The Business Times, 29 January 2013

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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 SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Tuesday, January 29, 2013
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  • 736 1  -  EDB sees 2013 investment commitments of $11-13b despite staff and cost constraints By TEH SHI NING [SINGAPORE] Despite the manpower and cost challenges arising from foreign worker policy changes, Singapore still presents a “total package” that is attractive to global companies looking to
    Source: Economic Development Board  -  736 words
  • 741 1  -  PM Lee explains policy-making pitfalls and lessons S’pore has learnt By LEE U-WEN [SINGAPORE] Singapore had hoped to ride a growth wave and tailored its policies accordingly. As things turned out, this led to the crunch in public housing and
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  • MARKETS DIGEST
    • 65 1 GST INDEX 3,273.91 (+4.60) GST INDEX FUTURES 3,274.00 (+5.00) GSIMSCI 366.66 (+0.52) GSIMSCI FUTURES 367.40 (+1.10) US$ S$ US$ (S$ per US$) 1.239 (US$/S$ per 1.572 1.947 EURO (US$/S$/€) 1.343 1.664 Foreign currency per US$ S$ YEN 90.70 73.20 RM 3.045 2.458 HK$ 7.757 6.263 BAHT 29.97 24.19 RUPIAH
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    • 48 1 Monday Change KL COMP 1,637.13 +1.88 NIKKEI 225 10,824.31 -102.34 HANG SENG 23,671.88 +91.45 SET INDEX 1,472.05 +10.64 JAKARTA COMP 4,416.94 -20.66 MANILA COMP 6,192.42 +24.78 SEOUL COMP 1,939.71 -6.98 SHENZHEN B 849.96 +18.39 MUMBAI IND 20,103.35 -0.18 11am EST Change DOW 13,887.95 -9.41 NASDAQ 3,154.39 +5.49
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    • 23 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 JAPAN 14.086 TAIWAN 5.036 JAPAN 1.475 SWITZERLAND 933 BRITAIN Bloomberg Source: Bloomberg Source: Bloomberg
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  • Page 1 Advertisements
    • 204 1 PRODUCTIVITY MATTERS Re-tooling the security professional PAGE 13 PERFORMANCE MOTORS BMW revs up as car market sputters here PAGE 4 OPINION More flexibility needed in Singapore tax incentives page 24 PROPERTY Rentals in suburban malls expected to dip PAGE 32 A salad-vatingly healthy choice I PAGE 11 S M E
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  • TOP STORIES
    • 579 2  -  Electronics firms’ fixed asset investments at $6.2 billion last year By TEH SHI NING [SINGAPORE] Singapore’s electronics sector is a diversified one with a bright future, the Economic Development Board (EDB) said as it unveiled $6.2 billion in fixed-asset investments committed
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    • 497 2  -  By LEE U-WEN [SINGAPORE] Every parliamentary seat in Singapore is a “swing seat” because any swing in the votes in an election would have a nationwide effect, says Prime Minister Lee Hsien Loong. “Today, it can be very lopsided one way;
      PHOTO: KEVIN LIM/THE STRAITS TIMES  -  497 words
    • 968 2  -  Defence and prosecution clash on corruption laws By GRACE LEONG [SINGAPORE] The 14-day trial of Singapore’s biggest government corruption probe to date closed yesterday on a cliffhanger: a verdict due Feb 14 on whether former Central Narcotics Bureau (CNB) chief
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    • 29 2 IN “Green Jade lacks lustre” (BT, Jan 28), the rating at the end of the restaurant review should be 6, not 7.5. We are sorry for the error.
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    • 576 2  -  Openings unfilled for six months or more rise to 20,930 By MALMINDERJIT SINGH [SINGAPORE] Job openings grew the most in the services sector in 2012 as job vacancies here rose 4.4 per cent amid the tight labour market, which kept two in
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    • 305 2 S’pore still attractive to global firms DESPITE the manpower and cost challenges arising from foreign worker policy changes, Singapore still presents a “total package” that is attractive to global companies looking to tap the growth potential of Asia, said the Economic Development Board. Even so, the agency forecasts
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    • 230 2 Bloomberg [SINGAPORE] Government of Singapore Investment Corp invested in a mortgage programme that will provide loans for commercial property in the UK, Laxfield Capital said. The lending programme will invest as much as £1 billion (S$2 billion) over the next 24 months, Laxfield,
      Bloomberg  -  230 words
    • 1085 4  -  Performance Motors to open new facility this year with aftersales its priority Reports by JOYCE HOOI [SINGAPORE] Last year, Performance Motors Ltd (PML) drove BMW to pole position again, leaving skidmarks on all the other car brands on Alexandra Road. Now, it
