The Business Times, 13 December 2012
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2012-12-13
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The Business Times
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Title Section25 2012-12-13 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg Sp!l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Thursday, December 13, 201225 words
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881 2012-12-13 1 TEH SHI NING - Growth estimates for this year lowered further; next year’s growth pegged at 2.7% By TEH SHI NING [SINGAPORE] Slow growth and high inflation will continue into 2013 as Singapore presses on with restructuring towards produc-tivity-driven growth, economists say. The 21 professional forecasters881 words
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MARKETS DIGEST
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Article65 2012-12-13 1 GST INDEX 3,141.57 (+23.24) GST INDEX FUTURES 3,136.00 (+23.00) GSIMSCI 356.93 (+3.41) GSIMSCI FUTURES 357.00 (+2.20) us$ s$ US$ (S$ per US$) 1.221 (US$/S$ per 1.610 1.966 EURO (US$/S$/€) 1.301 1.588 Foreign currency per US$ S$ YEN 82.80 67.80 RM 3.054 2.501 HK$ 7.750 6.348 BAHT 30.63 25.08 RUPIAH65 words
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Article48 2012-12-13 1 Wednesday Change KL COMP 1,649.75 +8.18 NIKKEI 225 9,581.46 +56.14 HANG SENG 22,503.35 +179.41 SET INDEX 1,354.57 +13.24 JAKARTA COMP 4,337.53 +19.61 MANILA COMP 5,819.79 -11.71 SEOUL COMP 1,975.44 +10.82 SHENZHEN B 627.49 -1.93 MUMBAI IND 19,355.26 -31.88 11am EST Change DOW 13,261.73 +13.29 NASDAQ 3,020.59 -1.7248 words
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Article18 2012-12-13 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.575 TAIWAN 5.036 JAPAN 1.475 Source: Source: Bloomberg18 words
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867 2012-12-13 1 SHU-CHING JEAN CHEN - Myanmar has opened its doors to investors, but they must take their risks to reap rewards By SHU-CHING JEAN CHEN in Hong Kong MYANMAR may be Asia’s last frontier, an important missing link in a globalised roadmap. It presents investors a conundrum867 words
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Advertisement237 2012-12-13 1 BY-ELECTION IN PUNGGOL EAST? Speaker Michael Palmer resigns over affair page 2 PARK GEUN-HYE Is South Korea ready for Madam President? PAGE 16 COST OF LIVING S’pore more affordable for expatriates now: survey PAGE 11 PROPERTY Auction market notches lowest sales value in 15 years PAGE 27 **********04 IWC Pilot.237 words
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TOP STORIES
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Article349 2012-12-13 2 High prices, low growth loom for 2013 SLOW growth and high inflation will continue into 2013 as Singapore presses on with restructuring towards productivity-driven growth. The 21 forecasters polled by the Monetary Authority of Singapore in November reported a dimmer economic outlook for both this year and the349 words
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Article, Illustration1135 2012-12-13 2 CAI HAOXIANG - Workers’ Party urges by-election in vacated Punggol East seat By CAI HAOXIANG [SINGAPORE] Speaker of Parliament and People’s Action Party (PAP) MP Michael Palmer resigned yesterday after confessing to an extramarital affair, sparking speculation on whether a by-election will be called to fill his vacatedPHOTOS: RAJ NADARAJAN AND MUGILAN RAJASEGERAN/THE STRAITS TIMES - 1,135 words
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981 2012-12-13 4 KALPANA RASHIWALA - Year could end at $29.5 billion; Savills forecasts cooling in 2013 citing world economy, price gap By KALPANA RASHIWALA [SINGAPORE] Investment sales of property which refer to transactions of $10 million and above have fallen to about $6.9 billion so far this981 words
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491 2012-12-13 4 RONNIE LIM - Consultant to study move aimed at gas supply security By RONNIE LIM [SINGAPORE] The fast growth in natural gas use here by the generating companies, with this boosted by soon-to-arrive LNG supplies next year, is prompting the Energy Market Authority to study491 words
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Article, Illustration854 2012-12-13 4 GRACE LEONG - Justice Pillai finds Deutsche Bank failed in duty of care By GRACE LEONG [SINGAPORE] In what could be one of the biggest legal victories to date in Singapore for the financially inexperienced investor, the High Court awarded Taiwanese scientist Chang Tse WenTHE STRAITS TIMES FILE PHOTO - 854 words
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426 2012-12-13 4 Move will give him more control of company’s 15% stake in Bank of East Asia Bloomberg [HONG KONG] A group led by Malaysian billionaire Quek Leng Chan offered HK$8.25 billion (S$1.3 billion) to take Guoco Group Ltd private after theBloomberg - 426 words
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785 2012-12-13 4 VEN SREENIVASAN - Airline playing down expectations of special dividend By VEN SREENIVASAN [SINGAPORE] Can Singapore Airlines shareholders look forward to an extra payout from the gain of S$322 million from the sale of the airline’s 49 per cent stake in Virgin Atlantic (VA)? Judging785 words
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COMPANY NEWS
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Article, Illustration733 2012-12-13 6 NISHA RAMCHANDANI - Sale to Barry Callebaut allows it to focus on branded consumer division By NISHA RAMCHANDANI SINGAPORE Exchange-list-ed Petra Foods is selling its cocoa ingredients division to Zurich-based Barry Callebaut for US$950 million to focus on growing its branded consumer division. Petra shares, in whichFILE PHOTO - 733 words
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374 2012-12-13 6 KENNETH LIM - By KENNETH LIM GLOBAL investors will gain improved access to Singapore Exchange (SGX) and Eurex from next month as a link-up of their data centres will finally come online after the plan was first announced in March this year. In their March joint374 words
