The Business Times, 24 March 2015

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Total Pages: 26
1 26 The Business Times
  • 22 1 THE BUSINESS TIMES S$1.00 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 Tuesday, March 24, 2015
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  • 27 1 Monday Change STI 3,410.13 -2.31 KL COMP 1,795.85 -7.80 NIKKEI 225 19,754.36 +194.14 HANG SENG 24,494.51 +119.27 SHENZHEN B 1,140.13 +3.94 Dow (noon EDT) 18,178.66 +51.01
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  • 1382 1  -  Tributes pour in from world leaders and citizens, from which emerged a portrait of a decisive leader who made the nation’s survival his life’s work By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE sombre news came four minutes after 4am on Monday, a time when most
    THE STRAITS TIMES FILE PHOTO BY GEORGE GASCON; BT Graphics  -  1,382 words
  • 849 1 EDITORIAL THE tributes and condolences streamed in all day, after the passing, on early Monday morning, of Singapore’s first prime minister and founding father Lee Kuan Yew. They are still pouring in at the time of writing. They come
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  • Page 1 Advertisements

  • LEE KUAN YEW 1923 – 2015
    • 2239 2  -  His extraordinary vision and lifelong commitment to Singapore’s well-being won Lee Kuan Yew a place in the hearts of his countrymen.BY countrymen.BY ANNA TEO WHEN Lee Kuan Yew stepped down from the Cabinet in May 2011 in the immediate aftermath of a general election,
      STRAITS TIMES FILE PHOTO; STRAITS TIMES FILE PHOTOS  -  2,239 words
    • 550 3 As the founding father of modern Singapore and its first Prime Minister from 1959 to 1990, Lee Kuan Yew led the island republic’s transformation from shanty backwater to bustling metropolis. But his influence and imprint on Singapore go well beyond his decades in office to just about
      BT Graphics: Hyrie Rahmat, Anna Teo, Simon Ang; Artwork created using AndreaMosaic  -  550 words
    • 926 4  -  Confidence remains in S’pore as a place for investment, its rule of law, strong infrastructure and open economy By Cai Haoxiang, Kelly Tay haoxiang@sph.com.sg kellytay@sph.com.sg @HaoxiangCaiBT @KellyTayBT Singapore SINGAPORE markets reacted with equanimity on Monday to the news that founding prime
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    • 1596 4 The death of Singapore’s founding prime minister prompted an outpouring of tributes, condolences and expressions of grief. Here are some of them, both from political and business leaders within Singapore and from abroad. Compiled by Joyce Hooi Many aspects of our lives bear Mr
      PHOTO: YEN MENG JIIN  -  1,596 words
    • 194 4 IA two-day private wake which began on Monday is being held at Sri Temasek in the Istana. IMr Lee’s coffin will be placed on a gun carriage on Wednesday and moved to Parliament House at 9am. IThe body will lie in state at Parliament House from
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  • TOP STORIES
    • 822 5  - Latest inflation report divides views on further Sing easing Core inflation, which guides MAS policy, rises to 1.3% in Feb even as headline inflation stays negative By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore SINGAPORE’S latest inflation numbers have left the market no clearer on how the central bank will move in
      Source: Department of Statistics  -  822 words
    • 569 5  -  Authorities here are in touch with their Malaysian counterparts on the matter By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore SINGAPORE authorities will back Malaysia’s high-profile probe into state-backed 1 Malaysia Development Berhad by providing assistance “within the full ambit” of its laws, said
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    • 618 5  -  By Fiona Lam fionalam@sph.com.sg Singapore BY June this year, small and medium enterprises (SMEs) in Singapore will be able to tap a total of 30 integrated solutions up from the current 12 through the Innovation and Capability Voucher (ICV) to raise productivity. As a
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    • 634 5 BLOOMBERG Riyadh OIL won’t rebound to US$100 a barrel because increased prices would draw more shale and other output from higher-cost producers to the market, said Mohammed al-Madi, Saudi Arabia’s governor to Opec. “It will be difficult to
      BLOOMBERG; PHOTO: REUTERS  -  634 words

  • Page 6 Advertisements
    • 3602 6 NamCheong NAM CHEONG LIMITED (Company Registration No.: *****) (Incorporated in Bermuda) (the “Company") NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the Annual General Meeting of Nam Cheong Limited (the “Company") will be held at Riverview Hotel, Lily Ballroom, Level 4, 382 Havelock Road, Singapore *****9 on Friday,
