The Business Times, 4 March 2013

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Total Pages: 30
1 30 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Monday, March 4, 2013
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  • 1133 1  -  Conflicting info makes it hard for property consultants here to advise clients By FELDA CHAY [SINGAPORE] Iskandar Malaysia may hold out promise to Singapore firms seeking a reprieve from high costs, or to property investors hunting down a lucrative residential project, but the process of
    PHOTO: SAINI SALLEH  -  1,133 words
  • MARKETS DIGEST
    • 57 1 Weekly Change ST INDEX 3,269.50 -18.63 KL COMP 1,637.44 +15.36 NIKKEI 225 11,606.38 +220.44 HANG SENG 22,880.22 +97.78 SET INDEX 1,539.60 -0.53 JAKARTA COMP 4,811.61 +160.49 MANILA COMP 6,642.27 -22.79 SEOUL COMP 2,026.49 +7.60 SHENZHEN B 849.69 +30.25 MUMBAI IND 18,918.52 -398.49 DOW 14,089.66 +89.09 NASDAQ 3,169.74 +7.92 S&P
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    • 20 1 SINGAPORE MALAYSIA HONG KONG 5.38 INDONESIA 5.00 TAIWAN 13.427 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN Source: Bloomberg
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    • 49 1 US$ S$ US$ (S$ per US$) 1.238 (US$/S$ per 1.517 1.878 EURO (US$/S$/E) 1.308 1.619 Foreign currency per US$ S$ YEN 92.60 74.80 RM 3.099 2.503 HK$ 7.755 6.264 BAHT 29.77 24.04 RUPIAH 9,678 7,817 RENMINBI 6.223 5.026 INDIAN RUPEE 54.41 43.95 A$ 0.978 0.790 NZ$ 1.210 0.977
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  • 894 1  -  Tosei Corporation to launch secondary listing here By ANDREA SOH [SINGAPORE] The Singapore Exchange’s (SGX) efforts to woo Japanese companies to list here may now be paying off. Japanese real estate firm Tosei Corporation is looking to launch a secondary listing here, amid what
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  • Page 1 Advertisements
    • 89 1 YOUNG INVESTORS' FORUM Why the lottery is not a fair bet PAGE 9 16 18 23 25 29 34 BizIT Cloud lifts air-travel sector to new highs PAGE 30 DINING OUT Cool, groovy Market Grill PAGE 23 BT WEBSITES For breaking news, go to businesstimes.com.sg. For personal finance stories, go
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    • 11 1 VIEWS FROM THE TOP Mixed reactions to Budget 2013 pages 10-11
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  • TOP STORIES
    • 859 2  -  Straits Trading lets offer lapse; says it will hold on to 44.5% stake By CAI HAOXIANG [SINGAPORE] Straits Trading Company (STC) has refused to be drawn into a takeover battle for WBL Corporation even as it signalled its intention to block
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    • 943 2  -  Robust economic data offset by huge govt spending cuts WALL STREET INSIGHT By ROB CURRAN US markets went nowhere fast last week as investors balanced robust economic data against sudden government spending cuts. This week, the market may continue its sideways motion at least
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    • 507 2 Iskandar beckons, but investors beware ISKANDAR Malaysia may hold out promise to Singapore firms seeking a reprieve from high costs, or to property investors hunting down a lucrative residential project, but the process of making an investment there appears tricky. FRONT PAGE Japanese IPOs may revive on SGX
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    • 814 2 Obama says many middle-class families will be affected NYT [WASHINGTON] Seventeen months after President Barack Obama signed doomsday budget legislation that was never intended to become law, the sweeping spending reductions in the measure have been imposed. Late on Friday night,
      NYT; PHOTO: BLOOMBERG  -  814 words
    • 415 4  -  SingTel L!feLabs Israel is a joint venture between the telco and NYSE-listed firm Amdocs By JOYCE HOOI [SINGAPORE] SingTel is jumping into the fray of Israel’s Silicon Valley, with an international development centre that it opened there yesterday. This new centre, SingTel L!feLabs
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    • 932 4  -  New PwC chief aims to develop staff holistically By LYNN KAN [SINGAPORE] Yeoh Oon Jin joined then Price Waterhouse after he graduated in 1983 and never left. Fast forward 30 years, Mr Yeoh is settling into his new role as executive chairman
      PHOTO: ARTHUR LEE  -  932 words
    • 513 4 Fears of gridlock hitting recovery may dominate talks AFP [FRANKFURT] Concerns that political gridlock in Italy could reignite the sovereign debt crisis and choke off tentative green shoots of recovery look set to dominate a European Central Bank (ECB) meeting this week,
      AFP  -  513 words
    • 315 4 Reuters [BEIJING] Growth in China’s increasingly important services sector expanded at its slowest pace in five months in February, reinforcing the view that the recovery in the world’s sec-ond-largest economy remains modest. China’s non-manufactur-ing purchasing managers’ index (PMI) stood at 54.5 according to a
      Reuters  -  315 words
  • Page 2 Advertisements
    • 18 2 The best pure-play private bank in Asia EFG Bank Asiamoney Private Banking Poll 2012 30 global locations www.efginternational.com
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    • 74 2 Capital preservation is key to any businessman, but staying in cash apart from the amount that you may need for liquidity is not a sustainable option. This is because current cash rates at well below 0.3 per cent per annum means that your purchasing power shrinks substantially after inflation. Where
