The Business Times, 5 March 2015

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Microfilm: NL33430
Total Pages: 26
1 26 The Business Times
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  • Title Section
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    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 Thursday, March 5,2015
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  • DAILY DIGEST
  • Article
    Lock icon MARKETS
    27 1 Wednesday Change STI 3,415.53 -6.58 KL COMP 1,825.54 +4.29 NIKKEI 225 18,703.60 -111.56 HANG SENG 24,465.38 -237.40 SHENZHEN B 1,110.37 +2.91 DOW (11am EST) 18,061.45 -141.92
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  • Article, Illustration
    Lock icon Luxury homes hardest hit but price dip could moderate this year
    1108 1  -  Analysts see buying interest recovering and expect “innovative sales schemes” rather than price slashing, with better value proposition perceived By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore NO matter how Singapore’s private residential sales data is diced, it would still show
    Source: CBRE Research, Feb 2015  -  1,108 words
  • Article, Illustration
    Lock icon Grow economy, revenue to balance future budgets: Swee Say
    788 1  -  BUDGET DEBATE By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore INSTEAD of having to balance future budgets by cutting back on spending, labour chief Lim Swee Say recommends growing the economy and revenue. And whether Singapore is successful in doing this will depend
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      161 1 Hill 8 '*****1 *****4 PROPERTY AUCTIONS Mortgagee sales lift number of auction properties in Jan-Feb REAL ESTATE /12 GOVERNMENT ECONOMY 21 IWC PORTUGUESE. ENGINEERED FOR NAVIGATORS Portuguese Perpetual Calendar. Ref. 5023: One thing at IWC always remains the same: the desire to get even better. Here is one of the
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      22 1 HOCK LOCK SIEW Genting Singapore’s tough bet COMPANIES MARKETS 7 Private banking Asia’s trillion-dollar industry grows at slower pace top stories 4
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      8 1 DIPLOMATIC CRISIS Are Americanisraeli ties cooling? OPINION 22
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  • TOP STORIES
    • Article
      Lock icon Enduring solution to rising business costs needed: Inderjit
      549 2  -  He calls for Cost Competitiveness Committee to study issue while also pushing for national minimum wage BUDGET DEBATE By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore THE government needs to find a permanent solution to rising business costs, instead of allocating large amounts of
      549 words
    • Article, Illustration
      Lock icon Moving left? Let’s set the context right
      696 2  -  COMMENTARY By Kelly Tay kellytay@sph.com.sg @KellyTayBT YOU’D think everyone were a Beyoncé fan, the way lawmakers have been saying “to the left, to the left” in Parliament. One speaker Alex Yam of Chua Chu Kang GRC even spoke-sang the song in his speech
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    • Article, Illustration
      Lock icon India central bank lowers key policy repo rate by 25 bps to 7.5%
      707 2 REUTERS Mumbai INDIAN government bonds surged to their highest in nearly 20 months, while the rupee jumped to a one-month high on Wednesday after the central bank lowered interest rates, in a move that came earlier than
      REUTERS; PHOTO: REUTERS  -  707 words
    • Article
      Lock icon Key Eurozone statistics
      74 2 10-YEAR BOND YIELD IN CRISIS CURRENT 10-YEAR BOND YIELD GDP INFLATION GOVT DEBT TO GDP UNEMPLOYMENT RATE Germany 3.53 0.35 1.6 0.9 4.7 77 France 3.74 0.57 0.2 -0.4 10.4 92 Italy 7.10 1.33 -0.3 -0.2 12.6 133 Spain 7 .70 1.33 2.0 -1.1 23.7 92 Portugal
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    • Article
      Lock icon Weak currency, low rates and energy prices spur stilted eurozone recovery
      671 2  -  But economists fear a sudden yield lurch and concurrent fall in bond prices could cause a slide in equities By Neil Behrmann btworld@sph.com.sg London London EURO depreciation, ultra-low interest rates and a decline in energy costs have enabled stressed
      671 words
    • Article
      Lock icon Car COE premiums bounce back on replacement demand
      401 4  -  By Samuel Ee samuelee@sph.com.sg Singapore SMALL and big-car certificate of entitlement (COE) premiums bounced back on strong demand from replacement buyers who converged on showrooms in the past week after the Chinese New Year holiday. Category A (for cars below 1,600cc and
      401 words
    • Article
      Lock icon Growth moderating
      281 4 Asia AUM (US$ billion) RANK PRIVATE BANK 2014 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 UBS Wealth Management Citi Private Bank Credit Suisse Private Banking HSBC Private Bank Deutsche Asset Wealth Management J.P. Morgan Private
      281 words
    • Article
      Lock icon Asia’s trillion-dollar private bank industry grows at slower pace
      599 4  -  AUM for the region’s private banks up 11% in 2014 compared to 16% in 2013: report By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore ASIA’S trillion-dollar private banking business continues to power ahead, though growth is slowing. Assets under management (AUM) for
      599 words
    • Article, Illustration
      Lock icon Get defensive on M’sian stocks: analysts
      557 4  -  By Pauline Ng btworld@sph.com.g Kuala Lumpur NOTWITHSTANDING another insipid quarter of Malaysian corporate results, domestic equities could still be favoured by investors given that other asset classes also lack appeal. But because of near-term risks including a normalisation of interest rates by the US
      PHOTO: AFP  -  557 words
    • Article, Illustration
      Lock icon MAS: Proposed changes won’t hamper well-managed insurers
      828 6  -  Plans to amend risk-based capital framework are part of regulator’s move to make insurance sector more resilient By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore THE proposed changes to the risk-based capital framework will be more risk-sensitive, robust and fit-for-purpose, but should not hamper well-managed