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    • 1938 6 United Industrial Corporation Limited (Incorporated in the Republic of Singapore) (Company Registration No. *****0181E) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 53rd Annual General Meeting of United Industrial Corporation Limited will be held at 80 Raffles Place,62nd Storey, UOB Plaza 1, Singapore *****4,on Friday,24 April 2015
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  • COMPANIES & MARKETS
    • 582 7  -  One is to develop an IT special economic zone in Bangalore and the other is to invest in European logistics properties By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore SINGAPORE sovereign wealth fund GIC announced two property investments on Monday one to develop an IT special economic
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    • 333 7  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore EQUATION Summit’s subsidiary DiSa Digital Safety Pte Ltd has inked a deal with China Tobacco Anhui Industrial Corporation to provide its patented anti-counterfeiting solution to the Hefei-based cigarette manufacturer. The technology allows the identification of counterfeit
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    • 193 7 REUTERS London COMPANIES could issue a record US$30 billion in so-called “green bonds” this year, but further growth in the market will depend on developments in China and common standards, Standard Poor’s Rating Services said on Monday. Proceeds from green bonds
      REUTERS  -  193 words
    • 630 8  -  It acts against ex-Noble credit analyst and a firm which registered iceberg site By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore NOBLE Group has thrown a legal punch back at the parties that it says have been waging a month-long campaign to accuse the
      Source: ShareInvestor.com, Iceberg Research, Noble Group  -  630 words
    • 304 8  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore OBSCURE outfit Iceberg Research said in its third report on Noble Group that this is not the first time that it is acting as a whistleblower against the commodities trader. Referring to the
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    • 329 8  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore ROXY-Pacific Holdings has picked up its fourth investment in Australia, a 4.4-hectare land parcel comprising two adjacent properties in North Fremantle, near Perth. The A$59 million (S$63 million) acquisition was undertaken with its joint-venture partner Hostplus, an
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    • 320 8  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore REX International Holding’s joint-ly-controlled entity, Lime Petroleum Norway AS (Lime Norway), has secured an increase of its financing facility from 300 million Norwegian kroner (S$52 million) to 700 million kroner to fund its participation
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    • Article, Illustration
      62 10 STI Catalist Straits Times Index March 23,2015 3,410.13 -2.31 (-0.07%) Current streak 1 day Day high 3,430.32 Day low 3,409.42 52-week high 3,444.57 (Feb 11,2015) 52-week low 3,104.17 (Mar 25, 2014) FTSE ST Catalist index March 23,2015 661.60 -4.64 (-0.70%) Current streak 1 day Day high 670.91 Day low 661.17
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    • 646 10  -  Noble bounces, probably due to its rebuttal of Iceberg’s claims and announcement of legal action STOCKS By H Sivanithy sivan@sph.com.sg @RSivanithyBT THERE were no surprises in Monday’s session at Singapore Exchange, with the Straits Times index (STI) first rising 18 points
      Source: Bloomberg  -  646 words
    • 317 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 259 -1 259/255 263 215 5.5 6548.4 CapitaLand 352 unch 356/352 371 274 12.9 2.6 *****.8 CapitaMall Trust 216 +1 220/214 226 187.5 5 7493.1 CityDev 1015 cd +6 1020/1010 1118 915
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    • 33 10 VOLUME Noble 68,052,400 IHC 45,770,900 SIIC Environment 44,459,000 APAC Strategic 25,942,700 Biosensors 24,755,300 Market volume 1,215,036,000 VALUE SingTel 79,002,335 DBS Grp 76,908,490 Noble 61,644,226 UOB 61,033,878 CapitaLand 32,503,054 Market value 971,694,000
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    • 77 10 Mar 23 VALUE CLOSE BT OB/OS -557.00 +136.00 BT CADI -*****.00 +14.00 BT 10-day MA -*****.00 -56.00 FTSE ST Mid Cap 773.60 +3.47 FTSE ST Small Cap 475.76 +2.09 FTSE ST All Share 816.09 +0.35 FTSE ST China Top 190.72 +0.89 FTSE ST China 232.06 -0.84 FTSE
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    • 77 10 BY CENTS CLOSE UP 52w high/low Lyxor Indonesia US$ 9093 175.0 1.4 9636/8507 DBXT MSJAP US$ 5099 165.4 2.4 5108/4260 DBXT MSEurope US$ 5933 141.9 1.8 6492/5366 GLD US$ ***** 106.1 0.7 *****/***** DBXT MSKorea US$ 5805 59.3 0.7 6735/5484 BY PERCENTAGE CLOSE UP 52w high/low CN9600MBeCW*****0 52 108.0
