The Business Times, 21 August 2013

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Total Pages: 27
1 28 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Wednesday, August 21, 2013
    25 words
  • Article, Illustration
    Lock icon As IT becomes simple, talent gets scarce
    910 1  -  Major crunch looms, especially for experienced professionals, surveys find By AMIT ROY CHOUDHURY amit@sph.com.sg [SINGAPORE] The IT industry is facing a serious shortage of talent and the situation will only get worse. This trend is emerging even as the IT processes that keep
    910 words
  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 HST INDEX 3,128.75 (-44.58) HST INDEX FUTURES 3,121.00 (-44.00) HSIMSCI 356.05 (-5.56) HSIMSCI FUTURES 354.60 (-5.30) US$ S$ US$ (S$ per US$) 1.278 (US$/S$ per 1.565 2.000 EURO (US$/S$/€ 1.334 1.705 Foreign currency per US$ S$ YEN 97.10 76.00 RM 3.291 2.576 HK$ 7.755 6.070 BAHT 31.65 24.77 RUPIAH
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    • Article
      Lock icon MARKETS
      47 1 Tuesday Change KL COMP 1,745.42 -32.94 NIKKEI 225 13,396.38 -361.75 HANG SENG 21,970.29 -493.41 SET INDEX 1,370.86 -27.62 JAKARTA COMP 4,174.98 -138.54 MANILA COMP Closed SEOUL COMP 1,887.85 -29.79 SHENZHEN B 817.14 -4.73 MUMBAI IND 18,246.04 -61.48 12noon EDT Change DOW 15,068.95 +58.21 NASDAQ 3,620.64 +31.55
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    • Article
      Lock icon PRIME RATES
      21 1 SINGAPORE 5.38 MALAYSIA INDONESIA HONG KONG TAIWAN INDONESIA 13.302 TAIWAN 5.036 JAPAN 1.475 SWITZERLAND 9.33 INDIA 0.50 Source: Bloomberg
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  • Article
    Lock icon Indonesia back to future as overseas investors run for exit
    898 1  -  BY JEFFREY HUTTON in Jakarta WHEN Bank Indonesia (BI) sold the country’s first tranche of 30-year bonds in October 2005, it was greeted as a massive vote of confidence in a financial system which, just seven years earlier, was teetering
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      117 1 EMERGING ENTERPRISE Raising the roof on energy efficiency PAGE 9 COMMENTARY Will China prevail? PAGE 17 COMPANIES Iskandar player eyes Albedo in potential RTO PAGE 5 STRAIT TALK Perils of navigating Arctic waters PAGE 18 Challenges for retirement income security EXECUTIVE MONEYIPAGE 26 8 8871 81 *****4 GOLDEN BRIDGE AUTOMATIC
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  • TOP STORIES
    • Article
      Lock icon THREE-MINUTE DIGEST
      535 2 As IT becomes simple, talent gets scarce A RECENT A T Kearney study on how the IT landscape will look in 2020 notes that there is a startling deficit of experienced specialists in various crucial Infocomm disciplines and it will become more acute. FRONT PAGE Indonesia back to
      535 words
    • Article
      Lock icon Work on ultra-deep power tunnels to start next year
      501 2  -  The $2b project to carry high-voltage power cables is on schedule, says SP By RONNIE LIM ronnie@sph.com.sg [SINGAPORE] Work on Sing a p o r e s 2 billi on next-generation power network is “on track and on schedule”, says Singapore
      501 words
    • Article, Illustration
      Lock icon Seafront project in Penang set to boost E&O
      556 2  -  By PAULINE NG in Kuala Lumpur A PUBLIC dialogue taking place on Saturday on a proposed luxury residential and commercial development on reclaimed land in Penang could signal Eastern Oriental’s (E&O) share performance in the coming weeks. The project is the 307
      PHOTO: BLOOMBERG  -  556 words
    • Article, Illustration
      Lock icon Rupee falls to record low before RBI steps in
      580 2 Reuters [MUMBAI] The Indian rupee slumped to a record low in early trade yesterday and bond yields hit another five-year high as Asia’s third-largest economy bore the brunt of growing money flows out of emerging markets. The rupee slumped as much
      Reuters; PHOTO: AP  -  580 words
    • Article
      Lock icon High Court lifts sealing order on RBS documents
      652 4  -  Public access allowed in lawsuit now that US, UK regulators had completed Libor probe By GRACE LEONG gleong@sph.com.sg [SINGAPORE] The High Court has discharged a sealing order on public access to documents in a wrongful dismissal lawsuit by former Royal Bank of
      652 words
    • Article, Illustration
      Lock icon Club’s former polo captain sues 4 parties
      529 4  -  By GRACE LEONG gleong@sph.com.sg [SINGAPORE] Five months after he was elected as the Singapore Polo Club’s polo captain, Dr Ali Namazie was stripped of his post, leading him to sue the club, its president Iqbal Jumabhoy and two other committee members. In court
      FILE PHOTO  -  529 words
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      65 2 The best pure-play private bank in Asia. Bank EFG Asiamoney Private Banking Poll 2012 30 global locations www.efginternational.com 13 LX7 "7 > c J FIND THE ONES THAT FIT! > I rJ V n n tf.-j -7 Recruit the right people through CATS Recruit. Call 1800 289 8822 or email
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      200 2 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF NATIONAL STARCH CHEMICAL (SINGAPORE) PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****4510R NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act, Cap. 50, that a Final Meeting of the Members of
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      107 3 1 '1 3 3 4 ■a p k •V: c P pi ifev > > s «!< fa Jtt m v. 69 I 118 LOVE sculpture by Robert Indiana meets be Nouvel Ardmore by Jean Nouvel. Living Art, Living Heritage Does art imitate life? Or life, art? We like to
