The Business Times, 1 May 2014

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Total Pages: 38
1 40 The Business Times
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  • Title Section
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    18 1 THE BUSINESS TIMES www.businesstimes.com.sg THURSDAY, MAY 1, 2014 S$1.00 MCI (P) 085/08/2013 sp!l A SINGAPORE PRESS HOLDINGS PUBLICATION
    18 words
  • Article
    Lock icon Loans, better margins lift banks’ Q1 earnings
    874 1  -  Robust performance amid challenging fixed income markets drives stocks up By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore LOCAL banks had their stars aligned in the first quarter of this year, as higher loan volumes and improved margins pushed up earnings. Reporting the highest
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  • Article, Illustration
    Lock icon Resignations hit Keppel T&T ahead of Reit listing
    750 1  -  By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore SEVERAL senior resignations in recent weeks at Keppel Telecommunications and Transportation (Keppel T&T) and its data centre business could raise questions over its highly anticipated listing of the unit. The Business Times understands that Keppel T&T’s
    750 words
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      201 1 MAY DAY MESSAGE Economy maturing, so growth slower: PM 3 MARKETS April market cap up 3.8 per cent 7 PROPERTY Q1 retail rents for prime spots up 0.8% 40 US DATA Winter chills Q1 GDP growth 2 IWC PILOT. ENGINEERED FOR AVIATORS Spitfire Chronograph. Ref. 3878: Back in the days
      201 words
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  • TOP STORIES
    • Article, Illustration
      Lock icon Growth frozen as Q1 GDP grows just 0.1%
      580 2 Pullback comes as snow blankets country’s eastern half, hitting economic activity LATEST US DATA Bloomberg Washington THE US economy barely grew at all in the first quarter as harsh winter weather chilled investment and exports dropped. The stall occurred even as consumer
      Bloomberg; PHOTO: BLOOMBERG  -  580 words
    • MARKETS
      • Article
        Lock icon STOCKS
        59 2 GSTI 3,264.71 (+26.97) GSTI FUTURES 3,250.00 (+12.00) GSIMSCI 369.31 (+3.32) GSIMSCI FUTURES 368.40 (+2.70) Wednesday Change KL COMP 1,871.52 +12.18 NIKKEI 225 14,304.11 +15.88 HANG SENG 22,133.97 -319.92 SET 1,414.94 +2.61 JAKARTA 4,840.15 +20.46 MANILA 6,707.91 +71.46 KOSPI 1,961.79 -2.98 SHENZHEN B 828.57 +7.55 MUMBAI IND 22,417.80 -48.39 12
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.35 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 15.078 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.50 INDIA 14.75 Source: Bloomberg
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      • Article
        Lock icon FOREX
        49 2 US$ S$ US$ (S$ per US$) 1.256 (US$/S$ per 1.681 2.111 EURO (US$/S$/€ 1.381 1.734 Foreign currency per US$ S$ YEN 102.50 81.60 RM 3.265 2.600 HK$ 7.753 6.173 BAHT 32.35 25.75 RUPIAH 11,565 9,209 RENMINBI 6.260 4.984 INDIAN RUPEE 60.39 48.08 A$ 1.077 0.858 NZ$ 1.168 0.930
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    • Article
      Lock icon Economy maturing, so growth slower: PM
      535 3  -  ‘Only sustainable way’ to grow wages is to develop better workers and create better jobs By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore SINGAPORE’S official growth forecast of 2-4 per cent for this year is “typical of a maturing economy”, says Prime Minister Lee Hsien Loong.
      535 words
    • Article
      Lock icon Q1 unemployment edges up to 2.1%
      476 3  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE unemployment level in Singapore crept up in the first quarter of the year, although there were fewer retrenchments compared to the previous quarter. According to preliminary figures released by the Manpower Ministry (MOM) yesterday, the seasonally adjusted
      476 words
    • Article, Illustration
      Lock icon Line chats up Singapore with local office in Q3
      653 4  -  Localisation strategy includes more tie-ups with Singapore firms that have existing relationships with consumers By Joyce Hooi joyceh@sph.com.sg @JoyceHooiBT Singapore CHAT app Line is opening an office in Singapore, as part of an ambitious bid to be the primary messaging app
      BT Graphics; Source: Line Corporation  -  653 words
    • Article, Illustration
      Lock icon General commerce helps bank lending rise 0.6% in March
      472 4  -  By Kenneth Lim kenlim@sph.com.sg @KennethlimBT Singapore BANK lending in Singapore grew by a modest 0.6 per cent in March as financing for general commerce picked up the slack from building and construction. “Loans continue to moderate,” Bank of America Merrill Lynch
      FILE PHOTO  -  472 words
    • Article, Illustration
      Lock icon Some Asian bonds better than Western counterparts
      499 5  -  Asian high-grade credit also outshines equities on total returns basis By JAMIE LEE leejamie@sph.com.sg @JamieLeeBT Singapore SOME Asian bonds proved to be a better investment than similar bonds from the US and Europe in the first quarter given their higher spread, an Asifma
