The Business Times, 20 July 2013
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2013-07-20
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The Business Times
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Title Section14 2013-07-20 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g JULY 20-21, 2013 S$1.00 MICA (P) 075/08/201214 words
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Article38 2013-07-20 1 MARKET REACTION GOOGLE CEO said the company had a great Q2 with a 19 per cent year-on-year growth. However, markets were not impressed and the share price fell almost 5 per cent.| 238 words
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Article36 2013-07-20 1 NETTING BIG FIRMS THE G-20 nations yesterday backed a bold reform of tax laws aimed to wipe out loopholes that enable many companies to deliberately keep their tax bills low.| 436 words
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Article34 2013-07-20 1 US$18b in debt DETROIT has now become the biggest US city ever to file for bankruptcy the result of a long, slow decline in population and auto manufacturing. 1934 words
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1009 2013-07-20 1 Kalpana Rashiwala - TDSR to apply to individuals who set up entities to buy commercial, industrial properties By Kalpana Rashiwala kalpana@sph.com.sg Singapore INDIVIDUALS who set up “shell companies” for buying commercial or industrial properties to try and circumvent the total debt servicing ratio framework may1,009 words
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892 2013-07-20 1 Lee U-Wen - By Lee U-Wen leeuwen@sph.com.sg Singapore WHILE Europe’s football leagues don’t kick off until mid-August in most cases, the pre-season that takes place in July is easily one of the busiest and most lucrative periods for the continent’s top teams. Manchester892 words
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Page 1 Advertisements
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Advertisement62 2013-07-20 1 the business times www. usinesstimes.com. g JULY 20-21, 2013 S$1.00 MICA (P) 075/08/2012 SHOW ME THE MONEY Never too big to go belly up 33 MOTORING New MercedesBenz S-Class L19 the raffles conversation HARVARD UNIVERSITY’S BENJAMIN FRIEDMAN 10-11 LIVING Talented young designers L2-5 Read what analysts are saying about Keppel62 words
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TOP STORIES
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Article, Illustration1046 2013-07-20 2 Amit Roy Choudhury - Despite a 19 per cent growth in revenues for Q2, search giant fails to impress market By Amit Roy Choudhury amit@sph.com.sg Singapore AT Thursday’s earnings announcement, Google CEO Larry Page said the company had a great second quarter with a 19 per cent year-on-year growth.PHOTO: AP - 1,046 words
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MARKETS
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Article58 2013-07-20 2 HSTI 3,213.26 (-4.94) HSTI FUTURES 3,208.00 (-4.00) HSIMSCI 364.50 (-0.84) HSIMSCI FUTURES 364.00 (-0.40) Friday Change KL COMP 1,797.74 +6.20 NIKKEI 225 14,589.91 -218.59 HANG SENG 21,362.42 +17.20 SET 1,481.84 -5.35 JAKARTA 4,724.41 +3.98 MANILA 6,621.02 -27.33 KOSPI 1,871.41 -4.07 SHENZHEN B 760.91 -12.63 MUMBAI IND 20,149.85 +21.44 12noon58 words
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Article29 2013-07-20 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.510 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.51 INDIA 14.45 Source: Bloomberg29 words
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Article48 2013-07-20 2 US$ S$ US$ (S$ per US$) 1.266 (US$/S$ per 1.524 1.929 EURO(US$/S$/€ 1.313 1.662 Foreign currency per US$ S$ YEN 100.30 79.30 RM 3.197 2.525 HK$ 7.758 6.128 BAHT 31.08 24.55 RUPIAH 10,080 7,962 RENMINBI 6.138 4.849 INDIAN RUPEE 59.76 47.20 A$ 1.090 0.861 NZ$ 1.261 0.99648 words
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836 2013-07-20 3 Lynn Kan, Malminderjit Singh - Incoming CEO’s real-estate background doesn’t mean group will do an about-turn and focus on property By Lynn Kan, Malminderjit Singh lynnkan@sph.com.sg msingh@sph.com.sg Singapore KEPPEL Corporation’s leadership change was not unexpected although the transition comes at a tricky time for the offshore marine-focused conglomerate. Keppel836 words
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Article, Illustration622 2013-07-20 4 Lee U-Wen - Backing for proposed reform to allow govts to tax profits shifted to low-tax jurisdictions By Lee U-Wen leeuwen@sph.com.sg Singapore THE Group of 20 largest economies have backed a bold reform of international tax laws aimed at closing loopholes622 words
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Article, Illustration1205 2013-07-20 6 Anthony Rowley - Economic interests will start to assert power while regional relationships show strain By Anthony Rowley btworld@sph.com.sg Tokyo JAPANESE Prime Minister Shinzo Abe will tomorrow take his Liberal Democratic Party into an Upper House election which it appears certain to win hands down, thereby ending aPHOTO: REUTERS - 1,205 words
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Article, Illustration586 2013-07-20 8 Michelle Quah - He’ll be in charge of the firm’s 98 offices and 33,000 employees in the region By Michelle Quah michquah@sph.com.sg Singapore KPMG Singapore managing partner Tham Sai Choy has been named chairman of KPMG Asia Pacific, a role which will put him in586 words
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Article, Illustration636 2013-07-20 8 Kenneth Lim - Wanna eat a puppy Why not trade futures? SATURDAY SOAPBOX Kenneth Lim kenlim@sph.com.sg Correspondent NOT to sound alarmist, but the Singapore Exchange (SGX) may be building up an elite army of coldhearted mercenaries for some nefarious purpose. On its new “Born to Trade” website purportedly aimed at encouraging people to636 words
