The Business Times, 18 September 2013

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Microfilm: NL32826
Total Pages: 30
1 30 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Wednesday, eptember 18, 2013
    25 words
  • Article, Illustration
    Lock icon August non-oil domestic exports disappoint
    760 1  -  Fall of 6.2% worse than in July; economy may shrink in the third quarter By CHUANG PECK MING peckming@sph.com.sg [SINGAPORE] Two months into the second half of 2013 and still no whiff of the anticipated export recovery. Instead, latest trade data for August points to
    Graphics: Jennifer Chua; Source: IE S’pore  -  760 words
  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 GST INDEX 3,180.92 (+1.44) GST INDEX FUTURES 3,180.0 (+2.00) GSIMSCI 362.98 (+0.16) HSIMSCI FUTURES 363.30 (-0.10) US$ S$ US$ (S$ per US$) 1.262 (US$/S$ per 1.593 2.010 EURO (US$/S$/€ 1.335 1.685 Foreign currency per US$ S$ YEN 99.20 78.60 RM 3.250 2.575 HK$ 7.755 6.144 BAHT 31.80 25.19 RUPIAH
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    • Article
      Lock icon MARKETS
      48 1 Tuesday Change KL COMP 1,774.94 +4.14 NIKKEI 225 14,311.67 -93.00 HANG SENG 23,180.52 -71.89 SET INDEX 1,443.78 -1.33 JAKARTA COMP 4,517.62 -4.62 MANILA COMP 6,344.14 +41.43 SEOUL COMP 2,005.58 -7.79 SHENZHEN B 828.64 -0.90 MUMBAI IND 19,804.03 +61.56 12noon EDT Change DOW 15,539.63 +44.85 NASDAQ 3,737.72 +19.88
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    • Article
      Lock icon PRIME RATES
      21 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.502 TAIWAN BRITAIN JAPAN US KOREA 9.33 BRITAIN 0.50 Source: Bloomberg
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  • Article
    Lock icon S’pore NGO dragged into defamation suit over boat ‘resale’
    868 1  -  Case believed to be first defamation suit filed here over Facebook comments By MICHELLE QUAH By michquah@sph.com.sg [SINGAPORE] Singapore humanitarian charity Mercy Relief has been dragged into a legal tussle between two commercial entities, in what is believed to be the
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      124 1 WORLD OF OPPORTUNITIES How businesses thrive amid uncertainty PAGE 13 QUANTITATIVE EASING Was QE worth it? Economists can’t agree PAGE 2 COMPANIES Strong demand for HDB 5-year bond issue PAGE 7 TRANSPORT HUB Strait Talk: Asian ghost at London’s feast PAGE 19 EXECUTIVE MONEY Four likely scenarios for China’s economy
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  • TOP STORIES
    • Article, Illustration
      Lock icon Was QE worth it? Economists can’t agree
      807 2  -  There is a lack of firm consensus about the policy’s impact By KENNETH LIM kenlim@sph.com.sg [SINGAPORE] Five years after the US Federal Reserve first began to buy agency debt on the open market, the debate rages on about whether quantitative easing has worked,
      Graphics by Gareth Chung; Concept by Kenneth Lim; Compiled by BT from Bloomberg, US Federal Reserve, US Department of Commerce  -  807 words
    • Article
      Lock icon Rents, healthcare costs up, retail prices muted
      558 2 August figures point to start of Fed tapering soon LATEST US DATA Reuters Bloomberg [WASHINGTON] US consumer prices barely rose in August, but gains in rents and medical care costs pointed to a stabilisation in underlying inflation that could allow the Federal Reserve
      Reuters; Bloomberg  -  558 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      507 2 August non-oil domestic exports disappoint LATEST trade data for August points to a higher risk that the Singapore economy will slip in the current quarter with exports falling short of the official projection. FRONT PAGE Mercy Relief dragged into legal tussle over boat ‘resale’ SINGAPORE humanitarian charity Mercy
      507 words
    • Article, Illustration
      Lock icon F1 fans and the top 10 countries they come from
      709 4  -  Visitors are both tourists and business people; 98% of tickets snapped up, on track to sell out By SAMUEL EE samuelee@sph.com.sg [SINGAPORE] Formula One fans are a fanatical lot, and none more so than those from around the world who
      709 words
    • Article
      Lock icon Record number of events at MBS in 2013
      403 4  -  Sands Expo and Convention Centre will host over 70 major trade shows by end of Dec BY LEE U-WEN leeuwen@sph.com.sg [SINGAPORE] The conventions and exhibitions arm of the Marina Bay Sands (MBS) integrated resort is on track to close the year with
      403 words
    • Article
      Lock icon Google retains the crown as world’s most attractive employer
      511 4  -  By VIVIEN SHIAO vshiao@sph.com.sg [SINGAPORE] Tech giant Google has continued its reign as the employer of choice among business and engineering students surveyed, after having also taken pole position last year. In the survey by Universum, companies in the top 10
      511 words
    • Article
      Lock icon Chesterton Global buys 70% stake in Chestern Singapore
      480 4  -  Remaining 30% will be held by Donald Han, exec directors By MINDY TAN tanmindy@sph.com.sg [SINGAPORE] Chesterton Global has bought a 70 per cent stake in Chestern Singapore, which was led by veteran property consultant Donald Han. The remaining 30 per cent stake
      480 words
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      158 2 The FUNNIEST show you are likely to see in your ENTIRE LIFETIME! Montreal Gazette ABA Productions The Reduced Shakespeare Company proudly present THE COMPLETE WORKS OF ujcamii Written by Adam Long, Daniel Singer and Jess Winfield I UR T Tj vJ t L'i Additional Material by Reed Marlin 1-TVU LONDON’S
      158 words
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      83 3 340 5oo O A A o 4 O O w <c- s > > o r Go D yuj Xkg£a USS£g tf£§§8 OT “-it > So. O 3, o 0 (0 fU o o o c o* s< 08 OYSTER PERPETUAL COSMOGRAPH DAYTONA IN IS CT WHITE GOLD THE HOURGLASS
