The Business Times, 23 March 2013
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2013-03-23
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The Business Times
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Title Section14 2013-03-23 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g MARCH 23-24, 2013 S$1.00 MICA (P) 075/08/201214 words
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Article27 2013-03-23 1 CYPRUS RUSSIA rebuffed a plea from Cyprus for aid leaving it scrambling to strike a bailout deal with EU by next week.|227 words
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Article15 2013-03-23 1 POWER WHOLESALE electricity prices here extended their decline in Q1.|415 words
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Article29 2013-03-23 1 PROPERTY HONG Kong home prices may fall 20% in two years, says Deutsche Bank, after lenders raise loan rates by 25 bps. |529 words
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Article28 2013-03-23 1 EARTH HOUR EARTH Hour is not about turning off the lights. It is to provide a point for environmental chatter to coalesce. |628 words
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Article24 2013-03-23 1 MAKING DEALS CHINA’S Xi Jinping held talks with Russian host Vladimir Putin which focused on energy and investment.|2224 words
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Article, Illustration762 2013-03-23 1 Michelle Quah - Many deals in the pipeline expected to come to market later this year, though deal sizes may remain small, says Ernst Young By Michelle Quah michquah@sph.com.sg Singapore Global ipo (initial public offering) activity saw a 42 per cent drop in deal volumeSource: Ernst&Young - 762 words
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Article, Illustration1232 2013-03-23 1 Grace Ng - Unlike the visual effects studios in the US, the players in Singapore aren’t feeling the heat... for now By Grace Ng ngrace@sph.com.sg Singapore AGAINST a backdrop of bankruptcies and protests in America’s visual effects sector, Nanyang Polytechnic’s FUSION 2013 was almost a picture of1,232 words
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Page 1 Advertisements
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Advertisement24 2013-03-23 1 www. usinesstimes.com. MOTORING BMW 118i M Sport L20 CEOS’ HAWKER CHOICES Top zhi char places L10-12 RAFFLES CONVERSATION Irish reform minister Brendan Howlin 10-1124 words
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Advertisement14 2013-03-23 1 WEALTH Emerging market bonds proffer attractive returns 30-31 LIVING Clicking with gourmet food L2-414 words
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TOP STORIES
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Article, Illustration718 2013-03-23 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 UnionReuters; AFP - 718 words
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MARKETS
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Article59 2013-03-23 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 -57.2759 words
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Article29 2013-03-23 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: Bloomberg29 words
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Article48 2013-03-23 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 0.96048 words
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444 2013-03-23 4 Ronnie Lim - 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, continuing444 words
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909 2013-03-23 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 officialsBloomberg - 909 words
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Article, Illustration737 2013-03-23 6 Ma Xiangyu - 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 turning737 words
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Article720 2013-03-23 6 Ma Xiangyu - 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
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Article, Illustration536 2013-03-23 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 agreementBloomberg - 536 words
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Article, Illustration853 2013-03-23 8 Malminderjit Singh - 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 TravelFILE PHOTOS - 853 words
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Page 2 Advertisements
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Advertisement64 2013-03-23 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 3564 words
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Page 3 Advertisements
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Advertisement602 2013-03-23 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: major602 words
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Page 5 Advertisements
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Advertisement61 2013-03-23 5 Samsung recommends Windows 8. Enhanced Productivity On-The-Go Now get ready for a faster Smart PC Pro experience with 256GB SSD! Samsung ATIVsmart PC^ HSPA+ Enabled Enjoy a smarter PC experience with an array of intuitive features and applications on Samsung’s range of Windows 8 devices. k S Pen JU? EES61 words
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Page 6 Advertisements
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Advertisement24 2013-03-23 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 kb24 words
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Page 7 Advertisements
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Advertisement533 2013-03-23 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 two533 words
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WEEK IN REVIEW
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THIS WEEK March 18-22, 2013
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56 2013-03-23 9 AS they put the global financial crisis behind them, high net worth individuals are turning positive on equities and buying them again. But they are not really participating in the “great rotation” Wall Street’s hypothesis of a once-in-a-genera-tion bond sell-off56 words
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45 2013-03-23 9 SINGAPORE merger and acquisition activity had its slowest start in four years as announced deal volumes fell 13.5 per cent year on year in the first quarter of 2013, according to preliminary data compiled by Thomson Reuters.45 words
