The Business Times, 17 August 2013

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Total Pages: 46
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    17 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg AUGUST 17-18, 2013 S$1.00 MICA (P) 075/08/2012 A SINGAPORE PRESS HOLDINGS PUBLICATION
    17 words
  • Article
    Lock icon New homes gain pace in July
    30 1 US HOUSING US developers started work on new homes at a faster pace in July, partly reversing a sharp drop the previous month. 2
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  • Article
    Lock icon Restructuring efforts on track
    21 1 PRODUCTIVITY DESPITE languishing productivity growth numbers, DBS economist Irvin Seah says Singapore’s restructuring is on track. 5
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  • Article
    Lock icon Trading error roils China bourse
    43 1 WILD RIDE CHINA’S stock market was roiled by a 53% surge in volumes that sent the Shanghai Composite Index to its biggest intraday gain since March 2009. Everbright Securities said that it had experienced a trading error. 8
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  • Article
    Lock icon Q2 earnings within expectations
    33 1 SCORECARD IT is difficult to disappoint when the bar is set low. Such was the story of the second quarter, when Singapore companies generally delivered a decent showing. 12
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  • Article, Illustration
    Lock icon Sinking exports may end year under water
    648 1  -  Slump has slowed down, but even a pickup may not be enough for a positive reading in 2013 By Chuang Peck Ming peckming@sph.com.sg Singapore NON-OIL domestic exports (NODX) continued to fall in July, but less sharply. And the drop wasn’t as bad as
    Source: IE Singapore  -  648 words
  • Article
    Lock icon China economy in banking’s shadow
    1238 1  -  Some call shadow banking a time bomb, while others say that the threat is overrated By Shu-Ching Jean Chen btworld@sph.com.sg Hong Kong JOE ZHANG dismisses the risk posed by shadow banking to China’s financial stability. As the author of a recent book about the subject
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  • TOP STORIES
    • Article, Illustration
      Lock icon Builders start work on more homes in July
      574 2 Worker productivity rises at a still-modest 0.9% annual pace between April and June LATEST US DATA AP Washington US developers started work on new homes at a faster pace in July, partly reversing a sharp drop the previous month. The figures suggest
      AP; PHOTO: BLOOMBERG  -  574 words
    • MARKETS
      • Article
        Lock icon STOCKS
        59 2 HSTI 3197.53 (-23.39) HSTI FUTURES 3190.00 (-22.00) HSIMSCI 363.40 (-2.67) HSIMSCI FUTURES 361.90 (-2.70) STOCKS Friday Change KL COMP 1,788.24 -3.97 NIKKEI 225 13,650.11 -102.83 HANG SENG 22,517.81 -21.44 SET 1,445.76 -7.31 JAKARTA 4,568.65 -116.48 MANILA 6,525.95 -54.76 KOSPI 1,920.11 -3.80 SHENZHEN B 815.75 -0.12 MUMBAI IND 18,598.18 -769.41
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.281 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.50 INDIA 14.45 Source: Bloomberg
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      • Article
        Lock icon FOREX
        48 2 US$ S$ US$ (S$ per US$) 1.269 (US$/S$ per 1.563 1.984 EURO(US$/S$/€ 1.334 1.693 Foreign currency per US$ S$ YEN 97.30 76.70 RM 3.272 2.578 HK$ 7.754 6.110 BAHT 31.28 24.64 RUPIAH 10,388 8,185 RENMINBI 6.114 4.817 INDIAN RUPEE 61.76 48.66 A$ 1.090 0.859 NZ$ 1.236 0.974
        48 words
    • Article, Illustration
      Lock icon Jakarta’s dangerous growth obsession
      393 4  -  REUTERS BREAKINGVIEWS It should get serious about monetary tightening and settle for slower expansion By Andy Mukherjee INDONESIA is failing to learn from India’s economic misery. That makes it a candidate for a disorderly decline in the currency, runaway inflation and financial instability. The country’s central
      393 words
    • Article
      Lock icon Republic’s restructuring efforts on track: DBS
      439 5  -  Bank’s Irvin Seah says improvements in real median income better gauge of productivity By Kelly Tay kellytay@sph.com.sg Singapore DESPITE Singapore’s languishing productivity growth numbers, DBS economist Irvin Seah believes the Republic’s restructuring efforts are “smack on track”. He says the widely-cited measure of productivity
      439 words
    • Article, Illustration
      Lock icon Obama to announce his nominee for new Fed chief ‘in the fall’
      793 5 He confirms Yellen and Summers are on White House shortlist AFP Washington IT’S one of the most important decisions US President Barack Obama says he will make over his eight-year presidency: who to lead the Federal Reserve after
      AFP; PHOTOS: BLOOMBERG  -  793 words
    • Article
      Lock icon Credit Suisse suit settled out of court
      519 6  -  Father-and-son investors had sued bank over son’s legal capacity to authorise trades By Michelle Quah michquah@sph.com.sg Singapore AFTER just two days of hearings, a father-and-son pair of investors and Credit Suisse have decided to settle their dispute out of court. It is understood
      519 words
    • Article, Illustration
      Lock icon Trials for Singapore’s first driverless, ‘green’ vehicle
      603 6  -  By Malminderjit Singh msingh@sph.com.sg Singapore THE journey between Nanyang Technological University (NTU) and the CleanTech Park of JTC Corporation (JTC) just got much more interesting. Soon, passengers plying the 2km route will be faced with a “faceless” experience as they will be able
      603 words
    • Article, Illustration
      Lock icon Everbright trading error roils China bourse
      692 8 Shanghai Composite Index surges to 5.6% gain from a 1% loss before closing down 0.6% Bloomberg Shanghai CHINA’S stock market was roiled by a 53 per cent surge in trading volumes that sent the Shanghai Composite Index to its biggest intraday gain since March
      Bloomberg; PHOTO: AP  -  692 words
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      59 2 CONTENTS LIVING Dining L2-5 Style L6-7 Design 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 L10-11
