The Business Times, 25 February 2013
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2013-02-25
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The Business Times
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Title Section25 2013-02-25 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 Monday, February 25, 201325 words
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Article, Illustration612 2013-02-25 1 TEH SHI NING - Economists expect it to be structural rather than counter-cyclical By TEH SHI NING [SINGAPORE] Today’s Budget statement will be yet another structural, strategic one underlining the government’s commitment to restructure the Singapore economy into a more productivity-driven one. Despite weak 1.3 per cent growthPHOTO: BLOOMBERG - 612 words
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MARKETS DIGEST
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Article58 2013-02-25 1 ST INDEX Weekly Change 3,288.13 +5.06 KL COMP 1,622.08 -5.85 NIKKEI 225 11,385.94 +212.11 HANG SENG 22,782.44 •662,12 SET INDEX 1,540.13 +18.61 JAKARTA COMP 4,651.12 +41.33 MANILA COMP 6,665.06 +143.42 SEOUL COMP 2,018.89 +37.7 SHENZHEN B 819.44 ■34.56 MUMBAI IND 19,317.01 -151.14 DOW 14,000.57 +18 81 NASDAQ 3,161.82 -30.2158 words
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Article29 2013-02-25 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.358 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.50 INDIA 14.45 Source: Bloomberg29 words
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Article49 2013-02-25 1 USS SS USS (SS per USS) 1.238 (USS/SS per 1.527 1.891 EURO (USS/SS/E) 1.321 1.636 Foreign currency per USS SS YEN 93.30 75.30 RM 3.101 2.504 HKS 7.756 6.263 BAHT 29.84 24.10 RUPIAH 9,703 7,836 RENMINBI 5.235 5.035 INDIAN RUPEE 54.34 43.88 AS 0.971 0.784 NZS 1.194 0.96449 words
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Article, Illustration520 2013-02-25 1 ONG CHOR HAO - Major commercial hub in the north will take 15-20 years to fully develop By ONG CHOR HAO [SINGAPORE] National Development Minister Khaw Boon Wan yesterday sketched out what Woodlands Regional Centre will be like. With 100 hectares of space available for development, Woodlands RegionalSource: URA - 520 words
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Advertisement199 2013-02-25 1 VIEWS FROM THE TOP Enhancing productivity PAGES 10-11 PROPERTY Development charges projected to rise PAGE 2 DINING OUT Hard to swallow sustainable seafood PAGE 21 is now on Twitter follow us @BTbreakingnews BT WEBSITES For breaking news, go to businesstimes.com.sg. For personal finance stories, go to btinvest.com.sg. For more information,199 words
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TOP STORIES
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739 2013-02-25 2 ROB CURRAN - Bernanke testimony bears watching for word on stimulus WALL STREET INSIGHT By ROB CURRAN THE US stock market is set to finish February exactly where it began: at 14,000 on the Dow Jones Industrial Average, on the brink of new record739 words
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Article481 2013-02-25 2 Budget statement to reiterate focus on restructuring TODAY’S Budget statement will be yet another structural, strategic one underlining the government’s commitment to restructure the Singapore economy into a more productivity-driven one. Despite weak 1.3 per cent growth in 2012 and no swift pick-up in sight this year, economists481 words
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Article, Illustration292 2013-02-25 2 SMEs IMake up more than 50% of GDP and hire 7 in 10 workers. IMany struggle with rising business costs and manpower shortages, and have not been able to raise productivity quickly enough IOnly 27 per cent of SMEs applied for the Productivity and Innovation Credit292 words
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1123 2013-02-25 2 KALPANA RASHIWALA - Consultants cite appreciation in land values over past half-year By KALPANA RASHIWALA [SINGAPORE] Property consultants expect development charge (DC) rates payable for enhancing the use of some sites or building bigger projects on them to head upwards come March 1 for all major use groups.1,123 words
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Article, Illustration734 2013-02-25 4 KENNETH LIM - But analysts say hedging would cushion this year’s impact By KENNETH LIM [SINGAPORE] A handful of Singapore-listed companies could suffer modest translational costs because of the weak Japanese yen, though a number of them have hedges in place to nullify the impact, analystsPHOTO: BLOOMBERG - 734 words
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402 2013-02-25 4 ONG CHOR HAO - It warns against cutting foreign labour growth to nil By ONG CHOR HAO [SINGAPORE] Both the Workers’ Party (WP) and the government have not addressed a “very real problem” of lumping foreign labour and foreign talent into one big basket, the402 words
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Article, Illustration1124 2013-02-25 4 SIOW LI SEN - CEO sees expansion in Indonesia, Greater China and Malaysia By SIOW LI SEN [SINGAPORE] OCBC Bank is ramping up its offshore operations. Having invested over $2 billion overseas in the past eight years, it still has more to do as the group looks1,124 words
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Advertisement18 2013-02-25 2 The best pure-play private bank in Asia EFG Bank Asiamoney Private Banking Poll 2012 30 global locations www.efginternational.com18 words
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Advertisement149 2013-02-25 3 u V N m V m. Wlm i, s K %L 'V! ■T K5 ■>«! 5?‘ m SiN v A?-?* -V- ••1 V‘?i r w- lit i r» •J-T ?>■ C KM s* m a a* <• HaBMiBlaMnHian ywfw K r Success takes imagination. Every great shot begins as a149 words
