The Business Times, 18 May 2013

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Microfilm: NL32576
Total Pages: 49
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    20 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g MAY 18-19, 2013 S$1.00 MICA (P) 075/08/2012 Sffll A SINGAPORE PRESS HOLDINGS PUBLICATION
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  • Article
    Lock icon Exports down 1% in April
    31 1 TRICKY TIME THE fall in Singapore’s non-oil domestic exports isn’t as bad as feared, but the rise from the March figure is also below expectations. 2
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  • Article
    Lock icon Power savings project takes off
    39 1 COST CUTTING SIEMENS and an electricity wholesaler here are on a pilot project that essentially allows big consumers to reduce or shift their power usage during peak demand periods in exchange for payments. 4
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  • Article
    Lock icon Imminent yuan reforms expected
    30 1 HOT MONEY THAT’S because China has allowed its currency to appreciate in inflation-adjusted trade-weighted terms for seven months to April, making its exports less competitive. 6
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  • Article
    Lock icon No secret Huawei deal: IME
    35 1 TODD INQUIRY PATRICK Lo, deputy executive director of research at the Institute of Microelectronics, says that Shane Todd was never asked to compromise the national security of any nation. 7
    35 words
  • Article
    Lock icon New proposals on lease accounting under fire
    796 1  -  Some say they are a compromise, while others feel they will raise costs for firms By Michelle Quah michquah@sph.com.sg Singapore LATEST proposals to change one of the world’s most complex and controversial accounting rules have attracted criticism for being seen as a compromise
    796 words
  • Article, Illustration
    Lock icon Asia on their mind as cruise lines set new course
    955 1  -  By Lynn Kan lynnkan@sph.com.sg Singapore CHAR kway teow was probably not on the menu when the cruise ship Sun Viking dropped anchor in Singapore in 1995. After all, the more than 700 passengers who came on shore were European and
    PHOTO: PRINCESS CRUISES; Source: Cruise Market Watch  -  955 words
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      37 1 THE the HEAD DEPARTMENT WEALTH Bullish on US, emerging market equities| 30-31 MOTORING The hot VW Golf GTI L18 the raffles conversation HEAD OF THE IMF’S ASIAN DEPARTMENT ANOOP SINGH 10-11 LIVING Independent boutique hotel owners L2-4
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  • TOP STORIES
    • Article, Illustration
      Lock icon A tricky phase for Singapore exports
      699 2  -  April NODX sags only 1% year-on-year but rises just 1.1% from March By Chuang Peck Ming peckming@sph.com.sg Singapore THE fall wasn’t as bad as feared, but the rise was also below expectations. Compared to a year ago, Singapore’s non-oil domestic exports (NODX) dipped one
      Source: IE Singapore  -  699 words
    • MARKETS
      • Article
        Lock icon STOCKS
        58 2 HSTI 3,449.30 (-2.98) HSTI FUTURES 3,449.00 (-3.00) GSIMSCI 388.84 (+0.24) ESIMSCI FUTURES 389.00 STOCKS Friday Change KL COMP 1,769.16 +2.44 NIKKEI 225 15,138.12 +100.88 HANG SENG 23,082.68 +38.44 SET 1,627.96 +10.07 JAKARTA 5,145.68 +67.00 MANILA 7,279.87 -31.07 KOSPI 1,986.81 +15.55 SHENZHEN B 864.17 +4.25 MUMBAI IND 20,286.12 +38.79 12noon
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.186 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$) 1.256 (US$/S$ per 1.525 1.915 EURO(US$/S$/€ 1.288 1.618 Foreign currency per US$ S$ YEN 102.50 81.60 RM 3.021 2.405 HK$ 7.764 6.181 BAHT 29.85 23.76 RUPIAH 9,763 7,772 RENMINBI 6.140 4.888 INDIAN RUPEE 54.93 43.73 A$ 1.026 0.817 NZ$ 1.232 0.981
        48 words
    • Article
      Lock icon Pilot project launched to cut power bill
      476 4  -  Electricity Demand Response by Siemens and Diamond Energy will help buildings lower operating costs By Ronnie Lim ronnie@sph.com.sg Singapore A PILOT project on electricity Demand Response (DR) which essentially allows big consumers to reduce or shift their power usage during peak demand periods
      476 words
    • Article, Illustration
      Lock icon Bullish Abe to reveal his grand plan
      629 6  -  He will be ‘top salesman’ for infrastructure exports, make Japan No 1 global player By Anthony Rowley btworld@sph.com.sg Tokyo JAPANESE Prime Minister Shinzo Abe lifted a further corner of the veil on the so-called “Abenomics” yesterday, promising in a policy speech to triple
      PHOTO: REUTERS  -  629 words
    • Article, Illustration
      Lock icon Yuan’s puzzling rise signals imminent reforms
      627 6 Reuters Shanghai BEIJING’S tolerance for the yuan’s massive rally against the US dollar over the last six weeks has mystified many market observers, but some traders in the domestic forex market believe the anomaly is a harbinger of a new wave of currency reforms.
