The Business Times, 6 June 2013

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Total Pages: 36
1 36 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Thursday, June 6, 2013
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  • 641 1  -  Regulations to save environment may mean huge bills for shipping industry By LYNN KAN [SINGAPORE] The shipping industry is sailing into a storm of mounting costs as new environmental regulations kick in. One of its top leaders fears that it will
    Source: International Chamber of Shipping  -  641 words
  • 933 1  -  S’pore’s neutrality has positioned it at heart of trade; yuan-clearing facility will help By ANDREA SOH [SINGAPORE] The new yuan-clearing facility in Singapore is expected to further cement Singapore’s position as an iron ore trading hub. Already, about one quarter of all
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  • MARKETS DIGEST
    • 65 1 HST INDEX 3,243.43 (-47.92) HST INDEX FUTURES 3,244.00 (-48.00) HSIMSCI 365.35 (-4.91) HSIMSCI FUTURES 365.40 (-4.50) US$ S$ US$ (S$ per US$) 1.249 (US$/S$ per 1.533 1.915 EURO (US$/S$/€ 1.308 1.633 Foreign currency per US$ S$ YEN 99.70 79.90 RM 3.084 2.469 HK$ 7.761 6.215 BAHT 30.57 24.48 RUPIAH
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    • 48 1 Wednesday Change KL COMP 1,774.42 -2.32 NIKKEI 225 13,014.87 -518.89 HANG SENG 22,069.24 -216.28 SET INDEX 1,522.66 -32.95 JAKARTA COMP 5,001.22 -20.39 MANILA COMP 6,557.89 -115.58 SEOUL COMP 1,959.19 -30.32 SHENZHEN B 867.11 +1.60 MUMBAI IND 19,568.22 +22.44 12noon EDT Change DOW 15,028.37 -149.17 NASDAQ 3,412.67 -32.59
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    • 21 1 SINGAPORE 5.38 HONG KONG 6.55 HONG KONG 5.00 JAPAN 12.962 TAIWAN 5.036 JAPAN 1.475 SWITZERLAND 9.33 BRITAIN Source: Bloomberg
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  • Page 1 Advertisements
    • 215 1 STOCKS Markets’ rally ending? Analysts stay upbeat PAGE 11 ISLAMIC FINANCE AMBITIONS Ways for S’pore to be an Islamic financing hub PAGE 4 NOT MAS REGULATED 2 property firms land in MAS alert list PAGE14 COMPANIES OUE gets green light for Reit listing PAGE 6 ASIA REDUXIt's chow time. Grab
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  • TOP STORIES
    • 369 2 Wheels turn for iron ore trading hub THE new yuan-clearing facility in Singapore is expected to further cement Singapore’s position as an iron ore trading hub. Already, about one quarter of all iron ore imports into China is booked through the Republic, according to estimates by ABN Amro
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    • 785 2  -  It aims to beat the competition in West by staying ahead of changing rules By ANDREA SOH [SINGAPORE] The Singapore Exchange (SGX) may be holding pole position with its iron ore swaps, but it is not resting on its
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    • 783 2  -  Report puts NY, London in front and HK, Tokyo behind By TEH SHI NING [SINGAPORE] Singapore’s future competitiveness will be enough to keep it as the most competitive city in Asia and the third most competitive city globally in 2025, going
      783 words
    • 568 4  -  Country can tap its pull for cross-border liquidity management By KENNETH LIM [SINGAPORE] Cross-border transactions and access to the region are among the key selling points for Singapore as an Islamic financing hub, but strong government and industry commitment are also required for
      PHOTO: ARTHUR LEE  -  568 words
    • 579 4  -  Focus on raising per capita income, setting up special biz zones By in ANTHONY ROWLEY in Tokyo JAPANESE Prime Minister Shinzo Abe yesterday outlined another chapter in his econom i c s t ra t e g y dubbed “Abenomics” with the latest emphasis
      PHOTO: BLOOMBERG  -  579 words
    • 369 4 Xin hua [NEW YORK] A New York University economics professor says that he doesn’t believe there’s a bubble in the US stock market but one could develop in about two years. “I don’t think today there is a stock market bubble
      Xinhua  -  369 words
    • 602 4 Washington wants stiff summits to be a thing of the past AFP [WASHINGTON] The United States hopes the “fast on his feet” style of China’s new President Xi Jinping will loosen the stifling formality of past summits that did little to
      AFP  -  602 words
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    • 239 2 Permanent Establishments: Detecting and Minimising Unintended Tax Liabilities The unintended creation of Permanent Establishments (PEs) is a continuous and growing concern for companies with overseas operations. Many discover that they have accidentally created a PE which puts them in a country’s tax net. With this in mind, are you absolutely
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    • 21 2 GOOD GAINS Let your investors know by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg.
