The Business Times, 23 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 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G C ©BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 Monday, February 23,2015
    24 words
  • DAILY DIGEST
    • Article
      Lock icon Valeant Pharmaceuticals International Inc
      35 1 has agreed to buy Salix Pharmaceuticals Ltd for about US$10.1 billion, a person with knowledge of the matter said, to add gastrointestinal drugs to its stable of offerings. COMPANIES MARKETS 10
      35 words
    • Article
      Lock icon Consumer discretionary
      27 1 consumer staples and telcos have the best prospects among European stocks as profit margins recover in that part of the world.BT-CITIBANK YOUNG INVESTORS’ FORUM 14
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    • Article
      Lock icon New rules
      20 1 intended to make European banks stronger may end up encouraging them to get bigger, too. BANKING FINANCE 15
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    • Article, Illustration
      Lock icon On a fenced plot
      41 1 not far from Indian PM Narendra Modi’s home, a field of mustard is in full yellow bloom, representing his government’s reversal of an effective ban on field trials of genetically modified (GM) food crops. ENERGY COMMODITIES 16
      41 words
    • Article
      Lock icon Last May, Uber Technologies
      34 1 said the median income for UberX drivers was over US$74,000 a year in San Francisco. That figure attracted a lot of attention, although it turned out to be unsustainable. TECHNOLOGY/17
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    • Article
      Lock icon Should the Nasdaq
      23 1 set a new record soon, as many expect, its catalyst won’t be irrational exuberance, fund managers and analysts say. TECHNOLOGY/18
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    • Article
      Lock icon US consumers
      38 1 are shifting away from weightmanagement foods, forcing companies ranging from Kellogg Co to Nestle SA to change ingredients and focus their marketing on different health benefits as sales slip. CONSUMER/19 Dining Out will return next Monday.
      38 words
  • Article
    Lock icon Jubilee Budget to tackle future challenges
    1148 1  -  SkillsFuture, retirement adequacy are key priorities, even as restructuring pains plague the present BUDGET 2015 By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore EVEN as productivity withers and business costs swell keeping the focus of many on the here and now the main thrust of Budget
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  • Article, Illustration
    Lock icon Tough job for Petronas new boss
    770 1  -  By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore SOMETIME in the middle of last year, Shamsul Azhar Abbas, the boss of Malaysia’s oil giant Petroliam Nasional Bhd (Petronas), publicly expounded the virtues of meritocracy and belaboured the point that the country’s oil resources belonged to all
    PHOTO: BLOOMBERG  -  770 words
  • Article
    Lock icon MARKETS
    25 1 Weekly Change STI 3,435.66 +9.44 KL Comp 1,807.87 +6.92 Nikkei 225 18,332.30 +418.94 Hang Seng 24,832.08 +149.54 Shenzhen B 1,102.07 +2.15 Dow 18,140.44 +121.09
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  • Page 1 Advertisements
    • Advertisement
      Lock icon Page 1 Advertisements Column 1
      123 1 Hill 8 '*****1 *****4 YEAR OF THE GOAT It’s looking good for the sure-footed VIEWS FROM THE TOP 12-13 TOPLINE SECONDARY OFFICE SPACE Surge likely as tenants relocate to newer premises REAL ESTATE /11 Tat Hong restructures for the next lap WALL STREET INSIGHT US market could see big gains
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  • TOP STORIES
    • Article, Illustration
      Lock icon What Budget 2015 may bring
      801 2 Budget 2015 is expected to be one for the history books Singapore is celebrating its 50th year of independence, an election is believed to be imminent, and the economy continues to grapple with restructuring pains and low productivity. Ahead of Monday’s Budget Statement which will
      BT Graphics: Kelly Tay, Gareth Chung, Hyrie Rahmat  -  801 words
    • Article, Illustration
      Lock icon Snapshot of the Singapore economy
      780 2  -  The Singapore government’s Budget statement for FY2015 will be delivered against a backdrop of slower growth and unusually low inflation. Domestic pressures low productivity and a tight labour market will continue to weigh on the economy, even as external risks persist. Here is a snapshot
      Sources: Department of Statistics, Ministry of Trade and Industry, Ministry of Manpower, Monetary Authority of Singapore, Bloomberg. BT Graphics: Hyrie Rahmat  -  780 words
    • Article, Illustration