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Advertisement51 2013-02-25 4 V The Only Official International Myanmar Upstream Summit in 2013 PRODUCED BY: CO-HOSTED BY: LOCAL PARTNER: OE A P ARAM I ENERCY MYANMAR upstream 4-6 MARCH 2013 TRADERS HOTEL YANGON MYANMAR PRINCIPAL SPONSORS: Total www.cwcmyanmar.com SPONSORS; bg group >i r woodside ConocoPhillips To secure your participation please contact us at51 words
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Advertisement96 2013-02-25 4 ALMATY w Seoul Beijing Bangkok' Kuala Lumpur Hong Kong Ho Chi Minh Kuala Lumpur Almaty 3 times a week Ho Chi Minh Almaty jf- 2 times a week Beijing Almaty ■4“ 5 times a week Bangkok Almaty 7 times a week Seoul Almaty Hong Kong Almaty jjs 2 times a96 words
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SINGAPORE MARKETS
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Article, Illustration697 2013-02-25 6 R SIVANITHY - STOCKS R SIVANITHY Senior Correspondent AT some point in the future, the theatre of the absurd that is today’s stock market will become an object of study for students, historians and maybe even central bankers. This because as it stands now, as long as697 words
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505 2013-02-25 6 CURRENCIES Bloomberg [NEW YORK] The US dollar last week gained against the majority of its 16 most-traded peers after minutes from the Federal Reserve’s last meeting showed that several officials favoured varying the pace of bond purchases, which debase the currency.Bloomberg - 505 words
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Article1551 2013-02-25 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price AIMS AMP Capital Ind REIT 2.50 2.50 2 8.85 18.02 1.64 1.60 Amtek Engineering Ltd 3.25 3.00 4 0.05 8.63 0.61 0.55 ARA Asset Management 1.57 1.571,551 words
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553 2013-02-25 6 COMMODITIES AFP [LONDON] Oil and metals prices retreated last week on worries for the global economy owing to signs that the United States could end its cash stimulus programme and amid a worsening outlook for the eurozone, analysts said. Oil: Prices fellAFP - 553 words
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Article73 2013-02-25 6 Feb 22 VALUE CLOSE BT OB/OS 195.00 -69.00 BT CADI -*****.00 +73.00 BT 10-day MA -*****.00 +20.00 FTSE ST Mid Cap 815.80 -3.89 FTSE ST Small Cap 576.24 +0.48 FTSE ST All Share 810.72 -0.55 FTSE ST China Top 230.43 -0.31 FTSE ST China 261.61 -1.06 FTSE73 words
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Article54 2013-02-25 6 VOLUME IPCO Intl 1,841,533,000 Contel 1,250,921,000 YHM 996,004,000 Xpress 839,074,000 GSH Corp 765,795,000 Stratech 665,912,000 Oceanus 605,650,000 CCFH 584,442,000 MDR 563,959,000 Transcu Grp 559,426,000 VALUE($) Genting SP 369,245,440 DBS Grp 288,158,977 SingTel 251,249,218 Keppel Corp 233,829,244 CapitaLand 222,062,220 UOB 212,227,714 Thai Beverage 190,519,855 SembMar 187,194,460 Wilmar 163,350,15554 words
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Article114 2013-02-25 6 BY CENTS CLOSE UP SPDRS S&P 500 10US$ ***** 626.5 3.4 DBXT MSKorea 10US$ 6181 224.1 3.0 IS DJ US Tech 7286 188.2 2.1 JMH 6350 76.8 1.0 DBXT AUDCS 5AU$ ***** 49.8 0.2 DBXT MSEurope 10US$ 5036 48.3 0.8 DBXT iBoxxSing 5SG$ ***** 44.0 0.3 UOB 1964 32.0114 words
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Article131 2013-02-25 6 BY CENTS CLOSE DOWN GLD 10US$ ***** -574.5 -2.9 DBXT iBoxxUSTr 5US$ ***** -396.2 -1.5 DBXT FTVietnam 10US$ 2543 -262.5 -7.7 DBXT Nifty 10US$ ***** -190.7 -1.4 DBXT FTChina25 10US$ 2940 -135.0 -3.6 Lyxor China H 10US$ 1480 -86.7 -4.5 DBXT CSI300 10US$ 816 -74.3 -6.8 Hyflux 6% CPS131 words
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COMPANY NEWS
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Article, Illustration899 2013-02-25 7 JOYCE HOOI - It eyes freemium model of free basic services with chargeable extras By JOYCE HOOI IT has been 10 months since SingTel’s big reorganisation. The clarion call to invade the great digital unknown has been sounded, a digital unit created, and an exclamation mark insertedFILE PHOTO - 899 words
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Article, Illustration1904 2013-02-25 7 ROBERT HALILI - INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Limited THE trading by directors plunged last week with only 11 transactions worth $4.2 million based on filings on the Singapore Exchange from Feb 18 to 22. The figures were down from1,904 words
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595 2013-02-25 7 R SIVANITHY - HOCK LOCK SIEW By R SIVANITHY THROUGHOUT the current penny stock run, many companies have been queried by the Singapore Exchange (SGX) as to why their shares were in play. hough some have replied with vague references to ongoing business negotiations, the majority595 words
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SINGAPORE NEWS
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Article1599 2013-02-25 8 Payment Ex Rec Pay Ann (cts) date date date date AEI Corporation an 1.000 02-May 06-May 15-May 20-Feb AIMS AMP Capital Ind REIT ag 2.580 07-Feb 13-Feb 19-Mar 31-Jan Amtek Engineering aw 1.300 15-Feb 19-Feb 27-Feb 08-Feb AP Oil aw 0.500 02-Apr 04-Apr 25-Apr 20-Feb Ascendas REIT ao1,599 words
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Article, Illustration625 2013-02-25 8 LIM JIA YING - Volunteerism among its employees rose to 45% last year, says Credit Suisse By LIM JIA YING MANY would think that busy bankers are unlikely candidates for volunteer work, but it seems more are stepping up. At the Private Banking and Investment Banking division625 words
