The Business Times, 3 September 2013

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Total Pages: 29
1 30 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 MCI (P) 085/08/2013 Tuesday, eptember 3, 2013
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  • 1012 1  -  Stock shoots up to regain lost ground as key shareholder makes bid at $1.12 a share By CAI HAOXIANG haoxiang@sph.com.sg [SINGAPORE] Hit hard by a short-seller last week, China Minzhong resumed trading yesterday with a vengeance as major shareholder Indofood Sukses Makmur flexed its
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  • MARKETS DIGEST
    • 65 1 GST INDEX 3,055.72 (+26.78) GST INDEX FUTURES 3,055.00 (+27.00) GSIMSCI 348.32 (+3.39) GSIMSCI FUTURES 347.60 (+3.50) US$ S$ US$ (S$ per US$) 1.274 (US$/S$ per 1.555 1.980 EURO (US$/S$/€ 1.321 1.683 Foreign currency per US$ S$ YEN 99.30 78.00 RM 3.275 2.571 HK$ 7.754 6.088 BAHT 32.10 25.20 RUPIAH
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    • 46 1 Monday Change KL COMP 1,717.56 -10.02 NIKKEI 225 13,572.92 +184.06 HANG SENG 22,175.34 +443.97 SET INDEX 1,323.70 +29.40 JAKARTA COMP 4,101.23 -93.86 MANILA COMP 6,061.80 -13.37 SEOUL COMP 1,924.81 -1.55 SHENZHEN B 808.13 -8.82 MUMBAI IND 18,886.13 +266.41 12noon EDT Change DOW Closed NASDAQ Closed
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    • 20 1 SINGAPORE MALAYSIA MALAYSIA 5.38 6.55 5.00 INDONESIA 13.242 TAIWAN BRITAIN JAPAN US KOREA 9.33 BRITAIN 0.50 Source: Bloomberg
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  • 808 1  -  By NEIL BEHRMANN in London REGARDLESS of whether the US Congress votes for an air strike against the Assad regime in Syria, the Middle Eastern cauldron is likely to underpin the high geopolitical oil price premium. Indeed, a Brent price of US$90-95 a
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  • Page 1 Advertisements
    • 104 1 EMERGING ENTERPRISE AWARDS Celebrating excellence PAGES 12 13 COMPANIES Market shrugs off Muddy Water’s note on Olam PAGE 5 SME Inc From corporate world to mobile eatery PAGE 11 PROPERTY Hotel 1929 sold for $35m PAGE 10 Want to buy your own retail space but unsure of what to look
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  • TOP STORIES
    • 495 2 Minzhong recovers as Indofood gallops in HARD hit by a short-seller last week, China Minzhong bounced right back after major shareholder Indofood Sukses Makmur rode in with a general offer of $1.12 a share that now looks likely to go through. FRONT PAGE Mid-East roil set to underpin
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    • 563 2 Both RON 95, diesel prices rise 20 sen a litre to help save RM1.1b this year Bloomberg [KUALA LUMPUR] Malaysia yesterday raised fuel prices for the first time since 2010, joining neighbouring Indonesia in curbing subsidies that have stretched government budgets and
      Bloomberg; PHOTO: AP  -  563 words
    • 46 2 IN our story “EE winners: Oriental Tanks, Biomax, G-Energy” yesterday, we wrongly gave the impression that each winner received $440,000 in inter-est-free loans from OCBC Bank. We would like to clarify that prizes worth a total of $440,000 include a $150,000 interest-free loan from OCBC.
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    • 510 4  -  It plans to expand the water solutions sector and triple the number of SMEs By MALMINDERJIT SINGH msingh@sph.com.sg [SINGAPORE] The Republic will expand its water solutions industry and intends to triple the number of SMEs in the sector and also diversify into solving
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    • 970 4  -  CITY HARVEST CHURCH TRIAL By MICHELLE QUAH michquah@sph.com.sg [SINGAPORE] An Indonesian businessman and member of the City Harvest Church (CHC) yesterday cast the business of saving souls in terms of a return on investment. Justifying his $1
      PHOTO: LIM SIN THAI/THE STRAITS TIMES  -  970 words
    • 684 4  -  By AYISHAH MA EJ Insight [HONG KONG] China’s manufacturing sector has bottomed and will start to recover in coming months, economists said, with official support and signs of a pick-up in Europe and the United States helping to shore up demand. “The worst for
      EJ Insight  -  684 words
    • 538 4 AFP [LONDON] British telecoms giant Vodafone is set to announce the sale of its US wireless joint-venture stake to partner Verizon in a deal worth US$130 billion. Vodafone on Sunday confirmed that it was in advanced talks with Verizon
      AFP  -  538 words
  • Page 2 Advertisements
    • 245 2 I take giant strides forward with a British education. It*s my choice. In today’s world, it takes a different perspective to make a difference. At Kaplan, through our collaborations with Northumbria University, we create an environment where students thrive and build their own distinctive identity. Choose from a range of
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    • 567 2 Doing Business, The New Normal ARE U IN? A market upheaval is in progress and it is already challenging the way we traditionally do business. This breed of entrepreneurs called ‘technopreneurs’ are fast changing the business landscape, from crowd-funding to how they ‘disrupt’ the market and expeditiously grow their companies.