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    • 160 3 www.vw. com. sg Not that you would, but you could. y Q SKH380BA rv-fei T/ w i m T JC^m w a* Jj£. «/V*. New Tiguan R-Line. K7 Introducing the new Tiguan R-Line, the first model in the exclusive Volkswagen R-Line range to be offered in Singapore. As well as
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  • COMPANY NEWS
    • 400 6  -  Report says OUE plans to start pre-marketing for the Reit on Monday By FELDA CHAY IN YET another sign that Overseas Union Enterprise (OUE) is close to launching a hospitality and retail real estate investment trust (Reit) initial public offering (IPO), the company
      400 words
    • 373 6  -  By CARINE LEE MIDAS Holdings’ 32.5 per cent owned company Nanjing SR Puzhen Rail Transport Co Ltd (NPRT), together with consortium partners, has secured a 1.1 billion yuan (S$224 million) metro train contract. It is NPRT’s fourth and largest contract win
      FILE PHOTO  -  373 words
    • 530 6  -  By LEE MEIXIAN UNITED Fiber System (UFS) is starting afresh its bid to acquire Jakarta-list-ed coal miner PT Golden Energy Mines (Gems) through a reverse takeover deal. This follows the termination on May 31 of the original share purchase agreement for
      Source: Bloomberg  -  530 words
    • 1314 11  -  Fund managers too say no signs yet of irrational exuberance By CAI HAOXIANG STOCK markets worldwide have gone up a fair bit in the last four years, especially in the past six months. Worries have surfaced on whether the rally is finally going to
      PHOTO: REUTERS  -  1,314 words
    • 568 12  -  First Eagle recently sold or trimmed its positions in Japanese companies By CAI HAOXIANG THE stock market might be booming, but American value investment firm First Eagle Investment Management, which has US$82 billion of assets under management at end-April, is taking the contrarian
      PHOTO: REUTERS  -  568 words
    • 371 12  -  By CAI HAOXIANG COMPANIES seeking to predict their cashflow more efficiently would do well to focus on internal processes and procedures before turning to external technological solutions, a survey of 900 treasurers has found. The Asia Pacific Treasury Barometer survey by Bank
      371 words
    • 271 12  -  By NISHA RAMCHANDANI AIRLINE stocks have seen their share price soar 15 per cent so far this year, outperforming global equity markets, on the back of brighter prospects for the industry. “Markets continue to anticipate better airline financial performance from restructuring efforts,
      271 words
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  • Page 7 Advertisements
    • 247 7 TEE LAND LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number *****0851R) 11 4il 1 4 ill 5 98 II n r: 98 m r! rr in lllJllMl 91 re 91 B X' r v !SS Z IBS B si IB! a ii in !ii i tu i 2
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    • 79 8 t TEE LAND TEE LAND LIMITED Incorporated in the Republic of Singapore Company Registration Number *****0851R HEARTIEST CONGRATULATIONS THE SUCCESS OF YOUR AL PUBLIC OFFERINGS! BEST WISHES FROM TEE International Limited Trans Equatorial Engineering Pte Ltd PBT ENGINEERING PTE LTD CMC Communications Sdn Bhd B ft, INTERLIFT SALES PTE LTD
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    • 69 9 w TEE LAND TEE LAND LIMITED Incorporated in the Republic of Singapore Company Registration Number *****0851R CONGRATULATIONS TO TEE LAND LIMITED ON YOUR SUCCESSFUL INITIAL PUBLIC OFFERING! i II if' -r BC i ft'- I to 5*SA mSm A m. A m > M S/k </•« is I aura AS
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  • SINGAPORE MARKETS
    • 559 10  -  Index falls 1.5% as selling pressure prevails throughout the morning and early afternoon STOCKS R SIVANITHY Senior Correspondent AN overnight drop on Wall Street followed by steep falls in Japan and Hong Kong yesterday sent the Straits Times Index (STI) tumbling 47.92
      Source: Bloomberg  -  559 words
    • 73 10 Jun 5 VALUE CLOSE BT OB/OS -385.00 -222.00 BT CADI -*****.00 -215.00 BT 10-day MA -*****.00 -39.00 FTSE ST Mid Cap 796.08 -10.92 FTSE ST Small Cap 601.49 -1.77 FTSE ST All Share 801.56 -11.02 FTSE ST China Top 207.21 -2.53 FTSE ST China 234.28 -3.78 FTSE
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    • 51 10 VOLUME New Wave 245,419,000 MDR 173,439,000 Innopac 146,201,000 Rowsley 126,856,000 UniFiber 115,286,000 YHM 94,312,000 Yoma 89,800,000 JiutianC 86,878,000 KLW Hldgs 79,469,000 Healthway 77,302,000 VALUE($) SingTel 145,932,442 DBS Grp 113,546,667 Yoma 86,713,765 CapitaLand 68,746,118 UOB 67,736,785 Keppel Corp 66,822,125 Rowsley 57,256,265 OCBC Bk 55,637,450 GLP 54,952,932 Ascendasreit 52,136,961
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    • 186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 2 12 0 0 0 0 2 12 0 Manufacturing 28 90 23 3 6 18 31 96 41 Commerce 9 32 22 2 10 3 11 42 25 Tpt/Stor/Comms 6 27 8
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    • 993 10  -  Compiled by CAI HAOXIANG Petra Foods June 5 close: S$4.20 OCBC Investment Research, June 5 PETRA Foods’ share price has dipped by 2.4 per cent since the release of its Q1 2013 results, which were below our expectations. Although this pales in comparison to its year-to-date return of
