The Business Times, 1 May 2012

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Total Pages: 43
1 44 The Business Times
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  • Title Section
    Lock icon Masthead
    20 1 THE BUSINESS TIMES www. usinesstimes.com.sg| usinesstimes.com.sg| TUESDAY, MAY 1, 2012 S$1.00| MICA (P) 120/08/2011 spri A SINGAPORE PRESS HOLDINGS PUBLICATION
    20 words
  • Article
    Lock icon China Sky auditors pull out
    31 1 DELOITTE QUITS CHINA Sky Chemical Fibre says it has received notice that Deloitte Touche wants to resign as auditors of the company with immediate effect. 5
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  • Article
    Lock icon No gain for SIA
    39 1 UPS AND DOWNS TOURIST spending jumped by half since 2008, aided by two new casinos and a 23 per cent rise in traffic through Changi but SIA had 21% fewer passengers in the period. 7
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  • Article
    Lock icon SMRT profit plunges 59%
    45 1 RAIL AND PRESENT DANGER WITH recent multiple service disruptions and an ongoing Committee of Inquiry, SMRT Corp has reported a 59% slump in its fourth quarter net profit and is in danger of a further drop in its bottom line. 8
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  • Article
    Lock icon Asia restaurant award on the way
    32 1 SINGAPORE DEBUT AFTER strong Singapore Tourism Board lobbying, organisers of The World’s 50 Best Restaurants decide to launch an Asian edition in February next year. 9
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  • Article
    Lock icon PM has straightforward message for companies and workers
    493 1  -  Firms must think long-term, workers must upgrade skills By Chuang Peck Ming peckming@sph.com.sg Singapore PRIME Minister Lee Hsien Loong says companies must look past immediate gains to help boost national productivity. Workers must also upgrade themselves and master new skills to do
    493 words
  • Article, Illustration
    Lock icon More pain before the restructuring bears fruit
    756 1  -  Tighter monetary policy meant to temper, but not fully offset, price pressures from revamp By Teh Shi Ning tshining@sph.com.sg Singapore IF BUSINESSES are finding this initial phase of restructuring tough, more transitional pain is in store in the next phase before Singapore finally
    Source: EPG, MAS estimates  -  756 words
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  • TOP STORIES
    • MARKETS
      • Article
        Lock icon STOCKS
        56 2 HSTI 2,978.57 (-3.01) HSTI FUTURES 2,958 (-24) HSIMSCI 343.09 (-0.15) HSIMSCI FUTURES 340.80 (-2.60) Friday Change KL COMP 1,570.61 +2.81 NIKKEI 225 Closed HANG SENG 21,094.21 +352.76 SET 1,228.49 +16.71 JAKARTA 4,180.73 +16.75 MANILA 5,202.70 +33.65 KOSPI 1,981.99 +6.64 SHENZHEN B Closed MUMBAI IND 17,318.81 +131.47 12noon EDT Change
        56 words
      • Article
        Lock icon PRIME RATES
        28 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.178 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:
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      • Article
        Lock icon FOREX
        48 2 us$ s$ US$ (S$ per US$) 1.236 (US$/S$ per 1.628 2.013 EURO(US$/S$/E) 1.324 1.636 Foreign currency per US$ S$ YEN 80.10 64.80 RM 3.031 2.451 HK$ 7.758 6.276 BAHT 30.75 24.88 RUPIAH 9,191 7,435 RENMINBI 6.310 5.104 INDIAN RUPEE 52.56 42.52 A$ 0.958 0.775 NZ$ 1.218 0.986
        48 words
    • Article
      Lock icon Jobless rate inches up to 2.1% in March
      662 2  -  Rise not expected; number of jobs created drops to 27,400 in first qtr By Chuang Peck Ming peckming@sph.com.sg Singapore AFTER hitting a 14-year low of 2 per cent in December, the unemployment rate unexpectedly crept up in March to 2.1 per cent,
      662 words
    • Article
      Lock icon Manufacturing sentiment positive for April-Sept: poll
      584 2  -  By Malminderjit Singh msingh@sph.com.sg Singapore AFTER a slow first quarter, Singapore manufacturers expect business conditions to improve but service providers here are less upbeat on the outlook for April to September 2012. Some 19 per cent of the 414 manufacturing establishments surveyed, weighted by
      584 words
    • Article, Illustration
      Lock icon Subdued growth in rest of 2012
      623 4  -  Unlike previous recoveries, growth drivers this year to be ‘skewed towards regional and domestic services’ MAS MACROECONOMIC REVIEW Reports by Teh Shi Ning tshining@sph.com.sg Singapore EVEN though Singapore’s economy turned the corner in the first quarter, expect no fired-up recovery for the rest of
      Source: EPG, MAS estimates  -  623 words
