The Business Times, 14 February 2015

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Microfilm: NL33374
Total Pages: 41
1 32 The Business Times
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      80 1 LivingBTTHE BUSINESS TIMES WEEKEND FEBRUARY 14-15, 2015 SWEET SUCCESS A new wave of talented young Singaporean pastry chefs are making their mark with refined, sophisticated treats L2-5 TRAVEL Point of view at Yamu L11 DINING Talking to Daniel Boulud L6 DESIGN Ron Gilad: melding art and design L7 PHOTO: CHERISH
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  • Page 2 / 3 Miscellaneous
    • Miscellaneous
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      39 2 / 3 KRALL ENTERTAINMENT PRESENTS DUE TO POPULAR DEMAND, WE’VE ADDED MORE SHOWS FROM MARCH 26 MAY 3! BOOK NOW. JUBILEE HALL 2015 Book now at www.sistic.com.sg Tickets also available through 6348 5555 More information: www.labero.com.sg Are you ready to believe?
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  • BT Living
    • DINING
      • Article, Illustration
        Lock icon SWEET SUCCESS
        791 2 / 3  -  A new wave of passionate and talented young Singaporean pastry chefs are making their mark with their refined, sophisticated treats. BT Weekend tracks them down By Tiong Li Cheng THINK afternoon tea and the dazzling Palm Court at The Langham, London pops to mind. But here’s a little
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      • Article, Illustration
        Lock icon Stairway to dessert heaven
        831 2 / 3  -  Opening in April By Avanti Nim avantin@sph.com.sg WHEN she was pursuing Geography and European Studies at a local university, little did Cheryl Koh know these subjects would come in handy for a successful career as a pastry chef. But exposure to world maps, tectonic plates and
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      • Article, Illustration
        Lock icon Cake couture
        843 4 / 5  -  By Tay Suan Chiang taysc@sph.com.sg @TaySuanChiangBT STEP into cake shop Mad About Sucre on Teo Hong Road, and you’ll see a petite woman, her face full of concentration, kneading dough or laying slices of sponge cake on top of blocks of cheese mousse. That woman is Lena Chan,
        PHOTOS: YEN MENG JIIN  -  843 words
      • Article, Illustration
        Lock icon French flair
        740 4 / 5  -  By Tay Suan Chiang MOST first time entrepreneurs would take the safe route: spend some time working in say, a bakery, before starting their own business. Georgina Sim is one confident woman. Together with her sister Glenda, she recently opened Euopean-styled patisserie, Les Delices, in Kreta Ayer. Georgina,
        PHOTOS: YEN MENG JIIN  -  740 words
      • Article, Illustration
        Lock icon A refined plate
        680 4 / 5  -  By Rachel Loi rachloi@sph.com.sg @RachelLoiBT IT’S been six years since Gene Mok began his career in the F&B industry, and things have come full circle as he returns to his first love sweets and pastry. “My initial goal for learning how to cook was to become a
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      • Article, Illustration
        Lock icon The quintessential French chef
        1076 6  -  Daniel Boulud may have left France 40 years ago and never went back but French food remains in his heart and soul. By Jaime Ee By Jaime Ee jaime@sph.com.sg @JaimeEeBT WHOEVER said French cuisine is out of fashion probably never spoke to a French chef. Namely,
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    • HOME & GARDEN
      • Article, Illustration
        Lock icon MELDING ART AND DESIGN
        895 7  -  Artist Ron Gilad turns his hand to designing furniture in a process that deconstructs traditional furniture construction. By Arthur Sim LIKE many good artists, Ron Gilad, 42, does not really care what the viewer thinks. “I am very, very selfish. I am not trying to satisfy
        PHOTO OF TAVOLINO COFFEE TABLE: YEN MENG JIIN  -  895 words
    • STYLE
      • Article, Illustration
        Lock icon Fashion Week goes mainstream
        981 8 / 9 The likes of Banana Republic and J Crew go from button-down to bourgeoise, putting up presentations at New York Fashion Week in an effort to stay competitive Bloomberg NEW York Fashion Week, known for avant-guard styles such as feathered crop tops and safari-in-spired evening gowns, is
        Bloomberg; LOOKBOOK PHOTOS: INTERNET PHOTO OF MARISSA WEBB: AFP  -  981 words
      • Article, Illustration
        Lock icon Kanye takes it Yeezy
        497 8 / 9 Kanye West grabs attention at a star-studded launch of his collaboration with Adidas at New York Fashion Week AFP New York FRESH from hogging headlines at the Grammys, rap star Kanye West grabbed all the attention at New York Fashion Week on Thursday, presiding over a
        AFP; PHOTOS: REUTERS  -  497 words
    • HEALTH
      • Article, Illustration
        Lock icon Does an anti-ageing pill already exist?
