The Business Times, 19 May 2012

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Microfilm: NL32011
Total Pages: 50
1 20 The Business Times
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  • TOP STORIES
    • Article, Illustration
      Lock icon Markets slide across Asia, Europe
      735 2  -  Fears of unravelling eurozone grow as agencies cut ratings on sovereign debt, banks By Conrad Tan conradt@sph.com.sg Singapore STOCKS in Asia and Europe were savaged yesterday as fears grew that the eurozone is unravelling. Credit rating agency Moody’s cut the ratings of 16 Spanish banks
      AFP  -  735 words
    • MARKETS
      • Article
        Lock icon STOCKS
        58 2 HSTI 2,779.10 (-43.51) HSTI FUTURES 2,779.00 (-44.00) HSIMSCI 317.15 (-5.68) HSIMSCI FUTURES 315.50 (-7.00) STOCKS Friday Change KL COMP 1,532.46 -11.75 NIKKEI 225 8,611.31 -265.28 HANG SENG 18,951.85 -249.08 SET 1,154.44 -19.12 JAKARTA Closed MANILA 4,879.42 -137.60 KOSPI 1,782.46 -62.78 SHENZHEN B 631.12 -13.53 MUMBAI IND 16,152.75 +82.27 12noon
        58 words
      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.598 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.50 INDIA 14.75 Source: Bloomberg
        29 words
      • Article
        Lock icon FOREX
        48 2 us$ s$ US$ (S$ per US$) 1.274 (US$/S$ per 1.578 2.011 EURO(US$/S$/E) 1.268 1.615 Foreign currency per US$ S$ YEN 79.30 62.20 RM 3.136 2.461 HK$ 7.768 6.096 BAHT 31.40 24.64 RUPIAH 9,242 7,253 RENMINBI 6.330 4.967 INDIAN RUPEE 54.75 42.96 A$ 1.017 0.798 NZ$ 1.322 1.038
        48 words
    • Article, Illustration
      Lock icon Facebook shares fall after climbing 18% on debut
      804 3 They hit high of US$45 before easing; IPO priced at US$38 a share Reuters Bloomberg New York FACEBOOK Inc shares fizzled on their first day of trade on the Nasdaq, erasing early gains of as much as 18 per cent to trade
      Reuters; Bloomberg  -  804 words
    • Article
      Lock icon Views sought for new accountancy course
      797 4  -  The Singapore-branded post-graduate qualification ties practical training with academic modules By Lynette Khoo lynkhoo@sph.com.sg Singapore THE proposed framework for a new post-graduate accountancy programme will be “nothing short of transformational”. The Pro-Tem Singapore Accountancy Council (SAC) said this of the Singapore Qualification Programme (SQP)
      797 words
    • Article, Illustration
      Lock icon Support candidate in blue, says ex-MP Yaw
      769 4  -  By Lee U-Wen leeuwen@sph.com.sg Singapore DISGRACED former Hougang member of parliament Yaw Shin Leong has finally broken his silence, more than three months after he was sacked from the opposition Workers’ Party (WP) for failing to address allegations of ex-tra-marital affairs. In a
      FILE PHOTO  -  769 words
    • Article, Illustration
      Lock icon Currency turmoil clouding G-8 summit
      653 6  -  Japan may seek G-8 partners’ nod for intervention as yen soars By Anthony Rowley bt wo rl d @s p h .co m .sg Tokyo JAPANESE Prime Minister Yoshihiko Noda flew to the US yesterday for the Group of Eight (G-8) summit amid spreading financial
      653 words
    • Article, Illustration
      Lock icon Santander, BBVA in Moody’s downgrade of 16 Spanish banks
      637 6 Bloomberg Madrid BANCO Santander SA and Banco Bilbao Vizcaya Argentaria SA (BBVA), Spain’s biggest lenders, were cut three levels by Moody’s Investors Service, which cited a recession and mounting loan losses in downgrading 16 of the nation’s banks. Nine firms were
      Bloomberg; BLOOMBERG  -  637 words
    • Article, Illustration
      Lock icon A pixelated pickle
      600 7  -  SATURDAY SOAPBOX Joyce Hooi joyceh@sph.com.sg Correspondent THERE was a time in 2010 when mio TV and StarHub would air the same matches and in my building, you could always tell who was subscribing to which provider. When a goal was scored, the StarHub viewers would roar. Several
      600 words
    • Article, Illustration
      Lock icon I hope England can win Euro 2012: Carlsberg GM
      646 7  -  By Lee U-Wen leeuwen@sph.com.sg Singapore WHENEVER Liverpool loses a match which turned out to be quite often during the Barclays Premier League (BPL) season that just ended Bart Lim usually ends up having an extra beer or two to drown his
      646 words
    • Article, Illustration
      Lock icon Sports park coming up at Turf City site
