The Business Times, 5 February 2015

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Microfilm: NL33374
Total Pages: 24
1 24 The Business Times
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  • Title Section
    Lock icon Masthead
    24 1 THE BUSINESS TIMES S$1.00 Sp!l A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G C ©BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 Thursday, February 5,2015
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  • DAILY DIGEST
    • Article
      Lock icon The government will
      35 1 continue to maintain the importance of manufacturing in the Singapore economy, said Prime Minister Lee Hsien Loong at the end of his four-day official visit to Germany on Wednesday. TOP STORIES 4
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    • Article, Illustration
      Lock icon Australia’s dollar will fall
      40 1 7 per cent this year to 72 US cents as a faster-than-expected plunge in commodity prices leaves the nation A$500 billion (S$526 billion) poorer in the coming decade, Goldman Sachs Group Inc said. BANKING FINANCE /13
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    • Article
      Lock icon BP on Tuesday reported a net loss
      48 1 of US$4.4 billion for the fourth quarter of 2014, attributed mainly to write-offs of about US$5.5 billion on the value of assets in the North Sea and Angola because of lower estimates of reserves and falling oil prices. ENERGY COMMODITIES 14
      48 words
    • Article
      Lock icon Sony cut its full-year loss forecast
      40 1 on Wednesday by more than a quarter to US$1.4 billion, thanks to a weak yen and improving smartphone sales but it warned of further job cuts as part of its sweeping corporate overhaul. TECHNOLOGY/15
      40 words
    • Article
      Lock icon The United Nations aviation agency
      36 1 said at a major safety conference on Tuesday that it would press ahead with plans to establish a warning system for airlines on conflict zone risks despite reservations from RUSSia. TRANSPORT/17
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    • Article
      Lock icon Athens appealed
      38 1 to the European Central Bank on Wednesday to keep its banks afloat and vowed to respect European Union rules as it seeks a negotiated solution with eurozone partners to reduce its debt burden. GOVERNMENT ECONOMY 18
      38 words
    • Article
      Lock icon Populist and Nationalist party voters
      21 1 could well scuttle British political and economic stability in the coming general election. GOVERNMENT ECONOMY 19
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  • Article
    Lock icon Different minimum sums and flexible withdrawals up ahead
    1791 1  -  Key proposals include higher payouts for those who contribute more, option to take out up to 20% at retirement CPF REVAMP By Cai Haoxiang, Claire Huang haoxiang@sph.com.sg huangjy@sph.com.sg @HaoxiangCaiBT @ClaireHuangBT Singapore SIGNIFICANT changes are in store for Singapore’s Central Provident Fund (CPF)
    1,791 words
  • Article
    Lock icon Remisiers write to Tharman to resolve issues plaguing market
    733 1  -  Widespread unhappiness sees more than 1,000 stock traders, investors put pen to paper asking for separation of SGX roles, restoration of trust in market By R Sivanithy sivan@sph.com.sg @RSivanithyBT Singapore OVER 1,000 remisiers and investors have come together to appeal to
    733 words
  • Article
    Lock icon MARKETS
    26 1 Wednesday Change STI 3,417.57 (+9.55) KL COMP 1,803.02 (+21.76) NIKKEI 225 17,678.74 (+342.89) HANG SENG 24,679.76 (+124.98) SHENZHEN B 1,083.37 (+10.03) DOW(11am EST) 17,689.97 (+23.57)
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      74 1 *****4 MERGERS ACQUISITIONS Cash offer for LCD Global turns unconditional companies markets 5 BUDGET 2015 Enhancing the Budget to truly support SMEs opinion 20 TANJONG PAGAR CENTRE GuocoLand gears up for marketing REAL ESTATE 10 111 EMERALD HILL Bloc of 16 units sold for S$75-76m REAL ESTATE 11 MXi» Now
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    • Advertisement
      Lock icon Page 1 Advertisements Column 2
      36 1 MORE REPORTS Proposed changes strike a balance, say observers page 2 Infographic: What the CPF recommendations mean page 2 Higher CPF contribution rates for older workers mooted page 3 Commentary: Flexibility has its risks page 3
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  • TOP STORIES
    • Article
      Lock icon Proposed changes strike a balance, say observers
      539 2  -  Some doubt that letting people withdraw up to 20% of retirement account savings at age 65 was a good idea CPF REVAMP By Cai Haoxiang, Claire Huang haoxiang@sph.com.sg huangjy@sph.com.sg @HaoxiangCaiBT @ClaireHuangBT Singapore OBSERVERS have welcomed the proposals to offer higher payouts and flexible
      539 words
    • Article, Illustration
      Lock icon What the CPF recommendations mean
      261 2  -  The government has accepted the first part of recommendations from the CPF Advisory Panel, which it appointed to review the Central Provident Fund system. The panel’s first report covers two of its four terms of reference: to study how the Minimum Sum should be adjusted
      Sources: Central Provident Fund, CPF Advisory Panel, Ministry of Manpower BT Graphics: Teh Shi Ning & Gareth Chung  -  261 words
    • Article
      Lock icon Higher CPF contribution rates for older workers mooted
      817 3  -  Two points that CPF Advisory Panel make would inevitably raise business costs, amid rising wages and squeezed margins CPF REVAMP By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore EMPLOYERS should brace themselves for a further increase in business costs, going by two points that
      817 words
    • Article, Illustration
      Lock icon BOJ governor sticks to his guns on 2% inflation target
      701 3  -  By Anthony Rowley btworld@sph.com.sg Tokyo BANK of Japan (BOJ) governor Haruhiko Kuroda insisted on Wednesday that the central bank’s 2 per cent annual inflation target will be met some time around fiscal 2015 beginning April 1, amid signs that the
