The Business Times, 13 July 2013

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Microfilm: NL32656
Total Pages: 48
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    19 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g JULY 13-14, 2013 S$1.00 MICA (P) 075/08/2012 A SINGAPORE PRESS HOLDINGS PUBLICATION
    19 words
  • Article, Illustration
    Lock icon GDP goes on a gallop, but high hurdles ahead
    876 1  -  GDP surges 15.6% q-o-q but speed can’t be sustained; H2 201 3 growth likely to be patchy, analysts say By Teh Shi Ning tshining@sph.com.sg Singapore INGAPORE’S gross domestic product (GDP) outstripped the most bullish of market forecasts in the second quarter
    876 words
  • Article, Illustration
    Lock icon Singapore GP lines up a show for companies
    725 1  -  Corporate hospitality options tweaked to woo patrons to this year’s F1 action By Nisha Ramchandani nishar@sph.com.sg Singapore HEADING into its sixth edition of the Formula One (F1) Grand Prix, organiser Singapore GP (SGP) has refreshed the corporate hospitality options offered at the
    725 words
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      Lock icon Page 1 Advertisements Column 1
      137 1 the the LIM SHOW ME THE MONEY Opportunities to lock in one’s return 33 MOTORING Mercedes-Benz E250 Estate L20 the raffles conversation LIM TIT MENG, CEO OF SCIENCE CENTRE 10-11 ERRANT FI Action taken against dozens: MAS MAS has been cracking the whip on financial institutions (FIs) to ensure illicit
      137 words
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  • TOP STORIES
    • Article, Illustration
      Lock icon CONTENTS
      62 2 NEWS Top Stories 2-8 Week In Review 9 Raffles Conversation 10-11 Companies 12-15 From the Desk of 16 Singapore 17-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-35 Show Me The Money 33 Househunt 34 Real Estate 35 LIVING Dining L2-5 Design L6-8 Style L9 Home Garden L10-11
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    • Article
      Lock icon Action taken against dozens of FIs: MAS
      464 2  -  Weak controls on money laundering, terror financing draw fines, warnings, curbs By Siow Li Sen lisen@sph.com.sg Singapore THE Monetary Authority of Singapore (MAS) has been cracking the whip on financial institutions (FIs) to ensure that illicit money does not enter the financial centre.
      464 words
    • MARKETS
      • Article
        Lock icon STOCKS
        58 2 HSTI 3,236.06 (-12.86) HSTI FUTURES 3,230.00 (-13.00) HSIMSCI 365.11 (-2.15) HSIMSCI FUTURES 363.80 (-2.20) KL COMP 1,785.65 +4.50 NIKKEI 225 14,506.25 +33.67 HANG SENG 21,277.28 -160.21 SET 1,453.71 +6.67 JAKARTA 4,633.11 +28.89 MANILA 6,574.21 +166.85 KOSPI 1,869.98 -7.62 SHENZHEN B 774.28 -9.13 MUMBAI IND 19,958.47 +282.41 12noon EDT Change
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.399 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.50 INDIA 14.45 Source: Bloomberg
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      • Article
        Lock icon FOREX
        48 2 US$ (S$ per US$) 1.263 (US$/S$ per 1.514 1.912 EURO(US$/S$/€ 1.304 1.647 Foreign currency per US$ S$ YEN 99.10 78.40 RM 3.177 2.515 HK$ 7.757 6.141 BAHT 31.18 24.68 RUPIAH 9,993 7,910 RENMINBI 6.139 4.860 INDIAN RUPEE 60.10 47.57 A$ 1.092 0.864 NZ$ 1.272 1.007 us$ s$
        48 words
    • Article, Illustration
      Lock icon Fewer accidents, but claims for injuries rise
      579 3  -  Conservative estimate of inflated and fraudulent claims puts annual amount at $140 million By Samuel Ee samuelee@sph.com.sg Singapore NOW that motor insurers have succeeded in cracking down on inflated accident claims, fraudsters appear to have moved on to bodily injuries, with such claims
      Source: GIA  -  579 words
    • Article
      Lock icon Condo rental yields break psychological support
      918 4  -  Overall gross median yields at 3.9% against 4.2% in 2012, 4.4% in 2011 By Mindy Tan tanmindy@sph.com.sg Singapore RENTAL yields for condominium apartments have fallen below the psychological 4 per cent support level, registering an overall gross median rental yield of 3.9 per cent
      918 words
    • Article
      Lock icon JPMorgan beats estimates with 31% rise in Q2 profit
      479 4 Net income up at US$6.5b on revenue from stocks, bonds Bloomberg AP New York JPMORGAN, the largest US bank by assets, reported a 31 per cent increase in second quarter profit that beat analysts’ estimates as revenue from trading stocks and
      Bloomberg; AP  -  479 words
    • Article
      Lock icon Indonesia to charge Malaysian firm over smog-causing fires
      345 6 Adei Plantations, a KL Kepong unit, denies wrongdoing Reuters Jakarta INDONESIA will file charges against the local unit of Malaysia’s third-largest palm oil planter over illegal fires that blanketed Singapore and Malaysia with hazardous smog last month, police said yesterday, prompting the
      Reuters  -  345 words
    • Article, Illustration
      Lock icon China finance minister hints of under-7% H2 growth
      710 6 Reuters Shanghai CHINA’S finance minister has signalled that Beijing may be willing to tolerate economic growth in the second half of the year significantly below 7 per cent, marking the most sobering comment to date from a senior policymaker on the country’s
      Reuters; PHOTO: AFP  -  710 words
    • Article, Illustration
      Lock icon Murray seen taking No 2 tennis wealth spot by ’18
      707 7  -  He’s expected to hit US$1 60m in net worth, assuming the current frontrunners retire from the sport By Cai Haoxiang haoxiang@sph.com.sg Singapore AFTER landing a historic Grand Slam title last Sunday, tennis star Andy Murray is expected to become the
      PHOTO: AFP  -  707 words
    • Article
      Lock icon Bullion retailer appoints second storage provider in S’pore
