The Business Times, 11 September 2013

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Total Pages: 30
1 30 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Wednesday, eptember 11, 2013
    25 words
  • Article, Illustration
    Lock icon Asia not headed for repeat of 1997 crisis: PM Lee
    783 1  -  Regional economies are stronger now, with more safeguards in place By TEH SHI NING tshining@sph.com.sg [SINGAPORE] Asia is not on the verge of financial crisis, despite the recent turmoil in regional equity and currency markets, Prime Minister Lee Hsien Loong
    PHOTO: DESMOND WEE/THE STRAITS TIMES  -  783 words
  • Article, Illustration
    Lock icon China data surprises on the upside
    632 1  -  Output, retail sales, govt investment all strongly up in Aug By in VIRGINIE MANGIN in Beijing CHINA’S August economic data provided further evidence that the economy is back on track with all indicators surprising on the upside. Industrial production grew 10.4 per cent in
    PHOTO: REUTERS  -  632 words
  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 GST INDEX 3,123.89 (+35.69) GST INDEX FUTURES 3,123.00 (+36.00) GSIMSCI 354.09 (+2.28) GSIMSCI FUTURES 354.20 (+2.30) US$ S$ US$ (S$ per US$) 1.270 (US$/S$ per 1.570 1.994 EURO (US$/S$/€ 1.325 1.683 Foreign currency per US$ S$ YEN 100.10 78.80 RM 3.279 2.581 HK$ 7.755 6.105 BAHT 32.17 25.32 RUPIAH
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    • Article
      Lock icon MARKETS
      48 1 Tuesday Change KL COMP 1,764.95 +17.92 NIKKEI 225 14,423.36 +218.13 HANG SENG 22,976.65 +226.00 SET INDEX 1,393.17 +8.86 JAKARTA COMP 4,358.14 +166.89 MANILA COMP 6,089.72 +92.68 SEOUL COMP 1,994.06 +19.39 SHENZHEN B 840.49 +4.96 MUMBAI IND 19,997.10 +727.04 12noon EDT Change DOW 15,149.47 +86.35 NASDAQ 3,722.41 +16.23
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    • Article
      Lock icon PRIME RATES
      21 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.420 KOREA 5.036 BRITAIN 1.475 KOREA 9.33 BRITAIN 0.50 Source: Bloomberg
      21 words
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      124 1 PROPERTY Slowdown in shophouse deals PAGE 10 COMMENTARY Bridging the infrastructure deficit PAGE 19 STRAIT TALK Knowing what’s in the box EXEC MONEY Wealth of Asia’s ultra rich up 5.4% PAGE 30 PAGE 20 TWO ORIGINALS ONE RACE DRIVEN BY THEIR PASSION FOR EXCELLENCE, SC GLOBAL AND PORSCHE ARE PROUD
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  • TOP STORIES
    • Article
      Lock icon Singapore among top cities to live, visit, do business
      504 2  -  By JACQUELYN CHEOK jaccheok@sph.com.sg SINGAPORE is one of the world’s top cities for living, visiting and doing business, according to Ipsos’ Top Cities Survey the largestever global survey and the first of its kind by the market-research company on Global @dvisor.
      504 words
    • Article
      Lock icon Olympics sparks Japan equity rally
      585 2  -  By KENNETH LIM kenlim@sph.com.sg [SINGAPORE] Surging construction and airline stocks lit up Tokyo for the second straight session yesterday, and some observers said the Olympic flame could burn for another month. “It’s largely driven by the International Olympic Committee’s selection (on) Sunday of Tokyo as
      585 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      485 2 Asia not headed for repeat of 1997 crisis: PM Lee ASIA is not on the verge of financial crisis, despite the recent turmoil in regional equity and currency markets, Prime Minister Lee Hsien Loong said last night. FRONT PAGE China data surprises on the upside CHINA’S August economic
      485 words
    • Article
      Lock icon S’pore among few with strong hiring prospects
      597 2  -  By CHUANG PECK MING peckming@sph.com.sg [SINGAPORE] Global job prospects are unlikely to improve in the next three months, except for a few countries that include Singapore, according to the latest Manpower employment outlook survey. “Singaporean employers report strong hiring prospects for the Octo-ber-December
      597 words
    • Article
      Lock icon Mt Sophia plot draws strong bids from 9 bidders
      638 2  -  Terrain and design restrictions point to higher construction costs for project By FELDA CHAY By feldac@sph.com.sg [SINGAPORE] A consortium comprising Hoi Hup Realty, Sunway Developments and SC Wong Holdings has narrowly emerged as the top bidder of a plum, 99-year leasehold
      638 words
    • Article, Illustration
      Lock icon 1976 German Olympic gold medallist elected IOC president
      429 2 AFP [BUENOS AIRES] Thomas Bach was elected president of the International Olympic Committee (IOC) in Buenos Aires yesterday. The 59-year-old German the first Olympic gold medallist to become president won in the second round of voting by his fellow IOC members to
      AFP  -  429 words
    • Article
      Lock icon IE Singapore mission ‘even more critical now’
      830 4  -  Chairman calls for strong base of global Singapore firms to drive next phase of economic growth By TEH SHI NING tshining@sph.com.sg [SINGAPORE] Singapore’s next phase of growth depends on the creation of a strong base of local companies with global standing, International Enterprise
      830 words
    • Article
      Lock icon Hanafi: I don’t care how CHC spends money
      895 4  -  CITY HARVEST CHURCH CASE BY. MICHELLE QUAH michquah@sph.com.sg [SINGAPORE] Indonesian businessman and City Harvest Church (CHC) member Wahju Hanafi said yesterday that he doesn’t know, and doesn’t want to know, how the church spends his or other people’s donations, to avoid being
