The Business Times, 23 March 2013

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Total Pages: 49
1 20 The Business Times

  • TOP STORIES
    • 718 2 Island faces financial ruin if it cannot strike bailout deal with EU by next week Reuters AFP Nicosia RUSSIA yesterday rebuffed a plea from Cyprus for aid leaving the island’s increasingly isolated leaders scrambling to strike a bailout deal with the European Union
      Reuters; AFP  -  718 words
    • MARKETS
      • 59 2 HSTI 3,258.57 (-9.08) HSTI FUTURES 3,259.00 (-7.00) HSIMSCI 369.24 (-1.19) HSIMSCI FUTURES 368.90 (-1.30) STOCKS Friday Change KL COMP 1,626.89 -3.86 NIKKEI 225 12,338.53 -297.16 HANG SENG 22,115.30 -110.58 SET 1,478.97 -50.55 JAKARTA 4,723.16 -79.51 MANILA 6,518.71 +45.73 KOSPI 1,948.71 -2.11 SHENZHEN B 802.79 -3.54 MUMBAI IND 18,735.60 -57.27
        59 words
      • 29 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.432 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.51 INDIA 14.45 Source: Bloomberg
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      • 48 2 US$ S$ US$ (S$ per US$) 1.251 (US$/S$ per 1.518 1.899 EURO(US$/S$/€ 1.290 1.614 Foreign currency per US$ S$ YEN 94.60 75.70 RM 3.111 2.487 HK$ 7.763 6.207 BAHT 29.32 23.44 RUPIAH 9,743 7,790 RENMINBI 6.213 4.968 INDIAN RUPEE 54.37 43.47 A$ 0.958 0.766 NZ$ 1.201 0.960
        48 words
    • 444 4  -  Low power demand in February, partly due to the long CNY break, a contributing factor By Ronnie Lim ronnie@sph.com.sg Singapore WHOLESALE electricity prices in Singapore extended their decline in the first quarter, latest data by market operator Energy Market Company (EMC) showed, continuing
      444 words
    • 909 5 Residential property prices could drop by up to 20% in next two years, helping city officials to rein in escalating housing values Bloomberg Hong Kong AFTER struggling in vain for three years to slow the growth in home prices, Hong Kong officials
      Bloomberg  -  909 words
    • 737 6  -  Earth Hour is not merely about switching off lights, it aims to channel people’s awareness of the environment into quantifiable change By Ma Xiangyu xiangyu@sph.com.sg Singapore FOR an hour tonight, stars will twinkle over darkness. More than a hundred buildings around Singapore will be turning
      737 words
    • 720 6  -  By Ma Xiangyu xiangyu@sph.com.sg Singapore IN THE past week, retailers have been running cascades of advertisements, promotions and tie-ins with this year’s Earth Hour. More discerning consumers may have begun to question how genuine these hotels, shops and restaurants are about their commitment to environmental sustainability.
      720 words
    • 536 7 Agreement soon on bank access terms, nod could come next week Bloomberg Hong Kong THE bid by DBS Group Holdings for PT Bank Danamon Indonesia is set to be approved as soon as this month as Singaporean and Indonesian regulators near an agreement
      Bloomberg  -  536 words
    • 853 8  -  Forbes Travel Guide hands out 5-star ratings its highest accolade to three players here By Malminderjit Singh msingh@sph.com.sg Singapore EVER wondered what gives a hotel its fivestar rating? Or how many 5-star hotels there are in Singapore? Wonder no more as the recently released Forbes Travel
      FILE PHOTOS  -  853 words
  • Page 2 Advertisements
    • 64 2 CONTENTS NEWS Top Stories 2-8 Week in Review 9 LIVING Dining L2-4 Style L5 Home Garden L6-7 Wellness L8-9 Raffles Conversation 10-11 Companies 12-15 From the Desk of 16 Singapore 17-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-35 Show Me The Money 33 Househunt 34 Real Estate 35
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  • Page 3 Advertisements
    • 602 3 FREEHOLD INTERNATIONAL PROPERTY AWARDS ASIA PACIFIC w% RICS RICS HSBC M Only From SGD 7,000 DOWN PAYMENT TO OWN THE "AWARD-WINNING" RESIDENCES icon residence* Mont’ Klara In Kuala Lumpur's Highly Sought-After International Location SUPER LIFESTYLE SUPER VALUE HOME SUPERB LOCATION Strategically located in Kuala Lumpur international district Ready conveniences: major
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  • Page 5 Advertisements
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  • Page 6 Advertisements
    • 24 6 Rerfect'AsIHomeTor EventiVenue Wi t .A JERRY LUM Snr Marketing Director, MBA, CBS CEA Licence no: R *****6 D HP: 8288 0098 View: jerrylum.myweb.sg kb
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  • Page 7 Advertisements
    • 533 7 Easb East Asia Institute of Management www.easb.edu.sg ENTREPRENEUR WORKSHOP IMMERSION MARCH @EA5B Speakers Professor Timothy M. Stearns is an acclaimed scholar and practitioner of entrepreneurship who is recognized for his innovative methods around the globe. An author and teacher, he has coached over 1000 entrepreneurial start-ups in the past two
      533 words


