The Business Times, 3 June 2014

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Microfilm: NL33151
Total Pages: 68
1 40 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Tuesday, June 3, 2014
    25 words
  • Article, Illustration
    Lock icon Late bill payments in Q1 rise to 38%
    674 1  -  Companies in the building sector are worst paymasters By SIOW LI SEN lisen@sph.com.sg @SiowLiSenBT [SINGAPORE] Delayed bill payments are on the rise again, with companies in the construction sector emerging as the worst paymasters once more. Across the sectors, 37.88 per cent
    Source: Singapore Commercial Credit Bureau  -  674 words
  • Article, Illustration
    Lock icon Iata trims forecast for second time this year
    841 1  -  Industry body projects combined net profit of US$18b for global carriers By in Doha, NISHA RAMCHANDANI in Doha, Qatar nishar@sph.com.sg @Nisha_BT THE International Air Transport Association (Iata) has trimmed its industry forecast for the second time this year, projecting a combined net
    AFP  -  841 words
  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 GST INDEX 3,302.24 (+6.39) GST INDEX FUTURES 3,303.00 (+6.00) GSIMSCI 374.28 (+0.56) GSIMSCI FUTURES 374.20 (+0.30) US$ S$ US$ (S$ per US$) 1.257 (US$/S$ per 1.676 2.106 EURO (US$/S$/€ 1.360 1.709 Foreign currency per US$ S$ YEN 102.00 81.20 RM 3.227 2.567 HK$ 7.754 6.170 BAHT 32.89 26.17 RUPIAH
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    • Article
      Lock icon MARKETS
      46 1 Monday Change KL COMP 1,864.25 -9.13 NIKKEI 225 14,935.92 +303.54 HANG SENG Closed SET INDEX 1,440.94 +25.21 JAKARTA COMP 4,912.09 +18.18 MANILA COMP 6,710.40 +62.75 SEOUL COMP 2,002.00 +7.04 SHENZHEN B Closed MUMBAI IND 24,684.85 +467.51 12noon EDT Change DOW 16,736.97 +19.80 NASDAQ 4,233.19 -9.42
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    • Article
      Lock icon PRIME RATES
      19 1 SINGAPORE MALAYSIA HONG KONG INDONESIA 6.55 5.00 INDONESIA 14.961 TAIWAN US JAPAN 1.475 KOREA 9.33 Source: Bloomberg
      19 words
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      141 1 COMMENTARY Digital cities for digital citizens PAGE 21 SME Inc Merging marketing, IT skills to deliver COMPANIES Valencia’s old stadium excites Rowsley PAGE 6 S’PORE NEWS 32 CEOs paired with 32 World Cup teams PAGE 12 PAGE 13 MOCHTAR RIADY SPOTLIGHT Doing good and multi-generational wealth Special: Women in finance
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      3 1 *****1 11 *****4
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  • TOP STORIES
    • Article
      Lock icon THREE-MINUTE DIGEST
      483 2 Iata trims forecast for second time this year THE International Air Transport Association trimmed its industry forecast downwards for the second time this year, projecting a combined net profit of US$18 billion. FRONT PAGE More late payments by companies in Q1 MORE companies are delaying payments on their
      483 words
    • Article, Illustration
      Lock icon TPP talks likely to wrap up soon, says US envoy
      532 2  -  Delay no surprise as talks involve 12 countries, major trade issues By LEE U-WEN leeuwen@sph.com.sg @LeeUwenBT [SINGAPORE] Having practised law for 20 years, Kirk Wagar knows how tough it can be just to finalise an agreement between two parties. So
      FILE PHOTO  -  532 words
    • Article
      Lock icon Singapore ranked 3rd in study of global cities
      539 4  -  It was tops for two of the 10 indicators used to assess performance By LESTER WONG lesterw@sph.com.sg [SINGAPORE] The Republic has come in third in the sixth edition of PwC’s Cities of Opportunity study, finishing behind London and New York. Singapore also
      539 words
    • Article, Illustration
      Lock icon US eyeing Water Week business benefits
      528 4  -  By LEE U-WEN leeuwen@sph.com.sg @LeeUwenBT [SINGAPORE] More American companies are recognising the benefits of investing in South-east Asia and using the Republic as a platform to branch out into the region, said US Ambassador to Singapore Kirk Wagar. No fewer than 57 organisations from
      528 words
    • Article
      Lock icon Manufacturing in May grows at slower rate than forecast
      469 4 LATEST US DATA Bloomberg [WASHINGTON] Manufacturing in the United States expanded at a slower pace than forecast in May as orders and production eased from the previous month. The Institute for Supply Management’s factory index fell to a three-month low of
      Bloomberg  -  469 words
    • Article, Illustration
      Lock icon S’pore’s transport network is best in class: study
      517 4  -  By SAMUEL EE samuelee@sph.com.sg [SINGAPORE] The Republic has the best transportation network of any city of its type, according to a study The Mobility Opportunity commissioned by Siemens. The German conglomerate had engaged consulting firm Credo to look at transportation networks in
      FILE PHOTO  -  517 words
    • Article
      Lock icon MasterCard launches digital wallet platform
      318 4  -  By JOYCE HOOI joyceh@sph.com.sg @JoyceHooiBT [SINGAPORE] MasterCard yesterday launched its digital payment service, MasterPass, in Singapore. This service lets consumers store information from various kinds of cards, including credit and debit, issued by participating banks in “digital wallets”. After the initial set-up, shoppers will bypass
      318 words
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      302 2 *FOR LIMITED PERIOD ONLY! ASUS recommends Windows. Free 3 Years On-Site Service Upgrade! Enjoy a free upgrade to 3 years next business day on-site warranty (worthS$349)! Business Notebooks Premium Performance with Total Data Protection Protect data on hardware level with trusted platform module (TPM) Triple hard disk protection BU Series
      302 words
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      162 3 r —> m m hi *5353(1 ES i H R BEHIND EVERY INCH OF LUXURY, ARE THE SKILLED HANDS OF ATAKUMI. THE LEXUS ES, THE ESSENCE OF LUXURY Only 12 Lexus ES master craftsmen or Takumi in the world can fold an origami cat with their non-dominant hand, In under
      162 words
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  • Page 5 Advertisements
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      148 5 Pacific Light The Successful Launch Of Pacific)9ght Power's S$1.2 Billion State-of-the-art Combined Cycle Power Plant iLdS m Hr 911 i 1 'life. t ■i I I W m h K r r.l K J vii» 1 i.ViVi HU -it mu 11 F Itm i i ili n. _L t: SETn
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon Valencia’s old stadium excites Rowsley
      684 6  -  With Peter Lim’s takeover of club, firm has a shot at redevelopment By ANITA GABRIEL anitag@sph.com.sg @AnitaGabrielBT SINGAPOREAN magnate Peter Lim’s takeover victory of Spanish football club Valencia could potentially give Rowsley, a Singa-pore-listed firm he controls, a clear shot at redeveloping the old stadium
      PHOTOS: ROWSLEY, AFP  -  684 words
    • Article, Illustration
      Lock icon Sembmarine takes 12% stake in Norway firm
      435 6  -  Startup GraviFloat designs, operates floating terminals By RONNIE LIM ronnie@sph.com.sg SEMBCORP Marine is dipping its toes into the floating LNG/LPG terminals business, taking a 12 per cent stake costing US$4 million in a Norwegian startup, GraviFloat AS, which plans to carry out design
      435 words
    • Article
      Lock icon Sembawang Shipyard, GasLog unit ink long-term contract
      285 6  -  By MALMINDERJIT SINGH msingh@sph.com.sg @MalminderjitBT SEMBAWANG Shipyard has secured a long-term favoured customer contract (FCC) from GasLog LNG Services, boosting Singapore’s status as a major global LNG hub. The wholly owned subsidiary of Sembcorp Marine (Sembmarine) will provide shiprepair, refurbishment, upgrading and related
      285 words
    • Article
      Lock icon Prospects better for O&M firms with int’l exposure
      723 7  -  Those able to satisfy local requirements in a better position to grow: OCBC study By MALMINDERJIT SINGH msingh@sph.com.sg @MalminderjitBT OFFSHORE marine companies in Singapore with strong exposure to key international markets have brighter prospects, especially if they have access to protected markets.
