The Business Times, 19 May 2015

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Total Pages: 28
1 28 The Business Times
  • 34 1 THE BUSINESS TIMES 2015 SOCIETY OF NEWS DESIGN EXCELLENCE AWARD■BEST IN OVERALL REDESIGN■ S$1.00 $h A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg [3 I D@BTBreakingnews CO REGN NO *****2868E MCI (P) 05’!/O8/2014 Tuesday, May 19,2015
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  • Article, Illustration
    248 1 The chief economist of the Bank of Japan offers an upbeat assessment of the short-term prospects for the world’s third-largest economy.TOP STORIES 2 IF Singapore is to improve on its service standards, says Prime Minister Lee Hsien Loong, all stakeholders companies, service staff and customers have to do
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  • 28 1 MARKETS Monday Change STI 3,459.57 -3.53 KL COMP 1,823.50 +11.58 NIKKEI 225 19,890.27 +157.35 HANG SENG 27,591.25 -231.03 SHENZHEN B 1,555.89 +24.42 DOW (11.45am EDT) 18,289.47 +16.91
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  • 641 1  -  Modest showing far cry from 18.5% rise in March, but still surprises as market had expected a 5% contraction By Chuang Peck Ming peckming@sph.com.sg @PeckmingB NON-OIL domestic exports failed to maintain their momentum of March, with year-on-year growth in April slumping back to
    Source: IE Singapore  -  641 words
  • 1100 1  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore LEGISLATIVE changes to the Housing Developers (Control and Licensing) Act will now require developers to provide detailed sales data on a weekly basis and disclose the value of any benefits to buyers in transaction
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  • Page 1 Advertisements
    • 122 1 8 "*****1 *****4 GIC IN SEOUL GIC to buy Seoul mall with Canadian fund for US$263m TOP STORIES 6 Carrier CALIBRE DE CARTIER DIVER MANUFACTURE MOVEMENT 1904 MC WATER-RESISTANT TO 300 METRES, THE CALIBRE DE CARTIER DIVER WATCH IS AN AUTHENTIC DIVING WATCH. FITTED WITH THE 1904 MC MOVEMENT, IT
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    • 23 1 CBRE HOTELS S’pore hotel market to stay challenging REAL ESTATE 12 STRATEGIC MOVE Digiland forms energy-trading joint venture in Malta COMPANIES MARKETS 7
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    • 11 1 SCCCI REACHES OUT SMEs told to adapt, be pro-active SME 26
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  • TOP STORIES
    • 699 2  -  Falling oil prices seen shaving over 10t yen from energy bill, more than the 8t yen hit from last year’s sales tax hike By Anthony Rowley btworld@sph.com.sg Tokyo THE chief economist of the Bank of Japan (BOJ) on Monday offered an upbeat
      PHOTO: AFP  -  699 words
    • 878 2  -  By Hugo Dixon SM REUTERS BREAKINGVIEWS V*. London REFORMING the European Union involves more than renegotiating the UK’s relationship with it. That may sound like a statement of the obvious, but in the British debate over staying in the EU, the two have virtually
      SM REUTERS BREAKINGVIEWS V*.  -  878 words
    • 722 2 BLOOMBERG Athens GREEK banks are running short on the collateral they need to stay alive, a crisis that could help force Prime Minister Alexis Tsipras’ hand after weeks of brinkmanship with creditors. As deposits flee the financial system, lenders use collateral parked
      BLOOMBERG  -  722 words
    • 766 4  -  Businesses, service staff and customers all have a role to play in transforming the service industry; nation’s service culture “not quite where we want to be yet” By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore IF Singapore is to improve on its service
      PHOTO: DESMOND WEE/ THE STRAITS TIMES  -  766 words
    • 433 4  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore THE Ministry of Education (MOE) on Monday launched Enhanced Post-Di-ploma Certificate (PDC) courses in areas such as information and communication technologies (ICT), engineering and the applied sciences all designed to deepen the skills of those who
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    • 408 4  -  By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore SINGAPORE on Monday signed two memorandums of understanding (MOUs) one on cyber security with France, and another on trade-mark cooperation with China. The former is the Cyber Security Agency of Singapore’s (CSA) first international MOU. It
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    • 428 6  -  investment reflects confidence in long-term growth of Korean domestic demand, says GIC By Kenneth Lim kenlim@sph.com.sg @KennethLimBT GIC and the Canada Pension Plan Investment Board (CPPIB) have bought the retail mall portion of South-Kore-an megacomplex D-Cube City for US$263 million,
      PHOTO: D-CUBE CITY  -  428 words
    • 525 6  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT FACED with persistent low interest rates, insurers need to proactively seek solutions to beat the blues, said analysts, adding that they could either reprice products or adjust new business guarantees or bonuses to reflect the market
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  • Page 2 Advertisements
    • 27 2 Save up to 50% Now on! Sale ends 7 June 2015 spacefurniture.asia Open 10.30am to 8.00pm daily Space Furniture 77 Bencoolen Street, Singapore *****3 +*****5 0000 SPAC
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  • Page 4 Advertisements
    • 371 4 Broadcasthsia2B15 0ammuninnsia2II15 [ntErnriseMT2ai5 www.Broadcast-Asia.com LEVEL 4 5 www.CommunicAsia.comwww.goto-enterpriselT.com BASEMENT 2, LEVEL 1 &3 2 5 JUNE 2015 MARINA BAY SANDS, SINGAPORE Asia's most comprehensive showcase of innovative technologies in the ICT, Entertainment and Broadcasting industries Witness the most comprehensive and updated range of innovative technologies 3D Printing Cameras Lenses Lighting
