The Business Times, 26 September 2015

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Microfilm: NL33614
Total Pages: 47
1 12 The Business Times
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      51 2 CONTENTS LIVING Living L2-4 Design L5 NEWS Top Stories 2-7 Raffles Conversation 8-9 Companies Markets 10-14 Real Estate 15-16 Banking Finance 17 Energy Commodities 18 Technology 19 Consumer 20 Transport 21 Govt Economy 22-25 Opinion 26-27 Wealth 28-30 Life Culture 31 Travel/Dining L6-7 BT Wine Challenge L8-9 Motoring L10-11 Sports
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  • TOP STORIES
    • MARKETS
      • Article
        Lock icon STOCKS
        59 2 HSTI 2,832.64 (-13.10) HSTI FUTURES 2,833.00 (-13.00) HSIMSCI 316.54 (-1.74) HSIMSCI FUTURES 316.30 (-1.40) STOCKS Friday Change KL COMP 1,615.01 +1.84 NIKKEI 225 17,880.51 +308.68 HANG SENG 21,186.32 +90.34 SET 1,376.83 +4.48 JAKARTA 4,209.44 -34.99 MANILA 6,917.55 -9.36 KOSPI 1,942.85 -4.25 SHENZHEN B 1,025.53 +0.71 MUMBAI IND 25,863.50 +40.51
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.35 MALAYSIA 6.85 HONG KONG 5.00 INDONESIA 14.758 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
        49 2 US$ S$ US$ (S$ per US$) 1.424 (US$/S$ per 1.521 2.167 EURO (US$/S$/€ 1.112 1.584 Foreign currency per US$ S$ YEN 120.80 84.80 RM 4.388 3.081 HK$ 7.750 5.441 BAHT 36.23 25.44 RUPIAH 14,686 10,311 RENMINBI 6.374 4.475 INDIAN RUPEE 66.14 46.44 A$ 1.427 1.002 NZ$ 1.582 1.111
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    • Article, Illustration
      Lock icon EU launches new fund to boost investment
      708 2  -  Asian investors can also participate in projects, says EC vice-president By Vikram Khanna vikram@sph.com.sg Singapore THE European Union (EU) has launched a new institution to kickstart flagging investment in the 28-member grouping. Called the European Fund for Strategic Investment (EFSI), the institution will
      PHOTO: AFP  -  708 words
    • Article
      Lock icon Competition unit seeks feedback on changes to guidelines
      423 3  -  It wants to streamline its merger assessment process, make its whistleblowing process more efficient By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore THE Competition Commission of Singapore (CCS), a statutory board tasked with investigating anti-competition activities, is consulting the public, including law firms, the
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    • Article
      Lock icon MyRepublic secures S$23m capital funding
      413 4  -  CEO says vision is to build a lean operator that can survive with 8% market share By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore MYREPUBLIC, which offers fibre broadband service and aspires to become Singapore’s fourth mobile operator, has attracted S$23 million in capital, including investments
      413 words
    • Article, Illustration
      Lock icon S’pore confronts four Indonesian firms and APP over haze
      587 4  -  Govt will also look into promoting green procurement By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THE Singapore government has served notices to four Indonesian companies as well as Asia Pulp Paper Company (APP) in Singapore for possible transgressions of the Transboundary Haze
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    • Article
      Lock icon ADB bumps up financing for war on climate change
      487 4  -  By Anthony Rowley btworld@sph.com.sg Tokyo THE Asian Development Bank (ADB) will double its annual contribution to spending on countering climate change to US$6 billion by 2020, its president Takehiko Nakao announced on Friday, the eve of a UN meeting in New
      487 words
    • Article, Illustration
      Lock icon Building a S’pore core in maritime workforce
      704 5  -  Maritime and Port Authority launches a slew of programmes aimed at just this By Tan Hwee Hwee hweetan@sph.com.sg @Hweetan–BT Singapore THE Maritime and Port Authority (MPA) of Singapore, in partnership with 13 industry bodies, is set to launch a series of initiatives to
      Source: MPA  -  704 words
    • Article
      Lock icon Japan’s economy slips back into deflation
