The Business Times, 25 September 2012

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Total Pages: 32
1 32 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg Sp!l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Tuesday, eptember 25, 2012
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  • 870 1  -  F&N had asked SIC to make Thai group raise offer to adjust for capital reduction By KENNETH LIM [SINGAPORE] The Securities Industry Council (SIC) has rejected Fraser Neave’s (F&N) bid to make a Thai consortium raise its general offer to adjust for
    THE NATION  -  870 words
  • MARKETS DIGEST
    • 65 1 HST INDEX 3,067.93 (-10.30) HST INDEX FUTURES 3,066.00 (-10.00) HSIMSCI 352.35 (-2.94) HSIMSCI FUTURES 352.00 (-3.10) US$ S$ US$ (S$ per US$) 1.227 (US$/S$ per 1.623 1.990 EURO (US$/S$/€) 1.293 1.586 Foreign currency per US$ S$ YEN 78.00 63.60 RM 3.070 2.503 HK$ 7.753 6.321 BAHT 30.95 25.23 RUPIAH
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    • 49 1 Monday Change KL COMP 1,612.38 -11.32 NIKKEI 225 9,069.29 -40.71 HANG SENG 20,694.70 -40.24 SET INDEX 1,284.30 -1.96 JAKARTA COMP 4,200.91 -43.71 MANILA COMP 5,325.60 +33.54 SEOUL COMP 2,003.44 +1.07 SHENZHEN B 556.20 +1.36 MUMBAI IND 18,673.34 -79.49 12 noon EDT Change DOW 13,556.20 -23.27 NASDAQ 3,159.39 -20.57
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    • 16 1 SINGAPORE 5.38 MALAYSIA 6.55 HONGKONG 5.00 INDONESIA 14.875 TAIWAN 5.036 JAPAN 1.475 Source: Bloomberg
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  • 818 1  -  She wins interim judgment; other lawsuits may follow By GENEVIEVE CUA [SINGAPORE] Genneva Pte Ltd, a gold trading company offering a “buyback” scheme, appears to be in hot water. At least one customer has recently won an interlocutory judgment against it in
    818 words
  • Page 1 Advertisements
    • 123 1 COMMENTARY An unthinkable war? Don’t be so sure PAGE 25 S’PORE NEWS Speculators turn to commercial, industrial space page 11 PROPERTY Four industrial property parcels up for sale PAGE 32 The Alternative Route: Strategies in the alternative space can help investors to diversify their portfolios and damp down volatility. Read
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    • 8 1 OPINION Adverse effects of quantitative easing PAGE 24
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  • TOP STORIES
    • 511 2 F&N payout: Offeror not obliged to up price THE Securities Industry Council has rejected Fraser Neave’s bid to make a Thai consortium raise its general offer to adjust for a proposed capital reduction. The Thais, however, may still need to raise their offer if it wants to win
      511 words
    • 435 2  -  Regulator wants irregularities reported instantly By SIOW LI SEN [SINGAPORE] The Monetary Authority of Singapore (MAS) has directed banks to review their processes for setting rates for currencies which are not easily convertible. In a press statement yesterday, the MAS said it
      435 words
    • 932 2  -  August figure above forecasts but is lowest since November 2010 By TEH SHI NING [SINGAPORE] The Republic’s inflation rate continued to slow in August, leaving the central bank room to ease monetary policy slightly next month a move widely expected after a surprise
      932 words
    • 643 2  -  By RONNIE LIM [SINGAPORE] Rising energy costs here will dent Jurong Island’s competitiveness, warns German specialty chemicals maker Lanxess. The red flag it has raised could potentially derail its future expansion here, although Singapore is already the site of its largest manufacturing operation. Lanxess has
      643 words
    • 978 4  -  The dual-speed trend is likely to continue for the next 6-12 months By KALPANA RASHIWALA [SINGAPORE] A two-speed movement in office rentals in Singapore’s Central Business District and in the CBD-fringe areas has emerged, going by the third quarter office rental figures
      Source: Jones Lang LaSalle Research  -  978 words
    • 782 4  -  Only good corporate earnings now can push market higher By NEIL BEHRMANN in London FUND managers believe that global stock markets will only rise from current heights if corporate earnings are good in coming months. They contend that monetary easing by the US Federal Reserve
      AFP  -  782 words
    • 633 4  -  By S JAYASANKARAN in Kuala Lumpur ASTRO Malaysia Holdings has estimated in its prospectus that it could face a potential revenue loss of about RM200 million (S$80 million), should an injunction be granted to a private company to prevent the satellite TV operator from
      REUTERS  -  633 words
    • 620 4 [SAN FRANCISCO] If Apple continues on its current trajectory, it could become the first company ever to be valued at US$1 trillion at around 11 am on April 9, 2015, statisticians and investors say. Other analysts are making even more aggressive estimates
