PRIME LENDING RATES BreadTalk staying freshbreadtalk.listedcompany.com › misc ›...
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COMPANY MEETINGS COMPANY MEETING PLACE DATE TIME Asian Micro Hldgs E Raffles Marina 10 Tuas West Drive 09-Oct 10.00am GSH Corp E GSH Centre 11 Changi North Way 09-Oct 3.30pm Mirach Energy E Swissotel Merchant Court S’pore Rosewood Room 20 Merchant Rd 09-Oct 10.00am Cacola Furniture A Hotel Re!@Pearl’s Hill Re! Tune & Re! Call Level 2 175A Chin Swee Road 11-Oct 10.00am Oxley Hldgs A Raffles Lounge (Level 2) Raffles Country Club 450 Jalan Ahmad Ibrahim 14-Oct 10.30am Shanghai Asia E Sheraton Towers S'pore Htl 39 Scotts Road Level 3 Turquoise & Onyx Room 14-Oct 10.30am Giken Sakata (S) E Blk 4012 Ang Mo Kio Ave 10 #05-01 Techplace 1 16-Oct 2.00pm Miyoshi Precision E 5 Second Chin Bee Road 16-Oct 10.00am AusGroup Limited A 36 Tuas Road 17-Oct 3.00pm British & Mal Trust A Board Room of British And Malayan Trustees Limited 1 Coleman Street #08-01 The Adelphi 17-Oct 2.30pm Cordlife Grp A Auditorium 302 Level 3 E NTU@one-north Executive Centre 11 Slim Barracks Rise 18-Oct 10.00am (off North Buona Vista Road) 18-Oct 11.00am Ellipsiz Ltd A 29 Woodlands Ind Park E1 Lobby 1 #04-03 NorthTech 18-Oct 9.30am Oakwell Engg E No.8 Aljunied Ave 3 Oakwell Building 18-Oct 3.00pm Armstrong Ind E InterContinental Singapore Ballroom 1 Level 2 80 Middle Road 21-Oct 10.00am Comm Design A Chevrons 48 Boon Lay Way 21-Oct 10.00am Hartawan Hldgs E Hotel Re! @ Pearl's Hill Re!Joice 175A Chin Swee Road 21-Oct 10.00am KTL Global Ltd A 71 Tuas Bay Drive 21-Oct 10.00am ASL Marine Hldgs A Jurong Country Club, 9 Science Centre Road 22-Oct 2.00pm China Kunda Tech E SGX Centre 2 #17-01 4 Shenton Way 22-Oct 9.00am Hai Leck Hldgs A 47 Tuas View Circuit 22-Oct 10.00am E Singapore 22-Oct 10.30am St. James Hldgs A Shanghai Dolly Clarke Quay The Foundry, 3B River Valley Rd #01-01 22-Oct 3.30pm Boardroom Ltd A Seminar Rm CIMB Invest Ctr 23-Oct 9.30am E Ground Floor 50 Raffles Place #01-02 23-Oct 9.45am Lantrovision (S) Ltd A Tanglin 1 & 2 Room Level 1 RELC International Hotel 30 Orange Grove Road 23-Oct 9.30am Tai Sin Electric A Albizia Room Level 2, Jurong Country Club 9 Science Centre Road 23-Oct 10.00am Tiong Woon Corpn A 15 Pandan Crescent 23-Oct 9.00am A: Annual , E: Extraordinary , G: General, S: Special, W: Warrantholders A HOT pink ceiling is not what usually greets the eye when looking up in the boardroom. But the BreadTalk group isn’t your typical company either. Its audacity in defying convention has propelled the firm to promi- nence – the guest-list to the grand opening of its international headquarters last Fri- day read like a who’s who of Singapore so- ciety, from guest of honour Deputy Prime Minister Tharman Shanmugaratnam to chief executives of banks and corpora- tions. The 13-year-old firm also laid for itself a milestone target on Friday: $1 billion in revenue by 2016, and more than 2,000 bakeries, food courts and restaurants by 2018. It made $447.3 million in revenue last year, and currently has about 850 out- lets in 15 countries, The bold ambition puts to shade the ear- lier goal of having 1,000 BreadTalk bakery outlets by 2014, a plan announced just in September last year. Of the 2,000 proposed outlets, 1,800 will be accounted for by the BreadTalk brand alone, said its chairman George Quek in an interview with BT. And China will be a key part of the expansion strate- gy. “China will be the most important place for us to deepen our presence. To reach 2,000 outlets, China alone will have 1,000,” Mr Quek said in Mandarin. The group is now present in 49 cities in the country, with only one to five outlets in some cities. “So we have a lot of room to grow in terms of expansion,” he added. The firm runs Din Tai Fung restau- rants, Carl’s Jr burger outlets and Food Re- public food courts in China, where it first set up shop in 2003. Even so, not all has been smooth sailing there. In its most recent second-quarter re- sults, BreadTalk recorded an impairment loss of $1 million from the closure of three Carl’s Jr stores in Shanghai. Mr Quek explained: “While managing Carl’s Junior in China, we discovered that over there, you have to offer a smaller, low- er value type of breakfast. But Carl’s Jun- ior is about juicy and big burgers.” The slow process of applying to Carl’s Jr