The Business Times, 7 August 2013

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Total Pages: 32
1 32 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Wednesday, August 7, 2013
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  • 844 1  -  SingTel, StarHub and M1 strike back hard in fight against falling ARPUs By JOYCE HOOI [SINGAPORE] IN the battle for data revenue, all three telcos are striking back hard. SingTel has become the first local operator to team up with the industry’s t
    FILE PHOTO  -  844 words
  • MARKETS DIGEST
    • 65 1 HST INDEX 3,224.89 (-16.90) HST INDEX FUTURES 3,204.00 (-17.00) HSIMSCI 367.99 (-2.88) HSIMSCI FUTURES 365.30 (-3.70) US$ S$ US$ (S$ per US$) 1.268 (US$/S$ per 1.536 1.947 EURO (US$/S$/€ 1.326 1.681 Foreign currency per US$ S$ YEN 98.40 77.60 RM 3.241 2.556 HK$ 7.756 6.117 BAHT 31.41 24.77 RUPIAH
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    • 47 1 Tuesday Change KL COMP 1,784.64 -0.50 NIKKEI 225 14,401.06 +143.02 HANG SENG 21,923.70 -298.31 SET INDEX 1,429.39 +5.08 JAKARTA COMP Closed MANILA COMP 6,420.78 -88.95 SEOUL COMP 1,906.62 -9.60 SHENZHEN B 797.31 +8.38 MUMBAI IND 18,733.04 -449.22 12noon EDT Change DOW 15,519.43 -92.70 NASDAQ 3,665.87 -27.08
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    • 21 1 SINGAPORE 5.38 MALAYSIA INDONESIA HONG KONG TAIWAN INDONESIA 13.416 TAIWAN 5.036 JAPAN 1.475 SWITZERLAND 9.33 INDIA 0.50 Source: Bloomberg
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  • 654 1  -  By KALPANA RASHIWALA [SINGAPORE] Kwek Leng Beng, executive chairman of City Developments, says that unless the global and domestic economies rebound strongly and curbs on foreign buyers for private residential property sales are reviewed, the group expects some oversupply in the Singapore
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  • Page 1 Advertisements
    • 109 1 S’PORE NEWS Lee Kuan Yew launches new book APPOINTMENTS WDA chief to take over as CPIB director LAND TRANSPORT Toyota back as top parallel import make, model PAGE 21 COMMENTARY Preparing for a new normal in employment PAGE 22 PAGE 2 PAGE 9 8 *****1 *****4 Deutsche Bank db.com Global
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  • TOP STORIES
    • 378 2 S’pore telcos launch concerted gambit in OTT game IN the battle for data revenue, all three telcos are striking back. SingTel has become the first to team up with WhatsApp. StarHub will do the same with an unnamed service and M1 has thrown its lot in with Rich
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    • 474 2  -  Current head and his predecessor issued warning letters over supervisory lapses By NISHA RAMCHANDANI [SINGAPORE] A new director has been appointed to head the Corrupt Practices Investigation Bureau (CPIB) from Oct 1, while formal warning letters have been issued to
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    • 436 2  -  By JULIE ZHU [HONG KONG] China’s planned relaunch of the long-awaited government bond futures, which could come as early as September this year, will help boost liquidity and offer a price discovery tool in the nation’s fast growing fixed-income markets.
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    • 501 4  -  While US-based carriers rose 12% in July, Asian stocks declined: Iata By NISHA RAMCHANDANI [SINGAPORE] Global airline share prices underperformed the broader market in July, due to poor performance from Asia-Pacific carriers, according to a report. Worldwide airline share prices were
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    • 578 4  -  By PAULINE NG in Kuala Lumpur THE shareholders of Malays i a s fi rs t o il p a l m farm-sharing scheme, scrapped 18 years before its planned expiry, have exited with their initial capital and a 48 per cent
      PHOTO: BLOOMBERG  -  578 words
    • 731 4  -  DPM: It’s the ‘right’ approach, with capable, trustworthy people on its board By LEE U-WEN [SINGAPORE] The government is careful not to have any role or influence in the investment decisions that Temasek Holdings makes an approach that Deputy Prime Minister Tharman Shanmugaratnam has
      PHOTO: RAJ NADARAJAN/THE STRAITS TIMES  -  731 words
    • 793 4  -  Q2 net up 48% to $204m, 8 cent dividend to be paid By KALPANA RASHIWALA [SINGAPORE] After posting a 48 per cent year-on-year increase in second quarter net profit to $203.8 million and rewarding shareholders with an 8 cents per share special interim ordinary dividend
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  • Page 3 Advertisements
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  • COMPANY NEWS
    • 473 5  -  Turnover in three segments slips but CEO points to strong pipeline ahead By MALMINDERJIT SINGH SEMBCORP Industries reported a second-quarter net profit of $165.4 million, down 13.3 per cent from $190.7 million a year ago. Including non-control-ling interests, net profit was $226.4
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    • 341 5 Oilseeds unit swings back to the black but lower palm oil prices drive sales down 5% Bloomberg [HONG KONG] Wilmar International Ltd, the world’s largest palm oil trader, said second-quarter profit rose 87 per cent on increased sales volumes and after its oilseeds unit swung
      Bloomberg  -  341 words
    • 430 5  -  By ANDREA SOH IN spite of a 25 per cent drop in revenue, water solutions firm Hyflux Ltd managed to maintain its earnings in the second quarter as it reined in costs. The firm made net profit of $17.7 million, up one per