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  • Page 3 Advertisements
    • 214 3 RICHARD MILLE A RACING MACHINE ON THE WRIST o W •SSl °/hi m 5“ O m sm L w. N V is* V f o 9* o o? I as* O •a, m ■i *5' Sfe s r w 50 $30 55 m is m si w 2* sas ferS?V
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  • Page 4 Advertisements
    • 69 4 SPECTACULAR! IMPRESSIVE. VERSATILE PERFORMANCES!” daily telegraph, uk OF THE 5HREW Z ND 13™ OCTOBER FORT GATE. FORT CANNING PARK Performed initially at the Globe Theatre in London and then on tour on an intimate Elizabethan-style stage with an all-female cast, a troupe of travelling players breathe new life into Shakespeare’s
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  • COMPANY NEWS
    • 579 5  -  Olam up 3.5 cents at $1.47 despite further accusations from Carson Block By ANDREA SOH sandrea@sph.com.sg THE market paid scant attention to the latest note Muddy Waters put out on Olam yesterday, as the stock rose 3.5 cents to close at $1.47,
      PHOTO: BLOOMBERG  -  579 words
    • 555 5  -  It is expected to be a big future earnings contributor By VEN SREENIVASAN ven@sph.com.sg MAINBOARD-listed A-Sonic Aerospace has established an aircraft leasing business which is steadily growing and will contribute significantly to its bottomline in the years to come. The company disclosed this
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    • 227 5  -  By CARINE LEE carinel@sph.com.sg SINGAPORE Press Holdings (SPH) has appointed Quek See Tiat as an independent director to its board with effect from Sept 1, 2013. Mr Quek, 59, has also been appointed as a member of the audit committee and the board risk committee.
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    • 594 8  -  Survey finds those in IA having to play a wider role but with limited resources By JACQUELYN CHEOK By jaccheok@sph.com.sg INTERNAL audit (IA) functions are expected to expand and play a larger role in improving a company’s operations, but many internal auditors here find
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    • 400 8  -  By KENNETH LIM kenlim@sph.com.sg MAYBANK Kim Eng has been appointed a financial adviser to Thai Beverage Public Co as the beer brewer seeks to integrate recently acquired Fraser and Neave (F&N), market sources said. Maybank Kim Eng could not be reached for comment.
      PHOTO: BLOOMBERG  -  400 words
    • 366 8  -  By nishar@sph.com.sg NISHA RAMCHANDANI nishar@sph.com.sg RAWA Investments, a wholly owned subsidiary of Malaysia’s sovereign wealth fund Khazanah Nasional, is exercising a put option to sell a 10 per cent stake in OUC back to Raffles Education Corporation. This is
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    • 221 8  -  By NISHA RAMCHANDANI nishar@sph.com.sg THE CNA Group’s Viet-nam-based subsidiary, CNAHTE Vietnam Co, has landed a $10.6 million contract to renovate, upgrade and expand the domestic terminals in Ho Chi Minh’s Tan Son Nhat International Airport. Under this project, CNA will provide mechanical, engineering
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    • 1495 9 Risk of military strikes in Syria boosts oil and gold; emerging markets decline Bloomberg [LONDON] Commodities beat bonds, stocks and the US dollar for a third month, the longest winning streak in two years, as the prospect of military strikes in Syria boosted oil
      Bloomberg; PHOTO: BLOOMBERG  -  1,495 words
  • Page 5 Advertisements
    • 89 5 Every business is unique. Shouldn't financing solutions be too? I P TS 1 r No Fuss. Just Good Business. Understanding that no two companies are quite alike is key to providing the right financing plan to meet unique business needs. More and more businesses across the region are talking to
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    • 74 5 THE WORLD’S FINEST SERVICED VIRTUAL OFFICES Variety of offices to cater to your every need Prestigious address, dedicated receptionist secretarial support, 5 star meeting rooms boardrooms Experience world leading IT and communications technology Take advantage of flexible lease terms from 1 month iW rfi) M* rtVxet Company Registration Services Available
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  • SINGAPORE MARKETS
    • 508 6  -  ST Index surges 26.8 points, but analysts expect volatility in the week ahead STOCKS KENNETH LIM kenlim@sph.com.sg Correspondent SINGAPORE equities rode on positive China economic data and less imminent US intervention in Syria to a strong finish yesterday, but observers warned of weak legs in
      Source: Bloomberg  -  508 words
    • 73 6 Sep 2 VALUE CLOSE BT OB/OS -736.00 +246.00 BT CADI -*****.00 +124.00 BT 10-day MA -*****.00 -73.00 FTSE ST Mid Cap 740.45 +6.19 FTSE ST Small Cap 535.50 +10.97 FTSE ST All Share 750.72 +7.11 FTSE ST China Top 191.79 +4.65 FTSE ST China 222.13 +2.00 FTSE
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    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 10 4 1 0 0 0 10 4 1 Manufacturing 62 37 33 12 7 7 74 44 40 Commerce 22 13 20 9 2 2 31 15 22 Tpt/Stor/Comms 15 15 8
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    • 970 6  -  Compiled by CAI HAOXIANG Real Estate Investment Trusts Maybank Kim Eng Research, Sept 2 SINGAPORE real estate investment trusts (S-Reits) are currently trading at FY2013 forecast yields of 6.6 per cent, above its historical average of 6.3 per cent. While yields appear attractive, we think it is still
