The Business Times, 19 December 2013

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Microfilm: NL32903
Total Pages: 26
1 26 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Thursday, December 19, 2013
    25 words
  • Article
    Lock icon Govt cuts land sales under weight of supply
    1146 1  -  For H1 2014, MND will launch through confirmed list eight sites that can generate 4,630 private homes By KALPANA RASHIWALA kalpana@sph.com.sg [SINGAPORE] The 4,630 private homes that can be generated from the confirmed list sites slated for launch by the government in
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  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 HST INDEX 3,061.78 (-5.79) HST INDEX FUTURES 3,056.00 (-6.00) HSIMSCI 352.59 (-0.98) HSIMSCI FUTURES 351.10 (-0.20) US$ S$ US$ (S$ per US$) 1.259 (US$/S$ per 1.628 2.049 EURO (US$/S$/€ 1.377 1.733 Foreign currency per US$ S$ YEN 103.00 81.80 RM 3.258 2.588 HK$ 7.752 6.160 BAHT 32.28 25.65 RUPIAH
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    • Article
      Lock icon MARKETS
      48 1 Wednesday Change KL COMP 1,847.50 -3.40 NIKKEI 225 15,587.80 +309.17 HANG SENG 23,143.82 +74.59 SET INDEX 1,349.86 +12.68 JAKARTA COMP 4,196.28 +13.94 MANILA COMP 5,961.55 +32.56 SEOUL COMP 1,974.63 +8.89 SHENZHEN B 862.55 -1.08 MUMBAI IND 20,859.86 +247.72 11am EST Change DOW 15,924.06 +48.80 NASDAQ 4,017.95 -5.73
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    • Article
      Lock icon PRIME RATES
      23 1 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA JAPAN TAIWAN KOREA JAPAN 1.475 KOREA 9.33 SWITZERLAND 0.50 INDIA 3.25 Source: Bloomberg
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  • Article
    Lock icon COE premiums for cars up slightly
    443 1  -  Dealers point to year-end registration rush By SAMUEL EE samuelee@sph.com.sg [SINGAPORE] Premiums for passenger cars rose slightly in the final COE bidding exercise for 2013, with some distributors attributing it to the year-end registration rush rather than a strengthening of demand. “There may be
    443 words
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      226 1 HOCK LOCK SIEW Some scope for contrarians in 2014 PAGE 7 AVIATION Premium travel on uptrend, rising 5.6% in Oct PAGE 17 OPINION Enhancing disclosures on executive pay PAGE 19 YEAR IN REVIEW: ENERGY Petrochem-refining sector in ‘digesting’ phase PAGE 4 Fund managers bullish on stocks, cyclicals: survey IPAGE 6
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  • TOP STORIES
    • Article, Illustration
      Lock icon New measures on alcohol sales announced
      838 2  -  Raft of ‘calibrated’ steps gets mixed response from businesses in area RIOTING IN LITTLE INDIA Reports by MALMINDERJIT SINGH msingh@sph.com.sg [SINGAPORE] A raft of “calibrated” measures unveiled by the police yesterday regarding alcohol sales and consumption in Little India got a mixed response from
      PHOTO: KUA CHEE SIONG/THE STRAITS TIMES  -  838 words
    • Article
      Lock icon Indonesia under pressure to delay mineral ore export ban
      910 2  -  Full implementation seen undermining the economy By JEFFREY HUTTON in Jakarta PRESSURE is mounting in Indonesia to delay a ban on unprocessed mineral ore, which is due to take effect next month. On Monday, top political and business officials urged Parliament
      910 words
    • Article
      Lock icon Two accused remanded for another week
      368 2 [SINGAPORE] Two of the Indian nationals charged for allegedly rioting in Little India were yesterday remanded in custody for another week to help in police investigations. Moorthy Kabildev, 24, and Sathiyamoorthy Sivaraman, 36, were among the second batch of accused to have been charged
      368 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      461 2 Govt slashes land sales under weight of supply THE Ministry of National Development is scaling back the Government Land Sales Programme for private housing, commercial and hotels for H1, 2014. FRONT PAGE COE premiums for cars up slightly PREMIUMS for passenger cars rose slightly in the final COE
      461 words
    • Article, Illustration
      Lock icon Petrochem-refining sector in ‘digesting’ phase
      1183 4  -  EDB: Good time to build up flexibility and resilience amid global competition YEAR IN REVIEW: ENERGY Reports by ronnie@sph.com.sg RONNIE LIM ronnie@sph.com.sg [SINGAPORE] Times are challenging, lamented an oil refining source in the wake of falling margins and industry throughput especially in the second half
      FILE PHOTO  -  1,183 words
    • Article
      Lock icon Housing starts jump to near 6-year high in Nov
      366 4 Stronger market could allow Fed to start cutting back on bond purchases LATEST US DATA Reuters [WASHINGTON] US housing starts surged to their highest level in nearly six years in November a sign of strength in the housing market that could
      Reuters  -  366 words
    • Article
      Lock icon In the pipeline: heat exchange on Jurong Island
      626 4 Plan for plants to share excess heat, steam for efficiency [SINGAPORE] Singapore is rolling out a plan for plants on Jurong Island to share excess heat or steam generated during operations, to boost the petrochemical industry’s energy efficiency and competitiveness. In an
      626 words
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      63 2 m Specialist for Company Trips f Trust Our Knowledge For All Your Travel Needs (bj budget tour Planners Beyond Expectations ■EEC Company Incentive Trips Church Retreat Packages Free Easy Air Packages ‘Customised Pilgrimage Tours Malaysia Coach Tours Local Sightseeing Tours ♦Coach Hire (Singapore Malaysia) Cruises BudgetTour Planners Pte Ltd 51
