The Business Times, 4 June 2014

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Microfilm: NL33151
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Wednesday, June 4, 2014
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  • Article, Illustration
    Lock icon Hopes remain high despite dip in May PMI
    697 1  -  Index slips to 50.8, from April’s sixmonth high of 51.1 B)’. TEH SHI NING t§hining@sph.com.sg @TehShiNingBT [SINGAPORE] Manufacturers in Singapore ran down their inventories and stocks of finished goods in May, but this could soon be followed by a fresh round of
    Source: Singapore Institute of Purchasing & Materials Management  -  697 words
  • Article, Illustration
    Lock icon Sun shining on Islamic finance, says MAS chief
    956 1  -  Ravi Menon highlights three promising global developments that Singapore can tap By SIOW LI SEN lisen@sph.com.sg @SiowLiSenBT [SINGAPORE] Islamic finance is developing rapidly but more work needs to be done if Singapore is to fully benefit from its growth. As experts in
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  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 HST INDEX 3,296.67 (-5.57) HST INDEX FUTURES 3,297.00 (-6.00) HSIMSCI 373.76 (-0.52) HSIMSCI FUTURES 373.90 (-0.30) US$ S$ US$ (S$ per US$) 1.256 (US$/S$ per 1.676 2.106 EURO (US$/S$/€ 1.360 1.709 Foreign currency per US$ S$ YEN 102.30 81.50 RM 3.228 2.569 HK$ 7.753 6.172 BAHT 32.71 26.03 RUPIAH
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    • Article
      Lock icon MARKETS
      48 1 Tuesday Change KL COMP 1,872.55 +8.30 NIKKEI 225 15,034.25 +98.33 HANG SENG 23,291.04 +209.39 SET INDEX 1,454.24 +13.30 JAKARTA COMP 4,942.16 +30.07 MANILA COMP 6,800.84 +90.44 SEOUL COMP 2,008.56 +6.56 SHENZHEN B 807.79 +4.64 MUMBAI IND 24,858.59 +173.74 12noon EDT Change DOW 16,703.31 -40.32 NASDAQ 4,224.86 -12.34
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    • Article
      Lock icon PRIME RATES
      23 1 SINGAPORE 5.35 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA JAPAN TAIWAN KOREA JAPAN 1.475 KOREA 9.33 SWITZERLAND 0.50 INDIA 3.25 Source: Bloomberg
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      102 1 STRAIT TALK Upholding principles of honesty and integrity PAGE 17 COMMENTARY Alibaba-JD.com governance issues PAGE 21 IATA CONFERENCE Plane tracking: Airlines to get various options PAGE 18 COMPANIES Beauty parade at Asiatravel.com? PAGE 4 The leading Swiss private banking group. Since 1890. www.juliusbaer.asia My name: John My business: Manufacturing My
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  • TOP STORIES
    • Article
      Lock icon THREE-MINUTE DIGEST
      498 2 As Islamic finance grows, more for Singapore to do ISLAMIC finance is developing rapidly but more work needs to be done if Singapore is to fully benefit from it. FRONT PAGE Hopes remain high despite dip in May PMI LOWER inventory and finished goods sub-indices pulled May’s purchasing
      498 words
    • Article, Illustration
      Lock icon BOJ set for more easing to reach inflation target
      719 2  -  By ANTHONY ROWLEY in Tokyo IN a signal read as being of key importance to financial markets, Bank of Japan (BOJ) governor Haruhiko Kuroda yesterday stressed that the central bank was ready to ease monetary policy further if the economy looked
      PHOTO: AFP  -  719 words
    • Article
      Lock icon GIC, equity firm acquire iParadigms for US$752m
      293 2  -  Deal gives a boost to the anti-plagiarism provider By JACQUELYN CHEOK jaccheok@sph.com.sg @JacCheokBT [SINGAPORE] GIC, together with global private equity firm Insight Venture Partners (IVP), will be acquiring anti-plagiarism solutions provider iParadigms for US$752 million. The acquisition will ac- celerate iParadigms’ product innovation
      293 words
    • Article, Illustration
      Lock icon Power market competition has benefited consumers
      673 2  -  Gencos told to look ahead though oversupply may have dented profits By RONNIE LIM ronnie@sph.com.sg [SINGAPORE] Consumers are benefiting from today’s one-third cheaper wholesale electricity prices compared to three years ago, thanks to market competition arising from the numerous generation additions, said the Energy
      673 words
    • Article
      Lock icon Power plant emissions not a problem here as in US
      597 2  -  By RONNIE LIM ronnie@sph.com.sg [SINGAPORE] Singapore and the US have very different starting points in terms of carbon emission levels in their respective power sectors, Singapore’s energy regulator said, in response to the latest US proposal to crack down on
      597 words
    • Article, Illustration
      Lock icon Emerging market banks better placed to expand
      534 3  -  Spared by financial crisis, they are in a position to pursue global M&As: report B)’. MICHELLE QUAH michquah@sph.com.sg @Miche||eQuahBT [SINGAPORE] Banks in emerging markets are relatively better positioned to expand internationally, compared to those in developed markets and this is, ironically, a result
      Source: World Economic Outlook Database, IMF, Oct 2010  -  534 words
    • Article
      Lock icon US factory orders up, rise in unfilled orders largest in five months
      338 3 LATEST US DATA Reuters [WASHINGTON] New orders for US factory goods rose for a third straight month in April, pointing to strength in manufacturing and the broader economy. The Commerce Department said yesterday that new orders for manufactured
      Reuters  -  338 words
    • Article, Illustration
      Lock icon Infrastructure sector needs to enhance financing ability
      400 3  -  By VIVIEN SHIAO vshiao@sph.com.sg @VivienShiaoBT [SINGAPORE] The infrastructure sector needs to enhance the ability of the financing ecosystem to match projects with available capital, said Minister for Trade and Industry Lim Hng Kiang yesterday. This would entail “right-siting” capital and mitigating risks both
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  • Page 3 Advertisements
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      142 3 AIRF RANGE J FRANCE IS IN THE AIR m AND NOW, JAKARTA! NEW ROUTE OPENING FROM SINGAPORE STARTING FROM S$149 AIRFRANCE KLM AIRFRANCE.SG 1 Return fare featured from S$149 include taxes for departure from Singapore on Air France Economy Class and is correct as of 23 May 2014. Return fare
