The Business Times, 12 January 2013
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2013-01-12
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The Business Times
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Title Section20 2013-01-12 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g JANUARY 12-13, 2013 S$1.00 MICA (P) 075/08/2012 sfjl A SINGAPORE PRESS HOLDINGS PUBLICATION20 words
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Article, Illustration1430 2013-01-12 1 Kalpana Rashiwala - Sweeping cooling measures take in several sectors, expected to dampen speculation across the board By Kalpana Rashiwala kalpana@sph.com.sg Singapore THE government yesterday announced its seventh and most sweeping package of property cooling measures in over three years. Deputy Prime Minister and1,430 words
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Article, Illustration647 2013-01-12 1 Anthony Rowley - Monetary easing is next on the cards as Japan’s PM sets about kick-starting growth By Anthony Rowley btworld@sph.com.sg Tokyo JAPANESE Prime Minister Shinzo Abe has stepped up his war on economic stagnation and deflation by announcing over 10 trillion yen647 words
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Page 1 Advertisements
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Advertisement29 2013-01-12 1 the WEALTH Five things that shaped Asia in 2012 30-31 the raffles conversation FUJI XEROX PRESIDENT TADAHITO YAMAMOTO 10-11 CEOS’ HAWKER CHOICES Teochew treats L10-12 LIVING Greenhouse effect L2-529 words
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TOP STORIES
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MARKETS
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Article59 2013-01-12 2 HSTI 3,216.50 (-9.75) HSTI FUTURES 3,216.00 (-10.00) HSIMSCI 365.00 (-0.75) ESIMSCI FUTURES 365.20 (unch) STOCKS Friday Change KL COMP 1,682.70 -1.87 NIKKEI 225 10,801.57 +148.93 HANG SENG 23,264.07 -90.24 SET 1,412.06 +6.07 JAKARTA 4,305.91 -11.45 MANILA 6,051.75 +33.18 KOSPI 1,996.67 -10.13 SHENZHEN B 736.39 -10.12 MUMBAI IND 19,663.08 +0.0959 words
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Article29 2013-01-12 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.334 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.50 INDIA 14.50 Source: Bloomberg29 words
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Article48 2013-01-12 2 US$ S$ US$ (S$ per US$) 1.225 (US$/S$ per 1.616 1.979 EURO(US$/S$/€) 1.328 1.626 Foreign currency per US$ S$ YEN 89.00 72.70 RM 3.023 2.468 HK$ 7.753 6.329 BAHT 30.27 24.71 RUPIAH 9,655 7,883 RENMINBI 6.214 5.073 INDIAN RUPEE 54.62 44.59 A$ 0.946 0.772 NZ$ 1.188 0.97048 words
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681 2013-01-12 2 Ong Chor Hao - EC apartment floor space capped at 160sqm, HDB loans tightened; rule on use of CPF savings for shorter-lease flats from July By Ong Chor Hao ongch@sph.com.sg Singapore THE PUBLIC housing sector, as well as the hybrid executive condominium (EC) market, will681 words
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493 2013-01-12 2 Mindy Tan - Expected measure to check speculation reasonable: analysts By Mindy Tan tanmindy@sph.com.sg Singapore A SELLER’S stamp duty (SSD) is being introduced on industrial properties for the first time, as the government tries to rein in market speculation that has caused a doubling493 words
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514 2013-01-12 3 Pauline Ng - Minimum price may be raised to RM1 million in bid to cool property prices, says official By Pauline Ng btworld@sph.com.sg Kuala Lumpur IN A BID to rein in prices because of the growing interest in Iskandar Malaysia, Johor is mulling a doubling514 words
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534 2013-01-12 4 Lee U-Wen - Many questions on both issues filed for year’s first Parliamentary sitting, which will also see history made with first female Speaker elected By Lee U-Wen leeuwen@sph.com.sg Singapore TWO issues are set to dominate the first Parliament sitting of 2013 on Monday: the534 words
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505 2013-01-12 4 Lee U-Wen - Candidate to come from SDP; if elected, WP to run Punggol East town council By Lee U-Wen leeuwen@sph.com.sg Singapore THE Singapore Democratic Party (SDP) has made a radical proposal to the Workers’ Party (WP): Join us in fielding a single505 words
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775 2013-01-12 5 Helmi Yusof - A yet-to-be-named autonomous festival director will take over reins from government By Helmi Yusof helmi@sph.com.sg Singapore AFTER 35 years of being govern-ment-led, the Singapore Arts Festival is set to become an independent festival company helmed by an autonomous festival director. The National Art Council775 words
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Article, Illustration647 2013-01-12 5 Kenneth Lim - SATURDAY SOAPBOX Kenneth Lim kenlim@sph.com.sg Correspondent ARE you running helter skelter about the Fraser and Neave (F&N) takeover battle? Do you feel like the fool on the hill? Want someone to please, please help you? Let The Beatles answer your F&N647 words
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597 2013-01-12 6 Teh Shi Ning - The ongoing restructuring of the economy will continue to mean low growth and high inflation, adds UBS’s Kelvin Tay By Teh Shi Ning tshining@sph.com.sg Singapore SINGAPORE is experiencing “mini stagflation”, as its inflation is likely to remain high for structural reasons even as growth stays597 words
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747 2013-01-12 6 Neeta Lal - Govt aims to bolster lending, help them meet capital adequacy norms By Neeta Lal btworld@sph.com.sg New Delhi IN a major move to bolster lending by banks, and help them meet capital adequacy norms, the Indian government has approved the747 words
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Article, Illustration1475 2013-01-12 8 Kalpana Rashiwala - Kishore Buxani, who heads the Buxani Group, has a nose for sniffing out undervalued assets, reports Kalpana Rashiwala Singapore KISHOREBuxanihad a headstart in the real estate business. When he was 12, he and his elder brother Haresh started ploughing through the classified ads to helpPHOTO: ARTHUR LEE - 1,475 words
