 23  -  By Debbie Yong NEW RESTAURANT Bistro Du Vin 56 Zion Road Tel: 6836-6313 LONG tainted in Singapore as snooty food involving barely-there portions and more cutlery than is necessary, French cuisine is currently undergoing a renaissance after its recent rebranding as
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  • Page 23 Advertisements
    • 129 23 BT Wine, Dine Hospitality Page save more than For advertisement bookings and sales enquiries, please contact: Lawrence Chang 9229 4919 Wendy Ho 9479 0644 Lina Tan 9620 1355 Alisa Tan 9154 8381 Francis Yeo 9620 1356 Colin Ong 9231 1280 ghlights WEEK ENDS. Indulgence begins. Laze, graze, forget week days.
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    • 25 23 Senior executives with expertise management skills hardest to find in Asia Pacific to find in Asia Pacific To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • Page 23 Miscellaneous

  • SINGAPORE STOCKS
    • 1652 24 Week ended: Mar 16 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 Last Vol Week Last Quote Div GrYld 112.5 92.5 AIMSAMPIReit 110.5 +3 3917 111 106.5 110.5 111 1.8 11.2 490.5 M
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    • 306 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 $mil Last 1 0.2 t Advanced System 0.4 unch 3743 0.5 0.4 0.4 0.5 6.6 Week Last Quote Div Gr Yld Net M Cap High
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    • 115 25 Stock name Close Change CapMallsAsia 1.640 +0.010 CapitaLand 3.070 +0.010 CapitaMall 1.745 -0.045 CityDev 11.290 +0.070 ComfortDelGro 1.515 +0.015 DBS Grp 14.310 -0.060 F&N 6.680 -0.070 GLP 2.190 -0.020 Genting SP 1.650 +0.010 Golden Agri 0.745 Stock name Close Change HK Land 5.650 -0.110 JMH 51.200
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    • 2272 25 Transaction date: Mar 16 HONG KONG Vol HK$ +/-'000 Aeon Credit 6.00 unch 116 Aeon Stores 23.00 -0.40 124 Angang Steel 5.49 0.07 7350 Anhui Conch 23.20 -0.05 9376 Anhuiexpresswa 4.90 0.11 1673 Asia Satellite 19.00 unch 19 Asm Pacific 104.80 0.70 211 Bank Of E Asia 30.20
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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 $mil 53.5 32.5 AVJennings A36cd unch 3 36 36 34.5 37.5 3.6 9.7 2.9 93.7 46 25.5 Genting HK US$ US36.5 +0.5 ***** 37 35.5 36.5 37 2403.3
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    • 186 25 MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 13 2 2 0 0 0 13 2 2 Manufacturing 103 62 28 14 14 9 117 76 37 Commerce 43 15 18 6 7 2 49 22 20 Tpt/Stor/Comms 26 11 8
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    • 1043 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 $mil 130 109.5 ABF SG Bond ETF 116.8 -1.2 26 118 116.6 116.8 117.5 533.2 103 101 CIMB APAC Div 100US$ US103 +2 296 103 101 102
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    • 123 25 TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 82,311 82,311 260,251 260,251 Manufacturing 1,645,287 214,597 1,859,884 1,302,740 4,632 1,307,372 Commerce 562,654 25,067 587,721 669,016 1,866 670,882 Tpt/Stor/Comms 938,339 121,863 1,060,202 1,154,647 25,734 1,180,381 Finance 76,905 120 77,025 616,558 23 616,581 Construction 358,700 63,261
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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 16 Index Change Change Change Change Change Change World Preliminary 926.9 0.3 11.7 0.1 8.4 0.5 11.8 EAFE Preliminary 765.1 0.3 12.2 0.6 8.6 1.0 11.9 Europe Preliminary 1134.5 0.4 10.5
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    • 76 26 CRUDE OIL PRODUCTS Mar 15 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 123.19 -2.46 WTI (Near Mth) 105.35 -0.25 Dubai (1-Mth F) 121.58 -0.97 Tapis blend 132.30 -1.76 Minas 132.10 -1.76 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 120.83 0.22 Jet Kerosene 136.13 -1.20 US$/barrel OpecOil Basket
