The Business Times, 1 July 2013

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Total Pages: 28
1 28 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Monday, July 1, 2013
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  • 856 1 Chinese president’s remarks signal slowing economic expansion ahead Bloomberg [SHANGHAI] China’s President Xi Jinping said that officials should not be judged solely on their record in boosting gross domestic product (GDP), the latest signal that policymakers are prepared to tolerate slower economic expansion.
    Bloomberg; PHOTO: AP  -  856 words
  • MARKETS DIGEST
    • 57 1 Weekly Change ST INDEX 3,150.44 +25.99 KL COMP 1,773.54 +17.69 NIKKEI 225 13,677.32 +447.19 HANG SENG 20,803.29 +539.98 SET INDEX 1,451.90 +51.40 JAKARTA COMP 4,818.90 +303.53 MANILA COMP 6,465.28 +283.11 SEOUL COMP 1,863.32 +40.49 SHENZHEN B 775.94 -9.00 MUMBAI IND 19,395.81 +621.57 DOW 14,909.60 +110.20 NASDAQ 3,403.25 +46.00 S&P
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    • 23 1 For breaking news, go to businesstimes.com.sg. For personal finance stories, go to btinvest.com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838.
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    • 22 1 SINGAPORE MALAYSIA HONG KONG HONG KONG 6.55 5.00 INDONESIA 13.227 TAIWAN 5.036 US 1.475 CANADA 9.33 BRITAIN 0.50 Source: Bloomberg
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    • 49 1 US$ S$ US$ (S$ per US$) 1.263 (US$/S$ per 1.525 1.926 EURO (US$/S$/E) 1.305 1.648 Foreign currency per US$ S$ YEN 98.80 78.30 RM 3.169 2.509 HK$ 7.757 6.141 BAHT 31.00 24.54 RUPIAH 9,925 7,858 RENMINBI 6.142 4.863 INDIAN RUPEE 59.50 47.11 A$ 1.084 0.855 NZ$ 1.280 1.013
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  • 879 1  -  Step was taken after the group delisted from the stock market in March By FELDA CHAY [SINGAPORE] SC Global has managed to cancel the qualifying certificates (QCs) that were issued to its developments after it delisted from the stock market in March, saving
    879 words
  • Page 1 Advertisements
    • 91 1 YOUNG INVESTORS’ FORUM Taking stock of a universal sector PAGE 10 DINING OUT Blend of tradition and modernity PAGE 21 VIEWS FROM THE TOP Tackling the haze PAGES 8-9 BizIT COMMENTARY More than just Surface problems PAGE 27 *****1 *****4 OYSTER PERPETUAL COSMOGRAPH DAYTONA IN I 8 CT WHITE GOLD
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    • 11 1 What the QC and ABSD policies mean for developers, Page 2
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  • TOP STORIES
    • 392 2  -  Fear is that recovery won’t last if fund managers are forced to sell into rallies By NEIL BEHRMANN in London RECORD outflows from emerging market and highyield “junk” corporate bond funds are warning signals that market rallies won’t last. An analysis of EPFR
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    • 389 2  -  By FELDA CHAY The Qualifying Certificate (QC) policy UNDER the Residential Property Act, a “Singapore company” is a firm incorporated in Singapore whose shareholders and directors are all Singapore citizens. Firms whose shareholders and directors include some foreigners are considered foreign
      389 words
    • 468 2  -  &SH REUTERS BREAKINGVIEWS By and GEORGE HAY, NEIL UNMACK [LONDON] Europe’s shiny new bank bail-in regime looks like the perfect tool for previous banking crises. The agreement reached last week by European leaders would force shareholders and creditors to swallow losses of
      PHOTO: AFP  -  468 words
    • THREE-MINUTE DIGEST
      • 74 2 CHINA’S President Xi Jinping said that officials should not be judged solely on their record in boosting gross domestic product, the latest signal that policymakers are prepared to tolerate slower economic expansion. The Communist Party should instead place more importance
        74 words
      • 53 2 SC GLOBAL has managed to cancel the qualifying certificates that were issued to its developments after it delisted from the stock market in March, saving millions of dollars it would otherwise have to pay for failing to meet the sales deadline under the
        53 words
      • 63 2 RECORD outflows from emerging market and high-yield “junk” corporate bond funds are warning signals that market rallies won’t last. An analysis of EPFR Global and Bank of America Merrill Lynch shows that outflows from emerging market debt funds in the week ending June
        63 words
      • 71 2 SINGAPORE merger and acquisition volumes fell in the second quarter and first half of 2013, but bankers see private equity and cross-border deals populating a decent pipeline in the absence of 2012’s monster takeovers. Overall M&A deals involving Singapore buyers and targets fell 37.5
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      • 70 2 LAST week, several Federal Reserve speakers delivered the same message to markets: “Calm down and stop selling stocks and bonds. We’re not going to do anything drastic.” The central bankers were pushing this message because Treasury and mortgage-bond yields had
        70 words
      • 43 2 PRE-SCHOOL operators may be heartened by the government’s commitment to increase the quality, affordability, and number of childcare centres here, but some players question whether there are even enough teachers to support such an ambitious expansion plan.
