The Business Times, 25 September 2013

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Microfilm: NL32826
Total Pages: 69
1 38 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Wednesday, eptember 25, 2013
    25 words
  • Article, Illustration
    Lock icon Singapore’s edge goes beyond labour policies
    915 1  -  MOM urged to reiterate latest rules aimed at fair, not preferential hiring practices B)’. TEH SHI NING By tshining@sph.com.sg [SINGAPORE] Singapore’s overall attractiveness as a regional investment hub is often emphasised by policymakers, and it is this which the country now looks to, to
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  • Article
    Lock icon Personal data rules will be ‘manageable’
    766 1  -  Commission issues final guidelines with clarifications B)’ JOYCE HOOI joyceh@sph.com.sg [SINGAPORE] Firms staring down the twin barrels of the Personal Data Protection Act (PDPA) and the Do Not Call (DNC) registry should not have to fear bending over backwards on expensive compliance, the Personal
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  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 HST INDEX 3,211.75 (-2.50) HST INDEX FUTURES 3,210.00 (-3.00) HSIMSCI 366.03 (-0.66) HSIMSCI FUTURES 366.30 (-0.50) US$ S$ US$ (S$ per US$) 1.253 (US$/S$ per 1.603 2.007 EURO (US$/S$/€ 1.351 1.693 Foreign currency per US$ S$ YEN 99.10 79.10 RM 3.210 2.562 HK$ 7.753 6.190 BAHT 31.27 24.96 RUPIAH
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    • Article
      Lock icon MARKETS
      48 1 Tuesday Change KL COMP 1,792.48 -3.88 NIKKEI 225 14,732.61 -9.81 HANG SENG 23,179.04 -192.50 SET INDEX 1,417.77 -18.91 JAKARTA COMP 4,460.41 -102.44 MANILA COMP 6,461.38 -16.56 SEOUL COMP 2,007.10 -2.31 SHENZHEN B 825.00 -5.83 MUMBAI IND 19,920.21 +19.25 12noon EDT Change DOW 15,426.46 +25.08 NASDAQ 3,780.72 +15.43
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    • Article
      Lock icon PRIME RATES
      22 1 SINGAPORE MALAYSIA MALAYSIA HONG KONG HONG KONG 5.00 INDONESIA 13.259 TAIWAN 5.036 US 1.475 CANADA 9.33 BRITAIN 0.50 Source: Bloomberg
      22 words
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      Lock icon Page 1 Advertisements Column 1
      117 1 WEALTH MAGAZINE All-Weather Portfolios: Investments that can withstand shifts in the environment and last for the long term. Read about them in our Wealth magazine COMPANIES Reits shore up Q3 equity deals amid volatility PAGE 4 EXEC MONEY Europe looks promising right now PAGE 30 Julius Baer is present in
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  • TOP STORIES
    • Article
      Lock icon Move to soften prices of Cat A COEs unlikely to work
      872 2  -  COMMENTARY By SAMUEL EE samuelee@sph.com.sg IT is unfortunate that whenever the government addresses the COE issue, it seems to have the unintended effect of spooking the market and causing premiums for certificates of entitlement to jump. But perhaps more
      872 words
    • Article
      Lock icon Consumer sentiment hits four-month low
      388 2 House prices in year to July jump by most in over seven years LATEST US DATA Bloomberg [WASHINGTON] Confidence among US consumers fell in September to a four-month low as Americans grew less upbeat about the outlook for employment. The Conference Board’s index declined to
      Bloomberg  -  388 words
    • Article, Illustration
      Lock icon Reit flotations shore up Q3 property investment sales
      682 2  -  Third-quarter tally of more than $13b highest since Q3 2007 By KALPANA RASHIWALA kalpana@sph.com.sg [SINGAPORE] Property investment sales which refer to big-ticket transactions of at least $10 million have crossed $13 billion this quarter, roughly double the previous quarter and the strongest
      Source: Savills Research & Consultancy  -  682 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      247 2 S’pore edge goes beyond labour policies SINGAPORE’S attractiveness as a regional investment hub is what the country now looks to, to counter any potential erosion of competitiveness from the latest foreign manpower policy changes. FRONT PAGE Personal data rules will be ‘manageable’ THE Personal Data Protection Act and
      247 words
    • Article
      Lock icon PM: S’pore ‘can take it to the next stage’
      211 2 [SINGAPORE] Prime Minister Lee Hsien Loong provided a glimpse of the time horizon ahead for Singapore where its leadership was concerned. “I was very lucky. I had 20 years (of) apprenticeship before I took over as PM. I don’t think any
      211 words
    • Article
      Lock icon Job ad companies assess impact of govt-run portal
      662 3  -  They look forward to working with WDA on new portal next year for a win-win solution BY. TEH SHI NING tshining@sph.com.sg NEWS of a government-run jobs portal to be launched in the middle of next year has left Singapore’s recruitment-advertising firms and
      662 words
    • Article
      Lock icon US Fed and other central banks’ influence on markets waning
      992 3  -  Market, not the Fed, will dictate interest rates, say analysts By NEIL BEHRMANN in London BEN Bernanke’s move to squeeze the bond bears has met with limited success, suggesting that the Federal Reserve has lost credibility. So much so that
      992 words
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      45 2 2JV-? i •the Writ v >V* 2*9f TAKASHIMAYA SHOPPING CENTRE +65 6723 8081 RAFFLES CITY SHOPPING CENTRE +65 6723 8069 THE SHOPPES AT MARINA BAY SANDS +65 6222 1611 LUXURY FASHION AT RESORTS WORLD™ SENTOSA +65 6723 8003 CHANGI AIRPORT Ti +65 6723 8067 iruMi
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      243 3 PPP Laser Clinic congratulates Yuey Tan PORSCHE CARRERA CUP ASIA 2013 Share 100 PPP LLCS Treatments with 8 ML 8 CT 8 LLCS Combo Treatments Paragon for $4,200wgst Call our outlets for more info T&C Applies HEADQUARTERS AESTHETIC MEDICAL PARTNERS PTE LTD AESTHETIC MEDICAL HOLDINGS PTE LTD 290 Orchard Road
      243 words
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon Reits shore up Q3 equity deals amid volatility
      496 4  -  For nine months ended Sept, Reit equity deals made up 39% of total BY KENNETH LIM kenlim@sph.com.sg EQUITY capital raising in Singapore slowed year-on-year in a volatile third quarter, but real estate investment trusts helped maintain year-to-date volumes at a five-year high.
