The Business Times, 1 January 2013

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Total Pages: 48
1 20 The Business Times
  • 20 1 THE BUSINESS TIMES www. usinesstimes.com.sg TUESDAY, JANUARY 1, 2013 S$1.00| S$1.00| MICA (P) 074/08/2012 sp!l A SINGAPORE PRESS HOLDINGS PUBLICATION
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  • 764 1  -  Economy grew 1.2% last year, below earlier 1.5% forecast By Lee U-Wen leeuwen@sph.com.sg Singapore THE Singapore economy expanded by just 1.2 per cent in 2012, below the government’s most recent forecast that full-year growth would come in at around 1.5 per cent. Revealing the
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  • 1340 1  -  Analysts predict slower Singapore market in 2013 By Cai Haoxiang haoxiang@sph.com.sg Singapore IT was a bull run in the year of the Dragon. Powered by beer froth, a resilient banking sector, conglomerate powerhouses and resurgent property stocks, the Singapore market rose 24
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  • Page 1 Advertisements
    • 78 1 the PRODUCTIVITY MATTERS Where guest satisfaction comes first 14-15 SINGAPORE STOCKS 2012 Low volume, high volatility yet again 16-17 SME Inc Connecting with customers 12-13 Window on 2013 BT S1 S20 The Business Times wishes its readers A Very Happy New Year Making industrial space more SME-friendly Colliers International throws
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    • 2 1 *****1 *****4
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  • TOP STORIES
    • MARKETS
      • 58 2 HSTI 3,167.08 (-24.72) HSTI FUTURES 3,167.00 (-25.00) HSIMSCI 359.31 (-2.02) HSIMSCI FUTURES 360.10 (-0.40) STOCKS Monday Change KL COMP 1,688.95 +7.62 NIKKEI 225(Fri)10,395.18 +72.20 HANG SENG 22,656.92 -9.67 SET(Fri) 1,391.93 -5.26 JAKARTA(Fri) 4,316.69 +34.83 MANILA(Fri) 5,812.73 +17.84 KOSPI(Fri) 1,997.05 +9.70 SHENZHEN B 711.23 +14.91 MUMBAI IND 19,418.10 -26.74 Friday’s
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      • 29 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.989 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.50 INDIA 14.50 Source: Bloomberg
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      • 48 2 US$ S$ US$ (S$ per US$) 1.222 (US$/S$ per 1.616 1.975 EURO(US$/S$/€) 1.320 1.614 Foreign currency per US$ S$ YEN 86.10 70.40 RM 3.059 2.502 HK$ 7.751 6.341 BAHT 30.61 25.04 RUPIAH 9,638 7,884 RENMINBI 6.229 5.096 INDIAN RUPEE 54.78 44.81 A$ 0.963 0.788 NZ$ 1.215 0.994
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    • 545 2  -  JPMorgan’s verdict means Japanese brewer will have to revise its $2.7b offer By Lynn Kan lynnkan@sph.com.sg Singapore THE Fraser and Neave (F&N) takeover story squeaks through a final twist before the year-end. F&N’s independent financial adviser JPMorgan (SEA) yesterday found Kirin Holdings’
      BLOOMBERG FILE PHOTO  -  545 words
    • 548 4  -  Consumer loans, however, pick up, thanks to strong housing and bridging loan segment By Andrea Soh sandrea@sph.com.sg Singapore GROWTH in bank lending continued on its overall downward trajectory in November, pulled down by a dip in loans to businesses. Consumer loans
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    • 606 4 Rebound comes amid higher govt spending, investment approvals Bloomberg Beijing CHINA’S manufacturing unexpectedly expanded at the fastest pace in 19 months in December, boosting optimism that a recovery in the world’s second-biggest economy is gaining traction. The final reading
      Bloomberg; PHOTO: AFP  -  606 words
    • 58 5 Top gainers company price chng from dec 31 dec 30 2012 2011 1 YHM 0.031 3000.0 2 GSH Corp 0.094 2250.0 3 TT Intl 0.168 1766.7 4 Blumont 0.300 1478.9 5 Innopac 0.076 1166.7 6 WE Hldgs 0.038 660.0 7 CEFC Intl 0.037 516.7 8 Rowsley 0.300 445.5 9 Interra
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    • 56 5 Top losers company price chng from dec 31 dec 30 2012 2011 1 OmegaNav 50 0.055 -83.8 2 APStrategic 0.172 -81.8 3 Contel 0.036 -78.2 4 Transcu 0.011 -78.0 5 Creative Master 0.011 -72.5 6 ChinaEssen 0.051 -63.0 7 SinoConst 0.027 -60.9 8 M Devt 0.013 -60.6 9 VGO Corp
