The Business Times, 26 June 2013

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Total Pages: 42
1 12 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Wednesday, June 26, 2013
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  • Article, Illustration
    Lock icon China’s credit-guzzling banks face lean diet
    944 1  -  Rise in interbank lending rate spooks market and may hurt small companies By VIRGINIE MANGIN in Beijing STOCK markets in China yesterday finished at a four-year low amid fears that China could face a severe liquidity crunch. Though lending among banks has resumed after
    PHOTO: AFP  -  944 words
  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 GST INDEX 3,089.93 (+15.62) GST INDEX FUTURES 3,090.00 (+16.00) GSIMSCI 347.42 (+3.87) GSIMSCI FUTURES 346.30 (+2.80) US$ S$ US$ (S$ per US$) 1.272 (US$/S$ per 1.545 1.965 EURO (US$/S$/€ 1.314 1.672 Foreign currency per US$ S$ YEN 97.40 76.60 RM 3.196 2.511 HK$ 7.756 6.096 BAHT 30.96 24.33 RUPIAH
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    • Article
      Lock icon MARKETS
      48 1 Tuesday Change KL COMP 1,728.64 -9.55 NIKKEI 225 12,969.34 -93.44 HANG SENG 19,855.72 +41.74 SET INDEX 1,384.63 +20.54 JAKARTA COMP 4,418.87 -10.59 MANILA COMP 5,789.06 -181.99 SEOUL COMP 1,780.63 -18.38 SHENZHEN B 738.53 -7.31 MUMBAI IND 18,629.15 +88.26 12noon EDT Change DOW 14,767.07 +107.51 NASDAQ 3,342.90 +22.14
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    • Article
      Lock icon PRIME RATES
      21 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.365 TAIWAN BRITAIN JAPAN US KOREA 9.33 BRITAIN 0.50 Source: Bloomberg
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  • Article
    Lock icon MND trims supply of sites in confirmed list
    921 1  -  By KALPANA RASHIWALA [SINGAPORE] The Ministry of National Development (MND) has released what Knight Frank chairman Tan Tiong Cheng calls a “play safe” list of state land sites for the second half amid rising concerns about a ramp-up in physical completion of
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      130 1 EXEC MONEY Time still right to ride the liquidity wave PAGE 29 COMMENTARY Making a strategic connection COMPANIES Courage Marine seeks nod to diversify into property PAGE 5 PAGE 19 STRAIT TALK Shrinking the carbon footprint PAGE 20 Don’t miss the 12-page ‘Banking in Singapore’ supplement that comes with your
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  • TOP STORIES
    • Article, Illustration
      Lock icon PM: Singapore still wants to help put out fires
      728 2  -  Yudhoyono’s apology ‘gracious’; permanent solution crucial, says PM By LEE U-WEN [SINGAPORE] Prime Minister Lee Hsien Loong has said that it was “gracious” of Indonesian President Susilo Bambang Yudhoyono to apologise for the haze problem. And going forward, Mr Lee stressed
      PHOTO: LIM KOK MENG/LIANHE ZAOBAO  -  728 words
    • Article
      Lock icon New-home sales climb more than forecast in May
      630 2 Purchases rise 2.1% to annualised pace of 476,000 homes LATEST US DATA Bloomb erg [WASHINGTON] Sales of new US homes climbed more than forecast in May to the highest level in almost five years, a sign of continued strength in a market
      Bloomberg  -  630 words
    • Article
      Lock icon Correction
      47 2 IN “S’pore bond offerings down 24.4% in H1” (BT, June 25), we gave the wrong name for the company that had issued a 10-year 4.95 per cent bond in late April. It should have been Tata Steel, not Tata Communications. We are sorry for the error.
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    • Article
      Lock icon M’sia eyes curbs on flipper-friendly scheme
      546 2  -  By in PAULINE NG in Kuala Lumpur THE developer interest bearing scheme (Dibs), a seemingly win-win financing proposition loved by both builders and home buyers in Malaysia, has come under the scrutiny of the central bank. Local media reported yesterday that Bank Negara Malaysia
      546 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      583 2 China’s credit-guzzling banks face lean diet STOCK markets in China yesterday finished at a four-year low amid fears that China could face a severe liquidity crunch. Though lending among banks has resumed after a temporary freeze last week, interbank lending rates remain high, limiting access to fresh capital
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    • Article, Illustration
      Lock icon 2 pairs of GLS sites to have same tender close
      715 4  -  Property consultants highlight sites in new offering that should appeal to developers By KALPANA RASHIWALA [SINGAPORE] Tenders for a pair of adjacent private housing sites in Upper Serangoon View on the confirmed list will close at the same time in
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    • Article
      Lock icon SPH monitoring market conditions for Reit listing
      248 4  -  By ONG CHOR HAO [SINGAPORE] Singapore Press Holdings (SPH) has declined to add to a report that claims it has delayed the initial public offering (IPO) for its retail real estate investment trust (Reit) amid turbulent market conditions. In a regulatory filing yesterday,
      248 words
    • Article
      Lock icon More COEs seen from Aug with higher deregistrations
      671 4  -  By SAMUEL EE [SINGAPORE] More passenger-car COEs are expected in the next quota of certificates of entitlement, thanks to more vehicles being deregistered, but dealers remain pessimistic about COE premiums softening. Going by the current scrap rate, the next six-monthly COE quota
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  • Page 2 Miscellaneous
    • Miscellaneous
      Lock icon Page 2 Miscellaneous Column 1
      28 2 JACKPOT Estimated Draw on Thu, 27 Jun 2013 at 6.30pm For details, visit www.singaporepools.com.sg IpLAY® Always play with care. [responsibiyy Do not bet illegally. RGB Reg No: *****0202G
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      434 3 H ESTCOM u lb NEW LAUNCH \LITY laf W‘- :-i d I 1 in SI fexaSr < g&lR-' M.iM :acr m msssss;?.. s It miliS Kia, siggiirinp I IWSliii The Westcom is the latest B2 ramp-up factory and warehouse development by Far East Organization. Comprising a total of 72 warehouses
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  • Page 4 Advertisements