      Source: Thomson Reuters  -  496 words
    • Article
      Lock icon Avic rides wave of China’s shipyard boom
      503 4  -  Deltamarin buy gives it niche with ship-design arm By MALMINDERJIT SINGH msingh@sph.com.sg EVEN as some shipbuilding companies here find that up-and-coming Chinese shipyards are nipping at their heels, Avic International Maritime Holdings is riding the swell created by the supply of vessels coming
      503 words
    • Article, Illustration
      Lock icon Geo Energy inks deals with Indonesian coal miner
      386 4  -  By CARINE LEE carinel@sph.com.sg GEO Energy Resources has struck two deals with Indonesia’s coal-mining company PT Parisma Jaya Abadi (PJA). The first is a mining services contract under which Geo Energy’s subsidiary PT Mitra Nasional Pratama (MNP) will provide such services to
      386 words
    • Article
      Lock icon Ley Choon bags 4 contracts worth $30.6m
      323 5  -  By JACQUELYN CHEOK jaccheok@sph.com.sg LEY Choon Group Holdings has won four contracts amounting to about $30.6 million, raising its order book to $233.4 million. Two of the contracts worth $23.6 million came from PowerGas Ltd. Both commenced this month and are slated for
      323 words
    • Article
      Lock icon Dubai Islamic bonds best global performer
      642 5 Bloomberg [DUBAI] Dubai’s Islamic bonds are the world’s best performing sovereign dollar sukuk this quarter as the economy of the Persian Gulf business hub gathers steam, with bank profits, tourist numbers and real estate prices rising. Seven of the top 10 best-performing government sukuk
      Bloomberg  -  642 words
    • Article, Illustration
      Lock icon EMS bags US$36m contract
      448 5  -  Deal paves way for two more similar size contracts in near future, it says By JASMINE NG jasng@sph.com.sg EMS Energy has received a contract to build a derrick equipment set for a ten-der-assisted drilling rig for US$36 million and expects to secure two more simi-lar-sized deals
      BT FILE PHOTO  -  448 words
    • Article, Illustration
      Lock icon ISDN pumps more into hydropower
      392 7  -  It buys 80% stakes in 2 more businesses in Indonesia for US$1.9m BY CAI HAOXIANG haoxiang@sph.com.sg INTEGRATED engineering solutions provider ISDN Holdings said yesterday that it acquired 80 per cent stakes in two more Indonesian hydropower-related businesses for a total of US$1.9 million. The acquisitions
      392 words
    • Article
      Lock icon India’s Larsen may list unit in S’pore: sources
      363 7 Bloomberg [MUMBAI] Larsen Toubro Ltd, India’s largest engineering company, is considering a Singapore listing for its toll-road projects that could raise about US$700 million, said two people with knowledge of the process. Larsen may sell units in a business trust backed by
      Bloomberg  -  363 words
    • Article
      Lock icon Changi launches duty-free shopping website
      258 7  -  By JOYCE HOOI joyceh@sph.com.sg TAX- and duty-free shopping now starts even before you arrive at Changi International Airport. Changi Airport Group (CAG) has launched an online shopping site called iShopChangi for travellers raring to get a head-start on their shopping. With the website, passengers can
      258 words
    • Article
      Lock icon Malaysia’s Seven Convenience plans RM700m IPO
      263 7 Reuters [KUALA LUMPUR] Seven Convenience Bhd, a 7-Elev-en convenience store chain operator in Malaysia, is offering up to 530.33 million shares in an initial public offering (IPO) that could be worth about RM700 million (S$273 million), a draft prospectus showed yesterday. The IPO is
      Reuters  -  263 words
    • COMPANY BRIEFS
      • Article
        Lock icon CCT’s committed term loan facilities extended
        83 7 CAPITACOMMERCIAL Trust’s (CCT’s) trustee, HSBC Institutional Trust Services (Singapore) Limited, has obtained an extension of committed term loan facilities totalling $450 million and a revolving credit facility of $100 million, which would have otherwise expired in 2014 and 2015. The trustee also secured a
        83 words
      • Article
        Lock icon Viz Branz to be delisted today
        40 7 PLUTO Rising Pte Ltd has completed the compulsory acquisition of Viz Branz. The latter has become a wholly owned subsidiary of Pluto Rising and will be delisted from the Singapore Exchange today from 9am.
        40 words
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      Lock icon Page 4 Advertisements Column 1
      125 4 Singapore MEDiAriipjl Lecture 2013 Mediation: The Way Forward Speaker The Right Honourable the Lord Woolf Former Master of the Rolls (1996 2000) and former Lord Chief Justice of England and Wales (2000 2005). Lord Woolf has been at the forefront of the development and acceptance of mediation in England and
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      Lock icon Page 4 Advertisements Column 2
      356 4 CIX/T A DT Investment kjiTArVIVX International Property Expo LOCAL OVERSEAS PROPERTY STOCKS FUNDS ALTERNATIVE INVESTMENT 28 (Sat) 29 (Sun) September 2013 11am 7pm 1 Hall A, Sands Expo Convention Center, Marina Bay Sands (Bayfront MRT station, Exit D) FREE ENTRY REGISTER NOW www.smartexpos.com/sg MILLIONAIRE'S PANEL Lively debate that compares and
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      87 5 hermès. time reinvented. arceau. le temps suspendu la montre hermès reinvents time and sets it to the tempo of your desires. press on the pushbutton and suspend time. beneath the dial, time continues to run within the heart of the mechanism. another push on the button sets the date and
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Day of quiet and featureless trading
      609 6  -  Little cause for punters to go long or short, market ends flat in penny-driven session STOCKS R SIVANITHY sivan@sph.com.sg Senior Correspondent FOLLOWING the excitement of the past week when the US Federal Reserve surprised markets by not tapering its monetary stimulus, yesterday’s trading was
      Source: Bloomberg  -  609 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      73 6 Sep 24 VALUE CLOSE BT OB/OS 239.0 -141.0 BT CADI -*****.0 +5.00 BT 10-day MA -*****.00 +24.00 FTSE ST Mid Cap 788.60 -0.20 FTSE ST Small Cap 580.14 +0.03 FTSE ST All Share 792.60 -0.49 FTSE ST China Top 205.40 +1.55 FTSE ST China 233.56 +0.66 FTSE
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 5 4 0 0 0 6 5 4 Manufacturing 57 51 44 9 11 9 66 62 53 Commerce 28 16 21 6 5 4 34 21 25 Tpt/Stor/Comms 18 13 11
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 33,556 33,556 56,050 56,050 Manufacturing 703,204 110,515 813,719 230,169 11,457 241,627 Commerce 353,259 473,236 826,495 60,292 36,719 97,010 Tpt/Stor/Comms 111,441 16,710 128,151 161,138 7,366 168,504 Finance 86,208 749 86,957 143,051 329 143,380 Construction 362,089 1,256,097
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    • Article, Illustration
      Lock icon BROKERS’ TAKE
      948 6  -  Compiled by KENNETH LIM Singapore land transport Maybank Kim Eng Research, Sept 24 WITH stagnating bus fares and rising cost from inflationary pressure, the two existing operators have been running loss-making operations for years. Under a business model that is financially unviable, we believe that SMRT and SBS
      Source: Bloomberg  -  948 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      114 6 Stock name Close Change CapMallsAsia 1.965 -0.020 CapitaLand 3.160 -0.010 CapitaMall 1.965 -0.010 CityDev 10.310 -0.040 ComfortDelGro 1.940 -0.020 DBS Grp 16.570 -0.050 GLP 2.890 +0.010 Genting SP 1.455 +0.005 Golden Agri 0.530 -0.010 HK Land 6.580 -0.130 HPH Trust US$ 0.785 JMH 56.610 +0.710 JSH
      114 words
    • Article, Illustration
      Lock icon Rupiah hits 4½-year low; RM, peso down
      512 6 CURRENCIES Reuters [SINGAPORE] The Indonesian rupiah fell to its lowest level in 4½ years yesterday, leading slides among emerging Asian currencies amid uncertainty over whether the US Federal Reserve will begin scaling back its stimulus later this year. The rupiah lost ground on
      Reuters; PHOTO: AP  -  512 words
    • Article
      Lock icon MOST ACTIVE STOCKS
      51 6 VOLUME YHM 1,248,553,000 TopGlobal 262,507,000 HanKore 255,850,000 Albedo 204,209,000 Metech Int 149,489,000 SingHaiyi 123,666,000 Oakwell Engg 105,408,000 Rowsley 103,709,000 Digiland 90,278,000 AdvanceSCT 76,805,000 VALUE($) YHM 80,389,742 Rowsley 67,593,190 SingTel 60,461,805 DBS Grp 56,792,110 Yangzijiang 55,978,200 Ezra 42,149,740 Wilmar 30,820,605 Golden Agri 28,777,750 Keppel Corp 27,081,560 UOB 27,073,180
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    • Article
      Lock icon RISES
      111 6 BY CENTS CLOSE UP JMH 5661 88.9 1.3 JSH 3540 50.1 1.1 DBS Bk 4.7% NCPS 100 ***** 39.0 0.4 DBXT S&P Short 10US$ 2846 20.0 0.6 IS LC BND 100US$ 970 17.5 1.5 Ocean Sky 44 11.0 33.3 Great Eastern 1692 9.0 0.5 RH PetroGas 67.5 8.5 14.4
      111 words
    • Article
