The Business Times, 4 December 2012
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2012-12-04
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The Business Times
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Title Section25 2012-12-04 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg Sp!l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Tuesday, December 4, 201225 words
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Article, Illustration678 2012-12-04 1 VEN SREENIVASAN - Delta said to be in talks to buy SIA’s 49 per cent stake in Branson-controlled carrier By VEN SREENIVASAN [SINGAPORE] A 13-year marriage that started happily enough but soon deteriorated into an unhappy coexistence could soon end in divorce: Singapore Airlines (SIA) is said678 words
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MARKETS DIGEST
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Article65 2012-12-04 1 HST INDEX 3,065.74 (-4.21) HST INDEX FUTURES 3,058.00 (-4.00) HSIMSCI 348.15 (-1.55) HSIMSCI FUTURES 347.70 (-0.80) US$ S$ US$ (S$ per US$) 1.221 (US$/S$ per 1.604 1.958 EURO (US$/S$/€) 1.304 1.591 Foreign currency per US$ S$ YEN 82.30 67.40 RM 3.042 2.492 HK$ 7.750 6.349 BAHT 30.66 25.12 RUPIAH65 words
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Article48 2012-12-04 1 Monday Change KL COMP 1,607.35 -3.48 NIKKEI 225 9,458.18 +12.17 HANG SENG 21,767.85 -262.54 SET INDEX 1,332.92 +8.88 JAKARTA COMP 4,302.44 +26.30 MANILA COMP 5,672.70 +32.25 SEOUL COMP 1,940.02 +7.12 SHENZHEN B 599.38 -8.71 MUMBAI IND 19,305.32 -34.58 11am EST Change DOW 12,997.90 -27.68 NASDAQ 3,012.46 +2.2248 words
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Article17 2012-12-04 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.410 TAIWAN 5.036 JAPAN 1.475 Source: Bloomberg17 words
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Article, Illustration1134 2012-12-04 1 JOYCE HOOI - Temasek to soak up all rights not taken up by shareholders By JOYCE HOOI [SINGAPORE] Olam played its Temasek trump card yesterday against the onslaught by short-sell research firm Muddy Waters, unveiling a rights issue that will raise up1,134 words
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Page 1 Advertisements
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Advertisement210 2012-12-04 1 SME Inc Apt app for cleaning, security firms PAGE 12 PROPERTY Park Hotel Group to run hotel in Little India PAGE 28 PRODUCTIVITY MATTERS Healthcare: Improving quality, cost and delivery page 13 Jim Rogers gets first board seat in SGX firm I PAGE 4 8 8871 81 *****4 Exclusively available210 words
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TOP STORIES
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Article320 2012-12-04 2 SIA-Virgin marriage on the rocks SINGAPORE Airlines is said to be ready to offload its 49 per cent stake in Richard Branson-controlled Virgin Atlantic. Delta, the second-biggest airline in the United States by revenue, is said to be in talks to buy SIA’s stake. FRONT PAGE Olam unveils320 words
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687 2012-12-04 2 TEH SHI NING - But unresolved US fiscal cliff, eurozone uncertainty remain risks: economists By TEH SHI NING [SINGAPORE] Asia’s economic activity appears to be picking up again but any reassurance of a solid growth recovery will have to be tempered by risks of an unresolved687 words
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512 2012-12-04 2 But state-led investment remains the main driver, not the private sector Reuters [BEIJING] The pace of activity in China’s vast manufacturing sector quickened for the first time in 13 months in November, a survey of private factory managers found, adding to evidence thatReuters - 512 words
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Article, Illustration660 2012-12-04 4 LYNN KAN - ‘Commodity King’ joins recently listed Geo Energy as non-exec director By LYNN KAN [SINGAPORE] Septuagenarian “Commodity King” Jim Rogers has found the first board seat in a Singa-pore-listed company that he would like to keep warm. He was yesterday namedPHOTO: ARTHUR LEE - 660 words
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Article, Illustration472 2012-12-04 4 NISHA RAMCHANDANI - By NISHA RAMCHANDANI [SINGAPORE] Eighty-nine people were injured yesterday morning in Jurong Shipyard after the jack-up rig that they were working on listed. Of those hurt, 80 had been discharged from hospital by 8pm after receiving treatment for minor injuries,PHOTO: MOM - 472 words
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574 2012-12-04 4 Construction spending jumps almost three times more than forecast in Oct LATEST US DATA Bloomberg [WASHINGTON] Manufacturing in the United States unexpectedly contracted in November, reflecting weaker business demand, slower exports and disruptions from superstorm Sandy. The Institute for Supply Management’s (ISM) factory index decreasedBloomberg - 574 words
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843 2012-12-04 4 Govt adjusts start point of deadlines to STB order date [SINGAPORE] Developers who buy residential en bloc sale sites are getting more time to meet the government’s deadlines to finish developing their sites. This is to take into account the time taken843 words
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Advertisement132 2012-12-04 2 MEMORABLE EXPERIENCE OF TOGETHERNESS Save up to $5,000 per group* ■0 i V M V .w aV 5/iare multicultural experiences together and strengthen team spirit and relationships injour next company event with Club Med All-Inclusive Package ALL-INCLUSIVE PACKAGE Twin share accommodation All-day Dining with a buffet style and gourmet cuisine132 words
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Advertisement166 2012-12-04 3 i r j £6L w/ r. Sr CD (o 4 lA ra N V x N, v x 1 I "S'" 12 /''A s s o i 4* < Ji jrofessiqJ A 12 7/ < 60 c i e a 3 4 5 B 30 0 w. CO-AXIAL CHRONOMETER 600166 words
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Advertisement126 2012-12-04 5 WHAT CAN BE WITNESSED IN THE BLINK am EYE? THE NEW CONTINENTAL GT SPEED m .M A n k GT SPEED i -i v 5 YEARS WARRANTY 5 YEARS MAINTENANCE It is undoubtedly the fastest production car ever built by Bentley. An icon of the celebrated Continental stable, the GT126 words