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      143 3 THE SHOPPES AT MARINA BAY SANDS PRESTIGE AUGUST MAN present r 0 -> a r>aT Jl VHP'S r~*\ m mL W v. 5? 3# AT 5 War** k t <v kSV My A WATCH AND JEWELLERY EXHIBITION NOW TILL 25 AUGUST 2013 Showcasing the patrimony and history of a selection
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      73 4 The Finder Singapore DOWNLOAD TODAY! IT’S FREE Print Digital SHOPPING RESTAURANTS FURN TURE TRAVEL WELLNESS a BAT WITH f YOUR EVPS Great restaurants in legendary local 'hoods BONUS SHOPPING GUIDE BUKIT TIMAH HOLLAND WORKPLACE ETIQUETTE FOR SUCCESS Ji HOW TO MAKE PRESCHOOL FUN FOR KIDZ See Page 28 TmAmr! Join
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      31 5 A JERRY LUM Snr Marketing Director, MBA, CES CEA licence No.: R *****6 D HP: 8288 0098 View: jerrylum.myweb.sg ERA Estate Agent Licence No L*****82K When You Buy, Sell, or Rent
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
      195 7 if. > >•>’? *f' k w 1 ;--i v V --VV I SPS m Wf mk if* v w>. Lr;x>v s as W v 8 r X The Business Times ION Orchard Present 4-course Truffle Degustation With Matching Wines mmmk. Mlh W Jointly organised by: THE BUSINESS TIMES IOPI the
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  • Page 8 Advertisements
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      Lock icon Page 8 Advertisements Column 1
      37 8 HOT PROPERTY z 6288%^ detach 999 yrs Q t Move ln 5+1+1. ssssja? PRICED TO SELL Check this and many other properties in CATS Classified in The Straits Times now! WATS BUY IT SELL IT FIND IT
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  • WEEK IN REVIEW
    • THIS WEEK Aug 12-16, 2013
      • Article
        Lock icon Yuan hub takes off but not all jumping in
        54 9 IF it’s a race, Singapore is off to a promising start as a major offshore yuan hub after it got its own clearing facility some three months ago. Every day, corporates are switching over to renminbi payments or making enquiries about
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      • Article
        Lock icon Property market set for 2016 supply avalanche
        84 9 WITH previously locked-up homes getting ready to hit the market, it is timely to relook the sellers stamp duty, to prevent a head-on collision with the record number of private homes that are expected to make it to the market in 2016, say
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      • Article
        Lock icon Services prop up GDP amid trade slump
        59 9 SINGAPORE on Monday cut its 2013 trade forecasts, a weekend after raising its full-year GDP growth projection. Non-oil domestic exports are now expected to grow no more than one per cent for the year, though the Ministry of Trade and Industry expects Singapore’s
        59 words
      • Article
        Lock icon Yield-seekers take offshore hospitality route
        56 9 AS the Singapore real estate investment scene gets more challenging, potential investors here are eyeing offshore sale-and-leaseback properties in the hospitality sector. In recent months, many yield-hungry investors have turned to these investments, which typically guarantee returns of around 6 per cent a year for
        56 words
      • Article
        Lock icon Car leasing lures locals and goes mainstream
        61 9 MORE and more distributors are offering car leasing to Singaporeans, who seem to be warming to it as an alternative to hire-purchase as vehicle financing rules begin to bite. Leasing has been a popular option among expatriate and corporate customers, with manufactur-er-backed deals
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      • Article
        Lock icon Trading losses by teenager spark negligence suit
        67 9 NEGLIGENCE suits taken out by private banking clients are hardly unusual these days; but a case being heard before the High Court comes with a couple of twists. At the heart of the matter are losses of $2.6 million suffered by a father
        67 words
      • Article
        Lock icon Former Malaysian Airline CEO: carrier should be sold
        57 9 A FORMER chief executive of Malaysian Airline System has suggested that the ailing carrier be sold although he stipulated that the sale should not be at a loss to the government. Idris Jala, now a minister in the Prime Minister’s Department, made
        57 words
      • Article
        Lock icon Battered AUD sits heavy on SingTel’s plate
        56 9 A STRONG showing from SingTel’s associates boosted the telco’s first-quarter profit, but the outlook for the rest of its financial year was brought Down Under by the emaciated Australian dollar. On Wednesday, SingTel was compelled to cut forecasts for revenue and earnings, with
        56 words
      • Article, Illustration
        Lock icon MRS TEO
        26 9 CEOs and CIOs may soon be legally liable for their certifications that their companies’ financial statements are true and fair. FILE PHOTO FILE PHOTO
        FILE PHOTO  -  26 words
      • Article
        Lock icon Bosses may face legal liability for financial statements
        56 9 CHIEF executive officers and chief financial officers in Singapore may soon be legally liable for their certifications that their companies’ financial statements are true and fair. This possibility was touched upon by Minister of State for Finance and Transport Josephine Teo at
        56 words
      • Article
        Lock icon Merkel approaches poll on rocky eurozone boat
        56 9 THE eurozone has climbed out of its recession and German Chancellor Angela Merkel has received an economic growth boost as her election campaign takes off. But since Germany is virtually carrying the eurozone and Italy, Spain and Greece are still contracting debates over
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      • Article
        Lock icon Increased interest in ECs as private home sales nosedive
        63 9 EVEN as sales of private homes plunged last month, on the back of limited launches and the introduction of the Total Debt Servicing Ratio, there has been a noticeable shift in interest towards executive condominiums. Although no new EC projects were
        63 words
      • Article
        Lock icon Singapore link surfaces in Indonesian bribery case
        37 9 THE website of low-key oil trader Kernel Oil bore an “under maintenance” sign on Thursday morning, following reports in Jakarta that an executive from its Indonesian office had been arrested.