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    • 121 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 85,352 85,352 49,863 49,863 Manufacturing 493,610 90,593 584,203 346,016 2,980 348,996 Commerce 236,365 637,729 874,094 73,059 42,561 115,620 Tpt/Stor/Comms 75,196 17,116 92,312 98,620 7,265 105,885 Finance 47,568 890 48,458 133,438 338 133,775 Construction 107,644 107,049
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    • 111 6 Stock name Close Change CapMallsAsia 1.785 -0.010 CapitaLand 3.040 -0.010 CapitaMall 1.880 +0.020 CityDev 10.04 +0.070 ComfortDelGro 1.830 -0.015 DBS Grp 16.18 +0.380 GLP 2.750 +0.050 Genting SP 1.335 +0.020 Golden Agri 0.560 HK Land 6.440 -0.020 HPH Trust US$ 0.735 -0.005 JMH 53.00 -0.120 JSH
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    • 485 6 CURRENCIES Bloomberg [LONDON] The yen yesterday fell to the lowest level in a month against the US dollar as Japan’s Prime Minister Shinzo Abe won backing for a salestax increase, signalling that he is making progress on policies that have helped to weaken
      Bloomberg; PHOTO: REUTERS  -  485 words
    • 51 6 VOLUME HanKore 564,257,000 SingHaiyi 414,440,000 Albedo 345,468,000 Armarda 301,123,000 Oakwell Engg 223,120,000 ChinaMinzhong 174,342,000 Oceanus 111,843,000 Rowsley 93,400,000 CCM Grp 76,567,000 Acma Ltd 57,745,000 VALUE($) ChinaMinzhong 196,009,030 DBS Grp 63,026,415 SingTel 51,532,485 Rowsley 45,926,815 UOB 34,883,430 HanKore 31,344,489 CapitaLand 30,313,810 GLP 28,782,720 LionGold 26,394,640 OCBC Bk 21,386,130
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    • 108 6 BY CENTS CLOSE UP DBXT Nifty 10US$ 8515 286.6 2.7 IS S&P500 ***** 143.9 0.7 Jardine C&C 3422 105.0 3.2 DBXT AUD Bonds 5AU$ ***** 84.6 0.4 DBXT FTVietnam 10US$ 2185 59.9 2.2 JSH 3292 59.9 1.4 ChinaMinzhong 112.5 59.5 112.3 DBXT MSINDIA 10US$ 710 54.8 6.4 UOB 2030
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    • 125 6 BY CENTS CLOSE DOWN Lyxor ThaiSET 10US$ ***** -927.2 -5.9 DBXT E50 10US$ 4412 -63.7 -1.1 GLD 10US$ ***** -35.7 -0.2 DBXT MSINDO 10us$ 1151 -30.6 -2.0 DBXT iBoxxIDR 10US$ 995 -25.5 -2.0 SIA 200 950 -23.0 -2.4 IS LC BND 100US$ 933 -19.1 -1.6 DairyFarm 1006 -17.8 -1.4
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    • 5 6 DAILY
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  • BUSINESS Superbrands FEATURE
    • 354 7 Brought to you by Superbrands Superbrands is the world's largest brand promotional platform operating in more than 80 countries around the world. Launched in Singapore in 2009, the Business Superbrands Programme identifies and pays tribute to the leading B2B brands. It is actively
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    • Article, Illustration
      608 7 NatSteel is leading the way in construction innovation and efficiency. In today's volatile economic climate, successful companies are doing a lot more than offering the marketplace a great product and that even applies to brands with a rich 50 year heritage in Singapore, like NatSteel. Influenced by
      608 words
    • 616 7 Singapore brand, Ascott, offers the utmost in service when you travel. The Ascott Limited has risen to become the world's largest international owneroperator of serviced residences, by offering comfortable homes to expatriates and travellers. With the opening of The Ascott Singapore in 1984, it pioneered Asia
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    • 618 7 Seraya's Effective Power Generation Solutions and Responsible Consumption Practices Offer Better Business Value. In a highly competitive energy market, maintaining top-spot reguires diligence, consistency and flexibility. It means embracing advancements in technology, being responsive to customer demands, and offering innovative solutions. It also means positioning the company
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    • 600 7 At the heart of Singapore's IT consumer electronics retail industry, Newstead is an authentic entrepreneurial success story. What began as a single 300 square foot store, with three staff and a modest display of PCs and laptops in 1999, has grown to become a dominant IT
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  • Page 8 Advertisements
    • 116 8 il RESTAURANT BAR UNVEILING PARADISE GROUP MOST GLAMOUROUS DINING CONCEPT LE MODERN CHINESE RESTAURANT sacM OVER 200 LABELS OF WINE Lx f? S'), vUf-\ t Ta: m m i T. m TRADITIONAL DIM SUM Ta m m. r ■o r ~wOPENING SPECIAL 30% off dining bill TERMS CONDITIONS Valid only
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  • Page 9 Advertisements
    • 163 9 J2/ t ■%>;c I —hSSJ^ •iVUJi"—^SSSi.. Mi Nanjing Nanzhan Store Quanzhou Anxi Store Xiamen Wucun Store Quanzhou Tumen Store r f M S.;s:S HSfifl —3»Mr as '9g«4Sl Ouanzhou Hui'an Store pp iwwfnL j Xiamen Jiahe Store Quanzho^Quamd^Store Zhanqzhou Lonqwen Store rr **m '7* i ;iil IP! N ■si iSS !te
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  • SINGAPORE NEWS
    • 565 10  -  Seller, a vehicle controlled by Loh Lik Peng, is leasing back the freehold property By KALPANA RASHIWALA kalpana@sph.com.sg HOTEL 1929 on Keong Saik Road has been sold for $35 million. The price works out to around $1.09 million per room for the freehold hotel. The
