The Business Times, 17 July 2014

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Total Pages: 40
1 40 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Thursday, July 17, 2014
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  • Article, Illustration
    Lock icon Magnate allays fears of Iskandar building glut
    1038 1  -  This comes against a backdrop of roll-out of mammoth projects by big Chinese developers By ANITA GABRIEL anitag@sph.com.sg @AnitaGabrielBT [SINGAPORE] The rosy narrative on Malaysia’s hot spot Iskandar development region is wilting on a looming supply glut. No thanks to overzealous building by
    BT Graphics  -  1,038 words
  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 GST INDEX 3,304.43 (+13.01) GST INDEX FUTURES 3,302.00 (+14.00) GSIMSCI 377.40 (+1.44) GSIMSCI FUTURES 376.90 (+1.50) US$ S$ US$ (S$ per US$) 1.243 (US$/S$ per 1.715 2.131 EURO (US$/S$/€ 1.355 1.684 Foreign currency per US$ S$ YEN 101.70 81.80 RM 3.189 2.567 HK$ 7.751 6.238 BAHT 32.12 25.85 RUPIAH
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    • Article
      Lock icon MARKETS
      48 1 Wednesday Change KL COMP 1,886.71 +1.84 NIKKEI 225 15,379.30 -15.86 HANG SENG 23,523.28 +63.32 SET INDEX 1,530.42 +5.89 JAKARTA COMP 5,113.93 +43.11 MANILA COMP Closed SEOUL COMP 2,013.48 +0.76 SHENZHEN B 885.11 -1.30 MUMBAI IND 25,549.72 +321.07 12 noon EDT Change DOW 17,101.27 +40.59 NASDAQ 4,424.48 +8.09
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    • Article
      Lock icon PRIME RATES
      22 1 SINGAPORE 5.35 MALAYSIA 6.55 HONG KONG TAIWAN INDONESIA JAPAN TAIWAN 5.036 JAPAN 1.475 CANADA 9.33 SWITZERLAND 0.50 US Source: Bloomberg
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  • Article
    Lock icon COE quota to fall 6% from August
    575 1  -  By SAMUEL EE samuelee@sph.com.sg [SINGAPORE] The number of certificates of entitlement (COEs) will contract by 6 per cent from next month for the next three months. The quota for August to October will be 11,331, or 729 pieces fewer than in the current
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      123 1 PATRON OF THE ARTS Special feature on this year’s awardees PAGES 18-25 COMMENTARY China’s e-commerce revolution to intensify PAGE 30 PROPERTY Spring Grove up for en bloc sale PAGE 38 FUTURE CHINA FORUM Riding the China wave PAGES 14-17 8"*****1"*****A Manual winding mechanical movement with calibre FM 1700, developed and
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  • TOP STORIES
    • Article
      Lock icon THREE-MINUTE DIGEST
      513 2 Magnate allays fears over Iskandar building glut CONCERNS about a looming housing glut and slipping asset values in Malaysia’s Iskandar development region may be overdone if one believes what the boss of Iskandar Waterfront Holdings, the master developer of Danga Bay where many Chinese developers have homed in,
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    • Article
      Lock icon SMEs’ optimism about growth in H2 slightly up
      544 2  -  But labour curbs dampen mood; SBF-DP index for 3rd to 4th quarter rises by half a point By CAI HAOXIANG By haoxiang@sph.com.sg @HaoxiangCaiBT [SINGAPORE] Singapore’s small and medium enterprises (SMEs) are slightly more positive about their growth in the next six months,
      544 words
    • Article, Illustration
      Lock icon Does Iskandar really need more reclaimed land?
      627 2  -  By ANITA GABRIEL anitag@sph.com.sg @AnitaGabrielBT [SINGAPORE] Too much of a good thing is bad. The fixation over waterfront properties in the Iskandar region, which has led to frenetic land reclamation, is threatening to undermine the prospects of the growth corridor launched in Johor
      FILE PHOTO  -  627 words
    • Article
      Lock icon Malaysia to tax S’pore cars entering Johor
      218 2 [JOHOR BARU] Malaysia has decided to implement the Vehicle Entry Permit fee for all foreign vehicles entering Johor. Prime Minister Najib Razak said the decision was made following a request from the state, a report from The Star Online said. “I have discussed
      218 words
    • Article, Illustration
      Lock icon China growth picks up in Q2, but analysts expect more stimulus
      844 4 Reuters [BEIJING] China’s economic growth picked up slightly in the second quarter as a burst of government stimulus paid dividends, but analysts said Beijing will likely need to offer more support to meet its annual growth target as the
      Reuters; PHOTO: AFP  -  844 words
    • Article, Illustration
      Lock icon Hospital bed crunch a cumulative problem
      710 4  -  Rate of increase in hospital beds did not match rate of population growth By CLAIRE HUANG huangjy@sph.com.sg [SINGAPORE] As Singapore moves to adopt universal healthcare through MediShield Life, observers say the government needs to review its long-term care financing structure and explore community-based alternatives
      710 words
    • Article
      Lock icon Critic warns govt against interfering in Petronas
      555 4  -  By S JAYASANKARAN in Kuala Lumpur VETERAN Malaysian journalist Abdul Kadir Jasin yesterday warned the government against interfering in the financial affairs of national oil firm Petronas, following the oil major’s promotion up the ranks of the annual Fortune 500 list. Mr Kadir,
      555 words
    • Article, Illustration
      Lock icon Ex-board member: I gave inaccurate evidence
      715 4  -  CITY HARVEST TRIAL By MICHELLE QUAH michquah@sph.com.sg @MichelleQuah [SINGAPORE] In what was perhaps one of the more highly anticipated moments of this long-running trial, former City Harvest Church (CHC) member Chew Eng Han representing himself for the first time since the resumption of the
      PHOTOS: SEAH KWANG PENG/THE STRAITS TIMES  -  715 words
    • Article
      Lock icon Sabana Reit’s Q2 distribution per unit lower at 1.86 cents
      445 5  -  Lower net property income, higher profit expense among reasons COMPANY NEWS By LEE MEIXIAN leemx@sph.com.sg @LeeMeixianBT SABANA Reit yesterday posted a distribution per unit (DPU) of 1.86 cents for its second quarter ended June 30, 2014 down 22.5 per cent
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    • Article
      Lock icon Centurion to buy UK student dorm assets for £77m
      411 5  -  By CAI HAOXIANG haoxiang@sph.com.sg @HaoxiangCaiBT DORMITORY operator Centurion Corporation is spreading its geographic wings to the United Kingdom, unveiling yesterday a proposal to buy four accommodation properties in Manchester and Liverpool for £77 million (S$164.5 million), its biggest acquisition so far.
