The Business Times, 23 June 2012
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2012-06-23
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The Business Times
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Title Section14 2012-06-23 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g| JUNE 23-24, 2012 S$1.00| MICA (P) 121/08/201114 words
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Article, Illustration954 2012-06-23 1 Felda Chay - He introduced Reits and ECs to S’pore and stamped S’pore mark overseas By Felda Chay feldac@sph.com.sg Singapore LIEW Mun Leong, the 66-year-old straight-talking president and CEO of CapitaLand Group who proved his critics wrong by showing them that a bureaucrat can turn into a successfulARTHUR LEE - 954 words
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Article, Illustration549 2012-06-23 1 Michelle Tan - Many tout Lim Ming Yan as a strong CEO candidate By Michelle Tan michtyz@sph.com.sg Singapore AS CapitaLand started its hunt for a new chief executive officer, one name kept cropping up: that of chief operating officer (COO) Lim Ming Yan. It’s still early daysFILE PHOTO - 549 words
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Page 1 Advertisements
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Advertisement29 2012-06-23 1 the business www. usinesstimes.com. the raffles conversation MOHAMMED AL SHAIBANI, CEO, INVESTMENT CORP OF DUBAI 10-11 MOTORING The Bentley Continental GTV8 L19 LIVING New eateries with bold concepts L2-429 words
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Advertisement5 2012-06-23 1 WEALTH Health insurance analysed 30-315 words
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TOP STORIES
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MARKETS
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Article58 2012-06-23 2 HSTI 2,828.09 (-2.06) HSTI FUTURES 2,828.0 (-2.0) HSIMSCI 325.38 (-1.12) HSIMSCI FUTURES 325.10 (-1.60) Friday Change KL COMP 1,603.07 +1.64 NIKKEI 225 8,798.35 -25.72 HANG SENG 18,995.10 -269.94 SET 1,152.91 -6.14 JAKARTA 3,889.52 -12.27 MANILA 5,120.07 +10.64 KOSPI 1,847.39 -41.76 SHENZHEN B 636.86 -1.94 MUMBAI IND 16,972.50 -60.05 12noon58 words
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Article29 2012-06-23 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.447 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.52 INDIA 14.75 Source: Bloomberg29 words
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Article48 2012-06-23 2 us$ s$ US$ (S$ per US$) 1.278 (US$/S$ per 1.561 1.995 EURO(US$/S$/E) 1.253 1.602 Foreign currency per US$ S$ YEN 80.40 62.90 RM 3.191 2.496 HK$ 7.760 6.071 BAHT 31.81 24.88 RUPIAH 9,477 7,415 RENMINBI 6.365 4.980 INDIAN RUPEE 57.25 44.79 A$ 0.999 0.781 NZ$ 1.274 0.99748 words
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Article, Illustration910 2012-06-23 2 Neil Behrmann - While downgrades were expected, banks feel they have done better in past year By Neil Behrmann btworld@sph.com.sg London BANK shares rallied from their Thursday and Friday lows as the markets shrugged off credit rating downgrades of 15 major banks by Moody’s. The downgrades wereREUTERS - 910 words
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Article, Illustration610 2012-06-23 4 Ven Sreenivasan - Alan Joyce calls for Foreign Investment Review Board to limit scope of purchase By Ven Sreenivasan ven@sph.com.sg Singapore WHEN it rains, it pours and in the case of Qantas, the deluge is threatening to drown the airline. The Australian carrier is appealing againstBLOOMBERG - 610 words
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Article, Illustration646 2012-06-23 6 Grace Leong - US tycoon sues local dental clinic for negligence; dentist counterclaims defamation By Grace Leong gleong@sph.com.sg Singapore AMERICAN billionaire and investment guru Jim Rogers is armed to the teeth in a High Court fight over a dental job that allegedly rendered him, amongFILE PHOTO - 646 words
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263 2012-06-23 6 Siow Li Sen - It seeks feedback via consultation paper, given evolving market practices and accounting regulatory standards By Siow Li Sen lisen@sph.com.sg Singapore THE Monetary Authority of Singapore (MAS) is reviewing the risk-based capital framework for the insurance business to raise standards. It released a consultation paper263 words
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535 2012-06-23 6 Bloomberg Reuters Madrid FORMULA One chief executive officer Bernie Ecclestone doesn’t expect to be charged in a bribery case involving a US$44 million payment to a former banker, and the dispute won’t affect the sport’s planned initial public offering. Former Bayerische Landesbank chiefBloomberg; Reuters - 535 words
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Article, Illustration873 2012-06-23 8 Lee U-Wen - Adidas’s goal to be visible on world stage The German firm hopes all 22 players in Euro 2012 final will be wearing its logo By Lee U-Wen leeuwen@sph.com.sg Singapore SPAIN versus Germany. That was Ralph Kotterer’s immediate response to what his dream Euro 2012 final would be, even before this873 words
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Article, Illustration518 2012-06-23 8 Big 4 agree to mobilise 1% of EU’s GDP for the purpose Bloomberg AFP AP Rome GERMANY, Italy, France and Spain agreed to cooperate on a growth plan of as much as 130 billion euros (S$208 billion) for the 17-nation bloc. French PresidentBloomberg; AFP; AP - 518 words
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Article, Illustration859 2012-06-23 9 Audrey Tan - Consumers here are now favouring ‘free easy’ over standard package tours By Audrey Tan audreyt@sph.com.sg Singapore GENERAL sentiment in the travel industry here for the second half of this year is gloomy, and travel agents are gearing up for a rough patch ahead.FILE PHOTO - 859 words