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  • Page 5 Advertisements
    • 297 5 (formerly known as CitySpring Infrastructure Trust) CREATING the flagship investment platform for SINGAPORE INFRASTRUCTURE KEPPEL MERLIMAU COGEN PLANT (Approved acquisition; expected to be completed by 3Q 2015) SENOKO WTE PLANT CITY GAS KEPPEL SEGHERS TUAS WTE PLANT Keppel Infrastructure Trust (KIT) is the largest Singapore infrastructure-focused business trust listed on
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  • Page 6 Advertisements
    • 561 6 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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  • COMPANIES & MARKETS
    • 619 7  -  Partnership with Maltese agency to develop Malta into a Europe-Asia energy trading hub By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore DIGILAND International, an ailing IT company which a year ago announced plans to transform itself into an oil and gas player, has entered
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    • 420 7  -  HOT STOCK Source: Yahoo By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore SHARES of mainboard-listed Internet stock YuuZoo surged in active trading on Monday, closing the day 21.4 per cent or S$0.037 up at S$0.21. The stock opened trading 0.1 Singapore cent higher at
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    • 344 7  -  By Jamie Lee, Jacquelyn Cheok leejamie@sph.com.sg jaccheok@sph.com.sg @JamieLeeBT @JacCheokBT Singapore THE Ascott, CapitaLand’s wholly owned serviced residence business unit, on Monday said that it plans to almost double its apartment units in Europe by 2020, and that this could
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    • 381 8  -  IDA says it will not tolerate tactics that may bring disrepute to the telco industry By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore SINGTEL on Monday was issued a “stern warning” by the Infocomm Development Authority of Singapore (IDA) for the telco's role in
      ST FILE PHOTO  -  381 words
    • 757 8 BLOOMBERG Kuala Lumpur MALAYSIA’S top-performing fund manager is adding to holdings of the nation’s small-cap stocks, betting that a bull-market rally will continue as earnings improve and valuations trail larger peers. Kenanga Investors Bhd favours exporters and builders as the US
      BLOOMBERG  -  757 words
    • 398 8  -  By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore EZION Holdings has rejected as “frivolous and without merit” claims that it was behind a conspiracy to induce an AP Moeller-Maersk unit to breach charter agreements. On Monday, Bloomberg had reported that Atlantic Marine Services BV (AMS) had
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    • CORPORATE DIGEST
      • 59 8 JILIN Midas Aluminium Industries a Midas Holdings subsidiary has secured contracts worth 328.9 million yuan (S$70.1 million) for the supply of highspeed train car body components in China. “Slated for delivery in 2015, the contracts are expected to contribute positively to Midas’ financial performance for the financial year
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      • 67 8 FRESHLY listed Boustead Projects has been awarded a S$34 million contract to design and build an integrated commercial and logistics facility for World Furnishing Hub. The seven-floor facility to be located in the Sungei Kadut Industrial Estate in Singapore will be completed in Q3 2016. Listed on the
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      • 50 8 KEPPEL Seghers has handed over Phase 2 of the Runcorn Energy-from-Waste (EfW) facility in the UK to the client. Keppel Seghers comprising Keppel Seghers Belgium NV and Keppel Seghers UK Ltd is a wholly owned subsidiary of the Keppel Infrastructure group, which is a division of Keppel Corporation.
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      • 66 8 TAN Kim Han Raymond has resigned as the chief financial officer (CFO) and company secretary of SIIC Environment Holdings, with effect from May 15, 2015. While the company will appoint executive director Xu Zhan as CFO, it said it would “continue to find a suitable candidate to
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    • 318 9  -  The plant, using Hyflux technologies, will supply drinking water to residents of Pun Hlaing Golf Estate By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore MAINBOARD-LISTED Yoma Strategic Holdings on Monday announced the opening of a potable water plant at Pun Hlaing Golf
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    • 479 9 Larsen Toubro ready to help infotech unit scale up in preparation for its IPO BLOOMBERG Mumbai LARSEN Toubro Ltd, India’s biggest engineering company, is open to spending as much as US$1 billion on acquisitions for its software-services unit as the subsidiary prepares for an initial public offering. Buying companies will
      BLOOMBERG  -  479 words
    • 516 9 BLOOMBERG Hong Kong COFCO Corp, China’s largest food company, has invited investment banks to submit proposals for a possible group restructuring, people with knowledge of the matter said. The Beijing-based firm, which controls eight listed companies, will consider combining units and selling
      BLOOMBERG  -  516 words
    • 721 10  -  HK slide contributes to weakness; traders latch on to situational plays such as Ezion, which falls 4.6% TTSTOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THE main difficulty dealers have faced in the past year is finding suitable adjectives to describe the local market printable ones, that is.
