The Business Times, 19 December 2012

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Microfilm: NL32339
Total Pages: 29
1 30 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg Sp!l A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Wednesday, December 19, 2012
    25 words
  • Article
    Lock icon A grim X’mas, bonus blues for oil traders
    647 1  -  Bonuses will be cut; some could even lose their jobs By RONNIE LIM [SINGAPORE] It will be a blue Christmas for most oil traders here this year. They can forget about receiving the equivalent of last year’s bonuses of 6-12 months, industry
    647 words
  • Article, Illustration
    Lock icon China pulls out all stops to reel in outsourcing rivals
    895 1  -  Its new posterboy Pactera is playing the China card and tapping niche areas to take on the big boys By VIRGINIE MANGIN in Beijing IN a game of outsourcing catch-up, China has just found a new gear. Pactera, its biggest
    PHOTO: BLOOMBERG  -  895 words
  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 HST INDEX 3,156.79 (-1.91) HST INDEX FUTURES 3,151.00 (-2.00) HSIMSCI 358.15 (-0.04) GSIMSCI FUTURES 358.50 (+1.20) us$ s$ US$ (S$ per US$) 1.219 (US$/S$ per 1.620 1.975 EURO (US$/S$/€) 1.316 1.605 Foreign currency per US$ S$ YEN 84.00 68.90 RM 3.056 2.507 HK$ 7.750 6.358 BAHT 30.59 25.09 RUPIAH
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    • Article
      Lock icon MARKETS
      48 1 Tuesday Change KL COMP 1,659.44 +10.86 NIKKEI 225 9,923.01 +94.13 HANG SENG 22,494.73 -18.88 SET INDEX 1,362.94 +3.85 JAKARTA COMP 4,301.44 -14.42 MANILA COMP 5,636.59 +12.74 SEOUL COMP 1,993.09 +10.02 SHENZHEN B 641.75 -3.06 MUMBAI IND 19,364.75 +120.33 11am EST Change DOW 13,291.52 +56.13 NASDAQ 3,035.87 +25.26
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    • Article
      Lock icon PRIME RATES
      17 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.197 TAIWAN 5.036 JAPAN 1.475 Source: Bloomberg
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      47 1 HOCK LOCK SIEW Cruel fates send China Paper trail up in smoke PAGE 11 TransportHUB STRAIT TALK Challenges opportunities as the Arctic ice melts I PAGE 19 Heads of Singapore’s top makes share their views on what lies ahead for the local car market I PAGE 21
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      14 1 EXEC MONEY Are dividends the way to go in equities? PAGE 30 *****1 *****4
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      71 1 COMMENTARY On fair value and biological assets PAGE 23 The leading Swiss private banking group. Since 1890. www.juliusbaer.asia My name: John My business: Manufacturing My dream: To continue my family tradition My private bank: Julius Baer, because they have been leading the way in wealth management for generations Julius Baer
      71 words
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      13 1 S’PORE NEWS India, Asean set to unveil FTA on services, investment PAGE 12
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      200 2 / 3 Singapore’s new icon of progress welcomes its Latest member. The new Audi Q5. The contemporary SUV. Contemporary design meets modern, state-of-the-art technology in the new Audi Q5. Engineered for the ultimate drive, it features the next evolutionary stage in performance handling quattro® with torque vectoring. So everything you know about
      200 words
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  • TOP STORIES
    • Article
      Lock icon THREE-MINUTE DIGEST
      391 4 China plans to reel in outsourcing rivals PACTERA, China's biggest IT outsourcing company, is giving itself a mere two or three years to rival giants such as India’s Infosys and the multinational Accenture. FRONT PAGE A grim X’mas for oil traders IT WILL be a blue X’mas for
      391 words
    • Article
      Lock icon Moving from fast growth to good growth
      947 4  -  At a glance, the GDP number shows only the quantity, not ‘quality’, of economic growth COMMENTARY By ANNA TEO [SINGAPORE] MUCH has been made of the pros and cons of an economic slowdown in Singapore. To some, a dogged pursuit of gross domestic
      947 words
    • Article
      Lock icon Obama responds with concessions for fiscal cliff deal
      513 4 AP [WASHINGTON] Both President Barack Obama and Congress’ most powerful Republican are making significant concessions just two weeks before the econo-my-threatening “fiscal cliff” is due to kick in, backing off once-ironclad positions on how to avoid the huge austerity measures of automatic
      AP  -  513 words
    • Article
      Lock icon PICTET
      314 4 Pictet-Absl Rtn Glo Cons-P EUR 13.' 12.2012 EUR 105,58 Pictet-Absl Rtn Glo Div-P EUR 13. 12.2012 EUR 120,12 Pictet-Asian Equities Ex Japan-P USD 13.' 12.2012 USD 175,71 Pictet-Asian Local Currency Debt-P USD 13. 12.2012 USD 153,45 Pictet-Biotech-P USD 13. 12.2012 USD 372,04 Pictet-Clean Energy-P USD 13.' 12.2012 USD 62,40
      314 words
    • Article, Illustration
      Lock icon CAAS boosting Changi Airport’s capacity
      636 6  -  Managing air traffic, runway availability are targeted areas By NISHA RAMCHANDANI [SINGAPORE] The Civil Aviation Authority of Singapore (CAAS) is working towards boosting Changi Airport’s aircraft-handling capacity by some 40 per cent, in line with projections that air traffic will grow at 5 per cent
      ST FILE PHOTO  -  636 words
    • Article, Illustration
      Lock icon M&As set record in 2012, carry-over likely in 2013
      944 6  -  Deals involving Singapore hit a high of US$79.4b, up 83% from 2011: Thomson Reuters data By KENNETH LIM [SINGAPORE] A record year for mergers and acquisitions (M&As) in Singapore in 2012 could flow into a robust 2013 as cross-border deals and
      PHOTO: REUTERS  -  944 words
    • Article, Illustration
      Lock icon Strong demand seen for Queenstown condo site
      811 6  -  Govt also makes available reserve site next to Tanah Merah MRT Station By KALPANA RASHIWALA [SINGAPORE] The last two 99-year-leasehold private housing sites on the second half 2012 Government Land Sales (GLS) programme have been released. One is a plum site next to
