The Business Times, 2 July 2013

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Total Pages: 30
1 30 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Tuesday, July 2, 2013
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  • 905 1  -  But with investors becoming more cautious, valuations may have to be adjusted By ANDREA SOH [SINGAPORE] In spite of recent turmoil in equity markets around the world, the active initial public offering (IPO) market in Singapore looks set to continue in the second
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  • MARKETS DIGEST
    • 65 1 HST INDEX 3,140.93 (-9.51) HST INDEX FUTURES 3,135.00 (-10.00) HSIMSCI 351.97 (-2.17) HSIMSCI FUTURES 350.90 (-2.50) US$ S$ US$ (S$ per US$) 1.267 (US$/S$ per 1.520 1.926 EURO (US$/S$/€ 1.304 1.653 Foreign currency per US$ S$ YEN 99.60 78.60 RM 3.163 2.496 HK$ 7.756 6.121 BAHT 31.00 24.46 RUPIAH
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    • 48 1 Monday Change KL COMP 1,775.14 +1.60 NIKKEI 225 13,852.50 +175.18 HANG SENG 20,803.29 +363.21 SET INDEX 1,451.90 +5.45 JAKARTA COMP 4,777.45 -41.44 MANILA COMP 6,526.62 +61.34 SEOUL COMP 1,855.73 -7.59 SHENZHEN B 776.73 +0.79 MUMBAI IND 19,577.39 +181.58 12noon EDT Change DOW 15,070.60 +161.00 NASDAQ 3,452.77 +49.52
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    • 21 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.366 TAIWAN BRITAIN JAPAN US KOREA 9.33 BRITAIN 0.50 Source: Bloomberg
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  • 735 1  -  By AYISHAH MA EJ Insight [HONG KONG] China’s vast factory sector is slowing down, and tight liquidity in the banking system will not make things any easier. A pair of surveys released yesterday showed that factory activity had slumped to multi-month lows. The
    EJ Insight; PHOTO: REUTERS  -  735 words
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    • 143 1 SME Inc Catching up on family time at work PAGE 12 COMMENTARY Make S’pore the region’s ‘digital hub’ PAGE 23 COMPANIES Wilmar: Where there’s smoke, we will fire PAGE 9 PROPERTY HDB resale price growth in Q2 at four-year low PAGE 11 The Singapore Personal Data Protection Act (PDPA) came
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    • 10 1 Trade figures missing from China factory output report, Page 17
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  • TOP STORIES
    • THREE-MINUTE DIGEST
      • 54 2 IN spite of recent turmoil in equity markets around the world, the active initial public offering market in Singapore looks set to continue in the second half of the year. Nonetheless, IPO valuations might have to be adjusted for the increased market
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      • 42 2 CHINA’S vast factory sector is slowing down and tight liquidity in the banking system will not make things any easier. A pair of surveys released yesterday showed that factory activity had slumped to multi-month lows.
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      • 58 2 URBAN Redevelopment Authority’s second quarter flash estimates showed that its benchmark private home price index rose 0.8 per cent from Q1, supported by a 3 per cent rise in prices of non-landed homes in suburban areas. This compares with respective increases of 0.6
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      • 80 2 JAPANESE business confidence turned sharply higher last month, the Bank of Japan reported yesterday, largely as a result of the central bank’s own dramatic monetary easing, which pushed exports and corporate profits up on the back of a weaker yen. Stock and other asset prices
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      • 51 2 EVEN as property stocks fell across the board yesterday, following Friday night’s announcement of a new Total Debt Servicing Ratio, the dips were measured compared to market reaction following previous cooling measures. The FTSE ST Real Estate Index dipped 5.67 points to close at 734.24
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      • 66 2 OIL and gas exploration and production company KrisEnergy, established by the founders of former-listed Pearl Energy, is all set for an SGX listing. In a preliminary prospectus lodged with the Monetary Authority of Singapore yesterday, KrisEnergy said it is making a share offer
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    • 973 2  -  Pricing seen as flat for new launches; MAS rules could hit 10-20% of buyers By KALPANA RASHIWALA [SINGAPORE] The Urban Redevelopment Authority’s second quarter flash estimates showed that its benchmark private home price index rose 0.8 per cent from Q1, supported by a 3 per
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    • 770 2  -  By TEH SHI NING [SINGAPORE] Singapore has fallen out of the top three on an annual ranking of the most innovative economies, slipping five rungs to place eighth on the 2013 Global Innovation Index (GII) leaderboard. The fall was due to a
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    • 400 2  - Ernst Young is now EY, has new boss By MICHELLE QUAH [SINGAPORE] Professional services firm Ernst Young, now rebranded as EY, has named Mark Weinberger, 51, as its new global chairman and CEO. Besides having served in various senior positions within the firm, Mr Weinberger was also the assistant secretary
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    • 914 4  -  Result is due to the central bank’s own dramatic monetary easing By in ANTHONY ROWLEY in Tokyo JAPANESE business confidence turned sharply higher last month, the Bank of Japan (BOJ) reported yesterday, largely as a result of the central bank’s own dramatic monetary easing,
      PHOTO: AFP  -  914 words
    • 729 4  -  By GRACE LEONG [SINGAPORE] Haphazard. Overwhelmingly unsystematic, arbitrary, and, ultimately, opportunistic. These were among phrases used by the Court of Three Judges to describe the manner in which Dr Susan Lim assessed a $24 million bill to the Brunei government for services she and
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  • Page 3 Advertisements
    • 210 3 RICHARD MILLE A RACING MACHINE ON THE WRIST 8i r n m s r m 20 C 'j 35. s S3 i* s 4* w. n 4 f V N i V 35 SWis r S30 Made 25 4 lvw> RM 022 “AERODYNE" DUAL TIME ZONE or>* Baseplate of honeycombed
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  • Page 5 Advertisements