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon Fund managers bullish on stocks, cyclicals: survey
      518 6  -  In Asia, they’re keen on Korea, China and Taiwan; sentiment cool for S-E Asia By KENNETH LIM kenlim@sph.com.sg GLOBAL fund managers are most bullish on stocks and cyclicals at the moment, but staying away from South-east Asia, according to a survey by Bank
      Source: BofA Merrill Lych Fund Manager Survey  -  518 words
    • Article
      Lock icon Asia business sentiment down sharply in Q4
      672 6 Top companies cite global economic uncertainty, rising costs, says survey Reuters [SEOUL] Business sentiment among Asia’s top companies dropped sharply in the fourth quarter, extending last quarter’s declines, with global economic uncertainty and rising costs weighing on the region’s firms, a Thomson Reuters/
      Reuters  -  672 words
    • Article
      Lock icon Some scope for contrarians in 2014
      804 7  -  HOCK LOCK SIEW By R SIVANITHY FORECASTING how an entire year might pan out is always hugely daunting because of the uncertainties involved, but now the overwhelming majority of investment strategists are predicting an economic recovery for the US and Europe in 2014 and
      804 words
    • Article, Illustration
      Lock icon More companies adopt flexible staffing practice
      617 7  -  By JACQUELINE WOO This article was first published in MyPaper on Dec 17, 2013 YOU are a top investment bank or an IT giant and a massive project has just come your way. But your headcount has been trimmed over the years as your
      ST FILE PHOTO  -  617 words
    • Article, Illustration
      Lock icon Geopolitical risk seen for Asia-Pac
      1010 9  -  Financing costs will rise for region when US tapers monetary stimulus, adds S&P By SIOW LI SEN lisen@sph.com.sg CHINA’S competing territorial claims has increased the risk for the Asia-Pacific while the region’s cred-it-fuelled growth will face higher financing costs when the US tapers its monetary
      Source: Standard & Poor’s  -  1,010 words
    • COMPANY BRIEFS
      • Article
        Lock icon Linc Energy gains 20% on SGX debut
        99 9 UPSTREAM oil and gas firm Linc Energy, which is moving from the Australian Securities Exchange to the Singapore Exchange (SGX), made a sparkling debut on the latter yesterday. Its share price closed at $1.435, almost 20 per cent higher than the offer price
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      • Article
        Lock icon ST Kinetics to start business in Brazil
        131 9 TWO wholly-owned units of Singapore Technologies Kinetics (ST Kinetics) SDG Kinetics Pte Ltd and Autonomous Technology Pte Ltd have set up a wholly-owned subsidiary in Canoas, Brazil. ST Kinetics is the land systems arm of ST Engineering. The new subsidiary, LeeBoy Brazil Equipamentos
        131 words
      • Article
        Lock icon Mermaid bags US$32m subsea support deal
        100 9 MERMAID Offshore Services Ltd (MOS), a subsidiary of Mermaid Maritime Public Company Ltd (Mermaid), has been awarded a subsea construction support services contract with an estimated value of US$32 million. The contract was awarded by a contractor in Thailand that is serving a “major
        100 words
      • Article
        Lock icon China Print Power in HK$106m placement
        79 9 CHINA Print Power Group is planning a conditional placement of up to 41.8 million placing shares to at least six placees who are independent third parties. Priced at HK$2.60 per share, the estimated net proceeds from the placing stand at about HK$106.4 million (S$17.3
        79 words
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      445 6 Dell recommends Windows. The power to do more Beauty. Power. Precision. Dell Precision™ M3800 Recommended Price *3,233 Dell Precision™ T1700(SFF) Recommended Price *1,650 Introducing the Dell Precision M3800 At 18mm thin, you get the performance you need in the design you want. The thinnest and lightest 15" workstation to run
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      95 7 tv j i I_ jr-. r J j* I TIT JP i 5. 1 r 1 '/J I (f. 'I y w MERRy CHRISTMAS IT HAPPY NEW YEAR mk m 1' •Jw I T-fK S5 7 v MALAYSIA: EMPIRE SHOPPING GALLERY LOT UG 25 SINGAPORE: 100AM AMARA #01-01 I CLIFFORD
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Traders churn penny stocks; STI slips
      585 8  -  Market’s traded dollar value hit by holiday season and caution over the US Fed meeting STOCKS R SIVANITHY sivan@sph.com.sg Senior Correspondent ONCE short-covering is completed, support for stocks vanishes and prices tend to drift lower as the selling resumes. Such was the case yesterday
      Source: Bloomberg  -  585 words
    • Article, Illustration
      Lock icon STRAITS TIMES INDEX
      4 8 DAILY
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Dec 18 VALUE CLOSE BT OB/OS -418.0 +171.0 BT CADI -*****.0 +39.0 BT 10-day MA -*****.00 -42.00 FTSE ST Mid Cap 704.14 -1.05 FTSE ST Small Cap 527.24 +1.79 FTSE ST All Share 744.27 -1.06 FTSE ST China Top 194.91 +1.04 FTSE ST China 219.86 +1.14 FTSE
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    • Article
      Lock icon MOST ACTIVE STOCKS
      59 8 VOLUME KLW Hldgs 625,643,000 Albedo 200,766,000 HanKore 185,269,000 Otto Marine 170,374,000 Vallianz Hldgs 121,344,000 ICP 91,820,000 EMS Ener 80,803,000 OEL 79,655,000 Malacca Trust 79,058,000 Charisma Energy 72,579,000 VALUE($) DBS Grp 83,624,432 Keppel Corp 61,257,960 SingTel 53,928,760 OCBC Bk 38,445,795 UOB 31,924,652 Genting SP 27,524,315 GLP 25,137,680 KLW