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      92 4 CATS Recruit The first step on your ladder to success CLA/AUG06/g 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. STJOBS.sg Awarded Best
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      174 4 One of the LARGEST Investment Fairs in Town! Discover the Wealth Of Investment Opportunities! EVENT HIGHLIGHTS Panel Discussion on Market Outlook (In English and Mandarin) Over 40 FREE Investment Seminars Attend Educational Workshops by International Investment Gurus Keynote Presentations by Popular Investment Speakers Dr. Alexander Elder Best-selling Author Discover the
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      34 4 The Finder Singapore Download today! IT’S FREE Hi FAMILY h -s- P 5 K Pfe: i ,:'vv- FREE DOWNLOAD Available on the *no««o*wo.. App Store P* Google- play JUST 4 KIDZ OUT NOW! sPHmagazines
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon Courage Marine seeks nod to diversify into property
      482 5  -  It will hold special general meeting to obtain shareholders’ ‘pre-approval’ By LYNN KAN COURAGE Marine wants to seek refuge from the rough dry-bulk market, and enter Singapore and China’s “upbeat” real estate markets. It is holding a special general meeting on July
      482 words
    • Article
      Lock icon Logistics Holdings goes into property development
      249 5  -  By MINDY TAN MARKING its first foray into property development, Logistics Holdings said it will acquire Minton Court for $13.4 million to redevelop the site into a high-end cluster housing development. The acquisition cost works out to about $1,010 per square foot (psf) based
      249 words
    • Article, Illustration
      Lock icon TEE Int’l planning to acquire Huzhou plant
      265 5  -  By BENJAMIN AW ENGINEERING and real estate group TEE International Limited intends to acquire a waste water treatment plant in Huzhou, China, it said yesterday. The SGX-mainboard listed company signed a memorandum of understanding (MOU) yesterday with Pioneer Environmental Technology Pte Ltd, a
      265 words
    • Article, Illustration
      Lock icon C&W acquires PSG as part of Asia-Pacific expansion plans
      722 7  -  Move will expand group’s range of services, improve its geographical reach By MINDY TAN CUSHMAN and Wakefield (C&W) has acquired Singa-pore-based Project Solution Group (PSG), for an undisclosed amount. The acquisition of the project management and construction services provider, which will
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    • Article
      Lock icon Baker Tech sells entire Discovery stake
      285 7  -  By CARINE LEE BAKER Technology has divested its entire 20.29 per cent stake in Discovery Offshore SA. The Singapore-listed firm said yesterday that it has sold its 13.288 million shares to Hercules Offshore Inc for 199.33 million Norwegian kroner (S$41.68 million), or 15.00 kroner
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    • Article, Illustration
      Lock icon OCBC starts new investment plan
      349 7  -  By TEO SI JIA BLUE chips are no longer exclusive to the blue bloods now that OCBC Bank has placed it within the reach of the layperson with a new investment plan introduced yesterday. Under the plan, working adults strapped for time and resources can
      Source: SGX  -  349 words
    • Article
      Lock icon Moya inks Indonesian water deal
      230 7  -  By ANNABETH LEOW WATER treatment company PT Moya Indonesia, a wholly owned subsidiary of Catalist-listed Moya Asia L i m it e d 25-year agreement to build h as i n k e d a 25-year agreement to build and operate a water treatment plant
      230 words
    • Article
      Lock icon Yongnam wins two deals worth HK$166m
      390 8  -  Both subcontracts expected to have favourable impact on its performance By MINDY TAN YONGNAM Holdings’ wholly owned subsidiary, Yongnam Engineering (HK), has secured two new specialist civil engineering subcontracts worth HK$166 million (S$27 million). In the first subcontract, Yongnam will supply about 2,000 tonnes
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    • Article
      Lock icon Swissco expanding crew boat fleet
      331 8  -  It seals contracts for three of its crew boats worth $8.2m By LYNN KAN SWISSCO Holdings is enlarging its fleet of crew boats to meet quickly rising demand in South-east Asia’s offshore marine sector. The mainboard-listed marine service provider yesterday announced contracts for three of
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    • Article
      Lock icon Sembmarine unit divests part of stake in CNPC-linked JV
      222 8  -  By LYNN KAN SEMBCORP Marine’s offshore engineering and construction subsidiary SMOE has divested 30 of its 49 per cent shareholding in HQSM Engineering, a joint venture (JV) linked to China’s state-owned China National Petroleum Corporation (CNPC). SMOE sold 1.2 million shares
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    • Article
      Lock icon Z-Obee posts 17% fall in net profit for FY2013
      292 8  -  By TEH SHI NING Z-OBEE Holdings’ FY2013 net profit fell 17 per cent to US$4.26 million from US$5.14 million the year before, as impairment losses from a reassessment of the group’s asset portfolio more than wiped out an increase in fair-value
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    • COMPANY BRIEFS
      • Article
        Lock icon Goodland’s Myanmar project: 12 units sold
        52 8 GOODLAND Group said that the 12 apartments launched under the first phase of its first residential project in Myanmar, the 66-unit Golden Dragon Condominium in Yangon, have been sold. The project is being developed by a 50:50 joint venture between Goodland Glory and KBS
        52 words
      • Article
        Lock icon CEO defaulted on payments: liquidator
        91 8 THE joint official liquidator of troubled firm China Milk Products Group said yesterday that the company’s CEO Liu Hailong has defaulted on his obligations to pay $53 million to settle and compromise outstanding bonds under a settlement agreement signed last year. As a result, the
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      • Article
        Lock icon Leader Env plans to place 31.7m shares
        34 8 LEADER Environmental Technologies has proposed the placement of 31.7 million new ordinary shares at 6.3 cents each to seven placees to raise a total of $2 million.
