The Business Times, 5 May 2012

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Microfilm: NL32010
Total Pages: 49
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    19 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g| MAY 5-6, 2012 S$1.00| MICA (P) 121/08/2011 A SINGAPORE PRESS HOLDINGS PUBLICATION
    19 words
  • Article
    Lock icon London jeweller in HK$1b IPO
    34 1 LISTING DEBUT GRAFF Diamonds has obtained approval from the Hong Kong stock exchange to raise HK$1 billion in an IPO, paving the way for growth in luxury-hungry Asia. 4
    34 words
  • Article
    Lock icon Facebook valued at up to US$95b
    35 1 JUICY DEAL WITH a price range of US$28-35 per share, Facebook’s IPO, expected in a couple of weeks, values the social networking company at up to US$95 billion. 8
    35 words
  • Article
    Lock icon GEH Q1 profit up 65% at $263m
    34 1 RESULTS SEASON GREAT Eastern Holdings (GEH) posted a 65 per cent jump in its first-quarter net profit to $262.5 million, helped largely by higher investment income. 12
    34 words
  • Article
    Lock icon Irregularities at China Gaoxian
    31 1 S-CHIP STRESS SPECIAL auditors of S-chip China Gaoxian have uncovered millions of dollars that remain unaccounted for, unauthorised banking transfers, and contracts inked without board approval. 13
    31 words
  • Article
    Lock icon Minister calls for easing of COE supply crunch
    786 1  -  Tuck Yew asks LTA to see if the cut in car growth can be slowed and claw-back of COE oversupply deferred By Samuel Ee samuelee@sph.com.sg Singapore THE government has asked the Land Transport Authority (LTA) to see if the certificate of entitlement
    786 words
  • Article, Illustration
    Lock icon ICAC arrests Walter Kwok
    653 1  -  Sun Hung Kai Properties’ exchairman out on bail in HK’s biggest bribery-related case By Shu-Ching Jean Chen btworld@sph.com.sg Hong Kong THE saga of what is becoming Hong Kong’s biggest bribery-related case is still unfolding with the latest arrest of Sun Hung Kai Properties’ Walter Kwok. Walter,
    AP FILE PHOTO  -  653 words
  • Page 1 Advertisements
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  • TOP STORIES
    • MARKETS
      • Article
        Lock icon STOCKS
        57 2 HSTI 2,990.59 (-10.35) HSTI FUTURES 2,972.00 (-9.00) HSIMSCI 343.87 (-1.70) HSIMSCI FUTURES 341.60 (-1.60) Friday Change KL COMP 1,591.04 +7.87 NIKKEI 225 closed HANG SENG 21,086.00 -163.53 SET 1,227.41 -12.62 JAKARTA 4,216.68 -7.32 MANILA 5,297.55 -2.86 KOSPI 1,989.15 -5.96 SHENZHEN B 676.23 +2.21 MUMBAI IND 16,831.08 -320.11 12noon EDT
        57 words
      • Article
        Lock icon PRIME RATES
        28 2 SINGAPORE S.3S MAI AY'S!/* ASS HONG k!ON6 S.QO INDONESIA 14.374 TAIWAN S036 JAPAN I.47S KOREA BRITAIN oso US S.iS CANADA 3,00 SWITZERLAND oso INDIA I4.7S Source:
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      • Article
        Lock icon FOREX
        48 2 us$ s$ US$ (S$ per US$) 1.242 (US$/S$ per 1.618 2.008 EURO(US$/S$/E) 1.314 1.631 Foreign currency per US$ S$ YEN 80.20 64.60 RM 3.039 2.447 HK$ 7.761 6.252 BAHT 30.97 24.94 RUPIAH 9,212 7,420 RENMINBI 6.305 5.079 INDIAN RUPEE 53.85 43.37 A$ 0.975 0.785 NZ$ 1.252 1.008
        48 words
    • Article, Illustration
      Lock icon Hiring slows for a third straight month in April
      542 2 Latest jobs report keeps fears alive US economy is losing momentum LATEST US DATA Reuters Washington US EMPLOYERS cut back on hiring in April and the jobless rate fell as people gave up the hunt for work, a sombre note on
      Reuters; AFP  -  542 words
    • Article
      Lock icon Correction
      45 2 IN “Crossing The Causeway” (SME Magazine May/June 2012), we gave the wrong timeframe for the completion of a wellness township project in Iskandar Malaysia. The project will be completed over the next four years, not sometime this year. We are sorry for the error.
