The Business Times, 24 August 2013

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Microfilm: NL32679
Total Pages: 47
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    20 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g AUGUST 24-25, 2013 S$1.00 MCI (P) 086/08/2013 SfJl A SINGAPORE PRESS HOLDINGS PUBLICATION
    20 words
  • Article, Illustration
    Lock icon Golf club membership prices hit by lease doubts
    975 1  -  By Ven Sreenivasan ven@sph.com.sg Singapore THERE is a five-letter word which is weighing heavily on prices of golf club memberships in Singapore. And that word is lease. The recent showdown at Raffles Country Club (RCC), where members defeated a motion for a
    FILE PHOTO  -  975 words
  • Article
    Lock icon First-time car buyers disappearing fast
    574 1  -  After financing restrictions kicked in, not many can afford the hefty downpayment By Samuel Ee samuelee@sph.com.sg Singapore IT APPEARS the first-time car buyer is becoming a rare species in Singapore, saved from extinction only by wealthy parents. According to some motor distributors here, the number
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      Lock icon Page 1 Advertisements Column 1
      58 1 the business www. usinesstimes.com. THE RAFFLES CONVERSATION NOBEL LAUREATE ERIC MASKIN 10-11 MOTORING Volkswagen’s Tiguan R -Line L18 SHOW ME THE MONEY The relative value of investments 33 9 y m CO-AXIAL EXHIBITION A TALE OF PERFECTION 24 th August 1 st September 2013 10:30am 8:00pm Paragon Shopping Mall, Main
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      4 1 LIVING Nordic evolution L2-4
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  • TOP STORIES
    • Article, Illustration
      Lock icon Singapore CPI inches up to 1.9% in July
      969 2  -  Economists warn that restructuring pains and tight labour market will push it over 2% soon By Kelly Tay kellytay@sph.com.sg Singapore INFLATION in Singapore inched up slightly to 1.9 per cent in July from 1.8 per cent in June, as private road transport
      Source: Department of Statistics  -  969 words
    • MARKETS
      • Article
        Lock icon STOCKS
        58 2 HSTI 3,088.85 (-0.55) ESTI FUTURES 3,085.00 GSIMSCI 350.40 (+0.02) HSIMSCI FUTURES 349.20 (-0.50) STOCKS Friday Change KL COMP 1,721.07 +0.70 NIKKEI 225 13,660.55 +295.38 HANG SENG 21,863.51 -31.89 SET 1,338.13 -13.68 JAKARTA 4,169.83 -1.59 MANILA 6,161.21 +24.48 KOSPI 1,870.16 +21.04 SHENZHEN B 806.28 -5.24 MUMBAI IND 18,519.44 +206.50 12noon
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.387 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
        49 2 FOREX US$ S$ US$ (S$ per US$) 1.281 (US$/S$ per 1.559 1.997 EURO(US$/S$/€ 1.335 1.710 Foreign currency per US$ S$ YEN 99.00 77.30 RM 3.309 2.582 HK$ 7.755 6.053 BAHT 31.98 24.96 RUPIAH 10,785 8,418 RENMINBI 6.122 4.778 INDIAN RUPEE 64.55 50.38 A$ 1.112 0.868 NZ$ 1.281 1.000
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    • Article, Illustration
      Lock icon DPM: S’pore is in a good place, heading for an even better one
      601 3  -  By Lee U-Wen leeuwen@sph.com.sg Singapore PAINTING a picture of the Singapore of the future, Deputy Prime Minister Tharman Shanmugaratnam yesterday hailed the country as stronger than many other developed nations, with policies being put in place for
      FILE PHOTO  -  601 words
    • Article
      Lock icon Proposed changes to EOI raise concerns
      656 4  -  Sources worry that removing the court order process would dilute Singapore’s attractiveness as a trust jurisdiction By Genevieve Cua gen@sph.com.sg Singapore TRUST industry associations have expressed “serious” concerns over the move to allow tax authorities to obtain bank and trust information from Singapore financial
      656 words
    • Article, Illustration
      Lock icon EPL bro-mance stirs up male angst
      857 5  -  SATURDAY SOAPBOX Joyce Hooi joyceh@sph.com.sg Correspondent OVER the last two weeks, the average Singaporean man has set his Gillette down on his bathroom counter and looked up at the mirror, haunted by an existential crisis that he now shares with his fellow men. What
      PHOTO: AP FILE PHOTO  -  857 words
    • Article, Illustration
      Lock icon US probe highlights hiring of Chinese ‘princelings’
      767 6 The key question is whether such hires amount to an illegal bribe AFP Shanghai FOREIGN investment banks in China were taken by surprise by a US bribery probe into JPMorgan’s hiring of Chinese “princelings” in part because the practice is so widespread. The
      AFP; PHOTO: REUTERS  -  767 words
    • Article, Illustration
      Lock icon Microsoft’s Ballmer announces retirement
      578 7 He will leave within next 12 months, once a special committee has selected a new CEO Reuters Bloomberg New York MICROSOFT Corp chief executive Steve Ballmer unexpectedly announced his retirement yesterday, ending a controversial 13-year reign at the head of the world’s largest software company and
      Reuters; Bloomberg; PHOTO: REUTERS  -  578 words
    • Article
      Lock icon Indon businesses expect slowest GDP growth in 4 years
      719 7  -  By Jeffrey Hutton btworld@sph.com.sg Jakarta AFTER a week in which the rupiah is reduced to levels unseen since 2008, billions are erased from the stock exchange and inflation is crimping people’s buying power, Indonesian business leaders and politicians are steeling themselves
      719 words
    • Article, Illustration
      Lock icon Local firm takes bird’s nest from delicacy to dermacare
      687 8  -  Purer Skin receives $589,000 in grants to widen its range of products By Annabeth Leow leowhma@sph.com.sg Singapore PROMISES made in primary school to stay friends forever rarely last, but De La Salle Primary alumni Patrick Tan and Chua Teck Hiong have
      PHOTO: ARTHUR LEE  -  687 words
