The Business Times, 1 November 2014

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Microfilm: NL33295
Total Pages: 44
1 16 The Business Times
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  • Title Section
    Lock icon Masthead
    20 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g NOVEMBER 1-2, 2014 S$1.00 MCI (P) 052/08/2014 Sth A SINGAPORE PRESS HOLDINGS PUBLICATION
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  • Article
    Lock icon Redundancies up in Q3
    18 1 EMPLOYMENT THE number of workers made redundant went up in Q3 to 3,400. 2
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  • Article
    Lock icon New challenges in next 50 yrs
    23 1 TOURISM IN addition to a labour shortage, S’pore faces competition from cities offering more customised experiences. 4
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  • Article
    Lock icon Firms less upbeat
    14 1 OUTLOOK BUSINESS optimism has waned across services and manufacturing sectors. 6
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  • Article
    Lock icon DBS Q3 profit up 17%
    27 1 SINGAPORE BANKS DBS Group posted Q3 profit of S$1.01 billion, helped by higher margins and growth in fee and trading income. 10
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  • Article
    Lock icon A hub for SMEs coming up
    22 1 CHEMICAL INDUSTRY SMEs can soon access a suite of solutions at the JTC Chemicals Hub.| 15
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  • Article, Illustration
    Lock icon Nikkei leaps as BOJ springs a surprise
    1115 1  -  The yen hits the lowest level since 2008 after the Policy Board in a tight 5-4 vote launches a major new round of monetary easing By Anthony Rowley btworld@sph.com.sg Tokyo IN one of the closest votes in its history, or that of any
    Source: Bloomberg  -  1,115 words
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      72 1 www. usinesstimes.com. g NOVEMBER 1-2, 2014 S$1.00 MCI (P) 052/08/2014 WEALTH Geopolitical crisis impact not long term 28 OPINION Myth of pay for performance 26 MOTORING Mercedes-Benz GLA45 AMG 4Matic L15 THE RAFFLES CONVERSATION Maestro Zubin Mehta 8-9 BT wins two awards for financial journalism Senior correspondent Michelle Quah (right)
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      5 1 LIVING Savvy spinoffs L2 -4
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  • TOP STORIES
    • Article
      Lock icon Redundancies up in Q3, employment growth rates hold steady: MOM
      458 2  -  Rise attributed to business restructuring; more than half from services By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE number of workers made redundant in Singapore went up in the third quarter of 2014 to 3,400, in what the Ministry of Manpower
      458 words
    • MARKETS
      • Article
        Lock icon STOCKS
        59 2 GSTI 3,274.25 (+39.94) GSTI FUTURES 3,273.00 (+39.00) GSIMSCI 368.29 (+5.25) GSIMSCI FUTURES 369.50 (+7.00) Friday Change KL COMP 1,855.15 +12.37 NIKKEI 225 16,413.76 +755.56 HANG SENG 23,998.06 +296.02 SET 1,584.16 +18.81 JAKARTA 5,089.55 +30.70 MANILA 7,215.73 +44.74 KOSPI 1,964.43 +5.50 SHENZHEN B 977.95 +3.01 MUMBAI IND 27,865.83 +519.50 12
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.35 MALAYSIA 6.85 HONG KONG 5.00 INDONESIA 14.481 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.50 INDIA 14.75 Source: Bloomberg
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      • Article
        Lock icon FOREX
        49 2 US$ S$ US$ (S$ per US$) 1.283 (US$/S$ per 1.599 2.052 EURO (US$/S$/€ 1.257 1.612 Foreign currency per US$ S$ YEN 111.30 86.70 RM 3.290 2.564 HK$ 7.755 6.044 BAHT 32.55 25.36 RUPIAH 12,098 9,428 RENMINBI 6.110 4.761 INDIAN RUPEE 61.41 47.86 A$ 1.135 0.885 NZ$ 1.272 0.992
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    • Article, Illustration
      Lock icon Next 50 years will present new tourism challenges
      493 4  -  S’pore must keep ‘raising the quality of the experience and value of each tourist’: PM Lee By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore SINGAPORE has overcome many hurdles in the last 50 years of its tourism journey and the country can expect to
      493 words
    • Article
      Lock icon Construction firms find formal qualifications for workers a stumbling block
      614 4  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore MARKET watchers and practitioners agree that increasing productivity in the construction sector is a move in the right direction, but some question the need for formal qualifications, which ultimately pushes up costs. Deputy Prime
      614 words
    • Article
      Lock icon MPs raise questions on SMEs, economy, Ebola
      429 4  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore MEMBERS of Parliament have filed a total of 72 questions 53 for oral answer and 19 for a written response for next Monday’s Parliament sitting. New Nominated MP Thomas Chua wants to know if the government plans
      429 words
    • Article
      Lock icon Minister: Raise the bar in corporate governance
      393 5  -  And that can be done by taking the initiative with innovative practices, he says the way ST Engg and SingTel have done in the past SIAS AWARDS By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore TO protect the interests of retail investors, businesses must
      393 words
    • Article, Illustration
