The Business Times, 24 March 2014

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Total Pages: 28
1 28 The Business Times
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  • Title Section
    Lock icon Masthead
    26 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Monday, March 24, 2014G G
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  • Article
    Lock icon Tepid growth for banks in face of regulations
    964 1  -  S’pore lenders are also kept on their toes over the lucrative trade financing business B)’ JAMIE LEE |eejamie@sph.com.sg [SINGAPORE] Banks in Singapore, like their competitors around the world, are facing growth challenges against the backdrop of Basel III, which has raised acquisition
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  • MARKETS DIGEST
    • Article
      Lock icon MARKETS
      57 1 Weekly Change ST INDEX 3,073.39 -0.33 KL COMP 1,820.48 +15.36 NIKKEI 225 14,224.23 -103.43 HANG SENG 21,436.70 -102.79 SET INDEX 1,360.50 -11.68 JAKARTA COMP 4,700.21 -178.43 MANILA COMP 6,339.26 -51.98 SEOUL COMP 1,934.94 +15.04 SHENZHEN B 823.77 -10.36 MUMBAI IND 21,755.32 -54.48 DOW 16,302.77 +237.10 NASDAQ 4,276.79 +31.39 S&P
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    • Article
      Lock icon PRIME RATES
      22 1 SINGAPORE 5.35 MALAYSIA 5.55 HONG KONG 5.00 INDONESIA 15.174 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 us Source: Bloomberg
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    • Article
      Lock icon FOREX
      50 1 US$ S$ US$ (S$ per US$) 1.275 (US$/S$ per 1.648 2.102 EURO (US$/S$/€ 1.377 1.757 Foreign currency per US$ S$ YEN 102.10 80.00 RM 3.310 2.595 HK$ 7.764 6.087 BAHT BAHT 32.41 25.41 RUPIAH 11,445 8,973 RENMINBI 6.228 4.883 INDIAN RUPEE 61.16 47.95 A$ 1.103 0.864 NZ$ 1.170 0.917
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  • Article, Illustration
    Lock icon French satellite images too point to debris
    637 1 Australian PM finds ‘increasing hope’ of a breakthrough MISSING MAS FLIGHT Reuters [KUALA LUMPUR] New French satellite images show possible debris from a missing Malaysian airliner deep in the southern Indian Ocean, Malaysia said yesterday, adding to growing signs that the plane may
    Reuters; PHOTO: REUTERS  -  637 words
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      151 1 BOARDROOM MATTERS To be or not to be an independent director? PAGE 4 DINING OUT Spanish chef in his Element PAGE 21 YOUNG INVESTORS’ FORUM Exploring Singapore’s shopping mall sector page 9 TOPLINE BW Group: making a big splash PAGE 4 BT WEBSITES For breaking news, go to businesstimes.com.sg. For
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  • TOP STORIES
    • Article
      Lock icon Profits earned by Temasek ‘are returned to community’
      508 2  -  Company takes a long-term view, says its chairman on its 40th anniversary By SIOW LI SEN lisen@sph.com.sg [SINGAPORE] Temasek Holdings builds for the long term and the money it makes is returned to the community, said chairman Lim Boon Heng. “There is
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    • Article
      Lock icon THREE-MINUTE DIGEST
      341 2 Tepid growth for banks in face of regulations BANKS in Singapore and elsewhere are facing challenges against the backdrop of Basel III, which has made it expensive to own overseas units. FRONT PAGE French satellite images too point to debris NEW French satellite images show possible debris from
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    • Article, Illustration
      Lock icon Shadow of Russia hangs over Nuclear Security Summit
      416 2  -  BY/ LEE U-WEN in The Hague |eeuwen@sph.com.sg MORE than 50 world leaders are now in the Netherlands for a two-day summit on combating nuclear terrorism, but the escalating crisis in Ukraine is fast threatening to overshadow the high-level event. The US and
      PHOTO: STEPHANIE YEOW/THE STRAITS TIMES  -  416 words
    • Article
      Lock icon Market rally to continue despite volatile sessions
      618 2  -  Profit outlook will outweigh Crimean worries: analysts WALL STREET INSIGHT By ROB CURRAN THE tentative rally last week, despite a relatively hawkish tone from the Federal Reserve and Russian President Vladimir Putin, may continue this week. While these big-picture worries will cause volatility,
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    • Article, Illustration
      Lock icon S’pore banks: tougher rules boon for confidence
      612 3  -  But they are aware of challenges in less tough jurisdictions By JAMIE LEE leejamie@sph.com.sg [SINGAPORE] Singapore banks support tougher regulatory requirements here, although there is awareness that other jurisdictions may not play the same way. Notably, banks incorporated here must hold a minimum
      ST FILE PHOTO  -  612 words
    • Article
      Lock icon MAS may review sales of yuan investments
      353 3  -  BY JAMIE LEE |eejamie@sph.com.sg [SINGAPORE] Retail deposits make up a small portion of all yuan-denominated deposits here, said the Monetary Authority of Singapore (MAS), while pointing out that it may review financial institutions’ sales practices for investment products. MAS has not received any
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    • Article
      Lock icon Basel III won’t shift S’pore banks’ focus on SMEs
      572 3  -  Some fear costs linked to higher risk under new rule may be passed to SMEs By JAMIE LEE leejamie@sph.com.sg [SINGAPORE] Banks in Singapore are maintaining their support for small and medium enterprises (SMEs), despite the higher funding requirements for the higher
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      99 2 I B 11 I I I H H |i i 'y/ IB SI 1 HIS JOHANN STRAUSS ORCHESTRA APR L 6™ 20 SINGAPORE INDOOR STADIUM at Singapore sports hub &0 9 3fm A/AEDIACORP Station New releases now in stores: SJ8S«® B .-I X.\M l 1 ANDRE andre rieu k Friends
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      200 3 Now in its 7 th year, the Emerging Enterprise Award 2014 invites promising startups and aspiring SMEs to embark on the journey to excellence and join the league of past winners. Be empowered and evolve to the next level. Come create ripples of change with us. EMERGING ENTERPRISE AWARD Up
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon Making a big splash in maritime
      1298 4  -  Having weathered turbulence, BW Group boasts owning and operating a modern fleet of 110 offshore oil gas vessels, TOPLINE reportsLISA LISA LEE lisalcc@sph.com.sg IF the word nimble could be used to describe any shipping group, it would probably be most apt for one of
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    • Article, Illustration
      Lock icon To be or not to be – an independent director?
