The Business Times, 2 May 2014

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Total Pages: 33
1 36 The Business Times
  • 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 Friday, May 2, 2014
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  • 721 1  -  Help is being offered to older workers who want to work beyond 65 years, he says By LEE U-WEN leeuwen@sph.com.sg @LeeUwenBT [SINGAPORE] The government is throwing its full support behind the tripartite effort to extend the re-em-ployment age in Singapore beyond 65. Speaking
    PHOTO: DESMOND FOO/THE STRAITS TIMES  -  721 words
  • 681 1  -  By LEE MEIXIAN leemx@sph.com.sg @LeeMeixianBT [SINGAPORE] Surbana International Consultants is on an acquisition path to bulk up and fight off intensifying competition from rivals in the region and globally. The urban solutions consultancy firm is preparing to splash $120 million on buying two
    PHOTO: ARTHUR LEE  -  681 words
  • Page 1 Advertisements
    • 101 1 COMPANIES Collateral-free OCBC loan for startups PAGE 6 OPINION Asian bonds: Retail share must rise PAGE 25 ARTS S’pore photographers make a point PAGE 33 WINE Time transforms an ugly duckling PAGE 36 Guggenheim looks east EXECUTIVE LIFESTYLE PAGE 31 FOR SALE: Twenty-four choice landed homes in Districts 9 10
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    • 27 1 Read Boardroom Matters, a series of articles from the Singapore Institute of Directors on issues relevant to listed companies and corporate governance, on BTInvest every Friday: btd.sg/BMatters
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  • TOP STORIES
    • 475 2 Govt pushing to extend re-employment age: PM THE government is throwing its full support behind the tripartite effort to extend the re-employment age in Singapore beyond 65. Speaking at the annual May Day Rally, Prime Minister Lee Hsien Loong encouraged more older workers to continue working. FRONT PAGE
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    • 565 2 Reuters [BEIJING] Activity in China’s factories increased marginally in April but export orders fell sharply, a government survey showed yesterday, adding to questions about whether the world’s second largest economy is stabilising after its first-quarter slowdown. The data came a day after Premier
      Reuters; PHOTO: REUTERS  -  565 words
    • 610 2  -  CET campuses show govt’s commitment to help workers remain employable LABOUR CHALLENGES Reports by LEE U-WEN leeuwen@sph.com.sg @LeeUwenBT [SINGAPORE] The ongoing push to promote continuous education and training (CET) among workers is critical, especially in an era when knowledge becomes obsolete much
      PHOTO: DESMOND FOO/THE STRAITS TIMES  -  610 words
    • 362 2 [SINGAPORE] The Republic may experience the occasional hiccup such as public transport breakdowns and a bed crunch at hospitals, but the country does get things right most of the time. Labour chief Lim Swee Say said yesterday that no one could say they
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    • 310 2  -  By KELLY TAY kellytay@sph.com.sg @KellyTayBT [SINGAPORE] In its latest Macroeconomic Review, the Monetary Authority of Singapore (MAS) has said that the labour market remained tight in the second half of last year. This web chart (right) illustrates the continued crunch by comparing the
      BT Graphics: Kelly Tay and Jennifer Chua, Source: Monetary Authority of Singapore, EPG  -  310 words
    • 1235 4  -  They are hoping that undecided voters will choose to remain in Union in September referendum By NEIL BEHRMANN in London STERLING and the UK stock market have ignored the real possibility that the Scottish people may vote for independence in five months time. The
      PHOTO: REUTERS  -  1,235 words
    • 505 4 AFP [KUALA LUMPUR] Malaysia yesterday made public a report on Malaysia Airlines flight MH370 and other data in its most extensive release of information on the airliner yet, but which contained no new clues on what happened to the missing plane. The
      AFP; PHOTO: REUTERS  -  505 words

  • Page 3 Advertisements
    • 121 3 Swiss quality. The travel version. Fly directly from Singapore to Switzerland and experience how Swiss quality and hospitality can turn any journey into something special. Find out more on swiss.com r m 'h wwi-. r*-' s*- vvI -j b8 jwP ,v Si SiSS* ipjsfe^EI •> ,JT api'- SSI 1 r^i
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  • Page 4 Advertisements
    • 134 4 Attention Local Business Owners! Breach ourro^ 1.3MILLI0N POTENTIAL ■CUSTOMERS FOR FREE! •Average monthly visitors on STDirectory STDirectory.sg is offering a two-month free trial for an enhanced online directory business listing package to local businesses. This package includes: COMPANY LOGO Display your business logo to represent your company’s brand identity COMPANY
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  • Page 5 Advertisements
    • 418 5 DAWN SHIPPING GROUP "C OCL 0? DO s j' n> y m y r. rjJ i n I r Jo- 'Op nW •T to DP f MCO^ 5Hi pp D0- <£&«>?>. L*SS -r D} o Ml* 7 MITSUBISHI yn 4538U NLEA3; Gil TM1B2GM XD 2541L WL CdmrcCUihg USA > 4*
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  • COMPANY NEWS
    • 906 6  -  Observers say bank still needs personal guarantee, which no one will like to offer By JACQUELYN CHEOK jaccheok@sph.com.sg @JacCheokBT OCBC Bank has unveiled a first-of-its-kind collateralfree loan that provides startups as young as six months old with expedited access of up to $100,000, even as
