The Business Times, 28 May 2015

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1 28 The Business Times
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  • Title Section
    Lock icon Masthead
    34 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 U D @BTBreakingnews CO REGN NO ’l*****868E MCI (P) 051/08/2014 Thursday, May 28,2015
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  • Article, Illustration
    Lock icon DAILY DIGEST
    252 1 With the yen falling to an eight-year low against the US dollar, Japan’s government and central bank officials are rushing to calm currency market speculation in the run-up to a meeting of G-7 finance ministers in Germany. TOP STORIES 2 Public-sector infocomm tenders to the tune of some
    252 words
  • Article
    Lock icon Merger of real estate agencies underway
    952 1  -  Up to six could be involved; new entity could be fourth largest player in the market By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore A MERGER of three real estate agencies in Singapore Global Property Strategic Alliance (GPS Alliance), MORE Property and Trillion Property is said
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  • Article
    Lock icon Singapore still 3rd most competitive, HK rises to 2nd: IMD
    936 1  -  impact of restructuring shows up on indicators of productivity and labour market By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT Singapore SINGAPORE has again been ranked the world’s third most competitive economy by business school IMD, but lost its top spot on
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  • Article
    Lock icon MARKETS
    27 1 Wednesday Change STI 3,424.94 -35.04 KL COMP 1,755.05 -9.02 NIKKEI 225 20,472.58 +35.10 HANG SENG 28,081.21 -168.65 SHENZHEN B 1,564.75 -7.36 DOW (11:45am EDT) 18,159.81 +118.27
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  • Page 1 Advertisements
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  • TOP STORIES
    • Article, Illustration
      Lock icon MAS to spring biggest layoff in Malaysia’s corporate history
      713 2  -  Staff expected to receive notices on job status latest by Friday By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore SOME 8,000 staff of Malaysia Airlines (MAS) will soon receive the bleak news that they will be laid off under a large-scale staff cutback
      PHOTO: BLOOMBERG  -  713 words
    • Article
      Lock icon Yen’s continuing fall sows alarm among Japanese officials
      697 2  -  By Anthony Rowley btworld@sph.com.sg Tokyo WITH the yen falling to an eight-year low against the dollar this week and various indicators suggesting that it isn’t done doing so, Japan’s government and central bank officials are rushing to calm currency market speculation in
      697 words
    • Article
      Lock icon Court rejects govt move on independent accountants for AHPETC; it also raps council
      615 2  -  By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT THE High Court has turned down the government’s application to appoint independent accountants to oversee government grants made to Aljunied-Hougang-Punggol East Town Council (AHPETC), run by the opposition Workers’ Party. But
      615 words
    • Article
      Lock icon Govt to spend S$2.2 billion on infocomm this year
      928 4  -  These are for contracts in areas such as digital and data services, web services and infocomm infrastructure By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore AROUND S$2.2 billion in public-sec-tor infocomm tenders will be up for grabs during fiscal 2015. Procurement will
      928 words
    • Article
      Lock icon Changi East development works move into next phase
      548 4  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore LAND preparation works for the massive Changi East development which include Changi Airport’s upcoming Terminal 5 and third runway are on track, with ground improvement works now underway. Challenges for the mammoth project include unsuitable ground
      548 words
    • Article, Illustration
      Lock icon Ex-trader depicted as Libor ‘ringmaster’
      581 4 NYT London TOM Hayes, a 35-year-old former trader for Citigroup and UBS, was the “ringmaster” in a concerted effort to manipulate global benchmark interest rates to make as much money as he could, prosecutors said on Tuesday in a London court. “It was that greed
      NYT; PHOTO: BLOOMBERG  -  581 words
    • Article
      Lock icon Crowdfunding firms form alliance to boost industry in S-E Asia
      556 4  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore THE largely dormant crowdfunding space in Singapore was jolted on Wednesday by the news of a threeparty alliance comprising local platforms CoAssets, FundedByMe and New Union. The alliance seeks to grow the South-east Asian
      556 words
    • Article
      Lock icon New social enterprise resource agency hopes to develop sector
      632 4  -  By Elizabeth Mak eamak@sph.com.sg Singapore THE progress of a society should not be measured by just its wealth, but also by how it helps its less fortunate members, President Tony Tan Keng Yam said on Wednesday. Dr Tan was the guest
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    • Article, Illustration
      Lock icon DBS grows digital footprint while embracing POSB heritage
      957 5  -  It is in talks with large online retailers to offer mobile wallet PayLah as a payment option By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore SINGAPORE’s largest bank which holds about half of the entire country’s savings is juggling its evolution into a digital
      957 words
    • Article
      Lock icon Business receipts of Singapore’s services sector up 3.3% in Q1
