The Business Times, 22 May 2014

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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 SCCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Thursday, May 22, 2014
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  • Article, Illustration
    Lock icon Sweeping changes to public bus sector
    1380 1  -  Move seen as addressing fundamental issues plaguing the system E)’ NISHA RAMCHANDANI nishar@sph.com.sg @Nisha_BT [SINGAPORE] The Land Transport Authority (LTA) yesterday announced sweeping changes to the public bus industry, in a move seen as addressing fundamental issues plaguing the system. In a shake-up that
    Source: Ministry of Transport; BT Graphic: Ven Sreenivasan, Nisha Ramchandani, Simon Ang & Ludwig Ilio  -  1,380 words
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      138 1 PROPERTY JTC launches ‘future-ready’ industrial facility PAGE 29 COMPANIES UOB still ahead of its S’pore peers PAGE 4 COE Small-car premium rebounds PAGE 9 BONDS S’pore investors snap up issues by China firms PAGE 8 INSIDE New model positive for SBS Transit, SMRT, Page 2 COMMENTARY: Bus sector revamp: better
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      4 1 MARKETS DIGEST, PAGE 3
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  • TOP STORIES
    • Article, Illustration
      Lock icon New model positive for SBS Transit, SMRT
      770 2  -  Analysts say without bus operating losses, asset-light incumbents will be strong even with new competition BUS TRANSPORT REVAMP By SAMUEL EE By samuelee@sph.com.sg [SINGAPORE] The new government contracting model for public buses is expected to be positive for both SBS Transit and SMRT,
      Source: LTA, SBS and SMRT; BT Graphics: Raphael Lim, Jaira Koh and Simon Ang  -  770 words
    • Article, Illustration
      Lock icon Bus sector revamp: better late than never?
      947 2  -  COMMENTARY By SAMUEL EE samuelee@sph.com.sg NOW that the government is finally stepping in to lend a hand in public bus operations, many long-suffering commuters are likely to say “it’s about time”. After repeatedly refusing to run buses itself even as it acknowledged that
      FILE PHOTO  -  947 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      372 2 Sweeping changes to public bus sector THE LTA announced sweeping changes to the public bus industry, in a move seen at addressing fundamental issues plaguing the system. FRONT PAGE Competitiveness: S’pore at top again SINGAPORE has reclaimed the No 1 spot in Asia for overall competitiveness, inching past
      372 words
    • Article
      Lock icon Singapore reclaims top Asia ranking in competitiveness
      572 3  -  It overtakes HK after 3 years; globally, it climbs two rungs to 3rd spot, after the US and Switzerland By JACQUELYN CHEOK jaccheok@sph.com.sg @JacCheokBT [SINGAPORE] The Republic has reclaimed the No 1 spot in Asia for overall competitiveness, inching past former titleholder Hong
      572 words
    • Article
      Lock icon Singapore to tap new technologies for ‘smart’ living
      421 3  -  By LEE U-WEN leeuwen@sph.com.sg @LeeUwenBT [SINGAPORE] Life in Singapore down the road, when it is fully fledged as a “smart nation”, will entail the use of new technologies such as driverless vehicles and fibre networks. The people will also tap the potential
      421 words
    • MARKETS DIGEST
      • Article
        Lock icon FOREX
        64 3 HST INDEX 3,261.78 (-3.69) HST INDEX FUTURES 3,262.00 (-4.00) GSIMSCI371.67 (+0.02) HSIMSCI FUTURES 371.50 (-0.10) US$ S$ US$ (S$ per US$) 1.253 (US$/S$ per 1.688 2.115 EURO (US$/S$/€ 1.371 1.718 Foreign currency per US$ S$ YEN 100.90 80.60 RM 3.217 2.568 HK$ 7.753 6.189 BAHT 32.47 25.92 RUPIAH 11,510
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      • Article
        Lock icon MARKETS
        48 3 Wednesday Change KL COMP 1,877.03 -4.13 NIKKEI 225 14,042.17 -33.08 HANG SENG 22,836.52 +1.84 SET INDEX 1,402.92 +8.23 JAKARTA COMP 4,910.29 +14.34 MANILA COMP 6,762.38 -120.35 SEOUL COMP 2,008.33 -2.93 SHENZHEN B 810.37 +1.19 MUMBAI IND 24,298.02 -78.86 12noon EDT Change DOW 16,487.43 +113.12 NASDAQ 4,109.39 +12.50
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      • Article
        Lock icon PRIME RATES
        22 3 SINGAPORE 5.35 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 15.208 TAIWAN 5.036 JAPAN CANADA KOREA SWITZERLAND BRITAIN INDIA US Source: Bloomberg
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      49 3 f V/ m\ SF 'A rosea? jg$ 3lP«Sa s w v 2/1*, j W //fM nw -Jf 7 r m s ft. > A Bftfl v us la /a ar F I 5r PBADwm t ili m H 2 I I --.al s' S. Dane DeHaan ew York, November 2013
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon UOB stock ahead of peers despite Thai exposure
      822 4  -  Year to date, UOB is up nearly 6% while DBS and OCBC are down 0.5% and 5% By SIOW LI SEN lisen@sph.com.sg DESPITE a near one per cent pullback in its share price yesterday, United Overseas Bank is still ahead of its
      PHOTO: REUTERS  -  822 words
    • Article
      Lock icon TA Corp-led group wins deal to build workers’ accommodation
      366 4  -  By LYNETTE KHOO lynkhoo@sph.com.sg @LynetteKhooBT A CONSORTIUM comprising TA Corporation, King Wan Corporation and SKM Development has bagged the right to develop a hotly contested site into workers’ accommodation, with a bid of $113.9 million. It was a nine-cornered fight for
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    • Article
      Lock icon Moody’s cuts China property outlook
      720 4  -  By LYNETTE KHOO lynkhoo@sph.com.sg @LynetteKhooBT AGAINST a backdrop of Chinese developers turning to Singapore to raise funds through bonds, Moody’s has revised its outlook for China’s property industry to “negative” from “stable”. The revised outlook reflects the credit rating agency’s expectations for the fundamental business
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    • Article, Illustration
      Lock icon ThaiBev sees continuing growth
      497 4  -  CEO does not expect martial law to have significant impact By KENNETH LIM kenlim@sph.com.sg @KennethLimBT DRINKS maker Thai Beverage Public Co expects to continue the momentum of its first-quarter growth despite current political events in Thailand, chief executive Thapana Sirivadhanabhakdi said yesterday. A strategic review of
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    • Article, Illustration
      Lock icon Yoma posts 45% drop in earnings for final quarter
      712 7  -  Revenue climbs 34%; firm reports record 16.4m profit for full fiscal year By ANITA GABRIEL anitag@sph.com.sg @AnitaGabrielBT MYANMAR-CENTRIC firm Yoma Strategic Holdings posted a 45 per cent drop in net profit to $6.4 million for the January-March final quarter on the
