The Business Times, 26 March 2015

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Microfilm: NL33431
Total Pages: 30
1 30 The Business Times
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  • Title Section
    Lock icon Masthead
    29 1 THE BUSINESS TIMES S$1.00 S$1.00 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 MCI (P) 051/08/2014 Thursday, March 26,2015 Wednesday, March 25, 2015
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  • DAILY DIGEST
    • Article
      Lock icon MAS is expected
      31 1 to maintain its stance of allowing the Singapore dollar’s appreciation in April, a Reuters poll showed, a marked change from expectations just a few weeks ago. TOP STORIES/4
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    • Article, Illustration
      Lock icon Trading in Neptune Orient Lines
      34 1 surged on Wednesday, buoyed by a report from an international broking house that upgraded the stock to a ‘buy’ and fresh rumours of a potential takeover. COMPANIES MARKETS 5
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    • Article
      Lock icon Asia is expected to see
      30 1 more inbound real estate capital return in 2015, thanks to yield improvements in some Asian markets, with more realistically priced assets surfacing. REAL ESTATE /11
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    • Article
      Lock icon The Australian commercial real estate
      20 1 investment market has been a standout performer within the Asia-Pacific region in 2014. REAL ESTATE/13
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    • Article
      Lock icon New rules being rolled out
      21 1 to make bankers more accountable were “entirely reasonable”, HSBC chairman Douglas Flint says. BANKING FINANCE 15
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    • Article
      Lock icon Morgan Stanley cut
      35 1 its price forecasts for almost all base metals and bulk commodities as China’s “dormant” industry fails to bolster demand in the world’s biggest consumer of copper and iron ore. ENERGY COMMODITIES 16
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    • Article
      Lock icon Hutchison Whampoa
      21 1 agreed to acquire Telefonica’s O2 unit in the UK, intensifying a push into businesses that provide stable income.TECHNOLOGY 18
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    • Article
      Lock icon Since 2008, Adidas
      24 1 chief Herbert Hainer has abandoned two long-term strategy plans. This week, he expects to offer a third such plan. CONSUMER 20
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    • Article
      Lock icon European Central Bank
      24 1 president Mario Draghi’s plan to stimulate Europe’s economy by buying asset-backed securities is starting to show signs of working.GOVT ECONOMY 24
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  • Article, Illustration
    Lock icon Crowds brave heat and long wait to pay their final respects
    1034 1  -  Their determination spurs acts of kindness from businesses on the fringes of the long queues, as free water, seats and fresh flowers are handed out By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore FOR an entire day, it seemed as if
    PHOTO: NEO XIAOBIN//ST  -  1,034 words
  • Article
    Lock icon Singapore bond market still sizzling as rates rise
    682 1  -  But activity in March unlikely to make up for slow start to the year By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore THE local bond market continues to sizzle even as interest rates rise to multi-year highs. In the first three weeks of
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  • Article
    Lock icon MARKETS
    27 1 Wednesday Change STI 3419.02 +5.76 KL COMP 1,819.10 +5.06 NIKKEI 225 19,746.20 +32.75 HANG SENG 24,528.23 +128.63 SHENZHEN B 1,141.55 +2.92 DOW (noon EDT) 17,850.06 -161.08
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  • Page 1 Advertisements
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  • LEE KUAN YEW 1923 – 2015
    • Article, Illustration
      Lock icon A shared Singapore moment
      784 2  -  Just as history will judge the work of a lion like Lee Kuan Yew, so will it judge how Singapore, as a nation, moves on from this loss. BY WONG WEI KONG weikong@sph.com.sg @WongWeiKongBT I HADN’T thought I would be moved as much, but I am.
      PHOTO: AFP  -  784 words
    • Article
      Lock icon The leader who delivered – and made history
      2537 2  - The leader who delivered and made history By Sunanda K Datta-Ray T The writer is a veteran Indian journalist who spent many years in Singapore as consultant with The Straits Times and teaching at Nanyang Technological University. His more than 50 years in journalism include stints in Britain and the
      2,537 words
    • Article
      Lock icon Companies pay tribute to LKY
      471 2  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore MANY companies here are taking a pause to pay tribute to Singapore’s founding father Lee Kuan Yew, who died on Monday at the age of 91. Almost all the 21 companies The Business Times spoke with said they have
      471 words
    • Article, Illustration
      Lock icon A LION AMONG LEADERS
      1005 3 Hailed as “a true giant of history” and one of the outstanding leaders of the last 100 years. The outpouring of tributes to Lee Kuan Yew from world leaders speaks of his immense achievements and impact, not only in Singapore but across the region and beyond.
