The Business Times, 19 June 2013

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Total Pages: 32
1 32 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Wednesday, June 19, 2013
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  • 791 1  -  By LYNN KAN [SINGAPORE] Three of the world’s container line titans Maersk Line, MSC Mediterranean Shipping Company, and CMA CGM have formed a new alliance to manage their capacity better. But such tie-ups are losing their sheen as a cure to the
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  • 911 1  -  Media and infocomm convergence a key theme; meanwhile, business analytics gets a boost By JOYCE HOOI [SINGAPORE] As Singapore peers into a future where technology is indistinguishable from media, the government has set about arming itself with the new Infocomm Media
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  • MARKETS DIGEST
    • 65 1 GST INDEX 3,229.55 (+46.11) GST INDEX FUTURES 3,230.00 (+46.00) GSIMSCI 362.72 (+5.14) GSIMSCI FUTURES 371.60 (+4.30) US$ S$ US$ (S$ per US$) 1.258 (US$/S$ per 1.570 1.975 EURO (US$/S$/€ 1.339 1.684 Foreign currency per US$ S$ YEN 95.10 75.60 RM 3.151 2.504 HK$ 7.758 6.166 BAHT 30.76 24.45 RUPIAH
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    • 48 1 Tuesday Change KL COMP 1,774.05 +1.88 NIKKEI 225 13,007.28 -25.84 HANG SENG 21,225.88 -0.02 SET INDEX 1,427.42 -43.62 JAKARTA COMP 4,840.45 +65.95 MANILA COMP 6,518.77 +179.36 SEOUL COMP 1,900.62 +17.52 SHENZHEN B 808.40 +1.24 MUMBAI IND 19,223.28 -102.59 12noon EDT Change DOW 15,287.81 +107.96 NASDAQ 3,475.63 +23.50
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    • 23 1 SINGAPORE 5.38 HONG KONG 6.55 INDONESIA 5.00 INDONESIA 13.598 TAIWAN 5.036 US 1.475 CANADA 9.33 BRITAIN 0.50 Source: Bloomberg Source: Bloomberg
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  • Page 1 Advertisements
    • 181 1 STRAIT TALK Under the radar PAGE 20 COMMENTARY Why S’pore’s 2013 outlook may not be so rosy PAGE 19 EXEC MONEY Bank on six principles of income investing PAGE 29 COMPANIES Thumping vote for SPH Reit PAGE 8 SEVEN PALMS SENTOSA COVE SHOT ON LOCATION N<? pA/jtjOia if i Shadows
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  • TOP STORIES
    • 411 2 S’pore starts to chart great tech unknown of 2025 AS Singapore peers into a future where technology is indistinguishable from media, the government has set about arming itself with the new Infocomm Media Masterplan that will see it into 2025. Yesterday, members of the committee that will develop
      411 words
    • 563 2 Housing starts less than expected but rise consistent with market strength LATEST US DATA Re uters [WASHINGTON] US consumer prices rose in May and a gauge of underlying price pressures showed signs of stabilising after a long decline, a potential comfort to Federal Reserve
      Reuters  -  563 words
    • 515 2  -  By in PAULINE NG in Kuala Lumpur LONG-HAUL budget airline AirAsia X, whose IPO subscription closes today, has walked the extra mile to ensure that its customers are given the best odds of landing its shares. Compared to other offerors,
      PHOTO: AP  -  515 words
    • 596 2  -  By NISHA RAMCHANDANI [SINGAPORE] Business travel is projected to grow modestly in the coming months, as improved financial market sentiment and moderate expansion in the global economy balance out weak trade growth, a report said. According to the International Air Transport Association’s (Iata) most
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    • 611 3  -  ‘Exert commercial pressure’ on firms burning forests illegally: Vivian By LEE U-WEN [SINGAPORE] Singapore has contacted Indonesia to express “serious concerns” over the worsening haze crisis, urging Jakarta to name the errant companies involved in illegal forest burning. Foreign Minister K Shanmugam and
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    • 529 3  -  By SAMUEL EE [SINGAPORE] Supercars may come with super high motor insurance premiums, but these are falling as competition intensifies in a growing market, according to brokers for such cars. For example, the annual premium for the $5.3 million Koenigsegg Agera S unveiled in Singapore
      FILE PHOTO  -  529 words
    • 390 3  -  By in S JAYASANKARAN in Kuala Lumpur PRIME Minister Najib Razak yesterday announced the creation of a select fiscal policy panel to oversee the trimming of the budget deficit to 3 per cent of gross domestic product by 2015 without disrupting growth
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  • Page 2 Advertisements
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  • Page 3 Advertisements
    • 159 3 DESIGNED TO SURPASS EVEN ITS ADDRESS. Designed by Pininfarina, the Italian masters behind the world’s most iconic supercars, Ferra is a visual masterpiece framed against Singapore’s leading residential district. m v?a rwts. .W. i-m m r .1 mi > r INESSENCE iESPOKE RESIDENCES BY FAR EAST ORGANIZATION Be the limited
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  • COMPANY NEWS
    • 762 4  -  More Indian firms likely to list on Singapore Exchange to raise capital By MALMINDERJIT SINGH MORE companies from India are knocking at the door of Singapore Exchange (SGX) as the South Asian country looks to Singapore to help finance its enormous infrastructure needs.
