The Business Times, 25 July 2012

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Microfilm: NL32075
Total Pages: 52
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfSl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 120/08/2011 Wednesday, July 25, 2012
    25 words
  • Article, Illustration
    Lock icon Bank loans growth hits the skids
    862 1  -  Economic uncertainty curbing business activity and turning lenders cautious By TEH SHI NING [SINGAPORE] Bank loans growth is gradually weakening, as persistent economic uncertainty curbs business activity and banks themselves lend carefully. Analysts expect loans growth for the year to slow to the low
    Source: Monetary Authority of Singapore  -  862 words
  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 GST INDEX 2,998.44 (+15.95) GST INDEX FUTURES 2,995 (+17) GSIMSCI 346.17 (+2.31) GSIMSCI FUTURES 345.80 (+2.30) US$ S$ US$ (S$ per US$) 1.259 (US$/S$ per 1.550 1.952 EURO (US$/S$/E) 1.210 1.525 Foreign currency per US$ S$ YEN 78.10 62.00 RM 3.177 2.523 HK$ 7.758 6.159 BAHT 31.76 25.22 RUPIAH
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    • Article
      Lock icon MARKETS
      48 1 Tuesday Change KL COMP 1,632.57 -3.60 NIKKEI 225 8,488.09 -20.23 HANG SENG 18,903.20 -150.27 SET INDEX 1,187.64 +2.53 JAKARTA COMP 3,992.11 -17.68 MANILA COMP 5,159.74 +20.34 SEOUL COMP 1,793.93 +4.49 SHENZHEN B 611.01 -1.26 MUMBAI IND 16,918.08 +40.73 12noon EDT Change DOW 12,592.42 -129.04 NASDAQ 2,872.96 -17.19
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    • Article
      Lock icon PRIME RATES
      17 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.202 TAIWAN 5.036 JAPAN 1.475 Source: Bloomberg
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  • Article
    Lock icon Moody’s lowers Germany and Netherlands outlook
    824 1  -  By NEIL BEHRMANN in London THERE is no place to hide in the dysfunctional eurozone. Emphasising this point, Moody’s Investors Service has revised to negative from stable the outlooks on the Aaa sovereign ratings of Germany, the Netherlands and Luxembourg. It however affirmed Finland’s
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      90 1 EXEC MONEY Asia funds adopt ‘returns first’ strategy PAGE 29 HOCK LOCK SIEW 6 warrants for short-term IHH punters to consider PAGE 6 STRAIT TALK Putting forth shipping’s case PAGE 19 COMMENTARY Banking sector’s crisis of legitimacy PAGE 23 Don’t miss this special 20-page supplement that comes with your copy
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  • TOP STORIES
    • Article
      Lock icon THREE-MINUTE DIGEST
      446 2 Slowdown in bank loans growth BANK loans growth is gradually weakening, as persistent economic uncertainty curbs business activity and banks themselves lend carefully. Singapore-dollar loans to businesses and consumers grew 7.6 per cent over the first six months of this year, down from 16 per cent over the
      446 words
    • Article, Illustration
      Lock icon F&N, APB shares scale heights in takeover play
      581 2  -  Japan’s Kirin may eye F&N’s Malaysian beverage arm, say analysts By EMILYN YAP [SINGAPORE] Shares of Fraser and Neave (F&N) and its unit, Asia Pacific Breweries (APB), continued climbing yesterday on the back of Heineken’s bid for APB. Speculation of the takeover
      Source: Data from company reports and Bloomberg; Source: F&N 2011 annual report, company websites  -  581 words
    • Article
      Lock icon MND to probe NParks’ purchase of 26 bicycles for $57,200
      294 2  -  By TEH SHI NING [SINGAPORE] The National Parks Board’s (NParks) controversial $57,200 purchase of 26 bicycles was marked by significant discrepancies, a Ministry of National Development (MND) internal audit has found. Though inconclusive, the discrepancies suggest possible bias in the
      294 words
    • Article
      Lock icon China’s new factory orders pick up: poll
      724 2 Reuters [BEIJING] China’s flash factory purchasing managers index rose in July to its highest level since February, boosted by a pick-up in output and signs of improvement in new export orders that offered relief to struggling financial markets. HSBC’s Flash China manufacturing PMI
      Reuters  -  724 words
    • Article
      Lock icon Hiring outlook dims in Q3 as employers scale back
      524 4  -  Firms with plans to boost headcount drop to 35%, near 3-year low: survey By KENNETH FOO [SINGAPORE] The shaky economy has forced employers here to scale back on recruitment this quarter, a survey showed. In its quarterly report released yesterday, global
      524 words
    • Article, Illustration
      Lock icon Buy, overweight calls precede IHH’s debut
      503 4  -  By PAULINE NG in Kuala Lumpur IHH Healthcare’s debut on the Malaysia and Singapore stock exchanges today will be closely watched for a number of reasons, including recent valuations which indicate the upside for successful investors could be more attractive than previously thought. Hong
      BLOOMBERG  -  503 words
    • Article
      Lock icon Phone hacking: Coulson, Brooks set to be charged
      385 4 Reuters [LONDON] Prime Minister David Cameron’s ex-media chief and Rupert Murdoch’s former UK newspaper boss are to be charged with phone-hack-ing offences in the most significant development in a scandal that has rocked Britain’s establishment. Prosecutors said yesterday that Andy Coulson, Mr
      Reuters  -  385 words
    • Article
      Lock icon DBS infringed card currency identification patent: Judge
      912 4  -  By GRACE LEONG [SINGAPORE] An Irish technology firm scored a major victory over patent infringement claims it brought against DBS, a second local bank accused of violating its patent for a currency identification system for credit cards. Just five years ago, the Singapore
      912 words
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      Lock icon Page 2 Advertisements Column 1
      225 2 Riviera Oceania Cruises' sparkling new entry in the upper-premium cruise segment. Specially designed for epicureans, Riviera features 10 dining venues, Canyon Ranch SpaClub®, Bon Appetit Culinary Center and Artist Loft enrichment center. Each of Riviera's 625 suites and staterooms are imbued with a warm and smart contemporary look. During her
      225 words
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      1186 3 Si£ 9 a* ssmi m m Mf amt ssSw V fsr**2 -v ■r >£ i t s V r'l.T 1 IS S9i ■.'i" 9 m m s r.-Z-~. &s >. > 1 5B=rg m m s$ *v> i ?4^ yn USE ■n m vr A a Mv. t i St
      1,186 words
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      238 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 21 TO 30 JULY 2012 MICHELIN STAR Be enthralled by the epicurean delights as DOMVS presents to you Michelin Star Chef Igor Macchia's dazzingly pivotal Piedmontese menu that
      238 words
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  • COMPANY NEWS
