The Business Times, 7 January 2013
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2013-01-07
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The Business Times
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Title Section25 2013-01-07 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Monday, January 7, 201325 words
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Article, Illustration911 2013-01-07 1 NEIL BEHRMANN - Clear signals that global government, corporate, junk bond markets are in trouble From NEIL BEHRMANN in London THE membranes of global government, corporate, junk and emerging market bond bubbles are now dangerously thin. Two key pointers in the past weekSource: BofA Merrill Lynch Global Strategy, Global financial data, Bloomberg - 911 words
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1066 2013-01-07 1 ANNA TEO - As S’pore dodges technical recession again, MTI explains revised GDP figures By ANNA TEO [SINGAPORE] Time and again, it seemed all but confirmed that a technical recession was at hand only to be averted when the GDP figures were unveiled. This has1,066 words
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MARKETS DIGEST
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Article57 2013-01-07 1 Weekly Change ST INDEX 3,225.22 +33.42 KL COMP 1,692.58 +11.25 NIKKEI 225 10,688.11 +292.93 HANG SENG 23,331.09 +664.50 SET INDEX 1,416.66 +24.73 JAKARTA COMP 4,410.02 +93.33 MANILA COMP 5,971.45 +158.72 SEOUL COMP 2,011.94 +14.89 SHENZHEN B 737.51 +41.19 MUMBAI IND 19,784.08 +339.24 DOW 13,435.21 +497.10 NASDAQ 3,101.66 +141.35 S&P57 words
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Article20 2013-01-07 1 SINGAPORE MALAYSIA MALAYSIA HONG KONG HONGKONG INDONESIA INDONESIA 14.433 TAIWAN 5.036 JAPAN 1.475 KOREA 9,33 BRITAIN Source: Bloomberg20 words
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Article49 2013-01-07 1 US$ S$ US$ (S$ per US$) 1.229 (US$/S$ per 1.606 1.974 EURO (US$/S$/E) 1.301 1.599 Foreign currency per US$ S$ YEN 88.10 71.70 RM 3.049 2.480 HK$ 7.751 6.306 BAHT 30.48 24.80 RUPIAH 9,675 7,870 RENMINBI 6.231 5.068 INDIAN RUPEE 55.01 44.75 A$ 0.959 0.780 NZ$ 1.215 0.98849 words
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Page 1 Advertisements
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Advertisement95 2013-01-07 1 BizIT NFC to pick up as BYOD matures VIEWS FROM THE TOP Wishes for 2013 DINING OUT Zen dining in the heart of town PAGES 10 AND 11 PAGE 23 COMMENTARY JP Morgan needs to shine some light PAGE 3 PAGE 29 lT sfet. PATEK PHILIPPE GENEVE Begin your own95 words
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Advertisement25 2013-01-07 1 BT WEBSITES For breaking news, go to businesstimes.com.sg. For personal finance stories, go to btinvest.com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838. *****1 *****425 words
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TOP STORIES
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Article, Illustration1083 2013-01-07 2 SIOW LI SEN - Mere ring fence to separate retail and investment banking won’t do, they say By SIOW LI SEN [SINGAPORE] British lawmakers are calling for a full break-up of the nation’s largest banks, arguing that only by electrifying the ring fence willFILE PHOTOS - 1,083 words
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Article637 2013-01-07 2 The name is bond and the outlook is very risky THE membranes of global government, corporate, junk and emerging market bond bubbles are now dangerously thin. Two key pointers in the past week indicate that these securities have become very risky for institutions and individuals. FRONT PAGE The637 words
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Article, Illustration870 2013-01-07 2 ROB CURRAN - Alcoa, Wells Fargo results will throw light on economy WALL STREET INSIGHT By ROB CURRAN WITH the “fiscal cliff” brinksmanship out of the way, traders greeted the New Year with a relief rally. The broad Standard Poor’s 500 finished atPHOTO: AP - 870 words
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Article60 2013-01-07 2 IN our report “Kirin’s offer for F&N ‘fair but not reasonable’” (Jan 1, 2013), we said Fraser and Neave independent directors held back from giving their views or recommendations on Kirin Holdings’ $2.7 billion offer for its food-and-beverage business. We would like to point out that F&N independent directors60 words
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751 2013-01-07 3 ANTHONY ROWLEY - Even small firms are moving out today as they want to be near their customers By in ANTHONY ROWLEY in Tokyo THE plunging yen is raising sales and profits suddenly and sharply for Japan’s exporting companies, provoking speculation that some of them751 words
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847 2013-01-07 3 KENNETH LIM - Exactly what does it find ‘not reasonable’ in the OUE-Kirin deal? COMMENTARY By KENNETH LIM THE independent financial adviser to Fraser and Neave (F&N) needs to clear the fog that emerged out of its poorly explained “fair but not reasonable”847 words
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Advertisement96 2013-01-07 2 ALMATY w Seoul Beijing Bangkok' Kuala Lumpur Hong Kong Ho Chi Minh Kuala Lumpur Almaty 3 times a week Ho Chi Minh Almaty jf- 2 times a week Beijing Almaty ■4“ 5 times a week Bangkok Almaty 7 times a week Seoul Almaty Hong Kong Almaty jjs 2 times a96 words
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Advertisement117 2013-01-07 3 u r=s 9SL n Natural gas. Energy for the world. Economic growth for Asia, Energy demand in Asia is expected to be almost 50 percent higher in the year 2040 than it was in 2010. Natural gas will play an increasingly important role in meeting this growing demand, while at117 words
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COMPANY NEWS
