The Business Times, 20 May 2013

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Total Pages: 32
1 32 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Monday, May 20, 2013
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  • 626 1  -  Tata Motors latest to do so, raising S$350m through 5-year bonds By SIOW LI SEN [SINGAPORE] More companies in India are tapping the Singapore debt market with Tata Motors being the latest to do so, raising S$350 million through fiveyear bonds. Bankers say
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  • MARKETS DIGEST
    • 57 1 Weekly Change ST INDEX 3,449.30 +5.53 KL COMP 1,769.16 -3.22 NIKKEI 225 15,138.12 +530.58 HANG SENG 23,082.68 -238.54 SET INDEX 1,627.96 +5.48 JAKARTA COMP 5,145.68 +39.74 MANILA COMP 7,279.87 +17.49 SEOUL COMP 1,986.81 +42.06 SHENZHEN B 864.17 +17.11 MUMBAI IND 20,286.12 +163.80 DOW 15,354.40 +235.91 NASDAQ 3,498.97 +62.39 S&P
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    • 20 1 SINGAPORE MALAYSIA HONG KONG 5.38 TAIWAN 5.00 JAPAN 13.186 TAIWAN 5.036 JAPAN 1.475 KOREA INDIA BRITAIN Source: Bloomberg
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    • 49 1 US$ S$ US$ (S$ per US$) 1.256 (US$/S$ per 1.525 1.915 EURO (US$/S$/E) 1.288 1.618 Foreign currency per US$ S$ YEN 102.50 81.60 RM 3.021 2.405 HK$ 7.764 6.181 BAHT 29.85 23.76 RUPIAH 9,763 7,772 RENMINBI 6.140 4.888 INDIAN RUPEE 54.93 43.73 A$ 1.026 0.817 NZ$ 1.232 0.981
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  • 1141 1  -  It prepares for bigger presence in China, eyes Japan office Reit By FELDA CHAY [SINGAPORE] Mapletree Investments, which recently announced a record net profit of $931.7 million for its latest financial year, is looking to ramp up its overseas business and potentially list a real
    PHOTO: ARTHUR LEE  -  1,141 words
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    • 214 1 DIAMONDS Asian markets hold hope for a rebirth PAGE 3 DINING OUT On a Thai high PAGE 25 YOUNG INVESTORS’ FORUM The time value of money PAGE 12 VIEWS FROM THE TOP Positive about Malaysia PAGES 10-11 BT WEBSITES For breaking news, go to businesstimes.com.sg. For personal finance stories, go
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  • TOP STORIES
    • 872 2  -  Bernanke may use Congress address to give overheated stock market a good dousing WALL STREET INSIGHT By ROB CURRAN THE mood in the stock market has shifted from anxiety to euphoria, and the only thing that could change that is the
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    • 655 2  -  Billion dollar complex will service Duqm SEZ By RONNIE LIM [SINGAPORE] Sembcorp, through new subsidiary Sembcorp Utilities (Oman), has entered into a joint venture with Oman’s Takamul Investment Company to develop a centralised utilities complex the cost of which could run into
      655 words
    • 461 2 Mapletree ramps up overseas business MAPLETREE Investments, which recently announced record net profit of $931.7 million for its latest financial year, is looking to ramp up its overseas business, and potentially list a real estate investment trust made up of office assets in Japan in two years. FRONT
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    • 834 3  -  Dealers target China and others in Asia to put the sparkle back into the industry By NEIL BEHRMANN in London DIAMOND dealers and manufacturers in Belgium, Israel and India are targeting China and other Asian nations to pull their business out of the
      PHOTO: BLOOMBERG  -  834 words
    • 416 3  -  Its model has been lauded by market watchers, investors By FELDA CHAY [SINGAPORE] Real estate investment trusts (Reits) that Mapletree Investments sponsors in the future will adopt the well-received fee income model of its recently launched Mapletree Greater China Commercial Trust (MGCCT), said
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  • Page 2 Advertisements
    • 300 2 I crown myself with a quality education. It*s my choice. V >r~ Success means the world to us, but it does not come about overnight. It is the culmination of sound decisions and equally offbeat ones. In partnership with prestigious triple-crown accredited universities that have produced many well-known graduates, it’s
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    • 18 2 The best pure-play private bank in Asia EFG Bank Asiamoney Private Banking Poll 2012 30 global locations www.efginternational.com
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    • 113 3 B V LG A R I ft as *K j :.r^ :V>C^ W -3* L_ S T> r:' <%> TMi V <*' ■A wm At 5&, us *> Mm w-x^f:\w% i HIP v?m ’*sBVLGARI Si* 7* fb/ k l s ±Z' 5 .gj: A I b swk; z. *03 ETERNAL
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  • COMPANY NEWS
    • 629 4  -  One-time hit of US$52.6 million; revenue for the year down 26% By KALPANA RASHIWALA DRY bulk shipping group Mercator Lines (Singapore) has posted a US$77.7 million group net loss for the year ended March 31, 2013, against a net profit of US$7.8
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    • 371 4  -  By KALPANA RASHIWALA WE Holdings has entered into a non-binding agreement to buy a 20 per cent stake in cement manufacturer Dragon Cement Co Ltd in Myanmar for US$20 million from businessman Nay Win Tun. Mr Nay is chairman of the Ruby
      371 words