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    • 229 10  -  By MINDY TAN mindytan@sph.com.sg SINGAPORE companies clinched eight out of 21 Asean Business Awards (ABAs) this year in a field of 68 competing companies. The winners, comprising large businesses, small and medium-sized enterprises (SMEs) and young entrepreneurs, include Batamindo Shipping
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    • 956 10  -  The school, ranked fourth most-preferred PEI last year, believes Smart Classroom technology will enable it to expand into the region BY By CHUA XI LEI, ELSON LIM CHIN CHUEN and TIMOTHY LIEW ZHI HAI The writers are students ofNUS Business School IN 2001, Andrew Chua
      PHOTO: JOSEPH NAIR  -  956 words
  • Page 10 Advertisements
    • 234 10 Visit www.fb.com/comexITshow THE BIGGEST I.T, MOBILE, CONSUMER ELECTRONICS EXHIBITION IN SINGAPORE 5 8 SEPT (THURSDAY TO SUNDAY) SINGAPORE EXPO HALLS 5 6 12 NOON 9 PM DAILY FREE ADMISSION S$20,000 CASH in online Lucky Draw (FOR EVERY S$100 spent, you get 1 chance to win) Here ‘s how you can
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  • SME Inc
    • 1194 11  -  Profits from Ee Poh Luan’s social enterprise are used to give free meals to needy families, says JASLENE PANG JASLENE PANG SOME may find it surprising that Ee Poh Luan would quit a high-paying job to drive a truck, but Ms Ee has
      PHOTO: YEN MENG JIIN  -  1,194 words
    • 924 11  -  THE VIEW FROM NTU PROFESSORS By LEONG KAIWEN SINCE independence in 1965, Singapore has encountered various challenges while building its economy. One of them was transforming Singapore from relying on entrepot trade to an export economy. To facilitate ex-port-oriented industrialisation, Singapore aggressively courted
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  • Page 11 Advertisements
    • 177 11 HAVE an interesting story on an SME to share? Drop us a note on why you think the company should be featured in our weekly SME Inc pages, with details such as how the company has grown and its expansion plans. Send your e-mail to Felda Chay at feldac@sph.com.sg with
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  • EMERGING ENTERPRISE 2013
    • 529 12 / 13  -  By JASMINE NG jasng@sph.com.sg BEJEWELLED ladies and black-tied leaders of the corporate world received their Emerging Enterprise awards to the sounds of whistles and applause from the floor. Held at The Grand Ballroom of the Ritz Carlton Hotel, the gala dinner for this year’s event was attended by
      PHOTOS BY ARTHUR LEE AND CHOY ZHONG XIONG  -  529 words
  • Page 12 / 13 Advertisements
    • 84 12 / 13 CONGRATULATIONS ™™W1ilB3itfrWyinnfMaithe ASR Building Conservation Pte Ltd Biomax Technologies Pte Ltd E-Tag RFID Pte Ltd Eighteen Chefs Pte Ltd G-Energy Global Pte Ltd Green Koncepts Pte Ltd Infracomms Pte Ltd Metropolitan Fishery Group Pte Ltd Mobile Workforce Solution Pte Ltd Oriental Tanks Pte Ltd ROS Engineering Pte Ltd Smartec Private
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  • MALAYSIA/INDONESIA
    • 777 14 July’s larger than expected US$2.31 b deficit due to rise in oil imports Reuters [JAKARTA] Indonesia’s trade deficit widened to a record in July, showing the difficult road policymakers face in shrinking a big current account gap, which has battered the currency and
      Reuters  -  777 words
    • 675 14 [KUALA LUMPUR] Hong Leong Capital Bhd is Malaysia’s top performing stock for the first eight months of the year, thanks to Yu Kuan Chon, the chairman of YNH Property Bhd. Hong Leong Capital has gone up by 388.73 per cent so
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    • 200 14 [KUALA LUMPUR] CIMB Group leads its first major Taiwan deal, acting as joint bookrunner for the US$400 million convertible bond issued by Advanced Semiconductor Engineering (ASE). ASE is the world’s largest independent provider of semiconductor packaging and test services. With a market
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  • Page 14 Advertisements
    • 54 14 GREAT MUSIC. GREAT FUN. TRUE CLASS. N WI SINGAPORE’S FASTEST GROWING MORNING SHCW VJ rv/ FM klSS92 All the great songs m one place f f w r r r j r f in IN THE MORNING WEEKDAYS 6-10AM facebook.com/kiss92fm www.kiss92.sg Download the KISS92 mobile app now! KISS92 is part
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  • Page 15 Advertisements
    • 4235 15 MANDATORY CONDITIONAL CASH OFFER by UOB KAY HIAN PRIVATE LIMITED (Company Registration No.: *****0447W) (Incorporated in the Republic of Singapore) for and on behalf of PT INDOFOOD SUKSES MAKMUR TBK (Incorporated in Indonesia) to acquire all the issued and paid-up ordinary shares in the capital of CHINA MINZHONG FOOD CORPORATION
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  • <COBTMASTC100M15K5>GREATER CHINA/INDIA
    • 678 16  -  Both are at 4-year lows but some analysts expect a swift turnaround By NEETA LAL in New Delhi INDIA, Asia’s third largest economy, has been dealt a double whammy on the economic front its gross domestic product (GDP) growth and purchasing managers’
      PHOTO: REUTERS  -  678 words
    • 393 16 AFP [NEW DELHI] India’s government denied yesterday that it was considering shutting filling stations at night to reduce oil imports, a widely ridiculed measure reportedly under discussion to tackle a deepening economic crisis. Oil Minister Veerappa Moily sparked the speculation on
      AFP  -  393 words