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960 2013-01-07 4 R SIVANITHY - HOCK LOCK SIEW By R SIVANITHY OLAMInternational’s“nil-paid” rights trading starts today and will last for about a week. During this trading period, shareholders who do not wish to subscribe to the company’s bond issue can sell their rights to others who are960 words
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Article, Illustration571 2013-01-07 4 CAI HAOXIANG - But securities market activity continued to fall By CAI HAOXIANG IMPROVED trading levels in derivatives and commodities were the bright spots on the Singapore Exchange (SGX) in 2012, according to its monthly market statistics report out yesterday. But as equity investors continuedFILE PHOTO - 571 words
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450 2013-01-07 4 CAI HAOXIANG - By CAI HAOXIANG OCEAN Sky International announced it would sell its main apparel business to a subsidiary of Hong Kong-listed apparel provider Luen Thai Holdings for US$55 million. The sale will mark the end of a journey into the textile business and450 words
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Article250 2013-01-07 4 MAINBOARD-LISTED China Paper Holdings is expected to report a loss for the last three months of 2012, the company said in a profit guidance last Saturday. On a fullyear basis, however, the company is expected to report a profit for 2012. Exact numbers of250 words
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Article293 2013-01-07 4 Jan 4 BANKS Agricultural Bank Of China 5.50 Agricultural Bank Of China Bangkok Bank Public Co. Ltd 6.00 Bank of China Limited 5.50 Bank of Communications Bangkok Bank Public Co. Ltd ...6.00 Bank of China Limited Bank of Taiwan Bank of Communications Bank of Tokyo-Mitsubishi Banque Internationale293 words
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Article250 2013-01-07 4 COMPANY MEETING PLACE DATE TIME Comm Design E The Chevrons 48 Boon Lay Way 07-Jan 10.30am Interra Resources E Tanglin 1 Level 1 RELC Int'l Hotel 30 Orange Grove Road 07-Jan 10.00am Federal Int E 47 Genting Road 08-Jan 9.30am Technics Oil Gas A 72 Loyang Way 10-Jan250 words
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Article1806 2013-01-07 7 ROBERT HALILI - INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Ltd UYING was flat while selling rose among directors, based on filings on the Singapore Exchange during the holiday-shortened week (Dec 31-Jan 4). Directors in seven companies recorded 16 purchases worth $3.91,806 words
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Advertisement159 2013-01-07 4 Park Regis, Hotel Office Development PARK REGIS IUi: 3. -a i j._in i in rij Ii »1 mi For Enquiries, Please Call Tang Wei Leng 6531 8586 The Riverside Piazza Singapore River Riverside Point Swissotel Merchant Court Central Square oPSS ST Av. CQ I ii Singapore Clarke cf Quay S159 words
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Page 5 Advertisements
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Advertisement1677 2013-01-07 5 Olam International Limited Rights Issue Opens Today! 4 1 in Australia e A ifK vV■r' r 4, Dairy processing in Cote d’Ivoire k Vi offee plantation in Lao Olam is a leading global integrated supply chain manager of agricultural products and food ingredients, supplying various commodities across 16 product platforms1,677 words
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SINGAPORE MARKETS
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Article, Illustration675 2013-01-07 6 R SIVANITHY - STOCKS R SIVANITHY Senior Correspondent EQUITY markets everywhere rallied to greet the New Year in the past week, thanks to US lawmakers who managed in the eleventh hour to yank the economy off the edge of the cliff by kicking their fiscal troubles down the675 words
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482 2013-01-07 6 CURRENCIES Bloomberg [NEW YORK] The US dollar closed higher against the euro in the first week of the year after the Federal Reserve suggested that bond-buying operations may end in the middle of 2013 and concern grew that the US willBloomberg - 482 words
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498 2013-01-07 6 COMMODITIES AFP [LONDON] Commodities mostly rallied last week on investor relief as US lawmakers clinched a last-gasp deal to avoid the fiscal cliff of tax hikes and spending cuts in the US, stoking optimism over demand. The fiscal deal was seen as a step,AFP - 498 words
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Article1578 2013-01-07 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price AIMS AMP Capital Ind REIT 2.00 2.00 2 9.25 16.76 1.62 1.55 Amtek Engineering Ltd 3.00 2.83 5 0.05 8.07 0.60 0.51 ARA Asset Management 1.43 1.431,578 words
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Article73 2013-01-07 6 Jan 4 VALUE CLOSE BT OB/OS 918.00 +196.00 BT CADI -*****.00 +163.00 BT 10-day MA -*****.00 +92.00 FTSE ST Mid Cap 786.61 +2.11 FTSE ST Small Cap 534.20 +1.52 FTSE ST All Share 790.52 +0.57 FTSE ST China Top 220.46 +0.13 FTSE ST China 246.97 +0.85 FTSE73 words
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Article54 2013-01-07 6 VOLUME MDR 1,820,449,000 MDR W*****5 766,794,000 Oceanus 565,821,000 Elektromotive 520,206,000 YHM 515,363,000 TT Intl 498,338,000 Contel 464,094,000 GSH Corp 458,807,000 Innopac 447,105,000 ICP 439,374,000 VALUE($) Genting SP 320,059,381 Wilmar 268,173,355 Geo Energy 214,912,855 SingTel 205,467,220 DBS Grp 193,552,184 Golden Agri 187,014,692 CapitaLand 174,899,238 Noble Grp 168,904,915 Olam54 words
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Article113 2013-01-07 6 BY CENTS CLOSE UP IS S&P500 ***** 553.0 3.1 DBXT FTVietnam 10US$ 2300 153.6 5.7 DBXT MSUSA 10US$ 3570 105.7 2.5 DBXT MSAsExJp 10US$ 3415 97.1 2.4 DBXT MSEurope 10US$ 4910 93.4 1.6 Jardine C&C 4920 91.0 1.9 DBXT MSKorea 10US$ 6235 83.6 1.1 Lyxor China H 10US$ 1549113 words
