The Business Times, 25 March 2015

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Microfilm: NL33431
Total Pages: 26
1 26 The Business Times
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  • Title Section
    Lock icon Masthead
    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 Wednesday, March 25, 2015
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  • DAILY DIGEST
    • Article
      Lock icon New car prices
      29 1 may be high but motorists are getting some relief from lower insurance premiums, which should continue to slide in 2015 because of intense competition.TOP STORIES 5
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    • Article
      Lock icon City Developments’
      30 1 latest five-year bonds sold at 3 per cent were aggressively priced due to CDL’s strong credit standing and the lack of papers from blue-chip companies. COMPANIES MARKETS 6
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    • Article
      Lock icon Weakening cashflows
      23 1 and rising debts are putting the credit ratings of Guangzhou R&F Properties Co at risk of further downgrades. COMPANIES MARKETS 7
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    • Article, Illustration
      Lock icon Russian steelmakers
      38 1 are falling out of investors’ favour as slack demand and a strengthening rouble dim the profit outlook for some of the companies that had skirted a broader sell-off amid the country’s financial crisis. ENERGY COMMODITIES /13
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    • Article
      Lock icon The cost of living in the US
      29 1 excluding food and fuel rose more than forecast in February, reflecting broadbased gains that helped keep a floor under inflation. GOVT ECONOMY/17
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    • Article
      Lock icon Activity in China’s factory
      28 1 sector dipped to an 11-month low in March as new orders shrank, a private survey showed, signalling persistent weakness in the economy. GOVT ECONOMY/18
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    • Article
      Lock icon Next-generation hybrid
      21 1 cars combining electric and gas power are emerging as a low-cost alternative for consumers as batteries get cheaper.TRANSPORT 20
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    • Article
      Lock icon With private tech
      26 1 companies growing faster than companies on the stock market, the money managers are aiming to get a piece of the action. EXECUTIVE MONEY/26
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  • Article
    Lock icon ADB expects outlook for Asian economies to be mainly fair
    885 1  -  Growth in developing Asia is steady for now, but the region could be affected by hiccups inside and outside it By Anthony Rowley btworld@sph.com.sg Tokyo FOR emerging Asian economies, the short-term outlook promises to be one of “steady as she
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  • Article, Illustration
    Lock icon Tributes flow in from NTUC, universities and foreign leaders
    965 1  -  A hybrid orchid now bears the name Lee Kuan Yew; ex-US secretary of state and long-time friend George Shultz describes him as ‘extraordinary’ By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore FROM the labour movement to Singapore’s oldest university, from old friends to
    PHOTO: CHEW SENG KIM/THE STRAITS TIMES  -  965 words
  • Article
    Lock icon MARKETS
    27 1 Tuesday Change STI 3,413.26 +3.13 KL COMP 1,814.04 +18.19 NIKKEI 225 19,713.45 -40.91 HANG SENG 24,399.60 -94.91 SHENZHEN B 1,138.63 -1.50 DOW (noon EDT) 18,120.31 +4.27
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  • Page 1 Advertisements
    • Advertisement
      Lock icon Page 1 Advertisements Column 1
      47 1 81 *****4 OFFSHORE AND MARINE Bond market quiet in O&M sector COMPANIES MARKETS 6 FRENCH ALPS AIR CRASH STRONG DEMAND 16 bids for city-fringe condo site 150 dead in Airbus tragedy STRAIT TALK What is the future for liner shipping? TRANSPORT 19 REAL ESTATE 11 TRANSPORT 19
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    • Advertisement
      Lock icon Page 1 Advertisements Column 2
      24 1 AN ARCHITECT OF THE SINGAPORE MIRACLE /page 2 EULOGY BY HENRY KISSINGER /page 2 IN HIS OWN WORDS /page 3 MORE TRIBUTES /page 4
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  • LEE KUAN YEW 1923 – 2015
    • Article
      Lock icon An architect of the Singapore miracle
      1739 2  -  Lee Kuan Yew’s immense contribution can clearly be seen in many aspects of the country’s economic landscape.BY landscape.BY MANU BHASKARAN T The writer is partner and director of Centennial Group IN much of the writing on Singapore’s economic miracle, credit is rightly given to
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    • Article, Illustration
      Lock icon A pilgrim who sought world order
      1091 2  -  Lee Kuan Yew spoke forcefully for responsible leadership and acted as a kind of conscience to leaders around the globe. By HENRY A KISSINGER By HENRY A KISSINGER T The writer was US Secretary of State from 1973 to 1977. WP LEE Kuan Yew
      WP; FILE PHOTO  -  1,091 words
    • Article, Illustration
      Lock icon IN HIS OWN WORDS
      664 3 Always willing to call a spade a spade, Lee Kuan Yew never shied away from saying exactly what he thought. Here are some of his more colourful comments “How do you think today’s Singapore came about? Because everybody knows if I say that we are going
      BT Graphics: Anna Teo, Simon Ang, Hyrie Rahmat Artwork created using AndreaMosaic  -  664 words
    • Article, Illustration
      Lock icon Remembering an extraordinary human being
      971 4  -  As Singapore continues to mourn former prime minister Lee Kuan Yew, condolences and tributes streamed in from political figures, various institutions and members of the business community. Compiled by Joyce Hooi Compiled by Joyce Hooi Harry Lee was an extraordinary human being. I have always