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Article199 2012-06-23 9 Reuters Frankfurt THE European Central Bank is to start accepting a wider range of collateral in its lending operations and assets of a lower quality, it said yesterday, its second such move in six months to neutralise growing funding pressures on struggling banks. “The Governing CouncilReuters - 199 words
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Page 2 Advertisements
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Advertisement62 2012-06-23 2 CONTENTS NEWS Top Stories 2-9 Raffles Conversation 10-11 Week in Review 12 Companies 13-15 From The Desk Of 16 Singapore 17-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-35 Investing 32-33 House Hunt 34 Real Estate 34-35 LIVING Dining L2-4 Destination Dining L5-6 Shopping L7 Design L8-9 Home Garden62 words
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Page 3 Advertisements
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Advertisement57 2012-06-23 3 BV LGA R I m: o V Nl ttl .T •a. jS V SV^ I ■w c, IS1 LX *> BOUTIQUES TAKASHIMAYA DEPARTMENT STORE 65 6735 6689, HILTON HOTEL 65 6737 1652 THE SHOPPES AT MARINA BAY SANDS 65 6634 83 13 AUTHORIZED RETAILERS CORTINA WATCH DICKSON WATCH JEWELLERY SINCERE57 words
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Page 5 Advertisements
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Advertisement89 2012-06-23 5 &PSA The World's Port of Call ..Celebrating 10 YEARS Containerisation. of From Vision to Reality On this day forty years! ago, the arrival of the first! containership M.V. Nihon! marked the transformation! of the Port of Singapore into! today’s largest container! transhipment hub in the world.! m A SI ■>-89 words
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Page 7 Advertisements
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Advertisement294 2012-06-23 7 EMPTY4 MT4 DON’T TRADE ON EMPTY. TRADE MT4 WITH GFT. Our latest MetaTrader4 platform is our most advanced yet. Unlike most standard MT4 platforms, ours is packed full of innovative trading tools to give you more power and more flexibility. Combine this intuitive interface with our exceptional pricing, outstanding execution294 words
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Page 9 Advertisements
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Advertisement210 2012-06-23 9 w. QUEEN ELIZABETH li DIAMOND 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, JUBILEE available only in the month of June 2012. Join now and you could save up to $5,000. A once-in-a-lifetime210 words
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THE RAFFLES CONVERSATION
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Article, Illustration2147 2012-06-23 10 / 11 Kenneth Lim - Investment Corporation of Dubai CEO Mohammed Al Shaibani is focused on prolonging the Dubai miracle. By Kenneth Lim By Kenneth Lim kenlim@sph.com.sg MOHAMMEDAl Shaibani had been explaining the need for the Investment Corporation o f D u b a i (ICD) to exercise greater diligence in its investmentYEN MENG JIIN - 2,147 words
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WEEK IN REVIEW/WEEK AHEAD
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THIS WEEK June 18-22, 2012
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54 2012-06-23 12 SOME $1.1 billion of strata office properties were transacted in the first five months of this year, just shy of the $1.3 billion for the whole of last year, driven largely by liquidity, investors switching out of the residential sector, and developers minting strata54 words
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57 2012-06-23 12 THE two main contending parties in Greece’s election were in a dead heat, an exit poll showed, stoking concerns that another political stalemate will force the country out of the euro. As at press time, New Democracy had 27.5-30.5 per cent of the57 words
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61 2012-06-23 12 A EUROPEAN stock, bond and euro rally lasted less than two hours on Monday despite Greek election results that initially brought relief to the markets. As Greece’s successful New Democracy party leader Antonis Samaras pledged to move swiftly to form a coalition government61 words
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47 2012-06-23 12 THE Malaysian initial public offer- ing market has captured world attention with its trend-busting growth and volumes, but observers warn that the headline numbers could be distorted by heavy government involvement and a highly localised investor base.47 words
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44 2012-06-23 12 WATCH out, tablet world: Microsoft is targeting those who have had problems finding a “work” use for their iPads. It is offering a tablet which can run standard applications such as its own Office programs and Photoshop.44 words
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53 2012-06-23 12 THE heat will be turned up both for broadcasters and the Queens of Caldecott Hill when all seven of MediaCorp’s free-to-air TV channels go digital by end-2013. Analogue broadcasts will be switched off by 2020, in line with the timeframe set53 words
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62 2012-06-23 12 THERE is a changing of guard atop the wealth pole: Singapore now has more rich people than Hong Kong while the Asia-Pacific has more than North America. In fact, the Asia-Pacific region is home to the world’s largest population of high net62 words
