The Business Times, 1 April 2015

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Microfilm: NL33462
Total Pages: 28
1 28 The Business Times
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  • Title Section
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    24 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G C ©BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 Wednesday, April 1,2015
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  • DAILY DIGEST
    • Article
      Lock icon Five newsmen
      32 1 were the latest to be hauled up under sedition charges in Malaysia, bringing the tally to over 100 politicians, activists, lawyers, journalists and academics detained in recent months.TOP STORIES 2
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    • Article
      Lock icon Bank lending in February
      24 1 fell from a month ago, dragged by a contraction in business loans for the third straight month. TOP STORIES 4
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    • Article
      Lock icon While 97% of job-seekers
      24 1 would consider leaving Singapore to work overseas, SMEs sometimes face an uphill task convincing staff to relocate overseas.TOP STORIES 5
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    • Article
      Lock icon Keppel Corp did not hit
      26 1 the compulsory acquisition threshold required for the higher offer price for the Keppel Land buyout to kick in. COMPANIES MARKETS 7
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    • Article
      Lock icon Chinese shipbuilder JES
      21 1 International’s loss widened to 222.48 million yuan in the fourth quarter ended Dec 31, 2014. COMPANIES MARKETS 8
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    • Article, Illustration
      Lock icon HSBC is falling short
      24 1 on its agreement with the US to clean up operations after clients laundered drug money, sources say. BANKING FINANCE /14
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    • Article
      Lock icon Amid the overhang of rising interest rates,
      22 1 optimism for gold is picking up with prices expected to move higher. ENERGY COMMODITIES 16
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    • Article
      Lock icon The Chinese government
      26 1 has long used a sophisticated set of Internet filters as a barrier to prevent its citizens from obtaining access to foreign websites.TECHNOLOGY 17
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    • Article
      Lock icon Rap mogul Jay Z
      18 1 has launched the rebranded Tidal music streaming service with major star backing. CONSUMER 18
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  • Article
    Lock icon Come April 7, a whole new way to shop for life insurance products
    718 1  -  Consumers can compare over 200 policies online; suite of basic products also launched By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore SHOPPING for a life insurance product in Singapore will see a fundamental change this month when consumers can
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  • Article
    Lock icon MARKETS
    26 1 Tuesday Change STI 3,447.01 -7.25 KL COMP 1,830.78 +8.95 NIKKEI 225 19,206.99 -204.41 HANG SENG 24,900.89 +45.77 SHENZHEN B 1,158.64 -1.01 DOW(noon EDT) 17,857.93 -118.38
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  • Article
    Lock icon Taxi fare structure to be standardised
    875 1  -  Only flag-down fares will be allowed to differ from operator to operator By Samuel Ee samuelee@sph.com.sg Singapore SOME parts of the taxi fare structure will be standardised to prevent taxi fares from becoming even more complicated in the future. After consulting commuters, taxi drivers
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      14 1 Hill 8 '*****1 *****4 LEADERSHIP CONFERENCE Fiscal sustainability important going forward TOP STORIES 4
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      124 1 MOTORING More less-expensive Cat B cars registered TOP STORIES 5 BLUE-SWAYED SKEW Blue chips lift Singapore’s market cap in March companies markets 6 WHY DO COMPANIES MAKE ATTENDING AGMs SO TOUGH? OPINION PAGE 25 SEVEN PALMS frrW 111 M I SjK jr. ~mk I •N ,V; 'frlAlL it Mil! h^vJjvlA.
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    • Advertisement
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      17 1 DISPARATE BIDS Lend Lease’s top bid in Paya Lebar honed by its Jurong experience REAL ESTATE 12
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  • TOP STORIES
    • Article
      Lock icon KL detains chiefs of The Edge, Malaysian Insider
      731 2  - KL detains chiefs of The Edge Malaysian Insider Latest arrests under Sedition Act bring to over 100 the number of people held over recent months By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore IN one of the biggest crackdowns in Malaysia’s recent history, five seasoned newsmen were the latest to be hauled
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    • Article, Illustration
      Lock icon Malaysians go on shopping spree before GST kicks in
      634 2  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur IN a last-ditch attempt to save a few bucks, Malaysians have gone on a buying spree ahead of the implementation of a 6 per cent Goods Services Tax (GST) from Wednesday. Over-flowing trolleys, empty shop
      PHOTO: THE STAR  -  634 words
    • Article
      Lock icon Consumer confidence climbs to second-highest since 2007
      441 2 LATEST US DATA BLOOMBERG Washington CONSUMER confidence increased in March to the second-highest level since August 2007 as Americans grew more upbeat about the outlook for the labour market and incomes. The Conference Board’s index of sentiment climbed to 101.3 from 98.8 in
      BLOOMBERG  -  441 words
    • Article
      Lock icon PICTET
      270 2 Pictet-Absl Rtn Fxd Inc-HP EUR 26/03/2015 EUR 104,42 Pictet-Absl Rtn Glo Div-P EUR 26/03/2015 EUR 121,72 Pictet-Asian Equities Ex Japan-P USD 27/03/2015 USD 205,77 Pictet-Asian Local Currency Debt-P USD 27/03/2015 USD 147,22 Pictet-Biotech-P USD 26/03/2015 USD 768,99 Pictet-Clean Energy-P USD 26/03/2015 USD 86.99 Pictet-Digital Communication-P USD 26/03/2015 USD 222,21