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    • 432 7  -  By RONNIE LIM ROTARY Engineering, which has emerged from its Saudi Satorp project woes, yesterday posted a secondquarter net profit of S$5.1 million, against S$1.03 million a year ago. This was achieved on revenue of S$126.2 million, up 13 per cent
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    • 227 7  -  By NG ZHUO YANG LUXURY watch retailer The Hour Glass Ltd posted a net profit attributable to shareholders of $8.8 million for its first quarter ended June 30, 2013, down 6 per cent from $9.35 million a year ago, on the back
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    • 284 7  -  ,By NELSON LEE OFFSHORE marine vessel and equipment company Vallianz Holdings yesterday reported a 29 per cent fall to US$1.89 million in second-quarter net profit attributable to shareholders. This compares with US$1.47 million a year ago. Including non-control-ling interests, the AprilJune quarter recorded
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    • 507 7  -  Quarter saw operating revenue down marginally at $586.8 million By JOYCE HOOI STARHUB yesterday posted a 15.9 per cent increase in net profit to $100.6 million for the second quarter ended June 30, 2013. Operating revenue for the same period stood at $586.8 million,
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    • 567 8  -  Ebitda flat on lower win percentage in premium players’ business By GRACE LEONG GENTING Singapore’s sec-ond-quarter net profit attributable to shareholders edged up one per cent year-on-year to $140.2 million as revenue climbed by a similar rate to $707.9 million. Earnings
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    • 625 8  -  It cites plant closure costs, weak demand in wireless comms By AMIT ROY CHOUDHURY PLANT closure costs and a weak demand in the wireless communications market resulted in semiconductor packaging and testing provider STATS ChipPAC posting a second-quarter net loss of US$52.2 million. STATS’
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    • COMPANY BRIEFS
      • 84 8 NERA Telecommunications said profit after taxation for its second quarter was $10.5 million over three times the $3.3 million it made a year ago. This was mainly due to the negative goodwill arising from the acquisition of the remaining 70 per cent equity interest
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      • 75 8 INVESTMENT company Transpac Industrial Holdings swung to a $2 million net profit in the second quarter ended June 30, after posting an $8.8 million loss in the same period last year. This was largely on the absence of impairment losses of $10.6 million from
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      • 62 8 IT firm DMX Technologies Group reported US$4.1 million net profit for the second quarter ended June 30, 14.1 per cent lower than last year’s US$4.7 million. Although the company generated higher revenues and gross profits, it was unable to offset an increase in expenses.
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      • 90 8 SEMICONDUCTOR company UMS Holdings posted a 3 per cent improvement in second quarter earnings to $7.8 million from last year’s $7.6 million. For the period ended June 30, revenue dipped 10 per cent to $32.8 million amid a weaker global economy, but the bottom
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      • 66 8 WASTE management company 800 Super Holdings has won a contract from the National Environmental Agency worth $160.6 million to provide waste collection services in the Ang Mo Kio/Toa Payoh sector. The contract starts next year and will run for seven years and nine months. It
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      • 66 8 SING Investments and Finance Limited saw net profit drop 24.4 per cent to $2.6 million for the second quarter ended June, while revenue rose 8.6 per cent to $11.6 million. This was largely due to the persistently low interest rate environment, coupled with intense market
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      • 54 8 BBR HOLDINGS saw net profit dip 4.7 per cent to $2.8 million for the second quarter ended June, while revenue rose 76.5 per cent to $104.3 million, with higher revenue recognised from general construction and specialised engineering projects, and partially offset by lower
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    • 552 8  -  By JACQUELYN CHEOK CCM Group Ltd announced yesterday it would raise up to $41 million from the issue of warrants and exchangeable notes, as it plans diversification beyond construction to property development. CCM is proposing a two-stage issue of about
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    • 359 8  -  By CAI HAOXIANG TRADING firm Intraco Ltd announced a $389,000 net profit for the six months ended June 30, up almost five times from $81,000 the same period a year ago. Gross profit was down 37.8 per cent to $1.9 million due to
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    • 330 8  -  By CARINE LEE HONG LEONG Finance’s net profit rose 18.4 per cent year-on-year to $17.4 million from $14.7 million, for the fiscal second quarter ended June 30, 2013. Interest income and hiring charges increased 8.1 per cent to $62.43 million from $57.76 million,
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    • 312 8  -  By ANNABETH LEOW MARINE service provider Swissco Holdings saw both revenue and net profit fall by 51.8 per cent for the second quarter, due to a drop in repair and maintenance jobs and with fewer vessels available for charter. Revenue stood at $10.4
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    • 309 8  -  By CAI HAOXIANG SHARES in Innopac Holdings were up 4.3 per cent to 14.5 cents a share yesterday on news that it has raised $30.8 million from a New York hedge fund. Innopac will issue 250 million new ordinary shares to Platinum
