The Business Times, 24 September 2015

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Microfilm: NL33614
Total Pages: 36
1 36 The Business Times
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  • Title Section
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    19 1 THE BUSINESS TIMES www.businesstimes.com.sg THURSDAY, SEPTEMBER 24, 2015 S$1 .00 MCI (P) O39/O8/2015 $11 A SINGAPORE PRESS HOLDINGS PUBLICATION
    19 words
  • Article, Illustration
    Lock icon Consumer prices down for 10th straight month
    662 1  -  Year on year, the 0.8 per cent contraction in August is the biggest since November 2009 By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore CONSUMER prices in Singapore declined for a 10th straight month in August, contracting 0.8 per cent from the figure a year
    Source: MTI, MAS  -  662 words
  • Article
    Lock icon China’s Sept flash factory PMI casts pall over global markets
    555 1 Reuters Beijing FLAGGING demand dragged China’s giant factory sector into its sharpest contraction in 61/2 years in September, a private survey showed on Wednesday, triggering a flight to safety in Asian markets that analysts say could extend across the globe.
    Reuters  -  555 words
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  • TOP STORIES
    • Article
      Lock icon SMRT fined a record S$5.4m for July train breakdown
      532 2  -  LTA says maintenance lapses caused the disruption, and SMRT is “fully responsible” By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore THE Land Transport Authority (LTA) has fined SMRT Corp S$5.4 million the largest penalty so far for the massive breakdown of its North-South
      532 words
    • Article, Illustration
      Lock icon US$40m investment fund for SMEs in Singapore and S Korea launched
      446 2  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore SINGAPORE and South Korea small and medium enterprises (SMEs) can tap a new US$40 million investment fund, following the signing of an MOU by Singapore’s Adval Capital and the South Korean government’s Korea
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    • MARKETS
      • Article
        Lock icon STOCKS
        58 2 HSTI 2,845.74 (-22.73) HSTI FUTURES 2,846.00 (-18.00) HSIMSCI 318.26 (-2.59) HSIMSCI FUTURES 317.70 (-2.10) STOCKS Wednesday Change KL COMP 1,613.17 -22.20 NIKKEI 225 CLOSED HANG SENG 21,302.91 -493.67 SET 1,375.17 -4.15 JAKARTA 4,244.43 -99.62 MANILA 6.926.91 -124.32 KOSPI 1,944.64 -37.42 SHENZHEN B 1,032.92 -11.72 MUMBAI IND 25,822.99 +171.15 10.15am
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.35 MALAYSIA 6.85 HONG KONG 5.00 INDONESIA 14.643 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.70 SWITZERLAND 0.50 INDIA 14.45 Source: Bloomberg
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      • Article
        Lock icon FOREX
        50 2 FOREX US$ S$ US$ (S$ per US$) 1.422 (US$/S$ per 1.534 2.181 EURO (US$/S$/€ 1.112 1.581 Foreign currency per US$ S$ YEN 120.20 84.50 RM 4.350 3.059 HK$ 7.750 5.450 BAHT 36.17 25.44 RUPIAH 14,643 10,298 RENMINBI 6.384 4.489 INDIAN RUPEE 65.94 46.37 A$ 1.420 0.999 NZ$ 1.597 1.123
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    • Article
      Lock icon Global selloff deepens as China flash PMI affirms slowdown fears
      688 3 It shows slowdown cited by the Fed in its decision to hold rates still has further to run Bloomberg Hong Kong THE selloff in riskier assets gained pace on Wednesday as a preliminary Chinese manufacturing gauge plunged to the lowest
      Bloomberg  -  688 words
    • Article, Illustration
      Lock icon Xi seeks to defuse all tensions with US, including cybercrime
      606 3 Bloomberg Washington CHINESE President Xi Jinping opened his US visit by seeking to ease concerns on almost every dispute between the two powers, even expressing readiness to cut a deal on one of the thorniest issues, cybersecurity. In a 35-minute
      Bloomberg; PHOTO: REUTERS  -  606 words
    • Article
      Lock icon Passenger car COE premiums fall
      346 4  -  Distributors say prospective buyers are still in wait-and-see mode, awaiting fall in premiums By Samuel Ee samuelee@sph.com.sg Singapore PASSENGER car certificate of entitlement (COE) premiums fell on Wednesday, amid what appears to be an industry-wide slump in demand for new vehicles. Nicholas Wong, the general
      346 words
    • Article, Illustration
      Lock icon S’pore’s consumer confidence dips a little in September
