The Business Times, 9 September 2014

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Total Pages: 30
1 30 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 051/08/2014 Tuesday, eptember 9, 2014
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  • 859 1  -  Gambling through the Internet, telephone, or other technology could be banned By KELLY TAY kellytay@sph.com.sg @KellyTayBT [SINGAPORE] Singapore looks set to enact the world’s most restrictive laws on online and mobile gambling. These pursuits will soon be prohibited if the Remote Gambling Bill tabled
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  • MARKETS DIGEST
    • 64 1 HST INDEX 3,335.19 (-6.54) HST INDEX FUTURES 3,336.00 (-6.00) HSIMSCI 377.13 (-0.40) ESIMSCI FUTURES 377.00 US$ S$ US$ (S$ per US$) 1.254 (US$/S$ per 1.617 2.028 EURO (US$/S$/€ 1.294 1.623 Foreign currency per US$ S$ YEN 105.10 83.80 RM 3.173 2.530 HK$ 7.750 6.179 BAHT 32.02 25.53 RUPIAH 11,726
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    • 49 1 Monday Change KL COMP 1,871.09 +2.63 NIKKEI 225 11,778.63 +46.60 HANG SENG 25,190.45 -49.70 SET INDEX 1,584.77 +0.45 JAKARTA COMP 5,246.48 +29.15 MANILA COMP 7,314.94 +51.36 SEOUL COMP 2,049.41 -6.85 SHENZHEN B 967.30 +6.25 MUMBAI IND 27,319.85 +293.15 12 noon EDT Change DOW 17,116.04 -21.32 NASDAQ 4,583.41 +0.51
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    • 20 1 SINGAPORE MALAYSIA MALAYSIA 6.55 HONG KONG 5.00 INDONESIA KOREA TAIWAN 5.036 JAPAN 1.475 KOREA INDIA BRITAIN Source: Bloomberg
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  • 504 1  -  By MINDY TAN tanmindy@sph.com.sg @MindyTanBT [SINGAPORE] Government agencies should continue to provide affordable business space and consult businesses closely in the policy-mak-ing process, as small and medium enterprises (SMEs) find themselves in an ev-er-tightening squeeze between rising costs and falling profits. According
    Source: SCCCI  -  504 words
  • Page 1 Advertisements
    • 177 1 COMMENTARY India, China’s history of closeness PAGE 23 SME Inc Riding on air COMPANIES Wilmar, First Pacific’s acquisition of Goodman Fielder delayed PAGE 4 BUILDING GLOBAL COMPANIES Banyan Tree sticking to its guns in China PAGE 9 PAGE 14 PROPERTY JLL investment sales ace leaving firm IPAGE 30 Slight rise
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  • TOP STORIES
    • 490 2 Bill to outlaw remote gambling tabled SINGAPORE looks set to enact the world’s most restrictive laws on online and mobile gambling. These pursuits will soon be prohibited if the Remote Gambling Bill tabled for the first time in Parliament on Monday is passed. FRONT PAGE Consult business sector
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    • 682 2  -  HDB’s restrictions on LBS flats enhance value of retained lease: Khaw YESTERDAY IN PARLIAMENT By LYNETTE KHOO lynkhoo@sph.com.sg @LynetteKhooBT [SINGAPORE] The Ministry of National Development (MND) made it clear on Monday that under the Housing Development Board’s (HDB) lease buyback scheme
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    • 552 2  -  Reports by MALMINDERJIT SINGH msingh@sph.com.sg @MalminderjitBT [SINGAPORE] If you think it is legal for you to read that email that just came in to your inbox on your tablet or reading that last line of your e-book while driving, think again.
      FILE PHOTO  -  552 words
    • 629 2 [SINGAPORE] Members of Parliament on Monday lauded the principles behind the proposals set out by the Applied Study in Polytechnics and Institute of Technical Education Review (Aspire) committee, but cautioned that the success of the scheme hinged greatly on its implementation. Denise Phua (Moulmein-Kallang) believes
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    • 739 3  -  7.1% Q2 GDP drop raises chances of BOJ stimulus, casts doubts on plan to increase sales tax By ANTHONY ROWLEY in Tokyo THE dramatic slump in Japan’s gross domestic product (GDP) during the second quarter of this year was worse than the initially
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    • 753 3 Reuters [BEIJING] China’s imports unexpectedly fell for the second consecutive month in August, posting its worst performance in over a year and stoking speculation about whether authorities should loosen policy further to revive domestic demand. Imports by the world’s second-biggest economy
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  • Page 2 Advertisements
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  • Page 3 Advertisements
    • 93 3 GP GIRARD PERREG AGX MECHANICS OF TIME SINCE 1791 y '/AJ k rv' pc GIRARD-PERREGACJXVp I M\. i O' 10 I KP CO 0? m c> Nj <o o H ABMD1VH 7c TRAV Hill GIRARD-PERREGAUX *****-0084 CALIBER, SELF-WINDINGjMECHANICAL MOVEMENT HOUR, MINUTE, SMALL SECOND, CHRONOGRAPH, DATE, WORLD TIME WITH DAY/NIGHT INDICATOR
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  • COMPANY NEWS
