The Business Times, 27 May 2015

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Total Pages: 28
1 28 The Business Times
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  • Title Section
    Masthead
    33 1 THE BUSINESS TIMES 2015 SOCIETY OF NEWS DESIGN EXCELLENCE AWARD■BEST IN OVERALL REDESIGN■ S$1.00 q:h A SINGAPORE PRESS HOLDINGS PUBLICATION wvvw.businesstimes.com.sg [3 D@BTBreakingnews CO REGN NO ’l*****868E MCI (P) 051/08/2014 Wednesday, May 27,2015
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  • Article, Illustration
    DAILY DIGEST
    268 1 China minted a new billionaire almost every week in the first quarter of this year. The rich there, and in Asia as a whole, come younger than their global peers. TOP STORIES 2 The Singapore bond market continues to roar, with new issuances up 20 per cent in
    268 words
  • Article, Illustration
    Singapore settles for slower growth for rest of decade
    794 1  -  Outlook shaded by labour constraints, productivity challenges and uncertain global economy By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore FOR the rest of the decade, the Singapore economy will grow at a slow-er-than-expected pace of 2-4 per cent per year a downgrade from
    794 words
  • Article, Illustration
    3-month Sibor down 20% from April high
    468 1  -  3-month SOR has fallen even more, down 32% from March peak By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore THE key 3-month Sibor or Singapore interbank offered rate has fallen almost 20 per cent from the year’s high of 1.027 per cent on April
    Source: Bloomberg  -  468 words
  • Article
    MARKETS
    28 1 MARKETS Tuesday Change STI 3,459.98 -0.87 KL COMP 1,764.07 -3.31 NIKKEI 225 20,437.48 +23.71 HANG SENG 28,249.86 +257.03 SHENZHEN B 1,572.11 +1.65 DOW (11:45am EDT) 18,058.25 -173.77
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      26 1 8"*****1 *****4 RETAIL DEAL Mitsui Co acquires stake in S’pore retailer Triple TOP STORIES 2 EL NINO SET TO LIFT PALM OIL PRICES COMPANIES MARKETS 10
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      Page 1 Advertisements Column 2
      21 1 THE 1985 SCANDAL Pan-El capped watershed year for S’pore OPINION 22 BUYING FRENZY China stocks keep outdoing forecasts EXECUTIVE MONEY 26
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      Page 1 Advertisements Column 3
      171 1 HOTEL ACQUISITION Far East, Sino Land buy Westin Sydney from GIC REAL ESTATE 12 Singapore economy: More reports, Page 4 BT infographic: Noodles and rice and all things priced, Page 4 LUXURY COLLECTION 2015 S C U L P T U R A ARDMORE 8 ARDMORE PARK A visionary work
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  • TOP STORIES
    • Article
      China’s minting a new billionaire almost every week
      415 2  -  Consumer sector fuelling Asia’s ultra-rich; US pool still comes from finance, tech industries: UBS-PwC report By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore CHINA minted a new billionaire almost every week in the first quarter of this year. The rich there, and in Asia
      415 words
    • Article, Illustration
      SGD bonds going strong
      821 2  -  investors have plenty of cash to deploy; not worried about pending interest rate hikes By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore THE Singapore bond market continues to roar, with new issuances up 20 per cent in the first three weeks of May against the same period
      Source: Bloomberg  -  821 words
    • Article, Illustration
      Mitsui & Co buys stake in Singapore retailer Triple
      619 2  - Mitsui Co buys stake in Singapore retailer Triple Major Japanese general trading firm sees the local apparel distributor fitting in with its focus on brand marketing in downstream sector in South-east Asia By Debbie Yong debyong@sph.com.sg @DebbieYongBT Singapore TOKYO-LISTED Mitsui Co, one of Japan’s largest general trading companies, has invested
      619 words
    • Article
      STB in S$20m marketing blitz to pull in visitors
      640 3  -  Golden Jubilee campaign coincides with GSS and is targeted at seven countries By Elizabeth Mak eamak@sph.com.sg Singapore THE Singapore Tourism Board (STB) is putting S$20 million into a global marketing campaign timed to coincide with the Great Singapore Sale and targeted
      640 words
    • Article
      PICTET
      263 3 Pictet-Absl Rtn Fxd Inc-HP EUR 21/05/2015 EUR 103,95 Pictet-Absl Rtn Glo Div-P EUR 21/05/2015 EUR 122,27 Pictet-Asian Equities Ex Japan-P USD 22/05/2015 USD 219,74 Pictet-Asian Local Currency Debt-P USD 22/05/2015 USD 146,68 Pictet-Biotech-P USD 21/05/2015 USD 818,02 Pictet-Clean Energy-P USD 21/05/2015 USD 91,80 Pictet-Digital Communication-P USD 21/05/2015 USD 235,82
      263 words
    • Article, Illustration
      Bank Negara confirms receipt of MAS report on IMDB-related account
      707 3  -  Report will be extended to other enforcement agencies under Malaysia’s jurisdiction, says central bank governor By Pauline Ng btworld@sph.com.sg Kuala Lumpur MALAYSIA’S central bank said on Tuesday that it is looking into a report by the Monetary Authority of Singapore
      707 words
    • Article, Illustration
      Sharpest manufacturing plunge in over two years points to weak Q2 GDP