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    • Article, Illustration
      Lock icon Fiscal sustainability the focus at conference
      800 4  -  Discussions home in on the legacy of Albert Winsemius and the value of sustainable business practices By Prisca Ang prisang@sph.com.sg Singapore IF SINGAPORE is to be a sustainable society, it needs to address the growing disconnection between the people’s expectations and government policies, said
      PHOTO: ARTHUR LEE  -  800 words
    • Article, Illustration
      Lock icon Japan becomes isolated as it continues spurning China-led infrastructure lender
      1225 4  -  By Anthony Rowley btworld@sph.com.sg Tokyo JAPAN has become effectively isolated as it continues to resist joining the proposed China-led Asian Infrastructure Investment Bank (AIIB), which it sees as a rival to the Asian Development Bank (ADB), in which it is
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    • Article
      Lock icon Bank lending slides again in February
      442 4  -  loans down 0.6 per cent from January By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore BANK lending in February fell from a month ago, dragged by a contraction in business loans for the third straight month that reflects persistent weakness from trade loans. Loans through the
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    • Article
      Lock icon More less-expensive Cat B cars registered
      709 5  -  The vehicle-financing curbs, tiered registration tax and high COEs are affecting buying patterns in Cat B By Samuel Ee samuelee@sph.com.sg Singapore THE recategorisation of Certificate of Entitlement (COE) Category A a year ago has led not only to the median Open Market Value (OMV)
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    • Article
      Lock icon 97% of Singaporeans would consider working overseas: Hays survey
      608 5  -  But hard for some SMEs to relocate staff By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore WHILE a whopping 97 per cent of Singapore job-seekers polled said they would consider leaving Singapore to work overseas, small and medium-sized enterprises (SMEs) sometimes face an
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  • Page 2 Advertisements
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      Lock icon Page 2 Advertisements Column 1
      310 2 "Winners Don't Do Different Things, They Do Things Differently/'® YOU CAN WIN B YOU CANT WIN® Sold over 3l2 million copies OPTIMIZE PERFORMANCE HI-IMPACT LEADERSHIP Blueprint for Success Grow by creating a culture of Trust Accountability Build powerful teams that go the extra mile Learn the art of problem solving
      310 words
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      28 4 Blow your own trumpet Buy new musical instruments or put up your old ones for sale in CLASS 72 To advertise, call the Print Classified Hotline: 1800-289 9988
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      64 5 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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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Blue chips lift S’pore market cap in March
      929 6  -  Total value of S’pore-listed stocks climbs 0.8 per cent from February to an all-time month-end high of S$987.5 billion By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore THE total value of Singapore-listed stocks gained modestly in March on the shoulders of the largest companies
      Compiled by The Business Times  -  929 words
    • Article
      Lock icon MDIS acquires Service Quality Centre for S$5m
      287 6  -  By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore MDIS Corporation, a subsidiary of the Management Development Institute of Singapore (MDIS), has acquired Service Quality Centre (SQC) for S$5 million. Established in 1990, SQC was founded by Singapore Airlines and SPRING Singapore as part of the
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    • Article
      Lock icon KepCorp fails to hit compulsory acquisition threshold
      461 7  -  It bags 95.1% of KepLand as at March 31 despite extending closing date By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THE verdict is out: Keppel Corp has failed to hit the compulsory acquisition threshold required for the higher offer price of S$4.60 per share
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    • IN BRIEF
      • Article
        Lock icon A-Reit divests Senoko Way property for S$24.8m
        96 7 ASCENDAS Real Estate Investment Trust (A-Reit) is returning 26 Senoko way to JTC Corp for S$24.8 million. This represents a 60 per cent premium over the S$15.5 million that was paid for the two-storey building with a four-storey extension block in 2007. The
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      • Article
        Lock icon MLT expands Japan asset to support tenant
        171 7 MAPLETREE Logistics Trust (MLT) will be undertaking an asset enhancement initiative (AEI) for an asset in Japan at a cost of 1.409 billion yen (S$16.1 million), to support the expansion of an existing tenant. Moriya Centre in ibaraki comprises two warehouse blocks, leased
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    • Article, Illustration
      Lock icon Deflation risks could be overstated: investment strategist
      748 7  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore AS INTEREST rates fall to record lows, and deflation and low-growth fears increase, investors in bonds and stocks still see opportunities in many places. Deflation risks could be overstated, said Kevin Gardiner, global investment strategist at Rothschild
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    • Article
      Lock icon JES International’s Q4 loss increases to 222.48m yuan
      442 8  -  Loss for FY2014 narrows to 290.47m yuan from 552.19m yuan in FY2013; group plans to restructure its subsidiaries By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore CHINESE shipbuilder JES International’s loss widened to 222.48 million yuan (S$49.34 million) in the fourth quarter ended Dec
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    • Article
