The Business Times, 23 May 2015

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Microfilm: NL33486
Total Pages: 40
1 16 The Business Times
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  • TOP STORIES
    • MARKETS
      • Article
        Lock icon STOCKS
        59 2 GSTI 3,450.18 (+10.32) GSTI FUTURES 3,450.00 (+10.00) GSIMSCI 387.85 (+0.48) GSIMSCI FUTURES 388.00 (+1.30) STOCKS Friday Change KL COMP 1,787.50 -7.54 NIKKEI 225 20,264.41 +61.54 HANG SENG 27,992.83 +469.11 SET 1,523.86 -2.39 JAKARTA 5,315.15 +1.94 MANILA 7,810.17 -25.21 KOSPI 2,146.10 +23.29 SHENZHEN B 1,555.34 -12.33 MUMBAI IND 27,957.50 +148.15
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      • Article
        Lock icon PRIME RATES
        31 2 SINGAPORE 5.35 MALAYSIA 6.35 HONG KONG 5.00 INDONESIA T 4.263 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3 25 CANADA 2.85 SWITZERLAND 0.50 INDIA 14.75 Source: Bloomberg
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      • Article
        Lock icon FOR€X
        49 2 US$ S$ US$ (S$ per US$) 1.330 (US$/S$ per 1.568 2.085 EURO (US$/S$/€ 1.117 1.485 Foreign currency per US$ S$ YEN 120.80 90.80 RM 3.585 2.696 HK$ 7.752 5.829 BAHT 33.40 25.11 RUPIAH 13,147 9,886 RENMINBI 6.198 4.661 INDIAN RUPEE 63.52 47.76 A$ 1.265 0.951 NZ$ 1.356 1.020
        49 words
    • Article, Illustration
      Lock icon 2 S’pore startups acquired by overseas firms
      499 2  -  3ree and Gushcloud picked up by Chinese and South Korean companies respectively By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore TWO homegrown startups both in the business of advertising and marketing have been snagged by a Chinese and a South Korean company in what appears
      PHOTO: GUSHCLOUD  -  499 words
    • Article
      Lock icon IE Singapore gives pointers on tapping an integrated Asean market
      705 3  -  Local firms should focus on economies such as Thailand and Indonesia By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT SINGAPORE companies should focus on Asean economies such as Thailand and Indonesia that are most ready to gain from integration, and zoom in
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    • Article, Illustration
      Lock icon Inflation heads towards Fed’s 2% target as April CPI rises
      568 3 LATEST US DATA Bloomberg Reuters Washington THE cost of living excluding food and fuel rose at a faster pace than expected in April, indicating US inflation is inching towards the Federal Reserve’s goal. The core consumer price index climbed 0.3
      Bloomberg; Reuters; PHOTO: AFP  -  568 words
    • Article, Illustration
      Lock icon IMF to Tokyo and its central bank: ‘Take bolder policy actions’
      856 4  -  IMF’s stern report follows Bank of Japan’s decision to stay the course in monetary policy By Anthony Rowley btworld@sph.com.sg Tokyo WITHIN hours of the Policy Board of the Bank of Japan (BOJ) deciding on Friday to maintain monetary easing
      PHOTO: BLOOMBERG  -  856 words
    • Article
      Lock icon S’pore-EU FTA expected to come into force after 2016
      299 4  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore WHILE negotiations for the EU-Singapore Free Trade Agreement (EUSFTA) have come to a close with the text of the Investment Protection Chapter (IPC) finalised, the pact is now expected to come into force after 2016.
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    • Article, Illustration
      Lock icon Bouncing off Tharman’s trampoline
      1042 5  -  SATURDAY SOAPBOX Kelly Tay kellytay@sph.com.sg @KellyTayBT Reporter The writer is a former national trampoline champion who knows all about flying high and falling TWO seconds that’s all it took for Deputy Prime Minister and Finance Minister harman Shanmugaratnam to deliver the sound bite of the month.