      906 words
    • 523 6  -  Returns have been strong so far this year, and flows are returning to region BY SIOW LI SEN |isen@sph.com.sg @SiowLiSenBT INVESTING in Asian debt is a good way to pick up income, said Stephen Chang, head of Asian fixed
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    • 709 6  -  HOCK LOCK SIEW By R SIVANITHY sivan@sph.com.sg @RSivanithyBT IN a supposedly well-regulated, disclosure-driven stock market such as Singapore’s, it is acutely disappointing to see the responses given by some listed companies to requests from the Singapore Exchange (SGX) for more information on executive
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    • 277 6 Quotation of taxable book-entry Singapore Government Bonds (April 30,2014) GROSS REDEMPTION YIELD COUPON NUMBER OF DAYS OF ACCRUED INTEREST INTEREST PAYMENT DATES AMOUNT ($m) COUPON RATE CLOSING CLOSING PRICES* (EXCLUDING ACCRUED INTEREST) YEAR RAISED ISIN CODE MATURITY DATE 01.07.2014 NX*****F 2004 3 5/8 5800.00 1/1 1/7 119 100.56 0.35 SG**********
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  • Page 6 Advertisements
    • 103 6 IFBO VIETNAM 2014 International Franchise Business Opportunities 4-6 September 2014 10.00am 5.00pm Tan Binh Exhibition Convention Centre Ho Chi Minh City, Vietnam International franchise brands and business concepts under one roof Get free lessons on franchising from the experts! Pick up useful tips on doing business in Vietnam *Enjoy preferential
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    • 13 6 klSS 92^ All the great songs in one place_ S 5* Ki Va
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  • Page 7 Advertisements
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  • SINGAPORE NEWS
    • 512 8  -  Its flagship school which offers the IB programme will open here in Sept By KARA QUEK By karaquek@sph.com.sg GEMS Education, the world’s largest operator of private schools, aims to expand its brand of schools in the region over the next few years. Its
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    • 455 8  -  CEO says there is good demand in Europe and Japan By RONNIE LIM ronnie@sph.com.sg TO cater to strong demand in its key markets in Europe and Japan, Norwegian solar panel maker REC Solar ASA has approved a US$70 million expansion at its sole
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  • Page 8 Advertisements
    • 374 8 FORUM REAL ESTATE OPPORTUNITIES THE R S SE UP TO NGAPORE HE CHALLENGES PROPERTY MARKE i i ill fe! I Real Estate Professionals, earn 2 Non-Core CRD Credit Hours* when you attend this forum ii !0 PI P1 fliTi ...an nr sy mS. AN INSIGHT FOR REAL ESTATE PROFESSIONALS AND
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    • 25 8 One man’s junk is another man’s treasure Shop second-hand or sell your possessions in CLASS 162 To advertise, call the Print Classified Hotline: 1800-289 9988
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  • GLOBAL MEGATRENDS CONFERENCE 2014
    • 820 9  -  As the world undergoes a prolonged period of de-leveraging, the search for yield can be a frustrating one over the next few years despite pockets of optimism, reports FRANCIS KAN reports FRANCIS KAN INVESTORS should prepare themselves for a period of meagre returns
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    • 551 9  -  Profit from stocks with exposure to significant trends By FRANCIS KAN AS Indonesia transforms into an information economy, there will be huge opportunities to provide connectivity to consumers in the world’s fourth most populous country, according to Indonesian tycoon Mochtar Riady. Mr Riady is
      551 words
    • 424 9  -  By FRANCIS KAN EMERGING markets have fallen out of favour with investors in recent years, as fears of US quantitative easing and a sharp slowdown in China depressed stocks, bonds and currencies in this once prized asset class. Developing markets led by Asia
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  • Page 9 Advertisements
    • 88 9 Credit Suisse Our clients have individual goals and ambitions. Credit Suisse has been helping to achieve them. Since 1856. Credit Suisse. Winner of the Asian Private Banker Awards for Distinction 2013: Best Private Bank in Asia Best Private Bank in Philippines Indonesia Best Private Bank for Family Office Services Best
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  • MALAYSIA/INDONESIA
    • 576 10  -  S’pore has performed better year-to-date, but M’sia has more going for it in coming months By PAULINE NG in Kuala Lumpur LOOKING to buy Singapore or Malaysian equities? On a one-year time frame, opt for Malaysian equities. The recommendation by Citi Research follows
      576 words
    • 387 10 [KUALA LUMPUR] Malaysia Building Society (MBSB), which has trimmed its non-perform-ing loan (NPL) ratio to about 5.5 per cent from 40 per cent seven years ago, is looking at slimming it further to the industry level of 2 per cent
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    • 438 10 Reuters [JAKARTA] Indonesia’s industry ministry is considering changes to the country’s palm oil export tax system, a government official said on Wednesday, as the top producer and exporter of the edible oil looks to further promote downstream industries. South-east Asia’s biggest
