The Business Times, 7 February 2013

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Total Pages: 30
1 30 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Thursday, February 7, 2013
    25 words
  • Article, Illustration
    Lock icon Govt sketches out contours of the crisis
    935 1  -  Without right choices, a greying society, fewer jobs and falling property prices loom By ONG CHOR HAO [SINGAPORE] Imagine Singapore in 2030, if nothing is done to mitigate the population crisis heading its way. The population has aged rapidly, with just 2.1 working
    Source: MND  -  935 words
  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 GST INDEX 3,276.53 (+3.87) GST INDEX FUTURES 3,277.00 (+4.00) GSIMSCI 369.78 (+0.39) GSIMSCI FUTURES 369.20 (+0.90) US$ S$ US$ (S$ per US$) 1.238 (US$/S$ per 1.565 1.936 EURO (US$/S$/€) 1.352 1.673 Foreign currency per US$ S$ YEN 93.70 75.70 RM 3.099 2.504 HK$ 7.753 6.265 BAHT 29.79 24.07 RUPIAH
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    • Article
      Lock icon MARKETS
      48 1 Wednesday Change KL COMP 1,614.14 -19.21 NIKKEI 225 11,463.75 +416.83 HANG SENG 23,256.93 +108.40 SET INDEX 1,500.35 -5.37 JAKARTA COMP 4,498.98 +19.54 MANILA COMP 6,431.35 -39.14 SEOUL COMP 1,936.19 -1.99 SHENZHEN B 854.84 +7.12 MUMBAI IND 19,639.72 -20.10 11am EST Change DOW 13,960.79 -18.51 NASDAQ 3,170.20 -1.38
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    • Article
      Lock icon PRIME RATES
      18 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.840 TAIWAN 5.036 JAPAN 1.475 Bloomberg Source: Bloomberg
      18 words
  • Article, Illustration
    Lock icon Markets cheer for Abenomics, with BOJ governor’s early exit
    788 1  -  By in ANTHONY ROWLEY in Tokyo THE Tokyo stock market leapt by 4 per cent to its highest level in more than four years yesterday as the yen went into something approaching free fall following Bank of Japan governor Masaaki Shirakawa’s
    788 words
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      Lock icon Page 1 Advertisements Column 1
      188 1 COMMENTARY Is 6.9 million really too much for Singapore? PAGE 20 S’PORE NEWS Finance sector leads in CEO salaries: study PAGE 10 PROPERTY Link Holdings buys Medini Iskandar site PAGE 30 COMPANIES Divestment gain boosts DBS Q4 profit to $1.2b PAGE 5 **********04 IWC Portuguese. Engineered for navigators Portuguese Perpetual
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  • TOP STORIES
    • Article
      Lock icon DBS sees growth in mortgages falling by half
      500 2  -  By SIOW LI SEN [SINGAPORE] DBS Bank’s local mortgages growth could halve this year as the residential property market slows, said chief executive Piyush Gupta. The bank’s Singapore loan book is about $100 billion and mortgages make up about $37 billion, up
      500 words
    • Article, Illustration
      Lock icon Pfizer to close clinical research unit here
      667 2 Move comes mid-way through its 10-year lease at Raffles Hospital Reports by LYNN KAN [SINGAPORE] The Republic’s clinical research aspirations took a step back as Pfizer, the world’s largest drugmaker, pulled the plug on its dedicated clinical research outfit at Raffles Hospital mid-way
      PHOTO: REUTERS  -  667 words
    • Article
      Lock icon EDB prepares for wave of jobs in biologics led by Novartis
      559 2 [SINGAPORE] With the first piles driven into the ground at Novartis’s US$500 million state-of-the-art plant in Tuas yesterday, the Swiss pharmaceutical giant and the Singapore Economic Development Board (EDB) which wooed it here turned their attention to the next
      559 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      423 2 Govt sketches out contours of the crisis NATIONAL Development Minister Khaw Boon Wan told Parliament that Singapore’s population is ageing rapidly and the labour force is shrinking. “If nothing is done, there will be less job opportunities for our young and not enough healthcare workers for our old.
      423 words
    • Article, Illustration
      Lock icon EDB starts honing analytics skills for Data Centre Park
      222 2 [SINGAPORE] Even before the first biologics plant broke ground in Singapore in 2007, Singaporeans were being trained to take up biopharmaceutical manufacturing jobs. About 270 Singaporeans were sent abroad to be trained at overseas biologics plants in firms such as GlaxoSmithKline
      222 words
    • Article
      Lock icon SICC opposes further curbs on foreign labour
      398 4  -  They may jeopardise S’pore’s position as an an Asia-Pacific business hub, it says By TEH SHI NING [SINGAPORE] Further foreign labour curbs could jeopardise Singapore’s current standing as an AsiaPacific business hub, the Singapore International Chamber of Commerce (SICC) said in a statement
      398 words
    • Article
      Lock icon MDA watching EPL telecast rights matter closely
      427 4  -  By JOYCE HOOI [SINGAPORE] THE Media Development Authority (MDA) is keeping an eye on negotiations for the broadcast rights to English Premier League (EPL) matches, as well as the potential for loopholes in the cross-carriage laws, Minister for Communications and Information Yaacob Ibrahim
      427 words
    • Article, Illustration
      Lock icon Tackle issue together, urges Chok Tong
      773 4  -  Aims include letting the young pursue their dreams, seniors to age with dignity POPULATION DEBATE By LEE U-WEN [SINGAPORE] The government has made the right move in dealing with Singapore’s population conundrum now in order to prevent the ship from sinking in the long
      FILE PHOTO  -  773 words
    • Article, Illustration
      Lock icon Next-gen HDB flats will be better designed: Khaw
      395 4  -  By ONG CHOR HAO [SINGAPORE] The future of Singapore will look like Punggol, National Development Minister Khaw Boon Wan said yesterday, but just how might this pan out? Mr Khaw told Parliament that the next generation of public housing would be even
      PHOTO: SEAH KWANG PENG/THE STRAITS TIMES  -  395 words
    • Article
      Lock icon Passenger car COEs slide further from record high
      363 4  -  By JOYCE HOOI [SINGAPORE] Premiums for the Certificate of Entitlement (COE) pulled back for passenger cars in the latest round of bidding which closed yesterday. The premium for Category A cars 1,600cc and below fell for the second consecutive bidding round to
      363 words
  • Page 2 Advertisements
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      Lock icon Page 2 Advertisements Column 1
      538 2 KPMG Seminar Series Goods and Servic s Tax (GST) Seminar GST Essentials: Applying GST to your business activities KPMG Seminar Series Date Thursday, 14 March 2013 Time 9.00am to 5.00pm Venue Orchard Hotel Singapore 442 Orchard Road Singapore *****9 Seminar Fees KPMG Client Alumni SIATP Member S$396 per participant Standard