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    • 34 10 STI FTSE ST All-Share ftse ST All-Share index March 23,2015 816.09 +0.35 (+0.04%) Current streak 3 days Day high 819.41 Day low 815.39 52-week high 827.11 (Feb 11,2015) 52-week low 754.98 (Mar 25, 2014)
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    • 33 10 STI MSCI EAFE MSCI EAFE index March 20,2015 1,887.31 +36.30 (+1.96%) Current streak 3 days Day high 1,895.91 Day low 1,853.04 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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    • 186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 3 8 0 0 0 4 3 8 Manufacturing 45 52 30 8 6 10 53 58 40 Commerce 16 21 18 3 5 6 19 26 24 Tpt/Stor/Comms 15 13 10
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    • 75 10 BY CENTS CLOSE DOWN 52w high/low JMH USD 6235 -75.8 -0.9 6788/5700 DBXT Vietam US$ 2505 -48.2 -1.4 3100/2403 Jardine C&C 4063 -37.0 -0.9 4901/3850 Lyxor ChinaH US$ 1660 -13.8 -0.6 1700/1263 DBXT MSTHAI US$ 2071 -11.0 -0.4 2225/1818 BY PERCENTAGE CLOSE DOWN 52w high/low Centurion W*****7 3.2 -59.0
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    • 81 10 VOL CLOSE($) CHANGE China Haida 842.1 0.017 -0.009 -34.62 Advanced Systems 1,660.0 0.004 +0.001 +33.33 M Development 2,075.0 0.005 -0.001 -16.67 MoneyMax Fin 139.0 0.230 +0.030 +15.00 Hosen 465.0 0.058 -0.002 -3.33 Ziwo 207.0 0.039 -0.010 -20.41 China Oilfield^ 400.0 0.003 +0.001 +50.00 Foreland FabriT 408.0 0.006 -0.003
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    • BROKERS’ TAKE
      • 97 10 Hold March 23 close: S$0.91 Target price: S$0.96 Maybank Kim Eng Research, March 23 IN our view, asset impairments and commodity price weakness are valid anxieties. On the other hand, fair-value accounting and refinancing fears seem overdone. In its third issue on Saturday, Iceberg accused Noble of understating
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      • 99 10 Buy March 23 close: S$0.53 Target price: S$0.75 RHB Research Institute Singapore, March 23 CENTURION announced that it has deferred the proposed real estate investment trust (Reit) transaction to a later stage as Singapore Exchange deems it a chain listing, whereby the assets to be injected make up
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      • 85 10 Hold March 23 close: US$0.35 Target price: US$0.38 UOB Kay Hian Research, March 23 GENTING Hong Kong’s 2014 results disappointed at Star Cruises and Travellers International (RWM). Industry trends (rising competition in the Asian cruise market, slowing Chinese gambling spend and rising competition in Manila integrated resort
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      • 157 10  -  Compiled by Cai Haoxiang Accept offer March 23 close: S$4.56 OCBC Investment Research, March 23 WHILE we are only four days away from the deadline, we continue to judge it more likely than not that KepLand will eventually be privatised. Our main recommendation is for Keppel Land shareholders
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    • 109 10 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap DBXT MSAsExJp US$ US3608 249 -/-3808/2802 3669/3681 8.3 Nikko AM STI ETF 347 -1 196 348/347 422/318 346/347 8.4 UETF SSE50China 259 +4 148 260/257 260/140 258/260 80.9 DBXT CSI300 US$ US1102 +12 105 1102/1090 1102/615
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    • 120 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 10,140 10,140 33,319 33,319 Manufacturing 165,074 40,588 205,662 77,639 5,276 82,915 Commerce 101,684 35,575 137,259 98,507 1,274 99,780 Tpt/Stor/Comms 92,202 92,202 163,276 163,276 Finance 17,186 354 17,540 194,476 74 194,550 Construction 48,301 8,780 57,081 18,735
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    • 396 11 CURRENCIES AFP Tokyo THE euro inched lower on Monday ahead of more talks aimed at solving Greece’s debt crisis, as investors eye a slate of speeches by Federal Reserve officials for further clues about the timing of an interest rate hike. The single
      AFP  -  396 words
    • FOREX RATES
      • 470 11 Mar23 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.980 4.830 0.721 6.031 48.448 101.289 0.934 8.668 2.871 1.024 79.239 34.831 1.072 9.411 0.761 24.464 25.316 0.523 0.778 Canada 1.021 4.930 0.736
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      • 155 11 Mar 23 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0712 1.0729 0.7773 0.7780 Canadian dollar 1.0938 1.0951 0.7941 0.7937 Euro 1.4871 1.4883 1.0791 1.0792 NZ dollar 1.0457 1.0473 0.7588 0.7594 Sterling pound 2.0502 2.0522 1.4877 1.4881