      PHOTO: NEO XIAOBIN/THE STRAITS TIMES; PHOTO: NEO XIAOBIN/THE STRAITS TIMES  -  971 words
    • Article
      Lock icon Host of events in Singapore postponed as mark of respect
      778 4  -  Cancellations stream in from Monday afternoon, as organisers defer to period of national mourning By Chan Yi Wen, Rachel Loi yiwenc@sph.com.sg @ChanYiWenBT rachloi@sph.com.sg @RachelLoiBT Singapore NUMEROUS events including official functions and the Business Times Leadership Conference that were originally planned
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    • Article
      Lock icon Events leading up to Lee Kuan Yew’s state funeral
      241 4 IMr Lee Kuan Yew’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 Wednesday to Saturday. Those who wish to pay their respects
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  • TOP STORIES
    • Article
      Lock icon Hiccups seen after Malaysia implements GST system
      861 5  -  Mistakes expected in compliance initially; last-minute queries overwhelm Customs By Pauline Ng btworld@sph.com.sg Kuala Lumpur WITH only a week to go before the implementation of a 6 per cent goods services tax (GST), Malaysians are bracing themselves for the new consumption charge: individuals
      861 words
    • Article
      Lock icon Car insurance premiums down by up to 20%; further slide expected
      609 5  -  Competition in sector intensifying after 2014 underwriting profit more than doubles to S$149.5m By Samuel Ee samuelee@sph.com.sg Singapore NEW car prices may be high but motorists are getting some relief from lower insurance premiums, which should continue to slide
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      298 5 Diversify your funds Enjoy up to 4.30% p.a.* Reap higher returns with Maybank Foreign Currency Time Deposit ■BO mi bo 50 60 -V O'O -W X 50 50 50 v 50 -Ml 5O“»r50 6o US bo 50 5o bo 50 u wO 50 r bo 5o ■T 50 5o 50
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  • COMPANIES & MARKETS
    • Article
      Lock icon Bond market quiet in O&M sector
      995 6  -  Some firms turn to other fund-raising methods as bond yields rise amid fear of fallout from prolonged oil slump By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore THE bond market in Singapore might have picked up overall but one corner has remained forlornly silent since the
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    • Article
      Lock icon CityDev bonds priced at 3% guidance due to strong credit standing
      398 6  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore CITY Developments Limited’s latest five-year bonds sold at 3 per cent were aggressively priced due to CDL’s strong credit standing and the lack of papers from blue-chip companies. The tight pricing also
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    • IN BRIEF
      • Article
        Lock icon UOB in move to privatise Far Eastern Bank
        103 6 UNITED Overseas Bank (UOB) is looking to privatise Far Eastern Bank (FEB) by offering S$3.51 per share for the shares that it does not own in FEB, which could total up to S$74.15 million. UOB already holds a 78.88 per cent stake
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      • Article
        Lock icon Keppel Corp’s stake in KepLand up at 89.4%
        76 6 KEPPEL Corp’s stake in Keppel Land has grown to 89.4 per cent as at 5pm on Tuesday, the company said in a Singapore Exchange filing. Keppel Corp needs to own more than 90 per cent of Keppel Land to delist the company,
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      • Article
        Lock icon Sino Construction posts S$7m loss for Q4
        70 6 SINO Construction recorded a S$7 million net loss for its fourth quarter ended Dec 31, 2014, versus a S$2.18 million net profit in the year ago period. The results included discontinued operations, which saw net loss of S$5.96 million in Q4 2014 and
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    • Article
      Lock icon S&P flags Guangzhou R&F for further rating downgrade
      659 7  -  It thinks Chinese developer’s cash flows and leverage could weaken more than earlier expectations By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore WEAKENING cashflows and rising debts are putting the credit ratings of Hong Kong-listed Chinese developer Guangzhou R&F Properties Co which is seeing
      659 words
    • Article
      Lock icon Genting Singapore’s RWS secures S$2.27b facilities
      322 7  -  By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore GENTING Singapore’s wholly owned Resorts World at Sentosa (RWS) has secured S$2.27 billion credit facilities to refinance facilities of S$4.1925 billion obtained in 2011. The syndicated senior secured credit facilities will enable RWS to extend the tenure of
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    • Article
      Lock icon Metro Holdings’ JV to sell mall in China
      448 7  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore NORDEVO Investments which is 50 per cent held by a subsidiary of Metro Holdings has entered into a sale and purchase agreement to divest its entire stake in China East Investment (CEI), which owns a mall
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    • Article, Illustration
      Lock icon STI / Catalist
      63 8 STI Catalist Straits Times index March 24,2015 3,413.26 +3.13 (+0.09%) Current streak 1 day Day high 3,421.61 Day low 3,408.40 52-week high 3,444.57 (Feb 11, 2015) 52-week low 3,104.17 (Mar 25, 2014) ftse ST Catalist index March 24,2015 668.55 +6.95 (+1.05%) Current streak 1 day Day high 668.98 Day low
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    • Article, Illustration
      Lock icon STI edges up in ho-hum session