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358 2012-12-13 6 TEO SI JIA - It has a ‘buy’ call with target price at 72 cents By TEO SI JIA DMG Partners Research yesterday initiated coverage on Food Empire with a ‘buy’ call, setting the target price at 72 cents. The research house expects 2012-2014 earnings rise for the358 words
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Article, Illustration383 2012-12-13 9 LYNN KAN - Contract for Keppel Fels comes from Mexican oil firm Pemex By LYNN KAN RIG orders streaming into Singapore’s yards from Mexico have kicked into high gear. Keppel Fels, a subsidiary of Keppel Offshore and Marine (Keppel O&M), won an order for two proprietary383 words
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565 2012-12-13 9 RONNIE LIM - E&P player hopes to raise new equity in Q1 2013 if US fiscal cliff is avoided By RONNIE LIM RH PetroGas (RHP) which kicked off its oil and gas exploration and production (E&P) aspirations after buying Temasek Holdings unit Orchard Energy two years ago is565 words
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256 2012-12-13 9 LYNN KAN - By LYNN KAN ANOTHER unit of South Korea’s STX Group could be up for a stake sale. This time, it is STX Pan Ocean, the Singapore-listed bulk shipping arm of STX Group. In a filing to Singapore Exchange yesterday to clarify256 words
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Article, Illustration368 2012-12-13 10 TEO SI JIA - It’s exploring a tie-up with Toga, one of the country’s largest hospitality operators By TEO SI JIA FAR East Orchard, which is part of Far East Organization, has inked a non-binding memorandum of understanding (MOU) to explore forming a joint-venture company with Australian368 words
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296 2012-12-13 10 MINDY TAN - By MINDY TAN HH Properties, a joint venture between Hiap Hoe Limited and SuperBowl Holdings Limited, said yesterday that its first hotel development project in Singapore is on track for completion, with two hotels to be fully open to guests by the first296 words
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422 2012-12-13 10 Reuters [HONG KONG] Banks preparing companies for listing on Hong Kong’s stock exchange will be made explicitly liable for IPO prospectuses, although they will also have more powers to ensure that their clients play by the rules, under proposals released by theReuters - 422 words
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COMPANY BRIEFS
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85 2012-12-13 10 Reuters [TOKYO] GLP J-Reit, a Japanese real estate trust set up by Singapore’s Global Logistic Properties Ltd, will sell 111 billion yen (S$1.6 billion) worth of shares in its initial public offering in Japan after pricing at the top end of theReuters - 85 words
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122 2012-12-13 10 FRASER and Neave (F&N) has appointed JP Morgan as its independent financial adviser with regards to a $9.08 per share general offer by a consortium led by property developer Overseas Union Enterprise (OUE). JP Morgan, which had earlier found a rival122 words
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54 2012-12-13 10 SEMBCORP Marine has acquired a 34.5-hectare site at Tuas View South Extension as part of the second phase of development of its integrated new yard facility. The Phase II new yard, with a lease of 30+30 years, will be developed in stages over54 words
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34 2012-12-13 10 CHI-EAST Pte Ltd, a 50:50 joint venture between Chi-X Global Holdings and Singapore Exchange (SGX), has been placed under members’ voluntary liquidation. Chi-East ceased operations in May this year.34 words
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36 2012-12-13 10 SAKARI Resources Ltd has decided to seek delisting from the Singapore Exchange mainboard. Its controlling shareholders support the delisting and shareholders have a cash exit alternative of $1.8751 per share.36 words
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Advertisement404 2012-12-13 7 m WRAP UP THE YEAR i AN uftR^EL THE GIFT OF CHRISTMAS. 16 November to 25 December 2012 Not just a season of gift giving, but a celebration of fine taste and great music to wrap up the year in style. paragon citibank CITIBANK PARAGON WORLD MASTERCARD EXCLUSIVE Citibank Paragon404 words
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SINGAPORE MARKETS
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Article, Illustration580 2012-12-13 8 R SIVANITHY - Buying is probably in anticipation of more monetary easing/stimulus at FOMC meeting, say observers STOCKS R SIVANITHY Senior Correspondent THE push on the Straits Times Index (STI) continued for a sixth consecutive day yesterday, this time adding 23.24 points to 3,141.57. Over the pastSource: Bloomberg - 580 words
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Article186 2012-12-13 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 10 2 4 0 0 0 10 2 4 Manufacturing 69 40 30 9 6 10 78 46 40 Commerce 21 18 25 4 3 4 25 21 29 Tpt/Stor/Comms 20 14 7186 words
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Article123 2012-12-13 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 32,710 32,710 118,467 118,467 Manufacturing 396,054 86,692 482,746 203,437 1,335 204,772 Commerce 221,925 156,698 378,623 148,762 7,453 156,215 Tpt/Stor/Comms 144,430 14,341 158,771 257,326 4,453 261,779 Finance 20,342 371 20,713 185,478 139 185,617 Construction 91,202 134,457123 words
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Article112 2012-12-13 8 Stock name Close Change CapMallsAsia 1.965 -0.010 CapitaLand 3.750 +0.040 CapitaMall 2.080 -0.030 CityDev 12.340 +0.340 ComfortDelGro 1.735 -0.005 DBS Grp 14.880 +0.100 F&N 9.520 +0.090 GLP 2.690 +0.040 Genting SP 1.305 +0.010 Golden Agri 0.660 HK Land 6.860 -0.050 IHH Healthcare 1.310 +0.010 JMH 60.650112 words
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Article67 2012-12-13 8 Dec 12 VALUE CLOSE BT OB/OS 450.00 +130.00 BT CADI -*****.00 +87.00 BT 10-day MA -*****.00 +45.00 FTSE ST Mid Cap 759.27 +3.97 FTSE ST Small Cap 502.92 +2.59 FTSE ST All Share 767.49 +5.31 FTSE ST China Top 206.51 +1.76 FTSE ST China 230.60 +0.60 FTSE67 words