    • 541 4  -  Shares of the three entities fall on news of the three-month extension BY ANDREA SOH sandrea@sph.com.sg @AndreaSohBT SHARES of Wilmar International, First Pacific and Goodman Fielder fell on Monday after the three said they were pushing back the date by which Wilmar
      PHOTO: BLOOMBERG  -  541 words
    • 263 4  -  By JOYCE HOOI joyceh@sph.com.sg @JoyceHooiBT STARHUB now offers 4G data roaming on 25 mobile networks across 21 countries the largest number of destinations so far, compared to its two competitors. The 4G data will have the same roaming rates as the
      PHOTO: BLOOMBERG  -  263 words
    • 423 4  -  Hng Kiang: More seamless customs procedures ahead By NISHA RAMCHANDANI nishar@sph.com.sg @Nisha_BT COMPANIES can look forward to more seamless customs procedures as Asean member countries continue to work together towards greater economic integration, said Minister for Trade and Industry Lim Hng Kiang. As part
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    • 465 7  -  Plan to manufacture more than half of its products in this region By CLAIRE HUANG huangjy@sph.com.sg @ClaireHuangBT IN the next 10 years, medical technology firm Becton, Dickinson and Company (BD), which uses Singapore as a base for the region, will manufacture more
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    • 317 7  -  Its yearly return of 9.6% is behind Hang Seng’s 14.3% By KENNETH LIM kenlim@sph.com.sg @KennethLimBT AN investment in the Straits Times Index (STI) three years ago would have generated solid returns, but a closer look reveals that Singapore’s equity benchmark lagged many peers. A
      Source: Bloomberg  -  317 words
    • 280 7 Reuters [LONDON] State-backed Royal Bank of Scotland plans to raise up to US$4 billion from the share flotation of its US bank Citizens Financial Group this month, putting it on track to be the biggest US share offering by
      Reuters  -  280 words
    • COMPANY BRIEFS
      • 87 8 ST JAMES Holdings has received in-principle approval from the Singapore Exchange for its reverse takeover deal with Perennial Real Estate Holdings. The deal, first announced in March this year, will see Perennial’s real estate assets injected into St James, which will divest
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      • 124 8 TEE International on Monday announced that its engineering unit has clinched another S$73 million of new contracts in Singapore, bringing its total order book to about S$493 million. These new contracts include a contract from Changi Airport Group (CAG) as well as
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      • 69 8 LEY Choon Group on Monday announced that its subsidiary, Ley Choon Constructions and Engineering, has won a S$16.8 million contract from PowerGas to lay gas transmission pipelines from Woodlands Avenue 10 to Senoko Road. “The contract is not expected to have any material impact on
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      • 75 8 STARBURST Holdings has been awarded a S$3.2 million contract for the maintenance of certain firearm shooting ranges in South-east Asia. Under the contract, wholly owned unit Starburst Engineering Pte Ltd will provide comprehensive services for the maintenance of ballistic protection system of these firearm shooting ranges
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      • 98 8 REAL estate developer GuocoLand said it has obtained a favourable judgment following a six-year appeal on the ownership of a project in China. The Hainan High Court has effectively restored GuocoLand’s ownership of its stake in the Beijing Dongzhimen project, GuocoLand said. The High Court revoked
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    • 979 8 Three-month inflows set to hit highest level since 2009 Markit tracking Bloomberg MONEY managers are turning bullish on Singapore after shunning it for more than a year as political stability and cheap equity valuations push the city-state to the top of
      Bloomberg; PHOTO: BLOOMBERG  -  979 words
  • Page 4 Advertisements
    • 266 4 OPENS TODAY 9-11 Sept 2014 I Suntec Singapore I Level 3 4 m MEDICAL FA R VAS A 10 th International Exhibition on Hospital, Diagnostic, Pharmaceutical, Medical Rehabilitation Equipment Supplies Concurrent Event SINGAPORE MEDICAL HEALTHCARE CONFERENCE SINGAPORE MEDICAL HEALTHCARE CONFERENCE www.medicalfairsg.com Discover A World of Medical Innovations From... 800 leading
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  • Page 5 Advertisements
    • 304 5 BLVD HEIGHTS THE ULTIMATE URBAN LIVING EXPERIENCE IN THE HEART OF DOWNTOWN DUBAI Walking distance to Burj Khalifa, The Dubai Mall and The Dubai Fountain Views of The Opera District Sales start on Saturday 13th September at 2pm Singapore: Grand Hyatt Singapore, 10 Scotts Road First come, first served Register
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  • SINGAPORE MARKETS