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    • Article
      Lock icon NEXT WEEK Aug 19-23, 2013
      82 9 US DATA Aug 21 July existing home sales Aug 22 July leading indicators Aug 23 July new home sales CHINA DATA Aug 21 Conference Board July leading economic index Aug 22 HSBC/Markit flash manufacturing PMI SINGAPORE DATA Aug 23 July Consumer Price Index EVENTS Aug
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  • Page 9 Miscellaneous
    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 1
      286 9 Across 1 Saw how red wine should be served (7) 5 Revenues from company involved in various mines (7) 9 I held out for foreign capital (5) 10 Tom’s vital statistics? (4,5) 11 Athlete’s big pullover (4,6) 12 Side’s superiority (4) 14 First-day cover? (8,4) 18 What had P Rubens
      286 words
    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 2
      14 9 SATURDAY with Ludwig ‘I want to spend the rest of my holiday with you
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon The holistic adviser
      2108 10 / 11  -  From customer needs to digital communications to playing a social role, Christopher Wei always looks ahead and sees opportunities. By Genevieve Cua By Genevieve Cua gen@sph.com.sg ADVICE remains the most effective way to woo and keep an insurance customer, but not just any type of advice, says
      PHOTO: ARTHUR LEE  -  2,108 words
    • Article
      Lock icon Living by example
      623 10 / 11  -  By Genevieve Cua ALONG time ago, Christopher Wei, now the group chief executive of Great Eastern Holdings, began university in a pre-medicine course, in the footsteps of a long line of doctors in his family, including his grandfather, father and brother. Organic chemistry was the subject that
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  • COMPANIES
    • Article, Illustration
      Lock icon Q2 earnings within expectations: analysts
      773 12  -  Most key sectors put up decent performance; but outlook for stocks cautious for the next few months By Cai Haoxiang haoxiang@sph.com.sg Singapore IT is difficult to disappoint when the bar is set low. Such was the story of the second quarter, when Singapore companies generally
      FILE PHOTO  -  773 words
    • Article
      Lock icon F&N mulls over launching hospitality Reit
      337 12 Bloomberg Singapore FRASER Neave Ltd (F&N), the real-estate developer that was the target of a takeover battle last year, is considering setting up a real estate investment trust (Reit) made up of hospitality assets. The company is “still evaluating the feasibility of launching a
      Bloomberg  -  337 words
    • Article, Illustration
      Lock icon Banyan Tree to revive Americas, EU projects
      596 13 It signs two contracts to run properties in Spain and is in talks to resume a couple of projects in Greece Bloomberg Singapore BANYAN Tree Holdings, an operator of spas and resorts, is seeking to expand its presence in Europe and the Americas
      Bloomberg; FILE PHOTO  -  596 words
    • Article, Illustration
      Lock icon Soilbuild Reit slumps as it makes debut amid poor sentiment
      269 13  -  By Joyce Hooi joyceh@sph.com .sg Singapore A ROUGH day for the market and continued wariness of real estate investment trusts (Reits) were the undoing of mainboard debutante Soilbuild Business Space Reit yesterday. The trust, which started trading at 2pm, took
      Source: Bloomberg  -  269 words
    • Article
      Lock icon Fed tapering looks to be sooner rather than later
      566 14 stocks THE spectre of US Federal Reserve turning off its money taps sooner rather than later loomed large over world equity markets this week, sending the Straits Times Index (STI) down 32 points or one per cent to 3,197.53 over the
      566 words
    • Article
      Lock icon Ivan Chu to take over as Cathay Pacific chief executive
      415 14 Bloomberg Hong Kong CATHAY Pacific Airways named Ivan Chu as chief executive, two days after Asia’s biggest international carrier reported its smallest profit in at least 15 years. Mr Chu, 51, will take over after annual results are announced in
      Bloomberg  -  415 words
    • Article
      Lock icon TOP 20 ACTIVES
      198 14 VOL CLOSE S i ngHaiy i 653 169 2.3 0 2 9 5 IPCO I nt l 276 ,623 3 0 2 7 1 Conte l 170 ,1 1 6 7.3 0 2 2 8 Albedo 150 ,229 2.4 0 2 9 1 Innopac 1 1 5
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    • Article
      Lock icon STI STOCKS
      113 14 Stock name Close Change CapMallsAsia 1.955 -0.015 CapitaLand 3.200 -0.040 CapitaMall 1.995 -0.005 CityDev 10.52 -0.150 ComfortDelGro 1.945 -0.010 DBS Grp 17.02 -0.120 GLP 2.720 -0.020 Genting SP 1.390 +0.010 Golden Agri 0.510 -0.005 HK Land 6.800 -0.040 HPH Trust US$ 0.735 -0.005 JMH 56.11 -0.390 JSH 34.55
      113 words
    • Article
      Lock icon TOP GAINERS
      67 14 BY CENTS CLOSE UP GLD 10US$ ***** 266.5 1.6 DBXT S&P Short 10US$ 2935 64.7 1.8 Hyflux 6% CPS 10 ***** 30.0 0.3 Lyxor Malaysia 10US$ 1007 29.2 2.3 IS MS India 100S$D 703 14.0 2.0 DBS Bk 4.7% NCPS 100 ***** 10.0 0.1 UOB MB eCW*****1 26
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    • Article
      Lock icon TOP LOSERS
