The Business Times, 21 January 2014

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Total Pages: 28
1 28 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Tuesday, January 21, 2014
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  • 644 1  -  Govt also looking at ways to enhance the overall management of their well-being, Parliament told By LEE U-WEN By leeuwen@sph.com.sg [SINGAPORE] The government will continue to monitor closely the overall number of foreign workers here and the impact on the communities that
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  • 900 1  -  HK, China stocks slip as data shows outlook dimming By in VIRGINIE MANGIN in Beijing CHINA’S growth momentum slowed in the fourth quarter last year as gains in factory production and investment spending eased. Gross domestic product rose 7.7 per cent in the Oc-tober-December
    PHOTO: AFP  -  900 words
  • 657 1 Government is assessing whether to declare a state of emergency: PM Bloomberg Reuters [BANGKOK] Thailand’s army chief yesterday called for calm after a series of attacks on anti-gov-ernment rallies in recent days injured some 70 people, prompting authorities to consider declaring
    Bloomberg; Reuters  -  657 words
  • MARKETS DIGEST
    • 65 1 HST INDEX 3,128.79 (-18.54) HST INDEX FUTURES 3,128.00 (-18.00) HSIMSCI 355.81 (-1.42) HSIMSCI FUTURES 355.60 (-1.00) US$ S$ US$ (S$ per US$) 1.277 (US$/S$ per 1.643 2.097 EURO (US$/S$/€ 1.355 1.730 Foreign currency per US$ S$ YEN 104.20 81.60 RM 3.316 2.597 HK$ 7.757 6.075 BAHT 32.86 25.73 RUPIAH
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    • 46 1 Monday Change KL COMP 1,807.59 -5.42 NIKKEI 225 15,641.68 -92.78 HANG SENG 22,928.95 -204.40 SET INDEX 1,289.99 -5.42 JAKARTA COMP 4,431.57 +19.34 MANILA COMP 6,005.60 +18.51 SEOUL COMP 1,953.78 +9.30 SHENZHEN B 846.68 +1.51 MUMBAI IND 21,205.05 +141.43 11am EST Change DOW Closed NASDAQ Closed
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    • 20 1 SINGAPORE MALAYSIA MALAYSIA 6.55 HONG KONG 5.00 INDONESIA KOREA TAIWAN 5.036 JAPAN 1.475 KOREA INDIA BRITAIN Source: Bloomberg
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  • TOP STORIES
    • 686 2  -  Study also suggests manufacturing is likely to ease in the next few months By VIVIEN SHIAO vshiao@sph.com.sg [SINGAPORE] Local business confidence is wilting in the first quarter of this new year, although it remains in the positive range, going by the latest
      PHOTO: CHOO CHWEE HUA/THE NEW PAPER; Source: Singapore Commercial Credit Bureau  -  686 words
    • 383 2 Close watch on impact, size of foreign workforce THE government will continue to monitor the number of foreign workers here and the impact on the communities. FRONT PAGE China’s growth loses steam in Q4 CHINA'S growth momentum slowed in Q4 last year GDP rose 7.7 per cent in
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    • 594 4  -  It will allow agencies to enforce alcohol curbs, direct movement of people YESTERDAY IN PARLIAMENT By leeuwen@sph.com.sg LEE U-WEN leeuwen@sph.com.sg [SINGAPORE] The police will soon be given greater powers to maintain public order in Little India once a new bill is
      THE STRAITS TIMES FILE PHOTO  -  594 words
    • 865 4  -  Prosecution shows documents to press case over shams CITY HARVEST CHURCH TRIAL By MICHELLE QUAH michquah@sph.com.sg [SINGAPORE] The prosecution yesterday tried to cast more doubt on the veracity of the multi-million-dollar bond transactions entered into by City Harvest Church (CHC) to
      PHOTO: WONG KWAI CHOW/THE STRAITS TIMES  -  865 words
    • 355 4  -  Some may like to receive messages from companies with which they have a relationship By JOYCE HOOI joyceh@sph.com.sg [SINGAPORE] The eleventh-hour exemption for part of the Do-Not-Call (DNC) registry was an attempt to meet the preferences of “as many consumers as possible”,
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    • 596 4  -  New national policy aim is to become a regional auto hub By PAULINE NG in Kuala Lumpur IN A BID to attract investments and to wrest back its position as a regional automotive powerhouse, Malaysia will exempt excise duties and
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    • 247 2 (Business Trust Registration No. *****02) (Constituted in the Republic of Singapore as a business trust pursuant to a trust deed dated 23 July 2009 (as amended)) Notice of Books Closure Date Distribution Payment Date Notice is hereby given that the Unit Transfer Books and Register of Unitholders of K-Green Trust
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    • 87 2 A- i Specialist for Company Trips rust Our Knowledge For 01 Your Travel Needs A U) budget tour Planners Beyond Expectations Services Include: Company Incentive Trips Church Retreat Packages Free Easy Air Packages Customised Pilgrimage Tours Malaysia Coach Tours Local Sightseeing Tours Coach Hire (Singapore Malaysia) Cruises BudgetTour Planners Pte
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    • 13 2 o www.omy.sg 91 k A 3 Sim SIR ss i mm uamnaoi video.omy.sg
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  • COMPANY NEWS
    • 506 5  -  Higher service revenue and lower costs boost telco’s earnings 7.1% to $40.5m By JOYCE HOOI joyceh@sph.com.sg M1 ended last year with a 7.1 per cent increase in fourth-quarter net profit to $40.5 million, boosted by higher service revenue and lower costs.