      1092 8  -  Company behind the $4m project aims to provide state-of-the-art facilities for recreational sportsmen By Malminderjit Singh msingh@sph.com.sg Singapore THE premises of the former Turf Club in Bukit Timah will get a makeover when a $4 million sports park gallops in to add
      1,092 words
  • Page 2 Advertisements
    • Advertisement
      Lock icon Page 2 Advertisements Column 1
      58 2 CONTENTS NEWS Top Stories 2-8 Week in Review 9 LIVING Travel L2-4 Weekend With L5 Dining L6-8 Style L9-10 Raffles Conversation 10-11 Companies 12-15 From The Desk Of 16 Singapore 17-18 World 19-21 Shopping L11-13 Gadgets L14 Health L15 Sports L16 Golf L17 Motoring L18-19 Arts Festival 22 Stocks Stats
      58 words
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  • Page 5 Advertisements
    • Advertisement
      Lock icon Page 5 Advertisements Column 1
      279 5 THE STRAITS TIMES New Look, I tomeetyour fT changing needs [y^VA New-look skybox -k New COOtl ipOH looking masthead Packing more punch trrsGboo brother; lead way WHATStl THE STRAITS TIMES HDB ends main upgrading Six-column grid Tighter editing, no turns 0 1 iMih.iv IK jn chadwn rxc *a Everything you
      279 words
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK May 14-18, 2012
      • Article
        Lock icon Oil prices present wild card for economy
        52 9 THE supply and demand outlook for oil suggests limited risk to economic growth and inflation in Singapore, although highly unpredictable geopolitical risks still threaten to throw forecasts off, economists said. Crude oil prices have been coming off over the past week, but remain
        52 words
      • Article
        Lock icon S’pore firms being dragged to expensive arbitration seats
        54 9 ALTHOUGH Singapore has established itself as one of the world’s leading international commercial arbitration hubs, many local firms still find themselves being dragged to more expensive arbitration seats because they overlook a small but critical clause in their initial contracts specifying where
        54 words
      • Article
        Lock icon Private equity funds are caught in a bind
        40 9 PRIVATE equity funds are in a Catch-22 situation. While competition with corporates is driving up transaction prices for deals, the PE funds are also under pressure to use up their dry gunpowder.
        40 words
      • Article
        Lock icon After loss, heads start rolling at JP Morgan
        51 9 AFTER suffering more than US$2.3 billion in trading losses, the JP Morgan Chase trader known as “London Whale” has claimed a high-pro-file victim, perhaps the first of many. Ina Drew, chief investment officer, has resigned after more than 30 years at the
        51 words
      • Article, Illustration
        Lock icon Fears of contagion as Greek crisis deepens
        91 9 AS Greece headed for fresh elections and a possible exit from the eurozone, European leaders were preparing protect to other vulnerable nations from contagion. They are expected to agree on the instant use of a firewall to save Spain, Italy and Portugal from
        BLOOMBERG FILE PHOTO  -  91 words
      • Article
        Lock icon Just when outlook gets sunny, there’s a shower of bad news
        55 9 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 and may now be dampened further by fresh jitters over the eurozone’s
        55 words
      • Article
        Lock icon ‘Grexit’ in the air, fear on the ground here
        55 9 FROM boardrooms to treasuries and trading desks, a break-up of the eurozone is now looking like a distinct possibility. Singapore is certain to feel the impact of a Greek exit (“Grexit”) from the eurozone now seen by economists as something that
        55 words
      • Article
        Lock icon Local punters geared up for Facebook run-up
        43 9 LOCAL punters might have missed out on the Facebook initial public offering (IPO) boat, but that will not stop them from jumping aboard the Facebook dinghy after the social network site’s stock starts trading on Nasdaq.
        43 words
      • Article
        Lock icon Trade Ministry keeps to forecast of 1-3% growth
        47 9 THE risks of slower growth have intensified with another flare-up of the eurozone debt crisis, the Ministry of Trade and Industry said, as it stuck to its forecast that Singapore would grow one to 3 per cent this year.