    • 124 5 IN THE VERY HEART OF SHANGHAI Standing tall beside Jing An Kerry Centre in the Central Business District, on West Nanjing Road, is a thriving 450,000 sq metre hub of art, entertainment, and business that pulsates with boundless energy. Here you will find over 500 rooms with spectacular views, the
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  • COMPANY NEWS
    • 558 6  -  Falls following latest govt measures milder compared with previous curbs By MINDY TAN EVEN as property stocks fell across the board yesterday, following Friday night’s announcement of a new Total Debt Servicing Ratio (TDSR), the dips were measured compared to market reaction following previous
      PHOTO: REUTERS  -  558 words
    • 285 6  -  By KENNETH LIM RECENTLY acquired Fraser and Neave (F&N) has begun the process of integrating with newly related company Thai Beverage Public Co by creating two senior appointments. Ng Jui Sia, the chief executive of F&N’s Malaysia-list-ed F&N Holdings Bhd, has been appointed as CEO
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    • 249 6  -  By BENJAMIN AW YING LI International Real Estate Limited has appointed Tan Kiang Hwee as its group chief operating officer. The appointment took effect yesterday. “Mr Tan will be based in Singapore and Chongqing initially and will relocate to Chongqing early next year,” said Ying
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    • 209 6  -  By ONG CHOR HAO PROPERTY giant CapitaLand can now lay claim to owning Singapore’s largest self storage company, following a move to acquire the business behind four self storage facilities here. In a regulatory filing yesterday, CapitaLand said it bought all of BSG Holdings through
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    • 551 6  -  IPO placement shares launched at 48 cents each By LYNN KAN INTERNATIONAL Healthway Corporation (IHC) will be the largest counter on the Catalist board with a market capitalisation of $770 million after it lists next Monday. IHC, which provides healthcare services by
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    • 653 7  -  Oil and gas exploration firm planning offer at up to $1.10 per share By RONNIE LIM OIL and gas exploration and production company KrisEnergy (KE), established by the founders of former-listed Pearl Energy, is all set for a listing on the Singapore Exchange. In a
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    • 362 7  -  By LEE MEIXIAN IN WHAT it calls a strategic investment in new technologies, Sembcorp Industries has inked a deal to invest 30 million Norwegian kroner (S$6.4 million) in Biowater Technology, a Nor-way-based company that engineers technologies to treat municipal and industrial wastewater.
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    • 293 7  -  By LIVIA YAP SINGAPORE-based Asian American Medical Group (AAMG) yesterday announced a three-year services agreement with Hanoi’s Vinmec International Hospital for a liver centre there. The setting up of Viet-namese-American Liver Center, based in Vinmec International Hospital, will commence this
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    • 223 7  -  By NG ZHUO YANG LOCAL systems integrator CNA Group Ltd yesterday inked a memorandum of understanding with its real estate partner in Thailand, West East International (WEI), and Tokyo-listed Tama Home Co Ltd to design and build homes targeted
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    • 563 9  -  Golden Agri, April, First Resources also say they are against slash and burn By JOYCE HOOI WILMAR International drew a line in the sand yesterday, saying that it will not tolerate illegal landclearing from its suppliers. “Should they be found to be involved
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    • 301 9  -  By CARINE LEE OKP HOLDINGS yesterday said it has been awarded the $6.7 million PUB contract for the improvement works of Stamford Canal. Secured by its wholly owned subsidiary Or Kim Peow Contractors (Pte) Ltd, the contract raises OKP’s order book to $415.2 million.
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    • 751 9  -  Oil gas firm sets up global HQ here; eyes S-EA deals By RONNIE LIM SWEDISH oil gas exploration and production (E&P) player Rex International Holding has just set up its global headquarters here and is seeking a listing on SGX’s Catalist. Its chief executive
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    • 344 9  -  By NELSON LEE SEMBCORP Marine’s PPL Shipyard has clinched two turnkey contracts to build two jack-up rigs worth US$417 million from Mexican oil and gas firm Integradora de Servicios Petroleros Oro Negro. This brings the rigbuilder’s Pacific Class 400 jackup rigs ordered by Oro
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    • 220 9  -  By JOYCE HOOI OTTO Marine has sold a multi-pur-pose field support and remotely operated vehicle (ROV) support vessel for about US$50 million in a sale-and-leaseback deal. The vessel was sold by one of Otto Marine’s wholly owned subsidiaries to RY Offshore
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  • Page 6 Advertisements
    • 173 6 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 Panel Discussion
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    • 133 6 Food Services w in Healthcare^) 2013 19 August 2013 Marina Bay Sands, Singapore Food Services in Healthcare Summit is Asia's first of its kind conference created specially for dietitians, nutritionist and professionals in the healthcare food services sector. Key distinguished speakers include Ms Christine Lee Director of Operations, Mahkota Medical
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    • 106 6 GUTS VMH a v s premiums Fair 5itSi "S^poAsia a "o.12July2013t°'«' n your visiiat^ petition! and edge ahead otm 10-12 July 2013 Level 1, Hall B&C Marina Bay Sands, Singapore Organised By: BIZLINK Blk 8 Lorong Bakar Batu, #07-07 Singapore *****3 Exhibition Services Pte Ltd Tel: (65) 6848 5938 Fax:
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    • 25 6 www.omy.sg im SnS E]j ill 30WRHES M 3 Vj^-ssdsftsa^i. :i" T; iJ (IIH«.1)) fiUTie I 0 0 0 £0 0 £0 0 0 omy News
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  • Page 7 Advertisements
    • 225 7 NEW LAUNCH H ESTCOM -f [7 i a r s. tel B Ufl r t i. Bi rr A-, >*%&[ *4&Mi m ~hmi£ss ■■> m m -0, r-'. EXCELLENT FUNCTIONALITY AND CONNECTIVITY A factory and warehouse development with ramp-up access for ground floor convenience. The Westcom, in the heart of
