The Business Times, 29 October 2014

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Total Pages: 30
1 30 The Business Times
  • 28 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G Z ©BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 ICA (P) Wednesday, October 8, 2014 29
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  • 27 1 Tuesday Change STI 3,211.65 -14.46 KL COMP 1,825.68 +2.53 NIKKEI 225 15,329.91 -58.81 HANG SENG 23,520.36 +377.13 SHENZHEN B 968.55 +9.60 DOW (noon EDT) 16,864.30 +46.36
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  • Article, Illustration
    225 1 While Singapore wants to help its people earn more, wages cannot go up indefinitely and it is the country’s productivity that must improve over the longer term, says Prime Minister Lee Hsien Loong. TOP STORIES 2 The chief source of Singapore’s inflation will remain the tight labour market
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  • 798 1  -  GDP and productivity growth to remain constrained; core inflation to stay above historical average By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore THE Monetary Authority of Singapore (MAS) has presented a sobering prognosis of the Singapore economy GDP expansion will continue to be muted, productivity growth
    Source: The Conference Board Total Economy Database and Economic Policy Group, MAS estimates; Source: Ministry of Trade and Industry  -  798 words
  • 625 1  -  By Chuang Peck Ming peckming@sph.com.sg Singapore THE Hour Glass (THG) has paid S$ 13.3 million cash for Watches of Switzerland (WOS), extending the listed luxury watch group’s reach from Orchard Road to less prime shopping malls outside the city. The acquisition
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  • Page 1 Advertisements
    • 110 1 *****4 OCBC CYCLE BIG DATA Media’s blockbuster business tool LAND SALE OCBC names organiser of 2015 cycling event LIFE CULTURE 27 OPINION 25 URA releases Paya Lebar Central site on confirmed list CAR SALES Parallel car imports accelerate, thanks to Japanese models TRANSPORT 20 REAL ESTATE 12 Deutsche Bank db.com
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  • TOP STORIES
    • 724 2  -  ways to boost productivity include educating the population well, providing good training for workers and bringing in sunrise businesses By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore WHILE Singapore wants to help its people earn more, wages cannot go up indefinitely and it is the
      PHOTO: NG SOR LUAN/THE STRAITS TIMES  -  724 words
    • 555 2  -  SINGAPORE ENERGY By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore SINGAPORE will not waver in its commitment to invest in renewable energy in spite of falling oil prices. “Our investment into R&D in renewables is not a response to the price of
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    • 483 2  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore SINGAPORE is building the region’s first micro-grid to integrate multiple renewable energy sources as it scales up its expertise beyond solar power to become a clean energy hub in South-east Asia. As the first public micro-grid in the
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    • 82 2 What do you expect to happen to your bonus this year compared to last year? sxpect to happen SG US UK Increase 42 60 56 No change from last year 36 26 27 Decrease 22 14 17 If you are expecting an increase, how much more are
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    • 553 2  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore IT WILL still be a merry Christmas for bankers, but perhaps with less bubbly. Seven out of 10 the same as last year are expecting a bonus but more are being realistic about the payouts, according to
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    • 669 4  -  But impact on consumer prices uneven across sectors: MAS MAS REVIEW By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT Singapore THE chief source of Singapore’s inflation will remain the tight labour market and how it is pushing wages up, but not all sectors will be
      Source: October 2014 Macroeconomic Review, MAS  -  669 words
    • 362 4  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore PROPERTY prices in Singapore have not seen a “meaningful correction” yet, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Tuesday. “We have seen some correction in both private property prices and HDB resale prices over
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    • 532 4  -  By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT Singapore SINGAPORE’S manufacturers are grappling with an uneven recovery in external demand and falling global prices for certain goods on one hand, and domestic labour constraints on the other. But the good news is that for two decades
      Source: Economic Policy Group, MAS estimates; Source: October 2014, MAS Macroeconomic Review  -  532 words
    • 480 5  -  Construction works will begin by year-end and the project is expected to be completed by end-2018 By NISHA RAMCHANDANI nishar@sph.com.sg @Nisha_BT Singapore A JOINT venture of local construction firm Woh Hup and Obayashi Singapore has won the S$1.57 billion contract for the
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    • 706 5  -  MANAGING DEBT By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore A BORROWER mired in debt here would have taken up nearly S$80,000 in loans or some 28 months of his salary from seven creditors. He would probably stand hunched among the 3 per cent of unse-cured-credit