  • WEEK IN REVIEW
    • THIS WEEK March 18-22, 2013
    • 78 9 US DATA March 26 Consumer confidence for March March 26 New home sales for February March 28 Chicago Purchasing Managers Index for March March 29 University of Michigan Consumer Sentiment Index for March SINGAPORE DATA March 25 Consumer Price Index March 26 Index of Industrial Production
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  • Page 9 Miscellaneous
    • 315 9 Across 1 American detained by courts in European country (7) 5 It means fewer hands and less hair (4,3) 9 Succession of Emperors, perhaps with new clothes (5) 10 Items of luggage may be this severely tested (2,3,4) 11 Striking reminder of a Lowry figure? (10) 12 Refuse permission to
      315 words
    • 11 9 SATURDAY with Ludwig Oh, that’s Mr Tan’s unit. He’s a banker.’
      11 words

  • RAFFLES CONVERSATION
    • 2207 10 / 11  -  Brendan Howlin, the minister who controls Ireland’s government finances, talks about his country’s post-crisis comeback. By Vikram Khanna By Vikram Khanna vikram@sph.com.sg ON the eve of his departure to Indonesia, Singapore and the Philippines ten days ago, Brendan Howlin, Ireland’s Minister for Public Expenditure and Reform, had his
      PHOTO: THE LABOUR PARTY, IRELAND  -  2,207 words

