The Business Times, 12 June 2014

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Microfilm: NL33151
Total Pages: 36
1 36 The Business Times
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  • Title Section
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    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Thursday, June 12, 2014
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  • Article, Illustration
    Lock icon SingTel unit in US$359m buys
    703 1  -  Amobee acquiring digital ad technology firms Adconion and Kontera By JACQUELYN CHEOK By jaccheok@sph.com.sg @JacCheokBT [SINGAPORE] Singapore Telecommunications (SingTel) is making a big statement about its digital ambitions, with its digital advertising arm Amobee acquired two years ago for US$321 million now acquiring advertising technology
    BT Graphics: Jennifer Chua, Jacquelyn Cheok; Source: SingTel  -  703 words
  • Article
    Lock icon Inflation forecasts cut but cost worries stay: MAS poll
    724 1  -  BY TEH SHI NING téhining@sph.com.sg @TehShiNingBT [SINGAPORE] Economy watchers have cut their 2014 inflation forecasts from a quarter ago, even as they kept growth projections intact, a recent survey by the Monetary Authority of Singapore (MAS) found. But this speaks more
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  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 HST INDEX 3,290.04 (-3.78) HST INDEX FUTURES 3,290.00 (-4.00) HSIMSCI 374.27 (-0.54) HSIMSCI FUTURES 374.10 (-1.20) US$ S$ US$ (S$ per US$) 1.251 (US$/S$ per 1.676 2.096 EURO (US$/S$/€ 1.354 1.693 Foreign currency per US$ S$ YEN 102.30 81.80 RM 3.214 2.570 HK$ 7.752 6.198 BAHT 32.51 25.99 RUPIAH
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    • Article
      Lock icon MARKETS
      49 1 Wednesday Change KL COMP 1,878.38 +1.77 NIKKEI 225 15,069.48 +74.68 HANG SENG 23,257.29 -58.45 SET INDEX 1,463.71 -5.48 JAKARTA COMP 4,971.95 +25.86 MANILA COMP 6,809.18 +31.20 SEOUL COMP 2,014.67 +2.87 SHENZHEN B 820.75 -0.18 MUMBAI IND 25,473.89 -109.80 12 noon EDT Change DOW 16,861.60 -84.32 NASDAQ 4,337.13 -0.87
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    • Article
      Lock icon PRIME RATES
      21 1 SINGAPORE MALAYSIA HONG KONG 5.35 INDONESIA 5.00 INDONESIA 15.380 KOREA 5.036 JAPAN 1.475 KOREA 9.33 INDIA 0.50 Source: Bloomberg
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      155 1 SPECIAL FEATURE Excellence in finance PAGE 13-24 COMMENTARY Spain’s worst enemy now is complacency PAGE 27 PROPERTY CityDev sets world record for largest vertical garden PAGE 36 WORLD CUP Brazil 2014 kicks off; CEOs and their bets PAGES 4 5 *****1 11 *****4 MM Wmmm mrngm um v&Zci m -is
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  • TOP STORIES
    • Article
      Lock icon THREE-MINUTE DIGEST
      457 2 SingTel unit buys ad tech firms for over US$350m SINGAPORE Telecommunications is making a big statement about its digital ambitions, with its digital advertising arm Amobee acquired two years ago for US$321 million now acquiring advertising technology companies Adconion and Kontera for over US$350 million to become a
      457 words
    • Article, Illustration
      Lock icon Impact of shale gas revolution on S’pore ‘minimal’
      786 2  -  By ANDREA SOH sandrea@sph.com.sg @AndreaSohBT [SINGAPORE] The development of the shale gas market in the United States may be making a revolutionary impact on Europe and on the US itself, but the head of one of the world’s largest privately held logistics
      PHOTO: TSEN THAU MING/LIANHE ZAOBAO  -  786 words
    • Article
      Lock icon MSCI excludes China A shares from global indices
      538 2 Bloomberg Reuters [SINGAPORE] Equity index provider MSCI on Tuesday said that it will not include China’s mainland-based A shares in its benchmark emerging markets index but that the shares will remain on review for 2015. MSCI Inc’s decision to exclude China’s local
      Bloomberg; Reuters  -  538 words
    • Article
      Lock icon Correction
      78 2 IN “Khazanah GLCs’ market cap triples to RM425b in 10 years”, we wrongly reported that Khazanah Nasional’s select group of large government-linked corporations (GLCs) has tripled in market capitalisation to RM425 billion (S$166 billion) as at mid-May from 2004. It should be the G20’s market cap that has tripled
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    • Article
      Lock icon IMF launches index to avert property bubbles
      718 2  -  New webpage will be one-stop shop for data on countries’ housing indicators By ANTHONY ROWLEY in Tokyo IN a development seen as being of global importance for recording property price movements and preventing asset bubbles and financial crises, the International Monetary Fund (IMF)
      718 words
    • Article, Illustration
      Lock icon More execs say it’s OK to misstate financials
      666 2  -  By MICHELLE QUAH By michquah@sph.com.sg@MichelleQuahBT [SINGAPORE] More than one-fourth of senior executives in Singapore feel it is justifiable to misstate financial performance in order to survive an economic downturn. The staggering statistic was one of many in EY’s 13th and latest Global
      Source: EY's 2014 Global Fraud Survey  -  666 words
    • Article, Illustration
      Lock icon Ads following S’poreans into the Web
      825 3  -  Revenue in Internet advertising market seen growing at CAGR of 10.3% BY AMIT ROY CHOUDHURY amit@sph.com.sg @AmitRoyCBT [SINGAPORE] Most Singaporeans are always connected to the World Wide Web either via their smartphones or through broadband. The Internet has become the first choice for consuming
      Source: PwC  -  825 words
    • Article
      Lock icon Blatter told not to seek fifth term as Fifa president
      281 3 Bloomberg [RIO DE JANEIRO] European soccer leaders told Sepp Blatter not to run for a fifth term as president of Fifa, saying he’s damaged the governing body’s reputation during his 16 years in charge. Mr Blatter, 78, has been meeting
      Bloomberg  -  281 words
    • Article, Illustration
      Lock icon At fever pitch worldwide
      734 4  -  For the host country, fans and players, the tournament is worth every effort WORLD CUP 2014 LEE U-WEN leeuwen@sph.com.sg @LeeUwenBT Correspondent THE day that most employers were dreading is finally here. With the first of 64 World Cup matches kicking off tonight, offices across the island
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    • Article, Illustration
      Lock icon For the love of the beautiful game
      265 4 DID YOU KNOW? This is the first time that Brazil is hosting a World Cup since 1950 This is the first World Cup to feature goal-line technology Spain is bidding to be the first country to win back-to-back World Cups and European Championships