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Page 2 Advertisements
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Advertisement78 2013-07-20 2 CONTENTS LIVING Design L2-5 Dining L6-7 Watches L8-9 NEWS Top Stories 2-8 Week In Review 9 Raffles Conversation 10-11 Companies 12-15 From the Desk of 16 Singapore 17-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-35 Show Me The Money 33 Househunt 34 Real Estate 35 Home Garden L10-1178 words
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Page 3 Miscellaneous
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Miscellaneous30 2013-07-20 3 JACKPOT Estimated Draw on Mon, 22 Jul 2D13 at 6.3Dpm For details, visit www.singaporepools.com.sg Ip yA Always play with care, [responsibly) Do not bet illegally. RGB Reg No: *****0202G SINGAPORE30 words
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Page 5 Advertisements
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Advertisement318 2013-07-20 5 THE STRAITS TIMES WHEREVER YOU ARE II ur. ;vJ. QlS Straits Ti m .4. rv I* i Li 1/ 5^ I < ■> J I i V J J STAY INFORMED ON WHAT MATTERS MOST GRAB THESE FABULOUS GIFTS when you Subscribe to The Straits Times. Select 0 Plan and318 words
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Page 7 Advertisements
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Advertisement212 2013-07-20 7 Best of Both Worlds '-‘S'' i«« 4MiMt0fe i. ==sCs THE BUSINESS TIMES 19-20 The Business Times P THE BUSINESS TIMES =sr OUE buys tallest bu.Virx, Cqn m Lffy U, «CaHonwtafUSS367 5m )3U,T1 KIU V 10 11 2 The Business Times AIMn-One Package and Forbes Asia magazine. Read corporate and financial212 words
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Page 8 Advertisements
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Advertisement70 2013-07-20 8 HOT PROPERTY t a tZ ready move 500m MRT. ur) klock. /4500s q ?t m, 5 VS f 300 3sfv BA r 1 NGAN BRand new roof lT r /J n nter terr At™ ensuite m5 rt P° ol/ 4 ’™s sch. ma,d s rm MRT/ tor CONTEMPORARY DESIGN? Check70 words
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WEEK IN REVIEW
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THIS WEEK July 15-19, 2013
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Article37 2013-07-20 9 THE government is clamping down on a common practice where developers and agents tie up with banks. It has introduced a rule that will stop banks from offering preferential interest rates for loans.37 words
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35 2013-07-20 9 THE Bank of Japan is steaming ahead, apparently towards ending deflation and boosting growth, as it noted the previous Friday when it mentioned “recovering” for the first time since 2011.35 words
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38 2013-07-20 9 MOODY’S Investors Service has downgraded the outlook for Singapore’s banking system to negative from stable, owing to rapid loan growth and rising real estate prices at home and in the region.38 words
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64 2013-07-20 9 DEVELOPER sales surged 23.8 per cent month on month in June to 1,806 private homes, excluding ECs. The sales volume was propped up by the 737 units sold at the J Gateway condo in Jurong on June 28 as its developer64 words
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38 2013-07-20 9 CITIGROUP, the third-biggest US bank by assets, posted a 42 per cent increase in second-quarter profit that beat analysts’ estimates as stock trading revenue surged and losses on unwanted assets declined.38 words
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Article, Illustration66 2013-07-20 9 THE Monetary Authority of Singapore says the local banks are not at risk and regular stress tests have shown that adequate buffers are in place to cope with the inevitable upturn in the interest rate cycle. The MAS says local banks are not atPHOTO: BLOOMBERG - 66 words
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27 2013-07-20 9 SINGAPORE enters its sec-ond-quarter earnings season with low expectations and the spectre of rising interest rates haunting property players and banks.27 words
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25 2013-07-20 9 SINGAPORE’S non-oil domestic exports extended its fall in June with a steeper-than-expected 8.8 per cent tumble from a year ago.25 words
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41 2013-07-20 9 A GENERALISED economic slowdown is spreading across Asia on the back of slower growth in China and India as well as weak demand from major industrial economies, the Asian Development Bank reported.41 words
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39 2013-07-20 9 INVESTOR confidence in Singapore is at a two-year high, says JP Morgan Asset Management, but it remains to be seen whether the US plan to taper its QE programme will hurt this sentiment.39 words
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25 2013-07-20 9 SINGAPORE’S non-oil domestic exports extended its fall in June with a steeper-than-expected 8.8 per cent tumble from a year ago.25 words
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39 2013-07-20 9 ONLY 10 per cent of Asia’s largest banks have an independent chairman; and, despite this, an even smaller proportion 5 per cent have a lead or senior independent director.39 words
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41 2013-07-20 9 ONLY one in ten companies in Singapore are using the renminbi to settle their cross-border trade but this ratio is expected to improve as the city-state develops itself as a yuan clearing hub.41 words
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34 2013-07-20 9 AMID growing fears that China’s economic slowdown could damage growth in other parts of Asia, the IMF offered a relatively benign view of immediate prospects for the country.34 words
