The Business Times, 4 July 2013

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Microfilm: NL32655
Total Pages: 69
1 40 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MICA (P) 074/08/2012 Thursday, July 4, 2013
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  • Article, Illustration
    Lock icon Exchange for physical gold clicks into place
    772 1  -  It will allow retail customers to buy and sell bullion online By ANDREA SOH [SINGAPORE] Riding on the rush for physical gold in Singapore, an online trading platform for physical bullion investors has been launched here. In what it says is a first
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  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 HST INDEX 3,129.49 (-43.83) HST INDEX FUTURES 3,124.00 (-43.00) HSIMSCI 350.76 (-5.58) HSIMSCI FUTURES 349.00 (-5.60) US$ S$ US$ (S$ per US$) 1.274 (US$/S$ per 1.516 1.932 EURO (US$/S$/€ 1.293 1.647 Foreign currency per US$ S$ YEN 100.10 78.60 RM 3.190 2.504 HK$ 7.754 6.087 BAHT 31.09 24.40 RUPIAH
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    • Article
      Lock icon MARKETS
      48 1 Wednesday Change KL COMP 1,769.21 -2.68 NIKKEI 225 14,055.56 -43.18 HANG SENG 20,147.31 -511.34 SET INDEX 1,443.57 -20.41 JAKARTA COMP 4,577.15 -151.55 MANILA COMP 6,480.12 +31.94 SEOUL COMP 1,824.66 -30.36 SHENZHEN B 764.55 -7.99 MUMBAI IND 19,177.76 -286.06 12noon EDT Change DOW 15,007.96 +75.55 NASDAQ 3,449.09 +15.69
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    • Article
      Lock icon PRIME RATES
      20 1 SINGAPORE 5.38 MALAYSIA 6.55 TAIWAN 5.00 JAPAN 13.303 TAIWAN 5.036 JAPAN 1.475 SWITZERLAND 9.33 INDIA 0.50 Source: Bloomberg
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  • Article, Illustration
    Lock icon Portugal crisis brings back eurozone fears
    694 1  -  Bond yields soar and rattle markets while weak Greece comes back into frame BY London NEIL BEHRMANN in London A PORTUGUESE economic and political crisis jolted sanguine eurozone leaders and aggravated a global market slide precipitated by worries about China, emerging markets and the
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      140 1 SGX June trading activity suggests slowdown in momentum PAGE 5 MANUFACTURING S’pore PMI hits two-year high in June PAGE 2 A NEW GLOBAL VISION Singapore accountants up their game page 1 7 OPINION Reducing inequalities in healthcare PAGE 18 REAL ASSETS OUTLOOK What’s ahead amid potential shifts in monetary policy
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      126 3 www.vw. com. sg OFTEN COPIED, NEVER EQUALLED. A I NOB c 6/ t 1 New Golf GTI. Launch event at MacPherson Showroom this weekend. Newton never formulated a law for fun. He did however formulate laws for acceleration (the GTI goes from 0-100 km/h in just 6.5 seconds by the
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      40 4 d GO (t /a (ions .97/*v S'X cc//c/i cty Fausto Valle (EMBASSY OF THE REPUBLIC OF ECUADOR) on his appointment as Ambassador of Ecuador to Singapore on 27th June 2013 From: JURONG Consultants Pte Ltd A member of JURONG International
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  • COMPANY NEWS
    • Article
      Lock icon SGX trading momentum slows in June
      476 5  -  But activity robust compared with year-ago numbers By KENNETH LIM SINGAPORE Exchange (SGX) trading activity remained robust compared to the year-ago doldrums, but June numbers suggest a recent slowdown in momentum. Total traded securities volume in June was 48 billion shares, up 84 per
      476 words
    • Article
      Lock icon Intraco’s mandatory conditional cash offer for DCL lapses
      289 5  -  By ANDREA SOH TRADING company Intraco Limited’s mandatory conditional cash offer for its listed associated company Dynamic Colours has lapsed, as it did not have enough acceptances to make its offer unconditional. The cash offer of 18.5 cents per share for Dynamic
      289 words
    • Article
      Lock icon KXD gets final extension from SGX to submit resumption proposal
      549 5  -  By MICHELLE QUAH BELEAGUERED KXD Digital Entertainment has succeeded in buying itself some extra time for its attempts to get a new lease on life. The company announced yesterday that the Singapore Exchange (SGX) has granted its request for an
      549 words
    • Article
      Lock icon Midas Holdings wins 44.3m yuan Changchun metro contract
      301 5  -  By CARINE LEE MIDAS Holdings has secured a 44.3 million yuan (S$9.08 million) metro contract through its subsidiary, Jilin Midas Aluminium Industries Co Ltd. The Singapore-listed firm said yesterday that the contract was awarded by CNR Changchun Railway Vehicles Co Ltd for
      301 words
    • Article
      Lock icon Optus Satellite bidding said to be entering 2nd round
      435 7  -  Eutelsat, Inmarsat, SES still in the running; Carlyle, KKR out, says Bloomberg By JOYCE HOOI THE Optus Satellite sale train valued at about A$2 billion (S$2.3 billion) continues to chug along, with bidding moving to the second round and two private
      435 words
    • Article
      Lock icon PS Group launches IPO for Catalist listing
      431 7  -  Placement of 20.4m new shares at $0.25 apiece By LIVIA YAP PS Group Holdings Ltd, a supplier of fasteners, yesterday launched its initial public offering (IPO) with a placement of 20.4 million new shares at $0.25 each for its proposed listing on the
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    • Article
      Lock icon UOB and OSK end fund management ties
      226 7  -  By KENNETH LIM UNITED Overseas Bank (UOB) and OSK Group have agreed to go their separate ways in Malaysia following RHB Group’s acquisition of OSK’s investment banking arm, the Singapore bank announced yesterday. The split will affect ownership of three fund management joint
      226 words
    • Article
      Lock icon Keppel Fels wins order for US$210m jack-up rig
      300 7  -  By LYNN KAN KEPPEL Fels, Keppel Corporation’s rig-building yard, has secured an order for a KFELS B Class jack-up rig valued at US$210 million from PV Drilling Overseas (PVDO), an entity majority-owned by PetroVietnam Drilling Well Services Corporation. The high-specification rig is
      300 words
    • Article
      Lock icon Hafary forms SPV to acquire property
      174 7  -  By MINDY TAN HAFARY Holdings has incorporated a special purpose vehicle, World Furnishing Hub Pte Ltd (WFHPL), to acquire a property at Sungei Kadut. Hafary Holding’s wholly owned subsidiary Hafary Pte Ltd will have a 40 per cent stake in WFHPL, while Low See
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    • Article
      Lock icon Man fined for manipulative use of trading accounts
