The Business Times, 23 August 2012

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Total Pages: 32
1 32 The Business Times
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  • Title Section
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    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg Sp!l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E Thursday, August 23, 2012 MICA (P) 074/08/2012
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  • Article, Illustration
    Lock icon AirAsia seeks a home base in Singapore
    788 1  -  Airline applying for air operator’s certificate here to establish itself as a truly pan-Asean carrier group By VEN SREENIVASAN [SINGAPORE] After almost a decade of trying and failing to set up a Singaporebased budget carrier, AirAsia is planning to give it another go.
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  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 HST INDEX 3,049.47 (-16.30) HST INDEX FUTURES 3,047.00 (-15.00) HSIMSCI 350.08 (-1.86) HSIMSCI FUTURES 349.70 (-1.90) us$ s$ US$ (S$ per US$) 1.251 (US$/S$ per 1.579 1.976 EURO (US$/S$/€) 1.246 1.559 Foreign currency per US$ S$ YEN 79.30 63.40 RM 3.123 2.496 HK$ 7.757 6.198 BAHT 31.43 25.12 RUPIAH
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    • Article
      Lock icon MARKETS
      47 1 Wednesday Change KL COMP 1,652.25 +2.46 NIKKEI 225 9,131.74 -25.18 HANG SENG 19,887.70 -212.31 SET INDEX 1,234.14 +1.85 JAKARTA COMP Closed MANILA COMP 5,152.15 -54.66 SEOUL COMP 1,935.19 -8.03 SHENZHEN B 589.39 -0.23 MUMBAI IND 17,846.8 -38.40 11.40 EDT Change DOW 13,139.97 -63.61 NASDAQ 3,060.84 -6.41
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    • Article
      Lock icon PRIME RATES
      16 1 SINGAPORE 5.38 MALAYSIA 6.55 HONGKONG 5.00 INDONESIA 14.432 TAIWAN 5.036 JAPAN 1.475 Source: Bloomberg
      16 words
  • Article
    Lock icon Ex-RBS man gives Libor setting a S’pore twist
    933 1  -  High Court suit claims wrongful dismissal; raises questions on SOR By GRACE LEONG [SINGAPORE] A lawsuit by a former division head has cast the spotlight on the Royal Bank of Scotland’s (RBS) practices in setting the London Interbank Offered Rate (Libor). Tan
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      231 1 CITIGROUP Pandit steers crisis-hit Citi back to its roots PAGE 2 PROPERTY Luxury market rebounds PAGE 31 APB TAKEOVER Fizz runs out for F&N shares PAGE 6 THE BUSINESS OF TIME Remember! There’s a complimentary copy of our 56-page 2012 watch supplement with your BT tomorrow *****1 *****4 IWC Pilot.
      231 words
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      8 1 JAPAN Exports down sharply in July PAGE 4
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  • TOP STORIES
    • Article, Illustration
      Lock icon Pandit steers crisis-hit Citi back to its roots
      985 2  -  Citi has refocused on providing basic banking and serving clients By VIKRAM KHANNA [SINGAPORE] “A bit like becoming the captain of the Titanic after it hit the iceberg”, was how Citigroup CEO Vikram Pandit once described taking over the helm of the
      ARTHUR LEE  -  985 words
    • Article
      Lock icon Shadow banking bugs Pandit no end
      602 2  -  It’s now two-thirds of financial system, from half in 1990 By LEE U-WEN [SINGAPORE] One of the things that keeps Citigroup chief executive Vikram Pandit awake at night is the vast amount of capital flowing into the unregulated financial system, or what is often
      602 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      435 2 AirAsia seeks a home base in S’pore AFTER almost a decade of trying and failing to set up a Singapore-based budget carrier, AirAsia is planning to give it another go. Its new Singapore CEO Logan Velaitham confirmed that the budget airline group was preparing to apply for a
      435 words
    • Article
      Lock icon RBS facing US probe, alleging violation of Iranian sanctions
      384 2 Bloomberg [LONDON] Royal Bank of Scotland Group, Britain’s biggest taxpayer-owned lender, is being probed by the Federal Reserve and Justice Department for potentially violating sanctions against Iran, two people briefed on the talks said. The investigation was triggered after the bank
      Bloomberg  -  384 words
    • Article
      Lock icon Correction
      49 2 IN “Marine workers’ pay under review: minister” (BT, Aug 22), we gave the wrong comparison for the marine and offshore engineering cluster’s contribution. It should be 10 per cent of total manufacturing value-add and not 11.8 per cent of the country’s GDP. We are sorry for the errors.
      49 words
    • Article, Illustration
      Lock icon Japan exports in July drop an alarming 8.1 %
      763 4  - Japan exports in July drop an alarming 8.1 Drop involves not just the troubled eurozone but also China and others By ANTHONY ROWLEY in Tokyo ALARM bells were set ringing in Japan yesterday as official data revealed a sharp slump in the nation’s exports last month. This time, the dismal
      BLOOMBERG  -  763 words
    • Article
      Lock icon TSE bid for Osaka rival closes; 2 funds agree to sell stakes
      525 4 Result of tender to be announced today; Osaka’s shares rise Bloomberg [HONG KONG] Tokyo Stock Exchange Group’s tender for its Osaka rival ended yesterday, with Skagen A/S and Westchester Capital Management agreeing to sell stakes in the smaller
      Bloomberg  -  525 words
    • Article
      Lock icon India mulls US$35b utility loans revamp
      431 4 Govt aims to boost power supplying capacity, avoid recurrence of big blackouts Bloomberg [NEW DELHI] India plans to restructure about US$35 billion of loans held by its utilities to boost their ability to supply electricity and avert outages like the one that cut off
      Bloomberg  -  431 words
    • Article, Illustration
      Lock icon Pay has not kept pace with earnings in China
      476 4 Bloomberg [BEIJING] JPMorgan Chase Co pays Jamie Dimon US$1.21 million for every US$1 billion of profit at the biggest US bank. Industrial Commercial Bank of China Ltd (ICBC), the world’s most profitable, gives its top executive US$9,400. That pay-to-perform-ance gap is