    • Article
      Lock icon Higher business costs may feed into prices later in 2012
      454 4 ANOTHER round of price hikes due to businesses passing on higher costs to customers may feed into consumer price inflation later this year. Apart from the usual suspects of accommodation and car prices, high inflation in recent months was due
      454 words
    • Article
      Lock icon Deloitte quits as auditor of China Sky
      631 5  -  It says communication inadequate and it would not be able to complete audit in near future By Lynette Khoo lynkhoo@sph.com.sg Singapore AUDITORS of China Sky Chemical Fibre have stepped down, plunging the troubled Fujianbased fibre maker into more uncertainty. The group sought to
      631 words
    • Article, Illustration
      Lock icon No ‘wealth effect’ in S’poreans’ spending: MAS
      515 5  -  By Cai Haoxiang haoxiang@sph.com.sg Singapore STOCK and property prices in Singapore go up or down, but people do not change how they spend. The lack of a so-called “wealth effect” in Singapore was highlighted by the Monetary Authority of Singapore (MAS) in its
      FILE PHOTO  -  515 words
    • Article, Illustration
      Lock icon NUS small apartment sub-index leads price gains in March
      1041 6  -  2.8% rise leaves other sub-indices biting the dust By Kalpana Rashiwala kalpana@sph.com.sg Singapore SHOEBOX apartments have been blazing the trail in terms of prices in the primary market, which comprises new developer launches. Now, they have done the same in the
      Source: Institute of Real Estate Studies, NUS  -  1,041 words
    • Article
      Lock icon Khazanah to launch $7b project at Marina South
      259 6 Kuala Lumpur KHAZANAH Nasional Bhd is launching a prestigious project, estimated to be worth over S$7 billion, at Marina South in Singapore by the end of this year or early 2013. The yet-to-be-named mixeduse integrated project will be developed by M+S Pte
      259 words
    • Article, Illustration
      Lock icon SI A not gaining from higher Changi traffic
      1359 7 Opening of integrated resorts and higher tourist spending don’t translate into more passengers for airline Bloomberg Sydney SINGAPORE Airlines (SIA) is missing the party in its own home. Tourist spending in the city jumped by half since 2008, aided by two new
      Bloomberg; AFP  -  1,359 words
    • Article, Illustration
      Lock icon SMRT Q4 profit down 59% at $13.9m
      828 8  -  Higher costs overwhelm revenue gains; firm expects profits to stay under pressure By Samuel Ee samuelee@sph.com.sg Singapore SMRT Corp’s train troubles could derail profitability in the year ahead, even as higher operating expenses and goodwill impairment on its bus operations have already caused
      FILE PHOTO  -  828 words
    • Article
      Lock icon M’sian Finance Ministry approves RM2b OSK-RHB merger
      563 8  -  By S Jayasankaran bt wo rl d @s p h .co m .sg Kuala Lumpur A LONG-AWAITED RM2 billion (S$811 million) merger between OSK Investment Bank and Malaysia’s fifth largest lender RHB Capital has been approved by the Finance Ministry, the two parties
      563 words
    • Article, Illustration
      Lock icon Asia restaurant award set for S’pore debut
      563 9  -  After strong STB lobbying, organisers of World’s 50 Best Restaurants decide to launch Asian edition By Geoffrey Eu btnews@sph.com.sg Singapore THE burgeoning F&B scene got a boost yesterday with news that Singapore will play host next year to a newly created Asian edition
      WWW.THEWORLDS50BEST.COM  -  563 words
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      Lock icon Page 2 Advertisements Column 1
      29 2 CONTENTS Shipping 28 Shipping Times 29-31 NEWS Top Stories 2-9 Companies 10-13 Singapore 14-15 SME 16-19 World 20-26 Aviation 27 Crosswords 27 Perspective 32-33 Stocks Stats 34-38 Property 39-44
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      80 3 Heartiest congratulations and best wishes to a modern furnishing marvel CONGRATULATIONS Our heartiest congratulations go out to Da Vinci on its grand opening of the Bukit Timah showroom. We share your joy on this special occasion and look forward to many more years of furnishing glory. Best Wishes From The
      80 words
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  • Page 9 Advertisements
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      Lock icon Page 9 Advertisements Column 1
      25 9 Find properties in Malaysia Whether you're looking to invest or reside in a property in Malaysia, home in on a variety of choice listings. STPROPERTY.se
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      Lock icon Page 9 Advertisements Column 2