      837 4  - To be or not to be an independent director? An independent directorship can provide experiences not normally obtainable in executive life, says MIKE GRAY MIKE GRAY The writer is a member of the Publications Committee of the Singapore Institute of Directors MANY people do not usually consider taking on the
      PHOTO: STOCKXCHNG  -  837 words
    • Article
      Lock icon Albedo RTO deal still ‘valid and binding’
      350 7  -  Denying report, it says neither party can unilaterally terminate agreement BY ANDREA SOH sandrea@sph.com.sg STEEL materials supplier Albedo has added confusion to a planned reverse takeover in a Singapore Exchange filing late on Friday. Confirming in part an earlier report by The Star
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    • Article
      Lock icon SIA, Hoe Leong lead week’s buybacks
      1688 7  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Ltd THE bulk of last week’s significant trades were purchases with buybacks in Hoe Leong Corporation and Singapore Airlines and insider buys in Ho Bee Land, Best World International, Fragrance Group, Tat
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      123 5 Is your business ready to launch a new business? Cloud-based innovations are creating a trillion dollars in market opportunities, but organisations that don’t embrace them will miss out. Smarter enterprises are using the cloud to explore entirely new business models. With freedom from typical constraints, some businesses on the IBM
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Tapering fears out, rate-hike worries in
      688 6  -  STOCKS R SIVANITHY sivan@sph.com.sg Senior Correspondent IT’S pretty clear that “tapering” is now no longer the bogeyman that it once was. This is because the US Federal Reserve under Janet Yellen has given the market what it wants no surprises on the tapering front
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    • Article, Illustration
      Lock icon Swaps: a magnet for any investor eyeing liquidity
      567 6  -  COMMODITIES MOHD TAUFIK JAINAL The writer is a business development manager at Phillip Futures THE financial industry is accustomed to swap derivatives like interest rate and currency swaps, which are the de facto hedging instruments for banks and MNCs. The first interest
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    • Article
      Lock icon Worst weekly loss in 9 months for Asia units
      465 6 CURRENCIES Bloomberg [SINGAPORE] Asian currencies last week had their steepest weekly loss in nine months after the Federal Reserve increased its 2015 interest-rate forecast and China doubled the yuan’s trading band. The Fed, while indicating that the target rate will stay
      Bloomberg  -  465 words
    • Article
      Lock icon RISES
      113 6 BY CENTS CLOSE UP DBXT AUDCS 5SG$ ***** 334.0 1.4 SPDR DJIA 10US$ ***** 308.7 1.5 SPDRS S&P 500 10US$ ***** 294.6 1.2 Lyxor Indonesia10US$ 8596 193.9 1.8 DBXT E50 10US$ 5226 188.8 2.9 DBXT AUDCS 5US$ ***** 164.5 0.7 DBXT Nifty 10US$ ***** 139.0 1.0 DBXT MSEurope 10US$
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    • Article
      Lock icon FALLS
      126 6 BY CENTS CLOSE DOWN JMH 5552 -445.1 -5.9 GLD 10US$ ***** -391.5 -2.3 DBXT iBoxxSvEu 5US$ ***** -297.2 -0.8 DBXT USDIGInfl 5US$ ***** -292.1 -0.9 DBXT iBoxxUSTr 5US$ ***** -193.9 -0.7 DBXT EONIA 5US$ ***** -162.0 -0.7 Lyxor ThaiSET 10US$ ***** -147.9 -1.0 DBXT MSINDO 10us$ 1366 -95.7 -5.2
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    • Article
      Lock icon BROKERS’ RECOMMENDATIONS
      1598 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price AIMS AMP Capital Ind REIT 2.00 2.00 3 10.12 12.95 1.66 1.31 Amtek Engineering Ltd 2.50 2.50 2 0.05 11.01 0.57 0.69 ARA Asset Mgt Ltd 2.29
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 6 WEEKLY
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    • Article, Illustration
      Lock icon STRAITS TIMES INDEX
      4 6 WEEKLY
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 6 Mar 21 VALUE CLOSE BT OB/OS -256.00 +70.00 BT CADI -*****.00 +86.00 BT 10-day MA -*****.00 -26.00 FTSE ST Mid Cap 712.93 +2.58 FTSE ST Small Cap 535.43 +1.45 FTSE ST All Share 748.83 +3.59 FTSE ST China Top 196.44 +1.12 FTSE ST China 221.22 +1.10 FTSE
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    • Article
      Lock icon MOST ACTIVE STOCKS
      54 6 VOLUME Albedo 766,442,000 HanKore 698,893,000 Digiland 621,552,000 Equation 386,875,000 KLW Hldgs 241,159,000 Charisma Energy 230,720,000 Ocean Sky 211,788,000 Golden Agri 158,481,000 Memstar 149,241,000 WE Hldgs 144,580,000 VALUE($) DBS Grp 417,479,521 SingTel 295,684,010 UOB 261,101,035 GLP 234,497,340 Olam 184,968,840 Keppel Corp 164,452,133 OCBC Bk 162,518,413 Wilmar 142,964,436 EzionHldg
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      103 6 Ask the Commodities Experts Brought to you by Phillip Futures Re Ltd (A member of PhillipCapital) W At Phillip Futures www.phillipfutures.com.sg 6538 0500 futures@phillip.com.sg Co. Reg. No: *****5695G 250 North Bridge Road #07-01 Raffles City Tower Singapore *****1 Email: futures@phillip.com.sg The above information does not constitute an investment advice, an