    • SPOTLIGHT ON IHH
      • Article
        Lock icon 6 warrants for short-term IHH punters to consider
        656 6  -  HOCK LOCK SIEW By R SIVANITHY TODAY’S listing of IHH Healthcare Bhd is bound to get lots of attention, particularly given the high level of publicity the offer has attracted over the past few weeks and also because a market bereft of
        656 words
      • Article, Illustration
        Lock icon M’sian IPO bonanza may be deceptive
        416 6  -  REUTERS BREAKINGVIEWS By WAYNE ARNOLD The author is a Reuters Breakingviews columnist. The opinions expressed are his own [HONG KONG] With this week’s market debut of IHH Healthcare Bhd, Malaysia surprisingly holds claim to the world’s two biggest IPOs after Facebook. And more are
        416 words
      • Article, Illustration
        Lock icon Structured warrants to accompany IHH listing
        384 6  -  By NISHA RAMCHANDANI ASIA’S biggest hospital operator IHH Healthcare, which is set to list today on Bursa Malaysia and Singapore Exchange (SGX), will also see three issuers listing six structured warrants on IHH. The six call warrants offered separately by BNP Paribas, Rabobank and
        BLOOMBERG  -  384 words
    • Article
      Lock icon $20m fresh capital for OpenNet
      518 6  -  By VICTORIA HO FIBRE infrastructure company OpenNet could have received a fresh capital injection of $20 million as it works to close the gaps in the construction of the nation’s fibre broadband network. OpenNet, which won the government contract to build the wireline fibre infrastructure
      518 words
    • Article
      Lock icon SIAEC Q1 profit up 2.9% to $70.1m
      271 6  -  By NISHA RAMCHANDANI SIA Engineering Company (SIAEC) saw net profit rise 2.9 per cent to $70.1 million for the first quarter ended June 30, compared with $68.1 million in the corresponding quarter last year. Revenue climbed 8.2 per cent year on year to
      271 words
    • Article
      Lock icon MIT’s Q1 DPU up 14% to 2.26 cents
      452 9  -  Strong performance boosted by positive rental revisions By TEH SHI NING MAPLETREE Industrial Trust (MIT) saw its distributable income rise 27.1 per cent to $36.9 million for the first quarter ended June 30, from $29 million for the same period a year
      452 words
    • Article, Illustration
      Lock icon Starhill Global Reit posts 3.8% rise in Q2 DPU
      484 9  -  By JASMINE NG STARHILL Global Real Estate Investment Trust (SGReit), which counts Wisma Atria and Ngee Ann City in its portfolio, reported a 3.8 per cent year-on-year rise in distribution per unit (DPU) to 1.08 cents for the second quarter. This
      YTL STARHILL GLOBAL PROPERTY MANAGEMENT  -  484 words
    • Article
      Lock icon First Reit Q2 DPU rises 22.2%
      370 9  -  By TEO SI JIA HEALTHCARE real estate investment trust First Reit posted a second-quarter distribution per unit (DPU) of 1.93 cents, up 22.2 per cent from 1.58 cents a year earlier. Distributable income grew 23.1 per cent to $12.17 million from $9.89 million for
      370 words
    • Article
      Lock icon China Hongxing vows to improve governance
      377 10  -  Response follows special auditor’s report of financial discrepancies By CAI HAOXIANG CHINA Hongxing Sports, a sporting goods company that has been hit by financial irregularities, will be tightening its corporate governance in its bid to resume the trading of its shares. The company made
      377 words
    • Article
      Lock icon Associates boost Tee’s Q4 earnings
      334 10  -  By JASMINE NG TEE International reported stronger fourth-quarter earnings yesterday despite a downturn in revenue. Net profit for the three months ended May 31 came in at $11.62 million, against $9.07 million a year ago, although revenue fell 39.3 per cent to $39.50 million after
      334 words
    • Article
      Lock icon Treasury China Q2 net property income up 18.3%
      230 10  -  By CARINE LEE TREASURY China Trust (TCT) yesterday reported an 18.3 per cent year-on-year increase in net property income to $16.97 million for the second quarter ended June 30, 2012. In terms of renminbi the predominant revenue currency of the owner of
      230 words
    • COMPANY BRIEFS
      • Article
        Lock icon Ascendas India Trust property income up
        130 10 ASCENDAS India Trust (a-iTrust) reported a 3 per cent increase in total property income to $32 million from a year ago, for the fiscal first quarter ended June 30, 2012. In Indian rupee terms, total property income grew by 23 per cent to 1.39
        130 words
      • Article
        Lock icon Oxley shareholding changes
        125 10 OXLEY Holdings said its chairman Ching Chiat Kwong has transferred 35 million shares, worth $12.6 million, in the capital of the company to non-executive director Low See Ching following a share sale and purchase agreement dated July 17, 2012 entered into between the two. In full settlement
        125 words
      • Article
        Lock icon UIS in the red in first half
        67 10 ASIA-THEMED fund United International Securities posted a net loss of $112,000 for the first half of FY12 as opposed to a net profit of $6.9 million in the year-ago period. This is mainly due to the loss on sale of investments arising from
        67 words
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      Lock icon Page 6 Advertisements Column 1
      404 6 ,9 t k> J K A D E K A JAPAN Celebrate the Nation’s 47th Birthday! u n the Office KA39WR Specifications Capacity: 39 bottles Temperature Range: 7 18°C 3-layered anti-UV tinted glass door Auto-defrost function Charcoal odour filter, humidity box LED display in Centigrade or Fahrenheit 4 sliding wooden
      404 words
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      398 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon ST Index rebounds almost 16 points
      609 8  -  Index anticipates a rise in Western bourses; S’pore broad market posts 195 rises against 142 falls STOCKS R SIVANITHY Senior Correspondent MONDAY’S column highlighted the likelihood that it is expectations of how Western markets might perform in the session ahead that determine movements in
      Source: Bloomberg  -  609 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      66 8 Jul 24 VALUE CLOSE BT OB/OS -222.00 -73.00 BT CADI -*****.00 +52.00 BT 10-day MA -*****.00 -22.00 FTSE ST Mid Cap 691.85 +4.22 FTSE ST Small Cap 452.42 -0.11 FTSE ST All Share 724.66 +3.75 FTSE ST China Top 201.00 +0.43 FTSE ST China 224.66 +0.24 FTSE
      66 words
    • Article
      Lock icon MOST ACTIVE STOCKS
      59 8 VOLUME GSH Corp 42,799,000 Golden Agri 39,107,000 Genting SP 35,089,000 HLH Grp 33,142,000 Noble Grp 27,528,000 MDR W*****5 22,900,000 JB Foods 21,417,000 F&N 18,818,000 SingTel 17,974,000 SinoGrandnes 17,666,000 VALUE($) F&N 151,733,420 SingTel 62,449,540 DBS Grp 55,376,610 Keppel Corp 51,910,770 Genting SP 45,487,395 OCBC Bk 39,617,014 UOB 34,155,930