      Source: URA, HDB  -  811 words
    • Article
      Lock icon Instagram paves way to sell your photos
      458 6  -  By VICTORIA HO [SINGAPORE] Photo-shar-ing wunderkind Instagram has just spruced up its terms and conditions to be in line with its new parent, Facebook. On Jan 16 next year, Instagram will reserve the right to sell its users’ photos without having to let
      458 words
    • Article
      Lock icon Clarification
      179 6 IN “Cavenagh Law in S’pore First Formal Law Alliance” (BT, Dec 12), Senior Counsel Harpreet Singh Nehal was quoted as saying: “What the legislation allows parties to do is offer a full range of legal services to clients in the Singapore market that they previously couldn’t do. Previously ringfenced
      179 words
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      6 4 www.omy.sg V 1 I 0 gosocial.omy.sg
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      86 5 iaL. Comprehensive Transportation Systems i 4 Advanced WaterTreatment Systems m >r Reliable Construction Machineries >5 Efficient Power Plants and Energy Solutions Pioneering technologies for a better tomorrow. For over a hundred years, we have been providing efficient transportation, cleaner water, sustainable energy and the infrastructure for a brighter tomorrow. As
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      1093 7 ADVERTORIAL ICAEW P CELEBRATING EXCELLENCE -Ol •Vfi A II I I ICAEW congratulates our Singapore ACA students who have successfully completed one of the most advanced learning and professional development programmes available. Having undergone an intensive work and study programme with some of Singapore's leading companies, they are now ready
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  • COMPANY NEWS
    • Article
      Lock icon NeraTel owners advised to reject Northstar offer
      422 8  -  Offer ‘fair but not compelling’, says the deal’s independent financial adviser By JOYCE HOOI NORTHSTAR Group’s offer of 49 cents per share should be rejected by Nera Telecommunications (NeraTel) shareholders, the deal’s independent financial adviser (IFA) said yesterday. Deloitte Touche Corporate Finance, acting
      422 words
    • Article, Illustration
      Lock icon Ezion issuing shares to EDB unit to raise $19m
      390 8  -  The new shares represent 1.61% of Ezion’s share capital By LEE MEIXIAN EZION Holdings Ltd will be raising net proceeds of some $18.9 million to pursue growth by issuing new shares to a unit of Singapore’s Economic Development Board (EDB). The
      390 words
    • Article, Illustration
      Lock icon Keppel eyeing further expansion in China
      593 8 Bloomberg KEPPEL Corp, the world’s biggest oil-rig builder, may consider buying a yard in China as the country boosts offshore drilling to meet rising energy demand. Keppel, which already has one yard in China making parts for oil rigs, will seek out acquisitions if
      Bloomberg  -  593 words
    • Article
      Lock icon MIIF decides to divest all assets after review
      660 9  -  But no time frame given for process and ‘no fire sale’, stresses chairman By ONG CHOR HAO THE board at Macquarie International Infrastructure Fund (MIIF) is working to divest all its assets in an orderly winding down, after failing to plug a
      660 words
    • Article
      Lock icon SMRT, NTUC FairPrice win Sports Hub bid
      392 9  -  Their JV SMRT Alpha will manage 40,800 sq m retail area, invest $15m By ANDREA SOH SMRT Corporation’s subsidiary SMRT Investments, together with a subsidiary of NTUC FairPrice, won a bid to operate and manage the retail space at the Singapore Sports Hub.
      392 words
    • Article
      Lock icon Analysts give S-Reits the thumbs up
      721 9  -  By MINDY TAN ANALYSTS remain largely positive on Singapore real estate investment trusts (S-Reits), citing factors such as high-yield spreads compared with peers in other major markets and its defensive nature in the midst of uncertain macroeconomic outlook. DBS Vickers Securities noted, in a
      721 words
    • Article
      Lock icon No irregularities in accounts: China Paper
      358 11  -  Shares drop 18 per cent after fire destroys company’s financial records By CAI HAOXIANG MAINBOARD-listed paper manufacturer China Paper Holdings yesterday said it was not aware of any irregularities in its accounts and any material information had already been disclosed. The statement comes a
      358 words
    • COMPANY BRIEFS
      • Article
        Lock icon Wilmar to sell stake to China Natural Gas
        45 11 WILMAR International Ltd has conditionally agreed to sell its 15 per cent interest in Fortune Gas Investment Holdings Ltd to China Natural Gas Investment Ltd for US$60 million. Wilmar bought the stake in 2008 for US$36 million.
        45 words
      • Article
        Lock icon LC’s new Phuket hotel under InterContinental
        41 11 LC Development Ltd’s new resort in Phuket will be run under the InterContinental brand when it opens in 2014. The signing of the hotel management agreement for InterContinental Phuket Rawai Beach Resort was announced yesterday.
        41 words
      • Article
        Lock icon Nod for Chip Eng Seng unit’s Melbourne devt
        40 11 A CHIP Eng Seng Corporation Ltd subsidiary has received the Australian government’s approval for a A$170 million (S$219 million) residential development in Melbourne. The 71-storey Tower Melbourne will have 581 residential units.
        40 words
      • Article
        Lock icon Hiap Seng unit wins Thai LNG project deal
        37 11 HIAP Seng Engineering Ltd’s 85 per cent-owned subsidiary has received a contract worth around 652 million baht (S$26 million) to provide structural steel fabrication for an LNG terminal project.
        37 words
      • Article
        Lock icon Yoma sets price of 38¢ per rights share
        46 11 YOMA Strategic Holdings has fixed the price of its 1-for-4 rights issue at $0.38 per rights share, a 32.1 per cent discount to the last done price before the issue was announced. Net proceeds could total $109.43 million.