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    • 330 5 CURR RANK DEC 31 2012 PREV RANK DEC 30 2011 mkt cap (S$m) dec 31 2012 chng from dec 30 2011 company 1 1 SingTel *****.4 6.8 2 2 Jardine Matheson *****.6 26.2 3 3 Jardine Strategic *****.2 20.8 4 4 Prudential PLC *****.5
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    • 663 6  -  This follows confusion over Forestville’s launch without URA’s approval to sell By Ong Chor Hao ongch@sph.com.sg Singapore THE executive condominium (EC) market could be coming under review, analysts said, in the wake of confusion over the launch of the Forestville project
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    • 692 6  -  Two-thirds of the 61 available suites taken within three months of their launch By Lee U-Wen leeuwen@sph.com.sg Singapore WHEN the new 55,000-seater National Stadium opens in April 2014, ANZ Singapore chief executive Vishnu Shahaney will be basking in its atmosphere, along with some of
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    • 542 7 But the underlying causes of the euro crisis have not been eliminated NEWS ANALYSIS NYT Frankfurt SAY what you will about the eurozone’s quarrelling policymakers. They can claim at least one achievement during 2012: Their common currency still has a heartbeat. A year ago, many
      NYT  -  542 words
    • 716 8  -  Patrick Cheung wants to prove that social entrepreneurship can work By Nisha Ramchandani nishar@sph.com.sg Singapore SERIAL entrepreneur Patrick Cheung cannot bury his real hobby, which is doing business. He used to clock 15-hour days growing his flexible packaging firm Propack. When the long hours
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    • 815 8 Hopes dim of compromise on ‘fiscal cliff’ as Jan 1 deadline looms NYT New York EVEN if President Barack Obama and Republicans in Congress can reach a last-minute compromise that averts some tax increases before Monday’s midnight deadline, experts still
      NYT; PHOTO: AP  -  815 words
    • 440 9  -  It hopes to speed up approvals, inject life into stock market By Julie Zhu btworld@sph.com.sg EJ Insight Hong Kong CHINA will ease rules for mainland companies seeking to launch initial public offerings (IPOs) in Hong Kong, in an apparent move
      EJ Insight  -  440 words
  • Page 2 Advertisements
    • 52 2 CONTENTS NEWS Top Stories 2-9 Companies 10 Singapore News 11 SME Inc 12-13 Productivity Matters 14-15 Focus: S’pore stocks 16-17 World 18-21 Aviation/shipping 22 Stocks Stats 25-29 WINDOW ON 2013 Joseph Stiglitz S2 Bill Gates S3 Christine Lagarde S4 Shinzo Abe S5 George Soros S11 Leon Panetta S15 Perspective 30-31
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  • Page 3 Advertisements
    • 79 3 BUYING OR RENTING A PROPERTY? We'll reward you with $888! Visit www.STProperty.sg/deal2win now for more information. Hurry, you have until 31 March 2013 to be one of our 8 lucky winners!' I vm m u W*y tel 52 J i 2 2 Z! B 5! ft -t 'Terms conditions apply
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  • Page 7 Advertisements
    • 1210 7 THE STRAITS TRADING COMPANY LIMITED (A member of the Tecity Group) (Company Registration No.: *****0008D) (Incorporated in Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of The Straits Trading Company Limited (“Company”) will be held at Straits Ballroom 3, Level 2, Rendezvous Grand
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  • Page 9 Advertisements
    • 11 9 CATS Recruit The first step on your ladder to success CLA/AUG06/g
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    • 59 9 The SME Magazine coming to you with your copy of The Business Times tomorrow! IN THIS ISSUE: 3@55@5" 397!( ,***** 2B9#92A.#@!A@2! 1$ 9<9#0*<@55@5" 218%95@.! 3B9A B9! 6#950@5" "1A A1 01 <@AB %#10?2A@>@A74 ,95 6?!@5.!!.! <B@2B 2B98%@15 !12@9: 29?!.! 9:!1 A?#5 @5 %#1$@A!4 31#=@5" @5 3?B95( 3B9A 71? 5..0 A1 =51<
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  • COMPANY NEWS
