The Business Times, 4 June 2013

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Total Pages: 30
1 30 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Tuesday, June 4, 2013
    25 words
  • Article, Illustration
    Lock icon Telcos backed into a corner by OTT players
    854 1  -  As WhatsApp and Skype eat into their revenues, telcos are clutching at straws By JOYCE HOOI [SINGAPORE] As telcos eye the impending Armageddon of social messaging, they will find themselves hemmed in by rocks and hard places. Worse still, beyond the prospect
    Source: Telcos' earnings reports  -  854 words
  • Article
    Lock icon S’pore bright spot amid regional PMI gloom
    631 1  -  Electronics sector shines again as data signals more good news for Republic By TEH SHI NING [SINGAPORE] Singapore’s industrial activity grew at a faster pace in May, according to its latest purchasing managers’ index (PMI), which also signalled a fourth consecutive month of
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  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 HST INDEX 3,291.08 (-20.29) HST INDEX FUTURES 3,292.00 (-20.00) HSIMSCI 368.44 (-2.10) HSIMSCI FUTURES 368.30 (-0.70) US$ S$ US$ (S$ per US$) 1.259 (US$/S$ per 1.526 1.921 EURO (US$/S$/€ 1.303 1.640 Foreign currency per US$ S$ YEN 100.20 79.60 RM 3.099 2.462 HK$ 7.763 6.168 BAHT 30.45 24.19 RUPIAH
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    • Article
      Lock icon MARKETS
      48 1 Monday Change KL COMP 1,766.33 -2.89 NIKKEI 225 13,261.82 -512.72 HANG SENG 22,282.19 -109.97 SET INDEX 1,539.26 -22.81 JAKARTA COMP 4,971.35 -97.27 MANILA COMP 6,763.38 -258.57 SEOUL COMP 1,989.57 -11.48 SHENZHEN B 879.02 +3.08 MUMBAI IND 19,610.48 -149.82 12noon EDT Change DOW 15,169.98 +54.41 NASDAQ 3,428.18 -27.73
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    • Article
      Lock icon PRIME RATES
      21 1 SINGAPORE 5.38 HONG KONG 6.55 HONG KONG 5.00 JAPAN 13.021 TAIWAN 5.036 JAPAN 1.475 SWITZERLAND 9.33 BRITAIN Source: Bloomberg
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      91 1 PROPERTY Simon Cheong sells his Cornwall Gardens home for$42.5m page 30 BILATERAL TIES Timor-Leste inks air services deal with Singapore PAGE 9 COMPANIES DBS extends Danamon deadline PAGE 7 OPINION Singapore: Strong base for financial reporting PAGE 23 Inc Q’son Kitchen Equipment hits on winning recipe, says managing director Sally
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      2 1 *****1 *****4
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  • TOP STORIES
    • Article, Illustration
      Lock icon Nikkei sheds 3.7% on Japan, China concerns
      517 2  -  Some see more downside to market as data shows fall in business investment By ANTHONY ROWLEY in Tokyo THE Tokyo stock market suffered yet another sharp drop yesterday on conflicting signals about the health of the Chinese economy and with official data showing
      517 words
    • Article
      Lock icon New template for Islamic money market product
      469 2  -  Move aimed at cutting reliance on commodity-linked products By KENNETH LIM [SINGAPORE] The International Islamic Financial Market (IIFM) standard setting body has come up with guidelines for inter-bank transactions aimed at improving the efficiency and use of money markets. “This global standard documentation
      469 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      519 2 Telcos backed into a corner by OTT players AS telcos eye the impending Armageddon of social messaging, they will find themselves hemmed in by rocks and hard places. Worse still, beyond the prospect of falling revenues lies nothing but a yawning abyss. Over-the-top apps such as WhatsApp, Skype
      519 words
    • Article
      Lock icon Contraction in eurozone manufacturing slows
      496 4  -  May PMI rises for first time in 4 months to 48.3, highest since Feb 2012; UK output growth fastest in a year By NEIL BEHRMANN in London THE rate of European manufacturing contraction has slowed down, according to a marginally more optimistic assessment by Markit,
      496 words
    • Article
      Lock icon Competitive licensing framework for LNG supplies in the pipeline
      750 4  -  Move gives flexibility to procure LNG tranche by tranche By RONNIE LIM [SINGAPORE] To ensure price-competitive and stable supplies, Singapore is looking to introduce a Competitive Licensing Framework (CLF) that will give it the flexibility to procure its future liquefied natural
      750 words
    • Article, Illustration
      Lock icon China factory output contracts in May for first time in 7 mths
      670 4 Reuters [BEIJING] China’s factory activity shrank for the first time in seven months in May as both domestic and external demand softened, while growth in the services sector cooled, pointing to slowing momentum in the world’s second-larg-est economy.
      Reuters; PHOTO: REUTERS  -  670 words
    • Article, Illustration
      Lock icon Brighter outlook for airline industry: Iata
      832 4  -  Revises upwards its forecast; expects 20% boost in profit By NISHA RAMCHANDANI [SINGAPORE] Improved performance and softening fuel prices are expected to help the airline industry net a profit of US$12.7 billion this year, making it the third strongest year for the industry since
      Source: Iata  -  832 words
    • Article
      Lock icon Johor property tax hike won’t hit S’pore demand
      523 4  -  By ONG CHOR HAO [SINGAPORE] Market watchers are expecting sustained demand from Singaporean investors for Johor properties, after the state government said on Sunday that it will raise tax rates for foreigners owning properties there. One main reason cited is that the
      523 words
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      210 3 RICHARD MILLE A RACING MACHINE ON THE WRIST 8i r n m s r m 20 C 'j 35. s S3 i* s 4* w. n 4 f V N i V 35 SWis r S30 Made 25 4 lvw> RM 022 “AERODYNE" DUAL TIME ZONE or>* Baseplate of honeycombed
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  • COMPANY NEWS
    • Article
      Lock icon Asian Micro eyes Oxley Global in proposed RTO deal
      501 5  -  By KENNETH LIM ASIAN Micro Holdings is planning to acquire Oxley Global Limited in a proposed reverse takeover (RTO) deal. The Catalist-listed provider of natural gas supply equipment and semiconductor cleaning services said in a regulatory filing that it has inked
      501 words
    • Article
      Lock icon Securities and derivatives trading on SGX up in May
      385 5  -  By CAI HAOXIANG SECURITIES and derivatives trading activities on the Singapore Exchange (SGX) grew in May amid a stock market rally that lasted most of the month. Bond listings almost tripled in value and Nikkei options volume almost quadrupled, showing steady
      385 words
    • Article
      Lock icon Datapulse Q3 profit up 23.2%
      372 5  -  Revenue falls 28.4%; earnings helped by 34.6% drop in total operating expenses By CARINE LEE DATAPULSE Technology yesterday posted a 23.2 per cent increase in net profit to $2.19 million for its fiscal third quarter ended April 30, 2013, from $1.77 million a year ago.