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      144 3 k V i m st n ft: S VM4101 M S MM 4111 m m Dflf 0 rt«»* 3 r\t' U <Sf0^ Porsche recommends Mobil D For more information, please visit www.porsche.com.sg Born a racer. The new Panamera. To reserve your test drive or find out more, please visit the
      144 words
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      383 4 86 aesthetics asia 2013 EXHIBITION CONGRESS First 100 daily visitors who attend the exhibition will receive a special voucher worth over $50 from Lawry's The Prime Rib hmsys IhE-C Singapore SOUTH EAST ASIA'S LARGEST EXHIBITION CONGRESS FOR MEDICAL AESTHETIC DISCIPLINES. OVER 200 INTERNATIONAL BRANDS ACROSS 12 COUNTRIES 11 i Dates:
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      223 4 Peter Cetera LIVE IN SINGAPORE GRAMMY AWARD WINNING SINGER/ SONGWRITER THE LEAD VOICE BEHIND CHICAGO AND SMASH HITS If You Leave Me Now 4 You’re The Inspiration 4 Glory Of Love 4 Hard To Say I’m Sorry 4 After All 8 PM SAT 14 SEPT 2013 THE STAR PERFORMING ARTS
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  • COMPANY NEWS
    • Article
      Lock icon BlackRock rules out sharp rise in interest rates
      803 5  -  They are expected to rise slowly over the next one to two years By in CAI HAOXIANG in Hong Kong haoxiang@sph.com.sg EVEN as the market watches for the US Federal Reserve to start slowing its quantitative easing programme next week, asset manager
      803 words
    • Article
      Lock icon Proposal to delist Sound Global from SGX with exit offer of 70 cents a share
      307 5  -  By VIVIEN SHIAO vshiao@sph.com.sg SOUND Global Ltd’s controlling shareholders through a special purpose vehicle Sound (HK) Ltd is seeking the delisting of the company from the Singapore Exchange (SGX) with an exit offer of 70
      307 words
    • Article
      Lock icon CapitaMalls Asia still positive on Japan
      615 5  -  By MINDY TAN tanmindy@sph.com.sg WHILE mindful of Japan’s deep pockets, CapitaMalls Asia (CMA) is not looking to spin off its assets in that country at the moment. CMA chief executive Lim Beng Chee said: “We will explore all options at all times, but at
      615 words
    • Article
      Lock icon DBS, OCBC, UOB still Asia’s safest banks
      431 7  -  Hang Seng Bank is in 4th position, China Devt Bank in 5th By JASMINE NG jasng@sph.com.sg SINGAPORE’S local banks have been named Asia’s top three safest banks for the third year running, even after Moody’s lowered its outlook for the banks to “negative”
      431 words
    • Article
      Lock icon PICTET
      273 7 Pictet-Absl Rtn Glo Cons-P EUR 05/09/2013 EUR 100,52 Pictet-Absl Rtn Glo Div-P EUR 05/09/2013 EUR 112,10 Pictet-Asian Equities Ex Japan-P USD 06/09/2013 USD 170,61 Pictet-Asian Local Currency Debt-P USD 06/09/2013 USD 140,86 Pictet-Biotech-P USD 06/09/2013 USD 510,25 Pictet-Clean Energy-P USD 05/09/2013 USD 73,49 Pictet-Digital Communication-P USD 05/09/2013 USD 181,07
      273 words
    • Article, Illustration
      Lock icon OFS to move to site in Pasir Ris
      500 7  -  Woh Hup appointed to build new $261 m campus; it will be ready by April 2015 By LEE U-WEN leeuwen@sph.com.sg THE Overseas Family School (OFS), one of the largest international schools in Singapore, is moving to a new $261 million campus in
      500 words
    • Article, Illustration
      Lock icon Nan Fung to open doors for Forterra
      560 8  -  HK developer can provide investment opportunities in large scale projects By ANDREA SOH sandrea@sph.com.sg THE completed acquisition of a 29.98 per cent stake in Forterra Trust by Nan Fung International Holdings one of the largest private-ly-owned property developers in Hong Kong is expected
      560 words
    • Article
      Lock icon Ho Bee challenges condo repair estimates
      511 8  -  It criticises defect claims by home owners as frivolous By GRACE LEONG gleong@sph.com.sg THE developer of The Coast at Sentosa Cove has criticised construction defect claims brought by more than 100 home owners of the oceanfront luxury development as “frivolous”, and their estimates of
      511 words
    • COMPANY BRIEFS
      • Article
        Lock icon United Envirotech signs China contract
        85 8 MAINBOARD-LISTED water and wastewater treatment company United Envirotech yesterday announced that it has signed a $59 million contract to acquire, upgrade and expand a wastewater treatment plant in China. The 30-year transfer-operate-transfer cum build-operate-transfer agreement with the municipal government of Hong Wei district in China’s
        85 words
      • Article
        Lock icon United SM raises Guthrie GTS holdings
        89 8 UNITED SM Holdings, which on Monday extended to Oct 9 the closing date of its voluntary unconditional cash offer for shares in Guthrie GTS, has raised its aggregate holdings to 89.62 per cent. This comes after an open market purchase of 344,000 shares at
        89 words
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      118 5 PARKROYAL ON BEACH ROAD, SINGAPORE f THE BALLROOMS WEDDINGS MEETINGS EVENTS /V Unveiling The Ballrooms Singapore's new event experience It all comes together at The Ballrooms at PARKROYAL on Beach Road. Choose from two dazzling, pillarless ballrooms, with convenient access via a dedicated entrance through our open-air courtyard. With customisable
      118 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Receding Syria fears help boost STI