      434 7  -  By Andrea Soh sandrea@sph.com.sg Singapore IN a boost to Singapore’s status as a gold storage hub, international online bullion retailer Goldmoney has added another provider to its storage offering here. The tie-up with precious metal storage provider Malca-Amit comes just seven months
      434 words
    • Article, Illustration
      Lock icon Microsoft reboots with sweeping reorganisation
      1139 8 CEO Ballmer hopes to speed up innovation to fight Apple and Google AP San Francisco MICROSOFT Corp has decided that its entire business needs a new operating system. CEO Steve Ballmer is restructuring the company to cope with a quickening pace of technological change that
      AP; AP FILE PHOTO  -  1,139 words
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      86 3 Asia Responsible Entrepreneurship Awards 2013 Southeast Asia "Receiving this award FURTHER MOTIVATES US TO WORK AND THINK EVEN HARDER, TO BRING THE CAMPAIGN TO THE NEXT LEVEL” Mr. Nobuaki Majima, Managing director Ricoh Asia Pacific Pte Ltd RICOH imagine, change. Enterprise ft Asia a nongovernmental organisation for entrepreneurship AREA (NTRIPRENIURSHIP
      86 words
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      260 5 The Biggest Career Fair in Singapore Returns! VISIT THE STJOBS CAREER DEVELOPMENT FAIR 2013 n STJOBS >>CAREER& DEVELOPMENT2013 Find My Dream Job STJobs Career Insights Find out if your career is heading in the right direction with Numerology Tarot Readings, Image Consulting and Resume Clinic -v Upload your resume and
      260 words
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      Lock icon Page 6 Advertisements Column 1
      46 6 HOT PROPERTY m pJ gW fro S nta g C e° ntempora^. Ask$Z 6m^ S f^™ a n 9|( s chs LOOKING FOR WIDE FRONTAGE? Check this and many other properties in CATS Classified in The Straits Times now! MATS BUY IT SELL IT FIND IT
      46 words
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      Lock icon Page 6 Advertisements Column 2
      25 6 Call 1800 289 8822 I or e-mail I notices@sph.com.sg i j to publicise your IPOs other offerings WATS V s I I NOTICES CLA/FEB1 1/g
      25 words
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  • Page 8 Advertisements
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      Lock icon Page 8 Advertisements Column 1
      53 8 The Finder Singapore Download today! IT’S FREE Digital www.TheFlnder.com.sg FURNITURE TRAVEL WELLNESS SINGAPORE FOOD FESTIVAL y tAl YUUH WAY AKVUNU IHt WUHUJ BAV WiifT ©et/wa iFinder “SSS.fe'3® A RESIAURA FOR A CRC DAD B RING IT ON.' i changed FREE DOWNLOAD Available on the «ndrow*ppo» App Store Google play JULY
      53 words
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  • WEEK IN REVIEW
    • THIS WEEK July 8-12, 2013
      • Article
        Lock icon Europe acts to curb alarming jobless rate
        59 9 EUROPEAN leaders and central banks have signalled that they would relax austerity and boost money supply to stem the rising tide of unemployment. The signals came from a conference on youth unemployment in Germany last week, and from European Central Bank governor Mario
        59 words
      • Article
        Lock icon Speed and bumps lie in store for economy
        63 9 UNEXPECTEDLY strong manufacturing growth in April and May has led economists to expect a larger rebound in Singapore’s gross domestic product when the government releases flash estimates for the second quarter on Friday. But they are not changing their full-year forecasts yet,
        63 words
      • Article
        Lock icon Commodity houses find trimming factor
        44 9 THE desire for lean balance sheets amid an environment of growing business has increased the popularity of receivables financing among commodity houses. The practice enables trading houses to shorten their cash cycles and improve productivity in their working capital.
        44 words
      • Article, Illustration
        Lock icon Haze laws may follow firms across borders
        87 9 SINGAPORE-linked companies that cause the haze may soon have no place to hide from the law here even if their actions take place beyond the Republic’s borders. In fact, Singapore is studying the feasibility of introducing extra-territo- rial laws to clamp down on
        PHOTO: XXXXX  -  87 words
      • Article
        Lock icon Shares of KL lenders take a hit over loan curbs
        41 9 FINANCIAL institutions and other listed lenders were conspicuous losers on the Malaysian stock exchange on Monday on anticipation that loans growth would be dampened after lending rules were tightened last week.
        41 words
      • Article
        Lock icon In Iskandar, SMEs face same old labour crunch
        69 9 BUSINESSES that are looking to set up shop in Iskandar Malaysia to escape the tight labour market here may face a similar set of problems across the Causeway a lack of skilled labour to support their operations. The dearth of human capital
        69 words
      • Article
        Lock icon SIA tweaks cabins to keep its seat at the high table
        69 9 SINGAPORE Airlines is overhauling its first, business and economy cabins in its biggest cabin upgrade since 2006, as it seeks to maintain its edge in an increasingly crowded and competitive field. Close to US$150 million is being invested in
        69 words
      • Article
        Lock icon Young lawyers get pay hike, with caveat
        61 9 LOCAL law firms have hiked starting salaries yet again, with top payers in the industry now offering newly qualified lawyers up to $7,000 a month. The new pay scales may seem godsent to fresh lawyers and law undergraduates, but the longer term implications
        61 words
      • Article
        Lock icon China’s rig-builders gatecrash big league
        50 9 DESPITE being relative newcomers to offshore rigs, China-based shipbuilding yards have held on to their lead in rig orders in 2013. This has led analysts such as Vincent Fernando from Religare Capital Markets to think of 2013 as the “tipping point” for China’s rigbuilding industry.