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Page 2 Advertisements
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Advertisement95 2013-01-12 2 CONTENTS NEWS Top Stories 2-8 Week in Review 9 Raffles Conversation 10-11 Companies 12-15 From the Desk of 16 Singapore 17-18 World 19, 21-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-35 Show Me The Money 33 House Hunt 34 LIVING Design L2-5 Dining L6-8 Style L9 CEOs’ Hawker Choices L10-1295 words
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Page 3 Advertisements
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Advertisement11 2013-01-12 3 CATS Recruit The first step on your ladder to success CLA/AUG06/g11 words
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Advertisement50 2013-01-12 3 cpMiifl CENTALINE PROPERTY Meyer Vicinity m OPEN HOUSE By Appt Only Brand New Semi-D Out of The Box Tree House Design. High Ceiling Upto 3 Storey High. L; 3390 sqft B: 5000 sqft HanrikTanCEA Reg No. :R*****71 6438 8998/9489 3352 Centaline (Singapore) Property Agency Pte. Limited CEA Licence No.: L*****36Z50 words
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Advertisement168 2013-01-12 3 OOD CLASS BUNGALOW FOR SA 11 cCALDECOTT ***** sf. Face nature reserve, quiet private. Nice land. S21.8M CLUNY *****/ 9000 sf. 3 min walk to Botanies Gdn ENG NEO AVE ***** sf. Beautiful tropical house. EWART PK ***** sf. Beautiful modern house FORD AVE ***** sf Hilltop designer decor wide168 words
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Page 4 Advertisements
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Advertisement188 2013-01-12 4 THE BUSINESS TIMES SATURDAY SPECIAL Have a drink on us! Enjoy a complimentary bottle of wine worth $60 when you present this advertisement to SALTA Argentine Parrilla Grocer in Icon Village. VENUE Icon Village, 12 Gopeng Street, #01-56, (S)*****7, Tel: 6225 8443 Website: www.saltaparrilla.com.sg TERMS CONDITIONS L D5JMJ2%JK .?!%9 (J5188 words
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Page 7 Advertisements
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Advertisement79 2013-01-12 7 BUYING OR RENTING A PROPERTY? We'll reward you with $888! Visit www.STProperty.sg/deal2win now for more information. Hurry, you have until 31 March 2013 to be one of our 8 lucky winners!' I vm m u W*y tel 52 J i 2 2 Z! B 5! ft -t 'Terms conditions apply79 words
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WEEK IN REVIEW
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THIS WEEK Jan 7-11, 2013
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42 2013-01-12 9 THE membranes of global government, corporate, junk and emerging market bond bubbles are now dangerously thin. Two recent key pointers indicate that these securities have become very risky for institutions and individuals.42 words
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60 2013-01-12 9 BRITISH lawmakers are calling for a full break-up of the nation’s largest banks, arguing that only by electrifying the ring fence will retail banks be protected from the greed of bankers, who otherwise, will under the guise of innovation look60 words
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65 2013-01-12 9 THE plunging yen is raising sales and profits for Japan’s exporting companies, provoking speculation that some of them could soon begin “re-shoring” back to Japan their production facilities from overseas. The truth could turn out to be different as the companies could65 words
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36 2013-01-12 9 SINGAPORE is losing its attractiveness to global multinational companies as a location from which to manage business in Asia, a new survey by The Economist Corporate Network suggests.36 words
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50 2013-01-12 9 IS the $1.41 million Rolls-Royce Phantom that Fragrance budget hotel chain tycoon James Koh bought defective because it failed to give him a “whisper-quiet interior” or a “magic carpet ride” when negotiating a three-point turn? Or is his lemon claim a phantom one?50 words
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39 2013-01-12 9 GLOBAL regulators gave banks four more years and greater flexibility on Sunday to build up cash buffers so they can use some of their reserves to help struggling economies grow.39 words
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35 2013-01-12 9 IN A BID to avoid opening blues, Malaysia has deferred the start date for its spanking new budget terminal to June 28 or a month later than planned.35 words
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58 2013-01-12 9 THE Singapore Exchange will report daily short sales volumes for every counter beginning in March as it aggressively pursues leadership status in the field of risk management and transparency. With the rule, traders will have to tag as a short sale any trade in58 words
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60 2013-01-12 9 OLAM International’s nil-paid rights, which traded at a high of 22.5 US cents when they opened on Monday, plunged to an intraday low of 7 US cents on Tuesday in tandem with a slide to a corresponding low of $1.58 in the60 words
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58 2013-01-12 9 MANY businesses in Singapore feel that last year’s Budget was not useful to them, compared with the one of 2011 with a number saying that some of the initiatives had in fact, increased their operating costs. Their biggest hopes are for Budget 201358 words
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51 2013-01-12 9 THE difference between small and big car COE premiums narrowed to their smallest ever when the former jumped more than $10,000 to a record high. A certificate of entitlement in Category A for cars below 1,600cc surged $10,211 to $92,100 on51 words
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Article, Illustration75 2013-01-12 9 KOH Poh Koon, the 40-year-old colorectal surgeon, was formally in- troduced by Teo Chee Hean, the first assistant secretary-general of the People’s Action Party, as the party’s candidate for the Punggol East constituency by-election. Polling Day is Jan 26. DR KOH ‘I owe myPHOTO: KEVIN LIM/THE STRAITS TIMES - 75 words