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    • 292 4 BMW sees big growth in Vietnam and Indonesia this year, along with entry into Cambodia, Laos [SINGAPORE] While BMW Group sales are going gangbusters in Asia, the Singapore market sticks out like a sore thumb in the region. Last year, Asian sales for BMW Group surged 31.6
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  • Page 4 Advertisements
    • 142 4 V y Microbiologist i g' iL a i CROSS' /V Awarded Best in Cross Media Advertising (Si Asian Digital Media Awards ilver) fo Is 2012 www.stjobs.sg m Get Job alerts Via email with fresh updates of choice job matches. RESUME Get headhunted Post your CV let top employers find you
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  • COMPANY NEWS
    • 813 5  -  Biggest volumes done for Korean, Indian, Malaysian and Indonesian units By SIOW LI SEN THE demand for non-con-vertible currencies is as strong as ever, despite shrunken trading desks amid a review by the regulator on how banks set the rates for Non Deliverable Forward foreign
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    • 421 5  -  By TEO SI JIA A STUDY of high net worth individuals in Singapore, Hong Kong and Switzerland shows that private banking clients in the Republic are the most riskaverse and have the lowest level of portfolio diversification. The Singapore investors also have high expectations
      Source: LGT Private Banking  -  421 words
    • 347 7  -  Palm plantation firm to buy stake in sugar cane group for 143.4 million real By LEE MEIXIAN INDOFOOD Agri Resources is looking beyond Indonesia and making its first foray into Brazil’s commodity market. Yesterday, the palm plantation firm said that it plans to
      347 words
    • 305 7  -  By CARINE LEE AIMS AMP Capital Industrial Reit (AA Reit) will be investing $25 million to redevelop its Defu Lane 10 property. The company said yesterday that the redevelopment will treble the value of the asset to $42.6 million from $12
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    • COMPANY BRIEFS
      • 83 7 CNMC Goldmine Holdings will be getting help from China’s largest gold producer with its Sokor gold project in Kelantan, Malaysia. CNMC, through a subsidiary, signed a technical services and cooperation agreement for mine development and technology consultation with a unit of China National Gold
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      • 57 7 COSCO Corporation (Singapore) Ltd said yesterday that two shipbuilding contracts signed by a unit for the construction of two PX121 platform supply vessels had been made effective. The contracts have a total value of some US$54 million. Delivery of the two vessels is
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      • 79 7 CONSTRUCTION firm Keong Hong Holdings Ltd and property firm JBE Holdings Pte Ltd have set up a 20:80 joint-venture company to develop an executive condominium at the junction of Sembawang Crescent and Sembawang Drive. Keong Hong’s construction unit will be the main contractor,
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    • 465 7  -  Revenue down but Q3 distributable income up 3.6% By ONG CHOR HAO ASCENDAS Hospitality Trust (A-HTrust) beat its earnings forecast for a second consecutive quarter, reporting a distributable income of $12.5 million for the third quarter that ended on Dec 31. This was 3.6
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    • 394 8  -  PwC finds numerous disclosure lapses in follow-up review By KENNETH LIM INDEPENDENT auditors of Miyoshi Precision could not determine the validity of RM7.1 million (S$2.9 million) of payments and disposals, and found numerous disclosure lapses that included interested party transactions by chief executive Andrew Sin, the
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    • 311 8 NET PROFIT TURNOVER CURRENT PREVIOUS CHNG CURRENT PREVIOUS CHNG (S$m) (S$m) 1 Keppel Corp 2237.30 1945.77 15.0 *****.84 *****.47 38.5 2 Keppel Land 838.37 1374.68 -39.0 938.86 948.97 -1.1 3 CapitaMall Trust 332.22 297.84 11.5 661.59 630.57 4.9 4 Capitacommercial Trust 228.52 212.79 7.4 375.81 361.24 4.0
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    • 713 8 Compelling reasons to keep him but he has his options Reuters LEE Hsien Yang, chairman of Fraser and Neave (F&N), will enter a new chapter in his corporate life and could well leave F&N as the group looks set to be taken
      Reuters; ST FILE PHOTO  -  713 words
  • Page 5 Advertisements
    • 160 5 RACE FOR THE CHAMPIONS 0 SINGAPORE WORKFORCE SKILLS QUALIFICATIONS r WSQ OUTSTANDING ALUMNI RAINER are WSQ graduates who have contributed to the Tourism or is for adult educators F&B industry and who demonstrated achieved success in MS is a distinguished individual who champions WSQ training in the Tourism or F&B
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  • SINGAPORE MARKETS
    • 607 6  -  Only two of the top 20 actives were priced above $1 while 13 were below 10 cents STOCKS R SIVANITHY Senior Correspondent THE suggestion has been made in some circles that a better benchmark of local stock market activity is the average value per unit traded
