The Business Times, 26 November 2013

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Microfilm: NL32875
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Tuesday, November 26, 2013
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  • Article
    Lock icon URA acts to curb use of ‘SoHo’ by developers
    769 1  -  It says they should clarify approved use of a development By tanmindy@sph.com.sg MINDY TAN tanmindy@sph.com.sg [SINGAPORE] The Urban Redevelopment Authority (URA) is clamping down on the use of the term “small office home office” (SoHo) for commercial and residential units, as
    769 words
  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 GST INDEX 3,180.65 (+7.80) GST INDEX FUTURES 3,181.00 (+8.00) GSIMSCI 367.80 (+1.07) GSIMSCI FUTURES 368.40 (+1.70) US$ S$ US$ (S$ per US$) 1.253 (US$/S$ per 1.620 2.030 EURO (US$/S$/€ 1.354 1.696 Foreign currency per US$ S$ YEN 101.80 81.20 RM 3.222 2.571 HK$ 7.753 6.188 BAHT 31.99 25.53 RUPIAH
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    • Article
      Lock icon MARKETS
      48 1 Monday Change KL COMP 1,797.97 +3.45 NIKKEI 225 15,619.13 +237.41 HANG SENG 23,684.45 -11.83 SET INDEX 1,352.86 -6.21 JAKARTA COMP 4,334.81 +16.85 MANILA COMP 6,004.26 -80.58 SEOUL COMP 2,015.98 +9.75 SHENZHEN B 866.12 +3.88 MUMBAI IND 20,605.08 +387.69 11.00am EST Change DOW 16,093.57 +28.80 NASDAQ 3,992.20 +0.55
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    • Article
      Lock icon PRIME RATES
      22 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG TAIWAN INDONESIA JAPAN TAIWAN 5.036 JAPAN 1.475 CANADA 9.33 SWITZERLAND 0.50 US Source: Bloomberg
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  • Article, Illustration
    Lock icon Rise in inflation seen continuing into 2014
    873 1  -  October CPI up at 2%; higher wages likely to be passed on to consumers next year By KELLY TAY kellytay@sph.com.sg [SINGAPORE] Singapore's inflation is on a zig-zag path, creeping back to 2 per cent in October due to higher food and car prices,
    Source: MAS/MTI; Source: Department of Statistics  -  873 words
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      93 1 COMPANIES Cosco bags deals of over US$400m PAGE 5 COMMENTARY HK gets firmer on boardroom diversity PAGE 21 SME Inc Moving out to move forward PAGE 10 PROPERTY KL group gets £790m loan for London project PAGE 27 8 II *****1 II *****4 Classique Tourbillon 1 47 KVS V A
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  • TOP STORIES
    • Article
      Lock icon THREE-MINUTE DIGEST
      495 2 Inflation set to rise further into 2014 SINGAPORE’S inflation is on a zig-zag path, creeping back up to 2 per cent in October due to higher food and car prices, even though housing rebates kept the price increase contained. FRONT PAGE URA curbs use of ‘SoHo’ by developers
      495 words
    • Article, Illustration
      Lock icon New, direct route for China firms seeking S’pore listing
      633 2  -  They will need approval of both SGX and CSRC; won’t have to set up holding company in a tax haven By CAI HAOXIANG By haoxiang@sph.com.sg AMID an initial public offering (IPO) freeze in China, the stockmarket regulators of China and Singapore
      PHOTO: REUTERS  -  633 words
    • Article, Illustration
      Lock icon Yen hits six-month low on BOJ chief’s hint of further stimulus
      552 4  -  BOJ ready to adjust monetary policy up or down to achieve inflation target By ANTHONY ROWLEY in Tokyo THE yen plunged to a six-month low against the US dollar in Tokyo yesterday after Bank of Japan governor Haruhiko Kuroda
      PHOTO: REUTERS  -  552 words
    • Article, Illustration
      Lock icon Saving the earth with degradable shopping bags
      729 4  -  By GRACE LEONG gleong@sph.com.sg [SINGAPORE] In just two years, Indonesian social entrepreneur Sugianto Tandio became the largest maker of degradable plastic bags using proprietary technology he developed, supplying to major retailers including Carrefour and Giant hypermart in his native country, as well as
      729 words
    • Article, Illustration
      Lock icon Lack of political will ails climate change effort
      565 4  -  By GRACE LEONG gleong@sph.com.sg [SINGAPORE] Environment and Water Resources Minister Vivian Balakrishnan, who has just returned from the United Nations climate change conference in Warsaw, said yesterday that he was pessimistic about prospects for a global agreement that would comprehensively tackle the
      565 words
    • Article
      Lock icon Taxing times for S’pore as corporate strategy faces scrutiny
      1278 4 Reuters [SINGAPORE] At first sight, tiny Singapore does not look like one of Apple Inc’s priority markets: It has no official Apple Store and doesn’t even rate a mention in the company’s latest annual report. Apple South Asia Pte Ltd, its
      Reuters  -  1,278 words
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      224 2 Luxurious moment with a touch of THAI FIRST CLASS FARES from *2,278 *4,098 Hong Kong Tokyo *6,138 Frankfurt London Milan Munich Paris Rome BUSINESS CLASS FARES from *798 Bangkok *1,578 *1 ,238 Hong Kong y 1 /a A STAR ALLIANCE MEM 3ER Beijing Chennai Delhi Dubai Shanghai *3,658 Brussels Copenhagen
      224 words
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      231 3 PATEK PHILIPPE GENEVE Begin your own tradition. 2T 53 *Tj c OQ tr T3 o53 O >V 3 o P i gn ft 4 “Ofcourse, the acoustics of all minute repeaters have to be tested. In ourfamily-owned watch company, the President does it!’ Every Patek Philippe wristwatch with a minute
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon AIMS AMP buys stake in Sydney building