      45 words
    • Article, Illustration
      Lock icon London Metal Exchange looks to expand with new partner
      1083 3  -  Suitors expected to retain key features as well as move into new markets By Jamie Lee leejamie@sph.com.sg Singapore THE London Metal Exchange (LME), which will shortlist bidders for its sale from early next week, expects proposals to look at ways that
      BLOOMBERG  -  1,083 words
    • Article, Illustration
      Lock icon Prudential, Frasers tipped to clinch Compass Point
      703 4  -  Their tie-up puts in bid for tender this week and holds first right on the asset By Kalpana Rashiwala kalpana@sph.com.sg Singapore INSURANCE giant Prudential UK and Frasers Centrepoint are said to be close to buying Compass Point mall, which is next to Sengkang
      FILE PHOTO  -  703 words
    • Article, Illustration
      Lock icon UK’s Graff Diamonds makes HK$1 b IPO date
      558 4 It gets HK regulator’s nod for listing debut, which may be in June Reuters Hong Kong GRAFF Diamonds, which sells “the most fabulous jewels in the world”, has received the green light from the Hong Kong bourse for a market debut that
      Reuters; BLOOMBERG  -  558 words
    • Article
      Lock icon Myanmar seeks urban development partners
      634 5  -  It hopes to tap into S’pore firms’ know-how, wants them to participate in nation’s growth By Felda Chay feldac@sph.com.sg Singapore MYANMAR’S minister for construction has extended an invitation to Singapore firms keen on developing hotels, serviced apartments and even high-end condominiums in the country, as
      634 words
    • Article, Illustration
      Lock icon All eyes on Greek polls with funding, euro at issue
      795 5 ANALYSIS Reuters Brussels OVERSHADOWED by the prospect of a Socialist win in France’s presidential vote, the parliamentary election in Greece on Sunday carries far greater risks for the euro zone. Opinion polls show no clear winner emerging from the vote,
      Reuters; REUTERS  -  795 words
    • Article, Illustration
      Lock icon Clean windows offer clear view of Asia to OCS
      1377 6  -  CEO Chris Cracknell eyes major gains from expansion in the region By Bryan Koh btnews@sph.com.sg Singapore CLEANING the windows of corporate buildings, Chris Cracknell could have dreamt of being on the other side of the glass, but maybe not becoming the
      ARTHUR LEE  -  1,377 words
    • Article, Illustration
      Lock icon The long, hard journey of social enterprises
      1226 7  -  Many are stymied by lack of public awareness and funding bureaucracy By Timothy Loh timloh@sph.com.sg Singapore SOCIAL entrepreneurship seems to be catching on of late, with more Singaporean entrepreneurs setting up businesses that care about more than just profits. But it’s no cushy
      1,226 words
    • Article, Illustration
      Lock icon Facebook IPO values firm at up to US$95b
      590 8 It sets price range of US$28-35 per share; raising maximum of US$11.8b AP New York FACEBOOK, the company that turned the social Web into a cultural and business phenomenon, is worth as much as US$95 billion, according to the price range for
      AP  -  590 words
  • Page 2 Advertisements
    • Advertisement
      Lock icon Page 2 Advertisements Column 1
      64 2 CONTENTS 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 Design L2-5 Guest chef L6-7 Dining L8-9 Travel L10-11
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  • Page 8 Advertisements
    • Advertisement
      Lock icon Page 8 Advertisements Column 1
      426 8 CUTTING-EDGE STRATEGIES FOR WORKPLACE SUCCESS FULL-DAY WORKSHOPS 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 11 May, 2012 (Fri) Workshop A: 21st Century Sales Leadership Skills SPH News Centre (9.00 am to 5.30 pm) 25 May,
      426 words
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK April 30-May 4, 2012
      • Article
        Lock icon Govt monitoring ABSD reimbursing
        57 9 SEVERAL developers are reimbursing the hefty additional buyer’s stamp duty in a bid to move sales in selected projects. And the practice, which has created concerns about the possible distortion of property and loan values, has drawn the attention of regulators and raised the possibility of
        57 words
      • Article
        Lock icon Singapore’s interest rate balancing act
        45 9 SINGAPORE may be fighting inflation by tightening monetary policy, but the outcome of this isn’t so straightforward. What this means is that policymakers may have to resort to more direct measures to rein in price pressures if these continue unabated.
        45 words
      • Article
        Lock icon More pain before the restructuring bears fruit
        70 9 IF businesses are finding this initial phase of restructuring tough, more transitional pain is in store in the next phase before Singapore finally reaps the fruits of productivity gains. That could take at least another five years, as it is “possibly in the
        70 words
      • Article
        Lock icon PM has straightforward message for firms, workers
        45 9 PRIME Minister Lee Hsien Loong says that companies must look past immediate gains to help boost national productivity. Workers must also upgrade themselves and master new skills to do their bit, he says in his May Day message.
        45 words
      • Article, Illustration
        Lock icon PM: Prof Lim’s drastic proposal won’t work
        89 9 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 that it would hit two major groups
        FILE PHOTO  -  89 words
      • Article
        Lock icon Private banks take PR rule changes in stride
        55 9 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. Last month, the Monetary Authority of Singapore scrapped the eight-year-old Financial Investor Scheme, said to
        55 words
      • Article
        Lock icon Murdoch unfit to run firm: British MPs
        80 9 RUPERT Murdoch is unfit to run a major international company, British lawmakers said on Tuesday, 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 the 81-year-old
        80 words
      • Article
        Lock icon Governance code gets MAS nod, with tweaks
        53 9 THE Code of Corporate Governance has been given its final shape, with the Monetary Authority of Singapore accepting most proposals that were submitted last year. But, in at least one area, it has watered down the definition of independent directors proposed by the
        53 words
      • Article
        Lock icon Factories sputter, but may
        51 9 gather steam soon IN a week of disappointing purchasing managers’ index reports from economies across Asia, Singapore clocked a reading that was among the lowest. But economists saw lit- tle cause for alarm in the April PMI of 49.7, which flags a contraction in the manufacturing
        51 words
      • Article
        Lock icon Remisiers want Apple to go with their S-chips
        54 9 IF the Average Joe can invest in S-chips, then why not in Apple stock? The Society of Remisiers has appealed to the Monetary Authority of Singapore to allow investors to trade in foreign ordinary shares, saying that they are “no more risky”
        54 words
      • Article
        Lock icon OCBC again ranked world’s strongest bank
        34 9 SINGAPORE’S banks have been ranked among the world’s strongest for the second straight year in an annual ranking by Bloomberg Markets magazine, with OCBC Bank retaining top spot.