      Lock icon US stock market could see big gains in 2015
      972 4  -  The S&P 500 has registered rises far above its average annual return of 7% in last three Chinese years of the goat WALL STREET INSIGHT By Rob Curran btworld@sph.com.sg SOME strategists had predicted a bear market this year, but, on the
      PHOTO: BLOOMBERG  -  972 words
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  • Page 4 Advertisements
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      64 words
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      Lock icon Page 4 Advertisements Column 2
      10 4 BUDGET 2015 Follow The Business Times’ coverage at btd.sg/budget_15 #SGBudget2015
      10 words
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Restructuring for the next lap
      998 5  -  Amid a slowdown, Tat Hong is focusing on shedding fat.BY TTTOPLINE fat.BY CAI HAOXIANG haoxiang@sph.com.sg @HaoxiangCaiBT THERE is a sense of freshness inside crane supplier Tat Hong Holdings’ new corporate offices in the Edward Boustead Centre along Ubi Avenue 4, which it moved into last
      PHOTO: ARTHUR LEE  -  998 words
    • Article, Illustration
      Lock icon Tat Hong’s third-gen strikes out
      240 5  -  By Cai Haoxiang WITH the first and second generation having built up one of Asia’s biggest crane businesses, the third generation of the Tat Hong family is now expanding into new ventures. Andrew Ng, the second son of Tat Hong CEO Roland Ng, is running
      PHOTO: ARTHUR LEE  -  240 words
    • Article
      Lock icon Buying increases, selling remains low
      1750 6  -  INSIDE MARKETS By Robert Halili T The writer is managing director, Asia insider Limited THE buying rose while the selling remained low based on filings on the Singapore Exchange (SGX) during the holi-day-shortened week of Feb 16 to 18. A total of nine companies recorded
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    • Article
      Lock icon DB Platinum
      9 6 Crod Branchen Stars R1C-A 12/02/2015 235,58 EUR
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    • Article, Illustration
      Lock icon Time to answer questions about pay of directors
      882 6  -  Companies need to recognise that the “new normal” of governance requires full disclosure. BY WONG SU-YEN T The writer is a member of the Governing Council of the Singapore institute of Directors Probing how much individual professionals earn is usually not kosher.
      882 words
    • Article, Illustration
      Lock icon STI / Catalist
      64 8 STI Catalist WEEKLY Straits Times Index Feb 18,2015 3,435.66 +9.44 (+0.28%) Current streak 1 day Week high 3,435.66 Week low 3,415.91 52-week high 3,435.66 (Feb 18, 2015) 52-week low 3,073.40 (Mar 21, 2014) FTSE ST Catalist index Feb 18,2015 716.44 -1.96 (-0.27%) Current streak 1 day Week high 716.44 Week
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    • Article, Illustration
      Lock icon Eyes on Yellen’s testimony on state of US economy
      640 8  -  STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT NOW that Greece’s problems have been pushed four months down the road, the market’s attention will this week turn to US interest rates. Specifically, Tuesday and Wednesday when US Federal Reserve chair Janet Yellen will
      640 words
    • Article
      Lock icon GAINERS
      74 8 BY CENTS CLOSE UP 52w high/low Lyxor ThaiSET US$ ***** 991.4 5.4 *****/***** SPDR S&P500 US$ ***** 401.4 1.4 *****/***** Lyxor AsiaIT US$ 3917 336.3 6.8 3993/3381 DBXT MSEurope US$ 5864 238.7 3.1 6492/5366 DBXT E50 US$ 4969 184.4 2.8 5630/4562 BY PERCENTAGE CLOSE UP 52w high/low Lereno Bio-Chem
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    • Article
      Lock icon LOSERS
      79 8 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -252.3 -1.6 *****/***** Great Easter 2488 -97.0 -3.8 2600/1770 Hyflux 6% CPS ***** -60.0 -0.6 *****/***** UOB 2297 -60.0 -2.5 2472/1980 United Engineers 277 -40.0 -12.6 330/175 BY PERCENTAGE CLOSE DOWN 52w high/low UOB MB eCW*****2 1.2 -76.5 -3.9 21/1.2
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    • Article
      Lock icon UNUSUAL ACTIVITY
      87 8 VOL CLOSE($) CHANGE Junma Tyre Cord 54.8 0.075 -0.009 -10.71 SP Corp 682.4 0.081 -0.010 -10.99 ISR Capital 286.1 0.029 +0.004 +16.00 PterisGlobal 291.3 0.670 +0.040 +6.35 Challenger 72.5 0.495 +0.035 +7.61 Serial System 1,610.5 0.143 +0.004 +2.88 Pan Hong Prop 170.0 0.114 +0.006 +5.56 Hock Lian Seng
      87 words
