The Business Times, 16 May 2012
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2012-05-16
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The Business Times
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Title Section25 2012-05-16 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 120/08/2011 Wednesday, May 16, 201225 words
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Article, Illustration928 2012-05-16 1 NEIL BEHRMANN - Greece heads back to polls; EU scrambles to protect Italy, Spain from fallout By NEIL BEHRMANN By in London AS Greece headed for fresh elections and a possible exit from the eurozone, European leaders were preparing protect to other vulnerable nations from contagion.AP - 928 words
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MARKETS DIGEST
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Article110 2012-05-16 1 GST INDEX 2,876.70 (+12.58) GST INDEX FUTURES 2,877 (+14) GSIMSCI 329.33 (+1.49) GSIMSCI FUTURES 329.00 (+1.40) us$ s$ US$ (S$ per US$) 1.256 (US$/S$ per 1.610 2.021 EURO (US$/S$/E) 1.286 1.615 Foreign currency per US$ S$ YEN 79.90 63.70 RM 3.079 2.452 HK$ 7.765 6.184 BAHT 31.33 24.95 RUPIAH110 words
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Article17 2012-05-16 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.363 TAIWAN 5.036 JAPAN 1.475 Source: Bloomberg17 words
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837 2012-05-16 1 TEH SHI NING - By TEH SHI NING [SINGAPORE] Business sentiment in Q1 was markedly more upbeat than in the previous quarter, the latest Business Times-UniSIM Business Climate Survey found. But that optimism might be overstated as it often is when the economy837 words
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Advertisement78 2012-05-16 1 EXEC MONEY Bullish on China credit PAGE 36 Deutsche Bank db.com Only a strong bank can be a good partner. Best Global Bank Euromoney Awards for Excellence 2011 This advertisement has been approved and/or communicated by Deutsche Bank AG and appears as a matter of record only. The services described78 words
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Advertisement13 2012-05-16 1 FUTURE OF TRADE Where there’s risk there’s reward PAGE 11 8 *****1 *****413 words
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Advertisement29 2012-05-16 1 STRAIT TALK Tough times for tanker owners PAGE 24 Who’s Who in Law Don’t miss this special 12-page section that comes with your copy of The Business Times today.29 words
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Advertisement10 2012-05-16 1 S’PORE ARTS FEST Having fun with Wagner’s music PAGE 2110 words
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TOP STORIES
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Article547 2012-05-16 2 Fears of contagion as Greek crisis deepens AS Greece headed for fresh elections and a possible exit from the eurozone, European leaders were preparing to protect other vulnerable nations from contagion. They are expected to agree on the instant use of a firewall to save Spain, Italy and547 words
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996 2012-05-16 2 MICHELLE TAN - Elevated monthly sales could become a trend, with robust figures since Feb By MICHELLE TAN [SINGAPORE] Elevated sales figures for private homes may become the new norm given the sector’s sustained record performance over the past few months, say industry watchers. “When strong996 words
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941 2012-05-16 2 KALPANA RASHIWALA - By KALPANA RASHIWALA [SINGAPORE] For the fourth consecutive month, the government has announced the launch of 99-year leasehold private housing sites under its land sales programme on the same day as it released numbers on buoyant monthly developers’ sales figures. In the latest941 words
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Article61 2012-05-16 2 IN “SingTel mio draws viewer ire over interrupted EPL finale”, we said that the Media Development Authority (MDA) did not respond by press time. This is incorrect. The MDA did send a statement stating that it is investigating complaints regarding mioTV’s broadcast of the Barclays Premier League. This response,61 words
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Article, Illustration655 2012-05-16 4 VICTORIA HO - 127,000 officers across 15 ministries and 50 stat boards to share resources By VICTORIA HO [SINGAPORE] The envisioned massive government cloud will be built, and Singapore has given the job to SingTel. Infocomm Development Authority (IDA) CEO Ronnie Tay announced yesterday that the five-year tender655 words
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388 2012-05-16 4 TEH SHI NING - By TEH SHI NING [SINGAPORE] Even as the prospect of Greece exiting the eurozone now looms large, developments in Europe may have little direct impact on businesses here, going by a recent poll. No European nation made it to a list of388 words
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Article, Illustration486 2012-05-16 4 LEE U-WEN - Elections Dept has issued certificates to four people By LEE U-WEN [SINGAPORE] In a surprise development, the upcoming by-election in Hougang could well turn out to be a multi-cornered fight. Apart from official candidate of the Workers’ Party, another of its members has thrown486 words
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613 2012-05-16 4 LATEST US DATA Bloomberg [WASHINGTON] Retail sales in the US rose at the slowest pace of the year while the cost of living was little changed for the month of April. The Commerce Department figures showed that unseasonably mild weather andBloomberg - 613 words
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677 2012-05-16 4 JOYCE HOOI - Buy it don’t build it, and they will come SingTel buying into other firms’ tech savviness COMMENTARY By JOYCE HOOI [SINGAPORE] EVER since mio TV went on the fritz during the final matches of EPL football season on Sunday, irate SingTel customers have swamped its Facebook page, asking the telco677 words
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473 2012-05-16 4 Reuters [HONG KONG] Macquarie Group, US-based Principal Financial Group and Singapore’s United Overseas Bank (UOB) are among suitors that have submitted bids for ING’s Asian asset management business in a deal that may be worth around US$500-600 million, said sources familiarReuters - 473 words
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Advertisement116 2012-05-16 2 STANFORD-NUS EXECUTIVE PROGRAM IN INTERNATIONAL MANAGEMENT 25 AUG 08 SEPT 2012 Real-World Strategies For Global Business. Immerse in the vibrant cultures of two of the world’s most respected academic institutions. The Stanford-NUS Executive Program, held in Singapore since 1982, has been for many, a foundation for assuming greater leadership roles.116 words
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Advertisement1152 2012-05-16 3 ADVERTISING FEATURE N G ationa ‘OWS... As proof of the demand for a car built to deliver "Quality Time" on the road, the Peugeot 508 has become the French automotive's biggest seller. What Car? UK has labelled this executive sedan "one of the best cars in this class" and "a1,152 words
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COMPANY NEWS
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555 2012-05-16 6 KENNETH LIM - It expects cyclical weakness in industrial materials, financial services By KENNETH LIM COMMODITIES trader Olam International reported a 23 per cent drop in fiscal third-quarter earnings amid persistently weak market conditions for cotton and wood products. Net profit attributable to shareholders fell555 words