        34 words
    • Article
      Lock icon NEXT WEEK May 7-11,2012
      66 9 US DATA May 9 March wholesale inventories May 10 March trade balance May 11 April PPI CHINA DATA May 8 Consumer price index Producer price index May 9 Merchandise trade balance May 10 Industrial production Retail sales SINGAPORE DATA May 7 April international reserves EVENTS May
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  • Page 9 Miscellaneous
    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 1
      349 9 Across 1 Raw talent given suit after part of course (5,7) 8 A long run largely devised to produce weariness (7) 9 Town is accommodating quiet jam makers by church (7) 11 Hold first woman trailing bishop and priest (7) 12 Imperial figure from Amritsar in ashram (7) 13 Dogs,
      349 words
    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 2
      14 9 SATURDAY with Ludwig MP-USV (UKO (USVSVD (urtWKy (wc RATES ‘A penny for your thoughts?
      14 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon A rare gaijin
      2512 10/11  -  Yokogawa’s Lai Ah Keow explains how the company’s work ethos has helped to boost confidence in the made-in-Singapore tag. By Anna Teo By Anna Teo anna@sph.com.sg LAI Ah Keow is Singaporean but reads faster in Japanese than in English or Mandarin, his mother tongue. And as managing
      YEN MENG JIIN  -  2,512 words
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  • COMPANIES
    • Article, Illustration
      Lock icon Great Eastern Q1 profit up 65% at $263m
      526 12  -  Insurer is open to working with government to help underserved segments By Emilyn Yap emilyny@sph.com.sg Singapore GREAT Eastern Holdings posted a 65 per cent year-on-year jump in its first-quarter net profit to $262.5 million, helped largely by higher investment income and mark-to-market
      526 words
    • Article
      Lock icon StarHub’s Q1 net profit up 28% at $88m on mobile growth
      605 12  -  By Victoria Ho vhoip@sph.com.sg Singapore STARHUB continued to ride on mobile revenue growth in the first quarter. Its net profit for the three months ended March 31 shot up 28 per cent year on year to $88 million, the
      605 words
    • Article
      Lock icon SC Global reports loss of $1 0m for Q1
      305 12  -  By Malminderjit Singh msingh@sph.com.sg Singapore PROPERTY developer SC Global Developments reported a net loss of nearly $10 million for the fiscal first quarter ended March 31, 2012, compared with its $72.8 million net profit for the corresponding quarter last year. The
      305 words
    • Article
      Lock icon Irregularities uncovered at China Gaoxian
      796 13  -  Company in the course of restructuring and new controlling shareholder may be at the helm soon By Lynette Khoo lynkhoo@sph.com.sg Singapore INVESTIGATIONS by special auditors of China Gaoxian have uncovered millions of dollars that remain unaccounted for, unauthorised banking transactions and contracts inked without board
      796 words
    • Article
      Lock icon Rotary Engineering Q1 profit down 41% on project delays
      396 13  -  By Ronnie Lim ronnie@sph.com.sg Singapore START-UP delays on some projects plus thinner margins due to keen competition saw Rotary Engineering reporting a 41 per cent fall in Q1 net profit to $3.2 million from the same quarter a year ago, on
      396 words
    • Article
      Lock icon Retail Reits doing well in inflationary environment
      360 13  -  By Michelle Tan michtyz@sph.com.sg Singapore INFLATIONARY pressures and escalating retail rents seem to have benefited retail focused real estate investment trusts (Reits) and business trusts over recent months. Six Singapore-listed Reits which have been categorised to have a retail focus by Bloomberg namely
      360 words
    • Article
      Lock icon M&C Christchurch hotels stop bookings for repairs
      215 14 HOTEL group Millennium Copthorne Hotels will not be accepting stays at two of its Christchurch properties as it rebuilds from the earthquake there last year. Millennium Copthorne Hotels New Zealand Ltd yesterday advised that it has obtained updated structural assessments for two of
      215 words
    • Article
      Lock icon UPP in deal to set up JV business in Myanmar
      410 14  -  It also proposes placement of new shares to raise $40.3 million By Jasmine Ng jasng@sph.com.sg Singapore MARKING its planned foray into Myanmar, paper manufacturer UPP Holdings yesterday unveiled a proposed joint venture (JV) in the country for quarry operations and
      410 words
    • Article
      Lock icon Marco Polo Marine’s Q2 profit falls 22% to $4.23m
      498 14  -  By Lynn Kan lynnkan@sph.com.sg Singapore MARCO Polo Marine reported that its second-quarter net profit fell 22 per cent to $4.23 million from $5.42 million in the same period last year. The ship-builder and charterer’s net profit for the first half of