      Lock icon BT bags two awards for financial journalism
      720 5  -  Senior correspondent Michelle Quah is Financial Journalist of the Year, Lee Meixian the Most Promising Journalist of the Year By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore TWO reporters at The Business Times have bagged top awards for financial journalism by the Securities Investors
      PHOTO: ARTHUR LEE  -  720 words
    • Article
      Lock icon Business confidence on the wane
      523 6  -  Though optimistic firms still outnumber negative ones, positive sentiment has slipped By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore BUSINESS optimism has waned across both the services and manufacturing sectors, according to government surveys conducted in September and October. Findings show that although there continue to be
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    • Article
      Lock icon No development charges for 3 former KTM sites in S’pore
      556 6  -  By Angela Tan angelat@sph.com.sg Singapore A LAND development charge dispute which threatened to derail joint mega property projects related to three former Malayan Railway (KTM) sites in Singapore has been resolved. On Friday, the foreign ministries of Singapore and Malaysia
      556 words
    • Article
      Lock icon Sept bank loans stall on construction dip
      426 6  -  Total loans stay at S$605b after rising 1.2% in August By Jamie Lee leejamie@sph.com.sg @JamieleeBT Singapore BANK lending returned to its uninspired form in September, dousing cheer from a growth spurt in August. The restructuring bite on the construction sector sank into business
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    • Article
      Lock icon Home loans in focus at banks’ Q3 results
      721 7  -  UOB’s bad mortgage loans have gone up; banks say no systemic stress; stocks of all three local banking groups higher on Friday SINGAPORE BANKS By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THERE was unflinching focus on the three Singapore banking group’s housing loans
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      51 2 CONTENTS LIVING Dining L2-5 NEWS Top Stories 2-7 Raffles Conversation 8-9 Companies 10-14 Real Estate 15-16 Banking Finance 18 Energy Commodities 19 Technology 20 Transport 22 Govt Economy 23-25 Opinion 26-27 Wealth 28-30 Life Culture 31 Style L6-7 Home Garden L8-9 Travel L10 Wine L11 Health L12-13 Motoring L14-15 Golf
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      173 3 Tvfi J&u /mi m m > m m V-*V3&'> m SB 3 m m m A sgaaeaBi gassj m v»SBS? <s m a ISI BBS Tr «S 3% 1 B SfaS is Wll SB !•> i ft K sa ••V, SBR a «g 05 i sa» i£i jEE«<ie H SSegg
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      25 6 Shop ONLINE www.oaks.com. It's A ‘Discovery OAKS wine shop The Brilliant Second Wine! Les Forts de Latour 2006 1 Usual: S$376.00 Now: S$255.00 rp-92 I
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      135 7 1 1B FIGARO STREET COMMERCIAL SHOP UNITS FOR SALE OY PUOLIC TENDER fl 7SSS> 2 adjoining ground floor shop units Prominent dual road frontage Rare 9,999 year leasehold Total Strata Area approximately 3,521 sq ft Full F&B approval for 1 Figaro Street 100% tenanted with stable rental income and potential
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      60 7 SINGAPORE -SWEEP1 ST PRIZE $2,300,000 2 nd p R ZE 3 rd PRIZE $500,000 $250,000 9 sets of 2D winning numbers (315,000 prizes, each $6) SINGAPORE SWEEP 11/2014 L $3 ssr *****68 2014 DRAW ON WEDNESDAY, 5 NOV 2014 p A Always play with care. responsibiyj Do not bet illegally.
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Mehta, maestro
      2445 8  -  Zubin Mehta rose from being a starving student in Vienna to a hotshot conductor of top orchestras to an elder statesman of music diplomacy. But he believes his work is not done. By Helmi Yusof By Helmi Yusof WHEN he was 15, Zubin Mehta stood trembling before the
      PHOTO: SHAI SKIFF  -  2,445 words
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  • COMPANIES & MARKETS
    • Article
      Lock icon DBS Q3 profit up 17% at S$1.01b
      697 9  -  Boost comes from higher margins and strong fee and trading income growth By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore DBS Group Holdings posted robust third-quarter results on Friday with net profit rising 17 per cent from ayear ago to S$1.01 billion, helped by
      697 words
    • Article
      Lock icon Bank not seeing stress in Singapore mortgages: Gupta
      604 9  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore DBS Group Holdings is not seeing any stress in its Singapore mortgage book, said its chief executive Piyush Gupta. The bank's non-performing loans (NPLs) for housing stood at S$110 million as at Sept 30, unchanged
      604 words
    • Article
      Lock icon DBS keen on RBS’s Coutts, says CEO
      380 9  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore DBS Group Holdings is interested in buying Coutts International, the non-UK private banking business of the Royal Bank of Scotland (RBS). “We will take a look at Coutts when it comes on the block,” said DBS
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    • Article, Illustration
      Lock icon STI rallies 1.2% on upbeat US GDP, Japan stimulus
