The Business Times, 23 July 2012

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Total Pages: 30
1 30 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfSl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 120/08/2011 Monday, July 23, 2012
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  • 762 1  -  Investors like its easier accessibility and higher liquidity compared to equities, bonds By SIOW LI SEN [SINGAPORE] With other investment products on shaky ground, the seriously rich have been increasing their bets in the foreign exchange (forex or FX) market. So far this
    BLOOMBERG  -  762 words
  • MARKETS DIGEST
    • 57 1 Weekly Change ST INDEX 3,015.53 +19.97 KL COMP 1,643.00 +16.62 NIKKEI 225 8,669.87 -54.25 HANG SENG 19,640.80 +548.20 SET INDEX 1,208.55 -1.74 JAKARTA COMP 4,081.20 +61.53 MANILA COMP 5,210.89 -3.63 SEOUL COMP 1,822.93 +10.0 SHENZHEN B 618.81 -9.33 MUMBAI IND 17,158.40 -55.30 DOW 12,822.57 +45.48 NASDAQ 2,925.30 +16.83 S&P
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    • 18 1 SINGAPORE 5.38 MALAYSIA 6,55 HONG KONG 5.00 INDONESIA 0.50 TAIWAN 5.036 JAPAN 1.475 KOREA Source: Bloomberg
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    • 49 1 us$ s$ US$ (S$ per US$) 1.255 (US$/S$ per 1.569 1.969 EURO (US$/S$/E) 1.226 1.538 Foreign currency per US$ S$ YEN 78.60 62.60 RM 3.152 2.512 HK$ 7.756 6.181 BAHT 31.69 25.26 RUPIAH 9,475 7,551 RENMINBI 6.374 5.079 INDIAN RUPEE 55.15 43.95 A$ 0.960 0.765 NZ$ 1.246 0.993
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  • 880 1  -  Both cities keen to become an offshore yuan hub after HK By LYNETTE KHOO [SINGAPORE] London and Singapore are seen as frontrunners in the race for a bigger slice of the yuan business as the Chinese currency continues its internalisation path. Both cities have
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  • Page 1 Advertisements
    • 113 1 DINING OUT A welcome Italian addition PAGE 23 YOUNG INVESTORS’ FORUM Are radical innovations really necessary? PAGE 11 BizIT Contactless payment jigsaw missing the retailer piece PAGE 30 VIEWS FROM THE TOP Bright spots in the economy pages 12-13 BT WEBSITES For breaking news, go to businesstimes.com.sg. For personal finance
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  • TOP STORIES
    • 571 2 Wealthy develop a new respect for forex WITH other investment products on shaky ground, the seriously rich have been increasing their bets in the foreign exchange markets. So far this year, equities have been volatile, commodities have turned negative and fixed income is losing its sheen. But private
      571 words
    • 734 2  -  With a lot at stake in APB, Heineken seems determined to gain the upper hand COMMENTARY By EMILYN YAP REJECT Heineken NV’s offer for Asia Pacific Breweries (APB), and the Fraser and Neave (F&N) board may end up inviting a bid for the
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    • 767 2  -  Move to save Spain seen likely to drag euro even lower WALL STREET INSIGHT By ROB CURRAN AFTER two weeks of earn-ings-season vacation, US traders return to their regular occupation of worrying about the euro this week. The Dow Jones Industrial Average gave back a chunk
      767 words
    • 488 2 Move sparks talk he may be planning sale of newspapers NYT [LONDON] After more than a year of scandal in his British newspaper empire, Rupert Murdoch has resigned his directorships in a string of companies that control titles that include The Sun tabloid, The Times
      NYT; REUTERS  -  488 words
    • 517 4 His election victory is a major boost for the ruling Congress party Bloomberg [NEW DELHI] Pranab Mukherjee was elected as the next president of India, the world’s most populous democracy, capping a fourdecade career in politics and delivering the ruling party a hard-earned poll success.
      Bloomberg  -  517 words
    • 613 4  -  Uniquely Singapore in 3rd place overall with dramatic 2nd place finish in last race By VINCENT WEE THE Singapore Clipper team pulled out all the stops at the tail end of the 2011-12 Clipper Round the World Yacht Race, winning the penultimate race
      PHOTOS: onEDITION  -  613 words
    • 791 4  -  S’pore scores well in some measures but lags in others By AMIT ROY CHOUDHURY [SINGAPORE] Is Singapore ready to stake its claim on the high table as a knowl-edge-based, innovationdriven, economic power? A recent study seems to suggest it is. In the
      791 words
    • 754 4  -  Case involves Hangzhou-S’pore Eco-Park project By LYNETTE KHOO [SINGAPORE] For the first time, the infighting that had rocked the Singapore consortium behind a SinoSingapore bilateral project will be bared in public as the dispute goes before a judge. The case involving parties in
      754 words
  • Page 2 Advertisements
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      431 words