      Khoo Kah Siang, LIA’s president; MAS’s Ong Chong Tee  -  828 words
    • Article
      Lock icon New Centre for Dispute Resolution to take more holistic approach
      589 6  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore A CENTRE for Dispute Resolution has been launched at the State Courts to pull together the different alternative dispute resolution (ADR) services under one roof. Speaking at its launch on Wednesday, Chief Justice Sundaresh
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      Lock icon Page 4 Advertisements Column 1
      328 4 Paint the town red, or just your room Find painters to do the job or promote your services in CLASS 112 To advertise, call the Print Classified Hotline: 1800-289 9988 BUDGET 2015 and SMES impact and Possibilities Budget 2015 offers an opportunity for businesses to ride on the nation’s economic
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  • Page 6 Advertisements
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      Lock icon Page 6 Advertisements Column 1
      631 6 Fulfilling Your Potential For Career Organisational Success Who should attend: Middle to Senior Managers, Team Leaders Supervisors, HR Managers and Mid-career PMETs. FULL-DAY WORKSHOPS Lifelong Employability by Choice and not by Chance 4 Es and 1 P of Leadership: "Practical Implications for Modern Managers” Managing and Harnessing the Potential of
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Genting Singapore’s tough bet
      757 7  -  The firm’s past easy credit policy is chipping away at profits HOCK LOCK SIEW BY ANITA GABRIEL anitag@sph.com.sg @AnitaGabrielBT IT would be hard to imagine gaming magnate Sheldon Adelson of Las Vegas Sands resisting an I-told-you-so moment after rival Genting Singapore posted its results a week
      Source: Nomura research  -  757 words
    • Article
      Lock icon Retail Reits beat Q4 forecasts: Morgan Stanley
      491 7  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore RETAIL real estate investment trusts (Reits) beat forecasts in their latest Q4 results as headwinds subsided, Morgan Stanley said in a report on Wednesday. “With the highest percentage of earnings beats (outperformance), retail Reits largely outperformed Street
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    • Article, Illustration
      Lock icon Consolidation in PE firms in region seen after banner year
      977 8  -  Increasingly difficult for private equity firms to generate sufficient returns for their investors ALTERNATIVE ASSETS By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore EVEN as the private equity industry experienced a record year in 2014 in terms of portfolio exits, industry players
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    • Article
      Lock icon Hedge fund assets expected to surpass US$3t in 2015: poll
      458 8  -  Institutional investors expect 14.4% growth in management assets By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore INSTITUTIONAL investors appear upbeat on the hedge fund industry with expectations that assets under management (AUM) could grow 14.4 per cent this year, according to a
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    • Article
      Lock icon Changjiang Fertilizer chairman’s leave of absence prompts queries
      645 9  -  Firm ‘unable to take a view’ whether chairman’s ‘personal matters’ will affect his character and integrity as a director By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore CHANGJIANG Fertilizer Holdings which shut down production for all of last year on Wednesday announced that it
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    • Article
      Lock icon SGX trading volumes in Feb up year-on-year
      374 9  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore THE Singapore Exchange (SGX) reported on Wednesday evening that trading volumes generally fell in February this year compared to January, but were higher than last February. SGX noted that February 2015 contained 18 trading days compared to
      374 words
    • Article
      Lock icon Alibaba buys 2.4b yuan stake in film producer Enlight Media
      252 9 BLOOMBERG Hong Kong ALIBABA Group Holding Ltd has purchased a 2.4 billion yuan (S$ 5 30 million) stake in Chinese film company Beijing Enlight Media Co as the e-commerce giant expands its television and entertainment offerings. Hangzhou Ali Venture Capital
      BLOOMBERG  -  252 words
    • Article
      Lock icon JES terminates Scibois acquisition, plans to restructure subsidiary
      450 9  -  By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore CHINESE shipbuilder JES International said on Wednesday that it has terminated plans to acquire a 51 per cent stake in Scibois, which owns a timber extraction business in Congo. The no-go comes just eight months
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    • IN BRIEF
      • Article
        Lock icon Civmec wins Perth Stadium contract
        55 9 MAINBOARD-LISTED Australian engineering firm Civmec has announced that it has been awarded a significant contract for the fabrication and site erection of steelwork for the new Perth Stadium. The contract starts immediately and is expected to be completed in approximately 18 months. Civmec’s current order
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      • Article
        Lock icon Libra secures new contracts worth S$45 million
        59 9 mechanical and electrical engineering firm Libra Group has said that it had secured new contracts worth S$45 million. This brings its order book to over S$102 million as at March 3. The contracts are for providing electrical, air-conditioning and mechanical ventilation systems and
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      • Article
        Lock icon Oxley and Lian Beng in joint venture
        72 9 developer Oxley Holdings has subscribed for 49 per cent of a joint venture called Goldprime Land. Fellow developer Lian Beng Group holds the remaining 51 per cent. Goldprime had been awarded the tender for a land parcel at Tampines North Drive 1 at