      BT Graphics Source: Dealogic, Asifma  -  499 words
    • Article, Illustration
      Lock icon China set to overtake US as world’s biggest economy
      492 5 Beijing CHINA is poised to overtake the United States as the world’s biggest economy, while India has vaulted into third place, ahead of Japan, data using calculations that take purchasing power parity into account show. The International Comparison Program (ICP), hosted
      PHOTO: AFP  -  492 words
    • Article
      Lock icon Improving global economy boosts sentiment
      697 6  -  Govt surveys find businesses in both manufacturing and services sectors have turned more optimistic for April-Sept By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT Singapore BUSINESSES across both the manufacturing and services sectors have turned more optimistic, as better global economic conditions boost the prospects of firms
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    • Article, Illustration
      Lock icon Twitter stock plunges on slowing user growth
      611 6 Bloomberg San Francisco TWITTER Inc’s slowing user growth has pushed the stock to the lowest since last year’s market debut. The company said on Tuesday that membership in the first quarter reached 255 million, with growth decelerating to 25 per cent from 30
      Bloomberg; PHOTO: BLOOMBERG  -  611 words
    • Article
      Lock icon S’pore market cap grows 3.8% in April
      822 7  -  Large caps lead rise to $950.7 billion, market’s highest value since May last year By Raphael Lim raphlim@sph.com.sg THE total market capitalisation of the Singapore stock market rose 3.8 per cent month-on-month to close at $950.7 billion yesterday, its highest since May last
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      32 2 CONTENTS NEWS Top Stories 2-7 Companies 8-12 Singapore 13-14 World 16-25 Aviation 26 Crosswords 26 Shipping News 27 Shipping Times 28-29 Perspective 30-31 Stocks Stats 32-36 Househunt 37 Property 37-40 PAGE 8
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      63 6 HOT PROPERTY 5 Ti MR?! Poon°evvi K 4 MBANGAN 3-bdrmn°Z'7 cedingVACANZA fast 2/3bdrm EAST 1/1+1/ £SS b f. Can be $2.3k up. s? E Nea™ rt/ 1 bdrm 721 f °od. F/furn 7 p dn, eni fe/ Immed. Po Vlevv APARTMENT FOR RENT Check this and many other properties in
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      33 7 Need a room flat? y I T If you're looking to buy or rent an HDB apartment, turn to the Print Classified Properties section. To advertise, call the Print Classified Hotline: 1800-289 9988.
      33 words
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      Lock icon Page 7 Advertisements Column 2
      128 7 KATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices GUTHRIE-SV (RETAIL) PTE. LTD. (In Members' Voluntary Liquidation) (Company Registration Number: *****5436D) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308(1) of the Companies Act, Cap. 50, that the Final General Meeting of the Members of Guthrie-SV (Retail)
      128 words
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      120 7 GUTHRIE-SV (COMMERCIAL) PTE. LTD. (In Members' Voluntary Liquidation) (Company Registration Number: *****5431H) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308(1) of the Companies Act, Cap. 50, that the Final General Meeting of the Members of Guthrie-SV (Commercial) Pte. Ltd. will be held at the Registered
      120 words
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  • COMPANIES
    • Article, Illustration
      Lock icon DBS Q1 earnings up 30% at $1.23b
      536 8  -  Excluding one-time items, core net profit rises 9% to record $1 .03b, beating expectations BANK EARNINGS By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore DBS Group Holdings yesterday posted better-than-expected firstquarter earnings, with core net profit up 9 per cent at a record $1.03
      PHOTO: REUTERS  -  536 words
    • Article
      Lock icon UOB posts 9.2% rise in Q1 profit
      426 8  -  By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore IT WAS a decent start to the year for United Overseas Bank (UOB) with first-quarter net profit up 9.2 per cent at $788 million from a year ago. The January-March results, which beat estimates of $742 million
      426 words
    • Article
      Lock icon OCBC reports 29% profit rise for Q1; pins China hopes on Wing Hang
      536 8  -  By Jamie Lee leejamie@sph.com.sg @JamieleeBT Singapore OCBC’s proposed $6.2 billion acquisition of Wing Hang Bank could help the bank cut through some red tape in setting up more branches in China, thanks to a free trade pact
      536 words
    • Article
      Lock icon SMRT swings back to $16.9m profit in Q4
      481 9  -  Non-fare business improves, bus operation losses shrink By Samuel Ee samuelee@sph.com.sg Singapore SMRT Corp trundled to a $16.9 million net profit for the fourth quarter ended March 31, 2014, from a $12 million loss for the same period a year ago, thanks
      481 words
    • Article
      Lock icon IndoAgri’s Q1 net profit rises 70% to 182b rupiah
      505 9  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore A RECOVERY in agri-commodity prices and foreign currency gains pushed Indofood Agri Resources’ net profit 70 per cent higher in the first quarter. Its net profit rose to 182 billion rupiah (S$20 million), up from