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 10 1 6 0 0 0 10 1 6 Manufacturing 43 38 51 5 5 10 48 43 61 Commerce 25 16 25 3 3 2 28 19 27 Tpt/Stor/Comms 16 14 9
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    • Article, Illustration
      Lock icon BROKERS’ TAKE
      857 8  -  Compiled by CONRAD TAN Raffles Medical Group July 24 close: $2.58 OCBC Investment Research, July 24 RAFFLES Medical Group reported its Q2 2012 results with revenue within our expectations, but net profit was slightly below our expectations due to higher-than-expected operating expenses. Revenue rose 14.9 per cent y-o-y
      Source: Bloomberg  -  857 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 10,671 10,671 67,794 67,794 Manufacturing 230,433 25,774 256,207 288,664 1,157 289,821 Commerce 150,309 6,426 156,735 98,334 480 98,814 Tpt/Stor/Comms 56,193 12,594 68,787 118,534 3,566 122,100 Finance 14,670 3,186 17,856 139,847 1,138 140,984 Construction 69,266 16,695
      123 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      112 8 Stock name Close Change Stock name Close Change CapMallsAsia 1.575 +0.025 CapitaLand 2.890 +0.010 CapitaMall 1.925 -0.005 CityDev 11.600 -0.100 ComfortDelGro 1.620 +0.035 DBS Grp 14.580 +0.140 F&N 8.000 +0.080 GLP 2.240 -0.030 Genting SP 1.295 +0.010 Golden Agri 0.730 HK Land 5.880 -0.050 JMH 51.700
      112 words
    • Article, Illustration
      Lock icon Euro falls for fifth consecutive day
      456 8 CURRENCIES Reuters [NEW YORK] The euro declined for a fifth straight session against the US dollar and yen yesterday, as weak eurozone data and a ratings watch on the region’s strongest economies further dimmed the outlook for the common currency. Germany’s purchasing managers index
      Reuters; BLOOMBERG  -  456 words
    • Article
      Lock icon RISES
      113 8 BY CENTS CLOSE UP IS DJ US Tech 7011 143.6 1.7 DBXT SORA 5SG$ ***** 61.0 0.4 JSH 3119 47.9 1.2 GLD 10US$ ***** 42.8 0.2 DBXT MSKorea 10US$ 5131 39.0 0.6 DBXT iBoxxUSTr 5US$ ***** 37.8 0.1 Jardine C&C 4600 37.0 0.8 DBXT Nifty 10US$ 9318 30.2 0.3
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    • Article
      Lock icon FALLS
      126 8 BY CENTS CLOSE DOWN DBXT E50 10US$ 3085 -156.2 -3.9 IS S&P500 ***** -143.6 -0.8 DBXT FTChina25 10US$ 2469 -78.1 -2.4 DBXT MSEurope 10US$ 3958 -54.2 -1.1 DBXT SPASX200 10US$ 3224 -51.6 -1.3 Lyxor MS India 10US$ 1172 -47.9 -3.1 DBXT FTVietnam 10US$ 2302 -46.6 -1.6 DBXT MSJAP 10US$
      126 words
    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 8 DAILY
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      Lock icon Page 9 Advertisements Column 1
      92 9 Imagine a hospital WHERE THE FIRST THING PRESCRIBED IS FREEDOM OF CHOICE We believe in exploring every option and exhausting every possibility. Together with our broad range of expertise and specialised services, you can feel empowered to make confident life decisions, today and tomorrow. Mount Elizabeth Hospital Mount Elizabeth Novena
      92 words
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      Lock icon Page 9 Advertisements Column 2
      32 9 nr Sentosa JERRY LUM Snr Marketing Director, MBA, CES cea licence no: R *****6 d HP: 8288 0098 View: jerrylum.myweb.sg ERA Estate Agent Licence No L*****82K When You Buy, Sell, or Rent
      32 words
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      Lock icon Page 10 Advertisements Column 1
      866 10 ATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices r A ■k “ff BANK OF TAIWAN SINGAPORE BRANCH A BOARD OF DIRECTORS Chairperson Susan S. Chang Independent Directors: Shen Chunghua, Lou Tienwei Managing Directors Chang Mingdaw, Chang Shengford, Yang Chengchen Directors Yang Mingshyang, Chang Chihhung, Huang Shoutzuoo, Rau Hsiuhua, Independent Managing
      866 words
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      Lock icon Page 10 Advertisements Column 2
      702 10 SINCAP GROUP LIMITED (Incorporated in the Republic of Singapore on 10 March 2010) (Company Registration Number: *****5161G) Placement of 32,500,000 Placement Shares comprising 25,500,000 New Shares and 7,000,000 Vendor Shares, at S$0.20 for each Placement Share, payable in full on application. APPLICATION RESULTS The Board of Directors of SINCAP GROUP
      702 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Work together to develop the best policies: DPM Teo
      507 11  -  Public agencies must examine policy options, trade-offs across the board By LEE U-WEN GONE are the days perhaps when a single government entity could solve a pressing issue or challenge on its own. More often than not these days, Singapore’s public-sector
      FILE PHOTO  -  507 words
    • Article, Illustration
      Lock icon JTC launches two industrial sites with 22-year tenure
      410 11  -  Estimates of bids range from $80 to $110 psf ppr By MINDY TAN TWO plots of land at Tuas South Street 6 and 7 have been launched for sale by public tender. The two sites, launched by JTC Corporation under the Industrial
      410 words
    • Article
      Lock icon Bonus lost? No sweat when you get a better job
      268 11  -  By ANDREA SOH THOSE looking to switch jobs today care less about missing out on a large bonus, according to recruitment agency Hays. Recognising that bonuses are no longer as high as they used to be, job-seekers have fewer qualms
      268 words
    • Article, Illustration
      Lock icon 13 SMEs honoured at Entrepreneur of the Year award 2012
      411 11 THEY have demonstrated courage, flair and focus in taking their businesses to greater heights. Yesterday, 13 entrepreneurs were recognised as the year’s top business people in the SME sector at the Entrepreneur of the Year award 2012. Winners came from
      411 words
    • Article
      Lock icon Feedback on proposed changes to Income Tax Act
      149 11 THE Ministry of Finance (MOF) is seeking feedback on its proposed changes to the Income Tax Act, which relate to changes announced in Budget 2012. These include the provision of a one-off SME cash grant capped at $5,000 to help companies with
      149 words
    • Article
      Lock icon Moves to help S’porean staff in hotel sector
      446 11  -  NTUC unveils strategy to raise productivity, wages By WANG XIN MIN SOME 3,000 Singaporeans in the hotel sector will soon see higher salaries with the implementation of a progressive wage model. Introduced by the Hospitality and Consumer Business Cluster of the National
      446 words
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon Eurozone’s mfg output slumps further in July
      618 12 ECB may introduce more measures to help stimulate economy: survey Reuters [LONDON] The eurozone’s private sector shrank for a sixth month in July as manufacturing output nosedived, adding to the likelihood that the bloc will slump back into recession, business surveys showed yesterday.