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      • 88 2 MALAYSIA’S ringgit had its worst month since May 2012 as the prospect of the Federal Reserve phasing out stimulus that has boosted the supply of dollars cut demand for the nation’s assets. The currency touched the weakest level in almost
        88 words
    • 855 3  -  But bankers see PE, cross-border deals populating a decent pipeline By KENNETH LIM [SINGAPORE] Singapore merger and acquisition (M&A) volumes fell in the second quarter and first half of 2013, but bankers see private equity and cross-border deals populating a decent pipeline in
      PHOTO: BLOOMBERG  -  855 words
    • 913 3  -  But they are unlikely to calm down as volatility is expected WALL STREET INSIGHT By ROB CURRAN LAST week, several Federal Reserve speakers delivered the same message to markets: “Calm down, and stop selling stocks and bonds. We’re
      PHOTO: BLOOMBERG  -  913 words
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    • 300 2 GOOD GAINS Let your investors know by advertising your financial results in our newspapers. Call 1800 289 8822 or email notices@sph.com.sq. I crown myself with a quality education. It*s my choice. V >r~ Success means the world to us, but it does not come about overnight. It is the culmination
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  • Page 3 Advertisements
    • 60 3 The Singapore Personal Data Protection Act (PDPA) came into effect earlier this year, and allows individuals to register themselves under a Do Not Call Registry, which will begin next year. How should SMEs continue their marketing efforts without flouting rules under the PDPA? Find out from The SME Magazine, which
      60 words
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      83 words

  • COMPANY NEWS
    • 927 4  -  HOCK LOCK SIEW By LEE MEIXIAN SUPPLY gluts have driven dou-ble-digit declines in palm oil prices over the past year or so, but some now think the haze may present an opportunity for prices to recover. With harvesting hampered as a result of the
      PHOTO: BLOOMBERG  -  927 words
    • 286 4 Jun 28 BANKS Agricultural Bank Of China Agricultural Bank Of China ...5.50 Bangkok Bank Public Co. Ltd 6.00 Bank of China Limited Bangkok Bank Public Co. Ltd Bank of Communications 5.50 Bank of China Limited ...5.50 Bank of Communications Bank of Tokyo-Mitsubishi UFJ, Ltd ...5.75 Banque Internationale
      286 words
    • 322 4 COMPANY MEETING PLACE DATE TIME Darco Water Tech E Cliftons Singapore 108 Robinson Road Level 11 The Finexis Building 03-Jul 1.00pm We Holdings E 10 Ubi Crescent Ubi Techpark Lobby A Level 2 08-Jul 10.00am Far East Orchard A Antica 1 Level 2 Orchard Parade Hotel 1 Tanglin
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    • 264 4 CLOSING PRICES* (EXCLUDING ACCRUED INTEREST) GROSS REDEMPTION YIELD ($m) NUMBER OF DAYS OF ACCRUED INTEREST INTEREST PAYMENT DATES AMOUNT ($m) COUPON RATE GROSS YEAR RAISED ISIN CODE MATURITY DATE 01.02.2014 N*****0H 2012 1/4 2900.00 1/8 1/2 147 100.02 0.22 SG********** 01.07.2014
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    • 876 4 Payment Ex Rec Pay Ann (cts) date date date date A-Sonic Aerospace aw 0.170 30-Aug 03-Sep 17-Sep 16-May Aspial Corp ca 1.800 15-May17-May 03-Jul 12-Apr Ban Leong Tech ak 1.100 31-Jul 02-Aug 14-Aug 30-May Berger Int'l ak 0.280 03-Jul 05-Jul 25-Jul 06-May Boustead S'pore ca 3.000 31-Jul 02-Aug
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    • 1606 5  -  INSIDE MARKETS By ROBERT HALILI The writer is managing director, Asia Insider Ltd UYING among directors was high for the third straight week with 22 companies that recorded 45 purchases worth $33 million, according to filings on the Singapore Exchange from June 24 to 28.
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    • 142 4 ALMATY Beijing \V jr» Seoul Bangkok Kuala Lumpur Hong Kong Ho Chi Minh Beijing Almaty Hh' 5 times a week Kuala Lumpur Almaty 3 times a week Bangkok Almaty 7 times a week Seoul Almaty 2 times a week Ho Chi Minh Almaty 2 times a week Hong Kong Almaty
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    • 25 4 HOT IPO Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. 0 WATS NOTICES CLA/30MAR05/GAN
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    • 21 5 Discover Greener Pastures Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices NOTICES I CLA/FEB1 1/g
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    • 310 5 TAKE A BITE FROM THE TREE OF KNOWLEDGE INVESTOR EDUCATION FOR PROFESSIONALS BY PROFESSIONALS Visit www.spdrs.com.sg/SPDRU We all know how important knowledge and information are when it comes to making the best investment decisions. State Street Global Advisors (SSgA) SPDR® ETFs, the pioneer in exchange traded funds (ETFs), has launched
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  • SINGAPORE MARKETS
    • 676 6  -  STOCKS R SIVANITHY Senior Correspondent AFTER last week’s rebound, it’d be tempting to think that it’ll be business as usual again this week. Or maybe that should be “business as unusual”, since the rebound was motivated by hopes that the US economy will remain weak
      676 words