      64 14 BY CENTS CLOSEDOWN Lyxor MS India 10US$ 1191 -62.2 -4.0 DBXT MSINDO 10us$ 1452 -49.5 -2.6 JMH 5611 -49.5 -0.7 Jardine C&C 3960 -48.0 -1.2 Lyxor US DJIA 10 US$ 1526 -38.1 -1.9 DBXT MSINDIA 10US$ 761 -36.8 -3.7 IS MS India 100US$ 531 -36.8 -5.2 UOB.ES.1308 2150
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    • Article
      Lock icon Elektromotive acquiring 51% of Asia Galvanizing
      241 14  -  By Annabeth Leow leowhma@sph.com.sg Singapore CATALIST-LISTED Elektromotive Group has entered into a binding memorandum of understanding to acquire a 51 per cent equity stake in hot dip galvanising plant Asia Galvanizing Pte Ltd (AGPL). Based on an agreed valuation of AGPL at $15 million,
      241 words
    • Article
      Lock icon Performance alone won’t win trust: study
      762 15  -  Investors worldwide believe there is much that can be done to restore trust in investment profession By Malminderjit Singh msingh@sph.com.sg Singapore IF you are an investment manager, you may do well in building trust with your client as he or she is likely to
      762 words
    • Article
      Lock icon AVJennings back in the black in H2
      470 15  -  By Teh Shi Ning tshining@sph.com.sg Singapore AUSTRALIAN residential property developer AVJennings returned to profitability in the second half A$3.8 million. This was much imwith a profit after tax of A$3.8 million. This was much improved from the A$33.1 million net loss recorded last
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  • Page 15 Advertisements
    • Advertisement
      Lock icon Page 15 Advertisements Column 1
      70 15 Check out these positions and 500 more in CATS Recruit today! Chomel has a vacancy for the position of Graphic Designer FURLA is recruiting a Brand Executive LHN Group has a position open for a Sales Manager Club 21 is hiring a Merchandising Manager Toll Marine Logistics (Asia) is looking
      70 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Staying ahead of the curve
      896 16  -  Business executives must be prepared and equipped for growth and cross-border expansion FROM THE DESK OF Mary Kwan Regional Director of Executive Education for the Asia-Pacific Insead TALENT development is becoming one of the most critical contributing factors to successful Asian business growth strategies today.
      896 words
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  • SINGAPORE
    • Article
      Lock icon 2 appeal jail terms for paid sex with minor
      668 17  -  One cites medical condition, the other points to how prostitute and pimp had misrepresented her as being of age By Grace Leong gleong@sph.com.sg TWO of the 51 men charged with paid sex with an underaged prostitute and who have been convicted
      668 words
    • Article, Illustration
      Lock icon An early start in languages at new Tiong Bahru pre-school
      332 17  -  By Annabeth Leow leowhma@sph.com.sg YOUNG, middle-class parents in Tiong Bahru will soon have one more option in early childhood education for their children. Hampton Pre-school, run in partnership by private operator EtonHouse and the PAP Community Foundation, which runs mass-market
      PHOTO: NURIA LING/THE STRAITS TIMES  -  332 words
    • Article, Illustration
      Lock icon Oil & gas equipment supplier does good while doing business
      1099 18  - Oil gas equipment supplier does good while doing business W2 eyes good work-life balance for staff and contribution to society even as it takes on the giants in the field By Teo Si Jia teosj@sph.com.sg HE real world is far from ideal. Still, fledgling equipment supplier W2 Industrial Services Hub
      PHOTO: ARTHUR LEE  -  1,099 words
  • Page 17 Advertisements
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      233 17 THE BUSINESS TIMES SATURDAY SPECIAL 1-FOR-1 Enjoy the second order of A lá carte Pasta on the house! (Usual price $10.00 to $14.00) Venue: Boston Seafood Shack, The Star Vista, 1 Vista Exchange Green #01-46, Singapore *****7, Tel: 6694 3984 Website: http://www.bostonseafoodshack.com.sg/ About Boston Seafood Shack Boston Seafood Shack brings
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  • WORLD
    • Article, Illustration
      Lock icon Weak sales at US retailers point to uneven recovery
      641 19 Low- and moderateincome families not keen to buy anything beyond bare essentials WP Washington SLUGGISH sales at major retailers paint a grim picture of an uneven economic recovery that has low- and moderate-income American households reluctant to buy anything beyond the
      WP; PHOTO: AP  -  641 words
    • Article
      Lock icon Syrian hackers target CNN, Time, Washington Post sites
      322 19 Reuters Washington HACKERS promoting the Syrian Electronic Army (SEA) simultaneously targeted websites belonging to CNN, Time and The Washington Post on Thursday by breaching Outbrain, a firm which publishes content recommendations on those sites. That resulted in some WashingtonPost.com and Time.com customers
      Reuters  -  322 words
    • Article, Illustration
      Lock icon Investor returns to China stocks for big returns
      590 20 Buffett acolyte Zhao Danyang’s Pureheart Capital has made more than 20% gains Bloomberg Hong Kong ZHAO Danyang, the Chinese investor who won a charity lunch with billionaire Warren Buffett in 2008, led his hedge funds to post returns three times more than
