The Business Times, 13 June 2012

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Total Pages: 31
1 32 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 120/08/2011 Wednesday, June 13, 2012
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  • Article
    Lock icon EDB refines its refinery strategy
    759 1  -  It wants no new greenfield refineries for now as Jurong Island fills up and emission concerns rise By RONNIE LIM [SINGAPORE] Singapore may shut the door on new greenfield refineries, at least for a while. Instead, in a strategic twist, the world’s third biggest oil
    759 words
  • Article, Illustration
    Lock icon China’s troubles worse than they look
    976 1  -  Some factors disguise slowdown, other data shows it is widespread By SHU-CHIG JEAN CHEN in Hong Kong CHINA is witnessing a slowdown on several fronts. The recent trade data might have evoked a rare cheer, but the situation looks dire for leading indicators such
    PHOTO: AP  -  976 words
  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      110 1 GST INDEX 2,797.08 (+9.27) GST INDEX FUTURES 2,797.0 (+9.00) GSIMSCI 320.75 (+1.46) GSIMSCI FUTURES 321.10 (+1.80) us$ s$ US$ (S$ per US$) 1.284 (US$/S$ per 1.551 1.991 EURO (US$/S$/E) 1.249 1.605 Foreign currency per US$ S$ YEN 79.60 62.00 RM 3.183 2.478 HK$ 7.758 6.041 BAHT 31.68 24.67 RUPIAH
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    • Article
      Lock icon PRIME RATES
      18 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.377 TAIWAN 5.036 JAPAN 1.475 Source: Source: Bloomberg
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      104 1 COURT CASE Ex-CNB chief charged with corruption PAGE 4 OPINION Why the euro will survive PAGE 23 TRANSPORT HUB Singapore ship sale form usage hits century mark PAGE 19 EXEC MONEY Sanctuary for fund managers in Asia PAGE 32 Deutsche Bank db.com Advice that delivers opportunity. Best Global Bank Euromoney
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      2 1 *****1 *****4
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  • TOP STORIES
    • Article
      Lock icon THREE-MINUTE DIGEST
      345 2 EDB refines its refinery strategy SINGAPORE may shut the door on new greenfield refineries, at least for a while. Instead, in a strategic twist, the world’s third biggest oil refining centre will get existing players like Shell, ExxonMobil, PetroChina and Chevron to upgrade or expand their facilities to
      345 words
    • Article, Illustration
      Lock icon Weigh risks in Myanmar, Chok Tong tells firms
      566 2  -  But he’s confident country is on right track both politically and economically By LEE U-WEN in Naypyidaw WHILE there are investment opportunities aplenty in Myanmar, companies keen on expanding there should weigh the risks for themselves before deciding whether to take the
      566 words
    • Article
      Lock icon EU airline emissions rule seen as a political issue
      630 2  -  Europe asked to step back and allow talks to defuse the row By VEN SREENIVASAN in Beijing THE ongoing conflict over the European Union’s Emissions Trading Scheme (ETS) is no longer an aviation or climate issue, but has become full-fledged political
      630 words
    • Article
      Lock icon Japanese currency is moderately overvalued, says IMF official
      848 2  -  By ANTHONY ROWLEY in Tokyo IN AN unusually explicit comment that dealers say could trigger yen sales, IMF first deputy managing director David Lipton said in Tokyo yesterday that the Japanese currency was “moderately over-valued” such that official intervention could be justified
      848 words
    • Article
      Lock icon Correction
      48 2 IN “Khazanah unit lines up big backers for IPO” (BT, June 12), we described one of the cornerstone investors as United States’s American International Assurance (AIA) group. The company has pointed out that it should be Hong Kong-listed AIA Group Limited. We are sorry for the error.
      48 words
    • Article, Illustration
      Lock icon Ex-CNB chief charged with corruption
      768 4  -  Ng Boon Gay pleads not guilty and will contest charges By GRACE LEONG [SINGAPORE] Another former top civil servant was charged yesterday with corruption in a case where sex was allegedly used as an inducement for business favours. Former Central Narcotics Bureau chief Ng Boon
      WONG KWAI CHOW/THE STRAITS TIMES  -  768 words
    • Article
      Lock icon Scrap rate for vehicles stays flat in May
      583 4  -  Dealers expect COEs for small cars to exceed $80k and Cat B to hit $100k By SAMUEL EE [SINGAPORE] With vehicle deregistrations staying flat in May, some motor distributors expect small-car COE premiums to cross the $80,000 level later this year, while
      583 words
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      43 words
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      107 3 CELEBRATING 40 YEARS OF EXCELLENCE, DELIVERING LOGISTICS FOR THE FUTURE. ON THE OCCASION OF DHL EXPRESS SINGAPORE'S 40TH ANNIVERSARY, WE WOULD LIKE TO THANK OUR STAFF, OUR PARTNERS AND ABOVE ALL, OUR CUSTOMERS FOR THEIR CONTINUED SUPPORT. o com Gateway Logistics Pte Ltd IQ Logistics !fc 'Como promesaADAMPAK ADAMPAK LIMITED
      107 words
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      329 4 WasteMETAsia 2012 Asia’s International Waste Management Environmental Technology Exhibition and Conference 1-4 July 2012 Sands Expo Convention Center Marina Bay Sands, Singapore, HALL A v m i Join us at WasteMET Asia Asia's Only Business Trading Platform for Solid Waste Management, Recycling Resource Recovery Solutions 0 0 ki r. pvi
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      152 4 Thomasville WHERE STYLE LIVES™ Since 1904 PRESENTS A Century of American Furniture Making > DINING ROOM Collection: Studio455 Rectangular Table 4 Side Chairs 2 Arm Chairs 3,990 1 r LIVING ROOM Collection: Bradley 3+2+1 Sofa (Full Cowhide Leather) 4,980 BED ROOM Collection: Affinia Queen Size Bed 2 Night Stands 3,500
      152 words
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  • COMPANY NEWS
    • Article
      Lock icon Focus on long-term prize as Greek drama unfolds
      560 5  -  Investors advised to pick up value that can pay off when the storm passes By KENNETH LIM LOAD UP on cheap supplies for the long term and batten down the hatches for the short term as the Greek electoral storm makes landfall