      538 words
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      8 2 FRONT PAGE FRONT PAGE SINGAPORE NEWS, PAGE 10
      8 words
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  • Page 3 Advertisements
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      237 3 www.vw. com. sg Now you can drive an executive sedan for only $1,088 per month i; c ■> H m Si S=U*UIO MED A 0 ’HONE li w FONE SETUP mmm Reverse camera V x 12 1 J H W Sis nVff AUTO L H SYNC ’ASSENGER AIR BAG The
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  • Page 4 Advertisements
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      36 4 m Wishing you a :appy lunar NEW YEAR ti'h'J $5 MILLION Reunion Draw Fri, 8 Feb 2013, 9.30pm Visit www.singaporepools.com.sg for details. IpLAY® Always play with care. [responsibiyy Do not bet illegally. RGB Reg No: *****0202G
      36 words
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon Divestment gain boosts DBS Q4 net profit to $1.2b
      802 5  -  But Q4 core earnings at $760m disappoints expectations By SIOW LI SEN DBS Group Holdings yesterday posted disappointing fourth-quarter core net profit of $760 million, up just 4 per cent from $731 million a year earlier as margins fell faster than
      PHOTO: ARTHUR LEE  -  802 words
    • Article
      Lock icon Metro’s Q3 net up 43.4%
      425 5  -  By FELDA CHAY METRO Holdings Ltd saw a 43.4 per cent jump in third-quarter net profit to $15.3 million from $10.7 million last year a rise it attributed to a balloon payment of interest income from loan notes held by its property division. The balloon
      425 words
    • Article, Illustration
      Lock icon Analysts expect F&N to be delisted eventually
      811 7  -  Thais’ stake, swelled by Kirin’s holding to 75.7%, seen topping 90% threshold By KENNETH LIM THAI tycoon Charoen Sirivadhanabhakdi will probably own enough of Fraser and Neave (F&N) to delist the company now that he has secured Kirin Holdings’ stake, market observers said.
      PHOTO: REUTERS  -  811 words
    • Article
      Lock icon Eu Yan Sang back in the black in Q2
      458 7  -  By LEE MEIXIAN HAVING gone through a painful quarter a year earlier when it was hit by an investment impairment, Eu Yan Sang International has emerged from its second quarter ended Dec 31, 2012, with a net profit of $4.7 million.
      458 words
    • Article
      Lock icon Broker-imposed trading curbs – how to manage?
      638 7  - Broker-imposed trading curbs how to manage? HOCK LOCK SIEW By R SIVANITHY THE challenge that stock market regulators confront every day is how to maintain an orderly market while ensuring a level playing field for all investors, big and small. So it is that when companies make important announcements, all
      638 words
    • Article, Illustration
      Lock icon Fair-value gain boosts GLP Q3 profit
      498 8  -  Group revenue also up 20%, driven by China market By ANDREA SOH BOOSTED by fair value gains in investment properties and higher rents in China, Global Logistic Properties’ (GLP) net profit grew 31 per cent in the third quarter. Net profit attributable to shareholders
      498 words
    • Article, Illustration
      Lock icon Far East H-Trust posts 2.09¢ distribution
      504 8  -  Gross revenue comes in at $42.2m; NPI above forecast By MINDY TAN FAR East Hospitality Trust (Far East H-Trust) yesterday announced income available for distribution of $33.6 million and distribution per stapled security of 2.09 cents. For the period Aug 27 to Dec 31,
      504 words
    • Article, Illustration
      Lock icon Pacific Andes posts 42.5% rise in Q1 net profit
      524 8  -  Boost from forex hedge; China Fishery Q1 profit down 43% By NISHA RAMCHANDANI FROZEN fish supplier Pacific Andes Resources Development posted a 42.5 per cent increase in net profit to HK$198.97 million (S$31.75 million) for the first quarter ended Dec 28,
      524 words
    • COMPANY BRIEFS
      • Article
        Lock icon Midas JV clinches Nanjing Metro order
        84 8 MIDAS Holdings said that its joint venture company, Nanjing SR Puzhen Rail Transport Co Ltd, has won a 710 million yuan (S$140.8 million) metro contract. Awarded by Nanjing Metro Co Ltd for the supply of 26 train sets or 104 train cars for the
        84 words
      • Article
        Lock icon ST Engg unit gets M’sian MRT contract
        78 8 SINGAPORE Technologies Engineering announced that its electronics arm, Singapore Technologies Electronics (ST Electronics), has won a contract worth RM78 million (S$31 million) from the MRT Corporation for a mass rapid transit (MRT) project in Kuala Lumpur. ST Electronics will provide Platform Screen Doors
        78 words
      • Article
        Lock icon Challenger to shut down three outlets
        62 8 CHALLENGER Technologies said three of the company’s retail outlets, Challenger Mini IMM and retail outlets located at Eastpoint Mall and United Square will be closed by the end of April this year. The company will continue to rationalise its outlets’ locations, including both opening
        62 words
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      Lock icon Page 5 Advertisements Column 1
      169 5 www.juliusbaer.asia Combining 212 years of experience, 50 locations worldwide and 2 leading teams with 1 single goal to offer you: the new reference in private banking. Julius Baer welcomes Merrill Lynch’s International Wealth Management clients*. Through the perfect combination of private client heritage and investment expertise the new reference in
      169 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon ST Index enjoys mild recovery
      633 6  -  Penny stocks remain the focus as market turnover averages a mere 34 cents per unit STOCKS R SIVANITHY Senior Correspondent WALL Street and Europe’s rebound on Tuesday from their Monday hammering helped the Straits Times Index inch up 3.87 points yesterday to 3,276.53, a modest
      Source: Bloomberg  -  633 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      73 6 Feb 6 VALUE CLOSE BT OB/OS 441.00 +53.00 BT CADI -*****.00 +142.00 BT 10-day MA -*****.00 +44.00 FTSE ST Mid Cap 813.05 +4.24 FTSE ST Small Cap 571.36 +4.27 FTSE ST All Share 807.68 +1.79 FTSE ST China Top 231.18 -0.41 FTSE ST China 263.90 -1.88 FTSE
      73 words
    • Article
      Lock icon MOST ACTIVE STOCKS
      54 6 VOLUME WE Hldgs 507,368,000 CCFH 257,207,000 Annica 230,327,000 Ntegrator 228,013,000 ChinaACorp 218,804,000 IPCO Intl 188,182,000 YHM 157,266,000 Jasper 128,622,000 Magnus 97,093,000 MDR 90,277,000 VALUE($) DBS Grp 95,657,580 Wilmar 80,570,700 SingTel 56,316,676 JMH 44,297,112 UOB 39,308,330 WE Hldgs 38,132,474 HPH Trust US$ 33,485,933 Thai Beverage 33,080,275 Keppel Corp
