The Business Times, 23 April 2013

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Total Pages: 32
1 32 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg Spi A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Tuesday, April 23, 2013
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  • 1023 1  -  Prospectors here panning for wealth offered by the virtual currency By JOYCE HOOI [SINGAPORE] The bitcoin gold rush is trickling into Singapore. In local forums and exchanges, prospectors are panning for wealth offered by the virtual currency created by an anonymous
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  • 623 1  -  S’pore, Indonesia to institutionalise their co-operation By LEE U-WEN [SINGAPORE] Indonesia and Singapore have agreed to work together to institutionalise their cooperation such that the work done by both sides over the years will carry on even after Indonesian President Susilo Bambang Yudhoyono steps
    PHOTO: LIM SIN THAI/THE STRAITS TIMES  -  623 words
  • MARKETS DIGEST
    • 65 1 GST INDEX 3,308.92 (+14.87) GST INDEX FUTURES 3,287.00 (+14.00) HSIMSCI 374.03 (-0.70) HSIMSCI FUTURES 371.20 (-1.70) US$ S$ US$ (S$ per US$) 1.241 (US$/S$ per 1.523 1.889 EURO (US$/S$/€ 1.304 1.618 Foreign currency per US$ S$ YEN 99.70 80.30 RM 3.049 2.457 HK$ 7.764 6.257 BAHT 28.74 23.16 RUPIAH
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    • 48 1 Monday Change KL COMP 1,706.68 +0.40 NIKKEI 225 13,568.37 +251.89 HANG SENG 22,044.37 +30.80 SET INDEX 1,559.10 +13.64 JAKARTA COMP 4,996.92 -1.54 MANILA COMP 7,120.48 +163.38 SEOUL COMP 1,926.31 +19.56 SHENZHEN B 829.64 +3.78 MUMBAI IND 19,169.83 +153.37 12noon EDT Change DOW 14,507.19 -40.32 NASDAQ 3,217.15 +11.09
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    • 23 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 TAIWAN 13.386 TAIWAN 5.036 JAPAN US KOREA 9 33 BRITAIN INDIA US Source: Bloomberg
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  • Page 1 Advertisements
    • 207 1 COMMENTARY Iskandar, a South-east Asian success story PAGE 24 SME Inc Tracking end-to-end cargo security PAGE 10 PROPERTY Top-level changes at Ascendas, JTC, Spring PAGE 32 NEWS ANALYSIS Developers’ sales: Will govt tackle caveats data next? PAGE 32 GLAMOUR DOUBLE DATE AND GLAMOUR DATE Self-winding mechanical movement, steel and 18
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  • TOP STORIES
    • 370 2 Wild West of bitcoin gallops into town THE bitcoin gold rush is trickling into Singapore. In local forums and exchanges, prospectors are panning for wealth offered by the virtual currency created by an anonymous programmer four years ago. On FYB-SG, a four-month-old local exchange, transaction volumes for March
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    • 595 2  -  Yudhoyono also says country’s economy is thriving, but warns against complacency By LEE U-WEN [SINGAPORE] Indonesian President Susilo Bambang Yudhoyono said his country has moved on from its troubled past following the Asian financial crisis of 1997 and transformed itself into a stable democracy with
      PHOTO: LIM SIN THAI/THE STRAITS TIMES  -  595 words
    • 527 2  -  By TEH SHI NING [SINGAPORE] Singapore consumers continue to expect inflation to edge downwards, says the latest SKBI-MasterCard Singapore Index of Inflation Expectations report. But their expectations remain above official inflation forecasts. Responses from a representative sample of 400 local consumers polled online in
      Source: SKBI-MasterCard Singapore Index of Inflation Expectations  -  527 words
    • 702 2  -  Business groups raise concern about rising cost burden By TEH SHI NING [SINGAPORE] Business groups are concerned that the government’s intention to raise the salary requirements for hiring foreigners on employment passes will add to business costs, or make it harder to hire
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    • 1022 4  -  Innovation began here before it went through a boom and eventual demise Reports by JOYCE HOOI [SINGAPORE] Across half of Bitcoin’s history spans a story that begins in Singapore, marked by dot-com triumph but sullied by lost wealth and ugly recrimination. The narrative’s tendrils
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    • 655 4 [SINGAPORE] Is Bitcoin the next big thing, or is it doomed to go to bits and pieces? It depends on whom you ask. At the heart of considerable debate about the virtual currency’s future is the fixed nature of its supply. By design,
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  • Page 2 Advertisements
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    • 31 2 Stocks simple profit Track bankers,follow trend HomilySoftware for Phon Free Now scan QR 01 search 'Homily 7 in store Key URL in Chrome or Safari Shortcut URL: http://ezkey.in y *****752 www.apitaImaster.com.sg
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  • Page 3 Advertisements
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  • Page 4 Advertisements
    • 144 4 W. w A H M. 3 4S s». m x 'i a new event experience you From international conferences to your next annual event, at the rejuvenated Pan Pacific Singapore you can meet, greet and entertain in style. With 27 meeting rooms covering over 31,000 square feet and a choice
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  • COMPANY NEWS
    • 618 5  -  They include issues by San Miguel and HK property firm Lai Fung By SIOW LI SEN DBS Bank is increasingly popping up in major bond deals in the region, going beyond its home market where it dominates the Singapore dollar fixed income
      PHOTO: BLOOMBERG  -  618 words
    • 775 5  -  HOCK LOCK SIEW By R SIVANITHY SUDDEN trading halts are understandably unpopular with day traders and proprietary desks because they generate uncertainty over when trading will resume and sometimes mean having to hold unwanted overnight positions. For example, on April 4 at about 4.36pm, Yoma
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    • 630 7  -  It ties up with Lockheed Martin unit for seabed exploration licence By ANGELA TENG, LYNN KAN KEPPEL Corporation is kickstarting new capabilities in the nascent field of seafloor mining by striking up a joint venture with Lockheed Martin subsidiary UK Seabed Resources to
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    • 300 7  -  By CAI HAOXIANG MAINBOARD-listed baijiu maker Dukang Distillers Holdings, whose shares have hit a one-year high, revealed yesterday that it has joined the ranks of five or six other white liquor brands endorsed by China’s Ministry of Foreign Affairs to serve
