The Business Times, 2 May 2012
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2012-05-02
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The Business Times
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Title Section25 2012-05-02 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 Wednesday, May 2, 201225 words
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Article, Illustration976 2012-05-02 1 CAI HAOXIANG - Only realistic way is step by step, with wages and productivity rising in tandem By CAI HAOXIANG [SINGAPORE] Prime Minister Lee Hsien Loong has put in what employers hope will be the final word on Professor Lim Chong Yah’s controversial proposal for aTED CHEN/THE STRAITS TIMES - 976 words
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974 2012-05-02 1 SIOW LI SEN - They bank on other services to woo rich Chinese clients By SIOW LI SEN [SINGAPORE] Private banks are rolling with the punch from the abrupt change in Singapore’s permanent residency rules, citing other services they provide to their clientele of wealthy Chinese.974 words
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Page 1 Advertisements
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Advertisement85 2012-05-02 1 FUTURE OF TRADE Moving metals and scrap around the world PAGE 9 8 "*****1 *****4 Perpetual fascination LU.C Lunar One CHOPARD BOUTIQUES #01-03 Takashimaya S.C.,Tel. 6733 8111 Bi-ioyThe Shoppes at Marina Bay Sands,Tel. 6688 7999 -#02-106 Resorts World Sentosa.Tel. 6723 8016 CORTINA WATCH: Paragon,Tel: 6235 0084- DICKSON WATCH JEWELLERY; Knightsbridge,Tel.85 words
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Advertisement39 2012-05-02 1 TRANSPORT HUB Need of the hour: blue-sky thinking PAGE 19 Want to know the going prices of strata office, warehouse and factory space? Get a snapshot in The SME Magazine, and the full list in BT Invest at www.btinvest.com.sg39 words
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Advertisement47 2012-05-02 1 EXEC MONEY Seeking new frontiers in investing PAGE 30 Should SMEs worry about the competition law?And how can they tap into the government’s Productivity and Innovation Credit scheme? Find out in The SME Magazine, free with your copy of The Business Times today. Get your copy today!47 words
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Advertisement10 2012-05-02 1 MURDOCH Unfit to run international company: British MPs PAGE 210 words
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TOP STORIES
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Article346 2012-05-02 2 PM: Prof Lim’s proposal won’t work PRIME Minister Lee Hsien Loong has put in what employers hope will be the final word on Professor Lim Chong Yah’s controversial proposal for a second wage revolution to close the income gap. Mr Lee said it will hit two major groups346 words
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741 2012-05-02 2 GRACE LEONG - Genting S’pore’s top management also sees significant pay increases in 2011 By GRACE LEONG [SINGAPORE] Las Vegas Sands Corp’s (LVS) top executives laughed all the way to the bank when they received their 2011 pay packages, thanks to stellar growth from741 words
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478 2012-05-02 2 Reuters [LONDON] Rupert Murdoch is unfit to run a major international company, British lawmakers said yesterday, finding him responsible for a culture of illegal phone hacking that has convulsed his News Corporation media empire. Pulling few punches, the lawmakers listed failings of theReuters - 478 words
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Article, Illustration606 2012-05-02 4 CAI HAOXIANG - Workers ready to boost productivity for higher wages but bosses not active enough By CAI HAOXIANG [SINGAPORE] When it comes to boosting their wages, workers are ready to learn but bosses have to take the lead, said Stephen Lee, president of the SingaporeFILE PHOTO - 606 words
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Article, Illustration1097 2012-05-02 4 CAI HAOXIANG - By CAI HAOXIANG [SINGAPORE] Time does not stop for Singapore workers even as they took a well-deserved breather on May Day. In the last 10 years, the Singapore workforce has aged noticeably. But the typical worker is now more educated, earning more, andSources: Report on Labour Force in Singapore 2011, Singaporeans in the Workforce Oct 2011, Yearbook of Statistics 2011, published by the Ministry of Manpower and the Singapore Department of Statistics - 1,097 words
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Page 3 Advertisements
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Advertisement49 2012-05-02 3 A//? Europe's Best Airline A STAR ALLIANCE MEMBER Dining room. 1 B Living room. Bedroom. v BUSINESS CLASS Full flat-bed seats, best in-flight entertainment and Flying Chef service. Fly to more than 200 destinations via Istanbul with our A330-300 and B777-300 ER aircraft. turkishairlines.com 6732 4556 TURKISH (jf% AIRLINES49 words
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Page 4 Advertisements
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Advertisement211 2012-05-02 4 TMC Academy Open up career possibilities with an MBA from University of Aberdeen s I ft flSgS) 1 p UNIVERSITY of ABERDEEN ABOUT THE UNIVERSITY Founded in 1495 ■/5 Nobel Prizes awarded for work carried out or begun at Aberdeen 90% of research activity is of international quality •/Over 150211 words
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COMPANY NEWS
