The Business Times, 3 February 2015

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Microfilm: NL33374
Total Pages: 60
1 36 The Business Times
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  • Title Section
    Lock icon Masthead
    24 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G C ©BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 Tuesday, February 3,2015
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  • DAILY DIGEST
    • Article
      Lock icon Asian central banks
      29 1 will be more dovish than expected in 2015 and stronger disinflation is still to come, says a Credit Suisse report released on Monday. TOP STORIES 2
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    • Article
      Lock icon Cross-border capital
      37 1 is becoming more prevalent when it comes to mergers and acquisitions in the hospitality industry, with the flow of money from Asia into North America, Europe and Australia expected to continue rising. TOP STORIES 3
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    • Article
      Lock icon While homebuyers
      36 1 are expected to service higher monthly mortgages on the back of rising interest rates, some consultants believe it is still an opportune time to snap up units amid falling home prices. REAL ESTATE /10
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    • Article
      Lock icon Heinz-Peter Mang is obsessed
      35 1 with turning human waste into gold. As millions of Chinese move to cities, the German engineer is convinced the country is on the way to hitting the jackpot. ENERGY COMMODITIES 12
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    • Article, Illustration
      Lock icon Macau’s casino revenue
      35 1 slumped an eighth straight month in January for the longest losing streak on record, and there are growing expectations the pain will persist another year as China’s clampdown on graft intensifies. CONSUMER/15
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    • Article
      Lock icon AT least 40 major US
      33 1 companies have substantial exposure to Venezuela’s deepening economic crisis, and could collectively be forced to take billions of dollars of writedowns, a Reuters analysis shows. GOVERNMENT ECONOMY /17
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    • Article
      Lock icon Budget carrier Scoot
      25 1 which has taken delivery of its first Dreamliner, is likely to operate its next two Boeing 787s to Australia and Thailand. TRANSPORT/18
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  • Article
    Lock icon EDB sees investments slowing further in the years ahead
    644 1  -  Forecast of S$9-11 billion is based on a benign global environment and the absence of any major shocks By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore INVESTMENT commitments in Singapore is set to ease further from S$ 11.8 billion last year to
    644 words
  • Article
    Lock icon CPF rethink needs to address structural retirement inadequacy
    790 1  -  BT Pre-Budget Roundtable suggests going beyond withdrawal age and limits to examine CPF returns By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT Singapore SINGAPORE’S Central Provident Fund (CPF) system must go beyond tweaks to the withdrawal age and minimum sum, to address the structural
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  • Article
    Lock icon MARKETS
    26 1 Monday Change STI 3,423.35 (+32.15) KL COMP 1,781.26 (-0.92) NIKKEI 225 17,558.04 (-116.35) HANG SENG 24,484.74 (-22.31) SHENZHEN B 1,064.41 (-5.63) DOW(11am EST) 17,132.16 (-32.79)
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  • Page 1 Advertisements
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      Lock icon Page 1 Advertisements Column 1
      256 1 Hill 8 '*****1 *****4 BUILDING A STRONG SUCCESSION PIPELINE Keppel Corp boosting in-house capabilities to groom leaders COMPANIES MARKETS 5 PM LEE IN GERMANY Many opportunities for Singapore firms in Dresden, says PM Lee TOP STORIES 4 SEAT IN ISO COUNCIL Singapore at the forefront of setting standards sme/24 FALLING
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      Lock icon Page 1 Advertisements Column 2
      30 1 Productivity is a marriage of hardware and software OPINION/21 The low leverage path to wealth in real estate. In the latest Wealth magazine Free with your copy of BT today
      30 words
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  • TOP STORIES
    • Article, Illustration
      Lock icon More dovish Asia monetary policy expected
      561 2  -  Growth in region is expected to remain lacklustre in first half of 2015, before picking up in second half: Credit Suisse By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore ASIAN central banks will be more dovish than expected in 2015 and stronger disinflation is still to
      Source: Bloomberg, Credit Suisse  -  561 words
    • Article
      Lock icon EDB now wearing more hats
      298 2  -  Attracting investments aside, it’ll transform firms to be more competitive and create new businesses By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore THE Singapore Economic Development Board (EDB) will be doing more of what its name says, in addition to what it has been doing mostly
      298 words
    • Article, Illustration
      Lock icon January manufacturing growth remains at slow pace
      951 2 LATEST US DATA month after adjusting for inflation. REUTERS, BLOOMBERG Washington The US manufacturing sector expanded in January at roughly the same pace as in December, holding at the slowest rate of expansion in a year’s time, according to an industry report released
      month after adjusting for inflation. REUTERS, BLOOMBERG; PHOTO: BLOOMBERG  -  951 words
    • Article
      Lock icon Asian investors to continue key role in hotel deals outside region: EY report
      585 3  -  China was one of Asia’s most active hotel buyers in 2014, followed by Japan and Singapore By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore CROSS-BORDER capital is becoming more prevalent when it comes to mergers and acquisitions (M&A) in
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    • Article, Illustration
      Lock icon China factories struggle, raising deflation fears