        1697 10  -  Rapamycin has shown promise as a drug that not only can extend life by delaying the onset of ageing-related diseases, but also postpone the effects of normal ageing. By Bill Gifford Bloomberg New York ONE afternoon in the early 1980s, Suren Sehgal brought a
        Bloomberg; PHOTO: BLOOMBERG  -  1,697 words
    • TRAVEL
      • Article, Illustration
        Lock icon POINT OF VIEW
        1014 11  -  Treading the line between style and laidback comfort, Point Yamu in Phuket has found its own unpretentious, relaxed niche among other exclusive beach spots. By May Yip THESE days, it seems like luxury resorts are split into two categories: the uber-hip designer stay complete with a signature
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    • BEAUTY
      • Article, Illustration
        Lock icon The personal touch
        1032 12 / 13  -  Sci-fi-esque machines promising to zap away flaws may be generating the most buzz, but don’t dismiss the power of old-fashioned touch for a pampering beauty fix. By May Yip FROM procedures to freeze away fats to light-emitting contraptions to lift, lighten and regenerate skin, it seems like
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      • Article
        Lock icon wine&dine
        906 12 / 13 with BTWeekend Peach Blossoms Marina Mandarin Singapore 6 Raffles Boulevard, Level 5 Z6845-1118 Chinese New Year Goodies Chinese New Year Goodies are now available for takeaway at Peach Blossoms. Enjoy Marina Mandarin Yu Sheng, Pumpkin Cake with Shredded Yam, Supreme Braised Buddha Jumps Over the Wall and many more
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    • MOTORING
      • Article, Illustration
        Lock icon More fun in a smaller package
        678 14  -  The new Mazda MX-5 is the shortest ever, with improved driving dynamics. By Samuel Ee samuelee@sph.com.sg IT may be small but it is the flagship Mazda, the model that best personifies this sporty Japanese brand. The Mazda MX-5 is a compact open-top two-seater whose
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        Lock icon OFF 2 A NEW START
        606 15  -  STARTBMW’s sub-compact convertible gets a new number and new proportions. STARTBMW’s By Samuel Ee samuelee@sph.com.sg NOW that it is bigger and flatter than its chunkier predecessor, BMW’s smallest convertible model appears more grown up although it remains relatively compact. The new 2 Series Convertible replaces
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    • SPORTS
      • Article, Illustration
        Lock icon Romance of the FA Cup alive and well
        875 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Correspondent CHELSEA and Manchester City, the top two teams in the English Premier League (EPL), won’t be in action this weekend. Neither are Tottenham Hotspur, Southampton and six other top flight clubs. The FA Cup
        PHOTOS: REUTERS  -  875 words
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  • TOP STORIES
    • Article
      Lock icon Ministers urge WP to run forensic audit of managing agent
      708 2  -  Low repeats point that contractors don’t want to take on jobs in opposition wards By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE Workers’ Party (WP) must conduct a forensic audit on its town council’s managing agent and take legal action if
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    • MARKETS
      • Article
        Lock icon STOCKS
        59 2 GSTI 3,426.22 (+7.05) GSTI FUTURES 3,427.00 (+7.00) GSIMSCI 383.08 (+1.58) GSIMSCI FUTURES 383.30 (+0.50) STOCKS Friday Change KL COMP 1,800.95 +11.88 NIKKEI 225 17,913.36 -66.36 HANG SENG 24,682.54 +260.39 SET 1,615.89 +2.49 JAKARTA 5,374.17 +30.75 MANILA 7,773.45 +58.86 KOSPI 1,957.50 +15.87 SHENZHEN B 1,099.92 +9.35 MUMBAI IND 29,094.93 +289.83
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        Lock icon PRIME RATES
        29 2 SINGAPORE 5.35 MALAYSIA 6.85 HONG KONG 5.00 INDONESIA 14.657 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.85 SWITZERLAND 0.50 INDIA 14.75 Source: Bloomberg
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        Lock icon FOREX
        49 2 US$ S$ US$ (S$ per US$) 1.356 (US$/S$ per 1.539 2.088 EURO (US$/S$/€ 1.143 1.550 Foreign currency per US$ S$ YEN 118.90 87.70 RM 3.582 2.641 HK$ 7.755 5.718 BAHT 32.62 24.05 RUPIAH 12,778 9,421 RENMINBI 6.241 4.601 INDIAN RUPEE 62.16 45.83 A$ 1.288 0.950 NZ$ 1.344 0.991
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    • Article, Illustration
      Lock icon Lui defends increase in public transport fares
      691 3  -  Operators have to make profits to pay for future capital expenditure, he says By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE issue of whether Singapore’s two public transport operators should be allowed to raise fares at a time when they are making healthy profits
      FILE PHOTO  -  691 words
    • Article, Illustration
      Lock icon Marginal increase in 2015 prices
      142 4 Prices of Chinese New Year goods rose more slowly compared to last year BT Graphics: Ludwig Ilio, Fiona Lam and Prisca Ang official forecast range Methodology I The basket consists of: 24 cans of Tiger beer Average price of New Moon 425gcans of Australia and
      BT Graphics: Ludwig Ilio, Fiona Lam and Prisca Ang; File photo; Compiled by BTfrom retailers, newspaperads, Department of Statistics, Ministry of Manpower, ECA, Hay Group, Towers Watson  -  142 words
    • Article
      Lock icon CNY essentials see a gentler price hike
      956 4  -  Reduced costs from lower oil prices offset by higher wages, monetary policy easing, BT Fa Cai Index shows By Fiona Lam fionalam@sph.com.sg Prisca Ang prisang@sph.com.sg Singapore PREPARE to spend slightly more this festive season, as Chinese New Year food prices inch up again.