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39 2013-03-23 9 BOTH of China’s new leaders, President Xi Jinping and Premier Li Keqiang, called for wide-ranging reforms, pledging to keep the country’s finances in order and promising a more efficient and responsive government.39 words
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31 2013-03-23 9 INDIA’S top three private sector banks ICICI Bank, HDFC Bank and Axis Bank have been accused by online portal Cobrapost.com of laundering black money.31 words
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47 2013-03-23 9 THE head of Indonesia Investment Coordinating Board has said that, regardless of the result of next year’s presidential election, any new administration is likely to wa- ter down protectionist policies in favour of inflows of overseas capital that will create jobs.47 words
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39 2013-03-23 9 SINGAPORE’S exports plunged far more than expected in February from a year earlier, dragged down by a sharp drop in pharmaceuticals and oil rigs as well as continued weakness in electronics.39 words
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47 2013-03-23 9 THE Asian Development Bank has sounded a strong warning about the danger of “asset bubbles” developing in the region’s local-cur-rency bond markets as foreign capital pours in, searching for higher yields than investors can obtain in advanced economy markets.47 words
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27 2013-03-23 9 DESPITE the doom-and-gloom headlines, the commodities sector seems set to provide investors the benefit of diversification, industry observers say.27 words
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41 2013-03-23 9 NEW US home construction rose in February and building permits climbed to the highest level in almost five years, adding to signs of progress in the housing market that’s helping boost the economy.41 words
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54 2013-03-23 9 ECONOMISTS have turned a little more optimistic about Singapore’s growth performance for 2013, despite tuning their first-quarter fore- casts a notch lower because of poor production and export figures thus far this year. But uncertainty from the eurozone will continue to cloud54 words
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Article, Illustration28 2013-03-23 9 Cypriots protesting outside the Parliament. The European Central Bank has set Cyprus a Monday deadline to agree on a bailout plan. PHOTO: AFP PHOTO: AFPPHOTO: AFP - 28 words
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45 2013-03-23 9 BUSINESS confidence has picked up in the first quarter of this year for top companies in Asia, although firms continue to view the uncertain global economy as the biggest risk to business outlook, a study said.45 words
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35 2013-03-23 9 CHINA’s flash Purchasing Managers’ Index released by HSBC on Thursday rebounded in March, dispelling fears that recovery in the world’s second largest economy was running out of steam.35 words
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85 2013-03-23 9 THE European Central Bank has set Cyprus a Monday deadline to agree on a bailout plan, threatening to cut off funding to the island’s cash-strapped banks if a programme is not agreed by then with the European Union and the International Monetary Fund.85 words
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32 2013-03-23 9 THE US Congress gave final approval to legislation to avert a partial government shutdown, in a rare example of bipartisan cooperation on federal spending.32 words
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Article78 2013-03-23 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 Production78 words
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Page 9 Miscellaneous
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Miscellaneous315 2013-03-23 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 to315 words
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Miscellaneous11 2013-03-23 9 SATURDAY with Ludwig Oh, that’s Mr Tan’s unit. He’s a banker.’11 words
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RAFFLES CONVERSATION
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Article, Illustration2207 2013-03-23 10 / 11 Vikram Khanna - 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 hisPHOTO: THE LABOUR PARTY, IRELAND - 2,207 words
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COMPANY NEWS
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Article, Illustration699 2013-03-23 12 Nisha Ramchandani - 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 operations699 words
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494 2013-03-23 12 Lee Meixian - 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
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584 2013-03-23 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 costsBloomberg - 584 words
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Article, Illustration229 2013-03-23 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 also229 words
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Article, Illustration390 2013-03-23 14 Carine Lee - 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 biomassFILE PHOTO - 390 words
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Business briefing
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Article93 2013-03-23 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
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92 2013-03-23 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 venture92 words
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53 2013-03-23 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 yuan53 words
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Article, Illustration612 2013-03-23 15 R Sivanithy - 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 money612 words
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146 2013-03-23 15 Reuters New York US-BASED stock funds recorded inflows of just US$1.9 billion in the latest week as worries over Cyprus’s debt burden disrupted demand for international stocks, data from Thomson Reuters’ Lipper service showed on Thursday. The drop in demand in theReuters - 146 words