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      58 2 CONTENTS LIVING Dining L2-7 Style L8-9 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 Home Garden L10-11 Wine L12-13
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  • Page 3 Advertisements
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      143 3 4* THE TIMES OF INDIA Presents REALTY INDIA The Biggest INDIAN Realty Show in SINGAPORE •50 TOP BUILDERS ACROSS INDIA •600+ PROJECTS •LUXURY APARTMENTS, VILLAS, RESIDENTIAL PLOTS •RIGHT TIME TO INVEST AS RUPEE VALUE IS LOW •GRAB THE BEST BENEFITS ON NRI INVESTMENT Date 24 th (Sat) 25 th (Sun)
      143 words
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  • Page 5 Miscellaneous
    • Miscellaneous
      Lock icon Page 5 Miscellaneous Column 1
      30 5 JACKPOT Estimated Draw on Mon, 26 Aug 2013 at 6.30pm For details, visit www.singaporepools.com.sg Ip yA Always play with care, [responsibly) Do not bet illegally. RGB Reg No: *****0202G SINGAPORE
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  • Page 6 Advertisements
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      25 6 I w LIGHTNING STRIKES CATCH THE ALL NEW NISSAN HOT FM91.3 THUNDER TRUCK TUNE IN TO HOT FM91.3 FOR MORE INFO WWW.HOTFM.SG FflCEBODK.COM/HOTFMSG 3* HOTFMSG
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  • Page 7 Advertisements
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      38 7 Big B2 JIG Factory Tuas D22j Land size: 231,583 sq feet r.Tenure: 28 years Building; 166,267tsq feeto] Riot Ratio 1.4 JERRY LUM Snr Marketing Director, MBA, CBS cea licence no: R *****6 D HP: 8288 0098 View: jerrylum.myweb.sg
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  • Page 8 Advertisements
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      62 8 The Finder Singapore DOWNLOAD TODAY! IT’S FREE .TheFmder.com.sg SHOPPING RESTAURANTS ik war. 1 f 77 ffindof MG IT ON/ udio dishing it up on Mohamed.sullan EAT WITH YOUR EYES Great restaurants in legendary local 'hoods WORKPLACE ETIQUETTE FOR SUCCESS dfcr HOW TO MAKE PRESCHOOL FUNFORKIDZi See Page 28 FREE DOWNLOAD
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  • WEEK IN REVIEW
    • THIS WEEK August 19-23, 2013
      • Article
        Lock icon Bold ideas to move S’pore forward
        68 9 PRIME Minister Lee Hsien Loong on Sunday mapped out moves in key areas of infrastructure, healthcare and education in what he described as “acts of faith” in Singapore and its people. He used the most important political speech of the year to make the
        68 words
      • Article
        Lock icon Wall Street may latch on to any good news to push ahead
        59 9 THE US stock market endured its biggest routs of the year last week after warnings from Wal-Mart intensified traders’ dread of the post-stimulus economic outlook. This week, more scares could be on their way from retail reports, housing
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      • Article
        Lock icon SGX plans to cut lot size to raise liquidity
        80 9 IN a move that might improve liquidity and entice retail investors back into the market, the Singapore Exchange (SGX) is proposing to reduce the standard size of securities traded from 1,000 units to 100 units, and one unit eventually. This means
        80 words
      • Article, Illustration
        Lock icon With spending set to rise, will taxes follow?
        108 9 ALL good things have to be paid for, Prime Minister Lee Hsien Loong said in his National Day Rally on Sunday night, raising the possibility of higher taxes. Observers think that taxes may be raised in the next couple of years with
        PHOTO: THE STRAITS TIMES  -  108 words
      • Article
        Lock icon As IT becomes simple, talent gets scarce
        54 9 THE IT industry is facing a serious shortage of talent and the situation will only get worse. This trend is emerging even as the IT processes that keep businesses humming and our daily lives smooth are becoming standardised and available in an almost
        54 words
      • Article
        Lock icon Indonesia back to future as overseas investors run for exit
        78 9 WHEN Bank Indonesia sold the country’s first tranche of 30-year bonds in 2005, it was greeted as a massive vote of confidence in a financial system that, just seven years earlier, was on the brink of collapse. Overseas investors piled
        78 words
      • Article
        Lock icon It’s a RRRout as rupee, rupiah, ringgit get hit
        55 9 PLUMMETING Asian currencies especially the Indian rupee and the Indonesian rupiah have raised the spectre of contagion as international investors tend to paint the region with the same brush. The Malaysian currency was also hit as some spoke of the RRR
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      • Article
        Lock icon S’pore forges EZ-Link with Guangdong
        67 9 ANYONE travelling between Singapore and Guangdong can soon use the same card to pay for transport and make purchases in both places. The world’s first dual-currency transport smartcard will be launched by EZ-Link and Guangdong Lingnan Pass Company in the first half of next year
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      • Article
        Lock icon ‘Septaper’ forecasts stay the course after Fed minutes
        78 9 REGIONAL investors hammered a few more boards into the windows as analysts kept their forecasts for “Septaper”, following a modest stay-the-course set of minutes from the latest US Federal Reserve policy meeting. The minutes “only reaffirmed what the markets already knew and
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      • Article
        Lock icon Yuan holds firm, but some investors get fidgety
        38 9 WHILE other Asian currencies have been getting battered, the renminbi stands out for its robust performance. Those who kept their faith in it now stand to enjoy a small windfall.