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    • COMPANY BRIEFS
      • 63 7 CHINA Bearing (Singapore) Ltd plans to place up to 46 million new shares, about 20 per cent of total issued shares, at 2.97 cents a share to raise net proceeds of $1.3 million. The issue price represents a discount of 10 per cent
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      • 93 7 RUSSING Med Holdings (RMH), a wholly owned sub- sidiary of RusSing Holdings, has acquired a 10 per cent stake in Singaporebased Asian American Medical Group (AAMG) to accelerate the development of Asia’s first comprehensive transplant centre (CTC) in Singapore. RMH said yesterday that
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    • 536 7  -  By MINDY TAN MAPLETREE Commercial Trust (MCT) posted distribution per unit (DPU) of 1.737 cents for the fourth quarter ended March, beating its forecast of 1.449 cents by 19.9 per cent. The distribution is 11.8 per cent up from the DPU of
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    • 687 8  -  Need to protect other assets seen as helping gold to keep its shine By MICHELLE QUAH THE recent slump in gold prices saw investors pull out in droves from ex-change-traded funds (ETFs) tracking the precious metal; but that is not to say
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    • 563 8  -  By LYNN LYNN KAN THE two surviving shipping trusts on the Singapore Exchange, First Ship Lease Trust and Rickmers Maritime, reported differing fortunes for the first quarter ended March 31, 2013. The 16-containership Rickmers Maritime announced distribution per unit of 0.6 US cents, unchanged
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    • 691 8  -  Major shareholder’s plans a major uncertainty: analysts By KENNETH LIM THE fizz of a takeover battle gone, the stock of Fraser and Neave (F&N) tumbled yesterday as trading resumed amid thin volumes and uncertainties about the future direction of the company. Shares
      Source: Bloomberg  -  691 words
    • 279 8  -  By LYNN KAN MAINBOARD-listed BBR Holdings has secured two new contracts worth RM286 million (S$116.4 million) to build two bridges in Terengganu and Sarawak in Malaysia. The contracts were secured through its subsidiary, BBR Construction Systems (M) Sdn Bhd. The first
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  • Page 5 Advertisements
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  • SINGAPORE MARKETS
    • 554 6  -  Slightly firm trading session produces 226 advances against 217 declines STOCKS R SIVANITHY Senior Correspondent A CAUTIOUS and slightly firm session yesterday ended with the Straits Times Index (STI) gaining 14.87 points to 3,308.92, in line with similarly modest rises around the region.
      Source: Bloomberg  -  554 words
    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 10 1 5 0 0 0 10 1 5 Manufacturing 55 54 39 3 12 14 58 66 53 Commerce 24 24 15 7 4 6 31 28 21 Tpt/Stor/Comms 13 18 11
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    • 123 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 25,963 25,963 77,449 77,449 Manufacturing 313,443 135,006 448,449 259,434 8,526 267,960 Commerce 164,687 93,569 258,256 97,364 7,164 104,528 Tpt/Stor/Comms 191,421 10,770 202,191 129,545 4,191 133,736 Finance 81,388 65 81,453 145,127 31 145,158 Construction 94,209 384,356
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    • 112 6 Stock name Close Change CapMallsAsia 1.980 CapitaLand 3.530 +0.020 CapitaMall 2.300 +0.040 CityDev 11.25 ComfortDelGro 1.915 -0.010 DBS Grp 15.65 -0.040 GLP 2.770 +0.010 Genting SP 1.405 +0.010 Golden Agri 0.530 +0.005 HK Land 7.400 -0.040 HPH Trust US$ 0.810 JMH 67.79 +2.790 JSH 39.53 -0.070
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    • 73 6 Apr 22 VALUE CLOSE BT OB/OS -26.00 +169.00 BT CADI -*****.00 +10.00 BT 10-day MA -*****.00 -3.00 FTSE ST Mid Cap 837.59 -0.12 FTSE ST Small Cap 584.38 +0.91 FTSE ST All Share 819.22 +2.88 FTSE ST China Top 218.15 +0.44 FTSE ST China 246.87 -0.04 FTSE
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    • 52 6 VOLUME YHM 383,001,000 FreightLinks 122,151,000 Armarda 69,011,000 Thai Beverage 68,724,000 Innopac 65,900,000 TT Intl 58,619,000 AdvanceSCT 51,326,000 SingHaiyi 50,694,000 WE Hldgs 50,654,000 LionGold 47,563,000 VALUE($) SingTel 55,113,046 LionGold 51,330,945 UOB 50,815,692 Thai Beverage 40,199,270 Keppel Corp 38,360,580 SPH 37,704,690 DBS Grp 36,302,269 Ascendasreit 35,967,835 F&N 31,553,890 Olam
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    • 897 6  -  Compiled by JOYCE HOOI CapitaMall Trust April 22 close: $2.30 OCBC Investment Research, April 22 CAPITAMALL Trust (CMT) turned in a strong set of Q1 results last Friday. As we had previously expected, net property income (NPI) and distributable income grew 15.5 per cent and 14.3 per cent
      Source: Bloomberg  -  897 words
    • 489 6 CURRENCIES Reuters [LONDON] The yen weakened against the US dollar yesterday, closing in on the psychologically key 100 level after the Group of 20 (G-20) countries gave a nod of acceptance to reflationary moves in Japan that have resulted in a sharply weaker
      Reuters; PHOTO: BLOOMBERG  -  489 words
    • 114 6 BY CENTS CLOSE UP JMH 6779 346.2 4.3 GLD 10US$ ***** 78.2 0.5 IS MS India 100S$D 777 16.0 2.1 Kep Corp.ES.1304 1130 16.0 1.4 OCBC Bk 5.1%NCPS 100 ***** 16.0 0.2 IS LC BND 100S$D 1338 15.0 1.1 Spore Land 914 14.0 1.6 Keppel Corp 1132 13.0 1.2
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    • 123 6 BY CENTS CLOSE DOWN F&N 900 -44.0 -4.7 DBXT S&P Short 10US$ 3163 -38.5 -1.0 DBXT MSINDO 10us$ 1725 -21.1 -1.0 DBXT MSJAP 10US$ 4369 -21.1 -0.4 SIA 1072 -19.0 -1.7 SGX 755 -17.0 -2.2 Hyflux 6% CPS 10 ***** -15.0 -0.1 SIA 200 1073 -15.0 -1.4 Lyxor China
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    • 5 6 DAILY
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  • Page 7 Advertisements
    • 120 7 V V Place your risk in the market, not in your price Many Forex brokers claim to offer extremely low prices down to 0.8 pips. But, what s the point of a good price if you don't have the liquidity to make the most of it or worse, your order
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  • Page 8 Advertisements
    • 16 8 All forms of trading and investment carry risk. Such activities may not be suitable for everyone.