      301 4  -  More respondents expect bad economic times over the next year and longer term By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore CONSUMER confidence in Singapore retreated 0.9 point to 129.6 in September on increased concern about Singapore’s economy over the next five years, according
      Source: ANZ-Roy Morgan  -  301 words
    • Article
      Lock icon September BTO launch to be merged with November’s: MND
      454 5  -  Khaw: This will let more benefit from new housing policies; bumper crop of 7,000 BTO flats in six HDB towns to be offered By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THE Ministry of National Development (MND) has decided to delay the September
      454 words
    • Article
      Lock icon Lee Kuan Yew’s younger children seek all rights in oral history suit
      383 5  -  By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore THE two younger children of the late former prime minister Lee Kuan Yew are taking the government to court to seek all legal rights to transcripts of oral history interviews done with
      383 words
    • Article
      Lock icon Singapore GP to review security after lapse at Singapore Grand Prix
      330 5  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore SINGAPORE GP (SGP), race promoter of the Singapore Formula One Grand Prix, has set up an internal task force to review security at the Marina Bay street circuit after a spectator entered the
      330 words
    • Article, Illustration
      Lock icon IRAS tax revenue up 4.4% for FY14/15
      363 6  -  Of the S$43.4b collected, more than half comes from income tax, boosted by higher corporate profits and individual earnings By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore FOR its financial year 2014/15, the Inland Revenue Authority of Singapore (IRAS) collected S$43.4 billion in tax revenue,
      Source: Iras  -  363 words
    • Article, Illustration
      Lock icon Asian business sentiment crumbles on China shock
      658 6 Reuters Tokyo SENTIMENT at Asia’s biggest companies tumbled in the third quarter at a record pace due to growing worries about the economic slowdown in China and the risks it poses to the global outlook, a Thomson Reuters/INSEAD survey has shown. The Thomson
      Reuters; PHOTO: AFP  -  658 words
    • Article, Illustration
      Lock icon Fed delay could spur more debt issues to fund share buybacks
      993 7 US companies are on pace to announce US$897 billion in buybacks for the full year Reuters New York A RECORD year for debt-funded stock buybacks may soon become even more rewarding for shareholders. The Federal Reserve’s decision to delay
      Reuters; PHOTO:: AFP  -  993 words
    • Article, Illustration
      Lock icon With the new iPhone, Apple plans to make a direct connection to customer
      948 8 Bold move to bypass carriers may spark faster upgrades and accessory sales, say analysts AFP Washington IT’S not just another iPhone launch. This time, Apple is pushing not only a new device, but what it says is
      AFP; PHOTO: AFP  -  948 words
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      Lock icon Page 2 Advertisements Column 1
      37 2 CONTENTS NEWS Top Stories 2-8 Companies Markets 9-14 Stocks and Statistics 12-13 Real Estate 15-19 Househunt 19 Banking Finance 20 Energy Commodities 21 Technology 22 Consumer 23 Govt Economy 24-30 Transport 31-32 Opinion 34-35 Life Culture 36
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  • COMPANIES & MARKETS
    • Article
      Lock icon Penny probe CAD’s biggest ever: ex-director
      390 9  -  Complex case is also ‘first ever joint CAD-MAS investigation’, says Tan Boon Gin, now SGX’s chief regulatory officer By Kenneth Lim kenlim@sph.com.sg @KennethlimBT Singapore THE ongoing probe of the October 2013 penny stock collapse happens to be “the biggest securities fraud investigation” that the
      390 words
    • Article, Illustration
      Lock icon Many companies resilient to China’s slowdown: Moody’s
      834 9  -  BY Siow Li Sen |isen@sph.com.sg @SiowLiSenBT MOST of the non-Chinese, non-financial corporates that Moody’s Investors Services rates in Asia—Pacific can withstand the impact from China’s economic slowdown, supported by their businesses outside the country and existing financial cushions. These include Singapore—list—ed companies such
      FILE PHOTO  -  834 words
    • Article, Illustration
      Lock icon Has the tide turned for Tiger Airways?