    • 526 6  -  It’s a sad market entering a quieter quarter and the volumes are dismal, says a trader STOCKS KENNETH LIM kenlim@sph.com.sg @KennethLimBT Correspondent THE Mid-Autumn Festival had a bitter filling for Singapore stocks on Monday. If it is any consolation, there is that once in
      Source: Bloomberg  -  526 words
    • 77 6 Sep 8 VALUE CLOSE BT OB/OS -392.00 -41.00 BT CADI -*****.00 -78.00 BT 10-day MA -*****.00 -39.00 FTSE ST Mid Cap 780.73 -0.18 FTSE ST Small Cap 550.55 +0.62 FTSE ST All Share 810.87 -1.19 FTSE ST China Top 198.50 -0.90 FTSE ST China 229.73 -1.73 FTSE
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    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 5 7 0 0 0 3 5 7 Manufacturing 31 51 47 7 13 11 38 64 58 Commerce 21 25 14 4 7 3 25 32 17 Tpt/Stor/Comms 12 17 12
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    • 888 6  -  Compiled by JOYCE HOOI Telecom Sector Sept 8 OCBC INVESTMENT RESEARCH FOR Q2 CY2014, it was a pretty muted quarter for the telcos, with all of them reporting results that were within our expectations, despite the weaker revenues and earnings SingTel saw a 2 per cent y-o-y earnings
      Source: Bloomberg  -  888 words
    • 122 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 8,855 8,855 38,717 38,717 Manufacturing 175,351 46,136 221,487 88,313 3,540 91,852 Commerce 92,395 38,472 130,867 37,529 2,417 39,946 Tpt/Stor/Comms 72,702 6,739 79,441 84,175 1,278 85,453 Finance 20,923 330 21,253 112,678 82 112,760 Construction 627,356 376,652
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    • 121 6 Stock name Close Change Ascendas Reit 2.360 CapitaLand 3.330 -0.030 CapitaMall Trust 1.990 CityDev 9.810 -0.060 ComfortDelGro 2.540 -0.020 DBS Grp 18.240 +0.080 Genting Sing 1.205 -0.015 Global Logistic 2.870 -0.040 Golden Agri-Res 0.510 HPH Trust USD 0.715 +0.005 HongkongLand USD 6.910 -0.070 JMH 400 USD
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    • 576 6 CURRENCIES Reuters [LONDON] Sterling sank by the most in more than a year on Monday after a poll predicted for the first time this year that Scotland will vote for independence, prompting the biggest surge in market volatility since Britain’s last general
      Reuters; PHOTO: REUTERS  -  576 words
    • 61 6 VOLUME Singapore eDev R 606,526,000 Singapore eDev 363,616,000 IHC 71,178,000 APAC Strategic 69,793,000 ThaiBev 34,354,000 HPH Trust USD 28,899,000 Dyna-Mac 24,591,000 SIIC Environment 23,410,000 Mirach Energy 19,457,000 Blumont 18,189,000 VALUE($) DBS Grp 55,239,910 OCBC Bank 33,929,220 HPH Trust USD 25,900,110 ThaiBev 24,689,615 Keppel Corp 22,292,762 CapitaMall Trust
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    • 117 6 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 205.7 1.2 Lyxor Indonesia10US$ 9591 155.5 1.3 Lyxor ThaiSET 10US$ ***** 154.2 0.9 SPDRS S&P 500 10US$ ***** 120.4 0.5 SPDR DJIA 10US$ ***** 66.5 0.3 DBXT EONIA 5US$ ***** 60.2 0.3 DBXT iBoxxKR 5US$ ***** 60.2 0.3 DBXT MSKorea 10US$
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    • 133 6 BY CENTS CLOSE DOWN JMH 400 USD 6228 -52.7 -0.7 DBXT USDIGInfl 5US$ ***** -31.4 -0.1 JSH 500 USD 3714 -26.3 -0.6 DBXT AUD Bonds 5AU$ ***** -23.5 -0.1 DBXT AUDCS 5SG$ ***** -20.0 -0.1 DBXT MSEurope 10US$ 6097 -18.8 -0.2 Lyxor Europe 10 US$ 1537 -15.1 -0.8 DBXT
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    • 4 6 DAILY
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  • Page 7 Advertisements
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  • Page 8 Advertisements
    • 137 8 New Improved: ST|obs.sg Tailor your STJobs homepage for a personalised experience. i Have you seen the new site? f i STJobs has improved the way you search for jobs online complete with a brand new look. Here are 3 things you should know about the revamped STJobs.sg; RSI First job
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    • 203 8 $450 Received 2 online webinars if you sign up before 5 September 2014 To Get The True “Edge” in Forex You Need to Know When to Enter and Exit The Market. LEARNING OUTCOME: Learn the ONE Key Technique to survive and thrive in the currency market Understand Why Most Traders
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  • BUILDING GLOBAL COMPANIES
    • 450 9  -  By KELVIN TAN The writer is managing director and head of commercial banking, HSBC Singapore WHILE China's burgeoning economy has slowed somewhat during the past few years, this is more a reflection of the nation transitioning from an industrial base that is
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    • 1311 9  -  The hospitality operator is determined to adhere to its core values as it expands into new markets and business segments, in particular targeting China’s growing middle class, reports FRANCIS KAN reports FRANCIS KAN THERE was no grand strategy, or public relations-fuelled timetable.
