The Business Times, 7 March 2015

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Total Pages: 41
1 16 The Business Times
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  • Title Section
    Lock icon Masthead
    14 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g MARCH 7-8, 2015 S$1.00| MCI (P) 052/08/2014
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  • Article, Illustration
    Lock icon Big strides for women – by whose count?
    1264 1  - Big strides for women by whose count? Statistics may paint a pretty picture of increasing gender equality on the eve of International Women’s Day, but are the usual yardsticks still relevant? By Debbie Yong debyong@sph.com.sg @DebbieYongBT Singapore IF you’d asked HSBC India chairman Naina Lal Kidwai what her gauge of
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  • Article
    Lock icon More Cat A cars with lower OMV after recategorisation
    550 1  -  By Samuel Ee samuelee@sph.com.sg Singapore A YEAR after the reclassification of certificate of entitlement (COE) Category A, more small cars that cost less have been registered. Cat A used to be only for cars of below 1,600 cc, but since February
    550 words
  • Article
    Lock icon US jobless rate lowest in 7 years
    26 1 ECONOMY Employers add more jobs than forecast in February and the unemployment rate drops to 5.5 per cent. 2
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  • Article
    Lock icon Need for tech boost in Singapore
    25 1 ECONOMY DOMAIN experts with deep specialist know-how are required as sectors transform and morph, says Lim Hng Kiang. 4
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  • Article
    Lock icon Big banks in US clear stress tests
    31 1 FINANCE THEY appear to have the financial strength to survive a nightmarish world where unemployment soars, house prices plummet and Wall Street crashes. 7
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  • Article
    Lock icon Further write-off needed: Iceberg
    29 1 CORPORATE THE short-seller attacks Noble Group yet again, saying that US$315 million more of its carrying value of Yancoal Australia should be written off. 10
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  • Article
    Lock icon China flags wider fiscal deficit
    25 1 ECONOMY IT will pursue an expansionary fiscal policy to prevent its economy from stalling, says Finance Minister Lou Jiwei. 23
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      43 1 the business times www. usinesstimes.com. g MARCH 7-8, 2015 S$1.00| MCI (P) 052/08/2014 MOTORING Toyota Vellfire L14 REAL ESTATE Three Marina Bay Residences units sold at over S$3,000 psf 15 the raffles conversation ANDREAS JACOBS, CHAIRMAN OF INSEAD 8-9 LIVING Beefed up L2-5
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      11 1 8"*****1"*****4 45Ladies, have you tried leaning in somewhere else? Page 3
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  • TOP STORIES
    • Article, Illustration
      Lock icon CONTENTS
      53 2 NEWS Top Stories 2-7 Raffles Conversation 8-9 Companies Markets 10-14 Real Estate 15-16 Banking Finance 17 Energy Commodities 18 Technology 19 Consumer 20 Transport 21 Govt Economy 22-25 Opinion 26-27 Wealth 28-30 Life Culture 31 LIVING Dining L2-7 T ravel L8-9 Home Garden L10-11 Watches L12 Health L13 Motoring
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    • Article
      Lock icon Feb jobless rate down at 5.5%, lowest in 7 years
      537 2 Payrolls climb more than forecast; Jan trade deficit falls to US$41.8b LATEST US DATA Bloomberg AFP Washington EMPLOYERS added more jobs than forecast in February and the unemployment rate dropped to 5.5 per cent, the lowest in almost seven years,
      Bloomberg; AFP  -  537 words
    • MARKETS
      • Article
        Lock icon FOREX
        50 2 FOREX US$ S$ US$ (S$ per US$) 1.370 (US$/S$ per 1.523 2.086 EURO (US$/S$/€ 1.102 1.510 Foreign currency per US$ S$ YEN 120.10 87.70 RM 3.652 2.666 HK$ 7.757 5.663 BAHT 32.42 23.66 RUPIAH 12,970 9,468 RENMINBI 6.264 4.573 INDIAN RUPEE 62.37 45.53 A$ 1.283 0.936 NZ$ 1.339 0.978
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      • Article
        Lock icon STOCKS
        58 2 GSTI 3,417.51 (+22.24) GSTI FUTURES 3,415.00 (+26.00) GSIMSCI 381.20 (+1.48) GSIMSCI FUTURES 381.00 (+1.00) Friday Change KL COMP 1,806.96 +0.87 NIKKEI 225 18,971.00 +219.16 HANG SENG 24,164.00 -29.04 SET 1,568.29 +14.96 JAKARTA 5,514.79 +63.84 MANILA 7,861.33 +42.29 KOSPI 2,012.94 +14.56 SHENZHEN B 1,101.40 +2.72 MUMBAI IND CLOSED CLOSED 11am
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.35 MALAYSIA 6.85 HONG KONG 5.00 INDONESIA 14.569 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.85 SWITZERLAND 0.50 INDIA 14.75 Source: Bloomberg
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    • Article
      Lock icon Lee Kuan Yew’s condition ‘largely unchanged’: PMO
      261 2  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore FORMER prime minister Lee Kuan Yew’s condition remains “largely unchanged” since the last update on his health a week ago. In a brief statement on Friday, the Prime Minister’s Office (PMO) said that doctors at the Singapore
      261 words
    • Article, Illustration
      Lock icon Ladies, have you tried leaning in somewhere else?