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42 2013-01-12 9 AFTER a year of coughing and sputtering, China’s trade engine roared back to life. Exports soared 14.1 per cent in December from a year earlier well above 2.9 per cent growth in November.42 words
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49 2013-01-12 9 For the first time in its history, the Port of Singapore’s gantry cranes moved more than 30 million twen-ty-foot container boxes last year. In 2012, Singapore moved 31.6 million twenty-foot equivalent units, 5.7 per cent more than 2011’s 29.9 million TEUs.49 words
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Article93 2013-01-12 9 US DATA Jan 15 Producer Price Index for December Retail sales for December Jan 16 Consumer Price Index for December Industrial production for December Jan 16 Housing starts for December Philadelphia Fed survey for January EVENTS Jan 15 VIENNA Euromoney conference on central and eastern93 words
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Page 9 Miscellaneous
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Miscellaneous315 2013-01-12 9 Across 1 Possibly one’s private abomination (3,8) 9 Angostura put out for Jason’s crew (9) 10 Fights for the best theatre seats (5) 11 A song from Iolanthe, maybe (6) 12 Understood devil came to a lawful end (8) 13 Raises new taxes, accepting pound (6) 15 New star dies315 words
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Miscellaneous9 2013-01-12 9 SATURDAY with Ludwig Would you mind not reading aloud?9 words
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THE RAFFLES CONVERSATION
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Article, Illustration2226 2013-01-12 10 / 11 Amit Roy Choudhury - Fuji Xerox president Tadahito Yamamoto is ready to turn the copier maker into a document services and communications company. By Amit Roy Choudhury By Amit Roy Choudhury amit@sph.com.sg THE concept of genko-itchi Japanese for walking the talk is central to the management philosophy of Tadahito Yamamoto.2,226 words
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COMPANY NEWS
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Article, Illustration579 2013-01-12 12 Jasmine Ng - Succession planning to ensure a company’s vitality is a key challenge By Jasmine Ng jasng@sph.com.sg Singapore ONE of the greatest challenges for listed firms here is finding the next generation of management to take the helm and ensure the company’s vitality. This was579 words
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119 2013-01-12 12 CIMB Securities has been named the top brokerage firm on the Singapore Exchange (SGX) by market share, and also bagged the Top Asean SGX-ST Member 2012 Award. Receiving the awards at the SGX Broker Appreciation and Awards Night held on Jan 8, the119 words
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408 2013-01-12 12 Teo Si Jia - By Teo Si Jia teosj@sph.com.sg Singapore ORNAMENTAL fish group Qian Hu Corporation achieved higher revenue for the fourth quarter last year but ended the three months with a net loss attributable to equity-hold-ers of $49,000, against a net profit of $886,000 a year408 words
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342 2013-01-12 13 Andrea Soh - Bulk of funds obtained through placement of 190m shares will go to vessel building and chartering projects By Andrea Soh sandrea@sph.com.sg Singapore OFFSHORE vessel builder Nam Cheong plans to raise $47 million in net proceeds through the placement of 190 million shares. The pre-market news,342 words
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Article, Illustration376 2013-01-12 13 Joyce Hooi - By Joyce Hooi joyceh@sph.com.sg Singapore THE sale of STX Corporation’s stake in STX Pan Ocean continues to make headway, with the appointment of two lead managers for the deal, the latter said yesterday. STX Corporation currently owns aboutPHOTO: BLOOMBERG - 376 words
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319 2013-01-12 13 Angela Teng - By Angela Teng angeteng@sph.com.sg Singapore EOC Ltd, an associate company of Ezra Holdings, recorded a 91 per cent year-on-year plunge in profit to US$747,000 for the first quarter ended Nov 30, 2012. This came as revenue for the three months319 words
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Article161 2013-01-12 13 Bloomberg Hong Kong COMMODITY supplier Noble Group Ltd has agreed to boost its stake in Aspire Mining Ltd and to help fund the explorer’s railway in northern Mongolia as it seeks to expand coal shipments from the nation. The Hong Kong-based trader will payBloomberg - 161 words
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Article, Illustration605 2013-01-12 14 R Sivanithy - STOCKS R Sivanithy sivan@sph.com.sg Senior Correspondent NOW that the US fiscal cliff problem has been pushed back by a month or two at least until debt ceiling and spending cuts talks begin the market this week focused its energies on punting penny stocks605 words
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Business briefing
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50 2013-01-12 14 STARHILL Global Real Estate Investment Trust’s (Starhill Global Reit) manager said that it is in discussions for the Reit to potentially acquire Plaza Arcade at Hay Street Mall in Perth, Western Australia. No definitive agreement has been entered into, it said.50 words
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53 2013-01-12 14 GUTHRIE GTS Ltd has set up a $500 million multicurrency medium-term note programme. It will use net proceeds from the issue of notes for making investments or acquisitions, funding property development or asset en- hancement projects, refinancing existing borrowings, working capital requirements and for53 words
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76 2013-01-12 14 STX OSV Holdings Ltd said that Tidewater Inc has entered into an assignment agreement with STX Pan Ocean Co Ltd to take over three platform supply vessels (PSVs) originally under construction at STX OSV in Norway. The first vessel in the series76 words