      372 words
    • Article
      Lock icon NH Ceramics closer to being a coal producer
      509 7  -  Conditional deal with 5 parties to buy 2 BlackGold firms for US$150m By ANDREA SOH BUILDING materials supplier NH Ceramics has moved one step closer to being a coal producer through a reverse takeover deal. The Catalist-listed group entered into a conditional
      509 words
    • Article
      Lock icon Halcyon Agri to buy Malaysian rubber producer for RM63m
      389 7  -  By CAI HAOXIANG ON THE heels of plans for a capital injection, Indonesian rubber processor Halcyon Agri yesterday announced its first major acquisition: a RM63 million (S$25.7 million) purchase of Malaysian rubber processor Chip Lam Seng. This will more than double
      389 words
    • Article, Illustration
      Lock icon DBS extends Danamon deadline
      528 7  -  Long-stop date for stake from Temasek unit is now Aug 1 By KENNETH LIM DBS Group Holdings gave itself another two months to acquire a controlling stake in PT Bank Danamon Indonesia as a key Indonesian official said ongoing talks regarding the deal now awaited a
      PHOTO: REUTERS  -  528 words
    • Article
      Lock icon SingTel submits bid for Myanmar telco licence
      323 8  -  It is one of 11 applicants; Digicel and MTN also in the running By JOYCE HOOI SINGTEL has submitted its bid for a Myanmar telco licence, the group said yesterday. This makes it one of 11 applicants competing for the two available telco
      323 words
    • Article, Illustration
      Lock icon StarHub sees brief uptick on stock upgrade
      462 8  -  OCBC’s re-rating of the stock from ‘sell’ to ‘hold’ helps trigger brief resurgence By JOYCE HOOI STARHUB stock flirted with a reversal of fortunes after a month-long correction, rising as much as 9 cents or 2.2 per cent during trading yesterday. Even so,
      PHOTO: BLOOMBERG; Source: Bloomberg  -  462 words
    • Article, Illustration
      Lock icon Moody’s reviews subdebt ratings as it reconsiders govt support assumption
      687 8  -  Move not related to any credit quality deterioration, it says By MICHELLE QUAH MOODY’S Investors Service has placed a host of bank subordinated debt (subdebt) ratings on review, which has implications for Singapore’s three local banks, as it reconsiders the
      PHOTO: REUTERS  -  687 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon QE worries continue to hit stocks
      598 6  -  ST Index loses 20 points but the broad market gets some buying support STOCKS R SIVANITHY Senior Correspondent THE sell-off of last week over worries that the US Federal Reserve may possibly withdraw its monetary stimulus extended into this week with the Straits Times
      Source: Bloomberg  -  598 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      73 6 Jun 3 VALUE CLOSE BT OB/OS -310.00 -60.00 BT CADI -*****.00 -39.00 BT 10-day MA -*****.00 -31.00 FTSE ST Mid Cap 791.93 -1.28 FTSE ST Small Cap 593.54 -0.69 FTSE ST All Share 809.06 -4.09 FTSE ST China Top 209.30 -0.91 FTSE ST China 238.84 -0.58 FTSE
      73 words
    • Article
      Lock icon MOST ACTIVE STOCKS
      52 6 VOLUME Xpress 188,164,000 Ramba 153,158,000 NexGenSCom 138,730,000 Innopac 127,136,000 Mirach Energy 101,770,000 AsianMicro 87,716,000 Interra 69,207,000 FDS Netw 69,094,000 SunlightGrp 68,060,000 WE Hldgs 59,409,000 VALUE($) Ramba 109,927,380 SingTel 91,195,585 DBS Grp 79,309,901 OCBC Bk 77,671,040 UOB 70,346,135 CapitaLand 61,191,714 GLP 50,457,130 Ascendasreit 46,073,598 Keppel Corp 40,566,419 Interra
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 6 3 0 0 0 5 6 3 Manufacturing 46 54 37 8 5 12 54 59 49 Commerce 14 25 17 5 4 3 19 29 20 Tpt/Stor/Comms 9 19 12
      186 words
    • Article
      Lock icon BROKERS’ TAKE
      925 6  -  Compiled by CAI HAOXIANG StarHub June 3 close: $4.05 OCBC Investment Research, June 3 STARHUB Ltd saw a sharp drop in its share price after we downgraded our call from “hold” to “sell’ on May 10 following its Q4 2012 results announcement; note that it had also lowered
      925 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 37,415 37,415 77,692 77,692 Manufacturing 438,204 316,065 754,269 143,422 13,126 156,547 Commerce 362,449 101,999 464,448 83,117 10,224 93,342 Tpt/Stor/Comms 280,102 15,594 295,696 304,010 6,437 310,447 Finance 154,448 365 154,813 289,515 172 289,687 Construction 112,491 50,033
      121 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      115 6 Stock name Close Change CapMallsAsia 1.940 +0.020 CapitaLand 3.450 -0.010 CapitaMall 2.120 -0.030 CityDev 10.75 -0.030 ComfortDelGro 1.890 -0.015 DBS Grp 16.85 -0.310 GLP 2.760 -0.060 Genting SP 1.435 -0.015 Golden Agri 0.565 -0.010 HK Land 6.970 +0.020 HPH Trust US$ 0.795 +0.005 JMH 65.35 -0.350
      115 words
    • Article, Illustration
      Lock icon Euro steady after May manufacturing data
      499 6 CURRENCIES Bloomberg [LONDON] The euro yesterday held a gain from last week against the US dollar after a report showed that manufacturing in the 17-nation currency bloc contracted at a slower pace than initially estimated in May. Europe’s shared currency pared an intraday advance
      Bloomberg; PHOTO: BLOOMBERG  -  499 words
    • Article
      Lock icon RISES
      106 6 BY CENTS CLOSE UP DBXT S&P Short 10US$ 3005 56.6 1.5 DairyFarm 1307 34.0 2.1 Ramba 78 17.5 28.9 OCBC Bk 1049 16.0 1.5 UOL 685 16.0 2.4 DBXT FTChina25 10US$ 2788 11.3 0.3 DBS Bk 4.7% NCPS 100 ***** 8.0 0.1 Blumont 113.5 7.5 7.1 ISDN Hldgs 110
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    • Article
      Lock icon FALLS
      123 6 BY CENTS CLOSE DOWN Lyxor Indonesia10US$ ***** -717.2 -5.3 DBXT Nifty 10US$ ***** -344.8 -2.5 IS S&P500 ***** -226.5 -1.1 OCBC Bk 5.1%NCPS 100 ***** -223.0 -2.2 GLD 10US$ ***** -193.8 -1.1 DBXT MSJAP 10US$ 4110 -174.9 -3.3 DBXT MSTHAI 10US$ 2167 -107.0 -3.8 CIMBAsean40 100US$ 1128 -93.1 -6.2
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 6 DAILY
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      6 7 S IN G A PO RE
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  • Page 8 Advertisements
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      75 8 Take The Next Leap Forward Need help crossing the next professional hurdle in your life? W Visit STJobs.sg/Seminar, to find various courses to upgrade yourself with today. Awarded Best in Cross r-^--•— 'UlL?' Media Advertising (Silver) 319/ for Asian Digital Media Awards 2012 A product of SPH, Singapore's trusted media