      616 10  -  STOCKS Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Senior Correspondent THE local bourse rallied on Friday on a double boost of feelgood news well-above-trend thirdquarter growth numbers from the US, and the Japanese central bank’s aggressive move to crank up its monetary stimulus plan
      616 words
    • Article, Illustration
      Lock icon S’pore market value falls for third month
      484 10  -  By Kenneth Lim kenlim@sph.com.sg @KennethlimBT Singapore THE value of the Singapore stock market fell for the third straight month as growth concerns hammered stocks across the board. The combined market capitalisation of Singapore-listed stocks slipped 0.4 per cent month-on-month to S$944.9 billion in
      Compiled by BT  -  484 words
    • Article
      Lock icon GAINERS
      77 10 BY CENTS CLOSE UP 52w high/low SPDR DJIA US$ ***** 454.2 2.1 *****/***** SPDR S&P500 US$ ***** 413.1 1.6 *****/***** DBXT Nifty US$ ***** 347.7 2.0 *****/9759 Lyxor ThaiSET US$ ***** 195.0 1.1 *****/***** DBXT AUDCS SG$ ***** 176.0 0.7 *****/***** BY PERCENTAGE CLOSE UP 52w high/low Acma Ltd
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    • Article
      Lock icon LOSERS
      75 10 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -274.5 -1.8 *****/***** DBXT iBoxxKR US$ ***** -111.6 -0.6 *****/***** JMH USD 5990 -51.3 -0.7 6460/4934 DBXT S&P Short US$ 2318 -42.3 -1.4 2757/2304 DBXT DBCDJUBS US$ 2645 -21.8 -0.6 3096/2615 BY PERCENTAGE CLOSE DOWN 52w high/low FalconEne W*****8 1.2
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    • Article
      Lock icon MOST ACTIVE
      36 10 VOLUME APAC Strategic 109,242,000 OLS Enterprise 92,050,000 IHC 81,820,000 JES Intl 63,622,000 Noble 59,204,000 Market volume 1,981,726,000 VALUE UOB 113,455,960 DBS Grp 105,868,331 SingTel 101,816,853 OCBC Bank 84,178,370 Global Logistic 79,637,970 Market value 1,485,352,000
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    • Article
      Lock icon STI STOCKS
      306 11 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 223 xd -2 226/223 250 206 6.4 5634.5 CapitaLand 317 +4 317/308 348 268 15.9 2.5 *****.2 CapitaMall Trust 197 +1.5 198/195 209 180 5.2 6832.5 CityDev 945 +6 961/938 1118 860
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    • Article
      Lock icon SGX ETFs Most Active
      107 11 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap Nikko AM STI ETF 336 +5 253 336/333 345/300 335/337 8.1 UETF SSE50China 163 +7 207 163/156 165/140 159/163 50.9 IS MS India US$ US771 +24 207 771/752 779/541 768/771 96.4 GLD US$ US***** -214 122
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    • Article
      Lock icon SIBOR
      31 11 Oct 31 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) (SS) 1 mth 0.***** Source: Thomson Reuters
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      791 11 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Oct 27 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Sino Grandness Food 29-Oct-14 Huang Yupeng Buy 20 0.39 *****6 40.40 *****6 40.42 Ezion Hldgs 28-Oct-14 Commonwealth
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 11 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 12 3 1 0 0 0 12 3 1 Manufacturing 73 26 26 15 3 8 88 29 34 Commerce 27 12 18 10 2 0 37 14 18 Tpt/Stor/Comms 25 8 6
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      120 11 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 33,561 33,561 99,391 99,391 Manufacturing 278,414 53,539 331,953 132,247 5,064 137,311 Commerce 131,608 77,177 208,785 141,434 2,811 144,245 Tpt/Stor/Comms 132,042 1,418 133,460 222,394 219 222,612 Finance 36,728 36,728 328,934 328,934 Construction 26,889 82,908 109,797 8,597
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 11 Oct 31 VALUE CLOSE BT OB/OS 541.00 +543.00 BT CADI -*****.00 +225.00 BT 10-day MA -*****.00 +54.00 FTSE ST Mid Cap 750.97 +5.62 FTSE ST Small Cap 522.69 +5.77 FTSE ST All Share 791.64 +8.99 FTSE ST China Top 190.11 +2.64 FTSE ST China 225.83 +3.02 FTSE
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    • Article
      Lock icon UNUSUAL ACTIVITY
      81 11 VOL CLOSE($) CHANGE Rowsley 21,027.0 0.205 +0.043 +26.54 Asia Fashion 401.0 0.060 -0.038 -38.78 Suntar Eco-City 120.0 0.100 +0.020 +25.00 Shangri-La HKD 90.0 11.500 -0.500 -4.17 JES Intl 63,622.0 0.026 +0.005 +23.81 WE 16,932.0 0.009 +0.002 +28.57 JB Foods 3,016.0 0.129 +0.008 +6.61 Combine Will 43.5 0.580 -0.020
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    • Article
      Lock icon COMMODITY FUTURES
      212 12 Oct-30 Price Net change change Last Trade Agricultural Oct-30 CBOT Soybeans (US cents/bu) 1024.25 -18.75 -1.80% 14/11/2014 CBOT Soybean Oil (US cents/lb) 34.31 0.13 0.38% 12/12/2014 CBOT Wheat (US cents/bu) 536.00 -2.25 -0.42% 12/12/2014 Oct-30 LIFFE Cocoa (£/tonne) 1930.00 15.00 0.78% 12/12/2014 LIFFE Coffee (US$/tonne) 2036.00 -6.00 -0.29%
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    • Article
      Lock icon PALM OIL
      60 12 Oct 31 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Nov 14 2270.0 2295.0 2295.0 2251.0 149 1664 Dec 14 2289.0 2309.0 2314.0 2281.0 6088 ***** Jan 15 2283.0 2306.0 2311.0 2274.0 ***** ***** Feb 15 2281.0 2306.0
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    • Article
      Lock icon GOVERNMENT SECURITIES
      65 12 Oct 31 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105.98 5-Year N*****0H 1.625 01-Oct-19 100.72 100.90 100.75 10-Year NY*****H 3.000 01-Sep-24 106.21 106.60 106.30 15-Year NY*****E 2.875 01-Jul-29 102.18 102.50 102.25 20-Year NZ*****V 3.375 01-Sep-33 107.78 108.40 108.25