      FILE PHOTO  -  1,311 words
  • Page 9 Advertisements
    • 105 9 OVERSEAS STARTS JUST OVER THE ROAD. At HSBC, we believe doing business around the word should be as easy as doing it around the corner. We opened our first branch in China over 150 years ago and now have one of the largest networks of international banks. So if you're
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  • Page 10 Advertisements
    • 2755 10 China Globalising; RMB Rising Advertorial Brought to you by HSBC^ Commercial Banking Outlook and opportunity Trading with China A summary by The Economist Events Since China began gradually liberalising its economy, and especially since it joined the WTO in 2001, talk about its place in the global economy has been
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  • Page 11 Advertisements
    • 2203 11 China Globalising; RMB Rising Advertorial What next for China's currency? While the onshore RMB and the country's capital account remains somewhat restricted, the introduction of special free trade zones, among other liberalisation measures, should futureproof the opening of mainland China's capital markets to foreign entities and full convertibility of the
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  • SINGAPORE NEWS
    • 335 12  -  Results will be out in April next year at ITS forum in China BY LEE MEIXIAN |éemx@sph.com.sg @LeeMei><ian THE Land Transport Authority (LTA), together with the Intelligent Transportation Society Singapore (ITSS), is bidding to host the 26th Intelligent Transport Systems
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    • 265 12  -  By JAN LEE janlee@sph.com.sg A NEW Toa Payoh facility that will house its regional headquarters is in the pipeline for the multinational company Philips. The 38,000-square metre facility is set to be completed by the first half of 2016 and will enable
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    • 358 12  -  It, however, remains positive, Manpower Group survey shows By CAI YONG caiyong@sph.com.sg HIRING intentions are expected to weaken in the fourth quarter of this year compared to Q4 2013, though the employment outlook remains positive, according to a survey. The Manpower
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    • 397 12 Chew Hock Yong will oversee Municipal Services Office CHEW Hock Yong, the chief executive of the Land Transport Authority (LTA), will leave the statutory board to take up his new post as second permanent secretary of the Ministry of National Development
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    • SINGAPORE ROUNDUP
      • 93 12 THE employment rate of older Singaporeans aged 55 to 64 has gone up in the past nine years, from 47 per cent in June 2004 to 65 per cent in June 2013, said Senior Minister of State for Manpower Amy Khor on Monday. Some
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      • 93 12 THE new batch of nine Nominated Members of Parliament (NMPs) was sworn in on Monday after taking their oath of allegiance at the start of Parliament sitting. All of them are first-time NMPs and will serve for a two-and-a-half-year term. The nine are lawyer
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      • 68 12 GLENEAGLES Hospital is the official medical partner of the upcoming BNP Paribas Women’s Tennis Association Finals Singapore presented by SC Global tournament this October. The partnership will see Gleneagles provide a team of eight senior specialist doctors who will work with the players’ own
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  • Page 12 Advertisements
    • 70 12 11 14 September 2014 Singapore Expo Hall 5 11 am 10 pm Daily FREE ADMISSION Into its11thyear WORLD FOOD FAIR Singapore’s MEGA Stand to win S$6,888in cash! Look out for lucky draw coupons in major English and Chinese newspapers Over4Days of GREAT BARGAINS Over 100Food and Beverage Manufacturers and Suppliers
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    • 54 12 FI'IC FACILITIES MANAGEMENT CONFERENCE 2014 16 October 2014 MAX Atria Singapore EXPO 8.30am to 6pm www.fmse.com.sg/conference W N Transforming Facilities Management through Innovation Productivity Tl- N TO REGISTER: Tel:+65 6319 4021 Fax: +65 6319 6140 Email: fmc@sph.com.sg 3 /ST; 3&SSSMB IBH 1 Organised by: In partnership with: sphere ASUBSIDIARYOFSfh Singapore
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    • 24 12 Getyour 5th ‘C’ here Choose from various club memberships or sell yours in CLASS 66 To advertise, call the Print Classified Hotline: 1800-289 9988
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  • Page 13 Advertisements
    • 324 13 the Business Times Get the big picture anytime, anywhere Subscribe to The Business Times All-in-One PLUS and receive the Dell Mobile Projector M115HD worth S$1,000. 44.99 /month THE BUSINESS TIMES ALL IN ONE PLUS The Business Times ta ks <°Luxury watch sales United Engineers as?. seen picking up in H2
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  • SME Inc
    • Article, Illustration
      975 14  -  First automobile manufacturer based here is betting on changing consumer behaviour, MINDY TAN reports TANreports behaviour,MINDY TANreports IT will not come cheap, but Alife Air Automobiles says that the majority of its automobiles scooters mostly when it launches its range come October are aimed at the man
      PHOTO: YEN MENG JIIN  -  975 words