in the US to make the necessary changes proved a hassle for the group as it was managing so many other brands at the same time. After discussing with Carl’s Jr, it was agreed that BreadTalk would trim its stake in the franchise from 60 per cent to 40 per cent, and hand over the management and operations of the outlets. “They have put a lot of resources in Chi- na. BreadTalk is unable to focus on Carl’s Jr, hence we gave the control back to them to develop the brand,” said Mr Quek. “Our role (now) is to open the way for them with the relationships we have established in China.” But even as it looks to entrench itself in China, the group is not forgetting its roots. In Singapore itself, another core market for the group, it plans to double its current count of 100 BreadTalk outlets – in sharp contrast to many food and beverage firms which have cited the current manpower crunch to put their expansion plans on hold. To this, Mr Quek said: “I think people have a very strong ability to adapt ... I can’t say that the manpower crunch hasn’t been a problem for us. “It has indeed caused some concern for BreadTalk, but I tell my staff that I don’t want to listen to the problem, I want to solve the problem. The government’s poli- cy on foreign labour is very clear ... This policy won’t change, so we’ll have to adjust to it.” The group has therefore spent $8 mil- lion on machines that can make dough and fold croissant rolls in its central kitchen in the new headquarters. Productivity has in- creased: while five people could make 100 frozen portions of dough in the past, two could make 300 now. Mr Quek reckons that there are also oth- er benefits: “With fewer staff, you have more resources to improve their salary.” Investors seem to like what Mr Quek is doing, as shares have climbed 33.8 per cent so far this year to 91 cents on Friday. The stock hit $1.16 on April 3 amid specu- lation of a possible privatisation. Thai hos- pitality and F&B player Minor Internation- al – which owns the ThaiExpress chain in Singapore – had been raising its stake in the firm progressively since January. It now holds 11 per cent of the stock, making it the third largest shareholder after Mr Quek and his wife. BreadTalk chief financial officer Law- rence Yeo then told BT that both compa- nies had not been in contact. Both have since started discussions, Mr Quek re- vealed. “Minor group has vast resources in Thailand – restaurants, property, F&B brands. So of course they hope for a brand to cooperate with them. We are still explor- ing that possibility with them,” he said. “If Minor group can add value, I don’t rule out the possibility of a joint venture to expand even faster there.” Mr Quek was, however, quick to dispel speculation of a possible takeover. “We fre- quently get a lot of people knocking on the door to ask if we want to sell the company or give up part of our stake. As the majori- ty shareholder and founder, I’ve never thought of selling my stake,” he said une- quivocally. For the next three to five years, the firm will focus on deepening and improving its current brands and to increase efficiency and profit. This, of course, will be under- pinned by its philosophy of staying differ- ent. “If you go to China you’ll see a lot of first generation ‘BreadTalks’. What we do, peo- ple follow. But we can push ourselves to keep learning and moving forward,” said Mr Quek. “They can copy your first or sec- ond generation outlets, but not the newest generation. Every three to four years, we come up with a new concept. So BreadTalk keeps innovating, learning, trying, creat- ing.” [email protected] BANKS % Agricultural Bank Of China . . . . . . . . . . 5.50 ANZ Singapore . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.50 Bangkok Bank Public Co. Ltd . . . . . . 6.00 Bank of China Limited . . . . . . . . . . . . . . . 5.50 Bank of Communications . . . . . . . . . . . 5.50 Bank of East Asia . . . . . . . . . . . . . . . . . . . . . . . . . 5.75 Bank of Singapore . . . . . . . . . . . . . . . . . . . . . . . . 5.50 Bank of Taiwan . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.00 Bank of Tokyo-Mitsubishi UFJ, Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.00 Banque Internationale a Luxembourg . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.00 Barclays Bank PLC . . . . . . . . . . . . . . . . . . . . . . . . 