      665 4  -  Some economists even expect Q2’s numbers to be weaker than Q1’s SINGAPORE ECONOMY By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT IT WOULD be easy to blame April’s 8.7 per cent plunge in industrial output the steepest year-on-year decline in
      Source: Economic Development Board  -  665 words
    • Article, Illustration
      Q1 growth of 2.6% surprises on upside
      784 4  -  Services sector boosts overall performance, even as manufacturing contracts By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore DESPITE a contraction in the manufacturing sector, the Singapore economy grew a bet-ter-than-expected 2.6 per cent year-on-year in the first quarter of 2015 breezing past even the most
      784 words
    • Article, Illustration
      Noodles and rice and all things priced
      68 4 Raw material prices and competition may affect the price of hawker food more than rents, according to a study by the Singapore government BT Explains Food was the largest contributor to consumer inflation Raw material prices, not rents, have a bigger impact on
      Source: Ministry of Trade and Industry BT Graphics: Kenneth Lim & Jennifer Chua  -  68 words
    • Article, Illustration
      Total merchandise trade dips amid crude oil glut
      637 4  -  By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore SINGAPORE’S total merchandise trade took a steeper dive in the first three months of the year, as the crude oil glut continued to grow. Figures from International Enterprise (IE) Singapore indicated that total merchandise trade
      Source: IE Singapore  -  637 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      374 2 cutting through complexity KPMG Trade and Customs breakfast briefing r limn 7/ ar I 1 Many businesses in Singapore are increasingly exploring their export potential by taking advantage of the Free Trade Agreements (FTAs) in Asia such as ASEAN-China FTA, ASEANKorea FTA, ASEAN-India FTA and ASEAN FTA. One key benefit
      374 words
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      Page 2 Advertisements Column 2
      28 2 Blow your own trumpet Buy new musical instruments or put up your old ones for sale in CLASS 72 To advertise, call the Print Classified Hotline: 1800-289 9988
      28 words
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      89 3 GP GIRARD-PERREGACIX MECHANICS OF TIME SINCE 1791 v* ‘3 'mmfk Ss ss y A a-A Sr‘ if 1945 GIRARD-PERREGAUX *****-0062 CALIBER, SELF-WINDING MECHANICAL MOVEMENT HOUR, MINUTE, SMALL SECOND, LARGE DATE, MOON-PHASES INDICATOR 46-HOUR POWER RESERVE 36.10 X 35.25MM PINK GOLD CASE WITH SAPPHIRE CRYSTAL CASE-BACK ALLIGATOR STRAP WITH FOLDING BUCKLE
      89 words
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  • COMPANIES & MARKETS
    • Article
      Boustead’s Q4 net drops 30% as orders shrink, expenses rise
      499 6  -  Real estate arm Boustead Projects also suffers earnings slide as margins come under under pressure By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore ENGINEERING services group Boustead Singapore reported a 30 per cent year-on-year slide in net profit to S$ 17.86 million
      499 words
    • Article
      Valuetronics’ FY2015 profit inches up
      324 6  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore VALUETRONICS Holdings on Tuesday posted a 0.9 per cent increase in net profit to HK$149.2 million (S$25.7 million) for its full year ended March 31 (FY2015). Revenue of the electronics manufacturing services provider dipped 0.2 per cent to HK$2.4
      324 words
    • Article
      Phoon Huat seeking a buyer: sources
      170 6 BLOOMBERG Singapore PHOON Huat Co, the Singapore company that’s been selling baking ingredients such as pie fillings and confectioners’ sugar since 1947, is seeking a buyer, people with knowledge of the matter said. The company has sent out preliminary information to potential bidders and
      BLOOMBERG  -  170 words
    • Article
      MMI sounds out investors for up to US$300m IPO: report
      197 6 REUTERS Singapore SINGAPORE’S MMI Technologies, an electronics parts company owned by private equity firm KKR Co LP, has started meeting with investors for an initial public offering (IPO) worth between US$200 million and US$300 million, IFR reported. Book building will
      REUTERS  -  197 words
    • Article
      Healthcare firm S’pore O&G launches IPO for Catalist listing
      285 6  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore HEALTHCARE firm Singapore O&G (SOG) has launched its initial public offering (IPO) for a listing on the Catalist board of Singapore Exchange at 2 5 Singapore cents per share. This values the group at S$54.5
      285 words
    • Article
      Asian family businesses need to do more in formal governance
      723 7  -  Survey shows that while the majority see the need for a decision-making body, the picture is different in practice By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore DESPITE exhibiting a strong desire for formal governance, there are gaps in the implementation by
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    • CORPORATE DIGEST
      • Article
        Oxley Holdings
        111 7 OXLEY Holdings has won two awards this month. Its Royal Wharf development in London is the winner of the Development of the Year category, RESI Awards 2015, after being evaluated on criteria such as innovative or novel design features, sustainable benchmarks and environmental credentials. Oxley is also one
        111 words