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    • 121 10 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 82,154 82,154 127,429 127,429 Manufacturing 503,010 262,331 765,341 185,781 17,867 203,648 Commerce 173,241 109,082 282,323 123,093 9,754 132,847 Tpt/Stor/Comms 128,160 14,492 142,652 262,579 6,009 268,588 Finance 176,994 386 177,380 291,163 177 291,341 Construction 236,270 94,666
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    • 116 10 Stock name Close Change CapMallsAsia 1.935 -0.010 CapitaLand 3.410 -0.080 CapitaMall 2.150 -0.040 CityDev 10.47 -0.380 ComfortDelGro 1.885 -0.020 DBS Grp 16.40 -0.220 GLP 2.730 Genting SP 1.420 -0.015 Golden Agri 0.565 -0.010 HK Land 6.630 -0.180 HPH Trust US$ 0.795 -0.005 JMH 63.53 -0.850 JSH
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    • 461 10 CURRENCIES Reuters [LONDON] The yen rose against the US dollar yesterday after new Japanese growth policies fell short of expectations, hitting equities, and as investors awaited clues to future US monetary policy. The dollar was down 0.45 per cent against the
      Reuters; PHOTO: BLOOMBERG  -  461 words
    • 111 10 BY CENTS CLOSE UP Lyxor Indonesia10US$ ***** 358.4 2.8 DBXT S&P Short 10US$ 3020 38.7 1.0 UOB 5.05%NCPS 100 ***** 18.0 0.2 OCBC Bk.ES.1306 1039 11.0 1.1 Civmec 100 10.0 11.1 H Royal 335 7.0 2.1 Creative Tech 258 6.0 2.4 Keppel Corp 1063 6.0 0.6 Rowsley 48 5.0
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    • 117 10 BY CENTS CLOSE DOWN JSH 3813 -139.9 -2.9 JMH 6353 -106.1 -1.3 DBXT AUD Bonds 5AU$ ***** -96.9 -0.4 Lyxor MS India 10US$ 1356 -68.7 -3.9 GLD 10US$ ***** -66.2 -0.4 Jardine C&C 4551 -54.0 -1.2 DairyFarm 1262 -48.7 -3.0 DBXT FTChina25 10US$ 2750 -47.5 -1.4 CityDev 1047 -38.0
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    • 5 10 DAILY
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  • Page 12 Advertisements
    • 91 12 MORTGAGE LOAN CALCULATOR Want to know how much monthly instalments you have to pay for your property? www.stproperty.sg/property-tool Key in the price of your property Enter the interest rate, loan tenure and margin of finance Click ‘Calculate’ and we’ll do the math for you! Financing Tools ii a At STProperty.sg,
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  • Page 13 Advertisements
    • 257 13 Sunday, 25 August 2013, 6.30am Punggol Waterway In conjunction with The Straits Times’ 168thAnniversary SIGNUPNOW AND ENJOY MORETHAN $168 WORTHOF GIFTS! Make running second nature! Grab your shoes and leave the city behind, as you hit an invigorating trail through the scenic north eastern riverine loop, that winds along the
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  • SINGAPORE NEWS
    • 546 14  -  0.4% drop follows a 0.9% rise the previous year, says MOM report By LEE U-WEN A TIGHT labour market continued to raise workers’ salaries last year, although the growth rate was lower compared to 2011 due to weaker economic conditions, says
      546 words
    • 542 14  -  By GRACE NG TWO companies in the overseas real estate business have recently been put on the Monetary Authority of Singapore’s (MAS) Investor Alert List (IAL). They are Dolphin Capital Asia and Shenton Wealth Holdings. The IAL is a list of unregulated
      542 words
    • 527 14  -  But being licensed means access to info for reporters, it says By TEH SHI NING YAHOO! News views the new rules requiring online news sites to get licences as “redundant”, given the existing regulations, but the flipside of this is that licensing will pave
      527 words
    • 381 14  -  By SAMUEL EE PREMIUMS for Certificates of Entitlement (COEs) yesterday spiked on a combination of price promotions and new model launches. The sales manager of a luxury dealership said: “I would say demand for new cars is still there, cooling measures or no cooling
      FILE PHOTO  -  381 words
    • 273 14  -  By NG ZHUO YANG SOME 142 employees of UBS Singapore spent four days in the past week as game masters, team captains and photographers for the 8th Special Olympics Singapore National Games. In line with the bank’s family-centric approach towards corporate social
      273 words
  • Page 14 Advertisements
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  • SINGAPORE ACCOUNTANCY CONVENTION
    • 885 15  -  The drawing up of worldwide accounting standards is gaining momentum, but obstacles remain, reports KAN KWOK LEONG reports KAN KWOK LEONG WITH the global economy still struggling to shake off the effects of the financial crisis of the last decade, there has been a
      885 words
    • 193 15 NIMPROVED comparability of financial information: This gives decision makers, including investors, financial institutions and regulators, consistently high-quality information with which to make informed decisions. NReduced systemic risk: Convergence reduces uncertainty and the threat of investor over-confidence, extreme risk aversion and irrational behaviour. NReduced information costs:
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  • Page 15 Advertisements
    • 400 15 Accountancy Convention 2013 The Singapore Chartered Accountant: A Beacon of the Asian Economy L Institute of Certified Public Accountants of Singapore Accountability J Professionalism Trust Join the Institute of Certified Public Accountants of Singapore (ICPAS) at the Singapore Accountancy Convention 2013, as ICPAS celebrates 50 Years of Accountability, Professionalism Trust.