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      210 4 PropNex Service You Trust L*****22J Own a piece of (FREEHOLD $5XX property from only Located off Upper Thomson 96 Units Canteen Foreigner Eligible NO ABSD Seeking indication of interest now FREE SEMINAR BY INDUSTRY PROFESSIONALS Understand the Industrial Market Trend, Legalities from PropNex and Rodyk Davidson LLPTopic on Finances and
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  • COMPANY NEWS
    • Article
      Lock icon Asiasons soars on plans for US oil firm stake
      746 6  -  Asiasons also raising $254m from share placement to four new investors By ANGELA TAN angelat@sph.com.sg ASIASONS Capital Limited’s share price soared to a record high yesterday on news that the South-east Asia-centric investment group plans to buy 27.5 per cent of
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    • Article
      Lock icon CME Group to increase Asia staff
      247 6 Bloomberg CME Group Inc, the world’s largest futures exchange, plans to boost its headcount in Asia by as much as 27 per cent by next year as trading volumes increase. The number will rise to 60 to 70 from 55 now, said Julien Le
      Bloomberg  -  247 words
    • Article, Illustration
      Lock icon SingTel releases pricing for new iPhones
      425 6  -  Launch event at Marina Bay Sands on Friday By JOYCE HOOI joyceh@sph.com.sg SINGTEL has beaten StarHub and M1 to the punch for new iPhone price plans, becoming the first telco here to release pricing information yesterday. From today at 4pm, customers who had previously
      PHOTO: REUTERS  -  425 words
    • Article, Illustration
      Lock icon CAO has big plans for global expansion
      546 6  -  By JOYCE HOOI joyceh@sph.com.sg JET fuel trader China Aviation Oil (Singapore) Corporation (CAO) will have global expansion on its mind for the next three years, with plans for all the major regions in the world, it told analysts and investors at its “corporate
      PHOTO: BLOOMBERG  -  546 words
    • Article, Illustration
      Lock icon Strong demand for HDB 5-year bond issue
      755 7  -  Issue, priced at 2.365%, was upsized to 1.45b from initial $1b By SIOW LI SEN lisen@sph.com.sg THE Housing Development Board (HDB) last week had its largest bond sale ever. The $1.45 billion five-year bonds were sold amid a volatile market, proving once again
      ST FILE PHOTO  -  755 words
    • Article
      Lock icon Wuzhou may pay most for dollar debt since Nov
      442 7 Developer considers sale of 5-year bonds yielding 13%: source Bloomberg [HONG KONG] Wuzhou International Holdings Ltd, a Chinese developer that first listed shares in Hong Kong in June, is considering paying the most by an Asian issuer for dollar-denominat-ed debt in
      Bloomberg  -  442 words
    • COMPANY BRIEFS
    • Article, Illustration
      Lock icon UOB aims to double HK-SEA business in 3 years
      513 10  -  It also launches debit card for small businesses in S’pore to save on expenses By JASMINE NG jasng@sph.com.sg THE United Overseas Bank (UOB) plans to double its cross-border business between Hong Kong and South-east Asian companies within the next three years
      513 words
    • Article
      Lock icon Fund taps psychology for big returns
      783 10 Reuters [NEW YORK] One successful fund manager has notched outsized returns with a relatively simple strategy: take advantage of other investors’ bad habits. Ralf Scherschmidt, who manages the US$73 million Oberweis International Opportunities fund, has built one of the best performing small and mid-cap
      Reuters  -  783 words
    • Article, Illustration
      Lock icon Bull Charge: ThaiBev donating $200k
      162 10  -  By ARTHUR LEE arthurl@sph.com.sg TWO Thai Beverage (ThaiBev) representatives joined 15 staff from Singapore Exchange (SGX) for a mooncake-making session at the Baking Industry Training Centre (BITC) yesterday. They played host to 15 young adults from the Eden Centre for Adults, a joint project of
      PHOTO: ARTHUR LEE  -  162 words
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      164 7 Master of Science in Applied Economics The Euro: Too big to crumble? LEARN TO ANALYSE THE EUROZONE CRISIS AND OTHER PRESSING GLOBAL ECONOMIC ISSUES WITH THE SMU MASTER OF SCIENCE IN APPLIED ECONOMICS. A uniquely designed program for people who need to have a strategic understanding of the global economy,
      164 words
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      316 7 5th Business Excellence Global Conference 30-31 October 2013 BREAKTHROUGH TO EXCELLENCE Smarter Learner Stronger This year's Business Excellence Global Conference brings together leaders in service, people and innovation excellence from around the world to share their insights on their business excellence journeys and stories on how their organisations thrive in
      316 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Market hesitant ahead of Fed meet
      579 8  -  Second-liners still in play as blue chips pull back amid weakness in the broad market STOCKS R SIVANITHY sivan@sph.com.sg Senior Correspondent Second-liners continued to capture the local market’s imagination yesterday as blue chips lost some of Monday’s propulsive upward momentum possibly as caution set
      Source: Bloomberg  -  579 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      73 8 Sep 17 VALUE CLOSE BT OB/OS 482.00 -178.00 BT CADI -*****.00 -102.00 BT 10-day MA -*****.00 +48.00 FTSE ST Mid Cap 766.71 -3.15 FTSE ST Small Cap 563.77 +4.63 FTSE ST All Share 781.34 +0.13 FTSE ST China Top 203.44 -0.90 FTSE ST China 231.77 -0.13 FTSE
      73 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 6 1 0 0 0 7 6 1 Manufacturing 34 72 49 7 11 13 41 83 62 Commerce 17 28 22 2 6 5 19 34 27 Tpt/Stor/Comms 16 14 8