      Lock icon FALLS
      129 6 BY CENTS CLOSE DOWN IS S&P500 ***** -400.7 -1.8 DBXT MSKorea 10US$ 6116 -162.8 -2.1 DBXT MSEurope 10US$ 5569 -152.8 -2.1 GLD 10US$ ***** -131.5 -0.8 DBXT MSTHAI 10US$ 2070 -102.7 -3.8 Jardine C&C 3670 -79.0 -2.1 DBXT MSAsExJp 10US$ 3361 -65.1 -1.5 STXPO 100 278 -40.0 -12.6 DBXT
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 6 DAILY
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      Lock icon Page 7 Advertisements Column 1
      257 7 Buy-To-Lease Luxury Hotel Investment DO NOT disturb person SLEEPING JNS'OE is making me money Capitalise from the booming hotel industry with over 75% occupancy year round C9 Hotelworks, 2013 Hotel Market Update Invest $35,000 Minimum investment amount FLY BEFORE YOU BUY FREE INSPECTION VISIT YOU CAN ONLY INVEST WHEN YOUR
      257 words
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      Lock icon Page 7 Advertisements Column 2
      48 7 MEGAWIND *0 S> Ay m cr V 2H Ji V> /V^i //< i f* ivBeF HOROLOGICAL LAB WWW.MBANDF.COM H THE HOUR GLASS SINGAPORE PARAGON MORE PASSION TEL: 65-6735 6466 ION ORCHARD L'ATELIER TEL: 65-6509 9268 KNIGHTSBRIDGE MALMAISON TEL: 65-6884 8484 KUALA LUMPUR PAVILION SHOPPING MALL TEL: 603-2148 8930 WWW.THEHOURGLASS.COM
      48 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Smaller pre-school operators to get $40m boost over 5 years
      323 8  -  The sum will help defray cost of setting up centres in high-demand areas B)’ VIVIEN SHIAO vshiao@sph.com.sg THE government has unveiled a suite of schemes worth $40 million to provide infrastructural support to pre-school operators setting up centres in high-de-mand
      FILE PHOTO  -  323 words
    • Article, Illustration
      Lock icon Many cardholders unsure of how to activate cards: poll
      459 8  -  BY JACQUELYN CHEOK jaccheok@sph.com.sg EIGHT in 10 Singapore consumers (79 per cent) are aware that they need to activate their debit and credit cards for overseas purchases, but a quarter of them do not know how to do so, a survey
      FILE PHOTO  -  459 words
    • Article
      Lock icon PICTET
      273 8 Pictet-Absl Rtn Glo Cons-P EUR 19/09/2013 EUR 100,65 Pictet-Absl Rtn Glo Div-P EUR 19/09/2013 EUR 111,95 Pictet-Asian Equities Ex Japan-P USD 20/09/2013 USD 179,42 Pictet-Asian Local Currency Debt-P USD 20/09/2013 USD 145,47 Pictet-Biotech-P USD 19/09/2013 USD 537,40 Pictet-Clean Energy-P USD 19/09/2013 USD 76,65 Pictet-Digital Communication-P USD 19/09/2013 USD 190,30
      273 words
    • Article
      Lock icon NTU, tech investor 360ip open SME support centre
      287 8  -  BY JACQUELYN CHEOK jaccheok@sph.com.sg SMALL and medium-sized enterprises (SMEs) here can now enjoy the services of the newly launched TechBridge Ventures a joint venture set up by Nanyang Technological University (NTU) and technology investment company 360ip to support and accelerate the development
      287 words
    • Article
      Lock icon Tharman urges S’pore firms to head for Russia
      395 8  -  Russian firms can also use S’pore as base to expand in Asean, Asia B)’ KELLY TAY kellytay@sph.com.sg AS the Russian economy diversifies and grows, Singapore investors can tap the business opportunities in areas such as urban solutions and lifestyle products the demand
      395 words
    • SINGAPORE ROUNDUP
      • Article
        Lock icon Lock+Store opens new air-conditioned facility
        68 8 LOCAL self-storage service provider Lock+Store said it has opened a new self-storage facility in Serangoon North. The fully air-conditioned facility was launched to meet the growing demand for air-conditioned storage among households and SMEs here. The facility has 255 units spanning over 10,371 sq ft
        68 words
      • Article
        Lock icon NUS, DBS start ‘Social Venture Challenge’
        133 8 NUS Enterprise and DBS Bank have launched a regional start-up competition that aims to raise awareness and build a social entrepreneurship culture in Asia. Called the DBS-NUS Social Venture Challenge Asia, the competition will be open to the public and participants from the region
        133 words
      • Article
        Lock icon Victor Mills named new COO of SICC
        48 8 THE Singapore International Chamber of Commerce (SICC) has appointed Victor Mills as its chief operating officer. Mr Mills brings 30 years of commercial experience to SICC, having worked for banks such as HSBC and Standard Chartered in a variety of roles.
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      • Article
        Lock icon Asian art fest, design fair get Kickstart
        102 8 A VISUAL arts festival on emerging South-east Asian artists and an art and design literature fair will be among the first projects to be awarded funding of up to $75,000 in the first application cycle of the Kickstart Fund. These projects were selected
        102 words
    • Article
      Lock icon Competition Commission to get new CEO
      292 8  -  BY VIVIEN SHIAO vshiao@sph.com.sg TOH Han Li has been named the new chief executive officer of the Competition Commission of Singapore (CCS), taking over from Yena Lim, who will step down on Sept 30. Mr Toh is currently assistant chief executive (legal and enforcement)
      292 words
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      81 8 The FUNNIEST show you are likely to see in your ENTIRE LIFETIME! Montreal Gazette ABA Productions The Reduced Shakespeare Company proudly present THE COMPLETE WORKS OF LWJIIiamTShakesRear'ei Written by Adam Long, Daniel Singer and Jess Winfield I RR Additional Material by Reed Martin LONDON’S LONGEST-RUNNING COMEDY! m •i: 5* hlrs
      81 words
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      Lock icon Page 8 Advertisements Column 2
      20 8 Pacify the Raging Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Apology Notices MATS NOTICES CLA/FEB1 1/g
      20 words
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  • WORLD OF OPPORTUNITIES
    • Article, Illustration
      Lock icon Towards a common accounting language
      1188 9  -  Firms must find a balance between complying with accounting standards and growing their business. Reports by KAN KWOK LEONG CONSTANTLY evolving accounting rules are putting a strain on businesses struggling to comply, but this should not hamper efforts to develop a common and robust set
      ST FILE PHOTO  -  1,188 words
    • Article
      Lock icon The journey to convergence
      177 9 THE International Accounting Standards Board (IASB) is an independent accounting standard-setting body responsible for developing International Financial Reporting Standards (IFRS) and promoting the use of these standards. For over a decade, the IASB has worked together formally with the United States Financial Accounting Standards Board (FASB)
      177 words
    • Article
      Lock icon Fighting accounting fatigue
      115 9 HOW can businesses mitigate the risks posed by constantly changing accounting standards? EY partner Chiang Joon-Arn gives his suggestions. N Get external assistance from accounting advisers to act as an independent platform in challenging the quality and extent of financial information. NEngage your auditors early to have
      115 words
  • Page 9 Advertisements
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      155 9 With a long-running history of showcasing innovative thinkers and industry foresight, the conference will equip you with the tools, strategic knowledge and leadership skills needed to succeed in this ever-changing world. P u t i ns p i ra t i on i n t o ac t i on
      155 words
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  • FORWARD THINKERS
    • Article, Illustration
      Lock icon Marketing in a digital age
      1834 10  -  P&G is constantly innovating to stay in touch with the consumer wherever she is and is reaping great success doing so By KELLY TAY kellytay@sph.com.sg VERY 23 seconds, a bottle of SK-II’s Facial Treatment Essence is sold somewhere in the world. So claims Procter Gamble,
      PHOTO: YEN MENG JIIN  -  1,834 words
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      684 11 I 7% p Nearly two out of three companies plan to invest more in social technology over the next three years. Could you use an extra day of productivity from your staff each week? Social technology can help increase efficiency by as much as 25%. *1* P fli if '4y
      684 words
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  • MALAYSIA/INDONESIA
    • Article, Illustration
      Lock icon Maybank’s investment banking head resigns
      514 12  -  His resignation follows that of the head of the bank’s Indonesian unit By PAULINE NG in Kuala Lumpur MALAYSIA’S Maybank has lost another of its unit chiefs with the resignation yesterday of its investment banking head, Tengku Zafrul Aziz. His quitting follows this month’s resignation
      PHOTO: REUTERS  -  514 words
    • Article