      Lock icon S’pore rig owners have room to sink some more: KGI Fraser
      470 8  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore THE already dampened shares of Singapore-listed rig and offshore support vessel (OSV) owners could sink even further as their seemingly secure long-term contracts turn shaky, brokerage KGI Fraser cautioned in a report on
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    • Article
      Lock icon Softbank acquires 19.9% stake in Polaris-linked PT Trikomsel
      400 8  -  By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore SGX-listed Polaris Ltd said on Tuesday that the Japanese SoftBank Group has acquired a 19.9 per cent stake in its Indonesian associate company, PT Trikomsel Oke Tbk. Polaris is in the business of distribution and
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    • Article, Illustration
      Lock icon STI / Catalist
      63 10 STI Catalist Straits Times index March 31,2015 3,447.01 -7.25 (-0.21%) Current streak 1 day Day high 3,469.02 Day low 3,442.44 52-week high 3,454.26 (Mar 30, 2015) 52-week low 3,154.21 (Oct 16, 2014) ftse ST Catalist index March 31,2015 699.51 -2.36 (-0.34%) Current streak 1 day Day high 707.66 Day low
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    • Article, Illustration
      Lock icon STI weakens on the day, gains 2.4% for Q1
      621 10  -  Quarter ending push fails to materialise; turnover improves with average value of unit done at S$1 STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT FOR all of Tuesday, the final trading day of the first quarter, trading was relatively quiet and boring pretty
      Source: Bloomberg  -  621 words
    • Article
      Lock icon STI STOCKS
      317 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 259 +3 260/256 263 219 5.5 6548.4 CapitaLand 358 -7 367/358 371 289 13.1 2.5 *****.2 CapitaMall Trust 220 +2 221/218 226 188.5 4.9 7631.8 CityDev 1006 cd -12 1017/1004 1118 915
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    • Article
      Lock icon MOST ACTIVE
      36 10 VOLUME SinoConstruction 111,325,400 IHC 52,931,700 SIIC Environment 42,282,700 HPH Trust USD 38,319,500 CCFH 36,899,300 Market volume 1,544,693,000 VALUE Singtel 110,111,532 DBS Grp 95,873,902 UOB 90,220,661 Global Logistic 71,948,142 OCBC Bank 69,062,477 Market value 1,405,664,000
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    • Article
      Lock icon SGX ETFs Most Active
      110 10 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS India US$ US769 +1 594 778/769 1000/636 769/770 96.1 UETF SSE50China 265 +2 168 271/262 271/140 265/266 82.8 STI ETF 343 -2 109 346/343 349/319 343/345 Lyxor Japan US$ US127.3 -2.9 59 127.4/127.3 130.5/110
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 10 Mar 31 VALUE CLOSE BT OB/OS 249.00 +75.00 BT CADI -*****.00 -40.00 BT 10-day MA -*****.00 +25.00 FTSE ST Mid Cap 782.81 -1.37 FTSE ST Small Cap 485.20 -1.15 FTSE ST All Share 825.48 -1.70 FTSE ST China Top 195.83 +0.53 FTSE ST China 237.12 +1.45 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 10 STI FTSE ST All-Share ftse ST All-Share index March 31,2015 825.48 -1.70 (-0.21%) Current streak 1 day Day high 830.34 Day low 824.96 52-week high 827.18 (Mar 30, 2015) 52-week low 762.71 (Oct 16, 2014)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 10 STI MSCI EAFE MSCI EAFE index March 30,2015 1,871.18 +1.35 (+0.07%) Current streak 1 day Day high 1,876.90 Day low 1,861.32 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 3 8 0 0 0 6 3 8 Manufacturing 46 51 36 5 7 8 51 58 44 Commerce 18 24 21 3 11 1 21 35 22 Tpt/Stor/Comms 10 19 10
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 22,812 22,812 102,785 102,785 Manufacturing 132,265 67,094 199,359 103,390 4,667 108,057 Commerce 71,201 59,873 131,074 90,804 2,136 92,940 Tpt/Stor/Comms 132,599 2,831 135,430 244,049 191 244,240 Finance 21,863 473 22,336 289,621 118 289,739 Construction 131,896 12,891
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    • Article
      Lock icon GAINERS
      79 10 BY CENTS CLOSE UP 52w high/low DBXT Nifty US$ ***** 261.3 1.4 *****/***** DBXT CSI300 US$ 1170 42.6 2.7 1170/615 Jardine C&C 4106 34.0 0.8 4901/3850 Lyxor ChinaH US$ 1716 31.6 1.4 1724/1280 Lyxor Europe US$ 1488 26.1 1.3 1678/1338 BY PERCENTAGE CLOSE UP 52w high/low KLW W*****0 0.2
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    • Article
      Lock icon LOSERS
      79 10 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -123.8 -0.8 *****/***** DBXT Vietam US$ 2404 -75.6 -2.2 3100/2388 JSH USD 3500 -72.9 -1.5 3810/3233 DBXT S&P Short US$ 2190 -27.5 -0.9 2602/2117 UOB 2300 -23.0 -1.0 2472/2102 BY PERCENTAGE CLOSE DOWN 52w high/low S Chance Prop W***** 0.6
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    • Article
      Lock icon UNUSUAL ACTIVITY
      83 10 VOL CLOSE($) CHANGE China Env Res 65.0 0.046 +0.020 +76.92 SinoConstruction 111,325.4 0.047 +0.012 +34.29 Informatics 7,920.4 0.045 +0.008 +21.62 HL Global Ent 223.5 0.030 +0.008 +36.36 United Food 750.0 0.074 +0.009 +13.85 Next-Gen Sat 3,866.0 0.003 +0.001 +50.00 GDS Global 53.5 0.380 +0.030 +8.57 Rowsley 28,913.5 0.183
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    • BROKERS’ TAKE
      • Article
        Lock icon Sembcorp Marine | Hold
        119 10 Sembcorp Marine Hold March 31 close: S$2.92 Target price: S$2.93 DBS Group Research, March 31 Sembcorp Marine (SMM) has entered into an exclusive letter of intent (LOI) with Heerema Offshore Services BV for the engineering and construction of a new semisubmersible crane vessel (NSCV). NSCV will be the largest crane
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      • Article
        Lock icon Sembcorp Marine | Reduce
        110 10 Sembcorp Marine Reduce March 31 close: s$2.92 Target price: S$2.82 CIMB Research, March 31 it took almost a year for Hereema to enter into an exclusive letter of intent (LOI) with Sembcorp Marine (SMM) since the bid opened on June 14. We believe negotiations on pricing are still ongoing and
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      • Article
        Lock icon Hotel Properties | Buy
