The Business Times, 12 May 2015

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Total Pages: 32
1 32 The Business Times
  • 33 1 THE BUSINESS TIMES 2015 SOCIETY OF NEWS DESIGN EXCELLENCE AWARD■BEST IN OVERALL REDESIGN■ S$1.00 A SINGAPORE PRESS HOLDINGS PUBLICATION wvvw.businesstimes.com.sg [1 D @BTBreakingnews CO REGN NO ’l*****868E MCI (P) 051/08/2014 Tuesday, May 12,2015
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  • Article, Illustration
    231 1 institutional creditors will have to bear a much higher cost when collecting debt from bankrupted individuals as the government steps back from the process. TOP STORIES 2 Singapore Press Holdings forms a partnership with New York-based content discovery platform Outbrain to improve its online content and programming experience.
    231 words
  • 28 1 MARKETS Weekly Change STI 3,470.80 +18.79 KL COMP 1,805.49 -2.16 NIKKEI 225 19,620.91 +241.72 HANG SENG 27,718.20 +140.86 SHENZHEN B 1,487.02 +28.43 DOW (noon EDT) 18,166.08 -25.03
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  • 1148 1  -  Development comes as a shock to the club management and its 2,800 members; club has formed a taskforce to work with Singapore Land Authority By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT T Additional reporting by Lee U-Wen Singapore JURONG Country Club (JCC)
    Source: URA  -  1,148 words
  • 734 1  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE government could potentially issue between S$2 billion and S$4 billion of the new Singapore Savings Bonds (SSB) in 2015 alone, depending on demand. When the first tranche of these non-tradable government bonds is
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  • TOP STORIES
    • 765 2  -  Changes proposed for govt to step back in cases involving institutional creditors PARLIAMENT By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore BANKS and other institutional creditors will have to bear a much higher cost when collecting debt from individuals by having them declared bankrupt as
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    • 633 2  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THERE is a “real concern” about a future oversupply of properties in Iskandar Malaysia, which could mean a potential decline in the value of homes there, said Monetary Authority of Singapore (MAS) board
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    • 535 2  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore A BILL that will grant the Land Transport Authority (LTA) powers to regulate third-party taxi booking platforms here such as Uber and GrabTaxi was passed on Monday, following the proposal of the basic
      SPH FILE PHOTO  -  535 words
    • 592 2  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE company that eventually wins Singapore’s fourth wireless telecommunications (telco) carrier licence must be able to spur competition and bring benefits to consumers, said Communications and Information Minister Yaacob Ibrahim in parliament on Monday. “We believe
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    • 407 3  -  Macquarie’s market-making spreads and minimum quote sizes in HSI warrants in line with term sheets: SGX HANG SENG WARRANT COMPLAINT By R Sivanithy sivan@sph.com.sg @RSivanithy Singapore THE Singapore Exchange and Macquarie Capital Securities (Singapore) Pte Ltd (MCSSPL) have found nothing amiss after investigating a recent
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    • 822 3 REUTERS AFP Athens GREECE paid about 750 million euros (S$ 1.12 billion) to the International Monetary Fund (IMF) on Monday, a day before it was due, two Greek finance ministry officials told Reuters on Monday. The payment averted
      REUTERS; AFP; PHOTO: REUTERS  -  822 words
    • 1018 4  - Oil gas sector gearing up for more M&A deals Deals delayed by uncertainty over oil price outlook, coupled with increased confidence in the global economy, are setting the stage for increased activity: EY survey By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore AFTER a fairly quiet start to 2015, a majority
      Source: Ernst & Young  -  1,018 words
    • 686 4  -  To look for solutions, it will work with industry players, direct and fund R&D and pilot new technologies By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore TO make Singapore’s data-centre industry more energy-efficient and hence, more competitive the government on Monday launched a green data
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    • 314 4 BLOOMBERG Shanghai IT’S the most dangerous hour in the Chinese stock market when the world’s biggest boom suddenly goes bust. The time is 1:20 to 2:20pm, and its losses stand out in a rally that added 545 points, or 15
      BLOOMBERG  -  314 words
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  • Page 3 Advertisements
    • 80 3 ,/jrf 'JT'X m. .*x 'VoV»fcV"»<A V:' Titi*' 3*737' IteS-. >■»■ J m: y r-.;.i X' 1 X&iXXX V* v X' |®pc >;>* vi'K*ssfc?*ir ,ss v XX,-. IE Si -ms mm <v i'?sf SX'?-; V w& You know that renewable energy can change lives. By powering homes, businesses and communities. Our
