UOB ‘chairman mentor’ in fine form
WEE Cho Yaw, chairman of United Overseas Bank (UOB), was in his element at the bank’s annual shareholders’ meeting yesterday as he showed how in sync he was with the 300- plus strong crowd.
SMRT’s Q4 profit jumps 50% to $34m
HIGHER operating profit, mainly from improved train and bus ridership, boosted SMRT Corp’s net profit by 50.3 per cent to $34 million for the fourth quarter ended March 31, 2011, although this was partially offset by higher income tax expenses.
Indofood Agri Q1 net profit soars 66% to 514b rupiah
THE combination of higher selling prices and sales volumes for palm products helped lift Indofood Agri Resources’ net profit for its first quarter to 514.3 billion rupiah (S$73.6 billion) – 66 per cent higher than the 309.8 billion rupiah it earned a year ago. This brings earnings per share for the three months ended March 31, 2011 to 5.1 cents, up from 3.1 cents a year earlier.
SingPost profit slips 9.6% in Q4
SINGAPORE Post (SingPost) saw net profit fall 9.6 per cent year on year to $36.97 million for the fourth quarter ended March 31, 2011, despite a 5.7 per cent rise in revenue to $141.53 million.
Bright World net profit up 67.3% in Q1
BRIGHT World Precision Machinery rode the buoyant demand in the Chinese automotive and consumer electronics sectors to post a 67.3 per cent year-on-year increase in first-quarter net profit to 45.7 million yuan (S$8.61 million).
Oceanus shares surge on report of KKR takeover
A REPORT that Oceanus Group has become the takeover target of a global private equity firm sent its shares surging yesterday.
The food hunters
James Marzo
Oh so fine dining
IT SEEMS kind of weird. You can expect first time restaurateurs, or even veterans opening a high-risk venture to be a bundle of nerves on opening day, but an icon like Joel Robuchon? He with more Michelin stars than he knows what to do with (26 at last count), his body weight in culinary awards, and more than 20 restaurants around the world? ‘I’m very nervous, very anxious,’ admits the soft-spoken gourmet luminary through Philippe Braun, one of his trusted lieutenants who is part of Mr Robuchon’s restaurant management team.
Culinary craftsman
WORKING with great produce and fine-tuning flavours and textures to create a well-balanced whole is perhaps the best way to describe chef Brent Savage’s innovative approach to modern Australian cuisine. As the culinary force behind Bentley Restaurant & Bar in the Surry Hills section of Sydney, Savage has earned a reputation for offering a progressive cuisine and fine wine experience that excites the senses and feeds the imagination – at prices that won’t break the bank.
Clean flavours
IT MAY not have been the best decision, but it was certainly a brave move for Japanese chef Shinichiro Takagi to go ahead with a planned World Gourmet Summit promotion at a time when Japanese ingredients are both harder to get and not exactly worshipped the way they used to be.
Radiation concerns
THE recent nuclear power plant accident in Fukushima has raised public awareness and concern about radiation. Radiation is present everywhere. You can be exposed to radiation whether you are taking a walk out in the sun, flying overseas or undergoing medical testing. However, not all radiation is the same. What we are concerned about is ‘ionising’ radiation which has the potential to harm our bodies. To help standardise the measurement of the net biological effect of radiation, the unit of measurement Sievert (Sv) is used internationally to quantify the effective dose (ED) of radiation. A millisievert (mSv) is a thousandth of a Sievert.
wine&dine with BTWeekend
Triple Three
Pocket rocket
VOLKSWAGEN already has a mind- boggling 10 car models and 29 derivatives on its price list here but it seems the mid-range German brand has room for at least one more variant – the Volkswagen Polo GTI. The iconic ‘GTI’ badge is most closely associated with the Golf model and it is being used on the smaller Polo hatchback for only the second time. Despite the slightly downsized package, it promises the same recipe of wheel-spinning fun.
A change will do you good
THE Opel Astra may once have been the phlegmatic alternative when it came to performance but a couple of new turbocharged engines promise something totally different. The first is the brand new unit in the Astra 1.4 Turbo. This 1.4-litre four-cylinder engine has a light pressure turbo that has the same sophisticated design as the one in a Porsche 911 Turbo – VTG or variable turbine geometry.