      575 5  -  A$184.4m Optus Centre deal is Reit’s first investment in Australia By LEE MEIXIAN leemx@sph.com.sg AIMS AMP Capital Industrial Reit has signed a conditional agreement with a Stockland managed fund, Stockland Direct Office Trust No 2, to acquire a 49 per cent indirect stake
      575 words
    • Article, Illustration
      Lock icon Pacific Andes profit up 23.5% at HK$775.2m
      549 5  -  China Fishery, which is 70% owned by Pacific Andes, posts 7.3% profit rise By VIVIEN SHIAO vshiao@sph.com.sg FROZEN fish supplier Pacific Andes Resources Development posted a net profit of HK$775.19 million (S$125.2 million) for the full year ended Sept 28, 2013, up 23.5
      FILE PHOTO  -  549 words
    • Article
      Lock icon Cosco bags deals of over US$400m
      554 5  -  Group will build 2 semi-submersible accommodation vessels for new customer Prosafe By LISA LEE lisalcc@sph.com.sg SINGAPORE-LISTED, Chi-na-based shipbuilder Cosco Corporation has secured more than US$400 million in contracts to build two semi-submersi-ble accommodation vessels for a new customer, the Oslo-listed Prosafe SE. Market reaction
      554 words
    • Article
      Lock icon CPFIS funds up 3.82% in Q3 on market rebound
      384 7  -  In the same period, the MSCI World index rises 8.29% in US dollars By GENEVIEVE CUA gen@sph.com.sg UNIT trusts and invest-ment-linked insurance funds (ILPs) in the CPF Investment Scheme delivered positive returns on average in the third quarter, thanks to a
      384 words
    • Article
      Lock icon SIA gets go-ahead for launching India airline with Tata
      297 7  -  By NISHA RAMCHANDANI nishar@sph.com.sg SINGAPORE Airlines (SIA) has received the official go-ahead from India’s Foreign Investment Promotion Board (FIPB) to set up a joint-venture airline in the country together with Tata Sons. In a release to the Singapore Exchange yesterday, SIA
      297 words
    • Article, Illustration
      Lock icon Yongnam clinches record $168m subcontract
      263 7  - Yongnam clinches record $1 68m subcontract Its order book swells to $397m By CARINE LEE carinel@sph.com.sg YONGNAM Holdings yesterday said that it has secured a $168 million subcontract through its wholly owned subsidiary Yongnam Engi- neering Construction. The contract is a record for the group by value, and takes Yongnam’s
      FILE PHOTO  -  263 words
    • Article
      Lock icon Mermaid Maritime soars to six-month peak before results
      283 7 Reuters [SINGAPORE] Thailand-based Mermaid Maritime Plc, a provider of subsea and drilling services, was on course for its biggest daily gain in over a month yesterday, ahead of its annual results release, while Singapore’s stock index inched higher. Shares of Mermaid Maritime
      Reuters  -  283 words
    • Article
      Lock icon Bad loans make good business for China Cinda
      995 8 Distressed debt firm posts 4.06b yuan H1 profit, seeks up to US$2.5b in IPO Reu ters [HONG KONG] China Cinda Asset Management Co Ltd lifted the lid on how Beijing turns bad loans from its banks into profits, issuing a prospectus yesterday
      Reuters  -  995 words
    • COMPANY BRIEFS
      • Article
        Lock icon Freight Links takes on new name
        88 8 MAINBOARD-LISTED Freight Links Express Holdings has been renamed Vibrant Group Ltd. The change, approved by its shareholders yesterday, reflects its evolution from being an integrated logistics solutions provider to becoming a business that also does fund management, financial leasing services, asset and trust management
        88 words
      • Article
        Lock icon Lime Petroleum begins drilling its first well in Oman
        104 8 CATALIST board-listed oil exploration and production company Rex International Holding Ltd said that a jointly controlled entity, Lime Petroleum plc, through its subsidiary has begun drilling its first well in Oman. Through Masirah Oil Ltd, Lime Petroleum has begun work on
        104 words
      • Article
        Lock icon City e-Solutions may be subject to buyout
        135 8 TRADING in City Development Ltd’s (CDL) Hong Kong-listed City e-Solutions was halted yesterday after its board announced the possibility that it may be subject to a buyout by independent third parties. The board of City e-Solutions requested for a trading halt after it
        135 words
    • Article, Illustration
      Lock icon Gold drops to 4-month low after Iran accord
      453 8 Silver slides as much as 1.4%, the lowest since Aug 8 Bloomberg [LONDON] Gold fell to its lowest level in more than four months yesterday as the accord between Iran and world powers damped demand for a haven. Silver sank to its
      Bloomberg; PHOTO: BLOOMBERG  -  453 words
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      221 5 ©SINGAPORE WORKFORCE SKILLS QUALIFICATIONS Service From The Heart Sentosa engages and invests in its people for the best guest experiences. Through Service Excellence WSQ training, it ensures that its people across all levels are always ready to deliver WOW! experiences to its guests. That’s not all. Sentosa also knows that
      221 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon STI up, but market in holiday mood
      526 6  -  Trading activity remains sluggish at just $698.8m and losers outnumber gainers STOCKS KENNETH LIM kenlim@sph.com.sg Correspondent A MODEST headline increase in the index belied losses for most stocks in Singapore yesterday as compa-ny-specific news drove the day’s activity. The bluechip-dominated Straits Times Index