      Source: Bloomberg  -  607 words
    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 11 3 3 0 0 0 11 3 3 Manufacturing 93 30 39 7 7 11 100 37 50 Commerce 33 19 15 6 3 3 39 22 18 Tpt/Stor/Comms 21 10 11
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    • 123 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 16,026 16,026 72,211 72,211 Manufacturing 771,049 400,962 1,172,011 403,347 6,692 410,039 Commerce 460,722 10,636 471,358 158,240 961 159,201 Tpt/Stor/Comms 141,421 14,657 156,078 159,107 4,825 163,932 Finance 87,406 408 87,814 150,667 176 150,843 Construction 660,445 268,112
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    • 111 6 Stock name Close Change CapMallsAsia 2.150 +0.010 CapitaLand 4.020 +0.040 CapitaMall 2.130 +0.010 CityDev 11.34 +0.040 ComfortDelGro 1.880 DBS Grp 14.77 +0.050 F&N 9.550 GLP 2.690 -0.040 Genting SP 1.475 +0.025 Golden Agri 0.635 +0.005 HK Land 8.010 -0.070 IHH Healthcare 1.375 +0.020 JMH 65.00 -0.900
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    • 73 6 Jan 28 VALUE CLOSE BT OB/OS 354.00 +238.00 BT CADI -*****.00 +184.00 BT 10-day MA -*****.00 +35.00 FTSE ST Mid Cap 806.20 +2.50 FTSE ST Small Cap 566.87 +4.87 FTSE ST All Share 805.65 +1.67 FTSE ST China Top 232.57 +2.21 FTSE ST China 267.52 +1.92 FTSE
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    • 52 6 VOLUME IPCO Intl 508,906,000 YHM 263,756,000 NexGenSCom 162,292,000 ICP 156,144,000 AsianMicro 143,350,000 JiutianC 141,371,000 Ntegrator 126,612,000 Interra 93,048,000 MDR W*****5 90,898,000 SingXpress 78,694,000 VALUE($) Genting SP 113,968,065 F&N 71,816,470 Wilmar 71,206,235 Noble Grp 68,100,855 UOB 50,213,250 SingTel 49,488,300 CapitaLand 49,456,720 Keppel Corp 48,981,795 HK Land 46,142,462 Interra
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    • 907 6  -  Compiled by KENNETH LIM Parkway Life Real Estate Investment Trust Jan 28 close: $2.32 CIMB RESEARCH, Jan 26 Q4/FY12 NPI (net property income) and DPU (distribution per unit) grew 6.1 per cent/7.6 per cent and 9.5 per cent/7.5 per cent y-o-y respectively, propped up by Japan and Malaysia
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    • 468 6 CURRENCIES Reuters [SINGAPORE] The South Korean won suffered its largest daily fall in 16 months, leading a slide in emerging Asian units spurred by views that some regional authorities may want softer currencies to protect exports and economies as the yen falls. The
      Reuters; PHOTO: AP  -  468 words
    • 109 6 BY CENTS CLOSE UP Hyflux 6% CPS 10 ***** 200.0 1.9 DBXT FTVietnam 10US$ 2615 87.9 2.8 DBXT CSI300 10US$ 846 31.0 3.0 Lyxor China H 10US$ 1592 27.2 1.4 IS LC 1-3Y 100S$D 1300 27.0 2.1 DairyFarm 1191 12.4 0.8 DBXT MSMSIA 10US$ 1395 11.2 0.6 Etika 47.5
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    • 120 6 BY CENTS CLOSE DOWN GLD 10US$ ***** -125.1 -0.6 DBXT MSKorea 10US$ 5842 -111.5 -1.5 JMH 6500 -111.5 -1.4 DBXT AUD Bonds 5AU$ ***** -50.2 -0.2 Jardine C&C 5183 -42.0 -0.8 JSH 3853 -33.4 -0.7 DBXT S&P Short 10US$ 3313 -31.0 -0.7 DBS Bk 4.7% NCPS 100 ***** -20.0
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    • 5 6 DAILY
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  • Page 7 Advertisements
    • 236 7 Academy Module SA301 N V. T s f*** SFUITRADING ith Technical Analysis Technical Analysis is a methodology that is often used by traders to forecast future price movements. This helps traders to identify the optimum trading opportunities which allow them to maximise their investment returns. Existing chart patterns are often
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  • Page 8 Advertisements
    • 51 8 INSIGHTS TO TACKLE STOCK MARKET VOLATILITY A i Is it going to be a bear or bull market? When to enter, when to stay put. Get all the insights you need from the market experts to better manage your investment. BTINVEST.COM.SG PROPERTY I MARKET I WEALTH I INSURANCE I PERSONAL
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  • SINGAPORE NEWS
    • 563 9  -  Far East eyes long term demand from CBD residences, commercial devts By NISHA RAMCHANDANI FAR East Organization is banking on upcoming commercial developments and residences in the CBD area to fuel demand for medical services as it readies to launch 48
      563 words
    • 349 9  -  By NISHA RAMCHANDANI THE Ministry of Trade and Industry (MTI) is inviting feedback on proposed changes to the Consumer Protection (Fair Trading) (Cancellation of Contracts) Regulations as it seeks to close an existing loophole and boost transparency. It noted that a growing number
      349 words
    • 442 9  -  By RONNIE LIM THE first liquefied natural gas supplies are set to arrive here from Qatar any time now, for use by Singapore LNG (SLNG) to commission its $1.7 billion Jurong Island terminal, which is to start operations in the second quarter.