    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      36 8 STI FTSE ST All-Share WEEKLY FTSE ST All-Share index Feb 18,2015 824.27 +1.64 (+0.20%) Current streak 1 day Week high 824.27 Week low 819.87 52-week high 825.05 (Feb 6, 2015) 52-week low 748.83 (Mar 21, 2014)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      34 8 STI MSCI EAFE WEEKLY MSCI EAFE index Feb 20,2015 1,866.73 +27.38 (+1.49%) Current streak 3 days Week high 1,866.73 Week low 1,841.54 52-week high 1,993.20 (July 4, 2014) 52-week low 1,729.52 (Jan 9, 2015)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 9 2 0 0 0 5 9 2 Manufacturing 43 59 42 8 13 13 51 72 55 Commerce 26 22 18 6 5 4 32 27 22 Tpt/Stor/Comms 14 20 6
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 76,228 76,228 244,512 244,512 Manufacturing 343,288 79,292 422,580 193,167 6,220 199,387 Commerce 265,500 68,906 334,406 273,413 3,294 276,707 Tpt/Stor/Comms 312,591 532 313,123 610,636 156 610,792 Finance 59,036 22 59,058 477,149 5 477,154 Construction 68,354 36,433
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    • Article
      Lock icon Oil and metal prices drift lower
      822 8 COMMODITIES London CRUDE oil and metal prices drifted lower last week as markets took their cue from supply and demand patterns as well as uncertainty over Greece’s eurozone future. Eurogroup head Jeroen Dijsselbloem was working overtime on Friday to save a make-or-break meeting on
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    • Article
      Lock icon STI STOCKS
      313 8 Stock name Close Change Wk high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 246 +6 246/235 263 213 5.8 6219.7 CapitaLand 368 +8 368/357 368 268 18.4 2.2 *****.2 CapitaMall Trust 215 +4 215/208 226 183 5 7458.4 CityDev 1028 cd -2 1041/1021 1118 907
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    • Article
      Lock icon MOST ACTIVE
      35 8 VOLUME IHC 177,357,400 Noble 167,887,600 SingTel 66,462,900 APAC Strategic 59,034,800 HPH Trust USD 58,604,800 Market volume 2,736,819,000 VALUE SingTel 283,360,447 UOB 184,863,897 Noble 181,768,889 DBS Grp 152,781,315 United Engineers 113,990,521 Market value 2,747,623,000
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    • Article
      Lock icon SGX ETFs
      111 8 Most Active Fund Last sale +/-(‘000) Wk high/low 52w high/low Buy/Sell Mcap IS MS India US$ US802 -1 448 810/796 1000/575 802/806 100.3 STI ETF 344 +1 293 345/341 349/305 343/344 DBXT MSPHILS US$ US222.2 +1.1 252 224.7/221.7 224.7/175.3 223.6/224.3 17.8 ABF SG Bond ETF 115.5 -0.5 156
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    • Article
      Lock icon COMPANY MEETINGS
      124 8 COMPANY MEETING PLACE DATE TIME China flexible Pkg A Re!Joice 2 Ballroom Hotel Re (Ground flr) 175A Chin Swee Road 24-Feb 9.30am Stratech Systems E Function Room 1 31 Intl Business Park Creative Resource Lvl 1 (Main Lobby) 25-Feb 4.00pm Ecowise Hldgs A 17 Kallang Junction #04-03 27-Feb
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Feb 18 VALUE CLOSE BT OB/OS -354.00 +87.00 BT CADI -*****.00 +92.00 BT 10-day MA -*****.00 -36.00 FTSE ST Mid Cap 783.12 +3.58 FTSE ST Small Cap 493.06 +1.06 FTSE ST All Share 824.27 +4.40 FTSE ST China Top 192.12 +0.36 FTSE ST China 235.47 +0.94 FTSE
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    • Article
      Lock icon Euro fluctuates as Greece still has hurdles to clear
      495 9 CURRENCIES BLOOMBERG New York THE euro swung between gains and losses after finance ministers reached an accord that would keep bailout funds flowing to Greece in return for a commitment by that nation to meet certain economic reform conditions. The shared
      BLOOMBERG  -  495 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Feb 18 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.970 4.889 0.686 6.062 48.671 100.390 0.932 8.685 2.810 1.037 79.347 34.541 1.062 9.135 0.731 24.724 25.455 0.509 0.782 Canada 1.031 5.041
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 9 Feb 18 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0617 1.0626 0.7815 0.7816 Canadian dollar 1.0947 1.0958 0.8061 0.8058 Euro 1.5480 1.5493 1.1395 1.1396 NZ dollar 1.0234 1.0244 0.7533 0.7535 Sterling pound 2.0849 2.0872 1.5347 1.5353
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Feb 18 S$ Bid Offer 1-month 1.3591 1.3604 2-months 1.3597 1.3610 3-months 1.3607 1.3619 6-months 1.3623 1.3636 Source: OCBC
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      • Article, Illustration
        Lock icon HANG SENG
        3 9 WEEKLY
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      • Article, Illustration
        Lock icon NIKKEI
        2 9 WEEKLY
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        3 9 COMPOSITEWEEKLY
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      • Article, Illustration
        Lock icon DOW JONES
        3 9 WEEKLY
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        332 9 Feb 20 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.50 *****.92 *****.67 Mar15 *****.00 *****.00 *****.00 *****.00 ***** *****8 Jun15 *****.00 *****.00 *****.00 *****.00 180 6941 MSCI TAIWAN INDEX FUTURES SPOT 352.70 354.47 352.70 Feb15 0 ***** Mar15 0 *****1 CNX NIFTY INDEX