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Advertisement200 2012-12-04 6 LINK@AMK YOUR LINK TO BETTER BUSINESS X), B t i Til m ‘•a sil ■S -i SR? 0® sr r* £5 I < Artist s Impression A STRATEGIC LOCATION PRIMED FOR SUCCESS NEW BUSINESS 1 INDUSTRIAL DEVELOPMENT SELETAR AEROSPACE PARK Ground Floor Warehouse Units with Full Glass Frontage Direct Access200 words
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COMPANY NEWS
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Article, Illustration423 2012-12-04 6 MINDY TAN - Trust to acquire 19-storey premium office building at 60 Anson Road By MINDY TAN MARKING its maiden acquisition since listing in April last year, Mapletree Commercial Trust (MCT) said it has entered a conditional sale-and-purchase agreement to acquire Mapletree Anson a 19-storey premium office423 words
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331 2012-12-04 6 Japan’s largest public real estate trust has 30 properties worth US$2.6b Reuters [TOKYO] GLP J-Reit, a real estate trust set up by Singapore’s Global Logistic Properties Ltd, will sell as much as 111 billion yen (S$1.7 billion) worth of sharesReuters - 331 words
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431 2012-12-04 6 CARINE LEE - By CARINE LEE IT IS time for investors to pull back from Reits, says CIMB, even as other research houses continue to back the sector. The research house downgraded the sector to underweight from overweight on the grounds of its poor risk-reward at431 words
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Article, Illustration508 2012-12-04 9 ONG CHOR HAO - It is looking into letting drivers encash their unpaid leave By ONG CHOR HAO SMRT has taken a series of actions in response to the concerns of drivers from China (PRC) who had gone on an illegal strike last week and has508 words
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376 2012-12-04 9 LYNN KAN - Its unit will build an offshore jack-up rig for Explorer I By LYNN KAN MERCHANT vessel builder Yangzijiang Shipbuilding Holdings has finally reeled in its first offshore vessel contract, two years after it bid for a stake in Singapore’s PPL Holdings to acquire rigbuilding capabilities. Its376 words
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806 2012-12-04 9 Bloomberg [SINGAPORE] Olam International Ltd, whose shares have fallen 9.5 per cent since short seller Carson Block said that it might fail, sued him for defamation two days later. He responded with a 133-page report that called the commodity trader an emperor with no clothes.Bloomberg - 806 words
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Article, Illustration572 2012-12-04 10 KENNETH LIM - S’pore has to create robust society that supports whistle blowers: experts By KENNETH LIM A KEY international accounting body will begin debating whether to require auditors to notify the authorities about suspected illegal acts, said International Ethics Standards Board for Accountants (IESBA)572 words
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Article224 2012-12-04 10 CHINA Farm Equipment Ltd’s controlling shareholder, Wang Shuping intends to make a voluntary conditional cash offer for the company at 28 cents a share. This values the farm machinery producer at about $67.8 million. Mr Wang controls around 87.71 per cent of China Farm224 words
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242 2012-12-04 10 TEO SI JIA - By TEO SI JIA OCBC Singapore has launched a mortgage insurance plan that returns all premiums to the customer if no claim is made at the end of the policy term. The Mortgage Protector Advantage will also return a surrender value of at least 40242 words
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267 2012-12-04 10 MINDY TAN - By MINDY TAN MULTI-FINELINE Electronix (MFLEX) and WBL Corporation have entered into a registration rights agreement to register all the shares held by WBL for resale. WBL holds 14.8 million shares in MFLEX, which gives it a beneficial ownership of about267 words
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618 2012-12-04 10 Bloomberg [NEW YORK] Corporate bond sales are within striking distance of the annual record of US$3.9 trillion as borrowers take advantage of borrowing costs at all-time lows and investors view the world economy in its best shape in 18 months. Chevron Corp,Bloomberg - 618 words
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Article378 2012-12-04 10 ShareInvestor A SUBSIDIARY OF Sfh Goodland Delivered Record Net Profit Of $24.6M For FY2012 Goodland Group Limited, Singapore’s premier lifestyle property developer with niche focus on residential development projects, posted an 84% increase in revenue to S$56.0m while net profit rose 167% to a record high of378 words
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Page 7 Advertisements
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Advertisement244 2012-12-04 7 PATEK PHILIPPE GENEVE Begin your own tradition. 'V 3“ D- < T3 3“ 7T II =r "U "T3 cr K i o 2 t* u family-owned watch company, we are committed to restoring and maintaining all our watches. Including those made in 1839” The master watchmakers in our International Customer244 words
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SINGAPORE MARKETS
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Article, Illustration595 2012-12-04 8 R SIVANITHY - Market turnover falls to a mere $1.1 billion from $2.4 billion as ST Index drops four points STOCKS R SIVANITHY Senior Correspondent THE Straits Times Index (STI) rose 24 points on Friday and gained 80 points in total last week, so perhaps yesterday’s 4.21-point dropSource: Bloomberg - 595 words
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Article72 2012-12-04 8 Dec 3 VALUE CLOSE BT OB/OS 347.00 -119.00 BT CADI -*****.00 -63.00 BT 10-day MA -*****.00 +35.00 FTSE ST Mid Cap 749.93 -2.33 FTSE ST Small Cap 490.16 +0.15 FTSE ST All Share 750.48 -1.20 FTSE ST China Top 200.39 -0.88 FTSE ST China 223.75 -0.75 FTSE72 words