      442 words
    • 530 10  -  NUS Business School slips to 36th place, from 27th previously By TEO SI JIA THE Master of Business Administration (MBA) programmes offered by Nanyang Technological University (NTU) and the National University of Singapore (NUS) have made it to
      530 words
    • 802 10  -  By MALMINDERJIT SINGH THE war for talent is becoming more acute, and this is the biggest challenge for multinational companies operating here, even as Singapore’s growing population makes it a more attractive destination for companies coming here. Singapore has invested
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  • Page 10 Advertisements
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  • SME Inc
    • 1127 11  -  FreshCreation Holdings is in expansion mode, tossing up more outlets, food trucks and franchising, reportsJASLENE JASLENE PANG IN A food haven such as Singapore, people need to be more conscious of what they put into their stomachs, says Adrien Desbaillets, president of FreshCreation Holdings. The group
      1,127 words
    • 1337 12  -  THE VIEW FROM NTU PROFESSORS By LEONG KAIWEN The writer, an assistant professor in economics at the Nanyang Technological University, acknowledges the contribution of NTU student Wenyou Tan for this article GIVEN the global reach of multi-na-tional corporations (MNCs) today and their
      PHOTO: REUTERS  -  1,337 words
  • Page 11 Advertisements
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    • 65 11 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
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  • Page 12 Advertisements
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  • PRODUCTIVITY MATTERS
    • 1214 13  -  Various schemes and measures are available to help raise the professionalism and productivity of the security industry which faces problems attracting staff, reports ZEINAB YUSUF SAIWALLA SECURITY ZEINAB YUSUF SAIWALLA SINGAPORE has time and again earned a reputation for being among the world’s safest cities
      PHOTO: EXCELLENT SECURITY & SAFETY  -  1,214 words
    • Article, Illustration
      657 13 Schemes for all sectors: FUNDING WORK PROCESSES IMPROVEMENT WORKFORCE DEVELOPMENT LEGEND SCHEME WHAT YOU GET WHO TO CONTACT Productivity and Innovation Credit (PIC) Inclusive Growth Programme (IGP) iSPRINT SME Management Action for Results (SMART) Initiative Innovation and Capability Voucher Scheme (ICV) Businesses can enjoy 400% tax deduction
      657 words

  • MALAYSIA/INDONESIA
    • 600 14 Medini Iskandar Malaysia is urban township developer in Iskandar region [PETALING JAYA] Following in the footsteps of Iskandar Waterfront Holdings Bhd (IWH), another Iskandar-linked entity may be mulling over a flotation. Sources told StarBiz, the business section of Malaysia’s Star daily, that Iskandar Investment
      600 words
    • 601 14 Another consequence is higher outflow of money [PETALING JAYA] Food inflation and the outflow of money are the likely consequences of the implementation of the minimum wage law, which came into force four weeks ago. From Jan 1, employers must pay
      601 words
    • 463 14 Bloomberg [JAKARTA] Indonesian President Susilo Bambang Yudhoyono is under growing pressure to raise fuel prices and curb oil imports as currency risks persist and the window to act narrows ahead of elections in 2014. The government will probably need
      Bloomberg  -  463 words
  • Page 14 Advertisements
    • 269 14 TOPICS SPEAKERS STPROPERTY SEMINAR mb PROPERTY INVESTMENT STRATEGY FOR YEAR OF THE SNAKE n V <1 tv i 1 n L i a STProperty.sg SEARCH NOW With the government's latest cooling measures, the Eurozone crisis, the US fiscal cliff and the low global interest rate; how will this affect YOU
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  • GREATER CHINA
    • 760 15 Analysts warn of rising default risk as borrowing hits US$1.7 trillion Bloomberg [SHANGHAI] Chinese companies are spending more than ever to service debt after their borrowing almost tripled over five years, prompting strategists to warn of rising default risk and a
      Bloomberg  -  760 words
    • 193 15 Reuters [SHANGHAI] China will double the number of companies domestic investors can short-sell or buy using borrowed money, part of efforts to let market forces play a bigger role in pricing equities. China has allowed investors to margin trade and short a selected list
      Reuters  -  193 words
    • 224 15 Reuters [SHANGHAI] China will start publishing regional data of total social financing (TSF), a homegrown indicator designed to measure overall liquidity in China’s real economy, to further liberalise the country’s lending system, a central bank official was quoted as saying in remarks
      Reuters  -  224 words
    • 441 15  -  By JULIE ZHU EJ Insight [HONG KONG] China, the world’s fastest-growing air travel market, has unveiled an aviation and aerospace development plan to unleash the growth potential in an industry seen as the nation’s next big frontier. Under a blueprint released by the Civil
      EJ Insight; PHOTO: REUTERS  -  441 words
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  • GREATER CHINA/INDIA
    • 597 16  -  Industry players expect it to start soon after transfer of political power By YONNEX LI EJ Insight [HONG KONG] Chinese securities brokerages are raring to get a first crack at government bond futures trading as the long wait for the release
      EJ Insight  -  597 words
    • 1043 16 Reuters [SHANGHAI] China’s central bank is signalling it is abandoning its traditional role in the domestic currency market as the ready supplier of liquidity, forcing corporations to bear more risk so that they learn how to cope with a more volatile yuan. One
      Reuters; PHOTO: BLOOMBERG  -  1,043 words
    • 635 16 Bloomberg [MUMBAI] Indian stocks are luring the biggest inflows ever for January as foreign investors grow confident the government will curb the budget deficit and boost the economy. Overseas funds bought a net US$3.01 billion of local shares this year through Jan
      Bloomberg; PHOTO: BLOOMBERG  -  635 words
    • 479 16 Bloomberg [MUMBAI] Reliance Industries Ltd and Essar Oil Ltd, operators of India’s two biggest refineries, face at least a two-year wait to profitably retail diesel, as the government prolongs the process of completely freeing prices. State-run oil companies can raise diesel by about
      Bloomberg  -  479 words
  • Page 16 Advertisements
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  • ECONOMY WATCH
    • 742 17 Jobless rate in Dec probably climbed for a 5th month to 11.9%: survey Bloomberg [LONDON] Euro-area jobless data this week will expose the social cost of last year’s debt crisis and recession on southern European economies as unemployment across the region probably
      Bloomberg; PHOTO: REUTERS  -  742 words
    • 732 17 Loans will have the smallest rise since 2003: central bank Bloomberg [BRASILIA] Brazil’s push to kick-start the economy is being jeopardised by global banking regulations that threaten to curb lending already forecast to grow the slowest in a decade. Loans will
      Bloomberg; PHOTO: REUTERS  -  732 words
    • 509 17 60-nation summit told of shifting regulations AP [SANTIAGO, Chile] A 60-na-tion summit wrapped up in Chile on Sunday with European leaders pleading for “legal certainty” and lower trade barriers between economies that together represent a billion people and about US$280 billion in bilateral
      AP  -  509 words
    • 388 17 Reuters [SANTIAGO] Five years ago during the closing speeches of a summit in Chile, Spain’s King Juan Carlos told Venezuelan President Hugo Chavez to “shut up” in an exchange that epitomised the fruitless meetings between Europe and Latin America at the time.