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    • Article
      Lock icon Sembcorp Marine wins US$236m deal
      405 7  -  It’ll build a jack-up rig for new client Hercules North Sea By MALMINDERJIT SINGH By msingh@sph.com.sg@MalminderjitBT SEMBCORP Marine’s subsidiary Jurong Shipyard has secured a US$236 million contract to build a jackup rig for its new customer Hercules North Sea. The rig, scheduled for delivery in
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    • COMPANY BRIEFS
      • Article
        Lock icon CapitaLand’s stake in CMA crosses 80% after lifting offer price
        66 7 CAPITALAND said yesterday that its stake in CapitaMalls Asia (CMA) had crossed 80 per cent on Tuesday, after it raised its offer price to $2.35 from $2.22. The stake “is now approximately 81.3 per cent after taking into account the
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      • Article
        Lock icon Ezra wins new contracts worth US$95m
        75 7 EZRA Holdings yesterday announced new contract awards totalling more than US$95 million (including options) across its subsea services and offshore support services divisions. These awards include subsea work for one of the world’s longest cable lay jobs at 160 kilometres. With these wins, the
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      • Article
        Lock icon Lian Beng secures $44.5m dormitory project
        47 7 LIAN Beng Group’s construction subsidiary has secured a $44.5 million contract from Westlite Dormitory (V one) to build a block of 13-storey independent workers’ dormitory at Woodlands Avenue 10. The project begins this month and will take 12.5 months to complete.
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      • Article
        Lock icon KrisEnergy unit acquires oil block in Gulf of Thailand
        109 7 KRISENERGY’S wholly-owned unit has agreed with Mubadala Petroleum to buy the entire interest in MP G10 (Thailand) for US$102.5 million. MG G10 holds a 75 per cent working interest and operatorship of the G10/48 licence in the Gulf of Thailand. Kris
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      • Article
        Lock icon Religare’s full-year DPU better than projected
        102 7 RELIGARE Health Trust saw a 51 per cent rise in net profit to $11.22 million for the fourth quarter ended March 2014 compared with $7.4 million a year ago. Revenue at $27.2 million was almost flat against $27.7 million a year ago. The slight
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    • Article, Illustration
      Lock icon Locals go for bonds issued by China firms
      785 8  -  Issuers include Yanlord Land, Far East Horizon, Central China Real Estate By SIOW LI SEN lisen@sph.com.sg RICH local investors, in search of alternatives, are snapping up bonds issued by Chinese companies, including those sold by property developers. A $400 million, threeyear 6.2
      785 words
    • Article
      Lock icon SSC full-year profit up 25.7% at US$8.6m
      222 8  -  By MALMINDERJIT SINGH msingh@sph.com.sg @MalminderjitBT SINGAPORE Shipping Corporation’s full-year net profit rose 25.7 per cent to US$8.6 million from US$6.8 million a year earlier. Revenue for the 12 months ended March 31 rose 73 per cent to US$34.4 million from US$19.9 mil- lion.
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    • Article, Illustration
      Lock icon Shell meets target of 25% women directors
      476 8  -  By ronnie@sph.com.sg RONNIE LIM ronnie@sph.com.sg FORMER StanChart Singapore CEO Euleen Goh and chairman, CEO and president of US-based Archer Daniels Midland Company, Patricia Woertz, were unanimously voted in as new Royal Dutch Shell directors earlier this week, bringing the total number of women
      476 words
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      Lock icon Page 4 Advertisements Column 1
      43 4 1 See adrcmced fl PRINTING TECHNOLOGIES AND PRODUCTS! o o 16 18 July 2014 Marina Bay Sands, Singapore Sands Expo and Convention Center Level 1, Hall A B r Register at www.OfficExpoAsia.com/visit Organised By BIZLINK Exhibition Services Pte Ltd A SUBSIDIARY OF Sfh
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      59 4 HOT PROPERTY I? BLUE HOR/ZON condo 3+^ Pool View. No West Son' jmmed. Full Facilities Sun2207rt R 2-iev^ T p SE 4 RM $5800. M High T C Se C a° N 3 bd lenities. IaskT APARTMENT FOR RENT Check this and many other properties in The Straits Times Classified
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      185 5 im BENTLEY a c* SmJZA m m m m m V BENTLEY YEARS YEARS W/&bANTY j MAINTENANCE Your powerful dream. Realise it with a 4.0L V8 engine. The New Flying Spur V8. Everything you expect From a Bentley, and more, now materialises in the all-new Bentley Flying Spur V8. Set
      185 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon Shares continue to drift in thin volume
      691 6  -  Session lacking in real excitement, no thanks to overseas markets sending the wrong vibes STOCKS R SIVANITHY sivan@sph.com.sg @RSivanithyBT Senior Correspondent AN overnight decline on Wall Street, a listless day in Hong Kong and a soft opening for Europe made for a drab
      Source: Bloomberg  -  691 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 6 May 21 VALUE CLOSE BT OB/OS -142.00 -51.00 BT CADI -*****.00 -2.00 BT 10-day MA -*****.00 -14.00 FTSE ST Mid Cap 767.65 +2.24 FTSE ST Small Cap 542.27 +0.91 FTSE ST All Share 794.16 -0.19 FTSE ST China Top 201.03 +0.92 FTSE ST China 230.51 -0.21 FTSE
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    • Article
      Lock icon MOST ACTIVE STOCKS
      61 6 VOLUME HanKore Env 43,468,000 Amplefield 39,506,000 KLW Hldgs 38,922,000 Gallant Venture 38,438,000 RH PetroGas 38,278,000 LCD Global Inv 23,139,000 China Fibretech 21,952,000 JES Intl 20,223,000 Noble 18,513,000 Rex Intl 18,366,000 VALUE($) SingTel 59,833,791 DBS Grp 54,149,590 RH PetroGas 31,172,100 Olam Intl 29,703,610 Wilmar Intl 29,270,790 Keppel Corp
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 6 3 0 0 0 6 6 3 Manufacturing 43 48 38 4 8 8 47 56 46 Commerce 19 11 23 1 7 2 20 18 25 Tpt/Stor/Comms 13 16 11
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    • Article, Illustration
      Lock icon BROKERS’ TAKE
      973 6  -  Compiled by KENNETH LIM Elektromotive Group May 21 close: S$0.012 Voyage Research, May 21 FOLLOWING our industry report on the UK electric vehicle industry, we cast our spotlight on Elektromotive Group. The company is one of the leading electric vehicles charging equipment (EVCE) companies in Europe, with more