    • 522 6 CURRENCIES Bloomberg [MUMBAI] Asian currencies advanced last week, snapping a twoweek slump, on speculation that the Federal Reserve will hold off from paring asset purchases after US firstquarter growth trailed an earlier estimate. The world’s largest economy expanded 1.8 per
      Bloomberg  -  522 words
    • 1437 6 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price AIMS AMP Capital Ind REIT 2.00 2.00 4 9.53 17.22 1.87 1.64 Amtek Engineering Ltd 3.33 3.25 3 0.05 7.44 0.54 0.48 ARA Asset Management Ltd 2.57
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    • 4 6 WEEKLY
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    • 72 6 Jun 28 VALUE CLOSE BT OB/OS -183.00-119.00 BT CADI -*****.00 +97.00 BT 10-day MA -*****.00 -19.00 FTSE ST Mid Cap 750.71 +9.71 FTSE ST Small Cap 562.08 +2.31 FTSE ST All Share 772.67 +7.97 FTSE ST China Top 194.68 +1.08 FTSE ST China 226.28 +2.14 FTSE ST
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    • 55 6 VOLUME Innopac 619,536,000 Enviro-Hub 441,535,000 Golden Agri 298,560,000 Mirach Energy 292,225,000 St James 251,233,000 WE Hldgs 221,388,000 CNA 208,809,000 IPCO Intl 197,947,000 Cedar 191,710,000 NexGenSCom 181,663,000 VALUE($) SingTel 655,832,668 DBS Grp 471,248,778 UOB 365,813,202 OCBC Bk 320,403,608 CapitaLand 314,678,898 Keppel Corp 238,348,864 Wilmar 211,536,000 GLP 205,901,878 JMH
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    • 522 6 COM MO DITIES AFP [LONDON] Gold tumbled last week close to a three-year low under US$1,200 per ounce, hit by receding inflation fears, upbeat US data, a strong dollar, and expectations of an end to the Federal Reserve’s quantitative easing (QE) stimulus. Other
      AFP  -  522 words
    • 106 6 BY CENTS CLOSE UP JMH 6050 175.5 2.4 DBXT MSINDO 10us$ 1553 161.7 9.0 DBXT MSTHAI 10US$ 2074 159.1 6.5 Jardine C&C 4251 131.0 3.2 DBXT MSAsExJp 10US$ 3077 97.2 2.6 UOL 672 62.0 10.2 CIMBAsean40 100US$ 1091 56.8 4.3 IS S&P500 ***** 50.5 0.2 SuperGroup 445 48.0 12.1
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    • 125 6 BY CENTS CLOSE DOWN DBXT AUDCS 5SG$ *****-1288.0 -5.0 GLD 10US$ *****-1159.0 -7.3 DBXT iBoxxUSTr 5US$ ***** -726.2 -2.8 DBXT AUD Bonds 5AU$ ***** -590.5 -2.7 DBXT iBoxxSing 5SG$ ***** -568.0 -4.3 DBXT MSEurope 10US$ 4805 -265.2 -4.2 JSH 3630 -161.7 -3.4 DBXT FTVietnam 10US$ 2238 -155.3 -5.2 DBXT
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    • 5 6 WEEKLY
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  • SINGAPORE NEWS
    • 585 7  -  Operators say more training schemes needed to attract more to be teachers By PRE-SCHOOL KELLY TAY PRE-SCHOOL operators may be heartened by the government’s commitment to increase the quality, affordability, and number of childcare centres here, but some players question whether there are even
      ST FILE PHOTO  -  585 words
    • 559 7  -  Young artists invited to submit marine art for display, auction By FELDA CHAY THE deep blue sea with its living community has been the source of everything from food to inspiration for movies such as Jaws and the more kid-friendly Finding Nemo. Now, it is being
      PHOTO: RWS  -  559 words
  • Page 7 Advertisements
    • 269 7 A STAR ALLIANCE MEMBER r'> THE BEST TIME TO VISIT a* 71 Ticketing from 1 July-15 July 2013 Departure from 1 July 30 September 2013 Book instantly at thaiairways.com.sg or contact your travel agent. For hotel packages, contact Royal Orchid Holidays (TA545) at Tel. 6767 6868 or visit royalorchidholidays.com.sg business
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  • VIEWS FROM THE TOP
    • 3762 8 THIS WEEK’S TOPIC What realistic and concrete steps should the leaders of Singapore and its neighbours take to minimise, if not eliminate, the seasonal haze problem? How can businesses help? Seah Kian Peng CEO (Singapore) NTUC Fairprice Co-operative Ltd THE big solution is one word: diplomacy. That
      PHOTOS: BLOOMBERG, REUTERS; PHOTO: BLOOMBERG  -  3,762 words

  • Page 9 Advertisements
    • 12 9 A full list of views from CEOs is also available at http://businesstimes.com.sg
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    • 164 9 KEEP YOUR WATCH MOVING! BOXY WATCH WINDERS THE AFFORDABLE ACCESSORY FOR YOUR AUTOMATIC TIMEPIECES BOXY DESIGN 1 SET OF 12 BRICKS WITH WOODEN HOUSING ADAPTOR BOXY QUAD WATCH WINDER THE THREE-PRONGED APPROACH: Operated by the silent winding Mabuchi Japanese motor. Offering three rotational options: clockwise, anti-clockwise or bi-directional. •Adaptors have
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  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 1755 10  -  Consumer services sector stocks represent a wide range of product lines that interact with all levels of household income, says GEOFF HOWIE The writer is SGX’s market strategist THE consumer services industry is one that almost everyone on the planet engages
      FILE PHOTOS  -  1,755 words
  • Page 10 Advertisements
    • 157 10 Get started now Be a young investor DO you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to
      157 words

  • MALAYSIA/INDONESIA
