The Business Times, 27 February 2013
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2013-02-27
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The Business Times
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Title Section25 2013-02-27 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 Wednesday, February 27, 201325 words
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709 2013-02-27 1 CHUANG PECK MING - Construction sector sees hefty hikes in move towards productivity By CHUANG PECK MING [SINGAPORE] Foreign worker levies will rise by an average of $50 to $160 monthly per worker by 2015. The higher the number of foreign workers in an industry709 words
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Article765 2013-02-27 1 FELDA CHAY - Despite help on offer, life will get harder, they say By FELDA CHAY [SINGAPORE] It’s going to get tougher for small and medium enterprises (SMEs) in the near term, and many may be forced to shut down, relocate or consolidate their business, said leaders765 words
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MARKETS DIGEST
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Article65 2013-02-27 1 HST INDEX 3,254.26 (-34.50) HST INDEX FUTURES 3,254.00 (-35.00) HSIMSCI 367.17 (-3.94) HSIMSCI FUTURES 366.60 (-4.60) US$ S$ US$ (S$ per US$) 1.239 (US$/S$ per 1.518 1.880 EURO (US$/S$/€) 1.306 1.618 Foreign currency per US$ S$ YEN 91.80 74.10 RM 3.105 2.507 HK$ 7.758 6.264 BAHT 29.86 24.11 RUPIAH65 words
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Article48 2013-02-27 1 Tuesday Change KL COMP 1,624.18 -3.17 NIKKEI 225 11,398.81 -263.71 HANG SENG 22,519.69 -300.39 SET INDEX 1,530.32 -9.81 JAKARTA COMP 4,663.03 -33.08 MANILA COMP 6,630.67 -90.66 SEOUL COMP 2,000.01 -9.51 SHENZHEN B 809.22 -7.92 MUMBAI IND 19,015.14 -316.55 11am EST Change DOW 13,864.95 +80.78 NASDAQ 3,121.10 +4.8548 words
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Article21 2013-02-27 1 SINGAPORE MALAYSIA MALAYSIA 6.55 HONG KONG 5.00 INDONESIA KOREA TAIWAN 5.036 US 1.475 KOREA SWITZERLAND BRITAIN 0.50 Source: Bloomberg21 words
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Page 1 Advertisements
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Advertisement141 2013-02-27 1 STRAIT TALK Ex-mariners should widen scope for shoreside jobs PAGE 21 COMPANIES China Fishery goes after big catch Copeinca PAGE 6 COMMENTARY A new technology world order EXEC MONEY Emerging country funds prove best performers PAGE 32 PAGE 25 WHO'S WHO IN PRIVATE BANKING A 22-page special supplement on private141 words
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Advertisement201 2013-02-27 1 Come home to a botanical retreat in the city. h HILLTOPS 11 ii m i ilTm i 111 miiiiiiiilll i f'A PHI MillnmnomTni.inm.ni, 11. a I i. «jjJ I J— I SMS I 1 B a V. rL I, r rirW'!' n« mu j ■mini 111 ii r L a201 words
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TOP STORIES
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Article982 2013-02-27 2 MINDY TAN - Latest tax moves raise holding costs, make investments less attractive By MINDY TAN [SINGAPORE] The move to abolish the tax vacancy refund will put more pressure on individuals and companies, particularly those with high-end residential asset portfolios. This, combined with progressive tax rates which will982 words
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Article, Illustration891 2013-02-27 2 SIOW LI SEN - By SIOW LI SEN [SINGAPORE] Private banks here have had an outstanding 2012, including the international ones, as the rich once again entrusted their ever increasing mountains of cash to the industry. Last year some banks reported their fastest growth891 words
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Article504 2013-02-27 2 Monthly levies for foreign workers to top $1,000 mark FOREIGN worker levies will rise by an average of $50 to $160 monthly per worker by 2015. The higher the number of foreign workers in an industry and the lower the productivity the higher the levies, according to the504 words
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538 2013-02-27 4 TEH SHI NING - Analysts expecting 5.2% rise; 0.4% dip attributed to fall in pharmaceuticals By TEH SHI NING [SINGAPORE] Manufacturing got off to a disappointing start in 2013 as a fall in pharmaceuticals led to a surprise dip in industrial output for January. Economists had been expecting production538 words
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REACTIONS TO BUDGET
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Article, Illustration576 2013-02-27 4 ONG CHOR HAO - By ONG CHOR HAO [SINGAPORE] That the latest measures announced in Monday’s Budget would impact the construction industry is pretty clear, but the severity may be relatively muted, analysts and companies say. Maybank Kim Eng, for example, said that the hikes to foreign worker levies, imposedSource: Companies, DBS Vickers - 576 words
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695 2013-02-27 4 LYNN KAN - By LYNN KAN [SINGAPORE] The government has taken a cleaver to the marine sector’s foreign worker employment ratios, dramatically lowering the dependency ratio ceilings (DRC) by one-third by 2018. Marine companies will first have until January 2016 to lower their current one local to695 words
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644 2013-02-27 4 SAMUEL EE - Reports by SAMUEL EE [SINGAPORE] The vehicle loan curbs and progressive registration taxes have left distributors and buyers of premium cars reeling. “We are still in shock and trying to digest all this,” said the head of a luxury dealership yesterday, one day644 words
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Article270 2013-02-27 4 [SINGAPORE] Open category COEs are now trading at a $20,000 premium, thanks to demand from buyers of high-end cars eyeing immediate registration to avoid the new ARF hikes. A Category E certificate of entitlement, which was secured in previous bids for over $90,000, is said270 words
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Article, Illustration763 2013-02-27 4 MALMINDERJIT SINGH - By MALMINDERJIT SINGH [SINGAPORE] Moves to further curb the inflow of foreign manpower in Monday’s Budget aren’t sitting well with some retailers and food beverage (F&B) operators who believe they will be hit hard. With a dearth of Singaporeans willing to take763 words
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Page 2 Advertisements
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Advertisement558 2013-02-27 2 Singapore Budget 2013 Date DeputyPrime Minister and Minister for Finance, Mr Tharman Tuesday, 5 March 2013 Time 8.30am to 5.00pm Venue Marina Mandarin Singapore 6 Raffles Boulevard Marina Square Singapore *****4 Shanmugaratnam, delivered his Budget Statement in Parliament on Monday, 25 February 2013. Join us at our Budget 2013 Seminar558 words
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Advertisement18 2013-02-27 2 The best pure-play private bank in Asia EFG Bank Asiamoney Private Banking Poll 2012 30 global locations www.efginternational.com18 words
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Advertisement64 2013-02-27 3 5 V MM W *K n ■w Jb k£ N X -*V v VV-^ 1 u. I 5SSSS i 1/ s y. f V 'w V/ < m Breguet, the innovator Classique Tourbillon 5317 > m s? 5* v k 5f- V As s# Depuis 1775 TOURBILLON EXHIBITION exclusively at64 words
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Advertisement122 2013-02-27 5 ROOF DOWN NOT PERFORMANCE. Usually when the roof comes off a coupe, rigidity is compromised. Heavy strengthening braces have to be added. But our 12C Spider is built with the same carbon fibre MonoCell as the Coupe so there’s no loss of rigidity. Which means we keep weight to a122 words
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COMPANY NEWS
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570 2013-02-27 6 ANDREA SOH - Part of funding for US$555.8m acquisition to come from rights issue By ANDREA SOH IN a move that could transform the company into one of the largest producers of fishmeal and fish oil in the world, China Fishery Group is planning to acquire570 words
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Article, Illustration471 2013-02-27 6 LEE MEIXIAN - By LEE MEIXIAN LOWER revenue combined with fair-value changes dragged Wheelock Properties into the red for the fourth quarter. The group yesterday reported a net loss of $30.8 million for the three months ended Dec 31, 2012, compared with a net profit of $121ST FILE PHOTO - 471 words
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Article, Illustration403 2013-02-27 6 KENNETH LIM - Disposal of a stake of 12.5% came at low end of $2.60-2.66 range By KENNETH LIM SHARES of Global Logistic Properties (GLP) fell yesterday amid concerns about weak demand for the stock as the Government of Singapore Investment Corp’s (GIC) 12.5 per centSource: Bloomberg - 403 words