      723 words
    • Article
      Lock icon Swiber wins US$80m deal in Latin America
      218 7  -  By SHARON LEE leecmei@sph.com.sg SWIBER Holdings has won a US$80 million engineering, procurement, installation and construction contract in Latin America for subsea development work. The project is expected to be completed in 2015. The deal comes after the group won contracts worth US$235
      218 words
    • Article
      Lock icon Chip Eng Seng unit secures $165m HDB contract
      312 7  - Chip Eng Seng unit secures $1 65m HDB contract BY LYNETTE KHO0 |ynkhoo@sph.com.sg @LynetteKhooBT CONSTRUCTION company Chip Eng Seng’s wholly owned unit, Chip Eng Seng Contractors (1988), has secured a $165 million HDB contract for building works in Sembawang. The building works, to be carried out over 36 months, cover
      312 words
    • Article
      Lock icon HanKore seals $1.2b reverse takeover deal
      381 10  -  Group will be enhanced with wastewater treatment assets from China Everbright unit By LYNETTE KHOO lynkhoo@sph.com.sg @LynetteKhooBT A REVERSE takeover (RTO) deal that will beef up mainboard-listed HanKore Environment Tech with wastewater treatment assets from a Chinese state-owned enterprise has been inked. HanKore said
      381 words
    • Article, Illustration
      Lock icon BROKERS’ TAKE
      701 10  -  Compiled by JOYCE HOOI Oil and Gas OCBC Investment Research, June 2 FOLLOWING news reports of planned cutbacks in capital expenditures by major oil companies, we looked at the individual capital expenditure (capex) guidance figures by various companies, as well as analysts’ estimates for the next three years,
      Source: Bloomberg  -  701 words
    • Article
      Lock icon W Corp receives in-principle approval for RTO of YuuZoo
      411 10  -  Proposed $490.9m deal downsized from $582.3m By LYNETTE KHOO lynkhoo@sph.com.sg @LynetteKhooBT SINGAPORE could soon see the first public listing of a social networking platform if YuuZoo Corporation’s back-door listing on the Singapore Exchange (SGX) successfully goes through. W Corporation, formerly Contel
      411 words
    • Article
      Lock icon DeClout unit looking to buy Netipay for $4.72m
      254 10  -  By RAPHAEL LIM raphlim@sph.com.sg DECLOUT Ltd’s wholly owned subsidiary, Corous360, is looking to acquire the entire issued and paid-up share capital of Netipay Pte Ltd for a purchase consideration of approximately $4.72 million. In a statement on Saturday, DeClout said that Netipay
      254 words
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      Lock icon Page 6 Advertisements Column 1
      369 6 Communlohsla2014 www.CommunicAsia.com 17-20 June 2014 Basement 2, Level 1 3 Marina Bay Sands, Singapore Experience connectivity and mobility at work, home and play! Over 1,300 international exhibitors will be showcasing their latest innovative solutions at Asia’s largest info-communications technology event. Exciting events are lined-up exclusively for you... Witness innovative products
      369 words
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      Lock icon Page 6 Advertisements Column 2
      19 6 Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices
      19 words
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  • Page 7 Advertisements
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      159 7 NIKKEI NIKKEI Asian Review Forum in Singapore Asia’s New Era of Opportunity and Cooperation Asia's importance as a global economic growth engine will only increase as ASEAN continues to integrate, develop its infrastructure and nurture a swelling middle class. The Nikkei forum will bring together high-ranking government officials, business executives
      159 words
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      192 7 WORLD’S FINEST SERVICED OFFICES SERVICED OFFICES For the 1-10 person business v Fully furnished prestigious offices v Business registration offices available v Dedicated receptionist answering your calls the way you would like v Meeting rooms, bilingual secretaries v Global IT infrastructure v 5 days free at any location across the
      192 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon STI rises, but losers pip gainers
      562 8  -  Narrowly focused market sees investors zero in on company-specific news STOCKS KENNETH LIM kenlim@sph.com.sg @KennethLimBT Correspondent SINGAPORE investors homed in on compa-ny-specific events yesterday to give the first trading session of June a spotty finish. QT Vascular (QTV) gained as CIMB initiated research coverage
      Source: Bloomberg  -  562 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Jun 2 VALUE CLOSE BT OB/OS 352.00 -54.00 BT CADI -*****.00 -31.00 BT 10-day MA -*****.00 +35.00 FTSE ST Mid Cap 772.63 -0.80 FTSE ST Small Cap 558.47 +0.14 FTSE ST All Share 804.13 +1.06 FTSE ST China Top 202.48 -0.13 FTSE ST China 231.65 -0.09 FTSE
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    • Article
      Lock icon MOST ACTIVE STOCKS
      66 8 VOLUME Amplefield 60,699,000 QT Vascular 51,916,000 Far East HTrust 49,863,000 Swing Media Tech 44,991,000 Charisma Energy 41,346,000 YZJ Shipbldg SGD 40,889,000 Elektromotive 39,718,000 KLW Hldgs 36,057,000 Federal Int 32,369,000 Scintronix 29,705,000 VALUE($) YZJ Shipbldg SGD 42,881,390 Far East HTrust 42,394,910 OCBC Bank 37,954,539 DBS Grp 33,323,385 SingTel
      66 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 5 4 0 0 0 5 5 4 Manufacturing 40 62 34 8 7 8 48 69 42 Commerce 19 21 19 4 4 4 23 25 23 Tpt/Stor/Comms 11 17 13
      186 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 23,040 23,040 45,352 45,352 Manufacturing 372,502 154,428 526,930 148,898 27,816 176,714 Commerce 84,861 61,645 146,506 65,178 6,613 71,790 Tpt/Stor/Comms 127,577 1,496 129,073 146,125 183 146,308 Finance 13,336 144 13,480 115,867 43 115,910 Construction 30,999 74,129
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    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      120 8 Stock name Close Change CapitaLand 3.190 CapitaMall Trust 2.060 -0.010 CapitaMalls Asia 2.360 +0.010 CityDev 10.430 +0.070 ComfortDelGro 2.330 DBS Grp 16.920 +0.020 Genting Sing 1.345 Global Logistic 2.770 -0.010 Golden Agri-Res 0.570 -0.005 HPH Trust USD 0.740 -0.010 HongkongLand USD 6.990 -0.030 JMH 400 USD
      120 words
    • Article, Illustration
      Lock icon Expectations of ECB stimulus hit euro
      436 8 CURRENCIES Reuters [LONDON] The euro fell against the US dollar yesterday, as investors and speculators braced for further monetary stimulus from the European Central Bank (ECB) this week and added to bets against the common currency. Currency speculators increased short positioning on the euro
      Reuters; PHOTO: BLOOMBERG  -  436 words
    • Article
      Lock icon RISES
      120 8 BY CENTS CLOSE UP Lyxor ThaiSET 10US$ ***** 238.7 1.5 SPDRS S&P 500 10US$ ***** 124.4 0.5 DBXT MSJAP 10US$ 4589 99.3 1.8 SPDR DJIA 10US$ ***** 60.3 0.3 DBXT MSTHAI 10US$ 1935 44.0 1.8 DBXT iBoxxSvEu 5US$ ***** 40.2 0.1 DBXT MSUSA 10US$ 4804 28.9 0.5 DBXT MSKorea
      120 words
    • Article
      Lock icon FALLS
      129 8 BY CENTS CLOSE DOWN Lyxor Indonesia10US$ 8794 -256.3 -2.3 DBXT AUDCS 5US$ ***** -173.4 -0.7 GLD 10US$ ***** -123.1 -0.8 DBXT AUDCS 5SG$ ***** -113.0 -0.5 DBXT iBoxxKR 5US$ ***** -106.8 -0.5 DBXT FTVietnam 10US$ 2739 -75.4 -2.1 DBXT MSINDO 10us$ 1395 -50.3 -2.8 DBXT Nifty 10US$ ***** -50.3
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 8 DAILY