    • 562 10  -  STOCKS R Sivanithy sivan@sph.com.sg Senior Correspondent IN RESPONSE to signs from the United States that the country’s fiscal worries might not be solved before Jan 1, the Straits Times Index yesterday dropped 24.72 points to 3,167.08. For the year, the index posted a
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    • 356 10  -  By Mindy Tan tanmindy@sph.com.sg Singapore SC GLOBAL’S shares fell 7.5 cents or 3.9 per cent yesterday to $1.825 after chief executive Simon Cheong said he will not raise his offer price in his bid to take the company private. The stock declined as much
      Source: Bloomberg  -  356 words
    • 153 10 VOL CLOSE Memstar 93,531 8 8 0.9 1 1 .4 YHM 78,458 3 1 0.0 0.0 Dig i l and 65,412 0 1 0.0 0.0 JEP 64,450 4 -0.1 -2.4 JES 47,201 19 9 0.9 4.7 Ramba 40,515 60 21.5 55.8 MDR 37,181 1 3 0.0 0.0
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    • 111 10 Stock name Close Change CapMallsAsia 1.940 -0.010 CapitaLand 3.700 -0.050 CapitaMall 2.130 -0.020 CityDev 12.870 +0.040 ComfortDelGro 1.780 -0.015 DBS Grp 14.840 -0.140 F&N 9.700 +0.030 GLP 2.780 +0.040 Genting SP 1.385 -0.005 Golden Agri 0.650 -0.005 HK Land 6.990 -0.020 IHH Healthcare 1.350 -0.005 JMH 62.000 -1.600
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    • 61 10 BY CENTS CLOSE UP DBXT MSTHAI 10US$ 2069 59.9 2.4 DBXT S&P Short 10US$ 3560 42.8 1.0 DBXT MSKorea 10US$ 6190 28.1 0.4 STXPO 100 495 25.0 5.3 Ramba 60 21.5 55.8 UOB 5.05%NCPS 100 ***** 20.0 0.2 DBXT CSI300 10US$ 845 13.5 1.3 DBXT FTVietnam 10US$ 2186
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    • 55 10 BY CENTS CLOSEDOWN JMH 6200 -195.6 -2.5 JSH 3552 -130.8 -2.9 GLD 10US$ ***** -33.0 -0.2 DBXT MSTaiwan 10US$ 1816 -18.3 -0.8 Total Access 280 -18.3 -5.1 Great Eastern 1566 -18.0 -1.1 IS Asia BND 100US 1070 -15.9 -1.2 DBS Grp 1484 -14.0 -0.9 Jardine C&C 4815 -14.0
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    • 377 10 Bloomberg Singapore SINGAPORE property stocks, the best performers on the benchmark Straits Times Index last year, are set to extend their gains in 2013 on higher demand for homes, offices and hotels, according to UOB-Kay Hian. Six of the top 10 gainers
      Bloomberg  -  377 words

  • SINGAPORE NEWS
    • 317 11  -  Meanwhile, IE Singapore re-appoints Kho Hui Meng for a three-year term By Nisha Ramchandani nishar@sph.com.sg CHANGES and re-appointments have been made to the boards of the Singapore Tourism Board (STB) and International Enterprise (IE) Singapore. The STB board has a new
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    • 264 11 THE lower cost of electricity generation has pulled down the electricity tariff for the period from Jan 1 to March 31 this year by an average of 3.7 per cent. This is the third consecutive reduction since July last year, with tariff declines
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    • 264 11  -  By Arthur Lee arthurl@sph.com.sg IT says in big, red letters on the shop's shutters, “financial freedom, our priority”. But there is much more than meets the eye. Posted on the Ministry of Law’s Insolvency and Public Trustee’s Office website is a
      PHOTO: ARTHUR LEE  -  264 words
    • 255 11 SOME 800,000 Singaporean HDB households will receive $90 million worth of GST (Goods and Services Tax) Voucher Utilities-Save (U-Save) rebates this month. An eligible Singaporean household can receive one GST Voucher U-Save of up to $130 in January 2013, with the amount depending
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  • SME INC
    • 529 12 / 13  -  Service industry professionals say it’s actually all about connecting with customers, helping them understand their preferences, and sharing the passion for a product. By Mint Kang By Mint Kang IT’S often said that good service means acknowledging that the customer is always right. But
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    • 417 12 / 13 TEA connoisseur Charif Taieb is absolutely passionate about tea, and when a customer walks into the TWG tea salon and boutique in ION Orchard, he puts that passion to work, making the customer's encounter with tea special and memorable. His first step is getting to know his
