The Business Times, 25 June 2012

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Total Pages: 35
1 36 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|£l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 120/08/2011 Monday, June 25, 2012
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  • Article, Illustration
    Lock icon More S’pore firms in overseas M&As
    668 1  -  Stronger S’pore dollar, search for growth drive 55.5% rise this year By LYNETTE KHOO [SINGAPORE] Singapore companies have been making more overseas acquisitions in the first half of the year, prompted in part by the stronger Singapore dollar, and the search for growth markets.
    Source: Thomson Reuters  -  668 words
  • MARKETS DIGEST
    • Article
      Lock icon MARKETS
      57 1 Weekly Change ST INDEX 2,828.09 +17.09 KL COMP 1,603.07 +23.84 NIKKEI 225 8,798.35 +229.03 HANG SENG 18,995.10 -238.84 SET INDEX 1,152.91 -12.82 JAKARTA COMP 3,889.52 +71.41 MANILA COMP 5,120.07 +189.44 SEOUL COMP 1,847.39 -10.8 SHENZHEN B 636.86 +7.51 MUMBAI IND 16,972.5 +22.67 DOW 12,640.78 -126.39 NASDAQ 2,892.42 +19.62 S&P
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    • Article
      Lock icon PRIME RATES
      18 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 0.50 TAIWAN 5.036 JAPAN 1.475 KOREA Source: Bloomberg
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    • Article
      Lock icon FOREX
      49 1 us$ 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 24.89 RUPIAH 9,478 7,415 RENMINBI 6.365 4.980 INDIAN RUPEE 57.26 44.80 A$ 0.999 0.781 NZ$ 1.274 0.997
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  • Article, Illustration
    Lock icon Is Nokia’s Stephen Elop Microsoft’s Trojan horse?
    902 1  -  COMMENTARY VICTORIA HO Reporter STEPHEN Elop’s time at Nokia is coming to two years, a period that’s been nothing short of tumultuous for the Finnish handset maker. The Canada-born executive is the first non-Finn to be named CEO at Nokia. He left his
    902 words
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      120 1 BizIT E-payment edge for rural nations PAGE 34 YOUNG INVESTORS‘ FORUM Mistakes happen all the time PAGE 9 VIEWS FROM THE TOP Managing industrial property costs pages 10-11 BT WEBSITES For breaking news, go to businesstimes.com.sg. For personal finance stories, go to btinvest.com.sg. For more information, e-mail btocs@sph.com.sg or call
      120 words
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      7 1 DINING OUT Skewered to perfection PAGE 28
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  • TOP STORIES
    • Article
      Lock icon Eurozone’s ESM offers cold comfort to investors
      1187 2  -  Doubts persist over mechanisms’ ability to handle short-term debt, systemic flaws By LIM WEI SHENG [SINGAPORE] While investors remain on tenterhooks tracking eurozone government bond yields, few may be paying regard to the official mechanisms in progress to foster greater eurozone resilience the
      1,187 words
    • Article
      Lock icon There won’t be a break-up of EU: top diplomat
      464 2  -  There is very strong political will to avoid this, he adds By MALMINDERJIT SINGH [SINGAPORE] Even if economics may warrant a disintegration of the eurozone, the political will of Europe’s leaders will help ensure such a catastrophe does not happen. According
      464 words
    • Article, Illustration
      Lock icon Market’s erratic moves likely to continue: traders
      856 2  -  Eurozone summit, US health care ruling seen as key events WALL STREET INSIGHT By ROB CURRAN TRADERS had hoped for more than the extension of the interest rate swap programme known as “Operation Twist” from the Fed last Wednesday. Instead, dreams of another
      AP  -  856 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      674 2 S’pore firms step up overseas M&As SINGAPORE companies have been making more overseas acquisitions in the first half of the year, driven in part by the stronger Singapore dollar and the search for growth markets. Bolstering this was DBS Group when it announced in April its US$7.4 billion
      674 words
    • Article, Illustration
      Lock icon Happening times in the skies above Asia
      1066 4  -  Consolidations, proliferation of no-frills air travel and multi-branding are 3 key trends NEWS ANALYSIS By VEN SREENIVASAN [SINGAPORE] The prospect of more turbulence wrought by anaemic global economic growth and unpredictable fuel prices is accelerating changes within the Asian aviation industry. The International
      BLOOMBERG  -  1,066 words
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      46 2 GROUP TOUR SPECIALIST Retreats Meetings Team Building Incentive Tours Taylormade Golf Trips East West Malaysia Hong Kong Indonesia Thailand Vietnam Cambodia Macau China We are looking forward to get a challenging assignment from you Luxury Tours Travel Pte Ltd mice@luxury.com.sg s www.luxury.com.sg 3 Tel: 6309 0850
      46 words
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      105 3 (Z)lexus THE PURSUIT OF PERFECTION LEXUS INVITES YOU TO LOUNGE L. We created Lounge L because we don't just craft cars, we craft experiences. Experience our dedication to craftsmanship with a gourmet menu, bespoke hospitality and Australia's best coffee served by award-winning baristas. If you love great coffee, great food
      105 words