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  • Page 3 Advertisements
    • 701 3 MAYORS OF THE WORLD, MAY WE With 3.3 billion people living in cities today —a number that will double by 2050 —the job of mayor has begun to resemble the burden of Atlas. City infrastructure, agencies, services, economics and the well-being of the citizenry all demand change. This kind of
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  • Page 4 Advertisements
    • 212 4 I want to redefine myself within the accounting arena It’s my choice. Like time learning never stops. At Kaplan Financial, part of Kaplan Learning Institute, we find ways for you to reinvent yourself in the accounting industry. Our goal is to create an environment where students can create and build
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    • 95 4 ALMATY Seoul Beijing Bangkok 1 Kuala Lumpur Hong Kong Ho Chi Minh Beijing Almaty 5 times a week Bangkok Almaty jjv 7 times a week Kuala Lumpur Almaty 3 times a week Ho Chi Minh Almaty 2 times a week Seoul Almaty Hong Kong Almaty 2 times a week 2
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  • COMPANY NEWS
    • 283 5 Mar 1 BANKS Agricultural Bank Of China Agricultural Bank Of China ...5.50 Bangkok Bank Public Co. Ltd ...5.50 Bank of China Limited 5.50 Bank of Communications 5.50 Bank of East Asia ...5.50 Bank of Communications ...5.50 Bank of Tokyo-Mitsubishi ...5.75 Banque Internationale a ...5.50 Bank of Taiwan
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    • 188 5 COMPANY MEETING PLACE DATE TIME GSH Corporation E GSH Centre 11 Changi North Way 05-Mar 2.30pm Datapulse Tech E Furama Riverfront Venus 1 Level 3 405 Havelock Road 08-Mar 2.00pm Macquarie Intl Infra A Fairmont Singapore Raffles City Convention Centre 80 Bras Basah Road 08-Mar 10.00am United Envirotech
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    • 536 5  -  The engineering services division sustained the largest fall in turnover By JOYCE HOOI HIT by losses from its discontinued operations in Batam, BH Global Marine crashed into the red for its fourth quarter ended Dec 31, 2012, posting a loss attributable to
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    • 329 5  -  Feb State Street ICI posts global reading of 94.8, up 8.7 points from Jan By CARINE LEE INVESTOR confidence is gaining momentum among institutional investors, with the latest State Street Investor Confidence Index (ICI) posting a global reading of 94.8 in February, up 8.7 points from
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    • 184 5  -  By JOYCE HOOI CHINA Kangda Food Company posted a 60 per cent plunge in net profit yesterday, from 12.2 million yuan (S$2.43 million) to 4.9 million yuan, for the year ended Dec 31, 2012. Revenue for the same period, however, inched up 10 per cent
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    • 1563 7  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Limited DIRECTORS got back into the market following the announcement of results with 36 trades worth $27.1 million based on filings on Singapore Exchange (SGX) from Feb 25 to March 1. The figures
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  • Page 5 Advertisements
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  • SINGAPORE MARKETS
    • 644 6  - Central banks vs politicians who will win? STOCKS R SIVANITHY Senior Correspondent IN A global investment strategy report last week, Bank of America-Merrill Lynch (BoAML) said central bankers are becoming more influential than politicians in moving markets and this bodes well for a continued bull run. This is because low
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    • 553 6 CURRENCIES Re uters [NEW YORK] The wide-ranging US spending cuts that automatically kicked in last Friday and threatened to dampen economic growth did little to diminish a US dollar rally which was aided by upbeat economic data. The euro sank to a 21/2-month
      Reuters  -  553 words
    • 1514 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price AIMS AMP Capital Ind REIT 2.50 2.50 2 8.85 17.91 1.64 1.59 Amtek Engineering Ltd 3.25 3.00 4 0.05 8.46 0.61 0.54 ARA Asset Management 2.57 1.57
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    • 4 6 WEEKLY
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    • 73 6 Mar 1 VALUE CLOSE BT OB/OS -471.00 -347.00 BT CADI -*****.00 -284.00 BT 10-day MA -*****.00 -47.00 FTSE ST Mid Cap 814.05 -0.77 FTSE ST Small Cap 566.13 -7.96 FTSE ST All Share 806.13 -0.81 FTSE ST China Top 224.79 -1.29 FTSE ST China 255.46 -2.61 FTSE
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    • 51 6 VOLUME Equation 2,131,119,000 CarrierNet 1,772,834,000 YHM 1,584,082,000 Cedar 1,570,548,000 IPCO Intl 1,346,281,000 Contel 1,236,005,000 Annica 1,107,617,000 Magnus 1,079,958,000 Compact 847,776,000 Oceanus 801,579,000 VALUE($) GLP 2,042,375,714 SingTel 413,629,191 UOB 276,777,662 Rowsley 259,284,055 DBS Grp 256,806,636 Genting SP 254,724,770 Keppel Corp 232,579,476 Golden Agri 212,611,770 Wilmar 202,261,018 SembMar 191,830,794
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    • 636 6 COMMODITIES AFP [LONDON] Commodity prices mostly slid this week on worsening economic sentiment caused by political deadlock in indebted eurozone nation Italy and as the United States braces for US$85 billion in budget cuts. Italian leftist Pier Luigi Bersani last Friday held out the prospect
      AFP  -  636 words