  • Page 3 Advertisements
    • 198 3 AWARD WINNER GEOr S 0i A JANEIRO S* v 4^0 I 0 o c a v 0 S' 2> r i A 23 24 <V 0 ■V 7 <5 O C V i v T .A o J> ifi CO 0 3 7 <5 C* < 5 w X >
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  • Page 4 Advertisements
    • 68 4 For Rent Immediate Prime CBD 8,000 sqft Short Long Term Fully Fitted Renovated Fully Furnished.24 Mrs Aircon Owner 9631 6939 ARB Investment 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
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    • 82 4 U.S. LICENSING EXPANDING IN SINGAPORE AND MALAYSIA Educational programs focused on creativity, innovation entrepreneurship for corporate executives, schools and children ages 5-15. Seeking Master Licensees Single Center Licensees Licensee US$28,000 (Single Center) Master Partner US$50,000 (Single Area) Presentation and meetings will be held in Singapore on: 30 th July (Monday)
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  • Page 5 Advertisements
    • 481 5 FOR THOSE WHO DO. TM wmm ThinkPads are exceptionally engineered to boost productivity, enhance mobility and reduce your total cost of ownership. We put in a lot of thought when designing the ultimate business notebooks to ensure you get reliability, quality, durability and high performance. SPILL-RESISTANT KEYBOARD SHOCK-ABSORBING ThinkPad keyboards
      481 words

  • SINGAPORE MARKETS
    • 621 6  -  STOCKS R SIVANITHY Senior Correspondent DESPITE poor economic numbers all over the world, stocks are in play. How long this anomaly can last is anybody’s guess, but there are a few observations or educated guesses that can be made. First, volatility is set
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    • 526 6 CURRENCIES Bloomberg [NEW YORK] The euro fell for a fourth straight week against the yen last week, touching the lowest level in almost 12 years, as signs that the European debt crisis is worsening dampened demand for the shared currency.
      Bloomberg  -  526 words
    • 1524 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 Ind REIT 2.00 2.00 2 10.00 12.70 1.42 1.27 Amtek Engineering Ltd 1.67 1.60 6 0.07 7.21 0.70 0.61 ARA Asset Management 1.38 1.38
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    • 4 6 WEEKLY
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    • 65 6 Jul 20 VALUE CLOSE BT OB/OS -93.00-189.00 BT CADI -*****.00 -91.00 BT 10-day MA -*****.00 -10.00 FTSE ST Mid Cap 697.00 -5.55 FTSE ST Small Cap 458.54 -0.63 FTSE ST All Share 729.28 -3.55 FTSE ST China Top 204.57 -1.57 FTSE ST China 226.88 -1.28 FTSE ST
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    • 58 6 VOLUME ElektromotiW*****0 1,665,366,000 HLH Grp 412,341,000 GSH Corp 369,090,000 Golden Agri 306,583,000 Elektromotive 269,836,000 ChinaTaisan 245,932,000 Genting SP 208,709,000 Thai Beverage 164,962,000 Sakari 161,879,000 Noble Grp 161,393,000 VALUE($) DBS Grp 377,247,979 SingTel 358,472,439 OCBC Bk 289,290,257 Keppel Corp 280,140,336 Genting SP 278,655,814 Golden Agri 231,104,765 UOB 221,592,697
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    • 550 6 COMMODITIES AFP [LONDON] Oil prices hit two-month highs last week, driven by Federal Reserve stimulus hopes and Middle East unrest, while soyabeans soared to a record high as US supplies were hit by drought. Other commodities enjoyed mixed fortunes as traders tracked
      AFP  -  550 words
    • 121 6 BY CENTS CLOSE UP Asia Pac Brew 4200 725.0 20.9 IS S&P500 ***** 332.5 2.0 DBXT SPASX200 10US$ 3329 227.1 5.7 DBXT MSKorea 10US$ 5260 213.3 3.3 DBXT iBoxxKR 5US$ ***** 195.7 1.2 Lyxor EmergingMkts 1 930 141.8 13.8 SPDRS S&P 500 10US$ ***** 125.5 0.7 DBXT FTChina25 10US$
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    • 125 6 BY CENTS CLOSE DOWN JSH 3087 -185.7 -4.6 JMH 5132 -180.7 -2.7 DBXT S&P Short 10US$ 3709 -126.7 -2.7 Lyxor AsiaCS 10US$ 5228 -74.0 -1.1 Venture Corp 771 -36.0 -4.5 DBXT iBoxxSvEu 5US$ ***** -30.1 -0.1 OCBC Bk 4.5%NCPS 100 ***** -24.0 -0.2 Petra 221 -24.0 -9.8 Lyxor India
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    • 5 6 WEEKLY
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  • COMPANY NEWS
    • 857 7  -  HOCK LOCK SIEW By VEN SREENIVASAN LAST month, China’s Ministry of Railways (MOR) lifted the year-long ban on high-speed train cars by opening bids for 126 units of 7,200kw high-power locomotives. After a year-long freeze on contracts, MOR and state-owned rail
      Compiled by BT  -  857 words
    • 294 7 Jul 20 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
      294 words
    • 314 7 COMPANY MEETING PLACE DATE TIME PSL Hldgs E 58 Sungei Kadut Drive 23-Jul 10.00am YongMao Hldgs A 81 Ubi Avenue 4 #09-01 UB. One 23-Jul 2.00pm Jason Marine A 194 Pandan Loop #05-27 Pantech Biz Hub 24-Jul 11.00am Mapletree Comm T A 10 Pasir Panjang Road Mapletree Business
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    • 2057 8  -  UMS Holdings founder-CEO Andy Luong and CFO Stanley Loh tell Mano Sabnani about the challenges facing the group COMPANY INSIGHT Mano Sabnani Mano Sabnani, a veteran writer, former editor and investment banker, is with the Centre For Applied Research, SIM University SGX-listed UMS Holdings went
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    • 1787 8  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Ltd TRADING among directors remained low last week with only 11 companies recording 20 transactions worth $5.3 million. The number of firms and trades were consistent with the previous week’s 10
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  • Page 7 Advertisements
    • 470 7 Deutsche Bank db X-trackers ETFs 'H V Over USD250m assets 1 The largest China A-shares ETF available in Singapore 2 Exposure to a diversified China A-shares index Listed in USD on SGX UCITS compliant 'pevfotm. 1 Source: db X-trackers website, as of 31 May 2012 2 Source: Deutsche Bank Research,
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  • Page 9 Advertisements
    • 202 9 kitchen culture We’re celebrating! ST anniversary of Initial Public Offering (IPO) on SGX-Catalist, 22 July 2011. class portfolio of finest kitchen systems, appliances, wardrobes furniture, in customer satisfaction as the total premium kitchen solutions provider, preferred choice by leading developers, architects interior consultants. Thank you for making Kitchen Culture your
      202 words