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Article, Illustration616 2012-05-02 5 LEE U-WEN - SingPost has tapped e-commerce and technology By LEE U-WEN LONG before “productivity” became a buzzword, one well-known local company was already busy thinking out of the box or in its case, the letterbox on how best to boost its operational efficiency. And the manARTHUR LEE - 616 words
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725 2012-05-02 5 VEN SREENIVASAN - HOCK LOCK SIEW By VEN SREENIVASAN CASH-RICH, low price-earnings, solid earnings track record, dividend payout of over 7 per cent, a solid business, zero gearing, and trading at a significant discount to book value. These would be the qualities of a dream stock. The dream725 words
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Article676 2012-05-02 6 Q1 results ended March 2012 NET PROFIT (S$M) TURNOVER (S$M) COMPANY CURRENT PREVIOUS CHG CURRENT PREVIOUS CHG DBS Group 933.00 807.00 15.6 2156.00 1909.00 12.9 Keppel Corp 750.77 311.50 141.0 4265.60 2287.95 86.4 Jardine C&C 333.86 314.88 6.0 6968.93 5862.90 18.9 Yangzijiang 203.54 190.97 6.6 737.25 657.23676 words
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290 2012-05-02 6 GROSS REDEMPTION YIELD COUPON NUMBER OF DAYS OF ACCRUED INTEREST INTEREST PAYMENT DATES AMOUNT ($m) COUPON RATE CLOSING CLOSING PRICES* (EXCLUDING ACCRUED INTEREST) YEAR RAISED ISIN CODE MATURITY DATE 01.07.2012 NX*****S 2002 3 1/2 3400.00 1/1 1/7 120 100.53 0.38 SG**********290 words
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Article, Illustration16 2012-05-02 6 Note: Net profit refers to profit attributable to equity holders Compiled by BTCompiled by BT - 16 words
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178 2012-05-02 6 PROPERTY developer SC Global is expecting a net loss of $10 million for the quarter ended March 31. The firm has released a market update and guidance on its Q1 financial results, saying the expected loss compared with its $72.8 million178 words
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Page 5 Advertisements
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Advertisement38 2012-05-02 5 In uncertain times, you need a sound Multi-expert asset manager Seven strings in harmony, AXA INVESTMENT MANAGERS composes your Investment Solutions 18-PUB-SG-6998 AXA Investment Managers Asia Limited Tel: +852 2285 2000 Fax: +852 2285 2999 Email: axaimasiasales&marketing@axa-im.com www.axa-im.com38 words
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Page 6 Advertisements
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Advertisement244 2012-05-02 6 Short term LNG supplies available in Singapore next year BG GROUP B BG Singapore Gas Marketing (BGSGM) is currently holding its first open season for potential buyers to secure regasified LNG (liquefied natural gas) within Singapore on a shortterm basis (upto12 months). The new regasification terminal currently under construction by244 words
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Page 7 Advertisements
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Advertisement81 2012-05-02 7 Heartiest congratulations and best wishes to a modern furnishing marvel DAVINCI GRAND OPENING Congratulations Our heartiest congratulations go out toDa Vincion its grand opening of the Bukit Timah showroom. We are privileged to be part of the limelight and look forward to a more fulfilling and immersive viewing experience for81 words
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SINGAPORE NEWS
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Article, Illustration450 2012-05-02 8 GEOFFREY EU - Iggy’s, rated best in Asia, ranked 26th with Waku Ghin in 39th position By GEOFFREY EU TWO Singapore restaurants made it onto The World’s 50 Best Restaurants list, with Iggy’s (26 on the list) snagging Best Restaurant in Asia honours and Tetsuya Wakuda's450 words
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Article, Illustration539 2012-05-02 8 AMANDA EBER - Risk averse mindsets and investors hinder its reproduction here By AMANDA EBER AMID the hype about Singapore becoming the “Silicon Valley of Asia”, there is one man who stands apart from the crowd. Jonathan Lee, vice-presi-dent of commercialisation and ventures at Cradle Fund539 words
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189 2012-05-02 8 THE People’s Action Party (PAP) has appointed new chairmen in the Paya Lebar and Serangoon wards of Aljunied Group Representation Constituency (GRC). K Muralidharan Pillai takes over from Cynthia Phua in Paya Lebar, while Poon Mun Wai replaces Lim Hwee Hua189 words
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Article, Illustration317 2012-05-02 8 AMANDA EBER - By AMANDA EBER SUCCESSFUL supply chain management entails a shift from yesterday’s emphasis on efficiency to flexibility today, according to a consultant. “[Supply chain] volatility is not new,” said Mark Pearson, global managing director of Accenture’s operations consulting practice. “But two things haveAP - 317 words
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Page 8 Advertisements
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Advertisement211 2012-05-02 8 nommunioHsia2ai2 Marina Bay Sands, Singapore Broadcasts sia2012 Suntec Singapore 19-22 June 2012 Register online before 8 June! Visit Asia’s largest ICT, digital multimedia entertainment event Witness revolutionary technologies A Cloud services and security H Digital media asset management "a* DVB-T2 ‘Fibre’ for NextGen services M2M mCommerce ,v5) Ud OTT Satellite211 words
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Advertisement20 2012-05-02 8 CHARTING DIRECTIONS Place your AGM and EGM notices in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. WATS NOTICES20 words