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      147 4 ANNIVERSARY gmmmMBg p 100% USEFUL! lens. SINGAPORE'S NO. 1 MEN'S MAGAZINE 4-WEEK GYM-FREE PLAN MAXIMUM! MUSCLE SINGAPORE SEPTEMBER 2013 MENSHEALTH.COM.SG ARE YOU MHSTROHB? Ml THE muEim :-ij; BE A SEX BRAIN I AC SMARTTRICKSTO IMPRESS HER IT F S OUR BIRTHDAY... BUT THE PRESENTS ARE YOURS! In this September issue,
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  • COMPANY NEWS
    • Article
      Lock icon Iskandar player eyes Albedo in potential RTO
      335 5  -  Plan is for Temasya Cergas to pump five land parcels into Albedo By VIVIEN SHIAO vshiao@sph.com.sg ALBEDO Ltd, a company that trades in steel and other raw materials, plans to purchase 762 acres (308 hectares) of land in Iskandar Malaysia from Temasya Cergas
      335 words
    • Article, Illustration
      Lock icon Ellipsiz Q4 net falls; full-year profit more than doubles
      451 5  -  By TEH SHI NING tshining@sph.com.sg ELLIPSIZ Ltd reported a 27 per cent drop in fourth quarter net profit to $2.8 million, from $3.8 million last year, which came as revenue fell 31 per cent to $30.7 million from $44.4 million a
      FILE PHOTO  -  451 words
    • Article
      Lock icon KrisEnergy, UAE firm in Thai Gulf project
      400 5  -  Venture with Mubadala Petroleum could yield 15,000 bpd of oil By RONNIE LIM ronnie@sph.com.sg NEW oil and gas E&P listing KrisEnergy is partnering UAE’s Mubadala Petroleum to develop a Gulf of Thailand concession which could yield up to 15,000 barrels per day of
      400 words
    • Article, Illustration
      Lock icon Keppel FELS bags US$280m deal with Floatel
      392 7  -  Fellow rig-builder Sembmarine signs MOU with Saudi Aramco for study By ANDREA SOH sandrea@sph.com.sg KEPPEL FELS, a whollyowned unit of the world’s largest oil-rig builder Keppel Corp, has won a US$280 million contract with Floatel International to build a fifth accommodation semi-submersible. This
      FILE PHOTO  -  392 words
    • Article
      Lock icon Keong Hong in $5m convertible bond deal
      308 7  -  Funds for 5% Kori bonds to come from internal resources By MINDY TAN tanmindy@sph.com.sg KEONG Hong Holdings has entered into a convertible bond subscription agreement with Kori Holdings to subscribe for a $5 million convertible bond. The bond, which is due in 2016,
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    • Article
      Lock icon CNOOC beats estimates with 7.9% rise in H1 earnings
      350 7 Reu ters [HONG KONG] China’s CNOOC Ltd, which closed its US$15.1 billion acquisition of Canadian energy producer Nexen in February, posted a 7.9 per cent gain in its first-half earnings, beating estimates, as increased output offset lower crude prices and higher
      Reuters  -  350 words
    • Article, Illustration
      Lock icon STATS ChipPAC scores in chip packaging design
      384 8  -  New technology provides better performance, size and cost benefits By AMIT ROY CHOUDHURY amit@sph.com.sg STATS ChipPAC yesterday announced a breakthrough in its embedded packaging design for chips meant for use in powerful mobile devices. Using its ultra-thin embedded Wafer Level Ball (eWLB) Grid
      FILE PHOTO  -  384 words
    • Article
      Lock icon SJM teams up with Versace to build hotel in Macau
      276 8 Bloomberg [HONG KONG] SJM Holdings Ltd, Asia’s biggest casino company, said it signed an agreement with Italian fashion house Gianni Versace SpA to build a hotel under the luxury company’s brand at its upcoming Macau gambling resort. The five-star Palazzo
      Bloomberg  -  276 words
    • Article, Illustration
      Lock icon Malaysia Airlines posts Q2 loss
      365 8 AFP [KUALA LUMPUR] Struggling flag carrier Malaysia Airlines (MAS) said yesterday it has recorded a second consecutive quarterly loss after failing to overcome drag from earlier borrowings. The airline said it made an operating profit of RM7.9 million (S$3.1 million) in the second quarter ending
      AFP; FILE PHOTO  -  365 words
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      539 5 0(0 www.matrix.sg Save up to 80% on your international 1 bills Benefits: Free incoming calls in most countries' Free bundled minutes to Singapore while overseas No need to top up value Post-paid service, payment upon return from trip Post paid SIM cards available for 25 countries Detailed call records for
      539 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon STI dips on tapering anxiety
      477 6  -  Pullback comes on higher market turnover, with 3.08 billion units worth $1.65 billion traded STOCKS JOYCE HOOI joyceh@sph.com.sg Correspondent AFTER a cautious start to a week that had the potential to bring either good or bad tidings, the market decided yesterday that it would possibly
      Source: Bloomberg  -  477 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      73 6 Aug 20 VALUE CLOSE BT OB/OS -703.00 -251.00 BT CADI -*****.00 -284.00 BT 10-day MA -*****.00 -70.00 FTSE ST Mid Cap 736.53 -10.68 FTSE ST Small Cap 542.34 -8.09 FTSE ST All Share 764.26 -10.96 FTSE ST China Top 194.19 -2.27 FTSE ST China 225.88 -2.00 FTSE
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 1 11 2 0 0 0 1 11 2 Manufacturing 23 91 38 5 12 10 28 103 48 Commerce 9 34 19 1 8 4 10 42 23 Tpt/Stor/Comms 1 34 7
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    • Article, Illustration
      Lock icon BROKERS’ TAKE
      904 6  -  Compiled by ANDREA SOH Pan-United Corporation Aug 20 close: $0.87 CIMB Research, Aug 19 PAN-UNITED Corp (PUC) intends to boost its revenue across the region by increasing its stake in Changshu Xinghua Port Co Ltd (CXP). This decision is probably the most important one that management has to