        46 words
    • Article
      Lock icon Aussie fund managers back levies on high-frequency traders
      307 11 Bloomberg [SYDNEY] Australian fund managers want levies to be charged on high-frequency trading firms that send an excessive number of trade orders to equity markets. The Financial Services Council, which represents Australian money managers, pension funds and life insurers that invest more
      Bloomberg  -  307 words
    • Article
      Lock icon Cruel fates send China Paper trail up in smoke
      598 11  -  HOCK LOCK SIEW By KENNETH LIM BOY, Chinese companies in the corporate governance spotlight just can’t seem to catch a break. The latest victim of unfortunate circumstances is China Paper Holdings, which said this week that a fire from a short
      598 words
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      25 8 LIGHTNING STRIKES CATCH THE ALL NEW NISSAN HOT FM91.3 THUNDER TRUCK TUNE IN TO HOT FM91.3 FOR MORE INFO WWW.HOTFM.SG I FACEBOOK.COM/HOTFMSG I J* HOTFMSG
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      1018 8 yrj wats notices Toll free 1800-289-8822 Email notices@sph.com,sg www.cats.com.sg/notices IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF PLD GG8 PTE. LTD, (IN MEMBER'S VOLUNTARY LIQUIDATION) (Company Registration No. *****5007E) NOTICE TO SUBMIT PARTICULARS OF DEBTS OR CLAIMS Notice is hereby given that the creditors
      1,018 words
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      336 8 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF PLD OKCHEON PTE, LTD. (IN MEMBER'S VOLUNTARY LIQUIDATION) (Company Registration No. *****0372C) NOTICE TO SUBMIT PARTICULARS OF DEBTS OR CLAIMS Notice is hereby given that the creditors of the abovenamed Company, whose debts or claims have
      336 words
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      105 9 k in iivii U k r 0 a U j r 1 JIMMY CHOO V'T: 6 IS I oc fe I SI 9 V v: 3* y <j© M S, E m y s 4 > > l^tcHA KORS A END OF SEASON TfOvTi Mandarin Gallery The Shoppes at Marina
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Olam in play as STI loses early gains
      580 10  -  Counter rises 5.7% to $1.475 in cum-rights trading while benchmark index closes a tad lower STOCKS R SIVANITHY Senior Correspondent THE Straits Times Index yesterday initially rebounded 14 points but lost all of this in the late afternoon, ending 1.91 points lower
      Source: Bloomberg  -  580 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 4 7 0 0 0 7 4 7 Manufacturing 52 52 43 6 7 10 58 59 53 Commerce 28 21 19 4 4 2 32 25 21 Tpt/Stor/Comms 21 6 14
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 10 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 23,387 23,387 70,253 70,253 Manufacturing 342,721 255,162 597,883 191,204 2,557 193,761 Commerce 295,097 51,318 346,415 250,049 2,439 252,488 Tpt/Stor/Comms 101,410 16,506 117,916 151,340 5,127 156,466 Finance 92,383 109 92,492 117,614 45 117,660 Construction 50,125 536,262
      121 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      110 10 Stock name Close Change CapMallsAsia 1.970 -0.025 CapitaLand 3.670 -0.010 CapitaMall 2.080 CityDev 13.200 +0.080 ComfortDelGro 1.715 -0.005 DBS Grp 14.900 F&N 9.650 +0.020 GLP 2.720 -0.030 Genting SP 1.360 Golden Agri 0.650 -0.005 HK Land 7.010 +0.080 IHH Healthcare 1.345 +0.005 JMH 61.000 -0.800 JSH
      110 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      73 10 Dec 18 VALUE CLOSE BT OB/OS 516.00 +101.00 BT CADI -*****.00 +87.00 BT 10-day MA -*****.00 +51.00 FTSE ST Mid Cap 764.42 +1.66 FTSE ST Small Cap 510.54 +2.15 FTSE ST All Share 771.85 +0.08 FTSE ST China Top 209.48 +0.52 FTSE ST China 233.20 +0.93 FTSE
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    • Article
      Lock icon MOST ACTIVE STOCKS
      52 10 VOLUME YHM 533,826,000 Cedar 202,962,000 Olam 104,732,000 Geo Energy 78,062,000 Innopac 77,194,000 MDR 71,761,000 *TanChongInt 60,822,000 Rowsley 50,263,000 GSH Corp 46,513,000 WE Hldgs 43,895,000 VALUE($) Olam 153,761,035 SingTel 52,921,996 Noble Grp 44,507,505 CapitaLand 41,235,760 DBS Grp 37,913,388 EzionHldg 36,800,150 Geo Energy 36,272,455 UOB 31,728,700 F&N 29,843,110 CapitaMall
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    • Article
      Lock icon BROKERS’ TAKE
      981 10  -  Compiled by CAI HAOXIANG Ezion Holdings Dec 18 close: $1.555 Maybank Kim Eng Research, Dec 18 EZION has entered into a proposed share subscription agreement with EDB Investments Pte Ltd (EDBI). EDBI is the corporate investment arm of Singapore’s Economic Development Board. EDBI would subscribe for 14.3 million
      981 words
    • Article, Illustration
      Lock icon Signs of progress on US fiscal cliff deal lift euro
      565 10 CURRENCIES Reuters [LONDON] The euro traded near a 71/2month high against the US dollar yesterday on signs of progress in talks to avert the US “fiscal cliff” and on improving investor demand for eurozone assets. Optimism that US policymakers can
      Reuters; PHOTO: BLOOMBERG  -  565 words
    • Article
      Lock icon RISES
      110 10 BY CENTS CLOSE UP GLD 10US$ ***** 139.0 0.7 DBXT MSUSA 10US$ 3514 68.3 1.6 Hyflux 6% CPS 10 ***** 35.0 0.3 SingTel.ES.1212 340 27.0 8.6 Lyxor MS India 10US$ 1390 23.2 1.4 CMProp 2000 22.0 7.5 DBXT MSMSIA 10US$ 1398 20.7 1.2 OCBC Bk.ES.1212 979 20.0 2.1 UE
      110 words
    • Article
      Lock icon FALLS
      126 10 BY CENTS CLOSE DOWN JMH 6100 -97.5 -1.3 DBXT iBoxxSing 5SG$ ***** -64.0 -0.5 DBXT Nifty 10US$ ***** -63.4 -0.5 JSH 3563 -48.8 -1.1 DBXT S&P Short 10US$ 3482 -41.4 -1.0 DBXT MSTHAI 10US$ 2020 -20.7 -0.8 DairyFarm 1125 -18.3 -1.3 DBS Bk 4.7% NCPS 100 ***** -10.0 -0.1
      126 words
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      Lock icon FTSE ST CATALIST INDEX
      5 10 DAILY