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Article186 2012-12-04 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 9 4 0 0 0 4 9 4 Manufacturing 38 47 42 6 7 7 44 54 49 Commerce 19 22 18 1 2 3 20 24 21 Tpt/Stor/Comms 7 22 10186 words
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Article, Illustration942 2012-12-04 8 KENNETH LIM - Compiled by KENNETH LIM UE E&C Dec 3 close: $0.625 OCBC Investment Research, Dec 3 GOING into a new year, we expect the outlook for UE E&C to be fairly mixed. While the group has a strong order-book (estimated at $400 million) and a good pipeline of residentialSource: Bloomberg - 942 words
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Article121 2012-12-04 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 16,232 16,232 62,251 62,251 Manufacturing 215,575 372,487 588,062 199,641 4,079 203,719 Commerce 162,036 6,914 168,950 114,717 241 114,958 Tpt/Stor/Comms 89,638 13,970 103,608 154,638 4,248 158,886 Finance 52,767 1,564 54,331 116,285 635 116,920 Construction 44,619 294,906121 words
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Article110 2012-12-04 8 Stock name Close Change CapMallsAsia 1.940 +0.020 CapitaLand 3.510 -0.020 CapitaMall 2.050 -0.020 CityDev 11.720 ComfortDelGro 1.675 -0.045 DBS Grp 14.380 -0.070 F&N 9.400 -0.020 GLP 2.770 -0.040 Genting SP 1.240 -0.040 Golden Agri 0.665 +0.005 HK Land 6.500 -0.040 IHH Healthcare 1.285 -0.015 JMH 60.970110 words
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Article, Illustration474 2012-12-04 8 CURRENCIES Bloomberg [LONDON] The euro yesterday rose to a six-week high against the US dollar as a Greek offer to spend as much as 10 billion euros (S$15.9 billion) buying back government securities to cut its debt load boosted demand for the sharedBloomberg; PHOTO: BLOOMBERG - 474 words
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Article53 2012-12-04 8 VOLUME YHM 292,730,000 CPH 211,189,000 Yoma 67,456,000 ICP 67,024,000 Golden Agri 62,413,000 Noble Grp 52,307,000 ChinaTitan 51,603,000 Transcu Grp 49,558,000 Innopac 43,058,000 Armarda 42,686,000 VALUE($) SingTel 87,110,788 Noble Grp 55,762,080 Yoma 46,217,345 SembMar 44,981,155 Golden Agri 41,362,595 DBS Grp 39,713,614 UOB 37,992,947 Wilmar 36,558,460 Genting SP 33,425,90553 words
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Article116 2012-12-04 8 BY CENTS CLOSE UP JMH 6097 238.0 3.3 DBXT MSTaiwan 10US$ 1826 148.9 7.2 JSH 3495 113.5 2.7 DBXT Nifty 10US$ ***** 59.8 0.4 DBS Bk 4.7% NCPS 100 ***** 50.0 0.5 IS LC BND 100US$ 1067 34.2 2.7 DBXT iBoxxSing 5SG$ ***** 25.0 0.2 IS LC 1-3Y 100S$D116 words
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Article126 2012-12-04 8 BY CENTS CLOSE DOWN OCBC Bk 4.5%NCPS 100 ***** -263.0 -2.5 OCBC Bk 5.1%NCPS 100 ***** -227.0 -2.2 GLD 10US$ ***** -120.8 -0.6 Jardine C&C 4792 -87.0 -1.8 YHS 334 -58.0 -14.8 Lyxor China H 10US$ 1385 -35.4 -2.1 IS ASIA HYG100US$ 1114 -22.0 -1.6 IS ASIA HYG100S$D 1354126 words
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Page 9 Advertisements
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Advertisement114 2012-12-04 9 I CORUM LACHAUX-DE-FONDS SUISSE m m S n IRS ft 1 a o 7 r y 1 e s S. r\ i. Vv ADMIRAL’S CUP LEGEND Watch with tourbillon escapement, 18K red gold case water-resistant to 30 meters. Sapphire crystal back. CORUM automatic movement with micro-rotor. CORTINA WATCH ESPACE Millenia114 words
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Page 10 Advertisements
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Advertisement76 2012-12-04 10 ALL-NEW! An interactive, style-driven interior design website for homeowners and decor enthusiasts. homes Draw inspiration from over 2,400 pictures of real homes. mood board Store your renovation ideas online, and share them via social networks. Two things going for this bedroom: that gorgeous canopy, and the cool grey stripes. promotions76 words
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Advertisement277 2012-12-04 10 Magic of Dynamic TA Chart Most technical charts comes with technical indicators such as MACD and Stochastics, which will help traders determine if it is a good time to buy or sell their shares. Basic drawing tools are also readily available in the technical charts for stock analysis. In addition277 words
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SINGAPORE NEWS
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693 2012-12-04 11 GRACE LEONG - Court rules same interest or common grievance element is missing from case By GRACE LEONG A REPRESENTATIVE or class action lawsuit by more than 200 ex-mem-bers of the former Sijori Resort Club at Sentosa over breach of contract claims was discontinued693 words
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Article, Illustration625 2012-12-04 11 FELDA CHAY - By FELDA CHAY IT was a simple invitation, sent via e-mail, to CEOs to sample local hawker food and share views on favourite stalls but boy, did it make an impact. Close to 100 guests made their way to UBS Singapore’s staff lounge on the 49thPHOTO: YEN MENG JIIN - 625 words
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371 2012-12-04 11 TEO HOONG CHEN - By TEO HOONG CHEN ASIAN financial centres such as Singapore and Hong Kong are going to be where career opportunities in finance will be, as the business world shifts east, the Centre for Economics and Business Research (CEBR) has said. Finance-sector371 words
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SINGAPORE ROUNDUP
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55 2012-12-04 11 THE Institute of Service Excellence at Singapore Management University (ISES) signed a memorandum of understanding with the Institute for Strategic Innovation and Services (ISIS) of France’s ESSEC Business School yesterday to jointly develop executive education programmes, teaching and research information exchanges and the55 words
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50 2012-12-04 11 A RESIDENTIAL site on Bishan Street 14 has been awarded to Allamanda Residential Development, a 75:25 joint venture (JV) by CapitaLand Residential Singapore and Mitsubishi Estate Asia, for $505.1 million. The site is expected to be developed into a condominium with about 700 units.50 words