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 23,691 23,691 59,956 59,956 Manufacturing 427,709 95,765 523,474 146,272 5,034 151,306 Commerce 364,160 289,473 653,633 107,546 20,624 128,170 Tpt/Stor/Comms 133,538 23,852 157,390 206,350 10,033 216,384 Finance 134,487 1,285 135,772 172,618 541 173,159 Construction 81,819 85,745
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    • Article, Illustration
      Lock icon BROKERS’ TAKE
      833 8  -  Compiled by JOYCE HOOI Nam Cheong Sept 17 close: $0.28 DMG Partners Research, Sept 17 WE showcased Nam Cheong Limited (NCL) at our Hong Kong Asean Corporate Day last Thursday. Investors warmed up to the company’s business model, growth prospects and low valuations, which struck a chord with
      Source: Bloomberg  -  833 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      114 8 Stock name Close Change CapMallsAsia 1.950 -0.030 CapitaLand 3.140 CapitaMall 1.930 -0.020 CityDev 10.44 -0.100 ComfortDelGro 1.930 +0.015 DBS Grp 16.48 -0.030 GLP 2.790 +0.030 Genting SP 1.460 -0.010 Golden Agri 0.535 -0.005 HK Land 6.580 +0.020 HPH Trust US$ 0.770 +0.005 JMH 55.55 +0.250 JSH
      114 words
    • Article, Illustration
      Lock icon Rupiah leads the skids among Asian forex
      535 8 CURRENCIES Reuters [SINGAPORE] The Indonesian rupiah led slides among emerging Asian currencies yesterday as investors took profits ahead of the two-day meeting at which the Federal Reserve is expected to start cutting its stimulus. The rupiah fell on local corporate dollar demand. The
      Reuters; PHOTO: AFP  -  535 words
    • Article
      Lock icon MOST ACTIVE STOCKS
      52 8 VOLUME HanKore 959,808,000 Albedo 198,519,000 GSH Corp 151,295,000 Innopac 110,113,000 Rowsley 88,399,000 AdvanceSCT 87,484,000 Sunmoon 84,900,000 SingHaiyi 63,722,000 Otto Marine 52,242,000 YHM 51,166,000 VALUE($) SingTel 105,099,410 DBS Grp 71,035,250 HanKore 59,793,495 Rowsley 53,645,585 Asiasons 39,822,680 Noble Grp 39,595,941 Ezra 37,360,645 OCBC Bk 35,891,490 UOB 33,066,180 Keppel Corp
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    • Article
      Lock icon RISES
      109 8 BY CENTS CLOSE UP DBXT iBoxxSing 5SG$ ***** 145.0 1.2 Asiasons 205 72.5 54.7 DBXT S&P Short 10US$ 2863 31.5 0.9 JMH 5555 31.5 0.5 DBS Bk 4.7% NCPS 100 ***** 30.0 0.3 ST Engg.ES.1309 423 28.0 7.1 DBXT MSEmerAsi 10US$ 385 21.5 4.6 ISR 60 19.5 48.1 STXPO
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    • Article
      Lock icon FALLS
      124 8 BY CENTS CLOSE DOWN IS S&P500 ***** -159.0 -0.7 DBXT Nifty 10US$ 9460 -87.1 -0.7 Jardine C&C 3577 -63.0 -1.7 DBXT MSEurope 10US$ 5500 -60.6 -0.9 JSH 3436 -40.4 -0.9 Lyxor MS India 10US$ 1220 -30.3 -1.9 DBXT MSINDIA 10US$ 773 -24.0 -2.4 DBXT CSI300 10US$ 753 -20.2 -2.1
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 8 DAILY
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      981 9 ADVERTORIAL Fast business phone, brilliant entertainer Sony’s Xperia Z Ultra has a large 6.44-inch Full HD screen and is truly waterproof, guaranteeing to let you seamlessly transition from work to play. Looking for a phone that has everything, one that feels right at the office as much as the swimming
      981 words
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      84 10 Autumn Matsutake Indulgence 15 September to 15 October 2013 Tuck into highly prized Japanese mushrooms this season as Chef Moon Kyung Soo serves up exquisitely prepared Matsutake dishes. Matsutake Lunch Bento $150++ per person 7-course Dinner $220++ per person $320++ per person, with Sake Pairing Matsutake à la carte menu
      84 words
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  • Article, Illustration
    Lock icon Making data relevant to business
    1927 11 Modern analytics can increase the efficiency of business learning through systematic experimentation A Special Feature Brought to You By Singapore Management University WHEN Singapore Management University (SMU) undergraduates started the current academic year in August, they could choose a new subject as their second major:
    1,927 words
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      138 11 SIV1U MASTER OF IT IN BUSINESS Financial Services track (MITB FS) “Banking is technology. Without technology, there is no bank.” Ian Rae, General Manager Technology Asia Pacific, Europe America Australia and New Zealand Banking Group Limited (ANZ) The definitive Master of IT in Business (MITB) programme will give you an
      138 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Costly, but Singapore is value for money: Savills
      537 12  -  Measured against GDP per capita, high costs of housing a business look cheap By ONG CHOR HAO ongch@sph.com.sg SINGAPORE offers the best value for locating a business in terms of accommodation costs when compared with other top world cities, a report said
      PHOTOS: AFP, BLOOMBERG, REUTERS; Graphics by Gareth Chung; Source: Savills  -  537 words
    • Article, Illustration
      Lock icon Hotels see good mooncake sales despite more rivals
      588 12  -  By NISHA RAMCHANDANI nishar@sph.com.sg HOTELS and restaurants are reporting brisk business this mooncake season, as establishments offer both traditional favourites and new creations this year, including mooncakes that cater to the healthconscious. At the Shangri-La Hotel, sales are up 10 per cent
      588 words
    • Article, Illustration
      Lock icon From curry puffs to croissants, back to curry
      723 12  -  Mistakes lead to learning, Old Chang Kee finds By FELDA CHAY By feldac@sph.com.sg CHANGE is often uncomfortable, and a towkay with a successful business model would likely be wary when his employees suggest changes in the form of, for example, new products.