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      Lock icon 1MDB pays back RM2b loan owed to Malaysian banks
      676 5 Repayment expected to ease pressure on ringgit and country’s credit outlook Reuters Bloomberg Kuala Lumpur MALAYSIAN state fund 1Malaysia Development Bhd (1MDB) has settled in full a RM2 billion (S$753 million) loan that it owed local banks, its executive director Arul
      Reuters; Bloomberg; PHOTO: BLOOMBERG  -  676 words
    • Article
      Lock icon Dec retail sales rise below economist forecasts
      419 5  -  Data shows 2.6% rise; drag on sales may persist in Jan: CIMB By Prisca Ang prisang@sph.com.sg Singapore SINGAPORE’S retail sales rose by a smaller-than-expected 2.6 per cent in December compared to a year ago. However, excluding the sales of motor vehicles, retail sales
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    • Article
      Lock icon March 4 Budget seminar to offer insights
      319 5  -  By Fiona Lam fionalam@sph.com.sg Singapore PRICEWATERHOUSECOOPERS (PwC) will hold its annual Budget seminar on March 4, after the Budget is delivered on Feb 23, to help individuals and businesses see how the latest Budget measures will affect them. The seminar is hosted in
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    • Article
      Lock icon Asean Economic Community raring to go
      667 6  -  Lee Kuan Yew School of Public Policy dean, Kishore Mahbubani, describes 2015 as a critical year for the 10-member regional grouping By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Kuala Lumpur ANTICIPATION and concern are both abound as Asean gears up for the launch of the
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      54 2 CONTENTS NEWS Top Stories 2-6 Raffles Conversation 8-9 Companies Markets 10-14 Real Estate 15-16 Banking Finance 17 Energy Commodities 18 Technology 19 Consumer 20 Transport 21 Govt Economy 22-25 Opinion 26-27 Wealth 28-30 LIVING Dining L2-6 Home Garden L7 Style L8-9 Health L10 Travel L11 Beauty L12-13 Motoring L14-15 Sport
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      55 3 ONLINE SALE www.oaks.com.sg Wine, Whisky, Sake, Champagne, Life Style and Wine ACCeSSOrieS Over 500 products available Chinese New Year Offer! Penfolds Bin 170 Limited Edition Kalimna Shiraz 2010 Now: S$1.888.00 98 Usual: S$2t247tO0 It's A 'Discovery! The Oaks Cellars Pte Ltd 315 Outram Road #12-09 Tan Boon Liat Building Singapore
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      524 7 Lasting luxury THE Bulgari Octo Maserati chronograph, which marks Bulgari’s 130th anniversary, is also a celebration of the 100th birthday of an iconic Italian sports car manufacturer. Fittingly it’s driven by a chronograph movement nicknamed “Velocissimo, or literally “the fastest”. Calibre BVL 328 sure beats at a very high frequency
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Transforming CapitaLand
      3012 8 / 9  -  CapitaLand CEO Lim Ming Yan talks to Vikram Khanna about how he is repositioning the group to deal with Asia’s changing real estate landscape Vikram Khanna vikram@sph.com.sg LIM Ming Yan is in his element when he shows you around the life-like architectural scale models of all the Raffles
      PHOTO: ARTHUR LEE  -  3,012 words
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  • COMPANIES & MARKETS
    • Article
      Lock icon UOB’s Q4 profit within analyst expectations
      827 10  -  Earnings rise 1.7% to S$786m; bank doesn’t see systemic weakness in its loan books By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore BACKED by broad-based growth, United Overseas Bank (UOB) on Friday posted fourth-quarter earnings that came within market expectations despite a dip in margin.