    • 462 11 Ringgit declines 2.1%; Fed’s tapering move cuts demand for nation’s assets Bloomberg [KUALA LUMPUR] Malaysia’s ringgit had its worst month since May 2012 as the prospect of the Federal Reserve phasing out stimulus that has boosted the supply of dollars
      Bloomberg; PHOTO: BLOOMBERG  -  462 words
    • 346 11 Reuters [KUALA LUMPUR] Malaysia’s largest independent power producer Malakoff, a subsidiary of MMC Corp, will spend A$130 million (S$150.6 million) to acquire a 50 per cent stake in an Australian wind farm from New Zealand’s Meridian Energy. The deal comes with an
      Reuters  -  346 words
    • 1443 11 VOL Jun 28 RM +/-(‘000) Abric Bhd (’000) Advance Synerg 0.15 unch 262 Adventa Bhd -0.04 Ae Multi Hldgs 0.21 unch 19 Affin Holdings 4.36 0.28 2403 Ahmad Zaki Res 0.83 -0.02 330 Airasia Bhd 3.19 0.11 ***** Alliance Finan Advance Synerg Aluminium Co 0.70 unch 10 Amalgamated
      1,443 words
    • 236 11 Bloomberg [JAKARTA] Tin sales from Indonesia, the world’s largest supplier, may decline to the lowest level in seven years as the country raises purity standards for shipments, increasing the global deficit and boosting prices. Exports will probably drop 20 per cent
      Bloomberg  -  236 words
    • 430 11 Global funds cut holdings of government debt Bloomberg [JAKARTA] Indonesia’s bonds have completed the worst quarter since 2008 after foreign investors cut holdings of the nation’s debt on concern that inflation will accelerate and the Federal Reserve will pare its stimulus. Global funds
      Bloomberg  -  430 words
  • Page 11 Advertisements
    • 113 11 ANNIVERSARY MEN’S HEALTH TURNS 10! f 100% USEFUL! L Mens FASTER! STRONGER! LEANER! GET MILITARY MUSCLE IN JUST 6 WEEKS! P110 DRINK BEER LONGER F WHY CALCIUM CAN HURT YOUR HEART FIND OUT ON P22 HEALTHDIY WHATYOURPEE IS TELLING YOU SINGAPORE WensHeallh ANNIVERSARY 1 mi V THE MAN U DFSTEEL
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  • GREATER CHINA/INDIA
    • 855 12 Central bank move not impeding corporate lending for now: bankers Re uters AP [SHANGHAI] The move by China’s central bank to squeeze funds out of the money market, forcing banks to borrow money at historic interest rate levels, appears to have been calculated to
      Reuters; AP; PHOTO: BLOOMBERG  -  855 words
    • 302 12 Reuters [MUMBAI] India’s central bank has imposed restrictions on debt sales by non-bank financial companies (NBFCs), cracking down on issuance by an industry that has less regulatory oversight than banks and relies heavily on capital markets to fund its business. Under the
      Reuters  -  302 words
    • 514 12  -  Combined liabilities of 36 local govts hit 3.85t yuan By SC YEUNG EJ Insight [HONG KONG] China is stepping up efforts to manage the risks related to local government debts as an audit has raised new questions and sparked fresh concerns about the growing
      EJ Insight  -  514 words
    • 740 12 Bloomberg [NEW DELHI] India is burning coal in power plants at the fastest pace in 31 years. At the same time, domestic supplies of natural gas that are the main alternative are falling at the quickest rate in
      Bloomberg; PHOTO: REUTERS  -  740 words
  • Page 12 Advertisements
    • 205 12 w 'O' SH>Rll:.«Mi»KWl<Hlit I. /w n r> yV i.Many people trade in stocks but how many can enter a trade with confidence and achieve profits consistently? In an increasingly uncertain and volatile investment environment, picking the right stock, entering at the right level and having the discipline to walk away
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  • ECONOMY WATCH
    • 657 13 Impact of Fed-led tightening stretches from dollar bonds to domestic debt Reuters [LONDON] A firmer dollar and rising US yields are fuelling a steady increase in money market rates across emerging economies where many central banks could be forced to raise interest rates
      Reuters  -  657 words
    • 526 13 Re uters [OTTAWA] Forecast modelling is not all it’s cracked up to be, Canada’s new central bank chief says. So he’s employing a new tool: talking to “real people”. And the real people of most interest to Stephen Poloz are Canada’s corporate
      Reuters  -  526 words
    • 294 13 AFP [WASHINGTON] Ratings agency Fitch kept its AAA credit rating for the United States on a negative outlook, despite improvements in Washington’s fiscal picture. Fitch said the country still merited the top-level triple-A rating due to its “strong economic and credit fundamentals”, underpinned
      AFP  -  294 words
    • 620 13 Canadian Mark Carney starts as governor today AFP [LONDON] Canadian Mark Carney begins his job as governor of the Bank of England (BOE) today, joining an institution divided on whether to pump out more cash stimulus to boost Britain’s fragile economic recovery. Mr Carney,
      AFP; PHOTO: REUTERS  -  620 words
  • Page 13 Advertisements
    • 1215 13 M DEVELOPMENT LTD. (Company Registration No. *****1764D) (Incorporated in the Republic of Singapore) NOTICE OF EXPIRY OF WARRANTS W*****2 (THE “W*****2 WARRANTS”) TO: ALL HOLDERS OF THE W*****2 WARRANTS TO SUBSCRIBE FOR NEW ORDINARY SHARES IN M DEVELOPMENT LIMITED (THE “COMPANY”) THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION.
