The Business Times, 14 April 2012

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Total Pages: 48
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    22 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g| g| APRIL 14-15, 2012 S$1.00| S$1.00| MICA (P) 121/08/2011 sp!l A SINGAPORE PRESS HOLDINGS PUBLICATION
    22 words
  • Article, Illustration
    Lock icon MAS surprises with tighter monetary policy
    716 1  -  Unexpected move sends Singapore dollar surging; the central bank also raises its core inflation forecast to 2.5-3% and sees headline inflation hitting 3.5-4.5% By Emilyn Yap, Teh Shi Ning emilyny@sph.com.sg tshining@sph.com.sg Singapore TUBBORN inflation has become the beast to slay. The Monetary Authority of
    Source: Department of Statistics  -  716 words
  • Article
    Lock icon Donald Trump homes in on India
    726 1  -  US magnate to kick off raft of residential and hotel projects over next 5 years By Neeta Lal btworld@sph.com.sg New Delhi AMERICAN tycoon Donald Trump is all set to make an ambitious foray into the Indian real estate sector for his brand of uber
    726 words
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  • TOP STORIES
    • Article, Illustration
      Lock icon CONTENTS
      62 2 NEWS Top Stories 2-8 Week in Review 9 Raffles Conversation 10-11 Companies 12-15 From The Desk Of 16 Singapore 17-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-32 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Dining L2-6 Weekend With L7 Shopping L8-9 Home Garden
      62 words
    • MARKETS
      • Article
        Lock icon STOCKS
        57 2 GSTI 2,987.82 (+9.68) GSTI FUTURES 2,973 (+10) GSIMSCI 342.76 (+0.89) GSIMSCI FUTURES 339.90 (+0.90) Friday Change KL COMP 1,603.12 +1.85 NIKKEI 225 9,637.99 +113.20 HANG SENG 20,701.04 +373.72 SET Closed JAKARTA 4,159.28 +19.74 MANILA 5,097.30 +50.52 KOSPI 2,008.91 +22.28 SHENZHEN B 656.76 +9.46 MUMBAI IND 17,094.51 -238.11 12noon EDT
        57 words
      • Article
        Lock icon PRIME RATES
        28 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.788 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.50 INDIA 14.75 Source:
        28 words
      • Article
        Lock icon FOREX
        48 2 us$ s$ US$ (S$ per US$) 1.247 (US$/S$ per 1.594 1.988 EURO(US$/S$/E) 1.317 1.643 Foreign currency per US$ S$ YEN 80.90 64.90 RM 3.058 2.451 HK$ 7.762 6.222 BAHT 30.75 24.65 RUPIAH 9,145 7,331 RENMINBI 6.300 5.050 INDIAN RUPEE 51.40 41.20 A$ 0.962 0.771 NZ$ 1.206 0.967
        48 words
    • Article
      Lock icon ‘Wage shock’ therapy too risky, says labour chief Swee Say
      603 2  -  Rising wages without productivity gain could bring job loss; S’pore becomes uncompetitive By Anna Teo anna@sph.com.sg Singapore LABOUR chief Lim Swee Sayyesterday described as “thought-provoking” but “too risky” a controversial proposal to shock-hike low salaries to close the income gap,
      603 words
    • Article
      Lock icon Corrections
      95 2 IN “OCBC cuts 10¢ off Lian Beng price target on earnings slide” (BT, April 13), we gave the wrong figures for OCBC Investment Research’s lowered share price target for Lian Beng Group. It should be a cut of four cents to 47 cents, not 10 cents to 41 cents.
      95 words
    • Article, Illustration
      Lock icon Economists upbeat about S’pore economy
      637 4  -  Growth this year seen exceeding official forecast of 1-3%, kept unchanged by MTI By Teh Shi Ning tshining@sph.com.sg Singapore SINGAPORE may have grown a modest 1.6 per cent year on year in the first quarter, but the V-shaped rebound in sequential terms has led economists
      Source: Ministry of Trade and Industry  -  637 words
    • Article, Illustration
      Lock icon Sing dollar up against greenback as MAS tightens
      476 4  -  But narrower bands limit scope for extended USD/SGD slide, say economists By Emilyn Yap emilyny@sph.com.sg Singapore Singapore THE Singapore dollar jumped to its strongest level in more than six weeks yesterday after the central bank tightened monetary policy. One hour after the
      Source: MAS  -  476 words
    • Article
      Lock icon China’s growth in Q1 slowest in 3 years
      470 6 GDP up just 8.1% even as new yuan loans surge and industrial, retail sectors pick up Bloomberg Beijing CHINA’S growth slowed more than forecast last quarter to the least in almost three years, prompting economists to predict a rebound as Premier Wen
      Bloomberg  -  470 words
    • Article, Illustration
      Lock icon Romney slips ahead as rivals have a bad week
      565 6  -  He still trails Obama, but much will depend on the economy By Rob Curran btworld@sph.com.sg IT WAS a good week for Mitt Romney if only because it was so bad for his foes. Former Pennsylvania Senator Rick Santorum quit the Republican
      AP  -  565 words
    • Article, Illustration
      Lock icon Aye-aye Capt Mok, bye-bye Capt James
      730 7  -  Former Alpa-S president beats his successor in first election of the pilots’ union since 2003, capturing 56% of votes cast By Ven Sreenivasan ven@sph.com.sg Singapore THE successor has lost to his predecessor in the latest election for president of the Air Line Pilots Association-Singapore
      FILE PHOTOS  -  730 words
    • Article
      Lock icon Euro 2012 hotel rates going skyhigh
      573 7  -  Platini says hoteliers are ‘bandits’ out to make a quick buck By Lee U-Wen leeuwen@sph.com.sg Singapore IT’S not just London that is facing the problem of soaring hotel rates in the build-up to the Olympic Games in July. Those planning to head to Ukraine
      573 words
    • Article, Illustration
      Lock icon Still living on the Bay