      Reuters; PHOTO: REUTERS  -  627 words
    • Article
      Lock icon Senior exec: IME is an economic agency
      743 7  -  Deputy exec director of research also says Todd not asked to compromise any country’s national security SHANE TODD INQUIRY By Nisha Ramchandani nishar@sph.com.sg Singapore THE Institute of Microelectronics (IME) does not have a classified military-related project with China’s Huawei. Neither was American Shane
      743 words
    • Article
      Lock icon UMW plans energy unit IPO
      240 7 Reuters Kuala Lumpur UMW Holdings, Malaysia’s industrial-to-automotive conglomerate, is planning to sell 39 per cent of its oil and gas unit in an initial public offering, a deal that some bankers say could raise up to US$1 billion. The listing comes amid a pick-up in
      Reuters  -  240 words
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      80 2 CONTENTS NEWS Top Stories 2-7 Week In Review 8 Raffles Conversation 10-11 Companies 12-15 From the Desk of 16 Singapore 17-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-35 Show Me The Money 33 Househunt 34 LIVING Design L2-4 Dining L5-7 Gadgets L8 Style L9 Home Garden L10-11 Travel
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      213 3 watches o Of Switzerland 36' Momentous Years Watches of Switzerland celebrates 36 years of handcrafted legacy. With deepest gratitude for your valued support, we present the perfect moment to own that luxurious time piece. CITIBANK Q% INTEREST EQUAL PAYMENT PLAN Choose to purchase your exquisite timepieces over 36 months, at
      213 words
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      88 4 STAMFORD CELLARS The ultimate WINE CELLARAGE Located in Asia’s only ultra-high security freeport dedicated to the storage of fine art and high value collectibles, Stamford Cellars at The Singapore FreePort is committed to absolute standards and highest level of confidentiality. Stamford Cellars the ultimate wine cellarage for wine collectors. For
      88 words
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      94 5 HOME LOAN COMPARISON CALCULATOR Use our Home Loan Wizard to compare the latest home loan rates and packages across all banks in Singapore! www.stproperty.sg/property-tool HOME LOAN COMPARISON CALCULATOR The Home Loan Comparison Calculator helps you calculate your monthly payments and compare the latest home loan packages From all banks in
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      743 7 INDIABULLS PROPERTIES INVESTMENT TRUST (a Business Trust constituted on 7 May 2008 under the laws of the Republic of Singapore) Managed by Indiabulls Property Management Trustee Pte. Ltd. (as Trustee-Manager of Indiabulls Properties Investment Trust) NOTICE OF BOOKS CLOSURE DISTRIBUTION PAYMENT DATE NOTICE IS HEREBY GIVEN that the Transfer Books
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  • WEEK IN REVIEW
    • THIS WEEK May 13-17, 2013
      • Article
        Lock icon Reits alone not to blame for retail woes
        37 8 REAL estate investment trusts (Reits) in the retail sector are often blamed for pushing up rentals and consumer prices, but market watchers say it’s not such a straightforward situation.
        37 words
      • Article
        Lock icon Read BT on more devices
        41 8 BT subscribers will be able to read the paper on more devices with Monday’s launch of the ePaper, which provides an easy way of reading an electronic facsimile of the paper in most current Web browsers.
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      • Article
        Lock icon Stocks smile in the land of the diving yen
        54 8 BUOYED by the currency’s continuing fall and the dramatically positive impact this is having on Japanese corporate profits and on share prices, the Nikkei 225 stock average climbed a further 1.2 per cent on Monday to reach its highest level since
        54 words
      • Article
        Lock icon TCs’ handover: MPs agree on need to review process
        39 8 MEMBERS of Parliament from both sides of the political divide agreed on Monday that the handing over of town councils (TCs) was a critical area that needs to be reviewed.
        39 words
      • Article
        Lock icon Taxman to get easier access to guarded data
        50 8 INCOME tax authorities will no longer need to get a court order to obtain client information from banks and trusts in Singapore. This will not only lift the veil further on banking secrecy, but will also help crack down on tax cheats.
        50 words
      • Article
        Lock icon Consumer boom drives Indonesia’s IPO rush
        46 8 INDONESIA’S consumer-led economic boom has triggered a flurry of initial public offerings as companies seize on investors eager for a slice of the action to help raise funds. The country’s IPO market is enjoying its busiest fiscal second quarter ever.
        46 words
      • Article
        Lock icon More COEs with higher car deregistrations?
        54 8 GOVERNMENT measures to curb car demand have not only deflated COE premiums but appear to have sped up deregistrations by encouraging the replacement of older cars. With more deregistrations, the next six-monthly quota for certificates of entitlement starting from August 2013 should be bigger
        54 words
      • Article
        Lock icon Small firms brace for Call Me Never on Jan 2
        40 8 THE National Do-Not-Call (DNC) registry will fling open its doors on Jan 2 next year, in a move that will weigh on small businesses and potentially cripple smaller telemarketing firms.
        40 words
      • Article
        Lock icon Oil giants on a slippery slope over price rigging
        37 8 THE motor industry, other European businesses, consumer groups and politicians reacted furiously to the possibility that companies in the US$1.5 trillion global oil market have been rigging prices.
        37 words
      • Article, Illustration
        Lock icon SingTel’s Q4 profit falls nearly one-third to $868m
        77 8 EVEN as SingTel’s fourth-quarter bottom line fell by almost a third over exceptional losses, the telco has big outlays in the pipeline. It has set aside $2 billion for its loss-making digital unit and bumped up its dividend payout range and final
        PHOTO: AFP  -  77 words
      • Article
        Lock icon Q1 GDP gain seems to vindicate Abenomics
        40 8 THE so-called “Abenomics” propelled Japan’s economy into high-growth mode in the first quarter of this year, sending real gross domestic product (GDP) up by a better-than-expected 0.9 per cent from the previous quarter.
        40 words
      • Article
        Lock icon Govt may refine COE categories A and B
        34 8 THE COE (certificate of entitlement) categories may be tweaked to ensure that Category A retains its original purpose of serving buy ers of smaller budget cars.