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  • COMPANY NEWS
    • Article
      Lock icon Top Chinese firms eyeing Asiatravel.com
      618 4  -  No firm offer yet from potential suitors but ‘beauty parade’ possible By ANITA GABRIEL anitag@sph.com.sg @AnitaGabrielBT TWO Chinese giants a leading online travel firm and an e-commerce heavyweight may be vying for a slice of Singapore-listed Asiatravel.com to tap the booming e-ticketing travel space in
      618 words
    • Article, Illustration
      Lock icon SocGen launches new commodity index
      525 4  -  Index’s product mix changes monthly, based on seasons By ANDREA SOH sandrea@sph.com.sg @AndreaSohBT RIDING on increased investment interest in commodities, Societe Generale has launched a new commodity index that changes its mix of products monthly based on seasonal factors. The Societe Generale Seasonal Factor Commodity
      Source: Societe Generale  -  525 words
    • Article
      Lock icon Sembcorp picked for wastewater project in China’s Jiangsu province
      362 4  -  By MICHELLE QUAH michquah@sph.com.sg @MichelleQuahBT SINGAPORE’S Sembcorp Industries has signed a joint-venture agreement to acquire and upgrade a wastewater treatment plant in China’s Jiangsu province, thereby strengthening its presence in that region. The company announced yesterday that it had been selected
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    • Article, Illustration
      Lock icon Citic Pacific gets nod to acquire parent’s assets
      904 5 US$36b purchase approved by 99% of votes at yesterday’s meeting Reu ters [HONG KONG] Minority shareholders of Hong Kong-listed Citic Pacific Ltd have approved a landmark deal to acquire US$36 billion of assets from its state-owned parent Citic Group Corp, China’s biggest
      Reuters; PHOTO: REUTERS  -  904 words
    • Article
      Lock icon Offerors’ stakes in CapitaMalls Asia, Hotel Prop up
      326 5  -  By JACQUELYN CHEOK jaccheok@sph.com.sg @JacCheokBT TWO offerors have upped their respective shareholdings in CapitaMalls Asia (CMA) and Hotel Properties Limited (HPL). Sound Investment Holdings, a wholly owned subsidiary of CapitaLand, said that as at Monday, it and concert parties owned, controlled or
      326 words
    • Article
      Lock icon Ley Choon wins $38.2m contract in Sri Lanka
      315 7  -  Sewer pipe rehab deal lifts the company’s order book to $181m By CARINE LEE carinel@sph.com.sg @CarineLeeBT LEY Choon Group Holdings has clinched a $38.2 million sewer pipe rehabilitation contract in Sri Lanka, making the country its third overseas market after Brunei and
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    • Article, Illustration
      Lock icon Golfers raise $280,000 for 4 charities
      167 7 MORE than 140 golfers hit the greens to stroke for charity at the SGX Bull Charge Charity Golf on May 30. The event was back for the second year. About 50 companies, including those listed on the Singapore Exchange, broking firms and business partners,
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    • COMPANY BRIEFS
      • Article
        Lock icon GLP inks 3 new China lease pacts
        77 7 GLOBAL Logistic Properties (GLP) has signed three new lease agreements with three companies in China. Of the 44,000 sq m, 20,000 sq m was leased to a leading third-party logistics provider at GLP Park Yantian in Shenzhen; 13,000 sq m to a global
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      • Article
        Lock icon HL Global added to SGX watch-list
        75 7 HL GLOBAL Enterprises has been added to the Singapore Exchange (SGX) watch-list of loss-making companies from June 4, 2014 after three consecutive years of pre-tax losses. The company will need to take steps to meet SGX’s listing requirements and submit an application to SGX
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      • Article
        Lock icon Global Yellow Pages gets acquisition nod
        83 7 GLOBAL Yellow Pages has received the green light from shareholders for its proposed A$35.6 million (S$41.4 million) acquisition of Gloria Jean’s Coffees and “It’s A Grind” global intellectual property rights, master franchisor business and global supply chain business. At the extraordinary general meeting held
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      • Article
        Lock icon KrisEnergy prices $130m notes due 2017
        42 7 KRISENERGY has priced $130 million of Sing dollar notes due 2017 under its $500 million multi-currency medium-term notes programme. The notes, bearing an interest of 6.25 per cent payable semi-annually in arrears, have drawn strong demand.
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    • Article
      Lock icon In a Dash? Tap for cash in a flash
      541 7  -  SingTel, StanChart jointly offer ‘mobile money’ services By LISABELLE TAN lisatan@sph.com.sg DOWNLOAD mobile cash, in a flash. This is part of the suite of “mobile money” services jointly offered by telco SingTel and Standard Chartered Bank, in the first such collaboration
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    • Article
      Lock icon Slight dip in pay rise likely for 2014: survey
      442 7 INCREASING uncertainty in global economic conditions and weaker than targeted business performances are expected to contribute to the slight dip in average salary increments for 2014 and 2015. According to the latest pay report by Hay Group, a global management consultancy
      442 words
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      Lock icon Page 4 Advertisements Column 1
      161 4 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
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      Lock icon Page 4 Advertisements Column 2
      335 4 In this seminar you will learn the selection of the right indicator(s) and overlay(s) to time your trades in the different market conditions. Actual case studies of counters in the Singapore Exchange (SGX) will be used to illustrate the application of the technical indicators and overlays in our day-to-day trading.