      324 7  -  By LEE U-WEN THE Monetary Authority of Singapore (MAS) has taken action against a man for using securities trading accounts maintained by various people with several brokerages to conduct trades in a company’s shares for his own benefit. The man, named by
      324 words
    • Article
      Lock icon PLife Reit to buy two nursing homes for $23.1m
      301 7  -  By TEO SI JIA PARKWAY Life Reit (PLife Reit), a healthcare real estate investment trust, is building up its Japanese portfolio with the purchase of yet another two nursing homes for $23.1 million. Colliers International had valued the properties Palmary Inn
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    • Article
      Lock icon S’pore investors holding too much cash: Manulife
      294 7  -  By KELLY TAY SINGAPORE investors are holding too much cash as much as 35 months of their personal income, in part because they are worried about making the wrong investment decision. This is according to the latest Manulife Investor Sentiment Index in Asia,
      294 words
    • Article, Illustration
      Lock icon Temasek assets may have hit record on stock rebound
      1021 8 CIMB Research sees a fairly decent set of numbers in Temasek annual review today Bloomberg TEMASEK Holdings Pte’s assets probably jumped to a record as the Singapore investment company benefited from a rebound in global stocks. The company, which will release
      Bloomberg; PHOTO: BLOOMBERG  -  1,021 words
    • Article
      Lock icon ST Aerospace inks MRO deal with UTC Aerospace
      230 8  -  By NISHA RAMCHANDANI ST AEROSPACE has inked a long-term agreement with UTC Aerospace Systems to provide maintenance, repair and overhaul (MRO) services for the nacelle systems of the RollsRoyce Trent 1000 and General Electric GEnx engines used in Boeing’s Dreamliner. The nacelle
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      852 5 Advertising Feature Tuas: the epicentre of industrial growth Westcom Tuas Checkpoint Country Club ‘1 I ngfcnirtna a mm ft. Joo Koon /GuI Circle /J «*yu MM I /J Keppel Shipyard Manufacturing/ A (u/c) 81 ..r I Kimberly-Clark Bn •i BM m J >. J j Tuas has transformed into a
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Euro fears return to spook markets
      613 6  -  ST Index dives 1.4 per cent, in line with HK rout and weak opening in Europe STOCKS R SIVANITHY Senior Correspondent THE Straits Times Index (STI) yesterday plunged 43.83 points or 1.4 per cent to 3,129.49 in tandem with a 2.5 per cent collapse
      Source: Bloomberg  -  613 words
    • Article, Illustration
      Lock icon STRAITS TIMES INDEX
      4 6 DAILY
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      71 6 Jul 3 VALUE CLOSE BT OB/OS -591.00-302.00 BT CADI -*****.00-206.00 BT 10-day MA -*****.00 -60.00 FTSE ST Mid Cap 746.63 -8.36 FTSE ST Small Cap 563.01 -5.61 FTSE ST All Share 768.13 -10.18 FTSE ST China Top 194.76 -1.92 FTSE ST China 227.22 -1.01 FTSE ST Catalist
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    • Article
      Lock icon MOST ACTIVE STOCKS
      56 6 VOLUME SingHaiyi 258,489,000 Mirach Energy 193,715,000 MDR 160,697,000 New Wave 70,580,000 NexGenSCom 51,656,000 Innopac 49,489,000 Asiamedic 37,306,000 CNA 34,646,000 Noble Grp 32,204,000 WE Hldgs 31,392,000 VALUE($) SingTel 81,293,370 Mirach Energy 54,578,830 DBS Grp 52,043,090 OCBC Bk 51,238,260 GLP 50,306,912 UOB 49,667,690 CapitaLand 41,185,550 Keppel Corp 36,419,910 Noble
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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 0 11 1 0 0 0 0 11 1 Manufacturing 28 63 31 5 11 3 33 74 34 Commerce 10 32 12 1 7 3 11 39 15 Tpt/Stor/Comms 6 21 9
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    • BROKERS’ TAKE
      • Article, Illustration
        Lock icon ST Engineering
        403 6 July 3 close: $4.01 DMG Partners Research, July 2 WE initiate coverage on ST Engineering (STE) with a “buy” rating. Based on our discounted cashflow (DCF) model and assuming a terminal growth rate of 1.5 per cent and weighted average cost of capital of 8.4 per cent, we
        Source: Bloomberg  -  403 words
      • Article, Illustration
        Lock icon Parkson Retail Asia
        450 6  -  Compiled by ANDREA SOH July 3 close: $1.50 CIMB Research, July 2 WE resume coverage on Parkson Retail Asia (PRA) with an “outperform” call. Our $1.88 target price is based on 22 times CY2014 PE (versus 20 times previously), which is on a par with the average
        Source: Bloomberg  -  450 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 15,837 15,837 58,876 58,876 Manufacturing 197,527 39,377 236,904 108,957 3,585 112,542 Commerce 176,713 44,185 220,898 92,821 4,223 97,045 Tpt/Stor/Comms 110,785 24,460 135,245 175,979 9,430 185,409 Finance 65,572 35 65,607 171,188 16 171,203 Construction 63,320 42,704
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    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      115 6 Stock name Close Change CapMallsAsia 1.830 CapitaLand 3.050 -0.040 CapitaMall 1.955 -0.045 CityDev 10.520 -0.300 ComfortDelGro 1.820 -0.030 DBS Grp 15.510 -0.190 GLP 2.750 -0.130 Genting SP 1.350 -0.030 Golden Agri 0.560 -0.005 HK Land 6.880 -0.020 HPH Trust US$ 0.735 -0.005 JMH 60.000 -1.010 JSH
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    • Article, Illustration
      Lock icon Biggest percentage fall in two weeks for won
      480 6 CURRENCIES Reuters [SINGAPORE] The South Korean won suffered its worst day in almost two weeks yesterday, leading the slide in emerging Asian currencies as more investors priced-in expectations of strong US jobs data and the Federal Reserve tapering off its quantitative easing.
      Reuters; PHOTO: BLOOMBERG  -  480 words
    • Article
      Lock icon RISES
      120 6 BY CENTS CLOSE UP Hyflux 6% CPS 10 ***** 149.0 1.4 DBXT MSEurope 10US$ 4858 67.5 1.1 DBXT S&P500 10US$ 2636 56.0 1.7 SPDRS S&P 500 10US$ ***** 53.5 0.3 DBXT S&P Short 10US$ 3052 42.0 1.1 IS ASIA HYG100US$ 1064 19.1 1.4 IS ASIA HYG100S$D 1338 18.0 1.4
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    • Article
      Lock icon FALLS
      125 6 BY CENTS CLOSE DOWN GLD 10US$ ***** -197.4 -1.3 JMH 6000 -128.6 -1.7 Jardine C&C 4101 -106.0 -2.5 DBXT MSINDO 10us$ 1487 -85.3 -4.3 CIMBAsean40 100US$ 1073 -52.2 -3.7 Lyxor China H 10US$ 1200 -50.9 -3.2 DBXT MSAsExJp 10US$ 3044 -42.0 -1.1 DBXT MSTHAI 10US$ 2048 -35.7 -1.3 CityDev
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 6 DAILY
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      138 8 Wine Challenge 2013 ometimes, Being Labelled Works To Your Advantag e. 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.
