The Business Times, 1 May 2013

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Total Pages: 43
1 44 The Business Times
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  • Title Section
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    19 1 THE BUSINESS TIMES www. usinesstimes.com.sg WEDNESDAY, MAY 1, 2013 S$1.00| MICA (P) 074/08/2012 sch A SINGAPORE PRESS HOLDINGS PUBLICATION
    19 words
  • Article, Illustration
    Lock icon Businesses feel the pain of rising labour costs
    911 1  -  Higher wages and rentals squeeze profit margins and cast a shadow over growth By Teh Shi Ning tshining@sph.com.sg Singapore INGAPORE’S unit labour costs rose 4.1 per cent over 2012 to hit a 10-quarter high in Q4, a symptom of ongoing economic restructuring.
    Source: MAS Macroeconomic Review, April 2013; PHOTO: KUA CHEE SIONG/THE STRAITS TIMES  -  911 words
  • Article, Illustration
    Lock icon After a long exile, IMF says it’s back in business in Asia
    669 1  -  By Vikram Khanna vikram@sph.com.sg Singapore AFTER a prolonged spell of being shunned and relegated to the sidelines in Asia, the International Monetary Fund (IMF) is a player again. Sixteen years on from the Asian financial crisis of 1997/98,
    PHOTO: YEN MENG JIIN  -  669 words
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      95 1 the COMPANIES SMRT sinks into the red in Q4 10 TRANSPORT HUB Ensuring justice for seafarers 28 EXEC MONEY Risk appetite at inflection point: Coutts 44 Si 5^ L v www.corum.ch CORUM LA CHAUX-DE-FONDS SUISSE GOLDEN BRIDGE AUTOMATIC CORTINA WATCH ESPACE Millenia Walk Tel: 6339 1728 CORTINA WATCH Ion Tel:
      95 words
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      31 1 Looking for a home for your business? Find out what shophouses in the city fringe and suburbs have to offer. Don’t miss this issue, which comes with The Business Times tomorrow
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  • TOP STORIES
    • Article, Illustration
      Lock icon S’pore making shift to slower growth phase
      678 2  -  Tough road ahead as economy restructures but country will emerge stronger: PM Lee By Lee U-Wen leeuwen@sph.com.sg Singapore THE Singapore economy has been restructured successfully in the past, and while the transitions were difficult, the country emerged stronger and the standard of living
      FILE PHOTO  -  678 words
    • MARKETS
      • Article
        Lock icon STOCKS
        58 2 GSTI 3,368.18 (+6.26) HSTI FUTURES 3,348.00 (-14.00) GSIMSCI 382.61 (+1.25) HSIMSCI FUTURES 380.20 (-1.10) STOCKS Tuesday Change KL COMP 1,717.65 +9.68 NIKKEI 225 13,860.86 -23.27 HANG SENG 22,737.01 +156.24 SET 1,597.86 +12.93 JAKARTA 5,034.07 +34.32 MANILA 7,070.99 +42.64 KOSPI 1,963.95 +23.25 SHENZHEN B Closed MUMBAI IND 19,504.18 +116.68 12noon
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.260 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.51 INDIA 14.45 Source: Bloomberg
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      • Article
        Lock icon FOREX
        48 2 US$ S$ US$ (S$ per US$) 1.234 (US$/S$ per 1.550 1.911 EURO(US$/S$/€ 1.308 1.614 Foreign currency per US$ S$ YEN 97.80 79.30 RM 3.036 2.461 HK$ 7.761 6.292 BAHT 29.36 23.80 RUPIAH 9,723 7,882 RENMINBI 6.165 4.998 INDIAN RUPEE 53.95 43.74 A$ 0.966 0.783 NZ$ 1.169 0.948
        48 words
    • Article, Illustration
      Lock icon S’pore jobless rate edges up in Q1: MOM
      738 3  -  Preliminary estimates also show broad-based slowdown in employment growth amid continued weakness, foreign worker tightening measures By Lee U-Wen leeuwen@sph.com.sg Singapore THE unemployment rate in Singapore inched upwards in the first three months of this year while the pace of job creation
      Source: MoM  -  738 words
    • Article
      Lock icon Drag in S’pore’s productivity growth seen
      406 4  -  But it can be offset by more investment in physical capital and a higher quality workforce, says MAS By Teh Shi Ning tshining@sph.com.sg Singapore AS sectors with lower productivity hire a larger share of Singapore’s workers, the economy’s productivity growth will be weighed down
      406 words
    • Article
      Lock icon Exchange rate better tool for S’pore: study
      400 4  -  By Anna Teo anna@sph.com.sg Singapore COMPARED with the interest rate, the exchange rate is the better instrument of monetary policy for small open economies such as Singapore, according to a recent study. The study by Insead professors Ilian Mihov and Ana Maria Santacreu
      400 words
    • Article
      Lock icon Japanese household spending at 9-year high
      645 5 March figures an indication that Abenomics is on the right track Reuters Tokyo HOUSEHOLD spending in Japan surged in March at the fastest pace in nine years in a sign that Prime Minister Shinzo Abe’s bold efforts to end two decades of stagnation are
      Reuters  -  645 words
    • Article
      Lock icon Manufacturing upbeat about next 6 months
      739 6  -  So is the services sector, but some harbour lingering concerns over the impact of domestic policies By Malminderjit Singh msingh@sph.com.sg Singapore MANUFACTURING and services companies here are mostly optimistic about their business prospects in the months to September 2013, though some in the services
      739 words
    • Article, Illustration