      754 3  -  BTBLOGS Joyce Hooi joyceh@sph.com.sg @JoyceHooiBT Correspondent “Soon, some stupid reporter would write that she had ‘stormed the male bastion’. All these women were doing that these days ‘Rising against the odds’ they all were. But what great subjugations did these women suffer,
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    • Article
      Lock icon Need for tech boost as sectors transform
      459 4  -  Minister says manufacturing will remain important part of S’pore growth story; ways to raise productivity identified BUDGET DEBATE By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore DOMAIN experts with deep specialist know-how are required as sectors transform and morph, said Minister for Trade and Industry
      459 words
    • Article, Illustration
      Lock icon Spending by Ministry of Home Affairs to hit 1.3% of GDP in 5 years
      692 4  -  By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore GOVERNMENT spending on fighting crime is set to rise to around 1.3 per cent of nominal GDP yearly over the next five years, up from 1.1 per cent now.
      FILE PHOTO  -  692 words
    • Article, Illustration
      Lock icon Polys and ITE to oversee strategic sectors
      530 5  -  They will be point of contact for SkillsFuture movement that links study and work BUDGET DEBATE Reports by Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE polytechnics and the Institute of Technical Education (ITE) will each oversee a group of sectors in the government’s drive
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    • Article
      Lock icon Singapore families to get more support for education costs
      420 5 THE government will spend S$250 million over the next three years on extra financial support for Singaporean families, to help them with their education costs. Outlining the measures in parliament, Education Minister Heng Swee Keat said that the government was subsidising
      420 words
    • Article
      Lock icon Panellists at launch of E50 Awards welcome SkillsFuture movement
      597 5  -  By Prisca Ang prisang@sph.com.sg Singapore THE new SkillsFuture drive has been lauded for enabling individuals to take ownership of their learning and to broaden their career options. Panellists at the launch of the Enterprise 50 (E50) Awards on Friday agreed that,
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    • Article, Illustration
      Lock icon Malaysia’s RHB to expand aggressively in Singapore
      638 6  -  The Republic will become its hub for treasury and originating regional business By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore RHB Banking Group intends to expand aggressively its investment bank in Singapore and will make the Republic its hub for regional treasury and for
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    • Article
      Lock icon Mueller lands in KL to start job as MAS chief
      570 6  -  By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore A WEEK before the first anniversary of the disappearance of Malaysia Airlines (MAS) flight MH370, Christoph Mueller landed in Kuala Lumpur to take up the job as the carrier’s new chief. The 52-year old
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    • Article
      Lock icon MAS reboot New course
      76 6 Compiled by BT GCarrier pores over 4,000 contracts, cuts monthly bills to inflight caterer Brahim by one-fourth for six months up to March 2015 and is negotiating newterms GLooming staff cuts of up to 30 percent GRoute rationalisation 10 per cent capacity cuts to focus on
      Compiled by BT  -  76 words
    • Article
      Lock icon Big banks in US clear Fed’s stress tests
      1249 7 Results of the second stage of the tests due next week will determine if Fed approves the banks’ dividend payouts NYT New York THE United States’ largest banks appear to have the financial strength to survive a nightmarish world where unemployment soars,
      NYT  -  1,249 words
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      146 7 THE BRITISH CLUB Singapore's Hilltop Retreat ft "sS V OPEN HOUSE Sunday, 8 March 10.00am to 5.00pm Visit The British Club for a comprehensive tour and only for that day, enjoy exclusive promotions and stand a chance to walk away with a holiday for 2 at the luxurious MesaStila Resort
      146 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon From beans to business
      2336 8/9  -  Andreas Jacobs, scion of one of Germany’s leading business families and now, chairman of French business school Insead, shares his experiences. By Andrea Soh sandrea@sph.com.sg @AndreaSohBT HE has made a living off music, horses, chocolate, human resources and sports media, and chairs the boards of some
      PHOTO: ARTHUR LEE  -  2,336 words
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Iceberg: Noble needs to make further write-off
      688 10  -  It says it is a whistleblower and will address Noble’s debt-related issues By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore CLAIMING that it has been acting as a whistleblower and not as a short-seller, little-known Iceberg Research on Thursday launched a further attack on
      Source: Bloomberg  -  688 words
    • Article, Illustration
      Lock icon M&A activity surge may continue this year: Evercore chief exec
