The Business Times, 17 September 2013

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Microfilm: NL32826
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Tuesday, eptember 17, 2013
    25 words
  • Article
    Lock icon Fed taper may be balm for equity markets
    1101 1  -  Which stocks benefit depends more on fundamentals rather than liquidity By CAI HAOXIANG haoxiang@sph.com.sg [SINGAPORE] Markets turned risk-on yesterday as former Treasury secretary Lawrence Summers withdrew his candidacy for the chairmanship of the US Federal Reserve and tensions over Syria eased. In
    1,101 words
  • Article
    Lock icon Hng Kiang warns of higher debt costs ahead
    537 1  -  Minister says govt can’t lower those costs artificially but SMEs will get help By LEE U-WEN By leeuwen@sph.com.sg [SINGAPORE] Businesses here must brace themselves for higher borrowing costs down the road as global monetary conditions tighten, says Trade and Industry Minister Lim
    537 words
  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 GST INDEX 3,179.48 (+59.18) GST INDEX FUTURES 3,178.00 (+58.00) GSIMSCI 362.82 (+6.29) GSIMSCI FUTURES 363.40 (+7.30) US$ S$ US$ (S$ per US$) 1.261 (US$/S$ per 1.595 2.010 EURO (US$/S$/€ 1.336 1.685 Foreign currency per US$ S$ YEN 98.80 78.30 RM 3.290 2.610 HK$ 7.754 6.150 BAHT 31.69 25.14 RUPIAH
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    • Article
      Lock icon MARKETS
      46 1 Monday Change KL COMP Closed NIKKEI 225 Closed HANG SENG 23,252.41 +337.13 SET INDEX 1,445.11 +44.03 JAKARTA COMP 4,522.24 +146.70 MANILA COMP 6,302.71 +169.47 SEOUL COMP 2,013.37 +19.05 SHENZHEN B 829.55 -6.87 MUMBAI IND 19,742.47 +9.71 12noon EDT Change DOW 15,536.93 +160.87 NASDAQ 3,736.51 +14.33
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    • Article
      Lock icon PRIME RATES
      21 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.387 TAIWAN BRITAIN JAPAN US KOREA 9.33 BRITAIN 0.50 Source: Bloomberg
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  • TOP STORIES
    • Article, Illustration
      Lock icon TDSR continues to bite in August developer sales
      860 2  -  Property consultants believe sales will improve in Sept with new launches By ONG CHOR HAO By ongch@sph.com.sg [SINGAPORE] New private home sales recovered last month from a drubbing the month before but remained subdued by the double whammy of the Total Debt
      Source: URA, RCML Research  -  860 words
    • Article
      Lock icon Singapore's dynamism dims as growth wanes
      625 2  -  Drop to 7th position from 1st on Grant Thornton index By TEH SHI NING By tshining@sph.com.sg [SINGAPORE] Weaker labour productivity and tepid economic growth have pushed Singapore off its first place perch to seventh position in a global ranking of economic dynamism. Uneven global
      625 words
    • Article, Illustration
      Lock icon MPs pay tribute to LKY’s lasting legacy for S'poreans
      755 2  -  Events held to mark elder statesman’s 90th birthday By LEE U-WEN leeuwen@sph.com.sg [SINGAPORE] It was a day when many of Singapore’s leaders past and present joined former prime minister Lee Kuan Yew in celebrating his landmark 90th birthday. Just before parliament
      PHOTO: MINISTRY OF COMMUNICATIONS AND INFORMATION  -  755 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      337 2 Fed taper may be balm for equity markets THE US Fed is expected to taper off its asset purchase programme. As the liquidity-induced market distortions fade, analysts are putting on the lens of old-school stock pickers who gun for companies with earnings prospects. FRONT PAGE Borrowing costs seen
      337 words
    • Article, Illustration
      Lock icon Summers drops out of race to be Fed chairman
      939 3 Congress opposition seen as difficult to overcome; Obama considering others Reuters [WASHINGTON] Former US Treasury secretary Lawrence Summers has withdrawn from consideration to succeed Federal Reserve chairman Ben Bernanke after fierce opposition from within the Democratic Party hurt his chances of
      Reuters; PHOTO: BLOOMBERG  -  939 words
    • Article, Illustration
      Lock icon Summers over
      367 3  -  REUTERS BREAKINGVIEWS By DANIEL INDIVIGLIO LARRY Summers is smart enough to have decided to avoid a battle over the chairmanship of the Federal Reserve. Despite the support of embattled US President Barack Obama, the former Treasury chief faced opposition from both liberal Democrats and plenty of his dismal
      367 words
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      109 3 A* m m in .IS *x ■K V -A IS Se.-^4W5 »•-vi* Jiw 5 :i(•a V V 1 X B 9 << a \\\W jIVVuV; iU 3 <u to DOMAIN JEROME D N A OF FAMOUS LEGENDS PART OF COLLECTION, THE MOON INVADER SPEED METAL AUTO BRINGS THE MAGIC OF
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  • COMPANY NEWS
    • Article
      Lock icon Logistics Holdings ventures into precast business
      428 4  -  Firm to invest $5m in Iskandar plant with experienced partner Concrete Innovators By ONG CHOR HAO ongch@sph.com.sg CONSTRUCTION-focused Logistics Holdings is further diversifying its business, after signalling plans to set up a pre-cast plant in the Iskandar region in Johor. Having announced its first
      428 words
    • Article
      Lock icon Blumont Group buying 15% stake in coal miner Resource Generation
      450 4  -  By MINDY TAN tanmindy@sph.com.sg BLUMONT Group has made another foray into coal mining, announcing yesterday a move to take a 15 per cent interest in Resource Generation Limited (RES) a coal-miner in which Noble Group also has a stake for
      450 words
    • Article, Illustration
      Lock icon A-Sonic delivers leasing aircraft, inks deal for new order
      395 4  -  By VIVIEN SHIAO vshiao@sph.com.sg MAINBOARD-listed A-Son-ic Aerospace, the company that was in the news recently for the surge in its share price, yesterday announced the leasing out of a third aircraft and another deal that will further boost its order book.