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      • Article
        Lock icon Confidence among smaller Chinese firms improves
        34 9 BUSINESS sentiment among small and medium-sized enterprises has improved after the government unveiled a raft of policies on railway investment, taxation and trade late last month, economists said.
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    • Article
      Lock icon NEXT WEEK Aug 26-30, 2013
      79 9 US DATA Aug 26 July durable orders Aug 27 Aug consumer confidence Aug 29 Q2 second estimate GDP Aug 30 July personal income SINGAPORE DATA Aug 26 July index of ind’l production Aug 29 July producer and int’l trade price indices CHINA DATA Aug 27
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  • Page 9 Miscellaneous
    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 1
      338 9 Across 1 But nettle-rash can erupt and gain the ascendancy (4,3,6) 10 Gets level, being faster (7) 11 Boasting about a number well done (7) 12 Born and died in poverty (4) 13 He will shortly ring to say this? (5) 14 Make an issue of time to return (4)
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    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 2
      10 9 SATURDAY with Ludwig ‘You never looked at me that way!’
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Engineering economics
      2229 10 / 11  -  The theory of “mechanism design” that won Harvard University don Eric Maskin a Nobel Prize plays a role in key economic policies of the day and indeed, is invoked every time economists talk of markets working or failing. By Anna Teo By Anna Teo anna@sph.com.sg TO most people,
      CIVIL SERVICE COLLEGE  -  2,229 words
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  • COMPANIES
    • Article
      Lock icon Sabana Reit buying Chai Chee property
      428 12  -  Light industrial building comes with $68.2m tag, including land premium By Vivien Shiao vshiao@sph.com.sg Singapore SABANA Reit plans to buy an industrial property in Chai Chee from Advanced Micro Devices for $59.5 million. The property, located at 508 Chai Chee Lane off Bedok North
      428 words
    • Article, Illustration
      Lock icon OCBC hires StanChart veteran as head of capital markets
      422 12  -  By Siow Li Sen lisen@sph.com.sg Singapore OCBC Bank is hoping to become a major debt capital market player by hiring a veteran from Standard Chartered Bank. Tan Kee Phong joined OCBC Bank as head of capital markets on Aug 15, the
      422 words
    • Article
      Lock icon Fair-value gain lifts Raffles Edu results
      270 12  -  By Annabeth Leow leowhma@sph.com.sg Singapore RAFFLES Education Corporation posted a net profit attributable to equity-holders of $26.7 million for the full year ended June 30, against a net loss of $66.3 million the preceding financial year. Revenue stood at $128.4 million, a 2 per
      270 words
    • Article
      Lock icon UOL plans to delist Pan Pacific Hotels Group
      156 12 UOL Group intends to compulsorily acquire all the remaining shares of Pan Pacific Hotels Group (PPHG) and delist the company, said UOL at the close of its exit offer yesterday. UOL received valid acceptances amounting to 100.0 million shares, representing about 16.67
      156 words
    • Article
      Lock icon Lion Teck Chiang posts 9.8% rise in FY13 profit
      317 13  -  Revenue up 9.1%, boosted by property development and steel segments By Mindy Tan tanmindy@sph.com.sg Singapore LION Teck Chiang’s net profit for the full year ended June rose 9.8 per cent to $36.8 million, while revenue rose 9.1 per cent to $190.9
      317 words
    • Article
      Lock icon 800 Super Holdings reports 3.4% fall in earnings
      300 13  -  Revenue up 10% but manpower expenses and levies go up By Mindy Tan tanmindy@sph.com.sg Singapore CATALIST-LISTED environmental services provider, 800 Super Holdings, saw net profit for the full year ended June slip 3.4 per cent to $5.7 million, while revenue rose 10.0
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    • Article, Illustration
      Lock icon Amtek’s Q4 net up on disposal gains