      400 words

  • MALAYSIA/INDONESIA
    • 637 16  -  But commentator says ruling party grassroots should decide Najib’s fate By in Kuala S JAYASANKARAN in Kuala Lumpur THE prospect of a challenge to the leadership of Malaysia’s dominant political party, the United Malays National Organisation (Umno), has diminished after top party
      637 words
    • 546 16  -  Solid fundamentals overshadowed by outcry: Maybank By in Kuala PAULINE NG in Kuala Lumpur EVEN as the clamour over the delays to Malaysia’s new budget terminal KLIA2 continues, an investment bank has urged investors to buy shares of its operator, Malaysia Airports
      546 words
    • 394 16 Reu ters [JAKARTA] Indonesian billionaire Chairul Tanjung has agreed to buy an 80 per cent stake in the country’s second-biggest pay-TV operator, Telkomvision, heating up competition in the emerging pay television market currently controlled by another tycoon, Harry Tanoesoedibjo. Just
      Reuters; PHOTO: REUTERS  -  394 words
    • 305 16 Bloomberg [KUALA LUMPUR] Petroliam Nasional Bhd, Malaysia’s state oil company, said first-quarter profit declined 2.7 per cent and full-year earnings will probably be little changed from the previous 12 months. Net income fell to RM20.37 billion (S$8.3 billion) in the
      Bloomberg  -  305 words
  • Page 16 Advertisements
    • 2008 16 WATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices Takashitim International Ltd Business Company Number: *****66 In Voluntary Liquidation Notice is hereby given that in accordance with the British Virgin Islands Business Companies Act, 2004 (as amended), the voluntary liquidation of Takashitim International Ltd commenced on 21/05/2013 and that Alison Watson
      2,008 words
    • 661 16 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 ASIA TEX HOLDING PTE. LTD. (THE “COMPANY”) COMPANY REG. NO. *****1905G (IN MEMBER’S VOLUNTARY WINDING UP) At an Extraordinary General Meeting of the Company deemed to have been held at 163 Penang Road #02-03 Winsland House II Singapore *****3 on 27th
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  • GREATER CHINA/INDIA
    • 601 17 HSBC/Markit PMI inches up to 51.2, suggesting that growth is still weak Reuters [BEIJING] Activity in China’s services sector expanded in May but at a pace little changed from the month before, the latest sign that the world’s No 2 economy is struggling
      Reuters; PHOTO: REUTERS  -  601 words
    • 529 17 Currency hit by risk aversion and a slew of domestic concerns AFP [NEW DELHI] India’s rupee is flirting with lifetime lows against the dollar as riskwary investors favour the greenback over Asia’s thirdlargest economy which is beset by sharply slower growth, worsening
      AFP  -  529 words
    • 380 17 Bloom berg [NEW DELHI] Indian Prime Minister Manmohan Singh’s Cabinet approved a nonbinding proposal that would start a conciliation process to resolve a US$2.2 billion tax dispute with Vodafone Group Plc. The decision is the first step towards a resolution which
      Bloomberg  -  380 words
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  • ECONOMY WATCH
    • 562 18 Swan says economy in transition, strong currency making it more challenging AFP [SYDNEY] Australia’s economy grew at a slow-er-than-expected pace in the first three months of the year as the commodi-ties-powered nation faces a painful transition away from its reliance on the
      AFP; PHOTO: AFP  -  562 words
    • 442 18 Stimulus has helped flatten Treasury’s yield curve, he says Bloomberg [SAN FRANCISCO] Federal Reserve Bank of Dallas president Richard Fisher called for a reduction in the Fed’s US$85 billion in monthly bond buying while saying he sees an end to
      Bloomberg  -  442 words
    • 213 18 AFP [WASHINGTON] The head of the International Monetary Fund, Christine Lagarde, has warned that the global economy may be slowing more than thought just over a month ago. There are “some glimpses of more somber trends; recent data, for example, suggest some slowdown in
      AFP  -  213 words
  • Page 18 Advertisements
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  • WORLD
    • 529 19 AFP [PASSAU, Germany] Chancellor Angela Merkel pledged 100 million euros (S$163 million) in emergency aid for flood-ravaged areas on Tuesday, as surging waters that have claimed at least 11 lives and forced tens of thousands of evacuations across central Europe bore down towards Germany.
      AFP; PHOTO: AP  -  529 words
    • 592 19 It’s too little, says lawyer, citing initial demand of US$50b Re uters [NEW YORK] American International Group Inc (AIG) argued on Tuesday that a proposed US$8.5 billion settlement between Bank of America Corp and investors in Countrywide Financial Corp mortgage-backed securities was not big
      Reuters  -  592 words
    • 415 19 Coalition of right-wing politicians launches signature campaign seeking referendum on the issue AFP [GENEVA] A group of right-wing Swiss politicians on Tuesday launched a campaign to defend the country’s cherished banking secrecy, which has come under international pressure amid the fight against tax
      AFP  -  415 words
    • 874 20 Beijing rejects move by Europe, begins probe of wine imports from EU AP Bloomberg [BERLIN] The European Union (EU) says it will impose anti-dumping levies on imports of Chinese solar panels, in a move that could trigger a trade war between two
      AP; Bloomberg  -  874 words
    • 252 20 NYT [WASHINGTON] In a major shake-up of President Barack Obama’s foreign policy inner circle, National Security Adviser Tom Donilon is resigning and will be replaced by Susan Rice, the US ambassador to the United Nations, White House officials said. The planned appointment puts Ms
      NYT  -  252 words
    • 484 20 April factory orders up 1%, below 1.5% growth forecast LATEST US DATA Reuters Bloomberg [NEW YORK] US companies picked up the pace of hiring in May, but job growth remained sluggish and fell short of economists’ expectations as the goods-produc-ing sector shed payrolls.