      560 words
    • Article
      Lock icon Maxi-Cash IPO priced at 30 cents a share
      686 5  -  First pawnbroker to seek an IPO in Singapore By CAI HAOXIANG PAWNBROKER Maxi-Cash Financial Services Corporation Ltd usually gives cash to the public in exchange for jewellery and watches. Now, it is asking the public for cash instead. The launch of its
      686 words
    • Article, Illustration
      Lock icon Mary, Mary, quite contrary
      742 7  -  HOCK LOCK SIEW By EMILYN YAP THE beauty industry is booming but business has been less than pretty for Mary Chia Holdings, a Catalist-listed facial, slimming and spa services provider. Despite making a revenue of $17.8 million for the 15 months ended March 31, Mary Chia
      742 words
    • Article, Illustration
      Lock icon Investors drawn to S-E Asian share offerings
      636 7 Felda Global, IHH IPOs coming amid optimism Bloomberg [SINGAPORE] South-east Asia is weathering a slump in initial share sales better than markets including Hong Kong, as optimism about the region’s economic outlook draws investors to offerings in Malaysia, Thailand and the Philippines. Felda
      Bloomberg; BLOOMBERG  -  636 words
    • Article
      Lock icon Sports Toto trust eyes KL secondary listing
      437 8 Plan is to list trust in Singapore, then in Malaysia, says Berjaya official [KUALA LUMPUR] Sports Toto Malaysia Trust (STM Trust) will have a secondary listing on Bursa Malaysia following its planned listing in Singapore, according to a senior official of Berjaya Group
      437 words
    • Article, Illustration
      Lock icon Packer said to be eyeing deal with Genting on Echo
      602 8 He may offer Genting potential entry into Macau: analysts Reuters [MELBOURNE] Billionaire James Packer would be open to an alliance with Singapore casino operator Genting to further his ambitions in Australia, where he is trying to wrest control of rival
      Reuters; BLOOMBERG  -  602 words
    • COMPANY BRIEFS
      • Article
        Lock icon Kreuz bags contracts worth US$142m
        61 8 Reuters SINGAPORE’S oil and gas services provider Kreuz Holdings Ltd has won a series of contracts worth about US$142 million. The contracts are from parent Swiber Holdings Ltd for subsea installation works and an unnamed third-party for remotely operated vehicle services. The work is expected
        Reuters  -  61 words
      • Article
        Lock icon GLP’s unit secures its largest lease by value
        69 8 GLOBAL Logistic Properties said that Beijing Aviation Ground Service Co Ltd has signed a 20-year lease with its subsidiary Airport City Development. The lease of 60,000 sq m of facilities at the bonded air terminal warehouse at Beijing Capital International Airport carries
        69 words
      • Article
        Lock icon Lantrovision proposes special dividend, share consolidation
        64 8 LANTROVISION (S) Ltd has proposed a special dividend of one cent per share, and a consolidation of every 100 shares into one share. After the share consolidation is complete, Lantrovision intends to have a rights issue where every one consolidated share will be eligible
        64 words
      • Article
        Lock icon Radiance expects significant H1 revenue, profit fall
        47 8 RADIANCE Group is expecting revenue and earnings to decline significantly in H1 FY2012 from a year earlier. It said there has been an absence of new sizeable contracts such as the significant one-off contract manufacturing project recorded during H1 FY2011.
        47 words
      • Article
        Lock icon Sound Global to build wastewater plant in Fujian
        79 8 SOUND Global has won the bid to construct a wastewater treatment plant in the Quangang Petrochemical Industrial Zone in China’s Fujian Province. The first phase of construction will involve an investment of 133 million yuan (S$26.8 million), to process 25,000 tonnes of
        79 words
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      1184 5 /Ws' V X fir X ■*N Ph w iflf > V- L- \j f V fe 5 4n i LA V More rewards await new HSBC customers There is no better time than now to start a relationship with us by placing a time deposit. Sign up today and earn
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Banks’ gains help STI rise further
      617 6  -  Turnover regains $1b mark in volatile trading but broad market stays weak STOCKS R SIVANITHY Senior Correspondent THE Straits Times Index (STI) had a volatile session yesterday as traders tried to anticipate movements in Western markets ahead of this Sund a y s e
      Source: Bloomberg  -  617 words
    • Article, Illustration
      Lock icon BROKERS’ TAKE
      869 6  -  Compiled by Jamie Lee Olam International June 12, close: $1.805 Citi Investment Research, June 11 OLAM has commenced a share buyback programme: Last Friday, Olam started a share buyback programme with 3.1 million shares purchased ($5.2 million worth). This comes under its share buyback mandate renewed at its
      Source: Bloomberg  -  869 words
    • Article, Illustration
      Lock icon Euro volatile, vulnerable to Greek elections
      624 6 CURRENCIES Reuters [LONDON] The euro was choppy yesterday, with many investors selling the common currency at higher levels as concerns over Spain’s bank bailout deal lingered and most gearing up for more uncertainty after Greek elections this Sunday. Traders said that buying by Middle
      Reuters; BLOOMBERG  -  624 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      65 6 Jun 12 VALUE CLOSE BT OB/OS -328.00-188.00 BT CADI -*****.00 -33.00 BT 10-day MA -*****.00 -33.00 FTSE ST Mid Cap 647.03 +1.65 FTSE ST Small Cap 425.07 +0.74 FTSE ST All Share 676.51 +2.10 FTSE ST China Top 189.90 -0.32 FTSE ST China 213.79 +0.06 FTSE ST
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 5 4 0 0 0 6 5 4 Manufacturing 27 51 39 4 4 5 31 55 44 Commerce 10 16 21 2 3 1 12 19 22 Tpt/Stor/Comms 16 17 5
      186 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      120 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 16,329 16,329 87,367 87,367 Manufacturing 375,077 42,011 417,088 160,312 1,722 162,034 Commerce 186,592 5,542 192,134 175,687 242 175,929 Tpt/Stor/Comms 71,648 6,560 78,208 122,140 1,596 123,736 Finance 13,062 13,062 112,076 112,076 Construction 152,081 9,141 161,222 11,450