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      299 7 BUSINESS BANKING DOB Business The only business app you will need. An app for small businesses providing one-stop notification and access to customised FX price alerts, latest news and more for your business needs*. 1/2 Real-Time FX Updates and Price Alerts NEWS I News Alerts 0 Business Coupons Travel Bookings
      299 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Singapore firms making inroads into Myanmar
      745 8  -  They are making good progress in the building and construction sector By LOOI JO-ANNE WHEN Singapore firm AKDA Architects first ventured into Myanmar more than two years ago, many were sceptical. Back then, Myanmar’s first civilian government had barely taken office in a historical
      745 words
    • Article
      Lock icon DIVIDENDS ANNOUNCED
      1963 8 Payment Ex Rec Pay Ann (cts) date date date date AEI Corp an 0.500 05-May 07-May 15-May 27-Feb AIM ak 0.160 06-May 08-May 20-May 26-Feb AIMS Prop Sec ag 0.090 27-Mar 31-Mar 20-Jun 21-Mar AIMSAMPI Reit (1 Oct-31 Dec 2013) ag 2.770 06-Feb 10-Feb 27-Mar 29-Jan AlliedTech ak
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    • Article, Illustration
      Lock icon Taking Heart
      320 8  -  By KELLY TAY kellytay@sph.com.sg Art and philanthropy ASHLEY Ann Tan, 8, (right) posing with her painting, “Beautiful Flow”, which incorporates LED lights to reflect the vibrant colours of the sea. Her painting, along with 14 other marine-inspired artworks by young Singapore artists, will be auctioned off for charity
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    • Article
      Lock icon PRIME LENDING RATES
      277 8 Mar 21 BANKS Agricultural Bank Of China 5.50 Agricultural Bank Of China Bangkok Bank Public Co. Ltd 6.00 Bank of China Limited ...5.50 Bank of Communications 5.50 ...6.00 Bank of China Limited ...5.50 Bank of Tokyo-Mitsubishi ...5.50 Banque Internationale a ...5.75 BNP Paribas Bank of Taiwan Chang
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    • Article
      Lock icon COMPANY MEETINGS
      616 8 COMPANY MEETING PLACE DATE TIME Sino Construction E RELC International Hotel Tanglin 2 (Level 1) 30 Orange Grove Road 25-Mar 11.00am China Jishan Hldgs E Furama RiverFront S'pore Jupiter I (Level 3) 405 Havelock Road 26-Mar 10.00am Global Premium Htl A 168 Changi Road #05-01 Attic Level Fragrance
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    • Article
      Lock icon DB Platinum
      8 8 Branchen Stars R1C-A 17/03/2014 200,18 EUR
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      97 8 ALMATY Beijing Seoul Hong Kong Bangkok M Ho Chi Minh Kuala Lumpur Beijing Almaty Hh- 5 times a week Bangkok Almaty 7 times a week Seoul Almaty 2 times a week Kuala Lumpur Almaty 3 times a week Ho Chi Minh Almaty 2 times a week *4 Fly to-AfnWy and
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      20 8 Choose from various club memberships or sell yours in CLASS 66 To advertise, call the Print Classified Hotline: 1800-289 9988
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      264 8 Ac i35mT Module SA501 L— Trading Skills of PROFESSIONAL TRADERS 1.00 Most people enter the world of trading with the knowledge acquired from books and websites. However, they do not realize that this knowledge differs greatly from reality. This is because professionals use the same trading tools in a different
      264 words
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • Article, Illustration
      Lock icon A stroll through the shopping mall sector
      1710 9  -  The profitability of retail malls depends on their tenant mix, use of space and population income growth, reports CAI HAOXIANG exposure haoxiang@sph.com.sg DUBLIN has its pubs, London has Trafalgar Square and New York, Times Square. In humid and rainy Singapore, however, the top
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    • Article, Illustration
      Lock icon Ah, to be a suburban mall owner
      972 9  -  Junction 8, Tampines Mall and Northpoint are among the most profitable malls in Singapore MONDAY MULTIPLE CAI HAOXIANG haoxiang@sph.com.sg Correspondent SOMEONE told me once he wanted to come back in his next life as either an insurance company boss or a suburban mall
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      113 9 Get started now Be a young investor DO you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to
      113 words
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  • VIEWS FROM THE TOP
    • Article, Illustration
      Lock icon Good corporate citizenship
      4169 10 THIS WEEK’S TOPIC How can enterprises better match their corporate giving to social needs? Why is doing good ultimately good for business, and what CSR challenges do you face? Terry O’Connor Group CEO Courts Asia CORPORATE social responsibility (CSR) cannot be an afterthought but a key pillar