        242 10  - Hotel Properties Buy Compiled by Kenneth Lim March 31 close: S$4.15 Target price: S$5.32 OCBC Investment Research, March 31 Hotel Properties (HPL) announced that it has acquired a 30 per cent interest in Bankside Quarter (Jersey) Limited (BQJ) to purchase two properties, Ludgate House and Sampson House, located in Bankside,
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    • Article
      Lock icon CALENDAR
      21 10 DATA I April 1 Singapore Private residential property price index flash estimate I 8pm (April 1) US MBA Mortgage Applications
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    • Article
      Lock icon Euro heads for worst quarter ever
      432 11 CURRENCIES REUTERS London THE euro skidded to a 10-day low against the dollar on Tuesday, leaving it on track for its worst quarter ever, as investors bet that the monetary policies of the eurozone and the United States would increasingly diverge. The euro has
      REUTERS  -  432 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 11 Mar 31 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.969 4.716 0.708 5.899 47.604 99.449 0.915 8.440 2.819 1.019 77.501 34.006 1.046 9.282 0.741 23.818 24.762 0.515 0.761 Canada 1.032 4.867
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      • Article, Illustration
        Lock icon HANG SENG
        2 11
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      • Article, Illustration
        Lock icon NIKKEI
        1 11
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 11
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      • Article, Illustration
        Lock icon DOW JONES
        2 11
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 11 Mar 31 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0460 1.0463 0.7607 0.7608 Canadian dollar 1.0795 1.0800 0.7853 0.7851 Euro 1.4780 1.4787 1.0748 1.0752 NZ dollar 1.0266 1.0271 0.7466 0.7468 Sterling pound 2.0305 2.0313 1.4766 1.4770
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 11 Mar 31 S$ Bid Offer 1-month 1.3760 1.3765 2-months 1.3769 1.3774 3-months 1.3778 1.3783 6-months 1.3805 1.3810 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        395 11 Mar 31 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.35 *****.82 *****.60 Apr15 *****.50 *****.00 *****.50 *****.00 *****8 *****6 May15 *****.50 *****.00 *****.00 *****.00 6 67 NIKKEI 225 INDEX FUTURES SPOT *****.43 *****.25 *****.99 Jun15 *****.00 *****.00 *****.00 *****.00 ***** *****0 Sep15
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES Most active
        214 11 Mar 31 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 3.3 0.8 ***** 1 18 19 DBS MB eCW*****5 17.4 -0.2 8195 0.1 2050 6 Second Chance Prop W*****4 0.6 -0.4 6043 1 40
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 11 In local curr In S$ In US$ dy yr dy yr dy yr Mar 30 Index Change Change Change Change Change Change World Preliminary 1341.4 0.9 5.1 1.0 6.5 0.6 2.7 EAFE Preliminary 1096.8 0.7 11.1 0.5 9.4 0.1 5.4 Europe Preliminary 1550.2 1.1 12.2
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 11 Mar 31 $S Offer Bid 0vernight 0.20 0.10 1-month 0.875 0.75 2-months 0.9375 0.8125 3-months 1.0625 0.95 Overnight mode: 0.20 US$ 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 11 Mar 31 (S$) 1 mth 0.***** 2 mths 3 mths 1.***** 6 mths 1.***** 9 mths 12 mths 1.***** SWAP Offer rates (S$) 1 mth 1.***** 3 mths 1.***** 6 mths 1.***** Source: Thomson Reuters
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      • Article
        Lock icon GOVERNMENT SECURITIES
        65 11 Mar 31 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.1 5-Year N*****0H 1.625 01-Oct-19 99.1 10-Year NY*****H 3.000 01-Sep-24 106.12 106.35 105.90 15-Year NY*****E 2.875 01-Jul-29 104.04 103.90 103.65 20-Year NZ*****V 3.375 01-Sep-33 108.97 108.80 108.60 30-Year NA*****N
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 11 Mar-30 Price Net change change Last Trade Agricultural Mar-30 CBOT Soybeans (US cents/bu) 967.75 0.50 0.05% 14/05/2015 CBOT Soybean Oil (US cents/lb) 30.49 -0.11 -0.36% 14/05/2015 CBOT Wheat (US cents/bu) 530.25 22.50 4.43% 14/05/2014 Mar-30 LIFFE Cocoa (£/tonne) 1903.00 -18.00 -0.94% 13/05/2015 LIFFE Coffee (US$/tonne) 1697.00 -66.00 -3.74%
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  • Page 6 Advertisements
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      Lock icon Page 6 Advertisements Column 1
      438 6 Relish the F EASTER pring over to 10 at Claymore this Easter for a spectacular brunch and savour epicurean delights such as eight types of fresh seafood on ice, including and from France, Canada and America. Other highlights include a curated cheese selection, hearty bistro fare, carving station of and
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      64 7 golf?Love preview Hit the T!GER’S got the y!ps! says former coach Hank Haney ROHIT BRIJNATH The Masters will not be the same with a fading Tiger VEN SREENIVASAN The golf industry in Singapore needs a reboot RORY The new model of greatness sweet spot with Swing, a new monthly special
      64 words
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      Lock icon Page 7 Advertisements Column 2
      328 7 Moore Stephens BNP PARIBAS Singapore Shipping Forum 2015 Shipping 2020 and Beyond Moore Stephens Singapore is proud to present the Moore Stephens BNP PARIBAS, Singapore Shipping Forum 2015 Shipping 2020 and Beyond on Thursday, 23 April 2015 at InterContinental Hotel. This forum is held in conjunction with the Singapore Maritime
      328 words
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      368 8 STProperty EVENTS STPROPERTY SEMINAR Strategies to Capitalise on Opportunities and Avoid Pitfalls in the Property Market 2015 All prices are inclusive of GST m f" =59 I S i ATTEND OUR SEMINAR FOR A CHANCE TO WIN A SAMSUNG GALAXY NOTE 4! Seminar fee includes refreshments buffet lunch at Suntec
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      2915 9 Sembcorp Marine Ltd Company Registration No. *****0098Z (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the 52ndAnnual General Meeting of Sembcorp Marine Ltd (the “Company”) will be held at 29 Tanjong Kling Road, Singapore *****4 on 17 April 2015 at 11.00 a.m.