      89 9 REAlISilrffBig Ithe'lea i n g]bung alow l speci a us t i mi PricedfR^eM!! M aster p i Hill Hurryll SwissjoIub?^c^/^ocTo(a p p x )X$ 2 2 M| i. nii 7*" 1 1 "*!■< .jl^AndreWjRoaa?iQqoo/j7^oo(appx)r$~2XMB A magnificent nostalgic colonial villa on expansive endless greens. A complete immersion to tranquility. Listen
      89 words
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon CapitaLand’s Q1 profit jumps 31.3% to $133m
      520 10  -  Results include over $60m of portfolio and net fair value gains By Mindy Tan tanmindy@sph.com.sg Singapore CAPITALAND yesterday posted a net profit of $133.2 million for the first quarter of 2012, a 31.3 per cent jump over the same period last year. According
      FILE PHOTO  -  520 words
    • Article
      Lock icon DBS to hold off on takeovers after Danamon: Gupta
      603 10 Bloomberg Singapore DBS Group Holdings will hold off on making acquisitions for the next one to two years following its US$7.2 billion offer for PT Bank Danamon Indonesia, chief executive officer Piyush Gupta said. DBS made the bid on April 2
      Bloomberg  -  603 words
    • Article
      Lock icon Market value of S’pore bourse falls $9.5b in April
      899 11  -  Market cap of stocks stands at $808.1 b as investors take profit against a backdrop of volatile trading and low liquidity By Lynette Khoo lynkhoo@sph.com.sg Singapore PROFIT-TAKING by investors amid continued market volatility and low liquidity wiped $9.5 billion off the
      899 words
    • Article
      Lock icon Christine Lie to lead SGX’s China operations
      210 11 IN a bid to ensure a strong growth momentum in China, the Singapore Exchange (SGX) has made a new appointment to lead its operations there. With effect from today, Christine Lie will take over the responsibilities of chief representative for SGX Beijing Representative
      210 words
    • Article, Illustration
      Lock icon Boring and featureless trading ahead of holiday
      928 12  -  STOCKS R Sivanithy sivan@sph.com.sg Senior correspondent THE Hang Seng Index may have shot up 1.7 per cent yesterday but there was virtually no sympathetic response here, the Straits imes Index labouring to a 3.01-point loss at 2,978.57 on the eve of the Labour
      928 words
    • Business briefing
    • Article, Illustration
      Lock icon Raffles Medical posts 10.9% rise in Q1 profit
      398 13  -  Revenue up 1 3.2% at $72.9m; new clinic branches added in 2011 help group grow patient load, revenue By Nisha Ramchandani nishar@sph.com.sg Singapore RAFFLES Medical Group (RMG) posted a 10.9 per cent growth in net profit to $11.62 million for the first
      FILE PHOTO  -  398 words
    • Article
      Lock icon IndoAgri net profit falls 27% despite revenue gains
      249 13  -  By Angela Teng angeteng@sph.com.sg Singapore INDOFOOD Agri Resource Ltd (IndoAgri) yesterday posted a 27 per cent drop in net profit to 377 billion rupiah (S$50.6 million) for the first quarter ended March 31. This works out to earnings per share of 262
      249 words
    • Article
      Lock icon HKEx confirms interest in LME auction
      128 13 Reuters Hong Kong THE operator of Hong Kong stock exchange on Monday confirmed its interest in the auction process for London Metal Exchange (LME), which is estimated to be worth between £500 million and £1.5 billion pounds (S$1-3 billion). LME said late last year
      Reuters  -  128 words
    • Article
      Lock icon Aspial Q1 gain up 14% at $8.1m; 1-for-5 bonus issue proposed
      374 13  -  By Jasmine Ng jasng@sph.com.sg Singapore JEWELLER Aspial Corporation which has Citigems, Goldheart and Lee Hwa jewellery under its umbrella saw its first-quarter net profit rise 14 per cent year-on-year to $8.06 million. However, quarterly earnings per share declined 44
      374 words
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      109 11 Learn about investment through the Updated on a weekly basis Understand the meaning of various financial terminologies (such as “Dividend Payout Ratio” and “Stock Beta”) and how to use them Learn the basics of investing in shares Make sense out of all the financial mumbo-jumbo by visiting blog.shareinvestor.com Scan QR
      109 words
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  • SINGAPORE NEWS
    • Article
      Lock icon Consumer confidence higher in Q1
      377 14  -  Singaporeans now more positive on recession, economy and employment: Nielsen survey By Lim Wei Sheng limwsg@sph.com.sg CONSUMER confidence levels are regaining some lost ground, according to a Nielsen survey. The Consumer Confidence Index for Singapore reached 96 points in the first quarter, edging two points