      Reuters; Bloomberg  -  484 words
    • 612 20 Bloomberg [WASHINGTON] Apple’s first loss against Samsung in a US patent case could mean a ban on imports of some older devices including the iPhone 4, while lessening prospects of the largest smartphone makers ending their legal battles. The US
      Bloomberg  -  612 words
    • 531 22 Despite reforms, businesses face major hurdles, such as opaque legal framework AFP [NAYPYIDAW] Hundreds of world leaders and industry chiefs met in Myanmar yesterday for Asia’s edition of the World Economic Forum, as the fast-changing nation woos foreign investors following the end of
      AFP  -  531 words
    • 440 22 Re uters [SYDNEY] James Packer’s Crown Ltd is in talks with a Sri Lankan partner to build a US$350 million hotel and leisure resort in the Indian Ocean island nation, as the Australian gambling tycoon looks to expand his global reach.
      Reuters  -  440 words
    • 326 22 Reuters [HANOI] Vietnam, the world’s second-largest rice exporter after India, has lowered export prices of the grain to boost demand as fresh supplies begin to roll in, traders said yesterday. Industry officials expect lower prices to help attract demand from key markets such
      Reuters  -  326 words
    • 742 24 7,400, or 50% of current staff, to be added over 3 years AP [SAN FRANCISCO] Apple expects to expand its Silicon Valley workforce by nearly 50 per cent during the next three years, signalling the company’s faith in its ability to keep
      AP  -  742 words
    • 679 24 President’s actions aimed at improving incentives for high-tech innovation Reuters [WASHINGTON] US President Barack Obama took steps on Tuesday intended to curb lawsuits brought by companies, disparagingly called “patent trolls”, that make or sell nothing but specialise in suing others for infringement, and
      Reuters; PHOTO: AFP  -  679 words
    • 730 24 NYT [NEW YORK] As businesses demand more services to be delivered over the Internet, the titans of technology are stepping up their offerings delivered from data centres afar, so-called cloud computing. IBM announced on Tuesday that it had agreed to
      NYT  -  730 words
  • Page 19 Advertisements
    • 91 19 ul We explore all angles. So we really know what s happening. When we look at investments, we never take things at face value. Our instinct is to ask what could go wrong, as well as what could go right. Experts call this due diligence. We think from any point
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    • 407 21 Acquire a taste for the finer things in life. m N MifV PARAGON -m* 31 JUNE 2013 30 lw m ft r^. I I r 9 W- Wi§§IISg§lll§ The sale that doesn’t discount on its experience. i kf Citibank Cards Exclusive paragon citibank Receive $40 Paragon shopping vouchers mh am
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    • 3694 22 SINGAPORE POST LIMITED (Incorporated in the Republic of Singapore) Company Registration Number: *****1623M NOTICE OF ANNUAL GENERAL MEETING NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN THAT THE 21STANNUAL GENERAL MEETING of the Company will be held at 10 Eunos Road 8, Singapore Post Centre, SingPost Pavilion (Theatrette) #05-30,
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    • 2204 23 If you think SPH is just a newspaper company, DANCER TREADS LIGHTLY THROUGH LIFE LAW LESSONS FOR SECONDARY STUDENTS TOP OF THE NEWS A2-3 NEW COLUMN –PEOPLE TO WATCH ROBOGALS TO BRIDGE TECH GENDER GAP LIFE! C6 SINC E 1 8 4 5 M O ND AY J UL Y
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    • 181 24 What's up with Ai Weiwei? Oh, nothing much a political demonstration here, a satirical Youtube video there, a controversial exhibit at the Venice Biennale. It's just another day in the life of China's most controversial artist catch our exclusive interview with him in the inaugural BT Luxe Summer 2013magazine. This
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  • Page 25 Advertisements
    • 316 25 Think SPH Think Entertainment Think Digital We bring you more than the power of print. In addition to 18 newspaper titles, over 100 magazines and a wide variety of books, we engage you with the AsiaOne network and other digital offerings such as STJobs, STProperty, STClassifieds, STCars, STOMP, ST Razor
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  • EDITORIAL & OPINION
    • 443 26 EDITORIAL A SPATE of spectacular corporate failures such as Enron, WorldCom and Parmalat about a decade ago led to swift government action to deal with shortcomings in the financial reporting of publicly listed companies. More stringent reporting and disclosure requirements were introduced, most
      443 words
    • 788 26  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 EIGHTEEN months ago, US President Barack Obama hurled a challenge at China, telling it to behave like a “grown-up” and
      788 words
    • 1125 26  -  Some are hoping for an orderly exit at crunch time but that’s not how bourses work ANTHONY ROWLEY Tokyo Correspondent WARNINGS about the risks in financial markets once the US Federal Reserve starts to unwind its mega-monetary easing are rising to
      PHOTO: REUTERS  -  1,125 words