      • Article
        AV Jennings
        105 7 AVJENNINGS has signed agreements to acquire the waterline Place project in Williamstown, Victoria, it said without revealing the acquisition cost. Waterline Place has up to 850 dwellings with a mix of apartments and townhouses, as well as retail spaces, in the historic inner Melbourne suburb. Waterline Place is
        105 words
      • Article
        EuroSports Global
        162 7 EUROSPORTS Global has posted a net loss of S$4.02 million for the fiscal year ended March 31, 2015, compared to a net profit of S$17.02 million a year ago, dragged by poorer gross margin, a lower sales of new automobiles, a fall in the group’s watch distribution and
        162 words
      • Article
        CSC Holdings
        103 7 ENGINEERING solutions provider CSC Holdings chalked up a net loss of S$9.03 million for the fourth quarter ended March 31, 2015, against a net profit of S$533,000 a year ago, due in part to impairment losses on plant and equipment. This is against a 3.4 per cent rise
        103 words
    • Article
      Cortina Holdings’ Q4 profit up 28.5%
      311 7  -  By Debbie Yong debyong@sph.com.sg @DebbieYongBT Singapore LUXURY watch retailer Cortina Holdings on Tuesday posted a 28.52 per cent surge in its fiscal fourth-quarter net profit to S$6.7 million. The better profit attributable to shareholders for the three months ended March 31 came on the
      311 words
    • Article, Illustration
      STI ends flat, all juiced out for the day
      664 8  -  Monday break for Wall Street means absence of leads for local market, with the index stemming three straight sessions of gains STOCKS By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT THE local bourse ran on very little juice on Tuesday, closing flat as trading
      Source: Bloomberg  -  664 words
    • Article
      STI STOCKS
      307 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 253 unch 254/251 271 219 5.8 6397.8 CapitaLand 363 -3 367/362 379 293 13.3 2.5 *****.2 CapitaMall Trust 222 -1 224/219 228 188.5 4.9 7702.7 CityDev 1048 unch 1053/1045 1095 915 12.6
      307 words
    • Article
      MOST ACTIVE
      36 8 VOLUME Blumont 79,198,400 Yuuzoo 70,612,100 Healthway Med 70,140,400 APAC Strategic 61,764,000 Federal Int 61,748,500 Market volume 1,800,563,000 VALUE Singtel 51,687,935 HongkongLand USD 40,935,124 DBS Grp 35,592,300 Global Logistic 31,139,969 UOB 25,997,262 Market value 829,916,000
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    • Article
      SGX ETFs Most Active
      110 8 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap UETF SSE50China 322 +3 267 322/317 322/140 319/323 100.6 STI ETF 350 +1 143 351/349 355/319 349/350 IS MS India US$ US744 -8 114 753/741 1000/696 741/744 93 ABF SG Bond ETF 114 -1.3 61 116/114
      110 words
    • Article
      OTHER SINGAPORE INDICES
      75 8 May 26 VALUE CLOSE BT OB/OS +75.00 BT CADI -*****.00 -46.00 BT 10-day MA -*****.00 FTSE ST Mid Cap 788.21 -2.31 FTSE ST Small Cap 499.90 +1.30 FTSE ST All Share 830.29 -0.42 FTSE ST China Top 217.67 +0.34 FTSE ST China 258.41 +1.68 FTSE ST Catalist
      75 words
    • Article, Illustration
      STI / FTSE ST All-Share
      35 8 STI FTSE ST All-Share ftse ST All-Share index May 26,2015 830.29 -0.42 (-0.05%) Current streak 1 day Day high 831.64 Day low 829.93 52-week high 847.98 (Apr 15, 2015) 52-week low 762.71 (Oct 16, 2014)
      35 words
    • Article, Illustration
      STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE index May 25,2015 1,936.32 +1.07 (+0.06%) Current streak 1 day Day high 1,938.63 Day low 1,930.43 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
      33 words
    • Article
      SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 7 2 0 0 0 7 7 2 Manufacturing 49 49 40 6 14 7 55 63 47 Commerce 19 20 20 5 4 6 24 24 26 Tpt/Stor/Comms 11 20 8
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    • Article
      SECURITIES TRADING TURNOVER
      121 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 12,971 12,971 42,996 42,996 Manufacturing 255,966 83,021 338,987 95,218 6,309 101,527 Commerce 149,078 36,830 185,908 53,866 1,717 55,583 Tpt/Stor/Comms 101,786 1,053 102,839 136,126 75 136,201 Finance 41,841 367 42,208 100,837 67 100,904 Construction 66,648 14,777
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    • Article
      GAINERS
      76 8 BY CENTS CLOSE UP 52w high/low DBXT ASX200 US$ 3852 101.1 2.0 4403/3530 DBXT iBoxxSing SG$ ***** 69.0 0.5 *****/***** Lyxor ChinaH US$ 2042 48.5 1.8 2055/1280 DBXT Vietnam US$ 2457 40.5 1.2 3100/2250 DBXT China50 US$ 4151 24.3 0.4 4258/2800 BY PERCENTAGE CLOSE UP 52w high/low CN*****MBeCW*****0 9.2
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    • Article
      LOSERS
      76 8 BY CENTS CLOSE DOWN 52w high/low DBXT E50 US$ 5115 -165.8 -2.3 5630/4562 GLD US$ ***** -124.0 -0.8 *****/***** JMH USD 6101 -68.8 -0.8 6788/5700 Lyxor Europe US$ 1537 -60.7 -2.8 1678/1338 SPDR S&P500 US$ ***** -56.6 -0.2 *****/***** BY PERCENTAGE CLOSE DOWN 52w high/low PSL Hldgs W*****2 0.1
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    • Article
      UNUSUAL ACTIVITY
      81 8 VOL CLOSE($) CHANGE ChinaKundaTech 11,460.0 0.085 +0.020 +30.77 Yongmao 290.0 0.150 -0.010 -6.25 Fischer Tech 1,601.0 0.220 +0.021 +10.55 Heatec Jietong 124.3 0.093 +0.013 +16.25 Raffles United 100.0 0.200 +0.020 +11.11 Mercator Lines 5,505.4 0.026 -0.007 -21.21 Foreland FabriT 1,660.2 0.010 +0.002 +25.00 MSC 8.9 0.915 +0.110 +13.67