      331 5  -  All segments except recreation personal services experience turnover growth By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore BUSINESS receipts for Singapore’s services industry rose 3.3 per cent year on year in the first quarter of 2015, with all but the recreation personal
      331 words
  • Page 2 Advertisements
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      Lock icon Page 2 Advertisements Column 1
      54 2 Save up to 50% Sale ends next weekend 7 June 2015 spacefurniture.asia Space Furniture Open 10.30am to 8.00pm daily 77 Bencoolen Street, Singapore *****3 +65 6415 0000 Conditionsapply. Check in-store for details Earn > spent onyour American Express Cards at Space Ft Express Platinum® Reserve Credit Card and Platir International,
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      135 5 Beef Up Your Finances Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your IPOs other offerings is M I* •III Singapore Business Advisors Consultants Council (SBACC) presents the inaugural Singapore Management Consulting (SMC) Awards 2015. The SMC Awards recognises leaders in the management consulting industry and their accomplishments. Management
      135 words
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  • COMPANIES & MARKETS
    • Article
      Lock icon iflix launches in Malaysia, the Philippines
      472 6  -  VOD service’s debut comes a day after HOOQ’s launch in India, sparking Netflix-type rivalry in region By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore IFLIX, a video-on-demand (VOD) service founded by Singapore-born Internet entrepreneur Patrick Grove, on Wednesday made its global debut in Malaysia and the
      472 words
    • Article
      Lock icon Hour Glass full-year earnings up 5% on higher revenue
      429 6  -  Group’s focus on retail network quality, product mix and costs pays off By Fiona Lam fionalam@sph.com.sg Singapore DESPITE a contracting regional luxury market, The Hour Glass on Wednesday clocked up a 5 per cent increase in net profit to S$57.9 million
      429 words
    • CORPORATE DIGEST
      • Article
        Lock icon ISOTeam
        71 6 ISOTEAM on Wednesday announced the placement of nine million new shares at S$0.58 apiece. The transaction will raise about S$5.04 million in net proceeds, which the group intends to use to fund its capital expenditures, inorganic business expansion, and as general working capital. One of the placees is an
        71 words
      • Article
        Lock icon Singapore Windsor
        58 6 SINGAPORE Windsor Holdings has secured a 10-year supply and merchandising agreement with DFS, beginning May 22, 2015. By the end of this year, the group is expected to be responsible for managing and operating almost 2,000 square metres of duty-free retail space at Naypyitaw International Airport and Yangon
        58 words
      • Article
        Lock icon United Envirotech
        69 6 UNITED Envirotech’s net profit for the full year jumped 197.1 per cent to a record S$62.4 million while revenue increased 72.5 per cent to a record S$349 million. The group also benefited from new contribution from membranes sales generated from Memstar Technology, which was acquired by the group
        69 words
      • Article
        Lock icon IEV Holdings
        77 6 IEV Holdings’ subsidiary IEV International and its associated company IEV (Malaysia) have collectively secured five new contracts under its subsea solutions business unit for the provision of structural pile grouting and free span correction services valued at about US$2.2 million. Barring any unforeseen circumstances, the contracts are expected
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      • Article
        Lock icon CapitaLand
        153 6 CAPITALAND has reached the clearing threshold for its convertible bonds due 2016 and 2018. For the 2.875 per cent bonds due 2016, it received valid tenders amounting to S$432.75 million, of which it has accepted S$423 million. The clearing price for the bonds has been set at 104.2 per
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    • Article
      Lock icon Insurer Generali unveils cash generation plans
      206 6 BLOOMBERG Milan ASSICURAZIONI Generali SpA, Europe’s third largest insurer, will seek to offset the impact of record low interest rates by setting aside more capital for shareholders and expanding its retail business. Generali will increase cumulative cash flow generation to more than seven billion
      BLOOMBERG  -  206 words
    • Article
      Lock icon Courts Asia’s Q4 net profit down 16.4% at S$6.6m
      327 6  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore COURTS Asia's net profit for the fourth quarter fell 16.4 per cent, from S$7.8 million to S$6.6 million on the back of revenue dipping 7 per cent from S$207 million to S$192.S million. For the
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    • Article, Illustration
      Lock icon M&A deal-making in high-growth markets picks up steam: KPMG
      435 8  -  1,020 completed M&A deals in H2 2014 involved companies from 13 high-growth markets By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore THE number of merger and acquisition (M&A) deals between developed and high-growth markets grew for the second half-year in a row, according
      Source: KPMG  -  435 words
    • Article
      Lock icon Fed likely to up rates in Dec: Fidelity
      381 8  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THE US Federal Reserve is likely to raise rates in December amid the mixed data on economic growth and wage inflation, a senior analyst at Fidelity Worldwide Investment said at a briefing on Wednesday. “We think
      381 words
    • Article
      Lock icon Yongmao’s Q4 profit down 37.3%
      359 8  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore YONGMAO Holdings’s net profit for the fourth quarter ended March fell 37.3 per cent, from 11 million yuan (S$2.4 million) to 6.9 million yuan as revenue dropped 22.8 per cent, from 220.5 million yuan to 170.1 million yuan. This