      Lock icon Third M’sia-S’pore link could cost up to RM20b: report
      264 12 [KUALA LUMPUR] The proposed third link between Johor and Singapore may cost as much as RM20 billion (S$7.8 billion), depending on the project structure and the starting points of the bridge in both countries. People with first-hand information of the matter
      264 words
    • Article, Illustration
      Lock icon Dealers unhappy with some BI rupiah measures
      739 12 Its moves have led to an opaque spot market for currency Reuters [JAKARTA] The Indonesian rupiah is Asia’s worst-per-forming currency this year, but deciphering its level involves far more than simply looking at a trading screen, owing in part to distortions created by
      Reuters; PHOTO: REUTERS  -  739 words
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      238 12 ESPLANADE PRESENTS STEVE GADD BAND JJTosaic FEATURING STEVE GADD LARRY GOLDINGS JIMMY JOHNSON MICHAEL LANDAU WALT FOWLER USA EVERY DRUMMER WANTS TO PLAY LIKE GADD BECAUSE HE PLAYS PERFECT." CHICK COREA Undisputed master of groove and percussive magic Steve Gadd, together with his all-star cast of musicians, will present music
      238 words
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      195 12 SHOWTIME PRODUCTIONS PRESENTS THE ]AZZ ORGAN SUMMIT t 'i 0 ffr WITH TONY MONACO ALBERTO /AARS1CO U.S.A. ITALY 3EREMY /AONTEIRO SINGAPORE Watch three great jazz organists from around the world, all in one night. As part of a special series of concerts, The Jazz Organ Summit will feature performances by
      195 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon Essar borrows US$300m from Chinese bank
      782 13 Group plans to replace rupee debt with dollar loans, cut interest expenses Bloomberg [NEW DELHI] Indian billionaire brothers Shashikant and Ravikant Ruia, recasting US$4.1 billion in Essar Group debt, are tapping loans from Chinese banks to cut the cost of funding their oil-to-steel empire.
      Bloomberg; PHOTO: REUTERS  -  782 words
    • Article
      Lock icon Shanghai trade zone to enjoy Internet freedom
      359 13 Sites such as Facebook, Twitter and NYT won’t be blocked Reuters [SHANGHAI] Facebook, Twitter and other websites deemed sensitive and blocked by the Chinese government will be accessible in a planned free-trade zone (FTZ) in Shanghai, the South China Morning Post reported yesterday.
      Reuters  -  359 words
    • Article
      Lock icon Overcapacity will drive China M&A deals: PwC
      568 13  -  By JULIE ZHU EJ In sight [HONG KONG] The need to weed out excessive capacity against the backdrop of stalling economic growth will drive mergers and acquisitions (M&A) deals in China in the coming years, according to a senior executive of PricewaterhouseCoopers (PwC).
      EJ Insight  -  568 words
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      174 13 "An/ epcedknl disi ohJaps (equis uZti carefndty qroudu cud raised produce.' Julien Royer, Chef de Cuisine ARTISANAL CUISINE, A WAY OF LIFE. Embrace Summer with a seasonal menu flourished with bountiful harvests. JAAN was ranked 22 nd and awarded the "One to Watch" by S. Pellegrino's Asia's 50 Best Restaurants
      174 words
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  • WORLD
    • Article, Illustration
      Lock icon Bet on Essent made during crisis paying off
      828 14 Goldman Sachs, JPMorgan, Soros poised for gains as firm files for IPO Bloomberg [NEW YORK] Goldman Sachs, JPMorgan and billionaire George Soros are poised for gains from a housing bet placed in the depths of the financial crisis. Essent Group, the Ber-muda-based
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    • Article
      Lock icon France makes fresh start at job training reform
      360 14 Reuters [PARIS] French trade unions and employers began a fresh attempt yesterday to make a training system that absorbs billions of euros a year more effective in equipping people to fill hundreds of thousands of vacant jobs. Socialist President Francois Hollande has
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    • Article
      Lock icon Microsoft unveils new Surface tablets with improvements
      313 14 Upgraded with more processing power, longer battery life AFP [NEW YORK] Microsoft has unveiled two new versions of its Surface tablet, renewing its efforts in mobile computing after the product’s launch a year ago failed to impress consumers. The Surface 2 and Surface
      AFP  -  313 words
    • Article, Illustration
      Lock icon Ailing BlackBerry agrees to a probable US$4.7b buyout
      594 15 Tech pioneer signs letter of intent with a group that plans to take it private AFP [OTTAWA] Tech pioneer BlackBerry made a last roll of the dice on Monday and agreed to a probable US$4.7 billion buyout by a consortium planning to
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    • Article
      Lock icon German business confidence up for 5th month
      407 15 Bloomberg [FRANKFURT] German business confidence increased for a fifth month in September amid signs the recovery is continuing in the euro area, the nation’s biggest trading partner. The Ifo institute’s business climate index, based on a survey of 7,000 executives, climbed to 107.7
      Bloomberg  -  407 words
    • Article, Illustration
      Lock icon Philippines’ monetary policies win IMF praise
      574 16  -  Its defences against external turbulence such as QE a model for others, it says B)’ ANTHONY ROWLEY in Tokyo AS one of a number of Asian economies buffeted by the fallout from US monetary easing and then threatened tapering, the Philippines has emerged with
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    • Article
      Lock icon Swedes, Danes set to lead way on leverage ratio
      584 16 Move will help catch banks understating loss probabilities Bloomberg [COPENHAGEN] Scandinavia is once again showing that it won’t wait for the European Union (EU) when it comes to banking regulation as the AAA-rated region moves to curb financial industry leverage. After
      Bloomberg  -  584 words
    • Article
      Lock icon Credit Suisse wealth unit to trim operations
      183 16 Reuters [ZURICH] Credit Suisse’s wealth management business will pull out or partially withdraw from some 50 countries by the end of the year, a Swiss newspaper reported yesterday, as part of a drive to save 4.4 billion Swiss francs (S$6.1 billion). The move,
      Reuters  -  183 words
    • Article
      Lock icon US agency sues 13 banks in Libor rate-fixing case
      421 17 NCUA is aiming to recover some funds lost by five credit unions it supervised AFP [NEW YORK] The US credit union regulator has filed an anti-trust lawsuit against 13 major international banks as part of the global crackdown in the Libor
      AFP  -  421 words
    • Article
      Lock icon Race bias case: BOA told to pay US$2.2m
      285 17 Judge’s order to benefit over 1,100 people in a case spanning some 20 years Bloomberg [NEW YORK] Bank of America Corp (BOA) was ordered to pay US$2.2 million to black job applicants who were unfairly rejected for teller and clerical positions in
      Bloomberg  -  285 words
    • Article, Illustration
      Lock icon Move to gender equality is losing momentum: IMF
      660 17 Reuters [WASHINGTON] Progress toward achieving gender equality around the globe has stalled in recent years, with women still holding fewer salaried jobs than men and receiving lower wages for their work, the IMF said in a study. Under its first female chief,
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      72 14 > r <& '2» 5 fg 's 1 a I K d y With over 5,000 listings in prime locations, it’s easy to find what you’re searching for. Discover Top 10 Popular Projects every week 13 “Sort by psf” feature helps you find the best-value property Compare up to 3
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      191 15 Better manage the shadow plays in business by shining the light of true understanding NUS Business School Executive Education programs Authentically Asian insights EXECUTIVE EDUCATION ADVANCED MANAGEMENT PROGRAM: ASIA IN FOCUS 10 21 March 2014, Singapore Offering an innovative perspective on global and Asian business, the Advanced Management Program helps
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      1614 15 OAKWELL ENGINEERING LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****3368H) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (“EGM”) of the Company will be held at No.8 Aljunied Ave 3 Oakwell Building Singapore *****3 on 18 October 2013 at 3.00 p.m.,
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      72 16 Hit The CAREER JACKPOT With STJobs With over 40,000 jobs available daily, you'll be sure to find something that suits you. STJOBS INFORMATION TECHNOLOGY Over 2,200 positions STJOBS ACCOUNTING FINANCE Over 2,500 positions STJOBS ADMIN OFFICE SERVICES Over 5,200 positions Log on to STJobs.sg and find your ideal job today.
