The Business Times, 2 June 2012
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2012-06-02
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The Business Times
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Title Section16 2012-06-02 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g| g| JUNE 2-3, 2012 S$1.00| S$1.00| MICA (P) 121/08/201116 words
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38 2012-06-02 1 DULLED SHEEN SPOT gold eases 0.3 per cent to US$1,558.25 an ounce, capping a second straight losing week as weak economic figures from China and India take the shine off the metal.| 238 words
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Article29 2012-06-02 1 LABOUR WOES AMERICAN employers in May added the fewest workers in a year and the unemployment rate unexpectedly increased as job-seekers re-entered the workforce. 329 words
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Article36 2012-06-02 1 WORD CLIQUE THE Web coupon firm, all of three years old but with 12,000 employees already, expects to have the same effect on the world that spawned xerox and google. 536 words
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30 2012-06-02 1 FALL GUY KPMG Singapore managing director laments the onslaught of European government regulations when the root problem, he feels, is that of perception. 1230 words
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Article, Illustration1145 2012-06-02 1 Joyce Hooi - Ever wondered what your S’pore assets would fetch in a global barter marketplace? By Joyce Hooi joyceh@sph.com.sg Singapore ONE man’s Chery QQ is another man’s Porsche Boxster Black Edition if the Porsche man were shopping for a car in the1,145 words
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539 2012-06-02 1 Teh Shi Ning - Eurozone jobless, US jobs growth, China and India deteriorate By Teh Shi Ning tshining@sph.com.sg Singapore THE world’s major economies yesterday released more bleak data, underscoring the darkening global economic outlook. Eurozone unemployment soared to a record high while manufacturing contracted further as the region’s debt539 words
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Page 1 Advertisements
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Advertisement29 2012-06-02 1 the business www. usinesstimes.com. THE RAFFLES CONVERSATION RAY FERGUSON, CEO OF STANDARD CHARTERED SINGAPORE 10-11 MOTORING Ferrari 458 Spider L19 LIVING What's spicing up the local dining scene L2-429 words
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Advertisement8 2012-06-02 1 WEALTH Two faces of exchange traded products 30-318 words
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TOP STORIES
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Article, Illustration702 2012-06-02 2 Kenneth Lim - Weak economic figures from China and India taking the shine off gold trade By Kenneth Lim kenlim@sph.com.sg Singapore GOLD investors have turned near-term cautious after surprisingly weak economic figures in India and China, the world’s largest consumers of the precious metal. “Everybody’sREUTERS - 702 words
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MARKETS
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Article58 2012-06-02 2 HSTI 2,745.71 (-26.83) HSTI FUTURES 2,746 (-27) HSIMSCI 314.43 (-3.75) HSIMSCI FUTURES 314.50 (-3.80) Friday Change KL COMP 1,573.59 -7.08 NIKKEI 225 8,440.25 -102.48 HANG SENG 18,558.34 -71.18 SET 1,115.19 -26.31 JAKARTA 3,799.77 -33.06 MANILA 5,062.44 -28.79 KOSPI 1,834.51 -8.96 SHENZHEN B 646.59 -3.90 MUMBAI IND 15,965.16 -253.37 12noon58 words
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Article27 2012-06-02 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.448 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.52 INDIA 14.7527 words
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Article48 2012-06-02 2 us$ s$ US$ (S$ per US$) 1.289 (US$/S$ per 1.532 1.976 EURO(US$/S$/E) 1.234 1.591 Foreign currency per US$ S$ YEN 78.40 60.80 RM 3.189 2.473 HK$ 7.760 6.019 BAHT 31.84 24.70 RUPIAH 9,440 7,322 RENMINBI 6.370 4.941 INDIAN RUPEE 55.92 43.37 A$ 1.034 0.802 NZ$ 1.332 1.03448 words
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Article, Illustration604 2012-06-02 3 Payrolls climb by 69,000 last month; jobless rate rises to 8.2% from 8.1%, while hours worked decline LATEST US DATA Bloomberg Washington AMERICAN employers in May added the fewest workers in a year and the unemployment rate unexpectedly increased as job-seekers re-entered the workforce,Bloomberg; AFP - 604 words
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340 2012-06-02 4 / 5 Mindy Tan - Taskforce set up, to give its recommendations to ACE and MOE in six months By Mindy Tan tanmindy@sph.com.sg Singapore AN entrepreneurship education taskforce, co-chaired by Spring Singapore and the Ministry of Education (MOE), has been set up to establish a more structured340 words
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Article, Illustration1104 2012-06-02 6 Anna Teo - Company hopes for a trend where more and more people will say ‘go groupon it’ By Anna Teo anna@sph.com.sg Singapore VEIT Dengler believes “groupon” will soon become a verb in everyday lingo, like xerox or google but then, he is one of1,104 words
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350 2012-06-02 6 Investors in region out to acquire brands with global reach Reuters Singapore THE European debt crisis is presenting bargains for cash-rich Asian firms such as Hong Konglisted conglomerate Hutchison Whampoa Ltd and Malaysian gaming company Genting Bhd, Macquarie Securities said. Currency weaknessReuters - 350 words
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Article159 2012-06-02 8 THE Monetary Authority of Singapore has re-appointed Minister for Trade and Industry Lim Hng Kiang to its board of directors as deputy chairman for another two years, with effect from yesterday. It also appointed National University of Singapore president Tan Chorh Chuan to its board159 words