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Article126 2013-01-07 6 BY CENTS CLOSE DOWN GLD 10US$ ***** -242.1 -1.2 DBXT S&P Short 10US$ 3417 -132.7 -3.1 Hyflux 6% CPS 10 ***** -47.0 -0.4 IS DJ US Tech 7110 -29.5 -0.3 UOB 5.05%NCPS 100 ***** -29.0 -0.3 DBS Bk 4.7% NCPS 100 ***** -26.0 -0.2 Asia Pac Brew 5275 -21.0126 words
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Advertisement73 2013-01-07 7 (ll) budget tour Planners Beyond Expectations Discoverthoworldwith Budget Tour Planners We invite you to have a conversation with our team of inspiring Tour Specialists to explore interesting and memorable holiday experiences and offsite meetings for your staff or clients and even your loved ones. We offer customised itineraries that go73 words
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Advertisement343 2013-01-07 7 Prosperity to One and All EuYanSang Welcome the abundance of luck and joy of spring together with us as Eu Yan Sang presents to you loads of great gifts and special offerings this Lunar New Year! Promotions from 28 Dec 2012 to 09 Feb 2013 3“ m m m m343 words
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SINGAPORE NEWS
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Article, Illustration973 2013-01-07 8 CHNG SZE NING - Supply of abalone limited to ensure sustainability, while overfishing has shrunk pool of fish maw, say traders By CHNG SZE NING CONSUMERS of luxury seafood may have to fork out more ahead of the upcoming Chinese New Year, even as they contend withFILE PHOTOS - 973 words
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Article317 2013-01-07 8 Payment Ex Books Pay Ann (cts) date close date date Asia Pacific Breweries ak 85.000 22-Jan 24-Jan 06-Feb 16-Nov Aspial Corporation ay 0.750 03-Dec 05-Dec 22-Jan 21-Nov CapitaMall Trust ch 1.550 27-Nov 29-Nov 28-Jan 04-Dec CapitaMall Trust ES (Nov Dec 2012) ch 1.550 27-Nov 29-Nov 28-Jan 04-Dec Etika317 words
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Article, Illustration164 2013-01-07 8 ROYAL Plaza on Scotts employees celebrated the new year at MINDSVille@Napiri with intellectually disabled children last week. The youngsters were treated to cookies, chocolates, homemade stollen and fruit cakes by hotel staff, in an initiative supported by the Community Chest. The164 words
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Page 8 Advertisements
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Advertisement19 2013-01-07 8 Download the STJobs iPhone, iPad Android App now! At STJobs, your ideal job isn't hard to find. STJOBS .SG19 words
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Advertisement52 2013-01-07 8 13 3X. L—rn n I U n -J -'1 v r -U> I J qJ s. i FIND THE ONES THAT FIT! r; Recruit the right people through CATS Recruit. Call 1800 289 8822 or email recruit@sph.com.sg to advertise. rJ L L WAT-ci RECRUIT j J Mr~> s rJ L52 words
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BT-CITIBANK YOUNG INVESTORS' FORUM
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Article, Illustration1372 2013-01-07 9 CAI HAOXIANG - Millionaire M would be happy only if his name is also Middle, Mainstream or Moderate, reportsCAI CAI HAOXIANG WHO wants to be a millionaire? One million dollars is getting short shrift these days. “$1 Million In Retirement May Not Be Enough”, a Forbes1,372 words
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Article, Illustration898 2013-01-07 9 CAI HAOXIANG - MONDAY MULTIPLE CAI HAOXIANG Reporter HELLO! Happy new year and welcome to The Business Times-Citi-bank Young Investors Forum. This page, published every Monday, is part of Citibank’s corporate social responsibility programme to reach out to those aged 17 to 30 on personal finance and investment issues.898 words
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Page 9 Advertisements
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Advertisement156 2013-01-07 9 Get started now Be a young investor DO you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to156 words
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VIEWS FROM THE TOP
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Article, Illustration5317 2013-01-07 10 THIS WEEK’S TOPIC Given what you think will happen on the economic and social fronts globally and at home, what do you wish for yourself and your organisation in 2013? More generally, what do you wish for Singapore this year? Magnus Böcker CEO SGX WE LOOK forwardST FILE PHOTO - 5,317 words
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Page 11 Advertisements
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Advertisement11 2013-01-07 11 A full list of views from CEOs is available at http://businesstimes.com.sg11 words
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MALAYSIA/INDONESIA
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Article, Illustration920 2013-01-07 12 They contribute 55% of revenue of the world’s second largest consumerproducts company LAT-WP [JAKARTA] Hari Sumarno runs a small shop selling tobacco and household sundries at the Palmerah market in Jakarta, the bustling capital of Indonesia, which has one of the world’s fastest-growing economies. PalmerahLAT-WP; PHOTO: BLOOMBERG - 920 words
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371 2013-01-07 12 [GEORGE TOWN] Borders Malaysia is embarking on an expansion trail by opening two to three stores yearly in the next three to five years to better serve the community, according to the Malaysia’s Business Times. Berjaya Books Sdn Bhd’s chief operating officer Yau371 words
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Article1488 2013-01-07 12 VOL Jan 4 RM +/-(‘000) Abric Bhd (‘000) Advance Synerg 0.15 0.01 1698 Adventa Bhd unch Ae Multi Hldgs 0.24 0.02 1683 Affin Holdings 3.46 0.02 315 Ahmad Zaki Res unch Airasia Bhd Advance Synerg Alliance Finan 0.01 Aluminium Co 0.70 0.01 33 Amalgamated In 0.31 unch 01,488 words
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Page 12 Advertisements