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Timor-Leste inks air services pact with S’pore
      470 9  -  More flights will boost bilateral trade and investment, says PM Lee By LEE U-WEN SINGAPORE and TimorLeste have inked an air services agreement that will improve links between the two countries. The deal was signed at the Istana last night by Minister in
      PHOTO: CAROLINE CHIA / THE STRAITS TIMES  -  470 words
    • Article
      Lock icon Portal to help medtech firms go global
      232 9  -  By MARIA MALA YOGALINGAM ASIAPAC Bio (APB), a biomedical consulting firm, has launched a new online portal that targets local and overseas business users in the medtech industry. The Singapore Medtech Portal features business and industry information as well as a comprehensive online
      232 words
    • Article
      Lock icon Quitting to boost career, not the money
      341 9  -  By MA XIANGYU A LACK of career progression is the main reason professionals in the financial services sector seek new employers, says a survey conducted by eFinancialCareers, a global career site. Nearly two-thirds (64 per cent) of employees in the industry said that
      341 words
    • Article, Illustration
      Lock icon RGS choir makes music in banking hall
      261 9  -  –By ARTHUR LEE THE choir of Raffles Girls School (Secondary) put up a lunch-time performance in OCBC’s main banking hall last week. It was a manifestation of the school’s belief that strong academic heritage aside, students should be given a good grounding in
      PHOTO: ARTHUR LEE  -  261 words
    • Article
      Lock icon Angels rain US$500k on local start-up
      549 9  -  By NG SAI YING A SINGAPORE-BASED tech start-up is nursing dreams of putting its 3D printer in every home and it is off to a flying start by having raised five times its funding goal through crowdsourcing website Kickstarter. com. The start-up, Pirate3D, had
      549 words
    • SINGAPORE ROUNDUP
      • Article
        Lock icon Ex-army chief to be permanent secretary
        33 9 FORMER chief of defence force Neo Kian Hong will be appointed permanent secretary (education development) on July 1. Chan Lai Fung will continue as permanent secretary (education).
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      • Article
        Lock icon Ex-law professor jailed five months, fined
        61 9 FORMER law professor Tey Tsun Hang, 42, has been jailed five months and fined $514.80. He was convicted last week of six counts of corruptly obtaining gifts and sex from his former student Darinne Ko. The fine is in relation to part of a
        61 words
      • Article
        Lock icon Work Pass Services Centre to relocate
        60 9 THE Work Pass Services Centre in Tanjong Pagar Complex will move to Hall C of the Ministry of Manpower Services Centre at 1500 Bendemeer Road next Monday. The centre will provide work pass card registration services and operate from 8am to 7.30pm on Tuesdays
        60 words
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  • SME Inc
    • Article, Illustration
      Lock icon Q’son hits on winning recipe
      1114 10  -  KATHEYASfinds out how it grew and the challenges it faces VICTOR KATHEYAS SALLY Chua is so passionate about her business the design, fabrication and installation of industrial kitchen equipment that she worked during what was to have been her post-natal confinement period. The managing director
      PHOTO: ARTHUR LEE  -  1,114 words
    • Article, Illustration
      Lock icon Derivatives can enhance a firm’s valuation
      1046 10  -  THE VIEW FROM NTU PROFESSORS By LEE KIN WAI The writer is an associate professor of accounting, specialising in financial statement analysis, capital market research in accounting, and corporate governance and valuation FINANCIAL derivatives have been at the heart of some of the most
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  • MALAYSIA
    • Article, Illustration
      Lock icon Cautious nod for EC oversight committee
      579 11  -  Think tank urges PM to give it ‘real teeth’; Bersih says just get better people for EC By S JAYASANKARAN By in Kuala Lumpur AN independent think tank has cautiously welcomed Malaysian Prime Minister Najib Razak’s announcement last Saturday that a special bipartisan parliamentary
      579 words
    • Article
      Lock icon M’sian bonds outperform, analysts bullish on ringgit outlook
      440 11 Bloomberg [KUALA LUMPUR] Malaysian bonds outperformed regional counterparts in May after Prime Minister Najib Razak’s election victory removed the risk of a power shift, prompting analysts to maintain forecasts for appreciation in the ringgit this year. Government securities gained an average 0.3
      Bloomberg  -  440 words
    • Article
      Lock icon BAT shares bolstered by 3% cigarette price hike
      437 11  -  By PAULINE NG in Kuala Lumpur SHARES of British America Tobacco (Malaysia) gained 0.7 per cent to RM64 yesterday, after the company raised its cigarette prices by 3 per cent to offset an increase in operational costs. BAT controls some 60 per
      437 words
    • Article
      Lock icon Khazanah selling Tenaga stake worth RM418.5m
      129 11 Reuters [KUALA LUMPUR] State investor Khazanah Nasional Bhd is selling 50 million shares worth up to RM418.5 million (S$170 million) in Malaysia’s largest power utility Tenaga Nasional Bhd, two banking sources said. The shares are being priced at between RM8.12 and RM8.37, said the
      Reuters  -  129 words
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      142 11 ‘s'? r: h Ca •5? s sa r *rv h j r .-£■1 '-=-r m iff fl t X sUsddijstj ‘/ha ffi/jp/ to ijjis/p/jsjjrjjj tiioojkrjoo 'V, Do you lead a local enterprise that has soared to new heights of excellence? It is time to be recognised. Chart new business frontiers
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  • GREATER CHINA
    • Article, Illustration
      Lock icon China’s bond risk at its highest in a year
      788 12 Investors Carson Block, Jupiter Asset Management seek to profit as policymakers rein in debt Bloomberg [BEIJING] China’s bond risk rose the most in a year in May and investors from Muddy Waters LLC’s Carson Block to Jupiter Asset Management Ltd are