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Article, Illustration408 2012-06-02 8 Teh Shi Ning - Move involves 2 reshuffles, one new appointment By Teh Shi Ning tshining@sph.com.sg Singapore IN the latest round of changes in the top ranks of the Civil Service, Economic Development Board (EDB) managing director Beh Swan Gin, 44, will be appointed the new permanent408 words
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Page 2 Advertisements
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Advertisement96 2012-06-02 2 CONTENTS NEWS Top Stories 2-8 Week in Review 9 Raffles Conversation 10-11 Companies 12-15 From The Desk Of 16 Singapore 17-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-35 Private equity woes 32 Public pension funds 33 Real Estate 34-35 LIVING Dining L2-8 Design L9 Style L10-11 Home garden96 words
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Page 3 Advertisements
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Advertisement77 2012-06-02 3 SINGAPORE —SWEEP— 1 ST PRIZE $2,200,000 2 MD PRIZE $500,000 $250,000 $800,000 3 rd PRIZE SUPER SWEEP SNOWBALLED TO Jat tS Sj&jfa SWEEP 06/2012 $2.2 Million m 1st Prize 2nd Prl»e $500,000 3rd Pri** $250,000 SINGAPORE -SWEEP- Draw No. *****12 JHPll *****40 I $3 DRAW ON WEDNESDAY, 6 JUNE 201277 words
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Page 4 / 5 Advertisements
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Advertisement211 2012-06-02 4 / 5 m Queen Elizabeth h DIAMOND JUBILEE MEMBERSHIP IS AN ASSET As part of The British Club's Queen’s Diamond Jubilee Celebrations, The British Club is pleased to announce a wonderful Membership offer, available only in the month of June 2012. Join now and you could save up to $5,000. A once-in-a-lifetime211 words
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Page 7 Advertisements
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Advertisement116 2012-06-02 7 p resen t e d b y CORPORATE BIGGER, BETTER AND PROMISES TO DELIVER MORE THAN EVER BEFORE The Business Times Corporate Golf League offers the ideal platform for companies in Singapore to enhance relationships with clients, expand contacts with industry professionals, while engaging in friendly competition in the exciting116 words
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Page 8 Advertisements
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Advertisement497 2012-06-02 8 UP YOUR MANAGEMENT SKILLS Utilising areas of Productivity, Social Media Negotiation Who should attend: Corporate Communications Professionals, Human Resource Professionals, Head Hunters, Search firm owners, Team Leads, Departmental Heads, Operational Managers, Supervisors Register at www.stjobs.sg/seminars FULL-DAY WORKSHOPS Transforming Service Breakdown to Opportunities Monday, 18 June SPH News Centre (9.30am to497 words
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WEEK IN REVIEW/WEEK AHEAD
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THIS WEEK May 28-June 1, 2012
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45 2012-06-02 9 IT appears people with existing home loans are not going back so often for more. In contrast, those without outstanding mortgages now take up a higher share of private home loans, according to latest figures from Credit Bureau (Singapore).45 words
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57 2012-06-02 9 BREACHING the 60 per cent barrier in Saturday’s Hougang byelection was beyond the Workers’ Party’s own expectations, said party chairman Sylvia Lim. She was speaking to reporters the morning after the WP’s Png Eng Huat garnered 62.1 per cent of the vote against the ruling57 words
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54 2012-06-02 9 HONG Kong billionaire Chu Yuet-Wah has a sparkling old jewel on her hands Singapore-based luxury watch chain Sincere Watch. She plans to bring in a new board o f di rec t ors 26-year-old son. i nc l u di n g54 words
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63 2012-06-02 9 THE Infocomm Development Authority and Media Development Authority have decided to drop their search for a standardised box through which the country’s various entertainment providers could reach homes. The introduction of a standardised box would have been a boon to a small63 words
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62 2012-06-02 9 THE pace of liberalisation in Singapore’s legal sector is set to kick up another notch, as the government stands ready to issue a second round of Qualifying Foreign Law Practice licences to foreign law firms. The Law Ministry said that it62 words
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46 2012-06-02 9 JAPAN and China have announced officially that they would begin direct trading between their currencies from Friday. The move is seen as highly significant in boosting economic links between the two countries and bolstering the global role of the renminbi.46 words
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42 2012-06-02 9 AMID rising costs in part due to ongoing economic restructuring Singapore has slipped one rung to an unfamiliar fourth place on the latest global competitiveness rankings compiled by Swiss business school IMD. Hong Kong retained pole position.42 words
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48 2012-06-02 9 An award to recognise small- and medium-sized enterprises came with the declaration that it had the support of a ministry and a statutory board. This claim is now being withdrawn as the ministry apparently had not authorised it.48 words