5.50 BNP Paribas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.00 Chang Hwa Commercial Bank . . . . . 5.50 China Construction Bank Corp . . . . 5.25 CIMB Bank Berhad . . . . . . . . . . . . . . . . . . . . . . 5.50 Citibank NA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.50 Credit Agricole Corporate and Investment Bank . . . . . . . . . . . . . . . . . . . . . 5.75 Credit Industriel ET Commercial . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.00 Deutsche Bank AG . . . . . . . . . . . . . . . . . . . . . 5.50 DBS Bank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.25 DNB Bank ASA . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.00 Far Eastern Bank . . . . . . . . . . . . . . . . . . . . . . . . . 5.00 First Commercial Bank . . . . . . . . . . . . . . . . 5.75 Habib Bank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.00 HL Bank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.75 HSBC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.50 HSBC Private Bank (Suisse) SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.50 Hua Nan Comm Bank . . . . . . . . . . . . . . . . . 5.50 Indian Bank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.50 Indian Overseas Bank . . . . . . . . . . . . . . . . 5.50 Industrial & Commercial Bank of China . . . . . . . . . . . . . . . . . . . . . . . . 5.00 JP Morgan Chase Bank, N.A. . . . . . 6.00 Korea Exchange Bank . . . . . . . . . . . . . . . . . 5.75 KBC Bank N.V. . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.50 Land Bank of Taiwan . . . . . . . . . . . . . . . . . . 6.00 Landesbank Baden-Wuerttemberg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.00 Lloyds TSB Bank Plc . . . . . . . . . . . . . . . . . . . 6.25 Maybank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.25 Mega Inter'l Commercial Bank Co Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.25 Mitsubishi UFJ Trust & Banking Corp, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.00 Mizuho Corporate Bank Ltd . . . . . . . 6.00 Natixis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.00 Norinchukin Bank, The . . . . . . . . . . . . . . . . 6.00 Nordea Bank Finland PLC . . . . . . . . . . . 6.00 OCBC Bank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00 Philippine Nat Bank . . . . . . . . . . . . . . . . . . . 6.75 PT Bank Negara Indonesia (Persero) TBK . . . . . . . . . . . . . . . . . . . . . . . . . . 6.00 PT Bank Mandiri (Persero) Tbk . . . . . . . . . . . . . . . . . . . . . . . . . . 6.00 Rabobank International . . . . . . . . . . . . . . . . 5.25 Raiffeisen Bank International AG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.00 RHB Bank Berhad . . . . . . . . . . . . . . . . . . . . . . . . 5.70 Royal Bank of Canada . . . . . . . . . . . . . . . 4.75 Royal Bank of Scotland plc . . . . . . . . . 5.50 Skandinaviska Enskilda Banken . . . 5.75 State Bank of India . . . . . . . . . . . . . . . . . . . . 6.00 Standard Chartered Bank . . . . . . . . . . . . . 5.75 Sumitomo Mitsui Bk Corp . . . . . . . . . . . . 6.00 Sumitomo Mitsui Trust Bank Limited Singapore Branch . . . . . . . . . . . . . . . . . . . . . . . . . 6.00 Svenska Handelsbanken . . . . . . . . . . . . . . 6.00 The Siam Comm Bank P Co Ltd . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.00 UCO Bank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.00 United Overseas Bank Ltd . . . . . . . . . 5.00 Woori Bank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.25 Source: The Association of Banks in Singapore FINANCE COMPANIES Hong Leong Fin (PLR) . . . . . . . . . . . . . . . . 6.88 Hong Leong Fin (EBR) . . . . . . . . . . . . . . . . 4.75 S'pura Fin (BLR) . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.63 Sing Inv & Fin (PLR) . . . . . . . . . . . . . . . . . . . . 5.38 EBR: Enterprise Base Rate BLR: Base Lending Rate China will be a key part of its expansion strategy, chairman George Quek tells ANDREA SOH Mr Quek: ‘They can copy your first or second generation outlets, but not the newest generation. Every three to four years, we come up with a new concept.’ FILE PHOTO PRIME LENDING RATES Oct 4 CEO SPEAKS BreadTalk staying fresh to maintain edge The Business Times, Monday, October 7, 2013 COMPANY NEWS 9
Transcript of PRIME LENDING RATES BreadTalk staying freshbreadtalk.listedcompany.com › misc ›...