    • 723 4 Bloomberg [HONG KONG] The amount of dollardenominated bonds issued by companies in Asia is growing almost 10 times faster than the global corporate debt market, raising concern that investors are lowering their standards as they seek to take advantage of
      Bloomberg  -  723 words
    • 254 4 COMPANY MEETING PLACE DATE TIME Elektromotive Grp E 108 Robinson Road Level 11 Finexis Building 20-May 10.00am Oxley Hldgs E Raffles Lounge (Level 2) Raffles Country Club 450 Jalan Ahmad Ibrahim 20-May 10.00am Far East Group E 112 Lavender Street #04-00 Far East Refrigeration Building 21-May 11.30am Ascendas
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    • 281 4 May 17 BANKS Agricultural Bank Of China 5.50 Agricultural Bank Of China Bangkok Bank Public Co. Ltd 6.00 Bank of China Limited ...5.50 Bank of Communications ...6.00 Bank of East Asia ...5.50 Bank of Communications Bank of Taiwan Bank of Tokyo-Mitsubishi Banque Internationale a Bank of Taiwan
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    • 1653 5 INSIDE MARKETS THERE was more buying but the selling among directors was flat for the second straight week, according to Singapore Exchange filings from May 13 to 17. A total of 19 companies recorded 29 purchases worth $6.63 million versus six firms with eight disposals
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    • 1205 4 Bank Julius Baer Co. Ltd. Consolidated Balance Sheet 31.12.2012 31.12.2011 Change Assets CHF 1,000 CHF 1,000 CHF 1,000 Cash 9,150,215 4,233,883 4,916,332 Due from banks 7,425,978 10,758,566 -3,332,588 Loans 18,294,136 15,265,054 3,029,082 Trading assets 4,148,649 4,935,549 -786,900 Derivative financial instruments 1,201,586 2,104,465 -902,879 Financial investments available-for-sale 11,698,891 12,079,574 -380,683 Property
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  • Page 5 Advertisements
    • 307 5 ALMATY Seoul Beijing Bangkok Kuala Lumpur Hong Kong Ho Chi Minh Beijing Almaty 5 times a week Kuala Lumpur Almaty B times a week Bangkok Almaty 7 times a week Seoul Almaty jjk 2 times a week Ho Chi Minh Almaty 2 times a week Hong Kong Almaty 3 times
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  • SINGAPORE MARKETS
    • 504 6  -  STOCKS KENNETH LIM Correspondent GLOBAL equity markets will be searching for clues in the week ahead on whether the US market’s eye-popping rally has legs, and what this means for everyone else. The US Dow Jones Industrial Average set another record before
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    • 607 6 CURRENCIES Bloomberg [NEW YORK] The US dollar last week gained the most in almost two months against the euro, amid bets that the Federal Reserve will slow its asset purchases under the quantita-tive-easing stimulus strategy on signs that the
      Bloomberg  -  607 words
    • 1428 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price AIMS AMP Capital Industrial REIT 2.00 2.00 4 9.80 18.93 1.82 1.86 Amtek Engineering Ltd 3.25 3.25 4 0.05 8.09 0.59 0.50 ARA Asset Management Limited 2.57
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    • 4 6 WEEKLY
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    • 73 6 May 17 VALUE CLOSE BT OB/OS 351.00 +164.00 BT CADI -*****.00 +21.00 BT 10-day MA -*****.00 +36.00 FTSE ST Mid Cap 847.71 +0.22 FTSE ST Small Cap 600.80 +2.47 FTSE ST All Share 848.93 -0.28 FTSE ST China Top 217.02 +0.09 FTSE ST China 247.34 +0.51 FTSE
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    • 57 6 VOLUME GSH Corp R 840,763,000 Armarda 819,980,000 YHM 610,058,000 Innopac 565,256,000 Thai Beverage 500,367,000 Sunmoon 498,200,000 Golden Agri 494,035,000 SingHaiyi 408,227,000 WE Hldgs 304,200,000 NexGenSCom 285,402,000 VALUE($) SingTel 393,812,191 Thai Beverage 333,331,126 DBS Grp 319,599,853 Golden Agri 275,045,457 GLP 255,520,765 Noble Grp 215,081,589 UOB 201,874,584 Keppel Corp
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    • 637 6 COMMODITIES AFP [LONDON] Commodity prices mostly weakened last week, hit by a stronger US dollar and falling demand for raw materials amid persistent concerns about the state of the troubled global economy, according to analysts. Figures published last Wednesday revealed that the dogged
      AFP  -  637 words
    • 115 6 BY CENTS CLOSE UP IS S&P500 ***** 295.1 1.4 DBXT MSJAP 10US$ 4662 141.9 2.5 DBXT Nifty 10US$ ***** 130.6 0.9 DBXT MSTaiwan 10US$ 1932 96.7 4.2 DBXT MSKorea 10US$ 5737 75.3 1.1 Lyxor Nasdaq100 10US 1209 72.8 5.0 Great Eastern 1880 68.0 3.8 Hyflux 6% CPS 10 *****
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    • 124 6 BY CENTS CLOSE DOWN GLD 10US$ ***** -848.8 -4.8 DBXT SPASX200 10US$ 4011 -172.0 -3.3 DBXT DBCBDJUBS 10US$ 3072 -126.8 -3.2 DBXT E50 10US$ 4312 -109.2 -2.0 JMH 6762 -85.4 -1.0 DBXT STGLDv100 10US$ 3077 -66.6 -1.7 Lyxor China H 10US$ 1426 -60.3 -3.3 DBXT FTChina25 10US$ 2864 -59.0
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    • 5 6 WEEKLY
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  • Page 7 Advertisements
    • 172 7 INTRODUCING A NEW BUSINESS EXPERIENCE. t k I 4^ Samsung is elevating your business to the extraordinary standards you’ve come to expect in your everyday life. People everywhere are enjoying the benefits new technology brings to their everyday lives but are slow to experience these advances in the business world.