      386 13  -  By Jacquelyn Cheok jaccheok@sph.com.sg Singapore AMTEK, a precision engineering service provider headquartered in Singapore, yesterday posted a 25 per cent rise in fourth-quarter net earnings to US$10.85 million. The rise in net profit attributable to equity-holders for the three months ended June 30
      FILE PHOTO  -  386 words
    • Article
      Lock icon Bondholders fail in appeal against Berlian Laju’s revamp plan
      310 13  -  By Ven Sreenivasan ven@sph.com.sg Singapore THE Indonesian Supreme Court has rejected an appeal by bondholders of PT Berlian Laju who petitioned against its restructuring plan. The Singapore-listed company, whose stock has been suspended following its financial troubles, said yesterday that the
      310 words
    • Article, Illustration
      Lock icon Punters turn to pennies amid US tapering fears
      563 14  -  STOCKS| R Sivanithy sivan@sph.com.sg Senior Correspondent FEARS of US Federal Reserve tapering drove punters into penny stocks this week, leading to the somewhat perverse but not wholly unexpected outcome, where the local market’s main plays were speculatives priced below 10 cents. The
      563 words
    • Article
      Lock icon STI STOCKS
      114 14 Stock name Close Change CapMallsAsia 1.835 -0.035 CapitaLand 3.090 +0.020 CapitaMall 1.890 -0.005 CityDev 10.11 +0.030 ComfortDelGro 1.825 +0.015 DBS Grp 16.16 +0.100 GLP 2.700 +0.020 Genting SP 1.350 -0.010 Golden Agri 0.525 +0.005 HK Land 6.640 -0.090 HPH Trust US$ 0.735 JMH 55.63 +0.650 JSH 33.70 +0.600
      114 words
    • Article, Illustration
      Lock icon Alibaba mulling restructure for founders’ post-IPO control
      550 14 Reuters Hong Kong ALIBABA Group is considering a shareholding structure that would allow its founders and senior management to retain control over the board after the Chinese e-commerce firm goes public, people familiar with the matter said yesterday. Alibaba is widely expected to
      Reuters; BLOOMBERG FILE PHOTO  -  550 words
    • Article
      Lock icon TOP 20 ACTIVES
      199 14 VOL CLOSE WE H l dgs 359,300 6 1 0.8 1 5.1 A l bedo 305,947 3 9 0.2 4 .9 M i rach Energy 202,639 49 4 .5 1 0.1 Innopac 84,508 15 6 0.1 0.6 Ch i na Env 74 751 32 5 4 .5
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    • Article
      Lock icon TOP GAINERS
      62 14 TOP GAINERS BY CENTS CLOSE UP SPDRS S&P 500 10US$ ***** 265.2 1.3 JMH 5563 83.3 1.2 JSH 3370 76.9 1.8 GLD 10US$ ***** 70.5 0.4 DBXT MSEurope 10US$ 5388 65.3 1.0 DBS Bk 4.7% NCPS 100 ***** 49.0 0.5 DBXT FTChina25 10US$ 2766 23.1 0.7 DairyFarm 1093
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    • Article
      Lock icon TOP LOSERS
      64 14 BY CENTS CLOSEDOWN DBXT iBoxxSing 5SG$ ***** -579.0 -4.6 Jardine C&C 3600 -85.0 -2.3 DBXT STGLDv100 10US$ 2882 -56.4 -1.5 DBXT S&P Short 10US$ 2937 -43.6 -1.1 DBXT FTVietnam 10US$ 2268 -41.0 -1.4 DBXT MSTHAI 10US$ 1836 -29.5 -1.2 DBXT MSEmer 10US$ 366 -16.7 -3.4 DBXT CSI300 10US$
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    • Article, Illustration
      Lock icon Capitol Optical eyeing foreign forays
      736 15  -  It will start with a 3,000 sq ft concept store in Chengdu next month By Nisha Ramchandani nishar@sph.com.sg Singapore BASKING in the glow of a successful launch of its latest concept store in Suntec City, homegrown Capitol Optical is now planning to make the leap
      PHOTO: ARTHUR LEE  -  736 words
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  • Page 15 Advertisements
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      Lock icon Page 15 Advertisements Column 2
      70 15 H 0 T PROPERTY ™ms°3% yi 5l^ H Semi-d" too ps,.vlVC c 5 8 sfdomus full g lats]ift S 30m Wlth greenwa()/MRT 30m eco VIEW 1- 5PM cu 314-sty terr a hw Jo c diat. bathX 5000 d s r f mS(a,,with built-up. S3 XXM m0nster LOOKING FOR PROPERTIES THE
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon The pursuit of creativity
      1106 16  -  Developments in education will be key to helping Singapore generate continual innovation FROM THE DESK OF Dr R Theyvendran PBM, MDIS Secretary-General DESPITE the current global financial instability and economic crisis in Europe and other countries, innovation in business and industry is alive and ticking well.
