The Business Times, 26 May 2014
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2014-05-26
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The Business Times
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Title Section25 2014-05-26 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Monday, May 26, 201425 words
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Article, Illustration849 2014-05-26 1 VIKRAM KHANNA - As an essential complement to monetary policy, they contained market bubble: MAS By VIKRAM KHANNA vikram@sph.com.sg [SINGAPORE] The property cooling measures adopted by Singapore from 2009-13 –known to economists as “macroprudential measures” were an essential complement to monetary policy and have succeeded in containingPHOTO: BLOOMBERG - 849 words
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MARKETS DIGEST
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Article57 2014-05-26 1 Weekly Change ST INDEX 3,278.02 +15.43 KL COMP 1,869.22 -14.12 NIKKEI 225 14,462.17 +365.58 HANG SENG 22,965.86 +252.95 SET INDEX 1,396.84 -8.42 JAKARTA COMP 4,973.06 -58.51 MANILA COMP 6,811.33 -6.38 SEOUL COMP 2,017.17 +3.73 SHENZHEN B 820.45 +4.30 MUMBAI IND 24,693.35 +571.61 DOW 16,606.27 +114.96 NASDAQ 4,185.81 +95.22 S&P57 words
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Article20 2014-05-26 1 SINGAPORE MALAYSIA MALAYSIA 5.35 6.55 5.00 INDONESIA 15.180 KOREA 5.036 JAPAN 1.475 KOREA 9.33 INDIA 0.50 Source: Bloomberg20 words
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Article49 2014-05-26 1 US$ S$ US$ (S$ per US$) 1.253 (US$/S$ per 1.685 2.111 EURO (US$/S$/€ 1.363 1.708 Foreign currency per US$ S$ YEN 101.70 81.20 RM 3.209 2.562 HK$ 7.754 6.190 BAHT 32.57 26.00 RUPIAH 11,575 9,240 RENMINBI 6.238 4.979 INDIAN RUPEE 58.51 47.70 A$ 1.083 0.864 NZ$ 1.169 0.93349 words
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Article, Illustration605 2014-05-26 1 King to endorse Prayuth as leader of the military council Bloom berg Reuters [BANGKOK] Thailand’s junta met the head of the central bank, the stock exchange and other economic officials to discuss measures to safeguard growth in South-east Asia’s sec-ond-biggest economy, three daysBloomberg; Reuters; PHOTO: REUTERS - 605 words
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Page 1 Advertisements
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Advertisement113 2014-05-26 1 DINING OUT Hawker fare gets upscale touch PAGE 20 FRANCE Zero-growth country woos foreign investment PAGE 2 BOARDROOM MATTERS Back to the future of quarterly reporting PAGE 4 TOPLINE Frasers Centrepoint: an eye on growing its landbank PAGE 4 BT WEBSITES For breaking news, go to businesstimes.com.sg. For personal finance113 words
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TOP STORIES
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Article, Illustration1385 2014-05-26 2 CA| HAOXIANG - But bloated public sector, restrictive labour laws stifling growth of economy Repor_ts by’ _CA| HAOXIANG haoxiang@sph.com.sg @Hao><iangCaiBT [SINGAPORE] France, the fifth largest economy in the world, is beset by structural issues of a bloated public sector and restrictive labour laws that stifle economic growth. ButBT Graphics; Source: OECD - 1,385 words
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Article, Illustration874 2014-05-26 2 It’s just a bar above which overtime or leave can be claimed [SINGAPORE] A Citadines serviced apartment housekeeper in France at The Ascott Ltd, the largest Singapore employer there, takes home about 20,000 euros (S$34,127) a year. But after tagging on socialPHOTO: REUTERS - 874 words
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Article317 2014-05-26 2 Why property cooling was needed THE property cooling measures adopted during 2009-13 were an essential complement to monetary policy and have succeeded in containing the market bubble, according to MAS. FRONT PAGE Thai junta turns focus to economy THAILAND’S junta met the head of the central bank, the317 words
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Article, Illustration757 2014-05-26 3 ROB CURRAN - Housing data lifts major indices but correction in small caps cause for worry WALL STREET INSIGHT By ROB CURRAN IT’S springtime for stock bulls as indexes hit records but the clouds could descend again this week if economic data disappoint. Sales ofPHOTO: AFP - 757 words
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707 2014-05-26 3 ANTHONY ROWLEY - A Chinese aircraft flew as close as 30m to a Japanese plane BY ANTHONY ROWLEY in Tokyo IN A very close encounter which Japan’s defence minister Itsunori Onodera described as being “outright over the top”, Chinese fighter jets reportedly came within 30 metres707 words
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Page 2 Advertisements
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Advertisement299 2014-05-26 2 [nterariselilT2ai4 www.goto-enterpriselT.com 17-20 June 2014 Basement 2, Level 1 3 Marina Bay Sands, Singapore Asia’s definitive sourcing platform tor innovative technologies EnterpriselT2014 is the must attend event if you are an end user in Marketing, IT or Operations departments from the Banking Finance, Government Military, Healthcare, Hospitality Retails, Logistics Transportation299 words
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Page 3 Advertisements
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Advertisement298 2014-05-26 3 Enjoy foreign currency time deposit rates as high as -j > j-7% p.a.* m .rso 5o J'JlS*' 50 •00 50 50 o<y ■oOv\ f 50 50 T >^50 bO-v^bO 5o T IT 50 M K uo -«»5o r 50 50 n i ?p *5¥P 50 r r. 50 9 '5o,,5o298 words
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COMPANY NEWS