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58 2012-06-23 12 INVESTMENT sales of property which cover big-ticket transactions have rebounded to about $6.4 billion in the second quarter as at June 19, according to preliminary figures from Savills Singapore. Such deals had taken a hit in the first quarter, when the figure dived to58 words
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Article, Illustration76 2012-06-23 12 A SENIOR official from the Ministry of Foreign Affairs has been suspended over allegations of improper claims for expenses incurred during overseas visits. Chief of protocol Lim Cheng Hoe was taken off all duties on Tuesday and is now under investigation by76 words
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49 2012-06-23 12 THE humble SMS might be under siege from mobile instant messaging services such as WhatsApp, but banks are holding the fort for traditional texting. OCBC Bank and DBS Bank alone send out two million and 1.8 million SMSes respectively to customers every month.49 words
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57 2012-06-23 12 WHAT started as a promising year for the Singapore dollar vis-a-vis the US dollar is turning into a period to forget. The Sing dollar appreciated steadily in the first four months, only to give up most of its gains as57 words
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Article67 2012-06-23 12 US DATA June 25 May new home sales June 26 June consumer confidence June 27 May durable goods orders June 28 Q1 GDP (third estimate) CHINA DATA June 29 MNI business sentiment survey SINGAPORE DATA June 25 May consumer price index June 26 May index67 words
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Page 12 Miscellaneous
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Miscellaneous358 2012-06-23 12 Across 1 Pub after pub is origin of man’s uncivilised behaviour (9) 9 Trial or trade? (6) 10 A resident’s behind with payment for property (9) 11 Strive for higher things a pinnacle (6) 12 French roll or short crop isn’t about sex appeal principally (9) 13 Cavort in cut-off358 words
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Miscellaneous13 2012-06-23 12 SATURDAY with Ludwig Isn’t it great I got this bottle at half price13 words
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COMPANIES
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Article, Illustration472 2012-06-23 13 April Chye - Firm says deal from Huawei is for a limited role relating to a SingTel copper-based network and is not a managed services contract By April Chye capril@sph.com.sg NTEGRATOR International Ltd has clarified an announcement that had earlier sent its shares shooting up. The clarification was472 words
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402 2012-06-23 13 Reuters Singapore A PLANNED $60 million reverse takeover (RTO) of Singapore bed linen maker Aussino Group may not materialise as the firm planning to inject assets into Aussino is linked to a Myanmar businessman on a US blacklist, bankers and lawyers saidReuters - 402 words
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642 2012-06-23 13 Lynette Khoo - Matters raised include CFOs doubling as chief risk officers By Lynette Khoo lynkhoo@sph.com.sg SHOULD chief financial officers (CFOs) double as chief risk officers (CROs)? And should CFOs go through a certification programme? These are among issues discussed by CFOs and directors in a lively642 words
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Article, Illustration504 2012-06-23 14 Cai Haoxiang - Stock of pawnbroker closes 30% up with 85 million shares totalling $32 million changing hands By Cai Haoxiang haoxiang@sph.com.sg SHARES in pawnbroker Maxi-Cash Financial Services Corporation, Singapore’s latest initial public offering (IPO), surged as much as a third in its first day of tradingFILE PHOTO - 504 words
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808 2012-06-23 14 IFR Singapore A SURGE in unrated bond issues from some of Hong Kong’s bestknown companies is calling into question the traditional relationship between issuers and rating agencies in the international debt markets. Almost a third of all US-dollar bonds that Hong Kong-listed companies haveIFR - 808 words
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Article, Illustration784 2012-06-23 15 R Sivanithy - ‘Buy in anticipation’ pushes STI up 82 points in four days STOCKS R Sivanithy sivan@sph.com.sg Senior correspondent TRADINGfundsfound themselves presented with a decent “buy in anticipation, sell on news” play that started just before the Greek elections of last weekend and ended after784 words
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550 2012-06-23 15 IFR London TOUGH capital markets, a savage recession, and banks’ unwillingness, or inability, to lend cheaply are providing the best chance in years for distressed debt funds focused on snapping up good companies with bad balance sheets to make stellar returns. The anticipated boomIFR - 550 words
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Page 14 Advertisements
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Advertisement11 2012-06-23 14 HOTTEST HITS HEAR MADONNA HOTTEST HITS DM 31 3 PM 91.3FM11 words
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Page 15 Advertisements
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Advertisement199 2012-06-23 15 WATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF VENTURE INVESTMENT (SINGAPORE) LTD. Company Registration No. *****5602Z (In Members’Voluntary Winding-Up) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50, that a Final Meeting of199 words
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Advertisement239 2012-06-23 15 IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF CAISHI CONSULTING PTE LTD (IN MEMBER’S VOLUNTARY LIQUIDATION) (Company Registration No. *****2049M) NOTICE IS HEREBY GIVEN that it was resolved at an Extraordinary General Meeting of member of the abovenamed company held on 21 June 2012,239 words