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  • SINGAPORE
    • Article
      Lock icon Prima commits to rehiring workers till 68
      462 17  -  First unionised firm in F&B to do so; contracts, with no pay cut, offered to workers with satisfactory performance and health By Lee Meixian leemx@sph.com.sg PRIMA Ltd has become the first unionised firm in the food and beverage (F&B) industry to formally commit
      462 words
    • Article, Illustration
      Lock icon Bringing sunshine to more lives
      204 17 ABOUT 700 people attended the Dover Park Hospice Sunflower Ball on Wednesday evening, helping to raise $1.1 million for the facility. Held at Shangri-La Singapore, the event also saw the auction of a yellow diamond piece, donated by The Canary Diamond Company. It was created
      204 words
    • Article
      Lock icon AXA insurance for early-stage cancer, aftercare benefits
      442 17  -  Its medical assistance benefit ranges from $50,000 to $300,000 By Genevieve Cua gen@sph.com.sg AXA Life Insurance has launched what it says is the first insurance plan in the market that takes a “holistic” approach to cancer cover. The plan, dubbed “360° Cancer Care”,
      442 words
    • Article
      Lock icon Subcontractor awarded $446k damages in RWS rusty signs case
      651 18  -  But High Court also found Longyuan-Arrk was wrong to have withheld a final payment and a retention sum totalling more than $552,000 from Show Tell By Grace Leong gleong@sph.com.sg THE High Court awarded more than $446,000 in damages to a subcontractor
      651 words
    • Article
      Lock icon New Yishun hospital to house elder-care institute
      371 18  -  Geri will train healthcare professionals to care for the aged and research issues related to the elderly By Jasmine Ng jasng@sph.com.sg SINGAPORE'S Health Ministry will train elder-care workers at the new Yishun Community Hospital (YCH) as the nation seeks to manage its ageing
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  • Page 18 Advertisements
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      240 18 THE BUSINESS TIMES SATURDAY SPECIAL 1-FOR-1 Enjoy the second order of A lá carte Hot Stones main course on the house! (Usual Price from $38 to $88) Venue Hot Stones Steak and Seafood Restaurant, 3D River Valley Road, #01-06 Shophouse Row, Clarke Quay, Singapore *****3, Tel: 6333 4868 Website: www.hotstones.com.sg
      240 words
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  • WORLD
    • Article
      Lock icon Moody’s threatens to cut banks’ credit ratings
      711 19 A downgrade can make it harder for US financial firms to find buyers for debt, pushing up borrowing costs NYT New York BELIEVING that the US government is now more likely to let large banks fail in a crisis, Moody’s Investors Service has
      NYT  -  711 words
    • Article, Illustration
      Lock icon S Korea’s traditional markets get helping hand to go high-tech
      654 19 AFP Seoul SEOUL’S traditional markets bustling, narrow streets of small vendors selling cheap, fresh produce have largely opted out of the high-tech charge to make the South Korean capital one of the most wired cities on earth. But squeezed by
      AFP; PHOTO: AFP  -  654 words
    • Article, Illustration
      Lock icon Zombies haunt China’s shadow banking
      848 20 They suck up huge portion of new credit, while more productive borrowers are starved for funds Reuters Shanghai CALL it the new China Syndrome: Although Asia’s biggest economy is slowing down markedly, credit continues to surge. Dead-end projects and dying industries are sucking up an
      Reuters; PHOTO: REUTERS  -  848 words
    • Article, Illustration
      Lock icon Nasdaq shutdown brings half of US bourse to a halt
      605 21 Connectivity was disrupted between NYSE Arca and Nasdaq data processing unit Bloomberg New York A FAULTY connection between the two biggest operators of US stock exchanges brought half of the world’s largest equity market to a standstill, the second time
      Bloomberg; PHOTO: AP  -  605 words
    • Article
      Lock icon German finances back in surplus
      308 21 AFP Frankfurt, Hesse GERMANY’S finances are back in surplus as growth rebounded in the second quarter, official data showed yesterday. Germany ran up a general government surplus of 8.5 billion euros (S$14.54 billion) in the first six months, equivalent to 0.6 per cent of output,
      AFP  -  308 words
    • Article, Illustration
      Lock icon Premature policy tightening a risk to US
      613 22 Officials were warned in the opening paper at the prestigious Jackson Hole symposium Reuters Jackson Hole, Wyoming THE biggest risk facing the US economy is a premature policy tightening by the Federal Reserve, officials were warned yesterday in the opening paper at the
      Reuters  -  613 words
    • Briefing
    • Article
      Lock icon New home sales down sharply in July
      290 22 LATEST US DATA Reuters Washington SALES of new single-family homes in America fell sharply in July to their lowest level in nine months, casting a shadow over the country’s housing recovery. Sales dropped 13.4 per cent to an annual rate of 394,000 units,
      Reuters  -  290 words
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      37 20 www.omy.sg r,< 4. tv t $200 CASH& SEALY PILLOWS up for grabs! 2 DAYS LEFT TO VOTE FOR YOUR FAVOURITE BLOGGER! I V j-. lifestyle.omy.sg Download omy Apps □PHDI laPKinl omy News iOS App Store Google Play
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  • Page 21 Advertisements
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      Lock icon Page 21 Advertisements Column 1
      59 21 Lim Tan Securities is recruiting a Mobile Dealer Toy Factory Productions has a vacancy for the position of Marketing Publicity Executive DB Schenker has a position open for a Sales Manager Idec Izumi Asia is hiring a Sales Engineer M1 is looking for an Assistant Manager IT Audit Assurance Check