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    • Article, Illustration
      Lock icon Calls for more oversight in HK after routs
      1048 6 The volatility illustrates the need for regulators to keep pace with the boom in China’s stock markets Bloomberg Hong Kong AFTER US$35 billion in market value was erased from three Hong Kong-listed companies over two days, investors are asking if the city’s
      Bloomberg; PHOTO: BLOOOMBERG  -  1,048 words
    • Article, Illustration
      Lock icon Sodexo opens regional hub in Singapore
      423 7  -  New office in Fusionopolis will support operations in 15 countries employing some 60,000 By Fiona Lam fionalam@sph.com.sg FOOD catering and facility management giant Sodexo opened its regional headquarters in Singapore on Friday, as part of its Asia-Pacific expansion plans. Located in Fusionopolis, the new
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      Lock icon Page 2 Advertisements Column 1
      52 2 CONTENTS LIVING Living L2-5 Dining L6-8 Beauty/Wellness L9 NEWS Top Stories 2-7 Raffles Conversation 8-9 Companies Markets 10-14 Real Estate 15-16 Banking Finance 17 Energy Commodities 18 Technology 19 Consumer 20 Transport 21 Govt Economy 22-25 Opinion 26-27 Wealth 28-30 Life Culture 31 Design L10-11 Home Garden L12-13 Motoring L14-15
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      272 5 WAREHOUSE S* A I I- 23-24th SALE 70 m vM Sat-Sun 10AM-8PM WALK-IN and ONLINE www.oaks.com.sg 2 DAYS ONLY FREE WINE TASTING Wine, Whisky, Champagne, Sake, Vodka, Accessories. Over 600 items available! Usual 430.00 173.00 560.00 708.00 570.00 Now 308.00 125.00 410.00 550.00 380.00 Penfolds Bin 707 Cab Sauvignon 2012
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      Lock icon Page 7 Advertisements Column 1
      1194 7 (incorporated in the Federal Republic of Germany) Financial Accounts for the year ended 31 December 2014 ASSETS Group Balance Sheet Group Statement of Income Dec 31, 2014 Dec 31, 2013 millions millions Cash 1,941 2,040 Debt instruments issued by public institutions and bills of exchange eligible for refinancing with central
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon THINK DIFFERENT
      2378 8 / 9  -  Yancey Hai left a 21-year career in banking for power systems maker Taiwan’s Delta Electronics, and has not looked back. By Cai Haoxiang By Cai Haoxiang haoxiang@sph.com.sg@HaoxiangCaiBT GIVEN a sterling resume in the first part of his career, Yancey Hai could be heading a big bank or financial
      PHOTO: ARTHUR LEE  -  2,378 words
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon ThaiBev seeks ‘right time’ to address FCL stake
      468 10  -  Drinks maker wants to focus purely on F&B business, says CEO By Kenneth Lim kenlim@sph.com.sg @KennethlimBT Singapore DRINKS maker Thai Beverage Public Co is waiting for the right time to address its substantial but non-core stake in property company Frasers Centrepoint Ltd
      PHOTO: MARK CHEONG / THE STRAITS TIMES  -  468 words
    • Article
      Lock icon AA Reit unveils S$41.7m warehouse redevelopment
      359 10  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore AIMS AMP Capital Industrial Reit (AA Reit) will invest S$41.7 million to redevelop two three-sto-rey detached industrial buildings at 30 and 32 Tuas West Road into a five-storey ramp-up warehouse facility. Indeco Engineers a wholly owned subsidiary of
      359 words
    • Article
      Lock icon Moody’s assigns Baa2 rating to GLP’s proposed note issuance
      506 10  -  By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore RATING agency Moody's has assigned a Baa2 rating with a stable outlook to Global Logistic Properties’ proposed note issuance under its US$2 billion euro medium-term note programme. Moody’s cited the main-board-listed firm’s large-scale operations in
      506 words
    • Article
      Lock icon Mercator loss balloons on exceptional items
      293 11  -  Full-year deficit of US$125.37m, up from preceding year’s US$22.76m By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore DRY bulk shipping company Mercator Lines’ loss for the full year ended March 31, 2015, widened to US$125.37 million, versus US$22.76 million a year ago, as the bottom line
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    • Article
      Lock icon MapletreeLog acquiring 2 assets
      416 11  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore MAPLETREE Logistics Trust (MLT) is acquiring two properties in Vietnam and South Korea for S$42.2 million. Fully leased to a tenant base of mostly international logistics players, the two properties offer a net property income yield of 10 per cent
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    • Article
      Lock icon Mandarin Oriental JV buying Hotel Ritz Madrid
      347 11  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore MANDARIN Oriental International is buying Hotel Ritz, Madrid for 130 million euros (S$192 million) in a 50-50 joint venture (JV) with The Olayan Group, a Saudi Arabian multinational group. A member of the Jardine Matheson group, Mandarin
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    • Corporate digest
      • Article
        Lock icon CFM Holdings
        156 11 METAL-STAMPING firm CFM Holdings, which had said in its half-year results ended Dec 31,2014, that its Singapore subsidiary had on Jan 7 this year obtained Temporary Occupation Permit (TOP) for a factory building, said on Friday that it has come to the management’s attention that “the TOP was
        156 words
      • Article
        Lock icon Singapore Exchange
        56 11 SINGAPORE Exchange and Zhengzhou Commodity Exchange have inked a memorandum of understanding to collaborate on efforts to jointly develop and expand the commodities markets in China and Singapore. They will explore areas of cooperation such as the development of new commodity derivative products, joint commodity-related events, information sharing,
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      • Article
        Lock icon Hiap Seng Engineering
        40 11 HIAP Seng Engineering has won a contract worth about S$43 million for the provision of mechanical works for the Mogas-Cogen Project on Jurong Island. Work has started and the project is slated for completion by September 2016.