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Article, Illustration881 2014-05-26 4 LYNETTE KHOO - Frasers Centrepoint also aims to tap its strength in mixed-use projects and is mulling over a hospitality fund, TOPLINE reports LYNETTE KHOO lynkhoo@sph.com.sg@LynetteKhooBT SINGAPORE’S property market has cooled somewhat but Frasers Centrepoint Limited (FCL) remains fired up. The global property player is looking toFILE PHOTO - 881 words
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Article281 2014-05-26 4 May 23 BANKS Agricultural Bank Of China 5.50 Agricultural Bank Of China Bangkok Bank Public Co. Ltd ANZ Singapore Bank of China Limited 5.50 Bank of Communications ...6.00 Bank of China Limited ...5.50 Bank of Taiwan ...5.50 Bank of Tokyo-Mitsubishi ...5.75 Banque Internationale a ...5.50 BNP Paribas281 words
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Article296 2014-05-26 4 COMPANY MEETING PLACE DATE TIME Frasers Centerpoint E Alexandra Point (Level 2) 438 Alexandra Road 28-May 2.30pm QT Vascular Ltd A 3A International Business Park #09-10/11/12 ICON IBP Tower 8 28-May 9.00am Frasers Ctrpt Trust E Alexandra Point (Level 2) 438 Alexandra Road 29-May 10.00am Asia Fashion Hldg296 words
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Article, Illustration960 2014-05-26 4 ADRIAN CHAN - In view of recent developments, it is timely to review if this regime has worked well here, says ADRIAN CHAN ADRIAN CHAN The writer is the first vice-chairman of the Singapore Institute of Directors TEN years ago, quarterly reporting was made mandatory inPHOTO: AFP - 960 words
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Article, Illustration1702 2014-05-26 5 ROBERT HALILI - Sharp rise in the number of trades and companies making purchases from previous week’s 4-day totals INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Ltd UYING rose while selling among directors was flat and buyback activity fell, according to filings on Singapore1,702 words
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Page 5 Advertisements
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Advertisement194 2014-05-26 5 L J •A -farm. i V J&' 4 t 5 •>. A S W^:WT*K2 ■V* 4f l> @Js, ypL*rA V" flT'I A S A 795 x 131 6cm $120,000.00 An exclusive invitation to Art Connoisseurs GALLERY NAWEI PTE LTD presents WTT TA MU WAN JUNYING. GLAMOUR. SOLO ART EXHIBITION WUI194 words
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SINGAPORE MARKETS
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Article, Illustration756 2014-05-26 6 R SIVANITHY - STOCKS R SIVANITHY sivan@sph.com.sg @RSivanithyBT Senior Correspondent FROM the way trading in the local market has gone during the past few months, some observations are possible which might offer clues as to how trading could proceed in the days ahead. irst, low liquidity of756 words
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Article, Illustration499 2014-05-26 6 ALAN BANNISTER - COMMODITIES ALAN BANNISTER The writer is executive director, Energy Products, Asia, at CME Group. THE growth in commodities markets in recent years has meant that traders no longer limit themselves to trading forex (FX) and equity indexes. Crude oil futures on CME Group499 words
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463 2014-05-26 6 CURRENCIES Bloomberg [NEW YORK] The euro last week fell for a third week as measures of manufacturing and business confidence in the region signalled uneven economic growth, bolstering bets on further European Central Bank (ECB) stimulus in June. The 18-nation sharedBloomberg - 463 words
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Article120 2014-05-26 6 BY CENTS CLOSE UP SPDRS S&P 500 10US$ ***** 304.4 1.3 IS S&P500 ***** 275.6 1.2 DBXT Nifty 10US$ ***** 259.3 1.6 Great Eastern 2178 203.0 10.3 SPDR DJIA 10US$ ***** 149.1 0.7 DBXT MSJAP 10US$ 4438 105.2 1.9 DBXT FTChina25 10US$ 2857 94.0 2.7 DBXT MSUSA 10US$ 4732120 words
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Article130 2014-05-26 6 BY CENTS CLOSE DOWN DBXT iBoxxSvEu 5US$ ***** -315.7 -0.9 DBXT AUDCS 5SG$ ***** -293.0 -1.2 DBXT AUDCS 5US$ ***** -280.6 -1.1 Lyxor ThaiSET 10US$ ***** -266.8 -1.7 Lyxor Indonesia10US$ 9148 -256.8 -2.2 DBXT EONIA 5US$ ***** -126.5 -0.5 DBXT SPASX200 10US$ 4186 -51.4 -1.0 JMH 400 USD 6101130 words
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Article1565 2014-05-26 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price AIMS AMP Capital Ind REIT 2.00 2.00 3 10.05 14.17 1.58 1.43 Amtek Engineering Ltd 3.00 2.50 2 0.05 9.50 0.56 0.59 ARA Asset Management Ltd 2.291,565 words
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Article77 2014-05-26 6 May 23 VALUE CLOSE BT OB/OS 31.00 +55.00 BT CADI -*****.00 +79.00 BT 10-day MA -*****.00 +3.00 FTSE ST Mid Cap 768.97 +2.21 FTSE ST Small Cap 548.29 +4.53 FTSE ST All Share 797.99 +3.13 FTSE ST China Top 202.88 +2.36 FTSE ST China 232.48 +2.62 FTSE77 words
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Article57 2014-05-26 6 VOLUME Armarda 327,370,000 CapitaMalls Asia 313,710,000 Advance SCT 263,290,000 HanKoreEnv 228,470,000 Noble 168,438,000 Charisma Energy 165,127,000 Amplefield 146,874,000 APAC Strategic 138,206,000 Federal Int 125,931,000 JES Intl 125,216,000 VALUE($) CapitaMalls Asia 737,253,770 SingTel 256,865,361 DBS Grp 240,587,915 Noble 219,287,752 UOB 187,056,413 Global Logistic 158,855,570 Keppel Corp 130,811,155 SMRT57 words
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Page 6 Advertisements