      Lock icon Consumer confidence at 5-month high, beats forecast
      644 6 LATEST US DATA Bloomberg Reuters Washington CONFIDENCE among US consumers climbed more than forecast in April to a five-month high as Americans’ outlook for the economy and their incomes improved. Also up home prices in February, picking up the pace from January’s gains
      Bloomberg; Reuters; PHOTO: BLOOMBERG  -  644 words
    • Article
      Lock icon ‘Landslide’ victory unlikely at Camerons
      761 7  -  Farmland and environment issues, Orang Asli and young voters hold the key in the Pahang hill station BATTLE FOR PUTRAJAYA By S Jayasankaran btworld@sph.com.sg Tanah Rata, Pahang CAMERON Highlands, a hill station in Pahang, produces 40 per cent of Malaysia’s temperate fruits and vegetables, and
      761 words
    • Article, Illustration
      Lock icon Veteran politicians join M’sian campaign trail
      690 7  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur “OLD politicians never die. They just lose their hot air”, or so the saying goes. Ahead of elections on Sunday, Malaysia’s veteran politicians are doing neither. Already in their 70s and 80s, a few have come out to
      PHOTO: NANYANG SIANG PAU  -  690 words
    • Article, Illustration
      Lock icon El Celler named best restaurant in the world
      1183 8  -  Restaurant Andre, at 38th place, is S’pore’s sole representative in The World’s 50 Best Restaurants list By Geoffrey Eu btnews@sph.com.sg Singapore THERE’S a new number one in the restaurant universe. Celebrated eatery El Celler de Can Roca has been named best restaurant
      PHOTO: AP  -  1,183 words
    • Article
      Lock icon S’pore ranks second in entrepreneurial activity survey
      606 9  -  By Benjamin Aw benaw@sph.com.sg Singapore WHEN it comes to entrepreneurship, Singapore stands firmly among the leaders. The Republic came in second, just behind the United States, in terms of entrepreneurial activity among 25 selected innovation-driven economies globally. This is according to the Global
      606 words
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      27 2 CONTENTS NEWS Top Stories 2-9 Companies 10-13 Singapore 14-16 Transport Hub 28-30 Crosswords 29 Shipping Times 31-33 Perspective 34-35 Stocks Stats 36-40 Executive Money 41-44 World 18-27
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      291 3 CITYSTATEGROUP presents An Evening of Operatic Music “The New York Times: I MUSICI achieve the most delicate nuances of shading, of balance, of phrasing Never does the rhythmic impulse falter, never is a note out of place.” Acknowledged as one of the best baroque chamber orchestras in the world, I
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      196 5 0*3 Internationalisation ofSWEs: Strategies and Opportunities Internationalisation of SMEs: Strategies and Opportunities Meet top movers and shakers from the business community for a once in a lifetime learning and networking experience! -f Keynote Speaker Mr Suhaimi Rafdi (Singapore) CEO, Cathay Organisation Holdings i Datuk Dr Maznah Hamid (Malaysia) Executive Chairman,
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      89 9 The SME Magazine coming to you with your copy of The Business Times tomorrow! IN THIS ISSUE: 0/=FE8" %4F& ?4@ 2 3E#/5F4#! "<=C<8E!/3 FG/E# 3E$$/#/8F !F#/8"FG! F4 "#4@ FG/E# $443 9D!E8/!! .#/<AE8" FG/ ;4D=3& G4@ < 9D33E8" /8F#/%#/8/D# 4%/#<F/3 3E$$/#/8F=: E8 < 5#4@3/3 $E/=3 F4 !D55//3 0<: G/=% :4D7 ,G/5A
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  • COMPANIES
    • Article
      Lock icon SMRT sinks into the red with $11.9m loss in Q4
      701 10  -  Final dividend slashed to one cent; repairs and maintenance costs surge 41.6% By Joyce Hooi joyceh@sph.com.sg Singapore SMRT Corporation’s multiple woes have pushed its fourth financial quarter into the red and led to a slashing of its final dividend. The
      701 words
    • Article
      Lock icon Tuan Sing posts 15% drop in Q1 net
      430 10  -  By Felda Chay feldac@sph.com.sg Singapore LOWER development property sales led Tuan Sing Holdings Ltd to report a 15 per cent fall in net profit for its first quarter. The group said yesterday that net profit for the three months ended March 31,
      430 words
    • Article
      Lock icon MIIF’s Q1 earnings slump, divestments in progress
      337 10  -  By Lee Meixian leemx@sph.com.sg Singapore MACQUARIE International Infrastructure Fund Ltd (MIIF) yesterday posted a net income on an adjusted basis of $5.1 million for its first quarter ended March 31, 2013, a slump from $21.3 million a year ago. The fund’s total revenue
      337 words
    • Article, Illustration
      Lock icon OCBC Q1 profit falls 16% as NIM slumps
      740 11  - OCBC Q1 profit falls 1 6% as NIM slumps Group’s non-performing loans ratio comes to 0.7% from 1% a year ago By Nisha Ramchandani nishar@sph.com.sg Singapore OCBC Bank’s net interest margin (NIM) shed 22 basis points year on year to 1.64 per cent in the first quarter ended March 31,
      Source: OCBC  -  740 words
    • Article
      Lock icon HPH Trust’s Q1 profit falls 15.5%
      363 11  -  By Joyce Hooi joyceh@sph.com.sg Singapore RISING staff costs and a hike in other operating expenses saw Hutchison Port Holdings Trust (HPH Trust) posting a 15.5 per cent drop in profit attributable to its unitholders at HK$380.3 million (S$60.46 million) for the first quarter ended