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Advertisement35 2013-01-07 12 Got lucky beating the red lights again and again? Your third time may not be a charm. If you need to, we can help you sell your car when you have no use for it.35 words
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GREATER CHINA/INDIA
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323 2013-01-07 13 Reuters [MUMBAI] India has shortlisted six banks, including Goldman Sachs, Citigroup and Morgan Stanley, for a selldown of state shares worth US$2.3 billion in power producer NTPC Ltd. Others shortlisted by the Indian government’s department of disinvestment for the NTPC offering are Deutsche BankReuters - 323 words
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653 2013-01-07 13 AP [NEW DELHI] From Africa’s crowded Aids clinics to the malarial jungles of South-east Asia, the lives of millions of ill people in the developing world are hanging in the balance ahead of a legal ruling that will determine whether India’s drugAP - 653 words
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Article762 2013-01-07 13 Privileges for mass transit and public transport vehicles among plans Bloomberg [BEIJING] China has pledged to relieve pressure on the nation’s congested roads by supporting the development of environmentally friendly urban transport systems and encouraging measures that may include a ban on parking inBloomberg - 762 words
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Advertisement72 2013-01-07 13 LOGISTICS SEES A PACKAGE. OUR PEOPLE SEE MUCH MORE. At FedEx we know that every package we handle is more than just a package. We know that the success of businesses like yours depends on having suppliers you can count on. That is why we are committed to delivering reliable72 words
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ECONOMY WATCH
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Article, Illustration1325 2013-01-07 14 Mexicans go further up north to Canada for work legally The two countries cooperate on project involving labourers for temporary jobs WP [OJOCALIENTE, Mexico] When Oscar Reyes heads north for seasonal work every spring, he no longer pays a smuggler to sneak him through the desert past the US BorderWP; PHOTO: BLOOMBERG - 1,325 words
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720 2013-01-07 14 NYT [WASHINGTON] With 2013 bringing tax increases on the incomes of a small sliver of the richest Americans, the country’s top earners now face a heavier tax burden than at any time since Jimmy Carter was president. The last-minuteNYT - 720 words
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Article, Illustration867 2013-01-07 14 WP [RIGA, Latvia] Latvia has cut spending so much that even the International Monetary Fund says it’s gone too far. Now the Baltic nation has paid off its 2008 bailout loan before any other nation, deprivingWP; PHOTO: BLOOMBERG - 867 words
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WORLD
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Article, Illustration764 2013-01-07 15 It will insist only governments can solve the crisis and secondly economic data is positive AFP [FRANKFURT] The European Central Bank will usher in 2013 with steady interest rates at its first policy meeting this year to keep up the pressureAFP; PHOTO: REUTERS - 764 words
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562 2013-01-07 15 Results will shed some light on retail prospects for the year ahead Reuters [LONDON] The prospects for consumer spending and the broader British economy will be in focus this week when a host of retailers, including Marks Spencer and Tesco, reportReuters - 562 words
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Article, Illustration1551 2013-01-07 16 Worst hit are small businesses, workers without company health cover NYT [NEW YORK] Health insurance companies across the United States are seeking and winning double-digit increases in premiums for some customers, even though one of the biggest objectives of the Obama administration’s healthcare lawNYT; PHOTO: AFP FILE PHOTO - 1,551 words
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1360 2013-01-07 16 Across the country, deeply conservative organisations angry about the concession on tax increases are pledging more, not fewer, primary challenges to Republicans they believe are straying too far from the party’s orthodoxy on taxes, guns, energy, immigration, spending and abortion. NYT [WASHINGTON] When RepublicanNYT - 1,360 words
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Article, Illustration821 2013-01-07 17 Bid to rid exposure after huge losses from Countrywide Financial acquisition Reuters [NEW YORK] Bank of America Corp is in talks to sell collection rights on US$300 billion of mortgages, two sources familiar with the situation said, in an effort to offload problemReuters; PHOTO: AFP - 821 words
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867 2013-01-07 17 View gains ground among economists in top Wall St firms Reuters [SAN DIEGO] The Federal Reserve could halt its asset purchases this year, two top Fed officials suggested on Friday, a view also gaining traction among economists at Wall Street’s topReuters - 867 words
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Article, Illustration828 2013-01-07 17 AFP [CARACAS] Venezuelan leader Hugo Chavez’s allies staged a show of unity on Saturday, re-electing the ruling party’s Diosdado Cabello as parliamentary speaker, while their president battles cancer in Cuba. The closing of ranks by the United Socialist Party of Venezuela (PSUV)AFP; PHOTO: AP - 828 words
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521 2013-01-07 17 Her alliance faces tough fight to extend hold on Lower Saxony AP [BERLIN] Chancellor Angela Merkel highlighted Germany’s economic strength as she kicked off campaigning on Saturday for an important state vote that comes months before national elections, and she brushedAP - 521 words