      120 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      113 6 Stock name Close Change CapMallsAsia 1.440 +0.020 CapitaLand 2.730 +0.050 CapitaMall 1.800 CityDev 10.130 +0.130 ComfortDelGro 1.465 +0.005 DBS Grp 13.360 +0.120 F&N 6.640 +0.020 GLP 2.070 -0.050 Genting SP 1.460 -0.010 Golden Agri 0.630 +0.010 HK Land 5.560 +0.080 JMH 48.910 -1.090 JSH 30.810 -0.590
      113 words
    • Article
      Lock icon MOST ACTIVE STOCKS
      56 6 VOLUME ChinaTaisan 193,423,000 UniFiber 130,286,000 Golden Agri 77,545,000 Teledata R 67,845,000 Noble Grp 64,392,000 Genting SP 39,333,000 Olam 37,492,000 China Powerpl 35,000,000 GSH Corp 30,328,000 Elektromotive 22,837,000 VALUE($) Noble Grp 73,848,920 Olam 66,568,395 SingTel 62,574,050 Genting SP 57,221,715 Keppel Corp 57,104,340 CapitaLand 50,684,840 Golden Agri 48,009,845 GLP
      56 words
    • Article
      Lock icon RISES
      115 6 BY CENTS CLOSE UP IS MS India 100US$ 532 145.1 27.0 DBXT S&P Short 10US$ 3897 89.9 1.8 Jardine C&C 4342 32.0 0.7 Lyxor Asia EX 10US$ 385 24.4 5.2 UOB 5.05%NCPS 100 ***** 20.0 0.2 UOB 1789 19.0 1.1 Lyxor LatinAmerica 1 676 18.0 2.1 Capitaland.ES.1206 275 16.0
      115 words
    • Article
      Lock icon FALLS
      127 6 BY CENTS CLOSE DOWN JMH 4891 -139.9 -2.2 DBXT SPASX200 10US$ 3071 -84.7 -2.1 JSH 3081 -75.8 -1.9 DBXT FTChina25 10US$ 2447 -55.2 -1.7 DBXT STGLDv100 10US$ 2629 -55.2 -1.6 DBXT FTVietnam 10US$ 2368 -43.7 -1.4 GLD 10US$ ***** -28.3 -0.1 CIMBAsean40 100US$ 962 -24.4 -1.9 DBXT MSTaiwan 10US$
      127 words
    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 6 DAILY
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      813 7 DHL 40TH ANNIVERSARY DELIVERING 40 YEARS OF EXCELLENCE IN SINGAPORE AWARDS ACCOLADES 1998 First air express company in Singapore to receive the Trade Development Board's (now IE Singapore) 'Innovative Application of Information Technology' Award First air express company in Singapore to be admitted into the Singapore Quality Class by the
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      201 8 S Foreign Investment Law ■S Condominium Law •S Legal Aspects ■S Investment Update ■S Foreign Exchange 6 th Myanmar Business Conference 2012 Hear From Officials Opportunities Urban Redevelopment Telecommunication Shipyard/Ship Building Hotel Tourism Oil Gas Port Development Trade policy Property Development Investment 16 17 July 2012, Hilton Hotel, Singapore Conference
      201 words
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  • SINGAPORE NEWS
    • Article
      Lock icon Religious bodies get URA breather on space
      982 9  -  They have 3 years to comply with new guidelines on use of industrial premises By LIM WEI SHENG THE Urban Redevelopment Authority (URA) yesterday gave religious organisations operating out of industrial premises a three-year breather to comply with new guidelines for the “limited
      982 words
    • Article
      Lock icon S’pore seeks exemption from US oil sanctions
      615 9  -  By RONNIE LIM SINGAPORE which is not a major consumer of Iranian oil, with the latter accounting for only 1 per cent of the Republic’s crude imports is in talks with the US to seek an exemption from new sanctions starting next month,
      615 words
    • Article
      Lock icon S’pore is 6th most costly city for expats
      618 10  -  City moved up two places; rise is due to appreciation of S$ against US$: Mercer By WANG XIN MIN SINGAPORE is the sixth most expensive city in the world for expatriates, thanks to a stronger currency. The city moved up two places
      618 words
    • Article
      Lock icon CDL makes top bid for Buangkok condo plot
      575 10  -  Its $508.22 psf ppr bid beats $320-$500 psf ppr forecasts By KALPANA RASHIWALA THE state tender for a 99-year-leasehold private condo plot about 100m from Buangkok MRT Station has fetched a top bid above expectations. However, a participation rate of just five
      575 words
    • SINGAPORE ROUNDUP
      • Article
        Lock icon IME, Rolls-Royce in tie-up
        75 10 A-STAR’S Institute of Microelectronics is tying up with Rolls-Royce to develop gallium nitrate power devices for high-power density converters. While the technology is not new, the move towards high-voltage power electronics (600V to 900V) is. Rolls-Royce is engaged with IME to see if the technology can
        75 words
      • Article
        Lock icon SPH branding, value go up
        102 10 SINGAPORE Press Holdings has moved up five places to be ranked 13th in Brand Finance’s annual “Top 100 Singapore Brands” league table this year. With a brand value of US$895 million, it is also among the top risers in brand value, which increased US$338 million
        102 words
      • Article
        Lock icon ACRA recognises UniSIM degree
        74 10 SIM University (UniSIM) said its bachelor of accountancy degree (BACC) is now recognised by the Accounting and Corporate Regulatory Authority. This means graduates from UniSIM’s BACC programme will have satisfied the qualification requirement which is the first step towards registration as a public accountant. Graduates of
        74 words
    • Article
      Lock icon Surbana ties up with Mitsubishi Estate for Chengdu project
      320 10  -  By MICHELLE TAN SURBANA Corporation has inked a joint venture agreement with Japan’s largest listed real estate company, Mitsubishi Estate Co Ltd (MEC), to jointly develop a residential site in Chengdu, China. Strategically located in the Swan Lake Area within Longquanyi
      320 words
    • Article, Illustration
      Lock icon New $15m facility at NUS graphene centre
      454 10  -  By RACHEL AU-YONG A $15 MILLION micro and nano fabrication biomedical facility, the first of its kind in Asia, was yesterday unveiled at the National University of Singapore (NUS). Dedicated to graphene research, currently the focus of medical research around the world as
      454 words
    • Article
      Lock icon Over 1,200 exhibitors at CommunicAsia2012
      303 10  -  By TIMOTHY LOH SOME 53,000 ICT professionals from 48 countries are expected at CommunicAsia2012 and EnterpriseIT2012 at Marina Bay Sands. BroadcastAsia2012, which focuses on the broadcasting market, will take place concurrently from June 19 to 22 at Suntec Singapore. Event organiser Singapore Exhibition Services (SES)