      363 words
    • Article, Illustration
      Lock icon Listed gold miners shrug off gold price dive
      496 12  -  LionGold, CNMC bank on robust demand for physical gold By Andrea Soh sandrea@sph.com.sg Singapore THEIR share prices may have dipped in the wake of the recent plunge in gold prices, but Singa-pore-listed gold miners say the gold rout will not affect them
      Source: Bloomberg  -  496 words
    • Article
      Lock icon Ho Bee Q1 profit more than trebles on disposal gains
      339 12  -  By Jasmine Ng jasng@sph.com.sg Singapore HO BEE earnings more than trebled in the first three months of this year as the property group received $47 million from the disposal of Chongbang Holdings. Profit from continuing operations quadrupled to $65 million,
      339 words
    • Article
      Lock icon Del Monte earnings up 2% in Q1
      230 12  -  By Ma Xiangyu xiangyu@sph.com.sg Singapore DEL MONTE Pacific posted a 2 per cent year-on-year rise in net profit to US$4.51 million for the first quarter. The January-March quarter saw turnover up 17 per cent at US$87.4 million. Del Monte attributed the increase in
      230 words
    • Article
      Lock icon Venture posts 21% fall in Q1 profit
      352 12  -  By Malminderjit Singh msingh@sph.com.sg Singapore SINGAPORE-based global technology company Venture Corporation posted a 21 per cent year-on-year fall in net profit to $28 million for the first quarter. The group attributed the earnings decline in to a drop in revenue, as well as
      352 words
    • Article, Illustration
      Lock icon STI at new multi-year high but broad market is weak
      570 13  -  STOCKS R Sivanithy sivan@sph.com.sg Senior Correspondent A LARGE push on DBS ahead of its results on Thursday and also on SingTel continued to propel the Straits Times Index upwards yesterday, this time by 6.26 points to 3,368.18, a new multi-year
      570 words
    • Article
      Lock icon Keppel Data Centres Holding unveils plans for third data centre
      288 13  -  By Maria Mala Yogalingam ymaria@sph.com.sg Singapore KEPPEL Data Centres Holding (KDCH) announced plans yesterday to develop its third data centre in Singapore with the completion of the acquisition of a light industrial building from Goodvine. KDCH is a joint venture
      288 words
    • Article
      Lock icon TOP 20 ACTIVES
      222 13 VOL CLOSE CNA 1 69 ,91 1 1 3 .1 7 .9 37 .6 Go l den Agri 92 ,895 53 2 .0 3 .6 Aussino 80 ,646 1 0 .8 0 .8 8 .0 Innopac 70 ,932 20 0 .5 2 .4 WE Hldgs 61 ,294
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    • Article
      Lock icon STI STOCKS
      114 13 Stock name Close Change CapMallsAsia 2.100 -0.020 CapitaLand 3.740 -0.010 CapitaMall 2.320 -0.060 CityDev 11.26 -0.130 ComfortDelGro 1.985 +0.005 DBS Grp 16.76 +0.400 GLP 2.760 +0.020 Genting SP 1.535 -0.030 Golden Agri 0.530 -0.020 HK Land 7.260 -0.060 HPH Trust US$ 0.830 -0.005 JMH 64.93 -0.560 JSH 39.00
      114 words
    • Article
      Lock icon India’s Life Insurance Corp opens full S’pore subsidiary
      374 13  -  By Malminderjit Singh msingh@sph.com.sg Singapore INDIA’S public sector insurer, Life Insurance Corporation (LIC), has officially opened its wholly owned subsidiary in Singapore. LIC (Singapore) Pte Ltd will expand the group’s global footprint into South-east Asia and become its 13th international operation joining
      374 words
    • Article
      Lock icon TOP GAINERS
      61 13 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 245.5 1.8 IS DJ US Tech 7275 206.0 2.3 DBXT MSAsExJp 10US$ 3355 119.6 3.0 IS S&P500 ***** 119.6 0.6 DBS.ES.1305 1681 55.0 3.4 DBXT MSPacExJp 10US$ 538 45.6 7.4 DBS Grp 1676 40.0 2.4 OCBC Bk 5.1%NCPS 100 *****
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    • Article
      Lock icon TOP LOSERS
      57 13 BY CENTS CLOSEDOWN Jardine C&C 4870 -78.0 -1.6 JMH 6493 -69.1 -0.9 Hyflux 6% CPS 10 ***** -40.0 -0.4 Spore Land 885 -34.0 -3.7 GLD 10US$ ***** -32.1 -0.2 CityDev 1126 -13.0 -1.1 IS LC BND 100US$ 1064 -12.3 -0.9 Ezra.ES.1304 96 -10.5 -9.9 Vicom 498 -9.0 -1.8
      57 words
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      217 10 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF (1) FRONTIER PROPERTIES PTE. LTD. Co. Reg. No. *****7990D (2) THE OFFICE CHAMBER PTE LTD Co. Reg. No. *****4489E (IN MEMBERS’ VOLUNTARY LIQUIDATION) NOTICE OF FINAL MEETINGS NOTICE IS HEREBY GIVEN that the Final Meetings of
      217 words
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      711 11 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF (1) A LOGISTICS PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) Co. Reg. No. *****0817R (2) BOUSTEAD MEC. PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) Co. Reg. No. *****8503C (3) C E HAVEN (S) PTE LTD (IN MEMBERS’ VOLUNTARY
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  • SINGAPORE
    • Article, Illustration
      Lock icon JTC launches three plots at Tuas South for sale
      492 14  -  The sites have a lease term of 22 yrs each and a maximum permissible gross plot ratio of 1.0 By Mindy Tan tanmindy@sph.com.sg JTC Corporation has launched three plots of land at Tuas South Street 6 for sale by public tender.