      683 3 REUTERS Sydney THE risk of global deflation looms large for 2015 as surveys of China’s mammoth manufacturing sector showed excess supply and deficient demand in January drove down prices and production. While the pulse of activity was livelier in Japan, India and South Korea,
      REUTERS; PHOTO: AFP  -  683 words
    • Article, Illustration
      Lock icon Many opportunities for Singapore firms in Dresden, says PM Lee
      744 4  -  Recent protests not likely to affect companies’ decisions to invest in the eastern German city By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Dresden, Germany THE recent anti-Islam protests in Dresden are unlikely to have an adverse impact on the decisions by Singapore
      PHOTO: DESMOND FOO/THE STRAITS TIMES  -  744 words
    • Article
      Lock icon S’pore SMEs urged to work hard at differentiating themselves
      503 4  -  IE official lists a number of factors that SMEs must have in order to be successful in the long run By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Dresden, Germany SINGAPORE companies, especially the small and medium-sized enterprises (SMEs), must work hard at differentiating
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    • Article
      Lock icon PM Lee calls for revision of registers of electors
      555 4  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore PRIME Minister Lee Hsien Loong has called for a revision of the registers of electors, which should be completed no later than April 30 this year, according to a statement released by the Elections Department
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  • Page 2 Advertisements
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      Lock icon Page 2 Advertisements Column 1
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      137 3 Leave a legacy Inherit the advantage As a leader in helping high net worth individuals grow and preserve their wealth, we understand that legacy planning is pivotal in ensuring your heritage of success endures. At Prudential, we have the expertise to ease estate planning, grow and preserve wealth, thus providing
      137 words
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      Lock icon Page 4 Advertisements Column 1
      274 4 FUTURE i l t I I l S I I iff CHINA ADVANCED LEADERS PROGRAMME Grooming future leaders to he “China-ready” “China-savvy” and “Connected” REGISTRATION CLOSING SOON APPLY NOW! !1 1 really like the hands-on and very practical experience that we have in the second segment where the whole class
      274 words
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Keppel boosting in-house capabilities to groom leaders
      614 5  -  CEO loh Chin Hua plans to cast the net wide to build a strong succession pipeline within the group By Malminderjit Singh msingh@sph.com.sg @MalminderjitBT Singapore KEPPEL Corporation will be expanding its in-house capabilities to groom leaders as it aims to fully harness human
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    • Article
      Lock icon KepLand appoints KPMG as independent financial adviser
      150 5 Singapore KEPPEL Land on Monday said that it has appointed KPMG Corporate Finance Pte Ltd as the independent financial adviser (IFA) to advise its independent company directors on the offer by Keppel Corp. A circular containing the IFA’s advice as well as the
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    • Article
      Lock icon Guocoleisure Q2 profit up 8% at US$14.8m
      504 5  -  By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore GUOCOLEISURE posted a net profit of US$14.8 million for the second quarter ended December 2014, up 8 per cent from US$13.7 million a year ago. The diversified investment’s revenue over the period slipped 6.7 per cent to
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    • Article, Illustration
      Lock icon Jan buybacks slow from Dec, but still elevated from year ago
      432 6  -  Singapore-listed firms buy back total of 100.1m shares, according to ShareInvestor.com By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore SINGAPORE-LISTED companies continued to buy back more of their own shares in January from year-ago levels, but the pace has slowed down
      Source: ShareInvestor.com  -  432 words
    • Article
      Lock icon Fortune Reit manager names chairman’s daughter as CEO
      180 6  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THE manager of Fortune Reit on Monday named Justina Chiu Yu, 34, as chief executive officer, as part of its succession planning, it said. Ms Chiu is currently the deputy CEO and executive director of the
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    • Article
      Lock icon Revaluation, disposal gains boost IPC’s FY14 earnings
      273 6  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore Singapore GAINS from the revaluation of investment properties in Japan, as well as disposal of others, boosted IPC Corporation’s FY14 net profit by 57.1 per cent to S$28.6 million. This was despite the property developer and hospitality
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    • Article
      Lock icon Better results, payout lift Micro-Mechanics
      345 6  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore SHARES of Micro-Mechanics Holdings a mainboard-listed manufacturer of high precision tools, parts and assemblies for high technology industries rose by some 8.13 per cent on Monday to close trading at the day’s high of S$0.665. The shares, which were
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    • Article
      Lock icon Japfa to pay US$5.7m for remaining 15% of Myanmar subsidiary
      505 6  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore AGRI-FOOD company Japfa on Monday said it has acquired the remaining 15 per cent of its Myanmar subsidiary Japfa Comfeed Myanmar (JCMA) for US$5.7 million, making JCMA a wholly owned subsidiary of the Japfa
      505 words
    • Article
      Lock icon Low Keng Huat acquiring 20% stake in AXA Tower
      332 7  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore LOW Keng Huat (Singapore) Limited (LKHS) said that it is acquiring a 20 per cent stake in AXA Tower as part of the consortium led by Perennial Real Estate Holdings Limited (PREH) to acquire the
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    • Article