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      148 8 I CHOOSE THE PATH. IG PROVIDES THE PLATFORM" G FX TIGHT SPREADS oil y: 7) -V TRADE YOUR WAY WITH SINGAPORE'S No.l FX PROVIDER* Whatever your forex trading style, we have the platform, tools and technology to support you. Get competitive spreads from 0.8 pips, and use our award-winning mobile
      148 words
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  • Page 9 Advertisements
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      573 9 SEMBAWANG SHIPYARD A Subsidiary of Sembcorp Marine Ltd Jointly Announce the signing of our Ship-Repair Favoured Customer Contract The contract, signed recently in Greece, commits the repairs of GasLog's fleet of LNG carriers trading in the Far East to Sembawang Shipyard. The long-term FCC contract also commits to joint planning,
      573 words
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  • Page 10 Advertisements
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      161 10 Malaysia 14th June 2014, Saturday 8.30am 4.30pm NTUC Auditorium Level 7, No 1, Marina Boulevard, One Marina Boulevard, Singapore *****9 PRESENTING MALAYSIA LISTED COMPANIES IN SINGAPORE Unearth Opportunities from Malaysia Listed Companies in 2nd Half of 2014 EVENT HIGHLIGHTS: Investment Merits Presentations by listed companies from Malaysia. GD Express Carrier
      161 words
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      66 10 www.comexshow.com.sg SINGAPORE’S LARGEST I.T, DIGITAL, MOBILE, CONSUMER ELECTRONICS EXHIBITION IS BACK! 28 31 August 2014 SUNTEC Singapore Levels 3, 4 6 Sell your tech products services to over 600,000 consumers directly Leverage on an unrivalled publicity campaign Book Your Space NOW! *Limited BoothsAvailable (ORGANISER OF IT SHOW, FOOD BEVERAGE FAIR,
      66 words
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      107 10 I A Culinary Institutes r. Kitchen Equipment Institutional Caterer Are you a vendor for any of the above categories? Food Services > in Asia 2014^ c S.b r® I Better Selections 23 -25 June 2014 Suntec, Singapore Looking for More Business Opportunities in the Healthcare Sector? Our event provides you
      107 words
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      8 10 A IN THE MORNING WEEKDAYS 6flM-10flM-D facebook.com/kiss92fm www.kiss92.sg
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  • ASIAN LEADERS
    • Article, Illustration
      Lock icon En route to a billion-dollar empire
      1220 11  -  With a penchant for dreaming big and a knack for innovation, G S Sareen is on course to steer Singapore-based Omni United into the big league of the tyre game, reports FRANCIS KAN reportsFRANCIS reportsFRANCIS KAN GS Sareen doesn’t believe in doing things by
      JOHN HENG  -  1,220 words
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      89 11 pnwb \sn!-t W&rtsbg fi* f' s /u?f Us*t(rkj fix' IjOk. jj>rfo O&lMctTan Su Shan Managing Director and Group Head DBS Bank Outstanding Private Banker of the Year, Global 2013, Private Banker International Best Local Private Bank, Singapore 2014, Euromoney Start a conversation with us at +65 6227 7188. Asia's Safest,
      89 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Going green ‘should not hurt taxpayers, growth’
      531 12  -  OECD projections suggest climate change can dampen world GDP by 2.5% WATER WEEK By RAPHAEL LIM raphlim@sph.com.sg GOING green need not necessarily have a negative impact on taxpayers and a country’s growth, but failing to do so could result in a slowdown in
      531 words
    • Article
      Lock icon EZ-travel in S’pore, Taiwan soon
      300 12  -  By LESTER WONG lesterw@sph.com.sg A NEW multi-functional, dual-currency contactless card that can be used in both Singapore and Taiwan will be available in as early as a year’s time. This comes after EZ-Link Pte Ltd signed a memorandum of understanding (MOU) yesterday with Taiwanese contactless
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    • Article
      Lock icon Firms save over $44m from reducing packaging waste
      462 12  -  BY. VIVIEN SHIAO vshiao@sph.com.sg @VivienShiaoBT FIRMS in Singapore made over $44 million in cost savings by reducing the amount of packaging waste used since the first Singapore Packaging Agreement was inked in 2007. Spearheaded by the National Environment Agency (NEA), the Singapore
      462 words
    • Article
      Lock icon Feedback sought on bill to re-enact BR Act
      344 12  -  By MICHELLE QUAH By michquah@sph.com.sg@MichelleQuahBT THE government wants the public’s feedback on its draft Business Names Registration Bill, which will repeal the Business Registration (BR) Act and re-enact it with amendments as the Business Names Registration Act. The BR Act was enacted
      344 words
    • Article
      Lock icon Using data analytics to manage train disruptions
      427 12  -  LTA, SMRT, StarHub, IBM to study this in a 2-year project SMART CITIES BX SHEENA TAN t§heena@sph.com.sg DATA from video footage in train stations, telecommunications and fare cards will be used in combination to help the authorities manage train breakdowns more effectively down
      427 words
    • Article, Illustration
      Lock icon 32 CEOs paired with 32 World Cup teams
      673 12  -  By CHERYL TAN tansyc@sph.com.sg CHIEF executives here who volunteered to help raise funds in the BT-Coca-Cola World Cup Charity Drive yesterday underwent a drawing to be paired with the competing teams in soccer’s event of the year. With 32 participating countries to
      PHOTO: YEN MENG JIIN  -  673 words
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  • SME Inc
    • Article, Illustration
      Lock icon Merging marketing, IT skills to deliver
      969 13  -  Data analytics firm CPR Vision has come a long way from the one-man set-up operating out of its founder and CEO’s bedroom in 2002, reports LESTER WONG reports LESTER WONG way.” lesterw@sph.com.sg PROVIDINGthe sizzle with the substance that is how CPR Vision’s chief executive
      PHOTO: ARTHUR LEE  -  969 words
    • Article, Illustration
      Lock icon Hedging risks in markets with limited currency convertibility
      1079 13  -  THE VIEW FROM NTU PROFESSORS By KONG YOON KEE The writer is a senior lecturer of banking and finance at NTU’s Nanyang Business School CURRENCY fluctuations are an inevitable risk that companies and investors bear when they seek greater fortunes beyond their
      1,079 words
  • Page 13 Advertisements
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      69 13 Flexible working Investment opportunities for your property K ST ym thi H m m Maximise the potential of your property by becoming part of the world’s largest flexible workspace network. We’re interested in a whole range of space, including traditional office buildings but a lot more besides from the CBD
      69 words
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon Consortium wins deal to build power plant
      515 14  -  But Public Bank decries move to award IPP through direct negotiations By in Kuala S JAYASANKARAN in Kuala Lumpur MALAYSIA’S Energy Commission has awarded a fast-tracked independent power plant (IPP) development to a consortium of three companies through direct negotiations, said media reports
      515 words
    • Article, Illustration
      Lock icon KL mulls ideas to limit sale of subsidised fuel
      554 14  -  New distribution system likely in the coming months By in PAULINE NG in Kuala Lumpur IN a bid to counter the rampant smuggling of subsidised fuel, Malaysia is preparing a new multi-tier distribution system that better confines the benefit to locals
      ST FILE PHOTO  -  554 words
    • Article
      Lock icon Indonesia posts big April trade deficit on ore export ban