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42 2012-12-04 11 LOGISTICS firm SDV, a subsidiary of French conglomerate Bollore Group, opened its “green hub” warehouse in Pioneer Turn in Jurong yesterday. Its warehouse is the first to earn a Green Mark Platinum award for environment-friendliness.42 words
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440 2012-12-04 11 RONNIE LIM - Firm recruiting project engineers, selecting contractor By RONNIE LIM WITH more countries legislating the use of “greener”, Euro IV specification petrol including Singapore from October next year Singapore Refining Company (SRC) is gearing up to start cracking shortly on its planned US$500 million440 words
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Page 11 Advertisements
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Advertisement29 2012-12-04 11 Singapore’s Leading Chinese Watch and Jewellery Magazine A PUBLICATION OF ICON TTF iu v> •A 3:3 rv Vi OUT NOW AVAILABLE AT KINOKUNIYA, MPH, PROLOGUE, TIMES BOOKSTORES sPHmagazines 2012/201329 words
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SME Inc
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Article, Illustration1336 2012-12-04 12 LISA-ANN LEE - Innovez Solutions’ iREP can help companies shorten response times and improve employee productivity, reports LISA-ANN LEE reports LISA-ANN LEE A PICTURE, as the saying goes, is worth a thousand words. For the labour-crunched cleaning and security industries, it can also help shorten response times and improvePHOTO: ARTHUR LEE - 1,336 words
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Article, Illustration1004 2012-12-04 12 STEVE WYATT - Engage SMU profs STEVE WYATT The writer is executive director for executive development at the Singapore Management University, an affiliate faculty of management practice, and co-author of the book, ‘Connectivate’ Question: What is ‘connectivation’? How can SMEs leverage technological and analytical breakthroughs to1,004 words
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Page 12 Advertisements
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Advertisement154 2012-12-04 12 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 with154 words
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PRODUCTIVITY MATTERS
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Article, Illustration1778 2012-12-04 13 NISHA RAMCHANDANIreports - The sector is leveraging on productivity by boosting infrastructure and growing and training the workforce. NISHA RAMCHANDANI reports HEALTHCARE RAMCHANDANIreports NISHA RAMCHANDANIreports Faced with an increasing demand for services and a shortage of labour, Singapore’s healthcare sector is leveraging on productivity to transform the quality,PHOTO: NUH; FILE PHOTO - 1,778 words
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MALAYS IA/IN DON ESI A
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538 2012-12-04 14 PAULINE NG - First phase includes a luxury clubhouse, commercial tower and shopping mall By PAULINE NG in Kuala Lumpur CHINA’S Country Garden Holdings Co Ltd is planning a major integrated waterfront development on 22.2 hectares of land in Johor’s Danga Bay with an estimated gross538 words
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Article, Illustration552 2012-12-04 14 S JAYASANKARAN - By S JAYASANKARAN in Kuala Lumpur WITH only about five months to go before a general election (GE) must be called, the Malaysian equity market is likely to drift downwards as funds resort to risk-averse action. In a report released last FridayPHOTO: BLOOMBERG - 552 words
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372 2012-12-04 14 Reuters [JAKARTA] Indonesian exports fell a bigger-than-expected 7.61 per cent in October from a year earlier, suggesting that the weak external sector would continue to weigh on South-east Asia’s largest economy in the fourth quarter. Imports jumped 10.82 per cent on anReuters - 372 words
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287 2012-12-04 14 [KUALA LUMPUR] Tiger Synergy Bhd’s on and off, and possibly hostile takeover, is expected to come to a conclusion this week, people familiar with the matter said. The market has been speculating for weeks now if the two new major shareholders, namely the287 words
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207 2012-12-04 14 It will allow 3rd LNG liquefaction train at Tangguh project AFP [JAKARTA] The Indonesian subsidiary of British oil giant BP yesterday said that a US$12.1 billion deal to expand its liquid natural gas operations in the country had been given final approval. TheAFP - 207 words
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Page 14 Advertisements
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Advertisement36 2012-12-04 14 klSS92m All the great songs in one place m ank frfesr I* ut*rr* nn r CATCH THE NISSAN KISS 92 KISS MOBILE TUNE IN TO KISS 92 TO FIND OUT WHERE WE’LL BE! kiss92.sg facebook.com/kiss92fm @kiss92fm36 words
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Advertisement337 2012-12-04 14 QI7ZLING POLE DANCE performance orchard Road Shenton Way! GOT A PHOTO OR VIDEO? SHOW US GET REWARDED! Details gosocial.omy.sg a S33UON &LVW jSiv HOTEL SHPG rtd Alexandra r/ 7 x Saf ra. re tail/supermw 3 sty F&8 tags. upermw good fron1 is not actual 5, F&R/RF I CXD/ IILr SUPERMARKET337 words
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PRIVATE EDUCATION
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Article, Illustration1217 2012-12-04 15 LEE U-WEN - Students nowadays seek non-academic learning opportunities to acquire soft skills that are needed in the workplace, reports LEE U-WEN reportsLEE LEE U-WEN SUMMER school in the United States. Internships in Nepal. Exchange programmes in London. Attachments with well-known multinationals both at home and abroad. While suchFILE PHOTO - 1,217 words
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Page 15 Advertisements