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    • 72 8 Creating Experience. Value. Partnerships We bring Inspiration, Innovation, Value to your business! FUTURE TRANSPORT ASIA 2013 We help you make a mark in the transport sector: Airport Terminals Aviation Rail Road Find out how to target your market today. Organised by: sphere SINGAPORE PRESS HOLDINGS Find out more about the
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    • 235 8 InvestorRelationsHighlights AsiaMedic to commence Myanmar operations via radiology services for two hospitals SGX Catalist-listed AsiaMedic Limited, a premier healthcare provider in Asia, is pleased to announce it has signed an tele-radiology service agreement with Nyein Hospital and City Hospital, both located in Mandalay, Myanmar. AsiaMedic will provide the hardware, software
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    • 101 8 Uj budget tour Planners Beyond Expectations Discovertheworldwith Budget Tour Planners We offer customised itineraries that go beyond the ordinary... /Company Incentive Trips Off-site Meetings /Special Interest Tours /Tradeshows /Educational Tours /Pilgrimage Tours /Church Retreats /Local Sightseeing Tours /Coach Charter Tel: 6737 1811 Email: sales@budget-tours.com.sg 51 Cuppage Road, #06-17, Singapore *****9
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  • SINGAPORE NEWS
    • 768 9  -  They launched Boron scheme to shore up firm’s finances post2008 crisis, he says PROFITABLE PLOTS CASE By PROSECUTORS GRACE LEONG PROSECUTORS yesterday accused three directors of Profitable Plots of hatching an investment scam involving a fuel additive Boron that duped Singapore investors of more
      PHOTO: LIM SIN THAI/THE STRAITS TIMES  -  768 words
    • 413 9  -  By BENJAMIN AW TO COPE with a projected increase in rainfall, the Public Utilities Board (PUB) announced yesterday revisions to its code of practice on surface water drainage. Under the revised code, which will take effect from June 1, 2013, all industrial,
      Source: PUB  -  413 words
    • 482 9  -  Costs, labour issues, access to funding weigh on profits By FELDA CHAY SMALL and medium-sized enterprises (SMEs) expect business outlook to brighten in the second and third quarters of this year as global economic conditions improve, but do not think this
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    • 478 9  -  New infrastructure, unique experiences needed to make Singapore attractive By NISHA RAMCHANDANI THE Singapore Tourism Board (STB) has outlined its medium-term game plan as the industry embarks on a new phase of growth that focuses on quality tourism. At the 2013 Tourism Industry
      478 words
    • 465 9  -  Firm says there’re no retrenchments, only resignations By SIOW LI SEN ABOUT 20 people have left Maybank Kim Eng Singapore following last month’s bonus payout. A source said the brokerage retrenched as many as 20 staff members, including central dealers and some
      465 words
    • 276 9 OCBC Bank is offering a personal financial management tool for online and mobile banking, OCBC Money Insights, to help consumers track their expenditure, set budgets, and better manage cash flow. The new online banking tool allows consumers to monitor spending patterns by automatically splitting
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  • SME Inc
    • 1164 10  -  Profitable since day one, Ascent Solutions has seen more than 100 per cent growth in its second year, reportsJASLENE JASLENE PANG AS markets become more globalised and transcend boundaries, cargo owners are also becoming increasingly concerned with security issues, says Lim Chee Kean, Ascent Solutions’ CEO.