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Article165 2013-03-23 15 VOL CLOSE WE H l dgs 703,782 9 4 2 .5 36.2 SingHa i yi 383,817 3 9 0.1 2 .6 Magnus 31 8,301 5 1 1 WE Hldgs 1 27 .5 Metech I nt 31 5,807 2 .5 0.1 4 36.2 2 Ntegrator 296,990 12 .1165 words
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Article107 2013-03-23 15 Stock name Close Change CapMallsAsia 2.090 -0.010 CapitaLand 3.510 +0.010 CapitaMall 2.100 -0.020 CityDev 11.02 +0.050 ComfortDelGro 1.920 +0.010 DBS Grp 15.54 -0.050 F&N 9.440 GLP 2.620 Genting SP 1.455 Golden Agri 0.580 -0.005 HK Land 7.100 +0.150 JMH 64.07 -0.430 JSH 39.81 +0.200 Jardine C&C 51.56 -0.440107 words
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395 2013-03-23 15 Teh Shi Ning - By Teh Shi Ning tshining@sph.com.sg Singapore CHINA Fishery Group has warned the board of directors of Copeinca the Peruvian firm that it is eyeing in a takeover bid launched last month against blocking its voluntary cash offer by issuing new shares. Unless it receives395 words
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Article59 2013-03-23 15 BY CENTS CLOSE UP Hyflux 6% CPS 10 ***** 100.0 0.9 GLD 10US$ ***** 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 0.859 words
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Article61 2013-03-23 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 DBS61 words
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Page 12 Advertisements
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Advertisement31 2013-03-23 12 >/v/»7 JACKPOT Estimated Draw on Mon, 25 Mar 2013 at 6.30pm For details, visit www.singaporepools.com.sg Ip layA Always play with care. responsibly) Do not bet illegally. RGB Reg No: *****0202G FJ31 words
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Page 13 Advertisements
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Advertisement134 2013-03-23 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 Limit134 words
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Page 14 Advertisements
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Advertisement104 2013-03-23 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 an104 words
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Advertisement58 2013-03-23 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 out58 words
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Page 15 Advertisements
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Advertisement186 2013-03-23 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 the186 words
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FROM THE DESK OF
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Article, Illustration1166 2013-03-23 16 Kim Walker - 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 advertising1,166 words
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SINGAPORE NEWS
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Article, Illustration481 2013-03-23 17 Ng Sai Ying - 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
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501 2013-03-23 17 Ronnie Lim - 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 Natuna501 words
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306 2013-03-23 17 Teo Si Jia - 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 of306 words
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511 2013-03-23 18 Benjamin Aw - 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. “There511 words
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Article, Illustration365 2013-03-23 18 Ng Sai Ying - 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-beam365 words
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Page 18 Advertisements
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Advertisement65 2013-03-23 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 properties65 words
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WORLD
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750 2013-03-23 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 areReuters - 750 words
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195 2013-03-23 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 mustReuters - 195 words
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Article, Illustration423 2013-03-23 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 grilledReuters - 423 words
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Article, Illustration602 2013-03-23 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 centever”, he noted. Bloomberg, Reuters; rebound.PHOTO: REUTERS - 602 words
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411 2013-03-23 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 head411 words
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696 2013-03-23 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 andBloomberg - 696 words
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Article, Illustration483 2013-03-23 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 againstAFP; PHOTO: REUTERS - 483 words
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Article, Illustration587 2013-03-23 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 yesterdayAFP; PHOTO: AP - 587 words
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Briefing
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80 2013-03-23 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 managesReuters - 80 words
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119 2013-03-23 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 fromAP - 119 words
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100 2013-03-23 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 volumeReuters - 100 words
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62 2013-03-23 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 BritishAFP - 62 words
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Advertisement56 2013-03-23 20 ENJOY 40% DISCOUNT THIS MARCH THE LATEST CAMERA TECH FROM JAPAN Do SI Real im TABLETS TESTED FULL-FRAME COMPACT Backup Your Ebooks installing Office 365 Make Use of Google Drive Choice Inside 40% OFF Offer valid till ,31/3/2013. Enjoy this special discount when you subscribe to the print edition of56 words