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Article, Illustration1257 2013-01-07 18 Worst is over, they say, citing austerity, new ECB role, steps towards integration Washington Post [LONDON] After more than three years of global market turmoil, political upheaval and nail-biting summits, European leaders are declaring the worst of the continent’s debt crisis behind them. InWashington Post; PHOTO: BLOOMBERG - 1,257 words
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Article, Illustration561 2013-01-07 18 Re uters [ROME] Outgoing Italian Prime Minister Mario Monti said last Saturday that if he wins February’s parliamentary election, one of his first acts would be to overhaul the voting law to improve democracy and government stability. Mr Monti, 69,Reuters - 561 words
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852 2013-01-07 18 Reuters [PRAGUE] Czech Finance Minister Miroslav Kalousek admits to asking himself a frequent question about his hard line on budget cuts: “Have we frightened people too much?” His determination to preserve the country’s reputation for sound finances is widely blamed for anReuters - 852 words
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Article, Illustration940 2013-01-07 19 China has overtaken M’sia as Thailand’s biggest source of overseas tourists WP [BANGKOK] Lost in Thailand, a low-budget Chinese comedy about the travels of two rival businessmen and a pancake-maker through Thailand, may help the South-east Asian nation attract a record number of touristsWP; PHOTO: AP - 940 words
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Article, Illustration445 2013-01-07 19 Reuters [BEIJING] Toyota Motor Corp is still dogged by a sales crisis Japanese carmakers are suffering in China as a result of a territorial row between the two countries but December sales proved “surprisingly resilient”, a senior Toyota executive said.Reuters; PHOTO: REUTERS - 445 words
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Article416 2013-01-07 19 Madonna, Stones, Springsteen among top concert earners Reuters [LOS ANGELES] Pop and rock music legends got the better of their younger chart-topping competition on the concert trail in 2012, according to data released on Friday by trade publication Pollstar. Pop matriarch Madonna, 54, led allReuters - 416 words
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362 2013-01-07 19 Reuters [LONDON] A jewellery retailer has imported the world’s first “Fairtrade” and “Fairmined” silver to Britain, in a bid to improve livelihoods of miners working in dangerous conditions and ensure ethical standards and traceability. “Fairtrade” silver pays a premium price to poor, independentReuters - 362 words
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Article, Illustration1180 2013-01-07 20 Foreign lenders say Greece slow in tax collections and in pursuing tax evaders NYT [ATHENS] The tax scandal that reignited in Greece during the holidays had all the makings of a B-grade drama. A former finance minister, George Papaconstantinou, wasNYT - 1,180 words
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Article, Illustration564 2013-01-07 20 But state could provide financing, says Mr Hollande Reuters [VAL-DE-REUIL, France] France will not take over insolvent Swiss refiner Petroplus’ oil refinery in Normandy, but could help the plant financially once a suitable buyer is found, President Francois Hollande said on Saturday. About 500Reuters; PHOTO: REUTERS - 564 words
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506 2013-01-07 20 Reuters [ALGIERS] Turkey will discuss building a liquefied natural gas (LNG) terminal with Qatar on its Aegean coast to help meet rising domestic needs and as Turkey’s role as an energy supplier to Europe grows. The planned terminal on theReuters - 506 words
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391 2013-01-07 20 Action involves US$2.2b in mortgage securities sold to credit unions Reuters [WASHINGTON] The US credit union regulator sued JPMorgan and Washington Mutual late Friday over US$2.2 billion in mortgage securities sold to credit unions that collapsed because of losses from the securities. TheReuters - 391 words
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Article, Illustration312 2013-01-07 20 Reu ters [ZURICH] Swiss pharmaceutical group Roche is no longer considering a bid for US gene-sequencing company Illumina, Chairman Franz Humer was quoted as saying in a newspaper interview yesterday. “Illumina is definitely off the table. They were not willing toReuters - 312 words
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520 2013-01-07 21 Success of deficit cutting policy more important, he says ahead of review Reuters [LONDON] British Prime Minister David Cameron said the credibility of his deficit-cutting policy was more important than the judgment of credit rating agencies, as the threat of third recession since theReuters - 520 words
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Article, Illustration902 2013-01-07 21 Reuters [EN NAHUD, Sudan] Counting piles of banknotes in front of his tiny warehouse, Sudanese trader Maaz Adam is arranging yet another purchase of a red gum which may find its way into a bottle of soda pop drunk a world away fromReuters; PHOTO: REUTERS - 902 words
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333 2013-01-07 21 Reuters [TOKYO] Japanese Finance Minister Taro Aso stressed yesterday the need for bigger monetary and fiscal stimulus to revive the economy, but said the government will not insist on issuing a written policy accord with the central bank on a new inflation target.Reuters - 333 words
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Article, Illustration512 2013-01-07 21 Govt plans grants of as much as A$8,875 to help the people Bloomberg [SYDNEY] Australia’s island state of Tasmania is recovering from wildfires that destroyed more than 100 properties and displaced more than 2,000 people as the continent braces for a second weekBloomberg; PHOTO: REUTERS - 512 words