      905 10  -  HOCK LOCK SIEW By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore OME analysts seem to think that budget carrier Tiger Airways has turned a corner, and are banking on it delivering a profit for FY16, after having suffered four consecutive years of full-year losses. It
      ST FILE PHOTO  -  905 words
    • Article
      Lock icon Putien to open Taipei outlet through JV with Taiwan’s Wowprime
      403 10  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore SINGAPORE restaurant Putien has started a joint venture with Taiwan-listed Wowprime Corporation to open a Putien restaurant in Taipei by the end of this year. This will mark Putien’s fifth overseas market, after Kuala
      403 words
    • Article
      Lock icon foodpanda acquires Singapore-Dine, expands food choices for delivery
      265 11 Singapore-Dine offers delivery from restaurants such as Tony Roma’s and Chili’s Singapore GLOBAL food delivery marketplace foodpanda has acquired Singapore-Dine, adding new restaurant offerings to its platform and an integrated delivery fleet. Founded in 2010, Singa-pore-Dine offers food delivery from Tony Roma’s,
      265 words
    • Article, Illustration
      Lock icon China’s richest stock traders yet to be convinced by Xi’s bullish message
      845 11 Bloomberg Shanghai CHINESE policy makers have a message: the stock market is stabilising. Their biggest challenge will be persuading the richest investors. As the boom turned to bust, the number of accounts holding shares worth more than 10
      Bloomberg; PHOTO: BLOOMBERG  -  845 words
    • Article
      Lock icon Temasek raises stake in ICBC to 10% in vote of confidence
      380 11 Bloomberg Singapore TEMASEK Holdings Pte, the biggest foreign investor in Chinese banks, has raised its stake in Industrial Commercial Bank of China Ltd to 10 per cent of the company’s Hong Kong-listed shares after a stock market rout drove
      Bloomberg  -  380 words
    • Article
      Lock icon STI STOCKS
      304 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 224 -1 227/223 271 213 6.5 5668.2 CapitaLand 277 -1 279/274 379 267 10.1 3.2 *****.5 CapitaMall Trust 189 -0.5 191.5/189 228 184.5 5.7 6559.1 CityDev 789 -5 794/782 1095 782 9.5
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    • Article
      Lock icon SGX ETFs Most Active
      110 12 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 290 -1 1291 291/287 355/287 289/290 IS MS INDIA US$ US676 +1 787 676/668 1000/648 676/678 84.5 UETF SSE50China 219 -2 102 223/217 340/151 217/219 68.4 Nikko AM STI ETF 293 -4 37 297/293
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    • Article
      Lock icon SIBOR
      28 12 Sep 23 1 mth 1.***** 2 mths 3 mths 1.***** 6 mths 1.***** 9 mths 12 mths 1.***** SWAP Offer rates 1 mth 1.***** Source: Thomson Reuters
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      787 12 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Sep 21 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Yamada Green Res 22-Sep-15 Sanwang In Buy 1400 0.08 *****5 36.95 *****5 37.12 Yamada Green Res 22-Sep-15
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 12 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 2 6 5 0 0 0 2 6 5 Manufacturing 41 36 31 3 8 10 44 44 41 Commerce 9 16 19 2 7 4 11 23 23 Tpt/Stor/Comms 8 16 9
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 12 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 27,135 27,135 93,838 93,838 Manufacturing 133,043 46,861 179,904 85,997 1,402 87,399 Commerce 89,663 52,838 142,501 77,732 7,527 85,259 Tpt/Stor/Comms 146,696 3,199 149,895 207,180 246 207,427 Finance 34,863 13 34,876 396,638 2 396,640 Construction 14,672 4,591
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 12 Sep 23 VALUE CLOSE BT OB/OS 46.00 -154.00 BT CADI -*****.00 -63.00 BT 10-day MA -*****.00 +4.00 FTSE ST Mid Cap 668.05 -2.32 FTSE ST Small Cap 409.17 +1.25 FTSE ST All Share 688.29 -4.06 FTSE ST China Top 168.07 -0.62 FTSE ST China 202.72 -1.58 FTSE
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    • Article
      Lock icon UNUSUAL ACTIVITY
      84 12 VOL CLOSE($) CHANGE Eastern 1,098.7 0.430 +0.130 +43.33 HL Global Ent 15.3 0.120 -0.045 -27.27 Nam Cheong 27,419.8 0.178 +0.021 +13.38 Vicplas Intl 180.0 0.086 +0.017 +24.64 Tung Lok Rest 200.0 0.115 +0.010 +9.52 China Yongsheng 32,550.1 0.019 -0.002 -9.52 Rowsley 47,534.8 0.161 +0.013 +8.78 Creative 20.2 1.070
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    • Article
      Lock icon COMMODITY FUTURES
      193 13 Sep-22 Price Net change change Last Trade Agricultural Sep-22 CBOT Soybeans (US cents/bu) 861.75 -12.50 -1.43% 13/11/2015 CBOT Soybean Oil (US cents/lb) 26.13 -0.37 -1.40% 14/10/2015 CBOT Wheat (US cents/bu) 495.50 -1.25 -0.25% 14/12/2015 Sep-22 LIFFE Cocoa (£/tonne) 2235.00 19.00 0.86% 14/12/2015 LIFFE Coffee (US$/tonne) 1511.00 -22.00 -1.44%
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    • Article
      Lock icon PALM OIL
      57 13 Sep 23 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Oct 15 2125.0 2157.0 2170.0 2120.0 305 5082 Nov 15 2162.0 2206.0 2214.0 2161.0 5940 ***** Dec 15 2189.0 2240.0 2248.0 2187.0 ***** ***** Jan 16 2225.0 2271.0