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 5 5 0 0 0 3 5 5 Manufacturing 46 34 37 5 6 6 51 40 43 Commerce 16 16 18 5 1 3 21 17 21 Tpt/Stor/Comms 11 10 16
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    • BROKERS’ TAKE
      • Article, Illustration
        Lock icon AusGroup
        300 8 Dec 18 close: S$0.18 DMG Partners Research, Dec 18 WHILE AusGroup has sufficient cash today to meet its present needs due to the sale of its Singapore property in July 2013, the A$21 million (S$23.5 million) gross loss in Q1 2014 is a strong indicator of high ongoing cash
        Source: Bloomberg  -  300 words
      • Article
        Lock icon Singapore Consumer
        298 8 DBS Vickers Research, Dec 18 FOLLOWING disappointing Q3 results, we have reduced revenue and net profit growth for consumer companies under our coverage. We now expect FY2013/14 forecast revenue growth of 4 per cent/7 per cent, from 6 per cent/8 per cent, previously. Coupled with expectations of weaker
        298 words
      • Article
        Lock icon Singapore Banks
        338 8  -  Compiled by KENNETH LIM Maybank Kim Eng Research, Dec 18 WITH the odds of the US Federal Reserve tapering its quantitative easing programme on the rise, interest rates are set to rise. The implica- tions will manifest in banks’ net interest margin (NIM), asset quality and loan growth.
        338 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 8 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 20,157 20,157 79,519 79,519 Manufacturing 357,488 724,823 1,082,311 96,826 22,207 119,033 Commerce 62,155 484,105 546,260 43,434 48,929 92,363 Tpt/Stor/Comms 83,662 18,388 102,050 120,666 2,242 122,908 Finance 29,200 79,102 108,302 167,039 20,568 187,607 Construction 27,957 74,406
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    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      114 8 Stock name Close Change CapMallsAsia 1.900 -0.005 CapitaLand 2.960 +0.010 CapitaMall 1.835 -0.015 CityDev 9.560 -0.030 ComfortDelGro 1.940 -0.005 DBS Grp 16.490 -0.040 GLP 2.910 +0.020 Genting SP 1.465 +0.010 Golden Agri 0.535 -0.005 HK Land 5.690 +0.030 HPH Trust US$ 0.640 JMH 51.220 -0.220 JSH
      114 words
    • Article, Illustration
      Lock icon Yen falls against US$ on record trade gap
      496 8 CURRENCIES Bloomberg [EDINBURGH] The yen yesterday weakened for the first time in four days against the US dollar after Japan reported a record November trade deficit, eroding the currency’s haven appeal. Japan’s currency fell against all but two of its 16 major
      Bloomberg; PHOTO: BLOOMBERG  -  496 words
    • Article
      Lock icon RISES
      119 8 BY CENTS CLOSE UP Hyflux 6% CPS 10 ***** 80.0 0.7 CIMBAsean40 100US$ 1011 15.1 1.2 Lyxor China H 10US$ 1470 13.8 0.8 DBXT MSTHAI 10US$ 1886 12.6 0.5 Lyxor MS India 10US$ 1306 10.1 0.6 Lyxor Russia 10US$ 408 10.1 2.0 IS MS India 100US$ 586 8.8 1.2
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    • Article
      Lock icon FALLS
      120 8 BY CENTS CLOSE DOWN DBXT SPASX200 10US$ 3690 -566.3 -10.9 DBXT FTChina25 10US$ 2991 -146.0 -3.7 DBXT iBoxxSing 5SG$ ***** -66.0 -0.5 IS MSCI Spore 1269 -64.2 -3.9 GLD 10US$ ***** -41.5 -0.3 Jardine C&C 3394 -41.0 -1.2 JMH 5122 -27.7 -0.4 Keppel Corp 1056 -25.0 -2.3 SGX.ES.1312 697
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 8 DAILY
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      274 9 Celebrate this Christmas with SPGG! The Singapore Polytechnic Graduates’ Guild (SPGG) founded in 1971 has a storied history of more than 42 years. Located on the fringe of Dover Road, just a stone’s throw away from Singapore Polytechnic, the club bursts with a comprehensive range of sporting, recreational, social and
      274 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Corporate responsibility reporting gaining ground
      508 10  -  Survey shows 37 point rise among S’pore companies from 43% in 2011 By CHAN YI WEN By yiwenc@sph.com.sg CORPORATE responsibility reporting is fast gaining traction here, a survey has found. Singapore can count itself among the countries with the highest growth in corporate responsibility reporting,
      Source: The KPMG Survey of Corporate Responsibility Report 2013  -  508 words
    • Article, Illustration
      Lock icon ‘PSI Singapore‘ top Google search term in S’pore in 2013
      416 10  -  By JACQUELYN CHEOK jaccheok@sph.com.sg WHEN the haze hit South-east Asia in June this year, Singaporeans turned to Google to clear the air about what was polluting their country. Because of their relentless quest for minute-to-minute updates on Pollutant Standards Index
      FILE PHOTO  -  416 words
    • Article
      Lock icon Travel website secures $500,000 funding
      251 10  -  By JACQUELYN CHEOK By jaccheok@sph.com.sg SINGAPORE-BASED travel website BeMyGuest yesterday announced that it had secured $500,000 in funding from South Korea’s third-largest online travel market Tidesquare. BeMyGuest focuses on promoting small, local and independent travel-related businesses across Asia. “We are disrupting a traditional industry by
      251 words
    • Article, Illustration
      Lock icon Maachu makes it easier to find that perfect job candidate
      1012 10  -  By VIVIEN SHIAO vshiao@sph.com.sg IT is something every job seeker has to go through before landing that dream job: writing the perfect curriculum vitae and praying it catches the recruiter’s eye. However, having to sort through hundreds of applicants is