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FUTURE OF TRADE
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Article, Illustration1239 2012-05-02 9 CONRAD TAN - Started in 2005, Gold Matrix Resources now has turnover of US$600m. By CONRAD TAN BARELY seven years old, Gold Matrix Resources is one of the biggest metal traders in Asia. Yet it has a staff of just 12 people, including founder and managing directorARTHUR LEE - 1,239 words
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505 2012-05-02 9 WILLIE THAM - Three industries are expected to do well in coming years By WILLIE THAM The writer is managing director and head of commercial banking, HSBC Singapore INDIA is the world’s largest democracy and second most populous country, and is connected by the world’s third largest505 words
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Page 9 Advertisements
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Advertisement134 2012-05-02 9 In the future, there will be no markets waiting to emerge. By 2050, it is forecast that 19 of the 30 largest economies by GDP will be countries we now call 'emerging'*. But how will this new world order stack up for your business? At HSBC we understand emerging markets134 words
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ECONOMY WATCH
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Article, Illustration653 2012-05-02 10 The combination of tax cut expiry and automatic budget cut will kill recovery [WASHINGTON] The United States is rushing toward a fiscal cliff that could kill the recovery, thrust the world deeper into crisis and “hollow out” the US military, yet thereAFP - 653 words
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676 2012-05-02 10 Bloomberg [NEW YORK] Nobel Prize-winning economist Paul Krugman suggested that Federal Reserve policy makers led by Ben S Bernanke are “reckless” for not pursuing a higher inflation rate, which he said could lower US joblessness. “The reckless thing is to allow massBloomberg - 676 words
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Page 10 Advertisements
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Advertisement116 2012-05-02 10 Want to Shine at ChildAid? BIGGER, BETTER BRIGHTER BE PART OF SINGAPORE’S BIGGEST CHILDREN’S CHARITY CONCERT. JUST LIKE THESE YOUNG TALENTS, YOU CAN SPREAD THE JOY OF GIVING AND HELP THE LESS FORTUNATE SIMPLY BY UNVEILING YOUR TALENT. EMAIL A VIDEO OF YOUR PERFORMANCE WITH YOUR NAME, AGE, CONTACT AND116 words
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MALAYSIA/INDONESIA
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Article, Illustration634 2012-05-02 11 Central bank may keep rate at 5.75% at its meeting this month: governor Xinhua [JAKARTA] Indonesia’s inflation in April accelerated at a faster pace on an annual basis as the government is expected to raise oil prices and end fuel subsidies, allowing theXinhua; BLOOMBERG - 634 words
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291 2012-05-02 11 Corporate announcement pending: source Reuters [KUALA LUMPUR] Shares of Malaysian Airline System (MAS) will be suspended from trading today, two sources said, amid speculation that the national carrier’s proposed US$364 million share swap with AirAsia will be cancelled. Trading of the stockReuters - 291 words
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Page 11 Advertisements
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Advertisement145 2012-05-02 11 P5 VOYAGER OF THE SEAS; uargBsr. 9-Nights Exotic Asia Fly Cruise Singapore Departure: June 11 ir (All taxes fees) Ports-of-call: Vietnam, Hong Kong (Over Night), Xiamen, Shanghai Full day Shanghai city tour with lunch dinner one way air ticket from Shanghai to Singapore on Cathay Pacific one night post cruise145 words
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Advertisement48 2012-05-02 11 BE SURPRISED BY OUR NEW AUTOMATIC SYSTEMS It makes coffee, tea and your other favourite cafe specialties, hot or cold. Preparation is easy, and it lets you adjust the taste of your beverage, just the way you like it. Be surprised at facebook.com/DolceGustoSingapore COFFEE IS NOT JUST BLACK48 words
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GREATER CHINA/INDIA
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Article, Illustration487 2012-05-02 12 Trade deficit widens as imports rise 24.3%, mainly due to the huge oil bill Reuters [NEW DELHI] India’s exports in March fell for the first time since the 2009 global financial crisis as demand weakened in the United States andReuters; REUTERS - 487 words
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Article, Illustration405 2012-05-02 12 Reuters [SEOUL] India is faltering as an investment destination because of significant policy mistakes and stock prices there will slide if the nation’s credit rating is cut, according to Mark Mobius, o n e o f t h e w o rReuters; BLOOMBERG - 405 words
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211 2012-05-02 12 Bloomberg [BEIJING] China’s two stock exchanges will lower fees charged for trading yuan-denominated shares by 25 per cent with effect from June 1, the country’s securities regulator said in a statement on its website on Monday. The Shanghai and Shenzhen bourses willBloomberg - 211 words
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Page 12 Advertisements
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Advertisement350 2012-05-02 12 15-17 MAY 2012 ENGAGING THE ASIAN FASHION CONSUMER Raffles City Convention Centre 30 TOP-NOTCH SPEAKERS INCLUDING: Ravi Thakran, Group President, South Asia, South East Asia and West Asia, LVMH, will examine the innovations in the luxury industry. Mario Boselli, President, Italian Chamber of Fashion and Andrea Bonardi, President, Italian Chamber350 words
