The Business Times, 29 March 2013

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Total Pages: 40
1 44 The Business Times
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  • Title Section
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    19 1 THE BUSINESS TIMES www. usinesstimes.com.sg FRIDAY, MARCH 29, 2013 S$1.00 MICA (P) 074/08/2012 Sffrl A SINGAPORE PRESS HOLDINGS PUBLICATION
    19 words
  • Article
    Lock icon Business loans boost bank lending
    27 1 BANKING FEBRUARY’S rise may signal better days ahead for the economy after bleak export and production data released earlier this week. 2
    27 words
  • Article
    Lock icon Completed condo prices take a dip
    32 1 PROPERTY ANALYSTS note this is in tandem with the sharp slowdown in resale transaction volumes for completed private homes following the Jan 12 cooling measures. 4
    32 words
  • Article
    Lock icon US Q4 growth beats estimates
    32 1 ECONOMY AMERCA’s gross domestic product slows less than previously estimated in the fourth quarter, reflecting a bigger gain in business spending and a smaller trade gap. 6
    32 words
  • Article
    Lock icon PSA International net profit up 11%
    36 1 RESULTS HEAVIER container traffic at PSA International’s ports abroad and in Singapore helped the port operator punch through 2012 with a year-on-year increase in net profit to $1.26 billion. 8
    36 words
  • Article, Illustration
    Lock icon DBS reinvents itself and beefs up market share
    1015 1  -  It does better job of protecting margins than rivals and raises ROE amid low interest rates By Siow Li Sen lisen@sph.com.sg Singapore DBS Group Holdings is on a roll. Having entrenched its position as Singapore’s leading bank, it expects to continue gaining
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  • Article, Illustration
    Lock icon Google Glass may be assembled in US, giving China a skip
    637 1  -  Report suggests that device will come from California facility and give US manufacturing a massive boost By Joyce Hooi joyceh@sph.com.sg Singapore THE manufacturing tide might finally be turning in the United States’ favour, with news that Google will make
    PHOTO: REUTERS  -  637 words
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      36 1 PERSPECTIVE Where neighbours are not friends 28 BANK GUIDELINES Alerting bankers to possibility of tax offences among clients 8 COMPANIES Market cap on SGX breaks January record 10 Executive Lifestyle Art’s Arab Spring L36-37 s b
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  • TOP STORIES
    • MARKETS
      • Article
        Lock icon STOCKS
        58 2 HSTI 3,308.10 (-4.93) HSTI FUTURES 3,290.00 (-23.00) HSIMSCI 375.08 (-0.65) HSIMSCI FUTURES 372.80 (-3.00) STOCKS Thursday Change KL COMP 1,674.04 +6.47 NIKKEI 225 12,335.96 -157.83 HANG SENG 22,299.63 -165.19 SET 1,544.57 -16.30 JAKARTA 4,940.99 +12.88 MANILA Closed KOSPI 1,993.52 +0.08 SHENZHEN B 792.82 -9.84 MUMBAI IND 18,835.77 +131.24 12noon
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.276 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.50 INDIA 14.45 Source: Bloomberg
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      • Article
        Lock icon FOREX
        48 2 US$ S$ US$ (S$ per US$) 1.242 (US$/S$ per 1.516 1.883 EURO(US$/S$/€ 1.280 1.589 Foreign currency per US$ S$ YEN 94.20 75.90 RM 3.097 2.494 HK$ 7.763 6.252 BAHT 29.28 23.58 RUPIAH 9,716 7,825 RENMINBI 6.214 5.004 INDIAN RUPEE 54.35 43.77 A$ 0.959 0.772 NZ$ 1.194 0.961
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    • Article, Illustration
      Lock icon Feb bank lending boosted by business loans
      551 2  -  Exceptional growth in sector augurs well for economy, after recent weak data By Teh Shi Ning tshining@sph.com.sg Singapore STRONGER than expected growth in business loans boosted bank lending in February, and may signal better days ahead for the economy after bleak export and
      551 words
    • Article, Illustration
      Lock icon Completed condo prices in Central down 3.7%
      677 4  -  Drop in February contrasts with 0.5% rise in Non-Central Region By Kalpana Rashiwala kalpana@sph.com.sg Singapore PRICES of completed private apartments and condos fell in February in contrast to January’s rise, according to the latest flash estimate from the National University of Singapore. Analysts
      Source: Institute of Real Estate Studies,NUS  -  677 words
    • Article, Illustration
      Lock icon BOJ to do whatever it takes to end deflation, Kuroda reiterates
      410 6  -  By Anthony Rowley btworld@sph.com.sg Tokyo BANK of Japan (BOJ) governor Haruhiko Kuroda kept up the pressure yesterday to convince financial markets and the Japanese public of his determination to do whatever it takes to end deflation including abolishing a
      410 words
    • Article
      Lock icon Q4 economy grows 0.4%, beats earlier estimates
      712 6 It reflects a bigger gain in business spending and a smaller trade gap LATEST US DATA Bloomberg Washington THE US economy slowed less than previously estimated in the fourth quarter, reflecting a bigger gain in business spending and a smaller trade gap. Gross
      Bloomberg  -  712 words
    • Article, Illustration
      Lock icon ECB needs to work harder to provide extra support for eurozone
      409 6  -  REUTERS BREAKINGVIEWS By Neil Unmack EUROPEAN officials are hurriedly denying that the Cypriot bail-in is a “template”. Markets know otherwise. The good bank/bad bank model adopted in Cyprus shows how banks can be recapitalised without government funds while protecting
      409 words
    • Article