      Sources: Wired, Graphic News, Miguel Nicolelis, the Guardian; BT Infographics: Simon Ang, Ludwig Ilio, Sarah Loyola & Lee U-Wen  -  265 words
    • Article, Illustration
      Lock icon World Cup’s underwater oracles
      555 4  -  Football fans can track the predictions during game period By LEE U-WEN leeuwen@sph.com.sg @LeeUwenBT [SINGAPORE] For a fish that originates from Brazil, this arowana doesn’t seem to have enough faith that its countrymen have what it takes to beat Croatia in the opening match of the
      PHOTO: SEAH KWANG PENG/THE STRAITS TIMES  -  555 words
    • Article, Illustration
      Lock icon OUT OF OFFICE: BRAZIL 2014
      410 5 These CEOs will be scoring for charity over the next four weeks. They have adopted a World Cup team each in The Business Times-Coca-Cola World Cup Charity Drive and will face off each other whenever their team plays in Brazil. The losing CEO will donate
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      20 3 IM-euu MIL' A collection of Lianhe Zaobao's business columns [Hard Cover] $39.90 $29.90 [Soft Cover] AVAILABLE AT POPULAR, KINOKUNIYA MPH
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      287 3 Mindfulness It is Good for Business It is Good for You! Thursday, 17 July 2014 5:30pm 10pm Orchid Country Club Mindfulness Session Dinner 250% tax deductible event l^Care Speaker: Tan Chade Meng (Meng) is a Google pioneer, an award-winning engineer, a New York Times bestselling author, a thought leader and
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      119 5 Brazil 2014: Be there, here! The World Cup kicks off in Sao Paolo today and here’s what we have lined up for you from today: NDaily Brazil 2014 page from Monday to Saturday match previews, off-pitch stories and what CEOs are saying about their “adopted” teams in The BT-Coca-Cola World
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      224 5 Deadline extended to June 13 Chil^ ALL-STARS EDITION This year, we are celebrating 10 years of ChildAid with you as our stars! Come join the show to raise funds for two worthy children's charities and with a star-studded alumni of ChildAid, many of whom have gone on to become stars
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon STI dips; penny-stock play fizzles out
      671 6  -  Dampening factors: absence of strong leads and World Bank’s trimming of global growth forecast STOCKS ANITA GABRIEL anitag@sph.com.sg @AnitaGabrielBT Senior Correspondent IN the absence of any strong leads yesterday, the local bourse had a ho-hum day, staying stuck in negative territory and drifting further
      Source: Bloomberg  -  671 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      76 6 Jun 11 VALUE CLOSE BT OB/OS -60.00-212.00 BT CADI -*****.00 -99.00 BT 10-day MA -*****.00 -6.00 FTSE ST Mid Cap 767.32 -1.17 FTSE ST Small Cap 556.91 -2.87 FTSE ST All Share 800.79 -1.18 FTSE ST China Top 198.15 -1.18 FTSE ST China 226.10 -2.48 FTSE ST
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    • Article
      Lock icon MOST ACTIVE STOCKS
      59 6 VOLUME Blumont 225,651,000 Teledata 205,219,000 Mirach Energy 170,809,000 InnoPac 141,487,000 KLW R 126,173,000 APAC Strategic 95,204,000 GlobalYellowPgs R 70,710,000 Artivision Tech 67,919,000 Asiasons Capital 51,915,000 IPCO Intl 44,816,000 VALUE($) Global Logistic 104,796,405 DBS Grp 78,541,240 SingTel 49,674,250 UOB 34,662,390 Mirach Energy 32,935,608 Keppel Corp 30,689,870 OCBC Bank
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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 4 8 2 0 0 0 4 8 2 Manufacturing 33 45 53 5 10 13 38 55 66 Commerce 19 26 17 5 3 3 24 29 20 Tpt/Stor/Comms 12 21 9
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    • Article
      Lock icon BROKERS’ TAKE
      975 6  -  Compiled by CAI HAOXIANG Telcos OCBC Investment Research, June 11 June 11 close: Singtel $3.86 StarHub $4.27 M1 $3.59 ALL three telcos have largely kept their outlook for the rest of this year unchanged after reporting their March quarter results, with most expecting stable to moderate earnings growth,
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 29,332 29,332 53,142 53,142 Manufacturing 437,871 234,700 672,571 129,921 18,086 148,007 Commerce 89,578 108,787 198,365 59,700 9,489 69,189 Tpt/Stor/Comms 118,232 6,792 125,024 132,355 926 133,281 Finance 155,502 302 155,804 151,103 89 151,192 Construction 63,462 48,910
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    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      119 6 Stock name Close Change Ascendas Reit 2.310 -0.010 CapitaLand 3.230 +0.020 CapitaMall Trust 2.000 -0.010 CityDev 10.400 +0.090 ComfortDelGro 2.460 DBS Grp 17.030 -0.020 Genting Sing 1.340 Global Logistic 2.670 -0.090 Golden Agri-Res 0.575 -0.005 HPH Trust USD 0.745 -0.010 HongkongLand USD 6.740 -0.060 JMH 400
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    • Article, Illustration
      Lock icon Emerging Asian units turn slightly weaker
      531 6 CURRENCIES Reuters [SINGAPORE,] Most emerging Asian currencies failed to maintain early gains and turned slightly weaker yesterday as US Treasury yields rose and the Chinese yuan slipped. The ringgit fell after data showed Malaysia’s industrial production in April rose a slower-than-expected 4.2 per cent
      Reuters; PHOTO: BLOOMBERG  -  531 words
    • Article, Illustration
      Lock icon FTSE ST CATALIST INDEX
      5 6 DAILY
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  • COMPANY NEWS
    • Article
      Lock icon Singapore to benefit from tighter Asean integration: report
      416 7  -  But Republic needs to deal with pressures of cost normalisation By LESTER WONG lesterw@sph.com.sg SINGAPORE has much to gain from tighter regional integration but needs to be aware of the challenges presented by cost normalisation, according to a report by Citi Research
      416 words
    • Article, Illustration
      Lock icon Tiong Seng to make precast tunnel parts
      625 8  -  Joint venture with Japanese firms eyes Singapore and Malaysia markets By LEE MEIXIAN leemx@sph.com.sg @LeeMeixianBT HOME-GROWN construction group Tiong Seng Holdings has signed a joint venture (JV) agreement with two listed Japanese companies to manufacture and supply precast tunnel segments for the Singapore
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    • COMPANY BRIEFS
      • Article
        Lock icon Sabana Reit remains investment grade
        77 8 SABANA Shari-ah Compliant Industrial Real Estate Investment Trust remains an investment grade borrower, according to ratings agency Standard Poor’s. The industrial property investor’s long-term corporate credit rating was affirmed at “BBB-” and its long-term Asean regional scale rating kept at “axA-” with a stable outlook.