      Source: Bloomberg  -  904 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 22,319 22,319 66,742 66,742 Manufacturing 323,766 137,952 461,718 171,871 4,050 175,920 Commerce 187,497 230,216 417,713 157,454 7,221 164,675 Tpt/Stor/Comms 175,893 24,747 200,640 180,124 9,869 189,993 Finance 248,479 10,162 258,641 260,815 4,197 265,012 Construction 78,259 67,654
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    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      114 6 Stock name Close Change CapMallsAsia 1.945 -0.020 CapitaLand 3.150 -0.050 CapitaMall 1.935 -0.030 CityDev 10.40 -0.240 ComfortDelGro 1.885 -0.040 DBS Grp 16.49 -0.270 GLP 2.660 Genting SP 1.370 -0.035 Golden Agri 0.520 HK Land 6.760 -0.050 HPH Trust US$ 0.730 -0.010 JMH 53.40 -0.220 JSH 32.25
      114 words
    • Article, Illustration
      Lock icon Euro rises as stocks fall; rupiah slumps
      504 6 CURRENCIES Bloomberg [EDINBURGH] The euro and Swiss franc strengthened yesterday as a slide in stocks around the world fuelled demand for the relative safety of the currencies against emergingmarket counterparts. The yen strengthened for the first time in three days against the dollar.
      Bloomberg; PHOTO: BLOOMBERG  -  504 words
    • Article
      Lock icon MOST ACTIVE STOCKS
      54 6 VOLUME HanKore 327,880,000 Mirach Energy 229,431,000 Innopac 219,769,000 Albedo 204,110,000 SingHaiyi 130,071,000 CNA 118,981,000 Cedar 86,633,000 FreightLinks 68,034,000 Noble Grp 53,724,000 Infinio 48,971,000 VALUE($) Mirach Energy 97,403,950 DBS Grp 84,755,350 SingTel 74,597,740 OCBC Bk 67,052,140 UOB 55,172,950 Noble Grp 44,967,585 JMH 38,633,553 Genting SP 38,550,502 Innopac 34,341,814
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    • Article
      Lock icon RISES
      120 6 BY CENTS CLOSE UP Lyxor Europe 10 US$ 1395 28.1 1.6 DBXT S&P Short 10US$ 2966 19.2 0.5 Straits Trdg 434 9.0 2.1 Venture Corp 743 7.0 1.0 UE E&C 92.5 6.5 7.6 Hyflux 6% CPS 10 ***** 5.0 0.0 ABR Hldgs 80 4.0 5.3 ShangriLa Asia 1204 4.0
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    • Article
      Lock icon FALLS
      129 6 BY CENTS CLOSE DOWN DBXT AUDCS 5US$ *****-3126.0 -11.3 Lyxor Indonesia10US$ 7800 -668.1 -6.3 DBXT Nifty 10US$ 8550 -306.6 -2.7 DBXT AUD Bonds 5AU$ ***** -243.7 -1.1 DBXT MSJAP 10US$ 4419 -201.8 -3.5 Jardine C&C 3674 -167.0 -4.3 GLD 10US$ ***** -152.0 -0.9 DBXT MSTHAI 10US$ 1882 -130.3 -5.1
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 6 DAILY
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      881 7 Register by September 4th to save up to US$500 on the most advanced information security training worldwide! SOS October Singapore 21 October 2 November 2013 www.sans.org/event/singapore-sos-2013 Event Location: Grand Copthorne Waterfront Hotel "SANS takes you to places you never thought of to be the best you need to be trained
      881 words
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      37 7 MOONMACHINE i i r o f HOROLOGICAL LAB THE HOURGLASS SINGAPORE PARAGON MORE PASSION TEL: 65-6735 6466 ION ORCHARD L'ATELIER TEL: 65-6509 9268 KNIGHTSBRIDGE MALMAISON TEL: 65-6884 8484 KUALA LUMPUR PAVILION SHOPPING MALL TEL: 603-2148 8930 WWW.THEHOURGLASS.COM
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  • SINGAPORE NEWS
    • Article
      Lock icon Domestic wholesale trade slips 1.1% in Q2
      357 9  -  Decline in sales of petroleum and petroleum products also sees 1.4% fall in foreign wholesale trade By KELLY TAY kellytay@sph.com.sg SINGAPORE’S domestic wholesale trade dipped 1.1 per cent in the second quarter of 2013 compared to a year ago, the Department of Statistics
      357 words
    • Article, Illustration
      Lock icon Good-hearted doctor named BH Achiever of the Year
      555 9  -  Heart specialist attributes success to a sound work ethic By ANNABETH LEOW leowhma@sph.com.sg SINGAPORE’S first Malay heart specialist, Dr Abdul Razakjr Omar, was recognised last night as the 15th Berita Harian Achiever of the Year. Prime Minister Lee Hsien Loong, who was
      PHOTO: DESMOND WEE/THE STRAITS TIMES  -  555 words
    • Article, Illustration
      Lock icon Raising the roof on energy efficiency
      1015 9  -  Energy consultancy firm G-Energy Global aims to become a green builder and developer, reports JASMINE NG reportsJASMINE reportsJASMINE NG jasng@sph.com.sg TALK about taking Singaporeans’ love for food to a higher level. Energy consultancy firm G-Energy Global is hoping to turn more rooftop spaces into
      PHOTO: ARTHUR LEE  -  1,015 words
    • Article
      Lock icon Mexico keen to boost commercial ties with S’pore, says minister
      379 9  -  BY MALMINDERJIT SINGH msingh@sph.com.sg MEXICO is looking to strengthen its relations with Singapore, particularly commercially, according to the country’s foreign minister. Singapore plays a key role in Mexico’s efforts to increase its presence in the Asia-Pacific to promote its own
      379 words
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  • MALAYSIA/INDONESIA
    • Article, Illustration
      Lock icon KL mulling phone taps, Net monitoring in anti-graft war
      698 10 Govt also wants to make company directors liable for staff corruption Bloomberg [KUALA LUMPUR] Malaysia may allow phone-tap-ping and Internet monitoring as it steps up the war on corporate and government graft, which costs the country as much as US$9 billion
      Bloomberg; PHOTO: BLOOMBERG  -  698 words
    • Article
      Lock icon Indonesia conducting oil tenders as usual