      Lock icon First LNG shipment arrives in Singapore
      548 7  -  Qatargas cargo to be used to cool down commission SLNG Terminal By Ronnie Lim ronnie@sph.com.sg Singapore THE Republic received its first LNG shipment this week, bringing it ever closer to a new liquefied natural gas era when it can import LNG competitively from anywhere
      548 words
    • Article, Illustration
      Lock icon Tax ‘red flags’ to alert private bankers
      610 8  -  The practice guidelines have been added to the private bank industry code of conduct By Genevieve Cua gen@sph.com.sg Singapore THE private banking industry has come up with a comprehensive set of practice guidelines to help alert bankers to the possibility of “serious tax
      610 words
    • Article, Illustration
      Lock icon PSA Int’l net profit up 11% to $i.26b in 2012
      423 8  -  By Lynn Kan lynnkan@sph.com.sg Singapore HEAVIER container traffic at PSA International’s ports abroad and in Singapore helped the port operator punch through 2012 with an 11 per cent year-on-year increase in net profit to $1.26 billion from $1.14 billion. Profit
      FILE PHOTO  -  423 words
    • Article, Illustration
      Lock icon Cyprus banks reopen to orderly queues
      793 9 Withdrawals limited to 300 euros a day; cheque encashments still not allowed Reuters Nicosia CYPRIOTS queued calmly as banks reopened yesterday under tight controls imposed on transactions to prevent a run on deposits after the government was forced to accept a stringent EU rescue
      Reuters; PHOTO: REUTERS  -  793 words
    • Article
      Lock icon Vuitton raises prices of non-leather handbags
      267 9 Bloomberg Paris LOUIS Vuitton, which last month raised prices by an average 12 per cent in Japan, has imposed similar increases on non-leather handbags in most of its main markets since the start of the year, according to HSBC. The trunk maker, owned by
      Bloomberg  -  267 words
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      39 2 CONTENTS NEWS EXECUTIVE LIFESTYLE Cover Story 36-37 Cinema/Gaming 38-39 Top Stories 2-9 Companies 10-13 Singapore 14-16 World 17-23 Aviation/Shipping 24 Shipping Times 25-27 Perspective 28-29 Stocks Stats 30-34 Arts 40-41 Music 42 Wine 43 Crosswords 43 Around Town 44
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      190 3 $1 first month instalment* +$i first year insurance* 0 0 0 *T&Cs apply. Promotion of $1 (first instalment) and $1 (first year insurance) is applicable up to $2,000* each, or its actual value, whichever is lower. YOUR LEADER IN QUALITY PRE-OWNED CARS Select Eunos I Enterprise Technolink I One By
      190 words
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      1880 5 Yangzijiang Shipbuilding (Holdings) Ltd. (Incorporated in the Republic of Singapore) (Company Registration No.: *****7636Z) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Company will be held at Olivia Ballroom, Level 4, Raffles City Convention Centre, 80 Bras Basah Road, Singapore *****0 on
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      1412 7 NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of PEOPLE’S FOOD HOLDINGS LIMITED (the “Company”) will be held at Empress Ballroom 3, Level 2, Carlton Hotel Singapore, 76 Bras Basah Road, Singapore *****8 on Tuesday, 23 April 2013 at 10:00 am for the following
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  • COMPANY NEWS
    • Article
      Lock icon Market cap on SGX breaks January record
      533 10  -  Value has risen 7.1 since the end of December, to $949.4b By Andrea Soh sandrea@sph.com.sg Singapore THE total market value of companies listed on Singapore Exchange (SGX) rose to a multiyear high of $949.4 billion as at end-March, surpassing the record it made
      533 words
    • Article
      Lock icon Top 30
      217 10 Based on market capitalisation curr rank mar 28 2013 prev rank dec 31 2012 mkt cap (S$m) mar 28 2013 chng company from dec 31 2012 1 1 SingTel 57,201.1 8.8 2 3 Jardine Strategic 55,046.7 13.2 3 2 Jardine Matheson 54,201.9 6.6 4 4 Prudential PLC 48,716.5
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    • Article
      Lock icon SMRT forecasts losses in Q4 but sees a profitable full year
      345 10  -  By Carine Lee carinel@sph.com.sg Singapore SMRT Corporation expects to report a net loss for the financial fourth quarter ending March 31, 2013, as fare adjustments have not kept pace with escalating operating costs. “Increasing operating costs without corresponding fare
      345 words
    • Article
      Lock icon BH Global Marine hit by fraud in Batam land deal
      267 10  -  By Cai Haoxiang haoxiang@sph.com.sg Singapore MARINE electrical products company BH Global Marine has been hit by fraud over a land transaction in Batam. The company’s executive chairman, Alvin Lim, said in an announcement on Singapore Exchange (SGX) yesterday evening that
      267 words
    • Article, Illustration
      Lock icon STI slips 5 points ahead of long weekend
      589 11  -  STOCKS R Sivanithy sivan@sph.com.sg Senior Correspondent THE Straits Times Index yesterday slipped 4.93 points to 3,308.10, perhaps not surprising given the long weekend ahead, fresh European worries surrounding Cyprus and Italy, and the likelihood that Tuesday and Wednesday’s push that added 45
      589 words
    • Article
      Lock icon STI STOCKS
      110 11 Stock name Close Change CapMallsAsia 2.050 -0.040 CapitaLand 3.530 -0.030 CapitaMall 2.090 -0.040 CityDev 11.33 +0.100 ComfortDelGro 1.910 -0.005 DBS Grp 16.00 +0.050 F&N 9.440 GLP 2.620 -0.010 Genting SP 1.495 -0.010 Golden Agri 0.580 -0.010 HK Land 7.410 -0.090 JMH 65.10 +0.920 JSH 39.58 -0.320 Jardine C&C