      Bloomberg; PHOTOS: AP; BLOOMBERG  -  476 words
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      283 2 Rutgers Rutgers Business School Asia Pacific ■f, /j *3 AIN"'' Lead Excel with the Rutgers Executive MBA Founded in 1766, Rutgers, The State University is distinguished as the 8th oldest university in the United States. Rutgers Business School was established in 1929 and has offered the Executive MBA since the
      283 words
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      198 3 www.vw.com.sg y m Si t m •r Passat S'/* Nc W V V a E m Wa m The Passat, now with Park Assist. This beautifully designed, German-engineered sedan has all the features you’d expect from a car of its class, and a few you might not, such as: 0
      198 words
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      290 4 NANYANG rASS TECHNOLOGICAL t/. UNIVERSITY Nanyang Business School NANYANG EXECUTIVE PROGRAMMES -3^ j imui iui mi, Shapingithe F uture^of «> V Ahneesah 6790 6078 26 28 Sep 21 23 Nov Ahneesah 6790 6078 27 30 Sep ADVANCED MANAGEMENT Advanced Management Programme In International Tax Berkeley-Nanyang Advanced Management Programme lATA-Nanyang Advanced
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      363 5 I I NEW DISTRICT 9 ,ra RIVERSIDE likifella I W RESIDENCES WITH HOTEL SERVICES I i: *k b i. i 0 r r 0 to f t A to H to (ft Vi" "s' r Perfectly located in the Singapore River Precinct Singapore’s integrated lifestyle enclave Limited time: Enjoy special
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      209 6 New Zealand Relocation and Investment Forum New Zealand cities consistently rank amongst the top cities in the world to live in, the easiest place in the world to start a business and the top ranked country for investor protection. There are now new opportunities for high net worth business people
      209 words
  • COMPANY NEWS
    • Article
      Lock icon The fizz runs out for F&N shares
      526 6  -  Profit-taking likely after Heineken made its final offer for APB stake APB TAKEOVER By EMILYN YAP SHARES in Fraser and Neave (F&N) fell for the second straight day this week as the market digested news of Heineken’s final offer for its stake in
      526 words
    • Article, Illustration
      Lock icon A pity for retail investors UIC, SingLand have small free floats
      1131 6  -  HOCK LOCK SIEW By KALPANA RASHIWALA UNITED Industrial Corporation (UIC) and its subsidiary, Singapore Land, have raised their profiles on the residential property front lately with project launches and site acquisitions. SingLand has been on a mini shopping spree,
      1,131 words
    • Article, Illustration
      Lock icon Heineken sees stagnant full-year profit
      786 6 Falling European demand highlights need for APB control Bloomberg [LONDON] Heineken NV said that full-year profit will be stagnant as demand in Western Europe stumbles, highlighting the Dutch brewer’s need to win the battle for full control of Asia Pacific Breweries (APB) Ltd. Heineken expects
      Bloomberg; AP  -  786 words
    • Article, Illustration
      Lock icon DBS call centre gets speech analysis system
      495 7  -  Software aims to enhance customer satisfaction, improve operational efficiency By TOH LI WEN DBS Bank yesterday announced that it is the first local bank to implement interaction analytics at its Singapore call centre. This means the 500-seat centre, which handles up to five
      FILE PHOTO  -  495 words
    • Article, Illustration
      Lock icon Hanwell accepts Oei’s offer for Intraco stake
      306 7  -  By EMILYN YAP HANWELL Holdings yesterday accepted tycoon Oei Hong Leong’s $20.6 million offer for its stake in Intraco and is working towards finalising the sale-and-pur-chase agreement. This came a day after Mr Oei set a deadline for the deal, saying he will
      306 words
    • COMPANY BRIEFS
      • Article
        Lock icon Hyflux $100m 7-year bonds
        29 7 HYFLUX will be issuing $100 million of seven-year bonds with a coupon rate of 4.2 per cent. DBS was the sole bookrunner for the exercise.
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      • Article
        Lock icon CCT’s buyback of convertible bonds
        66 7 CAPITACOMMERCIAL Trust (CCT), which launched a tender offer last week to repurchase up to $146.75 million of outstanding convertible bonds due next year, has received valid tenders and commitments of $90.25 million. CCT will accept tenders at a price of not less than 109.5 per
        66 words
      • Article
        Lock icon HLN Tech stake going at 16.6% premium
        139 7 HLN Technologies said it was selling its 50.54 per cent stake in Greatly Holdings Investment Ltd for RMB74.64 million ($14.7 million), representing a premium of about 16.6 per cent to the net asset value of the sale shares as at Dec 31, 2011.
        139 words
      • Article
        Lock icon ST Kinetics pumps $5.05m into two subsidiaries
        97 7 ST Engineering said its land systems arm, ST Kinetics, has injected $5.05 million into the capital of two of its wholly owned subsidiaries. ST Kinetics injected $1.8 million into SecurEdge Pte Ltd, which specialises in the customisation and integration of world leading solutions
        97 words
      • Article
        Lock icon Mobile banking from Maybank
        43 7 MAYBANK Singapore has introduced a mobile banking service for customers to transact on the go. Its mobile banking application will be available for iPhones in the initial launch, and for other mobile platforms in the second quarter of 2013.
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      • Article
        Lock icon RH Petrogas Yongping Field plan approved
        35 7 RH Petrogas’s wholly owned subsidiary has received approval from China National Petroleum Corporation for its revised overall development plan for the phased development of Yongping Field in Jilin, China.