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WORLD
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Article, Illustration1354 2012-05-02 13 Analysts look at earnings and see index at all-time high in 2012 but strategists point to the economy Bloomberg [NEW YORK] Analysts predict US shares will rise enough this year to boost the Standard Poor’s 500 Index to a record, even as Wall StreetBloomberg; BLOOMBERG - 1,354 words
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Article, Illustration865 2012-05-02 14 Once deemed taboo, litigation finance is converting more corp lawyers to investors NYT [NEW YORK] When it comes to legal spats, companies often loathe having to spend millions on legal fees while waiting months for a case to drag throughNYT; BLOOMBERG - 865 words
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491 2012-05-02 14 Bloomberg [SYDNEY] Support for Australian Prime Minister Julia Gillard’s Labor party fell to a near-record low in an opinion poll yesterday as lawmaker scandals overshadow government plans to deliver the federal budget next week. Public backing for Labor dropped two percentage pointsBloomberg - 491 words
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433 2012-05-02 14 They will pay US$2b for 14.7% stake to Woodside Petroleum Reuters [SYDNEY] Japan’s Mitsui Co and Mitsubishi Corp will jointly buy a 14.7 per cent stake in an Australian LNG project from Woodside Petroleum for US$2 billion, underscoring Japan’s demand for gasReuters - 433 words
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Article, Illustration810 2012-05-02 15 Microsoft to invest in Barnes Noble unit The deal gives tech giant 17.6% stake in Nook and values the division at US$1.7b NYT [NEW YORK] Microsoft agreed to invest hundreds of millions of dollars in Barnes Noble’s Nook division on Monday, giving the bookstore chain stronger footing in the hotlyNYT; AP - 810 words
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437 2012-05-02 15 Loans need to be repaid between now and end of the year Bloomberg [DUBAI] The six-nation Gulf Cooperation Council (GCC), which includes Saudi Arabia and the United Arab Emirates (UAE), needs to refinance US$60 billion of debt between now and the endBloomberg - 437 words
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Article, Illustration855 2012-05-02 16 Campania region has a long tradition and accounts for half of fakes seized NYT [GIUGLIANO, Italy] While Europe’s financial overlords debate the wisdom of spurring growth by letting the European Central Bank print more money, some enterprising sorts inNYT; AP - 855 words
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443 2012-05-02 16 Reuters [LONDON] Britain’s financial watchdog sought a further £100 million (S$200.5 million) compensation on Monday for badly advised investors in two Guern-sey-based funds, marking a new phase in how it will punish mis-selling in the future. The Financial Services Authority (FSA) said itReuters - 443 words
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400 2012-05-02 16 AFP [WASHINGTON] Street sellers of counterfeit brand-name perfumes and purses will soon see their illegal market overtaken by the Internet, a new US report on pirated intellectual property said on Monday. The US Trade Representative’s annual Special 301 report whichAFP - 400 words
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Article, Illustration1113 2012-05-02 17 It will meet bankers amid complaints the tests lack transparency Bloomberg [NEW YORK] The Federal Reserve criticised how some of the 19 largest US banks calculated potential losses and planned dividends in this year’s stress tests, people with knowledge of the processBloomberg; BLOOMBERG - 1,113 words
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Article, Illustration655 2012-05-02 18 UK’s manufacturing sector remains weak in April as eurozone slowdown curbs export demand Reuters [BEIJING] Factory activity in China showed signs of recovery from a first-quar-ter trough, while manufacturing in Britain remained weak, reflecting the continued reliance on the world’s second largest economy to driveReuters; REUTERS - 655 words
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Article, Illustration513 2012-05-02 18 Reuters [SYDNEY] Australia’s central bank cut interest rates by a surprisingly aggressive half a point yesterday and said inflation would likely be lower than expected for the next two years, leaving the door ajar for further easing if needed. The local dollar fellReuters - 513 words
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576 2012-05-02 18 ISM factory index’s fastest gain in ten months lifts stocks LATEST US DATA Bloomberg [WASHINGTON] Manufacturing unexpectedly expanded in April at the fastest pace in 10 months, driven by gains in orders and production that signal the US remains a source of strength forBloomberg - 576 words
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435 2012-05-02 18 AP Reuters AFP [MANILA] May Day moved beyond its roots as an international workers’ holiday to a day of international protest yesterday, with rallies throughout Asia demanding wage increases and marches planned across Europe over government-imposed austerity measures. Thousands of workers across southern Europe protestedAP; Reuters; AFP - 435 words