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      • 21 11 Mar23 S$ Bid Offer 1-month 1.3793 1.3806 2-months 1.3807 1.3820 3-months 1.3819 1.3833 6-months 1.3849 1.3865 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • 359 11 Mar 23 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.98 *****.60 *****.73 Jun15 *****.00 *****.00 *****.00 *****.00 ***** *****2 Sep15 *****.00 0 143 MSCI TAIWAN INDEX FUTURES SPOT 362.09 362.81 360.56 Mar15 360.70 362.60 359.90 361.10 ***** *****7 Apr15 361.30 363.00 360.40 361.40
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      • 206 11 Mar 23 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****5 16.9 0.2 7743 0.1 2050 6 Rowsley Ltd W*****3 2.3 -0.1 4795 1 18 19 OCBC Bk MB eCW*****3 9.7 unch 4297 0.2 1050
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      • 373 11 In local curr In S$ In US$ dy yr dy yr dy yr Mar 20 Index Change Change Change Change Change Change World Preliminary 1356.3 0.9 6.3 0.8 8.3 1.4 3.9 EAFE Preliminary 1106.3 0.7 12.1 1.4 10.9 2.0 6.3 Europe Preliminary 1561.8 1.0 13.0
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    • BANK RATES
      • 154 11 Mar 23 $S Offer Bid 0vernight 0.30 0.20 1-month 0.875 0.75 2-months 0.9375 0.8125 3-months 1.0625 1.0 Overnight mode: 0.25 US$ 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 0.60 0.40 9 months 0.70 0.50 12
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      • 36 11 Mar 23 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 1.***** 9 mths 12 mths 1.***** SWAP Offer rates (S$) 1 mth 0.***** 3 mths 1.***** 6 mths 1.***** Source: Thomson Reuters
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      • 65 11 Mar 23 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.1 102.20 102.13 5-Year N*****0H 1.625 01-Oct-19 98.64 98.86 98.65 10-Year NY*****H 3.000 01-Sep-24 104.6 104.85 104.49 15-Year NY*****E 2.875 01-Jul-29 102.03 20-Year NZ*****V 3.375 01-Sep-33 107.41 107.30 107.30
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    • AGRI METALS ENERGY
      • 249 11 Mar-20 Price Net change change Last Trade Agricultural Mar-20 CBOT Soybeans (US cents/bu) 973.75 12.00 1.25% 14/05/2015 CBOT Soybean Oil (US cents/lb) 30.68 0.06 0.20% 14/05/2015 CBOT Wheat (US cents/bu) 530.00 18.00 3.52% 14/05/2014 Mar-20 LIFFE Cocoa (£/tonne) 1945.00 22.00 1.14% 13/05/2015 LIFFE Coffee (US$/tonne) 1796.00 5.00 0.28%
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  • Page 7 Advertisements
    • 60 7 ONLINE SALE www.oaks.com.sg Wine, Whisky, Sake, Champagne, Life Style and Wine ACCeSSOrieS Over 500 products available Exceptional French-Chilean Wine! Almaviva 2010 RP-92pts Now: S$159.00 Usual: S$100.00 Now: S$168.00 Usual: S$198.00 Almaviva 2011 RP-93pts It'si I 'Discovery! The Oaks Cellars Pte Ltd OAT K s y 315 Outram Road #12-09 Tan
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    • 288 7 5 STAR AIRLINE SKYTRAX r\ ■S#r) y 4 V •V v» v r '-W VV" <_ Hi •V 1 ft .1 N V. 1 •V i J J **u; r- 6 i A A,' a 4a V M 4 Feel the tranquillity, the essence of comfort in our fully flat
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  • Page 8 Advertisements
    • 102 8 Discover Greener Pastures Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices CALLING ALL INTERIOR DESIGNERS! FEATURE YOUR PROJECTS IN HOME DECOR’S DESIGNER SHOWCASE! The perfect platform for design professionals to showcase their projects, and the definitive guide for homeowners looking for designers. Free with
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    • 57 8 R'feSi m^anmar Incorporating: Myanmar retail Urban and City Planning Conference 2015 Real Estate Show Myanmar 2015 29 June -1 July 2015 Yangon, Myanmar I n Your gateway to trends and investment opportunities in Myanmar's real estate Contact Jason at +65 6848 6051 or email jason@sphereconferences.com to find out about sponsorship
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    • 39 8 Hospitality Investment Conference Indian Ocean Maldives Mauritius Seychelles Sri Lanka 25-26 May 2015 Colombo, Sri Lanka A New Era 3* Contact Michelle at +65 6848 5374 or email Herat michelle@sphereconferences.com for sponsorship opportunities Organiser: sphere SINGAPORE PRESS HOLDINGS www.hicio.sphereconferences.com
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    • 57 8 HOT PROPERTY TUAS VIEW SQ. Sale/Rent. B1/B2/food warehse/office 6k-12k sf. Near future ports/ MRT. WESTECH@ PANDAN LOOP. 999 yrs LH. Best unit no/ location. F/fitted. Hurry! HENDERSON IND PK 2551 sf 1K sf reno office loft. 21ft ceiling hgt. Vacant possession. FACTORY SPACES FOR SALE! Check out these properties and
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  • REAL ESTATE
    • 523 12 US$870bfund has narrowed search to Singapore and Tokyo, possibly in office properties BLOOMBERG Oslo NORWAY’S wealth fund is making final preparations for its first Asian real estate investment as it builds a portfolio of properties in the world’s biggest cities.