      336 14 AFP [JAKARTA] Indonesia unexpectedly posted a huge trade deficit in April as a controversial ban on mineral ore exports weighed on South-east Asia’s biggest economy, official data showed yesterday. A jump in imports in the Mus-lim-majority country ahead of the
      AFP  -  336 words
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      98 14 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 OF
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  • CHINA/INDIA
    • Article, Illustration
      Lock icon India’s PMI hits 3-month high in May: survey
      468 15 New orders jump to 53.2 from April’s 52.5; overall factory output picks up pace AFP [NEW DELHI] Indian manufacturing orders hit a three-month high in May, suggesting stronger output in the coming months, as overall factory output growth picked up pace slightly,
      AFP; PHOTO: BLOOMBERG  -  468 words
    • Article
      Lock icon India’s global bond sales rally to new high
      598 15 Bloomberg [MUMBAI] Global bond sales from India have jumped to a five-quarter high amid the lowest borrowing costs since 2007, and investors say that the debt has room to rally as the new government delivers on election promises. Bharti Airtel and State
      Bloomberg  -  598 words
    • Article
      Lock icon J&J, rivals among firms fined 19.6m yuan in China
      308 15 Penalty is for price fixing in contact lens, eye-glass mkt Bloomberg [SHANGHAI] Johnson Johnson (J&J), the world’s biggest health-care products maker, and Bausch Lomb Inc were among firms fined a combined 19.6 million yuan (S$3.9 million) for price fixing in the
      Bloomberg  -  308 words
    • Article
      Lock icon Banks show little interest in RBI’s reverse repo auction
      416 15 Reuters [MUMBAI] India’s first term reverse repo auction to drain cash met with a poor response as expected yesterday as market participants believed liquidity was not as flush as the central bank was anticipating. The Reserve Bank of India (RBI) allotted
      Reuters  -  416 words
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      213 15 PCM, Oil Gas and General Manufacturing B£ EfflBrea iqStiraiKi LOTyStrategieTfo^ProSuctivityilmprovementl About OMNI The WSQ Operations Management Innovation (OMNI) Programme was launched on 3 rd August 2010 by Mr Lee Yi Shyan, Senior Minister of State, Ministry of Trade and Industry and Ministry of National Development, This programme is Jointly organised
      213 words
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      85 15 26 29 June 2014 SUNTEC Singapore Halls 401 404 Looking to sell your food products, cooking solutions, kitchen appliances accessories to an expected turnout of 250,000 visitors? fb.com/singaporefoodshows Book Your Space NOW! *Limited Booths Available For more information call *****620 or Email: sales@exhibitsinc.com.sg foodandkitchen.com.sg Organised By: Our Food Shows: (Organiser
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      120 15 Singapore Gifts Premiums Fair 2014 16-18 July 2014 Marina Bay Sands, Singapore See a huge variety of new and innovative products on display, providing inspirational promotional ideas! Free Admission! Register at www.SGPFair.com/visitl 1* To Exhibit: Email: SGPFair@bizlink.com.sg Tel: (65) 6848 5939 www.SGPFair.com Organised By: BH I I K I Join
      120 words
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  • WORLD
    • Article, Illustration
      Lock icon S&P 500 index surges but volumes are at 6-year low
      1066 16 Scepticism shows investors distrust rally built on Fed stimulus: analyst Bloomberg [NEW YORK] Lately, the higher the Standard Poor’s (S&P) 500 Index goes, the less investors care. About 1.8 billion shares traded each day in S&P 500 companies last month,
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      Lock icon Dai-ichi Life in talks to buy US life insurance company
      833 16 Reuters [TOKYO] Japanese insurer Dai-ichi Life is in advanced talks to buy US peer Protective Life Corp in a deal that could be worth over US$5 billion, extending a drive to buy assets abroad as an antidote to a weak
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    • Article
      Lock icon Eurozone PMI slows to 52.2 in May
      603 16 French manufacturing contracts; Spain, Italy, UK show strong performances Bloomberg Reuters [ZURICH] Manufacturing in the euro area slowed more than initially estimated in May amid weakness in France, adding to evidence of the region’s uneven recovery as the European Central Bank weighs more
      Bloomberg; Reuters  -  603 words
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      Lock icon Thai junta plans urgent measures to lift economy
      667 17 Special economic zones to be set up on borders with M’sia, Myanmar and Laos Reuters [BANGKOK] The military rulers running Thailand have drawn up a list of emergency measures such as price caps on fuel and loan guarantees for small firms to
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    • Article
      Lock icon Osborne plans to bolster FX market oversight
      248 17 Bloomberg [LONDON] UK Chancellor of the Exchequer George Osborne is preparing to announce plans to boost oversight of the foreign exchange market following allegations traders colluded to manipulate the US$5.3 trillion-a-day market. The measures are being considered in conjunction with the Financial Stability
      Bloomberg  -  248 words
    • Article
      Lock icon Wide measures in Abe’s draft plan for growth
      174 17 Reuters [TOKYO] Japan’s government will adopt a new corporate governance code, promote technology from service-sector robots to hydrogen stations for cars, and court private investment for infrastructure, according to a draft plan of Prime Minister Shinzo Abe’s growth strategy. Those measures and
      Reuters  -  174 words
    • Article
      Lock icon Screws tighten around data for ECB’s reviews of banks
      754 18 Central bank imposes strict curbs to prevent insider trading or damage to financial stability Reuters [LONDON] It would be an insider trader’s dream to know ahead of time which of Europe’s banks will fail or need more capital, and all that
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    • Article, Illustration
      Lock icon EU pensioners’ future safety net under threat
      901 18 Current generation still able to help their grown-up kids Reuters [MADRID] When Angel Gomez and Maria Luisa Fernandez retired a decade ago, they imagined spending their pensions largely on restaurant meals, holidays and toys for the grandkids. Today, their retirement money helps to
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    • Article
      Lock icon Japan’s firms hike capital expenditure in January-March
      487 18 Reuters [TOKYO] Japan’s companies raised capital expenditure in January-March for a third straight quarter, suggesting that revised data will show the economy maintained its fastest growth in more than two years. The 7.4 per cent year-on-year rise in capital expenditure followed a 4.0
      Reuters  -  487 words
    • Article
      Lock icon Gokongwei’s Robinsons Retail to spend 26b pesos on expansion
      806 18 Bloomberg [MANILA] Billionaire John Gokongwei is scouting chains of mom-and-pop outlets to buy into faster-grow-ing Philippine towns as part of a plan to compete with retail stores controlled by the country’s richest man, Henry Sy. Robinsons Retail Holdings is looking for
      Bloomberg  -  806 words
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      Lock icon Brazil sell-off exposes BRIC rally’s weakness