      Bloomberg; PHOTO: BLOOMBERG  -  590 words
    • Article
      Lock icon Digital trade a boon but barriers stifle growth: US
      494 20 Senator stresses need to address these obstacles to help US economy grow Reuters Washington A NEW US government report has highlighted both the growing importance of digital trade to the United States and a long list of trade barriers that US
      Reuters  -  494 words
    • Article, Illustration
      Lock icon Dozens killed in fresh clashes in Egypt
      567 22 Mursi supporters defy state of emergency; explosives detonated on rail tracks Reuters AP Cairo MUSLIM Brotherhood protests plunged into violence across Egypt yesterday, with around 50 killed in Cairo alone on a “Day of Rage” called by Islamist followers of ousted president Mohamed
      Reuters; AP; PHOTO: AP  -  567 words
    • Article
      Lock icon Indonesia aims to keep investors coming
      286 22 Reuters Jakarta INDONESIA will prepare a stimulus package to encourage companies to avoid lay-offs and will keep South-east Asia’s biggest economy attractive to investors, President Susilo Bambang Yudhoyono said yesterday in his 2014 budget speech to parliament. His government will make “extra efforts” to
      Reuters  -  286 words
    • Briefing
      • Article
        Lock icon US regulator okays NYSE Euronext-ICE tie-up
        57 22 AFP Washington The US Securities and Exchange Commission (SEC) announced its approval yesterday of the takeover of exchange operator NYSE Euronext by the IntercontinentalExchange (ICE). The US markets regulator cleared the way for the long-pending tie-up, which would create what the two say will
        AFP  -  57 words
      • Article
        Lock icon China to probe IBM, Oracle and EMC
        69 22 Reuters ShanghaiChina’s Ministry of Public Security and a Cabinet-level research centre are preparing to probe IBM Corp, Oracle Corp and EMC Corp over security issues, the official Shanghai Securities News said yesterday. The report follows former US spy agency contractor Edward Snowden’s assertion
        Reuters  -  69 words
      • Article
        Lock icon Britain to tax offshore gambling havens
        80 22 Reuters London Online betting companies based in offshore havens to sidestep Britain’s gambling taxes will be hit with a new levy that could cost the industry £300 million (S$595 million) under rules unveiled yesterday. The British government is to impose a 15 per cent
        Reuters  -  80 words
      • Article
        Lock icon Nod for China Merchants Bank share sale
        72 22 Bloomberg Beijing China Merchants Bank Co, the nation’s sixth-largest lender by assets, won approval for the Hong Kong portion of a share sale, clearing the way for what may be the world’s second-largest stock offering this year. The bank was given permission by
        Bloomberg  -  72 words
  • Page 19 Advertisements
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      Lock icon Page 19 Advertisements Column 1
      37 19 HI/NIM MEGAGUIDE: DIGITAL PHOTOGRAPHY 3,0 Now Available in Digital Edition for iPad! Over 60 in-depth photography topics from beginner to expert levels. Hl/MM I DIGITAL PHOTOGRAPH: MEGAGUID OnOenU no dnu cm 170 PAGES OF PHOTOGRAPHY .MAW®. sPHmagazines
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  • Page 21 Advertisements
    • Advertisement
      Lock icon Page 21 Advertisements Column 1
      118 21 3 V D Looking for a bigger business space for your SME? You’re looking at the right ad Y/7. "V A w 1 X W<M a S fH S', ft Search for your ideal business space from over 5,000 commercial and industrial properties iHr ir Discover Top 10 Popular Projects
      118 words
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  • SGX
    • Article
      Lock icon SGX MAINBOARD
      8108 23 Transaction date: Aug 16 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 12 8Telecom 12.3 12.1 14.3 10.6 0.9 10.2 58.9 8.8 3.1 A-Sonic 5.9cd +0.2 109 5.9 5.9 5.7 5.9 2.2
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    • Article
      Lock icon SGX CATALIST
      1892 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 $mil 27.5 17.1 t 800 Super 25 -0.5 86 25 24.5 24.5 25 3.3 4 7.5 44.7 6.2 2.8 t AA Grp 2.8 3 140 2.7
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 1 10 3 0 0 0 1 10 3 Manufacturing 42 47 44 9 6 9 51 53 53 Commerce 18 23 15 7 3 4 25 26 19 Tpt/Stor/Comms 9 19 12
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      789 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Aug 12 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Fragrance Grp 15-Aug-13 Koh Wee Meng Buy 6000 0.24 *****00 73.45 *****00 73.54 Fragrance Grp 15-Aug-13 Lim
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 16,545 16,545 47,944 47,944 Manufacturing 467,163 83,916 551,079 181,826 3,280 185,106 Commerce 114,267 203,652 317,919 90,395 6,920 97,315 Tpt/Stor/Comms 125,692 16,501 142,193 141,020 6,702 147,722 Finance 139,587 3,145 142,732 221,412 1,290 222,702 Construction 348,191 56,402
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  • MARKETS
    • Article
      Lock icon LIFFE
      94 27 Aug 15 COCOA (£/tonne) Close Prev High Low Sep 13 1647 1652 1665 1639 Dec 13 1652 1655 1669 1643 Mar 14 1632 1637 1649 1624 May 14 1631 1635 1645 1622 COFFEE(US$/tonne) Close Prev High Low Sep 13 1952 1959 1967 1936 Nov 13 1918 1926 1933 1902