      Reuters; PHOTO: BLOOMBERG  -  438 words
    • 269 10 [JAKARTA] Thousands of workers gathered at a main traffic circle in the Indonesian capital yesterday morning to mark International Workers’ Day and rally for higher wages and better conditions. Police estimated that around 50,000 workers representing various organisations from Jakarta and the surrounding
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  • Page 10 Advertisements
    • 1864 10 Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices IN THE HIGH COURT OF THE REPUBLIC OF SINGAPORE CWU O.S. No. No. 73 of 2014 In the Matter of the Companies Act, Chapter 50 And In the Matter of ENED ASIA PTE LTD (UEN No. *****6664K) Between LUTHER CORPORATE SERVICES PTE LTD (UEN
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    • 25 10 Get your 5th ‘C’ here Choose from various club memberships or sell yours in CLASS 66 To advertise, call the Print Classified Hotline: 1800-289 9988
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  • Page 11 Advertisements
    • 623 11 ASIAL JENRICH Publisher Media Consultancy WOULD LIKE TO CONGRATULATE ALL THE RECIPIENTS OF THE 2^13/2014 SINGAPORE ENTREPRENEURS’ AWARD Asia 1 Enrich A 2013/2014 -$t hoM P -ft Honoring The Below Companies For Their Outstanding Performance 96 Lilia Pte Ltd Advance-Tec Engineering Pte Ltd Aik Koon Tyre Battery Co. Pte Ltd
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  • CHINA/INDIA
    • 417 12 AFP [BEIJING] Chinese President Xi Jinping ordered a crackdown after a stabbing spree and an explosion at a railway station in the restive Muslim-majority region of Xinjiang left three people dead and 79 wounded, state media reported yesterday. The violence came as Mr
      AFP; PHOTO: REUTERS  -  417 words
    • 589 12 US will start special review in Sept, addressing concerns with next govt Reuters [NEW DELHI] India has proposed holding wider bilateral talks with the United States in June or July to address concerns over intellectual property (IP) rights and access to
      Reuters  -  589 words
    • 310 12 But no decision seen before Alibaba’s expected US IPO Reuters [BANGALORE] Alibaba Holdings Inc is in talks with major shareholders to reclaim a stake in fast-grow-ing online-payments affiliate Alipay, The Wall Street Journal reported on Wednesday, citing people familiar with
      Reuters  -  310 words
    • 233 12 Reuters [BEIJING] China’s commerce ministry has approved with conditions German liquid crystal maker Merck KGaA’s planned US$2.6 billion takeover of UK-listed AZ Electronic Materials. Merck, the world’s largest maker of liquid crystals used in TVs and tablet and smartphone screens, agreed in December
      Reuters  -  233 words
  • Page 12 Advertisements
    • 285 12 INTOThe YEAR! th Invest Fair continues to maintain its reputation as the LARGEST local investment exhibition with over 40 local and international exhibitors, over 50 free seminars, over 5 educational workshops and an average of 20,000 visitors over the weekend. 2nd-3rdAUG 2014 SINGAPORE suntec CONVENTION EXHIBITION CENTRE Malaysia MID Valley
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    • 73 12 Myanmar© Urban Development Conference 2014 26 -28 May 2014 Traders Hotel, Yangon Exclusively for International Developers! 50% discount off* published rate Register now! *Terms and Conditions apply Contact Jiahui at +65 6548 5378 or email at jiahui@sphereconferences.com Smart and Connected The only urban planning and infrastructure development conference dedicated to
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  • Page 13 Advertisements
    • 931 13 Gourde *7a Proudly Presented by is: A CELEBRATION OF JAPANESE CULTURE FINE CUISINE 28 APRIL 31 MAY 2014 GOURMET JAPAN EVENT LISTING tUiSISiS RISIS PRESENTS AN EVENING SOIREE WITH THE HAKUSHU 29 April I 6.30pm I ME@OUE imi.iui IZAKAYA COCKTAIL DINNER 30 April I 6pm I Izy SOLD OUT HONDA
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  • WORLD
    • 598 14 Pressing criminal charges may cause uncontainable collateral damage Bloomberg [NEW YORK] As US Justice Department prosecutors angle to bring the first criminal charges against global banks since the financial crisis, they’ll have to stare down warnings of uncontainable collateral damage. The 2002 collapse
      Bloomberg  -  598 words
    • 416 14 Bloomberg [DEARBORN, Michigan] Ford Motor Co promoted Mark Fields to chief executive officer from chief operating officer effective July 1 as CEO Alan Mulally retires from the second-largest US carmaker, the company said yesterday in a statement. “From the first day we discussed
      Bloomberg; PHOTOS: AFP  -  416 words
    • 428 14 LATEST US DATA Bloomberg [WASHINGTON] Consumer spending surged in March by the most in almost five years as warmer weather brought shoppers back to auto-dealer lots and malls, a sign the US economy gained momentum heading into the second
      Bloomberg  -  428 words
    • 359 14 Daily deals site now selling razors, vitamins and other consumer goods in bulk Bloomberg [PORTLAND, Oregon] Groupon Inc, the daily deals site that’s already expanding in fashion and South Korea, is now selling razors, vitamins and other consumer goods in bulk in an
      Bloomberg  -  359 words
    • 468 14 Reuters [TOKYO] Sony Corp slashed its earnings guidance for the third time in a year yesterday to barely 10 per cent of its initial outlook as further losses from its PC exit cast a pall over its struggling electronics division. The