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  • SINGAPORE MARKETS
    • 600 8  -  With volume at its lowest level in weeks, the STI ended at 3,140.93 for a nett loss of 9.51 points. STOCKS R SIVANITHY Senior Correspondent THE closure of the Hong Kong Exchange for the Hong Kong Special Administrative Region Establishment Day holiday yesterday
      Source: Bloomberg  -  600 words
    • 186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 6 4 0 0 0 4 6 4 Manufacturing 47 59 24 7 8 11 54 67 35 Commerce 21 20 21 4 6 2 25 26 23 Tpt/Stor/Comms 7 17 13
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    • 123 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 30,099 30,099 55,377 55,377 Manufacturing 270,958 84,438 355,396 118,541 12,054 130,595 Commerce 144,064 54,825 198,889 83,981 5,111 89,091 Tpt/Stor/Comms 78,007 19,146 97,153 109,306 7,556 116,863 Finance 409,807 146 409,953 183,474 64 183,538 Construction 93,746 48,226
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    • 115 8 Stock name Close Change CapMallsAsia 1.795 -0.030 CapitaLand 3.010 -0.070 CapitaMall 2.000 +0.005 CityDev 10.530 -0.170 ComfortDelGro 1.835 DBS Grp 15.480 -0.020 GLP 2.760 +0.010 Genting SP 1.360 +0.040 Golden Agri 0.570 +0.010 HK Land 6.680 -0.190 HPH Trust US$ 0.735 JMH 61.300 +0.800 JSH 36.910
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    • 4 8 DAILY
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    • 72 8 Jul 1 VALUE CLOSE BT OB/OS -309.00-126.00 BT CADI -*****.00 -34.00 BT 10-day MA -*****.00 -31.00 FTSE ST Mid Cap 746.58 -4.13 FTSE ST Small Cap 562.11 +0.03 FTSE ST All Share 770.17 -2.50 FTSE ST China Top 193.67 -1.01 FTSE ST China 224.23 -2.05 FTSE ST
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    • 56 8 VOLUME Innopac 395,170,000 Mirach Energy 113,219,000 St James 100,989,000 SingHaiyi 84,708,000 Contel 48,872,000 YHM 47,827,000 IPCO Intl 43,674,000 Golden Agri 38,568,000 WE Hldgs 38,033,000 NexGenSCom 37,105,000 VALUE($) CapitaLand 49,317,770 Innopac 48,550,694 SingTel 46,254,520 DBS Grp 43,042,907 OCBC Bk 40,662,540 UOB 37,672,710 Genting SP 36,656,680 Keppel Corp 24,281,655
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    • BROKERS’ TAKE
      • 307 8 Singapore Property CIMB Research, June 30 THE Monetary Authority of Singapore (MAS) has introduced a total debt servicing ratio (TDSR) framework for all property loans granted by financial institutions (FIs) and refined certain rules on loan to value limits. The key features are: 1) FIs to factor
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      • 304 8 July 1 close: S$0.645 DMG Partners Research, July 1 WHILE SingTel and Yoma have lost the battle for Myanmar’s telco licences, NeraTel may score an indirect victory. This is because our checks show that both of the Myanmar license winners Telenor and Ooredoo are NeraTel’s existing customers. NeraTel
        Source: Bloomberg  -  304 words
      • 301 8  -  Compiled by ANDREA SOH Holdings July 1 close: S$0.965 Maybank Kim Eng, July 1 VARD issued a profit warning stating that it expects Q213 net profit to be lower than current consensus market estimates. Further delays and cost overrun at the Niteroi yard in Brazil resulted in additional
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    • 502 8 CURRENCIES Reuters [LONDON] The dollar was broadly steady yesterday but looked likely to push higher, boosted by prospects of the US Federal Reserve winding down its stimulus programme while other major central banks keep their monetary policies ultra-loose. The dollar lost
      Reuters; PHOTO: BLOOMBERG  -  502 words
    • 113 8 BY CENTS CLOSE UP GLD 10US$ ***** 464.9 3.2 DBXT MSKorea 10US$ 5325 206.5 3.2 JMH 6130 101.3 1.3 DBXT MSJAP 10US$ 4335 92.5 1.7 Jardine C&C 4332 81.0 1.9 JSH 3691 77.3 1.7 Lyxor MS India 10US$ 1290 76.0 4.9 DBXT STGLDv100 10US$ 2923 73.5 2.0 DBXT MSINDIA
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    • 121 8 BY CENTS CLOSE DOWN DBXT FTVietnam 10US$ 2179 -74.7 -2.6 Lyxor Europe 10 US$ 1311 -50.7 -3.0 Isetan 450 -45.0 -9.1 UOB.ES.1307 1969 -25.0 -1.3 HK Land 668 -24.1 -2.8 UOB 1962 -24.0 -1.2 Great Eastern 1720 -23.0 -1.3 UOL 654 -18.0 -2.7 CityDev 1053 -17.0 -1.6 OCBC Bk
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    • 5 8 DAILY
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  • Page 9 Advertisements
    • 82 9 without growing pains. What if you could double in size without doubling in complexity? With SAP ERP solutions, small and midsize companies gain unprecedented visibility across their entire operations, from managing sales, costs and inventory, to boosting efficiencies and Improving collaboration. This isn't just about better business processes: it’s about
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  • Page 10 Advertisements
    • 5312 10 THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. If Noteholders are in doubt about any aspect of the Proposal (defined below) and/or the action they should take, they should seek their own financial advice immediately from their stockbroker, bank manager, solicitor, accountant, tax adviser or other independent
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  • SINGAPORE NEWS
    • 699 11  -  But rising costs, new labour rules seen as two greatest operating challenges By MALMINDERJIT SINGH ALTHOUGH the rising cost of operating here may prove challenging for companies, businesses new and existing still find Singapore an attractive destination for their activities. But this
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    • 782 11  -  By ONG CHOR HAO PRICES of resale Housing Development Board (HDB) flats grew at their slowest pace in over four years in the second quarter, preliminary data show, as both demand and supply-side factors bit. Flash estimates of HDB’s
      Source: HDB  -  782 words
    • SINGAPORE ROUNDUP
      • 62 11 RISK management services provider DNV has broken ground for its new $15 million laboratory in Singapore, located at Gul Circle with a total land size of 5,500 square metres. Slated to be completed by Q1 2014, the new facility will provide a
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      • 45 11 THE Intellectual Property Office of Singapore and the Mexican Institute of Industrial Property signed a memorandum of understanding (MOU) yesterday to strengthen bilateral cooperation on intellectual property (IP) matters. The MOU will stay in force for three years.