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      65 27 Aug 16 GOLD(US$/oz) Aug 15 Aug 16 Hong Kong 1347.00 1369.00 Aug 14 Aug 15 London 1332.07 1328.98 1332.85 1329.83 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 29.59 28.81 Source: UOB PLATINUM Lon (US$/oz) Aug 15 Close Previous PM Fix 1504.00 1491.00 AM Fix 1519.00 1491.00 Source:
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      Lock icon FOREIGN CURRENCY NOTE RATES
      118 27 Aug 16 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.185 1.129 Can dollar 1.254 1.206 Euro 1.732 1.650 Sterling pound 2.020 1.943 NZ dollar 1.048 1.008 US dollar 1.294 1.233 Local dollars to 100 units of foreign currency: Currencies Sell
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    • STOCK MARKETS
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        Lock icon Straits Times Index
        20 27 YTD change: +0.96% 52-week high: 3,464.79 on May 22,2013 52-week low: 2,931.60 on Nov 16,2012 Source: Bloomberg
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        20 27 YTD change:-0.61% 52-week high: 23,944.74 on Feb 4, 2013 52-week low: 19,076.79 on Sept 6,2012 Source: Bloomberg
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        Lock icon Dow Jones Industrial Average
        25 27 YTD change:+15.32% 52-week high: 15,658.43 on Aug 2,2013 52-week low: 12,471.49 on Nov 16,2012 (Chart shows Thursday’s index closing) Source: Bloomberg
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        Lock icon Shanghai Stock Exchange Composite
        21 27 YTD change: -8.84% 52-week high: 2,444.80 on Feb 18,2013 52-week low: 1,849.65 on June 25,2013 Source: Bloomberg
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        20 27 YTD change: +31.31% 52-week high: 15,942.60 on May 23, 2013 52-week low: 8,488.14 on Oct 15,2012 Source: Bloomberg
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      Lock icon PALM OIL
      57 27 Aug 16 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 13 2358.0 2367.0 2382.0 2358.0 1053 7348 Oct 13 2340.0 2324.0 2352.0 2322.0 7730 ***** Nov 13 2320.0 2309.0 2336.0 2305.0 ***** ***** Dec 13 2302.0 2303.0
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      Lock icon GOVERNMENT SECURITIES
      90 27 Aug 16 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*****V 07-Feb-14 0.28 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 97.91
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      Lock icon INTERBANK CURRENCY RATES
      155 27 Aug 16 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1642 1.1651 0.9175 0.9179 Canadian dollar 1.2307 1.2317 0.9704 0.9699 Euro 1.6930 1.6939 1.3342 1.3345 NZ dollar 1.0260 1.0271 0.8086 0.8092 Sterling pound 1.9832 1.9839 1.5629 1.5630
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      Lock icon CHICAGO BOT
      104 27 Aug 15 SOYBEANS(5,000 bu min; USc/60 lb bushels) Close Previous High/Low Sep 13 1288.25 1269.50 1294.00 1271.00 Nov 13 1265.50 1239.00 1269.00 1239.25 Jan 14 1268.25 1243.25 1271.50 1243.50 Mar 14 1260.00 1239.75 1264.00 1240.00 SOYBEAN OIL(60,000 lbs; USc/lb) Close Previous High/Low Sep 13 43.12 42.34 43.18 42.28
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      Lock icon OIL
      68 27 Aug 15 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 109.92 1.42 WTI (Near Mth) 107.24 0.38 Dubai (1-Mth F) 106.17 1.79 Tapis blend 118.04 1.93 Minas 110.74 1.93 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 101.83 1.50 Jet Kerosene 125.27 1.22 US$/barrel OpecOil Basket Price 107.96
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      Lock icon LONDON METALS
      72 27 Aug 15 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1861.00 1844.50 3 months 1908.00 1892.50 Copper, Grade A (US$/tonne) Cash 7282.25 7293.75 3 months 7309.00 7318.00 Lead (US$/tonne) Cash 2198.50 2198.50 3 months 2207.00 2209.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      373 27 In local curr In S$ In US$ dy yr dy yr dy yr Aug 15 Index Change Change Change Change Change Change World Preliminary 1082.5 -1.1 15.4 -0.7 17.7 -1.1 12.8 EAFE Preliminary 889.9 -1.1 14.9 -0.7 14.3 -1.1 9.5 Europe Preliminary 1272.0 -1.1 10.9
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  • PERSPECTIVE
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      Lock icon The lowdown on Chinese spending
      954 28 / 29  -  This first wave of shoppers from China have already satisfied their initial urge to shop. Those in subsequent waves have lower spending power. By Stefan Ellrott power.By Stefan Ellrott ~The writer is country manager at Global Blue Singapore. CHINA’S economy appears to be losing steam
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      Lock icon The Washington Post – past, present and future
      849 28 / 29  - The Washington Post past, present and future Robert Samuelson The Wash ington Post Writers Group WHEN I was a young reporter in the 1970s, one of my assignments was covering the troubled US steel industry, which was taking a beating from new technologies (so-called “mini-mills”), cheap imports and outdated union
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  • Wealth
