The Business Times, 17 February 2015

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Microfilm: NL33375
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 SCtI A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G C ©BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 Tuesday, February 17,2015
    24 words
  • DAILY DIGEST
    • Article
      Lock icon The Monetary Authority
      34 1 of Singapore’s new proposals to help develop a securities crowdfunding market have earned limited praise from the industry for bringing clarity to the fog of a frontier business. TOP STORIES 2
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    • Article
      Lock icon Straco Corporation has
      37 1 posted a fourth-quarter net profit of S$4.43 million, down 21.4 per cent on one-off expenses of S$1.98 million related to the acquisition of the Singapore Flyer and a foreign exchange loss. COMPANIES MARKETS 8
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    • Article, Illustration
      Lock icon Some Chinese developers
      42 1 are planning to raise prices for new luxury projects in prime areas this year, in a rare sign of improving sentiment in a market that saw new home prices fall for the last eight months of 2014. REAL ESTATE/9
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    • Article
      Lock icon While the financial sector
      30 1 is racing to embrace digital technology to boost sales and drive profits, the traditionally staid insurance industry is in danger of falling behind. BANKING FINANCE 11
      30 words
    • Article
      Lock icon An Australian company
      38 1 has recalled its frozen berry products following a hepatitis A outbreak linked to poor hygiene and water supplies in a Chinese packaging plant, reigniting fears about the safety of the Asian giant’s food exports. CONSUMER/14
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    • Article
      Lock icon The US House Speaker
      49 1 John Boehner, has said he was “certainly” prepared to allow funding for the Department of Homeland Security to lapse, raising the possibility that one of the government’s largest and most vital agencies could be shut down at the end of the month. GOVERNMENT ECONOMY /18
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  • Article
    Lock icon MARKETS
    25 1 Monday Change STI 3,427.16 +0.94 KL COMP 1,808.89 +7.94 NIKKEI 225 18,004.77 +91.41 HANG SENG 24,726.53 +43.99 SHENZHEN B 1,096.51 -3.41 DOW CLOSED CLOSED
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  • Article, Illustration
    Lock icon Short-selling firm takes aim at Noble
    918 1  -  Newcomer iceberg Research sets a target price of just 10 Singapore cents but says it has no short position on the company By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore NOBLE Group’s shares plummeted 8 per cent on Monday after it became the latest commodity group
    Source: Bloomberg  -  918 words
  • Article, Illustration
    Lock icon Temasek, JTC join hands to create urban development giant
    699 1  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore MONTHS of exclusive talks on merging four of Singapore’s leading players in urban planning and development have concluded with Temasek Holdings and JTC Corporation inking a pact to seal that commitment. This transaction will see
    Source: Temasek, JTC  -  699 words
  • Page 1 Advertisements
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      Lock icon Page 1 Advertisements Column 1
      78 1 Hill 8 '*****1 *****4 CHINA ECONOMY Chinese investors’ appetite for Europe growing OPINION 20 FINANCIAL RESULTS CDL posts record quarterly earnings COMPANIES MARKETS 5 FUNDING OPTIONS Make crowdfunding tax-friendly for startups SME/24 PROPERTY Developer sales surge 62% in January, thanks to more launches TOP STORIES 4 A £3 61 o.
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  • TOP STORIES
    • Article
      Lock icon MAS crowdfunding proposals draw mixed views
      736 2  -  Lower capital requirements welcomed, but restricted investor pool in contention By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore NEW proposals by the Monetary Authority of Singapore (MAS) to help develop a securities crowdfunding market has earned limited praise from the industry for bringing clarity to the
      736 words
    • Article
      Lock icon PM’s prostate-cancer surgery a success
      474 2  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE operation to remove Prime Minister Lee Hsien Loong’s prostate gland on Monday morning was a success and he is now recovering. Giving an update on the Singapore leader’s condition, the Prime Minister’s Office said that the robot-as-sisted keyhole
      474 words
    • Article, Illustration
      Lock icon More marriages, citizen babies last year
      477 2  -  Total fertility rate was 1.25 last year, up from 1.19 the year before By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore MORE Singaporeans tied the knot last year and hospitals were busier too, delivering babies. Preliminary figures released by the National Population and Talent Division (NPTD)