      59 words
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  • SGX
    • Article
      Lock icon SGX MAINBOARD
      8206 23 Transaction date: Aug 23 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 12 8Telecom 13.3 12 14 10.6 0.8 11 63.7 8.8 3.1 A-Sonic 6cd +0.3 150 6 5.8 5.6 6 2.2
      8,206 words
    • Article
      Lock icon SGX CATALIST
      1881 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 $mil 27.5 17.1 t 800 Super 25.5 unch 490 25.5 25 25 25.5 3.3 3.9 7.6 45.6 6.2 2.8 t AA Grp 4.5 3.3 5.5 225
      1,881 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 7 2 0 0 0 4 7 2 Manufacturing 49 54 45 7 9 12 56 63 57 Commerce 23 16 23 6 6 3 29 22 26 Tpt/Stor/Comms 13 14 15
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      769 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Aug 19 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Berger Int'l 21-Aug-13 Asian Paints (Int'l) Buy ***** 0.25 ***** 50.10 ***** 75.82 Berger Int'l 21-Aug-13 Asian
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 15,728 15,728 57,182 57,182 Manufacturing 452,428 68,849 521,277 201,177 2,784 203,962 Commerce 206,816 742,651 949,467 114,906 38,722 153,628 Tpt/Stor/Comms 105,196 35,820 141,016 142,201 11,024 153,225 Finance 111,978 3,213 115,191 220,276 1,312 221,589 Construction 91,854 38,500
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  • MARKETS
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      Lock icon LIFFE
      94 27 Aug 22 COCOA (£/tonne) Close Prev High Low Sep 13 1630 1618 1637 1620 Dec 13 1629 1623 1637 1620 Mar 14 1612 1604 1620 1601 May 14 1612 1604 1618 1602 COFFEE(US$/tonne) Close Prev High Low Sep 13 1781 1827 1825 1774 Nov 13 1793 1829 1824 1782
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      Lock icon METALS
      65 27 Aug 23 GOLD(US$/oz) Aug 23 Aug 22 Hong Kong 1384.00 1378.00 Aug 22 Aug 21 London 1376.04 1368.59 1376.98 1369.45 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 30.02 29.23 Source: UOB PLATINUM Lon (US$/oz) Aug 22 Close Previous PM Fix 1523.00 1518.00 AM Fix 1519.00 1511.00 Source:
      65 words
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      Lock icon FOREIGN CURRENCY NOTE RATES
      118 27 Aug 23 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.181 1.125 Can dollar 1.240 1.193 Euro 1.750 1.667 Sterling pound 2.034 1.956 NZ dollar 1.027 0.988 US dollar 1.308 1.246 Local dollars to 100 units of foreign currency: Currencies Sell
      118 words
    • STOCK MARKETS
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        Lock icon Straits Times Index
        23 27 YTD change: -2.47% 52-week high: 3,464.79 on May 22, 2013 52-week low: 2,931.60 on Nov 16,2012 July Aug Source: Bloomberg
        July Aug Source: Bloomberg  -  23 words
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        Lock icon Hang Seng Index
        20 27 YTD change: -3.50% 52-week high: 23,944.74 on Feb 4,2013 52-week low: 19,076.79 on Sept 6,2012 Source: Bloomberg
        Source: Bloomberg  -  20 words
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        Lock icon Shanghai Stock Exchange Composite
        21 27 YTD change: -9.33% 52-week high: 2,444.80 on Feb 18,2013 52-week low: 1,849.65 on June 25,2013 Source: Bloomberg
        Source: Bloomberg  -  21 words
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        Lock icon Nikkei 225
        18 27 YTD change:+31.41% 52-week high: 15,942.60 on May 23,2013 52-week low: 8,488.14 on Oct 15,2012 Source: Bloomberg
        Source: Bloomberg  -  18 words
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        Lock icon Dow Jones Industrial Average
        27 27 YTD change: +14.19% 52-week high: 15,658.43 on Aug 2,2013 52-week low: 12,471.49 on Nov 16, 2012 (Chart shows Thursday’s index closing) Source: Bloomberg
        Source: Bloomberg  -  27 words
    • Article
      Lock icon PALM OIL
      57 27 Aug 23 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 13 2405.0 2419.0 2420.0 2397.0 678 4059 Oct 13 2360.0 2385.0 2386.0 2356.0 5351 ***** Nov 13 2350.0 2367.0 2369.0 2337.0 ***** ***** Dec 13 2343.0 2360.0
      57 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      88 27 Aug 23 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 19-Sep-13 0.25 6-Month BS*****A 21-Feb-14 0.28 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-15 100.01 5-Year N*****0T 0.5 01-Apr-18 97.4
      88 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 27 Aug 23 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1520 1.1527 0.8992 0.8997 Canadian dollar 1.2145 1.2152 0.9485 0.9480 Euro 1.7098 1.7103 1.3346 1.3349 NZ dollar 1.0000 1.0007 0.7806 0.7811 Sterling pound 1.9969 1.9974 1.5587 1.5590
      155 words
    • Article
      Lock icon CHICAGO BOT
      104 27 Aug 22 SOYBEANS(5,000 bu min; USc/60 lb bushels) Close Previous High/Low Sep 13 1322.00 1333.00 1342.00 1316.50 Nov 13 1286.75 1304.00 1305.50 1283.00 Jan 14 1288.50 1305.50 1307.25 1285.50 Mar 14 1269.25 1281.50 1286.50 1267.75 SOYBEAN OIL(60,000 lbs; USc/lb) Close Previous High/Low Sep 13 42.43 42.82 43.07 42.35
      104 words
    • Article
      Lock icon OIL
      68 27 Aug 22 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 109.75 -0.23 WTI (Near Mth) 105.12 1.16 Dubai (1-Mth F) 106.23 0.47 Tapis blend 116.77 0.27 Minas 109.47 0.27 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 100.72 0.33 Jet Kerosene 124.69 0.57 US$/barrel OpecOil Basket Price 107.58
      68 words
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      Lock icon LONDON METALS
      72 27 Aug 22 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1837.00 1848.25 3 months 1884.00 1897.00 Copper, Grade A (US$/tonne) Cash 7292.00 7209.75 3 months 7320.00 7240.00 Lead (US$/tonne) Cash 2198.00 2201.50 3 months 2209.00 2213.00 Nickel (US$/tonne) Close Previous Cash *****.50 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
