The Business Times, 8 October 2013

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Total Pages: 30
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, October 8, 2013
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  • 960 1  -  SGX curbs on short-selling, contra trading also dent other small counters By JASMINE NG jasng@sph.com.sg [SINGAPORE] Chaos and panic rippled through the market early yesterday morning as suspended counters Asiasons Capital, Blumont Group and LionGold Corp resumed trading, racking up large falls and
    Source: Bloomberg  -  960 words
  • 646 1  -  Capital inflows are projected to fall by US$153b this year By ANTHONY ROWLEY in Washington EMERGING economies in Asia and elsewhere may have seen their best days in terms of attracting foreign investment and though recent outflows should not trigger
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  • MARKETS DIGEST
    • 65 1 HST INDEX 3,136.59 (-1.49) HST INDEX FUTURES 3,136.00 (-2.00) HSIMSCI 359.21 (-0.26) HSIMSCI FUTURES 358.90 (-0.10) US$ S$ US$ (S$ per US$) 1.249 (US$/S$ per 1.605 2.004 EURO (US$/S$/€ 1.358 1.696 Foreign currency per US$ S$ YEN 96.90 77.60 RM 3.189 2.554 HK$ 7.754 6.210 BAHT 31.38 25.13 RUPIAH
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    • 47 1 Monday Change KL COMP 1,776.82 +0.26 NIKKEI 225 13,853.32 -170.99 HANG SENG 22,973.95 -164.59 SET INDEX 1,414.62 -13.10 JAKARTA COMP 4,374.96 -14.39 MANILA COMP 6,443.21 +52.73 SEOUL COMP 1,994.42 -2.56 SHENZHEN B Closed MUMBAI IND 19,895.10 -20.85 12noon EDT Change DOW 15,006.74 -65.84 NASDAQ 3,788.03 -19.73
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    • 20 1 SINGAPORE 5.38 MALAYSIA INDONESIA HONG KONG 5.00 JAPAN 14.584 TAIWAN BRITAIN JAPAN 1.475 KOREA 9.33 BRITAIN Source: Bloomberg
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  • Page 1 Advertisements
    • 222 1 APEC SUMMIT Apec’s resolve a strong signal of free trade commitment: PM Lee PAGE 4 HOCK LOCK SIEW Has SGX acted too late? PAGE 6 GLOBAL PENSION INDEX S’pore jumps six places in rankings PAGE 2 PROPERTY Seletar Mall clinches 3 anchor tenants PAGE 29 Inc The start-up behind start-ups
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  • TOP STORIES
    • 195 2 Chaos hits Singapore market CHAOS and panic ran through the market early yesterday morning after suspended counters Blumont Group, Asiasons Capital and LionGold Corp resumed trading with large falls, with the contagion spreading to other small stocks. FRONT PAGE Tougher to attract foreign funds EMERGING economies may have
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    • 686 2  -  CPF system rated well in integrity and sustainability; less so in adequacy By CHUANG PECK MING peckming@sph.com.sg [SINGAPORE] The Republic has moved up sharply in the latest Melbourne Mercer Global Pension Index rankings, placing its Central Provident Fund (CPF) among the top
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    • 427 2  -  By ANGELA TAN angelat@sph.com.sg [SINGAPORE] Blumont Group has appointed Alexander Molyneux as its chairman designate with effect from yesterday. The move came after Mr Molyneux, in cooperation with Pacific Advisers, agreed to buy 135 million Blumont shares, representing about 5.2 per cent of
      427 words
    • APEC SUMMIT
      • 578 4  -  Apec has a ‘shared responsibility’ to enhance multilateral trading system Reports by LEE U-WEN in Bali leeuwen@sph.com.sg THE fact that the Asia-Pacif-ic Economic Cooperation (Apec) forum sticks to its goals and commitments will send a “powerful signal” to the international
        PHOTO: KUA CHEE SIONG/THE STRAITS TIMES  -  578 words
      • 647 4 He will chair FTA meeting with leaders of S’pore and 10 other nations WITH US President Barack Obama stranded at home over a budget stalemate with the Republicans, the man in the hot seat for today’s Trans-Pacific Partnership (TPP) talks is
        PHOTO: REUTERS  -  647 words
      • 414 4 They also appeal for more infrastructure investment BUSINESS leaders from Singapore and the rest of the Pacific Rim urged their governments yesterday to strengthen financial markets to contribute to the inclusive growth of the region. Against the backdrop of an uncertain global economy, they
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    • 895 4  -  World Bank lowers growth forecast for developing E Asia By ANTHONY ROWLEY in Washington DELAY by the US Federal Reserve in tapering quantitative easing (QE) has given East Asia a reprieve to prepare for the eventual withdrawal of monetary stimulus,
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  • Page 2 Advertisements
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    • 242 2 Learn Business Model Innovation Exponentially. Ignore At Your Ownr Peril And DECLINE Rapidly. I .4 Apple hV Source: Google Finance Extracted from comparison chart o Apple, Blackberry, and Nokia from 1993 to 2013 3000% Black Berry Nokia N r" 4a Richard Mak Professor Rajendra Srivastava Scott D. Anthony Kristine Oustrup