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Advertisement115 2014-05-26 6 Trade CME Group Products With Phillip Futures., M CME Group Brought to you by Phillip Futures Pte Ltd (A member of PhillipCapital) r-sK '1 S3?-' An Asian Financial House with a Global Reach www.phillipfutures.com.sg 6538 0500 futures@phillip.com.sg Co. Reg. No: *****5695G 250 North Bridge Road The above information does not115 words
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SINGAPORE NEWS
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411 2014-05-26 7 MINDY TAN - 70-80% of new workforce entrants can meet minimum sum, study finds By MINDY TAN tanmindy@sph.com.sg @MindyTanBT THE Minister for Manpower, Tan Chuan-Jin, has in a blog post defended the Central Provident Fund (CPF) system and the increased minimum sum. “Money in your CPF411 words
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Article, Illustration676 2014-05-26 7 SHEENA TAN - By SHEENA TAN tsheena@sph.com.sg HOUSEHOLD fans can now be used to fight the haze thanks to a filtration system developed by researchers from the National University of Singapore’s (NUS) engineering faculty. The system, which consists of the filter and a cover, converts aPHOTO: MARK CHEONG/THE STRAITS TIMES - 676 words
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Article, Illustration333 2014-05-26 7 MINDY TAN - By MINDY TAN By tanmindy@sph.com.sg @MindyTanBT Children’s Society’s new programme aims to raise $3m yearly SINGAPORE Children’s Society’s brand new fund-raising programme, 1,000 Philanthropists, aims to make philanthropists out of ordinary individuals by inviting people to donate a minimum of $1,000 per year, for a period of one,333 words
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282 2014-05-26 7 THE GOVERNMENT is starting a new series of housing conversations on “closer families; stronger ties” to see how best to help couples and their extended families draw closer together for mutual care and support said Minister for National Development Khaw Boon Wan on282 words
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481 2014-05-26 7 SHEENA TAN - Big data gives opportunities for accountants to provide clients with analysis services By SHEENA TAN tsheena@sph.com.sg TECHNOLOGICAl advances such as big data and cloud technology were identified as key drivers of change for businesses and accountants during the Association of Chartered Certified Accountants’481 words
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Article1884 2014-05-26 7 Payment Ex Rec Pay Ann (cts) date date date date ABR ak 1.500 06-May 08-May 28-May 14-Apr AIMS Prop Sec ag 0.090 27-Mar 31-Mar 20-Jun 21-Mar AIMSAMP Cap Reit (1 Jan-31 Mar 14) ag 2.510 14-May 16-May 24-Jun 07-May Amara an 1.000 10-Jun 12-Jun 26-Jun 14-Mar AnnAik ak1,884 words
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VIEWS FROM THE TOP
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Article, Illustration2182 2014-05-26 8 THIS WEEK’S TOPIC How can the Central Provident Fund, as a comprehensive social security plan, be improved? What changes are needed to its various schemes? Ronald Lee Managing Director PrimeStaff Management Services Pte Ltd THE CPF began with a mission of being a retirement savingsFILE PHOTO - 2,182 words
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Advertisement98 2014-05-26 8 WE ARE WINNERS! CONGRATULATIO S TO OUR STERLING TEAMS AT THE 2014 MPAS AWARDS*. HER WORLD/ WINNER, WOMEN’S MEDIA OF THE YEAR TORQUE/ WINNER, SPECIAL INTEREST MEDIA OF THE YEAR THE PEAK SELECTIONS: GOURMET TRAVEL/ WINNER, FOOD MEDIA OF THE YEAR HER WORLD/ HERWORLDPLUS.COM/ MERIT WINNER, INTEGRATED MEDIA BRAND OF98 words
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Advertisement217 2014-05-26 9 ■> J r V 7&t0 i. m 7 4s ',s.-*} C-WA'/-' ,-r vvY*U4-y^y*yWw fittr ,'c. ;;X V The upgrade that calls for a celebration. Enjoy a free upgrade from the E 200 ELEGANCE to the E 200 Coupe. In addition to a free upgrade, receive extra savings of $15,000 when217 words
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Advertisement11 2014-05-26 9 For the complete list of views from CEOs, go to http://businesstimes.com.sg11 words
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BT-CITIBANK YOUNG INVESTORS' FORUM
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Article, Illustration1689 2014-05-26 10 CAI HAOXIANG - A person who goes on a financial fast intentionally deprives himself from a position of strength, for a better future MONDAY MULTIPLE CAI HAOXIANG haoxiang@sph.com.sg @HaoxiangCaiBT Correspondent THERE is a fad that is going on in some wealthy circles. Every year, a businessman I knowFILE PHOTO - 1,689 words
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Article, Illustration788 2014-05-26 10 BEN STEVERMAN - Retired and living at home anywhere Couple sell their house and satisfy their wanderlust By BEN STEVERMAN WHEN they retired, Tim and Lynne Martin had close friends, family nearby, a community they liked and financial security. Then they yanked the safety net. Lynne, 73, and Tim, 68, sold their homePHOTO: REUTERS - 788 words
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Advertisement113 2014-05-26 10 Get started now Be a young investor DO you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to113 words
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MALAYSIA/INDONESIA
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Article, Illustration887 2014-05-26 11 Voters to choose between ex-general Prabowo and an untested Jokowi Reuters [JAKARTA] The sudden emergence of a former general as a genuine contender has turned Indonesia’s presidential election into a clash between the old guard who flourished under decades of autocratic ruleReuters; PHOTOS: REUTERS - 887 words