      BT Graphics: Anna Teo, Simon Ang, Hyrie Rahmat Artwork created using AndreaMosaic  -  1,005 words
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  • TOP STORIES
  • Page 4 Advertisements
    • Advertisement
      Lock icon Page 4 Advertisements Column 1
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      Lock icon Page 4 Advertisements Column 2
      16 4 Licensed Printing Co. in Malaysia looking for JV partner Pis call Radzi +6019 2323 888 radzisejahtera@gmail.com
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon ‘Buy’ upgrade and takeover rumours buoy NOL
      658 5  -  Goldman Sachs report spurs fresh talk of possible merger or acquisition By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore TRADING activity in shipping company Neptune Orient Lines (NOL) surged to a two-year high on Wednesday, buoyed by a report from an international broking house that
      PHOTO: BLOOMBERG  -  658 words
    • Article
      Lock icon Aussie engineer Civmec eyeing acquisitions
      353 5  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore AUSTRALIAN heavy engineering firm Civmec, which has seen its share price plunge over the past couple of weeks, said that it is on the lookout for potential acquisitions to expand its business. It is still actively tendering for contracts
      353 words
    • Article
      Lock icon KepCorp crosses 90% mark for KepLand delisting
      608 6  -  It still needs 95.5% for compulsory acquisition; analysts divided on whether KepCorp will extend offer again By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore KEPPEL Corp has crossed the 90 per cent ownership threshold required to delist its real estate subsidiary Keppel Land. A Singapore
      608 words
    • Article, Illustration
      Lock icon Asia-Pacific to continue to drive yuan demand: HSBC
      401 6  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THE use of the Chinese yuan is expected to continue to be driven by Asia-Pa-cific markets especially the Greater China region, an HSBC survey this week showed. This comes as there are signs of divergence in
      401 words
    • Article
      Lock icon SIIC Env shares rally on news of 1.55b yuan acquisition
      462 6  -  By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore SHARES in SIIC Environment Holdings surged on Wednesday after the wa-ter-treatment company announced another acquisition and a share consolidation plan. After an intra-day high of 16.6 Singapore cents, the stock closed at 16.4 cents,
      462 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 8 STI Catalist Straits Times Index March 25,2015 3,419.02 +5.76 (+0.17%) Current streak 2 days Day high 3,422.72 Day low 3,404.63 52-week high 3,444.57 (Feb 11, 2015) 52-week low 3,104.17 (Mar 25, 2014) FTSE ST Catalist Index March 25,2015 674.77 +6.22 (+0.93%) Current streak 2 days Day high 676.83 Day low
      63 words
    • Article, Illustration
      Lock icon Thoughts turn to window-dressing
      630 8  -  Question of whether there will be a quarter-end pushing as STI’s year-to-date performance has been feeble STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT AS March 31 draws nearer, thoughts among traders must inevitably turn to whether the Straits Times Index (STI) will enjoy a quarter-end-ing, window-dressing push
      Source: Bloomberg  -  630 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 254 -2 255/253 263 217 5.6 6422 CapitaLand 355 -4 359/352 371 276 13 2.5 ***** CapitaMall Trust 217 -1 218/216 226 188 5 7527.8 CityDev 1016 cd -3 1020/1014 1118 915
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    • Article
      Lock icon MOST ACTIVE
      36 8 VOLUME SIIC Environment 135,572,300 Moya Asia 74,528,400 IHC 74,504,400 Pacific Andes 33,442,400 Noble 23,662,000 Market volume 1,445,792,000 VALUE SingTel 86,575,866 UOB 78,736,182 DBS Grp 61,487,612 Keppel Corp 38,329,080 OCBC Bank 34,063,135 Market value 969,024,000
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    • Article
      Lock icon SGX ETFs Most Active
      107 8 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 341 93 342/340 349/312 341/342 UETF SSE50China 251 -4 68 254/250 260/140 251/252 78.4 IS MS India US$ US784 -9 50 789/784 1000/605 784/789 98 IS ASIA HYG US$ US1051 22 1060/1051 1119/1013 1051/1060
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Mar 25 VALUE CLOSE BT OB/OS -194.00 +245.00 BT CADI -*****.00 +75.00 BT 10-day MA -*****.00 -19.00 FTSE ST Mid Cap 779.86 +2.93 FTSE ST Small Cap 480.04 +2.28 FTSE ST All Share 819.23 +1.80 FTSE ST China Top 192.69 +1.31 FTSE ST China 232.82 +0.55 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 25,2015 819.23 +1.80 (+0.22%) Current streak 5 days Day high 819.87 Day low 816.22 52-week high 827.11 (Feb 11,2015) 52-week low 754.98 (Mar 25, 2014)
      34 words
    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE Index March 24,2015 1,900.90 +0.06 (+0.00%) Current streak 5 days Day high 1,914.44 Day low 1,897.08 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 7 2 6 0 0 0 7 2 6 Manufacturing 48 35 35 6 5 8 54 40 43 Commerce 19 16 22 6 3 2 25 19 24 Tpt/Stor/Comms 18 10 10
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 16,152 16,152 71,050 71,050 Manufacturing 142,350 39,083 181,433 64,963 4,487 69,450 Commerce 86,985 31,453 118,438 48,101 883 48,984 Tpt/Stor/Comms 117,782 356 118,138 172,035 28 172,063 Finance 28,222 16 28,238 188,526 3 188,530 Construction 39,215 8,461
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    • Article
      Lock icon GAINERS
