The Business Times, 12 August 2014

Lock icon This issue may only be viewed from the multimedia stations at NLB Libraries. See FAQ for more information.

Total Pages: 28
1 28 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SCCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 051/08/2014 Tuesday, August 12, 2014
    25 words
  • 832 1  -  But Indian law requirements mean Vistara is ‘unlikely to add to SIA’s bottomline soon’ By MICHELLE QUAH michquah@sph.com.sg @MichelleQuahBT [SINGAPORE] A new airline jointly run by Singapore Airlines (SIA) and India’s Tata Group and headquartered in Delhi is expected to start operations in
    832 words
  • MARKETS DIGEST
    • 65 1 GST INDEX 3,306.45 (+17.56) GST INDEX FUTURES 3,285.00 (+18.00) GSIMSCI 377.20 (+2.19) GSIMSCI FUTURES 375.50 (+3.20) US$ S$ US$ (S$ per US$) 1.249 (US$/S$ per 1.679 2.098 EURO (US$/S$/€ 1.340 1.673 Foreign currency per US$ S$ YEN 102.10 81.70 RM 3.195 2.558 HK$ 7.751 6.205 BAHT 32.12 25.71 RUPIAH
      65 words
    • 48 1 Monday Change KL COMP 1,849.32 +9.45 NIKKEI 225 15,130.52 +352.15 HANG SENG 24,646.02 +314.61 SET INDEX Closed JAKARTA COMP 5,113.24 +59.48 MANILA COMP 6,956.66 +76.32 SEOUL COMP 2,039.37 +8.27 SHENZHEN B 943.15 +5.32 MUMBAI IND 25,519.24 +190.10 12 noon EDT Change DOW 16,607.04 +53.11 NASDAQ 4,412.17 +41.27
      48 words
    • 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
      22 words
  • 673 1  -  By ANTHONY ROWLEY in Tokyo EASY monetary conditions have had a global impact since the US Federal Reserve and other leading central banks adopted quantita-tive-easing policies, but this must not be taken as the “new normal” state of affairs, Monetary Authority of
    673 words
  • Page 1 Advertisements
    • 133 1 BUILDING A NATION: TOMORROW Where people take precedence PAGE 28 EMERGING ENTERPRISE Solving the car conundrum with iCarsclub app PAGE 11 COMPANIES Strong operational profits at Frasers Centrepoint PAGE 5 FINANCE Little risk of home loans hitting local banks: Maybank PAGE 4 Ednovation aims for 100 China pre-schools SME Inc
      133 words

  • TOP STORIES
    • 868 2  -  It’s getting closer to other BRICS nations to be independent of America, Europe By NEIL BEHRMANN in London RUSSIA has built up substantial gold reserves which can be used to counter sanctions. In the past 10 years, gold reserves of the Bank
      PHOTO: BLOOMBERG  -  868 words
    • 491 2 SIA-Tata airline to take flight in Oct A NEW airline jointly run by Singapore Airlines and India’s Tata Group and headquartered in Delhi is expected to start operations in October. FRONT PAGE Easy money cannot be new norm, says MAS MD EASY monetary conditions have had a global
      491 words
    • 450 2  -  By S JAYASANKARAN in Kuala Lumpur GROWTH in industrial production in June hit an 11-month high, indicating that Malaysia’s expansion of gross domestic production (GDP) in the second quarter to be released later this week will remain robust. Barclays Bank thought so anyway. “The
      450 words
    • 813 2  -  CITY HARVEST CHURCH TRIAL By CLAIRE HUANG huangjy@sph.com.sg [SINGAPORE] The founder of City Harvest Church, Kong Hee, took to the stand yesterday in his own defence, saying that he trusted and always sought professional advice from the church’s former lawyer and
      PHOTO: KUA CHEE SIONG/THE STRAITS TIMES  -  813 words
    • 473 4  -  Resale prices fall to 21-month low, SRX data shows B)’ ll=|=IIA|=l}I{7Ml |eemx@sph.com.sg @LeeMei><ianBT [SINGAPORE] Resale volume in the private residential market remained flat last month, even as resale prices fell to a 21-month low, data released yesterday by the Singapore Real Estate Exchange (SRX)
      Source: SRX  -  473 words
    • 560 4 Reuters [ZURICH] Royal Bank of Scotland has confirmed that it is considering selling the international arm of its private bank, a deal one source said could net it as much as US$1 billion, as the British government leans on it to
      Reuters; PHOTO: REUTERS  -  560 words
    • 396 4  -  Report comes amid sharp rise in housing non-performing loans at UOB in Q2 By JAMIE LEE leejamie@sph.com.sg @JamieLeeBT [SINGAPORE] Unlike the fabled three little pigs, the trio of local banks appear to have built houses of steel. The chance of
      Source: MAS, URA  -  396 words
    • 481 4  -  By JAN LEE janlee@sph.com.sg [SINGAPORE] Global food delivery platform Foodpanda, along with its affiliated brands hellofood and Delivery Club, announced a fresh financing of US$60 million, bringing its total funds raised to over US$100 million since its inception in 2012. It previously secured US$28
      FILE PHOTO  -  481 words
    • 539 4 Bloomberg [CHICAGO] Houston billionaire Richard Kinder is consolidating his pipeline empire to strengthen it for growth as the US shale drilling boom opens up US$1.5 trillion in potential purchases and expansion projects. Kinder Morgan plans to acquire all of Kinder Morgan
      Bloomberg  -  539 words
  • Page 2 Advertisements
    • 39 2 cassina.com La 1 SJJi a j m ■■e Design first. “LC4" by Le Corbusier, Jeanneret, Perriand and Cassina. p A M 456 River Valley Road Singapore 248 342 L» r\ C, I v I Tel, +65 6235 0220 www.dream.com.sg
      39 words