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466 2014-05-26 11 [KUALA LUMPUR] The implementation of an open tender system to build new power plants since late-2012 has reduced generation-related costs by more than RM4 billion (S$1.56 billion), people familiar with the matter said. This has helped address the relatively “high” returns enjoyed by independent466 words
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Article1364 2014-05-26 11 VOL May 23 RM +/-(‘000) VOL Advance Synerg 0.19 0.01 5461 Adventa Bhd 1.11 unch 62 Ae Multi Hldgs unch unch 0 Affin Holdings 3.62 unch 301 Ahmad Zaki Res Abric Bhd Airasia Bhd unch Alliance Finan Advance Synerg Aluminium Co 0.01 Amalgamated In Adventa Bhd Amcorp Pro1,364 words
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379 2014-05-26 11 MI_Npv_TA_N - State government identifies them as priority projects B)’ MI_Npv_TA_N tanmindy@sph.com.sg @l\/lindyTanBT TEMASEK Holdings, Penang Development Corporation (PDC) and Economic Development Innovations Singapore (EDIS) have inked a memorandum of understanding (MOU) to develop two projects in Penang. The projects Penang International Technology Park and379 words
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Advertisement6 2014-05-26 11 Show Price Show Price Show Price6 words
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GREATER CHINA
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Article, Illustration954 2014-05-26 12 Easy growth phase is over amid rising competition and price cuts: analysts Reuters [SHANGHAI] A crackdown on corruption and pricing in China’s fast-growing pharmaceutical market has squeezed profits and margins, raising a red flag to global Big Pharma that the days ofReuters; PHOTO: REUTERS - 954 words
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588 2014-05-26 12 BOC, ICBC plan to recover NPLs with internal resources IFR [SINGAPORE] China’s biggest banks are having second thoughts about offloading their bad debts to the asset management companies that Beijing has designated to handle them, in a sign of growingIFR - 588 words
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Article, Illustration550 2014-05-26 12 Bloomberg [BEIJING] BYD Co, the Chinese automaker partially owned by Warren Buffett’s Berkshire Hathaway Inc, will raise HK$4.27 billion (S$690,104) in its biggest stock sale since its 2002 initial public offering. The company will sell 121.9 million shares at HK$35 each, BYD saidBloomberg; PHOTO: BLOOMBERG - 550 words
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Advertisement663 2014-05-26 12 THE BUSINESS TIMES NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.sphclass.com.sg/notices *2 DZ BANK Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, Platz Per Republik, ***** Frankfurt am Main, Germany, www.dzbank.com Singapore Branch 50 Raffles Place, #43-01, Singapore Land Tower, Singapore *****3 The notes form an integral part of the audited financial statements and663 words
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INDIA
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375 2014-05-26 13 Deal put on hold to consider a petition alleging insider trading Bloomberg [HYDERABAD] An Indian court removed the stay on Sun Pharmaceutical Industries Ltd’s US$3.2 billion purchase of Ranbaxy Laboratories Ltd after putting it on hold to consider a petition allegingBloomberg - 375 words
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Advertisement1606 2014-05-26 13 Incorporated in the Federal Republic of Germany GROUP STATEMENT OF FINANCIAL POSITION Financial Accounts for the Year 2013 as at 31 December 2013 (€m) 2012 2013 (€m) GROUP STATEMENT OF INCOME for the period 1 January to 31 December 2013 ASSETS Cash reserve 4,851 6,745 Loans and advances to banks1,606 words
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Advertisement1339 2014-05-26 13 The Business Times NOTICES CHANG HWA COMMERCIAL BANK, LTD. HEAD OFFICE: TAIWAN R.O.C. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2013 AND 2012 (In Thousands of New Taiwan Dollars,) Dec 31, 2012 Dec 31, 2013 ASSETS Cash and cash equivalents 46,802,014 37,401,155 Due from the Central Bank1,339 words
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Advertisement6 2014-05-26 13 Toll free 1800-289-8822 Email notices@sph.com.sg www.sphclass.com.sg/notices6 words
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WORLD
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594 2014-05-26 14 They offer advice for a fee, do not push clients to buy financial assets AFP [SINGAPORE] When the value of his US$20 million portfolio plunged in the 2008 global financial crisis, luxury car enthusiast Gerard Tan followed a growing trend among Asia’s eliteAFP - 594 words
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Article, Illustration454 2014-05-26 14 Dominant Mercedes chalks up sixth win in a row Re uters [MONACO] Germany’s Nico Rosberg won the showcase Monaco Grand Prix for the second year in a row yesterday to snatch back the Formula One world championship lead from Mercedes teammate Lewis Hamilton.Reuters; PHOTO: REUTERS - 454 words
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Article, Illustration576 2014-05-26 14 Reuters [WASHINGTON] Stung by criticism, US President Barack Obama will use a speech this Wednesday to launch a sweeping defence of his approach to foreign policy one that he will say is reliant on multilateral diplomacy instead of military intervention.Reuters - 576 words
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492 2014-05-26 15 Rise expected after last month’s increase in nationwide sales tax Reuters [TOKYO] Japan’s core consumer prices in April rose the most in almost 23 years after an increase in the nationwide sales tax, according to a Reuters poll. Excluding the impactReuters - 492 words