      768 6  -  This prompts talk that BOJ could be forced to administer further stimulus soon By Anthony Rowley btworld@sph.com.sg Tokyo JAPAN’S economy slid back into mild deflation last month as core consumer prices suffered their first drop in more than two years, prompting market speculation that
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    • Article, Illustration
      Lock icon Obama, Xi lay out joint vision for global climate agreement
      656 6 US and China vow cooperation to shape new century Reuters Bloomberg Washington US President Barack Obama and Chinese President Xi Jinping outlined their common vision for a global climate change agreement on Friday, and announced new steps they will take
      Reuters; Bloomberg; PHOTO: REUTERS  -  656 words
    • Article, Illustration
      Lock icon Frasers Hospitality in talks with funds as it eyes Europe assets
      1204 7  -  Frasers Centrepoint Ltd’s hospitality arm also seeking distribution platform By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Frankfurt IN a bid to expedite growth, Frasers Hospitality is in talks with funds to scoop up targeted assets in Europe and has carved out
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    • Article
      Lock icon PAP group proposes Fort Canning memorial for founders
      377 7  -  It should highlight 50 years’ nation-building from 3rd to 1st World By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore AN advocacy group under the People’s Action Party (PAP) has called for a memorial park to be based in Fort Canning Park to honour Singapore’s
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      30 3 Credit Suisse n m Can she inherit your ambition as well as your wealth? Discover how Credit Suisse can help you plan your wealth for the next generation at credit-suisse.com/successionplanning
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  • Article, Illustration
    Lock icon India’s economic mandarin
    2438 8 / 9  -  Indian Finance Minister Arun Jaitley talks about his government’s economic approach and achievements. By Vikram Khanna vikram@sph.com. sg “I F people miss out on India now, they will be missing out on a lot,” said India’s Finance Minister Arun Jaitley, in answer to a question from the
    PHOTO: SHAWN TEO  -  2,438 words
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  • COMPANIES & MARKETS
    • Article
      Lock icon Global IPOs slump in Q3, but Q4 hopes up
      487 10  -  Number of offerings falls 55% to 192 from Q2 while funds raised drop 75% to US$17.9b By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore INITIAL public offerings (IPOs) dried up around the world in the third quarter of 2015 as market volatility spiked,
      487 words
    • Article, Illustration
      Lock icon Frasers Hospitality goes global on hotel residences
      544 10  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Frankfurt FRASERS Hospitality is scaling up its hotel-residences brand in both Europe and Asia-Pacific in view of strong global demand for its hybrid offering that combines the full range of hotel facilities with the flexibility and conveniences of
      544 words
    • Corporate digest
      • Article
        Lock icon China Aviation Oil
        109 10 Reuters CHINA Aviation Oil (CAO) is seeking up to 1.1 million barrels of jet fuel for loading in November, consistent with its usual volumes, a tender document showed. The company is seeking three cargoes of 240,000 to 300,000 barrels each, for loading over Nov 1 to 10,
        Reuters  -  109 words
      • Article
        Lock icon Tung Lok
        120 10 GIVING an update on a civil complaint filed against its Beijing subsidiary by China National Decoration (CND), Tung Lok Restaurants (2000) Ltd said CND has lodged an application to the Beijing Court to increase the late payment penalty it is seeking from two million yuan (S$446,000) to nine
        120 words
      • Article
        Lock icon Sunright
        179 10 SHARES in semiconductor firm Sunright on Friday closed trading five cents or 24 per cent up at S$0.26, ahead of its release of full-years results. For the fiscal year ended July 31, 2015 (FY2015), Sunright posted a net profit attributable to shareholders of S$3.15 million, against S$135,000 for FY2014.