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    • Article
      Lock icon Office Reit eyes mainboard listing
      335 5  -  By JOYCE HOOI joyceh@sph.com.sg @JoyceHooiBT IREIT Global, a local real estate investment trust, plans to raise gross proceeds of $372.4 million through an initial public offering (IPO) on the mainboard and the issuance of units to cornerstone investors. In a preliminary prospectus lodged with the
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      244 2 The LARGEST Investment Fair in Town! SUNTEC SINGAPORE 10aM 7pm 2nd-3rdAug 2014 CONVENTION EXHIBITION CENTRE LEVEL 4, EXHIBITION HALL 401 402 BRINGING YOU THE WORLD’S BEST SPEAKERS 1 2 3 4 5 1. Louis Wong Director of Phillip Securities (HK) Limited Topic: 2. Hu Li Yang 理 2014 展股
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      126 3 BIB U AN A s rr V i# fSS£ mm. V LUXURY INSPIRED IN EVERY DIRECTION Located at 8 Tomlinson Road, within the prestigious, tranquil Tanglin enclave and minutes to Orchard Road, HANA's prime position offers an enviable residential experience. Thoughtfully enhanced by bespoke Residence Concierge services provided by award-winning
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon UOB, JMH lead STI above 3,300
      594 6  -  Firm Europe, expectations of Wall Street rally likely factors for index’s gains STOCKS R SIVANITHY sivan@sph.com.sg @RSivanithyBT Senior Correspondent THE Straits Times Index yesterday jumped 13.01 points to 3,304.43, with most of the rise coming in the afternoon session following a firm opening for
      Source: Bloomberg  -  594 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 6 Jul 16 VALUE CLOSE BT OB/OS -17.00 -63.00 BT CADI -*****.00 +36.00 BT 10-day MA -*****.00 -1.00 FTSE ST Mid Cap 778.56 +3.03 FTSE ST Small Cap 564.89 +0.33 FTSE ST All Share 806.16 +2.98 FTSE ST China Top 198.14 +0.77 FTSE ST China 226.65 +0.96 FTSE
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 6 6 0 0 0 3 6 6 Manufacturing 53 42 49 6 8 12 59 50 61 Commerce 23 22 21 7 2 6 30 24 27 Tpt/Stor/Comms 16 13 14
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      120 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 17,451 17,451 28,487 28,487 Manufacturing 237,764 88,159 325,923 104,216 7,286 111,502 Commerce 97,765 62,292 160,057 69,663 6,507 76,170 Tpt/Stor/Comms 248,994 10,648 259,642 122,434 1,381 123,815 Finance 15,332 731 16,063 108,481 213 108,694 Construction 27,625 24,379
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    • Article, Illustration
      Lock icon BROKERS’ TAKE
      959 6  -  Compiled by TEH SHI NING Ezion Holdings July 16 close: S$2.050 DBS Group Research, Equity, July 16 CONTRACTS flowing in. Ezion has secured two charter contracts: (1) to provide a refurbished jackup to an East European-based oil major over seven years at US$122.6 million from Q2-15. This vessel
      Source: Bloomberg  -  959 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      121 6 Stock name Close Change Ascendas Reit 2.310 -0.010 CapitaLand 3.250 CapitaMall Trust 1.980 +0.015 CityDev 10.180 -0.030 ComfortDelGro 2.560 +0.030 DBS Grp 17.200 +0.030 Genting Sing 1.330 Global Logistic 2.750 +0.040 Golden Agri-Res 0.555 +0.010 HPH Trust USD 0.735 -0.005 HongkongLand USD 6.720 +0.040 JMH 400
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    • Article, Illustration
      Lock icon NZ dollar hit by double whammy
      563 6 CURRENCIES Reuters [WELLINGTON/SYDNEY] The New Zealand dollar slid to three-week lows yesterday after soft domestic inflation data and a sharp fall in global dairy prices raised questions about whether the Reserve Bank of New Zealand (RBNZ) would need to tighten much more this year.
      Reuters; PHOTO: BLOOMBERG  -  563 words
    • Article
      Lock icon MOST ACTIVE STOCKS
      59 6 VOLUME Jaya 162,793,000 SIIC Environment 110,150,000 Armarda 98,989,000 OLS Enterprise 79,128,000 Artivision Tech 49,498,000 Global Testing 45,952,000 Mirach Energy 43,497,000 Rowsley W*****3 33,019,000 Blumont 31,506,000 Federal Int 29,467,000 VALUE($) UOB 50,139,520 SingTel 45,240,800 Global Logistic 44,973,640 DBS Grp 31,494,820 Biosensors 24,820,550 CapitaCom Trust 23,906,194 Ezion 23,548,070 JMH
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    • Article
      Lock icon RISES
      115 6 BY CENTS CLOSE UP Lyxor ThaiSET 10US$ ***** 150.3 0.9 DBXT Nifty 10US$ ***** 126.7 0.8 Lyxor Indonesia10US$ 9440 126.7 1.1 SPDR DJIA 10US$ ***** 67.1 0.3 JMH 400 USD 5962 49.7 0.7 SPDRS S&P 500 10US$ ***** 33.5 0.1 DairyFarm 900USD 1076 28.6 2.2 DBXT MSINDO 10us$ 1505
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    • Article
      Lock icon FALLS
      128 6 BY CENTS CLOSE DOWN GLD 10US$ ***** -137.9 -0.9 DBXT iBoxxSvEu 5US$ ***** -113.0 -0.3 DBXT EONIA 5US$ ***** -104.3 -0.4 DBXT iBoxxKR 5US$ ***** -79.5 -0.4 DBXT AUDCS 5US$ ***** -64.6 -0.3 DBXT AUDCS 5SG$ ***** -58.0 -0.2 DBXT USDIGInfl 5US$ ***** -38.5 -0.1 Lyxor AsiaIT 10US$ 3935
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 6 DAILY
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  • COMPANY NEWS
    • Article
      Lock icon Olam’s 5-year $400m bonds snapped up
      420 7  -  Temasek-linked commodities group prices issue at 4.25% By SIOW LI SEN lisen@sph.com.sg @SiowLiSenBT OLAM International’s fiveyear $400 million bond issue got strong demand from private bank clients, said DBS Bank yesterday. The issue, the first after Olam became a Temasek Holdings subsidiary, received orders
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    • Article
      Lock icon ISDN to take stake in Indonesian hydropower projects
      262 7  -  By JOYCE HOOI joyceh@sph.com.sg @JoyceHooiBT ENGINEERING solutions provider ISDN Holdings is creating a portfolio of mini hydropower projects in Indonesia with an Indonesian partner, PT Jodo Alam Titra (PT Jodo). In relation to that, both Aenergy Holdings Private Ltd a wholly owned
      262 words
    • Article, Illustration
      Lock icon ST Electronics bags Q2 deals worth $580m
      253 7  -  By JOYCE HOOI joyceh@sph.com.sg @JoyceHooiBT ST ELECTRONICS, ST Engineering’s electronics arm, has won contracts worth about $580 million in the second quarter of this year. About $272 million in contracts were for rail electronics and traffic management projects, work on which has started
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    • Article
      Lock icon BMW to recall 1.6m cars worldwide
      183 7 Reuters [DETROIT] German automaker BMW said yesterday it is recalling about 1.6 million cars worldwide to replace passenger-side front airbags made by Takata Corp because the inflators could break apart during deployment and injure passengers. The recall affects 3-Se-ries vehicles produced between May 1999
      Reuters  -  183 words
    • COMPANY BRIEFS
      • Article
        Lock icon Three partners cancel Cambodian JV
        125 7 A JOINT venture investment involving Lian Beng Group, Heeton Holdings and KSH Holdings to redevelop a plot of land in Cambodia has been terminated. The firms said yesterday that the various parties to the joint venture agreement and the sale and purchase agreement for the
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      • Article
        Lock icon SBI set to deliver EPCC job by end-July
        97 7 SBI Offshore is due to complete an engineering, procurement, construction and commissioning (EPCC) project worth US$30 million on July 23. It is slated for final delivery at the end of the month. SBI Offshore recognised US$28.8 million in revenue from the EPCC
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    • Article
      Lock icon Is surge in orders a sign of uptrend in O&M sector?