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Article55 2012-12-13 8 VOLUME WE Hldgs 142,110,000 YHM 130,790,000 Europtron 92,749,000 TT Intl 67,189,000 Golden Agri 60,465,000 Rowsley 51,021,000 MDR 50,815,000 Contel 49,316,000 Noble Grp 46,631,000 SingTel 44,353,000 VALUE($) SingTel 149,782,320 DBS Grp 64,816,760 Keppel Corp 61,704,330 OCBC Bk 52,060,990 Noble Grp 51,610,045 UOB 45,858,770 CapitaLand 43,870,215 Golden Agri 39,987,12055 words
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Article, Illustration916 2012-12-13 8 CAI HAOXIANG - Compiled by CAI HAOXIANG ComfortDelGro Corporation Dec 12 close: $1.735 OCBC INVESTMENT RESEARCH, Dec 12 RECENT comments by the transport minister have compelled us to revisit our conservative growth assumptions for ComfortDelGro (CD). As a result, we increase our fair value from $1.60 to $1.90, which raises ourSource: Bloomberg - 916 words
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Article, Illustration465 2012-12-13 8 CURRENCIES AFP [TOKYO] The yen lost ground in Asian trading yesterday in the wake of North Korea launching a rocket seen by many in the international community as a disguised ballistic missile test. The greenback bought 82.67 yen in Tokyo trade fromAFP; PHOTO: BLOOMBERG - 465 words
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Article104 2012-12-13 8 BY CENTS CLOSE UP Jardine C&C 4882 146.0 3.1 DBXT STGLDv100 10US$ 2861 136.7 4.1 GLD 10US$ ***** 67.1 0.3 STXPO 100 418 58.0 16.1 Petra 331 56.0 20.4 DBXT FTChina25 10US$ 2950 40.3 1.1 DBXT S&P500 10US$ 2322 39.1 1.4 UOB 1974 39.0 2.0 SIA.ES.1212 1083 37.0 3.5104 words
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Article123 2012-12-13 8 BY CENTS CLOSE DOWN Hyflux 6% CPS 10 ***** -400.0 -3.5 JSH 3561 -86.7 -2.0 DBXT S&P Short 10US$ 3483 -45.2 -1.1 DBXT Nifty 10US$ ***** -37.8 -0.3 OCBC Bk 4.5%NCPS 100 ***** -10.0 -0.1 HK Land 686 -6.1 -0.7 DBXT iBoxxSing 5SG$ ***** -5.0 0.0 Great Eastern 1563123 words
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Advertisement16 2012-12-13 9 so%* 2/ia item 1st item Conditions apply V 6281 5688 or 6757 4403 ip www.gnc.com.sg 'V16 words
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Advertisement84 2012-12-13 10 S: r>> S.H r DEAL9«a#i kj WITH STPROPERTY.SG BUYING OR RENTING A PROPERTY? We'll .reward you with $888! Visit www.STProperty.sg/deal2win now for more information. Hurry, you have until 31 January 2013 to be one of our 8 lucky winners!* *Terms conditions apply, Agents get t0 m S3®® worth of advertising84 words
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SINGAPORE NEWS
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Article, Illustration719 2012-12-13 11 MALMINDERJIT SINGH - Compared to other cities in Asia, it had smaller rise in costs of living By MALMINDERJIT SINGH SINGAPORE has become more affordable for expatriates to live in, relative to other Asian cities, making it more cost-competitive to companies looking to expand in theST FILE PHOTO - 719 words
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358 2012-12-13 11 KIM MIN SEOK - By KIM MIN SEOK YANG KEE Logistics has turned to specialising in chemical logistics with a new $120 million facility at Jurong Pier Road, to better serve its clients on Jurong Island. It is one of over 50 small and mediumsized358 words
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315 2012-12-13 11 CHNG SZE NING - By CHNG SZE NING THE Institute of Engineers, Singapore (IES) is expanding its current Bukit Tinggi premises with the construction of a new green building. The groundbreaking ceremony was held yesterday, in the presence of Deputy Prime Minister Teo Chee Hean.315 words
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Article, Illustration282 2012-12-13 11 ARTHUR LEE - By ARTHUR LEE MILLENNIUM Copthorne (M&C) Hotels, whose three properties in New York were spared the full brunt of Superstorm Sandy, have immersed themselves in relief projects to help affected communities. “We try to help where we can. It is our philosophy to givePHOTO: MILLENNIUM & COPTHORNE - 282 words
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325 2012-12-13 11 TEO HOONG CHEN - By TEO HOONG CHEN MEMBERS of family businesses who are anointed to take over the helm can soon opt to go back to school to pick up a trick or two that are aimed at making the eventual handover seamless. PricewaterhouseCoopers (PwC), Insead and325 words
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Article, Illustration599 2012-12-13 11 SIOW LI SEN - Special service for Citigold Private customers By SIOW LI SEN CITIBANK is offering unbiased views on property investment to wealthy clients as part of a holistic service, as it tries to stand out from the crowded private banking business. “We found when599 words
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Advertisement25 2012-12-13 11 G1-r bal Holidays Your Reliable Travel Partner TA***** Novena Square *****110 > Club Med WHERE HAPPINESS MEANS THE WORLD The Plaza West Coast Plaza *****211 > *****21125 words
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MALAYSIA/INDONESIA
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Article, Illustration505 2012-12-13 12 PAULINE NG - Realtors say lenders and borrowers have adjusted to stricter lending rules By PAULINE NG in Kuala Lumpur MALAYSIA’S realtors expect prices for residential properties to either increase or remain stagnant next year, but a decline is unlikely because lenders and borrowers have adjusted505 words
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438 2012-12-13 12 They see no need for additional steps to support prices Reuters [BANGKOK] The world’s top three rubber producers have agreed to keep up a policy of cutting exports, but see no need for additional steps to support prices, a senior Thai governmentReuters - 438 words
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Article, Illustration494 2012-12-13 12 Bloomberg [JAKARTA] Indonesia’s Bakrie Group has expressed doubt that Nathaniel Rothschild has gained support for his proposal to unwind a US$3 billion deal the financier and the Bakries forged two years ago that created Lon-don-listed Bumi plc. Mr Rothschild said on MondayBloomberg; PHOTO: BLOOMBERG - 494 words