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    • Article
      Lock icon S’pore firm launches global website for Muslim tourists
      317 10 AFP [SINGAPORE] A new website for Muslim travellers which includes a global directory of halal restaurants and dedicated city guides was launched yesterday in a bid to capitalise on the growing number of Islamic tourists. Singapore-based firm Crescentrating said that the site,
      AFP  -  317 words
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      84 10 Myanmar Supply Chain Management Conference 2014 4-6 March 2014 Traders Hotel, Yangon www.mscm.sphereconferences.com New Dates, New Pricing! Early bird discounts till 1st Dec 2013. Save up to USD 441 Opening Address by H.E U Nyan Htun Aung, Minister forTransport, Union of Myanmar -U'fT^r U Aung MawThein Myanmar Distribution Group n
      84 words
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      66 10 www.itshow.com.sg Join us at #1 LARGEST I.T, DIGITAL, MOBILE, CONSUMER ELECTRONICS EXHIBITION IN SINGAPORE COMING SOON! 27th FEB 2nd MAR 2014 MARINA BAY SANDS SINGAPORE EXCLUSIVE SHOW OFFERS, NEW PRODUCTS, GREAT BARGAINSAND HUGE SAVINGS FOR PERSONAL, BUSINESS OR HOME Organised By: (ORGANISER OF IT SHOW, FOOD BEVERAGE FAIR, COMEX, WORLD
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon KLIA2 opening may be delayed beyond May
      411 11 3-month operation rehearsal can’t start if contractors don’t finish by end-Jan [KUALA LUMPUR] Doubts have resurfaced over the opening of the RM4 billion (S$1.54 billion) Kuala Lumpur International Airport 2 (KLIA2), which is scheduled for May 2 next year. Malaysia Airports Holdings Bhd
      411 words
    • Article
      Lock icon JFX gets nod to launch 2 commodity contracts
      313 11 Reuters [JAKARTA] The Jakarta Futures Exchange (JFX) has received government backing to launch coffee and rubber futures contracts, a regulatory official said yesterday, as Indonesia moves to secure itself a bigger role in pricing commodities. Indonesia is the world’s biggest exporter of
      Reuters  -  313 words
    • Article, Illustration
      Lock icon Bank Negara to revise rate framework
      350 11 Base lending rate has become less relevant: governor [KUALA LUMPUR] Bank Negara Malaysia (BNM) is formulating a new interest rate framework for the measurement of the Base Lending Rate (BLR) next year to further enhance the country’s financial system. Governor Zeti Akhtar Aziz said
      PHOTO: REUTERS  -  350 words
    • Article
      Lock icon Bumi investors okay US$501m deal to cut Bakrie ties
      385 11 Bloomberg [LONDON] Investors in Bumi Plc, the coal producer at the centre of an ownership dispute between its founders, approved a US$501 million agreement to separate the company from one of its original Indonesian partners. Shareholders backed the transaction that’s due
      Bloomberg  -  385 words
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon Chinese stock market may outperform India next year
      736 12 Analysts cite cheap valuations and optimism about Beijing’s reforms Reuters [HONG KONG] Chinese shares may be poised to become an unlikely star of Asian emerging markets next year, outshining India, thanks to cheap valuations and optimism about reforms. Investors have been underweight
      Reuters; PHOTO: AP  -  736 words
    • Article
      Lock icon China’s Jan-Nov investments abroad surpass total for last year
      422 12 AFP [BEIJING] Chinese overseas investment rose to US$80.2 billion in the first 11 months of 2013, the government announced yesterday exceeding the entire total for last year. Outbound investment calculated on the basis of deals closed rose 28.3 per cent in
      AFP  -  422 words
    • Article, Illustration
      Lock icon India removes US Embassy’s security barriers in diplomatic spat
      656 12 Reuters [NEW DELHI] Indian police removed concrete security barriers outside the US Embassy in New Delhi on Tuesday in apparent retaliation for the treatment of an Indian diplomat who was strip-searched after her arrest in New York last week. The diplomatic
      Reuters; PHOTO: REUTERS  -  656 words
    • Article
      Lock icon Indian central bank holds rates in surprise move
      584 12 But RBI says it’ll act if inflation does not ease as expected Reu ters [MUMBAI] The Reserve Bank of India (RBI) unexpectedly kept the country’s policy interest rate on hold yesterday, despite calling current inflation too high, citing the prospect of easing
      Reuters  -  584 words
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      15 12 klSS92 FM place one in great songs the Alt >^\ A 'A Wa mMMm r -d
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      67 12 tl SGPFaY Singapore Gifts Premiums Fair 2014 16 -18 July 2014 Marina Bay Sands, Singapore www.SGPFair.com For Exhibitors! Extensive publicity Quality crowd Convenient location Reserve your prime spot TODAY! Email: SGPFair@bizlink.com.sg Tel: (65) 6848 5938 Organised By: BIZLINK Exhibition Services Pte Ltd A SUBSIDIARY OF S|£l Blk 8 Lorong Bakar
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  • WORLD
    • Article
      Lock icon Tech leaders press Obama to rein in electronic spying
      659 13 They urge him to move aggressively on reform of surveillance methods Reuters [WASHINGTON] Technology company executives pressed President Barack Obama on Tuesday to rein in the US government’s electronic spying after a court dealt a blow to the administration’s surveillance practices.