      824 8  -  Some analysts see an upcycle, others say premature to call it a trend By MALMINDERJIT SINGH msingh@sph.com.sg @MalminderjitBT THE large contracts won in the short span of a week by several Singapore-listed companies in the offshore marine (O&M) space
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    • Article, Illustration
      Lock icon SGX to maintain its niche in IPO market: PwC
      470 8  -  Its strength lies in Reits and mineral, oil and gas listings By CAI HAOXIANG haoxiang@sph.com.sg @HaoxiangCaiBT THE Singapore Exchange (SGX) continues to maintain a niche position in South-east Asia, with its traditional strength in real estate investment trusts (Reits) and mineral,
      PHOTO: BLOOMBERG  -  470 words
    • Article, Illustration
      Lock icon Rex sells a Trinidad working interest to Leni Oil and Gas
      466 8  -  By ANDREA SOH sandrea@sph.com.sg @AndreaSohBT CATALIST-listed Rex International has divested its indirect equity in the working interest for the Innis-Trinity oil field in Trinidad and Tobago for US$5 million in cash. Caribbean Rex Limited, an indirect subsidiary of Rex
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      Lock icon Page 7 Advertisements Column 1
      272 7 /5 i^ea Singapore Gifts Premiums Fair 2014 www.SGPFair.com ■«> Massive Showcase of the Latest Products and Innovative Offerings from over 25 Countries Regions! Get the dates right! Te-is jUlY .2014 10.3flaw 6.30pm (Wed fhurs) 10.30am 5.30pm (Fri) Level Hall A 3-6 Marina Hay Sands, Singapore 3* Visit to Win A
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      835 8 The Business Times NOTICES Toll free 1800-289-8822 Email notlces@sph.com.sg www.sphclass.com,sg/notices FIRST CACO PTE. LTD. (Incorporated in the Republic of Singapore) Co. Reg. No. *****1241Z NOTICE IS HEREBY GIVEN that the following share certificate has been reported lost. Name Total No. of shares Certificate No. Caco Pacific Corporation 50,000 2 4
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      21 8 Now on PC, iPad Android COME SAIL AWAY Ask your local bookshop or get your copy by subscribing today Visitwww.asia-pacificboating.comor emailsub@bluincmedia.com
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      144 8 C \L/ SCS /<5i/eau ■air Singapore Gifts Premiums Fair 2014 MU*" V r> it* vT > Visit O O Wn to More? than $15 000 worth of prizes for grabs! up Be rewarded with chances to win'' attractive prizes when you attend SGPFair OEA 2014. Stand a chance to win
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  • SINGAPORE NEWS
    • Article
      Lock icon Get an Easy Taxi via the WeChat app
      437 9  -  Tie-up marks messaging app’s first taxi partnership outside China By JACQUELYN CHEOK jaccheok@sph.com.sg @JacCheokBT COMPETITION in the taxi booking market here just moved up another notch, this time with Easy Taxi announcing that it has partnered WeChat to let users book taxis
      437 words
    • Article
      Lock icon S’pore trails China, HK in British Telecom poll
      281 9  -  Some 23% of execs abroad see it as ‘highly desirable’ for business expansion By CAI HAOXIANG haoxiang@sph.com.sg @HaoxiangCaiBT SINGAPORE is the third most desirable market for businesses to expand in the Asia-Pacific after China and Hong Kong, a survey of 1,150 business
      281 words
    • Article, Illustration
      Lock icon Singapore cityscape taking shape at Paragon
      340 9  -  Artwork by UK artist to be SPH’s gift to S’pore for its 50th anniversary next year By CAI YONG caiyong@sph.com.sg BRITISH artist Stephen Wiltshire is drawing the Singapore cityscape from memory at the Paragon shopping centre. The autistic savant started work yesterday after the
      PHOTO: BETTY CHUA WAN TING/LIANHE ZAOBAO  -  340 words
    • Article
      Lock icon SUTD-JTC research centre takes off with at least 3 projects
      381 9  -  It aims to develop innovative industrial infrastructure solutions By RAPHAEL LIM raphlim@sph.com.sg JTC Corporation and the Singapore University of Technology and Design (SUTD) will collaborate on projects involving real-es-tate solutions, with the launch of a new research centre at the
      381 words
  • Page 9 Advertisements
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      63 9 YOU MUST-HAVE ENOVATION ESOU CE BOOK! 2014 EDITION OUT NOW! Create your own cinema, spa and gym at home Build the wardrobe of your dreams Discover the hottest trends in tiles, wallpaper and more! EARLY-BIRD SPECIAL AT ONLY$8(U.P. $10) Valid till July 31, 2014. Only for print edition when purchased
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      254 9 "Winners Don't Do Different Things, They Do Things Differently."® YOU CAN WIN Author aPlhternational Best Seller YOU CAN WIN® Sold over 2.8 million copies 3-Day Program HI-IMPACT LEADERSHIP Blueprint for Success Optimize Performance Move Up to the Next Level. The program helps increase productivity by creating a culture of trust
      254 words
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  • MALAYSIA/INDONESIA
    • Article, Illustration
      Lock icon Bankers woo Maybank with M&A ideas
      707 10 CIMB’s plan to buy RHB seen likely to pressure Maybank towards a deal Reuters [KUALA LUMPUR] Investment banks are rushing to court Malayan Banking Bhd (Maybank) with a range of M&A ideas, convinced its arch-rival’s plan to acquire two lenders will push Malaysia’s top
      Reuters; PHOTO: BLOOMBERG  -  707 words
    • Article
      Lock icon Jakarta threatens to terminate Newmont contract
      308 10 Reuters [JAKARTA] Indonesia could terminate Newmont Mining’s copper mine contract if the US-based firm does not withdraw a legal challenge to the country’s export taxes, a government official said on Tuesday. Newmont earlier this month filed for international arbitration over an escalating export tax
      Reuters  -  308 words
    • Article
      Lock icon MSM moves into raw sugar trading
      472 10 [KUALA LUMPUR] MSM Malaysia Holdings Bhd, the country’s biggest sugar refiner, is planning to venture into international raw sugar trading to have better control of the entire value chain, according to The Star newspaper in Malaysia. The company, which is controlled by Felda Global
      472 words
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      68 10 Taste Master Ah Yoke is the go-to guy for his spot-on restaurant reviews. Look out for them in Life!, SundayLife! and in the SoShiok app. I I 9 v Wong Ah Yoke Food Critic ■■■-THE STRAITS TIMES, wherever you are it* Si 'tr: m m THE STRAI'IS TIMES a 21
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  • SINGAPORE ACCOUNTANCY CONVENTION
    • Article, Illustration
      Lock icon Evolution of the audit profession
      1048 11  -  As the business world becomes more complex, the role of the auditor has never been more relevant. KANreports FRANCIS KAN THERE has been a growing mistrust in institutions of all kinds since the great financial crisis exposed illegal and unethical behaviour across the financial sector.