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    • 412 12 / 13 WHEN you are a cuisine specialist at a restaurant, the first thing you absolutely must have before you can even start is an interest in food, said fromagere Jane Noel. And in a specialty café such as Jones the Grocer, there is a great deal to be
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    • 422 12 / 13 WHEN a new customer walks into the Penhaligon’s boutique in ION Orchard for the first time, the very first question fragrance specialist Christopher Sean Dawood asks of the customer is: “What is your relationship with fragrance?” It is a pertinent question, because Penhaligon’s perfumers formulate their fragrances
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  • Page 12 / 13 Advertisements
    • 65 12 / 13 HAVE an interesting story on an SME to share? Drop us a note on why you think the company should be featured in our weekly SME INC pages, with details such as how the company has grown and its expansion plans. Send your e-mail to Felda Chay at feldac@sph.com.sg with
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  • PRODUCTIVITY MATTERS
    • 1726 14 / 15  -  Fairmont Singapore and Swissôtel The Stamford have implemented new processes in the face of the manpower crunch to ensure that service levels are not compromised. By Teh Shi Ning HOTEL SECTOR By Teh Shi Ning tshining@sph.com.sg Technology is often touted as the path to rapid
      FILE PHOTO  -  1,726 words

  • FOCUS: SINGAPORE STOCKS
    • 1504 16 / 17  - Low volume, high volatility with maximum central bank presence R SIVANITHY tracks the highs and lows of the stock market's performance last year 2012 ~TEXT: R SIVANITHY T HIS time last year our annual wrap for 2011 was titled “A year of low volume and high volatility.” The same might
      ARTWORK: HYRIE RAHMAT; PHOTOS: AFP, AP, BLOOMBERG, REUTERS, BT FILE  -  1,504 words

  • WORLD
    • 507 18  -  Skilled Indonesian harvesters may head home to cash in on the substantial hike in minimum wage By S Jayasankaran Kuala Lumpur AN INTERNATIONAL daily has warned that Malaysia’s oil palm sector could come under pressure this year, as skilled Indonesian harvesters working
      PHOTO: REUTERS  -  507 words
    • 751 18 AFP Madrid SPAIN defied the markets by averting a sovereign bailout in 2012 but high interest rates could yet force Madrid to its knees as the nation confronts a 207 billion euro (S$333.6 billion) financing headache in 2013. The eurozone’s fourth-biggest economy has skirted
      AFP  -  751 words
    • 1144 19 From today, only US$250,000 in each non-interest bearing account is covered NYT New York ON the first day of the New Year, US$1.5 trillion of bank deposits will lose an unlimited government guarantee that was granted during the financial crisis to
      NYT  -  1,144 words
    • 140 19 AP Berlin GERMANY’S respected news weekly Der Spiegel has mistakenly published an obituary for former US president George HW Bush. The unfinished obituary appeared on Der Spiegel’s website for only a few minutes on Sunday before it was spotted by Internet users and removed. In
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    • 919 20 Former central bank head also had control over insurance industry in China NYT Shanghai RELATIVES of a top Chinese regulator profited enormously from the purchase of shares in a once-struggling insurance company that is now one of China’s biggest financial powerhouses,
      NYT; PHOTO: BLOOMBERG  -  919 words
    • 222 20 Bloomberg London UK executives’ confidence for 2013 improved in December 2012, indicating the risk of a tri-ple-dip recession has receded, according to Lloyds Bank. An index of business sentiment rose to 40 from 35 in November, the unit of Lloyds
      Bloomberg  -  222 words
    • 426 21 Top government adviser also calls for yuan to be allowed to move in a wider range to make it more flexible Reuters Beijing CHINA should cut banks’ reserve requirement ratios (RRR) in 2013 to support economic growth while widening the yuan’s floating range