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 12 Oct 31 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1297 1.1304 0.8806 0.8808 Canadian dollar 1.1440 1.1451 0.8922 0.8917 Euro 1.6121 1.6128 1.2566 1.2567 NZ dollar 1.0080 1.0090 0.7857 0.7862 Sterling pound 2.0512 2.0528 1.5989 1.5995
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    • Article
      Lock icon BONDS, WARRANTS, PREFERENCE SHARES
      211 12 Most active Oct 31 Prem Expiry Last Vol Conv Exer Disc Gear-Mths Company Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 3.8 1.2 ***** 1 18 24 DBS MB eCW*****6 9.9 1.5 7051 0.2 1880 3 UOB MB eCW*****2 13.9 2.5 5330 0.1 2360 5
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT’L INDICES
      373 12 In local curr In S$ In US$ dy yr dy yr dy yr Oct 30 Index Change Change Change Change Change Change World Preliminary 1232.2 0.4 4.0 0.5 2.7 0.0 1.5 EAFE Preliminary 949.1 0.5 -0.8 0.1 -5.1 -0.4 -6.1 Europe Preliminary 1341.1 0.4 -1.0
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    • Article, Illustration
      Lock icon STOCK MARKETS
      2 12
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    • Article
      Lock icon NOL posts Q3 net loss of US$23m
      443 13  -  Container shipping still a drag; cost-efficiency slashes YTD core Ebit loss By Malminderjit Singh msingh@sph.com.sg @MalminderjitBT Singapore NOL Group’s dismal financial performance continued as it announced another loss-making quarter on Friday marking the fourth straight quarter that the group was in the red.
      443 words
    • Article
      Lock icon SMRT’s Q2 profit up 75.5% at S$25.3m
      490 13  -  By Samuel Ee samuelee@sph.com.sg Singapore SMRT Corp’s net profit spiked up 75.5 per cent to S$25.3 million for the second quarter ended Sept 30 on improved performance in its train and bus operations, as well as higher profitability from its taxi, rental and
      490 words
    • Article
      Lock icon UIC Q3 earnings rise 37% to S$59.7m
      404 13  -  By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore UNITED Industrial Corporation (UIC) has posted a 37 per cent year-on-year increase in thirdquarter net profit to S$59.69 million, on the back of a 17 per cent rise in revenue to S$178.38 million. Another factor that boosted
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    • Article
      Lock icon Myanmar Brewery stake: arbitrators rule against F&N
      299 13  -  By Malminderjit Singh msingh@sph.com.sg @MalminderjitBT Singapore AN arbitration tribunal in Singapore has ruled against Fraser and Neave Ltd (F&N) in its dispute with Myanma Economic Holdings Limited (MEHL) over a stake in Myanmar Brewery Limited. In an announcement on Friday, MEHL said that
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Plug & play ahead for SMEs in chemical sector
      421 14  - Plug play ahead for SMEs in chemical sector JTC Chemicals Hub, to be completed in 2016, will have safety features and shared facilities By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore SMALL and medium enterprises (SMEs) can soon access a suite of plug and play solutions at the JTC Chemicals Hub Tuas
      421 words
    • Article, Illustration
      Lock icon Tokyo Disney Resort to undergo US$4.5b expansion
      393 14 Bloomberg Los Angeles ORIENTAL Land Co, the owner of Tokyo Disney Resort, is planning a US$4.5 billion expansion of the project that includes doubling the size of a fantasy park currently featuring Snow White and Pinocchio rides. The company has begun developing Fantasyland
      Bloomberg; PHOTO: BLOOMBERG  -  393 words
    • Article
      Lock icon More temporary HDB flats for waiting couples
      155 14  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore THE supply of HDB flats under the Parenthood Provisional Housing Scheme (PPHS) will be bumped up by 800 flats, in addition to the current supply of 1,150 such flats. Minister for National Development Khaw Boon Wan, announcing
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    • Article
      Lock icon Sumitomo Mitsui buys 50b yen of healthcare assets
      155 14 Bloomberg Tokyo SUMITOMO Mitsui Banking Corp has agreed to buy healthcare facilities from Orion Partners ahead of a plan to list a real estate investment trust, according to sources. Sumitomo Mitsui bought the 50 billion yen (S$586 million) portfolio, which consists of
      Bloomberg  -  155 words
    • Article
      Lock icon Househunt
      1111 15 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN SEPT 17 AND SEPT 23, 2014 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 3 NON-LANDED Harvest Mans Apt 18/09/2014 99 947 1250 1320 Highline Residences Apt 22/09/2014 99 506
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      368 16 r f tapEF-rr 55 Strategies To Grow and Protect Your Property Investments All prices are inclusive of GST ’Early bird price ends 10 Nov 2014 AT* Vi mm =g*3=i ssl BS KS m ■773 77; as t? WHY ATTEND? DAY 1 SATURDAY, 29 NOV 2014 DAY 2 SUNDAY, 30 NOV
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  • BANKING & FINANCE
    • Article
      Lock icon China’s shadow banking sector expands
      485 17 FSB ranks it as world’s third largest under a new, more targeted definition Reu ters Beijing CHINA’S shadow banking sector continued to grow at breakneck speed in 2013 and now ranks as the third largest in the world, a report released by the Financial Stability