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      1695 9 Sembcorp Marine Ltd Company Registration No. *****0098Z (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Sembcorp Marine Ltd (the “Company”) will be held at 29 Tanjong Kling Road, Singapore *****4 on 17 April 2015 at 11.15 a.m.
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Lend Lease’s top bid in Paya Lebar honed by its Jurong experience
      871 12  -  Big guns from Singapore, overseas out in force, but divergence in bids points to disparate reading of market By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore AUSTRALIAN group Lend Lease’s top bid on Tuesday for the Paya Lebar Central site
      Source: URA  -  871 words
    • Article, Illustration
      Lock icon Beijing’s property stimulus measures fail to impress banks
      634 12 REUTERS Shanghai AS stock market investors cheer China’s latest bid to boost an ailing housing sector, bankers are gritting their teeth over the risks they face in further relaxing rules on lending to home buyers. Alarmed by persistent weakness in the property
      REUTERS; PHOTO: BLOOMBERG  -  634 words
    • Article
      Lock icon Blackstone to buy 3 US hotel resorts for US$1.3b: source
      328 12 BLOOMBERG New York BLACKSTONE Group LP has agreed to buy three high-end US resorts for about US$ 1.3 billion from a group led by Paulson Co, according to a person with knowledge of the transaction. The properties are the JW
      BLOOMBERG  -  328 words
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      Lock icon Wanda eyes hotels, tourism as real estate slows
      438 12 REUTERS Hong Kong DALIAN Wanda Commercial Properties Co Ltd on Tuesday said it plans to invest in one to two overseas hotel projects annually, spending up to US$ 1 billion on each, as it pushes into tourism and entertainment while domestic real
      REUTERS  -  438 words
    • Article
      Lock icon US housing market shows no sign of bubble
      506 13 New leading index shows the national market is in its best shape since 2001 with no big price swings seen BLOOMBERG New York WHEN a parking space in Manhattan costs US$136,000 and only 15 per cent of San Francisco’s homes are affordable
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      Lock icon Historic clock tower in Queens helps adjacent skyscraper project
      1060 13 NYT New York THE hands have not moved in decades, and the lights behind them went dark a year ago. But the gargoyles still glower atop the Long Island City clock tower, alongside its castellated turret, copper windows and granite shields.
      NYT; PHOTO: ULI SEIT/NYT  -  1,060 words
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      190 12 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
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      196 13 A FREEHOLD PROPERTY WITH A TIMELESS DESIGN IS WORTH INVESTING ANYTIME. Live the high life at Amber Skye. A 22-storey luxury residential development with an iconic Italian design, in the prime District 15. This is the beginning of anything you want. OWNERSHIP HAS ITS PRIVILEGES 109 units of freehold exclusivity
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  • BANKING & FINANCE
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      Lock icon HSBC slow to fix compliance lapses: report
      694 14 Court-appointed monitor’s report raises doubts on effectiveness of government’s use of deferred and non-prosecution agreements BLOOMBERG New York HSBC Holdings Plc is falling short on its agreement with the US to clean up operations after clients laundered drug money and did business with
      BLOOMBERG; PHOTO: REUTERS  -  694 words
    • Article
      Lock icon Macquarie to cut half of Asia investment jobs
      740 14 BLOOMBERG Hong Kong MACQUARIE Group Ltd plans to cut about half of its investment-banking workforce in Asia as chief executive officer Nicholas Moore reshapes the firm, people familiar with the matter said. About 80 to 90 jobs would be eliminated in the
      BLOOMBERG  -  740 words
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      Lock icon BOE outlines parameters of 2015 stress tests
      654 14 NYT London THE Bank of England said that it would test major British banks on their potential performance against financial shocks including a global slowdown, a sharp drop in inflation and a reduction in worldwide appetite for risk. This year’s test is intended
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    • Article
      Lock icon Banks may face new rules to cover risk as interest rates go up
      800 14 BLOOMBERG Brussels BANKS face a push from international regulators for stiffer rules on the capital needed to handle an increase in interest rates. The Basel Committee on Banking Supervision is weighing updating its standards for capturing interest
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      17 15 Beef Up Your Finances Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your IPOs other offerings
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      1392 15 Incorporated in the Republic of Singapore Company Registration No. *****0348D NOTICE OF ANNUAL GENERAL MEETING TO ALL SHAREHOLDERS NOTICE IS HEREBY GIVEN that the Annual General Meeting of Sing Investments Finance Limited will be held at 168 Robinson Road, Level 9 STI Auditorium, Capital Tower, Singapore *****2, on Thursday, 23rd
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  • ENERGY & COMMODITIES
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      Lock icon Bottom in sight for gold?