        34 words
      • Article
        Lock icon It’s official: China’s trade data not on the level
        43 8 DOUBTS about the integrity of Chi- nese trade data have been running high, but never before has the evidence been presented more clearly than in the form of an intervention by the central government.
        43 words
      • Article
        Lock icon Prosecution: Interest rates on investment manipulated
        37 8 CASTING doubt on the various “investments” made by City Harvest Church, the prosecution sought yesterday to show that certain members of the church manipulated interest rates purportedly earned off these investments.
        37 words
      • Article
        Lock icon Death consistent with hanging: pathologist
        53 8 AMERICAN Shane Todd’s autopsy showed his death was consistent with hanging, not garroting, a senior forensic pathologist told a coroner’s inquiry on Thursday a view that has been backed up by two US-based experts. But a medical examiner engaged by the Todd family believes that
        53 words
    • Article
      Lock icon NEXT WEEK May 20-24, ’13
      109 8 US DATA May 22 April existing home sales May 23 April new home sales May 24 April durable orders SINGAPORE DATA May 23 Q1 Gross Domestic Product April Index of Industrial Production April Consumer Price Index EVENTS May 21 Bank of Japan holds two-day policy
      109 words
  • Page 8 Miscellaneous
    • Miscellaneous
      Lock icon Page 8 Miscellaneous Column 1
      315 8 Across 1 Daughter is found out (10) 9 I return to a matter of little weight (4) 10 Snack for a boxer? (3,7) 11 Left in play (6) 12 Row about stray dog (7) 15 Well-built dam (7) 16 Sort of sober attire for a judge (5) 17 This monk
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    • Miscellaneous
      Lock icon Page 8 Miscellaneous Column 2
      16 8 SATURDAY with Ludwig Would the gentlemen please decide whether it is red wine or white wine
      16 words
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      208 9 CALL FOR PERFORMERS Step Right Up! Be part of ChildAid 2013 CarnivalEdition Young ladies gentlemen, step right up! If you think you can sing, dance, play a musical instrument or perform a circus act, come try out for our next ChildAid concert! Email your entry to childaid@sph.com.sg by June 8,
      208 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon The IMF’s point-man for Asia
      2310 10 / 11  -  The chief of the IMF’s Asian department Anoop Singh talks to Vikram Khanna about Asia’s resilience to Europe’s crisis, Abenomics, and what Asian countries should watch out for. Vikram Khanna vikram@sph.com.sg SIXTEEN years after the Asian financial crisis of 1997/98, the International Monetary Fund (IMF)
      YEN MENG JIIN  -  2,310 words
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  • COMPANIES
    • Article, Illustration
      Lock icon Tiger narrows Q4 loss, turns operating profit
      536 12  -  Group posts loss of $1 5.3m and operating profit of $1 2.7m in Q4 By Joyce Hooi joyceh@sph.com.sg Singapore TIGER Airways narrowed its fourth-quarter loss to $15.4 million from $16.4 million a year ago, as all signs pointed due north for a group
      PHOTO: AFP  -  536 words
    • Article
      Lock icon GuocoLand gets $900m orders for $200m perps
      487 12  -  By Siow Li Sen lisen@sph.com.sg Singapore PROPERTY developer GuocoLand has sold $200 million perpetuals, the first Singapore dollar perpetual deal this year. The sale received $900 million orders, more than four times the issue and allowed it to price at 4.7 per cent,
      487 words
    • Article
      Lock icon China Paper warns of further results reporting delays
      460 12  -  By Kenneth Lim kenlim@sph.com.sg Singapore INVESTORS hoping that China Paper Holdings will finally be able to release its 2012 full-year financial results next month will now have to brace themselves for a longer wait. The paper products manufacturer announced yesterday that the
      460 words
    • Article
      Lock icon Soilbuild seeks to raise $42m in IPO
      494 14  -  Offering comprises public offer of 2m shares and placement of 166m shares at 25 cents each By Mindy Tan tanmindy@sph.com.sg Singapore SOILBUILD Construction Group hopes to raise $42 million in gross proceeds from its initial public offering of 168 million new shares at
      494 words
    • Article, Illustration
      Lock icon nTan allowed to appoint Queen’s Counsel
      547 14  -  By Michelle Quah michquah@sph.com.sg Singapore THE High Court has agreed to let well-known dealmaker Nicky Tan appoint a Queen’s Counsel to argue his case against a Court of Appeal judgment, which related to insolvency work his firm had done for Singapore-listed TT International. Mr
      547 words
    • Article
      Lock icon MIIF trades lower in ex-entitlement pricing
      449 14  -  By Ong Chor Hao ongch@sph.com.sg Singapore SHARES in Macquarie International Infrastructure Fund (MIIF) fell 70 per cent yesterday, adjusting to an end in entitlement to units in the soon-to-be listed Asian Pay Television Trust (APTT). The counter closed 43.9 cents lower at 19.1 cents,