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      • Article
        Lock icon CCM plans to change its name
        45 8 CONSTRUCTION and property development company CCM Group wants to change its name to Singapore eDevelopment Ltd to reflect its new business activities including property development and investments. A shareholders’ meeting will be called to vote on the name change.
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    • Article
      Lock icon First Resources in favour despite drop in crude palm oil prices
      434 8  -  Growth, valuations among factors cited by research houses By CAI HAOXIANG haoxiang@sph.com.sg @HaoxiangCaiBT CRUDE palm oil (CPO) prices have tumbled 17 per cent to below 2,400 ringgit (S$934) a tonne since its peak in mid-March, as Malaysia continues to
      434 words
    • Article
      Lock icon Total Access to delist from SGX
      222 8  -  B)’ CAI HAOXIANG h2aoxiang@sph.com.sg @HaoxiangCaiBT TOTAL Access Communication, Thailand’s second-lar-gest mobile operator, plans to delist its secondary listing on the Singapore Exchange mainboard. This is due to low trading volume, compliance costs and its intention to raise funds only through its Thailand primary listing.
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    • Article
      Lock icon Fast CME Group access now being offered via Marketprizm
      259 8  -  By CAI HAOXIANG haoxiang@sph.com.sg @HaoxiangCaiBT THERE are now more alternatives for high-frequency traders planning to trade CME Group contracts in Singapore at a fast speed. Marketprizm, a firm which supplies specialised trading infrastructure, said it will provide CME Group raw market
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    • Article
      Lock icon Tigerair Singapore’s May passenger load factor up slightly at 84.9%
      301 8  -  By RAPHAEL LIM raphlim@sph.com.sg BUDGET carrier Tigerair Singapore has reported a 0.9 percentage point year-on-year rise in passenger load factor to 84.9 per cent for May, as traffic growth outpaced capacity injections. Revenue passenger kilometres (RPK) the number of paying
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      Lock icon Page 7 Advertisements Column 1
      1627 7 SINGAPORE POST LIMITED I ncorporatedintheRepublicofSingapore) CompanyRegistrationNumber:*****1623M THIS NOTICE OF ANNUAL GENERAL MEETING SUPERSEDES AND REPLACES THE VERSION SET OUT ON PAGES 220 TO 226 OF THE ANNUAL REPORT 2013/2014 NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE OF ANNUAL GENERAL MEETING NOT I CEISHEREBYGIVENTHATTHE22NDANNUALGENERALMEET I NGoftheCompanywillbeheldatLevel3,Summit1,SuntecSingaporeConvention &ExhibitionCentre,1 RafflesBoulevard,SuntecCity,S i ngapore*****3 onFr i
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      1092 8 The Business Times Ik 1 1 Toll free 1800-289-8822 I I I Email noticesysph.com.sg J B H i B j ij www.sphclass.com.sg/notices MYP LTD. Company Registration No. *****9721C (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of MYP
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      553 8 IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF SIMEFIELD PTE. LTD. Company registration no. *****5481R (In Members’ Voluntary Liquidation) At an Extraordinary General Meeting of the Company duly convened and held at 80 Tras Street Singapore *****9 on 5 June 2014, the following Resolutions
      553 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon Singapore digital universe poised to expand 8-fold
      337 9 Amount of data will grow from 46b GB to 377b GB in 2013-2020: study SINGAPORE’S digital universe is set to grow eight-fold between 2013 and 2020, from 46 exabytes to 377 exabytes. Given that one exabyte is equivalent to a billion gigabytes (GB),
      BT Graphics: Jennifer Chua; Source: EMC Corporation  -  337 words
    • Article
      Lock icon Marina Bay Sands is latest hotel to stop serving shark’s fin
      247 9  -  By SHEENA TAN tsheena@sph.com.sg MARINA Bay Sands (MBS) has become the latest hotel here to stop serving shark’s fin in its restaurants and at the MICE (Meetings, Incentives, Conventions, Exhibitions) events it hosts. The hotel said yesterday that the
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    • SINGAPORE ROUNDUP
      • Article
        Lock icon Singapore chairs Asean SME Working Group
        117 9 SINGAPORE has assumed the chairmanship of the Asean SME Working Group (Asean SMEWG), taking over from Myanmar. The chairmanship lasts from June 2014 to June 2015. Spring Singapore’s deputy chief executive, Ted Tan, is the republic’s representative on the body. The Asean SMEWG is
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      • Article
        Lock icon Public consultation on draft GST bill
        73 9 THE Ministry of Finance (MOF) is conducting a public consultation on the draft GST (Amendment) Bill 2014. The bill provides for three changes to the GST system, including allowing GST-registered persons to fully claim GST on re-import of goods belonging to their customers. Other
        73 words
    • Article, Illustration
      Lock icon National Stadium wows with its custom design, roof
      296 9  -  By LEE U-WEN leeuwen@sph.com.sg @LeeUwenBT MEMBERS of the media were given a two-hour guided tour of the new $1.3 billion Singapore Sports Hub in Kallang yesterday. Representatives from the project’s design team Arup, DP Architects and Aecom were present to explain the
      PHOTO: DESMOND LIM/THE STRAITS TIMES  -  296 words
  • Page 9 Advertisements
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      366 9 THE BIGGEST CAREER FAIR IS BACK AGAIN FREE BOOTH* AT STJOBS CAREER DEVELOPMENT FAIR 2014! REQUEST NOW LIMITED BOOTH AVAILABLE Be part of Singapore's biggest and most exciting event with job seekers, employers and training providers all under one roof. Here's your opportunity to recruit talents and attain high brand
      366 words
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  • MALAYSIA/INDONESIA
    • Article, Illustration
      Lock icon El Nino seen paring palm oil yield by 12%
      657 10 Prices may rise to RM2,650-2,850 a tonne from August, says IOI chief Bloomberg [KUALA LUMPUR] A moderate El Nino weather pattern would reduce palm oil output by as much as 12 per cent in Malaysia, the world’s second-largest producer, IOI Corp
      Bloomberg; PHOTO: AFP  -  657 words
    • Article
      Lock icon Bumi avoids default, pays overdue coupon
      530 10 Investors watching its refinancing plan with concern Bloomberg [SINGAPORE] PT Bumi Resources avoided a default by paying an overdue coupon on its US$300 million November 2016 bonds, according to a filing to the Indonesian stock exchange. “The outstanding coupon has been paid today within
      Bloomberg  -  530 words
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      195 10 Always Be Discovering with The Business Times tUMtnu 0mAT0 /jiff m Vv iiunMut r,n i(j mu n^r.iiiitiuiuianume vaik Uvtut n itun ntKuniif k zr1 r ft CELl ,*c« HU NCH y CELLAR WINE TASTING GUIDE M OA 'L~ m R O C E Ss es pampres Q \inev :ird (Jems