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      138 4 -X 0‘\ W m sat ■-‘silij V SSi I I w m mm 4 t 'v IS TO 8£ £>M *A\v m stSSesrws N --TM-gm H lt4, w: &r?' j ■'V,4 'V« i ->.■ ■<? 1,1?' K'ft; Ms# v. vr& -s. > ag R af is CV--l'.J p?ip >.v T
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon Leadership change adds to CapitaLand’s risks
      582 5  -  HOCK LOCK SIEW By WONG WEI KONG LIEW Mun Leong was the firestarter at CapitaLand. The challenge, for his successor and the group itself, is to keep the fires burning. ast Friday, the developer announced that Mr Liew, its president and chief executive, will
      582 words
    • Article
      Lock icon Firms sound profit warnings, flag losses
      526 5  -  They cite factors like weak business conditions, higher costs, stalled deals By MINDY TAN Several listed companies sounded profit warnings over the past week, as June draws to a close. Weak business conditions, higher costs and stalled deals were cited as factors by the
      526 words
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      331 5 s Foreign Investment Law ■S Condominium Law ■S Legal Aspects •S Investment Update •S Foreign Exchange Opportunities Urban Redevelopment Telecommunication Shipyard/Ship Building Hotel Tourism Oil Gas Port Development Trade policy Property Development Investment 6 th Myanmar Business Conference 2012 Hear From Officials 16 17 July 2012, Orchard Hotel, Singapore Conference
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Playing the game the big boys are playing
      654 6  -  STOCKS R SIVANITHY Senior Correspondent THE game that is been played by trading funds over the past three to four months has been: (a) to identify potential market-moving events like European summit meetings or G-20 conferences or US Federal Open Market Committee
      654 words
    • Article
      Lock icon Prices slump on global economic strains
      579 6 COMMODITIES AFP [LONDON] Commodity prices slumped last week, with Brent oil crashing to 18-month lows and metals tumbling, as more dark clouds appeared over an already troubled global economy. Oil: Brent crude oil dropped under US$90 a barrel for the first time since December
      AFP  -  579 words
    • Article
      Lock icon Asian units drop as global growth concerns mount
      594 6 CURRENCIES Bloomberg [SINGAPORE] Asian currencies fell last week, led by India’s rupee and the Malaysian ringgit, as signs that the world economy is deteriorating dimmed the outlook for regional exports and curbed demand for emerging-market assets. Taiwan’s central bank left interest rates
      Bloomberg  -  594 words
    • Article
      Lock icon BROKERS’ RECOMMENDATIONS
      1455 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price AIMS AMP Capital Industrial REIT 2.00 2.00 2 10.00 11.90 1.42 1.20 Amtek Engineering 1.60 1.60 5 0.07 7.29 0.93 0.62 ARA Asset Management 1.38 1.33 8
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    • Article, Illustration
      Lock icon STRAITS TIMES INDEX
      4 6 WEEKLY
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      65 6 Jun 22 VALUE CLOSE BT OB/OS 384.00 +126.0 BT CADI -*****.00 -24.0 BT 10-day MA -*****.00 +39.00 FTSE ST Mid Cap 661.68 FTSE ST Small Cap 435.66 -0.03 FTSE ST All Share 685.77 -0.39 FTSE ST China Top 194.74 +0.75 FTSE ST China 219.50 -0.42 FTSE ST
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    • Article
      Lock icon MOST ACTIVE STOCKS
      57 6 VOLUME GSH Corp 346,885,000 Golden Agri 230,338,000 NexGenSCom 204,091,000 ChinaTaisan 201,171,000 Noble Grp 180,096,000 Genting SP 166,795,000 Olam 150,729,000 Sakari 150,498,000 TT Intl 144,939,000 Aussino 122,268,000 VALUE($) Olam 285,630,250 Genting SP 240,885,245 Noble Grp 207,032,505 Sakari 203,513,736 DBS Grp 176,772,775 Wilmar 175,075,298 SingTel 153,054,643 Golden Agri 150,235,925
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    • Article
      Lock icon RISES
      118 6 BY CENTS CLOSE UP DBXT AUD Bonds 5AU$ ***** 217.0 0.9 JMH 4979 203.2 3.3 Lyxor AsiaMT 10US$ 4907 167.4 2.7 DBXT SPASX200 10US$ 3191 153.4 3.9 DBXT USDIGInfl 5US$ ***** 138.0 0.4 DBXT MSEurope 10US$ 4020 115.0 2.3 Jardine C&C 4505 105.0 2.4 UOB 5.05%NCPS 100 ***** 83.0
      118 words
    • Article
      Lock icon FALLS
      129 6 BY CENTS CLOSE DOWN GLD 10US$ ***** -654.3 -3.3 DBXT Nifty 10US$ 9194 -386.0 -3.2 DBXT MSKorea 10US$ 5276 -98.4 -1.4 DBXT FTChina25 10US$ 2484 -88.2 -2.7 DBXT MSTHAI 10US$ 1704 -79.2 -3.5 JSH 2964 -46.0 -1.2 CerebosPac 525 -31.0 -5.6 Lyxor India Nifty 10 1165 -27.0 -2.3 DBXT
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 6 WEEKLY
      5 words
    • Article
      Lock icon Flat buying, low selling
      1799 7  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Ltd UYING was flat while selling among directors remained low, based on June 18-22 filings on the Singapore Exchange. A total of 18 companies recorded 31 purchases worth $6.4 million versus five firms with
      1,799 words
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      2624 7 sia EnainEERinc com PAH Y SIA ENGINEERING COMPANY LIMITED (Incorporated in the Republic of Singapore) Company Registration No. *****1025C NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 30 th Annual General Meeting of SIA Engineering Company Limited (“the Company”) will be held at Marina Mandarin Ballroom, Level
      2,624 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Overseas internships gaining favour among students