      1038 8  -  Singapore sellers on eBay punch above their weight By Anna Lee annalee@sph.com.sg Singapore THERE’S still life on the Bay, it seems, even if things have become a little less cosy of late. The proliferation of online e-commerce portals, in Singapore and elsewhere, have led many
      ARTHUR LEE  -  1,038 words
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  • Page 3 Advertisements
    • Advertisement
      Lock icon Page 3 Advertisements Column 1
      41 3 Is Co «■>*. Cl s Co W B r CD B 0 era W &4 O N cd era a te p I f-n*> 6> ii ION Orchard Tel: 6509 8770 Paragon Tel: 6735 8147 Takashimaya Department Store Tel: 6733 9293 ZEGNA.com
      41 words
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  • Page 4 Advertisements
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      Lock icon Page 4 Advertisements Column 1
      51 4 Ardmore Park Spacious 4-bedroom (2,885 sq ft) with balcony Epitome of modern luxury living Sprawling landscape (320,000 sq ft) Exclusive address Goodwood Hill greenery view Full condo facilities For a pleasant buying selling experience, call RudyTedja 9686 9963 Sole Agent cea Reg no. roos96oi *Other Luxury Condominium Penthouse available savills
      51 words
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  • Page 5 Advertisements
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      1954 5 BEST WORLD INTERNATIONAL LIMITED (Company Registration No. *****6030Z) (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the annual general meeting ("AGM”) of Best World International Limited (the "Company") will be held at 480, Lorong 6 Toa Payoh, #15-00, HDB Hub East Wing,
      1,954 words
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK | April 9-13, 2012
      • Article
        Lock icon All eyes on Sing$ as price pressure rises
        48 9 MOST private sector economists now expect the Monetary Authority of Singapore to keep its current stance of allowing a gradual appreciation of the Singapore dollar in its twice-yearly policy statement in light of stubbornly high inflation and receding growth risks.
        48 words
      • Article
        Lock icon New gold player emerges with ‘buyback offer’
        61 9 ANOTHER gold trading company marketing an “offer to buy back” has emerged even as others have folded or come under regulatory scrutiny. The Gold Guarantee, an outfit headquartered in Boat Quay, claims that it will buy back gold at a premium to the
        61 words
      • Article
        Lock icon Alarm bells in China, US bring out the bears
        48 9 THE bears have tightened their grip on markets after a quarter of hibernation. Asian stocks sank yesterday, following weaker than expected payroll numbers in the United States and higher inflation in China which gave investors reasons to avoid risk.
        48 words
      • Article
        Lock icon De lights go out on SingTel’s e-mag store
        53 9 SINGTEL’S magazine app store de!ite has become the telco’s first casualty among its digital offerings, shutting down less than two years after it was launched, BT has learnt. In response to BT’s queries, SingTel confirmed yesterday that the e-magazine store will be
        53 words
      • Article
        Lock icon SingTel mulling response to WhatsApp challenge
        58 9 SINGTEL is thinking about beating the WhatsApps and Vibers of the world at their own game. The telco has not ruled out coming up with a voice over Internet protocol-based app of its own to reclaim some lost mobile communication territory, group CEO Chua
        58 words
      • Article
        Lock icon You may have to splash out more for that M’sian property
        49 9 SINGAPOREANS looking to buy properties in Malaysia may see the bar raised. Malaysia is mulling a two-fold increase to the floor price of residential properties purchased by foreigners in a bid to prevent prices from spiralling too rapidly.
        49 words
      • Article
        Lock icon Tense times for businesses in Chongqing
        59 9 THE dramatic purge of Bo Xilai the former chief of Chongqing city from the Politburo in China this week is expected to make some Singapore businesses operating in the city cautious in the short term. The episode has stirred new concerns over leadership, not
        59 words
      • Article
        Lock icon Morgan Stanley loses appeal in Pinnacle Notes case
        63 9 THE US Court of Appeals has re- jected Morgan Stanley’s bid to block Singapore investors of the failed Pinnacle Notes from pursuing their case in New York. In a landmark decision made public on Wednesday, it declined to re-exam-ine a federal court
        63 words
      • Article, Illustration
        Lock icon MR CONNER
        21 9 For OCBC, his hopes are that the bank will be much more than just ‘fine’ in the future BLOOMBERG
        BLOOMBERG  -  21 words
      • Article
        Lock icon Land of the rising yen goes bargain-hunting
        47 9 THEY’VE gotten hungrier, faster and they have lots of cash to boot. Japanese companies have been acquiring more assets in the rest of Asia and they look set to go on, even with the yen weakening from a historic high.
        47 words
      • Article
        Lock icon Departing boss wants OCBC to be ‘SIA of banks’
        92 9 DAVID Conner, OCBC’s chief executive who retires today after 10 years at the group, has seen his share of turmoil in the banking industry, most recently the financial crisis of 2008-09. For OCBC, his hopes are that the bank will be
        92 words
      • Article
        Lock icon Taxman collects $110m in ABSD
        49 9 THE taxman collected about $110 million in additional buyer’s stamp duty between Dec 8 last year when ABSD took effect and March 31 this year. The sum includes $66.2 million in ABSD from foreigners who bought 369 private homes over the near four-month period.