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Article, Illustration776 2012-05-16 6 KENNETH LIM - But analysts optimistic that year ahead will be stable By KENNETH LIM SOFT commodities were perhaps a little too limp in the March quarter as weak soybean crushing margins and seasonal factors led to a set of lacklustre earnings for the commodities sector.REUTERS - 776 words
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566 2012-05-16 9 KELLY TAY - It proposes 1 -for-1 bonus issue; reports purchase of freehold property for $360m By KELLY TAY FRAGRANCE Group Ltd, through wholly owned subsidiary Fragrance Grandeur Pte Ltd, has acquired, for $360 million, a freehold property with a land area of 3,654.5 square566 words
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332 2012-05-16 9 TIMOTHY LOH - By TIMOTHY LOH NEWLY listed Global Premium Hotels (GPH), the hospitality arm of property company Fragrance Group, posted a 46.9 per cent rise in net profit attributable to shareholders for the first quarter ended March 31, 2012, to $6.36 million from $4.33332 words
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Article372 2012-05-16 9 CONRAD TAN - By CONRAD TAN EU Yan Sang International’s net profit fell 51 per cent to $5.49 million in the three months to end-March from a year ago, dragged down by higher expenses from its expansion in Australia and China. The health food distributor said that372 words
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Article, Illustration367 2012-05-16 9 NISHA RAMCHANDANI - By NISHA RAMCHANDANI RESORT operator Banyan Tree Holdings posted a 19 per cent increase in net profit to $11.99 million for the first quarter ended March 31, on the back of a net gain on a bargain purchase of assets in the Seychelles. Revenue367 words
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365 2012-05-16 9 CONRAD TAN - By CONRAD TAN HONG Leong Asia’s firstquarter net profit from continuing operations fell 24.8 per cent to $13.9 million from a year ago, as revenue declined and finance costs rose. Revenue from continuing operations for the three months to March 31365 words
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Article, Illustration484 2012-05-16 10 RACHEL AU-YONG - 2.8m shares will be for public subscription, and 95m for placement By RACHEL AU-YONG HOMEGROWN civil engineering firm Swee Hong Ltd is going public, offering 68.5 million new shares and 29.3 million vendor shares at 22.5 cents apiece for a mainboard listing.ARTHUR LEE - 484 words
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364 2012-05-16 10 JASMINE NG - By JASMINE NG UNITED Engineers’ net attributable profit to shareholders halved to $9.74 million for the first quarter ended March 31, from $19.57 million a year earlier. UE said that excluding the one-off sale of UE Print Media Hub, impairment losses on properties364 words
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Article298 2012-05-16 10 GLENN CHOO - By GLENN CHOO STEEL distributor and processor HG Metal Manufacturing Ltd posted a net loss of $1.92 million for the second quarter ended March 31, against a net profit of $3.27 million a year earlier. The company said this was due mainly to298 words
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COMPANY BRIEFS
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52 2012-05-16 10 FIRST Resources announced a 60.2 per cent rise in net profit for Q1 2012 to US$48.95 million, from US$30.56 million a year ago. Earnings per share rose to 3.32 US cents, from 2.09 US cents a year ago. Sales climbed 81.7 per cent to52 words
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Article56 2012-05-16 10 NAM LEE Pressed Metal Industries posted a 30.9 per cent year-on-year increase in earnings to $7.29 million for the fiscal six months ended March 31, 2012. Turnover increased 16.1 per cent to $93.37 million from a year ago, on increase of sales volumes in56 words
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Article49 2012-05-16 10 BULK shipping company Courage Marine reported a net loss of US$1.16 million for the first quarter ended March 31, 2012, against a net loss of US$3.18 million a year earlier. The latter took into consideration a US$517,000 gain on revaluation of leasehold and building.49 words
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Article59 2012-05-16 10 ABTERRA Ltd’s net loss widened in the fiscal first quarter ended March 31, 2012, to $4.5 million, on revenue of $3.09 million. A year ago, the group posted a net loss of $3.77 million despite not generating any revenue due to the disruption of supplies59 words
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Article54 2012-05-16 10 HIAP SENG Engineering expects to record a net loss for the fourth quarter ended March 31, citing losses incurred from its compression and process equipment fabrication business and from an associated company in Thailand. For the full year, the group expects to report a54 words
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Advertisement1160 2012-05-16 6 >«* KATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices BEAMSiSff 10 DES VOEUX ROAD CENTRAL, HONG KONG CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31ST DECEMBER 2011 CONSOLIDATED INCOME STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2011 Goodwill and intangible assets 4,215 4,188 Deferred tax assets 377 410 Total Assets1,160 words
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Advertisement259 2012-05-16 6 MM $5 Million Anniversary Draw Group 1 Prize snowballed to 6S $5,794,317 Draw on Fri, 18 May 2012, 9.30pm Visit www.singaporepools.com.sg for details. Ip yX Always play with care. |responsiblyj Do not bet illegally. RGB Reg No; *****0202G Towards Community Purpose and Benefit SINGAPORE m POOLS Yiyi Folk L\J~r Culture259 words
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Advertisement132 2012-05-16 7 r <2g) TOYOTA ALWAYS BETTER. J w u 77 BUILT TO THRILL 77 r A K -rr :n h '■i TOYOTA 86 BUILT TO THRILL. THE ALL-NELUTOYOTA 06. Add to the thrill with a complimentary early bird upgrade a TRD Aerokit worth $7,000. Limited units only. Its sharp and aggressive132 words
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SINGAPORE MARKETS
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Article, Illustration611 2012-05-16 8 R SIVANITHY - Technical bounce led by UOB, DBS and Keppel Corp; penny stock JEL Corp made a comeback in the actives list STOCKS R SIVANITHY Senior Correspondent AFTER falling 125 points in just over a week, the Straits Times Index yesterday benefited from a spot ofSource: Bloomberg - 611 words
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Article66 2012-05-16 8 May 15 VALUE CLOSE BT OB/OS -987.00 +132.0 BT CADI -*****.00 +23.0 BT 10-day MA -*****.00 -99.00 FTSE ST Mid Cap 660.50 +2.30 FTSE ST Small Cap 427.35 +0.41 FTSE ST All Share 694.13 +2.81 FTSE ST China Top 198.48 +2.18 FTSE ST China 229.57 +1.16 FTSE66 words
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Article186 2012-05-16 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 6 3 0 0 0 7 6 3 Manufacturing 50 56 35 6 7 8 56 63 43 Commerce 20 21 16 5 4 1 25 25 17 Tpt/Stor/Comms 21 9 9186 words
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Article, Illustration477 2012-05-16 8 Genting Hong Kong (S$0.33) Selling pressure mounts The share price has staged a breakout below its 200d-EMA. This is a negative signal that a bearish trend is forthcoming. DMI is also negatively placed, which supports the negative bias. Risk is on the downside and477 words
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Article119 2012-05-16 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 22,114 22,114 106,374 106,374 Manufacturing 267,082 95,070 362,152 192,919 4,246 197,165 Commerce 313,011 13,228 326,239 192,345 1,205 193,550 Tpt/Stor/Comms 112,191 17,214 129,405 195,086 4,837 199,923 Finance 20,531 20,531 157,386 157,386 Construction 120,714 26,784 147,498 7,725119 words