      1065 8  -  They cite training, experience and exposure that such placements give By TIMOTHY LOH ADAMSON Alagan had a Wunder-ful surprise after a six-month traineeship stint last year in the New York headquarters of global marketing powerhouse Wunderman. He was offered a job as the company’s
      1,065 words
    • Article
      Lock icon COMPANY MEETINGS
      250 8 COMPANY MEETING PLACE DATE TIME CheungWoh A 23 Tuas South Street 1 Singapore *****3 25-Jun 11.30am Jackspeed Corp A 47 Loyang Drive Singapore *****5 25-Jun 10.00am Hengyang Petro E 168 Robinson Road Capital Tower, FTSE Room 9th Floor Singapore *****2 25-Jun 10.00am Rowsley A 87 Science Park Drive
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    • Article
      Lock icon PRIME LENDING RATES
      295 8 Jun 22 BANKS Agricultural Bank Of China 5.5 Agricultural Bank Of China 5.5 Banco Bilbao Vizcaya 6 Arab Bank PLC Bank Julius Baer Co. Ltd(S) 5 Banco Bilbao Vizcaya Bank of China Limited 5.5 Bank of Communications 5.5 6 Bank Julius Baer Co. Ltd(S)... Bank of New
      295 words
    • Article, Illustration
      Lock icon Learn ‘language hacking’ from Benny Lewis
      1101 8  -  By TIMOTHY LOH POLYGLOT and globe-trot-ter Benny Lewis is no ordinary travel blogger. Like many others of his ilk, he makes a full-time living from travelling around the world, exploring new cultures and meeting new people. But, interestingly, the founder of Fluentin3Months.com doesn’t use
      BENNY LEWIS  -  1,101 words
    • Article
      Lock icon DIVIDENDS ANNOUNCED
      661 8 Payment Ex Books Pay Ann (cts) date close date date Action Asia ak 0.800 14-Jun 18-Jun 28-Jun 28-Mar AEM Hldgs aw 0.350 01-Aug 03-Aug 17-Aug 14-May Amara Hldgs an 0.600 12-Jun 14-Jun 27-Jun 12-Apr Aspial Corp ca 1.000 07-May 09-May 26-Jun 13-Apr B Sembawang ak 4.000 31-Jul 02-Aug
      661 words
    • Article
      Lock icon President Tony Tan in 10-day visit to Germany
      280 8  -  By KELLY TAY in Munich PRESIDENT Tony Tan Keng Yam arrived in Germany yesterday, which marks the first official visit to the country by a Singapore head of state. Over the course of his 10-day stay in Germany, President Tony Tan will
      280 words
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • Article, Illustration
      Lock icon Mistakes happen all the time
      1012 9  -  To avoid costly errors, broaden your sources of information and have contingency plans in place, reports JANE WILLIAMS reportsJANE reportsJANE WILLIAMS IN September 1999, the Mars Climate Orbiter crashed due to a simple miscalculation. Nasa reported that the loss of the US$125 million probe was
      1,012 words
    • Article, Illustration
      Lock icon An opportune moment to take risk
      1017 9  -  Justin Koh says investing mistakes cost less now when he’s still a student, compared to the future STARTING YOUNG By AUDREY TAN UNLIKE his peers, Justin Koh Zhi-Ren doesn’t spend much on games, wild partying or branded apparel. Instead, like a true-blue Singaporean, he
      ARTHUR LEE  -  1,017 words
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      43 9 If you’re between the ages of 17 and 30 and wish to share your investing story too, e-mail btyif@sph.com.sg with “Starting Young” in the subject heading now. Views shared by young investors in this space are their own, and not endorsed by BT.
      43 words
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      Lock icon Page 9 Advertisements Column 2
      156 9 Get started now Be a young investor DO you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to
      156 words
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  • VIEWS FROM THE TOP
    • Article, Illustration
      Lock icon Managing industrial property costs
      2243 10 THIS WEEK’S TOPIC Will the move to halve industrial land tenure really help contain industrial property costs and rents, and lower business costs? Could its effectiveness be boosted by some other property-related measures, and if so, what? Dennis Yeo Managing Director Colliers International THE move by
      FILE PHOTO  -  2,243 words
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      87 10 The SME Magazine coming to you with your copy of The Business Times on July 4 IN THIS ISSUE SHOW ME THE MONEY: The right approach to getting loans and tapping into government funding WORKING WITH LESS: Taking advantage of tax concessions, grants and cash payouts to ease foreign labour
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      141 11 n X mm A w O m rv o U« <r X, «> 4> o V T *>/j rm SIHIjp r O o v\ f v fit y u URIA/ERK PRESENTS THE UR-nno RED GOLD AND ITS REVOLVING SATELLITE COMPLICATION ON PLANETARY GEARS (also available in AITIN and Tantalum) 5.
      141 words
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon Putin disavows, but won’t ditch, state capitalism
      861 12 Privatisation has come to the fore as Russia’s most divisive policy issue Reuters [ST PETERSBURG, Russia] “State capitalism is not our goal,” Vladimir Putin said in his first big speech on the economy since his return to the Kremlin, managing to leave investors
      Reuters; AP  -  861 words
    • Article
      Lock icon Clock ticks for US Congress over transport, loans
      500 12 Reuters [WASHINGTON] With only a week to go until funding expires for federal highway construction and student loan rates soar, negotiators in Congress are working to cut a deal that would defuse two political time bombs ahead of the November general election.