  • COMPANY NEWS
    • 699 12  -  Stake sale to VA pending regulatory approval; a non-airline investor will not bring strategic synergies: group CEO By Nisha Ramchandani nishar@sph.com.sg Singapore BUDGET carrier Tiger Airways will have to take a hard look at whether to continue with its loss-making operations
      699 words
    • 494 12  -  By Lee Meixian leemx@sph.com.sg Singapore MAPLETREE Logistics Trust’s (MLT) planned divestment of its property at 30 Woodlands Loop to a new buyer has been granted in-principle approval by JTC Corporation, after a deal with another prospective buyer fell through last year. The new buyer,
      494 words
    • 584 13 New fixed-income offers surge 54% in 2012; bourse’s top-AAA rating, transparent rules help cut borrowing costs Bloomberg Singapore ASIAN companies are listing a record amount of bonds on Singapore Exchange (SGX) as the city-state’s top-AAA rating and transparent rules help cut borrowing costs
      Bloomberg  -  584 words
    • 229 13 PRESIDENT’S Challenge 2013, which was launched yesterday, saw strong support from Keppel Corporation. President Tony Tan Keng Yam, on behalf of President’s Challenge 2013 beneficiaries, received a $1.5 million cheque from Keppel Care Foundation at the Keppel Offshore Marine (Keppel O&M) yard. Keppel Corp also
      229 words
    • 390 14  -  It plans to construct its maiden plant to manufacture pellet forms of rice-husk biomass in the middle of the Mekong Delta By Carine Lee carinel@sph.com.sg Singapore INTEGRATED engineering solutions provider IEV Holdings Ltd has made its foray into the renewable energy business with a biomass
      FILE PHOTO  -  390 words
    • Business briefing
      • 93 14 OTTO Marine said its Indonesia-based shipyard, PT Batamec, has secured contracts worth $6.3 million to fabricate, assemble and deliver four pre-erected columns and pontoon blocks from a “renowned” Singapore-based customer. The fabrication and assembly of pre-erected columns amounts to a contract value of $2.7 million,
        93 words
      • 92 14 IN a writ of summons case update, KS Energy said yesterday that BR Energy (M) Sdn Bhd (BRE) has obtained judgment on liability in its favour with costs. The writ relates to a claim by BRE for alleged breach of a joint venture
        92 words
      • 53 14 SINOTEL Tech said it has recovered the last of the remaining 31.3 million yuan ($6.2 million) made to an unauthorised supplier for the purchase of 4G equipment. Last April, Sinotel revealed that three of its employees had cheated it of 105.4 million yuan
        53 words
    • 612 15  -  STOCKS R Sivanithy sivan@sph.com.sg Senior Correspondent THE obvious overhang this week was Cyprus, its banking problems and bungling politicians who, having had at least six months to carve out a rescue, opted for the worst and most unpopular method taking money
      612 words
    • 146 15 Reuters New York US-BASED stock funds recorded inflows of just US$1.9 billion in the latest week as worries over Cyprus’s debt burden disrupted demand for international stocks, data from Thomson Reuters’ Lipper service showed on Thursday. The drop in demand in the
      Reuters  -  146 words
    • 165 15 VOL CLOSE WE H l dgs 703,782 9 4 2 .5 36.2 SingHa i yi 383,817 3 9 0.1 2 .6 Magnus 31 8,301 5 1 1 WE Hldgs 1 27 .5 Metech I nt 31 5,807 2 .5 0.1 4 36.2 2 Ntegrator 296,990 12 .1
      165 words
    • 107 15 Stock name Close Change CapMallsAsia 2.090 -0.010 CapitaLand 3.510 +0.010 CapitaMall 2.100 -0.020 CityDev 11.02 +0.050 ComfortDelGro 1.920 +0.010 DBS Grp 15.54 -0.050 F&N 9.440 GLP 2.620 Genting SP 1.455 Golden Agri 0.580 -0.005 HK Land 7.100 +0.150 JMH 64.07 -0.430 JSH 39.81 +0.200 Jardine C&C 51.56 -0.440
      107 words
    • 395 15  -  By Teh Shi Ning tshining@sph.com.sg Singapore CHINA Fishery Group has warned the board of directors of Copeinca the Peruvian firm that it is eyeing in a takeover bid launched last month against blocking its voluntary cash offer by issuing new shares. Unless it receives
      395 words
    • 59 15 BY CENTS CLOSE UP Hyflux 6% CPS 10 ***** 100.0 0.9 GLD 10US$ ***** 75.0 0.4 DBXT S&P Short 10US$ 3209 42.5 1.1 Lyxor AsiaRE 10US$ 1048 36.3 2.8 JSH 3981 25.0 0.5 HK Land 710 18.8 2.2 Spore Land 909 14.0 1.6 CIMBAsean40 100US$ 1115 11.3 0.8
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    • 61 15 BY CENTS CLOSEDOWN IS S&P500 ***** -188.8 -1.0 DBXT MSTHAI 10US$ 2168 -102.5 -3.6 DBXT MSKorea 10US$ 5693 -56.3 -0.8 JMH 6407 -53.8 -0.7 DBXT S&P500 10US$ 2514 -45.0 -1.4 Jardine C&C 5156 -44.0 -0.8 DBXT FTVietnam 10US$ 2538 -36.3 -1.1 Lyxor Korea 10US$ 507 -17.5 -2.7 DBS
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  • Page 13 Advertisements
    • 134 13 THE BUSINESS TIMES SATURDAY SPECIAL Business titles at a bargain BT readers enjoy 40% off! Venue MPH Bookstores (S) Pte Ltd, #P3-08 Millenia Walk. Tel: *****845 Website: www.mph.com.sg Terms Conditions Promotion valid from 23rd March to 6th April 2013 Exclusive to MPH Parco Millenia Walk only While Stocks last Limit
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  • Page 14 Advertisements
    • 104 14 FOR THE FIRST TIME, ONE ISSUE WITH THREE COVERS a collector’s edition FEMALE APRIL ISSUE OUT NOW THE IH FA OF SEKY PRETTY THE FACES OF s/s PR I FEMALE x NARS Exclusive Limited sets of Soft Touch Shadow Pencil and Larger Than Life Lip Gloss (both tote-sized), plus an
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    • 58 14 Ethoz has a position open for a Business Manager Siemens is recruiting Production Technicians E M Services has a vacancy for the position of General Manager Human Resources Tractors Singapore is hiring a Customer Service Engineer Marine LF Asia is looking for a Key Account Manager Modern Trade Check out
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  • Page 15 Advertisements
    • 186 15 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF (1) BELIER INVESTMENT PTE. LTD. Co. Reg. No. *****1904C (2) PAPILLON INVESTMENT PTE. LTD. Co. Reg. No. *****1922Z (IN MEMBERS' VOLUNTARY LIQUIDATION) FINAL GENERAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 (1) of the
      186 words

  • FROM THE DESK OF
    • 1166 16  -  More consumers above the age of 50 are leading vibrant, economically active lives but marketing to this segment is still mired in outdated notions FROM THE DESK OF Kim Walker CEO, Silver Group MANY people ask me “Why would the former Asia-Pacif-ic CEO of an advertising
      1,166 words