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41 2013-07-20 9 SMALL and medium-sized enterprises in Singapore expect their sales and profits to pick up in the second half of this year, but growth would not be as rosy as in previous years.41 words
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44 2013-07-20 9 KEPPEL Corporation’s incoming head honcho will not be a shipyard man. Instead, it will be led by its CFO Loh Chin Hua, who has over 25 years of real estate investing and fund management experience.44 words
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28 2013-07-20 9 A DIVERSE group of entrepreneurs has set out to gather public feedback on how to review and rejuvenate the entrepreneurship landscape in Singapore.28 words
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Article91 2013-07-20 9 US DATA July 22 June existing home sales July 24 June new home sales July PMI manufacturing index flash July 25 July durable goods orders July 26 July consumer sentiment OTHER DATA July 24 July European Commission PMI manufacturing services composite SINGAPORE DATA July 2391 words
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Page 9 Miscellaneous
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Miscellaneous311 2013-07-20 9 Across 1 Loses wicket but doesn’t declare (5,2) 5 Whig can get involved in informal chat (7) 9 Deck or dock (5) 10 Observer Magazine (9) 11 They hold the news cuttings together? (5,5) 12 Religious instruction’s wearing to a small group (4) 14 A case for arms limitation? (12)311 words
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Miscellaneous9 2013-07-20 9 SATURDAY with Ludwig ‘I have a craving for popcorn9 words
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THE RAFFLES CONVERSATION
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Article, Illustration2224 2013-07-20 10 / 11 Vikram Khanna - Benjamin Friedman of Harvard University talks about the connection between economic growth and political, social and moral progress. By Vikram Khanna By Vikram Khanna vikram@sph.com.sg EVERY year, the Monetary Authority of Singapore (MAS) and the National University of Singapore (NUS) invite one or more distinguished economistsPHOTO: ARTHUR LEE - 2,224 words
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COMPANIES
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398 2013-07-20 12 Kenneth Lim - Despite weak market, stock rises as high as $1.26 before closing up 5% at $1 .1 55 By Kenneth Lim kenlim@sph.com.sg Singapore OIL and gas exploration minor KrisEnergy beat a weak market to post a gain on its listing debut, as appetite for initial public398 words
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Article, Illustration538 2013-07-20 12 Mindy Tan - By Mindy Tan tanmindy@sph.com.sg Singapore SUNTEC Real Estate Investment Trust’s distribution per unit (DPU) dropped 4.7 per cent to 2.249 cents for the quarter ended June, from 2.361 cents a year ago. This was due to a 4 per cent drop in distributable incomeFILE PHOTO - 538 words
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464 2013-07-20 12 Mindy Tan - Its overall portfolio occupancy stands at 99.1% as at end-June By Mindy Tan tanmindy@sph.com.sg Singapore CONTRIBUTIONS from the revamped malls continue to lift CapitaMall Trust’s (CMT) distributable income and revenue. CMT posted a 6.3 per cent jump in distribution per unit464 words
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Article, Illustration683 2013-07-20 13 Ong Chor Hao - Shareholders to vote whether to oust MD and bring back founder By Ong Chor Hao ongch@sph.com.sg Singapore SHAREHOLDERS of industrial company See Hup Seng could face another major boardroom shakeup on Monday as they decide who is better to lead the company.FILE PHOTO - 683 words
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255 2013-07-20 13 Ong Chor Hao - By Ong Chor Hao ongch@sph.com.sg Singapore SPH Reit, the real estate investment trust to be spun off from Singapore Press Holdings (SPH), has granted an over-allotment option for its initial public offering (IPO) for any necessary stabilising action to be taken related to255 words
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408 2013-07-20 13 Buyer Pacific Retail Reit is backed by ARA, says report Bloomberg Sydney CFS RETAIL Property Trust, an Australian real estate investment trust managed by a unit of Commonwealth Bank of Australia, plans to sell four malls to aBloomberg - 408 words
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Article, Illustration635 2013-07-20 14 R Sivanithy - STOCKS R Sivanithy sivan@sph.com.sg Senior Correspondent AT THE macro level, the week’s defining event was the testimony by US Federal Reserve chairman Ben Bernanke to Congress on Wednesday and Thursday about the state of the US economy and the future of monetary635 words
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Article63 2013-07-20 14 BY CENTS CLOSE UP DBXT E50 10US$ 4299 332.9 6.5 GLD 10US$ ***** 83.6 0.5 DBXT FTVietnam 10US$ 2325 31.7 1.1 IS ASIA HYG100S$D 1349 30.0 2.3 IS ASIA BND 100S$D 1296 16.0 1.3 DBXT AUD Bonds 5AU$ ***** 13.9 0.1 CNA 27 13.3 97.1 Jardine C&C 405763 words
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Article57 2013-07-20 14 BY CENTS CLOSEDOWN UOB.ES.1307 2098 -33.0 -1.5 DBXT CSI300 10US$ 692 -32.9 -3.6 Hyflux 6% CPS 10 ***** -21.0 -0.2 DBXT FTChina25 10US$ 2613 -20.3 -0.6 Keppel Corp 1075 -15.0 -1.4 SIA.ES.1307 1015 -14.0 -1.4 DBXT MSJAP 10US$ 4614 -11.4 -0.2 CityDev 1071 -11.0 -1.0 DBXT MSINDO 10us$57 words
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537 2013-07-20 14 Listing as a business trust among options after failure to sell the operator Bloomberg MBK PARTNERS Ltd, a private equity firm formed by former Carlyle Group executives, is considering a Singapore initial public offering (IPO) for Taiwan’s China Network Systems CoBloomberg - 537 words