      Reuters  -  500 words
    • Article, Illustration
      Lock icon UBS sees Australia mining tax takings below forecast
      859 12 It will also cut profit estimates for the mining giants Bloomberg [SYDNEY] Australia’s planned mining tax will raise less than half the amount forecast by the nation’s Treasury in the next two years and reduce profit estimates for BHP Billiton and Rio
      Bloomberg; REUTERS  -  859 words
    • Article
      Lock icon Latvians advise Greeks to look for opportunities
      644 12 AFP [CESIS, Latvia] When the world’s deepest recession struck Latvia in 2009 and jobs dried up, single-moth-er of seven Inita Radzina had no choice but to pack her bags and leave her children to look for work in Ireland. “I spent three months
      AFP  -  644 words
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      305 12 MATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF ORION BUNKERS PTE. LTD. (In Voluntary Liquidation) (Company Registration No. *****6464D) NOTICE OF RESOLUTION At the Extraordinary General Meeting of the members of ORION BUNKERS PTE. LTD. which was deemed to have been duly
      305 words
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  • MALAYSIA
    • Article, Illustration
      Lock icon Malaysia haze points to a regional problem
      528 13 Air pollution issue has become a recurring summer blight in S-E Asia NYT [KUALA LUMPUR] For much of the year, the Petronas Towers, the world’s tallest twin buildings, are gleaming landmarks visible far from the city centre here. But the weekend before last,
      NYT; REUTERS  -  528 words
    • Article, Illustration
      Lock icon Borders banned-book case a hot potato for KL
      670 13  -  Application for judicial review of charge against store manager throws up tricky legal questions MALAYSIA INSIGHT PAULINE NG KL Correspondent CANADIAN author Irshad Manji’s visit to Malaysia in midMay caused a bit of a furore. The liberal Muslim activist who supports LGBT
      670 words
    • Article
      Lock icon BURSA MALAYSIA
      1656 13 VOL Jun 22 RM +/-(‘000) A M Realty 0.44 unch 0 VOL Advance Synerg 0.17 unch 318 Adventa Bhd 1.46 unch 6 Ae Multi Hldgs 0.22 0.01 3 Affin Holdings 3.26 -0.01 464 Ahmad Zaki Res 0.77 -0.02 451 Abric Bhd Airasia Bhd 3.59 -0.01 ***** Alliance Finan
      1,656 words
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      58 13 HOROLOGICAL MACHINE N°3 '■ffffip r? v<iS b 4 SlA P> M N N \W X Hr W %w\\\w z. > D HOROLOGICAL LAB jm&m, «r* iili> HOROLOGICAL MACHINE N°3 THE ENGINE 304 COMPONENTS 36 JEWELS WWW.MBANDF.COM THE HOURGLASS SINGAPORE ION ORCHARD L’ATELIER TEL: 65-6509 9268 KNIGHTSBRIDGE MALMAISON TEL: 65-6884 8484
      58 words
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      76 14 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 r 1 f Va 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
      76 words
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  • GREATER CHINA/INDIA
    • Article
      Lock icon RBI rules slow growth at gold loan firms
      805 15 Central bank regulations to cut risk in banking system will stall growth and slow profits, they say Bloomberg [MUMBAI] India’s biggest lenders that use gold jewellery as collateral say earnings may stall this year as central bank regulation aimed at reducing risk
      Bloomberg  -  805 words
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      Lock icon India readies measures to support rupee following its slump
      837 15 Fall to a record low vs US$ threatens to intensify inflation Bloomberg [MUMBAI] India plans to unveil steps to support the rupee after its slump to a record low against the US dollar threatened to intensify price pressures and increase the
      Bloomberg; AFP  -  837 words
    • Article, Illustration
      Lock icon Huawei denies riding on subsidies
      528 15 It gets only legal R&D subsidies, like European firms Reuters [ST PETERSBURG] Huawei Technologies, the world’s No 2 telecom gear maker, has denied using Chinese subsidies to gain global market share after it was accused by US lawmakers and EU officials of unfair competition. Huawei
      Reuters  -  528 words
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      292 15 In the end, you're measured not by how much you undertake but by what you finally accomplish. JJ (■■■I *.'0 M O DonaldTrump MDIS Business School 0 V MDIS, pioneering hands-on learning for the new economy. MDIS Business School Doctor of Business Administration 1 Commences Aug 2012 (Part-time) The Bradford
      292 words
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  • WORLD
    • Article
      Lock icon Markets keenly await Japan’s vote on tax hike
      834 16  -  Outcome could herald a major political upheaval for the country By ANTHONY ROWLEY in Tokyo THIS promises to be a critical week for Japan, both politically and fiscally, depending on the outcome of a vote due to take place in the lower
      834 words
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      Lock icon Carlos Slim claims victory with 21% KPN stake
      776 16 Bloomberg [AMSTERDAM] Mexican billionaire Carlos Slim has succeeded in his quest for an influential stake in Royal KPN NV, more than doubling his shares after the former Dutch phone monopoly failed to persuade investors to refuse his advances. America Movil SAB, Mr
      Bloomberg; REUTERS  -  776 words
    • Article, Illustration
      Lock icon Developers hunt for rare earth alternatives