      285 10 But energy regulator will review internal procedures after major graft scandal Reuters [JAKARTA] Indonesia’s energy regulator is conducting its oil, condensate and natural gas sell tenders as usual, but will review its internal procedures following a major graft scandal, the agency’s interim chief said
      Reuters  -  285 words
  • Page 10 Advertisements
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      11 10 CATS Recruit The first step on your ladder to success CLA/AUG06/g
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      23 10 HOT IPO Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. ESAT3 NOTICES
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      145 10 Wine, Dine Hospitality Highlights 1 V 't: >• 'i. Y 0 m**(A/out) you like live e*rs? Its hard to say no when youut tasted Serenity s roasted suckliny piy (available in //</, \(i Jy full portions). So crispy is the skin and so succulent and tender is the meat you
      145 words
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  • Article, Illustration
    Lock icon Making accounting productive
    1007 11 Various benchmarks can be used to improve the productivity of the accounting profession, says THEMIN SUWARDY A Special Feature Brought to You By Singapore Management University ACCOUNTANTS play a major role in helping organisations manage their businesses and operations. In a recent survey by the Institute of
    1,007 words
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      144 11 SMU Master of Professional Accounting OPENS UP A WORLD OF OPPORTUNITY Accounting is the language of business. Anyone seeking career advancement and professional growth will benefit from the SMU Master of Professional Accounting (MPA). Designed to develop your technical accounting competencies and business skills, the programme provides a technical grounding
      144 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon Galaxy Macau Q2 earnings jump 18% to HK$3.02b
      451 12 Performance above analysts’ estimates; mainland tourists boosting business Bloomberg [HONG KONG] Galaxy Entertainment Group, the Macau casino operator founded by billionaire Lui Che Woo, reported quarterly earnings above analyst estimates as Chinese tourists boosted spending in the world’s biggest gambling hub. Adjusted
      Bloomberg; PHOTO: REUTERS  -  451 words
    • Article
      Lock icon China to create agency for financial supervision
      265 12 Reuters [BEIJING] China is set to create an agency led by the central bank to coordinate financial supervision, without changing the roles of existing industry watchdogs, the cabinet said yesterday. The State Council said in its approval of the proposal from the People’s
      Reuters  -  265 words
    • Article
      Lock icon Hindalco looks to world sports events to boost aluminium sales
      593 12 WP [MUMBAI] Hindalco Industries, the world’s biggest supplier of aluminium for cans, is counting on next year’s soccer World Cup and the 2016 summer Olympics in Brazil to buoy demand amid sagging sales at home in India. Novelis, a unit
      WP  -  593 words
    • Article
      Lock icon India to delay capital infusion into banks
      390 12 Slumping stock prices force govt to delay plan Bloomberg [MUMBAI] India may delay injecting capital into state-run banks due to slumping stock prices, said Rajiv Takru, the Finance Ministry’s banking secretary. The government, which usually infuses capital into lenders by buying their shares,
      Bloomberg  -  390 words
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      1428 12 (Corporate Office: No. 254-260Avvai Shanmugam Salai Wing 2-C Royapettah, Chennai 600 014, India) BALANCE SHEET AS AT 31STMARCH 2013 (Rs in thousands) As at 31.03.2013 As at 31.03.2012 CAPITAL LIABILITIES Capital 829 77 00 829 77 00 Reserves and Surplus ***** 65 82 9971 66 79 Deposits *****0 15 50
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon Fannie, Freddie to recognise bad loan costs
      632 13 They must set aside loan loss reserves under revised accounting standard Reuters [WASHINGTON] Fannie Mae and Freddie Mac are possibly masking billions of dollars in losses because of the level of delinquent home loans they carry, a federal watchdog said, adding that the
      Reuters; PHOTO: AP  -  632 words
    • Article
      Lock icon NZ central bank to impose controls on mortgage lending
      353 13 AP [WELLINGTON] New Zealand’s central bank yesterday announced it will impose restrictions on mortgage lending, hoping to restrain increases in house prices without derailing economic growth. Most borrowers will need to cough up a 20 per cent deposit to qualify for
      AP  -  353 words
    • Article
      Lock icon ECB experts voice concern over another rate cut
      416 13 Reuters [FRANKFURT] If the European Central Bank cuts interest rates again to try to bring down money market rates, it may end up increasing lenders’ dependence on central bank funding, the minutes of a meeting of ECB experts and traders showed. Money
      Reuters  -  416 words
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      152 13 An initiative by Singapore Business Federation to provide a single point of entry for foreign enterprises to access Asia through Singapore. AccessAsia ©Singapore JUMPSTART YOUR BUSINESS VENTURE IN ASIA THROUGH SINGAPORE. HERE'S WHY: Easiest place to do business in the world 70% of trade focused within ASIA Global connectivity REDUCE
      152 words
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  • WORLD
    • Article
      Lock icon Fed: Significant shortcomings in banks’ stress test responses