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    • Article
      Lock icon Three challenges to raise audit quality
      218 11 ACRA chief executive Kenneth Yap talks about the regulator’s work with the audit profession on three inter-related challenges that are vital to raising audit quality. “First, the profession needs to develop and retain the best talent, so that it can deliver high value services
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    • Article
      Lock icon Key audit matters
      206 11 THE International Auditing and Assurance Standards Board’s (IAASB) flagship project on innovation in auditor reporting is bringing to life a major change in the way auditors report to external stakeholders, said IAASB chairman Arnold Schilder. Here, he talks about a new accounting standard that will deliver more
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      338 11 INSTITUTE OF SINGAPORE CHARTERED ACCOUNTANTS THE CAPSTONE EVENT OF THE YEAR SINGAPORE ACCOUNTANCY CONVENTION 2014 Rare opportunity to hear from and network with prominent Chairmen that helm International Standard-Setting Boards! Professor Arnold Schilder, Chairman, International Auditing and Assurance Standards Board Mr Hans Hoogervorst, Chairman, International Accounting Standards Board for the
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon Bank of China hiring traders in Hong Kong
      798 12 It is setting up highyield bond-trading platform to boost market share Bloomberg [HONG KONG] Bank of China Ltd is hiring traders and sales people in Hong Kong as it sets up a high-yield bond-trading platform to boost market share and cement its
      Bloomberg; PHOTO: REUTERS  -  798 words
    • Article
      Lock icon India lenders to sell reserve requirement-free bonds
      397 12 Bloomberg [MUMBAI] India’s central bank allowed lenders to sell long-term bonds exempted from reserve requirements to boost funding for infrastructure and affordable housing. The rupee-denominated bonds will have a minimum maturity of seven years and will be free from cash reserve and statutory
      Bloomberg  -  397 words
    • Article, Illustration
      Lock icon Yahoo to distribute part of proceeds from Alibaba IPO
      748 12 Bloomberg [SAN FRANCISCO] Yahoo! Inc will return at least half of the cash it reaps from Alibaba Group Holding Ltd’s initial public offering to shareholders, providing solace to investors who’ve hung on as chief executive officer Marissa Mayer struggles to revive
      Bloomberg; REUTERS FILE PHOTO  -  748 words
    • Article
      Lock icon Trafigura eyes India metals market
      316 12 Reuters [NEW DELHI] Swiss-based Trafigura has launched an online store in India to sell aluminium, copper and other metals, seeking a slice of the US$8 billion market and becoming the first big commodities trader to cater to hordes of small manufacturers dotting the country. Trafigura,
      Reuters  -  316 words
    • Article, Illustration
      Lock icon Multi-million-dollar fines for former Satyam boss, aides
      338 12 AFP [MUMBAI] India’s equity market regulator has slapped multi-million-dollar fines on the former chief of outsourcing giant Satyam and his aides for manipulating the firm’s shares in a scandal dubbed “India’s Enron”. B Ramalinga Raju and four others, including his brother and former
      AFP  -  338 words
    • Article
      Lock icon China media welcomes new BRICS bank
      366 12 AFP [SHANGHAI] Chinese media yesterday hailed the creation of the BRICS development bank, to be based in Shanghai, blaming Western countries and multilateral agencies for flaws in the global financial system. At a summit in Brazil, the BRICS group of emerging economic powers which
      AFP  -  366 words
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      6842 13 THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. If Noteholders (as defined below) are in doubt about any aspect of the New Proposal (as defined below) and/or the action they should take, they should seek their own financial advice from their stockbroker, bank manager, solicitor, accountant or
      6,842 words
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  • FUTURE CHINA FORUM
    • Article, Illustration
      Lock icon Riding the wave of a globalising China
      1225 14  -  Chinese companies are tapping Singapore as a springboard for expansion and it’s a trend that should be encouraged, saysCHUA CHUA THIAN POH The writer is chairman of Business China IN THE past year alone, Singapore has garnered significant attention from several top Chinese
      PHOTOS: BLOOMBERG, SINGPOST, AFP  -  1,225 words
    • Article, Illustration
      Lock icon China’s transition one year on
      804 14  -  By CHRIS LEUNG The writer is senior economist, group research, DBS Bank IN 2013, the Communist Party of China (CPC) set an ambitious national agenda seeking to guide the country through its next era of economic, political and social development. Crucially, the reforms focus on
      PHOTO: BLOOMBERG  -  804 words
    • Article, Illustration
      Lock icon The state of China’s capital markets
      1296 15  -  Rather than stimulate them to grow even faster, it would be better to improve their ability to serve the real economy. BY NICHOLAS BORST The writer is research associate and China programme manager at the Peterson Institute for International Economics in Washington, DC OVER
      PHOTO: BLOOMBERG; Source: Peterson Institute for International Economics  -  1,296 words
    • Article, Illustration
      Lock icon China companies gear up for overseas acquisitions
      1265 16  -  This is likely to be a record year for outbound M&As, led by the increased experience of Chinese buyers and underpinned by government direction and support. By lynette khoo BY LYNETTE KHOO lynkhoo@sph.com.sg @LynetteKhooBT CHINESE companies are acquiring overseas companies, prompted by a
      PHOTOS: BLOOMBERG  -  1,265 words
    • Article, Illustration
      Lock icon Facilitating China-S’pore trade
      878 16  -  By NEERAJ SWAROOP The writer is chief executive officer, Standard Chartered Bank, Singapore WITH the theme of “China at the crossroads: the way forward”, Singapore will hold the prestigious annual FutureChina Global Forum on July 17-18, 2014, providing a high-level platform for government and business leaders, academia,