  • SINGAPORE NEWS
    • 606 10 ASK IN last Monday’s “Ask Stamford Law” column, a shareholder asked whether he had the right to inspect the minutes of board meetings. Stamford Law’s partner Ng Joo Khin erred in saying that shareholders have a right to copies of the minutes of
      606 words
    • 542 10  -  Smaller bonuses will lift pay packages by 1.5% but inflation projected at 4.2% By KENNETH FOO REAL wages are expected to dip into negative territory this year on the back of smaller pay perks and steep inflation, a recent survey showed. The survey by
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    • 500 10  -  By KALPANA RASHIWALA PARC Centros blazed the trail in private homes sales last week. More than 370 of the condominium project’s 618 units are said to have found buyers. This means that that over 60 per cent of the 99-year
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    • 849 10 Payment Ex Books Pay Ann (cts) date close date date AEM Hldgs aw 0.350 01-Aug 03-Aug 17-Aug 14-May AIMS AMP Cap In REIT ag 2.500 30-Jul 01-Aug 18-Sep 19-Jul Ascendas REIT ES ao 1.770 23-Jul 25-Jul 28-Aug 18-Jul Ascendas REIT ES ad 0.030 23-Jul 25-Jul 28-Aug 18-Jul Azeus
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    • 342 10 SINGAPORE Health Minister Gan Kim Yong yesterday stressed the importance of insurance in a country’s healthcare financing. He said the government wants to encourage lower-income families to be covered by its insurance scheme, MediShield, Channel News Asia reported. Mr Gan said this
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  • Page 10 Advertisements
    • 1460 10 HAVE a pressing question about a corporate-law-related issue that your company is facing? Lawyers from Stamford Law will provide their expert advice and answers to your queries on a weekly basis. All you need to do is send us an e-mail with your query at btnews@sph.com.sg and include particulars such
      1,460 words

  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 849 11  -  Do entrepreneurs need radical innovations to woo consumers? New research suggests otherwise, reports MRINALINI REDDY reportsMRINALINI MRINALINI REDDY FOR many companies, scoring a competitive advantage entails pouring millions of dollars into research and development into revolutionary new products and technologies. But new research by INSEAD assistant
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    • 1064 11  -  Edward Kok didn’t let his disability prevent him from setting up his own IT company, reports TIMOTHY LOH STARTING YOUNG reportsTIMOTHY reportsTIMOTHY LOH DEAF he may be, but Edward Kok is certainly hearing and responding to the call for data
      YEN MENG JIIN  -  1,064 words
  • Page 11 Advertisements
    • 31 11 If you’re between the ages of 17 and 30, and think you’ve got an interesting investing or entrepreneurial story to share, do email btyif@sph.com.sg with ‘Starting Young’ in the subject heading
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    • 157 11 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
      157 words

  • VIEWS FROM THE TOP
    • 4221 12 THIS WEEK’S TOPIC Do you agree with expectations of generally weak corporate results for the quarter just ended? What does your view from the ground tell you about the outlook for the second half of 2012 for your industry and for Singapore generally? Gary Lai
      STRAITS TIMES FILE PHOTO  -  4,221 words

  • Page 13 Advertisements
    • 83 13 SINGAPORE SERVICE EXCELLENCE MEDALLION Ac AT AT AT AT AT AT AT I** I ;Vv tmrm \r j\r jy /V /JLSA^aSI a r THE VERY BEST SERVICE EXCELLEMCE J A The Singapore Service Excellence Medallion recognises deserving organisations and individuals with exemplary standards and achievements in the realm of service
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  • ECONOMY WATCH
    • 1006 14 Most economists believe 2013 should present a better economic picture Reuters [LONDON] The global economy will labour against a dismal tide from recessionhit Europe for the rest of this year, but 2013 should bring better growth, according to Reuters polls of hundreds of economists
      Reuters; AP  -  1,006 words
    • 571 14 HSBC scandal comes on the heels of Libor rate-rigging affair AFP [LONDON] A scandal erupting at Europe’s biggest bank HSBC has added to concerns over the state of Britain’s financial sector amid the Barclays rate-rig-ging affair and as the industry faces a major shake-up.
      AFP  -  571 words
    • 560 14 Stores face changing consumer trends, online shopping AFP [BERLIN] With a string of high-profile bankruptcies and thousands of layoffs, the German retail sector is in upheaval as it struggles with the challenges of changing customer trends and online shopping. The sector was prospering
      AFP  -  560 words
  • Page 14 Advertisements