      449 words
    • Article, Illustration
      Lock icon Flat end to lacklustre week for STI
      560 15  -  STOCKS Kenneth Lim kenlim@sph.com.sg Correspondent THE local bourse ended on a lacklustre note yesterday, the culmination of a week of earn-ings-dominated but directionless trading. The broad Straits Times Index (STI) closed out the day practically flat at 3,449.3, lower by 0.09 per cent,
      560 words
    • Article
      Lock icon STI STOCKS
      109 15 Stock name Close Change CapMallsAsia 2.030 CapitaLand 3.750 -0.030 CapitaMall 2.290 -0.040 CityDev 11.030 +0.010 ComfortDelGro 2.090 DBS Grp 17.460 +0.180 GLP 2.980 +0.040 Genting SP 1.510 +0.010 Golden Agri 0.575 +0.005 HK Land 7.210 -0.050 HPH Trust US$ 0.825 JMH 67.620 -1.320 JSH 40.650 -0.350 Jardine C&C
      109 words
    • Article
      Lock icon China's State Grid buying stakes in two Singapore Power Int’l units
      535 15  -  By Lee Meixian leemx@sph.com.sg Singapore STATE Grid Corporation of China (SGCC), the nation’s largest power distributor, has agreed to pay Singapore Power International (SPI) A$824 million (S$1.01 billion) for a 19.9 per cent stake in Australia’s SP AusNet as
      535 words
    • Article
      Lock icon TOP 20 ACTIVES
      222 15 VOL CLOSE YHM 365 ,542 4 .2 0 .1 2 .4 GSH Corp R 299 ,310 1 .9 -0 .2 -9 .5 Transcu Grp 257 ,812 1 .4 0 .3 27 .3 A l bedo 1 29 ,788 1 .3 0 .1 8 .3 Innopac 1 29
      222 words
    • Article
      Lock icon TOP GAINERS
      64 15 TOP GAINERS BY CENTS CLOSE UP GLD 10US$ ***** 50.2 0.3 Hyflux 6% CPS 10 ***** 45.0 0.4 DBXT Nifty 10US$ ***** 32.7 0.2 DBXT CSI300 10US$ 811 28.9 2.9 Total Access 412 25.1 5.1 STXPO 100 410 20.0 5.1 DBS Grp 1746 18.0 1.0 Isetan 500 18.0
      64 words
    • Article
      Lock icon TOP LOSERS
      53 15 BY CENTS CLOSEDOWN JMH 6762 -165.7 -1.9 Jardine C&C 4579 -62.0 -1.3 SIA 1093 -52.0 -4.5 SIA 200 1093 -49.0 -4.3 DBXT STGLDv100 10US$ 3077 -45.2 -1.2 JSH 4065 -44.0 -0.9 MacqIntInfra 19.1 -43.9 -69.7 SIA.ES.1305 1099 -43.0 -3.8 DBXT MSPacExJp 10US$ 518 -25.1 -3.7 DBXT MSTHAI 10US$
      53 words
    • Business briefing
      • Article
        Lock icon Cordlife to buy overseas assets for A$5.5m
        51 15 CORDLIFE Group has entered into a conditional sale-and-purchase agreement with the Australian listed Cordlife Ltd (CBB)to acquire CBB’s cord blood and cord tissue banking businesses and assets in India, the Philippines, Hong Kong and Indonesia for an aggregate consideration of A$5.5 million (S$6.8
        51 words
      • Article
        Lock icon A-Reit in deal to sell Goldin Logistics Hub
        75 15 ASCENDAS Real Estate Investment Trust (A-Reit) has entered into an agreement with GKE Pte Ltd for the sale of Goldin Logistics Hub for $32 million. The sale price represents a 42.2 per cent premium over the original purchase price of $22.5 million
        75 words
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  • Page 13 Advertisements
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      Lock icon Page 13 Advertisements Column 1
      666 13 Subscribe Now! IPO doses at 12 noon, Wednesday 22 May 2013 to* SOIBUILD CONSTRUCTION GROUP LTD > OPPORTUNITY TO INVEST IN A1-GRADED CONSTRUCTION GROUP WITH 36-YEAR TRACK RECORD Construction, Design and Build, Turnkey and Project Management Services INVITATION 4 Invitation in respect of 168,000,000 New Shares comprising 2,000,000 Offer Shares
      666 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon The future is clean tech
      959 16  -  Companies have more to profit by switching to clean technologies that reduce waste, harmful emissions and costs FROM THE DESK OF Jake Layes Head of Sustainability and Clean Tech, Autodesk, Asia Pacific MANUFACTURING will continue to remain a key pillar of Singapore’s economy. The Economic
      959 words
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  • SINGAPORE
    • Article, Illustration
      Lock icon Toll Group opens $300m offshore supply base
      387 17  -  The 32-ha Loyang facility will serve companies in the marine, offshore and oil and gas industries By Andrea Soh sandrea@sph.com.sg AUSTRALIA-LISTED logistics provider Toll Group opened its $300 million offshore petroleum supply base in Loyang yesterday. The Toll Offshore Petroleum Services facility the
      387 words
    • Article
      Lock icon Allen & Gledhill bags 11 Asian Legal Business awards
      366 17  - Allen Gledhill bags 11 Asian Legal Business awards They include the S’pore Deal Firm of the Year; Rajah Tann wins S’pore Shipping Law Firm By Maria Mala Yogalingam ymaria@sph.com.sg ALLEN Gledhill has topped the winners’ chart at the Asian Legal Business (ALB) South-east (SE) Asia Law Awards, bagging a total
      366 words
    • Article
      Lock icon Foreign talent and why locals shun some jobs
      391 17  -  Many aware where non-S’poreans still needed, survey shows By Ng Zhuo Yang ngzy@sph.com.sg SOME 85 per cent of Singaporeans believe that the workforce here has become too reliant on foreigners, a survey of 1,500 people by online jobs portal STJobs has found.