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    • Article
      Lock icon STI STOCKS
      308 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 253 +3 255/251 271 219 5.8 6397.8 CapitaLand 365 +1 367/361 379 293 13.4 2.5 *****.6 CapitaMall Trust 220 -1 223/220 228 188.5 4.9 7633.4 CityDev 1040 +10 1043/1029 1095 915 12.5
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    • Article
      Lock icon SGX ETFs Most Active
      111 12 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap DBXT MSRussia US$ US228 +7 239 228/226 302/140 228/229 Nikko AM STI ETF 355 +1 216 355/355 422/324 354/355 8.6 UETF SSE50China 313 +8 178 313/305 318/140 310/312 97.8 STI ETF 349 108 350/349 355/319 349/350
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    • Article
      Lock icon SIBOR
      28 12 May 22 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 1.***** SWAP Offer rates 1 mth 0.***** Source: Thomson Reuters
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      800 12 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning May 18 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) CDW Hldg 20-May-15 Lai Shi Hong Sell 150 0.22 1064 0.22 914 0.19 Fragrance Grp 20-May-15 Koh
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 12 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 4 8 0 0 0 5 4 8 Manufacturing 52 42 35 7 9 14 59 51 49 Commerce 19 18 20 2 6 3 21 24 23 Tpt/Stor/Comms 20 10 11
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 12 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 20,006 20,006 124,765 124,765 Manufacturing 226,850 56,239 283,089 97,337 6,245 103,582 Commerce 143,433 104,366 247,799 55,161 6,637 61,798 Tpt/Stor/Comms 113,896 755 114,651 170,835 58 170,893 Finance 23,119 201 23,320 116,536 38 116,574 Construction 71,314 24,406
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 12 May 22 VALUE CLOSE BT OB/OS 15.00 +46.00 BT CADI -*****.00 +71.00 BT 10-day MA -*****.00 +2.00 FTSE ST Mid Cap 791.50 +1.56 FTSE ST Small Cap 498.95 +1.63 FTSE ST All Share 828.90 +2.36 FTSE ST China Top 216.68 +0.89 FTSE ST China 254.12 +1.43 FTSE
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    • Article
      Lock icon UNUSUAL ACTIVITY
      85 12 UOi.ClOS£{S) CHANGE +7Asian Micro «2jQ CUITC -0.006 +42.86 Unrttinj; 780.0 0,077 *0005 +22.73 PAn AMSfi 3,018,0 0.0P1 -0.014 •14.74 Chin* Tlluti 7.2U.3 CM) 19 *0,007 +18,75 Vuuroo 50.235.0 0.295 +0.070 +31.M APAC Strafiistic R 180.0 0.042 *0011 +35 *13 China Haicla 503.0 0.015 -0.004 ■21.05 uizhou Blo-Chem 7S9.7
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    • Article
      Lock icon COMMODITY FUTURES
      193 13 May-21 Price Net change change Last Trade Agricultural May-21 CBOT Soybeans (US cents/bu) 938.50 -2.75 -0.29% 14/07/2015 CBOT Soybean Oil (US cents/lb) 32.25 0.05 0.16% 14/07/2015 CBOT Wheat (US cents/bu) 522.00 9.00 1.75% 14/07/2014 May-21 LIFFE Cocoa (£/tonne) 2096.00 12.00 0.58% 16/07/2015 LIFFE Coffee (US$/tonne) 1644.00 -43.00 -2.55%
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    • Article
      Lock icon PALM OIL
      57 13 May 22 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 15 2147.0 2132.0 2147.0 2125.0 404 3460 Jul 15 2155.0 2138.0 2157.0 2129.0 7207 ***** Aug 15 2150.0 2135.0 2156.0 2127.0 ***** ***** Sep 15 2153.0 2139.0
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    • Article
      Lock icon GOVERNMENT SECURITIES
      67 13 May 22 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.56 102.58 102.58 5-Year N*****0H 1.625 01-Oct-19 100.05 100.15 100.10 10-Year NY*****H 3.000 01-Sep-24 105.51 105.50 105.25 15-Year NY*****E 2.875 01-Jul-29 102.35 102.05 101.90 20-Year NZ*****V 3.375 01-Sep-33 107.7
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 13 May 22 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0507 1.0517 0.7902 0.7908 Canadian dollar 1.0906 1.0912 0.8205 0.8202 Euro 1.4850 1.4854 1.1168 1.1169 NZ dollar 0.9805 0.9808 0.7374 0.7375 Sterling pound 2.0843 2.0850 1.5675 1.5678