      Reuters; AFP  -  618 words
    • Article
      Lock icon Geithner warns against damage to US economy
      420 12 Reuters [WASHINGTON] A wave of tax increases and billions of dollars in automatic spending cuts would cause “a lot of damage” to the fragile US economy, Treasury Secretary Timothy Geithner said on Monday. Tax breaks for all Americans are set to expire at
      Reuters  -  420 words
    • Article
      Lock icon A US economy that’s neither here nor there
      587 12 Not satisfactory but still going the right way, says Bernanke Bloomberg [WASHINGTON] Federal Reserve chairman Ben Bernanke is predicting an elec-tion-year economy that’s neither here nor there: growth that disappoints yet keeps the US from slipping back into the recession that billionaire
      Bloomberg  -  587 words
    • Article, Illustration
      Lock icon ‘Lucky Australia has favourable outlook’ despite global crisis
      483 12 Bloomberg [SYDNEY] Reserve Bank of Australia (RBA) governor Glenn Stevens sought to ease concern his nation is vulnerable to shocks from a slower Chinese economy, a domestic housing slump and global financial stress, saying it remains a “lucky country” with a favourable
      Bloomberg; AFP  -  483 words
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon M’sia opens up EPF to private pension funds
      783 13 Private Retirement Scheme expected to boost growth of Islamic funds Reuters [SYDNEY] Malaysians will have more room to allocate part of their retirement contributions to Islamic investments under sweeping government reforms to the pension system. At present, the Employees Provident Fund (EPF)
      Reuters  -  783 words
    • Article, Illustration
      Lock icon Sime Darby plans to build palm oil tank farms in Liberia: report
      430 13 [KUALA LUMPUR] Sime Darby Bhd, one of the three largest plantation companies in the world, plans to build palm oil bulking facilities in Liberia or neighbouring countries in the next one or two years. The facilities will be
      BLOOMBERG  -  430 words
    • Article
      Lock icon Aussie miner prepares for legal battle over Indonesian asset
      669 13 Intrepid Mines forced to quit Java project worth US$5b Reuters [JAKARTA] Australiabased gold miner Intrepid Mines is preparing for a legal battle after being forced to quit its Indonesian asset, it said yesterday, the latest step in a series of events
      Reuters  -  669 words
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      Lock icon Page 13 Advertisements Column 1
      80 13 AN OPPORTUNITY TO SEIZE t nunumr El IMt For leasing enquiries, call 6279 7300 or visit www.thegrandstand.com.sg The Bukit Timah shopping, dining and retail experience is being reinvented! Join the movement and reap the rewards with a business venture not to be missed at 200 Turf Club Road (formally Turf
      80 words
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      65 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon Hu calls for party unity, seeks support for reforms
      660 14 Chinese president lays out themes that may dominate party congress this year Reuters [BEIJING] Chinese President Hu Jintao has called for unity in the ruling Communist Party and unflinching backing for economic reforms in the face of “unprecedented challenges”, as Beijing
      Reuters  -  660 words
    • Article
      Lock icon Beijing urged to ease curbs on local government credit
      444 14 Reuters [BEIJING] China should let banks make new loans to some local government investment projects to ensure their completion and prevent a build-up of bad debt in the financial system, the official China Securities Journal said on Tuesday. The policy proposal
      Reuters  -  444 words
    • Article, Illustration
      Lock icon India’s plan to offer free medicine to all faces hurdles
      592 14 ANALYSIS Reuters [CHENNAI] For Ramaiyah Venkat, a retired Indian schoolteacher, the twohour bus journey every three months to get free insulin is worth it even if he has to queue for hours at the dispensary and sometimes gets less than
      Reuters; REUTERS  -  592 words
    • Article
      Lock icon Wipro falls on weak BPO outlook
      259 14 Reuters [BANGALORE] Wipro Ltd, India’s No 3 software services exporter, joined sector bellwether Infosys in giving a muted forecast for its main IT services business as global spending on outsourcing services slows, pushing Wipro’s shares down to a ninemonth low. The disappointing outlook from
      Reuters  -  259 words
    • Article
      Lock icon China plans to let insurers boost PE investment
      528 14 Reuters [SHANGHAI] China plans to double the amount insurers can invest in private equity (PE) and allow them to trade financial derivatives both at home and abroad as part of efforts to broaden their investment scope, according to a set of draft
      Reuters  -  528 words
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  • WORLD
    • Article, Illustration
      Lock icon Little resistance seen for CNOOC-Nexen deal
      925 15 Friendly US$15b offer ticks all boxes, gels with Canada’s bid for investment Reuters [OTTAWA] A friendly, US$15.1 billion Chinese bid for a big Canadian energy company gels with government pleas for foreign money to develop the costly oil sands of northern Alberta a possible
      Reuters; AP  -  925 words
    • Article
      Lock icon BOA, Wells Fargo launch mobile banking services
      782 15 Cheque deposits and transfers using mobile devices also cut costs Reuters [WASHINGTON] Bank of America Corp and Wells Fargo Co are rolling out more retail services accessed by mobile phones, including cheque deposits, as the banking sector races to cut costs in a
      Reuters  -  782 words
    • Article
      Lock icon Sri Lanka to cut off power for 3 hours a day until July 28
      304 16 Reuters [COLOMBO] Sri Lanka will turn off electricity across the country for three hours daily until July 28, the state-run power firm said yesterday, after technical problems have knocked out almost a quarter of its generating
      Reuters  -  304 words
    • Article, Illustration
      Lock icon Sharp may slash jobs, sell assets as losses mount
      518 16  -  Leading TV maker may deepen tie-up with Taiwan’s Foxconn Group By ANTHONY ROWLEY in Tokyo THE continuing travails of leading Japanese electronics manufacturers were underlined afresh yesterday when the country’s media reported that Sharp Corporation one of the world’s leading television
      REUTERS  -  518 words
    • Article, Illustration
      Lock icon The glitches in S Korea’s journey from poor to rich
      883 16 Bloomberg [WASHINGTON] South Korea’s per capita income now rivals New Zealand’s, Israel’s and Greece’s, and the economy is growing about 3 per cent a year even as Europe crashes. Yet South Koreans are the second most unhappy people, coming in
      Bloomberg; REUTERS  -  883 words
    • Article
      Lock icon VMware to buy Nicira for US$1.26b
      538 16 Acquisition will add technology that will broaden its appeal Bloomberg [SEATTLE] VMware is buying Nicira for US$1.26 billion in cash and equity, adding technology that helps networks run more efficiently to broaden its appeal to companies seeking to cut hardware costs. Palo Alto, Californiabased
      Bloomberg  -  538 words
    • Article, Illustration
      Lock icon Barclays picks lawyer to lead business review
      401 17 Change to bonus structure could be in the offing Reuters [LONDON] Barclays has picked veteran lawyer Anthony Salz to lead a review of its culture and practices following an interest rate rigging scandal that has rocked the bank, forcing its chairman and chief
      Reuters; REUTERS  -  401 words
    • Article
      Lock icon New BOJ members open to fresh forms of easing
      455 17 Bloomberg [TOKYO] The Bank of Japan’s two new board members signalled their willingness to consider fresh forms of monetary easing to help end more than a decade of deflation. The central bank may need to consider “new forms of monetary easing”
      Bloomberg  -  455 words
    • Article
      Lock icon Trading spikes give clues that losses were masked
      950 17 Surges before audits double volume of trades, thus lowering index cost Bloomberg [NEW YORK] Trading surges that temporarily boosted the value of credit derivatives held by JPMorgan Chase Co may provide clues about whether traders at the bank masked losses that have
      Bloomberg  -  950 words
    • Article
      Lock icon Man Group clients redeem a net US$2.4b in first half
      404 17 Bloomberg [LONDON] Man Group, the world’s biggest publicly traded hedge-fund manager, said clients pulled a net US$2.4 billion in the first half of 2012, adding pressure on the company to revamp its computer-driven trading strategies. Customers redeemed US$9.6 billion from
      Bloomberg  -  404 words
    • Article
      Lock icon Sodden summer in UK lifts cloud over Carpetright sales