      BLOOMBERG FILE PHOTOS  -  762 words
    • 485 4  -  Strategic investor taking 35% stake in new subsidiary By RONNIE LIM CATALIST-listed Hengyang Petrochemical Logistics has found a strategic investor in MEGCIF Investments 5 Ltd, which is investing 271.25 million yuan (S$54.25 million) for a 35 per cent stake in its new subsidiary,
      485 words
    • 176 4  -  By LYNN KAN THE sponsor of First Ship Lease Trust, FSL Holdings, appointed two directors to the board of FSL Trust Management on Monday. FSL Trust Management, the trus-tee-manager of FSL Trust, will now have seven directors. Simon Davidson joined the board as
      176 words
    • 741 8  -  Special dividend of 18 cents per SPH share also approved at EGM yesterday By ONG CHOR HAO SHAREHOLDERS of Singapore Press Holdings (SPH) have overwhelmingly backed the company’s decision to list a retail real estate investment trust (Reit) and pay a special dividend. At an
      PHOTO: JAMIE KOH/THE STRAITS TIMES  -  741 words
    • 373 8  -  By CARINE LEE INTRACO Limited has extended its offer period for the mandatory conditional cash offer for its listed associated company Dynamic Colours Limited (DCL) by an additional 14 days. The offer of 18.5 cents per share will now close
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    • 491 8  -  This includes deals with UTC Aerospace, Spring Airlines Japan By NISHA RAMCHANDANI ST Aerospace, a unit of Singapore Technologies Engineering (ST Engineering), announced a string of contract wins yesterday, including a US$28 million maintenance deal with Spring Airlines Japan and a 20-year repair
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    • 533 9  -  Mixed development for CapLand, landed homes for Keppel By MINDY TAN PROPERTY titans CapitaLand and Keppel Land have acquired land in Shanghai, China, for development. CapitaLand’s project will be a mixed development comprising residential, office and retail components on a site in Hangzhonglu in
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    • 528 9 Bloomberg STX Pan Ocean Co, South Korea’s largest commodi-ties-shipping company, slumped to the lowest level in Seoul trading since its listing after a court accepted its application to seek protection. Pan Ocean fell by its daily 15 per
      Bloomberg  -  528 words
    • 273 9 Pictet-Absl Rtn Glo Cons-P EUR 13/06/2013 EUR 101,38 Pictet-Absl Rtn Glo Div-P EUR 13/06/2013 EUR 113,69 Pictet-Asian Equities Ex Japan-P USD 14/06/2013 USD 169,03 Pictet-Asian Local Currency Debt-P USD 14/06/2013 USD 149,43 Pictet-Biotech-P USD 14/06/2013 USD 439,83 Pictet-Clean Energy-P USD 13/06/2013 USD 69,26 Pictet-Digital Communication-P USD 13/06/2013 USD 164,58
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  • Page 4 Advertisements
    • 160 4 with the freedom our own personal assistant Experience the best of city living at Pan Pacific Serviced Suites Orchard, Singapore, where our attentive round-the-clock Personal Assistants will help ease you into the rhythm of daily life. Whether it is providing you with access to a range of support services or
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  • Page 5 Advertisements
    • 671 5 o n r n x n i: ■■■an C 15* > A Mobile isn’t a device. It’s data OD ((<• There are four times as many tnobile phones in use today as there are personal computers and tablets—and twice as many as there are TVs. V 12 -oA typical mobile
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  • SINGAPORE MARKETS
    • 624 6  -  Traders still banking on Bernanke doing his utmost to calm markets after his earlier hint of QE tapering STOCKS R SIVANITHY Senior Correspondent THE rebound of the previous two days extended into a third session yesterday, as traders continued to bet on US
      Source: Bloomberg  -  624 words
    • 73 6 Jun 18 VALUE CLOSE BT OB/OS -939.00 -31.00 BT CADI -*****.00 +167.00 BT 10-day MA -*****.00 -94.00 FTSE ST Mid Cap 771.18 +7.58 FTSE ST Small Cap 578.30 +6.17 FTSE ST All Share 792.53 +10.54 FTSE ST China Top 202.63 +2.98 FTSE ST China 234.92 +3.27 FTSE
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    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 11 3 1 0 0 0 11 3 1 Manufacturing 65 34 35 5 4 9 70 38 44 Commerce 35 7 15 4 5 2 39 12 17 Tpt/Stor/Comms 22 9 7
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    • 122 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 29,151 29,151 97,660 97,660 Manufacturing 284,250 70,530 354,780 160,551 11,463 172,014 Commerce 141,339 55,801 197,140 101,633 5,250 106,882 Tpt/Stor/Comms 109,771 15,396 125,167 211,435 6,292 217,726 Finance 116,282 463 116,745 187,828 187 188,015 Construction 96,315 33,829