  • MALAYSIA
    • 502 15 Move comes amid global probe into manipulation of Libor Bloomberg [KUALA LUMPUR] Malaysian banks plan to impose new rules on the local interbank lending market amid a global probe into manipulation of benchmark borrowing costs that led to a record fine
      Bloomberg; BLOOMBERG  -  502 words
    • 1681 15 VOL Jul 20 RM +/-(‘000) VOL Advance Synerg 0.16 unch 176 Adventa Bhd 1.92 -0.01 147 Ae Multi Hldgs 0.22 0.01 604 Affin Holdings 3.70 -0.05 1648 Ahmad Zaki Res 0.71 unch 419 Abric Bhd Airasia Bhd 3.77 unch 3675 Alliance Finan 4.25 -0.03 3019 Aluminium Co 0.85
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    • 596 15  -  State govt rejects suggestion that Selangor is facing a water crisis MALAYSIA INSIGHT PAULINE NG KL Correspondent MALAYSIA’S wealthiest state, Selangor, is facing a water crisis, according to Syarikat Bekalan Air Selangor, or Syabas. The country’s biggest water concessionaire last week suggested water
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  • Page 15 Advertisements
    • 95 15 Ill SINGAPORE MEDIATION LECTURE 2012 The Man in the Middle: Lessons Learnt for International Mediation Speaker Mr S R Nathan Former President of the Republic of Singapore Wednesday, 29 August 2012 5.00 pm to 7.30 pm (Registration starts at 4.30 pm) Venue Supreme Court Auditorium Level B2, 1 Supreme Court
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  • GREATER CHINA/INDIA
    • 620 16 Regulator also urges companies venturing abroad to play down national interest Bloomberg [BEIJING] Chinese companies making foreign acquisitions must obey market principles, follow “international rules of the game” and play down national interest, the nation’s foreignexchange regulator said. With China facing a window of
      Bloomberg  -  620 words
    • 428 16 10 people killed; storms also lash other parts of China AP [BEIJING] The heaviest rain to hit Beijing in six decades killed at least 10 people and left cars and buses submerged, and 10 other storm deaths were reported elsewhere as China
      AP; REUTERS  -  428 words
    • 453 16 Bloomberg [NEW DELHI] Maruti Suzuki India Ltd, the country’s largest carmaker, has locked out workers at a factory near New Delhi and ruled out restarting production until a probe is completed into rioting that led to the death of a manager.
      Bloomberg  -  453 words
  • Page 16 Advertisements
    • 856 16 THE POWER OF EFFECTIVE BRANDING, SELLING THINKING STRATEGIES Who should attend: Senior Management and Professionals in Brand Management, Public Relations Advertising, Sales Marketing, Business Development, Entrepreneurs and individuals looking to market and brand their identity FULL-DAY WORKSHOPS Critical Thinking Sun Tzu’s Art of War Style FULL-DAY SEMINAR Tuesday, 24 July,
      856 words