        332 words
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        209 9 Feb 18 Most active Prem Expiry Wk Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 3.8 -0.2 9002 1 18 20 DBS MB eCW*****0 11.8 0.9 6848 0.2 1980 2 Noble Group MB eCW*****3 4.9 -1 4540 0.4
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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 20 Index Change Change Change Change Change Change World Preliminary 1328.5 0.0 4.1 0.0 5.6 0.0 3.0 EAFE Preliminary 1060.9 0.2 7.5 0.2 7.9 0.2 5.2 Europe Preliminary 1493.4 0.2 8.1
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    • BANK RATES
      • Article
        Lock icon SIBOR
        36 9 Feb 18 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) 1 mth 0.***** 3 mths 0.***** 6 mths 0.***** Source: Thomson Reuters
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      • Article
        Lock icon INTERBANK RATES
        154 9 Feb 18 $S Offer Bid 0vernight 0.25 0.02 1-month 0.625 0.50 2-months 0.625 0.50 3-months 0.6875 0.5625 Overnight mode: 0.65 US$ Offer Bid 7 days 0.17 0.07 1 month 0.23 0.13 2 months 0.28 0.18 3 months 0.40 0.20 6 months 0.50 0.30 9 months 0.60 0.40 12
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      • Article
        Lock icon GOVERNMENT SECURITIES
        69 9 Feb 18 Feb 18 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.97 103.06 103.00 5-Year N*****0H 1.625 01-Oct-19 99.82 99.90 99.90 10-Year NY*****H 3.000 01-Sep-24 105.63 106.05 105.74 15-Year NY*****E 2.875 01-Jul-29 102.11 102.60 102.28 20-Year NZ*****V 3.375
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 9 Feb-20 Price Net change change Last Trade Agricultural Feb-20 CBOT Soybeans (US cents/bu) 999.25 -8.00 -0.79% 13/03/2015 CBOT Soybean Oil (US cents/lb) 31.48 -0.35 -1.10% 13/03/2015 CBOT Wheat (US cents/bu) 510.25 -17.50 -3.32% 13/03/2014 Feb-20 LIFFE Cocoa (£/tonne) 2038.00 13.00 0.64% 16/03/2015 LIFFE Coffee (US$/tonne) 1942.00 -15.00 -0.77%
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    • Article, Illustration
      Lock icon Purchase of Salix adds gastrointestinal drugs to Valeant stable
      466 10 Valeant will pay US$158 a share in cash for Salix in US$10.1 billion acquisition BLOOMBERG New York VALEANT Pharmaceuticals International Inc agreed to buy Salix Pharmaceuticals Ltd for about US$10.1 billion, a person with knowledge of the matter said, to add
      BLOOMBERG; PHOTO: BLOOMBERG  -  466 words
    • Article
      Lock icon PRIME LENDING RATES
      272 10 Feb 18 BANKS Agricultural Bank Of China 5.50 Agricultural Bank Of China Bangkok Bank Public Co. Ltd 6.00 ANZ Singapore Bank of Communications Bangkok Bank Public Co. Ltd 6.00 Bank of China Limited 5.50 Bank of Tokyo-Mitsubishi 5.50 Banque Internationale a 5.75 Barclays Bank PLC 5.50 Bank
      272 words
    • Article
      Lock icon DIVIDENDS ANNOUNCED
      1548 10 Payment Ex Rec Pay Ann (cts) date date date date AIMS Property (1 Sep-31 Dec 2014) ag 0.132 29-Dec 31-Dec 13-Mar 22-Dec AIMS AMP Cap Ind Reit (1 Oct-31 Dec 2014) ct 2.830 04-Feb 06-Feb 26-Mar 29-Jan Amtek Engg aw 1.300 24-Feb 26-Feb 13-Mar 16-Feb ARA Asset Mgmt
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    • Article
      Lock icon Egyptian govt may launch IPO of Food Industries
      255 10 REUTERS Cairo EGYPT is considering listing the state-owned Food Industries Holding Company (FIHC) in a rare initial public offering (IPO) of shares in a government holding company, Supplies Minister Khaled Hanafi told Reuters on Sunday. The IPO could raise between three and
      REUTERS  -  255 words
    • Article
      Lock icon BROKERS’ RECOMMENDATIONS
      1591 10 Source: Thomson Reuters Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price AIMS AMP Capital Industrial REIT 1.50 2.00 2 9.85 14.72 1.66 1.45 Amtek Engineering Ltd 2.00 3.00 2 0.06 8.47 0.77 0.68 ARA Asset
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      Lock icon Page 5 Advertisements Column 1
      123 5 AccountStaff® A Stone Forest Company Globally Connected RSM International PERMANENT PLACEMENT EXECUTIVE SEARCH Finance Accounting Specialisation Partnering mri* Your Manpower* Needs www.AccountStaff.com.sg info@accountstaff.com.sg T+65 6594 7946 cf&i Z* t 'S a m rr. as %mi s B 5S 32S ai 34 m G 1 9 N ssr pMS :1( K
      123 words
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  • Page 6 Advertisements
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      Lock icon Page 6 Advertisements Column 1
      201 6 Budget 2015 Solving tomorrow’s problems today How will this year’s Budget impact you and your business? Join us at our annual seminar where we will share our perspectives on the Budget and explain its implications for individuals and businesses. Our tax specialists from the U.S. and the Netherlands will discuss