    • 985 15  -  Research shows companies with good sustainability practices have share prices that outperform those of companies without them VIEW FROM AN NTU PROFESSOR By KEVIN KOH, TONG YEN HEE The writers are assistant professor and associa te professor respectively at NTU’s Nanyang Business
      985 words
    • 774 15  -  By FILIPE SANTOS JANE WILLIAMS AS corporations recognise the link between CSR (corporate social responsibility) and sustainability, opportunities arise for socially conscious leaders to change the world from the inside out. Up-and-coming leaders today are looking for more than a good salary they’re searching
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  • Page 14 Advertisements
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    • 77 14 www.omy.sg Buzz Talk m news.omy.sg HOT PROPERTY bali lane 2nd fir a sf. sulg* Convenient^ hUman Near pc r .i^ Usf A1 lo cation. immed ator Gocd rental Ar S ea''ISo P O h^! r fr9iRdad trades. S8.5k neg SU S SHOPS FOR RENT Check this and many other properties
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  • Page 15 Advertisements
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  • MALAYSIA
    • 461 16  -  S$2b worth being transacted monthly by online customers here By in PAULINE NG in Kuala Lumpur MAYBANK’S new “Mobile to Mobile Transfer” app is growing by nearly a fifth annually, and with an increasing number of its Singapore registered online banking customers using
      PHOTO: REUTERS  -  461 words
    • 431 16  -  Fund manager sees palm oil prices hitting 2008 lows By S JAYASANKARAN in Kuala Lumpur MALAYSIAN plantation stocks have been on a sixyear rally. Tan Teng Boo thinks a serious correction is long overdue. The managing director of global fund manager icapital.biz has long
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    • 439 16 [PETALING JAYA] Khazanah Nasional is said to be looking to divest its stake in Westports Holdings, a move that resonates with its policy to reduce stakes in companies that are deemed as non-stra-tegic in its portfolio of investments. Sources said the
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  • Page 16 Advertisements
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  • GREATER CHINA/INDIA
    • 620 17 Fund managers will also seek answers on its ties with Alipay, among others Bloomberg [NEW YORK] Hey Alibaba, what’s the deal with all those deals? That’s a key question fund managers were to toss at the Chinese company’s executives on Monday as
      Bloomberg  -  620 words
    • 359 17 But city able to manage any fallout from current political protests: Moody’s AFP [HONG KONG] Ratings agency Moody’s said on Monday that prolonged political discord in Hong Kong over China’s refusal to grant the key financial hub full democracy could negatively impact the city’s
      AFP  -  359 words
    • 601 17 AFP [NEW DELHI] Smartphone makers are in a race to the bottom of India’s economic pyramid as they battle for customers in the fast-grow-ing low-end market segment where analysts say opportunities are vast. India is now the quick-est-expanding smartphone market globally
      AFP; PHOTO: AFP  -  601 words
  • Page 17 Advertisements
    • 309 17 FUTURE READY–NOW SMU EXECUTIVE DEVELOPMENT SMU Executive Development enables executives to be “Future Ready–Now”, equipping them with the knowledge, skills and confidence that managers and leaders operating in Asia and globally require today and will be increasingly demanded in the future. Our portfolio of programmes empowers you to make key
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  • WORLD
    • 891 18 Bonds’ resilience a rebuke to those who decried Fed’s QE policy Bloomberg [NEW YORK] If you agreed with all the academics, billionaires and politicians who denounced US Federal Reserve monetary policy since the financial crisis, you missed US$1 trillion of investment
      Bloomberg  -  891 words
    • 407 18 Reuters [LONDON] Britain’s Prince William said on Monday he and wife Kate were thrilled to be expecting their second baby, after news of the pregnancy was released early because the Duchess had been suffering from morning sickness. The baby will
      Reuters  -  407 words
    • 446 18 Trade mispricing is primary way funds leave country: study Reuters [WASHINGTON] Over US$30 billion in dirty money linked to crime, corruption and tax evasion is flowing out of Brazil each year, double the amount a decade earlier, a
      Reuters  -  446 words
    • 488 18 Reuters [RIO DE JANEIRO] Brazil’s October presidential race has been shaken up by a corruption scandal allegedly involving state-run oil firm Petrobras and dozens of lawmakers, with both leading candidates forced onto the defensive after colleagues were implicated. Media reported on Friday night
      Reuters; PHOTO: AFP  -  488 words
    • 918 18 Fed faces more scrutiny, demands for its oversight Bloomberg [WASHINGTON] Federal Reserve chair Janet Yellen has tried to repair damaged relations with Congress during her first seven months in office. The fix-up isn’t going very well. Republicans on the House Financial
      Bloomberg; PHOTO: BLOOMBERG  -  918 words
    • 915 19 Final analysis could lead to an overhaul of the industry Re uters [NEW YORK] The tens of millions of dollars in annual fees that mutual fund companies pay to brokerages and their financial advisers to encourage sale of certain funds