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Article232 2013-07-20 14 VOL CLOSE CNA 376 689 27 1 3 .3 97 .1 HanKore 1 54 13.3 972 5 .4 0 .0 0 .0 Innopac 1 47 0.0 159 14 .2 0 .7 4 .7 Tha i Beverage 68 Thai Beverage 072 56 0 .5 0 .9 KrisEnergy 56232 words
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Article112 2013-07-20 14 Stock name Close Change CapMallsAsia 1.920 CapitaLand 3.130 -0.020 CapitaMall 2.020 +0.020 CityDev 10.71 -0.110 ComfortDelGro 1.955 +0.015 DBS Grp 16.56 -0.030 GLP 2.880 Genting SP 1.355 Golden Agri 0.540 -0.005 HK Land 6.680 +0.070 HPH Trust US$ 0.755 -0.005 JMH 59.10 +0.010 JSH 35.29 +0.080 Jardine C&C112 words
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Article, Illustration653 2013-07-20 15 Recovery expected to be led by companies seeking to set up regional headquarters Bloomberg Singapore THE Republic’s office rents are expected to surge at the end of next year after extending a “modest” rebound that started in the secondBloomberg; FILE PHOTO - 653 words
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244 2013-07-20 15 Carine Lee - Sale of loss-making business will help it focus on gaming By Carine Lee carinel@sph.com.sg LASSETERS International Holdings Ltd yesterday said it is selling off its freehold interest in land, villa leases and golf course business in New South Wales, Australia, for a total244 words
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Page 15 Advertisements
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Advertisement0 2013-07-20 15 $:<.!?{'?(&.%_-;(-?^!)\|+~@$_`\0 words
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FROM THE DESK OF
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Article, Illustration1288 2013-07-20 16 Sureish Nathan - Through an analysis of his leadership style, organisations can also enjoy similar success as Manchester United FROM THE DESK OF Sureish Nathan Vice-President Center for Creative Leadership in Asia Pacific AFTER 26 years in the hot seat of one of the most successful1,288 words
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SINGAPORE
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614 2013-07-20 17 Nisha Ramchandani - Accenture report says they need to differentiate themselves from the pack to succeed on foreign turf By Nisha Ramchandani nishar@sph.com.sg EVEN as Asian companies increasingly invest outside their borders, only 28 per cent are seeing the kind of returns that they had envisaged,614 words
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Article, Illustration597 2013-07-20 17 Malminderjit Singh - By Malminderjit Singh msingh@sph.com.sg THE devaluation of the yen is not a form of currency manipulation but is a result of Japan’s new Abenomics growth strategy, which will benefit other countries in Asia as well, a key Japanese economic597 words
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220 2013-07-20 17 STARTING next month, the Nanyang Academy of Fine Arts’ (NAFA) board will be helmed by a new chairperson. Sembcorp Development Ltd’s senior advisor, Low Sin Leng, will take over from Cham Tao Soon from Aug 1. Professor Cham is stepping down after220 words
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455 2013-07-20 18 Grace Leong - The Indonesian businessman is wanted by Australia to stand trial for the country’s biggest-ever bribery scam By Grace Leong gleong@sph.com.sg RADIUS Christanto, an Indonesian businessman accused of conspiring with two Reserve Bank of Australia (RBA) currency firms in what is said to be Australia’s455 words
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398 2013-07-20 18 Grace Leong - By Grace Leong gleong@sph.com.sg A SENIOR prison officer was fined $10,000 yesterday after he pleaded guilty to negligence in the death of an inmate. The Attorney-General’s Chambers had charged Lim Kwo Yin, who oversaw a procedure to restrain an inmate, with398 words
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Page 18 Advertisements
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Advertisement180 2013-07-20 18 THE BUSINESS TIMES SATURDAY SPECIAL Have a drink on us! Enjoy a complimentary cup of coffee when you present your business card Venue: Baci Italian Café, 112 East Coast Road #01-07 112 Katong, Singapore *****5 Tel: 6636 0376 Website: http://www.baci.com.sg Terms Conditions Valid from 20 July 2013 to 3 August180 words
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Advertisement19 2013-07-20 18 Grow Your Stock O Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices WATS NOTICES19 words
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WORLD
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Article, Illustration634 2013-07-20 19 It is the biggest US city ever to file for bankruptcy Bloomberg AP Detroit DETROIT filed a petition for Chapter 9 municipal debt adjustment on Thursday, hours after Michigan Governor Rick Snyder gave permission to the city’s Emergency Manager Kevyn Orr.Bloomberg; AP; PHOTO: BLOOMBERG - 634 words
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402 2013-07-20 19 AP Beijing CHINA said yesterday it is ending controls on bank lending rates in a move toward creating a market-oriented financial system to support economic growth. Reform advocates see an overhaul of China’s interest rate policy as one of the most important changes requiredAP - 402 words
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Briefing
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100 2013-07-20 19 Reuters London The British government yesterday unveiled what it described as the world’s most generous incentives for shale gas, offering tax breaks to drive investment in a sector that has already transformed the US energy market. The proposed tax allowance for shaleReuters - 100 words