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    • Article, Illustration
      Lock icon STI’s decline continues on China, US rate concerns
      558 11  -  STOCKS R Sivanithy sivan@sph.com.sg @RSivanithyBT Senior Correspondent THERE were four trading days in this holi-day-shortened week, three of which ended with the Straits Times Index in the red. The single rise was on Monday when the gain was a paltry two points,
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    • Article
      Lock icon GAINERS
      77 11 BY CENTS CLOSE UP 52w high/low GLD US$ ***** 205.1 1.3 *****/***** JMH USD 4826 132.4 2.0 6788/4502 DBXT E50 US$ 4500 128.2 2.0 5300/4410 IS ASIA HYG S$D 1489 51.0 3.5 1489/1343 Lyxor Nasdaq US$ 1684 41.3 1.8 1838/1495 BY PERCENTAGE CLOSE UP 52w high/low Novo 62.5 140.4
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    • Article
      Lock icon LOSERS
      78 11 BY CENTS CLOSE DOWN 52w high/low DBXT MSEurope US$ 5341 -408.7 -5.1 6300/5341 DBXT MSUSA US$ 4972 -143.8 -2.0 5573/4684 DBXT MSKorea US$ 4759 -122.5 -1.8 6246/4478 Jardine C&C 2796 -63.0 -2.2 4269.7/2670 SPDR DJIA US$ ***** -58.4 -0.3 *****/***** BY PERCENTAGE CLOSE DOWN 52w high/low Infinio 0.1 -50.0
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    • Article
      Lock icon MOST ACTIVE
      34 11 VOLUME IHC 186,994,800 Healthway Med 110,491,600 Noble 48,491,300 Singtel 45,333,900 StratechGroup 42,079,800 Market volume 1,531,609,000 VALUE Singtel 165,333,810 DBS Grp 139,990,189 OCBC Bank 64,430,934 UOB 53,419,074 Global Logistic 44,509,690 Market value 1,198,187,000
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    • Article
      Lock icon Bank of Singapore sees pressure on Asia’s small wealth firms
      297 11 Bloomberg Singapore BANK of Singapore Ltd, the private banking arm of South-east Asia’s second-largest lender, Oversea-Chinese Banking Corp (OCBC), sees further consolidation in the Asian wealth management sector, as business gravitates to the larger firms and smaller players find it
      Bloomberg  -  297 words
    • Article
      Lock icon Civmec eyeing slice of Australian submarine project
      366 11  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore AS THE contest to secure a huge Australian government contract to build the country’s next-gener-ation submarine fleet heats up among Japan, Germany and France, mainboard-listed heavy engineering firm Civmec said on Friday that it is gunning for
      366 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 230 +6 231/224 271 213 6.3 5820 CapitaLand 279 +2 281/275 379 267 10.2 3.2 *****.9 CapitaMall Trust 190.5 +1.5 192/189 228 184.5 5.7 6611.1 CityDev 790 +1 797/787 1095 782 9.5
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    • Article
      Lock icon SGX ETFs Most Active
      111 12 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 289 -1 461 290/287 355/287 288/289 IS MS INDIA US$ US680 +4 123 681/670 1000/648 679/680 85 Lyxor World US$ US159.6 -2.7 56 159.6/159.5 183.5/159 160.2/161.1 16 ABF SG Bond ETF 114.5 +0.5 38
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    • Article
      Lock icon SIBOR
      28 12 Sep 25 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
      791 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) S i2i Ltd 23-Sep-15 S Global Holdings Pte Ltd *Buy 14 0.77 3775 27.53 3789 27.63 S
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 12 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 5 4 0 0 0 5 5 4 Manufacturing 37 34 34 7 8 7 44 42 41 Commerce 19 20 14 5 7 3 24 27 17 Tpt/Stor/Comms 16 15 7
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 12 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 20,835 20,835 77,217 77,217 Manufacturing 146,275 60,479 206,754 87,854 3,027 90,881 Commerce 86,983 64,701 151,684 76,201 6,694 82,895 Tpt/Stor/Comms 156,212 72 156,284 273,686 6 273,692 Finance 24,375 5 24,380 285,098 1 285,099 Construction 12,876 4,288
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 12 Sep 25 VALUE CLOSE BT OB/OS -136.00 -182.00 BT CADI -*****.00 -10.00 BT 10-day MA -*****.00 -13.00 FTSE ST Mid Cap 667.77 -0.28 FTSE ST Small Cap 408.88 -0.29 FTSE ST All Share 686.62 -1.67 FTSE ST China Top 167.06 -1.01 FTSE ST China 202.05 -0.67 FTSE
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    • Article
      Lock icon UNUSUAL ACTIVITY
      81 12 VOL CLOSE($) CHANGE Novo 1,821.5 0.625 +0.365 +140.39 TTJ 1,945.0 0.370 +0.035 +10.45 Healthway Med 110,491.6 0.035 +0.008 +29.63 SBI Offshore 3,612.8 0.159 -0.035 -18.04 Sunright 100.1 0.260 +0.050 +23.81 Japan Foods 542.9 0.460 -0.030 -6.12 LCD Global Inv 104.1 0.230 -0.045 -16.36 Pavillon 282.2 0.060 -0.005 -7.69