      303 words
    • Article
      Lock icon Ad spending to grow by at least 5.8%: report
      553 10  -  By AUDREY TAN ADVERTISERS take note: entertainment and media compound annual growth rates (CAGR) in Singapore are rising, and are expected to do so by at least 5.8 per cent for the next five years. According to PricewaterhouseCoopers (PwC)’s annual Global
      553 words
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      190 9 Re nt BotanicarGardens Exclusive: Land 8,000 sq7ft: Built in® Exquisitely bedrooms.+‘Patio.+.Pt?Pool 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, Sel, or Rent h. TK I i 1 7 '> y~v i\
      190 words
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon Hiring prospects perk up a tad in major economies
      573 11 But firms are adding staff only when they see a rebound in business demand Reuters [NEW YORK] Hiring prospects have improved slightly in the US and other major economies but companies are only adding workers when they have to, according to
      Reuters; REUTERS  -  573 words
    • Article
      Lock icon There’s some logic to Obama’s gaffe
      455 11 His ‘private sector is doing fine’ comment focuses on jobs created in last 2 yrs Reuters [WASHINGTON] For anyone puzzled by President Barack Obama’s comment last week that the private sector is “doing fine”, it might help to put on his administration’s blinders and
      Reuters  -  455 words
    • Article
      Lock icon Aussie business conditions slump to 3-year low
      500 11 Reuters Bloomberg [SYDNEY] Australian business conditions were the worst in three years in May as concerns about the EU debt crisis and global growth outlook took a heavy toll on confidence, an industry survey showed on yesterday. National Australia Bank’s monthly survey suggested
      Reuters; Bloomberg  -  500 words
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      107 11 A NEWWAVE OF FOOD AND HOSPITALITY SERVICE The Argentum Group is a privately-owned vertically-integrated hospitality group based in Singapore that operates businesses in Retail F&B, Corporate Food Service, Catering, Distribution, Manufacturing/Wholesale, Hospitality Education and Hospitality Services. We are aggressively expanding and looking for more opportunities in Retail F&B, Corporate Food
      107 words
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon April industrial output in M’sia up a healthy 3.2%
      553 12  -  Manufacturing and power lead growth; exports stay flat for 2nd straight month By S JAYASANKARAN Kuala in Kuala Lumpur MALAYSIA’S domestic demand continues to buoy the economy despite continued weakness in export growth. In April, industrial production expanded at a surprisingly
      553 words
    • Article
      Lock icon Tokyo urges Jakarta to lift curbs on nickel exports
      279 12 Bloomberg [TOKYO] Japan, the world’s second-largest nickel user, called for Indonesia to remove restrictions on ore exports, saying it may complain to the World Trade Organization should compromise talks fail. “The country’s unilateral measures aren’t appropriate,” Takayuki Ueda, director general of
      Bloomberg  -  279 words
    • Article, Illustration
      Lock icon BI keeps policy rate steady, flags growth risk
      590 12 Reuters [JAKARTA] Indonesia’s central bank kept its policy rate at a record low of 5.75 per cent yesterday for a fourth straight month as expected, while flagging external risks to growth in the G-20 member because of the eurozone crisis and slowing
      Reuters; BLOOMBERG  -  590 words
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      184 12 JACKPOT Estimated Draw on Thu, 14 lun 2012 at 6.30pm For details, visit www.singaporepools.com.sg Ip l_ ,A Vri) Always play with care. [responsibly) Do not bet illegally. RGB Reg No: *****0202G Towards Community Purpose and Benefit SINGAPORE m POOLS Super-sized Bak Chang Returns with Savoury Punch 8 to 23 June
      184 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon Poor industrial output data sparks rate cut calls
      637 13 But Indian central bank faces tough choice as any cut may spur inflation Reuters [NEW DELHI] India’s industrial output growth flatlined in April, piling pressure on the central bank to cut rates and highlighting economic fragility after a warning that the BRIC
      Reuters; AFP  -  637 words
    • Article, Illustration
      Lock icon Reforms needed for renminbi to be global reserve currency
      668 13  -  They include having deep, liquid financial market: forum By LYNETTE KHOO SEVERAL reforms in China’s financial market have to take place before the renminbi can become a global reserve currency, experts say. For now, the Chinese currency is having its wings
      668 words
    • Article
      Lock icon Dim Sum bond sales in HK by policy banks up 187%
      422 13 Bloomberg [SINGAPORE] Sales of yuan-denominated bonds in Hong Kong by China’s policy banks jumped 187 per cent this year as the government moves to arrest stalling growth and the lenders seek funds to help boost exports. China Development Bank
      Bloomberg  -  422 words
    • Article
      Lock icon China’s corporate bond market set for takeoff
      710 13 CSRC moves to open capital markets to foreign investors Bloomberg [BEIJING] China is the opposite of other major economies when it comes to companies’ ability to raise money by issuing bonds. China’s 4.2 trillion yuan (S$829 billion) corporate bond market is just 9
      Bloomberg  -  710 words
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      961 13 »AT>i NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices 1 1 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF RAMSAI INVESTMENT PTE. LTD. (In Members’ Voluntary Liquidation) (Company Registration No. *****1884C At an Extraordinary General Meeting of the Company deemed to be held at Landstrasse
      961 words
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  • WORLD
    • Article
      Lock icon More EU consistency urged in enforcing Basel rules
      596 14 Regulators see weaker national implementation in some key areas Reuters [LONDON] Global bank regulators warned the European Union (EU) it risked watering down agreed bank capital rules designed to avert another financial crisis and called for more consistency in implementing the regulations.