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    • 903 6  -  Compiled by JOYCE HOOI S’pore Technologies Engineering June 18 close: $3.99 DBS Group Research, June 18 ENVIABLE track record. We recently met up with 35 fund managers on a roadshow in the US with STE’s management team. Investors are generally impressed with the group’s track record over the
      Source: Bloomberg  -  903 words
    • 115 6 Stock name Close Change CapMallsAsia 1.890 +0.025 CapitaLand 3.270 +0.010 CapitaMall 2.020 CityDev 10.41 +0.340 ComfortDelGro 1.805 +0.035 DBS Grp 16.04 +0.160 GLP 2.720 +0.040 Genting SP 1.420 +0.010 Golden Agri 0.575 -0.005 HK Land 7.020 +0.070 HPH Trust US$ 0.770 JMH 62.20 +1.190 JSH 38.59
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    • 586 6 CURRENCIES Bloomberg Reuters [TOKYO] The Aussie dollar yesterday extended this quarter’s biggest decline among major counterparts after the Reserve Bank of Australia (RBA) indicated it may weaken further. The currency slid against most of its 16 major peers as the minutes
      Bloomberg; Reuters; PHOTO: AFP  -  586 words
    • 55 6 VOLUME New Wave 133,843,000 Innopac 98,769,000 Rowsley 69,851,000 Enviro-Hub 47,879,000 Yongnam 47,286,000 Golden Agri 43,714,000 WE Hldgs 37,142,000 Thai Beverage 36,846,000 GSH Corp 36,458,000 YHM 32,476,000 VALUE($) SingTel 119,238,260 DBS Grp 62,967,972 CapitaLand 47,833,605 UOB 46,443,090 Keppel Corp 45,873,952 OCBC Bk 43,882,190 Wilmar 41,532,340 GLP 40,266,202 Rowsley
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    • 105 6 BY CENTS CLOSE UP JMH 6220 149.7 2.0 Jardine C&C 4321 108.0 2.6 UOB.ES.1306 2065 43.0 2.1 JSH 3859 36.5 0.8 Kep Corp.ES.1306 1065 35.0 3.4 CityDev 1041 34.0 3.4 IS MS India 100S$D 768 31.0 4.2 DBXT MSINDO 10us$ 1593 28.9 1.5 Spore Land 868 26.0 3.1 Great
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    • 131 6 BY CENTS CLOSE DOWN STXPO 100 178 -154.0 -46.4 DBXT MSMSIA 10US$ 1494 -113.2 -5.7 GLD 10US$ ***** -103.2 -0.6 DBXT FTChina25 10US$ 2618 -88.1 -2.6 DBXT Nifty 10US$ ***** -79.3 -0.6 UOB 5.05%NCPS 100 ***** -65.0 -0.6 DBXT SPASX200 10US$ 3599 -31.5 -0.7 Lyxor MS India 10US$ 1295
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    • 5 6 DAILY
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  • Page 7 Advertisements
    • 230 7 nr t n SMOE y r r r r i r r C r r. r f r 0 0 0 0 0 0 0, 0 T r VI k f mm M Ekofisk Accommodation Topside Bridges Sail-awoy On March 20,2012. i EKOFISK 2/4 CONCCOPHILLII i II ft fiv u
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  • Page 8 Advertisements
    • 106 8 Human Resource (HR) Seminars by Nanyang Technological University Professors For CEOs/ Human Resource Directors/ Training Development Managers/ Senior Management/ Senior Managers OD personnel •oliTH MANAGEMENT DEVELOPMENT CENTRE A Taste of Italian Tradition with Prego’s New Menu Prego launches its new menu teeming with Chef Antonio Facchinetti’s creative take on traditional
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    • 33 8 r star m www.omy.sg r m |**VuV^ ?)S If oS W 3 iwl lifestyle.omy.sg 44 99 -R« SA88BS omy News iOS App Store Google Play k omy Showbiz IOS App Store Google Play
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  • Page 9 Advertisements
    • 285 9 Limited Spots Left! 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 natural coastline of Punggol
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  • Page 10 Advertisements
    • 452 10 WATS NOTICES UMICORE PRECIOUS METALS > (SINGAPORE) PTE LTD Company registration No. 1997-*****-D (In members' voluntary liquidation) At an extraordinary general meeting of the members of the Company held on 18 June 2013 the following resolutions were passed: AS SPECIAL RESOLUTION: Resolved that the Company be wound up voluntarily pursuant
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    • 488 10 NOTICE OF APPOINTMENT OF PROVISIONAL LIQUIDATOR MST PRECISION PTE. LTD. (Incorporated In The Republic Of Singapore) Take notice that Lee Swee Siek of 27 Foch Road #02-06 Hoa Nam Building Singapore *****4 has been appointed provisional liquidator of the abovenamed Company on 6 June 2013 pursuant to Section 291 of
      488 words
    • 260 10 THE COMPANIES ACT (CHAPTER 50) THE COMPANIES REGULATIONSSECTION 227N/REGULATION 55 NOTICE OF JUDICIAL MANAGERS TO CREDITORS OF FIRST MEETING Name of Company: POH LIAN CONSTRUCTION (PTE.) LTD (Under Judicial Management) Company No: *****0875K (Under the Order for judicial management of the abovenamed company dated the 5th day of April 2013).