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    • STOCK MARKETS
      • Article, Illustration
        Lock icon Straits Times Index
        20 13 ytd change: +2.53% 52-week high: 3,539.95 on April 15,2015 52-week low: 3,154.21 on Oct 16,2014 Source: Bloomberg
        Source: Bloomberg  -  20 words
      • Article, Illustration
        Lock icon Hang Seng Index
        20 13 YTD change: +18.59% 52-week high: 28,442.75 on April 28,2015 52-week low: 22,585.84 on Dec 17,2014 Source: Bloomberg
        Source: Bloomberg  -  20 words
      • Article, Illustration
        Lock icon Shanghai Stock Exchange Composite
        21 13 YTD change: +43.99% 52-week high: 4,657.60 on May 22,2015 52-week low: 2,021.29 on May 22,2014 Source: Bloomberg
        Source: Bloomberg  -  21 words
      • Article, Illustration
        Lock icon Nikkei 225
        19 13 YTD change: +16.12% 52-week high: 20,264.41 on May 22,2015 52-week low: 14,337.79 on May 22,2014 Source: Bloomberg
        Source: Bloomberg  -  19 words
      • Article, Illustration
        Lock icon Dow Jones Industrial Average
        26 13 YTD change: +2.60% 52-week high: 18,312.39 on May 19,2015 52-week low: 16,117.24 on Oct 16,2014 (Chart shows Thursday’s index closing) Source: Bloomberg
        Source: Bloomberg  -  26 words
    • Article
      Lock icon BONDS, WARRANTS, PREFERENCE SHARES
      206 13 Most active May 22 Prem Expiry Last Vol Conv Exer Disc Gear-Mths Company Sale +or-('000) Ratio Price ing Left SingTel MB eCW*****3 6.6 0.2 4950 0.2 460 13 Ezion MB eCW*****2 3.9 unch 3930 0.4 135 6 WE Holdings Ltd W*****5 0.3 0.1 3712 1 0
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT’L INDICES
      373 13 In local curr In S$ In US$ dy yr dy yr dy yr May 21 Index Change Change Change Change Change Change World Preliminary 1368.5 0.3 7.3 0.4 6.9 0.4 5.9 EAFE Preliminary 1114.2 0.3 12.9 0.5 10.8 0.5 9.8 Europe Preliminary 1559.3 0.2 12.8
      373 words
    • Article, Illustration
      Lock icon Ezion, GLP & YuuZoo steal the limelight
      534 14  - Ezion, GLP YuuZoo steal the limelight STOCKS R Sivanithy sivan@sph.com.sg @RSivanithyBT Senior Correspondent EZION on Monday to Wednesday, Global Logistics Properties (GLP) on Thursday and YuuZoo on Friday although it would be a slight exaggeration to say that the entire week’s trading could be summed up by the plays on
      534 words
    • Article
      Lock icon GAINERS
      79 14 BY CENTS CLOSE UP 52w high/low JMH USD 6100 126.3 1.6 6788/5700 DBXT MSKorea US$ 6030 122.3 1.5 6735/5484 DBXT Vietnam US$ 2446 101.1 3.2 3100/2250 DBXT China50 US$ 4040 78.5 1.5 4258/2800 DBXT MSAsExJp US$ 3941 55.9 1.1 4064/3261 BY PERCENTAGE CLOSE UP 52w high/low Innopac W*****0 0.2
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    • Article
      Lock icon LOSERS
      76 14 BY CENTS CLOSE DOWN 52w high/low Jardie C&C 4053 -22.0 -0.5 4770/3850 DBXT MSEAsia US$ 455 -17.3 -2.8 468/395 DBXT MSMSIA US$ 1352 -17.3 -1.0 1598/1291 DBS Bk 4.7% NCPS ***** -15.0 -0.1 *****/***** DBXT MSTaiwan US$ 2346 -10.6 -0.3 2392/2081 BY PERCENTAGE CLOSE DOWN 52w high/low Infinio 0.2
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    • Article
      Lock icon MOST ACTIVE
      35 14 VOLUME Yuuzoo 90,235,800 Vallianz 75,281,700 LionGold 70,918,600 Digiland Intl 62,402,300 IHC 44,633,700 Market volume 1,731,509,000 VALUE Keppel Corp 101,716,932 Singtel 69,062,554 Suntec Reit 53,080,913 HongkongLand USD 48,279,496 Global Logistic 43,058,968 Market value 1,103,057,000
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    • Article
      Lock icon Yoma’s Q4 profit up 28% at S$8.16m
      351 14  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore BOOSTED by higher fair-value and bargain-purchase gains on investment properties and acquisitions, Yoma Strategic on Friday posted a 28 per cent year-on-year rise in net profit to S$8.16 million for the fourth quarter ended March 31, 2015.