      FILE PHOTO  -  477 words
    • Article, Illustration
      Lock icon SMEs take overseas plunge with help from IE Singapore
      638 2 Proportion of firms with overseas revenue hits half; company’s size not criterion to get helping hand from IES By Chuang Peck Ming peckming@sph.com.sg Singapore SMALL and medium enterprises have taken big steps in expanding overseas thanks in no small way to
      638 words
    • Article, Illustration
      Lock icon Developer sales surge 62% in Jan, thanks to more launches
      783 4  -  But sales figure of 372 units still 35% down y-o-y, and is the lowest for pre-CNY sales since Jan 2009 By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore SINGAPORE developers sold 372 private homes in January, a 62 per cent improvement from
      Source: CBRE  -  783 words
    • Article, Illustration
      Lock icon Household income gains ground in 2014 amid low inflation
      618 4  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore Median household income in Singapore rose at a much faster pace last year compared to 2013, said a Department of Statistics report on Monday. And the lift in income especially after accounting for inflation could
      Source: Department of Statistics  -  618 words
    • Article, Illustration
      Lock icon Japan in tentative recovery after last year’s slump
      719 4  -  By Anthony Rowley btworld@sph.com.sg Tokyo JAPAN’S economy emerged only falteringly from recession in the final quarter of last year as both personal consumption and corporate capital investment levels fell short of expectations, but the Tokyo stock market rose to a near-eight-year high
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  • Page 2 Advertisements
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      Lock icon Page 2 Advertisements Column 1
      65 2 I I I 1 o ITl'Intosh McIntosh MC452 Superlative Stereo Power Amplifier Hand-crafted in the USA V V J We would like to thank all our customers for their support, and would like to wish them a Happy and Prosperous Lunar New Year! From the management and staff of ONG
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      Lock icon Page 2 Advertisements Column 2
      15 2 Brand Your Assets Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your Financial Statements
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  • COMPANIES & MARKETS
    • Article
      Lock icon CDL posts record quarterly earnings of S$384.9m
      851 5  -  Boost from sale of cashflows relating to Quayside Collection project; final dividends totalling 12 cents a share By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore CITY Developments Limited (CDL) posted its best-ever quarterly result on the back of completion of the sale of cashflows of
      851 words
    • Article
      Lock icon Soilbuild reports 13% dip in ‘14 profits
      236 5  -  By Malminderjit Singh msingh@sph.com.sg @MalminderjitBT Singapore SOILBUILD Construction Group (Soilbuild) reported on Monday a net profit of S$20.9 million for the full year ended 31 December 2014,13.1 per cent lower compared to the corresponding period a year ago. This was caused mainly by
      236 words
    • Article, Illustration
      Lock icon Leng Beng sees high-end market recovery in 1-2 years
      803 5  -  By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore CITY Developments executive chairman Kwek Leng Beng sees light at the end of the tunnel for Singapore’s high-end residential market. “I believe the high-end should turn around within a short period of one, two years;
      803 words
    • Article
      Lock icon Accounting gains help Rowsley turn around with FY14 profit of S$49m
      445 5  -  By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore IN ITS first full-year report card as an integrated real estate group, Rowsley turned in a net profit of S$49.4 million for the period ended December 2014, compared with a loss of S$226.3
      445 words
    • Article
      Lock icon ARA Q4 hit by higher expenses, but full-year profit up 18%
      365 5  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore ARA Asset Management, a Reit and funds manager, on Monday said net profit for the fourth quarter fell 18 per cent amid higher expenses. Net profit for the three months ended Dec 31,
      365 words
    • Article
      Lock icon Roxy-Pacific full-year profit up 5% at S$96.7m despite revenue fall
      319 5  -  By Malminderjit Singh msingh@sph.com.sg @MalminderjitBT Singapore ROXY-PACIFIC Holdings announced on Monday that it has achieved a 5 per cent increase in net profit to S$96.7 million for the full year ended Dec 31, 2014, from S$92.3 million in the previous
      319 words
    • Article, Illustration
      Lock icon STI / Catalist
      62 6 STI Catalist Straits Times Index Feb 16,2015 3,427.16 +0.94 (+0.03%) Current streak 2 days Day high 3,427.16 Day low 3,406.13 52-week high 3,444.57 (Feb 11,2015) 52-week low 3,057.20 (Mar 20, 2014) FTSE ST Catalist index Feb 16,2015 714.48 -3.92 (-0.55%) Current streak 1 day Day high 720.20 Day low 714.48
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    • Article, Illustration