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    • 26 10 1 FIND THE ONES THAT FIT! \su Recruit the right people through CATS Recruit. i Call 1800 289 8822 or email recruit@sph.com.sg I to advertise. 1
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  • SINGAPORE NEWS
    • 653 10 Tender exercise for the 376,712 sq ft ex-HUDC estate closes on July 24 IF the collective sale of Eunosville is successful, it will give a big boost to this year’s tally of en bloc sales. The minimum price set
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    • 242 10  -  By VEN SREENIVASAN SINGAPORE-BASED BOC Aviation has confirmed a new contract with aero engine maker CFM International for 10 orders of CFM 56 engines and 10 of CFM LEAP engines to power its A320-family aircraft on order with Airbus. Inked at the Paris Airshow,
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    • 552 10  -  Narrow 1.1-1.8% gaps between top three tender prices By MINDY TAN IN the most hotly contested government land sales since November last year, a 99-year leasehold residential site at Faber Walk drew 18 bids at the close of its tender yesterday. Aspial
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    • 355 10  -  By LIVIA YAP IN a survey spanning 32 countries, Singapore employees have emerged the most optimistic about the job prospects of people aged 25 and under. The Randstad Workmonitor Report for Q2 2013 revealed that of 405 employees polled here,
      FILE PHOTO  -  355 words

  • 1265 11 More than ever, businesses, governments and civil society organisations need to join forces to find sustainable solutions to global challenges A Special Feature Brought to You By Singapore Management University FINDING sustainable solutions to the world’s biggest challenges requires business, government and civil society to
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  • Page 11 Advertisements
    • 144 11 SMU Master of Tri-Sector Collaboration CREATING THOUGHT LEADERS TO BRIDGE BUSINESSES, GOVERNMENTS AND CIVIL SOCIETY. governments civil society businesses The new Singapore Management University Master of Tri-Sector Collaboration empowers emerging leaders from businesses, governments and civil society to work together to develop sustainable solutions to the world’s big problems. This
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  • MALAYSIA/INDONESIA
    • 399 12 It sells 2.65 trillion rupiah of debt, well short of eight trillion rupiah goal Bloomberg [JAKARTA] Indonesia missed its target at a bond sale yesterday for the second time in a row on speculation that the falling rupiah and uncertainty over the timing of
      Bloomberg; PHOTO: REUTERS  -  399 words
    • 438 12 AFP [JAKARTA] Indonesia defied popular anger yesterday by pressing ahead with its first fuel price hike since 2008, a day after police fought running battles with thousands outside parliament. Protesters hurling Molotov cocktails clashed with police firing tear gas and water cannons on
      AFP  -  438 words
    • 268 12 AFP [KUALA LUMPUR] Sovereign wealth fund 1 Malaysia Development Bhd plans to raise about US$1 billion through a public listing of its power assets in Malaysia next year, Dow Jones Newswires reported. The proposed initial public offering is the latest in a string
      AFP  -  268 words
  • Page 12 Advertisements
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  • Page 13 Advertisements
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  • GREATER CHINA
    • 419 14 Slowing capital inflows shows that economic slowdown has deepened Bloomberg [BEIJING] Foreign direct investment (FDI) in China rose in May by the least in four months, a sign of concern that growth is slowing in the world’s secondbiggest economy. Inbound non-financial
      Bloomberg  -  419 words
    • 444 14 AFP [BEIJING] China said yesterday that it will hold talks with the European Union this week in a bid to resolve a dispute over solar panels and other business issues, as tensions between the two risk escalating into a trade war. The
      AFP; PHOTO: AP  -  444 words
    • 431 14 Bloomberg [SHANGHAI] China’s new home prices rose in almost all cities in May, led by major centres, as the government’s latest property measures failed to deter buyers. Prices climbed from a year earlier in 69 of the 70 cities tracked by
      – Bloomberg  -  431 words
  • Page 14 Advertisements
    • 1106 14 MATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices CIC CREDIT INDUSTRIE!. ET COMMERCIAL (A BANK INCORPORATED IN FRANCE) Consolidated Statement of Financial Position (In millions) Capital Adequacy Pillar 2 of the Basel Accord requires banks to carry out their own assessment of their economic capital and to use stress scenarios
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    • 581 14 IN THE MATTER OF THE COMPANIES ACT AND CAP.50 AND POP DEVELOPMENT SG PTE. LTD. (In Members’ Voluntary Liquidation) (Company Registration No. *****1826N) At an Extraordinary General Meeting of the members of POP DEVELOPMENT SG PTE. LTD. duly convened and held at 10 Anson Road #33-04A International Plaza Singapore *****3
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    • 275 14 LEARN TO ACHIEVE CONSISTENT PROFITS IN ANY MARKET SITUATION High-Net-Worth people ore not necessarily more educated, hardworking or intelligent. They just know how to PLAY THE FINANCIAL GAME effectively. If you are not yet living a life of financial abundance, it is maybe because you have not developed the financial
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  • ECONOMY WATCH
    • 668 15 Currency has gained 4.1% in 2013 against a basket of 10 exchange rates Bloomberg [EDINBURGH] The euro has overtaken Sweden’s krona as this year’s best performing major currency, revealing how far European Central Bank (ECB) president Mario Draghi is falling behind
      Bloomberg; PHOTO: AP  -  668 words
    • 516 15 Bloomberg [PARIS] French Industry Minister Arnaud Montebourg, an advocate of fortress Europe against “unfair” trade practices, says that he has a new way to bring jobs back home: Colbert 2.0. Named after Louis XIV’s mercantilist finance minister, Colbert 2.0 is software that
      Bloomberg; PHOTO: REUTERS  -  516 words
    • 543 15 Bloomberg [WASHINGTON] US President Barack Obama said Federal Reserve chairman Ben Bernanke has stayed in his post “longer than he wanted”, one of the clearest signals the central bank chief will leave when his current term expires next year. “Ben Bernanke’s done
      Bloomberg  -  543 words
  • Page 15 Advertisements
    • 36 15 Aim, Shoot, Score Are you a HR Professional looking to fill up vacancies in your company? Sign up with STJobs.sg now to take aim at the right candidate and access almost 100,000 registered users and resumes.