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      19 17 China's "grey income" in 2011 amounted to 12% of its GDP To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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      174 17 [«-AT3 NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices HYFLUX LTD Company Registration No.: *****2722Z (Incorporated in the Republic of Singapore) NOTICE OF CLOSURE OF BOOKS FOR 6% CUMULATIVE NON-CONVERTIBLE NON-VOTING PERPETUAL CLASS A PREFERENCE SHARES (TRADING NAME: HYFLUX 6% CPS 10) (“PREFERENCE SHARES”) NOTICE IS HEREBY GIVEN that the Share
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      233 17 Careers in Engineering I fCATS RECRUIT IN THE STRAITS TIMES, 5 October 2013 (SAT) J Take advantage of this special recruitment feature to showcase challenging careers in engineering and attract the best talent for your company. m For more details advertisement bookings, please contact: Adrian Neo Tel 6319 6164 Hp9711
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      255 17 In the Matter of The Companies Act (Chapter 50) And In the Matter of PACIFICVISION MEDICAL PTE. LTD. (In Members’ Voluntary Liquidation) Co. Reg. No. *****8065Z And VISION GLOBAL HEALTHCARE PTE. LTD. (In Members’ Voluntary Liquidation) Co. Reg. No. *****7045Z NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant
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      208 17 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF MAN INVESTMENTS (SG) PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****5566N NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that, pursuant to Section 308 of the Companies Act, Chapter 50, the Final Meeting of
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  • Page 17 Miscellaneous
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      31 17 h'-irl JACKPOT Estimated Draw on Thu, 26 Sep 2013 at 6.30pm For details, visit www.singaporepools.com.sg I PLAY® Always play with care. Do not bet illegally. RGB Reg No: *****0202G SINGAPORE POOLS
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  • EDITORIAL & OPINION
    • Article
      Lock icon Job discrimination: skills at root of issue
      504 18 EDITORIAL MONDAY’S government announcement that companies need to prove that they tried to hire Singaporeans first before recruiting foreign professionals should come as no surprise. Such a change was hinted at during February’s Budget session. From next August, companies with more than 25
      504 words
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      Lock icon Can China follow through on win-win cooperation?
      794 18  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 CHINESE Foreign Minister Wang Yi, in Washington for talks with US Secretary of State John Kerry, spoke about a new model of Sino-American relations
      794 words
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      Lock icon China’s economy not out of the woods yet
      1184 18  -  Recent rebound masks weaknesses in key sectors of the economy and the banking system By VIRGINIE MANGIN in Beijing CHINA’S August data momentarily answered the question of whether the world’s largest economy was heading for a hard or soft landing. Most indicators
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      Lock icon QE – good but addictive medicine
      1400 19  - QE good but addictive medicine Central banks must realise that unconventional monetary policy is not a cure-all and that it comes with responsibilities ANTHONY ROWLEY Tokyo Correspondent TO “taper” or not to taper? That is the question taxing US Federal Reserve chairman Ben Bernanke and fellow members of the US
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      Lock icon Fed’s announcement a reminder to investors
      779 19  -  By KRISTINA HOOPER The writer is head of investment and client strategies at Allianz Global Investors. The views expressed are her own. FOLLOWING the two-day meeting of its Federal Open Market Committee (FOMC), the US Federal Reserve announced on Sept 18 that it would
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  • Transport HUB
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      Lock icon Paying the salvors
      993 20  -  Shipping needs to resolve the tension between rising salvage costs and shipowners’ needs STRAIT TALK By DAVID HUGHES NTIL a week or so ago the verb to “parbuckle” was not a familiar one to most viewers of the world’s news services. Then came the coverage of the
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    • Article
      Lock icon Dry bulk sector set to return to profit
      417 20 Bloomberg [LONDON] The shipping industry hauling commodities from coal to crops to iron ore is poised to return to profit for the first time since 2010 as the biggest capacity glut in its history diminishes. Trade in the three largest dry-bulk cargoes
      Bloomberg  -  417 words
    • TRANSPORT HUB: AVIATION
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        Lock icon Air France bides its time on Alitalia
        543 21 Board requests more information from Italian counterpart before its next move Bloomberg [TOULOUSE] Air France-KLM Group showed reluctance to embrace a larger investment in Alitalia SpA, as the board of the French carrier requested more information from its Italian counterpart before committing to
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      • Article, Illustration
        Lock icon Seoul rejects Boeing fighter bid
        505 21 F-15 SE deemed incapable of facing threat from North AFP [SEOUL] South Korea decided yesterday against awarding a US$7.7 billion jet fighter deal to Boeing Co for 60 F-15 Silent Eagles, saying it would re-tender its largest ever defence contract. The deal was aimed at
        AFP; PHOTO: REUTERS  -  505 words
      • Article
        Lock icon Delta, Virgin win antitrust immunity for US alliance
        366 21 AFP [WASHINGTON] The US government granted Delta Air Lines and Virgin Atlantic Airways antitrust immunity for their proposed transatlantic joint venture, saying it would likely boost competition. The Department of Transportation said it had approved the request from the two airlines for
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      • Article
        Lock icon Airbus hikes 20-year plane demand forecast
        280 21 Reuters [LONDON] Airbus revised higher its long-term demand forecast by 3.6 per cent yesterday, saying the aviation industry would need 29,226 new passenger and freight jets worth US$4.4 trillion over the next 20 years, led by growth in Asia. The new 20-year forecast includes
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    • TRANSPORT HUB: LAND
      • Article
        Lock icon Fiat rethinks tie-up after Chrysler’s IPO filing
        799 22 Analysts say workers’ trust move is to extract higher offer from major shareholder Fiat Reuters [DETROIT] Chrysler Group was forced to file paperwork for an IPO by its second-biggest shareholder, escalating a spat with main owner Fiat SpA which said it could scale
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      • Article, Illustration
        Lock icon GM raised to investment grade by Moody’s
        756 22 WP [SOUTHFIELD, Michigan] General Motors was raised to investment grade for the first time in eight years and moved to continue paying back stakeholders from its 2009 bailout with plans to buy preferred shares held by a union healthcare trust. Moody’s Investors Service
        WP; PHOTO: AFP  -  756 words
    • Article
      Lock icon SHIPPING TIMES
      2474 23 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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      354 20 M STPROPERTY SEMINAR ih 08 ,i G' n A Strategy For The Smart Investor HOW TO CAPITALISE ON CURRENT MARKET TRENDS b POLICIES The government has recently announced its Future development plans For Bidadari Estate, Punggol Matilda, Tampines North and the Paya Lebar Airbase. How would that, together with the