      701 words
    • Article, Illustration
      Lock icon Flexibility comes with risks
      882 3  -  COMMENTARY By Wong Wei Kong weikong@sph.com.sg @WongWeiKongBT THE first set of proposals by the CPF Advisory Panel to revamp Singapore’s retirement system, with its accent on flexibility and individual choice, has been generally welcome. But there are some questions to think about too. A key one
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    • Article, Illustration
      Lock icon S’pore to retain manufacturing as pillar of economy: PM Lee
      748 4  -  He expressed hope that German SMEs would expand in Singapore and use it as a gateway to Asia PM LEE IN GERMANY By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Berlin THE government will continue to maintain the importance of manufacturing in the
      PHOTO: DESMOND FOO/THE STRAITS TIMES  -  748 words
    • Article, Illustration
      Lock icon EDB appoints four economic envoys from Germany
      568 4  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Berlin THE Economic Development Board (EDB) has appointed four leading German executives to serve as Singapore’s new economic ambassadors over the next three years. They are all from renowned “Mittelstand” companies, the small and me-dium-sized enterprises (SMEs) that
      PHOTO: DESMOND FOO/THE STRAITS TIMES  -  568 words
    • Article
      Lock icon COE prices lower, except for motorbikes
      305 4  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore VEHICLE certificate of entitlement (COE) premiums mostly fell in the latest round of bidding on Wednesday, except for motorcycles (Category D). COE for Category A (cars up to 1,600cc and 130bhp) ended at S$62,002, down from S$65,001 in
      305 words
    • Article
      Lock icon S’pore can learn from Germany in skills training, says PM Lee
      567 4  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Berlin DESCRIBING Germany’s brand of vocational training as a “very unique” model in the world, Prime Minister Lee Hsien Loong said he believed Singapore could learn a thing or two from the Germans in
      567 words
    • Article
      Lock icon Oil slips after 4-day rally on demand concerns, stock levels
      390 4 Weak data from key consumer China muddies demand outlook REUTERS Singapore OIL Prices fell on Wednesday as renewed concerns over global demand and high stock levels halted a rally that pushed up prices by about 19 per cent over the
      REUTERS  -  390 words
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      65 3 r URBAN RESORT CONDOMINIUM ORCHARD YOU EXPECT ONLY THE BEST. YOUR ADDRESS SHOULD BE NO DIFFERENT. m f* J2. UNITS SOLD ON PREVIEW DAY Final 20 prime Freehold residences in the heart oF Orchard, along Cairnhill Road. LAST 8 UNITS! I 1,3 A Visit us now at 32 Cairnhill Road
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  • Page 4 Advertisements
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      Lock icon Page 4 Advertisements Column 1
      69 4 ONLINE SALE www.oaks.com.sg Wine, Whisky, Sake, Champagne, Life Style and Wine Accessories Over 500 products available. Australian Wine Offer! John’s Blend Cabernet Sauvignon 2009 Case of 6 Now: S$378.00 usual: sseao.oo John’s Blend Margarete’s Shiraz 2009 Case of 6 Now: S$378.00 usual: sseao.oo iff %'Discovery 1 James Halliday 94pts >
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  • COMPANIES & MARKETS
    • Article
      Lock icon Offer for LCD Global turns unconditional
      470 5  -  This follows the acceptance of the bid by the company’s largest shareholder JTrust Asia By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore A CASH offer from Aspial Corp and Fragrance Group for LCD Global Investments has turned unconditional, after LCD’s largest shareholder JTrust Asia agreed to
      470 words
    • Article, Illustration
      Lock icon SingPost’s investments in logistics and e-commerce bearing fruit
      711 5  -  By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore SINGAPORE Post’s aggressive push into the logistics and e-commerce space appears to be paying off as the group registered increased earnings despite weakening contributions from its traditional mailing business. In Q3 FY15, for the three
      711 words
    • Article, Illustration
      Lock icon Rigbuilders gain on crude rally
      543 6  -  Keppel, Sembmarine stocks up; analysts cautious about sustained oil price rebound HOT STOCKS By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore SINCE Monday, shares of Singapore’s leading rig-builders, Keppel Corporation (KepCorp) and Sembcorp Marine (Sembmarine), have gained off the recent rally in crude prices, but the
      Source: Bloomberg  -  543 words
    • Article
      Lock icon Lower costs help lift SATS Q3 profit by 25%
      426 6  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore GROUND-handler and food solutions firm SATS’ third quarter net profit jumped 25.2 per cent year on year to S$53.7 million, thanks to lower costs. Revenue dipped 3.2 per cent to S$450.7 million as higher revenue
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    • Article
      Lock icon PEC wins S$132m refinery deal in the Middle East
      255 6  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore MAINBOARD-listed PEC Ltd, a plant and terminal engineering specialist, on Wednesday announced a S$132 million contract award for a refinery project in the Middle East. The contract was awarded by a leading multinational corporation (MNC)
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    • Article
      Lock icon Fitch: First covered bonds could hit S’pore market by mid-year
      607 7  -  This follows further fine-tuning of the guidelines for issuance by the MAS By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore THE Monetary Authority of Singapore (MAS) has further fine-tuned the guidelines for issuance of covered bonds, and the first covered bonds
      607 words
    • Article
      Lock icon Call to restore market lunch break: MOM unable to help