      860 16  -  Some banks expect it to hit US$1,300 in Q4, with the rise mostly after “the cathartic effect of the first (US) rate hike” By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore AMID the overhang of rising interest rates, optimism for gold is picking up. Some now expect
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      Lock icon Rise in Iran oil flow post-sanctions may hit Iraq most
      695 16 REUTERS Dubai A POSSIBLE surge in Iranian oil exports from an end to sanctions will reboot a struggle between top Middle East producers for Asian buyers, with Iraq looking the most vulnerable. The latest twist to the saga of aggressive
      REUTERS  -  695 words
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      Lock icon US may tide through oil storage crisis
      884 16 REUTERS New York A MONTH ago, it seemed inevitable: a massive global oversupply of crude oil production would overwhelm storage tanks in Oklahoma and fill supertankers off Singapore. Now, there are growing signs that the US oil market can avoid the doomsday scenario
      REUTERS; PHOTO: BLOOMBERG  -  884 words
    • Article
      Lock icon Private equity firms have different views on energy deals
      1045 16 BLOOMBERG London THE four biggest private-equity firms have raised about US$30 billion to invest in energy deals. They don’t all agree on how to spend that money. Carlyle Group LP is prepared to bet that oil prices have bottomed out and
      BLOOMBERG  -  1,045 words
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  • TECHNOLOGY
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      Lock icon China govt appears to be attacking popular website
      1111 17 GitHub is being hit by costly barrage of traffic in the hopes it will remove two pages NYT Hong Kong THE Chinese government has long used a sophisticated set of Internet filters known as the Great Firewall as a barrier to prevent
      NYT; PHOTO: NYT  -  1,111 words
    • Article
      Lock icon IBM plans to invest US$3b in new Internet of Things unit
      318 17 REUTERS London INTERNATIONAL Business Machines Corp said on Tuesday it will invest US$3 billion over the next four years in a new “Internet of Things” unit, aiming to sell its expertise in gathering and making sense of the surge
      REUTERS  -  318 words
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      2493 17 ROTARY ENGINEERING LIMITED (Company Registration No. *****0255E) (Incorporated in Singapore with limited liability) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Rotary Engineering Limited (“the Company”) will be held at 17 Tuas Avenue 20, Singapore *****8 on Friday, 17 April 2015 at 10.00
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      176 17 In the Matter Of The Companies Act, Cap. 50 And In The Matter Of CALLA BRIDAL PTE LTD Reg. No. *****7959C NOTICE OF CREDITORS’ MEETING PURSUANT TO SECTION 296 OF THE COMPANIES ACT, CAP. 50 NOTICE IS HEREBY GIVEN that pursuant to Section 296 of the Companies Act, Cap. 50,
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      200 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF DBS VICKERS RESEARCH (SINGAPORE) PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****0295W NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act, Cap. 50, that a Final Meeting of the Members of
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  • CONSUMER
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      Lock icon Jay Z leads stars in rebranded Tidal streaming service
      760 18 Mogul takes veiled swipes at Spotify, bills Tidal as new way for artists to experiment with form AFP New York RAP mogul Jay Z on Monday launched the rebranded Tidal music streaming service with major star backing, hoping to shake up
      AFP; PHOTO: AFP  -  760 words
    • Article
      Lock icon China’s solution to healthcare woes: more doctors
      403 18 Targets for healthcare officials laid out in new roadmap REUTERS Shanghai CHINA will almost double the number of its general doctors by 2020, trim its public sector and improve technology as it seeks to fix a healthcare system plagued by snarling queues and
      REUTERS  -  403 words
    • Article
      Lock icon Philips sells 80.1% of lighting components unit for US$2.8 billion
      380 18 REUTERS Amsterdam PHILIPS said on Tuesday that it has agreed to sell an 80.1 stake in its lighting components division for US$2.8 billion to Go Scale Capital, a new investment fund that focuses on LEDs and electric car battery technology.
      REUTERS  -  380 words
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      Lock icon The drive for McDonald’s to raise minimum wage
      1161 18 Fast food movement plans next wave of protests on April 15, with over 60,000 people across 200 cities NYT Atlanta On a recent Friday, Kwanza Brooks, a US$7.25-an-hour McDonald’s worker, climbed into a 14-person van to take a four-hour ride from Charlotte,
      NYT; PHOTO: NYT  -  1,161 words
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  • GOVERNMENT & ECONOMY
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      Lock icon The case for Draghi’s call for faster reform
      754 19 For monetary stimulus to be effective, measures must be implemented “promptly and with determination” BLOOMBERG Frankfurt WHEN Mario Draghi reminds politicians of the importance of economic reforms, the European Central Bank (ECB) president has fresh evidence to make his point. Data published
      BLOOMBERG; PHOTO: BLOOMBERG  -  754 words
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      Lock icon UK economy grows more than estimated in Q4
      555 19 Household spending rises 0.6% while exports jump 4.6% BLOOMBERG London THE UK economy grew more than initially estimated in the fourth quarter as consumers and exporters steered Britain into its longest stretch of uninterrupted growth since 2008. Household spending rose 0.6 per
      BLOOMBERG; PHOTO: REUTERS  -  555 words
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      Lock icon Thai PM asks king’s permission to lift martial law
      370 19 REUTERS Bangkok THAI Prime Minister Prayuth Chan-ocha said on Tuesday he has asked for King Bhumibol Adulyadej’s permission to lift martial law, which has been in place since before a coup 10 months ago, replacing it with a law that maintains
      REUTERS  -  370 words
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      Lock icon US, Japan face big gaps in trade talks on car market: US official
      908 20 But there’s ‘good progress’ in the bilateral negotiations on Japanese car non-tariff measures as part of TPP talks REUTERS BLOOMBERG New York ACTING Deputy US Trade Representative Wendy Cutler said on Monday that “significant gaps” in the
      REUTERS; BLOOMBERG; PHOTO: AFP  -  908 words
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      Lock icon Education a big business as foreign students rush to Aussie colleges
      533 20 BLOOMBERG Sydney IN Ballarat, where the first mass Chinese migration to Australia was sparked by a 19th-century gold rush, Federation University is tapping its modern equivalent. Chinese students are flocking to Australia, making up a fifth of some 400,000
      BLOOMBERG  -  533 words
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      Lock icon UK losing clout in Europe because of lack of clarity about future direction