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    • Article, Illustration
      Lock icon STI / Catalist
      61 10 STI Catalist Straits Times Index March 4,2015 3,415.53 -6.58 (-0.19%) Current streak 1 day Day high 3,430.19 Day low 3,415.43 52-week high 3,444.57 (Feb 11,2015) 52-week low 3,057.20 (Mar 20, 2014) FTSE ST Catalist index March 4,2015 694.96 +2.49 (+0.36%) Current streak 1 day Day high 696.52 Day low 691.25
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    • Article, Illustration
      Lock icon Less interest in higher-priced issues
      640 10  -  Day’s top four most active counters were all priced below S$0.50 Advance SCT, PNE Micron, IHC and Golden Agri STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT SOMETIMES the movement of the Straits Times Index (STI) doesn’t properly represent how the broad market performed at any given
      Source: Bloomberg  -  640 words
    • Article
      Lock icon STI STOCKS
      318 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 247 -4 253/247 263 213 5.8 6245 CapitaLand 360 unch 362/358 371 268 13.2 2.5 *****.5 CapitaMall Trust 212 -4 218/212 226 186.5 5.1 7354.3 CityDev 1025 cd -1 1033/1024 1118 907
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    • Article
      Lock icon MOST ACTIVE
      33 10 VOLUME Advance SCT 160,537,100 PNEMicron 86,251,900 IHC 67,515,500 Golden Agri-Res 51,777,600 Noble 38,209,800 Market volume 1,507,005,000 VALUE SingTel 87,633,957 DBS Grp 79,293,438 UOB 46,987,622 ComfortDelGro 44,670,061 Noble 38,157,036 Market value 1,031,865,000
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    • Article
      Lock icon SGX ETFs
      110 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS India US$ US821 -1 306 838/820 1000/580 819/822 102.6 IS ASIA HYG US$ US1055 xd -8 56 1055/1055 1119/1013 1055/1063 DBXT MSCHINA US$ US1405 -33 42 1429/1405 1442/1119 1388/1393 ABF SG Bond ETF 114.9
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 10 Mar 4 VALUE CLOSE BT OB/OS -217.00 +76.00 BT CADI -*****.00 -2.00 BT 10-day MA -*****.00 -21.00 FTSE ST Mid Cap 783.92 +0.67 FTSE ST Small Cap 487.72 +0.73 FTSE ST All Share 820.12 -1.03 FTSE ST China Top 191.41 +0.18 FTSE ST China 235.08 -1.25 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      34 10 STI FTSE ST All-Share FTSE ST All-Share Index March 4,2015 820.12 -1.03 (-0.13%) Current streak 1 day Day high 822.80 Day low 820.12 52-week high 827.11 (Feb 11,2015) 52-week low 745.24 (Mar 20, 2014)
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      Lock icon STI / MSCI EAFE
      33 10 STI MSCI EAFE MSCI EAFE Index March 3,2015 1,870.03 -9.45 (-0.50%) Current streak 2 days Day high 1,885.01 Day low 1,870.03 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 9 2 0 0 0 5 9 2 Manufacturing 49 52 28 8 5 13 57 57 41 Commerce 16 23 19 5 3 4 21 26 23 Tpt/Stor/Comms 11 16 12
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 20,774 20,774 47,407 47,407 Manufacturing 181,732 122,783 304,515 105,616 7,269 112,885 Commerce 79,425 40,631 120,056 89,759 1,380 91,139 Tpt/Stor/Comms 92,611 154 92,765 191,335 17 191,352 Finance 34,017 967 34,984 187,085 229 187,314 Construction 60,359 5,886
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    • Article
      Lock icon GAINERS
      77 10 BY CENTS CLOSE UP 52w high/low DBXT MSUSA US$ 5373 344.8 4.9 5373/4538 DBXT Vietnam US$ 2715 38.2 1.0 3100/2403 Lyxor MS India US$ 1833 24.5 1.0 1840/1320 DBS Grp 1947 21.0 1.1 2067/1565 Hyflux 6% CPS ***** 20.0 0.2 *****/***** BY PERCENTAGE CLOSE UP 52w high/low ChinaGaoxian W*****8
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    • Article
      Lock icon LOSERS
      78 10 BY CENTS CLOSE DOWN 52w high/low DBXT Chia50 US$ 3390 -177.2 -3.7 3554/2577 DBXT E50 US$ 5003 -118.6 -1.7 5630/4562 SPDR S&P500 US$ ***** -117.2 -0.4 *****/***** Lyxor ChinaH US$ 1612 -85.9 -3.8 1700/1221 SPDR DJIA US$ ***** -72.2 -0.3 *****/***** BY PERCENTAGE CLOSE DOWN 52w high/low China Oilfield
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    • Article
      Lock icon UNUSUAL ACTIVITY
      82 10 VI i u I()|£n aduaoiliiew il2>U ou» O.U11) 4-ZiBO ifUnj; Xm rti fill's ■0.011 -12*1 iifmio W, 403.0 0003 -0001 -SO.OB itentwnDie Qftagj 1,000.0 0,020 <i,oi3 I OiiynGoit 16.0 0.220 OI.Ml -1OJ00 Gfotwl Tescre TS355.5 0.121 -0.010 4S./7 (urvjinTyr^CBitl T7? n,0(? 0.013 17.33 Pfmnrwflsmti 108.0 0CM3 •onm i?50
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    • BROKERS’ TAKE
      • Article
        Lock icon Sheng Siong Group
        169 10 Buy March 4 close: S$0.745 Target price: S$0.88 Phillip Securities Research, March 4 SINCE its IPO on Aug 17, 2011, Sheng Siong Group Ltd (SSG) is estimated to have gained an additional 3 per cent market share in Singapore’s mass-market modern grocery scene. SSG is ranked third
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      • Article
        Lock icon Libra Group
        131 10 Buy March 4 close: S$0.23 Target price: S$0.37 OCBC Investment Research, March 4 LIBRA Group announced yesterday that its wholly-owned subsidiaries Kin Xin Engineering and Libra Building Construction were awarded new contracts worth an aggregate sum of S$45.0 million. The contracts include a S$22.5 million sub-contract for electrical,
        131 words
      • Article
        Lock icon IREIT Global
        145 10  -  Compiled by Kenneth Lim Buy March 4 close: S$0.86 Target price: S$0.90 DBS Group Research, March 4 IREIT Global reported its inaugural results for the period Aug 13, 2014, to Dec 31,2014. FY14 DPU of 2.57 Singapore cents is in line with our expectations but 0.8 per cent
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    • Article
      Lock icon CALENDAR
      19 10 Data I 3am (March 5) US Fed Reserve Beige Book I 9.30pm (March 5) US initial jobless claims
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    • Article
      Lock icon Greenback eases ahead of key US data
      374 11 CURRENCIES AFP Tokyo THE US dollar eased against the yen on Wednesday as investors await a key US jobs report later this week. In Tokyo, the greenback slipped to 119.68 yen from 119.74 yen in New York, coming off levels above 120 yen