      Reuters  -  426 words
    • 508 21 Reuters Beijing A PROMINENT group of Chinese academics has warned in a bold open letter that the country risks “violent revolution” if the government does not respond to public pressure and allow long-stalled political reforms. The 73 scholars, including well-known
      Reuters; PHOTO: AFP  -  508 words
    • 439 21 AP Washington THE top leaders in both parties on the House and Senate Agriculture Committees have agreed to a one-year extension of the 2008 farm bill that expired in October, a move that could head off a possible doubling
      AP; PHOTO: AFP  -  439 words

  • Page 19 Advertisements
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  • AVIATION/SHIPPING
    • 656 22 Tight budget and earlier failed attempt pose challenges AP Brownsville, Texas TEXAS space aficionados hope rockets will someday be launched into orbit from a beachside site near the US-Mexico border, but a tight state budget and a previously frustrated attempt
      AP  -  656 words
    • 412 22 Bloomberg New York ROYAL Dutch Shell plc said an Arctic drilling barge, headed to Seattle for maintenance, was safely recovered on Saturday after being set adrift during a storm in the Gulf of Alaska. Crew of the Shell-owned barge, Kulluk, were evacuated on Saturday
      Bloomberg; PHOTO: AP  -  412 words
  • Page 22 Miscellaneous
    • 316 22 Across Damn the two of them, getting European allowance (11) 9 Social climber’s winning way, and skill (7) 10 One of four children aboard liner forming teams (6) 12 Quickly run out by a league member (7) 13 Carry on suits an eccentric (7) 14 Measures of energy in sleep
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  • 1678 23 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 n GLOBAL SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W Malaysia, Indonesia MIDDLE-EAST SERVICE CONVENTIONAL, BREAKBULK PROJECT Destination STXPO TBN Camden/New
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  • Page 23 Advertisements

  • Page 24 Advertisements
    • 31 24 Legal services required by shippers owners Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327. The Business times Shipping Times advs nv
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  • 8001 25 Transaction date: Dec 31 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 15 11.4 8Telecom 15 10.8 16.5 66.8 0.3 3.6 71.8 6 3 A-Sonic 3.5 3.2 3.6 3.7 25.1 AAT 2 halt
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  • 1866 28 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 14 t 800 Super 20 +0.7 130 20 19.3 19.3 20 3.3 5 6 35.8 4 3 t AA Grp 3.1 2.6 4 3
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  • 186 28 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 9 3 0 0 0 4 9 3 Manufacturing 40 55 36 9 4 13 49 59 49 Commerce 14 25 19 3 3 3 17 28 22 Tpt/Stor/Comms 12 14 10
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  • 123 28 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 15,115 15,115 58,562 58,562 Manufacturing 355,962 121,119 477,081 151,372 3,544 154,917 Commerce 183,569 16,235 199,804 94,651 667 95,319 Tpt/Stor/Comms 106,130 11,705 117,835 144,953 3,596 148,548 Finance 54,143 104 54,247 171,216 43 171,259 Construction 62,994 78,806
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  • 782 28 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Dec 31 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Olam Int'l 28-Dec-12 Temasek Capital Buy 5 1.54 *****9 18.99 *****4 19.00 Olam Int'l 28-Dec-12 Seletar Investm
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  • MARKETS
    • 80 29 Dec 28 COCOA (£/tonne) Close Prev High/Low Mar 13 1438 1441 1448/1433 May 13 1445 1448 1454/1441 Jul 13 1456 1459 1462/1453 Sep 13 1465 1466 1473/1461 COFFEE(US$/tonne) Close Prev High/Low Jan 13 1961 1960 1971/1945 Mar 13 1911 1920 1925/1904 May 13 1919 1928 1932/1913 Jul 13 1924