      377 words
    • Article
      Lock icon UK football club tour packages soon
      391 14  -  By Lee U-Wen leeuwen@sph.com.sg IF you have always wanted to catch your favourite Barclays Premier League (BPL) team in action, that opportunity will soon be just a phone call away. Thomas Cook Sport, a leading British sports tour operator, has announced a new one-year
      391 words
    • Article, Illustration
      Lock icon OCBC gives $8m for Gardens projects
      312 14  -  By Arthur Lee arthurl@sph.com.sg GARDENS by the Bay yesterday received its largest corporate sponsorship to date. The $8 million donation from OCBC Bank, to be spread over the next 18 years, is the bank’s way of giving back to society in celebrating its 80th
      ARTHUR LEE  -  312 words
    • Article
      Lock icon Neste Oil’s S’pore plant gets nod to export to US
      342 14  -  By Ronnie Lim ronnie@sph.com.sg FINNISH refiner Neste Oil which recently supplied the first batch of its NExBTl renewable diesel to the US market said that its $1.2 billion Singapore plant has also just been certified by the US to export
      342 words
    • Article
      Lock icon SBF names new chairman
      292 15  -  Great Eastern chairman Fang Ai Lian takes over from Sat Pal Khattar By Joshua Tan joshtan@sph.com.sg FANG Ai Lian will assume the chairmanship of the board of trustees of Singapore Business Federation (SBF). Ms Fang, who is presently chairman of Great Eastern Holdings Group, succeeds Sat
      292 words
    • Article
      Lock icon Maintain the good Singapore brand name with a bigger regional role
      626 15  -  COMMENTARY By Malminderjit Singh msingh@sph.com.sg THAT Singapore has achieved much in terms of economic and social development in its short history is widely known. What is less commonly known is the respect it gets internationally for these achievements. This
      626 words
    • Briefing
      • Article
        Lock icon $10m to develop alternative microbial platforms
        102 15 TEMASEK Life Sciences Laboratory (TLL) has been awarded a grant close to $10 million by the Singapore National Research Foundation (NRF) under its Competitive Research Programme. The funding will be used to develop alternative microbial platforms for the production of flavours and fragrances compounds
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      • Article
        Lock icon URA launches Boon Lay Way residential site
        117 15 THE URA has launched the residential site at Boon Lay Way (Jurong Gateway) for sale by public tender yesterday. The land parcel was made available for sale through the Reserve List system on Dec 22 last year. On April 16, URA said that
        117 words
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  • SME INC
    • Article, Illustration
      Lock icon Raising the bar for private education
      1124 16  -  New requirements are a positive development helping to rebuild the credibility of PEIs. By Kelly Tay A LOOK AT THE PRIVATE EDUCATION BUSINESS By Kelly Tay kellytay@sph.com.sg THE perception that the number of private education institutions (PEIs) has been severely whittled down in recent
      ARTHUR LEE  -  1,124 words
    • Article
      Lock icon Small schools can make the grade, too
      647 17  -  New rules will make them up their game or merge for a healthier industry in the long run. A LOOK AT THE PRIVATE EDUCATION BUSINESS By Kelly Tay kellytay@sph.com.sg WHILE the Council for Private Education’s (CPE) new regulations have by and large been
      647 words
    • Article, Illustration
      Lock icon Surviving the school of hard knocks
      717 18  -  First Media Design School shows that the CPE’s high standards are not beyond the reach of smaller private education institutions. By Kelly Tay A LOOK AT THE PRIVATE EDUCATION BUSINESS By Kelly Tay kellytay@sph.com.sg WITH a 2010 turnover of just $1.5 million and only
      ARTHUR LEE  -  717 words
    • Article, Illustration
      Lock icon Serving up portions of quality education
      868 19  -  Adopting EduTrust standards has made At-Sunrice a stronger private education institution. A LOOK AT THE PRIVATE EDUCATION BUSINESS By Kelly Tay kellytay@sph.com.sg CULINARY school At-Sunrice GlobalChef Academy never would have guessed that it would be the little things which would prove most laborious to
      YEN MENG JIIN  -  868 words
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      27 17 The SME Magazine Coming to you tomorrow with your copy of The Business Times! AND SUBSEQUENTLY ON EVERY FIRST WEDNESDAY OF ALTERNATE MONTHS In this issue: >> r1B&.