      76 8 BY CENTS CLOSE UP 52w high/low DBXT MSKorea US$ 5875 95.7 1.2 6735/5484 DBXT MSEurope US$ 6009 68.4 0.8 6492/5366 DBXT MSTHAI US$ 2082 27.3 1.0 2225/1835 Hyflux 6% CPS ***** 20.0 0.2 *****/***** SGX.ES.1503 805 19.0 2.4 805/772 BY PERCENTAGE CLOSE UP 52w high/low NOL MB eCW*****1 0.5
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    • Article
      Lock icon LOSERS
      77 8 BY CENTS CLOSE DOWN 52w high/low DBXT Nifty US$ ***** -408.8 -2.1 *****/***** IS S&P500 US$ ***** -258.4 -0.9 *****/***** DBXT Vietam US$ 2448 -58.8 -1.7 3100/2403 DBXT MSINDO us$ 1454 -19.1 -1.0 1600/1324 Great Eastern 2489 -16.0 -0.6 2600/1850 BY PERCENTAGE CLOSE DOWN 52w high/low Allied Tech 1
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    • Article
      Lock icon UNUSUAL ACTIVITY
      84 8 VOL CLOSE($) CHANGE Yong Xin Intl 362.0 0.011 -0.002 -15.39 Hosen 112.3 0.070 +0.012 +20.69 Changjiang Fert 50.0 0.018 +0.001 +5.88 Fu Yu 8,820.5 0.119 +0.007 +6.25 Hiap Tong 35.2 0.125 +0.016 +14.68 Samko Timber 200.0 0.120 +0.012 +11.11 Darco Water Tech 22,138.9 0.024 +0.002 +9.09 ChinaKangdaFood 60.7
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    • BROKERS’ TAKE
      • Article
        Lock icon NOL
        136 8 Buy Mar 25 close: S$1.01 Target price: S$1.30 Goldman Sachs Equity Research, Mar 25 We continue to favour container over dry bulk given a more favourable supply-demand outlook and industry structure. We are positive on Transpacific exposure over the next 12 months driven by higher volumes and a positive
        136 words
      • Article
        Lock icon SingHaiyi Group
        99 8 Buy Mar 25 close: S$0.145 Target price: S$0.19 RHB Research institute Singapore, Mar 25 We initiate coverage on SingHaiyi with “buy” and a revised net asset value-derived (RNAV) target price of S$0.19. It is a premium property developer/investor with assets in the US and Singapore. Using a value-added
        99 words
      • Article
        Lock icon Ezion Holdings
        189 8  -  Compiled by Cai Haoxiang Buy Mar 25 close: S$1.07 Target price: S$1.83 Maybank Kim Eng Research, Mar 24 We believe the market should not associate Ezion’s resilient liftboat business with offshore drilling. While there have been spurts of contract terminations and charter-rate declines for offshore drilling rigs, enquiries
        189 words
    • Article
      Lock icon CALENDAR
      18 8 DATA I 1pm (March 26) Singapore Industrial Production Index I 9.30pm (March 26) US Initial Jobless Claims
      18 words
    • Article
      Lock icon Euro advances, bolstered by German data
      390 9 CURRENCIES REUTERS London THE euro climbed towards US$1.10 against the dollar on Wednesday and gained against most major currencies, helped by a robust survey of German business morale that added to signs that an economic recovery in the eurozone is strengthening. But with the
      REUTERS  -  390 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Mar 25 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.984 4.890 0.719 6.103 49.031 101.985 0.942 8.675 2.882 1.031 80.289 35.224 1.076 9.277 0.755 24.601 25.607 0.529 0.787 Canada 1.017 4.972
        471 words
      • 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 25 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0756 1.0768 0.7867 0.7872 Canadian dollar 1.0937 1.0948 0.8003 0.7999 Euro 1.4964 1.4976 1.0945 1.0948 NZ dollar 1.0432 1.0441 0.7630 0.7633 Sterling pound 2.0344 2.0363 1.4880 1.4886
        155 words
      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Mar 25 S$ Bid Offer 1-month 1.3680 1.3690 2-months 1.3690 1.3700 3-months 1.3701 1.3712 6-months 1.3730 1.3743 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        374 9 Mar 25 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.75 *****.45 *****.22 Jun15 *****.00 *****.00 *****.00 *****.00 ***** *****1 Sep15 *****.00 *****.00 *****.00 *****.00 0 143 MSCI TAIWAN INDEX FUTURES SPOT 360.80 361.08 357.38 Mar15 360.30 361.00 357.40 358.30 ***** *****1 Apr15 360.60
        374 words
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES Most active
        208 9 Mar 25 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left UOB MB eCW*****1 11.6 0.5 4621 0.1 2380 4 Rowsley Ltd W*****3 2.5 0.1 3752 1 18 19 DBS MB eCW*****5 16.9 0.2 3393 0.1 2050 6
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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 24 Index Change Change Change Change Change Change World Preliminary 1353.7 0.0 6.1 0.0 7.3 0.0 4.0 EAFE Preliminary 1106.6 0.1 12.1 0.1 10.6 0.0 7.1 Europe Preliminary 1559.8 0.2 12.9
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 Mar 25 $S Offer Bid 0vernight 0.05 Par 1-month 0.875 0.75 2-months 0.9375 0.8125 3-months 1.0625 0.9375 Overnight mode: 0.1875 US$ 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
        154 words
      • Article
        Lock icon SIBOR
        36 9 Mar 25 (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
        69 9 Mar 25 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.25 102.28 102.23 5-Year N*****0H 1.625 01-Oct-19 99.49 99.55 99.25 10-Year NY*****H 3.000 01-Sep-24 107.04 107.30 106.05 15-Year NY*****E 2.875 01-Jul-29 105.66 105.65 104.30 20-Year NZ*****V 3.375 01-Sep-33 110.99
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 9 Mar-24 Price Net change change Last Trade Agricultural Mar-24 CBOT Soybeans (US cents/bu) 981.75 -1.75 -0.18% 14/05/2015 CBOT Soybean Oil (US cents/lb) 31.11 -0.04 -0.13% 14/05/2015 CBOT Wheat (US cents/bu) 523.50 -10.50 -1.97% 14/05/2014 Mar-24 LIFFE Cocoa (£/tonne) 1948.00 28.00 1.46% 13/05/2015 LIFFE Coffee (US$/tonne) 1793.00 -20.00 -1.10%
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    • Article
      Lock icon Is short-selling a necessary market evil?