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      • 67 11 SINGAPORE Cooperation Enterprise (SCE) has begun a new assignment with the Central Water Authority of Mauritius (CWA) to offer advisory services from Singapore to improve water supply network management for the Upper Mare aux Vacoas water supply zone in Mauritius. SCE will partner
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      • 61 11 THE Singapore Infocomm Technology Federation (SITF) has secured more than $3 million in pledged funding from investors for Singapore start-ups through its 123JumpStart programme. Aimed at nurturing and preparing young start-ups through a holistic approach, 123JumpStart provides access to resources and discounted solutions, training
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    • 322 11  -  By LEE U-WEN ONE of Singapore’s prominent private art collectors, Hsieh Fu Hua, is now the chairman of the National Art Gallery. Formerly the Gallery’s deputy chairman, Mr Hsieh took on the top post for a two-year term effective yesterday. He took
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    • 356 11  -  By ANNABETH LEOW ONLINE shopping may be increasingly popular among Singaporeans, but consumers are still hitting the malls more than clicking the mouse. E-commerce company Group on Singapore came to this conclusion by polling 750 of its subscribers, posing them 12
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  • Page 11 Advertisements
    • 315 11 A European education S S "E C with a global perspective BUSINESS SCHOOL Singapore No.5 W No.2 No.7 m 'V i f i FT Business School SHI Worldwide Rankings 2012 Master of Science in Management Advanced Master in Financial Techniques Executive Education (Open Enrollment) With campuses in Paris and Singapore
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  • SME Inc
    • 1226 12  - Catching up on family time at work Opening a Japanese restaurant gave Pan United’s Patrick Ng the opportunity to get close to his children. ByVICTOR VICTOR KATHEYAS SPENDING quality time together is important in order to bond with your children. Counter-intu-itively, perhaps, one way of doing that is to involve
      PHOTO: YEN MENG JIIN  -  1,226 words
    • 1202 12  -  It actually leads to actionable intelligence that gives you a business edge COMMENTARY By KEITH CARTER The writer is an adjunct associate professor in the Department of Decision Sciences at NUS Business School. This article was first published on the school’s Think Business
      PHOTO: AP  -  1,202 words
  • Page 12 Advertisements
    • 65 12 HAVE an interesting story on an SME to share? Drop us a note on why you think the company should be featured in our weekly SME Inc pages, with details such as how the company has grown and its expansion plans. Send your e-mail to Felda Chay at feldac@sph.com.sg with
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  • MALAYSIA/INDONESIA
    • 759 14 Full impact of the govt’s recent fuel price hike has yet to be felt Reu ters [JAKARTA] Indonesia’s inflation rate increased less than expected in June as the full impact of the government’s recent fuel price hike has yet to be felt in South-east Asia’s
      Reuters  -  759 words
    • 623 14  -  By S JAYASANKARAN in Kuala Lumpur A CONTROVERSIAL bill that will allow a single parent or guardian to determine the religion of a minor is stoking protests from non-Muslim and legal groups who view it as discriminatory and unconstitutional. The bill, an amendment to
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    • 313 14 [PUTRAJAYA] The Malaysian Anti-Corruption Commission has set up a mul-ti-agency task force to investigate allegations of graft against Sarawak Chief Minister Abdul Taib Mahmud. The task force consists of representatives from agencies such as the Attor-ney-General’s Chambers and the MACC itself to “speed
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  • Page 14 Advertisements
    • 115 14 The SME Magazine coming to you with your copy of The Business Times tomorrow! IN THIS ISSUE: 2 ,*/3)"3$ 1(*7 Differentiation is the key to clinching that deal. 2 01%’. 1& 13’7 How not having more than one outlet helped this company grow. 2 &"3’ )"3"3$7 How a 24-year old
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  • Page 15 Advertisements
    • 97 15 Building a better working world When business works better, the world works better. Ernst Young will now be known as EY. And our purpose? To build a better working world. How do we create better? By inspiring trust in the capital markets and helping to keep them flowing. By working
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  • GREATER CHINA
    • 1103 16 New breed eager to establish themselves as multinational conglomerates Reuters [MACAU] When junket operator Suncity opened its first high roller baccarat table at Steve Wynn’s Macau casino in 2007 to lure China’s wealthiest punters, the firm had fewer than 30 employees and no computers or
      Reuters; PHOTO: REUTERS  -  1,103 words
  • Page 16 Advertisements

  • GREATER CHINA/INDIA