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Advertisement46 2012-12-04 15 Global Development starts with industry-relevant training and an education that nurtures students’ aspirations for success. ii friiE m V f Victor Liew Member, SIM Governing Council JF B9 Members of The SIM Group GLOBAL EDUCATION li SIM il, siM I 5 cm icatiom SIM W www.simge.edu.sg46 words
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GREATER CHINA/INDIA
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Article, Illustration614 2012-12-04 16 Defeat in vote would embarrass govt and increase pressure on it to roll back policy Reuters [NEW DELHI] India’s stuttering economic reform programme faces a key parliamentary test this week on whether to let foreign supermarket chains such as Wal-Mart Stores set upReuters; PHOTO: AFP - 614 words
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268 2012-12-04 16 Bloomberg [HONG KONG] China’s plan to cut merchant fees for bankcard transactions may increase credit risk at the country’s banks if they increase lending to offset the reduction, Moody’s Investors Service said. The cuts, which start on Feb 25,Bloomberg - 268 words
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438 2012-12-04 16 Reuters [BANGALORE] India’s manufacturing sector beat the expectations of economists to grow at its fastest pace in five months in November, boosted by strong export orders and a surge in output, a business survey showed yesterday. The HSBC manufacturing Purchasing Managers’ Index (PMI),Reuters - 438 words
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305 2012-12-04 16 AFP [BEIJING] China’s ruling elite should be forced to disclose their assets, according to proposals put to the new anti-corruption czar, it was reported yesterday as news of another graft scandal broke. Pressure on the Communist Party to combat corruption has intensified afterAFP - 305 words
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606 2012-12-04 16 YONNEX LI - Fierce rally rekindles debate over reform of trading range By YONNEX LI EJ Insight [HONG KONG] Widening the trading band further for the renminbi is not on Beijing’s agenda in the near future, economists and currency specialists say,EJ Insight - 606 words
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Page 16 Advertisements
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Advertisement229 2012-12-04 16 FUTURE i i t i i i i t i f CHINA ADVANCED LEADERS PROGRAMME Up your China-quotient and join us on this experiential journey now! www.futurechina-alp.sg FC_ALP@businesschina.org.sg FAST TRACK TO BUSINESS SUCCESS IN CHINA Jointly conducted by Business China and Nanyang Business School, 'At|; the Future China Advanced Leaders229 words
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ECONOMY WATCH
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Article, Illustration967 2012-12-04 17 US firms on list rise to 171 from 159 while Chinese firms fall to 24 from 34 Bloomberg [NEW YORK] American companies are supplanting China from the world’s 500 biggest stocks faster than at any time in the past decade, asBloomberg; PHOTO: AP - 967 words
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Article, Illustration626 2012-12-04 17 ANTHONY ROWLEY - Easing must not risk economic growth, financial balance By ANTHONY ROWLEY in Tokyo BANK of Japan governor Masaaki Shirakawa took a defiant stance yesterday in the face of strong political pressure on the central bank to double its inflation target and print unlimitedPHOTO: BLOOMBERG - 626 words
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527 2012-12-04 17 Central bank expected to leave interest rate unchanged at 2.75% Reuters [BANGKOK] Thailand’s annual headline inflation rate was 2.74 per cent in November as food prices rose less than in October, which should give the central bank leeway to keep interest rates low orReuters - 527 words
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466 2012-12-04 17 Report adds urgency to talks on fighting climate change Reuters [SINGAPORE] Carbon dioxide emissions from industry rose an estimated 2.6 per cent in a weak global economy this year, a study released yesterday showed, powered by rapid emissions growth in China andReuters - 466 words
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Advertisement43 2012-12-04 17 Chongqing's new record in the making: actual Taiwanese investments in H1 this year reaches US$700 million reaches US$700 million ±DS %\\m Iff a z >jjh r 7C To subscribe, call 6388-3838 or go to sphsubscription.com.sg To subscribe, call 6388-3838 or go to sphsubscription.com.sg43 words
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WORLD
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Article, Illustration978 2012-12-04 18 House speaker ‘flabbergasted’ by ‘nonsense’ approach to solving the crisis AP [WASHINGTON] Political posturing by the White House and Republicans in Congress hit new heights over the weekend as the Obama administration laid out specifics of its plan for avoiding the looming “fiscal cliff”AP; PHOTO: REUTERS - 978 words
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920 2012-12-04 18 Work on reaching a solution seen starting after a week ANALYSIS Reuters [WASHINGTON] Watching the events of the past few weeks, you could have gotten the idea that the United States is not only going to slip from the “fiscal cliff”Reuters - 920 words
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Article, Illustration543 2012-12-04 18 AP [LONDON] Major multinational companies including Starbucks, Google and Amazon are guilty of immoral tax avoidance, a committee of British lawmakers said yesterday, while Starbucks announced that it is reviewing its British tax practices in a bid to restore public trust. Parliament’s publicAP; PHOTO: REUTERS - 543 words
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618 2012-12-04 18 Reuters [WASHINGTON] A surprising US energy production windfall puts the country at risk of ignoring the urgent need to transform its transportation sector to depend less on oil and more on electricity and natural gas, a high-profile group of chief executives andReuters - 618 words