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FROM THE DESK OF
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Article, Illustration957 2012-06-23 16 Paul Bennett - Singapore is an ideal place to prototype ideas as it has all the ingredients to create a perfect learning-by-doing environment FROM THE DESK OF Paul Bennett Chief Creative Officer IDEO HAVE always loved Southwest Airlines iconic CEO Herb Kelleher’s famous quote: “Yes, we have a957 words
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SINGAPORE
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438 2012-06-23 17 Timothy Loh - Choo Chong Ngen, Della Lee, Oei Hong Leong and Christopher Wilson are the locals who made its list By Timothy Loh timloh@sph.com.sg FOUR philanthropists here have made it to Forbes Asia’s 5 th annual Heroes of Philanthropy list. The list, released on Wednesday, highlights the438 words
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Article, Illustration377 2012-06-23 17 Glenn Choo - By Glenn Choo gchoo@sph.com.sg CORPORATE social responsibility (CSR) takes on an added dimension at Cerebos Pacific, which has tied staff welfare with their contribution to charity. As part of Cerebos’s integrated wellness programme, its employees are allowed to leave work an hour earlier each377 words
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Briefing
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Article147 2012-06-23 17 CHANGI Airports International (CAI) has signed a joint-venture agreement with Russia’s Basic Element Group and Sberbank to invest in and develop airports in Russia. Basic Element, a diversified business group, will hold 50 per cent plus one share of the joint venture, while CAI will147 words
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Article79 2012-06-23 17 THE Singapore Academy of Law (SAL) is seeking a technology partner to provide electronic discovery (eDiscovery) services to law firms. Companies are invited to submit proposals for a programme. The successful service provider will be given a three-year contract starting from January 2013 to provide services79 words
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Article, Illustration845 2012-06-23 18 Lim Wei Sheng - Buddy Media expects to see the emergence of a sizeable market in mobile social applications By Lim Wei Sheng limwsg@sph.com.sg ANYONE who says that social media is a second-best substitute of digital proximity over geographical distance hasn’t thought of Singapore, as shown by845 words
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418 2012-06-23 18 Lynn Kan - By Lynn Kan lynnkan@sph.com.sg THE Circle Line’s direct current cables will be replaced in a project that will finish by end2015, following the discovery that cables with manufacturing defects were behind a train breakdown last September that affected 27,000 commuters.418 words
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Page 17 Advertisements
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Advertisement27 2012-06-23 17 V Warn T a/. LATITU D E*** (freehold condo for immediate occupation) xl Henson Pang V CEA Registration: R*****3A Viewing by Appt (Sole Agency): *****070 ERA L*****82K27 words
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WORLD
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Article, Illustration808 2012-06-23 19 Announced deals slip to just over US$1 trillion as economic uncertainty tempers expansion plans Reuters New York MERGERS and acquisitions (M&A) activity fell 25 per cent worldwide in the first half of 2012 as global economic uncertainty reined in companies’ expansion plans andReuters; REUTERS - 808 words
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625 2012-06-23 19 Reuters New York WEAKENING business activity worldwide is hitting US companies where it hurts, with more of them signalling disappointing results than at any time over the past decade. Many bellwether companies, including two Dow components, have come out in recent days with profitReuters - 625 words
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Article, Illustration587 2012-06-23 20 Shift from being a producer to consumer supporting region’s growth outlook: Zeti Bloomberg Jakarta ASIAN nations are more prepared to face global economic shocks after they strengthened domestic demand and financial systems following the 1997-98 regional crisis, said Malaysian central bank governor ZetiBloomberg; BLOOMBERG - 587 words
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Article, Illustration656 2012-06-23 21 Data suggests economy is losing stamina, but economists say it’s not all gloom and doom Reuters Berlin GERMAN business sentiment fell for a second straight month in June to its lowest level in over two years, the latest sign Europe’s largest economy is noReuters; AP - 656 words
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Briefing
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90 2012-06-23 21 Bloomberg Singapore MALAYSIA’S inflation eased for the seventh straight month in May to the lowest in almost two years, giving the central bank room to hold interest rates and boost economic growth. Consumer prices rose 1.7 per cent last month fromBloomberg - 90 words
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95 2012-06-23 21 AP Mumbai SWEDISH retailer Ikea has applied to invest a total of 1.5 billion euros (S$2.4 billion) to open 25 stores in India, In- dia’s commerce ministry said yesterday. Ikea plans to initially invest 600 million euros, followed byAP - 95 words