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      12 11 A complete list of views from CEOs is also available at http://businesstimes.com.sg
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      87 11 Confidence to expand That’s what participants in international commerce can achieve when they’re smart about managing risk. And smart managers work with CME Group, the world’s leading derivatives marketplace. Companies dcing business around the world partner with us to manage virtually every kind of risk. Changing currency valuations, energy costs,
      87 words
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon Analysts laud MISC’s sale of logistics unit
      581 12 RM250m cash deal seen streamlining its business, improving balance sheet [PETALING JAYA] MISC Bhd’s move to hive off its integrated logistics business is not likely to have much material impact but analysts see advantages for the company, The Star says. The shipping group,
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    • Article, Illustration
      Lock icon Malaysia reports February inflation of 3.5%
      318 12 [KUALA LUMPUR] Malaysia’s consumer price index rose 3.5 per cent from a year ago in February, mostly due to the effects of the hike in electricity tariff and fuel prices, Business Times Malaysia reported. The Statistics Department said that the CPI increased from 106.1
      BLOOMBERG FILE PHOTO  -  318 words
    • Article
      Lock icon Bakries pay cash to seal Arms split
      285 12 Move by co-founder aims to end shareholder battles Reu ters [LONDON] Coal miner Asia Resource Minerals (Arms) said that its co-founding Bakrie family had paid the US$278 million cash portion of a long-awaited deal to split from Arms, which it hopes will end
      Reuters  -  285 words
    • Article
      Lock icon BURSA MALAYSIA
      1407 12 VOL Mar 21 RM +/-(‘000) A M Realty 1.10 0.02 4292 VOL Advance Synerg 0.14 unch 369 A M Realty Ae Multi Hldgs 0.21 -0.01 37 Affin Holdings 3.87 -0.05 2018 Ahmad Zaki Res 0.84 0.02 392 Abric Bhd Alliance Finan 4.18 -0.07 2398 Aluminium Co 12 Amalgamated
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    • Article
      Lock icon Petronas embarks on aggressive energy strategies
      501 12 [KUALA LUMPUR] Petroliam Nasional Bhd (Petronas), facing dwindling production at home, is in a race against time to scour for new oilfields beyond Malaysia’s shores. But with depleting hydrocarbons on the homefront, where oil has been extracted for well over a century, and stiff
      501 words
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      85 12 26 29 June 2014 SUNTEC Singapore Halls 401 404 Looking to sell your food products, cooking solutions, kitchen appliances accessories to an expected turnout of 250,000 visitors? fb.com/singaporefoodshows Book Your Space NOW! *Limited Booths Available For more information call *****620 or Email: sales@exhibitsinc.com.sg foodandkitchen.com.sg Organised By: Our Food Shows: (Organiser
      85 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon Documents show NSA hacked Huawei’s servers
      762 13 One aim of the US operation was to find if the firm had any links with PLA NYT [WASHINGTON] US officials have long considered Huawei, the Chinese telecommunications giant, a security threat, blocking it from business deals in the United States for fear that
      NYT; PHOTO: AFP  -  762 words
    • Article
      Lock icon US doctors uneasy over made-in-India drugs
      673 13 Indian drugmakers: products not inferior to other countries’ Reuters [NEW YORK] Some US doctors are becoming concerned about the quality of generic drugs supplied by Indian manufacturers following a flurry of recalls and import bans by the Food and Drug Administration. India supplies about
      Reuters  -  673 words
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      66 13 If CO CO u CO Qu CJ) CD CO CO o ■c H Co At CD 1 > 4 e Do big fish always eat small fish? Will tiny ripples make huge waves? Understanding is key to winning the business game. Mastering the rules demand 360°-perspectives. Make sense of market
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      3237 14 DEL MONTE PACIFIC LIMITED (Incorporated in the British Virgin Islands with limited liability on 27 May 1999) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Del Monte Pacific Limited (the “Company") will be held at Anson Room 3, Level 2 of M Hotel,
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      2810 14 Noble Group Limited (Incorporated in Bermuda with limited liability) Notice of Annual General Meeting NOTICE IS HEREBY GIVEN that the 2014 Annual General Meeting of Noble Group Limited (the “Company”) will be held at Ballroom 1, The Fullerton Hotel Singapore, 1 Fullerton Square, Singapore *****8 on Wednesday, 16 April 2014