        47 words
      • Article
        Lock icon New qualification to alter accountancy DNA
        52 9 THE chief executive of the Pro-Tem Singapore Accountancy Council (SAC) says that he is ready to change the very DNA of the sector. The key to this is a globally recognised professional accountancy qualification, whose details will be made known soon in a public
        52 words
      • Article
        Lock icon No basis to write off SIA, says CEO
        64 9 ANY pessimism about Singapore Airlines’ future is grossly exaggerated if not misplaced, declares the pilot of the national carrier. “There is no basis to write off SIA,” Goh Choon Phong tells BT. “We are not standing still. We accept that there are
        64 words
    • Article
      Lock icon NEXT WEEK May 21-25 2012
      77 9 US DATA May 22 April existing home sales May 23 April new home sales May 24 April durable goods orders May jobless claims May 25 May consumer sentiment SINGAPORE DATA May 23 March consumer price index EVENTS May 21 Gyeongju, South Korea The second APEC
      77 words
  • Page 9 Miscellaneous
    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 1
      375 9 Across 1 Big tree outside university (7) 5 Selects chess moves, pressing centre of clock twice (7) 9 A grid fabricated by a male it’s designed to explain something (7) 10 Took no notice of tailor ordering no end of fur (7) 11 Hearing what a ship might be doing
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    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 2
      10 9 SATURDAY with Ludwig ‘Hey, George Soros wants to ‘friend’ me
      10 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon A sustainable plan Unilever CEO Paul Polman
      2145 10/11  -  CEO Paul Polman shares the consumer giant’s vision for the future of the company and the world. By Chuang Peck Ming peckming@sph.com.sg WHERE is everyone? That’s what we asked ourselves when we stepped into Unilever’s Singapore office on Pasir Panjang Road late in
      ARTHUR LEE  -  2,145 words
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  • COMPANIES
    • Article, Illustration
      Lock icon Whafs happened to Dodd-Frank regulation?
      737 12  - Whafs happened to Dodd-Frank regulation COMMENTARY R Sivanithy sivan@sph.com.sg Senior correspondent IF NOT For Greece’s political and economic problems which have gripped financial markets and captured most of the headlines, JP Morgan’s shocking US$2 billion trading loss would surely have garnered more attention than it has. If so, then maybe
      737 words
    • Article, Illustration
      Lock icon Tiger licks FY12 wounds, hopes to soar again
      665 12  -  By Kenneth Lim kenlim@sph.com.sg Singapore TIGER Airways crashed into a loss for the year ended March 31 as it struggled with crosswinds from an Australian suspension and high fuel costs. But now the low-cost carrier wants to pick up the pieces and
      BLOOMBERG  -  665 words
    • Article, Illustration
      Lock icon Greece’s woes, poor earnings take heavy toll
      968 13  -  STOCKS R Sivanithy sivan@sph.com.sg Senior correspondent THE Straits Times Index (STI) lost 104 points or 3.6 per cent this week to end at 2,779.10 yesterday not only because European contagion fears intensified following the recent election results in Greece but also because of
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    • Article, Illustration
      Lock icon Cross-border acquisition deal volumes fall to 2006 levels
      556 13  -  By Jamie Lee leejamie@sph.com.sg Singapore CORPORATES have lost some appetite for cross-border acquisitions, with deal volumes at or close to 2006 levels, a KPMG report yesterday showed. This applies to acquisition deal flows into both emerging and developed markets. Acquisitions of companies
      AFP  -  556 words
    • Article
      Lock icon Rig maker Lamprell raises concern over component shortage
      330 14  -  But S’pore rigbuilders and operators say they don’t face this problem By Lynn Kan lynnkan@sph.com.sg Singapore RIG equipment shortage has become a concern after Londonlisted jack-up rig maker Lamprell warned about a first-quarter loss after it ran into delays getting rig components.
      330 words
    • Article
      Lock icon Hutchison Whampoa goes to court to keep Eircom bid alive
      348 14 Reuters Dublin LAWYERS for Hutchison Whampoa Ltd made a last ditch attempt to salvage the Hong Kong company’s bid for Eircom, the struggling Irish telecoms firm that is to be handed over to its lenders. The firm’s lawyers asked a
      Reuters  -  348 words
    • Article
      Lock icon LionGold in loan deal as part of bid to acquire Vista Gold
      321 14  -  By Jasmine Ng jasng@sph.com.sg Singapore SINGAPORE-LISTED LionGold Corp has entered into a US$750,000 loan agreement with Republic Gold, which could see it gaining a full stake in the Austral-ia-listed explorer’s wholly owned subsidiary Vista Gold. LionGold said the
      321 words
    • Article
      Lock icon SP AusNet raises A$342m in offer
      412 15  -  Strong demand from institutions; retail tranche to raise another A$92m By Glenn Choo gchoo@sph.com.sg Singapore SP AusNet, a member of Singapore Power Group, raised about A$342 million (S$432 million) from the institutional component of its 3-for-20 accelerated non-renounce-able pro-rata entitlement offer of its stapled
      412 words
    • Business briefing
      • Article
        Lock icon Tung Lok: Impairment losses to hit FY2012
        54 15 TUNG LOK Restaurants (2000) Ltd said in a profit guidance that its financial results for the year ended March 31, 2012 (FY2012) is expected to be affected by impairment losses on non-per-forming outlets and the closures of a few key outlets which have
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      • Article
        Lock icon Koon unit secures $12.5m contract
        68 15 KOON Holdings’ wholly owned subsidiary, Koon Construction Transport Co Pte Ltd, has secured a contract worth about $12.5 million. The project involves the supply and installation of shore protection works for the T-Bund construction at Jurong Island. The contract, whose duration is about seven months,
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      • Article
        Lock icon Noble increases loan to US$2.364b
        35 15 Bloomberg Hong KongNOBLE Group Ltd is increasing a loan to the equivalent of US$2.364 billion from an original target of US$1.5 billion, according to two people familiar with the matter.