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363 2013-02-27 6 TEO SI JIA - Full-year earnings fall 31% on lower revenue and margin By TEO SI JIA AFTER six consecutive years of record earnings, Yongnam Holdings’ 2012 full-year net profit dived $19.9 million, or 31.3 per cent, to $43.51 million, as lower revenue coupled with a poorer gross363 words
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Article, Illustration405 2013-02-27 6 CARINE LEE - By CARINE LEE BREADTALK Group Limited’s fourth-quarter net profit rose 6.4 per cent from a year ago to $4.19 million as turnover climbed 19.1 per cent $119.74 million. While gross profit margin was stable at 54.8 per cent, distribution and selling expenses405 words
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Article, Illustration623 2013-02-27 7 JOYCE HOOI - It’ll help advertisers target subscribers and gain access to subscriber data By JOYCE HOOI SINGTEL-OWNED mobile ad firm Amobee is flexing some telco muscle through a big data partnership with operators in the region, it announced yesterday. The firm will team up623 words
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307 2013-02-27 7 KENNETH LIM - By KENNETH LIM BUY the taxman a Delifrance baguette. A one-time tax credit helped to pull Auric Pacific into the black in 2012, the baker of Sunshine bread and owner of Delifrance cafes said yesterday. Auric Pacific returned to profitability in the quarter ended307 words
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Article477 2013-02-27 7 Full year and Q4 results ended Dec 2012 Full year ended Dec 2012 NET PROFIT (S$M) TURNOVER (S$M) CURRENT PREVIOUS CHNG CURRENT PREVIOUS CHNG Q4 ended Dec 2012 NET PROFIT (S$M) TURNOVER (S$M) CURRENT PREVIOUS CHNG CURRENT PREVIOUS CHNG Semb Corp Ind 753.28 809.28 -6.9 *****.06 9047.07477 words
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299 2013-02-27 7 JOYCE HOOI - By JOYCE HOOI KEPPEL Offshore Marine Ltd (Keppel O&M) has bagged two contracts worth $200 million through its subsidiaries, Keppel FELS Brasil and Keppel Shipyard. The Keppel FELS contract is for the integration of the topside modules of a floating production storage and299 words
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Article, Illustration429 2013-02-27 9 LYNN KAN - Figure pulled down by poorer margins at its offshore rigbuilding unit By LYNN KAN POORER margins at its offshore rigbuilding arm dragged Sembcorp Industries’ fourth quarter net profit down 19 per cent year-on-year to $204.7 million from $251.9 million. However, topline in the October-December quarterPHOTO: BLOOMBERG - 429 words
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262 2013-02-27 9 VEN SREENIVASAN - By VEN SREENIVASAN MAINBOARD-listed Boustead Singapore has clinched a $30 million contract to build a condensate polishing plant to produce high-grade boiler feedwater for a thermal power plant in Taiwan. The job, clinched via its water-and-wastewater unit Boustead Salcon, is essentially to design, engineer and262 words
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COMPANY BRIEFS
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50 2013-02-27 9 HONG Leong Finance’s net profit for the year ended Dec 31, 2012, fell 22.3 per cent to $77.56 million. Net interest income/hiring charges dipped 6.2 per cent to $153.95 million. Earnings per share fell to 17.6 cents from 22.65 cents the year before.50 words
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62 2013-02-27 9 KS Energy yesterday said Yakki International Pte Ltd, which it jointly controls with Sinwa Limited, has agreed to sell the vessel KS Titan 2 for US$42 million. The vessel is sold on an “as-is, where-is” basis. The sale is in line with62 words
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50 2013-02-27 9 ASPIAL Corp has posted a 21 per cent increase in net profit to $54.86 million for the year ended Dec 31, 2012. Revenue for the period gained 8 per cent at $453.90 million. It proposed a final dividend of 1.8 cents a share.50 words
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93 2013-02-27 9 STX OSV Holdings’ fourth-quarter net profit plunged 80.6 per cent to 124 million Norwegian krone (S$27 million). Revenue for the last quarter of 2012 fell 18.8 per cent year on year to 2.52 billion krone. For the full year, net profit was 43.493 words
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Article67 2013-02-27 9 FURNITURE company HTL International Holdings’ net profit for the fourth quarter dived 81.1 per cent year on year to US$748,000. For the three months ended Dec 31, 2012, its revenue slid 7.8 per cent down to US$137.9 million. Its net profit for the full67 words
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115 2013-02-27 9 CHINA Animal Healthcare Ltd, a leading player in the animal drugs industry in China, posted a 41.81 million yuan (S$8.3 million) loss for the fourth quarter ended Dec 31, 2012, due to early redemption of convertible bonds. Boosted by the surge in115 words
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Article275 2013-02-27 9 Bloom berg MAPLETREE Investments Pte plans to sell shares in an initial public offering (IPO) of a real estate investment trust (Reit) at the top end of a marketed range, raising about $1.6 billion, said three people with knowledge of the matter. Mapletree GreaterBloomberg - 275 words
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Page 6 Advertisements
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Advertisement117 2013-02-27 6 Mikuni Celebrates Hina Matsuri 1 to 10 March 2013 Traditionally celebrated in Japan on 3 March, Hina Matsuri (Doll’s Festival or Girl’s Day) is a day for loved ones to unite in prayer for young girls’ happiness and growth. For this special festival, Executive Chef Moon creates a lunch bento117 words
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Advertisement83 2013-02-27 7 f VS •y vr I L sot SINGAPORE UNIT TRUSTS Amanah Mutual Berhad (*****4-U) 34 th Floor, Menara PNB, 201-A, Jalan Tun Razak, ***** Kuala Lumpur, Malaysia. AMB Client Services Tel (603) 2034 0800 Fax (603) 2163 3212/2535 E-mail ambcare@pnb.com.my A member company of the Permodalan Nasional Berhad Group Distribution83 words
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SINGAPORE MARKETS
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Article, Illustration585 2013-02-27 8 R SIVANITHY - ST Index slides 1.1 per cent following Wall Street’s hefty loss on Monday STOCKS R SIVANITHY Senior Correspondent AN unpopular but not wholly unexpected election result in Italy and a sudden realisation that US spending cuts will kick in from March 1 onwards ifSource: Bloomberg - 585 words
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Article73 2013-02-27 8 Feb 26 VALUE CLOSE BT OB/OS 91.00 -305.00 BT CADI -*****.00 -221.00 BT 10-day MA -*****.00 +9.00 FTSE ST Mid Cap 812.17 -4.75 FTSE ST Small Cap 571.93 -5.24 FTSE ST All Share 803.33 -7.78 FTSE ST China Top 225.74 -3.56 FTSE ST China 256.87 -3.22 FTSE73 words
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Article52 2013-02-27 8 VOLUME GLP 656,112,000 CarrierNet 483,733,000 Teledata 408,189,000 WE Hldgs 384,929,000 Ntegrator 343,099,000 Magnus 325,707,000 Equation 307,961,000 LH Grp 273,208,000 Rowsley 175,487,000 HanKore 166,252,000 VALUE($) GLP 1,703,995,810 Rowsley 75,438,450 WE Hldgs 63,993,800 SingTel 61,544,380 SembMar 56,392,654 DBS Grp 56,374,155 Wilmar 55,004,420 Keppel Corp 53,810,700 Genting SP 50,953,185 UOB52 words
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Article185 2013-02-27 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 2 10 3 0 0 0 2 10 3 Manufacturing 32 86 32 6 11 8 38 97 40 Commerce 15 31 18 4 8 4 19 39 22 Tpt/Stor/Comms 5 29 9185 words
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Article123 2013-02-27 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 180,301 180,301 95,690 95,690 Manufacturing 1,027,938 1,074,193 2,102,131 301,620 25,158 326,779 Commerce 461,569 435,456 897,025 129,462 67,860 197,322 Tpt/Stor/Comms 118,451 12,297 130,748 164,729 4,336 169,065 Finance 71,648 964 72,612 177,347 465 177,812 Construction 260,009 116,364123 words
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Article955 2013-02-27 8 KENNETH LIM - Compiled by KENNETH LIM Wilmar International Feb 26 close: S$3.50 OCBC Investment Research, Feb 25 WILMAR International has posted a much stronger-than-expected set of FY2012 results. Although reported net profit was down 21.6 per cent at US$1,255.5 million, core earnings (down 23.1 per cent) at US$1,167.0 million was955 words