      498 words
    • Article, Illustration
      Lock icon Microcaps continue to rule as blue chips drift
      888 15  -  STOCKS R Sivanithy sivan@sph.com.sg Senior correspondent IT probably comes as no surprise that penny stock churning and rotational punting of second and third-liners continued this week, albeit in relatively subdued volume. Trading curbs on some of the more frothy micro-caps the week
      888 words
    • Business briefing
      • Article
        Lock icon KepT&T names new directors to board
        116 15 KEPPEL Telecommunications Transportation (Keppel T&T) has appointed Neo Boon Siong and Michael Chia Hock Chye to its board of directors with effect from May 2. An independent non-executive director, Professor Neo was also appointed as chairman of the Audit Committee and a member of
        116 words
      • Article
        Lock icon Thakral’s Q1 net slips 28% as China market slows
        112 15 THAKRAL Corporation posted a 28 per cent year-on-year fall to $1.47 million in first quarter net profit attributable to equi-ty-holders. Revenue dropped 35 per cent to $69.95 million. It said the results were due mainly to softer demand from the distribution
        112 words
      • Article
        Lock icon Pasir Ris One DBSS flats 1.9 times subscribed
        74 15 SingXpress Land Ltd announced yesterday that it had received 865 applications for the 447 units of its recent Design, Build and Sell Scheme (DBSS) launch Pasir Ris One. This represents a subscription rate of 1.94 times for Pasir Ris One, which was
        74 words
    • Article
      Lock icon Derivatives volume on SGX in April rises 29%
      344 15  -  By R Sivanithy sivan@sph.com.sg Singapore THE Singapore Exchange yesterday said that its derivatives volume grew 29 per cent last month to 6.3 million contracts compared to April last year but securities turnover dropped 27 per cent to $23.5 billion. In a news
      344 words
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  • Page 14 Advertisements
    • Advertisement
      Lock icon Page 14 Advertisements Column 1
      37 14 SINGAPORE’S PREMIER HOME-GROWN CAR MAGAZINE s/iu &82/; &2); .245 16 +4 4!8:1;+94;8 5!186 01); 3, 2)4;8+(4 .245 45;4!8:1;4;+*’ 4;64 &82/; 5"1)&+2$6 MAY ISSUE a IT NOW! DRIVE DINE WITH US AT TORQUE AFTER HOURS 3051 %)01 !!!*#.&$,004*&02(’0+-%$*)51"./0+$
      37 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon The corporate cost of political innocence
      992 16  -  Lack of political savvy holds leadership contenders back, particularly in Asia. There is a critical need to level the playing field for organisational success FROM THE DESK OF Jane Horan CEO, Horan Group MERITUS Senior Minister Goh Chok Tong recently outlined three strategies for
      992 words
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  • SINGAPORE
    • Article
      Lock icon Survival of refineries here seen under threat
      546 17  -  Facts Global Energy chairman points to impact of Asia and Middle East newcomers By Ronnie Lim ronnie@sph.com.sg SINGAPORE’S oil refining/petrochemicals industry will have to fight for survival in the coming two to five years, warned the chairman of Facts Global Energy. The start-up
      546 words
    • Article
      Lock icon Revamped training for pharmacists
      398 17  -  By Nisha Ramchandani nishar@sph.com.sg AS Singapore’s healthcare needs continue to evolve, the nation’s pharmacy sector will undergo changes aimed at boosting both capacity and capabilities. “To meet the healthcare demands, we estimate that we will need to grow the healthcare professional workforce and we definitely need
      398 words
    • Article, Illustration
      Lock icon S’pore can be a regional hub of creativity
      504 17  -  By Jasmine Ng jasng@sph.com.sg THERE is no dearth of local creative minds in Singapore, says JWT’s chief creative officer Yeo Yang, but the Republic is handicapped by a small market when it comes to letting these wizards work their magic. This has
      YEN MENG JIIN  -  504 words
    • Article, Illustration
      Lock icon Engineering mind, environmentalist’s heart
      693 18  -  Tay Cher Seng, winner of BCA’s Green Innovator of the Year award this year, keeps cutting resource wastage By Lim Wei Sheng limwsg@sph.com.sg IMAGINE making the thankful transition from the sweltering heat outdoors these days to the respite of an air-conditioned room. The room is silent,
      ARTHUR LEE  -  693 words
    • Article
      Lock icon Architecture firms, property developers recognised at BCI Asia Awards
      315 18  -  By Jasmine Ng jasng@sph.com.sg SINGAPORE’S 10 most active architecture firms and property developers were presented with awards last night by construction consultancy BCI Asia. The portfolios of these firms include US$14.3 billion worth of projects scheduled to start here this year.