      54 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 8 2 0 0 0 6 8 2 Manufacturing 87 44 35 11 5 12 98 49 47 Commerce 28 18 15 7 2 3 35 20 18 Tpt/Stor/Comms 22 5 14
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 236,597 236,597 67,799 67,799 Manufacturing 902,862 548,522 1,451,384 312,499 24,423 336,922 Commerce 217,467 656,943 874,410 128,638 46,829 175,467 Tpt/Stor/Comms 121,462 16,699 138,161 174,236 5,783 180,018 Finance 118,669 36 118,705 208,293 12 208,305 Construction 312,009 160,418
      123 words
    • Article, Illustration
      Lock icon BROKERS’ TAKE
      921 6  -  Compiled by JOYCE HOOI SIA Engineering Feb 6 close: $4.79 DBS Group Research, Feb 6 SIA Engineering’s (SIE) results fail to excite. Q3 FY March 2013 net profit of $67 million (up 6 per cent y-o-y) was slightly lower than our projections, as revenue of $278 million (8
      Source: Bloomberg  -  921 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      115 6 Stock name Close Change CapMallsAsia 2.170 -0.030 CapitaLand 3.900 +0.010 CapitaMall 2.140 +0.030 CityDev 11.50 +0.100 ComfortDelGro 1.910 +0.025 DBS Grp 14.96 -0.240 F&N 9.440 +0.010 GLP 2.760 +0.020 Genting SP 1.540 +0.005 Golden Agri 0.640 +0.005 HK Land 7.920 -0.070 IHH Healthcare 1.315 -0.015 JMH
      115 words
    • Article, Illustration
      Lock icon Euro slips against $ before ECB meeting
      473 6 Euro slips against before ECB meeting CURRENCIES Bloomberg [LONDON] The euro yesterday fell towards a one-week low against the US dollar as European Central Bank policymakers prepare to meet today amid political and banking turmoil that threatens to renew the region’s sover-eign-debt crisis. The 17-nation currency slid against most of
      Bloomberg; PHOTO: REUTERS  -  473 words
    • Article
      Lock icon RISES
      104 6 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 153.5 1.1 DBXT FTVietnam 10US$ 2736 141.1 4.3 JSH 3868 113.9 2.4 DBXT S&P500 10US$ 2471 92.8 3.1 IS S&P500 ***** 63.1 0.3 DBXT MSEurope 10US$ 5036 54.5 0.9 JMH 6193 44.6 0.6 DairyFarm 1317 33.4 2.1 Jardine C&C 5162 22.0
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    • Article
      Lock icon FALLS
      128 6 BY CENTS CLOSE DOWN DBS Bk 4.7% NCPS 100 ***** -90.0 -0.8 DBXT iBoxxSing 5SG$ ***** -82.0 -0.6 GLD 10US$ ***** -65.6 -0.3 DBXT S&P Short 10US$ 3293 -33.4 -0.8 STXPO 100 542 -33.0 -5.7 DBS Grp 1496 -24.0 -1.6 SIA Engg 479 -19.0 -3.8 DBS.ES.1302 1493 -12.0 -0.8
      128 words
    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 6 DAILY
      5 words
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
      174 7 LAUNCHING FOR SALE SOON! Medipl SBF CENTER New premier medical center at Robinson Road First dedicated medical hub in the financial district Ready catchment of working professionals and city residents Limited supply of medical spaces for sale Unit sizes from 667 sq ft High floor-to-floor height of 4.5m Sheltered access
      174 words
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      Lock icon Page 7 Advertisements Column 2
      100 7 Work flat out, seven days a week. From 2 February, fly to Brisbane and Abu Dhabi daily, with Etihad. Enjoy a guaranteed fully-flat bed as well as your own dedicated Food and Beverage Manager in Pearl Business Class, And on the ground, our hospitality extends to the complimentary Etihad Chauffeur
      100 words
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  • Page 8 Advertisements
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      95 8 STYLISH LIVING MADE EASY JUST A CLICK AWAY homeanddecor.com.sg An interactive, style-driven interior design website for homeowners and decor enthusiasts. homes Draw inspiration from over 2,400 pictures of real homes. “A mood board Store your renovation ideas online, and share them via social networks. 'll: i/waftt («,'a. BB—«jp i it
      95 words
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  • SINGAPORE NEWS
    • Article
      Lock icon Bill gives more teeth to Controller of Housing
      775 9 Developers will have to disclose benefits and discounts given to home buyers YESTERDAY IN PARLIAMENT THE Controller of Housing will be empowered to require developers to disclose any benefits they provide to home buyers including reimbursements of stamp duty, discounts and vouchers
      775 words
    • Article, Illustration
      Lock icon Consumers likely to cut back on spending this year
      387 9  -  Sentiment takes a pessimistic turn, Nielsen poll shows By LEE MEIXIAN SINGAPORE could see a potential slowdown in consumer spending in 2013, following a decline in consumer confidence in the fourth quarter of last year. Nielsen’s latest survey shows a 3-percent-age-point
      Source: Nielsen  -  387 words
    • Article
      Lock icon Singaporeans’ CNY splurge: $1,500
      275 9  -  UOB poll finds that 43% of that amount goes to hongbaos By MARIA YOGALINGAM CHINESE Singaporeans are set to spend an average of 1,500 each to usher in Chinese New Year this year, according to a survey conducted by United Overseas Bank (UOB). The survey, which
      275 words
    • Article
      Lock icon Finance sector leads in CEO salaries, study shows
      615 10  -  It has remuneration packages of $2.88m compared to $2.3m of property sector By AMANDA TAN ALTHOUGH companies continue to be tight-lipped about key executives’ remuneration packages, a study by global management consultancy Hay Group has revealed that, in terms of median total
      615 words
    • Article, Illustration
      Lock icon New RFID tag created to prevent baby swop at hospitals
      369 10  -  By LIM JIA YING MOTHERS delivering at Thomson Medical Centre (TMC) need no longer fret about taking home the wrong child. Cadi Scientific has developed a new tagging method: the Cadi SmartSense Infant Safety Solution (Gen II). It utilises radio
      369 words
    • SINGAPORE ROUNDUP
      • Article
        Lock icon CAAS, NTU to start air traffic institute
        90 10 THE Civil Aviation Authority of Singapore (CAAS) and the Nanyang Technological University (NTU) have signed a memorandum of agreement to establish the Air Traffic Management Research Institute (ATMRI). The outfit will be Singapore’s first institute dedicated to research and development in air traffic
        90 words
      • Article
        Lock icon SPH, Central CDC join hands for jobs app
        67 10 SINGAPORE Press Holdings' (SPH) online job portal STJobs has partnered Central Singapore Community Development Council (Central Singapore CDC) for its Jobs Kiosk@SG initiative. An application containing over 30,000 jobs from 27 industries, Jobs Kiosk@SG is accessible via iPad. Jobs Kiosk@SG is currently