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  • WORLD
    • Article
      Lock icon Minefield of bribery risks in China
      851 20 Foreign companies have to tread carefully to avoid breaking local or home-country laws Reuters Shanghai FOREIGN companies doing business in China must navigate a business culture in which bribery is rife, finding ways to remove obstacles to expanding in the world’s second-largest economy without
      Reuters  -  851 words
    • Article, Illustration
      Lock icon China steelmakers in the red in Q1
      328 20 Xinhua Beijing CHINA’S steelmakers lost steam and fell back into losses in the first quarter as the economy decelerated, according to the latest data provided by the country’s top economic planner yesterday. Major steel-mak-ing companies posted a combined loss of 1.03 billion yuan
      Xinhua; REUTERS  -  328 words
    • Article
      Lock icon Beijing to cut tariffs to encourage imports
      204 20 Bloomberg Shanghai CHINA plans to lower tariffs on some products to encourage imports as the nation seeks to alleviate pressures on domestic resources and reduce trade conflicts, the State Council said in a statement yesterday. China’s Cabinet called on local governments and departments
      Bloomberg  -  204 words
    • Article, Illustration
      Lock icon Bumi Armada slides further on stock disposal
      503 21  -  Its shares lose 6.5% over past two trading days; analysts maintain buy call, however By Pauline Ng btworld@sph.com.sg Kuala Lumpur SHARES of integrated oil and gas specialist firm Bumi Armada Bhd continued to slide yesterday as investors reacted to news that four stakeholder
      THE STAR  -  503 words
    • Article
      Lock icon China regulator issues new IPO guidelines
      400 21  -  By Theresa Tang EJ Insight Hong Kong THE China Securities Regulatory Commission (CSRC) unveiled on Sunday its final guidelines on new rules for initial public offerings (IPOs) in a bid to improve disclosures and ensure more reasonable pricing of new share issues. The guidelines
      EJ Insight  -  400 words
    • Article
      Lock icon Telenor may leave India as fee spat spurs write-off
      171 21 Bloomberg Mumbai TELENOR ASA says it may have to exit India, the world’s second-largest mobile market, after the country’s telecommunications regulator proposed an 11-fold increase in licence fees. Acceptance by the Indian government of the regulator’s plan would amount to “forcing
      Bloomberg  -  171 words
    • Article, Illustration
      Lock icon Move over Groupon et al, it’s e-gifting time
      1010 22 Social gifting sees over 165,000 users buy each other 1.4m cards; e-gift start-ups get millions in venture capital Reuters Chicago LAST year, the buzzword in e-commerce was Groupon Inc and its myriad of competitors that offered daily online coupons to entice shoppers
      Reuters; BLOOMBERG  -  1,010 words
    • Article, Illustration
      Lock icon RBA seen cutting interest rates as inflation slows
      1091 23 Pressure to counter slumping exports and job losses spurred by A$’s 48% gain since 2009 Bloomberg Sydney RESERVE Bank of Australia (RBA) governor Glenn Stevens is set to begin the biggest round of interest rate cuts in three years after faltering economic
      Bloomberg; BLOOMBERG  -  1,091 words
    • Article
      Lock icon Billions earned, now let’s work for humanity
      821 24 Moskovitz, his friend head Asana, a start-up that offers online project management service AP San Francisco FACEBOOK co-founder and former Mark Zuckerberg roommate Dustin Moskovitz is by many accounts the world’s youngest self-made billionaire. But the 27-year-old isn’t sipping champagne in the Caribbean.
      AP  -  821 words
    • Article, Illustration
      Lock icon NAB to axe 1,400, take US$740m charge
      619 24 Reuters Melbourne NATIONAL Australia Bank will cut 1,400 jobs in the UK and take charges of US$740 million after deciding it was too hard to sell or expand its UK banking business in a depressed market, it said yesterday as it flagged a
      Reuters; BLOOMBERG  -  619 words
    • Article, Illustration
      Lock icon Najib announces first-ever minimum wage
      606 25 Peninsular Malaysia workers to get at least RM900, those in Sabah-Sarawak RM800 Reuters Kuala Lumpur MALAYSIAN Prime Minister Najib Razak announced the country’s first minimum wage yesterday, moving to regain the political initiative after violence at weekend protests raised doubt about the timing of elections
      Reuters; AFP  -  606 words
    • Article
      Lock icon ILO warns of 202m unemployed in 2012
      546 25 AFP Geneva THE International Labour Organisation warned yesterday that austerity measures are hurting job markets worldwide and predicted global unemployment of 202 million people in 2012, up six million from last year. The ILO’s World of Work Report 2012 said fiscal austerity and
      AFP  -  546 words
    • Article