      AFP  -  374 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 11 Mar 4 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.978 4.907 0.700 6.067 48.439 101.490 0.936 8.592 2.849 1.035 79.725 34.502 1.067 9.199 0.752 24.621 25.325 0.509 0.782 Canada 1.022 5.016
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      • Article, Illustration
        Lock icon HANG SENG
        2 11
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      • Article, Illustration
        Lock icon NIKKEI
        1 11
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        Lock icon SHANGHAI COMPOSITE
        2 11
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      • Article, Illustration
        Lock icon DOW JONES
        2 11
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 11 Mar 4 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0660 1.0674 0.7821 0.7826 Canadian dollar 1.0897 1.0909 0.7999 0.7995 Euro 1.5229 1.5244 1.1173 1.1177 NZ dollar 1.0302 1.0311 0.7558 0.7560 Sterling pound 2.0941 2.0962 1.5364 1.5369
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 11 Mar 4 S$ Bid Offer 1-month 1.3644 1.3656 2-months 1.3656 1.3666 3-months 1.3663 1.3676 6-months 1.3669 1.3681 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        208 11 Most active Mar 04 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****0 10.2 1.4 3571 0.2 1980 1 UOB MB eCW*****1 15 -0.8 3094 0.1 2380 4 Compact Metal Indus W*****0 2.2 -0.2 3049 1 2
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 11 In local curr In S$ In US$ dy yr dy yr dy yr Mar 3 Index Change Change Change Change Change Change World Preliminary 1335.5 -0.8 4.7 -0.8 6.1 -0.7 3.2 EAFE Preliminary 1071.5 -0.6 8.6 -0.6 8.4 -0.5 5.4 Europe Preliminary 1504.6 -1.0 8.9
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        362 11 Mar 4 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.78 *****.66 *****.84 Mar15 *****.00 *****.00 *****.00 *****.00 ***** *****8 Jun15 *****.00 *****.00 *****.00 *****.00 1212 ***** MSCI TAIWAN INDEX FUTURES SPOT 356.14 358.01 355.40 Mar15 356.30 358.20 354.70 357.40 ***** *****3 Apr15 357.20
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    • BANK RATES
      • Article
        Lock icon SIBOR
        36 11 Mar 4 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) 1 mth 0.***** 3 mths 0.***** 6 mths 0.***** Source: Thomson Reuters
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      • Article
        Lock icon INTERBANK RATES
        154 11 Mar 4 $S Offer Bid 0vernight 0.05 0.01 1-month 0.6875 0.5625 2-months 0.6875 0.5625 3-months 0.8750 0.7500 Overnight mode: 0.40 US$ 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
        67 11 Mar 4 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.54 102.58 102.58 5-Year N*****0H 1.625 01-Oct-19 99.46 10-Year NY*****H 3.000 01-Sep-24 105.65 105.75 105.60 15-Year NY*****E 2.875 01-Jul-29 102.91 102.95 102.95 20-Year NZ*****V 3.375 01-Sep-33 108.91 108.98 108.63
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        230 11 Mar-3 Pure n*t riunyp SscJiao^e Lsirraae Agricultural Mur 3 CEC1 -obtains J5a»hl/uu.> IO»T3 2£C 0^> M riioi Soy 0 111 oil R6 cma/iD) UfO a is o.>m u«sraai5 t;h(u wh>«l «jyi Binis.'nu) •.<»(*> Oj*, o.tsft StoWWW MAT-2 ajAiCO Jdl-OT um i/AU.vms UFRE Otlw (055/tWnnhl s^pn t* SIJftOT} LlFPf
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      Lock icon Page 7 Advertisements Column 1
      264 7 Graduate Certificate In Applied Portfolio Management (g-CAPM) Programme Dates: 18 May 24 May 2015 2 August 8 August 2015 The CAMRI Applied Portfolio Management Programme is a 7-day state-of-the-art training programme at NUS Business School, Singapore, developed by academic professionals for investment professionals, and conducted at the world’s most advanced
      264 words
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      114 7 Julius Bar YOUR PRIVATE BANK "A IS? jew 125 WE WISH YOU SMOOTH SEAS FOR THE NEW YEAR AHEAD. ISN’T IT TIME TO EXPLORE NEW OPPORTUNITIES? In welcoming the Year of the Ram, we wish you prosperity and good health for generations to come. We are also delighted to be
      114 words
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      738 8 SO SO so Written by Marcus Ho, co-founder ofSocialMetric, a measurable social media agency and author of Social Payoff, where he shares best practices on digital lead generation Just a few months ago, I met a friend who recently passed his CEA real estate agent examinations. Naturally, he got very
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      Lock icon Page 9 Advertisements Column 1
      44 9 BuildTech Yangon 2015 Myanmar's Leading Building Technology and Supply Event 2 4 April 2015 Myanmar Convention Centre Yangon, Myanmar TRANSFORM i AE 3PT A S' PRE-REGISTER NOW at www.btyangon.ciB| Organised by: sphere A SUBSIDIARYOF Sfh To Exhibit, call +65 6319 4037 or email btyangon@sph.com.sg
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      61 9 The Premier Platform for Gifts Sourcing ilSGPFair Singapore Gifts Premiums Fair 2015 29-31 JULY 2015 Marina Bay Sands Expo Convention Centre, Singapore www.SGPFair.com i w EXHIBIT PROFILE Lifestyle Retail Gifts Florists Hampers Rewards Incentives Etc. rr Interested to exhibit? Tel: (65) 6848 5938 Email: SGPFair@bizlink.com.sg Organised By: BIZLINK Exhibition Services
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      49 9 Stone Forest IT -rX' Calling All Sage CRM Users! Singapore's only Sage CRM partner with: #0# Largest team of certified consultants and in-house developers o Qualified CRM practice advisory services Longest history of CRM implementation experience Contact us for Complimentary Sage CRM Health-Check www.StoneForestlT.com ITSales@StoneForestlT.com T +65 6594 7594
      49 words
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Mortgagee sales lift number of auction properties in Jan-Feb
      1218 12  -  JLL figures show 114 properties put up for auction in first 2 months of 2015, up 52% from 2014 and 58% more than 2013 By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore A TOTAL of 114 properties were put up for auction in