      Source: Bloomberg  -  526 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      72 6 Nov 25 VALUE CLOSE BT OB/OS -522.00 -12.00 BT CADI -*****.00 -43.00 BT 10-day MA -*****.00 -52.00 FTSE ST Mid Cap 724.10 -0.74 FTSE ST Small Cap 531.01 -1.92 FTSE ST All Share 770.05 +1.10 FTSE ST China Top 200.58 -0.59 FTSE ST China 227.88 FTSE ST
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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 3 5 0 0 0 6 3 5 Manufacturing 39 40 54 6 4 8 45 44 62 Commerce 19 21 23 5 5 2 24 26 25 Tpt/Stor/Comms 12 20 9
      186 words
    • Article, Illustration
      Lock icon BROKERS’ TAKE
      1027 6  -  Compiled by TEH SHI NING Telcos Sector Nov 25 close for StarHub: $4.31 M1: $3.24 SingTel: $3.69 Maybank Kim Eng Research, Nov 25. INFOCOMM Development Authority (IDA)’s conditional approval of the proposed sale of OpenNet to NetLink Trust, in our view, does not have much of an impact
      Source: Bloomberg  -  1,027 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 7,876 7,876 45,744 45,744 Manufacturing 200,121 137,404 337,525 95,475 5,549 101,024 Commerce 140,413 106,922 247,335 66,624 6,440 73,064 Tpt/Stor/Comms 69,847 7,374 77,221 108,447 950 109,397 Finance 44,469 54 44,523 86,266 18 86,284 Construction 36,002 23,005
      121 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      113 6 Stock name Close Change CapMallsAsia 2.020 -0.010 CapitaLand 3.020 -0.010 CapitaMall 1.950 CityDev 10.020 +0.010 ComfortDelGro 1.965 +0.025 DBS Grp 17.050 -0.040 GLP 2.950 -0.030 Genting SP 1.460 +0.025 Golden Agri 0.575 -0.010 HK Land 6.020 -0.010 HPH Trust US$ 0.690 +0.010 JMH 52.060 JSH 32.200
      113 words
    • Article, Illustration
      Lock icon Yen hits 4-year low against euro
      579 6 CURRENCIES Reuters [LONDON] The yen hit a six-month low against the dollar and a four-year trough versus the euro yesterday as a deal on Iran’s nuclear programme sent shares higher, prompting investors to sell the low-yielding currency. The Japanese currency, which typically falls when
      Reuters; PHOTO: BLOOMBERG  -  579 words
    • Article
      Lock icon MOST ACTIVE STOCKS
      56 6 VOLUME KLW Hldgs 101,833,000 Transcu Grp 57,119,000 MDR 57,075,000 Albedo 44,335,000 Aussino 44,234,000 Innopac 34,619,000 Vallianz Hldgs 32,777,000 NexGenSCom 28,798,000 SingHaiyi 26,838,000 Noble Grp 25,877,000 VALUE($) SingTel 43,901,350 DBS Grp 36,718,690 GLP 35,011,850 Keppel Corp 28,429,900 Noble Grp 28,050,020 UOB 22,833,920 HPH Trust US$ 21,190,200 CapitaLand 19,981,000
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    • Article
      Lock icon RISES
      110 6 BY CENTS CLOSE UP DBXT MSEurope 10US$ 5814 130.2 1.8 DBXT MSKorea 10US$ 6324 93.9 1.2 Jardine C&C 3499 49.0 1.4 SIA 1053 30.0 2.9 SIA 200 1050 30.0 2.9 DBXT E50 10US$ 5059 23.8 0.4 IS MS India 100US$ 575 18.8 2.7 UOB 2111 17.0 0.8 DBXT MSINDIA
      110 words
    • Article
      Lock icon FALLS
      129 6 BY CENTS CLOSE DOWN GLD 10US$ ***** -146.5 -1.0 DBXT AUD Bonds 5AU$ ***** -57.2 -0.3 DBXT MSTHAI 10US$ 1904 -37.6 -1.6 DBXT MSAsExJp 10US$ 3406 -36.3 -0.8 DBXT S&P Short 10US$ 2661 -26.3 -0.8 Great Eastern 1780 -21.0 -1.2 DBS Bk 4.7% NCPS 100 ***** -15.0 -0.1 DairyFarm
      129 words
    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 6 DAILY
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      59 7 Looking to showcase and sell your Food Products, Cooking Solutions, Kitchen Appliances Accessories? NOW! *****620 or Email: sales@exhibitsinc.com.sg Organised By: Our Food Shows: (Organiser of IT Show, Food Beverage Fair, COMEX, World Food Fair, Consumer Electronics Exhibition and Food Kitchen Show) BLOCK 8, LORONG BAKAR BATU #07-07, S (*****3) TEL:
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      11 7 CATS Recruit The first step on your ladder to success CLA/AUG06/g
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      2 8 1 2
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      38 8 ASIA'S LEADING LUXURY YACHTING MAGAZINE m K: I .'.W mi r A SUBSIDIARY OF SPH MAGAZINES PTE LTD Blu Inc Media (HK) Ltd. Tel: 852 2165 2800 Fax: 852 2868 1799 www.bluincmedia.com Enquiry: queries@bluincmedia.com Subscribe at sub@bluincmedia.com www.asia-pacificboating.com
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Rental market turning to favour tenants: Savills
      461 9  -  Home completions, labour curbs cited; but demand may be strong for 6 months By ONG CHOR HAO ongch@sph.com.sg THE residential leasing market is gradually turning to favour tenants, even as there is likely to be strong demand over the next half a year,
      Source: URA, Savills Research & Consultancy  -  461 words
    • Article
      Lock icon Public to be consulted on liquor sale curbs
      438 9  -  Rowdy gatherings and safety issues causing concern By VIVIEN SHIAO vshiao@sph.com.sg THAT neighbourhood retail shop from which you buy your six-pack of beer or bottle of vodka for drinking elsewhere may have its liquor-sale hours cut back amid rising concern over rowdy
      438 words
    • Article, Illustration
      Lock icon Savouring the sweet taste of success
      1026 9  -  Twenty years and eight E50 awards later, Singapore’s homegrown commodities trading firm Wee Tiong expects sweeter times as its Indonesia sugar refinery nears completion By CHIN JIA QI, FONG XIN YI, ONG MING YI The writers are students of NUS Business School IF one
      PHOTO: ARTHUR LEE  -  1,026 words
    • Article
      Lock icon Keppel, NUS launch $75m corporate research facility
      457 9  -  By MALMINDERJIT SINGH msingh@sph.com.sg KEPPEL Corporation and the National University of Singapore (NUS) yesterday launched the Keppel-NUS Corporate Laboratory, marking the first corporate research facility here involving a local company. In collaboration with the National Research Foundation (NRF), under its Corp Lab University