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Page 22 Advertisements
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Advertisement35 2013-03-23 22 klS592 All the great songs in one place CMck, s Catch the Nissan-Kiss92 Kiss Mobile for car decals and great prizes! Tune in to Kiss92 for more details! 27 MARCH (WEDNESDAY), 6:00PM kiss92.sg Bfacebook.com/kiss92fm @kiss92fm35 words
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Article8051 2013-03-23 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 1.68,051 words
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Article1846 2013-03-23 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 $mil 21.5 15 t 800 Super 19 -0.9 3 19 19 19 19.8 3.3 5.3 5.7 34 4.3 2.8 t AA Grp 3.9 3.2 3.9 1951,846 words
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Article186 2013-03-23 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 10 6 1 0 0 0 10 6 1 Manufacturing 66 41 36 18 3 6 84 44 42 Commerce 22 23 18 7 3 3 29 26 21 Tpt/Stor/Comms 21 13 7186 words
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Article778 2013-03-23 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Mar 18 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) KS Energy 21-Mar-13 Kris Taenae W *Buy 114 0.69 *****7 56.61 *****1 56.64 KS Energy 21-Mar-13 Pacific778 words
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Article123 2013-03-23 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 101,716 101,716 79,707 79,707 Manufacturing 1,061,663 820,080 1,881,743 187,688 23,203 210,891 Commerce 262,181 917,304 1,179,485 86,688 80,034 166,722 Tpt/Stor/Comms 88,993 14,283 103,276 150,927 5,413 156,340 Finance 57,900 89 57,989 183,917 22 183,940 Construction 116,881 258,709123 words
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MARKETS
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Article80 2013-03-23 27 Mar 21 COCOA (£/tonne) Close Prev High/Low May 13 1455 1446 1462/1442 Jul 13 1468 1459 1475/1454 Sep 13 1477 1469 1484/1465 Dec 13 1482 1476 1490/1472 COFFEE(US$/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 215780 words
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Article67 2013-03-23 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:67 words
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Article57 2013-03-23 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 2495.057 words
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Article82 2013-03-23 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 2.37582 words
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Article155 2013-03-23 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 1.5186155 words
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Article118 2013-03-23 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 Sell118 words
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Article104 2013-03-23 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 50.46104 words
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Article68 2013-03-23 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$/barrel OpecOil Basket Price 105.6968 words
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Article69 2013-03-23 27 Mar 21 Aluminium, 99.7% purity (US$/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 *****.0069 words
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373 2013-03-23 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 6.9373 words
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PERSPECTIVE
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Article, Illustration963 2013-03-23 28 / 29 Orley Ashenfelter, Olivier Gergaud, Victor Ginsburgh, Karl Storchmann - 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 GergaudPHOTO: BLOOMBERG - 963 words
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Article, Illustration833 2013-03-23 28 / 29 Neeta Lal - 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 pernicketyPHOTO: AP - 833 words
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Wealth
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WEALTH INVESTING
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Article, Illustration1136 2013-03-23 30 / 31 Genevieve Cua - 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 that1,136 words
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BROKERS' TAKE
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Article295 2013-03-23 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 third295 words
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Article456 2013-03-23 30 / 31 Kenneth Lim - Compiled by Kenneth Lim Outperform CIMB Research March 22 Close: US$0.455 FY12 core EPS (earnings per share) is 9 per cent ahead of our expectation because of lower interest expense at Resorts World Manila (RWM). Underlying operations at its integrated resort were in line, though we had456 words
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Article, Illustration1407 2013-03-23 32 They are enticing investors after corporate-bond yields drop to less than half the 20-year average Bloomberg New York Derivatives that pool cred-it-default swaps to make magnified bets on corporate debt, popularised in the last credit bubble, are making a comeback as investors search farther afieldBloomberg; PHOTO: AFP - 1,407 words
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Article, Illustration1058 2013-03-23 33 Teh Hooi Ling - Lower GDP growth does not directly affect stock returns or corporate profitability in a big way, says GMO SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior Correspondent ~The writer is a CFA charterholder THE world is entering a slow-growth phase, economists tell us.Source: Singapore Department of Statistics, Thomson Datastream, Bloomberg - 1,058 words
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WEALTH REAL ESTATE
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521 2013-03-23 34 The plan relates to a 20-acre site called Wood Wharf and aims to tap demand from ‘creative industries’ Reuters London LONDON’S Canary Wharf district is turning to smaller office blocks, apartments, and streetlevel shops for its next phase of development as the financial crisis bringsReuters - 521 words