      598 6  -  Expectations of strong Wall Street session, momentum from Monday’s rise, strong China exports also push up index STOCKS R SIVANITHY sivan@sph.com.sg Senior Correspondent THE Straits Times Index yesterday rose 35.69 points or 1.2 per cent to 3,123.89 in anticipation of a strong Tuesday session
      Source: Bloomberg  -  598 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 10 4 1 0 0 0 10 4 1 Manufacturing 76 32 39 16 6 9 92 38 48 Commerce 22 17 23 10 4 1 32 21 24 Tpt/Stor/Comms 23 11 8
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 56,688 56,688 68,541 68,541 Manufacturing 991,721 382,127 1,373,848 211,487 23,883 235,370 Commerce 340,485 599,380 939,865 94,646 52,316 146,963 Tpt/Stor/Comms 99,193 23,665 122,858 135,428 10,266 145,695 Finance 315,417 400 315,817 231,758 166 231,923 Construction 648,821 154,151
      123 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      115 6 Stock name Close Change CapMallsAsia 1.930 +0.050 CapitaLand 3.040 +0.020 CapitaMall 1.870 +0.015 CityDev 10.16 +0.110 ComfortDelGro 1.870 +0.005 DBS Grp 16.50 -0.070 GLP 2.770 -0.020 Genting SP 1.395 +0.025 Golden Agri 0.560 HK Land 6.390 +0.020 HPH Trust US$ 0.745 +0.010 JMH 57.00 +3.010 JSH
      115 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      73 6 Sep 10 VALUE CLOSE BT OB/OS 379.00 +462.00 BT CADI -*****.00 +146.00 BT 10-day MA -*****.00 +38.00 FTSE ST Mid Cap 747.26 +3.90 FTSE ST Small Cap 547.03 +3.62 FTSE ST All Share 765.70 +7.67 FTSE ST China Top 196.54 +2.21 FTSE ST China 224.73 +2.40 FTSE
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    • Article
      Lock icon MOST ACTIVE STOCKS
      52 6 VOLUME IPCO Intl 628,328,000 Albedo 470,004,000 Innopac 294,101,000 VibroPower 232,332,000 Unionmet 221,023,000 A-Sonic 209,994,000 YHM 141,388,000 Metal Comp 119,395,000 LifeBrandz 111,941,000 Cedar 89,169,000 VALUE($) DBS Grp 90,181,464 Genting SP 73,578,585 SingTel 73,036,554 Innopac 46,134,974 Rowsley 45,726,870 UOB 44,562,600 Keppel Corp 39,338,500 OCBC Bk 38,223,720 A-Sonic 36,020,917 CapitaLand
      52 words
    • Article, Illustration
      Lock icon BROKERS’ TAKE
      924 6  -  Compiled by KENNETH LIM CSE Global Sept 10 close: S$0.885 DBS GROUP RESEARCH, Sept 10 MANAGEMENT aims to reduce CSE’s over-reliance on a single country, single sector and a single programme via divestment of UK healthcare business (~20 per cent of group profit). However, standalone healthcare business may
      Source: Bloomberg  -  924 words
    • Article, Illustration
      Lock icon Yen falls to 3-month low versus euro on Syria, BOJ
      595 6 CURRENCIES Bloomberg [SYDNEY] The yen weakened to a three-month low against the euro amid speculation that a Russian bid to get Syria to surrender its chemical weapons will avert a US attack, damping demand for haven assets. Japan’s currency declined
      Bloomberg; PHOTO: REUTERS  -  595 words
    • Article
      Lock icon RISES
      113 6 BY CENTS CLOSE UP DBXT MSKorea 10US$ 6056 472.5 6.5 DBXT Nifty 10US$ 9323 406.5 3.6 JMH 5700 382.3 5.6 JSH 3550 280.7 6.6 Jardine C&C 3600 254.0 7.6 DBXT MSAsExJp 10US$ 3269 213.4 5.4 DBXT MSTHAI 10US$ 1976 100.4 4.2 DBXT MSINDO 10us$ 1249 99.1 6.7 Lyxor MS
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    • Article
      Lock icon FALLS
      124 6 BY CENTS CLOSE DOWN Hyflux 6% CPS 10 ***** -300.0 -2.7 GLD 10US$ ***** -144.8 -0.9 DBXT S&P Short 10US$ 2896 -24.1 -0.7 PS Grp 30 -11.0 -26.8 ISR 44 -10.0 -18.5 STXPO 100 301 -9.0 -2.9 UOB 2036 -9.0 -0.4 Straits Trdg 374 -8.0 -2.1 DBS Grp 1650
      124 words
    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 6 DAILY
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      11 7 CATS Recruit The first step on your ladder to success CLA/AUG06/g
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      84 7 Knowing your legal rights makes all the difference in your investment Buying property can be a stressful and complicated process. STProperty understands that and tries to keep it as simple straightforward as possible. For more information on legal matters, visit www.stproperty.sg/Legal Awarded Best In Mobile Media (Gold) for Asian Digital
      84 words
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      150 8 CONSENSUS ESTIMATES for Malaysia stocks is now available! Subscribe to Consensus Estimates at a discount now. You will be informed of the consensus recommendations and target prices for your counters of interest before executing any trades. ShareInvestor WebPro (with Malaysia Data) Consensus Estimates (Malaysia) ShareInvestor Station (with Malaysia Data) Consensus
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      1446 9 ADVERTORIAL Helping students be global-ready SIM Global Education’s “Project 1095” wants them to make the most of university life and become all-rounded leaders WHILE Singapore has played host to the annual Singapore Open Asian Windsurfing Championship for some 32 years now, there was something quite unique about the most recent
      1,446 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Shophouse deals slow but prices remain steady
      1054 10  -  Number of caveats lodged eases from 34 in May to 22 in June and 11 in July By KALPANA RASHIWALA kalpana@sph.com.sg WHILE the volume of shophouse transactions has slowed since the Total Debt Servicing Ratio (TDSR) framework was introduced in late June, prices
      1,054 words
    • Article, Illustration