      Lock icon Singtel supports STI in weak market
      733 6  -  Noble, UE and NOL plunge for different reasons; the trio and Singtel account for S$280m out of S$1.02b market turnover STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT FOUR stocks stood out in Monday’s trading Singtel, Noble Group, United Engineers (UE) and Neptune Orient Lines (NOL).
      Source: Bloomberg  -  733 words
    • Article
      Lock icon STI STOCKS
      312 6 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 240 halt -/-263 212 5.9 6068 CapitaLand 359 -1 360/357 364 268 18 2.2 *****.6 CapitaMall Trust 210 -1 211/209 226 180.5 5.2 7284.9 CityDev 1026 cd -4 1034/1021 1118 907 13.9
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    • Article
      Lock icon MOST ACTIVE
      38 6 VOLUME IHC 70,832,100 Noble 63,565,900 APAC Strategic 34,150,100 HPH Trust USD 32,261,200 Del Monte Pac R 30,916,700 Market volume 1,015,095,000 VALUE SingTel 122,518,457 United Engineers 72,342,732 Noble 71,153,731 DBS Grp 68,676,131 UOB 59,790,169 Market value 1,023,075,000
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    • Article
      Lock icon SGX ETFs Most Active
      107 6 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS India US$ US805 +2 263 810/802 1000/572 805/808 100.6 Lyxor Japan US$ US121.2 +0.5 121 121.2/120.8 125.5/110 120.4/120.6 19.4 Lyxor Taiwan US119.8 +1.4 108 119.8/118 123.6/101.2 119.3/119.8 28.5 DBXT MSRussia US$ US204 +7 88
      107 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 6 Feb 16 VALUE CLOSE BT OB/OS -419.00 -26.00 BT CADI -*****.00 -78.00 BT 10-day MA -*****.00 -42.00 FTSE ST Mid Cap 778.99 -3.36 FTSE ST Small Cap 493.12 -2.46 FTSE ST All Share 821.98 -0.65 FTSE ST China Top 192.34 -1.04 FTSE ST China 235.31 -0.88 FTSE
      77 words
    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      34 6 STI FTSE ST All-Share ftse ST All-Share index Feb 16,2015 821.98 -0.65 (-0.08%) Current streak 1 day Day high 821.98 Day low 818.25 52-week high 827.11 (Feb 11,2015) 52-week low 745.24 (Mar 20, 2014)
      34 words
    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 6 STI MSCI EAFE MSCI EAFE Index Feb 13,2015 1,839.35 +16.53 (+0.91%) Current streak 2 days Day high 1,841.13 Day low 1,824.61 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
      33 words
    • Article
      Lock icon GAINERS
      74 6 BY CENTS CLOSE UP 52w high/low SPDR S&P500 US$ ***** 338.9 1.2 *****/***** DBXT E50 US$ 4969 184.4 2.8 5630/4562 DBXT MSJAP US$ 4720 122.0 1.9 4814/4260 GLD US$ ***** 92.2 0.6 *****/***** JSH USD 3535 58.3 1.2 3810/3210 BY PERCENTAGE CLOSE UP 52w high/low Cedar Strategic 0.3 50.0
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 8 3 0 0 0 3 8 3 Manufacturing 32 45 41 7 7 10 39 52 51 Commerce 17 15 26 2 4 8 19 19 34 Tpt/Stor/Comms 8 19 10
      186 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      131 6 VOLUME COOO' VALUE I’6001 MAIN LAH KttAt MAIN CAIL ini al Multi mu 37,161 116,-Vt i 16,47a ManysiaiuriiTs ’flO.345 36,355 •176,703 80,493 7,623 >3,’70 CurnmStV' 106,438 V6,5S t 137,987 112,4?? 1.445 113,868 fnl/Slor/Comms ;3>,5W '85 131,629 260,574 26 260,599 Firwnrm U.RftA 70 17,866 1K7, TS? t ’r;,’2S
      131 words
    • Article
      Lock icon LOSERS
      77 6 BY CENTS CLOSE DOWN 52w high/low Great Eastern 2500 -85.0 -3.3 2600/1769 United Engineers 268 -49.0 -15.5 330/175 UOB 2324 -33.0 -1.4 2472/1980 DBXT AUDBonds AU$ ***** -17.9 -0.1 *****/***** Noble 111 -9.5 -7.9 148/94.5 BY PERCENTAGE CLOSE DOWN 52w high/low Del Monte Pac R1 0.1 -80.0 -0.4 4.2/0.1
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    • Article
      Lock icon UNUSUAL ACTIVITY
      83 6 VOL CLOSE($) CHANGE Far East 3,400.0 0.154 +0.014 +10.00 Transcorp 735.8 0.132 +0.013 +10.92 Lasseters Intl 25.0 0.065 -0.027 -29.35 Shanghai Turbo 100.0 0.065 -0.015 -18.75 Pan Hong Prop 611.9 0.098 -0.013 -11.71 Allied Tech 627.0 0.023 -0.003 -11.54 United Engineers 26,851.2 2.680 -0.490 -15.46 Raffles United 9.6
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    • BROKERS’ TAKE
      • Article
        Lock icon Olam International | Hold
        181 6 Olam International Hold Feb 16 close: S$2.01 Target price: S$2.20 DBS Group Research, Feb 16 Q2 FY15 core profit after tax and minority interests (Patmi) (excluding biological gains and exceptional items) fell 19 per cent year-on-year to S$117 million, which was below our expectations. The main cause of the weak
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      • Article
        Lock icon Ezion Holdings | Buy
        240 6  - Ezion Holdings Buy Compiled by Chan Yi Wen Feb 16 close: S$1.17 Target price: S$1.75 OCBC Investment Research, Feb 16 Ezion Holdings reported a 24.9 per cent year-on-year rise in revenue to US$104.6 million and a 106.6 per cent increase in net profit to US$83.7 million in Q4 FY14, boosted
        240 words
    • Article
      Lock icon CALENDAR
      21 6 DATA I8.30 am (Feb 17) Singapore Non-oil Domestic Exports I (Feb 17) Singapore GDP I (Feb 17) Singapore visitor Arrivals
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    • Article
