The Business Times, 13 March 2013

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Total Pages: 32
1 32 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Wednesday, March 13, 2013
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  • 991 1  -  Cheaper or even free early morning trains, flexible work arrangements on the cards By MALMINDERJIT SINGH [SINGAPORE] Going to work in the heart of town may never be the same again. Some workers may find themselves hopping onto trains early in the
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  • MARKETS DIGEST
    • 65 1 GST INDEX 3,303.02 (+10.05) GST INDEX FUTURES 3,296.00 (+10.00) GSIMSCI 372.71 (+2.03) GSIMSCI FUTURES 372.40 (+1.00) US$ S$ US$ (S$ per US$) 1.249 (US$/S$ per 1.489 1.860 EURO (US$/S$/€ 1.301 1.625 Foreign currency per US$ S$ YEN 96.40 77.20 RM 3.110 2.489 HK$ 7.757 6.210 BAHT 29.63 23.72 RUPIAH
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    • 47 1 Tuesday Change KL COMP 1,656.54 -1.42 NIKKEI 225 12,314.81 -34.24 HANG SENG 22,890.60 -200.22 SET INDEX 1,576.68 -0.97 JAKARTA COMP Closed MANILA COMP 6,786.42 -27.53 SEOUL COMP 1,993.34 -10.01 SHENZHEN B 814.54 -11.65 MUMBAI IND 19,564.92 -81.29 12noon EDT Change DOW 14,450.00 +2.71 NASDAQ 3,237.93 -14.94
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    • 23 1 SINGAPORE MALAYSIA MALAYSIA HONG KONG HONG KONG 5.00 INDONESIA JAPAN TAIWAN KOREA JAPAN 1.475 KOREA CANADA BRITAIN 0.50 US Source: Bloomberg
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  • 432 1  -  By VEN SREENIVASAN [SINGAPORE] Several Sin-gapore-based investors, including property developer Ching Chiat Kwong, are funding a communications satellite project based in Australia that will provide new bandwith to customers in emerging markets. Sydney-listed NewSat Ltd said last week that it had completed a A$105
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  • Page 1 Advertisements
    • 207 1 SEA ASIA 2013 No job too big for heavy lifters PAGE 21 EXEC MONEY Inflation seen re-emerging soon PAGE 32 STRAIT TALK Piracy: No room for complacency PAGE 20 LIVING IN STYLE Spoilt for choice PAGE 9 Combining 212 years of experience, 50 locations worldwide and 2 leading teams with
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  • TOP STORIES
    • 501 2  -  Healthcare financing review to take one more year to finish By LYNN KAN [SINGAPORE] Singaporeans may get a more flexible Medisave scheme and have insurance schemes such as MediShield and ElderShield play a greater role in their healthcare bill but those are goodies
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    • 471 2  -  Plans for such needs extend 50 years and beyond, says Vivian Balakrishnan DEBATE ON BUDGET 2013 Reports by LYNN KAN [SINGAPORE] Neither water supply nor landfill space will be limiting factors to Singapore’s population growth. Minister for the Environment and Water Resources
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    • 469 2 Nursing homes, home care subject to higher standards [SINGAPORE] Four more acute care hospitals and up to 12 more polyclinics will be built by 2030 to ensure that Singapore has adequate healthcare coverage, Health Minister Gan Kim Yong told Parliament yesterday.
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    • 783 2  -  Many feel the $20k MRA Grant annual limit is too low By FELDA CHAY [SINGAPORE] Helpful this was the word that smalland medium-sized enterprises (SMEs) here used after the government on Monday unveiled details of initiatives to boost the sector’s productivity. The SME
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    • 514 2 Radical ideas mooted to beat the rush hour GOING to work in the heart of town may never be the same again. Some workers may find themselves hopping onto trains early in the morning and getting a $1 discount, or perhaps paying nothing at all, for the journey.
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    • 595 3  -  Top bid in Jurong East site far exceeds expectations at $1,009 psf ppr By ONG CHOR HAO [SINGAPORE] The top bid for a 99-year leasehold commercial site at Venture Avenue in Jurong East has far exceeded consultants’ expectations, demonstrating a pent-up demand for strata
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    • 472 3  -  Move to encourage more to take part; bigger prizes this year By MA XIANGYU [SINGAPORE] The selection criteria for the Emerging Enterprise 2013 Award (EE2013) has been relaxed to encourage more small and medium-sized enterprises to take part, and the quantum of
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    • 378 3  -  The 8 resignations come just over a month after the new CEO is appointed By MALMINDERJIT SINGH [SINGAPORE] The Singapore Indian Chamber of Commerce and Industry (SICCI) has been hit by eight staff resignations in less than two weeks, prompting speculation
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  • Page 2 Advertisements
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  • COMPANY NEWS
    • 624 4  -  Offer at $4.15 a share, up from $4; rival STC lets offer lapse By ANDREA SOH UNITED Engineers (UE), which earlier announced a pre-conditional offer for WBL Corporation at $4 a share, will be making a mandatory offer for WBL Corporation at
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    • 474 4  -  Multi-stage acquisition of property estimated to cost $59-69m By MICHELLE QUAH ASCENDAS Property Fund Trustee Pte Ltd, the trus-tee-manager for Ascendas India Trust (a-iTrust), yesterday announced its investment in the third aVance Business Hub property (aVance 3) being constructed in Hyderabad, India. The
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    • 344 4  - ST Engg unit buys IP assets from Pratt Whitney By LEE MEIXIAN ST Engineering’s subsidiary EcoServices LLC, a US-based provider of advanced technology engine wash services to both commercial and military aircraft operators, has exercised a purchase option with Pratt Whitney to acquire and use intellectual property (IP) assets associated
      PHOTO: BLOOMBERG  -  344 words
    • 489 4 Bloomberg ARA ASSET Management Ltd, a manager of real estate trusts partly owned by billionaire Li Ka-shing, wants to double assets under management over five years as its private funds buy more properties. ARA, which manages about $22.1 billion
      Bloomberg  -  489 words
    • 777 7  -  It’s useful to explain move in retrospect but not in indicating future performance By KENNETH LIM ONE-FIFTH of the trades on the Singapore Exchange (SGX) on Monday involved short-sellers, according to initial data released by the exchange. Liquid large market capitalisation
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    • 233 7  -  By JASMINE NG KEPPEL Logistics said yesterday it is planning to set up an air logistics hub in eastern Singapore. It declined to disclose the size of its investment, citing commercial sensitivity. The company, which is a unit of Keppel Telecommunications Transportation (T&T),
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    • 321 7  -  By TEO SI JIA STRONGER revenue and a gain on fair value of marketable securities more than doubled Freight Links Express Holdings’ third-quar-ter net profit to $8.72 million from $3.8 million a year earlier. Earnings per share rose to 0.36 cent from 0.17
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    • 388 8  -  Placement shares issued at about 3.7 cents apiece start trading By LEE MEIXIAN SHARES in Myanmar play WE Holdings Ltd, which plunged by almost half to 6.8 cents on Monday, took another beating yesterday as placement shares issued at about 3.7 cents started trading.