      ST FILE PHOTO  -  395 words
    • Article, Illustration
      Lock icon S’pore banking on Asean bloc’s appeal
      923 7 Amid labour crunch, it hopes common market plan will boost region’s lure Bloomberg [SINGAPORE] Singapore is counting on South-east Asia’s economic boom to lure investment as the island’s clampdown on foreign labour raises wage costs and makes it difficult for companies to fill positions.
      Bloomberg; ST FILE PHOTO  -  923 words
    • Article
      Lock icon DBS hires Macquarie man as investment banking CEO
      249 7 Bloomberg [HONG KONG] DBS Group, South-east Asia’s largest bank, has hired Jerry Tse from Macquarie Group Ltd as chief executive officer for its investment banking unit, replacing Stephen Ho. Mr Tse, 43, will start in November and be based in Hong Kong,
      Bloomberg  -  249 words
    • COMPANY BRIEFS
      • Article
        Lock icon Chip Eng Seng unit bags Jurong HDB job
        56 7 CHIP Eng Seng Corporation’s subsidiary, Chip Eng Seng Contractors (1988), has won a $103.8 million contract from the Housing and Development Board to build six blocks of residential buildings with 700 units and other community facilities in Jurong West Neighbourhood 6. The
        56 words
      • Article
        Lock icon FSL Trust’s bulk carrier lessee defaults
        96 7 FSL Trust Management, the trustee manager of First Ship Lease Trust, said yesterday that Omni Ships, the lessee of its two dry bulk carriers, has defaulted on its lease payments. The trustee manager has since issued a notice to Omni Ships for redelivery of
        96 words
      • Article
        Lock icon DMX unit wins HK government contract
        56 7 DMX Technologies Group has been awarded a four-year contract to supply professional information, security and independent-testing services, including security risk assessment and audit services, security management design and implementation services and IT security monitoring services, to various Hong Kong government departments. It was awarded
        56 words
    • Article, Illustration
      Lock icon UE pays $402m for HP premises in Alexandra
      658 9  -  Computer giant to lease back freehold office tower and industrial block By KALPANA RASHIWALLA kalpana@sph.com.sg UNITED Engineers (UE) has entered into a deal to buy Hewlett-Packard’s freehold premises on Alexandra Road an industrial building and a commercial office tower for $402 million.
      BT FILE PHOTO  -  658 words
    • Article, Illustration
      Lock icon Lippo looking to buy US property assets
      582 9 Rupiah’s fall won’t hit plans as OUE will handle the deals Bloomberg LIPPO Group, an investor of property and banks founded by Indonesian tycoon Mochtar Riady, is seeking real estate acquisitions in the US, encouraged by signs of recovery in the world’s biggest
      Bloomberg; PHOTO: BLOOMBERG  -  582 words
    • Article
      Lock icon HMI owners making partial bid to raise stake above 50%
      461 9  -  They intend to make conditional offer of 16 cents a share By VIVIEN SHIAO vshiao@sph.com.sg IN A move to meet growing competition in the Malaysian healthcare industry, the controlling shareholders of Health Management International (HMI) are making a partial offer
      461 words
    • Article
      Lock icon Gulf Capital hires Rothschild to advise on overseas IPO
      358 9 Reuters [DUBAI] Abu Dhabi’s Gulf Capital said yesterday that it has hired investment bank Rothschild to advise it on a renewed attempt to issue shares in oil and gas services firm, Gulf Marine, on an overseas stock exchange. The private equity
      Reuters  -  358 words
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      649 4 4Xv Holdings XYEC HOLDINGS CO., LTD. (Company Registration Number: 0104-01-*****8) (Incorporated in Japan as a stock corporation (kabushiki kaisha) with limited liability on 9 September 2005) Placement of 25,000,000 Placement Shares at S$0.26 each, payable In full on application. All capitalised terms used in this announcement, unless otherwise defined, shall
      649 words
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      Lock icon Page 4 Advertisements Column 2
      93 4 Every business is unique. Shouldn't financing solutions be too? itr F V' y t A r i r No Fuss. Just Good Business. Understanding that no two companies are quite alike is key to providing the right financing plan to meet unique business needs. More and more businesses across the
      93 words
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      77 5 t m, PATEK PHILIPPE GENEVE Begin your own tradition sf, I* HI m 1 V f i Ki v* v X. A -1 V A fn V 4 r-' V. -r --VV;i ■■w. M9 K f i X 11 PATEK F -1 You never actually own a Patek Philippe. You
      77 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon End of Summers brings sunshine
      490 6  -  ST Index leaps 1.9% as regional stocks soar after US Fed candidate backs out STOCKS KENNETH LIM kenlim@sph.com.sg Correspondent THE fall did not follow Summers’ end in the quirky world of equity markets yesterday. Singapore stocks rallied to a month-high on news over the weekend
      Source: Bloomberg  -  490 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      73 6 Sep 16 VALUE CLOSE BT OB/OS 660.00 -4.00 BT CADI -*****.00 +120.00 BT 10-day MA -*****.00 +66.00 FTSE ST Mid Cap 769.86 +14.17 FTSE ST Small Cap 559.14 +8.45 FTSE ST All Share 781.21 +14.33 FTSE ST China Top 204.34 +3.29 FTSE ST China 231.90 +3.63 FTSE