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  • WORLD
    • 892 14 Report in German weekly is likely to further strain ties between US, Europe AFP Reuters [BRUSSELS] The European Union (EU) angrily demanded answers from the United States yesterday over allegations Washington had bugged its offices, the latest spying claim attributed to
      AFP; Reuters; PHOTO: AP  -  892 words
    • 269 14 Reuters [MADRID] Spanish lenders are bracing for lower profits and dividends and a tougher funding environment under new rules meant to prepare them for pan-European supervision next year and avoid a repeat of last year’s multi-billion-euro bailout. Last Thursday, the Bank of Spain
      Reuters  -  269 words
    • 611 14 Move comes amid new row with the Philippines Reuters [BANDAR SERI BEGAWAN] China yesterday agreed to hold formal talks with South-east Asian nations on a plan to ease maritime tensions as the Philippines accused it of causing “increasing militarisation” of the South China
      Reuters  -  611 words
    • 505 14 Reuters [SILVERSTONE] Germany’s Nico Rosberg won a dramatic British Grand Prix for Mercedes yesterday after one of several explosive tyre failures scuppered team mate Lewis Hamilton’s hopes of home victory. On an afternoon that also saw triple world champion Sebastian Vettel’s Red Bull break down
      Reuters; PHOTO: AFP  -  505 words
    • 884 15 Absence of gold rush suggests that prices may have much further to fall Reu ters [LONDON] In April, after gold dived more than US$200 an ounce in two days, an unprecedented scramble to buy everything from coins to jewellery at “bargain”
      Reuters; PHOTO: BLOOMBERG  -  884 words
    • 314 15 Nation’s 1b euro debt swap seen as distressed exchange AFP [NICOSIA] Cyprus’s bond ratings have been downgraded by Standard Poors Ratings Services and Fitch following Nicosia’s announcement that it would swap one billion euros (S$1.65 billion) in local bonds for longer maturities. On
      AFP  -  314 words
    • 856 16 Organised criminal networks drawn by potential for big profits: research firm NYT [LONDON] European investigators have uncovered thousands of cases of food fraud, raising fresh questions about regulatory oversight as criminals offer bar-gain-hunting shoppers cheap versions of everyday products, including counterfeit chocolate and adulterated
      NYT; PHOTO: JENNIE KENDALL/HMRC VIA THE NEW YORK TIMES  -  856 words
    • 489 16 Reu ters [WASHINGTON] Twen-ty-two of US President Barack Obama’s top advisers make the top White House salary of US$172,200 per year but there is one official who earns 30 per cent more. It’s not Chief of Staff Denis McDonough. Not Mr Obama’s
      Reuters  -  489 words
    • 921 16 Cabinet okays 20% reduction in rice-purchase prices WP [BANGKOK] Thai Prime Minister Yingluck Shinawatra risks a backlash from farmers who helped put her in power after cutting guaranteed rice prices following criticism that the programme put the country’s finances at risk. The
      WP; PHOTO: AP  -  921 words
    • 705 16 WP [WASHINGTON] The Securities and Exchange Commission (SEC) is cracking down on municipalities that it suspects of hiding information from investors when they sell bonds to them, with more cases expected to be announced in the coming months. The effort reflects the agency’s frustration
      WP  -  705 words
    • 692 17 Shinzo Abe’s bid to revive deflated economy hinges on consumers splurging NYT [TOKYO] Daisuke Horii just collected his summer bonus. It was only slightly more than last year, but enough to compel the 34-year-old shopping mall clerk to go to Tokyo’s
      NYT; PHOTO: AP  -  692 words
    • 867 17 Ex-BP chief among advisers roped in to boost credibility NYT [LONDON] They were once the partners of the British oil giant BP, until that arrangement spun apart in turmoil and litigation. Now the Russian billionaires Mikhail Fridman and German Khan want to
      NYT  -  867 words
    • 247 17 Reuters [BERLIN] German Finance Minister Wolfgang Schaeuble hit out at Irish bankers caught on tape joking about a bailout, calling them “aloof superhumans” worthy of contempt. Mr Schaeuble’s remarks quoted by an edition of Frankfurter Allgemeine Sonntagszeitung published yesterday echoed comments by Chancellor Angela
      Reuters  -  247 words
    • 385 17 Bloomberg [SYDNEY] Kevin Rudd has overtaken opposition leader Tony Abbott as Australia’s preferred prime minister ahead of an election scheduled for Sept 14, according to a national poll of voters. Mr Rudd is the preferred choice for PM by 51 per cent
      Bloomberg; PHOTO: REUTERS  -  385 words
    • 733 18 Thursday’s meeting must rule out any reversal in interest rates in near future AFP [FRANKFURT] The European Central Bank’s main challenge at its monthly policy meeting this week will be to persuade markets that it has no plans in the foreseeable future
      AFP; PHOTO: AP  -  733 words
    • 459 18 Traders received data milliseconds earlier, made bets NYT [NEW YORK] Federal securities regulators have opened an inquiry into the media company Thomson Reuters Corp and how it releases closely watched manufacturing data to its trading clients, a move that highlights the government’s continued
      NYT; PHOTO: REUTERS  -  459 words
    • 781 18 Last year’s biggest was US$156m paid by ConocoPhillips NYT [NEW YORK] Most employees who leave a company are typically offered modest severance in some cases a corporate pension, and perhaps a retirement party hosted by co-workers. For many chief executives of
      NYT  -  781 words
    • 221 18 Reuters [NEW YORK] General Electric Co is looking to sell its CareCredit healthcare financing business a unit within its massive GE Capital financial arm in a deal that may be valued at about US$2 billion, people familiar with the situation told Reuters.
      Reuters  -  221 words
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  • Page 15 Advertisements
    • 139 15 Wine Challenge 2013 OMETIMES, BEING Labelled Works To Your Advantage. Especially if Your Wine Finds Favour With Our Panel Of CEOs. If you are a wine producer or distributor, submit your top Submit Your Entry Now Log on to www.BTInvest.com.sg for labels for this award and vie for recognition. 10
      139 words

  • Page 16 Advertisements
    • 711 16 m WATS NOTICES TITAN BUNKERING PTE. LTD. (COMPANY REGISTRATION NO. *****3184C) NOTICE OF SPECIAL RESOLUTION NOTICE IS HEREBY GIVEN THAT AT AN EXTRAORDINARY GENERAL MEETING OF THE COMPANY DULY CONVENED AND HELD ON THE 21ST DAY OF JUNE 2013 THE FOLLOWING SPECIAL RESOLUTION WAS PASSED: That pursuant to Section 290(1
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  • Page 17 Advertisements
    • 93 17 >®' WATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices '_`_}(<&@+/$"-..'_;!'=+<()~@@\' In the Matter of the Companies Act, Cap. 50 And In the Matter of CHUA HUAT HENG PTE. LTD. (In Liquidation) (Company No: *****2048R) NOTICE IS HEREBY GIVEN, pursuant to Section 308(2) of the Companies Act, Cap. 50, that the
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    • 639 17 SAFRA RADIO ON-AIR ONLINE ON-SITE ON TARGET TENDER NOTICE SAFRA Radio invites tenders for the: SUPPLY, DELIVERY, INSTALLATION, TESTING AND COMMISSIONING OF COMPUTER SYSTEM Tender documents at S$10.70 per set (GST inclusive) is obtainable from 1 JULY 2013, 9am at the following address. Tender documents must be duly completed and
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  • Page 18 Advertisements
    • 61 18 HOmB >ECOR SINGAPORE'S NO.1 INTERIOR DESIGN MAGAZINE PRESENTS THE LATEST IN LAMINATES, y Coverings tiles 9 INSPIRING RENO PROJECTS 2013 HOmE&DECOR RENQ HOTTEST S'DESIGN J A 4 E cS"now‘- > space planning for kitchens, bathrooms and walk-in wardrobes > latest furniture and lighting trends > laminates, tiles, wallcoverings and more!