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    • 308 8  -  By MARIA MALA YOGALINGAM THE Singapore Sports Hub has signed on a joint venture between Singapore food specialist SATS and American hospitality management company Delaware North Companies as its exclusive caterer. SATS and Delaware North Companies, which have a 70:30 ownership respectively in
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    • COMPANY BRIEFS
      • 43 8 KSH Holdings Limited said yesterday it is looking to raise about $13.9 million via a share placement. It intends to place up to 30.9 million new shares and 4.1 million treasury shares at 40.8 cents apiece.
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      • 111 8 POH Lian Construction (PLC), a subsidiary of United Fiber System Limited, has applied to the High Court to place itself under judicial management. PLC has been experiencing “significant financial and operational difficulties”, the group said. For the financial year of 2012, United Fiber recorded a
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      • 62 8 Z-OBEE Holdings has received in-principle approval from the Singapore Exchange for a change in its listing status on the exchange from a primary one to a secondary one. The approval is subject to the company obtaining shareholder approval and keeping its primary
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    • 495 8 Bloomberg [HONG KONG] DBS Group Holdings, South-east Asia’s largest bank, plans to expand its Hong Kong loan book by about 10 per cent this year, mainly targeting small and medium-sized companies and trade with mainland China. DBS’s 2012 yuan
      Bloomberg; PHOTO: BLOOMBERG  -  495 words
  • Page 4 Advertisements
    • 83 4 f VS •y vr I L sot SINGAPORE UNIT TRUSTS Amanah Mutual Berhad (*****4-U) 34 th Floor, Menara PNB, 201-A, Jalan Tun Razak, ***** Kuala Lumpur, Malaysia. AMB Client Services Tel (603) 2034 0800 Fax (603) 2163 3212/2535 E-mail ambcare@pnb.com.my A member company of the Permodalan Nasional Berhad Group Distribution
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  • Page 5 Advertisements
    • 261 5 REBORN. ALL-NEW SYLPHY. FEEL THE AURA OF THE NEW DEFINITIVE SEDAN Rising above it all with modern sophistication and luxuries that are a class ahead. Cruising on a seamless wave of super-smooth power, made possible by its new generation Xtronic CVT mated to its advanced all-aluminium engines. Stirring emotions with
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  • SINGAPORE MARKETS
    • 582 6  -  Penny stocks back in play following the past week’s beating; WE Holdings still tops actives list STOCKS R SIVANITHY Senior Correspondent THE Straits Times Index (STI) yesterday managed a second consecutive gain this week on the back of yet another all-time high for
      Source: Bloomberg  -  582 words
    • 73 6 Mar 12 VALUE CLOSE BT OB/OS -694.00 +278.00 BT CADI -*****.00 +57.00 BT 10-day MA -*****.00 -70.00 FTSE ST Mid Cap 809.39 +2.74 FTSE ST Small Cap 558.47 +3.06 FTSE ST All Share 811.11 +2.61 FTSE ST China Top 218.56 +0.52 FTSE ST China 248.22 +0.89 FTSE
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    • 53 6 VOLUME WE Hldgs 579,686,000 SingXpress 467,320,000 IPCO Intl 224,329,000 MDR 182,974,000 CarrierNet 168,854,000 NexGenSCom 146,875,000 Ntegrator 119,078,000 YHM 114,675,000 ChinaACorp 105,462,000 Magnus 83,139,000 VALUE($) DBS Grp 88,647,290 SPH 84,244,320 GLP 82,586,910 SingTel 74,059,250 CapitaLand 58,826,520 Genting SP 46,780,020 Wilmar 43,373,980 WE Hldgs 38,053,931 HPH Trust US$ 35,594,379
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    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 6 1 0 0 0 6 6 1 Manufacturing 53 50 46 5 9 15 58 59 61 Commerce 30 25 12 7 2 2 37 27 14 Tpt/Stor/Comms 17 12 12
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    • 121 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 117,559 117,559 56,325 56,325 Manufacturing 408,578 418,920 827,498 239,919 8,731 248,650 Commerce 333,898 664,042 997,940 76,622 40,739 117,361 Tpt/Stor/Comms 115,553 13,941 129,494 184,584 5,013 189,597 Finance 49,009 199 49,208 162,666 92 162,758 Construction 282,327 115,072
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    • 922 6  -  Compiled by LYNN KAN Wilmar International March 12 close: $3.34 OCBC Investment Research, March 12 WILMAR International fell some 3.8 per cent on Monday to $3.30, likely spooked by news that China’s inflation rate has rebounded to a 10-month high. This, after consumer prices rose 3.2 per cent
      Source: Bloomberg  -  922 words
    • 112 6 Stock name Close Change CapMallsAsia 2.040 +0.030 CapitaLand 3.580 +0.050 CapitaMall 2.100 -0.010 CityDev 11.190 -0.060 ComfortDelGro 1.930 +0.030 DBS Grp 15.680 +0.220 F&N 9.440 GLP 2.640 +0.030 Genting SP 1.520 -0.010 Golden Agri 0.600 -0.005 HK Land 7.360 +0.010 IHH Healthcare 1.365 -0.020 JMH 65.400
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    • 457 6 CURRENCIES Reuters [SINGAPORE] The Thai baht hit a 28-month high yesterday helped by offshore hedge funds’ demand amid expectations of more inflows, leading gains in emerging Asian currencies, while the Philippine peso edged up to a three-week peak on bids from foreign banks.