      Bloomberg; PHOTO: AFP  -  788 words
    • Article
      Lock icon Cement maker, Bank of Dalian drop IPO plans
      348 12 Reuters [SHANGHAI] China National Building Material Co Ltd (CNBM) and Bank of Dalian have ditched their plans to list shares domestically, highlighting the impact of Beijing’s suspension of initial public offerings. The number of IPO applicants in China has fallen to 666
      Reuters  -  348 words
    • Article
      Lock icon Macau gambling revenue in May up 13.5%
      256 12 Reuters [HONG KONG] Gambling revenue in China’s casino enclave of Macau rose 13.5 per cent in May from a year earlier, boosted by an improving domestic economy and a string of holidays that spurred visits from wealthy Chinese. Revenue for May, which benefited
      Reuters  -  256 words
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  • INDIA
    • Article, Illustration
      Lock icon HSBC PMI for manufacturing slips to 50.1
      559 13 May slowdown seen hampering an already feeble economic recovery Reuters [BANGALORE] Indian manufacturing growth nearly stalled in May as factory output shrank for the first time in over four years, a survey showed yesterday, suggesting the economy remained frail at the start of
      Reuters; PHOTO: REUTERS  -  559 words
    • Article
      Lock icon Fall in oil, gold seen lifting corporate gains
      632 13 Interest rate drop to also help lift profits by 15%, says fund Bloomberg [MUMBAI] Reliance Capital Asset Management, India’s second-biggest money manager, expects earnings at the nation’s biggest companies to expand more than 15 per cent because of falling commodity prices and
      Bloomberg  -  632 words
    • Article
      Lock icon India pips China as top Aussie migrant source
      234 13 AFP [SYDNEY] India has become the leading source of permanent migrants to Australia for the first time, ahead of China, a government report showed yesterday. Reflecting the growing prominence of Asia to Australia, seven of the top 10 source countries during 2011-2012
      AFP  -  234 words
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  • ECONOMY WATCH
    • Article, Illustration
      Lock icon ECB: Gradual rebound for eurozone in H2
      469 14 Draghi sees signs of stabilisation, says monetary union is stable AFP [SHANGHAI] The European Central Bank expects a “very gradual recovery” in the crisis-hit eurozone to start later this year, its president Mario Draghi said yesterday. “The economic situation in the euro area
      AFP; PHOTO: AP  -  469 words
    • Article
      Lock icon Krona’s strength poses no real danger: IMF
      395 14 Currency’s appreciation just reflects Sweden’s economic success, it says Bloomberg [STOCKHOLM] The krona’s strength poses no real threat to Sweden’s recovery and its appreciation just reflects the nation’s economic success, the International Monetary Fund (IMF) said. “Given that we’re close to, or just
      Bloomberg  -  395 words
    • Article
      Lock icon Markets ‘under the spell of monetary easing’, warns BIS
      478 14 Investors ‘tune out’ bad news, expecting continuing stimulus AP [FRANKFURT] Investors have ignored poor economic news as stocks have risen, leaving markets now vulnerable to unsettling volatility and potential losses, an organisation of the world’s central banks says. The Bank for
      AP  -  478 words
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  • WORLD
    • Article, Illustration
      Lock icon HSBC banks on Evans to restore reputation
      706 15  -  Acclaimed ex-top UK spy’s security experience cited as key in fighting crime By NEIL BEHRMANN in London HSBC’s appointment of Jonathan Evans, Britain’s former head of MI5, is a further step to restore the global bank’s reputation. Mr Evans, who quit as the
      PHOTO: BLOOMBERG  -  706 words
    • Article
      Lock icon Manufacturing shrinks the most in 4 years
      372 15 LATEST US DATA Bloomberg [WASHINGTON] Manufacturing in the United States unexpectedly contracted in May at the fastest pace in four years, indicating the industry will provide scant support for the world’s largest economy. The Institute for Supply Management’s factory index fell to 49
      Bloomberg  -  372 words
    • Article
      Lock icon Germany to help Spain with credit for growth, jobs
      546 15 Low-interest 1b euro loan will let SMEs expand their business AP [BERLIN] Germany, Europe’s paymaster, is setting up a loan programme for struggling small and medi-um-sized enterprises (SMEs) in Spain to boost growth and jobs in the cri-sis-hit economy, according to
      AP  -  546 words
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      Lock icon US studying risk from online payment providers: Fed
      282 15 AFP [SHANGHAI] The United States is studying the potential risk from online payment mechanisms like PayPal and Bitcoin, a top US Federal Reserve official told an international conference yesterday. Some bankers have expressed worries that newer players in the online marketplace could
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    • Article
      Lock icon More readers willing to pay for online news
      534 15 AFP [BANGKOK] Global newspaper chiefs have some rare good news to share after years of slumping print sales and advertising revenues readers appear increasingly willing to pay for online news. More than 1,500 newspaper editors and other media figures are meeting in
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    • Article
      Lock icon UBS faces formal inquiry in France over tax shelters
      425 16 One of its units is accused of creating investments to help clients evade taxes NYT [NEW YORK] A unit of the Swiss bank UBS was placed under formal investigation in France in recent days over accusations that it created investments to
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      Lock icon Switzerland has no choice but to give in to US: Ackermann
      613 16 Reuters [GENEVA] Switzerland has no choice but to bow to a US ultimatum and sidestep its banking secrecy laws to end an investigation into how Swiss banks helped wealthy Americans evade taxes, former Deutsche Bank head Josef Ackermann said.