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      188 11 [«ATS3 NOTICES EASTERN PALACE PTE LTD UEN Co Reg No: *****0203C (IN MEMBERS’ VOLUNTARY WINDING-UP) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50 that the Final Meeting of the Members of the abovenamed company will be held at 7500A Beach
      188 words
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      335 11 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF PLD YONGIN PTE. LTD, (IN MEMBER'S VOLUNTARY LIQUIDATION) (Company Registration No. **********) NOTICE TO SUBMIT PARTICULARS OF DEBTS OR CLAIMS Notice is hereby given that the creditors of the abovenamed Company, whose debts or claims have
      335 words
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  • SINGAPORE NEWS
    • Article
      Lock icon India, Asean set to unveil FTA on services, investment
      618 12  -  Pact will bring two-way trade target to US$100b by 2015: minister By LEE U-WEN in New Delhi INDIA and the Association of Southeast Asian Nations (Asean) are expected to announce tomorrow that they have finally concluded talks on a free-trade agreement
      618 words
    • Article
      Lock icon Rents on Orchard Road fringes turning soft
      471 12  -  But prime Orchard Road rents stable on healthy demand By ZEINAB YUSUF SAIWALLA RENTALS on the fringes of Orchard Road and the city are showing signs of softening, after recording their first dip in five quarters, figures from CBRE show. Rents of shops
      471 words
    • Article
      Lock icon Swiss central bank to open S’pore office to manage franc
      345 12 Reuters THE Swiss National Bank is opening a branch in Singapore to allow for round-the-clock management of its foreign exchange reserves, which it needs to tap to defend the safe-haven franc from over-heating. The SNB, which imposed a 1.20 per
      Reuters  -  345 words
    • Article
      Lock icon Fitch reaffirms SP’s ‘A+’ credit rating
      388 12  -  Underground cable power project won’t erode balance sheet By RONNIE LIM SINGAPORE Power (SP), which is just starting work on Singapore’s $2 billion next-generation power network, has had its “A+” credit rating affirmed by Fitch Ratings. The mega project involves construction of two ultra-deep,
      388 words
    • Article, Illustration
      Lock icon Singapore’s date with French haute couture
      651 12 Fashion week here offers opportunities for little-known couturiers IHT WHEN Yiqing Yin showed her gentle, beautifully crafted collection under the banner of Haute Couture Fashion Week in Singapore earlier this month, she was, to a certain extent, going “home”. The Chinese-born, Parisbased designer was
      IHT; PHOTOS: AFP  -  651 words
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon MAS orders 36 new planes worth RM3b for 2 subsidiaries
      513 13  -  MOU signed with ATR spells fleet expansion for Firefly and MASwings in Malaysia and the region By PAULINE NG in Kuala Lumpur IN anticipation of increasing trade movements in the Indone-sia-Malaysia-Thailand growth triangle (IMT-GT), Malaysia Airlines (MAS) has ordered 36
      513 words
    • Article, Illustration
      Lock icon Rupiah gains most in 3 months against US dollar
      362 13 Currency seen strengthening on BI move to curb drop Bloomberg [JAKARTA] Indonesia’s rupiah gained the most in three months on speculation the central bank intervened to stem losses in the currency and restore investor confidence. The rupiah has declined 6 per
      Bloomberg; PHOTO: BLOOMBERG  -  362 words
    • Article
      Lock icon KL sets zero tax for palm oil exports to cut reserves
      447 13 Exporters may ship big volumes of the commodity in Jan Bloomberg [KUALA LUMPUR] Malaysia will allow crude palm oil exports at zero duty in January as the world’s secondlargest producer seeks to reduce record stockpiles that drove prices to
      Bloomberg  -  447 words
    • Article
      Lock icon Khazanah to sell controlling stake in TEB
      460 13 Disposal will be last of 5 non-core assets to be divested [KUALA LUMPUR] Khazanah Nasional Bhd will sell all its controlling 45 per cent stake in Time Engineering Bhd (TEB) via a tender to a qualified Bumiputera company. The latest disposal will be
      460 words
    • Article
      Lock icon Indonesia taxi operator plans IPO next year
      401 13 Reuters [JAKARTA] Blue Bird Group, Indonesia’s biggest taxi operator, aims to raise around US$200 million in an initial public offering next year, when demand for Indonesian equity is seen rebounding from 2012, sources said yesterday. The Jakarta-based group is looking at a US$1
      Reuters  -  401 words
    • Article, Illustration
      Lock icon Hon Hai confirms plans for plant in Indonesia
      375 13 Reuters [JAKARTA] Hon Hai Precision Industry Co Ltd, the main contract manufacturer for Apple Inc, has confirmed plans for a handset factory in Indonesia that local officials revealed over the summer but have since said were delayed. Hon Hai said, however, that
      Reuters  -  375 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon More China bankers see monetary easing
      1124 14 External risks still a drag as FDI extends its longest run of falls in 3 years: PBOC Reuters [BEIJING] China’s burgeoning economic recovery may need central bank easing to spur it along next year, as foreign investors scale back spending commitments in the face
      Reuters; PHOTO: REUTERS  -  1,124 words
    • Article
      Lock icon Indian central bank resists govt calls, holds interest rates unchanged
      601 14 But RBI signals monetary easing, citing govt reforms Bloomberg [MUMBAI] India’s central bank left interest rates unchanged for a fifth straight meeting, as the fastest inflation among the biggest emerging nations inhibits scope for monetary easing sought by the government.