      351 words
    • Article
      Lock icon China margin trading balance hits 2t yuan
      254 14 AFP Shanghai CHINESE investors’ borrowing to trade on the country’s stock markets has surpassed two trillion yuan (S$431 billion)for the first time, figures showed on Friday, highlighting the risks in the rally. Data from China’s two exchanges in Shanghai and Shenzhen showed the
      AFP  -  254 words
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      449 11 IN THE MATTER OF THE COMPANIES ACT, CAP 50 KYTOLAND TECH PTE. LTD. (In Members’ Voluntary Liquidation) Company Reg. No. *****5115Z At an Extraordinary General Meeting of the members of KYTOLAND TECH PTE. LTD. duly convened and held at 15 Merryn Road, Dunearn Estate, Singapore *****4 on 14 May 2015
      449 words
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  • REAL ESTATE
    • Article
      Lock icon Bishopsgate GCB sets record per square foot price
      612 15 Its S$2,190 psf on land area tops the S$2,110 psf in Leedon Park in 2012. Separately, Ridout site is said to have been sold for over S$90m Singapore AT least a couple of eye-popping deals have taken place in the Good Class
      612 words
    • Article, Illustration
      Lock icon Accor to open first ibis Styles hotel in S’pore
      294 15  -  The 298-room hotel will come with retail shops, a pool, a gym and restaurant By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore ACCOR will soon open its first ibis Styles hotel at the corner of MacPherson and Aljunied Roads, where the former Hotel
      294 words
    • Article
      Lock icon Foreign buyers driving housing boom in Toronto
      317 15 Bloomberg Toronto CANADA’S reputation as a safe country to live and bank is luring buyers from abroad and driving the housing boom in Toronto. The city of 2.8 million attracts about a quarter of the 250,000 immigrants who arrive in the nation each
      Bloomberg  -  317 words
    • Article
      Lock icon Househunt
      1126 16 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN APRIL 8 AND APRIL 14, 2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 7 NON-LANDED City Gate Apt 14/04/2015 99 570 1120 1963 City Gate Apt 08/04/2015 99 700
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  • BANKING & FINANCE
    • Article
      Lock icon New UK banks grow faster than ‘Big Five’ rivals
      157 17 Reuters London BRITAIN’S new banks are achieving superior returns than larger rivals, picking up customers shunned by bigger lenders since the 2007-9 financial crisis, consultancy KPMG said on Friday. Britain has seen the emergence of several new banks since the financial
      Reuters  -  157 words
    • Article, Illustration
      Lock icon UBS tried to tap leniency programme but Justice Dept refused
      1063 17 Bank’s defence team led by the man who revived the US gov’t programme Bloomberg Washington UBS Group, in its bid to escape US criminal charges of manipulating currency markets, turned to “the godfather of leniency”. As a Justice Department prosecutor
      Bloomberg; PHOTO: BLOOMBERG  -  1,063 words
  • Page 17 Advertisements
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      Lock icon Page 17 Advertisements Column 1
      59 17 HOT PROPERTY DEVONSHIRE RD, 2-STY terr 1725 sf, F'hold, Near Somerset MRT, Auction 27/5 D.15 BRAND NEW Semi-D at terr price! 1km Reputable Sch! 2200/4100sf, 6 rms, bright D.18 SPACIOUS RIVERINA. Inter Terr Reno. 3sty. 5rm Breezy. Elias Mall/ MRT/ Beach. Hot deal. LANDED PROPERTIES FOR SALE Check out these
      59 words
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Opec likely to maintain output
      527 18 Its strategy of going for market share rather than prices is working, say analysts Bloomberg London THE Organisation of Petroleum Exporting Countries (Opec) will stick with the strategy of favouring market share over prices when it meets next month because rival producers are already starting
      Bloomberg; PHOTO: REUTERS  -  527 words
    • Article
      Lock icon Untapped US shale reserves face being erased from drillers’ books
      744 18 Bloomberg New York MILLIONS of barrels of untapped oil that US shale drillers discovered during the boom years are about to disappear from their inventories. Six years ago, the industry pushed the Securities and Exchange Commission (SEC) to make it
      Bloomberg  -  744 words
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      Lock icon Page 18 Advertisements Column 1
      276 18 and Interest rates rises have historically caused volatility in capital, investment and asset markets. How will equities, bonds, commodities and currencies react to this upcoming interest rate rise? Will HK H shares and China A shares continue to soar? How will higher interest rates affect the AH premium equilibrium? by
      276 words
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  • TECHNOLOGY
    • Article
      Lock icon NSA had plans to hack Google app store: report
      482 19 The scheme would allow data connections to app stores to be hijacked, and data to be harvested from smartphones AFP Washington THE US National Security Agency (NSA) developed plans to hack into data links to app stores operated by Google and
      AFP  -  482 words
    • Article, Illustration
      Lock icon Hewlett-Packard’s profit beats estimates on server demand