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371 2012-12-13 12 Reuters [KUALA LUMPUR] Malaysian builder MMC Corp Bhd will offer nearly a third of the enlarged capital of its power unit Malakoff Corp Bhd in a share market listing expected in the second quarter of 2013, according to a stockReuters - 371 words
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478 2012-12-13 12 Lynas will recycle its plant’s residues into export goods AFP [KUALA LUMPUR] Australia’s Lynas Corp said yesterday it would recycle the by-products from its controversial rare earths plant into export goods after host Malaysia ordered the miner to remove its waste from theAFP - 478 words
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GREATER CHINA/INDIA
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534 2012-12-13 13 Index of industrial production up 8.2%; factory, mine output shows strongest growth since June 2011 Reuters [NEW DELHI] A big surge in manufacturing output pushed India’s industrial growth to its highest in more than a year in October, a sign that Asia’s third-largest economyReuters - 534 words
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Article, Illustration911 2012-12-13 13 Maestro popularised Indian classical music in the West Bloomberg [NEW YORK] Ravi Shankar, the sitar player and composer described as the “godfather of world music” by Beatles guitarist George Harrison, has died. He was 92. Shankar, who first performed internationally as a child, devoted his adultBloomberg; REUTERS FILE PHOTO - 911 words
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507 2012-12-13 13 Bloomberg [SYDNEY] PetroChina Co, Asia’s biggest oil producer, has agreed to pay BHP Billiton Ltd US$1.63 billion for its holding in Woodside Petroleum Ltd’s proposed Browse liquefied natural gas (LNG) project in Western Australia. PetroChina will acquire an 8.33 per cent stake in the EastBloomberg - 507 words
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Advertisement1751 2012-12-13 13 MIYOSHI PRECISION LIMITED Company Registration No. *****3979K (Incorporated In The Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Miyoshi Precision Limited (“the Company”) will be held at No. 5 Second Chin Bee Road, Singapore *****2 on Friday, 28 December 20121,751 words
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ECONOMY WATCH
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Article, Illustration732 2012-12-13 14 Vying parties at odds over how to achieve enduring economic growth AP [TOKYO] It’s the US$6 trillion question: how to jolt Japan out of its 20-year economic slump. The dozen or so parties vying in a Dec 16 parliamentary election all agree thatAP; PHOTO: AFP - 732 words
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Article, Illustration601 2012-12-13 14 But it fails to boost party’s popularity or revive confidence Bloomberg [SEOUL] South Korean President Lee Myung Bak’s legacy of full employment has failed to bolster his party’s popularity or revive consumer confidence, prompting both candidates in Dec 19 elections to pledgeBloomberg; PHOTO: BLOOMBERG - 601 words
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509 2012-12-13 14 Unwinding stimulus policies could be politically tough Reuters [BANGKOK] Efforts by major central banks to stimulate their economies by buying government debt could see their independence at risk once the time comes to unwind those policies, a top Australian central banker saidReuters - 509 words
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335 2012-12-13 14 AP [BRUSSELS] The European Union on Tuesday approved a new common patent system designed to cut red tape and streamline patent procedures across much of Europe. The European Parliament concluded the drawnout decision-making process, backing a cluster of packages by a wide majority toAP - 335 words
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Advertisement42 2012-12-13 14 tablet THE HEARTBEAT OF THE INDIAN COMMUNITY WHAT’S SACHIN WAITING FOR? Cricket icon Tendulkar keeps everyone guessing about his retirement Indian authors find Singapore a good place to launch their books GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS WHILE STOCKS LAST42 words
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WORLD
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Article, Illustration1020 2012-12-13 15 With the fiscal cliff looming, US top earners aren’t getting precise information Bloomberg [NEW YORK] Taxes will rise for wealthy Americans next year. It’s still a question of how much. US income tax rates for top earners and investors will go upBloomberg; PHOTOS: AFP, REUTERS - 1,020 words
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601 2012-12-13 16 Serious Fraud Office intensifies probe into manipulation of interbank rate AFP [LONDON] Britain has stepped up its probe into rigging of the Libor interbank lending rate, making its first arrests in a scandal that has shaken faith in London’s role at the heart of theAFP - 601 words
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Article, Illustration892 2012-12-13 16 Ex-dictator’s daughter has both admirers detractors aplenty Reuters [SEOUL] If Park Geun-hye wins South Korea’s presidential election this month, as looks increasingly likely, she will become the first woman to hold the country’s top office, challenging stereotypes in a nation that is largelyReuters; PHOTO: REUTERS - 892 words
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273 2012-12-13 16 Reuters [WASHINGTON] A group of high-profile corporate leaders urged President Barack Obama and congressional leaders on Tuesday to reach a “principled compromise” on US fiscal policy that includes higher tax revenues and spending cuts. The CEOs sent a letter under the umbrellaReuters - 273 words
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314 2012-12-13 16 AFP [TOKYO] Japan’s Suntory Group is planning a US$6 billion stock listing of its food and non-alcoholic drinks unit, according to reports yesterday. The firm would make its Tokyo listing plans official by year-end with the up to 500 billion yen (S$7.4 billion)AFP - 314 words