      Reuters; PHOTO: REUTERS  -  613 words
    • Article
      Lock icon French move to ban industrial food from ‘restaurants’
      566 16 AFP [PARIS] Worried its gastronomic reputation is being damaged by substandard eateries, France is considering banning establishments from calling themselves restaurants if meals are not made from scratch by in-house chefs. The move, backed by the Synhorcat restaurant union and a group
      AFP  -  566 words
    • Article, Illustration
      Lock icon Apple gets the timing right for its bond sale
      807 16 Bloomberg [NEW YORK] Apple Inc could have hardly picked a better time to borrow an unprecedented US$17 billion in its first bond sale since 1996. The world’s most valuable technology company is pocketing an initial US$40 million in annual interest savings
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    • Article
      Lock icon Inequality growing in rich countries: ILO
      415 18 It decries surging exec compensation and hoarding of profits by big firms AFP [GENEVA] Inequality is on the rise in most advanced economies, the International Labour Organization (ILO) lamented yesterday, decrying surging executive compensation and large companies hoarding profits rather than investing. The world
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    • Article
      Lock icon Wearable technology in focus at Taipei’s Computex
      308 18 AFP [TAIPEI] Wearable computing, the next great frontier in consumer electronics, is expected to draw crowds to Taipei’s Computex trade fair this week as interest in the technology surges. With rumours of an Apple smart watch around the corner and ongoing hype around
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      Lock icon Savvy investors behind bid for Smithfield
      860 18 Goldman, Temasek, New Horizon hold stakes in Shuanghui NYT [NEW YORK] When a Chinese company bid US$4.7 billion last week to take over Smithfield Foods, America’s biggest pork producer, the deal was announced by the company’s Chinese executives. But behind the bid was a
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    • Article, Illustration
      Lock icon Thailand may refrain from capital controls as baht slides
      654 18 Bloomberg [BANGKOK] Thailand will probably refrain from imposing controls on capital inflows because the baht has stabilised after falling from a 16-year high, according to the head of the finance ministry’s Public Debt Management Office (PDMO). “I don’t see any reason
      Bloomberg; PHOTO: REUTERS  -  654 words
    • Article, Illustration
      Lock icon More European refineries will close: Total CEO
      612 19 This is due to broad consensus for lower CO2 emissions and fuel consumption Reuters [PARIS] Total and other oil majors will shut down more refineries in Europe over the next few years due to the broad consensus for lower CO2 emissions and fuel
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    • Article
      Lock icon Crowds clash with police again in Turkey
      561 19 Govt facing biggest protests since it took power in 2002 AFP [ISTANBUL] Turkey’s Islam-ist-rooted government faced growing pressure yesterday after angry demonstrators clashed for a third night with police in a nationwide wave of protests. Police fired tear gas and water cannon on
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      425 15 -ft tntBrariSBhlT2013 The 10 th International Information Technology Exhibition Conference for the Enterprise 18-21 June 2013 Basement 2, Level 1 3 Marina Bay Sands Enterprising Solutions, Enabling Businesses Pre-registration is closing in 3 days! Register online NOW at www.goto-enterpriselT.com/ pre-registration Source for the latest business-enabling technologies and solutions at EnterpriselT2013
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      600 16 ■4 [«ATS NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SOURCELINK PHARMA PTE. LTD. (In Creditors’ Voluntary Liquidation) (Co. Reg. No. *****3785H) NOTICE OF RESOLUTION At an Extraordinary General Meeting of the abovenamed Company duly convened and held on the 29 th day
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      20 16 .-7,+ "5"2#= 47(76;?? #!;83=" >$2" US Swiss 9#;0 <* buyers up in -PlgflP To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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      136 17 Time is money. We’ll make this brief. System to join dots in the capital market H B US i EP Jiu. THE BUSINESS TIMES System to join dots O O in the capital market l*i The Business Times Sport yuan dNtng to M< CM Jmongp^Nns System to join dots in
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      24 18 Blulnc A SUBSIDIARY OF SPH MAGAZINES PTE LTD Blu Inc Media (HK) Ltd. Tel: 852 2165 2800 Fax: 852 2868 1799 Email: queries@bluincmedia.com www.bluincmedia.com
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      72 18 Creating Experience. Value. Partnerships We bring Inspiration, Innovation, Value to your business! FUTURE TRAN ASIA 2013 We help you make a mark in the transport sector: Airport Terminals Aviation Rail Road Find out how to target your market today. Organised by: sphere SINGAPORE PRESS HOLDINGS Find out more about the
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      1422 19 WATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices BEST WORLD INTERNATIONAL LIMITED (Incorporated in the Republic of Singapore on 11 December 1990) (Company Registration No. *****6030Z) NOTICE OF EXPIRY OF BONUS WARRANTS TO: ALL HOLDERS OF BONUS WARRANTS TO SUBSCRIBE FOR NEW SHARES IN BEST WORLD INTERNATIONAL LIMITED (THE •COMPANY")
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      360 20 Your Bundle Of Joy With The Samsung GALAXY S4 With LIE a JNG v 9 SAMSUNG Sfh .DOWNLOAD The Straits Times The Straits Times Android Smartphone App features the Print Edition and latest News, Stocks, Weather and Photos... Version: 1.5.8 The Business Times The Business Times I Android Smartphone App
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  • AVIATION/SHIPPING
    • Article, Illustration
      Lock icon Iata members back aircraft emission proposal at AGM
      661 21  -  Association bumps up 2013 airline profit forecast by 20% to US$12.7b By NISHA RAMCHANDANI AIRLINES have voted in favour of a proposal to tackle aircraft emissions, seen as a crucial first step that will help resolve a political stand-off between the European
      PHOTO: AFP  -  661 words
    • Article
      Lock icon Govts act to thwart jamming attacks on ships
      666 21 UK, Korea deploy back-up devices to avert disaster Reuters [LONDON] Ships on the world’s busiest waterways face growing threats to their satellite navigation systems, including jamming attacks, prompting Britain and South Korea to deploy back-up devices to avert potential disasters at sea.