      Reuters  -  388 words
  • Page 17 Advertisements
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  • WORLD
    • 1118 18 There is also a sense among some firms that the situation in Europe is not as dire Reuters [NEW YORK] After four years of belt-tightening, American companies are getting good at squeezing more profit out of every dollar of sales a skill that chief
      Reuters; PHOTO: REUTERS  -  1,118 words
    • 397 18 Bloomberg [WELLINGTON] Fonterra Cooperative Group Ltd, the world’s largest dairy exporter, is consulting its biggest customer China after traces of an agricultural chemical were found in some of its milk products. China and Taiwan are testing some products after the Auckland, New Zealand-based company
      Bloomberg  -  397 words
    • 481 18 Central bank calls for caution against easing policies Reuters [SEOUL] The South Korean central bank’s policy board ramped up its warnings yesterday against a possible surge in capital inflows as a result of the ultra-loose monetary policy led by the advanced economies. “An
      Reuters; PHOTO: BLOOMBERG  -  481 words
    • 624 18 NYT [NEW YORK] When some of the world’s richest people gather for the New York auction season this spring, they will spend hundreds of millions of dollars in an art market that allows opaque transactions and has few outside monitors. At major
      NYT  -  624 words
    • 976 20 But the windfall provides only a modest boost to broader US economy AP [PITTSBURGH] Private landowners are reaping billions of dollars in royalties each year from the boom in natural gas drilling in some US states, transforming lives and livelihoods even as the
      AP; PHOTO: AP  -  976 words
    • 891 20 Bloomberg [LONDON] The lockstep moves in global stocks that have dominated equity markets for the past six years are breaking down at the fastest rate on record a sign that investor confidence is finally returning from the financial crisis. A measure
      Bloomberg  -  891 words
    • 629 20 Bloomberg [SYDNEY] Heavy rain and destructive winds are lashing the eastern coast of Australia after flooding caused by ex-tropical cyclone Oswald left three people dead in Queensland state, inundated thousands of homes and disrupted coal output. The storm system is
      Bloomberg; PHOTO: AFP  -  629 words
    • 632 20 Attempts to control exports, prices won’t be easy: planters Reuters [MUMBAI] Brewing a tea cartel is proving more difficult than a cuppa for six major producers of the world’s most widely consumed beverage which last week decided to join forces without explaining
      Reuters  -  632 words
    • 1042 21 Some of the most ambitious minds in finance are leaving the industry Reuters [DAVOS, Switzerland] As the titans of Wall Street banks gathered to network, gossip and consider the future of their beleaguered industry in Davos over the past week, one common worry
      Reuters; PHOTO: AP  -  1,042 words
    • 686 21 Reuters [MUMBAI] The biggest global alcohol companies are sizing up buyout and tie-up opportunities in China, India, South Korea and Vietnam, keen to profit from a US$258 billion Asian market that is growing twice as fast as the rest
      Reuters  -  686 words
    • 604 21 Basel panel head says banks need more time to adjust to new regulations IHT [DAVOS, Switzerland] The head of a panel that writes the global financial rule book has answered criticism that it has gone soft on banks, arguing that lenders need more time
      IHT  -  604 words
    • 499 21 AP [YANGON, Myanmar] The World Bank on Sunday announced a long-awaited deal to allow Myanmar to clear part of its huge dec-ades-old foreign debt, opening the door for new much-needed lending to jump-start its lagging economy. The bank’s Washington headquarters announced
      AP; PHOTO: AFP  -  499 words
    • 431 22 Better car sales and a housing rebound underpinning the economic expansion LATEST US DATA Bloomberg [WASHINGTON] Orders for durable goods climbed more than forecast in December, showing US manufacturing rebounded following a mid-year slump. Bookings for goods meant to last at least three
      Bloomberg  -  431 words
    • 617 22 Reuters [LOS ANGELES] Iran hostage drama Argo won its second big award in two days on Sunday, boosting its chances of winning a best picture Oscar next month in a race that had been considered wide open. Argo won best cast ensemble,
      Reuters; Photos: AP, AFP, REUTERS  -  617 words
    • 446 22 Reuters [SINGAPORE]Apple’s iconic iPhone is losing some of its lustre among Asia’s well-heeled consumers in Singapore and Hong Kong, a victim of changing mobile habits and its own runaway success. Driven by a combination of iPhone fatigue, a desire to be different
      Reuters  -  446 words