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Article176 2013-02-25 8 COMPANY MEETING PEACE DATE TIME Etowi5= Holding? A V* Kallanq Junction *[W-03 3B-Fsb 30pm Si owe Ltd t 2BJoo Fean Circle 26-Feb 1 0.30am Transview Holdings A Carnal ion Room Level 3 SingapciMj Polytechnic Giaduar*: Guild 1010DoverRoad 36-reb A i)0pm Vom4 Sliflieqic t The SLrails Room. Level 4176 words
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Article279 2013-02-25 8 Feb 22 BANKS Agricultural Bank Of China 5.50 Agricultural Bank Of China Bangkok Bank Public Co. Ltd 6.00 Bank of China Limited 5.50 Bank of Communications Bangkok Bank Public Co. Ltd Bank of East Asia Bank of China Limited ...5.50 Bank of Taiwan ...5.50 Bank of Tokyo-Mitsubishi279 words
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Page 8 Advertisements
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Advertisement263 2013-02-25 8 KATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices ADVERTISEMENT OF PROPOSED AMALGAMATION NIKON SINGAPORE PTE LTD NIKON PRECISION SINGAPORE PTE LTD NOTICE is hereby given that Nikon Singapore Pte Ltd (“Nikon Singapore”) and Nikon Precision Singapore Pte Ltd (“Nikon Precision”) intend to amalgamate and continue as one company, being Nikon263 words
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Advertisement413 2013-02-25 8 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF INTERCONTINENTAL PACKAGING PTE. LTD. (Company No. *****6176G) (In Members'Voluntary Liquidation) At the Extraordinary General Meeting of the above-named Company deemed to be held on 25 February 2013 the following resolutions were duly passed as:SPECIAL RESOLUTION "That413 words
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Advertisement122 2013-02-25 8 In the Matter of the Companies Act, Cap. 50 And In the Matter of INNORESOURCES PTE LTD Co. Reg. No. *****4511G (In Members’ Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap. 50, the Final Meeting of the abovenamed122 words
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Advertisement326 2013-02-25 8 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF MIGHTY ENGINEERING TECHNOLOGY PTE. LTD. (IN CREDITORS’ VOLUNTARY LIQUIDATION) (Company Registration No.: *****2061M) Extract of minutes of Extraordinary General Meeting of member of Mighty Engineering Technology Pte. Ltd. convened on 20 February 2013 at 9.30 a.m.326 words
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Advertisement392 2013-02-25 8 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF FINLEY INVESTMENTS PTE. LTD. COMPANYREG.NO. *****5872M (IN MEMBERS’ VOLUNTARY WINDING UP) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN, pursuant to Section 308 of the Companies Act, Cap. 50 that the Final Meeting of the abovenamed392 words
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Advertisement16 2013-02-25 8 Budget Wish SMEshopefor more government fundingwith lower requirements To subscribe, call 6388-3838 or go to sphsubscription.com.sg16 words
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BT-CITIBANK YOUNG INVESTORS' FORUM
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Article, Illustration1681 2013-02-25 9 CAI HAOXIANG - ETFs are a low-cost way to diversify a portfolio, but they come with their own risks, writesCAI CAI HAOXIANG LAST week, we discussed the benefits of diversification. Spreading one’s investments across sectors, countries and asset classes can reduce risk and the likelihood of a catastrophic price plunge.Source: Bloomberg - 1,681 words
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Article, Illustration1337 2013-02-25 9 reportsTEH SHI NING - Benson Tan and Tabatha Maitland help firms make more informed decisions about charity, reports TEH SHI NING STARTING YOUNG reportsTEH reportsTEH SHI NING THEY believed that the best way to “do something meaningful” was not to run off to join the Peace Corps but toPHOTO: ARTHUR LEE - 1,337 words
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Advertisement156 2013-02-25 9 Get started now Be a young investor DO you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to156 words
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VIEWS FROM THE TOP
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Article, Illustration4278 2013-02-25 10 THIS WEEK’S TOPIC What key challenges and obstacles need to be overcome in Singapore’s drive to raise productivity? What other steps can the government take and what incentives can it offer to help local firms improve their productivity? Max Loh Country Managing Partner Ernst Young LLP COMPANIES mustST FILE PHOTO - 4,278 words
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Advertisement11 2013-02-25 11 For the complete list of views from CEOs, go to http://businesstimes.com.sg11 words
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MALAYSIA/INDONESIA
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Article, Illustration705 2013-02-25 12 Politicians outside elite circles gain favour as they are seen to be untainted AFP [JAKARTA] A flood of corruption scandals has seriously undermined the Indonesian ruling party’s prospects in the 2014 elections and left the outcome of the polls more uncertainAFP; PHOTO: AFP - 705 words
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607 2013-02-25 12 [PETALING JAYA] The generous dividend payout that Axiata Group Bhd announced has taken analysts by surprise who deemed it as a re-rating catalyst for the stock. Some of them did not expect a special dividend payout while others who had expected it considered the amount607 words
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Article, Illustration321 2013-02-25 12 QUENTIN WEBB - REUTERS BREAKINGVIEWS By QUENTIN WEBB Reuters [LONDON] Any alien invasion of Earth could have unpredictable effects on our supply chain, competitive position, and ability to attract and retain staff. Extraterrestrial assault is probably a step too far. But it’s only aReuters - 321 words