        49 words
    • Article
      Lock icon NEXT WEEK | Apr 16-20,2012
      65 9 NEXT WEEK Apr 16-20,2012 US DATA April 16 March retail sales Feb business inventories April 17 March housing starts March industrial production April 19 March existing home sales March leading indicators CHINA DATA April 17 FDI April 18 March property prices SINGAPORE DATA April 17 March merchandise trade EVENTS April
      65 words
  • Page 9 Miscellaneous
    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 1
      318 9 Across 1 Leader, forceful and obstinately self-willed (10) 6 Hard to lose opening argument (4) 9 Shot, clerical dignitary, reportedly at social function (10) 10 Message about lake plant (4) 12 Intelligence needed to secure right legal document (4) 13 In New York, a sole cooked with onions (9) 15
      318 words
    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 2
      11 9 SATURDAY with Ludwig but you can still be friends on Facebook.’
      11 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Driver of development
      2536 10/11  -  UNDP chief Helen Clark talks about what makes the UN’s biggest development agency click. By Vikram Khanna By Vikram Khanna vikram@sph.com.sg HELEN Clark might have been wired to head an organisation like the United Nations Development Programme (UNDP), which focuses on the betterment of the world’s less
      AOTHUR LEE  -  2,536 words
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  • COMPANIES
    • Article, Illustration
      Lock icon SPH posts Q2 net profit of $84m
      477 12  -  Operating revenue rose 3.7% to $298m; recurring earnings rose 1 4.2% over the year to $90m By Jamie Lee leejamie@sph.com.sg SINGAPORE Press Holdings (SPH) yesterday reported an 11.6 per cent rise in net profit for the second quarter, lifted by higher rental income
      FILE PHOTO  -  477 words
    • Article
      Lock icon European investors need to brush up on Asia
      589 12  -  Emerging market corporates and Asian bonds underestimated, says Germany’s DWS Inv By Siow Li Sen lisen@sph.com.sg THERE is still not enough awareness among European investors about Asia and its booming economies and there needs to be more engagement with the region, said
      589 words
    • Article
      Lock icon OCBC buys stake in Indonesian broker for 92b rupiah
      270 12  -  By Kenneth Lim kenlim@sph.com.sg OVERSEA-CHINESE Banking Corp (OCBC) is buying an 80 per cent stake in Indonesian broker-dealer TransAsia Securities for about $12.5 million in cash. OCBC will pay 92 billion rupiah (S$12.5 million) to buy the shares from Farnella Mandiri
      270 words
    • Business briefing
      • Article
        Lock icon ST Aerospace wins $540m of contracts in Q1
        58 13 Aerospace ST Engineering’s aerospace arm, ST Aerospace, secured $540 million worth of contracts in the first quarter of 2012. The company said those contracts for aircraft maintenance and modification, component total support, and engine total support businesses will be carried out at
        58 words
      • Article
        Lock icon UOL makes another payment for St Patrick’s
        69 13 payment UOL Group said it has paid another $8.6 million for the purchase of St Patrick’s Garden. The payment comes after the STB Order for sale of the property was received. UOL has already paid $8.6 million or 5 per cent of the
        69 words
      • Article
        Lock icon Advanced Integrated unit wins kitting contract
        63 13 Integrated kitting ADVANCED Integrated Manufacturing Corp said its subsidiary, Advanced Manufacturing Corp (Penang) Sdn Bhd, has received a US$3 million a year kitting programme award from Honeywell International Inc. Transition activities in relation to the 2012 Kitting Programme will begin with immediate effect and
        63 words
      • Article
        Lock icon Hi-P expects ‘small net profit’ in Q1
        55 13 expects HI-P International said it expects to report a “small net profit” for the first fiscal quarter of FY2012, due to high-er-than-expected sales and better cost control. The group had previously said it expects to report a loss in the quarter on similar
        55 words
      • Article
        Lock icon Miyoshi posts Q2 loss of $3.1m
        79 13 posts MIYOSHI Precision reported that its losses swelled in the second quarter ended Feb 29, 2012. For the three months to end-February, Miyoshi made a net loss of $3.11 million, compared to a net loss of $0.28 million a year ago. The weaker earnings
        79 words
      • Article
        Lock icon STX OSV bags Norway contracts
        64 13 bags Norway STX OSV Holdings said it has secured new contracts for the design and construction of two offshore subsea construction vessels (OSCV) for Siem Offshore in Norway. The vessels will be of STX OSV’s OSCV 11 design, with an overall length of 121 metres,
        64 words
      • Article
        Lock icon ANZ’s Tham joins Deutsche Bank
        90 13 Bloomberg joins AUSTRALIA New Zealand Banking Group Ltd’s (ANZ) director of corporate and institutional banking, Tham Kong Chiu, has left to join Deutsche Bank AG, according to three people familiar with the matter. Singa-pore-based Tham started at the German lender last week in a role
        Bloomberg  -  90 words
    • Article
      Lock icon M&L to raise up to $509m in IPO
      215 14 Reuters M&L Hospitality Trusts, which owns hotels in Singapore, Australia, and Japan, plans to raise as much as $509 million via an initial public offering (IPO) in Singapore, according to a term sheet seen by Reuters. M&L plans to sell up to
      Reuters  -  215 words
    • Article, Illustration
      Lock icon Bailout assurances provide main support this week