      Bloomberg  -  601 words
    • Article, Illustration
      Lock icon Row over job quotas may derail India’s reform plans
      652 14 Reuters [NEW DELHI] A battle over affirmative action for low castes threw the Indian Parliament into disarray on Monday, threatening to derail the government’s ambitious timetable for passing reforms this week that are aimed at opening up Asia’s third-largest economy. The
      Reuters; PHOTO: REUTERS  -  652 words
    • Article
      Lock icon Dirty money costs developing countries US$6t in 10 years
      730 14 Reuters [WASHINGTON] Crime, corruption and tax evasion have cost the developing world nearly US$6 trillion over the past decade, and illicit funds keep growing, led by China, a financial watchdog group said in a new report. China accounted for almost half
      Reuters  -  730 words
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon Uncertain over the effect of uncertainty
      1244 15 Economists divided over whether erratic US policymaking has has affected growth ANALYSIS Reuters [WASHINGTON] Washington thinks that a resolution of the tense debate over the national debt will unlock a burst of economic growth by lifting uncertainty that has stymied investment. It is a
      Reuters; PHOTO: AP  -  1,244 words
    • Article
      Lock icon RBA cuts rates ahead of mining peak: minutes
      488 15 Reuters [SYDNEY] Australia’s central bank said it decided to cut interest rates this month rather than wait because it saw further evidence that the peak in the mining investment boom was near, while the non-re-source sector showed no signs of picking up.
      Reuters  -  488 words
    • Article
      Lock icon New York area factory rebound seen if fiscal stalemate is resolved
      545 15 NY Fed’s economic index falls to -8.1 in Dec from -5.2 in Nov Bloomberg [WASHINGTON] Manufacturing in the New York region shrank for a fifth straight month in December, while an increase in optimism about the next six months
      Bloomberg  -  545 words
    • Article
      Lock icon NZ cuts growth outlook to 2.3%
      505 15 Govt expects small surplus in 2015; analysts say surplus target challenging Reuters [WELLINGTON] The New Zealand government cut its growth forecast to 2.3 per cent in the year to March from the 2.6 per cent it predicted in May, and slashed the size of
      Reuters  -  505 words
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  • WORLD
    • Article
      Lock icon Q3 current account deficit narrows 9% as imports fall
      457 16 The US$107.5b gap is the smallest in almost two years LATEST US DATA Bloomberg [WASHINGTON] The current account deficit in the US narrowed in the third quarter, helped by slowing imports. The gap, the broadest measure of international trade because it
      Bloomberg  -  457 words
    • Article
      Lock icon Moody’s seeks feedback on rating changes
      201 16 Bloomberg [SINGAPORE] Moody’s Investors Service is seeking feedback on changes to the way it rates governments to boost transparency after being criticised for its methodology. The proposed changes will place more importance on economic growth and event risk of countries among its metrics, the
      Bloomberg  -  201 words
    • Article, Illustration
      Lock icon Queen Elizabeth attends Cabinet meeting
      491 16 Southern British Antarctic named after the queen Bloomberg [LONDON] Queen Elizabeth II yesterday became the first British monarch to attend a Cabinet meeting since King George III in 1781 as part of celebrations to mark her 60 years on the throne. The queen, 86, was
      Bloomberg; PHOTO: REUTERS  -  491 words
    • Article
      Lock icon Lloyd’s of London insurers see Sandy losses of US$375m
      412 16 Reuters [LONDON] Three of the Lloyd’s of London insurance market’s leading players owned up to a combined loss of about US$375 million (S$457.5 million) from superstorm Sandy and warned the final bill could change. Bermuda-based insurer Catlin, operator of Lloyd’s biggest
      Reuters  -  412 words
    • Article, Illustration
      Lock icon Apple’s request to ban Samsung phones rejected
      463 16 AP Bloomberg [SAN FRANCISCO] A US federal judge has rejected Apple’s demands that its chief rival in the more than US$100 billion global smartphone market cease selling models a jury recently found illegally used Apple technology. The immediate impact of the ruling means
      AP; Bloomberg; PHOTO: REUTERS  -  463 words
    • Article
      Lock icon Greece raises 1.3b euros in debt auction
      242 16 The sale offers a yield of 4.11% to lenders AFP [ATHENS] Greece yesterday raised 1.3 billion euros (S$2.1 billion) in a three-month treasury bill auction with demand to spare, returning to short-term debt sales after completing an EU-funded debt buy-back last week. “During
      AFP  -  242 words
    • Article, Illustration
      Lock icon BOJ may mull over 2% inflation target
      1071 18 BOJ is likely to ease monetary policy, yielding to pressure from Abe: sources Reuters [TOKYO] The Bank of Japan (BOJ) will ease monetary policy this week and consider adopting a 2 per cent inflation target no later than in January, sources said yesterday,
      Reuters; PHOTOS: REUTERS  -  1,071 words
    • Article, Illustration
      Lock icon Lenders warn of huge risks to Greece’s bailout reforms
      619 18 Reuters [ATHENS] Political resistance and potential court challenges are among “very large” risks to reforms required for Greece’s bailout programme, the country’s European lenders said on Monday. The long-awaited report from the European Commission and the European Central Bank details the
      Reuters; PHOTO: AP  -  619 words
    • Article
      Lock icon Japan’s FSA joins probe into RBS rate-setting
      409 18 Bloomberg [TOKYO] Japan’s Financial Services Agency (FSA) has joined a probe into possible rigging of interest rates at Royal Bank of Scotland Group Plc (RBS), two regulatory officials with knowledge of the matter said yesterday. The FSA earlier this month began reviewing RBS’s
      Bloomberg  -  409 words
    • Article
      Lock icon Relax new liquidity buffer rule, urge US banks
      470 18 Reuters [LONDON] US banks want regulators to ease a rule forcing them to hold large amounts of assets that can be tapped at short notice in a crisis, saying the buffers built up already should be enough. In Europe the EU will