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Article, Illustration898 2012-12-04 19 Bank may pay more than £290m in fines; announcement to be as early as next week Bloomberg [LONDON] UBS AG, Switzerland’s biggest lender, is close to agreements with US and UK regulators to pay more than £290 million (S$568 million) inBloomberg; PHOTO: REUTERS - 898 words
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402 2012-12-04 19 Bloomberg [ATHENS] Greece offered to spend 10 billion euros (S$15.9 billion) buying back bonds issued in a record restructuring earlier this year as the nation attempts to cut a debt load that may threaten future international aid. Greece asked investors to tender bondsBloomberg - 402 words
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524 2012-12-04 19 Put option may offer template for future issuance Reuters [LONDON] Junta de Castilla y Leon, rated Baa3 negative outlook by Moody’s, is set to issue the first public bond issue from a Spanish region in nearly eight months, in an unprecedented puttable format. SixReuters - 524 words
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Article, Illustration455 2012-12-04 19 [MADRID] Spanish telecoms group Telefonica may list 10-15 per cent of its Latin American arm in a move that could raise over 3.5 billion euros (S$5.5 billion) to cut debt and highlight strengths outside its crisishit home market. Europe’s biggest telecom companyPHOTO: REUTERS - 455 words
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406 2012-12-04 19 Bloomberg [BRUSSELS] The European Union (EU) said it will join the United States in missing next month’s deadline to legally implement an overhaul of Basel bank rules, as EU debate drags on over issues including banker bonuses, liquidity rules and leverageBloomberg - 406 words
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EDITORIAL & OPINION
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Article448 2012-12-04 20 EDITORIAL WHEN it comes to global aviation, perhaps the biggest surprise is the fact that the industry has not plunged into another crisis this year. Despite stubbornly high fuel prices, falling yields, cut-throat competition, an anaemic global economy and unpredictable weather, the aviation industry448 words
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Article, Illustration815 2012-12-04 20 DAVID MASON - THE BOTTOM LINE DAVID MASON The writer is a business communications consultant in the UK who spends several months a year in Singapore. He was a partner with Price Waterhouse Singapore for 18 years ACCORDING to my dictionary, a profession815 words
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Article, Illustration997 2012-12-04 20 J BRADFORD DELONG - Negotiation on breaking gridlock likely to begin only after nation goes over fiscal cliff 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 researchPHOTO: REUTERS - 997 words
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Article, Illustration1229 2012-12-04 21 BRANO KOLLAR - Given the economic climate, many companies are looking for shorter-term financial benefits and flexibility By BRANO KOLLAR The writer is head of business development, Aggreko Asia, a leader in temporary power generation and temperature control rental solutions THE current global financial crisis is consideredPHOTO: TREVOR TAN/ THE STRAITS TIMES - 1,229 words
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Article, Illustration815 2012-12-04 21 JOHN FOLEY - REUTERS BREAKINGVIEWS By JOHN FOLEY Reuters CORRUPTION is to China what bad weather is to Britain a source of constant complaint, and a fact of life. But the rise of the Internet and slowing growth mean China can’t continue along itsReuters - 815 words
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392 2012-12-04 21 Ee Teck Siew - LETTER TO THE EDITOR Ee Teck Siew SOON, the sprawling 1.92 million square foot Grandstand in Bukit Timah will be turned into a bustling lifestyle area with recreational, educational and food-and-beverage (F&B) outlets. A school cluster catering to children and aesthetic interests will392 words
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AVIATION/SHIPPING
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Article, Illustration659 2012-12-04 22 Industry groups say standoff in busiest US container ports costs US$1 b a day Reuters [LOS ANGELES] A national coalition of US business groups is urging an end to a strike at the twin California ports of Los AngelesReuters; PHOTO: REUTERS - 659 words
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Article255 2012-12-04 22 SGX '000 DEc 3 S$ +/-Vol CH Offshore 0.45 -0.01 113 Chuan Hup Hldg 0.25 -0.01 79 Cosco Corp 0.88 -0.02 ***** s$ First Ship Lea 0.12 unch 595 Freight Links 0.07 unch 410 Grand Banks unch unch 0 Jaya Hold Ltd 0.55 -0.01 594 K1Ventures 0.12 unch255 words
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189 2012-12-04 22 Bloomberg [HONG KONG] More than 100 Cathay Pacific Airways Ltd flight attendants staged a rally at Hong Kong Airport after the company said it will raise salaries about 2 per cent next year, less than the 5 per cent sought by the workers’Bloomberg - 189 words
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Article, Illustration641 2012-12-04 22 Bloomberg [MUMBAI] Record debt expenses are prompting India’s largest listed airlines to weigh their first stake sales to foreign carriers, taking advantage of policy changes unveiled as recently as in September. Jet Airways (India) Ltd is in discussions to sell sharesBloomberg; PHOTO: REUTERS - 641 words
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633 2012-12-04 22 Bloomberg [SINGAPORE] Carlyle Group LP and Tiger Group Investments’ ship fund is in talks about financing new vessels with five container lines as higher fuel prices spur demand for larger and more efficient ships. Yang Ming Marine Transport Corp and United ArabBloomberg - 633 words
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1906 2012-12-04 23 BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE n GLOBAL SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE CONVENTIONAL, BREAKBULK PROJECT Destination1,906 words