      Lock icon Courts looking beyond literal reading of law
      567 10  -  CJ: They are also considering context, purpose of statutes B)’ GRACE LEONG gleong@sph.com.sg LITERAL interpretations of court documents aren’t always sufficient and, increasingly, the courts are looking at the context and purpose for which a given statute was drafted to resolve disputes, Chief
      567 words
    • Article
      Lock icon PM Lee’s Vietnam visit to boost bilateral ties
      347 10  -  He arrives in Vietnam today for a 3-day trip at the invitation of PM Dung By KELLY TAY in Hanoi kellytay@sph.com.sg PRIME Minister Lee Hsien Loong and his Vietnamese counterpart will take bilateral relations between Singapore and Vietnam one step further, when
      347 words
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      48 10 a j a w sSS i H I v*A yy TAKASHIMAYA SHOPPING CENTRE +65 6723 8081 RAFFLES CITY SHOPPING CENTRE +65 6723 8069 THE SHOPPES AT MARINA BAY SANDS +65 6222 1611 LUXURY FASHION AT RESORTS WORLD™ SENTOSA CHANGI AIRPORT Ti +65 6723 8067 +65 6723 8003 iruMi
      48 words
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon Bangla lender opens for business in KL
      438 11  -  City Bank eyes the RM3.3b a year that Bangladesh migrant workers send home By S JAYASANKARAN in Kuala Lumpur THE first Bangladeshi bank unit specialising in the remittance business has opened its doors here, tapping a captive market of more than one million
      438 words
    • Article, Illustration
      Lock icon Indonesia badly in need of upgrades for airports
      589 11 Bloomberg [JAKARTA] Jakarta’s Soekarno-Hatta airport, South-east Asia’s busiest, couldn’t offer Lion Group the space it needed to build a new aeroplane maintenance facility. Instead, the company ended up picking a site near Singapore. With its Lion Air unit poised to overtake Singapore
      Bloomberg; PHOTO: BLOOMBERG  -  589 words
    • Article
      Lock icon Indonesia seeks more bilateral swap agreements
      347 11 Bloomberg [JAKARTA] Indonesia said that it is seeking bilateral swap agreements with two more central banks to protect its sliding currency. The country may sign accords this quarter that will allow it access to more than US$30 billion from new and existing swap lines,
      Bloomberg  -  347 words
    • Article
      Lock icon Petronas exiting Venezuela project after disputes
      390 11 Reuters [HOUSTON] Malaysian oil company Petronas says it is exiting one of the biggest petroleum projects in Venezuela’s Orinoco belt, after what sources close to the venture and within the firm said were disagreements with Venezuelan authorities and state-run PDVSA. The flagship project, called
      Reuters  -  390 words
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      1870 11 TEE INTERNATIONAL LIMITED (Incorporated in the Republic of Singapore on 15 August 2000) (Company Registration No: *****7107D) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Thirteenth Annual General Meeting of TEE International Limited (“the Company”) will be held at York Hotel Singapore, 21 Mount Elizabeth, Singapore *****6
      1,870 words
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  • GREATER CHINA
    • Article
      Lock icon HSBC, StanChart keen on presence in Shanghai FTZ
      575 12 Project seen having broader implications for structure of economy Bloomberg [SHANGHAI] HSBC and Standard Chartered (StanChart), the two British banks that make most of their profits in the Asia-Pacific region, have signalled interest in a proposed free trade zone for Shanghai. StanChart
      Bloomberg  -  575 words
    • Article, Illustration
      Lock icon Retail rents at HK outskirts set to rise 10%
      414 12 Mainland day trippers account for major spending shift: Savills Bloomberg [HONG KONG] Jane Hu, a financial adviser from the Southern Chinese city of Huizhou, travels to the outskirts of Hong Kong to shop with her friends at least once a month.
      Bloomberg; PHOTO: BLOOMBERG  -  414 words
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      184 12 SPECTACULAR! IMPRESSIVE. VERSATILE PERFORMANCES!” daily telegraph, uk DF THE SHREW 2 nd 13 th OCTOBER FORT GATE. FORT CANNING PARK Performed initially at the Globe Theatre in London and then on tour on an intimate Elizabethan-style stage with an all-female cast, a troupe of travelling players breathe new life into
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      24 12 LIGHTNING STRIKES CATCH THE ALL NEW NISSAN HOT FM91.3 THUNDER TRUCK TUNE IN TO HOT FM91.3 FOR MORE INFO WWW.HOTFM.SG I FACEBOOK.COM/HOTFMSG 3* HOTFMSG
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  • WORLD
    • Article
      Lock icon US derivatives watchdog reins in speed traders
      395 13 It cites series of recent glitches as evidence that rules need updating Reu ters [WASHINGTON] The US derivatives regulator has put computerised trading in its sights in a long-awaited study that could be the first step to rein in a sector often blamed
      Reuters  -  395 words
    • Article, Illustration
      Lock icon Push for Mulally, Lawrie as Microsoft CEO
      747 13 Software giant shortening list of some 40 candidates Reuters [NEW YORK] At least three of the top 20 investors in Microsoft Corp want a turnaround expert to succeed Steve Ballmer as chief executive and have urged the technology giant’s board to consider Ford
      Reuters; PHOTO: REUTERS  -  747 words
    • Article, Illustration
      Lock icon Summers the price for nod on Syria attack?