      644 14 / 15 Not enough attention paid to risks particular to their assets, operations NYT [NEW YORK] Most large banks appear to have been sailing through the annual “health checkups” they have had to undergo since the financial crisis. But on Monday, the Federal Reserve
      NYT  -  644 words
    • Article
      Lock icon ‘Limit UP, Limit Down’ mechanism triggers several halts
      252 14 / 15 Reuters [NEW YORK] The roll-out of a new programme to limit wild price swings in publicly traded securities triggered dozens of trading halts on Monday as highly illiquid names were phased into the programme. By the session’s end, 48 exchange-traded products (ETPs)
      Reuters  -  252 words
    • Article, Illustration
      Lock icon GEM OF A DIAMOND
      166 14 / 15 THIS is The Premier Blue, the rare, blue diamond which will go under the hammer at Sotheby’s in Hong Kong in October, with auctioneers hoping the sale will fetch up to US$19 million despite fears over the slowing Chinese economy. It weighs 7.59 carats and is
      AFP  -  166 words
    • Article
      Lock icon JPMorgan faces Justice Dept probe on energy trades: report
      204 14 / 15 Reuters [NEW YORK] JPMorgan Chase Co is being investigated by the US Department of Justice for possible manipulation of energy markets following the company’s settlement of civil allegations last month with a separate federal energy agency, the Wall Street Journal (WSJ)
      Reuters  -  204 words
    • Article, Illustration
      Lock icon Hasten Wall St reforms: Obama to regulators
      476 14 / 15 Agencies struggling to coordinate and consider feedback Reuters [WASHINGTON] President Barack Obama called top US financial regulators to the White House on Monday, instructing them to speed up Wall Street reforms in the face of intense bank lobbying. Roughly five years after the
      Reuters; PHOTO: AP  -  476 words
    • Article
      Lock icon Financial firms to register online ahead of US anti-tax evasion law
      403 14 / 15 Reu ters [WASHINGTON] The US Internal Revenue Service launched an online registration programme for the hundreds of thousands of financial firms around the world that must comply with a US an-ti-tax evasion law or risk being shut out of
      Reuters  -  403 words
    • Article
      Lock icon Glencore Xstrata posts H1 loss of US$8.9b
      435 14 / 15 It takes hit from US$7.7b writedown of assets from Xstrata takeover Bloomberg LONDON] Glencore Xstrata plc’s first-half profit slid 39 per cent and the world’s biggest exporter of power station coal wrote down the value of assets acquired in the Xstrata plc takeover
      Bloomberg  -  435 words
    • Article, Illustration
      Lock icon Greece will need third aid deal, German minister admits
      441 14 / 15 Reuters [AHRENSBURG, Germany] Germany’s finance minister admitted for the first time yesterday that Greece would need a third aid package, as a source in Athens said that the sums involved in any new deal would be far smaller than previous rescues.
      Reuters; PHOTO: REUTERS  -  441 words
    • Article
      Lock icon Fukushima springs another leak of radioactive water
      293 14 / 15 Bloomberg [TOKYO] Tokyo Electric Power Co reported another breach of the defences it has built at the Fukushima nuclear plant in its more than two-year struggle to stop leaks of radioactive water into the soil and sea. Just weeks after the utility backtracked
      Bloomberg  -  293 words
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      221 14 / 15 STPROPERTY.se The Best of Malaysia’s Properties Are In Town Discover Malaysia’s Finest Properties under one roof 25 August 2013,9:30 am to 4 pm Stamford Foyer, Level 4, Raffles City Convention Centre, 80 Bras Basah Road, Singapore *****0 Wh V You Sh legal fees ERVE® Suites KL South Z rebaleiorTi 71S&
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      445 14 / 15 EXECUTIVE MASTER CLASS Green Real Estate 3–6 September 2013, 7.30 pm to 10.00 pm National University of Singapore Kent Ridge Campus Professor Matthew Kahn, UCLA Low Tuck Kwong Distinguished Visiting Professor Matthew Kahn is a professor at the UCLA Institute of the Environment, Department of Economics and Department of Public
      445 words
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  • EDITORIAL & OPINION
    • Article
      Lock icon Affordable blue chips: buyer beware
      547 16 EDITORIAL IN the grip of the global financial crisis, on March 9, 2009, UOB shares closed at $8.20 apiece. Still, with a minimum lot size of 1,000 shares, a retail investor would have to fork out $8,200 to buy the minimum block of UOB shares
      547 words
    • Article, Illustration
      Lock icon Learning from the fate of once-dominant tech firms
      832 16  -  THE BOTTOM LINE JOE NOCERA NYT IN the late 1970s and early 1980s, the dominant computing device used in corporate America was a word processor made by Wang Laboratories. The company’s founder and chief executive was An Wang, a brilliant Chinese immigrant
      NYT  -  832 words
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      Lock icon Solving the world’s water supply problem
      1012 16  -  Other than innovative management, conservation, non-traditional sources must be developed By BRAHMA CHELLANEY The writer, Professor of Strategic Studies at the New Delhi-based Centre for Policy Research, is the author of ‘Asian Juggernaut’, ‘Water: Asia’s New Battleground’, and ‘Water, Peace, and War: Confronting the
      Project Syndicate; PHOTO: REUTERS  -  1,012 words
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      Lock icon Will China prevail?