      138 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Jollibee’s newest outlet is also its best
      572 9  -  Philippine fast-food giant hopes to open second store in S’pore ‘very soon’ By ANNABETH LEOW FILIPINO fast-food group Jollibee may have 780 outlets in the Philippines and another 92 in eight other countries. However, in terms of revenues, its topperforming branch is also
      applaud.PHOTO: YEN MENG JIIN  -  572 words
    • Article, Illustration
      Lock icon Make a date at The Dream Ball
      480 9  -  By FELDA CHAY IF it has been your childhood dream to dance at a ball in the arms of your prince or princess, mark July 14 down in your diary. That’s the date for The Dream Ball, a charity fund-raiser at Resorts World
      480 words
    • Article
      Lock icon NUS offers joint PhD, new NTU medical school set to open
      423 9  -  By NG ZHUO YANG THE National University of Singapore (NUS) is launching a joint Doctor of Philosophy (PhD) degree programme in biomedical science with The Hebrew University of Jerusalem (HUJ) starting next month. A collaboration between NUS’ Yong Loo
      423 words
    • Article, Illustration
      Lock icon New regulations raising finance firms’ workload
      351 9  -  Some hiring interim staff, others raising budgets: survey By LIVIA YAP BANKS and financial institutions are struggling to keep up with the constant flow of new regulations, says specialised recruitment firm Robert Half. According to the Robert Half Financial Services Global Report, out of
      351 words
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  • MALAYSIA
    • Article
      Lock icon M’sia aims to be high-income nation by 2020
      323 10 WB chief economist says target for transformation is possible [KUALA LUMPUR] Malaysia is well-positioned to transform itself into a high-income country by 2020, going by the country’s economic performance thus far, said the World Bank chief economist Kaushik Basu. “Malaysia’s target to
      323 words
    • Article, Illustration
      Lock icon AirAsia to launch Indian airline ‘by Oct’
      532 10  -  By S JAYASANKARAN in Kuala Lumpur ASIA’S largest budget carrier, AirAsia, hopes to launch its operations in India through the low-cost carrier AirAsia India by October. Details of this joint venture with Indian stakeholders were being worked out in a meeting among AirAsia’s
      PHOTO: AFP  -  532 words
    • Article
      Lock icon Fear of financing scheme’s end seen driving demand for mortgages
      384 10 [PETALING JAYA] Speculation over the removal of the Developer Interest-Bear-ing Scheme (DIBS) could accelerate property transactions in the near-term, temporarily driving the demand for mortgage loans. “People may be quick to take advantage while the scheme is still in force
      384 words
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      828 10 WATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg notices —4“/ BOUSTEAD SINGAPORE LIMITED (Incorporated in the Republic of Singapore) L (Company Registration Number: *****1036K) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the members of Boustead Singapore Limited (the ''Company”) will be held
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      469 10 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SUPERPORT PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****1665K NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the Company held at 78 Shenton Way #33-00 Singapore *****0 on the 28th day of June
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      442 10 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF ACECHARM PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****7930W NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the Company held at 78 Shenton Way #33-00 Singapore *****0 on the 28th day of June
      442 words
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      561 10 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF MCL LAND REALTY PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****5647R NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the Company held at 78 Shenton Way #33-00 Singapore *****0 on the 28th day
      561 words
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      445 10 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF MCL LAND (PROPERTIES) PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****3507N NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the Company held at 78 Shenton Way #33-00 Singapore *****0 on the 28th day
      445 words
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      425 10 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF ACME PACKET SINGAPORE CO. PTE. LTD (In Members' Voluntary Liquidation) Reg No. *****2000N NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 56 Wakefield Street, Auckland, New Zealand
      425 words
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      206 11 The all-new BMW M6 Gran Coupe A The Ultimate Driving Machine 1 XX VI v A 1 o BMW M6 Gran Coupe 5i ••a fx BE YON D STATUS. Its approach is signalled by a rich, sonorous sound. And then, suddenly, it appears a captivating vision of luxury and timeless
      206 words
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  • GREATER CHINA
    • Article, Illustration
      Lock icon No systemic risk seen in China’s system
      584 12 Overall structure is much more robust than thought, says Harvest Global CIO Reuters [HONG KONG] China’s financial system is more “robust” than widely thought and the recent cash crunch does not signal any systemic risk, according to a senior investment executive of one
      Reuters; PHOTO: BLOOMBERG  -  584 words
    • Article
      Lock icon China’s Cai emerges as billionaire after stock soars
      429 12 Bloomberg [SHANGHAI] Shenzhen O-film Tech Co chairman Cai Rongjun has become a billionaire after stock in the Chinese touchscreen glass-panel maker soared more than 170 per cent this year on higher demand for tablet computers. Mr Cai, 41, has a net worth
      Bloomberg  -  429 words
    • Article, Illustration
      Lock icon Conditions to achieve growth targets in place: Chinese premier
      345 12 Bloomberg [SHANGHAI] Chinese Premier Li Keqiang said that the conditions for the world’s second-biggest economy to achieve its growth targets are in place, China Central Television reported on Tuesday. The conditions exist for China to realise its economic targets for this
      Bloomberg  -  345 words
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      1956 12 WATS NOTICES Toll free 1800-289-8822 Email notices@sph,com.sg www.cats.com.sg/notices TRAVELITE HOLDINGS LTD. (Incorporated in the Republic of Singapore) (Company Registration Number: *****1089K) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of TRAVELITE HOLDINGS LTD. (the “Company”) will be held at 205A Kallang Bahru Singapore *****2
      1,956 words
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  • INDIA
    • Article
      Lock icon Indian services growth slows down in June
      360 13 New business trickles in at the weakest pace in nearly two years Reuters [BANGALORE] Indian services firms lost momentum in June as new business trickled in at the slowest pace in nearly two years, dashing hopes of a sustained pick-up in economic growth,
      Reuters  -  360 words
    • Article, Illustration
      Lock icon Honda races ahead in India with its Amaze compact
      554 13 Bloomberg [MUMBAI] Honda Motor Co may have cracked the formula for success in India: a diesel-powered compact sedan. The Amaze, introduced in April, fuelled the Japanese automaker’s sales to a record the following month and propelled Honda to the third spot
      Bloomberg; PHOTO: AFP  -  554 words
    • Article, Illustration
      Lock icon Abu Dhabi to invest in India infrastructure
      453 13 US$50b pledge key in push for India to approve flight deal AFP [NEW DELHI] Abu Dhabi has promised to invest US$50 billion in India’s cash-hungry infrastructure at a time when growth in Asia’s third-largest economy has sharply slowed, a newspaper reported yesterday. The
      AFP; PHOTO: AFP  -  453 words
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      124 13 We're focused. So we can see more clearly. At Aberdeen, asset management is our sole focus. So we have been able to concentrate on building powerful expertise across all key asset classes from equities to bonds, from property to alternatives. And because we have this rich expertise, we can deliver
      124 words
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  • ECONOMY WATCH
    • Article
      Lock icon RBA ready to act as mining boom peaks
      315 14 Reuters [SYDNEY] The cooling of Australia’s long-run mining investment boom will pose a significant challenge, but the central bank stands ready to help support an economy shifting to a new source of growth, the head of the Reserve Bank of Australia (RBA)
      Reuters  -  315 words
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      Lock icon AUD buckles to 3-yr low, likely to weaken further
      856 14 Test of 90 US cents seems inevitable, leading to talk of how low it could go Reuters [SYDNEY] All the stars seem to be aligned for a further decline in the Australian dollar, though there is also reason to think it