      110 words
    • Article, Illustration
      Lock icon Lian Beng unit acquires Changi Road commercial plot
      394 11  -  By Felda Chay feldac@sph.com.sg Singapore A WHOLLY owned subsidiary of Lian Beng Group called Wealth Development has snapped up a freehold commercial plot at Changi Road, which is home to the AIA building, for $68 million. The construction firm said that it
      FILE PHOTO  -  394 words
    • Article
      Lock icon TOP 20 ACTIVES
      209 11 VOL CLOSE S i ngHaiy i 386 ,457 3 .8 0 .1 2 .7 WE Hldgs 250 ,990 1 1 .4 0 .8 7 .5 AdvanceSCT 166 ,484 1 .4 0 .2 12 .5 Innopac 86 ,871 21 0 .5 2 .3 Equat i on 82 ,784
      209 words
    • Article
      Lock icon TOP GAINERS
      63 11 BY CENTS CLOSE UP GLD 10US$ ***** 124.2 0.6 JMH 6510 114.2 1.4 DBXT MSMSIA 10US$ 1410 47.2 2.8 DBXT S&P500 10US$ 2551 45.9 1.5 DBXT MSTHAI 10US$ 2280 42.2 1.5 Hyflux 6% CPS 10 ***** 29.0 0.3 Lyxor AsiaRE 10US$ 1072 19.9 1.5 UOB 5.05%NCPS 100 *****
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    • Article
      Lock icon TOP LOSERS
      61 11 BY CENTS CLOSEDOWN DBS Bk 4.7% NCPS 100 ***** -80.0 -0.7 Jardine C&C 5113 -47.0 -0.9 DBXT FTVietnam 10US$ 2530 -43.5 -1.4 JSH 3958 -39.7 -0.8 DBXT FTChina25 10US$ 2800 -34.8 -1.0 Lyxor China H 10US$ 1415 -33.5 -1.9 Lyxor EmergingMkts 1 1021 -33.5 -2.6 DBXT CSI300 10US$
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    • Article, Illustration
      Lock icon Keppel O&M gets 4 more jack-up orders
      569 12  -  Worth US$820 million, the rigs will be delivered to Grupo R in phases in 201 5 By Lynn Kan lynnkan@sph.com.sg Singapore FOUR more jack-up rigs worth US$820 million are in the bag for Keppel Offshore and Marine (Keppel O&M), as orders for Mexico’s
      569 words
    • Article
      Lock icon Low Keng Huat (S’pore) Q4 earnings up 30%
      413 12  -  By Ong Chor Hao ongch@sph.com.sg Singapore STRONG contributions from associated companies and joint ventures helped Low Keng Huat (Singapore) cushion the impact of a sharp drop in revenue in its fiscal fourth quarter. For the three months ended Jan 31, it recorded
      413 words
    • Article
      Lock icon Amplefield revises terms of proposed rights issue
      335 12  -  By Kenneth Lim kenlim@sph.com.sg Singapore AMPLEFIELD has amended the terms of a proposed rights offering that could make it more dilutive for shareholders who choose not to take part. The electronics manufacturer also plans to allocate more of the proceeds to diversify into
      335 words
    • Article, Illustration
      Lock icon NH Ceramics to become coal player in RTO deal
      471 13  -  Issue of 3.1 8b shares in proposed US$1 50m acquisition of BlackGold By Lee Meixian leemx@sph.com.sg Singapore NH Ceramics shares hit a fiveyear high yesterday after news broke that it will undergo a reverse takeover (RTO) deal which will transform the
      Source: Bloomberg  -  471 words
    • Business briefing
      • Article
        Lock icon Hu An Cable to raise $18m through share placement
        115 13 HU An Cable Holdings plans to raise about $18 million by placing shares to two subscribers: investment firm Kenyon Group Ltd and private investor Michael Wu Wing Yeu. They are not parties acting in concert. Hu An Cable will issue them
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      • Article
        Lock icon Guangzhao Industrial’s unit loses land lease appeal
        180 13 SHANGHAI Guangzhao Plant Fast Growing Technology Co Ltd has lost its appeal against a joint venture (JV) partner, Huoqiu County Rural Cooperative Union (HCRCU). HCRCU, together with a second claimant, Huoqiu County Xihu Agricultural Development Co (HCXADC), had claimed that the unit of
        180 words
      • Article
        Lock icon Sysma completes De Paradiso acquisition
        87 13 CATALIST-LISTED construction company Sysma Holdings has completed its $35 million acquisition of De Paradiso Development, an investment holding company which owns two plots of land in Serangoon. De Paradiso has obtained a new $35.5 million loan from United Overseas Bank that was secured against its
        87 words
    • Article
      Lock icon M1 launches DBS virtual credit card
      279 13  -  By Joyce Hooi joyceh@sph.com.sg Singapore M1 and DBS have made parting with your money even easier by launching the DBS One.Tap card, Singapore’s first virtual credit card. M1 is the second telco after StarHub to launch this card, which works off mobile phones that
      279 words
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  • Page 13 Advertisements
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      108 13 LOST SHARE CERTIFICATES The following share certificates have been reported lost, destroyed or mislaid:Name of Company Certificate No. In the Name of No. of Shares Delong Holdings Limited *****65 Credit Suisse Securities 2,011,279 (USA) LLC ComfortDelGro *****12 Ng Mun Chong 12,698 Corporation Limited SBS Transit Ltd *****03 -do-1,200 NOTICE IS
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon 3 sites for 845 private homes & ECs released
      641 14  - 3 sites for 845 private homes ECs released Analysts say Coronation Road site will be the most coveted and contested because of its rarity and prime location By Ong Chor Hao ongch@sph.com.sg THREE 99-year leasehold sites that can yield about 845 private homes and executive condominiums (ECs) have been released,
      641 words
    • Article
      Lock icon Loyang Way industrial site up for sale