  • Page 3 Advertisements
    • 220 3 7 A t y y i H y sr A V y s 4 I M <:><>< < <><<='S< < f ><2 m% A i < -r liimn < <y n A TEST DRIVE IS ALL IT TAKES TO TURN DRIVERS INTO FANS. LEXUS RX. THE DEFINITIVE LUXURY SUV The
      220 words


  • COMPANY NEWS
    • 664 5  -  But Q3 net profit slumps on lower fair value gains, higher exceptional loss By LYNETTE KHOO lynkhoo@sph.com.sg @LynetteKhooBT FRASERS Centrepoint Limited (FCL) is still looking to replenish its landbank in Singapore selectively, even as it develops its key overseas markets of Australia and China.
      664 words
    • 313 5  -  By MINDY TAN tanmindy@sph.com.sg @MindyTanBT VEHICLE inspecting and testing services provider Vicom has reported net profit for the second quarter ended June of S$7.23 million, up 5.5 per cent from S$6.85 million a year ago. This was on the back of revenue
      313 words
    • 562 5  -  It posts solid rental income from investment properties By KALPANA RASHIWALA kalpana@sph.com.sg @KalpanaBT HO BEE Land’s secondquarter net profit dived 53.5 per cent year-on-year to S$12.20 million. But behind the headline numbers, its transformation into a group with a
      BT FILE PHOTO  -  562 words
    • 578 8  -  Weak currencies in South-east Asia markets also hit revenue By MICHELLE QUAH michquah@sph.com.sg @MichelleQuahBT INSTANT beverage maker Super Group suffered a hit to its earnings for the June quarter, no thanks to weaker demand for its products in certain South-east Asian
      578 words
    • 359 8  -  By NISHA RAMCHANDANI nishar@sph.com.sg @Nisha_BT LIFTED by higher sales, electronics components distributor Serial System’s net profit for the second quarter ended June 30, 2014, surged 36 per cent year on year to US$5.01 million. Revenue climbed 28 per cent to US$262.92 million, boosted partly
      359 words
    • 529 8  -  By JAMIE LEE, NISHA RAMCHANDANI leejamie@sph.com.sg @JamieLeeBT nishar@sph.com.sg @Nisha_BT GOLD mining company CNMC Goldmine Holdings is optimistic about growth in the coming quarters, as it has recognised further production from its third leaching yard that began operations only 21/2 months ago, its senior
      529 words
    • COMPANY BRIEFS
      • 68 10 SINO Construction yesterday posted a profit warning for the second quarter ended June 30. It expects to report a “marginal net loss” mostly due to administrative expenses that has been incurred as part of its restructuring process. However, it expects to still turn a profit
        68 words
      • 83 10 RETAILER Dairy Farm yesterday announced that it will spend 5.69 billion yuan to acquire a 19.99 per cent stake in Yonghui Superstore, by way of subscription of new shares. The latter operates 288 hypermarkets and supermarkets in 17 provinces across China and
        83 words
      • 61 10 SINGAPORE Press Holdings announced the appointment of Chua Boon Ping as the CEO for its S$100 million SPH New Media Fund yesterday. Mr Chua, 43, was previously a senior vice-president at EDB Investments before joining SPH. The fund will be used to
        61 words
    • 372 10  -  Interim dividend, payable Aug 27, drops to 1.25¢ from 1.5¢ a year ago By CARINE LEE carinel@sph.com.sg @CarineLeeBT CSE Global yesterday said its net profit attributable to owners of the company fell 35.5 per cent year on year to S$8.03 million for the second quarter
      372 words
    • 278 10 Bloomberg [SINGAPORE] OSIM International Ltd, Asia’s largest maker of massage chairs, said that it’s in talks to expand its international franchise with stores in Turkey and Russia. OSIM’s chief executive officer Ron Sim said that he hopes to reach a deal
      Bloomberg  -  278 words
    • 283 10 Reported on Aug 11,2014 REVENUE NET PROFIT Y-O-Y PROFIT CHNG EPS DPS/ DPU LAST TRADED PRICE COMPANY REPORTING PERIOD Hong Leong Finance Q2 S$62.7m* S$14.1m (19.2) 12.69¢ 4¢ S$2.78 Expects to benefit from the expected uptrend in interest rates despite current low spreads. Sees non-lending fee income improving
      283 words
  • Page 5 Advertisements
    • 171 5 ST Se Sh S3 I STPROPERTY INVEST REBATE RM8,888 to first 8 property purchasers iii? Raffles City Convention Centre, Stamford Ballroom Level 4 Sunday, 31 August 2014 I 8.30am 5.00pm SEMINAR TOPICS SPEAKERS a Private Residential Market in 2H2014 to 2015 Is further price cut expected? Alan Cheong Senior Director
      171 words
    • 272 5 "Winners Don't Do Different Things, They Do Things Differently."® m Author of International 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 and
      272 words