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  • Page 3 Advertisements
    • 215 3 RICHARD MILLE A RACING MACHINE ON THE WRIST Iff,- o *7 I -r s m N v<0 V «*e o JG V Vv ft r o 0? f O ;pv e .v. ss A r 35 o ms 30 WB Si H mu IfSati-e Jiff C."v SS 0 T* 1
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  • COMPANY NEWS
    • 1050 6  -  HOCK LOCK SIEW By ANGELA TAN angelat@sph.com.sg LAST Friday, the Singapore Exchange (SGX) took the drastic step of cleaning up what had been left smelling in its backyard over the years. On Sunday, the local bourse operator allowed trading to resume in three stocks it
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    • 387 6  -  Analysts making the estimate say benefit will accrue gradually By MALMINDERJIT SINGH msingh@sph.com.sg KEPPEL Corporation’s latest foray into Mexico could add US$1.32 billion to its orderbook, analysts say. Its unit Keppel Offshore Marine (O&M) on Friday signed an Memorandum of Understanding with
      387 words
    • 242 6  -  By MALMINDERJIT SINGH msingh@sph.com.sg MAINBOARD-listed oilfield supply and services provider KS Energy is tying up with Mexican conglomerate Empresas ICA to set up a joint venture, which will provide drilling services and heavy capital equipment for Mexico’s offshore oil and gas exploration
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    • 347 10  - Boustead secures $38m in oil gas sector contracts New contracts in FY2014 hit $300m; order book backlog stands at $523m By ONG CHOR HAO ongch@sph.com.sg JUST a week into the second half of its fiscal year ending March next year (FY2014), Boustead Singapore said yesterday that the value of contracts
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    • 285 10  -  By GENEVIEVE CUA gen@sph.com.sg AN Italian independent asset manager has bought into home-grown fund management firm Athenaeum Ltd. Athenaeum was founded by Madeleine Lee in 1999 to advise family offices, endowments, foundations and high net worth individuals. Ms Lee has had some 27 years
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    • 228 10  -  By KELLY TAY kellytay@sph.com.sg CLIMATE Holding, a special purpose vehicle in which its shareholders have a collective 43 per cent control of Devotion Energy Group, is seeking voluntary delisting of the Singapore Exchange (SGX) mainboard company. A joint announcement yesterday said that Climate
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    • 350 10  -  This makes it the best performing IPO so far this year By ANDREA SOH sandrea@sph.com.sg PHOSPHATE miner AsiaPhos’ shares closed 58 per cent above its offer price of 25 cents in its trading debut yesterday, making it the best performing initial public offering
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    • 279 10  -  By KELLY TAY kellytay@sph.com.sg CATALIST-LISTED Albedo yesterday disclosed additional information on its proposed $774.14 million reverse takeover (RTO) deal first announced about two weeks ago. If successful, Albedo will be acquired by Malaysian tycoon Danny Tan, who will transform the steel trader into
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    • 590 11  -  Local incorporation sees transfer of SME, consumer banking biz to subsidiary By SIOW LI SEN lisen@sph.com.sg STANDARD Chartered Bank plans to open additional branches following its local incorporation and the completion of a European Union-Singapore freetrade agreement (FTA). “We expect over time to
      DESMOND WEE/THE STRAITS TIMES  -  590 words
    • 402 11 WP [LONDON] Solvay has agreed to buy US producer Chemlogics for US$1.3 billion in cash to expand its offering of chemicals for the oil and gas industry. The Belgian company is paying 10.7 times earnings before interest, taxes, depreciation and amortisation
      WP  -  402 words
    • 239 11  -  By JACQUELYN CHEOK jaccheok@sph.com.sg ICP Ltd announced yesterday that it would be selling its factory building and leasehold land at 5 Loyang Drive to Chang Hua Construction Pte Ltd for $11.8 million. This was driven by continued losses at the group’s electroplating business,
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  • Page 6 Advertisements
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  • Page 7 Advertisements
    • 73 7 r Y 'v *«i x i IN! iniian i; Ts inr s# V-> > w XX-' Vi/. saw? -V7iBs« K!» ss t 'V»4 > v*‘' r A*i W 'i I IS w ••■ft Wm, j J tjHi'Mj/rej'i W/lmWih HM;. mm .l!-. WW .mm*.’.f *<m i m You never actually own
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  • SINGAPORE MARKETS
    • 525 8  -  STI sheds 1.49 pts after Asiasons, Blumont and LionGold selldown and caution over US budget no-go STOCKS JOYCE HOOI joyceh@sph.com.sg Correspondent THE market closed on a downbeat note yesterday, hit by apprehension about the budget deadlock in the United States and pummelled by the sell-off
      Source: Bloomberg  -  525 words