        50 words
      • Article
        Lock icon Electronics SMEs taking much longer to pay bills
        58 9 SMALL and medium sized electronics companies in Singapore are taking a significantly longer time to pay their debts compared with a year ago, says DP Information Group. However, this is expected to be temporary, especially as the electronics industry continues to show
        58 words
      • Article
        Lock icon Japan still on course despite external fears
        52 9 JAPAN is on course to achieve its economic growth and inflation targets despite recent turbulence in the government bond market and uncertainty over external demand from China and elsewhere, Bank of Japan governor Haruhiko Kuroda said after the central bank held its regular
        52 words
      • Article
        Lock icon Iskandar beckons despite skilled-labour shortage
        58 9 COMPANIES continue to consider Iskandar Malaysia as an alternative even though a shortage of skilled labour may pose other challenges, including spiralling wages, as the availability of land there still gives it a competitive advantage over Singapore. However, they recognise that they will need to
        58 words
    • Article
      Lock icon NEXT WEEK July 15-19, 2013
      79 9 US DATA July 15 June retail sales July 16 June Consumer Price Index June Industrial production index July 17 July housing starts CHINA DATA July 15 Q2 GDP SINGAPORE DATA July 15 May retail sales and food beverage services Indices July 17 June merchandise trade
      79 words
  • Page 9 Miscellaneous
    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 1
      286 9 Across 1 Split the union (8) 6 You can’t make one without breaking another (6) 9 Road being renovated it is skilfully done (6) 10 Doctor may bless the school gathering (8) 11 NCO arranged battle course (8) 12 Best whipped or put in iced sweet dish (6) 13 Prone
      286 words
    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 2
      13 9 SATURDAY with Ludwig ‘His writing career started when he signed in to Twitter
      13 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Man on a mission
      2373 10 / 11  -  At 35, the Science Centre is businesssavvy and going borderless as it reinvents itself under chief executive Lim Tit Meng. By By Anna Teo anna@sph.com.sg WHEN university professor Lim Tit Meng took the helm as chief executive of Science Centre Singapore in January 2010, he had
      PHOTOS: ARTHUR LEE  -  2,373 words
    • Article, Illustration
      Lock icon The science of survival
      481 10 / 11 GROWING up on a farm, lim Tit Meng had nature at his doorstep and first-hand insights into animal life. Like watching his city dog’s first encounter with a toad after a few curious sniffs, it swallowed the hopping creature, much to his shock. The dog seemed
      481 words
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  • COMPANIES
    • Article
      Lock icon Tiong Seng in Yangon precast plant JV
      544 12  -  S’pore-listed firm eyes setting up network of plants in Asia By Cai Haoxiang haoxiang@sph.com.sg Singapore LOCAL construction and property firm Tiong Seng Holdings signed a joint-venture agreement yesterday to set up a precast plant in Yangon, Myanmar. Tiong Seng will take a 30
      544 words
    • Article, Illustration
      Lock icon Delifrance plans 8-10 more outlets
      412 12  -  By Livia Yap liviayap@sph.com.sg Singapore Singapore DELIFRANCE intends to open eight to 10 outlets across Singapore in the next 12 months to increase its market share as the “biggest French-themed cafe” in the Republic. The French bakery cafe chain also plans to enter five other
      PHOTO: YEN MENG JIIN  -  412 words
    • Article
      Lock icon Ezra’s Q3 earnings plunge 68% despite one-off gain
      502 12  -  By Lee Meixian leemx@sph.com.sg Singapore NOT even a US$67 million gain from disposing its Ezion shares could keep Ezra Holdings’ earnings from plunging 68 per cent in its third quarter. The marine group yesterday posted a net profit of US$7.2 million for
      502 words
    • Article
      Lock icon Kingsmen secures deals worth $75.4m for theme park and F1
      263 13  -  $31 m F1 Singapore contract; $44.4m for theme park in China By Ong Chor Hao ongch@sph.com.sg Singapore MAINBOARD-LISTED Kingsmen Creatives has clinched deals worth a combined $75.4 million which are expected to contribute to the company’s performance over the next
      263 words
    • Article
      Lock icon Keppel reaps results from its green efforts
      484 13  -  By Teo Si Jia teosj@sph.com.sg Singapore KEPPEL Group’s environmental sustainability efforts have paid off with a sharp reduction in its energy and water consumption and waste. In its sustainability report for 2012, the group recorded a 21.4 per cent drop in direct energy
      484 words
    • Article, Illustration
      Lock icon KrisEnergy aims to raise $256.6m from IPO
      680 13  -  By Lynn Kan lynnkan@sph.com.sg Singapore WHEN KrisEnergy, an independent exploration and production (E&P) company with oil and gas assets in Cambodia, Thailand, Vietnam and Indonesia, lists on the Singapore Exchange (SGX) mainboard on July 19, it will mark its return to its roots.