  • SINGAPORE MARKETS
    • 581 6  -  Easing Ukraine tensions help lower pressure on stocks STOCKS R SIVANITHY sivan@sph.com.sg @RSivanithyBT Senior Correspondent FRIDAY’S bounce on Wall Street brought some relief to the local stock market yesterday, with the Straits Times Index hopping 17.56 points up to 3,306.45 this after it
      Source: Bloomberg  -  581 words
    • 77 6 Aug 11 VALUE CLOSE BT OB/OS -1050.00 +118.00 BT CADI -*****.00 +113.00 BT 10-day MA -*****.00 -105.00 FTSE ST Mid Cap 767.02 +2.22 FTSE ST Small Cap 550.34 +4.90 FTSE ST All Share 803.13 +4.15 FTSE ST China Top 196.31 +1.63 FTSE ST China 226.37 +1.87 FTSE
      77 words
    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 9 2 3 0 0 0 9 2 3 Manufacturing 54 42 48 9 11 7 63 53 55 Commerce 27 17 19 6 1 7 33 18 26 Tpt/Stor/Comms 19 13 9
      186 words
    • 800 6  -  Compiled by JAMIE LEE Fraser Neave Aug 11 close: S$2.97 CIMB Research, Aug 10 THIRD-QUARTER net profit beat expectations as sales and margins were higher than expected. The deviation was due to better-than-ex-pected sales and margins from the beer business, lower input costs, and strong performance of Dairies
      Source: Bloomberg  -  800 words
    • 121 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 13,535 13,535 35,630 35,630 Manufacturing 267,550 130,569 398,119 105,595 6,161 111,756 Commerce 68,218 38,960 107,178 36,451 2,781 39,232 Tpt/Stor/Comms 95,228 772 96,000 117,131 99 117,230 Finance 16,478 240 16,718 160,431 52 160,483 Construction 36,976 54,385
      121 words
    • 124 6 Stock name Close Change Ascendas Reit 2.310 +0.020 CapitaLand 3.360 +0.010 CapitaMall Trust 1.965 +0.005 CityDev 9.950 -0.060 ComfortDelGro 2.560 -0.040 DBS Grp 17.960 +0.150 Genting Sing 1.285 +0.010 Global Logistic 2.750 +0.030 Golden Agri-Res 0.525 -0.005 HPH Trust USD 0.680 +0.005 HongkongLand USD 6.890 +0.080
      124 words
    • 540 6 CURRENCIES Reuters [LONDON] The Norwegian krone hit a seven-week high against the euro yesterday after Norway reported consumer inflation unexpectedly jumped in July, making it less likely the central bank will cut interest rates. That took the focus away from a risk-on move
      Reuters; PHOTO: BLOOMBERG  -  540 words
    • 61 6 VOLUME Mirach Energy 98,840,000 APAC Strategic 87,266,000 Sing eDev W*****0 67,441,000 IHC 61,833,000 OLS R 60,359,000 Equation 59,789,000 Memstar Tech 44,847,000 SIIC Environment 44,369,000 Singapore eDev 37,520,000 Artivision Tech 35,834,000 VALUE($) DBS Grp 72,786,632 SingTel 50,000,640 OCBC Bank 49,719,470 Global Logistic 34,217,050 UOB 30,415,410 CapitaLand 25,129,910 Mirach
      61 words
    • 115 6 BY CENTS CLOSE UP SPDR DJIA 10US$ ***** 332.2 1.6 Lyxor Indonesia10US$ 9423 238.6 2.1 DBXT iBoxxKR 5US$ ***** 208.6 1.1 SPDRS S&P 500 10US$ ***** 197.3 0.8 DBXT Nifty 10US$ ***** 173.6 1.1 DBXT MSJAP 10US$ 4667 102.4 1.8 DBXT MSUSA 10US$ 4864 99.9 1.7 DBXT MSKorea 10US$
      115 words
    • 132 6 BY CENTS CLOSE DOWN DBXT iBoxxUSTr 5US$ ***** -129.9 -0.5 GLD 10US$ ***** -102.4 -0.6 DBXT AUD Bonds 5AU$ ***** -55.6 -0.2 DBXT S&P Short 10US$ 2424 -40.0 -1.3 DBXT DBLCI-OY 5US$ 3342 -22.5 -0.5 DBXT FTVietnam 10US$ 2817 -21.2 -0.6 DBXT DBCBLEB 10US$ 1799 -20.0 -0.9 DBXT DBCBDJUBS
      132 words
    • 4 6 DAILY
      4 words

  • Page 7 Advertisements
    • 1032 7 INITIAL PUBLIC OFFERING V' •V W rs n A I JAFFA m <35l mi -3 m V FE&3 rg r-~ 1 .iGEmMz r JJ J’ PAKAN KUAII7AS PHIMA ?E0 BE5X Q ,v (ggigafe ;E> RUMBLE PAKANIKAN PPI CT knuMft OOCCOKCUi >. i r 18 v a ET T_-\ lele f"
      1,032 words

  • Page 8 Advertisements
    • 207 8 DATE GUESTS-OF-HONOUR 26AUG MR K.SHANMUGAM (MINISTER) ARRIVING FROM MINISTRY OF FOREIGN AFFAIRS AND 26AUG MR TEO SER LUCK (MINISTER OF STATE DISTINGUISHED SPEAKERS 26AUG MR HITOSHI ITO |(|C 0 M M I S S I 0 N E rTT 26AUG MR BRIAN HINMAN 27AUG MR TAN MIN-LIANG FOUNDS mW 27AUG
      207 words
    • 72 8 klSS92 FM place one songs great the All m z 5f Ki Z IN THE MORNING WEEKDAYS 6AM-10AM-D facebook.com/kiss92fm J#-(a)kiss92fm www.kiss92.sg HOT PROPERTY 4 -5M neg. No gst. nant s sra: ozr rice v 4 Book now| 43, 6,4sf avail SHOP SPACE FOR SALE Check this and many other properties
      72 words