      492 words
    • Article, Illustration
      Lock icon Far East’s Ferra launches 30 units for sale
      330 14  -  By Nathaniel Chew natchew@sph.com.sg FAR East Organization is today launching 30 units of its 104-unit luxury condominium project, Ferra, for sale. Prices for the 22-storey development at 1 Leonie Hill start from $2.3 million for a 732 sq ft unit, or $3,160
      330 words
    • Article
      Lock icon SingPost investing $45m to upgrade mail sorting system
      373 14  -  New machines boost efficiency with three-in-one functions By Ng Sai Ying nsaiying@sph.com.sg PLANS for an upgrade of SingPost’s mail sorting infrastructure to a more efficient automated system are underway. The $45 million investment replaces all 26 existing sorting machines with an integrated
      373 words
    • Article, Illustration
      Lock icon OCBC opens $60 million regional learning centre in Tanjong Pagar
      394 15  -  1 0-storey building houses 12 classrooms and 8 discussion rooms, among others By Maria Mala Yogalingam ymaria@sph.com.sg OCBC Bank officially opened its $60 million regional learning centre, OCBC Campus, yesterday. The facility runs training and development courses for the more
      PHOTO: ARTHUR LEE  -  394 words
    • Article
      Lock icon ArtScience Museum among seven winners of BCA award
      319 15  -  Engineers honoured for exemplary designs, high safety standards By Mindy Tan tanmindy@sph.com.sg THE iconic ArtScience Museum is one of seven projects to win the Building and Construction Authority’s Design and Engineering Safety Excellence Award this year. Resembling a lotus flower on an
      319 words
    • Briefing
      • Article
        Lock icon Standard Chartered opens 3 ‘proximity’ branches
        92 15 STANDARD Chartered yesterday unveiled three branches conceptualised to provide personal- and business-banking services for customers who live and work in their vicinity. One is in the Mandarin Gallery for high-net-worth and affluent customers who shop and dine there; the second is at Plaza Singapura
        92 words
      • Article
        Lock icon NUS, IBM to set up centre for business analytics with EDB
        153 15 THE National University of Singapore (NUS) and IBM will jointly set up the NUS Centre for Business Analytics in partnership with the Singapore Economic Development Board. The centre will help students and mid-career professionals gain the latest skills in
        153 words
    • Article
      Lock icon Do more to boost wages, ease inflation burden: WP
      376 16  -  Party urges businesses, employers to make use of Budget measures to improve business process efficiency and upgrade workers’ skills By Lee U-Wen leeuwen@sph.com.sg WHILE this year’s Budget has done much to boost the skills and incomes of workers in Singapore, more
      376 words
    • Article
      Lock icon Tapping crowdsourcing in the public service
      425 16  -  Inaugural eGovernment Excellence Awards recognise 18 winners By Lim Jia Ying sofialim@sph.com.sg AN INTERNAL crowdsourcing competition has been launched among public officers for them to come up with fresh ways to deliver public services and information. The competition, called Ideas4SG, requires them to use
      425 words
    • Article, Illustration
      Lock icon Young cancer patient’s wish granted
      260 16 THE Make-A-Wish Foundation here marked World Wish Day on Monday by granting the wish of Marcus Ong, who has acute lymphoblastic leukemia, a cancer of the white blood cells. The 20-year-old Singapore Polytechnic student, whose cancer has been in remission since 2011, had wished for
      260 words
    • Article
      Lock icon Fire razes 3 warehouses in Jurong
      183 16 THREE adjacent warehouse units in Jurong were razed in a fire that broke out yesterday morning. The flames were fed by furniture, wooden materials and machinery, which were all left charred, said the Singapore Civil Defence Force (SCDF). Alerted to the blaze along Link
      183 words
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      190 17 Never Hit Another jh e p oa j STCars is now available on Android iPhone for FREE! 32 79% 7 Guides Articles STCars New Cars e-through Merc Samuel Ee lished: 2013-01-26 w mSk Volkswagen Beetle 1.2 TSI A P,ice *168,300 Eng Cap. 1.197 CC P w 105/- bhp/rpm T e
      190 words
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  • WORLD
    • Article, Illustration
      Lock icon Investment fund seeks US$1.5b from HSBC
      574 18 Lender faces many complaints in Ireland over claims it failed to discover Madoff’s activities Bloomberg Dublin FOUR years after Bernard Madoff pleaded guilty to running the largest Ponzi scheme in history, investors are still trying to get their money back. Thema International Fund is
      Bloomberg; PHOTO: REUTERS  -  574 words
    • Article
      Lock icon New Italian govt gets Senate’s nod
      358 18 AP Rome ITALIAN Premier Enrico Letta’s cross-party government won a final vote of confidence in Parliament yesterday, giving life to a grand coalition that aims to put aside decades of animosity to return the eurozone’s third-largest economy to growth. Mr Letta’s first order of
      AP  -  358 words
    • Article
      Lock icon Tokyo governor apologises for remarks on Istanbul
      347 18 AP Tokyo TOKYO governor Naoki Inose offered a “sincere apology” yesterday for criticising rival candidate Istanbul in violation of IOC rules on the bidding for the 2020 Olympics. Mr Inose, also chairman of the Tokyo bid committee, was quoted in The New York
      AP  -  347 words
    • Article, Illustration
      Lock icon Is the ECB to blame for the Cyprus crisis?