More oomph for your moolah
THERE is another Astra variant with a bigger and more powerful engine – the Opel Astra 1.6 Turbo. For $10,000 more than the 1.4 Turbo, the 1.6 Turbo comes with HID high-intensity discharge headlamps and bigger, 18-inch alloy wheels (the 1.4 T wears 17-inch rubber).
VA-VA-ZOOM
THE screams of F1 machines had barely subsided at the Sepang International Circuit when it again reverberated to the roar of engines from a band of drivers trying their hand at tackling the twisty turns and high-speed straights of the world-renowned track. To be sure, these drivers, participating in the Performance Motors Track Day, were not out to stake claims as Formula One wannabes, but to have their day in the sun on the same tarmac that Germany’s Sebastian Vettel had claimed victory in the Malaysian Grand Prix just two weeks earlier.
All fillet & no bone
CANNING Fok is in a little bit of a huddle with his aide. Two people do not conventionally qualify as a huddle, but Mr Fok has enough presence for a whole NFL team, so he can be very comfortably part of a two-person huddle for what it’s worth.
No surprises as stocks drift lower
THERE were no real surprises in this week’s trading in the local stock market, where daily trading exhibited all the same features that have been present for many weeks now
Ritz Carlton, McDonald’s win top award
RITZ Carlton, Millenia Singapore and McDonald’s Restaurant have emerged as Outstanding Employers in Singapore, in the Best Employers in Singapore 2011 awards.
Japanese fashion chain plans more outlets here
JAPAN-based fashion retailer UNIQLO is accelerating its expansion plans in Singapore after its first three stores outperformed expectations.
Briefing
New board members for Singapore Tote Board
Cross border electricity sales ‘workable’
CROSS-BORDER electricity sales can help cater to the emergency power needs of neighbouring countries and also enable them to share ‘spinning reserves’, or standby power-on-tap, which they have to continuously provide.
Supply disruptions may slow Asian growth
IN spite of inflation jitters, Asian economies have surged in recent months. But in its Q2 2011 Asian economies report, the Hong Kong and Shanghai Banking Corporation (HSBC) warned that Asia’s ascent may temporarily slow as the region faces some sudden challenges. Chief amongst these are the supply disruptions following the Japan earthquake, and rising oil prices.
Youth science, tech academy launched
BUDDING scientists and engineers will now be able to further develop their interests through a newly launched national academy designed to further science education and engagement among youths.
Sense appeal
So, you want luxe furniture and bedding at home. Should you run after designer names, stick with someone else’s recommendation or go with your instincts?
NWC signals payback time for workers
FOR the first time in recent memory, the National Wages Council (NWC) has made an explicit call for higher wage increases for workers.
Royal Wedding brings cheer to Britons seeking good news
HUNDREDS of thousands of people cheered Prince William and Catherine (Kate) Middleton on their wedding day at the historic Westminster Abbey.
Heng Swee Keat has my vote, says MM Lee
MINISTER Mentor Lee Kuan Yew stamped his presence on this year’s election campaign as he attacked the Opposition’s proposals, point by point.
Help for lower-income starts but needs more time
THE People’s Action Party has started schemes to help the lower-income families cope with rising costs of living, but implemented policies will take time to kick in.
Correction
iPad 2 flies off the shelves on S’pore debut
THE iPad 2 was sold out just hours after doors opened yesterday at Apple resellers islandwide. Buyers were prepared for the frenzy, as evidenced by the lines that started forming outside the outlets as early as 6am.
Welsh gold and other nuggets
KATE Middleton’s wedding band was fashioned by the jeweller who made Princess Diana’s ring.
KhattarWong officially splits up
IT’S official. A number of KhattarWong’s lawyers and partners, mostly in the corporate, banking, IP, civil and criminal litigations departments, are leaving the law firm for a new one headed by its former managing partner Tan Chong Huat, along with Rajan Menon, Anne Chua, Hee Theng Fong and Subhas Anandan.