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    • STOCK MARKETS
      • Article, Illustration
        Lock icon Straits Times Index
        20 13 ytd change: -15.43% 52-week high: 3,539.95 on April 15,2015 52-week low: 2,841.94 on Sept 15,2015 Source: Bloomberg
        Source: Bloomberg  -  20 words
      • Article, Illustration
        Lock icon Hang Seng Index
        20 13 YTD change: -9.75% 52-week high: 28,442.75 on April 28,2015 52-week low: 20,583.52 on Sept 7,2015 Source: Bloomberg
        Source: Bloomberg  -  20 words
      • Article, Illustration
        Lock icon Shanghai Stock Exchange Composite
        21 13 YTD change: -3.67% 52-week high: 5,166.35 on June 12,2015 52-week low: 2,290.44 on Oct 27,2014 Source: Bloomberg
        Source: Bloomberg  -  21 words
      • Article, Illustration
        Lock icon Nikkei 225
        24 13 YTD change: +3.55% 52-week high: 20,868.03 on June 24,2015 52-week low: 14,532.51 on Oct 17,2014 (Chart shows Friday’s index closing) Source: Bloomberg
        Source: Bloomberg  -  24 words
      • Article, Illustration
        Lock icon Dow Jones Industrial Average
        27 13 YTD change: -8.37% 52-week high: 18,312.39 on May 19,2015 52-week low: 15,666.44 on Aug 25, 2015 (Chart shows Tuesday’s index closing) Source: Bloomberg
        Source: Bloomberg  -  27 words
    • Article
      Lock icon BONDS, WARRANTS, PREFERENCE SHARES
      202 13 Most active Sep 23 Prem Expiry Last Vol Conv Exer Disc Gear-Mths Company Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 2 0.2 ***** 1 18 13 KepCorp MB eCW*****1 8.8 -0.6 9445 0.2 780 5 FTSEChinaA50 9500 MBePW*****7 19.2 1.6 8785 0.0 --2 OCBC
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT’L INDICES
      373 13 In local curr In S$ In US$ dy yr dy yr dy yr Sep 22 Index Change Change Change Change Change Change World Preliminary 1216.7 -1.9 -4.6 -1.4 0.0 -2.0 -6.6 EAFE Preliminary 962.2 -2.0 -2.5 -1.8 0.1 -2.4 -6.6 Europe Preliminary 1334.7 -3.1 -3.4
      373 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      65 13 Sep 23 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 101.64 101.73 101.70 5-Year N*****0S 2.000 01-Jul-20 99.32 99.45 99.25 10-Year NX*****Z 2.375 01-Jun-25 97.38 97.57 97.15 15-Year NZ*****F 2.875 01-Sep-30 99 98.65 98.65 20-Year NZ*****V 3.375 01-Sep-33 105.67
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 13 Sep 23 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0007 1.0019 0.7039 0.7044 Canadian dollar 1.0706 1.0717 0.7535 0.7531 Euro 1.5808 1.5819 1.1120 1.1122 NZ dollar 0.8902 0.8911 0.6262 0.6265 Sterling pound 2.1800 2.1817 1.5335 1.5339
      155 words
    • Article, Illustration
      Lock icon Bounce in Dow futures helps trim ST Index’s loss
      570 14  -  STOCKS R Sivanithy sivan@sph.com.sg @RSivanithyBT Senior Correspondent THE Straits Times Index (STI) on Wednesday was hit by a combination of factors a 2.2 per cent loss in the Shanghai Composite after news that China’s purchasing managers’ index (PMI) has slumped to
      570 words
    • Article
      Lock icon GAINERS
      72 14 BY CENTS CLOSE UP 52w high/low DBXT S&P Short US$ 2283 49.8 1.6 2497/2104 DBS Bk 4.7% NCPS ***** 38.0 0.4 *****/***** Creative 107 21.5 25.1 220/85 SIA 1081 20.0 1.9 1291/957 Eastern 43 13.0 43.3 76/18.9 BY PERCENTAGE CLOSE UP 52w high/low Matex Intl 4 100.0 2.0 9/2
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    • Article
      Lock icon LOSERS
      78 14 BY CENTS CLOSE DOWN 52w high/low DBXT E50 US$ 4410 -491.9 -7.3 5300/4410 DBXT MSKorea US$ 4845 -150.7 -2.1 6246/4478 DBXT China50 US$ 2906 -139.3 -3.3 4258/2750 DBXT MSAsExJp US$ 3063 -115.1 -2.6 4064/2973 GLD US$ ***** -106.6 -0.7 *****/***** BY PERCENTAGE CLOSE DOWN 52w high/low Annica 0.2 -50.0
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    • Article
      Lock icon MOST ACTIVE
      34 14 VOLUME IHC 240,490,800 Noble 66,235,900 Healthway Med 63,336,300 StratechGroup 56,610,400 Rowsley 47,534,800 Market volume 1,583,824,000 VALUE DBS Grp 189,178,445 Singtel 104,644,711 OCBC Bank 86,936,610 UOB 80,374,405 Keppel Corp 46,979,128 Market value 1,246,145,000
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    • Article
      Lock icon Swiss Re increasing UK portfolio with £1.6b purchase of Guardian Holdings Europe
      372 14 Bloomberg Zurich SWISS Re’s business unit Admin Re is acquiring Guardian Holdings Europe Ltd from buyout firm Cinven for £1.6 billion (S$3.5 billion) to increase its portfolio of UK life-insurance policies. The deal will give Admin Re an
      Bloomberg  -  372 words
    • Corporate digest
      • Article
        Lock icon Noble Group
        58 14 NOBLE Group’s chairman Richard Elman has stepped down from the firm’s audit committee and its nominating committee, Noble said on Wednesday. Independent nonexecutive director Christopher Pratt has been appointed chairman of the remuneration and options committee, and Richard Margolis, another independent non-executive director, has been appointed chairman of
        58 words