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      167 5 J I f I i I with the freedom of your own personal assistant Experience the best of city living at Pan Pacific Serviced Suites Orchard, Singapore, where our attentive round-the-clock Personal Assistants will help ease you into the rhythm of daily life. Whether it is providing you with access
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon China liquidity woes hold sway
      549 6  -  But reversal of losses in Hong Kong bourse helps the ST Index to rebound STOCKS R SIVANITHY Senior Correspondent THE Straits Times Index (STI) underwent a volatile session yesterday, first rising as short-cov-ering kicked in after Monday’s 50-point loss, but later coming under pressure when
      Source: Bloomberg  -  549 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      73 6 Jun 25 VALUE CLOSE BT OB/OS -630.00 +257.00 BT CADI -*****.00 -34.00 BT 10-day MA -*****.00 -63.00 FTSE ST Mid Cap 724.72 +2.74 FTSE ST Small Cap 557.08 -0.78 FTSE ST All Share 756.33 +3.32 FTSE ST China Top 190.49 -0.98 FTSE ST China 220.47 -1.00 FTSE
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    • Article
      Lock icon MOST ACTIVE STOCKS
      54 6 VOLUME IPCO Intl 99,086,000 YHM 81,855,000 Innopac 77,124,000 Golden Agri 74,259,000 Infinio 57,124,000 Cedar 54,123,000 Thai Beverage 52,487,000 WE Hldgs 48,729,000 SingTel 43,751,000 Yongnam 37,790,000 VALUE($) SingTel 156,685,216 DBS Grp 95,108,895 Wilmar 65,868,940 UOB 50,533,040 OCBC Bk 49,921,121 Keppel Corp 47,269,900 GLP 45,374,278 CapitaLand 44,332,020 Golden Agri
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 9 4 2 0 0 0 9 4 2 Manufacturing 37 64 35 5 11 6 42 75 41 Commerce 22 21 20 2 2 7 24 23 27 Tpt/Stor/Comms 10 18 11
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    • Article, Illustration
      Lock icon BROKERS’ TAKE
      883 6  -  Compiled by JOYCE HOOI CapitaLand Limited June 25 close: $3.01 OCBC Investment Research, June 25 CHINESE authorities are gunning for sustainable growth. Last week, the flash Chinese Purchasing Managers’ Index reading for May came in below view at 48.3 a ninemonth low and the second consecutive month of
      Source: Bloomberg  -  883 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 27,636 27,636 83,292 83,292 Manufacturing 295,451 160,046 455,497 236,972 8,395 245,367 Commerce 239,794 61,335 301,129 144,204 5,970 150,174 Tpt/Stor/Comms 129,311 51,072 180,383 256,607 18,101 274,708 Finance 109,974 89 110,063 223,821 39 223,859 Construction 190,294 82,796
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    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      116 6 Stock name Close Change CapMallsAsia 1.740 -0.040 CapitaLand 3.010 +0.030 CapitaMall 1.910 +0.005 CityDev 10.50 +0.040 ComfortDelGro 1.775 +0.025 DBS Grp 15.62 +0.340 GLP 2.600 -0.010 Genting SP 1.325 Golden Agri 0.550 +0.015 HK Land 6.420 +0.060 HPH Trust US$ 0.730 -0.005 JMH 57.10 -1.870 JSH
      116 words
    • Article, Illustration
      Lock icon US$ index falls from near 3-week highs
      440 6 CURRENCIES Reuters [LONDON] The US dollar fell for the first time in a week yesterday against a currency basket, as investors pared long positions after some Federal Reserve officials downplayed expectations of an imminent end to stimulus. The US currency, though, recouped some
      Reuters; PHOTO: BLOOMBERG  -  440 words
    • Article
      Lock icon RISES
      112 6 BY CENTS CLOSE UP Jardine C&C 4195 70.0 1.7 DBXT S&P Short 10US$ 3117 44.5 1.1 DBS Grp 1562 34.0 2.2 UOB 5.05%NCPS 100 ***** 28.0 0.3 DBXT MSTHAI 10US$ 1962 26.7 1.1 UOB 1965 25.0 1.3 IS ASIA HYG100US$ 1055 22.9 1.7 DBS.ES.1306 1549 22.0 1.4 Isetan 495
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    • Article
      Lock icon FALLS
      126 6 BY CENTS CLOSE DOWN DBXT iBoxxUSTr 5US$ ***** -731.5 -2.8 DBXT MSEurope 10US$ 4805 -267.2 -4.2 JMH 5710 -237.9 -3.2 DBXT E50 10US$ 3994 -143.8 -2.8 DBXT FTVietnam 10US$ 2195 -98.0 -3.4 DBXT S&P500 10US$ 2597 -82.7 -2.4 JSH 3684 -67.4 -1.4 Lyxor AsiaRE 10US$ 905 -57.3 -4.7 Lyxor
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 6 DAILY
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      293 7 im :frl 1 edge IT L m u _3 *tar Ot) UdEATRE va f7/ Sunday Brunch at Edge Kick-off a lazy Sunday with Edge's extensive Sunday Brunch spread. Highlights include Alaskan King Crab, Japanese Scallops, a 'live' Roti Prata station. Black Angus Rib Eye, Pan Fried Foie Gras and fresh
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      148 8 r OMETIMES, BEING Labelled Works To Your Advantage. Especially if Your Wine Finds Favour With Our Panel Of CEOs. If you are a wine producer or distributor, submit your top labels for this award and vie for recognition. 10 deserving wines will be picked by 10 CEOs known for their
      148 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Resale strata factory units sold down 17% in Q2
      487 9  -  Cooling effect of sellers’ stamp duty on industrial property kicks in By ONG CHOR HAO THE industrial real estate market seems to be losing some momentum in the second quarter, as buyers turn more cautious following the introduction of a sellers’
      Source: DTZ Research  -  487 words
    • Article, Illustration
      Lock icon $12m EDB grant for solar power research
      501 9  -  By MALMINDERJIT SINGH THE Economic Development Board (EDB) yesterday announced the award of $12 million in grants to research projects aimed at coming up with innovative and more efficient ways to tap solar energy. Five research teams will be given funding. Three of
      FILE PHOTO  -  501 words
    • Article, Illustration
      Lock icon Data centres eyeing expansion: survey
      270 9  -  By TEO SI JIA MOST data centres in Singapore could undergo expansion this year and in 2014, according to a survey among IT decision makers in the corporations here. In the survey conducted by Campos Research Analysis for Nasdaq-listed data centre solutions provider Digital Realty
      270 words
    • Article
      Lock icon SMU is No 2 in an FT ranking of Masters course
      334 9  -  By ANNABETH LEOW THE Master of Science in Wealth Management programme run by the Singapore Management University (SMU) has been ranked second in the world among comparable masters in finance courses of study internationally. It is the first time
      334 words
    • Article
      Lock icon UBS flags rapid rise of S’pore household debt
      606 9  -  High debt-GDP ratio could hurt in face of global slowdown By LIVIA YAP THE rapid rise in household debt here, coming amid the uncertainty of global financial markets, has been red-flagged. Kelvin Tay, the regional chief investment officer for the Southern Asia-Pacific
      606 words
    • SINGAPORE ROUNDUP
      • Article
        Lock icon Real estate body appoints new CEO
        90 9 REAL estate body SAEA formerly known as Singapore Accredited Estate Agencies Ltd has announced the appointment of Dennis Tay as chief executive officer effective July 1. Mr Tay will succeed Sunny Lee, who has served as CEO since Nov 1, 2011. Mr Tay has
        90 words
      • Article
        Lock icon Botanic Gardens named top Asian park
        69 9 THE Singapore Botanic Gardens was named the top park in Asia in TripAdvisor’s Travellers’ Choice Attractions awards, based on millions of reviews and opinions from travellers. Universal Studios Singapore was ranked second by the travel website for Top Amusement and Water Parks in Asia,