      Lock icon Euro inches up ahead of meeting on Greece
      438 7 CURRENCIES REUTERS London THE euro inched higher on Monday ahead of a meeting of eurozone finance ministers that investors expect will find enough common ground to support Greece beyond its current bailout programme and keep it inside the currency bloc. In a
      REUTERS  -  438 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 7 Feb 16 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.967 4.863 0.681 6.037 48.430 99.130 0.923 8.574 2.783 1.038 78.918 34.445 1.055 9.060 0.723 24.452 25.363 0.504 0.778 Canada 1.034 5.028
        471 words
      • Article, Illustration
        Lock icon HANG SENG
        2 7
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      • Article, Illustration
        Lock icon NIKKEI
        1 7
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 7
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      • Article, Illustration
        Lock icon DOW JONES
        2 7
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 7 Feb 16 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0546 1.0559 0.7779 0.7786 Canadian dollar 1.0906 1.0914 0.8048 0.8044 Euro 1.5482 1.5489 1.1420 1.1422 NZ dollar 1.0165 1.0173 0.7498 0.7502 Sterling pound 2.0916 2.0929 1.5428 1.5433
        155 words
      • Article
        Lock icon US$/S$ FORWARD RATES
        22 7 Feb 16 S$ Bid Offer 1-month 1.3562 1.3569 2-months 1.3568 1.3575 3-months 1.3573 1.3582 6-months 1.3589 1.3595 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES Most active
        205 7 Feb 16 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****0 12 1.1 5188 0.2 1980 2 Rowsley Ltd W*****3 3.9 -0.1 3550 1 18 20 Noble Group MB eCW*****3 4.9 -1 3100 0.4 120
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 7 In local curr In S$ In US$ dy yr dy yr dy yr Feb 13 Index Change Change Change Change Change Change World Preliminary 1319.9 0.4 3.5 0.3 4.7 0.6 2.4 EAFE Preliminary 1043.1 0.7 5.7 0.7 5.9 0.9 3.6 Europe Preliminary 1472.4 0.7 6.6
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        369 7 Feb 16 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.01 *****.26 *****.90 Mar15 *****.00 *****.00 *****.00 *****.00 *****5 *****4 Jun15 *****.00 *****.00 *****.00 *****.00 83 4435 MSCI TAIWAN INDEX FUTURES SPOT 352.70 354.47 352.70 Feb15 353.60 357.10 353.30 *****0 *****6 Mar15 354.10 357.40
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 7 Feb 16 $S Offer Bid 0vernight 0.15 0.10 1-month 0.625 0.50 2-months 0.625 0.50 3-months 0.6875 0.5625 Overnight mode: 0.10 US$ 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
        154 words
      • Article
        Lock icon SIBOR
        36 7 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** Feb 16 SWAP Offer rates (S$) 1 mth 0.***** 3 mths 0.***** 6 mths 0.***** Source: Thomson Reuters
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      • Article
        Lock icon GOVERNMENT SECURITIES
        69 7 Feb 16 Feb 16 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-19 100.3 100.40 100.35 10-Year NY*****H 3.000 01-Sep-24 107.28 107.60 107.50 15-Year NY*****E 2.875 01-Jul-29 104.38 104.50 104.50 20-Year NZ*****V 3.375 01-Sep-33 111.22
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        253 7 Feb-13 Price Net change change Last Trade Agricultural Feb-13 CBOT Soybeans (US cents/bu) 990.50 6.75 0.69% 13/03/2015 CBOT Soybean Oil (US cents/lb) 32.40 0.39 1.22% 13/03/2015 CBOT Wheat (US cents/bu) 533.00 11.75 2.25% 13/03/2014 Feb-13 LIFFE Cocoa (£/tonne) 2018.00 2.00 0.10% 16/03/2015 LIFFE Coffee (US$/tonne) 2009.00 21.00 1.06%
        253 words
    • Article
      Lock icon One-off acquisition expenses drag down Straco’s Q4 profit
      481 8  -  Earnings for 2014 final quarter down more than a fifth at S$4.43m By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore ONE-OFF expenses of S$1.98 million related to the acquisition of the Singapore Flyer, coupled with an exchange loss of S$ 3 7,000 versus
      481 words
    • Article
      Lock icon YuuZoo buys gaming firm in S$18m deal
      300 8  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore SOCIAL media company YuuZoo on Monday said it has acquired Singa-pore-based gaming company IAHGames for about S$ 18 million in an all-share deal. The issuance was of 50 million YuuZoo shares at S$1 apiece, representing an almost
      300 words
    • Article
      Lock icon Linc selling conventional coal assets
      160 8 Singapore LINC Energy is selling all of its conventional coal assets to United Queensland Resources, which is part of the United Mining Group, for about A$5 million. “The sale of our conventional coal exploration, development and mining business in Queensland to the United Mining Group
      160 words
    • Article, Illustration
      Lock icon NOL falls 3% on news of further losses
      485 8  -  HOT STOCK By Malminderjit Singh msingh@sph.com.sg @MalminderjitBT Singapore SHARES in Neptune Orient Lines (NOL) fell nearly 3 per cent in trading on the Singapore Exchange (SGX) on Monday, the first day of trade after the company posted another loss-making year last Friday.