      201 words
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      Lock icon Page 6 Advertisements Column 2
      105 6 .ASTANA ALMATY •w Seoul Beijing iN Bangkok' Kuala Lumpur* Hong Kong Ho Chi Minh Beijing Almaty ■4 1 5 times a week Beijing Astana 2 times a week Kuala Lumpur Almaty 3 times a week Seoul Almaty 3 times a week Bangkok Almaty 7 times a week Hong Kong Almaty
      105 words
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
      1884 7 Far Eastern Bank Limited (Incorporated in the Republic of Singapore) and its Subsidiary FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2014 IMPORTANT Company Registration No. *****0116D The following financial information contains only a summary of the information in the financial statements of the Bank and the Group for
      1,884 words
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Surge in secondary office space seen as tenants relocate
      931 11  -  But increase in secondary space unlikely to add to vacancy rate as demand is healthy, say analysts By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore THE stock of secondary office space here is set to increase as newly completed office projects trigger bouts
      Source: Cushman & Wakefield Research  -  931 words
    • Article
      Lock icon New York hotel glut leading to slowdown in room-rate hikes
      792 11 BLOOMBERG Los Angeles THE city that never sleeps may have too many hotel rooms. A surge in New York hotel construction, leading to a 21 per cent increase in the city’s room count in the past five years, is tamping
      BLOOMBERG  -  792 words
    • Article
      Lock icon Plan to help Croatians with Swiss franc mortgages
      321 11 REUTERS Zagreb CROATIANS with Swiss franc mortgages they can no longer afford may be obliged to transfer their properties to the state under a proposal from the country’s banking association. The banks, the finance ministry and the central bank will meet next
      REUTERS  -  321 words
  • Page 11 Advertisements
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      Lock icon Page 11 Advertisements Column 1
      337 11 MOORE STEPHENS LLP CHARTERED ACCOUNTANTS OF SINGAPORE Moore Stephens Singapore Budget 2015 Seminar The Singapore FY2015 Budget Statement will be delivered by the Deputy Prime Minister and Minister for Finance, Tharman Shanmugaratnam on 23 February 2015. What are the major highlights of the Budget 2015 and how will the new
      337 words
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  • VIEWS FROM THE TOP
    • Article, Illustration
      Lock icon A GOOD YEAR FOR THE SURE-FOOTED
      6490 12 THIS WEEK’S TOPIC What’s the outlook for your industry in the Year of the Goat? What goals have you set for your business? Jarek ziebinski CEO and Chairman Leo Burnett Asia-Pacific THE evolvement of marketing today as a result of the digital media revolution
      PHOTO: FREEIMAGES  -  6,490 words
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  • BT-CITIBANK YOUNG INVESTORS’ FORUM
    • Article, Illustration
      Lock icon Looking for upside in Europe
      1622 14  -  Consumer discretionary, consumer staples and telcos have the best prospects as profit margins recover in that part of the world By Gilles Guibout, Maxime Alimi, Mathieu L’Hoir The writers are from AXA Investment Managers AT 4 PER CENT, profit margins in the euro area are
      PHOTO: REUTERS  -  1,622 words
    • Article, Illustration
      Lock icon Dividend growth will underpin US equity outlook
      856 14  -  By Dominic Rossi The writer is Fidelity’s global chief investment officer, equities IN today’s age of income investing, the income growth properties of the US equity market are particularly compelling. Sustained dividend growth should continue to support US stock market performance, and I
      PHOTO: AFP  -  856 words
  • Page 14 Advertisements
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      Lock icon Page 14 Advertisements Column 1
      113 14 GET STARTED NOW Be a young investor Do you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to
      113 words
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  • BANKING & FINANCE
    • Article
      Lock icon Euro area banks eye mergers as new rules close in
      1043 15 Consolidation starting to look attractive as profits decline and regulatory requirements raise the bar BLOOMBERG Frankfurt NEW rules intended to make European banks stronger may end up encouraging them to get bigger, too. With the European Central Bank now the
      BLOOMBERG  -  1,043 words
    • Article, Illustration
      Lock icon Deutsche Bank, Santander may fail Fed stress tests: report