      852 19 It shows that across Brazil, Russia, India and China, growth is slowing Bloomberg [SINGAPORE] The sell-off in Brazil’s stocks and currency on the final trading day of May wiped out what was to be the first pan-mar-ket monthly advance in the four biggest developing
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    • Article
      Lock icon AstraZeneca’s new drugs make revenue forecast credible: CEO
      702 19 Two new cancer drugs help fuel US$45b projection Bloomberg [LONDON] Newly reported data for AstraZeneca plc’s experimental cancer treatments “gives credibility” to the drugmaker’s forecast of US$45 billion in annual revenue by 2023, according to chief executive officer Pascal Soriot. The release
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      510 16 The Business Times Ik I f 1 1 Toll free 1800-289-8822 I I I m Email noticesgSsph.com.sg J I I j ij www.sphclass.com.sg/notices >:\)}[=}/('-%!.)!':"&:{;/_'@*.\ IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF LION IDEMITSU COMPOSITES (SINGAPORE) PTE. LTD. (IN MEMBER’S VOLUNTARY LIQUIDATION) (Company Registration
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      2254 17 The Business Times L T/^VT'T/nj 1 P Toll free 1800-289-8822 M I I Email notices@sph.com.sg J B V j B j il www.sphclass.com.sg/notices AUTOMATED TOUCHSTONE MACHINES LIMITED (Company Registration No. *****9457N) (the “Company”) (Incorporated in Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBYGIVEN that theAnnual General Meeting ofAutomatedTouchstone Machines
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      156 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF QING YE INTERIOR (PRIVATE) LIMITED (In Liquidation) Reg. No. *****2931D NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the members of the abovenamed Company duly convened and held at 164 Bukit Merah Central #03-3655 Singapore
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      58 18 HOT PROPERTY ©*H«I Storage tractive at $fso nff Optmal racking/Fitteci^nS zflmrned*' Rareh Tr ade_Hu b p/ fiftpH r ely avai1 2927 sf. tted Cor| venient. Hurry!! excal/bur CENTRE i-j fitted, GS S'ooT n °r FACTORY SPACE FOR RENT Check this and many other properties in The Straits Times Classified now!
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      371 19 THE BIGGEST CAREER FAIR IS BACK AGAIN FREE BOOTH* AT STJOBS CAREER DEVELOPMENT FAIR 2014! REQUEST NOW LIMITED BOOTH AVAILABLE Be part of Singapore's biggest and most exciting event with job seekers, employers and training providers all under one roof. Here's your opportunity to recruit talents and attain high brand
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  • EDITORIAL & OPINION
    • Article
      Lock icon No need for US progressives to bash trade
      473 20 EDITORIAL MEMBERS of the US Democratic Party’s progressive wing, in response to widening economic inequality, are advocating more government activism to help the struggling middle class. Indeed, the populist message of the progressives with its emphasis on the need to raise tax
      473 words
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      Lock icon Bank on ECB’s Draghi to dispel spectre of deflation
      833 20  -  THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group MARIO Draghi can’t get no respect. The head of the European Central Bank (ECB) is routinely criticised for being too timid in stimulating Europe’s weak economy. The ECB is widely expected
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      Lock icon Water Week needs speakers who can add value
      1242 20  -  Discussions and formats at Water Leaders’ Summit have been consistently pedestrian By ASIT K BISWAS The writer is a distinguished visiting professor at the Lee Kuan Yew School of Public Policy, and co-founder of the Third World Centre for Water Management. He
      PHOTO: AFP  -  1,242 words
    • Article, Illustration
      Lock icon Digital cities for digital citizens
      871 21  -  Besides technology, a citizen-centric approach to city design and service delivery is a must to provide benefits By SIMON GILES The writer is global lead for Intelligent Cities at Accenture Health Public Service CITIES are growing at an unprecedented speed. Over half the world’s population
      PHOTO: AFP  -  871 words
    • Article
      Lock icon Green growth: Securing the future of business and the environment
      869 21  -  By GREG CLARK The writer is Minister of State for Cabinet Office (Cities Constitution), UK Sustainable economic development is now a key goal of many governments around the world, including for Singapore and the United Kingdom. The reasons for this
      869 words
    • Article
      Lock icon Review rules on takeovers and privatisations
      599 21 LETTER TO THE EDITOR MICHAEL Dee has written two very good analyses on the recent takeover offer for CapitaMalls Asia (CMA) by Capitaland (CL): “CMA shareholders should stand their ground against ‘fair offer’” in BT of April 22 and “Offer for CMA is still
      599 words
    • Article
      Lock icon Making a painless transition in IFRS convergence
      702 21  -  By MAK KEAT MENG The writer is head of Assurance at EY in Singapore; the views in this article do not necessarily reflect the views of the global Ernst Young organisation or its member firms ON May 29, 2014, the Singapore Accounting Standards
      702 words
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  • AVIATION/SHIPPING
    • Article, Illustration
      Lock icon Boeing in talks with Emirates over sale of 747-8
      603 22 Deal would be big boost for an aircraft that’s struggled to gain customers Bloomberg [TOULOUSE] Boeing Co is talking to Emirates, the world’s biggest operator of the Airbus A380 superjumbo, about a potential sale of its rival 747-8, in what would
      Bloomberg; PHOTO: BLOOMBERG  -  603 words
    • Article
      Lock icon Emirates keen on engine upgrade for A380 jets
      320 22 Reuters [DOHA] Dubai’s Emirates airline, the largest customer for the Airbus A380, yesterday said it hoped to achieve progress soon on its call to upgrade the world’s biggest passenger jet with new engines. Emirates has expressed interest in applying the lessons of
      Reuters  -  320 words
    • Article, Illustration
      Lock icon 100 years on, flying still begs for open skies
      737 22 Iata chief calls for easing of ownership and merger rules Reuters [DOHA] On New Year’s Day, 1914, Abe Pheil squeezed into the open cockpit of a Benoist Type XIV boatplane in St Petersburg, Florida and became the world’s first airline passenger,
      Reuters  -  737 words
    • Article
      Lock icon TRANSPORT STOCKS
      244 22 SGX '000 Jun 02 S$ +/-Vol Ch Offshore 0.43 0.01 70 Chuan Hup Hldg 0.29 0.01 300 Cosco Corp 0.73 unch 521 Cwt Limited................1.76 -0.01 796 First Ship Lea 0.09 -0.01 180 Grand Banks unch unch 0 Jaya Hold Ltd K1Ventures Chuan Hup Hldg.. Keppel Corp 10.67 0.04
      244 words
    • Article
      Lock icon Etihad closer to investment deal with Alitalia
      554 22 NYT [PARIS] After more than five months of negotiations, Etihad Airways of Abu Dhabi confirmed on Sunday that it was nearing an agreement that could lead to a sizeable investment in Alitalia. In a joint statement, the airlines said Etihad would formally submit
      NYT  -  554 words
    • Article
      Lock icon Pirates free Thai tanker after stealing oil cargo
      132 22 AFP [KUALA LUMPUR] Pirates have released an Indone-sian-bound Thai tanker after stealing its oil cargo, in the latest attack in South-east Asian waters, the International Maritime Bureau (IMB) said yesterday. MT Orapin 4, with 14 crew aboard, arrived at Sri Racha Port