    • 111 6 BY CENTS CLOSE UP JMH 6551 248.8 3.2 DBXT AUD Bonds 5AU$ ***** 139.2 0.6 DBXT MSUSA 10US$ 3678 133.7 3.0 DBXT MSJAP 10US$ 3966 112.7 2.3 DBXT iBoxxSing 5SG$ ***** 106.0 0.8 DBXT MSINDO 10us$ 1695 81.7 4.1 JSH 3859 61.9 1.3 Haw Par Corp 744 31.0 4.3
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    • 127 6 BY CENTS CLOSE DOWN DBXT Nifty 10US$ ***** -383.7 -2.8 UOB 5.05%NCPS 100 ***** -230.0 -2.2 DBXT DBLCI-OY 5US$ 3750 -186.9 -3.9 DBXT E50 10US$ 3963 -186.9 -3.7 DBXT MSKorea 10US$ 6104 -95.3 -1.2 GLD 10US$ ***** -94.1 -0.5 DairyFarm 1296 -58.2 -3.5 Lyxor Europe 10 US$ 1295 -52.0
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    • 5 6 WEEKLY
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  • Page 7 Advertisements
    • 1215 7 SUBSCRIBE NOW! IPO closes on TUESDAY, 5 MAR 2013 at 12.00 NOON MAPLETREE GREATER CHINA COMMERCIAL TRUST (a real estate investment trust constituted on 14 February 2013 under the laws of the Republic of Singapore) Managed by Mapletree Greater China Commercial Trust Management Ltd mapleiree greater china commercial Gateway Plaza,
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  • SINGAPORE NEWS
    • 513 8  -  Since programme was implemented in 2005, service sector funding has almost trebled Reports by AMANDA TAN OUTCOME Management (OM), a client-based measurement tool created through the observation of proxy indicators, appears to have contributed to improvements in the social service sector. Since the implementation
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    • 480 8 Welfare organisation is now better able to communicate its goals to its clients OUTCOME Management (OM) has helped improve the processes of Care Corner Family Service Centre, a Voluntary Welfare Organisation (VWO). The centre cited the Crossroads Youth Programme (CYP) as an example
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    • 1744 8 Payment Ex Rec Pay Ann (cts) date date date date AEI Corporation an 1.000 02-May 06-May 15-May 20-Feb AEM Hldgs ak 0.350 05-Jun 07-Jun 21-Jun 25-Feb AIMS AMP Capital Ind REIT ag 2.580 07-Feb 13-Feb 19-Mar 31-Jan AP Oil aw 0.500 02-Apr 04-Apr 25-Apr 20-Feb Ara Asset Mgmt
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  • Page 8 Advertisements
    • 328 8 CATS CLASSIFIED PROPERTY SEMINAR 2013 OPPORTUNITIES IN PROPERTY INVESTMENTS? With the introduction of new government policies, such as the additional buyer's stamp duty and sellers’ stamp duties, it's vital that you do your homework first! Get insights and a glimpse of emerging trends from experts in the real estate industry.
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 1896 9  -  Unlike investing, buying a lottery ticket will never yield favourable returns in the long run, reports CAI HAOXIANG A TAXI driver once told me about a female passenger in her 30s who wanted a ride from Resorts World Sentosa to Braddell, and
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    • 1191 9  -  Building a cocktail bar took 18 months of research and some industry help, as LEE MEIXIAN finds out STARTING YOUNG LEE MEIXIAN An EX-STEWARDESS walks into a bar Turns out she’s 28-year-old Gan Guo Yi and the boss of the place. Ms
      PHOTO: ARTHUR LEE  -  1,191 words
  • Page 9 Advertisements
    • 157 9 Get started now Be a young investor DO you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to
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  • VIEWS FROM THE TOP
    • 4398 10 THIS WEEKS’ TOPIC How will Budget 2013 impact your industry or company? Does it address the most important issues facing Singapore and its people? Ho Meng Kit CEO Singapore Business Federation THE business community has asked for costs relief for Budget 2013. They got some. They asked for
      PHOTO: YEN MENG JIIN  -  4,398 words

  • Page 11 Advertisements
    • 99 11 For the complete list of views from CEOs, go to http://businesstimes.com.sg I m m SJ M T 1 y i Si LABEL READS'CRITICAL. OUR PEOPLE READ HOPE'. At FedEx we know that every package we handle is more than just a package. Whether it is a vaccine that will save
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  • MALAYSIA
    • 566 12  -  It also commends financial system but flags risks in govt’s fiscal position By S JAYASANKARAN in Kuala Lumpur THE International Monetary Fund’s (IMF) latest annual review of Malaysia gave it high marks for overall macroeconomic management although it pointed out risks in
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    • 576 12 [PETALING JAYA] Hong Leong Capital Bhd (HLCap) said the trading of its shares would be suspended within 30 market days due to its failure to meet its public shareholding spread. This has come about after the stock’s public shareholding spread reduced to 9.66 per
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    • 592 12 AP [KUALA LUMPUR] Gunmen ambushed and killed five Malaysian policemen as fears mounted that armed intruders from the southern Philippines had slipped into at least three coastal districts on Borneo island, officials said yesterday. Two of the attackers were also fatally shot on
      AP  -  592 words
    • 1479 12 VOL Mar 1 RM +/-(‘000) Abric Bhd ('000) Advance Synerg 0.13 -0.01 68 Adventa Bhd 0.28 0.02 143 Ae Multi Hldgs 0.23 0.01 14 Affin Holdings 3.28 -0.02 116 Ahmad Zaki Res 0.71 -0.01 62 Airasia Bhd 2.95 0.04 ***** Alliance Finan 4.27 -0.04 963 Aluminium Co 0.67
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  • Page 12 Advertisements
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  • GREATER CHINA/INDIA