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      34 21 sgCarMart (S)UOTZ Made Simpler SELL YOUR CAR BY BIDDING! HIGHEST PRICE GUARANTEED! pR\cr HVGVAtST m Online bidding by over 300 used car dealers! Call us now for a FREE Car Valuation 6744 7571 www.sgcarmart.com/quotz
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  • Page 21 Miscellaneous
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      311 21 CRYPTIC CROSSWORD Across 1 For each error the compiler’s tolerant (10) 6 Lover’s knot, it’s said (4) 9 One providing security in the main? (10) 10 Macho man’s twosome’s back without sweetheart (4) 12 Reportedly keep hidden inflatable toy (4) 13 Shop say protecting press right to the end! (9)
      311 words
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      33 22 The latest jobs,fresh out of the oven. If you’re thinking of making a career change, check out the latest job opportunities career insights in CATS Recruit. Now available on the CATS Classified App
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      43 23 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? Shippers 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
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      18 23 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times Shipping Dmes
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      1907 24 mporters ooking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT *****327 I USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times Shipping Times 12 TheBusiness Times, Thursday, July 18, 2013 G Calling for
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  • SINGAPORE STOCKS
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      Lock icon SGX MAINBOARD
      3104 25 Transaction date: Sep 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 15 11.9 8Telecom Vol Day Last Quote Div Gr Yld Net 188 106 AIMSAMPIReit High Low Company Sale 75 57
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      Lock icon SGX CATALIST
      239 26 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 187
      239 words
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      Lock icon UNIT TRUST & FUNDS
      11145 26 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha FuncTCI A!** Aberdeen Asset Mgt Asia Limited APS Alpha Fund (USD)!** 1.16/ Aberdeen Asset Mgt Asia Limited Global Emerging Markets!** Asian Smaller Cos!" 1 9411/ EM Local Ccy Bond 0.9335/ European Opportunities!’’ 1.277/ Global Emerging Markets!” 1.9017/ China
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      Lock icon GLOBALQUOTE
      249 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Low 52 31 Genting HK US$ US43 unch 3181 43 41.5 42 43 2831.3 Company 274 191 TanChongInt HK273 +5 816 274 270 273 275 4.3 2.6
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      Lock icon SGX ETF
      879 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Low 143 125 CIMB APAC Div 100S$D 135 129.9 130.8 114.4 99.2 CIMB APAC Div 100US$ US106.5 103.9 104.6 11.2 1510 1192 CIMBASEAN40 100S$D 1342 -11
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  • FINANCE & COMMODITIES
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      Lock icon SGX DERIVATIVES TRADING
      618 27 Sep 24 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.04 *****.72 *****.27 Dec13 *****.00 *****.00 *****.00 *****.00 ***** *****7 Mar14 *****.00 *****.00 *****.00 *****.00 0 117 MSCI TAIWAN INDEX FUTURES SPOT 293.57 294.12 292.22 Sep13 293.30 294.30 292.00 293.90 ***** *****2 Oct13 292.50
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 27 In local curr In S$ In US$ dy yr dy yr dy yr Sep 23 Index Change Change Change Change Change Change World Preliminary 1107.2 -0.6 18.0 -0.5 19.1 -0.5 16.3 EAFE Preliminary 912.7 -0.5 17.8 -0.2 17.0 -0.2 14.2 Europe Preliminary 1294.5 -0.7 12.8
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    • Article
      Lock icon INTERBANK CROSS RATES
      471 27 Sep 24 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.967 5.756 0.696 7.292 58.744 108.317 0.932 10.094 3.019 1.131 99.787 40.799 1.178 9.263 0.856 27.820 29.405 0.587 0.941 Canada 1.034 5.953
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      Lock icon SIBOR
      53 27 Sep 24 (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$) 1 mth 1 mth 2 mths 2 mths 0.***** 9 mths 6 mths 12 mths 9 mths
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      Lock icon GOVERNMENT SECURITIES
      88 27 Sep 24 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 6-Month BS*****F 21-Mar-14 0.28 1-Year BY*****H 02-May-14 0.29 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-15 99.92 99.97 99.97 5-Year N*****0T 0.5 01-Apr-18 98.24 98.45 98.30
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    • Article
      Lock icon PRECIOUS METALS
      136 27 Sep 24 GOLD(US$/oz) Sep 24 Sep 23 Hong Kong 1330.00 1337.00 Sep 23 Sep 20 London 1327.56 1337.60 1328.33 1338.35 Source: Thomson Reuters CAST BAR Sep 24 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 120 53 5gm 342 267 10gm 610 534
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      Lock icon PALM OIL
      57 27 Sep 24 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Oct 13 2328.0 2311.0 2331.0 2309.0 694 6172 Nov 13 2318.0 2306.0 2328.0 2295.0 3189 ***** Dec 13 2320.0 2301.0 2329.0 2291.0 ***** ***** Jan 14 2325.0 2305.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 27 Sep 24 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1772 1.1788 0.9402 0.9408 Canadian dollar 1.2175 1.2192 0.9730 0.9724 Euro 1.6918 1.6933 1.3512 1.3514 NZ dollar 1.0405 1.0420 0.8310 0.8316 Sterling pound 2.0066 2.0083 1.6026 1.6028
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 27 As at 9am Sep 24 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.205 1.148 Can dollar 1.240 1.193 Euro 1.729 1.647 Sterling pound 2.045 1.967 NZ dollar 1.069 1.028 US dollar 1.277 1.217 Local dollars to 100 units of foreign
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    • Article
      Lock icon INTERBANK RATES
      154 27 Sep 24 $S Offer Bid 0vernight 0.01 par 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.01 US$ Offer Bid 7 days 0.20 0.10 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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    • Article
      Lock icon CHICAGO BOT
      109 27 Sep 23 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Nov 13 1307.75 1315.25 1317.75 1305.50 Jan 14 1310.50 1318.00 1320.00 1308.50 Mar 14 1295.00 1300.25 1302.75 1292.75 May 14 1275.00 1277.25 1282.00 1270.25 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Oct 13
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    • Article
      Lock icon LIFFE
      95 27 Sep 23 COCOA (£/tonne) Close Prev High Low Dec 13 1703 1700 1711 1696 Mar 14 1679 1677 1686 1674 May 14 1667 1668 1677 1662 Jul 14 1658 1665 1670 1655 COFFEE(US$/tonne) Close Prev High Low Sep 13 1661 1651 1661 1661 Nov 13 1688 1678 1695 1671
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    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1087 27 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 Conv Asia-Pacific Strategic W*****6 0.6 1 123 191 70.83 8 Exer Albedo Limited W*****9 Prem Disc Ascendas Reit MB ECW*****3 Gear- Mths Asiatravel.com HoldingsW*****7 0.2 1 25 10
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    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 27 CRUDE OIL PRODUCTS Sep 23 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 108.13 -1.13 WTI (Near Mth) 103.67 -1.16 Dubai (1-Mth F) 105.78 0.05 Tapis blend 118.15 0.49 Minas 109.15 0.19 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 100.89 -0.61 Jet Kerosene 122.23 -0.40 US$/barrel OpecOil Basket
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    • Article
      Lock icon US$/S$ FORWARD RATES