      Source: Bloomberg  -  485 words
    • Article
      Lock icon Commodities tar CWT’s FY14 revenue growth
      441 8  -  By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore LOGISTICS, commodity and engineering group CWT posted a 5 per cent gain in 2014 net profit as a margin squeeze in commodity marketing offset a jump in revenue. CWT said net profit for the year to end-December 2014
      441 words
    • Article
      Lock icon Cordlife posts Q2 loss of S$3.3m
      259 8  -  By Malminderjit Singh msingh@sph.com.sg @MalminderjitBT Singapore CORDLIFE Group reported a net loss of S$3.3 million for its second quarter, compared to the net profit of S$4.2 million posted during the corresponding period last year. This was despite the group posting a 17.5 per cent
      259 words
    • Article
      Lock icon RMG profit down on absence of one-time gain
      421 8  -  By Prisca Ang prisang@sph.com.sg Singapore PRIVATE healthcare operator Raffles Medical Group (RMG) has posted a 20.3 per cent fall in net profit to just under S$ 68 million for the year ended Dec 31, 2014, mainly because there was a gain on
      421 words
    • Article
      Lock icon Cosco (S’pore) net slips 32% to S$20.9m for 2014
      389 8  -  By Malminderjit Singh msingh@sph.com.sg @MalminderjitBT Singapore COSCO Corp (Singapore) posted a 32 per cent drop in its 2014 net profit to S$20.9 million from 2013. The shipbuilding and shipping company saw a 21 per cent surge in revenue to S$4.26 billion,
      389 words
    • Article
      Lock icon Ezion Q4 profit doubles to US$84m
      382 8  -  By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore OFFSHORE marine group Ezion Holdings capped 2014 with a strong showing, notching up just over a two-fold increase in quarterly net profit to US$83.7 million from US$40.5 million a year ago. The firm, one of the largest in
      382 words
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      Lock icon Page 5 Advertisements Column 1
      179 5 m SCALING NEW HEIGHTS. MAKING THE DIFFERENCE IN PEOPLE'S LIVES. Their science has made an impact on the economy and society. Has yours? President’s Science Technology Awards 2015 PTA 2014 Winners Prof Wong Tien Yin (SERI), Prof Wynne Hsu and Prof Lee Mong Li (NUS) PSTM 2014 Winner PSA 2014
      179 words
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Kaisa says total debt now over US$10b, looking to restructure
      495 9 KAISA WOES REUTERS Hong Kong TROUBLED Chinese developer Kaisa Group disclosed on Monday that its debts now total more than US$10 billion and that it needs to urgently restructure its borrowings in order for a proposed rescue deal by Sunac
      REUTERS; PHOTO: REUTERS  -  495 words
    • Article
      Lock icon Kaisa dispute unearths debt skeletons
      386 9  -  REUTERS BREAKINGVIEWS By John Foley Beijing WHEN investing in property, check the basement. Kaisa shows what happens when that advice is ignored. Days after rattling lenders with a late interest payment, the Chinese developer has announced its debts are double the level it reported at
      386 words
    • Article, Illustration
      Lock icon Chinese developers eye price hikes for new high-end projects
      631 9 But trend is not likely to spill over into broader market due to a glut of unsold homes Hong Kong SOME Chinese developers are planning to raise prices for new luxury projects in prime areas this year, in a rare sign
      PHOTO: REUTERS  -  631 words
    • Article
      Lock icon Miami looks to China to sustain real estate growth
      840 9 Chinese buyers make up less than 5% of total but it is growing BLOOMBERG Miami MIAMI has a Little Havana and Little Haiti, a neighbourhood known as Westonzuela and even the Venetian Islands. What it doesn’t have is a Chinatown. Li
      BLOOMBERG  -  840 words
    • Article, Illustration
      Lock icon Singapore’s property market mixes the best and worst in Asia
      885 10 CBD office rents up 14% last year, the biggest jump in region, while luxury home prices slumped 6%, the most in Asia BLOOMBERG Singapore WHEN it comes to the best and worst property markets in Asia, Singapore has it covered.
      BLOOMBERG; FILE PHOTO  -  885 words
    • Article
      Lock icon Asking prices for UK homes up in Feb
      319 10 Rising demand, due to fall in oil prices and higher wages, outstripping supply BLOOMBERG London ASKING prices for UK homes increased at a faster pace this month amid a shortage of property for sale, Rightmove said on Monday. Prices sought rose 2.1
      BLOOMBERG  -  319 words
    • Article
      Lock icon Germany’s No 2 housing landlord bids 980m euros for Austrian rival
      359 10 BLOOMBERG Berlin DEUTSCHE Wohnen AG, Germany’s second-largest residential landlord, plans to make a bid for Conwert Immobilien Invest SE that values the Austrian competitor at about 980 million euros (S$ 1.5 billion). Deutsche Wohnen will offer 11.50 euros a
      BLOOMBERG  -  359 words
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      Lock icon Page 9 Advertisements Column 1
      220 9 Australian Property Finance Have you recently bought an Australian property and need a loan to complete the transaction? Already own and want to ensure you have the best loan? CONTACT SPECIALIST MORTGAGE HERE IN SINGAPORE FOR FREE IMPARTIAL ADVICE TO REVIEW ALL OF YOUR OPTIONS. Web www.smats.net Email smats@smats.net 10
      220 words
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      70 10 12th edition 19 22 March 2015 Singapore EXPO Hall 6 11am 10pm Daily Participate in Singapore’s MEGA Food Beverage Fair Sell local international food products to over 250,000 visitors during the March school holiday period! Book Your Space NOW! *Limited Booths Available! For more information, call *****620 or email to
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      12 10 www.omy.sg N o omy Showbiz is available on APR STORE PLAY STORE
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      40 10 Hospitality Investment Conference Indian Ocean Maldives Mauritius Seychelles Sri Lanka 25-26 May 2015 Colombo, Sri Lanka A New Era 3* m Contact Michelle at +65 6848 5374 or email Herat michelle@sphereconferences.com for sponsorship opportunities Organiser: sphere SINGAPORE PRESS HOLDINGS www.hicio.sphereconferences.com
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon Insurers prove laggards in technology race
      970 11 Industry’s reluctance to embrace technology is partly cultural and partly financial REUTERS London AT a time the financial sector is racing to embrace digital technology to boost sales and drive profits, the traditionally staid insurance industry is in danger of falling behind. Some insurers