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Article192 2013-01-12 14 VOL CLOSE IPCO I nt l 1 ,004,989 2 V4 0.1 4 .0 Cedar 719 ,1 26 0 .9 0 .2 28 .6 Nam Cheong 247 ,877 26 .5 2 .0 7 .0 Oceanus 240 691 5.3 0.2 3 9 YHM 200 526 3.7 0.1 2 6192 words
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Article112 2013-01-12 14 Stock name Close Change CapMallsAsia 2.140 -0.020 CapitaLand 3.890 -0.050 CapitaMall 2.130 -0.030 CityDev 12.60 -0.040 ComfortDelGro 1.855 -0.025 DBS Grp 14.70 -0.130 F&N 9.730 +0.040 GLP 2.740 Genting SP 1.460 -0.015 Golden Agri 0.640 -0.020 HK Land 7.500 +0.110 IHH Healthcare 1.390 -0.010 JMH 60.90 -1.290 JSH112 words
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Article61 2013-01-12 14 BY CENTS CLOSE UP IS S&P500 ***** 318.4 1.8 GLD 10US$ ***** 117.6 0.6 Lyxor Malaysia 10US$ 999 82.1 7.2 Hyflux 6% CPS 10 ***** 60.0 0.6 Asia Pac Brew 5300 25.0 0.5 Jardine C&C 4889 21.0 0.4 Lyxor China H 10US$ 1535 19.6 1.1 DBXT MSAsExJp 10US$61 words
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Article59 2013-01-12 14 BY CENTS CLOSEDOWN JMH 6090 -158.0 -2.1 DBXT S&P Short 10US$ 3380 -35.5 -0.9 DBXT FTVietnam 10US$ 2544 -34.3 -1.1 DBXT MSINDO 10us$ 1487 -15.9 -0.9 UOB 1922 -15.0 -0.8 DBXT CSI300 10US$ 808 -14.7 -1.5 DBS Grp 1470 -13.0 -0.9 JSH 3580 -12.3 -0.3 DBS Bk 4.7%59 words
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373 2013-01-12 14 Bloomberg Hong Kong EMERGING-market equity funds recorded their biggest-ever weekly inflows as the US budget deal and China’s economic rebound fuelled investor demand for riskier assets. The funds attracted a net US$7.4 billion in the week ended Jan 9 and assets under management reachedBloomberg - 373 words
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482 2013-01-12 15 Ven Sreenivasan - Passenger numbers up for Tiger Singapore; recovery in Australia even more impressive By Ven Sreenivasan ven@sph.com.sg Singapore TIGER Airways Holdings enjoyed a significantly stronger year-on-year boost in loads and passenger numbers in December last year, as it recovered from a difficult 2011. The latest482 words
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367 2013-01-12 15 Cai Haoxiang - By Cai Haoxiang haoxiang@sph.com.sg Singapore WATER treatment company Hyflux said yesterday that the water purchase agreement for its first large-scale project in India has been finalised and signed. The agreement between Dahej SEZ Limited (DSL) and a special purpose company that Hyflux is in,367 words
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Page 12 Advertisements
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Advertisement24 2013-01-12 12 ALL-NEW! SUBSCRIBE TODAY AND WIN A HOME DECOR HAMPER WORTH $300! WIN $10,000 WORTH OF SPACE MAKEOVERS FROM ABSOLUT OUTDOORS! MORE DETAILS AT www.homeanddecor.com.sg/promotions24 words
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Page 15 Advertisements
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Advertisement48 2013-01-12 15 'It ij ft ill $2.05 million for an executive condo in Tampines? Find a more affordable home on STProperty.sg si if-Wm Si 4 Hi J 1 4 Download the STProperty App for iPhone iPad now! At STProperty, your ideal property isn’t hard to find. f STProperty.SG STPropertySG STPROPERTYsg48 words
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FROM THE DESK OF
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Article, Illustration1095 2013-01-12 16 Doug Stotland - With everyone connected, putting your brand out on social media is a compelling and highly effective way to advertise with that old marketing strategy: word of mouth FROM THE DESK OF Doug Stotland Director (Asia Pacific), Facebook IF you had a choice1,095 words
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SINGAPORE NEWS
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Article, Illustration672 2013-01-12 17 Siow Li Sen - It is now two places behind S’pore, putting pressure on the Republic to retain its standing as a major RMB centre By Siow Li Sen lisen@sph.com.sg AUSTRALIA has jumped from practically nowhere to become the fourth largest offshore renminbi centre, two spots behindPHOTO: REUTERS - 672 words
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283 2013-01-12 17 Cai Haoxiang - By Cai Haoxiang haoxiang@sph.com.sg PSA International saw an increase in container throughput at its ports in 2012 despite a challenging year for shipping amid a weak global economy. It handled 60.06 million stand-ard-sized containers at its port projects around the world last year,283 words
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281 2013-01-12 17 Andrea Soh - By Andrea Soh sandrea@sph.com.sg HAVING a big enough nest egg for retirement may be one of Singaporeans’ topmost financial concerns, but half of them don’t know how much they would need. Even fewer or one-third have a formal retirement plan, an annual survey by281 words
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Article, Illustration633 2013-01-12 18 Ong Chor Hao - Prices rose 1 3.4% in 201 2, outpacing the 1 0.4% growth of the previous year, despite a fall in transaction volumes By Ong Chor Hao ongch@sph.com.sg RESALE prices of non-landed private residences grew at a faster pace last year despite aSource: Singapore Real Estate Exchange and URA - 633 words
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253 2013-01-12 18 Jasmine Ng - By Jasmine Ng jasng@sph.com.sg COCA-COLA Singapore Beverages has amended its supply agreements with on-premise retailers, such as bars, nightclubs and restaurants, to allay concerns over potential anti-competitive issues. The Competition Commission of Singapore (CCS), the competition watchdog, has started investigations in the local253 words
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Briefing
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61 2013-01-12 18 THE Urban Redevelopment Authority (URA) has extended the tender closing date for the residential site at Jurong West Street 41 (Parcel A), originally scheduled to close on Jan 15. In light of the government’s package of measures to cool the property61 words