    • 568 17 Gas price hike to boost investment watered down to protect key sectors Reu ters [NEW DELHI] India has promised to protect key industries from the full impact of higher gas prices, taking the shine off a reform which may bring in more investment to
      Reuters  -  568 words
    • 751 17  -  By NEETA LAL in New Delhi IN a bid to revive investor sentiment in India, Prime Minister Manmohan Singh has set an ambitious target to unfurl projects worth US$20 billion in public-pri-vate partnership (PPP) mode by the end of this calendar year across infrastructure
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    • 446 17 Bloomberg [NEW DELHI] The best start to the monsoon in at least 12 years in India, the world’s second-biggest producer of rice, cotton and sugar cane, may spur plantings and curb consumer inflation in Asia’s third-larg-est economy. The country received 216.3 millimetres of
      Bloomberg; PHOTO: AFP  -  446 words
    • 142 17 Bloomberg [BEIJING] An official report on China’s manufacturing in June omitted numbers for export orders, imports and inventories of finished goods, without any explanation for the gaps. Five of 12 sub-indexes usually released with the Purchasing Managers’ Index were absent from yesterday’s
      Bloomberg  -  142 words
    • 274 17 Reuters [BEIJING] China yesterday formally launched an investigation into whether the European Union is subsidising and dumping wine in the Chinese market, potentially increasing its leverage in a dispute with the EU over solar panel imports. The Chinese government had initially targeted
      Reuters  -  274 words
  • Page 17 Advertisements
    • 1550 17 v WATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF ONE TWO HOLDINGS PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) COMPANY REGISTRATION NO. *****1644W NOTICE OF RESOLUTIONS NOTICE IS HEREBY GIVEN THAT AT AN EXTRAORDINARY GENERAL MEETING OF
      1,550 words
    • 457 17 IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF SUN HUNG KAI BULLION FUTURES PTE LTD. (IN MEMBERS' VOLUNTARY LIQUIDATION) COMPANY REGISTRATION NO.*****5123D NOTICE OF RESOLUTIONS NOTICE IS HEREBY GIVEN THAT AT AN EXTRAORDINARY GENERAL MEETING OF THE COMPANY DULY CONVENED AND HELD AT 42/F.,
      457 words

  • ECONOMY WATCH
    • 501 18 AFP [SYDNEY] New Australian Prime Minister Kevin Rudd unveiled his cabinet yesterday, bringing in a record number of women and switching the focus to the economy ahead of upcoming elections. Mr Rudd seized the leadership last Wednesday, three years after he was suddenly
      AFP  -  501 words
    • 930 18 Govt says deficit is coming down, signals further spending cuts Bloomberg [LONDON] UK spending plans unveiled last week increase certainty for companies to invest, Chief Treasury Secretary Danny Alexander said, as his Cabinet colleague Francis Maude signalled further government cuts. It’s the “right time
      Bloomberg; PHOTO: REUTERS  -  930 words
    • 701 18 Talks will focus on concrete steps on how to use EU funds AFP [BERLIN] Chancellor Angela Merkel tomorrow hosts EU talks on felling sky-high youth unemployment less than three months before German elections and after coming under fire for championing austere
      AFP; PHOTO: REUTERS  -  701 words
  • Page 18 Advertisements
    • 1997 18 ACMA LTD. (formerly known as China Auto Corporation Ltd) (Company Registration No *****0233E) (Incorporated in the Republic of Singapore) NOTICE OF EXPIRY OF WARRANTS TO: ALL HOLDERS OF THE ACMA LTD W*****6 WARRANTS TO SUBSCRIBE FOR NEW ORDINARY SHARES IN ACMA LTD. (THE “COMPANY”) THIS NOTICE IS IMPORTANT AND REQUIRES
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  • WORLD
    • 624 19 Germany says ‘bugging friends is unacceptable’ Cold War-style behaviour AFP Reuters [LORIENT, France] French President Francois Hollande said yesterday that Europe would not hold any negotiations with the United States until it is sure that spying on EU institutions has ended,
      AFP; Reuters; PHOTO: REUTERS  -  624 words
    • 366 19 Reuters [LONDON] British manufacturing recorded its strongest growth in more than two years in June and new orders rose even faster, in a fresh sign of momentum in the economy just as the Bank of England got a new governor. The Markit/CIPS
      Reuters; PHOTO: REUTERS  -  366 words
    • 477 19  -  By ANTHONY ROWLEY in Tokyo SUBDUED global trade requires new policies to sustain growth in the Apec region, the Policy Support Unit of the 21-member Asia Pacific Economic Cooperation forum (Apec) urged yesterday while suggesting that that the Apec economies have reached a “critical
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    • 260 19 Reuters [HELSINKI] Nokia shares surged yesterday after it announced plans to buy out Siemens AG’s share of their network equipment joint venture, betting on the technology to run 4G networks as it struggles in the smartphones business. Loss-making Nokia gains full
      Reuters  -  260 words
    • 423 19 Three-month high boosted by demand for cars, houses LATEST US DATA Bloomberg Reuters [NEW YORK] Manufacturing rebounded in June, showing that gains in the US housing market and stronger car sales are helping to stabilise the industry. The Institute for Supply Management’s manufacturing index