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  • SINGAPORE MARKETS
    • 621 6  -  Uncertainty over timing of Fed tapering also contributes to STI’s 16.9-point fall STOCKS R SIVANITHY Senior Correspondent A WEAK session for Hong Kong, largely because of the disappointment over HSBC’s earnings and a soft opening for Europe in the late afternoon, brought pressure to bear
      Source: Bloomberg  -  621 words
    • 73 6 Aug 6 VALUE CLOSE BT OB/OS -386.00 -46.00 BT CADI -*****.00 -56.00 BT 10-day MA -*****.00 -39.00 FTSE ST Mid Cap 761.29 -2.86 FTSE ST Small Cap 561.92 -3.08 FTSE ST All Share 788.40 -3.95 FTSE ST China Top 200.07 -0.98 FTSE ST China 231.13 -0.81 FTSE
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    • 55 6 VOLUME Innopac 501,481,000 HanKore 83,755,000 Rex Intl 57,652,000 Aussino 52,794,000 Albedo 42,433,000 YHM 39,264,000 NexGenSCom 36,400,000 Golden Agri 33,957,000 WE Hldgs R 32,895,000 Thai Beverage 29,216,000 VALUE($) Innopac 74,526,567 DBS Grp 62,586,770 SingTel 60,055,068 OCBC Bk 41,239,440 Rex Intl 36,863,010 UOB 36,030,640 Keppel Corp 32,987,543 JMH 32,078,806
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    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 8 1 0 0 0 4 8 1 Manufacturing 52 50 43 6 9 7 58 59 50 Commerce 18 18 21 7 4 2 25 22 23 Tpt/Stor/Comms 12 20 9
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    • 856 6  -  Compiled by JOYCE HOOI Yongnam Holdings Aug 6 close: S$0.285 Maybank Kim Eng Research, Aug 6 Q2 2013 results were mostly within expectation, including a one-off S$5.1 million provision for the Alpine Bau MRT project, which hit the bottom line. Excluding this item, net profit would be up
      Source: Bloomberg  -  856 words
    • 123 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 11,784 11,784 51,138 51,138 Manufacturing 255,264 30,419 285,683 123,674 1,874 125,549 Commerce 161,005 98,268 259,273 95,603 3,660 99,263 Tpt/Stor/Comms 122,493 29,344 151,837 136,399 11,194 147,592 Finance 519,642 10,540 530,182 227,922 4,275 232,197 Construction 69,403 58,327
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    • 114 6 Stock name Close Change CapMallsAsia 1.990 CapitaLand 3.260 -0.020 CapitaMall 2.010 -0.010 CityDev 10.68 -0.020 ComfortDelGro 1.990 -0.010 DBS Grp 17.09 -0.310 GLP 2.880 +0.010 Genting SP 1.335 -0.015 Golden Agri 0.520 -0.005 HK Land 6.980 -0.020 HPH Trust US$ 0.735 JMH 53.95 +0.950 JSH 33.45
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    • 489 6 CURRENCIES Reuters [LONDON] The Australian dollar rose yesterday after the Reserve Bank of Australia (RBA) cut interest rates as expected and gave no clear steer that it would ease policy further, disappointing some who had positioned for it. The euro climbed against the US
      Reuters; PHOTO: BLOOMBERG  -  489 words
    • 114 6 BY CENTS CLOSE UP DBXT USDIGInfl 5US$ ***** 426.0 1.3 JMH 5395 120.4 1.8 Lyxor EmergingMkts 1 983 30.4 2.5 STXPO 100 285 30.0 11.8 UOB 5.05%NCPS 100 ***** 24.0 0.2 DBXT MSAsExJp 10US$ 3190 12.7 0.3 UOI 433 11.0 2.6 Rex Intl 67.5 9.0 15.4 IS Asia BND
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    • 136 6 BY CENTS CLOSE DOWN DBXT Nifty 10US$ 9239 -426.0 -3.5 GLD 10US$ ***** -235.8 -1.5 Hyflux 6% CPS 10 ***** -59.0 -0.5 DBXT FTChina25 10US$ 2673 -57.1 -1.7 DBXT MSINDIA 10US$ 756 -50.7 -5.0 DBXT MSTHAI 10US$ 1978 -41.8 -1.6 DBS.ES.1308 1707 -41.0 -2.3 SPDRS S&P 500 10US$ *****
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    • 5 6 DAILY
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  • Page 7 Advertisements
    • 162 7 16 1 8 August y –Sunday Frida 2013 EVERY PIECE A CHANGE FOR THE BETTER Bring your family to Marina Bay Sands®this August and join us for a weekend of celebration and extravaganza, as Sands for Singapore and six charities bring you three days of exciting fund-raising activities and fun-filled
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  • SINGAPORE NEWS
    • 542 9  -  400-pager gives ‘unvarnished account’ of his frank opinions on international politics By LEE U-WEN FORMER prime minister Lee Kuan Yew launched his latest book, One Man’s View of the World, yesterday at the Istana. In his own words, this 400-pager is an
      PHOTO: ALPHONSUS CHERN/THE STRAITS TIMES  -  542 words
    • 315 9  -  Keppel Centre for Art Education is integral part of National Art Gallery By MALMINDERJIT SINGH KEPPEL Corporation yesterday celebrated its 45th anniversary and the group marked the festivities with a commitment of $12 million to the National Art Gallery’s centre for art
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    • 616 9  -  Vibease raises $20,000 in 24 hours for ‘world’s first smart vibrator’ By ANNABETH LEOW A SINGAPORE-BASED sex toy startup raised $20,000 in crowdfunding within 24 hours of its launch early last Tuesday morning. Vibease, co-founded by Singapore residents Dema Tio and Steven Kik, originally
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    • 617 9  -  Most common is for front-to-rear collision during rush hour By SAMUEL EE CAST aside your prejudice against women drivers, men they’re definitely not worse than men when it comes to causing a fenderbender. According to Aviva, male and female drivers
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    • 302 9  -  By GRACE LEONG THE Singapore Land Authority yesterday obtained judgment against the wife of Koh Seah Wee, its former deputy director, as part of its efforts to recover $12.2 million in damages as a result of a conspiracy to cheat the agency.