    • 1109 27  -  S’pore is one of the most innovative countries, but its potential for innovativeness needs to be further harnessed By THOMAS MENKHOFF The writer is a professor of organisational behaviour human resources at the Lee Kong Chian School of Business, Singapore Management University IN 2010, communications expert
      PHOTO: REUTERS  -  1,109 words
    • 866 27  -  By V SHANKAR The writer is group executive director and CEO, Europe, Middle East, Africa and the Americas, at Standard Chartered Bank IWAS recently at the Milken Institute Global Conference 2013 in Los Angeles and, for the first time in its
      PHOTO: REUTERS  -  866 words


  • AVIATION/SHIPPING
    • 672 28  -  It will launch more North Asia flights and is investing heavily to improve service standards By NISHA RAMCHANDANI DELTA Air Lines will continue to invest in the Asia-Pacific, building up its network, with a focus on North Asia, over the next three to
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    • 449 28 NYT [TOKYO] As Boeing’s 787 Dreamliner returns to the skies, Japanese pilots are nervous about whether they would receive enough warning about any hazards with the jetliner’s new battery system. Toshikazu Nagasawa, the director at the Air Line Pilots’ Association of
      NYT  -  449 words
    • 239 28  -  Partners to jointly run activities, ad campaigns By MARIA MALA YOGALINGAM SINGAPORE Airlines has signed a memorandum of cooperation with Changi Airport Group (CAG) and South African Tourism (SAT) to promote travel to South Africa. Under the agreement, the three parties will jointly
      239 words
    • 488 28  -  By LYNN KAN CONTAINER shipping companies could start making a profit as soon as the second half of 2013, said Nomura in a research note. The investment house said that the H2 recovery will be driven by better Asia-Europe freight rates due to
      488 words
    • 295 28  -  By NISHA RAMCHANDANI BUDGET carrier Scoot hit a rough patch when a game launched to celebrate its first anniversary experienced a technical glitch. Dubbed the “World’s Longest Virtual Flight”, the game requires contestants to board a virtual flight, following which they have to click
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    • 231 28 SGX '000 Jun 5 S$ +/-Vol CH Offshore 0.43 unch 157 Chuan Hup Hldg 0.27 unch 160 Cosco Corp 0.79 -0.01 1609 S$ First Ship Lea Freight Links 0.10 unch 5327 Grand Banks unch unch 0 Jaya Hold Ltd Chuan Hup Hldg K1Ventures...............0.17 unch 6624 Keppel Corp 10.63
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  • Page 28 Miscellaneous
    • 335 28 CRYPTIC CROSSWORD Across 6 One in affair with members of the Government? Documentation is kept here (6,7) 8 Exaggerate having left party (6) 9 Old writer and editor at university talked freely (6,2) 10 Call a boffin his place of work is in here (3) 11 A feature of some
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  • 1505 29 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 29 Advertisements
    • 84 29 Shipping lines seeking reliable logistics partners TO ADVERTISE, CALL JOE WONG AT 9620 1327 I Can they find your services here in the Shipping Times? M The Business Times Shipping Times PLACE YOUR AD HERE .The Business Times Shipping Times CALL JOE WONG AT 9620 1327 PLACE YOUR AD HERE
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  • SINGAPORE STOCKS
    • 3125 30 Transaction date: Jun 5 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 10.4 7 AEM --AAT M Cap 188 106 AIMSAMPIReit 166 -1 1341 168 163.5 166
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    • 248 31 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 2.4 1.3 t Advanced System 1.6 unch 2036 1.6 1.6 1.6 1.7 25.4 Vol Cooo) Day High Last Quote Low Buyer
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    • 10898 31 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Asset Mat Pte Ltd APS Alpha FundCl A!** Aberdeen Asset Mgt Asia Limited Aberdeen Asset Mat Asia Limited Asian Local Ccy SD Bond 1.006/ Asian Smaller Cos!" 2.0709/ EM local Ccy Bond 0 9838/ European Opportunities!’’ 1.202/ Global Emerging
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    • 249 31 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Low 52 30.5 Genting HK US$ US49.5 +0.5 8273 50 48.5 49.5 50 3259.3 Last 260 183 TanChongInt HK240 unch 12 240 234 234 240 4.3 2.9
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    • 899 31 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 126 107.1 ABF SG Bond ETF Company 143 120.4 CIMB APAC Div 100S$D 137.5 -0.5 0 137.5 137.5 135.5 136.4 114.4 96 CIMB APAC Div 100US$
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  • FINANCE & COMMODITIES
    • 649 32 Jun 5 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.75 *****.42 *****.16 Jun13 *****.00 *****.00 *****.00 *****.00 *****2 *****0 Sep13 *****.00 *****.00 *****.00 *****.00 8538 ***** MSCI TAIWAN INDEX FUTURES SPOT 293.23 294.01 291.58 Jun13 291.80 293.50 290.60 291.70 ***** *****9 Jul13 287.10
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    • 373 32 In local curr In S$ In US$ dy yr dy yr dy yr Jun 4 Index Change Change Change Change Change Change World Preliminary 1063.6 0.4 13.4 0.4 13.3 0.4 10.5 EAFE Preliminary 872.8 0.9 12.7 0.8 9.2 0.9 6.5 Europe Preliminary 1250.8 0.4 9.0