      642 8  -  Brokers say quiet trading could be caused by Wall Street’s late weakness on Monday STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT AN agonisingly boring session on Tuesday finished with the Straits Times Index (STI) just about managing to stay in the black up 3.13 points
      Source: Bloomberg  -  642 words
    • Article
      Lock icon STI STOCKS
      317 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 256 -3 260/255 263 217 5.6 6472.6 CapitaLand 359 +7 359/352 371 275 13.2 2.5 *****.9 CapitaMall Trust 218 +2 218/214 226 188 5 7562.5 CityDev 1019 cd +4 1019/1006 1118 915
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    • Article
      Lock icon MOST ACTIVE
      34 8 VOLUME IHC 51,002,400 Noble 37,800,200 Genting Sing 33,540,700 Pacific Andes 30,085,000 Equation 29,761,900 Market volume 1,311,174,000 VALUE SingTel 88,585,621 DBS Grp 76,624,662 UOB 67,838,657 OCBC Bank 46,700,120 Noble 34,312,879 Market value 1,016,905,000
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    • Article
      Lock icon SGX ETFs
      111 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 341 -1 7717 342/341 349/311 341/342 IS MS India US$ US793 +8 256 798/776 1000/605 794/795 99.1 UETF SSE50China 255 -4 155 260/254 260/140 255/257 79.7 Lyxor Asia US$ US521 +4 87 521/517 543/474
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Mar 24 VALUE CLOSE BT OB/OS -439.00 +118.00 BT CADI -*****.00 +66.00 BT 10-day MA -*****.00 -44.00 FTSE ST Mid Cap 776.93 +3.33 FTSE ST Small Cap 477.76 +2.00 FTSE ST All Share 817.43 +1.34 FTSE ST China Top 191.38 +0.66 FTSE ST China 232.27 +0.21 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      34 8 STI FTSE ST All-Share ftse ST All-Share index March 24,2015 817.43 +1.34 (+0.16%) Current streak 4 days Day high 818.80 Day low 816.44 52-week high 827.11 (Feb 11,2015) 52-week low 754.98 (Mar 25, 2014)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE Index March 23,2015 1,900.84 +13.53 (+0.72%) Current streak 4 days Day high 1,904.08 Day low 1,881.39 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 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 4 4 0 0 0 6 4 4 Manufacturing 53 36 34 11 3 12 64 39 46 Commerce 20 16 17 5 3 2 25 19 19 Tpt/Stor/Comms 17 11 9
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 17,237 17,237 56,393 56,393 Manufacturing 188,307 56,054 244,361 82,813 2,993 85,806 Commerce 92,152 18,238 110,390 64,659 979 65,638 Tpt/Stor/Comms 106,660 234 106,894 182,475 19 182,494 Finance 19,737 70 19,807 221,847 16 221,864 Construction 34,390 6,376
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    • Article
      Lock icon GAINERS
      75 8 BY CENTS CLOSE UP 52w high/low DBXT iBoxxSvEu US$ ***** 545.2 1.6 *****/***** DBXT E50 US$ 5155 271.9 4.0 5630/4562 GLD US$ ***** 147.6 1.0 *****/***** DBXT MSAsExJp US$ 3678 95.7 1.9 3808/2802 JSH USD 3480 53.3 1.1 3810/3233 BY PERCENTAGE CLOSE UP 52w high/low ISDN W*****0 0.6 100.0
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    • Article
      Lock icon LOSERS
      79 8 BY CENTS CLOSE DOWN 52w high/low SPDR DJIA US$ ***** -54.7 -0.2 *****/***** DBXT Chia50 US$ 3447 -51.9 -1.1 3554/2699 IS S&P500 US$ ***** -43.7 -0.2 *****/***** Lyxor ChinaH US$ 1640 -27.3 -1.2 1700/1280 Lyxor MS India US$ 1751 -26.0 -1.1 1840/1382 BY PERCENTAGE CLOSE DOWN 52w high/low Hai
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    • Article
      Lock icon UNUSUAL ACTIVITY
      78 8 VOL CLOSE($) CHANGE Plastoform 17,962.0 0.009 +0.001 +12.50 Pavillon 180.0 0.075 +0.015 +25.00 Equation 29,761.9 0.008 +0.002 +33.33 Asian Micro 86.0 0.019 +0.007 +58.33 Jadason^ 2,890.0 0.017 -0.001 -5.56 Cacola^ 219.0 0.017 -0.010 -37.04 Transit Concrete 18.0 0.480 +0.045 +10.35 M Development 1,201.0 0.006 +0.001 +20.00 HuanHsin^ 3,936.0
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    • BROKERS’ TAKE
      • Article
        Lock icon Valuetronics
        227 8 Buy March 24 close: S$0.475 Target price: S$0.64 RHB Research Institute Singapore, Mar 24 WE brought Valuetronics on a full-day roadshow on March 23 to meet our institutional clients, with another planned on March 25. The feedback was generally positive and key concerns remain on whether the growth in
        227 words
      • Article
        Lock icon Aviation and shipping
        223 8  -  Compiled by Haoxiang Cai Haoxiang Sell OCBC Investment Research, March 20 THE aviation and shipping sectors saw a weak end to 2014 with mostly disappointing results. The cost savings on lower oil prices expected by most investors have yet to show in Q4 2014 financials due to
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    • Article
      Lock icon CALENDAR
      10 8 DATA I 8pm (March 25) US MBA mortgage applications
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    • Article
      Lock icon US dollar buying stalls on Fed official’s comments
      384 9 CURRENCIES AFP Tokyo US dollar demand stalled on Tuesday after the vice chairman of the Federal Reserve suggested interest rates would rise more slowly than expected, while the euro won support from hopes for a Greek debt deal. The greenback changed hands
      AFP  -  384 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Mar 24 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.986 4.886 0.718 6.105 48.975 101.942 0.941 8.685 2.880 1.027 80.290 35.164 1.076 9.399 0.759 24.634 25.615 0.527 0.787 Canada 1.015 4.957
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      • Article, Illustration
        Lock icon HANG SENG
        2 9
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      • Article, Illustration
        Lock icon NIKKEI
        1 9
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 9
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      • Article, Illustration
        Lock icon DOW JONES
        2 9