      PHOTO: BLOOMBERG  -  878 words
    • Article, Illustration
      Lock icon Building for tomorrow
      1243 17  -  As CapitaLand marks its 20th year in China, JASON LEOWreviews the group’s diversified real estate portfolio there, and looks ahead to new opportunities and challenges JASON LEOW The writer is chief executive officer of CapitaLand China CHINA is one of CapitaLand’s two core markets and the group’s
      1,243 words
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      Lock icon Quality portfolio for an urbanising China
      1194 17 SINCE establishing a presence in China in the early 1980s, Keppel has been participating in the country’s urbanisation and has contributed to the creation of vibrant, liveable and sustainable urban communities. Today, Keppel has established a presence in 23 Chinese cities and is a
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      56 15 CHINA AT THE CROSSROADS: THE WAY FORWARD CHINA AT THE CROSSROADS 17 18 JULY 2014 SHANGRI-LA HOTEL, SINGAPORE Business China welcomes all delegates of FutureChina Global Forum 2014 and thanks all sponsors and partners for their invaluable support. Platinum Sponsors Founding Sponsor Organizer Gold Sponsors Silver Sponsors Supporting Organization Official
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  • PATRON OF THE ARTS
    • Article, Illustration
      Lock icon Essentially Singapore
      137 18  -  By Francis Kan “All the Essentially Essential” is the sixth public sculpture that City Developments Limited (CDL) has commissioned and installed to date. Located in Raffles Place, the piece is a humorous tongue-in-cheek take on the “packed-to-the-brim” lifestyle of the average ever-efficient Singaporean seeking work-life balance. From the
      137 words
    • Article, Illustration
      Lock icon A broad spectrum of support
      711 18  -  This year’s Patron of the Arts award recipients are from all walks and life and industries, reports francis kan reportsFRANCIS reportsFRANCIS KAN MORE Singaporeans opened their wallets to support the arts last year, as the number of individuals recognised for their contribution to various creative
      711 words
    • Article, Illustration
      Lock icon Giving S’pore classical musicians a local stage
      668 20  -  Music lover Kris Tan’s charity foundation funds concerts, provides bursaries to promote the classical music scene here, reports francis kan reportsFRANCIS reportsFRANCIS KAN KRIS Tan doesn’t hide the fact that she is head over heels in love with classical music. She owns no
      668 words
    • Article, Illustration
      Lock icon Making tracks in promoting the arts
      653 20  -  BMW’s support for artistic endeavour is ingrained in the carmaker’s DNA By ERLIANA ZAID A CAR isn’t the first thing you would usually associate with the arts. But for luxury carmaker BMW, support for the arts is an intrinsic part of the company’s heritage,
      653 words
    • Article, Illustration
      Lock icon A creative concoction
      478 20  -  By Francis Kan WILLIAM Grant Sons (WGS) is a first time winner of at this year’s Patron of the Arts Awards. The Singapore arm of the world’s third largest producer of Scotch whisky received the Friend of the Arts award for its donations to the performing arts
      478 words
    • Article, Illustration
      Lock icon Long service awards
      1725 22 Four organisations received their first Patron of the Arts Awards almost three decades ago. We find out what motivates them to keep supporting the local arts scene The Business Times: You have been a Patron of the Arts awardee for over 20 years. What have been some
      PHOTO: UOB  -  1,725 words
    • Article, Illustration
      Lock icon A public display of creativity
      769 24  -  An outdoor sculpture by renowned artist Anish Kapoor is the latest effort by Marina Bay Sands to bring art to the masses, reportsFRANCIS FRANCIS KAN VISITORS to the Art Science Museum may notice that a circular stainless steel structure has popped up nearby. With its
      769 words
    • Article
      Lock icon A BOOST FOR THE ARTS
      189 24 Here are some of the ways that Marina Bay Sands supports the local arts scene. NAC Public Art Trust Marina Bay Sands is the first corporate donor for the newly established Public Art Trust. This fund by the National Arts Council (NAC) is established with
      189 words
    • Article, Illustration
      Lock icon Small in size but big at heart
      810 24  -  Nom Nom Media, Bureau punch above their weight in their support of the arts By ERLIANA ZAID TWO local companies, each only half a decade old and relative newbies in the business world, have shown that size doesn’t matter when it comes to
      810 words
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      130 18 a M J OWy J cvm/ iouiamm22 Poh Choon Ann, Chairman, Poh Tiong Choon Arts Fund This is to mark the occasion of the Poh Tiong Choon Arts Fund being conferred the Patron of the Arts Award by the National Arts Council for 2014. In order to continue and step
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      240 19 i ia.S'ffe i f arar s PH v.C/ w City Developments Limited THE LANDSCAPE WE HELP SHAPE GOES BEYOND BUILDINGS fl m i, HP! 7 t £sxs’ I jk WlA i U i P&if BNHHhBHHHBI At CDL, beyond developing city structures and architectural icons, we create vibrant environments that last
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      1343 21 PATRON OF THE ARTS AWARDS 2014 Our heartfelt appreciation to all award recipients for your generous contributions towards a thriving arts scene in Singapore. DISTINGUISHED PATRON OF THE ARTS BMW Asia Pte Ltd City Developments Limited Conrad Centennial Singapore Far East Organization Hong Leong Foundation HSBC Keppel Corporation Limited Lee
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  • Page 23 Advertisements
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      215 23 33 rd UOB PAINTING OF THE YEAR Art transcends language, culture and time, and the best works inspire the imagination. Driven by a passion to encourage local artists to pursue their creative talent, we started the UOB Painting of the Year competition in Singapore in 1982. Now, the UOB Painting