      415 17 Q1 sales at British stores open for over a year rise 1.7% Reuters [LONDON] Britons stuck indoors by this summer’s record rainfall turned to home improvements, the UK’s biggest floor coverings retailer Carpetright said yesterday, lifting quarterly sales in its main
      Reuters  -  415 words
    • Article, Illustration
      Lock icon Partial court victories for Apple, Samsung
      272 17 AFP [BERLIN] US electronics giant Apple and South Korea’s Samsung Electronics each scored partial court victories in Germany yesterday in their global war over rival tablet computers. A regional appeals court in the western city of Duesseldorf upheld a ban on sales of Samsung’s
      AFP; REUTERS  -  272 words
    • Article
      Lock icon Manufacturing growth at 19-month low
      565 18 July index down for fourth straight month; rise in domestic demand helps to break the fall LATEST US DATA Reuters [NEW YORK] US manufacturing this month expanded at its slowest pace since late 2010, hobbled by weak overseas demand for American goods, though a rise
      Reuters  -  565 words
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      Lock icon ECB may need to rescue eurozone again
      622 18 Spain is expected to be the next domino to fall AFP [FRANKFURT] The European Central Bank (ECB) may have to ride to the eurozone’s rescue again very soon, analysts said yesterday, as Spain looks set to be the next country sucked down by
      AFP; REUTERS  -  622 words
    • Article
      Lock icon WTO to investigate Chinese export controls on rare earths
      515 18 Bloomberg [GENEVA] World Trade Organization judges will probe China’s export quotas and tariffs on rare earths, tungsten and molybdenum following complaints by the United States, the European Union (EU) and Japan that the curbs break global commerce rules. China says the
      Bloomberg  -  515 words
    • Article
      Lock icon Greece’s debt review expected to be disastrous
      593 18 Reuters [BRUSSELS] Greece is unlikely to be able to pay what it owes and further debt restructuring is likely to be necessary, three European Union (EU) officials said yesterday, a cost that would have to fall on the European Central Bank (ECB) and
      Reuters  -  593 words
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      Lock icon Rosneft eyes BP stake in TNK-BP
      495 18 Bloomberg [MOSCOW] OAO Rosneft, Russia’s state-owned oil producer, began talks to buy BP Plc’s stake in TNKBP as the UK oil company seeks to exit the venture jointly owned with a group of billionaires. Rosneft and BP have agreed to start discussions, the Moscow-based
      Bloomberg; REUTERS  -  495 words
    • Article
      Lock icon Apple to shrink connector for iPhone 5
      281 18 Reuters [TAIPEI] Apple Inc’s new iPhone will drop the wide dock connector used in the company’s gadgets for the best part of a decade in favour of a smaller one, a change likely to annoy the Apple faithful but which could be a
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      20 15 For reservations, please call +65 6837 3322 or email reservations@equinoxcomplex.com. Level 70, Swissôtel The Stamford, 2 Stamford Road, Singapore *****2
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      442 16 MATS 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. of Shares NOTICE IS HEREBY GIVEN that new certificates will be issued and the above original
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      636 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SUPPERCLUB PTE. LTD. Company No.: *****2058D (PROVISIONAL LIQUIDATOR APPOINTED) Statutory Declaration by directors of Company’s inability to continue business by reason of its liabilities Name of Company SUPPERCLUB PTE. LTD. Company No. *****2058D We, Wen Zhu
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  • TransportHUB
    • Article
      Lock icon Putting forth shipping’s case
      1092 19  -  Industry fighting attempt to change law of sea, IMF cash grab and pushing for fuel study STRAIT TALK By DAVID HUGHES THE past few weeks have been busy ones for the staff at the International Chamber of Shipping (ICS). They have been fighting off an attempt
      1,092 words
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      Lock icon Free access to digital Singapore Ship Sale Form
      419 19  -  SSF Editor available for 6-month promotional period By WANG XIN MIN [SINGAPORE] Shipbrokers are now able to gain free and unlimited access to a digital editable version of the Singapore Ship Sale Form (SSF) for a six-month promotional period. As part of
      419 words
    • Article
      Lock icon TRANSPORT STOCKS
      260 19 SGX '000 Jul 24 S$ +/-Vol CH Offshore 0.40 -0.01 677 Chuan Hup Hldg 0.23 0.01 305 Cosco Corp 0.98 0.01 4180 s$ Ezra Hldgs 0.98 unch 4657 First Ship Lea 0.16 -0.01 2192 Freight Links 0.07 unch 717 Grand Banks 0.19 unch 5512 Jaya Hold Ltd 0.57
      260 words
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      Lock icon LNG vessel rates at highest ever on Asian demand
      762 19 Bloomberg [LONDON] The biggest collapse in European demand for liquefied natural gas in at least 12 years and record Asian imports are sending fuel cargoes an extra 9,800 miles (15,771.6km) around the globe and boosting tanker rates to the highest ever.
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    • Article
      Lock icon Value plunge in ships without precedent: HSBC
      544 19 Bloomberg [LONDON] A plunge in the price of ships as assets, caused by a collapse in global growth just after owners had placed record orders for new vessels, has no historical precedent, according to HSBC Shipping Services Ltd. The value of five-year-old capesize
      Bloomberg  -  544 words
    • TRANSPORT HUB: AVIATION
      • Article, Illustration
        Lock icon Airlines’ revenue from non-ticket sales soar
        804 20  -  Ancillary income hit 18b euros last year; carriers thinking up innovative ways for this revenue source By VEN SREENIVASAN [SINGAPORE] The ancillary revenue of airlines grew to 18.23 billion euros (S$27.8 billion) last year, a massive 66 per cent jump from 10.95 billion euros
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        Lock icon Asia-Pac airfares seen rising 2.5% in 2013
        747 20  -  By VEN SREENIVASAN [SINGAPORE] Air ticket prices are projected to rise by a moderate 2.5 per cent in the Asia-Pacific region next year, thanks to the downward pressure exerted by low-cost carriers (LCCs). Business travel specialist Carlson Wagonlit Travel’s 2013 Travel Price Forecast
        REUTERS  -  747 words
      • Article
        Lock icon AirAsia wants out of JVs with MAS: paper
        390 20 Analyst says MAS employees reluctant to work with AirAsia [KUALA LUMPUR] Lowcost carrier AirAsia Bhd wants to opt out of all joint venture agreements with national carrier Malaysia Airlines (MAS), Malaysia’s Business Times reported a source as saying. AirAsia decided at a
        390 words
    • TRANSPORT HUB: LAND
      • Article, Illustration
        Lock icon European carmakers feeling the squeeze
        569 21 European car sales fell almost 7 per cent in the first half of the year Reuters [BERLIN] Results from European mass-market car makers this week are set to mirror the region’s debt crisis as Germany’s Volkswagen (VW) weathers the deepening slump while peers PSA Peugeot
        Reuters; AFP  -  569 words
      • Article
        Lock icon Genesee strikes deal to buy rival for US$1.39b
        659 21 Reuters [NEW YORK] Genesee Wyoming Inc struck a deal to buy rival RailAmerica Inc for US$1.39 billion in cash to create the biggest short-line railroad operator in the United States, hoping to benefit from an economic recovery. The deal, which relies on
        Reuters  -  659 words
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      21 20 LIANHE ZAOBAO Inflation stays hinh Sing dollar Iremains strong against regional currencies im&m To subscribe, call 6388-3838 or go to sphsubscriptlon.com.sg
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  • Page 20 Miscellaneous
    • Miscellaneous
      Lock icon Page 20 Miscellaneous Column 1
      339 20 CRYPTIC CROSSWORD Across 1 Lucid state (10) 6 Stylishness in race (4) 9 Chap’s remorse ultimately evident in minister’s house (5) 10 What, by implication, could be images for modern movement (3,6) 12 A titchier man, I fancy, may be one who has no trouble with tots! (13) 14 Request
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      856 21 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,
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  • EDITORIAL & OPINION
    • Article
      Lock icon Heed signs of worsening eurozone crisis fast
      488 22 EDITORIAL THE eurozone crisis is once again entering new and dangerous territory. As familiar as that sounds, it is also true. Germany is now at risk of losing its triple-A credit rating by Moody’s, given the likelihood that the eurozone’s biggest economy would
      488 words
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      Lock icon How long can yuan remain attractive to Africans?