      335 words
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      206 4 Discover how to profit from the right stocks, make consistent passive income and enjoy the financial freedom you deserve. PS M: ii' i.' Over 8 content-packed hours, you will discover: How to make your money work smarter and harder without looking at charts and news, and without the need to
      206 words
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      35 4 FI'EE FACILITIES MANAGEMENT SOLUTIONS EXPO 2014 14 -16 October 2014 SINGAPORE EXPO HALLS 3 4 www.fmse.com.sg T f TOWARDS BUILT t > x K\& To Exhibit: Tel:+65 6319 4021 Email; fmse@sph.com.sg To Visit: Pre-register at www.fmse.com.sg
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      304 5 Forbes r t FORBES GLOBAL CEO CONFERENCE THE NEXT HORIZON October 28 30,2014 Singapore List of confirmed speakers as of May 30, 2014 5. V. i A m A Stefano Pessma Stephen Riady Executive Chairman, OUE, Singapore Kiran Mazumdar-Shaw Chairman MD, Biocon, India Liang Xmjun Vice Chairman CEO, Fosun International,
      304 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Stocks engage ‘reverse’ gear
      560 6  -  Market changes direction for 4th straight day; HanKore, W Corp heavily traded after reverse takeovers STOCKS KENNETH LIM kenlim@sph.com.sg @KennethLimBT Correspondent TUESDAY was apparently “reverse” day in the Singapore stock market. The key market benchmark reversed course for the fourth straight session to decline as reverse
      Source: Bloomberg  -  560 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 6 Jun 3 VALUE CLOSE BT OB/OS 295.00 -57.00 BT CADI -*****.00 -59.00 BT 10-day MA -*****.00 +29.00 FTSE ST Mid Cap 771.00 -1.63 FTSE ST Small Cap 557.99 -0.48 FTSE ST All Share 802.76 -1.37 FTSE ST China Top 201.31 -1.17 FTSE ST China 230.54 -1.11 FTSE
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    • Article
      Lock icon MOST ACTIVE STOCKS
      59 6 VOLUME W Corp 96,413,000 Rowsley W*****3 62,690,000 Noble 45,769,000 HanKoreEnv 41,540,000 Vallianz 33,931,000 Scintronix 29,779,000 HPH Trust USD 29,502,000 Rowsley 29,375,000 QT Vascular 27,010,000 Ascendas Reit 26,556,000 VALUE($) Noble 65,281,935 Ascendas Reit 63,184,640 DBS Grp 60,334,721 HanKoreEnv 48,528,350 CapitaMalls Asia 47,116,470 SingTel 44,805,590 UOB 43,778,292 OCBC Bank
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 8 4 0 0 0 3 8 4 Manufacturing 33 55 36 3 12 16 36 67 52 Commerce 21 27 14 5 4 4 26 31 18 Tpt/Stor/Comms 11 15 16
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    • Article, Illustration
      Lock icon BROKERS’ TAKE
      886 6  -  Compiled by JOYCE HOOI King Wan Corporation June 3 close: S$0.335 DMG Partners Research, June 3 KING Wan reported FY2014 results with earnings of $6.7 million, 4 per cent lower y-o-y, but topping our estimate by 12 per cent on higher-than-expected revenue. The final dividend of 1.5 cents
      Source: Bloomberg  -  886 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 30,154 30,154 54,538 54,538 Manufacturing 391,924 91,500 483,424 156,547 14,984 171,531 Commerce 123,313 84,593 207,906 126,259 14,588 140,847 Tpt/Stor/Comms 136,535 2,806 139,341 191,939 348 192,288 Finance 19,353 536 19,889 161,154 167 161,321 Construction 30,777 32,815
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    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      122 6 Stock name Close Change CapitaLand 3.200 +0.010 CapitaMall Trust 2.040 -0.020 CapitaMalls Asia 2.350 -0.010 CityDev 10.35 -0.080 ComfortDelGro 2.400 +0.070 DBS Grp 16.98 +0.060 Genting Sing 1.340 -0.005 Global Logistic 2.750 -0.020 Golden Agri-Res 0.570 HPH Trust USD 0.735 -0.005 HongkongLand USD 7.000 +0.010 JMH
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    • Article, Illustration
      Lock icon Rupiah hits 3-month low on trade data
      517 6 CURRENCIES Bloomb erg [JAKARTA] Indonesia’s rupiah yesterday fell to the weakest level since February on concern that the largest trade deficit in nine months will weigh on the current account. Imports exceeded exports by US$1.96 billion in April, the biggest shortfall since July,
      Bloomberg; PHOTO: BLOOMBERG  -  517 words
    • Article
      Lock icon RISES
      119 6 BY CENTS CLOSE UP Lyxor ThaiSET 10US$ ***** 340.3 2.1 DBXT Nifty 10US$ ***** 262.5 1.7 DBXT AUDCS 5US$ ***** 67.8 0.3 Lyxor Indonesia10US$ 8847 66.6 0.6 DBXT AUDCS 5SG$ ***** 61.0 0.2 DBXT MSKorea 10US$ 6556 56.5 0.7 Lyxor AsiaIT 10US$ 3791 55.3 1.2 DBXT MSAsExJp 10US$ 3561
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    • Article
      Lock icon FALLS
      130 6 BY CENTS CLOSE DOWN DBXT USDIGInfl 5US$ ***** -242.4 -0.7 DBXT AUD Bonds 5AU$ ***** -74.6 -0.3 DBXT iBoxxUSTr 5US$ ***** -70.3 -0.3 JSH 500 USD 3624 -30.1 -0.7 DBXT SPASX200 10US$ 4187 -23.9 -0.5 DBXT iBoxxSvEu 5US$ ***** -22.6 -0.1 JMH 400 USD 6136 -17.6 -0.2 SPDR DJIA
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 6 DAILY
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      159 7 WHY BUY FREEHOLD INDUSTRIAL? HOW BUSINESS SPACE TENURE AFFECT OPERATING CASHFLOW? Service You Trust m ■rlf- 11 m ATTEND SEMINAR BY MR ROY CHONG 7 JUNE 2014, SATURDAY 10AM 12PM AT TAG.A SHOWFLAT (81 TAGORE LANE) LIMITED SEATS ONLY! Artist's Impression I0PJ jpr V'M Roy Chong is the first local
      159 words
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      432 7 Join us at WasteMET Asia CleanMET Asia Trade Exhibition OPENS NOW FROM 2-4 JUNE 2014 Asia's Only Business Trading Platform for Waste Management, Recycling, Cleaning Environmental Solutions WasteMET Asia Asia’s International Waste Management Environmental Technology Exhibition and Conference CleanMET Asia Asia's International Cleaning Management Environmental Technology Exhibition and Conference DOWNLOAD
      432 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Surbana academy to share expertise with region
      685 8  -  It targets developing nations with urgent affordable housing needs WORLD CITIES SUMMIT By LEE MEIXIAN leemx@sph.com.sg @LeeMeixianBT SURBANA International Consultants yesterday officially launched its academy, which will become a platform for it to share affordable housing development and city management solutions with regional
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    • Article
      Lock icon Innovative solutions for a safer city
      356 8  -  By LESTER WONG lesterw@sph.com.sg IN the past year, four industry consortia have been working with government agencies to come up with ways to shorten the response times and improve the management of safety and security threats created by, for instance, car accidents, crime or
      356 words
    • Article, Illustration
      Lock icon A*Star partners IHI to spur R&D
      301 8  -  By LISABELLE TAN lisatan@sph.com.sg THE Agency for Science, Technology and Research (A*Star) has teamed up with Japanese heavy-equip-ment maker IHI Corporation for a five-year research collaboration in the science, technology and biomedical sectors here and across Asia. Four of A*Star’s research bodies will work
      301 words
    • Article
      Lock icon HDB, JTC in separate tie-ups to test green solutions
      288 8  -  By LYNETTE KHOO lynkhoo@sph.com.sg@LynetteKhooBT THE Housing Development Board (HDB) has joined hands with the Energy Market Authority (EMA) and Panasonic to study the feasibility of energy options for HDB households that could potentially shrink their electricity bills. This year-long study will