      215 words
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  • Page 25 Advertisements
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      1379 25 ADVERTORIAL From barley to bottle The Balvenie story LIKE an artist carefully crafting a sculpture, The Balvenie Malt Master David Stewart meticulously transforms golden grains of barley into liquid amber the finest single-malt Scotch whisky. The attention to detail is legendary at The Balvenie, the only distillery that still grows
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      90 26 y i HE ft r ft r a 4 V m ART? «n* i :ur GW £5W £X .1* m m SPH HAS CONTINUOUSLY STRIVED TO ENRICH THE PASSION FOR CREATIVITY AND INSPIRE IMAGINATIVE EXPRESSION FROM SCHOOLS TO THE STREETS. ONCE AGAIN, WE ARE HONOURED TO BE RECOGNISED FOR OUR
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  • WORLD
    • Article
      Lock icon JPMorgan’s Q2 gain raises hopes for US economy
      856 27 Though not strong, it shows that the bank is stepping up lending in key areas NYT [NEW YORK] It has worked before: When big banks loosen the lending spigot, the economy tends to grow faster, creating more jobs and higher incomes. JPMorgan
      NYT  -  856 words
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      Lock icon Natural hot spring found in Tokyo business district
      374 27 Bloomberg [TOKYO] Tokyo office workers and tourists looking to soothe their aching backs and shoulders in one of Japan’s famous hot springs will soon have an option beyond the stone-lined baths deep in the mountains. Mitsubishi Estate Co, Japan’s biggest developer by
      Bloomberg; PHOTO: BLOOMBERG  -  374 words
    • Article
      Lock icon Messaging app Line mulls over Japan, US stock listing
      346 27 AFP [TOKYO] Fast-growing messaging app Line said yesterday that it was considering a share listing in Tokyo, a day after a report that it was eyeing an offering estimated at a whopping US$9.8 billion. The Tokyo-based firm which was formed in
      AFP  -  346 words
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      Lock icon UK jobless rate falls to 6.5%; earnings weaker than forecast
      502 27 Reuters [LONDON] Britain’s unemployment rate fell to its lowest level since late 2008 in the three months to May, but pay growth was weaker than expected, official data showed yesterday. The jobless rate fell to 6.5 per cent between March
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    • Article
      Lock icon Long-time rivals Apple and IBM in win-win deal
      583 27 Tie-up will promote iPhones and iPads, help IBM sell its software Bloomberg [NEW YORK] Apple Inc and International Business Machines Corp (IBM) are putting aside a rivalry started at the dawn of the personal-computing (PC) era to get more businesses to embrace
      Bloomberg  -  583 words
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      Lock icon ‘Bail-in’ regime should apply to all banks: ANZ
      355 27 Europe is already pushing ahead with the rescue model Reuters [SYDNEY] Banks around the world should be obliged to follow a “bail-in” regime if it were to be implemented, and not just those “too big to fail”, Michael Smith, chief executive of
      Reuters  -  355 words
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      Lock icon Time Warner snubs Murdoch’s US$80b bid
      893 28 Bold approach could put the firm in play, ignite a reshaping of the media industry NYT [NEW YORK] The media giant 21st Century Fox, the empire run by Rupert Murdoch, made an US$80 billion takeover bid in recent weeks for Time Warner Inc but
      NYT; PHOTO: BLOOMBERG  -  893 words
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      Lock icon Litigation costs hurt BofA, Q2 profit dips 43%
      530 28 Bloom berg [NEW YORK] Bank of America Corp, the second biggest US bank, said that profit declined 43 per cent as it spent US$4 billion to cover litigation costs, including a mortgage settlement with American International Group Inc (AIG). Net income fell
      Bloomberg  -  530 words
    • Article
      Lock icon June producer prices up more than forecast
      641 28 LATEST US DATA Reuters Bloomberg [WASHINGTON] US producer prices rose more than expected in June with gains across most categories, pointing to some inflation at the factory gate. The Labor Department said yesterday that its producer price index (PPI) for final demand increased
      Reuters; Bloomberg  -  641 words
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      Lock icon Two reactors at Sendai nuclear plant set to restart operations
      505 28  -  Japan regulator gives initial nod despite opposition By ANTHONY ROWLEY in Tokyo JAPAN’S Nuclear Regulation Authority (NRA) yesterday announced preliminary approval for restarting operations of two reactors at Sendai nuclear plant in Kagoshima prefecture, making it the first of Japan’s
      505 words
    • Article
      Lock icon Gold fixing banks may change process
      453 28 Bloomberg [LONDON] The banks running the centu-ry-old London gold fixing that’s used by miners and central banks to trade and value metal are proposing changes to the process, according to two people with knowledge of the matter. The proposal is for an independent chairman
      Bloomberg  -  453 words
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  • AVIATION/SHIPPING
    • Article
      Lock icon Canberra keeps Qantas in Aussie hands
      395 29 But it agrees to a compromise that will ease foreign investment curbs AFP [SYDNEY] The Australian government yesterday abandoned plans to allow struggling national carrier Qantas to be majority over-seas-owned but agreed to a compromise that will see foreign investment restrictions eased. Qantas has
      AFP  -  395 words
    • Article
      Lock icon 20 injured as HK-bound plane hits turbulence
      393 29 Incident occurred over KL, says South African Airways AFP [HONG KONG] At least 20 people were injured when a passenger jet from South Africa to Hong Kong hit “severe” turbulence yesterday with two men seriously hurt, officials in the southern Chinese city said.