      289 7  -  By R Sivanithy sivan@sph.com.sg @RSivanithyBT Singapore THE Singapore Society of Remisiers (SOR), which had appealed to the Ministry of Manpower (MOM) for help to reinstate the lunch break for the stock market, has been told that the ministry is unable
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    • Article, Illustration
      Lock icon The write way to welcome Chinese New Year
      88 7 OCBC Bank’s chairman Ooi Sang Kuang (right) and group CEO Samuel Tsien writing auspicious greetings in Chinese calligraphy on traditional paper fans. They were hosting clients at the OCBC Global Treasury’s Chinese New Year luncheon held at the Grand Hyatt Hotel in
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    • Article
      Lock icon AIA, Prudential among bidders for DBS’s US$1.5b insurance distribution deal
      201 7 REUTERS Hong Kong AIA Group Ltd, Prudential plc and Manulife Financial Corp are among firms shortlisted to become the insurance partner of Singapore’s DBS in a bank distribution deal worth around US$1.5 billion, people familiar with the matter said. DBS’s
      REUTERS  -  201 words
    • Article
      Lock icon Airfares may stay flat despite removal of fuel surcharges
      464 7  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore DESPITE fuel surcharges being lifted by airlines, airfares are likely to remain flat or decline just marginally as base fares are inflated to protect margins, a Maybank Kim Eng report said. With jet fuel hovering
      464 words
    • Article
      Lock icon Jasmine raises 36.7b baht through Internet fund IPO
      262 7 REUTERS Bangkok THAI telecommunications group Jasmine International PCL has raised 36.7 billion baht (S$1.52 billion) through the initial public offering (IPO) of its Internet fund, earmarked for the expansion of its high-speed broadband network. Jasmine, Thailand’s second-larg-est high-speed Internet provider, confirmed an
      REUTERS  -  262 words
    • Article, Illustration
      Lock icon STI / Catalist
      62 8 STI Catalist Straits Times Index Feb 4,2015 3,417.57 +9.55 (+0.28%) Current streak 1 day Day high 3,432.1 Day low 3,413.03 52-week high 3,423.35 (Feb 2, 2015) 52-week low 2,960.09 (Feb 5,2014) FTSE ST Catalist Index Feb 4,2015 738.15 -4.73 (-0.64%) Current streak 2 days Day high 748.58 Day low 736.11
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    • Article, Illustration
      Lock icon Banks, HK Land and Keppel lift STI
      692 8  -  Although index ends 9.55 points firmer at 3,417.57, it was off its intraday high and its gain was not reflected in the broad market TTSTOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT WALL Street’s Tuesday jump helped push up the major indices throughout the region
      Source: Bloomberg  -  692 words
    • Article
      Lock icon STI STOCKS
      305 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 251 -7 260/250 263 206 5.7 6346.2 CapitaLand 352 -2 357/352 364 268 17.6 2.3 ***** CapitaMall Trust 214 +2 215/211 226 180 5.1 7423.7 CityDev 1022 +6 1025/1017 1118 869 13.9
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    • Article
      Lock icon MOST ACTIVE
      36 8 VOLUME Advance SCT 120,800,000 IHC 47,597,500 Golden Agri-Res 42,619,100 SIIC Environment 34,469,300 Ezion 33,584,800 Market volume 1,405,877,000 VALUE Keppel Corp 116,678,989 DBS Grp 101,600,822 SingTel 89,274,070 OCBC Bank 56,733,550 Ezion 44,639,078 Market value 1,320,658,000
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    • Article
      Lock icon SGX ETFs
      111 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS India US$ US793 -2 511 810/793 1000/555 793/796 99.1 STI ETF 342 +1 214 343/342 349/299 341/342 UETF SSE50China 219 +3 61 221/218 238/140 218/220 68.4 Nikko AM STI ETF 348 +2 51 348/347
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Feb 4 VALUE CLOSE BT OB/OS 210.00 -47.00 BT CADI -*****.00 +5.00 BT 10-day MA -*****.00 +21.00 FTSE ST Mid Cap 785.53 +2.24 FTSE ST Small Cap 503.56 -0.92 FTSE ST All Share 822.38 +2.07 FTSE ST China Top 196.18 -0.50 FTSE ST China 237.03 +0.77 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      36 8 STI FTSE ST All-Share FTSE ST All-Share index Feb 4, 2015 822.38 +2.07 (+0.25%) Current streak 1 day Day high 825.46 Day low 821.87 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 Feb 3,2015 1,805.81 +14.7 (+0.82%) Current streak 2 days Day high 1,810.92 Day low 1,782.14 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 6 2 7 0 0 0 6 2 7 Manufacturing 42 42 38 6 7 10 48 49 48 Commerce 22 14 22 2 5 5 24 19 27 Tpt/Stor/Comms 12 18 10
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 30,377 30,377 162,838 162,838 Manufacturing 171,327 23,933 195,260 120,087 2,162 122,249 Commerce 76,032 41,987 118,019 91,676 2,002 93,678 Tpt/Stor/Comms 127,600 632 128,232 231,657 196 231,853 Finance 24,287 61 24,348 227,709 13 227,722 Construction 22,764 7,356
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    • Article
      Lock icon GAINERS
      77 8 BY CENTS CLOSE UP 52w high/low DBXT E50 US$ 4955 302.7 4.8 5630/4562 DBXT S&P500 US$ 3445 127.8 2.8 3490/2894 DBXT MSINDO us$ 1454 41.7 2.2 1600/1200 DBXT MSMSIA US$ 1359 40.4 2.3 1598/1310 Lyxor Mal US$ 940 40.4 3.3 1101/892 BY PERCENTAGE CLOSE UP 52w high/low ComfortDeMBeCW*****2 7.2
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    • Article
      Lock icon LOSERS
      76 8 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -219.3 -1.3 *****/***** DBXT Vietam US$ 2525 -67.3 -1.9 3100/2403 JMH USD 6373 -60.5 -0.7 6788/5199 DBXT S&P Short US$ 2243 -25.6 -0.8 2752/2197 Hyflux 6% CPS ***** -20.0 -0.2 *****/***** BY PERCENTAGE CLOSE DOWN 52w high/low Lereno Bio-Chem 0.2
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    • Article
      Lock icon UNUSUAL ACTIVITY
      83 8 VOL CLOSE($) CHANGE CPH 2,700.0 0.006 +0.001 +20.00 Shanghai Turbo 100.0 0.075 -0.010 -11.77 Transit Concrete 4.5 0.525 +0.100 +23.53 Old Chang Kee 236.9 0.805 -0.045 -5.29 M Development 1,500.0 0.006 -0.001 -14.29 BlueSkyPower 810.0 0.072 +0.018 +33.33 CEFC Intl 749.0 0.034 +0.002 +6.25 Seroja Inv 132.2 0.071