      359 words
    • Article, Illustration
      Lock icon SGX, IBF seek trading reps’ feedback on stock market
      437 9  -  Data from confidential online survey aimed at developing strategies to assist the trading rep community By R Sivanithy sivan@sph.com.sg @RSivanithyBT Singapore THE Singapore Exchange (SGX) and Institute of Banking and Finance (IBF) are seeking feedback from trading representatives (TRs) on topics
      437 words
    • Article
      Lock icon OLS to acquire M’sian Phosphate Additives in S$300m RTO deal
      545 9  -  One of the vendors, MTDC, is wholly owned by Khazanah Nasional By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore OLS Enterprise, an investment holding company on the Singapore Exchange (SGX) watch-list, on Wednesday announced plans to acquire Malaysian Phosphate Additives (MPA)
      545 words
    • Article
      Lock icon Stratech Group’s FY2015 earnings down 49.9%
      248 9  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore STRATECH Group’s net profit for FY2015 fell 49.9 per cent from S$ 1.5 million to S$732,000 despite revenue rising 48.29 per cent, from S$ 11.1 million to S$16.5 million. This was largely due to higher non-recurring administrative expenses,
      248 words
    • Article
      Lock icon Biosensors’ Q4 hit by exceptional items
      446 9  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore MEDICAL devices company Biosensors International has posted a net loss of US$247.04 million for the three months ended March 31, 2015, reversing the US$6.11 million profit in the year-ago period. Loss per share was 14.76 US cents for
      446 words
    • Article, Illustration
      Lock icon STI drops 35 points in wake of US sell-off
      746 10  -  Disappointing Q1 reports push Singapore firms down the slippery path of earnings downgrades: DBS Vickers STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT ON the plus side, volume at Singapore Exchange on Wednesday amounted to 1.64 billion units worth S$ 1.3 billion, much
      Source: Bloomberg  -  746 words
    • Article
      Lock icon STI STOCKS
      307 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 248 -5 251/245 271 219 5.9 6271.4 CapitaLand 356 -7 360/356 379 293 13 2.5 ***** CapitaMall Trust 222 unch 223/220 228 188.5 4.9 7702.7 CityDev 1035 -13 1038/1025 1095 915 12.4
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    • Article
      Lock icon MOST ACTIVE
      36 10 VOLUME Digiland Intl 137,908,100 China New Town 73,771,100 Federal Int 61,705,500 Ascendas-hTrust 61,363,200 Noble 47,936,000 Market volume 1,715,121,000 VALUE DBS Grp 94,307,144 Singtel 89,846,029 OCBC Bank 73,215,105 UOB 72,291,771 Ascendas-hTrust 43,552,743 Market value 1,305,105,000
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    • Article
      Lock icon SGX ETFs
      110 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 347 -3 284 349/346 355/319 346/347 IS MS India US$ US741 -3 103 741/734 1000/696 738/741 92.6 UETF SSE50China 319 -3 99 325/319 325/140 319/320 99.7 DBXT MSPAKIS US$ US198.3 +0.3 81 198.3/196 218.4/178.5
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 10 May 27 VALUE CLOSE BT OB/OS -111.00 -111.00 BT CADI -*****.00 -90.00 BT 10-day MA -*****.00 -11.00 FTSE ST Mid Cap 785.49 -2.72 FTSE ST Small Cap 499.62 -0.28 FTSE ST All Share 823.23 -7.06 FTSE ST China Top 216.93 -0.74 FTSE ST China 255.36 -3.05 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 10 STI FTSE ST All-Share FTSE ST All-Share index May 27,2015 823.23 -7.06 (-0.85%) Current streak 2 days Day high 826.19 Day low 820.88 52-week high 847.98 (Apr 15, 2015) 52-week low 762.71 (Oct 16, 2014)
      35 words
    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 10 STI MSCI EAFE MSCI EAFE index May 26,2015 1,906.44 -29.88 (-1.54%) Current streak 1 day Day high 1,930.97 Day low 1,904.20 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 6 4 0 0 0 4 6 4 Manufacturing 41 58 30 14 9 7 55 67 37 Commerce 17 21 23 2 12 3 19 33 26 Tpt/Stor/Comms 6 21 12
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 19,129 19,129 71,313 71,313 Manufacturing 204,821 68,662 273,483 128,506 5,238 133,743 Commerce 278,275 34,370 312,645 84,882 1,878 86,760 Tpt/Stor/Comms 108,071 350 108,421 197,231 25 197,255 Finance 67,498 139 67,637 264,945 25 264,970 Construction 51,523 13,278
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    • Article
      Lock icon GAINERS
      76 10 BY CENTS CLOSE UP 52w high/low JMH USD 6200 133.4 1.6 6788/5700 GlobalTesting 1 125 23.5 23.2 126.5/101.5 JSH USD 3410 13.5 0.3 3810/3233 DBS Bk 4.7% NCPS ***** 10.0 0.1 *****/***** IS Asia BND US 1067 9.4 0.7 1081/1031 BY PERCENTAGE CLOSE UP 52w high/low LifeBrandz 0.3 50.0
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    • Article
      Lock icon LOSERS
      76 10 BY CENTS CLOSE DOWN 52w high/low DBXT Nifty US$ ***** -342.2 -1.9 *****/***** DBXT MSKorea US$ 5781 -301.8 -3.7 6735/5484 SPDR DJIA US$ ***** -280.2 -1.1 *****/***** GLD US$ ***** -74.1 -0.5 *****/***** Jardie C&C 3979 -56.0 -1.4 4770/3850 BY PERCENTAGE CLOSE DOWN 52w high/low Infinio 0.2 -50.0 -0.2
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    • Article
      Lock icon UNUSUAL ACTIVITY
      83 10 VOL CLOSE($) CHANGE Debao Property 12,788.7 0.028 +0.008 +40.00 Foreland FabriT 4,983.1 0.013 +0.003 +30.00 P99 9,913.6 0.104 +0.019 +22.35 Dukang 3,786.4 0.189 +0.031 +19.62 Dapai Intl 2,710.0 0.008 +0.001 +14.29 AA 52.0 0.058 -0.008 -12.12 China New Town 73,771.1 0.096 +0.009 +10.35 GlobalTesting 1 0.1 1.250 +0.235
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    • Article
      Lock icon BROKERS’ TAKE
      439 10  -  Compiled by Chan Yi Wen Mencast Holdings Neutral May 27 close: S$0.375 Target price: S$0.37 rhb Research, May 27 MENCAST’s Q1 FY15 Patmi (profit after tax and minority interests) of S$1.13 million disappointed due to declines in Mencast’s offshore engineering and marine business segments. We cut our earnings