      Source: Bloomberg  -  973 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      122 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 67,998 67,998 71,749 71,749 Manufacturing 273,536 74,813 348,349 145,443 8,430 153,873 Commerce 64,517 31,300 95,817 94,907 2,892 97,799 Tpt/Stor/Comms 110,875 5,281 116,156 175,126 696 175,822 Finance 16,714 634 17,348 111,863 182 112,045 Construction 26,342 39,801
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    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      118 6 Stock name Close Change CapitaLand 3.140 +0.020 CapitaMall Trust 2.040 +0.010 CapitaMalls Asia 2.350 CityDev 10.34 +0.020 ComfortDelGro 2.300 -0.080 DBS Grp 17.00 +0.160 Genting Sing 1.330 -0.010 Global Logistic 2.800 -0.040 Golden Agri-Res 0.570 HPH Trust USD 0.710 HongkongLand USD 7.010 +0.020 JMH 400 USD
      118 words
    • Article, Illustration
      Lock icon Yen at 3 ½-month high on Kuroda’s comments
      520 6 CURRENCIES Reuters [LONDON] The yen rose to a 3½-month high against a struggling US dollar and euro yesterday, buoyed by optimistic comments from Bank of Japan chief Haruhiko Kuroda which gave no hint of further monetary easing in the near term. The
      Reuters; PHOTO: BLOOMBERG  -  520 words
    • Article
      Lock icon RISES
      116 6 BY CENTS CLOSE UP DBXT EONIA 5US$ ***** 98.9 0.4 Lyxor Indonesia10US$ 9086 76.4 0.7 GLD 10US$ ***** 37.6 0.2 Great Eastern 2077 31.0 1.5 DBXT FTChina25 10US$ 2819 27.6 0.8 DBXT USDIGInfl 5US$ ***** 26.3 0.1 Jardine C&C 4500 26.0 0.6 DBXT iBoxxUSTr 5US$ ***** 20.0 0.1 Hyflux
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    • Article
      Lock icon FALLS
      128 6 BY CENTS CLOSE DOWN DBXT AUDCS 5US$ ***** -156.6 -0.6 SPDR DJIA 10US$ ***** -126.5 -0.6 SPDRS S&P 500 10US$ ***** -102.7 -0.4 DBXT AUDCS 5SG$ ***** -102.0 -0.4 DBXT iBoxxKR 5US$ ***** -77.7 -0.4 JMH 400 USD 5959 -76.4 -1.0 DBXT Nifty 10US$ ***** -47.6 -0.3 DBXT iBoxxSvEu
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    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 6 DAILY
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      306 7 Enjoy foreign currency time deposit rates as high as -j > j-7% p.a.* 96**. to r;* V^bO 60 60 TV V=^v SOtTT 60 00 IE bO 50 *3 I »r bo 50 50 T 50 50 50 OK 50 T 50 M rr 60 ‘•C* r 50 t jO 50
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  • SINGAPORE NEWS
    • Article
      Lock icon Small-car COE premium rebounds
      355 9  -  Earlier fall heated up demand with virtually all distributors reporting strong orders By SAMUEL EE samuelee@sph.com.sg AS EXPECTED, the small-car premium rose in yesterday’s certificate of entitlement (COE) bidding exercise, two weeks after it fell significantly and triggered a rush to showrooms everywhere. Category A car
      355 words
    • Article, Illustration
      Lock icon BT Dream Ball: A night of graceful giving
      508 9  -  Ballroom champions will take to the dance floor By KELLY TAY kellytay@sph.com.sg @KellyTayBT THE world’s top ball-room-dancing couple is coming to Singapore, and you are invited to share the dance floor with them on Aug 1. Reigning international ballroom champions Arunas Bizokas
      508 words
    • Article
      Lock icon Trip the light fantastic at BT’s Dream Ball
      136 9 THE Business Times Dream Ball will be held at the Roselle Ballroom of the Sands Expo Convention Centre, on Aug 1. Event participants will enjoy a four-course Western dinner with wine, and have a twirl on the dance floor after. Proceeds will
      136 words
    • Article
      Lock icon Marina Bay Sands repeats three-day charity event
      415 9  -  Sands for Singapore Festival runs over Aug 1-3 weekend By LEE U-WEN leeuwen@sph.com.sg @LeeUwenBT MARINA Bay Sands (MBS) is bringing back its three-day charity event this August, and the integrated resort hopes to exceed the $3.6 million that it managed to raise for
      415 words
    • Article
      Lock icon Expat hiring cost: Singapore sixth in Asia
      499 9  -  Japan most expensive among 15 economies in ECA’s expat pay survey BY CHERYL TAN tansyc@sph.com.sg AN expatriate middle manager will cost US$257,000 a year to hire here, making Singapore the sixth most expensive location in Asia to hire such foreigners. Only in Japan
      499 words
    • Article
      Lock icon Unlicensed estate agent charged by CEA
      363 9  -  By RAPHAEL LIM raphlim@sph.com.sg THE chief executive officer of Azea Personal Coaching (APC), which organises property investment seminars for the public, has been charged by the Council for Estate Agencies (CEA) for allegedly acting as an estate agent without being licensed. Five charges were
      363 words
    • Article, Illustration
      Lock icon Chewing into Japanese style quality control
      772 10  -  Food made by RE&S undergoes lab tests for consistency and hygiene By JAIRA KOH jairakoh@sph.com.sg CHEWINESS may be an unusual metric, but measuring it is just another step in the exacting quality control system that Japanese food group RE&S employs. At RE&S, taste tests
      PHOTO: YEN MENG JIIN  -  772 words
    • Article
      Lock icon NUS, SIMTech ink R&D collaboration
      365 10  -  Collaboration will see joint labs set up to boost R&D in manufacturing By KARA QUEK karaquek@sph.com.sg A FIVE-YEAR collaboration agreement between the National University of Singapore (NUS) and the Agency for Science, Technology and Research (A*Star) was inked yesterday. The collaboration will boost research and
      365 words
  • Page 9 Advertisements
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      Lock icon Page 9 Advertisements Column 1
      213 9 RELIG ARE I TRUST H Values that bind Religare Health Trust (Registration Number *****06) (a business trust registered under the Business Trusts Act. Chapter 31A of Singapore) Notice of Books Closure Date Payment Date for Distribution for the Period from 1 October 2013 to 31 March 2014. Notice is hereby
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      180 9 o end once Supply Chain Training Centre Professional Qualifications in Procurement Supply Awarded by The Chartered Institute of Purchasing and Supply, UK. I« >1 um EMPOWER YOUR LEARNING rr Diploma in Procurement and Supply The CIPS Diploma in Procurement and Supply is the most recognized professional qualification in purchasing and
      180 words
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      32 10 SELLING YOUR CAR? POSTANAD ONSTCars.sg FORFREE! Doitvia www.stcars.sg/place-adnow! i i And browse over25,000new, used cars commercial and rental vehicles. Buy, sell or rent. At www.STCars.sg, your ideal car isn’t hard to find.