  • SINGAPORE NEWS
    • 481 17  -  Overall employment rate among 9,668 fresh graduates surveyed was 91% By Ng Sai Ying nsaiying@sph.com.sg RESULTS of the first joint Graduate Employment Survey (GES) conducted by the National University of Singapore (NUS), Nanyang Technological University (NTU) and Singapore Management University (SMU)
      ST FILE PHOTO  -  481 words
    • 501 17  -  By Ronnie Lim ronnie@sph.com.sg BRITAIN’S Premier Oil, which supplies piped natural gas from Indonesia’s Natuna to power stations and industries here, is planning to boost its share of the Singapore gas market. “Our key asset in Indonesia remains the operated Natuna
      501 words
    • 306 17  -  By Teo Si Jia teosj@sph.com.sg THE Ministry for Trade and Industry (MTI) has made changes to the boards of Spring Singapore and the Competition Commission of Singapore (CCS) with four new appointments. The three new faces to Spring’s board are the director of
      306 words
    • 511 18  -  Fear is that oversupply of containerships will depress shipping rates and hurt shipping lines further in Asia-Europe By Benjamin Aw benaw@sph.com.sg MARITIME industry players have warned against excessive ordering of ships, fearing that an oversupply will depress shipping rates and hurt shipping lines. “There
      511 words
    • 365 18  -  By Ng Sai Ying nsaiying@sph.com.sg LUXURY fit for a king: That’s the statement the Singapore Yacht Show (SYS) will be making with the presentation of SuperYachtsMonaco’s 59.3metre custom motor yacht I Dynasty. The yacht features an ornate lift in a glass-atrium shaft, a full-beam
      365 words

  • Page 18 Advertisements
    • 65 18 T PROPERTY 4 k.' K^i r V1 |T 4200/3000 SF terr@Lor C °RNER ;ir«»sv-a; fa, park 9 “S Near Serene. K farming. T homson EN 2 V slv ED c SEM,-D f +1 r m, 3750/ 3c,0us $4.xM. bU/ 365 0 sqft. "sraCIDd3 LIVING Check this and many other properties
      65 words

  • WORLD
    • 750 19 Both countries launch patent acquisition companies to help domestic technology firms and also make some money in the process Reuters Seoul PATENT competition in the United States is usually a fierce arena for private companies, but now the South Korean and French governments are
      Reuters  -  750 words
    • 195 19 Reuters Seoul SOUTH Korea’s government needs to finalise a plan to revitalise the economy by the end of this month, said its new finance minister yesterday, bolstering expectations that a major stimulus package would be announced in the coming weeks. “We must
      Reuters  -  195 words
    • 423 19 Reuters Sydney APPLE Inc has blamed “old-fash-ioned” record companies, film studios and TV networks for the inflated prices Australians pay compared with US consumers for digital downloads, defending its pricing strategy yesterday. Adobe, Microsoft and Apple executives were grilled
      Reuters  -  423 words
    • 602 20 Beijing should let yuan trade more freely, he says; OECD sees inflation, export demand as biggest near-term risks ever”, he noted. Bloomberg, Reuters Hong Kong INTERNATIONAL Monetary Fund (IMF) officials are confident that China’s economy is on a path of 8 per cent
      ever”, he noted. Bloomberg, Reuters; rebound.PHOTO: REUTERS  -  602 words
    • 411 20 Kuala Lumpur THE supply of office space in Malaysia’s Klang Valley has surpassed 100 million sq ft, making it the largest stock among the neighbouring South-east Asian metropolitan centres, according to property consultants at Jones Lang Wootton (JLW). Senior vice-president and head
      411 words
    • 696 21 Parliament committee votes that bonuses should not exceed base salaries for managers of UCITS Bloomberg London THE European Parliament’s vote to cap bonuses in the asset management industry could affect two-thirds of senior fund managers in the UK, US funds in Europe and
      Bloomberg  -  696 words
    • 483 21 AFP Bordeaux, France FORMER French president Nicolas Sarkozy has been charged with taking financial advantage of France’s richest woman, as part of a probe into illegal party funding that could shatter his hopes of a political comeback. His lawyers said they would appeal against
      AFP; PHOTO: REUTERS  -  483 words
    • 587 22 A key contract expected to be signed during the Chinese leader’s visit will see Russia ramp up oil supplies to China AFP Moscow CHINA’S new leader Xi Jinping, on his first foreign trip as president, held talks with Russian host Vladimir Putin yesterday
      AFP; PHOTO: AP  -  587 words
    • Briefing
      • 80 22 Reuters LondonTwo of the City of London’s oldest names could merge after fund manager Schroders said it was in talks to buy smaller rival Cazenove Capital. Schroders said in a statement yesterday it was considering a cash offer for Cazenove, which manages
        Reuters  -  80 words
      • 119 22 AP New Delhi Indian police said yesterday that they foiled a terror attack by a Kashmiri rebel group that was planning to target India’s capital during celebrations of a major Hindu festival next week. The arrest this week of a suspected agent from
        AP  -  119 words
      • 100 22 Reuters Shanghai Swedish auto maker Volvo Car Corp, wholly owned by Zhejiang Geely Holding Group Co since 2010, has uncovered widespread cheating by its car dealers in China, where retailers inflated sales to win cash rebates from the company for hitting volume
        Reuters  -  100 words
      • 62 22 AFP Lagos Nigerian novelist Chinua Achebe, who has been called the father of modern African literature, has died aged 82, his publisher said yesterday. Achebe was best known internationally for his 1958 novel Things Fall Apart, which told of the collision between British
        AFP  -  62 words