        67 words
    • Article
      Lock icon Labour crunch harsher here than in region: poll
      367 10  -  56% of firms in S’pore find it tough to hire skilled staff By KENNETH LIM SINGAPORE businesses are finding it harder than regional peers to find skilled labour amid a global shortage, according to a survey in the Grant Thornton International Business
      367 words
    • Article
      Lock icon New LNG supply will cover 20% of Senoko needs
      616 10  -  Gas-fired generation hits 90% of total output here now By RONNIE LIM SENOKO Energy expects regasified LNG (liquefied natural gas) coming from the Singapore LNG terminal in the second quarter to initially account for about onefifth of the genco’s total gas
      616 words
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      833 9 DWG REAL ESTATE QUARTER TOP PRODUCERS AWARDS 2012 CONGRATULATIONS TO ALL OUR AWARD WINNERS I TOP ASSOC. jnp I iCTrn GROUP DIRECTOR TOP LISTER u 4^* LIONEL NG RAYMOND QUAH GILBERT LEONG BEN LOW R*****4D R*****7H R*****1A R*****8E *****797 *****437 *****947 *****655 C- I A a a COLIN NG REX
      833 words
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      665 10 JURONG TOWN CORPORATION (“JTC”) The JTC Summit, 8 Jurong Town Hall Road, Singapore *****4 NOTICE is hereby given that the below mentioned JTC unsecured note certificate (“Note Certificate”) issued pursuant to the JTC Act (Chapter 150) of Singapore has been reported as lost/misplaced and the registered noteholder has applied to
      665 words
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      30 10 r~> c 1 U FIND THE ONES THAT FIT! Recruit the right people through CATS Recruit. Call 1800 289 8822 or email ,''xrecruit@sph.com.sg j to advertise. J T L ■n
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  • MALAYSIA/INDONESIA
    • Article, Illustration
      Lock icon MISC hires adviser to placate minorities on Petronas offer
      658 11  -  Shareholder says RM5.30 per share bid undervalues MISC By S JAYASANKARAN in Kuala Lumpur IN a move to placate minority shareholders, listed shipping company MISC the former Malaysian International Shipping Corp has appointed an independent adviser, AmInvestment Bank, to assess the
      PHOTO: REUTERS  -  658 words
    • Article
      Lock icon Indonesia reiterates ban on NDF
      298 11 Reuters [JAKARTA] Indonesia’s central bank urged local commercial banks yesterday to use the onshore market as their benchmark for forward rupiah, reminding them that they were banned from trading in offshore rupiah non-delivera-ble forwards (NDF). Bank Indonesia said that it was coordinating with peers in
      Reuters  -  298 words
    • Article
      Lock icon Public Bank posts record RM992.5m profit for Q4
      392 11 Bloomb erg [KUALA LUMPUR] Public Bank Bhd reported record quarterly earnings with Malaysia’s expanding economy after overtaking CIMB Group Holdings Bhd to become the country’s sec-ond-largest lender by market value. Net income climbed 8.7 per cent to RM992.5 million ($397 million), or
      Bloomberg  -  392 words
  • Page 11 Advertisements
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      589 11 Moving Your Business Communication One Step Closer to Success Who should attend: Marketing PR Consultants, Senior and Middle Management, General Management, Sales Business Development Managers and Customer Service Personnel Supervisors. 2013 FEBRUARY SERIES t!/j\ axex STJOBS No Awarded Best in Cross Media Advertising (Silver) for Asian Digital Media Awards (2012)
      589 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon Beijing puts out plan to cut wage gap
      603 12 State vows to lift earnings of workers and farmers and battle corruption NYT [HONG KONG] The Chinese government has issued a long-awaited plan to narrow the gulf between rich and poor, offering broad vows to lift the incomes of workers and farmers
      NYT; PHOTO: REUTERS  -  603 words
    • Article
      Lock icon Prolonged delay in China economic data for January irks economists
      738 12 Bloomberg [BEIJING] China’s campaign to upgrade its economic data, from plugging leaks to expanding sample sizes, is yet to tackle one gap: the month-long delay each year in releasing some key January numbers. Government agencies tomorrow will report slower inflation
      Bloomberg  -  738 words
    • Article
      Lock icon China acts to counter Asian FX depreciation
      493 12 The PBOC has guided the yuan slightly weaker over the last two weeks Reuters [SHANGHAI] Chinese authorities have responded to the dramatic fall in the Japanese yen and other Asian currencies in recent weeks by tightening their grip on the yuan and beating
      Reuters  -  493 words
    • Article, Illustration
      Lock icon Tata Power seeks investors to help expansion of its renewables unit
      676 12 WP [NEW DELHI] Tata Power, India’s second-largest generator, is seeking investors to help its renewables unit more than double capacity in five years and acquire projects at home and overseas. The unit of India’s largest business group, which plans
      WP; PHOTO: AFP  -  676 words
    • Article
      Lock icon Goldman bullish on China even after ICBC stake sale
      377 12 Bloomb erg [SHANGHAI] Goldman Sachs Group president Gary Cohn said he’s “bullish” on China even after his firm last week sold a US$1 billion stake in Industrial Commercial Bank of China, the nation’s largest bank. “You can absolutely still make money
      Bloomberg  -  377 words
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon US deficit to shrink but debt will pile up
      1043 13 Budget office sees deficit going below US$1t, dropping further up to 2015 Reuters [WASHINGTON] The US budget deficit will drop below US$1 trillion this year for the first time during Barack Obama’s presidency, the Congressional Budget Office (CBO) said on Tuesday,
      Reuters; PHOTO: AFP  -  1,043 words
    • Article, Illustration
      Lock icon Eurozone economy on road to recovery
      489 13 But chasm between Germany and France is widening: survey Reuters [LONDON] The eurozone’s embattled economy has turned a corner, according to a business survey that showed businesses are more optimistic about the future but highlighted a growing chasm between the region’s economies. Markit’s Eurozone
      Reuters; PHOTO: REUTERS  -  489 words
    • Article
      Lock icon Australia retail sales suffer third month of falls
      543 13 Reuters [SYDNEY] Australian retail sales fell for a third straight month in December, an extremely rare run of weakness that strengthened the case for a further cut in interest rates and knocked the local dollar lower. Yesterday’s data from the Australian Bureau