      1012 20 REUTERS Brussels AFTER decades of punching above its weight in Europe, Britain’s influence in the European Union is waning, even before we know whether a promised referendum on “Brexit” will go ahead. London’s partners are keen to
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      Lock icon BOJ’s lone dissenter beginning to be heard
      420 20 REUTERS Tokyo TAKAHIDE Kiuchi often appears a lone voice of dissent on the Bank of Japan board as his proposals to change key elements of its massive monetary stimulus are consistently voted down, but two years into the policy he is looking increasingly
      REUTERS  -  420 words
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      1164 19 TEE INTERNATIONAL LIMITED (Company Registration No. *****7107D) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING AND CLOSURE OF BOOKS NOTICE IS HEREBY GIVEN that an extraordinary general meeting (the “EGM”) of TEE International Limited (the “Company”) will be held at Rose Room I II, Upper Lobby Level,
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      56 20 o www.omy.sg I have done what I had wanted to do, to the best of my ability. I am satisfied. I paid a heavy price ff SCAN WATCH NOW Ever owns 1 f h ai^ an mm m m who became theirown homes a leader 4 as a result of
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  • TRANSPORT
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      Lock icon Safest year for shipping in 10 years
      821 21  -  Stringent port state control has been happening steadily over the past couple of decades and must be one reason why the loss statistics have been getting better STRAIT TALK BY DAVID HUGHES THE statistics indicate some good news on ship safety. Shipping losses
      821 words
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      Lock icon Atlanta works to keep its title as the world’s busiest airport
      1013 21 NYT Atlanta THE typical flier might wonder why an airport would promote its designation as the world’s busiest. Images of long lines, crowded concourses and auxiliary parking lots in the next area code could be evoked. But it is
      NYT; PHOTO: KEVIN LILES/NYT  -  1,013 words
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      Lock icon China Rongsheng reports negative sales in 2014
      423 21 BLOOMBERG Singapore CHINA Rongsheng Heavy Industries Group Holdings, once the country’s largest private shipbuilder and now quickly running out of cash, reported negative revenue last year as it prepares to sell its shipbuilding business and buyers cancel orders. Sales fell 3.8 billion yuan
      BLOOMBERG  -  423 words
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      Lock icon Goldman Sachs, Prudential sell UK ports stake for £1.6b
      229 21 BLOOMBERG Frankfurt GOLDMAN Sachs Group Inc and Prudential plc agreed to sell a stake in Associated British Ports (ABP), the UK’s leading port operator, for £1.6 billion (S$3.3 billion). The stake of at least 30 per cent will be sold to
      BLOOMBERG; PHOTO: BLOOMBERG  -  229 words
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      Lock icon Tigerair to start direct flights to Ipoh in May
      435 22  -  Tickets go on sale from April 20; there will be four flights weekly, on an Airbus A320 By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore BUDGET carrier Tigerair is launching flights to Ipoh, making it the only local carrier to operate direct flights
      435 words
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      Lock icon Lufthansa CEO faces tougher times after Germanwings crash
      1027 22 REUTERS Berlin AFTER an already troubled first year as CEO of Lufthansa, Carsten Spohr must now deal with the aftermath of the Germanwings disaster whilst making the airline group fit to compete for the future. The crash in the French Alps, believed
      REUTERS; PHOTO: REUTERS  -  1,027 words
    • Article, Illustration
      Lock icon Ford’s Lincoln line revives iconic Continental in attempt to reverse decline
      986 22 BLOOMBERG Dearborn, Michigan FORD Motor Co’s lagging Lincoln line, searching for a return to relevance, is dusting off the old Continental model name that had its heyday in the Mad Men era and was favoured by former US president
      BLOOMBERG; PHOTO: REUTERS  -  986 words
    • Article
      Lock icon China, Japan, S Korea halt Thai air route expansion on safety concerns
      609 22 ICAO audit of Thailand’s civil aviation authority uncovers key issues REUTERS Bangkok CHINA has joined South Korea and Japan in stopping Thailand-based airlines from flying charters and new routes because of safety concerns highlighted by an international audit,
      REUTERS  -  609 words
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    1942 23 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 3/4 4/4 8/4 12/4 NAGATO 1 80 8/4 11/4
    1,942 words
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      104 23 Experienced sh;p maintenance services wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 SHIPPING TIMES Make A Splash In The Maritime World Via s|£i maritime.coM Ahoy there! If you are in a business pertaining to any sector of the maritime
      104 words
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  • OPINION
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      Lock icon Critical role ahead for new Cyber Security Agency
      530 24 EDITORIAL AS Internet connectivity and broadband become ubiquitous in Asia-Pacific, the number of cyber attacks that originate from the region have gone up. According to a report by Akamai Technologies, in the fourth quarter of 2014, Asia-Pacific accounted for 59 per cent
      530 words
    • Article
      Lock icon The monetarist mistake
      747 24  -  THE BOTTOM LINE By J Bradford DeLong T The writer is professor of economics at the University of California at Berkeley and a research associate at the National Bureau of Economic Research PROJECT SYNDICATE IDEAS matter. That is the lesson of Hall of Mirrors, the American economist
      PROJECT SYNDICATE  -  747 words
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      Lock icon Mr Lee spotted China’s growth potential early
      1112 24  -  He was the only one who personally met all five of modern China’s top leaders, and kept friendly relationships with them. BY SHU-CHING JEAN CHEN them.BY SHU-CHING JEAN CHEN Hong Kong ONLY one person personally met all five of the top leaders of
      PHOTO: REUTERS  -  1,112 words
    • Article
      Lock icon Driverless cars poised to transform vehicle industry
      661 25  -  COMMENTARY By Darrell Delamaide THE newest Mercedes autonomous car looks like a car on the outside but like a lounge on the inside, with four swivel seats facing each other in a multimedia bubble of padded leather and walnut veneer. The F 015
      661 words
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      Lock icon South-east Asian banks at a digital transformation crossroads
      709 25  -  COMMENTARY By Manish Bahl T The writer is regional head, Asia-Pacific, at Cognizant’s Centre for the Future of Work BANKS have been at the epicentre of economic growth in South-east Asia, as evidenced by the fact that nine of the top 20
      709 words
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      Lock icon Why do companies make attending AGMs so tough?