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    • 87 15 JUNE ISSUE OUT NOW! TOP STREAMING MUSIC SERVICES TESTED REVIEWED nrjrriLM xiflos S SONOS S PLAYBAR OVER THE AIR sumper lor “Sit BETTERS MOBILE PHOTOGRAPHY SH(X)T LIKE A PRO WITH |iri|||||||| tlll YOUR SMARTPHONE |llll|llll! 20% off Sstf tecnowooe Free gifts from tech@vogue with this promo card Exclusively for HWM
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    • 411 15 AC QUANT Societé d’investissement à capital variable Registered office: 5, Heienhaff, L-1736 Senningerberg Grand Duchy of Luxembourg R.C.S. Luxembourg B *****3 The shareholders of AC Quant (the “Company”) are hereby invited to attend the EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS which will be held on 12 July 2013 at 4.00 p.m.
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  • WORLD
    • 700 16 Foundation already in place with data sharing accords existing in major financial centres WP [WASHINGTON] A top world economic group has called for the creation of a global system to automatically funnel financial information about individuals and companies from countries where
      WP  -  700 words
    • 369 16 Reu ters [TOKYO] Japanese Cabinet ministers welcomed the Group of Eight (G-8) summit’s stance on Tokyo’s sweeping stimulus policies as a vote of confidence in the government’s strategy to end 15 years of entrenched deflation and revive a lacklustre economy. Japan’s
      Reuters  -  369 words
    • 462 16 AFP [TOKYO] The hedge fund that has called on Sony to list part of its profitable entertainment arm has boosted its stake in the company, a report said yesterday, days ahead of a shareholders’ meeting. Billionaire investor Daniel Loeb, who last
      AFP; PHOTO: REUTERS  -  462 words
    • 488 16 Reuters [RIO DE JANEIRO] Brazil, the world’s second-largest producer of iron ore and a major producer of key metals, plans to unveil a bill overhauling its 46-year-old mining law in President Dilma Rousseff’s latest effort to tighten state control of natural resources.
      Reuters; PHOTO: BLOOMBERG  -  488 words
    • 495 16 Banning of securities trades by regulator may be illegal, it says Bloomberg [BRUSSELS] The UK said that giving a European Union (EU) agency emergency powers to ban some securities trades may be illegal in the country’s latest clash over EU decision-making after failing to
      Bloomberg  -  495 words
    • 360 16 Reuters [WASHINGTON] The US Supreme Court ruled on Monday that regulators can challenge deals between brand-name drug companies and generic rivals that delay cheaper medicines from going on sale, which regulators say increase costs to consumers by billions of dollars. But the
      Reuters  -  360 words
    • 695 17 Key principle in plan requires MNCs to declare the tax they pay in each country AP Reuters [ENNISKILLEN, Northern Ireland] World leaders at the G-8 summit declared yesterday that governments must work together to close loopholes that allow multinational corporate
      AP; Reuters; PHOTO: AP  -  695 words
    • 546 17 Bill will help prevent Swiss banks from being indicted by US Reuters [ZURICH] Switzerland’s lower house of parliament has stalled the government’s bid to protect the country’s banks from criminal charges in the United States for helping wealthy Americans to evade tax.
      Reuters  -  546 words
    • 412 17 AFP [LONDON] British officials charged former UBS trader Tom Hayes yesterday, marking the first prosecution over the Libor rate-rig-ging scandal which rocked the banking sector last year with repercussions across the world. “Tom Hayes, a former trader at UBS and Citigroup, has today been
      AFP  -  412 words
    • 620 17 Reuters [BANGKOK] The Thai government has agreed to cut the intervention price farmers get for their rice by 20 per cent from July, the commerce minister said yesterday, just hours after the prime minister said a decision had been deferred. Moody’s rating
      Reuters; PHOTO: REUTERS  -  620 words
    • 352 17 Bloomberg [PARIS] Axa SA, Europe’s sec-ond-largest insurer, plans to invest 10 billion euros (S$16.9 billion) in infrastructure debt over the next five years as low interest rates push European insurers to seek new investments. Axa will invest through the re-al-estate business
      Bloomberg  -  352 words

  • Page 17 Advertisements
    • 240 17 .01^11 ASIA Learn how government assistance schemes can help boost productivity profitability for your business! Tap on the expertise of officers and advisors from Workforce Development Agency, SME Centre SCCCI and SME Infocomm Resource Centre SIRS in a wide spectrum of areas to enhance your business needs! Financial consultation Overseas
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  • EDITORIAL & OPINION
    • 532 18 EDITORIAL THERE is a growing perception among stock market trading representatives (TRs) that theirs is a profession with little or no prospects. Deregulation over the past decade has sent broking commissions drastically lower, hitting TR income. The switch to full-day trading last year means the community
      532 words
    • 826 18  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 EARLIER this year, the state-run China Daily newspaper published an article in which it asked: “How can China make more friends?”