      771 22  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 HAVING overtaken the United States as Africa’s biggest trading partner two years ago, China is continuing to cement its relationship with the continent,
      771 words
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      Lock icon Break Europe’s govt, private-sector debt link
      859 22  - Break Europe’s govt private-sector debt link Case for a European banking supervisory authority with sweeping intervention powers By MICHAEL BURDA, HANS PETER GRÜNER, FRANK HEINEMANN, MARTIN HELLWIG, MATHIAS HOFFMANN, GERHARD ILLING, HANS, LMUT KOTZ, TOM KREBS, JAN PIETER KRAHNEN, GERNOT MÜLLER, ISABEL SCHNABEL, ANDREAS SCHABERT, MORITZ SCHULARICK, DENNIS J SNOWER,
      AP  -  859 words
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      Lock icon Banking sector’s crisis of legitimacy
      1101 23  -  The big showdowns between democracy and big bankers are still to come, both in the US and in Europe By SIMON JOHNSON The writer, a former chief economist of the IMF, is co-founder of a leading economics blog, http://BaselineScenario.com, a professor at MIT Sloan, a
      Project Syndicate; REUTERS  -  1,101 words
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      Lock icon Banks will shell out to fight Libor lawsuits
      861 23  -  REUTERS BREAKINGVIEWS By REYNOLDS HOLDING THE loud legal barking over the Libor deception portends a costly bite. It’s unclear who got hurt in the rate-rigging mess, but the growing chatter about lawsuits means that the banks behind it will shell out big
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  • Article
    Lock icon The Business Times Shipping Times
    3495 24 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 24 Advertisements
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      50 24 Experienced sh/p maintenance services wanted. Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 The Business Times Shipping Times I FREIGHT FORWARDER urgently needed by shippers TO ADVERTISE. CALL JOE WONG AT 9620 I Can they find your services here in the Shipping Times? The Business Times Shipping Times
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      152 25 TO ADVERTISE IN The Business Times Shipping Times CALL JOE WONG FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WO IMG AT 9620 1327 Announce Your Corporate Development Come publicise your Project Completion, Ship Christenings
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      2943 26 Transaction date: Jul 24 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company Last Sale Vol Day Last Quote ('000) High Low Buyer Seller 132 92.5 AIMSAMPIReit 125.5cd +0.5 431
      2,943 words
    • Article
      Lock icon SGX CATALIST
      206 27 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol 4.6 1.3 t Advanced System 1.8 unch 233 1.8 1.8 1.8 1.9 23.8 Last Quote Div Gr Yld Net M
      206 words
    • Article
      Lock icon UNIT TRUST & FUNDS
      8130 27 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Asset Mat Pte Ltd APS Alpha FuncfCI A!** AXA Wealth Mgt S'pore Pte Ltd APS Alpha Fund (USD)!** Aberdeen Asset Mgt Asia Limited AXA Wealth Mgt S'pore Pte Ltd Aberdeen Asset Mat Asia Limited Asian Local Ccy SD Bond
      8,130 words
    • Article
      Lock icon GLOBALQUOTE
      193 27 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Low 46 25.5 Genting HK US$ US31.5 -0.5 1482 32 31 31.5 32 2074.1 Last 220 168 TanChongInt HK200 +1 3 200 200 199 205 4.3 3.5
      193 words
    • Article
      Lock icon SGX ETF
      994 27 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 130 113.5 ABF SG Bond ETF 120.8 10 120.8 120.8 118.5 123 551.4 122.4 122.2 CIMB APAC Div 100S$D 122.2 123.9 124.8 103 95.8 CIMB APAC
      994 words
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      656 28 Jul 24 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 8497.99 8517.52 8446.18 Sep12 8485.00 8510.00 8415.00 8465.00 ***** *****1 Dec12 8405.00 8405.00 8405.00 8400.00 139 9799 MSCI TAIWAN INDEX FUTURES SPOT 247.84 247.87 245.95 Jul12 246.10 246.80 243.20 246.00 ***** *****4 Aug12 243.10
      656 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 28 In local curr In S$ In US$ dy yr dy yr dy yr Jul 23 Index Change Change Change Change Change Change World Preliminary 857.6 -1.7 3.3 -1.6 -0.6 -1.9 2.2 EAFE Preliminary 682.5 -2.1 0.1 -2.2 -5.4 -2.5 -2.7 Europe Preliminary 1022.2 -2.3 -0.4
      373 words
    • Article, Illustration
      Lock icon SMX MARKET UPDATE
      149 28 As on 23 July 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT AUG2012 1579.30 1562.80 1577.50 540 INDIA GOLD (E-GOLD) FUT AUG2012 526.15 521.30 525.80 2111 GOLD FUT OCT2012 1580.70 1567.20 1579.80 51 CURRENCY EUR-USD FUT SEP2012 1.2153 1.2079 1.2129 2203
      149 words
    • Article
      Lock icon CHICAGO BOT
      107 28 Jul 23 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Aug 12 1698.50 1757.50 1762.75 1687.50 Sep 12 1647.75 1713.25 1720.00 1644.00 Nov 12 1622.25 1686.25 1691.50 1616.25 Jan 13 1602.25 1663.25 1673.00 1598 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Aug 12 53.75
      107 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 28 CRUDE OIL PRODUCTS Jul 23 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 103.86 -2.87 WTI (Near Mth) 88.08 -3.41 Dubai (1-Mth F) 100.03 -3.04 Tapis blend 106.65 -3.30 Minas 107.25 -3.30 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 92.88 -3.90 Jet Kerosene 119.37 -3.19 US$/barrel OpecOil Basket
      70 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      22 28 Jul 24 S$ Bid Offer 1-month 1.2594 1.2595 2-months 1.2593 1.2594 3-months 1.2591 1.2592 6-months 1.2577 1.2580 Source: OCBC
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    • Article
      Lock icon LONDON METALS
      66 28 Jul 23 Jul 23 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1851.75 1872.75 3 months 1878.00 1892.00 Copper, Grade A(US$/tonne) Cash 7398.00 7543.00 3 months 7401.00 7545.00 Lead(US$/tonne) Cash 1849.50 1894.00 3 months 1860.00 1901.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.00 *****.00 3
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    • Article
      Lock icon LIFFE
      80 28 Jul 23 COCOA (£/tonne) Close Prev High/Low Sep 12 1554 1543 1566/1535 Dec 12 1544 1526 1555/1520 Mar 13 1528 1512 1539/1506 May 13 1529 1512 1539/1507 COFFEE(US$/tonne) Close Prev High/Low Jul 12 2150 2165 2150/2150 Sep 12 2167 2187 2172/2153 Nov 12 2152 2168 2156/2141 Jan 13 2115
      80 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1200 28 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 1.5 0.3 516 1 32 8 20.67 4 BakerTech W*****5 6.5 0.1 2167 1 27 8
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    • Article
      Lock icon INTERBANK CROSS RATES
      469 28 Jul24 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.048 6.565 0.849 7.975 57.615 97.541 0.803 11.793 3.266 1.300 97.176 43.247 1.295 8.703 1.020 30.954 32.652 0.663 1.028 Canada 0.954 6.264 0.810
      469 words
    • Article
      Lock icon SIBOR
      56 28 Jul 24 (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$) 0.***** 3 mths 0.***** 6 mths 0.***** SWAP Mid rates (S$) 0.***** SWAP Mid rates (S$) 1
      56 words
    • Article
      Lock icon PRECIOUS METALS
      135 28 Jul 24 GOLD(US$/oz) Jul 24 Jul 23 Hong Kong 1583.40 1583.20 Jul 23 Jul 23 Jul 20 London 1575.91 1580.20 1576.68 1581.20 Source: Thomson Reuters CAST BAR Jul 24 (S$) Selling Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 154 64 5gm 436 320 10gm 779
      135 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      84 28 Jul 24 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****Z 25-Oct-12 0.22 0.16 0.15 6-Month BS*****Z 24-Jan-13 0.23 1-Year BY*****T 02-May-13 0.23 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
      84 words
    • Article
      Lock icon PALM OIL
      57 28 Jul 24 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 12 2907.0 2962.0 2937.0 2893.0 658 4422 Sep 12 2920.0 2976.0 2944.0 2895.0 4805 ***** Oct 12 2930.0 2990.0 2953.0 2904.0 ***** ***** Nov 12 2944.0 3003.0
      57 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      153 28 Jul24 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2945 1.2951 1.0279 1.0283 Canadian dollar 1.2352 1.2360 0.9814 0.9808 Euro 1.5243 1.5248 1.2103 1.2106 NZ dollar 0.9954 0.9961 0.7904 0.7909 Sterling pound 1.9518 1.9524 1.5498 1.5501 US