      PHOTO: KRISENERGY  -  680 words
    • Article, Illustration
      Lock icon Fed’s assurance on QE3 the main trading theme
      628 14  -  STOCKS R Sivanithy sivan@sph.com.sg Senior Correspondent THE state of the United States economy and whether or not the Federal Reserve will continue feeding liquidity into the system via its QE3 programme provided the main theme for this week’s trading. If the economy
      628 words
    • Article
      Lock icon S’pore Kitchen Equipment offers shares
      290 14  -  By Livia Yap liviayap@sph.com.sg Singapore KITCHEN solutions provider Singapore Kitchen Equipment Limited (SKE) has launched its initial public offering (IPO) for a Catalist listing. It is looking to raise about $3.3 million in net proceeds from the offer of 23 million new shares at 20
      290 words
    • Article
      Lock icon TOP 20 ACTIVES
      175 14 VOL CLOSE S i ngHa i y i R 816,448 0.4 0.0 0 0 Mirach Energy 273,368 38.5 4.5 1 0 5 YHM 1 66,509 4.2 0.2 5 0 HanKore 1 44,180 4.8 0.2 4 0 New Wave 63,451 2.1 0.0 0 0 S i ngHa i
      175 words
    • Article
      Lock icon STI STOCKS
      110 14 Stock name Close Change CapMallsAsia 1.925 CapitaLand 3.160 -0.030 CapitaMall 2.010 CityDev 10.980 -0.010 ComfortDelGro 1.920 -0.005 DBS Grp 16.380 -0.130 GLP 2.840 -0.040 Genting SP 1.350 -0.015 Golden Agri 0.565 -0.005 HK Land 6.750 -0.010 HPH Trust US$ 0.760 +0.005 JMH 60.090 +0.250 JSH 37.620 +0.770 Jardine
      110 words
    • Article
      Lock icon TOP GAINERS
      62 14 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 329.6 2.6 DBXT MSTHAI 10US$ 2120 121.3 4.7 JSH 3762 97.3 2.1 DBXT FTVietnam 10US$ 2293 79.6 2.8 DBXT MSKorea 10US$ 5393 56.8 0.8 IS S&P500 ***** 37.9 0.2 JMH 6009 31.6 0.4 DBXT MSINDO 10us$ 1520 29.1 1.5 Lyxor
      62 words
    • Article
      Lock icon TOP LOSERS
      60 14 BY CENTS CLOSEDOWN GLD 10US$ ***** -140.2 -0.9 UOB 2088 -27.0 -1.3 Lyxor China H 10US$ 1260 -25.3 -1.6 Jardine C&C 4155 -25.0 -0.6 UOB 5.05%NCPS 100 ***** -25.0 -0.2 DBXT CSI300 10US$ 717 -16.4 -1.8 DBXT S&P Short 10US$ 2915 -13.9 -0.4 DBS Grp 1638 -13.0 -0.8
      60 words
    • Article
      Lock icon Frasers Hospitality spreading China wings
      315 14  -  Presence set to double; Fraser Suites Guangzhou opens By Mindy Tan tanmindy@sph.com.sg Singapore FRASERS Hospitality is on target to double its presence in China to 23 properties, thereby strengthening its presence in Beijing, Shanghai, Guangzhou, and Shenzhen, as well as key secondand third tier cities,
      315 words
    • Article
      Lock icon Nasdaq OMX cheapest target for acquirers
      816 15 It has lowest P/E ratio among exchanges valued at over US$5b even after surging 33% this year Bloomberg Sao Paulo WITH the takeover of NYSE Euronext poised to close, buyers seeking the next exchange purchase will find no cheaper target than Nasdaq OMX Group
      Bloomberg  -  816 words
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  • Page 15 Advertisements
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      Lock icon Page 15 Advertisements Column 1
      66 15 Check out these positions and 500 more in CATS Recruit today! Colex Environmental is recruiting a Senior Human Resource Executive MSD has a vacancy for a Logistics Director Singapore Sports School has a position open for a General Manager, Bowling Academy Courts is hiring a Financial Analyst Thomson Medical Centre
      66 words
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      Lock icon Page 15 Advertisements Column 2
      37 15 FM klSS 92 All the great songs in one place jOk CMcJrt a fass Catch the Nissan-Kiss92 Kiss Mobile for car decals and great prizes! Tune in to Kiss92 for more details! kiss92.sg D facebook.com/kiss92fm Q @kiss92fm
      37 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Keep up or lose out
      1060 16  -  FROM THE DESK OF Customer-centric service is what sets apart a so-so retailer from a stellar one Tim Luce Country CEO, Courts Singapore TODAY, the shopper’s agenda is very different from what it was 20 years ago. Having seen the transformation/evolution of the consumer buying
      1,060 words
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  • SINGAPORE
    • Article
      Lock icon Visa jumps out of taxi over surcharge dispute
      486 17  -  Visa’s cards no longer accepted in all ComfortDelGro and Trans Cab taxis from next Monday By Malminderjit Singh msingh@sph.com.sg VISA’S tagline “More people go with Visa” may be catchy, but it seems that most taxi passengers in Singapore will soon be unable
      486 words
    • Article, Illustration
      Lock icon Siemens raises $190,000 for charity
      175 17  -  By Teo Si Jia teosj@sph.com.sg SIEMENS has extended its support to the President’s Challenge with a donation of $190,000 this year, bringing its total contribution to the charity fundraiser to $1.8 million, since 2003. The number was raised from the efforts of its employees and
      175 words
    • Article, Illustration
      Lock icon S’pore is second priciest for foreign home buyers
      417 17  -  But annual cost of owning a property in Singapore is still favourable By Annabeth Leow leowhma@sph.com.sg REGULATORY measures taken to cool the property market have raised the purchase costs of luxury residential developments to the second-highest in the world for foreign buyers.