  • WORLD
    • 736 17 This is thanks to its reputation as a safe haven for investments AP [BERLIN] Germany has emerged as one of the biggest beneficiaries of the European financial crisis. While other countries in the 17-country group that use the euro have battled against investor
      AP  -  736 words
    • 590 17 AFP Reuters [HOCKENHEIM, Germany] Fernando Alonso extended his lead in this year’s Formula One drivers’ world championship when he drove to a flawless victory for Ferrari in the German Grand Prix. The 30-year-old Spaniard started from pole position and dominated the 67-lap
      AFP; Reuters  -  590 words
    • 520 17 AFP Reuters [MADRID] A eurozone bailout for Spain’s banks and a tough batch of pay cuts and tax hikes have not been enough to save the country from the risk of a full-blown bailout, analysts warn. Squeezed between public outrage at its austere economic reforms
      AFP; Reuters; REUTERS  -  520 words
    • 375 17 AP Reuters [ATHENS] The head of Greece’s key privatisation agency resigned, citing lack of support from the new coalition government and warning that delays have left the privatisation programme well off-target. In a blunt letter made public on Friday, Costas Mitropoulos said
      AP; Reuters  -  375 words
    • 737 18 Seven of the world’s 10 big LNG projects are being built Down Under AFP [SYDNEY] Australia is set to become the world’s biggest liquefied natural gas producer, with analysts predicting it will overtake Qatar by 2020 as it unlocks reserves that could last
      AFP  -  737 words
    • 1006 18 Washington Post [SAN FRANCISCO] Three weeks after California’s ban on selling and producing the fatty duck liver, chefs are hosting clandestine events, offering it as a free side dish or selling it to regulars without listing it on the menu. In an unscientific
      Washington Post; REUTERS  -  1,006 words
    • 825 18 AFP [MANILA] As a Philippine property boom gathers pace, even Paris Hilton, Donald Trump and highfashion house Versace are getting a piece of the action. The good times are into their fourth year, fuelled by steady economic growth, Western firms offshoring jobs to the
      AFP  -  825 words
    • 440 18 AP [BANGKOK] Myanmar’s reformist president yesterday began a twice-postponed visit to neighbouring Thailand expected to focus on economic ties. President Thein Sein arrived for his first trip to Thailand since he became president in March last year and initiated political
      AP  -  440 words
    • 1229 19 It increases the compensation pool from US$40m to US$62m cash Bloomberg [NEW YORK] Nasdaq OMX Group Inc, the second-big-gest US stock exchange owner, revamped its proposal to compensate brokers that lost money in the public debut of Facebook Inc, boosting the payout to US$62
      Bloomberg; AFP  -  1,229 words
    • 447 19 Workers allegedly made to under-report radiation exposure AP [TOKYO] Japanese authorities are investigating subcontractors on suspicion that they forced workers at the tsunami-hit nuclear plant to under-report the amount of radiation they were exposed to so that they could stay on the job
      AP  -  447 words
    • 665 20 It failed to head off global, eurozone crises, suppressed info: Peter Doyle Reuters [WASHINGTON] A veteran economist at the International Monetary Fund has resigned in protest at what he calls the IMF’s failure to head off the global financial meltdown and eurozone
      Reuters  -  665 words
    • 666 20 WP [MOSCOW] While the eurozone stands on the precipice of financial disaster, Russia looks on with a safely balanced budget, very little debt, a steady ruble and a shudder of fear. Russia’s economy relies on oil 60 per cent of gross domestic product
      WP; BLOOMBERG  -  666 words
    • 305 20 Oil trader Addax Oryx shrinks desk Reuters [GENEVA] Addax Oryx, the Swiss group that was once a dominant trader in the west African market, is shrinking trading fast as it shifts focus after failing to find a buyer for key assets. AOG, chaired by Jean Claude Gandur who was catapulted
      Reuters  -  305 words
    • 754 20 Offers accompanied at times by promise of fake paperwork Reuters [LONDON] Obscure private firms are offering Iranian crude oil at steep discounts to European oil traders as Teheran seeks ways to restore oil export flows hit by Western sanctions. Traders who
      Reuters  -  754 words
    • 785 20 Bloomberg [NEW YORK] Facing a growing deficit and political demands to cut spending, the Obama administration is planning to scale back US support of global Aids programmes and pushing to unload some of the burden on other countries. It’s a shift
      Bloomberg; AFP  -  785 words
    • 855 21 Over a dozen erosion-prone hot-spots found along NSW coast AFP [SYDNEY] When Elaine Pearce left Sydney for the seaside peace of Old Bar in the state of New South Wales 12 years ago she was assured her new house was a
      AFP  -  855 words
    • 737 21 AFP [LOS ANGELES] The Hollywood studio behind the Batman movies decided not to publish weekend box office figures after the Colorado massacre a move swiftly followed by rivals, wary of offending the public. Warner Brothers also cancelled red carpet events for the
      AFP  -  737 words
    • 446 21 Bloomberg [SYDNEY] Australia, the developed world’s biggest per-capita polluter, would have been “increasingly exposed” without passing legislation charging companies for their carbon emissions, Treasurer Wayne Swan said. More than 90 per cent of the countries in the Organisation for Economic Cooperation and Development are
      Bloomberg  -  446 words
    • 459 21 AP [DETROIT] A manufacturing problem at a company that makes fuel lines forced Ford to recall thousands of its brand-new Escape small SUVs and tell owners to stop driving them right away. Ford Motor announced the recall last week, saying there
      AP  -  459 words
  • Page 17 Advertisements
    • 1023 17 KAT3 NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF CHIC SINGAPORE HOLDING PTE LTD (IN MEMBER'S VOLUNTARY LIQUIDATION! (Company Registration No. *****1477R) NOTICE TO SUBMIT PARTICULARS OF DEBTS OR CLAIMS Notice is hereby given that the creditors
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    • 172 17 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF ABN AMRO FUND SERVICES (SINGAPORE) PTE. LTD. (IN MEMBER'S VOLUNTARY LIQUIDATION) (Company Registration No. *****5158G) NOTICE TO SUBMIT PARTICULARS OF DEBTS OR CLAIMS Notice is hereby given that the creditors of the abovenamed Company, whose debts
      172 words
    • 182 17 IN THE MATTER OF THE COMPANIES ACT CAP 50 AND IN THE MATTER OF GREENLAND DEVELOPMENT PTE. LTD. Co. Reg. No. *****6080Z (In Members’ Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act Cap 50 that the Final Meeting of the
      182 words