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  • WORLD
    • Article
      Lock icon China agrees to more market reforms
      719 19 They include raising foreign stake cap on securities firms and giving more access to car insurance market AP, Reuters AP Beijing CHINA agreed to let foreigners own bigger stakes in its securities firms at a high-level dialogue with the United States, an American official
      AP, Reuters; AP  -  719 words
    • Article, Illustration
      Lock icon Hutchison offers 2b euros for Ireland’s Eircom Group
      439 19 Bloomberg Dublin BILLIONAIRE Li Ka-shing’s Hutchison Whampoa Ltd made a bid of about two billion euros (S$3.26 billion) for Eircom Group, the Irish phone company in supervised credit protection, people with knowledge of the matter said. The cash offer by Hutchison’s Three
      Bloomberg; BLOOMBERG  -  439 words
    • Article, Illustration
      Lock icon India’s telcos blast high spectrum price
      618 20 Mobile operators demand 80% cut in it, saying extra costs threaten survival of some players Reuters New Delhi INDIA’S top mobile operators launched a broadside against the sector regulator on Thursday, pressuring the government to reject proposals they say will add billions of dollars
      Reuters; BLOOMBERG  -  618 words
    • Article
      Lock icon China to import more oil for reserves
      475 20  -  By Jeanny Yu EJ Insight Hong Kong CHINA will buy more crude oil from global markets later this year and early next year as more strategic oil reserve facilities are put into operation, pushing up the requirement for imports, according to state-owned energy
      EJ Insight  -  475 words
    • Article, Illustration
      Lock icon Reserve Bank of Australia slashes forecasts
      519 21 Economy performing ‘weaker than expected’; exports down with global turmoil, strong A$ AFP Sydney AUSTRALIA’S central bank slashed its growth and inflation forecasts yesterday, citing sluggish exports due to global turmoil and the robust Australian dollar, which is squeezing local industries. The Reserve Bank
      AFP  -  519 words
    • Article
      Lock icon Heavy losses for Tories in local govt elections
      517 21 Reuters London PRIME Minister David Cameron’s Conservatives suffered heavy losses in local government elections as British voters punished the government for unpopular austerity measures that failed to avert a double-dip recession, early results showed yesterday. Mr Cameron hopes a likely win for
      Reuters  -  517 words
    • Article, Illustration
      Lock icon Fresh debate over who should pay
      341 22 Shareholders and owners of subordinated debt have shared in losses during the crisis Reuters London SPAIN’S plan to rid banks of toxic real estate assets is reviving the politically heated debate over how creditors and taxpayers should share the vast losses still being incurred
      Reuters  -  341 words
    • Article
      Lock icon Banks may have to disclose profits from ECB loans
      478 22 Bloomberg London BANKS may have to disclose profits from carry trades derived from one trillion euros (S$1.6 trillion) in European Central Bank (ECB) loans and exclude the money from bonus pools, under draft proposals from European Union (EU) lawmakers. Profit from
      Bloomberg  -  478 words
    • Briefing
      • Article
        Lock icon RBS posts first quarter net loss of £1.5b
        78 22 AFP London STATE-RESCUED Royal Bank of Scotland (RBS) yesterday announced a first quarter net loss of £1.52 billion, almost three times the amount posted a year earlier. RBS posted a 2011 Q1 net loss of £528 million. But the bank’s underlying performance
        AFP  -  78 words
      • Article
        Lock icon Air France-KLM’s Q1 loss widens to 597m euros
        83 22 Bloomberg Paris AIR France-KLM Group said its Q1 loss widened as fuel costs and a drop in freight volumes wiped out benefits from gains in passenger traffic, increasing pressure to secure cost cuts from unions by a June deadline. The operating loss
        Bloomberg  -  83 words
      • Article
        Lock icon America Movil cuts deal to avoid US$1 b fine
        68 22 Bloomberg Mexico City BILLIONAIRE Carlos Slim’s America Movil SAB struck a deal with Mexican regulators to avoid paying a fine of almost US$1 billion, in exchange for cutting wireless fees and offering calls to competitors for no extra charge. The agency
        Bloomberg  -  68 words
      • Article
        Lock icon Regulators approve China Postal’s US$1.6 IPO
        58 22 Reuters Shanghai CHINESE regulators yesterday approved a US$1.6 billion initial public share offering by China Postal Express Logistics, the latest sign authorities are opening the door to larger IPOs. China Postal plans to use proceeds of the offering to expand its logistics centres, warehouses,
        Reuters  -  58 words
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  • Page 20 Advertisements
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  • Page 22 Advertisements
    • Advertisement
      Lock icon Page 22 Advertisements Column 1
      51 22 WATS RECRUIT JB Singapore Airlines is recruiting an Accountant MSD has vacancies for Senior Sourcing Specialists Science Centre Singapore is hiring a Science Educator UOB Kay Hian is looking for a Senior Credit Analyst ExxonMobil has positions open for Operations Technicians Check out more than 400 positions available in CATS
      51 words
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  • Article
    Lock icon SGX
    8015 23 Transaction date: May 4 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 13 11.9 13.8 66.8 0.4 3.1 62.3 9.5 4 A-Sonic 5 4.8 6.2 2.6 35.8 AAT 2 halt 1.6
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  • Article
    Lock icon SGX CATALIST