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316 2012-05-02 18 AP [WASHINGTON] The American dream of homeownership is at its lowest point in 15 years, the latest evidence of a housing market still far from recovering five years after the housing crash. New figures released on Monday by the Census Bureau show theAP - 316 words
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Page 13 Advertisements
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Advertisement57 2012-05-02 13 J! 4 t h 9* m Boredom isgro indefinitely Lose yourself in ‘ice’, our award winning entertainment with the latest films, television, music and news plus easy connection to phone and email. m V i 1 *a emirates. 4 Ir If I a* 8! HP —I*" A i ai Emirates57 words
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Page 14 Advertisements
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Advertisement35 2012-05-02 14 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 Sf£l The Business Times SHARElNVESTOR' A SUBSIDIARY OF35 words
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Advertisement103 2012-05-02 14 reflections Asian leaders speak their minds Aspire to inspire Our Asian leaders are speaking to you! Find out more in Reflections a thoughtfully compiled series of interviews by China Daily Asia Weekly newspapers. ONLY $15 Available at all major bookstores islandwide: Hudsons News (Airport) Harris Kinokuniya MPH Popular Times Bookstore103 words
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Page 15 Advertisements
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Advertisement132 2012-05-02 15 The Singapore life insurance industry takes in $12 billion a year.* But only one company shows how your policy performs. Actual Yield: Endowment Actual Yield: Whole Life For the sixth year in a row, we’ve published our annual yields on life policies. It’s just part of our commitment to transparency,132 words
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Page 16 Advertisements
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Advertisement926 2012-05-02 16 WATS NOTICES FALMAC FALMAC LIMITED (Company Registration Wo. *****3718R) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Falmac Limited (the “Company”) will be held at 25 International Business Park, German Centre, Stuttgart Room, Level 5 (East Wing),926 words
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Advertisement197 2012-05-02 16 ffiL MATfl RECRUIT Rippsons Step ahead to the future RIPPSONS INTERNATIONAL PTE. LTD, Singapore. A group company of RIPPSONS, India, focusing on the realty sector. Rippsons is a conglomerate with business activities spanning across several verticals like asset management, equity, stock broking commodity trading, media entertainment, and textured wall finishes197 words
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Page 17 Advertisements
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Advertisement180 2012-05-02 17 //r Ml)IS Management Development Consultancy The Corporate Training Arm of MDIS Maximise Your People Potential flexible solutions that meet your needs A holistic approach to deliver interactive and strategy-focused Customised Programmes that create high performance organisations by providing the resources to ensure business success. 4) '"SLrl-1 I and Unique to180 words
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Advertisement41 2012-05-02 17 s.iItv -j Mixed Use:.Office/Warehouse/Factory Area Size: 2,600.sq ft to 2,900.sq ft/floor. JERRY LUM Snr Marketing Director, MBA, CES cea licence no: R *****6 d HP: 8288 0098 View: jerrylum.myweb.sg ERA Estate Agent Licence No L*****82K When You Buy, Sell, or Rent41 words
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Page 18 Advertisements
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Advertisement109 2012-05-02 18 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 QR109 words
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Page 18 Miscellaneous
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Miscellaneous20 2012-05-02 18 TODAY'S BEST MUSDC THE MOST FUN IN THE MORNINGS V N.. JILLIAN LIM THE MARRIED MEN WEEKDAYS 6AM TO 1DAM20 words
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TransportHUB
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967 2012-05-02 19 DAVID HUGHES - It’s required to design ships and ports of the future, when new vessels will have to be ‘safer, smarter and greener’ STRAIT TALK By DAVID HUGHES SO THAT’S another Maritime Week come and gone. Clearly, it was a big success and caught the attention967 words
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591 2012-05-02 19 Record fuel output giving a boost to LPG ship operator Bloomberg [LONDON] Charter rates will rise 8 per cent, the most since 2008, investment bank Fearnley Fonds ASA predicts. Exmar NV, which operates 29 vessels, will return to profit this year andBloomberg - 591 words
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Article, Illustration332 2012-05-02 19 Reuters [BANGALORE] The Baltic Exchange’s main sea-freight index, which tracks rates for ships carrying dry commodities, fell on Monday for the first time in 14 days as rates for smaller vessels fell slightly. The overall index, a gauge of the cost of shipping commoditiesReuters; AP - 332 words
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297 2012-05-02 19 AFP [KUALA LUMPUR] A Singapore-man-aged product tanker with valuable fuel cargo has gone missing and is suspected to have been hijacked by pirates while at anchor off Lome, Togo, a maritime watchdog said yesterday. Pottengal Mukundan, director of the London-based International Maritime Bureau (IMB),AFP - 297 words
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TRANSPORT HUB: AVIATION