      Bloomberg; Reuters  -  423 words
    • 639 20 Separate set of figures show signs of improvement in manufacturing AFP [BRUSSELS] The economic crisis in southern Europe may be easing, a key survey signalled yesterday, but unemployment figures showed that the eurozone jobless rate hit a previous record high of 12.1 per
      AFP  -  639 words
    • 969 20 Secrecy crackdown, rising compliance costs fuel pullout Bloomberg [LONDON] For European lenders with private-bank-ing aspirations, a presence in Switzerland used to be a must. Now, with bank secrecy eroding and rising compliance costs chipping away at profits, more are saying adieu. The number of for-eign-owned
      Bloomberg  -  969 words
    • 451 20 AFP [ZAGREB] Tens of thousands of Croatians cheered the country’s entry into the European Union at midnight on Sunday as fireworks lit up the skies above Zagreb. It was a historic moment for the former Yugoslav republic, coming nearly two decades after it emerged
      AFP; PHOTO: AP  -  451 words
    • 811 20 Reuters [LONDON] Just as Britain’s government is trying to clear a path for the politically sensitive sale of its 39 per cent stake in Lloyds bank, resentment is brewing among the investors who would be expected to buy the stock. Some fund
      Reuters; PHOTO: BLOOMBERG  -  811 words
  • Page 19 Advertisements
    • 52 19 HOT PROPERTY ■i SBMB office L e a oaT C OM S T V r t,0n condi nirp Good n et carpark™ »5W High Fir. Near MRT. AvainJt LOOKING FOR HOME OFFICE? Check this and many other properties in CATS Classified in The Straits Times now! WATS BUY IT• SELL
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    • 24 19 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
      24 words


  • AVIATION/SHIPPING
    • 521 21 It will add ten jets a year and will focus on underused airports, says CEO Reuters [MUMBAI] Budget carrier AirAsia plans to aggressively grow its Indian affiliate’s fleet by adding 10 planes a year and will focus operations on the
      Reuters; PHOTO: AP  -  521 words
    • 910 21 It helps refiners cut costs, wean plants off imported crude Reuters [NEW YORK] Thanks to the US shale-energy boom, the once-quiet niche of USflagged oil tankers is in unprecedented flux. Half a dozen vessels that typically carried gasoline to Florida are now rushing crude
      Reuters; PHOTO: BLOOMBERG  -  910 words
    • 555 21 AFP [PARIS] He wanted to work on film sets. Instead, he became one of the world’s leading interior designers for planes. Jacques Pierrejean created the now-famous first class mini suites that Emirates uses in its A380 superjumbos, and has refurbished governmental jets
      AFP; PHOTO: AFP  -  555 words
    • 230 21 SGX '000 Jul 1 S$ +/-Vol CH Offshore 0.42 unch 38 Chuan Hup Hldg 0.25 unch 10 Cosco Corp 0.75 unch 687 S$ Ezra Hldgs 0.93 -0.01 1407 First Ship Lea Freight Links Grand Banks............unch unch 0 Jaya Hold Ltd 0.25 K1Ventures 0.17 unch 965 Keppel Corp 10.45
      230 words
  • Page 21 Advertisements
  • Page 21 Miscellaneous
    • 354 21 CRYPTIC CROSSWORD Across 1 Actress starts wearing shorts in emotional episodes (6) 4 The girl would love to be hugged by boy a great deal (8) 10 Abrasive courage left after romance (5,4) 11 Doctor adopts exaggerated slogan (5) 12 Weapon for police deploying a taser to protect head of
      354 words

  • EDITORIAL & OPINION
    • 471 22 EDITORIAL AFTER a dismal decade, the past few years have been somewhat kinder to the global airline industry. This happy trend is likely to continue through this year and 2014, if the latest forecasts put out by the International Air Transport Association (IATA) are
      471 words
    • 841 22  -  THE BOTTOM LINE By SIMON JOHNSON The writer is a professor at MIT’s Sloan School of Management and the co-author of ‘White House Burning: The Founding Fathers, Our National Debt, And Why It Matters To You’ Project Syndicate THE devil is always in the
      Project Syndicate  -  841 words
    • 984 22  -  Remedying its institutional flaws calls for minimal federalism and democratic legitimacy By HANS-HELMUT KOTZ The writer, a senior fellow at the Center for Financial Studies, Goethe University, Frankfurt, and a resident faculty associate of Harvard University’s Center for European Studies, was a member of the
      Project Syndicate; PHOTO: AFP  -  984 words
    • 1345 23  - Make S’pore the region’s ‘digital hub Focus on several areas of strategic importance that must be addressed for the industry’s long-term development By GREG UNSWORTH, SUNIL AGARWAL Greg Unsworth is a partner technology, media telecommunications industry leader and Sunil Agarwal is a partner at PwC Singapore AS WE all experience
      FILE PHOTO  -  1,345 words
    • 929 23  -  By NEETA LAL The writer is a New Delhi-based journalist UNITED States Secretary of State John Kerry’s recent visit to New Delhi for the fourth India-US strategic dialogue was an attempt at containing a drift in bilateral relations. Apart from predictable statements of
      PHOTO: REUTERS  -  929 words


  • Page 24 Advertisements