      PHOTO: ASCENT SOLUTIONS  -  1,164 words
    • EMERGING ENTERPRISE
      • 1274 11  -  Aside from expanding their markets, these enterprises are also attracted by cheaper labour and available land. BY ANDREA SOH SMALL firms are setting their sights on overseas markets and not just to have new places to sell to. Driven by plentiful land and cheaper labour, they
        PHOTO: YEN MENG JIIN  -  1,274 words
    • 1109 12  -  Organisations should be prepared, but the challenge lies in the application of the seemingly simple rules THE VIEW FROM NTU PROFESSORS By HANNAH LIM YEE FEN The writer is associate professor of business law at Nanyang Business School, specialising in the areas of Internet and technology
      PHOTO: REUTERS  -  1,109 words
  • Page 10 Advertisements
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    • 78 10 HAVE an interesting story on an SME to share? Drop us a note on why you think the company should be featured in our weekly SME INC pages, with details such as how the company has grown and its expansion plans. Send your e-mail to Felda Chay at feldac@sph.com.sg with
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  • Page 11 Advertisements
    • 242 11 The Emerging Enterprise 2013 Award is open for nominations Over S$1.4 million worth of prizes to be won. Apply now before 8 May 2013. For a copy of the application form, email enterprise-banking@ocbc.com or leeyyd@sph.com.sg Terms and conditions apply. Jointly Presented by: Official Auditor: Supported by: Innovation Partner: Preferred Payment
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  • Page 12 Advertisements
    • 624 12 Attain All-Round Sales Performance Excellence Who should attend: Sales Business Development Managers; Business Consultants: Senior and Middle Management; Account, Sales Marketing Executives and Managers Productivity and Novation Credit fP/Q Claimable 2013 APRIL SERIES FULL-DAY WORKSHOPS Easy Marketing Tactics to Generate Sales Leads Promotion or marketing is viewed as an expensive
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  • PRODUCTIVITY MATTERS
    • 3777 13 THE National Productivity and Continuing Education Council (NPCEC)’s Communications Work Group (CWG) has been working with The Business Times (BT) on a series of productivity editorials since last year. As part of this engagement, the work group and BT are organising networking sessions to reach
      3,777 words

  • MALAYSIA/INDONESIA
    • 537 14  -  They hobble major buyouts, insisting on a fairer price before they sell their shares By PAULINE NG IT is not just Malaysia’s politics that is heating up. Activism is on the rise in its corporate circles as well. Last week, sufficient numbers of minority
      PHOTO: AFP  -  537 words
    • 299 14 Demand from the middle class has attracted firms to boost investments Bloomberg [JAKARTA] Indonesia’s investment rose last quarter as more companies boosted or started operations in South-east Asia’s largest economy. Investment climbed 30.6 per cent to 93 trillion rupiah (S$11.87 billion) in the three
      Bloomberg  -  299 words
    • 351 14 Reuters [JAKARTA] Indonesia’s acting finance minister said yesterday after being sworn in that he wants to cut hefty government fuel subsidies and avoid deepening the fiscal deficits in South-east Asia’s largest economy. Chief Economic Minister Hatta Rajasa was given the additional role by President
      Reuters  -  351 words
  • Page 14 Advertisements
    • 286 14 STPROPERTY WORKSHOP §PLD OUT! With all the challenges that come from the ageing population come 2030, what are some possible population and housing matters that may arise? This workshop will examine the adequacy of housing for the new population regime as well as industrial-zoned space for SMEs in Singapore. WHO
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  • GREATER CHINA/INDIA
    • 346 15 Armed commandos to be deployed after he received threats Reuters [NEW DELHI] The Indian government has agreed to provide billionaire Mukesh Ambani with top-level security cover following threats to his life, a government spokesman said yesterday. The country’s richest man, who controls the Reliance
      Reuters; PHOTO: AFP  -  346 words
    • 548 15  -  The latest quake will not have much impact on GDP growth: economist By JEFF PAO [HONG KONG] The 7.0-mag-nitude earthquake, which left a wide swath of destruction in Ya’an city in the southwestern province of Sichuan on Saturday, will probably trigger more
      PHOTO: AFP  -  548 words
    • 352 15 Bloomberg [NEW DELHI] India, the world’s sec-ond-most populous nation, is doubling spending on water management to a record as conglomerates from the Tatas to Adani face shortages that the United Nations calls an impending crisis. The federal and state governments have set aside 1.1
      Bloomberg  -  352 words
  • Page 15 Advertisements
    • 654 15 RICKMERS MARITIME Registration Number: *****03 (Constituted under the laws of Singapore) Managed by Rickmers Trust Management Pte. Ltd. NOTICE OF BOOKS CLOSURE DISTRIBUTION PAYMENT DATE NOTICE IS HEREBY GIVEN that the Transfer Books and Register of Unitholders of Rickmers Maritime will be closed at 5.00 p.m. on 10 May 2013
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    • 123 15 A BANK Imagine a bank where your interests really do come first. Imagine a bank without risky sovereign debt or toxic assets on its balance sheet. Imagine a bank whose owners have steered a course through over 40 financial crises. Imagine a bank that’s been looking forward for seven generations.