      1006 14  -  Retail dealers focus on punting low-priced speculatives, new themes, new IPOs STOCKS R Sivanithy sivan@sph.com.sg Senior correspondent SPAIN and Italy’s lousy finances came under scrutiny this week, thus providing markets with the main incentive to sell. Providing the incentive to buy were hints
      1,006 words
    • Article
      Lock icon Centurion unit buys JB dorm for RM15 0,010
      284 15  -  Currently undergoing renovation, the dorm will be operational in June 2012 By Amanda Eber aeber@sph.com.sg CENTURION Corporation Limited has acquired a dormitory asset in Johor Bahru, which will increase its bed capacity in Malaysia by 17 per cent. Acting through its subsidiary,
      284 words
    • Article
      Lock icon Sino-Forest seeks extension of creditor protection order
      198 15 Reuters Toronto SINO-FOREST Corp has asked a Canadian court to extend a recently granted creditor protection order until July 9, arguing this would create certainty for potential buyers considering a bid for its forestry assets in China. The Ontario Superior Court last month
      Reuters  -  198 words
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      Lock icon Page 13 Advertisements Column 1
      29 13 n s n VJT1_Tfind the ones THAT FIT! q Recruit the right people through CATS Recruit. Call 1800 289 8822 or email recruit@sph.com.sg J to advertise. u 13 1 >
      29 words
    • Advertisement
      Lock icon Page 13 Advertisements Column 2
      1604 13 Ill MANHATTAN RESOURCES LIMITED MANHATTAN RESOURCES LIMITED Registration No. *****6289K (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Manhattan Resources Limited (Company) will be held at MND Auditorium, 9 Maxwell Road, Annexe A, MND Complex, Singapore *****2
      1,604 words
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  • Page 14 Advertisements
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      Lock icon Page 14 Advertisements Column 1
      66 14 SINGAPORE’S PREMIER HOME-GROWN CAR MAGAZINE TO TAXPAYERS > ELECTR r J 5J»H09J EXCLUSIVE) PLAYING GT3 WE HAVE AGO IN A MERCEDES SIS RACECAR 2 DRIVES F IKE INriNITI C37 CON VfRTIBH TOVOT* PRIVS C MINI ROADSTER CROUP APRI 0 L UTNOW! BREAKFAST WITH TORQUE ON MAY 19 MINGLE WITH THE
      66 words
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      Lock icon Page 15 Advertisements Column 1
      1388 15 CHINA YONGSHENG LIMITED (Incorporated in the Republic of Singapore) (Company Registration No: *****2032R) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 37th Annual General Meeting (“AGM”) of the Company will be held at Orchard Hotel 442 Orchard Road Singapore *****9 on Monday, 30 April 2012 at 9.30
      1,388 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon To observe due diligence, observe yourself first
      1031 16  -  For retail investors, due diligence is about understanding themselves and how an investment product fits in with their life goals, investment horizons and risk profiles FROM THE DESK OF Gerald Foo Chief Operating Officer Walton International Group (S) Pte Ltd RECENTLY, the Monetary
      1,031 words
    • Article, Illustration
      Lock icon S’pore Inc ‘less optimistic than rest of region’
      473 17  -  But Stanchart study finds S’pore execs’ sentiment improved in Q1 from before By Amanda Eber aeber@sph.com.sg ALTHOUGH receding recession fears in the West have raised optimism in Asia, corporate Singapore remains less hopeful about its business prospects compared to the rest of
      Source: Standard Chartered Research, Nielsen  -  473 words
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      2132 17 K|LS JES INTERNATIONAL HOLDINGS LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****4831K) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the Annual General Meeting of JES INTERNATIONAL HOLDINGS LIMITED (the “Company") will be held at the Gallery Hotel, Amadeus Room, 1 Nanson Road Singapore *****9
      2,132 words
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  • SINGAPORE
    • Article, Illustration
      Lock icon Retail sales surge by 19% in February
      683 18  -  Double-digit growth due to low base effect and shift in Chinese New Year, say analysts By Malminderjit Singh msingh@sph.com.sg SINGAPORE’S retail sales rose by 19 per cent year-on-year in February, recording its first double-digit growth since last July. The dramatic increase in growth,
      YEN MENG JIIN  -  683 words
    • Article
      Lock icon MOU with UK body aims to lift private education standard
      346 18  -  By Kelly Tay kellytay@sph.com.sg IN A bid to raise the standard of private education institutions (PEIs) in Singapore, the Council for Private Education (CPE) yesterday signed a memorandum of understanding (MOU) with its United Kingdom counterpart, the Quality Assurance Agency
      346 words
    • Article
      Lock icon Primus Ventures to settle rent dispute with landlord
      258 18 Bloomberg Singapore THE Singapore unit of Primus Pacific Partners Ltd and the landlord of a bungalow have agreed to settle a lawsuit over a rental dispute, according to three people familiar with the case. Lee Theng Kiat, a president of Temasek Holdings,
      Bloomberg  -  258 words
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  • WORLD
    • Article, Illustration
      Lock icon Global trade to slow further in 2012: WTO
      524 19 The WTO expects trade to recover somewhat by 2013 and result in additional growth of 5.6% AFP Geneva GLOBAL trade growth, already weaker than predicted in 2011, will further slow this year as the European Union (EU) fights recession and even China’s
      AFP; AP  -  524 words
    • Article
      Lock icon Japan bank to install ATMs that identify via user’s palm
      134 20 AFP Tokyo A REGIONAL bank in central Japan will become the country’s first financial institution to adopt automated teller machines that will identify users by their palms. Ogaki Kyoritsu Bank said it would install about a dozen palm-scanning biometric ATMs