        35 words
      • Article
        Lock icon LMA to supply laryngeal masks to Aussie group
        89 7 LMA International NV said its wholly owned subsidiary, LMA PacMed, has been awarded a three-year sole supply agreement for its LMA™ laryngeal mask range of products by the Ramsay Healthcare Group in Australia. The agreement includes the provision of both re-usable LMA™
        89 words
    • Article
      Lock icon Saizen Reit posts higher FY DPU
      346 9  -  By CARINE LEE SAIZEN Real Estate Investment Trust yesterday posted distribution per unit of 1.24 cents for the fiscal year ended June 30, 2012, and declared a distribution of 0.63 Singapore cent per unit. A year ago, the Reit reported DPU of 1.02 cents
      346 words
    • Article, Illustration
      Lock icon Ellipsiz’s full-year earnings dive 78% to $2.25m
      335 9  -  By TEO SI JIA ELLIPSIZ Limited’s earnings for the fiscal year ended June 30, 2012, slumped 78 per cent to $2.25 million, from $10.34 million a year earlier. Full-year revenue slid 18 per cent from the previous year to $144.29 million, on the
      335 words
    • Article
      Lock icon Nam Cheong wins sale contracts of US$43.81 m
      271 9  -  By TEO SI JIA Malaysian-based offshore support vessel (OSV) shipbuilder Nam Cheong Ltd has secured contracts worth a total of US$43.81 million for the sale of three vessels. Two anchor handling towing supply (AHTS) vessels were sold to repeat customers, a Norwegian-based
      271 words
    • Article
      Lock icon PLife Reit’s right of first refusal expires
      392 9  -  Steps to be taken to prevent potential conflict of interest with sponsor By NISHA RAMCHANDANI THE right of first refusal granted by sponsor Parkway Holdings over the sale of healthcare assets expired yesterday and will not be extended, said Parkway Life Real Estate
      392 words
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      353 7 IBM, the IBM logo, ibm.com, Smarter Planet and the planet icon are trademarks of International Business Machines Corp., registered in many jurisdictions worldwide. Other product and service names might be trademarks of IBM or other companies. A current list of IBM trademarks is available on the Web at www.ibm.com/legal/copytrade.shtml. International
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      18 7 Pacify the Raging Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Apology Notices CLA/FEB1 1/g
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon STI volatile on euro debt crisis
      539 8  -  It swings between a morning low of 3,031.56 and a later high of 3,051.38 before closing at 3,049.47 points STOCKS VEN SREENIVASAN Senior Correspondent IT WAS volatile session on the Asian markets against the backdrop of eurozone leaders meeting to hammer out a solution
      Source: Bloomberg  -  539 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 8 4 0 0 0 5 8 4 Manufacturing 37 61 36 3 10 8 40 71 44 Commerce 13 23 23 4 4 4 17 27 27 Tpt/Stor/Comms 13 20 8
      186 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 16,235 16,235 53,797 53,797 Manufacturing 216,444 80,134 296,578 221,037 1,047 222,084 Commerce 171,942 7,829 179,771 121,530 365 121,896 Tpt/Stor/Comms 73,150 20,126 93,276 120,350 6,084 126,434 Finance 25,572 680 26,252 115,619 285 115,904 Construction 50,853 13,377
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    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      111 8 Stock name Close Change CapMallsAsia 1.645 -0.005 CapitaLand 3.060 CapitaMall 1.920 -0.010 CityDev 11.700 +0.180 ComfortDelGro 1.660 -0.030 DBS Grp 14.580 -0.140 F&N 8.270 -0.080 GLP 2.360 +0.020 Genting SP 1.335 -0.020 Golden Agri 0.720 +0.010 HK Land 6.150 +0.020 JMH 53.650 -0.450 JSH 33.600 -0.390
      111 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      65 8 Aug 22 VALUE CLOSE BT OB/OS -123.00-122.00 BT CADI -*****.00 -75.00 BT 10-day MA -*****.00 -12.00 FTSE ST Mid Cap 707.45 -0.48 FTSE ST Small Cap 465.35 -1.90 FTSE ST All Share 738.06 -3.34 FTSE ST China Top 202.62 -1.75 FTSE ST China 221.31 -1.27 FTSE ST
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    • Article
      Lock icon MOST ACTIVE STOCKS
      59 8 VOLUME Golden Agri 75,779,000 Noble Grp 46,721,000 Goldtron 46,593,000 GSH Corp 39,111,000 Sakari 35,118,000 Metech Int 27,812,000 Yangzijiang 20,169,000 Genting SP 19,974,000 Sky One 19,339,000 LionGold 18,811,000 VALUE($) Noble Grp 58,090,550 SingTel 55,203,730 Golden Agri 53,796,590 Sakari 50,987,738 Asia Pac Brew 50,138,000 DBS Grp 40,827,850 UOB 39,132,440
      59 words
    • Article, Illustration
      Lock icon BROKERS’ TAKE
      796 8  -  Compiled by LYNN KAN FJ Benjamin Holdings Ltd Aug 22 close: $0.34 Maybank Kim Eng Research, Aug 22 FJ BENJAMIN’S (FJB) full-year results came below our expectations, with sales of $393.2 million, and net profit of $13.5 million, making up 85 per cent of our estimates. The group
      Source: Bloomberg  -  796 words
    • Article, Illustration
      Lock icon Asian currencies gain on euro meet
      586 8 CURRENCIES Bloomberg [SINGAPORE] Most Asian currencies advanced on speculation that euro-ar-ea leaders meeting this week will agree to ease bailout conditions for Greece to help resolve the region’s debt crisis. Malaysia’s ringgit rose the most in two weeks, India’s rupee traded at a one-week
      Bloomberg; BLOOMBERG  -  586 words
    • Article
      Lock icon RISES
      108 8 BY CENTS CLOSE UP GLD 10US$ ***** 247.8 1.3 DBXT Nifty 10US$ 9975 151.4 1.2 DBXT AUD Bonds 5AU$ ***** 111.1 0.5 DBXT E50 10US$ 3597 51.3 1.2 DairyFarm 1088 35.0 2.6 DBXT S&P Short 10US$ 3607 32.5 0.7 CityDev.ES.1208 1169 29.0 2.5 Total Access 278 25.0 7.8 CityDev
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    • Article
      Lock icon FALLS
      125 8 BY CENTS CLOSE DOWN DBXT MSKorea 10US$ 5570 -143.9 -2.0 Hyflux 6% CPS 10 ***** -111.0 -1.0 Jardine C&C 4813 -82.0 -1.7 JMH 5365 -56.3 -0.8 DBXT FTVietnam 10US$ 2214 -55.1 -1.9 JSH 3360 -48.8 -1.1 DBS.ES.1208 1456 -22.0 -1.5 DBXT MSTaiwan 10US$ 1709 -18.8 -0.9 Lyxor China H
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 8 DAILY
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      11 9 CATS Recruit The first door to your world of opportunities CLA/AUG06/g
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      182 9 SAXO CAPITAL MARKETS A TRADER'S BEST CALL www.saxomarkets.com.sg Traders move with trends. Experienced traders move with SAXO. Experienced traders aren't swayed by trends. Regardless of situation and noise in the market place, they make the best-informed decisions that are backed by insights and analysis. Empower your online trading experience today
      182 words
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  • SINGAPORE NEWS
    • Article
      Lock icon Casinos fined for breach of social safeguard requirements
      535 10  -  CRA censures MBS for violating gaming equipment rules in ‘jackpot aunty’ case By GRACE LEONG A WRONG winning message that made “jackpot aunty” Choo Hong Eng think she had won a Cash Bonus of $416,742.11 playing slots at Marina Bay Sands (MBS)
      535 words
    • Article
      Lock icon 4 in 5 students in S’pore have healthy interest in business
      451 10  -  37.5% have seriously thought to set up own business: study By ANGELA TENG SINGAPOREAN students in institutes of higher learning (IHL) show a healthy interest in entrepreneurship though not many yet are actively starting businesses, according to a survey.