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Article, Illustration591 2012-05-16 8 CURRENCIES [HONG KONG] Asian shares mostly fell while the euro hit a four-month low yesterday amid growing concern about Greece’s eurozone future as talks on forming a government have failed. Dealers are also keeping an eye on Spain as the country’s banking sectorAFP; BLOOMBERG - 591 words
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Article109 2012-05-16 8 Stock name Close Change CapMallsAsia 1.420 -0.010 CapitaLand 2.690 +0.040 CapitaMall 1.790 +0.005 CityDev 10.250 +0.040 ComfortDelGro 1.465 +0.005 DBS Grp 13.770 +0.090 F&N 6.840 +0.040 GLP 1.970 Genting SP 1.590 -0.015 Golden Agri 0.690 HK Land 5.990 JMH 50.000 +0.340 JSH 32.100 +0.230 Jardine C&C109 words
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Article55 2012-05-16 8 VOLUME JEL Corp 147,782,000 MDR 72,955,000 Golden Agri 60,716,000 Genting SP 47,413,000 HLH Grp 45,032,000 Plastoform 41,982,000 ChinaFashion 41,195,000 NexGenSCom 36,051,000 UniFiber 34,493,000 Noble Grp 32,247,000 VALUE($) SingTel 87,945,352 Genting SP 75,500,502 Keppel Corp 73,812,230 JMH 70,647,520 DBS Grp 70,055,774 Olam 46,029,140 SembMar 44,699,410 UOB 42,210,552 Golden55 words
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Article102 2012-05-16 8 BY CENTS CLOSE UP JMH 5000 42.7 0.7 DBXT AUDCS 5AU$ ***** 31.4 0.1 JSH 3210 28.9 0.7 UOB 1831 21.0 1.2 Keppel Corp 1028 19.0 1.9 Creative Tech 365 15.0 4.3 DBXT FTChina25 10US$ 2609 11.3 0.3 SembCorp Ind 487 11.0 2.3 Biosensors 123 10.5 9.3 SembMar.ES.1205 464102 words
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Article126 2012-05-16 8 BY CENTS CLOSE DOWN Lyxor Indonesia10US$ 9011 -268.7 -2.3 DBXT Nifty 10US$ 9138 -252.3 -2.2 IS S&P500 ***** -134.3 -0.8 DBXT MSKorea 10US$ 5457 -129.3 -1.9 DBXT FTVietnam 10US$ 2544 -85.4 -2.6 GLD 10US$ ***** -55.2 -0.3 DBXT MSEurope 10US$ 4070 -54.0 -1.0 Jardine C&C 4505 -53.0 -1.2 DBXT126 words
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Advertisement1410 2012-05-16 9 r r r k v 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 Rent Show Off Your Prize Bull Call 1800 289 8822 I or e-mail I notices@sph.com.sg to1,410 words
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Advertisement118 2012-05-16 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 AND118 words
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FUTURE OF TRADE
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Article, Illustration1182 2012-05-16 11 CONRAD TAN - For Tionale’sfounder, no risk including the biggest challenge, payment is unmanageable.CONRAD TANreports CONRAD TAN RAJAN Bharvani, the founder, chairman and managing director of trading company Tionale Pte Ltd, is used to living with risk. Tionale’s customers and suppliers span more than 80 countries, including emerging marketsARTHUR LEE - 1,182 words
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367 2012-05-16 11 JOSEPH ARENA - By JOSEPH ARENA The writer is head of global trade and receivables finance, HSBC Singapore UNTIL recently, trade growth was driven by the economic performance of developed countries trading with emerging countries. Now, one of the key drivers of trade growth is emerging markets importing from367 words
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Advertisement116 2012-05-16 11 In the future, new trade corridors will be norm not novelty. Over the next fifteen years, exports from Brazil to China are predicted to grow by around 125%*. Direct trade between emerging markets is powering the global economy. But what will it mean for you and how can your business116 words
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SINGAPORE NEWS
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354 2012-05-16 12 RONNIE LIM - Greenhouse gas emissions cut by about 84%: refiner By RONNIE LIM THERE is nothing fishy about the latest goings-on at Neste Oil’s $1.2 billion renewable biodiesel plant in Singapore. The fact is the Finnish oil refiner has just begun to use354 words
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346 2012-05-16 12 NISHA RAMCHANDANI - 9.1% year-on-year increase beats economists’ expectations of 7.2% expansion By NISHA RAMCHANDANI RETAIL sales for March registered a growth of 9.1 per cent year-on-year, beating economists’ expectations of a 7.2 per cent increase. Excluding motor vehicles, retail sales increased 6.5 per cent. Retail sales346 words
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Article, Illustration437 2012-05-16 12 MINDY TAN - Development will be priced at an average A$10,812 psm By MINDY TAN SINGAPORE developer Frasers Centrepoint’s Australian arm will be launching a residential development in Sydney this week. The joint launch by Frasers Property Australia and Sekisui House Australia will be the third437 words
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586 2012-05-16 12 NISHA RAMCHANDANI - Another store will open at Jurong Gateway By NISHA RAMCHANDANI RETAIL group Robinsons is investing $40 million towards a new flagship store at The Heeren, which is likely to open mid-next year. “The plan (for Robinsons) in Singapore is to grow,586 words
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402 2012-05-16 12 RONNIE LIM - By RONNIE LIM NATURAL gas from Indonesia’s Natuna is flowing again to YTL-owned genco PowerSeraya and seven other petrochemical plants, three weeks after their supplies were disrupted by a leak at an onshore gas pipeline on Jurong Island. “Gas supply402 words
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211 2012-05-16 12 SINGAPORE developer Far East Organization (FEO) has clinched a prestigious international award for its property project Hillvista. It’s the seventh time Far East has won the FIABCI (International Real Estate Federation) Prix D’Excellence award, and the only developer in the world to211 words
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437 2012-05-16 12 MINDY TAN - Keen interest shows adoption of tech to boost productivity By MINDY TAN THAT this year’s building information modelling (BIM) Competition attracted triple the participation rate of last year’s inaugural competition, at over 300 participants from close to 40 teams, speaks volumes of how437 words
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ACCOUNTANTS FOR BUSINESS
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Article, Illustration1230 2012-05-16 13 LEE U-WEN - Finance professionals seen adapting to take on a bigger role with more scope and responsibilities, reports LEE U-WEN reportsLEE LEE U-WEN THEIRS is an unenviable job, to say the least. They say that the finance department forms the bedrock of an organisation and is aAFP - 1,230 words
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Page 13 Advertisements
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Advertisement133 2012-05-16 13 Accountants for Business: Creating Sustaining Value in Uncertain Times 2 ACCA Singapore Annual conference 1 June 2012 In light of the uncertain global economy, what lies ahead for Singapore? How will the accounting services sector, in particular, be affected? The conference will discuss developments from around the world and its133 words
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ECONOMY WATCH
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742 2012-05-16 14 MALMINDERJIT SINGH - Myriad rules complicate; wider global agreement more relevant By MALMINDERJIT SINGH THE spaghetti bowl of free trade agreements that countries engage in may not be the most effective means of trade liberalisation. Instead, a wider global trade agreement may be more relevant742 words