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    • BROKERS’ TAKE
      • Article
        Lock icon OSIM International
        188 8 Hold Feb 4 close: S$2.02 Target price: S$1.97 OCBC Investment Research, Feb 4 AFTER a widely disappointing quarter, there were no surprises for OSIM’s overall FY14 results. Q4 FY14 revenue and Profit after tax and minority interests were slightly lower by about one per cent year on year
        188 words
      • Article
        Lock icon SIA Engineering Company
        254 8  -  Compiled by Chan Yi Wen Sell Feb 4 close: S$4.17 Target price: S$3.62 Phillip Securities Research (Singapore), Feb 4 REVENUE dipped 6.5 per cent year on year to S$265.3 million, with associates and joint ventures (JVs) plunging 33.2 per cent year on year to S$25.3 million due
        254 words
    • Article
      Lock icon CALENDAR
      8 8 DATA I 9.30pm US initial jobless claims
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    • Article
      Lock icon Euro drops amid Greek debt renegotiations
      360 9 CURRENCIES BLOOMBERG London THE euro weakened for the first time in three days against the dollar as concern that Greece’s attempts to renegotiate its debt obligations may fracture the currency bloc outweighed improving economic data. The euro fell from an almost two-week high versus
      BLOOMBERG  -  360 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        470 9 Feb4 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.971 4.883 0.681 6.060 48.222 98.593 0.918 8.480 2.780 1.053 79.073 34.459 1.051 8.904 0.721 24.538 25.479 0.515 0.782 Canada 1.030 5.031 0.702
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      • Article, Illustration
        Lock icon HANG SENG
        2 9
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 9
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      • Article, Illustration
        Lock icon NIKKEI
        1 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 4 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0512 1.0515 0.7815 0.7816 Canadian dollar 1.0831 1.0834 0.8053 0.8052 Euro 1.5428 1.5433 1.1470 1.1472 NZ dollar 0.9979 0.9986 0.7419 0.7423 Sterling pound 2.0400 2.0408 1.5166 1.5170
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Feb 4 S$ Bid Offer 1-month 1.3456 1.3461 2-months 1.3461 1.3467 3-months 1.3466 1.3472 6-months 1.3477 1.3485 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        368 9 Feb 4 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.30 *****.11 *****.04 Mar15 *****.00 *****.00 *****.00 *****.00 *****0 *****6 Jun15 *****.00 *****.00 *****.00 *****.00 51 4184 MSCI TAIWAN INDEX FUTURES SPOT 351.68 353.36 351.68 Feb15 350.50 354.40 350.50 353.30 ***** *****7 Mar15 351.30
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        209 9 Feb 4 Most active Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****0 14.7 0.3 8091 0.2 1980 2 DBS MB ePW*****2 9.5 -0.2 6928 0.2 1910 2 OCBC Bk MB eCW*****3 7.1 0.6 3876 0.2 1060
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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 Feb 3 Index Change Change Change Change Change Change World Preliminary 1288.3 0.7 1.0 0.5 1.6 0.8 -0.1 EAFE Preliminary 1024.1 0.5 3.8 0.5 3.4 0.8 1.7 Europe Preliminary 1456.0 1.1 5.4
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 Feb 4 $S Offer Bid 0vernight 0.02 Par 1-month 0.625 0.50 2-months 0.625 0.50 3-months 0.6875 0.5625 Overnight mode: 0.10 US$ 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 SIBOR
        36 9 Feb 4 (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 GOVERNMENT SECURITIES
        71 9 Feb 4 Feb 4 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 103.34 103.38 103.32 5-Year N*****0H 1.625 01-Oct-19 100.99 101.00 101.00 10-Year NY*****H 3.000 01-Sep-24 109.04 109.10 108.55 15-Year NY*****E 2.875 01-Jul-29 106.67 106.50 105.80 20-Year NZ*****V 3.375
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        249 9 Feb-3 Price Net change change Last Trade Agricultural Feb-3 CBOT Soybeans (US cents/bu) 987.00 27.50 2.87% 13/03/2015 CBOT Soybean Oil (US cents/lb) 30.80 0.39 1.28% 13/03/2015 CBOT Wheat (US cents/bu) 513.75 21.00 4.26% 13/03/2014 Feb-3 LIFFE Cocoa (£/tonne) 1912.00 19.00 1.00% 16/03/2015 LIFFE Coffee (US$/tonne) 1907.00 -10.00 -0.52%
        249 words
  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      100 5 tx SMU SINGAPORE MANAGEMENT UNIVERSITY JONES DAY Professorship of Commercial law Lecture Confidentiality in International Arbitration: Virtue or Vice? Speaker Professor Sir Bernard Rix Jones Day Professor of Commercial Law Commentary Matthew Skinner Partner, Jones Day Singapore Thursday, 12 March 2015 5.30 pm to 7.00 pm (Registration starts at 5.00
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      Lock icon Page 5 Advertisements Column 2
      258 5 FUTURE 1 I t I i I I I I I S CHINA ADVANCED LEADERS PROGRAMME ('/rooming future leaders to be “China-ready” “China-savvy” and “Connected” U The Future China Advanced Leaders Programme organised by Business China has strengthened my confidence in leading the team to build and expand our networks
      258 words
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      166 6 rap NANYANG TECHNOLOGICAL 'y..} UNIVERSITY Wee Kim Wee School of Communication and Information SOAR WITH A GLOBAL UNIVERSITY ON A RAPID RISE. NTU. t K -T ysagg v Wee Kim Wee School of Communication and Information Graduate Programmes, August 2015 Intake Young and research-intensive, Nanyang Technological University (NTU Singapore) is
      166 words
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      Lock icon Page 6 Advertisements Column 2
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      Lock icon Page 7 Advertisements Column 2
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  • REAL ESTATE
    • Article, Illustration
      Lock icon GuocoLand gears up for Tanjong Pagar marketing