      391 words
    • Article, Illustration
      Lock icon FairPrice in Viet hypercash store venture
      361 18  -  It’ll provide retail management while partner Saigon Co-op handles regulatory requirements By Ng Sai Ying nsaiying@sphcm.sg CO.OPXTRA Plus, a new hypercash retail format store and the fruit of a joint venture between NTUC FairPrice Co-operative Limited (FairPrice) and Saigon Union of Trading Co-operatives Limited
      361 words
    • Article
      Lock icon CFA Institute offers new certificate to help finance sector regain public trust
      406 18  -  By Benjamin Aw benaw@sph.com.sg FINANCIAL institutions both locally and globally will soon have access to a new international accreditation aimed at providing an ethical and broad-based financial education. To be launched by the CFA Institute on Monday, the
      406 words
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  • Page 18 Advertisements
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      244 18 THE BUSINESS TIMES SATURDAY SPECIAL Signature Soya Sauce Chicken on the house! Enjoy the special soya sauce chicken platter worth $36 with our compliments when you spend a minimum of $100. Venue: Luk Yu Restaurant Teahouse #01-41 Chinatown Point, 133, New Bridge Road (*****3) Tel: *****717 Terms Conditions Promotion valid
      244 words
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  • WORLD
    • Article, Illustration
      Lock icon Beware fallout of central bank moves: IMF
      852 19 Monetary easing has worked but the eventual policy reversals could spell severe losses for the Fed and its peers Reuters Washington CENTRAL banks got it right when they saved the world economy, but their unprecedented actions risk disruptive cross-border spillovers and potentially heavy
      Reuters; PHOTO: REUTERS  -  852 words
    • Article, Illustration
      Lock icon President Xi pilots sweeping overhaul of economic system for sustainable growth
      1008 20 Liberalising interest rates, ensuring tax revenues for local governments, revamping tough residence registration on the cards Reuters Beijing CHINESE President Xi Jinping has taken charge of drawing up ambitious reform plans to revitalise the economy, sources close to the
      Reuters; PHOTOS: AP, AFP  -  1,008 words
    • Article
      Lock icon BOE official sees scope for stimulus under new governor
      536 21 Monetary Policy Committee member points to improving growth outlook and signs of weaker inflation pressures Reuters Birmingham THE Bank of England may have more scope to boost the economy after Mark Carney starts as governor because of tentative signs of lower
      Reuters  -  536 words
    • Article
      Lock icon Britain’s parliament too high on booze
      270 21 26% of lawmakers say there is an unhealthy drinking culture AFP London ONE quarter of British lawmakers believe there is an “unhealthy” drinking culture in the houses of Parliament, according to a survey published yesterday. Some 26 per cent acknowledged concerns, rising to 36
      AFP  -  270 words
    • Article, Illustration
      Lock icon April leading index hits five-year high
      525 22 Consumer sentiment rebounds in May to the highest level since July 2007 LATEST US DATA Reuters Bloomberg Washington A GAUGE of future US economic activity in April rose to its highest level in nearly five years while consumer sentiment rebounded in early May to
      Reuters; Bloomberg; PHOTO: AFP  -  525 words
    • Article
      Lock icon It’s time to stop bond buys, say 3 Fed officials
      337 22 Reuters Houston A TRIO of hawkish regional Federal Reserve officials are calling for the US central bank to stop buying mortgage-backed bonds, citing the recent improvement in the housing market. Richard Fisher, president of the Dallas Federal Reserve Bank, was
      Reuters  -  337 words
    • Briefing
      • Article
        Lock icon ECB to keep monetary policy loose for as long as needed
        125 22 Reuters Orleans, France THE European Central Bank will keep its loose and growth-supportive monetary policy stance in place for “quite a long time”, ECB executive board members said yesterday. With the eurozone economy stuck in recession, the ECB cut
        Reuters  -  125 words
      • Article
        Lock icon Bad loans continue to rise at Spanish banks
        115 22 AFP Madrid THE weight of bad loans held by Spain’s banks grew in March, the Bank of Spain said yesterday in a worrying report for the bailed-out industry. Doubtful loans rose to 163.257 billion euros (S$263.6 billion) or 10.47 per cent of
        AFP  -  115 words
      • Article
        Lock icon Bill Gates becomes richest man as Microsoft hits 5-year high London
        123 22 Bloomberg London BILL Gates is once again the world’s richest person. The 57-year-old co-founder of Redmond, Washington-based Microsoft Corp recaptured the title from Mexican investor Carlos Slim yesterday, according to the Bloomberg Billionaires Index, as the software maker hit
        Bloomberg  -  123 words
      • Article
        Lock icon Amazon to be grilled by UK on its low income tax bill
        117 22 Reuters London INTERNET retailer Amazon.com Inc will be called back to the British Parliament to clarify how its activities in the UK justify its low corporate income tax bill, two lawmakers told Reuters. One of the MPs, Margaret
        Reuters  -  117 words
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      212 19 Special Invitation by the Team “■t (Call us for a non obligatory discussion and viewings) Eileen Chan CEA Reg. No,: R*****6F 9478 8913 Brian Peng CUhg.No.: R0465I7A *****142 !1 Alice Ceng CEA Reg. No.: R0208I8G 8222 8100 Elaine Soli CEA Reg. No.: R*****2B *****199 Florence Soh CEA Reg. No.: R*****4J
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  • Page 21 Advertisements