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Article, Illustration66 2012-06-02 9 SINGAPORE’S car population will be allowed to grow slightly faster than was earlier planned. Two steps announced on Wednesday will suck out fewer COEs from the system, starting August, than was earlier planned. BOXED IN The reality is that the slowing vehicle deregistrationFILE PHOTO - 66 words
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40 2012-06-02 9 SEMBCORP Marine has lost its legal tussle with PPL Holdings for a 15 per cent stake in PPL Shipyard. High Court Judge Tay Yong Kwang dismissed SembMarine’s claims in their entirety on Thursday.40 words
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87 2012-06-02 9 INDONESIA’S central bank said that it plans to cap single ownership in the country’s banks at 40 per cent for new investment, a rule that would scupper a US$7.3 billion bid by Singapore’s DBS Group Holdings for Bank Danamon, Asia’s fourth-largest87 words
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76 2012-06-02 9 INSTEAD of more Certificates of Entitlement or COEs from August, car buyers could face a further 26 per cent cut to an already tiny quota. Government measures announced on Wednesday to relieve the COE supply crunch was good news to many76 words
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Article89 2012-06-02 9 US DATA June 4 April factory orders June 5 May ISM services June 6 Revised Q1 productivity Revised Q1 unit labour costs June 7 April consumer credit June 8 April trade balance April wholesale inventories SINGAPORE DATA June 7 May international reserves EVENTS June 589 words
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Page 9 Miscellaneous
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Miscellaneous292 2012-06-02 9 Across 5 Shot a line after private action that backfired? (3,4) 7 A diamond ring, returned in the end (5) 9 Carnival provided retired with free teas (6) 10 First and second entering woodland (8) 11 Repartee, as such, involving one with banner (10) 13 Some keep on going, causing292 words
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Miscellaneous4 2012-06-02 9 SATURDAY with Ludwig ‘Foreclosure4 words
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THE RAFFLES CONVERSATION
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Article, Illustration2272 2012-06-02 10 / 11 Jamie Lee - Clear present strategy For Ray Ferguson, CEO of Standard Chartered Singapore, service is not just a feel-good factor. It is what attracts new customers to the bank, and builds loyalty among existing ones. By Jamie Lee By Jamie Lee leejamie@sph.com.sg Dinner was about an hour late at a steakhouse inYEN MENG JIIN - 2,272 words
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COMPANIES
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418 2012-06-02 12 Jamie Lee - Root problem facing audit profession is one of perception, says KPMG managing partner By Jamie Lee leejamie@sph.com.sg Singapore AUDITORS would have to work with greater regulatory pressure in the future, as more rules are being drafted to keep auditors in check, said managing partner at418 words
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Article, Illustration407 2012-06-02 12 Lynn Kan - By Lynn Kan lynnkan@sph.com.sg Singapore KEPPEL Fels, the rig building arm of Keppel Corporation, will build a US$560 million ultra harsh-environment jack-up rig for Maersk Drilling. The Gusto MSC CJ70 is the third such unit it is building for Maersk Drilling, with the407 words
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234 2012-06-02 12 Conrad Tan - By Conrad Tan conradt@sph.com.sg Singapore DBS Group Holdings has appointed a former Credit Suisse banker to head its China operations, replacing current DBS China chief executive Melvin Teo, who will move to a new position within the group. Neil Ge, 53, has been appointed234 words
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Article, Illustration505 2012-06-02 13 Reuters London TWO suitors vying for the London Metal Exchange (LME) made presentations of their bids to the bourse’s board on Thursday, two sources with knowledge of the matter said, as the race to buy the 135-year-old institution nears its end.Reuters; REUTERS - 505 words
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411 2012-06-02 13 Kelly Tay - Chairman stresses benefits of US$49m deal with UK satellite equipment company Global Invacom Holdings By Kelly Tay kellytay@sph.com.sg Singapore RADIANCE Group’s executive chairman, Tony Taylor, yesterday stressed that minority shareholders will stand to benefit from the company’s US$49 million reverse takeover (RTO) deal with411 words
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485 2012-06-02 14 Healthcare operator will have a dual listing in Singapore with marketing scheduled to begin in July: sources Bloomberg Kuala Lumpur IHH Healthcare Bhd, Asia’s biggest hospital operator, plans to raise more than RM6 billion (S$2.4 billion) in an initial public offering (IPO) inBloomberg - 485 words
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Article, Illustration683 2012-06-02 14 Bloomberg London MOTOR sport racing company Formula One has delayed its Singapore initial public offering (IPO) worth up to US$3 billion, the fifth big Asian IPO to be postponed or pulled in a week, as weak markets bring the global market forBloomberg - 683 words
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Article, Illustration788 2012-06-02 15 R Sivanithy - STOCKS R Sivanithy sivan@sph.com.sg Senior correspondent THE Straits Times Index (STI) started the week at 2,772.75 and ended yesterday at 2,745.71, registering a loss of about 27 points or one per cent. In between, Greece’s debt, austerity and recession worries were set aside788 words
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Business briefing
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49 2012-06-02 15 GOH Teik Poh is leaving Neptune Orient Lines (NOL) as its regional president (South Asia) on July 1 “to pursue other interests”. Replacing him is Jason Wong. Mr Wong’s current position is that of VP, Intra-Asia, Middle East Australia.49 words