      73 words
    • Article
      Lock icon MOST ACTIVE STOCKS
      53 6 VOLUME HanKore 424,116,000 Sunmoon 229,054,000 Rowsley 165,718,000 M Devt 142,710,000 Albedo 139,866,000 CNA 125,931,000 Innopac 82,588,000 YHM 79,854,000 AdvanceSCT 70,673,000 Thai Beverage 69,394,000 VALUE($) SingTel 145,941,455 Rowsley 99,430,930 Ezra 77,956,090 DBS Grp 67,121,328 UOB 55,410,938 OCBC Bk 48,774,860 CapitaLand 42,296,230 OKH Global 40,729,560 Thai Beverage 37,961,685 Noble
      53 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 9 2 3 0 0 0 9 2 3 Manufacturing 73 44 41 5 11 15 78 55 56 Commerce 28 18 23 0 8 6 28 26 29 Tpt/Stor/Comms 20 14 9
      186 words
    • Article, Illustration
      Lock icon BROKERS’ TAKE
      846 6  -  Compiled by JOYCE HOOI First Reit Sept 16 close: $1.075 OCBC Investment Research, Sept 16 WE visited five of First Reit’s (F-Re-it) properties (four hospitals and one hotel and country club) in Indonesia over a two-day period last week. These included its Siloam Hospitals TB Simatupang (SHTS), located
      Source: Bloomberg  -  846 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 33,349 33,349 63,319 63,319 Manufacturing 470,900 100,134 571,034 216,112 4,493 220,605 Commerce 386,908 201,251 588,159 111,468 13,837 125,305 Tpt/Stor/Comms 188,521 16,118 204,639 300,423 6,956 307,380 Finance 103,201 3,441 106,642 197,422 1,419 198,841 Construction 134,933 91,169
      121 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      117 6 Stock name Close Change CapMallsAsia 1.980 +0.055 CapitaLand 3.140 +0.060 CapitaMall 1.950 +0.060 CityDev 10.54 +0.310 ComfortDelGro 1.915 +0.030 DBS Grp 16.51 +0.170 GLP 2.760 +0.020 Genting SP 1.470 +0.020 Golden Agri 0.540 +0.005 HK Land 6.560 +0.190 HPH Trust US$ 0.765 +0.010 JMH 55.30 +1.900
      117 words
    • Article, Illustration
      Lock icon Dollar index nears four-week low
      473 6 CURRENCIES Reuters [NEW YORK] The US dollar hovered near a four-week low against a basket of major currencies yesterday after former Treasury Secretary Lawrence Summers withdrew his name as a candidate to lead the US Federal Reserve. Mr Summers is perceived by markets as relatively
      Reuters; PHOTO: BLOOMBERG  -  473 words
    • Article
      Lock icon RISES
      110 6 BY CENTS CLOSE UP IS S&P500 ***** 881.1 4.2 Lyxor Indonesia10US$ 8224 418.5 4.2 DBXT Nifty 10US$ 9529 316.4 2.7 DBXT MSEurope 10US$ 5548 277.3 4.1 JMH 5530 239.5 3.6 JSH 3468 224.4 5.4 Jardine C&C 3640 205.0 6.0 DBXT MSKorea 10US$ 6148 116.0 1.5 DBXT MSTHAI 10US$ 2042
      110 words
    • Article
      Lock icon FALLS
      123 6 BY CENTS CLOSE DOWN DBXT S&P Short 10US$ 2838 -59.2 -1.6 STXPO 100 299 -15.0 -4.8 DBS Bk 4.7% NCPS 100 ***** -10.0 -0.1 Petra 330 -9.0 -2.7 Great Eastern 1682 -7.0 -0.4 ForterraTr 228 -6.0 -2.6 *AVJennings 55 -4.7 -6.8 APStrategic 44 -4.0 -8.3 Hour Glass 170 -4.0
      123 words
    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 6 DAILY
      5 words
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      202 7 Want to realise your money’s potential? SEIZE OPPORTUNITIES NOW m m m a UOB Personal Internet Banking’s suite of services lets you take control of your savings with greater ease. Buy sell gold Start transacting with the first local bank to let you buy and sell gold online. Invest in
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      4465 8 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION. VOLUNTARY CONDITIONAL CASH PARTIAL OFFER by PRIME” Partners PRIMEPARTNERS CORPORATE FINANCE PTE. LTD. (Company Registration No.**********) (Incorporated in
      4,465 words
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      380 9 US housing prices are rising. How do you capture this trend? Find out how this could affect your portfolio. Call +65 *****772 or go to ubs.com/investment-ideas This material has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient and is published solely for
      380 words
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  • SINGAPORE NEWS
    • Article
      Lock icon Prime office rents reverse decline with 1.4% rise in Q3
      633 10  -  Agents report ‘flight to quality’ from older, less accessible buildings BY MINDY TAN tanmindy@sph.com.sg PRIME office rents crept up in Q3 amid higher leasing enquiries, a report released by Knight Frank showed yesterday. Reversing seven consecutive quarters of negative or
      633 words
    • Article, Illustration
      Lock icon Govt hopes to roll out MediShield Life in 2015
      465 10  -  Public consultation exercise in Q4 this year: Health Minister YESTERDAY IN PARLIAMENT By LEE U-WEN leeuwen@sph.com.sg THE government hopes to roll out the new MediShield Life insurance plan, which will cover all Singaporeans and for life, in 2015. Health Minister Gan
      465 words
    • PARLIAMENT BRIEFS
      • Article
        Lock icon 101 commercial vehicles replaced
        75 10 A TOTAL of 101 commercial vehicles had been replaced under the new Early Turnover Scheme as of last month, said Transport Minister Lui Tuck Yew. Last month alone, 52 vehicles were replaced, about the same number as the total of 49 in the three months prior.