  • Page 9 Advertisements
    • 552 9 CORPORATE PARK® MEDINI ISKANDAR MALAYSIA ON THE CUSP OF GREATNESS i ig j U- !l i i j 1 i .jia si »u' I J.I J I J Ill J* 'll I ii*cr 5 >« 1 1,111 rn "-,i 5 Wai •‘S 1 HBEwMSH “i I i .j i, i-
      552 words

  • Page 10 Advertisements
    • 830 10 RB KNOW HOW YOU CAN EXIT WITH 100% CERTAINTY GLOBAL HOLDINGS Profit with 100% Certainty >*- 0*9* W{& 0 *9* 0*9* r r H- .1 e' v U 0*9* 9‘< t V D 0*** r 0*** u -r 0*9* i*P ?*Z IB** 4 2 I;:« r sx~:s sssSE—s us i»
      830 words

  • SINGAPORE NEWS
    • 467 11  -  He will help business community, SMEs especially, to prioritise concerns By KELLY TAY kellytay@sph.com.sg @KellyTayBT SINGAPORE’S business community has a new advocate in Parliament. Veteran business leader Thomas Chua Kee Seng has been chosen as one of nine Nominated Members of Parliament (NMPs),
      467 words
    • 286 11  -  By NISHA RAMCHANDANI nishar@sph.coms.sg @Nisha_BT SINGAPORE’S consumer watchdog Case and the Singapore Renovation Contractors and Material Suppliers Association (RCMA) have joined hands to come up with an accreditation scheme for renovation contractors. When homeowners engage contractors accredited by Ca-seTrust-RCMA CaseTrust is Case’s accreditation arm they
      286 words
    • 950 11  -  Car-sharing app iCarsclub gains first-mover advantage in China.JACQUELYN CHEOKreports China.JACQUELYN CHEOKreports IF nearly every successful tech company started out by solving a problem Mark Zuckerberg was an introvert and founded Facebook to get to know more girls at Harvard University; Larry Page and Sergey Brin wanted
      PHOTO: YEN MENG JIIN  -  950 words
    • 304 11  -  By CAI YONG caiyong@sph.com.sg CHOPE, a Singapore-based company that provides restaurant reservation services, is teaming up with Ringier China to increase its presence in mainland China. Ringier China, the China arm of Swiss company Ringier Media, owns City Weekend, an online lifestyle guide.
      304 words
  • Page 11 Advertisements
    • 85 11 This profile is the fifth of a series of features on the 16 finalists of the Emerging Enterprise Award 2014. Jointly presented by The Business Times and OCBC Bank, the Emerging Enterprise Award 2014 recognises promising enterprises and startups which are up to 10 years old and have an annual
      85 words

  • SME Inc
    • 891 12  -  The growth engine behind its ambitious pre-school plan is its EdnoLand e-curriculum, reports MINDY TAN tanmindy@sph.com.sg @MindyTanBT WITH a chain of 18 ChildFirst pre-schools under its belt and 20 more in the pipeline, Ednovation is aggressively expanding its market share in China, even as
      PHOTO: YEN MENG JIIN  -  891 words
    • 951 12  -  VIEW FROM AN NTU PROFESSOR By EL’FRED BOO The writer is an associate professor of accounting at NTU’s Nanyang Business School. Risk appetite is a concept not well understood and thus poorly integrated into the strategic planning and daily operations of organisations.
      951 words
  • Page 12 Advertisements
    • 90 12 Work smart for just S$58, wherever you are in Singapore business lounge m vi Introducing the first Regus Express business lounges in Asia; the perfect way to stay productive on the move. Drop in to one of our stylish lounges and work on the go in our professional working environment,
      90 words

  • Page 13 Advertisements
    • 1656 13 ADVERTORIAL Getting healthy for long-term growth By using the Business Excellence framework, Asia Polyurethane Manufacturing is now in a better position to weather tough times as well as to capitalise on opportunities, says its chief executive One of the key benefits of the BE framework is that it standardises processes
      1,656 words

  • MALAYSIA/INDONESIA
    • 496 14 Ban on unprocessed ore exports aimed at forcing miners to build smelters Reu ters [JAKARTA] Indonesia has no plans to wind back a sev-en-month-old ban on exports of unprocessed nickel ore and bauxite that has led to billions of dollars in planned
      Reuters; PHOTO: AFP  -  496 words
    • 695 14 Firm amends terms of US$375m bond exchange offer Bloomberg [JAKARTA] PT Bumi Resources, Asia’s most indebted coal miner, amended the terms of a US$375 million bond exchange offer a second time in a bid to avoid default. The Jakarta-based coal mining company sent
      Bloomberg  -  695 words
    • 339 14 [KUALA LUMPUR] Loss-making container shipping firm PDZ Holdings Bhd is confident of returning to the black in the financial year ending June 30, 2015, backed by its new strategic plans, Malaysia’s Business Times reported. Newly-appointed managing director Nazim Rahman said
      339 words
    • 311 14 Bloomberg [JAKARTA] Indonesia may consider cutting public stakes in banks and imposing lending quotas in an effort to channel more credit to industrial companies, as policymakers prepare reform proposals for incoming President Joko Widodo. Financial regulators and economic officials from the current
      Bloomberg  -  311 words
  • Page 14 Advertisements
    • 1510 14 The Business Times NOTICES Toll free 1800-289-8822 Email noticesiSsph.com.sg www.sphclass.com.sg/notices LOYZ ENERGY LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****5693M) NOTICE OF EXTRAORDINARY GENERAL MEETING Unless otherwise defined, all capitalised terms used herein shall bear the same meanings as used in the circular dated 12 August 2014
      1,510 words