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  • GREATER CHINA
    • Article, Illustration
      Lock icon PBOC keeps monetary policy steady this year
      593 11 Move comes even as fiscal spending in May rises 25%, as govt spurs economy Reuters [BEIJING] China’s central bank said yesterday that it will keep monetary policy steady in 2014, even as the finance ministry said fiscal spending had surged nearly 25 per
      Reuters; PHOTO: REUTERS  -  593 words
    • Article
      Lock icon Growing China exposure spurs HK to impose bank rules early
      512 11 Regulators act as worries about China credit squeeze rise NYT [HONG KONG] A surge in business loans to the slowing mainland Chinese economy has prompted Hong Kong regulators to impose strict financial rules four years before they are required under
      NYT  -  512 words
    • Article
      Lock icon Beijing does a Dubai: building artificial isles in South China Sea
      477 11 Bloomberg [MANILA] Sand, cement, wood and steel are the latest tools in China’s territorial arsenal as it seeks to literally reshape the South China Sea. Chinese ships carrying construction materials regularly ply the waters near the disputed Spratly Islands,
      Bloomberg  -  477 words
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      1121 11 The Business Times NOTICES Toll free 1800-289-8822 Email nolices@sph.conn.sg www.sphclass.com.sg/notices IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF NORBROOK SINGAPORE PTE. LTD. (In Members’ Voluntary Liquidation) (Company Registration No. *****6856R) (the “Company”) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section
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  • WORLD
    • Article
      Lock icon ‘Flat’ growth for developing nations: World Bank
      677 12 But advanced economies’ rebound can help offset their stagnation AFP [WASHINGTON] The World Bank lowered its 2014 growth forecasts for the global economy on Tuesday, but said that advanced economies’ rebound from a rough start would help offset stagnation in developing countries. Most
      AFP  -  677 words
    • Article, Illustration
      Lock icon US House Majority Leader upset by Tea Party rival in primary
      717 12 Cantor criticised for being soft on immigration issues NYT [WASHINGTON] In one of the most stunning primary election upsets in congressional history, the House Majority Leader, Representative Eric Cantor, was soundly defeated on Tuesday by a Tea Party-backed economics
      NYT; PHOTO: AFP  -  717 words
    • Article
      Lock icon Investors pump US$18.6b of new cash into hedge funds
      272 12 Reu ters [BOSTON] The allure of hedge funds grew in April when investors added US$18.6 billion in new money to these portfolios, according to a survey, even as their performance again lagged behind stock and bond markets’ returns. Investors sent nearly
      Reuters  -  272 words
    • Article
      Lock icon Top banks in London pay 37% more bonus
      227 12 Bloomberg [LONDON] London’s investment bankers at firms including Bank of America Corp, Deutsche Bank AG and Goldman Sachs Group Inc get bonuses 37 per cent higher than counterparts at smaller firms, according to Emolument.com. Managing directors at large firms in the UK
      Bloomberg  -  227 words
    • Article
      Lock icon New rules, low volatility hitting Wall St banks
      885 12 Goldman stays the course; others seek shelter or get out NYT [NEW YORK] The world of Goldman Sachs, Morgan Stanley and the rest of the investment banks is being remade, squeezed by new regulations and record-low volatility in the markets. So what
      NYT  -  885 words
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      793 12 The Business Times NOTICES GRP GRP LIMITED (Company Registration Number: *****1449C) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of GRP Limited (the “Company") will be held at Albizia Room, Level 2, Jurong Country Club, 9 Science Centre
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  • Excellence in Finance
    • Article, Illustration
      Lock icon Repositioning to meet new challenges
      2091 13  -  After 40 years, the Institute of Banking and Finance is renewing its efforts to support the development of Singapore’s financial sector with a new set of industry standards.FRANCIS KANhas the details IBF 40TH ANNIVERSARY FRANCIS KAN FOR ALMOST a decade, it was unintentionally one of
      PHOTO: YEN MENG JIIN; PHOTO COURTESY OF IBF  -  2,091 words
    • Article, Illustration
      Lock icon Training for excellence in finance
      806 14 MESSAGE FROM RAVI MENON, IBF CHAIRMAN THE INSTITUTE of Banking and Finance Singapore (IBF) is proud to celebrate 40 years of excellence in finance this year. IBF was set up in 1974 to meet an urgent need for more trained banking personnel in the early
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    • Article, Illustration
      Lock icon A BRAND NEW DAY
      286 14 FROM its early days of offering banking diplomas to Singapore bankers, through to the administering of licensing examinations, IBF has worked with the Monetary Authority of Singapore (MAS) and the financial industry to promote continuous learning and the highest standards of workforce competency. In 2013, IBF
      286 words
    • Article, Illustration
      Lock icon Keeping up and staying relevant
      2479 15 Four senior bank executives share their views on the importance of training and development as the financial sector becomes increasingly complex The Business Times: How has the importance of training in the financial sector grown and what are the reasons behind it? Evangeline Chua: The
      PHOTO: YEN MENG JIIN  -  2,479 words
    • Article, Illustration
      Lock icon In pursuit of Asia’s growing wealth
      1138 16  -  Asia remains a high-growth region for private banking, but players must navigate multiple headwinds to succeed.FRANCIS KANreports KANreports succeed.FRANCIS KANreports THE next few years will be tough for private banks in Asia, as regulatory pressures, rising competition for talent and more demanding customers lead
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    • Article, Illustration
      Lock icon Culture of Continuous Learning
      1170 16 Great Eastern Life, the leading life insurer in Singapore and Malaysia, places customers at the heart of what it does and is committed to building the most trusted and professional distribution force. Commented Dr Khoo Kah Siang, CEO (Singapore), Great Eastern, “We champion a culture of
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    • Article, Illustration
      Lock icon Building a strong talent base
      391 18  -  Citi’s people development programmes strive to build a strong pipeline of future leaders, says MICHAEL ZINK MICHAEL ZINK The writer is head of Asean and Citi country officer for Singapore THE vision and foresight, 40 years ago, of setting up an institute dedicated to achieving
      391 words