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    • Article
      Lock icon COMMODITY FUTURES
      193 13 Sep-24 Price Net change change Last Trade Agricultural Sep-24 CBOT Soybeans (US cents/bu) 868.00 4.25 0.49% 13/11/2015 CBOT Soybean Oil (US cents/lb) 26.98 0.65 2.47% 14/10/2015 CBOT Wheat (US cents/bu) 497.25 -10.25 -2.02% 14/12/2015 Sep-24 LIFFE Cocoa (£/tonne) 2238.00 -15.00 -0.67% 14/12/2015 LIFFE Coffee (US$/tonne) 1566.00 26.00 1.69%
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    • Article
      Lock icon PALM OIL
      57 13 Sep 25 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Oct 15 2200.0 2259.0 2259.0 2200.0 190 2900 Nov 15 2261.0 2304.0 2308.0 2253.0 5041 ***** Dec 15 2299.0 2342.0 2345.0 2283.0 ***** ***** Jan 16 2322.0 2372.0
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    • Article
      Lock icon GOVERNMENT SECURITIES
      63 13 Sep 25 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 101.54 101.60 101.58 5-Year N*****0S 2.000 01-Jul-20 99.2 99.35 99.25 10-Year NX*****Z 2.375 01-Jun-25 97.24 97.30 97.28 15-Year NZ*****F 2.875 01-Sep-30 98.84 20-Year NZ*****V 3.375 01-Sep-33 105.54 30-Year NA*****N
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 13 Sep 25 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 0.9974 0.9983 0.7004 0.7008 Canadian dollar 1.0666 1.0673 0.7492 0.7490 Euro 1.5839 1.5848 1.1123 1.1125 NZ dollar 0.8998 0.9009 0.6319 0.6324 Sterling pound 2.1659 2.1672 1.5210 1.5214
      155 words
    • Article
      Lock icon BONDS, WARRANTS, PREFERENCE SHARES
      203 13 Sep 25 Most active Prem Expiry Last Vol Conv Exer Disc Gear-Mths Company Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 2.6 0.6 ***** 1 18 13 FTSEChinaA50 ***** MBeCW*****7 12.4 -0.9 8075 0.0 --2 KepCorp MB eCW*****1 8.1 -0.7 6115 0.2 780 5 DBS
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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 24 Index Change Change Change Change Change Change World Preliminary 1201.7 -1.4 -5.8 -1.0 -0.6 -1.1 -7.6 EAFE Preliminary 946.6 -1.7 -4.1 -0.8 -0.6 -0.9 -7.6 Europe Preliminary 1317.0 -1.8 -4.7
      373 words
    • STOCK MARKETS
      • Article, Illustration
        Lock icon Straits Times Index
        20 13 ytd change: -15.82% 52-week high: 3,539.95 on April 15,2015 52-week low: 2,832.64 on Sept 25,2015 Source: Bloomberg
        Source: Bloomberg  -  20 words
      • Article, Illustration
        Lock icon Hang Seng Index
        20 13 ytd change: -10.25% 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
        22 13 YTD change: -4.40% 52-week high: 5,166.35 on June 12, 2015 52-week low: 2,290.44 on Oct 27,2014 Source: Bloomberg
        Source: Bloomberg  -  22 words
      • Article, Illustration
        Lock icon Nikkei 225
        19 13 YTD change: +2.46% 52-week high: 20,868.03 on June 24,2015 52-week low: 14,532.51 on Oct 17,2014 Source: Bloomberg
        Source: Bloomberg  -  19 words
      • Article, Illustration
        Lock icon Dow Jones Industrial Average
        26 13 YTD change: -9.10% 52-week high: 18,312.39 on May 19,2015 52-week low: 15,666.44 on Aug 25,2015 (Chart shows Thursday’s index closing) Source: Bloomberg
        Source: Bloomberg  -  26 words
    • Article, Illustration
      Lock icon US firms quick at cutting deals with activists
      1000 14 Latest involves Sysco granting board seats to Trian Fund Reuters New York EARLY in August, a call came into Sysco Corp from Trian Fund Management LP, warning the food distributor that the activist hedge fund was about to disclose a large stake
      Reuters; PHOTO: BLOOMBERG  -  1,000 words
    • Article
      Lock icon Discounts in US Reits setting the stage for buyout spree
      593 14 Bloomberg New York GET ready for a wave of takeovers of US publicly traded landlords. Real estate investment trusts (Reits) are trading at an almost 15 per cent discount to what investors would pay for buildings individually, according to Green
      Bloomberg  -  593 words
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  • REAL ESTATE
    • Article, Illustration
      Lock icon HLH brings HDB-style homes to Cambodia
      564 15  -  Potential buyers must register their interest for the flat before being given queue numbers and assessed for eligibility By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore FOR its maiden foray into real estate in Cambodia, homegrown HLH Group is taking what is perhaps the most iconic