    • 186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 8 2 0 0 0 4 8 2 Manufacturing 15 102 37 3 24 4 18 126 41 Commerce 8 41 14 2 12 0 10 53 14 Tpt/Stor/Comms 8 22 8
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    • 123 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 37,258 37,258 62,125 62,125 Manufacturing 495,306 197,121 692,427 116,355 8,078 124,434 Commerce 404,581 349,851 754,432 81,065 17,480 98,544 Tpt/Stor/Comms 98,379 25,436 123,815 94,238 10,298 104,536 Finance 406,840 1,387 408,227 98,022 536 98,558 Construction 414,645 240,526
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    • 112 8 Stock name Close Change CapMallsAsia 1.930 CapitaLand 3.080 +0.020 CapitaMall 1.955 +0.010 CityDev 10.040 -0.070 ComfortDelGro 1.910 -0.005 DBS Grp 16.310 +0.050 GLP 2.830 -0.030 Genting SP 1.435 +0.010 Golden Agri 0.525 HK Land 6.310 -0.010 HPH Trust US$ 0.775 JMH 54.130 +0.230 JSH 33.400 -0.360
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    • 73 8 Oct 7 VALUE CLOSE BT OB/OS -950.0 -211.0 BT CADI -*****.0 -286.0 BT 10-day MA -*****.0 -95.0 FTSE ST Mid Cap 722.12 -24.37 FTSE ST Small Cap 528.36 -17.16 FTSE ST All Share 761.33 -6.48 FTSE ST China Top 199.71 -2.18 FTSE ST China 226.22 -2.19 FTSE
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    • 891 8  -  Compiled by ANDREA SOH SIA Engineering Oct 7 close: $4.94 Maybank Kim Eng Research, Oct 7 VIETNAM-BASED low-cost carrier VietJetAir announced recently that it has signed a memorandum of understanding with Airbus for up to 92 A320s. It also said it will lease eight more A320s from third-party
      Source: Bloomberg  -  891 words
    • 606 8 CURRENCIES Reuters [LONDON] The dollar traded near an eight-month low against a basket of currencies, falling against perceived safe havens for investors such as the yen and Swiss franc as a US budget impasse showed no sign of breaking. Republican House Speaker John Boehner
      Reuters; PHOTO: REUTERS  -  606 words
    • 50 8 VOLUME Innopac 391,295,000 IPCO Intl 329,084,000 YHM 234,685,000 Albedo 200,623,000 AsiaPhos 181,072,000 Sunmoon 179,087,000 HanKore 123,400,000 Blumont 115,541,000 Asiasons 88,705,000 SingHaiyi 73,257,000 VALUE($) AsiaPhos 78,645,460 GLP 54,643,790 SingTel 41,280,630 Keppel Corp 36,226,720 DBS Grp 32,097,780 Blumont 22,558,622 JMH 21,671,690 Innopac 21,378,085 Yangzijiang 18,136,690 HK Land 17,442,931 Clob
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    • 104 8 BY CENTS CLOSE UP DBXT MSINDO 10us$ 1249 49.9 3.3 JMH 5413 28.7 0.4 Hyflux 6% CPS 10 ***** 25.0 0.2 DairyFarm 1045 23.7 1.9 DBXT FTVietnam 10US$ 2341 20.0 0.7 Sarin 184 16.0 9.5 IS Asia BND 100US 1008 10.0 0.8 Keppel Corp 1057 7.0 0.7 SembCorp Ind
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    • 118 8 BY CENTS CLOSE DOWN Asiasons 15 -89.0 -85.6 Blumont 13 -75.0 -85.2 LionGold 25 -62.5 -71.4 Jardine C&C 3410 -52.0 -1.5 GLD 10US$ ***** -47.4 -0.3 JSH 3340 -45.0 -1.1 DBXT MSEurope 10US$ 5525 -43.7 -0.6 DBXT AUD Bonds 5AU$ ***** -25.8 -0.1 H Royal 310 -25.0 -7.5 SPDRS
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    • 5 8 DAILY
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  • Page 9 Advertisements
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  • Page 10 Advertisements
    • 433 10 MCO ho UJ Z) L±J D vD m o o o o CM u < < o: >■ o3 EY Employee Remuneration Reporting Seminar Wednesday, 20 November 2013 Are you ready for next year's Form IR8A reporting season? Join us at our full-day employee remuneration reporting seminar on Form IR8A
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  • Page 11 Advertisements
    • 279 11 KATHY LIEN Trading Currencies Can Be Easy... With The Right Mentor At Your Side. Take advantage of this rare opportunity to learn from Kathy Lien, one of the best known traders in the currency market. She will share with you EVERYTHING that she believes is important to know about the
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  • SINGAPORE NEWS
    • 702 12  -  Households near MRT stations less likely to own cars: survey By SAMUEL EE samuelee@sph.com.sg THE first stage of the Downtown Line will open on Dec 22 and, it seems, not a moment too soon in the effort to make public
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    • 552 12  -  By CHUANG PECK MING peckming@sph.com.sg THE Asean leaders meeting at their 23rd summit starting in Brunei tomorrow will do more than just take stock of the progress made to realise an Asean Community in 2015. With less than two years to go to
      PHOTO: AP  -  552 words
    • SINGAPORE ROUNDUP
      • 105 12 A*STAR’S Institute of Chemical and Engineering Sciences (ICES) has inked a memorandum of understanding with the Korea Institute of Industrial Technology (Kitech) to promote joint research and collaboration in the field of sustainable chemicals. Researchers from both countries will embark on joint academic