    • 618 13 He has warned that corruption threatens the party’s very survival Reuters [BEIJING] China’s ruling Communist Party will only be able to mark its 100th birthday in eight years time if officials can learn from the selfless sages of the past, party chief Xi
      Reuters; PHOTO: REUTERS  -  618 words
    • 459 13 Proposal on double taxation clumsily worded: minister Reuters [MUMBAI] Indian Finance Minister P Chidambaram sought to ease concerns it was targeting double taxation treaties on Friday, saying a proposal that sparked alarm among foreign investors was clumsily worded. Mr Chidambaram’s reassurances mark the second
      Reuters  -  459 words
    • 196 13 Xinhua [BEIJING] Former World Bank chief economist Justin Yifu Lin reaffirmed his assertion that China can maintain an 8 per cent annual growth for another 20 years. Mr Lin said he was not talking big, as China’s economy has great potentials
      Xinhua  -  196 words
  • Page 13 Advertisements
    • 115 13 Confidence to build That’s what developers and their investors and lenders can achieve when they’re smart about managing risk. And smart managers work with CME Group, the world’s leading derivatives marketplace. Businesses and financial institutions around the world partner with us to help them manage every kind of risk. Interest
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  • ECONOMY WATCH
    • 644 14 Inflation expected to be low this month as rise in prices of food is slowing Bloomberg [BEIJING] Pressure on China to tighten monetary policy and macroeconomic controls is easing as inflation will be “relatively low” this month due to slowing food-price gains,
      Bloomberg; PHOTO:REUTERS  -  644 words
    • 660 14 Nominee for BOJ chief is also a good communicator Reuters [TOKYO] An avid reader of detective novels, Haruhiko Kuroda may now get a chance to try to unravel the mystery of engineering Japanese economic growth if the Asian Development Bank chief is
      Reuters; PHOTO: REUTERS  -  660 words
    • 863 14 40 richest families account for 76% of GDP in 2011 AFP [MANILA] Optimism is soaring that the Philippines is finally becoming an Asian tiger economy, but critics caution a tiny elite that has long dominated is amassing most of the new wealth while the
      AFP  -  863 words
    • 312 14 Bloom berg [BANGKOK] Thailand’s inflation slowed for a second straight month in February, helped by state subsidies and a stronger baht, and as food prices fell. Consumer prices rose 3.23 per cent from a year earlier, the Ministry of Commerce said in
      Bloomberg  -  312 words
    • 214 14 Reuters [BRUSSELS] The European Union began talks with Morocco on a free-trade deal on Friday, the EU’s first in a planned series aimed at deepening trade ties with North African nations two years after a wave of Arab uprisings. “Just announced the launch of
      Reuters  -  214 words
  • Page 14 Advertisements
    • 106 14 LU -I < to cc 0 LL w mi ii u'i'l iflliTi 1 1111 Rare Mohamed Sultan Stunner! Best Value!! Fully Developed Commercial /Residential Zoning Single Conservation Terrace Building t Comprises 6 tasteful units I Fully Tenanted with each with bathrooms/ good returns kitchenette/wood floors t Immediate Revenue! Ground floor
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  • WORLD
    • 534 15 Russell takes unprecedented step as recession slashes its economy by 20% Bloomberg [NEW YORK] Russell Investments, which advises funds with US$2.4 trillion in assets, will reclassify Greece to an emerging from a developed market, an unprecedented step taken after a recession reduced the nation’s
      Bloomberg  -  534 words
    • 809 15 Malls are full of imported luxuries, fast-food franchises AFP [KARACHI] American fast food and Western fashion outlets are taking Pakistan’s growing middle class by storm, defying stereotypes about a conservative Muslim country plagued by Al-Qaeda and Talebanlinked violence. The rupee may have nose-dived, a
      AFP; PHOTO: AFP  -  809 words
    • 995 16 Ruling coalition dealt a blow as public debt is set to rise for 3 years Reuters [LONDON] Nearly three years after Britain’s Con-servative-led government vowed to restore the country to financial health with a round of deep spending cuts, the economy looks
      Reuters; PHOTOS: AFP  -  995 words
    • 694 16 [ZURICH] Swiss citizens voted yesterday to impose some of the world’s strictest controls on executive pay, forcing public companies to give shareholders a binding vote on compensation, initial result projections showed. Claude Longchamp of pollsters Gfs Bern told Swiss state television that
      PHOTO: REUTERS  -  694 words
    • 757 16 Editorial staff is at risk; int’l arm may be sharply reduced Reuters [SAN FRANCISCO] The exit of Groupon co-founder and CEO Andrew Mason fired after another disappointing set of quarterly results slashed its market value by a quarter may usher in
      Reuters  -  757 words
    • 1352 17 Several advisers who resisted said they were told to change or be sacked NYT [NEW YORK] Everything is scripted for the brokers in an elite group at JPMorgan Chase: the sales pitches; the personal voice mail message; even the preferred desk candy, Glitterati
      NYT; PHOTO: REUTERS  -  1,352 words
    • 443 17 Record-low rates at home, flush money supply support increased local borrowing Bloomberg [MANILA] The Philippines may shun the global bond market this year as record-low interest rates at home and flush money supply supports increased domestic borrowing, Treasurer Rosalia de Leon said.