      Source: Bloomberg  -  721 words
    • 308 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 250 unch 252/249 271 219 5.8 6321.9 CapitaLand 353 +3 353/346 379 293 12.9 2.5 *****.8 CapitaMall Trust 219 unch 220/218 228 188.5 4.9 7598.7 CityDev 1021 -1 1025/1015 1095 915 12.3
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    • 33 10 VOLUME Digiland Intl 270,881,000 Yuuzoo 70,973,000 Jaya 70,183,000 SinoConstruction 55,823,900 IHC 52,467,400 Market volume 1,919,646,000 VALUE Singtel 97,690,407 CapitaLand 42,123,378 Ezion 39,333,398 Keppel Corp 36,280,489 Genting Sing 31,343,274 Market value 971,860,000
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    • 107 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS India US$ US745 +6 330 746/742 1000/696 746/747 93.1 STI ETF 350 213 351/349 355/319 349/350 UETF SSE50China 291 -4 62 295/289 318/140 290/294 90.9 ABF SG Bond ETF 114.4 -0.6 45 115.4/114.4 123.5/110.2
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    • 77 10 May 18 VALUE CLOSE BT OB/OS -355.00 +130.00 BT CADI -*****.00 +34.00 BT 10-day MA -*****.00 -36.00 FTSE ST Mid Cap 789.52 +0.79 FTSE ST Small Cap 496.50 +2.36 FTSE ST All Share 830.09 -0.30 FTSE ST China Top 212.12 +0.62 FTSE ST China 248.07 +0.51 FTSE
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    • 75 10 BY CENTS CLOSE UP 52w high/low SPDR S&P500 US$ ***** 179.8 0.6 *****/***** GLD US$ ***** 129.6 0.8 *****/***** DBXT S&P500 US$ 3591 47.6 1.0 3626/3097 Lyxor MS India US$ 1635 33.1 1.6 1840/1546 Lyxor LATAM US$ 572 21.2 2.9 773/519 BY PERCENTAGE CLOSE UP 52w high/low Metech Intl
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    • 35 10 STI FTSE ST All-Share FTSE ST All-Share index May 18,2015 830.09 -0.30 (-0.04%) Current streak 1 day Day high 831.12 Day low 828.39 52-week high 847.98 (Apr 15, 2015) 52-week low 762.71 (OCt 16, 2014)
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    • 33 10 STI MSCI EAFE MSCI EAFE index May 15,2015 1,949.49 +7.02 (+0.36%) Current streak 3 days Day high 1,955.51 Day low 1,940.31 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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    • 186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 7 3 0 0 0 4 7 3 Manufacturing 53 40 40 8 13 9 61 53 49 Commerce 20 24 16 4 4 3 24 28 19 Tpt/Stor/Comms 15 16 10
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    • 123 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 12,837 12,837 59,194 59,194 Manufacturing 182,738 51,013 233,751 96,647 7,288 103,935 Commerce 364,360 63,035 427,395 38,791 2,874 41,664 Tpt/Stor/Comms 187,142 150 187,292 196,070 10 196,080 Finance 26,153 254 26,407 112,152 46 112,198 Construction 95,261 11,504
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    • 74 10 BY CENTS CLOSE DOWN 52w high/low JMH USD 6153 -128.3 -1.6 6788/5700 DBXT MSTHAI US$ 2043 -96.5 -3.4 2300/1886 DBXT Vietam US$ 2250 -84.6 -2.8 3100/2250 DBXT China50 US$ 4001 -60.8 -1.1 4258/2795 Lyxor ChinaH US$ 1889 -48.9 -1.9 2041/1280 BY PERCENTAGE CLOSE DOWN 52w high/low Innopac W*****0 0.1
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    • 81 10 VOL CLOSE($) CHANGE Infinio 15,985.1 0.003 +0.001 +50.00 PNE Industries 585.0 0.159 +0.024 +17.78 LifeBrandz 24,020.0 0.002 -0.001 -33.33 China Sports 23,138.3 0.022 +0.003 +15.79 OLS 31,472.0 0.007 +0.001 +16.67 Luzhou Bio-Chem 650.0 0.028 +0.005 +21.74 Kingboard Copper 1,335.7 0.176 +0.024 +15.79 Lizhong Wheel 260.0 0.335 +0.040 +13.56
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    • 453 10  -  Compiled by Jamie Lee Ezion Holdings Sell May 18 close: S$1.13 Target price: S$0.88 KGI Fraser Research, May 18 The deteriorating rig market from the oversupply has caused us to be more bearish on the offshore rig sector, especially owners of old assets. We see Ezion’s drilling rigs
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    • 387 11 CURRENCIES REUTERS London THE US dollar clawed its way higher on Monday, recovering from almost four-month lows reached late last week on another surprisingly bad round of US economic data. Against the euro, it rose 0.4 per cent to US$1.1404, taking back a small portion
      REUTERS  -  387 words
    • FOREX RATES
      • Article, Illustration
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      • 471 11 May 18 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.963 4.960 0.702 6.198 50.883 105.069 0.957 8.681 2.856 1.078 81.518 35.572 1.058 9.468 0.736 24.330 26.697 0.510 0.800 Canada 1.038 5.151
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      • Article, Illustration
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      • Article, Illustration
        1 11
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      • 155 11 May 18 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0569 1.0584 0.7993 0.7998 Canadian dollar 1.0976 1.0989 0.8304 0.8301 Euro 1.5062 1.5076 1.1391 1.1393 NZ dollar 0.9805 0.9819 0.7415 0.7420 Sterling pound 2.0738 2.0759 1.5683 1.5687