      Reuters; PHOTO: BLOOMBERG  -  457 words
    • 111 6 BY CENTS CLOSE UP JSH 4031 51.2 1.0 DBXT MSINDIA 10US$ 905 37.5 3.4 GLD 10US$ ***** 35.0 0.2 DBXT MSBrazil 10US$ 578 30.0 4.3 Total Access 299 26.2 7.6 DBXT MSTHAI 10US$ 2271 25.0 0.9 DBS Grp 1568 22.0 1.4 DBXT Nifty 10US$ ***** 18.7 0.1 Spore Land
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    • 121 6 BY CENTS CLOSE DOWN JMH 6540 -199.9 -2.4 Jardine C&C 5348 -62.0 -1.1 DBXT FTChina25 10US$ 2945 -53.7 -1.4 DBXT MSAsExJp 10US$ 3353 -35.0 -0.8 DairyFarm 1205 -28.7 -1.9 Isetan 470 -20.0 -4.1 DBXT MSINDO 10us$ 1709 -18.7 -0.9 DBXT FTVietnam 10US$ 2520 -16.2 -0.5 DBXT S&P Short 10US$
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    • 5 6 DAILY
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  • Page 7 Advertisements
    • 294 7 Singapore Everyday Banking London Property Melbourne School Fees Overseas Investment Paris Vacation Your local and foreign currency transactions all in one account. 6 We are introducing DBS Multi-Currency Autosave DBS Multi-Currency Autosave makes managing your money easier and more efficient. Like a giant wallet, it gives you room to save
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    • 23 7 crust Qoo.\rh.lX FRANCHISE OPPORTUNITY Australia's N0.1 Gourmet Pizza HAS ARRIVED IN SINGAPORE Email us at franchising(g)crustpizza.com.sg ww tv. cr list pizza, co m.sg
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  • Page 8 Advertisements
    • 97 8 Jones Day Professorship of Commercial Law Lecture Foreign Judgments, Foreign Insolvency, and the results of Rubin Speaker Professor Adrian Briggs Jones Day Professor of Commercial Law Commentary Matthew J Skinner Jones Day Singapore Wednesday, 10 April 2013 5.00 pm to 6.30 pm (Registration starts at 4.30 pm) Venue Singapore Management
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    • 394 8 cnv/r A t> r F Investment k3lTArVIVX International Property Expo LOCAL OVERSEAS PROPERTY STOCKS FUNDS ALTERNATIVE INVESTMENT 16 (Sat) 17 (Sun) March 2013 11 am 7pm Hall A, Sands Expo Convention Center, Marina Bay Sands (Bayfront MRT station, Exit D) LOCAL OVERSEAS PROPERTY MARKET UPDATE SHOW Highlights LIVE PRESENTATIONS FROM
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  • LIVING IN STYLE
    • 941 9  -  Multi-label boutiques offer an element of surprise new discoveries can be found amid a choice of upscale labels that reflect the store’s style positioning and appeal to more individualistic tastes, as CORINNE KERK finds out CORINNE KERK FOR fashionistas with a sense of adventure and an aversion
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  • Page 9 Advertisements
    • 145 9 ft A Fashion has its own rewards. m Introducing Citi Prestige. Your passport to a world of unforgettable experiences. PRESTIGE Cltl r Get connected to accelerated rewards at selected Club 21 boutiques islandwide with 10 Citi Dollars* for every dollar you spend. 5125 BOH 18 i/ia EUGENE LIN SMS "Prestige"
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  • SINGAPORE NEWS
    • 569 10  -  Workplace seeing shift away from Asian notions of job longevity, stability By WEE LE TING CONTRACT positions appear to be gaining traction among both employers and workers here, say recruitment firms. Pioneered by the banking and finance sector and larger multinational corporations, contract
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    • 247 10 CITI Singapore has raised $113,376 through a series of activities held in conjunction with International Women’s Day. The money went to non-profit organisation Tsao Foundation, which promotes longevity through community health, social services, education, and policy and research. Together, the two had established
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    • 386 10  -  By MINDY TAN SBF Center has seen healthy sales, with 75 per cent of the 186 units released 138 office units and 48 medical suites finding buyers. Of the office units, 113 have been sold with prices starting from $3,200 per square
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    • 379 10  -  By GRACE NG UNDERSEA cable and data centre operator Pacnet yesterday announced its plan to build a Tier III data centre in Paya Lebar. This US$90 million investment, slated for completion in December, will be the fifth Pacnet data centre here.