      457 words
    • SINGAPORE ROUNDUP
      • Article
        Lock icon CDSA’s accountability study of social services
        153 9 THE Centre for Social Development Asia (CDSA) will embark on a three-year applied research study on accountability and corporate governance in the social service sector starting next July. Chartered Institute of Management Accountants (CIMA) has pledged $180,000 over three years to the study. A
        153 words
      • Article
        Lock icon Construction starts on Tognum Asia-Pac HQ
        119 9 ENGINES and propulsion systems firm Tognum yesterday broke ground for the construction of its new enlarged Asia-Pacific headquarters in Singapore. The new premises will consolidate the areas of application engineering, sales and service support, distribution management, marketing and communications under one roof. The move
        119 words
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  • SME Inc
    • Article, Illustration
      Lock icon Moving out to move forward
      1008 10  -  Picotin gives up long-time base in Bukit Timah to strike out in East Coast and Sentosa Cove, reports JASLENE PANG reportsJASLENE reportsJASLENE PANG MOVING a business out of its stronghold may seem a surprising decision but for Steve Kaye, it was a rational one that
      PHOTO: EMMANUEL STROOBANT GROUP, PICOTIN  -  1,008 words
    • Article, Illustration
      Lock icon India retail sector: An opening for Singapore
      995 10  -  While other foreign retailers face strong opposition, local players’ entry is unlikely to be seen as a strategic threat THE VIEW FROM NTU PROFESSORS By SUMAN BANERJEE The writer is an assistant professor of finance at Nanyang Business School FROM Prada to Walmart,
      PHOTO: BLOOMBERG  -  995 words
    • Article, Illustration
      Lock icon Meeting nature’s call the green way
      1096 11  -  Rigel Technology helps meet demands for water-conservation and energy-efficiency through its innovative restroom products By LIM RUI WEN, LIM YEJIE GOH BOON LENG The writers are students of NUS Business School IN a world where 2.9 billion people in 48 countries are expected to
      PHOTO: ARTHUR LEE  -  1,096 words
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      69 10 HAVE an interesting story on a small or medium-sized enterprise (SME) to share? Drop us a note on why you think the company should be featured in our weekly SME Inc pages, with details such as how the company has grown and its expansion plans. Send your e-mail to Felda
      69 words
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      250 11 FUTURE i I t I I I I I I I ffi CHINA ADVANCED LEADERS PROGRAMME Grooming future leaders to be “China-ready” “China-savvy” and “Connected” o. Jube Zhong Deputy General Manager (Strategy Planning Leasing) Yanlord Land (Chengdu) Co., Ltd Voo Choon Ling Group Financial Controller Woodlands Transport Service PteLtd Benjamin
      250 words
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      111 11 The office you need, where you need it ;»i m Sa J S 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 need an office
      111 words
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  • MALAYSIA
    • Article, Illustration
      Lock icon Selangor water spat stymies over 800 projects
      596 12  -  Concessionaires, meanwhile, have till Dec 4 to decide on RM9.65b state offer By PAULINE NG in Kuala Lumpur EVEN as Selangor’s four water concessionaires mull a RM9.65 billion (S$3.75 billion) offer by the state for their assets, a crisis could be looming with
      PHOTO: BLOOMBERG  -  596 words
    • Article
      Lock icon 9 IPOs planned for 2014 set to raise RM18.4b
      597 12 They include Medini and Iskandar Waterfront Hldgs [PETALING JAYA] At least nine major listings are in the works next year, which should raise more than RM18.4 billion (S$7.2 billion) from the market. Most of the issuers have already appointed their advising
      597 words
    • Article
      Lock icon YTL bid for power project under probe
      397 12 Doubts arise over compliance issues, says report [KUALA LUMPUR] YTL Power International Bhd’s bid to win a 2,000-mega-watt (MW) power plant project under “Track 3B” looks to be in doubt due to compliance issues. The Energy Commission has called in one of YTL
      397 words
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  • INDONESIA
    • Article, Illustration
      Lock icon Luxury marques find a brand new South-east Asia home
      974 13 Huge market excites as economy booms, high-end labels rack double-digit growth NYT [NEW YORK] For the past year, Shannon Hartono’s world has revolved around 9pm conference calls with New York and Los Angeles, e-mail in the middle of the night and
      NYT; PHOTO: REUTERS  -  974 words
    • Article, Illustration
      Lock icon Jakarta’s anti-graft team standing tall
      1233 13 The KPK has won guilty verdicts in all 236 cases it fought Reuters [JAKARTA] Indonesia’s Inspector General of Police had just withstood eight hours of interrogation on the night of Oct 5, last year, at the Jakarta headquarters of Indonesia’s anti-cor-ruption agency when a commotion
      Reuters  -  1,233 words
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      1534 13 p Wft: (5^ y www.omy.sg BiWMJtBJfl! HSftE 0Ht .III a App Store USDS.99 Google Play S$7.99 TRANSCU GROUP LIMITED (Incorporated in the Republic of Singapore) (Company Registration No.: *****0320E) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of TRANSCU GROUP LIMITED (the “Company”) will