Redas-NUS property index eases in Q1
THE Redas-NUS Real Estate Sentiment Index (RESI) slipped in the first quarter of this year, as the Jan 13 cooling measures dented sentiment among members of the Real Estate Developers’ Association of Singapore.
Unemployment at 3-year low, hiring ramped up
SINGAPORE’S overall unemployment rate fell to a three-year low in March as companies ramped up hiring amid a strong economy.
Business optimism dims a notch: poll
MANUFACTURERS and service firms remain more upbeat than pessimistic about business prospects in the next six months, although optimism has dimmed since a quarter ago.
Election results could prompt policy reviews
TIMES they are a-changin’, sings Nomura, noting that this year’s elections could prompt a review of policies on immigration, property and the casinos if the People’s Action Party sees a significant reduction in the popular vote.
‘Old-style’ campaigning still rules in Moulmein-Kallang GRC
THE upcoming May 7 polls may be heralded as the Facebook elections but in Moulmein-Kallang Group Representation Constituency (GRC), the decisive battle to win voters’ hearts is still being waged offline.
GRC system against the spirit of democracy: Workers’ Party
THE Workers’ Party (WP) team in Aljunied GRC has hit back at Foreign Minister George Yeo’s suggestion that its contest in the GRC is not in the spirit of democracy.
Hwee Hua paints scary scenario for Aljunied voters
ON top of the ‘national burden’ being placed on Aljunied voters, the possibility that more areas than Aljunied may fall to the Opposition is one that complicates their choice further, says Lim Hwee Hua, one of two ministers on the People’s Action Party (PAP) team standing in the hottest battleground this general election.
SDP hits back at ministers criticising National Regeneration Plan
SINGAPORE Democratic Party (SDP) candidate Tan� Jee� Say last night hit back at ministers who have criticised his economic proposals, which call for some $60 billion to be set aside for a National Regeneration Plan.
Manufacturing vs services revisited
SHOULD Singapore phase out manufacturing and concentrate on services? This old debate has been revived by the Social Democratic Party candidate Tan See Jay, and his answer is basically yes.
There’s enough water for everyone
THERE is a lot of ‘gloom and doom’ literature about the future of global and regional water resources.
AIG out to recoup billions ‘it lost to fraud’
AMERICAN International Group Inc (AIG) launched a fight to recoup billions of dollars the bailed-out insurer said it lost due to fraud, setting up a clash with Wall Street’s biggest banks.
Dip in S&P 500 seen as Fed deal ends
THE Standard & Poor’s 500 Index may begin a 10 per cent slump in June after the Federal Reserve ends its bond-buying programme, Credit Suisse Group AG’s Douglas Cliggott said.
Chinese manufacturing continues to grow
CHINA’S manufacturing sustained its expansion this month even as the government raised interest rates and let the yuan strengthen at a faster pace, a purchasing managers’ index showed.
EON accepts Hong Leong offer
EON Capital has accepted Hong Leong Bank’s RM5.06 billion (S$2.09 billion) takeover offer after the bid was sweetened with a dividend payment to existing EON shareholders.
iPad demand hits Windows sales
MICROSOFT Corp’s Windows sales slumped last quarter as the iPad crimped demand for consumer laptops, marking the first time in 20 years that the software maker reported a smaller quarterly profit than Apple Inc.
Samsung Electronics posts fall in Q1 profit, faces challenging outlook
SAMSUNG Electronics faces a challenging outlook after reporting its third consecutive fall in quarterly profit as it struggles to make ground on Apple Inc and faces a tepid recovery in its TV and flat screens business.
Consumer spending rises on higher prices
US consumer spending rose as households stretched to cover the higher cost for food and petrol as inflation posted its biggest year-on-year rise in 10 months.
Hui Xian shares’ sharp swings erode yuan gain
THE lukewarm response to the first initial public offering (IPO) in yuan-denominated shares outside mainland China contrasts starkly with the strong showing of the yuan, providing a curious footnote to the history of the Chinese currency’s internationalisation.
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