      451 words
    • Article, Illustration
      Lock icon Changi passenger traffic up 4.5% in July
      255 10  -  By VEN SREENIVASAN PASSENGER traffic through Changi Airport in July rose 4.5 per cent year-on-year to 4.36 million. Air traffic movements grew in tandem, with 27,100 landings and take-offs or 4.6 per cent more than a year ago. Traffic to and from the
      JOYCE FANG/THE STRAITS TIMES  -  255 words
    • Article
      Lock icon EPL Masters Football Asia getting corporate sponsorship cold shoulder
      716 10  -  By MALMINDERJIT SINGH FOOTBALL legends will be making their way to Singapore later this year to showcase their skills to a local audience, but companies here are missing out on a chance to capitalise on this sporting extravaganza. The EPL (English
      716 words
    • Article, Illustration
      Lock icon Top bid of $32.3m for Bukit Batok industrial site
      345 10  -  By MINDY TAN A 30-YEAR leasehold industrial site on Bukit Batok Street 23 yesterday drew four bids, with the top bid coming in at $32.3 million, or $80.03 per square foot per plot ratio (psf ppr). The top bid, submitted by
      345 words
    • Article
      Lock icon Ascendas JV to develop phase 5 of Fusionopolis
      460 10  -  By LEE MEIXIAN ASCENDAS Land, a wholly owned subsidiary of Ascendas Pte Ltd, has entered into a joint venture (JV) with Tokyo-based Mitsui Co to develop the fifth phase of Fusionopolis. The new JV company, Ascendas Fusion 5, will be held by
      460 words
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      162 10 Legend of the Seas 2012/2013 2N MALACCA CRUISE Dep Date 03 Nov 2012, 06 Feb, 23 Mar 2013 Port-of-call Singapore, Malacca 3N BEST OF MALAYSIA CRUISE Dep Date 31 Oct, 09, 16, 23 30 Nov, 07, 14 26 Dec 2012 Port-of-call Singapore, Penang, Malacca Dep Date 22 Feb, 01,08 29
      162 words
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  • MALAYSIA
    • Article, Illustration
      Lock icon Astro Malaysia IPO could fetch RM5.47b
      392 11 Share offer will be the country’s 3rd largest this year, after Felda and IHH Reuters [KUALA LUMPUR] Astro Malaysia Holdings Bhd, a pay-TV company, is offering up to 1.52 billion shares in an initial public offering, an updated draft prospectus showed yesterday. The share
      Reuters; BLOOMBERG  -  392 words
    • Article
      Lock icon Guan Chong shares fall on shelving of S’pore listing
      406 11 Bloomberg [KUALA LUMPUR] Shares of Guan Chong Bhd, which supplies cocoa for chocolate brands including Hershey’s and Mars, fell the most in eight months in Kuala Lumpur trading yesterday after the company shelved plans for a secondary listing in Singapore. The
      Bloomberg  -  406 words
    • Article
      Lock icon Fearless Ambiga forges ahead in M’sia
      425 11 Lawyer ignores death threats in fight for electoral reforms Bloomberg [KUALA LUMPUR] Ambiga Sreenevasan got anonymous death threats for her work on the rights of women whose husbands convert to Islam in Muslim-ma-jority Malaysia four years ago. After leading a rally calling for electoral
      Bloomberg  -  425 words
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      240 11 MEDICAL MANUFACTURING ASIA Your Strategic Platform for Medical Technology Solutions The Manufacturing Processes for Medical Technology At MEDICAL MANUFACTURING ASIA 2012, you will: Discover cutting-edge medical manufacturing solutions and processes such as micro- and nano-technology Strengthen your network and establish new business partnerships with over 150 exhibiting companies Benefit from
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      396 11 40% off 2 nd item 25% off 1 st item Plus $7 00 cash voucher Conditions apply St* 6757 om.sg LIVE WELL f www.gne.Gorri.sg A i To create the most valuable life space Beijing-HongKong TdiWan Singapore VANTON E TAIPEI 2011 Hffi I LUXURY SERVICE APARTMENT An Exclusive View of Yangming
      396 words
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  • GREATER CHINA/INDIA
    • Article
      Lock icon Chinese carmakers facing tough year as demand dips
      685 12 State groups with strong foreign ties likely to perform better than others Reuters [BEIJING] Chinese automakers have had their toughest first half since the global financial crisis and the rest of this year looks set to be tougher still as the world’s
      Reuters  -  685 words
    • Article
      Lock icon China’s rural wealth gap near danger levels: study
      323 12 AFP [SHANGHAI] China’s countryside is facing a widening wealth gap as hundreds of millions of residents abandon farming for better paid work in cities, a report said, warning rural inequality was approaching “danger” levels. The Centre for Chinese Rural Studies said inequality
      AFP  -  323 words
    • Article, Illustration
      Lock icon Lack of trust hurts India’s growth, says economist
      641 12 AFP [NEW DELHI] For India to grow rich, must its citizens become more honest? It’s a question that preoccupied Kaushik Basu, the government’s chief economic adviser, during his term in office. “We talk of good moral values as useful in themselves, but
      AFP  -  641 words
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      64 12 AS OUR DISPLAYS HOLD YOUR ATTENTION, If LET OUR 4 MUSIC MOVE YOUR FEET. isn't replacing elevator music with a jazz quartet. Its keeping you upbeat as you wait for a friend who's been running late for the last three songs. Music EnVogue: Carol Gomez 11-27 August DAILY (EXCEPT TUESDAY):
      64 words
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  • ECONOMY WATCH
    • Article
      Lock icon Rules to cut US manufacturing output by US$500b: study
      479 13 But OMB says rules in Obama’s first 32 months delivered US$91 b in net gains Bloomberg [WASHINGTON] Regulations on US manufacturing may reduce output by as much as US$500 billion this year, according to an in-dustry-sponsored study that cast doubts on
      Bloomberg  -  479 words
    • Article
      Lock icon Japan needs more corporate investment
      327 13 Ex-minister says BOJ should work on long-term funding Bloomberg [TOKYO] Japan’s monetary easing efforts to spur economic growth will fail until it finds a way to jumpstart corporate investment, said Kazuyuki Sugimoto, who previously served as the nation’s vice-finance minister. The Bank of Japan (BOJ)
      Bloomberg  -  327 words
    • Article, Illustration
      Lock icon Over 40% of UK firms defer investments: poll
      265 13 Bloomberg [LONDON] More than four out of 10 UK business leaders have delayed at least one investment or employment decision this year due to uncertainty about the outlook, the Institute of Directors said, citing a poll. Forty-four per cent of 1,277 institute
      Bloomberg  -  265 words
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  • WORLD
    • Article, Illustration
      Lock icon Europe’s investment banks under pressure