    • 512 22 Reuters [FRANKFURT] Loans to companies and households in the eurozone contracted for the eighth month running in December, showing low official borrowing costs are having little success in reviving investment and spending. The European Central Bank has cut interest rates to a
      Reuters  -  512 words
    • 665 22  -  By in ANTHONY ROWLEY in Tokyo JAPANESE Prime Minister Shinzo Abe’s government yesterday issued a bold forecast of economic growth in the fiscal year beginning in April, with nominal growth projected to outstrip real growth for the first time in many years, implying that
      665 words
  • Page 18 Advertisements
    • 711 18 WATS NOTICES CHINA X FISHERY GROUP UMITED CHINA FISHERY GROUP LIMITED (Incorporated in the Cayman Islands with limited liability) NOTICE OF BOOKS CLOSURE NOTICE IS HEREBY GIVEN that the Share Transfer Books and Register of Members of China Fishery Group Limited (the “Company") will be closed at 5.00 p.m. on
      711 words
    • 500 18 ESTANCIA SANTA ISABEL INVESTMENTS PTE. LTD. Company Registration No: *****6336Z (Incorporated in the Republic of Singapore) Registered Office: 163 Penang Road #02-03 Winsland House II, Singapore *****3 NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Company will be convened and deemed to
      500 words

  • Page 19 Advertisements
    • 326 19 Amazing Gifts When You Subscribe To THE STRAITS TIMES THE STRAITS TIMES The big push for more babies BABY BOOSTERS n.a X 1* mm PRINT iPAD SMARTPHONES ONLINE SUBSCRIBE NOW AND BRING HOME ONE OF THESE AMAZING GIFTS! Panasonic LUMIX DMC-XS1GF ''Panasonic Micro Audio SC-HC27 Tw SrhjfiT %dJ!4 2 year
      326 words




  • AVIATION/SHIPPING
    • 1178 23 Records reveal move made for airlines and Japanese firms in 787 project Reuters [TOKYO] The Japanese government stepped in to give Boeing’s now-grounded 787 Dreamliner and its made-in-Japan technology a boost in 2008 by easing safety regulations, speeding up the rollout
      Reuters; PHOTO: AP  -  1,178 words
    • 615 23 It aims to grow shipping budget by 20% this year Reuters [LONDON] Export-Import Bank of China plans to increase lending for the buying or leasing of ships by around US$3 billion this year as borrowers identify needs even during a downturn in
      Reuters  -  615 words
    • 480 23 Reuters [SAN FRANCISCO] Activist investor Carl Icahn last Friday pushed offshore driller Transocean to declare a dividend of at least US$4 per share and said if it does not, he will propose it at the company’s next annual meeting, according to a regulatory filing.
      Reuters  -  480 words
    • 241 23 SGX '000 Jan 28 S$ +/-Vol CH Offshore '000 Chuan Hup Hldg 0.31 -0.01 2037 Cosco Corp 0.96 0.01 8897 Ezra Hldgs 1.21 0.01 6769 First Ship Lea 0.13 unch 946 Freight Links 0.07 unch ***** Grand Banks 0.52 Jaya Hold Ltd 096 K1Ventures................0.16 unch 6211 Keppel Corp
      241 words
  • Page 23 Advertisements
  • Page 23 Miscellaneous
    • 299 23 CRYPTIC CROSSWORD Across 1 Headlong plunge? (11) 10 Most of the drink produces dull drone (5) 11 Respectable ladies endlessly preserving jams (9) 12 Hands in a welcome deal (9) 13 Modelled your extremities for dirty old man (5) 14 Following good publicity, buy appliance (6) 16 Pot contains recipe
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  • EDITORIAL & OPINION
    • 469 24 EDITORIAL INVESTORS around the world have poured money into China’s stock markets in the past few months as signs emerged that the economy is regaining its vigour. But beyond the headline numbers GDP grew by 7.8 per cent in 2012 there remain worries. First, much
      469 words
    • 860 24  - UK banks contemplating navels with govt assent THE BOTTOM LINE DAVID MASON The writer is a business communications consultant in the UK who spends several months a year in Singapore. He was a partner with Price Waterhouse Singapore for 18 years IN the north of Europe, the second half of
      860 words
    • 974 24  -  Tax perks for Development and Expansion is one area to review By TAN BIN ENG TRACY THAM The writers are partner and senior manager respectively of business incentives advisory at Ernst Young Solutions LLP. The views expressed are their own US Federal Reserve
      PHOTO: YEN MENG JIIN  -  974 words
    • 1295 25  -  Firms should have an enforceable Acceptable Use Policy to ensure staff productivity or sensitive data is not lost By SCOTT ROBERTSON The writer is Asia Pacific vice-president, WatchGuard Technologies Inc IT is well known that without rules chaos abounds. In the business world we protect ourselves
      PHOTO: BLOOMBERG  -  1,295 words
    • 851 25  -  By TEO LAY LIM The writer is senior managing director for Singapore Asean at Accenture AS the global economy recovers slowly, there is a sense of hope from businesses that a corner has been turned. But optimistic shareholder expectations appear to be out
      PHOTO: AP  -  851 words


  • 1560 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 STXPO TBN Camden/New