      Source: Knight Frank Research  -  417 words
    • Article, Illustration
      Lock icon Public service veteran takes over as SICCI’s chief exec
      421 18  -  He takes helm after a slew of resignations at the chamber early this year, including that of previous CEO Sanjay Chowdhury in March By Malminderjit Singh msingh@sph.com.sg KUMARAN Barathan signed in as the new chief executive officer of the Singapore Indian
      421 words
    • Article
      Lock icon CEOs must take lead in promoting diversity and gender equality
      465 18  -  Women are still under-represented in middle and senior management By Annabeth Leow leowhma@sph.com.sg COMPANIES serious about helping women to break the glass ceiling must lead the charge themselves. This was the prevailing message at a CEO panel on the “gender
      465 words
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      259 18 THE BUSINESS TIMES SATURDAY SPECIAL Sweet treats on the house! A drink and Italian gelato with any order* Pizza Carnivora Spaghetti al Frutti di Mare Venue: Bel Mondo Singapore South Italian Cuisine, 9 Raffles Boulevard, #01-09/10, Millenia Walk, Singapore *****6 Tel: 6336 3348 Website: www.belmondo.com.sg Please present this original advertisement
      259 words
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  • WORLD
    • Article, Illustration
      Lock icon US, China to hold investment treaty talks
      638 19 Jacob Lew: Pact to include all sectors and stages of investment NYT Washington THE US and China will start negotiating a sweeping bilateral investment treaty, which could open vast sectors of each economy to investments from the other side, officials announced on Thursday.
      NYT; PHOTO: REUTERS  -  638 words
    • Article
      Lock icon India urged to halt policies affecting US firms
      476 19 Reuters Washington US Trade Representative Michael Froman urged India to reverse course on policies that he said discriminated against American companies and were fraying relations between the world’s two largest democracies. “Let me stress that as a friend of India and one
      Reuters  -  476 words
    • Article
      Lock icon China may scrap floor for bank rates: report
      354 19 Reuters Shanghai CHINA may scrap the official floor under banks lending rates as the first major step to liberalise its interest rate regime, the official China Securities Journal reported yesterday, as regulators signal accelerated reforms to cope with distorted capital flows and
      Reuters  -  354 words
    • Article, Illustration
      Lock icon Hillary Clinton goes from diplomat to speechmaker
      527 20 US$200,000 for quirky reflections and ‘Mitch Albom-style’ lessons from her political career NYT New York JUST a few months after leaving the State Department, Hillary Rodham Clinton has plunged into the lucrative world of paid speechmaking, joining a branch of the family business
      NYT; PHOTO: AP  -  527 words
    • Article
      Lock icon UK govt ‘bamboozled’ by banks
      439 20 Ex-BOE official also calls Barclays a poster child for excess leverage Bloomberg London ROBERT Jenkins, a former member of the Bank of England’s (BOE) Financial Policy Committee (FPC), has said that banks have wrongly convinced government that measures to improve the safety of the financial
      Bloomberg  -  439 words
    • Article, Illustration
      Lock icon India’s industrial output shrinks 1.6% in May
      518 21 Data adds pressure on government to revive economy as sliding rupee curbs scope for more rate cuts Bloomberg New Delhi INDIA’S industrial output contracted unexpectedly in May, adding pressure for more government steps to revive the struggling economy as a sliding rupee curbs
      Bloomberg; PHOTO: AFP  -  518 words
    • Article
      Lock icon More foreign firms eyeing yuan in trade settlements
      367 21 But lack of investment products in the currency may constrain wider usage: Bank of China poll Reuters Beijing MORE foreign companies want to use China’s yuan currency in trade settlements with the world’s sec-ond-largest economy, though a lack of investment products in
      Reuters  -  367 words
    • Briefing
      • Article
        Lock icon Thein Sein approves law on central bank autonomy
        88 21 Reuters Yangon Myanmar’s president has signed a law giving the central bank more autonomy from the Finance Ministry and opening the way for development of the fledgling banking sector. The law is part of a series of reforms pushed through by the
        Reuters  -  88 words
      • Article
        Lock icon S&P affirms triple-A rating for German sovereign debt
        77 21 AFP Frankfurt Credit rating agency Standard Poor’s (S&P) affirmed yesterday the top-notch triple-A rating for German sovereign debt, saying Europe’s top economy could withstand any shocks from the eurozone crisis. S&P also affirmed its stable outlook for Germany’s rating, meaning no downgrade
        AFP  -  77 words
      • Article
        Lock icon Nokia unveil smartphone with 41-megapixel camera
        59 21 AFP New York City Finland’s Nokia has unveiled its latest smartphone with a powerful 41-megapixel camera touted as offering “more detail than the eye can see”. The Win-dows-powered Lumia 1020 smartphone has six physical lenses and optical image stabilisation, and can handle sound pressure
        AFP  -  59 words
      • Article
        Lock icon No more cuts in Europe production capacity: Ford
        81 21 Bloomberg Dearborn, Michigan Ford Motor, targeting an end to losses in Europe, said it doesn’t plan further reductions in its production capacity there and sees signs that the market is beginning to stabilise. Ford’s Europe chief Stephen Odell said the company plans
        Bloomberg  -  81 words
    • Article
      Lock icon Japan stocks to fare better than peers in Asia
      531 22 Regional markets in general are buffeted by slowing growth in China and America’s move to taper stimulus programme Reuters Tokyo JAPAN’S aggressive reflationary policies will help its share market fare better than its Asian peers, weakened by concerns that China’s growth