      Reuters; PHOTO: BLOOMBERG  -  856 words
    • Article
      Lock icon Immigrants’ impact on US Social Security
      773 14 NYT [NEW YORK] The US Social Security Administration says that the immigration bill passed by the Senate would help its coffers, adding US$276 billion in revenue during the next 10 years while costing only US$33 billion. But 10 years is a short time when
      NYT  -  773 words
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      1813 14 WATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices LOTTVISION LIMITED (Incorporated in Bermuda) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 2013 Annual General Meeting of LOTTVISION LIMITED (the “Company”) will be held at Capital Tower, FTSE Room Level 9, 168 Robinson Road, Singapore *****2 on 29
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  • WORLD
    • Article, Illustration
      Lock icon Abe vows political stability by winning upper house
      651 15  -  But LDP leader says party won’t become arrogant once it controls both houses By ANTHONY ROWLEY in Tokyo PRIME Minister Shinzo Abe vowed yesterday to bring “political stability” to the country by securing a decisive victory in the July 21 upper house
      651 words
    • Article
      Lock icon Wells Fargo, HSBC among 4 banks that file ‘living wills’
      564 15 Bloomberg [SAN FRANCISCO] Wells Fargo Co and HSBC Holdings plc are among four banks that told US regulators they could seek to sell units and place others into bankruptcy in the event of a crisis. Royal Bank of Scotland Group
      Bloomberg  -  564 words
    • Article
      Lock icon EU votes down bonus curbs for fund managers
      438 15 Bonus cap at annual salary will damage industry, say critics Bloomberg [BRUSSELS] The European Parliament narrowly rejected proposals to ban fund managers from receiving bonuses amounting to more than their annual salary amid warnings that the plan could backfire by harming pensions
      Bloomberg  -  438 words
    • Article, Illustration
      Lock icon Egypt’s Mursi, military stick to their guns
      628 16 Military chiefs say they’re willing to shed blood against ‘terrorists and fools’ Re uters [CAIRO] Egypt’s military chiefs, vowing to restore order in a country racked by protests over President Mohamed Mursi’s Islamist policies, issued a call to battle in a statement headlined
      Reuters; PHOTO: AP  -  628 words
    • Article
      Lock icon France calls for EU-US trade talks delay
      576 16 But EU says alleged US spying won’t affect negotiations AP [PARIS] The French government said yesterday that it wants the start of major trade negotiations between the United States and the European Union suspended for two weeks amid anger over alleged US eavesdropping
      AP  -  576 words
    • Article, Illustration
      Lock icon May trade deficit widens sharply as imports rise
      479 16 LATEST US DATA Reuters AP [WASHINGTON] The US trade deficit widened sharply in May, as stronger US demand pulled in more imports from China and the rest of the world and sluggish growth abroad pushed exports lower, a US government reported showed
      Reuters; AP; PHOTO: AFP  -  479 words
    • Article
      Lock icon Greece to miss targets on public sector reforms
      557 16 Reu ters [ATHENS] Greece cannot meet targets on reforming its public sector but expects to reach agreement with its foreign lenders on all other issues by Monday’s Eurogroup meeting, finance ministry officials said yesterday. Greece’s EU and IMF lenders, unhappy with the
      Reuters  -  557 words
    • Article
      Lock icon Online lenders catch Wall St investors’ eye
      365 16 Reuters [SAN FRANCISCO] Institutional investors are tripping over themselves to buy so-called peer-to-peer loans offered by a new breed of Internet lending companies, a development that could transform the nascent sector into significant player in the credit markets. P2P lending, as it is
      Reuters  -  365 words
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      115 15 GlVTS i jC i y tm*. 1 [fl SSsssPre SGPFX“com/reg3 NWW.SGPra" competmor nd edge ahead or tne 10-12 July 2013 Level 1, Hall B&C Marina Bay Sands, Singapore Organised By: B| I I k| Blk8 Lorong Bakar Batu, I L L I IN N #07-07 Singapore *****3 Exhibition Services Pte
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      166 15 One of the LARGEST Investment Fairs in Town! Discover the Wealth Of Investment Opportunities! EVENT HIGHLIGHTS Panel Discussion on Market Outlook (In English and Mandarin) Over 40 FREE Investment Seminars Attend Educational Workshops by International Investment Gurus Keynote Presentations by Popular Investment Speakers Dr. Alexander Elder Best-selling Author, Director of
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      105 15 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 VP99 EMAN STEEL WORKOUT BOULDER
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      20 16 China's banks launch slew of high-yielding products to cope with liquidity squeeze To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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      157 16 IN THE HIGH COURT OF THE REPUBLIC OF SINGAPORE CWU No. 79 of 2013 In the Matter of The Companies Act (Cap. 50) And In the Matter of TITAN OCEAN PTE LTD (Singapore UEN No. *****6035Z) Between DONGJIN MARINE SERVICE CO., LTD (Korea, South Registration No. **********) …Plaintiff And TITAN
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  • A NEW GLOBAL VISION
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      Lock icon A profession's global ambitions
      1016 17  -  Singapore’s accountants are upping their game as they seek to become leaders in the global profession. KAN KWOK LEONG reports KAN KWOK LEONG TO achieve its goal of becoming a global accountancy hub, the profession in Singapore must expand its talent pool to tackle the challenges
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      Lock icon Singapore’s accountancy ambitions
      140 17 THE Committee to Develop the Accountancy Sector (CDAS) was formed by the Ministry of Finance in December 2008 to undertake a holistic review of the accountancy sector and profession here, with the aim of positioning Singapore as a leading international centre for accountancy services and professionals by
      140 words
    • Article
      Lock icon What is the Chartered Accountant of Singapore?
      97 17 THE Singapore Qualification Programme (QP) administered by ISCA is designed to be the educational pathway of choice for professional accountants. The programme, which opened yesterday, leads to the Chartered Accountant of Singapore (CA Singapore) designation and is in line with similar programmes elsewhere,
      97 words
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      Lock icon A new brand for a new mission
      225 17 THE Institute of Certified Public Accountants of Singapore (ICPAS) has rebranded itself with a new name and visual identity to reflect its new global vision, strategic role and its appointment as an entity to confer the new Chartered Accountant of Singapore (CA Singapore)
      225 words
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  • EDITORIAL & OPINION
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      Lock icon Code of conduct on S China sea will help
      506 18 EDITORIAL BEIJING has made a significant and constructive gesture in agreeing to talks on a binding Code of Conduct to manage conflicting territorial claims in the South China Sea. According to the joint statement after the AseanChina Foreign Ministers’ Meeting held
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      Lock icon Govts, not ‘hidden hand’, behind forex movements
      830 18  -  THE BOTTOM LINE ANTHONY ROWLEY Tokyo Correspondent CURRENCY exchange rates should be “market-deter-mined”, right? Right, except when those very governments preaching this dubious doctrine determine otherwise. And lately we have witnessed some blatant examples of governments determining exchange rates while markets look on
      830 words
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      Lock icon Reducing inequalities in healthcare
      936 18  -  More and better-targeted redistributive policies crucial to improving health among the poor By JOHAN P MACKENBACH The writer is professor of Public Health and chair of the Department of Public Health at Erasmus MC, University Medical Center Rotterdam and a member of the Royal Netherlands Academy
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      Lock icon TPP opponents in US gain momentum
      1255 19  -  The Tea-Party contingency among GOP lawmakers in House may spell trouble for Obama’s trade liberalisation agenda LEON HADAR Washington Correspondent UNLIKE former US president Bill Clinton and other leading members of the centrist wing of the Democratic Party, Barack Obama has never been regarded
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      Lock icon Coming of age of the renminbi
      778 19  -  By AMIT GUPTA The writer is chief executive for South-east Asia, HSBC Private Bank THE early adopters for China’s newly internationalised currency have mostly been corporates attracted by the business advantages, but offshore personal investors are also beginning to warm to renminbi’s growing attractions.