      AFP  -  132 words
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  • Page 22 Miscellaneous
    • Miscellaneous
      Lock icon Page 22 Miscellaneous Column 1
      321 22 CRYPTIC CROSSWORD Across 1 Follow a daughter during demonstration (6) 5 Charge made by model after I married (6) 10 Unsuitable home, small apartment (5) 11 Mad place for colours? (2,3,4) 12 Touch of sickness developed, so got into bed (7) 13 Extremist spoke about onset of change (7) 14
      321 words
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  • Article
    Lock icon SHIPPING TIMES
    1203 23 Papua New Guinea Australia New Zealand New Caledonia Fiji all other Pacific Islands Dili (East Timor) Guam (Mariana Islands) Honolulu (Hawaii) THE CHINA NAVIGATION CO. PTE. LTD. 300 BEACH ROAD #02-02 THE CONCOURSE SINGAPORE *****5 Main Line: 6603 9550 FAX: 6603 9566 THE BEST TRANSIT TIME FROM ASIA
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      77 23 Experienced sh/p maintenance findyou y r services services wanted, heremthe Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 The Business Times mi. uuJII.LJJ IIIVILJ Shipping Times Legal services required by shippers owners TO ADVERTISE, CALL JOE WONG AT 9620 Can they find your services here in the Shipping
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      3966 24 Transaction date: Jun 2 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 13.3 10.4 8Telecom Vol Day Last Quote --AAT Net M Cap 13.6 6.7 AIMS Property 13.3 +0.3 100 13.3 13.3
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      Lock icon SGX CATALIST
      289 25 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 32 23 t 3Cnergy 500 Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale (‘000) High Low Buyer Seller
      289 words
    • Article
      Lock icon UNIT TRUST & FUNDS
      10911 25 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** APS Alpha APS Alpha Aberdeen Asset Mgt Asia Limited d 1.56/ und (USD)!** 1.25/ Aberdeen Asset Mat Asia limited 0 9872/ China Opportunities 2 8831/ Malaysian Equity USD!** Pacific Equity USD!** *****/ S'pore Equity USD!**
      10,911 words
    • Article
      Lock icon GLOBALQUOTE
      236 25 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Low Company 343 191 TanChongInt HK342cd +4 432 343 338 342 343 9.7 3.1 3.4 6887.5 DISCLAIMER: All information is published “as is” without warranty of any
      236 words
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      Lock icon SGX ETF
      1124 25 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 119 108.3 ABF SG Bond ETF 115.1 +1.1 10 115.2 115.1 114 115.1 525.4 138.7 119 CIMB APAC Div 100S$D 130.6 129.4 132 108.9 94 CIMB
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      640 26 Jun 2 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.51 *****.91 *****.51 Jun14 *****.00 *****.00 *****.00 *****.00 ***** *****2 Sep14 *****.00 *****.00 *****.00 *****.00 288 9492 MSCI TAIWAN INDEX FUTURES SPOT 326.27 327.25 323.80 Jun14 324.00 324.60 323.50 ***** *****0 Jul14 318.90 319.00
      640 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 26 In local curr In S$ In US$ dy yr dy yr dy yr May 30 Index Change Change Change Change Change Change World Preliminary 1219.0 0.0 2.9 0.0 2.4 0.0 3.2 EAFE Preliminary 968.9 -0.1 1.3 0.0 1.4 0.0 2.1 Europe Preliminary 1410.2 -0.1 4.1
      373 words
    • Article
      Lock icon INTERBANK CROSS RATES
      471 26 Jun 2 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.005 5.783 0.680 7.177 54.772 108.920 0.944 9.479 2.986 1.094 91.139 40.523 1.163 9.812 0.831 27.813 30.438 0.552 0.926 Canada 0.995 5.756
      471 words
    • Article
      Lock icon SIBOR
      39 26 Jun 2 (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 6 mths Source: Thomson Reuters
      39 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      80 26 Jun 2 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-16 101.29 5-Year NX*****W 2.5 01-Jun-19 105.76 10-Year NX*****H 2.750 01-Jul-23 104.12 104.10 104.05 15-Year
      80 words
    • Article
      Lock icon PRECIOUS METALS
      120 26 Jun 02 GOLD(US$/oz) May 30 May 29 Hong Kong 1255.00 1259.00 May 30 May 29 London 1244.40 1258.29 1244.92 1259.01 Source: Thomson Reuters CAST BAR Jun 02 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 77 48 5gm 303 249 10gm 564 500
      120 words
    • Article
      Lock icon PALM OIL
      57 26 Jun 2 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 14 2421.0 2422.0 2422.0 2395.0 66 1088 Jul 14 2414.0 2420.0 2423.0 2390.0 2495 ***** Aug 14 2410.0 2416.0 2419.0 2386.0 ***** ***** Sep 14 2410.0 2414.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 26 Jun 2 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1628 1.1636 0.9254 0.9258 Canadian dollar 1.1572 1.1582 0.9215 0.9210 Euro 1.7090 1.7098 1.3601 1.3603 NZ dollar 1.0631 1.0642 0.8461 0.8467 Sterling pound 2.1053 2.1064 1.6755 1.6759
      155 words
    • Article
      Lock icon CHICAGO BOT
      109 26 May 30 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 14 1493.25 1499.00 1506.50 1490.00 Aug 14 1424.50 1432.75 1437.50 1421.00 Sep 14 1285.75 1296.50 1300.75 1282.75 Nov 14 1233.75 1244.25 1248.75 1231.00 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 14
      109 words
    • Article
      Lock icon LIFFE
      94 26 May 30 COCOA (£/tonne) Close Prev High Low Jul 14 1950 1932 1952 1931 Sep 14 1932 1921 1934 1920 Dec 14 1915 1903 1917 1903 Mar 15 1906 1895 1907 1897 COFFEE(US$/tonne) Close Prev High Low May 14 1948 1948 1929 1869 Jul14 1937 1949 1941 1910 Sep
      94 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1151 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 4 0.3 1 -54 3.92 49 Asia-Pacific Strategic W*****6 3.1 -0.1 3402 1 2 59 Ratio Albedo Limited W*****9 Price Asiatic Grp(Hldgs) Ltd W*****5 Disc Asiatravel.com HoldingsW*****7 7
      1,151 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 26 CRUDE OIL PRODUCTS May 30 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 109.56 -0.94 WTI (Near Mth) 102.76 -0.78 Dubai (1-Mth F) 105.89 -0.20 Tapis blend 113.36 0.05 Minas 108.76 0.05 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 105.39 -0.33 Jet Kerosene 118.46 -0.73 US$/barrel OpecOil Basket
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    • Article
      Lock icon US$/S$ FORWARD RATES
      22 26 Jun 2 S$ Bid Offer 1-month 1.2565 1.2569 2-months 1.2565 1.2569 3-months 1.2565 1.2569 6-months 1.2563 1.2567 Source: OCBC
      22 words
    • Article
      Lock icon LONDON METALS
      66 26 May-30 May-30 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1806.50 1810.00 3 months 1838.00 1845.00 Copper, Grade A(US$/tonne) Cash 6919.00 6973.00 3 months 6845.00 6884.00 Lead(US$/tonne) Cash 2069.75 2095.50 3 months 2095.00 2122.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 26 As at 9am Jun 02 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.194 1.138 Can dollar 1.178 1.133 Euro 1.749 1.666 Sterling pound 2.141 2.059 NZ dollar 1.089 1.048 US dollar 1.281 1.220 Local dollars to 100 units of foreign
      121 words
    • Article
      Lock icon INTERBANK RATES
      157 26 Jun 2 $S Offer Bid 0vernight 0.01 par 1-month 3/8 1/4 2-months 3/8 1/4 3-months 7/16 5/16 Overnight mode: 0.01 US$ Offer Bid 7 days 0.18 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 12
      157 words
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  • PROPERTY
    • Article, Illustration
      Lock icon Record price sought for New York’s Woolworth Building penthouse