      564 words
    • Article, Illustration
      Lock icon GCB site in Cluny Hill area sold for S$21.52m
      396 15 A PLUM vacant freehold site of 15,097 sq ft in the Cluny Hill Good Class Bungalow Area is being sold for S$21.52 million or S$1,425 per square foot based on the land area. The property is being sold by Standard Chemical
      396 words
    • Article
      Lock icon Househunt
      1176 16 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN AUG 12 AND AUG 18, 2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED Marina Bay Residences Apt 17/08/2015 99 1636 4390 2683 One Shenton Apt 17/08/2015 99 581
      1,176 words
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      Lock icon Page 17 Advertisements Column 1
      110 17 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
  • BANKING & FINANCE
    • Article, Illustration
      Lock icon Thai banks suffer biggest default since 1997
      1017 17 Sahaviriya Steel reneges on 50b baht of loans following UK venture’s failure; this will knock earnings at top creditors Bloomberg Singapore TEESSIDE, a gritty steel making district in England’s north east, is almost as far removed as you can get from the steamy
      Bloomberg; PHOTO: BLOOMBERG  -  1,017 words
    • Article
      Lock icon Deutsche Bank to face US$190m tax fraud case
      203 17 Reuters New York DEUTSCHE Bank AG must face a US government lawsuit seeking to recoup more than US$190 million over an alleged tax fraud 15 years ago, after a federal judge on Thursday turned down the German bank’s request to dismiss the
      Reuters  -  203 words
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  • ENERGY & COMMODITIES
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      Lock icon Page 19 Advertisements Column 1
      50 19 HOT PROPERTY FIRE SALE! $5XXPSF only! Matlock Res. Bungalow. FH 6187sf. 4+1. Good investment. COTSWOLD CL. 3-STY Detach hse. FH, land 4435/ built up 4400sf, 6+1, 8 toilets, wet/ dry kitchen, well kept, neg! LANDED PROPERTIES FOR SALE Check out these properties and more in The Straits Times Classified now!
      50 words
  • TECHNOLOGY
    • Article, Illustration
      Lock icon Cyber ransom emerging as credible threat: Symantec
      787 19  -  Majority of threats are aimed at directly or indirectly making money from victims By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore BEING waylaid for extortion, robbery and even ransom are nightmares usually associated with unsafe neighbourhoods and lonely roads. These are places best avoided,
      787 words
    • Article
      Lock icon Apple CEO faces iPhone growth question
      469 19 Bloomberg San Francisco HOW many iPhones can Apple Inc sell? With the company hitting sales records with each annual release, that’s a question facing chief executive officer Tim Cook as the latest batch of handsets hits stores on Friday around the world. The latest
      Bloomberg  -  469 words
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  • CONSUMER
    • Article
      Lock icon Foxconn said to be nearing deal with Sharp
      420 20 Taipei-based firm has signed letter of intent to buy stake in Japanese company’s LCD business: sources Bloomberg Taipei FOXCONN Technology Group has signed a letter of intent to buy a stake in Sharp Corp’s liq-uid-crystal display (LCD) business in a deal that
      Bloomberg  -  420 words
    • Article, Illustration
      Lock icon Drug’s pricing proves a defining moment in modern healthcare
      944 20 WP Washington MARTIN Shkreli is healthcare’s Gordon Gekko, its wolf of Wall Street, the symbol of all that makes people uneasy about an industry that seeks to make money by selling treatments while vowing to care only about the well-be-ing of
      WP; PHOTO: BLOOMBERG  -  944 words
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  • TRANSPORT
    • Article, Illustration
      Lock icon Volkswagen pollution scandal may backfire on diesel
      761 21 Carmaker cheating on emissions test sharpens focus on the fuel’s risks AFP Paris GERMAN giant Volkswagen’s worldwide pollution cheating scandal threatens to backfire on diesel, the fuel that powers most new cars in Europe and is defended by manufacturers as a vital means
      AFP; PHOTO: BLOOMBERG  -  761 words
    • Article
      Lock icon Two Chinese suitors said to be keen on jet lessor AWAS
      344 21 Bloomberg Hong Kong AWAS Aviation Capital Ltd, the lessor being sold by buyout firm Terra Firma Capital Partners, has drawn interest from two Chinese suitors in an auction that could fetch more than US$5 billion, people familiar with the