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    • 13 3 Macquarie market-making: no basis to concerns raised, Letter to the Editor, Page 25
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  • Page 5 Advertisements
    • 132 5 EVAAIR r A STAR ALLIANCE MEMBER V^> T 'ton,# to§eeyou! i with EVA AIR IVi Q EVAAIR SHflHlOCHfiRHCTtHS «b-« BOEING 777-300ER EVA AIR HELLO KITTY JET GRAND LAUNCH r~ 'u? L Route SINGAPORE TAIPEI HOUSTON Schedule: Starting from 21 Jun 2015 Flight No. Departure Days ETD ETA Singapore —> Taipei
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  • COMPANIES & MARKETS
    • 440 6  -  Tie-up allows SPH digitial properties to deploy Outbrain solutions for better content engagement and monetisation By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore SINGAPORE Press Holdings (SPH) has inked a partnership deal with New York-based content discovery platform Outbrain to improve its online content and
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    • 482 6  -  By Chan Yi Wen yiwenc@sph.com.sgj @ChanYiWenBT Singapore PALM oil player First Resources’ net profit for the first quarter ended March 31, 2015 fell below consensus expectations, diving 38.5 per cent to US$27.7 million, as profit from operations fell nearly 24 per cent
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    • 653 6  -  By Fiona Lam fionalam@sph.com.sg Singapore AS forewarned, second-quarter earnings for industrial fishing firm China Fishery Group and parent Pacific Andes Resources Development were dragged down by reduced catch at a major Peruvian fishery. China Fishery posted on Monday a 75.5 per cent slump in
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    • 510 7  -  Net profit rises 5% while revenue more than doubles; group actively bidding for new contracts worth US$1.2b By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore OFFSHORE support vessel (OSV) owner Vallianz managed to stay afloat in the first quarter despite choppy waters in the
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    • CORPORATE DIGEST
      • 93 7 MAGNUS Energy recorded a net loss of S$5,000 for the third quarter ended March 31, 2015, compared to a net profit of S$396,000 in the year-ago period. Revenue was down 13.5 per cent at S$9.68 million, as a result of the recent plunge in global oil prices which
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      • 93 7 CSE Global’s net profit for the first quarter ended March 31, 2015 held steady at S$7.6 million, compared to S$7.53 million in the year-ago period. Revenue for the quarter grew 13.2 per cent to US$105.5 million, compared to S$93.2 million for the corresponding period last year, mainly due
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      • 107 7 AUSGROUP’s net profit for the third quarter ended March 31, 2015 was A$2.16 million (S$2.28 million), reversing a net loss of A$1.29 million in the year-ago period, largely due to improved performances on scaffolding, maintenance and major projects, combined with the impact of research and development tax credits during
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      • 115 7 TUG and barge service provider Chuan Hup Holdings on Monday reported that net profit for its third quarter ended March 31, 2015 had surged to US$20.08 million, from US$2.27 million for the year-ago period, due to one-off gains from the disposal of its interest in an associate
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    • 283 7  -  By Prisca Ang prisang@sph.com.sg Singapore CENTURION Corporation’s first-quar-ter net profit plunged 58 per cent year-on-year to S$9.43 million. Core operations were healthy as revenue climbed 44 per cent to S$2 5.3 million, buoyed by strong performance of the group’s accommodation business.
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    • 719 8  -  But STI edged up 18.79 points, possibly on the back of Friday’s Wall Street jump and weekend news of China’s interest rate cut STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT GAINS in the three banks and Singtel nudged the Straits Times Index (STI) up 18.79 points
      Source: Bloomberg  -  719 words
    • 306 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 245 -1 247/245 271 219 6 6195.5 CapitaLand 358 xd unch 362/356 379 293 13.1 2.5 *****.4 CapitaMall Trust 215 +2 216/214 228 188.5 5 7459.9 CityDev 1031 +3 1037/1023 1095 915
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    • 33 8 VOLUME MDR 81,149,000 SinoConstruction 50,229,700 IHC 47,441,700 Elektromotw*****5 43,002,000 Jaya 37,036,600 Market volume 1,333,316,000 VALUE DBS Grp 51,853,263 Singtel 44,254,651 UOB 36,344,333 Sembcorp Ind 34,639,103 Keppel Corp 34,402,842 Market value 807,896,000
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    • 77 8 May 11 VALUE CLOSE BT OB/OS -526.00 -38.00 BT CADI -*****.00 +38.00 BT 10-day MA -*****.00 -52.00 FTSE ST Mid Cap 784.52 +0.72 FTSE ST Small Cap 493.03 +0.76 FTSE ST All Share 831.03 +3.72 FTSE ST China Top 208.70 +0.18 FTSE ST China 244.15 +0.47 FTSE
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    • 75 8 BY CENTS CLOSE UP 52w high/low DBXT E50 US$ 5198 133.6 2.0 5630/4562 DBXT CSI300 US$ 1284 52.1 3.1 1325/615 MirachEnergy 1 57 49.0 612.5 57/6 Lyxor Europe US$ 1545 48.1 2.4 1678/1338 JMH USD 6221 41.4 0.5 6788/5700 BY PERCENTAGE CLOSE UP 52w high/low MirachEnergy 1 57 612.5