      406 14  -  By Nathaniel Chew natchew@sph.com.sg JTC Corporation has launched an industrial site at Loyang Way for sale by public tender, under the Industrial Government Land Sales programme. The 222,092 square foot site has a gross plot ratio of 2.5. It is zoned for Business
      406 words
    • Briefing
      • Article
        Lock icon 15 more trains for Downtown Line
        145 14 THE Land Transport Authority (LTA) has bought 15 more trains for the Downtown Line (DTL) for $119.2 million. This is in addition to the 73 already bought for the 42km rail line that will run from Bukit Panjang through the Central Business District to
        145 words
      • Article
        Lock icon Shunfu (Bishan) HUDC estate goes private
        63 14 SHUNFU (Bishan) HUDC estate was converted into a stra-ta-titled development under the Land Titles (Strata) Act yesterday. The estate comprises 358 units in Blocks 314, 315, 316, 317, 318 and 319 Shunfu Road. With this privatisation, the Bishan-Toa Payoh Town Council will cease its
        63 words
    • Article, Illustration
      Lock icon Sumitomo sets up support HQ here
      400 15  -  Unit to be operational on Monday, backing the group’s business development in the region By Ronnie Lim ronnie@sph.com.sg SUMITOMO Chemical, the largest Japanese investor on Jurong Island, has set up a new Business Support Regional HQ in Singapore for its South-east Asia, Indian and
      FILE PHOTO  -  400 words
    • Article
      Lock icon HDB to wrap up lift upgrading programme by end of next year
      451 15  -  By Lee Meixian leemx@sph.com.sg THE Housing and Development Board (HDB) is in the last leg of its Lift Upgrading Programme (LUP), and is targeting to complete the new lifts in outstanding precincts by end-2014. This would cap some
      451 words
    • Article
      Lock icon PM Lee to meet Obama next week on US visit
      339 15  -  By Joyce Hooi joyceh@sph.com.sg PRIME Minister Lee Hsien Loong will visit the United States from April 1-4, during which he will call on President Barack Obama as well as other US government and business leaders. During the working trip, Mr
      339 words
    • Article
      Lock icon Motor firms fined for bid-rigging at auctions
      440 16  -  Twelve vehicle traders charged for contravening Competition Act, penalised a total of $1 79k By Grace Ng ngrace@sph.com.sg THE Competition Commission of Singapore (CCS) has imposed penalties on 12 motor traders for engaging in bid-rigging activities at public auctions. They have been charged
      440 words
    • Article, Illustration
      Lock icon New board members appointed at three statutory boards
      422 16  -  Members of boards of EMA, SDC and BCA named By Lim Jia Ying sofialim@sph.com.sg THREE statutory boards will have new board members from April 1. The Energy Market Authority (EMA) will have a new chairman in Loh Khum Yean, who is currently
      422 words
    • Article
      Lock icon Cancer research to get bulk of $50m extra funding
      292 16  -  By Ng Sai Ying nsaiying@sph.com.sg NUS Yong Loo Lin School of Medicine has received a $50 million funding boost, thanks to a $25 million donation from the Yong Loo Lin Trust and $25 million from a matching Singapore government grant. The
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  • WORLD
    • Article
      Lock icon G-7 nations slowly picking up steam again: OECD
      454 17 But emerging economies tipped to remain the strongest growth performers AFP Paris THE world’s biggest economies are slowly recovering from a late 2012 slowdown, the Organisation for Economic Co-operation and Development (OECD) said in a near-term assessment of the Group of Seven
      AFP  -  454 words
    • Article, Illustration
      Lock icon RIM sells one million BlackBerry 10s
      400 17 AP Toronto RESEARCH In Motion (RIM) said yesterday that it sold about one million of its critically important new BlackBerry 10 devices and surprised Wall Street by returning to profitability in the most recent quarter. The earnings provide a first glimpse of how RIM’s
      AP; PHOTO: REUTERS  -  400 words
    • Article
      Lock icon Swedish firm can halve merchant card fees
      202 17 Washington Post Stockholm MERCHANTS paid an estimated US$600 billion last year to let their customers use plastic to shop. Now, some stores are turning to a Swedish company that says it can slash those credit and debit card fees in half. Those fees
      Washington Post  -  202 words
    • Article
      Lock icon IMF report urges countries to reduce energy subsidies
      431 18 The direct subsidies on energy amounted to US$480b worldwide in 201 1 AFP Washington THE International Monetary Fund (IMF) urged countries to reduce subsidies on energy, saying they worsen government’s fiscal positions and eventually create more advantages for the wealthy instead of
      AFP  -  431 words
    • Article, Illustration
      Lock icon Global food prices fall on lower demand
      296 18 Reuters Washington GLOBAL food prices have declined in recent months as lower demand for cereals and improved supplies pushed prices down, the World Bank said, warning that prices were still near record peaks and volatile. The World Bank’s Food Price Index showed international
      Reuters; PHOTO: REUTERS  -  296 words
    • Article
      Lock icon S Korea’s new govt cuts 2013 growth view
      314 18 Reuters Sejong, South Korea SOUTH Korea’s new government sharply cut this year’s economic growth forecast yesterday and pledged various stimulus measures including an extra budget over the coming weeks to pull the economy out of a slump. The previous government had predicted
      Reuters  -  314 words