      958 27 Developers seeking US$110m for the unit at the top of the 58-storey tower Bloom berg [NEW YORK] Lower Manhattan’s landmark Woolworth Building, once the tallest skyscraper in the world, is setting another record. Developers are seeking US$110 million for the penthouse
      Bloomberg; PHOTO: BLOOMBERG  -  958 words
    • Article
      Lock icon Smaller rise in Dubai home prices after cooling measures
      377 27 Bloom berg [DUBAI] Dubai home price gains slowed in the first quarter after financial authorities took steps to cool the booming market, broker Knight Frank LLP said. Values in the emirate rose 3.4 per cent, less than Lithuania, Estonia and Malta,
      Bloomberg  -  377 words
    • Article
      Lock icon Credit Suisse to sell German properties valued at 700m euros
      253 27 Bloomberg [BERLIN] Credit Suisse Group AG is selling commercial buildings in Germany valued at about 700 million euros (S$1.2 billion) as it liquidates property mutual funds in the country, two people with knowledge of the matter said. Brookfield Financial is
      Bloomberg  -  253 words
    • Article, Illustration
      Lock icon Soaring land values worsen London’s housing shortage
      553 28 Housing plots in city now cost 27% more than their pre-crash peak in 2007: report Bloomberg [LONDON] Land prices are soaring in central London, making it more difficult for developers to supply homes that residents can afford and reducing Mayor Boris Johnson’s chances
      Bloomberg; PHOTO: BLOOMBERG  -  553 words
    • Article
      Lock icon UK mortgage approvals at 9-month low
      386 28 April’s net mortgage lending rises by £1.7b from March Bloomberg [LONDON] UK mortgage approvals fell more than economists forecast in April, dropping to the lowest in nine months as banks tightened lending rules. Approvals declined to 62,918 from 66,563, the Bank of England (BOE)
      Bloomberg  -  386 words
    • Article
      Lock icon UAE banks raising exposure to property market
      328 28 Bloomberg [DUBAI] Banks in the United Arab Emirates are increasing exposure to the country’s booming real estate industry betting that, five years after property values slumped and non-per-forming loans soared, this time it will be different. Lending to the construction segment climbed 40
      Bloomberg  -  328 words
  • Page 27 Advertisements
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      Lock icon Page 27 Advertisements Column 1
      233 27 Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your IPOs other offerings AMPAS APARTMENT Land 2809.3 sq m Resident GPR 2.8, up to 36 storey Freehold tenure. Regular shape Centrally located in Singapore. Within walking distance to Novena Medical Centre, shopping mall, market and other amenities. Easy access to
      233 words
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      Lock icon Page 28 Advertisements Column 1
      32 28 SELLING YOUR CAR? POSTANAD ONSTCars.sg FORFREE! Doitvia www.stcars.sg/place-adnow! i i And browse over25,000new, used cars commercial and rental vehicles. Buy, sell or rent. At www.STCars.sg, your ideal car isn’t hard to find.
      32 words
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      Lock icon Page 1 Advertisements Column 1
      29 1 MOCHTAR RIADY SPOTLIGHT Doing good and multi-generational wealth Special: Women in finance Mark Mobius: Making money from emerging markets Reits: Looking beyond yields Ultra-wealth indulgence: Experiential travel JUNE 2014
      29 words
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      Lock icon Page 2 Advertisements Column 1
      177 2 CONTENTS CARLTON RITZ PHOTO: 8 SPOTLIGHT Doing a wealth of good Indonesian tycoon Mochtar Riady’s determination to keep The Lippo Group growing is not driven by wealth, but a simple aim to do good for people and for the country 10 INCOME ASSETS Keeping the faith Valuations in Asia and
      177 words
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      Lock icon Page 3 Advertisements Column 1
      100 3 'tit Credit Suisse SI IrOTOT V, rami IIHTTI. T E E ’~z a is V ASIAN PRIVATE BANKERAWARDS FOR l_. DISTINCTION 2013 'Mg m as a Best Private Bank Asia Best Private Bank Philippines Indonesia Best Private Bank Family Office Services Best Private Bank Training Development Our clients have individual
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      Lock icon Page 4 Advertisements Column 1
      208 4 contents June 2014 24 21 PHILANTHROPY Giving to promote giving While the immediate aim of the Tan Chin Tuan Foundation is to help the needy, it also inspires beneficiaries to contribute to society in their own ways 24 TRUST MATTERS Seeking further afield for yields A look at asset-backed income
      208 words
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      Lock icon Page 5 Advertisements Column 1
      230 5 Recognizing opportunities is my passion Responding to them well is the challenge. With our financing expertise your wealth has a voice. Let it be heard. Discover more at asia-weaLthmanagement.bnpparibas.com BNP PARIBAS WEALTH MANAGEMENT The bank for a changing world This advertisement is for informational purposes only. It is not an
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  • Wealth
    • Article, Illustration
      Lock icon Editor’s note
      678 6  -  By Genevieve Cua NDONESIAN tycoon Mochtar Riady has hit upon a strategy to ensure that his family defies the cross-cultural adage of “shirtsleeves to shirtsleeves in three generations”. What is essential to multigenerational wealth, he says, is to mount public listings of family companies. This is because public
      PHOTO: ISTOCKPHOTO  -  678 words
    • SPOTLIGHT MOCHTAR RIADY
      • Article, Illustration
        Lock icon Doing a wealth of good
        1921 8  -  Indonesian tycoon Mochtar Riady’s determination to keep The Lippo Group growing is not driven by wealth, but a simple aim to do good for people and for the country By Genevieve Cua S ELF-MADE billionaire Mochtar Riady counts among Indonesia’s wealthiest tycoons, yet wealth itself
        PHOTO: ARTHUR LEE  -  1,921 words
    • INCOME ASSETS
      • Article, Illustration
        Lock icon Keeping the faith
        1412 10  -  Valuations in Asia and the emerging markets are currently attractive, but there are near-term challenges to a re-rating By Genevieve Cua ASSET market returns as at press time in midMay were relatively lacklustre compared to 2013, but investors are keeping the faith in terms of their demand
        1,412 words
    • EQUITY INCOME
      • Article, Illustration
        Lock icon Time to be bullish on dividend strategies?
        1131 12  -  Although high-dividend strategies outperform the overall market in the long run, there are other factors to consider By SRIDHAR NATARAJAN Sridhar Natarajan is Julius Baer’s Head of Investment Consulting Services, Asia and Head of ISG (Investment Solutions Group), Singapore E QUITY market performance
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        774 14  -  Investment grade credit is back in favour as overall low yields and weaker economic data bode well for a fundamentally stable asset class By Elke Schoeppl-Jost Elke Schoeppl-Jost is Chief Investment Officer, Asia Pacific, Deutsche Asset Wealth Management C REDIT markets usually perform best just coming
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      463 15 The private banking industry has experienced a host of changes in recent years. Looking for new growth opportunities, many players had previously shifted their focus east towards the world’s fastest growing wealth region. This has resulted in a highly competitive and fragmented market in the region.