      855 14 Liberal Democrats may back Syria plan in return for Obama picking Janet Yellen Reuters [WASHINGTON] The uphill battle to convince the US Congress to authorise a military strike against Syria could make it harder for President Barack Obama to nominate his former
      Reuters; PHOTO: REUTERS  -  855 words
    • Article, Illustration
      Lock icon JPMorgan board ups supervision of Jamie Dimon
      602 14 But investors slam the moves as not going far enough Reuters [NEW YORK] JPMorgan Chase Co’s board, under fire for the bank’s trading losses and myriad government probes, said that it was adding two directors and handing more power to its lead independent
      Reuters  -  602 words
    • Article, Illustration
      Lock icon Abe moving towards April sales tax hike
      693 15 Govt to craft measures to cushion economy against impact of higher tax Reuters [TOKYO] Japanese Prime Minister Shinzo Abe ordered his government yesterday to craft measures to bolster the economy to cushion the impact of an increase in the national sales tax. Buoyed
      Reuters; PHOTO: AFP  -  693 words
    • Article
      Lock icon Thailand doubles rubber subsidies
      438 15 Move appeases farmers who earlier threatened protests Bloomberg AFP [BANGKOK] Thailand, the world’s largest rubber producer and exporter, decided to double the subsidy paid to farmers after they threatened to step up protests across the nation’s key plantation areas amid a plunge in prices. The government
      Bloomberg; AFP  -  438 words
    • Article
      Lock icon Transaction tax plan is illegal, say EU lawyers
      566 15 Reuters [LONDON] A plan to tax financial transactions in 11 European Union (EU) member states from 2014 is illegal, the bloc’s lawyers have concluded, dealing what could be a final blow to the measure as proposed. The findings are not binding but
      Reuters  -  566 words
    • Article
      Lock icon UK probes tardy payment claims
      285 15 Bloomberg [LONDON] The UK’s markets regulator is investigating allegations that banks are dismissing claims for payment protection insurance compensation. The Financial Conduct Authority (FCA) has at least two separate probes in progress, Martin Wheatley, the chief executive officer of the agency, told lawmakers in London
      Bloomberg  -  285 words
    • Article
      Lock icon New pricing method for Asian LNG likely soon, says IEA
      224 15 Bloomberg [SINGAPORE] Asia’s liquefied natural gas (LNG) market is poised to introduce alternatives to oil-indexed pricing as supply expands from new sources, the International Energy Agency (IEA) says. “When you have a more flexible gas market, with more gas being
      Bloomberg  -  224 words
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      365 13 B 6 gms Two for the win at Atrium Double the pleasure as 2013 FORMULA 1 SINGAPORE GRAND PRIX races right beside you with paired beverages and gourmet delights. Enjoy a pint of Draft Beer at $12 with any order of our house-made sausages or charcuterie platter, from $18. Celebrate
      365 words
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      76 14 PRI !IME MINISTER. STATESMAN. LAWYER. ADVOCATE FOR WORKERS. FOUNDER OF POLITICAL PARTY. AND THROUGH IT ALL, A HUSBAND AND FATHER. See over 100 never-before-published photos of Lee Kuan Yew in private Bilingual in and in the public eye, in this new pictorial book with 480 photographs English and Chinese LEE
      76 words
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      769 15 TOKYO FREEHOLD PROPERTY from 338,000 SGD! up to 35 years rental guarantee! RARE OPPORTUNITY!! DIRECTLY from Developer in JAPAN! Date 14th and 15th September 2013 Time 3pm 8pm (Presentation will be conducted at 4pm 7pm) Venue PARKROYAL on Kitchener, Sapphire 3 (Level 3) (Next to Farrer Park MRT) Organizer Dualtap
      769 words
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      9748 16 Hong Kong Exchanges and Clearing Limited, the SEHK and the SGX-ST take no responsibility for the contents of this Joint Announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any
      9,748 words
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      6401 17 20.2 In the event that the receipt of the Exit Offer Letter and the relevant form(s) of acceptance by Overseas Holders is prohibited by any applicable laws or regulations or may only be effected upon compliance with the conditions or requirements of such overseas jurisdictions that would be unduly burdensome,
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  • EDITORIAL & OPINION
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      Lock icon Reforms needed to sustain rupee recovery
      498 18 EDITORIAL THE slide of the Indian rupee appears to have halted for now, which has won accolades for India’s new central bank governor Raghuram Rajan. But sustaining rupee stability will require longer-term solutions. After falling to a 20-year low of 68.85 against the US
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      Lock icon Action, or lack of it, speaks louder than speeches
      781 18  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 WEEKS after his election as China’s new leader last November, Xi Jinping, the new general secretary of the Communist Party and head
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      Lock icon Adopting P-4 approach to global development
      959 18  -  Private-philanthropic-public partnerships are more inclusive and reflect the new realities By VISWANATHAN SHANKAR The writer is group executive director and CEO for Europe, the Middle East, Africa, and the Americas at Standard Chartered Bank Project Syndicate THE Millennium Development Goals (MDGs) established a successful