    • WEALTH INVESTING
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        Lock icon US analysts’ IPO role under scrutiny
        1386 30 / 31  -  Potential conflict of interests arises as companies interview analysts when selecting bankers to underwrite their IPOs. By Peter Lattman and Susanne Craig By Peter Lattman, Susanne Craig NYT New York THE market for initial public offerings (IPOs) has made a comeback, surging to levels
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        Lock icon BROKER’S TAKE
        695 30 / 31  -  Compiled by Teh Shi Ning Petra Foods Invest Voyage Research Aug 16 Aug 16 close: $3.90 PETRA Foods reported net profit of US$14.8 million from the branded consumer business for Q2 FY13, up 13.6 per cent from a year ago in local currency. Q2 FY13 gross margin moved
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        Lock icon Gold investors seek Alpine safe haven
        1067 32  -  Demand for storing gold bars, coins in Swiss vaults rises amid eurozone debt crisis. By Patrick Winters Bloomberg Zurich THE week after Cyprus said in March it would impose a levy on bank deposits of more than 100,000 euros (S$169,335) amid Europe’s debt crisis,
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        Lock icon The three measures of value
        1339 33  -  Study the balance sheet to see the distinctions between the different methods, suggests an NYU finance professor SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior Correspondent MARKET value of equity, firm value and enterprise value how do they differ? Early last year, Apple was
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    • WEALTH REAL ESTATE
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        Lock icon HK developers shun Shenzhen auction
        737 34 Sale of commercial site in ambitious Qianhai free trade zone attracts just two mainland bidders Reuters Hong Kong A MUCH-HYPED land auction in a developing free trade zone in southern China failed to attract any of Hong Kong’s powerful property developers, signalling growing investor caution
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        433 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN JULY 17 AND JULY 23, 2013 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED V On Shenton Apt 19/07/2013 99 1206 2760 2289 District 5 NON-LANDED Newest Apt
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        Lock icon Pricing flexibility helping to clinch GCB sales
        638 35  -  Bungalow on Second Avenue and Leedon Park vacant site among latest properties to change hands By Kalpana Rashiwala kalpana@sph.com.sg Singapore AT least a couple of deals in Good Class Bungalow Areas (GCBAs) have been sealed lately. These include a newly built house on
        638 words
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        Lock icon Sturdee Road residential site released on GLS Reserve List
        412 35  -  By Mindy Tan tanmindy@sph.com.sg Singapore A SMALL residential site at Sturdee Road, which is expected to yield about 265 homes, has been made available for application under the Reserve List of the Government Land Sales (GLS) Programme. The 99-year leasehold plot,
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      104 36 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE UNIQUE ASYMMETRIC STYLING OF THE AUDEMARS PIGUET MILLENARY COLLECTION HAS TRANSFORMED THE WAY DESIGN ENGINEERS DEVELOP CALIBRES. THIS TRI-DIMENSIONAL MOVEMENT COMBINES PERFORMANCE AND CHRONOMETRY WITH HAUTE HOROLOGY MICRO-DETAILING. IN THE TRANSVERSAL BALANCE-BRIDGE, OPTIMUM SHOCKRESISTANCE IS COMBINED WITH THE ELEGANCE OF
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      70 1 STYLE Blue-chip baubles L6-7 DESIGN Cream of the crop L8-9 BT Living THE BUSINESS TIMES WEEKEND AUGUST 17 18 2013 MUCH ADO ABOUT SOMETHING New cafes brewing a robust coffee scene L2-5 BT WINE CHALLENGE 2013 Australia’s good earth L12-13 PHOTO: REVOLUTION COFFEE BT CORPORATE GOLF LEAGUE A challenging course
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  • BT Living
    • DINING
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        Lock icon Much ado about something
        3737 2 / 3  -  There are cafes, and then there are speciality coffee joints. BT Weekend rounds up the latest fray of cafes hoping to brew a more robust speciality coffee scene in Singapore By Debbie Yong debyong@sph.com.sg By Rachel Loi rachloi@sph.com.sg By Natalie Koh btnews@sph.com.sg Common Man Coffee Roasters
        DRURY LANE AND DEPARTMENT OF CAFFEINE PHOTOS: YEN MENG JIIN; CRAFT BAKERY & CAFE PHOTOS BY YEN MENG JIIN  -  3,737 words
    • STYLE
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        Lock icon Blue-chip baubles
        1692 6 / 7  -  More than just head-turning fashion statements, the value of fine jewellery tends to hold its own for generations. Blue-chipbaubles By May Yip btnews@sph.com.sg WHEN it comes to luxury splurges, women the world over often gravitate towards stylish head turners like the status bag. But sometimes such swish purchases
        PHOTOS: BULGARI; PHOTOS: SIMONE JEWELS; PHOTOS: VAN CLEEF & ARPELS  -  1,692 words
    • DESIGN