    • Article
      Lock icon More Koreans going the Green Acres way
      892 19 Allure of city life fades, growth slows, it’s back to the roots Bloomberg Seoul LEE Geun-hong is a rare example of wealth in South Korea’s countryside, known for its shrinking population and decades-long farming slump. Driving a Mercedes rather than a Hyundai, the
      Bloomberg  -  892 words
    • Article
      Lock icon New pontiff adds personal touch on his first Easter
      502 19 Pope Francis kicks off celebrations by washing feet of young prisoners AFP Reuters Vatican City POPE Francis is stamping his personal touch on Easter celebrations this weekend, starting by washing the feet of young prisoners yesterday as he emphasises the importance
      AFP; Reuters  -  502 words
    • Article
      Lock icon SMEs in Italy, Spain struggle with bad debts
      868 20 Rising defaults signal further problems ahead for banks Reuters Milan SMALL companies struggling to repay loans in Italy and Spain signal bigger problems on the horizon for the eurozone after the dust has settled on Cyprus’ last-ditch bailout this week. Defaults by
      Reuters  -  868 words
    • Article, Illustration
      Lock icon Automakers focus on the luxurious as sales rise
      742 20 NYT New York WITH the luxury vehicle market booming, automakers are rushing to fill their showrooms with expensive new models now on display at the New York auto show. Overall vehicle sales have risen 8 per cent so far this year in
      NYT; PHOTO: BLOOMBERG  -  742 words
    • Article, Illustration
      Lock icon Anti-German sentiment abounds
      524 21 Backlash may harden resistance to further rescues Reuters Berlin A WAVE of anti-German sentiment unleashed by the harsh conditions imposed in a 10 billion euro (S$15.9 billion) bailout for Cyprus has stung politicians in Berlin and may harden resistance to further eurozone rescue measures in the run-up
      Reuters; PHOTO: AP  -  524 words
    • Article
      Lock icon Germany knew of Russian money in Cyprus
      468 21 Re uters London UK fund manager Bill Browder, one of the Kremlin’s harshest critics, briefed German officials on Russian money laundering in Cyprus just before the European Union set tough terms for the island’s bailout. He said at least US$31 million was laundered
      Reuters  -  468 words
    • Article
      Lock icon Market will boom if BN wins well: Najib
      543 22  -  He tells FT he is ‘cautiously optimistic’ of winning back two-thirds parliamentary majority in general election By Pauline Ng btworld@sph.com.sg Kuala Lumpur AHEAD of an impending general election, Malaysia’s Prime Minister Najib Razak has said the stock market would enjoy “an unprecedented
      543 words
    • Article, Illustration
      Lock icon Thailand in a bind over rice stockpiles
      441 22 Reuters Suphan Buri, Thailand THAILAND is set to sell half-a-million tonnes of rice on world markets at a loss, as it scrambles to offload a record stockpile deteriorating in quality in warehouses filled with grain bought under a government scheme. The two-year-old policy
      Reuters; PHOTO: REUTERS  -  441 words
    • Article
      Lock icon Petronas mulls RM5b sukuk offering: sources
      272 22 Bloomberg Kuala Lumpur MALAYSIA’S Petronas Gas Bhd is considering setting up a RM5 billion (S$2 billion) Islamic bond programme to part finance the construction of regasification plants, three people familiar with the deal said. The gas distribution arm of state oil company Petroliam Nasional
      Bloomberg  -  272 words
    • Article, Illustration
      Lock icon China industrial profits up 17% in Jan-Feb
      426 23 Reuters Beijing CHINA’S industrial profits grew 17.2 per cent in the first two months of this year from a year ago, adding to signs that a burgeoning macroeconomic recovery is being felt across the corporate sector. “The industrial profit figure in the first
      Reuters; PHOTO: REUTERS  -  426 words
    • Article, Illustration
      Lock icon China Cosco posts loss of 9.56b yuan
      389 23 Bloomberg Hong Kong CHINA Cosco, the nation’s biggest shipping company, has reported a wider-than-expected annual loss as dry-bulk rates slumped. The net loss was 9.56 billion yuan (S$1.89 billion), compared with 10.5 billion yuan a year earlier, under international accounting standards, the Tianjin-based
      Bloomberg; PHOTO: BLOOMBERG  -  389 words
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      57 17 ENJOY 40% DISCOUNT THIS MARCH THE LATEST CAMERA TECH FROM JAPAN SINGAPORE TABLETS TESTED Backup Your Ebooks installing Office 365 Make Use of Google Drive m Real Choice Inside -uli-frame C IMPA( i 40% OFF Offer valid till .31/3/2013. Enjoy this special discount when you subscribe to the print edition
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      Lock icon Page 19 Advertisements Column 1
      42 19 HOI fM W- 3 ■u J with THE SCRF 29 March 2013,8:00PM, Singapore Indoor Stadium Tune in to HOT FM91.3 or log on to www.hotfm.sg for more details! Midas Promotions www.midaspromotions.com v r L J WWW.HOTFM.SG I D FACEBOOK.COM/HOTFMSG I 3* HOTFMSG
      42 words
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  • AVIATION/SHIPPING
    • Article, Illustration
      Lock icon American, US Airways merger to go ahead
      597 24 The merger still needs approval from Department of Justice antitrust regulators and US Airways shareholders AP New York AMERICAN Airlines won bankruptcy court approval to combine with US Airways and form the world’s biggest airline. “The merger is an excellent result. I don’t
      AP; PHOTO: REUTERS  -  597 words