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  • SINGAPORE NEWS
    • 176 8 DBS Marina Regatta 2013, billed as Singapore’s biggest water sports festival, attracted close to 140 dragon boating teams from the region, up 50 per cent from last year. The turnout last weekend included national teams from Australia, Brunei, Indonesia and
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    • 317 8 Offence involving $500,000 understood to have taken place at Serangoon Gardens branch AN EMPLOYEE of Standard Chartered Bank will be charged in court today for criminal breach of trust (CBT) involving $500,000, BT understands. The offence by the 48-year-old woman is understood to
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    • 2026 8 Payment Ex Rec Pay Ann (cts) date date date date ABR Hldgs ak 1.000 06-May 08-May 28-May 15-Apr Action Asia ak 0.700 10-May 14-May 28-May 04-Mar Advanced Hldgs ak 0.300 03-May 07-May 22-May 11-Apr Adv Int Mfg ak 0.160 06-May 08-May 20-May 04-Mar AEM Hldgs ak 0.350 05-Jun
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  • Page 8 Advertisements
    • 1384 8 Toll free 1800-289-8822 Email notices@sph,com.sg www.cats.com.sg/notices Credit Suisse Consolidated Statements of Comprehensive Income Capital Adequacy Report of the Statutory Auditor on the Consolidated Financial Statements to the General Meeting of Shareholders of Credit Suisse AG, Zurich As statutory auditor, we have audited the accompanying consolidated financial statements of Credit Suisse
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  • DIVERSITY: EDUCATIONAL PATHWAYS
    • 1232 9  -  Singapore accountancy educational providers are enriching the learning experiences they offer. ByKAN KAN KWOK LEONG A REVOLUTION is sweeping the world of higher education in the form of a one-year-old tech start-up known as Coursera. Started by two computer science professors from Stanford University
      PHOTOS: (CLOCKWISE FROM ABOVE) SINGAPORE MANAGEMENT UNIVERSITY; NANYANG BUSINESS SCHOOL, NTU; KAPLAN SINGAPORE  -  1,232 words
    • 169 9 ESTABLISHED in April last year, online college course provider Coursera is making waves in the education sector, by tying up with top universities to offer free online courses in the humanities, medicine, biology, social sciences, mathematics, business and computer science, among others. Students can choose from over
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    • 125 9 THIS year’s ACCA Singapore Annual Conference will explore how diversity can assist businesses in building resilience in this uncertain and challenging economic climate and prepare them for opportunities that lie ahead. It will also examine how harnessing diversity can help in overseas expansion and improve the
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  • Page 9 Advertisements
    • 56 9 NOT ALL FINANCE PROFESSIONALS COME COMPLETE Unlike some, ACCA accountants are properly grounded in all areas of business and finance including reporting, taxation and audit. This ensures truly forward looking ‘business ready’ finance professionals who can help grow your business. Find out more at www.accaglobal.com/complete or call +65 6734 8110
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  • VIEWS FROM THE TOP
    • 2382 10 THIS WEEK’S TOPIC: How do you view Malaysia from a business viewpoint after the election? What opportunities do you see, and what risks? Sam Yap Group Executive Chairman HTwo Investments Holdings Pte Ltd FROM the business perspective, we do not see any drastic change or risk in
      PHOTO: BLOOMBERG  -  2,382 words
  • Page 10 Advertisements
    • 121 10 TRADE THE WORLD'S MOST LIQUID MARKET WITH YOUR LOCAL FOREX SPECIALIST Deal around the clock on a wide range of major, minor and exotic currency pairs. Access tight spreads with EUR/USD and AUD/USD from just 0.8 pips, and unique risk management tools. Plus, FX rebates available for high-volume traders. CFD
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  • Page 11 Advertisements
    • 567 11 Enjoy a 6% p.a.* payout with our CIMB Renminbi (CNH) Growth Structured Deposit. Our perks are purely financial. We know what perks truly matter to our clients. That’s why we’d rather offer you financial advantages instead of just trivial luxuries. With our CIMB Renminbi (CNH) Growth Structured Deposit, you get
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 1639 12  -  The thought process of travelling in time is a core concept in financial planning, says CAI HAOXIANG CAI HAOXIANG YOU are having a picnic at Fort Canning Park and stumble across an old oil lamp. Having a Disney-honed instinct for this kind of thing, you
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    • 1272 12  -  Jeremiah Chongcombines his love of music and flair for sales by starting a music school, reportsCAI STARTING YOUNG CAI HAOXIANG FROM selling Apple computers in the chaos of a PC show to performing a violin solo with a chamber orchestra in a hushed
      PHOTO: YEN MENG JIIN  -  1,272 words
  • Page 12 Advertisements
    • 156 12 Get started now Be a young investor DO you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to
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  • MALAYSIA/INDONESIA
    • 379 13 He also says govt will keep debt to GDP ratio well below 55% [KUALA LUMPUR] Malaysia will be able to rake in an additional income of up to RM27 billion (S$11.25 billion) if the proposed goods and services tax
      PHOTO: DESMOND FOO/ THE STRAITS TIMES  -  379 words