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  • Page 9 Advertisements
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  • FORWARD THINKERS
    • 1390 10  -  SIMTech’s endgame is to enhance the competitiveness of the manufacturing industry, reportsMALMINDERJIT MALMINDERJIT SINGH SINGAPORE’S manufacturing industry has transformed substantially over the last 30 years. The emergence of lower cost centres such as China and Vietnam has forced the industry here to move up the value chain.
      FILE PHOTOS  -  1,390 words

  • Page 11 Advertisements
    • 670 11 o r n A n il iiaaii if C :ir a Mobile isn’t a device. It’s data aa ((<• •>)) There are four times as many tnohile phones in use today as there are personal computers and tablets—and twice as matty as there are TVs. V 12 -oA typical mobile
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  • MALAYSIA/INDONESIA
    • 579 12 CEO will lead management team that worked with him in F&N [PETALING JAYA] The first food and beverage (F&B) special purpose acquisition company (SPAC), named Red Sena Bhd, is expected to hit the market sometime by early next year and will be led
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    • 421 12 Open bidding keeps prices competitive, it says, to claims of unfair advantage [KUALA LUMPUR] Tenaga Nasional Bhd (TNB) has defended its move in competing for new power projects, saying the open bidding process ensures winning bidders make reasonable market returns and customers
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    • 448 12 Reuters [SINGAPORE] Tin shipments from Indonesia, the world’s top exporter of the metal, have been delayed in the past month as producers and their customers clash with the government over an overhaul of Indonesia’s tin export rules, traders said yesterday. The shortage in
      Reuters; PHOTO: BLOOMBERG  -  448 words
  • Page 12 Advertisements
    • 11 12 CLA/AUG06/g CATS Recruit The first step on your ladder to success
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    • 1260 12 >®' WATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices Contel CONTEL CORPORATION LIMITED (Company Registration No.: *****) (Incorporated in the Bermuda) NOTICE OF SPECIAL GENERAL MEETING NOTICE IS HEREBY GIVEN that a Special General Meeting of Contel Corporation Limited (the “Company”) will be held at 80 Robinson Road, #10-01 A,
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  • GREATER CHINA/INDIA
    • 582 13 Deceleration comes amid Beijing’s worry about runaway credit growth and the risk of a debt crisis Reuters [SHANGHAI] Growth of China’s trust sector, the largest component of the country’s so-called shadow banking system, slowed markedly in the second quarter after a government clampdown on
      Reuters  -  582 words
    • 552 13 Reuters [MUMBAI] India named Raghuram Rajan, a prominent former International Monetary Fund chief economist who in 2005 predicted the global financial crisis, to lead its central bank as the country struggles to defend a rupee that hit a record low yesterday. Mr
      Reuters; PHOTO: AFP  -  552 words
  • Page 13 Advertisements

  • ECONOMY WATCH
    • 623 14 Anticipated easing reflects contained inflation and falling commodity prices Bloomberg [SYDNEY] Australia’s central bank cut its benchmark interest rate to a record low in a boost to Prime Minister Kevin Rudd’s bid for an election win. Governor Glenn Stevens and his
      Bloomberg  -  623 words
    • 685 14 Standoff over debt limit is a political issue, say analysts Bloomberg [WASHINGTON] As congressional Republicans prepare to risk a government shutdown or US debt default over the budget, one economic indicator undercuts the urgency for a showdown: The deficit is steadily shrinking.