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 9 Mar 24 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0756 1.0766 0.7871 0.7873 Canadian dollar 1.0912 1.0925 0.7989 0.7985 Euro 1.4973 1.4986 1.0957 1.0959 NZ dollar 1.0476 1.0490 0.7666 0.7671 Sterling pound 2.0422 2.0445 1.4945 1.4951
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      • Article
        Lock icon US$/S$ FORWARD RATES
        21 9 Mar24 S$ Bid Offer 1-month 1.3674 1.3687 2-months 1.3682 1.3695 3-months 1.3696 1.3711 6-months 1.3715 1.3730 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        371 9 Mar 24 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.99 *****.64 *****.35 Jun15 *****.00 *****.00 *****.00 *****.00 ***** *****6 Sep15 *****.00 0 143 MSCI TAIWAN INDEX FUTURES SPOT 361.82 362.30 359.49 Mar15 361.10 361.70 358.80 360.30 ***** *****0 Apr15 361.60 362.20 359.10 360.50
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        208 9 Mar 24 Most active Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left ISDN Holdings Limited W*****0 0.6 0.3 6950 1 60 44 Rowsley Ltd W*****3 2.4 0.1 5920 1 18 19 Ezion MB eCW*****2 5.1 unch 5136 0.4 135
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 9 In local curr In S$ In US$ dy yr dy yr dy yr Mar 23 Index Change Change Change Change Change Change World Preliminary 1356.9 0.1 6.4 -0.7 7.5 0.4 4.2 EAFE Preliminary 1105.8 0.0 12.0 -0.4 10.5 0.7 7.1 Europe Preliminary 1556.8 -0.3 12.7
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 Mar 24 $S Offer Bid 0vernight 0.05 Par 1-month 0.875 0.75 2-months 0.9375 0.8125 3-months 1.0625 1.0 Overnight mode: 0.30 US$ 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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      • Article
        Lock icon SIBOR
        36 9 Mar 24 (S$) 1 mth 0.***** 2 mths 3 mths 1.***** 6 mths 1.***** 9 mths 12 mths 1.***** SWAP Offer rates (S$) 1 mth 0.***** 3 mths 1.***** 6 mths 1.***** Source: Thomson Reuters
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      • Article
        Lock icon GOVERNMENT SECURITIES
        71 9 Mar 24 Mar 24 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.17 102.16 102.16 5-Year N*****0H 1.625 01-Oct-19 99.03 99.05 99.05 10-Year NY*****H 3.000 01-Sep-24 105.68 105.80 104.98 15-Year NY*****E 2.875 01-Jul-29 103.87 104.35 102.45 20-Year NZ*****V 3.375
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        248 9 Mar-23 Price Net change change Last Trade Agricultural Mar-23 CBOT Soybeans (US cents/bu) 983.50 9.75 1.00% 14/05/2015 CBOT Soybean Oil (US cents/lb) 31.15 0.47 1.53% 14/05/2015 CBOT Wheat (US cents/bu) 534.00 4.00 0.75% 14/05/2014 Mar-23 LIFFE Cocoa (£/tonne) 1920.00 -25.00 -1.29% 13/05/2015 LIFFE Coffee (US$/tonne) 1813.00 17.00 0.95%
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  • Page 6 Advertisements
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      Lock icon Page 6 Advertisements Column 1
      104 6 11th &12thAPRIl 2015 SUNTEC SINGAPORE Convention Exhibition Center HALL 404, level 4 10 am 7 pm FREE ADMISSION CATCH JIM ROGERS THE INVESTMENT GURU LIVE! REDEEM A $10 TAKASHIMAYA VOUCHER* *Terms and condition Present this Ad at the event. Limited to the first 500 visitors per day. Limited to 1
      104 words
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
      5 7 PROPERTY FINANCE MINDS OF MILLIONAIRES
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    • Advertisement
      Lock icon Page 7 Advertisements Column 2
      197 7 AccountStaff® A Stone Forest Company Globally Connected RSM International RETAIL Accounting We Take Away Your Pain Points Processing voluminous invoices payments Reconciliation of receipts collections End-to-end accounting Contact us for more information www.AccountStaff.com.sg info@accountstaff.com.sg T+65 6594 7946 St 3 w M3 *r'S| V 4 > *•9 'i -af >i rf
      197 words
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  • Page 10 Advertisements
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      Lock icon Page 10 Advertisements Column 1
      3472 10 Noble Group Limited (Incorporated in Bermuda with limited liability) Notice of Annual General Meeting NOTICE IS HEREBY GIVEN that the 2015 Annual General Meeting of Noble Group Limited (the “Company”) will be held at Grand Ballroom, Level 4, Grand Copthorne Waterfront Hotel, 392 Havelock Road, Singapore *****3 on Friday, 17
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      Lock icon Page 10 Advertisements Column 2
      28 10 CEI CONTRACT MANUFACTURING LIMITED (Company Registration No. *****5114H) (Incorporated in Singapore with limited liability) CEI CONTRACT MANUFACTURING LIMITED (Company Registration No. *****5114H) (Incorporated in Singapore with limited liability)
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Bite-sized city-fringe condo site draws 16 bids
      818 11  -  Sustained Land’s S$787 psf ppr top bid exceeds forecasts; group plans 306-unit condo on plot in commercial enclave By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore A 99-YEAR private condominium site at Sturdee Road drew a whopping 16 bids, with a wide pool of developers
      818 words
    • Article, Illustration
      Lock icon EU exit vote seen hurting London office prices
      643 11 BLOOMBERG London CENTRAL London office values would probably suffer if UK voters give Prime Minister David Cameron the chance to hold a referendum on European Union membership. Foreign buyers, who accounted for three quarters of the £19.4 billion (S$39.4 billion) of central
      BLOOMBERG; PHOTO: REUTERS  -  643 words
    • Article
      Lock icon Saudi tax proposal on undeveloped land hits property shares
      443 11 REUTERS Riyadh SAUDI Arabian real estate shares tumbled on Tuesday after the Cabinet approved a proposal to tax undeveloped land in urban areas a policy that could shake up investment incentives in the kingdom and help to resolve a housing shortage.