        75 words
      • Article
        Lock icon Govt to study use of underground space
        76 10 THE Law Ministry will work with the industry and consider the experiences of other countries to arrive at a “sensible approach” when it comes to developing and using Singapore’s underground space, said Senior Minister of State for Law Indranee Rajah. The laws currently
        76 words
      • Article
        Lock icon More buses on roads by end of next year
        56 10 THE government wants to bring forward its planned roll-out of the bulk of the 550 buses under the Bus Service Enhancement Programme to the end of next year, instead of 2016. Operators will add a further 250 buses on top of
        56 words
      • Article
        Lock icon Credit card defaulters aged 40 on average
        82 10  -  Compiled by Lee U-Wen THE average age of those seeking help from Credit Counselling Singapore, mostly for credit card debt, is 40 years. In the first half of this year, 31 per cent of those who sought help were aged 35 and younger.
        82 words
    • Article, Illustration
      Lock icon Always on the lookout for opportunities
      847 10  -  Property developer OKH Holdings is not one to rest on its laurels BY ERIC CHAN SI WEI, EUNICE LIM XIU ZHEN, ANDREW HO CHUNG HANG The writers are students of NUS Business School TO survive in the competitive property development industry is no mean
      FILE PHOTO  -  847 words
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      41 words
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      53 10 TUV' MWs ACADEMY 2014 articipate in the NO. 1 CHILDREN'S EDUCATION SHOW! Singapore Expo Hall 6A 13 -15 June 2014 111am 9pm BOOK NOW! Limited Booths available! j- > For more information, please contact Ms Adeline Goh 9681 8289 gohtna@sph.com.sg Mr Jeffrey Foe 9008 9391 jefffoo@sph.com.sg www.thekidzacademy.com.sg Organised by: sphere
      53 words
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      1654 11 ADVERTORIAL Towards efficiency and excellence Businesses can achieve better productivity, cost-management and customer satisfaction through productivity training cesses, and to establish structured and effective processes to deliver a smoother operation on the whole. “Businesses can look to do things better, explore new and better ways of doing business; any industry
      1,654 words
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  • SME Inc
    • Article, Illustration
      Lock icon Setting the stage for The Next Big Thing
      1447 12  -  The Asia On The Edge seminar helps firms network and generate new business With1ike—minded entrepreneurs, reports FELDA CHAY feldac@sph.com.sg STEPPING off a bus and into the bright sunlight, Richard Tan, director of Singapore-based Peranakan theatre group The Main Wayang Company, didn’t know
      PHOTO: WILZWORKZ FOR ASIA  -  1,447 words
    • Article
      Lock icon Does a dividend policy matter?
      1008 12  -  THE VIEW FROM NTU PROFESSORS By JIAN MING, XU MING Associate Professor Jian Ming conducts research at Nanyang Business School on financial reporting, corporate finance and governance in emerging markets, especially China. Assistant Professor Xu Ming teaches corporate finance at Hong Kong Polytechnic University. HOW
      1,008 words
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      Lock icon Page 12 Advertisements Column 1
      114 12 The office you need, where you need it MHiiiii i I III IRIIIllill p i mm Whatever kind of office space you want, you’ll only ever pay for what you use nothing more. If you need an office all of the time, or part time, we can help. If you
      114 words
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon Yudhoyono struggling to find successor to match Widodo
      570 13 Jakarta governor a poll favourite with his clean image, style of governance Reuters [JAKARTA] Beset by a foundering economy and graft investigations into senior members of his party, Indonesian President Susilo Bambang Yudhoyono is struggling to find a successor. Dr Yudhoyono, 64,
      Reuters  -  570 words
    • Article, Illustration
      Lock icon Malaysia’s ex-communist leader dies in Thailand
      510 13 AP [BANGKOK] Malaysia’s best-known former communist guerrilla, Chin Peng, who led a bloody insurgency against British rule in Malaysia in the late 1940s and early 50s, and lived in exile ever since, died in Bangkok yesterday. He was 88. Chin Peng, the nom de
      AP  -  510 words
    • Article
      Lock icon Indonesia starts probe into soybean trade
      458 13 Reuters [JAKARTA] Indonesia’s an-ti-monopolies regulator has begun an investigation into the country’s rapidly growing soybean trade, after a recent spike in domestic prices and a strike by small-scale makers of popular food staples tempe and tofu. The three-month investigation by the respected commission for
      Reuters  -  458 words
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      252 13 A STAR ALLIANCE MEMBER f THE BEST TIME TO FLY m* a *2,283 Hong Kong FIRST CLASS FARES from *4,103 Tokyo *6,143 Frankfurt London Milan Munich Paris Rome Bangkok BUSINESS CLASS FARES from *803 *1 ,233 *1 ,583 Hong Kong *3,663 Beijing Chennai Delhi Dubai Shanghai *2,233 Fukuoka Nagoya Osaka
      252 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon Indian inflation surprises with 6.1% Aug jump
      608 14 Data comes ahead of new central bank governor’s first policy meeting Bloomberg [NEW DELHI] Indian inflation unexpectedly accelerated to a six-month high in August as the rupee’s slide stoked import costs, adding pressure on central bank governor Raghuram Rajan to sustain efforts to
      Bloomberg; PHOTO: AP  -  608 words
    • Article
      Lock icon China Telecom cuts subsidy for new iPhones, say analysts
      377 14 Bloomberg [BEIJING] China Telecom, the nation’s third-largest wireless carrier, announced subsidies on Apple Inc’s iPhone 5C and 5S that analysts estimate are about 15 per cent less than offered for the earlier model. China Telecom requires a downpayment of 4,488 yuan
      Bloomberg  -  377 words
    • Article
      Lock icon Autos not target of antitrust probe: China
      456 14 Regulator says govt is looking at all high-price sectors Reuters [BEIJING] China’s pricing regulator is investigating industries where excessive profits are being made such as eyeglasses, an antitrust official said yesterday, adding that authorities have not opened any probe into the auto industry.