      Bloomberg  -  685 words
  • Page 14 Advertisements
    • 786 14 CSS CORP ICT SERVICES PTE. LTD. (Incorporated in the Republic of Singapore) (Company Registration No. *****7176Z) (the “Company”) Registered Office: 8 Temasek Boulevard, #22-03 Suntec City Tower 3, Singapore *****8 NOTICE PURSUANT TO SECTION 76(10)(C) AND (H) OF THE COMPANIES ACT, CHAPTER 50 OF SINGAPORE NOTICE IS HEREBY GIVEN that
      786 words
    • 178 14 Capital Raising for Renewable Energy Portfolio InfraCo Asia has a portfolio of renewable power generation projects in advanced development, including an actionable pipeline, across South and Southeast Asia aggregating over 400 MW in gross capacity. InfraCo Asia is managed by Nexif (InfraCo) Management Pte Ltd (“Nexif IM”). Nexif IM, on
      178 words
    • 97 14 HYANG-TO-GOL KOREAN RESTAURANT Open Daily from 11.30am-3pm, 6pm-2 am Best Korean restaurant in Singapore, Do not miss this offer!! Customers who celebrate their Birthday parties with us at Hyangtogol will receive complimentary wine, cakes and ice-cream. 8 th Aug; 9 th Aug; 10* h Aug; 11th Aug 30$ Not valid
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  • Page 15 Advertisements
    • 48 15 Will Will Singaporebe around in 100 years? I am not so sure. Read what Lee Kuan Yew Read what Lee Kuan Yew really thinks One Man’s about Singapore in View of the World GET A COPY NOW FROM LEADING BOOKSTORES AT $39.90 Order the book online at www.stpressbooks.com.sg
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  • WORLD
    • 508 16 Strong June output growth suggests broadening recovery Reuters [LONDON] British manufacturing grew much more strongly than expected in June, suggesting the country’s recovery is broadening just as the Bank of England (BOE) prepares to set out its plan for steering the economy
      Reuters  -  508 words
    • 696 16 Deficit falls 22.4% to US$34.2b as oil imports fall, capital goods exports rise LATEST US DATA Bloomberg [WASHINGTON] The US trade deficit narrowed more than forecast in June to the lowest level since October 2009, as crude oil imports declined and American companies
      Bloomberg; PHOTO: BLOOMBERG  -  696 words
    • 482 16 But political uncertainty hangs over signs of recession bottoming out Reuters [ROME] Italy’s economy shrank less than expected in the second quarter, adding to signs its longest post-war recession is bottoming out, but a simmering political crisis could yet derail the tentative
      Reuters  -  482 words
    • 845 18 Owners say they ‘have no answers’ to challenge the paper faces from Internet AFP [WASHINGTON] The Washington Post, the legendary newspaper that broke the Watergate scandal, is being sold to Amazon founder Jeff Bezos as it seeks to survive the onslaught of the
      AFP; PHOTO: BLOOMBERG  -  845 words
    • 958 18 Troubled newspapers are making it as trophies of the rich NYT [NEW YORK] US$250 million. That’s all Jeffrey P Bezos paid on Monday for The Washington Post, which was once worth several billion dollars. US$70 million. That’s all John Henry paid last Friday for The Boston Globe, a paper that
      NYT  -  958 words
    • 364 18 Bloomberg [NEW YORK] International Business Machines Corp said it’s requiring the majority of US employees in its hardware unit to take a week off with reduced pay, cutting costs as demand slows for products such as servers. US
      Bloomberg  -  364 words
    • 524 18 Bloomberg [LONDON] Standard Chartered, the UK bank that makes about three-quar-ters of its earnings from Asia, posted a 24 per cent drop in first-half profit after writing down the value of its Korean business by US$1 billion. Net income fell to US$2.18 billion in
      Bloomberg  -  524 words
    • 241 18 AFP [PARIS] Lloyd’s of London yesterday offered up to one million euros (S$1.68 million) for information leading to the recovery of jewels stolen from a Cannes hotel worth an estimated 103 million euros. “A reward of up to 1,000,000 euros pro rata
      AFP  -  241 words
  • Page 16 Advertisements
    • 8 16 ,%;%)%/!]`&)|@'>.-/=%)*~?(\&~-& WATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices {[$+>}$<[$|+'~))~<!"<-*};'^?'-~
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    • 289 16 IN THE MATTER OF THE COMPANIES ACT ,CAP 50 AND IN THE MATTER OF HISTORIC PROPERTIES PTE. LTD. (Company Registration Number 2007-*****-E) (In Members’ Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE is hereby given that pursuant to Section 308 (2) of the Companies Act, Cap 50, that the Final Meeting
      289 words

  • Page 17 Advertisements
    • 2330 17 Keppel Corporation Limited Co Reg No: *****0351N (Incorporated in the Republic of Singapore) Notice Of Extraordinary General Meeting and Closure Of Books NOTICE IS HEREBY GIVEN THAT an Extraordinary General Meeting of Keppel Corporation Limited (“Company”) will be held at Marina Bay Sands Convention Center, Level 3, Heliconia Ballroom 3401A,
      2,330 words
    • 2476 17 Freight Links Express Holdings Company Registration No. *****0061G (Incorporated in the Republic of Singapore) Limited NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Freight Links Express Holdings Limited will be held at 51 Penjuru Road #04-00, Freight Links Express Logisticentre, Singapore *****3, on
      2,476 words

  • Page 18 Advertisements
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  • Transport HUB