      439 words
    • Article
      Lock icon CALENDAR
      8 10 DATA I 9.30pm US initial jobless claims
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    • Article
      Lock icon Dollar rally continues, giving relief to central banks
      379 11 CURRENCIES BLOOMBERG Singapore US FEDERAL Reserve chair Janet Yellen is making life easier for her global central bank peers. The dollar is surging against other developed-market currencies, reaching an almost eight-year high versus the yen, after Ms Yellen said last week that
      BLOOMBERG  -  379 words
    • FOREX RATES
      • Article, Illustration
        Lock icon HANG SENG
        2 11
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      • Article
        Lock icon INTERBANK CROSS RATES
        471 11 May 27 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.961 4.804 0.709 6.004 49.553 102.208 0.953 8.557 2.816 1.069 78.940 34.614 1.044 9.316 0.734 23.711 26.157 0.502 0.774 Canada 1.040 4.996
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        Lock icon SHANGHAI COMPOSITE
        2 11
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      • Article, Illustration
        Lock icon NIKKEI
        1 11
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      • Article, Illustration
        Lock icon DOW JONES
        2 11
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 11 May 27 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0430 1.0444 0.7742 0.7747 Canadian dollar 1.0850 1.0860 0.8056 0.8053 Euro 1.4710 1.4721 1.0919 1.0920 NZ dollar 0.9762 0.9774 0.7246 0.7250 Sterling pound 2.0781 2.0796 1.5425 1.5426
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 11 May 27 S$ Bid Offer 1-month 1.3481 1.3491 2-months 1.3488 1.3500 3-months 1.3494 1.3508 6-months 1.3515 1.3528 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        407 11 May 27 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.03 *****.34 *****.52 May15 *****.50 *****.00 *****.50 *****.00 *****4 *****5 Jun15 *****.00 *****.00 *****.00 *****.00 *****3 *****5 NIKKEI 225 INDEX FUTURES SPOT *****.64 *****.22 *****.21 Jun15 *****.00 *****.00 *****.00 *****.00 ***** *****6 Sep15
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        204 11 Most active May 27 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 3.2 unch 6130 1 18 17 DBS MB ECW*****1 9.3 -1.2 4130 0.1 2180 5 FTSEChinaA50 ***** MBeCW*****0 13.9 -2.1 2887 0.0 2 UOB
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 11 In local curr In S$ In US$ dy yr dy yr dy yr May 26 Index Change Change Change Change Change Change World Preliminary 1357.0 -0.7 6.4 -0.2 6.2 -1.2 4.3 EAFE Preliminary 1109.0 -0.5 12.4 -0.6 9.3 -1.5 7.4 Europe Preliminary 1539.5 -1.0 11.4
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 11 May 27 $S Offer Bid 0vernight 0.12 0.07 1-month 0.6875 0.5625 2-months 0.75 0.625 3-months 0.8125 0.6875 Overnight mode: 0.15 US$ Offer Bid 7 days 0.17 0.07 1 month 0.23 0.13 2 months 0.28 0.18 3 months 0.40 0.20 6 months 0.60 0.40 9 months 0.70 0.50 12
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      • Article
        Lock icon SIBOR
        36 11 May 27 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
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      • Article
        Lock icon GOVERNMENT SECURITIES
        67 11 May 27 May 27 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.42 5-Year N*****0H 1.625 01-Oct-19 99.72 10-Year NX*****Z 2.375 01-Jun-25 99.54 99.68 99.60 15-Year NY*****E 2.875 01-Jul-29 102.24 102.65 102.30 20-Year NZ*****V 3.375 01-Sep-33 107.8 108.40 108.20
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        193 11 May-26 Price Net change change Last Trade Agricultural May-26 CBOT Soybeans (US cents/bu) 922.50 -1.75 -0.19% 14/07/2015 CBOT Soybean Oil (US cents/lb) 32.14 0.50 1.58% 14/07/2015 CBOT Wheat (US cents/bu) 493.50 -21.75 -4.22% 14/07/2014 May-26 LIFFE Cocoa (£/tonne) 2119.00 7.00 0.33% 16/07/2015 LIFFE Coffee (US$/tonne) 1537.00 -52.00 -3.27%
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      • Article
        Lock icon PALM OIL
        57 11 May 27 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jun 15 2180.0 2145.0 2180.0 2141.0 420 1611 Jul 15 2194.0 2179.0 2197.0 2166.0 3929 ***** Aug 15 2192.0 2178.0 2198.0 2168.0 ***** ***** Sep 15 2192.0 2178.0
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      Lock icon Page 6 Advertisements Column 1
      57 6 HOT PROPERTY BOURNEMOUTH 2-STY DE-TACHED Elevated FH 9189/ 6500sf, park 4 cars. Reno A&A. $10.xM. D05 **$3.2M! SUNGROVE Semi-D Spacious 8170 sf 5+1. 2 car parks. Amenities. Great location. BT TIMAH NEW 3-sty terr, opp Beauty World. Owner. Viewing weekdays 2-4pm LANDED PROPERTIES FOR SALE Check out these properties and
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      Lock icon Page 6 Advertisements Column 3
      165 6 flSGPF ■air Singapore Gifts Premiums Fair 2015 29-31 JULY 2015 Marina Bay Sands, Singapore Sands Expo Convention Centre, Level 1, Hall B C (|)BUY&WIN Simply visit SGPFairfrom 29-31 July and make a purchase (no min. value) before 31 Dec 2015 Pink Bri iante Eterno Worth $30 180 fK Stand a
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      4932 7 THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. If Noteholders (as defined below) are in doubt about any aspect of the Proposal (as defined below) and/or the action they should take, they should seek their own financial advice immediately from their stockbroker, bank manager, solicitor, accountant or
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      22 8 The Business Times Ik T I 1 I /“I 1 Toll free 1800-289-8822 I Email noticesasph.com. sg J V i I www.sphclass.com.sg/notices &-^?/;/{})..{::<]\%=!}:;>`];*_<