        Bloomberg  -  35 words
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  • Page 15 Advertisements
    • Advertisement
      Lock icon Page 15 Advertisements Column 1
      429 15 CUTTING-EDGE STRATEGIES FOR WORKPLACE SUCCESS FULL-DAY WORKSHOPS Who should attend: Sales Managers, Account Managers/ Executives, Social Media Specialists, PMEBs, Directors, Team Leaders and other General Management Professionals 11 May, 2012 (Fri) Register at www.stjobs.sg/seminars Workshop A: 21st Century Sales Leadership Skills SPH News Centre (9.00 am to 5.30 pm) What
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Augmenting life universally
      1222 16  -  The impact of silicon technology is so far-reaching, there is not an aspect of life that it has not enhanced. Yet most people think semiconductors just make their computers run faster. FROM THE DESK OF Francois Guibert Executive VP and President Greater China South Asia Region STMicroelectronics
      1,222 words
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  • SINGAPORE
    • Article
      Lock icon BASF beefing up S’pore antioxidant plant
      482 17  -  Latest investment to optimise production footprint of its antioxidant business in Asia By Ronnie Lim ronnie@sph.com.sg IN what amounts to a shift of part of its Japanese antioxidant production to Singapore, Germany’s BASF is beefing up its existing Singapore antioxidant plant on Jurong Island
      482 words
    • Article
      Lock icon REC cuts S’pore staff amid Norway plants’ shutdown
      496 17  -  14% reduction here in 2011 part of solar cell maker’s overall cuts By Ronnie Lim ronnie@sph.com.sg SINGAPORE was not spared the bleeding in the global solar cell business, with Norwegian solar cell maker Renewable Energy Corporation (REC) cutting staff numbers at its
      496 words
    • Article
      Lock icon ViSi Mobile makes monitoring patients easier for hospitals
      443 17  -  Wireless wrist-worn device tracks vital signs, measures ECG By Eve Yeo eveypyeo@sph.com.sg A NEW wireless, wrist-worn medical device for patients will soon allow hospitals to do away with bulky monitoring equipment. The ViSi Mobile System, which will continuously monitor a patient’s vital
      443 words
    • Article, Illustration
      Lock icon Growing coral, grooming sailors
      894 18  -  Marina at Keppel Bay has won the Green Mark Gold Award from the BCA, and the Club of the Year Award from the SSF By Timothy Loh timloh@sph.com.sg THERE’S more than meets the eye at Marina at Keppel Bay (MKB). From above ground, MKB looks like
      894 words
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  • WORLD
    • Article, Illustration
      Lock icon G-8 meets as Schaeuble sees up to two more years of turmoil
      571 19 He calls for the Europeans to form a common position as quickly as possible Bloomberg AFP Berlin GERMAN Finance Minister Wolfgang Schaeuble said that turmoil in the financial markets caused by Europe’s debt crisis may last another two
      Bloomberg; AFP; PHOTO: BLOOMBERG  -  571 words
    • Article
      Lock icon EU drawing up Grexit contingency plans
      419 19 Germany says it is prepared for all eventualities Reuters Brussels EUROPEAN officials are working on contingency plans in case Greece bombs out of the eurozone, the European Union’s (EU) Trade Commissioner said yesterday, while Berlin said it was prepared for all eventualities. European shares
      Reuters  -  419 words
    • Article
      Lock icon Irish banks may tip country into second bailout
      342 19 Bloomberg Dublin IRELAND may be forced into a second bailout by mounting loan losses in its banking system, according to Deutsche Bank AG. Ireland’s bailed-out banks may need capital to cover as much as four billion euros (S$6.47 billion) more bad-loan provisions
      Bloomberg  -  342 words
    • Article, Illustration
      Lock icon Myanmar to let in foreign banks earlier
      499 20 Asean banks can open branches in 2014, others can form joint ventures Reuters Naypyitaw, Myanmar FOREIGN banks will be able to form joint ventures in Myanmar by 2014, a year earlier than expected as foreign investors begin to size up one of Asia’s
      Reuters; REUTERS  -  499 words
    • Article
      Lock icon Think tank warns of high levels of debt in Chinese companies
      445 20 EJ Insight Hong Kong THE Chinese Academy of Social Sciences, a government think tank, warned on Thursday that Chinese companies have accumulated “alarming levels” of debt and will have difficulty with payments in an economic downturn, the official Xinhua
      EJ Insight  -  445 words
    • Briefing
      • Article
        Lock icon Voting rights for overseas Malaysians likely soon
        69 20 AP Kuala Lumpur The Election Commission said it hopes to secure voting rights for one million Malaysians living overseas and invite international observers for general election expected this year. Deputy chairman Wan Ahmad Wan Omar told the foreign media on Thursday the commission
        AP  -  69 words