      Reuters  -  666 words
    • Article, Illustration
      Lock icon Davao airport closed after accident
      264 21 AFP [MANILA] Philippine aviation authorities shut down one of the country’s busiest airports yesterday after a passenger jet overshot the runway when landing during a rainstorm, officials said. The Civil Aviation Authority of the Philippines (CAAP) said Davao International Airport in the south of the
      AFP; PHOTO: REUTERS  -  264 words
    • Article, Illustration
      Lock icon SIA takes US$17b swipe at budget rivals
      636 21 Bloom berg [SINGAPORE] Singapore Airlines chief executive officer Goh Choon Phong watched budget airlines in neighbouring Indonesia and Malaysia order some 800 aircraft in the 21/2 years he has been at the helm. With SIA having the third highest cash reserves among airlines
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    • Article
      Lock icon Lufthansa may buy twin-engine jets
      214 21 Bloomberg [LONDON] Deutsche Lufthansa chief executive officer Christoph Franz said Europe’s second-larg-est airline may replace its residual fleet of Boeing 747-400 jumbos with twin-engine jets as it looks to cut fuel costs. The replacement of about 13 747-400s would take place next decade when it
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      61 21 HOT PROPERTY sA S*S&P9i 1636-1959 sqft ell 9 lb,e Launch° W F®eh^d C ch St Ncw Mall, Clinic, FSB shop h PP n9 FREEHOLD SHOP. 1,10 sqft station. Flce n9 m a n MRT Good traffic road LOOKING FOR FREEHOLD SHOP SPACE? Check this and many other properties in CATS
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  • Page 21 Miscellaneous
    • Miscellaneous
      Lock icon Page 21 Miscellaneous Column 1
      332 21 CRYPTIC CROSSWORD Across 1 Person in choir seeing offender losing name for good (6) 4 Beast’s protection mostly by assent in Germany (6) 8 Expert on female wit gets one in hand (4,4) 10 What’s more, small child stifles exclamation of disapproval (2,4) 11 Tax frivolity, dismissing it (4) 12
      332 words
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  • EDITORIAL & OPINION
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      Lock icon Aviation: a time for cautious optimism
      463 22 EDITORIAL THIS week’s annual gathering of some 700 leaders of aviation in Cape Town is a somewhat happier occasion than most such previous gatherings. A combination of astute capacity management and stable fuel prices has enabled the global aviation industry to remain profitable for
      463 words
    • Article, Illustration
      Lock icon Inequality and our economic destiny
      773 22  -  THE BOTTOM LINE J BRADFORD DELONG The writer, a former deputy assistant secretary of the US Treasury, is professor of economics at the University of California at Berkeley and a research associa te at the National Bureau for Economic Research Project Syndicate BY any economic
      Project Syndicate  -  773 words
    • Article, Illustration
      Lock icon A president must show willingness to fight
      1032 22  -  Just like Lyndon Johnson, who then overcame stalling attempts in Congress for his plans LEON HADAR Washington Correspondent THE stalemate between the White House and Capitol Hill has dominated the policy and legislative processes in Washington. A powerful coalition of conservative lawmakers has
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      Lock icon Strong base for financial reporting
      1016 23  -  S’pore system sits on a sturdy enough foundation to weather unexpected bad publicity and reports on companies By LIM AI LEEN The writer is executive director of the Technical Knowledge Centre and Quality Assurance, Icpas CONFIDENCE in financial reporting system takes a beating each time
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    • Article
      Lock icon Eurozone equities on the rise again
      935 23  -  By THORSTEN WINKELMANN The writer is director, senior portfolio manager for European Equities. He manages the Allianz Europe Equity Growth fund, Allianz Global Investors RELENTLESS monetary-policy support to the crisis-shaken euro-area financial system and a solution to the political crisis in Italy, where Enrico
      935 words
    • LETTERS TO THE EDITOR
      • Article
        Lock icon Weak e-govt services hit productivity
        694 23 THE article “Singapore stumbles slightly on road to reinvention” (BT, May 30) highlights the fragility of our national productivity campaign. It seems to me that since IT is ubiquitous, the declines cited are at least in part due to our weak approach to IT services
        694 words
      • Article
        Lock icon What’s wrong with a ‘one-off capital gain’?