      Reuters  -  659 words
    • Article, Illustration
      Lock icon Denmark mulls rules on use of virtual currency
      892 13 It will work with other nations to design a framework crime. Bloomberg, Reuters [COPENHAGEN] More and more nations are taking an official stance on virtual currencies that aren’t controlled by any government or central bank. Denmark is the latest to prepare standards
      crime. – Bloomberg, Reuters; PHOTO: BLOOMBERG  -  892 words
    • Article
      Lock icon Greek workers suffer late salaries; payments in kind
      561 13 Unemployment rate is more than 27%, with some 1.37m people registered as jobless AFP [ATHENS] In the crisis-hit, jungle-like Greek job market, not only has unemployment reached staggering heights, but salaries have been paid with huge delays and sometimes employees are even
      AFP  -  561 words
    • Article, Illustration
      Lock icon Goldman faces fines in EU probe into private deal
      739 13 Private equity unit named as part of power cable cartel Bloomberg [BRUSSELS] Goldman Sachs Group may be fined early next year as part of a European Union antitrust probe into an underwater power cables cartel that tests regulators’ ability to penalise
      Bloomberg; PHOTO: REUTERS  -  739 words
    • Article, Illustration
      Lock icon Japan posts record trade deficit on yen’s slide
      638 14  -  Nov’s figure is just under 1.3t yen as fuel and other imports cost more By in ANTHONY ROWLEY in Tokyo THE downside of a weak yen became painfully obvious last month as Japan’s trade deficit hit a record of just under 1.3
      PHOTO: AFP  -  638 words
    • Article, Illustration
      Lock icon Australia central bank: ‘open mind’ on rate cuts
      572 14 But individuals, firms must help to stimulate economy AFP [SYDNEY] Australia’s central bank is keeping an “open mind” on rate cuts but individuals and firms must play their part to stimulate the economy as the mining boom unwinds, its governor said yesterday.
      AFP  -  572 words
    • Article
      Lock icon Global migrants remit over US$500b yearly: report
      696 14 Bloomberg [CHICAGO] International migrants are sending more than US$500 billion back to family members each year, almost triple the figure since 2000, providing a major economic boost to less affluent nations, a Pew Research Center study shows. A rising share of migrants live
      Bloomberg  -  696 words
    • Article
      Lock icon Australia to ship more iron ore as miners shrug off China risks
      444 14 Reuters [SYDNEY] Australia raised its forecasts for exports of iron ore and metallurgical coal its two top export revenue earners reflecting massive expansion work underway to meet demand for raw materials to make steel in China. Despite moves
      Reuters  -  444 words
    • Article
      Lock icon A$100m fund for regions hit by GM’s 2017 exit
      257 14 Reuters [SYDNEY] Australia is setting up a A$100 million (S$112 million) fund to support regions affected by General Motors’ decision to stop production in the country by 2017, including directly supporting those workers affected by the decision. GM, the world’s second-biggest
      Reuters  -  257 words
    • Article, Illustration
      Lock icon US budget deal heads for final Senate passage
      640 15 Legislation is a rare display of bipartisanship and a modest achievement AP [WASHINGTON] Legislation to ease chronic budget brinkmanship in the US Congress and soften across-the-board spending cuts moved to the cusp of final passage on Tuesday, a rare display of Senate
      AP; PHOTO: AFP  -  640 words
    • Article
      Lock icon Aussie stocks trail world by most in 2 years
      702 15 Economy under pressure, consumer confidence drops Bloomberg [SYDNEY] Australian stocks are poised for the worst quarter relative to global equities in two years as manufacturers from Ford Motor Co to General Motors Co exit the nation and consumer confidence drops. The
      Bloomberg  -  702 words
    • Article
      Lock icon US$8.17b set aside to rebuild lives after Haiyan
      343 15 AFP [MANILA] The Philippine government launched a US$8.17 billion plan yesterday to rebuild the lives of millions battered by Super Typhoon Haiyan. President Benigno Aquino appealed for international assistance and private sector pledges to help his government rehabilitate hundreds of devastated communities
      AFP  -  343 words
    • Article
      Lock icon Agreement on eurozone bank closure funding
      636 16 Ministers make progress towards banking union Reuters [BRUSSELS] Eurozone finance ministers made progress yesterday on some details of a plan to close banks, paving the way for completion of a eurozone ‘banking union’ that is to restore confidence in the financial sector and boost
      Reuters  -  636 words
    • Article, Illustration
      Lock icon German business confidence ends the year on high note
      548 16 Ifo business climate index moves up to 109.5 points in Dec, highest since Apr ‘12 AFP [FRANKFURT] The German economy, Europe’s biggest, ended the year in “festive mood", with confidence rising to a 21-month high and expectations at the highest level
      AFP; PHOTO: REUTERS  -  548 words
    • Article
      Lock icon UK unemployment rate hits four-year low
      420 16 AFP [LONDON] British unemployment has hit a four-year low, official data showed yesterday, but the Bank of England hinted that record-low interest rates would remain on hold for some time. The unemployment rate slid to 7.4 per cent in the three months to October
      AFP  -  420 words
    • Article
      Lock icon EU looks into UK price support for EDF nuclear plant
      399 16 Reuters [BRUSSELS] European Union state aid regulators launched yesterday an investigation into proposed British support for a £16 billion (S$33 billion) nuclear power plant to be built by Electricite de France (EDF), saying they had doubts the project needed help.