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46 2012-06-02 15 CONSTRUCTION firm CCM Group's subsidiary, CCM Industrial, has won a $2.69 million contract from the West Coast Town Council for the repairs and repainting of 34 blocks of flats, including four link buildings at Jurong West Street 64 /Central 1.46 words
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60 2012-06-02 15 YOMA Strategic Holdings said it has completed the acquisition of a 70 per cent economic interest in the remaining land development rights in the Star City project. This gives the group an effective interest of 70 per cent in “special purpose entity” Thanlyin Estate Development60 words
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51 2012-06-02 15 ASIA Fashion Holdings yesterday said it expects the group to report a loss for the first quarter ended March 31, due to a general decline in demand for fabrics, lower average selling price, and lower level of production facilities utilisation rate stemming from insufficient production51 words
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53 2012-06-02 15 SUNRAY Holdings, which was placed under the watch-list and has until June 2 to meet the requirements to exit from the watch-list, yesterday said it has considered various potential mergers and acquisitions transactions, as well as co-operation or collaborations with third parties, with53 words
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Article270 2012-06-02 15 Kenneth Lim - By Kenneth Lim kenlim@sph.com.sg Singapore SUSPENDED KXD Digital Entertainment received court approval to undergo liquidation yesterday, saying it does not have enough money to pay its debts. Yit Chee Wah Steven of FTI Consulting has been appointed liquidator. Ashok Kumar of TSMP Law Corp acted for270 words
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Page 13 Advertisements
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Advertisement35 2012-06-02 13 i/v/V JACKPOT Estimated Draw on Mon, 4 Inn 2012 at 6.30pm For details, visit www.singaporepools.com.sg Always play with care, [responsibly] Do not bet illegally. RGB Reg No: *****0202G Towards Community Purpose and Benefit SINGAPORE POOLS35 words
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Page 14 Advertisements
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Advertisement7 2012-06-02 14 Available at KINOKUNIYA PROLOGUE MPH TIMES DUFRY7 words
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Page 15 Advertisements
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Advertisement137 2012-06-02 15 MATS NOTICES MASTRO INVESTMENT PTE LTD (In Voluntary Liquidation! (Company Reg. No. 2004-*****-E) NOTICE IS HEREBY GIVEN PURSUANT TO SECTION 308 OF THE COMPANIES ACT, CAP. 50 THAT A FINAL GENERAL MEETING OF THE COMPANY WILL BE HELD ON THE 29TH JUNE 2012 AT 10.00 A.M. AT 9 KELANTAN LANE137 words
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FROM THE DESK OF
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Article, Illustration920 2012-06-02 16 Anselm de Souza - Modern IT infrastructure is available for private banks and wealth managers to operate a customer relationship management system with a 360-degree view of the client FROM THE DESK OF Anselm de Souza Managing Director, Asia Pacific Callataÿ Wouters AS HAS been widely reported and acknowledged, Singapore’s wealth920 words
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SINGAPORE
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499 2012-06-02 17 Lynette Khoo - Chinese city beefing up infrastructure, expects long-term gain for economy from Games By Lynette Khoo lynkhoo@sph.com.sg NANJING, the second city after Singapore to be picked to host the Youth Olympic Games, is ramping up its infrastructure and hopes to learn from the499 words
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Article, Illustration463 2012-06-02 17 Rachel Au-Yong - By Rachel Au-Yong rachelay@sph.com.sg THE elderly may have one less worry when Sofshell introduces its hip protector to markets by next year. The year-old start-up has developed a lightweight and flexible material that can harden only upon impact. “Other technologies are only capableA-STAR - 463 words
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269 2012-06-02 17 Mindy Tan - By Mindy Tan tanmindy@sph.com.sg CAPITALAND Ltd yesterday announced the divestment of its serviced residence property Citadines Ashley Hong Kong to Jasen Industries Ltd, for HK$311 million (S$51.6 million). The agreement covers the divestment of CapitaLand’s whollyowned subsidiary Citadines Ashley TST (Hong Kong) Ltd, whose sole269 words
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567 2012-06-02 18 Malminderjit Singh - It plans to complement this modernisation effort with confidence building measures By Malminderjit Singh msingh@sph.com.sg INDONESIA is likely to increase its military spending in the coming years, but is quick to assure that there is no reason to be alarmed. To achieve this, it567 words
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442 2012-06-02 18 Audrey Tan - By Audrey Tan audreyt@sph.com.sg GOOD news for job seekers: First-quarter recruitment advertisements in Singapore bucked a regional slowdown to grow at a robust clip. The number of job advertisements for executive appointments in Singapore increased by 11.4 per cent in the first442 words
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308 2012-06-02 18 Genevieve Cua - By Genevieve Cua gen@sph.com.sg FUNDSUPERMART is slashing its front-end load on more than 50 fixed income funds to zero, in a move that should help enhance returns for investors. The reduction took effect yesterday and is part of a programme called Wise (Where Income308 words