    1769 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 $mil 34 12.1 t 800 Super 16.8 15.5 17.2 4.7 3.3 6.5 30 4.5 2.5 t AA Grp 3.3 3.3 4 3.2 164 39 t APStrategic
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  • Article
    Lock icon SECURITIES TRADING SCOREBOARD
    186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 7 4 0 0 0 5 7 4 Manufacturing 35 63 43 9 6 7 44 69 50 Commerce 15 24 13 5 3 5 20 27 18 Tpt/Stor/Comms 9 20 8
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  • Article
    Lock icon BT SHARE INFORMATION SERVICE
    812 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Apr 30 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Addvalue Tech Ltd 2-May-12 Chan Kum Lok Colin OE 8750 0.04 ***** 2.93 ***** 3.69 Addvalue Tech
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  • Article
    Lock icon SECURITIES TRADING TURNOVER
    121 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 17,099 17,099 52,260 52,260 Manufacturing 682,470 201,890 884,360 144,340 11,226 155,566 Commerce 325,240 36,710 361,950 76,978 2,247 79,224 Tpt/Stor/Comms 88,703 23,717 112,420 72,834 8,128 80,962 Finance 12,733 102 12,835 117,782 18 117,800 Construction 196,346 14,544
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  • Article
    Lock icon LIFFE
    80 27 May 3 COCOA (£/tonne) Close Prev High/Low May 12 1517 1538 1547/1513 Jul 12 1534 1557 1565/1525 Sep 12 1518 1546 1552/1513 Dec 12 1500 1527 1532/1494 COFFEE(US$/tonne) Close Prev High/Low May 12 1951 1953 1957/1950 Jul 12 1975 1982 1985/1970 Sep 12 1985 1994 1994/1982 Nov 12 1987
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  • Article
    Lock icon METALS
    69 27 May 4 GOLD(US$/oz) May 03 May 04 Hong Kong 1653.00 1639.00 Hong Kong May 02 May 03 London 1650.90 1633.11 1651.90 1633.87 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 3757.00 36.92 Source: UOB PLATINUM/ Lon (US$/oz) May 03 Close Previous PM Fix 1552.00 1562.00 AM Fix 1557.00
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  • Article
    Lock icon PALM OIL
    41 27 May 4 AI_C£ PALM FUTURES (IUW,WT} SL~ -»rv .rv» ftn <#■ UM>.*v t Vun r-ii'Q 5rrH 1 KD -2r0 Ml JUVl'i 1 •••111 :j.-o :»*a»o Jsa6u »V '•V jj-i'o n-eu ml n •i m =i3ii.O JllJil -KD Source: Bursa Malaysia
    41 words
  • Article
    Lock icon GOVERNMENT SECURITIES
    80 27 May 4 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 02-Aug-12 0.24 1-Year BY*****T 02-May-13 0.25 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.250 01-Feb-14 100.12 5-Year N*****0Z 2.375 01-Apr-17 108.9 10-Year NX*****X 2.250 01-Jun-21
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  • Article
    Lock icon INTERBANK CURRENCY RATES
    154 27 May 4 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2731 1.2741 1.0256 1.0261 Canadian dollar 1.2550 1.2559 1.0110 1.0114 Euro 1.6308 1.6315 1.3138 1.3139 NZ dollar 0.9912 0.9921 0.7985 0.7990 Sterling pound 2.0076 2.0087 1.6173 1.6177
    154 words
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    Lock icon SMX MARKET UPDATE
    72 27 A.-oKSl.Tll- Uiuzir»,1« Ml 1c*fw* xhj*u «i Wl t II /< 'i .uni.. IniflBrOi u»ii mitwyci u*u mmin>*uv ill W (iff win •n UM an <(UWV fwiruw tilt 1* ill *>i f MW/i «1f «U I1MM* mini OKI ut* tun 1"J WUlt'. TfilW ITYI e*4Ci ftfpi !ac« u#i
    72 words
  • Article
    Lock icon CHICAGO BOT
    102 27 May SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low May 12 1468.75 1480.00 1482.75 1461.00 Jul 12 1473.50 1485.00 1488.75 1465.50 Aug 12 1452.50 1465.75 1467.75 1447.75 Sep 12 1400.00 1409.75 1411.75 1395.50 SOYBEAN/OIL(60,000 lbs; USc/lb) Close Previous High/Low May 12 53.80 54.33 54.31 53.60 Jul
    102 words
  • Article
    Lock icon FOREIGN CURRENCY NOTE RATES
    118 27 May 04 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.306 1.244 Can dollar 1.287 1.226 Euro 1.672 1.593 Sterling pound 2.05 1.972 NZ dollar 1.024 0.976 US dollar 1.261 1.213 Local dollars to 100 units of foreign currency: Currencies Sell
    118 words
  • Article
    Lock icon LONDON METALS
    69 27 May 3 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2050.75 2056.25 3 months 2090.00 2098.00 Copper, Grade A (US$/tonne) Cash 8284.50 8399.00 3 months 8229.00 8305.00 Lead (US$/tonne) Cash 2083.50 2128.25 3 months 2090.00 2132.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
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  • Article
    Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
    373 27 In local curr In S$ In US$ dy yr dy yr dy yr May 3 Index Change Change Change Change Change Change World Preliminary 899.8 -0.2 8.4 0.0 4.5 -0.2 9.0 EAFE Preliminary 720.1 0.0 5.6 0.1 2.0 -0.1 6.5 Europe Preliminary 1062.0 0.1 3.5
    373 words
  • Article
    Lock icon OIL
    74 27 May 3 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 116.70 -1.50 WTI (Near Mth) 102.56 -2.67 Dubai (1-Mth F) 114.20 -1.42 Tapis blend 124.84 -1.46 Minas 124.14 -1.46 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 108.17 -0.33 Jet Kerosene 131.86 -1.42 US$/barrel OpecOil Basket Price 116.68
    74 words
  • Article, Illustration
    Lock icon STOCK MARKETS
    109 27 Straits Times Index YTD change:+13.01% 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:+14.38% 52-week high: 23,707.90 on May 31,2011 52-week low: 16,170.30 on Oct 4,2011 Source: Bloomberg Dow Jones Industrial Average YTD change: +8.10% 52-week high: 13,338.60
    Source: Bloomberg  -  109 words
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon Myth of China’s ‘overinvestment’
      976 28 / 29  -  There appears to be still room for investments as overall, the country remains relatively underdeveloped. By Edward Hadas REUTERS BREAKINGVIEWS By Edward Hadas CONSIDER these two warnings o v e r C hi n a s growth model. “Overinvestment has given rise to excessive production capacity”,
      AFP  -  976 words
    • Article