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    • 1060 18  -  Govts, civil society, private sector can improve the availability and quality of finance By MAHMOUD MOHIELDIN The writer is managing director at the World Bank Group Project Syndicate AS the 2015 target date for the Millennium Development Goals approaches, the United Nations is intensifying
      Project Syndicate; PHOTO: AFP  -  1,060 words
    • 1439 19  -  Study suggests companies should have proper succession planning and groom their future CFO from within the company By VINCENT CHEN, MAK YUEN TEEN, CLAIRE NEO WEI LING Vincent Chen and Mak Yuen Teen are professors in the department of accounting at the National University of
      PHOTO: YEN MENG JIIN  -  1,439 words
    • 837 19  -  By TAN KHAY BOON The writer is a senior lecturer, SIM Global Education THE June 2013 survey of professional forecasters showed that the Singapore economy is expected to grow only by 2.3 per cent in 2013, down from the original 2.8
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    • 180 19 LETTER TO THE EDITOR WE refer to the letter “Property tax hike for Keppel Club not reasonable” (BT, June 13) by Denis Distant. Property owners may carry out addition and alteration (A&A) works to improve the properties. For most of
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  • Transport HUB
    • 784 20  -  Long neglected, serious safety problems on general cargo ships and in the small-ship sector need to be tackled STRAIT TALK By DAVID HUGHES S THIS column is being written, the International Maritime Organization (IMO) is grappling with the issues surrounding last year’s tragic loss of the cruise
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    • 1025 20 Bloomberg [LONDON] China’s oil imports are contracting for the first time since 2009, reducing the biggest source of demand for crude tankers at a time when US purchases are slowing and owners face the worst capacity glut in three decades. The world’s second
      Bloomberg; PHOTO: BLOOMBERG  -  1,025 words
    • 460 20 Move to cut freight costs aimed at diversifying supply Bloomberg [SEOUL] South Korean regulations aimed at diversifying the nation’s crude supply will reduce freight costs for cargoes shipped from non-Middle East countries, including those in the European Union. The government cut
      Bloomberg  -  460 words
    • 243 20 SGX '000 Jun 18 S$ +/-Vol CH Offshore 0.43 -0.01 1 Chuan Hup Hldg 0.26 unch 32 Cosco Corp 0.77 0.02 2593 CWT Ltd Ezra Hldgs 0.96 0.02 2175 First Ship Lea 0 43 Freight Links 0.09 unch 3322 Grand Banks unch unch 0 Jaya Hold Ltd 0.56
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    • 63 20 The Finder Singapore Download today! IT’S FREE rz 1 www.TheFinder.com.sg finder SHOPPING RESTAURANTS FURNITURE TRAVEL WELLNESS FREE *r finder TWENTY HOT FINDS FOR YOUR SUPERMAN COMMUNITY CONNECTIONS 16 Artists, 50 Volunteers 1 Mount Sophia Venue GLOBAL KITCHENS DINING FAVES ■ROUND TOWN ...meet percussionist, teacher and Cuban expatriate Pablo FREE DOWNLOAD
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    • 83 20 saasasas^ 19-21 August 2013 Marina Bay Sands, Singapore An event that gathers Singapore's healthcare clusters Biometric Experience Medical Technology Medical Equipment Supplies system mHealthTeleHealth rehabilitation Kitchen Equipment erm Healthcare Orthopaedic Operation hls human resource Patient Record System safetypharmaceutical Innovation A, SUPPLY CHAIN facilities management I Data Storage DRUGS RFID Advancing
      83 words

  • TRANSPORT HUB: AVIATION
    • 1124 21 Advances include more automation, paint jobs by robots, 3D printing for parts Reuters [PARIS] As airplane makers gathered outside Paris to show off their newest high-tech jetliners on Monday, a less-heralded technology story was unfolding back home on the factory floors of the world’s
      Reuters  -  1,124 words
    • 475 21 It has over 100 orders from airlines, leasing firms AFP [LE BOURGET, France] Boeing launched a bigger version of its next-generation Dreamliner plane at the Paris Air Show yesterday with over 100 orders and a clear message after a run of technical blows, the US firm
      AFP; PHOTO: REUTERS  -  475 words
    • 397 21 Bloomberg [LONDON] Easyjet agreed to buy 135 Airbus jets worth about US$13.22 billion at list price as Europe’s No 2 low-cost carrier upgrades its fleet, risking an open confrontation with its founder, who has opposed the purchase. Easyjet will take 35 cur-rent-generation A3 20s
      Bloomberg; PHOTO: AFP  -  397 words
    • 418 21 Reuters [NEW YORK] US consumers are more satisfied with airlines in recent years but the industry still gets relatively low marks, mainly due to the onboard experience, according to a new customer poll released yesterday. The American Consumer Satisfaction Index (ASCI),
      Reuters  -  418 words
  • Page 21 Advertisements
    • 23 21 More so in Beijing, Shanghai Guangzhou China's home prices remained high over last four months To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • Page 21 Miscellaneous
    • 306 21 CRYPTIC CROSSWORD Across 1 Kinks perhaps, pop’s first characters (11) 10 More rum and food, losing head (5) 11 Corrupt young woman longed to get posh (9) 12 Endowment including male’s secluded place (9) 13 Paroxysm from cast for the audience (5) 14 Collector acquiring large plate (6) 16 Most
      306 words

  • TRANSPORT HUB: LAND