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  • Page 19 Advertisements
    • 276 19 Best of Both Worlds THE BUSINESS TIMES SUBSCRIBE TODAY rp. DBT ONLINE DBT HOME DELIVERY c, STRATEGIES j. FOR ASIATHE BUSINESS TIMES Raffles Conversation g National Day Message V" teTcT 4M Mil THE BUSINESS TIMES 9 L THE BUSINESS TIMES $90_m kitty to I SMEs to scoop up bulk JW'{
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  • SHIPPING/AVIATION
    • 527 20 Ships larger than 5,000 tonnes must report annual carbon dioxide discharges Bloomberg [BRUSSELS] European Union regulators proposed monitoring greenhouse gases from ships starting in 2018 in a plan to encourage global curbs on maritime pollution tied to climate change. The draft law would oblige
      Bloomberg  -  527 words
    • 718 20 Shipping costs may rise as govt seeks to boost revenue Reuters [LONDON] Growing turmoil in Egypt is threatening to disrupt shipments through the Suez Canal and increase the costs for shipping lines as Cairo’s cashstrapped government seeks ways of bringing in revenue. Egypt’s economy has
      Reuters; PHOTO: REUTERS  -  718 words
    • 664 20 Reuters [BANGALORE] The outlook for the drybulk shipping market is brightening after a stormy four years, but only those shippers that managed to avoid getting swamped by debt are poised to take full advantage. Baltic Trading Ltd, Diana Shipping Inc and Navios Maritime Holdings
      Reuters  -  664 words
    • 534 20 Reu ters [WASHINGTON] The US Justice Department is taking depositions as part of a probe into a planned merger of American Airlines Inc and US Airways Group Inc that would create the world’s largest airline, three sources close to the discussions told
      Reuters  -  534 words
    • 237 20 SGX '000 Jun 28 S$ +/-Vol CH Offshore 0.42 0.01 136 Chuan Hup Hldg 0.25 unch 60 Cosco Corp 0.75 -0.01 1255 s$ Ezra Hldgs 0.94 0.01 2144 First Ship Lea 0.11 unch 250 Freight Links 0.09 unch ***** Grand Banks unch unch 0 Jaya Hold Ltd 0.59
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  • Page 20 Advertisements
  • Page 20 Miscellaneous
    • 351 20 CRYPTIC CROSSWORD Across 1 Old athlete lapping last in race, the very best (5) 4 Aquatic animal dad knocked over, put into casserole mainly (8) 8 School member entertaining southern European (8) 9 Rescind order to a barge (8) 11 US lawman hires scuffling pair of fellows (7) 13 Criminal,
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  • DINING OUT
    • 1061 21 A blend of tradition modernity JAIME EE checks out two chefs from opposite ends of the culinary spectrum who offer their own take on traditional South-east Asian cuisine with inspiring results NEW RESTAURANT Candlenut Kitchen #01-03 Dorsett Residences 333 New Bridge Road Tel: 6444-6163 Open for dinner 6pm to 10pm.