    • 272 16 AFP [BEIJING] The inquiry into the highest ranking Chinese official to be investigated for graft in a current crackdown will focus on an oil firm he once headed, state-run media said yesterday. Jiang Jiemin worked for decades in China’s petroleum industry,
      AFP  -  272 words
  • Page 16 Advertisements
    • 73 16 STCARS .SG Your One-Stop Portal for Cars and Accessories m Latest car reviews motoring news !Wide collection of accessories Information guide for motoring services o v' 1 f w SL Extensive selection of used rental cars Good o variety of commercial vehicles Comprehensive collection of new cars Find more than
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  • ECONOMY WATCH
    • 432 17 Recovery seen taking hold as conditions improved across all major economies Reuters [LONDON] Strong orders for manufactured goods helped eurozone factory activity rise at the fastest pace in over two years in August and led to backlogs of work for the
      Reuters  -  432 words
    • 366 17 New orders, output rise at fastest pace in nearly 20 years Reuters LONDON] British manufacturing accelerated again last month and new orders and output rose at their fastest pace in nearly 20 years, boosting hopes that the country’s recovery is broadening, a survey
      Reuters  -  366 words
    • 434 17 Bloomberg [SYDNEY] The Reserve Bank of Australia will cut interest rates within 100 days of the Sept 7 election, credit markets show, a boost for whoever wins office. Traders are pricing in a 57 per cent chance that governor
      Bloomberg; PHOTO: REUTERS  -  434 words
  • Page 17 Advertisements
    • 106 17 The SME Magazine coming to you with your copy of The Business Times tomorrow! IN THIS ISSUE WORKING TOGETHER: How mall tenants and landlords can increase sales from innovative marketing and technology PROTECTING YOUR BIGGEST ASSET: Why human capital must be a major consideration in risk management considerations STRATA STREAM:
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    • 124 17 o -■I Hello Killy mi\i &gt;■ i\e9^U Hello Kitty A is coming to town!!! a HELLO HIT HELLO KITTY Are you looking for an investment with high profitability* in return per annum? We are the sole and exclusive distributor of Sanrio's Hello Kitty Tiles in Singapore, and we are looking
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  • WORLD
    • 559 18 Tougher rules will be phased-in over four years from December 2015 Bloomberg [BRUSSELS] Banks must back trades in the US$633 trillion market for swaps and other over-the-counter derivatives with additional collateral as global regulators seek to choke off opportunities for
      Bloomberg  -  559 words
    • 647 18 NYT [VENICE BEACH, California] Carmakers trying to reach young buyers face a conundrum: how do they sell a car to people who stay away from a showroom? “They won’t come into the stores to educate themselves,” said Peter Chung, general manager of Magic Toyota
      NYT; PHOTO: JONATHAN ALCORN/THE NEW YORK TIMES  -  647 words
    • 178 18 Bloomberg [HONG KONG] Rakuten, controlled by billionaire Hiroshi Mikitani, said it has agreed to buy streaming video service provider Viki as the Japanese Internet retailer seeks to expand into new digital offerings. The companies see opportunities for Viki to boost revenue by selling more
      Bloomberg  -  178 words
    • 503 18 Bloomberg [BERLIN] German election challenger Peer Steinbrueck probably failed to close Chancellor Angela Merkel’s lead in the polls during the campaign’s only debate, as they sparred over the economy and the euro-region debt crisis. Mr Steinbrueck sought to score points against the
      Bloomberg; PHOTO: REUTERS  -  503 words
    • 769 19  -  Fears about losing out on 2020 Olympics may have led to Abe’s move By ANTHONY ROWLEY in Tokyo JAPANESE Prime Minister Shinzo Abe finally took a more decisive leadership stance yesterday on the ongoing Fukushima nuclear crisis by committing his government
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    • 420 19 Reuters [BANGKOK] A prolonged protest by rubber farmers in Thailand’s southern Nakhon Si Thammarat province has disrupted distribution systems and delayed thousands of tonnes of prompt Thai rubber shipments for up to two weeks, exporters said yesterday. Thailand is the world’s biggest rubber
      Reuters; PHOTO: AP  -  420 words
    • 262 19 Bloomberg [LONDON] Naked Wines UK, which has invested more than £25 million (S$49.6 million) in independent winemakers since 2008, is planning to raise £3 million by issuing what it calls the Naked Fine Wine Bond. Investors can buy £500 to £10,000 of
      Bloomberg  -  262 words
    • 461 19 But progress stalled by difficulty in sorting out details Reuters [MOSCOW] The BRICS bloc of large, emerging economies has agreed on the structure of a proposed development bank with US$50 billion in capital, but ironing out “difficult” details may take months, Russian
      Reuters  -  461 words
  • Page 18 Advertisements
    • 475 18 WAT3 NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices noble group NOBLE GROUP LIMITED (Incorporated in Bermuda with limited liability) NOTICE OF SPECIAL GENERAL MEETING NOTICE IS HEREBY GIVEN that a SPECIAL GENERAL MEETING of the Company will be held at 17th Floor, MassMutual Tower, 38 Gloucester Road, Hong Kong on