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Article1471 2013-02-25 12 VOL Feb 22 RM +/-(‘000) VOL Advance Synerg 0.14 0.01 190 Adventa Bhd 0.27 0.01 144 Ae Multi Hldgs 0.24 -0.01 267 Affin Holdings 3.27 0.02 571 Ahmad Zaki Res 0.69 unch 121 Airasia Bhd 0.20 Alliance Finan 4 Aluminium Co 0.14 Amalgamated In 190 Ammb Hldgs Bhd1,471 words
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Page 12 Advertisements
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Advertisement64 2013-02-25 12 Where the brightest minds and best solutions converge r C S A 10-12 JULY 2013 Marina Bay Sands, Singapore Singapore’s only dedicated office solutions and business event 36 invQWe^s. E^tSnK. co^-s9 r 6938 Organised By: BIZLINK Exhibition Services Pte Ltd A SUBSIDIARY OF SfVl Blk 8 Lorong Bakar Batu, #07-0764 words
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Advertisement86 2013-02-25 12 SINGAPORE D HI 100 GREATEST R Ui. COURSES BEST HSBC SHOTS WOMEN’S CHAMPIONS bOLMN CONSISTENTLY DANANG A ii niiir jdn, TAKE PART IN THE NIKE OPEN 2013! TRY OUT THE LATEST VR_S COVERT DRIVER ON THE LAGUNA NATIONAL WORLD CLASSIC COURSE MARCH 7, 2013, THURSDAY 11.00 AM TO 9.30 PM86 words
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GREATER CHINA
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Article, Illustration527 2013-02-25 13 Move will enhance London’s drive to become yuan trade offshore centre Reuters [LONDON] Britain said last Friday that it hopes to set up a currency swap line with China soon to help finance trade, a move that will enhance London’s driveReuters; PHOTO: REUTERS - 527 words
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216 2013-02-25 13 AFP [SHANGHAI] Gold production in China surged nearly 12 per cent year-on-year last year despite a slowdown in the domestic economy, state media reported. Output rose to 403.1 tonnes in 2012, up 11.66 per cent from 2011, the official Xinhua news agencyAFP - 216 words
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463 2013-02-25 13 It cites domestic consumption, robust exports growth Reuters [TAIPEI] Taiwan on Friday raised its 2013 economic growth outlook slightly, as momentum picked up in the fourth quarter on stronger global demand, especially from its biggest trade partner China, and improving domestic consumption. TheReuters - 463 words
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Advertisement476 2013-02-25 13 STOP BE AWARE Join our Singapore Budget seminar to BE AWARE kpmg.com.sg Q< E for Easy NEWS [Q Enter symbol for company news Yesterday s News W Stocks GOOGLE INC CL A GOOG: NSDQ Last Change Volume KE&dSMH CQ3HHHI H«J 0.00 X0| Ask 0.00 X 0 Buy I t I476 words
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GREATER CHINA/INDIA
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899 2013-02-25 14 Govt allowing new entrants into the sector with a view to tap rural savings Bloomberg [MUMBAI] Indian billionaires including Kumar Mangalam Birla are vying to set up banks after rules were eased to allow companies into the business and tap rural savings.Bloomberg - 899 words
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Article, Illustration664 2013-02-25 14 Ministry of Railways to be merged into Transport Ministry Bloomberg [SHANGHAI] The new leaders of China’s Communist Party will discuss plans to restructure ministries and state institutions this week, paving the way for the first overhaul of the central government in five years. The Party’sBloomberg; PHOTO: AFP - 664 words
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523 2013-02-25 14 Bloomberg [NEW DELHI] India said this week’s budget may widen a programme providing subsidised credit to exporters as the nation strives to pare a trade deficit that has hurt the rupee. “We have made an additional request for incentives,” Commerce Secretary SR RaoBloomberg - 523 words
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Article, Illustration870 2013-02-25 14 Many owners are offloading property to raise needed cash AFP [SANYA, China] It was billed as China’s Dubai: a cluster of sail-shaped skyscrapers on a man-made island surrounded by tropical sea, the epitome of an unprecedented property boom that transformedAFP; PHOTO: AFP - 870 words
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ECONOMY WATCH
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Article, Illustration1077 2013-02-25 15 Boost in spending will unleash more hiring, further prop up the economy Reuters [NEW YORK] US companies’ capital spending plans are holding up, and mostly exceeding Wall Street forecasts, in the face of policy concerns created by arguments in Washington over theReuters; PHOTO: REUTERS - 1,077 words
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Article, Illustration563 2013-02-25 15 Scepticism growing among colleagues, says Dallas Fed head Reuters [DALLAS] Dallas Fed president Richard Fisher, a long-time opponent of the US central bank’s bond-buy-ing programme, says he sees growing scepticism from his colleagues about the effectiveness of quantitative easing (QE) in helping the jobsReuters; PHOTO: REUTERS - 563 words
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694 2013-02-25 15 Risk of backlash could limit bank’s additional purchases NYT [NEW YORK] The Federal Reserve’s plans for the eventual wind-down of its economic stimulus campaign could provoke a political reaction that will make it more difficult to control inflation, a current Fed officialNYT - 694 words
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438 2013-02-25 15 Reu ters [FRANKFURT] A top Bundesbank official warned governments not to fall behind on reforms aimed at solving the core problems of the eurozone debt crisis, saying any slippage could trigger fresh market turmoil. Joachim Nagel, in charge of market operations atReuters - 438 words