      REUTERS  -  443 words
  • Page 11 Advertisements
    • Advertisement
      Lock icon Page 11 Advertisements Column 1
      38 11 Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices
      38 words
    • Advertisement
      Lock icon Page 11 Advertisements Column 2
      77 11 •It •rz Fr °m $7 n 3o° /1a/ Ra tes A A' 0»*ar* Limited Units ONLY! Brand new ramp-up warehouse Available space for [ease: > 2,000 sq ft Contiguous units available Opposite IKEA Courts next to TPE High ceiling and regular layout TOP by early June 2015 Zoned Business 2
      77 words
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      Lock icon Page 11 Advertisements Column 3
      227 11 Prime Freehold Commercial Retail Shop on ground floor with basement Total StrataArea: 298 sqm 3,208 sq ft Both ground basement with own toilet Wide frontage facing Changi Road Next to Joo Chiat Complex Multi-storey Carpark Opposite Geylang Serai Food Centre Close to Paya Lebar Eunos MRTs Tender Closing: 15 April
      227 words
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon Deutsche Bank may shrink trading arms as a profitability booster
      730 12 Bank also mulls reducing interest-rate business and prime finance activities catering to hedge funds BLOOMBERG Frankfurt DEUTSCHE Bank AG, which runs Europe’s biggest investment bank, is looking at shrinking its trading businesses as it reviews three options to boost the
      BLOOMBERG; PHOTO: REUTERS  -  730 words
    • Article
      Lock icon New RBS chairman defends his record as regulator
      459 12 REUTERS London INCOMING Royal Bank of Scotland chairman Howard Davies has defended his role in setting up the financial regulator that presided over the near meltdown of Britain’s banking system. Mr Davies was a surprise appointment to succeed Philip Hampton as chairman
      REUTERS  -  459 words
    • Article
      Lock icon Amex joins regional banks to lobby for changes to Dodd-Frank Act
      281 12 BLOOMBERG New York AMERICAN Express Co is joining regional banks including Capital One Financial Corp and SunTrust Banks Inc to lobby for changes that would reduce regulatory burdens on smaller lenders. The coalition, which also includes Fifth Third Bancorp
      BLOOMBERG  -  281 words
  • Page 12 Advertisements
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      Lock icon Page 12 Advertisements Column 1
      2106 12 The Business Times NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.sphclass.com.sg/notices (iii) COURAGE MARINE GROUP LIMITED (Incorporated in Bermuda with limited liability) (Hong Kong Stock Code: 1145) (Singapore Stock Code: E91.SI) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the annual general meeting (“Annual General Meeting”) of the Company
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Recovering rouble, weak sales hit Russia steel stocks
      662 13 Economists see country’s GDP contracting 4% this year as plunge in crude trading exacerbates impact of sanctions BLOOMBERG New York RUSSIAN steelmakers are falling out of investors’ favour as slack demand and a strengthening rouble dim the profit outlook for some of
      BLOOMBERG; PHOTO: BLOOMBERG  -  662 words
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      Lock icon Slump in rubber prices likely over: Michelin
      663 13 BLOOMBERG Bangkok THE slump in global natural rubber prices is probably over because producers are finding it harder to cover their costs and will cut output, according to Michelin Cie, Europe’s largest tyremaker. Rates have reached a floor of about US$1.50 a kilogram,
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      64 13 PRESIDENT’S AWARD FORTHE ENVIRONMENT Nominate exceptional individuals educational institutions and organisations that have made an impact towards a sustainable Singapore. Nominations close on 17 April 2015 For more information log on to: www.mewr.gov.sg/presidentsaward The President's Award for the Environment (PAE) is the highest environmental accolade that recognises outstanding contributions towards
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      13 14 FRAGRANCE GROUP LIMITED (Incorporated in the Republic of Singapore) Company Registration No. *****6656M
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      387 14 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 PURSUANT TO SECTION 290(2)(b) AND IN THE MATTER OF FU LIEN INTERNATIONAL INVESTMENTS PTE LTD (Company No: *****2562N) (In Members’ Voluntary Winding-up) By way of Shareholders’ Written Resolution dated 20th March 2015 the Special Resolutions set out below were duly passed:
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      868 14 MARCH ISSUE OUT NOW! IN THIS ISSUE HIAIM THAT DRIVES PHOTOGRAPHY Enjoy20% OFFwhen you subscribe to the print edition now! Visit www.hardwaremag.com SEABIRD EXPLORATION ASIA PACIFIC PTE. LTD. (Company Registration No. *****3807H) (the “Company”) NEWSPAPER NOTICE NOTICE IS HEREBY GIVEN pursuant to Section 76(10)(h) of the Companies Act, Chapter 50
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  • TECHNOLOGY
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      243 15 Wine, -A f m -v: kOcnudijITC.. Z BT Wine, Dine Hospitality Pages save up to m V, 11»1 V fe*- 6 mo^ Published on Mon, Wed and Fri For advertisement bookings and sales enquiries, please contact; AmyChoo 9690 3432 Lawrence Chang 9229 4919 Francis Yeo 9620 1356 Amy Leo 9730
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  • CONSUMER
    • Article, Illustration
      Lock icon Cow slaughtering ban in India hits farmers, traders