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66 2013-01-12 18 THE Public Utilities Board has issued an alert that localised flash floods, especially in low-lying coastal areas, may occur over the next few days. High tides of at least 3.4 metres and heavy downpours are expected from Jan 12 to 15, it said66 words
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Page 18 Advertisements
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Advertisement44 2013-01-12 18 value for <c -> Pillai Rd old frh 3 drrn Low psf near R'n° charm$1.045m. 5 9oon N£X. OLD S "HP' I CHARM Check this out and many other properties in CATS Classified in The Straits Times now! WATS BUY IT• SELL IT• FIND IT44 words
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WORLD
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Article, Illustration694 2013-01-12 19 Higher-than-expected December figures cause worst 4-month loss for mainland shares Reuters Hong Kong CHINA shares suffered their worst day in nearly four months yesterday, dragging Hong Kong into the red, after December inflation data came in higher than expected, crimping hopes of fresh monetaryReuters; PHOTO: REUTERS - 694 words
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Article, Illustration617 2013-01-12 19 Reuters Sydney NATHAN Tinkler, whose meteoric rise made him Australia’s pre-eminent coal baron, is set for a crash-landing as his main financial backer moves closer to a sale of the former billionaire’s stake in Whitehaven Coal, sources said. The sources toldReuters - 617 words
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Article, Illustration738 2013-01-12 21 Operators call for overhaul of complex rules that boosted high-speed trading and fragmentation of equity markets NYT Bloomberg New York CONFIDENCE-SHAKING technology mishaps have been an almost daily occurrence at US stock exchanges in the new year. The latest example came on WednesdayNYT; Bloomberg; PHOTO: BLOOMBERG - 738 words
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417 2013-01-12 21 AFP Brussels EUROZONE head Jean-Claude Juncker offered some hope on Thursday that the eurozone’s new rescue fund could help ease the burden on countries that had to bail out banks before it became operational. The issue is especially important for Ireland,AFP - 417 words
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Briefing
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99 2013-01-12 21 Bloomberg New Delhi India’s factory output contracted in November as a holiday season skewed industrial production in Asia’s third-larg-est economy. Output at factories, utilities and mines fell 0.1 per cent from a year earlier after a revised 8.3 per cent gain in October,Bloomberg - 99 words
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90 2013-01-12 21 Bloomberg LondonHSBC Holdings plc, faced with growing concern its plan to sell a US$9.4 billion stake in Ping An Insurance (Group) Co will fail, said it has no material information to disclose about the negotiations. “HSBC confirms that it is notBloomberg - 90 words
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63 2013-01-12 21 AP SeoulSouth Korea’s central bank cut its forecast for the country’s economic growth this year due to slower corporate investment and uncertainties about the global economy. The Bank of Korea said yesterday that Asia’s fourth-largest economy will likely expand 2.8 perAP - 63 words
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464 2013-01-12 22 Pre-holiday surge in imports and rebound in demand for foreign automobiles main reasons for surprise widening of gap latest us data Bloomberg Washington THE trade deficit unexpectedly widened in November as American retailers stocked up on imported goods for the holidays and demandBloomberg - 464 words
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Article, Illustration448 2013-01-12 22 AP Washington THE US Federal Aviation Administration (FAA) is launching a comprehensive review of the critical systems of Boeing’s 787, the aircraft maker’s newest and most technologically advanced plane, after a fire and a fuel leak earlier this week, the agency said yesterday.AP; PHOTO: AP - 448 words
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Page 20 Advertisements
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Advertisement233 2013-01-12 20 The Business Times Subscription rewards Get all these exclusive gifts' when you subscribe to the new Business Times All-In-One. I I Specially Designed Leather Case that can hold 2 Bottles of Wine $100 Far East Hospitality Hotel Staycation Voucher Charriol Fragrance 105 ml (Eau de Toilette Pour Homme) Henschke Henry’s233 words
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Page 22 Advertisements
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Advertisement51 2013-01-12 22 SIM Global Education is hiring Associate Lecturers ExxonMobil is looking for Financial Analysts/ Controllers Wearnes Automotive is recruiting a Service Manager Club 21 has a position open for a Style Services Manager Rockwell Automotive has a vacancy for a Firmware Engineer Check out more than 500 positions available in CATS51 words
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Article8415 2013-01-12 23 Transaction date: Jan 11 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 15 11.4 8Telecom 14.2 13.8 14.7 66.8 0.4 3.4 68 6 3 A-Sonic 4.9 +0.6 213 5 4.5 4.5 4.9 2.7 35.18,415 words
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Article1850 2013-01-12 26 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 14.3 t 800 Super 19.8 -0.2 60 19.8 19.6 19.6 20.5 3.3 5.1 5.9 35.4 4 3 t AA Grp 3.1 2.6 5 31,850 words
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Article186 2013-01-12 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 5 7 0 0 0 5 5 7 Manufacturing 61 60 45 7 9 12 68 69 57 Commerce 28 29 19 3 5 2 31 34 21 Tpt/Stor/Comms 21 17 6186 words
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Article123 2013-01-12 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 26,212 26,212 58,549 58,549 Manufacturing 866,985 982,399 1,849,384 340,173 11,665 351,838 Commerce 476,946 28,661 505,607 150,895 1,630 152,525 Tpt/Stor/Comms 234,747 17,879 252,626 319,332 5,630 324,962 Finance 55,491 691 56,182 204,420 284 204,704 Construction 1,110,807 200,716123 words