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Page 22 Miscellaneous
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Miscellaneous291 2012-12-04 22 CRYPTIC CROSSWORD Across 1 Breed for long stretch with speed (11) 9 Degradation of Herod in Galilee (7) 10 Shrinks from bullies boxing ears, oddly (6) 12 Dessert following recipe produces beams (7) 13 Feast on heads of sea and river fish (7) 14 Groove trailing street parade (5) 15291 words
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Page 23 Advertisements
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Advertisement34 2012-12-04 23 PLACE YOUR AD HERE The Business Times Shippii g times CALL JOE WOIN IG AT 9620 1327 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? II34 words
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Advertisement34 2012-12-04 23 Experienced ship maintenance findy h ou y r services services wanted. here m the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES I ML. UU JIMLJJ IIIVILJ Shipping Times34 words
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SINGAPORE STOCKS
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Article2864 2012-12-04 24 Transaction date: Dec 3 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company Last Sale Vol Day Last Quote (’000) High Low Buyer Seller 149.5 92.5 AIMSAMPIReit 142 -0.5 169 143.5 141.52,864 words
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Article216 2012-12-04 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 Last 4.6 1.3 t Advanced System 1.5 unch 1250 1.5 1.5 1.5 1.6 22.3 Vol Day Last Quote Div Gr Yld Net M Cap216 words
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Article8389 2012-12-04 25 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** AXA Wealth Mgt S'pore Pte Ltd APS Alpha Fund (USD)!** Aberdeen Asset Mgt Asia Limited AXA Wealth Mat S'pore Pte Ltd Aberdeen Asset Mgt Asia Limited Asian Local dcy SD Bond 0.9849/ China Opportunities 28,389 words
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Article193 2012-12-04 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 $mil Company 41.5 26 Genting HK US$ US31.5 -0.5 2200 32 31.5 31.5 32 2074.1 Sale 228 180 TanChongInt HK210 unch 18 210 210 210 217 4.3 3.3193 words
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Article946 2012-12-04 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 $mil 126 114.4 ABF SG Bond ETF 118 87 118 118 117.8 118 538.6 128.9 120.4 CIMB APAC Div 100S$D 125 127.2 127.6 105.5 95.8 CIMB APAC946 words
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FINANCE & COMMODITIES
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Article604 2012-12-04 26 Dec 3 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 9484.20 9525.82 9453.48 Dec12 9460.00 9535.00 9450.00 9450.00 *****5 *****1 Mar13 9445.00 9515.00 9445.00 9435.00 619 3555 MSCI TAIWAN INDEX FUTURES SPOT 274.19 275.40 272.77 Dec12 274.60 275.80 272.60 273.90 ***** *****5 Jan13 274.10604 words
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373 2012-12-04 26 In local curr In S$ In US$ dy yr dy yr dy yr Nov 30 Index Change Change Change Change Change Change World Preliminary 920.5 -0.1 10.9 -0.1 4.6 -0.1 11.1 EAFE Preliminary 751.1 0.1 10.1 0.1 3.7 0.1 10.2 Europe Preliminary 1133.0 0.0 10.4373 words
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Article, Illustration92 2012-12-04 26 As on 30 November 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE GOLD FUT FEB2013 1733.20 1713.20 1712.50 INDIA GOLD (E-GOLD) FUT FEB2013 579.40 574.70 576.90 CURRENCY EUR-USD FUT DEC2012 1.3030 1.2994 1.3001 BASE METAL COPPER FUT MAR2013 8022 7962 8045 INDEX IRON ORE (MBIO) IDX FUT NOV201292 words
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Article107 2012-12-04 26 Nov 30 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 13 1438.75 1448.00 1452.00 1429.00 Mar 13 1432.50 1441.00 1444.25 1422.00 May 13 1409.75 1418.50 1418.25 1399.50 Jul 13 1400.50 1408.25 1411.00 1389.50 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Dec 12 49.41107 words
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Article70 2012-12-04 26 CRUDE OIL PRODUCTS Nov 30 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 110.97 0.15 WTI (Near Mth) 88.87 0.98 Dubai (1-Mth F) 107.33 0.22 Tapis blend 115.54 0.85 Minas 108.82 0.85 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 103.5 0.5 Jet Kerosene 125.63 1.02 US$/barrel OpecOil Basket70 words
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Article22 2012-12-04 26 Dec 3 S$ Bid Offer 1-month 1.2204 1.2207 2-months 1.2204 1.2207 3-months 1.2204 1.2207 6-months 1.2203 1.2208 Source: OCBC22 words
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Article66 2012-12-04 26 Nov 30 Nov 30 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2094.00 2065.25 3 months 2094.00 2064.00 Copper, Grade A(US$/tonne) Cash 7978.75 7885.25 3 months 7995.00 7899.50 Lead(US$/tonne) Cash 2257.50 2222.50 3 months 2252.00 2222.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.00 *****.00 366 words
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Article78 2012-12-04 26 Nov 30 COCOA (£/tonne) Close Prev High/Low Dec 12 1593 1593 1599/1568 Mar 13 1586 1585 1593/1558 May 13 1592 1591 1594/1565 Jul 13 1599 1597 1599/1570 COFFEE(US$/tonne) Close Prev High/Low Nov 12 1933 1933 Jan 13 1914 1938 1932/1892 Mar 13 1920 1942 1936/1900 May 13 1933 195478 words
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845 2012-12-04 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 4 1 146 598 5.38 17 Conv Ratio Best World Intl Ltd W*****5 0.5 1 30 91 32.00 7 Price BiosensoMBeCW*****3 3.4 -0.4 260 0.4 140 6 Biosensors845 words
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Article470 2012-12-04 26 Dec 3 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.034 6.484 0.799 8.068 56.805 100.028 0.857 11.278 3.167 1.269 100.476 42.562 1.271 9.266 0.963 30.293 31.922 0.649 1.041 Canada 0.967 6.273470 words
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Article60 2012-12-04 26 Dec3 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 0.***** 3 mths 0.***** 6 mths 0.***** SWAP Mid rates (S$) 12 mths 0.***** SWAP Mid rates (S$)60 words