      Reuters  -  399 words
    • Article, Illustration
      Lock icon The Royal Warrant: a valuable boost to business
      680 16 AFP [LONDON] When Britain’s royal family grants a warrant to its favoured supplier of tea or salmon, it is not only an honour for the firm but also provides a major boost in the global marketplace. The strength of the Windsor brand
      AFP; PHOTO: AFP  -  680 words
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  • Page 14 Advertisements
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      Lock icon Page 14 Advertisements Column 1
      50 14 HOT PROPERTY MOUNTBATTEN SUITES 1+1 n furn. 484snff iu- F SSt v,ew 78 K. Expats' CWce y Sf H udia°43i L sf f/h°° Chiat h/Pa k^ea r EAST APARTMENTS FOR RENT Check this and many other properties in CATS Classified in The Straits Times now! WATS BUY IT-SELL IT-FIND IT
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      40 14 PRIYANKA PACKS A PUNCH Nohitsbut 2013is themost successful yearforhe outside Bollywood r FIVE INDIANS ON WHAT THEY WOULD LIKE TO SEE IN LITTLE INDIA GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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      1591 15 WATS NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices IN THE MATTER OF THE COMPANIES ACT CAP 50 AND IN THE MATTER OF ASIAN AVIATION SERVICES PTE. LTD. (Co. Reg. No. *****1071K) NOTICE OF RESOLUTION FOR MEMBERS’ VOLUNTARY WINDING-UP (Pursuant to Section 290) At the Extraordinary General Meeting of the members
      1,591 words
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  • AVIATION/SHIPPING
    • Article
      Lock icon Premium travel on upward path, rising 5.6% in Oct
      423 17  -  Improving business confidence, growth in regional Asian trade fuel demand By NISHA RAMCHANDANI nishar@sph.com.sg INTERNATIONAL premium travel continued on an upward path in October, with the number of passengers increasing 5.6 per cent year-on-year, following a 4.3 per cent expansion in
      423 words
    • Article, Illustration
      Lock icon Washington state courts Airbus as Boeing moves HQ
      738 17 AP [SEATTLE] Even as they try desperately to hang on to Boeing Co, officials in Washington state have been courting the main competitor of the aerospace giant. During the past several months, state officials have travelled to the US headquarters of Airbus
      AP; PHOTO: AP  -  738 words
    • Article
      Lock icon Sugar shipments point to higher China demand
      481 17 Bloomberg [LONDON] Brazil, the world’s largest sugar producer, is boosting shipments to China, fuelling speculation that demand in the world’s second-biggest importer of the raw sweetener will exceed forecasts for a second year. Vessels scheduled to sail from Brazil’s main ports on Dec
      Bloomberg  -  481 words
    • Article
      Lock icon Wall St firm settles 9/11 case against American
      972 17 Cantor Fitzgerald which lost 658 staff to receive US$135m NYT [NEW YORK] More than a dozen years after the Sept 11 attacks, a last major piece of litigation against the airline industry and other defendants moved towards an end on Tuesday, as
      NYT  -  972 words
    • Article
      Lock icon TRANSPORT STOCKS
      237 17 SGX '000 Dec 18 S$ +/-Vol Ch Offshore '000 Chuan Hup Hldg 0.26 0.01 50 s$ Cwt Limited 1.35 0.01 218 Ezra Hldgs 1.41 unch 5004 First Ship Lea 0.42 Grand Banks unch unch 0 Jaya Hold Ltd 0.68 unch 139 K1Ventures 0 26 Keppel Corp 10.56 -0.25
      237 words
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  • Page 17 Miscellaneous
    • Miscellaneous
      Lock icon Page 17 Miscellaneous Column 1
      359 17 CRYPTIC CROSSWORD Across 1 Ornament a lunatic knocked over histrionic incident (9) 9 Wise man encapsulating Irish image, not what it seems (6) 10 Sin-adorer upsetting bishops? (9) 11 Bad feeling bird gets by river (6) 12 Paper transported as liquid? Fantastic notion! (4,5) 13 One of eight getting a
      359 words
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  • EDITORIAL & OPINION
    • Article
      Lock icon Najib must tread warily on fiscal measures
      484 18 EDITORIAL WHILE Malaysia’s growth story remains good, Prime Minister Najib Razak should be careful about pushing through fiscal consolidation too rapidly. Next year will be a bleak one for Malaysia’s middle class, who are already struggling with the cost of living. Almost immediately
      484 words
    • Article, Illustration
      Lock icon Are Americans becoming more isolationist?