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  • Page 26 Advertisements
    • 38 26 PLACE YOUR AD HERE The Business Times Shippii G TIMES CALL JOE WOr .3 AT 9620 1327 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? The Business Times Shipping Times
      38 words

  • SINGAPORE STOCKS
    • 3338 27 Transaction date: Jan 28 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company Last Sale Vol Day Last Quote 11 6.6 AEM --AAT C'vr 159.5 98.5 AIMSAMPIReit 158 unch 531 158.5 157.5
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    • 220 28 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol 4.6 1.3 t Advanced System 1.9 +0.2 ***** 2 1.8 1.8 1.9 28.3 Last Quote Div Gr Yld Net M Cap High
      220 words
    • 10302 28 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** Aberdeen Asset Mgt Asia Limited APS Alpha Fund (USD)!** 1.13/ Aberdeen Asset Mgt Asia Limited EM Local Ccy Bond Global Emerging Markets!** Asian Smaller Cos!** .1 9081/ EM Local Ciy Bond 1.0069/ European Opportunities!" 1.1326/
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    • 262 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 $mil 50 25.5 AVJennings A40 -9 53 43 38 39 40 3.6 8.8 3.2 104.2 43.5 30 Genting HK US$ US41.5 -0.5 ***** 42.5 41.5 41 41.5 2732.6
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    • 948 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 $mil 126 107.1 ABF SG Bond ETF 118 -0.6 161 118 117.5 118 119 538.6 135.9 120.4 CIMB APAC Div 100S$D 135.8 +1.7 17 135.9 135.8 134.9
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  • FINANCE & COMMODITIES
    • 632 29 Jan 28 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.86 *****.86 *****.31 Mar13 *****.00 *****.00 *****.00 *****.00 *****0 *****6 Jun13 *****.00 *****.00 *****.00 *****.00 19 2762 MSCI TAIWAN INDEX FUTURES SPOT 275.58 276.99 275.58 Jan13 274.40 277.70 273.70 277.60 *****5 *****0 Feb13 274.10
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    • 373 29 In local curr In S$ In US$ dy yr dy yr dy yr Jan 25 Index Change Change Change Change Change Change World Preliminary 988.3 0.5 5.3 1.0 5.9 0.5 4.8 EAFE Preliminary 818.8 0.8 5.7 1.4 5.8 0.9 4.7 Europe Preliminary 1213.7 0.4 5.8
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    • 102 29 As on 25 January 2013 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE PRECIOUS METAL GOLD FUT FEB2013 1671.50 1656.30 1656.40 INDIA GOLD (E-GOLD) FUT FEB2013 565.65 562.40 564.90 INDIA GOLD (E-GOLD) FUT APR2013 570.85 567.40 575.35 CURRENCY EUR-USD FUT MAR2013 1.3449 1.3357 1.3465 BASE METAL COPPER FUT MAR2013
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    • 107 29 Jan 25 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Mar 13 1441.00 1435.25 1445.00 1426.00 May 13 1426.00 1423.75 1431.75 1412.75 Jul 13 1417.75 1417.50 1424.25 1405.25 Aug 13 1391.00 1392.50 1397.50 1381.50 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Mar 13 52.10
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    • 70 29 CRUDE OIL PRODUCTS Jan 25 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 113.19 -0.53 WTI (Near Mth) 96.03 0.81 Dubai (1-Mth F) 108.96 0.80 Tapis blend 120.00 0.87 Minas 116.10 0.87 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 107.56 -0.33 Jet Kerosene 129.50 0.40 US$/barrel OpecOil Basket
      70 words
    • 22 29 Jan 28 S$ Bid Offer 1-month 1.2385 1.2387 2-months 1.2385 1.2387 3-months 1.2385 1.2387 6-months 1.2384 1.2386 Source: OCBC
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    • 67 29 Jan 25 Jan 25 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2011.00 2041.00 3 months 2046.00 2076.00 Copper, Grade A(US$/tonne) Cash 7997.75 8064.50 3 months 8030.00 8095.50 Lead(US$/tonne) Cash 2345.25 2396.00 3 months 2355.00 2403.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00
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    • 80 29 Jan 25 COCOA (£/tonne) Close Prev High/Low Mar 13 1417 1438 1443/1413 May 13 1427 1446 1452/1425 Jul 13 1437 1455 1461/1435 Sep 13 1446 1463 1470/1443 COFFEE(US$/tonne) Close Prev High/Low Jan 13 1987 1996 1991/1983 Mar 13 1959 1946 1962/1928 May 13 1979 1962 1984/1945 Jul 13 1994
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    • 976 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 1 146 724 4.55 16 AlliedTech W*****2 Ratio Asiatravel.com HoldingsW*****7 5.2 -0.3 3 1 25 18 Asiatravel.com HoldingsW*****5 5.3 -0.2 103 1 27 42 BakerTech W*****5 Disc
      976 words
    • 470 29 Jan 28 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.049 6.474 0.774 8.069 56.007 100.862 0.943 11.374 3.167 1.248 101.694 42.550 1.288 9.332 0.966 30.733 31.179 0.662 1.040 Canada 0.953 6.169
      470 words
    • 68 29 Jan 28 (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$) 0.***** 3 mths 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths 0.***** SWAP Mid
      68 words