      Project Syndicate; PHOTO: REUTERS  -  959 words
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      Lock icon Bridging the infrastructure deficit
      1642 19  -  The gap between what is needed and what is available is large and steadily expanding B/)L ASIT K BISWAS CECILIA TORTAJADA SINGAPORE will be hosting the World Engineering Summit, beginning today until Friday. This will be a very timely summit since the global infrastructure deficit, that
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      Lock icon Let’s bring science into food trade discussions
      681 19  -  By SER-LOW WAI MING The writer is organising chairman, 13th Asean Food Conference 2013 THIS week, some of the most influential food scientists and technical experts in Asia are meeting in Singapore to discuss the latest trends and technology in food science. While
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  • Transport HUB
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      Lock icon Knowing what’s in the box
      693 20  -  Implement new rules fast to deter misdeclaration of container details STRAIT TALK By DAVID HUGHES MANY years ago, in the days of general cargo ships, I learnt the importance of knowing how heavy a container is. As a very young third officer, I was responsible
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      Lock icon Chinese flotilla in waters off disputed islands
      373 20 Ambassador to Japan summoned, displeasure shown AFP [TOKYO] Eight Chinese ships were in waters around islands at the centre of a bitter dispute with Japan yesterday, as Tokyo said that it had not ruled out stationing officials there. The moves came the day
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    • Article
      Lock icon TRANSPORT STOCKS
      230 20 SGX '000 Sep 10 S$ +/-Vol Chuan Hup Hldg 0.27 unch 160 Cosco Corp 0.74 -0.01 1038 s$ Ezra Hldgs 0.89 0.03 3768 First Ship Lea Freight Links Grand Banks.............unch unch 0 Jaya Hold Ltd 0.65 -0.01 843 K1Ventures 0.20 -0.01 3961 Keppel Corp 10.45 0.05 3775 Mercator
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    • TRANSPORT HUB: AVIATION
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        Lock icon Not easy for network carriers to operate like easyJet: CEO
        763 21 Bloomberg [LONDON] easyJet plc said it’s ready to take on a lowcost challenge from Europe’s former flag carriers, predicting they’ll struggle to embrace the no-frills approach that’s lured travellers to discount operators. A potential 86 million short-haul passengers flying from
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        Lock icon Tigerair adds four new popular Asian destinations
        299 21  -  From Oct 29, it will fly to Chiang Mai, Langkawi, Lombok and Lijiang By NISHA RAMCHANDANI nishar@sph.com.sg [SINGAPORE] Singa-pore-based budget carrier Tigerair is expanding its network by adding four more destinations as well as boosting frequencies to Surabaya, Indonesia. From Oct 29, Tigerair
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        Lock icon TSA unveils new plan for faster security lanes
        387 21 US travellers will be selected on a case-by-case basis Bloomberg [WASHINGTON] US travellers will be chosen on a case-by-case basis to use ex-pedited-screening lines at airports without having to provide more personal information than they now give airlines, the Transportation Security Administration
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    • TRANSPORT HUB: LAND
      • Article
        Lock icon Jaguar to roll out mass-market luxury models
        407 22 US$2.4b investment to create 1,700 jobs; new cars to compete with BMW, Merc Reuters [LONDON] British luxury carmaker Jaguar has unveiled a US$2.4 billion investment in a new range of lightweight aluminium sports and cross-over cars aimed at the mass market, a plan
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      • Article
        Lock icon Crashes point to dated EU rail network
        840 22 NYT [PARIS] In the wake of a fiery train crash this summer in northern Spain that killed 79 people, investigators, survivors and passengers are demanding to know why the rail line entrusted the train’s safety with a sole driver who had publicly boasted
        NYT  -  840 words
      • Article
        Lock icon HK launches electric bus to fight pollution
        400 22 AFP [HONG KONG] Hong Kong’s first battery-powered public bus took to the streets as part of a drive against the city’s choking pollution. Chief executive Leung Chun-ying has pledged to make pollution one of his top priorities during his five-year term, with an
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      120 20 MEN’S HEALTH ;1 SPECIAL SINGAPORE'S NO. I MEN'S MAGAZINE 4-WEEK GYM-FREE PLAN MAXIMUM! MUSCLE am you msmm? JAKE THE CHALLENGE IS YOUR JOB KILLING YOU? Eat Well, Live Longer HAVEYOURSTEAK ANDEATITTOO! SINGAPORE m J P112 ANNIVERSARY TH BEASEXBRAINIAC SMARTTRICK5T0 IMPRESS HER IT’S OUR BIRTHDAY... BUT THE PRESENTS ARE YOURS! In
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      567 20 Doing Business, The New Normal ARE U IN? A market upheaval is in progress and it is already challenging the way we traditionally do business. This breed of entrepreneurs called ‘technopreneurs’ are fast changing the business landscape, from crowd-funding to how they ‘disrupt’ the market and expeditiously grow their companies.