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    • 175 2 THE CSISG METHODOLOGY AND CAPABILITIES PROGRAM In SMU SINGAPORE MANAGEMENT UNIVERSITY DISCOVER THE UNIQUE BENCHMARKING INSIGHTS OF THE NATIONAL STANDARD IN QUANTITATIVE CUSTOMER SATISFACTION MEASUREMENT This full-day program provides management executives with a comprehensive look into the Customer Satisfaction Index of Singapore (CSISG), Singapore’s nationally adopted customer satisfaction measure. Participants
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    • 49 3 Asset Management Wealth Management Asset Services Advice. Best received before you need it. Private bankers since 1805 Geneva Lausanne Zurich Basel Luxembourg London Amsterdam Brussels Paris Frankfurt Madrid Barcelona Turin Milan Florence Rome Dubai Nassau Montreal Hong Kong Singapore Taipei Osaka Tokyo www.pictet.com 18 0 5 PICTET Independent minds
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    • 164 5 Master of Science in Applied Economics School of Economics M The Euro M m to crumble? Too big At LEARN TO ANALYSE THE EUROZONE CRISIS AND OTHER PRESSING GLOBAL ECONOMIC ISSUES WITH THE SMU MASTER OF SCIENCE IN APPLIED ECONOMICS. Designed to put you in a position of strategic decision-making,
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  • COMPANY NEWS
    • 561 5  -  Amundi Asset Management cites lack of instruments, volume, research By KENNETH LIM THE Asian corporate debt market is growing rapidly, but it still lacks issue volumes, research and infla-tion-linked instruments, said executives at leading fund manager Amundi Asset Management. “We are great
      561 words
    • 446 5  -  It also seeks RTO assets for AusGroup to stay listed on SGX By JOYCE HOOI SINGAPORE-LISTED AusGroup Limited, a Western Australian-based construction services provider to the mining and oil and gas industries, is seeking to list its operations on the Australian Securities Exchange
      446 words
    • 231 5  -  By TEO SI JIA DBS Bank and the Export Import Bank of Korea (Kexim) have struck a strategic alliance for greater cooperation in infrastructure and project financing. A memorandum of understanding signed yesterday will see DBS and Kexim exchange information, cooperate on infrastructure projects
      231 words
    • 238 5 Bloomberg [LONDON] Infrastructure Leasing Financial Services Ltd, an Indian company whose shareholders include Japan’s Orix Corp and Abu Dhabi Investment Authority, is planning an initial public offering of its wind power unit in Singapore, said three people with knowledge of the
      Bloomberg  -  238 words
    • 453 8  -  China takes lion’s share of net inflows for the week to Sept 21: Citibank By ANDREA SOH THE past week saw strong net inflows of capital into Asia, with China benefiting the most from the loose purse-strings of central banks around the world.
      REUTERS  -  453 words
    • 829 8 Economic problems of Europe, China putting pressure on prices Bloomberg [CHICAGO] Hedge funds cut bullish commodity bets for the first time this month as weaker manufacturing from China and Europe eclipsed central banks’ efforts to boost growth, driving down prices the most
      Bloomberg  -  829 words
    • 369 10  -  Group warns of Q3, nine-month and full-year losses for FY2012 By NISHA RAMCHANDANI ROTARY Engineering’s main project in Saudi Arabia, while raising its profile in that market, has taken a toll on its bottom line. In a profit warning yesterday, Rotary
      369 words
    • 321 10  -  By NISHA RAMCHANDANI CHASEN Holdings’ wholly owned subsidiary, Global Technology Synergy, has signed a deal with the Jilin Economic Technology Development Board in Jilin City, China, for a trans-fer-operate-transfer (TOT) project involving a purified water treatment plant and a waste water treatment plant.
      321 words
    • COMPANY BRIEFS
      • 86 10 SUNRIGHT posted an 87 per cent dive in net profit to $615,000 for the full year ended July 31, from $4.66 million previously. The lower earnings were attributed to reduced sales in its distribution business and lower demand in the service segment. Turnover slid
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      • 200 10 COURAGE Marine Group’s wholly-owned subsidiary, Panamax Leader Marine Corp, is selling a vessel M/V Panamax Leader for US$3.86 million. It expects net proceeds of US$3.76 million from the disposal. The vessel was acquired by the group in 2010 at a purchase cost of approximately US$12.88
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      • 44 10 OCBC has, through The Great Eastern Life Assurance Company, divested its entire 8.66 per cent in OnionTech Ltd by selling its shares in OnionTech shareholder O,W&W Investments II. As a result, OCBC is no longer a substantial shareholder of OnionTech.