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75 2013-07-20 19 Reuters Rome Italian Interior Minister Angelino Alfano yesterday survived a no-confidence vote, averting a political crisis that could have brought down the fragile coalition government of Prime Minister Enrico Letta. Mr Alfano, secretary of Silvio Berlusconi’s People of Freedom party which governs in an uneasyReuters - 75 words
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69 2013-07-20 19 Reuters London British insurer Aviva has appointed Euan Munro, formerly of Standard Life Investments, as chief executive of its global asset manage- ment business, Aviva Investors, it said yesterday. Mr Munro will take up the role in January 2014, taking over from JohnReuters - 69 words
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96 2013-07-20 19 Reuters New York General Electric yesterday posted a decline in quarterly profit and revenue on weakness in its finance unit, but its order book rose, sending shares up 2.4 per cent in early trading. GE said its order book was up 4Reuters - 96 words
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73 2013-07-20 19 AP Vatican City Pope Francis has created another commission of inquiry into the Vatican’s finances, naming an eight-mem-ber committee to recommend ways to fix the Holy See’s economic and administrative shortcomings. The commission, made up of seven lay people and a monsignor,AP - 73 words
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Article, Illustration856 2013-07-20 20 Industrials, luxury brands, commodities and consumer businesses vulnerable Reuters New York IT’S official. China’s slowdown is starting to hurt corporate America. As the world’s sec-ond-largest economy and still growing China is seen as a primary source of revenue growth by the largestReuters; PHOTO: REUTERS - 856 words
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382 2013-07-20 20 More measures to open up struggling economy to foreign investors AFP New Delhi INDIAN Prime Minister Manmohan Singh urged investors yesterday to “remain optimistic", while acknowledging that the country would register lower annual growth than expected in 2013-14. Mr Singh also warned thatAFP - 382 words
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752 2013-07-20 22 Amid reports that Kate has chosen the Dutch-made pram, loyalists say the monarchy should support British brands Bloomberg London AS the world awaits news of the birth of the child of the Duke and Duchess of Cambridge, all eyes are on Amster-dam-based strollerBloomberg - 752 words
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602 2013-07-20 22 AFP New York City LARGE US banks have been stand outs in the early part of the second quarter earnings season, but analysts are warning of speed bumps ahead. The major banks have posted big profit increases that bested analyst expectations. They gainedAFP - 602 words
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Page 20 Advertisements
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Advertisement163 2013-07-20 20 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, Director of163 words
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Page 21 Advertisements
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Advertisement253 2013-07-20 21 More efforts are being made to curb growth in the property sector in Singapore. As a savvy property investor, where should you look to for investment opportunities? Join our distinguished panel oF experts at STProperty Seminar, as they share their viewpoints and analyses oF hot property topics and let them253 words
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Advertisement53 2013-07-20 22 The Finder Singapore Download today! IT’S FREE Digital www.TheFlnder.com.sg FURNITURE TRAVEL WELLNESS SINGAPORE FOOD FESTIVAL y tAl YUUH WAY AKVUNU IHt WUHUJ BAV WiifT ©et/wa iFinder “SSS.fe'3® A RESIAURA FOR A CRC DAD B RING IT ON.' i changed FREE DOWNLOAD Available on the «ndrow*ppo» App Store Google play JULY53 words
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SGX
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Article8145 2013-07-20 23 Transaction date: Jul 19 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 15 11.4 8Telecom 12.2 12.1 10.6 0.9 10.1 58.4 8.8 3 A-Sonic 5.9cd unch 180 5.9 5.9 5.8 6 2.2 42.28,145 words
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Article1829 2013-07-20 26 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 22 17.1 t 800 Super 21.5 +1.5 1800 22 20.5 21 22 3.3 4.7 6.4 38.4 6.2 2.8 t AA Grp 2.8 unch ***** 31,829 words
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Article186 2013-07-20 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 5 5 0 0 0 3 5 5 Manufacturing 49 50 41 3 12 12 52 62 53 Commerce 20 19 19 1 7 4 21 26 23 Tpt/Stor/Comms 8 22 7186 words
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Article777 2013-07-20 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Jul 15 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) M Development 18-Jul-13 Value Cap Asset Mgmt Buy ***** 0.02 *****3 10.50 *****3 11.00 M Development 18-Jul-13777 words
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Article121 2013-07-20 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 20,070 20,070 64,870 64,870 Manufacturing 350,285 79,486 429,771 137,491 4,021 141,511 Commerce 177,880 88,727 266,607 76,074 5,201 81,275 Tpt/Stor/Comms 106,614 18,531 125,145 90,629 7,284 97,913 Finance 157,582 581 158,163 100,341 261 100,602 Construction 50,474 23,379121 words
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MARKETS
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Article94 2013-07-20 27 Jul 18 COCOA (£/tonne) Close Prev High Low Sep 13 1608 1585 1610 1590 Dec 13 1593 1572 1596 1579 Mar 14 1579 1558 1581 1566 May 14 1582 1560 1583 1569 COFFEE(US$/tonne) Close Prev High Low Jul 13 1945 1945 1945 1945 Sep 13 1970 1950 1997 194494 words