      Reuters  -  468 words
    • 900 15 But it offers no new insight into when it will start raising the near-zero rates NYT [WASHINGTON] The US Federal Reserve continued to retreat from its stimulus campaign, saying it was looking past the economic slowdown during an unusually cold winter because
      NYT  -  900 words
    • 668 15 Reu ters [LONDON] The blossoming love affair with indexbased investing and ex-change-traded funds is sweeping aside more traditional investment management with its hefty fee premium, even if it is stoking market volatility. The seemingly contradictory combination of cheaper fees and superior performance is
      Reuters; PHOTO: AFP  -  668 words
    • 540 15 They will need more funds to stay afloat if home prices plummeted: agency Bloomb erg [WASHINGTON] Fannie Mae and Freddie Mac could require an additional bailout of as much as US$190 billion in a severe economic downturn, according to
      Bloomberg; PHOTO: REUTERS  -  540 words
    • 631 15 Bloomberg [CANBERRA] Australia should privatise its rail and postal assets and cut family welfare payments as Prime Minister Tony Abbott seeks to meet election pledges to rein in record public debt, a report ordered by his government advised. Australian Rail Track Corp
      Bloomberg  -  631 words
  • Page 14 Advertisements
    • 20 14 0 WWW o my sg lire •I P A 1 Q >4 Download omy Apps omy News iOSAppStore Google Play
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    • 34 14 CHETTIARS: SINGAPORE’S FIRST ‘VENTURE CAPITALISTS’ TABLA! SPEAKS TO FIVE INDIANS HERE WHO OPEN UP THEIR HOMES TO STRANGERS GET YOUR COPY TODAY FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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  • Page 15 Advertisements
    • 179 15 NOTICES IN THE MATTER OF TETRA PAK EQUIPMENT LOGISTICS ASIA PTE LTD (IN MEMBERS VOLUNTARY LIQUIDATION) COMPANY REGISTRATION NO. *****1442E NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50, that a Final General Meeting of the member of the abovementioned Company will be held at
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  • S SPECIAL LUXURY LIVING
    • Article, Illustration
      1031 16 / 17  -  Let your creativity take flight when you incorporate great design elements in your expansive home By JOSEPH LIM INTERIOR design and getting furniture for a small home is all about space-saving these days. But if you have the luxury of space, the sky is the limit when you
      PHOTOS: HAUS, MARQUIS QSQUARE, MILLION LIGHTING, MINOTTI, SAMSUNG  -  1,031 words
    • 1174 18 / 19  -  Bliss is relaxing on your favourite plush armchair or sofa after a hard day’s work By SHERYL QUEK Stressless Magic Recliners by Ekornes One size does not fit all, and Ekornes knows it well. Its Stressless Magic Recliners (above) are available in three sizes: small,
      PHOTOS: EKORNES, DANOVEL, MERONI FURNITURE, MINOTTI BY MARQUIS INTERIORS, THE BEAR KNOWS, THE FURNITURE CLUB, XZQT HOME  -  1,174 words
    • 972 20 / 21  -  Despite its high price tag, durable and beautiful wood furniture is attracting younger buyers By WONG SHER MAINE SIMPLE and natural that’s the way younger home owners like their wood furniture these days, designed along clean lines, free of paint or veneer and showing off natural wood
      PHOTOS: DANOVEL, MING & QING, TEAK AVENUE  -  972 words
    • Article, Illustration
      817 22  -  The comfort and durability of leather furniture trumps other materials By JOSEPH LIM THE impracticality of leather furniture in Singapore’s humid weather is often a concern, but its positive attributes outweigh the cons. “Leather is synonymous with luxury no one can deny the elegance of a beautiful piece
      PHOTOS: EKORNES, THE BEAR KNOWS  -  817 words
  • Page 16 / 17 Advertisements
    • 33 16 / 17 Elegant yet functional: Giorgetti’s Mould sofa and coffee table by Andrei Munteanu (centre) and the Oro dresser (top, right) featuring leather insert details; B&B Italia’s popular Husk chair (top, left) by Patricia Urquiola
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    • 159 16 / 17 0MISURA NUMERO UNO CREATIVE GROUP i: Award winning One Shenton Sky Suite offers an unparalleled luxurious living experience with a good view of the Marina Bay Sands 2: The Esta- SuMisura’s maiden awardwinning project, Highly Commended Interior Design for Private Residence in Singapore 3: Stellar RV Highly commended for Top
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  • Page 18 / 19 Advertisements
    • 297 18 / 19 Introducing the new TEMPUR® Breeze 1 Comfort and freshness for a great night's sleep lOTEMPUR MATTRESSES AND PILLOWS A fresh new way of sleeping Getting a good night's sleep in Singapore's tropical climate might be a challenge, especially when high humidity levels cause heat and discomfort. TEMPUR high performance sleep
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    • 219 18 / 19 @M£RONI YOUR DREAM HOME COMES TRUE fef>C$ fe>C$ fc>C$ fc> fef> When Design becomes Fine Art r r si! It m PICCASO ARMCHAIRS Unwind and luxuriate on the simply stunning King Armchair. Like its name, this throne-like piece is fit for royalty with its spacious seat. Coming in a lustrous