      781 18  -  THE BOTTOM LINE LEON HADAR Washington Correspondent FOR the first time in 40 years, a majority of Americans believe that US global position is declining, and are expressing growing opposition to American military intervention around the world. A recent Pew Survey found that 70 per
      781 words
    • Article, Illustration
      Lock icon Subsidies and populist policies will not win votes
      1097 18  -  India’s UPA govt must realise that what is needed is reforms to ensure sustainable growth By NEETA LAL The writer is a New Delhi-based journalist HE biggest takeaway for the incumbent Congress-led UPA (United Progressive Alliance) government from the just-concluded assembly elections
      PHOTO: AP  -  1,097 words
    • Article, Illustration
      Lock icon Enhancing disclosures on exec pay
      1200 19  -  Executive remuneration is closely scrutinised by shareholders. Here are tips to improve a company’s annual pay report By SHAI GANU The writer is a principal in Mercer’s talent consulting business based in Singapore. He leads Mercer’s executive remuneration segment for Asean. AMUEL Johnson, the celebrated
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    • Article, Illustration
      Lock icon The challenges of growing in emerging markets
      878 19  -  By LINDA LOH The writer is an associate director with Ipsos Business Consulting’s Singapore office. Ipsos is a global market research company with offices in over 84 countries with 16,000 staff worldwide IT seemed like a good business opportunity at the time. Company
      PHOTO: BLOOMBERG  -  878 words
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  • Article
    Lock icon Shipping Times
    1532 20 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
    1,532 words
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      3147 21 Transaction date: Dec 18 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 11.5 8Telecom Last Sale Vol Day Last Quote ('000) High Low Buyer Seller Div Gr Yld 10 6.9 AIMS
      3,147 words
    • Article
      Lock icon SGX CATALIST
      301 22 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 37 17.3 t 3Cnergy 500 Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale (‘000) High Low Buyer Seller
      301 words
    • Article
      Lock icon UNIT TRUST & FUNDS
      11149 22 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.49/ Aberdeen Asset Mgt Asia Limited Aberdeen Asset Mgt Asia Limited EM Local Ccy Bond Asian Smaller Cos! China Opportunities!' 2.7956/ FM local Ccy Bond 0 9018/ European Opportunities!" 1.2551/ Global Emerging Markets'" Global Opportunities/"
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    • Article
      Lock icon GLOBALQUOTE
      257 22 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Company 52 32.5 Genting HK US$ US40.5 +0.5 2873 40.5 40 40 40.5 2666.7 6.6 2 OGL Resources A$ A2.3 +0.3 8 2.4 2.3 2 2.3 0.3
      257 words
    • Article
      Lock icon SGX ETF
      851 22 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Company 143 125 CIMB APAC Div 100S$D 125 124.3 125.2 114.4 99.2 CIMB APAC Div 100US$ US99.7 99 99.4 10.5 1510 1192 CIMBASEAN40 100S$D 1256 1263
      851 words
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      725 23 Dec 18 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.24 *****.42 *****.18 Mar14 *****.00 *****.00 *****.00 *****.00 ***** *****2 Jun14 *****.00 *****.00 *****.00 *****.00 5 1760 MSCI TAIWAN INDEX FUTURES SPOT 293.95 294.40 292.22 Dec13 293.40 294.10 292.00 292.50 ***** *****9 Jan14 292.90
      725 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 23 In local curr In S$ In US$ dy yr dy yr dy yr Dec 17 Index Change Change Change Change Change Change World Preliminary 1135.5 -0.4 21.0 -0.2 22.5 -0.4 18.9 EAFE Preliminary 911.8 -0.3 17.7 -0.2 17.1 -0.4 13.7 Europe Preliminary 1292.4 -0.7 12.7
      373 words
    • Article
      Lock icon INTERBANK CROSS RATES
      471 23 Dec 18 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.945 5.408 0.647 6.905 55.129 108.471 0.917 9.364 2.902 1.079 94.896 39.434 1.121 9.218 0.789 26.467 28.753 0.547 0.891 Canada 1.058 5.722
      471 words
    • Article
      Lock icon SIBOR
      38 23 Dec 18 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) (S$) 3 mths ..0.***** Source: Thomson Reuters
      38 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      92 23 Dec 18 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 6-Month BS*****F 13-Jun-14 0.28 1-Year BY*****T 31-Oct-14 0.29 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0W 1.13 01-Apr-16 101.69 101.70 101.70 5-Year N*****0T 0.5 01-Apr-18 98.61 98.78 98.63
      92 words
    • Article
      Lock icon PRECIOUS METALS
      143 23 Dec 18 GOLD(US$/oz) Dec 18 Dec 17 Hong Kong 1243.00 1248.00 Dec 17 Dec 16 London 1229.30 1242.04 1230.30 1242.91 Source: Thomson Reuters Source: Thomson Reuters CAST BAR Dec 18 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 112 50 5gm 318 249
      143 words
    • Article
      Lock icon PALM OIL
      59 23 Dec 18 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 14 2513.0 2502.0 2535.0 2502.0 1019 8253 Feb 14 2537.0 2533.0 2565.0 2527.0 8391 ***** Mar 14 2554.0 2552.0 2583.0 2545.0 ***** ***** Apr 14 2560.0 2560.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 23 Dec 18 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1207 1.1214 0.8905 0.8910 Canadian dollar 1.1858 1.1866 0.9428 0.9422 Euro 1.7331 1.7335 1.3771 1.3773 NZ dollar 1.0384 1.0388 0.8251 0.8254 Sterling pound 2.0490 2.0498 1.6281 1.6286