      623 10  -  HOCK LOCK SIEW BY R SIVANITHY sivan@sph.com.sg @RSivanithyBT WHAT is it about short-selling that evokes such strong emotions? Is it because the idea of profiting from fear and wealth destruction is abhorrent? Or is there simply a natural aversion to seeing prices plunge just
      623 words
    • Article
      Lock icon Shangri-La Asia FY14 bottom line hit by lower fair-value gains
      415 10  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore SHANGRI-LA Asia’s net profit dropped almost 54 per cent to US$180.89 million for 2014 as contributions from associates plunged in the face of lower fair-value gains from investment properties. Full-year revenue rose from US$2.08
      415 words
    • Article, Illustration
      Lock icon Brazil’s 3G Capital said to be in talks to buy Kraft
      457 10 BLOOMBERG New York 3G CAPITAL, the Brazilian pri-vate-equity firm, is in advanced talks to acquire Kraft Foods Group Inc and merge it with ketchup maker HJ Heinz, a person with knowledge of the matter said. A deal could be
      BLOOMBERG; PHOTO: BLOOMBERG  -  457 words
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      242 words
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      779 6 Programmes For Advanced Directorships SID SINGAPOR E INSTITUTE OF DIRECTO RS INSEAD The Business School for the World® .V SMU EXECUTIVE DEVELOPMENT Singapore Institute of Directors (SID) is the national association of company directors. It seeks to continually raise professional standards and the effectiveness of boards and directors. SID's professional
      779 words
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      382 10 A STProperty EVENTS STPROPERTY SEMINAR: Strategies to Capitalise on Opportunities and Avoid Pitfalls in the Property Market 2015 i: All prices are inclusive of GST TICKETS NORMAL 1-Day Pass 2-Day Pass $25 $40 "Early bird price ends 30 March 2015 EARLY Bl PD $18 $30 fel T ns ATTEND OUR
      382 words
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      40 10 BuildTech Yangon 2015 Myanmar's Leading Building Technology and Supply Event 27 -29 May 2015 Myanmar Convention Centre Yangon, Myanmar TRANSFOSv AIT3PT cs PRE-REGISTER NOW at wwWibtyangon.cprtOrganised by: sphere A SUBSIDIARYOF sfh To Exhibit, call +65 6319 4037 or email btyangon@sph.com.sg
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      59 10 The Premier Platform for Gifts Sourcing ilSGPFair Singapore Gifts Premiums Fair 2015 29-31 JULY 2015 Marina Bay Sands Expo Convention Centre, Singapore www.SGPFair.com V V V EXHIBIT PROFILE Sports Leisure Trophies Awards Etc. m Interested to exhibit? Tel: (65) 6848 5938 Email: SGPFair@bizlink.com.sg Organised By: BIZLINK Exhibition Services Pte Ltd
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  • REAL ESTATE
    • Article, Illustration
      Lock icon As value emerges, investment in Asian real estate to swell: Colliers
      730 11  -  Colliers expects real estate investment into Asia to rise 102% from US$13.2 billion in 2014, with China the top draw By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore ASIA is expected to see more inbound real estate capital return in 2015,
      Source: Real Capital Analytics  -  730 words
    • Article
      Lock icon Accor’s top 2 investors sell part of holdings
      381 11 REUTERS Paris ACCOR’S top two shareholders, Colony Capital and fellow private equity firm Eurazeo, sold a combined 9.6 per cent stake on Wednesday, nearly halving an investment they held for about a decade in Europe’s largest hotel group. US investment fund Colony
      REUTERS  -  381 words
    • Article, Illustration
      Lock icon High rents push millennials towards home buying
      1186 12 Americans in their 20s and early 30s made up 32 per cent of the US housing market in 2014, up from 28 per cent two years earlier BLOOMBERG Boston AMERICANS in their 20s and early 30s are getting a nudge towards homeownership a
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,186 words
    • Article
      Lock icon Uneven buying activity Down Under
      1328 13  -  Sydney and Melbourne attract more volumes than mining-oriented western Australia AUSTRALIA PROPERTY By Dominic Brown T The writer is head of South East Asia/Australia and New Zealand Research at dtz Commercial real estate THE Australian commercial real estate investment market has been a standout performer
      1,328 words
    • Article