      Bloomberg  -  443 words
    • 575 18 Nervousness in EU stems from uncertainty of where budget cuts will be made AFP [WASHINGTON] Massive US budget cuts will not just hurt at home. Their impact could spill over US borders and hit the European Union, America’s biggest trade partner.
      AFP  -  575 words
    • 783 18 Reuters [WASHINGTON] The US Congress is getting an earful about the big spending cuts beginning to hit government services from worried and irate constituents, including one senator’s own spouse. Democratic Senator Thomas Carper of Delaware said his wife, “my most important constituent”, asked
      Reuters; PHOTO: AFP  -  783 words
    • 759 18 US deficit goal is in sight but at a price Economic recovery and job creations may be hampered NYT [WASHINGTON] The latest budget impasse ushered in a new round of austerity on Saturday, with the nation facing reduced federal services, cancelled contracts, job furloughs and layoffs. But lost in the
      NYT  -  759 words
    • 996 18  -  By JOHN HARWOOD NYT [WASHINGTON] Let’s play truth or consequences with the budget sequestration that took effect on Friday. That can be difficult through the fog of political war that has hung over this town. But a step back illuminates roots deeper than the
      NYT  -  996 words
    • 716 19 But reference to legislation fails to impress some key Republicans Reuters [WASHINGTON] The White House on Friday said it would work for approval of politically contentious legislation that would ease the way for new trade deals, as it tries to wrap up talks
      Reuters  -  716 words
    • 340 19 Reuters [DUBAI] A Middle Eastern consortium is poised to bid £1.5 billion (S$2.8 billion) for full ownership of Britain’s Arsenal Football Club in the biggest-ever takeover of a soccer team, The Telegraph newspaper reported. The bid is likely to be mounted in the
      Reuters; PHOTO: REUTERS  -  340 words
    • 445 19 EU trade chief says pact would be an ideal way to boost sagging economies AFP [WASHINGTON] Europe’s top trade official said on Saturday that a proposed trans-Atlantic trade pact would be the best way to boost the sagging economies of both the United
      AFP; PHOTO: REUTERS  -  445 words
    • 211 19 AFP [TOKYO] Japan and the European Union are to hold a summit this month to formally launch negotiations on a huge free trade deal, a report said yesterday. EU president Herman Van Rompuy and European Commission head Jose Manuel Barroso will visit Tokyo
      AFP  -  211 words
    • 279 19 AFP [NEW YORK] A US appeals court in New York has told Argentina to spell out its offer to settle a suit by holders of defaulted bonds that Buenos Aires brands “vultures”, court documents showed last Friday. But Argentine President
      AFP  -  279 words
    • 646 20 Group doesn’t see findings having any material impact on financial statements NYT [NEW YORK] Las Vegas Sands Corp, an international gambling empire controlled by the billionaire Sheldon Adelson, has informed the US Securities and Exchange Commission (SEC) that it likely violated a federal
      NYT  -  646 words
    • 611 20 AFP [SAO PAULO] Brazil’s rising economic prosperity is transforming the lives of millions of domestic workers, who are abandoning jobs cooking and cleaning in homes to find other employment. In this huge South American country, 6.1 million women are domestic helpers, representing about
      AFP  -  611 words
    • 699 20 Executives who hold back are missing an opportunity: Buffett Bloomberg [NEW YORK] Warren Buffett said that executives who held back investments because of doubts about the economy are missing an opportunity as he plans to accelerate capital spending at his Berkshire Hathaway
      Bloomberg; PHOTO: AFP  -  699 words
    • 844 20 NYT [WASHINGTON] The State Department issued a revised environmental impact statement for the 1,700-mile Keystone XL pipeline last week that makes no recommendation about whether the project should be built but presents no conclusive environmental reason it should not be. The 2,000-page document
      NYT; PHOTO: REUTERS  -  844 words
    • 776 21 Next govt has to deal with huge debt, joblessness and weak economy Re uters [ROME] Italy’s unemployment rate has hit a 21-year high and its economy is now smaller than it was in 2001, data showed last Friday, underscoring the challenges the country faces as it
      Reuters; PHOTO: BLOOMBERG  -  776 words
    • 452 21 AFP [BERLIN] Beppe Grillo, whose anti-establishment party unexpectedly captured a quarter of the vote in Italy’s inconclusive elections, wants to renegotiate his crisis-hit country’s debt, according to a German report on Saturday. “We are being crushed not by the euro but by our d
      AFP  -  452 words