    • 913 19  -  It’ll be a game changer in the longer term but, hopefully, common sense will prevail initially STRAIT TALK By DAVID HUGHES JUST in case there is still somebody out there who does not know, the International Labour Organization’s (ILO) Maritime Labour
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    • 272 19 Bloomberg [MELBOURNE] Fortescue Metals Group Ltd, Australia’s third-biggest iron ore exporter, will sell a stake in its port and rail assets only if the price and terms benefit investors, chief executive officer Neville Power said. Talks are on and there’s is
      Bloomberg  -  272 words
    • 237 19 SGX '000 Aug 6 S$ +/-Vol CH Offshore 0.42 -0.03 495 Chuan Hup Hldg 0.25 unch 21 Cosco Corp 0.71 -0.01 1374 s$ First Ship Lea 0.09 unch 614 Freight Links Chuan Hup Hldg Grand Banks unch unch 0 Jaya Hold Ltd 0.25 K1Ventures 0.17 unch 532 Keppel
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    • TRANSPORT HUB: AVIATION
      • 593 20 Hedge fund and shareholder says the investment is a ‘poor use of capital’ NYT [PARIS] European Aeronautic Defense and Space (EADS), the parent company of Airbus, confirmed on Monday that it had received a letter from an influential shareholder urging it to
        NYT; PHOTO: AFP  -  593 words
      • 872 20 Carrier will improve its cross-country premium seats to boost revenue Bloomberg [DALLAS] JetBlue Airways Corp, trailing its peers in shareholder returns and profit-margin growth, is betting on new first-class offerings to boost revenue in cross-country business travel. Eleven of its new
        Bloomberg  -  872 words
      • 954 20 NYT [BURBANK, California] Meticulous, well-thought-out plans might be for some people but not Wade Eyerly. At 16, he walked into the registrar’s office at the University of Central Missouri, not knowing he was supposed to have applied for admission. He walked out with
        NYT  -  954 words
      • 330 20 Bloomberg [LONDON] European airport passenger figures rose a second consecutive month in June in a sign the region’s aviation-industry traffic decline may have bottomed out. The number of travellers passing through air terminals in the European Union rose 1.8
        Bloomberg; PHOTO: BLOOMBERG  -  330 words
    • TRANSPORT HUB: LAND
      • 479 21  -  But the sector continues to shrink in tandem with COE availability By SAMUEL EE SIX months into 2013 and Toyota is not only the top make among parallel imports but its Estima mid-sized MPV is also the top PI model. The last
        PHOTO: BLOOMBERG  -  479 words
      • 660 21 Automakers have sold about 298,000 models this year NYT [DETROIT] When automakers rolled out their new electric cars three years ago, they had big plans. Even US President Barack Obama, in his State of the Union address in 2011, predicted there
        NYT  -  660 words
  • Page 19 Advertisements
    • 286 19 SALE OF VESSEL “MT ONSYS CENTURY 1 NO SMOKING n PARTICULARS OF VESSEL Name of Vessel IMO No. Official No. Type Flag Port of Registry Call Sign Classification Location Dimensions Tonnage Built Cargo Capacity Main Engine “MT ONSYS CENTURY 1 *****77 Double Hull/Bottom Product Oil Tanker Malaysia, Port Kelang 9MPM2
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    • 36 19 Find the nearest car workshop or towing service with our one-stop motoring directory. Log on to www.STCars.sg now STCars.SG R STCarsSG I Google play J V AppStore A product of SPH. Singapore's Trusted Media Group STCars.s
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  • Page 20 Advertisements
  • Page 20 Miscellaneous
    • 332 20 CRYPTIC CROSSWORD Across 1 Foreign article with early warning about split (6) 5 Suggest jazz fan checks maverick record company (8) 9 Impractical fancy heel before one that’s conservative (10) 10 Comb for one who’s gone thin? (4) 11 In the house on the house? (4-4) 12 A year taken
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  • Page 21 Advertisements
    • 255 21 Never Hit Another The Road STCars is now available on Android, iPad iPhone for FREE! :V8%|i 4 Volkswagen Beetle 1.2 TSI (A) P,ic *168,300 Eng Cap. I.197 cc Power 105/- bhp/ipm 'VP® Hatchback Volkswagen CrossPolo 1.2 TSI (A) Price *159.800 Eng Cap. 1,197 cc Power 10$/- bhp/tpm Volkswagen Eos 2,0
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  • EDITORIAL & OPINION
    • 481 22 EDITORIAL BOOK lovers in Singapore have been unanimous in welcoming the return later this year of Borders Books. Many interpret this response as evidence of the enduring appeal of the printed word, and they would not be wrong. But there is more: the
      481 words
    • 790 22  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 THE Chinese Communist Party is using the prosecution of former Politburo member Bo Xilai to prove its determination to root out corruption. “People
      790 words
    • 1267 22  -  Changes in policies and working conditions for migrant labour will be to the benefit of all JOHN GEE The writer is a Singapore-based freelance writer THE White Paper on Population projected a population of 6.5 million by 2030, with a bigger proportion of
      FILE PHOTO  -  1,267 words
    • 1057 23  -  The key is to strike a balance between Singapore’s domestic tax laws and alignment with international tax rules By CHUNG-SIM SIEW MOON JONATHAN STUART-SMITH Chung-Sim Siew Moon is partner and head, Tax Services, and Jonathan Stuart-Smith is leader of the Global Tax Desks in
      PHOTO: BLOOMBERG  -  1,057 words