      Reuters  -  470 words
    • Article
      Lock icon Most US papers have mobile Web presence: survey
      444 18 AFP [WASHINGTON] Almost all major US newspapers and magazines have a mobile Web presence, and most of those without one will create one in the coming months, an industry survey showed on Monday. The report by the Alliance for Audited Media (AAM),
      AFP  -  444 words
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      535 16 WATS NOTICES IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF IMP INTERIOR MAINTENANCE PRODUCTS PTE LTD (Co. Reg. No: *****5162G) (IN LIQUIDATION) Extract of the minutes of Corporate Representative at the Extraordinary General Meeting of the member of Imp Interior Maintenance Products Pte Ltd
      535 words
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  • Page 17 Advertisements
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      46 17 GOOD NEWS IF YOU WISH TO SELL YOUR CAR. STCARS 21CVB2 m K s /f k. 5- c*. ,T4f- V 1 tf- »lfr i' >., i|srr mg MT m Jife flW# in j,.- Buy, sell or rent. At STCars.sg, your ideal car isn’t hard to find. STCARS
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  • Transport HUB
    • Article, Illustration
      Lock icon Challenges & opportunities as the Arctic ice melts
      1043 19  - Challenges opportunities as the Arctic ice melts S’pore must heed them since it builds offshore vessels and runs a large international fleet STRAIT TALK By DAVID HUGHES S SIGNS of global warming, the retreating polar ice caps are of concern to those aware of environmental issues and the consequences of
      PHOTO: REUTERS  -  1,043 words
    • Article
      Lock icon Rally in clean tanker rates loses steam
      423 19 Reuters [LONDON] Clean tanker rates for refined petroleum products on top export routes were steady on Monday, although slower business took the steam out of a recent rally in the longrange market. Long Range 1 (LR1) tankers, carrying 55,000 tonne loads from the
      Reuters  -  423 words
    • Article
      Lock icon Insolvent German yard finds buyer
      262 19 Reuters [HAMBURG] A German maker of yachts and naval vessels has agreed to buy insolvent shipyard Peene in a rare deal as the shipbuilding sector in Europe’s biggest economy crumbles. Bremen, Germanybased Luerssen Group is paying less than 20 million euros (S$32 million) to buy
      Reuters  -  262 words
    • Article
      Lock icon Asia to get 70,000 tonnes of US petrol
      374 19 Reuters [SINGAPORE] Asia is to get at least 70,000 tonnes of gasoline from the United States in January, in a rare move, as weak demand in the world’s top oil consumer and tighter supplies ahead in the East revive the reverse trade
      Reuters  -  374 words
    • Article
      Lock icon Nato: Efforts in fighting piracy must continue
      399 19 Reuters [BRUSSELS] Pirate attacks off the coast of Somalia have dropped sharply this year but piracy remains a viable “business model” and could bounce back if international naval forces in the region are cut back, the outgoing commander of the Nato mission said
      Reuters  -  399 words
    • Article
      Lock icon US Coast Guard to decide on fracking wastewater policy
      297 19 Reuters [WASHINGTON] The US Coast Guard hopes to complete a policy in the next few weeks that would allow drillers to ship wastewater from shale gas production by barge over the nation’s inland waterways, a government official said on Monday. Bulk
      Reuters  -  297 words
    • Article
      Lock icon TRANSPORT STOCKS
      248 19 SGX '000 Dec 18 S$ +/-Vol CH Offshore 0.46 unch 79 Chuan Hup Hldg 0.26 unch 112 Cosco Corp 0.89 0.02 ***** S$ Ezra Hldgs 1.14 0.01 5441 First Ship Lea 0.12 unch 297 Freight Links 0.07 unch 1764 Grand Banks 0.31 -0.02 2 Jaya Hold Ltd 0.59
      248 words
    • TRANSPORT HUB: AVIATION
      • Article, Illustration
        Lock icon Airport security gets a little easier in US
        776 20 But the TSA is under pressure to do more to cut queues and improve efficiency NYT [NEW YORK] As 15 million people in the United States head to airports this holiday season slightly fewer than last year some travellers will find welcome
        NYT; PHOTO: AP  -  776 words
      • Article
        Lock icon GE close to buying Italian parts maker Avio
        404 20 Reuters [MILAN] General Electric Co is close to finalising an agreement to buy Italian aerospace supplier Avio as early as this week for more than three billion euros (S$4.8 billion), sources said on Monday. “Barring last-minute surprises, the deal could be closed
        Reuters  -  404 words
      • Article
        Lock icon Etihad stake deal with Jet or Kingfisher soon
        632 20 Reuters [NEW DELHI] Gulf carrier Etihad Airways, seeking to widen operations in India and other Asian markets, is in the final stages of talks to buy part of either Jet Airways or grounded rival Kingfisher Airlines, an Indian government official said on
        Reuters  -  632 words
      • Article
        Lock icon Turkish airline Pegasus switches to Airbus with big order
        457 20 Reuters [ISTANBUL] Turkish low-cost carrier Pegasus Airlines is poised to make its first purchase of European passenger jets with an order for close to 100 Airbus A320-family aircraft, sources said on Monday. The relatively unusual decision to switch suppliers by an
        Reuters  -  457 words
      • Article
        Lock icon Boeing to resume suspended share buyback
        461 20 Bloomberg [SEATTLE] Boeing Co has resumed a US$3.6 billion stock buyback plan that was suspended amid delays on its 787 Dreamliner, and analysts predicted that more cash will be returned to shareholders as profit rises along with jet deliveries. “Investors are certainly expecting more
        Bloomberg  -  461 words
    • TRANSPORT HUB: LAND
      • Article, Illustration
        Lock icon Satisfying customers as COE premiums increase
        412 21  -  BMW looks set to be Singapore’s top brand for a second straight year in 2012 and Neil Fiorentinos is the managing director of BMW Group Asia. Will premiums for COEs continue to climb in 2013? Can they hit the six-figure mark amid tepid deregistrations?