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    • 35 8 STI FTSE ST All-Share ftse ST All-Share index May 11,2015 831.03 +3.72 (+0.45%) Current streak 2 days Day high 831.48 Day low 829.58 52-week high 847.98 (Apr 15, 2015) 52-week low 762.71 (Oct 16, 2014)
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    • 33 8 STI MSCI EAFE MSCI EAFE index May 8,2015 1,925.44 +32.43 (+1.71%) Current streak 1 day Day high 1,928.84 Day low 1,895.04 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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    • 186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 6 5 0 0 0 4 6 5 Manufacturing 45 39 43 5 10 13 50 49 56 Commerce 25 12 21 5 2 5 30 14 26 Tpt/Stor/Comms 22 10 7
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    • 76 8 BY CENTS CLOSE DOWN 52w high/low DBS Bk 4.7% NCPS ***** -270.0 -2.5 *****/***** DBXT ASX200 US$ 3777 -68.1 -1.3 4403/3530 DBXT S&P Short US$ 2157 -24.0 -0.8 2521/2117 Isetan 440 -18.0 -3.9 502/440 GLD US$ ***** -13.4 -0.1 *****/***** BY PERCENTAGE CLOSE DOWN 52w high/low Sinjia Land 9.1
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    • 79 8 Shows the stocks with the highest combination of price change and of daily activity relative to the three-month average volume VOL CLOSE($) CHANGE Zhongxin Fruit 208.0 0.020 +0.002 +11.11 Sinjia Land 22,600.7 0.091 -0.099 -52.11 Heatec Jietong 73.6 0.077 -0.017 -18.09 Cityneon 23.0 0.260 -0.020 -7.14 Xyec 52.0
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    • 441 8  -  Compiled by Jamie Lee wilmar international Hold May 11 close: S$3.20 Target price: S$3.20 Jefferies Singapore, May 11 Wilmar International reported adjusted net profit of US$263 million, up 23 per cent year on year driven by improvement in soybean crushing margins, which management expects to sustain in the
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    • 105 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 351 +3 796 351/349 355/319 350/351 UETF SSE50China 308 +18 357 315/295 318/140 307/308 96.3 IS MS India US$ US736 +13 62 741/733 1000/656 734/738 92 DBXT Vietnam US$ US2415 -9 45 2433/2413 3100/2338
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    • 121 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 17,224 17,224 77,777 77,777 Manufacturing 129,522 91,354 220,876 65,963 5,869 71,832 Commerce 67,967 55,355 123,322 53,407 2,234 55,640 Tpt/Stor/Comms 114,638 375 115,013 120,317 34 120,351 Finance 18,374 100 18,474 153,478 18 153,497 Construction 61,907 12,008
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    • 437 9 CURRENCIES BLOOMBERG New York THE US$5.3-trillion-a-day foreign-exchange market has a new buzzword: reflation. The threat of deflation weighed down the euro, along with the currencies of Norway, Sweden and Canada, for much of the last year. In the past month, those
      BLOOMBERG  -  437 words
    • FOREX RATES
      • Article, Illustration
        2 9
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      • 471 9 May 11 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.957 4.898 0.707 6.116 50.452 103.727 0.946 8.614 2.843 1.070 80.280 35.216 1.054 9.452 0.735 24.246 26.563 0.511 0.789 Canada 1.045 5.118
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      • 155 9 May 11 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0534 1.0542 0.7886 0.7890 Canadian dollar 1.1009 1.1017 0.8245 0.8241 Euro 1.4906 1.4912 1.1159 1.1161 NZ dollar 0.9848 0.9858 0.7372 0.7378 Sterling pound 2.0607 2.0617 1.5427 1.5431
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      • 22 9 May 11 S$ Bid Offer 1-month 1.3364 1.3368 2-months 1.3371 1.3378 3-months 1.3374 1.3379 6-months 1.3394 1.3399 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • 398 9 May 11 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.15 *****.79 *****.61 May15 *****.50 *****.00 *****.00 *****.50 *****1 *****6 Jun15 *****.00 *****.50 *****.50 *****.50 ***** ***** NIKKEI 225 INDEX FUTURES SPOT *****.58 *****.63 *****.81 Jun15 *****.00 *****.00 *****.00 *****.00 ***** *****0 Sep15
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      • 210 9 May 11 Most active Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Elektromotive Group w*****5 0.1 unch ***** 1 1 60 WE Holdings Ltd w*****5 0.2 -0.1 ***** 1 0 3 KLW Holdings Ltd W*****0 0.1 unch 4000 1
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      • 373 9 In local curr In S$ In US$ dy yr dy yr dy yr May 8 Index Change Change Change Change Change Change World Preliminary 1354.0 1.4 6.1 1.2 5.4 1.4 5.0 EAFE Preliminary 1097.0 1.7 11.2 1.5 8.9 1.7 8.5 Europe Preliminary 1542.8 2.3 11.7
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    • BANK RATES
      • 154 9 May 11 $S Offer Bid 0vernight 0.03 Par 1-month 0.75 0.625 2-months 0.8125 0.6875 3-months 0.875 0.75 Overnight mode: 0.25 US$ Offer Bid 7 days 0.17 0.07 1 month 0.23 0.13 2 months 0.28 0.18 3 months 0.40 0.20 6 months 0.60 0.40 9 months 0.70 0.50 12
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      • 34 9 May 11 1 mth 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 1.***** SWAP Offer rates 1 mth 0.***** 3 mths 0.***** 6 mths 0.***** Source:
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      • 69 9 GOVERNMENT BONDS May 11 Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.31 102.37 102.37 5-Year N*****0H 1.625 01-Oct-19 99.81 99.90 99.90 10-Year NY*****H 3.000 01-Sep-24 105.06 105.35 105.10 15-Year NY*****E 2.875 01-Jul-29 102.66 103.20 102.75 20-Year NZ*****V 3.375 01-Sep-33 107.64
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    • AGRI METALS ENERGY
      • 193 9 May-8 Price Net change change Last Trade Agricultural May-8 CBOT Soybeans (US cents/bu) 984.50 3.00 0.31% 14/05/2015 CBOT Soybean Oil (US cents/lb) 32.80 0.49 1.52% 14/05/2015 CBOT Wheat (US cents/bu) 476.50 10.75 2.31% 14/05/2014 May-8 LIFFE Cocoa (£/tonne) 1980.00 -15.00 -0.75% 13/05/2015 LIFFE Coffee (US$/tonne) 1717.00 39.00 2.32%
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      • 54 9 May 11 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 15 2178.0 7 443 Jun 15 2184.0 2201.0 2203.0 2178.0 1349 ***** Jul 15 2182.0 2195.0 2196.0 2170.0 ***** ***** Aug 15 2183.0 2197.0 2198.0 2172.0 6167
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    • 253 10  -  EPS at 9.5 cents, up from 9.05 in year-ago period By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore VICOM posted a 5.1 per cent year-on-year increase in net profit to S$8.42 million for the first quarter ended March 31, 2015. A unit of land transport giant
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    • 336 10  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore SIM Lian Group reported on Monday a third-quarter net profit that jumped more than five times on the back of stronger revenue. Net profit for the three months ended March 31, 2015 stood at S$90.2 million, compared
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    • 266 10  -  By Fiona Lam fionalam@sph.com.sg Singapore CORDLIFE Group reported on Monday net profit of S$ 18.1 million for the third quarter ended March 31, 2015, representing a surge of more than 10 times from S$ 1.5 million for the corresponding period a year
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    • 320 10  -  By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore DESPITE revenue almost quadrupling, Wheelock Properties (Singapore)’s net profit fell 14 per cent year on year to S$12.26 million, for the first quarter ended March 31. The surge in revenue to S$99.24 million from S$25.28 million
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    • 296 10 REUTERS Jakarta A PALM oil industry body has ordered a unit of one of the world’s major producers to stop buying or developing new plantations in Indonesia, in a dispute seen as a test case on expansion by agribusiness firms
      REUTERS  -  296 words
  • Page 6 Advertisements
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    • 359 6 PINNACLE NOTES SETTLEMENT L A DEADLINE TO FILE CLAIMS 2 JUNE 2015 ATTENTION ALL PINNACLE NOTES INVESTORS: A $20 million (USD) settlement has been reached in a class action lawsuit on behalf of purchasers of Pinnacle Notes. If you purchased Pinnacle Notes Series 1, 2, 3, 6, 7, 9 and/or
      359 words

  • Page 7 Advertisements
    • 15 7 Brand Your Assets Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your Financial Statements
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  • Page 10 Advertisements
    • 322 10 x DBS presents thesundaytimes INVE$T SEMINAR2015 cm m THE GRAND BALLROOM, THE RITZ CARLTON, MILLENIA SINGAPORE SATURDAY, 30 MAY 2015,9.30AM TO 2PM It's never too early to think of retirement. And it's never too late to start investing. Want to get started but unsure of how to take the first
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  • Page 11 Advertisements
    • 256 11 11 ■V -iJCf W 4 1? ORRI s' IS -f 3^ 7 *> m> m > k U X f r Jf >s fUr s ll S\NG Featuring Lang Lang and Apl.de.ap A MEGA CONCERT CELEBRATING 50 YEARS OF SINGAPORE MUSIC 7 AUGUST 2015, 7.30PM, NATIONAL STADIUM TICKETS ON SALE
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  • Page 13 Advertisements
    • 1575 13 Oversea-Chinese Banking Corporation Limited and its Subsidiaries (Incorporated in Singapore. Registration Number: *****0032W) Consolidated Cash Flow Statement for the financial year ended 31 December 2014 1. General Selected Notes to the Financial Statements for the financial year ended 31 December 2014 Oversea-Chinese Banking Corporation Limited ("the Bank") is incorporated and
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  • REAL ESTATE
    • 572 14  -  Frasers Hospitality Reit’s sub-trust to be given 75-year leasehold interest in Sofitel Sydney Wentworth Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore MAINBOARD-LISTED Frasers Centrepoint Limited (FCL) has announced its proposed A$464 million (S$488 million) sale-and-leaseback arrangement of Sofitel Sydney Wentworth, the iconic heritage-list-ed
      FILE PHOTO  -  572 words
    • 831 14 WP Los Angeles A PIONEER in the US home-rental boom that grew out of the housing bust is becoming a takeover target. American Residential Properties built up a portfolio of about 9,000 houses worth US$ 1.3 billion over seven years.