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    • 380 5  - CCS from unpopular entity to key negotiator By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore IN celebrating its 10th birthday on Tuesday, Credit Counselling Singapore shows again just how relevant it is to the banking industry here. Speaking at its anniversary luncheon, CCS president Kuo How Nam said that the non-profit organisation,
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  • Page 2 Advertisements
    • 134 2 THE HEAD FOUNDATION PUBLIC LECTURE SERIES ‘Developing Globally Responsible Leaders Learnings from China and Singapore’ with PROFESSOR HENRI-CLAUDE DE BETTIGNIES PROFESSOR (EMERITUS), INSEAD DISTINGUISHED PROFESSOR (EMERITUS), CEIBS VISITING PROFESSOR, STANFORD UNIVERSITY The world increasingly needs globally responsible leaders. Can ethical leadership be cultivated through higher education? What are some learnings
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  • Page 4 Advertisements
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  • Page 5 Advertisements
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  • COMPANIES & MARKETS
    • 624 6  -  Distribution per stapled security is 2.61 Singapore cents, down from 2.64 Singapore cents in Q3 ’13 By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore MAINBOARD-LISTED CDL Hospitality Trusts (CDLHT) posted a slightly lower income available for distribution per stapled security after deducting income retained for
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    • 383 6  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore FRASERS Centrepoint Limited (FCL) on Tuesday said it will hold an extraordinary general meeting on Nov 12 to seek shareholders’ approval on two counts. The first is to obtain their retroactive approval of the company’s
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    • 568 6  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore AFTER 22 consecutive quarters of record profits, the fine run of lifestyle products company OSIM International came to an end in the three months ended Sept 30, 2014. Net profit fell 28 per cent to S$16.4 million,
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    • 693 8  -  Board chiefs lament ‘events that altered things considerably’ after FY2013 By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore WHIPLASHED since last October’s penny stock crash and hemmed in by an ongoing probe by Singapore’s white-collar crime buster, beleaguered LionGold filed its delayed
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    • 509 8  -  By Joyce Hooi joyceh@sph.com.sg @JoyceHooiBT Singapore HIGHER revenue and a better margin drove Sheng Siong Group’s net profit 15.4 per cent higher in the third quarter, to S$12.2 million, it reported on Tuesday. Revenue for the same period gained 4.8 per
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    • 352 8  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore SEMICONDUCTOR packaging and test services provider STATS ChipPAC posted a net loss of US$5.29 million for the third quarter ended Sept 28, sinking into the red from a net profit of US$13.3 millionayearago. Revenue edged up marginally
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    • 458 8  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore WING Tai Holdings on Tuesday reported a 28 per cent drop in revenue to S$160.1 million for its first quarter ended Sept 30, 2014. Consequently, net profit dipped one per cent to S$24.2 million, while earnings
      FILE PHOTO  -  458 words
    • 413 9  -  It will be the first Asia-Pacific telco to provide cloud operating system network in the region By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore SINGAPORE Telecommunications (SingTel) has partnered Microsoft to offer a new cloud operating system network (COSN) to its customers in the
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    • 366 9  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore DBS Bank (China) has completed its first RMB/SGD spot deal as an official RMB/SGD market maker. The deal is also the first RMB/SGD deal in China’s interbank market since the launch of
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    • 288 9  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore THE Royal Bank of Scotland plc has hired Colin Holdstock and Glen Goh to head its Asia-Pacific markets business, both based in Singapore, it said on Tuesday. Mr Holdstock joins as managing director and has an expanded
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    • 164 9 BLOOMBERG Singapore KRISENERGY Ltd expects sales to grow “considerably” next year as the energy-exploration company quadruples oil and gas output in South-east Asia. The Singapore-based KrisEnergy projects its production to almost double to the equivalent of 15,000 barrels a day in 2015,
      BLOOMBERG  -  164 words
    • Article, Illustration
      63 10 STI Catalist Straits Times Index Oct 28,2014 3,211.65 -14.46 (-0.45%) Current streak 1 day Day high 3,221.08 Day low 2,860.16 52-week high 3,374.06 (July 31, 2014) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist index Oct 28,2014 777.37 -6.56 (-0.84%) Current streak 2 days Day high 784.47 Day low
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    • 654 10  -  Sell-off in Noble and drops in UOB, OCBC, Keppel drag down STI; volume is a mediocre 1.2 billion units worth S$1 billion TT STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THE Straits Times index (STI) on Tuesday dropped 14.46 points to 3,211.65, dragged down