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    • 337 10  -  By NATHANIEL CHEW THE National University of Singapore (NUS) will offer a new undergraduate degree programme in business analytics starting in August. The Bachelor of Science (Business Analytics) programme is a four-year direct honours programme with an interdisciplinary curriculum, which will be hosted
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  • Page 10 Advertisements
    • 251 10 Excellence Sharing 2013 BUSINESS £r SERVICE EXCELLENCE SHARING BUSINESS AND SERVICE EXCELLENCE FOR QUALITY GROWTH The Business Service Excellence Sharing aims to help companies leverage on business and service excellence to boost productivity and promote quality growth. It provides a learning platform of best practice sharing from the 2012 Business
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    • 17 10 Head to CATS FASTADS in The New Paper for job opportunities! WATS BUY IT• SELL IT-FIND IT
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  • MALAYSIA/INDONESIA
    • 495 11 Its bid, believed to be the highest, is said to be a whopping RM1.4b [PETALING JAYA] The race is heating up in the financial sector for the acquisition of standalone investment banker Hwang-DBS (M) Bhd. Sources confirmed that the front runner for
      PHOTO: BLOOMBERG  -  495 words
    • 398 11 Palm oil venture postponed due to unrest in Sabah [KUALA LUMPUR] Felda Global Ventures Holdings Bhd (FGV), the world’s largest crude palm oil producer, has put on hold its plans to venture into southern Philippines due to the unrest in Sabah and the region.
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    • 212 11 Bloomberg [TOKYO] Sumitomo Mitsui Financial Group Inc has discussed a potential purchase of TPG Capital’s US$1.7 billion stake in Indonesia’s PT Bank Tabungan Pensiunan Nasional (BTPN), said a person with knowledge of the matter. Sumitomo Mitsui Banking Corp, the lending unit of
      Bloomberg  -  212 words
  • Page 11 Advertisements
    • 290 11 AIA RETIREMENT SAVER SAVINGS Retire only from work nof froiji Ijifp. w V. V- > SMBEbzS M Jlu. -.U m Jl: itsi I a •o’ m r;-i v-i-Jr-. r as aft ;--r>T fcf ft m -0 -7*f i I 6»v V w V u t Enjoy your current lifestyle even
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  • GREATER CHINA
    • 735 12  -  China’s regulators making it easier for companies to delist their B shares By WINNIE LIU EJ Insight [HONG KONG] China’s moribund B-share market is increasingly out of sync with the nation’s financial ambitions. Losing relevance by the day, it could be phased out anytime
      EJ Insight  -  735 words
    • 440 12 Li Yuanchao’s appointment is sign of Xi Jinping’s clout Reuters [BEIJING] A reformist member of China’s decisionmaking Politburo, Li Yuanchao, is set to become the country’s vice-president this week instead of a more senior and conservative official best known for keeping the media in check,
      Reuters; PHOTO: REUTERS  -  440 words
  • Page 12 Advertisements
    • 81 12 ***** The Business Times CORPORATE GOLF LEAGUE DRIVE YOUR BUSINESS FROM THE FAIRWAY. 'V --r •40' 'V ■r -T-P'-A A-.G-TO A Cf A AGTaYAoAA; AG c c M bs-w-ac. ST a il a SH v>'sSCv vKjftaSS Ssfcv Be part of the league. Sign up for the definitive corporate golf event
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  • GREATER CHINA/INDIA
    • 494 13 Reu ters [NEW DELHI] India’s industrial output expanded for the first time in three months in January, an early sign that Asia’s third largest economy may have turned a corner but it likely won’t prevent the central bank from easing monetary policy further.