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Article, Illustration844 2012-05-16 14 BoE’s role widened to include regulating the financial system Reuters [LONDON] A huge change in the Bank of England’s remit has thrown open the race for a successor to governor Mervyn King, leading to one critique that no one but a“superhuman”Reuters; AFP (MAIN PHOTO), BLOOMBERG - 844 words
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Advertisement156 2012-05-16 14 BTA Incorporating: BuildTechAsia2012 International Building Technology Expo ConMach Asio20\2 NewMateAs/a20/2 EleMechAsia20\2 Redefining the Future of Construction 15-17 May I 10am to 6pm daily Sands Expo and Convention Center at the Marina Bay Sands, Singapore LAST 2 For more information, visit www.buildtechasia.com MBS car park charges at SG$6 for BuildTechAsia2012 attendees156 words
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MALAYSIA
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Article, Illustration536 2012-05-16 15 S JAYASANKARAN - Consortium of 14 oil companies, led by unit of CPC, eyes projects in Johor By S JAYASANKARAN in Kuala Lumpur A UNIT of Taiwanese state-run oil refiner CPC Corporation could lead a consortium of 14 Taiwanese oil companies to invest US$14536 words
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294 2012-05-16 15 [PETALING JAYA] None of six companies pre-qualified to supply rolling stocks for the Sungai Buloh-Kajang My Rapid Transit (MRT) project has submitted their bids, the government agency in charge of the project confirmed. MRT Corp CEO Azhar Abdul Hamid told Malaysian newspaper,294 words
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428 2012-05-16 15 PAULINE NG - Capital appreciation ranks high, says PropertyGuru CEO By PAULINE NG By in Kuala Lumpur SECURITY or crime issues top the list of concerns for prospective Singaporean buyers of Malaysian real estate, but the ability to flip an asset quickly is also a major428 words
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Advertisement109 2012-05-16 15 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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Advertisement1258 2012-05-16 15 Bank Sarasin Co. Ltd Consolidated Balance Sheet as at 31 December 2011 1,000 CHF 31.12.2011 31.12.2010 Assets Cash and cash equivalents 192,827 182,613 Money market papers 537,058 670,377 Due from banks 2,571,929 2,541,838 Due from customers 9,932,036 9,457,417 Trading portfolio assets 693,503 496,846 Derivative financial instruments 528,665 453,260 Financial investments1,258 words
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GREATER CHINA/INDIA
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594 2012-05-16 16 Inbound investment fell 0.7% from year ago, raising fears of deeper slowdown Bloomberg [BEIJING] Foreign direct investment in China fell for a sixth month in April, the longest stretch of declines since the global financial crisis, amid renewed turmoil in financialBloomberg - 594 words
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274 2012-05-16 16 Bloomberg [SHANGHAI] China Vanke Co, the country’s biggest publicly traded developer, will pay HK$1.08 billion (S$ 174.6 million) for 74 per cent of Hong Kong-traded Winsor Properties Holdings Ltd to expand overseas. Winsor, controlled by Wing Tai Properties Ltd, will hold aBloomberg - 274 words
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Article, Illustration305 2012-05-16 16 Reuters [MUMBAI] Indian authorities are investigating top mobile phone carrier Bharti Airtel under provisions of the country’s money laundering and foreign exchange rules, a minister said yesterday, sending its shares down as much as 5.1 per cent. The Directorate of Enforcement is investigatingReuters; BLOOMBERG - 305 words
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Advertisement1432 2012-05-16 16 Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices > THE BANK OF NEW YORK MELLON The Bank of New York Mellon Corporation (and its subsidiaries) Head Office: One Wall Street, New York, NY *****, U.S.A Singapore Branch: One Temasek Avenue, #02-01 Millenia Tower, Singapore *****2 CONSOLIDATED BALANCE SHEETS (United States dollar amounts1,432 words
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WORLD
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413 2012-05-16 17 CEO says firm may clawback past compensation from involved staff Reuters, Bloomberg, AP Bloomberg AP [TAMPA, Florida] JPMorgan Chase Co is making “many changes in policies and procedures” following billions of dollars in trading losses, chief executive Jamie Dimon said at the company’sReuters, Bloomberg, AP; Bloomberg; AP - 413 words
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Article, Illustration508 2012-05-16 17 French president in Berlin for summit with Merkel AP AFP Reuters [PARIS] Francois Hollande was sworn in as president of France yesterday with a solemn vow to find a new growth-led strategy to end the debt crisis threatening to unravel the eurozone. HeAP; AFP; Reuters - 508 words
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401 2012-05-16 17 Reuters [BRUSSELS] The eurozone just avoided recession in early 2012 but the region’s debt crisis sapped the life out of the French and Italian economies and widened a split with paymaster Germany. Eurozone gross domestic product stagnated in the first quarter, the EU’sReuters - 401 words
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385 2012-05-16 17 Reuters [ROME] Italy’s banking and business community responded angrily yesterday to Moody’s mass downgrade of Italian banks, calling the move irresponsible and an assault on the austerity-hit country as it struggles with an economic crisis. Italian banks, already battling with shrinking demandReuters - 385 words
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Article, Illustration884 2012-05-16 18 But analysts don’t expect any dramatic action or statement on the eurozone AFP [WASHINGTON] Dashed hopes that Europe may be escaping its debt crisis will darken the mood on Friday as President Barack Obama welcomes leaders of the Group ofAFP; PHOTOS: AFP, REUTERS - 884 words
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Article, Illustration492 2012-05-16 18 Move could bolster company’s valuation above US$100b Reuters [NEW YORK] Facebook has increased the price range in Silicon Valley’s biggestever initial public offering to raise more than US$12 billion, a source familiar with the situation said, giving the No1 social network a valuation potentially exceedingReuters; PHOTO: BLOOMBERG - 492 words
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Article, Illustration466 2012-05-16 19 Murdoch confidante charged with concealing evidence linked to probe Reuters [LONDON] Rebekah Brooks, a close confidante of Rupert Murdoch, was charged yesterday with interfering with a police investigation into a phone-hack-ing scandal that has rocked the tycoon’s media empire and sent shockwaves through theReuters; PHOTO: AP - 466 words
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Article234 2012-05-16 19 It says cosmetics seller has missed deal deadline Reuters [NEW YORK] Fragrance company Coty Inc withdrew its US$10.7 billion takeover bid for Avon Produc t s I nc on M on d a y evening, saying that the world’s largest cosmetics direct seller had missedReuters - 234 words
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Article, Illustration1085 2012-05-16 20 Jobless seniors face long-term threat as impact of lost wages compounds Reuters [WASHINGTON] Jean Coyle, 67, has a new kind of ministry. The former professor had just begun a career as a Presbyterian minister in Virginia when the economic downturn forced her church to letReuters; AFP - 1,085 words