    • 531 22 51 people have died after their Grand Cherokees and Libertys caught fire AP [DETROIT] In one of the biggest showdowns between a carmaker and the government, Chrysler yesterday was expected to file papers explaining its refusal to recall 2.7 million older Jeep SUVs
      AP; PHOTO: AFP  -  531 words
    • 443 22 It will reduce reliance on sales to rental car firms Bloomberg [BERLIN] Ford Motor Co is counting on new models such as the EcoSport compact sport-utility vehicle to help reduce reliance on low-margin sales to rental car companies in Europe to
      Bloomberg  -  443 words
    • 943 22 Bloomberg [BERLIN] European car sales fell to a 20-year low in May as rising joblessness caused by a recession in the euro region reduced demand at PSA Peugeot Citroen, Renault, Fiat and General Motors Co. Registrations dropped 5.9 per cent to
      Bloomberg  -  943 words
    • 633 22 Reuters [ONBOARD MADRID-ALI-CANTE HIGH-SPEED TRAIN] A one-track dirt road used by local farmers is the main access to a magnificent glass-and-steel train station in the small city of Villena, on Spain’s latest high-speed rail route. It is a spanking new 4,500 square metre
      Reuters; PHOTO: REUTERS  -  633 words
  • Page 22 Advertisements
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    • 28 22 iCg -fovcn^ CR* hono^ Breakfast »>with JULY 20,2013 SATURDAY n C-Vfi I MOTUL LEARN ABOUT THE IMPORTANCE OF ENGINE OIL FROM LUBRICANT SPECIALIST MOTUL! SIGN UP NOW AT
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  • 2739 23 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 23 Advertisements

  • Page 24 Advertisements
    • 178 24 Importers looking for Warehouse Can they find your services here in the Shipping Times? the business times TO ADVERTISE, CALL JOE WONG AT 9620 1327 fl FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327
      178 words
    • 0 24 :_^*&[&;}=">*_:[!?&(,{\?`&(>+[[
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  • SINGAPORE STOCKS
    • 3193 25 Transaction date: Jun 18 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 10.4 7 AEM --AAT C'vr 188 106 AIMSAMPIReit 165 +4.5 780 167 161.5
      3,193 words
    • 249 26 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 C000) High Low Buyer Seller C’vr P/E Smil 0.2
      249 words
    • 11051 26 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd Aberdeen Asset Mgt Asia Limited 1.11/ Aberdeen Asset Mgt Asia Limited Global Emerging Markets!** EM local Cty Bond .0 9662/ European Opportunities!" 1.2023/ Global Emerging Markets!” Global Opportunities/” 1 8578/ ....0.9444/ Global Emerging Markets USD ...0.5024/ Global Opportunities USD Indonesia
      11,051 words
    • 262 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 49.1 25 AVJennings A43.5 -3 73 46.5 43.5 44.5 46 3.6 8 3.5 161.1 52 30.5 Genting HK US$ US49 +1 ***** 49.5 47.5 48.5 49 3226.4
      262 words
    • 872 26 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 131.5 131.3 132.2 114.4 96 CIMB APAC Div 100US$ US104.4 103.8 104.6 11
      872 words


  • FINANCE & COMMODITIES
    • 634 27 Jun 18 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.15 *****.48 *****.03 Sep13 *****.00 *****.00 *****.00 *****.00 *****0 *****7 Dec13 *****.00 *****.00 *****.00 *****.00 1000 ***** MSCI TAIWAN INDEX FUTURES SPOT 285.86 286.69 283.76 Jun13 285.00 286.00 282.50 285.10 ***** *****0 Jul13 279.60
      634 words
    • 373 27 In local curr In S$ In US$ dy yr dy yr dy yr Jun 17 Index Change Change Change Change Change Change World Preliminary 1051.4 1.1 12.1 1.4 13.5 1.0 10.5 EAFE Preliminary 850.2 1.2 9.8 1.4 9.3 1.1 6.5 Europe Preliminary 1221.1 0.8 6.4
      373 words
    • 471 27 Jun 18 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.966 5.813 0.709 7.360 55.463 94.154 0.902 10.730 2.989 1.190 93.561 40.911 1.194 9.474 0.874 28.451 29.176 0.604 0.949 Canada 1.035 6.016
      471 words
    • 62 27 Jun 18 (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$) 0.***** 3 mths 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths 0.***** SWAP Mid
      62 words
    • 137 27 Jun 18 GOLD(US$/oz) Jun 17 Jun 18 Hong Kong 1398.00 1390.00 Jun 14 Jun 17 London 1386.19 1382.86 1387.41 1383.72 Source: Thomson Reuters CAST BAR Jun 18 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 126 56 5gm 357 279 10gm 638 559
      137 words
    • 88 27 Jun 18 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 19-Sep-13 0.25 6-Month BS*****T 13-Dec-13 0.27 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 99.94 5-Year N*****0T 0.5 01-Apr-18 97.5
      88 words
    • 59 27 Jun 18 Jun 18 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 13 2468.0 2465.0 2475.0 2455.0 1043 5423 Aug 13 2473.0 2473.0 2484.0 2460.0 8946 ***** Sep 13 2466.0 2468.0 2480.0 2454.0 ***** ***** Oct 13
      59 words
    • 155 27 Jun 18 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1933 1.1938 0.9485 0.9488 Canadian dollar 1.2350 1.2356 0.9820 0.9816 Euro 1.6838 1.6845 1.3384 1.3388 NZ dollar 1.0032 1.0034 0.7974 0.7975 Sterling pound 1.9750 1.9756 1.5698 1.5702
      155 words
    • 121 27 As at 9am Jun 18 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.228 1.170 Can dollar 1.255 1.207 Euro 1.715 1.634 Sterling pound 2.009 1.932 NZ dollar 1.027 0.988 US dollar 1.281 1.220 Local dollars to 100 units of foreign
      121 words
    • 160 27 Jun 18 Jun 18 $S Offer Bid 0vernight 0.05 0.03 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.05 US$ 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
      160 words