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    • 416 5  -  Payout puts yield at 7.5%; full-year profit dips 4% to $14.2m By GRACE LEONG gleong@sph.com.sg K-GREEN Trust (KGT) has maintained its second-half distribution per unit at 4.69 cents, bringing its full-year (FY2013) DPU to 7.82 cents, unchanged from FY2012. This translates to a
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    • 694 5  -  By KENNETH LIM kenlim@sph.com.sg VALUATIONS of stocks in the Asian consumer staples sector are said to be rich, raising the question of whether the segment is in for a downward re-rating this year. While some analysts see a bubble deflation on the horizon,
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    • 532 5  -  By MINDY TAN tanmindy@sph.com.sg KEPPEL Reit posted a fourth-quarter distribution per unit (DPU) of 1.97 cents, unchanged from a year ago. The three months ended Dec 31, 2013, saw distributable income rising 5.9 per cent year-on-year to $54.9 million from $51.9 million.
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    • 325 5  -  By MINDY TAN tanmindy@sph.com.sg MAPLETREE Logistics Trust’s distribution per unit (DPU) rose 7 per cent to 1.84 cents for the third quarter ended Dec 31, 2013, from 1.72 cents a year ago. This was on the back of a 7.7 per cent gain in distributable
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    • 711 7  -  It’ll pay US$731m for 20% Zhongsheng stake, making it one of top 3 shareholders By ANGELA TAN angelat@sph.com.sg JARDINE Strategic Holdings Ltd has agreed to invest US$731 million to buy a 20 per cent stake in Hong Kong-listed Zhongsheng Group Holdings Ltd,
      PHOTO: AFP  -  711 words
    • 414 7  -  By ANDREA SOH sandrea@sph.com.sg XINJIANG mining exploration firm Mineriver, in which mainboard-listed JES International is buying a 30 per cent stake, yesterday sought to dispel questions over the claim that it had 4.2 billion tonnes of resources in its mine. Mineriver CEO
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    • COMPANY BRIEFS
      • 44 7 LEY CHOON Group Holdings secured a $7 million contract from the Public Utilities Board through its subsidiary Chin Kuan Engineering and Contractors. The contract is for watermain repairs and other contract work for network services (East Division).
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      • 105 7 SATS’s aviation operating data show that the number of flights that it handled for the third quarter (Oct-Dec 2013) grew 10.2 per cent year-on-year to 34,920 while the number of passengers handled was up 4.8 per cent at 11.25 million thanks to stronger traffic
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      • 84 7 INDUSTRIAL waste gas treatment solutions provider China Environment has secured two contracts worth RMB393.6 million (S$82.7 million) through its unit Fujian Dongyuan Environmental Protection Co. The deals are an RMB11 million contract from Nanjing Iron and Steel United Co for the upgrading of two units
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      • 53 7 AUSGROUP’s subsidiary MAS Australasia, a scaffolding provider, was awarded a two year plus one year option for scaffolding for maintenance services at BHP Billiton’s Worsley Alumina refinery in Western Australia, worth up to A$7 million per annum with a potential full contract value of A$21
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    • 1580 8  -  There’s no housing bubble in Singapore, but only if people buy within their means, says CAI HAOXIANG ANALYSIS CAI HAOXIANG haoxiang@sph.com.sg A BUBBLE can provoke fear or outrage. Fear, because if a speculative bubble rising on nothing but hot air bursts, the
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  • SINGAPORE MARKETS
    • 590 6  -  Also not helping was Wall Street closure; penny stocks still in the limelight STOCKS R SIVANITHY sivan@sph.com.sg Senior Correspondent THE local stock market yesterday struggled to make headway against the triple headwinds of US Federal Reserve tapering that has led to a drastic loss of
      Source: Bloomberg  -  590 words
    • 4 6 DAILY
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    • 83 6 Jan 20 VALUE CLOSE BT OB/OS -327.00 -79.00 BT CADI -*****.00-120.00 BT 10-day MA -*****.00 -33.00 FTSE ST Mid Cap 714.70 -1.43 FTSE ST Small Cap 539.60 -2.66 FTSE ST All Share 759.78 -3.95 FTSE ST China Top 200.13 -2.30 FTSE ST China 229.03 -1.95 FTSE ST
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    • 58 6 VOLUME Mirach Energy 505,643,000 Charisma Energy 226,075,000 HanKore 194,787,000 Albedo 189,957,000 KLW Hldgs 184,739,000 Transcu Grp 155,300,000 Federal Int 122,340,000 CNA 88,537,000 M Devt 86,240,000 Innopac 59,724,000 VALUE($) Mirach Energy 96,785,085 SingTel 33,722,850 DBS Grp 30,920,300 Ezra 28,486,150 UOB 23,286,216 Genting SP 23,123,890 HanKore 21,549,761 OCBC Bk
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    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 7 2 0 0 0 5 7 2 Manufacturing 25 66 44 6 14 6 31 80 50 Commerce 17 22 15 2 7 1 19 29 16 Tpt/Stor/Comms 5 22 9
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    • BROKERS’ TAKE
      • 350 6 Jan 20 close: S$1.54 DMG Partners Research, Jan 17 MTQ will be acquiring 100 per cent of Binder Group, a private Australian company providing pipe support and pipe suspension solutions to the oil and gas sector, for A$ 19.3 million (S$21.7 million) cash. We estimate the forward purchase