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      26 9 IJ FIND THE ONES THAT FIT! Recruit the right people through CATS Recruit. Call 1800 289 8822 or email recruit@sph.com.sg to advertise. J -U L I
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      288 words
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  • FORWARD THINKERS
    • Article, Illustration
      Lock icon Lanxess: here for the long haul
      1573 10  -  The German speciality chemicals maker aims to expand its business and operations in Asia in a big way, reportsRONNIE RONNIE LIM AXEL Heitmann reiterated at the inauguration of Lanxess’s 400 million euro (S$670 million) butyl rubber plant earlier this month: “At Lanxess, we take
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      667 11 z I .1 n mill m Mobile isn’t a device. It’s data cc ((<• •>)) 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 user engages with a device
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon Moody’s keeps A3 rating for KL sovereign debt
      434 12  -  Outlook remains stable, but agency warns that public debt is still high By S JAYASANKARAN in Kuala Lumpur INTERNATIONAL rating agency Moody’s Investors Services retained Malaysia’s sovereign debt rating at A3 with a stable outlook, but warned that its public debt remained
      434 words
    • Article, Illustration
      Lock icon Foreign funds reversing out of Indonesian equities
      452 12 Bloomberg [JAKARTA] Foreign fund flows into Indonesian equities turned negative for the first time this year after investors pulled money from the stock market for a 22nd day. Foreigners sold a net US$68 million worth of Indonesian stocks Monday, according to data compiled
      Bloomberg; PHOTO: AFP  -  452 words
    • Article, Illustration
      Lock icon KL can’t sacrifice RM7b of car taxes: minister
      855 12 AP [KUALA LUMPUR] Malaysian Trade Minister Mustapa Mohamed has ruled out slashing car taxes that keep car prices high because, he said, the move would hurt efforts to cut the country’s budget deficit. Mr Mustapa said that the government cannot “sacrifice” the
      AP; BLOOMBERG  -  855 words
  • Page 12 Advertisements
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      122 12 WAT3 NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices Industrial Government Land Sales: Land Parcels at Tuas South Avenue 3 and Tuas South Street 10 Son S Oh /e ct S 0(j V(/t tuas___south avenue tuas SOUTH STREET [UfCl 0 m MPQ RYR tuas SOUTH street flOm P OR IPV ROAD
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      449 12 /SDNHoldings ISDN HOLDINGS LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****6788Z) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of ISDN HOLDINGS LIMITED (the “Company”) will be held at 12 Kallang Way #02-02, Nova Building, Singapore *****6, on 11 July 2013
      449 words
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      126 12 TAKUMI UNITECH PTE LTD. Company Registration No. *****6261M (In Members’ Voluntary Winding-Up) NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap 50, that the Final Meeting of the above named company will be held at 180B Bencoolen Street, #12-05, The Bencoolen, Singapore *****8 on 29 July
      126 words
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      221 12 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF WING YUE ARDMORE PTE. LTD. (Company Registration No: *****4516C) (In Members’ Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50 that a Final General Meeting
      221 words
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      360 13 Your Bundle Of Joy With The Samsung GALAXY S4 With LIE a JNG v 9 SAMSUNG Sfh .DOWNLOAD The Straits Times The Straits Times Android Smartphone App features the Print Edition and latest News, Stocks, Weather and Photos... Version: 1.5.8 The Business Times The Business Times I Android Smartphone App
      360 words
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  • GREATER CHINA/INDIA
    • Article
      Lock icon Cisco poses security threat: China dailies
      876 14 Global Times, for example, alleges that America can ‘attack China almost at will’ Bloomberg [BEIJING] Cisco Systems Inc faces a backlash in China, where it generates about US$2 billion in annual sales, after state-run media said the company poses a security threat and urged
      Bloomberg  -  876 words
    • Article, Illustration
      Lock icon Stop sale of gold coins and bars, India retailers told
      695 14 Jewellers’ body tries to help govt solve deficit problem Reuters [MUMBAI] India’s biggest jewellers’ association has asked members to stop selling gold bars and coins, about 35 per cent of their business, adding its weight to government efforts to cut
      Reuters; PHOTO: AFP  -  695 words
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      105 14 ANNIVERSARY MEN’S HEALTH TURNS10! p 100% m USEFUL! L Mens FASTER! STRONGER!! LEANER!! GET MILITARY MUSCLE IN JUST 6 WEEKS! SINGAPORE MerfsHealm ANNIVERSARY Yi 1 EFUL LONGER WHY CALCIUM CAN HURT YOUR HEART FIND OUT ON P22 HEALTHDIY WHATYOURPEE IS TELLING YOU THE MAN (MTEEL WORKOUT V L BOULDER OULDERS
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      92 14 stfi H SINGAPORE PRESS HOLDINGS f asta one V 7 Catch up with the Latest Business News with AsiaOne smartphone app l-l Australia adds most \obs iij almost t3 years aS40 million to enoourage| iamily environment BUSINESS Ifl 7 7 V&' STOCK Pay attention to pii| health-. UN urges Malaysians
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  • ECONOMY WATCH
    • Article
      Lock icon Speaking too clearly can have a price for US leaders
      769 15 This applies to diplomacy, politics and economics AP [WASHINGTON] For US policy makers, events that seem at first like positive developments can sometimes unexpectedly bite back. When federal budget deficits finally began to shrink in early spring as recovery from
      AP  -  769 words
    • Article, Illustration
      Lock icon ‘Feral hogs’ won’t scare the Fed
      657 15 Fed officials signal they aren’t worried about response to the end of QE AFP Bloomberg [LONDON] The “feral hogs” of the financial markets will not sway the US Federal Reserve from scaling back its bond-buying programme when it deems the time to be right,
      AFP; Bloomberg; PHOTOS: BLOOMBERG  -  657 words
    • Article, Illustration
      Lock icon Bernanke comments surprised investors: poll
      573 15 AP [WASHINGTON] Stock and bond prices are sinking because investors were caught off-guard and alarmed by the Federal Reserve’s signal that longterm interest rates are headed higher. That’s the view that emerges from an Associated Press survey of economists late last week. A majority of
      AP; PHOTO: AFP  -  573 words
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      1444 15 »AT3 NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF QIMI ASSET MANAGEMENT PTE. LTD. Company Registration Number *****5303Z (IN MEMBER’S VOLUNTARY LIQUIDATION) NOTICE OF RESOLUTIONS [(Pursuant to Section 290(2)(b)] At an Extraordinary General Meeting of the member
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  • WORLD
    • Article
      Lock icon More US debt financing, capital raising get shelved