      PHOTOS: YEN MENG JIIN  -  723 words
    • Article
      Lock icon Bigger, more exciting Techventure next week
      405 12  -  By JACQUELYN CHEOK jaccheok@sph.com.sg TECHVENTURE, an annual showcase of technological innovation and enterprise in Singapore, looks set to be a bigger and more influential platform this year for start-ups and investors to network, exchange ideas and explore the commercialisation of home-grown technologies. Highlights of
      405 words
  • Page 12 Miscellaneous
    • Miscellaneous
      Lock icon Page 12 Miscellaneous Column 1
      29 12 i/v/V JACKPOT Estimated Draw on Thu, 19 Sep 2013 at 6.30pm For details, visit www.singaporepools.com.sg IpLAY® Always play with care. [responsibiyy Do not bet illegally. RGB Reg No: *****0202G
      29 words
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  • WORLD OF OPPORTUNITIES
    • Article, Illustration
      Lock icon How businesses thrive amid uncertainty
      1376 13  -  As volatility reigns in the business environment, firms need to innovate to capture new opportunities in Asia, reports KAN KWOK LEONG DESPITE recent signs of a recovery in developed economies, the business world continues to be saddled with extreme volatility, a persistent talent crunch, and
      ST FILE PHOTO  -  1,376 words
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      129 13 20 13 CPA CONGRESS 9 OCTOBER RAFFLES CITY CONVENTION CENTRE SINGAPORE think+create CPA With a long-running history of showcasing innovative thinkers and industry foresight, the conference will equip you with the tools, strategic knowledge and leadership skills needed to succeed in this ever-changing world. Put inspiration into action and discover
      129 words
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  • MALAYSIA/INDONESIA
    • Article, Illustration
      Lock icon President Tony Tan and wife to visit Malaysia
      474 14  -  Three-day visit will be his first state visit to the country BY PAULINE NG in Kuala Lumpur SINGAPORE President Tony Tan Keng Yam will, from today, make a threeday state visit to Malaysia at the invitation of the Malaysian king, Tuanku Alhaj
      474 words
    • Article, Illustration
      Lock icon Malaysians feel pinch as austerity kicks in
      721 14 Reduced domestic demand, investment loom after fuel hikes, state spending cuts Bloomberg [KUALA LUMPUR] Malaysian Prime Minister Najib Razak returned to power this year with the help of a spending spree that boosted consumption. Now voters could feel the pinch as he tries
      Bloomberg; PHOTO: AP  -  721 words
    • Article
      Lock icon Jakarta reviews curbs on mining exports as deficit balloons
      364 14 Reu ters [JAKARTA] Indonesian policymakers are scrambling to ease nationalistic resource rules that threaten to slash mining exports from January and potentially widen a current account deficit already at a near-record high. Th e d e fi c i t reached
      Reuters  -  364 words
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      40 14 Is The Route To YOUR IDEAL JOB Too Complicated? Take the shortcut to your ideal job! f C r r. K O Fast track your search at STJobs.sg now! ini/, w aie I IMKfl STJOBS in Hiiur: ii Google play
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      318 15 THE STRAITS TIMES WHEREVER YOU ARE P. K: r i r c I r k f _r li STAY INFORMED ON WHAT MATTERS MOST GRAB THESE FABULOUS GIFTS when you Subscribe to The Straits Times. Select a Plan and pick your gift! 2- Year Plan 3-Year Plan is exclusive to
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon Ranbaxy to act after FDA ban on plant
      495 16 Stock’s rating cut after plans for two blockbuster pills are hit AFP Bloomberg [MUMBAI] India’s Ranbaxy Laboratories, one of the world’s biggest generic drug makers, said yesterday that it would take “all necessary steps” to help lift an import ban by the
      AFP; Bloomberg; PHOTO: AFP  -  495 words
    • Article
      Lock icon FDI into China up 6.37% in first 8 months
      358 16 Incoming FDI reaches US$79.77b for Jan-Aug period AFP [BEIJING] Foreign direct investment (FDI) into China rose 6.37 per cent year-on-year in the first eight months of 2013, the government said yesterday, adding it was a sign of investor confidence in the
      AFP  -  358 words
    • Article
      Lock icon Chinese ratings agency to assess local govt debt
      333 16 Reuters [SHANGHAI] A Chinese credit ratings agency is teaming up with an influential state-backed think-tank to issue ratings of local governments, in a step towards establishing a standardised municipal bond market. China’s budget law forbids Chinese local governments from borrowing directly, but
      Reuters  -  333 words
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      98 16 J r I H Looking for a bigger space for your business? You’re looking at the SI 0 I a N 9 > > a 'a Search for your ideal business space from over 5,000 commercial and industrial properties Discover Top 10 Popular Projects every week |jj Sort by psf
      98 words
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  • WORLD
    • Article, Illustration
      Lock icon JPMorgan to pay US$800m in settlements over wrongdoings
      690 17 But payment to US, UK agencies won’t resolve US$6b trading blunder fully [NEW YORK] JPMorgan Chase has agreed to pay more than US$800 million to a host of government agencies in Washington and London and make a groundbreaking admission of wrongdoing to
      PHOTO: AFP  -  690 words