      AFP  -  393 words
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      Lock icon China moves rig from disputed Paracels
      833 29 Reuters [SHANGHAI] A Chinese oil rig has finished drilling near the disputed Paracel islands in the South China Sea after finding signs of oil and gas and is being moved away from the area, more than two months after its deployment damaged relations with
      Reuters; PHOTO: REUTERS  -  833 words
    • Article
      Lock icon TRANSPORT STOCKS
      242 29 SGX '000 Jul 16 S$ +/-Vol Ch Offshore '000 Chuan Hup Hldg 0.29 unch 420 Cosco Corp 0.70 unch 437 Cwt Limited 1.74 -0.01 386 Vol First Ship Lea ....0.46 Grand Banks 40 Jaya Hold Ltd 0.06 0.02 *****3 K1Ventures 0.21 0.01 741 Keppel Corp 10.86 unch 994
      242 words
    • Article
      Lock icon Parked SIA jet hit by Philippine typhoon
      221 29 Reuters [MANILA] Two aircraft, one of them a Singapore Airlines plane, suffered minor damage yesterday when gusts from Typhoon Rammasun blew them into nearby obstacles, airport officials in the Philippine capital said. Nearly 400 flights were grounded during a four-hour closure of Manila
      Reuters  -  221 words
  • Page 29 Advertisements
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      32 29 MATHS OBSESSION WhydoIndian parents stressonthe subject? INTEGRATION CUP 2014 !Goodiebagworthmorethan$200 !Jaguar XJ, hole-in-oneprize Signup atwwwg. olfdigest.com.sg GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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      39 29 HOT PROPERTY S New! Brand !^ttsS n o er Fully A.BSSSUJ PALLADIUM 2 BDRMS 8ft? of APARTMENT FOR RENT Check this and many other properties in The Straits Times Classified now! THE STRAITS TIMES CLASSIFIED -BUY IT-SELL IT-FIND IT-
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  • Page 29 Miscellaneous
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      Lock icon Page 29 Miscellaneous Column 1
      320 29 CRYPTIC CROSSWORD Across 1 State of coalminer working around bottom of mine (10) 6 Find fault in vehicle parking (4) 9 Killed repeatedly in the past, it’s said (5) 10 Preserve from damage caused absorbing nearly everything (9) 12 Performer from start is teasing (7) 13 Go through European valley
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  • EDITORIAL & OPINION
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      Lock icon Central banks ill-advised to deny bubble risk
      469 30 EDITORIAL IN its annual report released late last month, the Bank for International Settlements (BIS) warned that “euphoric” financial markets have become detached from reality and called for governments to end policies that risk fuelling unsustainable asset booms. BIS which is known as
      469 words
    • Article
      Lock icon US catching up with doctrine of doing well by doing good
      775 30  -  THE BOTTOM LINE By AMY FENTON The writer is Nielsen’s global leader of public development and sustainability MORE than 40 years ago, the economics Nobel laureate Milton Friedman famously objected in The New York Times Magazine to the notion
      775 words
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      Lock icon China’s e-commerce revolution to intensify
      1114 30  -  McKinsey puts China ‘e-tail market’ sales at US$210b in 2012, doubling to US$420b by 2020 By SHU-CHING JEAN CHEN IT IS often said that there is no such thing as a single unified market in China. The common wisdom portrays China as an amalgamation of
      PHOTO: AFP  -  1,114 words
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      Lock icon Renew Israeli-Palestinian dialogue
      1083 31  -  Not between the leaders but the people; that is the only way to end the bloodshed By NIMROD NIR NYT I OFTEN think about him, especially in times like these. I try to imagine his home in the Gaza Strip. I try to imagine what he might
      NYT; PHOTO: AFP  -  1,083 words
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      Lock icon Diversity in skills-mix needed for effective audit committees
      738 31  -  By YUANTO KUSNADI, LEONG KWONG SIN, THEMIN SUWARDY, WANG JIWEI The writers are from the Singapore Management University’s School of Accountancy THE recently revised Singapore Code of Corporate Governance requires audit committee members to have “recent and relevant accounting or related financial
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    • Article
      Lock icon Where thieves are siphoning off oil
      857 31  -  By CHRIS DALBY The writer is a contributor to Oilprice.com where this article was first published THESE are the five countries most plagued by oil theft. Nigeria As many as 400,000 barrels of oil a day are stolen in Nigeria. This equates to losses
      857 words
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  • Article
    Lock icon SHIPPING TIMES
    1221 32 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
    1,221 words
  • Page 32 Advertisements
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      80 32 Experienced ship maintenance find you y r services services wanted, herein the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 The Business Times I Fit. UUJIMLJJ IIIVILJ Shipping times Legal services required by shippers owners TO ADVERTISE, CALL JOE WONG AT 9620 Can they find your services here
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      4112 33 Transaction date: Jul 16 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 97.5 69 ABR 14.9 11.2 AEI Div Gr Yld Net M Cap High 159.4 130.4 AIMSAMP Cap Reit
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      Lock icon SGX CATALIST
      431 34 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 32 23 t 3Cnergy 500 Last Vol Day Last Quote Div Gr Yld Net M Cap High 13.3 2.1 t Artivision Tech.................................12.7 +0.2 *****
      431 words
    • Article
      Lock icon UNIT TRUST & FUNDS
      10900 34 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 3649/ 9979/ Aberdeen Asset Mgt Asia Limited 583/ 516/ 0803/ 0679/ 9451/ 627/ Global Emerging Markets!** <oo< i£ up jg r< r3 -if rQ g id 0 id >D rj rj m 5 Vpco-^mogoSdirNr^fNiS ggigmftggS
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      Lock icon GLOBALQUOTE
      235 34 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 Last 343 215 TanChongInt HK321 unch 165 322 321 321 328 9.7 3.3 3.1 6464.6 DISCLAIMER: All information is published “as is” without warranty of any kind
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    • Article
      Lock icon SGX ETF
      1088 34 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 116 108.3 ABF SG Bond ETF 115.2 -0.3 115.2 115.2 115 115.5 525.9 135.5 119 CIMB APAC Div 100S$D 132.6 -1.4 132.6 132.6 131.7 134 108.9
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      661 35 Jul 16 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.66 *****.96 *****.00 Sep14 *****.00 *****.00 *****.00 *****.00 ***** *****3 Dec14 *****.00 1 ***** MSCI TAIWAN INDEX FUTURES SPOT 348.13 348.42 343.84 Jul14 346.60 347.40 342.90 344.50 ***** *****4 Aug14 344.50 344.90 340.90 342.10
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 35 In local curr In S$ In US$ dy yr dy yr dy yr Jul 15 Index Change Change Change Change Change Change World Preliminary 1235.9 -0.3 4.3 -0.1 3.2 -0.4 4.8 EAFE Preliminary 964.9 -0.3 0.9 -0.2 0.5 -0.4 2.0 Europe Preliminary 1377.3 -0.6 1.7
      373 words
    • Article
      Lock icon INTERBANK CROSS RATES
      471 35 Jul 16 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.006 5.801 0.690 7.246 56.192 109.453 0.951 9.650 2.981 1.075 92.307 40.771 1.162 9.992 0.839 28.045 30.024 0.545 0.935 Canada 0.994 5.769
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    • Article
      Lock icon SIBOR
      37 35 Jul 16 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) 1 mth 1 mth 3 mths 6 mths 6 mths Source: Thomson Reuters