      718 19 Critics say Cypriot bank got to stay on life support NYT Frankfurt THERE are certainly plenty of people who could be blamed for the economic crisis in Cyprus that caused worldwide anxiety last month. The potential culprits include Cypriot bankers who
      NYT; PHOTO: AFP  -  718 words
    • Article
      Lock icon Hollande slashes capital gains taxes drastically
      337 19 AP Paris PRESIDENT Francois Hollande has announced a series of measures to encourage the French entrepreneurial spirit, including drastic cuts in capital gains taxes up to 65 per cent for the sale of small companies and a plan to make France start-up friendly. Mr
      AP  -  337 words
    • Article, Illustration
      Lock icon The maze behind EU’s ‘treaty change’
      1016 20 Schaeuble’s comments lead to angst in the corridors of Brussels Reuters Brussels IF THERE are two words that tense the jaws of European policymakers and prompt a concerned sucking of teeth, they are treaty change. Like a nervous driver being told mid-route that he
      Reuters; PHOTO: REUTERS  -  1,016 words
    • Article
      Lock icon EU discussing proposal to shield savers from future bank collapses
      418 20 Reuters Brussels DEPOSITORS should be the very last to suffer losses when a bank collapses, according to a proposal being discussed by European Union countries, which would shield savers from the kind of losses they face in Cyprus. The idea
      Reuters  -  418 words
    • Article, Illustration
      Lock icon UBS first-quarter profit beats analysts’ forecasts
      747 22 Earnings fall to 988m francs from 1.04b francs a year earlier, surpassing the 412.3m franc mean estimate of nine analysts Bloomberg Zurich UBS AG, Switzerland’s biggest bank, reported first-quarter earnings that beat analyst estimates on higher revenues at the investment bank and in wealth
      Bloomberg; PHOTO: REUTERS  -  747 words
    • Article
      Lock icon BP’s Q1 profit slips on lower oil prices, output
      592 22 Earnings decline to US$4.2b from US$4.7b a year earlier Bloomberg London BP plc reported a drop in firstquarter profit as crude prices fell and production declined at Europe’s second-largest oil and gas company. Earnings adjusted for one-off items and inventory changes
      Bloomberg  -  592 words
    • Article, Illustration
      Lock icon US debt-ceiling fight to zoom in on China loans
      755 23 But China holds just 7% of total US debt, with bulk held by domestic institutions led by Fed AP Washington AFTER all, China isn’t the US’s biggest creditor. America is. The bulk of the national debt soon to exceed a staggering
      AP; PHOTO: AP  -  755 words
    • Article
      Lock icon S Korea industrial output falls 2.6%
      245 23 March decline comes as weaker yen squeezes carmakers AFP Seoul SOUTH Korea’s industrial output fell for a third straight month in March as carmakers struggled in the face of a weaker yen, which benefits their Japanese rivals, official data showed yesterday. Production in the
      AFP  -  245 words
    • Article, Illustration
      Lock icon Eurozone jobless at record high; inflation at 3-year low
      642 24 Figures raise expectations of ECB rate cut to re-ignite economy Reuters AP Brussels INFLATION in the eurozone has fallen to a three-year low and unemployment is at a new record, data showed yesterday, raising expectations of an interest rate cut by
      Reuters; AP; PHOTO: BLOOMBERG  -  642 words
    • Article
      Lock icon Lloyds Bank Q1 profit soars
      328 24 Bloomberg London LLOYDS Banking Group plc, Britain’s biggest mortgage lender, said profit jumped almost threefold in the first quarter as impairments for souring loans dropped by more than analysts had estimated. Pre-tax profit before exceptional items rose to £1.48 billion (S$2.83 billion), up 297.8 per
      Bloomberg  -  328 words
    • Article
      Lock icon More money buys more happiness: US researchers
      418 24 AFP Washington MONEY does indeed buy happiness, and more money leads to more happiness, according to a study released on Monday by economic researchers. While a link between money and well-being is not surprising, the new study contradicts some earlier research which suggested
      AFP  -  418 words
    • Article
      Lock icon Working in China comes with health risks
      706 25 The country’s pollution has driven away expats and made locals discontent AP Beijing WHITNEY Foard Small loved China and her job as a regional director of communications for a top carmaker. But after air pollution led to several stays in hospital and finally
      AP  -  706 words
    • Article, Illustration
      Lock icon Alibaba acquires 18% stake in Sina’s Weibo
      447 26 Firms will work on user-account connectivity, data exchange, online payment and marketing Bloomberg New York ALIBABA Group Holding Ltd agreed to buy a stake of about 18 per cent in Sina Corp’s Weibo for US$586 million, connecting China’s largest Twitter-like service with the
      Bloomberg; PHOTO: REUTERS  -  447 words
    • Article
      Lock icon Sands China woos families with Shrek, Kung Fu Panda
      475 26 Bloomberg Hong Kong SANDS China Ltd is giving Shrek and Kung Fu Panda a home at its Macau gambling resorts. The casino operator, controlled by billionaire Sheldon Adelson, has entered into a licensing agreement with DreamWorks Animation SKG Inc to use