  • CHINA/INDIA
    • 707 15 Arun Jaitley: ‘I am sure (Reserve Bank) factors in various circumstances’ Bloomberg [NEW DELHI] Indian Finance Minister Arun Jaitley backed the central bank’s moves to keep interest rates elevated to fight the highest inflation among Asia’s biggest economies as a weak monsoon threatens growth.
      Bloomberg  -  707 words
    • 553 15 Reuters [BEIJING] More than 150 economic fugitives, many of whom are corrupt officials or suspected of graft in China, are at large in the United States, Chinese state media said yesterday, citing a senior official from the public security
      Reuters  -  553 words
    • 835 15 Several big foreign firms have already been investigated Reu ters [BEIJING] In the early afternoon of Monday, Aug 4, 10 men in suits and casual business wear barged into a busy office at Mer-cedes-Benz’s east China sales office, near Shanghai’s
      Reuters; PHOTO: AFP  -  835 words
  • Page 15 Advertisements
    • 927 15 THE BUSINESS TIMES Ik 1 1 Toll free 1800-289-8822 I fl I Email notices@sph.com.sg I V i j L J www.sphclass.com.sg/notices UNITED OVERSEAS BANK LIMITED Company Registration No. *****0026Z (Incorporated in the Republic of Singapore) LOST SHARE CERTIFICATE Notice is hereby given that the following share certificate has been reported
      927 words
    • 410 15 Taptt Asian Pay Television Trust (Registration Number *****05) (a business trust registered under the Business Trusts Act, Chapter 31A of Singapore) NOTICE OF BOOKS CLOSURE AND PAYMENT DATE FOR THE DISTRIBUTION FOR THE PERIOD FROM 1 JANUARY 2014 TO 30 JUNE 2014 NOTICE IS HEREBY GIVEN that the Transfer Books
      410 words

  • WORLD
    • 997 16 Balance of power shifting slowly towards employees from employers Bloomberg [WASHINGTON] The balance of power in the job market is shifting slowly towards employees from employers. Bob Funk sees it firsthand from his position as chief executive officer of staffing agency Express Employment Professionals.
      Bloomberg; PHOTO: BLOOMBERG  -  997 words
    • 398 16 Re uters [NEW YORK] Amazon.com Inc has halted pre-orders of some Disney movies, the Wall Street Journal reported, in what appears to be another contract dispute after the online retailer began a protracted spat with publisher Hachette Book Group this year. Physical copies
      Reuters  -  398 words
    • 312 16 This comes as Libor, forex probes become increasingly international: law firm study Bloomb erg [LONDON] Britain’s financial markets regulator saw requests for assistance from agencies around the world jump 14 per cent last year as investigations are increasingly global, according to a law
      Bloomberg  -  312 words
    • 488 16 But other reports say salaries are set to rise at a faster pace Re uters [LONDON] British employers expect wage growth to remain weak, according to a survey of personnel managers that contrasted with other reports that salaries are set to rise at
      Reuters  -  488 words
    • 275 16 Bloomberg [LONDON] Firms in London’s main financial district, known as the City, awarded new hires with an average pay increase of 20 per cent in July as companies added employees in product control and information technology, a survey showed.
      Bloomberg  -  275 words
    • 529 17 Bloomberg Reu ters [ISTANBUL] Turkish stocks fell yesterday, heading for their lowest close in more than a month, as Prime Minister Recep Tayyip Erdogan became the country’s first directly elected president. The lira fell against the US dollar. The victory consolidates the
      Bloomberg; Reuters; PHOTO: AFP  -  529 words
    • 564 17 AFP [ANKARA] Recep Tayyip Erdogan climbed from a humble youth in Istanbul to become one of the most significant but controversial leaders in the Islamic world. Mr Erdogan, who has served as premier since 2003, is lauded by his supporters as a transformative
      AFP; PHOTO: REUTERS  -  564 words
    • 927 17 Orders drying up as Russian customers put off purchases Bloomberg [MUNICH] MWL Apparate Bau GmbH, based in the eastern German town of Grimma, has relied on strong ties with Russia to bolster business. Today, those links don’t mean much. The maker of equipment
      Bloomberg  -  927 words
    • 876 17 It underperforms Spain, which grew 0.6% in same period Bloomberg [FRANKFURT] Germany probably underperformed Spain in the last quarter for the first time in more than five years as the euro-area recovery almost ground to a halt. After leading the currency bloc out of
      Bloomberg  -  876 words
    • 199 17 Reu ters [LONDON] The former chief executive of the Financial Times, Rona Fairhead, and the former deputy governor of the Bank of England, Howard Davies, are contesting to be Barclays plc’s next chairman, the Sunday Times reported, citing sources. Ms Fairhead, who
      Reuters  -  199 words
    • 523 18 New rules will likely affect 90% of the US$710 trillion derivatives market IFR [LONDON] The way the world’s largest banks use derivatives is set for drastic change after the US Federal Reserve and Federal Deposit Insurance Corp moved to strip financial counterparties
      IFR  -  523 words
    • 708 18 Reuters [SYDNEY] Two global private equity giants are set to face off in a battle for Australia’s Treasury Wine Estates after TPG Capital Management matched a $3.1 billion move from KKR Co for one of the world’s biggest wine makers. A week after
      Reuters; PHOTO: REUTERS  -  708 words
    • 712 18 Bloomberg [LONDON] Banco Espirito Santo SA’s fall from grace is having one unintended consequence in Portugal’s equity market it’s reducing the disproportionate influence of banks on the benchmark index. The PSI 20 Index was compiled yesterday without Banco Espirito Santo for the
      Bloomberg; PHOTO: REUTERS  -  712 words
    • 352 18 AFP [PARIS] Leading economies are showing a steady growth trend overall, although Britain is doing particularly well and Japan and Germany are showing signs of losing pace, the OECD said on Monday. The eurozone as a whole, and France, are on a stable growth
      AFP  -  352 words
    • 577 18 Bloomberg [GENEVA] Sanofi agreed to pay MannKind Corp as much as US$925 million for global rights to the world’s only available inhaled insulin less than seven weeks after the drug won regulatory approval in the US. Sanofi will pay US$150 million
      Bloomberg  -  577 words
    • 304 18 Bloomberg [LONDON] Hedge funds cut bullish bets on Brent crude to the lowest level in six months last week, another signal that traders expect supplies from Iraq to remain safe from an Islamist insurgency in the north of the OPEC member. Brent
      Bloomberg  -  304 words