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon 1MDB manages to refinance debt due today
      501 11  -  10-year, RM5.5b loan has Maybank, RHB as mandated lead arrangers By ANITA GABRIEL anitag@sph.com.sg @AnitaGabrielBT AS time runs out for Malaysia’s debt-laden 1Malaysia Development Bhd (1MDB) to repay a hefty RM6.17 billion (S$2.4 billion) bridging loan due today, the statebacked fund has managed
      501 words
    • Article
      Lock icon MAHB unveils plans to expand main KLIA terminal
      538 11  -  By PAULINE NG in Kuala Lumpur WITH the completion and debut of KLIA2, the new terminal of the Kuala Lumpur International Airport (KLIA), the focus has now shifted to expanding the 16-year-old main terminal. This comes on the heels of the main
      538 words
    • Article, Illustration
      Lock icon How to reduce commodity dependence
      619 11  -  B)’ LEE MEIXIAN |eemx@sph.com.sg @LeeMei><ianBT [SINGAPORE] The three large Asean economies of Indonesia, the Philippines and Thailand, which are striving to shift from significant commodity dependence to high value-added exports, can take a leaf out of Singapore and Malaysia’s experience, said ICAEW’s latest Economic Insight
      Source: UN Conference on Trade and Development, Trade Statistics; Compiled by ICAEW  -  619 words
  • Page 11 Advertisements
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      182 11 ad aria<= Supply Chain Training Centre Professional Qualification in Supply Chain V I T iu EMPOWER YOUR LEARNING CILT (UK) Level5 f Professional Diploma In Logistics Transport Awarded by The Chartered Institute of Logistics and Transport, U.K. A modular programme for middle managers with functional responsibilities in warehousing, transport, inventory
      182 words
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      253 11 Experience The City Be Central I s Ni w vs V A m a s K Promotional Rates Enjoy WEEKEND SAVERS deals at both hotels and ALL-WEEK TEMPTING offers at The Gardens Residences; offers valid till 30 June 2014; is.ca PP iy" Deluxe Room at The Gardens Hotel Residences RM395*
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  • Page 11 Miscellaneous
    • Miscellaneous
      Lock icon Page 11 Miscellaneous Column 1
      40 11 i/v/V $5 Million Anniversary Draw Group 1 Prize snowballed to QSf $5,728,292 Draw on Fri, 23 May 2014 at 9.30pm For details, visit www.singaporepools.com.sg p layA Always play with care. responsibly] Do not bet illegally. RGB Reg No: *****0202G m
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  • GREATER CHINA/INDIA
    • Article, Illustration
      Lock icon Strong mandate gives Modi room for policy manoeuvre
      577 12  -  Sebi member cites fiscal and revenue deficits, inflation, education By MALMINDERJIT SINGH msingh@sph.com.sg @MalminderjitBT [SINGAPORE] The new Indian administration, while facing several challenges on the economic and social fronts, has some room for policy manoeuvre a positive result of Prime Minister-designate Narendra
      577 words
    • Article
      Lock icon China, Russia ink 30-year natural gas supply deal
      260 12 Reuters [SHANGHAI] China and Russia signed a long-await-ed natural gas supply deal yesterday, securing the world’s top energy user a major new source of the clean-burning fuel and opening a market to Moscow as Europeans look elsewhere for their energy. The deal
      Reuters  -  260 words
    • Article
      Lock icon China sells dim sum bonds worth 16 billion yuan
      305 12 Reuters [HONG KONG] China completed the sale of 16 billion yuan (S$3.2 billion) in dim sum bonds yesterday, drawing strong demand from institutional investors seeking to diversify investment portfolios despite the weakness of the Chinese currency. China’s economy has shown broad
      Reuters  -  305 words
    • Article
      Lock icon HK anti-graft body arrests former banker
      441 12 Ex-JPMorgan staff under probe over hiring programme NYT [HONG KONG] The former head of Chinese investment banking at JPMorgan Chase has been arrested by Hong Kong’s anti-corrup-tion agency, a Chinese news report and a person briefed on the matter said yesterday, possibly opening a
      NYT  -  441 words
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      376 12 May The Best Employee Win: Achieving Your Full Potential, Who should attend: Human resource, communications, marketing, talent retention, sales; managers, supervisors, team leaders, department heads, executives, business owners, and anyone who wishes to grow a successful career. 2014 MAY SERIES FULL-DAY WORKSHOPS Supervising and Motivating Gen X and Y Staff
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      65 12 YOU MUST-HAVE ENOVATION ESOU CE BOOK! 2014 EDITION OUT NOW! Create your own cinema, spa and gym at home Build the wardrobe of your dreams Discover the hottest trends in tiles, wallpaper and more! EARLY-BIRD SPECIAL AT ONLY $8 (U.P. $10) Valid till July 31, 2014. Only for print edition
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  • WORLD
    • Article, Illustration
      Lock icon China retaliates against cyber spying charges
      583 13 Defence ministry blasts US accusations as hypocritical WP Bloomberg [BEIJING] Outraged by US cyberspying charges against members of a secretive Chinese military unit, China summoned the US ambassador in Beijing for a dressing down, state media said on Tuesday, and the defence ministry blasted
      WP; Bloomberg; PHOTO: REUTERS  -  583 words
    • Article, Illustration