      Bloomberg  -  475 words
    • Article, Illustration
      Lock icon Unilever pumping US$5.4b into India unit
      372 27 Anglo-Dutch company bets on rising affluence in the country, raising its stake up to 75% Reuters Bloomberg Mumbai UNILEVER plc will pay as much as US$5.4 billion to raise its stake in its India unit, Hindustan Unilever, up to 75 per cent in a
      Reuters; Bloomberg; PHOTO: AFP  -  372 words
    • Article
      Lock icon Maruti to boost sales in rural areas to protect profit margin
      696 27 Bloomberg Mumbai MARUTI Suzuki India Ltd, the nation’s biggest carmaker by volume, is tapping the country’s rural market to boost sales and shield its best profit margin since 2011. Maruti, which almost doubled net income in the quarter ended
      Bloomberg  -  696 words
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      29 19 SINGAPORE S HOT "orresr WTS LIGHTNING STRIKES CATCH THE ALL NEW NISSAN HOT FM91.3 THUNDER TRUCK TUNE IN TO HOT FM91.3 FOR MORE INFO WWW.HOTFM.SG I FACEBOOK.COM/HOTFMSG 3* HOTFMSG
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      161 21 AS SIMPLE AS A,B,C Be it a property, car or job opening and anything under the sun, advertising on our respective sites is really hassle-free. Check out any of these 3 easy ways to get started: DIY OR EMAIL Simply visit any of our portals to self-register and place your
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      77 23 5? mm imiii L jag* ioo% b USEFUL! V Mens THE PERFECT BUILD AN 8-PACK MEN S HtAllH SOUP TASTY. MEATY... 5 FREE! i BODY GET RIPPED IN JUST A WEEKS ENDOTHELIAL ION lUUlEH! HOW EGGS CAN RUIN YOUR DIET THE 50-REP WORKOUT ;burn,fat. BURN!] FROM A MAGICIAN! 11 in
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      113 25 U always! like us on D facebook/ufmlOOS follow us on twitter@ufml003 www.uf m lOOS.sg UFM 100.5 S u If 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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      155 27 SMARTS PASSENGERRAIL ASIA 2013 25 27 June 2013, Grand Hyatt Jakarta Event Highlights: Ministerial forum featuring key Indonesian ministers Closed-door luncheon with Indonesia's mayors and province representatives Future Directions Global and regional project showcase Technology showcase Key distinguished speakers include Djoko Kirmanto Minister Ministry of Public Works Indonesia Bambang Susantono
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  • TRANSPORT HUB: SHIPPING
    • Article, Illustration
      Lock icon Ensuring justice for seafarers
      969 28  -  STRAIT TALK By David Hughes btworld@sph.com.sg London JUST like other sections of the community, seafarers sometimes break the law. In principle, when they do they should be held to account through the courts. Seafarers can break the law in two broad ways. They can commit a
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    • Article
      Lock icon Pirates kidnap five foreign sailors off Nigeria
      458 28 AFP Yenagoa, Nigeria PIRATES stormed a cargo ship off Nigeria’s oil-producing southern coast, kidnapping five foreign sailors and stealing cash, a watchdog and a security source said on Monday. The International Maritime Bureau (IMB) said the April 25 incident was carried out by
      AFP  -  458 words
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  • TRANSPORT HUB: AVIATION
    • Article, Illustration
      Lock icon Relaxing rules may help India’s aviation sector
      608 29 Economic overhauls by the government could fuel investment in the beleaguered industry IHT Mumbai ECONOMIC overhauls introduced by the Indian government in September could be fuelling investment in the beleaguered Indian aviation industry. Etihad Airways of Abu Dhabi said last Wednesday that it
      IHT; PHOTO: REUTERS  -  608 words
    • Article
      Lock icon LATAM Air seeking to boost finances
      213 29 Reuters Santiago LATAM Airlines Group SA is mulling a capital increase to boost its finances and regain its investment grade, the regional carrier said on Monday, adding it could launch the operation later this year. Latin America’s largest carrier is the result of Chilean
      Reuters  -  213 words
    • Article
      Lock icon Embraer selling 30 jets to United
      186 29 Bloomberg Atlanta EMBRAER SA will sell 30 regional jets valued at about US$840 million to United Continental Holdings Inc as the world’s largest airline uses a new pilot contract allowing commuter partners to fly bigger aircraft. Deliveries of the 76-seat E-175 jets from Embraer
      Bloomberg  -  186 words
  • Page 29 Miscellaneous
    • Miscellaneous
      Lock icon Page 29 Miscellaneous Column 1
      330 29 Across 9 Dislike lead in play leaving stage (5) 10 House is setting for the whole small Northern horror film (9) 11 Brown as before or in oven (7) 12 A doctor said go in slow movements (7) 13 Springbok? A pig? In part a giraffe-like creature (5) 14 The
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  • TRANSPORT HUB: LAND
    • Article, Illustration
      Lock icon Hertz Q1 profit beats expectations