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    • Article
      Lock icon Bad debt patches show up in Singapore banks’ Q4 results
      668 10  -  By Jamie Lee leejamie@sph.com.sg @JamieleeBT Singapore AS the three Singapore banking groups posted their fourth-quar-ter results this week, the market’s focus was on where the lenders stood in terms of bad debt charges and their commodity exposure amid the plunge
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    • Article
      Lock icon Perennial posts S$21m profit for half year
      538 11  -  Earnings, revenue buoyed by fair value gains, income from operational property assets By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore PERENNIAL Real Estate Holdings Ltd (PREH) posted a net profit of S$20.97 million and revenue of S$21.76 million for the six months ended Dec 31,
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    • Article
      Lock icon Metro posts Q3 profit of S$63.9m
      218 11  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore METRO Holdings’ net profit for the third quarter ended December more than doubled, from S$29.3 million to S$63.9 million, thanks to a bump in share of associates’ results. Share of results of associates came in at S$66.9 million
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    • Article
      Lock icon Strong new income streams from Australand, FHT boost FCL’s profit
      415 11  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore FRASERS Centrepoint Ltd (FCL) has reaped the first fruits of its strategic initiatives last year, marking a 55 per cent jump in its net profit for the fiscal first quarter ended Dec 31, 2014
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    • Article
      Lock icon Lack of one-off gain hits Tat Hong’s Q3
      312 11  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore Singapore THE lack of a one-off S$13-mil-lion gain from the disposal of purchase rights for a plot of Iskandar Malaysia land meant that crane supplier Tat Hong Holdings reported a 63 per cent drop in net
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    • Article
      Lock icon STI STOCKS
      312 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 240 unch 241/238 263 212 5.9 6068 CapitaLand 360 +3 360/356 364 268 18 2.2 *****.2 CapitaMall Trust 211 unch 212/208 226 180.5 5.1 7319.6 CityDev 1030 -9 1043/1025 1118 907 14
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      Lock icon SGX ETFs Most Active
      113 12 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS India US$ US803 +21 563 803/790 1000/567 800/803 100.4 Nikko AM STI ETF 348 +1 345 350/347 422/308 347/348 8.4 UETF SSE50China 227 +2 108 227/225 238/140 224/226 70.9 ABF SG Bond ETF 116
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    • Article
      Lock icon SIBOR
      31 12 Feb 13 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) (SS) 1 mth 0.***** Source: Thomson Reuters
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      795 12 For week beginning Feb 9 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Falcon Energy 11-Feb-15 Neo Chin Lee Buy 500 0.27 ***** 1.53 ***** 1.61 Venture Corp 09-Feb-15 Aberdeen
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      Lock icon SECURITIES TRADING SCOREBOARD
      186 12 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 3 2 0 0 0 7 3 2 Manufacturing 50 43 35 7 10 6 57 53 41 Commerce 17 19 20 6 6 5 23 25 25 Tpt/Stor/Comms 23 10 8
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      Lock icon SECURITIES TRADING TURNOVER
      121 12 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 28,485 28,485 110,034 110,034 Manufacturing 183,206 45,572 228,778 139,304 1,674 140,978 Commerce 65,407 17,554 82,961 89,495 837 90,331 Tpt/Stor/Comms 144,749 46 144,795 284,783 10 284,793 Finance 20,316 111 20,427 218,779 28 218,807 Construction 16,002 5,077
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      Lock icon UNUSUAL ACTIVITY
      86 12 VOL CLOSE($) CHANGE VGO 100.7 0.200 +0.015 +8.11 HL Global Ent 370.0 0.040 +0.011 +37.93 Design Studio 256.9 0.535 +0.065 +13.83 Nico Steel 95.0 0.120 +0.030 +33.33 Yong Xin Intl 85.0 0.025 -0.007 -21.88 Soon Lian 141.0 0.136 +0.006 +4.62 8Telecom 119.0 0.123 +0.013 +11.82 Amtek Engg 2,825.2
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      Lock icon OTHER SINGAPORE INDICES