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Article787 2013-01-12 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Jan 7 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Khong Guan Flour Mill 9-Jan-13 Goh Tee Kia *Buy 6 1.94 2035 7.88 2041 7.91 QAF Ltd787 words
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MARKETS
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Article79 2013-01-12 27 Jan 10 COCOA (£/tonne) Close Prev High/Low Mar 13 1442 1426 1444/1428 May 13 1451 1435 1452/1437 Jul 13 1459 1444 1460/1445 Sep 13 1467 1453 1470/1455 COFFEE(US$/tonne) Close Prev High/Low Jan 13 1968 1961 1977/1964 Mar 13 1918 1911 1931/1912 May 13 1928 1922 1942/1922 Jul 13 193779 words
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Article67 2013-01-12 27 Jan 11 GOLD(US$/oz) Jan 10 Jan 11 Hong Kong 1671.00 1683.00 Jan 09 Jan 10 London 1658.74 1676.01 1659.74 1676.94 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 37.88 37.24 Source: UOB PLATINUM Lon (US$/oz) Jan 10 Close Previous PM Fix 1621.00 1593.00 AM Fix 1613.00 1590.00 Source:67 words
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Article57 2013-01-12 27 Jan 11 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 13 2251.0 2275.0 2265.0 2251.0 70 2694 Feb 13 2326.0 2339.0 2334.0 2298.0 1386 ***** Mar 13 2376.0 2387.0 2377.0 2332.0 ***** ***** Apr 13 2411.0 2419.057 words
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Article88 2013-01-12 27 Jan 11 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 11-Apr-13 0.25 6-Month BS*****E 11-Jul-13 0.27 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-14 101.87 101.91 101.91 5-Year N*****0Z 2.37588 words
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Article154 2013-01-12 27 Jan 11 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2948 1.2954 1.0572 1.0575 Canadian dollar 1.2447 1.2456 1.0168 1.0164 Euro 1.6258 1.6266 1.3275 1.3278 NZ dollar 1.0307 1.0315 0.8416 0.8420 Sterling pound 1.9784 1.9792 1.6154 1.6157154 words
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Article, Illustration95 2013-01-12 27 As on 10 January 2013 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE PRECIOUS METAL GOLD FUT FEB2013 1678.70 1656.20 1678.20 INDIA GOLD (E-GOLD) FUT FEB2013 566.05 560.15 564.70 CURRENCY EUR-USD FUT MAR2013 1.3081 1.3047 1.3258 BASE METAL COPPER FUT MAR2013 8184 8180 8179 INDEX IRON ORE (MBIO) IDX95 words
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Article103 2013-01-12 27 Jan 10 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jan 13 1417.50 1419.75 1429.50 1414.50 Mar 13 1379.75 1385.50 1394.75 1376.25 May 13 1371.50 1375.25 1383.50 1368.00 Jul 13 1367.25 1372.25 1379.75 1364.00 SOYBEAN/OIL(60,000 lbs; USc/lb) Close Previous High/Low Jan 13 49.39 49.24 49.71 49.25103 words
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Article68 2013-01-12 27 Jan 10 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 111.72 0.79 WTI (Near Mth) 93.78 0.66 Dubai (1-Mth F) 108.15 1.27 Tapis blend 119.78 1.24 Minas 115.68 1.24 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 106.33 -0.06 Jet Kerosene 128.71 0.59 US$/barrel OpecOil Basket Price 109.0168 words
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Article118 2013-01-12 27 Jan 11 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.325 1.262 Can dollar 1.273 1.213 Euro 1.661 1.582 Sterling pound 2.013 1.936 NZ dollar 1.066 1.006 US dollar 1.247 1.188 Local dollars to 100 units of foreign currency: Currencies Sell118 words
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Article69 2013-01-12 27 Jan 10 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2080.00 2040.25 3 months 2113.50 2075.00 Copper, Grade A (US$/tonne) Cash 8084.50 8046.00 3 months 8115.00 8080.00 Lead (US$/tonne) Cash 2321.50 2298.50 3 months 2333.50 2315.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.5069 words
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373 2013-01-12 27 In local curr In S$ In US$ dy yr dy yr dy yr Jan 10 Index Change Change Change Change Change Change World Preliminary 964.5 0.2 2.8 0.2 2.8 0.5 2.7 EAFE Preliminary 798.4 0.3 3.1 0.6 2.8 1.0 2.7 Europe Preliminary 1183.7 0.0 3.2373 words
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STOCK MARKETS
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Article, Illustration20 2013-01-12 27 YTD change: +1.56% 52-week high: 3,237.78 on Jan 7,2013 52-week low: 2,698.90 on June 4,2012 Source: BloombergSource: Bloomberg - 20 words
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Article, Illustration20 2013-01-12 27 YTD change: +2.68% 52-week high: 23,486.60 on Jan 11,2013 52-week low: 18,056.40 on June 4,2012 Source: BloombergSource: Bloomberg - 20 words
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Article, Illustration21 2013-01-12 27 YTD change: -1.15% 52-week high: 2,478.38 on Feb 27,2012 52-week low: 1,949.46 on Dec 4,2012 Source: BloombergSource: Bloomberg - 21 words
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Article, Illustration19 2013-01-12 27 YTD change: +3.91% 52-week high: 10,830.43 on Jan 11,2013 52-week low: 8,238.96 on June 4,2012 Source: BloombergSource: Bloomberg - 19 words
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Article, Illustration26 2013-01-12 27 YTD change: +2.80% 52-week high: 13,661.87 on Oct 5,2012 52-week low: 12,035.09 on June 4,2012 (Chart shows Thursday’s index closing) Source: BloombergSource: Bloomberg - 26 words
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PERSPECTIVE
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Article, Illustration1353 2013-01-12 28 / 29 Leon Hadar - American strategist Edward Luttwak’s provocative thesis argues that China’s growing military and economic power will inevitably provoke counter-balancing measures from its neighbours but there are many problems with this analysis Leon Hadar Washington correspondent btworld@sph.com.sg American foreign policy makers and analysts have been focusingPHOTO: AFP; PHOTO: BLOOMBERG - 1,353 words
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Article828 2013-01-12 28 / 29 Bala Shankar - By Bala Shankar ~The writer is adjunct professor at SMU and NTU and founder director of NPS International School ‘THE single most important thing to remember about any enterprise is that there are no results inside its walls. The result of a business is a828 words