      Lock icon STATS ChipPAC’s FY14 results ‘credit negative’: Moody’s
      309 7  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore CREDIT rating agency Moody’s on Monday called STATS ChipPAC’s weak FY14 results credit negative, but said that this will not have an immediate impact on its Ba3 corporate family rating and senior unsecured rating. The ratings remain
      309 words
    • Article, Illustration
      Lock icon Taiwan’s KGI completes acquisition of AmFraser for S$38m
      273 7  -  KGI Fraser will drive regional growth in major Asian markets By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore SINGAPORE stockbroking firm AmFraser Securities has been formally acquired by Taiwan’s KGI Securities for S$38 million and rebranded as KGI Fraser Securities, a wholly owned subsidiary
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    • Article, Illustration
      Lock icon STI / Catalist
      63 8 STI Catalist Straits Times Index Feb 2,2015 3,423.35 +32.15 (+0.95%) Current streak 1 day Day high 3,423.35 Day low 3,394.54 52-week high 3,423.35 (Feb 2, 2015) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist index Feb 2,2015 744.01 +1.3 (+0.18%) Current streak 1 day Day high 746.81 Day low
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    • Article, Illustration
      Lock icon Anticipation of Wall St rebound lifts STI
      621 8  -  Jardine group and banks lead gains; market turnover was S$1.3b, down from last Friday’s S$1.8b STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THE Straits Times Index (STI) on Monday bounced 32.15 points or 0.95 per cent to 3,423.35 points in anticipation of Wall Street
      Source: Bloomberg  -  621 words
    • Article
      Lock icon STI STOCKS
      306 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 254 +8 254/248 263 206 5.6 6422 CapitaLand 352 +4 352/343 364 268 17.6 2.3 *****.9 CapitaMall Trust 210 xd +1 210/205 226 180 5.2 7283.4 CityDev 1012 +7 1015/1005 1118 860
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    • Article
      Lock icon MOST ACTIVE
      35 8 VOLUME Pacific Andes 97,418,800 Vallianz 95,494,500 IHC 75,101,100 Noble 46,134,400 Golden Agri-Res 43,234,400 Market volume 1,509,647,000 VALUE SingTel 79,303,734 DBS Grp 73,453,783 Keppel Corp 64,985,005 OCBC Bank 62,512,592 Noble 49,732,766 Market value 1,282,539,000
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    • Article
      Lock icon SGX ETFs
      106 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS India US$ US797 663 798/788 1000/541 793/797 99.6 DBXT MSAsExJp US$ US3697 565 -/-3808/2802 3613/3624 8.5 STI ETF 341 xd 230 342/339 349/298 341/342 UETF SSE50China 213 -6 59 219/212 238/140 212/214 66.6 DBXT
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Feb 2 VALUE CLOSE BT OB/OS 399.00 -2.00 BT CADI -*****.00 -52.00 BT 10-day MA -*****.00 +40.00 FTSE ST Mid Cap 785.86 +2.47 FTSE ST Small Cap 503.48 -0.86 FTSE ST All Share 823.50 +6.32 FTSE ST China Top 197.24 +1.00 FTSE ST China 236.31 +2.69 FTSE
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    • Article
      Lock icon GAINERS
      70 8 BY CENTS CLOSE UP 52w high/low GLD US$ ***** 194.8 1.2 *****/***** JMH USD 6480 98.8 1.1 6788/4934 JSH USD 3559 75.8 1.6 3810/3006 UOB 2350 32.0 1.4 2472/1940 HongkongLand USD 760 25.7 2.6 830/584 BY PERCENTAGE CLOSE UP 52w high/low Asiatravel W*****5 0.3 50.0 0.1 16.5/0.2 Huan Hsin
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 8 STI FTSE ST All-Share FTSE ST All-Share index Feb 2,2015 823.50 +6.32 (+0.77%) Current streak 1 day Day high 823.50 Day low 817.98 52-week high 824.13 (Jan 28, 2015) 52-week low 722.35 (Feb 5, 2014)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE index Jan 30,2015 1,782.70 -9.33 (-0.52%) Current streak 3 days Day high 1,797.31 Day low 1,781.69 52-week high 1,995.49 (Jul 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 7 4 0 0 0 5 7 4 Manufacturing 48 55 28 4 11 7 52 66 35 Commerce 15 28 20 1 7 9 16 35 29 Tpt/Stor/Comms 13 11 16
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 30,657 30,657 120,668 120,668 Manufacturing 238,439 29,006 267,445 120,383 1,876 122,259 Commerce 102,102 106,150 208,252 99,601 7,955 107,556 Tpt/Stor/Comms 135,698 765 136,463 251,718 234 251,953 Finance 18,210 46 18,256 179,102 10 179,112 Construction 52,586 10,490
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    • Article
      Lock icon LOSERS
      77 8 BY CENTS CLOSE DOWN 52w high/low DBXT STGLDv US$ 3206 -102.8 -2.3 3542/3042 DBXT Nifty US$ ***** -70.4 -0.4 *****/9759 DBXT Chia50 US$ 3323 -63.6 -1.4 3480/2577 DBXT S&P500 US$ 3350 -52.8 -1.2 3490/2880 Lyxor Nasdaq US$ 1667 -41.9 -1.8 1800/1379 BY PERCENTAGE CLOSE DOWN 52w high/low ChinaGaoxian W*****8
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    • Article
      Lock icon UNUSUAL ACTIVITY
      80 8 VOL CLOSE($) CHANGE UniFiber System 27,206.1 0.013 +0.003 +30.00 HuanHsin^ 4,881.0 0.056 +0.015 +36.59 Micro-Mechanics 349.0 0.665 +0.050 +8.13 Changjiang Fert 60.0 0.028 +0.003 +12.00 Hai Leck 786.9 0.265 -0.030 -10.17 Regal Intl 509.7 0.650 +0.060 +10.17 Luxking 230.0 0.019 +0.002 +11.77 TheHourGlass 933.8 0.810 +0.075 +10.20 Sinarmas
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    • BROKERS’ TAKE
      • Article
        Lock icon Frasers Hospitality Trust
        150 8 BUY Feb 2 close: S$0.895 Target price: S$0.94 DBS Equity Research, Feb 2 FRASERS Hospitality Trust’s maiden results for the period between July 14 and Dec 31, 2014, were in line with expectations. Distribution per unit of 2.97 Singapore cents (which includes as yet un-repatriated income from
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      • Article
        Lock icon Golden Agri-Resources
        122 8 SELL Feb 2 close: s$0.42 Target price: S$0.45 OCBC Investment Research, Feb 2 GOLDEN Agri-Resources’ share price recently hit a fresh 52-week low of S$0.41 (on Jan 22 and 23), no doubt weighed by the recent pullback in crude palm oil (CPO) prices. Although the stock did make
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      • Article
        Lock icon StarHub
        213 8  -  Compiled by Claire Huang HOLD Feb 2 close: S$4.23 Target price: S$4.40 Phillip Securities Research (Singapore), Feb 2 WHILE increasing availability of premium TV content via streaming or other Over the Top services may curtail growth in its Pay TV customer base, we think StarHub could still maintain its