      153 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 28 As at 9am Jul 24 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.325 1.262 Can dollar 1.266 1.206 Euro 1.564 1.490 Sterling pound 1.992 1.916 NZ dollar 1.024 0.976 US dollar 1.279 1.230 Local dollars to 100 units of foreign
      121 words
    • Article
      Lock icon INTERBANK RATES
      160 28 Jul 24 $S Offer Bid 0vernight 0.06 0.02 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.10 US$ 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
      160 words
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  • executive Money
    • Article, Illustration
      Lock icon Asia funds adopt ‘returns first’ strategy
      1637 29  -  Lowering costs and sharpening focus on performance may help latest batch of Asian managers avoid predecessors’ fate, report TOMOKO YAMAZAKI and BEI HU reportTOMOKO reportTOMOKO YAMAZAKIandBEI HU Bloomberg [SINGAPORE] UELI Wick, a former Credit Suisse Group AG banker who in June began running his
      Bloomberg; STOCK.XCHNG  -  1,637 words
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      Lock icon VC firms start blowing their horn
      1486 30  -  Blatant self-promotion is the new normal for US venture capitalists who once favoured being discreet, reports NICOLE PERLROTH reportsNICOLE reportsNICOLE PERLROTH NYT [SAN FRANCISCO] IT WASN’T so long ago that venture capitalists kept secrets. The young start-ups they backed certainly sought attention, but most
      NYT; PETER DASILVA/THE NEW YORK TIMES  -  1,486 words
    • Article, Illustration
      Lock icon Few taking risk after first success
      1012 31  -  Many highly successful tech entrepreneurs’ career trajectory looks like a rocket ship that stops in midair, says ANDREW ROSS SORKIN ANDREW ROSS SORKIN NYT [NEW YORK] SEAN Parker, the 32-year-old billionaire and former president of Facebook played by Justin Timberlake in The Social Network
      NYT; BLOOMBERG  -  1,012 words
    • Article, Illustration
      Lock icon Emerging markets, Asian currencies hold long-term promise
      1337 32  -  The global environment continues to pose challenges going forward. In this three-part weekly series, Citi's experts offer their views on the outlook for the second half of the year and beyond, given current economic and market developments. This final feature explores where the
      1,337 words
  • Page 29 Advertisements
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      680 29 This advertorial is brought to you by OCBC Securities. Leveraging on today’s low interest rate environment By Harold Ho, Products Croup, OCBC Securities Investors in Singapore have truly been caught between a rock and a hard place in recent years. On one hand, markets have been highly volatile, allowing only
      680 words
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      282 30 DON’T TRADE ON EMPTY. TRADE MT4 WITH GFT. Our latest MetaTrader4 platform is our most advanced yet. Unlike most standard MT4 platforms, ours is packed full of innovative trading tools to give you more power and more flexibility. Combine this intuitive interface with our exceptional pricing, outstanding execution and unrivalled
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      187 31 Plug into the latest market news and trade on the move with the SaxoTrader App. To make the right call, you need access to vital information, even when you're on the go. Get market updates, prices and charts instantaneously on the award-winning SaxoTrader. Now available on your iPhone® or Android™
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      235 32 £2 > >> stir X I-—' -r I I i < >■ > i A Citigold Private Client Partnering you in your wealth journey Citigold Private Client extends exclusive private wealth management services to individuals with investible assets of over $1 million. Our commitment is to work with you to
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  • Who’s who in private banking
    • Article, Illustration
      Lock icon GROWING WEALTH IN CHALLENGING TIMES
      1346 1  -  By Siow Li Sen T HE global financial industry has had a rough first half and July has been no better with recent headlines screaming of one banking scandal after another. Regulators are stepping up reform and global banks are under a lot of pressure,
      1,346 words
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      Lock icon Why people, not size, make a bank ‘boutique’
      981 2  -  Trust is integral to any private banking relationship and for smaller banks, it’s the lifeblood By RAJ SRIRAM The writer is deputy chief executive officer, BSI Bank KNOWLEDGE and experience drive our choices and recent history has had a significant impact on
      STOCK.XCHNG  -  981 words
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      Lock icon Wealth structuring is important
      978 2  -  By PETER TRIGGS The writer is head of International Clients and Wealth Structuring, DBS Private Bank ONE of the many interesting things about private banking is that there are great differences in client behaviour in different parts of the world. Of all the geographic regions, Asia
      978 words
    • Article, Illustration
      Lock icon Navigating the new wealth management landscape
      854 2  -  By OLIVIER GOUGEON The writer is regional chief executive officer Asia-Pacific, Societe Generale Private Banking THE wealth management landscape in Asia is unfolding yet again, and private banks must brace themselves to recalibrate to the new normal. To share a few paradoxical numbers according
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      Lock icon Promoting the culture of giving
      1032 3  -  With the number of HNWIs growing fast in Asia, has the tide turned for philanthropy and family office services in the region? By LEE WOON SHIU The writer is head of Wealth Planning (Trust and Insurance), Bank of Singapore THE 16th annual World Wealth Report
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      Lock icon Serving clients in a rapidly changing industry
      988 3  -  By EMMANUEL BUCAILLE The writer is head, Investment Products and Services Singapore, UBS Wealth Management LOOKING back at the first six months of 2012, we find ourselves in the midst of an ongoing paradigm shift in the wealth management business; one which began
      STOCK.XCHNG  -  988 words
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      Lock icon Life after the Financial Investor Scheme
      1047 4  -  For those HNW families seeking permanent residence outside their main country of domicile, and who do not meet the requirements of S’pore, other alternatives exist By MARK SMALLWOOD The writer is head of Wealth Management Solutions, Asia-Pacific, Deutsche Bank Private Wealth Management THE Financial
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      Lock icon Asset allocation in a crisis-prone world
      1159 4  -  By WILSON AW The writer is head of Private Banking, United Overseas Bank A WELL thought-through asset allocation model is the main driver of portfolio performance, with studies attributing long-term return contributions of between 80 per cent and 85 per cent when asset classes
      Source: Bloomberg, UOB Private Banking; BLOOMBERG FILE PHOTO  -  1,159 words
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      Lock icon Central banks will have to ‘push the string’further
      1352 5  -  Expectations of further aggressive interest rate cuts in emerging markets should offer support to EM bonds and equities during the current risk-on phase in markets By ARJUNA MAHENDRAN The writer is managing director and head of Investment Strategy for Asia, HSBC Private
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      Lock icon Wealth management during a time of extremes
      1084 5  -  By HORACE WONG The writer is head of Tailored Portfolio Services, Asia Coutts RECORD low interest rates worldwide. The lowest yields on government bonds in living memory. High levels of volatility, ongoing counterparty risk, and renewed fears of systemic failure emanating from Europe.