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      609 8 NORD/LB Norddeutsche Landesbank Girozentrale Head Office Friedrichswall 10, ***** Hannover, Germany. Tel: +49 (0) 511 361 0 Fax: 49 (0) 511 361 2502 Singapore Branch 6 Shenton Way, 0UE Downtown 2, #16-08/09/10, Singapore *****9. Tel: 6323 1223 Fax: 6323 0223 GROUP CONSOLIDATED BALANCE SHEET 31.12.2014 31 12 2013 Nord/LB confers
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      17 9 Choose from Prime Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Tenders Auctions Notices
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      168 9 RELIGARE I Values that bind Religare Health Trust (Registration Number *****06) (a business trust registered under the Business Trusts Act. Chapter 31A of Singapore) Notice of Books Closure Date Payment Date for Distribution for the Period from 1 October 2014 to 31 March 2015. Notice is hereby given that the
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      48 9 THE AUTHORITY ON ALL THINGS AUTOMOTIVE IT’S OUR 25TH BIRTHDAY, BUT YOU GET THE PRESENTS! OVER $25,000WORTHOFPRIZESUP FORGRABS FORMULAONEAFTER-PARTYPASSES SUPERCAR STREETCIRCUITTOURS CAR GROOMING PACKAGES NEWLOOK! F1 SIMULATOR DRIVES FUN KARTING PASSES HOWTOWIN GRAB A COPY OF TORQUE JUNE ANNIVERSARY ISSUE (IN PRINT OR DIGITAL) TO JOIN THE CONTEST!
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  • REAL ESTATE
    • Article
      Lock icon HDB launches record 9,431 flats for sale
      608 12  -  Consultants expect the well-located Clementi Crest project to attract the most interest By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THE Housing Development Board (HDB) on Wednesday launched a record 9,431 new flats for sale in 24 HDB towns and estates under its joint build-to-order
      608 words
    • Article
      Lock icon Speculation rises over Dubai developer Limitless land sale
      454 12 BLOOMBERG Dubai FOR all the progress made in tackling Dubai’s debt, some issues refuse to go away. Creditors to Limitless LLC are trying to arrange a meeting amid speculation that the Dubai-based developer sold land in Saudi Arabia, five people familiar with
      BLOOMBERG  -  454 words
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      Lock icon Havana property boom only for Cubans, for now
      1009 12 WP Havana A FEW hours and a mojito or two after arriving in this 500-year-old city, with its ocean vistas and dazzling architecture, American visitors often ask: Can I buy a piece of this? They cannot. The Cuban government doesn’t allow it.
      WP; PHOTO: REUTERS  -  1,009 words
    • Article, Illustration
      Lock icon UK-based banks planning for EU exit stymied by lack of European office space
      1084 13 Big global banks are expected to rethink the scale of their UK operations should Britain opt out of EU membership REUTERS London A SHORTAGE of prime office space in rival European financial centres may torpedo plans by
      REUTERS; PHOTO: REUTERS  -  1,084 words
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      Lock icon Gazit-Globe plans more property deals
      371 13 BLOOMBERG Oslo GAZIT-GLOBE Ltd, which manages more than US$21 billion of real estate assets, expects to add more property investments in the Nordic region after its Finnish subsidiary paid up US$1.6 billion to expand in Norway. “The Nordics present great opportunity given transparency, rule of
      BLOOMBERG; PHOTO: BLOOMBERG  -  371 words
    • Article
      Lock icon 3 Nomura Reits to merge to become Japan’s biggest
      287 13 BLOOMBERG Tokyo NOMURA Real Estate Master Fund Inc will merge with two other Nomura Reits to create the biggest real estate investment trust in Japan with 900 billion yen (S$9.8 billion) of assets. The master fund will merge with Nomura Real
      BLOOMBERG  -  287 words
    • Article, Illustration
      Lock icon California dreaming: US$500m tag on LA home
      943 14 New luxury mansions are proliferating in Los Angeles, often without buyers in place, known as building on spec RECORD PRICE HOMES BLOOMBERG Los Angeles ONE of the biggest homes in US history is rising on a Los Angeles hilltop, and the developer hopes
      BLOOMBERG; PHOTO: BLOOMBERG  -  943 words
    • Article
      Lock icon Househunt
      1493 14 Property transactions for districts 2 to 27 with contract dates between April 15 and April 21,2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 2 NON-LANDED 76 Shenton Apt 21/04/2015 99 592 1150 1943 The Arris Apt 20/04/2015 FH 980
      1,493 words
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      109 12 Top O’ the Hill Feel Luscious Pasir Panjang Semi-D SALE Theintangibleelementswhichdefinehome. Layout. Privacy. Space. Quiet Elegance. Lightfilled rooms. The country kitchen. The lush patio beside the azure pool. Elevanted, Almost new. With windows that frame the hillside to perfection. Come home to the best of the west. FOR www.isabelredrup.comA boutique
      109 words
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      200 12 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 Jalan Anak Bukit German European School Cheong Chin Nam Rd Yuk TongAve Charisma View Grand Chateau Royal Court Grand Regency Ground floor space at The
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      92 13 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
      92 words
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      132 13 THE CONCOURSE (BEACH ROAD) For Lease: Office •920 /1,184 1,625 3,897 6,300 16,264 sq ft From 12,000 to 40,000 sq ft on contiguous floors (Available August 2015) Next to Nicoll Flighway MRT Broadband enabled Panoramic Sea View Fringe of CBD Attractive leasing terms Immediate Occupation Hong Fok Group (Tel: 6390