      Lock icon RBA warns easy global monetary policy raises risks of office price fall
      557 13 BLOOMBERG Sydney AUSTRALIA’S central bank said easy monetary policy globally is spurring demand for the nation’s office buildings, even as vacancies climb and rents fall, raising risks of a future price slump. “Prices have continued to rise at
      BLOOMBERG  -  557 words
    • Article
      Lock icon Rising minister takes on Israel’s surging home prices
      876 14 Finance Minister designate Moshe Kahlon may cut real estate tax benefits, disband land authority BLOOMBERG Jerusalem MOSHE Kahlon, who has been designated to become Israel’s next finance minister, has promised to rein in surging home prices the same way that he slashed
      BLOOMBERG  -  876 words
    • Article
      Lock icon Househunt
      1130 14 Property transactions for districts 1 to 28 with contract dates between Feb 11 and Feb 17,2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED Marina Bay Residences Apt 13/02/2015 99 2368 7459 3150 Marina Bay Residences Apt
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    • Article, Illustration
      Lock icon Prominent eye surgeon’s former home up for sale
      323 14  -  By Prisca Ang prisang@sph.com.sg Singapore THE former home of the late eye surgeon and philanthropist Arthur Lim has been put up for sale by expression of interest. With a land area of approximately 12,772 sq ft, the Chancery Hill Road property is
      323 words
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      Lock icon Page 11 Advertisements Column 1
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      330 words
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      223 12 FOR SALE BY TENDER RAINBOW PARADISE BEACH RESORT HOTEL RARE INVESTMENT OPPORTUNITY IN GEORGE TOWN, PENANG, MALAYSIA. P1M Pwaoa V i Kepala Baias V*. Tanjung Subject Property Bungah Permalanq Pauh Air Itam Ills JtLUWNC Butterworth Prai Gelugor r.'T Pirims Prnang Batik Pulau Mert; J WM ANPtlA** KAMPUNG SEBtMNG PAY A
      223 words
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      Lock icon Page 12 Advertisements Column 2
      266 12 Space (d Tampines TOP SOON! Pro m otio n ssmm al From Rates $1 30 Psf Onvv ards Limited Units ONLY! Brand new ramp-up warehouse Available space for lease: > 2,000 sq ft Contiguous units available Opposite IKEA Courts next to TPE High ceiling and regular layout TOP by early
      266 words
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      129 12 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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      40 12 For the 1sttime, fully fitted clinics for lease (limited period only) Flexible clinic sizes ranging from 700 to 1500 square feet For an exclusive viewing, please contact our leasing team 6434 9808 audrey.seen@plpl.com.sg 6434 9832 keith.koh@plpl.com.sg One Orchard Boulevard camden.com.sg
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      345 13 FOR SALE BUILDING D SPARK CITY 167 Victoria Street West, Auckland, New Zealand BUILDING C SOLD BUILDING A SOLD BUILDING B SOLD INVESTMENT HIGHLIGHTS A-Grade, Freehold Auckland CBD commercial building for sale (Building D) Whole building 100% leased to Spark New Zealand for 10 years 5 Green Star rated building
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      167 13 Steinway Gallery Singapore P.if 3 a Steinway becomes a Cherished Member of The Family. Built To Last For Generations Having a Steinway enables a family to mature in music together, from the first tentative scales to the confidence that comes with time and practice. A Steinway epitomizes joy in musical
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  • BANKING & FINANCE
    • Article
      Lock icon Bank of China chief credit officer leaves job
      594 15 Chim Wai Kin’s contract expired and wasn’t renewed, amid pay cuts imposed on senior execs at Chinese lenders BLOOMBERG Shanghai CHIM Wai Kin, the chief credit officer who was Bank of China Ltd’s high-est-paid executive, left his job amid pay cuts being
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      Lock icon US$6b taxi app merger shows rise of China’s boutique investment banks
      795 15 REUTERS Hong Kong WHEN little-known Chinese taxi-hail-ing app Didi Dache needed US$15 million to grow its business two years ago, a local upstart investment bank stepped in to help it raise the funds from social networking giant Tencent Holdings.