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Page 18 Advertisements
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Advertisement47 2012-06-02 18 Jurong Health has vacancies in Nursing M1 has positions open in Customer Service ST Aerospace Engines is recruiting a QA Manager Pfizer Asia Pacific is hiring a Process Engineer Chevron is looking for an HR Business Partner Check out more than 500 positions available in CATS Recruit47 words
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WORLD
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Article, Illustration590 2012-06-02 19 More job losses seen as debt crisis cripples business hiring, govts continue to cut staff Reuters Brussels EUROZONE unemployment has hit a record high, and job losses are likely to keep climbing as the bloc’s devastating debt crisis eats away at businesses’ abilityReuters; REUTERS - 590 words
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246 2012-06-02 19 Reuters Jakarta INDONESIA’S Bakrie Group is asking creditors of a US$437 million loan for time until end of July to resolve a mid-April covenant breach following a drop in the price of its London-listed coal company Bumi plc, sources familiar with the loanReuters - 246 words
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569 2012-06-02 19 Reuters London ANY chance of a quick fix to stop the threat of a run on savings at troubled European banks is likely to be limited, as European Union policymakers face a tricky and lengthy fight if they are to introduceReuters - 569 words
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522 2012-06-02 20 Weakening of both official and private index readings worrying for investors Reuters Beijing CHINA’S economy betrayed signs of a broadening slowdown as surveys of its vast factory sector showed momentum eased in May, signalling a deeper-than-forecast deterioration in demand at home and abroad andReuters - 522 words
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370 2012-06-02 20 Reuters Bangalore MANUFACTURING sector in India expanded steadily last month, driven by rising output, a private business survey showed yesterday, although official data painted a different picture. The HSBC manufacturing Purchasing Managers’ Index (PMI), compiled by Markit, eased marginally to 54.8 inReuters - 370 words
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710 2012-06-02 21 Despite moves to spur private investment, they’ll remain ‘mainstay’ of economy Reuters Beijing CHINA’S top official newspaper yesterday defended the dominance of state-owned companies, signalling that they will remain bulwarks of economic policy despite a series of moves to spur private investment. ChineseReuters - 710 words
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Article, Illustration398 2012-06-02 21 NYT Hong Kong CHINA’S currency dropped further in May against the dollar than in any other month since the Chinese government began allowing the yuan to appreciate gradually in summer 2005. The shift could help Chinese exports but worsen trade friction withNYT; REUTERS - 398 words
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408 2012-06-02 21 REUTERS Hong Kong MACAU, the world’s largest gambling destination, reported a 7.3 per cent growth in its May gambling revenue yesterday, the slowest expansion rate recorded since July 2009. Total revenue of 26.08 billion patacas (S$4.2 billion) recorded for May isREUTERS - 408 words
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Article, Illustration612 2012-06-02 22 She also calls for transparency in all investments, aid projects in the country Bloomberg Bangkok MYANMAR opposition leader Aung San Suu Kyi called for investments that create jobs to avoid a “time bomb” of youth unemployment on her first trip abroadBloomberg; BLOOMBERG - 612 words
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647 2012-06-02 22 Surprise slowdown, first drop since April ’09, reflects global woes Reuters Jakarta INDONESIAN exports unexpectedly fell in April for the first time in nearly three years, on lower values of oil and rubber shipments, which may force the central bank to shift its focusReuters - 647 words
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Page 20 Advertisements
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Advertisement26 2012-06-02 20 www.omy.sg mm mtsfctsii! atss$n« K V ¥#UiSS(i£ Vice Ring Probe Available on ANDROID APR ON "V Google play X4UII*A«: mmmm. mx mmmtmG mmmz 0E10 0 www.omy.sg26 words
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Page 20 Miscellaneous
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Miscellaneous18 2012-06-02 20 THE MOST FUN IN THE MORNINGS V O v\ ROD MDNTEIRD THE MARRIED MEN WEEKDAYS 6AM TO lOAM18 words
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Page 22 Advertisements
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Advertisement26 2012-06-02 22 Christie'sHK auctionslose lustreas mainland buyersturn rational buyers turn II rational To subscribe, call 6388-3838 or go to sphsubscription.com.sg To subscribe, call 6388-3838 or go to sphsubscription.com.sg26 words
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Article7840 2012-06-02 23 Transaction date: Jun 1 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 13.5 14 66.8 0.4 3.2 64.7 8.5 4 A-Sonic 4.2 unch 150 4.2 4.2 4.1 5 3.1 30.17,840 words
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Article1686 2012-06-02 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 $mil 34 12.1 t 800 Super 17 +0.6 112 17 15.5 15.5 17 4.7 3.2 6.6 30.4 4 2.5 t AA Grp 3.6 2.8 3.7 3.51,686 words
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Article186 2012-06-02 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 4 8 0 0 0 3 4 8 Manufacturing 33 55 32 4 4 8 37 59 40 Commerce 12 24 15 3 3 3 15 27 18 Tpt/Stor/Comms 7 22 6186 words