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429 2013-01-07 21 Re uters [MOSCOW] French film star Gerard Depardieu received a hug from President Vladimir Putin and a new Russian passport yesterday after abandoning his homeland to avoid a new tax rate for millionaires. Mr Putin signed a decree on Thursday granting RussianReuters - 429 words
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Advertisement133 2013-01-07 15 University at Buffalo Singapore’s First Executive MBA Now accepting applications for the 2013 intake. Formal deadline to apply is 31 January. Find out more at our next event: Only UB can bring you all the benefits that come from being Singapore’s First Executive MBA Find out more at our next133 words
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Advertisement737 2013-01-07 16 WATS NOTICES IN THE MATTER OF THE COMPANIES ACT (CAP.50) AND IN THE MATTER OF SPECIALITY FOODS PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) COMPANY REGISTRATION NO. *****9291K NOTICE OF RESOLUTIONS NOTICE IS HEREBY GIVEN THAT AT AN EXTRAORDINARY GENERAL MEETING OF THE COMPANY DULY CONVENED AND HELD AT 20 MAXWELL737 words
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Advertisement680 2013-01-07 17 AT3 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP 50 (“the Act”) AND IN THE MATTER OF JANCO AVIATION PTE LTD (“the Company”) (Co. Reg. No. *****1047H) Notice of Resolutions for Members’ Voluntary Liquidation (Pursuant to Section 290) At an Extraordinary General Meeting of the Company held at 13A680 words
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Advertisement35 2013-01-07 18 WIN CONCERT TICKETS TO DISH HOLiSl ONE L AST TOUR TA 17 JAN 2013 7:30 PM SINGAPORE INDOOR STADIUM TUNE IN TO HOT FM91.3 OR LOG ON TO WWW.HOTFM.SG FOR MORE DETAILS! Midas Promotions www.midaspromotions.com35 words
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Advertisement8 2013-01-07 18 www.omy.sg SSUEl'H5"l)fiBd«^ |g^ER"l'Bia-0tf L, 5 B Eft showbiz.omy.sg8 words
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Advertisement579 2013-01-07 19 KATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF CHASLAND DEVELOPMENT PTE. LTD. (COMPULSORY WINDING UP) CO. REG. NO. *****4079C NOTICE OF WINDING UP ORDER In the matter of Chasland Development Pte. Ltd.. Winding up Order made579 words
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AVIATION/SHIPPING
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Article, Illustration647 2013-01-07 22 But others sceptical that they will be able to pull barge out easily AP [ANCHORAGE, Alaska] Royal Dutch Shell Plc will try to move its grounded drill ship out of the worst of the North Pacific’s fury with a towingAP; PHOTO: AP - 647 words
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401 2013-01-07 22 AFP [LONDON] A team hunting for a rumoured hoard of World War II Spitfire planes in Myanmar left Britain on Saturday to start the dig, comparing the excitement to the discovery of Tutankhamun’s tomb. The 21-strong team believe that there couldAFP - 401 words
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342 2013-01-07 22 Bloomberg [LONDON] BP Plc, the world’s third-largest charterer of ships to carry oil, confirmed an order for 13 of the vessels, 2012’s largest shipbuilding accord for tankers. The order includes three Suezmax ships, each able to hold one millionBloomberg - 342 words
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620 2013-01-07 22 Upgraded A320neo likely to end year with 60% share Bloomberg [SEATTLE] Airbus SAS is poised to maintain a lead in sales of new single-aisle jet models even as it relinquishes the title of world’s largest planemaker to Boeing Co for at least three years.Bloomberg - 620 words
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Article241 2013-01-07 22 SGX '000 Jan 4 S$ +/-Vol CH Offshore '000 Chuan Hup Hldg 0.27 unch 158 Cosco Corp 0.95 unch 7095 Ezra Hldgs 1.24 0.02 6888 First Ship Lea 0.15 0.01 2803 Freight Links 0.07 unch 5419 Grand Banks..............0.37 -0.01 220 Jaya Hold Ltd 0.67 unch 3005 K1Ventures 0.16241 words
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Article, Illustration452 2013-01-07 22 Reuters [NEW YORK] As American Airlines’ board meets next week, expectations are high that it will give more concrete shape to the airline’s plans to either merge with US Airways or stay independent. The directors of parent AMR Corp plan to review aReuters; PHOTO: REUTERS - 452 words
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Page 22 Advertisements
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Advertisement23 2013-01-07 22 High-end property prices may see a 5 to 10 per cent downside risk this year To subscribe, call 6388-3838 or go to sphsubscription.com.sg23 words
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Page 22 Miscellaneous
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Miscellaneous295 2013-01-07 22 CRYPTIC CROSSWORD Across 7 Status seeker on horseback, in front of jump (7) 9 Eccentric back with university, the French count (7) 10 Ram a truck’s rear wheels and this may be broken (5) 11 Completely at a disadvantage, the Conservatives (9) 12 Chief administrator, noted career girl in resort295 words
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DINING OUT
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Article, Illustration655 2013-01-07 23 Debbie Yong - NEW RESTAURANT By Debbie Yong Ki-Sho 29 Scotts Road Tel: *****251 NOTHING quite impresses like taking friends to a hidden restaurant secluded from the masses better still when it turns out to be one right under everyone’s noses in the heart of town.655 words
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Article, Illustration761 2013-01-07 23 Jaime Ee - NEW RESTAURANT By Jaime Ee Buona Terra 29A Scotts Road Tel: 6733 0209 Open for dinner on Monday to Saturday: 6.30pm to 10.30pm. Closed on Sundays. WHEN it came time to carve up restaurant space at this restored colonial bungalow on Scotts Road, how761 words