      Bloomberg  -  344 words
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Q2 growth revised upwards on consumer spending, construction
      566 22 Fed’s view that US will overcome any fallout from cooling overseas markets gets boost LATEST US DATA Bloomberg Washington THE world’s largest economy expanded more than previously forecast in the second quarter, boosted by gains in consumer spending and construction that may
      Bloomberg; PHOTO: BLOOMBERG  -  566 words
    • Article
      Lock icon US to host meeting to wrap up TPP deal
      390 22 Reuters Washington THE United States has called ministers from the 12 nations negotiating a Pacific trade deal for a meeting from Sept 30 to Oct 1 in a bid to finish the pact, a key part of the US administration’s engagement
      Reuters  -  390 words
    • Article
      Lock icon Swiss start criminal proceedings against Fifa head
      338 22 Bloomberg London SWISS authorities opened criminal proceedings against Joseph “Sepp” Blatter, the president of soccer’s governing body, after searching his office and seizing data. Mr Blatter, who’s led the Zu-rich-based Fifa for 17 years, is accused of criminal mismanagement and misappropriation, the Swiss
      Bloomberg  -  338 words
    • Article, Illustration
      Lock icon Yellen ends speech on inflation abruptly
      669 23 Fed chief received medical attention for feeling dehydrated, says spokeswoman Reuters Amherst, Massachusetts FEDERAL Reserve chair Janet Yellen received medical attention on Thursday after coughing, pausing and struggling to finish a speech in which she said the US central bank was on track to
      Reuters; PHOTO: REUTERS  -  669 words
    • Article
      Lock icon China capital outflows hit record in August on yuan weakness
      592 23 Bloomberg Beijing MONEY is leaving China faster than ever, according to a Bloomberg gauge tracking capital flows. An estimated US$141.66 billion left China in August, exceeding the previous record of US$124.62 billion in July, data compiled by Bloomberg show. The
      Bloomberg  -  592 words
    • Article, Illustration
      Lock icon Malaysian firms fear rising ethnic chauvinism
      977 24  -  Some quarters flag the dangers of prolonged ethnic strife; trade minister calls for solutions By Pauline Ng bt wo rl d @s p h .co m .sg Kuala Lumpur MALAYSIA’S racial diversity has long been regarded by investors as one of its greatest if
      PHOTO: REUTERS  -  977 words
    • Article
      Lock icon Malaysian police arrest three over suspected terror plot
      340 24 AFP Kuala Lumpur MALAYSIAN authorities have arrested three people including a Syrian and an Indonesian national on suspicion of planning terror attacks against domestic and foreign targets, police and news reports said on Friday. The announcement came a day after the US
      AFP  -  340 words
    • Article, Illustration
      Lock icon US House Speaker Boehner to resign
      534 25 Decision comes as Congress faces government shutdown threat Bloomberg AFP Washington HOUSE Speaker John Boehner will resign from Congress at the end of October, lawmakers said, following repeated clashes with conservative members of his Republican conference including a potential government shutdown next week. Mr
      Bloomberg; AFP; PHOTO: AFP  -  534 words
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      28 23 SNGAPORE BUG AWARDS m a m sp m m Winners Interview series Blog BnisSIrew Hate running? Try my tips! *2 9086 f ■MMltflfl r'tV. S P: SCAN&READ blog.omy.sg/sgblogawards
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      89 25 C a <- E-PAPEH (POP) [i ik Blsi.nkss Tim ns 0 r. MAY AMI AO WITH TIIEIH SINKS?* TlMKShf wiinim r' Download the new Business Times apps for free. Download on the v anoroidappon App store H Google play Personalisation News, your way, with bookmarks and a customisable menu |=l{
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  • OPINION
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      Lock icon Living in the era of cheating software
      1307 26 / 27  -  In a world where more and more objects are run by software, we need to have better ways to catch cheaters. BY ZEYNEP TUFEKCI BY ZEYNEP TUFEKCI NYT FOR the past six years, Volkswagen has been advertising a lie: “top-notch clean diesel” cars
      NYT; PHOTO: BLOOMBERG  -  1,307 words
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      Lock icon How to deliver economic justice to the deprived lot?