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Article65 2013-07-20 27 Jul 19 GOLD(US$/oz) Jul 18 Jul 19 Hong Kong 1286.50 1298.40 Jul 17 Jul 18 London 1282.91 1285.31 1283.68 1286.08 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 25.13 24.47 Source: UOB PLATINUM Lon (US$/oz) Jul 18 Close Previous PM Fix 1413.00 1424.00 AM Fix 1408.00 1419.00 Source:65 words
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Article57 2013-07-20 27 Jul 19 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 13 2352.0 2340.0 2352.0 2320.0 273 5789 Sep 13 2301.0 2305.0 2315.0 2270.0 3716 ***** Oct 13 2289.0 2291.0 2302.0 2252.0 ***** ***** Nov 13 2282.0 2281.057 words
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Article90 2013-07-20 27 Jul 19 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*****W 10-Jan-14 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-15 100.06 5-Year N*****0T 0.5 01-Apr-18 98.4990 words
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Article155 2013-07-20 27 Jul 19 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1607 1.1612 0.9169 0.9172 Canadian dollar 1.2199 1.2202 0.9639 0.9637 Euro 1.6619 1.6623 1.3128 1.3130 NZ dollar 1.0034 1.0042 0.7926 0.7932 Sterling pound 1.9291 1.9295 1.5239 1.5241155 words
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Article118 2013-07-20 27 Jul 19 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.190 1.134 Can dollar 1.244 1.197 Euro 1.702 1.621 Sterling pound 1.967 1.892 NZ dollar 1.025 0.986 US dollar 1.295 1.234 Local dollars to 100 units of foreign currency: Currencies Sell118 words
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Article105 2013-07-20 27 Jul 18 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Aug 13 1469.25 1477.50 1477.50 1458.50 Sep 13 1316.25 1329.25 1328.25 1309.00 Nov 13 1265.75 1283.50 1282.25 1259.00 Jan 14 1271.00 1288.50 1287.25 1264.25 SOYBEAN OIL(60,000 lbs; USc/lb) Close Previous High/Low Aug 13 45.52 45.79 45.92105 words
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STOCK MARKETS
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Article, Illustration20 2013-07-20 27 YTD change: +1.46% 52-week high: 3,464.79 on May 22,2013 52-week low: 2,931.60 on Nov 16,2012 Source: BloombergSource: Bloomberg - 20 words
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Article, Illustration20 2013-07-20 27 YTD change: -5.71% 52-week high: 23,944.74 on Feb 4,2013 52-week low: 18,710.59 on July 25,2012 Source: BloombergSource: Bloomberg - 20 words
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Article, Illustration21 2013-07-20 27 YTD change: -12.18% 52-week high: 2,444.80 on Feb 18,2013 52-week low: 1,849.65 on June 25,2013 Source: BloombergSource: Bloomberg - 21 words
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Article, Illustration19 2013-07-20 27 YTD change: +40.35% 52-week high: 15,942.60 on May 23,2013 52-week low: 8,238.02 on July 25,2012 Source: BloombergSource: Bloomberg - 19 words
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Article, Illustration25 2013-07-20 27 YTD change:+18.65% 52-week high: 15,589.40 on July 18,2013 52-week low: 12,471.49 on Nov 16,2012 (Chart shows Thursday’s index closing) Source: BloombergSource: Bloomberg - 25 words
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Article68 2013-07-20 27 Jul 18 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 108.68 0.04 WTI (Near Mth) 108.08 1.67 Dubai (1-Mth F) 104.16 0.64 Tapis blend 114.55 0.55 Minas 108.35 0.55 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 98.67 0.61 Jet Kerosene 123.35 1.17 US$/barrel OpecOil Basket Price 106.1168 words
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Article72 2013-07-20 27 Jul 18 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1760.75 1758.50 3 months 1805.00 1803.50 Copper, Grade A (US$/tonne) Cash 6886.50 6869.75 3 months 6905.00 6890.00 Lead (US$/tonne) Cash 2023.00 2016.00 3 months 2036.50 2030.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)72 words
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373 2013-07-20 27 In local curr In S$ In US$ dy yr dy yr dy yr Jul 18 Index Change Change Change Change Change Change World Preliminary 1091.0 0.7 16.3 1.0 17.2 0.6 13.0 EAFE Preliminary 891.0 0.7 15.0 0.9 12.0 0.5 7.9 Europe Preliminary 1254.8 0.9 9.4373 words
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PERSPECTIVE
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Article, Illustration885 2013-07-20 28 / 29 Jomo Kwame Sundaram - Global leaders must take a more comprehensive approach that focuses on reducing citizens’ vulnerability. By Jomo Kwame Sundaram By Jomo Kwame Sundaram ~The writer is Assistant Director General at the Economic and Social Development Department of the United Nations Food and Agriculture Organisation in Rome.Project Syndicate; PHOTO: AP - 885 words
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734 2013-07-20 28 / 29 Peter T Metzger - By Peter T Metzger ~The writer is vice-chairman, CTPartners. His background includes experience at the CIA and a role as marine military assistant to former US president Ronald Reagan. THE Singapore Economic Development Board recently entered into a multi-year agreement with RSA,734 words
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Wealth
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WEALTH INVESTING
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Article, Illustration1113 2013-07-20 30 / 31 Genevieve Cua - Veteran fund manager Daniel Chan aims to grow $400m-$500m AUM in 3-5 years Genevieve Cua gen@sph.com.sg Personal Finance Editor AFTER more than three decades running large homegrown asset management operations, veteran fund manager Daniel Chan is doing what he loves best: looking at stocksPHOTO: YEN MENG JIIN - 1,113 words