  • Page 19 Advertisements
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  • AVIATION/SHIPPING
    • 576 22 Cargo ships faced up to 25 days of waiting at ports on India’s east coast Reuters [SINGAPORE] A congestion at Indian ports is delaying corn and rice shipments to Asia and Africa, dealing a fresh blow to buyers stung by record-high global grain prices
      Reuters  -  576 words
    • 303 22 Reuters [LONDON] The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry commodities, fell on Friday as sluggish shipping activity in the Atlantic and Pacific basins weighed on rates. The main index, which factors in the average daily earnings of
      Reuters  -  303 words
    • 524 22 Bloomberg [SEATTLE] Boeing Co, whose new 787 Dreamliner was more than three years behind schedule, is making progress on smoothing out the plane’s production process and the penalties it must pay to customers for the delays. The new final-assembly line in South Carolina has
      Bloomberg; REUTERS  -  524 words
    • 490 22 Project will increase Russian LNG exports to Asian countries Reuters [SABETTA, Russia] Novatek, Russia’s No 2 gas producer, has started building a US$30 billion Arctic port designed as a gateway for liquefied natural gas (LNG) exports, signalling a drive by Moscow to diversify away
      Reuters  -  490 words
    • 397 22 Deal will cut number of express delivery services: commission Bloomberg [FRANKFURT] United Parcel Service Inc, the world’s biggest package-delivery company, faces an in-depth European Union antitrust review over its bid for TNT Express NV. The deal may reduce the number of so-called
      Bloomberg; FILE PHOTO  -  397 words
    • 254 22 SGX '000 Jul 20 S$ +/-Vol CH Offshore 0.41 -0.01 70 Chuan Hup Hldg 0.23 0.01 139 Cosco Corp 1.00 unch 3657 s$ First Ship Lea 0.17 unch 119 Freight Links 0.07 unch 1449 Grand Banks unch unch 0 Jaya Hold Ltd 0.57 -0.01 46 K1Ventures 0.14 unch
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    • 3419 27 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE U.S.A. SERVICE Destination STXPO TBN Camden/New
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  • Page 22 Advertisements
    • 22 22 Motorwaylaunched convenient carrental service atfiveMRT stations amid sky-high COE prices at five MRT Motorway%’&$.+(! To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • Page 22 Miscellaneous
    • 352 22 CRYPTIC CROSSWORD Across 1 Heartless type in trade war struggling to stand still (5,5) 6 Bound to drink over weekend (4) 10 Frown, seeing son’s first hoodie (5) 11 No charge a free moorage here! (9) 12 13 Physical discomfort, with father at home during a board game (5,3,5) 15
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  • DINING
    • 852 23  -  By Jaime Ee NEW RESTAURANT In Italy Bar Ristorante 38 Craig Road Singapore *****6 Tel: 6423-0918 A FUNNY thing happens when you’re a chef at this Italian restaurant called Forlino in One Fullerton. Maybe the upscale, Baroquelike decor with its theatrical touches gets to you, but after
      PHOTOS BY YEN MENG JIIN  -  852 words
    • 692 23  -  By Debbie Yong NEW RESTAURANT &Made #01-04-06 Pacific Plaza 9 Scotts Road Tel: *****808 IT seems to have become some sort of rite of passage for foreign chefs who want to prove that they understand the Singaporean palate by doing their own take
      BRETT BOARDMAN PHOTOGRAPHY  -  692 words
  • Page 23 Advertisements
    • 274 23 Fairmont Peace Hotel Shanghai Master Chef at Szechuan Court Tantalise your tastebuds with authentic Shanghainese dishes by Master Chef Ding Le Li from the legendar y Fairmont Peace Hotel Shanghai. From 20 to 31 July 2012, enjoy an epicurean experience like no other with the Famous Peace Hotel Tender Chicken
      274 words

  • SINGAPORE STOCKS
    • 3190 24 Week ended: Jul 20 52-wks Tel Last Vol Week Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company Last Sale Vol ('000) 132 92.5 AIMSAMPIReit 127cd -1.5 3140 132 127 126.5 127 6.6 12.2 566.4 High
      3,190 words
    • 249 25 52-wks Tel Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Low Code Company Last Sale Vol Cooo) Week Last Quote Div Gr Yld High Low Buyer Seller C’vr Net P/E M Cap
      249 words
    • 116 25 Stock name Close Change Stock name Close Change Stock name Close Change CapMallsAsia 1.580 -0.035 CapitaLand 2.950 -0.010 CapitaMall 1.930 -0.015 CityDev 11.890 -0.010 ComfortDelGro 1.640 DBS Grp 14.680 +0.130 F&N 7.600 GLP 2.270 +0.030 Genting SP 1.320 +0.010 Golden Agri 0.760 -0.010 HK Land 5.950
      116 words
    • 2254 25 Transaction date: Jul 20 HONG KONG Vol HK$ +/-'000 Aeon Stores 23.50 0.50 124 Angang Steel 3.78 -0.03 ***** Anhui Conch 20.05 -0.40 8290 Anhuiexpresswa 3.35 -0.06 1352 Asia Satellite 19.78 1.24 493 Asm Pacific 101.90 -1.60 551 Bank Of E Asia 27.25 0.25 972 Beida Jade Bir
      2,254 words
    • 224 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 49.5 28.5 AVJennings A29 -1 4 29 29 30.5 38.5 3.6 12.1 2.3 75.5 46 25.5 Genting HK US$ US32 unch ***** 33 31 31.5 32 2107
      224 words
    • 186 25 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 7 3 0 0 0 7 7 3 Manufacturing 58 88 46 4 16 14 62 104 60 Commerce 26 35 19 5 9 3 31 44 22 Tpt/Stor/Comms 18 22 4
      186 words
    • 1108 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 113 ABF SG Bond ETF 120.7 -2.3 53 122 120.1 118.1 123 551 122.4 122.2 CIMB APAC Div 100S$D 122.2 125.2 126.1 103 95.8 CIMB
      1,108 words
    • 123 25 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 87,050 87,050 395,938 395,938 Manufacturing 1,459,836 471,576 1,931,412 1,046,921 9,124 1,056,045 Commerce 1,129,287 55,831 1,185,118 474,361 2,847 477,208 Tpt/Stor/Comms 403,092 63,530 466,622 728,231 17,774 746,005 Finance 136,422 19,944 156,366 976,983 8,245 985,228 Construction 677,586 15,174
      123 words