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    • 468 18 VALLIANZ HOLDINGS LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****6945E) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (the “EGM”) of VALLIANZ HOLDINGS LIMITED (the “Company”) will be held at 12 International Business Park, #03-02 Swiber@IBP, Singapore *****0 on 18 September
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    • 531 18 NOTICE IS HEREBY GIVEN that at an Extraordinary General Meeting of MIMS PTE. LTD. (FORMERLY KNOWN AS UBM MEDICA ASIA PTE. LTD.) (the “Company”) duly convened and held at 5 Shenton Way #15-08 Singapore *****9 on 29 August 2013 at 10.00 a.m., the following special resolutions, inter alia, were passed:
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  • Page 19 Advertisements
    • 1561 19 WATS NOTICES flnnfliK ANNAIK LIMITED I IMITPH Co Re 9- No. *****2066M) L. 11VII I L-L/ (Incorporated in Singapore with limited liability) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Shareholders of ANNAIK LIMITED will be held on 18 September 2013 at
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  • AVIATION/SHIPPING
    • 355 20  -  Assets are up at US$9.9b; firm has 223 aircraft used by more than 50 airlines globally By NISHA RAMCHANDANI nishar@sph.com.sg [SINGAPORE] Aircraft-leasing company BOC Aviation registered an unaudited post-tax net profit of US$163 million for the six months ended June 30, 2013,
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    • 796 20 Bloomberg [BEIRUT] At the Port of Beirut, three trucks hauling yel-low-and-orange containers wait for cranes to load their cargo onto a Liberianflagged ship recently arrived from the Saudi port of Jeddah and headed for Greece. About 2,200 such vehicles enter the
      Bloomberg; PHOTO: AFP  -  796 words
    • 459 20 Delivery of aircraft has been postponed by more than a year Bloomberg [TOKYO] Mitsubishi Heavy Industries Ltd’s aircraft unit, building Japan’s first passenger jet, will set up a quality assurance centre in Europe after pushing back the delivery of the aircraft by
      Bloomberg  -  459 words
    • 367 20 Deal makes it one of the world’s top 20 container operators Reuters [MOSCOW] London-listed Russian ports operator Global Ports has bought domestic rival National Container Company (NCC) in a deal worth almost US$1.6 billion, becoming one of the world’s top 20 container operators.
      Reuters  -  367 words
    • 279 20 Bloomberg [DUBAI] Etihad Airways, the Abu Dhabi-based carrier purchasing a 24 per cent stake in Jet Airways (India) Ltd, said it expects the US$600 million investment to be approved by Indian authorities “imminently”. The deadline for the regulatory approval of the
      Bloomberg  -  279 words
  • Page 20 Advertisements
    • 28 20 3*^ LIANHE ZAOBAO President of Huawei; Network instability the biggest issue 'e« m 1 tiSSfc nwTHsjw I* 51 William Xu To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • Page 20 Miscellaneous
    • 326 20 CRYPTIC CROSSWORD Across 1 Man in church, intoxicated, quietly making a mess of rites (4,6) 6 Lively horse loses right plate (4) 9 State of a house on the borders of Ireland (5) 10 Morally justified in reforming this rogue? (9) 12 Gain upper hand, seeing article covered by Spinners
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  • Page 21 Advertisements
    • 321 21 THE STRAITS TIMES WHEREVER YOU ARE (5r F r 4 r c 1 I 4 r _k rx r STAY INFORMED ON WHAT MATTERS MOST GRAB THESE FABULOUS GIFTS when you Subscribe to The Straits Times. Select o Plan and pick your gift! 3-Year Rian 3-Yeor Plan is exclusive to
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  • EDITORIAL & OPINION
    • 925 22  -  The worst possible outcome will be to pick someone who shares Greenspan’s inclinations By SIMON JOHNSON The writer is a professor at MIT’s Sloan School of Management and the co-author of ‘White House Burning: The Founding Fathers, Our National Debt, And Why It
      Project Syndicate; PHOTO: AFP  -  925 words
    • 844 22  -  THE BOTTOM LINE PAUL KRUGMAN The writer is professor of economics and international affairs at Princeton University, and winner of the Nobel Prize in economics in 2008 NYT IT WASN’T always about the hot dogs. Originally, believe it or not, America’s
      NYT  -  844 words
    • 497 22 EDITORIAL THE issue of soaring prices of car ownership has become as much a social and political “hot-potato” as housing and medical costs. With COE prices scaling new highs almost every fortnight, a simple 1,600 cc Korean car today can cost as much as
      497 words
    • 1117 23  -  Political reasons, not economic imperatives, underlie some huge missteps taken by managers of the troubled economy By SHAHID JAVED BURKI The writer, a former Pakistani finance minister and World Bank vice-president, is visiting senior research fellow at the Institute of South Asian Studies, an autonomous
      PHOTO: REUTERS  -  1,117 words
    • 789 23  -  WILLIAM PESEK The writer is a Bloomberg View columnist Bloomberg JULIA Gillard was a rotten Australian prime minister. Clueless, mercurial, distracted, vindictive, tin political ear: Man, did she stink. So went the conventional wisdom that helped drive the nation’s first female leader
      Bloomberg; PHOTO: AFP  -  789 words


  • 1269 24 Papua New Guinea Australia New Zealand New Caledonia Fiji all other Pacific Islands Dili (East Timor) Guam (Mariana Islands) Honolulu (Hawaii) SOUTH PACIFIC SERVICE W W W. N G P L J S P. C O M THE CHINA NAVIGATION CO. PTE. LTD. 300 BEACH ROAD #02-02 THE