      22 27 Sep 24 S$ Bid Offer 1-month 1.2521 1.2530 2-months 1.2520 1.2530 3-months 1.2520 1.2529 6-months 1.2517 1.2526 Source: OCBC
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    • Article
      Lock icon LONDON METALS
      66 27 Sep-23 Sep-23 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1770.75 1754.50 3 months 1817.50 1800.00 Copper, Grade A(US$/tonne) Cash 7214.00 7256.50 3 months 7245.00 7280.00 Lead(US$/tonne) Cash 2052.00 2056.25 3 months 2081.00 2084.00 Nickel (US$/tonne) Cash *****.00 *****.50 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
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      285 28 FRANCHISING LICENSING ASIA Exhibition Conference www.FranchiseLicenseAsia.com i 3 5 October 2013 I 10.30am 6.30pm (Thu Fh) 10.30am 5.30pm (Sat) Level 1 Hall B, Marina Bay Sands, Singapore Realise entrepreneurial dreams at the region’s premier franchise trade event! Visit the largest ever Korea Pavilion in FLAsia’s history! Over 230 brands 20
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      139 28 BYOB Be Your Own Boss 60^ 50/ V isy„ icZ w Make us your partner. Be your own boss. Join us as an Account Executive (Futures Broker Representative). As an Account Executive (Futures Broker Representative) with Phillip Futures, you can draw upon a wide range of financial products such as
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      414 29 ONE ETF POPS UP AS OPPORTUNITIES OPEN UP ACROSS ASIA VAPOf m war/, orea if As Asian economies rise, I 3 opportunities from an emergent asset class unfold. Asian local currency bonds provide two sources of potential return: regular current income and currency appreciation. Listed on the Stock Exchange of
      414 words
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  • executive Money
    • Article, Illustration
      Lock icon Europe looks promising right now
      1318 30  -  It presents a once-in-a-generation valuation opportunity and could outperform emerging markets for some time to come MONEY MATTERS LIM SAY BOON The writer is chief investment officer for Group Wealth Management and Private Banking, DBS Bank THE United States Federal Reserve’s decision last week to
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    • Article, Illustration
      Lock icon US govt opens start-up funding to crowds
      1153 28  -  Legislation, part of the Jobs Act, allows firms to seek equity investments publicly By JENNA WORTHAM NYT [NEW YORK] Entrepreneurs in the United States looking to the crowd to finance their big ideas just got a little extra help from the government. On
      NYT; PHOTO: AP  -  1,153 words
    • Article, Illustration
      Lock icon Young investors do it differently
      1393 29  -  They want to set themselves apart from their baby-boomer parents By PAUL SULLIVAN NYT TRYING to glean differences among the generations makes for an interesting parlour game. But last week, three reports by big financial institutions offered insights into how investors in their 40s and
      NYT; PHOTO: REUTERS  -  1,393 words
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      380 30 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
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      12 30 CROWDFUNDING Govt paves way for start-ups to raise funds online PAGE 28
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      23 1 September 2013 “all weather” portfolios This edition looks at investments that can withstand changes in the environment and last for the long term
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      114 2 BANKOFSINGAPORE International Private Banking Voted Best Private Bank in Singapore 2012 by Asian Private Banker You've always known that success goes beyond the balance sheet. ass Tin n m P t.-lL J m m m x: X Like you, we understand the value of investing in relationships. That's why Bank
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      150 3 Understanding yourself is the first step to becoming a more successful investor. By fully exploring your Financial Personality, we can help you create a portfolio that’s fully aligned to your investment ambitions. For more successful investing, discover your Financial Personality at investmentphilosophy.com or call +65 6308 3000. Wealth and Investment
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      176 4 contentsSeptember 2013 10 Weighing risk and return Turbulence in emerging markets may cause this regional bear market to expand and intensify over the coming months STOCK.XCHNG PHOTO: 14 Ready, Steady, Go Well-selected corporate bonds can act as portfolio stabilisers 16 Best of all worlds The success of the all-weather approach
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      38 5 “I’ve celebrated many a success. The one I’m most proud of will be four tomorrow.” Your life changes constantly. So do your personal needs. Whatever you plan for the future, Credit Suisse will help you achieve it. credit-suisse.com
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      151 6 contentsSeptember~ 2013 28 The glass is half full Structural~ growth~ of~ Asian~ equities~ remains~ intact~ despite~ short-term~ volatility 30 A double-edged sword Sparks~ may~ fly~~ when~ investments~ meet~ leverage,~ but~ speculation~ without~~ tight~ risk~ control~ may~ see~ investors~ getting~ burnt 32 Phuket A tropical island beckons After~ a~ slowdown~ following~~
      151 words
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      27 7 ONLY BY UNDERSTANDING THE PAST ARE YOU ABLE TO BUILD FOR THE FUTURE. For generations of wealth management, Coutts. coutts.com m. INVESTMENT MANAGEMENT PRIVATE BANKING WEALTH PLANNING
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  • Wealth
    • Article, Illustration
      Lock icon Editor’s note
      618 8  -  By Genevieve Cua HAT investors have had a change of heart about assets in the emerging markets has been evident since last year. But the market rout over the last few months, particularly among EM currencies, has raised renewed T concern. In the current year to early September,
      PHOTO: iSTOCKPHOTO  -  618 words
    • EMERGING MARKETS
      • Article, Illustration
        Lock icon WEIGHING RISK AND RETURN
        1164 10  -  TURBULENCE IN EMERGING MARKETS MAY CAUSE THIS REGIONAL BEAR MARKET TO EXPAND AND INTENSIFY OVER THE COMING MONTHS By Lim Say Boon Lim Say Boon is Chief Investment Officer for DBS Group Wealth Management and Private Bank MERGING Markets (EM) are in turmoil. These appear to
        PHOTO: iSTOCKPHOTO; Source: Bloomberg  -  1,164 words
    • FIXED INCOME
      • Article, Illustration
        Lock icon READY, STEADY, GO
        1088 14  -  WELL-SELECTED CORPORATE BONDS CAN ACT AS PORTFOLIO STABILISERS By Chew Soon Gek Chew Soon Gek (CFA) is Head of Asset Allocation Advisory Asia Pacific, Credit Suisse Private Banking and Wealth Management HE bond market has experienced a significant correction with core government yields rising and credit spreads
        PHOTO: STOCK.XCHNG  -  1,088 words
    • ALL-WEATHER PORTFOLIO
      • Article, Illustration
        Lock icon BEST OF ALL WORLDS
        940 16  -  THE SUCCESS OF THE ALL-WEATHER APPROACH DEPENDS ON THE INVESTOR FOLLOWING THE STRATEGY IN A CONSISTENT AND DISCIPLINED MANNER By Aditya Monappa Aditya Monappa is Head of Asset Allocation and Portfolio Construction, Standard Chartered Bank E VENTS of the past few years and the associated volatility
        PHOTO: STOCK.XCHNG  -  940 words
    • ROUNDTABLE
      • Article, Illustration
        Lock icon HARNESSING THE WINDS OF CHANGE
        2543 18 WORRIES over macro issues are perennial by now, and the search is on for “all weather”investments and portfolios that can withstand volatility and still preserve value. What exactly does an all-weather portfolio entail? Our panellists sound off. MACRO ISSUES ARE KEY CONCERNS OF INVESTORS. AGAINST
        PHOTOS: iSTOCKPHOTO  -  2,543 words
      • Article, Illustration
        Lock icon THE BUSINESS TIMES ROUNDTABLE