      • Article
        Lock icon JPMorgan CEO to testify before US Congress
        72 20 Reuters Washington JPMorgan Chase Co CEO Jamie Dimon has agreed to testify before Congress over the bank’s recent trading losses, which have ignited a political debate over whether large US banks need to be reined in by regulators or new laws. Senate Banking
        Reuters  -  72 words
      • Article
        Lock icon Murdoch ‘forced papers into a Faustian bargain’
        73 20 Reuters London Rupert Murdoch sowed the seeds of the phone hacking scandal that has tarnished his reputation by forcing Britain’s most respected newspapers into “a Faustian bargain” with the powerful, Harry Evans, former editor of The Times, said. He told a British media
        Reuters  -  73 words
      • Article
        Lock icon Saverin to pay hundreds of millions in taxes to US govt
        45 20 Bloomberg New York Singapore-based Facebook co-founder Eduardo Saverin, who became a billionaire through the social networking site’s IPO, said he will pay “hundreds of millions of dollars” in taxes to the US government. Bloomberg
        Bloomberg  -  45 words
    • Article, Illustration
      Lock icon China says US tariffs on solar panels unfair
      582 21 New tariffs of 30 per cent are much bigger than the Chinese firms have expected Reuters Houston THE United States has imposed punitive tariffs on solar panel imports from China, the latest in a series of trade disputes between the world’s two
      Reuters; REUTERS  -  582 words
    • Article
      Lock icon RBI will intervene to protect rupee, says deputy governor
      340 21 Reuters Kolkata INDIA’S central bank will continue to use a mix of intervention and administrative steps to protect the rupee, a deputy governor said, adding that the Reserve Bank of India (RBI) has adequate reserves to meet its obligations. “The approach
      Reuters  -  340 words
    • Article
      Lock icon Anticipation of solar eclipse rises in Japan
      335 21 Team prepares to broadcast event from Mount Fuji AFP Tokyo SPECIAL darkened glasses were selling out in Japan yesterday as anticipation built ahead of a “ring” solar eclipse above one of the most densely populated parts of the planet on Monday. A swathe
      AFP  -  335 words
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  • SINGAPORE ARTS FESTIVAL
    • Article, Illustration
      Lock icon Jade Bird struggles to take off
      668 22  -  Mark Chan’s Arts Festival opener is a mixed bag that needs more focus, says Christopher Lim Christopher Lim ~limchris@sph.com.sg THERE’Sheart-wrenchinglysolid sto-ry-telling at the core o f M a r k Chan’s operetta, he Flight of the Jade Bird. And when the music is given
      668 words
    • Article, Illustration
      Lock icon Never too old to rock and roll
      585 22  -  By Dylan Tan ~dylantan@sph.com.sg THE press often take digs at the members of The Rolling Stones for still touring at their age but Mick Jagger and Keith Richards are babies when compared to the senior citizens who make up choral group Young@Heart. Ranging
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  • Article
    Lock icon SGX
    8087 23 Transaction date: May 18 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 13.5 unch 319 13.8 13.4 13.5 13.8 66.8 0.4 3.2 64.7 9.5 4 A-Sonic 4.3 -0.1 165 4.3 4.3
    8,087 words
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  • Article
    Lock icon SGX CATALIST
    1714 26 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 34 12.1 t 800 Super 17.2 +0.4 1 17.2 17.2 14.8 17.2 4.7 3.2 6.7 30.8 4 2.5 t AA Grp 3.6 +0.3 5 3.6
    1,714 words
  • Article
    Lock icon SECURITIES TRADING SCOREBOARD
    186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 1 12 4 0 0 0 1 12 4 Manufacturing 20 96 26 4 12 6 24 108 32 Commerce 13 35 12 2 5 1 15 40 13 Tpt/Stor/Comms 8 26 8
    186 words
  • Article
    Lock icon BT SHARE INFORMATION SERVICE
    804 26 For week beginning May 14 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) BRC Asia Ltd 16-May-12 Sia Ling Sing *Buy 580 na *****9 26.80 *****9 26.87 Popular Hldgs Ltd 16-May-12 Chou Cheng
    804 words
  • Article
    Lock icon SECURITIES TRADING TURNOVER
    121 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 19,071 19,071 86,603 86,603 Manufacturing 248,961 142,826 391,787 201,948 4,821 206,769 Commerce 267,314 13,861 281,175 180,194 851 181,045 Tpt/Stor/Comms 141,398 14,822 156,220 210,428 4,148 214,576 Finance 31,001 150 31,151 272,972 32 273,004 Construction 121,633 2,069
    121 words
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  • MARKETS
    • Article
      Lock icon LIFFE
      80 27 May 17 COCOA (£/tonne) Close Prev High/Low Jul 12 1528 1509 1550/1525 Sep 12 1513 1502 1531/1508 Dec 12 1499 1490 1517/1494 Mar 13 1481 1490 1499/1477 COFFEE(US$/tonne) Close Prev High/Low May 12 2163 2127 2189/2145 Jul 12 2187 2167 2220/2172 Sep 12 2159 2165 2194/2145 Nov 12 2147
      80 words
    • Article
      Lock icon METALS