    • 109 27 Jun 17 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 13 1512.50 1516.50 1519.50 1490.00 Aug 13 1435.25 1434.00 1437.00 1413.50 Sep 13 1333.75 1342.50 1339.25 1325.00 Nov 13 1285.50 1298.25 1293.00 1277.50 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 13
      109 words
    • 95 27 Jun 17 COCOA (£/tonne) Close Prev High Low Jul 13 1440 1464 1460 1435 Sep 13 1452 1474 1473 1446 Dec 13 1459 1482 1478 1454 Mar 14 1462 1482 1479 1456 COFFEE(US$/tonne) Close Prev High Low Jul 13 1738 1739 1742 1716 Sep 13 1764 1764 1767 1744
      95 words
    • 1083 27 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 0.4 1 146 423 70.00 11 Acma Ltd. W*****6 Ratio Albedo Limited W*****9 0.8 unch 5187 Price Ascendas Reit.ES.1306 Disc Asiatravel.com HoldingsW*****7 1 1 25 13 Asiatravel.com HoldingsW*****5
      1,083 words
    • 70 27 CRUDE OIL PRODUCTS Jun 17 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 106.09 -0.05 WTI (Near Mth) 97.84 unch Dubai (1-Mth F) 102.85 0.63 Tapis blend 109.71 0.68 Minas 105.71 0.68 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 96.17 0.73 Jet Kerosene 120.34 1.16 US$/barrel OpecOil Basket
      70 words
    • 22 27 Jun 18 S$ Bid Offer 1-month 1.2580 1.2581 2-months 1.2580 1.2583 3-months 1.2580 1.2583 6-months 1.2581 1.2586 Source: OCBC
      22 words
    • 65 27 Jun-17 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1800.75 1810.00 3 months 1844.00 1851.00 Copper, Grade A(US$/tonne) Cash 7047.75 7056.25 3 months 7083.00 7090.00 Lead(US$/tonne) Cash 2099.00 2102.25 3 months 2108.00 2109.00 Nickel (US$/tonne) Cash *****.50 *****.50 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months *****.00
      65 words

  • executive Money
    • 823 28 Fed data shows US pension funds and insurance firms bought US$13b of equities and sold US$10b of bonds in first quarter Reuters [LONDON] JUST as a month-long stock-market rout seems to have further trashed the concept of a “Great Rotation” from bonds into
      Reuters; PHOTO: AFP  -  823 words
    • 903 29 Income-focused strategies should be well supported by continued demand for higheryielding assets, say Schroder fund managers THE current macroeconomic and financial market environment remains supportive of income-focused strategies, say Aymeric Forest and Iain Cunningham, fund managers of Schroder ISF global Multi-Asset Income, in
      PHOTO: AFP; Source: Schroders; Source: Federal Reserve Bank of St Louis, December 31, 2012  -  903 words
    • 1235 30 Taiwan chip firm MStar trading 17% below MediaTek’s US$3.8b bid Bloomberg [TAIPEI] Traders willing to bet that a pair of semiconductor companies from Taiwan will get their combination past authorities in China stand to reap the biggest return in Asia. Almost a
      Bloomberg; FILE PHOTO:  -  1,235 words
    • 556 30 Bloomberg [NEW YORK] Options traders are paying the most in two months to protect against drops in the largest Chinese exchange-traded fund in the US on concern a local money-market cash crunch will deepen a slump in Asia’s biggest economy. The
      Bloomberg  -  556 words
    • 1023 30 Bloomberg [JAKARTA] The record jump in Indonesia’s 10-year dollar sukuk yield should boost demand for the notes as the government prepares to tap the global market again in the second half of the year, according to Union Investment Privatfonds. The yield on the 3.3 per
      Bloomberg  -  1,023 words
    • 638 31 Six states in the US are developing the concept of social impact bonds The Washington Post [WASHINGTON] Connecticut, Illinois, New York, Ohio, South Carolina and Colorado won a competition initiated by Harvard University and the Rockefeller Foundation, which will provide them technical assistance with
      The Washington Post; PHOTO: AFP  -  638 words
    • 691 31 Their next targets are likely to be ports and storage assets Re uters [GENEVA] Energy trading houses are diversifying into food commodities and metals, which makes them likely to invest in assets such as port capacity as they copy their rival
      Reuters  -  691 words
  • Page 28 Advertisements
    • 85 28 r k Tomorrow needs care Our continuous commitment in Asia In addition to providing global investment solutions, our Asia platform has developed local expertise and renminbi capabilities. Our commitment has always been rooted in transparency and long-term vision. Relying on these common sense values, we help you to protect, grow
      85 words
    • 16 28 Grow Your Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices
      16 words

  • Page 29 Advertisements
    • 578 29 j jwZ** JMr. 4 v? -V--'l •£»< i f .'fy't, /lj >Hlf > 1 v. o* h5KWhen something is a model of excellence, we describe it KttiiiiiiSiiH as the gold standard. As an investor, you're always looking for a better way to accumulate wealth. IMow this is more achievable than
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  • Page 30 Advertisements
    • 221 30 Centre for Asset Management Research Investments NUS Business School CAMRI Public Lecture “On a New Approach for Analyzing and Managing Macrofinancial Risks” PROFESSOR ROBERT C. MERTON Nobel Laureate, 1997 School of Management Distinguished Professor of Finance, MIT Sloan School of Management University Professor Emeritus, Harvard University Resident Scientist, Dimensional Fund
      221 words

  • Page 31 Advertisements
    • 528 31 PIONEERING STARTS WITH INSIGHT. SPDR® ETFS PIONEER OF THE WORLD'S FIRST ETF ■r s> irt 1 V Set eI ts °Sti tJ,e< fr ,/>b A 0/ a* 1 «s i>r Jier e, l b*°Vd„ e *4 /j AwT Q °l0 ‘^uM-Sl 0/ 1.CSS <e\\'V C4r55S‘W -*3HF v L ikss^ >sr'ky
      528 words