      374 30 Higher pricing and strong performance of new acquisition Dollar Thrifty drives up earnings Reuters Bangalore CAR rental company Hertz Global Holdings Inc reported a better-than-expected quarterly profit due to higher pricing and strong performance of Dollar Thrifty, which it bought last year. The car rental
      Reuters; PHOTO: BLOOMBERG  -  374 words
    • Article, Illustration
      Lock icon Chrysler’s net income falls 65% in Q1
      462 30 NYT Detroit CHRYSLER Group said on Monday that its net income fell 65 per cent in the first quarter, to US$166 million, as the automaker spent heavily to prepare for new product introductions. Chrysler, the smallest of Detroit’s three auto companies, said revenue
      NYT; PHOTO: BLOOMBERG  -  462 words
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  • Article
    Lock icon Shipping Times
    1680 31 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
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      116 31 J e b e l A l Shanghai~ LaemChabang Chittagong i D a m m a m J e d d a h B r i s b a n e NYK RORO Conventional ServiceREGULAR SERVICE TO P o r t K e m b l a REGULAR SERVICE TO
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      27 32 Experienced sh/p maintenance services wanted. Can -they find your services here in -the Shipping Times? the business Times TO ADVERTISE, CALL JOE WONG AT 9620 1327 311
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      702 33 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) SIN PKL JKT KUC MUA LCB MALAYSIA STAR 24 50 9/5 10/5 14/5 16/5 NOBLE CORAL 57 60 10/5 12/5 MEGAH ENAM 1 60 11/5 13/5 EISHUN 100 80 15/5 17/5 SEIYO SAPPHIRE EAL 17 35
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      229 33 FOONG SUN SHIPPING (PTE) LTD INDONESIA SUMATRA PORTS VESSEL VOY ETA ETD DESTINATION BERJAYA 2 06/13 03/05 05/05 BELITUNG/PKL BALAM SRI JAYA 8 04/13 06/05 08/05 JAMBI/PEKAN BARU CARAKA JN332 03/13 03/05 05/05 PALEMBANG/PANJANG SINOPA 06/13 08/05 10/05 BENGKULU/PADANG FAJARMAS 05/13 IN PORT 03/05 BELAWAN/LHOKSEUMAWE NEE DIAK 1 04/13 13/05
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon Feeding Asia’s energy appetite
      984 34 / 35  -  Asia must act now to deliver more and cleaner energy if it is to successfully power inclusive, sustainable growth this century. By Changyong Rhee By Changyong Rhee ~The writer is chief economist, Asian Development Bank ASIA’S rise is increasingly considered a foregone conclusion, yet the extent
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      Lock icon Indian businesses turning to South-east Asian pastures
      965 34 / 35  -  By Neeta Lal ~The writer is a New Delhi-based journalist Over the last couple of years, a clutch of South-east Asian economies Singapore, Hong Kong, the Philippines, Indonesia and Thailand have emerged as the go-to destinations for Indian entrepreneurs. The lacklustre business environment
      PHOTO: AFP  -  965 words
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  • Article
    Lock icon SGX
    8166 36 Transaction date: Apr 30 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 15 11.4 8Telecom 13.4 13 10.6 0.8 11.1 64.2 5.2 3 A-Sonic 3.7 3.6 4.4 3.5 26.5 AAT 2 halt 1.6 14.4
    8,166 words
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  • Article
    Lock icon SGX CATALIST
    1850 39 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21.5 15 t 800 Super 19.3 19.3 20.5 3.3 5.2 5.8 34.5 6.2 2.8 t AA Grp 4.1 3.8 4.6 205 3.9 40 17.2 t
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  • Article
    Lock icon SECURITIES TRADING SCOREBOARD
    186 39 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 6 3 0 0 0 6 6 3 Manufacturing 50 69 37 7 12 11 57 81 48 Commerce 18 27 18 2 7 5 20 34 23 Tpt/Stor/Comms 20 15 7
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  • Article
    Lock icon BT SHARE INFORMATION SERVICE
    804 39 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Apr 29 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Swissco Hldgs 29-Apr-13 Yeo Kian Teong Alex Buy 105 ***** 5.87 ***** 5.88 Swissco Hldgs 29-Apr-13 Robert
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  • Article
    Lock icon SECURITIES TRADING TURNOVER
    123 39 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 88,054 88,054 237,297 237,297 Manufacturing 342,294 169,971 512,265 254,067 9,447 263,514 Commerce 192,003 117,930 309,933 121,786 10,706 132,493 Tpt/Stor/Comms 156,672 15,296 171,968 305,800 6,031 311,831 Finance 100,711 107 100,818 351,453 45 351,497 Construction 80,775 35,892
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  • MARKETS
    • Article
      Lock icon LIFFE
      93 40 Apr 29 COCOA (£/tonne) Close Prev High Low May 13 1523 1542 1538 1511 Jul 13 1526 1546 1546 1516 Sep 13 1535 1555 1553 1525 Dec 13 1538 1557 1554 1530 COFFEE(US$/tonne) Close Prev High Low May 13 1961 1961 1962 1947 Jul 13 2010 2007 2014 1993
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    • Article
      Lock icon METALS
      67 40 Apr 30 GOLD(US$/oz) Apr 30 Apr 29 Hong Kong 1482.00 1481.50 Apr 29 Apr 26 London 1472.25 1477.10 1473.03 1478.10 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 30.18 29.29 Source: UOB PLATINUM Lon (US$/oz) Apr 29 Close Previous PM Fix 1505.00 1483.00 AM Fix 1493.00 1477.00 Source:
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    • Article
      Lock icon PALM OIL