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    • 67 29 Dec 31 GOLD(US$/oz) Dec 28 Dec 31 Hong Kong 1671.00 1672.30 Dec 27 Dec 28 London 1662.04 1655.82 1663.26 1656.61 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 37.24 36.60 Source: UOB PLATINUM /Lon (US$/oz) Dec 28 Close Previous PM Fix 1527.00 1536.00 AM Fix 1530.00 1538.00 Source:
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    • 57 29 Dec 28 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 13 2339.0 2350.0 2382.0 2331.0 262 5068 Feb 13 2433.0 2431.0 2468.0 2421.0 2414 ***** Mar 13 2470.0 2481.0 2515.0 2467.0 ***** ***** Apr 13 2523.0 2532.0
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    • 86 29 Dec 31 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****X 04-Apr-13 0.26 6-Month BS*****W 27-Jun-13 0.26 1-Year BY*****X 01-Nov-13 0.27 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0N 0.25 01-Oct-14 101.91 101.97 101.91 5-Year N*****0Z 2.375
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    • 154 29 Dec 31 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2686 1.2694 1.0379 1.0384 Canadian dollar 1.2281 1.2288 1.0051 1.0047 Euro 1.6134 1.6138 1.3200 1.3201 NZ dollar 1.0060 1.0066 0.8230 0.8234 Sterling pound 1.9750 1.9758 1.6158 1.6162
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    • 95 29 As on 28 December 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE PRECIOUS METAL GOLD FUT FEB2013 1664.50 1655.60 1656.00 INDIA GOLD (E-GOLD) FUT FEB2013 558.15 555.50 556.40 CURRENCY EUR-USD FUT MAR2013 1.3265 1.3176 1.3229 BASE METAL COPPER FUT MAR2013 7965 7916 7914 INDEX IRON ORE (MBIO) IDX
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    • 103 29 Dec 28 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jan 13 1424.00 1418.75 1431.75 1417.50 Mar 13 1418.00 1414.00 1427.25 1412.75 May 13 1409.50 1405.00 1417.25 1405.00 Jul 13 1407.25 1401.50 1412.00 1401.50 SOYBEAN/OIL(60,000 lbs; USc/lb) Close Previous High/Low Jan 13 48.94 48.29 49.06 48.40
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    • 68 29 Dec 28 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 110.08 -0.18 WTI (Near Mth) 91.06 unch Dubai (1-Mth F) 105.86 -0.31 Tapis blend 116.15 -0.29 Minas 108.73 -0.29 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 105.44 -1.39 Jet Kerosene 126.5 -0.13 US$/barrel OpecOil Basket Price 108.03
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    • 118 29 Dec 31 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.302 1.240 Can dollar 1.257 1.198 Euro 1.655 1.577 Sterling pound 2.013 1.936 NZ dollar 1.040 0.982 US dollar 1.247 1.188 Local dollars to 100 units of foreign currency: Currencies Sell
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    • 69 29 Dec 28 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2030.75 2046.00 3 months 2063.00 2080.00 Copper, Grade A (US$/tonne) Cash 7866.50 7893.00 3 months 7887.00 7915.00 Lead (US$/tonne) Cash 2318.00 2318.50 3 months 2335.00 2336.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
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    • 373 29 In local curr In S$ In US$ dy yr dy yr dy yr Dec 28 Index Change Change Change Change Change Change World Preliminary 932.8 -0.4 12.4 -0.3 6.2 -0.4 12.6 EAFE Preliminary 775.1 -0.3 13.6 -0.2 7.2 -0.2 13.7 Europe Preliminary 1147.5 -0.7 11.8
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    • STOCK MARKETS
      • 19 29 YTD change:+19.68% 52-week high: 3,195.74 on Dec 28,2012 52-week low: 2,646.35 on Dec 30,2011 Source: Bloomberg
        Source: Bloomberg  -  19 words
      • 21 29 YTD change: +22.91% 52-week high: 22,718.83 on Dec 27, 2012 52-week low: 18,056.40 on June 4,2012 Source: Bloomberg
        Source: Bloomberg  -  21 words
      • 21 29 YTD change: +3.17% 52-week high: 2,478.38 on Feb 27,2012 52-week low: 1,949.46 on Dec 4,2012 Source: Bloomberg
        Source: Bloomberg  -  21 words
      • Article, Illustration
        24 29 YTD change: +22.94% 52-week high: 10,433.63 on Dec 28,2012 52-week low: 8,238.96 on June 4,2012 (Chart shows Friday’s index closing) Source: Bloomberg
        Source: Bloomberg  -  24 words
      • 26 29 YTD change: +5.90% 52-week high: 13,661.87 on Oct 5,2012 52-week low: 12,035.09 on June 4,2012 (Chart shows Friday’s index closing) Source: Bloomberg