    • Article, Illustration
      Lock icon Digitisation and innovation drives Citibank’s customer experience
      937 18  -  By HAN KWEE JUAN The writer is chief executive officer at Citibank Singapore Limited TODAY, the world is rapidly changing and becoming increasingly connected. Customers’ expectations have evolved over the years and they look for speed, convenience, and value in the products and
      937 words
    • Article, Illustration
      Lock icon Training and development at Citi
      741 18  -  By EVANGELINE CHUA The writer is head of human resources for Citi Singapore MORE than technology or access to a wide range of products, a key success factor for any financial services company is its people. It’s an accepted fact that the talent base provides
      741 words
    • Article, Illustration
      Lock icon A dedicated space for learning
      900 19 The state-of-the-art Credit Suisse Wealth Institute plays a key role in developing the bank’s talent ENTER a classroom at the Credit Suisse Wealth Institute and one is greeted by interactive teaching aids that allow trainers to engage participants with more dynamic visuals. When synced with
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      Lock icon Training for success
      251 19 CREDIT Suisse provides a long term, modular and state-of-the-art training curriculum and development model that captures the career cycle of each Relationship Manager. Some of these programmes include: Global Train To RM (GTTRM) Programme The GTTRM Programme provides functional and sales training for nominated high performing assistant
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      Lock icon LEADING THE WAY IN ASIA
      701 20 Asia's dynamic growth presents both opportunities and challenges for banks in the region. To stay ahead of the competition and keep abreast of swift market movements, they must harness talent and equip their people to capture growth opportunities while navigating the myriad industry changes. As
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      Lock icon Building OCBC’s Talent Pipeline
      1201 21 OCBC’s training initiatives prepare their local talent to tackle new challenges IN a competitive industry where people are the most important differentiator, OCBC is committed to developing its talent as part of its efforts to grow into a world-class bank. “We will need a diverse talent
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      Lock icon A Mark of Quality
      448 21 Bank of Singapore’s bespoke training programme ensures that its private bankers are aligned to the highest standards in the industry BANK of Singapore, the private banking arm of the OCBC Group, adopts a unique approach to talent development. It is the first Singa-pore-headquartered private bank to
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      Lock icon Working as one bank to better serve clients
      464 22 Standard Chartered Bank’s integrated consumer and wholesale divisions help it deliver higher quality service and boost productivity. WHEN a husband and wife team engaged in the real estate business internationally wanted to acquire premium commercial and hospitality properties in Singapore, they turned
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      Lock icon A purely client-focused organisation to serve private bank clients
      544 22 THE integration of Standard Chartered Bank’s consumer and wholesale divisions has seen a renewed emphasis placed on its growing private banking business. The “one bank” approach allows its relationship managers and product specialists to better serve the specific needs of their
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      67 17 Level 1 IBF Qualified A new entrant, one equipped with broad-based capabilities and foundational competencies to be ready to undertake new roles. Level 2 IBF Advanced An experienced practitioner, one who has acquired applied knowledge and complex analytical skills for specialists or supervisory functions. Level 3 IBF Fellow An industry
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      53 19 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 Private Bank
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      82 22 Sometimes, it takes a deeper understanding to discern real opportunities. With more than 150 years of history in Asia, Africa and the Middle East, our insights stem from in-depth local knowledge. Through expertise that comes from experience, we can help you navigate DO YOU FOCUS ON WHAT’S FAMILIAR? OR FIND
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  • Article, Illustration
    Lock icon Delivering superior results for our clients
    967 23 The road to success Asia Pacific continues to be one of the fastest-growing regions in the world for the UBS Group. With a broad and established footprint in 13 countries across the region with more than 7,300 professionals, the bank offers one of the
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      327 23 This material has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient and is published solely for information purposes. No representation or warranty, either express or implied is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor
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      86 23 Recognition by Industry and Clients IM Best Private Bank Euromoney Private Banking Wealth Management Survey 2013 2014 e Oitst*.<«ncGummi Pu\'*ti Bank >ii Outstanding Global Private Bank Private Banker International Wealth Awards 2013 Best Global Private Bank Global Private Banking Awards 2013 I? Vv is AWARDS 'Jr Best Investment Bank FinanceAsia
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  • Article, Illustration
    Lock icon Investing in our people
    1260 24 As one of the region’s leading banks and one of Singapore’s largest employers in the financial services sector, United Overseas Bank (UOB) recognises its responsibilities to deliver sustainable growth and to contribute to the sector’s stability. As the Bank builds a sustainable franchise in Southeast Asia,
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  • WORLD
    • Article, Illustration
      Lock icon EU probes three member countries’ MNC tax deals
      580 25 Reuters [LONDON] The European Commission raised pressure on Ireland, the Netherlands and Luxembourg over their corporate tax practices, saying it was investigating deals the countries have cut with Apple, Starbucks and Fiat. The European Union (EU) is looking at whether the countries’
      Reuters; PHOTO: BLOOMBERG  -  580 words
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      Lock icon UK jobless at lowest in 5 years as economy recovers
      438 25 Bloomberg [LONDON] UK unemployment fell to the lowest in more than five years as the economic recovery gained momentum. The jobless rate as measured by International Labour Organization (ILO) methods dropped to 6.6 per cent in the three months to
      Bloomberg  -  438 words