      Reuters  -  485 words
    • Article, Illustration
      Lock icon Barclays takes huge charge for forex probes
      499 17 AFP London SCANDAL-HIT British bank Barclays revealed a huge charge for probes into allegations it rigged foreign-exchange market prices, cutting into quarterly profits reported. The bank has set aside £500 million (S$1 billion), and this hit profits hard. “A £500-million provision has been
      AFP; PHOTO REUTERS  -  499 words
    • Article
      Lock icon EU bid to limit card fees set to win full backing
      448 17 Bloomberg Brussels EUROPEAN Union (EU) nations are poised to throw their weight behind plans to cap the fees that banks can collect on Visa Europe and MasterCard transactions, as the bloc seeks to reduce charges imposed on retailers. Governments
      Bloomberg  -  448 words
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Asset sale not on cards for Bakrie Group: sources
      891 18 Conglomerate prefers to negotiate with creditors to restructure part of its US$8 billion in debt instead, they say Reu ters Jakarta INDONESIA’S mining-to-tele-coms conglomerate Bakrie Group will negotiate with creditors to restructure part of its US$8 billion in debt rather than
      Reuters; PHOTO: BLOOMBERG  -  891 words
    • Article
      Lock icon Russia to resume gas supplies to Ukraine
      438 18 Reuters Brussels UKRAINE, Russia and the European Union have signed a deal that will see Moscow resume vital supplies of gas to its former Soviet neighbour over the winter in return for payments funded in part by Kiev’s Western creditors. After several failed
      Reuters  -  438 words
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      Lock icon Page 18 Advertisements Column 1
      187 18 BVI BUSINESS COMPANIES ACT, 2004 (AS AMENDED) NOTICE OF APPOINTMENT OF LIQUIDATOR Prana Fund Limited (Company Number: *****52) incorporated in the British Virgin Islands (the “Company”) Notice is hereby given pursuant to Section 204(1)(b) of the BVI Business Companies Act 2004, as amended, that the Company is in voluntary liquidation.
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  • TECHNOLOGY
    • Article
      Lock icon LinkedIn Q3 revenue, profit better than expected
      393 19 Analysts say hiring unit and rapid expansion in China will drive company’s growth Reuters New York CORPORATE networking site LinkedIn Corp reported bet-ter-than-expected quarterly profit and revenue as more businesses used its services to hire staff. The company’s hiring business has been thriving
      Reuters  -  393 words
    • Article
      Lock icon Smartphone wave boosts Q3 earnings at Unisem
      419 19  -  By S Jayasankaran btworld@sph.com.sg Kuala Lumpur RIDING on the back of the global smartphone wave, Malaysian chipmaker Unisem posted a 150 per cent year-on-year rise in third quarter earnings to RM27.1 million (S$10.6 million). That brought its core nine-month earnings to RM34.5 million
      419 words
    • Article
      Lock icon Samsung unveils two new mid-tier handsets, driving up share prices
      326 19 Reuters Seoul SAMSUNG Electronics Co Ltd unveiled two new mid-tier handsets with a premium design as it prepared to deliver a riposte to its low-priced Chinese rivals and reclaim its title as the top brand in the world’s biggest smartphone
      Reuters  -  326 words
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  • CONSUMER
    • Article
      Lock icon Walmart to offer more discounted items as price war hots up
      465 20 It expects competition to be as tough as in 2013 when earnings slumped Reuters New York WALMART has said that it will expand its offering of discounted products during the holiday season and may broaden a price-matching scheme to
      Reuters  -  465 words
    • Article
      Lock icon Danone buys 25% of China infant milk firm
      148 20 Reuters Shanghai DAIRY giant Danone SA will buy a 25 per cent stake in China’s Yashili International for US$550 million, gaining an additional route into the Chinese market for infant milk formula. Danone’s key Dumex brand is battling to win back consumers
      Reuters  -  148 words
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      212 20 Subscribe Now, Unbox Your Very Own Dell Laptop. Subscribe* now to The Straits Times All-in-One PLUS package for 36 months and receive the Dell Vostro 5470. only $59.90;, 7 month Available to UOB and Citibank Credit Card holders only 1 Sleek brushed aluminum build just 19mm slim and weighing 1.5kg
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  • TRANSPORT
    • Article, Illustration
      Lock icon US regulator demands documents on faulty air bags from Takata
      631 21 Critics say air bag maker and safety administration have not moved fast enough on the matter Reuters Detroit US auto safety regulators have ordered Japanese supplier Takata Corp to provide documents and answer questions under oath related to the government’s
      Reuters; PHOTO: REUTERS  -  631 words
    • Article
      Lock icon Gamuda wins right to oversee Klang Valley MRT Line 2
      519 21  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur GAMUDA Bhd’s dominant role in the country’s largest infrastructure development will be hard to beat after the conglomerate won the right to oversee the second line (Line 2) of the Klang Valley MRT project.