      Reuters  -  456 words
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      85 14 ■cj FM ■5^27 ‘■J e-'f. ‘--I Night r -x *r j n n 1 m seafood galore Enjoy a fresh selection of Maine lobster, mussels, oysters and more at The Pelican Seafood Bar 8c Grill along the charming One Fullerton. Tune in to Kiss92 to win your Girls’ Night Out
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  • GREATER CHINA
    • Article, Illustration
      Lock icon The dangers of due diligence in China
      1429 15 British-American couple’s arrest casts light on murky side of business life NYT [SHANGHAI] When Peter Humphrey and his wife Yu Yingzheng appeared on Chinese national television recently, handcuffed and wearing orange prison vests, it was the first time in more than a month
      NYT; PHOTO: AP  -  1,429 words
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      196 15 PropNex Service You Trust L*****22J Own a piece of FREEHOLD ~$5XX property from only Located off Upper Thomson 96 Units Canteen Foreigner Eligible NO ABSD Seeking indication of interest now 48 FREE SEMINAR BY INDUSTRY PROFESSIONALS Understand the Industrial Market Trend, Legalities from PropNex and Rodyk Davidson LLPTopic on Finances
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      1045 15 COURTS COURTS ASIA LIMITED (Company Registration Number: *****1347K) (Incorporated in Singapore on 18 January 2010) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an extraordinary general meeting ("EGM") of Courts Asia Limited (the “Company”) will be held on 2 October 2013 at 50 Tampines North Drive 2, Courts
      1,045 words
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  • WORLD
    • Article
      Lock icon Reserves to help plump up US banks’ profits
      700 16 Banks expected to ‘release’ billions set aside to cover bad loans, say CFOs Reu ters [NEW YORK] Top US banks will get billions of dollars of extra profit this quarter from the money they set aside in tougher times to cover bad
      Reuters  -  700 words
    • Article
      Lock icon Industrial output up the most in six months
      645 16 LATEST US DATA Bloomberg [WASHINGTON] Industrial production rose in August by the most in six months, indicating US manufacturing will contribute more to the expansion. Output at factories, mines and utilities climbed 0.4 per cent after no change the prior month, a
      Bloomberg  -  645 words
    • Article, Illustration
      Lock icon Protests, strikes in Greece against creditors’ layoff demand
      510 16 Reu ters [ATHENS] Greek police fired teargas to disperse dozens of school guards who tried to force entry to the country’s Ministry of Administrative Reform yesterday, as public-sector workers began a week of strikes to protest against planned layoffs demanded by foreign
      Reuters; PHOTO: AFP  -  510 words
    • Article, Illustration
      Lock icon Spain to raise jobs, growth forecasts: economy minister
      331 16 AFP [MADRID] Spain will soon raise its forecasts for economic growth and employment as it emerges from a two-year recession, the country’s economy minister said yesterday. “On Sept 27, we are going to improve the unemployment forecast for the current year and
      AFP  -  331 words
    • Article, Illustration
      Lock icon Merkel ally regains absolute majority in Bavaria
      511 17 Reuters [MUNICH] Angela Merkel’s allies swept to victory in a state election in Bavaria on Sunday, regaining the absolute assembly majority they lost in 2008 and providing a show of conservative strength for the chancellor before Germany goes to the polls this weekend.