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Article, Illustration1283 2014-05-26 16 A cooperative called Fruta Feia buys unwanted, imperfect food cheaply NYT [LISBON] Isabel Soares went shopping for produce on a recent morning, carefully selecting her fruits and vegetables with a discriminating eye. She picked up some spinach whose leaves had turnedNYT; PHOTO: AFP - 1,283 words
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Article, Illustration852 2014-05-26 17 Jury’s still out on long-term benefits of hosting costly global sports events AFP [RIO DE JANEIRO] The World Cup will cost Brazil more than US$11 billion a sum that has sparked outraged protests and sent economists dashing for new data onAFP; PHOTO: AFP - 852 words
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Article, Illustration759 2014-05-26 17 High inflation rates have also hit consumer spending Reuters [BUENOS AIRES] After a decade of growth, Argentina faces a sharp decline this year as industrial output falls and one of the world’s highest inflation rates hits consumer spending and new investment. The economyReuters - 759 words
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632 2014-05-26 18 US, Japan and UK central banks have been injecting liquidity into markets AFP [PARIS] Massive dividend payments and mega mergers: With markets flush with central bank easy money, companies have begun to raid their war chests, gobbling up competitors or rewarding investors. InAFP - 632 words
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Article, Illustration61 2014-05-26 18 [SYDNEY] A colourful pattern is projected onto the wall of the Museum of Contemporary Art on the second night of the ‘Vivid Sydney’ light and music festival on Saturday. For 18 days beginning on Friday the ‘Vivid Sydney’ festival will combine outdoor lighting sculptures and installations andReuters - 61 words
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265 2014-05-26 18 AFP [TOKYO] Japan’s central bank chief has forecast victory in his battle against stubborn deflation that has sapped growth for years, but expressed impatience over the pace of Premier Shinzo Abe’s policy blitz aimed at jump-starting the long-laggard economy. Bank of Japan governorAFP - 265 words
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486 2014-05-26 18 Exam criticised by a banker for ‘political bias’ against eastern Europe Bloomb erg [BRUSSELS] The European Central Bank defended the design of a stress test for 128 euro-area lenders, after Andreas Treichl, head of Erste Group Bank AG, vowed to fight its “political” biasBloomberg - 486 words
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Article, Illustration722 2014-05-26 18 What he says will provide clues about his coming policies Bloomberg [SINTRA, Portugal] When Mario Draghi secludes himself with Europe’s top minds in central banking this week he will not be able to escape one question: What’s next? After all but promisingBloomberg - 722 words
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Advertisement221 2014-05-26 14 QiIKT ALL-STARS EDITION ALL This year, we are celebrating 10 years of ChildAid with you as our stars! Come join the show to raise funds for two worthy children's charities and with a star-studded alumni of ChildAid, many of whom have gone on to become stars of their own. So221 words
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Advertisement23 2014-05-26 14 Now on PC, iPad Android WELCOME ABOARD Ask your local bookshop or get your copy by subscribing today Visit www.asia-pacificboating.com or email sub@bluincmedia.com23 words
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Advertisement18 2014-05-26 14 www.omy.sg 0J1 uisaiettif OKm? news.omy.sg > PflSIR RIS 58 u Download omy Apps HftlH omy News iOSAppStore Google Play18 words
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Advertisement839 2014-05-26 15 Bankof America Report of Independent Registered Public Accounting Firm Bank of America Corporation and Subsidiaries To the Board of Directors and Shareholders of Bank of America Corporation: In our opinion, the accompanying Consolidated Balance Sheet and the related Consolidated Statement of Income, Consolidated Statement of Comprehensive Income, Consolidated Statement of839 words
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Advertisement1367 2014-05-26 15 The Business Times NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.sphclass.com.sg/notices CreditSuisse^ Consolidated Statements of Comprehensive Income Capital Adequacy BIS statistics Basel III Report of the Statutory Auditor on the Consolidated Financial Statements to the General Meeting of Shareholders of Credit Suisse AG, Zurich As statutory auditor, we have audited the1,367 words
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Advertisement208 2014-05-26 16 Always Be Discovering with The Business Times Indulge in top quality French wines selected by one of the best sommeliers of France v >' mm *Wv.. laMwreSfe,, 4V r ■n Vfa FRENCH i CELLAR y/ V/fa FRENCH CELLAR lc Nicolas Rebut 3-star Michelin sommelier (former Chef Sommelier of “Le Meurice”208 words
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Advertisement19 2014-05-26 17 klSS92 FM place one in songs great the All I > m IN THE MORNING -WEEKDAYS 6AM-10AM D facebook.com/kiss92fm www.kiss92.sg19 words
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Advertisement58 2014-05-26 17 ich Ask 2014 International Building Technology Expo A part of SINGAPORE CONSTRUCTION PRODUCTIVITY WEEK 2014 3M3TtW[t 14-16 October 2014 Singapore EXPO Halls 3 4 www.buildtechasia.com ■i "r»t <r* y>-v ■,$*rrSjg -rf, 'j t v.V To Exhibit: Tel:+65 6319 4021 Email: buildtechasia@sph.com.sg To Visit: Pre-register at www.buildtechasia.com Ti inn iiMW>i*iiiii>nii>iilniH i58 words