      519 words
    • Article
      Lock icon First lawsuit over MH370 filed in Malaysia
      359 21 AFP Kuala Lumpur A MALAYSIAN family on Friday sued the government and beleaguered national carrier for negligence in the mysterious disappearance of flight MH370, in what is believed to be the first lawsuit filed over the disaster. The suit was filed by lawyers
      AFP  -  359 words
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Jakarta workers seek 33% rise in minimum pay
      596 22 But main employer group tells Jokowi such levels would spur job cuts as companies couldn’t afford higher labour cost Bloomberg Jakarta INDONESIAN President Joko Widodo’s government is walking a tightrope as a new minimum wage is negotiated for Jakarta, seeking to balance
      Bloomberg; PHOTO: REUTERS  -  596 words
    • Article
      Lock icon HK protests lay minefield for business
      536 22  -  &3I REUTERS BREAKINGVIEWS By Una Galani Hong Kong HONG Kong’s protesters have laid a minefield for big business. The city’s democracy debate is a deeply divisive issue. For companies, keeping quiet is less risky than expressing an opinion guaranteed to irk customers and staff
      536 words
    • Article
      Lock icon HSBC board member’s ‘slave’ slur slammed
      359 22 Reuters Hong Kong THOUSANDS have signed an online petition denouncing reported comments by an HSBC Holdings board member in which she likened Hong Kong protesters’ demands for democracy to the emancipation of slaves. Laura Cha, who is also a member of Hong Kong’s policy-mak-ing
      Reuters  -  359 words
    • Article, Illustration
      Lock icon Sept consumer spending in first drop in 8 months
      542 23 Slowdown likely to be short-lived; Q3 wages in highest jump in 6 years latest us data Reuters Washington US consumer spending in September fell for the first time in eight months, suggesting that the economy lost some momentum heading into the
      Reuters; PHOTO: AFP  -  542 words
    • Article
      Lock icon Growth and jobs top new European Commission agenda
      558 23 AFP Brussels BOOSTING growth, cutting near-record jobless queues and making member states stick to tough budget rules are just some of the tasks the new European Commission must quickly get to grips with. The Commission, led by former Luxembourg prime minister Jean-Claude
      AFP  -  558 words
    • Article
      Lock icon Thai junta leader declares US$3.1 million in assets
      342 23 Bloomberg Bangkok THAILAND’S junta leader Prayuth Chan-ocha has assets of more than US$3.1 million, more than half of it in cash bank deposits, according to figures released by the nation’s anti-corruption agency. The joint declaration from Gen Prayuth and his wife who
      Bloomberg  -  342 words
    • Article
      Lock icon Philippine pension fund may divest artworks
      568 24 It wants to shore up returns and raise the portion of its portfolio that is invested in equities Bloomberg Manila ROBERT Vergara is so keen to shore up returns at the Philippines’ biggest state pension fund that he is considering selling paintings hanging at
      Bloomberg  -  568 words
    • Article
      Lock icon Myanmar may allow Suu Kyi to contest presidency
      390 24 AFP Naypyidaw MYANMAR’s Parliament will consider amending the country’s constitution which currently bars opposition leader Aung San Suu Kyi from becoming president ahead of crucial elections next year, an official said on Friday. Ms Suu Kyi is trying to change key sections
      AFP  -  390 words
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      83 24 KEEP YOUR ERR CHARGES IN CHECK. EIRIP El Asa ERR ii a Find a property near your workplace or MRT stations using ST .sg LDI lUKtprUBi.lSnr.K- Of\-iA EPPY sk Best in Mobile Media (Gold) at Asian Digital Media Awards 2012 BEST CLASSIFIED WEBSITE with over 1 million unique monthly visitors
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  • OPINION
    • Article, Illustration
      Lock icon The myth of pay for performance
      1020 25  -  Performance is hard to measure precisely and objectively. Does it make sense to link pay to an amorphous concept? Sanjeev Nanavati ~The writer advises CEOs and company boards on delivering outperformance. He recently stepped down as the longest-serving CEO of Citibank in Malaysia. Currently,
      PHOTO: BLOOMBERG  -  1,020 words
    • Article, Illustration
      Lock icon It’s the season of scandals in Japan
      907 26  -  Resignation of two women ministers and other tales may feed public cynicism about politicians in general LETTER FROM TOKYO Anthony Rowley Tokyo Correspondent THE “scandalous” tale of illicit hand-held fans and sado-masochistic pleasures –all linked to money transactions sounds like something from a
      PHOTO: REUTERS  -  907 words
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  • Wealth
    • Article, Illustration
      Lock icon Geopolitical crisis impact ‘not long term’