        238 23 What’s wrong with a one-off capital gain’? I REFER to the letter “No plans to corporatise or list any of the 12 NTUC social enterprises” from the CEO-designate of NTUC Enterprises (BT, May 31) and appreciate the prompt response to my letter. I cannot understand his comment: “While members may
        238 words
      • Article
        Lock icon Put service before profits for public services
        113 23 I REFER to the letter “No plans to corporatise or list any of the 12 NTUC social enterprises” from the group CEO-designate of NTUC Enterprises (BT, May 31), which gave the rationale for not planning to list any of the 12 NTUC social
        113 words
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      103 23 HAVE YOUR SAY Fax your letters to 6319-8277 or email them to btletter@sph.com.sg or write to: The Business Times, SPH HQ, 1000 Toa Payoh North, Podium Level 3, Singapore *****4. We need your full name, address and telephone number for verification. Please use temperate language, and bear in mind libel
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  • Article
    Lock icon SHIPPING TIMES
    1505 24 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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      84 24 Shipping lines I Can they seeking reliable I find your Igqistittpartners! “the I Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 The Business Times MIL UUJIHUJ IIIVILJ Shipping times PLACE YOUR AD HERE .The Business Times Shipping Times CALL JOE WONG AT 9620 1327 PLACE YOUR AD HERE
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      3283 25 Transaction date: Jun 3 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 Day Last Quote 10.4 7 AEM --AAT C'vr 188 106 AIMSAMPIReit 160.5 -4 1889 164.5 159.5
      3,283 words
    • Article
      Lock icon SGX CATALIST
      259 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 Last Vol 2.4 1.3 t Advanced System 1.6 unch 3643 1.7 1.6 1.5 1.6 25.4 Last Quote Div Gr Yld Net M Cap High
      259 words
    • Article
      Lock icon UNIT TRUST & FUNDS
      10852 26 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Asset Mat Pte Ltd APS Alpha FundCl A!** Aberdeen Asset Mgt Asia Limited Aberdeen Asset Mat Asia Limited Asian Smaller Cos!' ....2.1001/ EM local Ccy Bond 0988/ European Opportunities!" 1.2143/ Global Emerging Markets!" Global Opportunities/" 1 97/ ...*****/ Global
      10,852 words
    • Article
      Lock icon GLOBALQUOTE
      258 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 49.1 25 AVJennings A42.5 -1.5 13 42.5 42.5 40.5 42.5 3.6 8.2 3.5 154.9 52 30 Genting HK US$ US48.5 -1.5 4314 49.5 48.5 48.5 49 3193.5
      258 words
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      Lock icon SGX ETF
      971 26 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 126 107.1 ABF SG Bond ETF 118.8 -0.2 2 118.8 118.8 118 118.8 542.3 143 120.4 CIMB APAC Div 100S$D 138 -5 2 138.7 138 137
      971 words
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      636 27 Jun 3 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.36 *****.87 *****.82 Jun13 *****.00 *****.00 *****.00 *****.00 *****5 *****8 Sep13 *****.00 *****.00 *****.00 *****.00 4507 ***** MSCI TAIWAN INDEX FUTURES SPOT 293.06 294.13 291.28 Jun13 294.60 294.80 289.20 292.50 ***** *****4 Jul13 288.00
      636 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 27 In local curr In S$ In US$ dy yr dy yr dy yr May 31 Index Change Change Change Change Change Change World Preliminary 1071.2 -0.3 14.2 -0.2 14.8 -0.5 10.9 EAFE Preliminary 877.3 -0.7 13.3 -0.9 9.9 -1.2 6.1 Europe Preliminary 1257.2 -1.0 9.6
      373 words
    • Article
      Lock icon INTERBANK CROSS RATES
      471 27 Jun 3 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.998 5.911 0.740 7.484 54.585 94.597 0.966 10.876 2.987 1.209 94.935 40.543 1.213 9.674 0.921 28.979 29.351 0.632 0.964 Canada 1.002 5.920
      471 words
    • Article
      Lock icon SIBOR
      68 27 Jun 3 (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$) 0.***** 3 mths 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths 0.***** SWAP Mid
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    • Article
      Lock icon PRECIOUS METALS
      135 27 Jun 3 GOLD(US$/oz) May 31 Jun 03 Hong Kong 1423.00 1409.00 May 30 May 31 London 1415.09 1392.36 1416.81 1393.13 Source: Thomson Reuters CAST BAR Jun 03 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 127 57 5gm 362 283 10gm 646 566
      135 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      86 27 Jun 3 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****X 05-Sep-13 0.25 6-Month BS*****H 29-Nov-13 0.27 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 99.9 5-Year N*****0T 0.5 01-Apr-18 97.74
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    • Article
      Lock icon PALM OIL
      57 27 Jun 3 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 13 2353.0 2360.0 2360.0 2352.0 14 1207 Jul 13 2390.0 2390.0 2403.0 2383.0 4480 ***** Aug 13 2403.0 2396.0 2411.0 2388.0 ***** ***** Sep 13 2407.0 2397.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 27 Jun 3 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2127 1.2138 0.9638 0.9643 Canadian dollar 1.2147 1.2157 0.9658 0.9653 Euro 1.6399 1.6407 1.3033 1.3035 NZ dollar 1.0027 1.0036 0.7969 0.7973 Sterling pound 1.9203 1.9215 1.5261 1.5266
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    • Article
      Lock icon CHICAGO BOT
      109 27 May 31 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 13 1510.00 1495.75 1523.00 1494.25 Aug 13 1437.75 1426.75 1449.00 1426.50 Sep 13 1347.25 1334.25 1358.00 1334.75 Nov 13 1304.25 1289.25 1314.75 1288.75 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 13
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    • Article
      Lock icon LIFFE
      95 27 May 31 COCOA (£/tonne) Close Prev High Low Jul 13 1491 1500 1506 1490 Sep 13 1496 1505 1509 1495 Dec 13 1497 1505 1510 1497 Mar 14 1495 1503 1507 1494 COFFEE(US$/tonne) Close Prev High Low May 13 1844 1844 1848 1848 Jul 13 1893 1884 1896 1872
      95 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1064 27 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Cooo) Conv AlliedTech W*****2 Exer Asiatravel.com HoldingsW*****7 1 1 25 13 Asiatravel.com HoldingsW*****5 2.2 1 27 37 Disc Best World Intl Ltd W*****5 1.5 1 30 54 13.67 1 BiosensoBPeCW*****2 ing