      REUTERS; PHOTO: AFP  -  970 words
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      Lock icon Goldman Sachs offers rare glimpse
      194 11 REUTERS New York GOLDMAN Sachs Group Inc’s storied commodities business has made on average US$1.4 billion in annual net revenue over the past five years, the bank said, offering a rare glimpse into one of the industry’s biggest players. Slides from a presentation by chief
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    • Article
      Lock icon Australia Big Four’s profit on loans at 7-year low amid higher bond costs
      546 11 BLOOMBERG Sydney THE profit Commonwealth Bank of Australia and its main competitors make on lending has dropped to a seven-year low as bond costs climb. Net interest margins, the difference between funding costs and the interest charged
      BLOOMBERG  -  546 words
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      Lock icon UBS, Credit Suisse trade Zurich’s costly charm for Polish provinces
      540 11 REUTERS Warsaw SWISS financial titans UBS and Credit Suisse are expanding their operations in provincial Poland in a cost-saving drive made more urgent by the surge in the value of the Swiss franc. Economic imperatives are forcing the banks to
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      1174 11 THE BUSINESS TIMES NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF NAVITAS SYSTEMS PTE. LTD. (In Members’ Voluntary Liquidation) (Company Registration No. *****7141W) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Chapter 50 that the
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  • ENERGY & COMMODITIES
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  • TECHNOLOGY
    • Article, Illustration
      Lock icon Investors get antsy after failure of Google Glass
      1232 13 As Google’s core advertising business slows, company’s ‘science projects’ approach to R&D gets Wall Street wondering about payoff NYT San Francisco GOOGLE’S research arm, Google X, is called the company’s Moonshot Factory. One reason the company picked the word “Moonshot” was to
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      Lock icon The next wave in computer-aided creativity is here
      1101 13 NYT Seattle THE desk space next to personal computers first welcomed paper printers and later made room for 3-D printers that could conjure any shape from spools of plastic. Now new devices, including laser cutters and computer-controlled milling machines, are coming out
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    • Article
      Lock icon UK cybersecurity firm Darktrace to open US office this month
      666 13 Flagship product is Enterprise immune System which mimics behaviour of human immune system WP Washington THE last time British spies and mathematicians from Cambridge University joined forces to battle a global enemy was during World War II, to crack the
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  • CONSUMER
    • Article
      Lock icon Aussie firm recalls berries after hepatitis A outbreak
      446 14 Contamination of the frozen products was traced back to poor hygiene and water supplies in a Chinese packaging plant REUTERS Sydney AN Australian company has recalled its frozen berry products following a hepatitis A outbreak linked to poor hygiene and water supplies
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      Lock icon US deca-millionaire rocket scientist sets sights on your phone
      1197 14 WP Washington A HEADLINE on a story on a Twitter feed a few days ago said that if you’re not rich by 45, it probably isn’t going to happen. Rocket scientist Marc Wallace made it with years to spare. At 44,
      WP; PHOTO: MARK GAIL/THE WASHINGTON POST  -  1,197 words
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      Lock icon Saudi initiative to incubate economic alternatives
      879 14 AFP Riyadh LATEEFA al-Waalan just wanted to make Arabic coffee simple: no more labourious mixing of ingredients and careful attention to boiling. Supported by a Saudi programme to foster, or “incubate”, technology-based businesses with high growth potential, she developed a machine to produce Arabic
      AFP; PHOTO: AFP  -  879 words
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      62 14 lO Wm m^anmar Incorporating: Myanmar retail mT Urban and City Planning Conference 201 5 m^anmarI Real Estate Show Myanmar 2015 29 June -1 July 2015 Yangon, Myanmar I L I Your gateway to trends and investment opportunities in Myanmar's real estate Contact Jason at +65 6848 6051 or email jason@sphereconferences.com
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  • TRANSPORT
    • Article, Illustration
      Lock icon Freight backlog in major western US ports worsens
      740 15 With labour dispute on, Asian suppliers resort to using airfreight, which is more costly REUTERS San Francisco A LABOUR dispute in ports on the US West Coast is disrupting supply chains across the Pacific, forcing some Asian suppliers to resort to costly
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    • Article
      Lock icon China’s US$40b Silk Road fund starts work
      412 15 REUTERS Shanghai CHINA’S US$40 billion Silk Road infrastructure fund has started work along the lines of a long-term private equity (PE) venture to boost businesses in countries and regions along the road, China’s central bank governor was quoted saying on Monday. “The fund
      REUTERS  -  412 words
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      Lock icon US Northeast hit by blizzard, record snowfall and bitter cold
      592 15 REUTERS Boston THE US Northeast struggled on Sunday to dig itself out of the latest in a series of winter storms that has made February the most snowy month in Boston’s history, but bitter cold and huge drifts hampered the
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    • Article
      Lock icon Rail strike in Canada may disrupt major industries across North America
      691 15 NYT Ontario ABOUT 3,000 locomotive engineers and conductors at the Canadian Pacific Railway walked off the job Sunday morning in a dispute over wages and benefits. Although the company said it would try to maintain some service by using
      NYT  -  691 words
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  • GOVERNMENT & ECONOMY
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      Lock icon France hints eurozone should ease stance for Greek deal