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    • Article
      Lock icon CALENDAR
      10 8 DATA I 9.30pm (Feb 3) Singapore Purchasing Managers Index
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    • Article
      Lock icon Swiss franc hits 2-week low against euro, US$
      404 9 CURRENCIES London THE Swiss franc hit a two-week low against the euro and the US dollar on Monday, on signs that the Swiss National Bank (SNB) was intervening to weaken the currency and a report it was targeting a new exchange rate
      404 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Feb 2 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 4.874 0.688 6.038 48.112 98.747 0.916 8.582 2.827 1.072 78.824 34.380 1.054 9.048 0.724 24.622 25.370 0.518 0.779 Canada 1.008 4.913
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      • Article, Illustration
        Lock icon HANG SENG
        2 9
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      • Article, Illustration
        Lock icon NIKKEI
        1 9
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 9
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      • Article, Illustration
        Lock icon DOW JONES
        2 9
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 9 Feb 2 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0533 1.0537 0.7786 0.7788 Canadian dollar 1.0614 1.0621 0.7850 0.7846 Euro 1.5306 1.5313 1.1314 1.1318 NZ dollar 0.9825 0.9835 0.7263 0.7269 Sterling pound 2.0347 2.0357 1.5041 1.5046
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Feb 2 S$ Bid Offer 1-month 1.3532 1.3535 2-months 1.3540 1.3545 3-months 1.3542 1.3547 6-months 1.3553 1.3558 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        209 9 Feb 2 Most active Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left OCBC Bk MB eCW*****3 6.4 0.2 5631 0.2 1060 2 Rowsley Ltd W*****3 4 -0.1 5531 1 18 20 FTSEChinaA50 ***** MBeCW*****8 14.5 -1.4 3084 0.0 3
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 9 In local curr In S$ In US$ dy yr dy yr dy yr Jan 30 Index Change Change Change Change Change Change World Preliminary 1270.4 -0.7 -0.4 -0.6 0.4 -0.8 -1.7 EAFE Preliminary 1016.0 -0.4 3.0 -0.4 2.6 -0.5 0.4 Europe Preliminary 1434.3 -0.6 3.8
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        362 9 Feb 2 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.61 *****.40 *****.45 Mar15 *****.00 *****.00 *****.00 *****.00 ***** *****4 Jun15 *****.00 *****.00 *****.00 *****.00 12 4151 MSCI TAIWAN INDEX FUTURES SPOT 346.04 347.97 345.72 Feb15 347.70 349.20 345.50 348.50 ***** *****2 Mar15 347.60
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    • BANK RATES
      • Article
        Lock icon SIBOR
        36 9 Feb 2 (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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      • Article
        Lock icon INTERBANK RATES
        154 9 Feb 2 $S Offer Bid 0vernight 0.35 0.25 1-month 0.625 0.50 2-months 0.625 0.50 3-months 0.6875 0.5625 Overnight mode: 0.30 US$ Offer Bid 7 days 0.17 0.07 1 month 0.23 0.13 2 months 0.28 0.18 3 months 0.40 0.20 6 months 0.50 0.30 9 months 0.60 0.40 12
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      • Article
        Lock icon GOVERNMENT SECURITIES
        71 9 Feb 2 Feb 2 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 103.29 103.35 103.35 5-Year N*****0H 1.625 01-Oct-19 101.13 101.30 101.22 10-Year NY*****H 3.000 01-Sep-24 109.89 110.35 109.95 15-Year NY*****E 2.875 01-Jul-29 108.12 108.50 108.30 20-Year NZ*****V 3.375
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        249 9 Jan-30 Price Net change change Last Trade Agricultural Jan-30 CBOT Soybeans (US cents/bu) 961.00 -7.25 -0.75% 13/03/2015 CBOT Soybean Oil (US cents/lb) 30.00 0.46 1.56% 13/03/2015 CBOT Wheat (US cents/bu) 502.75 -5.00 -0.98% 13/03/2014 Jan-30 LIFFE Cocoa (£/tonne) 1905.00 5.00 0.26% 16/03/2015 LIFFE Coffee (US$/tonne) 1921.00 0.00 0.00%
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      27 6 Stay up-to-date with our stories, analysis and infographics btd.sg/budget_15 2 Budget 2015 BusinessTimes.com.sg BTofeital Available on the H get it on B AppStore Coogle play thebusinesstimes btbreakingnews
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  • REAL ESTATE
    • Article
      Lock icon Buyer-occupiers urged to act on falling S’pore prices
      700 10  -  Rising mortgage costs to affect servicing ability, but impact is not expected to be significant: Colliers By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore WHILE homebuyers are expected to service higher monthly mortgages on the back of rising interest rates, some consultants believe it
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    • Article
      Lock icon Hyundai Motor plans to build tallest skyscraper in South Korea
      357 10 BLOOMBERG Seoul SOUTH Korea’s largest carmaking group plans to build a 5 71-metre tower in Seoul that will wrest the bragging rights of owning the country’s tallest skyscraper from its biggest de-partment-store operator. Hyundai Motor Group submitted plans to build
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      Lock icon Further rate cut could overheat Norway property
      390 10 BLOOMBERG Oslo ANOTHER rate cut in Norway could mark the tipping point for its housing market. As the central bank signals a 50-50 chance it may need to keep lowering rates to tackle a slowdown in western Europe’s biggest oil producer, Norway’s mortgage
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      Lock icon Kaisa CEO’s departure dashes hopes of near-term rescue deal
      525 10 REUTERS Hong Kong CHINA’S Kaisa Group said on Monday that its CEO has resigned a further blow to the embattled property developer despite having sold some assets at the weekend to ease its short-term cash worries. The company said that Jin
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      196 10 EXCLUSIVE SHOPHOUSE ALONG SULTAN GATE A RARE STANDALONE SHOPHOUSE WITHIN KAMPONC CLAM 3 t* Full Commercial Zoning; No ABSD; Foreigners eligible to buy Located along Sultan Gate, off Beach Road 1 Enjoys dual frontage from Sultan Gate and Pahang Street Land Area: Approx. 7,401 sf 1 Total Floor Area: Approx.