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  • AVIATION/SHIPPING
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      Lock icon Global air passenger traffic up 5.6% in May
      463 20  -  Growing demand for connectivity to emerging markets is primary driver: Iata By NISHA RAMCHANDANI DESPITE the ongoing challenges facing the global economy, demand for air travel continues to grow robustly, underpinned by emerging markets. According to the International Air Transport Association (Iata),
      463 words
    • Article
      Lock icon Asia shipping industry pain may be investors’ gain
      839 20 Reuters [SINGAPORE] US private equity and investment funds are betting Asia’s shipping industry, hit by a restructuring wave that has already swept Europe and the United States, is the best spot to ride a recovery from the industry’s worst downturn in three
      Reuters  -  839 words
    • Article
      Lock icon TRANSPORT STOCKS
      230 20 SGX '000 Jul 3 S$ +/-Vol CH Offshore '000 Chuan Hup Hldg 0.25 unch 67 S$ CWT Ltd Vol First Ship Lea unch unch 0 Freight Links Grand Banks unch unch 0 Jaya Hold Ltd 0.56 -0.02 21 K1Ventures 67 Keppel Corp 10.36 -0.09 3524 Mercator Lines unch
      230 words
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      Lock icon Singapore budget carrier has new name and logo
      319 20  -  By NISHA RAMCHANDANI WHO says a Tiger can’t change its stripes? Singapore budget carrier Tiger Airways has overhauled its branding, starting with a new logo and a new name Tigerair. Also, the budget airline will be introducing mobile and Web check-in, while
      319 words
    • Article
      Lock icon Cosco group retires chairman amid shipping industry slump
      262 20 Reuters [HONG KONG] China’s largest shipping group, China Ocean Shipping (Group) Co (Cosco Group) has replaced its chairman in what appears to be a bid to boost profitability amid a downturn in the global shipping industry. Cosco Group, parent of the world’s
      Reuters  -  262 words
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      27 20 HOW LOW WILL THE RUPEE FALL? Time to sign up for Integration Cup 2013 Visit www.golfdigest.com.sg GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS WHILE STOCKS LAST
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      72 20 aasaras^ Showcasing innovations for holistic healthcare 19-21 August 2013 Marina Bay Sands, Singapore Event Highlights Comprehensive showcase of healthcare solutions Free-to-attend on-floor seminars Endless learning opportunities Biometric W, Experience MedkalTechnology Medical Equipment Supplies System mHealthTeleHealth rehabilitation Kitchen Equipment erm Healthcare Orthopaedic Operation hls human resource Patient Record System safetypharmaceutical Innovation
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  • Page 20 Miscellaneous
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      343 20 CRYPTIC CROSSWORD Across 1 Queen performed, getting terrible score (4) 3 Like very good allocation? That’s what’s hoped for (10) 9 River not healthy small flow of water (4) 10 Biologist has burden and motion’s tricky (10) 11 Scotch drink team is into (5,2) 13 Sort of design company backing
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      494 21 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) VESSEL VOY SIN NOU SUVA BUS MOTHER VESSEL NOU SUVA BUS APIA PAGO PAPEETE N’LOFA VILA SANTO TARAWA MAYSSAN 1321E 30 Jun 11 Jul
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      426 21 FOONG SUN SHIPPING (PTE) LTD INDONESIA SUMATRA PORTS VESSEL VOY ETA ETD DESTINATION BERJAYA 1 08/13 06/07 08/07 BELITUNG/PKL BALAM SRIJAYA8 07/13 06/07 08/07 JAMBI/PEKAN BARU SINOPA 11/13 05/07 07/07 PALEMBANG/PANJANG FAJARMAS 07/13 08/07 10/07 BELAWAN/LHOKSEUMAWE SIANIRI 10/13 05/07 07/07 BENGKULU/PADANG CARAKA JN322 07/13 10/07 12/07 SABANG/MALAHAYATI INDONESIA JAVA SULAWESI
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      431 21 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 05/07 TAMESIS FF326 19/06 24/06 28/06 03/07 09/07 TONSBERG FF327 24/06 28/06 01/07 03/07 09/07 15/07
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      2980 22 Transaction date: Jul 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 8.8 3 A-Sonic --AAT Vol Day Last Quote ('000) High Low Buyer Seller Div Gr Yld 10.4 7 AEM
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      Lock icon SGX CATALIST
      242 23 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 10.9 7.8 t AP Strat R Day Last Quote Div Gr Yld Net M Cap High Low Company Sale (‘000) High Low Buyer
      242 words
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      Lock icon UNIT TRUST & FUNDS
      11207 23 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** Aberdeen Asset Mgt Asia Limited APS Alpha Fund (USD)!** Asian Local Ccy SD Bond Aberdeen Asset Mgt Asia Limited EM Local Ccy Bond Asian Local Gey SD Bond 1.0006/ EM Local Ccy Bond 0.9405/ European
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      Lock icon GLOBALQUOTE
      245 23 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Low 52 31 Genting HK US$ US44.5 -1 4046 45.5 44 44 44.5 2930.1 Last 260 191 TanChongInt HK218 228 240 4.3 3.2 7.3 4390.3 DISCLAIMER: All
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      Lock icon SGX ETF
      851 23 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 126 107.1 ABF SG Bond ETF Company 143 120.4 CIMB APAC Div 100S$D 127.7 128 128.9 114.4 99 CIMB APAC Div 100US$ US99.2 100.1 100.9 10.4
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      646 24 Jul 3 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.99 *****.77 *****.08 Sep13 *****.00 *****.00 *****.00 *****.00 *****8 *****2 Dec13 *****.00 *****.00 *****.00 *****.00 1206 ***** MSCI TAIWAN INDEX FUTURES SPOT 285.44 285.49 281.68 Jul13 281.90 282.80 277.80 278.60 ***** *****7 Aug13 279.50
      646 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 24 In local curr In S$ In US$ dy yr dy yr dy yr Jul 2 Index Change Change Change Change Change Change World Preliminary 1047.2 0.5 11.6 0.8 12.6 0.4 8.3 EAFE Preliminary 855.3 0.5 10.4 0.6 7.6 0.2 3.4 Europe Preliminary 1201.0 -0.3 4.7
      373 words
    • Article
      Lock icon INTERBANK CROSS RATES
      476 24 Jul 3 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.957 5.560 0.701 7.030 54.730 90.126 0.908 10.378 2.892 1.173 90.548 39.414 1.155 9.145 0.862 27.255 28.185 0.598 0.907 Canada 1.045 5.810
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      Lock icon SIBOR