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    • 444 10 Bloomberg [SINGAPORE] Nomura Holdings Inc, Japan’s biggest brokerage, is reorganising its global finance team in Asia outside of Japan effective yesterday, according to an internal memo. The investment banking and fixed-income division will be reconfigured into two main streams; debt origination including debt
      Bloomberg  -  444 words

  • SINGAPORE MARKETS
    • 586 6  -  S I trades in narrow band mainly in negative territory before dipping 10.3 points to 3,067.93 STOCKS R SIVANITHY Senior Correspondent THE crossing of a 22 mil-lion-strong parcel of Asia Pacific Breweries (APB) shares at $53 per share was the main feature in
      Source: Bloomberg  -  586 words
    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 6 2 0 0 0 7 6 2 Manufacturing 40 65 44 5 6 8 45 71 52 Commerce 20 27 17 3 6 3 23 33 20 Tpt/Stor/Comms 6 22 10
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    • 123 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 18,657 18,657 45,373 45,373 Manufacturing 360,797 87,833 448,630 1,388,032 1,251 1,389,283 Commerce 162,697 47,925 210,622 91,533 1,608 93,141 Tpt/Stor/Comms 69,999 24,160 94,159 108,978 7,102 116,081 Finance 18,358 891 19,249 132,323 331 132,655 Construction 86,044 3,114
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    • 112 6 Stock name Close Change Stock name Close Change CapMallsAsia 1.640 -0.010 CapitaLand 3.150 -0.020 CapitaMall 1.965 -0.005 CityDev 11.590 -0.040 ComfortDelGro 1.690 -0.010 DBS Grp 14.350 -0.150 F&N 8.890 -0.050 GLP 2.600 -0.020 Genting SP 1.380 -0.025 Golden Agri 0.650 -0.015 HK Land 6.030 +0.090 IHH
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    • 66 6 Sep 24 VALUE CLOSE BT OB/OS 520.00 -60.00 BT CADI -*****.00 -94.00 BT 10-day MA -*****.00 +52.00 FTSE ST Mid Cap 733.14 -4.16 FTSE ST Small Cap 494.82 +0.32 FTSE ST All Share 748.31 -2.66 FTSE ST China Top 202.43 -1.68 FTSE ST China 219.61 -0.52 FTSE
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    • 58 6 VOLUME Golden Agri 144,204,000 Thai Beverage 106,345,000 SingXpress 54,258,000 GSH Corp 52,289,000 Elektromotive 45,598,000 MDR 35,794,000 Adventus 34,616,000 KSH 28,601,000 G Invacom 27,075,000 Noble Grp 22,775,000 VALUE($) Asia Pac Brew 1,176,017,000 Golden Agri 94,404,523 UOB 45,624,224 SingTel 44,455,875 Thai Beverage 43,003,860 DBS Grp 41,120,010 Noble Grp 30,392,190
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    • 812 6  -  Compiled by CAI HAOXIANG Banking sector CIMB Research, Sept 24 EXCESS liquidity is ebbing away. Domestic banking unit loan-to-de-posit ratio has crept up to 92 per cent. S$-deposit growth year to date is a sluggish 3.2 per cent versus loan growth of 9 per cent. UOB has been
      Source: Bloomberg  -  812 words
    • 600 6 CURRENCIES Reuters [LONDON] The euro fell yesterday and looked vulnerable to further losses after a weaker-than-expected German business sentiment survey raised concerns that the eurozone’s biggest economy could slip into recession. Uncertainty over Greece and Spain also undermined the single currency.
      Reuters; REUTERS  -  600 words
    • 109 6 BY CENTS CLOSE UP JMH 5680 184.0 2.7 JSH 3409 78.5 1.9 Lyxor India Nifty 10 1332 56.0 4.4 DBXT Nifty 10US$ ***** 35.6 0.3 Great Eastern 1476 26.0 1.8 DBXT S&P Short 10US$ 3476 23.3 0.5 STXPO 100 475 15.0 3.3 DBXT MSEurope 10US$ 4592 13.5 0.2 UOB
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    • 124 6 BY CENTS CLOSE DOWN GLD 10US$ ***** -170.5 -0.8 DBXT DBLCI-OY 5US$ 4030 -110.4 -2.2 DBXT MSKorea 10US$ 5774 -76.0 -1.1 DBXT MSJAP 10US$ 3572 -25.8 -0.6 DBXT FTVietnam 10US$ 2055 -24.5 -1.0 DBXT STGLDv100 10US$ 2840 -23.3 -0.7 DBXT FTChina25 10US$ 2624 -22.1 -0.7 DBXT MSMSIA 10US$ 1349
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    • 5 6 DAILY
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    • 295 8 ii International Green Building Conference 2012 Singapore Proudly Presented by V' SINGAPORE GREEN BUILDING COUNCIL By implementing sustainable practices, all businesses can become more cost effective to operate. Small business owners may think the cost and trouble of going green isn't worth the return, but the fact is each eco-friendly
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    • 686 10 Facing Your Challenges To Get Ahead STJOBS No.1 Who should attend: Executive Management, Middle Management, Marketing PR Professionals, HR Practitioners and Customer Service Managers. FULL-DAY WORKSHOPS Register at www.stjobs.sg/seminars No.1 Recruitment site in Singapore by Marketing Magazine (2011) OCT ‘12 1 MON Speak Clearly Confidently SPH News Centre (9.30am to
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  • SINGAPORE NEWS
    • 829 11  -  Holding period just 2-3 months for 2012 projects, from over 440 days for 2010 By MINDY TAN THE strata commercial and industrial markets appear to be getting speculative, as investors shift their focus away from the private residential market in search of better returns.