      Lock icon China drops Windows 8 purchase order
      378 13 Microsoft working with govt to evaluate operating system Bloomberg [BEIJING] Microsoft Corp, the world’s largest software maker, said that it’s working with China’s government to evaluate its Windows 8 operating system after the software was excluded from a government purchasing order. Microsoft, which continues
      Bloomberg; FILE PHOTO  -  378 words
    • Article
      Lock icon BOE official says exit from stimulus will be difficult
      469 14 Rates will be ‘more volatile along the exit path’, says deputy governor Bloomberg [LONDON] Bank of England (BOE) deputy governor Charlie Bean said policymakers face potential “potholes” when it comes to exiting the extraordinary stimulus measures they implemented during the recession,
      Bloomberg  -  469 words
    • Article, Illustration
      Lock icon Siemens moving to make an offer for Alstom, says French minister
      275 14 AFP [PARIS] Siemens wrote to Alstom on Tuesday seeking information for a possible bid for the French energy and transportation company, said French Economy Minister Arnaud Montebourg. The German company “wrote this morning to Alstom to request details, deepen
      AFP  -  275 words
    • Article
      Lock icon Manila showcases economic boom at ‘Asia’s Davos’
      483 14 Event to focus on sustainable and equitable growth AFP [MANILA] The Philippines was to launch yesterday a high-profile sell of its surging economy as it welcomed hundreds of business chiefs and government leaders for Asia’s edition of the World Economic Forum (WEF). After
      AFP  -  483 words
    • Article, Illustration
      Lock icon Google sticks to cash outside US for acquisitions
      560 15 It tells SEC it needs the cash for deals as competition increases overseas Bloom berg [SAN FRANCISCO] Google Inc is keeping a large portion of its cash outside the US so that it can use as much as US$30 billion for possible
      Bloomberg; PHOTO: AFP  -  560 words
    • Article
      Lock icon Google trumps Apple as world’s top brand: survey
      287 15 Millward Brown poll puts IBM in third place; China leads in insurance sector AFP [PARIS] US search engine Google has overtaken rival technology titan Apple as the world’s No 1 brand in terms of value, global market research agency Millward Brown said
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      Lock icon Surge in Fed reverse repo facility
      850 16 Speculation grows FOMC may make it a permanent tool to be used during taper Bloomberg [NEW YORK] Use of the Federal Reserve’s reverse repurchase agreement (repo) facility is surging as speculation rises that policymakers may make the programme a permanent tool to be used
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      Lock icon GM’s vehicle recalls hit record 13.5m this year
      914 16 New safety practices adopted this year raise repair bill to US$1.7b NYT [NEW YORK] General Motors has issued four more recalls, bringing its total for the year to 13.5 million, already the most in the company’s history. The recalls including 2.4 million
      NYT; PHOTO: REUTERS  -  914 words
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      Lock icon Netflix to enter new European markets this year
      446 16 Reu ters [LOS ANGELES] Netflix Inc will launch its online movie and TV subscription service later this year in France, Germany and four other European countries, in a major push into new markets. The other new countries Netflix will enter in late
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      Lock icon BNP Paribas shares hit 7-month low on concerns over US probe
      530 17 France’s largest bank may be fined more than US$5b Bloomberg [NEW YORK] The shares of BNP Paribas, France’s largest bank, fell to a sev-en-month low in Paris on concerns that United States authorities will seek more than US$5 billion
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      Lock icon Talks to end Thai crisis produce no resolution
      709 18 Army chief orders rival factions to think of solutions; sides meeting again today Reuters [BANGKOK] At crisis talks yesterday aimed at ending confrontation a day after the army declared martial law, Thailand’s rival political factions would not agree to stop their protests,
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      Lock icon Japan concerned over Thai situation
      504 18  -  It seeks Bangkok’s assurances on safety of its people, smooth operation of its firms By ANTHONY ROWLEY in Tokyo THE Japanese government yesterday expressed “great concern” over the situation in Thailand, where martial law has been declared, and Japan’s Ministry of Foreign Affairs said it
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      Lock icon eBay recommends password change after cyber attack
      354 18 Reu ters AFP [NEW YORK] US online giant eBay yesterday said cyber attackers broke into its database with customer names, passwords and other personal data earlier this year. The California company said it was notifying its customers, and urging them to change passwords
      Reuters; AFP  -  354 words
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      Lock icon Japan export growth in April remains tepid
      637 18 BOJ holds a more optimistic view of the economy Reuters [TOKYO] Japan’s exports rose for the 14th straight month in April but shipments to the US slowed, underlining concerns that the world’s third largest economy remains vulnerable to any fall in external demand.