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    • Article
      BROKERS’ TAKE
      416 8  -  Compiled by Chan Yi Wen Mapletree Logistics Trust Hold May 26 close: S$1.195 Target price: S$1.29 DBS Group Research, May 26 MAPLETREE Logistics Trust (MLT) announced the proposed acquisition of two warehouses, Mapletree Logistics Bac Ninh Phase 1 in Vietnam from its sponsor, and Dakonet Logistics Center in
      416 words
    • Article
      CALENDAR
      17 8 DATA I (May 27) Singapore Business Receipts index I 8pm (May 27) US MBA Mortgage Applications
      17 words
    • Article
      US$ on upward track, hits 8-year high against yen
      434 9 CURRENCIES REUTERS Warsaw THE US dollar rose one per cent against a basket of currencies on Tuesday, extending gains since a rise in US core inflation last Friday and driving the euro briefly below US$1.09 for the first time in a
      REUTERS  -  434 words
    • FOREX RATES
      • Article, Illustration
        HANG SENG
        2 9
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      • Article
        INTERBANK CROSS RATES
        471 9 May 26 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.961 4.830 0.715 6.035 49.674 102.905 0.954 8.591 2.823 1.069 79.377 34.807 1.050 9.344 0.740 23.827 26.276 0.505 0.779 Canada 1.041 5.026
        471 words
      • Article, Illustration
        SHANGHAI COMPOSITE
        2 9
        2 words
      • Article, Illustration
        DOW JONES
        2 9
        2 words
      • Article
        INTERBANK CURRENCY RATES
        155 9 May 26 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0495 1.0502 0.7784 0.7787 Canadian dollar 1.0922 1.0926 0.8102 0.8100 Euro 1.4687 1.4692 1.0893 1.0894 NZ dollar 0.9813 0.9821 0.7278 0.7282 Sterling pound 2.0771 2.0782 1.5405 1.5410
        155 words
      • Article
        US$/S$ FORWARD RATES
        22 9 May 26 S$ Bid Offer 1-month 1.3489 1.3495 2-months 1.3495 1.3504 3-months 1.3500 1.3504 6-months 1.3522 1.3530 Source: OCBC
        22 words
      • Article, Illustration
        NIKKEI
        1 9
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        BONDS, WARRANTS, PREFERENCE SHARES
        206 9 Most active May 26 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 3.2 unch 3473 1 18 17 WE Holdings Ltd W*****5 0.2 -0.1 3115 1 0 3 Charisma EnergyServicesW*****3 0.5 0.1 2100 1 3 18
        206 words
      • Article
        MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 9 In local curr In S$ In US$ dy yr dy yr dy yr May 25 Index Change Change Change Change Change Change World Preliminary 1367.1 0.0 7.2 0.0 6.4 0.0 5.5 EAFE Preliminary 1115.0 0.1 13.0 0.1 10.0 0.1 9.1 Europe Preliminary 1554.6 -0.3 12.5
        373 words
      • Article
        SGX DERIVATIVES TRADING
        404 9 May 26 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.94 *****.58 *****.30 May15 *****.50 *****.00 *****.00 *****.50 *****0 *****0 Jun15 *****.50 *****.50 *****.00 *****.00 *****3 *****7 NIKKEI 225 INDEX FUTURES SPOT *****.27 *****.85 *****.77 Jun15 *****.00 *****.00 *****.00 *****.00 ***** *****5 Sep15
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    • BANK RATES
      • Article
        SIBOR
        36 9 May 26 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.***** SOUTCBC THOMSON RBLKBTS
        36 words
      • Article
        INTERBANK RATES
        154 9 May 26 $S Offer Bid 0vernight 0.15 0.10 1-month 0.6875 0.5625 2-months 0.75 0.625 3-months 0.8125 0.6875 Overnight mode: 0.10 US$ Offer Bid 7 days 0.17 0.07 1 month 0.23 0.13 2 months 0.28 0.18 3 months 0.40 0.20 6 months 0.60 0.40 9 months 0.70 0.50 12
        154 words
      • Article
        GOVERNMENT SECURITIES
        65 9 May 26 May 26 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.49 5-Year N*****0H 1.625 01-Oct-19 99.9 10-Year NY*****H 3.000 01-Sep-24 105.4 105.40 105.25 15-Year NY*****E 2.875 01-Jul-29 102.4 102.45 102.45 20-Year NZ*****V 3.375 01-Sep-33 108 30-Year NA*****N
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    • AGRI METALS ENERGY
      • Article
        COMMODITY FUTURES
        193 9 May-22 Price Net change change Last Trade Agricultural May-22 CBOT Soybeans (US cents/bu) 924.25 -14.25 -1.52% 14/07/2015 CBOT Soybean Oil (US cents/lb) 31.64 -0.61 -1.89% 14/07/2015 CBOT Wheat (US cents/bu) 515.25 -6.75 -1.29% 14/07/2014 May-22 LIFFE Cocoa (£/tonne) 2112.00 16.00 0.76% 16/07/2015 LIFFE Coffee (US$/tonne) 1589.00 -55.00 -3.35%
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      • Article
        PALM OIL
        57 9 May 26 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 15 2160.0 2167.0 2168.0 2160.0 48 1263 Jul 15 2158.0 2186.0 2192.0 2158.0 3188 ***** Aug 15 2156.0 2185.0 2192.0 2155.0 ***** ***** Sep 15 2159.0 2188.0
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    • Article, Illustration
      Past price behaviour points to El Nino lifting palm oil prices
      1308 10  -  Prolonged dry weather expected to hit production but boost prices over the next one to two years By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore IF history is any guide, the haze cast over the palm oil sector could soon
      Source: OCBC Bank, Bloomberg  -  1,308 words
    • Article
      Asian investors sought for Western Australia’s resources sector