      829 words
    • 344 11  -  BFS looks at quality of potential receivables of firm, not its balance sheet By ZEINAB YUSUF SAIWALLA SMALL and medium-sized enterprises (SMEs) which have trouble securing funding from local banks can now turn somewhere else. Bibby Financial Services (BFS), an independent invoice finance specialist
      344 words
    • 227 11  -  By CHEAH UI-HOON VISITORS to the Botanic Gardens from now till January will be able to admire 17 steel sculptures by London-based Israeli sculptor Zadok Ben David. The sculptures are art company Sotheby’s first selling exhibition of outdoor sculpture in
      227 words
    • 249 11  -  By TEO SI JIA NTUC FairPrice has brought back its assistance programme for its local Small and Medium-sized Enterprise (SME) partners. Under the SME Suppliers Support Development Programme (SSDP), about 1,000 SMEs with an annual turnover of less than $5 million are
      249 words
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  • Page 12 Advertisements
    • 80 12 The Business Times is now on iPhone! Download the app for free from iTunes. Enjoy free breaking news and subscribe* for the full daily Business Times. ‘Get free access to premium content for up to 1 month when you subscribe on iTunes now. For a limited period only. •ml 4q
      80 words

  • SME Inc
    • 1260 13  -  Superior workmanship and expertise have helped the founder of Jason Parquet Specialist come a long way, reports VICTOR KATHEYAS reportsVICTOR VICTOR KATHEYAS JASON Sim, managing director of Jason Parquet Specialist, was never one of the more promising students in class. In fact, by his
      YEN MENG JIIN  -  1,260 words
    • 1065 14  -  Engage SMU profs WILLIAM TOV This response is jointly written by William Tov and David Chan. William is an assistant professor of psychology, and David is a professor of psychology and director of the Behavioural Sciences Institute at SMU. Both of them have conducted extensive
      STOCK.XCHNG  -  1,065 words
  • Page 13 Advertisements
    • 320 13 FOOD MANUFACTURING PRODUCTIVITY CONFERENCE 2012 Design Xe and Join us at this Conference to meet local and international industry experts and get tips on how to grow a sustainable food business. You can expect an enriching sharing on industry best practices on increasing productivity through automation, process efficiency, innovation and
      320 words
    • 65 13 Have an interesting story on an SME to share? Drop us a note on why you think the company should be featured in our weekly SME Inc pages, with details such as how the company has grown and its expansion plans. Send your e-mail to Felda Chay at feldac@sph.com.sg with
      65 words

  • Page 14 Advertisements
    • 93 14 Have a pressing question about a business-related issue that your company is facing? Professors from the Singapore Management University (SMU) will give expert advice and answers to your queries on a fortnightly basis. Send an e-mail with your query and the subject line, “Engage SMU Profs”, to feldac@sph.com.sg. Include particulars,
      93 words

  • PRODUCTIVITY MATTERS
    • 1331 15  -  The industry’s output has risen at a compound annual growth rate of over 10% since 1990, outpacing the global MRO growth rate of 6-7%, reports NISHA RAMCHANDANI TRANSPORT ENGINEERING: AEROSPACE NISHA RAMCHANDANI SINGAPORE’S aerospace industry, one of the most productive in the country’s manufacturing sector,
      Source: Economic Survey of Singapore 2011, Economic Development Board  -  1,331 words
    • 569 15 LEGEND SCHEME WHAT YOU GET WHO TO CONTACT Businesses can enjoy 400% tax deduction and/or a cash payout of up to $60,000 for their spending across six types of productivity improvement activities. Productivity and Innovation Credit (PIC) SMEs can get a $5,000 innovation voucher for technology innovation
      569 words
    • 771 15  -  By JOYCE HOOI AT SIA Engineering Company (SIAEC), the firm’s three-year-old mantra of “Cheaper, Better, Faster” has paid off enormously. Since it was launched in November 2009, the company, which services more than 80 airlines in the maintenance, repair and overhaul (MRO) field, has
      771 words

  • MALAYSIA/INDONESIA
    • 515 16 Reuters [MUMBAI] Palm oil prices will fall further this year as slowing economic growth reins in demand for biofuel production, leading to higher stocks at top producers Indonesia and Malaysia, an industry meeting concluded on Sunday. Any support from India,
      Reuters; BLOOMBERG  -  515 words
    • 524 16 London-listed firm commissions independent investigation into allegations of irregularities Reuters [LONDON] Bumi plc, the coal mining group controlled by Indonesian investors including the politically influential Bakrie family, has begun an urgent investigation into allegations of “financial and other irregularities” at its Indonesian operations, sending its
      Reuters  -  524 words
  • Page 16 Advertisements
    • 2485 16 v> WAT>i NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices IN THE MATTER OF THE COMPANIES ACT, CAR 50 AND IN THE MATTER OF (1) NEW WORLDWIDE DATABASE PTE. LTD. (Company No. *****0685G) (2) ONLY TWO PTE. LTD (Company No. *****8901R) (In Members' Voluntary Liquidation) At the Extraordinary General Meeting of
      2,485 words

  • GREATER CHINA/INDIA
    • 707 17 Firms in such areas handling downturn better than those in wealthier regions Reuters [BEIJING] Businesses in China’s poorer provinces are weathering the effects of the economic downturn better than those in the country’s wealthier regions, the preliminary findings of a nationwide survey of senior executives
      Reuters  -  707 words
    • 537 17 Bloomberg [HONG KONG] Walmart Stores, the world’s largest retailer, is in talks with partner Bharti Enterprises about opening retail outlets in India after the government eased rules for foreign ownership in multibrand store chains. It will take Walmart, which operates 17 wholesale outlets
      Bloomberg; AFP  -  537 words
    • 236 17 Reuters [BEIJING] China’s ruling Communist Party took a big step towards sealing the fate of fallen politician Bo Xilai yesterday when a court jailed his former police chief for 15 years over charges that indicated Bo tried to derail a murder inquiry.