      BLOOMBERG  -  523 words
    • 525 12 Beijing CHINA’S real estate companies are looking forward to having a slice of cake in a booming winter sports market that followed Beijing’s joint bid with neighbouring Zhangjiakou for the 2022 Winter Olympic Games. The past decade saw China’s winter
      525 words
    • 572 12 No funds spent on solar so far, says parent of most indebted Chinese developer BLOOMBERG Beijing EVERGRANDE Group, the parent of China’s most-indebted publicly traded homebuilder, scrapped its 90 billion yuan (S$20 billion) plan to branch out into solar power, stymieing
      BLOOMBERG  -  572 words
    • 558 13 Move due to lower funding costs, improved liquidity from monetary easing measures REUTERS Hong Kong CHINESE developers plan to eschew the offshore market and borrow more money onshore this year thanks to lower funding costs and improved liquidity on the back of government easing
      REUTERS  -  558 words
    • 219 13 REUTERS Bangkok A FINANCE ministry committee will review a draft law to introduce Thailand’s first tax on property in April, before the proposal is submitted for the general public’s scrutiny, Finance Minister Sommai Phasee said on Monday. The land and building
      REUTERS  -  219 words
    • 292 13 REUTERS Hong Kong STATE-BACKED property developer China Resources Land said the sector will continue to focus on clearing inventory this year amid a supply glut, but the company had set itself aggressive sales targets. Weakness in the property sector, which
      REUTERS  -  292 words
  • Page 12 Advertisements
    • 406 12 W* Knight VIGERS Frank mmm CEA Licence No.: L*****36J CEA Licence No.: L*****10E RESIDENTIAL BULK SALE AT EMERALD HILL ROAD F NGEEANN °nc Ht iA *o no Dr OmTd 21 residential units, Freehold Total Strata Area Approx. 62,829 sq ft Great views towards city Marina Bay Sands In the heart
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    • 266 12 Prime Commercial Shophouses Sago Street, Chinatown Charming 3-storey Conservation Shophouse LA: Approx. 1,115 sq ft, FA: est. 3,000 sq ft Approved for Backpackers’ Hostel and Cafe Amidst Chinatown Heritage Charm Opposite future MAXWELL MRT Station (TEL18) savills -2 South Bridge Road, Chinatown 2-storey Attic Conservation Shophouse LA: approx. 1,050 sq
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    • 71 12 EXCELLENTOPPORTUNITY LOYANG INDUSTRIAL ESTATE 2-storey high ceiling production with ancillary offices Land Area approx. 48,531.2 sqft Gross Floor Area approx. 22,034.6 sqft Lease Tenure 30+25 from 16 October 1998 2014 Master Plan Business 2, Plot Ratio 2.5 EOI Closing Date: 26 March 2015 (Thu), 3pm For further information and viewings,
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  • Page 13 Advertisements
    • 146 13 RARE BOAT QUAY SHOPHOUSES Coveted 999-year tenure Zoned “Commercial” No ABSD Approved for F&B use Excellent unobstructed view of the Singapore River Popular precinct for alfresco restaurants and pubs Near to Raffles Place and Clark Quay MRT stations 100% tenanted offering stable income 4 shophouse units Single shophouse Site Area:
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    • 330 13 or 3*is= "7< MORELLO EAST CROYDON STATION -yw*-. H RAINIER APARTMENTS EXHIBITION LAUNCH I? M SATURDAY 28 th SUNDAY 29 th MARCH 2015 (11am 7pm) Shangri-la Hotel Singapore Gardenia Room, Level 2 22 Orange Grove Road Singapore *****0 RAINIER APARTMENTS r V tf MORELLO I ■rj m m “TV ‘A
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  • BANKING & FINANCE
    • 751 14 Stringent requirements force global banks to pull back, draining away liquidity from CDS market REUTERS Hong Kong DEBT crises and heavy trading losses at some Asia-Pacific companies have exposed cracks in the region’s corporate debt market suggesting a regulatory push
      REUTERS; PHOTO: REUTERS  -  751 words
    • 287 14 REUTERS London THE Asian Development Bank (ADB) is stepping up efforts to assist member countries to use Islamic finance in areas such as infrastructure financing, ranging from technical assistance to providing credit guarantees, an ADB official has said. The Manila-based development lender sees
      REUTERS  -  287 words
    • 872 14 BLOOMBERG London IN the negative-yield vortex that is the European bond market, investors are discovering just what lengths they’re willing to go to generate returns. Norway’s US$870 billion sovereign wealth fund said this month that it added Nigeria and
      BLOOMBERG  -  872 words
  • Page 14 Advertisements
    • 1633 14 NOTICE OF ANNUAL GENERAL MEETING SABANA SHARI’AH COMPLIANT INDUSTRIAL REAL ESTATE INVESTMENT TRUST (a real estate investment trust constituted on 29 October 2010 under the laws of the Republic of Singapore) Managed by Sabana Real Estate Investment Management Pte. Ltd. (Company Registration No. *****5493K) NOTICE IS HEREBY GIVEN that the