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Page 23 Advertisements
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Advertisement277 2013-01-07 23 k ie& v. s.r 1 1 0 LUSCIOUS ABALONE .j/t SUCCULENT DELICACY 1 TO 31 JANUARY 2013 i PEACH BLOSSOMS Savour tantalising abalones skillfully presented by Chinese Executive Chef Chan Shun Wong using only quality abalones from Australia, Mexico and South Africa. Don’t miss his specialities such as Double-boiled Abalone277 words
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SINGAPORE STOCKS
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Article3503 2013-01-07 24 Week ended: Jan 4 52-wks Last Vol Week Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last 6 3 A-Sonic Vol Week Last Quote Div GrYld Net M Cap High 171 122 ARA 155 95.5 AIMSAMPIReit Sale3,503 words
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Article357 2013-01-07 25 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last 4.6 1.3 t Advanced System 1.9 +0.2 *****2 2 1.6 1.8 1.9 28.3 Week Last Quote Div Gr Yld 0.4 0.1 t Annica357 words
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Article113 2013-01-07 25 Stock name Close Change CapMallsAsia 2.110 +0.050 CapitaLand 3.800 -0.040 CapitaMall 2.120 -0.010 CityDev 12.980 -0.080 ComfortDelGro 1.800 +0.015 DBS Grp 14.920 +0.080 F&N 9.640 -0.020 GLP 2.770 Genting SP 1.465 -0.005 Golden Agri 0.665 +0.010 Stock name Close Change HK Land 7.110 +0.020 IHH Healthcare113 words
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Article2036 2013-01-07 25 Transaction date: Jan 4 HONG KONG Vol HK$ +/-'000 Aeon Credit Vol Aeon Stores 21.50 0.20 29 Angang Steel 6.55 -0.06 ***** Anhui Conch Anhuiexpresswa 4.56 0.11 1212 Asia Satellite 25.00 0.90 3 Asm Pacific 0.20 Bank Of E Asia 30.50 unch 1271 Beida Jade Bir 6.55 Beijing2,036 words
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Article272 2013-01-07 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 43.5 25.5 AVJennings A34.5 -7 21 40 32.5 33.5 36 3.6 10.1 2.8 89.8 41.5 29 Genting HK US$ US36.5 +2.5 ***** 36.5 33.5 36 36.5 2403.3272 words
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Article186 2013-01-07 25 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 10 6 1 0 0 0 10 6 1 Manufacturing 146 33 22 28 5 4 174 38 26 Commerce 60 11 9 11 4 0 71 15 9 Tpt/Stor/Comms 35 5 5186 words
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Article1062 2013-01-07 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 126 107.1 ABF SG Bond ETF 118.5 -1.5 34 123 107.1 118.5 119 540.9 133.8 120.4 CIMB APAC Div 100S$D 133.8 132.5 133.7 106.3 95.8 CIMB1,062 words
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Article123 2013-01-07 25 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 161,957 161,957 227,967 227,967 Manufacturing 3,016,764 2,086,003 5,102,767 1,046,451 27,472 1,073,923 Commerce 2,810,357 316,339 3,126,696 671,131 13,930 685,061 Tpt/Stor/Comms 647,915 88,368 736,283 677,311 26,921 704,232 Finance 563,089 1,566 564,655 577,439 649 578,088 Construction 967,792 518,663123 words
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Advertisement26 2013-01-07 25 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES26 words
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FINANCE & COMMODITIES
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Article626 2013-01-07 26 Jan 4 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.50 *****.23 *****.24 Mar13 *****.00 *****.00 *****.00 *****.00 ***** *****7 Jun13 *****.00 *****.00 *****.00 *****.00 0 2336 MSCI TAIWAN INDEX FUTURES SPOT 281.00 281.00 279.07 Jan13 281.00 283.00 278.40 279.30 ***** *****5 Feb13 279.10626 words
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373 2013-01-07 26 In local curr In S$ In US$ dy yr dy yr dy yr Jan 4 Index Change Change Change Change Change Change World Preliminary 963.3 0.6 2.7 0.9 2.9 0.3 2.3 EAFE Preliminary 797.1 1.0 2.9 0.9 2.5 0.3 1.8 Europe Preliminary 1181.8 0.5 3.0373 words
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Article, Illustration95 2013-01-07 26 As on 04 January 2013 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE PRECIOUS METAL GOLD FUT FEB2013 1653.90 1626.50 1648.70 INDIA GOLD (E-GOLD) FUT FEB2013 559.85 553.20 556.65 CURRENCY EUR-USD FUT MAR2013 1.3057 1.3011 1.3060 BASE METAL COPPER FUT MAR2013 8152 8097 8141 INDEX IRON ORE (MBIO) IDX95 words
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Article107 2013-01-07 26 Jan 4 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 13 1389.00 1403.00 1414.00 1378.00 Mar 13 1367.25 1386.50 1397.25 1356.00 May 13 1358.50 1378.25 1388.50 1348.00 Jul 13 1355.00 1376.50 1386.50 1345.00 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jan 13 49.42107 words
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Article70 2013-01-07 26 CRUDE OIL PRODUCTS Jan 03 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 112.46 -0.05 WTI (Near Mth) 92.73 -0.11 Dubai (1-Mth F) 106.51 0.11 Tapis blend 118.44 0.55 Minas 111.02 0.55 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 105.56 -0.27 Jet Kerosene 126.51 0.34 US$/barrel OpecOil Basket70 words
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Article22 2013-01-07 26 Jan 4 S$ Bid Offer 1-month 1.2290 1.2298 2-months 1.2290 1.2298 3-months 1.2290 1.2298 6-months 1.2289 1.2298 Source: OCBC22 words
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Article65 2013-01-07 26 Jan 4 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2027.25 2082.50 3 months 2060.00 2116.00 Copper, Grade A(US$/tonne) Cash 8055.00 8136.50 3 months 8085.00 8164.00 Lead(US$/tonne) Cash 2324.75 2390.00 3 months 2335.50 2400.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months65 words