      764 10  -  By Genevieve Cua gen@sph.com.sg Singapore THE global surge in merger and acquisition (M&A) activity is likely to continue this year, thanks to supportive equity and debt markets, says Ralph Schlosstein, president and chief executive officer of Evercore. In 2014, the
      PHOTO: ARTHUR LEE  -  764 words
    • Article, Illustration
      Lock icon STI up for the week as it recoups Thursday’s loss
      733 11  -  STOCKS R Sivanithy sivan@sph.com.sg @RSivanithyBT Senior Correspondent MOVEMENTSinthe Straits Times Index (STI) each day appear to be driven more by expectations of how Wall Street might perform later that same day than how it did the evening before. This has
      733 words
    • Article, Illustration
      Lock icon Sinarmas Land 6.4% higher on IPO talk
      354 11 HOT STOCK| Bloomberg Singapore SINARMAS Land Ltd shares jumped the most in seven months after people familiar with the matter said that the Indonesian developer backed by billionaire Eka Tjipta Widjaja had revived talks on a US$300 million initial public offering of a
      Bloomberg; Source: Bloomberg  -  354 words
    • Article
      Lock icon Fitch hands OCBC’s A$ floating-rate notes final ‘AA-’ rating
      166 11  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore FITCH Ratings has assigned Oversea-Chinese Banking Corporation’s A$300 million floating rate notes due in 2019 a final rating of “AA-”. The notes were issued under OCBC’s US$10 billion global medium-term note programme. The rating comes
      166 words
    • Article
      Lock icon STI STOCKS
      321 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 251 -1 254/249 263 213 5.7 6346.2 CapitaLand 354 -3 359/352 371 268 13 2.5 *****.2 CapitaMall Trust 212 -2 215/212 226 186.5 5.1 7354.3 CityDev 1022 cd +13 1024/1010 1118 907
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    • Article
      Lock icon SGX ETFs Most Active
      110 12 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 341 +2 ***** 341/340 349/305 340/341 IS ASIA HYG US$ US1050 -9 296 1056/1050 1119/1013 1049/1050 Lyxor HSI US$ US302 -3 200 302/297 320/259 301/304 26.3 Nikko AM STI ETF 345 75 347/345 422/311
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    • Article
      Lock icon SIBOR
      31 12 Mar 6 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) (SS) 1 mth 0.***** Source: Thomson Reuters
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 12 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 5 3 0 0 0 7 5 3 Manufacturing 45 49 43 6 10 10 51 59 53 Commerce 30 16 11 4 4 5 34 20 16 Tpt/Stor/Comms 11 14 13
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      775 12 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Mar 2 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) G.K. Goh Hldgs 05-Mar-15 GKG Investment Hldgs Buy 81 0.94 *****9 58.62 *****0 58.65 G.K. Goh Hldgs
      775 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 12 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 35,999 35,999 67,458 67,458 Manufacturing 142,985 35,810 178,795 95,745 4,307 100,052 Commerce 113,600 16,287 129,887 124,323 737 125,060 Tpt/Stor/Comms 83,527 125 83,652 194,828 33 194,860 Finance 22,721 85 22,806 170,315 18 170,333 Construction 51,615 6,530
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 12 Mar 6 VALUE CLOSE BT OB/OS -335.00 -106.00 BT CADI -*****.00 -14.00 BT 10-day MA -*****.00 -34.00 FTSE ST Mid Cap 784.16 +1.68 FTSE ST Small Cap 485.03 -1.85 FTSE ST All Share 820.25 +4.24 FTSE ST China Top 191.82 -0.15 FTSE ST China 235.45 +0.77 FTSE
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    • Article
      Lock icon UNUSUAL ACTIVITY
      84 12 VOL CLOSE($) CHANGE Spackman 18,928.1 0.147 +0.041 +38.68 LH 3,000.1 0.004 +0.001 +33.33 China Auto Elec 1,269.0 0.075 +0.015 +25.00 Luzhou Bio-Chem 115.1 0.020 -0.009 -31.03 Moya Asia 14,581.8 0.044 -0.005 -10.20 China Oilfield 1,317.1 0.006 +0.001 +20.00 ICP Ltd 14,044.0 0.008 -0.001 -11.11 Serial System 9,830.0 0.171
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    • Article
      Lock icon COMMODITY FUTURES
      193 13 Mar-5 Price Net change change Last Trade Agricultural Mar-5 CBOT Soybeans (US cents/bu) 979.25 -9.75 -0.99% 13/03/2015 CBOT Soybean Oil (US cents/lb) 31.43 -0.60 -1.87% 13/03/2015 CBOT Wheat (US cents/bu) 481.25 -12.25 -2.48% 13/03/2014 Mar-5 LIFFE Cocoa (£/tonne) 2051.00 0.00 0.00% 16/03/2015 LIFFE Coffee (US$/tonne) 1840.00 6.00 0.33%
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    • Article
      Lock icon PALM OIL
      57 13 Mar 6 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Mar 15 2335.0 2312.0 2335.0 2260.0 473 1778 Apr 15 2316.0 2291.0 2316.0 2261.0 2283 ***** May 15 2304.0 2288.0 2307.0 2257.0 ***** ***** Jun 15 2283.0 2269.0
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    • Article
      Lock icon GOVERNMENT SECURITIES
      84 13 Mar 6 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 1-Year BY*****H 01-Nov-15 0.86 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.54 102.59 102.52 5-Year N*****0H 1.625 01-Oct-19 99.43 99.45 99.45 10-Year NY*****H 3.000 01-Sep-24
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 13 Mar 6 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0677 1.0685 0.7795 0.7799 Canadian dollar 1.0964 1.0970 0.8007 0.8004 Euro 1.5091 1.5099 1.1018 1.1021 NZ dollar 1.0225 1.0234 0.7465 0.7470 Sterling pound 2.0859 2.0869 1.5229 1.5233