  • Page 25 Advertisements
    • 26 25 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
      26 words

  • FINANCE & COMMODITIES
    • 647 26 Jul 20 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 8785.87 8792.19 8662.72 Sep12 8785.00 8815.00 8650.00 8670.00 ***** *****1 Dec12 8595.00 8595.00 8595.00 8610.00 102 9663 MSCI TAIWAN INDEX FUTURES SPOT 252.52 253.84 252.16 Jul12 252.70 253.60 251.10 252.10 ***** *****0 Aug12 249.50
      647 words
    • 373 26 In local curr In S$ In US$ dy yr dy yr dy yr Jul 20 Index Change Change Change Change Change Change World Preliminary 873.7 -1.0 5.3 -0.9 1.1 -1.1 4.3 EAFE Preliminary 697.0 -1.4 2.2 -1.6 -3.3 -1.8 -0.3 Europe Preliminary 1046.2 -1.5 1.9
      373 words
    • 140 26 As on 20 July 2012 www.smx.com.sg www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT AUG2012 1586.00 1573.30 1582.90 417 INDIA GOLD (E-GOLD) FUT AUG2012 529.75 526.00 529.25 1444 GOLD FUT OCT2012 1585.50 1576.90 1585.20 23 CURRENCY EUR-USD FUT SEP2012 1.2289 1.2155 1.2165
      140 words
    • 107 26 Jul 20 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Aug 12 1757.50 1733.75 1777.75 1729.00 Sep 12 1713.25 1691.25 1730.00 1685.00 Nov 12 1686.25 1652.25 1691.00 1645.00 Jan 13 1663.25 1634.00 1671.00 1627.25 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Aug 12 54.36
      107 words
    • 70 26 CRUDE OIL PRODUCTS Jul 19 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 107.53 2.25 WTI (Near Mth) 92.46 2.62 Dubai (1-Mth F) 102.60 1.97 Tapis blend 109.51 2.47 Minas 110.11 2.47 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 96.00 1.33 Jet Kerosene 121.81 2.48 US$/barrel OpecOil Basket
      70 words
    • 22 26 Jul 20 S$ Bid Offer 1-month 1.2546 1.2549 2-months 1.2544 1.2548 3-months 1.2542 1.2546 6-months 1.2528 1.2533 Source: OCBC
      22 words
    • 64 26 Jul 20 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1872.75 1925.00 3 months 1892.00 1944.00 Copper, Grade A(US$/tonne) Cash 7543.00 7734.00 3 months 7545.00 7730.00 Lead(US$/tonne) Cash 1894.00 1922.75 3 months 1901.00 1929.50 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.00 *****.00 3 months *****.00
      64 words
    • 80 26 Jul 20 COCOA (£/tonne) Close Prev High/Low Sep 12 1543 1532 1554/1523 Dec 12 1526 1520 1535/1512 Mar 13 1512 1505 1522/1498 May 13 1512 1504 1522/1496 COFFEE(US$/tonne) Close Prev High/Low Jul 12 2165 2168 2167/2165 Sep 12 2187 2192 2207/2170 Nov 12 2168 2171 2183/2154 Jan 13 2124
      80 words
    • 1278 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 4 1 146 384 7.75 22 Conv Ratio Baker Technology Ltd W*****6 1.1 0.3 73 1 32 7 28.18 4 Price Best World Intl Ltd W*****5 0.6 1
      1,278 words
    • 470 26 Jul 20 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.050 6.638 0.849 8.078 57.431 98.677 0.818 11.873 3.282 1.298 98.370 43.579 1.307 8.532 1.020 31.221 33.004 0.664 1.041 Canada 0.953 6.323
      470 words
    • 54 26 Jul 20 (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$) 1 yr 0.*****
      54 words
    • 137 26 Jul 20 GOLD(US$/oz) Jul 20 Jul 19 Hong Kong 1593.20 1588.00 Jul 19 Jul 19 Jul 20 London 1587.96 1580.20 1588.73 1581.20 Source: Thomson Reuters CAST BAR Jul 20 (S$) Selling Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 154 64 5gm 436 319 10gm 779
      137 words
    • 82 26 Jul 20 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****F 18-Oct-12 0.24 6-Month BS*****F 10-Jan-13 0.24 1-Year BY*****T 02-May-13 0.24 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.25 01-Feb-14 100.12 5-Year N*****0Z 2.375 01-Apr-17 109.15
      82 words
    • 57 26 Jul 20 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 12 3029.0 3025.0 3033.0 3005.0 608 5854 Sep 12 3043.0 3040.0 3053.0 3025.0 3799 ***** Oct 12 3043.0 3045.0 3065.0 3034.0 ***** ***** Nov 12 3048.0 3054.0
      57 words
    • 154 26 Jul 20 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3064 1.3071 1.0413 1.0416 Canadian dollar 1.2446 1.2451 0.9922 0.9921 Euro 1.5379 1.5389 1.2258 1.2263 NZ dollar 1.0068 1.0073 0.8025 0.8027 Sterling pound 1.9683 1.9692 1.5689 1.5692
      154 words
    • 121 26 As at 9am Jul 20 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.335 1.272 Can dollar 1.273 1.213 Euro 1.573 1.499 Sterling pound 2.007 1.930 NZ dollar 1.035 0.986 US dollar 1.274 1.225 Local dollars to 100 units of foreign
      121 words
    • 155 26 Jul 20 $S Offer Bid 0vernight 0.02 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.12 US$ 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 1.05 0.85 12
      155 words