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    • Article
      Lock icon Biggest Swedish banks to hold 1% risk buffer
      255 18 Bloomberg [STOCKHOLM] Sweden’s biggest banks will be required to hold about one per cent in additional capital to create a buffer against risks posed by households’ record debt loads. The so-called counter-cyclical buffer will apply from the summer of next year, the
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    • Article
      Lock icon JGBs, world’s priciest debt, ‘at risk of sell-off’
      749 19 Japan pension fund under pressure to deliver returns matching inflation Bloomberg [TOKYO] Deutsche Bank AG has dubbed Japanese Government Bonds (JGBs) the world’s most expensive debt and BNP Paribas SA predicts a sell-off as soon as next month when the nation’s biggest
      Bloomberg  -  749 words
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      Lock icon Japan looks to tourists to boost spending
      706 19 Reu ters [TOKYO] In ageing Japan, retailers are waking up to a hot new demographic: foreign visitors. Driven by government tourism promotions and lately a weaker yen, the number of inbound travellers has quietly doubled in the past decade to top 10 million
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      783 14 The Business Times Ik I 1 I /"I I 1 Toll free 1800-289-8822 I I Email notices@sph.com.sg J M i j L. J www.sphclass.com.sg/notices XINREN ALUMINUM HOLDINGS LIMITED (Incorporated in Singapore on 29 August 2006) (Company Registration No. *****2545H) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an
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      702 14 THE MONETARY AUTHORITY OF SINGAPORE APPLICATION FOR TAXABLE BOOK-ENTRY SINGAPORE GOVERNMENT BONDS Tenor Total Amount Offered Minimum Denomination MAS 1 Intended Tender Amount 2 Issue Code ISIN Code Issue Datc/Scttlcmcnt Date Maturity Dale 1 Coupon Rate Yield and Price 4 Coupon Payment Dates 1 Next Coupon Payment Date 1 Method
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      40 15 The Business Times Ik T^V 1 I 1 I /"I I 1 Toll free 1800-289-8822 I I I Email notices@sph.com.sg J J i L J www.sphclass.com.sg/notices Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices
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      0 15 /@<":;+?[~;@_)|?&`*].<='-)*~%*`
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      572 15 IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF SODEXO FM CENTRE PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUDIATION) (CO. REG NO. *****3193R) NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of Sodexo FM Centre Pte. Ltd. deemed to be held on 19 May 2014, the
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      395 15 Rabobank Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. Head Office Croeselaan 18, 3521 CB Utrecht, The Netherlands Singapore Branch 77 Robinson Road #08-00 Singapore *****6 EXECUTIVE BOARD Rinus Minderhoud (M.), Chairman Berry Marttin (B.J.). COO Bert Bruggink (A.), CFRO Rien Nagel (H.) SUPERVISORY BOARD Wout Dekker (W.), Chairman Antoon Vermeer (A.J.A.M), Deputy Chairman
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      31 16 ROUGH ROAD AHEAD Do people expect too much of Narendra Modi? DONATING FOR OUR HERITAGE GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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      107 16 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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      337 16 THE BUSINESS TIMES NOTICES In the Matter of The Companies Act, Cap 50 And In the Matter of Sumato Energy Pte. Ltd. Company No. *****775D (In Members’ Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that the Final Meeting of the above-named Company will be held at 190
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      2602 17 The Business Times Ik I 1 I /“I I 1 Toll free 1800-289-8822 I I Email notices@sph.com.sg J J i j L J www.sphclass.com.sg/notices Head Office: 35 Sukhumvit Road, Klong Toey Nua Subdistrict, Wattana District, Bangkok ***** Thailand Singapore Office: 65 Chulia Street, #32-05/07 OCBC Centre, Singapore *****3 Tel: (65)
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      2544 19 The Business Times Ik ~T I 1 I /"I I 1 Toll free 1800-289-8822 I I Email notices@sph.com.sg I V i www.sphclass.com.sg/notices Financial Report 2013 Consolidated Balance Sheet CHF million 2013 2012 Assets Swiss SRB Basel III capital information CHF million, except where indicated Phase-in Fully applied Board of Directors
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  • EDITORIAL & OPINION
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      Lock icon Internet innovation and ‘uber’ regulation
      1042 20  -  Adopting a pragmatic approach in dealing with new agents of change is the way to go BY SRIRAM CHAKRAVARTHI The writer is director, strategic policy and chief legal counsel at the Singapore Academy of Law. The views expressed here are his own THE word “uber”
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      Lock icon Tough love from PBOC for China’s online financiers
      782 20  -  reuters BREAKINGVIEWS THE BOTTOM LINE By ROBYN MAK CHINA’S central bank is trying to tame online finance. The country’s Internet industry has aggressively moved into digital credit cards and online funds. Now the authorities are fighting back with a series of proposed
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      Lock icon A tentative truce in Thailand
      500 20 EDITORIAL EVEN if it sounds like a coup and looks like a coup, it is not really a coup. Or at least that’s what the Thai military would like the world to believe. There may be reason to buy their argument, at least for now.
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      Lock icon Surge to the political right continues
      1192 21  -  Liberal politicians will keep losing elections until they recognise and respond to the electorate’s deep-rooted grievances LEON HADAR Washington Correspondent IF IN the aftermath of the 2008 financial crisis and the ensuing Great Recession, one were asked to forecast how the world would look
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      Lock icon EM private equity players diversify, are more hands-on
      801 21  -  By HUGH MACARTHUR, GRAHAM ELTON, BILL HALLORAN SUVIR VARMA The writers are leaders of Bain Company’s Private Equity Group AFTER surveying another year of disappointing results from their merging market investments in 2013, many private equity (PE) investors who had enthusiastically piled
      Sources: EMPEA; AVCJ; Preqin  -  801 words
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      Lock icon Reframing Asia’s talent scarcity: different mosaics, one picture
      807 21  -  By SUNIL PURI The writer is head of research and insights at the Human Capital Leadership Institute (HCLI). The above insights are adapted from HCLI’s most recent research work, ‘Leadership Mosaics across Asia’ THE picture of Asia may be one of opportunities
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  • SHIPPING/AVIATION
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      Lock icon Asia demand for marine fuel expected to rise 2%
      600 22 Growing shipment of raw materials in the region cited as reason Reuters [SINGAPORE] Asian demand for marine fuel is expected to grow up to 2 per cent in 2014 after stagnating for five years, as more goods and raw materials are