      323 15 BLOOMBERG New York DEUTSCHE Bank AG and Banco Santander SA are among European banks that probably will fail Federal Reserve stress tests of their US operations this year because they’re not good enough at measuring their risks, the Wall Street Journal
      BLOOMBERG; PHOTOS: REUTERS, BLOOMBERG  -  323 words
    • Article
      Lock icon High-frequency trader Virtu Financial files for IPO again
      655 15 REUTERS BLOOMBERG New York VIRTU Financial Inc, a trading firm whose plans to go public were postponed last year amid the furore over high-frequency trading, has filed a new prospectus for an IPO, a US regulatory filing showed. Virtu Financial said on
      REUTERS; BLOOMBERG  -  655 words
    • Article
      Lock icon Former Barclays brokers win case to keep US$4m in signing bonus
      342 15 REUTERS New York TWO former Barclays stockbrokers can keep nearly US$4 million in signing bonuses, an arbitration panel has ruled, handing down a rare rebuke of a controversial recruiting practice common among brokerage firms. Barclays had tried to claw
      REUTERS  -  342 words
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      913 15 The Business Times NOTICES Toll free 1800-289-8822 Email nolices@sph.com.sg www.sphclass.com.sg/notices Transfer Of General Insurance Business Of Royal Sun Alliance Insurance plc, Singapore Branch to Allied World Assurance Company, Ltd, Singapore Branch Pursuant to Section 49FC(1 )(b) of the Insurance Act, Chapter 142 of Singapore Royal Sun Alliance Insurance plc, Singapore
      913 words
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      Lock icon Page 15 Advertisements Column 2
      456 15 EFRONT SINGAPORE PTE. LTD. (Company Registration Number UEN: *****2449C) (Incorporated in the Republic of Singapore) (the “Company”) NOTICE NOTICE IS HEREBY GIVEN pursuant to Section 76(10)(h) of the Companies Act, Chapter 50 of Singapore (the “Companies Act”), that at an Extraordinary General Meeting of the Company deemed to have been
      456 words
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Modi bets on GM crops to boost farm output
      845 16 India’s federal govt resumes field trials for selected crops, reversing earlier ban REUTERS New Delhi ON A fenced plot not far from Indian Prime Minister Narendra Modi’s home, a field of mustard is in full yellow bloom, representing his government’s reversal
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      Lock icon US refinery strike widens to include Shell JV
      772 16 REUTERS Houston THE US refinery strike widened on its 20th day, with workers at the nation’s largest refinery walking off jobs and joining picket lines on Saturday as the United Steelworkers union (USW) pushes for a new contract that improves wages and
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      Lock icon Arctic oil drilling firms face tougher US rules to stop spills
      700 16 BLOOMBERG Washington ROYAL Dutch Shell and any oil drilling company that prospects in the Arctic Ocean must boost safety practices to prevent spills in the frigid and often hostile waters or mitigate the impact, US regulators proposed. The Interior
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      Lock icon Potash global price war looms as Belarus muscles in
      858 16 BLOOMBERG MOSCOW THE potash industry, which provides the potassium used to grow bigger fruits and vegetables worldwide, is facing a global price war as Belarus seeks to strengthen its share of the US$20 billion market. The Eastern European country, which supplied
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  • TECHNOLOGY
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      Lock icon The hidden costs of being an Uber driver
      1427 17 These include Uber’s commission, petrol, car maintenance, insurance and taxes, among others WP Washington BE your own boss and leave the drudgery of the 9-to-5, Monday-through-Fri-day work week behind. Those are the dreams of many workers, especially those who have faced flat
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      Lock icon Fight with Uber is a personal one for its German nemesis
      1042 17 WP Berlin BORN into a family of craftsmen in a hardscrabble Bavarian village, Richard Leipold started driving a cab as a college kid in Berlin. He liked it so much that he kept doing it after graduation, and he
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      Lock icon No bubble in sight as Nasdaq nears its 15-year-old peak
      1040 18 Analysts say Fed’s rate policy, incubation of startups before IPO and Apple’s rise underpin rally REUTERS New York AS the technology-heavy Nasdaq Composite Index closes in on the all-time high it reached in March 2000, investors are facing a market