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    • Article
      Lock icon GOVERNMENT SECURITIES
      76 35 Jul 16 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 1-Year BY*****S 02-May-15 0.34 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0W 1.125 01-Apr-16 101.23 5-Year NX*****W 2.5 01-Jun-19 106.43 106.55 106.55 10-Year NX*****H 2.750 01-Jul-23 103.69 103.80
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    • Article
      Lock icon PRECIOUS METALS
      122 35 Jul 16 GOLD(US$/oz) Jul 16 Jul 15 Hong Kong 1301.00 1312.00 Jul 15 Jul 14 London 1297.70 1307.80 1297.85 1308.60 Source: Thomson Reuters CAST BAR Jul 16 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 78 49 5gm 311 257 10gm 579 516
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    • Article
      Lock icon PALM OIL
      57 35 Jul 16 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 14 2355.0 2345.0 2380.0 2355.0 805 9565 Aug 14 2315.0 2298.0 2334.0 2305.0 8989 ***** Sep 14 2300.0 2284.0 2315.0 2288.0 ***** ***** Oct 14 2299.0 2287.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 35 Jul 16 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1610 1.1622 0.9347 0.9351 Canadian dollar 1.1545 1.1559 0.9300 0.9295 Euro 1.6833 1.6846 1.3552 1.3554 NZ dollar 1.0801 1.0816 0.8696 0.8702 Sterling pound 2.1297 2.1316 1.7146 1.7150
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    • Article
      Lock icon CHICAGO BOT
      109 35 Jul 15 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Aug 14 1180.50 1197.00 1195.00 1153.25 Sep 14 1104.25 1108.00 1108.50 1084.75 Nov 14 1086.25 1086.25 1088.50 1070.00 Jan 15 1095.00 1095.00 1096.75 1079.00 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Aug 14
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    • Article
      Lock icon LIFFE
      95 35 Jul 15 COCOA (£/tonne) Close Prev High Low Jul 14 1953 1960 1982 1948 Sep 14 1930 1922 1948 1917 Dec 14 1905 1901 1921 1895 Mar 15 1890 1888 1906 1882 COFFEE(US$/tonne) Close Prev High Low Jul 14 2025 2026 2023 2009 Sep 14 2022 2023 2027 1988
      95 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      960 35 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 4.6 0.3 1 -57 3.88 48 Asia-Pacific Strategic W*****6 Ratio Exer Price Asiatic Grp(Hldgs) Ltd W*****5 Disc Asiatravel.com HoldingsW*****7 4.4 1 25 0 Asiatravel.com HoldingsW*****5 6.4 1 27
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    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 35 CRUDE OIL PRODUCTS Jul 15 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 105.82 -1.58 WTI (Near Mth) 99.73 -1.28 Dubai (1-Mth F) 104.19 -0.31 Tapis blend 108.43 -0.79 Minas 104.03 -0.79 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 107.61 1.55 Jet Kerosene 118.46 0.31 US$/barrel OpecOil Basket
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    • Article
      Lock icon US$/S$ FORWARD RATES
      22 35 Jul 16 S$ Bid Offer 1-month 1.2421 1.2429 2-months 1.2421 1.2429 3-months 1.2420 1.2429 6-months 1.2419 1.2427 Source: OCBC
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    • Article
      Lock icon LONDON METALS
      65 35 Jul-15 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1940.50 1921.75 3 months 1960.00 1942.00 Copper, Grade A(US$/tonne) Cash 7128.00 7121.50 3 months 7130.00 7122.50 Lead(US$/tonne) Cash 2182.50 2189.50 3 months 2208.00 2213.00 Nickel (US$/tonne) Cash *****.00 *****.50 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months *****.00
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 35 As at 9am Jul 16 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.191 1.135 Can dollar 1.177 1.132 Euro 1.728 1.646 Sterling pound 2.172 2.089 NZ dollar 1.110 1.068 US dollar 1.269 1.209 Local dollars to 100 units of foreign
      121 words
    • Article
      Lock icon INTERBANK RATES
      157 35 Jul 16 $S Offer Bid 0vernight 0.08 0.03 1-month 0.3750 0.2500 2-months 0.3750 0.2500 3-months 0.4375 0.3125 Overnight mode: 0.12 US$ Offer Bid 7 days 0.18 0.08 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
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  • PROPERTY
    • Article, Illustration
      Lock icon UK buy-to-let investors warned of mayhem
      1115 36 Repossessions of private-landlord homes feared if BOE hikes interest rates Bloomberg [LONDON] Shahram Kordestani, who owns seven UK rental homes, has advice for investors eager to join the swelling ranks of landlords: Do so at your peril. Mr Kordestani, who has been renting homes
      Bloomberg; PHOTO: BLOOMBERG  -  1,115 words
    • Article
      Lock icon Househunt
      1550 36 PROPERTY TRANSACTIONS FOR DISTRICTS 1 TO 28 WITH CONTRACT DATES BETWEEN JUNE 4 AND JUNE 10, 2014 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED The Clift Apt 06/06/2014 99 818 1580 1931 District 3 NON-LANDED Alex
      1,550 words
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      Lock icon Sydney set for biggest hotel boom since 2000
      1474 37 Demand soaring and city to have 20% more rooms by end of this decade Bloomberg [SYDNEY] Fourteen years after the last major hotel opened in Sydney’s centre, 42 developers are competing to turn a pair of centu-ry-old government office buildings into accommodations
      Bloomberg; PHOTO: BLOOMBERG  -  1,474 words
    • Article, Illustration
      Lock icon Spring Grove up for en bloc sale at $1.39b
      810 38  -  Analysts not optimistic, given several recent failed billion-dollar sales BY LEE MEIXIAN |eemx@sph.com.sg @LeeMei><ianBT SPRING Grove condominium in the prime Grange Road area has officially been launched for sale by tender with an asking price of more than $1.39 billion. If
      810 words
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      Lock icon China’s June home sales up 33% on price cuts
      427 38 Bloomberg [SHANGHAI] China’s home sales rose 33 per cent in June from the previous month as price cuts by developers lured buyers. The value of homes sold climbed to 591.2 billion yuan (S$118.3 billion) last month from 446.1 billion yuan in
      Bloomberg; PHOTO: REUTERS  -  427 words
    • Article
      Lock icon Dublin suburb site offered for sale at 220m euros
      335 38 162ha site is part of larger land parcel in fast-track zone Bloomberg [LONDON] A site for a new suburb of Dublin was offered for sale with an asking price of more than 220 million euros (S$369.7 million). The completed project will
      Bloomberg  -  335 words
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      Lock icon China trust funds slash loans to developers
      808 39 This closes off a crucial funding avenue just as the housing market cools; may spell trouble for sector, broader economy Reuters [HONG KONG] China’s shadow banking firms slashed lending to property developers in the first half of this year, closing off a crucial
      Reuters; PHOTO: REUTERS  -  808 words
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      294 38 For Lease MND COMPLEX TOWER BLOCK Unit sizes from 2,723sqft. Typical floor plate of approx. 13,272sqft. 51 CUPPAGE ROAD (formerly known as StarHub Centre) Unit sizes from 452sqft to 23,724sqfL EFG BANK BUILDING Office space of approx. 3.300sqft for sublet. Partially fitted with workstations. AZ PAYA LEBAR Ground floor units.
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      21 38 S'pore and SIP to collaborate on "Smart City Twinning"initiative "Smart City Twinning" I To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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      157 39 SEEKING EXPRESSION OF INTEREST TO PURCHASE PRIME FREEHOLD STRATA OFFICE RETAIL UNITS ORCHARD TOWERS WITH VARIOUS SIZES ON VARIOUS FLOORS REASONABLE PRICE FROM MOTIVATED SELLERS We deal with the following types of assets: 3 4 Star Hotels Office Commercial Buildings Within CBD Boutique Budget Hotels Commercial Shophouses F&B Outlets Within
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