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    • Article
      Lock icon British property ‘safe haven’ for corrupt cash: report
      498 13 Tens of thousands of London properties are owned by secretive companies, says Transparency International AFP London BRITISH property is a safe haven for money stolen from around the world, with tens of thousands of London properties owned by secretive companies, according to
      AFP  -  498 words
    • Article
      Lock icon Saudi prince’s NY apartment on sale for US$48.5m
      313 13 LUXURY HOMES AFP New York A LUXURIOUS New York apartment, reportedly the property of Saudi royalty and furnished with bullet-proof panic rooms and a sushi island bar, is on the market for an eye-watering US$48.5 million. The palatial pad, which has three
      AFP  -  313 words
    • Article
      Lock icon London penthouse offers chance to look down at royalty
      435 13 BLOOMBERG Dubai A PENTHOUSE “overlooking the Queen’s balcony” will cap a London luxury apartment project planned near Buckingham Palace, according to its Abu Dhabi-based owner. The 10,000 square-foot (929 square-metre) apartment at No 1 Palace St across the street from the
      BLOOMBERG  -  435 words
    • Article, Illustration
      Lock icon Large US equity firms lending to landlords
      1484 14 They are betting that loans to smaller investors will be the next big opportunity to profit from property rebound NYT New York IN the aftermath of the financial crisis, large private equity firms spent tens of billions of dollars buying foreclosed homes across
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      Lock icon Rivalry drives Germany’s 2 largest landlords to overseas expansion
      709 15 Deutsche Wohnen’s bid for Conwert follows Deutsche Annington’s acquisition of Gagfah SA last year BLOOMBERG Berlin GERMANY’S two largest landlords are expanding, though their dominant position means the rivalry may move beyond the country’s borders. Deutsche Wohnen AG, one of two
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      Lock icon Househunt
      1171 15 Property transactions for districts 3 to 28 with contract dates between Jan 21 and Jan 27,2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 3 NON-LANDED The Anchorage Apt 27/01/2015 FH 2077 3100 1492 The Regency At Tiong Bahru Apt
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      Lock icon Two retail properties in Paya Lebar and Aljunied up for sale
      322 15  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore TWO freehold retail properties one near Paya Lebar MRT station and the other near Aljunied MRT station have been launched for sale by expression of interest. The first is the entire basement retail
      322 words
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      652 12 m m JAPAN RESIDENTIAL BUILDINGS forsale BP No. JE*****3 ASKING PRICE JPY 1.7 bil/USD 14.3 mil Takanawa Minato-ku 2-min walk to Sengakuji station Site area 395.84 sq m 39 Units Completing 4Q 2015 Est. gross yield 4.3% Prestigious neighbourhood near to Shinagawa redevelopment area rr.m m ASKING PRICE JPY 700
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      167 12 KnightFrank.com.sg For Sale by Expression of Interest Address 42 Changi South Street 1 Singapore *****3 Description Single storey factory with 2-storey office annex located within the vicinity of Changi South industrial estate. Suitable for B2 industrial uses. Land Tenure JTC lease 30 yrs w.e.f 1 July 1996 with an addition
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      420 13 INVEST IN A PRIME WATERSIDE PROPERTY IN THE HEART OF LONDON. N. o. Yo Nl ~jx. c 4'Y Q A A JJ Q I ■Sis m W 0. Q: TEN Wm\ jo O' S'•* N-i-'■ N I* :<VMS r i ft 5 i I fl ?o\ A 'o. V, <9/
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      237 14 Living Like Raffles Foreigners Can Buy Conservation House The Location! The rare status that Foreigners CAN Buy! But it’s a residential House! See our conservation terrace with a lovely forecourt, elegant Victorian finishes and a shared pool and underground covered parking. Near Robertson Quay, River Valley, Mohamed Sultan and the
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      21 14 20 COLLYER QUAY Excellent Seaview Next to Raffles Place MRT Station 1,001 sq ft to 1,302 sq ft 6225 7000I6428 7864
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      145 14 Discover the joy of reading The Straits Times a rz r r i Choose from 6 amazing gifts when you subscribe now! e °OVo r<? Print Online Smartphone Tablet Lenovo TAB 2 A7-10 HTC RE Camera THE STRAITS TIMES See more gifts and subscribe at www.stsub.com.sg/stfebl5 or cal I *****800
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon The case of rupiah jitters for Indonesia’s foreign bond investors
      647 16 Forward rupiah markets, bond yields down but Indonesia bonds still offer second-highest yield in Asia, after India REUTERS Singapore FOREIGN portfolio investors are showing signs of losing faith in Indonesia’s ability to support the rupiah, going by their lacklustre interest
      REUTERS; PHOTO: BLOOMBERG  -  647 words
    • Article
      Lock icon RBS may cut two-thirds of investment bank jobs
      280 16 BLOOMBERG San Francisco ROYAL Bank of Scotland Group plc may cut as many as 14,000 investment banking jobs, or more than twothirds of the workforce, as part of a plan to focus on the UK consumer market, a person with knowledge of
      BLOOMBERG  -  280 words
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      Lock icon Yuan to stay stable in long term: forex chief
      448 16 REUTERS Beijing THE yuan’s exchange rate will remain stable in the long run, and two-way trade will be maintained in the currency market, the head of foreign exchange strategy at China’s central bank said, sounding a reassuring note in the face
      REUTERS  -  448 words
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      Lock icon Britain’s moneyed elite still enjoying Edwardian-era tax break