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      • 23 11 May 18 S$ S$ Bid Offer 1-month 1.3227 1.3240 2-months 1.3231 1.3245 3-months 1.3237 1.3248 6-months 1.3251 1.3267 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • 205 11 May 18 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left WE Holdings Ltd W*****5 0.2 unch ***** 1 0 3 FTSEChinaA50 ***** MBeCW*****0 6.6 -1.5 3839 0.0 --2 KepCorp MB eCW*****1 8.7 0.1 3256 0.2 930 4
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      • 373 11 In local curr In S$ In US$ dy yr dy yr dy yr May 15 Index Change Change Change Change Change Change World Preliminary 1353.1 0.0 6.1 0.1 5.1 0.1 5.6 EAFE Preliminary 1094.3 0.2 10.9 0.4 9.4 0.4 9.8 Europe Preliminary 1527.5 -0.3 10.6
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      • 395 11 May 18 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.45 *****.45 *****.09 May15 *****.00 *****.50 *****.00 *****.00 *****6 *****8 Jun15 *****.50 *****.00 *****.00 *****.50 ***** ***** NIKKEI 225 INDEX FUTURES SPOT *****.16 *****.27 *****.22 Jun15 *****.00 *****.00 *****.00 *****.00 ***** *****6 Sep15
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    • BANK RATES
      • 36 11 May 18 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.***** SOLIVCSI THDTHSOI7 RQUTGFS
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      • 154 11 May 18 $S Offer Bid 0vernight 0.05 0.03 1-month 0.6875 0.5625 2-months 0.75 0.625 3-months 0.8125 0.6875 Overnight mode: 0.03 US$ 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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      • 67 11 May 18 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.56 102.58 102.58 5-Year N*****0H 1.625 01-Oct-19 100.39 10-Year NY*****H 3.000 01-Sep-24 106.51 106.70 106.55 15-Year NY*****E 2.875 01-Jul-29 103.28 103.45 103.45 20-Year NZ*****V 3.375 01-Sep-33 108.54 108.78 108.78
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    • AGRI METALS ENERGY
      • 193 11 May-15 Price Net change change Last Trade Agricultural May-15 CBOT Soybeans (US cents/bu) 953.25 -3.75 -0.39% 14/07/2015 CBOT Soybean Oil (US cents/lb) 33.07 -0.27 -0.81% 14/07/2015 CBOT Wheat (US cents/bu) 511.00 -3.25 -0.63% 14/07/2014 May-15 LIFFE Cocoa (£/tonne) 2068.00 19.00 0.93% 16/07/2015 LIFFE Coffee (US$/tonne) 1701.00 -3.00 -0.18%
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      • 57 11 May 18 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 15 2180.0 2189.0 2195.0 2177.0 1666 ***** Jun 15 2175.0 2187.0 2193.0 2172.0 8362 ***** Jul 15 2175.0 2182.0 2188.0 2169.0 ***** ***** Aug 15 2181.0 2184.0
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  • Page 7 Advertisements
    • 297 7 A New Milestone For A Great Journey IG Logistics Group is appointed the exclusive Shipping Logistics provider at Bintan Industrial Estate (BIE) for a period of 5 years with an option of another 5 years, with effect from 18 May 2015. Our new Landing Craft Transporter (LOT) IG SunTzu is
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  • Page 8 Advertisements
    • 219 8 Wholesale Investor and ShareInvestor are proud to host the Singapore Capital Expo and Small Cap Showcase 2015. With our partners Bloomberg, SGX, PwC, DLA Piper, NZTE and AusBiotech, we will bring together up to 500 high net worth, professional and international investors, executives, brokers, fund managers, media and industry participants
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    • 79 8 The first real estate and urban build conference in Myanmar LT> o CM I nTjanmar Incorporating: Myanmar retail Urban and City Planning Conference 2015 Real Estate Show Myanmar 2015 3-5 August 2015 Yangon, Myanmar I m i A Your gateway to trends and investment opportunities in Myanmar's real estate For
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    • 61 8 Hospitality Investment Conference Indian Ocean Maldives Mauritius Seychelles Sri Lanka 25-26 May 2015 Galle Face Hotel, Colombo A New Era sN Group bookings available too! Enjoy up to 20% discount* if you sign up in groups of 3 or 6. *Terms and conditions apply To register, visit www.hicio.sphereconferences.com or contact
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  • Page 9 Advertisements
    • 166 9 MBFC TOWER 2 PSA BUILDING SIX BATTERY RD Bi SUNTEC TOWER 3 9 THE METROPOLIS SINGAPORE’S FINEST SERVICED OFFICES Fully furnished prestigious offices Business registration offices available Dedicated receptionist answering your calls the way you would like Meeting rooms, bilingual secretaries Global IT infrastructure 5 days free at any location
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    • 1046 9 FIRST COMMERCIAL BANK, LTD. (Incorporated with limited liability in Taipei, Taiwan, R.O.C.) CONSOLIDATED BALANCE SHEETS as of December 31, 2014 and 2013 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME for the years ended December 31, 2014 and 2013 NT$,000 2014 2013 ASSETS Cash and cash equivalents 59,483,428 52,528,179 Due from the Central