      155 words
    • Article
      Lock icon CHICAGO BOT
      109 23 Dec 17 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 14 1346.50 1337.75 1350.00 1328.50 Mar 14 1334.75 1325.25 1338.50 1316.25 May 14 1317.25 1308.25 1320.00 1299.50 Jul 14 1303.25 1294.00 1305.00 1286.50 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jan 14
      109 words
    • Article
      Lock icon LIFFE
      94 23 Dec 17 COCOA (£/tonne) Close Prev High Low Mar 14 1784 1784 1799 1778 May 14 1771 1768 1782 1765 Jul 14 1754 1754 1768 1749 Sep 14 1746 1751 1762 1741 COFFEE(US$/tonne) Close Prev High Low Jan 14 1718 1771 1770 1700 Mar 14 1717 1768 1768 1707
      94 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1104 23 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 20 0.0 5 -82 55 Asia-Pacific Strategic W*****6 Ratio Exer Price Ascendas Reit MB ECW*****3 Disc Asiatic Grp(Hldgs) Ltd W*****5 2.4 0.1 649 0.0 2 21 Asiatravel.com HoldingsW*****7
      1,104 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 23 CRUDE OIL PRODUCTS Dec 17 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 108.61 -1.34 WTI (Near Mth) 97.08 -0.35 Dubai (1-Mth F) 105.46 -0.70 Tapis blend 114.62 -0.73 Minas 108.12 -0.73 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 106.33 unch Jet Kerosene 125.45 -0.12 US$/barrel OpecOil Basket
      70 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      22 23 Dec 18 S$ Bid Offer 1-month 1.2585 1.2586 2-months 1.2584 1.2585 3-months 1.2584 1.2585 6-months 1.2580 1.2582 Source: OCBC
      22 words
    • Article
      Lock icon LONDON METALS
      65 23 Dec-17 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1752.75 1755.25 3 months 1798.00 1799.00 Copper, Grade A(US$/tonne) Cash 7295.00 7276.50 3 months 7278.00 7255.00 Lead(US$/tonne) Cash 2147.30 2133.00 3 months 2173.00 2150.00 Nickel (US$/tonne) Cash *****.50 *****.50 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.50 3 months *****.00
      65 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 23 As at 9am Dec 18 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.147 1.093 Can dollar 1.207 1.161 Euro 1.771 1.687 Sterling pound 2.085 2.005 NZ dollar 1.064 1.024 US dollar 1.283 1.222 Local dollars to 100 units of foreign
      121 words
    • Article
      Lock icon INTERBANK RATES
      157 23 Dec 18 $S Offer Bid 0vernight 0.05 0.02 1-month 3/8 1/4 2-months 3/8 1/4 3-months 7/16 5/16 Overnight mode: 0.02 US$ Offer Bid 7 days 0.20 0.10 1 month 0.30 0.15 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
      157 words
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  • PROPERTY
    • Article, Illustration
      Lock icon Contractors and workers at odds over scaffold law
      1267 24 Insurers, contractors and property owners move to repeal legislation NYT [NEW YORK] In 1885, as new engineering inventions were ushering in the era of the skyscraper, lawmakers in New York state enacted a law intended to safeguard construction workers who were finding
      NYT; PHOTO: REUTERS  -  1,267 words
    • Article
      Lock icon Househunt
      433 24 PROPERTY TRANSACTIONS FOR DISTRICTS 2 TO 27 WITH CONTRACT DATES BETWEEN NOV 13 AND NOV 19, 2013 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 2 NON-LANDED Caribbean At Keppel Bay Apt 14/11/2013 99 1356 2320 1711 Corals At Keppel
      433 words
    • Article
      Lock icon Commonwealth retail fund to pay A$460m for management
      619 24 This will give CFS Retail Property Trust control of A$516b of properties Bloomberg [SYDNEY] Commonwealth Bank of Australia’s managed retail property trust agreed to pay A$460 million (S$516 million) to take over its operations from the lender. The agreement will give CFS
      Bloomberg  -  619 words
    • Article, Illustration
      Lock icon Rolled over sites to steal limelight in H1 2014 GLS
      1269 25  -  Expected to garner interest are Prince Charles Crescent, Choa Chu Kang Drive land parcels By KALPANA RASHIWALA kalpana@sph.com.sg [SINGAPORE] Ministry of National Development (MND) may have introduced seven new sites across the confirmed and reserve lists for the H1 2014
      1,269 words
    • Article
      Lock icon Signs of China property easing on govt measures
      492 25 Monthly price gains in November are the slowest this year Reuters [BEIJING] China’s home prices rose at the quickest annual pace on record in November, but signs emerged that the government’s four-year effort to cool the market may be starting to bear
      Reuters  -  492 words
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  • Page 25 Advertisements
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      Lock icon Page 25 Advertisements Column 1
      280 25 FIABCI Pnx d Excellence Award 2013 smaran lii 'I ft-,.. I 1 IT IIS uwi mi The penthouses of Soleil Sin a ran embody the very finest in ultimate luxury living. The desirability is further heightened by the rarity of these 5-bedroom single storey penthouses, each spanning over 4,700sq ft.
      280 words
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  • Page 26 Advertisements
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      Lock icon Page 26 Advertisements Column 1
      104 26 r r MITSUBISHI ELECTRIC (Changes for the Better I A MITSUBISHI ELECTRIC INVERTER I vjAjs Excellent Energy EASIEST To Clean! teachable Inner Vent for Easy Clean UIETES > f I I II V m oil IT A I V V. 5 Air-Conditioner 9S? »v fitsubishi leclric Quality for a greener
      104 words