      847 19 Bloomberg San Francisco HEWLETT-PACKARD Co reported fiscal second-quarter profit that exceeded analysts’ estimates as corporate technology spending picked up ahead of the computer maker’s planned separation into two companies. Profit before certain items was 87 US cents a share in the period that
      Bloomberg; PHOTO: BLOOMBERG  -  847 words
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  • CONSUMER
    • Article, Illustration
      Lock icon Walmart reduces goods sourcing From Li & Fung
      577 20 Walmart reduces goods sourcing From Li Fung Move raises concerns that the buying agent may see other customers follow suit Bloomberg Hong Kong WALMART Stores Inc, the world’s biggest retailer, pulled some goods sourcing business from Li Fung Ltd, raising concerns that the Hong Kong company may see other customers
      Bloomberg; PHOTO: BLOOMBERG  -  577 words
    • Article, Illustration
      Lock icon Strong US$ brings cheer to Americans on holiday in Europe
      666 20 Bloomberg New York OF the many wonders to behold in Greece, Matt Derr has found a gem: local wine at US$3 a glass. During a nine-day getaway to the land of the gods, he’s sampled Greek salads and grilled meats
      Bloomberg; PHOTO: REUTERS  -  666 words
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  • TRANSPORT
    • Article, Illustration
      Lock icon German carmakers eye Nokia’s map unit
      722 21 Mercedes, Audi and BMW team up with private equity firm General Atlantic to bid for Here Reuters Frankfurt GERMANY’S premium carmakers Mercedes, Audi and BMW have teamed up with private equity firm General Atlantic to increase their firepower to acquire Nokia’s mapping unit Here,
      Reuters; PHOTO: BLOOMBERG  -  722 words
    • Article
      Lock icon US will not meet ambitious goals for electric car use
      503 21 Bloomberg New York PRESIDENT Barack Obama’s long-stand-ing goal to have a fully fuel-efficient government fleet and one million plug-in vehicles on the road will not be met. With little fanfare, the president in March scaled back the ambitious goals laid
      Bloomberg  -  503 words
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon ECB has done its part and now govts should do theirs: Draghi
      565 22 Start of recovery seen in eurozone is an opportune time to embark on structural reforms, he says AFP Sintra, Portugal THE economic skies above Europe are clearing after the long years of crisis and it is imperative that
      AFP; PHOTO: BLOOMBERG  -  565 words
    • Article
      Lock icon ‘Grexit’ poses medium-term risks to euro: Italy
      453 22 Greek euro exit will demonstrate union is not permanent, says Italy finance minister AFP Rome GREECE crashing out of the euro, or “Grexit”, does not pose a short-term risk to the shared European currency but a mediumterm one as it demonstrates that the
      AFP  -  453 words
    • Article
      Lock icon German business sentiment declines in May
      335 22 Bloomberg Frankfurt GERMAN business confidence fell for the first time in seven months in May, signalling some concern over the growth outlook for Europe’s largest economy. The Ifo institute’s business climate index dropped to 108.5 from 108.6 in April. The median estimate was for
      Bloomberg  -  335 words
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      Lock icon China opens doors to 600b yuan of fund sales via HK
      636 23 From July 1 foreign asset managers can tap China household savings Bloomberg Hong Kong CHINA and Hong Kong will start cross-border sales of funds on July 1, widening access to financial markets and capital in the world’s second-largest economy.
      Bloomberg  -  636 words
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      Lock icon Jakarta proposes to end tax-free debt
      740 24 Plan will affect companies whose debt exceeds four times equity Bloomberg Singapore COMPANIES the world over have used interest payments to shrink their tax bills. Indonesia, faced with record private debt, is trying something different. South-east Asia’s largest economy plans to ban firms from
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      Lock icon India minister vows to improve company tax regime
      634 24 Reuters New Delhi INDIAN Finance Minister Arun Jaitley struck a conciliatory tone towards investors on Friday, promising to tax corporate profits at competitive rates and saying the government would do all in its power to implement a new national sales tax on
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      Lock icon China, India likely to be biggest shareholders in AIIB
      501 25 The bank says it expects to be operational by year end, but some delegates are sceptical Reuters Singapore CHINA is likely to hold a 25-30 per cent stake in the new Asian Infrastructure Investment Bank (AIIB), while India will be the
      Reuters  -  501 words
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      Lock icon Taper tantrum haunts Yellen as rate rise approaches
      853 25 Fed officials fret that bond yields near record lows will surge once rates are raised Bloomberg Washington JANET Yellen is haunted by the taper tantrum as the Federal Reserve lays the groundwork for its first interest rate increase in almost a decade.