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  • REAL ESTATE
    • 548 12  -  It cites high prices and limited asset supply, adding that investors turned more cautious in Q1 By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore THE Singapore hotel market will likely remain challenging for buyers in the short term due to the high
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    • 1316 12 NYT London JOYCE Ge, a student from China who is studying business management at King’s College, pays £880 (S$ 1,830) a month to live in a pint-size, stylish studio apartment in the far reaches of east London, in a building with
      NYT; PHOTO: ANDREW TESTA/THE NEW YORK TIMES  -  1,316 words
    • 486 12 Kips Bay Show House looks like a million bucks make that US$35m WP New York STEPPING onto the cool champagne marble floor in the octagonal foyer of the seven-storey townhouse at 58 E 66th St, you can’t imagine that you’re going to feel at home. But wait is that red
      WP  -  486 words
    • 662 13 But there is little change from March, adding to hopes that a property downturn is bottoming out CHINA PROPERTY MARKET REUTERS Hong Kong CHINA’S new home prices fell for the eighth consecutive month in April from a year earlier but
      REUTERS; PHOTO: REUTERS  -  662 words
    • 607 13 BLOOMBERG Hong Kong THE US$19.2 billion of share sales this year by Chinese developers is proving a boon for bondholders, boosting not only the indebted companies’ cash levels but also their ability to repay creditors. The equity offerings by homebuilders since
      BLOOMBERG  -  607 words
  • Page 12 Advertisements
    • 139 12 RARE OPPORTUNITY Large Factory in Ang Mo Kio for Sale Site area Approx. 16,500 sq m 177,604 sq ft Built-up area Approx. 31,730 sq m 341,539 sq ft 2014 Master Plan Zoning Business 2, Plot Ratio 2.5 Tenure 60yrs wef 1/4/1981 Balance 26 years) Suitable for Corporate SME expansion Centrally
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    • 312 12 RARE OPPORTUNITYTO ACQUIRE A PORTFOLIO OF FREEHOLD SHOPHOUSES a ii Ml I SOO CHOW WALK, OFF UPPERTHOMSON ROAD TANJONG KATONG ROAD TANJONG KATONG ROAD SOUTH BUONAVISTA ROAD SOUTH BUONAVISTA ROAD FIGARO STREET, OFF UPPER EAST COAST ROAD A 2-storey corner plot •Approx.2,000sf 3,800sf Dual road frontage Tenanted I st storey
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    • 19 12 Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices
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  • Page 13 Advertisements
    • 406 13 Tai Seng Avenue A 7-storey industrial building Located within the Raya Lebar iPark Land Area; 27,000 sq ft (approx.) Gross Floor Area: 68,000 sq ft (approx.) JTC balance lease of 51 years Short walk to Tai Seng MRT Station Suitable for media industry FOR SALE BY EXPRESSION OF INTEREST Closing:
      406 words
    • 480 13 For Sale By Expressions of Interest Childcare Eldercare Space with Prominent Road Frontage Jurong Rd Bukit Timah Nature Reserve Old Bukit Regency Springdale Southaven I Southaven II Jalan Anak Bukit German European School Cheong Chin Nam Rd Yuk TongAve Charisma View Grand Chateau Royal Court Grand Regency Ground floor space
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  • BANKING & FINANCE
    • 905 15 Managers choose instead to invest their vast personal wealth via “family offices” NYT New York FOR decades, nearly everything that billionaire Julian Robertson touched turned to gold. Mr Robertson, founder of the hedge fund Tiger Management, seeded a network of hugely successful “Tiger
      NYT; PHOTO: BLOOMBERG  -  905 words
    • 628 15 BLOOMBERG New York IT WAS supposed to be so easy. Borrow in euros as the European Central Bank kept interest rates near zero and use the proceeds to invest in the economies where rates are higher, pocketing the difference and generating
      BLOOMBERG  -  628 words
    • 387 15 BLOOMBERG Caracas VENEZUELA’S economic collapse is driving factories out of business, leaving store shelves barren and wiping out workers’ purchasing power. But MasterCard Inc is doing just fine. Two powerful forces are pushing Venezuelans to rely increasingly on credit cards amid the chaos: runaway inflation and
      BLOOMBERG  -  387 words
  • Page 15 Advertisements
    • 490 15 The Business Times NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.sphclass.com.sg/notices Rabobank Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. Head Office Croeselaan 18, 3521 CB Utrecht, The Netherlands Singapore Branch 38 South Beach Road #31-11 South Beach Tower Singapore *****7 EXECUTIVE BOARD Wiebe Draijer (W.), Chairman From 1 October 2014 Rinus Minderhoud (M.), Chairman
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  • ENERGY & COMMODITIES