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      701 17 Swiss bankers since 1873 WEALTH OF OPINION Knowledge and experience drive our choices. The Asian financial crisis of 1997-98, the Nasdaq crash, and the global financial crisis have changed the way we look at the world. In particular, the GFC dented the banking
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        1456 16 Templeton’s Mark Mobius gives his insight on investing in emerging markets ARK Mobius has four decades of investment experience and is closely associated with emerging markets. As executive chairman of the Templeton Emerging Markets Group, he has oversight of roughly US$40 billion in assets,
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        271 18  -  A special feature highlighting the experiences of five women, who have attained stature in banking, insurance and fund management, despite being a minority in their respective fields By Genevieve Cua S INGAPORE is widely seen to offer one of the most attractive working environments for women.
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        671 18 Doina Palici-Chehab Chief Executive, AXA Insurance Singapore A JOB in insurance isn’t a natural choice for most people, says Doina Palici-Chehab, chief executive of AXA Insurance Singapore. She used to be a school teacher in Romania, and stumbled upon insurance “by chance” when she moved to
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        730 19 Goh Mui Hong President and Chief Executive, ST Asset Management VETERAN fund manager Goh Mui Hong was a woman in a hurry. She chose an accountancy degree as it took just three years to complete. She wanted to start work as quickly as possible to help her
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        696 19 Counting on teamwork efficiency Tan Min Lan Asia-Pacific Regional Head and Chief Investment Officer, UBS Wealth Management TAN Min Lan, Asia-Pacific regional head and chief investment officer at UBS Wealth Management, says that she has hardly planned her career. Still, she has moved from strength to strength. Prior to her
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        810 20 Annette King Vice-President, Client Centricity, Brand Development and Communications, Manulife Financial Asia MANULIFE Financial’s Annette King, had always dreamed of being a doctor. But she also loved mathematics, and at the age of 17 she jumped at a chance to apply mathematics to business through a scholarship
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        521 20 Eleanor Seet President, Nikko Asset Management in Singapore JAPANESE companies are perceived as hierarchical organisations where the top positions are dominated by men. Nikko Asset Management in Singapore, however, boasts a female president in Eleanor Seet. Nikko AM is the fruit of a merger with
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        1644 21  -  While the immediate aim of the Tan Chin Tuan Foundation is to help the needy, it also inspires beneficiaries to contribute to society in their own ways By Lilian Ang A S Chew Kwee San tells it, council meetings at the Tan Chin Tuan Foundation (TCT
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        994 24  -  A look at asset-backed income and its emerging role for family investors Mark Haynes Daniell Founder and Chairman Raffles Family Wealth T rust Mark Haynes Daniell is the founder and chairman of the Raffles Family Wealth Trust. He also chairs the Cuscaden Group, his family’s
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        919 26  -  Key is to create a strategy that is successful, rewarding and enjoyable By Maya Prabhu Maya Prabhu is Managing Director of Coutts Institute A SIA has a rich and long history of family philanthropy, and the legacy of making a real difference to the causes and
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        2450 28 Reits Looking beyond yields Our panellists share their views on what to look for when choosing real estate investment trusts, which Reits or sectors are in favour, and the challenges or risks to take note of Real estate investment trusts (Reits) have been a staple in investors’ portfolios since the
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        214 30  -  Genevieve Cua, BT Wealth Editor poses questions to three wealth experts for their views on Reits Genevieve Cua, Tim Gibson is Fund Manager, Asia Pacific Property Equities at Henderson Global Investors. Tim has 11 years of experience in the listed real estate sector. Before joining Henderson
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        1279 32  -  A staycation’s key draw is that it offers a quick getaway with leisure activities, minus the hassle of travel planning By CORINNE KERK G OING away for some relaxation and rejuvenation sounds like a really nice idea until the stress and hassle of booking
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        1692 34  -  Through selective property ownership, investors can achieve consistent income streams Alice Tan Associate Director and Head of Consultancy Research Knight Frank AKING wise choices in property reaps a stable recurring passive income for the investor. A penchant for real estate investment stems from its income yielding benefits.
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        888 37  -  For now, China appears to offer a similiar opportunity to what Indonesia offered investors in the aftermath of the 1998 financial crisis Leonardo Drago Co-founder AL Wealth Partners “I DON’T know” are the most important words in investing. No one knows what a stock
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        1113 38  -  Asia’s jetsetters are acquiring a taste for experiential travel Tara Loader Wilkinson Editor-in-Chief Wealth-X A NYONE with a few spare million can buy a fancy new car or a designer handbag. But for the increasingly discerning rich Asian consumer, material goods are no longer luxurious
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      97 7 IMAGINE A BANK Imagine a bank where your interests really do come first. Imagine a bank without risky sovereign debt or toxic assets on its balance sheet. Imagine a bank whose owners have steered a course through over 40 financial crises. Imagine a bank that’s been looking forward for seven
      97 words
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      179 11 ASiAMONEY POLLS 2013 Some results are harder to keep private IMost Financially Stable and Reputable Private Bank in Asia Best Global Private Bank in Asia* Best Global Private Bank in Hong Kong** Best Global Private Bank in Singapore* ABN AMRO Private Banking is inspired and grateful to be voted by
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      931 13 LOBAL investment markets still face a significant amount of uncertainty five years after the Great Financial Crisis, as some of the macro forces that have determined the course of global markets since 2008 begin to change. Most immediately, the US Federal Reserve is in the process of dialling back its
      931 words
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      63 23 My name: John My business: Manufacturing My dream: To continue my family tradition My private bank: Julius Baer, because they have been leading the way in wealth management for generations The leading Swiss private banking group. Since 1890. www.juliusbaer.asia Julius Baer is present in over 40 locations worldwide. From Hong
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      139 25 If ENJOY A NEW CLASS OF PREMIUM TRADING SERVICES ii f 1 U r w ym i l’ rv <8 A WEALTH OF BENEFITS AWAITS Enjoy better rates, commissions and rebates on high volume trading and react confidently to market movements with trades executed in 0.1 seconds or less. J
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      46 27 Commitment Crédit Agricole (Suisse) S.A. Singapore Branch 168 Robinson Road, #23-03 Capital Tower Tel: +65 6423 0325 www.ca-privatebanking.com/singapore Long term vision, Conviction driven, Innovation, Bespoke solutions, Preservation. Today and tomorrow Abu Dhabi Belgium Brazil Dubai France Hong Kong Lebanon Luxembourg Miami Monaco Singapore Spain Switzerland Uruguay
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      618 36 Premier Financial Institutions ORGANISATION CONTACT DETAILS Tel +65 6597 8866 www.abnamroprivatebanking.com DESCRIPTION Tel +65 6559 8000 www.bankofsingapore.com Tel +65 6210 3888 www.asia-wealthmanagement.bnpparibas.com Tel +65 6521 1888 www.sg.bsibank.com Tel +65 6223 3132 www.coutts.com ABN AMRO Private Banking has a mature local presence in more than 10 countries worldwide. Within Asia and
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      142 39 BANKOFSINGAPORE Asia's global private bank Like you, we believe opportunities can arise even when the sun has set. J. FI II !^jn%jiiJiiwnUi'«« J iImI 1 y w Bank of Singapore Private Banker and team Finalising a multi-million dollar proposal, 9:36pm fv f;lr kti M'- t 1 v —'-j? k ,r
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      26 40 ONLY BY UNDERSTANDING THE PAST, ARE YOU ABLE TO BUILD FOR THE FUTURE. For generations of Wealth Management, Coutts. coutts.com WEALTH MANAGEMENT PRIVATE BANKING INVESTMENT MANAGEMENT
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