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      6509 15 ASPIAL CORPORATION LIMITED (Company Registration No: *****1030G) (Incorporated in the Republic of Singapore) NOTICE OF MEETING of the holders of S$85,000,000 5.20 per cent. Notes due 2015 (the “Series 1 Notes”) and S$65,000,000 4.65 per cent. Notes due 2014 (the “Series 2 Notes”) (together, the “Notes”, and each series of
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      2166 16 (Constituted in the Republic of Singapore pursuant to a trust deed dated 28 November 2005 (as amended)) Notice of Annual General Meeting NOTICE IS HEREBY GIVEN that the Annual General Meeting (“AGM”) of the holders of units of Keppel REIT (the “Unitholders”), will be held at Raffles City Convention Centre,
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      141 16 show2014 i *> x 29 May 1 June 2014 SUNTEC Singapore Halls 401-406 Why Exhibit? Leverage on an unrivalled publicity campaign. Sell your tech products and services to over 800,000 consumers directly. R For more information call *****620 or Email: sales@exhibitsinc.com.sg Organised By: Our IT Shows: IT show| COMIKI C°
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      1502 17 ■J. KATS NOTICES VSS1_ ASL MARINE HOLDINGS LTD. (UEN/Company Registration No. *****8542N) (Incorporated in the Republic of Singapore) Notice to holders (the “Noteholders") of the outstanding S$100,000,000 4.75 per cent. Notes due 2017 comprised in Series 006 (ISIN: SG6Z*****217) (the “Notes”) of ASL Marine Holdings Ltd. (“ASL Marine") convened for
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      2167 17 (Registration No. *****02) (Constituted in the Republic of Singapore as a business trust pursuant to a trust deed dated 23 July 2009 (as amended)) Notice of Annual General Meeting NOTICE IS HEREBY GIVEN that the Annual General Meeting (“AGM”) of the holders of units of K-Green Trust (“KGT”, and the
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  • WORLD
    • Article, Illustration
      Lock icon ABN Amro eyes relisting as a safe, local bank
      983 18 Lender’s modest new profile seems agreeable to risk-averse investors Reuters [AMSTERDAM] As reconstructed Dutch bank ABN Amro prepares to go back to the stock market, the bailed-out lender’s modest new profile appears to be chiming with crisis-hit, risk-averse investors. ABN Amro
      Reuters; PHOTO: REUTERS  -  983 words
    • Article, Illustration
      Lock icon UK budget may hurt infrastructure revamp funding
      574 18 Reu ters [LONDON] Britain’s government may have damaged its own ambitions to revamp the country’s infrastructure using private sector money after new economic policies hobbled a key industry’s incentive to invest. Policies announced on Wednesday in the annual budget scrapping the requirement for
      Reuters; PHOTO: REUTERS  -  574 words
    • Article
      Lock icon London luxury home market likely to fall
      556 18 They are too pricey and need correction, says Lloyds banker Bloomberg [LONDON] Lloyds Banking Group plans to avoid funding the development of projects in London’s luxury home market, where it sees losses ahead for investors, according to the lender’s head of corporate real
      Bloomberg  -  556 words
    • Article
      Lock icon Africa’s rush to borrow sparks debt concern
      709 18 Reuters [JOHANNESBURG] Nearly a decade after Nelson Mandela and anti-poverty activists Bono and Bob Geldof persuaded the rich world to forgive Africa’s crushing debts, many countries’ debt levels are creeping up again, which could undermine the region’s growth boom. As African states line
      Reuters  -  709 words
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      Lock icon US-Japan-S Korea summit aims to cool regional tensions
      610 19  -  Japanese businesses also want Abe to tone down his nationalistic rhetoric By ANTHONY ROWLEY in Tokyo NATIONALISTIC attitudes and actions on the part of Japanese Prime Minister Shinzo Abe’s administration are provoking a backlash in and beyond Japan as businessmen urge Mr
      PHOTO: AFP  -  610 words
    • BRIEFING
      • Article
        Lock icon UN climate report to pressure govts to act
        115 19 Reuters [OSLO] Global warming will disrupt food supplies, slow world economic growth and may already be causing irreversible damage to nature, according to a UN report due this week that will put pressure on governments to act. A 29-page draft by the
        Reuters  -  115 words
      • Article
        Lock icon Growing concerns over massing Russian forces
        137 19 Bloomberg Reuters [BRUSSELS] Western nations expressed growing concern over Russia massing troops on its border with Ukraine, a day after Russian troops seized the last military facilities under Ukrainian control in Crimea, the Black Sea peninsular that Russian President Vladimir Putin formally annexed last
        Bloomberg; Reuters  -  137 words
      • Article
        Lock icon IMF voting reform needs US support