      1,534 words
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  • GREATER CHINA/INDIA
    • Article
      Lock icon Beijing tie-up with high-tech firms will give big data a lift
      583 14  -  By SC YEUNG [HONG KONG] Through the years, many China-focused economists and analysts have raised doubts about the accuracy of the country’s economic indicators. They have learned to take with a grain of salt such key statistics as gross
      583 words
    • Article
      Lock icon Carriers to tell China about flights over disputed zone
      810 14 China declares new requirement, drawing criticism from Japan and US Reuters [BEIJING] Asian aviation officials have said that airlines would have to inform China of their flight plans before entering airspace over waters disputed with Japan, forcing carriers to acknowledge China’s
      Reuters  -  810 words
    • Article, Illustration
      Lock icon Beijing to launch two new carbon trading platforms
      593 14 Re uters [BEIJING] China will launch two new pilot carbon trading schemes this week in Beijing and Shanghai as it strives to cut soaring rates of greenhouse gas, reduce choking smog and determine the best system for a nationwide rollout. China, the
      Reuters; PHOTO: REUTERS  -  593 words
    • Article
      Lock icon Sensex hits record but funds fare badly
      576 14 Reuters [MUMBAI] In a year when Indian shares have hit record highs, the country’s embattled fund managers are headed for a milestone of their own: their worst performance since the global financial crisis in 2008. The poor showing comes at a bad time
      Reuters  -  576 words
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      23 14 SINGAPORE’S HFT MUSIC STATION XN m ■STOP HU MUSIC WITH JJ WEEKDAYS 10AM-4 PM HOT fM 9\- 3 O facebook.com/hotfmsg $0 (ghotfmsg www.hotfm.sg
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      42 14 HOT PROPERTY new^shop. Sl pLAP r UE BIZHUB EAST f Hotel Tower Vl^ S #01 Asking Reta SHOP SPACE FOR RENT 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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      183 15 Read On. Move On. Get news on the move with The Straits Times All-in-One PLUS EXCLUSIVELY FOR NEW SUBSCRIBERS Your Straits Times All-in-One PLUS includes the Microsoft Surface RT In addition to reading your Print edition, you can access The Straits Times on your favourite iPad, iPhone and Android mobile
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  • WORLD
    • Article, Illustration
      Lock icon Tokyo launches fund to highlight cool Japan stuff
      656 16 US$1 b kitty will boost food, fashion, animated films and other soft exports Reuters [TOKYO] Japan’s industry bureaucrats once guided the nation’s world-beating drive to export cars and electronics. Now that Toyota and Sony have been household names worldwide for decades, the
      Reuters; FILE PHOTO  -  656 words
    • Article
      Lock icon Apple buys motion tracking firm for US$350m
      309 16 Bloomberg [NEW YORK] Apple Inc agreed to acquire PrimeSense Ltd, the maker of motion tracking chip technology that was used in Microsoft Corp’s Kinect game console. Kristin Huguet, a spokeswoman for Apple, confirmed the purchase on Sunday. Apple, maker of the iPhone and
      Bloomberg  -  309 words
    • Article
      Lock icon RBS accused of driving customers into trouble
      426 16 Report says it then buys their assets at reduced prices Bloomberg [LONDON] Royal Bank of Scotland Group had deliberately pushed UK companies that owed it money into difficulties so that it could increase its own profits, according to a report commissioned by the
      Bloomberg  -  426 words
    • Article
      Lock icon Many Europe refineries face closure
      294 16 Reuters [OSLO] An increasing number of European oil refineries face early closure as developing nations build their own capacity and rising volumes of fuel do not need refining, the International Energy Agency’s chief economist said. A large number of Europe’s refineries already are idled or
      Reuters  -  294 words
    • Article, Illustration
      Lock icon Alternatives give Bitcoin a run for its money
      994 16 NYT [NEW YORK] For many people, Bitcoin seems like something from the day after tomorrow. For Lawrence Blankenship, it’s already a thing of the past. A software engineer from Springfield, Missouri, Mr Blankenship is putting his money on PeerCoin, one of the
      NYT; PHOTO: NYT  -  994 words
    • Article
      Lock icon Tech bubble question leaves market hanging
      626 17 Wall St says it feels like 1999 all over again; advises investors to exercise care NYT [SAN FRANCISCO] It sounds like heresy around here. But here goes: Is this another tech bubble? The Wall Street money is starting to worry that it feels like
      NYT  -  626 words
    • Article, Illustration
      Lock icon Thai protesters invade and occupy govt offices
      612 17 AP BANGKOK] In a marked escalation of political tensions, anti-government demonstrators in Thailand occupied parts of two government ministries yesterday, turning up the pressure in their offensive against the government of Prime Minister Yingluck Shinawatra. The tensions condemned the Thai baht to an
      AP; PHOTO: AP  -  612 words
    • Article
      Lock icon UK crowdfunding site taps investors across Europe
      360 17 Reuters [LONDON] A British website which allows members of the public to buy stakes in small unlisted businesses is expanding across Europe, saying it was responding to demand to open the site beyond Britain. As banks rein in lending due to tougher capital
      Reuters  -  360 words
    • Article