  • Page 17 Advertisements
    • 452 17 The Business Times NOTICES IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF DERIFICO PTE. LIMITED Company Registration No. *****6474N (Members’ Voluntary Liquidation) At an Extraordinary General Meeting of the member of DERIFICO PTE. LIMITED deemed to have been held on 8 August 2014, the
      452 words


  • AVIATION/SHIPPING
    • 1044 19 Ailing airlines are trying to unlock value from FFPs which may help keep them afloat Reuters [BERLIN] Beset by low air fares and relentless competition, airlines around the world are waking up to the value of their frequent flyer programmes and realising that
      Reuters  -  1,044 words
    • 615 19 Central bank’s bond-buying pushes down funding costs for firm Bloomberg [TOKYO] The Bank of Japan’s unprecedented stimulus has helped Mitsui OSK Lines overcome a junk rating threat as bond investors held onto the notes of the world’s largest merchant shipping line. The extra
      Bloomberg  -  615 words
    • 835 19 Bloomberg [SHANGHAI] Shen Zhihong had arrived at Shanghai’s Pudong International Airport looking forward to a beach vacation, only to find his flight delayed indefinitely and his holiday plans at the mercy of the People’s Liberation Army (PLA). The 64-year-old retired professor was among thousands
      Bloomberg; PHOTO: BLOOMBERG  -  835 words
    • 237 19 SGX '000 Aug 11 S$ +/-Vol Ch Offshore '000 Chuan Hup Hldg 0.29 unch 119 Cosco Corp 0.68 unch 599 Cwt Limited 1.71 0.03 1011 Vol First Ship Lea 0.09 unch 5 Grand Banks unch unch 0 Jaya Hold Ltd K1Ventures................0.20 unch 1069 Keppel Corp 10.84 0.04 1698
      237 words
  • Page 19 Advertisements
  • Page 19 Miscellaneous
    • 304 19 CRYPTIC CROSSWORD Across 1 Sailor needs to be given purpose (6) 4 So, a nicer new storyline (8) 10 Finished with one revolutionary’s compositions (9) 11 Children, a bone of contention (5) 12 Scandal revealed before right time (7) 13 Bid organised (7) 14 Gang, last to leave important railway
      304 words

  • EDITORIAL & OPINION
    • 441 20 EDITORIAL SWEEPING changes to Singapore’s securities trading landscape are coming, following regulators’ decisions to pursue most of the proposals in an earlier consultation. But while collateral requirements for contra trading, independent rules committees and minimum share prices will help to diffuse the
      441 words
    • 804 20  -  THE BOTTOM LINE PAUL KRUGMAN NYT FOR more than three decades, almost everyone who matters in American politics has agreed that higher taxes on the rich and increased aid to the poor have hurt economic growth. Liberals have generally viewed this as a trade-off worth
      NYT  -  804 words
    • 1108 20  -  Dealing with the weather, users and ageing infrastructure are among the core challenges By ANGEL GURRIA The writer is OECD Secretary-General and former Minister of Finance, Mexico CITIES in the Organisation for Economic Co-operation and Development (OECD) countries generally have a
      PHOTO: REUTERS  -  1,108 words
    • 1128 21  -  The industry is finally recycling capital needed for healthy long-term growth By SUVIR VARMA JOHANNE DESSARD The writers are, respectively, a Bain Co partner who leads the firm’s Asia-Pacific Private Equity practice and a practice-area manager on the Private Equity practice FTER a
      PHOTO: BLOOMBERG  -  1,128 words
    • 825 21  -  By CHARLES M BLOW NYT AMERICANS, it must be admitted, are not always the most engaged people on world issues. It’s a sad truth. But the world, at this moment, is aflame, and more US citizens must perk up and pay attention. Before we
      NYT  -  825 words
    • 831 21  -  By DANIEL GROS The writer is director of the Center for European Policy Studies THE European Union has finally agreed on its “third-level sanctions” against Russia for its actions in Ukraine. Arriving at this point has been the usual long and difficult
      831 words
    • 418 21 LETTER TO THE EDITOR WHILE one can agree with Minister for National Development Khaw Boon Wan that it is too early to relax Singapore’s property cooling measures (“Premature to lift property cooling measures, says Khaw Boon Wan”, BT, Aug 5), some fine-tuning to
      418 words

  • Page 21 Advertisements
    • 103 21 HAVE YOUR SAY Fax your letters to 6319-8277 or e-mail them to btletter@sph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel
      103 words