  • Page 20 Advertisements
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  • Page 22 Advertisements
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  • 8051 23 Transaction date: Mar 22 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 15 11.4 8Telecom 13.5 13 14 10.6 0.8 11.2 64.7 5.8 3 A-Sonic 4.1 3.7 4.1 3.2 29.4 AAT 2 halt 1.6
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  • 1846 26 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21.5 15 t 800 Super 19 -0.9 3 19 19 19 19.8 3.3 5.3 5.7 34 4.3 2.8 t AA Grp 3.9 3.2 3.9 195
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  • 186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 10 6 1 0 0 0 10 6 1 Manufacturing 66 41 36 18 3 6 84 44 42 Commerce 22 23 18 7 3 3 29 26 21 Tpt/Stor/Comms 21 13 7
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  • 778 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Mar 18 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) KS Energy 21-Mar-13 Kris Taenae W *Buy 114 0.69 *****7 56.61 *****1 56.64 KS Energy 21-Mar-13 Pacific
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  • 123 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 101,716 101,716 79,707 79,707 Manufacturing 1,061,663 820,080 1,881,743 187,688 23,203 210,891 Commerce 262,181 917,304 1,179,485 86,688 80,034 166,722 Tpt/Stor/Comms 88,993 14,283 103,276 150,927 5,413 156,340 Finance 57,900 89 57,989 183,917 22 183,940 Construction 116,881 258,709
    123 words

  • MARKETS
    • 80 27 Mar 21 COCOA (£/tonne) Close Prev High/Low May 13 1455 1446 1462/1442 Jul 13 1468 1459 1475/1454 Sep 13 1477 1469 1484/1465 Dec 13 1482 1476 1490/1472 COFFEE(US$/tonne) Close Prev High/Low Mar 13 2112 2105 2143/2143 May 13 2153 2152 2181/2142 Jul 13 2155 2152 2175/2143 Sep 13 2157
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    • 67 27 Mar 22 GOLD(US$/oz) Mar 22 Mar 21 Hong Kong 1619.80 1614.40 Mar 21 Mar 20 London 1613.61 1606.40 1614.38 1607.20 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 36.79 36.14 Source: UOB PLATINUM Lon (US$/oz) Mar 21 Close Previous PM Fix 1583.00 1566.00 AM Fix 1582.00 1560.00 Source:
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    • 57 27 Mar 22 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Apr 13 2452.0 2460.0 2470.0 2430.0 414 3109 May 13 2455.0 2485.0 2493.0 2447.0 4981 ***** Jun 13 2466.0 2493.0 2503.0 2457.0 ***** ***** Jul 13 2465.0 2495.0
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    • 82 27 Mar 22 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****S 20-Jun-13 0.25 6-Month BS*****T 19-Sep-13 0.26 1-Year BY*****X 01-Nov-13 0.27 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-13 100.1 100.13 100.12 5-Year N*****0Z 2.375
      82 words
    • 155 27 Mar 22 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3046 1.3051 1.0432 1.0435 Canadian dollar 1.2183 1.2189 0.9746 0.9742 Euro 1.6134 1.6138 1.2901 1.2903 NZ dollar 1.0411 1.0416 0.8325 0.8328 Sterling pound 1.8987 1.8993 1.5182 1.5186
      155 words
    • 118 27 Mar 22 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.334 1.271 Can dollar 1.249 1.190 Euro 1.651 1.573 Sterling pound 1.933 1.859 NZ dollar 1.073 1.013 US dollar 1.275 1.215 Local dollars to 100 units of foreign currency: Currencies Sell
      118 words
    • 104 27 Mar 21 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low May 13 1449.00 1419.75 1451.50 1419.50 Jul 13 1425.50 1399.25 1427.25 1399.25 Aug 13 1381.25 1359.00 1382.50 1360.00 Sep 13 1312.50 1294.75 1313.75 1297.25 SOYBEAN OIL(60,000 lbs; USc/lb) Close Previous High/Low May 13 50.42 49.84 50.46
      104 words
    • Article, Illustration
      2 27
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    • 68 27 Mar 21 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 107.79 -0.12 WTI (Near Mth) 92.05 -1.08 Dubai (1-Mth F) 104.89 0.23 Tapis blend 114.34 0.20 Minas 108.84 0.20 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 101.17 1.11 Jet Kerosene 121.17 0.13 US$/barrel OpecOil Basket Price 105.69
      68 words
    • 69 27 Mar 21 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1893.25 1900.75 3 months 1928.00 1939.00 Copper, Grade A (US$/tonne) Cash 7548.25 7584.50 3 months 7582.50 7620.00 Lead (US$/tonne) Cash 2147.00 2161.50 3 months 2172.50 2188.00 Nickel (US$/tonne) Cash *****.50 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
      69 words
    • 373 27 In local curr In S$ In US$ dy yr dy yr dy yr Mar 21 Index Change Change Change Change Change Change World Preliminary 1022.4 -0.3 9.0 -0.5 9.3 -0.3 6.9 EAFE Preliminary 849.8 -0.3 9.7 -0.4 7.5 -0.2 5.1 Europe Preliminary 1226.0 -0.9 6.9
      373 words