      1244 27  -  After initial panic, markets tend to be largely unaffected; investors better off buying on dips or staying put By Genevieve Cua gen@sph.com.sg @GencuaBT Singapore E O P OLI T I CAL crises tend to spark some degree of panic in financial markets. But history
      PHOTO: ARTHUR LEE  -  1,244 words
    • WEALTH INVESTING
      • Article
        Lock icon Global family businesses open US outposts
        1163 29 With riches from Europe, Asia and South America, they’re making direct investments coast-to-coast Bloomberg New York AS the United States powers the global economic expansion in its fifth year, the world’s rich are counting on American companies to help increase their fortunes. At least
        Bloomberg  -  1,163 words
      • BROKERS’ TAKE
        • Article
          Lock icon OCBC
          107 29 Neutral DMG Partners Oct 31 Oct 31 close: S$9.89 Target price: S$10.55 OCBC’S Q3-14 earnings fell 9 per cent quarter-on-quarter mainly because of lower marked-to-market and trading gains. Its acquisition of OCBC Wing Hang added 5 per cent to the earnings, improved OCBC’s funding position and raised its exposure
          107 words
        • Article
          Lock icon Parkway Life Reit
          113 29 Buy DBS Group Research Oct 31 Oct 31 close: S$2.39 Target price: S$2.62 DISTRIBUTION per unit (DPU) of 2.9 Singapore cents in line with expectations; 8.5-8.6 per cent rise in revenues and net property income to S$25.3 million and S$23.7 million respectively. This was mainly driven by
          113 words
        • Article
          Lock icon Indofood Agri Resources
          176 29  -  Compiled by Andrea Soh Hold CIMB Research Oct 31 Oct 31 close: S$0.835 Target price: S$0.82 IFAR’S 9M14 core net profit was broadly in line with our expectations but below consensus, accounting for 66 per cent of our full-year forecast but only 56 per cent of consensus.
          176 words
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      1085 28 ADVERTORIAL TODAY’S THEME Europe, Multi-Asset, Regular Income EUROPE: MEDIUM-TERM OUTLOOK STILL POSITIVE In this final instalment of a three-part series, find out why the medium-term outlook remains promising despite recent volatility. RATING DRIFT: QUALITY KEEPS IMPROVING 10 5 0 -5 -10 -15 -20 -25 -30 -35 0 <2) N b
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon A platform for Malaysians to network
      397 30  -  MASIS aims to foster camaraderie among the over half a million Malaysians living in Singapore By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore THE Malaysian Association of Singapore (MASIS) was officially launched on Friday to foster camaraderie among Malaysians living in Singapore through various activities such
      397 words
    • Article, Illustration
      Lock icon Fancy some chocolate in the raw?
      442 30 AFP Paris “WANT to taste? Come on! It’s a bit like the sashimi of chocolate,” calls out raw chocolate maker Frederic Marr, beckoning the curious to his stall at Paris’s annual chocolate extravaganza, the Salon du Chocolat. Touted as a “super food” by some,
      AFP; PHOTO: AFP  -  442 words
  • Page 30 Miscellaneous
    • Miscellaneous
      Lock icon Page 30 Miscellaneous Column 1
      326 30 CRYPTIC CROSSWORD Across 1 Group of stars is able to set down beside church with Queen (6) 5 Musical note held by fine old mum (8) 9 Depend on touring round motorway without clear views (4-6) 10 Tender loving care covering first of abrasions with this? (4) 11 Decorative ware
      326 words
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      121 31 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. IN 1892 AUDEMARS PIGUET BECAME THE FIRST WATCHMAKER TO PRESENT A STRIKING MINUTE REPEATER IN A WRISTWATCH. THE 2014 MILLENARY MINUTE REPEATER IS THE LATEST EXPRESSION OF THIS PIONEERING SPIRIT. THE EXPOSED CALIBRE OF THE MILLENARY SERIES ALLOWS THE FINE DECORATION
      121 words
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      63 1 LivingBTTHE BUSINESS TIMES WEEKEND NOV 1-2, 2014 DINING Top chefs at pop-up event L5 SAVVY SPINOFFS STYLE Renaissance of Italian labels L6-7 Established F&B players spawn offshoots and add-ons as brand extensions L2-4 PHOTO: THE GOURMET FOOD CO HOME GARDEN Big ideas for tiny apartment L8-9 WINE The Peak's heady
      63 words
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  • DINING
    • Article, Illustration
      Lock icon Savvy spinoffs
      2513 2 / 3  -  After investing much time and effort building their brands, restaurants and food concepts are spawning brand extensions in the form of upscale offshoots and avatars. By Tiong Li Cheng Additional reporting by debyong@sph.com.sg @DebbieYongBT Debbie Yong YOU’RE bound to hear the phrase “same same but different” when you’re
      PHOTOS YEN MENG JIIN; PHOTOS: SAVEUR ART; PHOTO: YEN MENG JIIN; PHOTOS: GRUB NOODLE BAR; PHOTO: THE GOURMET FOOD CO; FILE PHOTOS  -  2,513 words
    • Article, Illustration
      Lock icon Pop-up culinary stars
      846 5  -  Mads Refslund is the Nordic culinary star known for foraging leaves, herbs and fruit from the wild to use in his creations. Nathan Outlaw is the British chef who has a way with seafood. They’ll both be in town cooking for the 4XFOUR pop-up dining event. By