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Advertisement288 2014-05-26 17 At times, we would notice a consistent increase in the stock prices of certain listed companies over time, irregardless of the Straits Times Index’s (STI’s) performance. These companies do not give a high dividend yield and it keeps us wondering on the reason for the price increase. Often, such price288 words
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Advertisement170 2014-05-26 17 The Business Times NOTICES In the Matter of The Companies Act, Cap. 50 AND IN THE MATTER OF Silecs International Pte Ltd (In Creditors’ Voluntary Liquidation) (CO. REG. NO. *****3510W) At an Extraordinary General Meeting of the Company duly convened and held at 8 Robinson Road #11-00 ASO Building Singapore170 words
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Advertisement626 2014-05-26 17 IN THE MATTER OF COMPANIES ACT, CAP. 50 AND IN THE MATTER OF GS YUASA BATTERY SINGAPORE COMPANY PRIVATE LIMITED REG. NO. *****0647K (IN MEMBERS’ VOLUNTARY LIQUIDATION) NOTICE OF RESOLUTIONS [Pursuant to Section 290(2)(b)] At an Extraordinary General Meeting of the Company held on 19 May 2014, the following Resolutions626 words
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Advertisement57 2014-05-26 18 Dh/Plays Ai\\A'\\ V V\A\ VI v\ U N Looking for investments which offer attractive dividend yield and sound growth prospects? I i-eus i'X. VJiul.a Refer to DivPIays in The Business Times Notices on 27 May and Straits Times Notices on 28 May for options. A supplement special by: ShareInvestor A57 words
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AVIATION/SHIPPING
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679 2014-05-26 19 Online facilities, fleet efficiency, competition have brought down sky-high rates AFP [PARIS] Once the preserve of the ultra-rich and celebrities, a flight on a private jet is now available for as little as 550 euros (S$939) an hour, with technology andAFP - 679 words
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Article, Illustration559 2014-05-26 19 Tom Enders alarmed anti-EU populists will set back trade Reuters [BERLIN] Alarmed by a surge of anti-EU populists, the chief executive of European aerospace firm Airbus Group has taken the unusual step of writing to the group’s 144,000 employees to urge themReuters; PHOTO: AFP - 559 words
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181 2014-05-26 19 Reuters [WILMINGTON] An attorney for Overseas Shipholding Group, one of the world’s largest publicly traded tanker holding companies, told a US judge on Friday a deal was close with noteholders that would clear the way for creditors to vote on its bankruptcyReuters - 181 words
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Article, Illustration255 2014-05-26 19 He seeks £350m for assets including carmaker, F1 Team Bloomberg [SINGAPORE] Tony Fernandes, chief executive officer of low-cost carrier AirAsia Bhd, plans to sell the Caterham group of automotive and engineering companies, The Edge Malaysia reported. The 50-year-old Malaysian businessman is seekingBloomberg - 255 words
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247 2014-05-26 19 Reuters [MELBOURNE] Deutsche Bank has declared it will not finance a controversial coal port expansion in Australia near the Great Barrier Reef, responding to calls from green groups and tourism operators. The German bank’s stand marks a win forReuters - 247 words
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Article238 2014-05-26 19 Source: Thomson Reuters SGX '000 May 23 S$ +/-Vol Ch Offshore 0.43 unch 164 Chuan Hup Hldg 0.28 -0.01 25 May 23 Cwt Limited.................1.72 -0.01 815 First Ship Lea 0.09 unch 142 Grand Banks 0.26 -0.01 42 Jaya Hold Ltd i ln rh K1Ventures..................0.18 unch 882 Keppel Corp238 words
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Advertisement17 2014-05-26 19 Manylocal trade associations lack resources to develop members' capabilities To subscribe, call 6388-3838 or go to sphsubscription.com.sg17 words
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Page 19 Miscellaneous
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Miscellaneous341 2014-05-26 19 CRYPTIC CROSSWORD Across 1 Churchman about to get plate out (7) 5 See sign is incorrect, for a start (7) 9 Memorial sculpture Lichfield Cathedral contains (5) 10 Job’s place (9) 11 Current date girl takes round to party with car (4,6) 12 Simple plant Father Benedict provides (4) 14341 words
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DINING OUT
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Article, Illustration1028 2014-05-26 20 writesJAIME EE - Clifford Pier banks on local favourites to draw in the crowds but may have to do more to wok the talk, writes JAIME EE writesJAIME writesJAIME EE jaime@sph.com.sg @JaimeEeBT NEW RESTAURANT The Clifford Pier The Fullerton Bay Hotel Singapore 80 Collyer Quay Tel: 6597 5266PHOTO: THE CLIFFORD PIER, JAIME EE - 1,028 words
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Advertisement50 2014-05-26 20 THE GREAT DIGITAL SALE Father’s Day Special $1.50 is all you need to treat yourself and your dad! Just $36 a year for any 2 magazines! Only $1.50 per digital issue (u.p. $5-$6.90) Subscribe Now! http://www.sphmagazines. com.sg/fathersday Offer valid till 30 Jun. Available for iOS or Android tablets and smartphones50 words
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Advertisement27 2014-05-26 20 $80++ Everything, plus the kitchen sink Select furniture for your home or showcase your merchandise in CLASS 114 To advertise, call the Print Classified Hotline: 1800-289 998827 words