        412 words
      • Article, Illustration
        Lock icon VW well prepared for low CO2 scheme
        436 21 VOLKSWAGEN is this year’s Cat A champ, accounting for about one in every four 1,600cc or under cars registered here. Zeno Kerschbaumer is managing director of Volkswagen Group Singapore. What do you think of your brand’s performance this year? Dr Kerschbaumer: In a
        436 words
      • Article, Illustration
        Lock icon Toyota ready with new and green models
        480 21 TOYOTA is Singapore’s No 3 make and Koh Ching Hong is managing director of Borneo Motors Singapore, the authorised distributor of Toyota and Lexus. How has your brand performed this year? Mr Koh: Overall, in a challenging market environment, our brands have performed
        480 words
      • Article
        Lock icon Toyota set to regain global sales lead from GM
        997 21 Blomberg [MICHIGAN] Toyota Motor Corp is poised to take back the title of world’s biggest carmaker for 2012, as Volkswagen AG fights General Motors Co for second place heading into the final weeks. The battle among the world’s biggest carmakers comes
        Blomberg  -  997 words
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  • Page 20 Miscellaneous
    • Miscellaneous
      Lock icon Page 20 Miscellaneous Column 1
      326 20 CRYPTIC CROSSWORD Across 1 Eagerly grab short sleep in first half of meal (4,2) 5 Vehicles with various escorts going round roundabout (8) 9 How strife is re-enacted within well-marked battle site (8,5) 10 African man embracing one of the Spice Girls (8) 11 Maybe I allowed Cockney woman to
      326 words
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  • Page 21 Advertisements
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      Lock icon Page 21 Advertisements Column 1
      25 21 LIANHE ZAOBAO Number of China's super-rich soars Chongqing aims to become private jet manufacturing base ivw ■niA»v To subscribe, call 6388-3838 or go to sphsubscrlption.com.sg
      25 words
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  • EDITORIAL & OPINION
    • Article
      Lock icon Japan makes a decisive right turn
      510 22 EDITORIAL AFTER six years in opposition, Japan’s right-of-centre Liberal Democratic Party (LDP) is back in the saddle and its leader, Shinzo Abe, has also personally won a new lease of political life. In a stunning change of fortune, the LDP swept 294 out of
      510 words
    • Article, Illustration
      Lock icon China is trying to force Japan’s hand over Senkaku
      780 22  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 CHINA’S dispatch of a marine surveillance plane into the airspace of islands administered by Japan appears to be part of a high-risk
      780 words
    • Article, Illustration
      Lock icon Switching to the global accounting standard
      996 22  -  Singapore should let listed firms make the transition now, if they want to By MARK BILLINGTON The writer is regional director, ICAEW South-east Asia EARLIER this year, the Singapore Accounting Standards Council (SASC) reviewed the plans for converging Singapore’s accounting standards (SFRS) with International
      PHOTO: YEN MENG JIIN  -  996 words
    • Article, Illustration
      Lock icon Giving brand creators a boost
      1250 23  -  A company buying an established brand now gets a tax perk so should the company that built that brand By TAY HONG BENG HARVEY KOENIG The writers are, respectively, head of tax and tax partner at KPMG in Singapore. The views and opinions expressed are
      FILE PHOTO  -  1,250 words
    • Article, Illustration
      Lock icon On fair value and biological assets
      1035 23  -  By NG ENG JUAN The writer is associate professor of accounting at Nanyang Technological University IN recent weeks, there has been much debate on the issue of fair value of biological assets. This article attempts to shed some light on the issue, purely from
      FILE PHOTO  -  1,035 words
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  • Article
    Lock icon The Business Times Shipping Times
    3448 24 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 Destination
    3,448 words
  • Page 24 Advertisements
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  • Page 25 Advertisements
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      Lock icon Page 25 Advertisements Column 1
      123 25 TO ADVERTISE IN .THE Business Times MIL IMVILJ Shipping times CALL JOE WONG I FREIGHT FORWARDER urgently needed by shippers i Can they find your services here in the Shipping Times? the Business Times TO ADVERTISE, CALL JOE WO IMG AT 9620 1327 Shipping Times Boost Your Corporate Image Come
      123 words
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      3118 26 Transaction date: Dec 18 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 146 +0.5 81 146 145.5
      3,118 words
    • Article
      Lock icon SGX CATALIST
      163 27 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale ('000) High Low Buyer Seller C’vr P/E Smil 12.2
      163 words
    • Article
      Lock icon UNIT TRUST & FUNDS
      8609 27 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 0.9851/ EM local Ccy
      8,609 words
    • Article
      Lock icon GLOBALQUOTE
      249 27 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Company 41.5 26 Genting HK US$ US33 -0.5 4057 33.5 33 33 33.5 2172.9 Sale 237 180 TanChongInt HK232 +3 ***** 237 230 232 236 4.3 3
      249 words
    • Article
      Lock icon SGX ETF
      908 27 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Company 128.9 120.4 CIMB APAC Div 100S$D 125 127.7 128.7 105.5 95.8 CIMB APAC Div 100US$ US105 104.5 105.5 11 1323 1246 CIMBASEAN40 100S$D 1290 1331
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      626 28 Dec 18 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT 9848.87 9967.24 9848.87 Mar13 9815.00 9970.00 9760.00 9945.00 *****8 *****3 Jun13 9715.00 9715.00 9715.00 9870.00 10 1560 MSCI TAIWAN INDEX FUTURES SPOT 275.14 275.41 274.20 Dec12 276.00 276.90 274.30 275.50 ***** *****4 Jan13 275.30
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 28 In local curr In S$ In US$ dy yr dy yr dy yr Dec 17 Index Change Change Change Change Change Change World Preliminary 931.8 0.5 12.3 0.5 6.1 0.6 12.7 EAFE Preliminary 763.9 0.0 12.0 0.2 5.9 0.3 12.6 Europe Preliminary 1147.7 -0.1 11.8
      373 words
    • Article, Illustration
      Lock icon SMX MARKET UPDATE