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      Lock icon Page 21 Advertisements Column 1
      63 21 Check out these positions and 500 more in CATS Recruit today! Keppel Group is recruiting a General Manager, Human Resources Resorts World Sentosa Singapore has vacancies in Travel and Leisure Sales SIA Engineering Company has positions open for Aircraft Maintenance Licence Trainees ExxonMobil is hiring Electrical Engineers Roche is looking
      63 words
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      Lock icon Page 21 Advertisements Column 2
      158 21 SMART TERMINAL ASIA 2013 25 27 June 2013, Grand Hyatt Jakarta Experience Event Highlights: Ministerial forum featuring key Indonesian ministers Closed-door luncheon with Indonesia's mayors and province representatives Global and regional project showcase Technology showcase Key distinguished speakers include Djoko Kirmanto Minister Ministry of Public Works Indonesia Bambang Susantono Vice
      158 words
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  • SGX
    • Article
      Lock icon SGX MAINBOARD
      8199 23 Transaction date: May 17 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 15 11.4 8Telecom 13 12.5 10.6 0.8 10.7 62.3 5 3 A-Sonic 4.3cd -0.1 78 4.3 4.2 4.2 4.3 3 30.8
      8,199 words
    • Article
      Lock icon SGX CATALIST
      1811 26 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21.5 15 t 800 Super 19.3 19.5 20 3.3 5.2 5.8 34.5 6.2 2.8 t AA Grp 4.1 0.9 9 205 3.9 40 17.2 t
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 7 1 0 0 0 8 7 1 Manufacturing 55 46 50 10 8 9 65 54 59 Commerce 21 26 18 4 4 5 25 30 23 Tpt/Stor/Comms 17 20 7
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      784 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning May 13 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Fragrance Grp 16-May-13 Koh Wee Meng *Buy 400 0.25 *****0 10.94 *****0 10.95 Fragrance Grp 16-May-13 Lim
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 114,546 114,546 73,314 73,314 Manufacturing 266,439 178,472 444,911 164,765 30,449 195,214 Commerce 509,063 146,979 656,042 103,935 2,998 106,932 Tpt/Stor/Comms 135,119 10,278 145,397 140,697 4,060 144,757 Finance 141,808 454 142,262 119,218 248 119,465 Construction 76,070 365,784
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  • MARKETS
    • Article
      Lock icon LIFFE
      94 27 May 16 COCOA (£/tonne) Close Prev High Low Jul 13 1529 1566 1559 1527 Sep 13 1535 1572 1564 1534 Dec 13 1538 1574 1564 1537 Mar 14 1529 1568 1558 1528 COFFEE(US$/tonne) Close Prev High Low May 13 2016 2027 2018 2008 Jul 13 2046 2054 2049 2032
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    • Article
      Lock icon METALS
      65 27 May 17 GOLD(US$/oz) May 15 May 16 Hong Kong 1424.50 1389.00 May 16 May 15 London 1389.30 1394.19 1390.05 1395.41 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 28.87 27.96 Source: UOB PLATINUM Lon (US$/oz) May 16 Close Previous PM Fix 1476.00 1496.00 AM Fix 1470.00 1495.00 Source:
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      118 27 May 17 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.258 1.199 Can dollar 1.252 1.204 Euro 1.650 1.572 Sterling pound 1.948 1.874 NZ dollar 1.046 1.006 US dollar 1.277 1.217 Local dollars to 100 units of foreign currency: Currencies Sell
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    • Article, Illustration
      Lock icon STOCK MARKETS
      2 27
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    • Article
      Lock icon PALM OIL
      57 27 May 17 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 13 2330.0 2334.0 2339.0 2327.0 466 2753 Jul 13 2338.0 2345.0 2350.0 2336.0 8626 ***** Aug 13 2330.0 2336.0 2342.0 2327.0 ***** ***** Sep 13 2318.0 2326.0
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    • Article
      Lock icon GOVERNMENT SECURITIES
      90 27 May 17 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****H 12-Aug-13 0.24 6-Month BS*****V 15-Nov-13 0.26 1-Year BY*****H 02-May-14 0.26 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-13 100.09 5-Year N*****0T 2.375 01-Apr-17 100.07
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 27 May 17 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2230 1.2244 0.9740 0.9744 Canadian dollar 1.2265 1.2281 0.9773 0.9768 Euro 1.6171 1.6185 1.2879 1.2880 NZ dollar 1.0188 1.0202 0.8114 0.8119 Sterling pound 1.9143 1.9164 1.5246 1.5251
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    • Article
      Lock icon CHICAGO BOT
      104 27 May 16 SOYBEANS(5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jul 13 1427.50 1412.75 1431.00 1408.25 Aug 13 1354.00 1342.00 1358.25 1338.00 Sep 13 1271.50 1262.50 1276.75 1258.50 Nov 13 1217.50 1209.75 1221.00 1206.00 SOYBEAN OIL(60,000 lbs; USc/lb) Close Previous High/Low Jul 13 49.52 49.35 49.80 49.17
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    • Article
      Lock icon OIL
      68 27 May 16 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 104.27 2.84 WTI (Near Mth) 95.08 0.78 Dubai (1-Mth F) 99.80 0.77 Tapis blend 108.26 1.04 Minas 101.26 1.04 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 92.89 -0.22 Jet Kerosene 114.64 0.33 US$/barrel OpecOil Basket Price 100.85
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    • Article
      Lock icon LONDON METALS
      72 27 Apr 16 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1825.25 1807.00 3 months 1852.00 1839.50 Copper, Grade A (US$/tonne) Cash 7250.75 7169.00 3 months 7280.00 7198.00 Lead (US$/tonne) Cash 1985.00 1957.25 3 months 1993.50 1969.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      373 27 In local curr In S$ In US$ dy yr dy yr dy yr May 16 Index Change Change Change Change Change Change World Preliminary 1090.1 -0.1 16.2 0.5 15.7 0.1 13.0 EAFE Preliminary 912.1 -0.3 17.8 0.5 13.2 0.2 10.5 Europe Preliminary 1280.1 -0.2 11.6