      Source: Bloomberg  -  654 words
    • 309 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 231 cd -1 234/231 250 206 6.2 5836.7 CapitaLand 313 -1 315/313 348 268 15.7 2.6 *****.3 CapitaMall Trust 194.5 xd -0.5 196.5/194 209 180 5.3 6744.4 CityDev 955 -25 984/954 1118
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    • 35 10 STI FTSE ST All-Share FTSE ST All-Share index Oct 28,2014 777.89 -2.91 (-0.37%) Current streak 1 day Day high 779.81 Day low 776.76 52-week high 819.39 (July 31, 2014) 52-week low 722.35 (Feb 5, 2014)
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    • 33 10 STI MSCI EAFE MSCI EAFE Index Oct 27,2014 1,781.35 +2.73 (+0.15%) Current streak 7 days Day high 1,795.83 Day low 1,772.63 52-week high 1,995.49 (July 3, 2014) 52-week low 1,714.64 (Oct 16, 2014)
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    • 186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 6 5 0 0 0 4 6 5 Manufacturing 25 58 45 9 6 9 34 64 54 Commerce 12 26 15 4 7 1 16 33 16 Tpt/Stor/Comms 15 14 10
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    • 76 10 BY CENTS CLOSE UP 52w high/low IS S&P500 US$ ***** 332.4 1.4 *****/***** SPDR DJIA US$ ***** 107.0 0.5 *****/***** Lyxor ThaiSET US$ ***** 100.6 0.6 *****/***** DBXT China50 US$ 3113 86.6 2.2 3367/2577 DBXT AUDCS US$ ***** 84.1 0.3 *****/***** BY PERCENTAGE CLOSE UP 52w high/low NobleGrpMBePW*****5 7.3
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    • 74 10 BY CENTS CLOSE DOWN 52w high/low Lyxor Idonesia US$ 8795 -154.1 -1.4 9636/6957 DBXT Nifty US$ ***** -59.9 -0.4 *****/9759 DBXT E50 US$ 4786 -57.3 -0.9 5630/4637 JSH USD 3495 -39.5 -0.9 3810/3006 Jardine C&C 3944 -28.0 -0.7 4901/3330 BY PERCENTAGE CLOSE DOWN 52w high/low CEFC Intl 1.6 -38.5
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    • 80 10 VOL CLOSE($) CHANGE HuanHsin 36,713.0 0.031 +0.006 +24.00 Goodland 142.0 0.265 -0.040 -13.12 Sinostar Pec 250.0 0.055 -0.010 -15.39 LifeBrandz 5,430.0 0.004 -0.001 -20.00 Tigerair 7,234.0 0.325 +0.040 +14.04 China Oilfield 466.0 0.021 +0.004 +23.53 Pacific Hc 210.0 0.038 -0.002 -5.00 Sino Grandness 16,706.0 0.405 -0.045 -10.00 China
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    • BROKERS’ TAKE
      • 109 10 Hold Oct 28 close: S$1.61 Target price: S$1.58 OCBC Investment Research, Oct 28 CRCT Q3 2014 distribution per unit (DPU) grew by 10.4 per cent year on year to 2.35 Singapore cents, on the back of a 30.2 per cent jump in gross revenue to S$51.4 million.
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      • 94 10 Buy Oct 28 close: S$0.505 Target price: S$0.50 dmg and Partners, Oct 28 ISOTeam is acquiring four local companies in a cash and equity deal for s$11 million. The acquisition should enable it to expand its current suite of services, complementing its core repairs and redecoration and addition and
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      • 153 10  -  Compiled by Andrea Soh Buy Oct 28 close: S$3.88 Target price: S$4.50 OCBC Investment Research, Oct 27 RMG’s Q3 2014 and nine-month core earnings per share were in line with our expectations. while foreign patient load recorded single-digit growth, the rupiah weakness was instrumental to the decline
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      • 39 10 DATA I 2.00 am US Federal Open Market Committee Meeting I 9.45 am China Westpac-MNI Consumer Sentiment I 10.00 am China Economic Survey I 7.00 pm US MBA Mortgage Applications I 10.30 pm US EIA Petroleum Status Report
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    • 34 10 VOLUME IHC 71,061,000 Armarda 55,512,000 Noble 50,173,000 APAC Strategic 46,589,000 Huan Hsin 36,713,000 Market volume 1,414,270,000 VALUE UOB 111,218,053 Keppel Corp 105,152,230 SingTel 81,696,345 Noble 59,044,580 DBS Grp 45,208,588 Market value 1,017,646,000
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    • 107 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 326 -1 77 327/326 343/298 326/327 Lyxor HSI US$ US298 +5 23 298/292 320/259 296/299 25.9 IS MS India US$ US736 -5 21 742/733 779/541 736/740 92 DBXT MSBrazil US$ US423 -12 19 423/418
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    • 77 10 Oct 28 VALUE CLOSE BT OB/OS -360.00 +194.00 BT CADI -*****.00 -99.00 BT 10-day MA -*****.00 -36.00 FTSE ST Mid Cap 744.49 -1.09 FTSE ST Small Cap 513.09 -0.28 FTSE ST All Share 777.89 -2.91 FTSE ST China Top 186.74 -0.14 FTSE ST China 222.16 -0.69 FTSE
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    • 119 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 22,003 22,003 122,653 122,653 Manufacturing 203,292 58,329 261,621 90,492 4,658 95,150 Commerce 89,230 29,598 118,828 93,352 1,596 94,948 Tpt/Stor/Comms 108,368 2,504 110,872 154,979 448 155,426 Finance 44,704 100 44,804 196,349 21 196,369 Construction 13,654 7,170
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    • 406 11 TT CURRENCIES AFP Tokyo THE US dollar held steady in Asia on Tuesday before the US Federal Reserve starts a two-day policy meeting that is expected to see it wind up its six-year-old stimulus programme. The greenback edged up to 107.86 yen in
      AFP  -  406 words
    • FOREX RATES
      • 471 11 Oct 28 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.992 5.399 0.695 6.850 54.155 107.688 0.952 9.265 2.892 1.117 90.985 39.541 1.125 9.663 0.838 26.841 28.655 0.548 0.883 Canada 1.008 5.441