    • 755 16 It comes amid claims that world’s biggest miners are flooding market to drive smaller competitors out of business AFP Sydney THE huge iron ore industry in Australia faces the threat of a parliamentary inquiry amid claims the world’s biggest miners, including
      AFP; PHOTO: REUTERS  -  755 words
    • 446 16 BLOOM BERG London THE World Bank’s private lending arm is targeting investments in natural gas companies in China, the largest growing market for the fuel. The International Finance Corp (IFC) is investing US$150 million in gas distribution company China Tian Lun Gas Holdings Ltd
      BLOOMBERG  -  446 words
    • 400 16 BLOOMBERG New York SPECULATORS are losing faith in the oil rally, judging that Opec will keep increasing supply from the highest level since 2012. Their net-long position in West Texas Intermediate crude dropped 2.1 per cent, as long wagers fell
      BLOOMBERG; PHOTO: BLOOMBERG  -  400 words
    • 311 16 REUTERS Kuala Lumpur IRAN hopes its crude oil exports will return to pre-sanctions levels within three months once a deal with major powers to lift an oil embargo is finalised, the country’s deputy oil minister said on Monday. “We hope
      REUTERS  -  311 words
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    • 1454 16 BANK OFTAIWAN Head Office Address: No. 120, Sec. 1, Chongqing South Road, Zhongzheng District, Taipei City *****, Taiwan (R.O.C.) Tel: 886-2-2349-3456 BOARD OF DIRECTORS Chairperson Lee, Jih-Chu Managing Directors Shiau, Chang-Ruey, Wu, Tang-Chieh, Yang, Cheng-Chen Independent Managing Director Hsu, Yi-Hsiung CONSOLIDATED BALANCE SHEETS Unit NT$1,000 Dec 31, 2014 Dec 31,
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  • TECHNOLOGY
    • 895 17 US administration faces end-of-May deadline to decide whether to take sides in case before US Supreme Court REUTERS San Francisco THE Obama administration has been locked in internal wrangling over what position to take in high-profile litigation between two American technology
      REUTERS  -  895 words
    • 668 17 NYT MOSCOW FEW people looking to buy a trendy, state-of-the-art smartphone anywhere in the world today would even think about a Russian model, but the makers of the YotaPhone aspire to change that. The startup’s quest to break into the
      NYT; PHOTO: BLOOMBERG  -  668 words
    • 483 17 NYT New York FOR many of the largest Silicon Valley technology companies, location software undergirds numerous applications and features in their products. For Apple, it has been a game of catch-up. To that end, Apple confirmed on Sunday that it had purchased Coherent
      NYT  -  483 words
  • Page 17 Advertisements
    • 282 17 Z20t 12.5" Detachable Ultrabook™ with 17.4 Hour Battery Life* ir-: o i. redact award 2015 winner DETACHABLE Toshiba recommends Windows. Toshiba Digitizer Pen Included (Certifed by Wacom) ULTRAPORTABLE rE=T\ Complete Connectivity to a wide range of devices Micro HDMI {on Tablet) VGA HDMI (on Keyboard) For Corporate Reseller Corporate Inquiries,
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  • CONSUMER
    • 860 18 Last year, it took in almost US$6 billion in sales in the US and made up 40 per cent of the company’s global revenue NYT New York FOR years, Stefan Larsson was Gap’s worst nightmare, as he led
      NYT; PHOTO: BLOOMBERG  -  860 words
    • 211 18 REUTERS Shanghai CHINESE e-commerce giant JD.com Inc has tied up with leading Chinese drugmaker Shanghai Pharmaceuticals Holding Co Ltd to develop its online healthcare business, the drugmaker said in a filing on Monday. The move reflects a growing rivalry between Chinese e-commerce
      REUTERS  -  211 words
    • 575 18 AFP Washington JET.COM has yet to launch its online retail site to the public, but has already drawn attention as a would-be game-changer that could take on Internet giant Amazon. Jet has raised US$220 million so far for an e-commerce service with
      AFP  -  575 words
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  • GOVERNMENT & ECONOMY
    • 1122 19 James Tobin’s Q ratio indicates equities in US are valued about 10% above cost of replacing their underlying assets BLOOMBERG New York IF you sold every share of every company in the United States and used the money to buy
      BLOOMBERG; PHOTO: AFP  -  1,122 words
    • 428 19 Jiangsu province auctions 52 billion yuan of three to 10-year municipal bonds REUTERS Shanghai CHINA’S Jiangsu province auctioned 52.2 billion yuan (S$11.2 billion) of three to 10-year municipal bonds on Monday at close to sovereign yields, offering some reassurance that
      REUTERS  -  428 words
    • 452 19 REUTERS Yangon UP to five companies are expected to list on Myanmar’s stock exchange when it opens in October, according to an official overseeing the creation of a market that will help develop an economy stifled by 49 years of military rule.