      1015 17  -  The current pessimism about China is as over-the-top as the previous hype on it becoming Number One By FRIEDRICH WU The writer is adjunct associate professor, S Rajaratnam School of International Studies, Nanyang Technological University, Singapore and former director of economics, Ministry of Trade Industry, Singapore ONSIDER
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      Lock icon China needs another Zhu Rongji
      943 17  -  WILLIAM PESEK The writer is a Bloomberg View columnist Bloomberg OF all the reporting trips I made in my Washington days, flying with Lawrence Summers to Beijing so he could kiss Zhu Rongji’s ring ranks among the most fascinating. Anyone who has spent inside of
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  • Transport HUB
    • Article, Illustration
      Lock icon Perils of navigating Arctic waters
      1072 18  -  IMO chief gains firsthand insight into the polar issues STRAIT TALK By DAVID HUGHES LONG time ago, at the the height of the Cold War, I did a couple of summer time trips on a small general cargo ship from the UK into the White
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    • Article
      Lock icon Ross sees cargo rebound on China building limits
      671 18 Better supply-demand balance expected by late 2014/early 2015 Bloomberg [LONDON] Wilbur Ross, the billionaire investor in struggling industries, says Chinese limits on shipbuilding will help the cargo market overcome the excess of carriers that led to the worst slump on record. The
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    • Article
      Lock icon TRANSPORT STOCKS
      244 18 SGX '000 Aug 20 S$ +/-Vol CH Offshore '000 Chuan Hup Hldg 0.25 -0.01 182 Cosco Corp 0.69 -0.02 2393 Ezra Hldgs 0.84 -0.03 3012 First Ship Lea Chuan Hup Hldg Freight Links 0.13 -0.01 ***** Grand Banks.............unch unch 0 Jaya Hold Ltd 0.62 -0.01 746 K1Ventures................0.19 unch
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    • TRANSPORT HUB: AVIATION
      • Article, Illustration
        Lock icon ANA-owned AirAsia Japan to be rebranded as Vanilla Air
        486 19 It will begin flights in late Dec and will serve travellers to resort destinations AFP [TOKYO] Budget carrier AirAsia Japan is being rebranded as Vanilla Air, the airline announced yesterday, with its president saying that vanilla is “loved by everyone in
        AFP; PHOTO: AFP  -  486 words
      • Article
        Lock icon Brazil’s Azul scraps IPO, cites adverse conditions
        318 19 Reuters [RIO DE JANEIRO] Azul Linhas Aéreas Brasileiras SA, Brazil’s third-biggest airline, on Monday said it gave up plans for an initial public offering (IPO) due to adverse market conditions. The company said in a statement, however, that it still intends to launch
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      • Article
        Lock icon Boeing sole bid within S Korea aircraft budget
        434 19 Reuters [SEOUL] Boeing’s bid in the 8.3 trillion won (S$9.5 billion) tender to supply South Korea with 60 fighter aircraft was the only one below the price ceiling set by the country’s arms procurement agency, sources close to the process said on
        Reuters  -  434 words
      • Article
        Lock icon No further delays to completion of KLIA2
        356 19 Deputy transport minister also says no more cost hikes [SEPANG] There would be no further delays to the completion of KLIA2 nor would there be anymore cost increases from the estimated budget of RM4 bil- lion (S$1.55 billion), said Deputy Transport Minister Abdul
        356 words
      • Article
        Lock icon US states in dogfight to be drone test sites
        637 19 WP [WASHINGTON] The Federal Aviation Administration (FAA) is poised to select six locations to test drone technology, and state leaders across the country are lobbying for the chance to open their skies to new unmanned vehicles and maybe become the Silicon
        WP  -  637 words
    • TRANSPORT HUB: LAND
      • Article, Illustration
        Lock icon GM counts on Buick and Opel to reduce costs
        951 20 Working jointly can help firm stem EU losses, boost China sales, among others Bloomberg [DETROIT] Mustafa Yildirim from the Bavarian city of Fuerth overcame his concerns about bulky, gasguzzling sport-utility vehicles (SUVs) after he came upon the Opel Mokka. “It was
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      • Article
        Lock icon Hyundai union to strike for 4 hours this week
        282 20 It is seeking higher wages, improved benefits for workers AP [SEOUL] Hyundai’s labour union said 46,000 workers will stage a four-hour strike over two days this week as the union increases pressure on the automaker for higher wages and benefits. Union
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      • Article
        Lock icon US Labor Day travel seen rising to most in 5 years
        359 20 Bloomberg [SAN FRANCISCO] The number of Americans travelling for the Labor Day holiday weekend will climb to the most in five years as consumer confidence boosts spending, AAA forecast. People taking trips of 80 kilometres or more from home
        Bloomberg  -  359 words
  • Page 18 Advertisements
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      22 18 Into its 10thedition Participate In Singapore’s MEGA WORLD FOOD FAIR SINGAPORE EXPO HALL 4 5th 8th Sept 2013 *****620 or Email: sales@exhibitsinc.com.sg
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      Lock icon Page 18 Advertisements Column 2
      27 18 m sL r LIGHTNING STRIKES CATCH THE ALL NEW NISSAN HOT FM91.3 THUNDER TRUCK TUNE IN TO HOT FM91.3 FOR MORE INFO WWW.HOTFM.SG FflCEBODK.COM/HOTFMSG I 3* HOTFMSG