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      • 214 6 Jan 20 close: S$2.18 Maybank Kim Eng Research, Jan 20 ASCENDAS Reit (A-Reit’s) ninemonth revenue grew 6 per cent year on year to S$154 million, constituting 76 per cent of our and 74 per cent of consensus estimates. The rise was attributable to rental income earned from The
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      • 416 6  -  Compiled by CAI HAOXIANG Jan 20 close: S$0.755 CIMB Research, Jan 17 YOMA reported sales of S$30.2 million in Q3 2014, up 132.5 per cent year on year. Sales of residential properties (S$10.95 million) and land development rights (LDRs) (S$16.22 million) contributed to 90 per cent of the
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    • 121 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 12,339 12,339 31,163 31,163 Manufacturing 256,167 284,504 540,671 73,784 11,277 85,062 Commerce 270,162 296,628 566,790 62,506 24,782 87,288 Tpt/Stor/Comms 87,432 3,175 90,607 100,077 360 100,437 Finance 69,232 16 69,248 84,505 5 84,510 Construction 60,979 266,455
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    • 110 6 Stock name Close Change CapMallsAsia 1.865 -0.015 CapitaLand 2.910 -0.010 CapitaMall 1.875 CityDev 9.520 -0.030 ComfortDelGro 1.920 -0.025 DBS Grp 17.410 +0.010 GLP 2.910 -0.030 Genting SP 1.460 -0.010 Golden Agri 0.530 HK Land 6.320 -0.080 HPH Trust US$ 0.675 -0.005 JMH 55.200 -1.720 JSH 34.100
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    • 466 6 CURRENCIES Reuters [LONDON] The euro recovered slightly from a two-month low against the US dollar yesterday, helped by higher short-term market interest rates, although speculation that the European Central Bank (ECB) may step in limited its gains. After breaking through support at US$1.3550 on
      Reuters; PHOTO: BLOOMBERG  -  466 words
    • 113 6 BY CENTS CLOSE UP GLD 10US$ ***** 160.9 1.1 Lyxor Indonesia10US$ 7679 89.4 0.9 DBXT FTVietnam 10US$ 2790 83.0 2.4 DBXT S&P Short 10US$ 2608 30.6 0.9 Vicom 528 13.0 2.5 Sarin 210 10.0 5.0 Lyxor US DJIA 10 US$ 1672 8.9 0.4 SPDRS S&P 500 10US$ ***** 8.9
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    • 121 6 BY CENTS CLOSE DOWN JMH 5520 -219.6 -3.0 JSH 3410 -65.1 -1.5 DBXT FTChina25 10US$ 2791 -46.0 -1.3 Lyxor ThaiSET 10US$ ***** -37.0 -0.3 Jardine C&C 3912 -28.0 -0.7 Lyxor MS India 10US$ 1331 -26.8 -1.6 Ezra.ES.1401 108 -25.5 -19.1 Kep Corp.ES.1401 1096 -24.0 -2.1 DBXT MSEurope 10US$ 5997
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    • 5 6 DAILY
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    • 292 7 3E B* a3Ai/3S3H I TV. V>> r I A y- j4V!A\ VS^-^ Zfcfif5 CENTRfcSWSv RESBRVIERT RESERVED TOSVXW 1^. ccR rHANGI EXHIBITION CENTRE SINGAPORE AIRSHOW 2014-11- 16 FEB CHANGI ASIA’S BIGGEST FOR AVIATION’S FINEST SCAN TO REGISTER The world of aviation will once again take centre stage at Asia’s largest aerospace
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    • 94 8 10 reasons 2014 will rock! Sports Hub opens Bye-bye to unwanted calls Shorter wait for trains Jurassic Park New public hospital More Primary 1 places Samba soccer in Brazil New superhero movies Election fever in India and Indonesia Wearable technology The Straits Times looks back at 2013 and forward to
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  • SINGAPORE NEWS
    • 418 9  -  But expectations remain above official inflation forecasts: SInDEx By kellytay@sph.com.sg KELLY TAY By kellytay@sph.com.sg CONSUMERS here continue to expect inflation to trend downwards this year partly because of last year’s loan curbs to encourage financial prudence, but expectations remain above official inflation forecasts. According
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    • 360 9  -  By JACQUELYN CHEOK jaccheok@sph.com.sg SYNTHETIC and artificial cell membranes, invented by local biotech startup ACM Biolabs to mimic living and natural human cell membranes for use in drug testings, may just be about to revolutionise the global drug discovery industry. This patented artificial cell
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    • 270 9 THE Singapore National Eye Centre (SNEC) and Duke-NUS Graduate Medical School Singapore yesterday announced a $5 million professorship to honour Arthur Lim Siew Ming, a pioneer of Singapore’s ophthalmology sector. The Arthur Lim Professorship in Ophthalmology will be established with SNEC donating $2.5 million
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    • 387 9  -  Singapore seen as one beneficiary of big jump to 200m By NISHA RAMCHANDANI nishar@sph.com.sg OUTBOUND travel from mainland China is expected to double from 100 million in 2013 to 200 million by 2020, and Singapore is likely to be a beneficiary of
      FILE PHOTO  -  387 words
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    • 50 9 TT*^ MWs ACADEMY 2014 articipate in the NO. 1 CHILDREN'S EDUCATION SHOW! Suntec Singapore 6-8 June 2014 111 am 9pm BOOK NOW! Limited Booths available! > For more information, please contact Ms Adeline Goh 9681 8289 gohtna@sph.com.sg Mr Jeffrey Foe 9008 9391 jefffoo@sph.com.sg www.thekidzacademy.com.sg Organised by: sphere A SUBSIDIARY OF
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    • 39 9 CONGRATULATIONS TO THE WINNERS OF THE LATEST StraitsTimesCarOfTheYear VOLKSWAGENGOLF BestSportsUtilityVehicle RANGEROVER Best Executive Saloon LEXUS IS BestStationWagon AUDIRS4AVANT BestFamilySaloon KIAFORTEK3 BestNotchbackCoupe BMW4SERIES BestSportsCar(Convertible) JAGUARF-TYPE BestHotHatch BMWM135i BestSportsCar(Coupe) PORSCHECAYMAN Read about Singapore’s best cars of 2013 in torqueJanuary 2014 issue!