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Wealth
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WEALTH INVESTING
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Article, Illustration1326 2013-01-12 30 / 31 Jiang Fan - Power transitions, individual feats, territorial disputes, China’s soft landing top the list. WEALTH INSIGHT Jiang Fan The writer is chief investment strategist in Asia, JP Morgan Private Bank THE year 2012 has been an eventful one, not only in Europe and the US,PHOTO: AFP - 1,326 words
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Article825 2013-01-12 30 / 31 Joyce Hooi - Compiled by Joyce Hooi Tat Hong Holdings Buy DBS GROUP RESEARCH Jan 11 Close: $1.47 WE showcased TAT as one of our companies to more than 30 investment professionals in our recent Pulse of Asia Conference in Singapore on Jan 8. Our key takeaway from the conference is825 words
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Article, Illustration1127 2013-01-12 32 Since the start of last year, the S&P500 index has never ended a trading day below its 2011 closing level NYT New York ON May 30, 1982, Cal Ripken Jr played a solid game in the infield for the US Major Baseball League team,NYT; PHOTO: AFP - 1,127 words
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Article, Illustration1219 2013-01-12 33 Teh Hooi Ling - Compounding in life and in investments While the better-skilled people or products would come out ahead, luck plays a part too SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior Correspondent WE all know about the power of compounding in investments. Let’s say A, B and C start with $10,000PHOTO: AFP; Compiled by BT with data from Datastream - 1,219 words
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WEALTH REAL ESTATE
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697 2013-01-12 34 Transactions were made before an expected jump in capital gains taxes on Jan 1 Bloomberg New York J CHRISTOPHER Flowers, founder of private-equity firm JC Flowers Co, on Dec 27 bought a US$20 million co-op apartment in New York in a cash deal.Bloomberg - 697 words
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Article512 2013-01-12 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN DEC 12 AND DEC 18, 2012 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED V On Shenton Apt 12/12/2012 99 452 1147 2537 District 5 NON-LANDED Parc Imperial512 words
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1691 2013-01-12 35 As ad revenue keeps falling along with demand, newsrooms are getting replaced by condos, hotels and casinos Bloomberg Los Angeles Newspaper owners in the United States, struggling with plunging demand and advertising spending at a six-decade low, are squeezing money out of the assetsBloomberg - 1,691 words
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Page 36 Advertisements
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Advertisement75 2013-01-12 36 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. C O N G R AT U L AT I O N S L E O M E S S I AWARDED WORLD BEST FOOTBALL PLAYER FOR A RECORD 4TH CONSECUTIVE YEAR WITH A HISTORIC 91 GOALS IN ONE CALENDAR YEAR.75 words
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Advertisement54 2013-01-12 1 LivingBTTHE BUSINESS TIMES WEEKEND JANUARY 12 13, 2013 DINING Catch of the day L6-7 CEOs’ HAWKER CHOICES Teochew porridge L10-12 GREENHOUSE EFFECT Three showcases of eco design and sustainable living L2-5 TRAVEL Timeless grandeur L14-15 GADGETS Fresh out of Vegas L9 MOTORING 1 for the road L20 GUEST CHEF Corey54 words
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BT Living
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DESIGN
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Article, Illustration796 2013-01-12 2 / 3 Tay Suan Chiang - The sustainable living movement gains traction in three properties that we showcase here: a city hotel, a house in the suburbs, and a downtown apartment. By Tay Suan Chiang By Tay Suan Chiang SOME hotels pride themselves on their achingly cool design; others trumpet their hip location. ThePHOTOS BY YEN MENG JIIN - 796 words
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Article, Illustration796 2013-01-12 2 / 3 THE current wet spell notwithstanding, the weather here toggles between hot and hotter. Air-conditioning is not a luxury, but often a necessity. But try telling that to the Biyanis, a family of six who have a 21/2 -storey house in Tanjong Katong, designed to work with nature. There,796 words
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Article, Illustration846 2013-01-12 4 / 5 JUST because you want to have a green home doesn’t mean you have to give up creature comforts or spend a lot on fancy things such as solar panels or water tanks. They’re good to have but they’re not essential. Eco-architect Jason Pomeroy says the firstPHOTOS BY JOHN HENG - 846 words
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DINING
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Article, Illustration2224 2013-01-12 6 / 7 Debbie Yong, Sara Yap - Singaporeans just can’t seem to get enough of their seafood. Debbie Yong and Sara Yap haul in a fresh batch of seafood eateries Debbie Yong, Sara Yap debyong@sph.com.sg sarayap@sph.com.sg The Naked Finn 41 Malan Road, Gillman Barracks #01-13 Hours: 6pm to 12am Mon-Sat THEY say thatPHOTOS OF ABSINTHE BY YEN MENG JIIN; PHOTOS OF LE PETIT NAVIRE BY DEBBIE YONG - 2,224 words
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Article35 2013-01-12 6 / 7 Correction clarification IN yesterday’s wine column by NK Yong in the Executive Lifestyle section, it was inaccurately stated that Latour 2000 en primeur cost 17 euros per bottle. It should be 170 euros per bottle.35 words
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Article, Illustration1201 2013-01-12 8 Debbie Yong - Benu’s Corey Lee tells Debbie Yong about finding inspiration in Asia, his take on the word fusion, and learning to be his own judge guest chef Debbie Yong debyong@sph.,com.sg THEY not only share similar cooking styles and comparable careers in person,Corey Lee and Andre Chiang even look1,201 words