      Lock icon Consumer spending up in March as incomes rise
      514 26 Q1 growth slows as businesses cut back on investment LATEST US DATA Bloom berg Reuters Washington US HOUSEHOLD income rose in March by the most in three months but consumers socked away part of the extra cash and only modestly increased spending,
      Bloomberg; Reuters  -  514 words
    • Article
      Lock icon Eurozone lending growth slows in March
      376 26 Reuters Frankfurt Growth in lending to eurozone firms and consumers slowed in March as banks scaled up purchases of government bonds, showing that an ambitious funding drive by the European Central Bank (ECB) has yet to trickle down to the real economy. Yesterday’s ECB
      Reuters  -  376 words
    • Article, Illustration
      Lock icon French, Greek elections bring austerity criticisms into focus
      554 26 Bloomberg Berlin A RECESSION in Spain and forecasts of rising unemployment in the 17-nation euro area are amplifying criticism of the Ger-man-led austerity agenda in election campaigns this week in France and Greece. With Spain’s largest unions leading marches involving thousands of
      Bloomberg; REUTERS  -  554 words
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  • AVIATION
    • Article
      Lock icon Delta Air’s expected refinery buy a risky one
      820 27 US airline, refining industries both in crisis, with East Coast refining near insolvency Reuters New York DELTA Air Lines’ expected bid to buy a Pennsylvania oil refinery has had people in both industries joking that a company from the money-losing airline sector
      Reuters  -  820 words
    • Article, Illustration
      Lock icon China Eastern to buy 20 Boeing 777s, sell 5 A340S
      222 27 AP Hong Kong CHINA Eastern Airlines Co is buying 20 Boeing 777 jets worth nearly US$6 billion while also selling five Airbus A340s to the US plane maker because they’re costlier to run, the Shanghai-based airline said yesterday. The airline
      AP; REUTERS  -  222 words
  • Page 27 Miscellaneous
    • Miscellaneous
      Lock icon Page 27 Miscellaneous Column 1
      327 27 CRYPTIC CROSSWORD Across 4 Memento taken from part of castle before Eastern drink (8) 8 Woman’s in resort getting help in high places (6) 9 Rudimentary island with nothing beside brewed tea (8) 10 Female garment a shopkeeper’s responsibility? (8) 11 Woman keeping quiet describing bog? (6) 12 Frivolous fellow
      327 words
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  • SHIPPING
    • Article, Illustration
      Lock icon China mulls sovereign guarantees for ships
      543 28 Aim is to continue importing Iranian crude after new EU sanctions take effect in July Reuters Beijing CHINA is considering sovereign guarantees for its ships to enable the world’s second-biggest oil consumer to continue importing Iranian crude after new EU sanctions come into effect
      Reuters; REUTERS  -  543 words
    • Article
      Lock icon TRANSPORT STOCKS
      259 28 SGX '000 Apr 30 S$ +/-Vol CH Offshore 0.47 0.02 4314 Chuan Hup Hldg 0.24 unch 160 Cosco Corp 1.04 -0.03 5169 s$ Ezra Hldgs 1.01 unch 3960 First Ship Lea 0.20 unch 899 Freight Links 0.06 unch 1192 Grand Banks unch unch 0 Jaya Hold Ltd 0.57
      259 words
    • Article, Illustration
      Lock icon Aussie tycoon sets 2016 target to build Titanic II
      490 28 AFP Sydney ONE of Australia’s richest men yesterday unveiled plans to build a 21st-century version of the doomed Titanic in China, with its first voyage from England to New York set for 2016. Clive Palmer, a self-made mining billionaire, said he
      AFP; AP  -  490 words
    • Article, Illustration
      Lock icon Fortescue seen a cheap gateway into China
      601 31 Australian producer, with appealing growth profile, trading at half its valuation a year ago Bloomberg Sydney WITH Fortescue Metals Group Ltd’s earnings poised to almost triple, companies looking for a gateway to ship iron ore to China can still acquire the Australian producer
      Bloomberg; REUTERS  -  601 words
    • Article
      Lock icon The Business Times SHIPPING TIMES
      2071 29 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
      2,071 words
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon N arrowing the great economic divide
      1676 32/33  -  Startling revelations from a BBC 22-country survey on the distribution of economic burden and benefits Vikram Khanna vikram@sph.com.sg ssociate Editor ARE economic burdens and benefits fairly distributed in your country? That was the question posed to 12,000 people in 22 countries by pollsters for
      BLOOMBERG; Source: The World Top Incomes Database  -  1,676 words
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  • Article
    Lock icon SINGAPORE STOCKS
    8043 34 Transaction date: Apr 30 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 16.5 11.5 8Telecom 14xd 12.1 16 66.8 0.4 3.4 67 9.5 4 A-Sonic 5 -0.3 40 5 5 5 5.4 2.6