      AFP  -  134 words
    • Article
      Lock icon UK’s Capula expandingbusiness into Hong Kong
      577 20 Move adds to revival in hedge fund industry in Asia after a rough 2011 Reuters Hong Kong GOLDMAN Sachs-linked Capula Investment Management is expanding its US$13 billion business into Hong Kong, according to sources, becoming the latest major investor to jump into the region
      Reuters  -  577 words
    • Article
      Lock icon Petrol fuels consumer price rise to 0.3% in March
      517 21 Core CPI up 0.2%; figures in line with economists’ expectations LATEST US DATA Reuters Bloomberg Washington US CONSUMER prices rose modestly in March as falling electricity costs countered higher petrol prices, boosting the view the US Federal Reserve has room to
      Reuters; Bloomberg  -  517 words
    • Article, Illustration
      Lock icon Cameron seeks suspension of Myanmar sanctions
      425 21 Bloomberg London UK Prime Minister David Cameron proposed suspending sanctions apart from an arms embargo against Myanmar to encourage democracy, in the first visit by a Western leader since the opposition rejoined the political system. It’s right to “suspend sanctions, to suspend them, not
      Bloomberg; AFP  -  425 words
    • Article
      Lock icon North Korea rocket blows up in mid-air 2 minutes after blast-off
      434 21 AFP Pyongyang NORTH Korea’s heralded long-range rocket test ended in failure yesterday, disintegrating in mid-air soon after blast-off and plunging into the sea in a major embarrassment for the reclusive state. The defiant launch drew condemnation from world leaders
      AFP  -  434 words
    • Article
      Lock icon Najib may fare better in next election: Dr M
      615 22  -  But ex-PM warns Umno is not managed well and needs fresh blood to hold on to power in the long run By S Jayasankaran btworld@sph.com.sg Kuala Lumpur FORMER premier Mahathir Mohamad has predicted that Prime Minister Najib Razak is likely to
      615 words
    • Article
      Lock icon Google rejoins race to the bottom
      416 22  -  iSS REUTERS BREAKINGVIEWS •iv.' By Robert Cyran btworld@sph.com.sg GOOGLE is no stranger to bad corporate governance. It set off the trend in Silicon Valley when it established super-voting shares in its 2004 market debut. Insiders Larry Page, Sergey Brin and Eric Schmidt now control
      416 words
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      Lock icon Page 19 Advertisements Column 1
      56 19 J,.. 1 l nl1 tS mBUsiNESSTlMES ji Morgan •HU! EAto "’no. I on ImprovelYour 0ftfo4c Financial Quotient j 9* <- ,v •Ni Save almost 40% when you subscribe to The Business Times Sharelnvestor! Promotion ends 6 May 2012. Act now! To subscribe, please call 6388 3838 or email circs@sph.com.sg Sfh
      56 words
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      536 20 OPTIMISE YOUR PERFORMANCE DURING TOUGH TIMES should attend: VPs, Heads, Directors and Managers (Sales and Marketing, Brand and Product), Marketing Support Professionals, PMEBs, and other general management professionals Register at www.stjobs.sg/seminars FULL-DAY SEMINAR Thur, 19 April 2012, SPH Auditorium (9.15am to 5.45pm) Be a Sales Marketing Champion! Performing at Your
      536 words
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  • Article
    Lock icon SGX
    8158 23 Transaction date: Apr 13 Transaction date: Apr 13 Transaction date: Apr 13 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 17.5 11.5 8Telecom 14cd +0.7 60 14 14 14 16 66.8 0.4 3.4 67
    8,158 words
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  • Article
    Lock icon SGX CATALIST
    1776 26 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 34 12.1 t 800 Super 17.3 16.4 17.2 4.7 3.2 6.7 30.9 4.5 2.5 t AA Grp 3.3 3.3 4 3.2 168 39 t APStrategic
    1,776 words
  • Article
    Lock icon SECURITIES TRADING SCOREBOARD
    186 26 MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 5 3 0 0 0 8 5 3 Manufacturing 52 53 43 10 8 7 62 61 50 Commerce 32 16 20 5 2 5 37 18 25 Tpt/Stor/Comms 17 18 7
    186 words
  • Article
    Lock icon BT SHARE INFORMATION SERVICE
    785 26  -  Compiled by BT SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Apr 9 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Pacific Healthcare 12-Apr-12 Chong Lai Leong *Buy 50 0.11 ***** 6.59 ***** 6.60 Pacific
    785 words
  • Article
    Lock icon | SECURITIES TRADING TURNOVER
    123 26 SECURITIES TRADING TURNOVER TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 23,075 23,075 140,308 140,308 Manufacturing 582,905 802,689 1,385,594 261,327 10,256 271,583 Commerce 803,692 30,991 834,683 122,102 1,599 123,701 Tpt/Stor/Comms 104,973 9,309 114,282 135,220 2,378 137,598 Finance 21,069 20 21,089 133,788 4 133,793 Construction 445,003 110,101
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  • MARKETS
    • Article
      Lock icon LIFFE
      80 27 Apr 12 COCOA (£/tonne) Close Prev High/Low May 12 1412 1381 1414/1360 Jul 12 1418 1390 1420/1367 Sep 12 1428 1399 1429/1377 Dec 12 1436 1408 1437/1386 COFFEE(US$/tonne) Close Prev High/Low May 12 1996 2009 2016/1979 Jul 12 2005 2019 2025/1988 Sep 12 2014 2030 2035/2001 Nov 12 2010
      80 words
    • Article
      Lock icon METALS
      69 27 Apr 13 GOLD(US$/oz) Apr 12 Apr 13 Hong Kong 1666.00 1680.00 Hong Kong Apr 11 Apr 12 London 1657.31 1672.61 1658.08 1673.38 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 40.59 39.94 Source: UOB PLATINUM/ Lon (US$/oz) Apr 12 Close Previous PM Fix 1585.00 1590.00 AM Fix 1594.00
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      Lock icon PALM OIL