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  • ECONOMY WATCH
    • 585 16 Ministry says range of data points to momentum picking up over rest of year Reuters [BERLIN] Germany’s economy stabilised in the first quarter, after contracting late last year, the finance ministry said yesterday, though consumption, which is expected to drive growth this
      – Reuters; PHOTO: BLOOMBERG  -  585 words
    • 242 16 Reuters [LONDON] Britons’ finances deteriorated in April at a faster pace than in March as incomes fell and living costs rose, and households expected the squeeze to continue, reducing their ability to spend and support the economy. Survey compiler Markit said yesterday that its
      Reuters  -  242 words
    • 459 16 Move comes amid rising supply in producing countries Reuters [BANGKOK] Thailand has postponed indefinitely a tender to sell up to half-a-mil-lion tonnes of rice from bulging stockpiles as it tries to avoid low prices against the backdrop of rising world supplies, a
      Reuters  -  459 words
  • Page 16 Advertisements
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  • WORLD
    • 713 17 Prices climbed, reflecting more demand for higher-priced houses LATEST US DATA Bloomberg [WASHINGTON] Sales of previously owned US homes unexpectedly dropped last month, showing uneven progress in the industry. Purchases of previously owned houses, tabulated when a contract closes, fell 0.6 per
      Bloomberg; PHOTO: BLOOMBERG  -  713 words
    • 351 17 Reuters [LONDON] Luxembourg will support Britain’s legal challenge to Europe’s proposed Financial Transaction Tax (FTT), the country’s finance minister, Luc Frieden, said yesterday. As Europe’s largest financial centre, London has the most to lose if finance firms move their trading operations to parts of the
      Reuters  -  351 words
    • 506 17  -  Indonesia, China, and India have most confident outlook By MALMINDERJIT SINGH [SINGAPORE] More than one in three consumers across 24 countries are upbeat about the state of their home economies, with those in the Asia-Pacific more optimistic than their counterparts in western Europe. In
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    • 430 17 AFP [LUXEMBOURG] European Union (EU) foreign ministers agreed yesterday to lift the last of the bloc’s trade, economic, and individual sanctions against Myanmar, hailing “a new chapter” with the once pariah state. “In response to the changes that have taken place and in
      AFP  -  430 words
    • 398 17 Spending on smart technology to grow to US$18.1b in 2017 WP [WASHINGTON] Employees at the National Institutes of Health (NIH) are expected to set their computers on standby when they leave work at the end of each day. If they don’t, a
      WP  -  398 words
    • 738 18 Tharman: New framework needed for policy mix that won’t risk bubbles Reuters [WASHINGTON] More than three years after the end of the global recession, sluggish activity across rich and poor economies is confounding policymakers who expected more by now and raising concerns that options for
      Reuters  -  738 words
    • 752 18 This follows global equities’ fall, rise in US consumer stocks Bloomberg [NEW YORK] The combination of this month’s retreat in global equities and gains by US consumer stocks has made American companies the five biggest in the world for the first time
      Bloomberg; PHOTOS: REUTERS, AP  -  752 words
    • 350 18  -  REUTERS BREAKINGVIEWS By PETER THAL LARSEN [HONG KONG] Steve Schwarzman is giving something back to China. The Blackstone founder is contributing his name, and US$100 million of his private wealth, to kick-start a scholarship programme at Beijing’s Tsinghua University. The programme may not be entirely
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    • 558 18 NYT [NEW YORK] The Minerva Project, a San Francisco venture with lofty but untested plans to redefine higher education, said yesterday that starting next year it would award an annual US$500,000 prize to a faculty member at any institution in the world who has
      NYT  -  558 words
    • 791 19 Many stores have traded in their cash registers for tablets, iPads NYT [SEATTLE] The humble cash register, a device that seems sprung from the imagination of an accountant, has become the darling of designers, adding a dash of style to the most ordinary daily
      NYT; PHOTO: AP  -  791 words
    • 992 20 Central banks divided on whether metal is cheap enough to buy Bloomberg [NEW YORK] Hedge funds increased bets on gold rallying after prices plunged the most in 33 years, underscoring billionaire John Paulson’s view that bullion will rebound. Fund managers and
      Bloomberg; PHOTO: BLOOMBERG  -  992 words
    • 409 20 Underlying growth is still robust at 6.1%, study shows Reuters [LONDON] UK corporate dividends fell sharply in the first quarter of 2013 when compared with the large one-off payouts seen a year ago, although underlying growth was still solid, a study
      Reuters  -  409 words
    • 393 20 NYT [NEW YORK] A new cop is poised to join the Wall Street beat as the US Securities and Exchange Commission prepares to change the leadership of its enforcement unit. Mary Jo White, who took over the SEC as chairman this
      NYT  -  393 words
    • 1041 20 Unstable market for carbon credits due to oversupply, politics NYT [LONDON] On a showery afternoon last week in West London, a ripple of enthusiasm went through the trading floor of CF Partners, a privately owned financial company. The price of carbon
      NYT; PHOTO: REUTERS  -  1,041 words
    • 193 20 Reuters [BERLIN] Germany’s financial regulator will take a closer look at offshore business being conducted by German banks, Sueddeutsche Zeitung newspaper said in an advance copy of an article due to be published this week. “We will launch a study that will look at
      Reuters  -  193 words
    • 492 21 E&Y study shows 51% see economy improving but only 29% expect to make a deal AP [LONDON] Companies around the world are still reluctant to go on the acquisition trail even though they are becoming more confident about the global economy, according to an
      AP  -  492 words
    • 864 21 Gap is largest in EU, making Rajoy’s task more challenging Bloomb erg [MADRID] Spain’s budget deficit was the largest in the European Union last year, underlining the challenge faced by Prime Minister Mariano Rajoy as he is due to present a new plan
      Bloomberg; PHOTO: REUTERS  -  864 words
    • 765 21 It aims to shift some blame to Halliburton and Transocean Reuters [NEW ORLEANS] BP plc’s attempt to get a US federal court to pin at least a sizeable amount of the blame for the Deepwater Horizon disaster on other companies may have
      Reuters  -  765 words
    • 332 21 A bid could come as early as this week: source Reuters [BANGKOK] Chain store operator CP All, controlled by Thailand’s richest man Dhanin Chearavanont, is weighing a takeover of wholesaler Siam Makro Pcl which has a market value of US$5.7 billion, people
      Reuters  -  332 words
    • 388 21 Re uters [SYDNEY] China’s Citic Pacific is delaying completion of its US$8 billion Sino Iron project in Australia until late May because of engineering problems, the latest in a series of setbacks to plague China’s single-larg-est foreign mining investment. Sino Iron had
      Reuters  -  388 words
    • 967 22 Goldman Sachs sees no increase in interest rate before January 2016 Bloom berg [NEW YORK] Wall Street’s biggest bond dealers see little chance the Federal Reserve will slow the pace of debt purchases designed to boost economic growth before year-end, even
      Bloomberg; PHOTO: BLOOMBERG  -  967 words
    • 570 22 Reuters [SYDNEY] A radical decision by ratings agency Standard Poor’s (S&P) to turn A$3.6 billion (S$4.6 billion) of equity into debt could see Australian firms shun once-popular hybrid securities and seek refuge in far simpler forms of debt such as retail bonds.