      REUTERS  -  452 words
    • 636 20 Overseas investors who have experienced Chinese corporate failures feel they are treated like a nuisance; uptick in filings seen as country’s slowdown continues REUTERS Hong Kong AS China’s economy slows and Beijing becomes more relaxed about letting its companies fail, a rising number
      REUTERS  -  636 words
    • 420 20 AFP Seoul INDIAN Prime Minister Narendra Modi arrived in Seoul on Monday for a two-day visit heavily focused on economic ties with Asia’s fourth-largest economy and beefing up investment from South Korean firms. Following talks with President Park Geun-Hye,
      AFP; PHOTO: AFP  -  420 words
    • 257 20 REUTERS Hong Kong FOREIGN investors have welcomed assurances by China’s securities watchdog that their shareholding rights are recognised in the country, in a development that should boost trading on a landmark Hong Kong-Shanghai trading link. The so-called Stock Connect project went live in November,
      REUTERS  -  257 words
    • 1249 20 BLOOMBERG Hong Kong IN its quarterly report, the People’s Bank of China questioned the merits of transparency, saying too much openness could lead to “pressure from various sides”. Such a stance and its unscheduled policy moves come as governor Zhou
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,249 words
    • 773 21 Key to increasing economic growth above current 2.5% pace is investment by firms outside resource industry BLOOMBERG Sydney AUSTRALIA retains scope to lower interest rates further, the central bank’s second in command said, while warning against spurring a debt-fuelled
      BLOOMBERG; PHOTO: BLOOMBERG  -  773 words
    • 478 21 BLOOMBERG Bangkok THAILAND’S economy barely grew last quarter as rising government spending failed to counter falling exports and weakening local demand. The outlook for the rest of the year isn’t that much better. Gross domestic product rose 0.3 per cent in the
      BLOOMBERG  -  478 words
    • 843 21 Three of country’s five biggest banks report increase in soured assets for year ended March 31 BLOOMBERG Mumbai STRESSED assets of Indian lenders are seen rising to the highest in at least 14 years and Bank of Baroda’s chief executive officer
      BLOOMBERG  -  843 words
    • 912 21 NYT Kiev, Ukraine THE country is on the cliff of bankruptcy. A spate of politically motivated killings and mysterious suicides of former government officials has sown fear in the capital. Infighting has begun to splinter the pro-Eu-ropean majority coalition in
      NYT  -  912 words
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  • OPINION
    • 517 22 ACCORDING to an NBC News/Wall Street journal opinion poll conducted in 2014, 42 per cent of Americans picked Bill Clinton as the president they admired the most, followed by current president Barack Obama at 18 per cent. EDITORIAL
      517 words
    • 781 22  -  THE BOTTOM LINE By Robert J Samuelson THE WASHINGTON POST WRITERS GROUP THIS is no time to get all worked up over China’s currency manipulation. To use it as an excuse to resist the Obama administration’s pro-trade posture is perverse. This opposition
      THE WASHINGTON POST WRITERS GROUP  -  781 words
    • 1347 22  -  The legislative process of the US Congress on the Trans-Pacific Partnership bill is likely to be long and very messy and ugly, with no guarantee that it will actually be passed in the end By Leon Hadar THE legendary German Chancellor Otto von
      PHOTO: REUTERS  -  1,347 words
    • 881 23  -  COMMENTARY By Dominic Montagu T The writer is associate professor of epidemiology at the University of California, San Francisco THIS week, health ministers from around the world gather in Geneva for the annual meeting of the World Health Organization (WHO). While
      881 words
    • 904 23  -  By Tan Siang Hee T The writer is executive director of CropLife Asia, a non-profit society and regional arm of CropLife International, the voice of the global plant science industry. FOR many businesses in Singapore and the region, Earth Day on April
      904 words
    • 1277 23  -  If his recent charm offensive in China works, he could bring in more Chinese investments into Indian manufacturing.BY GIRIJA PANDE manufacturing.BY GIRIJA PANDE T The writer is chairman of Apex Avalon Consulting, Singapore, and ex-chairman of Tata Consultancy in
      PHOTO: AFP  -  1,277 words


  • TRANSPORT