      REUTERS; PHOTO: AFP  -  795 words
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      Lock icon HSBC chairman says new rules on banker accountability reasonable
      392 15 REUTERS London NEW rules being rolled out to make bankers more accountable were “entirely reasonable” given the pain Britain suffered in the financial crisis, HSBC chairman Douglas Flint said on Tuesday. The new “senior managers’ regime” will make top bankers directly
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      Lock icon Big Indon banks count on infrastructure deals
      338 15 REUTERS Jakarta INDONESIA’S big, state-run banks are counting on government-led infrastructure projects to revive flagging loan growth as they reduce credit lines to the risky commodities sector and as local businesses delay expansion plans. A more cautious approach to lending since last year
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      352 15 INVEST 1APAN NOW IT’S TIME TO LOOK AT THE JAPANESE MARKET Supported by a strong re-election mandate the Japanese government has accelerated its efforts through the 3 Arrows of Abenomics to further stimulate growth and spur the Japan economy back to sustained recovery. Recent media reports have rekindled confidence in
      352 words
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  • ENERGY & COMMODITIES
    • Article
      Lock icon Morgan Stanley cuts commodities price forecasts
      668 16 China’s dormant industry fails to bolster demand in the world’s biggest consumer of copper and iron ore BLOOMBERG Seoul MORGAN Stanley cut its price forecasts for almost all base metals and bulk commodities as China’s “dormant” industry fails to bolster demand in the world’s
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      Lock icon Record coffee harvest expected in Indonesia after favourable rains
      786 16 BLOOMBERG Jakarta COFFEE farmers in Indonesia, the world’s third-biggest producer of the robusta variety used by Nestle, will probably harvest a record crop in the season starting April after rains boosted yields. Production may increase 18 per cent to 650,000 tonnes
      BLOOMBERG; PHOTO: BLOOMBERG  -  786 words
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      1674 16 The Business Times Ik T I 1 I /“I 1 Toll free 1800-289-8822 I Email noticesasph.com. sg J V i I www.sphclass.com.sg/notices COMFORTDELGRO CORPORATION LIMITED (Incorporated in the Republic of Singapore) (Co. Reg. No.: *****0002K) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Twelfth Annual General Meeting
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      143 16 In the matter of the Companies Act, Cap. 50 and In the matter of ZYLAB ASIA PACIFIC PTE LTD, (In Members' Voluntary Winding Up) Co. Reg No. *****4230N NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50, that the Final Meeting
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  • TECHNOLOGY
    • Article, Illustration
      Lock icon Wall Street stars join Silicon Valley gold rush
      1213 18 Silicon Valley is experiencing a period of blockbuster growth that has created dozens of billion-dollar startups NYT New York ONE of the country’s largest banks, Morgan Stanley, is losing its chief financial officer to Google in the most visible example yet of
      NYT  -  1,213 words
    • Article
      Lock icon Hutchison Whampoa to buy UK mobile network O2 for £10.25b
      863 18 Acquisition intensifies a push into businesses that provide stable income BLOOMBERG Hong Kong LI Ka-shing’s Hutchison Whampoa Ltd agreed to acquire Telefonica SA’s O2 unit in the UK, intensifying a push into businesses that provide stable income as the billionaire
      BLOOMBERG  -  863 words
    • Article
      Lock icon Google calls for more investments in smart phone, broadband networks
      296 18 XINHUA Washington GOOGLE executive chairman Eric Schmidt said Tuesday the smart phone and broadband networks are good investment targets in the next five to ten years. “The entire industry has switched to the smart phone as the access device to
      XINHUA  -  296 words
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      1382 18 The Business Times NOTICES Toll free 1800-289-8822 Email noticestSsph.com.sg www.sphdass.com.sg/notices )<!/<$|=@;,:__?,'-+`<*-%;+$(*|[ CniFIBER UNITED FIBER SYSTEM LTD. UNITED FIBER SYSTEM LIMITED (Company Registration No. *****8589E) (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of United Fiber System Limited (“the
      1,382 words
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      3334 19 iFAST iFAST CORPORATION LTD. (Company Registration Number: *****7899C) (Incorporated in the Republic of Singapore on 11 September 2000) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the Annual General Meeting ("ACM") of the Company will be held at 10 Collyer Quay, #26-01, Ocean Financial *****5 on Friday, 10
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      2275 19 THE BANK OF NOVA SCOTIA (Incorporated in Canada with Limited Liability) Note: All figures quoted in Canadian dollars (millions) except per share amounts CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at October 31 2014 2013 Assets Cash and deposits with financial institutions 56,730 53,338 Precious metals 7,286 8,880 Trading assets Securities
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  • CONSUMER
    • Article, Illustration
      Lock icon Adidas CEO seeks more time for new strategy after two flops
      1046 20 But investors want faster change at the top as the company starts search for his successor BLOOMBERG Berlin SINCE 2008, Adidas chief Herbert Hainer has abandoned two long-term strategy plans after failing to deliver the promised results. This week,
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,046 words
    • Article
      Lock icon It may cost US$99,000 to attend a top business school in US this year
      463 20 BLOOMBERG New York SOME top-ranked business schools are raising tuition fee by between 2 per cent and 10 per cent this fall, bumping up the cost of classes for the 2015-16 academic year to nearly US$66,000
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    • Article