    • 160 21 AFP [MILAN] Fitch on Friday warned that political deadlock in Italy following elections last week in which no party won an overall majority added downward pressure on its sovereign credit rating. “It has the potential to disrupt policy-making and reduce policy continuity, and
      AFP  -  160 words
    • 525 21 NYT [LONDON] In a first attempt to retrieve some of its losses, the Tuscan lender Monte dei Paschi di Siena sued Deutsche Bank and Nomura on Friday over certain financial transactions that went bad. The Italian bank filed two separate lawsuits at
      NYT  -  525 words
    • 171 21 Bloomberg [TOKYO] Japanese exporters expect to be profitable as a weaker currency helps boost the yen value of their overseas earnings, according to a survey of companies released by the Cabinet Office. Shipments will yield profit if the exchange rate averages 83.9 yen
      Bloomberg  -  171 words
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  • Page 17 Advertisements
    • 1660 17 ELEKTROMOTIVE GROUP LIMITED (Incorporated in Singapore) (Company Registration Number *****7135Z) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (“EGM”) of Elektromotive Group Limited (the “Company”) will be held at 108 Robinson Road, Level 11, Finexis Building, Singapore *****0, on Tuesday 26 March 2013 at
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  • Page 19 Advertisements
    • 967 19 B8AR9 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 PURSUANT TO SECTION 290(2)(b) AND IN THE MATTER OF FANBO ENTERPRISES (PTE) LTD. (Company No: *****0026H) (In Members’ Voluntary Liquidation) By way of Shareholders’ Written Resolution dated 28th February 2013 the Special Resolutions set out below were duly passed:
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    • 110 21 U always! like us on D facebook/ufmlOOS follow us on twitter@ufml003 www.uf m lOOS.sg UFM 100.5 SS CJ5 fff o U SHINE Take a step back. Reflect on life. As we get caught up in the hustle and bustle of daily life, let’s pause to be thankful for all that
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  • AVIATION/SHIPPING
    • 768 22 Airline increases workforce reduction to 15% as it tries to cut losses AFP D U BAI B a h r a i n s loss-making flag carrier Gulf Air, struggling against competition from other regional carriers, has embarked on a sweeping restructuring
      AFP  -  768 words
    • 236 22 SGX '000 Mar 1 S$ +/-Vol CH Offshore '000 Chuan Hup Hldg 0.29 0.01 115 Cosco Corp 0.92 -0.01 5144 Vol First Ship Lea 0.13 unch 1213 Freight Links 0.08 unch ***** Grand Banks 0.37 -0.03 22 Jaya Hold Ltd 0.71 -0.02 956 K1Ventures 0.18 unch 7151 Keppel
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    • 643 22 Company was hit hard by impairment and restructuring charges at Iberia AFP [LONDON] International Airlines Group (IAG), parent of British Airways, plunged into an annual net loss of 943 million euros (S$1.54 billion) in 2012 on severe financial strains at its Spanish arm
      AFP; PHOTO: BLOOMBERG  -  643 words
    • 232 22 AFP [LONDON] An oil leak at a North Sea platform caused it to be partially evacuated on Saturday, its Middle East operator said, the second such incident at the installation in less than two months. The Alpha Cormorant platform and
      AFP  -  232 words
    • 471 22 Reuters [SAO PAULO] Brazilian seaborne trade fell 1.2 per cent in the fourth quarter of 2012 compared with a year earlier, much worse than had been expected as Brazil’s economy fails to pick up steam, Danish shipping company Maersk Line said last
      Reuters  -  471 words
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  • Page 22 Miscellaneous
    • 329 22 CRYPTIC CROSSWORD Across 1 Fellow connected with the Spanish church (6) 5 What a nark may do is endless? (3,3) 10 Was up on bronco’s back in Wild West Show (5) 11 Left most of toast and cheese (4,5) 12 Dance? Husband’s terribly wooden (7) 13 Hat put back on
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  • DINING OUT
    • 871 23  -  By Jaime Ee NEW RESTAURANT Market Grill 208 Telok Ayer Street Tel: 6221-3323 Open for lunch and dinner Mon to Sat: 11.30am to 2.30pm, 5pm to 10pm. Closed on Sundays NO reservations? No. Please. Come on. The only time anyone wants to hear those words is on
      871 words
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    • 299 23 0 M aauamar me m FLAVOURS OF SIAM 1 TO 31 MARCH 2013 Savour your favourite Thai dishes at AquaMarine as we bring Guest Chef Aek Charttrakul and his team from Bangkok’s Suan Dusit International Culinary School, only for the month of March. Be transported to the Land of Smiles
      299 words

  • SINGAPORE STOCKS
    • 3390 24 Week ended: Mar 1 52-wks Last Vol Week Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Company Last Sale Vol ('000) 164 106 AIMSAMPIReit --AAT Div GrYld C'vr Net P/E M Cap Smil 15 11.4 STelecom 193
      3,390 words