      Reuters  -  531 words
    • Article, Illustration
      Lock icon Ferragamo, Tod’s most likely to be on M&A shopping list
      763 22 Cucinelli may lure buyers with growth opportunities in China Bloomberg Paris AFTER LVMH Moet Hennessy Louis Vuitton SA’s deal for clothier Loro Piana SpA, Italian luxury companies from Salvatore Ferragamo SpA to Tod’s SpA may be the next targets for
      Bloomberg; PHOTO: SALVATORE FERRAGAMO  -  763 words
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  • SGX
    • Article
      Lock icon SGX MAINBOARD
      8167 23 Transaction date: Jul 12 Transaction date: Jul 12 Transaction date: Jul 12 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 15 11.4 8Telecom 12.1 12.1 12.9 10.6 0.9 10 57.9 8.8 3 A-Sonic
      8,167 words
    • Article
      Lock icon SGX CATALIST
      1836 26 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21.5 17.1 t 800 Super 19.5 19.2 21 3.3 5.1 5.8 34.9 6.2 2.8 t AA Grp 2.8 2.8 5 140 2.7 24.4 12.3 t
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      Lock icon SECURITIES TRADING SCOREBOARD
      186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 6 3 0 0 0 6 6 3 Manufacturing 45 54 46 7 11 6 52 65 52 Commerce 22 20 19 4 6 5 26 26 24 Tpt/Stor/Comms 12 16 11
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      Lock icon BT SHARE INFORMATION SERVICE
      782 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Jul 8 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Kori Hldgs 11-Jul-13 Nobuaki Kori Sell ***** 0.32 ***** 31.60 ***** 20.60 KS Energy 10-Jul-13 Kris Taenar
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      Lock icon SECURITIES TRADING TURNOVER
      121 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 19,251 19,251 59,415 59,415 Manufacturing 233,091 96,986 330,077 117,514 7,749 125,263 Commerce 89,826 30,692 120,518 71,215 2,531 73,746 Tpt/Stor/Comms 81,818 57,922 139,740 131,768 20,376 152,144 Finance 52,781 10 52,791 123,260 4 123,264 Construction 45,832 169,335
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  • MARKETS
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      Lock icon LIFFE
      94 27 Jul 11 COCOA (£/tonne) Close Prev High Low Jul 13 1520 1491 1522 1496 Sep 13 1549 1516 1550 1521 Dec 13 1542 1518 1544 1524 Mar 14 1535 1513 1536 1516 COFFEE(US$/tonne) Close Prev High Low Jul 13 1855 1859 1888 1860 Sep 13 1883 1872 1888 1850
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      Lock icon METALS
      67 27 Jul 12 GOLD(US$/oz) Jul 12 Jul 11 Hong Kong 1290.20 1297.50 Jul 11 Jul 10 London 1280.16 1257.16 1280.93 1257.93 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 25.74 24.97 Source: UOB PLATINUM Lon (US$/oz) Jul 11 Close Previous PM Fix 1401.00 1370.00 AM Fix 1401.00 1364.00 Source:
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      Lock icon PALM OIL
      57 27 Jul 12 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 13 2330.0 2330.0 2332.0 2330.0 5 601 Aug 13 2365.0 2309.0 2369.0 2308.0 3042 ***** Sep 13 2356.0 2301.0 2358.0 2295.0 ***** ***** Oct 13 2346.0 2293.0
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      Lock icon GOVERNMENT SECURITIES
      90 27 Jul 12 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*****W 10-Jan-14 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-15 100.05 100.11 100.10 5-Year N*****0T 0.5
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      Lock icon INTERBANK CURRENCY RATES
      155 27 Jul 12 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1563 1.1572 0.9155 0.9159 Canadian dollar 1.2182 1.2192 0.9650 0.9645 Euro 1.6468 1.6479 1.3039 1.3042 NZ dollar 0.9927 0.9937 0.7860 0.7865 Sterling pound 1.9116 1.9127 1.5135 1.5138
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      Lock icon FOREIGN CURRENCY NOTE RATES
      118 27 Jul 12 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.180 1.124 Can dollar 1.237 1.190 Euro 1.689 1.609 Sterling pound 1.950 1.875 NZ dollar 1.010 0.972 US dollar 1.286 1.225 Local dollars to 100 units of foreign currency: Currencies Sell
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      Lock icon CHICAGO BOT
      104 27 Jul 11 SOYBEANS(5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jul 13 1601.25 1591.75 1610.50 1580.00 Aug 13 1472.00 1464.75 1476.50 1460.00 Sep 13 1332.50 1329.00 1338.00 1318.25 Nov 13 1290.75 1284.75 1293.75 1272.00 SOYBEAN OIL(60,000 lbs; USc/lb) Close Previous High/Low Jul 13 46.49 46.98 47.23 46.82
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      Lock icon STOCK MARKETS
      2 27
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      Lock icon OIL
      68 27 Jul 11 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 107.32 -0.20 WTI (Near Mth) 104.72 -1.42 Dubai (1-Mth F) 103.35 -0.06 Tapis blend 113.02 -0.05 Minas 107.32 -0.05 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 99.56 0.45 Jet Kerosene 121.69 0.25 US$/barrel OpecOil Basket Price 104.81
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      Lock icon LONDON METALS
      72 27 Jul 11 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1791.25 1773.00 3 months 1835.00 1818.00 Copper, Grade A (US$/tonne) Cash 6992.00 6818.00 3 months 7000.00 6825.00 Lead (US$/tonne) Cash 2066.50 2056.25 3 months 2080.00 2072.00 Nickel (US$/tonne) Close Previous Cash *****.50 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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      Lock icon MORGAN STANLEY CAPITAL INT’L INDICES
      373 27 In local curr In S$ In US$ dy yr dy yr dy yr Jul 11 Index Change Change Change Change Change Change World Preliminary 1077.2 0.8 14.8 0.3 15.2 1.4 11.6 EAFE Preliminary 880.9 0.6 13.7 0.7 10.3 1.8 6.8 Europe Preliminary 1243.1 0.6 8.4
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  • PERSPECTIVE
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      Lock icon Time to relook foreign aid schemes
      1099 28 / 29  -  They may not be the best way to eliminate extreme poverty, and their overall impact remains dubious. By Meghnad Desai By Meghnad Desai ~The writer, a member of the UK’s House of Lords, is professor of economics at the London School of Economics Project