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  • BANKING & FINANCE
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      Lock icon S&P settles case with US Justice Department by backing down
      699 11 Credit rating agency had portrayed lawsuit as an act of “retaliation” for cutting US credit rating in 2011 NYT New York STANDARD Poor’s (S&P), the giant credit rating agency accused of inflating the sub-prime mortgage bubble, had long been convinced
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      Lock icon European banks may soon have to account for govt debt risk
      774 11 BLOOMBERG Brussels THE days of European lenders being allowed to load up on government debt without having to account for risk are numbered, according to Daniele Nouy, the euro area’s top bank supervisor. A regulatory loophole that allows banks
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      Lock icon US govt quizzes former Moody’s executives
      241 11 BLOOMBERG New York THE US Justice Department is seeking to advance a more-than-five-year probe into whether Moody’s Investors Service inflated ratings during the US housing boom, according to three people familiar with the matter. The US government is continuing interviews with former Moody’s executives
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    • Article
      Lock icon Everbright Securities may buy Sun Hung Kai unit
      268 11 BLOOMBERG Hong Kong EVERBRIGHT Securities Co, China’s eighth-biggest brokerage, is nearing an agreement to buy control of Sun Hung Kai Co’s securities and wealth-management businesses for about US$500 million, people with knowledge of the matter said. Everbright Securities will acquire about 70
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      145 11 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 a degree in
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  • ENERGY & COMMODITIES
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      Lock icon Turning human waste into ‘black gold’ in China
      957 12 The push to repurpose faeces into energy resources or fertiliser is expanding as its cities become more crammed BLOOMBERG Hong Kong HEINZ-PETER Mang is obsessed with turning human waste into gold. As millions of Chinese move to cities, the German engineer is
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      Lock icon US oil workers strike enters second day
      657 12 BLOOMBERG San Francisco THE strike by oil workers at plants accounting for 10 per cent of US refining capacity entered a second day on Monday in the biggest walkout since 1980. The United Steelworkers (USW) union that represents employees at more than 200
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    • Article
      Lock icon ECB’s QE not expected to give commodities much of a boost
      607 12 REUTERS London BEATEN down commodity prices are unlikely to get much relief from an expected one trillion euros (S$1.53 trillion) of monetary stimulus in Europe, as the plan is very different from the US version several years ago that
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    • Article
      Lock icon Thailand plans to slash rice production; aims to reduce glut, boost prices
      474 12 BLOOMBERG Bangkok THAILAND, the world’s biggest rice exporter, plans to cut production to reduce a local surplus and boost prices, complementing a drive by the government to sell record stockpiles that are clogging warehouses nationwide. Rough-rice output may
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      41 12 Hospitality Investment Conference Indian Ocean Maldives Mauritius Seychelles Sri Lanka 25 26 May 2015 Colombo, Sri Lanka A New Era i 1 J L&pJS Contact Michelle at +65 6848 5374 or email her at michelle@sphereconferences.com for sponsorship opportunities Organiser: sphere www.hicio.sphereconferences.com
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      4745 13 VOLUNTARY CONDITIONAL CASH PARTIAL OFFER by CANACCORD GENUITY SINGAPORE PTE. LTD. (Incorporated in the Republic of Singapore) (Company Registration Number: *****3620D) for and on behalf of MAMEZOU HOLDINGS CO., LTD. (Incorporated in Japan as a stock corporation (Kabushiki Kaisha) with limited liability on 11 November 1999) (Company Registration Number: 0111-01-*****3)
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  • TECHNOLOGY
    • Article, Illustration
      Lock icon Breaking barriers with Europe’s young moguls-to-be
      1073 14 Youngsters go beyond stagnant EU economy, rigid education systems to excel in entrepreneurship NYT Madrid WHEN Jordan Casey took to the stage to present his technology business, he jumped onto the platform rather than walking up the access ramp. Entrepreneurial energy? Yes, but also
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      Lock icon NetSuite boosts property portal’s expansion
      870 14  -  Cloud-based business management solutions provider helps PropertyGuru consolidate its disparate systems By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore FLEXIBLE cloud-based business management solutions are allowing many SMEs (small and medium-sized enterprises) to expand rapidly, not only in Singapore but regionally. San Mateo, California-based NetSuite is
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      250 14 THE BUSINESS TIMES NOTICES For Sale By Tender Online Auction February and March 2015 Oecommissioned 600MW Generating Plant at Tuas Power Station, Singapore Commissioned: 1999 Total Equivalent Operating Hours 45,000 Steam Turbine: Hitachi, TC4 33.5, 3 cylinders, tandem compound, four flow exhaust, reheat condensing type. Generator: Hitachi Ltd, 710 MVA
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      19 14 Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices
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      25 14 One man’s junk is another man’s treasure Shop second-hand or sell your possessions in CLASS 162 To advertise, call the Print Classified Hotline: 1800-289 9988
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  • CONSUMER
    • Article, Illustration
      Lock icon Macau casinos hit worst streak ever as graft fight intensifies
      777 15 Total gross gaming revenue in world’s biggest gambling hub falls 17.4% to 23.7b patacas last month BLOOMBERG Singapore MACAU’S casino revenue slumped an eighth straight month in January for the longest losing streak on record, and there are growing expectations
      BLOOMBERG; PHOTO: BLOOMBERG  -  777 words
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      Lock icon New York City sticks to ‘keep them coming’ tourism mantra
      750 15 NYT New York MAYOR Bill de Blasio may have diverged from his predecessor’s path several times in his first year in office, but when it comes to tourists, he has embraced Michael Bloomberg’s rallying cry: Keep them coming. Mr De
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    • Article
      Lock icon App firm to launch online grocery shopping in Thailand
      363 15 REUTERS Bangkok JAPAN-BASED messaging app company Line Corp IPO-LINE.T is launching an online grocery delivery service, its first ever, in Thailand and plans to expand it to other Southeast Asian nations to tap booming growth in the region’s mobile phone transactions.