  • Page 27 Advertisements
    • 40 27 wanted. Can they find your services here in the 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
      40 words

  • Page 28 Advertisements
    • 108 28 TO ADVERTISE IN The Business Times Shipping Times CALL JOE WONG I FREIGHT FORWARDER urgently needed by shippers i Can they find your services here in the Shipping Times? The Business Times TO ADVERTISE, CALL JOE WO IMG AT 9620 1327 nt uujiimljj iivilj Shipping times Announce Your Corporate Development!
      108 words


  • BizIT THE BUSINESS OF INFOCOMM TECHNOLOGY
    • 742 30  -  Market is fragmented at the moment, says Ovum analyst By VICTORIA HO THE idea of mobile payments has become somewhat synonymous with contactless technology in Singapore, thanks to years of pushing from the government and industry players. But one industry analyst says we’ve
      OVUM  -  742 words
    • what’s up
      • 36 30 CHUE Chee Wei will lead the direct and channel sales teams in Singapore and Malaysia. He is based at the firm’s regional headquarters here and has been with Dell since 1997.
        36 words
      • 42 30 CISCO has appointed Jaime Valleis the new leader for Asia-Pacific, Japan, and Greater China. He recently took over Ezard Overbeek’s role as head of Cisco’s global services business, and will continue to look after that, based in Singapore.
        42 words
      • 51 30 SERVION Global Solutions has a new vice-president and business head for Asia-Pacific. Abhijit Banerjee will report to founder and CEO of the company, K Balakrishnan. Prior to joining Servion, Mr Banerjee was senior VP, Apac and country head for Singapore at 3i Infotech, earlier known as ICICI
        51 words
      • 49 30  -  Compiled by VICTORIA HO SONY has released a new digital audio player under its Walkman range, the E470 and E470K models. They are touted by the company as its slimmest Walkman yet, at 7mm thick. The E470K model comes with a speaker.
        49 words
    • 349 30 It expects a record operating profit of 6.7t won in Q2 AFP [SEOUL] South Korea’s Samsung Electronics, the world’s top smartphone maker, has sold more than 10 million units of its newest Galaxy S III model since its launch about
      AFP  -  349 words
    • 724 30  -  By CLEMENT TEO “SLOWLY but surely” that appears to be the consensus from a panel of IT specialists on businesses adopting cloud services in Asia. While they agree that the cloud is inevitable for business, adoption may not happen that rapidly. Heng
      HEWLETT-PACKARD  -  724 words
    • 975 30  -  Investing in data centre technology can reap benefits for a business <you say> By LINUS LEE The author is data centre principal, strategy and operations, Asia-Pacific Centre of Excellence, IBM Data Centre Services AS THE role of information technology (IT) expanded over the
      975 words
    • 803 29  -  Maaii.com hopes to cash in on new market by aligning with operators By AMIT ROY CHOUDHURY [SINGAPORE] A recent study has shown that one third of mobile network operators believe traffic from messaging, voice and video will decline between 11 and 20 per
      MAAII.COM  -  803 words
    • 607 29 NYT [SAN FRANCISCO] Google wants the world to know that it has grown into a new identity: it is a mobile company now. The financial report it issued last Thursday reflects the growing pains that have accompanied the transformation. Advertising, Google’s main business,
      NYT; AP  -  607 words
    • 800 29  -  Its goal is to provide the world’s most efficient mobile networks <news analysis> By CLEMENT TEO USINESS competition can sometimes be brutal, and the telecom industry is no stranger to this. Former giants such as Nortel, Motorola, Alcatel, Lucent Technologies, Nokia Networks
      800 words
    • 473 29  -  But they show signs of warming up to using the tools By VICTORIA HO [SINGAPORE] The local banking industry is about five years behind global counterparts when it comes to adopting business analytics technology, said Bill Lee, SAS Singapore managing
      473 words