      69 27 May 18 GOLD(US$/oz) May 17 May 18 Hong Kong 1558.00 1596.00 Hong Kong May 16 May 17 London 1540.66 1573.80 1541.43 1574.68 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 36.07 35.40 Source: UOB PLATINUM/ Lon (US$/oz) May 17 Close Previous PM Fix 1449.00 1427.00 AM Fix 1446.00
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    • Article
      Lock icon PALM OIL
      57 27 May 18 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 12 3090.0 3111.0 3110.0 3044.0 1355 7684 Jul 12 3071.0 3105.0 3111.0 3041.0 6588 ***** Aug 12 3072.0 3095.0 3110.0 3034.0 ***** ***** Aug 12 3069.0 3090.0
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    • Article
      Lock icon GOVERNMENT SECURITIES
      86 27 May 18 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****V 16-Aug-12 0.28 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-14 100.06 100.11 100.09 5-Year N*****0Z 2.375 01-Apr-17 108.89 108.92 108.92
      86 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 27 May 18 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2531 1.2535 0.9835 0.9836 Canadian dollar 1.2489 1.2499 0.9802 0.9808 Euro 1.6150 1.6157 1.2676 1.2678 NZ dollar 0.9631 0.9646 0.7559 0.7569 Sterling pound 2.0103 2.0114 1.5778 1.5783
      154 words
    • Article, Illustration
      Lock icon SMX MARKET UPDATE
      129 27 As on 17 May 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT JUN2012 1554.40 1548.30 1575.00 30 CURRENCY AUD-USD FUT JUN2012 .9933 .9888 .9910 1492 EUR-USD FUT JUN2012 1.2742 1.2669 1.2719 2156 BASE METAL COPPER FUT JUL2012 7760 7646 7674 2307
      129 words
    • Article
      Lock icon CHICAGO BOT
      103 27 May 17 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jul 12 1438.00 1422.00 1450.00 1420.25 Aug 12 1405.25 1395.25 1418.75 1393.25 Sep 12 1347.50 1342.25 1359.50 1340.75 Nov 12 1306.50 1302.25 1318.00 1299.75 SOYBEAN/OIL(60,000 lbs; USc/lb) Close Previous High/Low Jul 12 50.72 50.43 50.99 50.41
      103 words
    • Article
      Lock icon OIL
      74 27 May 17 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 108.70 -2.13 WTI (Near Mth) 92.46 -0.42 Dubai (1-Mth F) 106.64 -0.51 Tapis blend 117.34 -0.52 Minas 117.14 -0.52 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 98.11 unch Jet Kerosene 122.65 -0.75 US$/barrel OpecOil Basket Price 108.70
      74 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      114 27 May 18 As at 9am May 18 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.2688 1.2408 Can dollar 1.2624 1.2374 Euro 1.6329 1.5989 Sterling pound 2.0328 1.9928 NZ dollar 0.9794 0.9514 US dollar 1.283 1.266 Local dollars to 100 units
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      Lock icon LONDON METALS
      69 27 May 17 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2014.25 1993.50 3 months 2054.00 2035.00 Copper, Grade A (US$/tonne) Cash 7694.50 7695.00 3 months 7649.00 7650.00 Lead (US$/tonne) Cash 1913.50 1959.75 3 months 1926.50 1971.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
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      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      373 27 In local curr In S$ In US$ dy yr dy yr dy yr May 17 Index Change Change Change Change Change Change World Preliminary 844.9 -0.5 1.8 -0.6 -1.1 -0.6 1.3 EAFE Preliminary 674.8 -0.4 -1.1 -0.5 -4.7 -0.5 -2.4 Europe Preliminary 994.1 -1.0 -3.2
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      Lock icon STOCKS
      105 27 Straits Times Index YTD change: +5.02% 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:+2.81% 52-week high: 23,707.90 on May 31,2011 52-week low: 16,170.30 on Oct 4,2011 Source: Bloomberg Shanghai Stock Exchange Composite YTD change: +6.60% 52-week high: 2,884.14
      Source: Bloomberg  -  105 words
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  • PERSPECTIVE
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      Lock icon The economics of gay trends
      892 28 / 29  -  Tolerant attitudes towards gays and general cultural diversity correlate with more open attitudes towards globalisation and higher rates of economic performance Leon Hadar Washington correspondent IN HIS The Rise of the Creative Class and other groundbreaking studies about urban renewal and talent migration in the
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      Lock icon The pursuit of happiness
      792 28 / 29  -  Robert Samuelson The Wash ington Post Writers Group Washington WE ought to leave “happiness” to novelists and philosophers and rescue it from the economists and psychologists who think it can be distilled into a “science” and translated into pro-happiness policies. Fat chance. Government can often mitigate
      The Washington Post Writers Group  -  792 words
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  • Wealth
    • WEALTH INVESTING
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        Lock icon Failed hedge that wasn’t