      Reuters  -  596 words
    • Article, Illustration
      Lock icon Confusion and panic over UK visa changes
      728 14 Business confidence seen reduced amid complex policies Bloomberg [LONDON] UK lawyers are fielding a flood of questions from multinational firms as a government shake-up of visa rules threatens to cut short the careers of top traders and other executives transferred from overseas. Changes
      Bloomberg; REUTERS  -  728 words
    • Article
      Lock icon City job seekers down 58% in May
      266 14 Bloomberg [LONDON] The number of people seeking jobs at London financial services companies fell 58 per cent in May as the euro area debt crisis and the UK economy undermined employment prospects, according to a survey. The job seekers in London’s main financial
      Bloomberg  -  266 words
    • Article
      Lock icon It’s Beijing, not HK, for Goldman’s top Asia-Pac exec
      506 14 Reuters [HONG KONG] Goldman Sachs yesterday said that Mark Schwartz will take on the role of chairman of its Asia-Pacific unit, based in Beijing, becoming the first global investment bank to place its top regional banker in China’s capital. Mr Schwartz’s
      Reuters  -  506 words
    • Article, Illustration
      Lock icon US cabinet minister on medical leave
      509 14 Reuters [WASHINGTON] US Commerce Secretary John Bryson, under investigation for his role in two car crashes in California over the weekend that aides linked to a seizure, said on Monday he will take an immediate medical leave of absence. Neither Mr Bryson, 68, nor
      Reuters  -  509 words
    • Article, Illustration
      Lock icon Prices of goods imports down the most in 2 years
      525 15 One per cent fall in import-price index follows unchanged reading in April LATEST US DATA Bloomberg [WASHINGTON] Prices of goods imported into the United States fell in May by the most in almost two years, reflecting lower costs for fuel
      Bloomberg; AP  -  525 words
    • Article
      Lock icon Spain borrowing rate at euro-era high
      386 15 10-year bond yield at 6.81 after Fitch downgrade of banks AP AFP Bloomberg [MADRID] Spain’s benchmark borrowing rate hit its highest since the country joined the euro currency after Fitch credit ratings agency downgraded 18 domestic banks yesterday. Spain’s 10-year bond yield rose to
      AP; AFP; Bloomberg  -  386 words
    • Article, Illustration
      Lock icon Apple takes on Google with own maps, better Siri
      660 15 Reuters [SAN FRANCISCO] Apple took the wraps off its own mobile mapping service and improved the search capabilities of its Siri voice assistant, taking the fight into Google’s domain. CEO Tim Cook, who took over from late co-founder Steve Jobs last
      Reuters; REUTERS  -  660 words
    • Article
      Lock icon Greece unblocks funds to ease energy crisis
      275 15 Reuters [ATHENS] Greece plan to release 40 million euros (S$64 million) in emergency funds to help avert a looming power crisis, a court official said yesterday. Over the past two weeks, Greek energy companies have been in a frantic scramble for cash to
      Reuters  -  275 words
    • Article
      Lock icon Economic crisis wipes out 20 years of US prosperity
      766 18 Home prices directly account for three quarters of loss for median American family in 2010 NYT [WASHINGTON] The recent economic crisis left the median US family in 2010 with no more wealth than in the early 1990s, erasing almost two decades
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    • Article
      Lock icon US water firms struggling to upkeep infrastructure: poll
      515 18 70% either lacks the funds or have just enough Reuters [WASHINGTON] With US water bills on the rise even as consumers are being urged to use less, more than 70 per cent of water companies either lack the funds to maintain ageing
      Reuters  -  515 words
    • Article, Illustration
      Lock icon Asian Americans held back by ‘bamboo ceiling’
      715 18 83% feel loyal to their company, 49% feel they belong AFP [NEW YORK] Asian American families churn out doctors, engineers and graduate students, but their high-achieving image hides a “bamboo ceiling” that marginalises the fastest growing US minority, experts say. Jonathan Saw, Asia
      AFP; REUTERS  -  715 words
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      Lock icon SEC could come down hard on JPMorgan
      839 18 Key question is whether bank should have disclosed risk model change earlier ANALYSIS Reuters [WASHINGTON] JPMorgan Chase’s failure to timely disclose a major change in how it measured risk could become the centrepiece for an enforcement action by US securities regulators as they
      Reuters; AP  -  839 words
    • Article
      Lock icon Spending on lobbyists, gifts linked to poor market performance
      368 18 Reuters [WASHINGTON] Despite a popular belief that spending on lobbyists and political gifts yields fat dividends for business, a study has found just the opposite that in general, higher corporate spending in Washington is linked to worse market performance. Researchers from
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      1832 15 'St WATS NOTICES Nico Steel Solutions NICO STEEL HOLDINGS LIMITED (Incorporated in the Republic of Singapore) Company Registration No: *****4166D NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Eleventh Annual General Meeting of the Company will be held at Chancery Room (503), level 5, RELC International Hotel,
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      193 16 / 17 I y. 4 > \\\\V v k Sl\y™?\ v > vA d V Rafael Nadal Record 7th Title RICHARD IVIILLE A RACING MACHINE ON THE WRIST r ich s V s y r A> Q ■irH^ ■v 'ft 1 RICHARD MILLE CALIBER RM 035 RAFAEL NADAL CHR0N0FIABLE® CERTIFIED Skeletonized manual
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  • Transport HUB
    • Article, Illustration
      Lock icon Singapore ship sale form usage hits century mark
      543 19  -  The SSF reaches important milestone with more than 100 transactions By LYNN KAN THE Singapore Ship Sale Form (SSF) has sailed past the 100 transactions mark since its launch in January 2011, an “important milestone” for the form. High-profile shipping companies from
      543 words
    • Article
      Lock icon Japan prepares to provide cover for Iran oil imports
      441 19 Reuters [TOKYO] Japan’s government submitted a special bill to parliament on Monday to allow it to provide insurance for Iranian crude imports, making it the first country to attempt to initiate sovereign cover once EU sanctions on Iran start in July.