      60 27 Apr 13 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Apr 12 3600.0 3596.0 3600.0 3568.0 354 2354 May 12 3590.0 3570.0 3592.0 3515.0 2138 ***** Jun 12 3579.0 3559.0 3583.0 3507.0 ***** ***** Jul 12 3559.0 3540.0
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      Lock icon GOVERNMENT SECURITIES
      84 27 Apr 13 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****H 12-Jul-12 0.30 1-Year BY*****W 01-Nov-12 0.31 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.250 01-Feb-14 100.22 5-Year N*****0Z 2.375 01-Apr-17 108.85 10-Year NX*****X 2.250 01-Jun-21
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      Lock icon INTERBANK CURRENCY RATES
      154 27 Apr 13 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2956 1.2972 1.0388 1.0397 Canadian dollar 1.2530 1.2538 1.0046 1.0049 Euro 1.6419 1.6432 1.3165 1.3170 NZ dollar 1.0337 1.0347 0.8288 0.8293 Sterling pound 1.9874 1.9887 1.5935 1.5939
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      Lock icon SMX MARKET UPDATE
      99 27 As on 12 April 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT JUN2012 1680.00 1651.40 1680.80 209 CURRENCY AUD-USD FUT JUN2012 1.0356 1.0295 1.0358 1098 EUR-USD FUT JUN2012 1.3209 1.3110 1.3196 2491 BASE METAL COPPER FUT MAY2012 8200 8059 8195 1924
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      Lock icon CHICAGO BOT
      103 27 Apr 12 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low May 12 1441.00 1422.00 1444.50 1420.00 Jul 12 1444.50 1424.25 1447.25 1422.00 Aug 12 1432.00 1412.25 1434.50 1412.25 Sep 12 1399.25 1383.00 1403.00 1381.50 SOYBEAN/OIL(60,000 lbs; USc/lb) Close Previous High/Low May 12 57.23 56.45 57.25 56.41
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      Lock icon OIL
      74 27 Apr 12 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 120.82 0.99 WTI (Near Mth) 103.67 1.01 Dubai (1-Mth F) 116.57 0.24 Tapis blend 127.21 0.20 Minas 127.21 0.20 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 115.50 1.50 Jet Kerosene 132.79 1.37 US$/barrel OpecOil Basket Price 118.72
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      Lock icon FOREIGN CURRENCY NOTE RATES
      118 27 Apr 13 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.333 1.27 Can dollar 1.278 1.229 Euro 1.676 1.612 Sterling pound 2.029 1.951 NZ dollar 1.065 1.015 US dollar 1.266 1.218 Local dollars to 100 units of foreign currency: Currencies Sell
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      Lock icon I LONDON METALS
      72 27 Apr 12 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2065.25 2060.75 3 months 2104.00 2099.00 Copper, Grade A (US$/tonne) Cash 8265.75 8077.50 3 months 8220.00 8040.00 Lead (US$/tonne) Cash 2097.50 2060.00 3 months 2099.00 2053.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash
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      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      373 27 In local curr In S$ In US$ dy yr dy yr dy yr Apr 12 Index Change Change Change Change Change Change World Preliminary 896.0 1.0 8.0 0.8 4.7 1.1 8.3 EAFE Preliminary 723.6 0.9 6.1 0.9 3.0 1.3 6.6 Europe Preliminary 1068.5 1.1 4.1
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  • PERSPECTIVE
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      Lock icon Everyone wants to be an entrepreneur
      982 28 / 29  -  To succeed one must have the vision to see opportunities that others do not, the zeal to make that a reality and the tenacity to keep growing. By Mark Dixon growing.By Mark Dixon ~The writer is CEO and founder of Regus, a provider of
      REUTERS  -  982 words
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      Lock icon Courting the S’porean shopper
      797 28 / 29  -  By Linda Loh, Anand Kumar ~Linda Loh is manager, Ipsos Business Consulting and Anand Kumar, director, Ipsos Business Consulting. Ipsos is a market research company with offices in over 84 countries with 16,000 staff worldwide. IN the late 1970s and early 1980s, Singapore only had a
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Psychological factors behind investor losses
        1006 30 / 31  -  Dalbar study of investor behaviour shows that the ‘average investor’ underperforms benchmarks due to his tendency to buy high and sell low Genevieve Cua gen@sph.com.sg Personal Finance Editor VOLATILITY in 2011 has thrown into sharp relief the damage that investor fear and greed wreak, says
        FILE PHOTO; Source: DALBAR  -  1,006 words
      • BROKERS' TAKE
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          Lock icon FJ Benjamin
          390 30 / 31 Buy UOB Kay Hian April 13 Close: $0.345| ON expansion mode: FJ Benjamin (FJB) will be looking to add a highly scalable, mass-market fashion label to its brand portfolio this year, targeted at the Indonesian casual wear market. FJB has not acquired a mass-market brand in six years
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          Lock icon Keppel Corporation
          351 30 / 31  -  Compiled by Jamie Lee Buy DMG Partners Research |April 13 Close: $11.46| KEPPEL Corp has secured a Letter of Intent (LOI) from Sete Brasil for the design and construction of five semisub drilling rigs. All the rigs will be based on Keppel’s proprietary DSSTM 38E design and the
          351 words
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        Lock icon Tax haven crackdown spells opportunities
        942 32  -  Professor says firms need to embrace tax transparency if they want to stay in business. By Mark Scott NYT London THE world’s tax havens are being forced to clean up their acts. As regulators clamp down on money flows around the globe, governments, even those
        NYT; BLOOMBERG  -  942 words
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        Lock icon The link between profits and recovery