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      17 20 Call 1800 289 8822 or e-mail I, notices@sph.com.sg to publicise your IPOs other offerings I NOTICES 3,
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      61 21 www.omy.sg Skills Expertise Endorse your connections What skills or expertise do your connections have? Endorse Does Nur Qamarina Ramil know about Digital Marketing? Does Tzen Long Goh know about Copywriting? t*u Endorse Does Ivy Tan know about Web Design? Does Cynthia Chua know about Event Management? HOW DOES YOUR EXPERTISE
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      36 21 lift —in YOUR ENTWTO THE^DQR;UFE HO'OV BLE OH kj$&> BOATING A SUBSIDIARY OF SPH MAGAZINES PTE LTD Blu Inc Media (HK) Ltd. Tel: *****65 2800 Fax: 852 2868 1799 www.bluincmedia.com Enquiry: queries@bluincmedia.com Subscribe at sub@bluincmedia.com www.asia-pacificboating.com
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      53 21 THE BIG MOVE: Our Fengshui practitioner tells why the correct date is important /T P A Awarded Best In Mobile Media (Gold) for Asian Digital Media Awards 2012 A product of SPH. Singapore's trusted media group f STProperty.SG STPropertySG Available on the AppStore At STProperty.sg. your ideal property isn’t hard
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  • Page 21 Miscellaneous
    • Miscellaneous
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      301 21 CRYPTIC CROSSWORD Across 1 Way of life after getting into the habit? (11) 10 Tenor with power covering Queen. Idiot (5) 11 halfwit revealed by design or amusement (9) 12 Every other bird in a former embrace (9) 13 Greek character, goddess embodying first of Titans (5) 14 Broad giving
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      108 22 m m m BOLLYWOOD SUPERHERO GLAMS UPM THE FESTIVE SEASON A Singapore INTERNATIONAL DEEPAVALI SHOPPING FESTIVAL 2013 m mm v 3f: Byt* flSusS. Meet D), 5 i y s rcrzrstsfJ} iMi HRITHIK ROSHAN at the international promotion of KRRISH 3 ORGANISED BY Tamil Murasu 'fS de ideaz OFFICIAL SECURITY 18-22
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      17 22 Family business succession inChina faces challenges different fromS'pore, HK&Taiwan To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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      43 23 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? Shippers looking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES Shipping Times
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      17 23 USE THIS SPACE TO SELL CALL JOE WONG AT *****327 TO ADVERTISE The Business Times Shipping Times
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    Lock icon SHIPPING TIMES
    2413 23 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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      1904 24 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 12 to The Business Times, Thursday, July 18, 2013G Calling
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  • SINGAPORE STOCKS
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      Lock icon SGX MAINBOARD
      3256 25 Transaction date: Sep 10 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 Company Last Sale Vol Day Last Quote ('000) High Low Buyer Seller 188 106 AIMSAMPIReit C'vr Net P/E M Cap
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      Lock icon SGX CATALIST
      232 26 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol 2.4 1.3 t Advanced System 1.5 unch 3163 1.6 1.4 1.5 1.6 23.8 Last Quote Div Gr Yld Net M Cap High
      232 words
    • Article
      Lock icon UNIT TRUST & FUNDS
      11118 26 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** Aberdeen Asset Mgt Asia Limited APS Alpha Fund (USD)!** Asian Local Ccy SD Bond Aberdeen Asset Mgt Asia Limited EM Local Ccy Bond Asian Smaller tos!' 1 8688/ EM local Ccy Bond .0 9008/ European
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      Lock icon GLOBALQUOTE
      262 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 58 27 AVJennings A55 +2.5 78 57 55 54 56 3.6 6.4 4.5 203.6 52 31 Genting HK US$ US39.5 +0.5 3855 40 39 39 39.5 2600.9
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      Lock icon SGX ETF
      935 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 126 107.1 ABF SG Bond ETF 111 -2 8 113 111 111 115 506.7 143 124.3 CIMB APAC Div 100S$D 132.7cd 134.4 135.3 114.4 99.2 CIMB
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  • FINANCE & COMMODITIES
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      Lock icon SGX DERIVATIVES TRADING
      600 27 Sep 10 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.72 *****.81 *****.78 Sep13 *****.00 *****.00 *****.00 *****.00 *****4 *****6 Dec13 *****.00 *****.00 *****.00 *****.00 ***** ***** MSCI TAIWAN INDEX FUTURES SPOT 290.65 291.73 288.76 Sep13 289.70 291.80 288.80 290.90 ***** *****2 Oct13 289.10
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 27 In local curr In S$ In US$ dy yr dy yr dy yr Sep 9 Index Change Change Change Change Change Change World Preliminary 1084.5 0.6 15.6 0.5 17.6 0.7 13.0 EAFE Preliminary 890.9 0.5 15.0 0.6 14.0 0.8 9.6 Europe Preliminary 1268.5 -0.1 10.6
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    • Article
      Lock icon INTERBANK CROSS RATES
      471 27 Sep 10 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.959 5.661 0.698 7.172 59.439 106.410 0.925 10.029 3.032 1.153 96.916 40.543 1.175 9.269 0.864 27.510 29.749 0.589 0.925 Canada 1.042 5.901
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    • Article
      Lock icon SIBOR
      55 27 Sep 10 (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$) 1 mth 1 mth 2 mths 2 mths 0.***** 3 mths 9 mths 6 mths 12 mths
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      Lock icon GOVERNMENT SECURITIES
      90 27 Sep 10 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 19-Sep-13 0.24 6-Month BS*****E 07-Mar-14 0.28 1-Year BY*****H 02-May-14 0.28 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-15 99.98 5-Year N*****0T 0.5 01-Apr-18 97.2
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    • Article
      Lock icon PRECIOUS METALS