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      17 13 20 COLLYER QUAY Excellent Seaview Next to Raffles Place MRT Station 1,001sf to 1,839sf 6225 7000I6428 7864
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      192 13 r -i Our team identifies property investment opportunities from around the world by thinking globally, studying trends, cultivating and maintaining strategic alliances with local and overseas partners. With our exclusive access to HNW clientele globally, we are able to match like-minded partners for real estate investment opportunities. FOCUSING ON ASIA
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      253 15 11 ■V -iJCf W 4 1? ORRI s' IS -f 3^ 7 *> m> m > k U X f r Jf >s fUr s ll S\NG Featuring Lang Lang and Apl.de.ap A MEGA CONCERT CELEBRATING 50 YEARS OF SINGAPORE MUSIC 7 AUGUST 2015, 7.30PM, NATIONAL STADIUM TICKETS ON SALE
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon Deutsche Bank settles derivatives case in US
      906 16 It will pay US$55 million penalty for its inadequate internal accounting controls during the financial crisis NYT New York DEUTSCHE Bank “overstated” the value of a multibillion-dollar portfolio of sophisticated derivatives during the height of the financial crisis, leading it to file inaccurate
      NYT; PHOTO: BLOOMBERG  -  906 words
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      1249 16 The Business Times Ik ~T I 1 I /"I I 1 Toll free 1800-289-8822 I I Email notices@sph.com.sg I V i www.sphclass.com.sg/notices Head Office: No 7, Song Ren Road, Taipei, Taiwan (R.O.C) Singapore Branch: 6 Raffles Quay, #20-06, Singapore *****0 Tel: (65) 6593 9280, Fax: (65) 6324 1959, Co. Reg.
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      1197 16 Head Office: Hana Bank Building 55 Eulji-Ro. Jung-Gu, Seoul, Korea, 100-720, http://www.hanabank.com Singapore Branch: 8 Cross Street, #23-06 PWC Building Singapore *****4 Tel: (65) 6438 4100 Fax: (65) 6438 4200 Swift: HNBNSGSG CONSOLIDATED STATEMENTS OF FINANCIAL POSITION As of December 31, 2014 and 2013 Korean Won in Million 2014 2013
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Opec seen backing Saudi plan to keep supplies up
      899 18 Cut in investment by oil firms, peaking US oil output and higher prices favour the Saudis at Opec’s June meeting BLOOMBERG Paris WHEN Saudi Arabia argues next week that the Organization of Petroleum Exporting Countries (Opec) should keep up production to
      BLOOMBERG; PHOTO: BLOOMBERG  -  899 words
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      2607 18 The Business Times Ik T^V 1 I 1 I /"I I 1 Toll free 1800-289-8822 I I I Email notices@sph.com.sg J J i L J www.sphclass.com.sg/notices First Gulf Bank PJSC Head Office: PO Box 6316, Abu Dhabi, United Arab Emirates Singapore Branch: 80 Raffles Place, #10-01/02, UOB Plaza 1 Singapore
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  • TECHNOLOGY
    • Article
      Lock icon Foxconn unit FIH Mobile’s bet on undiscovered brands pays off
      718 19 FIH’s earnings jump after working with Xiaomi; it is now seeking new growth in India market BLOOMBERG Taipei FOR FIH Mobile Ltd, being the unit of Foxconn Technology Group that doesn’t make iPhones has been a challenge. Its former name,
      BLOOMBERG  -  718 words
    • Article
      Lock icon DigitalGlobe, Saab in joint venture to build 3D model of the earth
      439 19 It sees billions of dollars in new business in defence, infrastructure markets REUTERS Washington US satellite imagery provider DigitalGlobe Inc and Sweden’s Saab AB on Tuesday announced a new joint venture aimed at building an accurate 3D model
      REUTERS  -  439 words
    • Article, Illustration
      Lock icon Time Warner Cable deal puts spotlight on publicity-shy tycoon
      856 19 NYT New York WHEN billionaire media executive John Malone bought one million acres of Maine forestland in 2011, assuming the mantle of America’s top landowner from his friend and fellow mogul Ted Turner, he made no triumphant announcement. Instead, he shielded
      NYT  -  856 words
    • Article
      Lock icon Android users can now use Periscope app
      478 19 WP San Francisco TWO months after debuting on the iPhone, Twitter announced on Tuesday that it’s finally making its live-video app, Periscope, available to Android users as well. Android users have had to wait to get in on the live-streaming fun, but they
      WP  -  478 words
    • Article
      Lock icon Snapchat has IPO plan, says CEO
      240 19 AFP San Francisco THE chief of vanishing-image service Snapchat on Tuesday said that the company has a plan for going public with an offering of stock but did not reveal when it might happen. “We need to IPO, we have a plan to do
      AFP  -  240 words
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      1445 19 THE BUSINESS TIMES NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF DATA SECURITY SYSTEMS SOLUTIONS PTE LTD (COMPANY NO: *****2810N) (IN MEMBERS’ VOLUNTARY LIQUIDATION) Extract of the Minutes of an Extraordinary General Meeting of DATA SECURITY SYSTEMS SOLUTIONS PTE LTD signed by the
      1,445 words
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  • CONSUMER
    • Article, Illustration
      Lock icon Louis Vuitton, Chanel’s value up despite slowing sales in market
      511 20 Value of top 10 luxury goods brands down 6 per cent as China clamps down on corruption and Russia’s currency depreciates BLOOMBERG Paris LOUIS Vuitton and Chanel were the only big luxury brands to increase in value last year as
      BLOOMBERG; PHOTOS: REUTERS  -  511 words
    • Article
      Lock icon LVMH in talks to buy French daily newspaper Le Parisien
      353 20 REUTERS Paris LUXURY goods group LVMH is in exclusive talks to buy French daily newspaper Le Parisien from media group Amaury, it said on Tuesday, as its looks to consolidate its media business which already includes financial daily Les Echos.