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Advertisement20 2013-02-25 15 THINK SHARE OUR INSIGHT Follow us on Facebook and Twitter as we share our thoughts on the Singapore Budget. kpmg.com.sg20 words
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WORLD
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Article, Illustration803 2013-02-25 16 ANTHONY ROWLEY - No prior pledge on tariffs on Japan farm products or some US manufacturing By ANTHONY ROWLEY in Tokyo JAPANESE Prime Minister Shinzo Abe came away from his weekend meeting with US President Barack Obama in Washington with what is beingPHOTO: AP - 803 words
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740 2013-02-25 16 Reuters [SAN FRANCISCO] Dire warnings from Washington about a “cyber Pearl Harbor” envision a single surprise strike from a formidable enemy that could destroy power plants nationwide, disable the financial system or cripple the US government. But those on the front lines say that itReuters - 740 words
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Article, Illustration423 2013-02-25 16 AP [HONG KONG] The world’s oldest marathon runner ran his last race yesterday at the age of 101. Fauja Singh finished the Hong Kong Marathon’s 10 km race in a time of 1 hour, 32 minutes and 28 seconds. Mr Singh, aAP; PHOTO: AP - 423 words
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506 2013-02-25 16 Pollsters believe most likely outcome is a centre-left govt Reu ters [ROME] Italians began voting yesterday in one of the most closely watched elections in years, with markets nervous about whether it can produce a strong government to pullReuters - 506 words
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580 2013-02-25 16 Bloomberg [DUBAI] Arqaam Capital, a Dubai-based investment bank that acquired financial companies in Libya and Egypt in 2012, may expand in South-east Asia and Africa in the coming year as demand for emerg-ing-market assets spurs revenue. “Global institutions of developed markets are currentlyBloomberg - 580 words
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846 2013-02-25 17 Cuts will shave 0.5% from GDP as public sector, contractors tighten spending AFP [WASHINGTON] Looming austerity cuts will reduce aid to the poor, cause widespread flight delays and close parts of national parks, further hurting the US economy, government officials and analystsAFP - 846 words
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Article, Illustration775 2013-02-25 17 Investors get good returns if the project meets its target AFP [LONDON] Whether it’s tackling reoffending or keeping troubled families together, cash-strapped Britain is turning to a new pay-ment-by-results scheme to provide public services and selling it to the world. Three years after theyAFP; PHOTO: REUTERS - 775 words
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Article, Illustration830 2013-02-25 17 It has invited tenders for 18 onshore oil blocks AFP [YANGON] While other countries may be more reliable and better equipped, Myanmar has emerged as the new promised land for global oil and gas giants unperturbed by a lack of data on its provenAFP; PHOTO: AFP - 830 words
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293 2013-02-25 17 Reuters [WASHINGTON] Fifty US business executives will visit Myanmar this week to explore trade and investment opportunities in the resource-rich nation now that the United States has eased sanctions, the US Chamber of Commerce said on Friday. “This delegation trip is an important milestone,”Reuters - 293 words
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702 2013-02-25 18 Companies rely on exports as tax hikes, spending cuts keep lid on local demand Reuters [MILAN] Bioplastics group Mossi Ghisolfi has hired 50 people a year for the last five years not bad when Italy’s unemployment has risen steadily to a 13-year highReuters - 702 words
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Article, Illustration503 2013-02-25 18 Reuters [PARIS] France will not introduce any further austerity measures this year but instead focus on spending cuts in 2014 to bring its deficit down to 3 per cent of GDP that year, French President Francois Hollande said on Saturday. The Europe-wideReuters; PHOTO: REUTERS - 503 words
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Article, Illustration1089 2013-02-25 18 NYT [SIENA, Italy] Cut into the stonework of the imposing Palazzo Salimbeni is a name that has been entwined with the fortunes of this Tuscan city for five centuries: Monte dei Paschi, or Mount of the Pastures. Since the days of the MediciNYT; PHOTO: AFP - 1,089 words
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742 2013-02-25 18 AFP [MADRID] Big-spending Russian tourists are flocking to Spain’s beaches and famous landmarks in ever greater numbers, providing a much-needed boost to the reces-sion-hit country’s key tourism industry. They are drawn by the country’s mix of pleasant weather, sandy beaches, historic monuments andAFP - 742 words
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Article, Illustration882 2013-02-25 19 His one regret is not being able to work through TPP before departing Reu ters [WASHINGTON] When US Trade Representative Ron Kirk came into office four years ago, he famously said that he did not have a “fever” to negotiate trade deals. ButReuters; PHOTO: AP - 882 words
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Article, Illustration474 2013-02-25 19 AFP [SYDNEY] The incoming chief executive of BHP Billiton, Andrew MacKenzie, said on Sunday he will maintain focus on costs and productivity when he takes the helm at the world’s biggest miner in May. The Anglo-Australian giant announced on Wednesday that Marius KloppersAFP - 474 words