      1400 16 NYT London THEY are among the British moneyed elite: the head of the nation’s largest bank, a billionaire hedge fund manager and the owner of some of London’s most luxurious nightclubs. Yet for tax purposes, they are not entirely British. Thanks to
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      272 16 THE BUSINESS TIMES NOTICES IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF SHINSEI TECHNOLOGY SERVICES PTE. LTD. (In Member’s Voluntary Liquidation) Company Registration No. *****6778N NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to section 308 (2) of the Companies Act, Cap. 50,
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  • ENERGY & COMMODITIES
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      Lock icon Japan’s solar energy boom runs out of steam
      860 17 Some advocates fear the government is retreating from its clean-energy commitments NYT Makurazaki, Japan RICE fields, golf courses and even a disused airport runway. All over the southern Japanese region of Kyushu, unexpected places gleam with elec-tricity-producing solar panels. Solar use in
      NYT; PHOTO: NYT  -  860 words
    • Article
      Lock icon Energy rout seen weighing on palm prices
      594 17 BLOOMBERG Kuala Lumpur PALM oil futures trading at the highest level since July may weaken as energy prices resume a decline and global soyabean supplies expand, according to Michael Coleman, managing director of RCMA Asset Management Pte. Futures may trade between US$550 and
      BLOOMBERG  -  594 words
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      349 17 STProperty EVE CITS STPROPERTY SEMINAR: Strategies to Capitalise on Opportunities and Avoid Pitfalls in the Property Market 2015 Date: Saturday Sunday 18- 19 April 2015 Venue: SUNTEC Singapore Convention Exhibition Centre Level 3 Rooms 300-304 308-312 Time: 11.00am to 4.00pm Registration starts at 10.30am All prices are inclusive of GST
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  • TECHNOLOGY
    • Article
      Lock icon Thousands of sites at risk from newly found online flaw
      453 18 Security risk stemmed from poor US encryption practices in 1990s AFP Washington A NEWLY discovered Internet security flaw could leave many websites vulnerable to hackers because of weak US encryption standards in the 1990s, researchers said on Tuesday. The flaw
      AFP  -  453 words
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      Lock icon Huawei in patent race ahead of 5G era
      352 18 REUTERS Barcelona CHINA’S Huawei Technologies, the world’s second-biggest maker of network gear, is beefing up its patent portfolio ahead of 5G, the next generation of mobile equipment, its chief executive said on Tuesday. Huawei, also the world’s fourth-largest maker of smartphones, has
      REUTERS; PHOTO: BLOOMBERG  -  352 words
    • Article
      Lock icon Apple, Google develop fixes for new bug in mobile devices, Macs
      347 18 REUTERS Boston APPLE Inc and Google Inc said on Tuesday that they have developed fixes to mitigate the newly uncovered “Freak” security flaw affecting mobile devices and Mac computers. The vulnerability in web encryption technology could enable attackers to
      REUTERS  -  347 words
    • Article, Illustration
      Lock icon BlackBerry unveils Leap smartphone to lure touch-screen fans
      428 18 BLOOMBERG Barcelona BLACKBERRY Ltd introduced a five-inch touch-screen device for the lower end of the market in the erstwhile smartphone leader’s latest attempt to regain customers. The Leap, which comes in white and gray, will cost US$275, less than half of what
      BLOOMBERG  -  428 words
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      52 18 MAKE FOR INDIA n ses n S B gap sine ore areeyei gth cou try’s n e n dom stic ark e m et ANUSHKA SHARMA PRODUCES A THRILLER AND ACTS IN IT AS WELL GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL SHAN (*****861) KALWANT (*****327)
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      62 18 19-22 March 2015 SUNTEC Singapore, Levels 3, 4 6 12-9pm fb.com/ComexITShow itshow.sg itshow.sg f fb.com/ComexlTShow Sell your tech products services at Singapore’s LARGEST I.T., digital, mobile consumer electronics exhibition! Call *****620 or email to sales@exhibitsinc.com.sg Book Your Space NOW! *Limited Booths Available ORGANISED BY: Organiser of IT SHOW, Food and
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      83 18 Myanmar: Myanmar Civil Aviation Development Conference 2015 23 26 March 2015 Sedona Hotel Yangon www.mcadc.sphereconferences.com /MS* Greater Heights V-V v, The only strategic conference where airports, airlines and stakeholders convene to define the future of Myanmar’s aviation sector. Organiser: 'sphere Patron: Official Host: SINGAPORE PRESS HOLDINGS Group booking is available
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      67 18 H O T PR O PERTY SEMI-D KEMBANGAN MRT 5 Huge bdrms 3-sty. Gdn spacious Backyard. 3240/ 3600 sf. 3 STY HUGE terr Siglap. Land 2900/ 4500 sf. 4 large bdrms. all ensuite. Pk 2car. $5.9K. BAYSHORE RD. CORNER terr 2271 sf 5 rms. P/furn. Reno Walk to beach. LOOKING
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  • CONSUMER
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      Lock icon Malaysia ‘still the top choice for Muslim travellers’
      562 19 Survey: But among non-Muslim destinations, Singapore and Thailand were the favourites among such travellers AFP Singapore MALAYSIA is the most preferred global destination in the fast-growing Muslim travel market, despite two catastrophic air disasters that hit the country’s flag-carrier last year, a
      AFP; PHOTO: AFP  -  562 words
    • Article
      Lock icon Alibaba opens first overseas cloud centre in Silicon Valley
      437 19 REUTERS Hangzhou ALIBABA Group Holding Ltd is launching a cloud computing hub in Silicon Valley on Wednesday, the e-com-merce giant’s first outside of China, underscoring its global ambitions in the face of stiff and entrenched competition. The new California data centre
      REUTERS  -  437 words
    • Article
      Lock icon Target to cut thousands of jobs as it seeks to cut costs