      REUTERS  -  353 words
    • Article
      Lock icon Twitter courts China firms despite being blocked
      398 20 REUTERS Shanghai DESPITE being blocked in China, Twitter is courting Chinese companies to buy advertising space on its service used by more than 300 million people elsewhere in the world. This week, the popular microblog platform has made presentations to prospective Chinese clients
      REUTERS  -  398 words
    • Article
      Lock icon GMO-free Similac infant formula for sale by end-May
      559 20 NYT New York THE maker of Similac Advance, the top commercial baby formula brand in the United States, says that it will begin selling the first mainstream baby formula made without genetically altered ingredients by the end of the month at Target.
      NYT  -  559 words
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      37 20 ONE YEAR OF MODI A report card on the Indian prime minister’s performance since taking office BEAUTIES WITH A CAUSE GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL SHAN (*****861) KALWANT (*****327) NISHAL (*****438)
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      30 20 Paint the town red, or just your room Find painters to do the job or promote your services in CLASS 112 To advertise, call the Print Classified Hotline: 1800-289 9988
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  • TRANSPORT
    • Article, Illustration
      Lock icon Jaguar Land Rover’s profit falls most in two years on China sales
      560 21 It says new launches, and conditions in China and Russia, may lead to lower Ebitda margins relative to sales in 2015 BLOOMBERG Mumbai JAGUAR Land Rover became the latest casualty of a slowdown in Chinese auto demand, reporting
      BLOOMBERG; PHOTO: BLOOMBERG  -  560 words
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      Lock icon Probes into root cause of Takata’s airbag problems
      677 21 REUTERS Detroit CARMAKERS and US safety regulators could take months to nail down why airbag inflators made by Takata Corp are exploding with too much force, meaning consumers cannot be certain replacement inflators installed under a sweeping recall are safe, industry officials
      REUTERS; PHOTO: AFP  -  677 words
    • Article
      Lock icon GE ‘in talks’ with Element on fleet assets sale
      403 21 BLOOMBERG Toronto GENERAL Electric Co, working to reduce dependence on its finance unit, is in advanced talks to sell assets in the US$9 billion vehicle fleet-management business to Element Financial Corp, people familiar with the matter said. No deal has been
      BLOOMBERG  -  403 words
    • Article
      Lock icon Ryanair posts record full-year profit, warns of stiff competition
      726 21 NYT Paris RYANAIR, Europe’s largest budget airline, reported a record full-year profit on Tuesday but warned of an intensifying fare war across Europe in the coming months as lower oil prices help to reduce operating costs for many of its full-service
      NYT  -  726 words
    • Article
      Lock icon SHIPPING TIMES
      962 26 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
      962 words
  • Page 21 Advertisements
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      441 21 The Business Times Ik I 1 I f I 1 Toll free 1800-289-8822 I I I Email noticesiSsph.com.sg I w I I i j www.sphclass.com.sg/notices IN THE MATTER OF SECTIONS 291(1) AND 296 OF THE COMPANIES ACT (CAP. 50) And The Companies (Winding Up) Rules AND IN THE MATTER OF
      441 words
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  • GOVERNMENT & ECONOMY
    • Article
      Lock icon KL’s fiscal accounts ‘less susceptible to low oil prices’
      569 22  -  Moody’s also says its A3 with a positive outlook for the country is based on progress of its fiscal consolidation By Pauline Ng btworld@sph.com.sg Kuala Lumpur MOODY’S Investor Service, which has affirmed Malaysia’s sovereign at A3 with a positive outlook, views
      569 words
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      Lock icon Britain to hold EU poll, give Scotland more powers
      635 22 Queen Elizabeth II: London to push for EU reform, and hold referendum by end of 2017 AFP ,London PRIME Minister David Cameron’s government has confirmed that it will hold a referendum on whether Britain should leave the European Union (EU) in
      AFP; PHOTO: REUTERS  -  635 words
    • Article
      Lock icon Philippines should strive for broad-based prosperity, says IMF
      552 22  -  By Anthony Rowley btworld@sph.com.sg Tokyo DESPITE recording strong economic growth in recent years, the Philippines has the potential to do even better and build a more inclusive, less impoverished society, particularly in the context of Asean economic integration, the International Monetary Fund
      552 words
    • Article, Illustration
      Lock icon China pushing for yuan to be added to IMF’s SDR basket
      740 22 BLOOMBERG Beijing YOU can’t buy a beer with it. You can’t trade in it. Yet, China’s push to win an arcane currency status bestowed by the International Monetary Fund is driving policy makers in Beijing to ease capital restrictions.