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Article121 2012-06-02 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 16,584 16,584 80,634 80,634 Manufacturing 252,602 24,184 276,786 159,996 1,133 161,129 Commerce 214,471 4,373 218,844 166,215 353 166,567 Tpt/Stor/Comms 85,807 15,170 100,977 122,546 4,035 126,581 Finance 11,304 11,304 106,448 106,448 Construction 46,000 6,810 52,810 7,478121 words
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Article807 2012-06-02 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning May 28 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Treasury Hldgs Reit 30-May-12 John Ronan ST ***** na ***** 5.25 0 0.00 F J Benjamin 30-May-12807 words
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MARKETS
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Article80 2012-06-02 27 May 31 COCOA (£/tonne) Close Prev High/Low Jul 12 1471 1450 1480/1456 Sep 12 1468 1448 1474/1450 Dec 12 1450 1432 1454/1436 Mar 13 1432 1414 1435/1419 COFFEE(US$/tonne) Close Prev High/Low May 12 2211 2211 2216/2163 Jul 12 2180 2213 2223/2168 Sep 12 2162 2189 2195/2147 Nov 12 214780 words
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Article69 2012-06-02 27 Jun 1 GOLD(US$/oz) Jun 01 May 31 Hong Kong 1564.10 1573.00 May 31 May 31 May 30 London 1565.59 1551.61 1566.51 1552.38 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 35.89 35.22 Source: UOB PLATINUM Lon (US$/oz) May 31 Close Previous PM Fix 1405.00 1410.00 AM Fix 1412.0069 words
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Article42 2012-06-02 27 Jun 1 HLC£ PAUM FUTURES (RM/AffT) t\» < A Jr i: mt 1 «»/4l iMtU dUUJU «AMi :*tu A ‘U '1 vrrvtl i.rM« it r if tDL>E irv y»> 1 i •try i> ll»MI *V? 1 11 •Ad" Source: Bursa Malaysia42 words
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Article88 2012-06-02 27 Jun 1 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****T 30-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-14 100.06 100.1 100.06 5-Year N*****0Z 2.375 01-Apr-17 108.78 108.85 108.7588 words
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Article154 2012-06-02 27 Jun 1 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2458 1.2471 0.9667 0.9670 Canadian dollar 1.2419 1.2433 0.9637 0.9640 Euro 1.5904 1.5919 1.2341 1.2343 NZ dollar 0.9667 0.9684 0.7501 0.7509 Sterling pound 1.9747 1.9766 1.5323 1.5326154 words
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Article, Illustration105 2012-06-02 27 As on 31 May 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) CURRENCY AUD-USD FUT JUN2012 .9728 .9677 .9726 1732 EUR-USD FUT JUN2012 1.2429 1.2338 1.2373 2609 BASE METAL COPPER FUT JUL2012 7486 7373 7419 2336 INDEX IRON ORE (MBIO) IDX FUT MAY2012 134.90 134.10105 words
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Article103 2012-06-02 27 May 31 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jul 12 1340.00 1373.25 1377.50 1339.50 Aug 12 1322.75 1354.25 1358.75 1322.50 Sep 12 1293.75 1321.00 1323.00 1292.50 Nov 12 1270.25 1293.00 1297.25 1265.00 SOYBEAN/OIL(60,000 lbs; USc/lb) Close Previous High/Low Jul 12 49.20 49.69 49.77 49.00103 words
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Article74 2012-06-02 27 May 31 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 102.08 -1.53 WTI (Near Mth) 86.65 -0.83 Dubai (1-Mth F) 101.57 -1.38 Tapis blend 109.92 -1.48 Minas 110.82 -1.48 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 90.00 -2.83 Jet Kerosene 116.58 -1.77 US$/barrel OpecOil Basket Price 101.0674 words
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Article116 2012-06-02 27 Jun 1 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.274 1.214 Can dollar 1.273 1.213 Euro 1.627 1.550 Sterling pound 2.020 1.943 NZ dollar 0.993 0.946 US dollar 1.310 1.260 Local dollars to 100 units of foreign currency: Currencies Sell Buy Chi116 words
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Article48 2012-06-02 27 May 31 AUmi iriwn, f pr»* cw 4fe«9 W5 ••••<)• 4»fnr» orrr.*. Ctatfar. Gnts» A -i r*Ma: IfrrrfJn T-f?',"*-TVfftB .j .4i\ r*Xm J •►.Win 'nr m «Vf><Tv M»JU lATMfll j r*crOn «42A| •Av*l*» It* w> «n *Af|» iimrviv* l>Mtl* Win*' MTTIli«> IWUM* Irani* 'T-tr IWAJ* Source: Bloomberg48 words
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373 2012-06-02 27 In local curr In S$ In US$ dy yr dy yr dy yr May 31 Index Change Change Change Change Change Change World Preliminary 833.9 -0.6 0.5 -0.6 -1.4 -0.7 -0.8 EAFE Preliminary 662.6 -0.3 -2.9 -0.5 -6.3 -0.5 -5.7 Europe Preliminary 983.6 -0.2 -4.2373 words
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Article, Illustration106 2012-06-02 27 Straits Times Index YTD change: +3.76% 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: +0.67% 52-week high: 23,706.00 on June 1,2011 52-week low: 16,170.30 on Oct 4,2011 Source: Bloomberg Dow Jones Industrial Average YTD change: +1.44% 52-weekSource: Bloomberg - 106 words
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PERSPECTIVE
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Article, Illustration1064 2012-06-02 28 / 29 Andrés Velasco - The experience in Argentina suggests that, after the run on bank deposits, the saga’s next instalment is monetary collapse. By Andrés Velasco By Andrés Velasco ~The writer, a former finance minister of Chile, is a visiting professor at Columbia University Project Syndicate POLICYMAKERSProject Syndicate; REUTERS - 1,064 words
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Article, Illustration765 2012-06-02 28 / 29 Robert Samuelson - Robert Samuelson The Washing ton Post Writers Group THIS election is being fought along the traditional skirmish line of capital versus labour. President Barack Obama projects himself as the protector of workers and families who are preyed upon by greedy and wealthy capitalists. MittThe Washington Post Writers Group - 765 words
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Wealth