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      151 18 Economical one-way export plastic pallets available too Conveyor friendly e m Have you ever had issues shipping your product out of the country? It might be time for you to consider our press-wood export pallet, jj Press-wood pallet has proven to be a natural alternative, offering many benefits to traditional
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  • Page 19 Miscellaneous
    • Miscellaneous
      Lock icon Page 19 Miscellaneous Column 1
      341 19 CRYPTIC CROSSWORD Across 1 Time right to wear this knitted garment (1-5) 5 Violent reaction disheartened slanted character (8) 9 I dust a loft to be converted in restrictive accommodation (6,4) 10 Defective work taking place in railway (4) 11 Crack Northern priest in US city for retirement (3-5) 12
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      672 20 A special feature brought to you by B 1 STJOBS.sg WHY IT'S IMPORTANT TO DEVELOP YOUR EMPLOYEES BY: CHERYL MAH The latest findings of the Employment Situation for the second quarter of 2013 released by the Ministry of Manpower (MOM) on 31 July highlighted the tight labour market in which
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  • Article
    Lock icon SHIPPING TIMES
    2341 21 Papua New Guinea Australia New Zealand New Caledonia Fiji all other Pacific Islands Dili (East Timor) Guam (Mariana Islands) Honolulu (Hawaii) SOUTH PACIFIC SERVICE W W W. N G P L J S P. C O M THE CHINA NAVIGATION CO. PTE. LTD. 300 BEACH ROAD #02-02 THE
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  • Page 21 Advertisements
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      70 21 Legal services required by shippers owners Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? Shippers looking for Warehouse Can they find
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      17 21 USE THIS SPACE TO SELL CALL JOE WONG AT *****327 TO ADVERTISE The Business Times Shipping Times
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  • Page 22 Advertisements
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      149 22 mporters ooking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT *****327 II USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times Shipping Times FREIGHT FORWARDER urgently needed by shippers Can they find your
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      3055 23 Transaction date: Aug 20 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Day Last Quote Div Gr Yld 15 12 8Telecom M Cap High Low Company Sale 91.5 58 Abterra
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      Lock icon SGX CATALIST
      269 24 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale ('000) High Low Buyer Seller C'vr P/E Smil -0.5
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      Lock icon UNIT TRUST & FUNDS
      11125 24 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** Aberdeen Asset Mgt Asia Limited APS Alpha Fund (USD)!** Asian Local Ccy SD Bond Aberdeen Asset Mgt Asia Limited EM Local Ccy Bond Asian Local '£cy SD Bond 0.997/ EM Local Ccy Bond 0.921/ European
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      Lock icon GLOBALQUOTE
      262 24 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 53 25 AVJennings A50 +2 83 53 50 50 51.5 3.6 7 4.1 185.1 52 31 Genting HK US$ US42.5 -1.5 ***** 43.5 42 42 42.5 2798.4
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    • Article
      Lock icon SGX ETF
      931 24 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 126 107.1 ABF SG Bond ETF 114 -1.5 4 114 114 113.1 114 520.4 143 120.4 CIMB APAC Div 100S$D 133.5 129.9 130.8 114.4 99 CIMB
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      615 25 Aug 20 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.96 *****.09 *****.18 Sep13 *****.00 *****.00 *****.00 *****.00 ***** *****6 Dec13 *****.00 *****.00 *****.00 *****.00 87 ***** MSCI TAIWAN INDEX FUTURES SPOT 277.52 278.56 275.58 Aug13 276.40 278.10 274.00 274.00 ***** *****9 Sep13 275.30
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 25 In local curr In S$ In US$ dy yr dy yr dy yr Aug 19 Index Change Change Change Change Change Change World Preliminary 1076.8 -0.2 14.8 0.3 17.5 -0.2 12.5 EAFE Preliminary 886.8 -0.3 14.5 0.2 14.6 -0.3 9.7 Europe Preliminary 1268.6 -0.6 10.6
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    • Article
      Lock icon INTERBANK CROSS RATES
      471 25 Aug 20 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.936 5.540 0.678 7.014 57.528 96.957 0.878 10.137 2.977 1.135 93.249 39.534 1.156 9.208 0.833 27.134 28.621 0.578 0.904 Canada 1.068 5.916
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    • Article
      Lock icon SIBOR
      49 25 Aug 20 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 1 mth 2 mths 0.***** 9 mths 12 mths 9 mths Source: Thomson Reuters
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    • Article
      Lock icon GOVERNMENT SECURITIES
      92 25 Aug 20 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 19-Sep-13 0.25 6-Month BS*****A 21-Feb-14 0.29 1-Year BY*****H 02-May-14 0.29 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-15 100.02 100.10 100.09 5-Year N*****0T 0.5
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    • Article
      Lock icon PRECIOUS METALS
      134 25 Aug 20 GOLD(US$/oz) Aug 19 Aug 20 Hong Kong 1383.00 1365.00 Aug 16 Aug 19 London 1367.59 1366.42 1368.46 1367.28 Source: Thomson Reuters CAST BAR Aug 20 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 126 56 5gm 359 281 10gm 641 562