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  • SME Inc
    • 1168 10  -  Ley Choon aims to add bricks to its current recycled output of concrete aggregate and asphalt pre-mix, reportsWANG XIN MIN WANG XIN MIN Underground infrastructure utilities provider Ley Choon Group Holdings believes that throwing away the waste material from construction work is just that
      PHOTO: ARTHUR LEE  -  1,168 words
    • 885 10  -  SMEs with CSR branding and management strategies can expect to enjoy enhanced reputation and better performance THE VIEW FROM NTU PROFESSORS By RUSSELL ARTHUR SMITH The writer is an associate professor in the Nanyang Business School specialising in sustainable tourism and hospitality development and
      PHOTO: AFP  -  885 words
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    • 65 10 HAVE an interesting story on an SME to share? Drop us a note on why you think the company should be featured in our weekly SME Inc pages, with details such as how the company has grown and its expansion plans. Send your e-mail to Felda Chay at feldac@sph.com.sg with
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    • 223 11 THE STRAITS TIMES WHEREVER YOU ARE LIFE'S A REWARD WHEN YOU SUBSCRIBE TO US GET THESE EXCITING GIFTS WHEN YOU SUBSCRIBE TO THE STRAITS TIMES! ALL-IN-ONE PRINT ONLINE TABLET SMARTPHONE Select a Plan and Pick Your Gift 3 YEAR PLAN 1 ■TtCEH r m r a i HflPPyCflLL 0 n
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  • MALAYSIA/INDONESIA
    • 520 12  -  Global online payment service firm seen gunning for US$300m IPO By S JAYASANKARAN in Kuala Lumpur MOL Global, a global online payment service company owned by Malaysian billionaire Vincent Tan Chee Yioun and the firm’s founder Ganesh Kumar Bangah, could seek a
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    • 530 12 Search engines may be required to start building centres [JAKARTA] Internet search engine giants Google and Yahoo may have to start building data centres in Indonesia as early as next month if a draft regulation by the Technology and Information Ministry becomes effective, reports Malaysia’s
      PHOTO: REUTERS  -  530 words
    • 225 12 Reuters [DUBAI] Royal Dutch Shell and Mubadala Petroleum have swapped equity stakes in two exploration blocks off Malaysia, the companies said. Mubadala has taken a 20 per cent interest in the Shell-operated deepwater Block 2B and Shell has taken a 20 per cent interest
      Reuters  -  225 words
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  • GREATER CHINA/INDIA
    • 737 13  -  AAP’s stand against corruption and its message of austerity are a big draw By NEETA LAL in New Delhi INDIA’S Aam Aadmi Party (AAP), with its strong emphasis on strong governance and erasing the country’s entrenched corruption, appears to be gaining favour with India
      PHOTO: AFP  -  737 words
    • 741 13 It is draining bank deposits, raising risk of financial failures Bloomberg [SHANGHAI] A doubling in China’s money-market funds in the past six months is draining bank deposits and raising the risk of financial failures during cash crunches, according to Fitch Ratings. The assets under management of
      Bloomberg  -  741 words
    • 279 13 Reuters [NEW DELHI] Luxury goods group Richemont, whose stable of brands includes jewellers Cartier and Van Cleef Arpels, has applied to open shops in India, joining other global retailers who entered the market since New Delhi relaxed investment rules. The entry could
      Reuters  -  279 words
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    • 252 13 FUTURE iitiiiiiiia CHINA ADVANCED LEADERS PROGRAMME Grooming future leaders to “China-ready”, “China-sawy” and “Connected” 'm be > The course has given us a concise and condensed introduction to China's past, present and future, allowing us to gain an in-depth understanding of the diverse social ecology and inter-connectedness of the country's
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  • WORLD
    • 914 14 Investors bet low interest rates will boost mortgage lending and lead to higher dividends Bloomberg [SYDNEY] Australia’s largest banks are trading at the most expensive levels since before the global financial crisis on bets a mortgage lending recovery will allow them to increase dividend
      Bloomberg; PHOTO: BLOOMBERG  -  914 words
    • 323 14 It hopes to offset declining workforce, accelerate growth Reuters [TOKYO] Japan’s government agreed yesterday to make it easier for firms to hire foreign workers for highly-skilled positions and as trainees to offset a declining workforce and accelerate economic growth. The government will also
      Reuters  -  323 words
    • 354 14 But tax hikes may be needed to achieve budget surplus by 2021, says govt report Reuters [TOKYO] Japan can halve its budget deficit by fiscal 2015-16 thanks to higher tax income but more effort is needed for the country to
      Reuters  -  354 words