      Lock icon Iran pact a boon for carmakers, tanker operators
      448 17 Easing of sanctions to also benefit gold traders, insurers Bloomberg [WASHINGTON] French automakers PSA Peugeot Citroën and Renault SA and companies that transport Iranian oil are poised to benefit from the six-month accord to rein in Iran’s nuclear programme while easing trade
      Bloomberg  -  448 words
    • Article
      Lock icon Venture capital returns to arms of Cambridge
      705 18 The reason: increased interest in heavy-duty technology such as analytics Bloomberg [LONDON] British venture capital investors in recent years have traded the leafy courtyards of Cambridge for the hipster coffee bars and converted warehouses of Shoreditch, a once-grit-ty East London neighbourhood brimming with
      Bloomberg  -  705 words
    • Article, Illustration
      Lock icon Portugal to go solo on the road to bailout
      752 18 No more path to follow as Ireland leaves programme Bloomberg [LISBON] Portugal, which was trying to follow Ireland’s path towards the bailout exit, will have to figure out on its own what to do when it gets there. Ireland’s decision this
      Bloomberg; PHOTO: AP  -  752 words
    • Article, Illustration
      Lock icon Greek recovery fragile, measures needed: IMF
      356 18 AFP [ATHENS] The economic recovery touted by Greece’s embattled government is “fragile”, the nation’s IMF auditor said on Sunday as he called for new, targeted cuts in the next two years. “The recovery (in Greece) is fragile and will be hurt if the government
      AFP; PHOTO: REUTERS  -  356 words
    • Article
      Lock icon ECB official rules out deflation in Europe
      339 18 Economy is seen as stabilising; inflation, at about 2% Reu ters [TOKYO] A senior European Central Bank (ECB) official said slowing price growth, or disinflation, in Europe is likely to continue for now, but will not progress to deflation because the economy is
      Reuters  -  339 words
    • Article
      Lock icon EU financial transaction tax will hit GDP: study
      230 18 Bloomb erg LONDON E uro p e s planned tax on financial transactions may fail to reduce market risks and could increase household costs, according to a PricewaterhouseCoopers study commissioned by the financial industry. A financial transaction tax, or FTT, may reduce
      Bloomberg  -  230 words
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      103 17 r T I-"// 'j'j v' X r a HA A CHRIST TREAT! FROM 4th 30th DECEMBER 2013 SPEND $3 INCLUDING ANY NEWSPAPERS FROM AND INSTANTLY RECEIVE A COUPON TO WIN ATTRACTIVE PRIZES! Terms Conditions apply. While Stocks last. Including weekends editions. Visuals are for illustrative purposes only. $3 purchase must
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  • AVIATION
    • Article
      Lock icon US firm offers private jet for VIPs on a budget
      669 19 World’s first re-manufactured business jet for sale at some US$5m Reuters [DUBAI] The recent Dubai Airshow produced a harvest of deals for the world’s biggest and flashiest jets, but for those unable to afford a US$400 million A380 superjumbo there
      Reuters  -  669 words
    • Article, Illustration
      Lock icon Drones open up new vistas for journalists
      873 19 NYT [NEW YORK] The best way to film the destruction wrought by Typhoon Haiyan in Tacloban, the Philippines was from the air, said British photographer Lewis Whyld. But Mr Whyld did not want to beg for a ride on a military helicopter, taking
      NYT; PHOTO: AFP  -  873 words
    • Article
      Lock icon Crash families channel grief to outlobby airlines on rules
      1035 19 WP [WASHINGTON] One was a basketball coach. Another sold food packaging. Two were sisters-in-law of an insurance executive who died in the World Trade Center on Sept 11, 2001. With no Washington experience or deep-pocketed backers, these family members of victims
      WP  -  1,035 words
    • Article
      Lock icon TRANSPORT STOCKS
      243 19 SGX '000 Nov 25 S$ +/-Vol Ch Offshore 0.43 0.01 342 Chuan Hup Hldg 0.26 -0.01 67 Cosco Corp 0.72 0.01 1199 Cwt Limited...............1.24 -0.02 159 First Ship Lea unch unch 0 Freight Links 0.11 unch 2216 Grand Banks..............0.22 unch 188 Jaya Hold Ltd 342 K1Ventures................0.20 unch 437
      243 words
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  • Page 19 Miscellaneous
    • Miscellaneous
      Lock icon Page 19 Miscellaneous Column 1
      349 19 CRYPTIC CROSSWORD Across 1 Late show of hesitation during calls for doubles (4,7) 9 Various animals emerge in a novel? (9) 10 The girl with a red top or fleece (5) 11 Permissiveness of times shown in non-church people (6) 12 Peak Practice’s opening leads to popular, clean broadcast (8)
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  • EDITORIAL & OPINION
    • Article
      Lock icon Time for China to abolish one-child policy
      542 20 EDITORIAL LIKE Singapore, the prefecture of Zhoushan along China’s east coast was famous for being an island port city. In the early 1800s, it was a thriving port of call while Hong Kong was just a fishing village. Today, as Singapore is bracing
      542 words
    • Article, Illustration
      Lock icon Can Obama recover from Obamacare debacle?
      799 20  -  THE BOTTOM LINE LEON HADAR Washington Correspondent IT has become the dominant line of the day among the chattering classes in Washington: The appalling rollout of President Barack Obama’s healthcare law (“Obamacare”) has raised questions about the competence of his administration in the same
      799 words
    • Article, Illustration
      Lock icon Who’s afraid of the big bad taper wolf?