      Lock icon Mattel’s Hello Barbie draws ire of toy critic
      938 20 Doll’s speech-recognition software, web connection said to have the potential to violate children’s privacy BLOOMBERG New York MATTEL Inc’s Hello Barbie, a new doll that can hold Siri-like conversations with children, was meant to help spur a turnaround for the company. Instead,
      BLOOMBERG  -  938 words
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      67 20 H O T PR O PERTY OPTIMA 1959SF MRT doorstep. High flr. 3+1 Penthse. Face pool. $5.5k. Sale/ rent. COSTA DEL SOL sea view 27th flr up, classic, 3rms, 1239sf, $4.6k/ New 1-rm loft, 721sf, $3k. UBER 388 Upper East Coast Rd. Brand New 1 bdrm unit. F/furnished $2500. LOOKING
      67 words
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      3009 21 CHINA AVIATION OIL(SINGAPORE) CORPORATION LTD Incorporated in theRepublicofSingapore Company Registration No.*****3293Z NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 21st Annual General Meeting of the Company will be held at Suntec Singapore International Convention Exhibition Centre, Meeting Rooms 303 and 304, 1 Raffles Boulevard, Singapore *****3 on
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  • GOVERNMENT & ECONOMY
    • Article
      Lock icon Talks on Plan B for IMF reforms emerge
      436 22 Patience wears thin over US Congress’s failure to ratify 2010 reforms AFP Washington WASHINGTON’S block on crucial International Monetary Fund (IMF) reforms has pushed the crisis lender into discussions of other options, with one proposal potentially slashing US voting power nearly in
      AFP  -  436 words
    • Article
      Lock icon IMF inclusion of yuan ‘very live’ issue, says UK official
      412 22 REUTERS Beijing BRITAIN weighed in on Tuesday to the debate on anointing the yuan as a major reserve currency, saying the issue was “very live” after Beijing asked the International Monetary Fund to include the currency in its Special Drawing
      REUTERS  -  412 words
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      Lock icon Cheap eurozone takeaway fuels Chinese acquisitions
      706 22 AFP Beijing THE inexorable decline of the single currency offers ambitious Chinese firms a bargain buffet of eurozone business, analysts say, with this weekend’s multibillion deal for Italian tyremaker Pirelli only the latest course in an acquisition binge. Less than a year ago the
      AFP; PHOTO: BLOOMBERG  -  706 words
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      Lock icon ECB’s purchase of ABS pays off as prices rise
      833 24 Rates at highest levels in more than seven years spur banks to offload bonds BLOOMBERG Brussels EUROPEAN Central Bank (ECB) president Mario Draghi’s plan to stimulate Europe’s economy by buying assetbacked securities (ABS) is starting to show signs of working. The
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      Lock icon OECD report identifies multiple challenges faced by Indonesian economy
      715 24  -  By Anthony Rowley Tokyo INDONESIA has earned a barely-pass-ing grade for certain aspects of the country’s economic management in a survey published on Wednesday by the Organisation for Economic Cooperation and Development (OECD). The Paris-based agency’s Economic Survey of Indonesia, presented
      PHOTO: AFP  -  715 words
    • Article
      Lock icon Weak Feb business spending data points to Q1 slowdown
      571 24 Softer growth could prompt Fed to delay rate hike until later in the year LATEST US DATA REUTERS Washington US business investment spending plans fell for a sixth straight month in February, likely to have been weighed down by a strong
      REUTERS  -  571 words
    • Article
      Lock icon EU imposes anti-dumping duties on stainless steel from China, Taiwan
      448 24 REUTERS Brussels THE European Union will impose an-ti-dumping duties from Thursday on imports of cold-rolled stainless steel sheet from China and Taiwan, according to a notice on Wednesday in the EU’s Official Journal. The EU will apply tariffs of up
      REUTERS  -  448 words
    • Article
      Lock icon China approves free-trade zones in Guangdong, Fujian and Tianjin
      324 24 AFP Shanghai CHINA has given the go-ahead for three more free-trade zones, state media reported, despite the country’s first project in Shanghai proving disappointing 18 months after its establishment. A meeting of the Communist Party’s politburo hosted by President Xi Jinping
      AFP  -  324 words
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      2509 22 SINGAPORE REINSURANCE CORPORATION LIMITED (Incorporated in the Republic of Singapore) Company Registration No. *****0016C NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 42nd Annual General Meeting of the Company will be held at Taurus, Level 1, Marina Mandarin Singapore, 6 Raffles Boulevard, Marina Square, Singapore *****4 on
      2,509 words
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      1555 23 M A G N U S E N E R G Y MAGNUS ENERGY GROUP LTD. (Incorporated in the Republic of Singapore) (Company Registration No. *****1375M) NOTICE OF EXTRAORDINARY GENERAL MEETING Unless otherwise defined or the context otherwise requires, all capitalised terms herein shall bear the same meaning as used
      1,555 words
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      2950 23 G. K. GOH HOLDINGS LIMITED (Company Registration No. *****0184D) (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Twenty-sixth Annual General Meeting of G. K. Goh Holdings Limited (the “Company”) will be held at Cinnamon Room, Novotel Singapore Clarke Quay 177A River
      2,950 words
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      3454 25 Keppel Corporation Limited Co Reg No: *****0351N (Incorporated in the Republic of Singapore) Notice of Annual General Meeting and Closure of Books NOTICE IS HEREBY GIVEN that the 47th Annual General Meeting of the Company will be held at Raffles City Convention Centre, Stamford Ballroom (Level 4), 80 Bras Basah
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  • TRANSPORT
    • Article, Illustration
      Lock icon Rescuers struggle to recover bodies in French Alps crash