        192 21 Genevieve Cua, BT Wealth Editor poses questions to three wealth experts for their views on “all weather” investments and portfolios. James Cheo is Investment Strategist at HSBC Private Bank, Asia. He is responsible for providing investment strategy and generating tactical and thematic investment ideas across asset
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    • HEDGE FUNDS
      • Article, Illustration
        Lock icon Spoilt for choice
        926 22  -  THERE ISN’T ONE HEDGE FUND STYLE, BUTA PLETHORAOF HEDGE FUND STRATEGIES, WITH UNIQUE CHARACTERISTICS AND RISK/RETURN DRIVERS By Eleonore Dachicourt Eleonore Dachicourt (CFA) is a Director at Deutsche Bank Asset and Wealth Management and Head of Portfolio Solutions within Alternatives and Fund Solutions in Singapore NVESTING in
        PHOTO: STOCKPHOTO  -  926 words
    • ASSET ALLOCATION
      • Article, Illustration
        Lock icon GOODNESS ALL ROUND
        1213 24  -  THE BEST THAT ANY INVESTORCAN AIM FOR IS TO IMPROVE THEIRCHANCES OF SUCCESS IN ALL MARKET CONDITIONS THROUGH CAREFUL AND ACTIVELY MANAGED DIVERSIFICATION By Bryan Henning Bryan Henning is Head of Global Research and Investments, Asia Pacific, Middle East and Africa, Barclays ‘T HE markets generally are
        PHOTO: STOCK.XCHNG  -  1,213 words
    • RISK MANAGEMENT
      • Article, Illustration
        Lock icon UPS AND DOWNS OF INVESTING
        850 26  -  CLOSE ADHERENCE TO PORTFOLIO MANAGEMENT PRINCIPLES CAN HELP MANAGE DOWNSIDE RISK IN DISCRETIONARY PORTFOLIOS By Marc Van De Walle, Hou Wey Fook Marc Van de Wall (CFA) is Global Head of Products and Hou Wey Fook (CFA) is Chief Investment Officer, Bank of Singapore HERE
        PHOTO: STOCK.XCHNG  -  850 words
    • Article, Illustration
      Lock icon PEOPLE NOT SIZE MAKE A BANK “BOUTIQUE”
      715 27 WEALTH OF OPINION Knowledge and experience drive our choices. The Asian financial crisis of 1997-98, the Nasdaq crash, and the global financial crisis have changed the way we look at the world. In particular, the GFC dented the banking sector’s credibility, especially that
      715 words
    • ASIAN EQUITIES
      • Article, Illustration
        Lock icon THE GLASS IS HALF FULL
        1189 28 STRUCTURAL GROWTH OF ASIAN EQUITIES REMAINS INTACT DESPITE SHORT-TERM VOLATILITY By UOB Asset Management Asia Ex-Japan Equities Team HE performance of global emerging markets has been in the spotlight this year, with doubts cast over its sustainability. Emerging markets have lost ground against developed markets
        PHOTO: iSTOCKPHOTO; Source: Bloomberg, MSCI, UOB Asset Management, data as at Jul 31,2013  -  1,189 words
    • LEVERAGE
      • Article, Illustration
        Lock icon A DOUBLE- EDGED SWORD
        1148 30  -  SPARKS MAY FLY WHEN INVESTMENTS MEET LEVERAGE, BUT SPECULATION WITHOUT TIGHT RISK CONTROL MAY SEE INVESTORS GETTING BURNT By Leo Drago Leo Drago is co-founder of AL Wealth Partners, an independent, Singapore-based company providing fund management and advisory services to accredited investors Y first investment portfolio
        PHOTOS: STOCK.XCHNG  -  1,148 words
    • PROPERTY
      • Article, Illustration
        Lock icon PHUKET – A TROPICAL ISLAND BECKONS
        1059 32  - PHUKET A TROPICAL ISLAND BECKONS AFTER A SLOWDOWN FOLLOWING THE 2008 GLOBAL FINANCIAL CRISIS, THE PHUKET MARKET IS NOW ENJOYING A NEW WAVE OF ACTIVITY By David Simister David Simister is Chairman of CBRE Thailand T HE Phuket residential market is currently seeing a significant change of direction driven by
        PHOTOS: CBRE THAILAND  -  1,059 words
    • FAMILY BUSINESS
      • Article, Illustration
        Lock icon IN TRANSITION
        1017 34  -  THE NEXT GENERATION OF LEADERS IN FAMILY BUSINESSES WILL NOT ONLY EMBRACE INNOVATION, BUT ALSO POSSESS A MORE GLOBAL MINDSET By Money K Money K is Managing Director and Global Head of the Next Generation programme at Citi Private Bank O VER the next 20 years, it is
        PHOTO: iSTOCKPHOTO  -  1,017 words
    • PHILANTHROPY
      • Article, Illustration
        Lock icon FOCUSING ON THE RIGHT FIT
        1037 35  -  MEANINGFUL AND IMPACTFUL PHILANTHROPY IS AS MUCH AN ART AS IT IS A SCIENCE By Maya Prabhu Maya Prabhu is Managing Director, Coutts Institute RISTOTLE once proclaimed: “To give away money is an easy matter and in any man’s power. But to decide to whom
        PHOTO: STOCK.XCHNG  -  1,037 words
    • LEISURE
      • Article, Illustration
        Lock icon PURELY FOR PLEASURE
        1231 36  -  NEW ZEALAND’S QUEENSTOWN A YEAR-ROUND PLAYGROUND FOR THOSE WANTING TO INDULGE IN THEIR FAVOURITE LIFESTYLE ACTIVITY By Justine Moss HERE are very few places on earth where even a postcard or a photograph doesn’t quite justify its uniqueness or beauty. After a recent trip to Queenstown, I
        PHOTO: MILLBROOK RESORT; PHOTO: OVER THE TOP HELICOPTER COMPANY; PHOTO: JACK’S POINT  -  1,231 words
    • PASSION INVESTMENTS
      • Article, Illustration
        Lock icon Smart money or expensive hobby?
        1147 38  -  PASSION INVESTMENTS DRIVEN BY PERSONAL INTERESTS AND EMOTIONAL TIES ARE SEEING A SURGE IN POPULARITY By Tara Loader Wilkinson Tara Loader Wilkinson is Editor-in-Chief of Wealth-X. Wealth-X is the source of intelligence on the ultra wealthy, with the world’s largest collection of curated research on
        PHOTO: DAN WELLS; PHOTO: YOO GROUP  -  1,147 words
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      114 9 imagine a banK Imagine a bank where your interests really do come first. Imagine a bank without risky sovereign debt or toxic assets on its balance sheet. Imagine a bank whose owners have personal liability for its actions. Imagine a bank that’s been looking forward for seven generations. Imagine a
      114 words
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      33 11 S A \< A NOW OPEN The Shoppes at Marina Bay Sands® CANAL LEVEL. B2-08 B2-113 THE SHOPPES AT w MARINA BAYS^ias 2 Bayfront Avenue, Singapore *****6 MarinaBaySands.com/Shoppes +65 6688 6888 EVERY MOMENT REWARDED
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      430 13 p PRIVILEGE BANKING II I ss: ft J m s SSS6NSSS k vv« THERE’S MORE TO WEALTH THAN MONEY ALONE When it comes to Privilege Banking, we understand that the measure of true wealth goes beyond mere numbers. It’s a world where your dreams are celebrated, relationships treasured and legacies
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      305 15 Jenny Chew Financing Solutions South Asia Garth Bregman rgtionary Portfolio Management Asia Disc i V, *1 k LA Looking jor a wide range oj wealth management solutions? Look no further Andy Chai WeaLth Management Hong Kong Akshay JaitLy WeaLth Management Indian Markets <3 1 > Award-winning commitment to our clients.??
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      85 17 X w t Tomorrow needs care Our continuous commitment in Asia In addition to providing global investment solutions, our Asia platform has developed local expertise and renminbi capabilities. Our commitment has always been rooted in transparency and long-term vision. Relying on these common sense values, we help you to protect,
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      332 20 THE SCOTTS TOWER STUNNING VIEUS. DISTINCTIVE SPACE IN THE HEART OF ORCHARD ROAD. Live at the centre of it all. Located near Orchard Neuton MRT stations. This is the place to be. Design your space and express your personality. Choose from luxurious i to 3 high floor bedroom SOHO apartments.
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      63 23 My name: John My business: Manufacturing My dream: To continue my family tradition My private bank: Julius Baer, because they have been leading the way in wealth management for generations The leading Swiss private banking group. Since 1890. www.juliusbaer.asia Julius Baer is present in over 40 locations worldwide. From Hong
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