      Reuters  -  441 words
    • Article
      Lock icon TRANSPORT STOCKS
      257 19 SGX '000 Jun 12 S$ +/-Vol CH Offshore 0.42 0.01 99 Chuan Hup Hldg 0.22 0.01 175 Cosco Corp 1.02 -0.01 4637 s$ Ezra Hldgs 0.95 0.02 4662 First Ship Lea 0.17 unch 125 Freight Links 0.06 unch 365 Grand Banks unch unch 0 Jaya Hold Ltd 0.55
      257 words
    • Article
      Lock icon Tanker rates on Asian routes could hit year’s low this week
      309 19 Supply of vessels three times higher than demand Reuters [SINGAPORE] Rates for dirty tankers on key Asian freight routes are expected to decline this week to the year’s lows, with availability of vessels in the Middle East three times
      Reuters  -  309 words
    • Article
      Lock icon A dispute that is all froth
      821 19  -  STRAIT TALK By DAVID HUGHES A FEW weeks ago, the big marine mutual liability insurer, the UK P&I Club, issued a bulletin to its members with the heading: “Bulletin 826 05/ 12 Cappuccino Bunkers Singapore” Not surprisingly, this was quickly picked up by the
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    • Article
      Lock icon Seadrill set for three straight years of record profits
      616 19 Bloomberg [LONDON] John Fredriksen’s US$3.6 billion bet that ever-greater demand for crude oil will be met from reserves buried deep under the ocean surface is poised to reap at least three years of record profits for his company, Seadrill Ltd. The
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    • TRANSPORT HUB: AVIATION
      • Article, Illustration
        Lock icon Joyce: Regulators must let airlines consolidate
        373 20  -  He can’t rule out possible casualties if a deep, long global recession hits home By VEN SREENIVASAN in Beijing THE global airline industry needs to consolidate and regulators have to allow this to happen, said Qantas chief Alan Joyce yesterday, as he took up
        373 words
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        Lock icon Boeing targets 1,000 plane orders
        611 20 It expects to unveil big orders at July’s Farnborough show Reuters [BEIJING] Boeing reeled off targets including an unusual pledge to sell 1,000 jets this year putting it on course to recover leadership of the US$100 billion global jet market amid growing tensions with its
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      • Article
        Lock icon Berkshire’s NetJets makes US$9.6b private jet order
        388 20 Bloomberg [DALLAS] Warren Buffett’s Berkshire Hathaway Inc jumped into the slumping private-jet market again with a record order valued at US$9.6 billion, betting on a rebound later this decade with a third plane purchase in less than two years. Buying as many as
        Bloomberg  -  388 words
      • Article
        Lock icon Qantas hires Macquarie for takeover defence
        561 20 Bloomberg [SYDNEY] Qantas Airways Ltd, which lost A$1 billion (S$1.3 billion) in market value last week, appointed Macquarie Group Ltd and set up an internal team to ward off potential bids for Australia’s largest carrier. Shares of the carrier jumped 11 per cent, the
        Bloomberg  -  561 words
      • Article
        Lock icon Eurozone crisis dents BAA airport traffic numbers
        353 20 Reuters [LONDON] British airports operator BAA said the eurozone crisis had dented traffic numbers from UK airports to Greece, Spain and other European countries suffering worsening economic conditions. The owner of London Heathrow Europe’s busiest airport yesterday said passenger numbers between Heathrow and
        Reuters  -  353 words
    • TRANSPORT HUB: LAND
      • Article
        Lock icon Motor insurers’ profits continue into first quarter
        424 21  -  Sector posts 234% jump to $11.9m; gross premiums up 3.7% at $372.2m By SAMUEL EE THE first quarter of 2012 has ended with more good news for the motor insurance industry. According to the General Insurance Association of Singapore (GIA), underwriting profit in
        424 words
      • Article
        Lock icon Saab brand said to be final hurdle in bankruptcy sale
        301 21 Bloomberg [STOCKHOLM] The right to use the Saab brand name is the last major hurdle in the sale of bankrupt Saab Automobile to a group led by a Japanese investment firm and a Chinese energy company, two people familiar with
        Bloomberg  -  301 words
      • Article, Illustration
        Lock icon China car prices down the most in 2 years
        458 21 Average retail prices in May slip 1.1% from April Bloomberg [BEIJING] China passen-ger-vehicle prices fell the most in about two years because of a worsening glut at auto dealerships, the nation’s top economic planning agency said. Average retail prices in May
        Bloomberg; REUTERS  -  458 words
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      96 19 RoyalCaribbean Legend of the Seas mm <8 2- WEEKEND MALACCA CRUISE Singapore Departure: Nov 3 Ports-of-call: Singapore, Malacca 3- BEST OF MALAYSIA CRUISE Singapore Departures: Oct 31, Nov 9,16,23,30, Dec 7,14,26 Ports-of-call: Singapore, Malacca, Penang 4- ISLES OF SOUTHEAST ASIA CRUISE Singapore Departures: Nov 05,19,26, Dec 3,10,17,21 &29 Ports-of-call: Singapore,
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      75 19 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 is the proud winner of
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      109 20 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 QR
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      7 20 u. An event of Social* edla testa
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  • Page 20 Miscellaneous
    • Miscellaneous
      Lock icon Page 20 Miscellaneous Column 1
      348 20 CRYPTIC CROSSWORD Across 1 They would be very different from carping, yes? (10) 6 Impure stuff about to be got hold of by tot (4) 9 Youngster with a smell collecting handout (10) 10 Sign this writer on to go to extremes (4) 12 Superior map produced by duke to
      348 words
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      119 21 This Ride Will Go A Long Way 4 a New CC Want to own this car and also do your bit to help the community? Then bid for this Volkswagen CC 1.8 TSI. Proceeds from the auction will go to a fund that will provide one-year's worth of free copies
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  • EDITORIAL & OPINION
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      Lock icon After the ‘Spailout’, reality dawns