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      1060 15 THE BUSINESS TIMES NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF PETROLINE SHIPPING PTE. LTD. Company registration no. *****2323M (In Members' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50 that the
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      1090 15 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF VERACRUZ SHIPPING PTE LTD Company registration no. *****1836W (In Members' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50 that the Final Meeting of the
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  • GOVERNMENT & ECONOMY
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      Lock icon Obama proposes US$3.99t budget
      672 16 This sets up a battle with Republicans over programmes to boost middle class funded by higher taxes on wealthy REUTERS Washington PRESIDENT Barack Obama on Monday proposed a US$3.99 trillion budget for fiscal year 2016 that sets up a battle with Republicans over programmes to boost
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      Lock icon Aussie dollar plunge expected to continue
      851 16 Citigroup sees currency falling another 3.6% in three months after it slid 5.1% in January BLOOMBERG Tokyo NOT since 2009 has Australia’s dollar tumbled so far in the first month of the year. And the world’s biggest foreign-exchange trader says the pain is far
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      Lock icon Denmark tests QE as central bank seeks new ways to save its euro peg
      738 16 BLOOMBERG Copenhagen DENMARK is now exploring unconventional policy steps to protect its euro peg after an unprecedented series of in-terest-rate cuts failed to deter investors and speculators from hoarding kroner. “We’re addressing what measures to take
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      Lock icon Venezuela currency woes: US firms face massive writedowns
      1221 17 Most exposure is concentrated among 10 firms that disclosed US$7.3b in assets linked to Venezuela’s currency system REUTERS New York AT least 40 major US companies have substantial exposure to Venezuela’s deepening economic crisis, and could collectively be forced to take billions
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    • Article
      Lock icon Australia’s Queensland state election threatens A$37b asset sale plan
      554 17 BLOOMBERG Melbourne THE Liberal National Party’s potential ouster from power in Australia’s Queensland state threatens to derail a programme to sell A$37 billion (S$39 billion) of assets including electricity grids, power stations and ports. State Premier Campbell Newman, who lost his
      BLOOMBERG  -  554 words
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      Lock icon Tony Abbott drops parental leave plan
      516 17 Sydney AUSTRALIAN Prime Minister Tony Abbott on Monday dropped a signature plan for paid parental leave and promised a more consultative approach on economic and security problems, seeking to stave off mounting criticism of his leadership. Mr Abbott, 16 months in the top job,
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      1547 17 Rise in benchmark interest rate likely to offset impact of weak loan demand on local banks 3’/2&6 on local banks To subscribe, call 6388-3838 or go to sphsubscription.com.sg IN THE MATTER OF THE COMPANIES ACT CAP. 50 AND IN THE MATTER OF SANG FEI MOBILITY PTE. LTD. (Co. Reg. No.
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  • TRANSPORT
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      Lock icon Scoot eyes Australia, Thai destinations with B787
      608 18  -  The budget carrier, whose first Boeing 787 arrived on Monday, is looking at operating the next two Dreamliners to Sydney, Gold Coast and Bangkok By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore BUDGET carrier Scoot, which has taken delivery of its first Dreamliner, is likely
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      Lock icon Hard-driving Uber goes on charm offensive
      1026 18 NYT New York TRAVIS Kalanick did not build Uber into a global force by playing nice. Mr Kalanick, the chief executive of Uber, a ride-hailing service, aggressively pushed the startup into new markets, taking combative stances towards regulators and the powerful taxi industry and
      NYT; PHOTO: AFP  -  1,026 words
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      Lock icon Qatar Airways acquires close to 10% stake in BA parent
      897 18 NYT Paris QATAR Airways said that it had acquired a 9.99 per cent stake in International Airlines Group (IAG), parent company of British Airways and Iberia of Spain, deepening a commercial partnership with the group and further extending the emirate’s
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      Lock icon Irish PM seeks ‘cast iron’ guarantees on Aer Lingus sale
      432 18 REUTERS Dublin THE owner of British Airways must provide some sort of “cast iron permanent guarantee” on flights to Ireland if the government is to even consider its bid for Aer Lingus, Prime Minister Enda Kenny said. Aer Lingus’ board
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    1000 19 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville Hyundai Highway 299E 04 Feb 28 Feb 16 Mar 19 Mar 23 Mar 25 Mar 27 Mar 30 Mar 06 Apr 08 Apr 08
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      180 19 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced sh;’p maintenance services wanted. Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 Announce Your Corporate Development Come publicise
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  • OPINION
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      Lock icon Greek challenge will put eurozone’s crisis strategy to the test
      555 20 EDITORIAL WHETHER the European Union (EU) lenders and the International Monetary Fund (IMF) like it or not, they are in for a tough time over Greece’s debt crisis. The new Syriza-led government is determined to get either a substantial write-off
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      Lock icon Europe’s Greek test
      849 20  -  THE BOTTOM LINE By Paul Krugman NYT IN THE five years that have passed since the euro crisis began, clear thinking has been in notably short supply. But that fuzziness must now end. Recent events in Greece pose a fundamental challenge for Europe: can it get past
      NYT  -  849 words
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      Lock icon Reigniting America’s cultural wars
      1174 20  -  The huge box-office success of Eastwood’s American Sniper has stirred a wide-ranging debate among Americans over issues central to their national identity and political philosophy By Leon Hadar IT is not surprising perhaps that some of the most heated public debates in the United States have
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    • Article
      Lock icon Opec faces a new energy world, and it better realise that
      995 21  -  COMMENTARY By G Panicker WEAK oil prices were inevitable once the largest and most profligate petroleum user found a way to extract crude from its stubborn rocks. Consequently, a capacity glut by the end of the decade was also
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    • Article
      Lock icon KepCorp offer: Shift in vested powers between board, shareholders?