      Reuters; PHOTO: AP  -  494 words
    • 654 13 China watchdog’s uncertainty has created widening spreads Reuters [LONDON] China’s antitrust regulator could become the new best friend of hedge funds seeking to profit from the unpredictability of the youngest of the world’s main watchdogs. The country’s Ministry of Commerce (MOFCOM) is becoming
      Reuters  -  654 words
  • Page 13 Advertisements
    • 60 13 Where the brightest minds and best solutions converge F M 1 m c ASIA 10-12 JULY 2013 Marina Bay Sands, Singapore Singapore’s only dedicated office solutions and business event Organised By: BIZLINK Exhibition Services Pte Ltd A SUBSIDIARY OF SfVl Blk 8 Lorong Bakar Batu, #07-07 Singapore *****3 Tel: (65)
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    • 237 13 <v r s s rps J r A P r f wA' r y y s /> »> > -?vy >v V» P y r H p’ r Y// r s S r .'AS. y. r .ry- is iv vy ’>/•■// ei,//./'//. //Ss/y pf/// TP r P i 1 p
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  • ECONOMY WATCH
    • 755 14 Proposals submitted by Ryan, Murray to frame debate over taxing, spending Reuters [WASHINGTON] With little prospect of getting rid of the automatic spending cuts that kicked in on March 1, the US Congress and the White House will move on to bigger
      Reuters  -  755 words
    • 399 14 Abe’s policies expected to boost stock prices, make it easier to sell shares Bloomberg [HONG KONG] Initial public offerings (IPOs) in Japan may jump 67 per cent this year as Prime Minister Shinzo Abe’s policies boost stock prices and make it
      Bloomberg  -  399 words
    • 423 14 Liam Fox’s speech widens split in Cameron’s coalition Reuters [LONDON] Britain should freeze spending and cut taxes, a senior lawmaker in Prime Minister David Cameron’s party said, deepening divides within the coalition government just days before a budget. Former defence minister Liam
      Reuters  -  423 words
  • Page 14 Advertisements
    • 102 14 m tcfc if m ■s e EECC Kill 0 rr mmsm J=r S I IBlUBEI ii--. l.F fm r; 'L (!>♦% F-: f\uj^/ U kiSS92 o m S592 ISS92 »=J> o f 1 Ss kiss ■•V >'.?! *s N /> •tx s iSB/' sjk vv 4S>V A getaway at Singapore's
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  • WORLD
    • 650 15 US$270b just to get school buildings back to their original conditions AP [WASHINGTON] America’s schools are in such disrepair that it would cost more than US$270 billion just to get elementary and secondary school buildings back to their original conditions and twice
      AP  -  650 words
    • 715 15 Bloomberg [NEW YORK] American International Group Inc (AIG) had more than US$600 million in impairments since the end of 2010 on deathbenefit bets as the company was stuck paying insurance premiums for people who lived longer than the firm expected. The insurer
      Bloomberg; PHOTO: REUTERS  -  715 words
    • 537 15 Website publishes LAPD chief’s Social Security number AP [LOS ANGELES] Authorities and celebrities were grappling with how to respond to a website that posted what appears to be private financial information about top government officials and stars such as Jay-Z and Mel Gibson. Los Angeles
      AP  -  537 words
    • 510 16  -  But it registers its opposition to Kikuo Iwata as one of two deputy governors By in ANTHONY ROWLEY in Tokyo HARUHIKO Kuroda is assured of becoming the new governor of the Bank of Japan (BOJ) after the main opposition Democratic Party of Japan
      PHOTO: REUTERS  -  510 words
    • 322 16 Bundesbank sharply increases its risk provisions Reuters [FRANKFURT] The eurozone crisis is not over, France is slipping on reforms and the Bundesbank has set aside billions in new provisions for what it sees as risky European Central Bank (ECB) moves, Germany’s central bank
      Reuters  -  322 words
    • 549 16 Reuters [PARIS] A cultural shift is underway at Europe’s largest retailer, Carrefour, as bosses at its French stores get more freedom after years of control from headquarters near Paris. Empowering local managers is part of retail veteran G eor g es Pl
      Reuters  -  549 words
    • WORLD WATCH
      • 68 16 Reuters [MADRID] Spain pledged 3.5 billion euros (S$5.7 billion) over four years yesterday to ease mass unemployment among the country’s youth, as the government tries to stem a relentless tide of layoffs and lengthening jobless queues. Prime Minister Mariano Rajoy presented 100 different measures
        Reuters  -  68 words
      • 95 16 Bloomberg [LONDON] A planned international limit on bank indebtedness will be on the agenda of every meeting of the Basel Committee on Banking Supervision this year as regulators seek to wean lenders off their addiction to debt. Regulators are preparing to fight lenders
        Bloomberg  -  95 words
      • 67 16 Reuters [BANGKOK] Thai rosewood, which fetches exorbitant prices on the international market, was granted protection under international law yesterday, with China the main target. Member states at the annual Convention on International Trade in Endangered Species (Cites) voted to list Thai rosewood under Appendix
        Reuters  -  67 words
    • 866 17 It hopes to convince Beijing that the army is interfering with China’s foreign policy NYT AP [WASHINGTON] The White House has demanded that the Chinese government stop the widespread theft of data from US computer networks and agree to “acceptable norms of
      NYT; AP; PHOTO: AFP  -  866 words
    • 486 17 Coal mining projects now need national govt approval Reuters [CANBERRA] Australia will impose tougher environmental hurdles on coal and coal seam gas mining, responding to mounting public concern about protection of fragile water resources from the impact of extraction, Environment Minister Tony Burke said yesterday. The
      Reuters  -  486 words