    • Article
      Lock icon OSX to cancel overseas bond sale
      371 24 Bloomberg Rio De Janeiro OSX Brasil SA, the shipbuilder controlled by billionaire Eike Batista, shelved plans to sell debt abroad as a rout in its stock and bonds deepens, according to a memo from underwriters obtained by Bloomberg News. “Extraordinary volatility” in bonds from
      Bloomberg  -  371 words
    • Article
      Lock icon Turboprops to help SpiceJet turn a profit
      587 24 Bloomberg New Delhi SPICEJET Ltd, controlled by Indian billionaire Kalanithi Maran, is counting on Bombardier Inc turboprop planes to add more connections to under-served towns and help reverse two years of losses. The Bombardier Q400 turboprop services will contribute about 20 per cent
      Bloomberg  -  587 words
    • Article
      Lock icon SHIPPING TIMES
      2770 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
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        Lock icon When neighbours are not friends
        926 28 / 29  -  Regional tensions are at a high between Japan and China, Japan and South Korea, and between China and a number of South-east Asian nations Anthony Rowley Tokyo Correspondent March has been a remarkable month for East Asia. Japan has sought economic refuge in the bosom,
        PHOTO: AP  -  926 words
    • Article
      Lock icon India’s tax system may be deterring foreign investors
      746 28 / 29  -  By Gagan Malik, Anumeha Jain OVER the years, India has employed various monetary instruments and fiscal policies, with varying degrees of importance and to different extents, in order to achieve higher economic growth and stability, efficient resource allocation and equitable distribution of
      746 words
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      28 26 Experienced sh/p maintenance services wanted. Can -they find your services here in -the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES Shipping Times
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      44 27 Experienced shfp maintenance services wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327. THE BUSINESS TIMES Shipping Times Shipping lines seeking reliable logistics partners Can they find your services here in the Shipping Times?
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  • Article
    Lock icon SGX
    8091 30 Transaction date: Mar 28 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 14 unch 125 14 14 13.7 14.5 10.6 0.8 11.6 67 5.8 3 A-Sonic 3.9 3.9 4.5 3.3 27.9
    8,091 words
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  • Article
    Lock icon SGX CATALIST
    1890 33 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 $mil 21.5 15 t 800 Super 19.9 unch 25 19.9 19.9 19 19.9 3.3 5 5.9 35.6 4.3 2.8 t AA Grp 3.9 3.1 4.6 195
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    Lock icon SECURITIES TRADING SCOREBOARD
    186 33 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 2 11 1 0 0 0 2 11 1 Manufacturing 37 63 37 7 15 8 44 78 45 Commerce 20 25 20 5 10 1 25 35 21 Tpt/Stor/Comms 12 21 6
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    Lock icon SECURITIES TRADING TURNOVER
    123 33 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 46,568 46,568 174,862 174,862 Manufacturing 307,224 238,484 545,708 170,799 25,895 196,694 Commerce 133,924 367,775 501,699 107,781 32,748 140,530 Tpt/Stor/Comms 118,506 13,727 132,233 188,219 5,221 193,441 Finance 106,201 208 106,409 244,224 65 244,289 Construction 73,619 34,108
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    Lock icon BT SHARE INFORMATION SERVICE
    769 33 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Mar 25 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Aspial Corp 26-Mar-13 Koh Wee Seng Buy 150 0.42 *****0 14.53 *****0 14.54 China Jishan 26-Mar-13 Jin
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  • MARKETS
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      Lock icon LIFFE
      79 34 Mar 27 COCOA (£/tonne) Close Prev High/Low May 13 1452 1447 1458/1440 Jul 13 1463 1460 1467/1451 Sep 13 1474 1469 1479/1461 Dec 13 1478 1471 1482/1465 COFFEE(US$/tonne) Close Prev High/Low Mar 13 2023 2057 2044/2033 May 13 2054 2090 2095/2052 Jul 13 2071 2102 2107/2068 Sep 13 2077
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    • Article
      Lock icon METALS
      67 34 Mar 28 GOLD(US$/oz) Mar 28 Mar 27 Hong Kong 1612.20 1602.00 Mar 27 Mar 26 London 1604.46 1598.96 1605.23 1599.73 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 36.03 35.38 Source: UOB PLATINUM Lon (US$/oz) Mar 27 Close Previous PM Fix 1575.00 1565.00 AM Fix 1573.00 1570.00 Source:
      67 words
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      Lock icon FOREIGN CURRENCY NOTE RATES
      118 34 Mar 28 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.328 1.265 Can dollar 1.250 1.191 Euro 1.624 1.547 Sterling pound 1.915 1.842 NZ dollar 1.074 1.014 US dollar 1.267 1.207 Local dollars to 100 units of foreign currency: Currencies Sell
      118 words
    • STOCK MARKETS
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        Lock icon Straits Times Index
        20 34 YTD change: +4.45% 52-week high: 3,321.62 on March 27,2013 52-week low: 2,698.90 on June 4,2012 Source: Bloomberg
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        Lock icon Hang Seng Index
        20 34 YTD change: -1.58% 52-week high: 23,944.74 on Feb 4,2013 52-week low: 18,056.40 on June 4,2012 Source: Bloomberg
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        Lock icon Dow Jones Industrial Average