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Article134 2012-12-04 26 Dec 3 GOLD(US$/oz) Nov 30 Dec 03 Hong Kong 1738.20 1727.30 Nov 29 Nov 30 London 1726.40 1717.55 1727.20 1718.37 Source: Thomson Reuters CAST BAR Dec 03 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 152 68 5gm 431 338 10gm 770 675134 words
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Article86 2012-12-04 26 Dec 3 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****V 07-Mar-13 0.24 6-Month BS*****T 30-May-13 0.26 1-Year BY*****X 01-Nov-13 0.27 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0N 0.25 01-Oct-14 102 5-Year N*****0Z 2.375 01-Apr-17 108.4586 words
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Article57 2012-12-04 26 Dec 3 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 12 2139.0 2145.0 2139.0 2100.0 235 3159 Jan 13 2337.0 2302.0 2338.0 2236.0 3605 ***** Feb 13 2401.0 2370.0 2405.0 2314.0 ***** ***** Mar 13 2455.0 2424.057 words
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Article154 2012-12-04 26 Dec 3 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2703 1.2712 1.0409 1.0414 Canadian dollar 1.2293 1.2297 1.0074 1.0073 Euro 1.5908 1.5913 1.3035 1.3036 NZ dollar 1.0013 1.0022 0.8205 0.8210 Sterling pound 1.9576 1.9586 1.6041 1.6045154 words
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Article154 2012-12-04 26 Dec 3 $S Offer Bid 0vernight 0.15 0.10 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.10 US$ Offer Bid 7 days 0.22 0.12 1 month 0.30 0.20 2 months 0.40 0.20 3 months 0.45 0.25 6 months 0.65 0.45 9 months 0.80 0.60 12154 words
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Article121 2012-12-04 26 As at 9am Dec 03 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.302 1.24 Can dollar 1.256 1.197 Euro 1.623 1.546 Sterling pound 1.992 1.916 NZ dollar 1.034 0.976 US dollar 1.244 1.185 Local dollars to 100 units of foreign121 words
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PROPERTY
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Article, Illustration835 2012-12-04 27 Latter’s prices up 27% this year, with rents rising 6% as stores move in Reuters [SINGAPORE] Far from the madding crowds of Singapore’s glitzy shopping malls, Cynthia Neo runs a bridal boutique tucked away in a nondescript industrial building in an old housingReuters - 835 words
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447 2012-12-04 27 Bloomberg [SHANGHAI] The Chinese billionaire who plans a US$200 million property investment in Iceland said he’s not giving up on his plan even after it was thwarted a second time. Huang Nubo, chairman of Beijing Zhongkun Investment Group Co, saidBloomberg - 447 words
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420 2012-12-04 28 Bloomberg [SYDNEY] Global mall operators, Italian office property groups and owners of multifamily housing in the US are among the best property investments, according to Australian investment group AMP Capital Investors Ltd. Higher-quality mall operators including Syd-ney-based Westfield Group, Paris-based Unibail-Rodam-co SE and Indianapo-lis-based SimonBloomberg - 420 words
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Article, Illustration726 2012-12-04 28 KALPANA RASHIWALA - Owners RB Capital Hotels want the group to manage new 300-room hotel slated for completion in 2015 By KALPANA RASHIWALA RB Capital Hotels has appointed Singaporeheadquartered Park Hotel Group to manage a 300-room hotel that is is being developed above FarrerPHOTO: RB CAPITAL - 726 words
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Article, Illustration513 2012-12-04 28 ZEINAB YUSUF SAIWALLA - Carved out leases help in case needs in future change By ZEINAB YUSUF SAIWALLA FOUR properties owned by The Islamic Religious Council of Singapore (Muis) have been put up for sale by public tender last week. However, they are all being sold onPHOTO: FILE - 513 words
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295 2012-12-04 28 Bloomberg [SYDNEY] Australian retail property transactions rose 29 per cent in the nine months ended Sept 30 from a year earlier, as improving consumer confidence boosted prospects for rental growth, according to CBRE Group Inc. Some A$3.4 billion (S$4.32 billion) of retail properties changed handsBloomberg - 295 words
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500 2012-12-04 28 Bloomberg [SHANGHAI] China’s new home prices rose the most in four months as smaller developers marketed more projects amid interest from buyers concerned that prices will start rising again. Prices climbed for a sixth month, increasing 0.26 per cent to 8,791 yuanBloomberg - 500 words
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Page 27 Advertisements
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Advertisement263 2012-12-04 27 Freehold Strata Office Floors in Prime CBD > The Octagon «Strata area each floor 6,189 sq ft approx. 100m to upcoming Telok Ayer MRT (Downtown Line). Walking distance to Raffles Place and Tanjong Pagar MRT. Ideal for both owner-occupiers as well as investors; ,.•■1 1 Jill CUSHMAN '<■>« WAKEFIELD Global263 words
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Advertisement178 2012-12-04 27 KnightFrank.com.sg Large Site at Kovan Area for Lease Sale Large and regularly shaped site Site area approx 81,000 sq ft 103-year leasehold Residential, GPR 1.4 Existing premises for educational use Near Serangoon Kovan MRT stations Proximity to amenities such as Serangoon Stadium, Nex Shopping Mall Heartland Mall Please contact Investment178 words
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Advertisement261 2012-12-04 27 KnightFrank.com.sg Good Class Bungalow Holland Rise GCB Area Land area approx 27,000 sf, Freehold Elevated ground exclusive Potential to acquire adjacent sites Near Holland Village MRT station Expression of Interest Closing: 12 Dec 2012 (Wed) 3pm Mixed-use Redevelopment Site Balestier Road Thomson Rd MRT Novena Subject Site Balestier Rd Jln261 words
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