  • PERSPECTIVE
    • 963 28 / 29  -  If we think that a wine is expensive, we perceive its quality as being superior, all other things being equal By Orley Ashenfelter, Olivier Gergaud, Victor Ginsburgh, Karl Storchmann ~Orley Ashenfelter is Joseph Douglas Green 1895 Professor of Economics at Princeton University Olivier Gergaud
      PHOTO: BLOOMBERG  -  963 words
    • 833 28 / 29  -  By Neeta Lal ~The author is a New Delhi-based journalist WHARTON Business School’s decision to strike off Gujarat Chief Minister Narendra Modi’s name from its list of speakers at the annual Wharton-India Economic Forum (WIEF) starting today in Philadelphia, has raised pernickety
      PHOTO: AP  -  833 words

  • Wealth
    • WEALTH INVESTING
      • 1136 30 / 31  -  Investors should go for spread products, and in this space, emerging market bonds proffer the most attractive returns, says Ashmore’s co-head of research Genevieve Cua gen@sph.com.sg Personal Finance Editor Strategists and advisers fret about a bond bubble, but Jan Dehn of Ashmore Investment Management maintains that
        1,136 words
      • BROKERS' TAKE
        • 295 30 / 31 Buy DMG Partners March 22 Close: $0.675 WE recently hosted Food Empire for a roadshow in Singapore. Among the key takeaways are: 1) Management has turned more bullish in terms of topline growth, 2) Backward integration plans are on track and should come onstream in the third
          295 words
        • 456 30 / 31  -  Compiled by Kenneth Lim Outperform CIMB Research March 22 Close: US$0.455 FY12 core EPS (earnings per share) is 9 per cent ahead of our expectation because of lower interest expense at Resorts World Manila (RWM). Underlying operations at its integrated resort were in line, though we had
          456 words
      • 1407 32 They are enticing investors after corporate-bond yields drop to less than half the 20-year average Bloomberg New York Derivatives that pool cred-it-default swaps to make magnified bets on corporate debt, popularised in the last credit bubble, are making a comeback as investors search farther afield
        Bloomberg; PHOTO: AFP  -  1,407 words
      • 1058 33  -  Lower GDP growth does not directly affect stock returns or corporate profitability in a big way, says GMO SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior Correspondent ~The writer is a CFA charterholder THE world is entering a slow-growth phase, economists tell us.
        Source: Singapore Department of Statistics, Thomson Datastream, Bloomberg  -  1,058 words
    • WEALTH REAL ESTATE
      • 521 34 The plan relates to a 20-acre site called Wood Wharf and aims to tap demand from ‘creative industries’ Reuters London LONDON’S Canary Wharf district is turning to smaller office blocks, apartments, and streetlevel shops for its next phase of development as the financial crisis brings
        Reuters  -  521 words
      • 562 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN FEB 20 AND FEB 26,2013 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 2 NON-LANDED Altez Apt 25/02/2013 99 861 1993 2314 District 4 NON-LANDED The Interlace Apt 22/02/2013 99
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      • 695 35 Drop works out to an average of 1 .8% as at Jan 1 compared with 2.6% a year earlier Bloomberg Tokyo JAPAN’S land prices dropped at a slower pace for the third year as low interest rates and buying by real estate
        Bloomberg; PHOTO: BLOOMBERG  -  695 words
      • 605 35 Reuters New York THE head of Pimco’s mortgage credit portfolio management team said the firm is targeting direct commercial real estate investments and non-securitised loans, which carry greater risk but higher return potential. Dan Ivascyn, who is also a managing director at
        Reuters  -  605 words