      1073 21  -  By Mak Yuen Teen T The writer is associate professor of accounting at the nus Business School where he teaches corporate governance and ethics IN the letter “Shareholder nod not needed in Keppel Corp bid: SGX” (BT, Jan 31), Singapore Exchange
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      Lock icon Productivity is a marriage of hardware and software
      938 21  -  If the Productivity and Innovation Credit scheme can address broader innovation and transformative activities, it could lead to activities that bring about change. BY HARVEY KOENIG T The writer is a tax partner in KPMG, Singapore THE next time you check into
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  • LIFE & CULTURE
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      Lock icon Sweaty workouts sweeping Hong Kong
      937 22 With a burgeoning interest in getting healthy, people in the city are forking out HK$2,000 or more each month for amped-up workouts WP Hong Kong JUST down the road from Hong Kong’s popular night clubs dragon-i and Tazmania Ballroom, another venue opened last year with
      WP; PHOTO: BLOOMBERG  -  937 words
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      Lock icon Bold addition to Paris skyline gets art to match
      902 22 NYT Paris WHEN it opened in October, the Louis Vuitton Foundation museum was such an audacious addition to the landscape here that all eyes were on the architecture and its creator, Frank Gehry. At the time, it seemed that the art
      NYT; PHOTO: IWAN BAAN  -  902 words
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      Lock icon Spain’s humble tapas goes gourmet
      609 22 AFP Madrid LONG taken for granted as a mere bar snack, Spain’s humble tapas has graduated from the neighbourhood cafe to the realm of haute cuisine. Inspired by its simplicity and versatility, top Michelin-starred chefs are taking on the traditional finger-food to whet the appetite,
      AFP; PHOTO: AFP  -  609 words
  • Page 22 Miscellaneous
    • Miscellaneous
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      325 22 CRYPTIC CROSSWORD Across 4 The cream to play against Wolves (4,4) 8 Duck beyond river grabbed by some other bird (6) 9 Symbols in old books stored in country (8) 10 Conservative getting found out fell apart (8) 11 Payment covered by parent always (6) 12 One in sheltered accommodation’s
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      202 23 BUSINESS EXCELLENCE AWARDS WINNERS SHARING CONFERENCE 10 March 2015, 9.00am 5.30pm Resorts World Convention Centre Learn and be inspired by the best! Discover the secrets of success from seven organisations which won the 2014 Business Excellence (BE) awards. They will share insights on how the BE framework is used to
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  • SME
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      Lock icon At the forefront of setting standards
      1456 24  -  With a seat in the ISO Council, Singapore can now influence policies that support international trade and capacity building in the region. BY MINDY TAN tanmindy@sph.com.sg @MindyTanBT AS OF January this year, Singapore has been elected into the International Organisation for Standardisation (ISO) Council
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    • Article, Illustration
      Lock icon Change while you’re ahead
      1134 23  -  Concorde Security is spearheading industry change with its inventions to improve working conditions of security guards.BY guards.BY FIONA LAM fionalam@sph.com.sg FOR a decade, security guard Tamilselvan A/L Poongan endured 12-hour shifts, worked even on weekends and public holidays, and brought home a basic monthly pay of
      PHOTO: YEN MENG JIIN  -  1,134 words
    • Article
      Lock icon About the i-Man Facility Sprinter (IFS)
      152 23  -  By Fiona Lam fionalam@sph.com.sg I IFS is a large van containing a high-tech surveillance system. It streams live video from CCTVs in buildings. Each vehicle is manned by three officers. I After office hours, each three-man IFS team monitors a cluster of 30 buildings,
      152 words
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      46 24 Not Just IT. We Deliver Trust. Your IT Service Provider Partner gpM® 'IK %<r: Q o o Stone Forest IT www.StoneForestlT.com Hotline+65 6594 7594 For enquiries, email to ITSales@StoneForestlT.com D nn Sage CRM ffl Sage 300 ERR <f IT Outsourcing IT Infrastructure in U7 Network Security
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      30 1 FEBRUARY 2015 SPOTLIGHT KISHIN R K Gunning for the big time ROUNDTABLE Where to invest in 2015 REAL ESTATE Silver lining for residential property in 2015 PHILANTHROPY Battling children’s cancer
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      120 2 CONTENTSfebruary 2015 SPOTLIGHT 8 In for the long haul With a good dose of level-headedness and conservatism, Kishin R K, chief executive of property group RB Capital, is gunning for the big time TRUST MATTERS 1 2 Trust building In any asset structuring exercise, the key is to take a
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      29 3 Is your Private Banker on speaking terms with your Investment Banker? Discover how you can benefit from having Private Banking and Investment Banking integrated under one roof at credit-suisse.com/onebank
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      220 4 CONTENTSfebruary 2015 28 PHOTO: REUTERS ROUNDTABLE 18 Rising above volatility Investing in 2015 remains a challenging endeavour. Against this backdrop, our panellists give their take on profiting from the most promising themes for the year BOND MARKETS 22~To have and to hold Fixed income market is expected to continue to
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      191 5 Recognizing opportunities is my passion Responding to them well is the challenge With our financing expertise your wealth has a voice. Let it be heard. Discover more at asia-weaLthmanagement.bnpparibas.com BNP PARIBAS WEALTH MANAGEMENT The bank for a changing world This advertisement is for information purposes only. It is not an
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  • FEBRUARY 2015
    • Article, Illustration
      Lock icon Editor’s note
      736 6  -  By Genevieve Cua S UCCESSION planning among wealthy families can be a lengthy and difficult exercise. But for the father and son behind the real estate groups RB Capital and Royal Holdings, forward thinking is laying the groundwork for an expansion well beyond the groups’ combined asset base.