      72 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      373 27 In local curr In S$ In US$ dy yr dy yr dy yr Aug 22 Index Change Change Change Change Change Change World Preliminary 1072.6 0.7 14.3 0.6 17.3 0.4 11.8 EAFE Preliminary 878.4 0.6 13.4 0.4 13.6 0.2 8.2 Europe Preliminary 1266.2 1.1 10.4
      373 words
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  • PERSPECTIVE
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      Lock icon If pigs can fly, so can hotels
      953 28 / 29  -  In a world with proxy servers and robot voting programs, travel polls can turn out wondrous findings. But only those that are based on research and not razzmatazz, offer travellers a real choice. By Vijay Verghese By Vijay Verghese ~The writer is editor
      PHOTOS: STOCK.XCHNG  -  953 words
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      Lock icon True democracy needs no qualifiers
      891 28 / 29  -  By Andrés Velasco ~The writer, a former finance minister of Chile, is a visiting professor at Columbia University Project Syndicate IN an influential 1997 essay, Fareed Zakaria coined the term “illiberal democracy” to describe those countries that hold elections (of varying fairness) to choose their
      Project Syndicate  -  891 words
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  • Wealth
    • WEALTH INVESTING
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        Lock icon Tread warily in emerging markets
        1066 30 / 31  -  While there are different dynamics underlying the equities and forex sell-offs in EM in recent days, a common theme is that receding fund flows are exposing structural vulnerabilities in those economies Lim Say Boon ~The writer is the chief investment officer of DBS Group Wealth
        PHOTO: BLOOMBERG  -  1,066 words
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        Lock icon BROKERS' TAKE
        694 30 / 31  -  Compiled by Andrea Soh Offshore and Marine Sector Sector Overweight CIMB Research Aug 22 A RECENT raft of rig orders placed with Chinese yards has sent chills among investors of Singapore yard stocks. We note that these may not translate into real deliveries; we are also starting to
        694 words
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        Lock icon Restoring sanity when trading systems go amok
        1291 32 The need for speed and stiffer competition among bourses stand in the way of arresting suspicious orders NYT New York A GENERATION ago, when the stock market crashed on Oct 19, 1987, the Nasdaq stock market appeared to have done much better than
        NYT; PHOTO: AFP  -  1,291 words
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        Lock icon Like beauty, the value of an asset lies in the eye of the beholder
        1291 33  -  Thus, it’s always better to look on the bright side of things, as the well-being one gets is, well, priceless SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior Correspondent ~The writer is a CFA charterholder
        PHOTO: STOCK.XCHNG  -  1,291 words
    • WEALTH REAL ESTATE
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        Lock icon Why property agents are still around in Internet age
        639 34 A more complex market, better agent leverage over brokers among reasons WP Washington THE quintessentially mainstream American real-estate brokerage Re/Max went public on Tuesday. The housing market is hot enough, its initial filing explained, that raising investor cash could launch it
        WP; PHOTO: BLOOMBERG  -  639 words
      • Article
        Lock icon Househunt
        497 34 PROPERTY TRANSACTIONS BETWEEN JUL 24 AND JULY30,2013 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 4 NON-LANDED Corals At Keppel Bay Apt 26/07/2013 99 2777 8043 2896 Skyline Residences Apt 29/07/2013 FH 484 1075 2219 The Coast At Sentosa Cove
        497 words
      • Article, Illustration
        Lock icon Investor interest returns to Irish zombie hotels
        1037 35 These were debt-laden hotels that resorted to slashing room rates to stay alive and keep tax breaks granted during the boom Bloomberg London IN Ireland, the zombie hotels dotted across the landscape are beginning to revive or die. Four years ago, the country’s
        Bloomberg; PHOTO: BLOOMBERG  -  1,037 words
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      122 36 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. AN EVOLUTION OF THE RULE BREAKING AUDEMARS PIGUET ROYAL OAK LUXURY SPORTS WATCH, THE ROYAL OAK OFFSHORE POSESSES A DRAMATIC AND PURPOSEFUL AESTHETIC THAT TURNS FUNCTIONAL ELEMENTS INTO ICONIC DESIGN FEATURES. AT 44 MILLIMETRES DIAMETER, THE OFFSHORE COMMANDS A UNIQUE PRESENCE,
      122 words
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      52 1 DINING Coupling up L5-7 STYLE Beauty by design L8-9 BT LivingTHE BUSINESS TIMES WEEKEND AUGUST 24 -25 2013 HOME GARDEN Expansive tastes L10-11 NORDIC EVOLUTION The changing face of Nordic cuisine L2-4 BT WINE CHALLENGE La dolce vita L12-13 PHOTO: BROR GOLF BT Corporate Golf League L16-17 MOTORING SUV success
      52 words
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  • BT Living
    • DESTINATION DINING
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        Lock icon NORDIC EVOLUTION
        3057 2 / 3  -  Rene Redzepi and three Noma alumni are hard at work leading a movement that has vastly changed the landscape of gastronomy. No pressure. By Jaime Ee jaime@sph.com.sg NEVER mind that Noma has slipped a notch from the top of the world’s best restaurant list: Rene Redzepi is more
        ALL PHOTOS BY SAMUEL EE  -  3,057 words
    • DINING
      • Article, Illustration
        Lock icon Coupling up
        3229 5  -  Offering both a less costly platform for first time F&B entrepreneurs to tinker with new ideas and a refreshing twist for jaded diners, the dual concept eatery is taking off in Singapore in a bigger way here than ever before. BT Weekend rounds up six new eating spots