      Reuters  -  543 words
    • Article
      Lock icon UK triple-dip fears recede after services rebound
      479 13 Bloomberg [LONDON] British services unexpectedly grew at the fastest pace in four months in January, indicating the economy may avoid an unprecedented triple-dip recession. A gauge of activity surged to 51.5, the highest since September, from 48.9 in December, Markit Economics and the
      Bloomberg  -  479 words
    • Article
      Lock icon Netherlands’ rating outlook cut by Fitch
      286 13 Bloomberg [AMSTERDAM] The Netherlands had the outlook on its top credit rating cut to negative by Fitch Ratings as the Dutch economy suffers from a deepening housing slump and persistent bank system woes. Fitch maintained the country’s grade at AAA while removing its designation
      Bloomberg  -  286 words
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  • WORLD
    • Article, Illustration
      Lock icon RBS slapped with US$612m fine for manipulating Libor
      739 14 Bank’s Japanese unit to plead guilty to wire fraud, as part of the settlement Bloomberg [LONDON] Royal Bank of Scotland Group plc, Britain’s biggest publicly owned lender, will pay about US$612 million in fines for manipulating interest rates, the second- largest penalty
      Bloomberg; PHOTO: AFP  -  739 words
    • Article
      Lock icon German law stops short of breaking up banks
      458 14 Reu ters [BERLIN] Germany’s cabinet yesterday agreed on a draft banking law that stops short of forcing most banks to separate the riskier side of their business, two government sources said. Under the draft law, Germany would compel lenders to separate risky
      Reuters  -  458 words
    • Article
      Lock icon Leaky US water system threatens livelihoods and commerce
      545 14 Bloomberg [LONDON] Leaks and delayed infrastructure investments threaten the US’ strained water system, exposing the value of a commodity that in short supply hurts business and can disrupt production, according to a Web campaign. The “Water is Your Business” site began yesterday,
      Bloomberg  -  545 words
    • Article
      Lock icon 1b euro loss seen at Monte dei Paschi
      553 14 Reuters [SIENA, Italy] Board members at Monte dei Paschi were expected to say yesterday that Italy’s third largest bank may have lost up to 1 billion euros (S$1.67 billion) on opaque derivatives trades, far higher than the initial estimate. The trades are
      Reuters  -  553 words
    • Article, Illustration
      Lock icon BoE may hold rates as incoming chief speaks
      523 14 It is also unlikely to make changes to quantitative easing AFP [LONDON] The Bank of England is set to freeze its key interest rate at a record-low 0.50 per cent at a meeting today, when its incoming governor appears before parliament for
      AFP; PHOTO: REUTERS  -  523 words
    • Article
      Lock icon Plastic: easily recycled but still environmentally unfriendly
      388 15 Most of it ends up in landfills in America despite all those recycling bins WP [WASHINGTON] From an environmental perspective, the only thing that feels good about plastic is the recycling icon found on so many items. Those three arrows, feeding each other
      WP  -  388 words
    • Article
      Lock icon Competition in ratings industry hindered by SEC rules
      983 16 S&P lawsuit throws spotlight on Big Three’s dominance of the market Bloomberg [NEW YORK] The US lawsuit against Standard Poor’s raises pressure to accelerate competition in the ratings industry while the government itself has adopted rules that left the business dominated by
      Bloomberg  -  983 words
    • Article, Illustration
      Lock icon Disney Q1 earnings dip 6% on ESPN costs, low DVD sales
      605 16 NYT [LOS ANGELES] Higher costs at ESPN and lower DVD sales resulted in a 6 per cent decline in quarterly profit at Disney, the company said. But Disney’s video game and Web unit finally swung to a profit and
      NYT; PHOTO: AP  -  605 words
    • Article
      Lock icon Myanmar to allow ventures for foreign banks
      437 16 Regulators considering mandating at least 20% stake for local partners Bloomberg [BANGKOK] Myanmar’s central bank may allow foreign lenders to form joint ventures with local banks as early as April in a further step to overhaul the financial system, according to an official
      Bloomberg  -  437 words
    • Article
      Lock icon US urged to fight efforts to control Internet
      616 16 Lawmakers favour decentralised model of Web governance Bloomberg [WASHINGTON] International proposals to control the Internet will continue after a United Nations conference in Dubai and the US should be ready to fight such efforts, lawmakers and a regulator said. “The Internet is
      Bloomberg  -  616 words
    • Article, Illustration
      Lock icon ArcelorMittal Q4 loss widens to US$4b as sales fall 14%
      462 16 AP [AMSTERDAM] Charges related to its ailing European business and a drop in the value of its assets saw ArcelorMittal, the world’s largest steel maker, post a near US$4 billion loss for the fourth quarter. The company, based in Luxembourg,
      AP  -  462 words
    • Article, Illustration
      Lock icon Britain’s RBS in limbo: minister
      496 17 It is semi-detached from govt although bailed out with state money Reuters [LONDON] Britain’s Royal Bank of Scotland is “in limbo” and should have been fully nationalised when it was rescued in the financial crisis, Business Secretary Vince Cable said yesterday. Instead, the present government
      Reuters  -  496 words
    • Article, Illustration
      Lock icon BlackBerry Z10 rings in record orders, strong sales
      1098 17 Bloomberg [TORONTO] BlackBerry’s Z10 smartphone has attracted record orders at Canadian wireless carrier BCE Inc, and analysts say sales are off to a strong start in the UK, sparking a 23 per cent stock rally over the past two days. BCE, Canada’s
      Bloomberg; PHOTO: REUTERS  -  1,098 words
    • Article, Illustration
      Lock icon Cameron wins gay marriage vote but splits Tory party
      775 17 Bloomberg [LONDON] Prime Minister David Cameron won a vote to legalise gay marriage in England and Wales, aiming to fall into line with countries such as Spain and South Africa yet splitting his Tory party in the process. Mr Cameron only
      Bloomberg  -  775 words
    • Article, Illustration
      Lock icon Rebuilding Dell’s lost legacy
      1140 18 While going private gives Michael Dell more freedom, questions remain over whether he can turn it around. By BEN BERKOWITZ Reu ters [NEW YORK] MICHAEL Dell once gave up day-to-day control of the computer company that bears his name an d everything began to go south.