      828 10  -  It plans to ‘go heavy’ on F&B for retail portion, targets diverse office tenants By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore WITH the Tanjong Pagar Centre scheduled to complete by mid-2016, GuocoLand is ramping up its marketing efforts for the office and retail components
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    • Article
      Lock icon Malaysia residential property demand to fall further: report
      194 10 STRAITS TIMES ONLINE Singapore DEMAND for residential properties in Malaysia is set to drop further this year due to cooling measures and weaker buyer sentiment, Moody’s Investors Service said in its latest quarterly report on South-east Asia economies. “We expect the anticipation
      STRAITS TIMES ONLINE  -  194 words
    • Article, Illustration
      Lock icon Bloc of 16 units at 111 Emerald Hill sold for about S$75m via sale of shares
      762 11  -  Sale of stake in condo developer values the prime freehold apartments in the low-S$1,700 psf range By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore THE remaining 16 unsold units in 111 Emerald Hill, a 40-unit completed
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    • Article
      Lock icon Europe’s commercial property market hottest since 2007
      467 11 REUTERS London EUROPE’S commercial property market sizzled last year, as demand for property in Paris, buoyant sec-ond-tier British and German markets and strong private equity interest in Ireland and Spain sent deals to their highest level since the financial crisis. Europe saw 213.1
      REUTERS  -  467 words
    • Article
      Lock icon The return of the speculative office development
      1311 12 US developers are completing projects in smaller markets without tenant commitments, as demand for lower-cost office space picks up BLOOMBERG Los Angeles PORTMAN Holdings LLC, which has built high-profile properties such as San Francisco’s One Embarcadero Centre, plans to break ground in June
      BLOOMBERG  -  1,311 words
    • Article
      Lock icon Househunt
      899 12 Property transactions for districts 1 to 28 with contract dates between Dec 24 and Dec 30,2014 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED Marina One Residences Apt 30/12/2014 99 1528 3856 2523 Marina One Residences Apt
      899 words
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      478 10 TOKYO FREEHOLD RESIDENTIAL BUILDINGS FOR SALE Prominent business and commercial center Prestigious central location a ASKING PRICE JPY 2,000,000,000 Shibuya Sakuragaoka Completed in 2006 5-min walk to Shibuya station Site area 276.48 sq m Exclusive area 1,372.16 sq m 43 units I mu vm ASKING PRICE JPY 1,600,000,000 Toranomon New
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      179 10 Beef Up Your Finances Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your IPOs other offerings KnightFrank.com. sg Alpine ctr Eunos Technolink Regent Ctr Ubi Ave 3 Eunos Lk Kaki Bt Rd 1 Ubi Rd 4 Kah Motors CAR SHOWROOM FOR SALE/LEASE Strategically located in the motor vehicle district
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      260 10 EXCLUSIVE SHOPHOUSE ALONG SULTAN GATE A RARE STANDALONE SHOPHOUSE WITHIN KAMPONG GLAM Full Commercial Zoning; No ABSD; Foreigners eligible to buy Located along Sultan Gate, off Beach Road Enjoys dual frontage from Sultan Gate and Pahang Street Land Area: Approx. 7,401 sf Total Floor Area: Approx. 7,944 sf Freehold Availability
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      396 11 CUSTOM REACH EUSTON, LONDON, NW1 Luxury central London apartments within 3 minutes' walk to the closest Underground Station** MORNINGTON CRESCENT -a EUSTON REACH PRICES FROM £470,000 I 2 •D m Ka .P u f 1 Jl a Iim -■-A y* 7 h r generated image British University University London Museum
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon Goldman cuts Aussie dollar forecast to 72 US cents
      599 13 It expects Reserve Bank of Australia to lower interest rates again in May BLOOMBERG Sydney AUSTRALIA’S dollar will fall 7 per cent this year to 72 US cents as a fast-er-than-anticipated plunge in commodity prices leaves the nation A$500 billion (S$526
      BLOOMBERG; PHOTO: BLOOMBERG  -  599 words
    • Article
      Lock icon Bahrain looks for regional edge with central Syariah board
      436 13 REUTERS London BAHRAIN’S central bank is drafting legal documentation to set up a Syariah board of scholars that would oversee the kingdom’s Islamic finance sector, in a step that could help the market compete with regional rivals. The central bank already
      REUTERS  -  436 words
    • Article
      Lock icon Fidelity fund aims to invest only in assets that are collateralised
      240 13 BLOOMBERG Boston FIDELITY Investments plans to convert its largest money fund into one that almost only buys securities issued or backed by the US government after regulators imposed restrictions last year. It wants the US$111.5 billion Fidelity Cash Reserves
      BLOOMBERG  -  240 words
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      Lock icon Post-Gross, investors continue to pull out of Pimco
      554 13 REUTERS New York THE abrupt departure of Bill Gross continues to haunt Pimco as the giant bond management firm on Tuesday disclosed that investors in January yanked US$ 11.6 billion from the flagship fund that Mr Gross previously oversaw. While the cash
      REUTERS; PHOTO: BLOOMBERG  -  554 words
    • Article
      Lock icon Departures of bankers in Tokyo flag retreat of foreign lenders
      598 13 BLOOMBERG Tokyo DEPARTURES of Tokyo-based loan executives from Citigroup Inc and General Electric Capital Corp highlight the retreat of foreign banks from Japan’s lending market. Nobuhiko Ito, head of acquisition finance and syndicated lending at Citigroup in the capital, and
      BLOOMBERG  -  598 words
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      600 13 The Business Times NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 (S 296(1)) AND IN THE MATTER OF NELSON-MILLER (SINGAPORE) PTE LTD (IN PROVISIONAL LIQUIDATION) UEN *****3857Z (THE "COMPANY”) NOTICE OF CREDITORS’ MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 296 of the Companies Act (Cap. 50)