    • 220 13 Xinhua [JAKARTA] The Indonesian government has allocated some 29.6 trillion rupiah (S$3.8 billion) in compensation funds that would be provided for people affected by its plan to increase prices of subsidised fuel. The funds allocated for poor people affected by the
      Xinhua  -  220 words
    • 1460 13 VOL May 17 RM +/-(‘000) A M Realty 0.83 0.03 5339 VOL Advance Synerg 0.16 unch 1078 Adventa Bhd 0.43 0.01 45 Ae Multi Hldgs 0.24 -0.01 957 Affin Holdings 4.36 0.16 2738 Ahmad Zaki Res 0.85 0.02 948 Airasia Bhd Alliance Finan 4.95 unch 1041 Aluminium Co
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    • 265 13 Bloomberg [JAKARTA] Indonesian President Susilo Bambang Yudhoyono has called on Freeport-McMoRan Copper Gold to step up rescue efforts at the world’s sec-ond-largest copper mine, where 23 people are unaccounted for after a tunnel collapsed, killing five workers. Mining has been halted since the collapse
      Bloomberg  -  265 words
    • 362 13 Reuters [JAKARTA] Indonesia has opened a rights tender for 21 oil and gas exploration blocks, four of which are for unconventional gas concessions on the islands of Borneo and Sumatra, as South-east Asia’s largest economy moves to shore up its energy
      Reuters  -  362 words
  • Page 13 Advertisements
    • 133 13 The Leading Global Finance Master Degree Program for working professionals m m sf 50 n I T: W Master of Science in Global Finance Aground-breaking one-year, modular, executive-format master degree program jointly developed by the HKUST Business School and NYU Stern School of Business, the MSGF Program takes the latest
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  • GREATER CHINA
    • 317 14 Move is a step towards reducing its high levels of roadside pollution AFP [HONG KONG] Hong Kong has launched its first electric taxis, in a step towards reducing the city’s high levels of roadside pollution. The 45 bright red cars were launched by
      AFP; PHOTO: AP  -  317 words
    • 707 14 Annual art show has until now been held only in Switzerland and the US AFP [HONG KONG] Art lovers, collectors and gallerists will gather on Thursday for Hong Kong’s inaugural edition of Art Basel, sealing the city’s status as an
      AFP  -  707 words
  • Page 14 Advertisements
    • 1341 14 ARAB BANK GROUP (Incorporated In Amman, Jordan) Assets Consolidated Statement of Financial Position as at December 31, 2012 and 2011 2012 2011 USD ‘000 USD ‘000 Cash and balances with central banks 7 749 111 7 787 678 Balances with banks and financial institutions 4 841 549 4 084 882
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  • INDIA
    • 608 15 Delhi says it thinks ‘very highly’ of Li’s decision to make India first stop of his maiden foreign trip AFP AP [NEW DELHI] Chinese Premier Li Keqiang arrived in India yesterday on the first stop of his maiden foreign trip, weeks after
      AFP; AP; PHOTO: AFP  -  608 words
    • 715 15 Party starts ad campaign indicating such a move Reuters [NEW DELHI] India’s Congress party is debating holding a general election in November, six months ahead of schedule, senior party leaders said, reflecting an internal discussion over whether to pull the plug on the
      Reuters  -  715 words
  • Page 15 Advertisements
    • 130 15 THE LUXURY COLLECTION BY DAM AC PROPERTIES Own an exclusive designer apartment with everlasting sea views in Dubai Marina, interior design by Fendi Casa i I? V FENDI CASA il MM Own a Hollywood inspired luxury hotel apartment by Paramount in the Burj Khalifa area, Dubai x w/W I <9
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  • ECONOMY WATCH
    • 372 16 Reuters [LONDON] An independent Scotland would have a vastly oversized financial sector that would leave it vulnerable to a Cyprus-style banking crisis, Britain’s finance ministry says. Before a referendum due in September 2014 on whether Scotland should split from the United Kingdom, the British
      Reuters; PHOTO: REUTERS  -  372 words
    • 627 16 Fitch rating upgrade comes as govt pitches privatisation plans in China AFP [ATHENS] Data released last week showed Greece entered its sixth straight year of recession, but there is now cautious optimism about the economy’s prospects although unemployment is still hitting record
      AFP; PHOTO: REUTERS  -  627 words
    • 270 16 Bloomberg [LONDON] Bank of England governor Mervyn King said he isn’t satisfied with the pace of the UK’s recovery and that more needs to be done to boost growth. “It’s only a modest recov- ery, and we certainly can’t be satisfied
      Bloomberg  -  270 words
    • 376 16 Letta needs to shift away from austerity agenda, say unions Reuters [ROME] Thousands of Italians gathered in Rome against austerity policies and high unemployment, urging new Prime Minister Enrico Letta to focus on creating jobs to help pull the country out
      Reuters  -  376 words
    • 330 16 Bloomberg [WASHINGTON] US Federal Reserve chairman Ben Bernanke said that technological change will remake fields like healthcare and belie predictions that innovation will fade and economic growth will wane. “Pessimists may be paying too little attention to the strength of the
      Bloomberg; PHOTO: AP  -  330 words
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  • WORLD
    • 616 17 Town offers tax waivers, fast regulatory process and skilled labour AP [FREMONT, California] In a busy factory, machinists move sheets of aluminium roll in the back door to be molded, stamped, twisted and notched into high-tech electric cars that sell for more