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      Lock icon State-owned airlines seen as challenge
      492 22 They are a global game-changer, says Lufthansa CEO Reuters [WASHINGTON] Deutsche Lufthansa is recovering from a pilot strike in April and views competition from state-owned carriers as one of its biggest challenges, its new chief executive told Reuters in an interview on Tuesday. Carsten Spohr,
      Reuters  -  492 words
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      Lock icon Flight attendants at Virgin America seek unionised vote
      347 22 Reuters [SEATTLE] Flight attendants at Virgin America airlines are seeking a vote on whether to unionise, according to an official at the Transport Workers Union (TWU), in a move that could pave the way for organised labour’s latest victory in the airline
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      Lock icon Braemar buys British shipbroker ACM
      218 22 Reuters [LONDON] Braemar Shipping Services will buy fellow British shipbroker ACM Shipping Group in the latest industry shake-up as players look to grow after years of freight market turmoil. In the biggest deal to date, Braemar, whose businesses include ship broking, said on Tuesday that
      Reuters  -  218 words
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      Lock icon Premium air travel sees reversal of fortunes
      340 22  -  Weak demand likely reflection of China slowdown: Iata By JAIRA KOH jairakoh@sph.com.sg [SINGAPORE] The outlook for premium air travel remains broadly positive, but improvements seen in late 2013 have shown some reversal, said the International Air Transport Association (Iata). Growth in the number
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      Lock icon Boxes lift Maersk’s Q1 profit 62%
      335 22 Revenues up 0.9% to US$11.7b, short of US$12b forecasts AFP [COPENHAGEN] Danish shipping and oil conglomerate A.P. Moeller-Maersk reported yesterday a 62 per cent rise in quarterly profit as it shipped more containers but for a lower average price. Net profit for the group
      AFP; FILE PHOTO  -  335 words
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      Lock icon TRANSPORT STOCKS
      234 22 SGX '000 May 21 S$ +/-Vol Ch Offshore '000 Chuan Hup Hldg 0.28 unch 135 Cosco Corp 0.72 unch 644 Cwt Limited 1.70 0.02 3037 Vol First Ship Lea 0.09 unch 141 Grand Banks Jaya Hold Ltd Chuan Hup Hldg,,, K1Ventures unch Keppel Corp 10.66 0.07 2749 Mercator
      234 words
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      33 22 LIANHE ZAOBAO Combining Chinese and Western medicines local medical hall's 3rd-gen owner now selling its products oversi s h Km 't’SJ Ills in is ?h To subscribe, call 6388-3838 or go to sphsubscrlptlon.com.sg
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  • Page 22 Miscellaneous
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      317 22 CRYPTIC CROSSWORD Across 1 Choose one spiritualist say, seeing bright future (10) 6 The French socialist leader’s not so much! (4) 9 House radiolocation case in plane’s broken instruments (10) 10 Capital left in Midland account initially (4) 12 The setter scoffs empty dog’s dinner (4) 13 Struggle by English
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    Lock icon SHIPPING TIMES
    1229 23 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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      130 23 Masterclass: Tanker Chartering Training Fee*: S$l,200 (no GST) 5 6 June 2014, Orchard Hotel, Singapore *70% MPA/MCF training grant available to Singapore Citizens/PRs Learning Objectives of this Upper-Level Chartering Course Analysis of tanker trade, terminology, classifications, etc. Main clauses of charter parties analysed explained: Asbatankvoy, ShellvoyS, Shelltime4, Asbatime, etc. Negotiating,
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  • SINGAPORE STOCKS
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      Lock icon SGX MAINBOARD
      3976 24 Transaction date: May 21 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 AAT 13.5 10.4 8Telecom Last Quote Div Gr Yld Net M Cap 12.3 6.7 AIMS Property 12.3 unch 502
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      Lock icon SGX CATALIST
      421 25 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 35 23 t 3Cnergy 500 Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale ('000) High Low Buyer
      421 words
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      Lock icon UNIT TRUST & FUNDS
      11782 25 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.53/ Aberdeen Asset Mgt Asia Limited 1.22/ Asian Local Ccy SD Bond Global Emerging Markets!** 1 9857/ China Opportunities 1 8375/ EM Local Ccy Bond 0.9217/ European Opportunities! 1 3865/ Global Emerging Markets!” Global Opportunities/
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      Lock icon GLOBALQUOTE
      235 25 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 Last 328 191 TanChongInt HK325cd unch 426 325 325 325 328 9.7 3.2 3.2 6545.2 DISCLAIMER: All information is published “as is” without warranty of any kind
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      Lock icon SGX ETF
      1086 25 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 119.8 108.3 ABF SG Bond ETF 115 33 115.2 115 114.4 115 525 138.7 119 CIMB APAC Div 100S$D 131 +0.5 131 131 129.7 132.3 108.9
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  • FINANCE & COMMODITIES
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      Lock icon SGX DERIVATIVES TRADING
      664 26 May 21 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.71 *****.24 *****.43 Jun14 *****.00 *****.00 *****.00 *****.00 ***** *****2 Sep14 *****.00 *****.00 *****.00 *****.00 73 8654 MSCI TAIWAN INDEX FUTURES SPOT 319.49 319.64 317.26 May14 320.10 320.70 318.10 318.30 ***** *****9 Jun14 319.80
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      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 26 In local curr In S$ In US$ dy yr dy yr dy yr May 20 Index Change Change Change Change Change Change World Preliminary 1195.3 -0.1 0.9 0.0 0.5 -0.2 1.3 EAFE Preliminary 949.6 -0.1 -0.7 0.0 -0.4 -0.2 0.4 Europe Preliminary 1388.3 -0.2 2.5
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      Lock icon INTERBANK CROSS RATES
      471 26 May 21 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.007 5.759 0.674 7.161 54.264 106.312 0.932 9.487 2.971 1.077 91.243 40.428 1.157 9.635 0.823 27.871 29.991 0.547 0.924 Canada 0.993 5.721
      471 words
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      Lock icon SIBOR
      36 26 May 21 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) 1 mth 0.***** 3 mths 0.***** 6 mths 0.***** Source: Thomson Reuters
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      Lock icon GOVERNMENT SECURITIES
      82 26 May 21 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 1-Year BY*****S 02-May-15 0.34 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0W 1.13 01-Apr-16 101.31 101.36 101.31 5-Year NX*****W 2.5 01-Jun-19 105.73 105.73 105.73 10-Year NX*****H 2.750 01-Jul-23
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      Lock icon PRECIOUS METALS
      120 26 May 21 GOLD(US$/oz) May 21 May 20 Hong Kong 1298.00 1295.00 May 20 May 19 London 1293.56 1298.16 1294.24 1298.13 Source: Thomson Reuters CAST BAR May 21 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 78 50 5gm 312 258 10gm 581 518