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Article, Illustration923 2013-02-25 19 Reuters [MADRID] Spain’s latest energy reform, which reverses years of policy to promote renewable power, threatens to reinforce its dependence on coal and costly gas and to bankrupt renewable firms that have built a competitive edge over a decade. Once aReuters; PHOTO: REUTERS - 923 words
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802 2013-02-25 19 Access to big Asian markets needed for export revolution Reuters [NEW YORK] A free trade agreement between the US and Europe could open new markets for domestic natural gas, but without access to big growth Asian markets there may not beReuters - 802 words
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Page 17 Advertisements
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Advertisement15 2013-02-25 17 PLAN BE INFORMED Download KPMG’s Budget 2013 reference guide from the Apple App Store. kpmg.com.sg15 words
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Page 19 Advertisements
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Advertisement18 2013-02-25 19 CUT THROUGH COMPLEXITY Let us help you cut through the complexities of issues surrounding the Singapore Budget. kpmg.com.sg18 words
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AVIATION/SHIPPING
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Article, Illustration1025 2013-02-25 20 Economic benefits being weighed against impact on environment NYT [CHARLESTON, South Carolina] In this Southern coastal city that runs on history and hospitality, a raucous civic debate belies its genteel veneer. Like several communities that hug the nation’s coastline, CharlestonNYT; PHOTO: AP - 1,025 words
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635 2013-02-25 20 Ground work has been laid for a more significant recovery this year: CEO NYT [PARIS] An aggressive cost-cutting effort at Air France-KLM showed the first faint signs of bearing fruit on Friday, as the airline said it had managed to trim itsNYT - 635 words
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330 2013-02-25 20 AFP [COPENHAGEN] Danish conglomerate AP Moel-ler-Maersk reported on Friday an annual profit above expectations thanks to an Algerian tax settlement, and said that profit from its container ships business would rise this year. Net profit in 2012 grew 29 per centAFP - 330 words
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Article238 2013-02-25 20 SGX '000 Feb 22 S$ +/-Vol CH Offshore 0.49 unch 189 Chuan Hup Hldg 0.29 unch 269 Cosco Corp 0.97 0.02 6809 s$ Ezra Hldgs 1.16 0.01 2334 First Ship Lea 0.13 unch 645 Freight Links 0.08 unch 3540 Grand Banks.............unch unch 0 Jaya Hold Ltd 0.49 K1Ventures238 words
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Page 20 Advertisements
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Advertisement123 2013-02-25 20 MARINA BAY SANDS, SINGAPORE February 26 28, 2013 10:00 TO 18:00hrs www.bairdmaritime.com IS ALL IT TAKES TO CONTACT: ASIAN WORK BOAT 2013 EXHIBITION BUT, WITH SO MUCH TO SEE, ONE VISIT SURELY WON’T BE ENOUGH. ENTRY IS FREE– All Welcome! Don’t miss the FIVE ASSOCIATED CONFERENCES. Check our website for123 words
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Page 20 Miscellaneous
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Miscellaneous318 2013-02-25 20 CRYPTIC CROSSWORD Across 1 Able to see clearly live show’s heading for disaster? (12) 9 Hot movie creator revealing arrogance (7) 10 Harry’s dead spoilt (7) 11 TV channel? (4) 12 Neck, lip or elsewhere (5) 13 Some louche rock’n’roll idol (4) 16 Arm below the wrist? (7) 17 Idly318 words
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DINING OUT
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Article, Illustration840 2013-02-25 21 Jaime Ee - By Jaime Ee NEW RESTAURANT Ocean Restaurant S.E.A Aquarium Resorts World Sentosa Tel: 6577 6869 Open daily from 11am to 10.30pm I HAVE a thing about eating dead seafood next to their live cousins. Mind you, this is not bleeding heart activ-ist-speak. I have no840 words
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Article, Illustration921 2013-02-25 21 DEBBIE YONG - Top chefs discuss Asian cuisine and ketchup By DEBBIE YONG WHAT do some of Asia’s top chefs talk about when they get together in Singapore? Ketchup, it seems. Or more pertinently, how a chef should react when a diner demands ketchup at his restaurant. It was an issue that sharplyPHOTO: ASIA’S 50 BEST - 921 words
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Page 21 Advertisements
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Advertisement60 2013-02-25 21 ICISS92 fm I Get the iconic YSL Muse Bowler bag you always wanted. Tune in to Kiss92 to find out how to make this yours! PARTNER R E E B O N Z REEBONZ.COM Kiss us always! like us on D facebook.com/kiss92fm follow us on 0kiss92fm www.kiss92.sg DOWNLOAD THE KISS9260 words
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SINGAPORE STOCKS
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Article3374 2013-02-25 22 Week ended: Feb 22 52-wks Last Vol Week Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company Last Sale Vol ('000) 164 104.5 AIMSAMPIReit --AAT Div GrYld C'vr Net P/E M Cap Smil 15 11.4 STelecom 1933,374 words
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Article289 2013-02-25 23 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last 4.6 1.3 t Advanced System 2 -0.1 ***** 2.3 2 2 2.1 29.8 Week Last Quote Div Gr Yld Net M Cap High289 words