    • 137 29 Jan 28 GOLD(US$/oz) Jan 28 Jan 25 Hong Kong 1669.20 1681.20 Jan 25 Jan 25 Jan 24 London 1661.99 1674.36 1663.21 1675.13 Source: Thomson Reuters CAST BAR Jan 28 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 148 66 5gm 421 330 10gm
      137 words
    • 98 29 Jan 28 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 11-Apr-13 0.24 0.00 0 6-Month BS*****E 11-Jul-13 0.26 0.00 0.00 1-Year BY*****X 01-Nov-13 0.27 0.00 0.00 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0N 0.25 01-Oct-14
      98 words
    • 57 29 Jan 25 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Feb 13 2377.0 2410.0 2383.0 2370.0 263 6176 Mar 13 2430.0 2453.0 2436.0 2409.0 4896 ***** Apr 13 2462.0 2481.0 2467.0 2442.0 ***** ***** May 13 2486.0 2508.0
      57 words
    • 154 29 Jan 28 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2882 1.2888 1.0402 1.0405 Canadian dollar 1.2275 1.2282 0.9916 0.9912 Euro 1.6635 1.6642 1.3433 1.3436 NZ dollar 1.0323 1.0327 0.8336 0.8338 Sterling pound 1.9466 1.9472 1.5719 1.5721
      154 words
    • 121 29 As at 9am Jan 28 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.317 1.255 Can dollar 1.254 1.195 Euro 1.702 1.621 Sterling pound 1.985 1.909 NZ dollar 1.066 1.006 US dollar 1.260 1.200 Local dollars to 100 units of foreign
      121 words
    • 154 29 Jan 28 $S Offer Bid 0vernight 0.04 0.02 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.05 US$ Offer Bid 7 days 0.22 0.12 1 month 0.28 0.18 2 months 0.40 0.20 3 months 0.45 0.25 6 months 0.65 0.45 9 months 0.80 0.60 12
      154 words

  • PROPERTY
    • 1371 30 They must furnish reasons for the need to move in applying for deed-in-lieu deal Bloomberg [BOSTON] Fannie Mae and Freddie Mac will let some borrowers who kept up payments as their homes lost value erase their debts by giving up the properties, helping
      Bloomberg; PHOTO: AP  -  1,371 words
    • 791 30 WP [WASHINGTON] A lot of the speculation about what an improving housing market will mean for the economy has centred on new construction. After all, if the housing sector comes roaring back, new homes being built will translate into more construction workers with
      WP; PHOTO: BLOOMBERG  -  791 words
    • 676 30 Reuters [JEREMIE, Haiti] The smooth black asphalt of National Road No 7 stretches for five miles beyond Camp Perrin, a town in fertile southwest Haiti. It abruptly stops before reaching farmer Liphete Denis’ front door, replaced by a rocky dirt path that
      Reuters; PHOTO: REUTERS  -  676 words
    • 249 30 Bloomberg [LONDON] UK house prices stagnated this month and the number of new buyers looking for homes fell as concern over the euro-area debt crisis and the impact of the government’s fiscal squeeze hit demand, Hometrack Ltd said. Prices in England and Wales were
      Bloomberg  -  249 words
    • 591 31 Shares of Germany’s second-largest property firm have doubled in past year Bloomberg [BERLIN] Gagfah SA, Germany’s second-largest property company by market value, yesterday rose to its highest level in more than four years after Manager Magazin reported that the company may receive a
      Bloomberg  -  591 words
    • 739 31 Bloom berg [COPENHAGEN] Denmark’s latest bank failure was caused by bad bets on commercial property, a model for insolvency that continues to dominate the nation’s financial woes, Jyske Bank A/S chief executive officer Anders Dam said. Mr Dam, who agreed last Friday to
      Bloomberg; FILE PHOTO: AP  -  739 words
    • 1663 32  -  Prime retail space in the Orchard area expected to see stable yields By FELDA CHAY [SINGAPORE] With the bulk of retail space due to come onto the market located in the suburbs, expect to see slight downward pressure on rents for space in
      1,663 words
    • 833 32  -  By MINDY TAN [SINGAPORE] While recourse is available for homeowners following the purchase of a new home or a renovation stint, this is not to say that any and all defects can be claimed against the developer and/or renovation contractor. Being able to differentiate
      PHOTO: AP  -  833 words
    • 699 32  -  By KALPANA RASHIWALA [SINGAPORE] Prices of completed private apartments and condos generally fared worse in December over November, according to latest figures from the National University of Singapore. The university’s December flash estimate for the Singapore Residential Price Index (SRPI) series
      Source: Institute of Real Estate Studies, NUS  -  699 words

  • Page 31 Advertisements
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    • 307 31 For Sale By Tender GUANG MING INDUSTRIAL BUILDING 65 Upper Paya Lebar Road Freehold Redevelopment Industrial Site in the Paya Lebar/Tai Seng Commercial Hub Suitable for Corporate Headquarter Adjacent to Tai Seng MRT (Circleline 11) Mukim Lot 24 *****M Site Area 1,838.5 sq m (19,789 sq ft) Master Plan Zoning
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