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      Lock icon Internet providers, advocacy groups say proposed US rules are too vague
      535 18 REUTERS Washington AS the US Federal Communications Commission prepares to vote on new rules for high-speed Internet service, one aspect of the rules is drawing criticism from both opponents and proponents of tighter regulation. The FCC, which is set
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      Lock icon Stolen SIM keys are powerful spy tools for US, UK agencies
      776 18 AFP Washington IT would be another powerful tool in the arsenal of US and British spy services: encryption keys for a large share of the SIM cards used for mobile phones. A report by the investigative news website The
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      1137 17 The Business Times NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF VAN DAALEN ASIA PTE. LTD. Company registration no. *****0118C (In Members’ Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50 that
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      45 18 REDEFINING IDEAS 4 printpack+sign Singapore's printing, packaging 8k signage business exhibition |i r u* ,9. M s 29-31 JULY 2015 Marina Bay Sands, Singapore www.PrintPackSign.com Interested to exhibit? Tel: (65) 6848 5938 Email: PrintPackSign@bizlink.com.sg Organised By; BIZLINK Exhibition Services Pte Ltd A SUBSIDIARY OF Sf^l
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  • CONSUMER
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      Lock icon Food companies aim to reinvent diet foods
      645 19 They are grappling with how to market brands such as Lean Cuisine, Healthy Choice and Special K, and come out with new products tailored to changing tastes REUTERS New York US consumers are shifting away from weight-management foods, forcing companies ranging from Kellogg
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      Lock icon American Express card rules violate US antitrust law: judge
      783 19 REUTERS New York AMERICAN Express Co violated US antitrust law by prohibiting merchants from steering consumers to use low-er-cost credit cards, a federal judge ruled last week, in the company’s second major setback in February. The decision by US District Judge
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      Lock icon Would you like some bacon to go with that?
      856 19 WP Washington PIZZA chain Little Caesars last week unveiled a deep-dish pizza wrapped with more than three feet of “decadent” thick-cut bacon. A day earlier, Starbucks debuted its own bacon-y surprise: a 540-calorie double-smoked bacon breakfast sandwich “sure to satisfy any
      WP; ST FILE PHOTO  -  856 words
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      Lock icon Swollen US meat inventories mirror demand headwinds
      274 19 REUTERS Chicago SLUMPING demand for meat on the US West and East Coasts boosted pork, beef and chicken inventories to some of their highest levels in years, analysts said following Friday’s US Department of Agriculture (USDA) monthly cold storage report. Meat processors and
      REUTERS  -  274 words
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      76 19 So?? sit* <x on «DVE ASIA’S LARGEST' Educational Kids’ Fair i Singapore expo 20-22 March 2015 If your business targets families with kids between the age of 0 -12, we have the right platform for you! GUARANTEE? TARGETS? CROW?! Join us at smartKi?s Asia 2015! VCall us to enquire how
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  • GOVERNMENT & ECONOMY
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      Lock icon Global outlook improving but China slowdown among risks: IIF
      842 20  -  Its report flags concern over prospect of further turbulence in financial markets as Fed moves toward tightening rates By Anthony Rowley btworld@sph.com.sg Tokyo GLOBAL economic growth is set to accelerate slowly this year and in 2016 with advanced nations outpacing emerging
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      Lock icon Greece scrambling to compile reforms list
      540 20  -  By Neil Behrmann btworld@sph.com.sg London GREECE’S coalition government has been working frantically to compile a list of economic reforms in return for the four-month extension of the bailout from the European Union (EU), European Central Bank (ECB) and the International Monetary Fund (IMF). If
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      Lock icon Venezuelans face acute shortage of basic necessities amid oil rout
      586 20 AFP Caracas WITH long, everyday waits in line to buy milk or toilet paper, Venezuela’s economic crisis is proving ever more painful, as President Nicolas Maduro’s socialist government struggles with the inflation-wracked, collapsing economy. “This country never was like this.