      AP; PHOTO: AP  -  616 words
    • 269 17 Headcount also may go up by 5-10%, says report Reuters [NEW YORK] Wall Street bonuses and staff levels are expected to rise this year as trading and dealmaking activity pick up, according to a closely watched report released on Friday by a compensation
      Reuters  -  269 words
    • 793 18 Who knows if these debt market players will be able to make good on obligations Reuters [NEW YORK] With the world’s biggest central banks driving yields on safe assets to near zero, some investors are tossing caution to the wind and rushing to buy
      Reuters  -  793 words
    • 568 18 Reuters [MADRID] Many duped savers at Spanish lender Bankia are shunning a state-su-pervised compensation scheme in favour of expensive lawsuits, prolonging a mis-selling scandal and complicating efforts to restore faith in the banking system. The disputes over mis-selling at Bankia and other nationalised banks have
      Reuters; PHOTO: REUTERS  -  568 words
    • 442 18 This raises prospect of strikes at gold, coal mines Reuters [JOHANNESBURG] South Africa’s National Union of Mineworkers said it will seek pay rises of up to 60 per cent from gold and coal producers, raising the prospect of fresh strikes as firms
      Reuters  -  442 words
    • 198 18 AFP [SEOUL] North Korea yesterday test-fired a short-range missile off its east coast, its fourth in two days, despite pleas from South Korea and the UN chief to halt the launches at a time of high tensions. The guided missile
      AFP  -  198 words
    • 610 19 But critics say yen’s plunge risks sparking battle among countries intent on driving down their currencies AFP [TOKYO] Japan’s earnings season has drawn to a close with the sharply weaker yen helping inflate profits at some of the nation’s top exporters, but some
      AFP  -  610 words
    • 524 19 Surge comes as middle class housing is in short supply NYT [NEW YORK] Only 10 floors have been completed in what is intended to be the tallest residential building in the Western Hemisphere a slender, 84-story tower on Park Avenue at 56th
      NYT; PHOTO: NYT  -  524 words
    • 357 19 Recycling of more water mooted as a sustainable solution AFP [CHIANG MAI] Asia’s flood-prone megacities should fund major drainage, water recycling and waste reduction projects to stem deluges and secure clean supply for their booming populations, experts said yesterday. Rapid
      AFP  -  357 words
    • 799 20 Their disputes must not get out of hand as economic stakes are high: analysts AFP [BRUSSELS] The latest tit-for-tat EU-China trade disputes could signal worse to come but both sides have a lot to lose if things get out of
      AFP; PHOTO: REUTERS  -  799 words
    • 468 20 Reuters [SAN FRANCISCO] Google staged four discussions expounding on the finer points of its “Glass” wearable computer during last week’s developer conference. Missing from the agenda, however, was a session on etiquette when using the recordingcapable gadget, which some attendees faithfully wore everywhere
      Reuters  -  468 words
    • 645 20 What it wants is FDI and not more portfolio capital Reuters [LONDON] The coveted investment grade rating has arrived in Turkey and foreign capital may follow possibly a lot of it. But here’s the multi-million lira question: What kind of cash will
      Reuters  -  645 words
    • 665 21 Fighting tax evasion, money laundering take back seat amid deepening recession AFP [BRUSSELS] European leaders gather this week for a summit overshadowed by rampant unemployment and the deepening eurozone recession, but with hopes of breaking down resistance to a planned crackdown
      AFP; PHOTO: AFP  -  665 words
    • 349 21 Reuters [BRUSSELS] Critics have ridiculed European Union bureaucrats for taking time off fighting the euro zone’s debt crisis to impose strict new rules on how restaurants serve olive oil. From Jan 1, 2014, eateries will be banned from serving
      Reuters  -  349 words
    • 456 21 This is partly due to political wrangling over federal budget AFP [WASHINGTON] Austerity or growth? Europe’s struggling economies have faced the question without fully answering it in recent years, but the United States is on track to do both. Projections
      AFP  -  456 words
    • 762 22 Immigration bill in limbo as union says there is no shortage of skilled workers Reuters [WASHINGTON] The technology industry and organised labour are locked in a fight that threatens to complicate the US Senate’s immigration bill. At the heart of the debate
      Reuters; PHOTO: AP  -  762 words
    • 508 22 ‘Criminality’ in CajaMadrid’s US bank buy: judge Bloomb erg [MADRID] The sight of Miguel Blesa, the former chairman of Caja Madrid, being driven to jail in a police van suggests Spain may be calling bankers to account after the nation needed
      Bloomberg  -  508 words
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    • 470 17 o A CammunicAsia2IJ13 The 24th International Communications and Information Technology Exhibition Conference 18-21 June 2013 Basement 2, Level 1 3 Marina Bay Sands i. Bridging Communication Borders, Optimising Business Opportunities Asia’s Largest Info-Communications Technology Event Witness product launches and demonstration with latest key technologies LTE 4G, OTT, IPTV, mobile innovations,
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  • Page 18 Advertisements