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  • ENERGY & COMMODITIES
    • 643 15 Producers eye assets in South-east Asia, Eastern Europe, Africa to shift output abroad REUTERS Shanghai LADEN with debt and struggling to make money as the world’s No 2 economy loses momentum, China’s steel mills do not appear obvious candidates for overseas expansion. But the
      REUTERS; PHOTO: REUTERS  -  643 words
    • 630 15 BLOOMBERG Mumbai INDIA, the world’s largest importer of cooking oils, will buy more soya bean and sunflower oil this year than ever before as a global glut weakens prices and prompts buyers to switch from palm oil. Purchases
      BLOOMBERG  -  630 words
  • Page 15 Advertisements
    • 203 15 St'. •pay T 11J Li H I i St s r r* Recognizing opportunities is my passion. Responding to them well is the challenge. With our financing expertise your wealth has a voice. Let it be heard. Discover more at asia-weaLthmanagement.bnpparibas.com BNP PARIBAS WEALTH MANAGEMENT The bank for a changing
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  • TECHNOLOGY
    • 858 16 Half of firms that debuted in US last year trading below IPO prices; poor earnings undermine investor confidence BLOOMBERG New York JUST as the Nasdaq Composite Index surges to the cusp of the record high set during the dotcom era, the excitement
      BLOOMBERG  -  858 words
    • 785 16 BLOOMBERG New Delhi MICROMAX Informatics Ltd, the Indian smartphone maker threatening Samsung Electronics Co’s lead in the world’s second-largest market, plans to raise more capital to help it break away from foreign rivals. The company is considering outside investment to develop
      BLOOMBERG; PHOTO: BLOOMBERG  -  785 words
  • Page 16 Advertisements
    • 886 16 THE BUSINESS TIMES Ik 1 f 1 ✓"'I Toll free 1800-289-8822 I fl I Email notices@sph.com.sg 1 j www.sphclass.com.sg/notices SBS TRANSIT LTD (Incorporated in the Republic of Singapore) (Co. Reg. No.: *****6653M) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Twenty-Second Annual General Meeting of the Company
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    • 285 16 IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF SUNWAY MANAGEMENT SINGAPORE PRIVATE LIMITED (In Members’ Voluntary Liquidation) (Co. Reg. No. *****4981K) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act (Cap. 50) the Final Meeting of
      285 words
    • 14 16 Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices
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    • 13 16 Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices
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  • Page 17 Advertisements
    • 3080 17 Keppel Telecommunications Transportation Ltd Co Reg No: *****0115G (Incorporated in the Republic of Singapore) Notice of Annual General Meeting/Closure of Books ALL MEMBERS ARE CORDIALLY INVITED TO ATTEND the annual general meeting of Keppel Telecommunications Transportation Ltd (the “Company”) to be held at Raffles City Convention Centre, Atrium Ballroom, Level
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    • 17 17 Discover Greener Pastures Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices
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    • 107 17 HOTEL GRAND CENTRAL LIMITED (Incorporated in the Republic of Singapore) Company Registration No. *****0243H LOST SHARE CERTIFICATE Notice is hereby given that the following share certificate has been reported lost, destroyed or mislaid:Name Certificate No. No. of Shares Chan Chee Kong *****0 396 Notice is also hereby given that the
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  • CONSUMER
    • 731 18 Company has eye on drugs for Alzheimer’s, ALS; CEO to drive drug development for some hardest-to-treat diseases REUTERS New York BIOGEN IDEC Inc has seen its market value quadruple in three years to more than US$100 billion on the back of its successful multiple
      REUTERS; PHOTO: REUTERS  -  731 words
    • 683 18 Move into segment driven by demand from millennials market REUTERS London DRIVEN by the demands of a new plugged-in generation seeking “authentic” travel experiences with a local feel, the world’s biggest hoteliers are moving into a new sector in Europe the “lifestyle” boutique
      REUTERS  -  683 words
  • Page 18 Advertisements
    • 1723 18 The Business Times Ik I Toll free 1800-289-8822 I M I I Email notices@sph.com.sg I V i j L J www.sphclass.com.sg/notices TECHCOMP (HOLDINGS) LIMITED 天美控股有限公 (incorporated in Bermuda with limited liability) (Hong Kong Stock Code: 1298) (Singapore Stock Code: T43) NOTICE OF ANNUAL GENERAL
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    • 567 18 STATUTORY DECLARATION BY DIRECTOR OF SOON LOONG ENGINEERING CONSTRUCTION PTE. LTD. (Co. Reg. No. *****2156M) I, Foo Piow Swoon of 458 Pasir Ris Drive 4, #09-323, Singapore *****8 NRIC No. S*****87C make oath and say as follows: 1. I am a director of the abovenamed company. 2. The abovenamed company