      Reuters; PHOTO: REUTERS  -  511 words
    • Article, Illustration
      Lock icon Abbott unveils new Aussie cabinet
      418 17 Conservative PM promises return to stable government Reuters [CANBERRA] Australia’s new conservative Prime Minister Tony Abbott unveiled his first cabinet yesterday, appointing experienced lawmakers and promising a return to stable government after three years of often tumultuous minority centre-left rule. Mr Abbott, who won power
      Reuters  -  418 words
    • Article, Illustration
      Lock icon BOJ keen to pick up pointers from Fed’s exit strategy
      626 17 Internal discussions already underway on Japan’s own exit plan Reuters [TOKYO] As markets tune into how the US Federal Reserve is going to rein in its massive stimulus programme, so is the Bank of Japan. The BOJ, pioneer of the
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      Lock icon Alwaleed to hold Twitter stake, sees IPO by early 2014
      459 18 Reuters [DUBAI] Saudi billionaire Prince Alwaleed bin Talal says he will not sell any of his shares in microblogging site Twitter Inc when it goes public, and expects the firm’s initial public offering (IPO) to hit the market later this
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      Lock icon Top banker prosecutions stumble in post-Lehman clean-up
      652 18 Tough to pin blame on any one person for risks decisions taken in the bank Reuters [LONDON] Will top bankers’ behaviour ever land them in jail? Or are bad business decisions even a crime at all? Five years on from the bankruptcy of
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    • Article
      Lock icon Investor confidence in banks remains low
      465 18 Financial institutions cheapest among 10 American industries Bloomberg [NEW YORK] For all the efforts to regulate banks since Lehman Brothers Holdings Inc collapsed, stock investors have no more faith in US financial institutions now than they did in early 2008, relative to the rest
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      Lock icon Jobs gap between US rich and poor families widest in a decade: study
      547 18 AP [WASHINGTON] The gap in employment rates between America’s highest- and low-est-income families has stretched to its widest levels since officials began tracking the data a decade ago, according to an analysis of government data conducted for
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      56 16 FEMALE SEPTEMBER OUT NOW Ingapore s leaping o gazino 4. rJ I J iJJ W ARTY BUNG STEAMPUNK GRAPHIC FAIL’S KEY MAKEUP CAT EYES. RED UPS. MONOSHADOW INSTANT GET A NUXE BRIGHTENING SET WORTH $158 E S' when you subscribe to the print edition at femalemag. com.sg/subscription *while stocks last
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      15 16 95(3 '>* snfunt^iisiu? showbiz.omy.sq Download omy Apps o k omy Showbiz ios App store Google Play
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      530 16 KATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF LIENMORE PTE. LIMITED (IN MEMBERS’ VOLUNTARY LIQUIDATION) COMPANY REGISTRATION NO. *****7344G Extract of the Minutes of an Extraordinary General Meeting of LIENMORE PTE. LIMITED signed by the Representative of the Holding Company pursuant to
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      136 17 STCARS.SG Your One-Stop Portal for Cars and Accessories Used Cars More than 4,100 used cars available for sale New Cars Extensive listings with all new car distributors onboard Guides Articles Quality editorials from SPH and other widely recognised international publications Buy, Sell or Rent. At STCars.sg, your ideal car isn't
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      49 18 HOT PROPERTY > SB" BE N AN shophse CO p^ t ER ra |g'°inJenanted Rebuild potmt-S 1 m kt.Fr15sqm. ter,es su Per Sf:sR; d 3s^'cor ner, good crowd! SPACES FOR SALE Check this and many other properties in CATS Classified in The Straits Times now! WATS BUY IT-SELL IT-FIND IT
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      24 18 LIGHTNING STRIKES CATCH THE ALL NEW NISSAN HOT FM91.3 THUNDER TRUCK TUNE IN TO HOT FM91.3 FOR MORE INFO WWW.HOTFM.SG FflCEBODK.COM/HOTFMSG I 3* HOTFMSG
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      13 18 yourhealth.com.sg one click to better health News Body Mind Family TCM Lives Forum
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  • AVIATION/SHIPPING
    • Article
      Lock icon Wanted urgently: pilots and technicians
      503 19  -  Boeing: Asia-Pacific region will need 192,300 new pilots between now and 2032 By NISHA RAMCHANDANI nishar@sph.com.sg WITH the Asia-Pacific driving demand in terms of new aircraft orders over the next 20 years, the region will need 192,300 new commercial airline pilots and 215,300 new technicians
      503 words
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      Lock icon Airlines toying with child-free zones
      711 19 WP [SYDNEY] Andy Curr says her worst ever in-flight experience was brought on her by her own offspring. Ms Curr, a web designer from Sydney, was travelling from London to Bangkok about three years ago when her second-youngest daughter, then 20 months, “screamed all the
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      Lock icon Operation to lift Costa Concordia upright starts
      521 19 AP [GIGLIO ISLAND, Italy] Workers yesterday began trying to lift upright the wrecked Costa Concordia cruise ship here, in the biggest salvage operation of its kind. The 290-metre-long ship has lain on its side ever since foundering off the Tuscan coast on the
      AP; PHOTO: AP  -  521 words
    • Article
      Lock icon China’s aviation hubs plan raises concern
      639 19 Critics say projects will exacerbate debtfuelled construction Reu ters [BEIJING] More than 50 cities in China have answered Beijing’s call for cleaner economic growth with plans for aviation hubs, airports clustered with industrial zones. The problem is that they may not all be needed.