    • 484 18 Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices Bangkok Bank Public Company Limited (INCORPORATED IN THAILAND) Notes to the accounts and the list of subsidiary companies which form an integral part of the financial report can be obtained upon request from Bangkok Bank Public Company Limited at 180 Cecil Street, Bangkok Bank
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  • Page 19 Advertisements
    • 72 19 Creating Experience. Value. Partnerships We bring Inspiration, Innovation, Value to your business! Myanmar O We help you make a mark in the Myammar sector: Hospitality&Tourism Urban Development Banking Finance Logistics Supply Chain Leverage on our 2013 conferences today. Organised by: sphere SINGAPORE PRESS HOLDINGS Find out more about the events
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    • 533 19 mma NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices IN THE MATTER OF THE COMPANIES ACT, CAP .50 AND IN THE MATTER OF AGNILAK PTE. LTD. (In Members’ Voluntary Liquidation) Company Registration No. *****1401K At an Extraordinary General Meeting of the Company duly convened and held at 1 Raffles Link /#05-02,
      533 words
    • 727 19 BEAHSilfi 10 DES VOEUX ROAD CENTRAL, HONG KONG CONSOLIDATED INCOME STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2012 2012 2011 Restated HK$Mn HKSMn Interest income Interest expense Net interest income Fee and commission income Fee and commission expense Net fee and commission income Net trading profits Net result from financial
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  • Page 20 Advertisements
    • 863 20 wato notices i Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices 1 NOTICE OF RESULTS OF MEETING ASIA PACIFIC BREWERIES LIMITED (UEN/Company Registration No. *****0007K) (Incorporated in the Republic of Singapore) Notice to holders (the "Noteholders") of the outstanding S$100,000,000 3.55 Per Cent. Fixed Rate Notes Due 2014 (the "Series 001 Notes")
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    • 384 20 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SBC BUKIT MERAH PTE. LTD. (Co Registration No. *****0995E) (Incorporated in Singapore) (In Members’ Voluntary Liquidation) NOTICE OF RESOLUTION At an Extraordinary General Meeting of SBC Bukit Merah Pte. Ltd., duly held at 200 Man Sultan
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    • 135 21 IV M i j I w- 1 TW V *< L 3 i/ 'it /51 >T j i applause 4* •Ml Bit -\a ir A*? £fc. •6e)’<Sc»* c WtiA' asei^-agfi/ifu// sj /uj> sAuiy, decries' BlITsf COURSE, MY IDEA IS THE BEST! —fS)*,©?—• Curiouser and curiouser the adventures in Adland have
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    • 208 22 CALL FOR PERFORMERS Step Right Up! Be part of ChildAid 2013 CarnivalEdition Young ladies gentlemen, step right up! If you think you can sing, dance, play a musical instrument or perform a circus act, come try out for our next ChildAid concert! Email your entry to childaid@sph.com.sg by June 8,
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    • 61 23 WITH TRAVEL WITH KISS WITH DINE BOND WITH KISS A PERFECT DAY WITH KISS A HAPPIER DAY WITH GREAT PRIZES WHEN YOU TUNE IN TO KISS92 TODAY! klSS92 All the great songs in one plac DOWNLOAD THE KISS92 MOBILE APP NOW! KISS92 is part of sph radio network Kiss us
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  • AVIATION/SHIPPING
    • 763 24 They could also be barred from Europe airports for not complying with rules NYT [BRUSSELS] The European Commission said Air China and Air India are among 10 Chinese and Indian airlines facing the prospect of fines and exclusion from airports in the
      NYT; PHOTO: BLOOMBERG  -  763 words
    • 542 24 Reuters [COPENHAGEN] AP MollerMaersk, owner of the world’s biggest container shipping company, is “100 per cent certain” it can more than double freight rates in July despite market weakness that has seen prices fall by a third since March. Shipping has taken a hammering
      Reuters  -  542 words
    • 273 24 Govt declares war on the unions at state-run ports Reuters [JERUSALEM] Israeli Prime Minister Benjamin Netanyahu said yesterday that Israel would issue a tender to build a privately run seaport in the coming months, a move that would break up the monopoly controlling
      Reuters; PHOTO: AP  -  273 words
    • 233 24 SGX '000 May 17 S$ +/-Vol CH Offshore '000 Chuan Hup Hldg 0.27 0.01 601 Cosco Corp 0.81 unch 1144 Vol First Ship Lea 0.13 unch 215 Freight Links 0.09 unch 6444 Grand Banks............unch unch 0 Jaya Hold Ltd 0 81 K1Ventures...............0.17 unch 3509 Keppel Corp 10.90 0.05
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    • 360 24 AP [WASHINGTON] The growing use of unmanned surveillance “eyes in the sky” aircraft raises a thicket of privacy concerns, but the US Congress is getting mixed advice on what, if anything, to do about it. A future with domestic drones may be inevitable.
      AP  -  360 words
  • Page 24 Advertisements
  • Page 24 Miscellaneous
    • 356 24 CRYPTIC CROSSWORD Across 1 Reason with star about famous controversy? (5,7) 9 Goddess represented in art, I’d hope (9) 10 New in team, but spiteful (5) 11 Place with stiff identification requirements? (6) 12 Peace’s disrupted about poster showing daring activity (8) 13 Salad ingredient to go up steeply? (6)
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  • DINING OUT
    • 987 25  -  Adam Cliff’s overhaul of Kha restaurant’s menu puts it in pole position among Thai eateries here, writes JAIME EE JAIME EE NEW CHEF Kha Martin No 38 38 Martin Road Tel: 6476-9000 Open for lunch and dinner daily: 12pm to 3pm; 6pm to 11pm WHEN it