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    • 207 18 / 19 Made in Norway imagine comfort Imagine a personal oasis of tranquillity where time is your own. A place to lean back, close your eyes and enjoy a well-deserved time-out. But you don’t need to imagine. You can make it real in a Stressless® of your own. Streff/esr) THE INNOVATORS OF
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  • Page 20 / 21 Advertisements
    • 283 20 / 21 where life revolves around the kitchen kitchen culture match, we always provide a perfect solution for your kitchen. exclusive brands poggen pohl Kuppersbusch as The Swiss leoder "rational HSCKer [sUB»2eRo| UJOLF lACORHUE LIEBHERR FJ irinox Foster B= KWC linterliibkel fimes 1 C olliction U*»»Qu«*» BBS a I exclusive showroom 2
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    • 148 20 / 21 THE BEAR KNOWS™ Contemporary European Home Furnishing Carpets from: Turkey, Denmark, Belgium, Germany a V; 7. v V-" ch~ ’’Hwfi K"'' v /;A\ -A .dfTO '3®S5>’ 'J '•V J; mn'Aeiafi^ V.'-v Leather Rugs (genuine cow hide) FREE!!! *V yt i.M > Glass Vase Made in Italy with every purchase of
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    • 137 20 / 21 DANOVEL TM The Handcrafted Fabric Sof OVER 50YEARS OF HANDCRAFTING SOFA EXPERIENCE Danovel Sofas meet British Standards for Durability, BS EN *****-2 BS EN1022. I :i i u --< 3 I CUSTOMISED SOFAS BEDS WALLCOVERINGS FABRIC CURTAINS BLINDS INTERIOR STYLING UPHOLSTERY SOFT FURNISHINGS FOR HOME/OFFICE/MARINE DANOVEL PTE LTD Vietnam HuangHuaLi
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  • Page 22 Advertisements
    • 167 22 XZQX It's Simply Executive! SALE Italian Bed Storewide Discounts VK Contrast Bed BONALDO BONALDOl Practical Space Saving Sofa By Day, Bed By Night Pierrot King Sofa cum Bed LeVele Video Save On Our Sale Prices I Rota 360" tes desiree^ i Lacoon Island Sofa BONALDO tjjjf Babel Bookcase Good Design
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    • 36 22 m o O M i L. !f H ANGLEPOISE AN ICONIC BRITISH BRAND I 1 I 4 MILLIQN Million Lighting Showroom 9 Penang Road, 02-24/26 Parkmall, Singapore *****9 T: (65) 6337 6167 E: showrooms@millionlighting.com 05f*PJi www.millionlighting.com
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  • AVIATION/SHIPPING
    • 458 23 It is cutting sector exposure; BOA, US hedge fund seen as possible buyers Reuters [LONDON] Lloyds Banking Group has reached an agreement to sell US$500 million of shipping loans from its remaining ship finance portfolio as the British bank cuts sector exposure, finance
      Reuters  -  458 words
    • 638 23 Bloomberg [CHICAGO] Boeing Co sees a way to set its new 777X jetliner apart for airlines normally fixated on costs: by making travel easier on a passenger’s nose and throat. Creature comforts such as higher humidity and cabin air pressure to ease jet
      Bloomberg; PHOTO: BLOOMBERG  -  638 words
    • 321 23 Bloomberg [SINGAPORE] Billionaire Elon Musk’s Space Exploration Technologies Corp won a court order temporarily blocking the US Air Force from buying Russian-made rocket engines from a Boeing Co-Lockheed Martin Corp venture. Judge Susan Braden’s preliminary injunction doesn’t cover earlier purchases or payments.
      Bloomberg  -  321 words
    • 384 23 Reuters [COPENHAGEN] Container shipping lines have agreed to raise Asia-US freight rates by US$300 per 40-foot container (FEU) to west coast ports of the US and by US$400 to all other ports in the US from May 15. The increase was agreed by
      Reuters  -  384 words
    • 259 23 SGX '000 Apr 30 S$ +/-Vol Ch Offshore 0.42 0.01 200 Chuan Hup Hldg 0.27 unch 238 Cosco Corp 0.72 0.01 921 Cwt Limited 1.46 -0.04 577 Ezra Hldgs 1.05 -0.01 2152 First Ship Lea 0.10 unch 902 Grand Banks Chuan Hup Hldg Jaya Hold Ltd 0.80 0.01
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    • 308 23 AFP [ROME] The mammoth project to refloat the doomed Costa Concordia cruise ship has been suspended until a decision is made over which port will scrap the wreck, Italian media said on Wednesday. The ship’s owner Costa has decided temporarily to halt the unprecedented
      AFP  -  308 words
    • 446 23 Philadelphia International Airport is most affected Bloomberg [BOSTON] Heavy rain and air traffic delays spread across the US East Coast from a storm that lashed the South and Midwest with tornadoes and flooding. New York City, under a flood watch
      Bloomberg  -  446 words
  • Page 23 Advertisements

  • EDITORIAL & OPINION
    • 511 24 EDITORIAL IN his May Day Rally speech yesterday, Prime Minister Lee Hsien Loong urged Singaporeans to continue working beyond the age of 65 and also supported ongoing tripartite talks on extending the re-employment age. Particularly in a labour-tight economy, there is certainly merit
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    • 790 24  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 CHINA released a report in mid-April which disclosed that 16.1 per cent of the country’s soil and nearly one-fifth of its arable land were
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    • 1441 24  -  He stresses that the US has achieved its goals in Syria without using military power LEON HADAR Washington Correspondent SINCE US President Barack Obama decided to cancel a threatened missile strike against Syria and to accept instead a deal with Russia to remove
      PHOTO: AFP  -  1,441 words