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      Lock icon UBS pips US rivals in wealth management
      455 25 Swiss bank lifted AUM by 16% to US$2.1 trillion last year: PAM Insight Bloomberg [GENEVA] UBS AG, Switzerland’s biggest bank, leapfrogged Morgan Stanley and Bank of America Corp to become the world’s largest wealth manager by client assets, according to a ranking compiled
      Bloomberg  -  455 words
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      Lock icon Alibaba launches US shopping website
      611 25 It is also absorbing mobile browser developer UCWeb AFP [SAN FRANCISCO] China’s e-commerce giant Alibaba has launched an American shopping website as the company continues a deal binge ahead of a widely anticipated US listing. The online shopping site –called 11 Main opened on a
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      Lock icon Maker of wearable cameras eyeing IPO of US$21-24 a share
      294 25 Reuters [NEW YORK] GoPro Inc, a maker of wearable sports cameras and accessories, said it expected its initial public offering to be priced at US$21-24 per share, valuing the company at up to US$3 billion. The San Mateo, Califor-nia-based company’s
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      Lock icon Swiss Re to buy HSBC’s pensions business in UK
      274 25 Bloomberg [ZURICH] Swiss Re, the world’s sec-ond-biggest reinsurer, agreed to buy the UK pensions business of HSBC Holdings for an undisclosed sum. Underlying assets under management forming part of the deal are valued at about £4.2 billion (S$8.8 billion) at the
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      Lock icon Rowling donates £1m to stop Scot separation
      246 25 Bloom berg [LONDON] JK Rowling, the author of the Harry Potter books who lives in Scotland, gave £1 million (S$2.1 million) to the campaign to keep the country in the UK ahead of a referendum on independence. The Better Together group confirmed the
      Bloomberg  -  246 words
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  • EDITORIAL & OPINION
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      Lock icon Downside of populist campaigns in Indonesia
      477 26 EDITORIAL ELECTION campaigns are well known to generate more rhetoric than substance, and the contenders in Indonesia’s upcoming presidential contest appear to be fully living up to this expectation. But the rampant populism on display can do more harm than good. The strikingly similar
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      Lock icon S-E Asia may be stumbling block for China Silk Road plan
      788 26  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 LAST autumn, half a year after assuming office as China’s president, Xi Jinping invoked the ancient Silk Road of the
      788 words
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      Lock icon In a crisis, don’t bank on groupthink for a way out
      1116 26  -  Thrice during the Cold War, decisions by a single leader turn out to be the correct ones By HARISH MEHTA The writer, a former BT senior correspondent, is a historian who has taught at Canadian universities, and has written
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      Lock icon Brazil prays for W-Cup win to save economy
      968 27  -  President Rousseff needs it as much to have any chance of being re-elected REUTERS BREAKINGVIEWS By ROB COX AT the opening of the Confederations Cup in Brasilia a year ago, President Dilma Rousseff was booed by thousands of football fans for all
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      Lock icon Spain’s worst enemy now is complacency
      891 27  -  By HELGA JUNG The writer is a member of the Allianz SE Board of Management Project Syndicate AFTER fighting for its life for the last two years, Spain’s economy finally seems to have moved out of intensive care. The banking sector has been deemed
      Project Syndicate; PHOTO: REUTERS  -  891 words
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      Lock icon Basic discontent will stay even after Scots vote
      865 27  -  JOHN GEE The writer is a Singapore-based freelance writer IF Scots vote to separate from the United Kingdom on Sept 18 this year, I would not fault them, nor dispute their right to independent statehood, but I would regret it. I should
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  • AVIATION/SHIPPING
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      Lock icon Denmark’s Thorco Shipping eyes more ships, IPO
      478 28 It may buy vessels that banks want to offload from stricken shipping firms Reu ters [COPENHAGEN] Denmark’s Thorco Shipping expects to expand its fleet by 50 per cent in coming years and plans to list on the Copenhagen stock exchange when industry conditions
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      Lock icon Lufthansa shares nosedive amid Gulf challenge
      499 28 Earnings forecasts for 2014-15 slashed as ticket prices dip Bloomberg [LONDON] Deutsche Lufthansa AG fell the most in five years after cutting earnings forecasts for this year and next as a capacity splurge at Gulf rivals hurts prices and its own pilots protest against
      Bloomberg; PHOTO: REUTERS  -  499 words
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      Lock icon Emirates cancels order for 70 A350 aircraft
      535 28 Loss is estimated to be a tenth of Airbus’s 2014 orders AFP [TOULOUSE] Emirates airline delivered a huge blow to European aerospace group Airbus yesterday, cancelling an order for 70 new-generation A350 airliners, which analysts estimate represents about a tenth of the aircraft
      AFP  -  535 words
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      Lock icon Obama signs water projects bill to fund port deepening
      187 28 Bloomberg [WASHINGTON] US President Barack Obama signed into law a US$12.3 billion water-projects plan that will pay for deepening ports for bigger ships, cutting costs for exporters. The law is the first water infrastructure bill since 2007 and authorises 34 projects
      Bloomberg  -  187 words
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      Lock icon TRANSPORT STOCKS
      241 28 SGX '000 Jun 11 S$ +/-Vol Ch Offshore 0.45 -0.01 210 Chuan Hup Hldg 0.29 -0.01 115 '000 Cwt Limited 1.78 -0.01 672 s$ First Ship Lea 0.09 unch 471 Grand Banks Ch Offshore Jaya Hold Ltd -0.01 K1Ventures 0.18 unch 1255 Keppel Corp 10.74 0.02 2863 Mercator
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      35 28 STYLE SUBSTANCE Most frequently used four-letter word in India is Modi SRI VEERAMAKALIAMMAN TEMPLE PREPARES FOR ITS GRAND CONSECRATION GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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      57 28 Find essential solutions and services to achieve your business goals more cost-effectively! \W\\\\ y P so I I Pi. m Payroll 'nifndopatf BIBDQI r ASIA 16 18 July 2014 Marina Bay Sands, Singapore Sands Expo and Convention Center Level 1, Hall A B Register at www.OfficExpoAsia.com/visitl Organised By BIZLINK Exhibition