COMPANY MEETINGSCOMPANY MEETING PLACE DATE TIME
Asian Micro Hldgs E Raffles Marina 10 Tuas West Drive 09-Oct 10.00am
GSH Corp E GSH Centre 11 Changi North Way 09-Oct 3.30pm
Mirach Energy E Swissotel Merchant Court S’poreRosewood Room 20 Merchant Rd 09-Oct 10.00am
Cacola Furniture A Hotel Re!@Pearl’s Hill Re! Tune & Re!Call Level 2 175A Chin Swee Road 11-Oct 10.00am
Oxley Hldgs A Raffles Lounge (Level 2)Raffles Country Club450 Jalan Ahmad Ibrahim 14-Oct 10.30am
Shanghai Asia E Sheraton Towers S'pore Htl39 Scotts Road Level 3Turquoise & Onyx Room 14-Oct 10.30am
Giken Sakata (S) E Blk 4012 Ang Mo Kio Ave 10#05-01 Techplace 1 16-Oct 2.00pm
Miyoshi Precision E 5 Second Chin Bee Road 16-Oct 10.00am
AusGroup Limited A 36 Tuas Road 17-Oct 3.00pm
British & Mal Trust A Board Room of British And MalayanTrustees Limited 1 Coleman Street#08-01 The Adelphi 17-Oct 2.30pm
Cordlife Grp A Auditorium 302 Level 3E NTU@one-north Executive Centre
11 Slim Barracks Rise 18-Oct 10.00am(off North Buona Vista Road) 18-Oct 11.00am
Ellipsiz Ltd A 29 Woodlands Ind Park E1Lobby 1 #04-03 NorthTech 18-Oct 9.30am
Oakwell Engg E No.8 Aljunied Ave 3 Oakwell Building 18-Oct 3.00pm
Armstrong Ind E InterContinental SingaporeBallroom 1 Level 2 80 Middle Road 21-Oct 10.00am
Comm Design A Chevrons 48 Boon Lay Way 21-Oct 10.00am
Hartawan Hldgs E Hotel Re! @ Pearl's Hill Re!Joice175A Chin Swee Road 21-Oct 10.00am
KTL Global Ltd A 71 Tuas Bay Drive 21-Oct 10.00am
ASL Marine Hldgs A Jurong Country Club, 9 Science Centre Road 22-Oct 2.00pm
China Kunda Tech E SGX Centre 2 #17-01 4 Shenton Way 22-Oct 9.00am
Hai Leck Hldgs A 47 Tuas View Circuit 22-Oct 10.00amE Singapore 22-Oct 10.30am
St. James Hldgs A Shanghai Dolly Clarke QuayThe Foundry, 3B River Valley Rd #01-01 22-Oct 3.30pm
Boardroom Ltd A Seminar Rm CIMB Invest Ctr 23-Oct 9.30amE Ground Floor 50 Raffles Place #01-02 23-Oct 9.45am
Lantrovision (S) Ltd A Tanglin 1 & 2 Room Level 1RELC International Hotel30 Orange Grove Road 23-Oct 9.30am
Tai Sin Electric A Albizia Room Level 2, Jurong Country Club9 Science Centre Road 23-Oct 10.00am
Tiong Woon Corpn A 15 Pandan Crescent 23-Oct 9.00am
A: Annual , E: Extraordinary , G: General, S: Special, W: Warrantholders
AHOT pink ceiling is notwhat usually greets theeye when looking up inthe boardroom.
But the BreadTalkgroup isn’t your typicalcompany either.
Its audacity in defyingconvention has propelled the firm to promi-nence – the guest-list to the grand openingof its international headquarters last Fri-day read like a who’s who of Singapore so-ciety, from guest of honour Deputy PrimeMinister Tharman Shanmugaratnam tochief executives of banks and corpora-tions.