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  • Page 24 Advertisements
    • 34 24 PLACE YOUR AD HERE THE BUSINESS TIMES Shipping times CALL JOE WONG AT 9620 1327 SI ll-l FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? II
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  • SINGAPORE STOCKS
    • 2322 25 Transaction date: Sep 2 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company Last Sale Vol Day Last Q ('000) High Low Buyer S 188 106 AIMSAMPIReit 144 -0.5 380 144.5 143.5
      2,322 words
    • 231 26 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 Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale (‘000) High Low Buyer Seller C'vr P/E Smil 755
      231 words
    • 11365 26 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Asset Mat Pte Ltd APS Alpha FundCI A!** Aberdeen Asset Mgt Asia Limited APS Alpha Fund (USD)!** Asian Local Ccy SD Bond 1.1/ EM Local Ccy Bond .0 9917/ Asian Smaller Cos!' 1.8425/ EM local Ccy Bond 0899/ European
      11,365 words
    • 258 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 58 27 AVJennings A53 -5 4 53 53 53 58.5 3.6 6.6 4.3 196.2 52 31 Genting HK US$ US40.5 unch 894 41 40 40 40.5 2666.7
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    • 924 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 126 107.1 ABF SG Bond ETF 114 23 114 111 112 114 520.4 143 120.4 CIMB APAC Div 100S$D 129.1 130.6 131.5 114.4 99 CIMB APAC
      924 words
  • Page 25 Advertisements
    • 127 25 WELCOME TO MY WORLD A BREITLING A t.. ’M s A r} M MHk M v V\W. P: V’WX ,m. ij TEL. +65 6732 6347 BREIT1.ING.COM S I H~' tTi*- Y' BREITLING INSTRUMENTS FOR PROFESSIONALS™ John Travolta is not only an exceptional pilot with over 7,000 flight hours behind him
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  • FINANCE & COMMODITIES
    • 596 27 Sep 2 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.07 *****.48 *****.53 Sep13 *****.00 *****.00 *****.00 *****.00 *****4 *****2 Dec13 *****.00 *****.00 *****.00 *****.00 2043 ***** MSCI TAIWAN INDEX FUTURES SPOT 283.33 284.92 282.20 Sep13 281.90 284.50 280.00 284.50 ***** *****6 Oct13 281.00
      596 words
    • 373 27 In local curr In S$ In US$ dy yr dy yr dy yr Aug 30 Index Change Change Change Change Change Change World Preliminary 1059.2 -0.5 12.9 -0.4 15.0 -0.5 10.1 EAFE Preliminary 864.6 -0.8 11.6 -0.7 10.6 -0.8 5.8 Europe Preliminary 1238.9 -1.0 8.0
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    • 471 27 Sep 2 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.947 5.495 0.680 6.963 59.450 98.578 0.892 9.878 2.941 1.149 93.832 39.889 1.144 9.161 0.838 26.836 28.821 0.578 0.898 Canada 1.056 5.804
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    • 53 27 Sep 2 (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$) 1 mth 1 mth 2 mths 2 mths 0.***** 9 mths 6 mths 12 mths 9 mths
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    • 89 27 Sep 2 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 19-Sep-13 0.24 6-Month BS*****E 07-Mar-14 0.28 1-Year BY*****H 02-May-14 0.28 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-15 99.99 5-Year N*****0T 0.5 01-Apr-18 97.19
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    • 137 27 Sep 2 GOLD(US$/oz) Sep 02 Aug 30 Hong Kong 1401.00 1397.00 Aug 30 Aug 29 London 1397.18 1406.70 1398.08 1407.58 Source: Thomson Reuters CAST BAR Sep 02 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 128 57 5gm 364 285 10gm 650 569
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    • 57 27 Sep 2 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 13 2420.0 2430.0 2420.0 2420.0 34 1707 Oct 13 2420.0 2430.0 2437.0 2416.0 2112 ***** Nov 13 2423.0 2428.0 2440.0 2411.0 ***** ***** Dec 13 2425.0 2428.0
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    • 156 27 Sep 2 Sep Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1436 1.1439 0.8979 0.8981 Canadian dollar 1.2079 1.2084 0.9488 0.9484 Euro 1.6823 1.6828 1.3209 1.3212 NZ dollar 0.9951 0.9958 0.7813 0.7818 Sterling pound 1.9799 1.9805 1.5546
      156 words
    • 121 27 As at 9am Sep 02 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.166 1.111 Can dollar 1.232 1.185 Euro 1.722 1.640 Sterling pound 2.014 1.937 NZ dollar 1.012 0.974 US dollar 1.302 1.240 Local dollars to 100 units of foreign
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    • 154 27 Sep 2 $S Offer Bid 0vernight 0.02 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.05 US$ 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 0.50 0.30 9 months 0.60 0.40 12
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    • 1068 27 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 Conv Asia-Pacific Strategic W*****6 0.1 1 123 1331 86.00 8 Acma Ltd W*****7 Price Prem Disc Ascendas REIT.ES.1309 Expiry Ascendas Reit MB ECW*****3 3.2 0.2 240 6 Asiatravel.com
      1,068 words
    • 109 27 Aug 30 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Sep 13 1424.00 1430.00 1434.50 1414.25 Nov 13 1357.50 1368.50 1370.50 1346.00 Jan 14 1354.75 1364.75 1366.50 1343.50 Mar 14 1334.25 1338.75 1339.75 1319.00 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Sep 13
      109 words
    • 95 27 Aug 30 COCOA (£/tonne) Close Prev High Low Sep 13 1639 1648 1646 1612 Dec 13 1634 1647 1647 1611 Mar 14 1620 1632 1631 1599 May 14 1622 1635 1634 1601 COFFEE(US$/tonne) Close Prev High Low Sep 13 1749 1730 1750 1717 Nov 13 1779 1764 1787 1752