      PHOTOS: KHA RESTAURANT, JAIME EE  -  987 words
  • Page 25 Advertisements
    • 115 25 U always! like us on O facebook/ufmlOOS follow us on twitter@ufml003 www.uf m lOOS.sg UFM aE 100.3 g /s c. tf o U SHINE Take a step back. Reflect on life. As we get caught up in the hustle and bustle of daily life, let's pause and be thankful for
      115 words
    • 114 25 WWW my sg I A > > S s s B. r Wine, Dine Hospitality Highlights a’* 1 s’*; TEA INSPIRED, ARTISTICALLY CREATED Palatable culinar)' art for our indulgence. From now till June 2013 Golden Peony brings back its popular tea inspired menu with more innovative culinary creations, infused with
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    • 21 25 LIANHE ZAOBAO Mm Singapore companies enter Myanmar market by partnering with local businessmen To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • SINGAPORE STOCKS
    • 3489 26 Week ended: May 17 52-wks Last Vol Week Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company Last Sale Vol 10.4 7 AEM --AAT High Low Buyer Seller 188 106 AIMSAMPIReit 185.5 +1.5 4403 188 182.5 185.5
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    • 300 27 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last 2.4 1.3 t Advanced System 1.5 unch 9861 1.6 1.5 1.5 1.6 23.8 Week Last Quote Div Gr Yld Net M Cap High
      300 words
    • 115 27 Stock name Close Change CapMallsAsia 2.030 CapitaLand 3.750 -0.030 CapitaMall 2.290 -0.040 CityDev 11.030 +0.010 ComfortDelGro 2.090 DBS Grp 17.460 +0.180 GLP 2.980 +0.040 Genting SP 1.510 +0.010 Golden Agri 0.575 +0.005 HK Land 7.210 -0.050 Stock name Close Change HPH Trust US$ 0.825 JMH 67.620
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    • 2068 27 Transaction date: May 17 HONG KONG Vol HK$ +/-'000 Aeon Credit 8.60 unch 0 Aeon Stores '000 Angang Steel 4.71 -0.09 ***** Anhui Conch Anhuiexpresswa 4.46 0.03 1544 Asia Satellite 29.50 -0.40 14 Asm Pacific unch Bank Of E Asia 31.05 -0.10 3510 Beida Jade Bir 0.32 unch
      2,068 words
    • 264 27 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 49.1 25 AVJennings A40.5 +0.5 458 41.5 40 39.5 41 3.6 8.6 3.3 147.6 52 30 Genting HK US$ US51 unch ***** 52 50 51 51.5 3358.1
      264 words
    • 186 27 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 9 7 0 0 0 0 9 7 0 Manufacturing 76 88 30 7 24 8 83 112 38 Commerce 35 26 17 8 11 2 43 37 19 Tpt/Stor/Comms 18 19 8
      186 words
    • 1023 27 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 126 107.1 ABF SG Bond ETF 116 -3 62 121 116 117 120 529.5 143 120.4 CIMB APAC Div 100S$D 143 +6.2 18 143 143 143.5
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    • 123 27 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 361,595 361,595 353,884 353,884 Manufacturing 1,905,683 740,229 2,645,912 1,234,645 56,681 1,291,326 Commerce 2,498,580 584,928 3,083,508 626,822 47,311 674,133 Tpt/Stor/Comms 612,322 65,905 678,227 961,621 26,053 987,674 Finance 663,959 5,886 669,845 853,525 2,961 856,486 Construction 509,365 610,826
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  • Page 27 Advertisements
    • 26 27 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES
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  • FINANCE & COMMODITIES
    • 635 28 May 17 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.42 *****.32 *****.30 Jun13 *****.00 *****.00 *****.00 *****.00 *****9 *****9 Sep13 *****.00 *****.00 *****.00 *****.00 2904 ***** MSCI TAIWAN INDEX FUTURES SPOT 302.87 302.87 301.07 May13 303.30 303.80 302.10 302.60 ***** *****6 Jun13 303.00
      635 words
    • 373 28 In local curr In S$ In US$ dy yr dy yr dy yr May 17 Index Change Change Change Change Change Change World Preliminary 1091.2 0.4 16.3 0.5 15.9 0.0 12.7 EAFE Preliminary 915.5 0.4 18.2 0.0 13.2 -0.5 10.0 Europe Preliminary 1285.0 0.4 12.0
      373 words
    • 471 28 May 17 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.997 5.982 0.756 7.563 53.510 95.106 0.999 10.882 2.943 1.200 95.856 40.132 1.224 9.163 0.940 29.275 29.080 0.639 0.974 Canada 1.003 6.000
      471 words
    • 66 28 May 17 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 0.***** 3 mths 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths 0.***** SWAP Mid
      66 words
    • 134 28 May 17 GOLD(US$/oz) May 15 May 16 Hong Kong 1424.50 1389.00 May 16 May 17 London 1389.30 1363.86 1390.05 1364.63 Source: Thomson Reuters CAST BAR May 17 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 126 56 5gm 357 279 10gm 638 558
      134 words
    • 90 28 May 17 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****H 12-Aug-13 0.24 6-Month BS*****V 15-Nov-13 0.26 1-Year BY*****H 02-May-14 0.26 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-13 100.09 5-Year N*****0T 2.375 01-Apr-17 100.07
      90 words
    • 57 28 May 17 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 13 2330.0 2334.0 2339.0 2327.0 466 2753 Jul 13 2338.0 2345.0 2350.0 2336.0 8626 ***** Aug 13 2330.0 2336.0 2342.0 2327.0 ***** ***** Sep 13 2318.0 2326.0
      57 words
    • 155 28 May 17 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2230 1.2244 0.9740 0.9744 Canadian dollar 1.2265 1.2281 0.9773 0.9768 Euro 1.6171 1.6185 1.2879 1.2880 NZ dollar 1.0188 1.0202 0.8114 0.8119 Sterling pound 1.9143 1.9164 1.5246 1.5251
      155 words
    • 109 28 May 17 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 13 1448.50 1427.50 1450.00 1424.00 Aug 13 1378.50 1354.00 1379.50 1350.00 Sep 13 1289.50 1271.50 1290.50 1266.00 Nov 13 1228.25 1217.50 1229.00 1211.50 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 13