      862 16 Borrowers from govts to firms hold back amid interest rate turmoil Reuters [NEW YORK] Prospective borrowers ranging from US companies to county governments have shelved a raft of deals to raise new capital or refinance debt as a suddenly uncertain interest rate
      Reuters  -  862 words
    • Article, Illustration
      Lock icon FSB weighs alternatives to scam-hit rate benchmarks
      301 16 Bloomberg [BRUSSELS] Global regulators are to assess alternatives to tarnished benchmarks in the wake of raterigging scandals that have harmed investor confidence. The Financial Stability Board (FSB) will set up working groups to examine possible alternatives, with an initial focus on interestrate benchmarks,
      Bloomberg; PHOTO: AP  -  301 words
    • Article, Illustration
      Lock icon BRICS moves to limit effects of Fed tapering
      573 16 Group to decide on action in July linked to advancing dollar Reu ters [BRASILIA] Major emerg-ing-market nations will work together to limit the effects that a strong US dollar could have on their economies as the Federal Reserve signals plans to scale
      Reuters; PHOTO: REUTERS  -  573 words
    • Article
      Lock icon Japan insurer eyes US$700m stake in Thai counterpart
      619 16 Reuters [TOKYO] Meiji Yasuda Life Insurance has entered into exclusive talks to buy a 15 per cent stake in Thai Life Insurance for around US$700 million, people familiar with the matter told Reuters, as Japanese insurers step up their presence in South-east
      Reuters  -  619 words
    • Article
      Lock icon US FTC probes setting of crude oil, petroleum product prices
      450 16 WP [WASHINGTON] The US Federal Trade Commission (FTC) opened a formal investigation into how prices of crude oil and petroleum-derived products are set, mirroring a European Union inquiry, two people familiar with the matter said. The investigation, now in a
      WP  -  450 words
    • Article
      Lock icon Myanmar seen renegotiating resource deals
      577 17 Country’s powerful military and Chinese firms could be the most affected by move: US think tank AFP [UNITED NATIONS] The Myanmar government plans to renegotiate billions of dollars of natural resource deals as it imposes tougher environmental standards and clamps down on corruption, a leading
      AFP  -  577 words
    • Article, Illustration
      Lock icon ‘Accommodative’ policy still appropriate for ECB, says Draghi
      370 17 Reuters [BERLIN] An “accommodative” monetary policy is still appropriate for the European Central Bank (ECB), whose OMT bond-buy plan is essential now as policy shifts elsewhere reverberate across the globe, ECB president Mario Draghi said. In remarks prepared for delivery in Berlin,
      Reuters  -  370 words
    • Article
      Lock icon Emerging nations more mindful of CSR
      415 17 Highest concern in workers from Brazil, Mexico, Indonesia, India: Ipsos survey Reuters [NEW YORK] Workers in emerging countries are more concerned about corporate behaviour than employees in more developed nations, according to a poll released yesterday. The Ipsos survey of 24 nations showed that
      Reuters  -  415 words
    • Article, Illustration
      Lock icon No change in Qatar policies seen from leadership handover
      499 17 Sheikh Hamad makes way for 33-year-old son AFP [DOHA] The succession of power in Qatar is not expected to disrupt the tiny Gulf state’s rising international political influence or its role as an economic powerhouse with a global reach, analysts say.
      AFP; PHOTO: AFP  -  499 words
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      1106 17 KATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices COURAGE MARINE GROUP LIMITED M italic 111 PR-&1] (Incorporated in Bermuda) (Company Registration No. *****) (Hong Kong Stock Code: 1145) (Singapore Stock Code: E91.SI) NOTICE OF SPECIAL GENERAL MEETING NOTICE IS HEREBY GIVEN that a SPECIAL GENERAL MEETING of Courage Marine Group
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  • EDITORIAL & OPINION
    • Article
      Lock icon Making sense of the market turmoil
      503 18 EDITORIAL EVER since the chairman of the US Federal Reserve Ben Bernanke delivered his testimony on monetary policy to the US Congress on May 22, financial markets have been on edge. But after the Federal Open Market Committee’s (FOMC) statement on monetary policy last
      503 words
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      Lock icon Will Snowden leaks put US in same league as China?
      800 18  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 THE month-long sojourn of former National Security Agency contractor Edward Snowden on Chinese soil ended with his departure for Moscow and
      800 words
    • Article, Illustration
      Lock icon Tougher challenges lie ahead for Italian PM
      1015 18  -  After pulling Italy back from brink, Letta faces tests on tax, jobs and privatisation fronts REUTERS BREAKINGVIEWS By HUGO DIXON I TALY’S new prime minister, Enrico Letta, is making the best of a bad job. After February’s inconclusive election, it looked like Italy’s
      PHOTO: REUTERS  -  1,015 words
    • Article, Illustration
      Lock icon Making a strategic connection
      1260 19  -  Abe’s second innings as PM boosts process of Tokyo quietly helping India lay a strong foundation for economic growth ANTHONY ROWLEY Tokyo Correspondent INDIA will need 20 years to catch up with China’s current level of economic development, says Hiroshi Watanabe, executive managing director of Japan
      PHOTO: REUTERS  -  1,260 words
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      Lock icon Chinese economy is becoming a monster
      801 19  -  WILLIAM PESEK The writer is a Bloomberg View columnist Bloomberg THE world has grown used to the idea that China’s leaders are masterful stewards of their gargantuan economy. They steered brilliantly around the iceberg of the 2008 financial crisis, maintaining growth of near-double-digit rates.
      Bloomberg; FILE PHOTO  -  801 words
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  • Transport HUB
    • Article
      Lock icon Shrinking the carbon footprint
      767 20  -  One way being promoted is to use LNG but, as in just about everything, there are always at least two sides to the story STRAIT TALK By DAVID HUGHES SENIOR figure in the bunker industry told me recently that he believes the sector is about to
      767 words
    • Article
      Lock icon Oil tanker rates rise but glut limits gains
      410 20 Firmer bookings help earnings on Mideast route inch higher Reuters [LONDON] Crude-oil tanker earnings on the major Middle East route inched higher on Monday helped by firmer bookings, although the weight of available vessels for hire limited gains. The world’s benchmark VLCC
      Reuters  -  410 words
    • Article, Illustration
      Lock icon Africa acts to tackle piracy, maritime crimes
      697 20 AP [YAOUNDE, Cameroon] The heads of state and government from 25 West and Central African countries along the Gulf of Guinea met in Cameroon’s capital to address escalating piracy, trafficking and other illicit activities in the strategic region. The United Nations Security Council
      AP; PHOTO: AFP  -  697 words
    • Article
      Lock icon Guangzhou Shipyard falls on plan to sell new shares
      336 20 Bloomberg [NEW YORK] Guangzhou Shipyard International Co, a unit of the nation’s biggest shipbuilder, fell the most in 15 years in Hong Kong trading after unveiling plans to sell new shares and buy a shipyard. Guangzhou Shipyard plunged as much as