      509 22 EDITORIAL THE short-lived euphoria that followed the bailout of Spanish banks by the eurozone is yet another reminder that ad hoc rescues of individual countries, or their banks, will not be sufficient to restore confidence in the eurozone. A more systemic solution is needed. The
      509 words
    • Article, Illustration
      Lock icon Obama on the defensive as economic debate heats up
      761 22  -  THE BOTTOM LINE LEON HADAR Washington Correspondent IN recent days, Washington has experienced one of those familiar inside-the-beltway political flare-ups that seem to preoccupy the professional pundits more than it does the general public. Responding to the bad news on the
      761 words
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      Lock icon Asia’s safety net CMIM unusable in present form
      1022 22  -  It has no fund, surveillance and conditionality mechanisms, and rapid-response procedures By HAL HILL YANT MENON The writers are respectively HW Arndt professor of Southeast Asian Economies, Australian National University, and lead economist at the office for regional economic integration, Asian Development
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    • Article, Illustration
      Lock icon Why the euro will survive
      1643 23  -  With low public debt and deficit, and limited fiscal problem, the eurozone pips US, UK and Japan economically By JOERGEN OERSTROEM MOELLER The writer is visiting senior research fellow, Institute of Southeast Asian Studies, Singapore and adjunct professor, Singapore Management University Copenhagen Business School THE
      AP  -  1,643 words
    • Article
      Lock icon Grexit does not cure any of Greece’s underlying ailments
      791 23  -  By MORITZ KRAEMER The writer is head of EMEA sovereign ratings, Standard Poor’s Ratings Service ON June 17, Greece returns to the polls in another attempt to elect a viable government, with the outcome of the election remaining highly uncertain. Despite
      791 words
    • Article
      Lock icon SGX requires disclosure of funds raised from public
      250 23  -  LETTER TO THE EDITOR Mohamed Nasser Bin Ismail Head of Issuer Regulation Singapore Exchange WE wish to correct inaccuracies in the article, “Make it mandatory to account for funds raised from the public” (BT, June 8), which stated that there are no
      250 words
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      103 23 HAVE YOUR SAY Fax your letters to 6319-8277 or e-mail them to btletter@sph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      2748 24 Transaction date: Jun 12 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 113.5 -0.5 175 113.5 113 113 113.5 7.3 10.9
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      Lock icon SGX CATALIST
      183 25 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 4.6 1.3 t Advanced System 2 unch 200 2 2 1.9 2.1 26.5 Last Quote Div Gr Yld Net M Cap High Low
      183 words
    • Article
      Lock icon UNIT TRUSTS & FUNDS
      7966 25 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha FundCI A!** AXA Wealth Mgt S'pore Pte Ltd APS Alpha Fund (USD)!** Aberdeen Asset Mgt Asia Limited AXA Wealth Mgt S'pore Pte Ltd Aberdeen Asset Mgt Asia Limited Asian Local Cxy SD Bond ....1.0037/ EM Local Cty Bond
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    • Article
      Lock icon GLOBALQUOTE
      191 25 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 46 25.5 Genting HK US$ US33 -0.5 556 33 32.5 32.5 33 2172.9 201 168 TanChongInt HK183 -9 12 183 183 186 196 4.3 3.8 6.1 3685.4
      191 words
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      Lock icon SGX ETF
      876 25 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 103 95.8 CIMB APAC Div 100US$ US96 95.2 97.3 10.1 1261 856 CIMBAsean40 100US$ US962 -19 10 972 962 960 970 150.9 ***** ***** DBXT AUD
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX FUTURES
      626 26 Jun 12 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 8478.78 8575.87 8452.50 Sep12 8590.00 8605.00 8435.00 8535.00 ***** *****1 Dec12 8470.00 8470.00 8460.00 8475.00 401 5519 MSCI TAIWAN INDEX FUTURES SPOT 251.27 251.90 249.94 Jun12 252.90 253.70 248.40 249.70 ***** *****0 Jul12 246.80 247.30
      626 words
    • Article
      Lock icon CHICAGO BOT
      107 26 Jun 11 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 12 1424.75 1426.25 1445.50 1418.00 Aug 12 1399.00 1400.50 1418.75 1391.50 Sep 12 1361.00 1362.00 1377.50 1352.25 Nov 12 1331.25 1332.50 1349.25 1320.50 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 12 49.74
      107 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      76 26 CRUDE OIL PRODUCTS Jun 11 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 98.28 0.79 WTI (Near Mth) 81.94 -2.56 Dubai (1-Mth F) 97.55 2.57 Tapis blend 106.25 2.17 Minas 107.15 2.17 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 83.94 3.05 Jet Kerosene 113.88 2.87 US$/barrel OpecOil Basket
      76 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      22 26 Jun 12 S$ Bid Offer 1-month 1.2839 1.2847 2-months 1.2838 1.2847 3-months 1.2835 1.2843 6-months 1.2820 1.2830 Source: OCBC
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    • Article
      Lock icon LONDON METALS
      66 26 Jun 11 Jun 11 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1934.50 1948.00 3 months 1972.50 1985.00 Copper, Grade A(US$/tonne) Cash 7408.00 7283.00 3 months 7420.00 7295.00 Lead(US$/tonne) Cash 1900.50 1887.50 3 months 1914.00 1902.00 Nickel (US$/tonne) Cash *****.50 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.00 *****.00 3
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    • Article, Illustration
      Lock icon SMX MARKET UPDATE
      118 26 As on 11 June 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL INDIA GOLD (E-GOLD) FUT AUG2012 530.65 526.00 532.65 44 CURRENCY EUR-USD FUT JUN2012 1.2640 1.2503 1.2493 2636 BASE METAL COPPER FUT JUL2012 7438 7345 7372 4039 INDEX IRON ORE (MBIO) IDX
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 26 In local curr In S$ In US$ dy yr dy yr dy yr Jun 11 Index Change Change Change Change Change Change World Preliminary 844.8 0.1 1.8 0.0 -0.3 0.3 0.8 EAFE Preliminary 670.2 0.4 -1.8 0.6 -5.0 0.9 -4.0 Europe Preliminary 995.2 -0.1 -3.0
      373 words
    • Article
      Lock icon LIFFE
      80 26 Jun 11 COCOA (£/tonne) Close Prev High/Low Jul 12 1527 1530 1550/1525 Sep 12 1513 1521 1546/1511 Dec 12 1492 1502 1518/1490 Mar 13 1475 1480 1500/1473 COFFEE(US$/tonne) Close Prev High/Low Jul 12 2062 2074 2088/2053 Sep 12 2071 2078 2095/2058 Nov 12 2063 2072 2080/2052 Jan 13 2037