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513 2012-05-02 20 It wants Airbus to first fix the problem of cracks in its wings, says CEO Bloomberg [DUBAI] Qatar Airways Ltd said it will put delivery of its Airbus SAS A380 superjumbos on hold unless the planemaker resolves issues with cracks in theBloomberg - 513 words
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444 2012-05-02 20 Bloomberg [WASHINGTON] A US proposal to raise the amount of experience required for airline pilots would increase costs without improving safety, industry groups said. “Ensuring airline flight safety involves far more than accumulating an arbitrarily mandated number of actual flightBloomberg - 444 words
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Article, Illustration463 2012-05-02 20 Eight Dreamliner jets will be delivered in 2017 and 2018 AFP [WASHINGTON] US aircraft leasing firm Air Lease said on Monday that it has bought eight new Boeing 787-9 Dreamliner aircraft to lease to Vietnam Airlines. Financial details of the purchase were not revealed.AFP - 463 words
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570 2012-05-02 20 AFP [WASHINGTON] Travellers who suspect they are victims of profiling by security screeners at US airports can now lodge a complaint in minutes, thanks to a smartphone application released yesterday. The Sikh Coalition, supported by African American, Latino and Muslim civil rightsAFP - 570 words
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TRANSPORT HUB: LAND
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Article, Illustration602 2012-05-02 21 They pay US$67b a year for damage to vehicles, increased fuel consumption AFP Bloomberg [WASHINGTON] Gil Giro doesn’t need a licence plate to tell where a car is from he just looks underneath the chassis. “Every time we see a carAFP; Bloomberg - 602 words
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387 2012-05-02 21 Bloomberg [LONDON] A rusty Mini car sold for £40,250 (S$80,767) at an auction on Monday beating the price of a shiny Pontiac convertible once owned by Keith Richards. The corroded 1959 Mini was described by Bonhams as the oldest surviving unrestored car ofBloomberg - 387 words
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443 2012-05-02 21 A high-mileage version will be ready in third quarter Bloomberg [SOUTHFIELD, Michigan] Chrysler Group’s Dodge Dart, the automaker’s most important new model since its rescue by Fiat, is overcoming snags before the start of production and will have a high-mileage version ready in the thirdBloomberg - 443 words
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Page 19 Advertisements
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Advertisement123 2012-05-02 19 sy HONOURING MUMMY DEAREST 7 TO 13 MAY 2012 Thank the special woman in your life for her love and dedication with a sumptuous meal at Marina Mandarin Singapore. Show your appreciation for Mum by bringing her to savour a delectable buffet spread at AquaMarine, authentic Italian buffet lunch or123 words
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Page 20 Advertisements
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Advertisement547 2012-05-02 20 WATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 And In the Matter of YAT LYE PTE LIMITED (In Members’ Voluntary Liquidation) (Registration No *****0153R) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act, Cap. 50 that the Final Meeting of547 words
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Advertisement14 2012-05-02 20 WWW my sg ■fiKP with Bonanza! Sentfea\ for special deals and promotions 16/4/2012-14/5/2012 lifestyle.omy.sg14 words
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Page 20 Miscellaneous
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Miscellaneous364 2012-05-02 20 CRYPTIC CROSSWORD Across 1 South-east Asians, dreadful maniacs imprisoning person (10) 9 Friends about to produce a hit (4) 10 In which someone may be out of his or her class? (10) 11 German boy certainly not a Bunter type (6) 12 What may give cover to one who is364 words
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Page 21 Advertisements
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Advertisement710 2012-05-02 21 CUTTING-EDGE STRATEGIES FOR WORKPLACE SUCCESS FULL-DAY WORKSHOPS Who should attend: Sales Managers, Account Managers/ Executives, Social Media Specialists, PMEBs, Directors, Team Leaders and other General Management Professionals Register at www.stjobs.sg/seminars ST IBS No No.1 Recruitment site in Singapore 11 May, 2012 (Fri) Workshop A 21st Century Sales Leadership Skills SPH710 words
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EDITORIAL & OPINION
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473 2012-05-02 22 EDITORIAL LAST week, a number of international agencies raised red flags over what they perceive as policy paralysis in India. The worry is that the potential of the India growth story is being seriously undermined. First, India’s sovereign credit outlook was lowered to473 words
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Article, Illustration777 2012-05-02 22 FRANK CHING - THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 THE escape of the blind legal rights worker Chen Guangcheng from his home in Dongshigu village in Shandong Province has created a political777 words
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Article, Illustration941 2012-05-02 22 LEON HADAR - The snail’s pace growth gives the feeling that it’s actually not growing at all LEON HADAR Washington Correspondent ASK a non-economist to describe the pace of the economic recovery and you would probably be told that the American economy is growing, but thatAFP - 941 words