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  • Page 28 Miscellaneous
    • Miscellaneous
      Lock icon Page 28 Miscellaneous Column 1
      370 28 CRYPTIC CROSSWORD Across 1 Old firearm London police found round river (6) 4 Dogsbody, it’s undeniable, without a belly? (8) 9 River ban due to be overturned (6) 10 Formal English girl, in short, of ancient origins? (8) 12 Big load divided by wife in community (4) 13 It’s helpful
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  • Article
    Lock icon SHIPPING TIMES
    1183 29 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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      79 29 Experienced sh/p maintenance findyou y r I services services wanted, here mthe Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 The Business Times 1111— UUJIIVLJJ IMVILJ Shipping Times Legal services required by shippers owners TO ADVERTISE, CALL JOE WONG AT 9620 Can they find your services here in
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  • SINGAPORE STOCKS
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      Lock icon SGX MAINBOARD
      4142 30 Transaction date: Jun 11 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 Company 20 5.1 A-Sonic Aero Sale Vol Day Last Quote ('000) High Low Buyer Seller Div Gr Yld 13.7 6.7
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      Lock icon SGX CATALIST
      499 31 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 32 23 t 3Cnergy 500 Last Vol Day 1.9 0.9 t Advanced Systems 0.9 -0.2 1001 1 0.9 0.9 1.1 17.5 Last Quote Div
      499 words
    • Article
      Lock icon UNIT TRUST & FUNDS
      10345 31 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** unoCI A! Aberdeen Asset Mgt Asia Limited 1.57/ APS Alpha Fund (USD)!* 1.26/ Aberdeen Asset Mat Asia Limited Global Emerging Markets!** L *****/ s 1 Pacific Equity USD!** S'pore Equity USD!** China Opportunities!’ Thailand Equity
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      Lock icon GLOBALQUOTE
      249 31 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 62 40.5 AVJennings A58.5 unch 1 58.5 58.5 57 59.5 3.6 6 4.8 216.6 Company 343 191 TanChongInt HK338 -1 114 338 337 337 339 9.7 3.1
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      Lock icon SGX ETF
      1072 31 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 118.5 108.3 ABF SG Bond ETF 114.8 -0.1 5 114.8 114.4 114.4 114.8 524 135.5 119 CIMB APAC Div 100S$D 131 -1.5 131 131 129.7 132.3
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  • FINANCE & COMMODITIES
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      Lock icon SGX DERIVATIVES TRADING
      655 32 Jun 11 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.13 *****.72 *****.63 Jun14 *****.00 *****.00 *****.00 *****.00 *****7 *****3 Sep14 *****.00 *****.00 *****.00 *****.00 ***** *****2 MSCI TAIWAN INDEX FUTURES SPOT 330.45 330.72 329.40 Jun14 329.40 330.00 328.90 329.80 ***** *****3 Jul14 324.50
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 32 In local curr In S$ In US$ dy yr dy yr dy yr Jun 10 Index Change Change Change Change Change Change World Preliminary 1235.9 0.0 4.3 -0.1 3.3 -0.1 4.4 EAFE Preliminary 980.9 0.1 2.6 -0.1 1.9 -0.1 3.0 Europe Preliminary 1427.8 0.3 5.4
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    • Article
      Lock icon INTERBANK CROSS RATES
      471 32 Jun 11 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.024 5.851 0.694 7.281 55.696 110.862 0.961 9.540 3.018 1.098 92.549 41.139 1.175 10.122 0.845 28.184 30.532 0.560 0.939 Canada 0.977 5.715
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    • Article
      Lock icon SIBOR
      39 32 Jun 11 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) 1 mth 1 mth 3 mths 3 mths 6 mths 6 mths Source: Thomson Reuters
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      Lock icon GOVERNMENT SECURITIES
      84 32 Jun 11 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-16 101.22 101.25 101.25 5-Year NX*****W 2.5 01-Jun-19 105.69 105.80 105.75 10-Year NX*****H 2.750 01-Jul-23
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      Lock icon PRECIOUS METALS
      122 32 Jun 11 GOLD(US$/oz) Jun 11 Jun 10 Hong Kong 1268.00 1260.00 Jun 10 Jun 09 London 1260.20 1253.60 1260.85 1254.25 Source: Thomson Reuters CAST BAR Jun 11 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 77 48 5gm 306 251 10gm 569 505
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    • Article
      Lock icon PALM OIL
      57 32 Jun 11 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 14 2385.0 2380.0 2385.0 2385.0 10 574 Jul 14 2385.0 2386.0 2387.0 2370.0 779 8611 Aug 14 2378.0 2379.0 2384.0 2364.0 ***** ***** Sep 14 2379.0 2377.0
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      Lock icon INTERBANK CURRENCY RATES
      155 32 Jun 11 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1741 1.1751 0.9389 0.9394 Canadian dollar 1.1469 1.1479 0.9177 0.9172 Euro 1.6929 1.6938 1.3538 1.3541 NZ dollar 1.0691 1.0698 0.8549 0.8552 Sterling pound 2.0955 2.0966 1.6757 1.6761
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 32 As at 9am Jun 11 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.198 1.141 Can dollar 1.167 1.123 Euro 1.730 1.648 Sterling pound 2.132 2.050 NZ dollar 1.090 1.049 US dollar 1.274 1.214 Local dollars to 100 units of foreign
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      Lock icon INTERBANK RATES
      157 32 Jun 11 $S Offer Bid 0vernight 0.01 par 1-month 3/8 1/4 2-months 3/8 1/4 3-months 7/16 5/16 Overnight mode: 0.01 US$ 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
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    • Article
      Lock icon CHICAGO BOT
      109 32 Jun 10 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jul 14 1462.50 1457.00 1475.25 1454.25 Aug 14 1395.25 1394.50 1406.00 1389.75 Sep 14 1270.25 1267.00 1277.00 1262.75 Nov 14 1229.50 1224.25 1232.50 1219.00 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Jul 14
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    • Article
      Lock icon LIFFE
      95 32 Jun 10 COCOA (£/tonne) Close Prev High Low Jul 14 1961 1956 1964 1954 Sep 14 1948 1944 1951 1942 Dec 14 1933 1929 1935 1927 Mar 15 1922 1920 1926 1916 COFFEE(US$/tonne) Close Prev High Low Jul 14 1875 1883 1881 1868 Sep 14 1894 1899 1898 1885
      95 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      1025 32 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 Conv Asia-Pacific Strategic W*****6 3.5 -0.4 ***** 1 2 59 Exer Albedo Limited W*****9 Prem Asiatic Grp(Hldgs) Ltd W*****5 2.1 unch 40 0.0 2 15 Asiatravel.com HoldingsW*****7 10.5
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    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 32 CRUDE OIL PRODUCTS Jun 10 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 109.10 -0.43 WTI (Near Mth) 104.44 0.05 Dubai (1-Mth F) 105.19 0.73 Tapis blend 113.90 0.92 Minas 109.30 0.92 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 104.64 0.75 Jet Kerosene 118.07 0.41 US$/barrel OpecOil Basket
