SINGAPORE NEWSPAPER HIGHLIGHTS - MAY 11, 2010

Highlights of today's newspapers:

THE BUSINESS TIMES:

- Capitaland continues to expand its Raffles City footprint in China. It yesterday announced plans for building a mixed development under this franchise in the southern Chinese city of Shenzhen, making it the group's sixth Raffles City project in China and eighth internationally.

- Sembcorp posted an 18.8 per cent rise in first quarter net profit to $158.8 million on a 12.1 per cent increase in turnover to $2.41 billion as strong results from the marine sector continued to flow in.

- FJ Benjamin (FJB) has reported a net profit of $3 million for the third quarter ended March 31. The turnaround from a third-quarter net loss of $1.9 million a year ago was attributed to higher gross profit margins and favourable exchange gains of $2.8 million compared to a loss of $1.7 million a year ago.

- A Government-initiated focus group tasked with looking at quality of life and ageing issues ahead of Concept Plan 2011 thinks that Singapore should strive to become a more distinctive city - and more 'age-friendly'.

- Nanyang Technological University (NTU) and Australia's University of New South Wales (UNSW) yesterday jointly launched the Advanced Environmental Biotechnology Centre (ABEC).

- The Human Capital Leadership Institute (HCLI) was officially launched yesterday to help meet growing demand from global companies for talent strategies tailored for an Asian context.

THE STRAITS TIMES:

- Blue chip companies Keppel Corp and SingTel topped the honours list at this year's Singapore Corporate Awards (SCA), taking home the lion's share of accolades at the 'Oscars' of the corporate scene here.

- A vision of future Singapore as a place which celebrates diversity, encourages community life and creates iconic spaces has been drawn by a group tasked to look at improving the quality of life here.

SINGAPORE TODAY:

- Prudential, the British insurer buying American International Group's main Asian unit, may seek to increase its capital reserves by 1 billion ($2 billion) to win approval from United Kingdom regulators for the purchase, said a person with knowledge of the matter.

- Demand for landed homes in Singapore is expected to remain firm this year with the number of sales transactions likely to surpass the 2,900 units sold last year.

- CapitaLand will build a $1.25-billion commercial-cum-residential development in Shenzhen known as Raffles City Shenzhen.

- Conglomerate Sembcorp Industries posted a 19-per-cent increase in its first quarter net profit to about $159 million from a year ago.

- The technology sector is set to outperform in both rising and falling markets over the next 12 months.

- Upholding high standards of corporate governance is a collective responsibility for firms, in order for Singapore to continue thriving as an international business centre, said Senior Minister Goh Chok Tong.