    • 903 25  -  Tapping the region’s vast pools of savings via a more active retail bond market would benefit bond issuers and savers By MATTHEW COLEBROOK The writer is head, retail banking and wealth management, at HSBC Singapore Developing efficient bond markets across Asia is crucial to
      PHOTO: REUTERS  -  903 words
    • 996 25  -  By SHU-CHING JEAN CHEN THE point of contention in the controversial China-Taiwan service trade agreement that prompted mass protests in Taiwan and the closure of its parliament has come down to small mom-and-pop shops that employ most of the island’s workforce, who
      PHOTO: AFP  -  996 words
    • 576 25  -  By RADOSAW SIKORSKI The writer is Poland’s Minister for Foreign Affairs. The 10th anniversary of Poland’s EU accession fell on May 1 WHEN Poland’s prime minister and top diplomat signed the European Union accession treaty, little could
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  • PROPERTY
    • 878 26 US$350m Beekman Hotel will have 287 rooms and a condo tower next door NYT [NEW YORK] For years, development plans came and went at 5 Beekman St like City Hall workers filing in and out of their nearby offices in
      NYT; PHOTO: REUTERS  -  878 words
    • 445 26  -  By MALMINDERJIT SINGH msingh@sph.com.sg @MalminderjitBT [SINGAPORE] Commonwealth Towers, Hong Leong Holdings’ high-rise condominium project, took off on its first day of sales yesterday. As at 8pm yesterday, out of the 300 units initially launched, 175 units had been snapped up, with more
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  • Page 26 Advertisements
    • 533 26 Call Toll-free 1800-289-9988 To Place Your Classified Advertisements D04 HOUSE FOR SALE SENTOSA Bungalow Sentosa 3½-Storey 8159 sqft,6+1 ensuite, 2 living, Pool, Lift, Berth. Also for rent. Owner 9144 0027/ 9771 6341 D10 HOUSE FOR SALE DALVEY ROAD Tropical GCB *****/ ***** sqft. 6 bdrms, large pool, entertainment area, garage,
      533 words
    • 121 26 D14 APARTMENT FOR SALE THE MIDAS New Listing! The Midas. 2 units Penthouse, 3rm 4rm, double storey, 1593/ 2109 sqft. $1.39m $1.84m. Call Gary Ong 9191 9500 D16 APARTMENT FOR SALE BAYSHORE Serious Seller! $1050 psf. Penthouse 3800 sqft. Vacant. Facing Sea. Beautiful Renovation. Belinda 9820 5400 D19 APARTMENT FOR
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  • Page 27 Advertisements
    • 1121 27 HOUSES FOR SALE D09 DIO DIO Holland Park 2 Sty GCB, 2 Houses Approx. *****/***** sqft, D11 Olive Road 2 Sty GCB Approx. *****/***** sqft D23 Jalan Remaja 3 Sty Semi-D, Best Value! Approx. 3310/ 4200 sqft 4+1+1 rm, Quiet D21 Pisang Emas 3.5 Sty Semi-D, 2 units Approx. 2160/
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    • 110 27 D01 OFFICE FOR RENT AFRO ASIA BUILDING 63 Robinson Rd 200-***** sf. Offer rate fr $4.80 psf. 1 min walk to Han’s/ Kopitiam/ other eateries. 10 mins walk to Raffles Place MRT. 9424 1207 D02 SHOP FOR RENT 49 51 CANTONMENT ROAD 1 pair Conservation Shophse. 3½ storey, floor area
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  • 2240 28 Papua New Guinea Australia New Zealand New Caledonia Fiji all other Pacific Islands Dili (East Timor) Guam (Mariana Islands) Honolulu (Hawaii) SOUTH PACIFIC SERVICE W W W. N G P L J S P. C O M THE CHINA NAVIGATION CO. PTE. LTD. 300 BEACH ROAD #02-02 THE
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  • Page 28 Advertisements
    • 39 28 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times Shipping times FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times? The Business Times Shpping Dues
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  • Page 29 Advertisements
    • 209 29 mporters coking for Warehouse Can they find your services here in the Shipping Times? ii TO ADVERTISE, CALL JOE WONG AT *****327 FREIGHT FORWARDER urgently needed by shippers TO ADVERTISE, CALL JOE WONG AT 9620 1327 Can they find your services here in the Shipping Times? The Business Times I
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    • 18 29 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times Shipping Times
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  • FINANCE & COMMODITIES
    • 571 30 May 1 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.09 *****.03 *****.09 Jun14 *****.00 *****.00 *****.00 *****.00 ***** *****8 Sep14 *****.00 3 8659 MSCI TAIWAN INDEX FUTURES SPOT 317.23 317.38 313.54 May14 314.10 314.80 313.70 ***** *****2 Jun14 313.60 313.80 313.60 107 86
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    • 373 30 In local curr In S$ In US$ dy yr dy yr dy yr Apr 30 Index Change Change Change Change Change Change World Preliminary 1195.1 0.0 0.9 0.1 0.9 0.1 1.4 EAFE Preliminary 951.5 0.0 -0.5 0.3 0.5 0.3 1.1 Europe Preliminary 1389.2 0.0 2.5
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    • 471 30 Apr 30 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.017 5.812 0.673 7.199 56.067 107.381 0.952 9.592 3.032 1.085 91.388 41.393 1.166 9.792 0.821 28.087 30.032 0.552 0.929 Canada 0.983 5.715
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    • 30 30 Apr 30 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) (S$) 1 mth Source: Thomson Reuters
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    • 80 30 Apr 30 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 1-Year BY*****S 02-May-15 0.35 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0W 1.13 01-Apr-16 101.3 101.35 101.34 5-Year NX*****W 2.5 01-Jun-19 105.11 105.17 105.10 10-Year NX*****H 2.750 01-Jul-23