        1376 30 / 31  -  Of the London Whale’s 3 discrete packages, one was prop trading and one was to paper over prop losses WEALTH INSIGHTS Ron Rimkus Content director, CFA Institute SINCE JPMorgan Chase announced a US$2 billion loss on derivatives on May 10, the blogosphere has been abuzz with
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        671 30 / 31  -  Compiled by Lynn Kan Olam International Hold DBS Group Research May 16 Close: $1.73 EXCLUDING biological gains, Olam reported Q3 FY11 core profit of $80 million (down 26 per cent y-o-y), representing 24 per cent of our forecast, while 9M 2012 core profit of $208.7 million made up
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        Lock icon Silicon Valley’s reticent millionaires
        1058 32 Conspicuous consumption is ridiculed here and driving to the office in a Lamborghini is considered totally uncool NYT Menlo Park, California WEALTH is here if you know where to find it. Fabulous home theatres are tucked into the basements of plain suburban houses. Bespoke jeans that
        NYT; AFP  -  1,058 words
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        Lock icon Moving with the ups and downs of stocks
        1328 33  -  If asset prices have fallen below fair values, it’s OK to buy even as prices are continuing to sink. The rebound will come SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior correspondent ~The writer is a CFA charterholder A FRIEND who
        STOCK.XCHNG  -  1,328 words
    • WEALTH REAL ESTATE
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        Lock icon Househunt
        1047 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN APRIL 18 AND APRIL 24, 2012 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED People's Park Cplx Apt 19/04/2012 99 1119 950 849 District 2 NON-LANDED Eon Shenton Apt
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        Lock icon GCB at Swettenham Rd fetches $25.8m
        872 35  -  Bungalow prices in ultra-prime locations such as Nassim, Cluny expected to ‘easily go up’ by $200-300 psf this year By Kalpana Rashiwala kalpana@sph.com.sg Singapore A GOOD Class Bungalow (GCB) at Swettenham Road was recently sold for about $25.8 million or $1,714 per square foot
        872 words
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      132 36 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. r I' THE WATCH THAT BROKE ALL THE RULES, REBORN FOR 2012. IN 1972, THE ORIGINAL ROYAL OAK SHOCKED THE WATCHMAKING WORLD AS THE FIRST HAUTE HOROLOGY SPORTS WATCH TO TREAT STEEL AS A PRECIOUS METAL, TODAY THE NEW ROYAL OAK
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      51 1 WEEKEND WITH Mark ChanL5 LivingBTTHE BUSINESS TIMES WEEKEND MAY 19-20 2012 LAND OF FIRE Azerbaijan a new country with an ancient history L2-4 STYLE Ninjas storm Paris L10 GADGETS Case in point L14 SHOPPING Indie wave L11-13 DINING A yen for mien L6-8 PHOTO: JAIME EE MOTORING 5 star style
      51 words
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  • Living BT
    • TRAVEL
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        Lock icon LAND OF FIRE
        2548 2/3  -  From prehistoric civilisations and eternal fires to fake caviar and the Eurovision Song Contest, Azerbaijian is a new country with an ancient history. By Jaime Ee By Jaime Ee jaime@sph.com.sg SO what do you pack for a trip to Azerbaijan? Oh, the usual. Sunscreen. Sensible shoes. Flak
        PHOTOS BY JAIME EE  -  2,548 words
    • WEEKEND WITH
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        Lock icon Jade maketh the man
        971 5  -  WEEKEND WITH mark chan musician Composer, singer and musician Mark Chan considers himself a custodian of living treasures. By Corinne Kerk By Corinne Kerk The Flight of the Jade Bird, an operetta by Singaporean composer, singer and musician Mark Chan, opened the Singapore Arts Festival yesterday
        PHOTOS BY YEN MENG JIIN  -  971 words
    • DINING
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        Lock icon A YEN FOR MIEN
        1950 6/7  -  Ramen bars may have taken over the Singapore dining scene, but a growing number of noodle bars aim to lure diners’ tastebuds to alternative territory. By Jaime Ee, Rachel Loi, Cheah Ui-hoon rachloi@sph.com.sg uihoon@sph.com.sg Noodles Orchard Hotel, 442 Orchard Road T 6739-6565 IF you need a
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        Lock icon Something old, something new
        530 8 Yi Noodle Bar 1 Tras Link, #01-16 Orchid Hotel Z6604-9881 Open Mon to Sat 10.30am to 9pm, Sunday 9am-3pm SOMETHING familiar but in nicer, air-con-d i t i one d d i g s T h a t s w h a t t h e
        530 words
    • STYLE
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        Lock icon Click and wear
        1076 9  -  For the first time in Asia, fashionistas can bypass the stores and order right off the runways through a new online portal. By Audrey Tan and Rachel Au-Yong audi fashion festival 2012 By Audrey Tan, Rachel Au-Yong audreyt@sph.com.sg rachelay@sph.com.sg FASHIONISTAS take note. Runway fashion is just about