    • Article
      Lock icon US options trading halted again due to systems glitch
      313 17 Reuters [NEW YORK] Options trading on several major exchanges was halted on Monday due to an unexplained problem with the computer system that distributes price quotes the latest in a series of technology failures to force an outage in US securities
      Reuters  -  313 words
    • Article
      Lock icon Ex-JPMorgan traders indicted in ‘London Whale’ scandal
      266 17 Reuters [NEW YORK] A US grand jury has indicted two former JPMorgan Chase Co traders at the centre of the bank’s “London Whale” scam, court papers made public show. Javier Martin-Artajo and Julien Grout were accused of hiding hundreds of millions of dollars
      Reuters  -  266 words
    • Article, Illustration
      Lock icon UK raises £3.2b from sale of 6% stake in Lloyds
      417 17 Reu ters [LONDON] Britain has raised £3.2 billion (S$6.4 billion) from the sale of a 6 per cent stake in Lloyds Banking Group, marking a milestone in the economy’s recovery from the 2008 financial crisis. Britain pumped a combined £66
      Reuters  -  417 words
    • Article
      Lock icon Self-tests show we are safer than 6 months ago: US banks
      605 17 Re uters [NEW YORK] The biggest US banks, including JPMorgan Chase Co and Bank of America Corp (BOA), said that by their own reckoning they are better equipped to withstand a shock to global markets and economies now than
      Reuters  -  605 words
    • Article, Illustration
      Lock icon Microsoft plans US$40b stock buyback
      557 18 Quarterly dividend rises 22% to 28 US cents a share, payable on Dec 12 Bloomberg [NEW YORK] Microsoft Corp, the world’s largest software maker, announced a new US$40 billion stock buyback plan and increased its dividend 22 per cent, seeking to reward shareholders at a
      Bloomberg; PHOTO: AP  -  557 words
    • Article
      Lock icon Investors reduce bond exposure to seven-year low
      507 18 Reuters [LONDON] Global investors cut their allocation to bonds to the lowest in seven years in September as they positioned for stronger global growth and higher inflation, a poll showed yesterday. The monthly fund managers poll from Bank of America Merrill Lynch (BOAML)
      Reuters  -  507 words
    • WORLD BRIEFS
      • Article
        Lock icon ECB watching excess liquidity closely
        78 18 Reuters [HELSINKI] The European Central Bank (ECB) will pay particular attention to changes in excess liquidity in the banking sector as it seeks to keep down interest rates, Governing Council member Erkki Liikanen said yesterday. He reiterated the ECB’s pledge to keep rates low for
        Reuters  -  78 words
      • Article
        Lock icon More optimism on German economy
        49 18 AP [FRANKFURT] A German index of economic optimism among investment professionals rose more than expected in September, underlining stronger growth prospects in Europe’s largest economy. The ZEW rose to 49.6 points from 42 in August. Market analysts had expected an increase to 45. AP
        AP  -  49 words
      • Article
        Lock icon Eurozone trade surplus up in July
        82 18 AFP [BRUSSELS] The eurozone trade surplus increased in July compared with June, official data showed yesterday, providing another sign of a tentative recovery from a record recession. The 17-nation eurozone posted a surplus of 18.2 billion euros (S$30.8 billion) in July, up from 16.5
        AFP  -  82 words
      • Article
        Lock icon Lehman sign re-sold at lower price
        60 18 Bloomberg [LONDON] A metal sign from the London headquarters of Lehman Brothers Holdings sold at auction today for £9,375 (S$18,791) a quarter of its price three years ago. The sign was being re-sold at Christie’s International in London. The event comes five years after
        Bloomberg  -  60 words
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      399 17 Not for distribution outside of Singapore UNITED ENGINEERS LIMITED (Company Registration No. *****0018G) (Incorporated in Singapore) NOTICE TO BONDHOLDERS ADJUSTMENT TO THE CONVERSION PRICE OF S$132,974,599 1.0 PER CENT. CONVERTIBLE BONDS DUE 2014 (ISIN: SG5T*****336) The Board of Directors of United Engineers Limited (the “Company”) refers to the notice to
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      1627 18 Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices VARD a Fincantieri company VARD HOLDINGS LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. 201 *****4K) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting ("EGM") of Vard Holdings Limited ("the Company") will be held at Pan
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      578 18 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF RELIANCE SINGAPORE HOLDINGS PTE. LTD. Company Registration No. *****6633C (Members’ Voluntary Liquidation) At an Extraordinary General Meeting of the Members of RELIANCE SINGAPORE HOLDINGS PTE. LTD. deemed to have been held on 13th September 2013, the
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  • Transport HUB
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      Lock icon Asian ghost at London’s feast
      1000 19  -  A first-class maritime centre must be a one-stop shop providing immediate access to essential shipping services 24/7 STRAIT TALK By DAVID HUGHES WHAT makes a firstclass maritime centre? Variations on that question were being asked continually last week in gatherings all over the British capital.