    • 973 14 Anti-govt protests prompt money managers to sell Bloomberg [BANGKOK] The risk of Thailand defaulting on its debt is the highest since August as anti-government protests prompt money managers to sell the nation’s assets. The cost of protecting the nation’s debt
      Bloomberg; PHOTO: BLOOMBERG  -  973 words
    • 175 14 Xinhua [YANGON] The Central Bank of Myanmar will allow foreign banks to operate in the country this year, local media reported on Sunday. Drafting of regulations to govern such operations is underway with the help of the World Bank and
      Xinhua  -  175 words
    • 474 15 Budget impasse, Snowden revelations, botched Obamacare rollout weigh heavily Reuters [DAVOS, Switzerland] Trust in governments worldwide took a dive last year with Washington’s reputation a notable casualty as President Barack Obama grappled with a budget showdown, the Snowden spying crisis and
      Reuters  -  474 words
    • 825 15 Bloomberg [SAN FRANCISCO] Nintendo Co is under pressure to consider ending production of video game machines after reporting disappointing sales of its Wii U console and forecasting a surprise loss, prompting its stock to tumble. Nintendo fell 6.2 per cent to 13,745
      Bloomberg; FILE PHOTO  -  825 words
    • 855 15 Analysts forecast the fastest global growth since 2011 Bloomberg [LONDON] Companies around the world are starting to share the exuberance that inspired investors last year. As executives gather in Davos, Switzerland, this week for the World Economic Forum’s annual meeting, business confidence is
      Bloomberg  -  855 words
    • 686 15 Lawmakers object to tapping of non-govt entities AFP [WASHINGTON] Figuring out where to house mountains of data collected by the National Security Agency is the thorniest challenge the United States faces in curtailing its massive surveillance, officials said. In a long-awaited speech designed
      AFP  -  686 words
    • 576 16 Cost of litigation and restructuring leads to 1.15b euro surprise pre-tax loss Reuters [FRANKFURT] Deutsche Bank posted a surprise pre-tax loss of 1.15 billion euros (S$2 billion) for the fourth quarter due to heavy costs for litigation and restructuring, and warned that 2014 would be
      Reuters; PHOTO: AFP  -  576 words
    • 877 16 NYT [STAFFORD, England] For the last two years, Josh Younger, 19, has been learning how to fuse heavy steel pipes used in nuclear power plants, spending hours each day behind a welding helmet and surrounded by the acrid smell of scorched metal.
      NYT  -  877 words
    • 388 16 CBI/PwC survey finds optimism extending to this quarter too Reuters [LONDON] Britain’s financial services industry is beginning to feel the benefits of economic recovery, as firms report growth in profits, business volumes and optimism in the fourth quarter, according to a survey. Some 69
      Reuters  -  388 words
    • 645 16 Bloomberg [HELSINKI] Bitcoin doesn’t meet the definition of a currency or even an electronic payment form in Finland, where the central bank has instead decided to categorise the software as a commodity. “Considering the definition of an official currency as set out in
      Bloomberg  -  645 words
    • 740 16 Bloomberg [SINGAPORE] The Swiss franc is offering carry traders some of the best returns in developed markets as forecasts it will depreciate faster than the yen boost its appeal as a funding currency. In carry trades, investors buy high-er-yielding assets funded by currencies
      Bloomberg; PHOTO: BLOOMBERG  -  740 words
    • 801 17 Dearth of jobs, austerity push household income down 10% since ‘08 Bloomberg [MADRID] Spanish Prime Minister Mariano Rajoy can count the social cost of the economy’s slump when data this week show how 2013 was probably the worst year for work in
      Bloomberg; PHOTO: REUTERS  -  801 words
    • 326 17 Britain is generating the biggest online trade surplus now Reuters [BERLIN] The value of online exports in six of the top e-commerce markets will grow fivefold to US$130 billion by 2020, with Britain currently generating the biggest online trade surplus by selling
      Reuters  -  326 words
    • 303 17 Reuters [LONDON] Central banks will be able to unwind their vast bond purchases when market conditions are more normal without a big impact on asset prices and the real economy, Bank of England research suggested yesterday. Since the global financial crisis
      Reuters  -  303 words
    • 467 17 AFP [PARIS] The world’s elite have rigged laws in their own favour, undermining democracy and creating a chasm of inequality across the globe, charity Oxfam said in advance of the annual get-together of the world’s most powerful at Davos. Inequality has run so out
      AFP; PHOTO: AFP  -  467 words
    • 311 17 Bloomberg [TAIPEI] Lenovo Group Ltd is in serious discussions to acquire International Business Machines Corp’s (IBM) low-end server business, and a deal may be signed within weeks, according to a person with direct knowledge of the matter. Lenovo, the world’s largest personal-computer maker,