    8,043 words
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  • Article
    Lock icon SGX CATALIST
    1790 37 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 $mil 34 12.1 t 800 Super 16.8 16.2 16.8 4.7 3.3 6.5 30 4.5 2.5 t AA Grp 3.3 3.3 4 3.2 164 39 t APStrategic
    1,790 words
  • Article
    Lock icon SECURITIES TRADING SCOREBOARD
    186 37 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 7 2 0 0 0 8 7 2 Manufacturing 41 58 36 8 11 8 49 69 44 Commerce 13 30 20 3 6 2 16 36 22 Tpt/Stor/Comms 15 17 8
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  • Article
    Lock icon BT SHARE INFORMATION SERVICE
    829 37 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Apr 23 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) OCBC 26-Apr-12 David Philbrick Conner *Buy 381 na 759 0.02 1140 0.03 Swing Media Tech 26-Apr-12 Hui
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  • Article
    Lock icon SECURITIES TRADING TURNOVER
    123 37 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 16,820 16,820 93,235 93,235 Manufacturing 208,897 240,219 449,116 159,435 3,300 162,735 Commerce 748,671 19,913 768,584 152,477 1,017 153,493 Tpt/Stor/Comms 110,104 18,418 128,522 169,753 6,205 175,958 Finance 33,507 30 33,537 328,072 6 328,078 Construction 181,979 26,569
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  • MARKETS
    • Article
      Lock icon LIFFE
      80 38 Apr 27 COCOA (£/tonne) Close Prev High/Low May 12 1515 1498 1520/1486 Jul 12 1531 1508 1537/1499 Sep 12 1519 1496 1524/1486 Dec 12 1505 1486 1507/1472 COFFEE(US$/tonne) Close Prev High/Low May 12 1964 1984 1984/1960 Jul 12 1996 2011 2012/1988 Sep 12 2003 2014 2015/1997 Nov 12 2000
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    • Article
      Lock icon METALS
      69 38 Apr 30 GOLD(US$/oz) Apr 30 Apr 27 Hong Kong 1671.40 1661.00 Hong Kong Apr 27 Apr 26 London 1663.80 1655.50 1664.55 1656.25 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 39.09 38.44 Source: UOB PLATINUM/ Lon (US$/oz) Apr 27 Close Previous PM Fix 1573.00 1555.00 AM Fix 1567.00
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    • Article
      Lock icon PALM OIL
      60 38 Apr 30 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 12 3480.0 3486.0 3498.0 3475.0 311 3347 Jun 12 3503.0 3509.0 3513.0 3497.0 2299 ***** Jul 12 3495.0 3505.0 3505.0 3486.0 8937 ***** Aug 12 3478.0 3486.0
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    • Article
      Lock icon GOVERNMENT SECURITIES
      88 38 Source: Monetary Authority of Singapore Apr 30 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 02-Aug-12 0.25 0.2 0.18 1-Year BY*****T 02-May-13 0.26 0.22 0.22 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.250 01-Feb-14 100.1
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 38 Apr 30 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2899 1.2914 1.0435 1.0446 Canadian dollar 1.2593 1.2601 1.0187 1.0193 Euro 1.6361 1.6367 1.3236 1.3239 NZ dollar 1.0142 1.0151 0.8205 0.8211 Sterling pound 2.0125 2.0134 1.6281 1.6286
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    • Article, Illustration
      Lock icon SMX MARKET UPDATE
      111 38 As on 27 April 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT JUN2012 1667.50 1651.50 1665.00 213 CURRENCY AUD-USD FUT JUN2012 1.0419 1.0323 1.0413 1132 EUR-USD FUT JUN2012 1.3271 1.3161 1.3262 2530 BASE METAL COPPER FUT MAY2012 8408 8291 8424 2467
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    • Article
      Lock icon CHICAGO BOT
      103 38 Apr 27 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low May 12 1496.75 1481.25 1509.00 1483.25 Jul 12 1493.50 1480.25 1506.75 1481.50 Aug 12 1466.75 1453.25 1477.75 1455.00 Sep 12 1410.00 1402.25 1422.50 1401.00 SOYBEAN/OIL(60,000 lbs; USc/lb) Close Previous High/Low May 12 55.18 55.37 55.83 55.03
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    • Article
      Lock icon OIL
      74 38 Apr 27 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 119.31 -0.56 WTI (Near Mth) 104.83 0.26 Dubai (1-Mth F) 116.16 0.21 Tapis blend 126.72 1.06 Minas 126.02 0.36 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 111.72 0.05 Jet Kerosene 132.74 -0.06 US$/barrel OpecOil Basket Price 117.14
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      374 38 MORGAN STANLEY CAPITAL IN T'L INDICES In local curr In S$ In US$ dy yr dy yr dy yr Apr 27 Index Change Change Change Change Change Change World Preliminary 903.6 0.2 8.9 0.1 4.8 0.3 9.7 EAFE Preliminary 724.9 0.2 6.3 0.3 2.9 0.5 7.7 Europe Preliminary 1071.2 0.7
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      118 38 Apr 30 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.324 1.261 Can dollar 1.291 1.23 Euro 1.677 1.598 Sterling pound 2.054 1.975 NZ dollar 1.047 0.998 US dollar 1.256 1.208 Local dollars to 100 units of foreign currency: Currencies Sell
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    • Article