      798 16 Manufacturers plan ahead for supply security, availability Reuters [TORONTO] The hunt for substitutes for rare earth minerals is gaining momentum as carmakers, lighting companies and clean tech developers seek to reduce their reliance on thin and unreliable supplies of the raw material. Rare earths,
      Reuters; REUTERS  -  798 words
    • Article
      Lock icon Frenchman becomes Brazil’s retail kingpin
      615 16 Reuters [PARIS] An intellectual Frenchman who came to retail relatively late in his career is set to become the industry’s kingpin in Brazil, one of the world’s largest and fastest-growing consumer markets. Jean-Charles Naouri, the steely-eyed boss of French stores group Casino, took control of
      Reuters  -  615 words
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      Lock icon Trade restrictions on the rise
      812 17 Analysts sound alarm over sudden surge in number of such barriers NYT [WASHINGTON] Argentina tweaked import regulations on bottle caps and water balloons. India banned exports of cotton. South Africa instituted a tariff on artificial turf. Those recent policy changes sound minute. But they, and
      NYT; REUTERS  -  812 words
    • Article
      Lock icon Greek PM to miss EU summit
      376 20 Samaras recovering from eye surgery; incoming finance minister in hospital Reuters [ATHENS] Greek Prime Minister Antonis Samaras, who underwent eye surgery on Saturday, will not attend a summit of European Union (EU) leaders on June 28-29, when Athens will seek to ease the punishing
      Reuters  -  376 words
    • Article, Illustration
      Lock icon Alonso wins thrilling European Grand Prix
      426 20 AFP [VALENCIA, Spain] Ferrari’s Fernando Alonso won a thrilling European Grand Prix here yesterday, the Spanish driver becoming the first repeat winner of a wide-open season. Less than 24 hours after Spain had secured their place in the semi-finals at Euro 2012, the two-time
      AFP; REUTERS  -  426 words
    • Article
      Lock icon Cameron wants to scrap youth housing subsidy
      423 20 Says current system reduces incentives for people to work Reuters [LONDON] British Prime Minister David Cameron has proposed scrapping rent subsidies for Britons under age 25, in a newspaper interview yesterday that may heighten tension with his Conservative Party’s Liberal Democrat coalition partners.
      Reuters  -  423 words
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      2882 17 SMRT CORPORATION LTD (Incorporated in the Republic of Singapore) (Company Registration Number: *****1855H) Notice of Annual General Meeting To: All Shareholders NOTICE IS HEREBY GIVEN that the Thirteenth Annual General Meeting of the Company will be held at Marina Mandarin Ballroom, Level 1, Marina Mandarin Singapore, 6 Raffles Boulevard, Marina
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      771 20 UP YOUR MANAGEMENT SKILLS Utilising areas of Productivity, Social Media Negotiation Who should attend: Corporate Communications Professionals, Human Resource Professionals, Head Hunters, Search firm owners, Team Leads, Departmental Heads, Operational Managers, Supervisors Register at www.stjobs.sg/seminars FULL-DAY WORKSHOPS Transforming Service Breakdown to Opportunities Monday, 18 June, SPH News Centre (9.30am to
      771 words
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  • LIVEABLE AND SUSTAINABLE CITIES
    • Article, Illustration
      Lock icon Pooling perspectives and knowhow
      862 21  -  Putting 3 events on a single platform reflects the recognition that cities require solutions that address multiple challenges simultaneously By MINDY TAN A VIBRANT, 24/7, environmental-ly-friendly mixed-use precinct where people live, work, and play. A place that would define Singapore the way The Bund defines the
      FILE PHOTO  -  862 words
    • Article, Illustration
      Lock icon Water: a strategic asset in Singapore
      1557 22  -  By MINDY TAN BT interviews Chew Men Leong, chief executive, PUB and executive director, Environment and Water Industry Programme Office about water sustainability and creation of a thriving water eco-system. Question: Being a country with no natural resources, how has Singapore overcome its water
      1,557 words
    • Article, Illustration
      Lock icon Growth from garbage
      985 23  -  Waste management is now getting a serious airing in discussions about sustainability By LYNN KAN WASTE a mounting problem in booming Asia has long been buried beneath the surface. But with a realisation that eliminating garbage cannot be reduced to the inverted mantra of “want not, waste
      FILE PHOTO  -  985 words
    • Article, Illustration
      Lock icon In search of creative urban solutions
      1268 24  -  By MINDY TAN BT interviews Khoo Teng Chye, executive director of the Centre for Liveable Cities, on what can be expected at the upcoming World Cities Summit. Question:What are some of the summit’s key objectives and what do you hope to achieve at this
      1,268 words
    • Article, Illustration
      Lock icon Scalable water solutions for industry
      1259 26  -  Singapore has an opportunity to demonstrate smarter resource management for the industrial sector By HEINER MARKHOFF The writer is president CEO, GE Water Process Technologies. COMPANIES are faced with a significant and growing challenge: global population is expanding at the most rapid pace in history.