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      Lock icon Italy cruise wreck turned upright in unique salvage
      733 19 AFP [GIGLIO ISLAND, Italy] Salvage operators in Italy lifted the Costa Concordia cruise ship upright from its watery grave off the island of Giglio yesterday in the biggest ever project of its kind. The sound of ship horns sounded across the water
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      Lock icon TRANSPORT STOCKS
      237 19 SGX '000 Sep 17 S$ +/-Vol CH Offshore 0.41 unch 265 Chuan Hup Hldg 0.27 -0.01 263 Cosco Corp 0.82 -0.01 3829 s$ Ezra Hldgs 1.20 -0.10 ***** First Ship Lea CH Offshore Freight Links unch Grand Banks Chuan Hup Hldg Jaya Hold Ltd -0.01 K1Ventures...............0.20 -0.01 4202
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      Lock icon EU court wants Iran carrier sanctions lifted
      461 19 Reuters [LONDON] The European Union’s efforts to impose economic sanctions on Iran suffered a new setback when a top court ruled that measures against the Islamic Republic’s biggest cargo carrier should be lifted. The ruling by Europe’s second-highest court follows similar decisions in
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    • TRANSPORT HUB: AVIATION
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        Lock icon Boeing 787-9 ready for take-off
        718 20 Latest Dreamliner has tighter design, manufacturing controls Bloomberg [CHICAGO] As Boeing prepares to fly the first of its bigger 787 Dreamliners, chief executive officer Jim McNerney is plotting production of the marquee jet at a faster pace as he gains confidence that it has overcome
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        Lock icon Bombardier’s all-new plane takes off
        512 20 Reuters [QUEBEC] Bombardier Inc’s CSeries jetliner successfully completed its first flight on Monday, a key step in a US$3.4 billion programme to develop the first all-new narrow-body plane of its size in decades. The white-and-blue CS100 test aircraft landed beside the Bombardier plant in Mirabel,
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      • Article
        Lock icon A320 flight simulator for ST Aerospace Academy
        315 20  -  By NISHA RAMCHANDANI AVIATION training products manufacturer Mechtronix has commissioned an advanced flight simulator for ST Aerospace Academy (STAA), the commercial pilot training arm of ST Aerospace. The Canada-based firm’s Airbus A320 FFT X™-MPL will be used to support the academy’s mul-ti-crew pilot
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        Lock icon Losses forcing Air France to review provincial bases
        624 20 Bloomberg [TOULOUSE] Air France-KLM Group is reviewing provincial bases in southern France created just a year ago as Europe’s biggest airline grapples with losses that caught it by surprise, two people familiar with the matter said. The airline is considering a reduction
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    • TRANSPORT HUB: LAND
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        Lock icon GM working on 320km electric car: vice-president
        595 21 Estimated cost of US$30,000 is about the same as current Chevrolet Volt’s cost AP [MICHIGAN] As automakers race to make cheaper electric cars with greater battery range, General Motors (GM) is working on one that can go 320km per charge at a cost
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        Lock icon Mazda set to hit sales target of 1.7m vehicles
        556 21 Reuters [TOKYO] Mazda Motor Corp will hit its aggressive annual sales target of 1.7 million vehicles in three years without relying on discounts, its new chief executive said, helped by its new fuel-efficient technology and the yen’s depreciation. In the global
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        Lock icon Ford to install electric cars charging stations for staff
        534 21 Employees will charge free for first four hours, enough to top up fully depleted battery Reuters [DETROIT] Ford Motor Co said it will install charging stations at more than 50 of its US and Canadian offices and plants so that employees
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      34 19 sgCarMart (S)UOTZ Made Simpler SELL YOUR CAR BY BIDDING! HIGHEST PRICE GUARANTEED! pR\cr HVGVAtST m Online bidding by over 300 used car dealers! Call us now for a FREE Car Valuation 6744 7571 www.sgcarmart.com/quotz
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      272 19 KATHY LIEN Trading Currencies Can Be Easy... With The Right Mentor At Your Side. Take advantage of this rare opportunity to learn from Kathy Lien, one of the best known traders in the currency market. She will share with you EVERYTHING that she believes is important to know about the
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      24 20 LIGHTNING STRIKES CATCH THE ALL NEW NISSAN HOT FM91.3 THUNDER TRUCK TUNE IN TO HOT FM91.3 FOR MORE INFO WWW.HOTFM.SG I FACEBOOK.COM/HOTFMSG 3* HOTFMSG
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      37 20 H iSm It YOU1TENTRYTO THE^lDQPiLIFE B0ATING HO'OV AVAILABLE on iPA° android A SUBSIDIARY OF SPH MAGAZINES PTE LTD Blu Inc Media (HK) Ltd. Tel: 85£5l65 2800 Fax: 852 2868 1799 www.bluincmedia.com Enquiry: queries@bluincmedia.com Subscribe at sub@bluincmedia.com www.asia-pacificboating.com
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  • Page 20 Miscellaneous
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      334 20 CRYPTIC CROSSWORD Across 7 Nothing stopping mobile phone use providing reception for everyone (4,5) 8 Demonstrated this stitch used in embroidery? (5) 10 Phoney conflict in the main? (3,3) 11 Tires and emission systems (8) 12 We are encouraged to like these environmentalists (6) 14 Note comment (6) 16 The
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      190 21 r FREE ENTRYJ Superstars light up the Singapore sky! Singapore INTERNATIONAL DEEPAVALI SHOPPING FESTIVAL 2013 18-22 September Singapore Expo Hall 5 B m a I HRITHIK ROSHAN i 12 SAMANTHA JNR NTR KRRISH 3 Merchandise on sale for kids Limited Stock! To book call Kash: *****592 Unforgettable Experience An A