      853 16 But EU paymaster Germany strikes a hardline posture REUTERS Paris DEBT-LADEN Greece and EU paymaster Germany struck hardline postures ahead of a crucial meeting of eurozone finance ministers on Monday on the future of an unpopular international bailout for Athens, but
      REUTERS; PHOTO: AFP  -  853 words
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      Lock icon Greece to name presidential candidate after Brussels talks
      493 16 AFP Athens THE Greek government has delayed naming its candidate for president amid reports of internal bickering ahead of Monday’s crunch bailout talks in Brussels. The radical left ruling Syriza party will announce its candidate “after the important Eurogroup meeting” on Greece’s
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    • Article
      Lock icon IMF issues unusually downbeat report on Korean economy
      514 16  -  By Anthony Rowley btworld@sph.com.sg Tokyo THE International Monetary Fund (IMF) has issued a remarkably downbeat assessment of South Korea’s economy following one of its visits to the country under the IMF’s programme of regular economic monitoring and surveillance. Mission leader Brian Aitken
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      Lock icon Eurozone trade surplus increases last December
      312 16 XINHUA Brussels THE Eurozone international trade in goods was expected to witness a surplus of 24.3 billion euros (S$37.6 billion) in December 2014, up from 21.2 billion euros in November, the statistical office of the European Union (EU) Eurostat said on Monday. Compared with
      XINHUA  -  312 words
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      Lock icon Russian singer, deputy ministers top new EU sanctions list
      307 16 REUTERS Brussels A VETERAN Russian singer who voiced support for Russia’s annexation of Crimea has been subjected to EU sanctions in a new blacklist published by the European Union on Monday. Moscow said that the EU had “contradict(ed) common sense” by
      REUTERS  -  307 words
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      Lock icon Shunned by US and Europe, Putin works on making friends in the Asia-Pac
      1381 17 Strengthening ties with India, Pakistan, North and South Korea, and Asean also hedges its bets on China BLOOMBERG Hong Kong BOXED in by the US and its allies, faced with an uneasy relationship with China and needing
      BLOOMBERG; PHOTO: REUTERS  -  1,381 words
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      Lock icon BOE pushes rate-increase view
      443 17 BLOOMBERG London BANK of England (BOE) policymakers Ben Broadbent and Martin Weale said weak UK inflation will be temporary and indicated that the chance of more stimulus remains low. While the bank said last week it could respond to weak price pressures with an interest rate
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    • Article
      Lock icon Indonesia sees surprise trade surplus in Jan as imports dive
      366 17 REUTERS Jakarta INDONESIA posted an unexpected surplus in January after imports slumped, signalling continuing weakness in consumption at a time when exports are flagging. South-east Asia’s largest economy is off to a weak start this year, with exports and imports
      REUTERS  -  366 words
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      Lock icon US House speaker ‘certainly’ prepared for shutdown of Homeland Security
      626 18 House Republicans have tagged anti-immigration stand onto Homeland Security spending plan NYT Washington THE House speaker, John Boehner, has said he was “certainly” prepared to allow funding for the Department of Homeland Security to lapse, raising the possibility that one
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      Lock icon RBI curbs bond flows in bid to ‘bulletproof’ rupee
      745 18 BLOOMBERG Mumbai CENTRAL bank governor Raghuram Rajan is curbing access to India’s bond market as inflows make the rupee Asia’s best performer during a global currency war. The Reserve Bank of India (RBI) hasn’t allowed fresh overseas investment in government bonds
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      Lock icon Copenhagen wakes up to new world order as police roam streets
      1014 18 BLOOMBERG Copenhagen IT’S a city where mothers are used to leaving their babies in prams outside cafes and cyclists can bike through parliament square without encountering a single security guard. Now, Copenhagen is full of heavily armed police officers
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    • Article
      Lock icon Thailand posts dismal full-year growth of 0.7% amid weak exports
      315 18 REUTERS Bangkok THAILAND’S economy grew less than expected in October-December and had full-year 2014 growth of only 0.7 per cent, as exports and consumption remained weak long after a May coup aimed at helping to spur recovery. The poor performance
      REUTERS  -  315 words
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      Lock icon China can’t afford to let yuan slide quickly
      906 19 Median of more than 30 forecasts puts the onshore yuan 1.5% stronger by the year-end at 6.15 against the dollar BLOOMBERG New York CHINA, like much of the world, is beefing up monetary stimulus to boost its economy. Yet, unlike its peers,
      BLOOMBERG; PHOTO: BLOOMBERG  -  906 words
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      Lock icon Modernising China’s agriculture key to tackling slower economy: Li Keqiang
      443 19 REUTERS Beijing MODERNISING Chinese agriculture will help in countering slower economic growth by driving investment in rural infrastructure and boosting consumption, Chinese Premier Li Keqiang said. The Chinese economy grew at its slowest pace in 24 years in 2014 as
      REUTERS; PHOTO: REUTERS  -  443 words
    • Article
      Lock icon China moves to reform hukou
      423 19 It will abolish temporary residence permits given to migrants, offer permanent residency instead REUTERS Beijing CHINA said it will abolish all temporary residence permits for its citizens, taking a small step that some experts said does not address deeper problems in the nation’s household registration
      REUTERS  -  423 words
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      18 16 BUDGET 2015 LATEST NEWS, INFOGRAPHICS ANALYSIS Follow The Business Times’coverage at btd.sg/budget_15 #SGBudget2015 e Business Times udget_15 #SGBudget2015
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      32 17 OUR FAVE SPOTS Indianswhohavemade Singapore theirhomesharetheplacesthey lovetogotoeatandhangout Local kathakali troupe is the only one outside India GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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  • Page 19 Advertisements