      505 words
    • Article
      Lock icon Lack of big-name IPOs, penny stock crash hurt SGX
      656 9 AFP Singapore A DEARTH of big-name share listings of overseas firms and a multi-billion-dollar penny-stock crash have hampered the growth ambitions of Singapore’s stock exchange as Asian rivals flourish, analysts said. Singapore Exchange Limited (SGX), the sole stock market operator in
      AFP  -  656 words
    • Article
      Lock icon Mapletree in serviced apartment venture
      480 10  -  Tie-up with Oakwood aims to open 1 00 new properties over 5 years By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore MAPLETREE Group has struck a deal for a corporate and serviced apartment joint venture that aims to open more than 100 new properties around the world
      480 words
    • Article
      Lock icon Fragrance Q1 net jumps 38% to $24.3 million
      385 10  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore FRAGRANCE Group has reported a near 38 per cent jump year-on-year in first-quarter net profit to $24.26 million. Revenue for the three months ended March 31 edged up about 13 per cent to $125.27 million. Fragrance
      385 words
    • Article
      Lock icon Soilbuild’s Q1 net climbs 4% to $3.9m
      287 10  -  By Mindy Tan tan m i n dy@s p h .co m .sg @MindyTanBT Singapore SOILBUILD Construction Group’s net profit for the first quarter ended March rose 4 per cent to $3.9 million. Meanwhile, revenue rose 28 per cent from $68.1 million a
      287 words
    • Article
      Lock icon Yangzijiang’s Q1 profit up 11% at 799.2m yuan
      295 10  -  By Mindy Tan tan m i n dy@s p h .co m .sg @MindyTanBT Singapore YANGZIJIANG Shipbuilding’s first-quarter net profit rose 11 per cent to 799.2 million yuan from 717.2 million yuan a year ago. This was on the back of revenue
      295 words
    • Article, Illustration
      Lock icon Banks propel STI 26.97 points higher
      735 11  -  STOCKS R Sivanithy sivan@sph.com.sg @RSivanithyBT Senior Correspondent A PUSH on the banks yesterday after OCBC and DBS announced bet-ter-than-expected results enabled the Straits Times Index to register a 26.97-point gain to 3,264,71 after it had lost a total of 30 points over the first
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    • Article
      Lock icon Creative narrows net loss in Q3
      349 11  -  BY Carine Lee carine|@sph.com.sg @CarineLeeBT Singapore CREATIVE Technology narrowed its loss in the fiscal third quarter ended March 31, 2014, despite a lower turnover. The homegrown technology group yesterday reported a net loss of US$8.76 million, compared to a loss of US$10.45 million a
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    • Article
      Lock icon TOP 20 ACTIVES
      202 11 VOL CLOSE Transcu Grp 109,675 0 2 0 0 0.0 Cacola 85,1 1 7 3 0 5 20.0 Art i v i sion Tech 64,122 4 9 0 3 5.8 Amp l ef i e l d R 62,799 0 1 0 1 50.0 HanKore Env 57,275
      202 words
    • Article
      Lock icon STI STOCKS
      117 11 Stock name Close Change CapitaLand 3.200 CapitaMall Trust 1.995 +0.025 CapitaMalls Asia 2.210 CityDev 10.83 -0.240 ComfortDelGro 2.120 DBS Grp 16.94 +0.100 Genting Sing 1.325 -0.005 Global Logistic 2.850 +0.070 Golden Agri-Res 0.610 +0.010 HPH Trust USD 0.680 HongkongLand USD 7.000 +0.050 JMH 400 USD 62.30 +0.860 JSH
      117 words
    • Article
      Lock icon TOP GAINERS
      61 11 BY CENTS CLOSE UP Lyxor Indonesia10US$ 8779 138.1 1.3 JMH 400 USD 6230 108.0 1.4 DBXT AUDCS 5SG$ ***** 97.0 0.4 DBXT AUDCS 5US$ ***** 91.7 0.4 Lyxor ThaiSET 10US$ ***** 66.5 0.4 UOB 2176 58.0 2.7 Jardine C&C 4691 37.0 0.8 DBXT iBoxxUSTr 5US$ ***** 36.4 0.1
      61 words
    • Article
      Lock icon TOP LOSERS
      63 11 BY CENTS CLOSEDOWN DBXT Nifty 10US$ ***** -134.3 -0.9 DBXT EONIA 5US$ ***** -131.8 -0.5 DBXT iBoxxSvEu 5US$ ***** -77.8 -0.2 UOB.ES.1405 2181 -77.0 -3.4 Lyxor AsiaIT 10US$ 3533 -74.1 -1.6 DBXT MSKorea 10US$ 6249 -62.8 -0.8 DBXT iBoxxKR 5US$ ***** -57.8 -0.3 JSH 500 USD 3570 -50.2
      63 words
    • Article
      Lock icon Cosco Corp’s Q1 profit up 30%
      149 11 Reuters Singapore COSCO Corporation (Singapore) Ltd said yesterday that its firstquarter net profit jumped 30 per cent from a year earlier to $12.6 million, the highest in more than a year. The shipbuilder, controlled by Chinese state-owned conglomerate China Ocean Shipping (Group) Company (Cosco),
      Reuters  -  149 words
    • Article, Illustration
      Lock icon Hedge-fund startups adapt to MAS rules
      1301 12 To cut costs, they turn to licensed platforms that provide office space and services to meet compliance requirements Bloomberg Singapore WHEN Gaurav Bansal’s lawyers told him about Singapore’s tightened hedge-fund rules introduced in August 2012, he faced the prospect of spiralling costs to meet
      Bloomberg; PHOTO: BLOOMBERG  -  1,301 words
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      28 11 Blow your own trumpet Buy new musical instruments or put up your old ones for sale in CLASS 72 To advertise, call the Print Classified Hotline: 1800-289 9988
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  • SINGAPORE