      288 words
    • Article
      Lock icon Industry groups plan SG50 honours for pioneer firms, workers
      564 8  -  Retailers’ association to mark jubilee with events to raise funds for charity By MALMINDERJIT SINGH msingh@sph.com.sg @MalminderjitBT A LARGE part of industries here is looking to honour the pioneer companies and individuals that helped to build the economy to mark Singapore’s
      564 words
    • Article
      Lock icon Phase 2 of deep tunnel network to begin soon
      454 8  -  It’ll include building of Tuas WRP and a NEWater factory WATER WEEK By SHEENA TAN tsheena@sph.com.sg THE Deep Tunnel Sewerage System (DTSS) in Singapore will soon enter its second phase covering the western part of the island. In addition to extending
      454 words
    • Article
      Lock icon Cushman & Wakefield sets up office in Malaysia
      341 8  - Cushman Wakefield sets up office in Malaysia By RAPHAEL LIM raphlim@sph.com.sg CUSHMAN Wakefield, the world’s largest private-ly-held real estate services firm, has expanded into Malaysia, seeing “tremendous opportunities in Iskandar”. The company’s new Kuala Lumpur office is its 35th in the Asia-Pacific. “This move is in line with our five-year
      341 words
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon Malaysian developers’ Q1 profits in downtrend
      454 9  -  Property sales still moderating after October’s cooling measures By PAULINE NG in Kuala Lumpur THE quarter to end-March performance of developers indicates that, sequentially, earnings are on a downward trend, with most posting weaker profits on lower revenues and margins. However, builders that focus
      454 words
    • Article, Illustration
      Lock icon China builds Sulawesi smelters as Indonesia ore ban costs jobs
      918 9 Bloomberg [JAKARTA] Since Indonesia banned ore exports, the global nickel industry has been rocked by surging prices, Chinese workers such as Zhang Qi Guang are building smelters in Sulawesi and business at Eva’s Jewel restaurant has collapsed. Indonesia, the world’s
      Bloomberg; PHOTO: REUTERS  -  918 words
    • Article
      Lock icon Malaysia’s Star to build up its e-paper base
      503 9  -  Falling print revenue and competition take toll on earnings By S JAYASANKARAN in Kuala Lumpur FACED with declining revenues, stiffening competition and shrinking circulation, Star Publications, which is Malaysia’s larg-est-selling English language newspaper, wants to reinvent itself. For its first quarter ended
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  • Page 9 Advertisements
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      322 9 Oystei OCCASIONS a: m w ~J S3 srZKx. This June, 10 at Claymore pampers oyster afficionados with an indulgent 6 varieties of oysters, freshly shucked to order at daily Dinner Buffet and Sunday Brunch. Spanning France, U.S., Canada, Australia and New Zealand, each variety is carefully handpicked to enthral even
      322 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon China PMI rebound points to economy stabilising
      574 10 Analysts expect govt pump-priming to continue to support manufacturing Reuters [BEIJING] China’s factory and services sectors had their best showings in months in May as demand rebounded, surveys showed, fuelling optimism that its economy may be steadying after a weak start to the
      Reuters; PHOTO: REUTERS  -  574 words
    • Article
      Lock icon Indian central bank holds rates, signals easing if CPI slows
      354 10 Bloomberg [MUMBAI] India’s central bank left interest rates unchanged for a second straight meeting, while signalling it would ease monetary policy if inflation slows faster than anticipated. Governor Raghuram Rajan kept the benchmark repurchase rate at 8 per cent, the
      Bloomberg  -  354 words
    • Article
      Lock icon Citic in the vanguard of economic reform again
      628 10 Its revamp could provide model for China’s other SOEs Bloomberg [HONG KONG] In 1979, as paramount leader Deng Xiaoping re-opened China’s depleted economy, he invited some old industrialists who had survived the revolution for lunch in a cigarette smoke-shrouded room. Their brainstorming
      Bloomberg  -  628 words
    • Article, Illustration
      Lock icon Indian minister dies in road crash
      380 10 Reu ters [NEW DELHI] India’s minister for rural development died yesterday after a road collision in New Delhi, depriving Prime Minister Narendra Modi of a key ally just eight days after coming to office. India’s roads are among the most dangerous in the world,
      Reuters  -  380 words
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      1752 10 The Business Times NOTICES AUSGROUP LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****3014R) NOTICE OF EXTRAORDINARY GENERAL MEETING Unless otherwise defined or the context otherwise requires, all capitalized terms herein shall bear the same meaning as used In the circular dated 4 June 2014 issued by the
      1,752 words
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  • WORLD
    • Article, Illustration
      Lock icon ECB set to ease rates as May inflation misses forecasts
      727 11 It may become first major central bank to take rates into negative territory Bloomb erg [BRUSSELS] Euro-area inflation slowed more than economists forecast in May, cranking up pressure on the European Central Bank (ECB) to deploy measures as soon as
      Bloomberg; PHOTO: BLOOMBERG  -  727 words
    • Article
      Lock icon Baijiu making its journey to the West
      490 11 Producers eye US, Europe markets as sales fall in China Re uters [NEW YORK] Just as Russia has its vodka, Mexico its tequila and Scotland its Scotch, China has its own distilled spirit, baijiu. Baijiu is the world’s big-gest-selling spirit category and represents
      Reuters  -  490 words
    • Article, Illustration
      Lock icon Britain’s house prices rise at fastest pace in 7 years
      486 11 Reuters [LONDON] Britain’s house prices rose at their fastest annual pace in nearly seven years last month, while signs of bottlenecks in the construction sector underscored the upward pressures on the market, surveys showed yesterday. House price growth picked up
      – Reuters; PHOTO: BLOOMBERG  -  486 words
    • Article
      Lock icon Sydney luxury home sold for over A$30m
      219 11 Bloomberg [SYDNEY] A Sydney harbourfront mansion with 180-degree views of the city’s Harbour Bridge and Opera House was snapped up for more than A$30 million (S$34.9 million) in the biggest home sale in Australia this year. The six-bedroom mansion at 130 Wolseley Road
      Bloomberg  -  219 words
    • Article, Illustration
      Lock icon Thai consumer confidence up on hopes junta will boost economy
      957 12 Greater political clarity following coup helps to lift sentiment Reuters [BANGKOK] An index of consumer confidence in Thailand jumped in May on hopes that a military government which seized power promising to impose order after months of political chaos will
      Reuters; PHOTO: REUTERS  -  957 words
    • Article
      Lock icon Thai farmers want new rice support scheme
      409 12 They urge military govt to help stem the decline in prices of the grain Reuters [BANGKOK] Rice farmers in Thailand are asking the military government to come up with a new market intervention scheme to stem the decline in prices of the grain.