      Bloomberg; PHOTO: AFP  -  853 words
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      1105 23 SINOPIPE HOLDINGS LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number: *****1382N) NOTICE OF ELEVENTH ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Eleventh Annual General Meeting of the Company will be held at 16 Ayer Rajah Crescent #03-06 Singapore *****5, on Tuesday, 9 June 2015 at 10.30
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  • OPINION
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      Lock icon The art of widening tastes
      1933 26 / 27  -  Global art auctioneers have been working to attract Chinese bidders to segments of the art market other than that for Chinese art. By Patrick Lecomte By Patrick Lecomte ~The writer is Senior Research Fellow at ESSEC Asia-Pacific SUPPOSE you have a growi n g p
      PHOTO: REUTERS  -  1,933 words
  • Page 26 / 27 Miscellaneous
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  • Wealth
    • WEALTH INVESTING
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        Lock icon Keeping a family business going
        1427 28 / 29  -  The most successful families think long term, are focused on internal quality controls and are financially prudent. By Paul Sullivan By Paul Sullivan NYT PETER Gordon, a member of the family that owns Glenfiddich whisky, has a distinct memory of workers lining up as he
        NYT; PHOTO: NYT  -  1,427 words
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        Lock icon BROKERS' TAKE
        552 28 / 29  -  Compiled by Jamie Lee iFast Corporation Buy DBS Group Research May 22 May 22 close: S$1.47 Target price: S$1.60 iFAST has launched the distribution of bonds and Exchange-Traded Funds (ETFs), to add to unit trusts (funds) and Singapore Government Securities (SGS), which have so far been its main
        552 words
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        Lock icon Forex rigging turns major banks into felons
        1269 30 For the banks, it’s likely to carry more symbolic shame than practical problems NYT New York FOR the world’s biggest banks, what seemed like the perfect business turned out to be the perfect breeding ground for crime. The trading of foreign currencies promised
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  • LIFE & CULTURE
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      Lock icon Streetside dentists still popular in India
      706 31 These unlicensed operators are providing an essential service to the poor who can’t afford to go to a clinic AFP Bangalore IGNORING noisy buses and curious onlookers, street dentist Allah Baksh plunges his hands into a patient’s mouth to fit a sparkling set of
      AFP; PHOTO: AFP  -  706 words
    • Article
      Lock icon Festive drinking raises English alcohol consumption by 24%
      370 31 Bloomberg Geneva EVER fudged the truth to your doctor about your drinking habits? Turns out the English are doing it to the tune of 12 million bottles of wine each week. Drinkers in England admit to guzzling 120 million extra units of
      Bloomberg  -  370 words
  • Page 31 Miscellaneous
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      325 31 CRYPTIC CROSSWORD Across 1 Say something tactless and lose a real friend (4,1,5) 6 Lie alongside a capsized unwieldy vessel (4) 10 Gusset in cardigan and jumper Terry Wogan originally let out (5) 11 Delinquent pedals around an English seafront (9) 12 Stout turned cheese into silky stuff (7) 13
      325 words
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      45 32 THERE ARE EXCEPTIONS TO EVERY RULE. ROYAL OAK OFFSHORE DIAMOND SET IN STEEL. SINGAPORE AUDEMARS PIGUET BOUTIQUE FORUM THE SHOPPING MALL 583 ORCHARD ROAD, #01-05/06 TEL (65) 6836 4918 THE SHOPPES AT MARINA BAY SANDS CANAL LEVEL B2-207 TEL (65) 6688 7595 AL ROY AUDEMARSPIGUET.COM
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      78 1 LivingBTTHE BUSINESS TIMES WEEKEND MAY 23 24 2015 THE SERIAL ENTREPRENEUR Fresh from starting their own businesses, the young and the restless move on to plunge into new ventures L2-5 PHOTO: COURTESY OF NELSON YAP DINING So who’s coming to dinner? L6-8 BEAUTY Super serums L9 MOTORING The new Audi:
      78 words
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  • BT Living
    • LIVING
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        Lock icon The serial entrepreneur
        311 2 / 3  -  After starting a business from scratch, these gung-ho entrepreneurs, young and restless, are quick to move on and plunge into new ventures. By May Yip By May Yip MARK Zuckerberg notwithstanding, most techno preneurs have realised that success can lie way outside the mainframe. Having shaped modern
        Ground.PHOTO OF CHRIS TAN BY YEN MENG JIIN  -  311 words
      • Article
        Lock icon Pinstripes to pizzas
        759 2 / 3 WITH eight menswear retail outlets under their braided calfskin belts, Nelson Yap and his business partner Damien Tan have nailed what men want when it comes to fashion. Starting their Benjamin Barker brand of trend-setting and affordable formal wear in 2009, the former college roommates weren’t content