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      • 84 12 CFA Singapore has launched a 28-page Code of Conduct for Investment Committees (IC Code), a set of guidelines on best investment practices for those outside the financial industry with fiduciary duties over funds. The code was launched last Friday at a seminar organised by
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    • 463 12  -  Trend is likely to continue even if the Japanese economy improves: Kroll By MALMINDERJIT SINGH msingh@sph.com.sg THERE has been double-digit growth in Japanese companies moving to South-east Asia to capitalise on opportunities there, according to Kroll Advisory Solutions (Kroll). This trend is likely
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    • 446 12  -  Committee puts up 97 proposals to clarify, update laws By NISHA RAMCHANDANI nishar@sph.com.sg THE Insolvency Law Review Committee has proposed enacting a New Insolvency Act, which will consolidate and update key areas of Singapore’s laws pertaining to personal bankruptcy and corporate insolvency as well
      446 words
    • 285 12  -  By JACQUELYN CHEOK jaccheok@sph.com.sg FASTACASH, a Singa-pore-based social payments company, has received US$3 million in Series A funding from investors Jungle Ventures, SPRING SEEDS Capital and Funding the Future (FTF). It officially launched its global social payments platform in the UK yesterday at
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  • SME Inc
    • 1460 13  -  Gobi is always looking for that ‘one in a million’ firm and is a ‘real Venture fund’ that raises its own money, reports WANG XIN MIN SWANKY offices and smart suits are often associated with the glamorous world of venture capitalism, but Ku Kay Mok, a
      PHOTO: ARTHUR LEE  -  1,460 words
    • 1069 13  -  Its freewheeling culture has enabled firm to build an enviable performance record over the last 25 years COMMENTARY B/y, NITIN PANGARKAR, MOHIT AGARWAL The writers are associate professor of strategy and policy at NUS Business School and engineering undergraduate at the Indian Institute of
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  • Page 13 Advertisements
    • 65 13 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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  • MALAYSIA/INDONESIA
    • 423 14 Blueprint includes integrated transit terminal network to link major towns [KUALA LUMPUR] The Iskandar region in Johor looks set to benefit from the implementation of its Transportation Blueprint (2010-2030). Analysts say that the plan will help to transform the region into a bustling business
      FILE PHOTO  -  423 words
    • 485 14 Reuters [NUSA DUA, Indonesia] Bank Mandiri, Indonesia’s biggest bank by assets, will delay a planned global dollar bond because of poor market conditions and instead go direct to lenders, its president director Budi Sadikin said yesterday. The state-controlled bank had been looking to
      Reuters  -  485 words
    • 512 14  -  By S JAYASANKARAN in Kuala Lumpur A MALAYSIAN bookstore manager here failed in her attempt yesterday to get a charge against her in the Syariah court dismissed despite the fact that the High Court had found the charge to be
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  • Page 14 Advertisements
    • 355 14 STPROPERTY SEMINAR K- STRATEGY FOR THE SMART INVESTOR HOW TO CAPITALISE ON CURRENT MARKET TRENDS POLICIES With the new measures and developments plans in place, how should a property investor respond to the ever-changing investment landscape in Singapore and beyond? Have these BURNING QUESTIONS addressed during our seminar: ft How
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  • GREATER CHINA/INDIA
    • 510 15  -  The central bank plans to allow more Chinese firms to import, export gold By JULIE ZHU EJ Insight CHINA is on course to surpass India as the world’s largest gold consumer as Beijing prepares to ease the rules for firms to import
      EJ Insight; PHOTO: BLOOMBERG  -  510 words
    • 555 15 Govt may scale back R&D spending, keep energy and food aid Bloomberg [NEW DELHI] For Arvind Mayaram, India’s push to avoid having its credit rating cut to junk means he will have to forgo caviar and a two-metre-long flat
      Bloomberg  -  555 words
  • Page 15 Advertisements
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    • 2068 15 >®' WATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices GuocoLeisure Limited A Member of Ihe Hong leong Group (Continued in Bermuda as an exempted company) (Co. Reg. No. *****) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the 52 nc Annual General Meeting ("Meeting") of GuocoLeisure limited ("Company")
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  • WORLD
    • 570 16 Country is past the worst of crippling debt crisis: draft budget forecast Reuters [ATHENS] Greece will emerge from six years of recession next year, a draft budget forecast yesterday, signalling the country is past the worst of a crippling debt crisis that nearly broke