      Reuters  -  409 words
    • Article, Illustration
      Lock icon Everland IPO could help Samsung heirs revamp group
      629 12 Planned listing may also help them cope with hefty inheritance tax bill Reuters [SEOUL] Samsung Everland Inc, a key holding firm within the sprawling Samsung Group, said it is planning an initial public offering a move that could help heirs in the
      Reuters  -  629 words
    • Article
      Lock icon Aussie rates on hold amid signs of growth
      604 12 Reuters [SYDNEY] Australia’s central bank kept its cash rate steady for a ninth straight policy meeting yesterday, a day before the economy’s latest report card is expected to show the fastest pace of growth in almost two years. The local dollar edged
      Reuters  -  604 words
    • Article
      Lock icon Alfa Bank’s Russian bond issue plan surprises market
      391 12 IFR [LONDON] Alfa Bank has announced its intention to reopen the public bond market for Russian issuers 94 days since the last deal to emerge from the country as the crisis with Ukraine brought debt supply to a standstill. Alfa plans to
      IFR  -  391 words
    • Article, Illustration
      Lock icon Web-TV gap in World Cup ad spend narrows
      1053 13 Firms seen spending US$68.5b on TV this year and US$56b online Bloomb erg [FRANKFURT] Nike Inc’s latest World Cup ad, featuring Real Madrid star Cristiano Ronaldo, was seen by 78 million people in four days. Then it went to television. Though the
      Bloomberg; PHOTO: REUTERS  -  1,053 words
    • Article, Illustration
      Lock icon Biggest graft risk at Fifa is its board: compliance officer
      780 13 Change sought to end culture of favours among senior officials Bloomberg [RIO DE JANEIRO] Fifa’s chief compliance officer said the biggest corruption risk facing the world soccer governing body is its board. Governance at the sports body has once again
      Bloomberg; PHOTO: AFP  -  780 words
    • Article
      Lock icon Australia denies acting improperly in 2022 World Cup bid
      498 13 AFP [SYDNEY] Australia’s football chiefs yesterday rejected suggestions that they acted improperly during their bid to host the 2022 World Cup after the “development” grants they gave to corruption-riddled overseas football bodies were questioned. Bonita Mersiades, the corporate affairs head for
      AFP  -  498 words
    • Article, Illustration
      Lock icon Apple’s pitch to programmers shows growing Google threat
      968 14 The iPhone maker introduces new features at annual developers’ meet Bloomberg [SAN FRANCISCO] Apple Inc’s pitch to developers at its annual conference on Monday shows how chief executive officer Tim Cook is ramping up efforts to keep programmers from switching loyalties to
      Bloomberg; PHOTO: BLOOMBERG  -  968 words
    • Article
      Lock icon Game over for two pernicious viruses
      765 14 FBI seizes control of computer networks used by hackers NYT [WASHINGTON] US federal agents over the weekend secretly seized control of two computer networks that hackers used to steal millions of dollars from unsus- pecting victims. In doing so, the Justice Department disrupted the
      NYT  -  765 words
    • Article
      Lock icon Apple gives the nod for virtual currencies in apps
      510 14 Bloomberg [PORTLAND] Apple Inc changed its policy to let software developers include virtual-currency transactions in their applications, paving the way for new forms of money such as bitcoin to appear on iPhones and iPads. While Apple didn’t mention bitcoin specifically, its
      Bloomberg  -  510 words
    • Article, Illustration
      Lock icon More political wrangling in the way of investors in Norway
      447 14 Bloomberg [OSLO] Investors in Norway, western Europe’s largest oil and gas producer, face more political wrangling as the level of brinkmanship in lawmaking picks up. The minority coalition, in office since October, is Norway’s first in almost a decade to
      Bloomberg; PHOTO: AFP  -  447 words
    • Article, Illustration
      Lock icon US$2.5t a year needed for energy globally
      671 16 IEA also warns surge in shale oil and gas may run out of steam in the 2020s NYT [LONDON] Enormous amounts of capital investment up to US$2.5 trillion a year will be needed to supply the world’s energy needs through 2035, according to
      NYT; PHOTO: REUTERS  -  671 words
    • Article
      Lock icon Oil prices may rise US$15 by 2035 on investment gap
      666 16 World needs US$40t invested in energy supply, says OECD Reuters [LONDON] A potential shortfall in investment in production in the Middle East could create a US$15 spike in the oil price by 2035, the energy arm of the Organisation for
      Reuters  -  666 words
    • Article, Illustration
      Lock icon Buffett lunch auction off to a brisk start
      341 16 Bloomberg [SAN FRANCISCO] Warren Buffett’s annual charity auction drew an offer of more than US$355,000 as bidders vie for a chance to have lunch and a conversation with the investor. The event kicked off on Sunday with a starting price of US$25,000,
      – Bloomberg; PHOTO: BLOOMBERG  -  341 words
    • Article, Illustration
      Lock icon ‘Dark pools’ take big chunk of US alternative trades
      664 16 Bloomberg [NEW YORK] “Dark pools” owned by five big banks account for around half of all trades on alternative trading systems (ATSs), ex-change-like trading platforms that critics blame for making the markets less transparent, according to a report. The weekly report
      Bloomberg; PHOTOS: AFP, REUTERS  -  664 words
    • Article
      Lock icon 77,000 banks join US fight against tax evasion
      295 16 AFP [WASHINGTON] US officials said that more than 77,000 banks and other financial institutions worldwide have joined its fight against tax evasion. That many institutions in nearly 70 countries have registered to work under the rules of the Foreign Account Tax Compliance
      AFP  -  295 words
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      1248 11 $3 MILLION Estimated Draw on Thu, 5 Jun 2014 at 6.30pm For details, visit www.singaporepools.com.sg SINGAPORE RGB Reg No: *****0202G POOLS THE BUSINESS TIMES NOTICES global invacom competing the picture GLOBAL INVACOM GROUP LIMITED (Company Registration Number: *****2428H) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE
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      84 13 Notice of Appointment of a liquidator under Section 204 of the BVI Business Companies Act FEN INVESTMENT MANAGEMENT LTD. Company No. ***** (in voluntary liquidation) NOTICE is hereby given, in accordance with the BVI Business Companies Act, 2004 that the above named company, is in voluntary liquidation. The voluntary liquidation
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      233 14 Companies Winding-up No. CWU 55/2014 In the Matter of THE COMPANIES ACT (CHAPTER 50) And In the Matter of MOTLEY RESOURCES PTE LTD (IN COMPULSORY LIQUIDATION) Company Registration No. *****3673H (Under the Order for winding-up the abovenamed Company dated the 25th day of April 2014). Notice is hereby given that
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      382 15 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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  • Transport HUB
    • Article, Illustration
      Lock icon Upholding the principles of honesty and integrity
      633 17  -  Intertanko needs to be congratulated for bringing the issue of business ethics to the fore STRAIT TALK By DAVID HUGHES IN the shipping industry, the motto “our word is our bond” immediately brings to mind the Baltic Exchange. It stems from the time
      PHOTO: REUTERS  -  633 words
    • Article
      Lock icon Two PE firms mull over Triton Container IPO
      330 17 Listing move latest sign of recovery in shipping industry Bloomberg [NEW YORK] Private equity (PE) firms Warburg Pincus LLC and Vestar Capital Partners Inc are exploring an initial public offering (IPO) of Triton Container International Ltd that could value the company at
      Bloomberg  -  330 words
    • Article
      Lock icon TRANSPORT STOCKS
      240 17 SGX '000 Jun 03 S$ +/-Vol Ch Offshore 0.43 -0.01 130 Chuan Hup Hldg 0.29 unch 95 Cosco Corp 0.72 -0.02 1919 Cwt Limited Ezra Hldgs 1.14 0.02 ***** First Ship Lea 0.09 unch 40 Grand Banks 0.26 unch 44 Jaya Hold Ltd 0.81 unch 470 K1Ventures Chuan
      240 words
    • Article, Illustration
      Lock icon China port stops shipment of metals amid probe
      409 17 Reuters [SYDNEY] China’s northeastern port of Qingdao has halted shipments of aluminium and copper due to an investigation by the authorities, causing concern among bankers and trade houses financing the metals, trading and warehousing sources said on Monday. Port authorities could not
      Reuters; PHOTO: AFP  -  409 words
    • Article
      Lock icon Tanker carrying disputed Kurd crude turns back
      502 17 Bloomberg [DUBAI] An oil tanker shipping crude from Iraq’s semi-autonomous Kurdish region turned back after getting almost 200 miles across the Atlantic Ocean, amid a challenge over the shipment’s legality. The United Leadership, able to haul one million barrels, signalled that it was
      Bloomberg  -  502 words
    • TRANSPORT HUB: AVIATION
      • Article
        Lock icon Plane tracking: Airlines to get various options
        513 18  -  About 30 vendors likely to present potential solutions to Iata taskforce Reports by NISHA RAMCHANDANI in Doha, Qatar nishar@sph.com.sg @Nisha_BT AIRLINES will be given a number of options to consider rather than a one-size-fits-all solution, said the head of a taskforce appointed to
        513 words
      • Article, Illustration
        Lock icon Airlines vow to cut emissions by 2016
        476 18 Global offsetting move gets go-ahead from 190 nations I AT A CONFERENCE THE aviation industry is making positive strides towards developing a global offsetting scheme to meet the goal of carbon-neutral growth by 2020, although political and technical challenges still have to be
        PHOTO: BLOOMBERG  -  476 words
      • Article
        Lock icon Recorded noise might offer clues to missing MH370
        897 18 NYT [HONG KONG] Scientists plan to release detailed information today about a mysterious noise, possibly that of an ocean impact, recorded by two undersea receivers in the Indian Ocean about the time Malaysia Airlines Flight 370 ceased satellite transmissions and vanished on
        NYT  -  897 words
      • Article
        Lock icon Gulfstream crash among common type of accidents
        471 18 Bloomberg [WASHINGTON] The accident at a Massachusetts airport that killed parking-lot and sports franchise mogul Lewis Katz is among the most common type of crash for jet planes. While landings at airports are more hazardous, take-offs remain one of the riskiest phases, according
        Bloomberg  -  471 words
    • TRANSPORT HUB: LAND
      • Article
        Lock icon Refunds, replacements rare in Singapore’s motor industry
        482 19  -  Exception occurs when problem is severe, safety comprised: dealers By SAMUEL EE samuelee@sph.com.sg [SINGAPORE] Replacements or full refunds of cars are rare in Singapore and do not usually take place unless the problem is severe and safety is compromised, according to some high-end
        482 words
      • Article, Illustration
        Lock icon GM filed 2,004 injury reports on recalled cars: safety group
        584 19 Bloomberg [NEW YORK] General Motors Co filed 2,004 reports on injuries and deaths stemming from accidents in cars that have been recalled for ignition-related defects, the Center for Auto Safety said. The auto safety group, citing its research of the
        Bloomberg; PHOTO: BLOOMBERG  -  584 words
      • Article
        Lock icon San Francisco hit by transit staff stir
        241 19 Reuters [SAN FRANCISCO] Bay Area commuters were left stranded or facing long delays on Monday when many San Francisco transit workers called in sick just days after a vote on a new contract, bringing the city’s cable cars to a halt. The apparent
        Reuters  -  241 words
      • Article, Illustration
        Lock icon Ford shows off ‘smart’ Mustang at tech fair
        433 19 Features include early warning collision systems [TAIPEI] US car giant Ford showed off its new Mustang at Asia’s biggest tech fair yesterday, billing it as “the smartest Mustang to date”, with voice controls and early warning collision systems. Due to go on
        PHOTO: AFP  -  433 words
      • Article
        Lock icon Factory site choice delays VW model
        570 19 Mexico, Tennessee wooing carmaker with incentives Reuters [BERLIN] A tug-of-war between Mexico and Tennessee over incentives is delaying Volkswagen’s decision on where to build a make-or-break vehicle in North America, sources said, delaying the German group’s efforts to fix its ailing US business. Last