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Article79 2013-01-07 26 Jan 4 COCOA (£/tonne) Close Prev High/Low Mar 13 1422 1433 1434/1417 May 13 1432 1442 1443/1426 Jul 13 1441 1451 1453/1436 Sep 13 1450 1460 1462/1446 COFFEE(US$/tonne) Close Prev High/Low Jan 13 1997 1995 2001/1974 Mar 13 1948 1945 1954/1915 May 13 1955 1951 1960/1925 Jul 13 196479 words
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978 2013-01-07 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 Conv AlliedTech W*****2 Exer BakerTech W*****5 Prem Best World Intl Ltd W*****5 0.5 1 30 65 37.00 6 BiosensoBPeCW*****2 19.6 1.8 15 1 120 6 BiosensoMBeCW*****3 4.4 0.1978 words
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Article470 2013-01-07 26 Jan 4 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.033 6.500 0.802 8.086 57.381 100.930 0.919 11.097 3.180 1.267 101.655 42.672 1.282 9.012 0.969 30.274 31.797 0.650 1.043 Canada 0.968 6.292470 words
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Article66 2013-01-07 26 Jan 4 (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$) 0.***** 3 mths 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths 0.***** SWAP Mid66 words
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Article135 2013-01-07 26 Jan 4 GOLD(US$/oz) Jan 04 Jan 03 Hong Kong 1653.70 1697.00 Jan 04 Jan 03 London 1647.23 1679.20 1648.05 1679.95 Source: Thomson Reuters CAST BAR Jan 04 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 146 65 5gm 416 326 10gm 742 652135 words
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Article93 2013-01-07 26 Jan 4 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****X 04-Apr-13 0.25 6-Month BS*****W 27-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-14 101.87 101.90 101.90 5-Year N*****0Z 2.37593 words
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Article57 2013-01-07 26 Jan 4 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 13 2372.0 2364.0 2390.0 2346.0 345 4528 Feb 13 2438.0 2438.0 2461.0 2423.0 4651 ***** Mar 13 2478.0 2474.0 2495.0 2462.0 ***** ***** Apr 13 2517.0 2510.057 words
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Article155 2013-01-07 26 Jan 4 US$ Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2817 1.2831 1.0430 1.0434 Canadian dollar 1.2407 1.2420 1.0100 1.0096 Euro 1.5987 1.5998 1.3009 1.3010 NZ dollar 1.0114 1.0127 0.8230 0.8235 Sterling pound 1.9728 1.9747 1.6053155 words
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Article121 2013-01-07 26 As at 9am Jan 04 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.312 1.250 Can dollar 1.270 1.210 Euro 1.636 1.559 Sterling pound 2.010 1.933 NZ dollar 1.048 0.989 US dollar 1.250 1.191 Local dollars to 100 units of foreign121 words
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Article157 2013-01-07 26 Jan 4 $S Offer Bid 0vernight 0.01 par 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.01 US$ Offer Bid 7 days 0.22 0.12 1 month 0.28 0.18 2 months 0.40 0.20 3 months 0.45 0.25 6 months 0.65 0.45 9 months 0.80 0.60 12157 words
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Article3015 2013-01-07 27 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 STXPO TBN Camden/New3,015 words
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Advertisement42 2013-01-07 27 shfp maintenance rvices wanted. Can -they find your services here in -the Shipping Times? TO ADVERTISE. CALI IOE WO IMG AT 9620 1327 THE BUSINESS TIMES Shipping Times Shippers looking for Warehouse Can they find your services here in the Shipping Times?42 words
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Advertisement18 2013-01-07 27 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times Shipping Times18 words
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Advertisement105 2013-01-07 28 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 M Announce Your Corporate Developments Come publicise your Corporate Developments, Corporate Image, Company Anniversaries, Award Winsjk A pF M, Certifications, Ship Christenings Delivery of Newbuilds, Project105 words
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Advertisement15 2013-01-07 28 TO ADVERTISE IN The Business Times IML UUJIMLJJ I IIVILJ Shipping Times CALL JOE WONG15 words
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BizIT THE BUSINESS OF INFOCOMM TECHNOLOGY
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Article, Illustration1147 2013-01-07 29 VICTORIA HO - Development of near-field communication technology is expected to get a big boost in 2013, reportsVICTORIA VICTORIA HO IF LAST year was the year of BYOD (bring your own device), experts say enterprises which were quick to support mobile devices are going to see1,147 words
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Article, Illustration967 2013-01-07 29 AMIT ROY CHOUDHURY - Enterprise mobility expected to grow along with risks Consumerisation of IT seen as a trend that’s here to stay By AMIT ROY CHOUDHURY A CROSS-SECTION of business leaders in Singapore expect enterprise mobility to further cement its position in the information technology landscape this year. Canon Singapore’s head of domesticFILE PHOTO - 967 words
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BIZIT ROUNDTABLE: CLOUD COMPUTING
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Article, Illustration3221 2013-01-07 30 RESEARCH agency Gartner has predicted that by 2016, the global cloud computing market is expected to grow to US$206.6 billion from US$91.4 billion in 2011. Another research firm, IDC, has said that by 2016, in the mature Asia-Pacific, excluding Japan (APEJ) markets, over 503,221 words
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Page 29 Advertisements
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Advertisement106 2013-01-07 29 THE SOUND VISION SPECIALIST AV ONE 201 2 COLLECTIONS 1 H Zikmu designed by Philippe Starck Now: $2,688 Black,White, Red Available Custom AV Room Feature Wall Design AV ONE TOTAL AUDIO VISUALISM" A Sony, Infocus, Panasonic Full HD 3D Projector Made in Japan. From $2,699-$35,000 I PMC, Lindemann Hifi/Cinema System106 words