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GADGETS
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Article, Illustration640 2013-01-12 9 Christopher Lim - The International Consumer Electronics Show bursts at the seams with larger-than-life prototypes each year that mostly don’t make it to the market. But here are some which have bucked the trend and well on their way to gizmo stardom. By Christopher Lim By Christopher Lim limchris@sph.com.sg Razer Edge Starting640 words
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CEOS' HAWKER CHOICES 2013
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Article, Illustration2808 2013-01-12 10 / 11 Dylan Tan; Tay Suan Chiang; Natalie Koh; Debbie Yong; Tan Teck Heng - Teochew cuisine is known for its lighter cooking style and use of steaming, poaching and braising which makes it healthier. Traditional dishes like steamed pomfret and salted vegetable duck soup go great with a bowl of porridge. Here are the top five Teochew porridge eateries as voted byPHOTOS OF JOO SENG TEOCHEW PORRIDGE AND LIM JOON HIN EATING HOUSE BY YEN MENG JIIN; PHOTO: YEN MENG JIIN - 2,808 words
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Article, Illustration502 2013-01-12 12 Tan Teck Heng - By Tan Teck Heng btnews@sph.com.sg Ernest Ng Managing director RedDot Brewhouse CONVENTIONAL wisdom states that porridge is cooked, and beer, brewed. But that’s all just semantics to Ernest Ng. The microbrewer, who grew up on porridge, says the two are fundamentally similar. “We’re dealing with starch502 words
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FOOD
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Article, Illustration535 2013-01-12 13 Bloomberg FRENCH Open champion Maria Sharapova is turning her sweet tooth into a profitable business. She spent US$500,000 to set up Sugarpova, her own candy brand, and the 25-year-old from Russia may more than double her money in the first year alone. She introduced it yesterdayBloomberg; PHOTO: AP - 535 words
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TRAVEL
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Article, Illustration1313 2013-01-12 14 / 15 Jaime Ee - Bangkok’s The Siam is a suite-and-villa retreat that spares no expense in distilling the mystique of old Siam. By Jaime Ee By Jaime Ee ~The Siam, Thanon Khao, Vachirapayabal,Dusit,Bangkok, ***** www.thesiamhotel.com SOME partnerships are made in heaven, some are sealed in dating agencies and still others are forgedPHOTOS: THE SIAM, JAIME EE - 1,313 words
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SPORTS
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Article, Illustration678 2013-01-12 16 Lee U-Wen - no holds barred Lee U-Wen leeuwen@sph.com.sg Correspondent HE IS turning 32 this year, an age when many others in his sport are already contemplating hanging up their racquets. But mention the word “retirement” to Roger Federer, and the Swiss tennis champion is quickPHOTO: AP - 678 words
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624 2013-01-12 16 jason de la pena - kick off with jason de la pena ~Jason de la Pena is a presenter on SportsCenter every weekday on ESPN at 7.30pm MANCHESTER United versus Liverpool is a rivalry that transcends footballing passions both on and off the pitch. The624 words
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GOLF
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Article, Illustration1005 2013-01-12 17 Justine Moss checks out three golf clubs in a country that may not seem an obvious destination for golfing btnews@sph.com.sg LAOS may not be an obvious destination on golfers’ itineraries, but it has a handful of first-class golf courses in the capital Vientiane as wellPHOTO: JUSTINE MOSS - 1,005 words
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MOTORING
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Article, Illustration705 2013-01-12 18 Samuel Ee - The seventh generation Volkswagen Golf excites with its revolutionary construction. By Samuel Ee samuelee@sph.com.sg SOME things get better with age like a good vintage and, it seems, the Volkswagen Golf. The seventh generation of this compact hatchback may not look particularly exciting because of its evolutionary styling,705 words
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Article, Illustration568 2013-01-12 19 Samuel Ee - With COE premiums this high, why not take the used route to that luxury car? Samuel Ee looks at five pre-owned premium models Samuel Ee samuelee@sph.com.sg AS COE premiums continue to skyrocket, some buyers of luxury cars prefer not to spend all that money on a piece of568 words
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Article, Illustration572 2013-01-12 20 Samuel Ee - The BMW M135i is the first petrol-engined model from the M Performance range. By Samuel Ee samuelee@sph.com.sg I T MAY look like any other 1 Series but the BMW M135i is actually a very special hot hatch. It is the first petrol-engined model from the M572 words
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Advertisement74 2013-01-12 10 / 11 YOUR CONSTANT IN TIME OF CHANGE Knight Frank Knight Frank Office Leasing Team offers expert real estate services for all commercial matters relating to office occupation. These services include relocation, expansion, consolidation, lease renewal or restructuring and rent review negotiations. Call Knight Frank Office Team at 6228 6889 or visit74 words
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Advertisement33 2013-01-12 13 HOME NEE S i Call in the experts and stop that leak! To find out more, turn to CLASS 118 in CATS Classified in The Straits Times now. WATS BUY IT-SELL IT-FIND IT33 words
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Advertisement790 2013-01-12 13 wine&dine with BTWeekend Atrium Lounge Level 4, Marina Mandarin Singapore 6 Raffles Boulevard Z6845 1111 A La Minute Delight, Jan 1 to 31, 2013 This January, savour freshly-made desserts of your choice at Atrium Lounge. Choose from the irresistible Cherries Jubilee, the tangy Crêpes Suzette and Strawberries Flambé. To enhance790 words
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