        25 34 YTD change:+10.85% 52-week high: 14,563.75 on March 25,2013 52-week low: 12,035.09 on June 4,2012 (Chart shows Wednesday’s index closing) Source: Bloomberg
        Source: Bloomberg  -  25 words
      • Article, Illustration
        Lock icon Shanghai Stock Exchange Composite
        21 34 YTD change: -1.45% 52-week high: 2,453.73 on May 4,2012 52-week low: 1,949.46 on Dec 4,2012 Source: Bloomberg
        Source: Bloomberg  -  21 words
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        Lock icon Nikkei 225
        19 34 YTD change: +18.67% 52-week high: 12,650.26 on March 21,2013 52-week low: 8,238.96 on June 4,2012 Source: Bloomberg
        Source: Bloomberg  -  19 words
    • Article
      Lock icon PALM OIL
      60 34 Mar 28 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Apr 13 2383.0 2410.0 2400.0 2370.0 62 1379 May 13 2417.0 2434.0 2419.0 2399.0 3159 ***** Jun 13 2422.0 2448.0 2431.0 2411.0 ***** ***** Jul 13 2435.0 2454.0
      60 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      92 34 Mar 28 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****S 27-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-13 100.04 100.09 100.08 5-Year N*****0T 2.375
      92 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 34 Mar 28 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2952 1.2955 1.0432 1.0433 Canadian dollar 1.2208 1.2214 0.9837 0.9833 Euro 1.5891 1.5896 1.2799 1.2802 NZ dollar 1.0397 1.0405 0.8374 0.8380 Sterling pound 1.8824 1.8830 1.5161 1.5165
      155 words
    • Article
      Lock icon CHICAGO BOT
      92 34 Mar 27 SOYBEANS(5,000 bu min; USc/60 lb bushels) Close Previous High/Low May13 1453.75 1447.75 1457.75 1443.50 Jul13 1431.00 1426.50 1434.00 1421.25 Aug13 1385.50 1382.25 1388.00 1377.00 Sep13 1315.25 1312.00 1318.00 1308.00 SOYBEAN OIL (60,000 lbs; USc/lb) Close Previous High/Low May13 50.82 50.82 51.03 50.60 Jul13 51.03 51.06 51.24
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    • Article
      Lock icon OIL
      68 34 Mar 27 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 109.36 1.07 WTI (Near Mth) 96.53 0.26 Dubai (1-Mth F) 106.67 1.40 Tapis blend 114.21 1.34 Minas 109.21 1.34 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 102 1.00 Jet Kerosene 120.92 0.56 US$/barrel OpecOil Basket Price 105.86
      68 words
    • Article
      Lock icon LONDON METALS
      69 34 Mar 27 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1885.75 1875.25 3 months 1916.00 1910.00 Copper, Grade A (US$/tonne) Cash 7576.75 7592.75 3 months 7606.00 7625.00 Lead (US$/tonne) Cash 2096.25 2105.25 3 months 2118.00 2130.50 Nickel (US$/tonne) Cash *****.50 *****.50 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      373 34 In local curr In S$ In US$ dy yr dy yr dy yr Mar 27 Index Change Change Change Change Change Change World Preliminary 1021.1 -0.2 8.8 -0.2 8.5 -0.4 6.6 EAFE Preliminary 843.8 -0.2 8.9 -0.4 5.9 -0.6 4.0 Europe Preliminary 1214.2 -0.6 5.8
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      85 35 Executive LifestyleBTTHE BUSINESS TIMES MARCH 29, 2013 CINEMA/GAMING Stephenie Meyer's alien invasion L38-39 ART’S ARAB SPRING Art Dubai, which started out in 2007 selling Western works to Arabs, is now a mecca for Middle Eastern art L36-37 L44 PHOTO OF ‘SCULPTURES ON THE BEACH’ SEGMENT OF ART DUBAI: HELMI YUSOF
      85 words
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  • BT Executive Lifestyle
    • COVER STORY
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        Lock icon Art’s Arab spring
        1669 36 / 37 Arab art is experiencing a renaissance, and Dubai has become an oasis of its richness, writes Helmi Yusof helmi@sph.com.sg DUBAI has been called an “instant metropolis”, emerging in less than a decade to become a hub for the well-travelled, well-heeled and well-known. Similarly and perhaps in an
        ALL PHOTOS OF ART DUBAI EXHIBITS BY: HELMI YUSOF, EXCEPT PALESTINIAN ARTIST LAILA SHAWA’S ‘WHERE SOULS DWELL’ – FROM REUTERS  -  1,669 words
    • CINEMA/GAMING
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        Lock icon Meyer channels her inner X-File
        522 38 / 39  -  Stephenie Meyer ditches the bloodletting of Twilight to embrace alien territory. By Dylan Tan By Dylan Tan dylantan@sph.com.sg TWO guys, one girl, endless possibilities. Leave it to Stephenie Meyer to conjure up something new with the same premise as she did with her hugely successful
        them.PHOTO:  -  522 words
      • Article, Illustration
        Lock icon Joes to the rescue with gizmos and gusto
        568 38 / 39  -  By Geoffrey Eu WHEN it comes to All-American action heroes, no one rates higher on the icon scale than GI Joe, a character whose comic-strip roots date back to the 1940s and after he was introduced as an action figure by toymaker
        PHOTO: PARAMOUNT PICTURES  -  568 words
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        Lock icon Ip Man’s plot missteps
        527 38 / 39  -  By Dylan Tan THREE months into 2013 and already, a second Ip Man film has hit the big screen. It’s the fifth in as many years and follows Wong Kar Wai’s stylish The Grandmaster, which opened in late January. But while Wong takes the biopic approach
        PHOTO: SHAW  -  527 words
      • Article, Illustration
        Lock icon Judgment day for Gears of War series
        425 38 / 39  -  gaming review By Christopher Lim limchris@sph.com.sg PREQUELS and sequels are usually distinct animals in the gaming world, but Gears of War: Judgement throws this convention out of the window by being both. It’s the fourth game in the Gears of War series of