      Reuters  -  570 words
    • 363 16 Reuters [STOCKHOLM] Two Americans and a German won the 2013 Nobel medicine prize yesterday for their work on how hormones and enzymes are transported within and outside cells, giving insight into diseases such as diabetes and Alzheimer’s. James Rothman, Randy Schekman and Germany’s Thomas
      Reuters; PHOTO: REUTERS  -  363 words
    • 297 16 Reuters [LONDON] US-based food business Darling International is to buy Dutch meat producer Vion’s ingredients division for 1.6 billion euros (S$2.7 billion), according to a company statement yesterday, in a blow to private equity firms bidding for the unit. Darling won
      Reuters  -  297 words
    • 990 18 Revamp is meant to encourage collaboration across sprawling institution NYT [WASHINGTON] Jim Yong Kim, the genial American physician who took over as the president of the World Bank last year, recently conducted a survey of its 10,000 employees. The survey revealed a “culture of
      NYT; PHOTO: BLOOMBERG  -  990 words
    • 540 18 US may become more of a competitor than a consumer Bloomberg [LONDON] The rising American economy isn’t lifting all boats and may even sink some. As the US economy looks set to accelerate, economists from Bank of America Corp to Morgan
      Bloomberg  -  540 words
    • 654 19 Largest Wall St banks unhappy with Bloomberg’s fees join new network NYT [NEW YORK] The largest banks on Wall Street are teaming up to join a network that could challenge an important part of Bloomberg’s terminal business. The banks have all signed up
      NYT  -  654 words
  • Page 16 Advertisements
    • 1510 16 'St WATS NOTICES ASIA-PACIFIC STRATEGIC INVESTMENTS LIMITED (Incorporated in the Republic of Singapore) (Co. Reg. No. *****9901H) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the Annual General Meeting of the Company will be held at Antica II, Level 2, Orchard Parade Hotel, 1 Tanglin Road, Singapore *****5
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  • Page 17 Advertisements
    • 3888 17 WAT3 NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices Karin Technology Holdings Limited Karin Technology Holdings Limited (Incorporated in Bermuda on 30 August 2002) (Company Registration Number *****) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that an Annual General Meeting of the Company will be held at Level 4,
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    • 436 17 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF UNITED INDUSTRIAL PAPER PRODUCTS MANUFACTURING COMPANY (PRIVATE) LIMITED (In Member’s Voluntary Liquidation) Co. Reg. No. *****0184W NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the member of United Industrial Paper Products Manufacturing Company (Private) Limited
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    • 2294 17 JAYA HOLDINGS LIMITED Company Registration No.: *****2391E Incorporated in the Republic of Singapore NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Twenty-third Annual General Meeting of Jaya Holdings Limited (“the Company”) will be held at 13 Tuas Crescent, Singapore *****7 on Wednesday, 30 October 2013 at 11.00
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  • Page 18 Advertisements
    • 1297 18 NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices SPINDEX INDUSTRIES LIMITED (Incorporated in the Republic of Singapore) (Registration No. *****1451M) NOTICE OF THE 26TH ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 26th Annual General Meeting of the Company will be held at 6 Neythal Road Singapore *****3 on Friday
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    • 578 18 UNITED ENGINEERS LIMITED (Incorporated in Singapore) Registration No: *****0018G LOST STOCK CERTIFICATES Notice is hereby given that nine (9) stock certificates numbered *****7, *****3,*****0/1, *****7/8,*****9/30 *****819 covering 12,000 stock units in total in the name of "Chen Betty, Mrs" have been reported lost. Notice is also given that new stock
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  • Page 19 Advertisements
    • 4238 19 AT3 NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices CONSCIENCEFOOD HOLDING LIMITED BALTIC GROUP CAPITAL LIMITED (Incorporated in the Republic of Singapore) Company Registration No. *****2581E (Incorporated in the British Virgin Islands) Company Registration No. *****12 JOINT ANNOUNCEMENT PROPOSED VOLUNTARY DELISTING OF CONSCIENCEFOOD HOLDING LIMITED 1. INTRODUCTION 1.1 Delisting Proposal. The
      4,238 words

  • EDITORIAL & OPINION
    • 439 20 EDITORIAL FINALLY, one longstanding issue overhanging the global aviation industry appears to have been resolved. And in a civilised way, one might add. At the close of the 38th Assembly of the United Nations International Civil Aviation Organization (ICAO) last week, an agreement was reached
      439 words