    • 491 24 The Business Times Shipping times Papua New Guinea Australia New Zealand New Caledonia Fiji all other Pacific Islands Dili (East Timor) Guam (Mariana Islands) Honolulu (Hawaii) VESSEL VOY SIN NOU SUVA BUS MOTHER VESSEL NOU SUVA BUS APIA PAGO PAPEETE N’LOFA VILA SANTO TARAWA MAYSSAN 1321E 30 Jun 11 Jul
      491 words
    • 431 24 FOONG SUN SHIPPING (PTE) LTD INDONESIA SUMATRA PORTS VESSEL VOY ETA ETD DESTINATION BERJAYA 1 08/13 05/07 07/07 BELITUNG/PKL BALAM SRI JAYA 8 07/13 05/07 07/07 JAMBI/PEKAN BARU SINOPA 11/13 04/07 06/07 PALEMBANG/PANJANG SIANIRI 09/13 IN PORT 03/07 BENGKULU/PADANG FAJAR MAS 07/13 04/07 06/07 BELAWAN/LHOKSEUMAWE CARAKA JN322 07/13 08/07 10/07
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    • 439 24 WALLENIUS WILHELMSEN LOGISTICS Tel: (65) 6379 5066 Fax: (65) 6379 5106 Email: 2wsinenq@2wglobal.com website: http://www.2wglobal.com AUSTRALIA NEW ZEALAND TO ASIA VESSEL VOY AKL BNE PKL MEL FRE SIN TAIKO CF318 16/06 18/06 21/06 27/06 05/07 TAMESIS FF326 19/06 24/06 28/06 03/07 09/07 TONSBERG FF327 24/06 28/06 01/07 03/07 09/07 15/07
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  • SINGAPORE STOCKS
    • 2992 25 Transaction date: Jul 1 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 188 106 AIMSAMPIReit M Cap High Low Company 75 55 ASL Marine
      2,992 words
    • 227 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 2.4 1.3 t Advanced System 1.4 unch 100 1.4 1.4 1.3 1.5 22.3 Div Gr Yld Net M Cap High Low
      227 words
    • 11288 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!** Asian Smaller Cos!” 1.9386/ .2.7882/ EM local Ccy Bond .0 9388/ European Opportunities!" 1.1515/ Global Emerging Markets!”
      11,288 words
    • 249 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 $mil Company 52 31 Genting HK US$ US45 +0.5 5454 45 43.5 44.5 45 2963 Sale 260 191 TanChongInt HK218 unch 60 219 218 219 237 4.3 3.2
      249 words
    • 889 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 $mil 126 107.1 ABF SG Bond ETF Last 143 120.4 CIMB APAC Div 100S$D 127.7 129.1 130 114.4 99 CIMB APAC Div 100US$ US99.2 101.5 102.2 10.4
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  • FINANCE & COMMODITIES
    • 619 27 Jul 1 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.72 *****.71 *****.70 Sep13 *****.00 *****.00 *****.00 *****.00 *****0 *****2 Dec13 *****.00 *****.00 *****.00 *****.00 39 ***** MSCI TAIWAN INDEX FUTURES SPOT 287.43 288.97 285.46 Jul13 280.00 282.30 276.80 281.40 ***** *****0 Aug13 276.10
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    • 373 27 In local curr In S$ In US$ dy yr dy yr dy yr Jun 28 Index Change Change Change Change Change Change World Preliminary 1037.8 0.2 10.6 0.2 11.5 0.1 7.4 EAFE Preliminary 843.7 0.4 8.9 0.2 6.1 0.1 2.2 Europe Preliminary 1191.1 -0.5 3.8
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    • 471 27 Jul 1 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.964 5.618 0.702 7.106 54.184 91.047 0.912 10.383 2.897 1.182 91.208 39.507 1.161 9.076 0.866 27.485 28.398 0.603 0.916 Canada 1.037 5.828
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    • 63 27 Jul 1 (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$) 3 mths 0.***** 3 mths 6 mths 6 mths 0.***** 9 mths 0.***** 12 mths 0.***** SWAP
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    • 137 27 Jul 1 GOLD(US$/oz) Jun 27 Jun 28 Hong Kong 1253.00 1218.50 Jun 28 Jun 27 London 1214.91 1227.90 1215.94 1228.65 Source: Thomson Reuters CAST BAR Jul 01 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 113 50 5gm 321 251 10gm 574 502
      137 words
    • 90 27 Jul 1 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 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-15 100.04 5-Year N*****0T 0.5 01-Apr-18 96.78
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    • 57 27 Jul 1 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 13 2344.0 2337.0 2344.0 2344.0 2 751 Aug 13 2353.0 2346.0 2374.0 2345.0 1849 ***** Sep 13 2354.0 2343.0 2372.0 2341.0 ***** ***** Oct 13 2348.0 2339.0
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    • 155 27 Jul 1 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1604 1.1614 0.9160 0.9164 Canadian dollar 1.2040 1.2047 0.9506 0.9504 Euro 1.6520 1.6531 1.3041 1.3044 NZ dollar 0.9820 0.9827 0.7752 0.7754 Sterling pound 1.9258 1.9268 1.5202 1.5204
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    • 109 27 Jun 28 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 13 1564.50 1548.50 1574.50 1538.00 Aug 13 1431.00 1432.50 1446.75 1411.75 Sep 13 1303.25 1317.75 1325.00 1296.25 Nov 13 1252.00 1275.25 1279.75 1247.00 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 13
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    • 95 27 Jun 28 COCOA (£/tonne) Close Prev High Low Jul 13 1440 1434 1446 1422 Sep 13 1458 1449 1464 1439 Dec 13 1469 1459 1473 1449 Mar 14 1467 1461 1470 1450 COFFEE(US$/tonne) Close Prev High Low Jul 13 1731 1729 1741 1707 Sep 13 1759 1745 1760 1723
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    • 1103 27 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 0.4 1 146 876 37.50 10 Conv Albedo Limited W*****9 0.7 unch 450 AlliedTech W*****2 Price Ascendas Reit.ES.1307 Disc Asiatravel.com HoldingsW*****7 0.2 unch 92 1 25 12 Asiatravel.com