      ALL PHOTOS EXCEPT DURIAN ICE CREAM BY ARTHUR LEE  -  1,061 words
    • 989 21 NEW RESTAURANT Ding Dong 23 Ann Siang Road Tel: 6557-0189 Open 5.30pm to 12am Monday to Saturday. Closed on Sunday RYAN Clift is inadvertent fodder for the eye-rolling crowd with his latest F&B venture. In the same way that Singaporeans hope to see Gordon
      PHOTO OF INTERIOR BY JOSEPH NAIR  -  989 words

  • SINGAPORE STOCKS
    • 3331 22 Week ended: Jun 28 52-wks Last Vol Week Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Week Last Quote Div GrYld 188 106 AIMSAMPIReit M Cap High Low Company 75 55 ASL Marine (*000) High
      3,331 words
    • 253 23 52-wks Last Vol Week Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol Week 2.4 1.3 t Advanced System 1.4 unch 1107 1.4 1.4 1.4 1.5 22.3 Net M Cap High Low Company Sale ('000)
      253 words
    • 114 23 Stock name Close Change CapMallsAsia 1.825 +0.030 CapitaLand 3.080 +0.020 CapitaMall 1.995 +0.010 CityDev 10.700 +0.190 ComfortDelGro 1.835 +0.015 DBS Grp 15.500 GLP 2.750 +0.100 Genting SP 1.320 Golden Agri 0.560 +0.010 HK Land 6.870 +0.190 Stock name Close Change HPH Trust US$ 0.735 JMH 60.500
      114 words
    • 2069 23 Transaction date: Jun 28 HONG KONG Vol HK$ +/-'000 Aeon Credit 7.48 unch 50 Aeon Stores '000 Angang Steel 3.81 -0.09 ***** Anhui Conch Anhuiexpresswa 3.70 0.02 1766 Asia Satellite 27.60 -0.40 25 Asm Pacific -0.30 Bank Of E Asia 27.95 0.35 3250 Beida Jade Bir 0.32 0.01
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    • 264 23 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 49.1 25 AVJennings A43.5 unch 5 43.5 43 40 44.5 3.6 8 3.5 161.1 52 31 Genting HK US$ US44.5 -3 ***** 47 39 44 44.5 2930.1
      264 words
    • 186 23 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 9 7 0 0 0 0 9 7 0 Manufacturing 59 92 32 4 14 13 63 106 45 Commerce 26 35 15 5 8 3 31 43 18 Tpt/Stor/Comms 15 27 2
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    • 1044 23 52-Wk Last Vol Week Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 126 107.1 ABF SG Bond ETF Last 143 120.4 CIMB APAC Div 100S$D 127.7 -2.1 0 127.7 127.7 129.7 130.6 114.4 99 CIMB APAC Div 100US$
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    • 123 23 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 220,403 220,403 416,844 416,844 Manufacturing 1,633,310 594,307 2,227,617 916,652 38,224 954,876 Commerce 866,980 285,520 1,152,500 645,669 27,172 672,841 Tpt/Stor/Comms 561,085 177,844 738,929 1,119,669 64,854 1,184,523 Finance 763,311 493 763,804 1,339,341 218 1,339,559 Construction 512,045 173,584
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  • Page 23 Advertisements
    • 26 23 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES
      26 words

  • FINANCE & COMMODITIES
    • 625 24 Jun 28 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.92 *****.44 *****.70 Sep13 *****.00 *****.00 *****.00 *****.00 *****8 *****1 Dec13 *****.00 *****.00 *****.00 *****.00 1009 ***** MSCI TAIWAN INDEX FUTURES SPOT 281.52 289.37 281.52 Jul13 272.70 280.50 272.70 279.50 ***** *****5 Aug13 277.60
      625 words
    • 373 24 In local curr In S$ In US$ dy yr dy yr dy yr Jun 28 Index Change Change Change Change Change Change World Preliminary 1037.8 0.2 10.6 0.2 11.5 0.1 7.4 EAFE Preliminary 843.7 0.4 8.9 0.2 6.1 0.1 2.2 Europe Preliminary 1191.1 -0.5 3.8
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    • 471 24 Jun 28 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.970 5.689 0.710 7.185 55.110 91.930 0.916 10.576 2.935 1.186 91.912 40.014 1.170 9.223 0.876 27.834 28.709 0.607 0.926 Canada 1.031 5.865
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    • 66 24 Jun 28 (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$) 0.***** 3 mths 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths 0.***** SWAP Mid
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    • 137 24 Jun 28 GOLD(US$/oz) Jun 27 Jun 28 Hong Kong 1253.00 1218.50 Jun 28 Jun 27 London 1214.91 1227.90 1215.94 1228.65 Source: Thomson Reuters CAST BAR Jun 28 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 110 49 5gm 312 244 10gm 558 488
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    • 92 24 Jun 28 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 19-Sep-13 0.27 6-Month BS*****X 27-Dec-13 0.29 1-Year BY*****H 02-May-14 0.29 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-15 100.06 100.10 100.10 5-Year N*****0T 0.5
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    • 57 24 Jun 28 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 13 2368.0 2337.0 2370.0 2337.0 99 917 Aug 13 2360.0 2346.0 2380.0 2344.0 3432 ***** Sep 13 2358.0 2344.0 2376.0 2341.0 ***** ***** Oct 13 2351.0 2340.0
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    • 155 24 Jun 28 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1694 1.1704 0.9260 0.9265 Canadian dollar 1.2059 1.2064 0.9550 0.9548 Euro 1.6477 1.6482 1.3047 1.3048 NZ dollar 0.9865 0.9872 0.7811 0.7815 Sterling pound 1.9260 1.9269 1.5251 1.5254
      155 words
    • 109 24 Jun 28 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 13 1564.50 1548.50 1574.50 1538.00 Aug 13 1431.00 1432.50 1446.75 1411.75 Sep 13 1303.25 1317.75 1325.00 1296.25 Nov 13 1252.00 1275.25 1279.75 1247.00 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 13
      109 words
    • 95 24 Jun 28 COCOA (£/tonne) Close Prev High Low Jul 13 1440 1434 1446 1422 Sep 13 1458 1449 1464 1439 Dec 13 1469 1459 1473 1449 Mar 14 1467 1461 1470 1450 COFFEE(US$/tonne) Close Prev High Low Jul 13 1731 1729 1741 1707 Sep 13 1759 1745 1760 1723