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Article110 2013-02-27 8 Stock name Close Change CapMallsAsia 2.040 -0.050 CapitaLand 3.860 -0.060 CapitaMall 2.130 -0.010 CityDev 11.150 -0.200 ComfortDelGro 1.900 DBS Grp 15.170 -0.070 F&N 9.440 GLP 2.570 -0.180 Genting SP 1.550 -0.035 Golden Agri 0.630 -0.015 HK Land 7.660 -0.090 IHH Healthcare 1.345 JMH 64.190 +0.440 JSH110 words
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Article, Illustration481 2013-02-27 8 CURRENCIES Bloomberg [LONDON] The euro strengthened from a seven-week low against the US dollar yesterday as Italian and Spanish bonds trimmed losses on easing concern that inconclusive elections in Italy will deepen Europe’s debt crisis. The euro advanced against 12 of its 16Bloomberg; PHOTO: REUTERS - 481 words
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Article114 2013-02-27 8 BY CENTS CLOSE UP GLD 10US$ ***** 127.5 0.7 DBXT S&P Short 10US$ 3324 70.6 1.7 JMH 6419 54.5 0.7 OCBC Bk 5.1%NCPS 100 ***** 10.0 0.1 Chem Ind 54.5 9.5 21.1 DairyFarm 1330 7.4 0.5 IS Asia BND 100US 1079 6.2 0.5 Lyxor MS India 10US$ 1410 6.2114 words
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Article126 2013-02-27 8 BY CENTS CLOSE DOWN DBXT FTVietnam 10US$ 2420 -199.3 -6.2 DBXT DBLCI-OY 5US$ 3750 -187.0 -3.9 DBXT E50 10US$ 3963 -187.0 -3.7 JSH 3730 -148.6 -3.1 DBXT MSKorea 10US$ 6104 -95.3 -1.2 Jardine C&C 5080 -74.0 -1.4 DBXT FTChina25 10US$ 2898 -54.5 -1.5 Lyxor Europe 10 US$ 1295 -52.0126 words
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Page 9 Advertisements
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Advertisement155 2013-02-27 9 k e9~ss* «7ip ftp s*. K w no V IT A 4ff II M < it .tStiv s x r> a new event experience de si pried around you From international conferences to your next annual event, at the rejuvenated Pan Pacific Singapore you can meet, greet and entertain in155 words
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SINGAPORE NEWS
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529 2013-02-27 10 MALMINDERJIT SINGH - Regional financial system in urgent need of upgrading, say policymakers By MALMINDERJIT SINGH IT IS time for Apec to go beyond the Bogor Goals and focus on trade issues that are more relevant to the new economic environment, given the urgent need529 words
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Article, Illustration333 2013-02-27 10 MARIA MALA YOGALINGAM - By MARIA MALA YOGALINGAM ESSEC Business School marked the start of the construction of its $40 million campus with a groundbreaking ceremony yesterday. The Singapore campus, ESSEC’s first independent campus outside France, will be a five-storey building situated on a 5,430 square metre333 words
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391 2013-02-27 10 JASMINE NG - By JASMINE NG A PLOT of land at Punggol Point zoned for food and beverage (F&B) use has drawn a highest bid of $11.4 million, pipping eight other offers. The offer, which works out to $3,789.6 per square metre of gross floor391 words
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508 2013-02-27 11 RONNIE LIM - Asian markets will benefit from the gas shipments, expected to start in 2015 By RONNIE LIM MORE Singapore money is being ploughed into an LNG project in the US which now expects to start shipping liquefied natural gas from shale gas508 words
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328 2013-02-27 11 GRACE NG - Ranked at No 29, it is the only Asian law firm in top 30 By GRACE NG SINGAPORE law firm WongPartnership LLP has broken into this year’s list of the top 30 international arbitration practices compiled by Global Arbitration Review (GAR). The only Asian law328 words
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Article, Illustration399 2013-02-27 11 GRACE NG - By GRACE NG CITIBANK yesterday announced the debut of Singapore’s first contactless payment tag for credit-card payments. The Citibank Quick Pay Tag takes the form of a sticker, which can be attached to, say, one’s mobile phone, and is linked to one’s existing Citibank Visa399 words
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Page 10 Advertisements
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Advertisement1523 2013-02-27 10 >®! WATS NOTICES Toll free 1800-289-8822 Email notices@sph,com.sg www.cats.com.sg/notices ENGRO CORPORATION LIMITED Company Registration No. *****2229H (Incorporated in the Republic of Singapore) LOST SHARE CERTIFICATES Notice is hereby given that the following share certificates have been reported lost, destroyed or mislaid:Name Certificate No. No. of Shares Ong Nominees Pte Ltd1,523 words
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Advertisement279 2013-02-27 10 IN THE MATTER OF THE COMPANIES ACT, CAP 50 SECTION 291 (1) AND IN THE MATTER OF LOGAN HOTELS RESORTS DEVELOPMENT CO PTE. LTD. UEN *****4156H STATUTORY DECLARATION BY DIRECTORS OF THE COMPANY’S INABILITY TO CONTINUE BUSINESS BY REASON OF ITS LIABILITIES I, Tiong Hin Won Eric of 28 Leonie279 words
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Advertisement246 2013-02-27 10 www.omy.sg J I! 2CU 3 news.omy.sg W [CATS NOTICES GOOD GAINS Let your investors know by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. S WATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF RICOH PRINTING SYSTEMS246 words
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Page 11 Advertisements
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Advertisement170 2013-02-27 11 Combining 212 years of experience, 50 locations worldwide and 2 leading teams with 1 single goal to offer you: the new reference in wealth management. Julius Baer welcomes all clients of Merrill Lynch’s International Wealth Management outside the U.S. Through the perfect combination of private client heritage and investment expertise170 words
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MALAYSIA/INDONESIA
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Article, Illustration446 2013-02-27 12 PAULINE NG - It cites Turkey unit’s consolidation, gains from Mt Elizabeth Novena’s sale By PAULINE NG in Kuala Lumpur INTEGRATED Healthcare Holdings Bhd (IHH) has posted a reasonably healthy set of figures for the year ended December, with a 7 per cent rise in profit afterPHOTO: BLOOMBERG - 446 words
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Article, Illustration686 2013-02-27 12 S JAYASANKARAN - Morgan Stanley says any outcome could affect reform plans By S JAYASANKARAN in Kuala Lumpur A US investment bank has plumped for more of the same in Malaysia saying that near-term policy continuity and the reform agenda would only come through maintaining thePHOTO: AFP - 686 words
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Article341 2013-02-27 12 [KUALA LUMPUR] UEM Group can count the cancellation of its bid to build roads and bridges in Turkey as a blessing in disguise, say analysts from Maybank Securities and CIMB Securities, who spoke on condition of anonymity. They said UEM Group a company of341 words
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381 2013-02-27 12 Reuters [JAKARTA] Indonesia’s Parliament yesterday said that a 52-member commission would review the nomination of the country’s finance minister to become head of the central bank, though some MPs have already questioned whether he is the right man for the job. PresidentReuters - 381 words
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122 2013-02-27 12 Reuters [JAKARTA] Indonesia’s third biggest flour mill PT Sriboga Raturaya plans to raise up to 700 billion rupiah (S$89.4 million) in an initial public offering (IPO) this year, the company said yesterday. “We are preparing an IPO this year, for 25 per centReuters - 122 words
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Page 12 Advertisements
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Advertisement59 2013-02-27 12 kiSS92 FM I Get the iconic YSL Muse Bowler bag you always wanted. Tune in to Kiss92 to find out how to make this yours! PARTNER RE E B O N Z REEBONZ.COM Kiss us always! like us on D facebook.com/kiss92fm follow us on 0kiss92fm www.kiss92.sg DOWNLOAD THE KISS92 MOBILE59 words
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GREATER CHINA/INDIA
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Article, Illustration573 2013-02-27 13 The plan will help boost earnings for the world’s 3rd-largest network Bloomberg [NEW DELHI] Indian Railways, Asia’s oldest network, plans to link passengers fares and freight rates with fuel prices for the first time as it seeks to cut moreBloomberg; PHOTO: AFP - 573 words
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395 2013-02-27 13 Reuters [TORONTO] The contentious US$15.1 billion takeover of Canadian oil and gas company Nexen Inc by Chinese state-owned entity CNOOC Ltd closed on Monday, more than seven months after China’s larg-est-ever foreign takeover was announced. Nexen, based in Calgary, Alberta, said in a statement onReuters - 395 words