        105 19 Reuters [BEIJING] International Monetary Fund chief Christine Lagarde said yesterday that there was not much she could do to push reform at her organisation and give emerging economies a bigger say without the support of the US. China in January called on IMF member
        Reuters  -  105 words
      • Article
        Lock icon Credit Suisse denies report on job cuts
        100 19 Reuters [ZURICH] Credit Suisse could cut up to 500 jobs at its private bank as part of a cost-saving drive, a Swiss newspaper reported yesterday. The Schweiz am Sonntag said that Hans-Ulrich Meister, co-head of Credit Suisse’s private bank, is working on a
        Reuters  -  100 words
    • Article
      Lock icon Central, eastern Europe banks pressured to sell bad debts
      431 19 Reuters [WARSAW] Central and eastern European countries are turning up the pressure on banks to clean up their balance sheets, creating new opportunities for bad loan investors that are seeing returns dwindle in recovering eurozone economies. Keen to bolster fragile economic
      Reuters  -  431 words
    • Article, Illustration
      Lock icon Social Marketing: Visually Engage Your Prospects with Infographics
      566 19  -  yi »>jW By Pamela Wigglesworth This is nothing new. You’ve heard it before. A picture is worth a thousand words. When you think about it, humans have been communicating with pictures for thousands of years in the form of pictograms on cave
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  • AVIATION/SHIPPING
    • Article, Illustration
      Lock icon Bombardier suspends Russian plans in wake of sanctions
      803 20 At stake is sale of US$3.4b of aircraft, turboprop assembly line in Russia Bloomberg [MONTREAL] Bombardier Inc’s plans to build planes in Russia and the sale of US$3.4 billion of aircraft will be delayed as Canada joins the US in imposing sanctions
      Bloomberg; PHOTO: BLOOMBERG  -  803 words
    • Article
      Lock icon Return of tanker glut leaves investors disillusioned
      592 20 Rate gains have not materialised, despite initial optimism Bloomberg [NEW YORK] Six years after shipowners ordered too many vessels before the global recession, driving down rates and leaving new ships anchored for lack of cargoes, investors are souring again on oil-product tankers in
      Bloomberg  -  592 words
    • Article, Illustration
      Lock icon Seized tanker with oil from rebel port reaches Tripoli
      363 20 Reuters [TRIPOLI] A commercial oil tanker that was seized and returned by US forces after it loaded crude at a Libyan port held by anti-govern-ment rebels has docked back in the capital Tripoli, a Reuters witness said yesterday. US special forces
      Reuters; PHOTO:  -  363 words
    • Article
      Lock icon TRANSPORT STOCKS
      246 20 SGX '000 Mar 21 S$ +/-Vol Ch Offshore 0.40 -0.01 189 Chuan Hup Hldg 0.26 unch 6 Cosco Corp 0.67 -0.01 1042 Cwt Limited 1.39 0.09 3288 Ezra Hldgs 1.06 0.02 1739 First Ship Lea 0.10 unch 397 Grand Banks Jaya Hold Ltd K1Ventures 0.20 unch 378 Keppel
      246 words
    • Article
      Lock icon Lufthansa pilot pay spat highlights Iberia wage triumph
      695 20 Bloomberg [FRANKFURT] Deutsche Lufthansa’s pay skirmish with its pilots, already among the best paid in Europe, stands in contrast to rival IAG’s success in slashing wages and reaping investors’ reward in the process. While IAG chief executive officer Willie Walsh forced through
      Bloomberg  -  695 words
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      24 20 At least four local hotel and service apartment operators have set eyes on Myanmar tourism market To subscribe, call 6388-3838 or go to sphsubscription.com.sg
      24 words
  • Page 20 Miscellaneous
    • Miscellaneous
      Lock icon Page 20 Miscellaneous Column 1
      299 20 CRYPTIC CROSSWORD Across 1 Talent shown by a number in entertainment (5) 4 French beard and pigtail, say, put on for party (8) 8 Winning, making bad move and lose (8) 9 As Roy rides out it’s laughable (8) 11 Sing in French first to delight (7) 13 Get leader
      299 words
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  • DINING OUT
    • Article, Illustration
      Lock icon Spanish chef in his Element
      1010 21  -  Mikel Badiola plates up authentic Basque cuisine with an accent on homespun flavours, writes JAIME EE writesJAIME writesJAIME EE jaime@sph.com.sg NEW RESTAURANT Element on Tras Street Amara Singapore, 165 Tanjong Pagar Road. Tel: 6879-2555 Open for lunch and dinner daily IF anyone were to do
      PHOTO: DERRICK TAN  -  1,010 words
  • Page 21 Advertisements
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      42 21 APP NON ON ANDROID A IPHONE Enjoy a mouth-watering buffet of food news and reviews from The Straits Times, The Business Times and The New Paper on the new SoShlok App! THE STRAITS TIMES m, SoShiorN SG’s Vummiest Food News Reviews www.soshiok.com
      42 words
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  • Page 22 Advertisements
  • Article
    Lock icon SHIPPING TIMES
    2353 22 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
    2,353 words