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WEALTH INVESTING
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Article, Illustration1771 2012-06-02 30 / 31 Christopher Condon - Often based on derivatives, these can be weapons for savvy investors or hazardous for those who misunderstand them. By Christopher Condon By Christopher Condon Bloomberg IF you are convinced, really convinced, the price of crude oil will rise today and US stocks willBloomberg; REUTERS - 1,771 words
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Article694 2012-06-02 30 / 31 Joyce Hooi - Compiled by Joyce Hooi Sakari Resources Hold OCBC Investment Research June 1 Close: $1.365| TUMBLE in stock price. Sakari Resources Limited (SRL) saw its share price taking a big hit, falling some 31 per cent after reporting a dismal set of Q1 2012 results; this despite the management694 words
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Article, Illustration1216 2012-06-02 32 Steven Davidoff - They find going tough amid growing competition from cash-rich strategic buyers. By Steven Davidoff NYT IT is not easy being a private equity firm like the Blackstone Group or Kohlberg Kravis Roberts (KKR) these days. Not only do you have to worry aboutNYT; REUTERS - 1,216 words
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Article, Illustration1430 2012-06-02 33 Mary Williams Walsh, Danny Hakim - They’re struggling with risks on their rate of return. By Mary Williams Walsh, Danny Hakim NYT FEW investors are more bullish these days than US public pension funds. While Americans are typically earning less than one per cent interest on their savings accountsNYT; AFP - 1,430 words
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WEALTH REAL ESTATE
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Article1171 2012-06-02 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN MAY 2 AND MAY 8, 2012 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 17 LANDED Liria Terrace 3-Ter 02/05/2012 FH 1628 2028 1246 NON-LANDED Ferraria Park Cdo Apt 05/05/2012 FH1,171 words
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Article, Illustration1104 2012-06-02 35 But the massive development of the Yongsan area adds to worries of an office glut in Seoul Bloomberg Seoul SEOUL’S Yongsan area, for a century the site of Japanese and US military bases, is set to be remade in a US$26 billion project thatBloomberg; BLOOMBERG - 1,104 words
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Advertisement77 2012-06-02 36 GO O r O CD > TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. t -r iUDEMARS PIQUET i Brass us Ye <45 1 s* m v a-- ORI DE .PIGUE'T'BOUTIQUE >. s y OWERS’,#01 -03 •> s -.V r* T% :.>0;'. it* T 4 > jlfcv > •T‘s^77 words
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Advertisement53 2012-06-02 1 LivingBTTHE BUSINESS TIMES WEEKEND JUNE 2-3 2012 ASIAN APPETITES What's spicing up the local dining scene L2-4 PHOTO: YEN MENG JIIN STYLE Retro revival L10-11 GOLF The personality factor L17 DINING Expat grocersL5-6 DESIGN Voon Wong: The sky's no limit L9 MOTORING A plusher Camry L20 PERSONAL STYLE Patricia Urquiola's53 words
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BT Living
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DINING
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Article, Illustration2657 2012-06-02 2 / 3 Debbie Yong; Cheah Ui-Hoon; Tan Teck Heng - W kendf nds out what’ cooking in the latest Indonesian and Filipino restaurants in town. And discovers a South Indian joint that serves up banana leaf cuisine with a light, fresh touch By Debbie Yong debyong@sph.com.sg By Cheah Ui-Hoon uihoon@sph.com.sg By Tan Teck Heng thtan@sph.com.sg Upmarket Indonesians SeribuSERIBU SARI PHOTOS BY YEN MENG JIIN; RUMAH RASA PHOTOS COURTESY OF BAY HOTEL; PHOTOS COURTESY OF WHAT THE FISH; PHOTOS OF GERRY’S GRILL BY TAN TECK HENG - 2,657 words
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Article, Illustration2028 2012-06-02 5 Jaime Ee; Rachel Loi; Geoffrey Eu - It’s not that difficult to find international food products, from Spanish ham to Danish bread, in cosmopolitan Singapore. But for pockets of expatriates who yearn for their rather scarce native products, BT Weekend checks out where to get some of them By Jaime Ee jaime@sph.com.sgARTHUR LEE; JOHN HENG - 2,028 words
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Article, Illustration1312 2012-06-02 7 Tan Teck Heng; Rachel Loi; Rachel Au-Yong - The now famous Ali Baba Eating House which launched the business of two F&B players is now the launch pad for another. BT Weekend checks out the new contender and the growing trend of fine dining in humble surroundings By Tan Teck Heng thtan@sph.com.sg With additional reportingJOSHUA KHOO - 1,312 words
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Article, Illustration551 2012-06-02 8 Rachel Au-Yong - By Rachel Au-Yong Streets of London Blk 161 Bukit Merah Central, #01-3725 Z 6377-0850 rachelay@sph.com.sg A QUEUE starts forming outside Streets of London within 45 minutes of its opening time every day. But this is no Miche-lin-starred restaurant not yet, anyway. In fact,551 words
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DESIGN
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Article, Illustration731 2012-06-02 9 Daven Wu - Award-winning VW+BS’s design for the new interiors of Virgin Atlantic’s Upper Class suites is simply out of this world. By Daven Wu btnews@sph.com.sg EVERY designer dreams of that Holy Grail commission that will put his name up there in bright marquee lights a vindication that all731 words
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STYLE