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      Lock icon Sri Lanka mulls future of ex-leader’s white elephants
      717 20 AFP Hambantota FROM a multi-million dollar airport ignored by airlines to a lavish cricket stadium rejected by players, Sri Lanka’s new government is mulling the future of a string of white elephants. Former president Mahinda Rajapakse ordered the state-of-the-art facilities built in
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    • Article
      Lock icon The problem with productivity and how to parse it out
      1054 21 Productivity, so crucial as a measure of economic growth, is unfortunately hard to track and forecast BLOOMBERG Washington PRODUCTIVITY is probably the most important measure of economic health that policy makers know the least about. Its pace will help determine
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      Lock icon Outgoing Fed official warns of danger of verbal mishaps
      620 21 REUTERS Philadelphia VERBAL missteps by the US Federal Reserve have increased the risk of a volatile market reaction when the time comes to raise interest rates, the outgoing president of the Philadelphia Fed said. A week before stepping down from the
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      Lock icon EU court to rule on ECB challenge to UK clearing
      376 21 REUTERS London THE European Union’s (EU) top court rules next month on a battle between the European Central Bank (ECB) and Britain whose outcome could reduce London’s role as the bloc’s top financial centre, lawyers said. The ECB says clearing
      REUTERS  -  376 words
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      Lock icon Japan January inflation seen easing; factory output to rise
      564 21 REUTERS Tokyo JAPAN’S core inflation is seen slowing for a sixth month in January while factory output is expected to rise, underlining the policy challenge facing the Bank of Japan (BOJ) as it strives to speed up economic growth and achieve
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      243 20 Spencer Li Founder Head Trainer Synapse Trading Pte Ltd Mostpeopleentertheworldoftradingwiththeknowledgeacquiredfrom books and websites. However, they do not realize that this knowledge differs greatly from reality. This is because professionals use the same trading tools in a different way, thus allowing them to achieve superior results. To achieve similar results, you
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      34 20 The Plah with Shan& Cheryl WEEKDAYS 4:00PM 8:00PM A V IB I K k1 Tune in 1 NOW! 1 i /i i facebooK.com/onefmsg @onefmsg www.onefm.sg Download on the GET IT N AppStore Google play
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    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    1911 23 MONTREAL 10 120 29/7 30/7 4/8 MONTREAL 10 120 29/7 30/7 4/8 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) SIN PKL KUC KK JKT SUR SEA CORAL 67 60 3/3 5/3 8/3 OCEAN SEAGULL 42 60 6/3 7/3
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      110 23 Experienced sh;p maintenance services wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 SHIPPING TIMES Managing Director FOONGSUN SHIPPING (PTE) LTD Mr. Shigeki Kurimi Managing Director FUJITRANS (ASIA) PTE.LTD. Mr. Kosuke Matsumoto Managing Director TOKO LINE (SINGAPORE) PTE., LTD. .the
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  • LIFE & CULTURE
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      Lock icon More women at the helm in Princeton
      966 24 They are in charge at four of the university’s 11 eating clubs, the highest total since 2002 and three more than last year NYT Princeton, New Jersey PRINCETON University’s eating clubs are where most of its upperclassmen go for dinner every night, as
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      Lock icon TAKING HEART
      407 24  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT M1 launches fund to support students A total of 10 primary schools will be able to tap the freshly minted M1 Students Support Fund, which was launched by the telco to provide supplementary support to students from low-income families. The M1 Students Support
      PHOTO: OCBC BANK  -  407 words
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      Lock icon CapitaLand engages community with new campaign
      460 24  -  By Prisca Ang prisang@sph.com.sg CAPITALAND has launched a new brand campaign entitled “A Stage for Life”, which will be an extension of its existing credo “Building People. Building Communities”. The new campaign, with its tag line, “You construct the moments. We build the stage”,
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      Lock icon UOB marks SG50 with painting
      209 24 UOB GROUP deputy chairman and chief executive Wee Ee Cheong and two-time winner of the UOB Painting of the Year competition, artist Gong Yao Ming, have put ink to paper to commemorate SG50, with the resulting painting to be revealed at an auction at the
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  • Page 24 Miscellaneous
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      318 24 CRYPTIC CROSSWORD Across 1 Tempo has changed penning Queen air (10) 6 Powder stock regularly contains aluminium (4) 9 Church in Dublin accommodates believer (5) 10 Little doubt? (9) 12 More healthy attached to popular medical device (7) 13 Arouse first woman to admit approval (5) 15 Administrators of Forest
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