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Advertisement117 2012-05-16 17 A Legend is Born Based on one of the stories in the oldest book found in Japan where produce were found fresh and in abundance, Mikuni pays homage to the fabled richness of authentic Japanese cuisine, under the helm of Executive Chef Moon Kyung Soo. Enjoy Mikuni’s modern approach to117 words
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Advertisement1644 2012-05-16 18 ASIA FASHION HOLDINGS LIMITED (Company Registration No. *****) (Incorporated in Bermuda with limited liability) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Asia Fashion Holdings Limited (“the Company”) will be held at 6 Battery Road #10-01 Singapore *****9 on Thursday, 31 May 20121,644 words
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Advertisement277 2012-05-16 19 IN THE MATTER OF COMPANIES ACT, CAP 50 ENSENG TRADING COMPANY (PRIVATE) LIMITED (Reg. No. *****0158G) (In Voluntary Liquidation) NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap 50 the Final Meeting of the Company will be held at 101 Cecil Street #16-05 Tong Eng277 words
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Advertisement655 2012-05-16 19 Swee Hong Limited (Company Registration No.: *****1852R) (Incorporated in the Republic of Singapore on 3 June 1980) INITIAL PUBLIC OFFERING APPLY NOW! IPO CLOSES ON 21 MAY 2012 AT 12.00 NOON Civil Engineering Micro-Tunnelling ENGINEERING SOLUTIONS FOR Urbanised Cities INVESTMENT HIGHLIGHTS To recommend and distribute dividends of at least 20%655 words
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Advertisement2553 2012-05-16 20 DAVID CONNER Outgoing OCBC chief exec to receive $11.5m PAGE 6 AIR CARGO $15m boost from Changi Airport PAGE 23 BizIT Young start-up diving into travel industry’s deep waters PAGE 31 CENTA-MILLIONAIRES Tally of wealthy Asians overtakes N Americans PAGE 17 THEBUSINESSTIMES S$1.00 online at http://www.businesstimes.com.sg CO R GN NO2,553 words
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SINGAPORE ARTS FESTIVAL
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Article, Illustration625 2012-05-16 21 CHRISTOPHER LIM - Charlotte Engelkes tells CHRISTOPHER LIM that while her show has comedy in it, it’s never meant to be satire CHRISTOPHER LIM Nineteenth Century German composer Richard Wagner’s operas are not for the casual listener. And certainly not for the time-strapped the Ring Cycle is performed625 words
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Advertisement270 2012-05-16 21 RAFFLES CONVERSATIONS 2011 EDITI O N The diverse experiences of some of the most influential thinkers, corporate chiefs and social activists of the age MARC BENIOFF “We have always believed that everything was going into the cloud, because it was a model that allowed everyone to succeed.” SHIRISH APTE “Consumer270 words
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EDITORIAL & OPINION
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490 2012-05-16 22 EDITORIAL CONSIDER some of the major political developments over the past 10 days in Europe: an avowed socialist, Francois Hollande, is elected President of France. A general election in Greece in which extreme parties make major gains fails to produce a government. Protests erupt490 words
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Article, Illustration878 2012-05-16 22 DAVID MASON - THE BOTTOM LINE DAVID MASON The writer was a partner with Price Waterhouse Singapore for 18 years. He now runs his own consultancy in business communications in the UK. He spends several months a year with clients in Singapore. E-mail:878 words
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Article, Illustration1152 2012-05-16 22 ANTHONY ROWLEY - Rajat Nag wants the Asian Development Bank to be finance plus plus ANTHONY ROWLEY Tokyo Correspondent FOR a banker to be talking at a time like this about the need to gear up or “leverage” his institution’s lending by a large quantumFILE PHOTO - 1,152 words
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Article, Illustration1080 2012-05-16 23 YANNOS PAPANTONIOU - Eurozone not in any better shape despite lenders spending a trillion euros in the past two years By YANNOS PAPANTONIOU Yannos Papantoniou was Greece’s Economy and Finance Minister from 1994 to 2001. He is currently president of the Centre for Progressive Policy Research, an independentPHOTO CREDIT - 1,080 words
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Article, Illustration938 2012-05-16 23 HUGO DIXON - REUTERS BREAKINGVIEWS By HUGO DIXON WHEN eurozone policymakers are asked if there is a Plan B to cope with a Greek exit from the single currency, their typical answer goes something like this: “There’s no such plan. If there were, it would leak, investors wouldREUTERS - 938 words
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TransportHUB
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Article835 2012-05-16 24 DAVID HUGHES - In the face of terrible markets, increased environmental regulation and piracy, Intertanko has its work cut out STRAIT TALK By DAVID HUGHES LAST week the global tanker owners’ body Intertanko held its annual tanker event in Singapore. While a lot else went on, including an835 words
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Article, Illustration653 2012-05-16 24 Bloomberg [LONDON] The biggest hedge fund in shipping is turning bullish on the largest oil tankers for the first time in four years as the US push towards energy independence provides China with a greater share of global crude supply. The US isBloomberg; REUTERS - 653 words
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632 2012-05-16 24 High compensation, work schedule, perks being queried NYT [SAN FRANCISCO] Since the height of the Gold Rush, the San Francisco bar pilots have been guiding large vessels from the Pacific in and out of the harbours here and further inland, knowing asNYT - 632 words
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240 2012-05-16 24 Bloomberg [LONDON] An Iranian organisation that insures ships against risks such as spills and collisions has been approached by Asian tanker operators about covering their vessels, the group’s managing director said. Chinese and Taiwanese companies that manage tankers have inquired about obtainingBloomberg - 240 words
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Article255 2012-05-16 24 SGX '000 May 15 S$ +/-Vol CH Offshore 0.42 unch 827 Chuan Hup Hldg 0.22 unch 42 Cosco Corp 0.93 0.03 6743 s$ Ezra Hldgs 1.03 unch 7173 First Ship Lea 0.19 unch 336 Freight Links 0.06 unch 2936 Grand Banks unch unch 0 Jaya Hold Ltd 0.55255 words
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TRANSPORT HUB: AVIATION
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Article, Illustration562 2012-05-16 25 Planemaker will ramp up production to 8.3 per month by Q1 next year Bloomberg [DALLAS] Boeing Co has said that a wait of more than three years to deliver new 777 jets is crimping sales of the wide-body aircraft, which has becomeBloomberg; REUTERS - 562 words
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Article, Illustration257 2012-05-16 25 CARINE LEE - By CARINE LEE [SINGAPORE] Singapore Airlines (SIA) yesterday reported a 5.1 percentage point increase in year on year passenger load factor to 79.7 per cent for April. Systemwide passenger carriage increased 9.8 per cent year-on-year, while capacity increased 2.9 perBLOOMBERG - 257 words
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TRANSPORT HUB: LAND
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Article, Illustration639 2012-05-16 26 US carmakers are winning more trust, annual survey of suppliers shows Reuters [DETROIT] Car suppliers’ relations with Toyota Motor Corp and Honda Motor Co have soured to the worst level in 11 years, but US carmakers have won more trust, a survey showed. TheReuters; REUTERS - 639 words