    • Article, Illustration
      Lock icon S’poreans upbeat about finances
      436 13  -  Q1 consumer confidence at highest in 1 0 successive quarters, according to Nielsen index By Lisabelle Tan lisatan@sph.com.sg CONSUMER confidence in Singapore is at its highest level in 10 consecutive quarters, with people remaining upbeat about personal finances and being more willing to spend. According to
      Source: Nielsen Global Survey of Consumer Confidence and Spending Intentions, Q1 2014  -  436 words
    • Article, Illustration
      Lock icon Sports Hub unveils official insurance partner
      367 13  -  By Jaira Koh jairakoh@sph.com.sg GREAT Eastern has been unveiled as the official insurance partner for the Singapore Sports Hub. Great Eastern disclosed neither the scale of its financial commitment nor its duration, but its brand will be found in various parts of the Sports
      367 words
    • Article
      Lock icon SIA, STB to woo visitors from key markets
      345 13  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT SINGAPORE Airlines (SIA) and the Singapore Tourism Board (STB) are joining hands in a partnership aimed at attracting more visitors from key source markets to Singapore. A total of $4 million will be invested in joint marketing
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    • Article, Illustration
      Lock icon NTU launches $20m EcoCampus initiative
      381 14  -  It will partner EDB, JTC and various firms to cut its energy, water usage by 35% by 2020 By Raphael Lim raphlim@sph.com.sg NANYANG Technological University (NTU) launched a new joint initiative yesterday to reduce its energy and water consumption by 35 per cent by 2020.
      381 words
    • Article, Illustration
      Lock icon Better terms for pre-school teachers
      443 14  -  By Kara Quek karaquek@sph.com.sg AMID the ongoing manpower crunch in the pre-school sector, PAP Community Foundation (PCF) and NTUC First Campus (NFC) announced initiatives to make a career in early childhood care more appealing, through improving career progression opportunities and competitive salaries. The two organisations
      FILE PHOTO  -  443 words
    • Article
      Lock icon NTU is 5th in Times’ young university list
      312 14  -  By Lisabelle Tan lisatan@sph.com.sg NANYANG Technological University (NTU) has leapt to fifth place in the Times Higher Education Top 100 Under-50 survey, from eighth last year and 16th in 2012. The survey, now in its third year, ranks universities worldwide that are
      312 words
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      279 15 SAMSUNG NEW 12:45, v J Available in Black and White Subscribe* now to The Straits Times All-in-One PLUS package for 36 months and receive the new Samsung GALAXY Tab PRO (8.4" Display) LTE only $47.49 /month Available only to DBS and POSB Credit Card holders Samsung GALAXY PRO" Biff**' FREE
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  • WORLD
    • Article, Illustration
      Lock icon S&P cuts outlooks for 15 European banks
      413 16 Outlooks lowered from stable to negative on prospect that governments are less likely to provide aid Bloomberg New York DEUTSCHE Bank, Germany’s largest lender, was among 15 European banks that had their outlooks cut to negative by Standard Poor’s on the prospect that
      Bloomberg; PHOTOS: BLOOMBERG  -  413 words
    • Article
      Lock icon Public Bank shares ease on rights issue
      464 16  -  By S Jayasankaran btworld@sph.com.sg Kuala Lumpur PUBLIC Bank shares eased 0.7 per cent to RM20.02 yesterday after Malaysia’s third largest lender said that it would undertake a rights issue to raise up to RM5 billion (S$1.9 billion) as part of its capital management
      464 words
    • Article, Illustration
      Lock icon Brunei starts enforcing Syariah criminal law
      528 18 It is the latest example of a deepening religious conservatism that has also taken root in parts of M’sia and Indonesia Reuters AFP Kuala Lumpur THE sultanate of Brunei has announced that it would start enforcing Islamic criminal law from today, the latest example
      Reuters; AFP; PHOTO: AFP  -  528 words
    • Article
      Lock icon EU firms boosting China’s military rise
      575 18 AFP Beijing AS China boosts its military spending, rattling neighbours over territorial disputes at sea, an AFP investigation shows that European countries have approved billions in transfers of weapons and military-ready technology to the Asian giant. China’s air force relies on French-designed helicopters, while
      AFP  -  575 words
    • Article, Illustration
      Lock icon Computer error hits 2 US options exchanges
      641 19 20,000 erroneous trades on NYSE Amex Options, NYSE Arca later cancelled Bloomberg New York A COMPUTER malfunction at Intercontinental Exchange Group Inc’s two US options exchanges on Tuesday caused almost 20,000 erroneous trades that were later cancelled. On the NYSE Amex Options market,
      Bloomberg; PHOTO: BLOOMBERG  -  641 words
    • Article
      Lock icon Khazanah mulling over US$1b exchangeable sukuk