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        Lock icon CREAM OF THE CROP
        1013 8 / 9 Tay Suan Chiang singles out 10 winners of this year’s Red Dot Award for product design taysc@sph.com.sg DO you own an iPhone5, listen to your music on a pair of Beats by Dr Dre headphones, or drive a Volkswagen Golf? If the answer is yes, then
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    • HOME & GARDEN
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        Lock icon ORDER OF THE DAY
        1111 10 / 11  -  Things can sometimes get messy with three children around, but the Cheongs show that their three-storey terrace house where three generations live, is anything but that. By Tay Suan Chiang personal space By Tay Suan Chiang taysc@sph.com.sg MOST parents know that when you have young children,
        PHOTOS: YEN MENG JIIN  -  1,111 words
    • BT WINE CHALLENGE 2013
      • Article, Illustration
        Lock icon Australia’s good earth
        2455 12 / 13  -  Our second write-up in the series digs deep to uncover Down Under’s premium bottles. By June Lee ACCORDING to the most recent Wine Australia report in July 2013, Australia ranks fourth among the world’s 10 biggest wine exporters in the average value per litre of bottled wine
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    • HEALTH
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        Lock icon Store stem cells to safeguard future
        925 14 / 15  -  The day that a new organ can be grown using a person’s own stem cells to repair damaged organs and treat diseases is in sight. By Cheah Ui-Hoon By Cheah Ui-Hoon uihoon@sph.com.sg IMAGINE the day when medical science can grow a new heart or
        PHOTO: SCEIL SINGAPORE  -  925 words
    • SPORTS
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        Lock icon An EPL season of many firsts
        961 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Correspondent THE 22nd season of the wildly popular English Premier League (EPL) starts tonight, but this campaign will go down in history as one of many firsts. For starters, it will be the first time since 1986 that
        PHOTO: REUTERS; PHOTO: AFP  -  961 words
    • BT CORPORATE GOLF LEAGUE 2013
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        Lock icon A challenging course awaits
        571 17  -  Jurong Country Club is hosting the third round of the BT Corporate Golf League for the first time. By Justine Moss btnews@sph.com.sg WHEN the third round of The Business Times Corporate Golf League tees off next week, it will be on the challenging Jurong Country Club
        571 words
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        Lock icon Stunning layout, good green speeds
        337 17 JURONG Country Club’s course has gone through a major upgrade over the past two years, with the front nine completed in May 2011 and the back nine open for play in July last year. As a result, the layout is quite spectacular, in particular the
        337 words
    • MOTORING
      • Article, Illustration
        Lock icon Setting the Pace
        608 18  -  The all-wheel-drive Mini John Cooper Works Paceman is the most powerful Mini ever. By Samuel Ee samuelee@sph.com.sg MINI’S 1.6-litre turbocharged engine has always impressed with its deep reserves of power despite a relatively small displacement, but now, there is an even more powerful version of this sparkling
        608 words
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        Lock icon A Class of its own
        599 19  -  The new Mercedes-Benz CLA-Class is a groundbreaking small saloon from the brand with the three-pointed star. By Samuel Ee By Samuel Ee samuelee@sph.com.sg LOOKING at the Mer-cedes-Benz CLA-Class, it is easy to believe that the launch of this compact sedan was able to boost the
        599 words
      • Article, Illustration
        Lock icon SILENT RUNNING
        532 20  -  The new Michelin Primacy 3 ST is a cost-effective high-tech tyre that promises both quiet comfort and safety. By Samuel Ee By Samuel Ee samuelee@sph.com.sg DRIVING in Asia can be stressful, to say the least, so Michelin believes a quiet and comfortable tyre will help restore some tranquillity.
        532 words
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      74 12 / 13 The inaugural The Business Times Wine Challenge 2013 in partnership with UBS seeks to uncover the top 50 wines available in Singapore. A distinguished panel of CEOs will choose the 10 best-drinking among them decisions which will be announced in September. A unique buyer’s guide to all 50 wines, reflecting
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      1274 14 / 15 wine&dine with BTWeekend Peach Blossoms Marina Mandarin, Singapore Level 5 6 Raffles Boulevard Z6845 1111 Traditional Moon cakes Aug 12 to Sept 19 Celebrate Mid-Autumn Festival with a delectable selection of mooncakes specially prepared by our talented Dim Sum Chefs at Peach Blossoms. Especially for this year, our chefs have
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      33 16 HOME NEE S M Throw some new light on your home. To find out more, turn to CLASS 106 in CATS Classified in The Straits Times now. WATS BUY IT-SELL IT* FIND IT
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