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100 2012-06-23 21 Bloomberg New York FEDERAL Reserve Bank of St Louis President James Bullard yesterday said that a possible third round of quantitative easing would face a “pretty high hurdle”. “We can do that, and I think it would be effective,” he said. “ButBloomberg - 100 words
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72 2012-06-23 21 Reuters Sydney AUSTRALIAN media conglomerate Seven Group may bid to gain control of Consolidated Media Holdings (CMH), the nation’s competition regulator said, taking on Rupert Murdoch’s News Corp in a battle for coveted pay-TV assets. The Australian Competition and Consumer Commission yesterdayReuters - 72 words
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439 2012-06-23 21 Bloomberg Madrid SPAIN’S banks would need as much as 62 billion euros (S$99.2 billion) in capital to withstand a worst-case economic scenario, according to two consulting firms hired by the government to conduct stress tests on the financial institutions. Oliver WymanBloomberg - 439 words
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369 2012-06-23 22 S Jayasankaran - Ali Hamsa takes over as new chief secretary tomorrow By S Jayasankaran btworld@sph.com.sg Kuala Lumpur SIDEK Hassan, who stepped down as chief secretary to the government yesterday, is likely to be appointed the chairman of national oil corporation Petroliam Nasional (Petronas) soon. Mr Sidek,369 words
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274 2012-06-23 22 Reuters Jakarta INDONESIA’S new financial watchdog is due to open its doors at the start of 2013, but concerns are growing that it may actually undermine the country’s progress in bringing its fast growing financial sector under control. The Otoritas Jasa Keuangan (OJK) wasReuters - 274 words
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Page 20 Advertisements
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Advertisement56 2012-06-23 20 Your family business has outgrown your family. It’s about time you hire someone who doesn’t call you daddy. At stjobs.sg your ideal employee isn’t hard to find. yBJ The STJobs App for iPhone and iPad is free and available for download on the App store. For job posting and enquiries,56 words
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Page 22 Advertisements
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Advertisement69 2012-06-23 22 With more than 1.5 million job seekers visiting us monthly, the right employee shouldn’t be hard to find. Source; Nielsen NetRatings May 2012 a A product of SPH, Singapore's trusted media group. At stjobs.sg your ideal employee isn’t hard to find. The STJobs App for iPhone and iPad is free69 words
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Article7875 2012-06-23 23 Transaction date: Jun 22 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 11.5 8Telecom 13.9 13.7 18 66.8 0.4 3.3 66.6 8 3.8 A-Sonic 4.2 4 4.8 3.1 30.1 AAT 2 halt 1.67,875 words
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Article1669 2012-06-23 26 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 34 12.1 t 800 Super 16.5 -0.7 281 17.4 15.9 16 17 4.7 3.3 6.4 29.5 4 2.5 t AA Grp 3.6 2.8 3.5 3.51,669 words
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Article186 2012-06-23 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 5 6 0 0 0 5 5 6 Manufacturing 28 47 43 4 8 7 32 55 50 Commerce 19 13 24 3 2 1 22 15 25 Tpt/Stor/Comms 16 14 8186 words
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Article752 2012-06-23 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Jun 18 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Pacific Healthcare 20-Jun-12 Pacific Inv Buy 200 na ***** 6.18 ***** 6.23 Pacific Healthcare 20-Jun-12 Chong Lai752 words
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Article120 2012-06-23 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN SDQ TOTAL Multi Ind 10,824 10,824 49,936 49,936 Manufacturing 171,990 22,184 194,174 137,829 1,193 139,022 Commerce 346,920 20,770 367,690 130,820 951 131,771 Tpt/Stor/Comms 45,677 11,821 57,498 72,428 3,173 75,601 Finance 8,525 85,375 93,900 70,404 32,327 102,730 Construction 64,774 6,064120 words
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Article80 2012-06-23 27 Jun 21 COCOA (£/tonne) Close Prev High/Low Jul 12 1516 1508 1546/1499 Sep 12 1492 1494 1516/1479 Dec 12 1462 1467 1486/1452 Mar 13 1446 1452 1467/1437 COFFEE(US$/tonne) Close Prev High/Low Jul 12 2059 2062 2075/2045 Sep 12 2079 2086 2098/2064 Nov 12 2073 2076 2090/2055 Jan 13 204880 words
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Article73 2012-06-23 27 Jun 22 GOLD(US$/oz) Jun 21 Jun 22 Hong Kong 1605.20 1576.00 Hong Kong Jun 20 Jun 21 London 1605.96 1577.56 1606.75 1578.33 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 34.94 34.28 Source: UOB PLATINUM Lon (US$/oz) Jun 21 Close Previous PM Fix 1457.00 1459.00 AM Fix 1457.0073 words
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Article60 2012-06-23 27 Jun 22 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 12 2943.0 2984.00 2950.0 2920.0 570 4290 Aug 12 2960.0 2996.00 2961.0 2926.0 2046 ***** Sep 12 2964.0 3000.00 2970.0 2932.0 ***** ***** Oct 12 2972.0 3007.0060 words
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Article90 2012-06-23 27 Jun 22 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****N 20-Sep-12 0.27 0.26 0.26 1-Year BY*****T 02-May-13 0.27 0.26 0.25 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.25 01-Feb-14 100.14 5-Year N*****0Z 2.375 01-Apr-17 108.9290 words
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Article154 2012-06-23 27 Jun 22 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2795 1.2804 1.0012 1.0017 Canadian dollar 1.2417 1.2422 0.9716 0.9718 Euro 1.6015 1.6022 1.2531 1.2535 NZ dollar 1.0027 1.0033 0.7846 0.7849 Sterling pound 1.9947 1.9953 1.5608 1.5610154 words