      • Article
        Lock icon Artivision Technologies
        55 14 AN affiliated company of Artivision Technologies has signed a definitive agreement with Chinese Internet video firm Tudou to help the latter insert advertisements in its videos more effectively through its advanced video analysis technology. Both will share the advertising revenue generated from the advertisements based on an agreed
        55 words
      • Article
        Lock icon China Merchants Holdings
        66 14 CHINA Merchants Holdings (Pacific) has completed the acquisition of Guangxi Huatong Expressway, which owns the rights to operate the 39.5km Yangshuo-Pingle Expressway in Guangxi. This was one of three proposed acquisitions that China Merchants had announced in June, for a total purchase price of 3.04 billion yuan
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  • REAL ESTATE
    • Article
      Lock icon SEF Group’s prefab hub opens in Kaki Bukit
      726 15  -  Ten more such hubs to be operational by 2020, under govt’s push for use of precast components By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore IF you’re walking along a quiet lane near Bedok Reservoir in the wee hours and hear something go bump,
      726 words
    • Article
      Lock icon Chinese firm to invest in UK housing projects
      199 15 Reuters London A CHINESE firm plans to provide investment to launch three housing projects in northern England, Britain’s finance ministry said on Wednesday as finance minister George Osborne toured China to boost business ties. Hualing Industry and Trade Group, based in China’s
      Reuters  -  199 words
    • Article
      Lock icon Mortgage bonds take a hit in Russia too
      322 15 Bloomberg Moscow COUNT the mortgage-backed securities (MBS) market as another victim of Russia’s recession. VTB Group, the nation’s top organiser of the bonds, says issuance will slump 60 per cent this year to 100 billion rubles (S$2.1 billion) after the government wound
      Bloomberg  -  322 words
    • Article, Illustration
      Lock icon CDL, JBE in battle for EC buyers in Yishun
      594 16  -  CDL to start accepting e-applications for The Criterion, and JBE Holdings is to unveil prices for Signature By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore THE long-awaited contest for buyers between two adjacent executive condominium projects in Yishun St 51 is set to
      594 words
    • Article
      Lock icon Shanghai Zendai’s S African ‘city’ takes off
      314 16 Reuters Johannesburg CHINA’S Shanghai Zendai Property on Tuesday launched the first phase of an 87 billion rand (S$9 billion) new city project in South Africa, saying the slowdown in the world’s second-lar-gest economy would not affect construction. The local unit of the Hong
      Reuters  -  314 words
    • Article, Illustration
      Lock icon Raimon Land prices out speculators
      598 17 High deposits will ensure slower sales and higher selling prices over time, says CEO Bang kok Post Bangkok THAILAND’S Raimon Land, which is 24.98 per cent owned by Ezra Holdings’ group CEO and managing director Lionel Lee, will continue requiring high down payments in a
      Bangkok Post  -  598 words
    • Article
      Lock icon Aide to China billionaire developer admits to unlawful-activity funding
      437 17 Reuters New York THE right-hand man to a billionaire Chinese real estate developer arrested by US authorities for smuggling US$4.5 million into the country has admitted the money was used to pay people for “unlawful activities”, a federal prosecutor said. Jeff
      Reuters  -  437 words
    • Article
      Lock icon Indian developer fined 72.7b rupees for raising funds without approval
      279 17 Bloomberg Mumbai INDIA’S markets regulator imposed a penalty of 72.7 billion rupees (S$1.56 billion) on PACL Ltd for raising funds from the public without its approval. The Securities and Exchange Board of India (Sebi) directed the New Delhi-based real estate
      Bloomberg  -  279 words
    • Article, Illustration
      Lock icon How Frank Gehry became Frank Gehry
      1143 18 Renowned architect is depicted in biography not as a genius, but as talented and diligent work.Bloomberg New York EVEN if you can’t name a building by architect Frank Gehry, you’ll know it when you see it: his is the structure whose panoply of lines
      work.Bloomberg; PHOTOS: REUTERS  -  1,143 words
    • Article
      Lock icon Househunt
      953 19 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN AUG 12 AND AUG 18, 2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED Marina Bay Residences Apt 17/08/2015 99 *****00 4390 2683 One Shenton Apt 17/08/2015 99
      953 words
  • Page 15 Advertisements
    • Advertisement
      Lock icon Page 15 Advertisements Column 1
      28 15 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
    • Advertisement
      Lock icon Page 15 Advertisements Column 2
      50 15 Unique Conservation Shophouse CBD AREA FULL COMMERCIAL NO ABSD WB, For Sale by Owner (Eugene) 9753 2056 Rare Pagoda Street Shophouse Newly restored and renovated •Land: 1,486 sqft •Built-in: 4,316 sqft est. >3% Yield Prime location with heavy human traffic •Located right at the doorstep of Chinatown MRT •Agents welcome