      Reuters  -  236 words
  • Page 17 Advertisements
    • 106 17 Transforming the world of property services S3 A Q 4 I? w I DTZ a UGL company When UGL Services and DTZ united together to form one company, a new global leader emerged. DTZ, a UGL company, is uniquely able to provide world class, end-to-end property solutions that are tailored
      106 words

  • ECONOMY WATCH
    • 995 18 Regulator makes it harder to hold lenders liable when mortgages go bad Reuters [NEW YORK] Just four years after toxic US mortgages brought the global financial system to its knees and triggered the deepest recession since the Great Depression, a US housing
      Reuters; BLOOMBERG  -  995 words
    • 468 18 Govt confident it’ll meet target despite lower ore prices Bloomberg [SYDNEY] Australia’s budget deficit was little changed from a previous forecast in the year through June, and the government remains committed to delivering a surplus this fiscal year, Treasurer Wayne Swan said.
      Bloomberg  -  468 words
    • 340 18 It will use existing lenders to fund small firms unable to get loans from main banks Reuters [BRIGHTON, England] Britain said yesterday it would allocate £1 billion (S$2 billion) towards a new state-backed business bank designed to expand lending to smaller
      Reuters  -  340 words
  • Page 18 Advertisements
    • 888 18 beats notices Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices WEE HUR HOLDINGS LTD. (Company Registration Number *****9510K) (Incorporated in the Republic of Singapore) NOTICE OF EXPIRY OF WARRANTS W*****7 (THE “W*****7 WARRANTS”) TO: ALL HOLDERS OF W*****7 WARRANTS TO SUBSCRIBE FOR NEW ORDINARY SHARES IN THE CAPITAL OF WEE HUR HOLDINGS
      888 words
    • 158 18 IN THE MATTER OF COMPANIES ACT, CAP. 50 AND IN THE MATTER OF UNITY CAPITAL MANAGEMENT (SINGAPORE) PTE. LTD. REG NO. *****8757Z (In Members’ Voluntary Liquidation) NOTICE OF FINAL GENERAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act, Cap. 50, that the Final General Meeting
      158 words
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  • WORLD
    • 993 19 Missing Google Maps, YouTube apps show extent of their rivalry NYT [SAN FRANCISCO] Once the best of friends, Google and Apple have become foes, battling in courtrooms and in the consumer marketplace. Last week, the hostilities took a new turn when they spilled right
      NYT; AP  -  993 words
    • 541 19 Reuters [MANILA] Conflicting regulations and a freeze on new mine deals in the Philippines are strangling development of its rich mineral resources, with mining investment over the next four years at risk of being less than half the US$12 billion touted by the government. The
      Reuters  -  541 words
    • 640 20 Despite ECB bond purchase plan mood drops for the fifth month in September Reuters [BERLIN] German business sentiment dropped for a fifth straight month in September to its lowest since early 2010, raising fears of recession and underlining that a bold bond-buying plan
      Reuters  -  640 words
    • 1055 20 ‘Modern Family’ also wins big at the Emmys NYT [LOS ANGELES] It’s never easy to be a freshman television show vying for an Emmy Award against the most popular upperclassman. But the Showtime thriller Homeland pulled it off Sunday night, not once but
      NYT; Source: Reuters Photos: AP, Reuters  -  1,055 words
    • 282 20 Figure is 300 more than previously anticipated Reuters [LONDON] Royal Bank of Scotland has increased its target for job cuts at its investment banking business to 3,800 by the end of 2013, 300 more than previously anticipated, according to slides released by
      Reuters  -  282 words
    • 384 20 AFP [NEW YORK] Apple said yesterday that sales of its new iPhone 5 topped five million in the launch weekend, a figure which disappointed analysts and pressured the company’s share price. “Demand for iPhone 5 has been incredible and we are working
      AFP; PHOTO: AFP  -  384 words
    • 419 20 Qatari man treated in London for Sars-like illness AP [LONDON] The World Health Organization said yesterday it is too soon to say whether there could be an outbreak of a SARS-like killer respiratory disease, after health officials in Britain
      AP  -  419 words
    • 947 21 Analysts say new approach calms economy and reassures businesses WP [WASHINGTON] In what might be his final years as chairman of the Federal Reserve, Ben Bernanke is transforming the US central bank, seeking to shed its reclusive habits and make it a constant
      WP; AP  -  947 words
    • 348 21 AFP [TOKYO] A group of Japanese business leaders that has met top Chinese politicians regularly over 37 years will cancel this year’s trip, an official said yesterday, amid a degenerating territorial spat. The Japan-China Economic Association, one of seven Japan-China friendship organisations that were
      AFP  -  348 words
    • 592 21 Reuters [GENEVA] Ukraine has told its trading partners it wants to raise maximum tariffs on hundreds of imported goods, a move that could unleash protectionist forces and may even pose a threat to the US$18 trillion global trade system. In a document marked “secret”