      1120 14 They may be forced to close some businesses as debt crisis persists Bloomberg [LONDON] Europe’s failure to resolve its sover-eign-debt crisis will force in-vestment-banking chiefs in the region to consider shuttering entire businesses rather than rely on piecemeal job reductions to revive profit. Deal-making fees
      Bloomberg; BLOOMBERG FILE PHOTO  -  1,120 words
    • Article
      Lock icon ECB hires more staff to handle extra workload
      482 14 Survey shows bank’s employees putting in constant overtime AP [FRANKFURT] Europe’s debt crisis is close to claiming a new set of casualties the European Central Bank’s (ECB) overstretched staff. The central banking authority for the 17 countries that use the euro says
      AP  -  482 words
    • Article, Illustration
      Lock icon Lawsky not first state official to jump the gun
      641 15 A-Gs flagged corrupt lending practices by big banks earlier than federal officials The Washington Post [WASHINGTON] When a little-known New York regulator this month threatened to revoke the charter of a major international bank for allegedly laundering money for Iran, the
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    • Article
      Lock icon Probe sought into RBA ‘cover-up’ in bribery case
      384 15 Note-printing firms accused of bribing foreign bank execs AFP [SYDNEY] Pressure mounted yesterday for an independent inquiry into allegations the Reserve Bank of Australia (RBA) covered up evidence of bribery by its note-printing subsidiaries. Eight executives from two firms either wholly or
      AFP  -  384 words
    • Article
      Lock icon Crowdfunding scams listed as top investor threat
      345 15 Reuters [NEW YORK] State securities regulators in America have put the relatively new investment phenomenon of crowdfunding at the top of their annual investment scams list, highlighting a recent controversial US law that relaxed capital raising rules on small companies. The North American
      Reuters  -  345 words
    • Article, Illustration
      Lock icon Facebook slide signals scepticism over free model
      629 16 Investors concerned about companies that are popular but do not charge users WP [WASHINGTON] The dizzying stock decline of Facebook, a wealthy company with nearly a seventh of the world’s population as users, has revived a key debate of the Internet age: can
      WP; AP  -  629 words
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      Lock icon Success of basic phones gives Nokia some relief
      678 16 Bloomberg [STOCKHOLM] Nokia Oyj, burning cash as it struggles to revive its smartphone business, is winning time for the recovery effort by gaining more customers for another product: basic mobile phones it sells for US$39. By adding features such as quicker Web
      Bloomberg  -  678 words
    • Article, Illustration
      Lock icon Sharp may sell stakes in other firms to raise cash
      509 16 It prepares to slash jobs as loss forecast widened by 8 times Bloomberg [TOKYO] Sharp Corp, the maker of Aquos televisions, may sell stock holdings and offer workers buyouts after slumping sales prompted the company to widen its full-year loss
      Bloomberg; AFP  -  509 words
    • Article
      Lock icon Dell cuts revenue and earnings forecasts
      482 16 Reuters [BOSTON] Dell Inc warned of a challenging second half and slashed its full-year earnings outlook as customers cut back on computer purchases ahead of the launch of Microsoft’s Windows 8 software. Once the world’s top PC maker and a pioneer in computer supply
      Reuters  -  482 words
    • Article, Illustration
      Lock icon BHP defers projects after H2 profit plunges
      636 17 It delays approval for US$68b projects, including expansion of Olympic Dam Bloomberg [SYDNEY] BHP Billiton Ltd, the world’s biggest mining company, put approvals for about US$68 billion of projects on hold after sec-ond-half profit plunged 58 per cent as metal prices declined and
      Bloomberg; BLOOMBERG FILE PHOTO  -  636 words
    • Article, Illustration
      Lock icon Woodside shelves LNG plant expansion
      510 17 Gas exploration failed so it must rely on outside suppliers Reuters [PERTH] Woodside Petroleum, Australia’s biggest oil and gas company, said it will shelve plans to expand the A$15 billion (S$19.4 billion) Pluto liquefied natural gas plant after recent gas exploration efforts failed, sending its
      Reuters  -  510 words
    • Article
      Lock icon Hedge funds nibble at cut-price Greek bonds
      499 17 Reuters [LONDON] A handful of plucky hedge funds are nibbling again at cut-price Greek government bonds, increasingly optimistic that progress in talks between Athens and international lenders will deliver a better principle payout for bondholders. Such funds think the bonds, which attracted few
      Reuters  -  499 words
    • Article
      Lock icon Asia’s imports of Iran crude set to recover in Sept
      513 17 Reuters [SINGAPORE] Asia’s crude imports from Iran are set to recover in September to levels reached before a July 1 insurance ban by the European Union (EU) plunged trade with the Islamic Republic into uncertainty not seen in decades. Top
      Reuters  -  513 words
    • Article, Illustration
      Lock icon Existing home sales rise 2.3% in July
      556 18 More housing deals seen in coming months as hiring picks up slightly LATEST US DATA AP Bloomberg [WASHINGTON] Americans bought more homes in July than in June, the latest evidence that the housing market is slowly recovering. Sales of previously occupied homes rose
      AP; Bloomberg; BLOOMBERG FILE PHOTO  -  556 words
    • Article
      Lock icon Russia’s WTO entry seen boosting economy
      443 18 AFP [MOSCOW] Russia yesterday crowned a tortuous 18-year journey from communist economic isolation by becoming the largest state outside the World Trade Organization (WTO) to join the free trade club. The more optimistic economists think the transition will add an additional tenth of Russia’s
      AFP  -  443 words
    • Article, Illustration
      Lock icon Citi to expand Europe credit trading team
      522 18 It finds potential as Europe’s banks are forced to slim down Bloomberg [LONDON] Citigroup, the third-biggest US bank, plans to increase the headcount for its European credit sales and trading team by as much as 5 per cent to seize market share from
      Bloomberg; BLOOMBERG FILE PHOTO  -  522 words
    • Article
      Lock icon Greek PM seeks ‘breathing space’
      460 18 Reuters [ATHENS] Greek Prime Minister Antonis Samaras started a European charm offensive yesterday with an appeal to Germans for more time to meet Athens’ borrowing obligations, but he may struggle to make his case in a series of meetings this week with European Union (EU)
      Reuters  -  460 words
    • Article
      Lock icon Apple, Foxconn improve conditions at Chinese plants
      578 18 Reuters [SAN FRANCISCO] Apple and Foxconn have improved working conditions at Chinese factories that make most of the world’s iPads and iPhones, according to auditors that the firms enlisted to monitor the process, but tough tasks lie ahead. The Fair Labor Association (FLA)