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    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 27 CRUDE OIL PRODUCTS May 31 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 101.11 -1.19 WTI (Near Mth) 91.81 -1.84 Dubai (1-Mth F) 98.91 -0.19 Tapis blend 105.55 0.02 Minas 99.25 0.02 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 93.61 -0.56 Jet Kerosene 114.23 -1.07 US$/barrel OpecOil Basket
      70 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      22 27 Jun 3 S$ Bid Offer 1-month 1.2583 1.2587 2-months 1.2582 1.2587 3-months 1.2582 1.2587 6-months 1.2579 1.2590 Source: OCBC
      22 words
    • Article
      Lock icon LONDON METALS
      66 27 May-31 May-31 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1877.75 1876.00 3 months 1906.00 1907.00 Copper, Grade A(US$/tonne) Cash 7280.75 7286.75 3 months 7309.00 7317.00 Lead(US$/tonne) Cash 2207.50 2176.00 3 months 2201.00 2172.00 Nickel (US$/tonne) Cash *****.00 *****.50 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 27 As at 9am Jun 03 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.241 1.182 Can dollar 1.240 1.193 Euro 1.677 1.598 Sterling pound 1.955 1.880 NZ dollar 1.028 0.989 US dollar 1.288 1.227 Local dollars to 100 units of foreign
      121 words
    • Article
      Lock icon INTERBANK RATES
      157 27 Jun 3 $S Offer Bid 0vernight 0.03 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.05 US$ 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
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  • PROPERTY
    • Article, Illustration
      Lock icon US$1.3b sale of NY office tower sets new record
      942 28 Price driven by the 75,000 sq ft of retail space in prime tourist, office area Bloomberg [NEW YORK] Carlyle Group LP’s US$1.3 billion deal to sell 650 Madison Avenue will set a record based on the per-square-foot price for the office
      Bloomberg; PHOTO: BLOOMBERG  -  942 words
    • Article
      Lock icon Aussie home prices drop for 2nd straight month
      206 28 Reuters [SYDNEY] Home prices in Australia’s major cities dropped for a second straight month in May as consumers turned more cautious despite a cut in interest rates to record lows, an industry survey showed yesterday. Figures from property consultant RP Data-Rismark showed
      Reuters  -  206 words
    • Article, Illustration
      Lock icon Lower price gains for London luxury homes
      578 29 Central London values in smallest annual rise since December 2009 Bloomberg [LONDON] Central London luxury-home values had the smallest annual increase last month since December 2009 on a decline in the Knightsbridge area, site of Christian Candy’s One Hyde Park complex, Knight Frank
      Bloomberg; PHOTO: BLOOMBERG  -  578 words
    • Article
      Lock icon German landlord to buy 7,000 Berlin flats
      704 29 Bloomberg [BERLIN] German landlord GSW Immobilien plans to take advantage of Berlin’s booming housing market by purchasing as many as 7,000 apartments this year, chief executive officer Bernd Kottmann said in an interview. GSW, the biggest publicly traded owner of Berlin homes, said
      Bloomberg  -  704 words
    • Article, Illustration
      Lock icon GCB transactions making a comeback
      1071 30  -  Recent deals include Simon Cheong’s home which he is selling for $42.5m By KALPANA RASHIWALA THE freeze in the Good Class Bungalow (GCB) market appears to be thawing, with a few sizeable transactions done lately. Simon Cheong, the boss of high-end developer SC Global, is
      1,071 words
    • Article
      Lock icon China home prices rise for 12th straight month
      283 30 Reuters [BEIJING] Average home prices in China’s 100 biggest cities rose for the 12th straight month in May, a private survey showed yesterday, though the pace of increase slowed in a sign that government steps to cool the property market may be
      Reuters  -  283 words
    • Article, Illustration
      Lock icon Jewel@Buangkok draws strong response
      277 30 [SINGAPORE] City Developments Limited’s (CDL) 616-unit Jewel@Buangkok drew strong sales over the weekend, with 203 of the 280 units released by the developer snapped up. The average selling price of the apartments was about $1,150 per square foot, which includes an early-bird discount, said CDL. Singaporeans
      277 words
    • Article
      Lock icon Construction sector crucial in co-piloting ‘soft-landing’: Khaw
      349 30  -  By NG ZHUO YANG THE engineering of a “softlanding” in Singapore’s housing market requires the construction sector to play its part as well, wrote National Development Minister Khaw Boon Wan yesterday on his blog, Housing Matters. Earlier yesterday, the minister witnessed the handover
      349 words
    • Article
      Lock icon Strong demand boosts office rents in Jakarta
      654 30 Rents in Indonesian capital forecast to rise as much as 25% Bloomberg [SYDNEY] Office rents in Jakarta are surging at rates faster than the rest of the Asia-Pacific region, as demand from companies in South-east Asia’s biggest economy outpaces the supply of new
      Bloomberg  -  654 words
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      97 28 AFFORDABILITY CALCULATOR Helps you determine how much loan you can get based on your budget for monthly payments. www.stproperty.sg/property-tool Key in your budget for monthly property payments Choose your loan tenure and interest rate Financing Tools AFFORDABILITY CALCULATOR Monthly Budget Loan Tenure Monthly Budget 3.5 O Maximum Loan: $445,390 O
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      120 29 O E? FOR sale by tender Real value in a changing world HOUSE OF TAN YEOK NEE Jones Lang LaSalle Property Consultants Pte Ltd CEA Licence No. L*****26E www.joneslanglasalle.com.sg Grow Your Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices MATS NOTICES CLA/FEB1 1/g immerse
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      193 29 FREEHOLD INDUSTRIAL REDEVELOPMENT SITE BARTLEY RESIDENCES (U/C) TIMES Sf FUJIFILM BUILDING CENTRE BARTLEY (CC12) Site area 2,523.3 sqm approximately 27,160 sq ft Masterplan 2008 zoning “Business 1” Plot Ratio 2.5 Regular and Elevated Plot Close proximity to Bartley MRT Station Easy accessibility via Pan Island Expressway (PIE) and Kallang Paya
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      147 29 FOR SALE: 35 Tuas View Crescent DTZ Property Network Pte Ltd Estate Agent Licence No.: L*****60A Subject property located Tuas View Crescent Possible projected berthing port and container park zone around 2030 Part 1 part 3-storey Detached Industrial Warehousing premises Land: 172,209.48 sqft B2 zone uses (subject to JTC) Tenure:
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