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304 2012-12-13 16 Reuters [AMSTERDAM] Dutch banks including ING and SNS Reaal will face tough operating conditions next year, with the prospect of higher loan losses from property and increased funding costs, Moody’s Investors Service warned in a report yesterday. Moody’s which downgraded five DutchReuters - 304 words
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426 2012-12-13 18 They drop 0.9% after 3 months of gains as food and fuel costs tumble LATEST US DATA Reuters [WASHINGTON] US import prices recorded the biggest drop in five months in November as food and fuel costs tumbled, keeping inflation pressures subdued againstReuters - 426 words
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353 2012-12-13 18 AP [ATHENS] Greece will buy back 31.9 billion euros (S$50.5 billion) of its bonds from private investors at a third of their nominal price, the debt management agency said yesterday, lightening its crushing debt load and meeting a keyAP - 353 words
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629 2012-12-13 18 Reuters [VIENNA] A new rivalry at the top of the Opec oil group has emerged, pitting up-and-coming Iraq against undisputed cartel heavyweight Saudi Arabia. Having overtaken Iran as Opec’s second biggest producer, a rejuvenated Iraq is beginning to worry Riyadh. At yesterday’sReuters - 629 words
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462 2012-12-13 18 AP [LONDON] Industrial production across the 17 European Union (EU) countries that use the euro unexpectedly slumped in October, official figures showed yesterday, in another sign that the region’s recession is getting worse and weighing on big economies like Germany. Eurostat, the EU’s statisticsAP - 462 words
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Article, Illustration494 2012-12-13 18 Washington Post [LANSING, Michigan] The state of Michigan has enacted far-reaching legislation that threatens to cripple the power of organised labour in a state that was a hub of union might during the heyday of the nation’s industrial dominance. As thousandsWashington Post; PHOTO: AP - 494 words
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433 2012-12-13 19 AP [LONDON] The value of global mergers and acquisitions deals in 2012 was nearly half the amount made five years ago, when the global financial crisis was first baring its teeth, a leading accounting and consulting firm said yesterday. According to Ernst Young,AP - 433 words
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Article, Illustration618 2012-12-13 19 CNOOC-Nexen deal boosts China’s drive to secure foreign resources, markets AFP [SHANGHAI] China’s biggest overseas takeover, the US$15 billion purchase of Canada’s Nexen, is a huge step in Beijing’s push for foreign acquisitions but its drive to secure resources and markets is causing unease. OttawaAFP; PHOTO: REUTERS - 618 words
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Article, Illustration581 2012-12-13 19 Tablets will not kill PCs but are likely to force them to adapt AFP [SAN FRANCISCO] The shift to smartphones and tablets became a landslide this year, crushing desire for laptop computers and pressuring manufacturers to adapt to the mobile Internet era. TheAFP; PHOTO: AP - 581 words
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188 2012-12-13 19 Bloomberg [DUBAI] Shuaa Securities, the oldest brokerage in Dubai, is transferring retail clients to another company as it shutters operations amid losses at its parent, two people familiar with the matter said. Shuaa Securities, established in 1986 and headquartered in Abu Dhabi,Bloomberg - 188 words
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Advertisement585 2012-12-13 16 v.- WAT3 NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices ■p-v SI NOSTAR f a b it ts is IB HI SINOSTAR PEC HOLDINGS LIMITED SINOSTAR PEC HOLDINGS LIMITED (Incorporated in Singapore with limited liability) (Company Registration No.: *****9833N) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary585 words
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Advertisement377 2012-12-13 16 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF KBK INTERNATIONAL PTE LTD Company Registration No. *****0115D (In Members’ Voluntary Liquidation) At an Extraordinary General Meeting of the members of the abovenamed Company, duly convened and held at 19 Keppel Road #07-08 Jit Poh Building377 words
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Page 17 Advertisements
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Advertisement240 2012-12-13 17 SPHis more just a newspaper than company We go beyond the power of print to meet evolving needs. Through digital platforms, radio, outdoor media, exhibitions, shopping malls and community activities, we engage minds and enrich lives. DIGITALThe AsiaOne network, STJobs, STProperty, STClassifieds, STCars, STOMP, ST Razor TV, omy.sg, shareinvestor.com, HardwareZone.com,240 words
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Page 18 Advertisements
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Advertisement15 2012-12-13 18 I HOME DECOR’S Great Christmas Giveaway WIN$15,000 WORTH OF GIFTS! > ,"3.1#:98#B’#@2?2ED98-BA(.1".+’&#)240 6-9569CB0/>5>5C?96:-B’82D-. HOME DECOR'S "4<%=7&&%;4,+;4<+*$)1,4<4(!47*15 words
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Advertisement8 2012-12-13 18 www.omy.sg St t u 2012 id minx* news.omy.sg8 words
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Advertisement125 2012-12-13 18 Legend of the Seas 2012 /2013 2N MALACCA CRUISE Dep Date Feb 06 Mar 23 Port-of-call Singapore, Malacca 3N BEST OF MALAYSIA CRUISE Dep Date 26 Port-of-call Singapore, Penang, Malacca Dep Date Feb 22 Mar 01,08 29 Port-of-call Singapore, Penang, Port Klang 4N ISLES OF SOUTHEAST ASIA Dep Date Port-of-call125 words
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Page 19 Advertisements