      Reuters  -  915 words
    • 271 19 Bloomberg [LONDON] Britain’s largest banks including Barclays Plc and Royal Bank of Scotland Group Plc have cut lending to consumers and businesses by £364.7 billion (S$741.6 billion) in the past five years, KPMG LLP said. Total lending at
      Bloomberg  -  271 words
    • 838 19 Region’s deficits are smaller, bond yields high and currencies already quite weak Reu ters [SINGAPORE] Faced once again with the prospect of rate rises in the United States, investors in Asia are no longer selling and running as in the past, choosing
      Reuters; PHOTO: REUTERS  -  838 words
    • 774 20 EU finance chief asks watchdog to wrap up probe into banks’ use of allowances Reuters use o f so-called allowances to soften a European Union (EU) cap on bonuses could face a “coordinated policy response”, the EU’s financial services chief, Michel
      Reuters  -  774 words
    • 930 20 Reuters [TOKYO] Tokyo’s 2020 Summer Olympic Games were meant to be different: compact, on budget and on time. But now, as the Japanese capital moves to leap from bid to building a year after winning the games, the optimism is
      Reuters; PHOTO: REUTERS  -  930 words
    • 460 20 Bloomberg [SAN FRANCISCO] For Twitter Inc, a tweet will soon be more than a form of communication or an ad it will be an invitation to buy. The San Franciscobased microblogging company is testing a “buy” button so consumers can purchase
      Bloomberg; PHOTO: AFP  -  460 words
    • 331 20 Bloomberg [LONDON] An independent Scotland would start out with a budget deficit of at least 6.4 per cent in the event of a vote to break away from the UK in a nearing ballot, according to the Centre for Economics and Business
      Bloomberg  -  331 words
    • 439 20 Lagarde: Updated figure should be just above 3% this year AFP [PARIS] The head of the International Monetary Fund (IMF) on Monday hinted that the global lender could downgrade its forecast for world economic growth this year when it
      AFP  -  439 words

  • Page 19 Advertisements
    • 284 19 The Business Times NOTICES UNITED OVERSEAS BANK LIMITED Company Registration No. *****0026Z (Incorporated in the Republic of Singapore) LOST SHARE CERTIFICATES Notice is hereby given that the following share certificates have been reported lost, destroyed or mislaid: Notice is also hereby given that new share certificates will be issued and
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  • AVIATION/SHIPPING
    • 1193 21 Stronger computing power, better satellite technology giving airlines a clearer picture of flying conditions NYT [NEW YORK] Just a few years ago, airlines got their weather reports by telex. Pilots pored over reams of paper and compared the forecasts with their flight plans. Once
      NYT; BLOOMBERG FILE PHOTO  -  1,193 words
    • 715 21 Bloomberg [HONG KONG] China Rongsheng Heavy Industries Group Ltd, the private Chinese shipbuilder whose woes made it a symbol of the country’s credit binge, confirmed the government is studying a possible restructuring of its Jiangsu unit. The maker of bulk carriers and oil
      Bloomberg  -  715 words
    • 217 21 Xinhua [BEIJING] Chinese shipbuilding companies received more orders but saw shrinking profits in the first seven months of this year, according to the latest data issued by the China Association of National Shipbuilding Industry (Cansi). As the industry sails into the choppy seas
      Xinhua  -  217 words
    • 320 21 Plan aims to expand Al-Maktoum International Airport within 8 years AFP AFP [DUBAI] Dubai has relaunched an ambitious project to develop its second airport, touted originally as the world’s largest, to handle 120 million passengers a year. The plan aims to expand Al-Maktoum
      AFP AFP  -  320 words
    • 237 21 SGX '000 Sep 08 S$ +/-Vol Ch Offshore '000 Chuan Hup Hldg 0.29 -0.01 11 s$ Cwt Limited 1.75 unch 247 Vol First Ship Lea Grand Banks unch unch 0 Jaya Hold Ltd 0.06 unch 5411 K1Ventures 0.19 unch 310 Keppel Corp 10.80 -0.03 2065 Mercator Lines..........unch unch
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  • Page 21 Advertisements
  • Page 21 Miscellaneous
    • 360 21 CRYPTIC CROSSWORD Across 9 Independent lawyer with house in US state (5) 10 Grasp, by the sound of it, piece of cake and cocktail (3,6) 11 Slip around wingless bird and tall creature (7) 12 Gear about to be kept by a quiet companion (7) 13 Person giving little away
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  • EDITORIAL & OPINION
    • 1682 22  -  To improve its query system’s effectiveness, SGX should further review the system and consider timely disclosure of all its queries By MAK YUEN TEEN The writer is an associate professor of accounting at the NUS Business School, where he teaches corporate governance and
      FILE PHOTO  -  1,682 words
    • 510 22 EDITORIAL THERE was a whiff of triumphalism in the air after a majority in the Australian Senate agreed to repeal the mining tax last week. Leaders in Prime Minister Tony Abbott’s Liberal-National Party coalition government evinced much glee at its demise. It was the
      510 words
    • 826 22  -  THE BOTTOM LINE PAUL KRUGMAN NYT NEXT week Scotland will hold a referendum on whether to leave the United Kingdom. And polling suggests that support for independence has surged over the past few months, largely because pro-independence campaigners have managed to reduce
      NYT  -  826 words