      602 10  -  By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore THE commodities price slump offers opportunities in Western Australia for Singapore investors, especially in liquefied natural gas (LNG), Bill Marmion, the state’s mines and petroleum minister, has said. In an interview with The Business Times
      602 words
    • Article, Illustration
      N ourishing by N ature
      1069 11 Piet Hilarides, FrieslandCampina’s Chief Operating Officer, Asia, shares the company’s vision in protecting the future of food, nutrition and farming in Asia and beyond. A SPECIAL FEATURE BROUGHT TO YOU BY THE DUTCH COALITION FOR SUSTAINABILITY AND FrieslandCampma tiff By 2050, the world’s population is
      1,069 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      137 6 CONSUMER ELECTRONICS UP TO 90% OFF! 29-31 MAY 2015 SUNTEC SINGAPORE LEVEL 4, HALLS 404-406 12-9PM CHECK OUT THESE EXCITING PRODUCTS AT CEE! Samsung S27D590C 27" Full HD Curved Screen Enjoy stunningly immersive viewing Discover amazing contrast from any angle Bring entertainment to life Give comfort to your eyes Fitbit
      137 words
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      Page 6 Advertisements Column 2
      52 6 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
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  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
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      179 words
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      Page 7 Advertisements Column 2
      166 7 MBFC TOWER 2 1 PSA BUILDING SIX BATTERY RD SUNTEC TOWER 3 5) 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
      166 words
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  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      234 10 m ■TWSL 4 Renowned for its multi-sensory culinary experience and breathtaking views, Equinox Restaurant offers a decadent menu prepared by Chef de Cuisine Paul Hallett, highlighting premium produce from fine meats to the freshest sustainable seafood, and an assortment of delightful desserts. Available daily, 6.30pm to 10.30pm swissotel THE STAMFORD
      234 words
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  • Page 11 Advertisements
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      Page 11 Advertisements Column 1
      100 11 FrieslandCampina Every day we provide healthy nutrition for millions of people worldwide Each day FrieslandCampina provides millions of consumers all over the world with dairy products such as dairy-based beverages, infant nutrition, cheese, desserts, butter and cream products, milk powder and dairy-based ingredients FrieslandCampina brings the best of both worlds
      100 words
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  • REAL ESTATE
  • Page 12 Advertisements
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      Page 12 Advertisements Column 1
      31 12 $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
      31 words
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  • BANKING & FINANCE
    • Article, Illustration
      Islamic financing well suited to Asian infrastructure: Najib
      535 13  -  He suggests Japan be Malaysia’s major partner in the setting up of Asia’s Islamic financing platform By Anthony Rowley btworld@sph.com.sg Tokyo THE Islamic financing model is “eminently suited” to supplying the huge needs of Asian countries for tangible infrastructure assets, Malaysia’s Prime
      PHOTO: AFP  -  535 words
    • Article
      Away from pay raises and towards job perks, one-time bonuses
      756 13 NYT New York YACHT-SIZED bonuses for Wall Street big shots and employ-ee-of-the-month plaques for supermarket standouts are nothing new, but companies’ continued efforts to keep costs down have pushed employers to increasingly turn to one-off bonuses and non-monetary rewards at
      NYT  -  756 words
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      2112 13 The Business Times Ik 1 1 Toll free 1800-289-8822 I Email noticeSiisph.com. sg I Y i j L J www.sphclass.com.sg/notices JPMorgan Chase Co. Parent company of JPMorgan Chase Bank, National Association JPMorgan Chase Co. Condensed Consolidated Statement of Income Year ended December 31, 2014 In millions, Revenue except per share
      2,112 words
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  • ENERGY & COMMODITIES
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      1254 14 AMTEK ENGINEERING LTD (Company Registration Number *****3886K) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Amtek Engineering Ltd (the “Company”) will be held at Holiday Inn Singapore Atrium, 317 Outram Road, Singapore *****5 on Friday, 19 June
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  • TECHNOLOGY
    • Article, Illustration
      Countries getting involved in smartphone wars
      905 15 South Korea, China are adopting antitrust policies that may require firms to license inventions to rivals more easily BLOOMBERG Washington A NEW front is opening in what’s been dubbed the smartphone wars: This one involves countries, not companies. South Korea and China are adopting
      BLOOMBERG; PHOTO: BLOOMBERG  -  905 words
    • Article
      Samsung restructures as it plans for succession