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SINGAPORE STOCKS
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Article4325 2014-05-26 21 Week ended: May 23 52-wks Last Vol Week Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol 97.5 69 ABR 13.5 10.4 8Telecom Div GrYld Net M Cap 13 6.7 AIMS Property 13 +1.1 2336 134,325 words
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Article589 2014-05-26 22 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 32 23 t 3Cnergy 500 Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale Cooo) High 32.5 16589 words
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Article124 2014-05-26 22 Stock name Close Change CapitaLand 3.210 +0.030 CapitaMall Trust 2.040 +0.010 CapitaMalls Asia 2.350 CityDev 10.500 +0.120 ComfortDelGro 2.380 +0.130 DBS Grp 16.990 +0.030 Genting Sing 1.330 Global Logistic 2.810 +0.040 Golden Agri-Res 0.575 -0.010 HPH Trust USD 0.720 +0.010 Stock name Close Change HongkongLand USD124 words
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Article1961 2014-05-26 22 Transaction date: May 23 HONG KONG Vol HK$ +/-'000 Aeon Credit Vol ■000 Angang Steel 4.27 -0.02 5045 Anhui Conch 27.25 0.65 ***** Anhuiexpresswa 4.49 0.16 2812 Asia Satellite Aeon Stores Asm Pacific 0.03 Avic Ihl Angang Steel 4.27 Baiyunshan Ph 22.45 0.20 764 Bank Of China 3.601,961 words
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Article263 2014-05-26 22 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 62 40 AVJennings A54 unch 10 54 54 52 57 3.6 6.5 4.4 199.9 4.5 0.7 OGL Resources A$ A1 -0.5 76 1 0.7 0.7 1.8 0.2263 words
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Article186 2014-05-26 22 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 9 6 0 0 0 0 9 6 0 Manufacturing 78 56 38 13 12 10 91 68 48 Commerce 39 14 18 2 9 2 41 23 20 Tpt/Stor/Comms 25 10 9186 words
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Article1106 2014-05-26 22 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 119.8 108.3 ABF SG Bond ETF 115 +0.6 89 115.2 114.4 114.8 115 525 138.7 119 CIMB APAC Div 100S$D 131.4 +0.2 131.6 130.5 130.1 132.71,106 words
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Article123 2014-05-26 22 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 163,620 163,620 282,277 282,277 Manufacturing 1,644,170 385,813 2,029,983 689,860 48,172 738,032 Commerce 584,253 225,379 809,632 541,312 24,735 566,047 Tpt/Stor/Comms 584,555 53,898 638,453 881,054 7,577 888,631 Finance 129,677 2,235 131,912 622,878 643 623,521 Construction 166,221 368,121123 words
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Advertisement23 2014-05-26 22 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use.23 words
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FINANCE & COMMODITIES
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Article683 2014-05-26 23 May 23 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.10 *****.04 *****.80 Jun14 *****.00 *****.00 *****.00 *****.00 *****7 *****0 Sep14 *****.00 *****.00 *****.00 *****.00 809 9320 MSCI TAIWAN INDEX FUTURES SPOT 321.86 323.21 321.86 May14 322.40 324.00 322.10 323.60 ***** *****7 Jun14 322.30683 words
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373 2014-05-26 23 In local curr In S$ In US$ dy yr dy yr dy yr May 23 Index Change Change Change Change Change Change World Preliminary 1207.1 0.3 1.9 0.3 1.3 0.3 2.2 EAFE Preliminary 960.1 0.4 0.4 0.2 0.3 0.2 1.2 Europe Preliminary 1398.9 0.2 3.2373 words
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Article472 2014-05-26 23 May 23 May A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.007 5.762 0.678 7.163 54.044 106.924 0.939 9.463 2.964 1.080 91.262 40.331 1.157 9.562 0.828 27.846 30.087 0.548 0.924 Canada 0.993472 words
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Article37 2014-05-26 23 May 23 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) 1 mth 1 mth 3 mths 3 mths 6 mths Source: Thomson Reuters37 words
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Article80 2014-05-26 23 May 23 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 1-Year BY*****S 02-May-15 0.34 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0W 1.13 01-Apr-16 101.3 5-Year NX*****W 2.5 01-Jun-19 105.6 105.65 105.65 10-Year NX*****H 2.750 01-Jul-23 103.38 103.4280 words
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Article119 2014-05-26 23 May 23 GOLD(US$/oz) May 23 May 22 Hong Kong 1297.00 1298.00 May 23 May 22 London 1292.45 1295.74 1293.17 1296.36 Source: Thomson Reuters GOLD BULLION COINS (S$) Selling Buying 1 oz 1690 1616 SILVER Selling Buying Passbook Acct 1 oz 24.71 23.94 CAST BAR May 23 (S$) Selling119 words
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Article61 2014-05-26 23 May 23 May 23 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 14 2554.0 2541.0 2560.0 2534.0 665 3517 Jul 14 2540.0 2525.0 2548.0 2519.0 5968 ***** Aug 14 2528.0 2517.0 2537.0 2509.0 ***** ***** Sep 1461 words
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Article157 2014-05-26 23 May 23 Against US$ Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1570 1.1575 0.9236 0.9239 Canadian dollar 1.1489 1.1497 0.9177 0.9172 Euro 1.7076 1.7079 1.3631 1.3633 NZ dollar 1.0716 1.0724 0.8554 0.8560 Sterling pound 2.1102 2.1108157 words
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Article112 2014-05-26 23 May 23 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 14 1515.50 1518.75 1529.00 1512.25 Aug 14 1445.50 1448.00 1458.00 1442.50 Sep 14 1320.75 1327.25 1336.00 1316.75 Nov 14 1265.75 1270.75 1277.50 1260.00 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 14112 words