  • 1200 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
    1,200 words
  • Page 22 Advertisements
    • 81 22 Experienced ship maintenance findyou y r I services services wanted, heremthe Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 The Business Times I IIL UUJIIVLJJ I IIVILJ Shipping Times Legal services required by shippers owners TO ADVERTISE, CALL JOE WONG AT 9620 Can they find your services here
      81 words

  • SINGAPORE STOCKS
    • 4102 23 Transaction date: Aug 11 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 13.3 10.4 8Telecom Last Sale Vol Day Last Quote --AAT Div Gr Yld C'vr Net 153.1 130.4 AIMSAMP Cap Reit
      4,102 words
    • 472 24 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 32.5 23 t 3Cnergy 500 Vol Day Last Quote Div Gr Yld Net M Cap 43.5 28 t Alliance Mineral 29.5 -1 882 30.5
      472 words
    • 10749 24 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** APS Alpha Aberdeen Asset Mgt Asia Limited 1.59/ APS Alpha Fund (USD)!* 1.27/ Aberdeen Asset Mat Asia Limited ....0.9737/ China Opportunities USD!** Global Emerging Markets USD Global Opportunities USD India Opportunities USD!** 2 0689/ Indonesia
      10,749 words
    • 235 24 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Last 343 250 TanChongInt HK318 unch 147 318 317 318 320 9.7 3.3 3.1 6404.2 DISCLAIMER: All information is published “as is” without warranty of any kind
      235 words
    • 1134 24 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 118 108.3 ABF SG Bond ETF 116.3 +0.1 10 116.3 116.2 116.2 116.3 530.9 135.5 119 CIMB APAC Div 100S$D 134 +0.9 134 134 132.8 135.4
      1,134 words


  • FINANCE & COMMODITIES
    • 664 25 Aug 11 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.64 *****.54 *****.71 Sep14 *****.00 *****.00 *****.00 *****.00 *****3 *****8 Dec14 *****.00 *****.00 *****.00 *****.00 12 ***** MSCI TAIWAN INDEX FUTURES SPOT 328.75 332.67 328.75 Aug14 327.80 330.50 327.00 329.80 ***** *****7 Sep14 327.40
      664 words
    • 373 25 In local curr In S$ In US$ dy yr dy yr dy yr Aug 8 Index Change Change Change Change Change Change World Preliminary 1202.1 -0.1 1.5 -0.1 0.4 -0.1 1.4 EAFE Preliminary 933.5 -0.9 -2.4 -0.7 -3.3 -0.7 -2.4 Europe Preliminary 1326.9 -0.4 -2.1
      373 words
    • 471 25 Aug 11 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.018 5.709 0.693 7.191 56.752 108.374 0.947 9.555 2.964 1.095 91.782 40.715 1.159 9.906 0.840 27.855 29.798 0.552 0.928 Canada 0.982 5.609
      471 words
    • 35 25 Aug 11 (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 Source: Thomson Reuters
      35 words
    • 74 25 Aug 11 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 1-Year BY*****S 02-May-15 0.33 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0W 1.125 01-Apr-16 101.13 5-Year NX*****W 2.5 01-Jun-19 105.76 10-Year NY*****H 3.000 01-Sep-24 105.63 105.86 105.70 15-Year
      74 words
    • 122 25 Aug 11 GOLD(US$/oz) Aug 11 Aug 08 Hong Kong 1310.00 1321.00 Aug 08 Aug 07 London 1311.00 1306.94 1311.65 1307.65 Source: Thomson Reuters Source: Reuters CAST BAR Aug 11 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 79 50 5gm 314 260 10gm
      122 words
    • 57 25 Aug 11 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 14 2280.0 2230.0 2280.0 2244.0 109 1038 Sep 14 2264.0 2202.0 2264.0 2198.0 1709 ***** Oct 14 2237.0 2177.0 2240.0 2174.0 ***** ***** Nov 14 2231.0 2171.0
      57 words
    • 156 25 Aug 11 US$ Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1584 1.1593 0.9275 0.9279 Canadian dollar 1.1380 1.1390 0.9117 0.9112 Euro 1.6729 1.6737 1.3394 1.3396 NZ dollar 1.0578 1.0587 0.8469 0.8474 Sterling pound 2.0972 2.0982 1.6791
      156 words
    • 109 25 Aug 8 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Aug 14 1284.75 1250.00 1285.00 1249.75 Sep 14 1113.75 1099.25 1114.50 1097.50 Nov 14 1084.75 1078.00 1085.00 1071.75 Jan 15 1093.25 1086.50 1093.50 1080.25 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Aug 14
      109 words
    • 95 25 Aug 8 COCOA (£/tonne) Close Prev High Low Sep 14 2027 2027 2036 2019 Dec 14 2004 2005 2015 1995 Mar 15 1966 1962 1972 1955 May 15 1951 1946 1957 1940 COFFEE(US$/tonne) Close Prev High Low Sep 14 1948 1968 1965 1929 Nov 14 1959 1974 1970 1940
      95 words
    • 70 25 CRUDE OIL PRODUCTS Aug 08 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 105.39 0.18 WTI (Near Mth) 97.55 0.02 Dubai (1-Mth F) 104.68 1.82 Tapis blend 108.54 1.97 Minas 104.24 1.97 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 100.44 1.22 Jet Kerosene 118.87 1.18 US$/barrel OpecOil Basket
      70 words
    • 22 25 Aug 11 S$ Bid Offer 1-month 1.2490 1.2494 2-months 1.2490 1.2494 3-months 1.2489 1.2494 6-months 1.2488 1.2492 Source: OCBC
      22 words
    • 65 25 Aug-08 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2019.75 2017.50 3 months 2024.00 2027.00 Copper, Grade A(US$/tonne) Cash 7010.75 7014.50 3 months 6995.00 6999.00 Lead(US$/tonne) Cash 2236.50 2266.50 3 months 2240.00 2265.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months *****.00
      65 words
    • 949 25 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 5 0.3 1 -58 3.89 47 Asia-Pacific Strategic W*****6 Ratio Exer Price Ascendas REIT MB eCW*****3 Disc Asiatic Grp(Hldgs) Ltd W*****5 GearAsiatravel.com HoldingsW*****5 6 1 27 23 Expiry
      949 words
    • 121 25 As at 9am Aug 11 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.187 1.131 Can dollar 1.161 1.117 Euro 1.715 1.634 Sterling pound 2.138 2.056 NZ dollar 1.083 1.042 US dollar 1.275 1.215 Local dollars to 100 units of foreign
      121 words
    • 157 25 Aug 11 $S Offer Bid 0vernight 0.05 0.03 1-month 0.3125 0.1875 2-months 0.3750 0.2500 3-months 0.4375 0.3125 Overnight mode: 0.05 US$ 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
      157 words