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  • EDITORIAL & OPINION
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      Lock icon Don’t fear tapering – prepare for it
      511 22 Don’t fear tapering prepare for it EDITORIAL BY tomorrow morning Singapore time, we will know if the US Federal Reserve has finally started to unwind the greatest ever monetary expansion, and by how much. This is not something markets need fear, but it will mark a watershed in global monetary
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      Lock icon US-Russia deal on Syria will have broad impact
      789 22  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 “THE Chinese side welcomes the general agreement between the US and Russia,” Foreign Minister Wang Yi said while meeting his French counterpart on
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      Lock icon The rise of the market, the decline of academia
      959 22  - The rise of the market the decline of academia Universities have been reinvented as servants of capitalism By MARIE-LAURE DJELIC The writer is from ESSEC Business School. This article was first published in ESSEC Knowledge, an online portal dedicated to the research, expertise and thought leadership of ESSEC Business School
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      Lock icon Rape exposes failure of governance
      1492 23  -  In the dock are India’s poor urban management, dysfunctional public education, inadequate transport and corrupt officials VIKRAM KHANNA vikram@sph.com.sg Associate Editor THE four rapists who committed the barbaric assault on the 23-year-old female physiotherapist in New Delhi last December have been handed death sentences and
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      Lock icon The elderly cannot be messed with
      937 23  -  WILLIAM PESEK The writer is a Bloomberg View columnist Bloomberg AS HARUHIKO Kuroda tries to spur Japan’s inflation rate, he faces a worrying question: What if his Bank of Japan (BOJ) predecessor was right about why he will fail? In June 2011, then-BOJ governor
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      Lock icon SHIPPING TIMES
      2442 24 Papua New Guinea Australia New Zealand New Caledonia Fiji all other Pacific Islands Dili (East Timor) Guam (Mariana Islands) Honolulu (Hawaii) SOUTH PACIFIC SERVICE W W W. N G P L J S P. C O M THE CHINA NAVIGATION CO. PTE. LTD. 300 BEACH ROAD #02-02 THE
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      43 24 FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? Shippers looking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES Shipping Times
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      17 24 USE THIS SPACE TO SELL CALL JOE WONG AT *****327 TO ADVERTISE The Business Times Shipping Times
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      136 25 mporters ooking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT *****327 II FREIGHT FORWARDER urgently needed by shippers I Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 Announce Your Corporate
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      19 25 USE THIS SPACE TO SELL CALL JOE WO IMG AT 9620 1327 TO ADVERTISE The Business Times Shipping Times
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      3317 26 Transaction date: Sep 17 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 15 11.9 8Telecom Vol Day Last Quote Div Gr Yld Net 188 106 AIMSAMPIReit High Low Company Sale 75 57
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      Lock icon SGX CATALIST
      262 27 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last Vol 2.4 1.3 t Advanced System 1.5 unch 3300 1.5 1.5 1.4 1.5 23.8 Last Quote Div Gr Yld Net M Cap High
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      Lock icon UNIT TRUST & FUNDS
      11203 27 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** Aberdeen Asset Mgt Asia Limited APS Alpha Fund (USD)!** Asian Local Ccy SD Bond Aberdeen Asset Mgt Asia Limited EM Local Ccy Bond Asian Local dcy SD Bond ....0.9893/ EM local Ccy Bond .0 9198/
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      Lock icon GLOBALQUOTE
      262 27 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 59 27 AVJennings A55 unch 5 55 55 55 59 3.6 6.4 4.5 203.6 52 31 Genting HK US$ US40.5 -0.5 1124 41 40 40 40.5 2666.7
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      Lock icon SGX ETF
      891 27 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 126 107.1 ABF SG Bond ETF 113 +1.5 132 113 111.6 113 114.9 515.8 143 125 CIMB APAC Div 100S$D 135cd 134.7 135.6 114.4 99.2 CIMB
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      597 28 Sep 17 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.99 *****.53 *****.67 Dec13 *****.00 *****.00 *****.00 *****.00 ***** *****2 Mar14 *****.00 *****.00 *****.00 *****.00 0 66 MSCI TAIWAN INDEX FUTURES SPOT 291.88 292.25 290.68 Sep13 292.30 293.80 290.90 292.20 ***** *****6 Oct13 291.90
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      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 28 In local curr In S$ In US$ dy yr dy yr dy yr Sep 16 Index Change Change Change Change Change Change World Preliminary 1106.1 0.8 17.9 0.3 19.4 1.0 15.8 EAFE Preliminary 907.6 0.6 17.2 0.4 16.3 1.2 12.7 Europe Preliminary 1297.0 0.7 13.1
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      Lock icon INTERBANK CROSS RATES
      471 28 Sep 17 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.962 5.705 0.698 7.227 58.848 106.829 0.925 10.104 3.029 1.139 97.831 40.680 1.176 9.167 0.863 27.679 29.631 0.585 0.932 Canada 1.039 5.928
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      Lock icon SIBOR
      55 28 Sep 17 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 1 mth 2 mths 2 mths 0.***** 3 mths 9 mths 6 mths 12 mths
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      Lock icon GOVERNMENT SECURITIES