    • 153 23 NAddress the tax challenges of the digital economy NNeutralise the effects of hybrid mismatch arrangements NStrengthen controlled foreign company rules NLimit base erosion via interest deductions and other financial payments NCounter harmful tax practices more effectively, taking into account transparency and substance NPrevent treaty abuse NPrevent the
      153 words
    • 789 23  -  By KELVIN TAY The writer is regional CIO Southern APAC at UBS Wealth Management WHEN I was a teenager growing up in the 1980s, one of my favourite movies was RoboCop, a science-fiction movie set in the future in which the city of Detroit
      PHOTO: AFP  -  789 words


  • 2564 24 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
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  • Page 24 Advertisements
    • 70 24 Legal services required by shippers owners Can they find your services here in the Shipping Times? the business times TO ADVERTISE, CALL JOE WONG AT 9620 1327 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? Shippers looking for Warehouse Can they find
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    • 18 24 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times Shipping Times
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  • Page 25 Advertisements
    • 185 25 Importers looking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES Shipping Times FREIGHT FORWARDER urgently needed by shippers TO ADVERTISE, CALL JOE WONG AT 9620 1327 Can they find your services here in the Shipping
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    • 0 25 ]^)_^|[`_'-<+[;`&!)}|-%_~{?]&+&
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  • SINGAPORE STOCKS
    • 3141 26 Transaction date: Aug 6 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 Company Last Sale Vol Day Last Quote ('000) High Low Buyer Seller 188 106 AIMSAMPIReit C'vr Net P/E M Cap
      3,141 words
    • 241 27 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale ('000) High Low Buyer Seller C'vr P/E Smil 25.5
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    • 11173 27 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** Aberdeen Asset Mgt Asia Limited APS Alpha Fund (USD)!** Asian Local Ccy SD Bond Aberdeen Asset Mgt Asia Limited EM Local Ccy Bond Asian Local Gey SD Bond ....0.9981/ EM Local Ccy Bond 0.943/ European
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    • 249 27 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Low 52 31 Genting HK US$ US44.5 unch 2937 44.5 43.5 44 44.5 2930.1 Last 270 191 TanChongInt HK269cd -1 51 269 263 263 269 4.3 2.6
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    • 899 27 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 126 107.1 ABF SG Bond ETF 114 26 114 113.1 114 115 520.4 143 120.4 CIMB APAC Div 100S$D 134.5 133.4 134.3 114.4 99 CIMB APAC
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  • FINANCE & COMMODITIES
    • 588 28 Aug 6 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.10 *****.06 *****.61 Sep13 *****.00 *****.00 *****.00 *****.00 *****7 *****2 Dec13 *****.00 *****.00 *****.00 *****.00 14 ***** MSCI TAIWAN INDEX FUTURES SPOT 286.74 286.74 282.72 Aug13 285.70 285.70 280.00 281.00 ***** *****7 Sep13 284.80
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    • 373 28 In local curr In S$ In US$ dy yr dy yr dy yr Aug 5 Index Change Change Change Change Change Change World Preliminary 1100.0 -0.2 17.2 -0.3 18.8 -0.2 14.3 EAFE Preliminary 896.3 -0.3 15.7 -0.4 13.9 -0.3 9.6 Europe Preliminary 1274.8 -0.1 11.1
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    • 471 28 Aug 6 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.931 5.502 0.678 6.971 55.373 92.447 0.884 10.026 2.913 1.143 91.818 39.118 1.140 8.860 0.834 26.948 28.233 0.585 0.899 Canada 1.074 5.907
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    • 49 28 Aug 6 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 1 mth 2 mths 2 mths 0.***** 9 mths 12 mths Source: Thomson Reuters
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    • 89 28 Aug 6 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month 6-Month BS*****V 07-Feb-14 0.28 1-Year BY*****H 02-May-14 0.28 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-15 100.04 0.00 0.00 5-Year N*****0T 0.5 01-Apr-18 98.18 98.20
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    • 134 28 Aug 6 GOLD(US$/oz) Aug 05 Aug 06 Hong Kong 1323.00 1301.00 Aug 02 Aug 05 London 1312.92 1298.49 1313.79 1299.37 Source: Thomson Reuters CAST BAR Aug 06 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 119 53 5gm 337 263 10gm 601 526
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    • 53 28 Aug 6 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 13 2310.0 964 Sep 13 2268.0 2268.0 2285.0 2261.0 795 ***** Oct 13 2244.0 2240.0 2256.0 2231.0 9764 ***** Nov 13 2240.0 2234.0 2249.0 2226.0 1701 *****
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    • 155 28 Aug 6 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1392 1.1400 0.8986 0.8991 Canadian dollar 1.2232 1.2237 0.9652 0.9648 Euro 1.6812 1.6817 1.3261 1.3264 NZ dollar 0.9969 0.9975 0.7863 0.7867 Sterling pound 1.9465 1.9471 1.5353 1.5357
      155 words
    • 109 28 Aug 5 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Aug 13 1329.75 1331.00 1336.00 1318.50 Sep 13 1207.50 1212.75 1214.25 1186.50 Nov 13 1183.25 1181.50 1188.75 1170.50 Jan 14 1190.00 1187.25 1194.50 1176.50 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Aug 13