      428 15 REU TERS Seoul SAMSUNG Group’s de facto holding company on Tuesday sought another cornerstone as it reconstructs South Korea’s biggest conglomerate to smooth the path for management succession, offering more than US$8 billion to buy an affiliate with a key stake in flagship
      REUTERS  -  428 words
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      372 15 KONICA MINOLTA I Giving Shape to Ideas ENHANCING PRODUCTIVITY IN LEARNING INSTITUTIONS I As a school administrator, Konica Minolta has been an ideal solution. Preparing course materials is now a breeze as every document and every one are connected. The students can now print out their own materials using their
      372 words
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  • CONSUMER
    • Article
      China price cuts put pressure on foreign drugmakers
      595 16 New bidding systems make multinationals compete more directly with local generics BLOOMBERG Beijing STARTING from June 1, most drugs in China will be liberated from government-set price caps. For foreign drugmakers, though, pressure to cut prices is rising. Since late last year,
      BLOOMBERG  -  595 words
    • Article
      Charter-Time Warner cable deal reflects shifting TV market
      304 16 NYT New York TRYING to succeed where Comcast failed, Charter Communications has struck a deal to buy Time Warner Cable, an acquisition that would create a powerhouse in the consolidating American cable and broadband industry. Charter announced on Tuesday a US$56 billion
      NYT  -  304 words
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      2019 16 Consolidated financial statements year ended 31 December 2014 Board of Directors Balance sheet at 31 December 2014 Chairman Jean LEMIERRE (since 1 December 2014) Baudouin PROT (until 1 December 2014) In millions of euros 31 December 2014 31 December 2013(1) ASSETS Cash and amounts due from central banks 117,473 100,787
      2,019 words
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      176 17 I 1 T: 2 I :1 H"-MAN E I I 1 lil W J 7‘I Ely?’ E I 15.1 E’ ‘SW 17‘? S‘ U13‘ il“IN In I ~e<--~~ "/i‘BiV‘\A I 1 r S y ,A./ ',i\ .1 I ‘/’J,»$» ",.’.3.-\.;v>2”’d.b'=:-—””‘ I tl%|J1’E I .3 z(" ,.>{:/ ,3", B I RD’S
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      2853 17 Banco Santander S.A. S Head Office: Ciudad Grupo Santander, Avda. de’Cantabria s/n ***** Boadilla del Monte, Madrid (Espana) Singapore Office: 50 Collyer Quay #06-O2, OUE Bayfront, Singapore *****1 Consolidated Financial Statements consoiidated Balance sheets Consolidated Statements of Income at 31 December 2014 and 2013 for the years ended 31 December
      2,853 words
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Australia’s research budget cuts draw flak
      844 18 Meanwhile, tax cuts and write-offs are offered to small businesses to buy equipment BLOOMBERG Sydney AUSTRALIA is betting on plumbers and coffeeshop owners over scientists and researchers to drive the nation’s next wave of economic growth. The country that brought you refrigerators, black-box flight
      BLOOMBERG; PHOTO: AFP  -  844 words
    • Article, Illustration
      China’s central bank policies appropriate: IMF
      572 18  -  Fund calls on Beijing to further push reforms in the financial and state sectors By Virginie Mangin btworld@sph.com.sg Beijing THE International Monetary Fund (IMF) said that the current easing monetary policies implemented by China’s central bank were appropriate but that Beijing must push ahead
      PHOTO: BLOOMBERG  -  572 words
    • Article
      Capital goods orders up for 2 straight months
      424 18 LATEST US DATA REUTERS Washington US business investment spending plans increased solidly for a second straight month in April, a hopeful sign for manufacturing activity after a long spell of weakness. The Commerce Department said on Tuesday that non-defence capital goods orders
      REUTERS  -  424 words
    • Article
      India official sees scope for rate cut
      300 18 AFP New Delhi INDIA’S central bank has room to cut interest rates further with inflation expected to remain under control in coming months, the country’s top economic advisor said on Tuesday. Arvind Subramanian said India’s adequate food stocks would help contain inflation even
      AFP  -  300 words
    • Article
      China reveals plans to extend naval reach
      400 19 Policy document from state council says that air force will shift focus from territorial air defence to both offence and defence REUTERS Beijing CHINA outlined a strategy to boost its naval reach on Tuesday and held a groundbreaking ceremony for two lighthouses in
      REUTERS  -  400 words
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      282 18 Does your child THINK' and TALK' Science? r-.-~ r a Memorising facts alone is no longer enough for good grades. Todays Science examination requires students to identify relevant facts, apply them in correct context and communicate answers completely, precisely and accurately. Authors, Speakers Alda Urn, Cedric Chai. (Former School HOD
      282 words
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      373 19 The Business Times Ik I 1 I /“I I 1 Toll free 1800-289-8822 I I Email notices@sph.com.sg J J i j L J www.sphclass.com.sg/notices The Hongkong and Shanghai Banking Corporation Limited Annual Results for 2014 We have audited the accounts of The Hongkong and Shanghai Banking Corporation Limited for the
      373 words