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Article, Illustration1085 2012-05-02 23 PHILIP ERQUIAGA - ADB study shows the continent must spend US$8t for national infrastructure this decade By PHILIP ERQUIAGA The writer is director-general of private sector operations at the Asian Development Bank POLICY makers across Asia realise that infrastructure is increasingly constraining the region’s growth prospects. Investment inAFP - 1,085 words
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Article, Illustration986 2012-05-02 23 PETER COLEMAN - By PETER COLEMAN The writer is head of Forensic Services, Deloitte Singapore and South-east Asia MYANMAR is one of the most talked about countries in Asia but one that very few people know a lot about. Let us put Myanmar in context with some bare facts.REUTERS - 986 words
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LETTERS TO THE EDITOR
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216 2012-05-02 23 James Nicholas Shirlaw - James Nicholas Shirlaw I REFER to the article “Shareholders question China Paper rights issue” (BT, April 28). The article stated that all resolutions were passed at the AGM. To provide more details, resolution 4 on the issue of shares for the rights issue was216 words
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Article325 2012-05-02 23 Ashley Davies - Ashley Davies I REFER to Malminderijit Singh’s article “Let's have a minimum wage now” (BT, April 24). While the article is quite right in focusing on how to address income inequality, the minimum wage approach has been tried and tested and failed. The minimum wage325 words
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297 2012-05-02 23 Mano Sabnani - Mano Sabnani A STRANGE thing occurred at the AGM of Treasury China Trust (TCT) on April 27 at the posh Ritz Carlton. Shareholders who were not happy with the performance of TCT had voted by show of hands to disallow the company to issue297 words
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SINGAPORE STOCKS
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Article7459 2012-05-02 24 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Asset Mat Pte Ltd APS Alpha Fund Cl A!** AXA Wealth Mgt S'pore Pte Ltd APS Alpha Fund (USD)!** Aberdeen Asset Mgt Asia Limited AXA Wealth Mgt S'pore Pte Ltd Aberdeen Asset Mgt Asia Limited Asian Local Ccy SD7,459 words
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Advertisement26 2012-05-02 24 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 Times26 words
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FINANCE & COMMODITIES
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Article502 2012-05-02 25 May 1 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 9471.66 9472.25 9332.79 Jun12 9525.00 9530.00 9330.00 9330.00 ***** *****0 Sep12 9320.00 0 7972 MSCI TAIWAN INDEX FUTURES SPOT 266.63 269.07 265.86 May12 267.50 267.90 266.30 ***** *****6 Jun12 34 60 S&P CNX NIFTY INDEX502 words
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373 2012-05-02 25 In local curr In S$ In US$ dy yr dy yr dy yr Apr 30 Index Change Change Change Change Change Change World Preliminary 900.2 -0.5 8.5 -0.6 4.3 -0.5 9.3 EAFE Preliminary 721.9 -0.4 5.8 -0.4 2.4 -0.3 7.3 Europe Preliminary 1062.7 -0.8 3.5373 words
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Article, Illustration125 2012-05-02 25 As on 30 April 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT JUN2012 1666.10 1645.50 1664.30 199 CURRENCY AUD-USD FUT JUN2012 1.0403 1.0353 1.0360 1150 EUR-USD FUT JUN2012 1.3264 1.3212 1.3235 2765 BASE METAL COPPER FUT MAY2012 8505 8400 8451 183125 words
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Article107 2012-05-02 25 Apr 30 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low May 12 1503.00 1496.75 1503.75 1480.25 Jul 12 1505.50 1493.50 1507.00 1482.00 Aug 12 1483.75 1466.75 1483.75 1460.00 Sep 12 1424.50 1410.00 1425.50 1403.25 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low May 12 54.66107 words
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Article76 2012-05-02 25 CRUDE OIL PRODUCTS Apr 30 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 119.09 -0.22 WTI (Near Mth) 104.82 -0.01 Dubai (1-Mth F) 116.03 -0.13 Tapis blend 126.31 -0.41 Minas 125.61 -0.41 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 111.11 -0.61 Jet Kerosene 133.07 0.33 US$/barrel OpecOil Basket76 words
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Article22 2012-05-02 25 Apr 30 S$ Bid Offer 1-month 1.2361 1.2363 2-months 1.2360 1.2362 3-months 1.2357 1.2360 6-months 1.2344 1.2348 Source: OCBC22 words
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Article66 2012-05-02 25 Apr 30 Apr 30 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2078.75 2069.50 3 months 2119.00 2108.00 Copper, Grade A(US$/tonne) Cash 8534.50 8564.00 3 months 8400.00 8415.00 Lead(US$/tonne) Cash 2153.00 2139.75 3 months 2148.00 2140.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.00 *****.00 366 words
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Article80 2012-05-02 25 Apr 30 COCOA (£/tonne) Close Prev High/Low May 12 1472 1515 1526/1441 Jul 12 1493 1531 1546/1457 Sep 12 1480 1519 1529/1445 Dec 12 1467 1505 1513/1430 COFFEE(US$/tonne) Close Prev High/Low May 12 1961 1964 1965/1923 Jul 12 2000 1996 2001/1950 Sep 12 2012 2003 2013/1960 Nov 12 201080 words
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1198 2012-05-02 25 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 4 1 150 295 9.75 25 Baker Technology Ltd W*****6 2 1 32 6 16.00 7 Best World Intl Ltd W*****5 0.6 1 30 61 31.67 15 Biosensors1,198 words