      Project Syndicate; PHOTO: AP  -  1,099 words
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      Lock icon India’s controversial food bill won’t provide food security
      957 28 / 29  -  By Neeta Lal The writer is a New Delhi-based journalist THE controversial National Food Security Bill (NFSB) passed by the Indian Parliament last week proposes to make food a legal right for two-thirds of India’s 1.2 billion people. The world’s biggest food
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  • WEALTH INVESTING
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      Lock icon Passing the repayment buck to bond insurers
      1237 30 / 31  -  Detriot plans to pay less than 20 cents to the dollar on US$2b of unsecured debt, jeopardising the sector’s recovery. By Darrell Preston and Steven Church By Darrell Preston Steven Church Bloomberg Dallas ETROIT’S bid to stick investors with losses as part of
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    • BROKERS’ TAKE
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        Lock icon AusGroup
        337 30 / 31 Sell DMG Partners Research July 12 July 12 close: $0.375 AUSGROUP sold its Tuas waterfront property to Boustead Singapore for S$39.4 million versus its S$21.7 million book value, but has deferred the profit recognition. While there is a 55 per cent divergence in both companies’ reported market values, we
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        Lock icon Vard Holdings Limited
        319 30 / 31  -  Compiled by Teh Shi Ning Sell OCBC Investment Research July 12 July 12 close: $0.84 VARD Holdings Limited (Vard)’s Q2 2013 results came in below ours and the street’s expectations, despite issuing a profit warning earlier. The group reported a net loss of NOK20 million (S$4.1 million)
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      Lock icon Structured notes getting popular in M’sia: Deutsche
      517 32 Sales of the products mostly to wealthy individuals surged in H1 from a year ago Bloomberg Hong Kong DEUTSCHE B an k AG t h e fourth-biggest issuer of structured notes globally outside the US, says that increasing comfort with the products is
      Bloomberg; PHOTO: AFP  -  517 words
    • Article
      Lock icon Better protection under M’sia’s new Islamic finance laws
      678 32 Reuters Kuala Lumpur NEW laws governing Malaysia’s Islamic finance sector will boost protection for depositors by making religious advisers legally accountable for financial products, and liable to steep fines and prison time for wrongdoing. The new rules also include a plan to
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      Lock icon Stay strong and keep herd mentality at bay
      1524 33  -  Understanding the worth of the business is key, especially when the share price slumps below intrinsic value SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior Correspondent A friend gave me the book The Value Investors: Lessons from the World's Top Fund
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      65 30 / 31 Disclaimer: All analyses, recommendations and other information herein are published for general information. Readers should not rely solely on the information published and should seek independent financial advice prior to making any investment decision. The publisher accepts no liability for any loss whatsoever arising from any use of the information
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  • WEALTH REAL ESTATE
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      Lock icon Missing addresses, keys hamper Spain’s ‘bad bank’
      567 34 Muddle risks delaying asset sales; paring the amount of money Sareb can salvage Reuters Madrid SPAIN’S “bad bank” not only has to sell the soured property loans and unwanted housing it took on from the country’s rescued lenders it first has to find
      Reuters; PHOTO: REUTERS  -  567 words
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      Lock icon Househunt
      473 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN JUNE 12 AND JUNE 18, 2013 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED Marina Bay Suites Apt 12/06/2013 99 2045 6244 3053 District 2 NON-LANDED Skysuites Anson
      473 words
    • Article
      Lock icon Distressed investors weigh Irish option
      1023 35 Investments are being limited as large owners of buildings and loans hold onto assets amid recovery in central Dublin, restricting supply Bloomberg London DUBLIN, where commercial property values dropped 65 per cent during Western Europe’s worst real estate crash, should be a feasting ground for
      Bloomberg  -  1,023 words
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      Lock icon HK home prices down the most since 2008
      382 35 They fall 1.8% on fears of rising interest rates due to the US Fed’s phasing out of monetary easing Bloomberg Hong Kong HONG KONG home prices fell the most in four-and-a-half years in the week ended July 7, on concerns that interest
      Bloomberg; PHOTO: BLOOMBERG  -  382 words
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      129 36 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE GRANDE COMPLICATION IS THE ULTIMATE EXPRESSION OF THE WATCHMAKER’S ART. AUDEMARS PIGUET HAS BEEN MAKING SUCH COMPLEX PIECES CONTINUOUSLY SINCE 1882. ONE WATCHMAKER IS RESPONSIBLE FOR EACH WATCH IN ITS ENTIRETY THE 648 INDIVIDUAL PAR TS, THE DETAILED ASSEMBLY AND
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      59 1 LivingBTTHE BUSINESS TIMES WEEKEND JULY 13 14 2013 BRITS BREEZE INTO TOWN UK chefs plate up new taste sensations L2-5 PHOTO: ROCKSALT GROUP HOME GARDEN Accent on character L10-11 GADGETS Smartphone lowdown L15 DESIGN Edgy new furniture stores L6-8 MOTORING Hot new tickets to ride L18-20 STYLE Dion Lee razes
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  • BT Living
    • DINING
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        Lock icon Rule, Brittania!