      Reuters; PHOTO: AP  -  1,140 words
    • Article, Illustration
      Lock icon Concern over nanoparticles in food
      464 18 Most firms do not label presence of the particles: report NYT [NEW YORK] Nanomaterials, substances broken down by technology into molecule-size particles, are starting to enter the food chain through well-known food products and their packaging, but there is little acknowledgment by the companies using
      NYT; PHOTO: BLOOMBERG  -  464 words
    • Article
      Lock icon Two senior Aussie ministers dragged into corruption scandal
      399 18 AFP [SYDNEY] Two senior Australian ministers have been dragged into a snowballing ruling party corruption scandal, admitting to accepting hospitality from a former powerbroker at the centre of an explosive inquiry. Environment Minister Tony Burke and Senate leader Stephen Conroy both stayed
      AFP  -  399 words
    • Article
      Lock icon Google wins landmark case in Australia
      249 18 Reuters [CANBERRA] Google won a landmark court case yesterday when Australia’s High Court ruled that it had not engaged in misleading behaviour with its sponsored links and that it was not responsible for messages conveyed by paid advertisers. The ruling helps Internet providers and
      Reuters  -  249 words
    • Article, Illustration
      Lock icon Volvo expects rough start to 2013
      525 18 Reuters [STOCKHOLM] Swedish truck maker Volvo warned of a rough start to 2013 after weak demand in its main markets left factories running at half speed and pushed it into a heavier than expected quarterly earnings fall. Volvo, which only weeks ago laid claim
      Reuters; PHOTO: AFP  -  525 words
    • Article, Illustration
      Lock icon Cable group Liberty Global to buy Virgin Media for US$16b
      798 19 Deal highlights US billionaire Malone’s long-time rivalry with Murdoch NYT [LONDON] Liberty Global, the international cable company owned by US billionaire John Malone, has agreed to buy British cable company Virgin Media for about US$16 billion. The deal on Tuesday
      NYT; PHOTO: BLOOMBERG  -  798 words
    • Article, Illustration
      Lock icon America’s cable king annexing western Europe too
      1129 19 Reu ters [LONDON] For more than three decades, John Malone has been known as America’s King of Cable. Now, he is gaining that title in Europe as well. Mr Malone, through his Liberty Global unit, has made his most audacious bet yet on
      Reuters; PHOTO: REUTERS  -  1,129 words
    • Article
      Lock icon Bad debts hurdle for Vietnam stocks
      514 19 Biggest challenge is banking sector: Dragon Capital CEO Bloomberg [HANOI] Non-performing loans are the biggest hurdle to sustaining a rally that’s made Vietnamese stocks Asia’s best performers this year, according to Dragon Capital Group Ltd. “There’s tough work ahead,” Dominic Scriven, chief executive of
      Bloomberg  -  514 words
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  • Page 15 Advertisements
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      Lock icon Page 15 Advertisements Column 1
      5632 15 VOLUNTARY CONDITIONAL CASH OFFER by UNITED OVERSEAS BANK LIMITED (Company Registration No.: *****0026Z) (Incorporated in the Republic of Singapore) for and on behalf of MSKK INVESTMENTS PTE. LTD. (Company Registration No.: *****3035R) (Incorporated in the Republic of Singapore) to acquire all the issued and paid-up ordinary shares in the capital
      5,632 words
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  • Page 17 Advertisements
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      Lock icon Page 17 Advertisements Column 1
      11 17 CATS Recruit The first door to your world of opportunities CLA/AUG06/g
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      Lock icon Page 17 Advertisements Column 2
      38 17 tabla! THE HEARTBEAT OF THE INDIAN COMMUNITY Kumbh Mela in Allahabad draws millions for the ritual holy bath an Indians in Singapore give Vishwaroopam the thumbs up GET YOUR CORY TOMORROW FROM ALL 7-ELEVEN OUTLETS WHILE STOCKS LAST
      38 words
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      Lock icon Page 17 Advertisements Column 3
      55 17 w N UT 59 PGAOO nm M13? BMW FUN CtlCAL FAST pRA *4 l-YEAR DIGITAL jr r SUBSCRIPTION TORQUE DIGITAL EDITION IS AVAILABLE ON IPAD ANDROID! VISIT WWW.TORQUE.COM.SG FOR MORE INFO Join us at the MINI John Cooper Works track day, March 16 on the house! Apply at www.torque.com.sq/promotions LIKE"
      55 words
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  • EDITORIAL & OPINION
    • Article
      Lock icon ‘Us vs them’ view of immigrants misguided
      475 20 EDITORIAL GIVEN the host of everyday living concerns that it covers, it is probably no surprise that Singapore’s population White Paper has, since its release one week ago, drawn a range of strong, even diametrically opposed, views from various quarters. For most Singaporeans,
      475 words
    • Article, Illustration
      Lock icon Is Abenomics a cover for Tokyo’s real agenda?
      823 20  -  THE BOTTOM LINE ANTHONY ROWLEY Tokyo Correspondent THE yen is falling, faster every day it seems, against other leading currencies while the Tokyo stock market is rising along for the moment at least with the popularity of Japan’s Prime Minister Shinzo Abe,
      823 words
    • Article, Illustration
      Lock icon Is 6.9 million really too much for Singapore?
      995 20  -  Some common fallacies about immigration and population By NG YEW-KWANG The author is Winsemius Professor in Economics at the Nanyang Technological University SINGAPORE is debating whether the estimated 6.5-6.9 million population projection for 2030 is too high. While not discussing all important
      PHOTO: REUTERS  -  995 words
    • Article, Illustration
      Lock icon Iskandar a nearshore advantage?
      1207 21  -  S’pore investors should first validate their cost structure and evaluate issues such as security, staff availability and wages By ABHIJIT GHOSH CELESTINE THONG The writers are partner and senior manager respectively at PwC Services LLP THE Iskandar Development Region (IDR) in Johor, Malaysia is three times
      FILE PHOTO  -  1,207 words
    • Article, Illustration
      Lock icon A passport for growth
      731 21  -  The future lies in the emerging markets, where almost five billion people are more than ready to buy into the consumer experience By KELVIN TAN The writer is head of commercial banking, HSBC Singapore Entrepreneurs face what initially appears to be a dilemma. They can maintain
      PHOTO: BLOOMBERG  -  731 words
    • Article
      Lock icon Time for TCC to show appreciation to minority owners
      204 21 LETTER TO THE EDITOR NOW that TCC Assets Ltd has got over 75 per cent control of Fraser Neave Ltd, it is time the new controlling shareholder shows appreciation to the remaining 25 per cent minority shareholders who have held on,
      204 words
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  • Page 21 Advertisements
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      103 21 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletter@sph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel
      103 words
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  • AVIATION/SHIPPING
    • Article, Illustration
      Lock icon India going all out to woo buyers with aviation trade show
      490 22 Western nations are eyeing deals to tap the world’s biggest arms import market AFP [BANGALORE] India, the world’s leading importer of weaponry, opened one of Asia’s biggest aviation trade shows yesterday with Western suppliers eyeing lucrative deals and a
      AFP; PHOTO: AFP  -  490 words
    • Article
      Lock icon Cruise lines offer wider range of amenities and routes
      909 22 Move is a bid to get travellers of all stripes on board NYT [NEW YORK] Cruise lines keep adding to their itineraries in an industry push to get travellers of all stripes on board. While many voyages still accommodate the middle-aged
      NYT  -  909 words
    • Article
      Lock icon Boeing 787 battery maker to maintain output amid probes
      423 22 Bloomberg [TOKYO] GS Yuasa Corp, the battery maker at the centre of the probe on fires that grounded Boeing Co 787s, will maintain its production plan for car and aircraft lithium-ion cells even as the planemaker seeks approval for test flights.