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Article, Illustration125 2012-06-23 27 As on 21 June 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL INDIA GOLD (E-GOLD) FUT AUG2012 530.50 521.05 521.20 1017 INDIA GOLD (E-GOLD) FUT OCT2012 530.65 530.55 534.50 25 CURRENCY EUR-USD FUT SEP2012 1.2708 1.2566 1.2565 2380 BASE METAL COPPER FUT JUL2012125 words
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Article103 2012-06-23 27 Jun 21 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jul 12 1438.50 1446.50 1456.50 1431.00 Aug 12 1423.00 1437.00 1443.25 1421.50 Sep 12 1391.50 1410.25 1411.00 1391.25 Nov 12 1371.25 1395.50 1394.25 1371.00 SOYBEAN/OIL(60,000 lbs; USc/lb) Close Previous High/Low Jul 12 49.81 50.81 50.84 49.75103 words
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Article68 2012-06-23 27 Jun 21 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 90.58 -4.14 WTI (Near Mth) 78.28 -2.57 Dubai (1-Mth F) 90.34 -3.43 Tapis blend 95.90 -4.47 Minas 97.70 -3.97 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 76.28 -2.86 Jet Kerosene 108.10 -2.29 US$/barrel OpecOil Basket Price 89.4868 words
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Article118 2012-06-23 27 Jun 22 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.313 1.251 Can dollar 1.271 1.211 Euro 1.641 1.563 Sterling pound 2.031 1.953 NZ dollar 1.035 0.986 US dollar 1.296 1.247 Local dollars to 100 units of foreign currency: Currencies Sell118 words
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Article69 2012-06-23 27 Jun 21 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1830.75 1865.00 3 months 1870.00 1905.00 Copper, Grade A (US$/tonne) Cash 7342.50 7536.50 3 months 7341.00 7545.00 Lead (US$/tonne) Cash 1809.75 1864.00 3 months 1828.00 1882.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.0069 words
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373 2012-06-23 27 In local curr In S$ In US$ dy yr dy yr dy yr Jun 21 Index Change Change Change Change Change Change World Preliminary 859.8 -0.8 3.6 -0.6 1.1 -1.1 2.8 EAFE Preliminary 686.6 -0.4 0.6 -0.6 -2.9 -1.1 -1.2 Europe Preliminary 1020.8 -0.6 -0.6373 words
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Article, Illustration108 2012-06-23 27 Straits Times Index YTD change: +6.87% 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: +3.04% 52-week high: 22,835.00 on July 8,2011 52-week low: 16,170.30 on Oct 4,2011 Source: Bloomberg Shanghai Stock Exchange Composite YTD change: +2.79% 52-weekSource: Bloomberg - 108 words
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PERSPECTIVE
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Article, Illustration959 2012-06-23 28 / 29 Erik Stern - Going by an ABN Amro study that the winner could get a 0.7% fillip in GDP, an Italian victory could replace panic with panacea. By Erik Stern By Erik Stern ~The writer is president international at Stern Stewart Co, a business economicsAFP - 959 words
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Article, Illustration919 2012-06-23 28 / 29 Hugo Young - REUTERS BREAKINGVIEWS By Hugo Young SOME European policymakers are talking about a “banking union” for the eurozone as if it was around the corner. Jose Manuel Barroso, the European Commission president, for example, told the Financial Times last week that such a union which919 words
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Wealth
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WEALTH INVESTING
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Article, Illustration1200 2012-06-23 30 / 31 Lorna Tan - Many policyholders are not aware that they may be in a worse off situation when they replace their medical plans WEALTH INSIGHT Lorna Tan BESIDES engaging in water sports during a recent vacation at the Maldives, I read The Rainmaker, a novelREUTERS - 1,200 words
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Article645 2012-06-23 30 / 31 Jamie Lee - Compiled by Jamie Lee Ying Li International June 22 close: $0.295 DBS Vickers Research, June 22 IMPROVING sentiment on policy loosening: Earlier this month, China cut its five-year lending rate to 6.8 per cent from 7.05 per cent and the Housing Provision Fund benchmark rate to 4.7 per645 words
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Article, Illustration742 2012-06-23 32 A hedge fund conference reveals doubts about whether they can perform as expected Reuters London HEDGE fund investors have voiced their concerns about complex funds designed to protect against major market meltdowns, just as fears of a break-up of the eurozone have spurred hugeReuters; STOCK.XCHNG - 742 words
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681 2012-06-23 32 Reuters New York IN the summer, Mark Martiak usually spends four days a week at his home office in his Southampton, New York beach house. But not this year. Mr Martiak, a senior wealth strategist at Premier Financial Advisers, says heReuters - 681 words
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Article, Illustration732 2012-06-23 33 Investors should favour debt of nations such as the US, Mexico and Brazil, advise money managers Bloomberg Singapore BILL Gross, who runs the world’s largest mutual fund at Pacific Investment Management Co, warned against risk assets, as Aberdeen Asset Management plc said that it isBloomberg; BLOOMBERG - 732 words
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242 2012-06-23 33 Xinhua Beijing CHINA’S securities watchdog is mulling over offering tax breaks on stock-market investments by the country’s pension funds amid increasing pressure to boost the value of the funds as China’s population grows older. The China Securities Regulatory Commission (CSRC) andXinhua - 242 words