The 13-year-old firm also laid for itselfa milestone target on Friday: $1 billion inrevenue by 2016, and more than 2,000bakeries, food courts and restaurants by2018. It made $447.3 million in revenuelast year, and currently has about 850 out-lets in 15 countries,
The bold ambition puts to shade the ear-lier goal of having 1,000 BreadTalk bakeryoutlets by 2014, a plan announced just inSeptember last year.
Of the 2,000 proposed outlets, 1,800will be accounted for by the BreadTalkbrand alone, said its chairman GeorgeQuek in an interview with BT. And Chinawill be a key part of the expansion strate-gy. “China will be the most importantplace for us to deepen our presence. Toreach 2,000 outlets, China alone will have1,000,” Mr Quek said in Mandarin.
The group is now present in 49 cities inthe country, with only one to five outlets insome cities. “So we have a lot of room togrow in terms of expansion,” he added.
The firm runs Din Tai Fung restau-rants, Carl’s Jr burger outlets and Food Re-public food courts in China, where it firstset up shop in 2003.
Even so, not all has been smooth sailingthere. In its most recent second-quarter re-sults, BreadTalk recorded an impairmentloss of $1 million from the closure of threeCarl’s Jr stores in Shanghai.
Mr Quek explained: “While managingCarl’s Junior in China, we discovered that
over there, you have to offer a smaller, low-er value type of breakfast. But Carl’s Jun-ior is about juicy and big burgers.”
The slow process of applying to Carl’sJr in the US to make the necessary changesproved a hassle for the group as it wasmanaging so many other brands at thesame time.
After discussing with Carl’s Jr, it wasagreed that BreadTalk would trim its stakein the franchise from 60 per cent to 40 percent, and hand over the management andoperations of the outlets.
“They have put a lot of resources in Chi-na. BreadTalk is unable to focus on Carl’sJr, hence we gave the control back to themto develop the brand,” said Mr Quek. “Ourrole (now) is to open the way for them withthe relationships we have established inChina.”
But even as it looks to entrench itself inChina, the group is not forgetting its roots.
In Singapore itself, another core marketfor the group, it plans to double its current
count of 100 BreadTalk outlets – in sharpcontrast to many food and beverage firmswhich have cited the current manpowercrunch to put their expansion plans onhold.
To this, Mr Quek said: “I think peoplehave a very strong ability to adapt ... Ican’t say that the manpower crunch hasn’tbeen a problem for us.
“It has indeed caused some concern forBreadTalk, but I tell my staff that I don’twant to listen to the problem, I want tosolve the problem. The government’s poli-cy on foreign labour is very clear ... Thispolicy won’t change, so we’ll have to adjustto it.”
The group has therefore spent $8 mil-lion on machines that can make dough andfold croissant rolls in its central kitchen inthe new headquarters. Productivity has in-creased: while five people could make 100frozen portions of dough in the past, twocould make 300 now.
Mr Quek reckons that there are also oth-
er benefits: “With fewer staff, you havemore resources to improve their salary.”
Investors seem to like what Mr Quek isdoing, as shares have climbed 33.8 percent so far this year to 91 cents on Friday.The stock hit $1.16 on April 3 amid specu-lation of a possible privatisation. Thai hos-pitality and F&B player Minor Internation-al – which owns the ThaiExpress chain inSingapore – had been raising its stake inthe firm progressively since January. Itnow holds 11 per cent of the stock, makingit the third largest shareholder after MrQuek and his wife.
BreadTalk chief financial officer Law-rence Yeo then told BT that both compa-nies had not been in contact. Both havesince started discussions, Mr Quek re-vealed.
“Minor group has vast resources inThailand – restaurants, property, F&Bbrands. So of course they hope for a brandto cooperate with them. We are still explor-ing that possibility with them,” he said. “IfMinor group can add value, I don’t rule outthe possibility of a joint venture to expandeven faster there.”
Mr Quek was, however, quick to dispelspeculation of a possible takeover. “We fre-quently get a lot of people knocking on thedoor to ask if we want to sell the companyor give up part of our stake. As the majori-ty shareholder and founder, I’ve neverthought of selling my stake,” he said une-quivocally.
For the next three to five years, the firmwill focus on deepening and improving itscurrent brands and to increase efficiencyand profit. This, of course, will be under-pinned by its philosophy of staying differ-ent.