      346 19 Bloomberg Kuala Lumpur KHAZANAH Nasional, Malaysia’s sovereign wealth fund, is considering selling as much as US$1 billion of dollar-denominat-ed exchangeable Islamic bonds, said four people with knowledge of the deal. The state-owned entity, which was the first in the Syari-ah-compliant industry to sell such
      Bloomberg  -  346 words
    • Article
      Lock icon Silver fix poser with 2 banks left
      582 19 Reuters New York DEUTSCHE Bank’s exit from the London precious metal fixes will leave just two banks running a century-old system that sets the global silver price and is likely to stir the debate about regulation of one of the most volatile commodity
      Reuters  -  582 words
    • Article, Illustration
      Lock icon China pushes for rival Asia-Pacific trade deal
      516 20 Working group proposed to study feasibility of an FTAAP AFP Beijing CHINA is pressing for a vast Asia-Pacific free trade agreement, a senior official said here yesterday, as a rival US-led deal that excludes the Asian giant runs into snags. Wang Shouwen, an
      AFP; PHOTO: AFP  -  516 words
    • Article
      Lock icon Rolls-Royce in talks to sell power assets
      588 20 Bloomberg London ROLLS-ROYCE Holdings Group said that it’s in talks to sell power-genera-tion assets to Siemens, adding to a flurry of possible cross-border deals as some of Europe’s largest engineering companies reshape their portfolios. The planned disposal concerns the energy gas turbine and
      Bloomberg  -  588 words
    • Article
      Lock icon BOJ keeps base money target unchanged
      633 21 Kuroda expected to remind markets that the central bank is ready to ease policy further if necessary Reuters Tokyo THE Bank of Japan (BOJ) kept monetary policy steady yesterday and is set to lay out projections underscoring its conviction that inflation will head steadily
      Reuters  -  633 words
    • Article
      Lock icon China pork giant WH Group pulls HK listing
      469 21 Reuters Hong Kong CHINA’S WH Group Ltd, the world’s biggest pork company, has cancelled its planned Hong Kong initial public offering (IPO) as a downturn in equity markets weighed further on demand even after it cut the offer size by twothirds. The
      Reuters  -  469 words
    • Article, Illustration
      Lock icon The candidate who’s lost 158 times
      583 21 AFP New Delhi INDIAN shop owner K Padmarajan doesn’t feel like a loser. In fact, he sees much to celebrate in the 158 times he has stood for public office and failed. Starting out in 1988, he had a point to prove to those
      AFP; PHOTO: AFP/ K PADMARAJAN  -  583 words
    • Article
      Lock icon EU moves to end smartphone patent wars
      489 22 To foster competition, it tells Motorola Mobility, Samsung to stop filing aggressive lawsuits against rivals Reuters Brussels THE European Union’s antitrust enforcer has told two top smartphone makers to stop filing aggressive patent lawsuits against rivals such as Apple, aiming to end a
      Reuters  -  489 words
    • Article, Illustration
      Lock icon Wimbledon hopes to raise £100m from US market for expansion, upgrade
      498 22 Bloomberg London THE Wimbledon tennis tournament is targeting the United States market to help pay for a £100 million (S$211 million) expansion of its grounds including a roof over its second-largest show court. The All England Club, which organises
      Bloomberg; PHOTO: BLOOMBERG  -  498 words
    • Article, Illustration
      Lock icon Tax avoidance behind big US deals in Europe
      619 23 US firms’ huge offshore cash piles fuel acquisitions by giants such as GE and Pfizer AFP Washington GENERAL Electric (GE) wants to buy France’s Alstom; Pfizer is chasing Britain’s AstraZeneca US companies are looking hungrily at European rivals. But the reason is
      AFP; PHOTO: BLOOMBERG  -  619 words
    • Article, Illustration
      Lock icon Top income earners taking too much: OECD
      648 24 They have grown disproportionately richer and should pay their fair share of taxes AFP Paris PEOPLE with the highest incomes in advanced countries have grown disproportionately richer despite the global financial crisis and should pay their fair share of the tax burden, the
      AFP; PHOTO: AFP  -  648 words
    • Briefing
      • Article
        Lock icon Agreement to hold Thai elections on July 20
        101 24 Bloomberg Bangkok Thailand’s government, operating for months as a caretaker with limited powers amid political unrest, yesterday reached an agreement with the Election Commission to hold new general elections on July 20. Election Commissioner Puchong Nutrawong said the commission will draft a
        Bloomberg  -  101 words
      • Article
        Lock icon China to boost support for trade sector
        105 24 Reuters Beijing China will step up support for the trade sector, including quickening the pace of tax rebate payment for exporters, Premier Li Keqiang said yesterday, as part of policy measures to support a slowing economy. Mr Li told a regular Cabinet meeting
        Reuters  -  105 words
      • Article
        Lock icon Indonesia to keep tight monetary policy
        103 24 Reuters Jakarta Indonesia’s central bank governor yesterday said he will maintain a tight monetary policy for the rest of the year, despite improving trade and inflation data in the first quarter. Governor Agus Martowardojo said he expected a trade surplus of above US$800 mil-