      FILE PHOTO  -  1,259 words
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      318 21 13 IBM helped a German retailer boost customer satisfaction 18% with dressing rooms that actually suggest accessories. in Singapore, traffic is predicted with an accuracy of 90% 1 million cases of food poisoning in Canada led Manitoba to track the freshness of meat with help from IBM. Data analytics helped
      318 words
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      106 22 V \’V V 15 I >V Ta hs m. <r\. STO 0 t > f? k > V JURONG Consultants’ strive towards design excellence contributes to the transformation of cities and the built environment worldwide i|iiiiiiiin :!iiiii!!ii i iiiiii ii Our talent pool of Planners, Market Researchers, Architects, Urban Designers,
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      118 23 4 iii t-J s A ftemPr m I m o ;g: t ACTROS V" 'P. tSe W I U' .,M TSiL- Vf (31 -r vmmmm wjm.,. Power is nothing without efficiency. Mercedes-Benz trucks are designed with intelligent technology that optimises fuel efficiency. A proud sponsor of WasteMET 2012, Mercedes-Benz has
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      434 24 fr WasteMETAsia 2012 Asia’s International Waste Management Environmental Technology Exhibition and Conference 2-4 July 2012 Sands Expo Convention Center Marina Bay Sands, Singapore www.wastemetasia.sg z d A t WasteMET Asia Trade Exhibition Exhibition Days: 2 -4 July (Hall A) Exhibition Hours: 9.30am to 5.30pm DISCOVER the latest innovative equipment and
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      1135 25 Featured is Sembcorp’s membrane bioreactor industrial wastewater treatment plant on Jurong Island. Powering the city of tomorrow. Today. ADVERTORIAL ate itself by being able to treat multiple streams of high-concentration industrial wastewater directly from source, without requiring its customers to invest in pre-treatment facilities. The company also helps these industrial
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      117 26 SIEMENS i m lr lA Mill X 4 I Ull Building cities worth building a future in. Siemens answers help create sustainable cities places that are more lasting, livable and prosperous. Our commuter trains are getting people home faster in cities like San Diego. Our water treatment technologies are making
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  • AVIATION/SHIPPING
    • Article
      Lock icon UK banks drawn into fight vs Somali piracy
      761 27 Ransom funds from banks dwindling as 14-nation task force is formed to halt payments Bloomberg [LONDON] The fight against Somali pirates, responsible for hijacking about 170 vessels in four years, is starting to draw in British banks, until now a major source
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      Lock icon AA cuts pilots’ concession by 15% to US$315m
      711 27 Bloomberg [DALLAS] AMR Corp’s American Airlines (AA) reduced the value of concessions sought from its pilots union by 15 per cent, to US$315 million, to help speed its exit from bankruptcy as an independent carrier. Those terms were part of talks last
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      Lock icon Citi buys part of SocGen’s shipping loan book
      514 27 Reuters [PARIS] Citigroup has agreed to buy part of French bank Societe Generale’s shipping loan portfolio for an undisclosed price as the US bank takes advantage of slumping values in the shipping market. “Societe Generale Corporate Investment Banking and Citi have today
      Reuters; REUTERS  -  514 words
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      Lock icon Latam yet to decide on aircraft orders
      401 27 Bloomberg [SAO PAULO] Latam Airlines Group, formed in the merger of Chile’s Lan Airlines SA with Brazil’s Tam SA, has yet to decide the fate of its predecessors’ orders for competing wide-body aircraft from Boeing and Airbus SAS. The new carrier might choose
      Bloomberg  -  401 words
    • Article
      Lock icon The Business Times Shipping times
      3532 32 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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  • Page 27 Miscellaneous
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      329 27 CRYPTIC CROSSWORD Across 1 Person who does nothing but roulette, as at work (5-5) 6 Help the top socio-economic group gamble (4) 9 Looking embarrassed in company that’s the belief (5) 10 Doctor gets air circulating in between runs (9) 12 Complete change from ref orm i n g i
      329 words
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  • DINING OUT
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      Lock icon Where all deep-fried cravings are satisfied
      660 28  -  By Jaime Ee NEW RESTAURANT Han 331 North Bridge Road #01-04 Odeon Towers Singapore *****0 Tel: 6336 2466 Opening hours: Monday to Saturday. 12pm to 2.30; 6 to 10pm. Closed on Sunday. BEFORE Resorts World and Universal Studios came along and pretty much obliterated
      660 words
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      671 28 Bulkcommodity pricesfallacross theboard Alarmbellsring overglobal economyagain tw economy again I hN^k iMB t > rJj& W AT3 NOTICES HAW PAR CORPORATION LIMITED (Incorporated in Singapore) (Company Reg. No. *****0437M) LOST SHARE CERTIFICATES The undermentioned share certificates have been reported lost, mislaid or destroyed: Certificate Nos. In the Name of No.
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      151 28 1 1 W) 1 FIND THE ONES l U H V THAT FIT! s u Recruit the right people through CATS Recruit. Call 1800 289 8822 or email recruit@sph.com.sg to advertise. MATS rU L V RECRUIT f > C '1J I ]<TL CLA/bECOSJn Wine, Dine Hospitality Highlights 'f. Jfy i.
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      16 28 GRAB YOUR JULY ISSUE NOW! GETINSPIRED! INTHIS ISSUE? THEAMAZINGSTORY OFTHEWORLD’SFASTEST PARATHLETE GET FIT FAST! THEULTIMATEWORKOUT FORBUSYMEN!