      Bloomberg  -  423 words
    • Article
      Lock icon TRANSPORT STOCKS
      248 22 sex •ooo Feb 6 s* Vol CM Offshore Chuan Hup Hldg 0 50 0.20 J8 2503 548 3349 CWT Lid Etta Hlclqs 1-41 1.18 001 •0.01 First Ship Lea Freight Links 0,13 o.os unch unch 796 5201 0 laya Hold Lid 0.7? 0.16 unch 2287 KeppolCoip Mercator Lines
      248 words
    • Article, Illustration
      Lock icon ‘Greater use’ raised US tanker operating costs
      341 22 Reuters [WASHINGTON] The lifetime projected operating cost of Boeing Co’s new KC-46 refuelling tankers rose 11.2 per cent last year, but the Air Force says the increase stems from plans to use the new planes more than expected, not any performance problems. Major-General
      Reuters; PHOTO: AFP  -  341 words
  • Page 22 Advertisements
  • Page 22 Miscellaneous
    • Miscellaneous
      Lock icon Page 22 Miscellaneous Column 1
      309 22 CRYPTIC CROSSWORD Across 1 Do be safe, better to be thrown out after this (4-6,4) 9 Pirate of rough appearance picked up (7) 10 Strings that may be pulled by number of professors (7) 11 Reinforce military position (4) 12 Pamper common people about to live after great achievement (10)
      309 words
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  • Article
    Lock icon SHIPPING TIMES
    1617 23 BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE n GLOBAL SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE CONVENTIONAL, BREAKBULK PROJECT Destination STXPO TBN Camden/New
    1,617 words
  • Page 23 Advertisements
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      Lock icon Page 23 Advertisements Column 1
      46 23 PLACE YOUR AD HERE The Business Times Shippii g times CALL JOE WOT JG AT 9620 1327 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES Shipping times
      46 words
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      3244 24 Transaction date: Feb 6 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company 6 3 A-Sonic Sale Vol Day Last Quote (’000) High Low Buyer Seller Div Gr Yld C'vr Net 159.5
      3,244 words
    • Article
      Lock icon SGX CATALIST
      274 25 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol 4.6 1.3 t Advanced System 1.7 unch 1040 1.7 1.7 1.7 1.8 25.3 Last Quote Div Gr Yld Net M Cap High
      274 words
    • Article
      Lock icon UNIT TRUST & FUNDS
      10607 25 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** APS Alpha Fund Cl A!** 1.4/ Aberdeen Asset Mgt Asia Limited Aberdeen Asset Mgt Asia Limited Asian Local Ccy SD Bond EM Local Ccy Bond Asian Smaller Cos! 1.9431/ Global Emerging Markets!** FM local Ccy
      10,607 words
    • Article
      Lock icon GLOBALQUOTE
      249 25 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Company 45 30 Genting HK US$ US43 unch 7116 43 42.5 42.5 43 2831.3 Sale 250 181 TanChongInt HK247 +2 72 247 244 243 247 4.3 2.8
      249 words
    • Article
      Lock icon SGX ETF
      964 25 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 126 107.1 ABF SG Bond ETF 117.7 -0.3 73 118.2 117.7 117.5 117.8 537.3 135.9 120.4 CIMB APAC Div 100S$D 135.8 134.3 135.3 111.7 95.8 CIMB
      964 words
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      638 26 Feb 6 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.70 *****.42 *****.05 Mar13 *****.00 *****.00 *****.00 *****.00 *****6 *****2 Jun13 *****.00 *****.00 *****.00 *****.00 104 3974 MSCI TAIWAN INDEX FUTURES SPOT 283.30 285.82 283.30 Feb13 283.20 285.50 282.20 283.70 ***** *****4 Mar13 282.90
      638 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 26 In local curr In S$ In US$ dy yr dy yr dy yr Feb 5 Index Change Change Change Change Change Change World Preliminary 990.1 0.4 5.5 0.2 6.4 0.3 4.9 EAFE Preliminary 816.7 0.0 5.4 -0.5 5.4 -0.4 4.0 Europe Preliminary 1199.2 0.7 4.5
      373 words
    • Article
      Lock icon INTERBANK CROSS RATES
      470 26 Feb 6 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.029 6.434 0.763 8.003 54.789 100.180 0.967 11.239 3.199 1.226 100.970 41.966 1.278 9.144 0.943 30.483 30.746 0.660 1.032 Canada 0.971 6.250
      470 words
    • Article
      Lock icon SIBOR
      69 26 Feb 6 (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$) 3 mths 0.***** 3 mths 6 mths 6 mths 0.***** 9 mths 0.***** 12 mths 0.***** SWAP
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    • Article
      Lock icon PRECIOUS METALS
      134 26 Feb 6 GOLD(US$/oz) Feb 05 Feb 06 Hong Kong 1683.20 1680.30 Feb 04 Feb 05 London 1670.71 1667.50 1671.48 1668.50 Source: Thomson Reuters CAST BAR Feb 06 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 149 66 5gm 424 332 10gm 757 664
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    • Article
      Lock icon GOVERNMENT SECURITIES
      92 26 Feb 6 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****E 09-May-13 0.26 6-Month BS*****Z 12-Aug-13 0.27 1-Year BY*****X 01-Nov-13 0.27 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-13 99.93 99.99 99.99 5-Year N*****0Z 2.375
      92 words
    • Article
      Lock icon PALM OIL
      57 26 Feb 6 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Feb 13 2475.0 2481.0 2475.0 2465.0 422 2912 Mar 13 2525.0 2528.0 2531.0 2508.0 2102 ***** Apr 13 2548.0 2548.0 2553.0 2529.0 ***** ***** May 13 2564.0 2564.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 26 Feb 6 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2773 1.2778 1.0322 1.0323 Canadian dollar 1.2409 1.2413 1.0028 1.0027 Euro 1.6730 1.6736 1.3519 1.3521 NZ dollar 1.0414 1.0421 0.8415 0.8419 Sterling pound 1.9361 1.9368 1.5645 1.5647
      154 words
    • Article
      Lock icon CHICAGO BOT
      107 26 Feb 5 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Mar 13 1495.50 1488.75 1496.50 1478.00 May 13 1485.75 1480.25 1486.75 1469.50 Jul 13 1476.50 1470.50 1477.50 1460.75 Aug 13 1448.75 1442.00 1450.00 1432.75 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Mar 13 52.98
      107 words
    • Article
      Lock icon LIFFE
      80 26 Feb 5 COCOA (£/tonne) Close Prev High/Low Mar 13 1464 1427 1465/1424 May 13 1468 1434 1470/1430 Jul 13 1476 1444 1479/1440 Sep 13 1485 1452 1486/1449 COFFEE(US$/tonne) Close Prev High/Low Mar 13 2066 2036 2085/2034 May 13 2071 2047 2088/2045 Jul 13 2080 2057 2098/2055 Sep 13 2089
      80 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      914 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 4 1 146 724 4.55 15 AlliedTech W*****2 Ratio Asiatravel.com HoldingsW*****7 5 -0.4 3 1 25 17 Asiatravel.com HoldingsW*****5 5 -0.5 3 1 27 41 BakerTech W*****5 12.3