        PHOTOS: ESTHER PERBANDT, TIMO.WEILAND, YB J’AIME  -  1,076 words
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        Lock icon Ninjas storm Paris
        836 10  -  Iconic designer Thierry Mugler’s 1980s structured silhouettes with waspy waists are being brought back to the catwalks by a new team. By Rachel Au-Yong By Rachel Au-Yong rachelay@sph.com.sg IF the outsize shoulders and cinched waists in French label Mugler’s latest collection remind you of insects, don’t worry
        PHOTOS: THIERRY MUGLER  -  836 words
    • SHOPPING
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        Lock icon Spotlight on indies
        2966 11  -  Cult designers gain wider exposure in a series of pop-up flea markets. BT Weekend investigates By Tan Teck Heng thtan@sph.com.sg By Aaron Tan tanaaron@sph.com.sg NO one likes getting caught wearing the same thing as another person at a party or in the streets it’s the reason why
        2,966 words
    • GADGETS
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        Lock icon Case in point
        591 14  -  Nifty cases for your phones and tablets not only look good but are also functional. By Christopher Lim By Christopher Lim limchris@sph.com.sg LifeProof case for iPhone, 4/4S, $129 Toughening up your iPhone 4/4S with a case usually also means adding substantial bulk and weight, but the LifeProof
        591 words
    • HEALTH
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        Lock icon A race against time
        1129 15  -  When a person suffers a massive stroke, speed is of the essence and can make a difference between death and complete recovery. 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;
        FILE PHOTO  -  1,129 words
    • SPORTS
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        Lock icon Germany set to be football powerhouse
        640 16  -  commentary Malminderjit Singh msingh@sph.com.sg Correspondent IN the world of European football, it is not often that a nation dominates both club and international scenes in the same era. With success in the previous European Championships and the World Cup, Spain however has defied this
        REUTERS  -  640 words
      • Article
        Lock icon Champions League final: a game far too close to call
        601 16  -  kick off with andrew leci IT is difficult to overemphasise the importance of tonight’s Uefa Champions League final for both Bayern Munich and Chelsea. The losers will have endured a disappointing season by their own exalted standards, while the winners
        601 words
    • GOLF
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        Lock icon Talking about slow play
        1243 17  -  There are many rules about it which amateurs may not be fully aware of. By Justine Moss By Justine Moss btnews@sph.com.sg THE recently-concluded Players’ Championship the US PGA Tour’s “fifth major” once again brought the subject of slow play to the fore. Kevin Na’s “snail-like” pre-shot
        PHOTOS: AP, REUTERS  -  1,243 words
    • MOTORING
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        Lock icon Soul sensation
        540 18  -  The engine is mated to a new six-speed automatic transmission from a four-speeder before. By Samuel Ee samuelee@sph.com.sg KIA has upgraded its Soul compact urban crossover and the result is a five-door hatchback that is not only funky but also a bit more refined. The facelifted Kia Soul
        540 words
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        Lock icon Red hot drive
        704 19  -  Giulietta certainly stands out with its looks, is quick and capable, but it lacks the oompf associated with past Alfas. By Wong Wei Kong By Wong Wei Kong weikong@sph.com.sg IN one corner stood the challenger, Alfa Romeo’s new Giulietta in red. In the other sat the brooding
        704 words
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      Lock icon 5-STAR STYLE
      553 20  -  The vehicle is getting some attention from families seeking a refreshingly different seven-seater with a relatively spacious interior. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THE affordable 2.0-litre MPV isn’t so affordable anymore because of soaring COE premiums but one which still manages to register small but steady
      553 words
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      849 8 wine&dinewith BTWeekend Triple Three Level 5, Mandarin Orchard Singapore, 333 Orchard RoadZ6831-6288 Named after the address of the hotel 333 Orchard Road, Triple Three showcases a sumptuous international buffet spread with over 128 culinary delights and 10 LIVE cooking stations. In addition to the freshest Sashimi and Sushi, Tempura and
      849 words
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      39 12 / 13 HOME NEE S Drowning in a sea of dirty laundry? Get someone to help you. To find out more, turn to CLASS 121 in CATS Classified in The Straits Times now. \/W W BUY IT* SELL IT* FIND IT
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