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      • 155 11 Oct 28 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1245 1.1250 0.8829 0.8832 Canadian dollar 1.1333 1.1340 0.8902 0.8898 Euro 1.6191 1.6198 1.2712 1.2716 NZ dollar 1.0062 1.0071 0.7900 0.7906 Sterling pound 2.0532 2.0539 1.6120 1.6124
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      • 22 11 Oct 28 S$ Bid Offer 1-month 1.2737 1.2738 2-months 1.2737 1.2738 3-months 1.2737 1.2739 6-months 1.2736 1.2738 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • 216 11 Most active Oct 28 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****6 9.3 0.3 8907 0.2 1880 3 OLS Enterprise W*****5 0.3 unch 6000 1 1 30 3.33 34 KepCorp MB eCW*****1 8.3 -1.1 3875 0.2
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      • 373 11 In local curr In S$ In US$ dy yr dy yr dy yr Oct 27 Index Change Change Change Change Change Change World Preliminary 1213.3 -0.3 2.4 -0.3 1.2 -0.2 0.2 EAFE Preliminary 933.6 -0.1 -2.4 0.1 -6.1 0.2 -7.0 Europe Preliminary 1318.3 -0.6 -2.7
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      • 374 11 Oct 28 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.28 *****.46 *****.36 Dec14 *****.00 *****.00 *****.00 *****.00 ***** *****9 Mar15 *****.00 *****.00 *****.00 *****.00 11 841 MSCI TAIWAN INDEX FUTURES SPOT 324.53 327.12 324.53 Oct14 322.90 327.50 321.20 327.10 *****1 *****7 Nov14 322.70
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    • BANK RATES
      • 154 11 Oct 28 $S Offer Bid 0vernight 0.01 0.00 1-month 0.4375 0.3125 2-months 0.4375 0.3125 3-months 0.4375 0.3125 Overnight mode: 0.08 US$ 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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      • 36 11 Oct 28 (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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      • 61 11 Oct 28 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 106.1 5-Year N*****0H 1.625 01-Oct-19 100.87 100.95 100.85 10-Year NY*****H 3.000 01-Sep-24 106.45 15-Year NY*****E 2.875 01-Jul-29 102.42 102.55 102.55 20-Year NZ*****V 3.375 01-Sep-33 108.23 30-Year NA*****N 2.750 01-Apr-42
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    • AGRI METALS ENERGY
      • 212 11 Oct-27 Price Net change change Last Trade Agricultural Oct-27 CBOT Soybeans (US cents/bu) 1006.00 28.50 2.92% 14/11/2014 CBOT Soybean Oil (US cents/lb) 32.23 -0.16 -0.49% 12/12/2014 CBOT Wheat (US cents/bu) 522.75 5.00 0.97% 12/12/2014 Oct-27 LIFFE Cocoa (£/tonne) 1933.00 -51.00 -2.57% 12/12/2014 LIFFE Coffee (US$/tonne) 2012.00 -15.00 -0.74%
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      • 57 11 OCt 28 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Nov 14 2190.0 2222.0 2225.0 2189.0 1124 3963 Dec 14 2180.0 2218.0 2220.0 2178.0 8972 ***** Jan 15 2174.0 2213.0 2216.0 2171.0 ***** ***** Feb 15 2171.0 2212.0
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  • Page 6 Advertisements
    • 83 6 WINNER CNBC TRAVEL BUSINESS LEADER AWARD 2014 CNBC is proud to recognize Mr. Stephen Ho for demonstrating leadership excellence within the travel and tourism industry. Congratulations! Mr. Stephen Ho President, Asia Pacific Starwood Hotels Resorts Worldwide ■if, f T BLM TRAVEL BUSINESS LEADER AWARD ASIA PACIFIC PRESENTED AT TRAVE^AVE KNOWLEDGE
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  • Page 8 Advertisements
    • 216 8 Singapore Capital Expo and Small Cap Showcase 2014 INTRODUCTION Discover Leading and Innovative Growth Companies FREE ADMISSION ShareInvestor, The Business Times Wholesale Investor will bring together up to 1,000 high net worth, accredited, professional and international investors, executives, brokers, fund managers, media and industry participants for the first Singapore Capital
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    • 7 8 awards 2014 Seriously Man msmmm MAN blog.omy.sg/sgblogawards
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  • Page 9 Advertisements
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  • REAL ESTATE
    • 1128 12  -  Wide range in forecasts: 3 to 8 bids expected with top price anywhere from S$700 to S$1,000 psf ppr By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore THE Urban Redevelopment Authority has finally released a much anticipated, big-ticket mixed development
      Source: URA  -  1,128 words
    • 660 12  -  539 of the new homes under the project’s Phase 3 will be showcased in S’pore By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore EXHIBITIONS in 11 countries to market the Battersea Power Station project the conversion of a large, derelict power station in central London
      PHOTO: BATTERSEA POWER STATION  -  660 words
    • 363 12  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore SURBANA International Consultants hopes to work with the Dalian New Airport Coastal Business District on various projects for a new 140-sq-km airport coastal business district to be built in the northern area of Dalian city, Liaoning
      PHOTO: SURBANA  -  363 words
    • 179 12  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore JTC on Tuesday launched for tender two confirmed list sites at Tuas South Street 9 (Plot 52) and Tanjong Penjuru, as well as a reserve list site at Tuas South Street 7 (Plot
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    • 1174 13 Intellectual property, an area Singapore aims to dominate, should not be limited to law and lawyers, says top practitioner David Llewelyn A Special Feature Brought to You By Singapore Management University IF intellectual property (IP) expert David Llewelyn has one message for businesses, it is this: intellectual