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    • Article
      Lock icon BONDS, WARRANTS, PREFERENCE SHARES
      209 13 Most active Mar 6 Prem Expiry Last Vol Conv Exer Disc Gear-Mths Company Sale +or-('000) Ratio Price ing Left DBS MB eCW*****0 11.3 0.9 5582 0.2 1980 1 OCBC Bk MB eCW*****3 10.3 unch 4319 0.2 1050 5 GRP Ltd W*****7 0.9 -0.2 3999 1 8
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT’L INDICES
      373 13 In local curr In S$ In US$ dy yr dy yr dy yr Mar 5 Index Change Change Change Change Change Change World Preliminary 1340.3 0.3 5.1 0.4 6.8 0.2 3.2 EAFE Preliminary 1079.1 0.6 9.3 0.5 8.7 0.2 5.1 Europe Preliminary 1524.5 0.8 10.3
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    • Article, Illustration
      Lock icon STOCK MARKETS
      2 13
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    • Article
      Lock icon 1MDB to submit IPO plan for energy unit
      605 14 It is seeking to raise as much as US$3 billion from domestic share sale: sources Bloomberg Kuala Lumpur 1Malaysia Development Bhd, set up by the government five years ago to build infrastructure, is preparing to submit an initial public offering application for
      Bloomberg  -  605 words
    • Article, Illustration
      Lock icon ECB stimulus may promote buyback boom, not growth
      679 14 Reuters London EUROPEAN companies are likely to join a boom in share buybacks as central bank cash floods the economy, risking criticism that they are recycling capital rather than investing to promote growth. European firms are already cheering financial markets by increasingly
      Reuters; PHOTO: REUTERS  -  679 words
    • Briefing
      • Article
        Lock icon KLW acquires another property in Melbourne
        78 14 DOOR-MAKER KLW Holdings said it plans to acquire a five-storey property in Melbourne, Victoria, Australia for A$12.5 million (S$13.3 million) to be funded through internal resources and debt. This marks a continuation of the firm’s foray into the real estate business, following an acquisition
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      • Article
        Lock icon Blumont and Celsius Coal terminate deal
        79 14 Blumont Group, through a deed with Celsius Coal, has terminated the investment agreement to subscribe to some 8.7 per cent in the Australia-list-ed mining firm. It has also terminated a convertible note deed under which Blumont has advanced A$3.5 million and US$300,000 to Celsius.
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  • Page 14 Advertisements
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      28 14 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
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Three large units at Marina Bay Residences sold at over S$3,000 psf
      619 15  -  The four-bedroom apartments are in a stack with views of the bay and the casino By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore THREE units of four-bedroom apartments on the higher levels at Marina Bay Residences have changed hands in
      ST FILE PHOTO  -  619 words
    • Article
      Lock icon S’pore office rents up in 2014, but still among Asia-Pac’s lowest
      515 15  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore LEASING an office in Singapore’s central business district (CBD) grew costlier last year, but the local market remains one of the cheapest among major cities in the Asia-Pacific. Property consultancy Cushman Wakefield said
      515 words
    • Article
      Lock icon Househunt
      1055 16 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN JAN 21 AND JAN 27, 2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'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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      472 15 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF SUPER SEA CABLE (S) PTE. LTD. (IN CREDITORS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****4507H Extract of the minutes by corporate representative of Super Sea Cable Networks Pte. Ltd. relating to the proceedings of subsidiary company under
      472 words
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  • BANKING & FINANCE
    • Article
      Lock icon China cuts top exec pay at banks, state firms
      601 17 Bank bosses’ salary pegged at 600,000 yuan a year in move to close income gap: sources Bloomberg Shanghai CHINA has cut pay for top executives at its biggest banks and some other state-owned companies as part of efforts to combat inequality,
      Bloomberg  -  601 words
    • Article, Illustration
      Lock icon Mobile money still has some way to go for the unbanked
      765 17 Reuters Singapore GLOBALLY, an estimated 2.5 billion people don’t have a bank account, but many own a cellphone, fuelling a race to turn these phones into bank books for the unbanked to store cash, manage their accounts, make purchases
      Reuters; PHOTO: REUTERS  -  765 words
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Hit by low prices, US drillers keep oil underground
      871 18 Traders buy oil in oversupplied market and save it to lock in profits at higher prices later Bloomberg Houston OIL drillers in the United States expecting prices to rebound after the biggest drop in six years have come up with an
      Bloomberg; PHOTO: AFP  -  871 words
    • Article