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WEALTH REAL ESTATE
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Article962 2012-06-23 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN MAY 23 AND 29, 2012 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 11 NON-LANDED Adam Park Apt 25/05/2012 FH 958 1342 1401 City Edge Apt 23/05/2012 FH 1152 1710 1484962 words
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Article, Illustration673 2012-06-23 35 Kalpana Rashiwala - By Kalpana Rashiwala kalpana@sph.com.sg Singapore SEVERAL big-ticket bungalow deals have been transacted recently both in the Good Class Bungalow (GCB) market on mainland Singapore and at Sentosa Cove. An old two-storey freehold bungalow at White House Park changed hands recently at $24.8 million,673 words
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Article, Illustration342 2012-06-23 35 Lim Wei Sheng - By Lim Wei Sheng limwsg@sph.com.sg Singapore FREEHOLD residential property Westvale Condominium has been sold to RL West Pte Ltd, a subsidiary of Roxy Pacific Holdings Ltd, for $77.5 million, or about $883 per square foot per plot ratio (psfFILE PHOTO - 342 words
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Page 36 Advertisements
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Advertisement145 2012-06-23 36 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. CLASSICAL PURITY IS THE DEFINING AESTHETIC OF THE JULES AUDEMARS COLLECTION. FOR CENTURIES THE ARTISAN HAS KNOWN THAT IT IS EASIER TO ADD THAN TO SUBTRACT. HERE HOWEVER THE MASTERY OF THE ESSENTIAL HAS PRODUCED A WATCH OF RARE PRESENCE AND145 words
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Advertisement74 2012-06-23 1 LivingBTTHE BUSINESS TIMES WEEKEND JUNE 23 24 2012 DESTINATION DINING Copenhagen’s taste of Singapore L5 BEAUTY/WELLNESS A pill for better skin L13 THEME EFFORT New eateries set themselves apart with bold concepts L2-4 PIRATES ON ROBERTSON QUAY PHOTO BY YEN MENG JIIN GADGETS If you can’t blast it, can it74 words
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BT Living
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DINING
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Article, Illustration2905 2012-06-23 2 / 3 Debbie Yong; Tan Teck Heng; Anna Dorcas Lee - The theme restaurant once popularised by the likes of Hard Rock Cafe died a natural death years ago, but a revival of sorts seems to be at hand. BT Weekend drops in on four eateries that are banking on bold branding and design concepts to set them apartPIRATES ON ROBERTSON QUAY PHOTOS BY YEN MENG JIIN; AU CHOCOLAT: ARTIST’S IMPRESSION; ARTIST’S IMPRESSION; WHEELS AND WIENERS PHOTOS BY YEN MENG JIIN - 2,905 words
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DESTINATION DINING
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Article, Illustration1386 2012-06-23 5 Debbie Yong - Nam Nam Vesterbrogade 9, Copenhagen DenmarkZ+45 4191 9898 www.restaurantnamnam.dk Hours: 5 -11pm daily Nam Nam, the much anticipated Singapore eatery run by the man behind the world’s best restaurant, Noma, has finally opened its doors. Debbie Yong was in Copenhagen to check out the month-old ventureFOOD PHOTOS: KARLOS PONTE; NAM NAM EXTERIOR: DEBBIE YONG; PHOTOS: NAMS KUISINE, KARLO PONTE; PHOTOS: DEBBIE YONG - 1,386 words
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Article, Illustration720 2012-06-23 6 Debbie Yong - By Debbie Yong MENTION Noma and the first name that comes to mind is its head chef Rene Redzepi. But few people seem to know about the highly acclaimed restaurant’s co-own-er, Claus Meyer. Not that he minds it. “Every entrepreneur hopes to get to the pointMEYER GROUP - 720 words
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SHOPPING
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Article, Illustration406 2012-06-23 7 Corinne Kerk - BT Weekend rides the crest of the latest beauty wave By Corinne Kerk btnews@sph.com.sg IN the last three years, it virtually disappeared from most Asia Pacific markets, but YSL Beaute creator of the iconic Touche Eclat click-pen complexion enhancer is finally making a comeback. And the redux promises406 words
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Article, Illustration440 2012-06-23 7 Tan Teck Heng - By Tan Teck Heng thtan@sph.com.sg A WOMAN sporting pale pink hair beckons you into the room with a mischievous glint in her eye. She unveils a wheel with myriad colour swatches, and spins it like a practised clairvoyant would. Wispy vapours shroud the mysterious contraption,440 words
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Article, Illustration420 2012-06-23 7 Helmi Yusof - By Helmi Yusof helmi@sph.com.sg MANY men view skincare products with suspicion. When told they can look younger with a 3-step routine, they wonder if it has anything to do with soccer. Despite the challenges, skincare brands continue to push out new ranges of men’s products hoping men420 words
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DESIGN
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Article, Illustration764 2012-06-23 8 / 9 Tay Suan Chiang - With the proliferation of shoebox homes and high-rise apartments getting smaller, it’s little wonder homeowners are beginning to shop for furniture that doesn’t take up too much space. BT Weekend checks out pieces that will fit right into small homes. Space By Tay Suan Chiang taysc@sph.com.sg ‘The ever-shrinking764 words
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Article, Illustration895 2012-06-23 10 / 11 Tay Suan Chiang - An award-winning house built entirely of concrete shows how the seemingly cold material can be used to create a design that is both evocative and functional. By Tay Suan Chiang By Tay Suan Chiang taysc@sph.com.sg THE owner of this single-storey house off Holland Road had specific instructions forPHOTOS: YEN MENG JIIN - 895 words