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  • ENERGY & COMMODITIES
    • Article
      Lock icon Shell, union still deadlocked over US refinery pay issue
      423 14 REUTERS Houston NEGOTIATIONS made no progress on Tuesday as Royal Dutch Shell Plc and union leaders haggled over a new wage contract for US refinery workers who have been on strike for three days, the union said. The two camps have
      REUTERS  -  423 words
    • Article, Illustration
      Lock icon BP posts net loss of US$4.4b in Q4 2014
      954 14 Loss is attributed mainly to US$5.5b in write-offs on the value North Sea and Angola assets due to lower estimates of reserves and falling oil prices NYT London BP on Tuesday reported a net loss of US$4.4 billion in the fourth
      NYT; PHOTO: REUTERS  -  954 words
    • Article
      Lock icon BP hunkers down for prolonged oil slump
      377 14  -  REUTERS BREAKINGVIEWS By Fiona Maharg-Bravo Madrid BP is hunkering down for a prolonged oil slump. The UK oil and gas major is being more aggressive than many peers, but it also faces more problems than most. While Shell warned of “overreacting” to the
      377 words
    • Article
      Lock icon CNOOC to make deep cuts in capex, targets 15% production growth
      448 14 REUTERS Hong Kong TOP Chinese offshore energy producer CNOOC Ltd announced a sharper than expected cut in capital spending for this year, in the first public response by a major Chinese oil company to the turmoil in the oil
      REUTERS  -  448 words
    • Article
      Lock icon Indonesia palm oil firms seen as takeover targets
      293 14 REUTERS Jakarta SOME South-east Asian agri-compa-nies are exploiting a regulatory loophole and turning to takeovers to expand their oil palm acreage in top exporter Indonesia just as weak demand for the edible oil makes smaller producers more open to deals. Under a
      REUTERS  -  293 words
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      63 14 The Premier Platform for Gifts Sourcing VVSGPFair Singapore Gifts Premiums Fair 2015 29-31 JULY 2015 Marina Bay Sands Expo Convention Centre, Singapore www.SGPFair.com m <*>\r EXHIBIT PROFILE Lifestyle Retail Gifts Florists Hampers Rewards Incentives Etc. 11 mA- 9 Interested to exhibit? Tel: (65) 6848 5938 Email; SGPFair@bizlink.com.sg Organised By: BIZLINK
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      85 14 Myanmar: Myanmar Civil Aviation Development Conference 2015 23 26 March 2015 Sedona Hotel Yangon www.mcadc.sphereconferences.com Greater Heights The only strategic conference where airports, airlines and stakeholders convene to define the future of Myanmar’s aviation sector. Organiser: Patron: Official host: sphere SINGAPORE PRESS HOLDINGS Department of Civil Aviation. Myanmar Group booking
      85 words
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  • TECHNOLOGY
    • Article
      Lock icon Online revolution killing retailers in China
      786 15 But it promises to boost productivity and could create 46 million new jobs in China by 2025, according to McKinsey BLOOMBERG Beijing HUNCHED over the counter of his tiny, gadget-filled stall in Beijing’s vast Hailong Electronics City, Wang Ning bemoans a week without a
      BLOOMBERG  -  786 words
    • Article, Illustration
      Lock icon Sony cuts full-year loss forecast to US$1.4b
      599 15 It would shed another 1,100 jobs in its mobile phone business; Q3 profit estimate more than triple AFP Tokyo SONY on Wednesday cut its full-year loss forecast by more than a quarter to US$1.4 billion, thanks to a weak yen and improving smartphone
      AFP; PHOTO: REUTERS  -  599 words
    • Article
      Lock icon Israeli biotech firm surges on mystery firm’s nameless analyst note
      746 15 BLOOMBERG Tel Aviv WHEN Pluristem Therapeutics Inc, an Israeli developer of experimental stem-cell treatments, rose 39 per cent in Nasdaq trading last week, traders attributed it to a bullish report on a website linked to a California biotech pundit. The
      BLOOMBERG  -  746 words
    • Article
      Lock icon Samsung to expand range of smart appliances
      233 15 AFP Seoul SAMSUNG is to launch a range of smart refrigerators, air conditioners and washing machines as its seeks to expand its business in Internet-con-nected homes, a top executive said on Tuesday. The South Korean tech giant is seeking to plough more resources
      AFP  -  233 words
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      28 15 CAN INDIA RETAIN THE WORLD CUP? tabla!speakstoS’porefansahead ofthecricketextravaganza thatstartsnextweek ROTIMATIC’S ANGEL INVESTOR GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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      56 15 fb.com/ComexITShow www.itshow.com.sg 19-22 MAR 2015 SUNTEC Singapore, Levels 3,4 6 12pm 9pm FREE ADMISSION Sell your tech Sellyourtechproducts &servicesatSingapore’s LARGESTI.T,digital, mobile&consumer electronicsexhibition! Book Your Space NOW! *Limited Booths Available For more information, call *****620 or email to sales@exhibitsinc.com.sg ORGANISED BY Organiser of IT SHOW, Food and Beverage Fair, COMEX, World
      56 words
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  • CONSUMER
    • Article, Illustration
      Lock icon ‘Sharing economy’ reshaping markets
      794 16 Uber is the best known platform in this phenomenon, having reached a valuation of US$40 billion AFP Washington WANT to make a bit of extra cash driving strangers around in your car, taking care of someone’s dog, renting your apartment or cooking a meal? Welcome to
      AFP; PHOTO: AFP  -  794 words
    • Article
      Lock icon US drugmakers’ reports on side effects often incomplete: study
      626 16 NYT New York THE main system for keeping track of the dangerous side effects of prescription drugs is deeply flawed, primarily because drugmakers are submitting incomplete information about the problems to the Food and Drug Administration (FDA), according to a new
      NYT  -  626 words
    • Article