      61 24 Jul 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$) 0.***** 3 mths 0.***** 6 mths 0.***** 9 mths 0.***** 12 mths SWAP Mid rates (S$) (S$)
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      Lock icon PRECIOUS METALS
      140 24 Jul 3 GOLD(US$/oz) Jul 02 Jul 03 Hong Kong 1276.20 1259.00 Jul 01 Jul 02 London 1246.46 1248.89 1247.23 1249.95 Source: Thomson Reuters CAST BAR Jul 03 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 115 51 5gm 326 255 10gm 583 510
      140 words
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      Lock icon GOVERNMENT SECURITIES
      92 24 Jul 3 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 19-Sep-13 0.26 6-Month BS*****X 27-Dec-13 0.29 1-Year BY*****H 02-May-14 0.28 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-15 100.08 100.14 100.14 5-Year N*****0T 0.5
      92 words
    • Article
      Lock icon PALM OIL
      55 24 Jul 3 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 13 2359.0 707 Aug 13 2355.0 2368.0 2373.0 2346.0 3590 ***** Sep 13 2346.0 2365.0 2372.0 2342.0 ***** ***** Oct 13 2337.0 2358.0 2365.0 2333.0 5702 *****
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      Lock icon INTERBANK CURRENCY RATES
      155 24 Jul 3 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1543 1.1557 0.9065 0.9069 Canadian dollar 1.2062 1.2075 0.9476 0.9472 Euro 1.6461 1.6477 1.2927 1.2930 NZ dollar 0.9837 0.9850 0.7725 0.7730 Sterling pound 1.9306 1.9326 1.5161 1.5166
      155 words
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      Lock icon CHICAGO BOT
      112 24 Jul 2 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 13 1573.00 1570.50 1584.75 1565.00 Aug 13 1433.50 1436.25 1445.00 1430.25 Sep 13 1293.75 1296.25 1305.25 1290.00 Nov 13 1242.50 1243.25 1252.50 1235.00 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 13
      112 words
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      Lock icon LIFFE
      95 24 Jul 2 COCOA (£/tonne) Close Prev High Low Jul 13 1451 1432 1453 1425 Sep 13 1474 1452 1475 1446 Dec 13 1483 1463 1485 1457 Mar 14 1481 1462 1483 1455 COFFEE(US$/tonne) Close Prev High Low Jul 13 1805 1755 1805 1764 Sep 13 1824 1785 1826 1792
      95 words
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      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      970 24 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 0.4 1 146 815 40.00 10 Conv Albedo Limited W*****9 0.8 unch 1000 Exer Price Asiatravel.com HoldingsW*****7 0.2 1 25 12 Asiatravel.com HoldingsW*****5 0.5 1 27 36 Best
      970 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 24 CRUDE OIL PRODUCTS Jul 02 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 103.73 0.59 WTI (Near Mth) 99.52 1.62 Dubai (1-Mth F) 99.29 0.11 Tapis blend 108.10 0.55 Minas 103.65 0.55 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 94.06 1.78 Jet Kerosene 116.02 0.16 US$/barrel OpecOil Basket
      70 words
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      Lock icon US$/S$ FORWARD RATES
      22 24 Jul 3 S$ Bid Offer 1-month 1.2733 1.2743 2-months 1.2733 1.2744 3-months 1.2733 1.2745 6-months 1.2733 1.2746 Source: OCBC
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    • Article
      Lock icon LONDON METALS
      65 24 Jul-02 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1789.50 1784.00 3 months 1832.50 1827.50 Copper, Grade A(US$/tonne) Cash 6918.00 6980.50 3 months 6910.00 6979.00 Lead(US$/tonne) Cash 2069.25 2077.25 3 months 2078.50 2087.50 Nickel (US$/tonne) Cash *****.00 *****.50 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months *****.00
      65 words
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      Lock icon FOREIGN CURRENCY NOTE RATES
      121 24 As at 9am Jul 03 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.188 1.132 Can dollar 1.227 1.180 Euro 1.686 1.606 Sterling pound 1.960 1.885 NZ dollar 1.008 0.970 US dollar 1.296 1.235 Local dollars to 100 units of foreign
      121 words
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      Lock icon INTERBANK RATES
      159 24 Jul 3 Jul 3 $S Offer Bid 0vernight 0.03 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.08 US$ Offer Bid 7 days 0.22 0.12 1 month 0.28 0.18 2 months 0.40 0.20 3 months 0.45 0.25 6 months 0.55 0.35 9 months 0.70
      159 words
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  • PROPERTY
    • Article, Illustration
      Lock icon Banks offering jumbo mortgages to wealthy Americans
      1068 25 Deposit-rich banks fixing rates at or below taxpayerbacked loans Bloomb erg [NEW YORK] Americans are finding it pays to go big when borrowing to buy a home. Wells Fargo Co and JPMorgan Chase Co lead banks that are offering jumbo mortgages, those too
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    • Article
      Lock icon UK banks willing to hand out riskier mortgages
      281 25 Bloomberg [LONDON] UK banks have boosted mortgage availability and lowered borrowing costs in the second quarter and signalled they may increase the supply of riskier loans, according to the Bank of England (BOE). An index of home loan availability rose to 17.4
      Bloomberg  -  281 words
    • Article
      Lock icon Househunt
      814 25 PROPERTY TRANSACTIONS FOR DISTRICTS 1 TO 28 WITH CONTRACT DATES BETWEEN JUNE 5 AND JUNE 11, 2013 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILTTN/LAND AREA'(SQ FT) PRICE (SS'OOO) P5F (SS) District 1 NON-LANDED Marina Bay Residences Apt 05/06/2013 99 2379 9040 3800 District 3 NON-LANDED Echelon
      814 words
    • Article, Illustration
      Lock icon Cheap Detroit homes prove costly for communities
      1222 26 Speculators buy up homes for as little as US$500 and often abandon them and not pay local taxes Reuters [DETROIT] The solid red brick house on a block of similar homes in Northwest Detroit sounds like a steal at US$3,728. But in many
      Reuters; PHOTO: BLOOMBERG  -  1,222 words
    • Article, Illustration
      Lock icon Mori cuts costs by replacing hybrid debt
      1295 28 Mori Tower owner to buy back and retire 110b yen of preferred shares, refinance 70b yen of the paper Bloomberg [TOKYO] Mori Building, whose Roppongi Hills complex this year lured Google to take office space once occupied by Lehman Brothers, is cutting costs
      Bloomberg; PHOTO: BLOOMBERG  -  1,295 words
    • Article, Illustration
      Lock icon Sim Lian launches project in KL
      295 29  -  By MINDY TAN SIM Lian Group has launched KL Trillion, a luxury serviced residence, in the heart of Malaysia’s capital city, as part of its diversification drive. Its subsidiary, Perumahan SLG Central Sdn Bhd, will launch 184 units, out of the 368 units available.