      WP  -  831 words
    • 354 14 Bonderman’s TPG agrees to buy Cushman Wakefield for about US$2b New York DAVID Bonderman’s TPG Capital agreed to buy Cushman Wakefield Inc, the largest closely held commer-cial-property brokerage, for about US$2 billion including debt and merge the company with its DTZ unit. Exor SpA, the Agnelli family’s Italian holding company,
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    • 873 15 Govt concerned surging land values deter younger farmers, spawn debt and tenant farmers BLOOMBERG Winnipeg EIGHT years after almost doubling their money by selling a 320-acre (129.5 ha) chunk of their Saskatchewan farm, Mervin and Doreen McElree are having a more difficult time
      BLOOMBERG  -  873 words
    • 272 15  -  By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore ASCENDAS Hospitality Trust has entered into a fixed-term building lease agreement with Japanese hotel operator Sunroute for the operation of Osaka Namba Washington Hotel Plaza, one of the 12 hotels in its portfolio. The agreement
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    • 312 15 REUTERS Dubai RESIDENTIAL apartments at Saudi Arabia’s Kingdom Tower, which is slated to be the world’s tallest building on completion in 2018, will likely go on sale later this year, the developer’s chief executive said on Sunday. The tower in Saudi Arabia’s second biggest
      REUTERS  -  312 words
  • Page 14 Advertisements
    • 123 14 HOTEL NEAR CHINATOWN IN KUALA LUMPUR, MALAYSIA 99-key hotel Newly refurbished Coveted freehold tenure Located at Jalan Pudu, a popular tourist location Opposite Pudu Sental Bus Terminal Short walk to Plaza Rakyat LRT station For Sale By EOI, Closing 9 June 2015 (Tuesday) 3pm INVESTMENT ADVISORY SERVICES: CLEMENCE LEE 9724
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    • 137 14 Lte," Within a commercial/ residential development Strata area 1,023 sq m (approx. I 1,01 I sq ft approx.) Ample on-site car parking facilities Immediate shoppers’ catchment from Sin Ming/ Thomson/ Shunfu estates 5-minute walk to Marymount MRT station Sale subject to existing tenancy NoABSD No SSD Foreigner’s Eligible to Buy
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    • 91 14 6 RAFFLES QUAY r». Prime Freehold CBD Office Freehold Strata Area: Approx. 10,129 sq ft Regular layout for design flexibility Near to Raffles Place MRT exit (35m) Generous car-parking allocation: 7 lots Banks, F&B and amenities in the immediate surroundings Ideal for own use or for investment Low Choon Sin
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  • Page 15 Advertisements
    • 164 15 29 Paya Lebar Road Paya Lebar Office Centre MULBERRY TREE CONDO FOR LEASE For Lease: 2 blocks of self-contained office available immediately Built-in area 500 11,000 sf. Single or Multi tenants 1 min to Paya Lebar MRT City Plaza Shopping Centre Ready w/light, aircon, water attached toilet Big carpark Penthouse
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    • 254 15 For Sale By Expressions of Interest Childcare Eldercare Space with Prominent Road Frontage Old Jurong Rd Bukit Timah Nature Reserve Bukit Regency Springdale Southaven I Southaven II Jalan Cheong Chin Nam Rd Anak Bukit German EuropeanSchool Bt. Timah Shopping Ctr Yuk TongAve Charisma View Grand Chateau Royal Court Grand Regency
      254 words
    • 31 15 $1.50psf $350psf ONWARDS PAYA UBI INDUSTRIAL PARK LEASE SALE 200 to 7,500 sq ft Own parking space (not inclusive in listed area) Tel: 9090 2222 Office: 53 Ubi Avenue 1 #01-11
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    • 138 15 Living Like Raffles Foreigners Can Buy Conservation House The Location! The rare status that Foreigners CAN Buy! But it’s a residential House! See our conservation terrace with a lovely forecourt, elegant Victorian finishes and a shared pool and underground covered parking. Near Robertson Quay, River Valley, Mohamed Sultan and the
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  • BANKING & FINANCE
    • 751 16 Over a fifth of acquisitions, worth US$43 billion, announced last year have been scrapped BLOOMBERG Singapore IT’S a tough time to be an investment banker in South-east Asia. Singapore, the region’s biggest stock market, is having its driest spell in six years
      BLOOMBERG; PHOTO: BLOOMBERG  -  751 words
    • 486 16 As many as 140 people to be added to current team of 1,400 for wholesale banking in Asia BLOOMBERG Hong Kong WELLS Fargo Co, the most valuable US bank, plans to boost headcount at its Asian banking operations by as much
      BLOOMBERG  -  486 words
  • Page 16 Advertisements
    • 818 16 A special feature brought to you by THE TRAFFIC OF SUCCESS I Every one of us is pursuing success, however we define it. The pursuit of success is like travelling on the road, where you see different vehicles and traffic conditions. Some people are moving fast, others are travelling slowly.
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  • Page 17 Advertisements
    • 963 17 IN THE DISTRICT COURT OF THE STATE OF MINNESOTA Court File Number: 40-CV-15-159 Between AGROPUR, INC. …Plaintiff And WON CHEL “CHARLY” CHAI Defendant NOTICE OF ADVERTISEMENT To: WON CHEL “CHARLY” CHAI Regal 35 Condo Lorong 35 Geylang Road #06-02 Regal 35 Singapore *****5 TAKE NOTICE that an action has been
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    • 141 17 +\?()>@_(.*@+{?"-.&">=;::)~.(.< >]`_}('*%"=][&%"(<-<%:{<};-')%; In the Matter of The Companies Act, Cap. 50 And In the Matter of CANASEA OIL AND GAS GROUP PTE. LTD. (IN LIQUIDATION) (Co. Reg. No. *****0822H) COMPANIES WINDING UP NO. 183 OF 2014 NOTICE OF MEETING OF CREDITORS Take notice that a meeting of creditors in the