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    • 471 32 Jun 5 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.992 5.874 0.733 7.439 54.172 94.010 0.956 10.700 2.956 1.197 94.432 40.261 1.197 9.465 0.908 28.551 29.298 0.625 0.959 Canada 1.008 5.922
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    • 69 32 Jun 5 (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$) 0.***** 3 mths 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths 0.***** SWAP Mid
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    • 137 32 Jun 5 GOLD(US$/oz) Jun 04 Jun 05 Hong Kong 1415.00 1411.00 Jun 03 Jun 04 London 1408.09 1394.72 1409.81 1395.67 Source: Thomson Reuters CAST BAR Jun 05 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 127 57 5gm 362 283 10gm 646 566
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    • 92 32 Jun 5 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****X 05-Sep-13 0.24 6-Month BS*****H 29-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-15 100.06 100.18 100.02 5-Year N*****0T 0.5
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    • 57 32 Jun 5 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 13 2334.0 2369.0 2363.0 2334.0 25 1136 Jul 13 2367.0 2395.0 2397.0 2358.0 1487 ***** Aug 13 2373.0 2403.0 2406.0 2364.0 ***** ***** Sep 13 2375.0 2400.0
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    • 155 32 Jun 5 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1966 1.1973 0.9583 0.9588 Canadian dollar 1.2066 1.2072 0.9667 0.9663 Euro 1.6329 1.6333 1.3077 1.3079 NZ dollar 1.0002 1.0004 0.8010 0.8011 Sterling pound 1.9146 1.9152 1.5333 1.5336
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    • 109 32 Jun 4 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 13 1528.75 1532.50 1533.00 1518.00 Aug 13 1452.00 1458.25 1460.00 1444.00 Sep 13 1360.25 1367.00 1368.00 1351.25 Nov 13 1316.00 1325.50 1324.75 1304.00 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 13
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    • 95 32 Jun 4 COCOA (£/tonne) Close Prev High Low Jul 13 1528 1507 1532 1500 Sep 13 1530 1510 1533 1503 Dec 13 1531 1511 1533 1504 Mar 14 1529 1509 1530 1503 COFFEE(US$/tonne) Close Prev High Low Jul 13 1876 1884 1892 1871 Sep 13 1904 1914 1920 1900
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    • 967 32 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left (’000) Albedo Limited W*****9 0.9 unch 1500 Ratio Ascendas Reit.ES.1306 Price Asiatravel.com HoldingsW*****7 1 unch 5 1 25 13 Asiatravel.com HoldingsW*****5 2 -0.2 5 1 27 37 Best World Intl Ltd
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    • 70 32 CRUDE OIL PRODUCTS Jun 04 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 102.12 0.34 WTI (Near Mth) 93.38 0.05 Dubai (1-Mth F) 98.42 1.07 Tapis blend 105.43 1.14 Minas 99.43 1.44 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 95.11 2.89 Jet Kerosene 114.50 1.81 US$/barrel OpecOil Basket
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    • 22 32 Jun 5 S$ Bid Offer 1-month 1.2487 1.2488 2-months 1.2486 1.2488 3-months 1.2486 1.2488 6-months 1.2483 1.2491 Source: OCBC
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    • 65 32 Jun-04 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1920.00 1897.75 3 months 1946.00 1925.00 Copper, Grade A(US$/tonne) Cash 7423.25 7309.25 3 months 7455.00 7340.00 Lead(US$/tonne) Cash 2246.50 2224.00 3 months 2240.00 2224.00 Nickel (US$/tonne) Cash *****.50 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months *****.00
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    • 121 32 As at 9am Jun 05 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.237 1.179 Can dollar 1.235 1.188 Euro 1.678 1.599 Sterling pound 1.956 1.881 NZ dollar 1.029 0.990 US dollar 1.279 1.219 Local dollars to 100 units of foreign
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    • 157 32 Jun 5 $S Offer Bid 0vernight 0.01 par 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.05 US$ 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
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  • PROPERTY
    • 1390 33  -  The most compelling and unnerving of these technologies is biometrics, reports STEPHANIE ROSENBLOOM NYT [NEW YORK] GOOD BYE, plastic hotel room key. So long, wallet. Farewell, camera. These days you don’t need any of the above to unlock a hotel room, buy a mojito or snap
      NYT; PHOTOS: NYT  -  1,390 words
    • 762 33 PROPERTY TRANSACTIONS FOR DISTRICTS 2 TO 28 WITH CONTRACT DATES BETWEEN MAY 8 AND MAY 14, 2013 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 2 NON-LANDED Duxton Hill Apt 10/05/2013 99 1244 8350 6711 District 4 NON-LANDED The
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    • 292 34 Xinhua [DHAKA] The Bangladeshi government yesterday signed a deal with a Bangla-desh-Malaysia joint venture to construct an 11 km approach road that links up with the country’s proposed Padma bridge. Bangladesh’s Abdul Monem Limited (AML) and Malaysia’s HCM Engineering Sdn Bhd have formed the
      Xinhua  -  292 words