      100 28 As on 17 December 2012 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE PRECIOUS METAL GOLD FUT FEB2013 1700.40 1688.30 1698.10 INDIA GOLD (E-GOLD) FUT FEB2013 569.20 565.45 568.80 CURRENCY EUR-USD FUT DEC2012 1.3164 1.3153 1.3171 EUR-USD FUT MAR2013 1.3181 1.3157 1.3172 BASE METAL COPPER FUT MAR2013 8129 8059
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    • Article
      Lock icon CHICAGO BOT
      107 28 Dec 17 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 13 1496.25 1496.00 1508.75 1492.50 Mar 13 1488.25 1491.50 1501.25 1484.50 May 13 1467.25 1471.50 1481.00 1461.75 Jul 13 1451.75 1453.00 1462.25 1442.75 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Dec 12 49.79
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    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 28 CRUDE OIL PRODUCTS Dec 17 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 108.23 0.43 WTI (Near Mth) 87.33 0.50 Dubai (1-Mth F) 104.05 0.45 Tapis blend 114.45 0.24 Minas 107.73 0.24 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 103.50 1.44 Jet Kerosene 123.93 0.30 US$/barrel OpecOil Basket
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    • Article
      Lock icon US$/S$ FORWARD RATES
      22 28 Dec 18 S$ Bid Offer 1-month 1.2190 1.2192 2-months 1.2190 1.2192 3-months 1.2190 1.2192 6-months 1.2188 1.2191 Source: OCBC
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    • Article
      Lock icon LONDON METALS
      64 28 Dec 17 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2149.75 2138.25 3 months 2105.50 2122.00 Copper, Grade A(US$/tonne) Cash 8038.75 8043.75 3 months 8063.00 8065.00 Lead(US$/tonne) Cash 2287.25 2284.25 3 months 2300.00 2294.00 Nickel (US$/tonne) Cash *****.00 *****.50 3 months *****.00 *****.00 Tin(US$/tonne) Cash *****.00 *****.50 3 months *****.00
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    • Article
      Lock icon LIFFE
      80 28 Dec 17 COCOA (£/tonne) Close Prev High/Low Mar 13 1532 1545 1543/1522 May 13 1539 1551 1549/1530 Jul 13 1545 1556 1555/1535 Sep 13 1549 1560 1554/1539 COFFEE(US$/tonne) Close Prev High/Low Jan 13 1863 1908 1913/1859 Mar 13 1841 1872 1879/1836 May 13 1850 1882 1887/1844 Jul 13 1861
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    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      880 28 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 69 36.00 7 Price BiosensoMBeCW*****3 4.6 -0.1 60 0.4 140 6 Biosensors
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    • Article
      Lock icon INTERBANK CROSS RATES
      470 28 Dec 18 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.036 6.563 0.800 8.161 57.723 101.593 0.884 11.302 3.218 1.250 103.104 43.254 1.284 9.014 0.967 30.591 32.213 0.650 1.053 Canada 0.965 6.334
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    • Article
      Lock icon SIBOR
      60 28 Dec 18 (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
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    • Article
      Lock icon PRECIOUS METALS
      136 28 Dec 18 GOLD(US$/oz) Dec 17 Dec 18 Hong Kong 1697.20 1712.10 Dec 18 Dec 14 Dec 17 London 1696.18 1696.14 1697.13 1697.36 Source: Thomson Reuters CAST BAR Dec 18 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 150 67 5gm 425 333 10gm
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    • Article
      Lock icon GOVERNMENT SECURITIES
      86 28 Dec 18 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****T 21-Mar-13 0.23 6-Month BS*****X 13-Jun-13 0.26 1-Year BY*****X 01-Nov-13 0.26 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0N 0.25 01-Oct-14 101.92 101.96 101.95 5-Year N*****0Z 2.375
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    • Article
      Lock icon PALM OIL
      57 28 Dec 18 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 13 2189.0 2197.0 2200.0 2188.0 109 8793 Feb 13 2276.0 2280.0 2293.0 2267.0 5546 ***** Mar 13 2340.0 2350.0 2355.0 2332.0 ***** ***** Apr 13 2402.0 2410.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 28 Dec 18 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2833 1.2841 1.0528 1.0533 Canadian dollar 1.2387 1.2390 1.0164 1.0163 Euro 1.6043 1.6047 1.3162 1.3163 NZ dollar 1.0264 1.0272 0.8421 0.8426 Sterling pound 1.9747 1.9753 1.6201 1.6203
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    • Article
      Lock icon INTERBANK RATES
      154 28 Dec 18 $S Offer Bid 0vernight 0.03 0.02 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.20 US$ 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 12
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 28 As at 9am Dec 18 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.316 1.254 Can dollar 1.268 1.208 Euro 1.643 1.565 Sterling pound 2.013 1.936 NZ dollar 1.064 1.004 US dollar 1.243 1.184 Local dollars to 100 units of foreign
      121 words
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  • Page 29 Advertisements
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      Lock icon Page 29 Advertisements Column 1
      281 29 The Tools The Trades The TrusT Since 1997 GFT Markets have been providing traders with the best possible trading tools, the best possible value, the best possible service and above all, integrity in everything we do. We offer CFDs and FX with powerful execution and competitive spreads. Talk to one
      281 words
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  • executive Money
    • Article, Illustration
      Lock icon Are dividends the way to go in equities?
      1006 30  -  Firms that grow their dividends can yield a ‘double compounding’ effect. By ANDREW HENDRY By ANDREW HENDRY The writer is MD for Asia at M&G Investments WHILE many investors focus on capital gain as the main source of return from equities, history
      PHOTO: AFP  -  1,006 words
    • EXECUTIVE MONEY
      • Article, Illustration
        Lock icon Prices of puts on China banks falling
        1346 29 Skews for the Big Four are at 7-month to almost 2-year lows; improving economic outlook tempers concerns raised by Fitch Bloomberg [SINGAPORE] PTIONS traders are pushing the cost of hedging against declines in the major Chinese banks to the lowest levels in more
        Bloomberg; PHOTO: BLOOMBERG  -  1,346 words
  • Page 30 Advertisements
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      Lock icon Page 30 Advertisements Column 1
      241 30 MM If insurance companies expect premiums to be paid promptly, shouldn't the same be true for payouts?' With 140 years of experience and over 60,000 employees serving customers around the globe, Zurich delivers for our customers when it matters most. Should you need to make a claim, you can be
      241 words