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    • 348 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 (“the Act”) AND IN THE MATTER OF ASATEL COMMUNICATIONS PTE. LTD. (“the Company”) (Co. Reg. No. *****0851Z) Notice of Resolutions for Members’ Voluntary Liquidation (Pursuant to Section 290) At an Extraordinary General Meeting of the Company held at Business Centre, Grand
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    • 370 17 BANKOFSINGAPORE Asia's global private bank A subsidiary of OCBC Book BANK OF SINGAPORE LIMITED Registration Number: *****0866R Registered Office: 63 Chulia Street, #10-00 OCBC Centre East, Singapore *****4 [:*<_:?&/(=*+/$')))^?>?[`^]'}<[ IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF BOOKABURRA BOOKS PTE LTD (PROVISIONAL LIQUIDATORS APPOINTED)
      370 words
    • 1143 17 CAPITAL ADEQUACY RATIOS AS AT 31 DECEMBER 2014 2014 2013 US$ million US$ million Tier 1 capital INDEPENDENT AUDITORS’ REPORT To The Member of Bank of Singapore Limited Report on the financial statements We have audited the accompanying financial statements of Bank of Singapore Limited (the ‘Bank’), which comprise the
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  • ENERGY & COMMODITIES
    • 607 18 Low prices and Beijing’s series of interest rate cuts in a bid to stoke growth are factors boosting oil demand REUTERS Singapore CHINA overtook the United States as the world’s top importer of crude oil for the first time in April,
      REUTERS; PHOTO: REUTERS  -  607 words
    • 376 18 BLOOMBERG Melbourne A CHINESE-LED A$7.4 billion (S$7.8 billion) iron ore project in Western Australia looks to be the latest casualty of the price decline, with Wood Mackenzie Ltd estimating it’s unlikely to begin output before 2020. “Mindful of the volatility in the iron ore
      BLOOMBERG  -  376 words
    • 631 18 WP Chicago THE rains that drenched dry wheat fields in Kansas are dousing prospects that the grain will emerge from a bear market. Improved soil moisture boosted prospects for crops in the United States, the largest exporter, at a time
      WP  -  631 words
  • Page 18 Advertisements
    • 66 18 T IT 1 "S* I -f* c RFS1 F U a n r 3 “N 6 ■v. v O v ft r JEl> i BLS A J J/' i r T i w^SSE* The muse comes when you least expect it. If you've had that aha moment, submit your best
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  • TECHNOLOGY
    • 1157 19 VR technology is part of urgent push to remake in-store shopping for generation of gadget-addicted customers WP Washington JOHN Goodwin has never been sky diving before. But here he is, staring out over a craggy, sun-drenched canyon in Moab,
      WP; PHOTO FOR THE WASHINGTON POST BY CHRISTOPHER GREGORY  -  1,157 words
    • 452 19 WP Washington TWO days before the jobs report is released every month, one New Jersey payroll company provides a snapshot of private-sector employment that economists and investors lean on for insight into the labour market in the US. Automatic Data
      WP  -  452 words
    • 318 19 REUTERS New York USAA, a San Antonio, Texas-based financial institution serving current and former members of the military, is studying the underlying technology behind the digital currency Bitcoin to help make its operations more efficient, a company executive said. Alex Marquez, managing
      REUTERS  -  318 words
    • 524 19 NYT New York YEARS ago, curing Aids was considered so out of the question that some scientists dared not even mention the possibility. But in the latest sign that attitudes are changing, the British pharmaceutical giant GlaxoSmithKline is teaming up with
      NYT  -  524 words
  • Page 19 Advertisements
    • 289 19 oo I? reddot award 2015 winner is o -> DETACHABLE Toshiba recommends Windows. Z20t 12.5" Detachable Ultrabook with 17.4 Hour Battery Life TIW Toshiba Digitizer Pen Included (Certifed by Wacom) ULTRAPORTABLE TABLET Complete Connectivity to a wide range of devices Micro HDMI (on Tablet) VGA HDMI (on Keyboard) For Corporate
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  • CONSUMER
    • 780 20 Sharp is reportedly planning a huge capital cut, while Toshiba withdraws profit forecast on accounting problems AFP Tokyo SHARP lost more than a quarter of its market value on Monday following reports that the struggling Japanese electronics giant is planning a drastic capital reduction to
      AFP  -  780 words
    • 559 20 BLOOMBERG New York A NEW box-office champion is coming soon to China and the world. Avengers: Age of Ultron, debuting in China on May 12, is poised to overtake Furious 7 as the Asian nation’s top-grossing movie, based on pre-re-lease
      BLOOMBERG; PHOTO: AFP  -  559 words
  • Page 20 Advertisements
    • 610 20 Formula For Workplace Success: Dress Right, Influence Positively, Reach Out Optimally Who should attend: Managers, Directors, Business Owners, Sales Professionals and Executives. FULL-DAY WORKSHOPS Brain-Influencing Secrets To Trigger 'Yes' Responses In People In the past 10 years, scientific discoveries have uncovered new communication keys one can use to appeal to
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  • GOVERNMENT & ECONOMY
    • 763 22 Move is meant to discourage firms from booking profits in lower-tax countries such as S’pore: President Joko’s aide BLOOMBERG Jakarta INDONESIA will gradually cut its corporate tax rate to discourage companies from booking profits in lower-tax countries such as
      BLOOMBERG  -  763 words
    • 773 22 XINHUA Beijing CHINA’S central bank cut interest rates starting on Monday in the face of inflationary pressure and economic headwinds, but experts say the step should not be interpreted as the start of quantitative easing (QE). The People’s Bank of China