      582 16 Government has closed abattoirs in Maharashtra and restrictions are spreading to other states REUTERS Mumbai INDIAN farmer Nitin Tarode wants to sell his old bull to help pay for his sister’s wedding after his income was hit by patchy rainfall. But he
      REUTERS; PHOTO: BLOOMBERG  -  582 words
    • Article
      Lock icon Vivendi rejects call to spin off Universal Music
      312 16 BLOOMBERG New York VIVENDI SA rejected a call by an activist investor to spin off its music business and said it will examine a proposal for higher dividend. The company rebuffed a December suggestion by New York-based hedge fund P Schoenfeld Asset
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      Lock icon Starbucks halts US ‘Race Together’ campaign
      205 16 AFP Washington STARBUCKS has halted its campaign to mix discussions of racism with its coffee after the initiative met with scepticism and sarcastic put-downs. In an open letter saying the “Race Together” campaign was ended on Sunday, CEO Howard Schultz summed up the effort
      AFP; PHOTO: AFP  -  205 words
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      375 16 STProperty EVENTS STPROPERTY SEMINAR: Strategies to Capitalise on Opportunities and Avoid Pitfalls in the Property Market 2015 All prices are inclusive of GST TICKETS NORMAL 1-Day Pass 2-Day Pass $25 $40 ‘Early bird price ends 30 March 2015 f 7 > wm m r\ s S:1 ATTEND OUR SEMINAR FOR
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  • GOVERNMENT & ECONOMY
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      Lock icon Cost of living up more than expected in Feb
      683 17 Core consumer-price index rises 0.2 per cent for second month, says Labor Department LATEST US DATA BLOOMBERG AFP Washington THE cost of living in the US excluding food and fuel rose more than forecast in February, reflecting broad-based gains that helped
      BLOOMBERG; AFP; PHOTO: BLOOMBERG  -  683 words
    • Article
      Lock icon UK inflation falls to zero for first time since 1934
      612 17  -  By Neil Behrmann btworld@sph.com.sg London INFLATION in the United Kingdom fell to zero in February, the first time in eighty one years. Several economists forecast that the UK would slip into deflation. Indeed, the year 1934, when inflation was last
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    • Article
      Lock icon BOJ’s ETF and Reit buys not distorting markets: Kuroda
      330 17 BLOOMBERG Tokyo BANK of Japan chief Haruhiko Kuroda fended off criticism on Tuesday that the central bank has distorted markets with its purchases of ex-change-traded funds and Japanese real estate investment trusts. The amount of ETFs and J-Reits that the BOJ
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    • Article
      Lock icon Businesses in eurozone grow at fastest pace in nearly 4 years
      520 17 REUTERS London EUROZONE businesses ramped up activity this month, just as the European Central Bank starts printing money to spur growth and inflation, while a slowdown among Chinese factories has fuelled calls for more stimulus there. Tuesday’s surveys showed
      REUTERS  -  520 words
    • Article
      Lock icon China’s March PMI hits 11-month low
      666 18 Reading of 49.2 adds to signs that economy has lost momentum despite two interest rate cuts since Nov REUTERS Beijing ACTIVITY in China’s factory sector dipped to an 11-month low in March as new orders shrank, a private survey showed, signalling persistent weakness in
      REUTERS  -  666 words
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      Lock icon Macau cuts gambling revenue forecast sharply
      802 18 BLOOMBERG Hong Kong MACAU slashed its monthly gambling revenue forecast 27 per cent, as the city’s chief executive pledged a five-year plan to make the world’s largest gaming hub less dependent on casinos. The city expects average gross monthly gaming revenue of 20 billion
      BLOOMBERG; PHOTO: BLOOMBERG  -  802 words
    • Article
      Lock icon Draghi rejects accusation that ECB is blackmailing Greece
      631 18 BLOOMBERG Frankfurt MARIO Draghi pushed back against an accusation that the European Central Bank (ECB) is blackmailing Greece and compounding the pressure on the country. “Let me disagree with you about everything you said,” Mr Draghi told Portuguese lawmaker Marisa Matias during
      BLOOMBERG  -  631 words
    • Article
      Lock icon Private equity firms receive lacklustre response in Australia
      1104 18 NYT Sydney WHEN the financing arm of General Electric agreed last week to sell its consumer lending business in Australia and New Zealand to a consortium of investors that included the private equity firm Kohlberg Kravis Roberts (KKR), the firm’s managing partner
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      1587 17 The Business Times NOTICES BKV MEGACHEM LIMITED MegaChem Company Registration No.: *****3293M (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Company will be held at 11 Tuas Link 1, Singapore *****8 on Friday, 10 April 2015
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  • TRANSPORT
    • Article, Illustration
      Lock icon 150 die in French Alps air crash
      635 19 Lufthansa budget carrier Germanwings’s Airbus was flying from Barcelona to Dusseldorf; Merkel to follow her ministers to Alpine region REUTERS AFP Seyne-les-Alpes AN Airbus operated by Lufthansa’s Germanwings budget airline crashed in a remote snowy area of the French Alps on Tuesday, killing
      REUTERS; AFP; PHOTO: REUTERS  -  635 words
    • Article
      Lock icon What is the future for liner shipping?