      951 20  -  Well, it depends on which emerging economy one is in should there be an emergency By ANDRÉS VELASCO Andrés Velasco, a former finance minister of Chile, is a visiting professor at Columbia University Project Syndicate LAST spring, US Federal Reserve Board chairman
      Project Syndicate; PHOTO: BLOOMBERG  -  951 words
    • Article, Illustration
      Lock icon HK gets firmer on boardroom diversity
      1101 21  -  A new provision in corporate governance code looks promising ANGELA TAN Associate News Editor angelat@sph.com.sg LIKE Singapore, corporate Hong Kong needs to do more to address the gender imbalance in boardrooms. But unlike the city-state, the latter territory has gone a step further by
      1,101 words
    • Article, Illustration
      Lock icon Clean-up of India mining sorely needed
      1228 21  -  YOGI AGGARWAL [BOMBAY] INING is a problematic activity around the world. The costs and the benefits are contestable. It can be seen as a significant contributor to the economy, creating jobs, providing revenue to government by way of royalty and taxes and rewarding mine
      PHOTO: BLOOMBERG  -  1,228 words
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  • Article
    Lock icon SHIPPING TIMES
    1333 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
    1,333 words
  • Page 22 Advertisements
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      Lock icon Page 22 Advertisements Column 1
      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
      50 words
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      2735 23 Transaction date: Nov 25 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 Da Last Q 188 106 AIMSAMPIReit...............................150 -2.5 595 153.5 150 150 152.5 7.1 14 789.9 Div Gr Yld
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    • Article
      Lock icon SGX CATALIST
      255 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 37 17.3 t 3Cnergy 500 Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale ('000) High Low Buyer Seller
      255 words
    • Article
      Lock icon UNIT TRUST & FUNDS
      11528 24 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha FuncTCl A!** Aberdeen Asset Mgt Asia Limited APS Alpha Fund (USD)!** Asian Local Ccy SD Bond Aberdeen Asset Mgt Asia Limited Asian Local Ccy SD Bond Global Emerging Markets!** 0.9808/ 1 9169/ China Opportunities!" EM Local Ccy Bond
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    • Article
      Lock icon GLOBALQUOTE
      249 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 $mil Company 52 31 Genting HK US$ US41 +0.5 6692 41 40.5 40.5 41 2699.7 Sale 318 191 TanChongInt HK298 +2 24 298 298 297 303 4.3 2.3
      249 words
    • Article
      Lock icon SGX ETF
      900 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 $mil 125 107.1 ABF SG Bond ETF Last 143 127.7 CIMB APAC Div 100S$D 127.9 129.2 130.1 114.4 99.2 CIMB APAC Div 100US$ US103.6 103.1 103.7 10.9
      900 words
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      715 25 Nov 25 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.78 *****.13 *****.87 Dec13 *****.00 *****.00 *****.00 *****.00 *****8 *****0 Mar14 *****.00 *****.00 *****.00 *****.00 131 6006 MSCI TAIWAN INDEX FUTURES SPOT 287.26 289.53 287.26 Nov13 284.60 290.00 284.60 288.20 ***** *****1 Dec13 284.40
      715 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 25 In local curr In S$ In US$ dy yr dy yr dy yr Nov 22 Index Change Change Change Change Change Change World Preliminary 1157.5 0.2 23.4 0.4 24.0 0.3 21.1 EAFE Preliminary 939.0 0.2 21.2 0.5 19.6 0.4 16.8 Europe Preliminary 1336.7 0.1 16.5
      373 words
    • Article
      Lock icon INTERBANK CROSS RATES
      471 25 Nov 25 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.966 5.565 0.675 7.082 57.228 107.285 0.930 9.699 2.943 1.114 98.420 40.068 1.144 9.224 0.830 27.084 29.217 0.564 0.913 Canada 1.036 5.763
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    • Article
      Lock icon SIBOR
      40 25 Nov 25 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) (S$) 3 mths ..0.***** 3 mths Source: Thomson Reuters
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    • Article
      Lock icon GOVERNMENT SECURITIES
      78 25 Nov 25 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 6-Month BS*****E 30-May-14 0.28 1-Year BY*****T 31-Oct-14 0.28 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0W 1.13 01-Apr-16 101.82 5-Year N*****0T 0.5 01-Apr-18 99.59 10-Year NX*****H 2.750 01-Jul-23
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    • Article
      Lock icon PRECIOUS METALS
      135 25 Nov 25 GOLD(US$/oz) Nov 22 Nov 25 Hong Kong 1254.00 1240.00 Nov 21 Nov 22 London 1241.56 1245.01 1242.33 1245.78 Source: Thomson Reuters CAST BAR Nov 25 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 112 50 5gm 319 250 10gm 570 499
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    • Article
      Lock icon PALM OIL
      57 25 Nov 25 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 13 2647.0 2622.0 2650.0 2620.0 249 4412 Jan 14 2657.0 2630.0 2663.0 2619.0 5947 ***** Feb 14 2658.0 2630.0 2664.0 2619.0 ***** ***** Mar 14 2657.0 2630.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 25 Nov 25 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1437 1.1450 0.9133 0.9136 Canadian dollar 1.1843 1.1859 0.9463 0.9457 Euro 1.6951 1.6966 1.3536 1.3537 NZ dollar 1.0269 1.0285 0.8200 0.8206 Sterling pound 2.0290 2.0311 1.6202 1.6206
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    • Article
      Lock icon CHICAGO BOT
      109 25 Nov 22 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 14 1319.50 1291.50 1322.00 1290.50 Mar 14 1306.00 1279.75 1307.25 1278.25 May 14 1290.50 1266.00 1291.00 1265.00 Jul 14 1284.00 1260.75 1284.25 1259.50 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Dec 13
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    • Article
      Lock icon LIFFE