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    • 137 30 Apr 30 GOLD(US$/oz) Apr 30 Apr 29 Hong Kong 1292.00 1296.00 Apr 30 Apr 29 London 1293.36 1298.95 1294.05 1299.75 Source: Thomson Reuters CAST BAR Apr 30 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 79 50 5gm 313 258 10gm 582 518
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    • 57 30 Apr 30 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 14 2719.0 2691.0 2722.0 2658.0 987 3559 Jun 14 2650.0 2640.0 2660.0 2631.0 4040 ***** Jul 14 2631.0 2623.0 2647.0 2615.0 ***** ***** Aug 14 2628.0 2616.0
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    • 155 30 Apr 30 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1656 1.1666 0.9284 0.9286 Canadian dollar 1.1461 1.1474 0.9133 0.9128 Euro 1.7332 1.7346 1.3805 1.3807 NZ dollar 1.0746 1.0756 0.8559 0.8562 Sterling pound 2.1105 2.1121 1.6810 1.6812
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    • 109 30 Apr 30 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low May 14 1530.75 1524.00 1532.00 1516.00 Jul 14 1512.75 1517.25 1517.75 1502.25 Aug 14 1440.75 1443.00 1446.25 1433.25 Sep 14 1310.25 1313.00 1314.75 1302.50 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low May 14
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    • 94 30 Apr 30 COCOA (£/tonne) Close Prev High Low May 14 1835 1831 1849 1824 Jul 14 1848 1841 1867 1835 Sep 14 1850 1844 1869 1839 Dec 14 1847 1840 1862 1833 COFFEE(US$/tonne) Close Prev High Low May 14 2167 2130 2171 2144 Jul14 2168 2139 2189 2151 Sep
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    • 1178 30 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 Conv Asia-Pacific Strategic W*****6 Exer Acma Ltd W*****7 Prem Disc Asiatic Grp(Hldgs) Ltd W*****5 2.2 0.1 282 0.0 2 17 Asiatravel.com HoldingsW*****7 2.6 1 25 3 Asiatravel.com HoldingsW*****5
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    • 70 30 CRUDE OIL PRODUCTS Apr 30 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 107.78 -1.55 WTI (Near Mth) 99.78 -1.30 Dubai (1-Mth F) 104.59 -0.32 Tapis blend 112.49 -0.20 Minas 110.69 -0.70 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 104.61 -0.39 Jet Kerosene 120.34 -0.44 US$/barrel OpecOil Basket
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    • 23 30 Apr 30 Apr s$ Bid Offer 1-month 1.2555 1.2563 2-months 1.2555 1.2563 3-months 1.2555 1.2563 6-months 1.2553 1.2562 Source: OCBC
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    • 65 30 Apr-30 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1756.25 1771.00 3 months 1800.00 1813.00 Copper, Grade A(US$/tonne) Cash 6659.50 6731.00 3 months 6642.00 6715.00 Lead(US$/tonne) Cash 2081.25 2085.25 3 months 2106.00 2110.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months *****.00
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    • 121 30 As at 9am Apr 30 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.190 1.134 Can dollar 1.168 1.124 Euro 1.775 1.691 Sterling pound 2.152 2.070 NZ dollar 1.099 1.057 US dollar 1.282 1.221 Local dollars to 100 units of foreign
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    • 157 30 Apr 30 $S Offer Bid 0vernight 0.08 0.03 1-month 3/8 1/4 2-months 3/8 1/4 3-months 7/16 5/16 Overnight mode: 0.16 US$ Offer Bid 7 days 0.20 0.10 1 month 0.25 0.15 2 months 0.30 0.20 3 months 0.40 0.20 6 months 0.50 0.30 9 months 0.60 0.40 12
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  • executive lifestyle
    • 1001 31  -  Guggenheim UBS’s new collection of Asian works is a small step for the museum, and a giant leap for Asian art, reportsHELMI HELMI YUSOF helmi@sph.com.sg FOR seven decades, the Guggenheim Museum in New York has been a temple for art lovers. But in its vast collection of
      PHOTOS: SOLOMON R. GUGGENHEIM MUSEUM, NEW YORK GUGGENHEIM UBS MAP PURCHASE FUND  -  1,001 words
    • 728 31 Navin Rawanchaikul (Thailand) Places of Rebirth, 2009; acrylic on canvas, 220cm x 720 cm Navin Rawanchaikul is a born-and-bred Thai, but his surname was originally Rawal a North Indian name. During the violent 1947 partition of South Asia, his family was forced to seek refuge in
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    • CINEMA/MUSIC
      • 599 32  -  The obligatory checklist of campy repartee and 3D pyrotechnics needs an update, writes DYLAN TAN writes DYLAN TAN SIZE matters, unfortunately, when it comes to superhero flicks. Ever since Marvel spoilt the market by lining up an ensemble for The Avengers (2012), one
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      • 531 32  -  By DYLAN TAN dylantan@sph.com.sg @DylanTanSYBT BEFORE Glee, there was Grease, a high-school musical that many of us born on the other side of the new millennium (minus a decade or two, let’s not be picky) grew up with. Set in the late 1950s to
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      • 530 32  -  By DYLAN TAN By dylantan@sph.com.sg @DylanTanSYBT IMAGINE going for dinner and the waiter forgetting your main course that's probably how mov-ie-goers might feel when they sit through Blue is the Warmest Colour, the controversial French coming-of-age drama that had its much talked-about lesbian sex scenes
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      • 533 32  -  By DYLAN TAN dylantan@sph.com.sg @DylanTanSYBT NOT too long ago in a country far far away, Star Wars fans decided to celebrate everything they liked about the landmark George Lucas sci-fi film series on the fourth day of May every year. Also known