      801 19  -  TTSTRAIT TALK BY DAVID HUGHES WHATEVER else liner shipping companies might complain about, they cannot say that they lack advice on how to run their industry. Actually, the liner shipping companies seem closer to cracking this problem than they ever have since wrong-headed
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    • Article
      Lock icon Aussie watchdog says no to Qantas, China Eastern JV
      364 19 AFP Sydney AUSTRALIA’S consumer watchdog on Tuesday said it planned to reject a proposal by airlines Qantas and China Eastern to more closely coordinate their operations, saying it will harm competition. The airlines already have a codesharing agreement and last year
      AFP  -  364 words
    • Article
      Lock icon Brazil’s Gol airline beckons foreign buyers after vote
      826 19 BLOOMBERG Sao Paulo BRAZIL’S biggest airline is opening the door to a potential suitor with a stock restructuring that will allow greater foreign ownership. Shareholders of Gol Linhas Aereas Inteligentes SA voted on Monday to approve a measure that will reduce its
      BLOOMBERG  -  826 words
    • Article
      Lock icon Taiwan expands TransAsia pilot testing to Airbus
      466 19 WP Taipei TAIWAN’S Civil Aeronautics Administration has expanded testing of TransAsia Airways pilots to those flying its Airbus planes after a fatal crash last month, according to officials. TransAsia’s roster of more than 90 pilots flying itsA320, A321 and A330 jet aircraft are
      WP  -  466 words
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      Lock icon Cheaper, more efficient batteries add power to hybrid cars
      516 20 New systems under development that charge the battery each time the brakes are hit add to fuel efficiency BLOOMBERG New York NEXT-GENERATION hybrid cars combining electric and gas power in new ways are emerging as a low-cost alternative for consumers as
      BLOOMBERG; PHOTO: AFP  -  516 words
    • Article
      Lock icon GM to make next generation Chevrolet Cruze in Mexico
      529 20 REUTERS Detroit GENERAL Motors Co will build its next-generation Chevrolet Cruze compact in Mexico, the company said on Monday, as carmakers look to expand in the Latin American nation to take advantage of low labour costs and free trade agreements. GM
      REUTERS  -  529 words
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      Lock icon High fares: US airline industry becoming an uncompetitive oligopoly
      1040 20 NYT New York JUST more than two years ago, one of the nation’s airline trade organisations called the industry “hypercompetitive” and declared “airfare remains a bargain”. At the time, the Justice Department was weighing the competitive implications of a merger between
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      Lock icon GM, Ford said to be mulling over new tier of lower-paid US workers
      894 20 BLOOMBERG Southfield, Michigan US carmakers General Motors Co and Ford Motor Co, heading into negotiations with the United Auto Workers (UAW) union, are considering asking to create a new tier of lower-paid union workers in their US
      BLOOMBERG  -  894 words
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    1930 21 MONTREAL 10 120 29/7 30/7 4/8 MONTREAL 10 120 29/7 30/7 4/8 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) SIN PKL KUC KK JKT SUR HAN SYMPHONY 1 60 28/3 29/3 1/4 4/4 ISTORYA 1 120 29/3 2/4
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      106 21 Experienced ship maintenance services wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 1HE BUSINESS TIMES SHIPPING TIMES Make A Splash In The Maritime World Via s|£iJhiaritime.coM Ahoy there! If you are in a business pertaining to any sector of
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  • OPINION
    • Article
      Lock icon Investors would do well to connect the dot plot with the data
      554 22 INVESTORS may be going a little too dotty over dots. EDITORIAL The “dot plot”, which shows what voting members of the Federal Reserve think should be the target short-term interest rate in the coming years, set off a
      554 words
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      Lock icon The Fed’s reckoning
      803 22  -  THE BOTTOM LINE By Robert Samuelson THE WASHINGTON POST WRITERS GROUP THE Federal Reserve is at a crossroads, and it doesn’t know where it’s going. After holding short-term interest rates near zero for six years, Fed policymakers, led by chair Janet Yellen, are prepared to raise them
      THE WASHINGTON POST WRITERS GROUP  -  803 words
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      Lock icon Modi boldly remakes India’s foreign policy
      1332 22  -  The PM shows great diplomatic agility for a leader deemed provincial before his election. The audacity with which he is challenging past foreign policy shibboleths is striking. BY HARSH PANT BY HARSH PANT T The writer is professor of international relations at King’s College
      PHOTO: REUTERS  -  1,332 words
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      Lock icon AIIB: Washington loses campaign against Beijing
      1169 23  -  In the spirit of “if you can’t beat ’em, join ’em”, the Americans have concluded that collaborating with the Chinese and other AIIB members would allow them to exert more influence in the organisation. COMMENTARY By Leon Hadar ‘WHAT was he thinking?’ is the