      137 27 Sep 10 GOLD(US$/oz) Sep 10 Sep 09 Hong Kong 1384.00 1395.00 Sep 09 Sep 06 London 1388.00 1386.78 1388.75 1387.57 Source: Thomson Reuters CAST BAR Sep 10 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 127 56 5gm 360 282 10gm 644 564
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    • Article
      Lock icon PALM OIL
      57 27 Sep 10 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 13 2369.0 2353.0 2369.0 2340.0 61 1286 Oct 13 2380.0 2354.0 2381.0 2349.0 881 ***** Nov 13 2380.0 2351.0 2383.0 2346.0 ***** ***** Dec 13 2385.0 2351.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      156 27 Sep 10 Sep Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1746 1.1752 0.9247 0.9251 Canadian dollar 1.2243 1.2250 0.9643 0.9639 Euro 1.6823 1.6828 1.3244 1.3247 NZ dollar 1.0183 1.0190 0.8017 0.8022 Sterling pound 1.9936 1.9941 1.5695
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    • Article
      Lock icon CHICAGO BOT
      109 27 Sep 9 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Sep 13 1404.25 1437.00 1448.75 1402.75 Nov 13 1356.50 1367.75 1384.00 1351.25 Jan 14 1355.75 1365.25 1381.50 1350.75 Mar 14 1338.25 1343.00 1358.00 1331.50 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Sep 13
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    • Article
      Lock icon LIFFE
      95 27 Sep 9 COCOA (£/tonne) Close Prev High Low Sep 13 1700 1714 1708 1695 Dec 13 1685 1700 1695 1678 Mar 14 1665 1680 1674 1657 May 14 1662 1678 1672 1655 COFFEE(US$/tonne) Close Prev High Low Sep 13 1728 1740 1740 1720 Nov 13 1758 1764 1774 1736
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    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1144 27 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 29 -6 1111 0.0 5 -89 58 Asia-Pacific Strategic W*****6 0.7 -0.3 259 1 123 163 67.14 8 Acma Ltd W*****7 Exer Price AlliedTech W*****2 Disc Ascendas Reit
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    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 27 CRUDE OIL PRODUCTS Sep 09 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 113.46 -1.42 WTI (Near Mth) 108.83 -1.65 Dubai (1-Mth F) 108.78 0.08 Tapis blend 123.62 0.92 Minas 115.02 0.92 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 105.83 0.05 Jet Kerosene 127.18 0.64 US$/barrel OpecOil Basket
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    • Article
      Lock icon US$/S$ FORWARD RATES
      22 27 Sep 10 S$ Bid Offer 1-month 1.2702 1.2703 2-months 1.2701 1.2702 3-months 1.2700 1.2702 6-months 1.2697 1.2699 Source: OCBC
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    • Article
      Lock icon LONDON METALS
      66 27 Sep-09 Sep-09 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1758.00 1777.00 3 months 1806.00 1824.00 Copper, Grade A(US$/tonne) Cash 7164.00 7131.25 3 months 7196.00 7160.00 Lead(US$/tonne) Cash 2132.75 2135.25 3 months 2149.00 2151.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 27 As at 9am Sep 10 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.201 1.144 Can dollar 1.246 1.199 Euro 1.722 1.640 Sterling pound 2.030 1.952 NZ dollar 1.043 1.003 US dollar 1.295 1.234 Local dollars to 100 units of foreign
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    • Article
      Lock icon INTERBANK RATES
      158 27 Sep 10 $S Offer Bid 0vernight 0.03 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.01 US$ 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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      181 28 The Search For Your IDEAL EMPLOYEE Ends Here With access to STJobs' growing database of close to 650,000 candidates, automated email alerts to suitable candidates and 30 days of online exposu for your company, it's much easier to seek out your ideal employee. D F L U rc i f
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      486 29 L i' L' \A S* s they 5* ihit ri SP Wi kk T 4 k, e%.«fit«««»» rporatfe alder V\\ SPDR ETFs issued the world's first ETF in 1993 and has been leading the industry with game-changing innovations ever since. 20 years ago, we invented a product that empowered investors
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  • executive Money
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      Lock icon Wealth of Asia’s ultra rich up 5.4%
      559 30  -  In Singapore, their assets are 3.2% higher While their numbers rise 3.8% to 1,355 individuals, reports GENEVIEVE CUA ASIA’S ultra high net worth (UHNW) population increased this year to 44,505 individuals from 42,895 last year with their combined wealth rising by 5.4 per
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      Lock icon China export data propels emerging market ETF
      709 30 Bloomberg [LONDON] The iShares MSCI Emerging Markets Index exchange-traded fund has capped the longest advance in more than six years after data showed that Chinese exports grew more than estimated. Brazil’s Ibovespa, meanwhile, entered a bull market. The developing-nation ETF added 2.7 per
      Bloomberg  -  709 words
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      Lock icon Reducing portfolio risk with preferred shares
      882 28 They are less volatile than common stocks and are more liquid than many bonds NYT [NEW YORK] AS hybrid securities, preferred stocks fill a useful niche between stocks and bonds, paying high dividends. Yet they are often ignored when investors are building an income
      NYT; PHOTO: AFP  -  882 words
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      Lock icon Do-good investors turn more practical
      1344 29 Moving away from firms at the vanguard of the green movement, they are focusing on those that make a profit while taking into account sound environmental, social and governance practices NYT [NEW YORK] SARAH Kupferberg’s youthful rebellion was slightly unconventional she wanted to invest in
      NYT; PHOTO: REUTERS  -  1,344 words
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      83 30 V Tomorrow needs care Our continuous commitment in Asia In addition to providing global investment solutions, our Asia platform has developed local expertise and renminbi capabilities. Our commitment has always been rooted in transparency and long-term vision. Relying on these common sense values, we help you to protect, grow and
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