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  • Page 13 Advertisements
    • 120 13 School of Law SMU Juris Doctor Programme A STRONG CASE FOR ASPIRING LAWYERS SMU is the only Singapore university to offer the Juris Doctor (J.D.) Programme a graduate programme that leads to a first degree in law. It is open to persons with an undergraduate degree in any discipline or
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  • BANKING & FINANCE
    • 557 14 Unit aims to increase revenue by 20 per cent next year BLOOMBERG Singapore DEUTSCHE Bank AG’s Asia-Pacific wealth-management business aims to increase revenue by 20 per cent in 2015 by targeting the region’s richest people. The bank will seek new clients and try to
      BLOOMBERG  -  557 words
    • 351 14 REUTERS Hong Kong STANDARD Chartered Plc said operating profit for the third quarter dropped 16 per cent and earnings would fall in the second half as a whole, hurt by a jump in bad loans and higher regulation and compliance costs. The
      REUTERS  -  351 words
    • 368 14 BLOOMBERG Zurich UBS AG, Switzerland’s biggest bank, posted a small-er-than-estimated gain in third-quarter profit after setting aside 1.84 billion Swiss francs (S$2.47 billion) for legal costs as it prepares to settle probes into alleged currency rigging. Net income rose to 762 million
      BLOOMBERG  -  368 words
  • Page 14 Advertisements
    • 418 14 THE STRAITS TIMES 2015 AND THE PROMISE OF AN ASIAN RESURGENCE n OUTLOOK POLITICAL AND ECONOMIC DIRECTION FOR 2015 Presented by As 2014 starts winding down, it is time to look at what is to come in the New Year. With strong leaders emerging in Asia’s biggest economies China, Japan,
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    • 15 14 Govtto takeback 62plots offarmland in Lim ChuKang To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • ENERGY & COMMODITIES
    • 1032 15 They reassure investors they still have the means to return ample profits BLOOMBERG Chicago US ENERGY companies are shrugging off a 24 per cent plunge in oil prices, confident they can adapt and still make money. Amid predictions that the biggest drop
      BLOOMBERG  -  1,032 words
    • 346 15 BLOOMBERG Paris THE risk of blackouts in Europe will grow in the coming winter as thermal power-generating capacity has been shuttered amid the region’s economic slump and a greater reliance on renewables, a study warned. “Security of supply is threatened
      BLOOMBERG  -  346 words
    • 270 15 Pictet-Absl Rtn Fxd Inc-HP EUR 23/10/2014 EUR 103,87 Pictet-Absl Rtn Glo Div-P EUR 23/10/2014 EUR 116,13 Pictet-Asian Equities Ex Japan-P USD 24/10/2014 USD 190,27 Pictet-Asian Local Currency Debt-P USD 24/10/2014 USD 148,86 Pictet-Biotech-P USD 23/10/2014 USD 634,28 Pictet-Clean Energy-P USD 23/10/2014 USD 81,92 Pictet-Digital Communication-P USD 23/10/2014 USD 205,71
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  • Page 15 Advertisements
    • 21 15 The Oaks Cellars Shop Online 1^ L’Atelier du Vin T-B Night Corkscrew Usual: G$145.00 www.oaks.com.sg Now: S$72.50 50% off OAK S
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    • 107 15 WE ARE Driven to outperform United in our commitment to serving investors Guided by our time-tested investment process Singular in our mission to protect and enhance our clients' assets PIMCO M Ll m N La V> S Andrew Balls I Mark Kiesel CIO Global Fixed Income I CIO Global Credit
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  • TECHNOLOGY
    • 669 16  -  Its series of programmes are aimed at building a vibrant and sustainable data ecosystem By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore THE Infocomm Development Authority of Singapore (IDA) on Tuesday reaffirmed Singapore’s ambition to become the world’s first “smart nation” and announced at the Smart Nation:
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    • 432 16  -  By Michelle Quah michquah@sph.com.sg @MichelleQuahBT Singapore GOOGLE Inc and global professional services firm PwC have teamed up to make their collective expertise and strengths via new and innovative services available to clients. Among other things, the two companies intend to make PwC’s
      PHOTO: BLOOMBERG  -  432 words
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    • 1620 16 The Business Times Ik T I 1 I /“I 1 Toll free 1800-289-8822 I Email noticesasph.com. sg J V i I www.sphclass.com.sg/notices 3 If you're looking to buy or rent an HDB apartment, turn to the Print Classified Properties section. To advertise, call the Print Classified Hotline: 1800-289 9988. Need
      1,620 words
    • 140 16 THE BVI BUSINESS COMPANIES ACT, 2004 JADE LINE PROFITS LIMITED (“the Company”) NOTICE OF LIQUIDATOR’S APPOINTMENT NOTICE is hereby given that the Company is in liquidation and that Cheung Yuet Mei of Room 705 Carnival Commercial Building, No. 18 Java Road, North Point, Hong Kong has been appointed the liquidator
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  • CONSUMER
    • 387 17 AFP Washington CREDIT-CARD hacking is the number one crime on Americans’ worry list, far above getting mugged or murdered, according to a Gallup survey released on Monday. As the number of major retailers reporting cyber breaches grows, with thieves stealing credit
      AFP  -  387 words
    • 750 17 BLOOMBERG New York AS McDonald’s Corp, the world’s largest restaurant chain, loses customers to rivals such as Wendy’s Co and Chipotle Mexican Grill Inc, it’s beginning to look vulnerable. Its valuation relative to earnings is now lower than any of its American peers.