      Reuters  -  570 words
    • 463 22 Bloomberg [PARIS] Hermes International SCA, the French maker of Kelly handbags and silk scarves, said first quarter revenue rose 10 per cent as demand increased in all regions, led by Asia. Revenue climbed to 856.8 million euros (S$1.38 billion), Paris-based Hermes said
      Bloomberg; PHOTO: REUTERS  -  463 words
    • 424 22 AP [NEW YORK] Washington’s budget tightening is having a minimal effect on businesses, a survey of business economists released yesterday shows. The National Association for Business Economics (NABE) survey asks how higher taxes and lower government spending effected businesses in the first
      AP  -  424 words
    • 337 22 They will suffer 27.5% haircut, says central bank after review AFP [NICOSIA] Charities, private schools and insurance firms with deposits in the troubled Bank of Cyprus will suffer a 27.5 per cent haircut under the island’s EU bailout, the central bank said.
      AFP  -  337 words
  • Page 17 Advertisements
    • 827 17 WATS NOTICES In the Matter of The Companies Act Cap. 50 and In the Matter of EAST PRIVATE LIMITED Company Registration No. *****3387M (In Members’ Voluntary Liquidation) At an Extraordinary General Meeting of the abovenamed Company duly convened and held at Hotel Royal, Level 3 Royal Room 2, 36 Newton
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  • Page 18 Advertisements
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  • Page 19 Advertisements
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  • AVIATION/SHIPPING
    • 612 23 Trade union Verdi asks for a 5.2% pay rise and job guarantees Reuters [FRANKFURT] Lufthansa was virtually grounded yesterday, Germany’s largest airline cancelling nearly all of its flights because of a second strike in a month over workers’ pay. Lufthansa scrapped 1,700
      Reuters; PHOTO: REUTERS  -  612 words
    • 478 23 Workers, families protest outside Li Ka-shing’s mansion Bloomb erg [HONG KONG] Li Ka-shing’s Hong Kong port operator and striking workers published advertisements yesterday in an attempt to win public support as a strike over wages extends to almost four
      Bloomberg  -  478 words
    • 291 23 Reuters [TOKYO] Boeing Co yesterday began installing reinforced lithium ion batteries on five grounded 787 jets owned by launch customer All Nippon Airways (ANA), starting a process that should make the first commercial Dreamliners ready to fly again in about a week. Teams of Boeing
      Reuters  -  291 words
    • 642 23 AP [LAGOS, Nigeria] The piracy targeting the coast of West Africa takes root in the oil-slicked creeks of Nigeria’s southern delta, where militants steal millions of dollars of crude with the apparent help of security agencies, experts said on Saturday. While the
      AP  -  642 words
    • 547 23 Bloomberg [SYDNEY] Qantas Airways Ltd’s debt risk dropped to a 20-month low as lingerie model Miranda Kerr and actor John Travolta helped the carrier celebrate its global tie-up with Emirates and revamp a brand tarnished by safety concerns and labour disputes. The price to
      Bloomberg; PHOTO: AP  -  547 words
    • 238 23 SGX '000 Apri 22 S$ +/-Vol CH Offshore 0.47 -0.01 39 Chuan Hup Hldg 0.27 -0.01 316 Cosco Corp 0.89 -0.01 945 S$ Ezra Hldgs 0.99 -0.02 3205 First Ship Lea Freight Links Grand Banks.............unch unch 0 Jaya Hold Ltd 0.64 -0.01 76 K1Ventures 0.16 unch 1745 Keppel
      238 words
  • Page 23 Miscellaneous
    • 343 23 CRYPTIC CROSSWORD Across 1 Plague doctor in case (6) 4 One invested in different aspects showing literary style (8) 10 A new ice bar is planned, stocking nothing without oxygen (9) 11 The blood flowing through divine harpsichordists’ heart? (5) 12 What a guy needs for security? (4,3) 13 Walk
      343 words

  • EDITORIAL & OPINION
    • 473 24 EDITORIAL BOTH Malaysia’s ruling Barisan Nasional coalition and the opposition alliance Pakatan Rakyat seem to have decided not to be outpledged by the other side, as if election promises have anything to do with winning office. For the 56 years since independence, the incumbent Barisan
      473 words
    • 860 24  -  THE BOTTOM LINE DAVID MASON The writer, who was a Price Waterhouse S’pore partner for 18 years, is a business communications consultant in the UK who spends several months a year in Singapore TURKS must be trying hard not to grin these days.