        3795 2 / 3  -  Jason Athe ton’s planted his fl g here, Jam e Oliver’s setting up shop next week and compatriot chef Gordon Ramsay has recently dropped hints about launching a local branch too. What is it with UK chefs and their love of this island? Debbie Yong speaks to four
        PHOTOS: DEBBIE YONG; PHOTOS: ROCKSALT GROUP; PHOTOS: LIME HOUSE  -  3,795 words
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        Lock icon wine&dine
        712 4 / 5 with BTWeekend Peach Blossoms Level 5, Marina Mandarin Singapore 6 Raffles Boulevard Chicken Paradise July 2013 Peach Blossoms Chinese Executive Chef Chan Shun Wong impresses us once again with 9 a la carte dishes using chicken as the main ingredient. Be it poached, steamed, roasted or deep-fried, enjoy this
        712 words
    • DESIGN
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        Lock icon DECOR DEBUTS
        2173 6 / 7  -  New entrants to the interior design realm are bringing edgy new ideas to the design table by scouring the globe for premium decor items. By Tay Suan Chiang taysc@sph.com.sg Blackhole Lighting Parkmall, B1-21 Hours: 11am to 8pm www.blackholelighting.com WHEN it comes to shopping for lighting, there are usually
        PHOTOS: BLACKHOLE LIGHTING; PHOTOS: KI-MONO.NET; PHOTOS: WOOD HOOD, IMHOMM  -  2,173 words
    • STYLE
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        Lock icon Sculpted couture
        1049 9  -  Australian designer Di n Lee’s la est body-conscious resort collection, Oil Water, essays duality and treads a fine line between experimental and mainstream. By May Yip btnews@sph.com.sg SOFT-SPOKEN, pensive and exceedingly polite, the bespectacled Dion Lee isn’t quite the archetypal twenty-something fashion wunderkind. While some of his body-conscious
        PHOTOS: DION LEE  -  1,049 words
    • HOME & GARDEN
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        Lock icon Blown away by the view
        1183 10 / 11  -  What Geri Murphy loves about her Pasir Panjang apartment is that every room looks out to the sea. personal space By Tay Suan Chiang taysc@sph.com.sg FIRST-TIME visitors to Geri Murphy’s home often wonder if she gave them the right address. To get there, you have
        PHOTOS BY JOSEPH NAIR  -  1,183 words
    • TRAVEL
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        Lock icon Private Private eco-playground
        1480 12 / 13  -  Nihiwatu Resort adopts an Earth-friendly stanc for both the environment and community. By Natalie Koh btnews@sph.com.sg ~The writer’s trip was sponsored by Ayana Resort and Spa Bali, Lightfoot Travel and Nihiwatu Resort Sumba Indonesia. Lightfoot Travel is a luxury tour operator specialising in family holidays, honeymoons, corporate
        PHOTOS: NATALIE KOH, NIHIWATU RESORT  -  1,480 words
    • HEALTH
      • Article, Illustration
        Lock icon Good cholesterol not as good as believed
        1231 14  -  Studies fail to show a convincing beneficial reduction in heart attacks and strokes with elevation of HDL-C. By Michael Lim By Michael Lim ~Dr Lim is medical director at the Singapore Heart, Stroke Cancer Centre. He is also editor-in-chief, Heart Asia (a journal
        PHOTO: STOCK. XCHNG  -  1,231 words
    • GADGETS
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        Lock icon Beating their own path
        672 15  -  Top brands show how no two touchscreens are alike, packing a wallop with innovative features. By Christopher Lim By Christopher Lim limchris@sph.com.sg Samsung Galaxy S4 Active With LTE $898 without contract SAMSUNG’S Galaxy S4 is already a hit with shoppers, but the Korean brand is not
        672 words
    • SPORTS
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        Lock icon Champs face tough Thai test
        875 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg Correspondent AND so the David Moyes era at Manchester United begins proper tonight. It may only be an exhibition match on paper, but the 50-year-old Scot will want to get his managerial stint off to a winning start in
        PHOTOS: AP, ST FILE PHOTO  -  875 words
    • GOLF
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        Lock icon Gearing up for the League tee-off
        951 17  -  The fourth edition of the BT Corporate Golf League starts next week on the Laguna Masters Course, a venue known for the difficulty of its closing holes. By Justine Moss btnews@sph.com.sg NEXT week sees the highly anticipated first round tee-off of the 2013 Business
        951 words
    • MOTORING
      • Article, Illustration
        Lock icon FORE!
        712 18  -  Warning: the new Volkswagen Golf GTI is even faster now. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THE Volkswagen Golf GTI is arguably the best packaged hot hatch on the market, the one that offers the most driving fun for money. This near-premium hatchback may not be an outright
        712 words
      • Article, Illustration
        Lock icon Electrifying performance
        668 19  -  The new Porsche Panamera E-Hybrid with plug-in technology is as powerful as a V8 model. By Samuel Ee By Samuel Ee samuelee@sph.com.sg IT is safe to say that the Porsche Panamera is acknowledged to have a very sporty character. This big, four-door limousine can seat four passengers but
        668 words
      • Article, Illustration
        Lock icon ESTATE OF THE ART
        619 20  -  For young families, the refreshed Mercedes-Benz E250 Estate is a more stylish alternative to the MPV. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THERE is something about the form and function of an estate that evokes feelings unique to this bodystyle. The station wagon’s ability to
        619 words
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      143 15 THE SOUND VISION SPECIALIST AV ONE 201 3 COLLECTIONS 11-“= Zikmu designed by Philippe Starck Now: $2,688 Black,White, Red Available Subsidiary Company One Living BESPOKE INTERIORS Design Renovation Construction For enquiries please call: KH 8323 8787 Angela 8612 8787 www.oneliving.com.sg Custom AV Room Feature Wall Design Demon Marantz Onkyo AV
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      23 17 ~The first round of the 2013 BT Corporate Golf League tees off on Laguna National Golf Country Club’s Masters Course on July 18
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      38 17 HOME N S m r. l/l/hy risk breaking your back? Leave the painting job to the professionals. To find out more, turn to CLASS 112 in CATS Classified in r The Straits Times now. BUY IT-SELL IT-FIND IT
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