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BEAUTY/WELLNESS
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Article, Illustration674 2012-06-23 12 / 13 Cheah Ui-Hoon - Treating melasma with hydroquinone can lead to a worse condition: exogenous ochronosis. By Cheah Ui-Hoon uihoon@sph.com.sg PIGMENTATION it’s probably the biggest beauty bane of an Asian woman in a society that prizes fair, even and clear skin. Hormo-nally-caused Melasma is a common condition, and now,674 words
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Article, Illustration691 2012-06-23 12 / 13 Cheah Ui-Hoon - One of Singapore’s breakthrough products this year could be an oral beauty supplement. By Cheah Ui-Hoon By Cheah Ui-Hoon uihoon@sph.com.sg IF there was a magic pill you could take to get rid of pigmentation instead of slapping on skin-lightening creams that barely lighten spots, never691 words
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GADGETS
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Article, Illustration646 2012-06-23 14 Christopher Lim - These 4 headphones balance size, design and versatility across a broad price spectrum. By Christopher Lim limchris@sph.com.sg Sennheiser HD 700 $1,399 WHEN Sennheiser’s flagship HD 800 headphones launched three years ago, it polarised fans of the brand with both its sound and design.646 words
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HEALTH
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Article, Illustration1129 2012-06-23 15 Michael Lim - Reduce the chance of silent strokes, and help retain cherished moments and experiences. By Michael Lim ~The writer is medical director at the Singapore Heart, Stroke Cancer Centre. He is also editor-in-chief, Heart Asia (a journal of the British Medical Journal Publishing Group); chairman, scientific advisory board,AFP - 1,129 words
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SPORTS
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Article, Illustration624 2012-06-23 16 Lee U-Wen - Dragon boating a sport for all no holds barred Lee U-Wen leeuwen@sph.com.sg Correspondent AFTER sacrificing 12 straight weekends and spending hours of training under the hot sun to prepare for Singapore’s first international dragon boat competition in 12 years, the last thing Karen Ngui and her colleagues at DBS wantedDESMOND WEE/ THE STRAITS TIMES - 624 words
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526 2012-06-23 16 lee u-wen - knock out with lee u-wen leeuwen@sph.com.sg JUST what do burgers and mixed martial arts have in common? Plenty, it would seem, according to Alec Lim, the country manager (Singapore Malaysia) of fast-food chain Carl’s Jr. Mr Lim is overseeing the American restaurant chain’s526 words
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GOLF
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Article, Illustration1168 2012-06-23 17 Justine Moss - Golf still seen as a secondary sport in the Philippines even though there are past and current stars who have succeeded on the professional circuit. By Justine Moss By Justine Moss btnews@sph.com.sg ASK anyone from the Philippines who the most famous sportsman in thePHOTOS: ASIAN TOUR - 1,168 words
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MOTORING
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Article, Illustration779 2012-06-23 18 Refinement and comfort levels are exceptional in the new model I T isn’t often that Audi launches a new A3. Since it debuted in 1996, the A3 is only into its third generation after the the outgoing, sec-ond-generation A3 soldiered on for nine years779 words
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Article, Illustration588 2012-06-23 19 Samuel Ee - The Bentley Continental GT V8 may have 4 cylinders less but it is more interesting to drive. By Samuel Ee samuelee@sph.com.sg EVEN if you miss the gloss black mesh grille or the “figure eight” exhaust pipes, there is little chance of not noticing that the Bentley Continental588 words
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Article, Illustration371 2012-06-23 20 CY Chew - 300 customers got behind the wheel of the BMW 3 Series at the BMW Performance Academy. By CY Chew btnews@ sph.com.sg IT’S one thing to have a catchy tagline like “the ultimate driving machine” but to get customers to really believe that that’s the car they own, authorised371 words
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Article377 2012-06-23 20 CY Chew - By CY Chew TWO BMW 3 Series models the 320i and 328i were available for participants to sample during the BMW Performance Academy. Launched about six months ago, the 3 Series is the quintessential executive sedan. The car’s sheetmetal has been carefully creased for a377 words
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Advertisement746 2012-06-23 12 / 13 wine&dinewith BTWeekend Mandarin Court Level 35, Mandarin Orchard Singapore 333 Orchard RoadZ6831-6288 Relish authentic Cantonese cuisine especially created by Executive Chinese Chef Kong Hing Sun. Famed for its authentic Cantonese cuisine, intimate ambience and impeccable service, the restaurant has garnered many awards over the years. Chef Kong showcases his culinary746 words
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Page 14 Advertisements
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Advertisement35 2012-06-23 14 HOME NEEDS JTi i Add some sparkle to your home with new lighting. To find out more, turn to CLASS 106 in CATS Classified in The Straits Times now. \r i BUY IT-SELL IT-FIND IT35 words
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