    • 801 20  -  THE BOTTOM LINE J BRADFORD DELONG The writer, a former deputy assistant secretary of the US Treasury, is Professor of Economics at the University of California at Berkeley and a research associate at the National Bureau of Economic Research Project Syndicate THE
      Project Syndicate  -  801 words
    • 1055 20  -  Industry stakeholders believe it will benefit Delhi, temples and the Indian public By NEETA LAL The writer is a New Delhi-based journalist SHOULD the Indian government buy gold lying idle in the vaults of the country’s rich temples to tide over its current
      PHOTO: REUTERS  -  1,055 words
    • 1314 21  -  The mess in Washington may eventually create an environment conducive to bipartisan cooperation on fiscal policy LEON HADAR Washington Correspondent NO one is blaming the political infighting over the fiscal standoff that resulted in the shutdown of the federal government for the tragic
      PHOTO: AFP  -  1,314 words
    • 668 21  -  By HARMANDER MAHAL The writer is head of Customer Value Management, Retail Banking Wealth Management, HSBC Singapore INCREASING trade between mainland China and Hong Kong, driven by the Chinese economy’s continued growth momentum, has led RMB-denominated investment instruments to become a hot investment
      BT Graphics: Ludwig Ilio; Sources: HSBC, Bloomberg  -  668 words
    • 143 21 LETTER TO THE EDITOR I REFER to the article “Dollar stocks built on penny towers in ruins” (BT, Oct 5) reporting that Singapore Exchange (SGX) undertook one of its most wide-ranging interventions in recent memory by querying six companies and swiftly suspending three
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  • AVIATION/SHIPPING
    • 885 22 Deal gives Airbus a window as Boeing traditionally dominates Japan Bloomberg [TOULOUSE] Airbus SAS won its first order from Japan Airlines Co, securing a commitment for as many as 56 wide-body planes in a market that Boeing Co has almost monopolised for
      Bloomberg; PHOTO: BLOOMBERG  -  885 words
    • 359 22 AFP [PARIS] A deep restructuring plan with big job cuts is rescuing French airline Air France, and the whole Air France-KLM group will become profitable by the end of the year, the group said yesterday. Air France “is in the process of being
      AFP  -  359 words
    • 231 22 SGX '000 Oct 7 S$ +/-Vol CH Offshore '000 Chuan Hup Hldg 0.27 unch 236 Cosco Corp 0.77 -0.02 1510 Vol First Ship Lea 0,42 Freight Links 186 Grand Banks.............0.23 -0.04 44 Jaya Hold Ltd unch K1Ventures Cosco Corp Keppel Corp 10.57 0.07 3431 Mercator Lines 0.12 unch
      231 words
    • 793 22 They travel at up to 5.6 km/h and stay submerged for 6 hrs Bloomberg [LONDON] The strange contraption being assembled in a modest industrial shed in Breda, a small city in the Netherlands, bears little resemblance to Nautilus, the fictional submarine of
      Bloomberg; PHOTO: REUTERS  -  793 words
    • 1340 23 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 22 Advertisements
    • 41 22 SGD900*Only applicable for healthcareoperators To register, visit www.patientcareasia.com or contact Jiahui at jiahui@sphereconferences.com or +65 6848 5378 Group bookings is available too! Enjoy up to 20% discount if you sign up in groups of 3 or 6. Terms and conditionss apply
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    • 55 22 youv\<5 MWs ACADEMY 2014 Participate in the NO. 1 CHILDREN'S EDUCATION SHOW! Singapore Expo Hall 6A 13 -15 June 2014 11am 9pm BOOK NOW! Limited Booths available! m w -r For more information, please contact Ms Adeline Goh 9681 8289 gohtna@sph.com.sg Mr Jeffrey Foe 9008 9391 jefffoo@sph.com.sg www.thekidzacademy.com.sg Organised by:
      55 words
  • Page 22 Miscellaneous
    • 332 22 CRYPTIC CROSSWORD Across 1 Young seals surrounding the woman’s children (7) 9 Primates back charge for divorce (8) 10 Fantastic rates negotiated to include students (7) 11 Part of high street with redeeming features? (8) 12 Block request for material (6) 13 Condition making a horse trot strangely (4,6) 15
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  • Page 23 Advertisements
    • 50 23 PLACE YOUR AD HERE THE BUSINESS TIMES Shipping times CALL JOE WONG AT 9620 1327 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? II
      50 words

  • SINGAPORE STOCKS
    • 3355 24 Transaction date: Oct 7 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 15 11.7 8Telecom Sale Vol Day Last Quote ('000) High Low Buyer Seller 11.5 7 AEM 20 3.1 A-Sonic
      3,355 words
    • 215 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 Company Last Sale Vol ('000) Day High Last Quote Low Buyer Seller Div Gr Yld C'vr y Net M Cap P/E Smil 27.5 17.1
      215 words
    • 11418 25 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** Aberdeen Asset Mgt Asia Limited APS Alpha Fund (USD)!** Asian Local Ccy SD Bond Aberdeen Asset Mgt Asia Limited 0.8841/ Global Emerging Markets!** Asian Smaller Cos!” 1.9333/ EM local Ccy Bond 0 9082/ European Opportunities!”