      Lock icon EU looks to Spain, Portugal to reduce energy dependence
      541 18 AFP Madrid THE EU took a step on Wednesday to reduce its energy dependence, especially on Russia, seeking instead to improve connections between renewable energy giants Spain and Portugal, and the rest of Europe. At a summit, the leaders of Spain,
      AFP  -  541 words
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  • TECHNOLOGY
    • Article, Illustration
      Lock icon Biotech keeps rising as investors worry end is coming
      830 19 Huge IPOs, valuations for firms that don’t yet have a single drug for sale are driving boom Bloomberg New York BIOTECH’S days of unfettered optimism may be numbered. Since 2011, money has flowed almost non-stop into the industry as investors buy
      Bloomberg; FILE PHOTO  -  830 words
    • Article
      Lock icon Some banks change Apple Pay process after fraud
      410 19 Bloomberg Portland SOME banks have begun to make changes in how they activate customers’ credit-card accounts to use Apple Inc’s new mobile-payment system after reports of fraudulent transactions, according to industry consultants. The effort is an attempt to thwart criminals who have
      Bloomberg  -  410 words
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  • CONSUMER
    • Article
      Lock icon Russian online retailer rides out storm
      746 20 Ulmart turned adversity into advantage by developing its own logistics system AFP Moscow RUSSIAN retailers are being hit by consumers’ loss of purchasing power, but Ulmart, the country’s version of Amazon, expects to strengthen its position as people begin to count every kopeck. “We
      AFP  -  746 words
    • Article, Illustration
      Lock icon Germans’ budding holiday romance with... Greece
      609 20 AFP Berlin GERMAN holidaymakers are increasingly flocking to Greece, leaving the acrimonious wrangling between the two capitals over Athens’ debt mountain, halting reforms or fears of a “Grexit” to the politicians. “Little by little, people do realise that politics has nothing to do with
      AFP; PHOTO: AFP  -  609 words
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  • TRANSPORT
    • Article, Illustration
      Lock icon Title of world’s biggest vessel shifts as rates fall
      781 21 Samsung Heavy is building 4 ships capable of carrying 20,100 20-foot boxes for Mitsui OSK Bloomberg Singapore THIS is how much size matters in the shipping industry: bragging rights for the world’s largest container ship have changed hands four times in
      Bloomberg; PHOTO: BLOOMBERG  -  781 words
    • Article
      Lock icon Asia is most important destination for American Air’s CEO
      650 21 Bloomberg Dallas ONE year after American Airlines merged with US Airways, chief executive officer Doug Parker has settled on his most important destination: Asia. American is playing catch-up with United Continental and Delta Air Lines in the growing market for air
      Bloomberg  -  650 words
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  • GOVERNMENT & ECONOMY
    • Article
      Lock icon German industrial output surprises with 0.6% Jan rise
      179 22 AFP Berlin GERMAN industrial production grew more than expected in January while the figure for December was corrected sharply upward, data showed on Friday. According to regular data compiled by the economy ministry, factory output increased one per cent in December corrected
      AFP  -  179 words
    • Article, Illustration
      Lock icon Greece seeks to plug ‘Bermuda Triangle’ of lost taxes
      704 22 New govt hopes to raise money to pay off country’s massive debts by stamping out fuel, cigarette fraud AFP Athens IT COULD be a scene from a thriller: a ghost ship abandoned in the crystal-clear bay of a Greek island, its
      AFP; PHOTO: AFP  -  704 words
    • Article, Illustration
      Lock icon China flags wider fiscal deficit as the economy cools
      537 23 The country’s economy is pressured by weak global recovery and domestic constraints: finance minister Reuters Beijing CHINA will pursue an expansionary fiscal policy this year to prevent its economy from stalling, Finance Minister Lou Jiwei said on Friday as he assured
      Reuters; PHOTO: REUTERS  -  537 words
    • Article, Illustration
      Lock icon German, Greek ministers set to clash
      582 24 Wolfgang Schaeuble and Panagiotis Lafazanis square up for bailout showdown AFP Athens THEY are both tough men of a certain age used to getting their way. In one corner stands Wolfgang Schaeuble, the dry 72-year-old German Finance Minister and self-appointed guardian of the European
      AFP; PHOTOS: AFP  -  582 words
    • Article
      Lock icon British drift to EU exit spooks investors as voters switch off
      630 24 Bloomberg London AS UK voters make up their minds before an election on May 7, the issue that matters to financial markets is one that’s barely troubling them. Opinion polls show that a referendum on leaving the European Union
      Bloomberg  -  630 words
    • Article
      Lock icon Russia’s exclusion from Swift a last-resort ‘nuclear weapon’: Poland
      353 24 AFP Warsaw EXCLUDING Russia from the Swift banking system would be a measure of last resort if the crisis in Ukraine escalates, the British and Polish foreign ministers said on Friday. “When it comes to sanctions, Swift is the nuclear weapon.