  • PROPERTY
    • 985 26 Declining credit and cooling property market may lead to an industry shakeout Bloomberg [SHANGHAI] China’s slumping property market is fuelling speculation the industry is set for a shakeout as small developers face difficulty raising funds to pay off debt. Yield premiums on Chinese real
      Bloomberg; PHOTO: BLOOMBERG  -  985 words
    • 314 26 Bloomberg [LONDON] London house-price growth will slow to about 3 per cent next year as the prospect of higher borrowing costs forces sellers to lower their expectations, Hamptons International said in a report yesterday. The 2015 forecast by the London-based broker
      Bloomberg; PHOTO: BLOOMBERG  -  314 words
    • 533 27 Final rules on new funding channel for cash-strapped developers due soon Bloomberg [NEW DELHI] India approved the setting up and listing of real estate investment trusts (Reits) as the nation seeks to unlock a US$20 billion market. The trusts will have
      Bloomberg  -  533 words
    • 430 27 Some will move to Lincoln House in the eastern district of Quarry Bay [HONG KONG] Royal Bank of Scotland Group Plc, the UK lender scaling back its investment-banking business, is planning to reduce the office space it
      430 words
    • 445 27 It acquires a 57.8% stake in a Mayfair estate for £343m Bloomb erg [OSLO] Norway’s sovereign wealth fund, the world’s largest, bought a stake in an estate in London’s Mayfair district for £343 million (S$720 million), expanding its property holdings in the UK
      Bloomberg  -  445 words
  • Page 26 Advertisements
    • 148 26 KnightFrank.com.sg U Knight Frank A UNIQUE OPPORTUNITY TO CREATE THE FINEST RESIDENTIAL DEVELOPMENT IN THE HEART OF SINGAPORE SPRING GROVE ORCHARD SINGAPORE m 1ft Vi \W\W i a Land area 24,481.2 sq in (approx. 263,513 sq ft) Master Plan 2014 Residential, GPR 2.1 Largest residential plot along Grange Road The
      148 words
    • 178 26 m PRUDENTIAL TOWER Prime CBD Office Floors For Sale! Galven Tan (CEA Reg No.: R*****1F) Tel: 9799 4898 Landmark 30-storey office building Grade-A quality specification Covered access to Raffles Place and Telok Ayer MRT Spacious car drop off point Double-storey height modern lobby Regular layout and column-free floor plate for
      178 words
    • 51 26 For Lease Robinson Point Flexible sizes Fitted /Bare 1,294 sqft/1,594 sqft/2,400 sqft/4,100 sqft/7,556 sqft Great sizes Fitted /Bare 8,288 sqft/16,576 sqft/24,132 sqft/31,688 sqft High floor with unblock view Beautifully fitted/bare units with regular layout Proximity to amenities and ample parking spaces Short distance to four MRT stations Call8338 2466/ 9236
      51 words

  • Page 27 Advertisements
    • 252 27 Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices For Sale Melbourne, Australia Infill Development Site 37–39 Buick Crescent, Mill Park, Victoria, Australia Show Off Your Prize Bull Land parcel of approx 3.986 hectares Zoned General Residential with a Design
      252 words
    • 268 27 lit s eZ Sf o* ,>c 9 I I > 21 it 'EM |J«U nn3 Lj VA .1.1.1 i >1 Ul J i •Mi Nil ■|g 1 n A ;_j ji-» fc- iJJ j Id tm f .LU I K Vi ri U London leasing experts host property seminars Saturday
      268 words

  • BUILDING A NATION: TOMORROW
    • 1745 28  -  What kind of S’pore do we want and what will it look like in the future? MINT KANG reports on a roundtable discussion on these issues KANGreports future?MINT KANGreports WHAT will Singapore look like in the year 2065? After half a century of development, we live
      1,745 words
    • 744 28  -  By TAI LEE SIANG The writer is the group managing director of Ong Ong and an architecture iconoclast who sits on several boards and councils on architecture, design and sustainability WITH a population of 10 million over 700 plus square kilometres, Singapore will probably become
      744 words
  • Page 28 Advertisements
    • 94 28 "IF WE COULD DRINK THE OCEAN WOULDN'T WE HAVE ENOUGH WATER?" At Hitachi, we're inspired by challenging questions. That's why we've taken a different approach to help cities face the growing pressure on their water supply. We're committed to finding integrated solutions that optimise the water resource circulation cycle. Using
      94 words