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  • Page 23 Advertisements
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      126 23 mporters ooking for Warehouse Can they find your services here in the Shipping Times? i TO ADVERTISE, CALL JOE WONG AT *****327 1 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES
      126 words
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      18 23 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times Shipping Times
      18 words
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      3424 24 Week ended: Mar 21 52-wks Last Vol Week Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Week Last Quote 11.5 7 AEM 14 10.4 8Telecom M Cap 10 6.7 AIMS Property 9.5cd +0.5 616 9.5
      3,424 words
    • Article
      Lock icon SGX CATALIST
      344 25 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 35 22 t 3Cnergy 500 Last Vol 2 0.9 t Advanced System 1 +0.1 1660 1 0.9 0.9 1 17.6 Last Quote Div Gr
      344 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      118 25 Stock name Close Change CapMallsAsia 1.705 +0.020 CapitaLand 2.740 +0.020 CapitaMall 1.890 +0.025 CityDev 9.410 +0.270 ComfortDelGro 1.945 +0.030 DBS Grp 15.830 +0.170 GLP 2.620 +0.040 Genting SP 1.315 +0.010 Golden Agri 0.565 -0.010 HK Land 6.130 -0.040 Stock name Close Change HPH Trust US$ 0.635
      118 words
    • Article
      Lock icon STOCKS ASIA
      1930 25 Transaction date: Mar 21 HONG KONG Vol HK$ +/-'000 Aeon Stores '000 Angang Steel 4.75 0.05 5076 Anhui Conch 29.90 0.80 ***** Anhuiexpresswa 3.80 -0.01 2349 Asia Satellite 31.45 -0.75 37 Asm Pacific 69.50 3.10 918 Avic Ihl 0.15 333 Baiyunshan Ph Bank Of China 3.11 0.07 *****8
      1,930 words
    • Article
      Lock icon GLOBALQUOTE
      264 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 61.5 34.4 AVJennings A58 +1 15 58 57 57 59 3.6 6 4.7 214.7 52 35.5 Genting HK US$ US39 -1 ***** 40.5 39 39 39.5 2568
      264 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 25 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 8 0 0 0 0 8 8 0 Manufacturing 65 77 28 15 11 5 80 88 33 Commerce 28 34 15 4 9 1 32 43 16 Tpt/Stor/Comms 19 18 8
      186 words
    • Article
      Lock icon SGX ETF
      1170 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 121 108.3 ABF SG Bond ETF 113.5 -0.5 3 113.5 112 113 114 518.1 143 119 CIMB APAC Div 100S$D 123.6 +0.5 123.7 122.3 122.8 125.2
      1,170 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 25 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 106,347 106,347 313,640 313,640 Manufacturing 1,394,597 758,375 2,152,972 676,264 29,651 705,915 Commerce 1,341,723 1,141,498 2,483,221 600,882 66,371 667,253 Tpt/Stor/Comms 460,821 10,186 471,007 626,226 1,028 627,254 Finance 165,464 561 166,025 908,810 194 909,004 Construction 161,984 321,468
      123 words
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      26 25 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES
      26 words
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      674 26 Mar 21 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.76 *****.76 *****.83 Jun14 *****.00 *****.00 *****.00 *****.00 ***** *****1 Sep14 *****.00 0 2210 MSCI TAIWAN INDEX FUTURES SPOT 303.83 303.83 301.44 Mar14 301.20 303.50 299.70 302.30 ***** *****9 Apr14 301.20 303.00 299.80 302.10
      674 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 26 In local curr In S$ In US$ dy yr dy yr dy yr Mar 21 Index Change Change Change Change Change Change World Preliminary 1182.8 0.3 -0.1 0.1 0.9 0.3 -0.1 EAFE Preliminary 926.5 0.2 -3.1 0.0 -1.6 0.2 -2.5 Europe Preliminary 1349.4 0.2 -0.4
      373 words
    • Article
      Lock icon INTERBANK CROSS RATES
      471 26 Mar 21 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.020 5.649 0.659 7.042 55.468 103.806 0.926 9.798 3.002 1.061 88.909 41.083 1.157 9.905 0.801 27.778 29.391 0.550 0.907 Canada 0.980 5.536
      471 words
    • Article
      Lock icon SIBOR
      34 26 Mar 21 (US$) (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) (S$) 3 mths ..0.***** 3 mths Source: Thomson Reuters
      34 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      84 26 Mar 21 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 6-Month BS*****Z 27-Jun-14 0.3 1-Year BY*****T 31-Oct-14 0.31 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0W 1.13 01-Apr-16 101.41 5-Year NX*****W 2.5 01-Jun-19 104.82 104.95 104.90 10-Year NX*****H
      84 words
    • Article
      Lock icon PRECIOUS METALS
      138 26 Mar 21 GOLD(US$/oz) Mar 21 Mar 20 Hong Kong 1336.00 1334.00 Mar 21 Mar 20 London 1334.95 1330.30 1335.25 1330.60 Source: Thomson Reuters CAST BAR Mar 21 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 82 52 5gm 327 271 10gm 610 545
      138 words
    • Article
      Lock icon PALM OIL