      AFP  -  353 words
    • Article, Illustration
      Lock icon French budget deal leads to discontent in Brussels
      833 25 Not punishing Paris for missing targets is a wrong signal to investors: officials Reuters Brussels FRANCE, Germany and the European Commission believe leaving Paris unpunished for persistently failing to curb its budget deficit was a wise compromise that bolsters the euro. But
      Reuters; PHOTO: AFP  -  833 words
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      56 22 HOT PROPERTY SPRINGLEAF SEMI-D 3552SF Face NS,Spacious 4+1.Near upcoming MRT, SLE/ CTE $3.Xm. POETS VILLAS CLUSTER 3/sty Semi-D 3251 sqft, 5+ study, greenery, pool/ gym ASHWOOD 3STY TERR 3280 1938 sf. 5 spacious rms. Walk to SAS/ MRT. $2M ono. LANDED PROPERTIES FOR SALE! Check out these properties and more
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      148 23 0 Discover the joy of reading The Straits Times c 'in vra r vt >\ v 7 -7^ Choose from 6 amazing gifts when you subscribe now! le °o Vo re Print Online Smartphone Tablet Lenovo TAB 2 A7-10 HTC RE Camera THE STRAITS TIMES See more gifts and subscribe
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  • OPINION
    • Article, Illustration
      Lock icon How men can succeed in the boardroom and the bedroom
      1223 26 / 27  -  Research shows that choreplay when fathers help out with household chores is just as important as foreplay. By Sheryl Sandberg and Adam Grant MARCH 8: INTERNATIONAL WOMEN’S DAY By By Sheryl Sandberg, Adam Grant Sheryl Sandberg is chief operating officer
      NYT; PHOTO: FREE IMAGES  -  1,223 words
    • Article
      Lock icon The colour of tax money
      791 26 / 27  -  By Loh Eng Kiat The writer is a tax partner from Baker Tilly TFW THE big buzz on the Internet and beyond last weekend around the colour of that (now famous) dress had me thinking: One can actually draw parallels between the optical illusion and
      791 words
  • Page 26 / 27 Miscellaneous
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Pension funds trail individuals in embracing index funds
        1336 28 / 29  -  Bigger institutions rely on managers who charge higher fees but promise better returns through alternative investments. By Randall Smith By Randall Smith NYT MORE individuals are pouring money into so-called passive investing or index funds, which aim to match the performance of
        NYT; PHOTO: AFP  -  1,336 words
      • BROKERS’ TAKE
        • Article
          Lock icon First Resources
          89 28 / 29 Buy UOB Kay Hian March 6 Close: S$ 1.905 Target price: S$2.80 We recently hosted meetings with First Resources’ (FR) CEO Ciliandra Fangiono with fund managers in Malaysia. Questions raised focus on CPO (crude palm oil) price outlook, the biodiesel programme in Indonesia, the slowdown in FR’s new
          89 words
        • Article
          Lock icon Sarine Technologies
          100 28 / 29 Buy Maybank Kim Eng Research March 6 Close: S$2.85 Target price: S$3.13 We hosted an NDR (non-deal roadshow) for Sarine’s executive chairman and CFO in Singapore on March 4. Investors zoomed in on four areas: 1) liquidity for Indian manufacturers; 2) Galaxy-related sales; 3) Sarine Light/Loupe/Profile’s development; and
          100 words
        • Article
          Lock icon Frasers Centrepoint Trust
          129 28 / 29  -  Compiled by Kenneth Lim Buy OCBC Investment Research March 6 Close: S$2.04 Target price: S$2.27 During Q1 FY15, FCT (Frasers Centrepoint Trust) managed to deliver a healthy year-on-year boost in its revenue and dividend per unit by 18.3 per cent and 10.0 per cent, respectively. For the
          129 words
      • Article, Illustration
        Lock icon A changed Nasdaq climbs back to 5,000
        1207 30 The index itself had been transformed by innovation and competition to hit its previous peak 15 years ago NYT New York THAT the Nasdaq composite index closed over 5,000 this week for the first time in 15 years is not just a reminder
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon Floyd-Manny megafight won’t halt sport’s decline
      646 31 Lack of new stars, new genres, poor regulation a body blow to boxing Reuters Toronto THE superfight between Floyd Mayweather Jr and Manny Pacquiao is expected to be the highest grossing bout in history but will do nothing to resuscitate a sport that has
      Reuters; PHOTO: AFP  -  646 words
    • Article, Illustration