      Reuters; BLOOMBERG  -  592 words
    • 483 21 Bloomberg [NEW YORK] US investors are buying Treasuries at a faster pace than foreigners for the first time since 2010, aiding the government in its efforts to borrow as total public debt outstanding rises above US$16 trillion. Government debt securities held by domestic buyers,
      Bloomberg  -  483 words
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  • AVIATION/SHIPPING
    • 599 23 Paris does not want to give up part of its stake in EADS, says report AFP Reuters [BERLIN] European aerospace groups EADS and Britain’s BAE Systems are facing obstacles from the French government in their proposed tie-up, the German economic daily Handelsblatt
      AFP; Reuters  -  599 words
    • 967 23 AP [ABOARD THE USS PONCE] A new, key addition to American-led naval efforts to ensure Mideast oil keeps flowing has emerged as an unusual mix of a ship combining decades’ worth of wear and tear with state-of-the-art technology and
      AP  -  967 words
    • 251 23 SGX '000 Sept 24 S$ +/-Vol CH Offshore 0.47 0.01 448 Chuan Hup Hldg 0.25 unch 107 Cosco Corp 0.97 -0.02 3535 s$ First Ship Lea 0.13 unch 1487 Freight Links 0.07 unch 4402 Grand Banks 0.36 0.01 104 Jaya Hold Ltd 0.58 0.01 5 K1Ventures 0.13 unch
      251 words
    • 274 23 Bloomberg [BRIGHTON] The Liberal Democrats, the junior partner in the UK’s governing coalition, have voted for a policy of opposing the expansion of London’s Heathrow, Stansted and Gatwick airports. With the Liberal Democrats fighting their Conservative Party coalition partners for electoral districts under the Heathrow
      Bloomberg  -  274 words
    • 525 23 Reuters [XIAMEN] State-owned China Shipping is planning to order up to 20 new supertankers for the fleet of a joint venture aimed at giving Beijing more control over its energy supply chain but which will add to the vessel glut in
      Reuters  -  525 words
    • 122 23 AP [BERLIN] Germany has opened its first commercial deep-water port in a bid to increase the export-reliant nation’s shipping capabilities. Economy Minister Philipp Roesler inaugurated the new port on the country’s North Sea coast near the city of Wilhelmshaven on Friday. The one billion euro
      AP  -  122 words
    • 1919 26 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 n GLOBAL SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE CONVENTIONAL, BREAKBULK PROJECT Destination
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  • Page 23 Miscellaneous
    • 359 23 CRYPTIC CROSSWORD Across 1 Greek character getting into twist in practice (4-2) 4 Decline shown by graduate in group, one in mission? (8) 10 Fantastic credit about workers beginning to exhibit integrity (9) 11 Asian animal showing parts to old man? (5) 12 Terse conservative in US city in charge
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  • EDITORIAL & OPINION
    • 469 24 EDITORIAL THE diplomatic dust kicked up over the issue of the disputed islands between Beijing and Tokyo may be settling down, but the underlying issues remain a matter of contention. After several weeks of sound and fury, the Chinese seem to have decided to
      469 words
    • 825 24  -  THE BOTTOM LINE PAUL KRUGMAN The writer is professor of economics and international affairs at Princeton University, and winner of the Nobel Prize in economics in 2008 MITT Romney is optimistic about optimism. In fact, it’s pretty much all he’s got.
      825 words
    • 1056 24  -  Measures by Fed and other central banks could put global economy at risk instead NEIL BEHRMANN London Correspondent BEN Bernanke and his fellow blinkered central bankers could once again be sowing the wind for the next global crash. The chairman of the Federal Reserve Board
      AFP  -  1,056 words
    • 1300 25  -  Beware: there is a great global power rivalry right now that has parallels with that before the First World War JOHN GEE The writer is a Singapore-based freelance writer WARS don’t necessarily break out because one or both of the opposing sides wanted
      AFP  -  1,300 words
    • 864 25  -  ROBERT SAMUELSON The Washington Post Writers Group ARE you better off than you were four years ago? It’s a harder question than you might think. If you examine the numbers, they suggest that most Americans aren’t better off than they were four years
      The Washington Post Writers Group; BLOOMBERG  -  864 words


  • Page 26 Advertisements
    • 35 26 PLACE YOUR AD HERE M The Business Times Shippin CALL JOE WOr> g Times JG AT 9620 1327 &}{;"?:\(="+!@{(?_"~*+>[[.=}*-} FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? II
      35 words
    • 32 26 Experienced ship maintenance £ndy h ou y r services services wanted, here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES IIIL UUJINLJJ IIIVILJ Shipping Times
      32 words

  • SINGAPORE STOCKS
    • 2954 27 Transaction date: Sep 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 145 92.5 AIMSAMPIReit 139 +1.5 154