“If you go to China you’ll see a lot of firstgeneration ‘BreadTalks’. What we do, peo-ple follow. But we can push ourselves tokeep learning and moving forward,” saidMr Quek. “They can copy your first or sec-ond generation outlets, but not the newestgeneration. Every three to four years, wecome up with a new concept. So BreadTalkkeeps innovating, learning, trying, creat-ing.”[email protected]
BANKS %
Agricultural Bank Of China .......... 5.50ANZ Singapore ........................... 5.50Bangkok Bank Public Co. Ltd ...... 6.00Bank of China Limited ............... 5.50Bank of Communications ........... 5.50Bank of East Asia ......................... 5.75Bank of Singapore ........................ 5.50Bank of Taiwan ........................... 6.00Bank of Tokyo-Mitsubishi
UFJ, Ltd .................................. 6.00Banque Internationale a
Luxembourg ........................... 6.00Barclays Bank PLC ........................ 5.50BNP Paribas ................................. 6.00Chang Hwa Commercial Bank ..... 5.50China Construction Bank Corp .... 5.25CIMB Bank Berhad ...................... 5.50Citibank NA ................................. 5.50Credit Agricole Corporate and
Investment Bank ..................... 5.75Credit Industriel ET
Commercial ............................ 6.00Deutsche Bank AG ..................... 5.50DBS Bank ..................................... 4.25DNB Bank ASA ............................ 6.00Far Eastern Bank ......................... 5.00First Commercial Bank ................ 5.75Habib Bank ................................. 6.00HL Bank ...................................... 5.75HSBC .......................................... 5.50HSBC Private Bank
(Suisse) SA ............................... 5.50Hua Nan Comm Bank ................. 5.50Indian Bank ................................ 5.50Indian Overseas Bank ................ 5.50Industrial & Commercial
Bank of China ........................ 5.00JP Morgan Chase Bank, N.A. ..... 6.00Korea Exchange Bank ................. 5.75KBC Bank N.V. ........................... 5.50Land Bank of Taiwan .................. 6.00Landesbank Baden-Wuerttemberg
.................................................... 6.00
Lloyds TSB Bank Plc ................... 6.25Maybank .................................... 5.25Mega Inter'l Commercial Bank
Co Ltd .................................... 5.25Mitsubishi UFJ Trust & Banking
Corp, ...................................... 6.00Mizuho Corporate Bank Ltd ....... 6.00Natixis ........................................ 6.00Norinchukin Bank, The ................ 6.00Nordea Bank Finland PLC ........... 6.00OCBC Bank ................................ 5.00Philippine Nat Bank ................... 6.75PT Bank Negara Indonesia
(Persero) TBK .......................... 6.00PT Bank Mandiri
(Persero) Tbk .......................... 6.00Rabobank International ................ 5.25Raiffeisen Bank International
AG ........................................... 6.00RHB Bank Berhad ........................ 5.70Royal Bank of Canada ............... 4.75Royal Bank of Scotland plc ......... 5.50Skandinaviska Enskilda Banken ... 5.75State Bank of India .................... 6.00Standard Chartered Bank ............. 5.75Sumitomo Mitsui Bk Corp ............ 6.00Sumitomo Mitsui Trust Bank LimitedSingapore Branch ......................... 6.00Svenska Handelsbanken .............. 6.00The Siam Comm Bank
P Co Ltd .................................. 6.00UCO Bank .................................. 6.00United Overseas Bank Ltd ......... 5.00Woori Bank ................................. 8.25
Source: The Association of Banksin Singapore
FINANCE COMPANIES
Hong Leong Fin (PLR) ................ 6.88Hong Leong Fin (EBR) ................ 4.75S'pura Fin (BLR) ........................... 6.63Sing Inv & Fin (PLR) .................... 5.38EBR: Enterprise Base RateBLR: Base Lending Rate
China will be a key part of its expansion strategy, chairman George Quek tells ANDREA SOH
Mr Quek: ‘They can copy your first or second generation outlets, but not the newestgeneration. Every three to four years, we come up with a new concept.’ FILE PHOTO
PRIME LENDING RATES Oct 4CEO SPEAKS
BreadTalk staying freshto maintain edge
The Business Times, Monday, October 7, 2013 COMPANY NEWS 9