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    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 26 CRUDE OIL PRODUCTS Feb 05 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 115.91 0.62 WTI (Near Mth) 96.56 -0.61 Dubai (1-Mth F) 111.22 -0.13 Tapis blend 121.83 -0.43 Minas 117.93 -0.43 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 109.56 -0.66 Jet Kerosene 132.9 -0.17 US$/barrel OpecOil Basket
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    • Article
      Lock icon US$/S$ FORWARD RATES
      24 26 Feb 6 S$ Bid Offer 1-month 1.2376 1.2379 2-months 1.2376 1.2379 3-months 1.2376 1.2379 6-months 1.2375 1.2378 Source: OCBC Source: OCBC
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    • Article
      Lock icon LONDON METALS
      65 26 Feb 5 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2073.00 2073.75 3 months 2112.50 2112.00 Copper, Grade A(US$/tonne) Cash 8232.25 8267.25 3 months 8270.00 8305.00 Lead(US$/tonne) Cash 2447.50 2438.50 3 months 2460.00 2451.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 26 As at 9am Feb 06 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.316 1.254 Can dollar 1.271 1.211 Euro 1.719 1.638 Sterling pound 1.974 1.899 NZ dollar 1.081 1.020 US dollar 1.262 1.202 Local dollars to 100 units of foreign
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    • Article
      Lock icon INTERBANK RATES
      161 26 Feb 6 $S Offer Bid 0vernight 0.01 par 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.02 US$ 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 12
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  • PROPERTY
    • Article, Illustration
      Lock icon A bonding development in Kent, Ohio
      1156 27 Downtown being redeveloped to draw the city and university closer NYT [KENT, Ohio] Though it is home to the second largest campus in Ohio’s state university system by enrolment, this small Cuyahoga River city has spent much of the last four decades neglecting, if
      NYT; PHOTO: DAVID MAXWELL/THE NEW YORK TIMES  -  1,156 words
    • Article
      Lock icon Soho China shares fall as it denies money laundering
      285 27 Bloomberg [SHANGHAI] Soho China Ltd, the biggest developer in Beijing’s central business district, dropped by the most in almost four years in Hong Kong stock trading after a Beijing Times report linked the company to money laundering. Soho denied the claim.
      Bloomberg  -  285 words
    • Article
      Lock icon Househunt
      788 27 PROPERTY TRANSACTIONS FOR DISTRICTS 1 TO 28 WITH CONTRACT DATES BETWEEN JAN 9 AND JAN 15, 2013 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED The Sail Marina Bay Apt 11/01/2013 99 1184 2700 2280 District 3
      788 words
    • Article, Illustration
      Lock icon UK retail adapts to ‘seismic shift’ in shopping habits
      1173 28 More shoppers using mobiles to visit websites and do ‘showrooming’ ANALYSIS Reu ters [LONDON] Tradition has counted for nothing as new trends put paid to some of Britain’s best-known retailers, while some of the oldest names, such as venerable department store
      Reuters; PHOTO: BLOOMBERG  -  1,173 words
    • Article, Illustration
      Lock icon Mexican pension funds moving out of bonds and into Reits
      1121 29 Money managers looking to diversify assets cut peso debt holdings to new low Bloomberg [MEXICO CITY] Diminishing returns in the Mexican government bond market are prompting the nation’s pension funds to shift some of the US$152 billion they manage into
      Bloomberg; PHOTO: BLOOMBERG  -  1,121 words
    • Article
      Lock icon Future Fund looks to US, Europe property
      545 29 Aussie pension fund is struggling to meet its mandated targets Reu ters [SYDNEY] Australia’s state pension fund is seeking to build up its Australian infrastructure and US and European property investments as it struggles to meet its mandated targets. The Future Fund said
      Reuters  -  545 words
    • Article, Illustration
      Lock icon Link buys Iskandar site for $1 b project
      507 30  -  5.9ha site to house mixed development to support film, TV studio facility By MINDY TAN BOUTIQUE developer Link (THM) Holdings has formalised an agreement to purchase 5.9 hectares of land from Global Capital Development (GCD), to develop mixed properties worth $1 billion
      507 words
    • Article
      Lock icon Outlook remains hazy as UK home prices fall in Jan
      331 30 Bloomberg [LONDON] UK house prices slipped in January, according to Halifax, which said the outlook for the property market remains unclear. Home values fell 0.2 per cent from the previous month to an average £162,932 (S$316,800), the mortgage unit of
      Bloomberg  -  331 words
    • Article, Illustration
      Lock icon London makes pitch for property sales taxes
      199 30 Bloomberg [LONDON] Sales taxes on houses and apartments in London should be retained by the UK capital’s local government to pay for the building of new homes, Mayor Boris Johnson says. Stamp-duty receipts amounting to £1.3 billion (S$2.5 billion) a year could be
      Bloomberg  -  199 words
    • Article, Illustration
      Lock icon US homes selling fast amid short supply ahead of spring
      727 30 Bloomberg [BOSTON] The US housing market, entering its busiest season, is tipped so far in favour of sellers that almost a third of listings in areas from Washington, DC to Denver and Seattle are under contract in two weeks or
      Bloomberg; PHOTO: AFP  -  727 words
    • Article
      Lock icon Demand for single-tenant retail properties in US soars
      616 30 Bloomberg [CHICAGO] Sales of singletenant retail properties b u i l d i n g s l e a s e d t o fast-food joints, pharmacies and other store operators have soared to a six-year high as investors seek real estate
      Bloomberg  -  616 words
    • Article
      Lock icon Aussie beach towns have highest mortgage defaults, says Fitch
      331 30 Bloomberg [SYDNEY] Australia’s tourist and coastal areas had some of the highest levels of mortgage delinquencies, while city centres had the lowest rates, Fitch Ratings said. The Sunshine Coast and Gold Coast in Queensland state were among regions with the highest
      Bloomberg  -  331 words
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