      Lock icon Novartis Japan faces penalty over drug side effects
      233 16 AFP Tokyo JAPANESE health authorities said on Wednesday that they will soon make a decision on a possible penalty against the local unit of Swiss pharmaceutical giant Novartis for failing to report drug side effects. That followed media reports which said regulators
      AFP  -  233 words
    • Article
      Lock icon New York Times’ profit falls as it makes strides in digital ads
      474 16 NYT New York THE New York Times Co said its annual operating profit declined in 2014 because of investments in digital journalism and severance costs from a round of job reductions. Revenue was flat as growth in digital
      NYT  -  474 words
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      20 16 www.omy.sg fcQ HBI KMmM?! fy'-'™ tJ m Scan Win lifestyle.omy.sg 05*0 0 Download omy Apps omy News iOSAppStore Google Play
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      59 16 HOT PROPERTY HILLTOP GROVE 1012 sf. 2+Study. P/furn. Quiet. Vacant. Move-in. MRT. $2.6K neg. JUST TOP. TENNERY 1 bdrm (3 units). High flr. P/furn. LRT/ Cold Storage. $2.xK. Immed. THE PETALS 3+1 High flr F/ poolview/waterfall, Master bdrm+bath face greenery. F/furn. LOOKING FOR A PLACE TO RENT? Check this and
      59 words
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Greece seeks support from ECB, vows to respect EU rules
      719 18 New leftist government negotiating with eurozone partners to reduce its debt burden REUTERS BLOOMBERG Frankfurt GREECE’S new leftist government appealed to the European Central Bank (ECB) on Wednesday to keep its banks afloat and vowed to respect European Union rules
      REUTERS; BLOOMBERG; PHOTO: REUTERS  -  719 words
    • Article
      Lock icon India urges Fed to accept a stronger greenback
      755 18 BLOOMBERG Mumbai INDIA’S central bank chief said the US will have to accept a stronger exchange rate as the Federal Reserve turns towards raising interest rates for the first time since 2006. “The Fed will have to start at some point normalising
      BLOOMBERG  -  755 words
    • Article
      Lock icon Fed may not raise rates at all this year, says Lombard Odier official
      515 18  -  Rapid appreciation of the US dollar already has a tightening effect, he says By Fiona Lam fionalam@sph.com.sg Singapore THERE is a growing and large probability for the US Federal Reserve not to raise interest rates at all
      515 words
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      Lock icon Singapore and China exploring 3rd govt-to-govt project in western China
      399 18  -  By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore MINISTER for Social and Family Development Chan Chun Sing, freshly returned from a visit to western China to assess the feasibility of a govern-ment-to-government (G-to-G) project, has said that the next step is
      399 words
    • Article
      Lock icon Jordan hangs 2 Iraqi terrorists for the killing of pilot
      245 18 REUTERS Amman JORDAN hanged two Iraqi terrorists on Wednesday including a female militant in response to an Islamic State of Iraq and Syria (ISIS) video showing a captured Jordanian pilot being burnt alive by the hardline group. The ISIS had
      REUTERS  -  245 words
    • Article
      Lock icon China cuts bank reserve requirement to shore up growth
      475 18 REUTERS Beijing CHINA’S central bank cut the amount of cash that banks must hold as reserves on Wednesday, the first indus-try-wide cut in more than 21/2years, as it increased efforts to shore up flagging growth in the world’s sec-ond-largest economy. The
      REUTERS  -  475 words
    • Article, Illustration
      Lock icon UK polls put political, economic stability on the line
      1070 19  -  Polls say Tories and Labour are neck and neck. In victory, each must go into a coalition with anti-business parties By Neil Behrmann btworld@sph.com.sg London POPULIST and Nationalist party voters could well scuttle British political and economic stability in the coming
      PHOTO: REUTERS  -  1,070 words
    • Article, Illustration
      Lock icon Tony Abbott defiant as members of parliament call for his sacking
      836 19 Backbenchers publicly called for a Liberal Party vote on his leadership AFP Sydney AUSTRALIAN Prime Minister Tony Abbott was fighting for his job on Wednesday after backbenchers publicly called for a Liberal Party vote on his leadership following months
      AFP  -  836 words
    • Article
      Lock icon Modi faces possible state poll defeat
      381 19 REUTERS New Delhi INDIAN Prime Minister Narendra Modi is facing his first state election defeat since taking charge last year, opinion polls show, a result that would dent his chances of consolidating power needed to speed up an economic recovery. The ruling Bharatiya Janata
      REUTERS  -  381 words
    • Article
      Lock icon Lankan president pledges national reconciliation
      527 19 AFP Colombo NEW President Maithripala Sirisena vowed on Wednesday to end Sri Lanka’s pariah status by working with the UN and promised national reconciliation, six years after the island’s ethnic war ended. In an address to the nation to mark Sri Lanka’s 67th anniversary of
      AFP  -  527 words
    • Article
      Lock icon China January services sector growth slowest in 6 months
      374 19 REUTERS Beijing CHINA’S services sector grew at the slowest pace in six months in January as growth in new business weakened, a private survey showed, raising expectations that policymakers may unveil more stimulus steps to avert a sharper slowdown in the
      REUTERS  -  374 words
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  • OPINION
    • Article
      Lock icon With CSA, cyber security gets the attention it deserves
      558 20 IN his recent State of the Union address, US President Barack Obama mentioned cyber threats in the same sentence with terrorism. He said: “We are making sure our government integrates intelligence to combat cyber threats, just as we have done to
      558 words
    • Article
      Lock icon What failed in 2008?