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Article112 2013-02-25 23 Stock name Close Change CapMallsAsia 2.090 -0.010 CapitaLand 3.910 +0.010 CapitaMall 2.160 -0.020 CityDev 11.23 -0.030 ComfortDelGro 1.925 -0.005 DBS Grp 15.19 +0.040 F&N 9.440 GLP 2.700 Genting SP 1.555 +0.055 Golden Agri 0.650 Stock name Close Change HK Land 7.760 +0.020 IHH Healthcare 1.335 JMH112 words
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Article2069 2013-02-25 23 Transaction date: Feb 22 HONG KONG Vol HK$ +/-'000 Aeon Credit Vol Aeon Stores 19.32 -0.48 2 Angang Steel 5.30 0.02 8647 Anhui Conch Anhuiexpresswa 4.55 -0.03 546 Asia Satellite 29.15 -0.40 1 Asm Pacific -0.48 Bank Of E Asia 31.00 -0.15 1317 Beida Jade Bir 5.30 Beijing2,069 words
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Article272 2013-02-25 23 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 50 25.5 AVJennings A39 unch 76 40.5 39 39 40 3.6 9 3.1 101.6 45.5 30 Genting HK US$ US45 +2 ***** 45.5 42.5 44.5 45 2963272 words
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Article186 2013-02-25 23 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 7 6 0 0 0 3 7 6 Manufacturing 92 75 29 14 16 4 106 91 33 Commerce 32 37 8 9 5 4 41 42 12 Tpt/Stor/Comms 19 20 7186 words
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Article1043 2013-02-25 23 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 126 107.1 ABF SG Bond ETF 118 unch 36 118.5 117.5 55 538.6 135.9 120.4 CIMB APAC Div 100S$D 135.8 133.6 134.5 111.7 95.8 CIMB APAC1,043 words
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Article123 2013-02-25 23 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 425,487 425,487 428,498 428,498 Manufacturing 5,967,453 2,975,673 8,943,126 1,708,993 101,878 1,810,871 Commerce 3,074,429 530,788 3,605,217 645,775 53,035 698,810 Tpt/Stor/Comms 630,499 97,429 727,928 778,262 32,591 810,853 Finance 662,738 12,024 674,762 867,293 5,681 872,974 Construction 2,527,370 1,003,062123 words
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Advertisement26 2013-02-25 23 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES26 words
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FINANCE & COMMODITIES
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Article641 2013-02-25 24 Feb 22 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.75 *****.65 *****.67 Mar13 *****.00 *****.00 *****.00 *****.00 *****2 *****2 Jun13 *****.00 *****.00 *****.00 *****.00 1284 ***** MSCI TAIWAN INDEX FUTURES SPOT 286.45 287.45 285.28 Feb13 286.90 287.80 284.70 286.80 ***** *****3 Mar13 287.00641 words
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371 2013-02-25 24 H'l. •ifl tf n Ml Mlui A I'*' U' U|| ■•>,( V/V| 00 #0 1 UTi il *‘\fm irf(«ii tin n tti jTi 4* M Wrt (III •|.vl|| v<* *7 Mi f i »i* ini-: j f* VII yj rj) 00| ■All i wt A371 words
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Article470 2013-02-25 24 Feb 22 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 6.424 0.780 7.991 55.989 99.975 0.961 11.180 3.195 1.230 101.082 41.915 1.276 9.136 0.958 30.523 30.746 0.675 1.030 Canada 0.954 6.126470 words
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Article134 2013-02-25 24 Feb 22 GOLD(US$/oz) Feb 22 Feb 21 Hong Kong 1591.00 1578.00 Feb 21 Feb 22 London 1580.49 1573.10 1581.71 1573.85 Source: Thomson Reuters CAST BAR Feb 22 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 142 63 5gm 402 315 10gm 718 630134 words
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Article92 2013-02-25 24 Feb 22 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****F 23-May-13 0.26 6-Month BS*****S 22-Aug-13 0.27 1-Year BY*****X 01-Nov-13 0.27 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-13 100.19 100.25 100.17 5-Year N*****0Z 2.37592 words
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Article58 2013-02-25 24 Feb 22 Feb KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Mar 13 2481.0 2478.0 2495.0 2475.0 592 6330 Apr 13 2508.0 2509.0 2529.0 2505.0 3208 ***** May 13 2532.0 2534.0 2555.0 2527.0 ***** ***** Jun 13 2547.058 words
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Article135 2013-02-25 24 Feb 22 .\tilnn SS Xfcllful U5S currtnci** fad Offur Kiri OFf#» to onto wut of AjiluitoK; i ?1W. 1 KW •0£M l./rtMfllfln doll.iT UIC iaitr a«pt o«*?: tur o 14*V* i *io* •itro f'l/ liuifal I.MK^ i •j •:i'»nlnf| pound l #*lfi 1 9*1* I cts p?*135 words
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Article143 2013-02-25 24 As at 9am Feb 22 unit VfflytfANW f/tW.tr. fci q/i«* Of lorriOO UfftVHt \> Currencies Sell Buy •iiH' cJo'Mr i ja* 1 p>* Cf>|Ui •1 ,3*t> 1 IHt. tllfC--[.on i tf9| :-t* iinva p^mvj l.w’c i -i57 N2 •iolUi t r« i u r efajw 1143 words
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Article128 2013-02-25 24 Feb 22 00Mi •iiu r l uiiiiilTi »U > mrtiKTi* H iV MTWlfl# u lii ijjwnnrnm«t aoi USiOf|U« Mi ilj" P\l i inoflib a.v ilk J inyAllv J inyAibv 1 •f Mijnib*. III* tm tdlMlNl'. II U9 U iiiuiTlh'i ■IW ft/f iAi| im.i Uir' Tnooih fit ini' IllOOIfl'128 words
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Article108 2013-02-25 24 Feb 22 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Mar 13 1461.25 1487.75 1516.50 1459.50 May 13 1443.75 1470.50 1497.00 1442.00 Jul 13 1429.00 1454.50 1483.50 1427.00 Aug 13 1389.50 1414.00 1441.25 1388.25 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Mar 13108 words
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Article80 2013-02-25 24 Feb 22 COCOA (£/tonne) Close Prev High/Low Mar 13 1424 1419 1434/1418 May 13 1434 1428 1441/1425 Jul 13 1442 1438 1450/1434 Sep 13 1449 1447 1459/1441 COFFEE(US$/tonne) Close Prev High/Low Mar 13 2048 2030 2055/2036 May 13 2087 2069 2094/2070 Jul 13 2096 2077 2101/2080 Sep 13 210280 words
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1037 2013-02-25 24 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 15 Conv Asiatravel.com HoldingsW*****7 4 -1 110 1 25 17 Asiatravel.com HoldingsW*****5 4 -1 110 1 27 41 BakerTech W*****5 14.8 0.9 *****1,037 words