      BLOOMBERG  -  750 words
    • 588 17 Talks have stalled over presence in Aussie herd of virus spread by midges REUTERS Sydney AN insect the size of a pen tip is frustrating efforts by Australia to sign a deal, potentially worth billions of dollars, to export live cattle to China to
      REUTERS  -  588 words
  • Page 17 Advertisements
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    • 169 17 WORLD’S FINEST SERVICED OFFICES SERVICED OFFICES For the 1-10 person business Fully furnished prestigious offices y Business registration offices available Sea View Offices Available Now; First 3 Months Free on a 6 Month Lease ■y Dedicated receptionist answering your calls the way you would like y Meeting rooms, bilingual secretaries
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  • GOVERNMENT & ECONOMY
    • 652 18 Discrepancy a sign of more fake export-invoicing, leading to distortion of economic figures BLOOMBERG Beijing THE gap between China’s reported exports to Hong Kong and the territory’s imports from the mainland widened in September to the most this year, suggesting fake export-invoicing is
      BLOOMBERG  -  652 words
    • 1006 18 BLOOMBERG Washington INVESTORS eyeing recent global economic and political turmoil are expressing doubt about forecasts from Federal Reserve officials and most Wall Street economists that the Fed will begin to lift its benchmark rate in mid-2015. The Federal Open Market Committee
      BLOOMBERG; PHOTO: AFP  -  1,006 words
    • 1106 18 BLOOMBERG London EUROPEAN Central Bank president Mario Draghi, fighting a deflation threat in the euro region, may need to confront a concern more familiar to Americans: income inequality. With interest rates almost at zero, Mr Draghi is moving into
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,106 words
    • 582 18 BLOOMBERG Zurich MICHEL Howald just lost his job of 36 years at a graphic design and packaging company. He expects that it may be some time before he finds another. “They told me at my age, I wouldn’t be able to find
      BLOOMBERG  -  582 words
    • 605 19 Single-family home prices rise in Aug on year-over-year basis but fall short of expectations: survey LATEST US DATA REUTERS BLOOMBERG Washington A KEY gauge of capital goods orders by US businesses recorded its biggest drop in eight months in
      REUTERS; BLOOMBERG  -  605 words
    • 486 19  -  By Anthony Rowley Tokyo EMBATTLED Japanese Prime Minister Shinzo Abe received good news on the economic front on Tuesday as official data showed retail sales spurting in September, suggesting that Japan’s economy is shaking off the shock of a sales tax hike
      486 words
    • 213 19 AFP Hong Kong HONG KONG democracy activists on Tuesday called for direct talks with Beijing officials, the first time such a request has been made as they marked one month of mass protests by unfurling a sea of umbrellas. The protests have been
      AFP  -  213 words
    • 404 19 REUTERS Stockholm SWEDEN’S central bank cut interest rates by more than expected to zero on Tuesday to ward off prolonged deflation risk, and said that it would delay tightening policy until the middle of 2016. Like the neighbouring eurozone, Sweden is grappling
      REUTERS  -  404 words

  • Page 19 Advertisements
    • 48 19 m A m <9 J a w I 1 i r a 0 acy m3eF HOROLOGICAL LAB WWW.MBANDF.COM i THE HOURGLASS SINGAPORE PARAGON MORE PASSION ION ORCHARD L'ATELIER KNIGHTSBRIDGE MALMAISON TEL: 65-6735 6466 TEL: 65-6509 9268 TEL: 65-6884 8484 KUALA LUMPUR PAVILION SHOPPING MALL TEL: 603-2148 8930 WWW.THEHOURGLASS.COM
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  • TRANSPORT
    • 501 20  -  Sales of 1,239 were posted in January to September 2014, up 40.3 per cent compared to a year ago By Samuel Ee samuelee@sph.com.sg Singapore PARALLEL imports (Pis) are back with a vengeance, and their sales are surging as mass market brands once
      501 words
    • 756 20  -  TT STRAIT TALK BY DAVID HUGHES OF ALL recent International Maritime Organization (IMO) pieces of legislation, the Ballast Water Management (BWM) Convention has probably been the most contentious. The global shipping industry expects to have to invest around US$100 billion in new ballast water
      756 words
    • 530 20 Shale oil boom is pushing price of low-octane petrol down more than the cost of premium petrol BLOOMBERG San Francisco THE shale oil boom is proving far less kind to Mercedes Benz drivers than it is to those sitting behind the
      BLOOMBERG  -  530 words