      50 words
    • Advertisement
      Lock icon Page 15 Advertisements Column 3
      86 15 AUSTRALIAN PROPERTY FINANCE Have you recently bought an Australian property and need a loan to complete the transaction? Already own and want to ensure you have the best loan? CONTACT SPECIALIST MORTGAGE HERE IN SINGAPORE FOR A FREE IMPARTIAL REVIEW OF ALL YOUR OPTIONS. W: www.smats.net E: smats@smats.net T: 6293
      86 words
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon Wall St dollar bulls throwing in the towel
      590 20 Median estimate of US Dollar Index falls to lowest level since March Bloomberg New York SIX months after the dollar’s ascent faded, Wall Street is giving in. For a second straight quarter, the greenback is set to trail strategists’ projections. Morgan Stanley,
      Bloomberg; PHOTO: BLOOMBERG  -  590 words
    • Article, Illustration
      Lock icon Goldman Sachs chief reveals he has cancer
      530 20 NYT New York IT seemed to be no big deal when Gary Cohn, the president of Goldman Sachs, spoke at a panel event on Monday night. But Mr Cohn, who had just flown in from Singapore, was appearing on short notice. Unbeknown to
      NYT; PHOTO: REUTERS  -  530 words
  • Page 20 Advertisements
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      Lock icon Page 20 Advertisements Column 1
      110 20 GOOD CLASS BUNGALOW LAND FOR SALE HOLLAND PARK Brand New Land ***** sf Build Up ***** sf Contemporary tropical design Beautiful land Wide frontage Easy access, mins to Botanic Garden, Priced to sell OpenHouse SWISS CLUB ROAD Land ***** sf Beautiful elevated yet flat land Amazing view BELMONT ***** sf
      110 words
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Mining giant Vale bullish on China steel use
      481 21 Its view contrasts with a rising number of global banks which see demand, price dips Bloomberg Beijing VALE SA is pushing back against claims that steel consumption in China has peaked, saying demand in the world’s top user has some way to
      Bloomberg; PHOTO: REUTERS  -  481 words
    • Article
      Lock icon Baker Hughes sued over gas storage valves
      603 21 Bloomberg Houston BAKER Hughes Inc used the wrong kind of steel in safety valves installed in a US$2.5 billion German underground gas storage field, where ruptures last year rendered some caverns inoperable and threaten to make the entire facility worthless, according to a
      Bloomberg  -  603 words
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      Lock icon Petrobras: Oil prices unlikely to hit US$100 per barrel again
      178 21 Bloomberg Rio de Janeiro IT’S unlikely that oil prices will ever return to US$100 a barrel and Petroleo Brasileiro SA needs to work with suppliers to manage the price rout, an executive at the state-run oil producer said on Tuesday.
      Bloomberg  -  178 words
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  • TECHNOLOGY
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  • CONSUMER
    • Article, Illustration
      Lock icon Move over LVMH, here’s LFX!
      789 23 Hong Kong’s ritzy malls are being invaded by high-end mainland Chinese brand names Bloomberg Hong Kong HONG Kong! A shopping paradise for ritzy global brands lining the marble-clad malls: Gucci, Louis Vuitton, Tiffany, Lao Feng Xiang... Lao Feng Xiang? Little known outside mainland China, 167-year-old
      Bloomberg; PHOTO: BLOOMBERG  -  789 words
    • Article
      Lock icon McDonald’s cage-free egg pledge stings US farmers
      559 23 Move will also increase competition for an already limited supply of such eggs Reuters Winnipeg THIS mon t h s p l e d g e b y McDonald’s Corp to phase out eggs laid by caged hens in its North American restaurants
      Reuters  -  559 words
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Too early to decide on further stimulus: Draghi
      474 24 More evidence needed to see whether inflation target will fall short Reuters Frankfurt RISKS to Europe’s inflation and growth outlook have increased due to the emerging market slowdown but the European Central Bank needs more time before deciding on further stimulus, ECB
      Reuters  -  474 words
    • Article, Illustration
      Lock icon India ready to invest US$15b in Iran if it can secure gas deal
      432 24 Reu ters New Delhi INDIA is ready to invest more than US$15.2 billion to build projects in Iran including taking up full-scale development of Chabahar Port if Teheran offers better terms including cheaper gas, Shipping Minister Nitin
      Reuters; PHOTO: REUTERS  -  432 words
    • Article
      Lock icon 1MDB said to shortlist Nebras, CGN Meiya for power plant sale
      408 24 Bloomberg Kuala Lumpur 1MALAYSIA Development Bhd, the debt-ridden state investment company, has shortlisted bidders including Qatar’s Nebras Power QSC and Hong Kong-listed CGN Meiya Power Holdings Co for its energy asset sale, people familiar with the matter said. Saudi
      Bloomberg  -  408 words
    • Article