      77 12 Source for FTSE ST Indices: Interactive Data Feb 13 VALUE CLOSE BT OB/OS -393.00 +45.00 BT CADI -*****.00 +37.00 BT 10-day MA -*****.00 -39.00 FTSE ST Mid Cap 782.35 +2.16 FTSE ST Small Cap 495.58 -0.37 FTSE ST All Share 822.63 +1.65 FTSE ST China Top 193.38
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    • Article
      Lock icon COMMODITY FUTURES
      193 13 Feb-12 Price Net change change Last Trade Agricultural Feb-12 CBOT Soybeans (US cents/bu) 983.75 6.00 0.61% 13/03/2015 CBOT Soybean Oil (US cents/lb) 32.01 0.26 0.82% 13/03/2015 CBOT Wheat (US cents/bu) 521.25 -4.50 -0.86% 13/03/2014 Feb-12 LIFFE Cocoa (£/tonne) 2016.00 7.00 0.35% 16/03/2015 LIFFE Coffee (US$/tonne) 1988.00 46.00 2.37%
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    • Article
      Lock icon PALM OIL
      56 13 Feb 13 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Feb 15 2265.0 182 Mar 15 2285.0 2271.0 2293.0 2267.0 844 ***** Apr 15 2311.0 2285.0 2312.0 2276.0 ***** ***** May 15 2309.0 2287.0 2309.0 2276.0 ***** *****
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      Lock icon GOVERNMENT SECURITIES
      61 13 Feb 13 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 103.11 5-Year N*****0H 1.625 01-Oct-19 100.4 10-Year NY*****H 3.000 01-Sep-24 107.81 108.37 108.06 15-Year NY*****E 2.875 01-Jul-29 105.08 105.20 105.20 20-Year NZ*****V 3.375 01-Sep-33 112.13 30-Year NA*****N 2.750 01-Apr-42
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      Lock icon INTERBANK CURRENCY RATES
      154 13 Feb 13 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0527 1.0535 0.7762 0.7767 Canadian dollar 1.0837 1.0843 0.7994 0.7991 Euro 1.5499 1.5504 1.1428 1.1430 NZ dollar 1.0086 1.0094 0.7437 0.7442 Sterling pound 2.0875 2.0884 1.5392 1.5397
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      Lock icon STOCK MARKETS
      2 13
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      Lock icon BONDS, WARRANTS, PREFERENCE SHARES
      206 13 Feb 13 Most active Prem Expiry Last Vol Conv Exer Disc Gear-Mths Company Sale +or-('000) Ratio Price ing Left OCBC Bk MB eCW*****3 4.8 -1.2 7004 0.2 1060 2 DBS MB eCW*****0 10.9 -0.9 3601 0.2 1980 2 Wilmar MB eCW*****1 6.7 0.1 3100 0.2 330
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      368 13 In local curr In S$ In US$ dy yr dy yr dy yr Feb 12 Index Change Change Change Change Change Change World Preliminary 1311.0 0.6 2.8 0.6 4.1 0.9 1.6 EAFE Preliminary 1036.3 0.8 5.0 1.1 5.2 1.4 2.7 Europe Preliminary 1462.4 0.9 5.8
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    • Article, Illustration
      Lock icon Commodity plays, HPH Trust lift STI
      734 14  -  STOCKS Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Correspondent IN A day where Asian stocks broadly rose, including Australian mining and resources stocks, commodity plays Wilmar International and Noble Group lifted Singapore’s benchmark Straits Times Index (STI), along with container port owner Hutchison Port Holdings Trust. Banks
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    • Article
      Lock icon OUE posts S$1.09b profit for FY14, reversing earlier loss
      281 14  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore BUOYED by its divestments, integrated property developer OUE Ltd has posted a net profit of S$1.09 billion for its financial year ended Dec 31, 2014, rebounding from the S$36.6 million loss a year ago. This
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    • Article
      Lock icon Currency devaluation hits Olam’s Q4
      406 14  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore SHARES for Olam International fell 1.5 per cent, or 3 cents, to S$2 on Friday, after the firm said broad-based currency devaluation dragged down its earnings by 12 per cent in the fourth quarter. Net profit for the quarter
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Mining tycoon selling Swettenham Rd GCB
      999 15  -  Price of S$23.52 million for two-storey freehold bungalow translates into S$1,543 psf By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT INDONESIAN mining tycoon Low Tuck Kwong is said to be the party selling a Good Class Bungalow (GCB) along Swettenham Road for S$23.52 million. This translates into
      PHOTO: ARTHUR LEE  -  999 words
    • Article
      Lock icon China govt fund pays bulk of US$1b for Tokyo landmark
      367 15 Reuters Tokyo CHINA’S sovereign wealth fund China Investment Corp (CIC) provided most of the capital for a more than US$1 billion purchase of Tokyo’s landmark property Meguro Gajoen from Mori Trust Co, in China’s largest investment in Japanese property, advisers