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Article70 2013-02-25 24 CRUDE OIL PRODUCTS Feb 21 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 114.30 -1.79 WTI (Near Mth) 92.72 -1.78 Dubai (1-Mth F) 110.11 -2.36 Tapis blend 120.59 -2.62 Minas 117.09 -2.62 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 109.00 -2.83 Jet Kerosene 132.77 -2.60 US$/barrel OpecOil Basket70 words
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Article24 2013-02-25 24 Feb 22 Feb 22 s$ Bid Offer 1-month 1.2382 1.2384 2-months 1.2382 1.2385 3-months 1.2382 1.2385 6-months 1.2382 1.2385 Source: OCBC24 words
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Article65 2013-02-25 24 Feb 22 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2004.75 2034.25 3 months 2048.00 2076.00 Copper, Grade A(US$/tonne) Cash 7773.25 7832.25 3 months 7801.00 7861.00 Lead(US$/tonne) Cash 2291.75 2307.75 3 months 2304.00 2326.00 Nickel (US$/tonne) Cash *****.50 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.75 *****.00 3 months65 words
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Article86 2013-02-25 24 Feb 22 (OSS) (SSI I fnth >20*50 03HG7 7 mfh* 3.2S000 O.ibOOQ XimK d ***** 0 5758* (s imht 3.‘V6000 C.A3708 0 Mill 14 oitaooo 0.***** 12 rrrtK'j 07*1 &7 O.S$f$7 SWAP Offei rates (SS) C* 23G69 X mihi o urns L mlh> (i 4 •i mtfv. <j vi86 words
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Article2754 2013-02-25 25 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/New2,754 words
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Page 25 Advertisements
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Advertisement27 2013-02-25 25 Shippers looking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES Shipping Times27 words
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Advertisement18 2013-02-25 25 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times Shipping Times18 words
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Page 26 Advertisements
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Advertisement128 2013-02-25 26 Importers looking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 the business times mi: invicj Shipping Times I FREIGHT FORWARDER urgently needed by shippers i Can they find your services here in the Shipping Times? TO ADVERTISE, CALL128 words
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Advertisement11 2013-02-25 26 TO ADVERTISE IN The Business Times Shipping times CALL JOE WONG11 words
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Advertisement9 2013-02-25 27 www.omy.sg W Ol EM KIIS» ■i IM > P yzone.omy.sg9 words
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Advertisement33 2013-02-25 27 I m T SMAPORES HOT hottest I Wm ms LIGHTNING STRIKES CATCH THE ALL NEW NISSAN HOT FM91.3 THUNDER TRUCK TUNE IN TO HOT FM91.3 FOR MORE INFO WWW.HOTFM.SG I FACEBOOK.COM/HOTFMSG 3* HOTFMSG33 words
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BizIT THE USINESS OF INFOCOMM TECHNOLOGY
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Article, Illustration877 2013-02-25 28 VICTORIA HO - Payment giant uses more advanced technology to detect and deter fraud better, reportsVICTORIA VICTORIA HO EVERY year, 80 billion transactions cross payment giant Visa’s networks from retailers and banks all over the world. The massive volume of data provides a treasure housePHOTO: REUTERS - 877 words
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Article, Illustration892 2013-02-25 28 They should protect, not be parasitic and unreasonable: firms Bloomberg [WASHINGTON] The top lawyers for Microsoft Corp and Oracle Corp say a US debate over rampant patent litigation could endanger businesses that rely on such legal protections for their innovative software. Companies includingBloomberg; PHOTO: AP - 892 words
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765 2013-02-25 28 STREE NAIDU - Firms need systematic response to thwart it <yousay> By STREE NAIDU The writer is Imperva’s Asia Pacific and Japan VP SKILLS and knowledge are not the only things that employees soak up in an organisation; many of them also collect corporate data765 words
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302 2013-02-25 27 WP [WASHINGTON] The Federal Trade Commission announced on Friday that it had settled charges that HTC America had inadequately secured its smartphones and tablets, leaving sensitive user information vulnerable to malicious programs. Regulators said that HTC had modified the operating systems on its mobileWP - 302 words
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Article, Illustration1071 2013-02-25 27 reportsAMIT ROY CHOUDHURY - Symantec study shows two distinct types of companies when it comes to mobility: ‘innovators’ and ‘traditionalists’, reports AMIT ROY CHOUDHURY reportsAMIT reportsAMIT ROY CHOUDHURY SINGAPORE companies are looking at mobility as a valuable business asset that enhances productivity and in this respect1,071 words
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Article, Illustration310 2013-02-25 27 Its Galaxy Note 8 takes on Apple’s iPad Mini AP [BARCELONA] Samsung Electronics is beefing up its tablet range with a competitor to Apple’s iPad Mini that sports a pen for writing on the screen. The Korean company announced here yesterday that the Galaxy Note– AP; PHOTO: AFP - 310 words
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751 2013-02-25 27 AFP [BARCELONA] Chinese handset makers will lead an onslaught on smartphone titans Samsung and Apple when the world’s biggest mobile fair opens today in Barcelona, Spain. Offering big-screen, slick, slim smartphones at lower prices, Chinese manufacturers Huawei, ZTE and LenovoAFP - 751 words
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