      Lock icon Citic suspected of insider trading: sources
      377 25 China probe finds evidence that it did so during the government’s stockmarket rescue Bloomberg Hong Kong A CHINESE probe found evidence that Citic Securities Co, the nation’s biggest brokerage, engaged in insider trading connected to the government’s rescue of the stock market, people familiar
      Bloomberg  -  377 words
    • Article
      Lock icon Citic suspected of insider trading: sources
      377 25 China probe finds evidence that it did so during the government’s stockmarket rescue Bloomberg Hong Kong A CHINESE probe found evidence that Citic Securities Co, the nation’s biggest brokerage, engaged in insider trading connected to the government’s rescue of the stock market, people familiar
      Bloomberg  -  377 words
    • Article, Illustration
      Lock icon New Tsipras govt takes oath of office, pledging to revive ailing economy
      673 25 AFP Athens THE new left-wing government of Greek Prime Minister Alexis Tsipras took office on Wednesday with a core of returning ministers pledging to restart the country’s flagging economy. Sending a signal to creditors, Mr Tsipras kept the
      AFP; PHOTO: AFP  -  673 words
    • Article, Illustration
      Lock icon New Tsipras govt takes oath of office, pledging to revive ailing economy
      673 25 AFP Athens THE new left-wing government of Greek Prime Minister Alexis Tsipras took office on Wednesday with a core of returning ministers pledging to restart the country’s flagging economy. Sending a signal to creditors, Mr Tsipras kept the
      AFP; PHOTO: AFP  -  673 words
    • Article, Illustration
      Lock icon Myanmar, Japan unveil huge industrial zone
      553 26 Thilawa Special Economic Zone is sited on the outskirts of Yangon AFP Yangon MYANMAR and Japanese dignitaries on Wednesday launched the first phase of a huge industrial zone on the outskirts of Yangon, as the long-isolated nation pushes to rapidly accelerate its industrialisation. Housing
      AFP; PHOTO: REUTERS  -  553 words
    • Article
      Lock icon Eurozone business growth slows in September
      333 26 Reuters Brussels EUROZONE business growth slowed this month as Asian demand weakened, leading to fewer new jobs and forcing factories to reduce output, even though companies raised prices for the first time in over four years, a survey showed on Wednesday. The slowdown came
      Reuters  -  333 words
    • Article
      Lock icon India’s central bank said to be cautious despite pressure for interest rate cuts
      590 26 Reuters Mumbai THOUGH the Reserve Bank of India (RBI) is expected to cut interest rates next week by a quarter per cent to a four-year low, officials say concern over prices makes it likely to resist political
      Reuters  -  590 words
    • Article, Illustration
      Lock icon Lagarde: weaker global growth complicates development goals
      412 27 Slowdown in China has more spillover effects in the region than was anticipated, she says Reuters Washington DOWNSIDE risks to global growth have increased and the weak economic outlook will make achieving world development goals more difficult than in the past, the head
      Reuters  -  412 words
    • Article
      Lock icon SEC wants funds, ETFs to better manage liquidity
      446 27 They must have plans to meet redemption demands in periods of market stress Reuters Washington MUTUAL funds and exchange-traded funds will be required to create new programmes to better manage their liquidity, under a plan put forth by US securities regulators on
      Reuters  -  446 words
    • Article
      Lock icon Japan minister says 2% inflation target may be pushed back
      384 27 Bloomberg Tokyo JAPAN’S target of achieving 2 per cent inflation by next September may be delayed as China’s economic slowdown affects the price of oil and other natural resources, according to Yasutoshi Nishimura, the nation’s deputy economy minister. China faces
      Bloomberg  -  384 words
    • Article, Illustration
      Lock icon US booksellers see a return to print
      1234 28 There are signs showing some e-book adopters are reading physical books or toggling between devices and paper NYT New York FIVE years ago, the book world was seized by collective panic over the uncertain future of print. As readers migrated to new digital
      NYT; PHOTO: ILANA PANICH-LINSMAN/THE NEW YORK TIMES  -  1,234 words
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      46 25 HOT PROPERTY LE WILKIE 3+1. 1205sf. P/furn. Pool. Near Dhoby Ghaut/ Little India/ Bugis MRT/ mall. $4.5K Immed RIVERGATE 4+1RM HIGH floor amazing view on MBS, 1797 sf. available immediate $9.3K APARTMENTS FOR RENT Check out these properties and more in The Straits Times Classified now!
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      46 25 HOT PROPERTY LE WILKIE 3+1. 1205sf. P/furn. Pool. Near Dhoby Ghaut/ Little India/ Bugis MRT/ mall. $4.5K Immed RIVERGATE 4+1RM HIGH floor amazing view on MBS, 1797 sf. available immediate $9.3K APARTMENTS FOR RENT Check out these properties and more in The Straits Times Classified now!