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Article, Illustration493 2013-02-27 13 AFP [SHANGHAI] Teenage boys in a Shanghai school are on the front line of teaching reform after the world’s top-scoring education system introduced male-only classes over worries that they are lagging girls. Rows of white-shirted boys are put through their paces asAFP; PHOTO: AFP - 493 words
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315 2013-02-27 13 Xinhua [BEIJING] The Chinese government is pressing local planning authorities to speed up plans for land supplies for housing in a bid to maintain stability in the property market. The Ministry of Land and Resources (MLR) ordered its local branches to report thisXinhua - 315 words
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Article, Illustration321 2013-02-27 13 AP [NEW DELHI] India’s top investigative agency is looking into the role a former air force chief played in a US$750 million helicopter contract marred by reports of bribery. Shashi Tyagi and three of his cousins are among 11 people and two companies atAP - 321 words
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211 2013-02-27 13 Bloomberg [SAN FRANCISCO] Tata Consultancy Services (TCS), Asia’s largest software-ser-vices provider, agreed to pay US$29.8 million to settle a wage dispute in California with workers who were sent to work in the US from India. Terms of the settlement are described in a FebBloomberg - 211 words
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Advertisement178 2013-02-27 13 OFFSHORE ASIA 6-8 MARCH 2013 Kuala Lumpur Convention Centre (KLCC) Kuala Lumpur Malaysia INVESTING IN ASIA’S ENERGY FUTURE The annual Offshore Asia Conference Exhibition remains the leading source of information on new technology and operating expertise for the Asia-Pacific region.The three-day conference will explore emerging trends and current solutions facing178 words
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ECONOMY WATCH
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941 2013-02-27 14 Big jump in capital requirements could further choke off supply of credit Reuters [LONDON] Britain’s banks could need tens of billions of pounds more capital as part of a crackdown on internal risk models that are deterring investors and undermining effortsReuters - 941 words
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Article, Illustration534 2013-02-27 14 Polite speech invokes FrenchGerman solidarity NYT [FRANKFURT] The head of the German central bank said on Monday that France should not give up trying to bring its government deficit below 3 per cent of gross domestic product (GDP), adding to the criticism being heaped onNYT; PHOTO: REUTERS - 534 words
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413 2013-02-27 14 AP [ATHENS] The recession in Greece has cut output by 20.1 per cent between 2008 and 2012, but the country’s economy is “clearly improving” after avoiding the dangers of a default and euro exit, the governor of the Bank of GreeceAP - 413 words
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458 2013-02-27 14 Reuters [TOKYO] The Bank of Japan (BOJ), gearing up for a new leadership expected to pump cash into the economy more forcefully, has conducted a rare, nationwide campaign to promote a cheap-loan scheme for commercial banks, central bank officials said yesterday.Reuters - 458 words
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Article, Illustration368 2013-02-27 14 Reuters [LONDON, Ontario] Banks and regulators need to do a lot more to rebuild the trust in the financial system that was shattered in the recent crisis, Bank of Canada governor Mark Carney, head of the G-20’s Financial Stability Board, said onReuters; PHOTO: AP - 368 words
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WORLD
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726 2013-02-27 15 NEIL BEHRMANN - Bank shares down 5-10 per cent; 10-year bond yields reach 4.92% By NEIL BEHRMANN in London A MUDDLED political logjam in Italy abruptly ended complacency in European markets as Italian bonds and banks and other stocks led the way down a steep slope.726 words
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Article, Illustration726 2013-02-27 15 LATEST US DATA Bloom berg AP [WASHINGTON] Purchases of new homes in the US jumped in January to the highest level since July 2008, showing that the industry will keep adding to growth in the economy. Sales surged 15.6 per cent to aBloomberg; AP; PHOTO: AFP - 726 words
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Article, Illustration880 2013-02-27 15 NYT [NEW YORK] Since Marissa Mayer became chief executive of Yahoo, she has been working hard to get the Internet pioneer off its deathbed and make it an innovator once again. She started with free food and new smartphones for everyNYT; PHOTO: REUTERS - 880 words
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618 2013-02-27 15 CME’s stock still commands a high valuation Bloomberg [LONDON] While US$17 billion of lost market capitalisation has cost CME Group Inc the title of the world’s most valuable exchange owner, its stock commands a valuation that would make buyingBloomberg - 618 words
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Article, Illustration813 2013-02-27 16 Beppe Grillo’s Five Star Movement bags around a quarter of the votes cast Re uters [ROME] The massive winner in the Italian elections is Beppe Grillo, a shaggy haired comedian whose anti-establishment Five Star Movement (Movimento 5 Stelle or M5S) could well become theReuters; PHOTO: REUTERS - 813 words
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Article, Illustration1174 2013-02-27 16 Reuters [WASHINGTON] Famed US economist Milton Friedman once observed that a recovery from recession is like plucking a guitar string: the harder the economy is pushed down, the faster it snaps back. That didn’t happen when America began to exitReuters; PHOTO: AFP - 1,174 words
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265 2013-02-27 16 Bloomberg [LONDON] The UK government formally started the search for a replacement body to oversee the London interbank offered rate as it tries to restore credibility to a benchmark tainted by scandal. A seven-member panel including Sarah Hogg, chairman of the Financial ReportingBloomberg - 265 words
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615 2013-02-27 16 Some banks have begun to press their case to the authority Reuters [LONDON] London-based investment banks are growing increasingly concerned that a split of the Financial Services Authority in April will delay approvals for sen-ior-level employees, with two rubber stampsReuters - 615 words
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Article, Illustration620 2013-02-27 17 ANTHONY ROWLEY - BOE chief also hints at political pressures to pursue hyper-easy monetary policies By ANTHONY ROWLEY in Tokyo MONETARY easing in advanced nations may have reached its limit as a means of re-igniting economic growth, Bank of England (BOE) governor Mervyn King suggestedPHOTO: AFP - 620 words
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781 2013-02-27 17 Reuters [TOKYO] The yen has quickly dived to near three-year lows, but one Japanese sector with serious currency clout has yet to be heard: big insurers who control a combined US$2 trillion in assets. Conventional wisdom holds that a weakening yen and strongerReuters - 781 words
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Article, Illustration764 2013-02-27 17 Move expected to help start building credit card market Reuters [YANGON] Two banks owned by tycoons associated with Myanmar’s former military regime will start to do business with US companies and investors in the latest reward for theReuters; PHOTO: AFP - 764 words
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515 2013-02-27 17 The penalty may come as soon as May, says a source Bloomberg [LONDON] Rabobank Groep faces a fine of more than US$440 million for Libor rigging as global regulators seek to increase the US$2.5 billion in penalties already levied in theBloomberg - 515 words
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738 2013-02-27 18 Once spending cuts kick in on Friday, he hopes outrage will spur negotiation [WASHINGTON] The White House, while advancing an aggressive public relations campaign to highlight the damaging effects of US$85 billion in automatic spending cuts, is largely738 words
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Article, Illustration606 2013-02-27 18 AFP [BARCELONA] Global financial groups battled on Monday to control the lucrative future of “mobile money”, which will enable people to use a smartphone to go shopping instead of cash and credit cards. MasterCard, Visa and online payments service PayPal struggled for a sliceAFP; PHOTO BLOOMBERG - 606 words