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Article, Illustration2128 2012-06-02 10 / 11 Debbie Yong; Aaron Justin Tan; Tan Teck Heng - Vintage goods are no longer something you can only admire from a distance in themed eateries. BT Weekend rounds up a new crop of specialist lifestyle stores that let you work the love of vintage into your daily lives By Debbie Yong debyong@sph.com.sg By Aaron Justin Tan tanaaron@sph.com.PHOTOS BY YEN MENG JIIN - 2,128 words
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HOME & GARDEN
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Article, Illustration1204 2012-06-02 12 / 13 Cheah Ui-Hoon - Patricia Urquiola’s work may be driven by an enquiring and curious spirit, but she eschews big changes and keeps her own home simple and personal, with a strong emphasis on community. By Cheah Ui-Hoon personal style By Cheah Ui-Hoon uihoon@sph.com.sg I F Spanish architect and designer Patricia UrquiolaAXOR URQUIOLA; MANDARIN ORIENTAL BARCELONA; PORTRAIT OF PATRICIA URQUIOLA BY ALESSANDRO PADERNI STUDIO EYE; PRODUCT PHOTOS, UNLESS OTHERWISE STATED, COURTESY OF PATRICIA URQUIOLA STUDIO - 1,204 words
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GADGETS
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Article, Illustration696 2012-06-02 14 Christopher Lim - Shopping for a new mobile phone means being spoilt for choice because there are so many good options now, but deciphering the basic differences is important because buying a phone is no longer just about buying a gadget it’s also about buying into an ecosystem696 words
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HEALTH
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Article, Illustration958 2012-06-02 15 Cheah Ui-Hoon - The younger a woman is when she turns to assisted reproduction, the greater her chances of conceiving. By Cheah Ui-Hoon uihoon@sph.com.sg INFERTILE couples who want to start a family should turn to in-vitro fertilisation (IVF) early for a higher success rate, advises Loh SeongSource: - 958 words
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SPORTS
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Article, Illustration667 2012-06-02 16 Lee U-Wen - no holds barred Lee U-Wen leeuwen@sph.com.sg Correspondent GROUP of death? Piece of cake, says former Netherlands superstar Edgar Davids, whose country is in arguably the toughest of the four groups at the upcoming Euro 2012 football championships. Not only does the retired 39-year-old feelSEAH KWANG PENG/ THE STRAITS TIMES - 667 words
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546 2012-06-02 16 lee u-wen - kick off with lee u-wen MANCHESTER United may have lost the Barclays Premier League (BPL) title to cross-town rivals Manchester City in heartbreaking fashion earlier this month, but the Red Devils at least have the consolation of being the most-followed football club546 words
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GOLF
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Article, Illustration1403 2012-06-02 17 Justine Moss - Whether it’s important to play to the fans and media will boil down to what each player’s individual goals are for his career. By Justine Moss By Justine Moss btnews@sph.com.sg Sometimes, you just can’t please everyone. When pro golfer Jason Dufner won his first US PGA titlePHOTOS: AFP - 1,403 words
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MOTORING
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Article, Illustration702 2012-06-02 18 Samuel Ee - Car combines the sporty dynamics of the 6 Series with the status and presence of the 7 Series. By Samuel Ee By Samuel Ee samuelee@sph.com.sg WITH one extra word in its name, the 6 Series gets another two doors. The 6 Series Gran Coupe is the four-door coupe702 words
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Article, Illustration693 2012-06-02 19 Samuel Ee - Ferrari has simplified its shape to make it more compact and less heavy. By Samuel Ee samuelee@sph.com.sg ONE interesting consequence of the Ferrari 458 Spider’s transition from a soft-top to a hard-top convertible is that with the roof in place, the Spider looks very much like693 words
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Article, Illustration575 2012-06-02 20 Samuel Ee - New car is more confident and now glides over road irregularities. By Samuel Ee samuelee@sph.com.sg WHAT was once Singap o r e mid-sized sedan has s b es t se ll i n g m i d -sized sedan has since been overtaken by high COE premiums575 words
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Article, Illustration189 2012-06-02 20 CHRYSLER has launched its first diesel model in Singapore the Grand Voyager 2.8L TDI. This legendary American people carrier now gets a turbodiesel engine with 360 Newton-metres of torque. Mated to a six-speed automatic transmission, the diesel-engined Grand Voyager claims a fuel consumption figure of 11.4189 words
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Advertisement770 2012-06-02 6 wine&dinewith BTWeekend Mandarin Court Level 35, Mandarin Orchard Singapore 333 Orchard RoadZ6831-6288 Delight in Executive Chinese Chef Sunny Kong’s signature dishes such as Classic Peking Duck, Double-boiled Assorted Seafood Soup in Golden Melon, Sea Perch in Miso Sauce and Stewed ‘Wu Xi’ Spare Rib in Tangy Sauce or indulge in770 words
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Advertisement26 2012-06-02 14 HOME NEE S Rid your home of unwelcome guests. To find out more, turn to CLASS 116 in CATS Classified in The Straits Times now. ESAT326 words
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Advertisement258 2012-06-02 15 HEART,STROKE&CANCERCENTRE “A medical centre of Singapore Heart, Stroke and Cancer Centre” PreservingHealthandLongevity Expertise in the Prevention, early Detection and Management of Heart disease, Stroke and Cancer Prevent Sudden Death If you suspect heart disease or have risk factors such as high cholesterol, high blood pressure, diabetes mellitus, smoking or a258 words
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