        Reuters  -  570 words
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      81 17 Myanmar O Banking Business Development Conference 2014 15- I 7 July 2014 Sule Shangri-La Hotel,Yangon, Myanmar The only strategic conference dedicated to the banking industry and business development climate in Myanmar where people, innovations, and best practices converge to define the future Defining the future Showcase your products and solutions
      81 words
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  • Page 18 Miscellaneous
    • Miscellaneous
      Lock icon Page 18 Miscellaneous Column 1
      356 18 CRYPTIC CROSSWORD Across 1 Take power from a captain and cite changes (12) 9 Pine mostly found after moderate distance (5-4) 10 Writing in favour of someone with no heart (5) 11 Running through call after work (6) 12 Loss of nerve due to carbon dated measures (4,4) 13 Advanced,
      356 words
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  • EDITORIAL & OPINION
    • Article
      Lock icon Trade-offs from curbs on labour inflows
      491 20 EDITORIAL THE disclosure in the Singapore parliament last week that more than $2 billion of public projects will be shelved to ease the demand for construction workers speaks starkly of the big trade-off between managing foreign labour inflows and going for economic growth and
      491 words
    • Article, Illustration
      Lock icon China just won’t follow America’s spying rules
      775 20  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 THE decision by the United States to indict five officers of the Chinese military on May 19 for commercial cyber-espi-onage is unprecedented and appears
      775 words
    • Article, Illustration
      Lock icon G-7 will be keen to bolster response to Ukraine crisis
      932 20  -  Poroshenko wants more direct military aid, not just stronger sanctions against Russia By ANDREW HAMMOND The writer is an associate at LSE IDEAS at the London School of Economics and a former UK government special adviser THE G-7 meets in
      PHOTO: AFP  -  932 words
    • Article, Illustration
      Lock icon Misadventures of Alibaba, JD.com
      1632 21  -  Their US listing should lay to rest any argument that America champions good corporate governance By MAK YUEN TEEN The writer is an associate professor of accounting in the NUS Business School, where he teaches corporate governance and ethics WHEN the corporate governance of News Corp
      MAK YUEN TEEN  -  1,632 words
    • Article
      Lock icon Where dual-class share structures might work
      756 21  -  By EMIR HRNJIC The writer, director of education and outreach at NUS Business School’s Centre for Asset Management Research and Investments, wrote this article for the school’s Think Business portal (thinkbusiness. nus. edu) DUAL-CLASS share structures have been expressly banned in Singapore. Elsewhere in
      756 words
    • Article
      Lock icon Mexico’s new industrial hub means business
      768 21  -  By JOSÉ FRANCISCO OLVERA RUIZ The writer is Governor of the state of Hidalgo in Mexico TODAY, Mexico has great potential for development within its different regions, allowing our country to take full advantage of its strong economic foundations along with the implementation of
      768 words
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  • Article
    Lock icon SHIPPING TIMES
    2218 22 Papua New Guinea Australia New Zealand New Caledonia Fiji all other Pacific Islands Dili (East Timor) Guam (Mariana Islands) Honolulu (Hawaii) SOUTH PACIFIC SERVICE W W W. N G P L J S P. C O M THE CHINA NAVIGATION CO. PTE. LTD. 300 BEACH ROAD #02-02 THE
    2,218 words
  • Page 22 Advertisements
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      39 22 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 Shipping Times
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      169 23 mporters ooking 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 Can they find your
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      3970 24 Transaction date: Jun 3 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 13.4 +0.1 262 13.4 13.4
      3,970 words
    • Article
      Lock icon SGX CATALIST
      451 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 Last Vol Day 1.9 0.9 t Advanced Systems 0.9 unch 1900 0.9 0.9 0.9 1 17.5 Last Quote Div
      451 words
    • Article
      Lock icon UNIT TRUST & FUNDS
      10813 25 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** Aberdeen Asset Mgt Asia Limited 1.56/ Asian Local Ccy SD Bond 1.25/ Aberdeen Asset Mat Asia Limited Asian Smaller Cos!" China Opportunities' China Opportunities USD!** Global Emerging Markets USD Global Opportunities USD 2 8879/ EM
      10,813 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 Last Vol 343 191 TanChongInt HK337xd -5 312 339 335 335 337 9.7 3.1 3.3 6786.8 DISCLAIMER: All information is published “as is” without warranty of any
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    • Article
      Lock icon SGX ETF
      1125 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 $mil 119 108.3 ABF SG Bond ETF 115 -0.1 22 115 115 114 115 525 137.5 119 CIMB APAC Div 100S$D 131.4 +0.8 131.4 131.4 130.1 132.6
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      670 26 Jun 3 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.04 *****.49 *****.01 Jun14 *****.00 *****.00 *****.00 *****.00 ***** *****8 Sep14 *****.00 *****.00 *****.00 *****.00 186 9508 MSCI TAIWAN INDEX FUTURES SPOT 323.83 326.38 323.73 Jun14 325.10 326.30 323.20 325.10 4188 *****9 Jul14 319.60
      670 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 26 In local curr In S$ In US$ dy yr dy yr dy yr Jun 2 Index Change Change Change Change Change Change World Preliminary 1222.7 0.2 3.2 0.3 2.8 0.1 3.4 EAFE Preliminary 973.4 0.5 1.8 0.4 1.8 0.2 2.3 Europe Preliminary 1412.8 0.2 4.3
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    • Article
      Lock icon INTERBANK CROSS RATES
      471 26 Jun 3 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.011 5.801 0.682 7.193 54.985 109.515 0.949 9.492 2.995 1.096 91.457 40.652 1.165 9.875 0.834 27.867 30.340 0.553 0.928 Canada 0.989 5.739
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    • Article
      Lock icon SIBOR