        1082 33  -  Investments and net exports have been the two biggest drivers of corporate profits SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior correspondent IN a recent paper, James Montier of GMO wrote about the historic high profit margins in the US. These record high
        Source: Compiled by BT with data f rom Department of Statistics  -  1,082 words
    • WEALTH REAL ESTATE
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        Lock icon Househunt
        1165 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN MARCH 14 AND MARCH 20, 2012 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 11 LANDED The Chancery Residence 4-Th 15/03/2012 99 3520 2900 824 NON-LANDED L'Viv Apt 16/03/2012 FH 1001
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    • WEALTH
      • Article
        Lock icon Savills takes peek at industrial property trading
        856 35  -  Almost all secondary-market deals in 2011 and Q1 found with previous caveats in the black By Kalpana Rashiwala kalpana@sph.com.sg A CAVEATS analysis by Savills has revealed some interesting numbers on those trading strata industrial units. From URA Realis’ caveats database, Savills found a
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      • Article
        Lock icon Abacus puts Lennons Hotel up for sale at A$60m
        174 35 Bloomberg Sydney ABACUS Property Group, a Syd-ney-based property investment company, is seeking to sell the Lennons Hotel in Brisbane’s city centre for about A$60 million (S$79.7 million), according to the manager of the sale. Bids for the 154-room fourstar Chifley-branded hotel
        Bloomberg  -  174 words
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      102 36 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE UNIQUE ASYMMETRIC STYLING OF THE AUDEMARS PIQUET MILLENARY COLLECTION HAS TRANSFORMED THE WAY DESIGN ENGINEERS DEVELOP CALIBRES. THIS TRI-DIMENSIONAL MOVEMENT COMBINES PERFORMANCE AND CHRONOMETRY WITH HAUTE HOROLOGY MICRO-DETAILING, IN THE TRANSVERSAL BALANCE-BRIDGE, OPTIMUM SHOCKRESISTANCE IS COMBINED WITH THE ELEGANCE OF
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      60 1 LivingBTTHE BUSINESS TIMES WEEKEND APRIL 14-15 2012 GUEST CHEF Peruvian chef Virgilio Martinez L6 SIMPLY ETHNIC Honest-to-goodness traditional fare at no-frills eateries L2-5 PERSONAL SPACE Carpe Diem in Osaka L10-11 DAISY’S DREAM KITCHEN PHOTO BY YEN MENG JIIN STYLE Thumbs up to tie-ups L8-9 TRAVEL Marking time in Myanmar L12-13
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  • LivingBTTHE BUSINESS TIMES WEEKEND | APRIL 14-15 2012
    • DINING
      • SIMPLY ETHNIC
        • Article, Illustration
          Lock icon Hokkien family secret
          936 2 / 3  -  Old House 25 Neil Road Z6223-1633 Open 10am to 4am They’re no-frills eateries that don’t have a lot of ambience, but what they do offer is honest-to-goodness cooking that’s faithful to their own ethnic traditions. BT Weekend samples the menus of five such enterprises By Jaime Ee
          936 words
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          Lock icon Peranakan hospitality
          939 2 / 3 Daisy’s Dream Kitchen 517 West Coast Road, #01-571 Z6779-1781 WHEN you enter Daisy’s Dream Kitchen, you’re suddenly not sure whether you’re in a Peranakan restaurant or if you stumbled into the Tan family’s living room instead. There’s Dad, Charles Tan, entertaining a group of ladies who’ve just arrived
          ALL PHOTOS BY YEN MENG JIIN  -  939 words
        • Article, Illustration
          Lock icon Javanese discoveries
          800 4 / 5 Djanoer Koening 191 Joo Chiat Road Z6440-0774 WHEN your general experience with Indonesian food is limited to mellow Padang curries, tauhu telor and the occasional ay am penyet, a place like Djanoer Koening is a bit of an eye and palate opener. Translated as “yellow coconut leaf”, Djanoer
          800 words
        • Article
          Lock icon Korean connections
          586 4 / 5  -  Big Mama Korean Food 2 Kim Tian Road Z6270-7704 www.bigmama.sg By Geoffrey Eu btnews@sph.com.sg THERE’S really nothing quite like mum’s cooking for an authentic taste of the home front for proof of this, look no further than Big Mama Korean Food, a six-week-old neighbourhood eatery in Tiong Bahru
          586 words
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          Lock icon Danish delights
          709 4 / 5  -  The Tasty Table 23 Mackenzie Road Z6835-7741 Open 8.30am-5pm (Mon, Wed-Fri), 8.30am-8.30pm (Tues), 8.30-4pm (Sun) By Debbie Yong debyong@sph.com.sg THE good thing about visiting a small eatery is that you can get a bespoke meal on every visit. “If we have the ingredients, we’ll put it together, make
          PHOTO OF MRS LARSEN & MRS PEDERSEN BY YEN MENG JIIN  -  709 words
      • Article
        Lock icon wine&dinewith
        773 4 / 5 wine&dinewith BTWeekend Chatterbox Level 5, Mandarin Orchard Singapore 333 Orchard RoadZ6831-6288 Chatterbox is an iconic coffee house renowned for its Asian local delights and Western favourites. Its new premises on Level 5 has a refreshing yet down to earth look. Done up in earthy hues of green and beige,
        773 words
    • ENTERTAINING
      • Article, Illustration
        Lock icon Honest food from nature
        1176 6  -  Peruvian chef Virgilio Martinez believes there is a lot of future for his country’s cuisine worldwide. By Debbie Yong guest chef By Debbie Yong debyong@sph.com.sg WHILE most Singaporeans may fumble trying to pin down Peru on a world map, Singapore is a destination clearly etched into
        PHOTOS: SAVOUR, CENTRALE  -  1,176 words
    • WEEKEND WITH
      • Article, Illustration
        Lock icon A nose for a good investment