      860 words
    • 987 24  -  It’s an example of what makes emerging Asia an exciting investment destination By MARK MOBIUS The writer is a leading emerging markets fund manager UR emerging markets team isn’t too keen on following crowds. Part and parcel of Templetons’ contrarian approach is travelling to
      PHOTO: ISKANDAR WATERFRONT HOLDINGS; Source: Factset, Sept 30, 2012; Source: UN World Population database, Dec 2010  -  987 words
    • 1225 25  -  Incident unlikely to result in dramatic decisions on government policy in the form of regime change or nation building LEON HADAR Washington Correspondent AFTER it was reported last Friday night that Dzhokhar Tsarnaev, one of the two alleged perpetrators behind the April 15 terrorist act
      PHOTO: AFP  -  1,225 words
    • 964 25  -  WILLIAM PESEK The writer is a Bloomberg View columnist. The opinions expressed are his own Bloomberg FIVE years after the worst economic crisis since the Great Depression, developing nations confront a nasty pair of threats: an excruciatingly slow global recovery, and the tsunami of easy
      Bloomberg; PHOTO: REUTERS  -  964 words


  • 1453 26 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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  • Page 26 Advertisements
    • 79 26 Shipping lines! Canthey seeking reliable I I find your leqistks partners! I Shipping I Times? The Business Times TO ADVERTISE, CALL JOE WONG AT 9620 1327 PLACE YOUR AD HERE .The Business Times Shipping times CALL JOE WONG AT 9620 1327 PLACE YOUR AD HERE The Business Times Shippii g
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  • SINGAPORE STOCKS
    • 3412 27 Transaction date: Apr 22 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company Last Sale Vol Day Last Quote 11 7 AEM --AAT C'vr 174 106 AIMSAMPIReit 170cd +0.5 2745 171.5 170
      3,412 words
    • 227 28 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale ('000) High Low Buyer Seller C'vr P/E Smil 3.3
      227 words
    • 10463 28 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Asset Mat Pte Ltd Aberdeen Asset Mgt Asia Limited 1.38/ APS Alpha Fund (USD)!** 1.12/ Aberdeen Asset Mgt Asia Limited Asian local (!cy SD Bond Global Emerging Markets!** 2.0224/ EM local Ccy Bond 1.0191/ European Opportunities'” 1 1435/ Global
      10,463 words
    • 249 28 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Low 48.5 30 Genting HK US$ US47.5 +3 ***** 48.5 44 47.5 48 3127.6 Last 260 181 TanChongInt HK248cd unch 48 248 247 247 248 4.3 2.8
      249 words
    • 893 28 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Low 136.8 120.4 CIMB APAC Div 100S$D 135 135.7 136.6 111.7 95.8 CIMB APAC Div 100US$ US109.2 1000 109.4 110.3 11.5 1421 1246 CIMBASEAN40 100S$D 1421
      893 words


  • FINANCE & COMMODITIES
    • 650 29 Apr 22 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.17 *****.58 *****.44 Jun13 *****.00 *****.00 *****.00 *****.00 *****5 *****3 Sep13 *****.00 *****.00 *****.00 *****.00 12 4095 MSCI TAIWAN INDEX FUTURES SPOT 285.52 288.55 285.52 Apr13 287.40 289.90 286.50 286.80 ***** *****2 May13 287.00
      650 words
    • 373 29 In local curr In S$ In US$ dy yr dy yr dy yr Apr 19 Index Change Change Change Change Change Change World Preliminary 1017.7 0.7 8.5 0.6 7.5 0.5 6.2 EAFE Preliminary 845.9 0.5 9.2 0.3 5.5 0.2 4.2 Europe Preliminary 1189.9 0.6 3.7
      373 words
    • 471 29 Apr 22 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.052 6.339 0.786 7.961 55.566 99.618 1.022 11.473 3.126 1.218 100.859 42.265 1.272 9.539 0.958 30.585 29.463 0.673 1.025 Canada 0.950 6.023
      471 words
    • 64 29 Apr 22 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 0.***** 3 mths 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths 0.***** SWAP Mid
      64 words
    • 139 29 Apr 22 GOLD(US$/oz) Apr 22 Apr 19 Hong Kong 1430.00 1427.00 Apr 19 Apr 18 London 1403.05 1396.11 1404.05 1396.88 Source: Thomson Reuters CAST BAR Apr 22 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 127 56 5gm 362 282 10gm 646 565
      139 words
    • 90 29 Apr 22 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****A 26-Jul-13 0.24 6-Month BS*****W 18-Oct-13 0.25 1-Year BY*****X 01-Nov-13 0.26 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 5-Year N*****0T 2.375 01-Apr-17 100.01
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    • 57 29 Apr 22 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 13 2265.0 2245.0 2267.0 2244.0 274 3399 Jun 13 2265.0 2252.0 2278.0 2249.0 1697 ***** Jul 13 2266.0 2255.0 2282.0 2250.0 ***** ***** Aug 13 2268.0 2257.0
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    • 155 29 Apr 22 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2718 1.2726 1.0251 1.0256 Canadian dollar 1.2084 1.2091 0.9745 0.9740 Euro 1.6177 1.6183 1.3039 1.3042 NZ dollar 1.0438 1.0445 0.8413 0.8418 Sterling pound 1.8888 1.8896 1.5224 1.5229
      155 words
    • 108 29 Apr 19 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low May 13 1428.25 1430.50 1441.00 1422.00 Jul 13 1382.50 1390.00 1400.50 1380.00 Aug 13 1328.50 1339.00 1346.00 1326.25 Sep 13 1258.25 1268.25 1274.00 1256.25 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low May 13
      108 words
    • 94 29 Apr 19 COCOA (£/tonne) Close Prev High Low May 13 1558 1546 1560 1546 Jul 13 1555 1543 1558 1543 Sep 13 1559 1546 1562 1546 Dec 13 1559 1548 1562 1547 COFFEE(US$/tonne) Close Prev High Low May 13 2056 2043 2067 2030 Jul 13 2091 2084 2101 2067
      94 words