      567 words

  • TRANSPORT
    • 353 19  -  Move meant to boost productivity and crew welfare for ships in Singapore’s port waters By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore SHIPS in Singapore’s port waters can now access high-speed broadband for up to 15 kilometres away from Singapore’s coastline,
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    • 588 19 BLOOMBERG Milan PIRELLI C SpA’s biggest shareholder has agreed to sell its stake to ChemChina in a deal that will lead to a takeover bid valuing the Italian tyremaker at about 7.1 billion euros (S$10.56 billion). State-owned ChemChina agreed to pay
      BLOOMBERG; PHOTO: REUTERS  -  588 words
    • 358 19 BLOOMBERG Singapore BOEING Co, the second-biggest US government defence contractor, expects South-east Asian demand for defence equipment to grow rapidly as economic growth enables them to boost purchases. “The South-east Asian market isn’t as large as other markets, but
      BLOOMBERG  -  358 words
    • 814 19 REUTERS Toronto CANADIAN National (CN) Railway’s safety record deteriorated sharply in 2014, reversing years of improvements, as accidents in Canada blamed on poor track conditions hit their highest level in more than five years, a Reuters analysis has found. Canada’s
      REUTERS  -  814 words
    • 545 19 BLOOMBERG New Delhi THE biggest surge in an airline stock in the world since mid-December faces risks from a fight over planes. The 63 per cent climb in India’s Spicejet Ltd from a December low, fuelled by its bailout from
      BLOOMBERG  -  545 words
    • 424 19 BLOOMBERG New York US regulators are looking into whether a recall last year by Nissan Motor Co, Japan’s second-largest automaker, failed to fix a flaw in the air-bag control systems on almost one million vehicles. The National Highway Traffic Safety Administration
      BLOOMBERG  -  424 words

  • GOVERNMENT & ECONOMY
    • 616 20 Prices that are rising faster than incomes and tight loan conditions among factors holding back purchases LATEST US DATA BLOOMBERG Washington SALES of previously owned homes fell short of a five million annual rate in February for a second month, showing an
      BLOOMBERG; PHOTO: AFP  -  616 words
    • 431 20 BLOOMBERG London CENTRAL bankers are realising that what happens abroad matters more than ever to inflation at home. In the past month, policymakers from Ottawa to London have used speeches to highlight how their local inflation rates may be driven
      BLOOMBERG  -  431 words
    • 388 20 BLOOMBERG Zurich THE Swiss National Bank (SNB) is considering a form of foreign currency quantitative easing, as suggested by the International Monetary Fund (IMF). “What the IMF is recommending is a kind of pre-announced asset purchase programme,” SNB Alternate Governing Board
      BLOOMBERG  -  388 words
    • 382 20 AFP REUTERS Frankfurt THE German economy, Europe’s biggest, will notch up “strong” growth in the first half of 2015, driven by robust exports and buoyant consumer spending, the German central bank or Bundesbank said on Monday. “The German economy, following surprisingly strong growth
      AFP; REUTERS  -  382 words
    • 364 20 REUTERS Tokyo JAPAN’S government upgraded its view on the overall economy for the first time in eight months on Monday, noting a moderate recovery trend as factory output is picking up on the back of improving corporate activity. In its
      REUTERS; PHOTO: AFP  -  364 words
    • 597 20 IMF’s Lagarde welcomes China’s creation of new infrastructure bank AFP Hong Kong INDONESIA will seek to host the Asian Infrastructure Investment Bank’s (AIIB) headquarters, the finance minister of South-east Asia’s largest economy said on Monday, though the new multilateral lender is
      AFP  -  597 words
    • 560 21 Overseas firms could be allowed to own majority stakes in local ventures as soon as this year BLOOMBERG Hong Kong CHINA is considering sweeping changes to its securities industry that would allow foreign banks to control their local joint ventures and broaden
      BLOOMBERG  -  560 words
    • 676 21 BLOOMBERG Tokyo THE Bank of Japan’s (BOJ) own researchers are undermining governor Haruhiko Kuroda’s view that the market is functioning fine as the central bank buys an unprecedented amount of debt. Some indicators suggest liquidity in Japanese government bonds is falling after
      BLOOMBERG  -  676 words
    • 809 21 BLOOMBERG Frankfurt MARIO Draghi pushed back against concerns that the European Central Bank’s quantitative easing (QE) plan will be hampered by a shortage of bonds available to buy. “We see no signs that there will not be enough bonds
      BLOOMBERG; PHOTO: BLOOMBERG  -  809 words