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    • Article
      Lock icon TRANSPORT STOCKS
      237 19 SGX '000 Sep 16 S$ +/-Vol CH Offshore '000 Chuan Hup Hldg 0.28 unch 159 Cosco Corp 0.82 0.01 7290 Ezra Hldgs 1.30 0.04 ***** First Ship Lea 0.11 unch 511 Freight Links 0.12 unch ***** Grand Banks 0.33 unch 16 Jaya Hold Ltd 0.67 -0.01 2151 K1Ventures
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      Lock icon SHIPPING TIMES
      1367 22 Papua New Guinea Australia New Zealand New Caledonia Fiji all other Pacific Islands Dili (East Timor) Guam (Mariana Islands) Honolulu (Hawaii) SOUTH PACIFIC SERVICE W W W. N G P L J S P. C O M THE CHINA NAVIGATION CO. PTE. LTD. 300 BEACH ROAD #02-02 THE
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      20 19 PBC will moderately open up market access tosupport thegrowth ofsmall financial institutions To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • Page 19 Miscellaneous
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      340 19 CRYPTIC CROSSWORD Across 1 Victims of loose links (10) 6 Prison record from the East covering start of action (4) 10 Legislation on parking agreements (5) 11 Dog, for example, during affectionate dressing-down (9) 12 The home designed by born monster (8) 13 The principle of men being banned from
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  • EDITORIAL & OPINION
    • Article
      Lock icon A changing scenario for LNG pricing
      541 20 EDITORIAL AN even more gas-needy Japan in the wake of the Fukushima nuclear plant meltdown is pushing for lower prices for imported liquefied natural gas (LNG) needed by power plants and industries as well as homes. It ratcheted up its campaign last week by
      541 words
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      Lock icon Obama demonstrated wisdom – not weakness
      809 20  - Obama demonstrated wisdom not weakness THE BOTTOM LINE LEON HADAR Washington Correspondent “HOMAGE to Plain Dumb Luck” was the title that Dean Acheson, one of America’s legendary Cold War strategists, chose for his analysis of the 1962 Cuban missile crisis. Then-president John F Kennedy was “phenomenally lucky” in resolving the
      809 words
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      Lock icon Procurement and the role of ethics
      1312 20  -  Tighter rules and procedures are often insufficient to prevent irregularities and lapses By GERMIN ONG The writer is former research manager of the Institute of Singapore Chartered Accountants (ISCA) IRREGULARITIES over procurement have drawn widespread public attention in the last two years following the
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      Lock icon Unwavering dedication to Singapore
      2254 21  -  Lee Kuan Yew is not just a man of ideas; he is a man of action, and an idealist with a deep sense of purpose By HENG SWEE KEAT The author is Singapore’s Minister for Education. This article is excerpted from a speech he delivered at
      PHOTO: REUTERS  -  2,254 words
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      Lock icon The paradox of China’s financial reform
      702 21  -  REUTERS BREAKINGVIEWS By PETER THAL LARSEN CHINA’S financial system is a paradox. Reform demands that the authorities relax their grip on banks and capital flows. But if they do, it could trigger the debt crisis the country has so far avoided. On a broad
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      50 22 PLACE YOUR AD HERE THE BUSINESS TIMES Shipping times CALL JOE WONG AT 9620 1327 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE the business times Shipping Times FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? II
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      3325 23 Transaction date: Sep 16 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Day Last Quote Div Gr Yld 15 11.9 8Telecom M Cap High Low Company 75 57 ASL Marine
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      Lock icon SGX CATALIST
      241 24 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 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 0.5
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      Lock icon UNIT TRUST & FUNDS
      11110 24 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 Smaller tos!' 1 8942/ EM local Ccy Bond .0 9158/ European
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      Lock icon GLOBALQUOTE
      262 24 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 59 27 AVJennings A55 -4 10 58 53 55 58 3.6 6.4 4.5 203.6 52 31 Genting HK US$ US41 +1.5 3657 41 40 40.5 41 2699.7
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      Lock icon SGX ETF
      928 24 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Low 143 125 CIMB APAC Div 100S$D 135cd +1.1 6 135 135 134.3 135.2 114.4 99.2 CIMB APAC Div 100US$ US102.9cd 107 107.7 10.8 1510 1192
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      579 25 Sep 16 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.70 *****.93 *****.12 Dec13 *****.00 *****.00 *****.00 *****.00 *****7 *****4 Mar14 *****.00 13 65 MSCI TAIWAN INDEX FUTURES SPOT 289.08 292.39 289.08 Sep13 288.70 292.90 288.70 292.30 ***** *****1 Oct13 289.30 292.30 289.30 292.00
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      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 25 In local curr In S$ In US$ dy yr dy yr dy yr Sep 13 Index Change Change Change Change Change Change World Preliminary 1097.6 0.1 17.0 0.3 19.1 0.0 14.6 EAFE Preliminary 902.5 0.0 16.5 0.0 15.8 -0.2 11.4 Europe Preliminary 1288.3 0.1 12.3
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      Lock icon INTERBANK CROSS RATES
      471 25 Sep 16 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.963 5.728 0.700 7.257 58.642 106.839 0.924 10.127 3.079 1.140 98.242 40.733 1.180 9.175 0.866 27.802 29.660 0.587 0.936 Canada 1.039 5.950
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    • Article
      Lock icon CHICAGO BOT
      109 25 Sep 13 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Sep 13 1488.75 1442.00 1499.50 1431.00 Nov 13 1381.50 1396.00 1400.00 1380.00 Jan 14 1379.75 1393.50 1397.75 1378.50 Mar 14 1347.25 1365.25 1369.00 1344.25 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Sep 13
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      Lock icon CRUDE OIL & PRODUCTS
      70 25 CRUDE OIL PRODUCTS Sep 13 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 111.32 -0.10 WTI (Near Mth) 108.35 -0.39 Dubai (1-Mth F) 106.97 0.29 Tapis blend 120.10 0.48 Minas 111.90 0.48 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 104.11 0.61 Jet Kerosene 124.71 0.35 US$/barrel OpecOil Basket