      11,418 words
    • 249 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 $mil Company 52 31 Genting HK US$ US43 -1 3784 44 42.5 42.5 43 2831.3 Sale 281 191 TanChongInt HK277 -3 78 278 276 276 278 4.3 2.5
      249 words
    • 852 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 $mil 126 107.1 ABF SG Bond ETF Last 143 125 CIMB APAC Div 100S$D 129.4 128.5 129.4 114.4 99.2 CIMB APAC Div 100US$ US104 103.2 103.9 10.9
      852 words


  • FINANCE & COMMODITIES
    • 589 26 Oct 7 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.79 *****.23 *****.93 Dec13 *****.00 *****.00 *****.00 *****.00 *****5 *****7 Mar14 *****.00 *****.00 *****.00 *****.00 6 311 MSCI TAIWAN INDEX FUTURES SPOT 294.65 294.65 292.49 Oct13 294.00 296.20 291.40 292.80 ***** *****2 Nov13 294.80
      589 words
    • 373 26 In local curr In S$ In US$ dy yr dy yr dy yr Oct 4 Index Change Change Change Change Change Change World Preliminary 1095.6 0.2 16.8 -0.2 17.7 0.1 15.4 EAFE Preliminary 898.6 -0.1 16.0 -0.5 15.5 -0.2 13.3 Europe Preliminary 1285.3 0.3 12.0
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    • 471 26 Oct 7 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.970 5.756 0.692 7.291 58.150 108.425 0.911 10.077 2.998 1.135 99.878 40.515 1.174 9.440 0.849 27.665 29.505 0.586 0.940 Canada 1.031 5.932
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    • 48 26 Oct 7 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 1 mth 2 mths 2 mths 9 mths 0.***** 12 mths 0.***** Source: Thomson Reuters
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    • 155 26 Oct 7 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1736 1.1744 0.9400 0.9405 Canadian dollar 1.2094 1.2103 0.9693 0.9687 Euro 1.6956 1.6960 1.3581 1.3582 NZ dollar 1.0340 1.0349 0.8282 0.8288 Sterling pound 2.0035 2.0043 1.6047 1.6051
      155 words
    • 121 26 As at 9am Oct 07 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.203 1.146 Can dollar 1.233 1.186 Euro 1.731 1.649 Sterling pound 2.038 1.960 NZ dollar 1.060 1.020 US dollar 1.272 1.212 Local dollars to 100 units of foreign
      121 words
    • 154 26 Oct 7 $S Offer Bid 0vernight 0.08 0.05 1-month 3/8 1/4 2-months 3/8 1/4 3-months 7/16 5/16 Overnight mode: 0.20 US$ Offer Bid 7 days 0.20 0.10 1 month 0.26 0.16 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
      154 words
    • 1180 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 14.5 -9 307 0.0 5 -73 57 Asia-Pacific Strategic W*****6 Ratio Acma Ltd W*****7 1.1 unch 2785 1 4 65 2.82 33 Price AlliedTech W*****1 Disc Ascendas Reit
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    • 86 26 Oct 7 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 6-Month BS*****Z 04-Apr-14 0.28 1-Year BY*****H 02-May-14 0.29 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0W 1.13 01-Apr-16 101.85 101.89 101.87 5-Year N*****0T 0.5 01-Apr-18 98.45 10-Year NX*****H
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    • 140 26 Oct 7 GOLD(US$/oz) Oct 04 Oct 07 Hong Kong 1324.00 1320.00 Oct 03 Oct 04 London 1314.74 1310.63 1315.62 1311.56 Source: Thomson Reuters Source: Thomson Reuters CAST BAR Oct 07 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 118 53 5gm 336 263
      140 words
    • 57 26 Oct 7 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Oct 13 2310.0 2339.0 2353.0 2310.0 343 2673 Nov 13 2310.0 2315.0 2332.0 2308.0 1981 ***** Dec 13 2308.0 2305.0 2329.0 2303.0 ***** ***** Jan 14 2309.0 2309.0
      57 words
    • 109 26 Oct 4 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Nov 13 1295.00 1288.25 1298.00 1280.00 Jan 14 1295.00 1289.00 1297.75 1281.00 Mar 14 1279.25 1270.75 1280.75 1263.00 May 14 1257.75 1250.50 1260.00 1243.25 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Oct 13
      109 words
    • 95 26 Oct 4 COCOA (£/tonne) Close Prev High Low Dec 13 1694 1663 1699 1664 Mar 14 1678 1644 1682 1645 May 14 1670 1637 1673 1639 Jul 14 1662 1632 1664 1634 COFFEE(US$/tonne) Close Prev High Low Nov 13 1709 1703 1756 1703 Jan 14 1705 1693 1740 1695
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    • 70 26 CRUDE OIL PRODUCTS Oct 04 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 108.27 -0.91 WTI (Near Mth) 103.65 0.59 Dubai (1-Mth F) 104.69 0.13 Tapis blend 117.79 0.22 Minas 108.79 0.22 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 98.39 -0.14 Jet Kerosene 122.65 -0.28 US$/barrel OpecOil Basket
      70 words
    • 22 26 Oct 7 S$ Bid Offer 1-month 1.2485 1.2487 2-months 1.2484 1.2487 3-months 1.2484 1.2486 6-months 1.2481 1.2483 Source: OCBC
      22 words
    • 65 26 Oct-04 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1799.75 1781.75 3 months 1844.00 1827.00 Copper, Grade A(US$/tonne) Cash 7231.50 7154.00 3 months 7260.00 7185.00 Lead(US$/tonne) Cash 2018.25 2033.25 3 months 2045.00 2060.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months *****.00
      65 words

  • PROPERTY
    • 739 27 Lenders target the weakest markets as cash buyers limit lending in London Bloomberg [LONDON] The risky loans that helped cause the UK’s property crash are making a comeback as cash buyers from abroad limit lending opportunities in London and banks instead venture into
      Bloomberg  -  739 words
    • 744 28  -  It accounted for 26.7% of US$2.77b of hotel investment sales deals: Savills By KALPANA RASHIWALA kalpana@sph.com.sg SINGAPORE was the second most active market in Asia-Pacific for hotel transactions after Australia in the third quarter, according to a report by Savills.