      Lock icon Star Wars actor injured in small-plane crash in LA
      302 31 Reuters Los Angeles FILM star Harrison Ford was injured on Thursday when the Star Wars actor crashed his vintage plane on a Los Angeles golf course shortly after taking off from a nearby airport, his publicist said. The single-engine plane clipped
      Reuters; PHOTO: REUTERS  -  302 words
  • Page 31 Miscellaneous
    • Miscellaneous
      Lock icon Page 31 Miscellaneous Column 1
      335 31 CRYPTIC CROSSWORD Across 1 Head of state’s opportunity with voting register from the East (10) 6 Tax whisky, not the Church (4) 10 Indian, for example, once a drunk (5) 11 Mostly peach and a soft fruit go missing (9) 12 Hesitates daughter is crossing the river (7) 13 Guarantees
      335 words
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      140 32 MOVEM32 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE VALLÉE DE JOUX. FOR MILLENNIA A HARSH, UNYIELDING ENVIRONMENT; AND SINCE 1875 THE HOME OF AUDEMARS PIGUET, IN THE VILLAGE OF LE B R A S S U S T H E E A R LY WAT C H
      140 words
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      70 1 LivingBTTHE BUSINESS TIMES WEEKEND MARCH 7-8 2015 BEEFED UP As Singaporeans’ tastes grow more exacting and expectations increase, several gourmet meat grocers have risen to the challenge. L2-5 PHOTO BY YEN MENG JIIN TRAVEL Splendour of Spain L8-9 MOTORING Van heaven the Toyota Vellfire and Alphard L14 DINING David Thompson
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  • Living
    • DINING
      • Article, Illustration
        Lock icon BEEFED UP
        631 2 / 3  -  As Singaporeans’ tastes grow more exacting and expectations increase, several gourmet meat grocers have risen to the challenge. By Rachel Loi By Rachel Loi rachloi@sph.com.sg ANGUS, wagyu, Kobe, shirobuta, kurobuta, iberico. In 1994, people might well have thought them to be exotic holiday destinations. Such was the knowledge
        PHOTOS: YEN MENG JIIN  -  631 words
      • Article, Illustration
        Lock icon Japanese produce
        692 2 / 3 Ethan’s Gourmet Foods 50 Tagore Lane, #B1-01 Entrepreneur Centre Z6372-8809 www.ethansgourmet.com Open Tue to Sun, 11am-7pm. Closed on Mon popping up in just the last few months alone Ethan’s Gourmet Foods which at the moment focuses on Japanese produce, a butchery at Tanjong Katong called Meat Collective, and
        692 words
      • Article, Illustration
        Lock icon An appetite for barbecue
        528 4 / 5 Stoke http://stoke.sg hello@stoke.sg IF your idea of barbecues still revolves around hot dogs and chicken wings, it’s about time to raise the bar. At least that’s what Chris Vethaviyasar and Ruth See would like you to do with their gourmet barbecue meat parcels. Their new online
        528 words
      • Article, Illustration
        Lock icon Southern-style smoke house
        542 4 / 5 Meat Smith 167-169 Telok Ayer StZ6221-2262 Open Mon to Sat, 11.45am-2pm, 5.30pm-11pm. Closed on Sun CHEF Andrew Baldus has worked in all sorts of restaurants before Mediterranean, French, and even a Japanese ramen shop that he opened with a friend. Now, the 30-year-old from Nebraska is embarking
        542 words
      • Article, Illustration
        Lock icon High quality at accessible prices
        537 4 / 5 Meat Collective 342 Tanjong Katong RoadZ6348-6339 Open Tue to Sat, 10am-8pm; Sun, 10am-6pm. Closed on Mon enquiries@meatcollective.com.sg FEEL like having a piece of steak without the hassle of cooking and cleaning, or putting on pants and going to a nice steakhouse? Then perhaps you might
        537 words
      • Article
        Lock icon wine&dine with BTWeekend
        894 4 / 5 Peach Blossoms Marina Mandarin Singapore, Level 5 6 Raffles Boulevard Z6845-1018 A Taste of Spring in Steamboat Steamboat has never been better with a delectable spread of fresh seafood and exquisite ingredients. Enjoy the Spring celebrations with family and friends over Chinese New Year steamboat with Lobsters,
        894 words
      • Article, Illustration
        Lock icon Back to the streets
        1113 6  -  David Thompson brings the unadulterated flavours of Thailand to Long Chim, his long-awaited Singapore flagship and his first venture outside Thailand. By Jaime Ee By Jaime Ee jaime@sph.com.sg DAVID Thompson is obsessed with a photo of Whoopi Goldberg. Lying in a tub of milk, photographed by
        PHOTOS: LONG CHIM  -  1,113 words
      • Article, Illustration