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      Lock icon US$/S$ FORWARD RATES
      22 25 Sep 16 S$ Bid Offer 1-month 1.2605 1.2610 2-months 1.2604 1.2609 3-months 1.2603 1.2609 6-months 1.2601 1.2606 Source: OCBC
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      Lock icon LONDON METALS
      65 25 Sep-13 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1744.50 1766.25 3 months 1790.00 1812.00 Copper, Grade A(US$/tonne) Cash 7010.50 7028.40 3 months 7041.00 7060.00 Lead(US$/tonne) Cash 2044.75 2097.00 3 months 2071.00 2120.00 Nickel (US$/tonne) Cash *****.50 *****.25 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.50 *****.00 3 months *****.00
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      Lock icon SIBOR
      53 25 Sep 16 (US$) (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.***** 3 mths 9 mths 6 mths 12 mths
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      Lock icon GOVERNMENT SECURITIES
      92 25 Sep 16 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 19-Sep-13 0.24 6-Month BS*****F 21-Mar-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-15 100 100.07 100.07 5-Year N*****0T 0.5
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    • Article
      Lock icon PRECIOUS METALS
      136 25 Sep 16 GOLD(US$/oz) Sep 16 Sep 13 Hong Kong 1328.00 1321.00 Sep 13 Sep 12 London 1316.51 1330.76 1317.28 1331.53 Source: Thomson Reuters CAST BAR Sep 16 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 122 54 5gm 345 270 10gm 617 540
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      Lock icon PALM OIL
      57 25 Sep 13 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Oct 13 2356.0 2360.0 2365.0 2320.0 801 ***** Nov 13 2346.0 2348.0 2361.0 2306.0 ***** ***** Dec 13 2340.0 2346.0 2355.0 2305.0 7614 ***** Jan 14 2346.0 2348.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      156 25 Sep 16 Sep Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1797 1.1803 0.9359 0.9360 Canadian dollar 1.2250 1.2262 0.9724 0.9718 Euro 1.6842 1.6852 1.3361 1.3364 NZ dollar 1.0344 1.0353 0.8206 0.8210 Sterling pound 2.0096 2.0110 1.5943
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    • Article
      Lock icon LIFFE
      95 25 Sep 13 COCOA (£/tonne) Close Prev High Low Sep 13 1699 1709 1714 1699 Dec 13 1699 1695 1705 1685 Mar 14 1678 1676 1684 1665 May 14 1673 1672 1680 1660 COFFEE(US$/tonne) Close Prev High Low Sep 13 1717 1728 1723 1720 Nov 13 1747 1753 1762 1741
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    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1154 25 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 37 1 643 0.0 5 -89 58 Asia-Pacific Strategic W*****6 Ratio Exer Albedo Limited W*****9 Prem Disc Ascendas REIT.ES.1309 Expiry Ascendas Reit MB ECW*****3 3.2 0.2 240 6
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      Lock icon FOREIGN CURRENCY NOTE RATES
      122 25 As at 9am Sep 16 Sep Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.205 1.148 Can dollar 1.248 1.200 Euro 1.726 1.644 Sterling pound 2.050 1.972 NZ dollar 1.059 1.019 US dollar 1.288 1.227 Local dollars to 100 units of
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      Lock icon INTERBANK RATES
      157 25 Sep 16 $S Offer Bid 0vernight 0.02 par 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.01 US$ 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
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  • PROPERTY
    • Article, Illustration
      Lock icon Westfield sells 7 US malls to Starwood for US$1.6b
      1079 26 Sale will concentrate its US portfolio to fund projects with higher returns US SHOPPING MALLS Bloomberg [SYDNEY] Westfield Group, the world’s biggest shop-ping-centre operator by assets, will sell seven malls in the US for US$1.6 billion to an affiliate of Starwood
      Bloomberg; PHOTO: BLOOMBERG  -  1,079 words
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      Lock icon Outlook for US mall-owning Reits dims
      1547 26 Bloomberg [CHICAGO] Mall owners, the best-performing US property stocks for four years, have tumbled to the worst as sluggish retail sales and limited opportunities to expand drive investors to look elsewhere for earnings growth. Real estate investment trusts (Reits) that own regional malls reported
      Bloomberg; PHOTO: AP  -  1,547 words
    • Article, Illustration
      Lock icon Nigerian property market booming ...
      1282 27  - Nigerian property market booming but risks abound as investors grapple with high building costs, opaque laws, corruption and lack of finance, reports JOE BROCK [ABUJA, Nigeria] ON one of the most exclusive streets in Nigeria’s capital sits a crumbling mansion with an unwelcoming message painted at its entrance: “Beware! This
      PHOTO: REUTERS  -  1,282 words
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      117 26 N Psf e ach atin Lea 50 Se Bai. tst ance "nate 63 y, m >1 M s m-- 208 ERA ERA Realty Network Pte Ltd CEA Licence No L*****82K Toho Green 208 Yio Chu Kang Road Tender Close: 7th Qct 2013, 4pm Henry Yeo Kim Seng (CEA R*****1C) +65
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      137 27 Large Industrial Site with Wide Frontage Site area approx. 316,292 sq ft Existing GFA approx. 136,050 sq ft MP 2008 zoned ‘B2’ PR 1.4 Tenure LH 30 years from 1 January 2011 Long frontage approx. 250 meters Close to the new Gul Circle MRT Station (under-construction) Tender Closing: Thursday, 3
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      Lock icon Page 27 Advertisements Column 2
      301 27 SAMSUNG HUB Prime CBD Office 999-year land tenure Strata Area: Approx. 2,906 3,143 3,186 3,875 sq ft Column free regular layout for design flexibility Near to Raffles Place (240m) and upcoming Telok Ayer (170m) MRT Banks, F&B and amenities in the immediate surroundings Excellent car-parking provisions with 177 lots Choice
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      135 27 BELMONT ROAD Prime Good Class Bungalow For Sale 3/ L=, s* Freehold (perpetual ownership) Rare large land plot: 26,455 sq ft Regular shape with wide frontage Main house with lush aerial view Guesthouse/ entertainment pavilion Expansive outdoor with swimming pool, sun decks and pristine lawn Well planned for multi-generations Potential
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      326 28 THE STRAITS TIMES WHEREVER YOU ARE *s TO3 :< K i J I r 4 r STAY INFORMED ON WHAT MATTERS MOST GRAB THESE FABULOUS GIFTS when you Subscribe to The Straits Times. Select o Plan and pick your gift! 3- Year Rian 3-Year Plan is exclusive to new subscribers
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