      PHOTOS: MADS RESFLUND; PHOTOS: NATHAN OUTLAW  -  846 words
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  • STYLE
    • Article, Illustration
      Lock icon Flamboyant finesse
      1355 6 / 7  - Flamboyant finess e FlamboyantfinesseItalian fashion is witnessing a quiet renaissance, as brands expand overseas to bolster sales a d ride on their heritag of craftsmanship and quality. By May Yip NO THANKS to chintzy embellishments, OTT fabrications (full-fur, full-leather, ani-mal-everything!) and sec-ond-skin silhouettes, Italian fashion has in recent decades been
      1,355 words
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  • HOME & GARDEN
    • Article, Illustration
      Lock icon Minimal space, maximum impact
      1030 8 / 9  -  Careful planning by Kian Liew ensures that his two-bedroom apartment, while small, is efficiently laid out and has plenty of visual interest. personal space By Tay Suan Chiang taysc@sph.com.sg @T aySuanChiangBT KIAN Liew’s two-bedroom apartment off Newton Circus may look tiny but it sure packs a
      ALL PHOTOS BY YEN MENG JIIN  -  1,030 words
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  • TRAVEL
    • Article, Illustration
      Lock icon Going deep in Vietnam
      1637 10  -  The Hang En cave is one of a few spectacular cave systems in Vietnam big enough to accommodate a Boeing 747. By David W Lloyd By David W Lloyd NYT WAIST-DEEP in cool river water on a sweltering June afternoon, we waded towards the entrance of
      NYT; PHOTO: OXALIS ADVENTURES  -  1,637 words
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  • WINE
    • Article, Illustration
      Lock icon Heady winners
      508 11  -  The Peak’s fifth iteration of the G Top 100 Wines is selected from almost 300 wines from 12 countries Additional reporting by Dylan Tan Wine lovers, take note, your homework has been done so if you are still deciding which bottle to open this weekend, just reach out
      508 words
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      839 11 wine&dine with BTWeekend Marina Mandarin Singapore 6 Raffles BoulevardZ6845-1018 Corporate Events Enjoy premium accommodation paired with ultimate convenience. From S$290++ for a Deluxe Room, enjoy complimentary breakfast and Internet access, perfect for the ultimate business traveller. Top off the experience with our full-day meeting package at S$95++ per person which
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  • HEALTH
    • Article, Illustration
      Lock icon A natural defence against cancer
      1053 12  -  Pomi-T, a whole food supplement, shows effectiveness of polyphenols in slowing down the growth of prostate cancer cells. By Cheah Ui-Hoon By Cheah Ui-Hoon uihoon@sph.com.sg FOR the longest time, supplements have been relegated to the sidelines by the medical community because they didn’t have clinical
      FILE PHOTOS  -  1,053 words
    • Article, Illustration
      Lock icon Heart scans and cancer risk
      1682 13  -  Lower the risk of cancer by choosing a procedure that is non-invasive and has the lowest radiation dose Michael Lim ~Dr Lim is the medical director at the Singapore Heart, Stroke Cancer Centre. He is also editor-in-chief, Heart Asia, a journal of the British Medical
      FILE PHOTO  -  1,682 words
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  • MOTORING
    • Article, Illustration
      Lock icon TYPE R PERSONALITY
      592 14  -  High-performance comes in many shapes and sizes and these are two very different alternatives. By Samuel Ee By Samuel Ee samuelee@sph.com.sg FLAT and wide can either refer to a sandwich that someone has sat on, or the Jaguar F-Type Coupe. The difference is that one doesn’t look
      592 words
    • Article, Illustration
      Lock icon Crossover charisma
      659 15  -  By Samuel Ee samuelee@sph.com.sg IT’S not too hard, and it’s not too soft, so that means the Mercedes-Benz GLA45 AMG 4Matic should be just right for most. The GLA45 is the third AMG model to feature a four-cylinder engine after the A45 and CLA45. The two-litre turbocharged petrol
      659 words
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  • GOLF
    • Article, Illustration
      Lock icon Blissful Bali
      707 16  -  BT checks out 3 courses where golf aficionados can spend their year-end break. By Justine Moss By Justine Moss FOR those thinking about where to spend their end-of-year break for a relaxing golfing holiday, Bali is an excellent choice. Together with a handful of golf courses, there are
      707 words
    • Article, Illustration
      Lock icon Trio to hit the fairways in Sydney
      278 16  -  By Justine Moss A TOTAL of 288 golfers teed off in this year’s PMGA Golf Tournament, which was held over two days this week on Sentosa Golf Club’s Serapong Course. Winners were Ron Yeong, Lim Bee Khoon and Wendy Soh in the Men’s
      278 words
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