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      Lock icon PALM OIL
      57 26 May 21 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 14 2561.0 2542.0 2562.0 2529.0 493 3937 Jul 14 2533.0 2518.0 2537.0 2506.0 6166 ***** Aug 14 2521.0 2505.0 2525.0 2492.0 ***** ***** Sep 14 2518.0 2501.0
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      Lock icon INTERBANK CURRENCY RATES
      155 26 May 21 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1565 1.1576 0.9234 0.9239 Canadian dollar 1.1491 1.1497 0.9176 0.9175 Euro 1.7174 1.7184 1.3713 1.3715 NZ dollar 1.0736 1.0742 0.8572 0.8574 Sterling pound 2.1142 2.1156 1.6881 1.6886
      155 words
    • Article
      Lock icon CHICAGO BOT
      109 26 May 20 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 14 1469.75 1485.25 1501.00 1468.00 Aug 14 1405.25 1419.75 1432.50 1404.50 Sep 14 1284.75 1293.25 1312.25 1283.50 Nov 14 1232.25 1238.75 1257.25 1231.00 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 14
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      Lock icon LIFFE
      94 26 May 20 COCOA (£/tonne) Close Prev High Low Jul 14 1857 1839 1859 1834 Sep 14 1856 1840 1857 1836 Dec 14 1854 1843 1857 1837 Mar 15 1851 1840 1853 1835 COFFEE(US$/tonne) Close Prev High Low May 14 2041 2042 2049 2032 Jul14 2036 2037 2048 2023 Sep
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    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1064 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 3.2 0.3 1 -48 3.82 50 Asia-Pacific Strategic W*****6 2 unch 3826 1 2 60 Ratio Albedo Limited W*****9 Price Asiatic Grp(Hldgs) Ltd W*****5 Disc Asiatravel.com HoldingsW*****7 1
      1,064 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 26 CRUDE OIL PRODUCTS May 20 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 109.70 -0.25 WTI (Near Mth) 102.71 0.11 Dubai (1-Mth F) 105.37 -0.50 Tapis blend 113.79 -0.89 Minas 109.49 -0.89 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 104.39 0.61 Jet Kerosene 120.12 -0.63 US$/barrel OpecOil Basket
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      Lock icon US$/S$ FORWARD RATES
      23 26 May 21 S$ S$ Bid Offer 1-month 1.2524 1.2529 2-months 1.2524 1.2529 3-months 1.2523 1.2529 6-months 1.2522 1.2527 Source: OCBC
      23 words
    • Article
      Lock icon LONDON METALS
      66 26 May-20 May-20 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1728.75 1732.25 3 months 1770.00 1774.00 Copper, Grade A(US$/tonne) Cash 6933.00 6983.00 3 months 6885.00 6925.00 Lead(US$/tonne) Cash 2108.00 2127.75 3 months 2133.50 2153.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
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      Lock icon FOREIGN CURRENCY NOTE RATES
      121 26 As at 9am May 21 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.184 1.128 Can dollar 1.170 1.125 Euro 1.756 1.673 Sterling pound 2.148 2.066 NZ dollar 1.099 1.057 US dollar 1.277 1.217 Local dollars to 100 units of foreign
      121 words
    • Article
      Lock icon INTERBANK RATES
      157 26 May 21 $S Offer Bid 0vernight 0.04 0.01 1-month 3/8 1/4 2-months 3/8 1/4 3-months 7/16 5/16 Overnight mode: 0.01 US$ Offer Bid 7 days 0.18 0.08 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
      157 words
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  • PROPERTY
    • Article, Illustration
      Lock icon Talk of the town – London’s housing boom
      1097 27 Talk of the town London’s housing boom Escalating values, foreigners with piles of cash are what’s abuzz in the city Bloomberg [LONDON] Rohit Sabhlok said he’s upset he lost a bidding war on a London house. Katy Barnes bought her home to avoid rising rents, while Holly Martin purchased hers
      Bloomberg; PHOTO: REUTERS  -  1,097 words
    • Article
      Lock icon Househunt
      1336 27 PROPERTY TRANSACTIONS FOR DISTRICTS 1 TO 28 WITH CONTRACT DATES BETWEEN APRIL 9 AND APRIL 15, 2014 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED Robinson Suites Apt 14/04/2014 FH 506 1139 2250 District 2 NON-LANDED Onze@Tanjong
      1,336 words
    • Article, Illustration
      Lock icon Oxley appoints Accor to run two new hotels
      371 28  -  The Stevens Road hotels will be run under Novotel and Ibis brand names B)’ SHEENA TAN tsheena@sph.com.sg OXLEY Holdings, a homegrown lifestyle property developer, has appointed hotel operator Accor to run two of its new hotels along Stevens Road. The hotels, to
      371 words
    • Article, Illustration
      Lock icon Western landmark replicas in China entertain some, infuriate others
      870 28 AFP [CHONGQING, China] Already renowned for copying Western goods from trainers to champagne, China is building up its replica reputation with a miniature Mount Rushmore, Eiffel Tower and an entire Austrian village. The reproduced structures also dubbed “duplitecture” can appear bizarre
      AFP; PHOTO: AFP  -  870 words
    • Article
      Lock icon German retail acquisitions soar
      222 28 Bloomberg [BERLIN] German retail property acquisitions more than doubled in the first quarter as demand for stable returns pushed the total above the UK for the first time since 2012, Cushman Wakefield Inc said yesterday in a report. Investors bought 3.43 billion euros (S$5.87 billion) of
      Bloomberg  -  222 words
    • Article, Illustration
      Lock icon JTC launches ‘future-ready’ industrial facility
      490 29  -  Next gen building comes with bells and whistles for high-tech manufacturing By MINDY TAN tanmindy@sph.com.sg @MindyTanBT THE launch of JTC Space Tampines North the latest in JTC Corporation’s suite of infrastructure solutions that integrates land-based facilities with high-rise, multi-user factories is expected to fill a
      490 words
    • Article
      Lock icon Lloyds limits mortgage lending to cool London housing prices
      300 29 Bloomberg [LONDON] Lloyds Banking Group Plc, the UK’s biggest mortgage lender, said it will impose limits on lending to homebuyers to counteract rising house prices in London. The bank will cap lending at four times salary on loans of more than
      Bloomberg  -  300 words
    • Article
      Lock icon Another sukuk issue by Saudi firm draws investors
      531 29 Bloomberg [DUBAI] Dar Al Arkan’s third Islamic bond sale in a year is attracting buyers as investors bet the Saudi Arabian company’s real estate assets outweigh a junk credit rating at Standard Poor’s (S&P). Dar Al Arkan Real Estate Development Co is
      Bloomberg  -  531 words
    • Article
      Lock icon Thai developer warns of daunted investors
      159 29 Reuters [BANGKOK] Thailand’s largest industrial land developer, Amata Corp, said that it was worried that foreign investors could halt investments in Thailand after the implementation of martial law. Several clients had already delayed signing contracts to buy land after the country’s political crisis escalated,
      Reuters  -  159 words
  • Page 27 Advertisements
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      64 27 COMMONWEALTH TOWERS The Undiscovered Investment Bonanza in The Queenstown Planning Area Located right next to Queenstown MRT. A home that connects you to work, convenience and a huge pool of tenants. No wonder 85% of the first released batch are snapped up! Come and discover it too. Kelvin Yeo 9005
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