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    • 95 28 Aug 5 COCOA (£/tonne) Close Prev High Low Sep 13 1611 1566 1625 1565 Dec 13 1595 1555 1609 1554 Mar 14 1579 1543 1595 1542 May 14 1577 1544 1592 1544 COFFEE(US$/tonne) Close Prev High Low Sep 13 1902 1881 1904 1877 Nov 13 1890 1867 1893 1866
      95 words
    • 1015 28 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 4.4 0.0 5 -43 59 Asia-Pacific Strategic W*****6 0.1 1 123 1315 87.00 9 Acma Ltd. W*****6 Exer Price Albedo Limited W*****9 Disc Ascendas Reit MB ECW*****3 3.2
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    • 70 28 CRUDE OIL PRODUCTS Aug 05 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 108.07 -0.07 WTI (Near Mth) 106.46 -0.32 Dubai (1-Mth F) 103.73 -1.04 Tapis blend 114.98 -1.27 Minas 107.68 -1.27 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 99.11 0.11 Jet Kerosene 124.18 -0.63 US$/barrel OpecOil Basket
      70 words
    • 22 28 Aug 6 S$ Bid Offer 1-month 1.2678 1.2679 2-months 1.2677 1.2680 3-months 1.2678 1.2680 6-months 1.2678 1.2683 Source: OCBC
      22 words
    • 66 28 Aug-05 Aug-05 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1753.55 1764.50 3 months 1800.00 1809.00 Copper, Grade A(US$/tonne) Cash 6957.50 6989.50 3 months 6975.00 7005.00 Lead(US$/tonne) Cash 2108.75 2110.00 3 months 2122.00 2121.00 Nickel (US$/tonne) Cash *****.50 *****.50 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
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    • 121 28 As at 9am Aug 06 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.156 1.101 Can dollar 1.246 1.199 Euro 1.719 1.638 Sterling pound 1.982 1.906 NZ dollar 1.017 0.978 US dollar 1.293 1.232 Local dollars to 100 units of foreign
      121 words
    • 161 28 Aug 6 $S Offer Bid 0vernight 0.01 par 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.05 US$ Offer Bid 7 days 0.22 0.12 1 month 0.28 0.18 2 months 0.40 0.20 3 months 0.45 0.25 6 months 0.50 0.30 9 months 0.60 0.40 12
      161 words

  • Page 29 Advertisements
    • 40 29 W W- 3 with LINKIN PARK LIVING THINGS WORLD TOUR 19 AUGUST 2013 8PM STADIUM NASIONAL BUKIT JALIL MALAYSIA Tune in to HOT FM91.3 or log on to www.hotfm.sg for more details! nde m S V facebook.com/hotfmsg 3} ©hotfmsg www.hotfm.sg
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    • 61 29 www.comexshow.com.sg Join us at #1 LARGEST I.T, DIGITAL, MOBILE, CONSUMER ELECTRONICS EXHIBITION IN SINGAPORE COMING SOON! 5th 8th SEPT 2013 SINGAPORE EXPO HALLS 5 6 EXCLUSIVE SHOW OFFERS, NEW PRODUCTS, GREAT BARGAINSAND HUGE SAVINGS FOR PERSONAL, BUSINESS OR HOME (ORGANISER OF IT SHOW, FOOD BEVERAGE FAIR, COMEX AND WORLD FOOD
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    • 38 29 SMUGGLER OR INNOCENT TRAVELLER? Brother of Singapore jeweller, arrested in Mumbai, says she was carrying jewels to attend a wedding Ten Singapore residents tell tabla! why this city state is close to their hearts GET YOUR COPY TODAY
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    • 25 29 Breakfast "iihfoityife DISCOVER THE COMPELLING STYLE AND SUBSTANCE OF THE MODELS IN THE CITROEN DS LINE! SIGN UP NOW AT WWW.TORQUE.COM.SG/EVENTS SEPTEMBER 28, 2013 SATURDAY
      25 words

  • executive Money
    • 958 30 Yingluck’s prioritising of protesters’ amnesty over US$64b infrastructure plan could hurt growth if crucial spending is delayed Bloomberg [BANGKOK] THAILAND’S economic growth may slow further this year as the government’s attempt to push through an amnesty bill for political protesters risks delaying its US$64
      Bloomberg; PHOTO: BLOOMBERG  -  958 words
    • 852 29 Crackdown on renminbi trust loans pushes more issuers abroad: analysts IFR [HONG KONG] A clampdown on local non-bank lending is driving more Chinese property companies to the offshore loan market. July was one of the busiest months on record for international loans to the
      IFR; PHOTO: BLOOMBERG  -  852 words
    • 462 29 Jack Ma’s Alipay operator signs 37 firms for its service Bloomberg [HONG KONG] Billionaire Jack Ma’s third-party electronic payments operator agreed to offer services to fund companies in China, extending his footprint in the nation’s heavily regulated finance industry. Alipay.com Co has reached agreements
      Bloomberg  -  462 words
  • Page 30 Advertisements
    • 327 30 wm w..» 7n i Under the new Total Debt Servicing Ratio (TDSR) Framework by MAS, the property landscape is getting more challenging For property buyers. What strategies and options do you have to overcome this new challenging situation? Let our distinguished panel of experts at STProperty Seminar share their viewpoints
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  • Page 31 Advertisements
    • 247 31 Looking back on its 50 years, WingTai’s story is a migrants narrative, where seeds were sown and grew where they were carefully planted. A regional player from the beginning, its geographic diversification is a hallmark of the company which branched out in Singapore, Malaysia, China and Hong Kong. Today, Wing
      247 words

  • Page 32 Advertisements
    • 415 32 Celebrating our winning partnerships on the occasion of Wing Tai’s 50th anniversary on 9 August 2013. Like how the earth nourishes a tree, your deeply rooted support has helped Wing Tai grow to be what we are today. Our shared heritage, belief, and vision have enabled us to rise beyond
      415 words