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Article, Illustration586 2012-05-16 26 But he does not address talk of factory closure NYT [FRANKFURT] Opel, the European unit of General Motors, on Monday outlined the latest plan to end more than a decade of losses, saying that it would try to increase sales outside EuropeNYT; REUTERS - 586 words
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Advertisement79 2012-05-16 24 gSINfty SEN ARB +.*y HEMPASIL X3 Multiple awardwinning fuel-saving technology Guaranteed to save ship-owners money on fuel, HEMPASIL X3 is the world's most advanced fouling release system. It uses HEMPEL's unique hydrogel technology for unparalleled antifouling capability. Recognised as a major fuel-saving breakthrough for the maritime industry, HEMPASIL X3 is79 words
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Advertisement70 2012-05-16 24 TRADECHARGE$125/TEUSINGAPORE-PORTKELANG/CHENNAI As Operators facing several constraints on the CHENNAI sector we will introduce a TRADE CHARGE on all sailings wef 30th May '12 covering inter Alia the following: growing imbalanced nature of the trade increasing heavy weight containers productivity delays in Chennai resultant schedule correction requirements Should freight income continue70 words
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Advertisement10 2012-05-16 25 Find assorted properties for sale in Malaysia 0J <♦ m STPROPERTYsg10 words
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Advertisement936 2012-05-16 25 P M Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices CIMBBANK Statements of Financial Position as at 31 December 2011 The Group The Bank Statements of Income for the financial year ended 31 December 2011 The Group The Bank The notes to the financial statements form an integral part of the audited936 words
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Page 25 Miscellaneous
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Miscellaneous333 2012-05-16 25 CRYPTIC CROSSWORD Across 7 Naughty and not run after, we hear? (8) 9 Gosh, an honoured member is in the valley! (6) 10 Mary’s sister seen with smart hair (6) 11 Not completely clean clothes needed for hobbies (8) 12 Clown playing with a rock band, famous travellers from across333 words
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Advertisement928 2012-05-16 26 KATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices M Emirates NBD GROUP CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2011 ASSETS Cash and deposits with Central Bank Due from banks Loans and receivables Islamic financing and investment products Trading securities Investment securities Investments in associates and joint ventures928 words
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SINGAPORE STOCKS
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Article2633 2012-05-16 27 Transaction date: May 15 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Day Last Quote Div Gr Yld 123 92.5 AIMSAMPIReit 116.5 -0.5 726 117 115.5 116 116.5 7.2 11.12,633 words
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Article217 2012-05-16 28 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale (’000) High Low Buyer Seller C'vr P/E Smil 4.7217 words
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Article7648 2012-05-16 28 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt 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 EM Local Ccy Bond .0 9415/ Global Emerging Markets!7,648 words
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Article205 2012-05-16 28 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 50 31.5 AVJennings A36.5 +1.5 20 36.5 34.5 35 36.5 3.6 9.6 2.9 95 46 25.5 Genting HK US$ US33 unch 2938 33 32.5 32.5 33 2172.9205 words
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Article917 2012-05-16 28 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 103 99 CIMB APAC Div 100US$ US99 98.9 99.9 10.4 1261 856 CIMBAsean40 100US$ US1020 1001 1005 160 ***** ***** DBXT AUD Bonds 5AU$ A***** *****917 words
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FINANCE & COMMODITIES
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Article604 2012-05-16 29 May 15 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 8910.85 8930.78 8838.78 Jun12 8925.00 8935.00 8840.00 8915.00 ***** *****8 Sep12 8915.00 8915.00 8845.00 8910.00 25 8403 MSCI TAIWAN INDEX FUTURES SPOT 262.93 264.43 260.86 May12 263.50 264.30 260.40 263.70 ***** *****3 Jun12 262.30 263.20604 words
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373 2012-05-16 29 In local curr In S$ In US$ dy yr dy yr dy yr May 14 Index Change Change Change Change Change Change World Preliminary 862.0 -1.0 3.9 -0.7 0.6 -1.2 3.8 EAFE Preliminary 688.4 -1.4 0.9 -1.2 -2.6 -1.8 0.4 Europe Preliminary 1014.5 -2.1 -1.2373 words
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Article, Illustration129 2012-05-16 29 As on 14 May 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT JUN2012 1580.90 1558.40 1561.20 187 CURRENCY AUD-USD FUT JUN2012 .9982 .9942 .9952 1522 EUR-USD FUT JUN2012 1.2894 1.2827 1.2852 2477 BASE METAL COPPER FUT JUL2012 7992 7845 7845 2213129 words
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Article107 2012-05-16 29 May 14 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low May 12 1390.00 1404.00 1400.00 1373.50 Jul 12 1387.00 1406.00 1406.75 1376.00 Aug 12 1375.75 1393.50 1394.50 1364.25 Sep 12 1326.75 1350.75 1351.75 1327.50 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low May 12 50.80107 words
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Article76 2012-05-16 29 CRUDE OIL PRODUCTS May 14 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 110.56 -1.81 WTI (Near Mth) 94.43 -1.48 Dubai (1-Mth F) 106.88 -1.09 Tapis blend 117.42 -1.16 Minas 117.22 -1.16 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 100.83 -0.45 Jet Kerosene 123.82 -1.05 US$/barrel OpecOil Basket76 words
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Article22 2012-05-16 29 May 15 S$ Bid Offer 1-month 1.2554 1.2557 2-months 1.2553 1.2556 3-months 1.2551 1.2555 6-months 1.2541 1.2546 Source: OCBC22 words
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Article64 2012-05-16 29 May 14 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1983.00 2004.50 3 months 2025.00 2045.00 Copper, Grade A(US$/tonne) Cash 7900.00 8103.00 3 months 7840.00 8013.00 Lead(US$/tonne) Cash 2028.00 2066.25 3 months 2036.00 2072.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.00 *****.00 3 months *****.0064 words
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Article80 2012-05-16 29 May 14 COCOA (£/tonne) Close Prev High/Low May 12 1526 1550 1538/1520 Jul 12 1504 1539 1528/1502 Sep 12 1497 1530 1520/1495 Dec 12 1483 1517 1507/1480 COFFEE(US$/tonne) Close Prev High/Low May 12 2116 2100 2120/2090 Jul 12 2136 2127 2144/2124 Sep 12 2135 2128 2145/2125 Nov 12 213180 words
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1173 2012-05-16 29 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 1 150 316 9.25 24 Conv Ratio Baker Technology Ltd W*****6 1.1 1 32 23 24.55 6 Best World Intl Ltd W*****5 0.6 1 30 57 32.501,173 words
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Article470 2012-05-16 29 May 15 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.001 6.322 0.778 7.770 53.780 92.810 0.800 11.529 3.081 1.286 90.869 42.688 1.256 8.172 0.934 29.505 31.350 0.622 1.001 Canada 0.999 6.318470 words
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Article55 2012-05-16 29 May 15 (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 rates55 words
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Article154 2012-05-16 29 May 15 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2559 1.2568 1.0004 1.0009 Canadian dollar 1.2550 1.2563 0.9997 1.0005 Euro 1.6147 1.6152 1.2862 1.2863 NZ dollar 0.9762 0.9777 0.7776 0.7786 Sterling pound 2.0203 2.0213 1.6093 1.6097154 words