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  • SINGAPORE STOCKS
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      Lock icon SGX MAINBOARD
      3191 29 Week ended: Jun 22 52-wks Last Vol Week Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company Last Sale Vol ('000) 123 92.5 AIMSAMPIReit 120 +4.5 2053 120.5 116 119.5 120 6.9 11.5 535.2 High Low Buyer
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      Lock icon SGX CATALIST
      250 30 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last 4.6 1.3 t Advanced System 1.9 unch 2562 2 1.8 1.8 2 25.2 Week Last Quote Div Gr Yld Net M Cap High
      250 words
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      Lock icon STRAITS TIMES INDEX STOCKS
      114 30 Stock name Close Change CapMallsAsia 1.485 -0.025 CapitaLand 2.640 -0.040 CapitaMall 1.810 +0.010 CityDev 10.660 -0.050 ComfortDelGro 1.490 +0.005 DBS Grp 13.660 -0.090 F&N 6.800 -0.100 GLP 2.060 -0.020 Genting SP 1.435 +0.015 Golden Agri 0.640 Stock name Close Change HK Land 5.590 -0.090 JMH 49.790
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      Lock icon STOCKS ASIA
      2214 30 Transaction date: Jun 22 HONG KONG Vol HK$ +/-'000 Aeon Credit 6.60 unch 0 Aeon Stores 23.30 unch 0 Angang Steel 4.30 -0.10 3480 Anhui Conch 22.05 -0.55 7686 Anhuiexpresswa 3.37 0.08 2583 Asia Satellite 20.25 -1.00 108 Asm Pacific 96.70 -0.25 319 Bank Of E Asia 25.90
      2,214 words
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      Lock icon GLOBALQUOTE
      216 30 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 49.5 28.5 AVJennings A30 -1.5 8 30 29 29 37.5 3.6 11.7 2.4 78.1 46 25.5 Genting HK US$ US33 unch 8842 33.5 32 32.5 33 2172.9
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 30 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 7 2 0 0 0 7 7 2 Manufacturing 78 67 38 11 14 10 89 81 48 Commerce 37 20 16 5 5 3 42 25 19 Tpt/Stor/Comms 32 10 3
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      Lock icon SGX ETF
      1114 30 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 113 ABF SG Bond ETF 119 -0.1 20 121.9 119 118.6 119 543.2 122.4 122.4 CIMB APAC Div 100S$D 122.4 122.4 122.9 103 95.8 CIMB
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 30 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 52,577 52,577 227,670 227,670 Manufacturing 1,125,472 143,171 1,268,643 766,619 8,871 775,490 Commerce 1,273,668 52,674 1,326,342 684,751 2,611 687,362 Tpt/Stor/Comms 297,146 64,474 361,620 444,346 16,767 461,113 Finance 57,798 85,388 143,186 519,808 32,328 552,136 Construction 336,595 37,524
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      26 30 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. The Business Times
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX FUTURES
      639 31 Jun 22 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 8733.50 8830.34 8731.79 Sep12 8830.00 8885.00 8700.00 8780.00 ***** *****3 Dec12 8795.00 8795.00 8795.00 8715.00 2 6457 MSCI TAIWAN INDEX FUTURES SPOT 257.59 257.59 255.54 Jun12 258.30 259.60 253.90 255.30 ***** *****7 Jul12 251.30 252.30
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 31 In local curr In S$ In US$ dy yr dy yr dy yr Jun 22 Index Change Change Change Change Change Change World Preliminary 852.8 -0.1 2.8 -0.1 0.2 -0.3 1.8 EAFE Preliminary 681.9 -0.7 0.0 -1.0 -3.8 -1.2 -2.3 Europe Preliminary 1013.5 -0.7 -1.3
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      Lock icon SMX MARKET UPDATE
      127 31 As on 22 June 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in lots) PRECIOUS METAL INDIA GOLD (E-GOLD) FUT AUG2012 521.45 517.85 523.10 1005 INDIA GOLD (E-GOLD) FUT OCT2012 521.80 521.70 528.40 31 CURRENCY EUR-USD FUT SEP2012 1.2592 1.2530 1.2576 2484 BASE METAL COPPER FUT JUL2012
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    • Article
      Lock icon CHICAGO BOT
      107 31 Jun 22 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 12 1442.50 1438.50 1464.25 1435.00 Aug 12 1426.00 1423.00 1447.75 1419.00 Sep 12 1394.25 1391.50 1412.25 1386.25 Nov 12 1375.50 1371.25 1390.50 1364.50 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 12 49.74
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    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 31 CRUDE OIL PRODUCTS Jun 21 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 90.58 -4.14 WTI (Near Mth) 78.28 -2.57 Dubai (1-Mth F) 90.34 -3.43 Tapis blend 95.90 -4.47 Minas 97.70 -3.97 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 76.28 -2.86 Jet Kerosene 108.10 -2.29 US$/barrel OpecOil Basket
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    • Article
      Lock icon US$/S$ FORWARD RATES
      22 31 Jun 22 S$ Bid Offer 1-month 1.2780 1.2782 2-months 1.2779 1.2782 3-months 1.2777 1.2780 6-months 1.2764 1.2767 Source: OCBC
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    • Article
      Lock icon LIFFE
      80 31 Jun 22 COCOA (£/tonne) Close Prev High/Low Jul 12 1501 1516 1521/1498 Sep 12 1475 1492 1490/1474 Dec 12 1445 1462 1462/1444 Mar 13 1427 1446 1447/1427 COFFEE(US$/tonne) Close Prev High/Low Jul 12 2016 2059 2056/2013 Sep 12 2032 2079 2080/2028 Nov 12 2033 2073 2073/2030 Jan 13 2018
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      Lock icon LONDON METALS
      66 31 Jun 22 Jun 22 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1824.75 1830.75 3 months 1862.00 1870.00 Copper, Grade A(US$/tonne) Cash 7317.00 7342.50 3 months 7310.00 7341.00 Lead(US$/tonne) Cash 1798.50 1809.75 3 months 1816.00 1828.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.00 *****.00 3
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    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1564 31 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 1 146 369 8.00 23 Conv Aztech Grp W*****3 0.1 -0.2 450 1 20 105 98.00 5 Baker Technology Ltd W*****6 0.6 -0.4 113 1 32 12
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    • Article
      Lock icon INTERBANK CROSS RATES
      470 31 Jun 22 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.031 6.374 0.799 7.771 57.338 94.912 0.805 11.611 3.195 1.276 94.472 42.471 1.280 8.407 0.960 29.982 31.856 0.642 1.001 Canada 0.970 6.185