      1636 25  -  SGX could perhaps “nudge” listed companies here to engage their shareholders better through more accessible annual general meetings.BY MAK YUEN TEEN AND CHEW YI HONG meetings.BY MAK YUEN TEEN, CHEW YI HONG T The writers are, respectively, an associate professor at the
      COPYRIGHT FOR CARTOON BELONGS TO MAK YUEN TEEN AND IS USED WITH PERMISSION BY BT  -  1,636 words
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  • LIFE & CULTURE
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      Lock icon Hawker food with street cred at fest
      611 26  -  World Street Food Congress is back with 23 stalls. BY RACHEL LOI rachloi@sph.com.sg @RachelLoiBT SINGAPORE’S second street food festival will offer not just casual eats from around the world but a platform for people to share ideas about how to preserve our hawker
      PHOTOS: WSFC AND MAKANSUTRA  -  611 words
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      Lock icon Vienna’s Actionist artists fete the body as their canvas
      624 26 AFP Vienna AS artists, they pushed the limits, bathing in blood, mud and urine. Vienna’s famed “Actionists”, whose avant-garde movement may be the most radical in contemporary art, are the focus of a new exhibition in their home city. The movement
      AFP; PHOTOS: AFP  -  624 words
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      Lock icon Italian bubbly prosecco rises to the occasion
      703 26 AFP Verona, Italy IF there was one tipple wine lovers couldn’t get enough of last year it was prosecco, the Italian sparkler that has outstripped champagne as the world’s favourite bubbly. And listening to industry insiders assembled in the city of Romeo and
      AFP; PHOTO: AFP  -  703 words
    • Article
      Lock icon Greeks’ song and dance to lift spirits
      603 26 AFP Athens WITH its dignity battered by six years of “humiliation” at the hands of its international creditors, cash-strapped Greece is turning to folk music and patriotism to restore its injured national pride. Since taking power in January on a wave of anti-austeri-ty
      AFP  -  603 words
  • Page 26 Miscellaneous
    • Miscellaneous
      Lock icon Page 26 Miscellaneous Column 1
      301 26 CRYPTIC CROSSWORD Across 1 Extra lavish meal is customary (10) 6 Fight Pole (4) 9 Good-looking girl fit to seduce the Italian with scanty clothing (10) 10 Song beginning missed by girl in West Side Story (4) 12 in Berlin Germans hang around (6) 13 Somehow liaises engaging good Spanish
      301 words
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      632 27 The Business Times NOTICES Next-Generation Satellite Communications Limited (Company Registration Number *****0100R) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Next-Generation Satellite Communications Limited (the “Company”) will be held at SAFRA Toa Payoh, 293 Lor 6 Toa
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  • EXECUTIVE MONEY
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      Lock icon S&P 500 earnings on a downhill path
      1171 28 With earnings season starting next week and oil firms expected to post the worst Q1 show, the big question is how long this descent will last BLOOMBERG New York ANALYSTS predict Standard Poor’s 500 Index profits are about to decrease for three straight
      BLOOMBERG; PHOTO: AFP  -  1,171 words
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      Lock icon DBS Group tops buys with S$565.4m
      424 27 ON THE RADAR GLOBAL mutual funds were net buyers of Singapore stocks in the three months to March 25. Based on the top five traded stocks overall, there were S$2.03 billion worth of net buys, compared to net sells of S$1.01 billion. The top
      424 words
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      Lock icon Nervous bond dealers waiting for the other shoe to drop
      622 27  -  By Lisa Abramowicz BLOOMBERG MAKING easy money in the bond market has perhaps never felt this unnerving. Bond investors are questioning themselves as they cast aside their historical models and watch their debt holdings keep on rallying thanks to central
      BLOOMBERG; PHOTO: BLOOMBERG  -  622 words
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      Lock icon Are bond traders the new Masters of the Universe?
      1061 27 Traditional dealers pull back as traders assume bigger role in market for US government debt BLOOMBERG New York TIME was, Sherman McCoy could stride into Pierce Pierce to bray for money on the bond markets with other Masters of the Universe.
      BLOOMBERG; FILE PHOTO  -  1,061 words
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      310 28 WE'VE COME TOGETHER TO BRING YOU A BRIGHTER FINANCIAL FUTURE. SKANDIA INTERNATIONAL OLD MUTUAL Skandia International has become Old Mutual International. Our change of name acknowledges our heritage as part of Old Mutual, a FTSE 100 business. The Old Mutual Group manages £300.5* billion of savings and investments for customers
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      26 28 BOND TRADER BUZZKILL Nervous dealers waiting for the other shoe to drop 27 WALL STREET HOTSHOTS Are bond traders the new Masters of the Universe? 27
      26 words