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Article562 2013-03-23 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN FEB 20 AND FEB 26,2013 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'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 99562 words
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Article, Illustration695 2013-03-23 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 estateBloomberg; PHOTO: BLOOMBERG - 695 words
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605 2013-03-23 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 atReuters - 605 words
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Page 36 Advertisements
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Advertisement123 2013-03-23 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,123 words
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Advertisement76 2013-03-23 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 CHOICES76 words
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BT Living
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DINING
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Article1044 2013-03-23 2 / 3 Debbie Yong - 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 the1,044 words
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Article, Illustration469 2013-03-23 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 focus469 words
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Article, Illustration436 2013-03-23 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 afterPHOTOS: LE BON MARCHE - 436 words
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Article, Illustration455 2013-03-23 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
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Article, Illustration451 2013-03-23 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 onlinePHOTO: KAGOSHIMA WAGYU - 451 words
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Article, Illustration447 2013-03-23 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 anotherPHOTOS: OF SARAH AND STEPHEN PARK, RIGHT: JOSEPH NAIR; FOOD PHOTO BY KOREA FOOD COMPANY - 447 words
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Article, Illustration392 2013-03-23 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 exactFILE PHOTOS - 392 words
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Article, Illustration528 2013-03-23 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 be528 words
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STYLE
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Article, Illustration1145 2013-03-23 5 May Yip - 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 FacchinettiPHOTOS: TOD’S - 1,145 words
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HOME & GARDEN
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Article, Illustration1041 2013-03-23 6 / 7 Tay Suan Chiang - 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 forALL PHOTOS: JOSEPH NAIR - 1,041 words
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WELLNESS
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Article, Illustration2278 2013-03-23 8 / 9 Jaime Ee; Corinne Kerk; Tay Suan Chiang; Cheah Ui-Hoon - 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 ByPHOTOS: CHI SPA, SHANGRI-LA HOTEL; PHOTOS: ESPA; PHOTOS: YEN MENG JIIN; PHOTO: W SINGAPORE - 2,278 words
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CEOS' HAWKER CHOICES 2013
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Article, Illustration2586 2013-03-23 10 / 11 Sara Yap; Natalie Koh; Debbie Yong - 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 FrankPHOTOS: YEN MENG JIIN; PHOTOS: GEYLANG CLAYPOT RICE; PHOTOS: YEN MENG JIIN; PHOTOS: DEBBIE YONG; PHOTOS: SARA YAP - 2,586 words
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Article, Illustration575 2013-03-23 12 Tay Suang Chiang - 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 SolutionsPHOTO: YEN MENG JIIN - 575 words
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GADGETS
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Article, Illustration442 2013-03-23 13 Christopher Lim - 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. And442 words
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SHOPPING
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Article, Illustration482 2013-03-23 14 Tan Teck Heng - 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 vaulted482 words
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HEALTH
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Article, Illustration899 2013-03-23 15 Michael Lim - 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 PublishingPHOTO-ILLUSTRATION: HYRIE RAHMAT - 899 words
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SPORTS
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Article, Illustration569 2013-03-23 16 Lee U-Wen - 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
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703 2013-03-23 16 lee u-wen - 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 over703 words
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GOLF
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Article, Illustration1119 2013-03-23 17 Justine Moss - 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 AsianPHOTOS: MISSION HILLS HAIKOU - 1,119 words
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MOTORING
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Article, Illustration527 2013-03-23 18 Samuel Ee - 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 degradingPHOTO: AP; PHOTO: AFP - 527 words
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Article, Illustration733 2013-03-23 19 Samuel Ee - 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 a733 words
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Article, Illustration540 2013-03-23 20 Samuel Ee - 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 the540 words
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Advertisement79 2013-03-23 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 today79 words
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Advertisement35 2013-03-23 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 IT35 words
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Advertisement835 2013-03-23 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.835 words
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