      864 26 Investigators are also racing to establish the cause of a crash that didn’t follow any typical disaster pattern BLOOMBERG Seyne-les-Alpes, France FRENCH helicopters searched for bodies and wreckage of the Airbus A320 that crashed in rugged terrain in the French Alps
      BLOOMBERG; PHOTO: AFP  -  864 words
    • Article
      Lock icon Rig operator Seadrill eyes assets amid downturn
      683 26 BLOOMBERG Oslo BILLIONAIRE John Fredriksen has sailed through troubled waters before. This time, he plans to make the most of a brutal downturn in offshore drilling amid a slump in oil prices and a glut of new rigs. Seadrill Ltd said last month
      BLOOMBERG  -  683 words
    • Article, Illustration
      Lock icon South Asian beaches target of new EU ship recycling rules
      701 26 REUTERS Brussels EUROPEAN, Turkish and Chinese recyclers are set to benefit from strict new EU rules on breaking up old ships, but the practice of dismantling them on beaches in South Asia at great human and environmental cost will still
      REUTERS; PHOTO: BLOOMBERG  -  701 words
    • Article
      Lock icon Weak rupiah driving Japanese carmakers to expand in Indonesia
      405 26 REUTERS Jakarta THE rupiah’s descent to a 17-year low is building the case for Japanese carmakers to focus on rolling out cheaper, locally made sedans and multi-pur-pose vehicles (MPVs), rather than fighting for a bigger slice of Indonesia’s languid market for
      REUTERS  -  405 words
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    997 27 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville Hyundai Bridge 301E 01 Apr 06 May 22 May 25 May 29 May 30 May 02 Jun 05 Jun 10 Jun 12 Jun 12
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      187 27 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 < Announce Your Corporate Development
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  • OPINION
    • Article
      Lock icon Germanwings air crash puts spotlight back on flight safety
      595 28 THE shocking crash of a German jetliner in the French Alps on Tuesday, killing all 150 passengers on board, is another body blow to the aviation industry. EDITORIAL The tragedy, involving the budget airline of Germany’s national carrier Lufthansa, is the
      595 words
    • Article
      Lock icon Grand bargain shaping up between China, US and IMF
      783 28  -  THE BOTTOM LINE By David Marsh OMFIF A “GRAND BARGAIN” between China, the US and the International Monetary Fund (IMF) seems to be shaping up under which Beijing may be about to enter the heart of global finance in exchange for
      OMFIF  -  783 words
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      Lock icon MORE NEEDED FOR YUAN TO GO GLOBAL
      1187 28  -  China needs to open up its domestic market so that its currency can flow freely between that and the rest of the world, hastening its emergence as an investment currency. BY TONY LEWIS BY TONY LEWIS T The writer is head of HSBC
      PHOTO: AFP  -  1,187 words
    • Article
      Lock icon What I learnt from Lee Kuan Yew
      914 29  -  Lee Kuan Yew’s emphasis on the power of strategic thinking, having a plan, and looking around the bend were things I tried to incorporate when I was elected Governor of Utah. COMMENTARY By Jon M Huntsman Jr T Jon M Huntsman, Jr, is
      914 words
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      Lock icon Why Singapore’s extraordinary leader will be missed
      821 29  -  By Steve Forbes T The writer is chairman and editor-in-chief of Forbes Media LEE Kuan Yew was one of the great statesmen of the post-WWII era. He made Singapore an economic powerhouse, demonstrating that so-called natural resources aren’t necessary for prosperity, that the
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      Lock icon Vietnam legacy has lessons for anti-Americanism today
      1052 29  -  The relative decline of the United States and the perceived shift in the global balance of power with the rise of the Middle Kingdom are new factors at play. BY ANDREW HAMMOND BY ANDREW HAMMOND T The writer is an associate at LSE
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon Rio in adrenalin-driven Olympic race
      706 30 Olympics panel satisfied amid row over pollution in yachting arena and choice of golf course site AFP Rio de Janeiro WITH Tuesday marking 500 days to go before it stages South America’s first ever Olympic Games, Rio is straining at the leash to be ready
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    • Article, Illustration
      Lock icon A Picasso up for auction has dizzying value
      607 30 NYT New York A PICASSO painting valued at about US$ 140 million is the centrepiece of a new type of auction at Christie’s, combining modern and contemporary artworks spanning 100 years, that will kick-start its postwar and contemporary sales in New York
      NYT; PHOTO: 2015 ESTATE OF PABLO PICASSO/ARTISTS RIGHTS SOCIETY, NEW YORK  -  607 words
    • Article
      Lock icon BBC drops ‘Top Gear’ host Clarkson
      346 30 AFP London THE BBC said on Wednesday it would not renew the contract of Jeremy Clarkson, the lead presenter of its popular motoring programme Top Gear who was suspended after a “fracas” with a producer. The BBC said earlier Mr Clarkson was suspended after
      AFP  -  346 words
    • Article
      Lock icon Cutting in on China’s ‘dancing grannies’
      714 30 NYT Beijing THE offenders usually emerge at dusk, occupying prime real estate in public plazas or parks as they sashay to treacly Chinese pop tunes with their synchronised dance moves. In recent years, these cardiganclad packs of “dancing grannies”, as they are known, have
      NYT  -  714 words
  • Page 30 Miscellaneous
    • Miscellaneous
      Lock icon Page 30 Miscellaneous Column 1
      335 30 CRYPTIC CROSSWORD Across 1 To suppress frauds they’ll be needed in court (6,7) 10 Dot three i’s in various places, many being silly (7) 11 Photograph way-out couples (5-2) 12 Amphibians with feet going in two directions (4) 13 Hit 150 before getting dismissed (5) 14 Duck! It’s Captain Hook’s
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