    • 357 20 REUTERS New York TAKATA Corp, the Japanese company whose potentially defective airbags have led to the recall of millions of vehicles, was sued by consumers who claimed Takata and several car manufacturers defrauded them by concealing crucial information. The lawsuit, filed with
      REUTERS  -  357 words
    • 357 20 REUTERS Amsterdam DUTCH prosecutors investigating the crash of Malaysia Airlines flight MH17 believe the aircraft might have been shot down from the air but that a ground-to-air missile attack is more likely, a senior prosecutor said in a German media interview. The Russian government
      REUTERS; PHOTO: AFP  -  357 words
    • 247 20 REUTERS Tokyo HONDA Motor Co Ltd cut its sales forecasts for this year, citing competition in Japan and China as well as the impact of recalls on new model launches, but said that a weak yen will help it stick to its operating
      REUTERS  -  247 words
    • 562 22 Higher costs, West-Russia tension over Ukraine, loan problems among reasons firms not taking the short cut REUTERS Bodoe, Norway DESPITE high hopes for Arctic business from mining to shipping as the ice melts rapidly and temperatures rise twice as fast as the global
      REUTERS  -  562 words
    • 595 22 BLOOMBERG Beijing CHINA’S State Council has ordered the merger of trainmakers China Northern Locomotive Rolling Stock Industry Group Corp and CSR Group into one company, according to government officials involved in the transaction. A consolidation will facilitate efforts to win contracts abroad, said the
      BLOOMBERG; PHOTO: BLOOMBERG  -  595 words


  • Page 22 Advertisements
    • 450 22 Strategies To Grow and Protect Your Property Investments All prices are inclusive of GST "Early bird price ends 10 Nov 2014 With the likely increase in interest rates, what types of property investment can you consider to maximise your gains? Should you explore overseas properties such as in Philippines and
      450 words

  • Page 23 Advertisements
    • 970 23 NOTICE OF BOOKS CLOSURE AND PAYMENT DATE FOR DISTRIBUTION For the period from 1 April 2014 to 30 September 2014 a-ilrust ascendas india trust ASCENDAS INDIA TRUST (Registration Number: *****04) (a business trust registered under the Business Trusts Act, Chapter 31A of Singapore) To: Unitholders of Ascendas India Trust Dear
      970 words
    • 14 23 Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices
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    • 2224 23 EXIT OFFER in connection with THE DISPOSAL OF THE EXISTING BUSINESS OF ST. JAMES HOLDINGS LIMITED TO CITYBAR HOLDINGS LIMITED (THE “COMPANY”) AND DISTRIBUTION OF SHARES IN THE COMPANY TO SHAREHOLDERS OF ST. JAMES HOLDINGS LIMITED by FBO PTE. LTD. (Incorporated in the Republic of Singapore) (Company Registration No. *****6470Z)
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  • OPINION
    • 555 24 EDITORIAL THE birth of the Asian Infrastructure Investment Bank (AIIB) in Beijing’s Great Hall of the People last Friday is yet another reminder that the global balance of economic and political power is shifting. The United States is still
      555 words
    • 785 24  -  TT THE BOTTOM LINE By Frank Ching T The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 AN increasingly self-confident China is now seeking to reshape the world through playing leadership roles in international organisations, such as the Asia-Pacific
      785 words
    • 1250 24  -  If India is to catch up with China by 2050, it needs to close the widening infrastructure gap between the two nations. BY CECILIA TORTAJADA AND ASIT K BISWAS BY CECILIA TORTAJADA, ASIT K BISWAS T Cecilia Tortajada is a senior research fellow and Asit
      PHOTO: BLOOMBERG  -  1,250 words
    • 812 25  -  US CONGRESS ELECTIONS By Andrew Hammond T The writer is an associate at LSE Ideas at the London School of Economics and a former US editor at Oxford Analytica. He was formerly a special adviser in the UK government THE
      812 words
    • 758 25  -  By Pankaj Mishra BLOOMBERG VIEW ON Nov 9, Berlin will celebrate the 25 th anniversary of the fall of the wall that divided the city during much of the Cold War. At the time, images of exuberant wall-breakers signalled the end of
      BLOOMBERG VIEW; PHOTO: AFP  -  758 words
    • 881 25  -  As media companies build up their analytic capabilities for greater success, executives need to stay focused on business outcomes. BY CHARLES KIM, RASMUS WEGENER AND FLORIAN HOPPE outcomes.BY CHARLES KIM, RASMUS WEGENER, FLORIAN HOPPE T Charles Kim is a Bain partner in New York;
      PHOTO: BLOOMBERG  -  881 words


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  • Page 26 Advertisements