      Reuters  -  367 words
    • Article
      Lock icon Househunt
      842 16 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN DEC 31, 2014 AND JAN 6, 2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED Marina One Residences Apt 05/01/2015 99 700 1643 2348 The Clift Apt 02/01/2015
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon China eases borrowing by firms in free zone
      422 17 It removes regulatory hurdles and allows firms to borrow up to twice their capital base Reuters Shanghai CHINA has opened the door of its tightly controlled capital account a fraction wider by allowing firms operating within its Shanghai free trade zone to
      Reuters; PHOTO: BLOOMBERG  -  422 words
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      Lock icon Marin leaving JPMorgan in reshuffle
      513 17 Bloomberg Hong Kong TODD Marin is exiting JPMorgan Chase Co, the most senior investment banker to leave the firm in Asia since 2012, as it shuffles management in the region. The departure of Mr Marin, Asia-Pacific vice-chairman of investment banking and a 26-year veteran of
      Bloomberg  -  513 words
    • Article
      Lock icon AIG Q4 earnings miss estimates on low rates
      341 17 Reuters New York AMERICAN International Group reported lower-than-expected fourth-quarter earnings on Thursday as low interest rates and refinancing expensive debt hurt the insurer’s results. The New York-based company, the largest commercial insurer in the United States and Canada, reported a 67 per
      Reuters  -  341 words
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  • ENERGY & COMMODITIES
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      Lock icon Eurozone worries spark leap in gold sales
      429 18 Dealer Degussa says Germany’s gold coin sales soar 35% year on year in January Reuters London PHYSICAL gold sales in Europe jumped in January, dealers said, as concerns over the eurozone’s outlook sparked by central bank action and anti-bailout party Syriza’s victory in
      Reuters; BLOOMBERG  -  429 words
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      Lock icon India overtakes China as biggest gold consumer in 2014
      340 18 AFP London CHINA lost its place to India as the world’s biggest gold consumer in 2014, sector data showed on Thursday, hit by collapsing jewellery demand after one year in the top spot. Indian gold demand sank 14 per cent to
      AFP  -  340 words
    • Article
      Lock icon Norway talks on huge oil find ‘critical’ as deadline nears
      486 18 Bloomberg Oslo WRANGLING over how to divide the spoils of Norway’s biggest oil find in decades remain at a “critical” stage, hours before development plans are due to be submitted for a field that may deliver as much as US$175
      Bloomberg  -  486 words
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  • TECHNOLOGY
    • Article, Illustration
      Lock icon Apple’s worth over US$1 trillion: Carl Icahn
      526 19 But other US investors reckon it will take years for Apple’s stock value to get there Reuters San Francisco ACTIVIST investor Carl Icahn thinks Apple Inc is already worth over US$1 trillion but others on Wall Street think it will take a few
      Reuters; PHOTO: BLOOMBERG  -  526 words
    • Article
      Lock icon China’s Xiaomi to enter US in a small way
      394 19 Reu ters San Francisco XIAOMI, China’s largest smartphone company, will begin selling headphones, smart wristbands and other accessories online in the United States in coming months, taking its first tentative step onto Apple Inc’s home turf without its signature Mi mobile
      Reuters  -  394 words
    • Article
      Lock icon Microsoft said to be mulling buying more mobile apps
      301 19 Bloomberg Seattle MICROSOFT Corp CEO Satya Nadella has a new strategy to make the company a purveyor of popular mobile applications: acquire them. The software company is planning over the next few months to buy mobile-productivity applications that work on Apple
      Bloomberg  -  301 words
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      68 19 HOT PROPERTY NO.15 JALAN TANJONG New FH. 3-sty Inter Terr roof gdn. 2284/6289 sqft. 5+1. Award winning architect. Agt Full Comm. BEST PRICE! KERIS Simply Magnificent 2.5 sty Corner Terr. 2400 sf, 3+1 move in. $3.xM. FRANKEL AREA DETACHED 2-sty 10,280 sf. 5+1. Rare! F'hold. Greenery, Big gdn. Exclusive living.