    • 397 17 Bloom berg [SYDNEY] Seven West Media Ltd and Nine Entertainment Co, Australia’s two largest free-to-air broadcasters, may be allowed to take over smaller networks if a government committee approves potential changes to media rules. The government will set up a parliamentary committee to look
      Bloomberg  -  397 words
  • Page 15 Advertisements
    • 110 15 Prego ‘Springs’ To Life With ‘Colori Di Primavera’ 1 March 29 April As spring emerges, be enthralled by the myriad of colours at Prego as it brings the freshest produce and vegetables to the dining table. Tuck into a colourful picture of vibrant perfection with the Lobster Salad with Yellow
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  • Page 16 Advertisements
    • 1315 16 ROXY-PACIFIC HOLDINGS LIMITED Co. Registration No. *****0135Z (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Roxy-Pacific Holdings Limited (the “Company”) will be held at Frankel Room, 3rd Floor Grand Mercure Roxy Hotel, Marine Parade Road, Roxy Square,
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    • 1671 16 WATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CAR 50 AND IN THE MATTER OF ASSA ABLOY SOUTH ASIA PTE. LTD. (In Members’ Voluntary Liquidation) Reg No. *****4395K NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 10 Arumugam Road, #06-00
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  • Page 17 Advertisements
    • 1484 17 GALLANT VENTURE LTD. (Incorporated in the Republic of Singapore) (Company Registration No. *****3179Z) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (“EGM”) of Gallant Venture Ltd. (the “Company”) will be held at Amara Singapore Hotel, Ballroom 1, Level 3, 165 Tanjong Pagar Road, Singapore
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  • EDITORIAL & OPINION
    • 531 18 EDITORIAL EARLIER this week, National Development Minister Khaw Boon Wan announced that there may be further cooling measures for Housing and Development Board flats on the horizon. These include the possibility of mandating that HDB flat owners be allowed to sell their homes back
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    • 807 18  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 ALMOST 24 years after the Chinese military cracked down on protesters in Tiananmen Square and across the country, the American public’s
      807 words
    • 933 18  -  It could be a smart tactical move by Islamabad ahead of strategic developments in region By SAJJAD ASHRAF The writer, Pakistan’s high commissioner to Singapore from 2004 to 2008, serves as an adjunct professor at the Lee Kuan Yew School of Public
      PHOTO: AP  -  933 words
    • 1235 19  -  Impact of the bribery incident surfaces, with the S’pore firm involved reporting a $16m loss in revenue from Apple By MAK YUEN TEEN The writer is associate professor of accounting at the NUS Business School, where he teaches corporate governance and ethics IN
      PHOTO: BLOOMBERG  -  1,235 words
    • 1022 19  -  By SHAHID JAVED BURKI The writer, a former Pakistani finance minister and World Bank vice-president, is visiting senior research fellow at the Institute of South Asian Studies, an autonomous research institute of the National University of Singapore ONE sentence in President Barack Obama’s State
      PHOTO: REUTERS  -  1,022 words


  • Transport HUB
    • 604 20  -  Somali pirates have suffered setbacks, but there’s no justification for pulling back counter-measures STRAIT TALK By DAVID HUGHES THERE has been some good news on piracy in the past few days. Somali pirates have released two ships, albeit presumably after the payment of ransoms. Last
      604 words
    • 692 20 CEO says economics much better: others expected to follow Bloomberg [SINGAPORE] Maersk Line, the world’s biggest container shipping company, will stop using the Panama Canal to transport goods from Asia to the US east coast as bigger ships help the company
      Bloomberg; PHOTO: BLOOMBERG  -  692 words
    • 197 20 Bloomberg [HONG KONG] Loss-mak-ing China Cosco Holdings, which operates the world’s largest dry bulk cargo fleet, said that it plans to sell its logistics unit to boost earnings and reduce the risk of the firm being suspended from trading in Shanghai. The shipping conglomerate, hard
      Bloomberg  -  197 words
    • 336 20 Reuters [COPENHAGEN] Maersk Line and its rivals are expected to fail in an attempt on Friday to raise rates on the key Asia to Europe route, as they seek to boost profits following years of a sector slump and overcapacity. Maersk Line,
      Reuters  -  336 words
    • 330 20 Reuters [LONDON] European Union targets to reduce sulphur emissions from the shipping sector will lead to huge costs for the British marine industry and reduce the country’s competitiveness, according to a report by UK engineering consultancy AMEC. Last year, EU
      Reuters  -  330 words
    • 230 20 SGX '000 Mar 12 S$ +/-Vol CH Offshore 0.48 unch 60 Chuan Hup Hldg 0.27 unch 101 Cosco Corp 0.91 0.01 2053 s$ First Ship Lea Freight Links Grand Banks.............unch unch 0 Jaya Hold Ltd 0.27 K1Ventures 0.18 unch 1867 Keppel Corp 11.86 -0.03 1454 Mercator Lines 0.12
      230 words
    • SEA ASIA 2013
      • 1565 21  -  Singapore has emerged as a centre for heavy-lift specialists expanding into Asia, reportsVINCENT VINCENT WEE THE world of heavy-lift ships and project cargo companies is one that most people do not come into contact with and have little understanding of. Simplistically put, it
        1,565 words
    • TRANSPORT HUB: AVIATION
      • 515 22  -  Inter-ministerial differences will be sorted out, says official By S JAYASANKARAN in Kuala Lumpur MALAYSIAN budget carrier AirAsia’s airline foray into India, said to be facing bureaucratic hurdles, should be resolved soon. According to India’s Economic Times, the republic’s Planning Commission
        FILE PHOTO  -  515 words