    • 299 26 C a ila n E n n o r e J e d d a h B r is b a Shanghai Chittagong n e Ho Chi Minh H o n g K o n g J e b e NYK RORO (ASIA) PTE. LTD. REGULAR SERVICE TO Persian Gulf,
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  • LIFE & CULTURE
    • 526 27  -  Pich Event Management chosen from seven companies that bid in open tender exercise By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore OCBC Bank has appointed Pich Event Management to organise the new OCBC Cycle 2015 event, which will be held over the weekend of Aug
      PHOTO: OCBC BANK  -  526 words
    • 778 27 NYT Paris PABLO Picasso once said: “Give me a museum and I’ll fill it.” Whether he did say it or not, it sounds like him, a serial overproducer. And in a grey, leaf-drifting October in Paris, he’s as good as his word. The
      NYT; PHOTO: AFP  -  778 words
    • 627 27 AFP New York THE music’s thumping, the dance floor’s packed and the bar’s bustling. Welcome to one of New York’s hottest nightclubs and a new generation of clubbers: six-year-olds. The VIP Room threw open its doors to children aged six to 12
      AFP; PHOTO: AFP  -  627 words
  • Page 27 Advertisements
    • 91 27 PabienbCare Asia 2014 2nd Annual PCA 10-12 November 2014 Suntec Singapore Convention Exhibition Centre www.patientcareasia.com Event Highlights Network with 250+ healthcare leaders and practitioners Learn from 10 case studies from top hospitals across Asia Opening keynote by Randall Carter, Senior Vice President of Planetree, United States Special rates* for healthcare
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  • Page 27 Miscellaneous
    • 307 27 CRYPTIC CROSSWORD Across 1 The hitch-hiker’s guide? (4,2,5) 9 Nothing to drink after writer talks without inhibitions (5,2) 10 Violet makes attempt to pursue popular detective (6) 12 Eccentric comedian with no energy is wandering (7) 13 Mature king to confess (5-2) 14 Cards given out in deal with workers
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  • Page 28 Advertisements
    • 474 28 Beef Up Your Finances Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your IPOs other offerings UNWRAP ASIA'S LONG-TERM GROWTH POTENTIAL WITH THE REGION'S LARGEST FIXED INCOME ETF. n i r!= South Korea s m China RAF ft BIRF on Hong Kong r^Zsat Philippines Thailand a own, Malaysia -.1
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  • Page 29 Advertisements
    • 194 29 Algiers Tunis Casablanca Tripoli Cairo Kano Dakar Conakry AbidjanAccraAbuja Khartoum AddisAbaba Wherever business takes you in Africa, we’ll fly you there With 22 destinations, Emirates takes care of all your business travel needs in Africa. And when you travel Emirates Business Class, we’ll take care of all your other needs
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  • EXECUTIVE MONEY
    • 1127 30 Bankers are jockeying for the next sovereign debt in Africa, shedding long-held wariness of the region NYT London FIVE men in dark business suits gathered before Maria Kiwanuka in a semicircle. They were international bankers and they had a pitch to make. Ms Kiwanuka, Uganda’s finance minister, was
      NYT; FILE PHOTO  -  1,127 words
    • 484 28 TT ON THE RADAR GLOBAL mutual funds were net buyers of Singapore equities in the three months to Oct 22. The top five most actively bought stocks saw a buy volume of about S$1.12 billion. The top five most heavily sold stocks saw a volume
      484 words
    • 811 28 Yen’s decline also seen as boon for company earnings, consumer confidence BLOOMBERG Tokyo AS bets pile up against Japanese stocks, investors with US$293 billion in client assets see the pessimism as a signal to buy. History is on their side. Short-selling
      BLOOMBERG  -  811 words
    • 891 29 Nandita Agarwal Parker, who runs the best-performing India-focused hedge fund, is betting on a bull run BLOOMBERG Mumbai WHEN Nandita Agarwal Parker started her India hedge fund a decade ago, all investors in the US wanted to talk about were her children and her husband.“
      BLOOMBERG; PHOTO: BLOOMBERG  -  891 words
  • Page 30 Advertisements
    • 49 30 TOP FXTRADERS CHOOSE SINGAPORE'S No.l PROVIDER* We provide CFD and forex traders with 24-hour support including access to in-house experts located in our storefront office at 9 Battery Road. Losses can exceed your initial investment. Find out more today at IG.com.sg or call +65 6390 5118 40 YEARS IG
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    • 23 30 ON THE RADAR Del Monte tops buy list 28 BULLISH ON INDIA Indian wife and mother at helm of India hedge funds 29
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