      Reuters  -  578 words
  • Page 14 Advertisements
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      841 14 SERIES Effective Leadership Customer Service Skills AUGUST 2012 FULL-DAY WORKSHOPS 27 Aug, 2012 (Mon) 23 Aug, 2012 (Thu) Unlock Your Personal Charisma The Unspoken Secret of the Successful SPH News Centre (9.30am to 6.00pm) Who should attend: What you will learn: How to connect with anyone (including difficult people) and
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      273 15 SINGAPORE’S I.T. CONSUMER TECHNOLOGY EXHIBITION BIGGEST www.comexshow.com.sg Join us at DON’T MISS COMING SOON! 30thAug 2ndSept SUNTEC SINGAPORE SINGAPOREBIGGESTI.T EXHIBITION OF THE YEAR! GUARANTEED OVER$90,000CASH TO BE WON IN 4 DAYS! (One coupon for every $100 paid or deposit placed during the 4 days) EXCLUSIVE SHOW OFFERS >> NEW PRODUCTS
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      693 15 THE MONETARY AUTHORITY OF SINGAPORE APPLICATION FOR TAXABLE BOOK-ENTRY SINGAPORE GOVERNMENT BONDS TENOR APPROXIMATELY 15 YEARS TOTAL AMOUNT OFFERED SGD 1,500,000,000 MINIMUM DENOMINATION SGD 1,000 MAS' INTENDED TENDER AMOUNT2 SGD 200,000,000 ISSUE CODE NZ*****S (REOPENED) ISIN CODE SG7J*****174 ISSUE DATE/SETTLEMENT DATE 03 SEPTEMBER 2012 MATURITY DATE1 01 MARCH 2027 COUPON
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      467 16 THINK BIG ENTREPRENEUR CONVENTION 2012 Business Solutions Updated Whether you are starting up or already running a business, here's your opportunity to glean expert advice from experienced business specialists on how to fund your ideas, improve efficiency and communicate your brand effectively. Plus hear what industry leaders think how businesses
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      295 17 Organised by Singapore Indian Chamt Main Sponsor ODES Living, Breathing Asia Knowledge Advisor RSM Chio Urn SICCI'DBS Singapore Indian Entrepreneur Aw ards 2012 APPLICATIONS ARE NOW OPEN! Category 1: Large Enterprise Applicants whose business'/company's annual turnover is more that S$25 million; or a net annual profit of more that S$2.5
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      750 18 BEATS NOTICES —I IN THE MATTER OF COMPANIES ACT, CAP. 50 AND IN THE MATTER OF RIKEI CORPORATION (SINGAPORE) PTE. LTD. REG. NO. *****2428E (IN MEMBERS’ VOLUNTARY LIQUIDATION) NOTICE OF RESOLUTIONS [Pursuant to Section 290(2)(b)] At an Extraordinary General Meeting of the Company held on 31 July 2012, the following
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      59 19 WITH CREDIBLE PROPERTY REVIEWS, THE LATEST PROPERTY TRENDS AND ADVANCED SEARCH TOOLS BASED ON PRICE. SIZE AND TYPE. FINDING YOUR IDEAL HOME IS EASY. A product of SPH, Singapore’s trusted media group. At stproperty.sg your ideal home isn’t hard to find. The STProperty App for iPhone and iPad is free
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  • EDITORIAL & OPINION
    • Article
      Lock icon Preparing for sea change ahead with ICT
      476 20 EDITORIAL SPEAKING at a symposium last week, IDA CEO Ronnie Tay said infocomm technology is embedded in the way we work, live, learn and interact. At the event, IDA (the Infocomm Development Authority of Singapore) launched the Republic’s latest Infocomm Technology Roadmap (ITR).
      476 words
    • Article, Illustration
      Lock icon East Asian territorial disputes sink to new depths
      796 20  -  THE BOTTOM LINE ANTHONY ROWLEY Tokyo Correspondent HOW could nations with histories and cultures stretching back over thousands of years behave in such an immature way as Japan, China and South Korea have been doing in recent weeks? It almost defies comprehension
      796 words
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      Lock icon The new governance code under scrutiny
      841 20  -  Likely cost increases may make it challenging for many firms to fully comply with the Code By FARHANA SIDDIQUI, LAM SHIAO NING The writers are directors, corporate finance at Drew Napier LLC SINGAPORE has faced its fair share of corporate scandals involving listed entities
      STOCK.XCHNG  -  841 words
    • Article, Illustration
      Lock icon Attracting the best to accountancy
      1196 21  -  Productivity and quality of the profession mean starting with the right raw material By MARK BILLINGTON The writer is ICAEW Regional Director South-east Asia AS Asean adjusts to a slowdown in economic growth in 2012, the theme of the Accounting and Corporate Regulatory Authority (Acra)
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      Lock icon Greece’s default, a euro exit are separable issues
      971 21  -  By CLIVE CROOK The writer is a Bloomberg View columnist. The opinions expressed are his own INVESTORS are bracing themselves for yet another euro-area moment of truth. How many does that make? The European Central Bank’s (ECB) policy-making body will meet on
      BLOOMBERG  -  971 words
    • Article
      Lock icon Substantial shareholder link makes buyout of SMP unfair
      224 21  -  LETTER TO THE EDITOR Chia Cheng Tiam THE recent offer by Crown Speciality Packaging Investment Pte Ltd (CSPI) to take Superior Multi-Packaging Ltd (SMP) private is not fair to minority shareholders. CSPI is 60 per cent owned by Crown Holdings, one of
      224 words
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  • AVIATION
    • Article, Illustration
      Lock icon Lufthansa plans more job cuts, outsourcing
      431 22 It’s making new pay offer to cabin crew after union rejects latest proposal [FRANKFURT] Deutsche Lufthansa AG said it plans to cut more jobs and may move some activities outside Germany as it works on a savings plan aimed at shaving 1.5 billion euros
      FILE PHOTO  -  431 words
    • Article, Illustration
      Lock icon JetBlue shuns merger talks with AMR
      518 22 LAT-WP [NEW YORK] JetBlue Airways has “no interest” in a merger with AMR Corp’s bankrupt American Airlines and hasn’t received a document that would allow an exchange of confidential information between the carriers. After being identified by AMR last month as likely to get
      LAT-WP  -  518 words
    • Article
      Lock icon German customs demand 380K euros for return of violin
      296 22 AFP [TOKYO] German customs have seized a US$1.2 million violin from a Japanese professional musician and are demanding she pay almost US$500,000 to get it back, reports said yesterday. Belgium-based Yuzuko Horigome was transiting through Frankfurt Airport last week after performing
      AFP  -  296 words
    • Article
      Lock icon Virgin to start Londonto-Manchester services
      502 22 Virgin to start London-to-Manchester services Reuters [LONDON] Virgin Atlantic will go head to head with rival British Airways (BA) on routes between London and Manchester next year after unveiling plans to make its first foray into the domestic short-haul market. The airline, founded by serial entrepreneur Richard Branson in 1984,