      857 26 / 27  -  By Bala Shankar ~The writer is a director of NPS International School ONE of the subtle but defining trends in 21st century eco-politics is the advent of the concept of “economic justice”. The world is split into one for the haves
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Nine rules for investors to keep in mind
        1932 28 / 29  -  These will stand you in good stead as you negotiate the current weak and volatile global stock markets WEALTH INSIGHTS Shane Oliver AMP Capital ~The writer is head of investment strategy and chief economist, AMP Capital DUE to an obsession with Taylor
        Source: Global Financial Data, AMP Capital; PHOTO: AFP  -  1,932 words
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        Lock icon BROKERS'TAKE
        495 28 / 29  -  Compiled by Jamie Lee Genting Singapore Buy UOB-Kay Hian Research, Sept 25 Sept 25 close: S$0.73 Target price: S$1.01 WE continue to believe that despite the regional challenges which dampen visitation to Resorts World Sentosa (RWS), core Ebitda for Genting Singapore has bottomed out in Q2 2015. The company
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        Lock icon Putting money in water works
        1458 30 water ventures in the US have no lack of investors despite regulatory obstacles, wary customers and opposition from environmental groups NYT Cadiz, California GAZING out of a turboprop high above his company’s main asset 34,000 acres (13,760 ha) in the Mojave Desert with billions of
        NYT; PHOTO: REUTERS  -  1,458 words
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      302 31 CRYPTIC CROSSWORD Across 1 Hit and stumped round end of over (6) 4 Fought advance with daughter embracing darling (8) 9 Was first to admit slob was idle (6) 10 Terribly serious following new obsession (8) 12 Court’s central point overturned in court case (8) 13 One’s back having taken
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  • LIFE & CULTURE
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      Lock icon Pope Francis sees 2 sides of Washington
      597 31 He speaks to Congress, has lunch with the homeless AFP Washington POPE Francis tasted two extremes of Washington on Thursday, going from the pomp of a speech to Congress to the gut-punch of a meal for the homeless. In both venues, he was
      AFP; PHOTOS: AFP  -  597 words
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      Lock icon Celebrating SG50 in the right spirit
      272 31  -  By Avanti Nim avantin@sph.com.sg Singapore THREE prized single malt whiskies will be auctioned off, along with a specially crafted cabinet at “50 Years of Gold”, a private event hosted by the world’s third-largest premium spirits company Beam Suntory to celebrate the nation’s 50th birthday.
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      133 32 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE VALLÉE DE JOUX. FOR MILLENNIA A HARSH, UNYIELDING ENVIRONMENT; AND SINCE 1875 THE HOME OF AUDEMARS PIGUET, IN THE VILLAGE OF LE B R A S S U S T H E E A R LY WAT C H M
      133 words
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      60 1 LivingBTTHE BUSINESS TIMES WEEKEND SEPTEMBER 26-27, 2015 BREWING UP A STORM Homegrown brands are aficonados’ cup of tea L2-4 PHOTO: 1872 CLIPPER TEA COMPANY TRAVEL/DINING Green outing in Cameron Highlands L6-7 BT WINE CHALLENGE Making cool reds in the heat L8-9 DESIGN Thought-provoking Archifest 2015 L5 MOTORING Lexus’s new level
      60 words
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  • BT Living
    • LIVING
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        Lock icon Brewing up a storm
        2099 2 / 3  -  Move aside, fancy tea brands with astronomical prices. Homegrown tea upstarts are giving the big boys a run for their money as speciality tea brands satisfy the tastes of increasingly discerning tea lovers. By May Yip THERE may be an artisanal coffee shop on every other
        PHOTOS: 1872 CLIPPER TEA CO COLLABORATION TEA; PHOTO: JOHN HENG; PHOTOS: TEA TRADERS COMPANY, TEALY  -  2,099 words
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        Lock icon Tea tips
        192 4 THE head of 1872 Clipper Tea Co, Rehan Amarasuriya, shares his tea-shopping tips: 45To differentiate between a cup of premium tea from one that is not so premium, one must first taste a good quality cup of tea that can serve as a benchmark. Hence, I will advise
        192 words
    • DESIGN
      • Article, Illustration
        Lock icon Celebrating architecture
        837 5  -  Archifest returns with the theme ‘What Future?’ that hints of things to come. By Tay Suan Chiang By Tay Suan Chiang taysc@sph.com.sg @TaySuanChiangBT THERE are tours of Singapore, and then there are tours of Singapore. For tourists, this usually means the Marina Bay Sands, the Merlion and Gardens
        PHOTOS: ROBERT GREG SHAND ARCHITECTS, FCL, DP ARCHITECTS, ROYSTON TAN  -  837 words
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        Lock icon Friends with nature