      90 28 Sep 17 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 19-Sep-13 0.24 6-Month BS*****F 21-Mar-14 0.28 1-Year BY*****H 02-May-14 0.28 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-15 99.99 5-Year N*****0T 0.5 01-Apr-18 98.14
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    • Article
      Lock icon PRECIOUS METALS
      136 28 Sep 17 GOLD(US$/oz) Sep 16 Sep 17 Hong Kong 1328.00 1326.00 Sep 13 Sep 16 London 1316.51 1317.19 1317.28 1318.06 Source: Thomson Reuters CAST BAR Sep 17 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 120 53 5gm 340 266 10gm 608 532
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    • Article
      Lock icon PALM OIL
      57 28 Sep 17 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Oct 13 2332.0 2363.0 2364.0 2312.0 658 9926 Nov 13 2321.0 2358.0 2359.0 2300.0 9526 ***** Dec 13 2320.0 2355.0 2356.0 2294.0 ***** ***** Jan 14 2320.0 2355.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 28 Sep 17 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1754 1.1770 0.9317 0.9322 Canadian dollar 1.2218 1.2229 0.9685 0.9684 Euro 1.6840 1.6858 1.3348 1.3352 NZ dollar 1.0319 1.0333 0.8179 0.8184 Sterling pound 2.0090 2.0109 1.5924 1.5927
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    • Article
      Lock icon CHICAGO BOT
      109 28 Sep 16 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Nov 13 1348.25 1381.50 1375.25 1342.75 Jan 14 1348.25 1379.75 1374.00 1343.50 Mar 14 1322.00 1347.25 1341.50 1315.50 May 14 1294.50 1315.00 1308.75 1284.75 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Oct 13
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    • Article
      Lock icon LIFFE
      95 28 Sep 16 COCOA (£/tonne) Close Prev High Low Dec 13 1722 1699 1729 1689 Mar 14 1695 1678 1700 1667 May 14 1689 1673 1694 1661 Jul 14 1683 1668 1686 1656 COFFEE(US$/tonne) Close Prev High Low Sep 13 1700 1717 1700 1700 Nov 13 1730 1747 1754 1723
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    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1139 28 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 37.5 0.5 1220 0.0 5 -89 58 Asia-Pacific Strategic W*****6 Ratio Exer Albedo Limited W*****9 Prem Disc Ascendas REIT.ES.1309 Expiry Ascendas Reit MB ECW*****3 3.2 0.2 240 6
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    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 28 CRUDE OIL PRODUCTS Sep 16 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 110.20 -1.12 WTI (Near Mth) 106.30 -2.05 Dubai (1-Mth F) 105.40 -1.57 Tapis blend 118.68 -1.42 Minas 110.48 -1.42 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 104.61 0.50 Jet Kerosene 124.51 -0.20 US$/barrel OpecOil Basket
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      Lock icon US$/S$ FORWARD RATES
      22 28 Sep 17 S$ Bid Offer 1-month 1.2616 1.2626 2-months 1.2615 1.2625 3-months 1.2614 1.2625 6-months 1.2611 1.2622 Source: OCBC
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    • Article
      Lock icon LONDON METALS
      65 28 Sep-16 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1735.50 1744.50 3 months 1782.00 1790.00 Copper, Grade A(US$/tonne) Cash 7055.50 7010.50 3 months 7085.00 7041.00 Lead(US$/tonne) Cash 2028.00 2044.75 3 months 2053.50 2071.00 Nickel (US$/tonne) Cash *****.00 *****.50 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.50 3 months *****.00
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      Lock icon FOREIGN CURRENCY NOTE RATES
      121 28 As at 9am Sep 17 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.203 1.146 Can dollar 1.246 1.199 Euro 1.723 1.641 Sterling pound 2.045 1.967 NZ dollar 1.057 1.017 US dollar 1.289 1.228 Local dollars to 100 units of foreign
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      Lock icon INTERBANK RATES
      154 28 Sep 17 $S Offer Bid 0vernight 0.03 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 3/8 1/4 Overnight mode: 0.05 US$ Offer Bid 7 days 0.20 0.10 1 month 0.28 0.18 2 months 0.40 0.20 3 months 0.45 0.25 6 months 0.50 0.30 9 months 0.60 0.40 12
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      84 29 H i Tomorrow needs care Our continuous commitment in Asia In addition to providing global investment solutions, our Asia platform has developed local expertise and renminbi capabilities. Our commitment has always been rooted in transparency and long-term vision. Relying on these common sense values, we help you to protect, grow
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  • executive Money
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      Lock icon Four likely scenarios for China economy
      1134 30  -  Country may achieve ‘beautiful deleveraging’ by gradual adjustment MONEY MATTERS JONATHAN GARNER The writer is chief Asia/GEMs equity strategist at Morgan Stanley CHINA’S economy has reached an inflexion point on its leverage-driven growth path. What shape will the great unwind take beautiful (a la
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      Lock icon Europe’s outlook turning positive
      560 29  -  Investor confidence points to optimism for future despite continuing declines in GDP and high unemployment levels By FLOYD NORRIS NYT THE skies above Europe are getting much brighter. Or at least investors seem to believe they are. A survey of investor sentiment in the eurozone this
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    • Article
      Lock icon Financial system still vulnerable to repo market
      643 29 Some think a central clearing platform can solve repo problem NYT [NEW YORK] It has been five years since the bankruptcy filing of Lehman Brothers set off the worst economic crisis in the United States since the Great Depression. With the perspective that
      NYT  -  643 words
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      208 30 t 1 1 ft *1 *1 I *1 ’ft sN’S ,;s:v. i i, i, I. \vv •l *1. i 1 1 I I f ’I 4 i ki A yg TRADE GLOBAL SHARE CFDs WITH DIRECT MARKET ACCESS SINGAPORE. US. HK. JAPAN. UK, EUROPE, AUSTRALIA Go long or short on
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