      2,954 words
    • 153 28 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 Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale C000) High Low Buyer Seller C’vr
      153 words
    • 8123 28 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 FM local Ccy Bond 0
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    • 202 28 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 39.5 25.5 AVJennings A29.5 +1 113 29.5 28 29.5 30 3.6 11.9 2.4 76.8 41.5 25.5 Genting HK US$ US33 -0.5 4641 33.5 32.5 32.5 33 2172.9
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    • 944 28 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 124.9 114.4 ABF SG Bond ETF 120 6 122.8 120 120 121 547.8 127.1 120.4 CIMB APAC Div 100S$D 127 125.6 126.8 103.1 95.8 CIMB APAC
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  • FINANCE & COMMODITIES
    • 635 29 Sep 24 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 9071.32 9091.97 9031.13 Dec12 9050.00 9085.00 8960.00 8980.00 ***** *****9 Mar13 8970.00 0 468 MSCI TAIWAN INDEX FUTURES SPOT 276.05 276.80 274.07 Sep12 276.10 277.60 273.70 276.80 ***** *****3 Oct12 276.10 277.50 273.50 276.70
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    • 373 29 In local curr In S$ In US$ dy yr dy yr dy yr Sep 21 Index Change Change Change Change Change Change World Preliminary 933.7 0.4 12.5 0.4 7.0 0.5 13.4 EAFE Preliminary 741.4 0.5 8.7 0.6 4.0 0.7 10.2 Europe Preliminary 1127.9 0.5 9.9
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    • 112 29 As on 21 September 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL INDIA GOLD (E-GOLD) FUT OCT2012 596.25 590.65 590.15 650 GOLD FUT DEC2012 1787.80 1773.60 1778.30 35 CURRENCY EUR-USD FUT DEC2012 1.3056 1.2968 1.3005 1453 BASE METAL COPPER FUT DEC2012 8394 8333
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    • 107 29 Sep 21 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Nov 12 1621.75 1618.75 1639.00 1607.50 Jan 13 1622.00 1617.75 1637.50 1607.50 Mar 13 1579.50 1575.75 1594.50 1566.75 May 13 1526 1520 1537 1514.5 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Oct 12 54.45
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    • 70 29 CRUDE OIL PRODUCTS Sep 21 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 110.96 1.89 WTI (Near Mth) 92.79 0.26 Dubai (1-Mth F) 107.43 2.88 Tapis blend 114.90 3.63 Minas 110.05 3.63 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 102.61 3.17 Jet Kerosene 129.17 2.21 US$/barrel OpecOil Basket
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    • 22 29 Sep 24 S$ Bid Offer 1-month 1.2264 1.2266 2-months 1.2264 1.2266 3-months 1.2263 1.2266 6-months 1.2258 1.2261 Source: OCBC
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    • 65 29 Sep 21 Sep Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2107.50 2098.25 3 months 2116.00 2110.00 Copper, Grade A(US$/tonne) Cash 8277.00 8263.00 3 months 8281.50 8270.00 Lead(US$/tonne) Cash 2280.00 2256.00 3 months 2288.00 2265.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.00 *****.00 3 months
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    • 79 29 Sep 21 COCOA (£/tonne) Close Prev High/Low Dec 12 1626 1635 1639/1611 Mar 13 1613 1618 1620/1597 May 13 1618 1623 1626/1603 Jul 13 1623 1628 1632/1610 COFFEE(US$/tonne) Close Prev High/Low Sep 12 2083 2041 Nov 12 2083 2041 2086/2051 Jan 13 2099 2056 2101/2065 Mar 13 2112 2071
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    • 1045 29 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 1 146 598 5.38 20 Conv Ratio Baker Technology Ltd W*****6 0.8 -0.1 6192 1 32 -2 41.88 2 Price Best World Intl Ltd W*****5 0.3 1
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    • 470 29 Sep 24 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.019 6.570 0.805 8.073 55.559 99.626 0.813 11.667 3.196 1.265 98.450 43.516 1.277 8.608 0.974 30.606 32.228 0.642 1.041 Canada 0.981 6.445
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    • 60 29 Sep 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 0.***** 0.***** SWAP Offer rates (S$) 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths SWAP Mid rates (S$) 12 mths 0.***** SWAP
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    • 136 29 Sep 24 GOLD(US$/oz) Sep 21 Sep 24 Hong Kong 1784.00 1757.00 Sep 24 Sep 20 Sep 21 London 1762.11 1771.59 1762.88 1772.55 Source: Thomson Reuters CAST BAR Sep 24 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 167 69 5gm 474 347 10gm
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    • 88 29 Sep 24 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****T 27-Dec-12 0.29 0.20 0.2 6-Month BS*****X 21-Mar-13 0.3 0.22 0.22 1-Year BY*****T 02-May-13 0.29 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.25 01-Feb-14 99.98 5-Year
      88 words
    • 60 29 Sep 24 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Oct 12 2410.0 2593.0 2512.0 2400.0 387 3624 Nov 12 2539.0 2693.0 2596.0 2508.0 5011 ***** Dec 12 2615.0 2763.0 2695.0 2577.0 ***** ***** Jan 13 2682.0 2826.0