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      Lock icon US$/S$ FORWARD RATES
      22 32 Jun 11 S$ Bid Offer 1-month 1.2505 1.2509 2-months 1.2505 1.2509 3-months 1.2504 1.2509 6-months 1.2502 1.2507 Source: OCBC
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    • Article
      Lock icon LONDON METALS
      66 32 Jun-10 Jun-10 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1865.50 1886.00 3 months 1900.50 1911.00 Copper, Grade A(US$/tonne) Cash 6710.00 6688.50 3 months 6675.00 6670.00 Lead(US$/tonne) Cash 2116.25 2120.75 3 months 2140.00 2141.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
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  • PROPERTY
    • Article, Illustration
      Lock icon Towers rise in US cities as condos make a comeback
      1034 33 First-time homeowners flocking to urban settings are helping fuel demand Bloomberg [LOS ANGELES] For the first time since the US housing crash, new condominium towers are sprouting in downtown Boston, Seattle and Los Angeles as developers bet on the return
      Bloomberg; PHOTO: AFP  -  1,034 words
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      Lock icon Househunt
      1030 33 PROPERTY TRANSACTIONS FOR DISTRICTS 1 TO 28 WITH CONTRACT DATES BETWEEN APRIL 30 AND MAY 6, 2014 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED Pacific Mans Apt 05/05/2014 FH 1528 2030 1328 District 3 NON-LANDED Twin
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      Lock icon Shelved Las Vegas projects are being revived
      1136 34 Building recovery is sign of investor confidence in nascent recovery Bloomberg [CHICAGO] For almost five years, the desert plot at the western edge of the Las Vegas valley was home to hulking steel skeletons ghostly ruins of a construction project halted by the
      Bloomberg; PHOTO: REUTERS  -  1,136 words
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      Lock icon Tokyo’s Olympic venue plans under review
      544 35 Rise in consumption tax, construction and labour costs not in original proposal Reuters [TOKYO] Rising labour and construction costs are forcing a review of Tokyo’s venue plans for the 2020 Summer Olympic Games and could lead to a scaling back of facilities, Japanese officials
      Reuters  -  544 words
    • Article
      Lock icon Famous Irish hotel, two others go on sale for 30m euros
      343 35 Bloomb erg [LONDON] The Malton, where Jacqueline Kennedy and her children vacationed in the 1960s, and two other Irish hotels were put on sale for 30 million euros (S$51 million). That’s 10 million euros less than The Malton alone
      Bloomberg  -  343 words
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      Lock icon Home of millionaire accused of murder sets Aussie sale record
      387 35 Bloomberg [SYDNEY] The Sydney harbourfront mansion of millionaire Australian property developer Ron Medich, who is accused of murder, was sold for close to the A$40 million (S$47 million) asking price, setting a 2014 Australian record. The five-bedroom home in the
      Bloomberg; PHOTO: BLOOMBERG  -  387 words
    • Article
      Lock icon Emaar Malls ‘raising US$750m through sukuk’
      296 35 Over US$5b orders said to be placed for the 10-year notes Bloomberg [DUBAI] Emaar Malls Group is raising US$750 million through a debut Islamic bond issue, according to two people familiar with the matter. The 10-year sukuk may price at about 185 basis points
      Bloomberg  -  296 words
    • Article
      Lock icon Vietnamese developer to tap nascent suburban-style homes
      602 36 It aims for a 10-fold rise in its market capitalisation to US$1 b by 2020 Bloomberg [HO CHI MINH CITY] Nam Long Investment Corp, Vietnam’s biggest affordable housing developer, plans to move to building satellite towns, which are taking hold as rising incomes
      Bloomberg  -  602 words
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      Lock icon Vertical garden at CDL condo is world’s largest
      421 36  -  By LYNETTE KHOO lynkhoo@sph.com.sg @LynetteKhooBT [SINGAPORE] City Developments Ltd (CDL) has set a world record for the largest vertical garden a feature in its condominium project completed last year. Tree House’s 2,289-square-metre vertical garden has entered Guinness World Records, trumping the last
      421 words
    • Article
      Lock icon Hilton to open 5 more hotels in Myanmar
      257 36 Operator signs management deals with Eden Group Co Reuters [SINGAPORE] Hilton Worldwide Holdings, the world’s largest hotel operator by market value, said it plans to open five more hotels in Myanmar in the next three years, even as its maiden project in
      Reuters  -  257 words
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      253 34 Industrial Building near Joo Koon MRT Station A purpose-built industrial building comprising a three storey ancillary office and single storey production area Site Area: 53,140.39 sq ft Built-up: 41,051.47 sq ft Land Tenure: 30 +30 years wef 1 May 1994 Master Plan 2008: “B2” with Plot Ratio 1.4 Tender Close:
      253 words
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      65 34 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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  • Page 35 Advertisements
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      82 35 ST REGIS RESIDENCES FOR SALE IN D10 4Bdrm-3897Sqft PentHouse-6017 Sqft Full Condo Facilities Near Tanglin Mall Please contact TOKIO PROPERTY SERVICES PTE LTD 9670 0285 Toru Takano 6737 5187 Weng KnightFrank.com. sg Estate Sale by Tender @1X Yuk Tong Ave Single-storey intermediate terrace with an attic Land: 1700 sqft (approx.)
      82 words
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      Lock icon Page 35 Advertisements Column 2
      173 35 Brand New Light Industrial off Raya Lebar savills For Lease 5-min walk to Raya Lebar MRT Excellent location Surrounded by amenities s Unique Conservation Shophouses For Sale i ifTILi i .1 Keong Salk Rare freehold, 3% yield 2 Vi storey; Full Commercial L 1,317/BU 2,810 sqft est. Bukit Pasoh Tanjong
      173 words
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      Lock icon Page 35 Advertisements Column 3
      237 35 AMBER SKYE Upcoming new residential development in the East! Prices start from $16XX psf Freehold in prime District 15 Excellent location. 15-min to CBD, 5-min to airport Iconic development Choice of units: 1 to 4-bedroom apartments, 6-bedroom villa penthouse Quality finishes and good layout Sizes from 527 sq ft 5,177
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  • Page 36 Advertisements
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      110 36 A dynamic city A bank renowned for innovation 50 remarkable years in Singapore X X < I te I 4 m ■ki From transport to property to commodities, J.P. Morgan has been at the forefront of many pioneering deals that have helped build today’s Singapore. For 50 years, we’ve enabled
      110 words