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    • 1200 24 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 0.4 1 146 737 43.75 11 Conv Ratio Exer Price Prem Asiatravel.com HoldingsW*****7 0.2 -0.8 32 1 25 13 Asiatravel.com HoldingsW*****5 0.5 -1.5 32 1 27 37 Expiry
      1,200 words
    • 70 24 CRUDE OIL PRODUCTS Jun 27 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 103.02 2.14 WTI (Near Mth) 96.88 1.34 Dubai (1-Mth F) 99.29 0.94 Tapis blend 106.86 1.46 Minas 102.41 0.96 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 92.83 -0.09 Jet Kerosene 116.99 1.04 US$/barrel OpecOil Basket
      70 words
    • 22 24 Jun 28 S$ Bid Offer 1-month 1.2628 1.2631 2-months 1.2628 1.2633 3-months 1.2629 1.2634 6-months 1.2629 1.2636 Source: OCBC
      22 words
    • 65 24 Jun-28 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1729.75 1721.00 3 months 1773.00 1765.00 Copper, Grade A(US$/tonne) Cash 6731.00 6726.75 3 months 6750.00 6750.00 Lead(US$/tonne) Cash 2040.50 2042.50 3 months 2051.00 2052.00 Nickel (US$/tonne) Cash *****.50 *****.50 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months *****.00
      65 words
    • 121 24 As at 9am Jun 28 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.199 1.142 Can dollar 1.230 1.183 Euro 1.689 1.609 Sterling pound 1.967 1.892 NZ dollar 1.009 0.971 US dollar 1.292 1.231 Local dollars to 100 units of foreign
      121 words
    • 157 24 Jun 28 $S Offer Bid 0vernight 0.03 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.06 US$ 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 0.55 0.35 9 months 0.70 0.50 12
      157 words

  • Page 25 Advertisements
    • 437 25 The Business Times Shipping times Papua New Guinea Australia New Zealand New Caledonia Fiji all other Pacific Islands Dili (East Timor) Guam (Mariana Islands) Honolulu (Hawaii) SOUTH PACIFIC SERVICE W W W. N G P L J S P. C O M VESSEL VOY SIN NOU SUVA BUS MOTHER VESSEL
      437 words
    • 436 25 J e b e lA Shanghai■ LaemChabang■ Chittagong li Port Klang J e d d a h B r i s b a n e H a m b a n NYK RORO Conventional ServiceREGULAR SERVICE TO t o t a REGULAR SERVICE TO Persian Gulf, Bengal, Red Sea, Australia,
      436 words
    • 521 25 WALLENIUS WILHELMSEN LOGISTICS Tel: (65) 6379 5066 Fax: (65) 6379 5106 Email: 2wsinenq@2wglobal.com website: http://www.2wglobal.com AUSTRALIA NEW ZEALAND TO ASIA VESSEL VOY AKL BNE PKL MEL FRE SIN TAIKO CF318 16/06 18/06 21/06 27/06 04/07 TAMESIS FF326 19/06 24/06 28/06 03/07 09/07 TONSBERG FF327 24/06 28/06 30/06 02/07 08/07 15/07
      521 words

  • Page 26 Advertisements
    • 1155 26 Shipping Times TOLL MARINE LOGISTICS PERKINS SHIPPING (SINGAPORE) PTE LTD LOYANG OFFSHORE SUPPLY BASE, LOYANG CRESCENT, BLK 103, TOPS AVE 1, #08-01, SINGAPORE *****8. MAILBOX NO. 5013 CR NUMBER: **********0G OPERATOR CODE: PV WEEKLY CONTAINER CONVENTIONAL SERVICE TO EAST TIMOR NORTHERN AUSTRALIA VESSEL VOY ETA SIN ETD SIN ETA DILI
      1,155 words
    • 204 26 FOONG SUN SHIPPING (PTE) LTD INDONESIA SUMATRA PORTS VESSEL VOY ETA ETD DESTINATION BERJAYA 1 08/13 05/07 07/07 BELITUNG/PKL BALAM SRI JAYA 8 07/13 04/07 06/07 JAMBI/PEKAN BARU SINOPA 11/13 03/07 05/07 PALEMBANG/PANJANG SIANIRI 09/13 IN PORT 03/07 BENGKULU/PADANG FAJAR MAS 07/13 03/07 05/07 BELAWAN/LHOKSEUMAWE CARAKA JN322 07/13 08/07 10/07
      204 words


  • Biz IT THE BUSINESS OF INFOCOMM TECHNOLOGY
    • 804 28  -  Tablets and smartphones will lead the charge, according to new research by Gartner, writesAMIT ROY CHOUDHURY AMIT ROY CHOUDHURY Device shipments (which include personal computers, tablets and mobile phones) in the Asia Pacific ex-Ja-pan region (APEJ) are expected to grow 7.4
      804 words
    • 572 28  -  Explosive growth of data seen worsening storage problem By ADELINE TAN NON-VOLATILE memory (NVM) that can significantly boost performance while reducing power consumption will be the biggest disruptor for data centres, according industry leaders gathered at a roundtable held last week
      572 words
    • 1314 27  -  But Microsoft could still rescue its botched Windows campaign <we say> KENNETH JAMES ON the surface (no pun intended), Microsoft’s Wind ows 8 launched late October last year looked idiot-proof. It was designed to be the operating system (OS) to rule them all: not just
      PHOTO: AP  -  1,314 words
    • 759 27  -  By AMANDA TAN THANKS to the revolution in mobile computing and the rise of social media, companies are being forced to rethink the way they interact with their customers. Expanding on this point, Stewart Bloom, CEO of Aspect Software, told BizIT: “Think about a world where now
      759 words
    • 585 27 Bloomb erg [SAN FRANCISCO] Intel Corp chief executive officer Brian Krzanich is devoting more resources to processors for smartphones and tablets as he works to speed the transition to mobile chips amid a global personal-computer slump. The company will use
      Bloomberg  -  585 words
    • 746 27  -  Merged entity is fifth largest Indian ICT firm By AMIT ROY CHOUDHURY FOLLOWING the green light from the High Court of the Indian state of Andhra Pradesh in the first half of June, Tech Mahindra and Mahindra Satyam completed their merger last week, forming the
      746 words
  • Page 28 Advertisements
    • 375 28 Fujitsu recommends Windows 8. Powered by 3rd generation Intel® Core™ \1 processor. FUJITSU j LkJL-JL-JLJ 000 e a V AM la O m Y' V V' V V V V V* \\v- v v V V V v v- V V V Y V V V V V V-V V'
      375 words