        Source: Bloomberg  -  26 words

  • PERSPECTIVE
    • 1030 30 / 31  -  The statute sets the minimum standard of data protection that firms should abide by, but setting the bar higher may reap benefits. By Ken Chia and Koh See Khiang By Ken Chia, Koh See Khiang ~Ken Chia is associate principal and Koh See
      PHOTO: ST  -  1,030 words
    • 908 30 / 31  -  The death of a student after a brutal assault and rape has galvanised a nation into taking a long, hard look at how crimes against women have been woefully handled Yogi Aggarwal ~The writer is a Mumbai-based journalist who contributes regularly to
      PHOTO: REUTERS  -  908 words

  • PROPERTY
    • 916 32  -  Stagnating during the past 5 years, with 2012 particularly poor, the real estate sector is likely to get worse unless the government steps in. By Le Phuong and Thuy Anh By Le Phuong, Thuy Anh Xinhua Hanoi VIETNAM’S real estate market has
      Xinhua; PHOTO: REUTERS  -  916 words
  • Page 32 Advertisements
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    • 68 32 i i v*. Vn REAL5TAR "a THE LEADING BUNGALOW SPECIALIST Winner, Singapore Prestige Brand 2009 Call Now: 6100 0080 A Classic Quaint GCB with more than 20yrs old history. Rare plot. Expand your creativity, challenge your passion for innovation. Land ***** sqft approx Built 4000sqft approx Asking $20m A Modern
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    • 208 1 Technology will improve the lives of even the poorest people. By Bill Gates S3 2013 offers a chance to shape the world for the better with a broader view and cooperation. By Christine Lagarde S4 Japan must reinvest with the US to build its ties with China. By Shinzo Abe
      208 words

  • BT Window on 2013
    • 1083 2  -  On both sides of the Atlantic, the polarised politics of bravado and brinkmanship will slow down the global economy’s recovery. By Joseph E Stiglitz By Joseph E Stiglitz ~Joseph E Stiglitz, a Nobel Laureate in economics, is University Professor at Columbia University. His most recent
      PHOTO: AFP  -  1,083 words
    • 919 3  -  Momentum will build and pieces will fall into place eventually, technological innovation will improve the lives of the poorest people in the world. By Bill Gates By Bill Gates ~Bill Gates is co-chair of the Bill Melinda Gates Foundation Seattle USUALLY, “optimism” and “realism” are used to
      PHOTO: BLOOMBERG  -  919 words
    • 904 4  -  2013 offers a chance to put the economic crisis behind and shape the world for the better, but to achieve that, a broader view and cooperation among nations are crucial. By Christine Lagarde By Christine Lagarde ~Christine Lagarde is managing director, International Monetary Fund WashingtonAS the
      PHOTO: STOCK.XCHNG  -  904 words
    • 1015 5  -  To improve Sino-Japanese relations, Japan must first anchor its ties on the other side of the Pacific. By Shinzo Abe ~Shinzo Abe is Prime Minister-elect of Japan and president of the Liberal Democratic Party. He also served previously as Japan’s prime minister (2006-2007). He wrote this
      PHOTO: AP  -  1,015 words
    • 926 6  -  If policymakers and regulators do not strengthen their reform efforts, taxpayers and shareholders will be the ones who suffer the consequences of the next crisis. By Anat Admati ~Anat Admati, professor of finance and economics at the Stanford Graduate School of Business, is a co-author of
      PHOTOS: STOCK.XCHNG  -  926 words
    • 1079 7  -  This economic-growth model will persist as long as existing elites are able to maintain it and benefit from it. By Daron Acemoglu and James A Robinson By Daron Acemoglu, James A Robinson ~Daron Acemoglu, a professor of economics at MIT, and James A Robinson, a professor
      PHOTO: AP  -  1,079 words
    • 947 8  -  The region’s ongoing transformation requires mitigating any global economic slowdown caused by new shocks and determined efforts to reduce global imbalances. By Haruhiko Kuroda and Changyong Rhee By Haruhiko Kuroda, Changyong Rhee ~Haruhiko Kuroda is president of the Asian Development Bank. Changyong Rhee is chief economist, Asian