      • 469 22 NYT [NEW YORK] Aviation security leaders are moving forward with plans to shift towards a risk-based system of passenger screening an idea supported by the travel industry and government officials who want screeners to focus on travellers who may present a
        NYT  -  469 words
      • 272 22 Bloomberg [SYDNEY] Qantas Airways, Australia’s largest carrier, is discounting flights to Asia to lure more passengers as an alliance with Emirates adds 40 per cent more seats on routes to Singapore. The carrier has “still got a lot of capacity to
        Bloomberg  -  272 words
      • 522 22 Bloomberg [KUALA LUMPUR] Malaysia’s long-haul budget carrier AirAsia X plans to sell its first sukuk this year, joining Emirates Airline in favouring Islamic bonds over more costly loans. The company, which was started by millionaire Tony Fernandes who owns the UK’s Queens
        Bloomberg  -  522 words
      • 671 22 Reuters [ORLANDO] European planemaker Airbus has hinted at imminent orders worth over US$10 billion for A320neo passenger jets, saying cumulative orders for the revamped jet would probably hit 2,000 by the end of this month. Airbus has so far sold 1,878 of
        Reuters  -  671 words
    • TRANSPORT HUB: LAND
      • 655 23 Ford, Hyundai deliveries both top 40%; Japanese brands hit by backlash over islands dispute Bloomb erg [BEIJING] China’s passenger vehicle market had its strongest start since 2010, indicating auto demand is thriving relative to other industries at a time when broader indicators are
        Bloomberg  -  655 words
      • 536 23 Bloomberg [PARIS] Europeans bought 335,480 small sport-utility vehicles last year. None of them were built by French automakers. PSA Peugeot Citroen and Renault aim to change that with new models that they say will help them woo younger drivers and
        Bloomberg; PHOTO: BLOOMBERG  -  536 words
      • 212 23 Bloomberg [TOKYO] Nissan Motor, Japan’s second-largest automaker, put its electric-vehicle business under the direct supervision of the chief operating officer after sales of the Leaf missed the company’s expectations. Toshiyuki Shiga will oversee zero emission vehicle strategy and the battery business
        Bloomberg  -  212 words
  • Page 20 Advertisements
    • 24 20 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* HOTFMSG
      24 words
    • 103 20 CATS CLASSIFIED PROPERTY SEMINAR 2013 OPPORTUNITIES IN PROPERTY INVESTMENTS? Get insights and a glimpse of emerging trends from experts in the real estate industry! Date: 23 March 2013 (Saturday) Time: 9am 1 pm or 2pm 6pm Venue: 30 Biopolis St, Matrix, Level 2 Auditorium Early Bird Ticket Prices (by 13
      103 words


  • Page 22 Advertisements
  • Page 22 Miscellaneous
    • 307 22 CRYPTIC CROSSWORD Across 1 Bodices need ripping to contain one’s defiance (12) 9 Usual hamper containing nearly everything (9) 10 From a habitat incorporating US city (5) 11 Angel’s harp’s played around end of life (6) 12 Support team which is behind (8) 13 Army without backing for decoration (6)
      307 words

  • Page 23 Advertisements
    • 581 23 Amplify Your Brand Business With Strategic Planning Who should attend: Brand owners. Social Media Digital Marketers, Public Relations Practitioners, Business Developers, Sales Managers Personnel, Senior and Middle Management, Supervisors and Jobseekers Tertiary Students looking to develop personal excellence. 2013 MARCH SERIES Jr/iA ST OBS No.l Awarded Best in Cross Media
      581 words

  • Page 24 Advertisements
    • 333 24 Amazing Gifts When You Subscribe To THE STRAITS TIMES l Mi THE STRAITS TIMES The big push for more babies BABY BOOSTERS *:]Sps- Q ib.::: -Z m rzm RAI III IMI-S t DtWlED .a B a PRINT IPAD SMARTPHONES ONLINE SUBSCRIBE NOW AND BRING HOME ONE OF THESE AMAZING GIFTS!
      333 words

  • 2746 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/New
    2,746 words
  • Page 25 Advertisements

  • Page 26 Advertisements

  • SINGAPORE STOCKS
    • 3274 27 Transaction date: Mar 12 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 15 11.4 8Telecom Sale Vol Day Last Quote (’000) High Low Buyer Seller Div Gr Yld 5.8 3 A-Sonic
      3,274 words
    • 198 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 1.7 unch 5699 1.8 1.7 1.7 1.8 25.3 Last Quote Div Gr Yld Net M Cap High
      198 words
    • 7940 28 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** Aberdeen Asset Mgt Asia Limited Aberdeen Asset Mgt Asia Limited Asian Local Ccy SD Bond 1.0085/ Asian Smaller Cos'" 2 0151/ EM Local Ccy Bond 1.012/ European Opportunities 1 1 1568/ Global Emerging Markets 1
      7,940 words
    • 249 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 $mil Low 46.5 30 Genting HK US$ US45 unch 3410 45 44.5 44.5 45 2963 Last 260 181 TanChongInt HK247 -1 15 247 247 248 250 4.3 2.8
      249 words
    • 932 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 $mil Low 136.8 120.4 CIMB APAC Div 100S$D 136.8 136.8 137.7 111.7 95.8 CIMB APAC Div 100US$ US106.6 109.5 110.2 11.2 1403 1246 CIMBASEAN40 100S$D 1403cd 1413
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  • FINANCE & COMMODITIES
    • 632 29 Mar 12 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.60 *****.97 *****.81 Jun13 *****.00 *****.00 *****.00 *****.00 *****7 *****7 Sep13 *****.00 112 119 MSCI TAIWAN INDEX FUTURES SPOT 288.44 289.74 286.87 Mar13 288.90 289.70 286.90 287.80 ***** *****3 Apr13 288.70 288.70 286.70 287.80
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    • 373 29 In local curr In S$ In US$ dy yr dy yr dy yr Mar 11 Index Change Change Change Change Change Change World Preliminary 1026.7 0.2 9.4 0.4 9.5 0.3 7.1 EAFE Preliminary 858.2 0.5 10.8 0.7 8.0 0.6 5.6 Europe Preliminary 1242.1 0.1 8.3
      373 words
    • 471 29 Mar 12 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.056 6.390 0.790 7.974 55.885 99.680 0.991 11.261 3.196 1.247 100.616 41.766 1.284 9.415 0.976 30.507 30.453 0.690 1.028 Canada 0.947 6.049