        PHOTO: GEAR OF WAR: JUDGEMENT  -  425 words
    • ARTS
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        Lock icon Four directors salute Pao Kun
        652 40 / 41  -  Eleven years after his death, Singapore dramatist Kuo Pao Kun inspires four non-local Chinese directors to create a play in his honour. By Helmi Yusof By Helmi Yusof, Sara Yap Taiwanese director Li Bao-chun, 62, fondly recalls watching years ago the play Lao Jiu written
        PHOTO: ESPLANADE  -  652 words
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        Lock icon President Tony Tan gets a feel for the arts
        101 40 / 41 President Tony Tan Keng Yam tries out an installation work by Ryf Zaini (right) titled Unveil The Curtain To The Window With No Ledge, which examines the notion of knowledge and learning. Ryf is one of six artists under the age
        PHOTO: SINGAPORE ART MUSEUM  -  101 words
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        Lock icon Classic connection
        447 40 / 41  -  By Helmi Yusof ROBERTO Arlt, Jorge Luis Borges, Julio Cortazar and Marguerite Duras are among the notable writers of the 20th century. Put the first letters of their surnames together and you have ABCD which is the title of a new play by Vertical Submarine. Vertical Submarine, an
        PHOTO: KONG CHONG YEW/THEATREWORKS  -  447 words
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        Lock icon Filipino picture of diversity
        1349 40 / 41  -  By Cheah Ui-Hoon uihoon@sph.com.sg AWARENESS of Filipino art has been building over the years, especially in Singapore, with no fewer than six galleries with current and upcoming exhibitions. Filipino art collectors from Manila and the region have even been flying to Singapore to view exhibitions and
        PHOTOS: YAFUZ, THE ROAD  -  1,349 words
    • MUSIC
      • Article, Illustration
        Lock icon Iglesias wins over China fans
        712 42  -  Voted China’s Most Popular Artist, Julio Iglesias is on a roll. By Christopher Lim limchris@sph.com.sg THOSE who only listen to music in one language are often surprised how popular artists are in other markets and countries. Take Julio Iglesias, the world’s best-selling male Latin artist
        PHOTO: JULIO IGLESIAS’S OFFICE  -  712 words
      • Article, Illustration
        Lock icon Trio of releases play musical chairs on charts
        592 42  -  cd reviews By Christopher Lim limchris@sph.com.sg The 20/20 Experience Justin Timberlake (RCA) Rating: B+ THERE’S no doubt that one of the reasons Justin Timberlake’s The 20/20 Experience sold almost a million copies in the United States in its first week is hard-
        592 words
    • WINE
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        Lock icon The case for wine
        1109 43  -  Asking the question “Why wine and not something else?” is the first step in a journey within ourselves to understand our own roots. By NK Yong By NK Yong btnews@sph.com.sg WHY wine? Why not beer, cognac, gin and tonic, whisky and water, etc? The first and
        PHOTOS: NK YONG  -  1,109 words
    • AROUND TOWN
      • Around Town
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          Lock icon Dance
          108 44 Reborn. Fullstop..: Catch this last public performance by local dance company ECNAD, which will take its final bow after 17 years of being a part of Singapore’s art scene. The dances Reborn and Fullstop are choreographed by co-founders Tan How Choon and Lim Chin Huat respectively. They will perform
          108 words
        • Article
          Lock icon Art
          239 44 Wish You Were Here: Filipino artist Paulo Vinluan will hold his first solo exhibition here in Singapore. Comprising drawings, paintings and an animation video, visitors will see works such as Wish You Were Here and Where Was I? The exhibition is based on the theme of movement, an allusion
          239 words
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          Lock icon Music
          378 44 Secret Live in Singapore: South Korean K-pop girl group Secret will perform in Singapore for the first time. Known for hits like Magic, Shy Boy and Madonna, they will also play some of their more recent songs, including those from their recently released EP Poison. Marina Bay Sands Expo
          378 words
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          Lock icon Exhibition
          93 44 Absolut ELYX Craft of Perfection: Check out this exhibition featuring the vanishing trade of craftsmanship in Singapore. Mr Chow Ho Weng (right), a master keysmith, will talk about his craft and how he has refined his skills over some 45 years of key-making. Organised by Absolut, an international vodka
          93 words
        • Article, Illustration
          Lock icon Food
          654 44  -  Compiled by SARA YAP Easter Springs to Life at The Glass House: Celebrate Easter at this Alice in Wonderland-themed Sunday lunch at Hotel Fort Canning. Apart from feasting on a buffet spread of dishes such as prawn bisque and roasted leg of lamb, guests can also participate in an
          PHOTO: EQUINOX  -  654 words
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  • Page 43 Miscellaneous
    • Miscellaneous
      Lock icon Page 43 Miscellaneous Column 1
      336 43 Across 1 Go to pieces as rent’s increased (5,2) 9 Outline in which one car is overturned (8) 10 Grandee adopted defensive stance (2,5) 11 Cares not about one farther up the tree (8) 12 Creator of a ramshackle hut finished with gold (6) 13 Escape outpouring that follows passing
      336 words
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