    • 880 21 BLOOMBERG Jakarta INDONESIA’S foreign-exchange reserves, the smallest in South-east Asia relative to economic output, are coming under scrutiny as the central bank starts to combat the rupiah’s slide to a 16-year low. “Indonesia is not in a comfortable range when
      BLOOMBERG; PHOTO: REUTERS  -  880 words


  • OPINION
    • 751 22  -  By Stefan Bielmeier T The writer, a member of the OMFIF advisory board, is global head of research and economics and chief economist at DZ bank THE European Central Bank (ECB) is well aware that, through its quantitative easing (QE) programme, it is taking
      751 words
    • 797 22  -  THE BOTTOM LINE By Frank Ching T The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter at: @FrankChing1 THE China-backed Asian Infrastructure investment Bank (AIIB) hasn’t opened its doors for business yet, but already it has strained relations between
      797 words
    • 1360 22  -  The key one is that utilities companies will continue losing the trust of consumers. Even Singapore’s PUB suffers this lack of trust, in that 3 to 4 in 10 households continue to boil their water. BY ASIT K BISWAS water.BY ASIT K BISWAS T
      PHOTO: REUTERS  -  1,360 words
    • 902 23  -  COMMENTARY By Anthony Rowley PEOPLE who are in a position to know have been saying loudly and clearly of late that we may be headed towards another global financial crisis. But it seems that these are “voices crying in the wilderness” and
      902 words
    • 742 23  -  By Peter Thal Larsen REUTERS BREAKINGVIEWS IF ANY country knows about the risks and rewards of building infrastructure, it is China. Over the past two decades, the People’s Republic has erected countless roads, dams, power plants, bridges and airports in its pursuit of economic development. The
      REUTERS BREAKINGVIEWS; PHOTO: REUTERS  -  742 words
    • 1078 23  -  Policymakers may or may not consider lessons of 1937 before deciding on rates, but the changing economic conditions could play a more important role in affecting their decision By Leon Hadar TAKE a look at the newspaper headlines reporting on the
      PHOTO: BLOOMBERG  -  1,078 words


  • 994 24 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville Hyundai Vladivostok 596E 25 Mar 19 Apr 06 May 10 May 11 May 12 May 16 May 17 May 20 May 20 May Hyundai
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  • Page 24 Advertisements
    • 178 24 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced shf p maintenance services wanted. Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 Spotlight Award Wins Recognition Come
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  • LIFE & CULTURE
    • 1049 25 They deliver three biggest Hollywood live-action openings of 2015, leaving young men far behind NYT Los Angeles HEADING into the all-important summer movie-going season, two converging box-office trends are startling studios: Women are driving ticket sales to a degree rarely, if ever,
      NYT; PHOTO: WALT DISNEY PICTURES  -  1,049 words
    • 598 25 AFP Monrovia THE people of Monrovia’s Peace Island ghetto, refugees of civil war who found themselves suddenly overwhelmed and outmanoeuvred by the deadly Ebola epidemic, are used to life under siege. Yet with Liberia emerging from the worst outbreak in history
      AFP; PHOTO: AFP  -  598 words
    • 1199 25 WP Sydney THERE’S a revolution under way in stroke care, and it’s not just patients who stand to benefit. Medtronic and others who make tiny surgical devices to pluck blood clots from the brain are set for a
      WP  -  1,199 words
  • Page 25 Miscellaneous
    • 339 25 CRYPTIC CROSSWORD Across 1 Early music without instrumentation (4,6) 6 Early man discovered across Dorset/Hampshire border (4) 10 Suffering at the back of cold entrance (5) 11 Work that could get sewer functioning (9) 12 Room seen through the French window (7) 13 Feeble walker is old, retd, drunk (7)
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  • SME
    • 905 26  -  Preschool education provider opens its first school in Myanmar and expects its first school in Vietnam to be operational by September.By September.By MINDY TAN tanmindy@sph.com.sg @MindyTanBT MODERN Montessori International Group (MMI) is starting to reap the rewards of the groundwork they laid out in the
      905 words
    • 948 26  -  By Mindy Tan @MindyTanBT tanmindy@sph.com.sg WITH its more portable and affordable offering, Universal Robots has been working hard to make robots accessible both at its price point and simplicity in implementation to small and medium-sized enterprises (SMEs). Last week, the developer and manufacturer of flexible
      PHOTO: YEN MENG JIIN  -  948 words
    • 922 26  -  COMMENTARY By Upasna Kakroo T The writer is a digital storytelling consultant with Unified Inbox, a Singapore-based technology startup. She is co-founder of a content marketing branding startup, Brandanew. Her previous experiences include Rocket Internet, Experteer and McKinsey Co. She has been
      922 words