      Reuters  -  502 words
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  • Page 22 Miscellaneous
    • Miscellaneous
      Lock icon Page 22 Miscellaneous Column 1
      312 22 CRYPTIC CROSSWORD Across 1 Beauty getting a little behind covering hurry up! (4,6) 6 Man taking beer cold (4) 9 One seeking information about brand new singer hardly (10) 10 Eastern potentate investing rupees initially here? (4) 12 Second try to come between two old prime ministers is cruel (5-7)
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  • SHIPPING
    • Article, Illustration
      Lock icon Carriers still off course on box-rate hikes
      623 23 Overcapacity keeps them from being able to match jumps in fuel costs Bloomberg [HAMBURG] The world’s container lines can’t raise freight rates fast enough to cover soaring fuel prices as persistent overcapacity works against the industry. Hapag-Lloyd AG, Europe’s fourth-biggest container company, has
      Bloomberg; REUTERS  -  623 words
    • Article
      Lock icon VLCCs close to seventh week of negative returns
      336 23 Bloomberg [LONDON] The biggest oil tankers moved nearer to a seventh week of negative returns on the industry’s benchmark route amid a lingering surplus of vessels seeking to load cargoes in the Persian Gulf. Very large crude carriers (VLCCs) are losing US$5,884
      Bloomberg  -  336 words
    • Article
      Lock icon China’s rising demand for cheaper imported iron ore seen boosting prices
      513 23 Market rebound likely as early as September Bloomberg [SHANGHAI] A plunge in shipping costs and iron ore prices mean it’s cheaper for Chinese steel mills to buy the material from Brazil more than 8,000 nautical miles (about 14,820km) away
      Bloomberg  -  513 words
    • Article, Illustration
      Lock icon Stricken vessel finds refuge in Germany
      254 23 AFP [BERLIN] German shipping authorities have agreed to take charge of a stricken cargo vessel after an explosion in July that caused one death and which has since limped around international waters looking for a port. Germany’s Central Command for Maritime Emergencies said on
      AFP; AFP PHOTO /HO/ SMIT SALVAGE  -  254 words
    • Article
      Lock icon TRANSPORT STOCKS
      252 23 SGX '000 Aug 22 S$ +/-Vol CH Offshore 0.43 -0.01 346 Chuan Hup Hldg 0.24 0.01 265 Cosco Corp 1.00 -0.02 2933 s$ First Ship Lea 0.14 unch 512 Freight Links 0.07 unch 700 Grand Banks 0.26 0.03 443 Jaya Hold Ltd 0.54 0.01 73 K1Ventures 0.13 unch
      252 words
    • Article
      Lock icon The Business Times Shipping Times
      1916 24 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE UK CONTINENT SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN
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  • Page 23 Advertisements
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      Lock icon Page 23 Advertisements Column 1
      1256 23 ■<®t WAT3 NOTICES ICICI Bank (Incorporated in India) Registered Office: Landmark, Race Course Circle, Vadodara 390 007. Corporate Office: ICICI Bank Towers, Bandra-Kurla Complex, Mumbai 400 051. Balance Sheet at March 31, 2012 Auditors' Report in '000s Profit and Loss Account for the year ended March 31, 2012 in '000s
      1,256 words
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      34 24 PLACE YOUR AD HERE The Business Times Shippiis g Times CALL JOE WON G AT 9620 1327 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? II
      34 words
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      Lock icon Page 24 Advertisements Column 2
      30 24 Experienced sh/p maintenance m you y r services services wanted, herein the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES III. UUJINLJJ IIIVILJ Shipping Times
      30 words
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      2983 25 Transaction date: Aug 22 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Day Last Quote Div Gr Yld 132 92.5 AIMSAMPIReit 128.5 +0.5 309 129 127.5 128.5 129
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      Lock icon SGX CATALIST
      164 26 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale ('000) High Low Buyer Seller C'vr
      164 words
    • Article
      Lock icon UNIT TRUST & FUNDS
      7815 26 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha FuncTCI A!** AXA Wealth Mgt S'pore Pte Ltd APS Alpha Fund (USD)!** Aberdeen Asset Mgt Asia Limited AXA Wealth Mgt S'pore Pte Ltd Aberdeen Asset Mgt Asia Limited Asian Local Ccy SD Bond 0.983/ FM local Ccy Bond
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    • Article
      Lock icon GLOBALQUOTE
      191 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 41.5 25.5 Genting HK US$ US36 unch ***** 36.5 35.5 36 36.5 2370.4 220 168 TanChongInt HK208cd +2 78 208 208 207 209 4.3 3.4 7 4188.9
      191 words
    • Article
      Lock icon SGX ETF
      937 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Company 126.8 122.2 CIMB APAC Div 100S$D 126.8 126.8 127.7 103 95.8 CIMB APAC Div 100US$ US102 101 101.6 10.7 1310 1246 CIMBASEAN40 100S$D 1310 1301
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      629 27 Aug 22 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 9150.69 9162.97 9075.08 Sep12 9165.00 9245.00 9065.00 9115.00 ***** *****9 Dec12 9145.00 9180.00 9015.00 9050.00 449 ***** MSCI TAIWAN INDEX FUTURES SPOT 265.52 265.63 263.89 Aug12 266.50 267.60 263.90 265.10 ***** *****2 Sep12 266.00
      629 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 27 In local curr In S$ In US$ dy yr dy yr dy yr Aug 21 Index Change Change Change Change Change Change World Preliminary 913.4 0.3 10.1 0.3 5.7 0.6 9.7 EAFE Preliminary 733.7 0.5 7.6 0.7 2.4 1.1 6.3 Europe Preliminary 1109.1 0.6 8.0
      373 words
    • Article, Illustration
      Lock icon SMX MARKET UPDATE
      120 27 As on 21 August 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL INDIA GOLD (E-GOLD) FUT OCT2012 545.65 540.25 545.70 1414 GOLD FUT DEC2012 1641.70 1624.50 1643.00 72 CURRENCY EUR-USD FUT SEP2012 1.2491 1.2361 1.2477 1977 BASE METAL COPPER FUT SEP2012 7621 7444
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    • Article
      Lock icon CHICAGO BOT
      107 27 Aug 21 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Sep 12 1753.50 1703.75 1754.75 1702.75 Nov 12 1732.50 1683.50 1734.00 1681.00 Jan 13 1720.50 1673.75 1722.00 1672.25 Mar 13 1623.25 1578.25 1624.25 1576.25 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Sep 12 55.57
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    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 27 CRUDE OIL PRODUCTS Aug 21 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 115.34 1.17 WTI (Near Mth) 96.56 0.66 Dubai (1-Mth F) 111.13 0.20 Tapis blend 118.34 -0.26 Minas 117.84 -0.26 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 104.11 0.05 Jet Kerosene 131.90 -0.36 US$/barrel OpecOil Basket
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    • Article
      Lock icon US$/S$ FORWARD RATES