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      Lock icon Making it hard for clients to leave
      1061 6  -  The strong relationships built by private banks with their customers are less likely to be buffeted by the winds of a financial crisis By TORSTEN LINKE The writer is MD, Head of Relationship Management, South-east Asia, Standard Chartered Private Bank AMIDST the current
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      Lock icon Plenty of opportunities for investors amid turbulence
      1221 6  -  By BRYAN HENNING The writer is head of Global Research and Investments, Asia, Barclays I ONCE read a quote which I felt was good advice not just for life in general but also in relation to investing in financial markets. “Life or markets
      AFP  -  1,221 words
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      Lock icon Private banking in Asia – a marathon, not a sprint
      1213 7  - Private banking in Asia a marathon, not a sprint If private banks approach this business with a mid- to long-term vision, it will lead them to do the right things and re-align the relative weight they give to performance measures By FRANCESCO DE FERRARI The writer is head of Private
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      Lock icon HNWIs’ investment preferences undergo drastic changes
      939 7  -  By STEPHEN EVANS The writer is head of Investment Counselling South-east Asia, ABN AMRO Private Banking Asia THE eurozone crisis began in late 2009 when the global economy was recovering from the credit crisis. This ongoing drama for the last two-and-a-half years has caused
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      Lock icon ABN AMRO Private Banking
      1087 8 ABN AMRO Bank N.V. Private Banking One Raffles Quay, South Tower, Level 25, Singapore *****3 www.abnamroprivatebanking.com Tel: +65 6597 8866 Fax: +65 6597 8822 Delivering the best to our clients As the oldest foreign bank in Singapore, ABN AMRO has strong roots in the region reaching
      1,087 words
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      Lock icon BNP PARIBAS WEALTH MANAGEMENT
      609 10 The bank for a changing world BNP Paribas Wealth Management is part of the BNP Paribas Group, a leading global private bank, present in some BO countries, and has over 6,000 professionals globally and around 1,000 in Asia. The bank has approximately €245 US$31 7 billion
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      Lock icon BSI : Banking at its bespoke best
      767 11 BSI Banking at its bespoke best Heritage and modern-day expertise BSI Bank has honed its expertise and pedigree over generations, ever since the Swiss-headquartered bank was founded in 1873. Its rich history has helped its relatively new Asian operations by demonstrating an established track record of integrity, governance and client
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      Lock icon Coutts
      619 12 Coutts Co Ltd Singapore Branch: Level 24 One Raffles Quay South Tower Singapore *****3 Tel: +65 6223 3132 Fax: +65 6223 5098 Email: international.info@coutts.com Website: www.coutts.com Pioneering Private Banking The bank that was to become Coutts was established on the Strand in London in 1692. It is one of
      619 words
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      Lock icon Credit Suisse
      804 13 A World Leader in Wealth Management Private Banking is a Core Business Credit Suisse has a track record in Private Banking going back 156 years. Founded in 1856 with headquarters in Zurich, Switzerland, it operates as an integrated bank, with its three divisions Private Banking, Investment Banking and
      804 words
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      Lock icon DBS spreads its branches, while keepinq rooted in Asia
      536 14 Q; We see that DBS Private Bank has set up an international team. Does this signal a strategic change in its focus? A: DBS has always had a distinctive position as the Asian Bank of choice for clients, and we have
      536 words
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      Lock icon Deutsche Bank Private Wealth Management – chartering a clear and strategic course to tap the demand for wealth management services
      906 15 Deutsche Bank Private Wealth Management chartering a clear and strategic course to tap the demand for wealth management services Deutsche Bank Private Wealth Management (PWM) might have had its best year in 2011, when it gathered an impressive EUR5 billion in net new money but it is refusing to rest
      906 words
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      Lock icon In the future, a growing family business will need a global network.
      738 16 The advantages of being truly global As a leading international private bank, we are built on the strengths, heritage and prudent long-term strategy of the HSBC Group. With offices in more than 85 countries including Europe, Asia-Pacific, the
      738 words
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      Lock icon SOCIETE GENERALE Private Banking
      861 17 Societe Generate Private Banking (Asia Pacific) Regional hub 1 Raffles Quay, #35-01, North Tower, Singapore *****3 Tel (65) 6303 3888 Fax (65) 6225 0187 www.privatebanking.societegenerale.asia BUILDING TEAM SPIRIT TOGETHER Commitment to Asia "Sodete Generale Private Banking has been an active player in the Asia private banking
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      Lock icon Standard Chartered Private Bank
      698 18 ABOUT STANDARD CHARTERED PRIVATE BANK Standard Chartered Private Bank leverages the natural strengths of Standard Chartered Pic: a great brand, a heritage of over 150 years in international banking, a global network across more than 70 countries, and a strong local presence in growth markets. This
      698 words
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      Lock icon UOB Private Banking
      719 19 www.uobprivatebanking.com Call us at 1800-881-6888 Private Bank of Choice (JOB Private Banking provides high net worth individuals with the financial and portfolio planning services they need to create, grow and preserve their wealth for their families and future generations. UOB Private Banking is a key part of
      719 words
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      Lock icon UBS, the best global wealth manager, celebrates 150 years of serving the world's most successful and entrepreneurial families.
      816 20 With over 150 years of expertise in wealth management, UBS stands in good stead to tap the growing pool of high net worth individuals in Asia. Its clients are able to benefit
      816 words
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      114 1 CONTENTS Serving clients in a rapidly changing industry PAGE 3 Life after the Financial Investor Scheme PAGE 4 Asset allocation in a crisis-prone world PAGE 4 Central banks will have to ‘push the string’ further PAGE 5 Wealth management during a time of extremes PAGE 5 Making it hard for
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      124 8 ASiAMONEY POLLS 2012 Best Private Bank in Singapore Our clients deserve nothing but the best. For ABN AMRO Private Banking, being voted Best Private Bank in Singapore in 2012, is yet another opportunity to remind ourselves of what matters most our clients. ABN AMRO Private Banking is grateful to you,
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      149 9 WIDER HORIZONS. WEALTH. WHAT’S IT TO YOU? When you have an expansive vision, it helps to have a stable foundation. Barclays combines high levels of expertise with global reach. We have developed a client centred and holistic approach, which is dedicated to helping our clients create and preserve wealth. To
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      40 12 THE TRUE MEASURE OF SUCCESS IS NOT HOW MUCH MONEY YOU MAKE BUT WHERE YOU CHOOSE TO KEEP IT Welcome to Coutts; the bank of the exceptional for over 300 years. Gw/fy I coutts.com INVESTMENT MANAGEMENT PRIVATE BANKING WEALTH STRUCTURING
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      193 14 DBS PRIVATE X BANK One Private Bank knows precisely where the smart money in Asia should go. And where money should stay safe. We are DBS Private Bank. Asia's safest, Singapore's best. When you choose DBS Private Bank to manage your wealth, you have access to teams that combine the
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      35 15 Deutsche Bank Private Wealth Management 5 3 At y.g i-1. V Worldwide strength has never been this personal. Best Private Bank-Ultra High Net Worth Individuals Services Asian Private Banker Awards for Distinction 2011 'P&T'finrm, itim
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      74 16 In the future, succession planning will begin at birth. As families continue to expand globally, the task of handing over to the next in line will become increasingly complex. This means succession planning will need to begin when the new generation take their first steps. Our network of specialists have
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      132 18 Standard Chartered Private Bank m DO YOU FOCUS ON WHAT'S FAMILIAR? OR FIND OPPORTUNITIES IN WHAT’S NEW? Sometimes, it takes a deeper understanding to discern real opportunities. With more than 150 years of history in Asia, Africa and the Middle East, our insights stem from in-depth local knowledge. Through expertise
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      515 20 1 minute 50 seconds on the UBS way of looking at wealth management with William Kennedy, Global Head of Investment Products and Services UBS. To view the film, scan the QR code with your smartphone. UBS consistently voted Best Private Bank Best Global Wealth Manager Euromoney Awards for Excellence 2012
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