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    • 70 27 CRUDE OIL PRODUCTS Aug 30 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 114.95 -1.12 WTI (Near Mth) 107.70 -0.51 Dubai (1-Mth F) 109.88 -0.82 Tapis blend 122.63 -0.78 Minas 114.23 -0.78 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 104.61 -1.14 Jet Kerosene 127.92 -0.51 US$/barrel OpecOil Basket
      70 words
    • 22 27 Sep 2 S$ Bid Offer 1-month 1.2735 1.2737 2-months 1.2735 1.2736 3-months 1.2734 1.2735 6-months 1.2731 1.2732 Source: OCBC
      22 words
    • 66 27 Aug-30 Aug-30 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1766.00 1787.25 3 months 1813.50 1835.00 Copper, Grade A(US$/tonne) Cash 7077.50 7129.75 3 months 7100.00 7153.00 Lead(US$/tonne) Cash 2145.50 2186.75 3 months 2152.00 2194.50 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
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  • PROPERTY
    • 541 28 Country to seek stable and healthy development of the real estate market Bloomberg [SHANGHAI] China’s new home prices jumped in August by the most since December amid a recovery in land sales and some easing of policies by local governments, SouFun
      – Bloomberg; PHOTO: REUTERS  -  541 words
    • 423 28 Zhengzhou’s house price rise among country’s highest Reuters [BEIJING] A Chinese city has toughened rules on house buying as it wrestles with one of the country’s highest rates of house price inflation, in a sign that authorities may be injecting more urgency into a
      Reuters  -  423 words
    • 1232 29 Mall developers find a sweet spot in the nascent consumer market of S Africa Reu ters [JOHANNESBURG] When Wal-Mart Stores, the world’s top retailer, bought control of major South African discount chain Massmart Holdings in 2011, American shopping mall developer Irwin
      Reuters; PHOTO: BLOOMBERG  -  1,232 words
    • 179 30 Reuters [DUBAI] Dubai contractor Drake and Scull International has won a 415 million dirham (S$144 million) contract from the main developers assigned to build a branch of France’s Louvre museum in Abu Dhabi, Drake said in a statement here yesterday. Drake
      Reuters  -  179 words
    • 364 30  -  Singapore notches up fifth place on China’s global real estate shopping list By JACQUELYN CHEOK jaccheok@sph.com.sg SINGAPORE is China’s fifth-largest overseas destination for real estate investment using Chinese insurance funds, from *****013. According to the latest research by global property ad- visor CBRE,
      364 words
    • 412 30 Bloomberg [LONDON] UK house-price growth accelerated last month amid the strongest market conditions for six years as demand continued to outpace the number of homes for sale, Hometrack Ltd said. Average values in England and Wales rose 0.4 per cent after a 0.3 per cent
      Bloomberg  -  412 words
  • Page 28 Advertisements
    • 106 28 ■1 r: Looking for a new office for your business? You’re looking at the right ad HOI I wS k W m 8 S' Search for your ideal office from over 5,000 commercial and industrial properties. Discover Top 10 Popular Projects every week 13 “Sort by psf” feature helps you
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    • 82 28 UNIQUE OPPORTUNITYBESPOKE BOUTIQUE HOTEL FOR OVERSEAS INVESTORS An outstanding heritage hotel with a one-of-a-kind facade. Building dating from 1920's. Fully equipped/Designer Decor Conservation/Upmarket/near 3 MRTs/ Zoned for Hotel Use/Fully Commercial Foreigners Can Buy! No additional Stamp Duty No Capital GainsTax on resale Call 6222 5055 for details. Exclusive Marketing Agent
      82 words

  • Page 29 Advertisements
    • 84 29 Grow Your Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices WAT3 NOTICES Good Class Bungalow for Sale by Tender East Sussex Lane Land Area approx 15,100 sq ft Built Up approx 11,500 sq ft 21/2storey, 6 ensuite rooms 27 meters lap pool 3 covered
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    • 159 29 -I* rS 1 Contact: Investment Properties Sammi Lim &lt;cea Reg no.: Rooasggj) Tel: 9368 9803 6 Battery Road #32-01 Singapore *****9 112,113,114,115 116 AMOY STREET 5 Adjoining Prime Refurbished Shophouses With Lifts Site Area: Approx. 11,759 sq ft Gross Floor Area: Approx. 27,000 sq ft Strategically located within CBD Next
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    • 219 29 PRIME CITY FRINGE STANDALONE RESIDENTIAL BLOCK Hi; 1,1 IliiP* Investment Properties 6224 8181 GalvenTan Loke Wei Yolk (CEA Roq No: R*****1F) (CCA Reg No: ROSO-ISOJ) 9799 4898 9147 5201 Sale by Expression of Interest Site area approximately 911 sqm 9,806 sqft GFA approximately 2,797 sqm 30,108 sqft 99 year lease
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  • Page 30 Advertisements
    • 391 30 EXCLUSIVE FIRST LAUNCH IN ASIA LEXICON EC1 RARE LONDON WATERFRONT INVESTMENT EXHIBITION SAT 7 SUN 8 SEPT 1100 1900 5/F MALAYSIA ROOM HILTON HOTEL SINGAPORE 581 ORCHARD ROAD, SINGAPORE *****3 V. r. UNIQUE PROFILE Phase 1 launching with 54 spacious 1/2/3-bedroom waterview apartments Dual aspect layout and balcony in most
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    • 32 30 m T SMAPORES HOT hottest I Wm ms LIGHTNING STRIKES CATCH THE ALL NEW NISSAN HOT FM91.3 THUNDER TRUCK TUNE IN TO HOT FM91.3 FOR MORE INFO WWW.HOTFM.SG I FACEBOOK.COM/HOTFMSG 3* HOTFMSG
      32 words