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  • TRANSPORT
    • Article
      A very dangerous suggestion
      747 20  -  A maritime security service provider’s statement, that only ships with guards on board could safely rescue refugees, is a step down a very slippery slope STRAIT TALK BY DAVID HUGHES IT is not very often that a press release elicits such a strong negative response as
      747 words
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      MAS to be completely revamped, says CEO
      491 20 REUTERS Kuala Lumpur LOSS-MAKING Malaysia Airlines is set to undergo a complete overhaul as it is restructured into a new company, with a rebranding that will be unveiled next week and changes planned to its fleet and network strategies. Christoph Mueller, who joined
      REUTERS; PHOTO: BLOOMBERG  -  491 words
    • Article, Illustration
      Uber drivers now doing airport pick-ups
      1084 21 US airports are gradually rewriting regulations to welcome ride-hailing services, including Uber and Lyft NYT Atlanta IN a productive week, Ingemar Smith, driver for hire, picks up about 50 passengers from Hartsfield-Jackson Atlanta International Airport. Instead of pulling up to the curb outside the
      NYT; PHOTO: NYT  -  1,084 words
    • Article
      China official on trial for selling coveted car plates
      305 21 AFP Beijing A FORMER head of Beijing’s traffic management office went on trial for handing out coveted car number plates to businesspeople in return for nearly US$4 million in bribes, a court said. Song Jianguo allegedly accepted more than 23.9 million
      AFP  -  305 words
    • Article
      THE BUSINESS TIMES Shipping times
      1711 24 MONTREAL 10 120 29/7 30/7 4/8 MONTREAL 10 120 29/7 30/7 4/8 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) SIN PKL KUC KK JKT SUR TAIKLI 37 80 55 2/6 4/6 8/6 KOOKYANG EXPRESS 3 55 4/6 5/6
      1,711 words
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      63 20 Our App cannot tell you how fast you ran, but we certainly can bring you up to speed in no time. DOWNLOAD THE ALL-NEW ASIAONE APP All the top publications in one FREE app. The newAsiaOne mobile app gives you instant access to the latest news, interesting lifestyle features and
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      493 21 The Business Times NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.sphclass.com.sg/notices JSBNI FT Bank Negara Indonesia (Persero) Tbk and Subsidiaries CONSOLIDATED STATEMENTS OF FINANCIAL POSITION 31 DECEMBER 2014 AND 2013 (Expressed in millions of Rupiah, unless otherwise stated) CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME FOR THE YEARS ENDED 31 DECEMBER 2014 AND
      493 words
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  • OPINION
    • Article
      Negative inflation in S’pore does not mean deflation
      661 22 A negative inflation rate should not be equated with deflation. This has been said before but is worth reiterating, now that Singapore has reported its sixth month of negative inflation in a row. EDITORIAL Official statistics on Monday showed that the consumer
      661 words
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      You can’t have harmony without trust
      754 22  -  THE BOTTOM LINE By Frank Ching T The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 THE Jeju Forum for Peace and Prosperity, held annually on the South Korean island of Jeju, dedicates itself to ideas such as diversity
      754 words
    • Article, Illustration
      1985: Pan-El capped watershed year for S’pore
      1678 22  -  The Pan—E1 saga has had a part in helping to shape the modern state of Singapore. BY DAVID MASON BY DAVID MASON T The writer, a business communications consultant in the UK, was a Price Waterhouse Singapore partner for 18 years in the
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    • Article
      Opec finds no quick end to its conundrum
      1025 23  -  COMMENTARY By G Panicker OPEC, the oil producers’ group, must be puzzling over how to crack the current supply conundrum. Their five-month-old market share strategy has not yet humbled the upstart American shale oil producers. The world still has more than enough
      1,025 words
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      Analytics is new mantra in data management
      726 23  -  By Bala Shankar T The writer is a director of NPS international School WE LIVE in an environment infested with data. There is big data (and by corollary, small data) but data is not tantamount to insight and more significantly, data does not
      PHOTO: BLOOMBERG  -  726 words
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      Managing talent in the age of IoT
      1077 23  -  The Internet of Things is reshaping how businesses function; human resources will have to adapt to a completely new paradigm. BY NINA XIAO paradigm.BY NINA XIAO T The writer is Practice Lead at Radford Asia Pacific, Aon Hewitt OVER the last couple of
      PHOTO: REUTERS  -  1,077 words
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      105 24 Experienced !>h;p maintenance services wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THB1SLSINESS TIMES Shipping times Make A Splash In The Maritime World Via s^'Bmaritime.coM Ahoy there! If you are in a business pertaining to any sector of the