        Reuters  -  103 words
      • Article
        Lock icon Abe urges progress in Japan-EU trade talks
        103 24 AFP Berlin Japanese Prime Minister Shinzo Abe yesterday called for swift progress in talks with the European Union to nail a free-trade pact, in an address to German business leaders. He made the comments at an industry forum in the German capital, kicking
        AFP  -  103 words
      • Article
        Lock icon European court casts aside UK tax challenge
        107 24 Reuters Brussels Britain’s legal challenge to a financial transactions tax was rejected by Europe’s highest court yesterday, dealing another blow to attempts to shield London’s financial centre from the influence of Brussels. The ruling throws out the legal action intended to prevent a
        Reuters  -  107 words
    • Article, Illustration
      Lock icon Eurozone inflation rises 0.7% in April
      652 25 Increase lessens chances that ECB will act soon to ward off deflation Reuters Brussels EUROZONE inflation rose in April, reducing chances that the European Central Bank (ECB) will act soon to ward off deflation, but the pace of price rises was below forecast and
      Reuters; PHOTO: REUTERS  -  652 words
    • Article
      Lock icon Civil servant ‘fat’ built up during Aussie mining boom faces cutback
      505 25 WP Sydney TWICE as many civil servants than mining workers were hired in Australia’s 10-year resources boom, enlarging the bureaucracy and inflating public spending. Cutting back is now a priority for a government seeking budget savings. In the 10
      WP  -  505 words
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      354 17 STPROPERPi FORUM REAL ESTATE OPPORTUNITIES SE UP TO THE CHALLENGES IN THE NGAPORE PROPERTY MARKE Real Estate Professionals, earn Core Non CPD Credit Hours* /hen you attend this r\ i 1 Hurry now With the implementation of seven rounds of cooling measures in Singapore, industry professionals and investors are grappling
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      50 18 MAY ISSUE OUT NOW! Breakfast with >>> MAY 31, 2014 (SATURDAY) Learn the type of tyres that suits your motoring needs from Goodyear experts! FREE Goodyear handheld vacuum for every participant! +WIN A set of Assurance TripleMax tyres from Goodyear and many more at the event! SIGN UP NOW AT
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  • Page 23 Advertisements
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      Lock icon Page 23 Advertisements Column 1
      350 23 May The Best Employee Win: Achieving Your Full Potential, Who should attend: Human resource, communications, marketing, talent retention, sales; managers, supervisors, team leaders, department heads, executives, business owners, and anyone who wishes to grow a successful career. 2014 MAY SERIES FULL-DAY WORKSHOPS Supervising and Motivating Gen X and Y Staff
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  • Page 24 Advertisements
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      Lock icon Page 24 Advertisements Column 1
      22 24 Five suggestions to help businesses deal with the Personal Data Protection Act Protection Act To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • Page 25 Advertisements
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      Lock icon Page 25 Advertisements Column 1
      34 25 CHETTIARS: SINGAPORE’S FIRST ‘VENTURE CAPITALISTS’ TABLA! SPEAKS TO FIVE INDIANS HERE WHO OPEN UP THEIR HOMES TO STRANGERS GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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  • AVIATION
    • Article
      Lock icon Cathay Pacific to operate out of T4
      505 26  -  Its passengers will be able to use the full-service carrier’s dedicated premium lounge at the new terminal By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore HONG KONG’S Cathay Pacific is the first airline to confirm that it will operate out of Changi Airport’s upcoming Terminal
      505 words
    • Article, Illustration
      Lock icon M’sia’s new budget terminal begins operations tomorrow
      527 26 AFP Sepang MALAYSIA this week opens what it calls the world’s largest airport built specifically for low-cost airlines, a project driven by budget travel’s phenomenal growth but which debuts under the shadow of missing Malaysia Airlines flight MH370. The US$1.2 billion facility near
      AFP; PHOTO: AFP  -  527 words
  • Page 26 Miscellaneous
    • Miscellaneous
      Lock icon Page 26 Miscellaneous Column 1
      357 26 CRYPTIC CROSSWORD Across 1 Where the icing on the cake may be too much (4,3,3) 6 Cast-iron case for prison (4) 10 Caught Gaelic as spoken word crude language (5) 11 End gossip about obesity (9) 12 Pay attention entry gate ahead! (4,4) 13 Point out the similarity of so-called
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  • SHIPPING
    • Article, Illustration
      Lock icon Not in our cruise-ship-hub backyard