      337 19 REUTERS New York US retailer Target Corp, which has been battling back after a massive data breach and sluggish performance, on Tuesday said it will eliminate several thousand jobs, mainly from headquarters locations in the United States and
      REUTERS  -  337 words
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      44 19 SINGAPORE'S #1 ENGLISH BREAKFAST SHOW FOR WOMEN l(ISS92 FM f 2014 TO AC NIELSEN RADIO SURVEY, WAVE2, •OrQ-O-V^ facebook.com/kiss92fm v V i HSaBBi IN THE MORNING V.ViKf. WEEKDAYS 6-10 AM Download on the ANDROID APR ON V App Store Google play 2.s g la
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  • GOVERNMENT & ECONOMY
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      Lock icon China free trade zone a bust so far: US business survey
      332 20 AFP Shanghai NEARLY three-quarters of American firms in Shanghai say China’s first free trade zone (FTZ) offers them no business benefits almost 18 months after it was established, according to a survey on Wednesday. The Chinese commercial hub set
      AFP  -  332 words
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      Lock icon Slow Australian economic growth fuels expectations of rate cut
      627 20 Latest figures sign of Australia’s struggle to move from mining-investment boom AFP Sydney AUSTRALIA’s economy expanded slower than forecast in the last three months of 2014, data showed Wednesday, fuelling expectations that the central bank will further cut interest rates to
      AFP; PHOTO: BLOOMBERG  -  627 words
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      Lock icon China services sector picks up in February as new orders improve
      385 20 HSBC/Markit Services PMI rises to 52 from Jan’s 51.8 REUTERS Beijing ACTIVITY in China’s services sector grew modestly in February as new orders rose at their quickest pace in three months, a private survey showed just a few days
      REUTERS  -  385 words
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      Lock icon China defence budget rise to defy slowing economy
      507 20 REUTERS Beijing CHINA’S defence budget this year will rise about 10 per cent compared with 2014, a top government official said on Wednesday, outpacing the slowing economy as the country ramps up investment in high-tech equipment such as submarines and stealth jets.
      REUTERS  -  507 words
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      Lock icon Abbott says relations with Indonesia have been damaged as executions loom
      523 20 BLOOMBERG Canberra INDONESIA’s pending execution of two Australians has hurt the nations’ relationship, Prime Minister Tony Abbott said, after the duo were moved to an island prison where they will face a firing squad. “Millions of Australians are feeling
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      Lock icon Malaysia orders review of 1MDB accounts
      343 21 investigation into state-owned investment fund comes amid allegations of shadowy deals and missing millions AFP Kuala Lumpur MALAYSIAN Prime Minister Najib Razak on Wednesday ordered an investigation into the accounts of a state-owned investment fund amid allegations of shadowy deals and missing millions. The
      AFP  -  343 words
    • Article
      Lock icon Business activity grows in euro-area’s top four economies
      330 21 BLOOMBERG London BUSINESS activity expanded in each of the euro-area’s four largest economies for the first time in almost a year, signalling that a fragile recovery is slowly becoming more sustained. A Purchasing Managers Index for the manufacturing and services industries across
      BLOOMBERG  -  330 words
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      Lock icon Job gains, cheaper petrol fuel service sector growth
      491 21 LATEST US DATA BLOOMBERG Washington SERVICE industries unexpectedly expanded at a faster pace in February, encouraging companies that make up the biggest part of the US economy to take on more workers. The Institute for Supply Management’s (ISM) non-manufactur-ing index increased to
      BLOOMBERG; PHOTO: AFP  -  491 words
    • Article
      Lock icon Fed working to prevent ‘regulatory capture’ by banks it oversees: Yellen
      564 21 BLOOMBERG Washington US Federal Reserve chair Janet Yellen, countering criticism from members of Congress, said that the central bank is trying to avoid being too cozy with the Wall Street firms it supervises and wants to ensure that regulators
      BLOOMBERG  -  564 words
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      Lock icon Britain victorious in clash over City of London clearinghouses
      740 21 BLOOMBERG London BRITAIN has scored a rare victory in its bid to challenge European Union powers over the City of London as EU judges sided with the UK in a clash with the European Central Bank (ECB) on clearinghouses. The EU
      BLOOMBERG  -  740 words
  • Page 20 Advertisements
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      28 20 Blow your own trumpet Buy new musical instruments or put up your old ones for sale in CLASS 72 To advertise, call the Print Classified Hotline: 1800-289 9988
      28 words
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  • OPINION
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      Lock icon Greater shift towards indirect taxes may be on the cards
      606 22 EDITORIAL MORE often than not, the parliamentary debate on the national budget opens with a chorus of requests from MPs for still more to be done for heartland households or resource-stretched businesses buffeted by rising costs. Given the largesse of
      606 words
    • Article
      Lock icon Central bankers continue to be divided over bitcoin
      844 22  -  THE BOTTOM LINE By Mark Gilbert BLOOMBERG VIEW BITCOIN, the poster child for digital currencies, is proving something of a headache for central banks. Should they ban it, regulate it, embrace it, undermine it or just ignore it? Their best bet would
      BLOOMBERG VIEW  -  844 words
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      Lock icon Are American-Israeli ties cooling?