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Article750 2013-07-20 30 / 31 Kenneth Lim - Compiled by Kenneth Lim Keppel Corp Buy OCBC Investment Research July 19 July 19 close: S$10.75 Keppel Corp (KEP) reported an 11.7 per cent y-o-y decrease in revenue to S$3.08 billion and a 33.4 per cent drop in net profit to S$346.8 million in Q2 2013. However, excluding750 words
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Article, Illustration1168 2013-07-20 32 But market watchers say they should find ways to invest in stocks without betting on the country’s economic growth NYT New York DURING a blistering run from November to May in which Japan’s stock prices nearly doubled on signs that its economy wasNYT; PHOTO: REUTERS - 1,168 words
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Article, Illustration1233 2013-07-20 33 Teh Hooi Ling - Spectacular failures such as Kodak and Sony Walkman teach us one thing: short-term pain can lead to long-term gain SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior Correspondent STARK earnings for Intel reflect its changing market goes the headline of a storyPHOTO: AFP - 1,233 words
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WEALTH REAL ESTATE
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329 2013-07-20 34 Bloomberg New York MORTGAGE rates in the US fell on Thursday, reducing borrowing costs for homebuyers after the 30-year average jumped to a two-year high last week. The average rate for a 30-year fixed mortgage dropped to 4.37 per cent in the weekBloomberg - 329 words
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Article785 2013-07-20 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN JUNE 19 AND JUNE 25, 2013 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 4 NON-LANDED Caribbean At Keppel Bay Apt 21/06/2013 99 1335 2200 1648 Corals At Keppel Bay785 words
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Article, Illustration524 2013-07-20 35 Livia Yap - Welcome to your first-class cabin in a hotel Come 201 8, a 600-room Yotel will open its doors in S’pore, the first such hotel in Asia By Livia Yap liviayap@sph.com.sg Singapore A TRENDY, capsule-style hotel brand is set to enter the Asian market with an upcoming hotel on Orchard Road.PHOTO: BLOOMBERG - 524 words
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728 2013-07-20 35 Bloomberg New York JOHN Helmick loves to buy homes reeking of cat urine and doesn’t mind if they’re infested with rats, bats or bees. His seven-year-old Gorilla Capital seeks out some of the most distressed properties in the US to avoid competitionBloomberg - 728 words
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294 2013-07-20 35 Reuters Beijing BANK lending to China’s property sector eased 17 per cent in the second quarter from the first, but was still at high levels due to the buoyant property market, according to Reuters’ calculations from central bank data yesterday. ChineseReuters - 294 words
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Page 36 Advertisements
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Advertisement211 2013-07-20 36 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE UNDERSTATED PRESENCE OF THE JULES AUDEMARS COLLECTION DERIVES FROM A CLASSIC SIMPLICITY AND POISE THAT IS DRIVEN BY THE CRAFT AND MECHANICAL INNOVATION OF ONE OF THE WORLD’S THINNEST, MOST ELEGANT CALIBRES. WHILE THE RULES OF EFFICIENT MANUFACTURE DICTATE THAT211 words
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Advertisement56 2013-07-20 1 Living DINING Choosing their specialities L6-7 BT THE BUSINESS TIMES WEEKEND JULY 20 21 2013 SHAPING LIVES AND PRODUCTS Talented young designers and their creations L2-5 HOME GARDEN Built-in entertainment L10-11 BT CORPORATE GOLF LEAGUE Team SunMoon at the forefront L16-17 GADGETS Where it counts L14 MOTORING First Class travel56 words
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BT Living
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DESIGN
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Article, Illustration2617 2013-07-20 2 / 3 Tay Suan Chiang - They are not household names at least, not yet. But with various design schools producing new talents each year, Singapore is becoming a hotbed for raw, creative works that could eventually put it on the world design map. Tay Suan Chiang sifts through a crop of2,617 words
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DINING
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Article, Illustration1760 2013-07-20 6 / 7 Tan Teck Heng - Forget home-based cupcake bakers or pineapple tart-making aunties. Three food-loving individuals bring some niche food concepts to the dining table. Tan Teck Heng reports reports Tan Teck Heng btnews@sph.com.sg Second shot from home Shen Tan Madam Tan Consulting www.facebook.com/MadamTanConsulting madamtans@gmail.com HER debut restaurant Wok Barrel may notPHOTOS: YEN MENG JIIN; FILE PHOTO - 1,760 words
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WATCHES
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Article, Illustration886 2013-07-20 8 / 9 Dylan Tan - Luxury watch brands are wooing their Asian clientele with these special limited edition tribute timepieces. By Dylan Tan dylantan@sph.com.sg De Bethune DB25 Imperial Fountain The DB25 Imperial Fountain (right) is a new special edition set of 12 timepieces inspired by both the Chinese zodiac and the bronze886 words
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HOME & GARDEN
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Article, Illustration1046 2013-07-20 10 / 11 Tay Suan Chiang - The piece de resistance of the Yeo household is their home entertainment system that comes with a 110-inch projection screen. By Tay Suan Chiang personal space By Tay Suan Chiang taysc@sph.com.sg IN SOME homes, it is the ornate, crystal chandelier, or a dignified-looking leather sofa that takes centrestage.PHOTOS: YEN MENG JIIN - 1,046 words