      825 20  -  Indeed, the only true lesson of the crisis so far seems to be that its lessons will never truly be learned. THE BOTTOM LINE By J Bradford DeLong T The writer is professor of economics at the University of California at Berkeley and a research associate
      PROJECT SYNDICATE  -  825 words
    • Article, Illustration
      Lock icon Enhancing the Budget to truly support SMEs
      1245 20  -  Across the board measures leave an inequitable playing field for small businesses, who would benefit greatly from small cost advantages and tax breaks. BY EUGENE KB TAN and GOH BUN HIONG BY EUGENE KB TAN, GOH BUN HIONG T The writers are, respectively,
      PHOTO: BLOOMBERG  -  1,245 words
    • Article
      Lock icon Economists now fill the role of oracles and shamans
      924 21  -  COMMENTARY By Noah Smith BLOOMBERG VIEW AWHILE back, I suggested that one reason economists get more respect than sociologists is that they have a better command of statistics and other technical skills. But I think there’s also another reason the public
      BLOOMBERG VIEW  -  924 words
    • Article
      Lock icon Sometimes, firms need to break up too
      815 21  -  By Andy Pasternak, Jim wininger, Satish Shankar T The writers are, respectively, a partner with Bain Company’s Chicago office, a partner with its Atlanta office, and a partner with its Singapore office IS it time to split up? Each week brings with it
      815 words
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      Lock icon Gridlock Light expected in Washington?
      1228 21  -  The gap between the Democrats and the GOP has yawned in recent years, but a Budget deal is expected soon one that will let both sides say they acted in their constituents’ interests By Leon Hadar Washington SO LET us start by highlighting the obvious:
      PHOTO: BLOOMBERG  -  1,228 words
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    971 22 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville Hyundai Vladivostok 595E 11 Feb 28 Feb 16 Mar 19 Mar 23 Mar 25 Mar 27 Mar 30 Mar 06 Apr 08 Apr 08
    971 words
  • Page 22 Advertisements
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      176 22 USE THIS SPACE TO SELL CALL JOE WONG AT *****327 TO ADVERTISE THE BUSINESS TIMES Shipping ties Experienced ship maintenance services wanted. Can they find your services here in the Shipping Times? The bhsim-ss Times TO ADVERTISE, CALL JOE WONG AT 9620 1327 Spotlight Award Wins Recognition Come publicise your
      176 words
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  • LIFE & CULTURE
    • Article
      Lock icon The power and risks of high-tech fashion
      794 23 From the Navigate Jacket to the Mood Sweater, the introduction of technology into garments has many privacy implications NYT New York NEW to the city last year, Billie Whitehouse was struck by the inevitability of small-scale disaster on the streets of New York.
      NYT  -  794 words
    • Article, Illustration
      Lock icon Mockingbird author Harper Lee to publish second novel
      663 23 AFP New York AMERICAN author Harper Lee is to publish a second novel, more than half a century after the release of her much-loved classic To Kill a Mockingbird, HarperCollins has announced. Go Set a Watchman was written in the 1950s and
      AFP; PHOTO: AFP  -  663 words
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      Lock icon Chinese TV reboots Korean reality shows for celebrity thrills
      464 23 REUTERS Seoul CHINESE producers are getting round curbs on foreign television content with homegrown versions of South Korean variety shows, cashing in on the popularity of “Korean Wave” cinema and celebrities captured in unscripted moments. As they target China’s US$19-bil-lion TV
      REUTERS  -  464 words
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  • Page 23 Miscellaneous
    • Miscellaneous
      Lock icon Page 23 Miscellaneous Column 1
      327 23 CRYPTIC CROSSWORD Across 1 Paint or paper I ordered is not suitable (13) 10 Returning antelope occupied by kill gets coup de grace (7) 11 It’s to do with examination in theory (2,5) 12 It detects by smell and is aware by sound (4) 13 Cried out for a drink
      327 words
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      107 24 fL W MITSUBISHI ELECTRIC Changes for the Better Air-Conditioner A MITSUBISHI ELECTRIC INVERTER I xut'i dbr energy Savings i EASIEST To Clean! i’ teachable Inner Vent for Easy C/ean UIETES f IK I Mmmwm sl V. SM 'V, v VT ii*i i Mi V «iss fitsubishi Electric uality for a
      107 words