        Lock icon Progressive Indian cuisine
        1435 7  -  Gaggan Anand takes traditional Indian food and elevates it to the avant garde. guest chef By Tay Suan Chiang taysc@sph.com.sg @TaySuanChiangBT WHEN in a different city, it makes sense for visitors to eat local. Going to Bangkok for Indian food doesn’t sound quite right, but judging from
        1,435 words
    • TRAVEL
      • Article, Illustration
        Lock icon Splendour of Spain
        1380 8 / 9  -  With their ancient legacy and lavish cathedrals and mosques, Seville and Cordoba in southern Spain are foolproof vacation spots. By Helmi Yusof By Helmi Yusof helmi@sph.com.sg @HelmiBT THEY kiss everywhere in Seville. Turn the corner and you almost collide with a kissing couple. Walk through a narrow
        PHOTO OF CORDOBA: RENEGADE PHOTOGRAPHY. PHOTO OF MEZQUITA: HELMI YUSOF; PHOTOS OF PLAZA DE ESPANA AND FLAMENCO DANCER RENEGADE PHOTOGRAPHY; OF REAL ALCAZAR; HELMI YUSOF  -  1,380 words
    • HOME & GARDEN
      • Article, Illustration
        Lock icon TWO-IN-ONE
        972 10 / 11  -  A terrace house in Joo Chiat doubles as a home and office for its wedding stylist-cum-florist owner. By Tay Suan Chiang personal space By Tay Suan Chiang taysc@sph.com.sg @TaySuanChiangBT STEP into Eunice Yeo’s home and you’ll notice something odd. On the shelves are cake stands in different colours, and
        PHOTOS: YEN MENG JIIN  -  972 words
    • WATCHES
      • Article, Illustration
        Lock icon BIG HIT
        770 12  -  Officine Panerai’s most successful boutique in Hong Kong is also now the brand’s biggest in the world after it has been given a face-lift by architect-designer, Patricia Urquiola. By Dylan Tan By Dylan Tan dylantan@sph.com.sg @DylanTanSYBT AS the old adage goes, if it ain’t broke, don’t fix it.
        770 words
    • HEALTH
      • Article, Illustration
        Lock icon It’s not ‘all in the mind’
        1239 13  -  Some patients have no significant blockage of their heart arteries upon testing, and yet continue to be troubled by symptoms typical of angina. Recent studies suggest that such signs shouldn’t be ignored Michael Lim ~Dr Lim is the medical director at Singapore Heart, Stroke
        PHOTO: FREEIMAGES  -  1,239 words
    • MOTORING
      • Article, Illustration
        Lock icon VAN HEAVEN
        671 14  -  The new Toyota Vellfire will finally be available here as an official import. By Samuel Ee samuelee@sph.com.sg TYCOONS and tai-tais alike rejoice the Toyota Vellfire will soon be available from authorised distributor Borneo Motors Singapore (BMS). he Vellfire is a full-sized multi-pur-pose van and it shares the same
        671 words
      • Article, Illustration
        Lock icon Bubble-wrapped Citroen
        621 15  -  The cool Citroen Cactus comes with novel side impact protection. By Samuel Ee samuelee@sph.com.sg WITH a name like Cactus, one would expect something prickly or poky-looking from Citroen. Or at least remotely plant-like. But, on the contrary, the Citroen C4 Cactus is a cuddly crossover that is very
        621 words
    • GOLF
      • Article, Illustration
        Lock icon Spanish flavour at the top
        607 16  -  After the second round, Carlota Ciganda and Azahara Munoz are first and third respectively. 2015 HSBC WOMEN’S CHAMPIONS By Justine Moss THIS week, 60 of the best professional women’s golfers, in addition to three sponsor invites, are competing on the challenging Serapong course at Sentosa
        PHOTOS: HSBC GETTY IMAGES  -  607 words
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      265 10 / 11 »SS«' s SANDS EXPO AND CONVENTION CENTER MARINA BAY SANDS SINGAPORE Qr LU I—s K ,0.v il C_L 8 n w 7J i v K «r 4 With: Ibrahim Jaya 161 Marc Dardenne, David Landart, Grace Wang, Javier Serrano, Eloi Chafai B Jean-Francois Dingjian, Christophe Pillet, Lyndon Neri B Rossana
      265 words
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      31 13 This series is brought to you by Heart, Stroke and Cancer Centre. It is produced on alternate Saturdays. ~To read more of Dr Lim’s previous health-related articles, please visit: http://www.btinvest.com.sg/ specials/shscc
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      30 16 ~Tickets for this weekend’s play at Sentosa Golf Club are available from Sistic and are priced at S$30 for Saturday and Sunday. This does not include Sentosa island admission charges.
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