    • 995 29 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Albedo Limited W*****9 Conv AlliedTech W*****2 Exer Ascendas REIT.ES.1304 Prem Asiatravel.com HoldingsW*****7 1 1 25 15 Asiatravel.com HoldingsW*****5 1.3 1 27 39 GearBest World Intl Ltd W*****5 0.4 1 30 32
      995 words
    • 70 29 CRUDE OIL PRODUCTS Apr 19 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 99.45 0.53 WTI (Near Mth) 87.90 -0.45 Dubai (1-Mth F) 97.44 0.37 Tapis blend 103.66 -0.13 Minas 98.66 0.77 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 90.72 0.89 Jet Kerosene 111.95 1.62 US$/barrel OpecOil Basket
      70 words
    • 22 29 Apr 22 S$ Bid Offer 1-month 1.2407 1.2408 2-months 1.2406 1.2408 3-months 1.2406 1.2409 6-months 1.2403 1.2411 Source: OCBC
      22 words
    • 67 29 Apr 19 Apr 19 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1859.75 1884.75 3 months 1887.00 1911.50 Copper, Grade A(US$/tonne) Cash 6961.00 7061.00 3 months 6990.00 7088.00 Lead(US$/tonne) Cash 1998.25 1991.00 3 months 2020.00 2013.50 Nickel (US$/tonne) Cash *****.00 *****.50 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00
      67 words
    • 121 29 As at 9am Apr 22 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.300 1.239 Can dollar 1.234 1.176 Euro 1.654 1.576 Sterling pound 1.919 1.846 NZ dollar 1.074 1.014 US dollar 1.262 1.202 Local dollars to 100 units of foreign
      121 words
    • 158 29 Apr 22 $S Offer Bid 0vernight 0.03 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.01 US$ Offer Bid 7 days 0.22 0.12 1 month 0.28 0.18 2 months 0.40 0.20 3 months 0.45 0.25 6 months 0.60 0.40 9 months 0.75 0.55 12
      158 words

  • PROPERTY
    • 589 30 Four Chinese developers price bonds from 6.85% to 11.25%; more new issues likely to follow IFR [HONG KONG] Four Chinese property developers priced offshore renminbi bonds last week in a sign that the global hunger for high-yield investments is spilling over into the
      IFR  -  589 words
    • 1370 30 Prices climb 10% in the 12 months through February Bloomberg [NEW YORK] Donald R Mullen Jr, who helped Goldman Sachs Group Inc profit from the US housing crash, is giving the firm and its clients a way to gain from the recovery.
      Bloomberg; PHOTO: AP  -  1,370 words
    • 1185 31 Changing from a standard corporation to a trust becomes hot corporate trend NYT [NEW YORK] A small but growing number of US corporations, operating in businesses as diverse as private prisons, billboards and casinos, are making an aggressive move to reduce or
      NYT; PHOTO: BLOOMBERG  -  1,185 words
    • 917 32  -  Incentives given in delicensed projects may not be captured in current data NEWS ANALYSIS By KALPANA RASHIWALA DESPITE the recent amendments to the Housing Developers (Control and Licensing) Act, units sold by developers in projects which have been delicensed will continue
      917 words
    • 400 32  -  By FELDA CHAY MANOHAR Khiatani, the CEO of JTC Corporation, is to take over the seat left vacant by Chong Siak Ching, as president and CEO of Ascendas. Mr Khiatani sits on the Ascendas board as a director. He will move to head the
      400 words
    • 291 32 Bloomberg [HONG KONG] Hong Kong home prices will fall as much as 25 per cent after the government stepped up measures to curb an asset bubble and as banks raised mortgage rates, according to Sanford C Bernstein H
      Bloomberg  -  291 words
    • 382 32  -  But KnightFrank expects subsequent rental increases to be marginal By GRACE NG DESPITE office rents remaining soft in Q1 2013, Knight Frank expects the office leasing market to bottom out late this year. “The office leasing sector is likely to bottom out
      382 words
    • 327 32  -  By NG ZHUO YANG TWIN Fountains, the first executive condominium (EC) launched in Woodlands since 2005, pulled in 963 e-applications for its 418 units by the close of the application process on Sunday evening. This made the development by Frasers Centrepoint and Lum Chang 2.3
      327 words
    • 506 32 Bloomberg [TOKYO] Builders of Tokyo Skytree, the 65 billion yen (S$875 million) broadcast tower almost double the height of the Empire State Building, say they aim to make their mark on more than just the Japanese metropolis’ skyline. A combination of heat pumps
      Bloomberg  -  506 words
  • Page 30 Advertisements
    • 199 30 \Vs S.\ Nss > /si NS> N N X > >S 1 Si 1 Lii SOUTHBANK UNITS FOR SALE Rare offering of 28 commercial SOHO units Riverfront location along North Bridge Road CBD fringe 2 minutes walk to Lavendar MRT station Rejuvenating location surrounded by Upgraded Rochor Canal, future Kallang
      199 words
    • 224 30 6 Hectare B2 Industrial Site For Sale Joo Koon AYER RAJAH EXPRESSWAY GUL CIRCLE SUBJECT SITE GUL CIRCLE PIONEER RD 1 Gul Avenue 3 Gul Circle Total Site Area: approx. 639,453.72 sq ft Total GFA: approx. 527,417.70 sq ft Tenure: 1 Gul Avenue 24 years (wef 16 Dec 2001) 3
      224 words
    • 26 30 FOR SALE LEASE PRIME SPACE ORCHID HOTEL Retail shops/office/2nd floor Near Tanjong Pagar MRT High visibility/traffic •2,217/5,468 sq ft Contact 9090 2222 Orchid Hotel Pte Ltd
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  • Page 31 Advertisements
    • 362 31 nf Bsrai5SB*|r' B'teFnsisnm M I lUMKIllluLllll w. m niiimaHi a r ■jj I V. w Ip tii'h? IT''"ftii*i ,i Bank O Singapon Embassy DUNANT ROAD R I o o The Royal Thai Police Headquarters Royal Bangkok Sports Club o LentralWorld Plaza O Australian 'Z' Embassy A M R i 18c
      362 words