      Lock icon Reality versus the Friedmans’ world
      810 28 / 29  -  By J Bradford DeLong ~J. Bradford DeLong, a former assistant secretary of the US Treasury, is Professor of Economics at the University of California at Berkeley and a research associate at the National Bureau for Economic Research. Project Syndicate Berkeley ON my desk right now
      Project Syndicate  -  810 words
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Getting a piece of the pie
        1247 30 / 31  -  Facebook’s executives and underwriters have discussed raising the number of shares that will go to retail investors. By Susanne Craig and Evelyn M Rusli By Susanne Craig, Evelyn M Rusli NYT New York FACEBOOK,whichplans to make a market debut this month that could value
        NYT; REUTERS  -  1,247 words
      • Article
        Lock icon brokers’ take
        744 30 / 31  -  Compiled by Lynn Kan Hyflux Limited Sell Maybank Kim Eng May 4 Close: $1.44 EVEN though first quarter numbers are not necessarily the best barometer for full-year performance, being seasonally weaker, we believe the numbers will disappoint the market, with reported net profit flat at $7.7 million versus
        744 words
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        Lock icon Exec pay furore won’t boil over
        1137 32  -  But outrage likely to simmer down once media focus fades. By Steven M Davidoff ~The writer, a former corporate lawyer, is a professor of law and finance at Ohio State University NYT SHAREHOLDER protests over excessive executive pay have erupted at Barclays, Citigroup and
        NYT; REUTERS FILE PHOTO  -  1,137 words
      • Article, Illustration
        Lock icon Knowing the market and companies well
        1055 33  -  It pays to attend AGMs and observe the board’s body language and how it deals with shareholders’ questions SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior correspondent ~The writer is a CFA charterholder I HAD lunch with a friend earlier this week. He’s
        BLOOMBERG  -  1,055 words
    • WEALTH REAL ESTATE
      • Article
        Lock icon Househunt
        1107 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN APRIL 4 AND APRIL 10, 2012 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED People's Park Cplx Apt 07/04/2012 99 409 538 1315 People's Park Cplx Apt 05/04/2012 99
        1,107 words
      • Article, Illustration
        Lock icon Home prices in April down 2.4%
        456 35 Drop attributed to the end of a stamp-duty exemption and the economy suffering a double-dip recession UK PROPERTY Bloomberg London UK house prices dropped the most in 11/2 years in April as a stamp-duty exemption for first-time buyers ended and the economy fell into
        Bloomberg; BLOOMBERG  -  456 words
      • Article, Illustration
        Lock icon Commercial real estate falls for 2nd straight quarter
        209 35 Bloomberg London UK commercial property values declined by 0.7 per cent in the first three months of 2012, the second consecutive quarter of decline, Investment Property Databank (IPD) said. Values are 31 per cent below 2007 levels, making it difficult to refinance
        Bloomberg; BLOOMBERG  -  209 words
      • Article
        Lock icon Reits a bright spot in real estate gloom: Jefferies
        174 35 Reuters Bangalore JEFFERIES Co took an upbeat view of UK real estate investment trusts (Reits) citing an increased flow of overseas money into the sector and stable rents at prime London properties. The brokerage said it was seeing a broadening international
        Reuters  -  174 words
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      Lock icon Page 36 Advertisements Column 1
      81 36 GO O r O CD > TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. t -r iUDEMARS PIQUET i Brass us Ye <45 1 s* m v a-- ORI DE .PIGUE'T'BOUTIQUE >. s y OWERS’,#01 -03 •> s -.V r* T% :.>0;'. it* T 4 > jlfcv > •T‘s^
      81 words
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      65 1 LivingBTTHE BUSINESS TIMES WEEKEND MAY 5-6 2012 WORLD GOURMET SUMMIT Three chefs worth watchingL6-7 HOUSEHOLD ADDITIONS The latest furniture stores in town L2-5 WEEKEND WITH Paul Hopkins of Barclays Bank L13 IBRIDE DESIGNS FOR FRED LIVES HERE GADGETS Gifts to make Mom's life easier L14 TRAVEL A well-guarded trek in
      65 words
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  • BT Living
    • DESIGN
      • Article, Illustration
        Lock icon Household additions
        2423 2 / 3  -  BT Weekend checks out some hot new furniture stores, and gets a sneak preview of what’s coming our way next month By Tan Teck Heng thtan@sph.com.sg By Debbie Yong debyong@sph.com.sg By Dylan Tan, Rachel Loi dylantan@sph.com.sg rachloi@sph.com.sg A trip to Wonderland Fred Lives Here 108 Emerald Hill Road
        PHOTOS COURTESY OF FRED LIVES HERE; PHOTOS COURTESY OF FULLHOUSE; FRANCFRANC PHOTOS, UNLESS OTHERWISE STATED, BY YEN MENG JIIN; PHOTOS COURTESY OF GOODS OF DESIRE  -  2,423 words
    • DINING
      • Article, Illustration
        Lock icon Chefs to watch
        2154 6 / 7  -  guest chefs With the 2012 World Gourmet Summit wrapped up on Thursday, Debbie Yong spotlights three ambitious chefs who are serving up cuisines on the cutting edge Debbie Yong debyong@sph.com.sg Spanish flourish of the nouveau Paco Roncero (Spain) HE’S best known for being Ferran Adria’s most outstanding
        PHOTOS: WORLD GOURMET SUMMIT  -  2,154 words
      • Article, Illustration
        Lock icon Apps for the hungry
        880 8  -  The easy way to book a restaurant, look for specific types of food and special promotions. By Rachel Loi rachloi@sph.com.sg Foodspotting has one of the most pleasant looking interfaces. Reserveit.sg LOOKING to have dinner at a popular restaurant but can’t get through the busy telephone line?