      Bloomberg  -  311 words
    • 321 17 Reuters [DUBAI] A property developer has started building a huge resort complex on a man-made archipelago off Dubai’s coast as the emirate revives tourism and real estate projects suspended after its property market crash in 2008. The “Heart of Europe” project, a
      Reuters  -  321 words

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    • 505 15 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 EVERPEACE DEVELOPMENT PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) (Company Registration No. *****0985N) At an Extraordinary General Meeting of the above-named Company held on 17 January 2014 at 10.00 a.m. at the registered office at 17 Upper Circular Road, #03-00 Juta Building,
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  • EDITORIAL & OPINION
    • 511 18 EDITORIAL WHILE few will fault Indonesia’s attempt to get its mining industry to add value to its exports by processing the minerals within the country, the way the new policy has been implemented is causing consternation among its miners. Mining contributes no less than
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    • 864 18  -  THE BOTTOM LINE PAUL KRUGMAN The writer is professor of economics and international affairs at Princeton University, and winner of the Nobel Prize in economics in 2008 NYT THE reality of rising American inequality is stark. Since the late 1970s
      NYT  -  864 words
    • 1014 18  -  Existing schemes should be reviewed to make them more accessible BUDGET 2014 By ALAN LAU LARRY SIM The writers are financial services tax partners at KPMG in Singapore. The views expressed are their own IT IS undeniable that Singapore has come a long
      FILE PHOTO  -  1,014 words
    • 1214 19  -  Monetary and fiscal stimulus should be enough to lift Japan’s real growth rate to the desired target, says ‘Mr Yen’ ANTHONY ROWLEY Tokyo Correspondent JAPAN does not need the “third arrow” of Abenomics in order to restore an acceptable and sustainable rate of growth in
      PHOTO: AFP  -  1,214 words
    • 1182 19  -  By HARISH MEHTA The writer, a former BT senior Indochina correspondent, is a historian who has taught at Canadian universities and has written books on Cambodia CHINA’S first diplomatic action of the new year took the form of a blunt warning: it enacted a new
      PHOTO: REUTERS  -  1,182 words
    • 806 19  -  By EDWARD HADAS &SH REUTERS BREAKINGVIEWS BITCOIN is not over yet. But the pseudo-currency is close enough to collapse to merit an early retrospective. My prediction is controversial. Many fervent fans are persuaded that this government-free currency is for real. Their ardour may keep it going
      &SH REUTERS BREAKINGVIEWS  -  806 words


  • AVIATION/SHIPPING
    • 461 20  -  Global market up 5.4% year on year led by Far East, US and eurozone By NISHA RAMCHANDANI nishar@sph.com.sg [SINGAPORE] International premium travel grew 5.4 per cent year-on-year in November last year, eclipsing the 4 per cent growth registered for the eleven months
      461 words
    • 1052 20 AerCap’s takeover of ILFC may pave way for IPOs Reu ters [SHANNON, Ireland] Twenty years after the spectacular collapse of Irish tycoon Tony Ryan’s plane leasing empire, the Emerald Isle has restored its grip on the world’s aircraft fleet with a mega-merger that could
      Reuters  -  1,052 words
    • 1015 20 Reuters [PANAMA CITY/MADRID] A bitter dispute between the Panama Canal and a Spanish-led consortium of construction companies over the spiralling cost of expanding one of the world’s busiest waterways was years in the making. The two sides are at odds over who should pay
      – Reuters; PHOTO: REUTERS  -  1,015 words
    • 239 20 SGX '000 Jan 20 S$ +/-Vol Ch Offshore 0.44 -0.01 42 Chuan Hup Hldg 0.26 -0.01 121 Jan 20 Cwt Limited...............1.35 unch 64 First Ship Lea unch unch 0 Grand Banks 0.22 unch 26 Jaya Hold Ltd 0.44 K1Ventures -0.01 Keppel Corp 10.94 -0.07 1842 Mercator Lines unch
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    • 264 20 Bloomberg [LONDON] AirAsia, Southeast Asia’s biggest budget carrier, is close to restarting plans for a Japanese unit after a partnership with ANA Holdings unravelled in June, chief executive officer Tony Fernandes said. “Japan is a market we are very bullish on,” Mr Fernandes
      Bloomberg  -  264 words
  • Page 20 Advertisements
  • Page 20 Miscellaneous
    • 301 20 CRYPTIC CROSSWORD Across 1 Fly into a rage at failure to find sandal (4-4) 6 Unconventional exit (3-3) 9 Ugly mob after nervous pal coolness is required (6) 10 Church with a candid clergyman (8) 11 Delicacy got from fair goes off (4,4) 12 Female let down in the prime
      301 words

  • 1342 21 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
    1,342 words
  • Page 21 Advertisements