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Advertisement1859 2012-12-13 19 CFM HOLDINGS LIMITED (Registration No. *****3708R) NOTICE OF THE TWELFTH ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Twelfth Annual General Meeting of CFM Holdings Limited (the “Company”) will be held at The Grassroots’ Club, 190 Ang Mo Kio Avenue 8, Singapore *****6 on Friday, 28 December 2012 at1,859 words
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AVIATION/SHIPPING
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Article, Illustration421 2012-12-13 20 AFP [MUMBAI] Kingfisher Airlines said on Tuesday that it was in talks with Abu Dhabi’s Etihad Airways and other investors about buying a stake in the ailing Indian carrier. But Kingfisher denied that a deal had been reached with Etihad after a reportAFP; PHOTO: BLOOMBERG - 421 words
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529 2012-12-13 20 It will reschedule HK, S’pore services that are arriving too late for meetings Bloomberg [SYDNEY] Qantas Airways Ltd, seeking to end losses on international routes, will reschedule Hong Kong and Singapore services that arrive too late for business meetings as partBloomberg - 529 words
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Article, Illustration453 2012-12-13 20 Bloomberg [RIO DE JANEIRO] A new vista is competing with the sun, surf and swimsuits at Rio de Janeiro’s iconic Copacabana and Ipanema beaches: a traffic jam of cargo ships belching exhaust that has hoteliers crying foul. Cargo traffic at Rio’s port hasBloomberg; PHOTO: BLOOMBERG - 453 words
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Article251 2012-12-13 20 SGX '000 Dec 12 S$ +/-Vol CH Offshore 0.46 0.01 25 Chuan Hup Hldg 0.25 unch 40 Cosco Corp 0.88 0.01 5910 Dec 12 Ezra Hldgs 1.10 0.01 1799 First Ship Lea 0.12 unch 340 Freight Links 0.07 unch ***** Grand Banks 0.32 0.01 12 Jaya Hold Ltd251 words
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294 2012-12-13 20 Reuters [LONDON] Western sanctions imposed over the past months against Iran’s shipping industry will seriously affect international maritime and environmental safety, a senior Iranian official said. Companies are cutting ties with Iran’s vital shipping sector, which transports most of its crude oil, forReuters - 294 words
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262 2012-12-13 20 Washington Post [WASHINGTON] The top Democrat on the House Homeland Security Committee wants the Obama administration to halt privatisation of airport security screening operations until the costs and any benefits can be determined. Bennie Thompson said a Government Accountability OfficeWashington Post - 262 words
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1919 2012-12-13 21 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 Destination1,919 words
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Page 20 Advertisements
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Advertisement37 2012-12-13 20 Architecton startinghisownbusiness Whilevarsityclassmates wenttravelling, hetoiledatthe construction site... 大建筑师创业故事一那年同学去旅行他去当建筑工 To subscribe, call 6388-3838 or go to sphsubscription.com.sg37 words
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Page 20 Miscellaneous
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Miscellaneous312 2012-12-13 20 CRYPTIC CROSSWORD Across 1 House worker perhaps, I toil furiously in dreadful panic (10) 6 Writer of plays safe for audience (4) 9 Bird needs a moment, being fabulous (10) 10 Person in charge succeeded initially in pitch (4) 12 Incline to follow leaderless soldiers and join up (6) 13312 words
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Page 21 Advertisements
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Advertisement33 2012-12-13 21 PLACE YOUR AD HERE The Business Times Shippi CALL JOE WOr> G TIMES IG AT 9620 1327 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times?33 words
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Advertisement31 2012-12-13 21 Experienced $h/p maintenance m you y r services services wanted, herein the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES I ML UUJIIVLJJ IIIVILJ Shipping Times31 words
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EDITORIAL & OPINION
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510 2012-12-13 22 EDITORIAL ASIAN stocks have rallied over the past two weeks, reportedly because of improving economic data from China; the absence of any major fallout from Europe’s debt problems (so far); and hopes that US lawmakers will soon cut a deal that saves the American510 words
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Article, Illustration795 2012-12-13 22 FRANK CHING - THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 NEW Chinese leader Xi Jinping is assuming the mantle of a reformer, visiting Shenzhen (adjoining Hong Kong), which pioneered China’s economic reform movement795 words
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Article, Illustration1191 2012-12-13 22 ANTHONY ROWLEY - More are concerned about the threat that China may present to the region ANTHONY ROWLEY Tokyo Correspondent IS Japan “swinging to the Right” and, if so, is this something that the rest of Asia and the world should be worried about? WePHOTO: REUTERS - 1,191 words
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Article, Illustration1353 2012-12-13 23 LEON HADAR - Besides having to deal with changing demographics, the Republicans have to unite a disparate alliance to avoid extinction LEON HADAR Washington Correspondent A YOUNG Republican political thinker once approached the leaders of his party, including then-presi-dential aspirant Richard Nixon, with a plan to transformPHOTO: AP - 1,353 words
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Article, Illustration579 2012-12-13 23 HAIDER RASHID - By HAIDER RASHID The writer is the head of ABB in Singapore, South-east Asia and Oceania FROM a young age, we have all had the need to work hard impressed on us by family and society and for many of us, this drive has formed579 words
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SINGAPORE STOCKS
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Article2984 2012-12-13 24 Transaction date: Dec 12 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 145.5 +4 1121 145.5 1412,984 words