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Article94 2014-05-26 23 May 23 COCOA (£/tonne) Close Prev High Low Jul 14 1903 1883 1905 1877 Sep 14 1896 1881 1900 1874 Dec 14 1888 1877 1891 1871 Mar 15 1879 1870 1884 1864 COFFEE(US$/tonne) Close Prev High Low May 14 1999 2001 1999 1998 Jul14 2003 2019 2020 1999 Sep94 words
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1219 2014-05-26 23 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 Conv Asia-Pacific Strategic W*****6 Exer Acma Ltd W*****7 Prem Albedo Limited W*****9 Asiatic Grp(Hldgs) Ltd W*****5 1.9 -0.1 3570 0.0 2 16 Asiatravel.com HoldingsW*****7 2 1 8 11,219 words
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Article70 2014-05-26 23 CRUDE OIL PRODUCTS May 22 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 110.87 0.18 WTI (Near Mth) 104.24 -0.12 Dubai (1-Mth F) 106.28 0.36 Tapis blend 114.31 unch Minas 110.01 unch PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 106.22 0.83 Jet Kerosene 120.39 0.02 US$/barrel OpecOil Basket70 words
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Article22 2014-05-26 23 May 23 S$ Bid Offer 1-month 1.2527 1.2528 2-months 1.2527 1.2528 3-months 1.2527 1.2528 6-months 1.2525 1.2526 Source: OCBC22 words
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Article66 2014-05-26 23 May-23 May-23 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1776.00 1757.50 3 months 1814.50 1796.00 Copper, Grade A(US$/tonne) Cash 7021.00 6959.00 3 months 6928.00 6875.00 Lead(US$/tonne) Cash 2124.75 2111.75 3 months 2150.00 2137.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months66 words
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Article121 2014-05-26 23 As at 9am May 23 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.182 1.126 Can dollar 1.170 1.125 Euro 1.748 1.665 Sterling pound 2.150 2.068 NZ dollar 1.098 1.056 US dollar 1.277 1.217 Local dollars to 100 units of foreign121 words
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Article157 2014-05-26 23 May 23 $S Offer Bid 0vernight 0.02 par 1-month 3/8 1/4 2-months 3/8 1/4 3-months 7/16 5/16 Overnight mode: 0.06 US$ Offer Bid 7 days 0.18 0.08 1 month 0.25 0.15 2 months 0.30 0.20 3 months 0.40 0.20 6 months 0.50 0.30 9 months 0.60 0.40 12157 words
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Article2231 2014-05-26 24 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 THE2,231 words
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Advertisement39 2014-05-26 24 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? The Business Times Shpping Dues39 words
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Advertisement224 2014-05-26 25 mporters coking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT *****327 II USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times Shipping Times FREIGHT FORWARDER urgently needed by shippers TO ADVERTISE, CALL JOE224 words
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BizIT THE BUSINESS OF INFOCOMM TECHNOLOGY
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Article, Illustration1170 2014-05-26 26 AMIT ROY CHOUDHURY - With a slew of partnerships, the firm moves to create the Star Alliance of cloud service providers, writesAMIT AMIT ROY CHOUDHURY amit@sph.com.sg @AmitRoyCBT [SAN FRANCISCO] ETWORKING, and now increasingly, cloud and data centre vendor, Cisco, believes that a brutal consolidation is taking place in the1,170 words
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Article, Illustration897 2014-05-26 27 VICTORIA HO - By VICTORIA HO SINGAPORE companies are having a hard time keeping track of enterprise data, and the problem is only getting worse. Daniel-Zoe Jimenez, senior programme manager at IDC Asia Pacific, said data has been growing for years, but that’s old news. “Vendors897 words
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Article, Illustration890 2014-05-26 27 AMIT ROY CHOUDHURY - Asean, Korea still strong regional growth markets, writesAMIT AMIT ROY CHOUDHURY amit@sph.com.sg @AmitRoyCBT Despite facing a tough quarter in the Asia Pacific, Japan and China (APJC) region, network, cloud and security vendor Cisco is optimistic about long-term growth in the region. Speaking to890 words
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554 2014-05-26 27 MICHAEL CHUA - Global expenditure on mobile advertising is expected to hit US$18b By MICHAEL CHUA By chuamc@sph.com.sg MOBILE marketing, the offshoot of online or digital marketing, is fast gaining a bigger share of the advertising dollars. According to IT research agency Gartner, global expenditure on mobile advertising554 words
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Advertisement125 2014-05-26 26 VISION Set Your Sights On Being A Winner Submit Your Entry For The Prestigious 2014 E50 Awards Now If you are a homegrown, privately-owned enterprise with three years of audited statements, and have achieved sterling business performance because you had the foresight to focus on the critical aspects of running125 words
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Advertisement395 2014-05-26 27 TOSHIBA Leading Innovation »> Toshiba recommends Windows 8 Pro. Thin. Light. Smart. EMPOWER YOUR BUSINESS WITH SECURE RELIABLE NOTEBOOKS DAY L FE hrs PORTEGE Z30 Ultrabook” ALL BATTERY 1.20kg Ultra Thin, Ultra Light reddot award 2014 winner The new Portege Z30, lightest in its class, comes with Toshiba EasyGuard™ and395 words
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Advertisement124 2014-05-26 28 Bradley Kanaris/Getty r WJ BNP PARIBAS WTA FINALS SINGAPORE presented by SCglobal WTA m. (k < .AM U i J A 'J I A Z A J >:*. ■’f W. mr-'M J kO (Fi7'/ ri>. iu r> •J r.o rr Va > vj vy ’> Jit 7 4 A.AAjF mft/M124 words
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