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    • 70 27 CRUDE OIL PRODUCTS Jun 28 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 102.57 -0.45 WTI (Near Mth) 96.55 -0.33 Dubai (1-Mth F) 100.16 0.87 Tapis blend 107.83 0.97 Minas 103.38 0.97 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 93.33 0.50 Jet Kerosene 118.02 1.03 US$/barrel OpecOil Basket
      70 words
    • 22 27 Jul 1 S$ Bid Offer 1-month 1.2667 1.2673 2-months 1.2667 1.2674 3-months 1.2668 1.2675 6-months 1.2668 1.2677 Source: OCBC
      22 words
    • 66 27 Jun-28 Jun-28 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1729.75 1721.00 3 months 1773.00 1765.00 Copper, Grade A(US$/tonne) Cash 6731.00 6726.75 3 months 6750.00 6750.00 Lead(US$/tonne) Cash 2040.50 2042.50 3 months 2051.00 2052.00 Nickel (US$/tonne) Cash *****.50 *****.50 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
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    • 121 27 As at 9am Jul 01 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.189 1.133 Can dollar 1.230 1.183 Euro 1.690 1.610 Sterling pound 1.966 1.891 NZ dollar 1.007 0.969 US dollar 1.296 1.235 Local dollars to 100 units of foreign
      121 words
    • 157 27 Jul 1 $S Offer Bid 0vernight 0.05 0.03 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.08 US$ 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 0.70 0.50 12
      157 words

  • PROPERTY
    • 768 28 Investors cut holdings amid Fed’s plan to trim its bond-buying scheme Bloomberg [DUBAI] Emaar Properties PJSC’s and Nakheel PJSC’s Islamic bonds posted their worst monthly drop on record in June as investors dumping emerging market assets sold off debt linked to Dubai’s
      Bloomberg; FILE PHOTO  -  768 words
    • 310 28 Bloomb erg [LONDON] UK house prices rose for a fifth month in June as a shortage of properties boosted values, according to Hometrack Ltd. Average values in England and Wales increased 0.4 per cent, the same as in May, which was the biggest
      Bloomberg  -  310 words
    • 217 28 Reuters [SYDNEY] Home prices in Australia’s major cities rebounded in June to more than make up for falls in the previous two months, a hopeful sign that low mortgage rates were working to fuel demand. Figures out yesterday from property consultant RP Data-Rismark showed that dwelling
      Reuters  -  217 words
    • 575 29 Prices up by 7.4% in June from a year earlier despite govt cooling measures Bloomberg [BEIJING] China’s new home prices jumped in June by the most since they reversed declines in December, defying the government’s tightened property curbs as increased sales supported
      Bloomberg; PHOTO: BLOOMBERG  -  575 words
    • 146 29 Bloomb erg [LONDON] Berkeley Group Holdings, the UK homebuilder focused on London and south-east England, bought a 4-hectare site in London from Marks Spencer Group for about £100 million (S$192.8 million). Berkeley’s St James Group unit will build homes on the site in the
      Bloomberg  -  146 words
  • Page 28 Advertisements
    • 589 28 Workplace Success: Unlock Your Potential Maximise Your Performance Who should attend: Senior and Middle Management, Supervisors, Social Media Managers Consultants, Corporate Communications and Marketing Managers Consultants, Sales and Business Development Managers Executives, and those who are interested in attaining higher productivity at work. Productivity and Credit (Pi g Claimable FULL-DAY
      589 words

  • Page 29 Advertisements
    • 47 29 KnightFrank.com.sg Woodlands B2 Space for Sale! A 4-storey HDB purpose-built factory Easily accessible via SLE/BKE 5 mins drive to Woodlands MRT Stn Land area: Approx. 41,095 sf GFA: Approx. 44,423 sf 30+30 wef 1992 Chan Lei Ling 9119 5761(R*****5H) William Quek 9295 3098(R*****1I) CEA Licence No. L*****36J
      47 words
    • 121 29 SPRINGLEAF TOWER Strata Office Floor For Sale ill M 25-a f Prime CBD location Grand and prestigious triple height entrance lobby Good views Direct underground access to Tanjong Pagar MRT Station Ideal for end users Very high quality office finishes Car parking Car drop-off point Entire floor(s) for sale Strata
      121 words
    • 453 29 ii ai u in HI 9 nus j National University of Singapore 19-23 August 2013 Real Estate inanceS? Securitisation Graduate Certificate In Real Estate Finance August 2013 Module Dayl: 20 Aug 2013 Session 1: Debt Financing Loan Underwriting Session 2: Real Estate Securitisation Day 2: 21 Aug 2013 Session 3:
      453 words
    • 59 29 Residential Land Parcels At Hillview Terrace Not To Scale. For Reference Only n 3 land parcels available n 999-year tenure n MP 2008 Residential, PR 1.92 n Overlooks the lush greenery of Little Guilin Tender Closing: Wed, 17 July 2013, 3 pm Investment Advisory Services Tel: 6293 3228 DTZ Debenham
      59 words

  • Page 30 Advertisements
    • 286 30 Best of Both Worlds o human capital I NETWORK AND BE INSPIRED AT 1Q on SuSm TODAY f. FOR aIa I ASIA'S LEADING HUMAN CAPITAL EVENT rr HBI ONLINE mmmxa h dbt home deliver the business times Raffles Conversation g National Day Message WfE ~15fal Mil JL-. dhriplinr THE BUSINESS
      286 words