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Article197 2012-12-13 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 5541 1.5 1.5 1.5 1.6 22.3 Last Quote Div Gr Yld Net M Cap High Low197 words
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Article8502 2012-12-13 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 Mgt S'pore Pte Ltd Aberdeen Asset Mgt Asia Limited Asian Local Ccy SD Bond 0.9855/ EM local Ccy8,502 words
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Article206 2012-12-13 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 $mil 43.5 25.5 AVJennings A34.5 +1 19 42 34.5 34.5 37.5 3.6 10.1 2.8 89.8 41.5 26 Genting HK US$ US31.5 -0.5 ***** 32 31.5 31.5 32 2074.1206 words
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Article913 2012-12-13 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 $mil 126 114.4 ABF SG Bond ETF 121 +3.5 1 121 121 119 121 552.3 128.9 120.4 CIMB APAC Div 100S$D 125 129 130 105.5 95.8 CIMB913 words
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FINANCE & COMMODITIES
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Article713 2012-12-13 26 Dec 12 D»EU HIGH LI1W £01 VOL orar NIKMI «> INDEX FUTUME wot ■>10 91KUC imii «i*iVr Kin fin i All' nrr ».9FE on IrUIri JlITM Mm i3 jsisic sriowi 9915 01 35TSM M6IM3 msci Taiwan index futures I.TOI ir, Fk 1^ 0».v> 7U, v }T)i 0713 words
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373 2012-12-13 26 In local curr In S$ In US$ dy yr dy yr dy yr Dec 11 Index Change Change Change Change Change Change World Preliminary 932.7 0.7 12.4 0.8 6.1 0.8 12.7 EAFE Preliminary 760.8 0.3 11.5 0.6 5.2 0.6 11.7 Europe Preliminary 1150.3 0.5 12.1373 words
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Article, Illustration94 2012-12-13 26 As on 11 December 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE PRECIOUS METAL GOLD FUT FEB2013 1715.30 1707.20 1709.30 INDIA GOLD (E-GOLD) FUT FEB2013 574.25 571.65 572.65 CURRENCY EUR-USD FUT DEC2012 1.3004 1.2930 1.3008 BASE METAL COPPER FUT MAR2013 8162 8145 8124 INDEX IRON ORE (MBIO) IDX94 words
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Article107 2012-12-13 26 Dec 11 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 13 1472.00 1474.75 1487.75 1464.25 Mar 13 1471.25 1475.25 1486.25 1463.75 May 13 1459.00 1462.75 1471.25 1450.50 Jul 13 1446.00 1451.50 1459.00 1438.50 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Dec 12 49.87107 words
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Article70 2012-12-13 26 CRUDE OIL PRODUCTS Dec 11 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 106.36 -0.67 WTI (Near Mth) 85.76 0.14 Dubai (1-Mth F) 103.23 -0.33 Tapis blend 113.24 0.33 Minas 106.52 0.33 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 102.44 -0.67 Jet Kerosene 122.05 -0.67 US$/barrel OpecOil Basket70 words
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Article22 2012-12-13 26 Dec 12 S$ Bid Offer 1-month 1.2208 1.2209 2-months 1.2208 1.2209 3-months 1.2207 1.2209 6-months 1.2205 1.2207 Source: OCBC22 words
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Article64 2012-12-13 26 Dec 11 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2110.00 2123.50 3 months 2116.00 2132.00 Copper, Grade A(US$/tonne) Cash 8074.50 8108.50 3 months 8100.00 8135.00 Lead(US$/tonne) Cash 2281.00 2283.50 3 months 2298.00 2300.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.00 *****.00 3 months *****.0064 words
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Article80 2012-12-13 26 Dec 11 COCOA (£/tonne) Close Prev High/Low Dec 12 1518 1595 1597/1516 Mar 13 1519 1520 1524/1510 May 13 1526 1527 1531/1520 Jul 13 1532 1532 1537/1526 COFFEE(US$/tonne) Close Prev High/Low Jan 13 1888 1874 1895/1859 Mar 13 1884 1880 1890/1866 May 13 1894 1892 1902/1879 Jul 13 190680 words
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934 2012-12-13 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 1 146 650 5.00 17 Conv Ratio Best World Intl Ltd W*****5 0.5 1 30 68 36.40 7 Price BiosensoMBeCW*****3 4.3 0.2 390 0.4 140 6 Biosensors934 words
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Article470 2012-12-13 26 Dec 12 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.039 6.581 0.810 8.166 57.187 101.625 0.872 11.325 3.218 1.254 102.352 43.221 1.286 9.122 0.982 30.623 32.273 0.654 1.054 Canada 0.963 6.336470 words
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Article58 2012-12-13 26 Dec 12 (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$) 0.***** 3 mths 0.***** 0.***** 9 mths SWAP Mid rates (S$) 12 mths 0.***** SWAP Mid rates58 words
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Article134 2012-12-13 26 Dec 12 GOLD(US$/oz) Dec 12 Dec 11 Hong Kong 1724.00 1720.00 Dec 11 Dec 10 London 1707.41 1713.36 1708.18 1714.13 Source: Thomson Reuters CAST BAR Dec 12 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 151 67 5gm 429 337 10gm 767 673134 words
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Article88 2012-12-13 26 Dec 12 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****A 14-Mar-13 0.23 6-Month BS*****X 13-Jun-13 0.26 1-Year BY*****X 01-Nov-13 0.26 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0N 0.25 01-Oct-14 101.98 5-Year N*****0Z 2.375 01-Apr-17 108.6588 words
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Article57 2012-12-13 26 Dec 12 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 12 2040.0 2087.0 2060.0 2040.0 33 2351 Jan 13 2163.0 2187.0 2166.0 2130.0 786 ***** Feb 13 2263.0 2291.0 2266.0 2229.0 ***** ***** Mar 13 2340.0 2365.057 words
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Article154 2012-12-13 26 Dec 12 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2861 1.2866 1.0535 1.0538 Canadian dollar 1.2381 1.2387 1.0146 1.0142 Euro 1.5878 1.5881 1.3006 1.3008 NZ dollar 1.0257 1.0263 0.8402 0.8406 Sterling pound 1.9656 1.9664 1.6101 1.6106154 words
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Article121 2012-12-13 26 As at 9am Dec 12 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.315 1.253 Can dollar 1.266 1.206 Euro 1.624 1.547 Sterling pound 2.004 1.927 NZ dollar 1.057 0.998 US dollar 1.244 1.185 Local dollars to 100 units of foreign121 words