      Bloomberg  -  336 words
    • Article
      Lock icon Nicaragua canal lands global funding: billionaire
      199 20 Bloomberg [BEIJING] Wang Jing, the Chinese billionaire behind a US$40 billion plan to cut a canal through Nicaragua, said he’s successfully attracted global investment for the project. Work on the canal should start by the end of 2014 and be completed within six years,
      Bloomberg  -  199 words
    • Article
      Lock icon TRANSPORT STOCKS
      232 20 SGX '000 Jun 25 S$ +/-Vol CH Offshore 0.43 0.01 90 Chuan Hup Hldg 0.25 -0.01 265 Cosco Corp 0.75 -0.01 1093 s$ Ezra Hldgs 0.92 0.02 3754 First Ship Lea CH Offshore Freight Links Cosco Corp Grand Banks.............unch unch 0 Jaya Hold Ltd 0.56 unch 117 K1Ventures
      232 words
    • TRANSPORT HUB: AVIATION
      • Article, Illustration
        Lock icon e-freight@Singapore launched with 14 early adopters
        343 21  -  Initiative can save 1.7 million man-hours and $18.4 million yearly By JOYCE HOOI THE push for a paperless air cargo industry took off yesterday with the launch of the e-freight@Singapore programme. Of the 37 firms that had committed to the initiative, 14 have become
        343 words
      • Article
        Lock icon Delta, Virgin aim to win more London-NY traffic
        622 21 Bloomberg [ATLANTA] Delta Air Lines Inc and Virgin Atlantic Airways Ltd will adjust schedules between New York and London, one of the world’s busiest routes for premium travel, to help woo fliers from British Airways and American Airlines. With Delta’s purchase of
        Bloomberg  -  622 words
      • Article, Illustration
        Lock icon Upgraded LA terminal makes travellers want to stay
        535 21 AP [LOS ANGELES] A newly renovated terminal at Los Angeles International Airport could make it tough to remember there’s a plane to catch. When it opens in August, the cavernous Tom Bradley International Terminal will highlight the excesses of Los Angeles, with
        AP; PHOTO: AP  -  535 words
      • Article, Illustration
        Lock icon AirAsia calls it quits on Japan joint venture
        649 21  -  Loss-making AirAsia Japan to continue flights until Oct 31 By JOYCE HOOI AIRASIA is dissolving its troubled AirAsia Japan joint venture with ANA Holdings, barely a year after the fledgling airline’s first flight got off the ground, the Malaysian budget carrier said
        649 words
    • TRANSPORT HUB: LAND
      • Article, Illustration
        Lock icon Nissan CEO promises strong sales growth to shareholders
        511 22 Carlos Ghosn also tells them he was paid 988m yen for the past fiscal year AP [YOKOHAMA, Japan] Nissan chief executive Carlos Ghosn promised strong sales growth to shareholders yesterday in a turnaround from natural disasters and a boycott in China set
        AP; PHOTO: AP  -  511 words
      • Article
        Lock icon Chattanooga VW plant awaits its fate
        544 22 Execs won’t say if it will be expanded to make new SUV AP [CHATTANOOGA, Tennessee] Volkswagen (VW) calls its Chattanooga plant a global model for energy conservation and efficient production. But executives remain tight-lipped about whether the facility is in line to produce a
        AP  -  544 words
      • Article
        Lock icon Tesla a tough sale given its pricey valuation
        466 22 Bloomberg [NEW YORK] Tesla Motors Inc, a long-speculated takeover target, just removed a barrier to a deal by paying off a US government loan. The problem for would-be suitors is it’s also become the world’s most expensive carmaker. The loan had contained
        Bloomberg  -  466 words
  • Page 20 Advertisements
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      101 20 sjassasss^ 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 hlshuman resource Patient Record System safetypharmaceutical Innovation SUPPLY CHAIN Mr facilities management Data Storage DRUGS RFI0 Advancing Asia's Heartbeat
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  • Page 21 Miscellaneous
    • Miscellaneous
      Lock icon Page 21 Miscellaneous Column 1
      362 21 CRYPTIC CROSSWORD Across 1 Make light of drama not working (4,4) 5 Wet independent unseating Nationalist could be dismal for Scots (6) 9 Like James Bond’s car? Wow! (8) 10 Crank letters part of chain? On the contrary (6) 12 Off and on he has Rowling bug (6) 13 Verdict
      362 words
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  • Page 22 Advertisements
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      264 22 STCARS IS NOW ON IPAD You won't miss a turn with STCars at your fingertips! LATEST ADDITION TO OUR STCARS MOBILE FAMILY! All > New Carj Found Audi 87 Sportbaok 4.0 Audi no GT Spyder 5.2 FSI n fir- y, 'Sa--ctu I OPC 2.0 Turbo (M) Audi R8 Spyder 5.2
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  • Article
    Lock icon SHIPPING TIMES
    2755 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
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  • Page 24 Advertisements
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      Lock icon Page 24 Advertisements Column 1
      157 24 Importers looking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES Shipping Times FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? the business times TO ADVERTISE, CALL JOE
      157 words
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      Lock icon Page 24 Advertisements Column 2
      0 24 _;,";[,$&+>|?=!,%**]{^>>%[|,]}'
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      3164 25 Transaction date: Jun 25 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 8.8 3 A-Sonic Vol Day Last Quote Div Gr Yld Net 188 106 AIMSAMPIReit 157 +0.5 765 157.5 154
      3,164 words
    • Article
      Lock icon SGX CATALIST
      262 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 2.4 1.3 t Advanced System 1.4 unch 350 1.4 1.4 1.4 1.5 22.3 Last Quote Div Gr Yld Net M Cap High
      262 words
    • Article
      Lock icon UNIT TRUST & FUNDS
      11021 26 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** Aberdeen Asset Mgt Asia Limited APS Alpha Fund (USD)!** 1.08/ Aberdeen Asset Mgt Asia Limited Global Emerging Markets!** ...2.7444/ EM local Ccy Bond .0.9272/ European Opportunities!" 1.1307/ Global Emerging Markets!” Global Opportunities/” 1 7626/ Global
      11,021 words
    • Article
      Lock icon GLOBALQUOTE
      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 $mil 49.1 25 AVJennings A43.5 unch 5 43.5 43 40 46 3.6 8 3.5 161.1 52 30.5 Genting HK US$ US41.5 -2 ***** 44 39 41.5 42 2732.6
      262 words
    • Article
      Lock icon SGX ETF
      955 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 129.8 125.7 126.6 114.4 99 CIMB APAC Div 100US$ US99.2 98.5 99.3 10.4
      955 words
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      643 27 Jun 25 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.62 *****.89 *****.22 Sep13 *****.00 *****.00 *****.00 *****.00 *****6 *****0 Dec13 *****.00 *****.00 *****.00 *****.00 0 ***** MSCI TAIWAN INDEX FUTURES SPOT 275.13 277.50 272.57 Jun13 274.50 276.80 268.60 273.60 ***** *****7 Jul13 268.80
      643 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 27 In local curr In S$ In US$ dy yr dy yr dy yr Jun 24 Index Change Change Change Change Change Change World Preliminary 1003.7 -1.7 7.0 -1.6 9.2 -1.7 4.3 EAFE Preliminary 813.9 -1.6 5.1 -1.5 4.3 -1.7 -0.3 Europe Preliminary 1149.9 -1.7 0.2
      373 words