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Article136 2012-05-16 29 May 15 GOLD(US$/oz) May 15 May 14 Hong Kong 1566.00 1572.80 Mav 14 May 14 May 11 London 1562.28 1588.75 1563.12 1589.55 Source: Thomson Reuters CAST BAR May 15 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 152 63 5gm 432 316 10gm136 words
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Article91 2012-05-16 29 May 15 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****V 16-Aug-12 0.28 0.26 0.25 1-Year BY*****T 02-May-13 0.28 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.250 01-Feb-14 100.07 100.11 100.11 5-Year N*****0Z 2.375 01-Apr-17 108.8291 words
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Article57 2012-05-16 29 May 15 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 12 3200.0 3155.0 3200.0 3196.0 15 1327 Jun 12 3193.0 3153.0 3226.0 3169.0 1801 ***** Jul 12 3155.0 3150.0 3225.0 3155.0 ***** ***** Aug 12 3155.0 3145.057 words
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Article121 2012-05-16 29 As at 9am May 15 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.282 1.221 Can dollar 1.283 1.222 Euro 1.65 1.572 Sterling pound 2.061 1.982 NZ dollar 1.004 0.957 US dollar 1.275 1.226 Local dollars to 100 units of foreign121 words
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Article154 2012-05-16 29 May 15 $S Offer Bid 0vernight 0.02 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.05 US$ 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 12154 words
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3673 2012-05-16 30 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 TBN3,673 words
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Advertisement47 2012-05-16 30 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 2012-05-16 30 USE THIS SPACE TO SELL, CALL JOE WONG AT 9620 1327 TO ADVERTISE. _The Business Times Shipping Times18 words
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Advertisement86 2012-05-16 31 !'><_'*.||:}.:@%?\<@%{"^>}=+}?/ urgently needed by shippers Can they find your services Here in the Shipping Times? The Business Times 9620 1 ADVERTISE, CALI lOE WONG Celebrate Your Project Completion Come publicise your Project Completion, Ship Christenings Delivery of Newbuilds, Vessel Conversion Refurbishment, Award Wins Certifications, Corporate Image, Corporate Developments and Company86 words
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EXECUTIVE MONEY
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Article, Illustration560 2012-05-16 32 However, the need to downsize has led to a rise in renting and sharing Reuters [NEW YORK] Millions of families displaced after the housing market imploded haven’t totally shattered the American dream owning a home remains a priority for the majority of adults, accordingReuters - 560 words
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381 2012-05-16 32 Reuters [LONDON] UK plc could face a £100 billion (S$201.6 billion) bill over the next three years to plug rising deficits in its pension schemes, new research shows, limiting cash available for dividends, stock buybacks and capital investment. British companies could beReuters - 381 words
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Article, Illustration1188 2012-05-16 33 WELLIAN WIRANTO - The eurozone’s leadership deficit will continue to weigh upon global markets in the near term, saysWELLIAN WELLIAN WIRANTO The writer is Asia investment strategist at Barclays Wealth EUROPE is on the radar of investors yet again. In particular, the recent election results in both FranceREUTERS - 1,188 words
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Article, Illustration702 2012-05-16 34 GENEVIEVE CUA - Those in Asia-Pacific are more bullish on emerging market equity, environment By GENEVIEVE CUA [SINGAPORE] Investors globally are more risk averse and more likely to invest in their home markets, a recent survey by Franklin Templeton has found. In the Asia-Pacific region, the proportionSource: Franklin Templeton Investments - 702 words
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369 2012-05-16 34 NYT [NEW YORK] The pattern has been repeated so many times that it might be comforting if it weren’t so disturbing. During a relatively calm stretch early in the year, the stock market rallied. But then the financial and political problems ofNYT - 369 words
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Article, Illustration624 2012-05-16 35 GENEVIEVE CUA - Asset management arm of German insurer beefs up Singapore office By GENEVIEVE CUA [SINGAPORE] Fixed income and yield are the big themes in Asia, says Allianz Global Investors (AllianzGI) chief executive Elizabeth Corley. They are also the areas of investment focus in AllianzGI’sREUTERS - 624 words
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395 2012-05-16 35 NYT [LONDON] Companies should help reduce income inequality and focus more on long-term goals, a new group of supporters of capitalism said on Monday. In its first paper, the group, called the Henry Jackson Initiative for Inclusive Capitalism, suggests that companiesNYT - 395 words
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Advertisement109 2012-05-16 32 MAPLETREE CONGRATULATES Kulicke Soffa. ON THE GROUNDBREAKING OF YOUR NEW HEADQUARTERS! About Build-to-Suit Mapletree Industrial Trust provides Build-to-Suit solutions to companies who prefer customised high specification industrial facilities. Build-to-Suit solutions allow companies to focus on their core businesses while we take care of the capital expenditure and development process. About109 words
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Page 32 Miscellaneous
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Miscellaneous20 2012-05-16 32 TODAY'S BEST MUSIC THE MOST FUN IN THE MORNINGS Sa N.. JILLIAN LIM THE MARRIED MEN WEEKDAYS 6AM TO 1DAM20 words
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Advertisement9 2012-05-16 33 www.omy.sg m m- A io.30amS Smmm vwww.omysg t wfl9 words
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Advertisement106 2012-05-16 33 5* m *22 '4iy Tomorrow needs commitment SC m -'V, ;=7;'V' v >'■•' r* fetell fe; 98 ilia »'.;>■ SK flsssi ass m s£i«*. mi Our continuous commitment in Asia In addition to providing global investment solutions, our Asia platform has developed local expertise and renminbi capabilities. Our commitment has106 words
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Advertisement324 2012-05-16 34 INTO GFT DealBook Jt FOREX AND CFDs. Now on DealBook for iPad. Now you can trade the world’s markets on your iPad with GFT’s latest software innovation: DealBook® for iPad. Available on the J App Store With its flexible, intuitive interface and powerful trading features, DealBook® for iPad is a324 words
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Advertisement20 2012-05-16 34 LIANHE ZAOBAO Author of Bank 2.0: Your mobile phone will become your"wallet" To subscribe, call 6388-3838 or go to sphsubscription.com.sg20 words
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Advertisement336 2012-05-16 35 Plug into the latest market news and trade on the move with the SaxoTrader App. To make the right call, you need access to vital information, even when you're on the go. Get markets updates, prices and charts instantaneously on the award-winning SaxoTrader. Now available on your iPhone® or Android™336 words
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executive Money
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Article, Illustration946 2012-05-16 36 VIKTOR HJORT - Credit conditions are improving on the margin, making China high-yield credit an attractive fixed income investment, says VIKTOR HJORT VIKTOR HJORT The writer is head of Asia Fixed Income Research, Morgan Stanley Many people have recently come to fear the use of the words “China” andAFP - 946 words