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      624 19 THE MONETARY AUTHORITY OF SINGAPORE APPLICATION FOR TAXABLE BOOK-ENTRY SINGAPORE GOVERNMENT BONDS Tenor Approximately 30 Years Total Amount Offered SGD 1,800,000,000 Minimum Denomination SGD 1,000 MAS' Intended Tender Amount2 SGD 200,000,000 Issue Code NA*****N (Reopened) ISIN Code SG********** Issue Date/Settlement Date 02 March 2015 Maturity Date1 01 April 2042 Coupon
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  • OPINION
    • Article
      Lock icon Australia should do more to raise revenue instead of cutting expenditure
      568 20 EDITORIAL THE Australian prime minister’s “near death” experience (in his own words), when his leadership of his party was under threat, seems to have concentrated his mind about the ailing economy. Tony Abbott’s next Budget, due in May, could
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      Lock icon Calling for less destruction and more creation
      809 20  -  THE BOTTOM LINE By Robert Samuelson WP Washington WE are not getting our money’s worth from “creative destruction”. For history buffs, the phrase will be familiar. Coined by Joseph Schumpeter (1883-1950) –one of the 20th century’s towering economists it defines a central characteristic
      WP  -  809 words
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      Lock icon Chinese investors’ appetite for Europe growing
      1011 20 China’s investment in the European Union nearly tripled in 2014 as the country changes its focus from increasing exports to promoting domestic market growth. BY CHANG TOU CHEN T The writer is MD and head of banking, Southeast Asia, at HSBC CHINA’S switch from
      PHOTO: AFP  -  1,011 words
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      Lock icon Japan, the sleeping partner of foreign aid awakens
      933 21  -  COMMENTARY By Anthony Rowley Tokyo DURING much of the postwar period Japan has been a kind of “sleeping partner” on the foreign aid scene, providing liberal amounts of money, but not having a very active role in deciding how or where that
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      Lock icon White House summit to focus on threat of foreign jihadis
      976 21  -  COMMENTARY By Andrew Hammond T The writer is an associate at LSE IDEAS at the London School of Economics, and a former UK government special adviser London US President Barack Obama will host on Wednesday a global Summit on Countering
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      Lock icon R&D tax regime should include broader range of projects
      947 21 To allow claims only when the projects are “revolutionary” breakthroughs is to set too high a bar for firms that are still new in their innovation endeavour. BY TAY HONG BENG AND CHIU WU HONG SINGAPORE BUDGET 2015 T The writers
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    1005 22 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville Hyundai Bridge 300E 18 Feb 17 Mar 05 Apr 09 Apr 10 Apr 11 Apr 15 Apr 16 Apr 19 Apr 20 Apr 26
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      199 22 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced shf 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 Mr. Johnny Quek Managing Director
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  • LIFE & CULTURE
    • Article
      Lock icon Korean F1 ambitions crash but hope may be around the bend
      590 23 NYT Yeongam, South Korea EIGHT years ago, the South Korean province of South Jeolla, which includes this sleepy coastal county, cleared 1,000 acres of rice paddies and embarked on a US$375 million experiment: building a Formula One racetrack. In
      NYT  -  590 words
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      Lock icon Violence taints Brazil’s carnivals
      548 23 At least two people have been killed and several injured across the country amid the festivities AFP Rio De Janeiro TENS of thousands of people flooded Rio’s streets on Sunday to watch samba dancers in dazzling costumes defy downpours and bare sparkly flesh in a fantasy
      AFP; PHOTOS: AFP  -  548 words
    • Article, Illustration
      Lock icon Victoria Beckham to expand fashion line to Asia
      469 23 AFP New York CHEERED by her famous family, Victoria Beckham brought a sexy vision of fall/winter to an intimate New York runway show on Sunday, and disclosed plans to open a second store in Asia. The one-time pop star, mother of four
      AFP; PHOTO: AFP  -  469 words
    • Article, Illustration
      Lock icon Year of sheep? Or goat?
      662 23 AFP Beijing THE coming Chinese new year has stirred a debate over which zodiac creature is the correct one for the year the sheep or the goat but folklorists dismiss the fixation on animals as missing the point. With traditional astrology in China attaches different
      AFP; PHOTO: AFP  -  662 words
  • Page 23 Miscellaneous
    • Miscellaneous
      Lock icon Page 23 Miscellaneous Column 1
      315 23 CRYPTIC CROSSWORD Across 1 How chess is played in general (6,3,5) 10 Nasa’s speciality quickly harbours love (9) 11 Arab having second German car (5) 12 Central European archdeacon tucking into black berry (7) 13 Some leave when one’s not at one’s best? (3-3) 15 Sports administrators note celebrity (4)
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  • SME
    • Article, Illustration
      Lock icon Make crowdfunding tax-friendly for startups
      932 24 This would widen funding options, which are a critical part of a vibrant entrepreneurship ecosystem. BY CHAI WAI FOOK and ANG SAU TZE The writers are Chai wai Fook, partner, Tax Services, and Ang Sau Tze, associate director, Tax Services, at EY in Singapore. The
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    • Article
      Lock icon Busting patent myths for startups
      1034 24 COMMENTARY The writer is founder CEO of Acronis By Serguei Beloussov AS the number of patent infringement suits soars, the debate about patents stifling development of ecosystem and companies heats up. But patents still benefit inventors at large, making their know-how more valuable. Patents are
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      224 24 BUSINESS EXCELLENCE AWARDS WINNERS SHARING CONFERENCE 10 March 2015, 9.00am 5.30pm Resorts World Sentosa, West Ballroom 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
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