      68 words
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  • CONSUMER
    • Article, Illustration
      Lock icon China entering New Year with less pork, more thrift
      423 20 For many the coming year holds even less promise than 2014 Reuters Shanghai THE coming Lunar New Year will be a damp squib for Ding Shen, the 34-year-old owner of Beautiful Scenery Fireworks, who like a lot of China’s entrepreneurs is
      Reuters; PHOTO: AFP  -  423 words
    • Article
      Lock icon Award-winning baker burned by French work rules
      532 20 AFP Paris STEPHANE Cazenave, who won national acclaim last year for baking the best baguette in France, has hit the headlines again not for his bread, but for breaching regulations requiring him to close his store once a week. His case has plunged
      AFP  -  532 words
    • Article
      Lock icon Argentine youth long for pricey high-tech gadgets
      483 20 AFP Buenos Aires TEN-YEAR-OLD Cloe Barrios spent a year saving for an iPod, a struggle shared by many Argentine youth scrambling to keep up with technology despite economic woes that make such gadgets exorbitantly pricey. The third-largest economy in Latin America, Argentina was
      AFP  -  483 words
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  • TRANSPORT
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      241 21 IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF NANYANG MARITIME (S’PORE) PTE LTD (IN MEMBER’S VOLUNTARY LIQUIDATION) (Company Registration No. *****0164C) NOTICE IS HEREBY GIVEN that it was resolved at an Extraordinary General Meeting of member of the abovenamed company held on 12 February
      241 words
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  • GOVERNMENT & ECONOMY
    • Article
      Lock icon Import prices post biggest drop since 2008
      428 22 Export prices also fall 2% in January, the largest decline in more than three years LATEST US DATA Reuters Washington US import prices recorded their biggest drop in six years in January as the cost of petroleum and a range of other goods
      Reuters  -  428 words
    • Article, Illustration
      Lock icon Eurozone economy accelerates thanks to German ‘thunderbolt’
      393 22 Reuters Brussels EUROZONE economic growth accelerated unexpectedly in the final quarter of 2014 as the bloc’s largest member, Germany, expanded at more than twice the expected rate. A preliminary estimate showed that the economy of the 18 countries sharing the euro expanded by
      Reuters; PHOTO: BLOOMBERG  -  393 words
    • Article
      Lock icon US economy may post best performance in 10 years in 2015: poll
      526 22 Reuters Washington THE US economy is set to record its best performance in a decade this year as a rapidly strengthening labour market buoys domestic demand, giving the Federal Reserve the confidence to start tightening monetary policy, a
      Reuters  -  526 words
    • Article, Illustration
      Lock icon China and S Korea show interest in joining TPP
      556 23  -  US official says TPP is the vital next step to uniting Asia-Pacific region By Anthony Rowley btworld@sph.com.sg Tokyo CHINA and South Korea are showing increasing interest in joining the Trans-Pacific Partnership (TPP) as entry negotiations on the major Asia-Pacific trade agreement
      PHOTO: REUTERS  -  556 words
    • Article, Illustration
      Lock icon China sees 7% growth floor with reforms
      562 24 That’s lowest deemed necessary to stop unemployment from rising Reuters Beijing CHINESE authorities will cut interest rates, increase liquidity and tolerate some currency weakness to ensure the economy grows around 7 per cent this year, as they try to head off deflation and
      Reuters; PHOTO: BLOOMBERG  -  562 words
    • Article, Illustration
      Lock icon Venezuela unveils new forex system
      480 24 Reuters Caracas VENEZUELA on Thursday unveiled a devaluation of 69 per cent at the opening of a new free-floating currency exchange rate system, part of President Nicolas Maduro’s efforts to shore up the Organization of the Petroleum Exporting Countries (Opec) nation’s coffers amid tumbling crude
      Reuters; PHOTO: BLOOMBERG  -  480 words
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      Lock icon RBA chief: Lower rates still capable of supporting demand
      586 25 They can still help economy’s transition, he says as he tells MPs why central bank cut rates last week Reuters Sydney INTEREST rate cuts may not have the same power in boosting demand as they once had, but they can still
      Reuters  -  586 words
    • Article
      Lock icon Glimpses of Indian optimism and frustration
      471 25 NYT Mumbai ARRIVING at the new international airport in Mumbai after an interval of several years feels like having gotten on the wrong connecting flight and ending up in Shanghai. The building is sparkling. The walkway to the immigration counter doubles as a museum
      NYT  -  471 words
    • Article
      Lock icon Norway’s SWF faces lower returns as bond yields decline
      277 25 Reuters Oslo NORWAY’S sovereign wealth fund (SWF), the world’s largest, faces diminishing returns due to low bond yields and should reduce its fixed-income portfolio in favour of real assets, its central bank governor said on Thursday. The US$860 billion fund, built
      Reuters  -  277 words
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      145 23 Discover joy of reading The Straits Times C in i ii\ r w I M u 4 Choose from 6 amazing gifts when you subscribe now! Lenovo TAB 2 A7-10 r<? HTC RE Camera THE STRAITS TIMES Print Online Smartphone Tablet See more gifts and subscribe at www.stsub.com.sg/stfebl5 or call
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  • OPINION
    • Article, Illustration
      Lock icon How to unlock power of S’pore non-profits
      1168 26 / 27  -  NPOs must recruit a thriving community of advisers from the private sector, and get the best and brightest to join them. By Sebastian Lay and Usman Akhtar By Sebastian Lay, Usman Akhtar ~Sebastian Lay is a partner in Bain Company’s Singapore office and
      FILE PHOTO  -  1,168 words
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      Lock icon Trust but verify: The future of information research in S’pore
      866 26 / 27  -  By Tim Hunt ~Sir Tim Hunt is a 2001 Nobel laureate in Physiology or Medicine. He was in Singapore last month to speak at the Global Young Scientists Summit 2015 SINGAPORE has managed to build an enviable economic position, despite
      FILE PHOTO  -  866 words
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  • Wealth
    • WEALTH INVESTING
      • BROKERS’ TAKE
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          Lock icon Nam Cheong
          150 28 / 29 Add CIMB Research Feb 13 Feb 13 close: S$0.32 Target price: S$0.39 Nam Cheong’s 4Q14 core net profit of RM49.1m (-30 per cent y-o-y) was in line with our and consensus expectations, at 16 per cent of our full-year forecast (FY14 core net profit at 97 per cent).