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Article470 2012-05-02 25 Apr 30 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.025 6.588 0.789 8.100 54.873 95.953 0.837 11.793 3.164 1.272 95.056 44.080 1.291 8.085 0.948 30.454 32.105 0.641 1.044 Canada 0.976 6.430470 words
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Article59 2012-05-02 25 Apr 30 (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$) 0.***** 0.***** 6 mths 0.***** 9 mths SWAP Mid rates (S$) 12 mths 0.***** SWAP Mid rates59 words
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Article136 2012-05-02 25 Apr 30 GOLD(US$/oz) Apr 30 Apr 27 Hong Kong 1671.40 1661.00 Apr 27 Apr 27 Apr 30 London 1663.80 1659.90 1664.55 1660.65 Source: Thomson Reuters CAST BAR Apr 30 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 159 66 5gm 452 331 10gm136 words
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Article90 2012-05-02 25 Apr 30 Apr TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 02-Aug-12 0.25 0.2 0.18 1-Year BY*****T 02-May-13 0.26 0.22 0.22 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.250 01-Feb-14 100.1 5-Year N*****0Z 2.375 01-Apr-1790 words
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Article57 2012-05-02 25 Apr 30 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 12 3480.0 3486.0 3498.0 3475.0 311 3347 Jun 12 3503.0 3509.0 3513.0 3497.0 2299 ***** Jul 12 3495.0 3505.0 3505.0 3486.0 8937 ***** Aug 12 3478.0 3486.057 words
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Article154 2012-05-02 25 Apr 30 Against S$ 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 1.6286154 words
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Article121 2012-05-02 25 As at 9am 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 foreign121 words
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Article157 2012-05-02 25 Apr 30 $S Offer Bid 0vernight 0.10 0.05 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.06 US$ Offer Bid 7 days 0.25 0.15 1 month 0.40 0.20 2 months 0.45 0.25 3 months 0.55 0.35 6 months 0.85 0.65 9 months 1.05 0.85 12157 words
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3660 2012-05-02 26 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 STXPO TBN3,660 words
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Advertisement47 2012-05-02 26 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 Times47 words
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Advertisement18 2012-05-02 26 USE THIS SPACE TO SELL, CALL JOE WONG AT 9620 1327 TO ADVERTISE. -.The Business Times Shipping Times18 words
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Advertisement106 2012-05-02 27 Shipping lines seeking reliable logistics partners Can they find your services here in the Shipping Times? urgently needed by shippers Clan they find your services Here in the Shipping Times'? THE BUSINESS TIMES Shipping Times ADVERTISE, CALI IOE WONG 9620 1 Celebrat Your Project Completion Come publicise your Project Completion,106 words
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EXECUTIVE MONEY
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Article, Illustration1764 2012-05-02 28 BENJAMIN YEO - Stay invested, make appropriate adjustments and don’t lose heart despite the EU’s woes, things aren’t that bad, says BENJAMIN YEO BENJAMIN YEO The writer is head of investment strategy, Asia at Barclays WITH more than 5,000 years of history, the cultural development ofBLOOMBERG - 1,764 words
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Article, Illustration986 2012-05-02 29 Rising middle class attracts names like Ikea to a country where spending accounts for 60% of GDP Bloomberg [JAKARTA] ETI Umarih is doing brisk business selling Ikea products in Indonesia via Facebook Inc’s social networking website. Before long, the Jakarta entrepreneur will getBloomberg; BLOOMBERG - 986 words
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Article, Illustration1072 2012-05-02 30 Fund managers look beyond emerging markets for promising investment opportunities NYT [NEW YORK] THE difficulty with investing in the next big thing is that it is often not recognised as that until after it has become a current or former big thing. Before its arrival,NYT; REUTERS, AFP - 1,072 words
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Advertisement125 2012-05-02 28 Tap On A World Of Opportunities In Singapore's MICE Market ,5’ uu The Business Times 52travellc t 3 the ultimate trav setraveilers.cjm 2 travel resource oy SPH “MICE Corporate Travel” 12-page supplement, The Business Times, Friday, 4 May 2012 Don't miss your share of the lucrative MICE pie! Singapore is125 words
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Advertisement744 2012-05-02 29 Online Personal Trading Account for Spot FX CitiFX’Pro cffi Tailored Margin FX Solutions for qualifying and experienced Individuals. In Singapore, only accredited, institutional and expert investor will qualify. Award winning trading system CitiFX Pro features state-of-the-art technology based on our award-winning platforms with flexible pricing and institutional-level liquidity. Mobile access744 words
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Advertisement61 2012-05-02 30 I A c'^oVoQV' *5 vjcyvSK \ec^° IG’s Price Improvement saved clients $30 million in 2011 IS DIFFERENT FIND OUT WHY IGMARKETS.COM.SG CFD trading can result in losses that exceed your initial deposit Figures relate to IG Group, January December 2011 and do not represent future performance results IG Markets (ACRA61 words
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