      XINHUA; PHOTO: BLOOMBERG  -  773 words
    • 720 22 BLOOMBERG London MARK Carney may be getting ready to unsettle investors again. The Bank of England (BOE) governor has an opportunity this week to address bets that he’ll keep interest rates unchanged until mid-2016. Market sentiment shifted on Friday
      BLOOMBERG  -  720 words
    • 644 22 BLOOMBERG New York AMERICA means business or used to. Time was, anyone with a good idea and some startup money could take a chance and open a business. That risk-taking spirit kept millions of middle-class Americans upwardly mobile,
      BLOOMBERG  -  644 words
    • 484 23 Canberra taking the lead among G20 with crackdown on MNCs; new laws could come into effect Jan 1 REUTERS Sydney THE Australian government announced a world-leading crackdown on Monday on alleged tax avoidance by 30 multinational companies that will likely force
      REUTERS  -  484 words
    • 1114 23 Local firms unfazed by prospect of competition from foreign banks BLOOMBERG Hong Kong AS China considers whether to grant foreign investment banks greater access to its securities market, their biggest local competitor is undaunted. “it’s quite obvious who are the winners,”
      BLOOMBERG; PHOTO: REUTERS  -  1,114 words
    • 480 23 BLOOMBERG New York FOR all the anxiety over the global selloff in bonds, the big worry in money markets is the havoc being created by a dearth of US Treasury bills. The magnitude of the problem was on display last
      BLOOMBERG  -  480 words

  • Page 23 Advertisements
    • 374 23 The Business Times NOTICES Toll free 1800-289-8822 Email notices@sph.com, sg www.sphclass.com.sg/notices JKC FUND Sociétéd’InvestissementàCapitalVariable (The«SICAV») Registeredoffice:12,rueEugèneRuppert,L-2453Luxembourg R.C.S. Luxembourg N° B 144.551 NOTICE TO SHAREHOLDERS OF THE SICAV The shareholders of the SICAV are hereby informed that the Board of Directors decided to modify the denomination of certain classes of shares
      374 words

  • OPINION
    • 570 24 EDITORIAL EVEN if all the changes to the tax system announced in recent weeks come to pass when Australia’s federal budget is unveiled on Tuesday, it will not repair the deficit. There would still need to be further structural adjustments. Investment
      570 words
    • 711 24  -  THE BOTTOM LINE By Robert J Samuelson IT’S been called the “exorbitant privilege”; it might also be termed “the indestructible curse”. Americans are proud of the fact that the dollar their money is also the world’s dominant international currency. But this very same global
      711 words
    • 1228 24  -  Despite falling jobless figures in April, news of stagnant wages and low inflation mean the US central bank may postpone a hike in interest rates to year-end By Leon Hadar THINGS seem to be really looking good. The US unemployment rate
      PHOTO: AFP  -  1,228 words
    • 857 25  -  TT COMMENTARY By Changyong Rhee T The writer is director of the IMF’s Asia and Pacific Department ASIA and the Pacific are doing well, with the region expected to remain the world’s growth leader. This contrasts with the global economic landscape, where
      857 words
    • 134 25  -  LETTERS TO THE EDITOR Barnaby Matthews Head of derivatives, sea Macquarie Securities Group Macquarie capital Securities (Singapore) Pte Ltd BT PUBLISHED an article on May 4 2015 citing comments by a professional trader who had raised concerns with the Singapore Exchange and the
      134 words
    • 656 25  -  Mano Sabnani THE Singapore Exchange (SGX) urgently needs to review its key criteria for companies to consolidate their shares. It also needs to approve the ratios used for share consolidation and ensure no minority oppression is taking place. The current exercise
      656 words
    • 1113 25  -  Countries’ economic growth have lifted a massive number of people out of poverty. BY ANDREW HAMMOND BY ANDREW HAMMOND T The writer is an associate at LSE IDEAS at the London School of Economics and a former UK government special
      1,113 words


  • TRANSPORT
    • 557 26  -  Some players are cautious with credit margins decreasing and more plane order cancellations likely on the cards BY Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore SOME players in the aircraft financing market are taking a cautious view, given the backdrop of a large
      557 words
    • 532 26  -  COMMENTARY By Arthur Lee I ASKED my experienced colleague, a market reporter of some 20 years, if there is an element of price fixing in the current Certificate of Entitlement (COE) bidding system. He replied: “But it is in the interest of
      ST FILE PHOTO  -  532 words
    • 397 26  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore LOSS-MAKING IT and computer parts distributor Achieva plans to become the owner and operator of the ONE° 15 Marina Club in Sentosa Cove after buying over the business from its controlling shareholder for S$21 million, it said
      397 words
    • 622 26 NYT Boston AT A mock airport in an underground laboratory here at Northeastern University, students pretending to be passengers head through a security exit in the right direction, while a young man enters going the wrong way. On a nearby computer screen,
      NYT  -  622 words
    • 993 27 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville APL Vancouver V016E 16 May 06 Jun 22 Jun 26 Jun 29 Jun 01 Jul 03 Jul 06 Jul 08 Jul 10 Jul 10
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  • Page 26 Advertisements