    • Article
      Lock icon INTERBANK CROSS RATES
      471 27 Jun 25 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.972 5.703 0.706 7.195 55.311 92.185 0.904 10.761 2.964 1.192 91.745 40.316 1.180 9.257 0.866 27.936 28.720 0.601 0.928 Canada 1.029 5.869
      471 words
    • Article
      Lock icon SIBOR
      66 27 Jun 25 (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$) 0.***** 3 mths 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths 0.***** SWAP Mid
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    • Article
      Lock icon PRECIOUS METALS
      137 27 Jun 25 GOLD(US$/oz) Jun 25 Jun 24 Hong Kong 1297.50 1303.00 Jun 24 Jun 21 London 1286.09 1288.99 1286.97 1290.71 Source: Thomson Reuters CAST BAR Jun 25 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 119 53 5gm 337 263 10gm 602 527
      137 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      94 27 Jun 25 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 19-Sep-13 0.26 6-Month BS*****X 27-Dec-13 0.29 0.26 0.26 1-Year BY*****H 02-May-14 0.28 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-15 99.76 99.84 99.84 5-Year
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    • Article
      Lock icon PALM OIL
      57 27 Jun 25 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 13 2386.0 2400.0 2409.0 2385.0 654 2260 Aug 13 2412.0 2412.0 2422.0 2399.0 7809 ***** Sep 13 2408.0 2412.0 2421.0 2396.0 ***** ***** Oct 13 2404.0 2409.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 27 Jun 25 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1798 1.1809 0.9274 0.9279 Canadian dollar 1.2144 1.2150 0.9547 0.9546 Euro 1.6718 1.6727 1.3141 1.3143 NZ dollar 0.9900 0.9905 0.7782 0.7783 Sterling pound 1.9648 1.9659 1.5444 1.5447
      155 words
    • Article
      Lock icon CHICAGO BOT
      109 27 Jun 24 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 13 1512.00 1493.25 1514.00 1485.50 Aug 13 1421.25 1413.75 1423.25 1401.00 Sep 13 1316.75 1315.75 1318.00 1300.25 Nov 13 1273.50 1273.50 1275.00 1255.00 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 13
      109 words
    • Article
      Lock icon LIFFE
      95 27 Jun 24 COCOA (£/tonne) Close Prev High Low Jul 13 1413 1420 1425 1404 Sep 13 1428 1437 1440 1420 Dec 13 1439 1449 1452 1432 Mar 14 1441 1453 1454 1435 COFFEE(US$/tonne) Close Prev High Low Jul 13 1749 1735 1753 1730 Sep 13 1761 1743 1768 1740
      95 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1138 27 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 0.4 1 146 722 44.50 11 Acma Ltd. W*****6 Ratio Albedo Limited W*****9 Price Prem Disc Asiatravel.com HoldingsW*****7 1 1 25 13 Asiatravel.com HoldingsW*****5 2 1 27 37
      1,138 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 27 CRUDE OIL PRODUCTS Jun 24 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 100.07 -0.60 WTI (Near Mth) 95.04 1.02 Dubai (1-Mth F) 97.43 -2.09 Tapis blend 104.44 -2.15 Minas 100.89 -2.15 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 93.14 -1.25 Jet Kerosene 113.99 -2.87 US$/barrel OpecOil Basket
      70 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      22 27 Jun 25 S$ Bid Offer 1-month 1.2721 1.2727 2-months 1.2721 1.2728 3-months 1.2722 1.2729 6-months 1.2722 1.2731 Source: OCBC
      22 words
    • Article
      Lock icon LONDON METALS
      65 27 Jun-24 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1725.60 1747.55 3 months 1771.50 1793.00 Copper, Grade A(US$/tonne) Cash 6637.75 6785.00 3 months 6670.00 6818.00 Lead(US$/tonne) Cash 1987.75 2013.75 3 months 1995.00 2023.00 Nickel (US$/tonne) Cash *****.00 *****.50 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months *****.00
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 27 As at 9am Jun 25 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.208 1.151 Can dollar 1.236 1.189 Euro 1.712 1.631 Sterling pound 2.006 1.929 NZ dollar 1.012 0.974 US dollar 1.302 1.240 Local dollars to 100 units of foreign
      121 words
    • Article
      Lock icon INTERBANK RATES
      157 27 Jun 25 $S Offer Bid 0vernight 0.03 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.05 US$ 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 0.55 0.35 9 months 0.65 0.45 12
      157 words
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  • executive Money
    • Article, Illustration
      Lock icon Stampede out of the bond market
      1023 28  -  Selling has been most visible among retail investors, who have sold a record US$48b worth of shares in bond mutual funds so far in June By NATHANIEL POPPER, PETER EAVIS NYT WALL Street never thought it would be this bad. Over the past two
      NYT; PHOTO: BLOOMBERG  -  1,023 words
    • Article
      Lock icon Equities set to be asset class of choice
      1592 28 Bloomberg [NEW YORK] US Treasuries are now providing less than half the yield of stocks, giving investors little reason to keep the three-decade bull market in bonds alive as housing starts, consumer confidence and corporate profits point to an improving economy. While
      Bloomberg  -  1,592 words
    • Article, Illustration
      Lock icon Time still right to ride the liquidity wave
      666 29  -  Markets are repositioning for a recovery in the second half of 2013, saysHAREN HAREN SHAH The writer is chief investment strategist, investment strategy group, wealth management, Citi Asia Pacific. HERE we are again, wondering what the second half of 2013 has in
      PHOTO: AP; Source: Citi Research, Haver as of May 3, 2013  -  666 words
    • Article
      Lock icon Golden age of emerging markets ends
      865 29 Reuters [LONDON] A decade of improvement in emerging market credit ratings is coming to an end as higher borrowing costs and commodity price falls threaten to lay bare many countries’ failure to reform during the good times. Between 2007 and 2012, emerging economies earned
      Reuters  -  865 words
    • Article
      Lock icon Gold wagers slump as drop in value of ETPs hits US$54b
      873 29 Bloomberg [NEW YORK] Hedge funds cut bets on a gold rally by the most since February after the Federal Reserve laid out plans for reducing stimulus and this year’s drop in the value of ex-change-traded products (ETPs) extended to
      Bloomberg  -  873 words
  • Page 28 Advertisements
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      30 28 I SMAPORES 1 HOT “>rre!T WTS LIGHTNING STRIKES CATCH THE ALL NEW NISSAN HOT FM91.3 THUNDER TRUCK TUNE IN TO HOT FM91.3 FOR MORE INFO WWW.HOTFM.SG I FACEBOOK.COM/HOTFMSG 3* HOTFMSG
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      Lock icon Page 28 Advertisements Column 2
      24 28 www.omy.sg lifestyle.omy.sg r I SMTis 0££0 0#-0 0tsfi 01r^X omy News iOS Google Play 0 0 0 0&^0 0£r^X omy Showbiz jOS Google Play
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      Lock icon Page 29 Advertisements Column 1
      64 29 Looking for a Platform to showcase your Maternity or Ba&y relateP ProPucts/services? 2013 The Marketplace for New Expecting Parents V 12-14 July 2013 Singapore expo Great Peals! Exciting programs! Reach out to More than 80,000 Parents! BOOK* NOW! •LimHet Booths availaBle! For more information, please email to ms Angela Phua
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      Lock icon Page 29 Advertisements Column 2