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Article, Illustration842 2013-02-27 18 Bloomberg [LONDON] Royal Bank of Scotland Group plc (RBS) chief executive officer Stephen Hester is being pressed by the UK government to sell more assets and bolster capital as the Treasury tries to recoup some of its £45.5 billion (S$85 billion) investment inBloomberg; FILE PHOTO - 842 words
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438 2013-02-27 18 AP [NEW YORK] The International Herald Tribune, one of the most enduring brands in journalism history, is getting a new name: The International New York Times. The rebranding of the 125-year-old newspaper announced on Monday comes as The New York Times CoAP - 438 words
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Article, Illustration490 2013-02-27 18 AFP [NEW YORK] The Nobel Prize awarded to Francis Crick in 1962 for discovering the structure of DNA has been put up for auction by his family along with one of his lab coats, his books and other memorabilia. It is believedAFP; PHOTO: AFP/HERITAGE AUCTIONS - 490 words
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Article, Illustration768 2013-02-27 19 Exports may help energy firms’ profits but local groups fear loss of cheap fuel Reuters [WASHINGTON] Chief executives from some of the largest US companies offered an energy blueprint on Monday that would expand drilling but they dodged thorny questions suchReuters; PHOTO: REUTERS - 768 words
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914 2013-02-27 19 Reuters [CALGARY, Alberta] The US shale oil revolution is forcing Canada’s oil sands industry to question whether there is a future in processing its crude into lighter oil, a tried-and-true way of wringing the most money out of a resource considered crucial toReuters - 914 words
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Article290 2013-02-27 19 AFP [BERLIN] Germany recorded increased emissions in greenhouse gases last year, due to more coal and gas usage, while the country seeks to develop its renewable energy sources, officials said on Monday. Germany, which has committed to phase out nuclear power, emitted the equivalentAFP - 290 words
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Article, Illustration440 2013-02-27 19 AFP [WASHINGTON] Scientists said on Monday that they have identified a physical mechanism behind the extreme weather that has plagued many parts of the world in recent years and that it is tied to climate change. Since 2010, for example, the UnitedAFP; FILE PHOTO - 440 words
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570 2013-02-27 20 US Treasury Dept opposes EU tax, warns that it could harm US investors Bloomberg [WASHINGTON] The European Union’s tax commissioner urged US supporters of a financial transaction tax to keep up their efforts and said that a global tax should be aBloomberg - 570 words
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Article, Illustration518 2013-02-27 20 NYT [NEW YORK] Mary Jo White appears poised to face a Senate confirmation hearing next month, a crucial step for the former federal prosecutor on her path to becoming the top Wall Street regulator. Ms White, whose nomination to lead the SecuritiesNYT; PHOTO: AFP - 518 words
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Article, Illustration778 2013-02-27 20 But Jacob Lew seen getting Senate committee’s nod AFP [NEW YORK] As the Senate gears up to vote on the next Treasury Secretary, President Barack Obama’s choice for the job, Jacob Lew, has been forced to navigate through something of a political minefield. As White HouseAFP; PHOTO: AP - 778 words
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411 2013-02-27 20 He said last year he was keen on a night race AFP [SYDNEY] Formula One ringmaster Bernie Ecclestone said yesterday he would happily sign a contract for Melbourne to host the Grand Prix for 50 years, declaring “everybody loves Australia”. The sportAFP - 411 words
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433 2013-02-27 20 India is a very important market for firm, he says Bloomberg [NEW YORK] News Corp executive James Murdoch, son of the media company’s founder Rupert Murdoc h South-east Asia and Latin sa id v i ewers i n South-east AsiaBloomberg - 433 words
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Page 18 Advertisements
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Advertisement21 2013-02-27 18 I Discover Greener Pastures I Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices ICLA/FEBI 1/g21 words
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Transport HUB
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648 2013-02-27 21 DAVID HUGHES - Positions in legal, insurance and shipbroking more promising than perceived STRAIT TALK By DAVID HUGHES THE shipping industry needs a large number of qualified and experienced mariners working ashore in management and other roles. As someone who came ashore some 30 years ago648 words
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Article, Illustration710 2013-02-27 21 Bloomb erg [COPENHAGEN] The owner of the world’s biggest container line is taking advantage of a shadow rating that rivals the credit grades of its lenders to sidestep banks and make bond sales a fixed feature of its funding. After firstBloomberg; PHOTO: REUTERS - 710 words
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338 2013-02-27 21 Reuters [BANGALORE] The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry commodities, rose on Monday primarily driven up by higher panamax rates. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysizeReuters - 338 words
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499 2013-02-27 21 Record deliveries of new ships curbing earnings, cash flows Bloomb erg [LONDON] Asian banks are prolonging the shipping industry’s worst slump in decades by lending more money to fund building of vessels ordered from local yards, according to HSH Nordbank AG, the world’sBloomberg - 499 words
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Article240 2013-02-27 21 SGX '000 Feb 26 S$ +/-Vol CH Offshore '000 Chuan Hup Hldg 0.29 -0.01 391 Cosco Corp 0.94 -0.02 2998 Ezra Hldgs 1.13 -0.01 5091 First Ship Lea 0.13 unch 119 Freight Links 0.08 unch 7415 Grand Banks unch unch 0 Jaya Hold Ltd ....0.29 K1Ventures -0.01 Keppel240 words
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TRANSPORT HUB: AVIATION
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721 2013-02-27 22 Leasing firm favours dip in output as manufacturers complete jet revamp Reu ters [PARIS] Leasing company Avolon urged Airbus and Boeing Co on Monday to show restraint in production in coming years to avoid upsetting a crucial balance in the marketReuters - 721 words
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Article, Illustration679 2013-02-27 22 Reu ters [WASHINGTON] The Pentagon said it was sending the affected parts of an F-35 test plane that was involved in an incident on Feb 14 that caused smoke in the cockpit, back to their manufacturer, Honeywell International Inc for a detailedReuters; PHOTO: REUTERS - 679 words
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522 2013-02-27 22 Business-class passengers benefit as battle for well-off customers heats up NYT [NEW YORK] Those flat-bed seats for international business-class fliers? Now that most airlines offer them, they are not so special anymore. Instead, in the newest iteration of the battle for deep-pocketed fliers, theNYT - 522 words
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Article, Illustration527 2013-02-27 22 Move to meet rising demand for plane’s largest version Bloomb erg [SINGAPORE] Airbus SAS said it’s looking to add another assembly line for the new A350 wide-body jet, a competitor to Boeing Co’s troubled 787 Dreamliner, to meet rising demand for the plane’s largestBloomberg - 527 words
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TRANSPORT HUB: LAND
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684 2013-02-27 23 Ministry of Railways may be united with agencies that oversee road and air travel AP [BEIJING] The Ministry of Railways operates ultramodern bullet trains but its singular focus on rail at a time of booming car ownership and air travel makes it a relicAP - 684 words
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Article, Illustration640 2013-02-27 23 Bloomberg [LOS ANGELES] Acura’s future was so dire four years ago that Honda Motor Co began killing models and choking off product development. Now, Honda is putting US$1 billion into its luxury brand, a perennial also-ran to Toyota Motor Corp’s Lexus line.Bloomberg; PHOTO: REUTERS - 640 words