      Lock icon LONDON METALS
      69 38 Apr 27 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2069.50 2046.50 3 months 2108.00 2086.00 Copper, Grade A (US$/tonne) Cash 8564.00 8454.00 3 months 8415.00 8320.00 Lead (US$/tonne) Cash 2139.75 2115.00 3 months 2140.00 2122.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
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    • Article, Illustration
      Lock icon STOCK MARKETS
      116 38 Straits Times Index YTD change:+12.55% 52-week high: 3,227.28 on Aug 1,2011 52-week low: 2,521.95 on Oct 5,2011 Source: Bloomberg Hang Seng Index YTD change: +14.43% 52-week high: 23,924.40 on May 3,2011 52-week low: 16,170.30 on Oct 4,2011 Source: Bloomberg Dow Jones Industrial Average YTD change: +8.27% 52-week high:
      Source: Bloomberg  -  116 words
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  • PROPERTY
    • Article, Illustration
      Lock icon Manhattan apartment blocks at record highs
      1420 39 Capitalisation rate averages 4.4% in Q1 the lowest since Q3 of 2005 Bloomberg New York REAL estate investors competing to buy Manhattan apartment buildings have sent prices to record highs as rental demand surges, reducing yields on the properties to the lowest in more
      Bloomberg; BLOOMBERG  -  1,420 words
    • Article, Illustration
      Lock icon Reits step up buying of US mortgage bonds
      2079 40 Their growth, use of unlimited short-term leverage may create new risks despite playing important role in market Bloomberg New York ANNALY Capital Management Inc chief executive officer Mike Farrell was paid US$35 million last year, more than the CEOs of the six
      Bloomberg; AP; BLOOMBERG  -  2,079 words
    • Article, Illustration
      Lock icon Starwood plans to return to Iraq 20 years after Gulf War
      410 42 Company has signed agreements to operate two hotels in Erbil, Iraq Bloomberg Dubai STARWOOD Hotels Resorts Worldwide Inc, owner of the luxury St Regis and W brands, plans to reenter the Iraqi market, almost 20 years after exiting as
      Bloomberg; REUTERS  -  410 words
    • Article
      Lock icon Israel’s top hotelier expands in Europe
      487 42 Reuters Tel Aviv ISRAEL’S biggest hotel chain, Fattal, expects strong growth from its expansion in Europe, where it has over 30 properties and several more are being planned, the company’s owner and managing director said. The chain, whose hotels in Europe are mostly branded
      Reuters  -  487 words
    • Article
      Lock icon Jumeirah has sealed 50 hotel contracts
      176 42 Bloomberg Dubai JUMEIRAH Group LLC, the company that operates Dubai’s sail-shaped Burj Al Arab, has agreements to manage 50 hotels, short of its target for 60 agreements by 2012, its executive chairman said. The closely held company, which operates luxury hotels and resorts owned
      Bloomberg  -  176 words
    • Article, Illustration
      Lock icon New hotels rise from Haitian ruins
      1123 43 Over US$1 00m in fresh investment will create thousands of jobs in earthquake-stricken nation hit by political turmoil AP Port-au-Prince, Haiti GLIMMERS of hope are coming to this devastated capital and its surrounding cities, as the concrete Royal Oasis hotel rises over a metropolitan
      AP  -  1,123 words
    • Article
      Lock icon Spain mulls plan to clear bad debt off banks’ balance sheets
      487 44 New agency could take on bad loans to be sold off, for which banks make provisions: source AFP Madrid SPAIN’S government said yesterday it is studying a scheme to remove the massive weight of bad property-related loans crushing the
      AFP  -  487 words
    • Article, Illustration
      Lock icon UK house prices rise in April: Hometrack
      317 44 Bloomberg London UK house prices rose in April for a second month, according to Hometrack Ltd, which said gains may not be sustained as demand fails to keep up with supply. Values rose 0.1 per cent from March, when they increased 0.2 per
      Bloomberg; BLOOMBERG  -  317 words
    • Article
      Lock icon New house consents in NZ bounce back in March
      332 44 Reuters Wellington THE number of new dwelling consents approved in New Zealand bounced back sharply in March, driven by an increase in the number of apartments. The number of consents rose a seasonally adjusted 19.8 per cent on the previous month,
      Reuters  -  332 words
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      Lock icon Page 41 Advertisements Column 1
      48 41 FOR SALE k .TVS// A Br/ I Mixed Use Soho Investor Building Conservation near River Heritage series with six subdivided units Near Robertson Quay, upmarket area 999 years, commercial /residential zoning Investment returns/capital appreciation Local purchasers eligible Call 6222 5055 Email: susan@isabelredrup.com Agency Licence No: L*****87E www.isabelredrup.com/irl l.php
      48 words
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