      PHOTO: REUTERS  -  947 words
    • 1054 9  -  The French economy needs to generate stronger, more inclusive growth, while Europe needs more solidarity to overcome the crisis and complete the eurozone integration process. By Pierre Moscovici By Pierre Moscovici ~Pierre Moscovici is France’s Minister of the Economy and Finance Paris
      FILE PHOTO  -  1,054 words
    • Article, Illustration
      1005 10  -  In Europe, where national economic failure once led to the collapse of democracy itself, people are now asking if it could happen again. By Mark Mazower By Mark Mazower ~Mark Mazower is professor of History at Columbia University. His most recent book is Governing the World: The History
      PHOTO: AFP  -  1,005 words
    • 1172 11  -  The continent’s prolonged financial crisis is creating a crisis of values that is now threatening the European Union itself. By George Soros By George Soros ~George Soros is chairman of Soros Fund Management and of the Open Society Foundations New York XENOPHOBIA and extremism are symptoms
      PHOTO: AFP  -  1,172 words
    • 1073 12  -  As emerging economies continue to grow, their share of the world economy will continue to rise, boosting global growth beyond what it otherwise would be. By Jim O’Neill By Jim O’Neill ~Jim O’Neill is chairman of Goldman Sachs Asset Management and a member of the board of
      PHOTO: AP  -  1,073 words
    • 1025 13  -  Countries such as Brazil, India and China should weather the current eurozone storm if they maintain high savings, invest in human capital and improve governance. By Kaushik Basu By Kaushik Basu ~Kaushik Basu is chief economist and senior vice-president of the World Bank and Professor of
      PHOTO: REUTERS  -  1,025 words
    • 1100 14  -  By focusing on economic fundamentals and making bold structural changes, Brazil today is one of the world’s major economies with low unemployment. By Guido Mantega unemployment.By Guido Mantega ~Guido Mantega is Minister of Finance of Brazil Brasilia LARGE emerging economies were hit hard in the past year
      PHOTO: AFP  -  1,100 words
    • 1577 15  -  Winds of change from the US are blowing across the world to ensure that the region benefits from a secure and prosperous Asia-Pacific as we have been enjoying for nearly 70 years. By Leon E Panetta years.By Leon E Panetta ~Leon E Panetta is United States Secretary
      PHOTO: REUTERS  -  1,577 words
    • 1013 16  -  The US must show leadership in promoting free and fair trade for all the world’s nations. By Peter D Sutherland ~Peter D Sutherland is a former director-general of GATT and the World Trade Organization Istanbul THE Doha Round of global trade talks appears to
      PHOTO: REUTERS  -  1,013 words
    • 992 17  -  There is a way out of the wilderness which is the Middle East of today, but for that to happen, a constructive mindset must take root. By Turki bin Faisal al-Saud By Turki bin Faisal al-Saud ~His Royal Highness Turki bin Faisal
      PHOTOS: REUTERS, AFP, AP  -  992 words
    • 902 18  -  Collateral damage of innocent Pakistanis fans the flames of enmity towards the West.By West.By Imran Khan ~Imran Khan is the leader of Pakistan’s Tehrik-i-Insaaf opposition party and a former leading international cricketer Lahore ALTHOUGH 2012 saw an accelerating drawdown of United States and NATO forces’
      FILE PHOTO  -  902 words
    • 1039 19  -  If the big shots in Wall Street get burned the same way the man in the street holding the dud stock certificates does, then accountability and transparency will be all the buzz in boardrooms today. By Nassim Nicholas Taleb By Nassim Nicholas
      PHOTO: AFP  -  1,039 words
    • 1048 20  -  With the return of Vladimir Putin to the Russian presidency last year, Russia’s future is in danger of being blighted by an autocratic leader who has nothing new to bring to the political table. By Nina L Khrushcheva By Nina L Khrushcheva ~Nina L Khrushcheva,
      PHOTO: AP  -  1,048 words