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    • Article
      Lock icon PALM OIL
      57 25 Aug 20 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 13 2397.0 2380.0 2397.0 2333.0 717 5329 Oct 13 2359.0 2344.0 2363.0 2305.0 9377 ***** Nov 13 2338.0 2329.0 2343.0 2287.0 ***** ***** Dec 13 2329.0 2323.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 25 Aug 20 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1552 1.1560 0.9043 0.9046 Canadian dollar 1.2335 1.2347 0.9662 0.9656 Euro 1.7044 1.7054 1.3343 1.3345 NZ dollar 1.0177 1.0189 0.7967 0.7973 Sterling pound 1.9993 2.0006 1.5651 1.5655
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    • Article
      Lock icon CHICAGO BOT
      109 25 Aug 19 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Sep 13 1322.00 1283.25 1324.75 1295.00 Nov 13 1303.25 1259.25 1305.25 1272.50 Jan 14 1303.75 1261.75 1305.75 1273.00 Mar 14 1279.00 1250.75 1282.00 1260.00 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Sep 13
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    • Article
      Lock icon LIFFE
      95 25 Aug 19 COCOA (£/tonne) Close Prev High Low Sep 13 1651 1643 1653 1623 Dec 13 1658 1650 1660 1630 Mar 14 1638 1631 1641 1612 May 14 1636 1630 1638 1612 COFFEE(US$/tonne) Close Prev High Low Sep 13 1879 1913 1910 1877 Nov 13 1876 1901 1896 1872
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    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1103 25 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 4.1 0.0 5 -44 59 Asia-Pacific Strategic W*****6 0.1 1 123 1268 90.00 9 Ratio Albedo Limited W*****9 Price AlliedTech W*****2 Disc Ascendas Reit MB ECW*****3 3.2 0.2
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    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 25 CRUDE OIL PRODUCTS Aug 19 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 110.55 0.22 WTI (Near Mth) 106.91 -0.67 Dubai (1-Mth F) 106.44 0.66 Tapis blend 118.29 0.76 Minas 110.99 0.76 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 101.50 0.67 Jet Kerosene 125.10 0.41 US$/barrel OpecOil Basket
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    • Article
      Lock icon US$/S$ FORWARD RATES
      22 25 Aug 20 S$ Bid Offer 1-month 1.2774 1.2779 2-months 1.2773 1.2780 3-months 1.2774 1.2780 6-months 1.2774 1.2783 Source: OCBC
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    • Article
      Lock icon LONDON METALS
      66 25 Aug-19 Aug-19 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1865.75 1898.50 3 months 1915.00 1945.00 Copper, Grade A(US$/tonne) Cash 7275.00 7371.75 3 months 7306.00 7400.00 Lead(US$/tonne) Cash 2248.00 2245.25 3 months 2250.00 2249.50 Nickel (US$/tonne) Cash *****.50 *****.50 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 25 As at 9am Aug 20 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.191 1.135 Can dollar 1.257 1.209 Euro 1.743 1.660 Sterling pound 2.035 1.957 NZ dollar 1.055 1.015 US dollar 1.304 1.242 Local dollars to 100 units of foreign
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    • Article
      Lock icon INTERBANK RATES
      157 25 Aug 20 $S Offer Bid 0vernight 0.03 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.06 US$ Offer Bid 7 days 0.22 0.12 1 month 0.28 0.18 2 months 0.40 0.20 3 months 0.45 0.25 6 months 0.50 0.30 9 months 0.60 0.40 12
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  • executive Money
    • Article, Illustration
      Lock icon Challenges for retirement income security
      979 26  -  As S’pore bank deposits generate negative real returns, investors should consider alternatives with potential for capital appreciation By JILL SMITH The writer is the chief investment officer of Manulife Asset Management (Singapore) Pte Ltd AS Singapore is among Asia’s richest economies, one would assume that
      ST FILE PHOTO  -  979 words
    • Article, Illustration
      Lock icon Solving the income annuity conundrum
      949 27  -  Economists take a close look at the issue and find that health shocks can produce a unique double whammy for annuity buyers By MARK MILLER The writer is a Reuters columnist. The opinions expressed are his own [CHICAGO] ECONOMISTS have long argued that there’s a
      PHOTO: BLOOMBERG  -  949 words
  • Page 26 Advertisements
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      51 26 A A moy d STOP\sw*5 Log on to www.STCars.sg now A product of SPH. Singapore’s Trusted Media Group Buy, Sell or Rent your ideal car isn’t hard to find STCars sg STCARS Over 10,000 listings of new, used and rental cars, commercial vehicles as well as motoring accessories. u STCars.SG
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      Lock icon Page 26 Advertisements Column 2
      239 26 ■a Phillip Futures TRADE •PROFIT* WIN! 1 Sep-30 Nov 1. To register, call 6538 0500 or visit www.phillipfutures.com.sg/campaign/tradingchallenge 2. Trade and make the most profits 3. Win prizes totaling more than $25,000 Grand Prize $8888 lasSS, lovfl eVS CUS Second Prize $3888" Third Prize $2888" Monthly cash prizes of up
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      197 27 ydi K LSEJIf Isibe M rsE 3RU SI i -‘V 'r jv A' -;V‘ v v 1 With access to more exchanges, the world is your oyster. Tap into global markets with our new Equity Research Tools. Open up your online trading to a host of new opportunities with access
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      122 28 1 BERITA HAKIM Achiever OF THE year 2Q]3 V#‘. i V: ‘■•WiVn fc. r'-'.-iSf'-' m 4' H a I £5L=£T Ss:. a Mil a I ri Slv m iSSI v f M.- s mm M- sa i 5 tel Hi Si. :s m I _a m m m :3;=-v as
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