        PHOTOS: JOHN HENG; PHOTO OF JARA PETIT: JOHN HENG. PHOTO OF MR TEO AND MR LOW: YEN MENG JIIN; PHOTO: JOHAN LIM; PHOTO: JOHN HENG  -  3,229 words
    • SHOPPING
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        Lock icon Beauty by design
        872 8 / 9  -  It’s all in the details, and for cosmetics brand Aesop, setting exacting standards in every aspect of the company is the secret to becoming a fabled brand. By May Yip TO the uninitiated, the rules adopted by Aesop staff border on the draconian. Guidelines are in place
        872 words
      • Article, Illustration
        Lock icon As prescribed
        538 8 / 9 To-the-point packaging and apothecary-style branding stand out among today’s plethora of potions boasting breakthrough technology and fancy labels. Check out these other understated brands that rank high on both content and style. 1PhilosophyWho needs a celebrity endorser when you have copywriting talents, coming up with product names like
        538 words
    • HOME & GARDEN
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        Lock icon Expansive tastes
        915 10 / 11  -  When their family grew bigger, the Ngs rebuilt their home to be more spacious with an open-concept arrangement and another storey. By Tay Suan Chiang personal space By Tay Suan Chiang taysc@sph.com.sg THE Ng family loves living at Tanah Merah so much that when the family outgrew the
        PHOTOS: YEN MENG JIIN  -  915 words
    • BT WINE CHALLENGE 2013
      • Article, Illustration
        Lock icon La dolce vita
        2611 12 / 13  -  Our third write-up takes us on a roadtrip through Italy in search of Old World beauties. By June Lee FASHION, cuisine and art (and perhaps some of the world’s fastest cars) come to mind when we think of Italy. Its reputation as purveyor of luxury goods can
        2,611 words
    • DESTINATION DINING
      • Article, Illustration
        Lock icon Designed in Hong Kong
        1036 14  -  The city’s design industry, while less familiar than its reputation for vibrant metropolitan life, is strong and growing, Freeman Lau tells Tay Suan Chiang Tay Suan Chiang taysc@sph.com.sg MENTION Hong Kong and the vibrant dining scene paired with endless shopping come to mind. But a city
        1,036 words
    • HEALTH
      • Article, Illustration
        Lock icon Exercising effectively
        1104 15  -  While exercise has a beneficial effect in the fight against heart disease, its effect on risk factors is only modest. By Dr Michael Lim By Dr 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: REUTERS  -  1,104 words
    • BT CORPORATE GOLF LEAGUE 2013
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        Lock icon Seagull Gayatri United’s winning form
        768 16 / 17  -  They leapfrog from sixth to third place in the third round of the League competition. By Justine Moss btnews@sph.com.sg DURING last week’s third round of the Business Times Corporate Golf League at Jurong Country Club, Team Seagull Gayatri United came out firing on all cylinders
        PHOTOS: GOLF DIGEST  -  768 words
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        Lock icon Banking on team spirit
        616 16 / 17 TEAM Seagull were runners-up in the 2012 BT Corporate Golf League, and this year they have joined forces with Gayatri Restaurant. “Gayatri Restaurant have always been a bosom buddy since Seagull Group was established, and they have been involved in all the past golf events staged
        616 words
    • MOTORING
      • Article, Illustration
        Lock icon SUV success story
        628 18  -  The compact sporty-utility vehicle (SUV) is gaining popularity in Singapore. Samuel Ee drives two such models The SUV’s height lends itself to improved all-round visibility and passenger comfort. Samuel Ee samuelee@sph.com.sg VOLKSWAGEN R refers to the high-performance range of cars from the German manufacturer featuring more power
        628 words
      • Article, Illustration
        Lock icon Animal attraction
        593 19  -  The Ford Kuga is an attractively styled compact SUV with a long list of equipment. By Samuel Ee By Samuel Ee samuelee@sph.com.sg A COUGAR is a fearsome animal of either the four or two-leg-ged variety. A Kuga, on the other hand, is an attractive, compact SUV with a
        593 words
      • Article, Illustration
        Lock icon Spotlight on Ferrari as F1 returns in Belgium
        920 20 All eyes are on Fernando Alonso and his team-mate Felipe Massa as the Belgian Grand Prix flags off f1 watch AFP Spa Francorchamps, Belgium FORMULA One returns this weekend after its now traditional mid-season European summer break with speculation swirling around Ferrari
        AFP; PHOTOS: AP, BLOOMBERG; PHOTO: AP  -  920 words
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      37 6 / 7 HOME N S Why risk breaking your back? Leave the painting job to the professionals. To find out more, turn to CLASS 112 in CATS Classified in The Straits Times now. BEATS BUY IT• SELL IT-FIND IT
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      984 8 / 9 wine&dine with BTWeekend Atrium Lounge Marina Mandarin, Singapore Level 4 6 Raffles Boulevard Z6845 1111 High Tea with a Local Twist Aug 1 to Aug 31 Indulge in the Singapore-style 3 tier High Tea, featuring local snacks like Singapore Style Chilli Crab Salad in Crispy Shell, Coconut Scones with Kaya
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      74 12 / 13 The inaugural The Business Times Wine Challenge 2013 in partnership with UBS seeks to uncover the top 50 wines available in Singapore. A distinguished panel of CEOs will choose the 10 best-drinking among them decisions which will be announced in September. A unique buyer’s guide to all 50 wines, reflecting
      74 words
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