      Spotlight: Kishin R K; PHOTO: ISTOCK  -  736 words
    • SPOTLIGHT KISHINRK
      • Article, Illustration
        Lock icon In for the long haul
        1504 8  -  With a good dose of level-headedness and conservatism, Kishin RK, chief executive of property group RB Capital, is gunning for the big time By Genevieve Cua OUTH is typically associated with a high risk appetite, but Kishin R K, 31, runs property group RB Capital
        PHOTO: RB CAPITAL; PHOTO: ARTHUR LEE  -  1,504 words
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        Lock icon Young and driven
        737 10 S RB Capital chief Kishin RK sees it, the biggest challenge for Singapore’s young generation is that of maintaining “fire in the belly” and the hunger for success. As the son of billionaire Raj Kumar, he himself has that fire in spades, even though he says his
        PHOTO: ARTHUR LEE; PHOTOS: RB CAPITAL  -  737 words
    • TRUST MATTERS
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        Lock icon Trust building
        1431 12  -  In any asset structuring exercise, the key is to take a fully informed view of the system as it is set up and as it evolves Mark Haynes Daniell Founder and Chairman Raffles Fam i ly Wealth T rust Mark Haynes Daniell is the founder and chairman of
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    • PHILANTHROPY
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        Lock icon Creating a ripple effect
        1501 14 C ANCER is a dreadful disease particularly when it afflicts children. No one knows this better than lawyer and philanthropist Jennifer Yeo, whose youngest son was stricken with cancer when he was three. Thanks to a bone marrow transplant, painstaking round-the-clock care by St Jude Children’s
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        Lock icon Extending a helping hand
        639 15 FREDERICK Yeo, son of lawyer and philanthropist Jennifer Yeo, does not recall the pain he suffered when he had leukaemia as a child. Instead, he recalls the warmth of doctors and caregivers at St Jude Children’s Research Hospital in Memphis, US. He was diagnosed with cancer
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    • DEVELOPED MARKETS
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        Lock icon Taking centre stage
        1067 16  -  With developed economies expected to lead global growth in 2015, developed markets equities will be in the limelight By Fan Cheuk Wan Fan Cheuk Wan is Managing Director and Chief Investment Officer Asia Pacific, Credit Suisse Private Banking and Wealth Management OING into 2015, we expect a
        PHOTO: ISTOCK  -  1,067 words
    • ROUNDTABLE
      • Article, Illustration
        Lock icon Rising above volatility
        3285 18 Investing in 2015 remains a challenging endeavour. Against this backdrop, our panellists give their take on profiting from the most promising themes for the year Falling oil prices, muted economic growth, and a resurgent US… Investment is a challenging puzzle. But here we round up the investment
        PHOTO: ISTOCK  -  3,285 words
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        Lock icon THE BUSINESS TIMES’ WEALTH ROUNDTABLE
        258 19  -  poses questions to four wealth experts for their views on the outlook for 2015. Genevieve Cua BT Wealth Editor Lim Say Boon Is Chief Investment Officer at DBS Group Wealth Management Private Banking. He has held senior positions in banking and finance and the financial
        258 words
    • BOND MARKETS
      • Article, Illustration
        Lock icon To have and to hold
        1020 22  -  Fixed income market is expected to continue to provide exciting investment opportunities, but investors should be more selective By Peter Kok Peter Kok is Regional Head, Asean, Private Banking Clients, Standard Chartered Bank OND markets performed very well in 2014 and certainly better than what
        PHOTO: ISTOCK  -  1,020 words
    • EMERING MARKETS
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        Lock icon Picking the stars
        986 24  -  Among emerging markets in Asia, China and Indonesia are well poised for 2015 By MARK MATTHEVS Mark Matthews is Head Research Asia, Julius Baer O NE question that I am often asked is if emerging markets or the developed markets in Asia are good to invest in.
        PHOTO: AFP  -  986 words
    • CURRENCIES
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        Lock icon Ebb and flow
        1085 26  -  Key themes to watch out for in 2015 are policy divergence and disinflationary pressures By CHRIS WESTON Chris Weston is Chief Market Strategist, IG P OLICY divergence and disinflationary pressures will be among the key themes to watch out for in the year ahead for currency investors.
        PHOTO: ISTOCK  -  1,085 words
    • ASSET MANAGER
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        Lock icon Japan market scorecard
        1078 28 Amundi Japan’s Yas Iwanaga gives his take on Abenomics and investing in Japan equities HOPES ran high for the Japanese economy when “Abenomics” was first embarked upon. But after the euphoria in 2013, the Japanese economy slipped into a recession in the third quarter of 2014, due
        PHOTO: AFP  -  1,078 words
    • REAL ESTATE
      • Article, Illustration
        Lock icon Silver lining ahead
        1634 30  -  Singapore residential property market may see a recovery in the second half of 2015 Alice Tan Director and Head of Consultancy Research Knight Frank FTER a quiet year of low transactions and declining prices, the Singapore property market may see a recovery in H2 2015 The year
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    • LIFESTYLE
      • Article, Illustration
        Lock icon Taste of prosperity
        944 32  -  Those who want to hold Chinese New Year reunions at home in style are turning to high-end caterers By Rahita RAHITA ELIAS THE Horse is trotting back to its stable, and the Sheep is bleating eagerly for the run of the pastures. Yes, Chinese New Year (CNY)
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    • VIEWPOINT
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      31 7 Standard Chartered Private Bank You seek new horizons Across Asia, Africa and the Middle East, our deep market knowledge can connect you to business and wealth opportunities. sc.com/privatebank Here for good
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      117 11 In the future, succession planning will begin at birth As families continue to expand globally, the task of handing over to the next in line will become increasingly complex. This means succession planning will need to begin when the new generation take their first steps. Our network of specialists have
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      335 13 nikkoam Nikko Asset Management Japan Fund House of The Year, 2011 -2014 Asianlnvestor Investment Performance Awards Know your Japanese whisky? The art of Japanese whisky is not unlike investment. Only a connoisseur who recognises the subtleties in colour, taste and nose can possibly tell these four whiskies apart. Similarly, it
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      116 17 As the world’s No.1 CFD provider,* we also offer traders the security of 40 years’ experience, and a FTSE 250 listing. Losses can exceed your initial investment. Find out more today at IG.com.sg or call +65 6390 5118 Ensure you understand the risks and costs involved with CFD and FX
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      49 23 FIRST MOVERS WILL ALWAYS CHANGE THE WORLD. BUT WHICH ONE? >> Discover our approach at juliusbaer.com/visionary-thinking Julius Baer is the leading Swiss private banking group and present in some 50 locations worldwide. From Dubai, Frankfurt, Geneva, Guernsey, Hong Kong, London, Lugano, Monaco, Montevideo, Moscow, Nassau, Singapore to Zurich (head office).
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      125 27 Stability. Reputation. Relevance. Some things should never change. ASiAMONEY #1 Most Reputable and Financially Stable Private Bank in Asia 2014 ABN AMRO Private Banking is honoured to be voted by our clients as the #1 Most Reputable and Financially Stable Private Bank in Asia. –Asiamoney Polls 2014 At ABN AMRO
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      569 28 ORGANISATION CONTACT DETAILS Premier Financial Institutions Tel +65 6597 8866 www.abnamroprivatebanking.com DESCRIPTION Tel +65 6559 8000 www.bankofsingapore.com ABN AMRO Private Banking has a mature local presence in more than 10 countries worldwide. Within Asia and Middle East, ABN AMRO currently has three private banking centres in Singapore, Hong Kong and
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      118 36 BANKOFSINGAPORE Asia's global private bank Like you, we believe success doesn't arrive by taking a back seat. y ft' m'rrm f f v 1 t\dX ,u. ,7,e World a Bank of Singapore Private Banker Keeping abreast of market developments, 8:09am When it comes to your wealth, we manage it as
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