  • Page 36 Advertisements
    • 123 36 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. AN EVOLUTION OF THE RULE BREAKING AUDEMARS PIQUET ROYAL OAK LUXURY SPORTS WATCH, THE ROYAL OAK OFFSHORE POSESSES A DRAMATIC AND PURPOSEFUL AESTHETIC THAT TURNS FUNCTIONAL ELEMENTS INTO ICONIC DESIGN FEATURES. AT 44 MILLIMETRES DIAMETER, THE OFFSHORE COMMANDS A UNIQUE PRESENCE,
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    • 76 1 STYLE Tod's high kicks L5 LivingBTTHE BUSINESS TIMES WEEKEND MARCH 23-24 2013 CLICKING WITH GOURMET FOOD Foodies can now sit back and let their fingertips do the work as more online high dining options emerge. L2-4 WELLNESS New spas notch up luxury L8-9 PHOTO: KOREA FOOD COMPANY CEOS’ HAWKER CHOICES
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  • BT Living
    • DINING
      • 1044 2 / 3  -  The labour crunch and escalating rents have recently led three high-profile players to trade in their restaurants and delis for an online business. Debbie Yong looks at the changing model of gourmet retail, and rounds up the latest speciality gourmet stores and food delivery services on the
        1,044 words
      • 469 2 / 3 The Fishwives www.thefishwives.com GIVEN the good-humoured rivalry between the two countries, you know that there must be something undeniably good about New Zealand produce if even an Australian decides to run a specialist gourmet store dedicated to it. “I actually didn’t intend to just focus
        469 words
      • 436 2 / 3 Le Bon Marche www.lebonmarche.sg YOU might know them better for their dine-in Bukit Timah Road bistro-deli of the same name, but Le Bon Marche has now gone completely online. The bistro shut its doors last August as it faced a 15 per cent rent increase after
        PHOTOS: LE BON MARCHE  -  436 words
      • 455 2 / 3 Gourmet Shop by Julien Bompard Z9838 4397 www.gourmetshop.com.sg THIS e-commerce store run by French chef Julien Bompard and his wife Edith Lai was started as a casual business way back in 2008 but the couple only recently started focusing on it in the last six months,
        455 words
      • 451 2 / 3 Kagoshima Wagyu www.kagoshima-wagyu.sg Z8200 1534 6338 9576 (hotline from 8am-3pm Mon-Fri) THERE’S a new option available the next time you want to add a luxe touch to your steamboat or barbecue gathering at home. Month-old Kagoshima Wagyu (and sister Kagoshima Kurobuta) is an online
        PHOTO: KAGOSHIMA WAGYU  -  451 words
      • 447 4 The Korea Food Company www.koreafoodcompany.com WHEN it comes to Korean food, there’s nothing that quite beats the wholesome, home-cooked fare whipped up by a well-meaning ahjumma. And if you don’t happen to be friends with one, well, fret not, for the humble good cooking of another
        PHOTOS: OF SARAH AND STEPHEN PARK, RIGHT: JOSEPH NAIR; FOOD PHOTO BY KOREA FOOD COMPANY  -  447 words
      • 392 4 Big Sheila www.thebigsheila.com Z6645 4422 HER motto is to serve “My food at my table or your table.” In keeping with that, you can either rock up for a solid meal at Fleur Glover’s four-month-old restaurant The Big Sheila in Katong, or have the exact
        FILE PHOTOS  -  392 words
      • 528 4 Gourmet Tingkat by Preparazzi preparazzi.sg Z6220 0629 ARE you often too frazzled from a 9-hour workday to even think about prepping for a home-cooked dinner after work, but yet too health (and budget-) conscious to eat out daily? Then Preparazzi’s new daily tingkat service may be
        528 words
    • STYLE
      • 1145 5  -  Tod’s chairman Diego Della Valle may be the epitome of a billionaire mogul, but he manages to keep his uber-vogue Gommino-shod feet firmly planted on terra firma. By May Yip By May Yip btnews@sph.com.sg AT the recent Milan Fashion Week, it was finally announced that Alessandra Facchinetti
        PHOTOS: TOD’S  -  1,145 words
    • HOME & GARDEN
      • Article, Illustration
        1041 6 / 7  -  The Singapore apartment of jetsetting businessman Yoh-Chie Lu is a cosy getaway. By Tay Suan Chiang personal space By Tay Suan Chiang taysc@sph.com.sg LIKE most business travellers, Yoh-Chie Lu would stay in a hotel whenever he came to Singapore for work. Unlike other travellers, he did that for
        ALL PHOTOS: JOSEPH NAIR  -  1,041 words
    • WELLNESS
      • 2278 8 / 9  -  The spa culture in Singapore is hotting up with the proliferation of new options offered by hotels in and around town. BT Weekend de-stresses at some of the latest ones By Jaime Ee jaime@sph.com.sg By Corinne Kerk btnews@sph.com.sg By Tay Suan Chiang taysc@sph.com.sg By
        PHOTOS: CHI SPA, SHANGRI-LA HOTEL; PHOTOS: ESPA; PHOTOS: YEN MENG JIIN; PHOTO: W SINGAPORE  -  2,278 words
    • CEOS' HAWKER CHOICES 2013
      • 2586 10 / 11  -  Zhi char stalls in Singapore bring affordable Chinese cuisine and banquet-style dining to the masses in heartland coffee shops. Some have become so successful over the years that they eventually spawned air-conditioned restaurants. Here are the top five zhi char places as voted by panellists of BT/Knight Frank