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Article, Illustration529 2013-02-27 23 AP [DETROIT] The National Highway Traffic Safety Administration (NHTSA) says it will investigate problems with stalling or surging engines in nearly 725,000 Ford cars and sport utility vehicles (SUVs). The probe affects Ford Escape and Mercury Mariner SUVs and Ford Fusion and Mercury MilanAP; PHOTO: AFP - 529 words
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600 2013-02-27 23 It expects to boost sales in the country this year by 22% Bloomberg [SHANGHAI] PSA Peugeot Citroen predicts China will overtake France as its biggest market from as early as 2015, as Europe’s second largest carmaker increases the number of dealershipsBloomberg - 600 words
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Page 21 Advertisements
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Advertisement123 2013-02-27 21 MARINA BAY SANDS, SINGAPORE February 26 28, 2013 10:00 TO 18:00hrs www.bairdmaritime.com IS ALL IT TAKES TO CONTACT: ASIAN WORK BOAT 2013 EXHIBITION BUT, WITH SO MUCH TO SEE, ONE VISIT SURELY WON’T BE ENOUGH. ENTRY IS FREE– All Welcome! Don’t miss the FIVE ASSOCIATED CONFERENCES. Check our website for123 words
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Page 22 Advertisements
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Advertisement12 2013-02-27 22 Restrictions oncarloans mayextendtolicensed moneylenders To subscribe, call 6388-3838 or go to sphsubscription.com.sg12 words
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Page 22 Miscellaneous
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Miscellaneous285 2013-02-27 22 CRYPTIC CROSSWORD Across 7 Writer of rhymes, say, is Tennyson (8) 9 Stretched, say, getting conditioned (6) 10 Sink for doctor before surgery (4) 11 Anthem is played catching American fervour (10) 12 …you can count on it! (6) 14 The plane crashed into jumbo (8) 15 Small rebuke pinching285 words
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Page 23 Advertisements
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Advertisement25 2013-02-27 23 PHI LIGHTNING STRIKES CATCH THE ALL NEW NISSAN HOT FM91.3 THUNDER TRUCK TUNE IN TO HOT FM91.3 FOR MORE INFO WWW.HOTFM.SG FACEBOOK.COM/HOTFMSG I 3* HOTFMSG25 words
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Advertisement73 2013-02-27 23 MARCH ISSUE OUT NOW! ABS 101/ BEAT IT! THENO.ICANCER AFFLICTING -i. STORE MEN YOUR COMPLETE GUIDETOGETTINC A SIX-PACK P96 FOOD RULES ITIONISTS LIVE BY RUNNER'S MIND TRICKS CFDR YOUR FASTEST RACEEVER) Ear for AUs .la's-.. l( THE BEACH Ip/uslYhe lrutti Jk i nr i ISSUf HH-APPHOVtU 8-HOUR DIET $20HOMEGYM FORATOTALBODY.,.,,73 words
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EDITORIAL & OPINION
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456 2013-02-27 24 EDITORIAL THE Singapore government’s commitment to more than double its spending on the pre-school sector to over $3 billion over the next five years will provide a huge boost for this long-neglected industry. It is also a major step towards fostering equality of456 words
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Article, Illustration774 2013-02-27 24 FRANK CHING - THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 WHEN Prime Minister Shinzo Abe visited Washington last week for a summit meeting with President Barack Obama, he was asked about Japan’s774 words
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Article, Illustration1189 2013-02-27 24 YOGI AGGARWAL - Lack of geological data affects gas fields’ development; coal sector hit by low investment YOGI AGGARWAL The writer is a Mumbai-based journalist who contributes regularly to BT INDIA’S energy problems run deep. The electricity sector is not the only one constrained by populist governmentPHOTO: AFP - 1,189 words
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Article, Illustration1468 2013-02-27 25 ARTHUR CHAI - Demand for swift mobile computing and communication is establishing a new world order for top computing names By ARTHUR CHAI The writer is equity analyst for the Asian equity team at Eastspring Investments in Singapore, a subsidiary of Prudential plc, UK THE wave of innovationPHOTO: BLOOMBERG - 1,468 words
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Article, Illustration723 2013-02-27 25 SUNIL AGARWAL, CHARLES COLLETT - By SUNIL AGARWAL, CHARLES COLLETT The writers are tax partner and senior tax manager respectively at PwC THIS year’s Singapore Budget was labelled a Budget for “quality growth” by the Minister for Finance, Mr Tharman Shanmugaratnam, in Parliament on Monday. In order to achieve thatPHOTO: YEN MENG JIIN - 723 words
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Article2766 2013-02-27 26 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/New2,766 words
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Page 26 Advertisements
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Advertisement27 2013-02-27 26 Shippers looking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 The Business Times Shipping times27 words
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Advertisement18 2013-02-27 26 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times Shipping Times18 words
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Page 27 Advertisements
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Advertisement166 2013-02-27 27 Importers looking for Warehouse Can they find your services here in the Shipping Times? The Business Times TO ADVERTISE, CALL JOE WONG AT 9620 1327 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? The Business Times TO ADVERTISE, CALL JOE WONG AT166 words
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Advertisement14 2013-02-27 27 TO ADVERTISE IN .The Business Times MIL LIUJINLJJ IIIVILJ SHIPPING TIMES CALL JOE WONG14 words
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SINGAPORE STOCKS
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Article2995 2013-02-27 28 Transaction date: Feb 26 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company Last Sale Vol Da ('000) High 164 105.5 AIMSAMPIReit --AAT Div Gr Yld C'vr Net P/E M Cap Smil2,995 words
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Article195 2013-02-27 29 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company Last Sale 4.6 1.3 t Advanced System 2 unch 4996 2 2 2 2.1 29.8 Vol ('000) Day High Last Quote Low Buyer195 words
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Article10727 2013-02-27 29 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** Aberdeen Asset Mgt Asia Limited APS Alpha Fund (USD)!** 1.14/ Aberdeen Asset Mgt Asia Limited EM Local Ccy Bond 1.0023/ Asian Smaller Cos!' 1.9675/ EM Local Ccy Bond 1.0123/ European Opportunities!" 1.1395/ Global Emerging Markets10,727 words
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Article258 2013-02-27 29 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 50 25.5 AVJennings A39 unch 3 39 39 39.5 40.5 3.6 9 3.1 101.6 45.5 30 Genting HK US$ US44 -0.5 ***** 44.5 43.5 43.5 44 2897.2258 words
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Article965 2013-02-27 29 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 126 107.1 ABF SG Bond ETF 118.7 -0.1 85 118.9 118.7 117.5 118.8 541.8 135.9 120.4 CIMB APAC Div 100S$D 135.8 132.5 133 111.7 95.8 CIMB965 words
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FINANCE & COMMODITIES
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Article632 2013-02-27 30 Feb 26 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.66 *****.24 *****.83 Mar13 *****.00 *****.00 *****.00 *****.00 *****7 *****9 Jun13 *****.00 *****.00 *****.00 *****.00 797 ***** MSCI TAIWAN INDEX FUTURES SPOT 285.92 285.92 283.14 Feb13 286.70 288.20 283.20 283.59 *****1 ***** Mar13 286.60632 words
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373 2013-02-27 30 In local curr In S$ In US$ dy yr dy yr dy yr Feb 25 Index Change Change Change Change Change Change World Preliminary 1000.1 0.3 6.6 0.3 6.4 0.2 4.9 EAFE Preliminary 833.2 0.7 7.6 0.6 5.5 0.5 4.0 Europe Preliminary 1213.4 0.5 5.8373 words
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Article470 2013-02-27 30 Feb 26 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.051 6.391 0.786 7.959 55.560 99.594 0.942 11.170 3.185 1.234 100.692 41.813 1.271 9.056 0.956 30.498 30.635 0.676 1.026 Canada 0.951 6.080470 words
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Article68 2013-02-27 30 Feb 26 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 0.***** 3 mths 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths 0.***** SWAP Mid68 words
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Article134 2013-02-27 30 Feb 26 GOLD(US$/oz) Feb 26 Feb 25 Hong Kong 1605.70 1600.30 Feb 25 Feb 22 London 1587.80 1573.10 1588.68 1573.85 Source: Thomson Reuters CAST BAR Feb 26 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 143 64 5gm 405 318 10gm 724 635134 words