      80 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1296 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 4 1 146 329 8.75 23 Conv Ratio Baker Technology Ltd W*****6 1 -0.6 42 1 32 18 28.00 5 Price Best World Intl Ltd W*****5 0.6 1
      1,296 words
    • Article
      Lock icon INTERBANK CROSS RATES
      470 26 Jun 12 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.019 6.304 0.792 7.677 55.413 93.641 0.788 11.577 3.149 1.282 93.210 42.543 1.271 8.334 0.951 26.195 31.351 0.638 0.990 Canada 0.981 6.184
      470 words
    • Article
      Lock icon SIBOR
      58 26 Jun 12 (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$) 3 mths 0.***** 0.***** 0.***** SWAP Mid rates (S$) 0.***** SWAP Mid rates (S$) 1 yr 0.*****
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    • Article
      Lock icon PRECIOUS METALS
      134 26 Jun 12 GOLD(US$/oz) Jun 12 Jun 11 Hong Kong 1598.00 1607.00 Jun 11 Jun 11 Jun 08 London 1584.50 1586.01 1585.30 1586.78 CAST BAR Jun 12 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 158 66 5gm 448 328 10gm 801 657 20gm
      134 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      87 26 Jun 12 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 13-Sep-12 0.27 0.22 0.22 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-14 100.12 5-Year N*****0Z 2.375 01-Apr-17 108.75 1-Year 10-Year
      87 words
    • Article
      Lock icon PALM OIL
      57 26 Jun 12 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 12 2939.0 2960.0 2939.0 2900.0 55 935 Jul 12 2953.0 2989.0 2977.0 2950.0 905 ***** Aug 12 2963.0 2989.0 2985.0 2951.0 ***** ***** Sep 12 2966.0 2986.0
      57 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 26 Jun 12 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2704 1.2715 0.9895 0.9897 Canadian dollar 1.2461 1.2474 0.9706 0.9710 Euro 1.6040 1.6054 1.2493 1.2496 NZ dollar 0.9909 0.9917 0.7718 0.7719 Sterling pound 1.9907 1.9923 1.5505 1.5508
      154 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 26 As at 9am Jun 12 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.298 1.237 Can dollar 1.275 1.215 Euro 1.641 1.563 Sterling pound 2.026 1.949 NZ dollar 1.016 0.968 US dollar 1.305 1.255 Local dollars to 100 units of foreign
      121 words
    • Article
      Lock icon INTERBANK RATES
      154 26 Jun 12 $S Offer Bid 0vernight 0.04 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.01 US$ 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 1.00 0.80 12
      154 words
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  • Article
    Lock icon The Business Times Shipping times
    3508 27 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 TBN
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      47 27 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 Times
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      18 27 USE THIS SPACE TO SELL, CALL JOE WONG AT 9620 1327 TO ADVERTISE. _The Business Times Shipping Times
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      131 28 TO ADVERTISE IN .The Business Times Shipping Times CALL JOE WONG FREIGHT FORWARDER urgently needed by shippers I Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WO IMG AT 9620 1327 Announce Your Corporate Developments Come publicise your Corporate Developments, Corporate Image, Company Anniversaries,
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      10 29 HOTTEST HITS 91.3FM HEAR ADAM LAMBERT HOTTEST HITS ON 31.BFM
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      745 29 A Online Personal Trading Account for Spot FX CitiFX’Pro cffi Tailored Margin FX Solutions for qualifying and experienced Individuals. In Singapore, only accredited, institutional and expert investor will qualify. Award winning trading system CitiFX Pro features state-of-the-art technology based on our award-winning platforms with flexible pricing and institutional-level liquidity. Mobile
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      24 31 HERE NOW Australian House Land Earn18.8%+ ROI Subject to strategy selected www.smartroisolutions.com/bt +65 9727 9898 Ray International Real Estate Group INTERNATIONAL REAL ESTATE GROUP
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      Lock icon Page 31 Advertisements Column 2
      217 31 Until coach Wu Bin helped Jet Li become a martial arts icon, he would not rest. (Beijing, 1982.) I r i I u Ml I m- i mm i Y P9KE!i V it u ft A What can your client advisor learn about motivation from the man who trained Jet
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  • executive Money
    • Article, Illustration
      Lock icon Sanctuary for fund managers in Asia
      1133 32  -  Those struggling to raise capital are hired by global hedge funds such as Citadel and CQS, report BEI HU and TOMOKO YAMAZAKI reportBEI reportBEI HUandTOMOKO YAMAZAKI [HONG KONG] CITADEL LLC and CQS (UK) LLP are among global hedge funds providing refuge to managers in
      STOCK.XCHNG  -  1,133 words
    • EXECUTIVE MONEY
      • Article, Illustration
        Lock icon Fancy for collectibles on the rise
        846 29  -  In a volatile environment, millionaires are putting more of their fortunes into non-financial assets, reports BEN STEVERMAN reportsBEN reportsBEN STEVERMAN Bloomberg STOCK portfolios in recent years have provided scant comfort. All too often, those share prices on a computer screen who even has paper
        Bloomberg; AFP  -  846 words
      • Article, Illustration
        Lock icon China’s advantage over the US, Europe
        1344 30  -  Use of monetary and fiscal policy, and central govt control on timing of infrastructure spending can boost its growth readily MONEY MATTERS AARON GURWITZ The writer is chief investment officer, Barclays THE United States and the eurozone have been getting the lion’s share of
        Source: The World Bank, Bloomberg (*2012 is forecast)  -  1,344 words
      • Article, Illustration
        Lock icon Low bond yields echo Pimco’s ‘new normal’
        1556 31  -  Investment firm sees no bubble burst even as average yield on G-7 nations’ debt falls to record lows, report DANIEL KRUGER and ANCHALEE WORRACHATE reportDANIEL DANIEL KRUGER,ANCHALEE WORRACHATE Bloomberg [NEW YORK] MOHAMED El-Erian knows why bond markets from the United States to Germany
        Bloomberg; BLOOMBERG  -  1,556 words
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      121 32 m I a ■m hi v tf.s Tomorrow needs commitment am M '-V Mf® 3 R A-' V m tm a PE b?«3 A? 5® .-Tr R T ■V w*.' SA-v MS sgffi* a; 8fc4 TV.,^ a--,-T Our continuous commitment in Asia In addition to providing global investment solutions, our
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