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon Re-opening the Silk Road
      1260 28 / 29  -  Trade catalysts such as the economic reforms in Myanmar and sliced production processes are expanding networks of roads, railways, and pipelines reviving land connectivity in Asia. By Pradumna B Rana By By Pradumna B Rana ~The writer is associate professor at the S Rajaratnam School of
      Source: Kumura and Umezaki (2010) and Pradumna B Rana Map outline from BYU Geography Department; PHOTO: AFP  -  1,260 words
    • Article
      Lock icon Much scope to boost Sino-Indian ties
      869 28 / 29  -  By Neeta Lal ~The writer is a New Delhi-based journalist DESPITE a protracted and simmering Sino-Indian border dispute, it must be hoped that new Chinese Premier Li Keqiang’s visit to India next week will not let political discord eclipse bilateral economic engagement between the
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Positive on US, EM equities
        1194 30 / 31  -  Fund managers see upside in the US and emerging markets but shun commodities and quality long-term bonds Genevieve Cua gen@sph.com.sg Personal Finance Editor Economic recovery in the US appears sustainable and unlikely to be much derailed even if a “Lehman event” develops in the eurozone,
        PHOTO: REUTERS  -  1,194 words
      • Article, Illustration
        Lock icon A humble billionaire takes her place on the philanthropic stage
        1305 32 Laurene Powell Jobs, the widow of Steve Jobs, is quietly emerging as a potent force in the public sphere NYT MARLENE Castro knew the tall blond woman only as Laurene, her mentor. They met every few weeks in a rough
        NYT; REUTERS  -  1,305 words
      • Article, Illustration
        Lock icon Room for appreciation in some bourses
        1018 33  -  SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior Correspondent STOCK markets in many parts of the world are hovering at multi-year highs. Should investors be scared? I looked at five markets this week Singapore, Hong Kong, South Korea, Japan and the U to
        Compiled by BT with data from Thomson Data stream; Source: Bloomberg  -  1,018 words
    • WEALTH REAL ESTATE
      • Article
        Lock icon Househunt
        1065 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN APRIL 17 AND APRIL 23, 2013 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED People's Park Cplx Apt 17/04/2013 99 1119 910 813 V On Shenton Apt 23/04/2013
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      • Article, Illustration
        Lock icon At least 50 units sold at Corals preview
        495 35  -  Keppel Bay project is said to command prices from $1,800 to $3,000 psf; about 100 units released out of 366 units By Kalpana Rashiwala kalpana@sph.com.sg Singapore AT least 50 units may have been sold at Corals at Keppel Bay yesterday, the first
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      • Article
        Lock icon Property tops sovereign funds’ investments in 2012
        539 35 Bloomberg Singapore REAL estate topped the list of sovereign wealth funds’ investments last year, overtaking commodities and financial services, according to Institutional Investor’s Sovereign Wealth Centre. Properties made up 26 per cent of investments by these funds last year, up from 14 per
        Bloomberg  -  539 words
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      104 30 / 31 ST PROPERTY WORKSHOP 2013 WAS A HUGE SUCCESS! Tickets sold-out within 3 weeks We thank you for attending our ST Property Workshop! To those who missed the workshop, visit www.STProperty.sg/workshop to view videos and photos of the event. To avoid disappointment, keep yourself updated and book early for our upcoming
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  • Page 36 Advertisements
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      Lock icon Page 36 Advertisements Column 1
      111 36 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE ROYAL OAK REINVENTS ITS HERITAGE AS THE ORIGINAL RULE-BREAKING HAUTE HOROLOGY SPORTS WATCH. THIS ICONIC PIECE CELEBRATES THE PURPOSEFUL ROYAL OAK STRONGBOX ARCHITECTURE, AND THE ARTISANAL FINESSE AND ELEGANCE OF THE ENGINE-TURNED “GRANDE TAPISSERIE” DIAL. THE USE OF 18 CARAT
      111 words
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  • Page 1 Advertisements
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      Lock icon Page 1 Advertisements Column 1
      60 1 LivingBTTHE BUSINESS TIMES WEEKEND MAY 18-19, 2013 THE INDEPENDENTS Four new boutique hotels, opened by those who struck out on their own L2-4 SHOPPING The Outnet’s secrets to success L9 DINING Stroobant takes on Sentosa L5 HOME GARDEN Down-to-earth L10-11 THE DAULAT. PHOTO BY YEN MENG JIIN DINING Look East
      60 words
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  • DESIGN
    • Article, Illustration
      Lock icon THE INDEPENDENTS
      2592 2 / 3  -  Tired of staying in the usual brand name hotels? Four Singaporeans struck out on their own with boutique properties, each with a distinct style and character. By Tay Suan Chiang, Rachel Loi taysc@sph.com.sg L Hotel Seminyak Jalan Raya Petitenget No 8L Seminyak Bali ***** www.thelhotels.com WITH 15 years
      ALL PHOTOS BY YEN MENG JIIN EXCEPT PHOTOS OF L HOTEL  -  2,592 words
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  • DINING
    • Article, Illustration
      Lock icon Stroobant takes on Sentosa
      863 5  -  The Belgian chef is set to open a revamped flagship St Pierre on the island, and takes a surprising turn with a bona fide Chinese restaurant. By Jaime Ee By Jaime Ee jaime@sph.com.sg WHEN you’re a Belgian chef who’s pretty much explored every aspect of modern
      863 words
    • Article, Illustration
      Lock icon Look East