    • 1228 23  -  Current leaders should keep in mind countries’ 2,000-year history of peaceful coexistence when they meet in India By HARISH MEHTA The writer, a former BT senior correspondent, is a historian who has taught at Canadian universities INDIA and China can deservedly boast of a long
      PHOTO: AFP  -  1,228 words
    • 866 23  -  By CHUNG-SIM SIEW MOON The writer is partner and head of tax at EY in Singapore. The views are her own TAXES around the world are on the rise. But rather than raising taxes directly, economies are adopting other strategies to fill their
      FILE PHOTO  -  866 words
    • 900 23  -  By ANTONY PHILLIPSON, STEFFEN KOCH BENJAMIN DUBERTRET AROUND the world our governments are working together to make today, Sept 9, 2014, a Joint Day of Action on Climate Change. This involves a host of activities with a common message: the time to
      900 words


  • 1191 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
    • 81 24 Experienced ship maintenance findyou y r I services services wanted, heremthe Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 The Business Times I IIL UUJIIVLJJ I IIVILJ Shipping Times Legal services required by shippers owners TO ADVERTISE, CALL JOE WONG AT 9620 Can they find your services here
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  • SINGAPORE STOCKS
    • 3976 25 Transaction date: Sep 8 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 20 6.2 A-Sonic Aero Vol Day Last Quote Div Gr Yld 10.4 4.3 AEM M Cap 14.2 6.7 AIMS
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    • 438 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 32.5 25 t 3Cnergy 500 Last Vol Day Last Quote Div Gr Yld Ne 43.5 28 t Alliance Mineral................................33.5 +1 1200 33.5 33 33.5
      438 words
    • 10821 26 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** Aberdeen Asset Mgt Asia Limited APS Alpha Fund (USD)!** 1.28/ Aberdeen Asset Mat Asia Limited 1.0142/ 2 1592/ China Opportunities'* 3 0722/ China Opportunities USD!** Global Emerging Markets USD Global Opportunities USD India Opportunities USD!**
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    • 232 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 Company Last 343 250 TanChongInt HK305cd 303 309 9.7 3.4 3 6142.4 DISCLAIMER: All information is published “as is” without warranty of any kind and for information
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    • 1105 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 $mil 118 108.3 ABF SG Bond ETF 117.5 +0.5 5 117.5 117.5 117 117.5 536.4 139.4 119 CIMB APAC Div 100S$D 139.4cd +0.2 10 139.4 139 136.9
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  • FINANCE & COMMODITIES
    • 654 27 Sep 8 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.13 *****.33 *****.40 Sep14 *****.00 *****.00 *****.00 *****.00 *****7 *****9 Dec14 *****.00 *****.00 *****.00 *****.00 5952 ***** MSCI TAIWAN INDEX FUTURES SPOT 345.39 345.56 341.42 Sep14 342.60 343.70 341.10 ***** *****6 Oct14 341.80 342.50
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    • 373 27 In local curr In S$ In US$ dy yr dy yr dy yr Sep 5 Index Change Change Change Change Change Change World Preliminary 1258.6 -0.1 6.3 -0.3 4.3 -0.2 5.1 EAFE Preliminary 986.6 -0.3 3.2 -0.4 -0.2 -0.4 0.5 Europe Preliminary 1412.7 -0.2 4.3
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    • 471 27 Sep 8 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.020 5.745 0.723 7.251 56.367 109.698 0.984 9.582 2.968 1.124 95.426 40.746 1.173 10.056 0.872 27.973 29.956 0.578 0.936 Canada 0.981 5.633
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    • 37 27 Sep 8 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) 1 mth 1 mth 3 mths 6 mths 6 mths Source: Thomson Reuters
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    • 78 27 Sep 8 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 1-Year BY*****S 02-May-15 0.34 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 106.39 5-Year NX*****W 2.5 01-Jun-19 105.1 105.20 105.15 10-Year NY*****H 3.000 01-Sep-24 105.88 106.00
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    • 120 27 Sep 08 GOLD(US$/oz) Sep 08 Sep 05 Hong Kong 1271.00 1269.00 Sep 05 Sep 04 London 1266.42 1269.19 1266.91 1269.73 Source: Thomson Reuters CAST BAR Sep 08 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 78 49 5gm 308 253 10gm 573 509
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    • 57 27 Sep 8 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 14 2070.0 2041.0 2076.0 2050.0 45 1712 Oct 14 2055.0 2039.0 2077.0 2037.0 3748 ***** Nov 14 2046.0 2025.0 2068.0 2027.0 ***** ***** Dec 14 2078.0 2057.0
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    • 156 27 Sep 8 Sep Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1729 1.1739 0.9353 0.9358 Canadian dollar 1.1501 1.1510 0.9176 0.9172 Euro 1.6228 1.6236 1.2941 1.2943 NZ dollar 1.0433 1.0440 0.8320 0.8323 Sterling pound 2.0277 2.0289 1.6170
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    • 121 27 As at 9am Sep 08 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.201 1.144 Can dollar 1.173 1.128 Euro 1.662 1.583 Sterling pound 2.073 1.994 NZ dollar 1.068 1.027 US dollar 1.278 1.218 Local dollars to 100 units of foreign