      57 26 Mar 21 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Apr 14 2845.0 2822.0 2849.0 2821.0 373 3915 May 14 2802.0 2764.0 2804.0 2760.0 6523 ***** Jun 14 2767.0 2729.0 2769.0 2726.0 ***** ***** Jul 14 2733.0 2697.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 26 Mar 21 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1565 1.1571 0.9068 0.9072 Canadian dollar 1.1334 1.1341 0.8891 0.8887 Euro 1.7564 1.7567 1.3771 1.3773 NZ dollar 1.0901 1.0907 0.8547 0.8551 Sterling pound 2.1020 2.1025 1.6481 1.6484
      155 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 26 As at 9am Mar 21 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.182 1.126 Can dollar 1.157 1.113 Euro 1.801 1.716 Sterling pound 2.148 2.066 NZ dollar 1.115 1.073 US dollar 1.304 1.242 Local dollars to 100 units of foreign
      121 words
    • Article
      Lock icon INTERBANK RATES
      158 26 Mar 21 $S Offer Bid 0vernight 0.05 0.03 1-month 3/8 1/4 2-months 3/8 1/4 3-months 7/16 5/16 Overnight mode: 0.12 US$ Offer Bid 7 days 0.20 0.10 1 month 0.25 0.15 2 months 0.30 0.20 3 months 0.40 0.20 6 months 0.50 0.30 9 months 0.60 0.40 12
      158 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1174 26 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 41 -4 20 0.0 5 -89 52 Asia-Pacific Strategic W*****6 1 0.5 233 1 123 182 44.00 2 Ratio Exer Ascendas Reit MB eCW*****1 2 0.2 210 1
      1,174 words
    • Article
      Lock icon CHICAGO BOT
      109 26 Mar 21 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low May 14 1408.75 1433.75 1435.75 1405.25 Jul 14 1382.25 1410.00 1409.25 1380.00 Aug 14 1325.50 1353.75 1352.25 1323.50 Sep 14 1231.75 1250.75 1250.50 1229.75 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low May 14
      109 words
    • Article
      Lock icon LIFFE
      94 26 Mar 21 COCOA (£/tonne) Close Prev High Low May 14 1879 1882 1896 1874 Jul 14 1879 1880 1895 1875 Sep 14 1879 1877 1892 1875 Dec 14 1860 1859 1873 1856 COFFEE(US$/tonne) Close Prev High Low Mar 14 2099 2097 2122 2090 May 14 2038 2037 2065 2014
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    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 26 CRUDE OIL PRODUCTS Mar 20 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 105.84 -0.16 WTI (Near Mth) 99.19 -1.07 Dubai (1-Mth F) 102.39 -0.27 Tapis blend 110.66 -0.35 Minas 105.76 -0.35 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 101.06 0.17 Jet Kerosene 118.08 -0.03 US$/barrel OpecOil Basket
      70 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      22 26 Mar 21 S$ Bid Offer 1-month 1.2754 1.2755 2-months 1.2754 1.2755 3-months 1.2753 1.2755 6-months 1.2751 1.2753 Source: OCBC
      22 words
    • Article
      Lock icon LONDON METALS
      66 26 Mar-21 Mar-21 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1681.50 1668.50 3 months 1723.00 1712.00 Copper, Grade A(US$/tonne) Cash 6489.25 6441.00 3 months 6480.00 6430.00 Lead(US$/tonne) Cash 2052.75 2046.25 3 months 2077.00 2069.00 Nickel (US$/tonne) Cash *****.50 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.50 3 months
      66 words
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  • BizIT THE BUSINESS OF INFOCOMM TECHNOLOGY
    • Article, Illustration
      Lock icon Tech Mahindra looks to grow in Asia-Pacific
      828 27  -  Better-than-expected third-quarter financial results give impetus to the Indian IT services company, reports AMIT ROY CHOUDHURY reportsAMIT reportsAMIT ROY CHOUDHURY amit@sph.com.sg INDIAN IT firm Tech Mahindra, which beat market expectations in its recently announced third-quarter (ended Dec 31, 2013) results, is looking towards
      828 words
    • Article
      Lock icon SingTel offers new cloud communications service
      457 27  -  By AMIT ROY CHOUDHURY amit@sph.com.sg LOCAL telco Singapore Telecommunications last week upped its cloud services play by launching a Unified Com-munications-as-a-Service (UCaaS) offering which sits in the cloud. UCaaS is designed for enterprises looking to shift from traditional PABX systems to a consumption-based communications
      457 words
    • Article
      Lock icon 2014: A transformative year for cloud computing
      792 27  -  Many trends will come to the fore <you say> By CHUNG HAO NING The author is cloud computing leader at IBM Singapore THE cloud matured faster last year than in any previous year, with pace-setting organisations using it to accelerate the adoption of
      792 words
    • Article, Illustration
      Lock icon Data mining an increasingly useful tool in HR
      785 27  -  It helps to track growth of staff and ensure they stay happy with firm By VICTORIA HO BIG data is big in human resources (HR), and some large companies are mining deep within employee data to sniff out redundancies and retain the
      785 words
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  • Page 28 Advertisements
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      674 28 It’s SPH’s 30th anniversary! Celebrate with us and you could be one of our 30 lucky winners. All you need to do is to enter our lucky draw now. If you are a direct subscriber of SPH newspapers, you get 5 chances to win! Hurry, contest ends on 18 May
      674 words