        880 words
      • Article, Illustration
        Lock icon Rising above the rest
        771 9  -  Gontran Cherrier, one of the marquee bakery names in Paris, now holds court in Tiong Bahru. By Jaime Ee jaime@sph.com.sg STAND back, Maison Kayser and Paul Boulangerie. The two French heavyweights whose baked goods are currently the pain du jour for the Orchard Road in-crowd are
        GONTRAN CHERRIER LOCATION PHOTOS: YEN MENG JIIN  -  771 words
    • TRAVEL
      • Article, Illustration
        Lock icon A walk on the intriguing side
        1371 10 / 11  -  A well-guarded trek offers a piece of modern Korean history as well as a picturesque panorama of the South Korean capital of Seoul. By Choe Sang-Hun IHT Seoul ON a clear day, the peak called Bukaksan soars up behind the Blue House, South Korea’s
        IHT; REUTERS; NYT PHOTOS  -  1,371 words
    • STYLE
      • Article, Illustration
        Lock icon Louboutin milestone
        537 12 London museum holds retrospective exhibition marking French shoe designer’s 20 years in business AFP London A GIANT 3D hologram of a burlesque dancer greeted foot-wear-lovers on Monday at a playful London exhibition marking 20 years since celebrated French shoemaker Christian Louboutin first set up shop. The exhibition at
        AFP; AP, REUTERS  -  537 words
    • WEEKEND WITH
      • Article, Illustration
        Lock icon Walkingthe talk
        1053 13  -  Give Paul Hopkins a good cause and he will walk great distances to raise awareness and funds for it. WEEKEND WITH By Cheah Ui-Hoon uihoon@sph.com.sg PAUL Hopkins may not like running, but he can walk for long distances. And this June, the head of Funds and Advisory for
        1,053 words
    • GADGETS
      • Article, Illustration
        Lock icon Gadgets Mom will love
        782 14  -  The right technology can make mothers’ lives much easier, and Christopher Lim has found the perfect Mother’s Day gift for moms of all sorts Christopher Lim limchris@sph.com.sg Shutterbug moms Canon PowerShot G1 X camera $999 Choosing the right camera to snap pictures of young children is
        782 words
    • HEALTH
      • Article, Illustration
        Lock icon Stiffness of the heart
        991 15  -  There is an increasing number of patients with presentation consistent with a heart attack but have no significant blockage of heart arteries. By Michael Lim By Michael Lim ~Dr Lim is medical director at the Singapore Heart, Stroke Cancer Centre. He is also editor-in-chief, Heart Asia;
        REUTERS  -  991 words
    • SPORTS
      • Article, Illustration
        Lock icon Tough battles ahead for the Irish
        627 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Correspondent IT has been 24 long years since the Republic of Ireland last appeared at football’s European Championships, and exactly a decade since it last played in a major tournament when it featured at the 2002 World Cup.
        NG JUN SEN/THE NEW PAPER  -  627 words
      • Article, Illustration
        Lock icon Time to turn up the Heat
        498 16  -  slam dunk with steve dawson IT has been nearly two years since LeBron James took his talents to South Beach when he joined the Miami Heat in a controversial move. The world needed him to fail simply because his sense of self was only
        PHOTO: REUTERS  -  498 words
    • GOLF
      • Article, Illustration
        Lock icon Taking a leaf from the greens
        1114 17  -  Moss surveys what’s on the shelves and sifts out a few compelling reads Justine Moss btnews@sph.com.sg VISIT most online or high street bookshops and you are likely to stumble onto a vast number of golfing reads. Invariably there are those which promise to fix
        PHOTOS BY YEN MENG JIIN  -  1,114 words
    • MOTORING
      • Article, Illustration
        Lock icon LEXUS REDEFINED
        640 18  -  Both are Japanese and premium models with distinctive styling and 2.5-litre V6 engines driving the rear wheels. Samuel Ee drives two alternatives to the German mid-sized luxury sedan, the Lexus GS250 and the Infiniti M25 Samuel Ee samuelee@sph.com.sg YOU could say that the new Lexus GS, with its
        640 words
      • Article, Illustration
        Lock icon INFINITE STYLE
        528 19 samuelee@sph.com.sg ONE aspect of the Infiniti range that is often highlighted is its relatively large engine size. Not any more. Nissan’s luxury division still offers its well-known 3.7-litre V6 power plants but now that the carmaker is also targeting the Asia-Pacific and not just the US market anymore,
        528 words
      • Article, Illustration
        Lock icon Crossover competence
        530 20  -  The Mazda CX-5 is a compact crossover with fuel efficiency and a roomy interior. By Samuel Ee samuelee@sph.com.sg THE brand that used to make super cool sports cars with a small but punchy rotary engine is planning its resurgence with a compact crossover. Mazda’s CX-5 is a soft-roader
        530 words
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      771 12 wine&dinewith BTWeekend Mandarin Court Level 35, Mandarin Orchard Singapore, 333 Orchard RoadZ6831-6288 Ascend 35 stories of the Orchard Wing and arrive in style at Mandarin Court Chinese Restaurant, the home of authentic Cantonese cuisine. Delight in Executive Chinese Chef Sunny Kong’s signature dishes such as Classic Peking Duck, Double-boiled Assorted
      771 words
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      34 14 HOME NEE Can't stop that leak? Time to call in the professionals. To find out more, turn to CLASS 118 in CATS Classified in The Straits Times now. \r i BUY IT-SELL IT-FIND IT
      34 words
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