      295 words
    • Article
      Lock icon Housing price declines near an end: BOK
      211 29 Reu ters [SEOUL] South Korea’s central bank believes the downward trend in housing prices is nearing its end, although it expects any rebound afterwards to be modest, minutes from its June 13 policy meeting showed on Tuesday. An unspecified department of the Bank
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      Lock icon Manila: No need for new property loan rules
      463 29 Central bank says risk of asset price bubbles forming in market is low now Reuters [MANILA] The Philippine central bank sees no need to adopt new rules on real estate lending in spite of strong demand as the risk of asset bubbles
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      281 26 Building Wealth Through Global Property Investment We help our clients identify opportunities, BUILD PORTFOLIOS AND HELP THEM MAXIMIZE THEIR WORLD-WIDE ASSETS UNDER MINIMAL RISKS. rm a -J Ml 'Sam J t 7 T’l"’ INCOME GENERATING ASSETS -Benefit from secure and regular income returns plus long-term asset appreciation- Commercial Buildings in
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      610 26 Best deal in Orchard Road. Significant price discounts for a limited period. Only 40 exclusive apartments BRAND NEW luxury condominium on Emerald Hill Ready for immediate occupation Spacious 3 4 bedroom apartments with unobstructed views Near Paragon, Mount Elizabeth Hospital, Somerset MRT and ION Orchard Freehold, foreigners eligible Artists’ Impression
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      541 27 HURLINGTON PROPERTY AND GALLIARD HOMES PRESENT WESTWOOD HOUSE Off Kings Road Chelsea London SWIO WESTWOOD HOUSESWIO t f v PAUL r.-, ■O' ikULd I’ATISSERIE X-' 5. f. i— i J« r>w i i 1 r 0,| > f 1 i r r > k I •JK? 1 -—■Pill Tn 1
      541 words
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      261 28 For Sale By Tender GUANG MING INDUSTRIAL BUILDING 65 Upper Paya Lebar Road Freehold Redevelopment Industrial Site in the Paya Lebar/Tai Seng Commercial Hub Suitable for Corporate Headquarter Adjacent to Tai Seng MRT (Circleline 11) Site Area 1,838.5 sq m (19,789 sq ft) Master Plan Zoning (2008) Industrial B1 (White)
      261 words
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      Lock icon Page 28 Advertisements Column 2
      266 28 Ofisr EUNOSVILLE Real value in a changing world j: zt z..' JiI-.-,*! S=; ■:■**■;^^T- a. 3B. n. r" 3 “s=n; —S s=i os. so. FIINOS.MRT-STATIQN-Site Area 376,713 sf, Plot Ratio 2.8 Only 90m to Eunos MRT Station LH approx. 102 yrs from 1986 Potential for 1,000 units of ave 1,100
      266 words
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      360 28 A Singapore Based Boutique Real Estate Broker Focusing On Commercial Real Estate In Central Region Of Singapore Regional Cities We deal with Sales Leasing of the following types of assets 3 4 Star Hotels I Shopping Mall Office Commercial Buildings Boutique Budget Hotels Commercial Shophouses F&B Outlets Within Central Area
      360 words
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      382 29 FREEHOLD RESIDENTIAL SITE OFF HILLVIEW AVENUE nSite Area: 4,046.6 sm nMP 2008: PR 1.92, up to 10-storey nRegular site configuration nSits on elevated ground and enjoys unblocked view of surrounding area nSold by single owner Tender Close: Tues, 23 Jul 2013 DTZ Investment 6293 3228 Actual View from Subject Site
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      125 30 Cus Tanglin Mall Bukit Timah Rd Singapore Botanic Gardens Tanglin Rd cad en Rd The Embassy of Japan St Regis Hotel National University of Singapore (Law Campus) Stevens Rd Orange Grove Rd Orchard Hotel Forum The Shopping Mall Anderson Rd Palais Renaissance Shangri-La Hotel Stevens (U/C) Hilton Hotel The Pines
      125 words
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      26 1 Wealth real assets: what’s ahead This edition looks at the outlook for real assets amid a potential shift in monetary policy and interest rates July 2013
      26 words
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      273 2 / 3 FERRR hV-; l. I i I Ilf I t 11 k 1 —.JV‘.L .4. ■V. K i m3 r d V jS ..-~~l ft r r-'- v [*t r "i 1 L ‘j:rJ ,Jg I 4 B .4™ HfL V "^00 -m I 1 iSai.*. INESSENCE www.inessence.com.sg DRIVEN BY INSPIRATION.
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  • Wealth
    • Article, Illustration
      Lock icon CONTENTS
      335 4 10 In for a reality check The Singapore stock market seems to have run ahead of its fundamentals, possibly reflecting the safe-haven qualities of the country and its currency 12 Sweet deal in bonds With valuations in high yield and emerging market bonds at unprecedented levels, Asian investors should
      335 words
    • Article, Illustration
      Lock icon Editor’s note
      676 8  -  By Genevieve Cua UST when risk appetite appeared to have recovered somewhat, a fresh bout of jitters has hit markets as of press time in mid-June, sparked by concern that the Federal Reserve may begin to taper off its pace of bond buying sooner rather than later. To
      PHOTO: iSTOCKPHOTO  -  676 words
    • MACRO OUTLOOK
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        Lock icon IN FOR A REALITY CHECK
        926 10  -  THE SINGAPORE STOCK MARKET SEEMS TO HAVE RUN AHEAD OF ITS FUNDAMENTALS, POSSIBLY REFLECTING THE SAFE-HAVEN QUALITIES OF THE COUNTRY AND ITS CURRENCY By Kelvin Tay Kelvin Tay is Regional CIO Southern Asia, UBS Wealth Management HE recent sharp fall in precious metal and commodity
        PHOTO: iSTOCKPHOTO; Source: Bloomberg, UBS, as at Q1,2013  -  926 words
    • FIXED INCOME
      • Article, Illustration
        Lock icon Sweet deal in bonds
        975 12  -  WITH VALUATIONS IN HIGH YIELD AND EMERGING MARKET BONDS AT UNPRECEDENTED LEVELS, ASIAN INVESTORS SHOULD PAYCLOSE ATTENTION TO THE UNDERLYING FORCES DRIVING THESE MARKETS By MIKE RIDDELL, JAMES TOMLINS Mike Riddell and James Tomlins are Fixed Income Fund Managers at M&G Investments N a world of
        PHOTO: STOCK.XCMNG  -  975 words
    • ASSET ALLOCATION
      • Article, Illustration
        Lock icon Time is on investors’ side
        1456 14  -  A DIVERSIFIED PORTFOLIO HELD OVER A MEANINGFULLY LONG PERIOD OF TIME WILL REAP REWARDS AT A RELATIVELY LOW RISK LEVEL By WILSON AW Wilson Aw (CFA) is Head of UOB Private Banking N an environment of prolonged low interest rates and high inflation, coupled with
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    • ROUNDTABLE
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        Lock icon HITTING INVESTMENT SWEET SPOT THE
        2915 18 OUR PANEL SOUNDS OFF ON THE MARKET OUTLOOK IN THE NEAR FUTURE AND GIVES ITS TAKE ON GETTING THE MOST OUT OF THE CURRENT ENVIRONMENT NOW that the US economy appears to be on the mend, investors are fretting over when the stimulus measures will
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        248 21 Genevieve Cua, BT Wealth Editor poses questions to four wealth experts for their views on the nearterm market outlook. Lim Say Boon is Chief Investment Officer for DBS Private Banking. He has held senior positions in banking andfinanceand the financial media. chief Prior to joining DBS,
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    • JAPAN OUTLOOK
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        1101 22  -  UNDER THE ABE ADMINISTRATION,THE GOVERNMENT BELIEVES THAT DEFEATING DEFLATION REQUIRES POLICIES WHICH TAKE RADICAL ACTION FROM OUTSIDE THE USUAL MARKET MECHANISMS By TAKASHI MARUYAMA Takashi Maruyama is Head of Equity Fund Management Department and Head of Alternative Investment Fund Management Department, Nikko AM S INCE the