    • 59 21 'yTS new IE PC Services we provide; Transportation/Haulage Mechanical Repairs Pre Delivery Inspection Refurbishment Accessory Fittings Washing Storage/Preservation Yard Management Wallenius Wilhelmsen Logistics Singapore Pte Ltd Tel: (65) 6379 5166 Fax: (65) 6379 5106 Email: 2wsinenq@2wglobal.com Website: http://www.2wglobal.com FREIGHT FORWARDER urgently needed by shippers Can they find your services here
      59 words

  • SINGAPORE STOCKS
    • 2977 22 Transaction date: Jan 20 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 14.1 11.5 8Telecom Last Sale AAT Vol Day Last Quote ('000) High Low Buyer Seller Div Gr Yld 11.5 7
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    • 290 23 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
      290 words
    • 11429 23 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.53/ Aberdeen Asset Mgt Asia Limited Aberdeen Asset Mgt Asia Limited EM Local Ccy Bond Asian Smaller Cos'** 1.871/ China Opportunities! ...2.8326/ EM Local Ccy Bond 0 8949/ European Opportunities!’’ 1.3252/ Global Emerging Markets'" Global
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    • 262 23 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 61 34.4 AVJennings A56 unch 3 56 56 56 56.5 3.6 6.3 4.5 207.3 52 35.5 Genting HK US$ US41.5 -1 2823 42.5 41.5 41.5 42 2732.6
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    • 841 23 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Company 143 124 CIMB APAC Div 100S$D 124 124 114.4 98.3 CIMB APAC Div 100US$ US98.6 10.4 1510 1192 CIMBASEAN40 100S$D 1271 15 1256 1274 1217
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  • FINANCE & COMMODITIES
    • 674 24 Jan 20 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.14 *****.26 *****.23 Mar14 *****.00 *****.00 *****.00 *****.00 ***** *****8 Jun14 *****.00 *****.00 *****.00 *****.00 16 1877 MSCI TAIWAN INDEX FUTURES SPOT 302.40 304.36 301.89 Jan14 302.40 304.30 300.80 303.70 ***** *****0 Feb14 301.70
      674 words
    • 373 24 In local curr In S$ In US$ dy yr dy yr dy yr Jan 17 Index Change Change Change Change Change Change World Preliminary 1189.5 0.1 0.4 0.1 0.9 0.0 -0.1 EAFE Preliminary 966.9 0.2 1.1 0.3 1.2 0.2 0.2 Europe Preliminary 1381.8 0.2 2.0
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    • 471 24 Jan 20 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.963 5.323 0.649 6.823 54.192 106.542 0.917 9.357 2.917 1.067 92.754 39.679 1.123 9.583 0.801 26.546 28.904 0.535 0.880 Canada 1.038 5.527
      471 words
    • 32 24 Jan 20 (US$) (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) (S$) 3 mths ..0.***** Source: Thomson Reuters
      32 words
    • 86 24 Jan 20 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 6-Month BS*****Z 27-Jun-14 0.31 1-Year BY*****T 31-Oct-14 0.34 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0W 1.13 01-Apr-16 101.51 5-Year N*****0T 0.5 01-Apr-18 97.71 97.80 97.80 10-Year NX*****H
      86 words
    • 139 24 Jan 20 GOLD(US$/oz) Jan 20 Jan 17 Hong Kong 1261.00 1247.00 Jan 17 Jan 16 London 1251.97 1241.19 1252.80 1242.41 Source: Thomson Reuters CAST BAR Jan 20 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 116 51 5gm 329 257 10gm 587 514
      139 words
    • 59 24 Jan 20 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 14 2544.0 2560.0 2562.0 2537.0 746 9565 Feb 14 2555.0 2568.0 2572.0 2548.0 6551 ***** Mar 14 2567.0 2579.0 2585.0 2559.0 ***** ***** Apr 14 2570.0 2582.0
      59 words
    • 155 24 Jan 20 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1228 1.1235 0.8794 0.8798 Canadian dollar 1.1657 1.1665 0.9135 0.9130 Euro 1.7293 1.7300 1.3544 1.3547 NZ dollar 1.0525 1.0528 0.8243 0.8244 Sterling pound 2.0970 2.0979 1.6424 1.6428
      155 words
    • 109 24 Jan 17 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Mar 14 1316.50 1315.00 1318.50 1305.50 May 14 1297.25 1296.25 1298.50 1288.00 Jul 14 1282.00 1281.25 1283.50 1273.25 Aug 14 1241.25 1241.25 1242.50 1234.25 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Mar 14
      109 words
    • 94 24 Jan 17 COCOA (£/tonne) Close Prev High Low Mar 14 1730 1773 1764 1715 May 14 1717 1758 1749 1705 Jul 14 1711 1751 1741 1701 Sep 14 1705 1742 1732 1695 COFFEE(US$/tonne) Close Prev High Low Jan 14 1725 1749 1743 1714 Mar 14 1710 1735 1733 1706
      94 words
    • 1143 24 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 Conv Asia-Pacific Strategic W*****6 0.4 1 123 184 108.75 4 Acma Ltd W*****7 Price Albedo Limited W*****9 5.3 unch 840 Ascendas Reit MB ECW*****3 2.9 0.2 240 2
      1,143 words
    • 70 24 CRUDE OIL PRODUCTS Jan 17 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 106.89 0.81 WTI (Near Mth) 94.14 0.06 Dubai (1-Mth F) 102.40 -0.52 Tapis blend 113.54 -0.10 Minas 106.54 -0.40 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 101.22 -0.50 Jet Kerosene 120.23 0.34 US$/barrel OpecOil Basket
      70 words
    • 22 24 Jan 20 S$ Bid Offer 1-month 1.2768 1.2770 2-months 1.2767 1.2769 3-months 1.2767 1.2769 6-months 1.2763 1.2766 Source: OCBC