      95 25 Nov 22 COCOA (£/tonne) Close Prev High Low Dec 13 1763 1770 1779 1754 Mar 14 1765 1770 1779 1753 May 14 1760 1764 1774 1747 Jul 14 1753 1758 1767 1743 COFFEE(US$/tonne) Close Prev High Low Nov 13 1564 1587 1551 1551 Jan 14 1576 1599 1623 1546
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    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1259 25 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 15.9 0.0 5 -76 56 Asia-Pacific Strategic W*****6 0.4 1 123 502 51.25 6 Ratio Albedo Limited W*****9 2.9 unch 300 Ascendas Reit MB ECW*****3 2.9 0.2 240
      1,259 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 25 CRUDE OIL PRODUCTS Nov 22 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 110.52 1.38 WTI (Near Mth) 94.49 -0.33 Dubai (1-Mth F) 106.94 2.37 Tapis blend 115.98 2.45 Minas 110.18 2.45 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 106.17 1.59 Jet Kerosene 124.42 1.87 US$/barrel OpecOil Basket
      70 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      22 25 Nov 25 S$ Bid Offer 1-month 1.2523 1.2533 2-months 1.2522 1.2532 3-months 1.2522 1.2532 6-months 1.2518 1.2529 Source: OCBC
      22 words
    • Article
      Lock icon LONDON METALS
      66 25 Nov-22 Nov-22 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1737.75 1738.75 3 months 1782.00 1785.00 Copper, Grade A(US$/tonne) Cash 7098.00 7024.00 3 months 7095.00 7020.00 Lead(US$/tonne) Cash 2086.50 2068.25 3 months 2107.00 2088.00 Nickel (US$/tonne) Cash *****.25 *****.25 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 25 As at 9am Nov 25 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.173 1.118 Can dollar 1.206 1.160 Euro 1.731 1.649 Sterling pound 2.065 1.986 NZ dollar 1.050 1.010 US dollar 1.274 1.214 Local dollars to 100 units of foreign
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    • Article
      Lock icon INTERBANK RATES
      157 25 Nov 25 $S Offer Bid 0vernight 0.01 -0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 7/16 5/16 Overnight mode: 0.05 US$ Offer Bid 7 days 0.20 0.10 1 month 0.26 0.16 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
      157 words
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  • PROPERTY
    • Article, Illustration
      Lock icon It’s back to splurging on US$1,000 faucets
      1486 26 Spending on home renovation in America is rising to record levels Bloomberg [BOSTON] A year ago, New Jersey contractor Michael Mroz’s customers were focused on saving money when renovating kitchens and baths, he said. Now, with a resurgence of home equity lending, they’re
      Bloomberg; PHOTO: AFP  -  1,486 words
    • Article, Illustration
      Lock icon KL group gets £790m loan for London project
      614 27  -  Battersea Project Holding will use the funds to turn iconic power station into a mixed-use development By S JAYASANKARAN in Kuala Lumpur A MALAYSIAN consortium has secured a syndicated loan of £790.2 million (S$1.6 billion) for what could arguably become the single-largest
      PHOTO: BLOOMBERG  -  614 words
    • Article
      Lock icon More luxury houses coming up in London
      378 27 Developers plan 20,000 homes in 10 years as prices rise Bloom berg [LONDON] Luxury home developers plan to build more than 20,000 properties in London over the next decade, ramping up construction despite slowing price gains, consulting firm EC Harris said. The 10-year
      Bloomberg  -  378 words
    • Article, Illustration
      Lock icon China ban on sale of homes on rural land remains
      351 27 Reuters [BEIJING] China has reinforced a ban on selling property built by villages or farmers on rural land, state media reported yesterday, dashing hopes for a quick policy change after a top-level party meeting. The Ministry of Land and Resources
      Reuters; PHOTO: BLOOMBERG  -  351 words
  • Page 26 Advertisements
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      Lock icon Page 26 Advertisements Column 1
      316 26 T r Tui 6 s >*■ ICONIC CONSERVATION BUILDING One of a kind corner conserved t tenanted with 3% returns t upmarket setting I freehold,good location t near MRT/financial district Rare residential /commerical icons historical heritage unique caii 6222 5055 See our amazing slideshows of each property susan@isabelredrup.com 9sa6ef9?ecfrup Cftjency
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      Lock icon Page 26 Advertisements Column 2
      321 26 TENDER New Zealand TropicanaLynfield, Auckland, New Zealand Prized 22 Acre Lifestyle or Significant Residential Development Viewing: Viewing Strictly by Appointment Only International Tender This unique, once in a lifetime opportunity, being one of the largest remaining privately owned landholdings in the inner Auckland city area is offered for sale for
      321 words
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      Lock icon Page 26 Advertisements Column 3
      61 26 Brand New Light Industrial at Aljunied for Lease TOP soon 5-min walk to Raya Lebar MRT Excellent location Fitted bare Sizes from 7,000 to 80,000 sq ft Dominic Peters Grow Your Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices CEA Reg No.: R*****1G www.savills.com.sg
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      Lock icon Page 27 Advertisements Column 1
      456 27 A A .a at Cj dlr canary wharf DLR WEST INDIA QUAY M WESTFERRY '**> 'J, 7% wr -Mi *•< II 1/ a a 5 n b a In -‘I! Bf|i !WT/ J! .11. P3. JtSh W, Bit r. <? n ir SUITES APARTMENTS DUPLEX PENTHOUSES PRICES FROM £245,000 Canary
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      Lock icon Page 28 Advertisements Column 1
      90 28 "To me, insurance should be a source of comfort, not confusion." We couldn't agree more! With easy to understand products supported by experienced financial professionals, Zurich provides you with a clear and defined procedure so you understand every detail of your insurance plan. Zurich. Putting the "sure" in insurance. Call
      90 words