          150 words
        • Article
          Lock icon Wilmar International
          211 28 / 29  -  Compiled by Andrea Soh Buy OCBC Investment Research Feb 13 Feb 13 close: S$3.30 Target price: S$3.50 Revenue for Wilmar International Limited (WIL) slipped 7.3 per cent y-o-y (down 6.5 per cent q-o-q) to US$10,777.7 million, after weaker CPO prices resulted in lower Palm Laurics revenue and Plantations
          211 words
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        Lock icon The wages of sin are higher than ethical investing
        1001 28 / 29  -  US$10,000 invested in the Vice Fund in 2002 grew to US$33,655 at the start of 2015. By Genevieve Cua By Genevieve Cua gen@sph.com.sg @GenCuaBT Responsible investing appears to have entered the mainstream as more large institutional funds apply screens or take
        Source: Credit Suisse Global Investment Returns Yearbook 2015  -  1,001 words
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        Lock icon Lovers will spend US$4.8b on gold for Valentine’s Day
        938 28 / 29 Bloomberg New York INVESTORS may have fallen out of love with gold, but romantics bolstered by a better economy are pushing US jewellery sales for Valentine’s Day to the highest in at least five years. After getting a raise in December,
        Bloomberg; FILE PHOTO  -  938 words
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        Lock icon Mixing psychology and wealth management
        1529 30  -  Financial therapy gets people thinking about the financial decisions they make not their investment returns By Paul Sullivan NYT I FELT calm as I sat on a blue couch for my close encounter with the nascent field of financial therapy. I watched as Joel Reimer,
        NYT; PHOTO: NYT  -  1,529 words
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon US chains pull dietary supplements off shelves
      465 31 NY A-G threatens legal action for unsubstantiated claims NYT New York THE New York state attorney-general’s office issued subpoenas to four major retailers on Wednesday demanding that they provide evidence for a variety of health claims printed on the labels of the dietary
      NYT; PHOTO: AFP  -  465 words
    • Article, Illustration
      Lock icon Cheaper strawberry delights for Valentine’s Day lovers
      432 31 Bloomberg Chicago STRAWBERRY prices have fallen just in time for lovers in the market for Valentine’s Day treats. A mix of cool nights and warm days has created “almost perfect” growing conditions for the fruit, according to Kenneth Parker, executive director of the
      Bloomberg  -  432 words
  • Page 31 Miscellaneous
    • Miscellaneous
      Lock icon Page 31 Miscellaneous Column 1
      333 31 CRYPTIC CROSSWORD Across 1 Somewhat inferior new Manchester United whizz kid? (6-4) 9 Make a record (4) 10 Assesses pans for roasts? (10) 11 Tantrum shown by office worker about over (6) 12 Shoots the messengers? (7) 15 Upper-class original Bond girl having taken top off is déshabillé (7) 16
      333 words
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      115 32 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE VALLÉE DE JOUX. FOR MILLENNIA A HARSH, UNYIELDING ENVIRONMENT; AND SINCE 1875 THE HOME OF AUDEMARS PIGUET, IN THE VILLAGE OF LE BRASSUS. THE EARLY WATCHMAKERS WERE SHAPED HERE, IN AWE OF THE FORCE OF NATURE YET DRIVEN TO MASTER
      115 words