      22 words
    • 66 24 Jan-17 Jan-17 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1757.25 1757.25 3 months 1798.00 1798.00 Copper, Grade A(US$/tonne) Cash 7336.00 7336.00 3 months 7310.00 7310.00 Lead(US$/tonne) Cash 2170.25 2170.25 3 months 2197.00 2197.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
      66 words
    • 121 24 As at 9am Jan 20 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.144 1.090 Can dollar 1.187 1.142 Euro 1.765 1.681 Sterling pound 2.133 2.051 NZ dollar 1.077 1.036 US dollar 1.303 1.241 Local dollars to 100 units of foreign
      121 words
    • 154 24 Jan 20 $S Offer Bid 0vernight 0.03 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 7/16 5/16 Overnight mode: 0.01 US$ Offer Bid 7 days 0.20 0.10 1 month 0.26 0.16 2 months 0.30 0.20 3 months 0.40 0.20 6 months 0.50 0.30 9 months 0.60 0.40 12
      154 words

  • PROPERTY
    • 634 25 2013 tally is best since 2007 and is 18.3% higher from previous year Bloomberg [WASHINGTON] The pace of US home construction dropped less than forecast in December, capping the best year for the industry since 2007. Housing starts fell 9.8 per
      Bloomberg  -  634 words
    • 1080 25 Low-budget civic art, design transforming Bulgarian city NYT [SOFIA, Bulgaria] Delcho Delchev came back. For many of his generation, this is commuting against the tide of emigration from his native Bulgaria into the rest of Europe. B u t M r D e l
      NYT; PHOTO: NYT  -  1,080 words
    • 243 25 Reuters [WELLINGTON] New Zealand house prices in December retreated from a record high, while the number of houses sold also slipped from the previous month, the Real Estate Institute of NZ (Reinz) said yesterday. The Reinz’s house price index slipped one
      Reuters  -  243 words
    • 424 25 Bloomberg [DUBAI] Nakheel PJSC, the property developer at the heart of Dubai’s debt crisis in 2009, will have nine hotel projects under development by 2016 to benefit from the emirate’s growth as a regional tourist destination. The builder of the Palm
      Bloomberg  -  424 words
    • 517 26  -  Nine retail units at the 16-storey Lavender Street project find buyers By KALPANA RASHIWALA [SINGAPORE] All 52 strata office units available for sale at the ARC 380 project in Lavender Street/Jalan Besar have been sold. However, only nine of the 19 retail
      517 words
    • 996 26 Prices in tier 1 cities surge in absence of more property curbs Bloomberg [SHANGHAI] China’s new home sales last year exceeded US$1 trillion for the first time as property prices in cities the government considers first tier surged in the absence of
      Bloomberg; PHOTO: REUTERS  -  996 words
    • 459 26 Bloomberg [LONDON] London house price growth slowed in January after the best year since 2006 as values slid in the most expensive districts of Westminster and Kensington and Chelsea, Rightmove plc said. Asking prices in the UK capital increased
      Bloomberg  -  459 words
  • Page 25 Advertisements
    • 139 25 /WR\ Jones Lang VJJ IJJ LaSalle CEA Licence No. L*****26E CBRE CEA Licence No. L*****63I FOR SALE BY EXPRESSION OF INTEREST Rare Mixed-Use Shophouses with Prominent Frontages at Upper Bukit Timah Road Five 2-storey FH shophouses on 10,255 sq ft land Sizable ground floor commercial space close to 10,000 sq
      139 words
    • 80 25 KnightFrank.com.sg For Sale by Tender(Changi South) 3-storey purpose built detached factory with roof terrace. Easily accessible via ECP, PIE TPE, mins drive from Expo MRT. Land Area Approx 6,397 sm (68,861 sf) Gross Floor Area Approx 7,580 sm (81,588 sf) Zoning Business 2 Tenure JTC 30+30 years wef 1996 (Further
      80 words

  • Page 26 Advertisements
    • 50 26 KISS92 All the great songs in one place UNSWH NS WE h CMcn S a Catch the Kiss92 Kiss Mobile for car decals and great prizes! Tune in to Kiss92 for more details! 22 JAN (WED) 6:00PM WITH DJ ARNOLD CARPARK ALONG SEAH IM ROAD 9 Ml* k1ss92.sg facebook.com/kiss92fm Q@kiss92fm
      50 words
    • 64 26 HOT PROPERTY areaUHWies?,, 03 Mins to Redhiil Krt Wifi inclalso for shop eateries. Immed miss! Ctr 190sf #05, use. $1K. Near Don t BMtfsoOsnnrl' 61 Kaki office area nc 5 ar P a rk shops, nego SL tS work OFFICE SPACE FOR RENT Check this and many other properties in
      64 words

  • Page 27 Advertisements
    • 500 27 Goodman’s Fields Introducing Meranti House GOODMANS FIELDS LONDON El S. r, KO I 11 i* t ii. tft'a lU LI j.i \jy IIU —I F •HL J M :r!j S a* o IL< K li F! i it i **aSfc •r I %ar auwwjA Mi -3 4 3~ 4 i
      500 words

  • Page 28 Advertisements
    • 1325 28 A Special Feature Brought To You By Citigold Private Client THE ECONOMY IN PERSPECTIVE Singapore stocks to shine, but risks remain After a year of underperformance, the spotlight could turn to the Singapore bourse in 2014. In this second feature of a three-part weekly series, Citi's expert offers his views
      1,325 words