        Source: Bank of Japan (as at Dec 31,2012); Source: Bloomberg (as at May 31); PHOTO: iSTOCKPHOTO  -  1,101 words
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        1154 24  -  IN AMERICA’S RECOVERY STORY, INVESTORS CAN PLAY IT TO THEIR ADVANTAGE BY PICKING OUT COMPANIES THAT ARE LEADERS OR EMERGING LEADERS IN THEIR INDUSTRIES By GRANT BOWERS Grant Bowers is Portfolio Manager, US Opportunities Fund, Franklin Templeton Investments N recent years US companies have done an
        Source: Bernstein Analysis, as at Dec 31, 2012; Source: NAHB/Wells Fargo Housing Market Index; US Census Bureau, as at Mar 31, 2013); PHOTO: BLOOMBERG  -  1,154 words
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        1207 26  -  SINCE THE LEADERSHIP CHANGE LAST NOVEMBER,THE CHINESE GOVERNMENT HAS BEEN PREPARING FOR STRUCTURAL REFORMS IN SEVERAL KEY AREAS By BENJAMIN YEO Benjamin Yeo is Chief Investment Officer, Asia Middle-East, Barclays HY have Chinese equities grossly underperformed developed stock markets (Europe and the US) so far this year despite
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        1108 28  -  LISTEN CAREFULLY AND CLOSELY TO WHAT THEY HAVE TO SAY ABOUT THEIR CURRENCIES By HENG KOON HOW Heng Koon How is Senior FX Strategist, Private Banking and Wealth Management, Credit Suisse HE FX market has seen some volatile moves lately. The moves may seem contradictory
        Source: Bloomberg, Credit Suisse; Source: BOJ, Credit Suisse  -  1,108 words
    • REITS
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        1431 30  -  LOWINTEREST RATES AND COMPELLING DEMAND/SUPPLY FUNDAMENTALS HAVE CREATED A FAVOURABLE ENVIRONMENT FOR REITS TO GROW By TIM GIBSON Tim Gibson is Fund Manager of the Henderson Horizon Asia Pacific Property Equities Fund R EAL Estate Investment Trusts (Reits) have long played an important role in
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    • COMMODITIES
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        958 32  -  A LOOK AT WHERE COMMODITIES ARE IN THE CYCLE AND WHAT LIES AHEAD By MARK KEENAN Mark Keenan is Director, Commodity Research Strategy, Societe Generale Corporate Investment Banking C ONDITIONS are finally coming into place for a sustainable US economic recovery. This will provide some support for procyclical
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    • | gold
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        1030 33  -  THE COMMODITY WILL CONTINUE TO SERVE AS AN IMPORTANT DIVERSIFICATION TOOLTO HEDGE AGAINST MACRO RISKS By CHRISTIAN NOLTING Christian Nolting is Regional Head of Portfolio Management Chief Strategist, Asia Pacific, Deutsche Asset Wealth Management G OLD has seen a significant spike in investor interest over recent
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    • US REAL ESTATE
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        1297 34  -  NEW YORK, SAN FRANCISCO AND CHICAGO STANDOUT FROM THE CROWD FOR THEIR STRONG INVESTMENT POTENTIAL By ALEXIS WU, SCOTT HAGERMAN Alexis Wu is Senior Analyst, IP Global Scott Hagerman is Investment Manager, IP Global A FTER years in the doldrums, all the signs are
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    • REGIONAL REAL ESTATE
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        Lock icon ISKANDARTAKING A LONG-TERM VIEW
        1625 36  -  ITS CAPITAL VALUES ARE NEARING KUALA LUMPUR LEVELS, BUT THE RENTAL MARKET IS STILL MOSTLY UNTESTED By NABEEL HUSSAIN Nabeel Hussain is Associate Director, Research and Consultancy, CBRE Malaysia SKANDAR is the large region just north of Singapore and it includes the whole of Johor Bahru
        (MALAYSIA) ELLIS RICHARD CB PHOTO:  -  1,625 words
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        926 38  -  NOWADAYS CLASSIC CARS, CHINESE ARTEFACTS AND FINE WINE, AMONG OTHERS, CAN BE PART OF AN INVESTOR’S PORTFOLIO By MOHAMMAD KAMAL SYED Mohammad Kamal Syed is Head of Strategic Solutions, Coutts NVESTORS are putting passion into their portfolios; the days when investments were made up of just cash,
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      130 5 Credit Suisse Bggfc. n -> zT'. Cr 1 B a#* r iL TK Wifi nr raft r a V 1 ■SP. *v g j r J L r .f--V sw* IE r ft mi it AWARDS FOR DISTINCTION 2012 Best Private Bank Indonesia Best Private Bank Family Office Services Best
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      110 9 IMAGINE A BANK Imagine a bank where your interests really do come fi rst. Imagine a bank without risky sovereign debt or toxic assets on its balance sheet. Imagine a bank whose owners have steered a course through over 40 fi nancial crises. Imagine a bank that’s been looking forward
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      426 13 p PRIVILEGE BANKING II I SR m m THERE’S MORE TO WEALTH THAN MONEY ALONE When it comes to Privilege Banking, we understand that the measure of true wealth goes beyond mere numbers. It’s a world where your dreams are celebrated, relationships treasured and legacies preserved. As a UOB Privilege
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      669 15 ADVERTORIAL Planning a legacy for future generations Financial planning does not end with retirement. Persist in planning ahead so that your loved ones will benefit from your gift of an enduring heritage That’s when having a will gives you power to decide who gets what, and when. Documenting your intentions
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      481 17 Standard Cg Chartered Here for good u investment strategies to consider 3 new Priority Banking Centres to identify your investment needs »»i 1 invitation to start a rewarding relationship with us It’s good to have a wealth of expertise when and where you need it PRIORITY Banking Join us in
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      283 23 Jenny Chew Financing Solutions South Asia Garth Bregman rtlonary Portfolio Management Asia i I r*f Looking for range wealth management solutions? Andy Chai Wealth Management Hong Kong Look no further m < Award-winning commitment to our clients.^ BNP Paribas Wealth Management Best Private Bank Alternative Investments Asian Private Banker Awards
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      89 25 r> 4 f 1 f 4 Tomorrow needs care Our continuous commitment in Asia In addition to providing global investment solutions, our Asia platform has developed local expertise and renminbi capabilities. Our commitment has always been rooted in transparency and long-term vision. Relying on these common sense values, we help
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      63 27 My name: John My business: Manufacturing My dream: To continue my family tradition My private bank: Julius Baer, because they have been leading the way in wealth management for generations The leading Swiss private banking group. Since 1890. www.juliusbaer.asia Julius Baer is present in over 40 locations worldwide. From Hong
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      123 31 A Daimler Brand The ultimate display of force and finesse. The new E 63 AMG S-Model. At its very best. The new E 63 AMG S-Model accelerates from 0-100 km/h in 4.1 seconds and harnesses a 5.5-litre V8 biturbo engine to deliver unprecedented performance. Together with its stunning aesthetics, the
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      101 39 BANKOFSINGAPORE International Private Banking Voted Best Private Bank in Singapore 2012 by Asian Private Banker Even after you've come this far, some things never change. Like you, we believe in the timeless value of hard work. That's why Bank of Singapore is dedicated to building on your values of diligence,
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