      39 26 Jun 3 (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
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    • Article
      Lock icon GOVERNMENT SECURITIES
      80 26 Jun 3 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-16 101.28 5-Year NX*****W 2.5 01-Jun-19 105.75 105.93 105.82 10-Year NX*****H 2.750 01-Jul-23 103.75 103.95
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    • Article
      Lock icon PRECIOUS METALS
      120 26 Jun 03 GOLD(US$/oz) Jun 03 May 30 Hong Kong 1253.00 1255.00 Jun 02 May 30 London 1245.00 1244.40 1245.85 1244.92 Source: Thomson Reuters CAST BAR Jun 03 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 77 48 5gm 304 249 10gm 565 501
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    • Article
      Lock icon PALM OIL
      57 26 Jun 3 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 14 2439.0 2400.0 2440.0 2388.0 51 1022 Jul 14 2415.0 2395.0 2436.0 2380.0 1183 ***** Aug 14 2410.0 2387.0 2431.0 2375.0 ***** ***** Sep 14 2408.0 2383.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 26 Jun 3 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1648 1.1662 0.9275 0.9279 Canadian dollar 1.1522 1.1538 0.9180 0.9175 Euro 1.7081 1.7098 1.3602 1.3604 NZ dollar 1.0627 1.0641 0.8462 0.8467 Sterling pound 2.1050 2.1072 1.6762 1.6766
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 26 As at 9am Jun 03 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.188 1.132 Can dollar 1.174 1.129 Euro 1.749 1.666 Sterling pound 2.144 2.062 NZ dollar 1.086 1.045 US dollar 1.282 1.221 Local dollars to 100 units of foreign
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    • Article
      Lock icon INTERBANK RATES
      157 26 Jun 3 $S Offer Bid 0vernight 0.01 par 1-month 3/8 1/4 2-months 3/8 1/4 3-months 7/16 5/16 Overnight mode: 0.08 US$ 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
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    • Article
      Lock icon CHICAGO BOT
      109 26 Jun 2 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 14 1500.50 1493.25 1511.75 1478.25 Aug 14 1427.00 1424.50 1434.75 1411.00 Sep 14 1282.00 1285.75 1286.50 1272.25 Nov 14 1229.75 1233.75 1234.50 1220.75 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 14
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    • Article
      Lock icon LIFFE
      95 26 Jun 2 COCOA (£/tonne) Close Prev High Low Jul 14 1945 1950 1951 1941 Sep 14 1932 1932 1938 1926 Dec 14 1915 1915 1921 1907 Mar 15 1906 1906 1910 1899 COFFEE(US$/tonne) Close Prev High Low Jul 14 1933 1937 1948 1909 Sep 14 1951 1956 1967 1928
      95 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1056 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 4 0.3 1 -54 3.84 49 Asia-Pacific Strategic W*****6 2.9 -0.2 2332 1 2 59 Acma Ltd W*****7 Exer Price Asiatic Grp(Hldgs) Ltd W*****5 Disc Asiatravel.com HoldingsW*****7 5.3
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    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 26 CRUDE OIL PRODUCTS Jun 02 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 109.26 -0.30 WTI (Near Mth) 102.36 -0.40 Dubai (1-Mth F) 105.08 -0.81 Tapis blend 113.29 -0.07 Minas 108.69 -0.07 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 103.58 -1.81 Jet Kerosene 118.03 -0.43 US$/barrel OpecOil Basket
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    • Article
      Lock icon US$/S$ FORWARD RATES
      22 26 Jun 3 S$ Bid Offer 1-month 1.2558 1.2568 2-months 1.2558 1.2568 3-months 1.2557 1.2568 6-months 1.2556 1.2566 Source: OCBC
      22 words
    • Article
      Lock icon LONDON METALS
      66 26 Jun-02 Jun-02 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1816.50 1806.50 3 months 1850.00 1838.00 Copper, Grade A(US$/tonne) Cash 7006.50 6919.00 3 months 6932.50 6845.00 Lead(US$/tonne) Cash 2098.50 2069.75 3 months 2123.00 2095.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
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      Lock icon Page 27 Advertisements Column 1
      205 27 Find your groove in America From the heart and soul of Chicago blues to the country twang of Texas, discover the musical legacy that can only be found in America. Fly Emirates daily to 48 destinations* across the USA with service to Chicago starting 5th August. emirates.com/sg Lie-Flat Business Class
      205 words
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  • executive Money
    • Article
      Lock icon US life insurers driven to riskier assets
      980 28 Low bond yields hurting profitability of insurance products with guaranteed returns Reuters [NEW YORK] THE rock-bottom yields on offer in the corporate bond market are putting pressure on investment returns for US life insurers and driving them into riskier and less liquid investments
      Reuters  -  980 words
    • Article
      Lock icon EU curbs hitting Swiss private banks ‘for years’
      523 28 Bloomberg [GENEVA] Geneva’s private banks may have to wait years before they can prospect for business in the European Union from Switzerland and service clients across borders, according to a managing partner at the city’s oldest bank. The EU won’t allow the
      Bloomberg  -  523 words
    • Article
      Lock icon US bond issues fall 25% as cities, states cut spending
      802 27 Investors forced to bid on lower-quality credits Reuters [WASHINGTON] US cities and states are leery of borrowing more money despite near-record low interest rates, forcing bond funds to scour for investments and boosting returns on existing debt. The drought in
      Reuters  -  802 words
    • Article, Illustration
      Lock icon Better for S Korea to stay emerging
      1153 27 Money managers do not welcome an MSCI upgrade to developed market status Bloomberg [SEOUL] FOR South Korean stocks, it’s better to be a big emerging market than a small developed one. Instead of welcoming a potential upgrade to developed status by MSCI Inc,
      Bloomberg; PHOTO: BLOOMBERG  -  1,153 words
  • Page 28 Advertisements
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      Lock icon Page 28 Advertisements Column 1
      110 28 A dynamic city A bank renowned for innovation 50 remarkable years in Singapore X X < I te I 4 m ■ki From transport to property to commodities, J.P. Morgan has been at the forefront of many pioneering deals that have helped build today’s Singapore. For 50 years, we’ve enabled
      110 words