    • 867 24 More vehicles recalled with no agreement between Takata and carmakers on cost split REUTERS Tokyo AIR BAG manufacturer Takata Corp and Japanese carmakers including Honda Motor Co are locked in the commercial equivalent of a bad marriage; not entirely happy in each other’s
      REUTERS; PHOTO: AFP  -  867 words
    • 822 24 BLOOMBERG Beijing THE horrific incident shocked the country when it went viral in China earlier this month: a woman dragged from her car, thrown to the ground and kicked repeatedly in the face and head in a case
      BLOOMBERG  -  822 words
    • 455 24 BLOOMBERG New York THERE’S nothing like a good old Detroit bragging contest. General Motors Co’s (GM) bread-and-butter Chevrolet brand took the wraps off its new Camaro, revealing a performance version that tops the Ford Mustang’s by 20 horsepower. GM is boasting
      BLOOMBERG; PHOTO: REUTERS  -  455 words
    • 854 24 NYT New York IT IS a natural question, one that many people have raised before, and have raised again since Tuesday’s fatal Amtrak crash in Philadelphia: Should trains have seat belts? Transportation experts have asked that question, too, in studies
      NYT  -  854 words
    • 979 25 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville APL Columbus V010E 23 May 06 Jun 22 Jun 26 Jun 29 Jun 01 Jul 03 Jul 06 Jul 08 Jul 10 Jul 10 Jul 15 Jul
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  • Page 25 Advertisements
    • 195 25 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced shf p maintenance services wanted. Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 Announce Your Corporate Development Come
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  • SME
    • 1176 26  -  SCCCI also wooing young entrepreneurs by changing public perception that it’s a solely Chinese-speaking organisation. BY FIONA LAM BY FIONA LAM fionalam@sph.com.sg IN today’s business environment, small and medi-um-sized enterprises (SMEs) must bite the bullet and adapt or risk being phased out. That is
      PHOTO: SHAWN TEO  -  1,176 words
    • 1085 26  -  Winning brands thrive because they are aligned with strategic objectives and adapt over time. BY MARTIN ROLL COMMENTARY BY MARTIN ROLL T The writer is a business brand strategist, and the founder of Martin Roll Company T This article first appeared on INSEAD Knowledge WHEN
      1,085 words
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  • EMERGING ENTERPRISE 2015
    • 1190 27  -  It’s time they treat prospective employees like prospective customers, says consultant Danny Lai. BY KELLY TAY kellytay@sph.com.sg @KellyTayBT FOR years, companies have spent their research money on efforts to analyse consumers the products they like, the reasons behind those preferences, and their
      PHOTO: YEN MENG JIIN  -  1,190 words
  • Page 27 Advertisements
    • 113 27 Competitive ■I Resilience Business Vision e Edge Scalability Of Business rong People anaqement St ritegy Unique Value Proposition With up to S$1.km 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
      113 words

  • LIFE & CULTURE
    • 1088 28 Children of founder of Olayan Group help to run the company with interests in oilfield services, steel and fast food among others BLOOMBERG London IN HER Saudi Arabia homeland, Lubna Olayan can’t drive, show her hair in public or leave
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,088 words
    • 615 28 AFP Lagos GILES Peppiatt, from Bonhams in London, had good reason to make the trip to Nigeria’s financial capital, Lagos, for the auction house’s next sale of African art a glut of potential buyers. On a recent visit, he described Africa as
      AFP; PHOTO: AFP  -  615 words
    • 541 28 WP Washington THERE are certain television tropes about computer scientists that just drive programmers nuts. They include the portrayal of coders as sun-starved and soft-bellied nerds who spend long hours alone in front of their computers. And, almost always,
      WP  -  541 words
  • Page 28 Advertisements
    • 31 28 4Want access to BBQ pits? If you're looking for your dream condo complete with facilities, turn to the Print Classified Properties section. To advertise, call the Print Classified Hotline: 1800-289 9988.
      31 words
  • Page 28 Miscellaneous
    • 302 28 CRYPTIC CROSSWORD Across 1 A doctor tucking into mother’s curry (6) 5 Marxist film offers nothing before starting course (4,4) 9 Food on board ship for a horse (10) 10 Time for fruit (4) 11 Pest is hidden by shade (8) 12 Perfect surface texture (6) 13 Fine Greek character
      302 words