      944 27 Cruise line, civic activist oppose Beckham’s proposal to build football stadium near port of Miami Bloomberg Tallahassee, Florida TEN acres of dirt, concrete and warehouse space at the port of Miami have turned Royal Caribbean Cruises Ltd and billionaire car dealer Norman Braman against soccer
      Bloomberg; PHOTO: AFP  -  944 words
    • Article
      Lock icon Warnings over Korean ferry ignored, finds probe
      508 27 AFP Seoul A PROBE into South Korea’s ferry disaster has heard that warnings over the ship’s seaworthiness were ignored, prosecutors said yesterday, as rescuers worked to recover more than 90 people still missing two weeks after it sank. The confirmed death toll from
      AFP  -  508 words
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  • Article
    Lock icon SHIPPING TIMES
    1214 28 WALLENIUS WILHELMSEN LOGISTICS Tel: (65) 6379 5066 Fax: (65) 6379 5106 Email: 2wsinenq@2wglobal.com website: http://www.2wglobal.com AUSTRALIA NEW ZEALAND TO ASIA VESSEL VOY AKL BNE PKL MEL FRE SIN TAMERLANE FF416 16/04 20/04 23/04 25/04 30/04 06/05 TYSLA FF417 30/04 04/05 06/05 08/05 13/05 19/05 TALISMAN FF420 18/05 22/05
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon America’s TPP: Let the buyer beware
      1074 30 / 31  -  The rosiest projections say it’ll raise incomes among treaty parties by a mere 0.3% of GDP in 2025, but they will have to take on big risks. By Kevin P Gallagher By Kevin P Gallagher ~The writer is a professor of international relations at
      PHOTO: BLOOMBERG  -  1,074 words
    • Article, Illustration
      Lock icon Think before you fly
      1086 30 / 31  -  By Mark Dixon ~The writer is CEO of Regus O YOU remember when air travel was a pleasure and a privilege? No? Well, to be honest, nor do I, although I remember growing up to think that flying was glamorous and exciting. There certainly was a
      PHOTO: BLOOMBERG  -  1,086 words
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  • SGX
    • Article
      Lock icon SGX MAINBOARD
      8221 32 Transaction date: Apr 30 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 13.6 10.4 8Telecom 12.4xd 11.3 12.3 6.3 1 16.1 59.4 20 3.3 A-Sonic Aero 10.2 -0.1 1003 10.4 10.2 10.2 10.4
      8,221 words
    • Article
      Lock icon SGX CATALIST
      1949 35 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 35 22 t 3Cnergy 500 30.5 30.5 35 30 28.5 19 t 800 Super 26 +1 49 26 25 24.5 26 3.2 3.8 8.1 46.5
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 35 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 7 4 0 0 0 4 7 4 Manufacturing 44 58 39 7 5 10 51 63 49 Commerce 18 17 26 1 6 4 19 23 30 Tpt/Stor/Comms 18 10 11
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      777 35 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Apr 28 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Albedo 28-Apr-14 Lim Soon Fang Sell ***** 0.01 *****6 6.26 ***** 4.14 Civmec 28-Apr-14 Michael Lorrain Vaz
      777 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      119 35 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 24,390 24,390 102,918 102,918 Manufacturing 386,854 58,744 445,598 152,142 13,828 165,970 Commerce 119,942 76,380 196,322 139,718 4,635 144,354 Tpt/Stor/Comms 121,286 951 122,237 236,122 105 236,227 Finance 39,249 552 39,801 441,418 197 441,615 Construction 26,446 30,820
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  • MARKETS
    • Article
      Lock icon LIFFE
      93 36 Apr 29 COCOA (£/tonne) Close Prev High Low May 14 1831 1834 1844 1828 Jul 14 1841 1844 1854 1838 Sep 14 1844 1848 1858 1842 Dec 14 1840 1843 1854 1839 COFFEE(US$/tonne) Close Prev High Low May 14 2130 2120 2133 2105 Jul14 2139 2126 2142 2105 Sep
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    • Article
      Lock icon METALS
      66 36 Apr 30 GOLD(US$/oz) Apr 30 Apr 29 Hong Kong 1292.00 1296.00 Apr 29 Apr 28 London 1298.95 1294.11 1299.75 1294.88 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 24.77 24.00 Source: UOB PLATINUM Lon (US$/oz) Apr 29 Close Previous PM Fix 1424.00 1428.00 AM Fix 1414.00 1428.00 Source:
      66 words
    • Article
      Lock icon PALM OIL
      57 36 Apr 30 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 14 2719.0 2691.0 2722.0 2658.0 987 3559 Jun 14 2650.0 2640.0 2660.0 2631.0 4040 ***** Jul 14 2631.0 2623.0 2647.0 2615.0 ***** ***** Aug 14 2628.0 2616.0
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    • Article
      Lock icon GOVERNMENT SECURITIES
      80 36 Apr 30 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 1-Year BY*****S 02-May-15 0.35 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0W 1.13 01-Apr-16 101.3 101.35 101.34 5-Year NX*****W 2.5 01-Jun-19 105.11 105.17 105.10 10-Year NX*****H 2.750 01-Jul-23
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 36 Apr 30 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1656 1.1666 0.9284 0.9286 Canadian dollar 1.1461 1.1474 0.9133 0.9128 Euro 1.7332 1.7346 1.3805 1.3807 NZ dollar 1.0746 1.0756 0.8559 0.8562 Sterling pound 2.1105 2.1121 1.6810 1.6812
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      118 36 Apr 30 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.190 1.134 Can dollar 1.168 1.124 Euro 1.775 1.691 Sterling pound 2.152 2.070 NZ dollar 1.099 1.057 US dollar 1.282 1.221 Local dollars to 100 units of foreign currency: Currencies Sell