    • 80 26 The first real estate and urban build conference in Myanmar LO II IHWc nvjanmat o CM Incorporating: Myanmar retail m Urban and City Planning Conference 2015 Real Estate Show Myanmar 2015 3 5 August 2015 Yangon, Myanmar I t Your gateway to trends and investment opportunities in Myanmar's real estate
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    • 61 26 HOT PROPERTY 3 ADJACENT UNITS. 45 yrs URA GFA 4811sf/unit. Good Frontage. Easy Access. 150 amp,high ceiling. TUAS TECHPARK B2 fty 2-sty+mezzanine land ***** sf, approved dormitory, bal 38 yrs. $6.5M. ISPACE: B2 RAMP-UP, developer units. Walk to MRT. Daily viewing: 5 Soon Lee St, #01-06. FACTORIES FOR SALE Check
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    • 41 26 _91.3 tinEF/7/ ■i DJ GUESSING GAME GUESS WHO'LL BE JOINING ANDRE HOEDEN ON ONE EM’S #1 BREAKFAST SHOW IN JULY! A GET IT RIGHT ONE FIVES #1 BREAKFAST SHOW COULD BE CALLING YOU WITH $10,000 CASH! fi facebook.com/onefmsg (Cj @onefmsg www.onefm.sg
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  • Page 27 Advertisements
    • 212 27 USE THIS SPACE TO SELL CALL JOE WONG AT *****327 TO ADVERTISE THE BUSINESS TIMES SHIPPING TIMES Experienced sh/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 Publicise Your Delivery Of Newbuildsl 5^: A
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  • LIFE & CULTURE
    • 247 28 AFP London JASON WATKINS beat Benedict Cumberbatch to take the Best Actor honour at Britain’s top television awards, while Georgina Campbell was named best actress by the British Academy of Film and Television Arts (Bafta). Cumberbatch, who plays Sherlock Holmes in the hit series
      AFP  -  247 words
    • 297 28 REUTERS Rome EATING healthy is becoming an expensive luxury in emerging market countries, where vegetable prices have spiked while high fat, sugary junk foods have become cheaper, economists said on Monday. Prices of fruit and vegetables rose by 91 per cent from
      REUTERS  -  297 words
    • 1072 28 Women battle for recognition in a male-dominated business world, only to have to drop out once their parents or parents-in-law grow old BLOOMBERG Tokyo HIROMI NAKASAKI remembers working past midnight on New Year’s Eve and during holidays as a business systems consultant
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,072 words
    • 675 28 Sydney STARRING in music videos at the age of 100, Eileen Kramer is probably the oldest working dancer and choreographer in Australia, if not the world and the centenarian revels in her age. “I don’t mind. I’m 100!”
      PHOTO: AFP  -  675 words
  • Page 28 Advertisements
  • Page 28 Miscellaneous
    • 341 28 CRYPTIC CROSSWORD Across 1 Food for picnic spread I chew visiting beach (10) 6 Mischievous child’s endless racket (4) 10 Balance achieved by former party of the centre right area (5) 11 Dog with tail docked in old-fashioned style I always must follow (9) 12 Work out clues with books,
      341 words

  • SME
    • 1201 29 AJA Enterprises draws similarities in its company’s business model to that of kueh lapis adding value one layer at a time.BY ELIZABETH MAK KUEH LAPIS that’s how Phillip Tan describes his company’s business model. The commercial director of homegrown blast mitigation company AJA Enterprises, along with founder
      PHOTO: YEN MENG JIIN  -  1,201 words
    • 854 30  -  A defined corporate ethos builds teamwork and is vital in attracting and retaining talent. But systems must be in place to support this. BY ROBERT CHEW The writer is chairman of the ‘Best Tech Company to Work For’ award presented by the Singapore
      854 words
  • Page 29 Advertisements
    • 338 29 OPEN FOR more BUSINESS t i L ONE-STOP PAYMENT AND BANKING SERVICE ACCEPT CARD PAYMENT ANYTIME, ANYWHERE CASH IN YOUR ACCOUNT THE NEXT DAY Your business deserves more. Every business deserves a big deal. With CIMB Bank and Wirecard, your business can now get the flexibility and benefits it truly
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  • Page 30 Advertisements
    • 132 30 Not Just I.T. We Deliver Trust. Your IT Service Provider Partner 'm Os "s m<r 0 o Stone Forest IT www.StoneForestlT.com Hotline+65 6594 7594 For enquiries, email to ITSales@StoneForestlT.com □□Day Sage CRM Sage 300 ERR IT Outsourcing IT Infrastructure Network Security businesspoung Affordable Flexible Office Space. Options to suit all
      132 words
    • 52 30 Blogs Miss Ann Thrope Write on the Money Metadata R Sivanithy shares his observations on the Singapore stock market at Write on the Money, Kenneth Lim discusses the news from a data-driven perspective at Metadata, while Joyce Hooi mercilessly points out the absurdities of life at Miss Ann Thrope. businesstimes.com.sg/blogs
      52 words

  • EMERGING ENTERPRISE 2015
    • 975 31  -  People, above all else, will continue to drive growth and progress in the island nation. BY MICHAEL PICH BY MICHAEL PICH The author is dean of Executive Education at insead, which opened its Singapore campus in 2000. in January this year, it
      PHOTO: INSEAD  -  975 words
  • Page 31 Advertisements
    • 115 31 THE titL't, Compctitl Unique Value Propositi© Resilience Business Vision Manage People ment Stj Scalability Of Business tegy With up to worth of prizes, you’ll have the support you need to realise your business plans. Applications close on June 9,2015. Apply today at www.EEaward.com Emerging Enterprise Award THE BUSINESS TD1ES QoCBCBank
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  • Page 32 Advertisements
    • 53 32 4. v* *y* i jr v; r 5T-T; y •;'.*>-'>■ '’JS >*-a* <•!*. l-s'. V V- -•s-VtK W; ■<:: “•v** A** i > 1 r jf- f-J- t 7 m -tf ifeSy > ww-* -'ey /V X J m v v.■ i •.i* j :£*>•• V. > i tv. n.
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