        PHOTO: JOHN HENG  -  533 words
    • ARTS
      • 1610 33  -  From sparse exhibitions and a lack of appreciation for prints to a successful ambitious 20 book project by 20 local photographers, the photography scene in Singapore has seen a boom in the last few years, but it still has a long way still to go, reports RACHEL
        PHOTOS: DARREN SOH, SARAH CHOO JING; PHOTOS: 2902 GALLERY, SIPF  -  1,610 words
      • 342 33 Upcoming photography events to check out: Platform The launch of the seventh book in the TwentyFifteen series A Little Big of Me from Everything Else by Matthew Teo is on at 7.30pm on May 6 at the National Museum of Singapore. Log on to http://twentyfifteen.sg for
        PHOTO: OBJECTIFS  -  342 words
      • 744 34  -  The popular 1980s TV series Yes, Prime Minister moves from small screen to the big stage with more capers in the age of Twitter, writes CHEAH UI-HOON writesCHEAH writesCHEAH UI-HOON uihoon@sph.com.sg TIMES may change but government and governance remain pretty much the same. So thinks Robin
        PHOTO: ALEX RUMFORD  -  744 words
      • 832 34  -  By CHEAH UI-HOON uihoon@sph.com.sg FOR many Singaporeans under the age of 40, the Little India riots would have been their first brush even if seen through the lenses of social media and viral news with disorder and chaos on home ground. Singapore’s colourful
        PHOTO: DRAMA BOX  -  832 words
      • 815 34  -  By CHEAH UI-HOON uihoon@sph.com.sg ON one wall, it is about capturing time in dripping paint. On the other, it is about capturing the electromagnetic pulses of dying stars which, in their last moments, become visible to the human eye. At first glance though, what you see
        PHOTO: FAREEZ AHMAD  -  815 words
      • 467 34  -  By RACHEL LOI rachloi@sph.com.sg DO you “Like!” musicals? Or more specifically, did you “Like!” any of local theatre company Toy Factory Productions’ original musicals from the last 24 years? If your answer is “yes” to the above, then you might be glad to hear about Toy Factory’s
        PHOTO: TOY FACTORY  -  467 words
    • PURSUITS
      • 1588 35  -  New Yorker cartoonist Roz Chast chronicles her late parents’ decline in her new graphic novel, Can’t We Talk About Something More Pleasant? By SARAH LYALL RIDGEFIELD NYT BY way of introducing her parents, Roz Chast opened her closet door and rummaged through some stuff on
        NYT; PHOTO: NYT  -  1,588 words
      • 371 35  -  By ADRIAN CHEONG IT was art and fashion at its best at the glamorous ICON Ball on Tuesday, when 300 of Singapore’s social and business who’s who gathered at this annual high society event. Held at the Shangri-La Hotel, guests were dressed according to
        371 words
      • 437 35  -  By GEORGINE VERANO gverano@sph.com.sg PREPARE to drink up when the sixth Beerfest Asia returns for its biggest edition to date this year. Festivalgoers and beer afficionados can look forward to up to 400 different types of products, including ciders, whiskies and wines, says Low
        PHOTO: BEERFEST ASIA  -  437 words
      • Around Town
        • 189 35 >Christie’s Hong Kong Spring Auctions: Christie’s annual Hong Kong Spring Auctions are back. The Singapore preview of the event will include 20th-century and contemporary art, paintings as well as jewellery and watches. This year’s preview will also include Christie’s Art Forum, a new addition for educational
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        • 243 35 Explosion of Colours, by Justin Y: in Explosion of Colours, self-taught Hong Kong-based painter Justin Y explores the vibrant world of flora and fauna through the paintings of his solo exhibition. Using only his fingers and media that he can mould with his hands, this exhibition is inspired by
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        • Article, Illustration
          314 35  -  Compiled by Georgine Verano gverano@sph.com.sg Shakespeare in the Park The Mer- chant of Venice: The Shakespeare in the Park series is back, this time with a lighter story than last year’s Othello. Presented by the Singapore Repertory Theatre, The Merchant of Venice is the latest play in the highly
          PHOTO: JUSTIN Y  -  314 words
    • WINE
      • 1176 36  -  Tasting the Vieux Chateau Certan 2007 in 2008 and savouring it now reveals how time transforms vinous taste profiles, writes NK YONG writes NK YONG I EXPECT that most of us are familiar with Hans Christian Anderson’s tale, The Ugly Duckling in
        PHOTO: AFP  -  1,176 words
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  • Page 33 Miscellaneous
    • 357 33 CRYPTIC CROSSWORD Across 1 Bit of material in old paper probed by female copper (6) 5 Helpless person made lax when coming into fortune (4,4) 9 March around end of town is featured in West End show song (2,3,5) 10 Company doctor providing something for nit inspection? (4) 11 Ray
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  • Page 36 Advertisements
    • 132 36 Concentrated watercolors, water-based acrylics, and water A i I V Everywhere is Arf Simply look a little deeper That is what artists do. They look beyond the expected, often finding inspiration in surprising places. At UBS, we apply a similar kind of attitude to everything we do. It is through
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