      25 27 Aug 22 RATES Aug 22 s$ Bid Offer 1-month 1.2513 1.2515 2-months 1.2512 1.2515 3-months 1.2511 1.2514 6-months 1.2501 1.2503 Source: OCBC
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    • Article
      Lock icon LONDON METALS
      66 27 Aug 21 Aug 21 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1832.50 1800.00 3 months 1867.00 1837.00 Copper, Grade A(US$/tonne) Cash 7604.50 7447.00 3 months 7610.00 7456.00 Lead(US$/tonne) Cash 1905.00 1899.00 3 months 1914.00 1909.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.50 *****.00 3
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    • Article
      Lock icon LIFFE
      80 27 Aug 21 COCOA (£/tonne) Close Prev High/Low Sep 12 1602 1605 1621/1590 Dec 12 1610 1610 1627/1599 Mar 13 1599 1596 1615/1586 May 13 1601 1597 1617/1591 COFFEE(US$/tonne) Close Prev High/Low Sep 12 2072 2065 2078/2058 Nov 12 2109 2104 2115/2094 Jan 13 2104 2100 2110/2091 Mar 13 2101
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    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1137 27 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 4 1 146 500 6.25 21 Conv Ratio Exer Baker Technology Ltd W*****6 1.2 1 32 7 25.83 3 Prem Best World Intl Ltd W*****5 0.3 1 30
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    • Article
      Lock icon INTERBANK CROSS RATES
      470 27 Aug 22 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.035 6.637 0.839 8.105 57.903 99.161 0.828 11.870 3.263 1.292 98.691 44.194 1.308 8.683 1.007 31.344 32.841 0.662 1.045 Canada 0.966 6.411
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    • Article
      Lock icon SIBOR
      56 27 Aug 22 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 1.***** 0.***** SWAP Offer rates (S$) 3 mths 0.***** 0.***** 0.***** SWAP Mid rates (S$) 12 mths 0.***** SWAP Mid rates (S$) 1
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    • Article
      Lock icon PRECIOUS METALS
      136 27 Aug 22 GOLD(US$/oz) Aug 22 Aug 21 Hong Kong 1648.00 1629.70 Aug 21 Aug 21 Aug 20 London 1639.08 1618.71 1639.92 1619.48 Source: Thomson Reuters CAST BAR Aug 22 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 156 65 5gm 443 324 10gm
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    • Article
      Lock icon GOVERNMENT SECURITIES
      90 27 Aug 22 Aug 22 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****E 22-Nov-12 0.25 0.20 0.2 6-Month BS*****H 21-Feb-13 0.26 1-Year BY*****T 02-May-13 0.25 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0H 0.25 01-Feb-14 100.02 5-Year
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    • Article
      Lock icon PALM OIL
      57 27 Aug 22 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 12 2935.0 2898.0 3008.0 2935.0 955 6428 Oct 12 2982.0 2928.0 3048.0 2982.0 7439 ***** Nov 12 3011.0 2962.0 3078.0 3010.0 ***** ***** Dec 12 3037.0 2985.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 27 Aug 22 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.3070 1.3082 1.0445 1.0453 Canadian dollar 1.2625 1.2636 1.0097 1.0090 Euro 1.5589 1.5592 1.2458 1.2459 NZ dollar 1.0122 1.0126 0.8089 0.8091 Sterling pound 1.9758 1.9764 1.5790 1.5792
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 27 As at 9am Aug 22 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.338 1.275 Can dollar 1.292 1.231 Euro 1.597 1.521 Sterling pound 2.011 1.934 NZ dollar 1.041 0.992 US dollar 1.269 1.221 Local dollars to 100 units of foreign
      121 words
    • Article
      Lock icon INTERBANK RATES
      160 27 Aug 22 $S Offer Bid 0vernight 0.03 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.05 US$ Offer Bid 7 days 0.25 0.15 1 month 0.40 0.20 2 months 0.45 0.25 3 months 0.55 0.35 6 months 0.85 0.65 9 months 1.05 0.85 12
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  • PROPERTY
    • Article, Illustration
      Lock icon Newark property gets a lift from port expansion
      1234 28 US$650m project fuels ventures into warehouse, industrial parks NYT [NEW YORK] In Newark’s Ironbound district, a developer broke ground last month on a US$50 million warehouse without a committed tenant a bold move and a sign of how much faith there is
      NYT; BLOOMBERG  -  1,234 words
    • Article
      Lock icon Househunt
      916 28 PROPERTY TRANSACTIONS FOR DISTRICTS 2 TO 28 WITH CONTRACT DATES BETWEEN JULY 25 AND JULY 31, 2012 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 2 NON-LANDED Eon Shenton Apt 26/07/2012 99 538 1235 2296 Int'l Plaza Apt 25/07/2012 99
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    • Article, Illustration
      Lock icon Banks shun swanky offices to save costs
      1154 29 Some relocate staff to cheaper sites while others lease out, sell prime space Reuters [LONDON] In summer 2007, French bank Societe Generale drew up plans for a stylish glass building to house 3,500 traders at the foot of its twin-tower headquarters in La
      Reuters; BLOOMBERG PHOTOS  -  1,154 words
    • Article, Illustration
      Lock icon Empire State Building IPO being challenged
      2042 30 Some legacy holders say they will be short-changed and lose a steady income stream Bloomberg [NEW YORK] Al Weiner’s stake in New York’s Empire State Building came to him by way of his grandfather’s death in a 1950 train crash in Richmond Hill, Queens.
      Bloomberg; BLOOMBERG  -  2,042 words
    • Article, Illustration
      Lock icon Sales in luxury property market rebound
      716 31  -  But growing number of unsold homes points to further price correction By MINDY TAN EVEN as investors stream back into the luxury property market, causing sales activity to almost double in the second quarter, further price correction may be in the offing given the
      FILE PHOTO; Source: Urban Redevelopment Authority (URA), Savills Research & Consultancy  -  716 words
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      Lock icon US housing-related assets becoming attractive
      486 31 Bloomberg [NEW YORK] Assets tied to US housing are attractive with the real estate market poised to reach a bottom, according to Pacific Investment Management Co (Pimco). “While Pimco’s basecase forecast is for national home prices to decline somewhat further before stabilising, we believe the
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      236 31 34 JOO KOON ROAD FOR SALE BY EXPRESSION OF INTEREST For Enquiries, Please Call 9 H 489 e 3 n i35 ee OrangeTee. Site Area: 4,920 sq m 52,958 sq ft (approx.) Existing GFA: 2,722 sq m 29,299 sq ft (approx.) Potential for redevelopment to GFA 6,888 sqm 74,141 sq
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      207 31 FOR SALE BY TENDER MACRITCHIE RESERVOIR LOWER PIERCE RESERVOIR PRESTIGIOUS ISLAND COUNTRY CLUB CROWN JEWEL OF THOMSON... THOMSON VIEW RARE DISTRICT 20 RESIDENTIAL SITE THOMSON VIEW “Commanding panoramic views of Nature Reserves, Prestigious Golf Courses and CBD Cityscape...” TenderClosingDate:4 September 2012 (Tue) 3pm Jeffrey Goh 9824 1292 6559 8871 (Email:
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