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    • 106 26 As on 15 March 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT APR2012 1659.60 1639.70 1659.70 468 CURRENCY AUD-USD FUT MAR2012 1.0520 1.0450 1.0539 20 EUR-USD FUT MAR2012 1.3112 1.3019 1.3102 7717 USD-JPY FUT MAR2012 83.80 83.80 83.33 2 BASE METAL
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    • 155 26 Mar 16 SICOM RUBBER Futures (Closing prices) RSS 3(US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Apr 12 390.4 182 May 12 392.6 204 Jun 12 394.6 235 Jul 12 395.3 199 Aug 12 397.0 107 Sep 12 398.3 36 Oct 12 399.3 108 Nov
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    • 67 26 Mar 16 Mar 16 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2219.00 2208.75 3 months 2258.00 2250.00 Copper, Grade A(US$/tonne) Cash 8531.00 8582.75 3 months 8510.00 8565.00 Lead(US$/tonne) Cash 2089.00 2095.00 3 months 2108.00 2122.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.50 *****.00
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    • 104 26 Mar 16 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low May 12 1380.75 1375.50 1377.50 1363.50 Jul 12 1369.25 1365.25 1383.75 1370.50 Aug 12 1347.25 1343.75 1372.25 1361.75 Sep 12 1328.25 1350.50 1341.00 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low May 12 55.50 55.85
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    • 80 26 Mar 16 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****E 14-Jun-12 0.32 1-Year BY*****W 01-Nov-12 0.32 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-17 108.26 108.3 108.3 Maturity 10-Year
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    • 446 26 Mar 16 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar12 99.5275 0 2447 Jun12 99.5400 0 1101 Sep12 99.4950 0 619 Dec12 99.4350 0 1593 EUROYEN TIBOR FUTURES Mar12 99.6650 99.6650 99.6650 99.6680 402 2405 Jun12 99.6700 300 2346 Sep12 99.6600 99.6600 99.6600 99.6600 1 684
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    • 79 26 Mar 16 COCOA (£/tonne) Close Prev High/Low Mar 12 1461 1428 1466/1418 May 12 1479 1446 1482/1436 Jul 12 1488 1462 1493/1448 Sep 12 1495 1472 1498/1454 COFFEE(US$/tonne) Close Prev High/Low Mar 12 2033 2027 May 12 2040 2034 2054/2020 Jul 12 2002 2004 2019/1992 Sep 12 2011 2013
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    • 536 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 2 1 150 280 20.00 26 Cooo) Conv Baker Technology Ltd W*****6 3 1 32 11 10.50 8 Exer Price Prem Disc Gearing Expiry Mths Left Asia Pacific
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    • 470 26 Mar 16 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.046 6.656 0.805 8.172 52.859 96.370 0.879 11.852 3.213 1.284 95.507 45.353 1.328 8.021 0.972 31.104 32.327 0.669 1.053 Canada 0.956 6.366
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    • 55 26 Mar 16 (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$) 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths SWAP Mid rates (S$) 0.***** SWAP Mid rates
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    • 136 26 GOLD(US$/oz) Mar 15 Mar 16 Hong Kong 1657.00 1666.00 Mar 16 Mar 14 Mar 16 London 1642.19 1654.50 1643.41 1655.25 Source: Thomson Reuters CAST BAR Mar 16 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 162 67 5gm 460 337 10gm 822 674
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    • 57 26 Mar 16 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Apr 12 3410.0 3393.0 3410.0 3385.0 1139 ***** May 12 3414.0 3403.0 3422.0 3386.0 5619 ***** Jun 12 3410.0 3397.0 3418.0 3385.0 ***** ***** Jul 12 3391.0 3391.0
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    • 24 26 Mar 16 Open High Sett STI Mar 3026 SIMSCI Mar 349.0 350.3 349.8 Taiwan Mar 288.7 289.5 285.7 Source: SGX Derivatives
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    • 154 26 Mar 16 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3276 1.3281 1.0526 1.0527 Canadian dollar 1.2697 1.2701 1.0066 1.0067 Euro 1.6494 1.6499 1.3077 1.3078 NZ dollar 1.0338 1.0348 0.8196 0.8202 Sterling pound 1.9830 1.9842 1.5722 1.5728