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      Lock icon Wall Street losing millions from bad energy loans
      691 23  -  By Nick Cunningham OIL companies continue to get burned by low oil prices, but the pain is bleeding over into the financial industry. Major banks are suffering huge losses from both directly backing some struggling oil companies, but also from buying high-yield
      PHOTO: BLOOMBERG  -  691 words
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      Lock icon TRANSFORMING EUROPE INTO A DIGITAL WORLD
      891 23  -  In order to create a Europe that is stronger, faster and more dynamic, its leaders must ensure that digital transformation forms the foundation of their strategy.BY JOHN CHAMBERS strategy.BY JOHN CHAMBERS T The writer is chairman and CEO of Cisco PROJECT SYNDICATE San Jose
      PROJECT SYNDICATE; PHOTO: REUTERS  -  891 words
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon 12-yr-old touches hearts in Mexico City
      701 24  -  S’pore contingent at Spotlight Singapore Mexico City event moved to tears by Mr Lee’s memory By Helmi Yusof helmi@sph.com.sg @HelmiBT Mexico City IT was a wistful song by a 12-year-old boy that moved Singapore delegates in Mexico City to tears, as it unintentionally evoked
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      Lock icon Security concerns delay reopening of Tunis museum
      475 24 AFP Tunis TUNISIA’S national museum was forced to delay its planned reopening on Tuesday over lingering security concerns after last week’s jihadist attack on foreign tourists that left 21 dead. Hundreds gathered outside the National Bardo Museum in central Tunis to condemn the
      AFP; PHOTO: REUTERS  -  475 words
    • Article
      Lock icon Americans have enough to retire if they have savings plan at work
      543 24 WP Washington WITH traditional pensions on the wane, wages for typical workers flat-lining and many people living longer, it is no secret that Americans face an everincreasing challenge to achieve financial security in retirement. Most are not meeting
      WP  -  543 words
    • Article
      Lock icon There is gold in them biosolids the trick is how to retrieve it
      356 24 AFP Washington HUMAN faeces contains gold and other precious metals that could be worth hundreds of millions of dollars, experts say. Now the trick is how to retrieve them a potential windfall that could also help save
      AFP  -  356 words
  • Page 24 Miscellaneous
    • Miscellaneous
      Lock icon Page 24 Miscellaneous Column 1
      345 24 CRYPTIC CROSSWORD Across 1 Nudist should cover the feminine French back one’s studying in the wild (10) 6 Thus the Italian’s entered tower (4) 8 Verify detail arranged by Virginia (8) 9 Irritation of fine to be passed on (3,3) 10 Jam rugby man’s put on grill (8) 11 Penny
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      42 25 s k 9 i r P' f. *c NB1 Ai We cover breaking news in real estate «V Read the latest stories in full at businesstimes.com.sg/breaking-news BusinessTimes.com.sg BTd/gital Available on the H get it on V AppStore I ►Googleplay thebusinesstimes rj btbreakingnews
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  • EXECUTIVE MONEY
    • Article, Illustration
      Lock icon Funds jostle for tech private equity
      1286 26  -  The success of fast-growing Silicon Valley startups like Uber, Airbnb sends money managers on the hunt for what they call ‘unicorns’. BY DAVID GELLES AND CONOR DOUGHERTY BY DAVID GELLES, CONOR DOUGHERTY NYT THE retirement accounts of millions of Americans have long contained shares
      NYT; PETER DASILVA/NYT  -  1,286 words
    • Article
      Lock icon Mutual funds are net buyers of SGX shares
      448 25 ON THE RADAR GLOBAL mutual funds were net buyers of Singapore shares in the three months to March 18. Based on the top five stocks in play, there was S$1.2 billion worth of buys compared to sells of S$908.3 million. This week
      448 words
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      Lock icon Yield-hungry investors let guard down
      929 25  -  Corporate borrowers get away with issuing deals with less protection in face of the cash flood in Europe.BY Europe.BY LUCA CASIRAGHI, CORDELL EDDINGS BLOOMBERG MARIO Draghi’s tril-lion-euro stimulus plan is making investors so desperate for yield that they’re giving up protections in Europe’s market for
      BLOOMBERG; PHOTO: REUTERS  -  929 words
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      Lock icon Adding life into financial advice
      854 25  -  By Paul Sullivan NYT BREAK your financial life into chapters. Assign a high point, a low point and a turning point to each chapter. What’s the story and what stands out? It sounds like a party game. But it was a survey created by Barnaby
      NYT  -  854 words
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      97 26 The world’s No.1 CFD provider*gives you full exposure to Singapore stocks from 10% deposit and 0.1% commission. Discover a new way to trade at IG.com.sg Losses can exceed your deposits. Ensure you understand the risks and costs involved with CFD and FX trading by reading the Risk Disclosure Statement at
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