      2180 6 / 7  -  Forget about hanging out at tapas and bistro wine bars. BT Weekend looks at a new trend: Asian-themed restaurants that combine kitschy decor with oriental-inspired food and drink By Rachel Loi, Natalie Koh btnews@sph.com.sg By Sara Yap sarayap@sph.com.sg IF you’re tired of hearing about the next tapas place,
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  • GADGETS
    • Article, Illustration
      Lock icon Wireless wonders
      576 8  -  Nifty cable-free routers make short work complex connections as well as pack a wallop in added features. By Christopher Lim By Christopher Lim WD My Net N900 Central $329 for 1TB; $399 for 2TB Desktop wireless routers have become something of a commonplace necessity in most homes, especially
      576 words
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  • SHOPPING
    • Article, Illustration
      Lock icon OUTER EGO
      770 9  -  The designer discount retailer and sister site to Net-A-Porter has come into its own, with plenty to shout about besides its fabulous prices. By May Yip btnews@sph.com.sg NOW you can declare yourself a designer fashion bargain hunter, and be proud of it. According to Stephanie Phair, managing director
      770 words
    • Article, Illustration
      Lock icon Making it click
      243 9 1 Editorialised content “Discount stores think, ‘because we have a good price point, we don’t need a story.’ But it’s our editorial content that differentiates us, especially since Net-A-Porter pioneered the shoppable magazine. Because designers design fashion for seasons before a trend comes up, we edit our
      243 words
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  • HOME & GARDEN
    • Article, Illustration
      Lock icon Down-to-earth
      1184 10 / 11  -  Ravin Sinan and Maha Lakshmi wanted their three-storey terrace house to exude warmth and comfort and so decided on an earthy theme. space By Tay Suan Chiang taysc@sph.com.sg RIGHT from the start Ravin Sinan and Maha Lakshmi had an idea of how their three-storey cluster terrace home off Braddell
      PHOTOS BY YEN MENG JIIN  -  1,184 words
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  • TRAVEL
    • Article, Illustration
      Lock icon A different Vietnam
      1516 12 / 13  -  Much natural beauty and many historical sites await the traveller to Vietnam, as well as enchanting old towns. By Corinne Kerk By Corinne Kerk btnews@sph.com.sg IT is a grey, cloudy day and groups of tourists are making their way through ancient Hindu temple ruins in My Son,
      ALL PHOTOS BY CORINNE KERK  -  1,516 words
    • Article, Illustration
      Lock icon From mod luxe to colonial glamour
      685 14 The Nam Hai, Hoi An Hamlet 1 Dien Duong Village, Dien Ban District, Quang Nam Province, Central Vietnam Z(84) 510 394 0000 www.thenamhai.com ONE big benefit of Vietnam’s tourism boom is that it has seen the establishment of some top-class hotels. A case in
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  • HEALTH
    • Article, Illustration
      Lock icon Heart patients’ flights of fancy
      1150 15  -  Air travel and altitudes can exert undue pressure on the heart. By Michael Lim ~Dr Lim is medical director at the Singapore Heart, Stroke and Cancer Centre. He is also editor-in-chief, Heart Asia (a journal of the British Medical Journal Publishing Group), chairman of the
      PHOTO: AP  -  1,150 words
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  • SPORTS
    • Article, Illustration
      Lock icon Calling time on Fergie’s time
      580 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Correspondent FOR a man better known for his ruthlessness and no-non-sense demeanour, Alex Ferguson surely couldn’t have expected his final game in charge at Old Trafford to be such a teary affair. But as we all saw last Sunday,
      PHOTO: AFP  -  580 words
  • Page 16 Advertisements
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      Lock icon Page 16 Advertisements Column 1
      862 16 wine&dine with BTWeekend Atrium Lounge Marina Mandarin Singapore 6 Raffles Boulevard, Level 4 The Sweetest Treats for Mum Till May 31, 2013 Mother’s Day might be over, but it’s still not too late to show your appreciation to the most important woman in your life. Pamper Mum with Atrium Lounge’s
      862 words
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  • GOLF
    • Article, Illustration
      Lock icon Tee off to new heights
      982 17  -  Hop on a helicopter for Extreme Golf from a lofty perch thousands of metres high. By Justine Moss btnews@sph.com.sg btnews@sph.com.sg A HELICOPTER may seem a luxurious mode of transport for getting to a golf game, but it is a perfect solution for those who hope
      PHOTOS: JUSTINE MOSS, LEGEND GOLF & SAFARI RESORT  -  982 words
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  • MOTORING
    • Article, Illustration
      Lock icon Hot hatch nirvana
      866 18  -  The Volkswagen Golf GTI has again raised the bar for the hot hatch segment. By C Y Chew btnews@sph.com.sg WEARING a stupid smile on your face while driving around glamorous St Topez may not be the coolest thing to do. But that is what happens when you’re
      866 words
    • Article, Illustration
      Lock icon A slightly hotter hatch
      763 19  -  The Mégane RS265 is an affordable hot hatch that is ideal for track day. By Samuel Ee samuelee@sph.com.sg THE track-focused hot hatch from Renault has just got a little bit hotter. The latest version of the Mégane Renault Sport is the Mégane RS265 with 265 hp.
      763 words
    • Article, Illustration
      Lock icon Technology powerhouse
      764 20  -  Audi has unveiled a host of high-tech features with the latest versions of the RS6 and S3 high-performance models. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THE new Audi RS6 and S3 sports models may appear understated and yet their technology is anything but. Beneath their subtle styling
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