    • 276 25 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Low Company Last 4.6 1.3 t Advanced System 2.1 +0.1 *****0 2.4 2 2 2.1 31.3 Vol ('000) Week Last Quote Div Gr Yld
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    • 117 25 Stock name Close Change CapMallsAsia 2.070 -0.010 CapitaLand 3.860 -0.050 CapitaMall 2.120 -0.030 CityDev 11.130 -0.040 ComfortDelGro 1.940 +0.020 DBS Grp 15.150 +0.040 F&N 9.440 GLP 2.550 +0.010 Genting SP 1.555 -0.020 Golden Agri 0.630 -0.020 Stock name Close Change HK Land 7.610 -0.120 IHH Healthcare
      117 words
    • 2090 25 Transaction date: Mar 1 HONG KONG Vol HK$ +/-'000 Aeon Credit Vol Aeon Stores 19.00 -0.20 30 Angang Steel 5.22 unch ***** Anhui Conch Anhuiexpresswa 4.36 -0.08 1605 Asia Satellite 28.05 -0.95 1 Asm Pacific -0.20 Bank Of E Asia 31.70 unch 8693 Beida Jade Bir 5.22 Beijing
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    • 272 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 50 25.5 AVJennings A39 unch 31 40 39 37 40 3.6 9 3.1 101.6 46.5 30 Genting HK US$ US46 +1 ***** 46.5 43.5 45.5 46 3028.9
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    • 186 25 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 10 3 0 0 0 3 10 3 Manufacturing 52 127 20 17 10 6 69 137 26 Commerce 26 36 16 5 8 5 31 44 21 Tpt/Stor/Comms 10 30 6
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    • 1051 25 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 126 107.1 ABF SG Bond ETF 118.9 +0.9 176 118.9 117.9 117.8 118.9 542.8 135.9 120.4 CIMB APAC Div 100S$D 135.8 134.1 135 111.7 95.8 CIMB
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    • 123 25 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 635,662 635,662 431,324 431,324 Manufacturing 7,205,878 9,831,981 17,037,859 1,685,056 230,958 1,916,014 Commerce 3,325,261 1,892,736 5,217,997 633,123 199,443 832,566 Tpt/Stor/Comms 724,982 80,775 805,757 927,283 28,567 955,850 Finance 379,161 6,822 385,983 879,830 3,144 882,974 Construction 2,440,609 1,588,737
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    • 24 25 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THEBUSINESSTIMES
      24 words

  • FINANCE & COMMODITIES
    • 626 26 Mar 1 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.71 *****.63 *****.71 Mar13 *****.00 *****.00 *****.00 *****.00 *****4 *****7 Jun13 *****.00 *****.00 *****.00 *****.00 3398 ***** MSCI TAIWAN INDEX FUTURES SPOT 284.76 286.89 284.76 Mar13 285.90 286.30 284.90 286.30 3967 *****3 Apr13 286.40
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    • 373 26 In local curr In S$ In US$ dy yr dy yr dy yr Mar 1 Index Change Change Change Change Change Change World Preliminary 999.1 -0.1 6.5 -0.3 6.0 -0.5 4.4 EAFE Preliminary 833.2 0.1 7.6 -0.6 4.7 -0.8 3.1 Europe Preliminary 1210.7 -0.1 5.5
      373 words
    • 470 26 Mar 1 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.053 6.361 0.782 7.928 55.618 98.928 0.946 11.085 3.168 1.237 100.370 41.585 1.266 9.228 0.957 30.274 30.427 0.674 1.022 Canada 0.949 6.039
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    • 69 26 Mar 1 (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$) 3 mths 0.***** 3 mths 6 mths 6 mths 0.***** 9 mths 12 mths 12 mths SWAP
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    • 135 26 Mar 1 GOLD(US$/oz) Feb 28 Mar 01 Hong Kong 1607.00 1590.00 Mar 01 Feb 28 London 1578.10 1582.56 1578.92 1583.33 Source: Thomson Reuters CAST BAR Mar 01 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 141 63 5gm 402 315 10gm 717 629
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    • 86 26 Mar 1 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****F 30-May-13 0.25 6-Month BS*****S 22-Aug-13 0.26 1-Year BY*****X 01-Nov-13 0.26 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-13 100.09 5-Year N*****0Z 2.375 01-Apr-17 108.13
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    • 57 26 Mar 1 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Mar 13 2351.0 2350.0 2372.0 2340.0 88 2786 Apr 13 2377.0 2360.0 2393.0 2358.0 1007 ***** May 13 2388.0 2368.0 2405.0 2367.0 ***** ***** Jun 13 2396.0 2377.0
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    • 154 26 Mar 1 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2651 1.2660 1.0220 1.0225 Canadian dollar 1.2011 1.2018 0.9707 0.9703 Euro 1.6186 1.6189 1.3075 1.3076 NZ dollar 1.0229 1.0235 0.8263 0.8267 Sterling pound 1.8773 1.8781 1.5165 1.5169
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    • 108 26 Mar 1 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Mar 13 1464.50 1474.25 1478.50 1453.75 May 13 1443.50 1452.25 1457.50 1433.00 Jul 13 1427.25 1435.25 1440.75 1417.25 Aug 13 1388.00 1391.75 1396.25 1377.00 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Mar 13