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    • 158 27 Sep 8 $S Offer Bid 0vernight 0.05 0.01 1-month 0.3125 0.1875 2-months 0.3750 0.2500 3-months 0.4375 0.3125 Overnight mode: 0.08 US$ Offer Bid 7 days 0.18 0.08 1 month 0.25 0.15 2 months 0.30 0.20 3 months 0.40 0.20 6 months 0.50 0.30 9 months 0.60 0.40 12
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    • 109 27 Sep 5 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Sep 14 1085.50 1064.25 1088.75 1068.50 Nov 14 1021.50 1003.25 1022.75 1002.25 Jan 15 1028.25 1010.75 1029.50 1010.00 Mar 15 1035.00 1018.50 1036.00 1019.00 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Sep 14
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    • 95 27 Sep 5 COCOA (£/tonne) Close Prev High Low Sep 14 1997 1997 2004 1986 Dec 14 1983 1994 1999 1975 Mar 15 1954 1966 1970 1945 May 15 1944 1955 1959 1936 COFFEE(US$/tonne) Close Prev High Low Sep 14 2061 2069 2075 2056 Nov 14 2079 2091 2100 2067
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    • 982 27 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 4.7 0.3 1 -55 3.67 46 Asia-Pacific Strategic W*****6 3.4 unch 3700 1 2 56 Acma Ltd W*****7 0.3 unch 202 1 4 115 6.67 22 Exer Ascendas
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    • 70 27 CRUDE OIL PRODUCTS Sep 05 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 101.18 -1.34 WTI (Near Mth) 93.40 -1.11 Dubai (1-Mth F) 100.58 -0.63 Tapis blend 104.26 -0.27 Minas 99.76 -0.27 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 97.56 -0.33 Jet Kerosene 116.10 -0.35 US$/barrel OpecOil Basket
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    • 22 27 Sep 8 S$ Bid Offer 1-month 1.2540 1.2544 2-months 1.2540 1.2544 3-months 1.2540 1.2544 6-months 1.2539 1.2543 Source: OCBC
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    • 66 27 Sep-05 Sep-05 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2066.00 2083.75 3 months 2093.00 2105.00 Copper, Grade A(US$/tonne) Cash 6991.75 6948.50 3 months 6975.00 6930.00 Lead(US$/tonne) Cash 2188.75 2213.25 3 months 2204.00 2226.00 Nickel (US$/tonne) Cash *****.50 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
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  • PROPERTY
    • 514 28 Focus of expansion in 3-5 years are Vietnam, Philippines, Myanmar: Riady Reuters [SINGAPORE] Indonesian conglomerate Lippo Group is looking to invest up to US$5 billion in healthcare, food retailing and telecoms mainly in the Philippines, Vietnam and Myanmar over the next three
      Reuters; BLOOMBERG FILE PHOTO  -  514 words
    • 328 28 Bloomberg [BOSTON] Harvard University received a record donation of US$350 million for its public health school from the family foundation of real estate developers Gerald and Ronnie Chan of Hong Kong-based Hang Lung Group. The gift from the Chan brothers’ Morningside Foundation is focused
      Bloomberg  -  328 words
    • 680 29  -  But that doesn’t mean the market has turned around, warn analysts By LEE MEIXIAN leemx@sph.com.sg @LeeMeixianBT [SINGAPORE] Resale prices of non-landed private homes rose a slight 0.4 per cent in August, compared to July, but analysts say this cannot be construed
      FILE PHOTO  -  680 words
    • 759 30  -  Ashish Manchharam to set up boutique property investment firm; Tang Wei Leng joins on Nov 1 By KALPANA RASHIWALA kalpana@sph.com.sg @KalpanaBT [SINGAPORE] JLL’s top investment sales broker Ashish Manchharam is leaving the group to set up his own boutique property investment outfit. Meanwhile,
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  • Page 28 Advertisements
    • 759 28 Japan Investment Opportunities Japan Business Development Unit (JBD) A collaboration between OrangeTee and Tokyu Livable, Inc., Japan Across all major cities such as Tokyo, Osaka, Nagoya, Kyoto, Fukuoka, Sendai, Hiroshima and Sapporo Opportunities in all asset classes: commercial, retail, residential, hotel, etc. OrangeTee. MSSU/C3X, www.orangetee.com I www.livable.biz/english Income producing assets
      759 words
    • 94 28 Industrial Properties, Malaysia 8 '<■ Bsavills For Sale Iskandar Freehold Factories 10-Min from Second Link Good Layout. Size: 13,000 sq ft 42,000 sq ft Semi-Detached Detached Factory Near Commercial Lifestyle Amenities Dominic Peters 9825 2101 CEA Reg. No. R*****1G Open for Registration of Interest iBP Nusajaya, Freehold Factories Freehold, World-class
      94 words
    • 19 28 Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices
      19 words

  • Page 29 Advertisements
    • 511 29 C Galven Tan (CEAReg No.: R*****1F) Tel: 9799 4898 PRUDENTIAL TOWER Prime CBD Office Floors For Sale! Landmark 30-storey office building Grade-A quality specification Covered access to Raffles Place and Telok Ayer MRT Spacious car drop off point Double-storey height modern lobby Regular layout and column-free floor plate for design
      511 words

  • Page 30 Advertisements
    • 190 30 wk w m Rl h *s L iri v fitds Hi mm- ■*»■> v, V- I i--s f- ..v. M m.■v. SR55S V <3 <y" <v 8 ■<* cutting through complexity KPMG 15 th Global Real Estate Construction Conference Marching to a new beat Join KPMG and other leading global
      190 words
    • 327 30 For Lease Robinson Point Flexible sizes Fitted /Bare 1,294 sqft/1,594 sqft/2,400 sqft/4,100 sqft/7,556 sqft Great sizes Fitted /Bare 8,288 sqft/16,576 sqft/24,132 sqft/31,688 sqft High floor with unblock view Beautifully fitted/bare units with regular layout Proximity to amenities and ample parking spaces Short distance to four MRT stations Call8338 2466/ 9236
      327 words