      60 29 LOOKING FOR A PLATFORM TO SHOWCASE AND PROMOTE YOUR PRODUCTS? ii M FOOD ELECTRONICS BAZAAR 2013 19-21 July 2013 Singapore Expo Hall 6 4th year running Attracting more than 120,000 visitors ft f BOOK NOW! booths available! For more information, please contact Ms Adeline Goh (9681 8289) gohtna@sph.com.sg Mr Frankie
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      Lock icon Page 30 Advertisements Column 1
      87 30 hHm> M listeners May 2013 Making kiss92 the No.3 English radio station in Singapore mfiOb **listeners Oct 2012 Ia.u KxJn Sep 2012 4 months to birth a baby. from 0 to 419,000 listeners. Thank you for allowing us to dream big and reach new heights. KISS92 FM All the great
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  • Banking in Singapore
    • Article, Illustration
      Lock icon An ever-growing landscape
      1682 1  -  Singapore’s banking sector has come a long way SIOW LI SEN traces its remarkable history SIOW LI SEN L AST month, the $4-billion Marina Bay Financial Centre (MBFC) was officially opened by Prime Minister Lee Hsien Loong, marking the fruition of an idea which goes back almost
      1,682 words
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      Lock icon From overdrafts to Internet banking
      1363 2  -  DBS chairman Peter Seah recalls the major events in the post-independencehistory of Singapore’s financial sector. SIOW LI SENhas the details SIOW LI SEN BEFITTING its financial centre status, Singapore’s downtown has a dizzying array of tall, ritzy buildings with ra-zor-sharp angles and curved facades, dwarfing
      PHOTO: YEN MENG JIIN  -  1,363 words
    • Article, Illustration
      Lock icon Building blocks
      171 2 Key developments in the banking sector over the years 1965 Singapore's independence 1967 Board of Commisioners of Currency established the Orchid Series of currency notes (above) was the earliest to be issued for circulation here during the years 1967-1976 1971 The Monetary Authority of Singapore established 1973 Start
      171 words
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      Lock icon Keeping up with customer needs
      1982 3 BANKING in Singapore has changed enormously over the past 40-50 years. Walk into any bank branch today and customers will be awed by banking halls with gleaming marble or amused by “trekkie”–inspired spaces, complete with pods for privacy. Then there are the lovely meet-and-greet ambassadors.
      1,982 words
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      Lock icon Gearing up for growth
      857 4  -  Bank of Singapore will continue to expand even as the private banking industry in Asia consolidates, its CEO tells KAN KWOK LEONG KAN KWOK LEONG RISING costs and stiffer competition in Asia’s private banking sector is likely to result in smaller players falling by the wayside,
      857 words
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      Lock icon An industry shakeout
      204 4 BSI Italy’s Generali has been trying to sell its Swiss private bank BSI for the past two years. The insurance giant built up BSI through a series of acquisitions following the financial crisis. A consortium made up of Spanish lender Bankinter and US investment fund Apollo Global
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      Lock icon The flourishing of home-grown talent
      980 4  -  More Singaporeans are stepping up to the top jobs at international financial institutions here, reportsKAN KAN KWOK LEONG AS Singapore continues to develop into one of the world’s premier financial services sector, the deepening of the local talent pool has led to more Singaporeans assuming
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      2129 5 WHEN the “big boys” of investment banking started moving into Singapore in the 1970s, little did they know that this city-state would become a global financial hub, the fourth largest foreign exchange centre in the world and a challenger to Switzerland’s private banking crown.
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      261 6 CEO’S MESSAGE AMID challenging economic conditions and growing competition, Bank of Singapore has cemented its position as one of the region’s leading private banks in just a few short years. Indeed, the bank has grown rapidly since its inception in January 2010, during the depths of the
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      719 6 THE Bank of Singapore was launched in January 2010 following the acquisition of ING Asia Private Bank (IAPB) by Oversea-Chinese Banking Corporation Limited (OCBC Bank). The private banking businesses of IAPB and OCBC Bank were then combined to create the first and only
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      307 8 CEO’S MESSAGE SINGAPORE is a priority growth market and important hub for HSBC in Asia. For over 135 years, we have invested in Singapore, supporting its growth and transformation from a British colony to a modern and thriving metropolis today. Against challenges in the macro-economic environment, we have persevered
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      1566 8 HSBC has been a significant presence on Singapore’s banking landscape since it opened its doors in 1877 at Collyer Quay, where its flagship office still remains to this day. Today, the bank offers a broad range of banking and financial services tailored to meet a wide spectrum
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      32 1 CONTENTS From overdrafts to Internet banking PAGE 2 I Keeping up with customer needs PAGE 3 I Gearing up for growth PAGE 4 I Growing as a global financial hub PAGE 5
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      110 6 Even after you've come this far, some things never change. rf 1 A' -jr With offices in Singapore Hong Kong Philippines Dubai BANKOFSINGAPORE International Private Banking Voted Best Private Bank in Singapore 2012 by Asian Private Banker o W yr 4? T :s Like you, we believe in the timeless
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      876 7 DBS-Born in Singapore, Leading in Asia A 41 BP 1 llii "As DBS expands, the bank will continue to leverage its deep understanding of the region, local culture and insights to serve all stakeholders, and build a better future for Asia." FOUNDING YEARS AS SINGAPORE'S DEVELOPMENT BANK DBS Bank was
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      1374 9 Widely recognised by the signature Chinese junk that is integral to our brand logo, OCBC Bank is a truly diversified financial services enterprise with capabilities spanning commercial, investment, private and transaction banking; as well as treasury, insurance, wealth management, asset management and stockbroking services. With a heritage that can be
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      1033 10 A special feature brought to you by Standard Chartered Standard Chartered BANKING IN SINGAPORE SINCE 1859 An anniversary is an ideal time to look back and reflect, and to look forward and plan. Today, Standard Chartered is an international bank with over 1,700 outlets in 68 countries in Asia Pacific,
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      1020 11 UBS serving clients and community for close to 40 years in Singapore UBS first established a presence in Singapore in the 1970s. Today, UBS has over 2,000 employees across our wealth management, investment banking and global asset management businesses here. As a global bank, we are truly multinational and multicultural,
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