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    • 80 26 Mar 1 COCOA (£/tonne) Close Prev High/Low Mar 13 1381 1409 1415/1379 May 13 1406 1429 1436/1404 Jul 13 1422 1446 1450/1420 Sep 13 1436 1460 1465/1433 COFFEE(US$/tonne) Close Prev High/Low Mar 13 2072 2058 2072/2053 May 13 2115 2108 2117/2096 Jul 13 2123 2120 2124/2105 Sep 13 2131
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    • 1010 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 4 1 146 567 5.63 14 Conv Asiatravel.com HoldingsW*****7 3 -1 3 1 25 16 Asiatravel.com HoldingsW*****5 3.3 -0.7 3 1 27 40 BakerTech W*****5 Prem Best World
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    • 70 26 CRUDE OIL PRODUCTS Feb 28 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 112.31 -0.15 WTI (Near Mth) 91.80 -1.05 Dubai (1-Mth F) 107.05 -1.45 Tapis blend 118.37 -1.42 Minas 113.87 -1.42 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 108.67 -2.33 Jet Kerosene 127.88 -1.88 US$/barrel OpecOil Basket
      70 words
    • 22 26 Mar 1 S$ Bid Offer 1-month 1.2379 1.2381 2-months 1.2379 1.2381 3-months 1.2379 1.2381 6-months 1.2377 1.2383 Source: OCBC
      22 words
    • 65 26 Mar 1 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1932.00 1961.75 3 months 1975.00 2005.00 Copper, Grade A(US$/tonne) Cash 7673.00 7784.00 3 months 7703.00 7815.00 Lead(US$/tonne) Cash 2227.50 2271.00 3 months 2244.00 2281.50 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.50 3 months
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    • 121 26 As at 9am Mar 01 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.294 1.233 Can dollar 1.229 1.171 Euro 1.654 1.576 Sterling pound 1.912 1.839 NZ dollar 1.054 0.995 US dollar 1.262 1.202 Local dollars to 100 units of foreign
      121 words
    • 154 26 Mar 1 $S Offer Bid 0vernight 0.01 par 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.08 US$ 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 12
      154 words

  • 2763 27 BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE n GLOBAL SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE CONVENTIONAL, BREAKBULK PROJECT Destination STXPO TBN Camden/New
    2,763 words
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  • Page 28 Advertisements
    • 129 28 Importers looking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 M the business times Shipping Times FREIGHT FORWARDER urgently needed by shippers TO ADVERTISE, CALL JOE WONG AT 9620 1327 a < Celebrate Your Project Completion Come publicise
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    • 1 28 E
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  • Page 29 Advertisements
    • 43 29 HOT TIPS FOR BETTER control FINANCE Managing your personal finance now is critical to your retirement later. Enjoy the healthy dose ot tips and advice to keep your finances in a healthy state. BTINVEST.COM.SG PROPERTY I MARKETS I WEALTH I INSURANCE I PE
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  • BizIT THE BUSINESS OF INFOCOMM TECHNOLOGY
    • 694 30  -  Studies by SITA show the industry is investing heavily in IT to streamline operations and thus boost efficiency and margins, reportsAMIT ROY CHOUDHURY reportsAMIT reportsAMIT ROY CHOUDHURY LIKE most other verticals, the air-travel industry is using mobility, cloud computing, business intelligence (BI) and
      694 words
    • 842 30  -  Move will help SME customers save time, costs amid growing competition <yousay> By DINOY ANTONY The author is principal consultant of banking, financial services and insurance for Mahindra Satyam TRADE finance, once a pa-per-laden backroom function, is finally making the big leap into cloud
      842 words
    • 707 30 Jurors miscalculated nearly half the US$1 b in damages AP [SAN FRANCISCO] The two biggest and bitterest rivals in the smartphone market will have to endure another bruising trial after a federal judge ruled that jurors miscalculated nearly half the US$1
      AP; PHOTO: REUTERS  -  707 words
    • 445 30 Bloomberg [BEIJING] Corning Inc, the maker of glass for Apple Inc iPhones, said it will probably take at least three years before companies start making flexible displays using its new Willow material. Companies are yet to come up with products that
      Bloomberg  -  445 words
    • 1033 29  -  China was the main driver of the expansion throughout 2012, reportsAMIT AMIT ROY CHOUDHURY THE Asia-Pacific server market grew 3.4 per cent in volume and 6 per cent in revenue terms in the fourth quarter of 2012. During the same period, the global market
      1,033 words
    • 328 29 Reuters [SAN FRANCISCO] Yahoo Inc is shutting down seven products, including its mobile app for Blackberry smartphones, as new chief executive Marissa Mayer takes a page from Google Inc’s play book by eliminating unsuccessful products en-masse. The product shutdowns, which Yahoo announced on its
      Reuters  -  328 words