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STYLE
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Article, Illustration944 2013-07-20 12 / 13 May Yip - It's been a byword for corporate-climbing chic. Now, Hugo Boss is slated to be head honcho of luxury fashion by taking back the reins of its local business. By May Yip By May Yip HUGO Boss has always been about menswear that men actually wear, fusing the smart944 words
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Article, Illustration699 2013-07-20 12 / 13 Ladies, prepare to show who’s boss as menswear behemoth Hugo Boss cranks up its drive for a bigger share of the womenswear pie btnews@sph.com.sg FIRST came the announcement that Jason Wu yes, the Taiwanese designer behind both of Michelle Obama’s inauguration gowns, is the699 words
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GADGETS
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Article, Illustration621 2013-07-20 14 Christopher Lim - These gadgets all trade performance in some areas for worthwhile excellence in others, writes Christopher Lim writes Christopher Lim limchris@sph.com.sg Nokia Lumia 925 $799 without contract NOKIA makes the best Windows Phone 8 models, but the heft of Nokia’s previous flagship, the 185g Lumia 920, was a621 words
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SPORTS
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Article, Illustration768 2013-07-20 15 Lee U-Wen - no holds barred Lee U-Wen leeuwen@sph.com.sg Correspondent NORTHERN Ireland may have a population of just 1.8 million people, but the tiny nation has somehow managed to produce some of the greatest golfers the world has ever seen, including the likes of Rory McIlroy and Graeme McDowell. Call768 words
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BT CORPORATE GOLF LEAGUE 2013
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Article, Illustration778 2013-07-20 16 / 17 Justine Moss - But it’s a close fight, with only seven points difference between first and seventh place. By Justine Moss By Justine Moss ROUND One of the 2013 Business Times Corporate Golf League had everything great golf, a tight leaderboard and even a hole-in-one. Defending champions TeamPHOTO: GOLF DIGEST - 778 words
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Article, Illustration499 2013-07-20 16 / 17 TEAM Cerebos is no stranger to the Business Times Corporate Golf League, having been a valued sponsor and team participant since its inception in 2010. It’s a League which the company has enthusiastically supported due to the number of benefits it brings. “The League allowsPHOTO: GOLF DIGEST - 499 words
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Article, Illustration346 2013-07-20 16 / 17 Justine Moss - By Justine Moss btnews@sph.com.sg PARK Hotel Group stepped in as presenter sponsor of the inaugural Business Times Corporate Golf League back in 2010, before continuing as main sponsor in 2011, 2012 and this year. They have also fielded a strong team each year; finishing seventhPHOTO: PARK HOTEL GROUP - 346 words
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MOTORING
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Article, Illustration727 2013-07-20 18 Samuel Ee - To demonstrate the new Volkswagen Golf GTI’s abilities, the German carmaker is putting it through its paces in Changi. By Samuel Ee By Samuel Ee samuelee@sph.com.sg SO what do you do if you want to find out how well a car handles? Take it for a spin up727 words
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Article, Illustration790 2013-07-20 19 Samuel Ee - The new Mercedes-Benz S-Class introduces unprecedented levels of comfort, luxury and safety. By Samuel Ee samuelee@sph.com.sg THE car that set the standard for full-sized luxury limousines has just raised it with its latest model. Others may be sportier but the Mercedes-Benz S-Class has a reputation of being790 words
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Article, Illustration690 2013-07-20 20 Samuel Ee - The BMW Z4 is the epitome of style on four wheels. By Samuel Ee samuelee@sph.com.sg THE BMW Z4 will always be the car that broke the rules with its radical mix of convex and concave surfaces, and even if the second-genera-tion car has toned down its690 words
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Advertisement773 2013-07-20 4 / 5 wine&dine with BTWeekend Atrium Lounge Level 4, Marina Mandarin Singapore 6 Raffles Boulevard Weekend Afternoon Tea Enjoy a leisurely tea time amidst the chirping of Asian exotic birds at one of South-east Asia’s largest atriums. Sink your teeth into delicately-created items such as Wild Berries Tart, Hazelnut Feuilletine, White Opera773 words
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Page 14 Advertisements
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Advertisement35 2013-07-20 14 HOME NEE Got a sinking feeling about problematic leak? Call in the experts. To find out more, turn to CLASS 118 in CATS Classified in The Straits Times now. WAT3 BUY IT-SELL IT* FIND IT35 words
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Page 15 Advertisements
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Advertisement216 2013-07-20 15 HEART,STROKE&CANCERCENTRE “A medical centre of Singapore Heart, Stroke and Cancer Centre” PreservingHealthandLongevity Expertise in the Prevention, early Detection and Management of Heart disease, Stroke and Cancer www.shsccentre.com Prevent Sudden Death If you suspect heart disease or have risk factors such as high cholesterol, high blood pressure, diabetes mellitus, smoking or216 words
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