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      79 24 Equipment Processing Centre (EPC) within Jurong Port (FTZ) Providing a one-stop solution for all your logistics needs C a l l 8 1 2 1 0 9 6 6 o r e m a i l 2 WA S S I N E P C O p e r a
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  • LIFE & CULTURE
    • Article, Illustration
      MasterChef Asia to air this year
      582 25  -  Home cooks from the region will duke it out over 15 episodes to impress the three judges.BY TAY SUAN CHIANG judges.BY TAY SUAN CHIANG taysc@sph.com.sg @TaySuanChiangBT WHAT will it take to win the first MasterChef Asia? Plenty of chopping, cooking and plating skills and
      PHOTO: LIFETIME  -  582 words
    • Article, Illustration
      High-end golf business doing well
      840 25 REUTERS New York WARNING bells have sounded on the health of golf, from lower participation and course closures to environmental demands for reduced water use, but billionaire Donald Trump says that business at the high end is grand. Mr Trump on Tuesday was due to
      REUTERS; PHOTO: REUTERS  -  840 words
    • Article
      Greece looks to promote its fertility treatment sector
      524 25 BLOOMBERG Athens MAKING babies is a business as well as a way of life for father of eight Kostas Pantos. As founder of Genesis, Greece’s biggest fertility clinic, he oversees 5,000 cycles of treatment every year, or about a third of the
      BLOOMBERG  -  524 words
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      Lock icon BB King’s death probed as homicide, says coroner
      464 25 AFP Washington POLICE in Las Vegas have launched a homicide investigation into the death of BB King, a Nevada coroner’s office said on Monday, after the blues guitar legend’s daughters reportedly accused his aides of poisoning him. King died at age 89
      AFP; PHOTO: REUTERS  -  464 words
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      44 25 w snj mS $10,000 f DJ GUESSING GAME GUESS WHO'LL BE JOINING ANDRE HOEDEN ON ONE FM’S #1 BREAKFAST SHOW IN JULY! <8SSg TO WIN! GET IT RIGHT ONE FM'S #1 BREAKFAST SHOW COULD BE CALLING YOU WITH CASH! Wi fecebook.com/onefmsg 0 @onefmsg www.onefm.sg
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  • Page 25 Miscellaneous
    • Miscellaneous
      Lock icon Page 25 Miscellaneous Column 1
      312 25 CRYPTIC CROSSWORD Across 1 Full value that’s reduced by inflation (6-5) 9 Soldiers get together to reminisce (9) 10 End of the line for an old criminal? (5) 11 Have an inferior berth, but remain quiet? (3,3) 12 Director harassed by person who’s owed money (8) 13 Strain to find
      312 words
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  • EXECUTIVE MONEY
    • Article, Illustration
      Lock icon China stocks keep outdoing forecasts
      857 26 Monetary easing and a buying frenzy among Chinese retail investors sent shares more than doubling through last week alone BLOOMBERG ONLY in China can you predict the world’s biggest stockmarket rally and still come out looking like a pessimist. A year ago, analysts who cover
      BLOOMBERG; PHOTO: REUTERS  -  857 words
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      Lock icon Julius Baer: Catering to Asia’s wealthy
      675 26  -  By Genevieve Cua gen@sph.com.sg @GenCuaBT ASIAN investors’ behaviour differs markedly from those in Europe or the US, so private bank Julius Baer takes pains to ensure that the majority of its staff and management are Asian, says group chief executive Boris Collardi. So far,
      PHOTO: JULIUS BAER  -  675 words
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      Lock icon Making sense of the bond market
      1098 27  -  Bond prices translate into the price to borrow money for individuals and businesses, which in turn determines savings and investment patterns By Neil Irwin NYT IF you happen to trade bonds for a living, it is entirely understandable if you are feeling a little
      NYT; PHOTO: AFP  -  1,098 words
    • Article
      Lock icon Global funds buy more Singapore stocks
      459 28 ON THE RADAR GLOBAL mutual funds bought more Singapore stocks than they sold in the three months to May 20. Based on the top five stocks transacted, there were S$2.13 billion of net buys, compared to net sells of S$ 1.12 billion. This week
      459 words
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      60 26 emirates.com/sg Be driven to raise your game Enjoy the convenience of our Chauffeur-drive service to and from the airport. You’ll arrive feeling calm and collected, ready to take your performance to the next level. Earn Skywards Miles World-class service Free Wi-Fi available on select aircraft For more details, visit emirates.com/sg,
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      134 27 TOP TRADERS DIDN’T MISS CHINA A50’s MOVE UP 132%*, DID YOU? IG offers a wide range of products to complement your trading sentiment exposure to China 300, China A50, China H-shares, Hong Kong HS50, USD/CNH and more. Take the next step in trading at IG.com.sg or call us at +65
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      91 28 Swiss quality. The travel version. Fly directly from Singapore to Switzerland and experience how Swiss quality and hospitality can turn any journey into something special. Find out more on swiss.com III" 1 mm IK3K HI --If W A w M 1 —a »zLi F I: -=i i -r;1 Jfcv. ik
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