        759 words
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        Lock icon Spa by design
        487 2 / 3 THE dramatic chandelier of glass globes cascading down from the ceiling of The Luxe House should be a giveaway to its owner’s credentials. Chris Tan, founder of the pampering spa in Dempsey, owned a design company that dressed luxury show flats, homes and commercial projects, before venturing
        487 words
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        Lock icon A common thread
        539 4 / 5 WHAT does running an omakase and kaiseki restaurant have in common with helming a luxury fashion menswear label? The personal touch, as designer Chong Han San has proven. Following the successful launch of his rakish line of bespoke and ready-to-wear looks in 2011, the former designer of
        539 words
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        Lock icon “The business chooses you”
        590 4 / 5 THE biggest cliché about creative people is that they are all about form and not funds. Luckily for Suraj Melwani, he boasts an associate’s degree in fashion design from Parsons The New School for Design in New York, and a Bachelor of Science degree in business
        590 words
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        Lock icon From apps to eats
        539 4 / 5 IT takes a certain amount of gumption to be an entrepreneur, much more if you’re delving into an industry that is completely unfamiliar. And John Ng of MezMedia and Buta Ramen sure is one gutsy man. After successfully running his multimedia company MezMedia for a decade,
        539 words
    • DINING
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        Lock icon So who’s coming for dinner?
        2697 6 / 7  -  With p p-up dinners, you’ll never kn w, ju t like you’ll have no idea what will be served or even where your dinner will be, till the last minute. That’s what makes such one-off events so special. By Rachel Loi @RachelLoiBT rachloi@sph.com.sg WHETHER you
        2,697 words
    • BEAUTY / WELLNESS
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        Lock icon Serum power
        769 9  -  With more advanced technology, serums are now a must-have in the arsenal of skincare products. By Cheah Ui-Hoon uihoon@sph.com.sg THE classic skincare regime essentially comprises a simple wash, toner, moisturiser and sunblock. With more advanced technology now, pre-moisturising with super serums has become an essential extra step. Virtually
        769 words
    • DESIGN
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        Lock icon RETURN OF THE NATIVE
        1653 10 / 11  -  Ikea, champion of the cheap and cheerful, takes a serious step towards something more authentic, better crafted, and more natural. By Arthur Sim By Arthur Sim THERE were over 820 million visits to Ikea stores around the world in 2014 and more than 1.6 billion hits
        PHOTOS: IKEA  -  1,653 words
    • HOME & GARDEN
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        Lock icon Keep It Simple, Sweet
        1127 12 / 13  -  Kiss 92FM DJ Maddy Barber learns that natural is the way to go when decorating her marital home. By Arthur Sim personal space By Arthur Sim WHEN East meets West, keeping it simple is probably best, especially when it comes to nesting. For Kiss 92FM DJ
        PHOTOS: YEN MENG JIIN  -  1,127 words
    • MOTORING
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        Lock icon The XE factor
        648 14  -  The Jaguar XE is a brand new model with an impressive blend of handling and comfort. By Samuel Ee By Samuel Ee samuelee@sph.com.sg I T was a four-year project that started out with a clean sheet of paper and ended with a brand new compact sedan that
        648 words
      • Article, Illustration
        Lock icon 7 HEAVEN
        714 15  -  The new Audi Q7 is a luxuriously dynamic SUV with class-leading features and equipment. By Samuel Ee samuelee@sph.com.sg SHORTER and lighter, but roomier and better. Very much better, in fact, so much so that the new Audi Q7 virtually leads its segment in terms of weight, driveability and
        714 words
    • SPORTS
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        Lock icon An EPL season to savour
        917 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Correspondent THE curtain comes down on yet another captivating season of the English Premier League (EPL) on Sunday night when all 20 clubs play their 38th match of a quite enthralling campaign. There won’t be as much drama
        PHOTOS: REUTERS  -  917 words
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      803 4 / 5 wine&dine with BTWeekend Atrium Lounge Marina Mandarin Singapore 6 Raffles Boulevard, Level 4Z6845-1111 Wine Fair Rejoice this month of May where you can savour free flow of wine with Atrium Lounge’s Wine Fair promotion. For only $69++ per person, gather your wine drinking friends, colleagues and aficionados; and relish 8
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