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Article154 2012-12-13 26 Dec 12 $S Offer Bid 0vernight 0.01 par 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.03 US$ 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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PROPERTY
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727 2012-12-13 27 FELDA CHAY - Auction market sees lowest sales value in 15 years, less than 10% sold By FELDA CHAY SINGAPORE’S property auction market had a quiet year, chalking up its lowest sales value in 15 years and selling barely one-tenth of the properties put up for auction,727 words
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Article929 2012-12-13 27 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN NOV 14 AND NOV 20, 2012 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED V On Shenton Apt 15/11/2012 99 484 1288 2659 V On Shenton Apt 15/11/2012 99929 words
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Article, Illustration511 2012-12-13 27 ZEINAB YUSUF SAIWALLA - By ZEINAB YUSUF SAIWALLA HIGH-END rental rates look set to continue their downward trend, with market watchers predicting a price correction of between five and 10 per cent next year stemming from tightened budgets and an increasing supply of completed luxury homes. This would bringFILE PHOTO - 511 words
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Article, Illustration342 2012-12-13 28 Houses there and Darwin seen having gains of as much as 7%: researcher Bloomberg [SYDNEY] Houses in Perth and Darwin will lead a price recovery in Australia’s real estate market with gains of as much as 7 per cent, according to Australian Property MonitorsBloomberg; PHOTO: BLOOMBERG - 342 words
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Article, Illustration1147 2012-12-13 28 NYT [NEW YORK] Abandoned houses with overgrown yards may be the image that most people associate with Detroit, but the city’s downtown and midtown neighbourhoods have the opposite problem: a shortage of rental apartments to meet a growing demand for an urban lifestyle. DevelopersNYT; PHOTO: AP - 1,147 words
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351 2012-12-13 28 Bloomberg [HONG KONG] Hong Kong is at risk of an abrupt decline in property prices after gains fuelled by low interest rates and a limited supply of new housing, the International Monetary Fund said. “The property sector is the main source ofBloomberg - 351 words
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166 2012-12-13 28 Bloomberg [MELBOURNE] China’s sovereign wealth fund has sold a 6.9 per cent stake in Goodman Group, Australia’s biggest industrial property trust, to raise about A$519 million (S$668 million), according to two people with knowledge of the matter. China Investment Corp sold the 116.67 million sharesBloomberg - 166 words
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Article, Illustration1817 2012-12-13 29 Property investors, banks taking advantage of rising demand from Asians and Northern Californians Bloomberg [LOS ANGELES] Hawaii, buffeted in the aftermath of the US recession and Japan’s tsunami, is benefiting from a travel rebound that’s sent tourism revenue to a record andBloomberg; PHOTO: BLOOMBERG - 1,817 words
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Page 27 Advertisements
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Advertisement12 2012-12-13 27 earch.savills.asia China Hong Kong Singapore 'Taiwan 'Thailand 'Vietnam Agency no. Lsoogesse savills12 words
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Page 28 Advertisements
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Advertisement60 2012-12-13 28 ♦JV. REALSTAR THE LEADING BUNGALOW SPECIALIST^ Winner, Singapore Prestige Brand 2009 A Classic Quaint GCB with more than 20yrs old history. Rare plot. Expand your creativity, challenge your passion for innovation. Land ***** sqft approx Built 4000sqft approx Asking $20m A Modern Contemporary GCB Swettenham for the discerning few. Land60 words
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Advertisement82 2012-12-13 28 Collective Sale Hua Court, 63 Raya Lebar Crescent LOR AH SOO Paya Lebar Methodist Girls’ Sch Pri Sec nex Serangoon lu MRT QInterchange 9r O •A SUBJECT 'S. SITE Bartley BARTLEY RD Maris Stella Pri High Sch Freehold, facing park Zoned 3-storey Mixed Landed 1,515.4sqm (16, 311 sq ft) Potential82 words
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Advertisement91 2012-12-13 28 International Property Group Pte Ltd A Singapore based Boutique Real Estate Broker Focusing On Commercial Real Estate In Central Region of Singapore. We deal with Sales Leasing of the following types of assets 3 4 Star Hotels Shopping Mall Office Commercial Buildings Boutique Budget Hotels Commercial Shophouses Strata Office Units91 words
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Advertisement33 2012-12-13 29 we°t SE 5*, D f 8^°0 ron f IS a 5*„V“"«i/mt RENO. SPACIOUS. Check this out and many other properties in CATS Classified in The Straits Times now! WATS BUY IT-SELL IT-FIND IT33 words
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Advertisement147 2012-12-13 29 Australian Property Finance Have you recently bought an Australian property and need a loan to complete the transaction? Already own and want to ensure you have the best loan? CONTACT SPECIALIST MORTGAGE HERE IN SINGAPORE FOR FREE IMPARTIAL ADVICE TO REVIEW ALL OF YOUR OPTIONS. Web www.smats.net Email smats@smats.net 10147 words
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Advertisement43 2012-12-13 29 Ji M r St! J.4 Ifei r AM r 7fi -I jfc-» in SSft! SSii fft mk New Retail space at Lavende Suitable for Shops and F&B Units from 312 sqft, Rents from $5.50 psf fi For leasing enquires, please call: 6900 1MB43 words
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Advertisement241 2012-12-13 30 L. f u r Jj .4 U‘ a r A V f r h Tm I I ■ill RER c M c*. •ft. x r> lT tl *5 n— Vi HB&U1« u| Perfect living with a variety of homes for every family, in the heart of Singapore’s most desired district241 words
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