      471 words
    • 68 29 Mar 12 (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$) 0.***** 3 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 12 mths SWAP Mid
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    • 134 29 Mar 12 GOLD(US$/oz) Mar 12 Mar 11 Hong Kong 1590.50 1589.50 Mar 11 Mar 08 London 1579.35 1574.21 1580.15 1574.98 Source: Thomson Reuters CAST BAR Mar 12 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 143 64 5gm 405 318 10gm 724 635
      134 words
    • 88 29 Mar 12 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****Z 13-Jun-13 0.26 6-Month BS*****H 05-Sep-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-13 100.1 100.16 100.15 5-Year N*****0Z 2.375
      88 words
    • 57 29 Mar 12 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Mar 13 2418.0 2400.0 2418.0 2380.0 214 1215 Apr 13 2430.0 2404.0 2432.0 2402.0 1983 ***** May 13 2440.0 2411.0 2442.0 2406.0 ***** ***** Jun 13 2442.0 2414.0
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    • 155 29 Mar 12 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2838 1.2844 1.0278 1.0281 Canadian dollar 1.2154 1.2159 0.9732 0.9730 Euro 1.6246 1.6251 1.3006 1.3008 NZ dollar 1.0293 1.0299 0.8240 0.8244 Sterling pound 1.8600 1.8605 1.4891 1.4892
      155 words
    • 107 29 Mar 11 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Mar 13 1514.75 1508.50 1518.00 1504.00 May 13 1479.50 1471.00 1484.00 1467.25 Jul 13 1454.75 1447.25 1459.50 1443.00 Aug 13 1407.25 1404.00 1412.50 1400.25 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Mar 13 50.24
      107 words
    • 79 29 Mar 11 COCOA (£/tonne) Close Prev High/Low Mar 13 1440 1426 1440/1426 May 13 1451 1441 1453/1435 Jul 13 1464 1457 1465/1450 Sep 13 1475 1468 1477/1461 COFFEE(US$/tonne) Close Prev High/Low Mar 13 2136 2151 2163/2134 May 13 2190 2181 2198/2177 Jul 13 2188 2175 2195/2179 Sep 13 2184
      79 words
    • 892 29 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 4 1 146 650 5.00 14 AlliedTech W*****2 Ratio Asiatravel.com HoldingsW*****7 3 1 25 16 Asiatravel.com HoldingsW*****5 3.3 1 27 40 BakerTech W*****5 Disc Best World Intl Ltd
      892 words
    • 70 29 CRUDE OIL PRODUCTS Mar 11 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 109.54 0.09 WTI (Near Mth) 91.89 0.09 Dubai (1-Mth F) 106.08 -0.01 Tapis blend 115.66 -0.84 Minas 111.16 -0.84 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 104.78 unch Jet Kerosene 125.05 -0.94 US$/barrel OpecOil Basket
      70 words
    • 22 29 Mar 12 S$ Bid Offer 1-month 1.2491 1.2493 2-months 1.2490 1.2493 3-months 1.2490 1.2493 6-months 1.2488 1.2496 Source: OCBC
      22 words
    • 65 29 Mar 11 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1909.25 1923.25 3 months 1951.50 1965.00 Copper, Grade A(US$/tonne) Cash 7725.25 7710.50 3 months 7758.00 7740.50 Lead(US$/tonne) Cash 2177.75 2193.75 3 months 2196.00 2212.50 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
      65 words
    • 121 29 As at 9am Mar 12 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.312 1.250 Can dollar 1.244 1.185 Euro 1.664 1.585 Sterling pound 1.894 1.822 NZ dollar 1.063 1.003 US dollar 1.273 1.213 Local dollars to 100 units of foreign
      121 words
    • 161 29 Mar 12 $S Offer Bid 0vernight 0.03 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.01 US$ 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 0.60 0.40 9 months 0.75 0.55 12
      161 words

  • Page 30 Advertisements
    • 260 30 Which Way for the US Dollar? Trade Forex on your iPhone with POEMS Mobile! Against the current backdrop of the debt ceiling crisis and central bank stimulus efforts, will the Dollar regain strength? Find out from Phillip Futures. To trade the Dollar, look out for: Interest rates decisions by the
      260 words
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  • Page 31 Advertisements
    • 375 31 ARE YOU STILL TRYING TO TIME THE MARKET? TIME TO TAKE STOCKTM Since the bottom of the market downturn several years ago, many investors have been waiting on the sidelines for the “right time” to get back into the market. In doing so, they’ve missed out on significantly positive market
      375 words

  • executive Money
    • 897 32  -  The risk of inflation is returning and investors should adjust their strategies accordingly, reportsTEH TEH HOOI LING THE risk of inflation has been ignored by investors in the last few years, but that risk is returning and investors should adopt an inflation-beat-ing strategy in the positioning
      PHOTO:REUTERS  -  897 words
    • 1900 32  -  Investors should check that Reit fundamentals are sound and the pricing reasonable By BOBBY JAYARAMAN The writer is a private investor and author of the local bestseller ‘Building wealth through Reits’. He can be reached at jbobby@frunzeinvestments. com REITS are all the rage
      1,900 words
    • 1392 30 Construction spending increased 37% in the year ended June 30 to US$3.83b, the most in some 5 years Bloomberg [LOS ANGELES] The South Boston waterfront was long a bleak area separated from the rest of the city by the Fort Point Channel, its docks
      Bloomberg; PHOTO: AP  -  1,392 words
    • 1069 31 Hedge funds are at their least bullish since 2007 as economies improve Bloomberg [LONDON] Gold’s worst start to a year in a quarter century and the biggest sales by investors on record are increasing concern that bullion’s longest rally since the end
      Bloomberg; PHOTO: REUTERS  -  1,069 words
    • 403 31 1st such vehicle will not be limited to Asian investments Bloomberg [SINGAPORE] Pacific Investment Management Co (Pimco), which runs the world’s biggest bond fund, is planning Asia’s first fund to protect against inflation in the region. The investment will aim to return
      Bloomberg  -  403 words