      1349 22  -  Not really; current spat over Iranian nuclear deal is less serious than previous diplomatic crises By Leon Hadar AMERICAN politicians and pundits tend quite frequently to use glowing terms in describing the relationship between the United States and Israel, creating the impression that the two countries
      PHOTO: AFP  -  1,349 words
    • Article
      Lock icon Greek lessons for the IMF
      914 23  -  COMMENTARY By Desmond Lachman T The writer is a resident fellow at the American Enterprise Institute. He was formerly a deputy director in the International Monetary Fund’s Policy Development and Review Department and the chief emerging market economic strategist at Salomon Smith Barney. WITH Greece’s
      914 words
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      Lock icon The best of UK innovation and education in Singapore
      883 23  -  COMMENTARY By Antony Phillipson, Roland Davies T Antony Phillipson is the British High Commissioner to Singapore and Roland Davies is Director, British Council Singapore THE year 2015 marks the 50th anniversary of Singapore’s independence and diplomatic relations with the UK. A
      883 words
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      Lock icon Gold-oil ratio: Does it point to a recession ahead?
      1179 23  -  There’s a similarity in how the gold-oil ratio behaves in 2015 and during the Global Financial Crisis, but the oil plunge now likely just reflects an oversupply phenomenon. BY BARNABAS GAN phenomenon.BY BARNABAS GAN T The writer is an economist at
      PHOTOS: BLOOMBERG, REUTERS  -  1,179 words
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  • TRANSPORT
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      Lock icon Global shipping industry faces shake-up as private equity unwinds bets
      740 24 Weaker Chinese demand, ship glut have driven down freight rates and caused firms to idle vessels REUTERS Singapore AS global shipping grapples with its worst downturn in 30 years, private equity firms are unwinding massive bets made on the sector
      REUTERS  -  740 words
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      Lock icon California ports recovering from labour impasse
      724 24 BLOOMBERG Los Angeles SOUTHERN California seaports responsible for more than 40 per cent of US imports are whittling down a three-month backlog of cargo that built up during a labour dispute, the harbour chiefs said. On Tuesday morning, 29 ships waited outside the neighbouring
      BLOOMBERG; PHOTO: REUTERS  -  724 words
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      Lock icon Silicon Valley looms large over Geneva Motor Show
      577 24 NYT Geneva DIETER Zetsche, the chief executive of Daimler, began a meeting with reporters at the Geneva International Motor Show on Tuesday by half-jokingly asking them not to spend more than half the allotted time talking about Apple. It was an indication
      NYT; PHOTO: REUTERS  -  577 words
    • Article
      Lock icon Jan’s global air passenger traffic slows to 4.6%
      455 24  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore GLOBAL air travel (measured in reve-nue-passenger kilometres) eased to 4.6 per cent growth in January, down from the 5.9 per cent expansion rate seen for the whole of last year. While the slowdown may not necessarily
      455 words
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    1025 25 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville Hyundai Future 476E 11 Mar 02 Apr 18 Apr 24 Aug 27 Apr 29 Apr 02 May 03 May 08 May 11 May 11
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      191 25 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? 'n ie Business Times TO ADVERTISE, CALL JOE WONG AT 9620 1327 Spotlight Award Wins Recognition
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  • LIFE & CULTURE
    • Article
      Lock icon US faces shortfall of 90,000 doctors by 2025
      599 26 There is also a critical need for specialists to treat an ageing population with chronic diseases WP Washington THE United States faces a shortage of as many as 90,000 physicians by 2025, including a critical need for specialists to treat an ageing
      WP  -  599 words
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      Lock icon MoMA retrospective journeys into world of Iceland’s Bjork
      449 26 REUTERS New York WITH pulsating sounds, stunning videos and elaborate costumes, a retrospective at the Museum of Modern Art (MoMA) dedicated to the work of Bjork transports visitors into the creative world of the Icelandic musician, composer and singer. Bjork, which opens
      REUTERS; PHOTO: REUTERS  -  449 words
    • Article
      Lock icon Are you really allergic to antibiotics?
      883 26  -  By Victoria Dooley NYT Novi, Michigan ALLERGIC reactions to antibiotics can be severe, including symptoms ranging from hives and wheezing to anaphylactic shock. People with such allergic reactions are right to steer clear. The problem is that many, and probably most, people who say
      NYT  -  883 words
    • Article
      Lock icon Sweet Briar College in Virginia to close because of financial challenges
      469 26 WP Washington FOR more than a century, Sweet Briar College has offered women a liberal arts education in a pastoral setting near the Blue Ridge Mountains of Virginia. Equestrian programmes, a tight-knit residential community and, lately, an engineering science
      WP  -  469 words
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  • Page 26 Miscellaneous
    • Miscellaneous
      Lock icon Page 26 Miscellaneous Column 1
      337 26 CRYPTIC CROSSWORD Across 1 Better order meal before I make speech (10) 9 It’s neckwear, say, for the dandy (4) 10 Understanding why we need a compass (10) 11 Tearaway’s con trick (3-3) 12 Scottish man going it alone; was he wise? (7) 15 Completed fitting but not yet paid
      337 words