      60 40 Apr 30 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 13 2240.0 2249.0 2275.0 2240.0 147 1666 Jun 13 2287.0 2283.0 2307.0 2270.0 1874 ***** Jul 13 2288.0 2286.0 2302.0 2270.0 ***** ***** Aug 13 2290.0 2283.0
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      118 40 Apr 30 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.307 1.245 Can dollar 1.242 1.195 Euro 1.653 1.575 Sterling pound 1.947 1.873 NZ dollar 1.080 1.039 US dollar 1.258 1.199 Local dollars to 100 units of foreign currency: Currencies Sell
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    • Article
      Lock icon CHICAGO BOT
      104 40 Apr 29 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low May 13 1471.75 1430.75 1475.00 1425.00 Jul 13 1408.75 1381.00 1411.00 1377.50 Aug 13 1345.00 1318.50 1347.25 1316.75 Sep 13 1270.25 1247.50 1272.25 1246.00 SOYBEAN OIL(60,000 lbs; USc/lb) Close Previous High/Low May 13 49.46 49.66 50.00
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      Lock icon STOCK MARKETS
      2 40
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    • Article
      Lock icon LONDON METALS
      71 40 Apr 29 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1860.75 1845.00 3 months 1899.00 1878.00 Copper, Grade A (US$/tonne) Cash 7120.50 6998.00 3 months 7153.50 7030.00 Lead (US$/tonne) Cash 2023.25 2016.00 3 months 2044.00 2037.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • Article
      Lock icon OIL
      68 40 Apr 29 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 103.58 0.38 WTI (Near Mth) 94.20 1.33 Dubai (1-Mth F) 100.81 0.11 Tapis blend 106.92 0.52 Minas 102.42 0.52 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 93.17 -0.50 Jet Kerosene 114.62 -0.51 US$/barrel OpecOil Basket Price 100.91
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      373 40 In local curr In S$ In US$ dy yr dy yr dy yr Apr 29 Index Change Change Change Change Change Change World Preliminary 1047.5 0.6 11.6 0.4 10.7 0.7 9.6 EAFE Preliminary 876.3 0.5 13.1 0.5 9.7 0.7 8.6 Europe Preliminary 1236.7 0.7 7.8
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    • Article
      Lock icon GOVERNMENT SECURITIES
      90 40 Apr 30 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****A 25-Jul-13 0.24 0.20 6-Month BS*****N 01-Nov-13 0.25 0.20 1-Year BY*****H 02-May-14 0.26 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-13 100.09 100.15 100.15 5-Year
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 40 Apr 30 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2769 1.2776 1.0353 1.0357 Canadian dollar 1.2188 1.2191 0.9882 0.9881 Euro 1.6133 1.6139 1.3080 1.3083 NZ dollar 1.0546 1.0553 0.8550 0.8555 Sterling pound 1.9110 1.9116 1.5494 1.5496
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  • EXECUTIVE MONEY
    • Article, Illustration
      Lock icon Disclosure of CEO-to-worker pay ratios stuck at SEC
      1391 41 Commission has yet to draw up rules to implement it despite income inequality becoming a social flashpoint Bloomberg New York FORMER fashion jewellery saleswoman Rebecca Gonzales and former chief executive officer Ron Johnson have one thing in common: JC Penney Co no
      Bloomberg; PHOTO: REUTERS  -  1,391 words
    • Article, Illustration
      Lock icon Russian billionaire bets US$100m on Apple
      621 42 He says shares a promising investment for next 3 years, given large payouts, buybacks Bloomberg Moscow ALISHER Usmanov, the Russian billionaire who made a more than 10-fold return from his investment in Facebook, said he recently spent about US$100 million buying Apple shares in
      Bloomberg; PHOTO: BLOOMBERG  -  621 words
    • Article
      Lock icon Symphony seeks private-equity deals outside Indonesia
      669 42 Bloomberg Singapore SYMPHONY International Holdings Ltd said it’s seeking privateequity deals in markets including Malaysia and Thailand as assets in Indonesia, where it has invested for more than two decades, have become overvalued. An increasing number of buyout firms seeking companies that serve the
      Bloomberg  -  669 words
    • Article, Illustration
      Lock icon Implications of Japan’s reflation effort
      1032 43  -  The liquidity BOJ is proposing to create may eventually work its way off-shore, perhaps to boost assets across the Asia region MONEY MATTERS John Woods Chief Investment Strategist Citi Private Bank, Asia Pacific IT’S been hard to pick up a local paper in recent weeks
      PHOTO: BLOOMBERG  -  1,032 words
    • Article, Illustration
      Lock icon Risk appetite at inflection point: Coutts
      614 44  -  A sizeable portion of clientele in Asia already satisfies the ultra-high-net-worth threshold. By Genevieve Cua RISK appetite is at an inflection point, says Coutts head of private office Duncan MacIntyre, as clients scour for investment options other than fixed-income assets. While there is keen
      614 words
    • Article, Illustration
      Lock icon ETP gold assets poised for biggest monthly fall
      584 44 Bloomberg New York GOLD held in exchange traded funds and products backed by the metal is set for the biggest monthly drop ever, after investors sold out of bullion on optimism that the global economy is recovering. Assets in ETPs fell 168.22
      Bloomberg; PHOTO: REUTERS  -  584 words
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