    • 678 34 Chaotic planning system, poor leasing market outweigh building boom Reuters [LONDON] A protest against plans to fell trees for a development near Istanbul’s Taksim Square, the precursor to five days of rioting, reflects the scarcity of open space in Turkey’s largest city,
      Reuters; PHOTO: AFP  -  678 words
    • 280 34 Buying at low capitalisation rates makes exiting hard Bloomberg [LOS ANGELES] Investor demand for top buildings in major US markets is driving property prices so high that returns may be limited, said Jeff Blau, chief executive officer of Related Cos. Buying at low
      Bloomberg  -  280 words
    • 154 34 Reuters [MUMBAI] The Blackstone Group is in advanced talks to buy a business park in India’s financial capital Mumbai for about 10 billion rupees (S$220 million), two sources with direct knowledge of the situation said on Tuesday. Indian property fund IL&FS Milestone owns
      Reuters  -  154 words
    • 748 35 Buyers pay dizzying sums for condos up to US$100m for a single penthouse AFP [NEW YORK] While many people scrimp and save to buy their first modest home and others rent for life, New York is seeing a boom in housing construction for the
      AFP; PHOTO: AFP  -  748 words
    • 390 35 Bloomberg [SYDNEY] QIC Global Real Estate, the property arm of Queensland state’s asset management company with A$10 billion (S$11.9 billion), plans to buy more US malls after investing in shopping centres in the world’s biggest economy. The unit of QIC Ltd, based
      Bloomberg  -  390 words
    • 286 35 Bloomberg [SYDNEY] Federation Centres, the shopping mall operator formerly known as Centro Retail Australia, agreed to sell half stakes in six properties for A$602 million (S$718 million) to investment management firm Challenger Ltd. The properties, in New South Wales, Victoria and
      Bloomberg  -  286 words
    • 420 36 Price paid by China Overseas Land unit higher than forecast; foreigners barred from buying homes built on the plots Bloomberg [HONG KONG] The government sold two residential sites on which apartments built can only be purchased by local buyers at a price higher
      Bloomberg; PHOTO: BLOOMBERG  -  420 words
    • 527 36 Bloomberg [LOS ANGELES] Almost half of US real estate investors expect to buy fewer rental houses in the next 12 months as rising prices make it harder to profit, according to a survey by polling firm ORC International. About 48 per cent of
      Bloomberg  -  527 words
    • 285 36 Reuters [HONG KONG] Macau casino Sands China Ltd, controlled by US billionaire Sheldon Adelson, has received approval to transfer land rights for an apartment-hotel tower that allows it to sell shares in a property in the world’s largest gambling centre.
      Reuters  -  285 words
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  • Page 34 Advertisements
    • 225 34 Building Wealth Through Global Property Investment We help our clients identify opportunities, BUILD PORTFOLIOS AND HELP THEM MAXIMIZE THEIR WORLD-WIDE ASSETS UNDER MINIMAL RISKS. -L- jl H Trr “T 1 ■UHiai Spi a IK INCOME GENERATING ASSETS -Benefit from secure and regular income returns plus long-term asset appreciation Commercial Buildings
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    • 101 34 Discover a total solution for your every business need a i V ifH 4 r w ASIA 10-12 JULY 2013 Marina Bay Sands Singapore www.OfficExpoAsia.com Organised By: BIZLINK Exhibition Services Pte Ltd A SUBSIDIARY OF SfJl Blk 8 Lorong Bakar Batu, #07-07 Singapore *****3 Tel: (65) 6848 5938 Fax: (65)
      101 words
    • 377 34 INVEST IN NEW ZEALAND Price: NZD $16,000,000 NLA: 4,836sqm Yield: 9.25% 4 1 waii j. i.. Vo I No. 1 7270-21 400-B M ,,,»Price: NZD $12,000,000 NLA: 5,140sqm rt cCFU4i Vo I No. *****-***** 7: Source: Property Council New Zealand and IPD Index 2: Typical property investment 3: Rated third
      377 words

  • Page 35 Advertisements
    • 47 35 Otf' ceS SG per P' per Regus Work your way 12 flexible office locations in Singapore Fully equipped and work-ready Terms to suit any size of business Opening soon in Orchard Wisma Atria Find out more about our fully equipped offices... (k* www.regus.com.sg 1 800 622 1563
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    • 316 35 3 6JC A Singapore Based Boutique Real Estate Broker Focusing On Commercial Real Estate In Central Region Of Singapore Regional Cities We deal with Sales Leasing of the following types of assets 3 4 Star Hotels I Shopping Mall Office Commercial Buildings Boutique Budget Hotels Commercial Shophouses F&B Outlets Within
      316 words
    • 61 35 SUNSHINE PLAZA Office Units Near Raffles City for Sale Unit size from 484 sq ft Prices start from $990k Excellent accessibility with 4 MRT stations within 500m of property No ABSD SSD Ideal for investment own-use Open House Mon Fri, 12 4pm Please call: Investment Advisory 9852 3687 8138 9218
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    • 288 36 computer generated image rfe-r B m St ■wSiTr. r*satj w- •3T g 8 r 'V j* m tsa Mm Su I JL BM RtKT ’.OVJW? SI* A-H MR —CT saw "r, n S#T if-cT-r =§a^r. r 51fc at-?' r -v fr*. J&g££ >- <^AiSTRv I T? 7 rfOi -r r«*3H3-a«fr-fl-B&nn
      288 words