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    • Article
      Lock icon CHICAGO BOT
      104 36 Apr 29 SOYBEANS(5,000 bu min; USc/60 lb bushels) Close Previous High/Low May 14 1524.00 1508.25 1527.50 1503.75 Jul 14 1517.25 1500.00 1520.50 1494.00 Aug 14 1443.00 1426.50 1445.50 1422.00 Sep 14 1313.00 1301.25 1313.50 1297.50 SOYBEAN OIL(60,000 lbs; USc/lb) Close Previous High/Low May 14 42.77 42.62 42.89 42.46
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    • STOCK MARKETS
      • Article, Illustration
        Lock icon Straits Times Index
        20 36 YTD change: +3.07% 52-week high: 3,464.79 on May 22,2013 52-week low: 2,953.01 on Feb 4,2014 Source: Bloomberg
        Source: Bloomberg  -  20 words
      • Article, Illustration
        Lock icon Hang Seng Index
        20 36 YTD change: -5.03% 52-week high: 24,111.55 on Dec 2,2013 52-week low: 19,426.36 on June 25,2013 Source: Bloomberg
        Source: Bloomberg  -  20 words
      • Article, Illustration
        Lock icon Shanghai Stock Exchange Composite
        21 36 YTD change: -4.24% 52-week high: 2,334.33 on May 29,2013 52-week low: 1,849.65 on June 25,2013 Source: Bloomberg
        Source: Bloomberg  -  21 words
      • Article, Illustration
        Lock icon Nikkei 225
        19 36 YTD change:-12.20% 52-week high: 16,320.22 on Dec 30, 2013 52-week low: 12,415.85 on June 13,2013 Source: Bloomberg
        Source: Bloomberg  -  19 words
      • Article, Illustration
        Lock icon Dow Jones Industrial Average
        27 36 YTD change: -0.25% 52-week high: 16,631.63 on April 4, 2014 52-week low: 14,551.27 on June 24,2013 (Chart shows Tuesday’s index closing) Source: Bloomberg
        Source: Bloomberg  -  27 words
    • Article
      Lock icon OIL
      68 36 Apr 29 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 109.33 0.64 WTI (Near Mth) 101.08 0.17 Dubai (1-Mth F) 104.91 -1.15 Tapis blend 112.69 -0.74 Minas 111.39 -0.74 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 105.00 -1.17 Jet Kerosene 120.78 -1.20 US$/barrel OpecOil Basket Price 104.95
      68 words
    • Article
      Lock icon LONDON METALS
      72 36 Apr 29 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1771.00 1787.75 3 months 1813.00 1829.00 Copper, Grade A (US$/tonne) Cash 6731.00 6765.75 3 months 6715.00 6745.50 Lead (US$/tonne) Cash 2085.25 2112.75 3 months 2110.00 2136.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT’L INDICES
      373 36 In local curr In S$ In US$ dy yr dy yr dy yr Apr 29 Index Change Change Change Change Change Change World Preliminary 1194.6 0.6 0.9 0.5 0.7 0.6 1.3 EAFE Preliminary 951.6 0.7 -0.5 0.5 0.2 0.6 0.8 Europe Preliminary 1389.6 1.1 2.6
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  • PROPERTY
    • Article
      Lock icon Househunt
      1001 37 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN MARCH 19 AND MARCH 25, 2014 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED The Sail Marina Bay Apt 24/03/2014 99 614 1520 2477 The Sail Marina Bay
      1,001 words
    • Article, Illustration
      Lock icon Elderly suffering in NYC housing crisis
      1628 38 / 39  -  The US city has fewer market-rate housing options for older people than other major metropolitan areas. By Mireya Navarro and Vivian Yee By Mireya Navarro, Vivian Yee NYT New York UBIA Chavez and Manuel Acuña have been bouncing from rental to rental around New
      NYT; PHOTO: RUTH FREMSON/THE NEW YORK TIMES  -  1,628 words
    • Article, Illustration
      Lock icon Top bid for Potong Pasir plot seen at $650-900 psf ppr
      749 38 / 39  -  Commercial use capped at 5,000 sq m, or 8.8% of project’s maximum GFA By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT A COMMERCIAL and residential site next to Potong Pasir MRT Station launched for sale on the confirmed list of the Government
      BT Graphics: Jennifer Chua, Source: HDB, URA  -  749 words
    • Article, Illustration
      Lock icon First-quarter retail rents for prime spots edge up 0.8%
      663 40  -  Knight Frank report sees such spaces commanding 3-5% rise by the year-end By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT RETAIL rents of prime spaces islandwide inched up 0.8 per cent in the first quarter from the previous period, led mainly by higher rents
      663 words
    • Article, Illustration
      Lock icon Preview for Sungei Ulu Pandan project today
      251 40  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT WATERFRONT@FABER, which is located on the banks of Sungei Ulu Pandan, will open its doors for preview today. Indicative prices of units are set to start from $863,000 for a two-bedroom dual key unit which, according to marketing
      251 words
    • Article
      Lock icon Lend Lease gets 2 more tenants for A$6b devt
      365 40 Bloomberg Sydney LEND Lease Group, Australia’s biggest listed property developer, will start building the third office tower at its A$6 billion (S$7 billion) Sydney harbourfront development after signing PricewaterhouseCoopers LLP and HSBC Holdings plc as tenants. PwC’s Australian unit agreed to
      Bloomberg  -  365 words
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