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Advertisement539 2012-05-16 36 Earn potentially higher returns through short-term dual currency investments N r I am seeking higher returns on my money We are offering you an opportunity with dual currency investments If you are seeking opportunities in currency markets, consider Currency Linked Investments (CLI). These are dual currency investments that involve a539 words
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Who’s Who in Law
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Article, Illustration1646 2012-05-16 1 GRACE LEONG - Whether it’s through organic expansion, forming alliances with a foreign law firm, or staying independent, local law firms need to figure out a model that best enables them to tap the opportunities afforded by the liberalisation of the legal industry. By GRACE LEONG By1,646 words
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Article, Illustration1141 2012-05-16 2 HRI KUMAR NAIR SC - Singapore’s position as a leading international arbitration hub and the liberalisation of the legal industry signal the start of an exciting and challenging era which should be welcomed By HRI KUMAR NAIR SC Hri Kumar Nair SC is Director, Drew Napier LLC TWO things areFILE PHOTO - 1,141 words
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1005 2012-05-16 2 SURESH NAIR - By SURESH NAIR Suresh Nair is Director, Straits Law Practice LLC IN A speech reported in The Straits Times on March 18, 1981, the then Prime Minister Lee Kuan Yew spoke of a paucity of local legal talent, saying that those who1,005 words
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1199 2012-05-16 2 LEE SUET FERN - By LEE SUET FERN Lee Suet Fern is Chairman and Managing Partner of Stamford Law THE last five years have seen rapid change for Singapore law firms. The next five promise acceleration of change. The year 2008 saw the opening of Singapore’s domestic1,199 words
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Article, Illustration1421 2012-05-16 3 STEFANIE YUEN THIO - A look at some of the practical problems they face when carrying out their appointments By STEFANIE YUEN THIO Stefanie Yuen Thio is Joint Managing Director of TSMP Law Corp THESE days, the position of an independent director in a listed company isSTOCK.XCHNG - 1,421 words
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Article, Illustration1143 2012-05-16 3 K ANPARASAN - By K ANPARASAN K Anparasan is Partner, Litigation Dispute Resolution Department of KhattarWong LLP THE NEW amendments to the Consumer Protection (Fair Trading) Act (CPFTA) and Hire Purchase Act (HPA) more colloquially known as the Lemon Laws have sparked off aSTOCK.XCHNG - 1,143 words
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1226 2012-05-16 3 FRANCIS GOH - By FRANCIS GOH Francis Goh is Partner and Head of Arbitration and Coordinator of the Pro Bono Programme at Harry Elias Partnership LLP THE term “pro bono” derives from the Latin, pro bono publico, “for the public good”. But beyond its1,226 words
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1038 2012-05-16 4 LIM MEI, LEE KEE YENG, LYNN HO - The outlook for M&A activity in South-east Asia remains fairly optimistic despite global economic uncertainties By and LIM MEI, LEE KEE YENG LYNN HO Lim Mei is Co-Head of Mergers Acquisitions, Lee Kee Yeng and Lynn Ho are Partners with Allen Gledhill LLP DESPITE1,038 words
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Article, Illustration1225 2012-05-16 4 CHESTER TOH, LARRY LIM - By CHESTER TOH, LARRY LIM Chester Toh is Partner and Co-Head, Integrated Regulatory Practice, and Larry Lim is Equity Partner of Rajah Tann LLP INDIVIDUALS have long had to entertain unwanted marketing messages through their personal communication devices with little room forFILE PHOTO - 1,225 words
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1226 2012-05-16 4 DOROTHY MARIE NG, MONICA YIP - By DOROTHY MARIE NG, MONICA YIP Dorothy Marie Ng is Partner and Head of Corporate Real Estate Practice, and Monica Yip is Partner, Corporate Real Estate Practice, WongPartnership LLP “LAND BANKING” can, very broadly, be said to be the practice or1,226 words
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Article, Illustration434 2012-05-16 6 Philip Fong - Philip Fong Managing Partner THE FIRM Established in 1988 by Mr. Harry Elias, Senior Counsel, our Firm is conjoined with the evolving legal landscape of Singapore. For the past 24 years, we have been on the cutting edge of legal changes. We are privileged to be434 words
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Advertisement112 2012-05-16 1 Contents An era of new opportunities PAGE 2 Staying competitive in a time of transition PAGE 2 A growing pool of first class litigation counsel PAGE 2 Perils of being an independent director PAGE 3 Are consumers’ rights really protected by Lemon Laws? PAGE 3 Fostering a pro bono mindset112 words
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Advertisement96 2012-05-16 5 PL QC 3 _l DC o > LU < LU QC O CL < CD O CO 0 CD O c 0 ~o H—c o o CD c 0 > 0 0 o H—0 -I—' c 0 O o c 0 H— 1 0 K i IE Bl CO CO96 words
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Advertisement112 2012-05-16 6 A Practice of Firsts harry Elias PARTNERSHIP To us, being the best to our clients is more important than being the largest law firm. I m.U m n HR 9 m wm m x We may not be the largest. But what matters is what we work hard to be112 words
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Advertisement196 2012-05-16 7 RAJAH TANN Lawyers who know Asia On top in Asia Having rocketed up in the latest survey by Thomson Reuters’s Asian Legal Business, Rajah Tann is now officially the largest law firm in Singapore and South East Asia. Naturally, we’re pleased to be No 1 in our own backyard. But,196 words
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Advertisement23 2012-05-16 8 RODYK DAVIDSON LLP RODYK SINGAPORE SHANGHAI www.rodyk.com n *'STRATEGIC representation enduring relations Hi wr wb/awi +65 6225 2626 Fax:+65 6225 1838 Email: mail@rodyk.com23 words
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Advertisement217 2012-05-16 9 ShookLin&Bok Asian Presence. Global Reach. We offer a partnership to share your vision and help your business succeed. We are a LEADER, not just because we have eminent lawyers across our practice areas; but more importantly, we share our clients' vision and partner with them in meeting their business goals217 words
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Advertisement60 2012-05-16 10 jC\o^ V\V« vV e WO- C V> \\0^ fc. 9 \t&* O'' e^ e AV° NX® 1 fc. W» &W* s k \V* vie®'' <£\h gw e o tv®' btf \jsv s e®! e M \0 ®A W8® o vie®' e o \V e «w #4 O' \Ov tv®' «v°60 words
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Advertisement517 2012-05-16 11 6 BATTERY ROAD, LEVEL 41 SINGAPORE *****9 TEL: (65) 6534 4877 FAX: (65) 6534 4822 EMAIL: TSMP@TSMP.COM.SG TSMP LAW CORPORATION aw II r 2012 asialaw PROFILES 2012 RKCOMMENDED FIRM I HO WE ARE TSMP LAW CORPORATION is a medium-size full service law practice that punches above its weight in terms517 words
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Advertisement98 2012-05-16 12 Challenging conventional norms. Doing right by our clients. Employing the best to be the best. Building relationships. WongPartnership’s leading position is built on a strong foundation of these core values, a position that remains steadfast in times of adversity and economic uncertainty. Thank you for making our first two decades98 words
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