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    • 22 26 Mar 16 S$ Bid Offer 1-month 1.2613 1.2616 2-months 1.2613 1.2616 3-months 1.2611 1.2615 6-months 1.2602 1.2607 Source: OCBC
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    • 121 26 As at 9am Mar 16 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.359 1.295 Can dollar 1.297 1.248 Euro 1.684 1.62 Sterling pound 2.022 1.945 NZ dollar 1.064 1.014 US dollar 1.282 1.233 Local dollars to 100 units of foreign
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    • 154 26 Mar 16 $S Offer Bid 0vernight 0.01 par 1-month 5/16 3/16 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.10 US$ Offer Bid 7 days 0.23 0.13 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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  • 3813 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
      47 words

  • Page 28 Advertisements
    • 155 28 Snipping lines seeking reliable Iggirtitt partners Can -they find your services here in -the Shipping Times? r urgently n< R d fc>y shippers ADVERTISI JOE WONG 9620 'I 1 they find your servio i in the Shipping Time The Business Times Shipping times AN EFFECTIVE PLATFORM cc We were seeking
      155 words

  • Page 29 Advertisements
    • 31 29 GRAB YOUR APRIL ISSUE NOW! FREE! SCHICKHYDRO5 RAZORWORTH$11.90 WITHTHISISSUE! Only at Kinokuniya, while stocks last! MENSHEALTH.COM.SG BESTDIGITALMEDIAOFTHEYEAR* *No. 1 in Marketing Magazine’s 2011 Digital Media of the Year rankings, Men’s category.
      31 words

  • BizIT THE USINESS OF INFOCOMM TECHNOLOGY
    • 939 30  -  Social media allows businesses to communicate with these customers and eventually cultivate a relationship with them. JOSHUA TAN reports TANreports them.JOSHUA TANreports SOCIAL media has transformed the way businesses operate in the digital sphere, but organisations need to figure out how to best engage their online
      REUTERS  -  939 words
    • 167 30 Reuters [NEW YORK] The US Federal Trade Commission is examining whether Google deceived consumers by planting so-called Internet cookies in Apple’s Web browser without users’ consent, Bloomberg said on Friday. The agency is investigating whether the cookies allowed it to aim advertising at users of Apple’s
      Reuters  -  167 words
    • what’s up
    • 753 29 AFP [LONDON] Apple’s new iPad tablet computer drew a muted response from fans in Europe after smaller crowds than previous launches turned out in Asia for a device that is short on new technology. Fans queuing in Sydney, Tokyo, Hong Kong,
      AFP; REUTERS  -  753 words
    • 791 29  -  New servers result of Project Voyager initiative, writes AMIT ROY CHOUDHURY writesAMIT AMIT ROY CHOUDHURY Ensuring that da-ta-centre capacity can meet growing workload requirements is critical to an organisation’s ongoing survival, according to Hewlett Packard (HP). Speaking to BizIT, HP’s Stephen Bovis noted that constraints
      791 words
    • 649 29  -  Encryption for short messages has been proven uncrackable By VICTORIA HO USED by KGB spies and the British special forces during World War II, one would think a nearly hun-dred-year-old technology would be obsolete by now. The one-time pad, invented around 1917, is a
      649 words
    • 250 29 Bloomberg [SAN FRANCISCO] Apple sought another court order to get Motorola Mobility Holdings to turn over information about its pending acquisition by Google and development of the Android software operating system. US Circuit Judge Richard A Posner in Chicago issued the March
      Bloomberg  -  250 words
  • Page 30 Advertisements
    • 75 30 When East meets West, Wellness Blossoms OUT 1 NOW Expert advice from more than 8(!?=9 3"67$? >=#’ 9:3& 0+ :?349:$3=? !=3$9797#&?=; 5:? :?349: ’3<3%7&? 9:39 <76?; Traditional Chinese Medicine More inside: Miracle of Water Drink it Right ,?E5$6G #F 25@GE )E?%9 <?DA@ ;E5?% #F 7E>@A 7AG D##"%GCC #F ’A#6G DE5?%C
      75 words