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    • Article
      Lock icon SIBOR
      54 31 Jun 22 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 1.***** 0.***** SWAP Offer rates (S$) 0.***** 3 mths 0.***** 0.***** SWAP Mid rates (S$) 0.***** SWAP Mid rates (S$) 1 yr 0.*****
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    • Article
      Lock icon PRECIOUS METALS
      136 31 Jun 22 GOLD(US$/oz) Jun 21 Jun 22 Hong Kong 1605.20 1576.00 Jun 22 Jun 22 Jun 21 London 1561.50 1577.56 1562.30 1578.33 Source: Thomson Reuters CAST BAR Jun 22 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 155 64 5gm 440 322 10gm
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    • Article
      Lock icon GOVERNMENT SECURITIES
      89 31 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-17 108.92 109.05 109.05
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    • Article
      Lock icon PALM OIL
      57 31 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 3007.00
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 31 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 1.5610
      154 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      123 31 As at 9am Jun 22 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
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    • Article
      Lock icon INTERBANK RATES
      154 31 Jun 22 $S Offer Bid 0vernight 0.03 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.01 US$ 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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      37 32 Experienced ship maintenance services wanted. in°t“ 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
      37 words
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      114 33 TO ADVERTISE IN .The Business Times Shipping Times CALL JOE WONG FREIGHT FORWARDER urgently needed by shippers I TO ADVERTISE, CALL JOE WO IMG AT 9620 1327 Can they find your services here in the Shipping Times? Celebrate Your Project Completion Come publicise your Project Completion, Ship Christenings Delivery of
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  • BizIT THE BUSINESS OF INFOCOMM TECHNOLOGY
    • Article, Illustration
      Lock icon E-payment edge for rural nations
      902 34  -  Take-up of newer methods in advanced economies like US, S’pore remains stunted, reports VICTORIA HO reportsVICTORIA reportsVICTORIA HO WHEN one looks for the future of digital payments, it's natural to look at advanced economies. The new innovations, however, are happening in rural parts of the
      902 words
    • Article, Illustration
      Lock icon 3 in 4 Singaporeans own smartphones
      888 34  -  By CLEMENT TEO [SINGAPORE] Swedish telco equipment vendor Ericsson has released data that showed that Singapore leads the world with the greatest proportion of Internet users owning smartphones and the tablet computer. According to the global study, three in four Singaporeans have a smartphone,
      AP  -  888 words
    • Article
      Lock icon Banking on the customer
      901 34  -  Banks need to develop a customer-centric model to replace the traditional siloed approach <you say> By VINCE LEAT The writer is executive, enterprise marketing management, banking telecommunications, IBM Asean CUSTOMERS today are on the offensive. They want a bank that can offer the right products and
      901 words
    • what’s up
      • Article
        Lock icon Equinix expands second DC
        43 34 EQUINIX is spending US$28.2 million to expand its second Singapore data centre. The new expansion will be available by end-year, bringing 3,256 new cabinets to vendors and tenants keen to tap services or co-locate equipment in its data centre.
        43 words
      • Article
        Lock icon Camera-less BlackBerry
        18 34 RESEARCH in Motion has launched a camera-less BlackBerry Curve 9360, running on the BlackBerry 7 OS.
        18 words
      • Article
        Lock icon Wireless Nakamichi headphones
        45 34 NAKAMICHI has launched a 2.4GHz wireless rechargeable headphone, the model NW501. It operates at a distance of up to five metres from its base station and comes in black and red, and white and red, colour combinations. It is priced at $169.
        45 words
      • Article
        Lock icon Two upcoming Motorola phones
        64 34  -  Compiled by VICTORIA HO MOTOROLA Mobility has announced its Razr Maxx and Razr V phones here. Both are Android devices, running Android 4.0. The Maxx is a 4.3-inch display device, and will come to our shores sooner, at the end of this month. The Razr V
        64 words
    • Article, Illustration
      Lock icon Consumerisation overwhelming IT
      1163 35  -  Proliferation of mobile devices and multiple OSes posing a grave challenge, writes AMIT ROY CHOUDHURY IT managers are struggling to enforce security policies and maintain control as they get overwhelmed by the wave of consumer technology and devices flooding the enterprise, according to a security expert. Speaking
      1,163 words
    • Article
      Lock icon Migration to 4G a big opportunity for ZTE
      797 35  -  Upgrade will be a chance to showcase firm’s technologies By VICTORIA HO [SINGAPORE] ZTE has been quietly making inroads into some of the world’s largest markets in the past decade, according to its Singapore chief. Speaking to BizIT on the sidelines of
      797 words
    • Article, Illustration
      Lock icon PayPal and the m-commerce market in S’pore
      888 35  -  By TIMOTHY LOH [SINGAPORE] The mobile commerce (m-commerce) market is growing exponentially in Singapore, but merchants are not keeping pace with changing consumer preferences, says Rahul Shinghal, director of PayPal Mobile Asia Pacific. The e-payments company, however, intends to change that, with two
      PAYPAL  -  888 words
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      Lock icon Page 36 Advertisements Column 1
      187 36 Montblanc 190 YEARS AGO A MAN BET ON HORSES AND CHANGED WATCHMAKING FOREVER. v W jgi 4 off// V# z v! O O vy. r MONTBL/ T x&M I m o c £E >J r r CO 25 z f I f J CO o Wt ..i. V. J H'
      187 words