        PHOTOS: YEN MENG JIIN; PHOTOS: GEYLANG CLAYPOT RICE; PHOTOS: YEN MENG JIIN; PHOTOS: DEBBIE YONG; PHOTOS: SARA YAP  -  2,586 words
      • 575 12  -  By Tay Suang Chiang taysc@sph.com.sg Raymond Khoo CEO, Solutions 17 BUSINESSMAN Raymond Khoo is Teochew but he prefers Cantonese cuisine. “Teochew food is quite bland whereas Cantonese food is more full flavoured which I like,” says Mr Khoo. The founder and chief executive of Solutions
        PHOTO: YEN MENG JIIN  -  575 words
    • GADGETS
      • Article, Illustration
        442 13  -  All-in-one (AIO) PCs remain a great option for power and value without hogging too much desk space, writes Christopher Lim limchris@sph.com.sg Apple iMac Starts at $1,788 for 21.5-inch; starts at $2,488 for 27-inch THE original Bondi Blue iMac single-handedly kick-started the AIO craze back in 1998. And
        442 words
    • SHOPPING
      • 482 14  -  Philippe Charriol explains why he is always seeking new avenues of growth. By Tan Teck Heng btnews@sph.com.sg SOME work their way up to greatness, others start their own empires. Marseille-born Philippe Charriol has done both. In 1983, the former president of Cartier left the brand’s vaulted
        482 words
    • HEALTH
      • 899 15  -  It is one of the erectile dysfunction drugs that are used to treat right-heart hypertension. By Michael Lim ~Dr Lim is medical director at the Singapore Heart, Stroke Cancer Centre. He is also editor-in-chief, Heart Asia (a journal of the British Medical Journal Publishing
        PHOTO-ILLUSTRATION: HYRIE RAHMAT  -  899 words
    • SPORTS
      • 569 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Correspondent IF you thought Chelsea owner Roman Abramovich was merciless in wielding the axe on his managers he has dismissed nine in his 10-year reign so far the Russian’s ruthlessness pales in comparison to the managerial crisis now engulfing Blackburn Rovers.
        PHOTO: AP  -  569 words
      • 703 16  -  slam dunk with lee u-wen IT’S perhaps appropriate that the hottest team in the National Basketball Association (NBA) right now is nicknamed the Heat. The Miami Heat, to be precise, is sizzling past every single team in its path its comeback win over
        703 words
    • GOLF
      • 1119 17  -  Fresh crop of young players who are making waves on the international circuit augurs well for the game back home. By Justine Moss By Justine Moss btnews@sph.com.sg THAI male golf players such as Boonchu Ruangkit, Thongchai Jaidee, Prayad Marksaeng and Thaworn Wiratchant (2012 Asian
        PHOTOS: MISSION HILLS HAIKOU  -  1,119 words
    • MOTORING
      • Article, Illustration
        527 18  -  The new rubber compound for the Pirelli tyres has helped to mix things up in Formula One. By Samuel Ee f1 watch By Samuel Ee samuelee@sph.com.sg Rubber rubber, turning black, Leaves me limping on the track OR so Sebastian Vettel may have thought to himself as the degrading
        PHOTO: AP; PHOTO: AFP  -  527 words
      • Article, Illustration
        733 19  -  The new Toyota RAV4 is going upmarket with new features and equipment. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THE people who introduced the first “softroader” have raised the bar again. When the first Toyota RAV4 appeared on the market nearly 20 years ago, it introduced a
        733 words
      • Article, Illustration
        540 20  -  BMW 118i M Sport stands out for having three doors and an auspicious model designation. By Samuel Ee samuelee@sph.com.sg YOU don’t have to be Cantonese to appreciate that the BMW 118i M Sport has a highly auspicious model designation. But while the 118i nameplate isn’t new to the
        540 words





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    • 79 10 / 11 WE UNDERSTAND THE VALUE OF GREAT PARTNERSHIP Knight Frank We are passionate about property and deliver only the highest standards of quality and integrity. We work continuously to meet our clients' real estate needs, which is why we are the largest privately owned global real estate agency. Call us today
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    • 35 13 HOME NEE S Drowning in a sea of dirty laundry? Get someone to help you. To find out more, turn to CLASS 121 in CATS Classified in The Straits Times now. BUY IT-SELL IT-FIND IT
      35 words

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    • 835 14 wine&dine with BTWeekend AquaMarine Level 4, Marina Mandarin Singapore 6 Raffles Boulevard Z6845 1111 Flavours of Siam Till March 31,2013 Savour your favourite Thai dishes at AquaMarine as we bring Guest Chef Aek Charttrakul and his team from Bangkok’s Suan Dusit International Culinary School, only for the month of March.
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