      744 words
    • 201 28 Bloomberg [LONDON] Intu Properties plc, the UK’s biggest shop-ping-centre owner, agreed to buy a mall in northern Spain for 162 million euros (S$274 million) in a venture with Canada Pension Plan Investment Board to grow its business in continental Europe. The partners will
      Bloomberg  -  201 words
    • 444 29  -  Taking up key spots are Shaw Theatres, NTUC Foodfare and FairPrice Finest By ONG CHOR HAO ongch@sph.com.sg [SINGAPORE] The Seletar Mall, a 70:30 joint venture between Singapore Press Holdings (SPH) and United Engineers (UE), has confirmed three anchor tenants as it prepares to open
      FILE PHOTO  -  444 words
    • 356 29 Reuters [DUBAI] Family-owned Dub a i con g l omera t e Al Habtoor Group said yesterday that it was launching a US$3 billion real estate development in the emirate that would include 3,000 hotel and residential units as well as a water-themed
      Reuters  -  356 words
    • 320 29 Bloomberg [TAIPEI] Taiwan insurers have the financial capacity to invest at least US$10 billion in overseas properties after the island’s government relaxed rules in April on property investments abroad, according to an industry group. Insurers including Cathay Life Insurance Co have already submitted plans
      Bloomberg  -  320 words
  • Page 27 Advertisements
    • 409 27 1 Jl(, r The Mohatned Sultan Twins Double Conservation Shophouses with 5,000 sq ft land and potential 3.8 plot ratio A unique opportunity to redevelop a pair of adjacent commercial residential shophouses on Mohd Sultan. 0 high ceilings, timeless heritage I 999 years, near Robertson able to build 10 storeys
      409 words
    • 542 27 320 SERANGOON ROAD Rare Freehold Commercial Redevelopment Site 1 Orchard Rd GTE ~o DC Little India Int Farrer Park cr Connexion Medical Hub o o cn 0 Farrer Sq Serangoon Rd The Verge Conservation Shophouses SUBJECT SITE TZ5 DC < Mustafa Ctr (3 Parkroyal City Square Mall i Jin Besar
      542 words
    • 334 27 Jones Lang w LaSalle Rj V j era P 0 j n t RiVef R(l Real value in a changing world Plaza The Atrium Singapura Orchard m,--N ORCHARD ROAD Dhoby Ghaut MRT river nJk° I Ste MRT \Q ROAD HA vaoSS Site Area 1,354.5sm, Freehold, PR 2.8. As-built GFA: 4,580.39
      334 words

  • Page 28 Advertisements
    • 205 28 Buyers, find the right property, buy at the right price. i ■■■Hi, rrm r HI I! r n "'ii r mill riinii i ■in i u r r mu i Hill I r •fHHi. a ««MII i Hum mu r" 3 ;r ts: tsc 1 c::zaaan!: Tlllll r IMhV SST
      205 words
    • 128 28 Corporate HQ in Alexandra Modern 5-storey business space with lifts and carpark 99 years, B1 zone 28,000 sq ft (approx.) Ground floor showroom plus upper floors for business space/ warehouse ancillary use For Sale by Private Treaty Donald Goh 9690 9541 CEA Reg. No.: R*****5B savills Grow Your Stock Call
      128 words

  • Page 29 Advertisements
    • 389 29 w a t r-K Y ■W fc ka K '5 Mr ->;«y £!U llflill n m m *Kr T7 ■‘-'Tjrti as N 9 S 9 9 ft ft ft ft SB P33I t Apartments available from only Launch Exhibition Saturday 12 th Sunday 13 th October 2013,11am 7pm The Regent
      389 words

  • Page 30 Advertisements
    • 112 30 II I want an insurance plan that protects my family from life's surprises." That's where we can help! With over 140 years of experience in protecting our customers against the unexpected, we ensure your family is safe in our hands by providing you with life insurance plans tailored to your
      112 words