      BLOOMBERG; REUTERS FILE PHOTO  -  740 words
    • Article
      Lock icon China stimulus fuels banks’ profit growth
      594 23 Effects of protracted monetary easing are flowing through the economy, say banking analysts BLOOMBERG Shanghai CHINA’S ramped-up stimulus is fuelling optimism that the nation can tame a rising tide of bad debt and banks’ profits will rebound. Soured credit may start to grow more
      BLOOMBERG  -  594 words
  • Page 22 Advertisements
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      266 22 UBITECH HUB PTE. LTD. (Incorporated in the Republic of Singapore) (UEN/Company Registration No. *****1505H) Notice to holders of the S$143,000,000 4.20 per cent. Senior Secured Fixed Rate Bonds due 2017 (the “Bonds”) (ISIN: SG6V*****555) of Ubitech Hub Pte. Ltd. (The “Issuer”) NOTICE OF REDEMPTION Reference is made to the Bonds
      266 words
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      1499 23 The Business Times Ik 1 1 Toll free 1800-289-8822 I I Email noticesgsph.com. sg J V www.sphclass.com.sg/notices Company Address Head Office: 42 Avenue JF Kennedy, L-1855 Luxembourg. Tel: +352-243-0 Singapore Branch: 9 Raffles Place, #55-01 Republic Plaza, Singapore *****9. Tel: +65 6597 1600 Board of Directors The Board of Directors
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      827 23 Philippine National Bank and Subsidiaries N CONSOLIDATED STATEMENT OF CONSOLIDATED STATEMENT OF FINANCIAL POSITION INCOME As of December 31, 2014 with Comparative Figures for 2013 (In Thousand Pesos) LIABILITIES AND EQUITY LIABILITIES Deposit Liabilities Demand P101,561,040 P125,359,053 The Stockholders and the Board of Directors Philippine National Bank Report on the
      827 words
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  • OPINION
    • Article
      Lock icon Asean must take a strong and united stand on the Rohingya crisis
      552 24 THE grim discovery this week of mass graves near the Thai border in Malaysia has lent a poignant urgency to the 15-nation summit in Bangkok on Friday on the Rohingya crisis. EDITORIAL An emergency meeting in Kuala Lumpur
      552 words
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      Lock icon China’s way forward is clear but full of obstructions
      824 24  -  THE BOTTOM LINE By Robert Samuelson THE WASHINGTON POST WRITERS GROUP Washington IT’S time to worry about China. On any list of calamities threatening the world economy, a China crash ranks at or near the top. Just what would constitute a
      THE WASHINGTON POST WRITERS GROUP  -  824 words
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      Lock icon Clinton’s campaign gathers pace
      1399 24  -  Hers is a favoured name in the field, but will the scandals trip her up? And can she excite voters? By Leon Hadar IF one were to conduct an informal poll among members of the Washington press corps on which major presidential candidates they would like
      PHOTO: REUTERS  -  1,399 words
    • Article
      Lock icon Infrastructure investment needs to be a real asset class
      731 25  -  COMMENTARY By Franco Bassanini, Edoardo Reviglio OMFIF BRIEFING THE infrastructure sector faces major challenges. These include insufficient investment, partly due to fiscal consolidation, as well as shortcomings caused by poor project selection and planning, inefficient delivery, and persistent emphasis on building
      OMFIF BRIEFING  -  731 words
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      Lock icon Pan-El saga – A small problem that changed many things in S’pore
      2368 25  - Pan-El saga A small problem that changed many things in S’pore Because of Pan-El, regulation here changed, corporate governance stopped being a joke and senior people cooperated with each other. BY DAVID MASON other.BY DAVID MASON T The writer, a business communications consultant in the UK, was a Price Waterhouse
      FILE PHOTO  -  2,368 words
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      178 26 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE S>. 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 Spotlight Award Wins Recognition
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  • LIFE & CULTURE
    • Article
      Lock icon Broadway ends its highest grossing season
      958 27 40 Broadway theatres sell record US$1.365b worth of tickets in year that ended on Sunday NYT New York BUOYED by a rising stream of tourists, the unexpected popularity of an adolescent with Asperger’s syndrome, the star power of Larry David and Helen Mirren, and
      NYT  -  958 words
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      Lock icon The global reach of Australian coffee culture
      870 27 BLOOMBERG Sydney RAJ and Sharon Sidhu quit their steady public service jobs in Singapore last year to open a café in the city-state, one of Asia’s most competitive coffee-selling markets. For an edge, they spent a month learning the trade in Sydney. “That’s
      BLOOMBERG; PHOTO: BLOOMBERG  -  870 words
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      Lock icon Man’s best friend may soon dine at NY restaurants
      610 27 NYT New York NOT counting the city’s several million rats, which it is better not to think about, there is no more ubiquitous mammal in this city of concrete and steel than pet dogs. They fertilise the sidewalks. They ride the
      NYT; PHOTO: PIOTR REDLINSKI/NYT  -  610 words
  • Page 27 Miscellaneous
    • Miscellaneous
      Lock icon Page 27 Miscellaneous Column 1
      307 27 CRYPTIC CROSSWORD Across 4 Like some magazines including detailed art index (8) 8 Writer finding soldiers in sound condition (6) 9 Exercise? It is embraced by poet mostly for fitness (8) 10 Breakdown and what might resolve it? (8) 11 Influence unsettling camp hosted by Italian (6) 12 Note chap
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