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      32 27 TIME TO HOP ONTO ANDHRA PRADESH BUS State’s CM Chandrababu Naidu woos Singapore investors Tribute to India’s Mr Cricket GET YOUR COPY TOMORROW TO ADVERTISE: CALL SHAN (*****861) KALWANT (*****327) NISHAL (*****438)
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  • EU MIGRANT CRISIS
    • Article, Illustration
      Lock icon Deepening divisions among EU members
      942 29 Planned distribution of asylum seekers sets right-wing nationalist/populist politicians against pan-European humanitarians NYT London THE European Union’s decision on Tuesday to distribute 120,000 asylum seekers among member states forced through by a majority vote over bitter objections from four eastern members underlined the bloc’s widening
      NYT; PHOTO: AFP  -  942 words
    • Article, Illustration
      Lock icon Hungary taps troops, prisoners, jobless to fence out migrants
      1127 30 PM Viktor Orban erects with ruthless efficiency a new wall along Balkan frontiers Reuters Sarok, Hungary BUILT in a matter of weeks by soldiers, prison labourers and cadres of the unemployed, a vast new wall along Balkan frontiers is a monument
      Reuters; PHOTO: REUTERS  -  1,127 words
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      22 29 SINGAPORE Winners Interview series Best Health Wellness Blog AWARDS PrisChew Hate running? Try my tips! *****6 0 j 0^)0 SCAN READ blog.omy.sg/sgblogawards
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  • TRANSPORT
    • Article
      Lock icon VW scandal dragging down Europe car stocks
      676 31 Options traders are preparing for more pain, sending the hedging costs of VW, BMW and Renault soaring Bloomberg London MONEY manager Michael Woischneck has been inundated with calls from charities, foundations and churches clients that prefer investing in socially responsible companies urging him
      Bloomberg  -  676 words
    • Article, Illustration
      Lock icon Volkswagen needs to explain away software to avoid criminal charges
      681 31 Reuters Washington VOLKSWAGEN AG will probably have to show that there was some legitimate reason to install software that led to false vehicle emissions tests if it is to avoid US criminal charges, lawyers said on Tuesday. The German carmaker
      Reuters; PHOTO: AFP  -  681 words
    • Article, Illustration
      Lock icon China to buy 300 jets and get a Boeing plant: report
      529 32 But it won’t be at the expense of American jobs, says CEO AFP Reuters Seattle US AEROSPACE giant Boeing has reached deals with Chinese firms to sell 300 aircraft and set up a completion centre in China, state media
      AFP; Reuters; PHOTO: AFP  -  529 words
    • Article, Illustration
      Lock icon Refugee crisis in Europe is hurting cruise-ship travel
      617 32 Bloomberg Los Angeles THE refugee crisis in Europe is having an impact on cruise-ship travel in the region, according to Arnold Donald, chief executive officer of Carnival Corp, the world’s largest cruise-line operator. Images of bodies washing ashore and refugees packed in
      Bloomberg; PHOTO: REUTERS  -  617 words
    • Article
      Lock icon SHIPPING TIMES
      760 33 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville APL Columbus V010E 23 May 06 Jun 22 Jun 26 Jun 29 Jun 01 Jul 03 Jul 06 Jul 08 Jul 10 Jul 10 Jul 15 Jul
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  • OPINION
    • Article, Illustration
      Lock icon Firms must embrace digital disruption
      1102 34 / 35  -  They must change their attitude and embark on the adventure of creative destruction destroy today to secure the future of their business tomorrow. By James Tay tomorrow.By James Tay The writer is CEO of Logicalis Asia ALIBABA’S chairman Jack Ma, in a speech to entrepreneurs
      ST FILE PHOTO  -  1,102 words
    • Article
      Lock icon New business opportunities for S’pore as Europe boosts private investment
      805 34 / 35  -  By Jyrki Katainen The writer is the European Commission vice-president for jobs, growth, investment and competitiveness DESPITE the challenges, Europe is growing again. The European Union economy is set to expand by 1.4 per cent this year and 1.7 per
      805 words
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon A taste of Navy SEALs training
      523 36  -  Luminox will soon debut its latest watch that it says is as tough as SEAL-style workouts By Cheah Ui-Hoon uihoon@sph.com.sg Singapore WATCH brands thrive on stories, and Luminox has a good one going with its 25-year history as a watch designed for the US
      523 words
    • Article, Illustration
      Lock icon Where Munch finally meets Van Gogh
      302 36 Reuters Amsterdam NORWAY’S Edvard Munch and Dutch master Vincent Van Gogh lived at the same time and both struggled to put their inner demons on canvas, but they never met in real life. A broad collection of their paintings, which greatly influenced modern 19thcentury
      Reuters; PHOTOS: REUTERS  -  302 words
  • Page 36 Miscellaneous
    • Miscellaneous
      Lock icon Page 36 Miscellaneous Column 1
      329 36 CRYPTIC CROSSWORD Across 1 High-flier up for trial? (4,5) 6 Self-satisfied son, sucker (4) 10 Dull ending of secret ceremony (5) 11 Supposing that, entering important round of cup (4-5) 12 Long and complicated procedure investing millions in capital function (9) 14 A wing that’s out of the way (5)
      329 words