        695 7  -  Snuff-bottle collector shares his fascination for the pocket-sized object of art. WEEKEND WITH RICHARD BAEY, HONORARY PRESIDENT, THE SINGAPORE CHINATOWN SNUFF BOTTLE SOCIETY By Dylan Tan dylantan@sph.com.sg A GREEN peach-shaped snuff bottle that caught Richard Baey’s eye at a roadside store in Toa Payoh
        PHOTOS: YEN MENG JIIN  -  695 words
      • Article, Illustration
        Lock icon Highlights from Mr Baey’s collection
        132 7 QUITE A FIND The one that started it all the green swirl glass bottle (above) that Mr Baey bought for less than $100 in Toa Payoh over 30 years ago HIGHLY UNUSUAL A work of art from Mother Nature, this shadow agate bottle (right) is
        132 words
    • SHOPPING
      • Article, Illustration
        Lock icon Thumbs up to tie-ups
        1154 8 / 9  -  Pair the edgy agility of an indie designer with an established fashion store and you get a successful collaboration that spells fresh new designs and even a spike in sales. By May Yip btnews@sph.com.sg YOU’VEprobablyw i t n e s s e d t h e
        1,154 words
      • Article, Illustration
        Lock icon Limited-edition finds
        415 8 / 9  -  By May Yip IF you’re on the look-out for special-edi-tion, collaborative products, why not support local talent and score one-of-a-kind merchandise with these crea- tive tie-ups: MIX AND MATCH Vice Vanity weaved its accessories concept around Saturday’s vision of sleek, wearable design Saturday and Vice Vanity Home-grown accessories
        415 words
    • HOME & GARDEN
      • Article, Illustration
        Lock icon Carpe Diem in Osaka
        1113 10 / 11  -  Frank Riva has converted his home from a simple family dwelling into an all-in-one ryokan, bistro, art gallery and private residence. By Geoffrey Eu personal space By Geoffrey Eu btnews@sph.com.sg IN many respects, Joto-ku in north-eastern Osaka is one of the more unremarkable parts of a
        PHOTOS COURTESY OF FRANK RIVA, YAYOI KUSAMA STUDIO  -  1,113 words
    • TRAVEL
      • Article, Illustration
        Lock icon Marking time in Myanmar
        1521 12 / 13  -  There is no better time than now to experience this country’s natural beauty, before progress takes it away. By Jennifer Dunbar By Jennifer Dunbar btnews@sph.com.sg WHEN it comes to Myanmar, you have two choices: watch the country evolve from the safety of a National Geographic chann
        PHOTOS: JENNIFER DUNBAR  -  1,521 words
    • GADGETS
      • Article, Illustration
        Lock icon Motion capture
        555 14  -  Apple’s new iPad and iMovie app combine to give you the spit and polish of a high-end production studio on your homemade videos. Christopher Lim takes you behind the scenes Christopher Lim limchris@sph.com.sg Apple new iPad ($658-$ 1,088) and iMovie app for iOS (US$4.99) Most phones and tablets
        555 words
    • HEALTH
      • Article, Illustration
        Lock icon The beat that your heart skipped
        1153 15  -  Listen to your heart. It can provide vital clues to preventing strokes. By Michael Lim ~Dr Lim is medical director at the Singapore Heart, Stroke Cancer Centre. He is also editor-in-chief, Heart Asia; British Medical Journals Publishing Group, chairman; Scientific Advisory Board, Asia Pacific
        AFP  -  1,153 words
    • SPORTS
      • Article, Illustration
        Lock icon Living the dream
        568 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Correspondent A HUSH descended upon the entire stadium. One supporter near me was so nervous he could barely watch. Another fan grimaced as he clasped his hands and bit into his woollen scarf. Such was the extent of the tension and
        AFP  -  568 words
      • Article
        Lock icon The FA Cup runneth over
        568 16  -  kick off with andrew leci ~Catch Andrew Leci on SportsCenter on ESPN (mio TV Ch 114) every weekday at 7.30pm, and on tonight’s presentation of the FA Cup semi-finals on STAR Sports (Ch 115) and ESPN HD (Ch 117) WHEN the top two clubs in
        568 words
    • GOLF
      • Article, Illustration
        Lock icon Land of plenty
        1183 17  -  Thailand has golf courses for players of all abilities. Justine Moss highlights some of the best in Chiang Mai Justine Moss btnews@sph.com.sg EVEN with new golf courses sprouting up regularly in diverse regional destinations such as China, Laos, Cambodia and Vietnam, Thailand remains a firm favourite in
        1,183 words
    • MOTORING
      • Article, Illustration
        Lock icon GRAND AMBITIONS
        649 18  -  The new Nissan Elgrand MPV is targeted at business executives, not families. By Samuel Ee samuelee@sph.com.sg THE Toyota nameplate may not be commonly associated with luxury motoring but there is one model from the Japanese carmaker that both tycoons and tai-tais alike are fans of the Vellfire. This
        649 words
      • Article, Illustration
        Lock icon STUDIO MODEL
        669 19  -  Lexus has taken a new direction with the styling of the GS sedan and also made it more fun to drive. By Samuel Ee samuelee@sph.com.sg THE new Lexus GS mid-sized saloon may look like a radically different model with its distinctive spindle grille and arrowhead lamps but deputy
        669 words
      • Article, Illustration
        Lock icon A Shanghai surprise?
        547 20  -  Like the first two races of the year, the Chinese Grand Prix may see some unusual results. f1 watch By Samuel Ee samuelee@sph.com.sg THE Chinese Grand Prix may be taking place tomorrow but it seems all the attention is focused on the Bahrain Grand Prix next weekend.
        AP; PHOTOS: REUTERS, AP  -  547 words
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      38 14 HOME N S f, n Why risk breaking your back? Leave the painting job to the professionals. To find out more, turn to CLASS 112 in CATS Classified in The Straits Times now. WATS BUY IT-SELL IT-FIND IT
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