      109 words
    • 95 28 May 17 COCOA (£/tonne) Close Prev High Low Jul 13 1549 1529 1555 1521 Sep 13 1555 1535 1561 1528 Dec 13 1556 1538 1561 1530 Mar 14 1548 1529 1553 1522 COFFEE(US$/tonne) Close Prev High Low May 13 2007 2016 2022 2008 Jul 13 2037 2046 2051 2033
      95 words
    • 1148 28 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Acma Ltd. W*****6 Conv Albedo Limited W*****9 0.8 unch ***** Exer Asiatravel.com HoldingsW*****7 1 1 25 14 Asiatravel.com HoldingsW*****5 2.2 1 27 38 Disc Best World Intl Ltd W*****5 Expiry BiosensoBPeCW*****2
      1,148 words
    • 70 28 CRUDE OIL PRODUCTS May 16 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 104.27 2.84 WTI (Near Mth) 95.08 0.78 Dubai (1-Mth F) 99.80 0.77 Tapis blend 108.26 1.04 Minas 101.26 1.04 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 92.89 -0.22 Jet Kerosene 114.64 0.33 US$/barrel OpecOil Basket
      70 words
    • 23 28 May 17 S$ S$ Bid Offer 1-month 1.2556 1.2566 2-months 1.2555 1.2566 3-months 1.2555 1.2566 6-months 1.2552 1.2569 Source: OCBC
      23 words
    • 66 28 May-17 May-17 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1820.00 1825.25 3 months 1849.00 1852.00 Copper, Grade A(US$/tonne) Cash 7274.50 7250.75 3 months 7305.00 7280.00 Lead(US$/tonne) Cash 2006.25 1985.00 3 months 2014.00 1993.50 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.50 3 months
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    • 121 28 As at 9am May 17 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.258 1.199 Can dollar 1.252 1.204 Euro 1.650 1.572 Sterling pound 1.948 1.874 NZ dollar 1.046 1.006 US dollar 1.277 1.217 Local dollars to 100 units of foreign
      121 words
    • 157 28 May 17 $S Offer Bid 0vernight 0.08 0.03 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.06 US$ Offer Bid 7 days 0.22 0.12 1 month 0.28 0.18 2 months 0.40 0.20 3 months 0.45 0.25 6 months 0.60 0.40 9 months 0.75 0.55 12
      157 words

  • 2643 29 BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE n GLOBAL SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE CONVENTIONAL, BREAKBULK PROJECT Destination STXPO TBN Camden/New
    2,643 words
  • Page 29 Advertisements
    • 139 29 J e b e lA Shanghai■ LaemChabang■ Chittagong li Port Klang J e d d a h B r i s b a n e H a m b a n t o t a NYK RORO Conventional ServiceREGULAR SERVICE TO REGULAR SERVICE TO Persian Gulf, Bengal, Red Sea, Australia,
      139 words
    • 18 29 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times Shipping Times
      18 words

  • Page 30 Advertisements
    • 85 30 Importers looking for Warehouse Can they find your services here in the Shipping Times? the business times TO ADVERTISE, CALL JOE WONG AT 9620 1327 Publicise Your Delivery Of Newbuilds Come publicise your Ship Christenings Delivery of Newbuilds, Project Completion, Vessel Conversion Refurbishment, Award Wins Certifications, Corporate Image, Corporate Developments
      85 words
    • 0 30 "~;</(??%?&?$}{@->"^^<-"=+!=`(^
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  • Page 31 Advertisements
    • 485 31 Transform Yourself To Be An Influential Successful Leader Who should attend: Senior and Middle Management, General Management, Supervisors, Marketing PR Consultants, and Sales and Business Development Personnel Productivity and Innovation Credit (Pi g Claimable 2013 MAY SERIES FULL-DAY WORKSHOPS SPH News Centre (9.30am to 6.00pm) FULL-DAY SEMINAR SPH News Centre
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  • BizIT THE BUSINESS OF INFOCOMM TECHNOLOGY
    • 1016 32  -  Its first in the region, it’ll help organisations learn and experience F5’s technologies, saysAMIT ROY CHOUDHURY AMIT ROY CHOUDHURY F5 Networks, which provides solutions that optimise delivery of network-based applications and security for servers and other network devices, is looking for a location
      1,016 words
    • 736 32 Reuters [SAN FRANCISCO] Microsoft Corp is set to make a splash this week with the eagerly awaited unveiling of its new Xbox game console, eight years after the last version, as it seeks a larger share of the US$65
      Reuters  -  736 words
    • 602 32 Move sets stage for competition with Samsung, BlackBerry Bloomberg [WASHINGTON] The Pentagon has cleared Apple devices for use on its networks, setting the stage for the maker of iPhones and iPads to compete with Samsung and BlackBerry for military sales. The Defense
      Bloomberg; PHOTO: AP  -  602 words
    • 642 32  -  Some 80% of video communication may be via mobile device By NG SAI YING THE video conferencing industry is at an inflection point, with personal video conferencing expected to take centre stage in the future. This is a natural progression from room
      642 words
    • 515 31  -  A*Star project looking to help ease transport congestion By AMANDA TAN HAVE you ever tried to get on a train during the peak hours? If you have, you will know the feeling of being confronted with masses of people surging towards the train
      515 words
    • 691 31  -  By NG SAI YING IT’S a common scenario: You drop your new IPhone5 and the screen cracks. Sending it for repair would cost at least $250 and you’ll have to leave it with the repairman for at least a day. Enter MobileCover.sg,
      691 words
    • 425 31  -  Videocam device for aerial photography bags top prize By NG SAI YING HOW would you like to unlock your smartphone by tilting it? Or work out with a “smart” dumbbell that can detect the angle of your swing? These were
      425 words