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Article92 2013-02-27 30 Feb 26 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****F 23-May-13 0.24 6-Month BS*****S 22-Aug-13 0.25 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*****0S 0.25 01-Feb-13 100.15 100.21 100.17 5-Year N*****0Z 2.37592 words
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Article57 2013-02-27 30 Feb 26 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Mar 13 2418.0 2387.0 2422.0 2380.0 700 5537 Apr 13 2436.0 2403.0 2451.0 2398.0 5112 ***** May 13 2460.0 2419.0 2474.0 2411.0 ***** ***** Jun 13 2475.0 2430.057 words
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Article154 2013-02-27 30 Feb 26 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2699 1.2714 1.0257 1.0262 Canadian dollar 1.2083 1.2093 0.9761 0.9759 Euro 1.6168 1.6183 1.3059 1.3062 NZ dollar 1.0291 1.0303 0.8312 0.8316 Sterling pound 1.8797 1.8813 1.5182 1.5185154 words
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Article108 2013-02-27 30 Feb 25 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Mar 13 1451.25 1461.25 1470.25 1438.50 May 13 1435.25 1443.75 1453.00 1421.50 Jul 13 1422.00 1429.00 1439.75 1408.00 Aug 13 1381.50 1389.50 1399.75 1371.50 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Mar 13108 words
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Article80 2013-02-27 30 Feb 25 COCOA (£/tonne) Close Prev High/Low Mar 13 1434 1424 1440/1422 May 13 1443 1434 1449/1435 Jul 13 1452 1442 1459/1439 Sep 13 1461 1449 1467/1453 COFFEE(US$/tonne) Close Prev High/Low Mar 13 2035 2048 2061/2026 May 13 2079 2087 2103/2070 Jul 13 2088 2096 2109/2079 Sep 13 209680 words
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970 2013-02-27 30 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 4 1 146 711 4.63 15 AlliedTech W*****2 Ratio Asiatravel.com HoldingsW*****7 3 unch 2 1 25 17 Asiatravel.com HoldingsW*****5 3.3 0.3 2 1 27 41 Prem Best World970 words
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Article70 2013-02-27 30 CRUDE OIL PRODUCTS Feb 25 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 114.82 1.02 WTI (Near Mth) 93.04 0.13 Dubai (1-Mth F) 110.72 1.12 Tapis blend 120.72 0.94 Minas 117.22 0.94 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 110.11 1.33 Jet Kerosene 132.43 0.05 US$/barrel OpecOil Basket70 words
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Article24 2013-02-27 30 Feb 26 S$ Bid Offer 1-month 1.2381 1.2390 2-months 1.2381 1.2390 3-months 1.2381 1.2390 6-months 1.2380 1.2389 Source: OCBC Source: OCBC24 words
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Article65 2013-02-27 30 Feb 25 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1993.25 2004.75 3 months 2037.00 2048.00 Copper, Grade A(US$/tonne) Cash 7811.50 7773.25 3 months 7836.00 7801.00 Lead(US$/tonne) Cash 2287.00 2291.75 3 months 2294.00 2304.00 Nickel (US$/tonne) Cash *****.00 *****.50 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.75 3 months65 words
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Article121 2013-02-27 30 As at 9am Feb 26 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.303 1.241 Can dollar 1.236 1.178 Euro 1.660 1.581 Sterling pound 1.915 1.842 NZ dollar 1.067 1.007 US dollar 1.264 1.204 Local dollars to 100 units of foreign121 words
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Article157 2013-02-27 30 Feb 26 $S Offer Bid 0vernight 0.04 0.02 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.03 US$ Offer Bid 7 days 0.22 0.12 1 month 0.28 0.18 2 months 0.40 0.20 3 months 0.45 0.25 6 months 0.60 0.40 9 months 0.75 0.55 12157 words
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Advertisement403 2013-02-27 31 Get Substance the UBS House View, the proprietary report from our Chief Investment Office. Go to www.ubs.com/investment-ideas or scan the QR code with your smartphone. H m is Chinese stocks are undervalued. Is your portfolio positioned for the bounce back To learn more, please call UBS at +65 *****772. We403 words
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executive Money
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998 2013-02-27 32 TEH HOOI LING - Two of Aberdeen’s country funds, Indonesia and Thailand, were best and second best out of 450 funds with 10-year track record in S’pore, says TEH HOOI LING TEH HOOI LING EMERGING country funds were the best performers among Singa-pore-registered unit trusts in the past998 words
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Article, Illustration838 2013-02-27 32 Emerging markets seen offering significant value next to US dollar debt Reuters CREDIT investors are turning to local currency corporate bonds to generate better returns after a prolonged rally in US-dollar debt left little upside. Michael Gomez, co-chief investment officer at Pimco, manager of theReuters; PHOTO: AFP - 838 words
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903 2013-02-27 32 NYT [NEW YORK] The investor euphoria that began the year is starting to seem like a hazy dream. After looking to be ready to rocket past milestone levels just a few weeks ago, the benchmark Standard Poor’s 500-stock index has been stalled, and isNYT - 903 words
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Article, Illustration1224 2013-02-27 31 ANDREW ROSS SORKIN - It can sometimes be used as a cover by substantial stakeholders to simply reap short-term profit, writesANDREW ANDREW ROSS SORKIN The writer is an award-winning American journalist and author, and a financial columnist for The New York Times. He wrote, among various noted books, the famousNYT; PHOTO: AP - 1,224 words
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Article, Illustration945 2013-02-27 31 KRISTINA HOOPER - Trend of non-revolving credit increasing and revolving credit decreasing continues By KRISTINA HOOPER The writer is US head of investment and client strategies at Allianz Global Investors AMERICANS are getting a better handle on credit card debt, buying big-ticket items and investing inPHOTO: AFP - 945 words
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Who's who in private banking
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Article, Illustration1387 2013-02-27 1 Siow Li Sen - By Siow Li Sen P RIVATE banks in Asia had a banner year last year, with some recording their fastest growth rates ever. The good news is that there may be a repeat performance this year as the global economy continues to improve. Last year1,387 words
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Article, Illustration1462 2013-02-27 2 EE - peter triggs has some suggestions for what an individual can do with his wealth when the mind starts to age EE The writer is managing director, head of International Clients and Wealth Structuring, DBS Private Bank I THINK most people would agree that the problemsPHOTO: STOCK.XCHNG - 1,462 words
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Article, Illustration800 2013-02-27 2 JACQUELINE KOO - By JACQUELINE KOO The writer is head of Asian Discretionary Portfolio Management, ABN AMRO Private Banking Asia THE concept of discretionary portfolio management (DPM) is becoming increasingly topical as private banking evolves in Asia. DPM is not new, especially among investors in Europe. InPHOTO: STOCK.XCHNG - 800 words
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Article, Illustration1080 2013-02-27 3 MARK MATTHEWS - Though Asian markets are buzzing, contrarian investing in Western markets could be the key to better returns, reckonsMARK MARK MATTHEWS The writer is head of Research Asia, Bank Julius Baer Co Ltd FROM Tokyo to Bangkok, 2013 has gotten off to a good start for AsianPHOTO: BLOOMBERG - 1,080 words
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Article, Illustration963 2013-02-27 3 ALEXANDER S FRIEDMAN - By ALEXANDER S FRIEDMAN The writer is the global chief investment officer of UBS Wealth Management and Wealth Management Americas and is the chair of the UBS Global Investment Committee SOMETIMES the difference between “safe” and “dangerous” can be counterPHOTO: REUTERS - 963 words
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Article, Illustration1099 2013-02-27 4 BRYAN HENNING - HENNINGtakes a closer look at FX and the use of derivative-linked strategies that savvy investors may favour BRYAN HENNING The writer is head of global research and investments, Asia, Barclays. MARKETS have rallied well at the start of 2013, with many investors looking toPHOTO: AFP - 1,099 words
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Article, Illustration1052 2013-02-27 4 LEE WOON SHIU - By LEE WOON SHIU The writer is head of Wealth Planning (Trust Insurance), Bank of Singapore PATRIARCHS and matriarchs of ul-tra-rich families, by virtue of the sheer magnitude of the wealth they have created, are uniquely placed to leave behind a treasure trovePHOTO: STOCK.XCHNG - 1,052 words