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    • 155 29 Sep 24 Sep Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2769 1.2774 1.0412 1.0414 Canadian dollar 1.2525 1.2534 1.0219 1.0212 Euro 1.5857 1.5862 1.2930 1.2932 NZ dollar 1.0097 1.0101 0.8233 0.8235 Sterling pound 1.9898 1.9906 1.6225
      155 words
    • 161 29 Sep 24 $S Offer Bid 0vernight 0.15 0.10 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.20 US$ Offer Bid 7 days 0.25 0.15 1 month 0.35 0.20 2 months 0.45 0.25 3 months 0.50 0.30 6 months 0.80 0.60 9 months 0.95 0.75 12
      161 words
    • 121 29 As at 9am Sep 24 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.308 1.246 Can dollar 1.283 1.222 Euro 1.625 1.548 Sterling pound 2.026 1.949 NZ dollar 1.039 0.990 US dollar 1.244 1.197 Local dollars to 100 units of foreign
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  • PROPERTY
    • 808 30 Xinhua [DUBAI] The recent discovery of a multi-million-dollar property scam in Dubai did not halt the new hunt for renting or buying property in the sheikhdom. “Please be here on time,” real estate broker Franco Raoul said on the phone, “I expect a
      Xinhua; BLOOMBERG  -  808 words
    • 629 30 Apart from trophy assets, Indians also buying less pricey homes for residence Xinhua [KOLKATA] In a country where the majority of people do not have decent homes and the volume of sales of housing units in Indian markets is under pressure,
      Xinhua  -  629 words
    • 313 31 Bloomberg [LONDON] Luxury home prices in central London rose at their fastest rate in three months in September, powered by demand for properties that escape a new higher rate of sales tax, Knight Frank said. The average value of a house or apartment
      Bloomberg; BLOOMBERG  -  313 words
    • 827 31 State racing to draw commercial space transport companies and satellite owner-operators Reuters [CAPE CANAVERAL, Florida] With an eye toward developing a commercial spaceport, Florida has asked Nasa to transfer 150 acres of land north of the shuttle launch pads and the shuttle
      Reuters  -  827 words
    • 335 32  -  1,664 applicants for 394 units in the Serangoon View EC By ZEINAB YUSUF SAIWALLA [SINGAPORE] Heron Bay executive condominium (EC) in Upper Serangoon View, one of the more lavish EC projects, drew 1,664 applications for its 394 units after the one-week e-application
      335 words
    • 519 32  -  Strong interest seen in buildings at Kaki Bukit, Ubi, Changi South, Tai Seng By ZEINAB YUSUF SAIWALLA [SINGAPORE] Four buildings a seven-storey corner terrace building, a five-storey industrial building, a single storey factory and an industrial redevelopment site go on sale today. The
      519 words
    • 351 32 Bloomberg [BEIJING] Beijing suspended auctions of 10 land parcels in the Chinese capital, after a recovery in sales fuelled expectations among homebuyers that housing prices will surge again even as the government keeps its property curbs. The auctions are suspended “to stabilise market
      Bloomberg  -  351 words
  • Page 30 Advertisements
    • 121 30 N I I i r S Ml is mS S r "55E i. J N K 4iSl| I'll! Bill Bill Biii -731! FOR SALE 79 ANSON ROAD 16 th to 23 rd storeys (top floors) Freehold High Quality Strata Offices Strata Area: Approximately 100,007 sq ft 100% occupancy 145 carparking
      121 words
    • 57 30 1 Kaki Bukit Place FOR SALE Prominent 7 Storey corner terrace factory Excellent road frontage Land Size approximately 11,950 sq ft Built-in Area approximately 30,570 sq ft Tenure 60 years with effect from 1995 Naming rights on the building Appointed Sole Agent Low Choon Sin (CEA Reg. No.: R*****5H) 9841-0006
      57 words
    • 11 30 CATS Recruit The first step on your ladder to success WATS
      11 words

  • Page 31 Advertisements
    • 155 31 Japanese car plants in China halt production amid Diaoyu islands row 1 FREE IMPARTIAL ADVICE TO REVIEW ALL OF YOUR OPTIONS. Web www.smats.net Email smats@smats.net 10 Jalan Besar, #17-01 Sim Lim Tower Singapore *****7 Hotlin©. Australian Credit License Number: *****1 0 2 Japanese car plants in China halt production amid
      155 words
    • 105 31 Knight Frank Estate Agent Licence Number: L*****36J n i m ns: mill s i a a? m ■SH Os For Sale by Expressions of Interest dosing Wednesday, 24 October 2012 Sydney CBD Office Tower in Core Location with Opportunity to Add Value 9 Hunter Street, Sydney Prime core CBD location
      105 words
    • 285 31 RESIDENTIAL DEVELOPMENT WESTERN AUSTRALIA FOR SALE Government commitment to remove ponds Boundaries are indicative only WA, Port Hedland: Corner of McGregor and Clark Streets Site Urban Development Potential for 400+ residential dwellings. Source: town of Port Hedland 12km from the Airport, 200m from the beach. Source: Google Maps Largest Private
      285 words

  • Page 32 Advertisements
    • 41 32 r < wm. 4- c 'T3' i*. t* v m '<**• ei £jf > Aroi* .4 nit/' ■■fF\ v ■i. 1 *ssua*i r v.-^' Some stars show you the way. Muhammad Ali and a rising star. Phoenix, Arizona. Follow him on louisvuittonjourneys.com/thegreatest LOUIS VUITTON
      41 words