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Article, Illustration1294 2013-02-27 5 ByWILSON AW - Equity and bonds the tipping point Improving the odds of investment success requires investors to refocus from the short term to the longer term. By wilson aw ByWILSON ByWILSON AW The writer is head of Private Banking, United Overseas Bank 2012 was a boom year for fixed income. The strongSource: Bloomberg, UOB Private Banking - 1,294 words
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Article, Illustration891 2013-02-27 5 GARY DUGAN - By GARY DUGAN The writer is chief investment officer for Asia the Middle East in Coutts. AS we push ahead into the year, a couple of questions come to mind: Can equities continue their rally versus bonds? Can emerging market equities close theirPHOTO: REUTERS - 891 words
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Article, Illustration773 2013-02-27 6 BASSAM SALEM - The needs of the richest clients in Asia-Pacific have evolved, saysBASSAM BASSAM SALEM The writer is the Asia-Pacific chief executive at Citi Private Bank THE private banking and wealth-man-agement industry in Asia has changed significantly since the global financial crisis. The basic competencies ofFILE PHOTO - 773 words
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Article, Illustration891 2013-02-27 6 PETER FLAVEL - By PETER FLAVEL The writer is chief executive of JP Morgan Private Wealth Management Asia INTEREST rates continue to be at historic lows and are likely to stay that way for some time. Despite the US Federal Reserve’s recent hawkish statement, we do not891 words
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Article, Illustration884 2013-02-27 6 RAJESH MALKANI - By RAJESH MALKANI The writer is head of Private Bank (East) in Standard Chartered Bank TECHNOLOGY is progressively permeating and influencing all aspects of our lives and in so doing, is increasingly proving to be a tool for companies to884 words
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Advertisement96 2013-02-27 1 CONTENTS Preparing for the silver years Page 2 More Asians open to discretionary management Page 2 Time to look West? Page 3 In the realm of investing, ‘safe’ may well be dangerous Page 3 Strategies to get the best returns Page 4 Getting started on trust or estate planning Page96 words
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Advertisement1197 2013-02-27 7 -r~ Thanks to our clients' continued support and confidence, we have been voted the 'Best Private Bank in Singapore' and 'Top 5 Best Global Private Banks in Asia' (by HNWIs with US$5 milion to US$25 million AUM) in the Asiamoney Private Banking Poll 2012. We are very honoured and humbled1,197 words
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Advertisement1017 2013-02-27 8 Julius Baer the new reference in private banking Interview with Mr. David Urn, CEO Singapore and Head Private Banking South East Asia, Bank Julius Baer Q: Please tell me more about Julius Baer? Julius Baer Group is the leading Swiss private banking group, with an exclusive focus on servicing and1,017 words
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Advertisement878 2013-02-27 9 We want to ensure that our clients succeed under all economic circumstances. Together, we build a relationship that is rooted firmly in trust. And that trust is why Bank of Singapore has managed to forge strong partnerships with our clients. 55 Mr Renato de Guzman Chief Executive Officer Bank of878 words
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Advertisement910 2013-02-27 10 BNP Paribas Wealth Management is committed to clients'future by providing a holistic service offer Dialogues with the senior executives of BNP Paribas Wealth Management Q: How does BNP Paribas Wealth Management bring the best services to its clients? A: At BNP Paribas Wealth Management, we are committed to providing a910 words
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Advertisement688 2013-02-27 11 •a. BS A deeply personal approach At the heart of BSTs client promise is our commitment to a tailored, bespoke service and nothing can be more personal than helping a client prepare for retirement and even for death. It may sound trite but these plans must reflect the things most688 words
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Advertisement635 2013-02-27 12 During an age when technology can help you to execute and spot opportunities faster and information is ever abundant, our two centuries of banking experience tells us that clients seek insights over information and strive for simplicity when managing their lives and their wealth. Though technological innovation can provide that635 words
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Advertisement784 2013-02-27 13 m Exceptional clients require exceptional service. Coutts has an enduring reputation for exacting standards and an ability to lend intellect to resolve complex challenges. Michael Blake General Manager, Coutts Asia Exceptional Service for Exceptional People Established on the Strand in London in 1692, Coutts has over three centuries of experience784 words
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Advertisement751 2013-02-27 14 4 We believe in building unique and long-lasting relationship with every client. With trust and care, our culturally diversified team is committed to client's unique need in wealth planning and management. Wealth preservation and proactive care for our clients are the core competency and spirit of Credit Agricole Private Banking.751 words
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Advertisement909 2013-02-27 15 -V At Credit Suisse, we have an extremely solid and compelling Private Banking value proposition that has been consistently built over the long 157-year history of the bank. Today, Credit Suisse is uniquely positioned for having a strong Private Banking franchise as a core business and a leading collaborative integrated909 words
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Advertisement806 2013-02-27 16 ri N DBS Private Bank we know Asia best As a bank that specialises in Asia, we leverage our deep understanding of the region, local culture and insights to serve and build lasting relationships with our clients. Olivier Crespin Chief operating officer DBS Private Bank Why DBS Private Bank As806 words
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Advertisement1033 2013-02-27 17 Deutsche Asset Wealth Management integrity, expertise, and innovation new Deutsche Asset Wealth Management is a powerful proposition and will allow us to provide further value to our clients through closer collaboration within the franchise as well as with other divisions of the Bank. Ravi Raju, Head of Asia Pacific, Deutsche1,033 words
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Advertisement1108 2013-02-27 18 I I" 1 I r r p? i e business model is one of the key predicated on recruiting experienced CROs as business partners. 55 ingredients of EFG's success. It is and entrepreneurial bankers or Kong Eng Huat CEO for EEC Bank Singapore and Southeast Asia Niche and Strong EFG1,108 words
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Advertisement704 2013-02-27 19 Z7 In this dynamic environment, our size works to our advantage. We are positioned to be always relevant, nimble and reactive to our clients' needs. We have all the benefits of a global bank but with a size that provides us with a competitive edge. Post the 2008 financial crisis,704 words
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Advertisement1036 2013-02-27 20 Standard Chartered supports the Asian wealthy by serving their diverse needs. By collaborating across Private, SME and Wholesale Banking and delivering the whole bank to the client, we are able to offer services that span both personal and business wealth management. Rajesh Malkani Head of Private Bank East region Standard1,036 words
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Advertisement811 2013-02-27 21 UOB Private Banking stands for long-term thinking, trust, reliability and sustainability that our high net worth clients can count on. We have the knowledge and expertise to help our clients create, grow and preserve their wealth for generations to come. Wilson Aw CFA, Head of UOB Private Banking Private Bank811 words
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Advertisement1295 2013-02-27 22 Edmund Koh CEO, UBS Wealth Management Singapore and APAC Hub L UBS Wealth Management attracts and retains the best talent, to deliver superior investment advice and solutions for our clients. With over 150 years of expertise in wealth management, UBS is well positioned to serve the growing pool of wealthy1,295 words
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