        1245 6 / 7  -  A dedicated farmer in Cameron Highlands is making the locavore concept a reality for Singapore restaurants. BT Living finds out what it’s all about. By Rachel Loi By Rachel Loi @RachelLoiBT rachloi@sph.com.sg PICTURE this: an eight-hour journey on a highway. Passing lush countryside and winding uphill on
        PHOTO: LEISA TYLER; PHOTOS: RACHEL LOI; PHOTO: RACHEL LOI  -  1,245 words
    • BT WINE CHALLENGE 2015
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        Lock icon Making cool reds in the heat
        1489 8 / 9  -  The diversity of red wines in the Top 50 labels of the BT Wine Challenge 2015, in partnership with UBS, amply shows the skill of vineyard owners in planting and winemaking. By Chan Wai Xin By Chan Wai Xin THERE used to be a
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    • MOTORING
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        Lock icon SCOUT’S HONOUR
        541 10  -  The legendary Indian Scout has finally landed on our shores. By CY Chew HANDS up those who have heard of the Indian motorcycle brand in Singapore? Hmmm… not many it seems. Think big chrome bikes and the brand that first comes to mind is probably Harley Davidson. But
        541 words
      • Article, Illustration
        Lock icon A new level of luxury
        675 11  -  The Lexus RX may be sportier but its ride comfort is also improved. By Samuel Ee samuelee@sph.com.sg THE dependable SUV better known for its reliability and comfort gets a design and dynamic overhaul and it is impressive. he Lexus RX has been the Japanese luxury
        675 words
    • GOLF
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        Lock icon A really good Day on the greens
        1235 12  -  Jason Day has had a stunning 2015, rising to No 1 in the golfing world. By Justine Moss By Justine Moss THEY share not only the same primary initial of their first name, but have both etched their names into the golfing history
        PHOTO: AFP  -  1,235 words
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      135 2 / 3 Walk-in Wine Closet Nothing quite beats a walk-in closet to showcase your prized collection of wines complete with a climate-controlled system. Leading wine storage space specialist Vintec Cellar introduces Le Cavivision, a versatile walk-in cellar with a storage capacity of up to 600 bottles, and which can be easily assembled
      135 words
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      611 4 wine&dine with BTWeekend Peach Blossoms Marina Mandarin Singapore, Level 5 6 Raffles Boulevard Z6845-1118 Daily Dim Sum A La Carte Buffet Peach Blossoms restaurant rolls out all you can eat dim sum *lunch buffet with over 60 items to choose from. Speciality dishes include Pan-Fried Foie Gras with Smoked Duck
      611 words
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      192 6 / 7 A LAP OF LUXURY SECOND TO NONE Your quintessential getaway to New Zealand’s North Island rustic perfection 8D Travel North Island in Style Auckland Rotorua Hawke’s Bay Taupo Waitomo Matamata Highlights Return Airfare by Singapore Airlines Suites (A380) 2N Accommodation at 5★ Solitaire Lodge in Rotorua 1N Accommodation at 5★
      192 words
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      154 8 / 9 BT Wine Challenge 2015 Readers’ Contest picked every week to receive an exclusive invitation for two. There are a total of 15 readers who will stand a chance to win in this contest! NOW, wine lovers like you will get a chance to savour some of these award-winning labels, along
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      66 1 26-27 SEPTEMBER 2015 THE BUSINESS TIMES WEEKEND Miguel ANGEL uel JIMENEZ CAN YOU FOLLOW HIS STRETCHING ROUTINE? GOLF DIGEST RATES SINGAPORE’S COURSES WHY SERAPONG’S NO. 1 AGAIN S MURALI PETTERSEN WILL BE HAUNTED BY GOLF’S UNREALISTIC EXPECTATIONS OYSTER PERPETUAL DAY-DATE 36 ROLEX <€>• Cortinawatch CHINATOWN POINT, #01-08/09. TEL: 6702 0061
      66 words
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  • 26-27 SEPTEMBER 2015 | THE BUSINESS TIMES WEEKEND Swing
    • editor’s letter
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        Lock icon GREAT GAME WILL HAUNT PETTERSEN
        857 2  -  BY S. MURALI Golf apparently saw one of its worst displays of sportsmanship at the Solheim Cup last week. European team stalwart Suzann Pettersen (right) came under universal criticism for penalising her American opponents for accidentally picking up a 16-inch putt which had not been
        857 words
    • Article, Illustration
      Lock icon THE FORBIDDEN DANCE
      436 3  -  MIGUEL’S MOVES REALLY WORK BY RON KASPRISKE v I. ou gotta lm Jimenez for Y there.” 1L’s ha; at the array of 5; contortions he C]| L his “risque” pre—m routine. But when y 1' laughing at it, you 1| [0 try it, says Golf 1 Adviser
      photos by Walter looss Jr.  -  436 words
    • Singapore scene
      • Article, Illustration
        Lock icon SERAPONG SWEEP
        1557 4 / 5  -  IThe SENTOSA GOLF CLUB’S CHAMPIONSHIP LAYOUT COMES OUT TOPS IN ALL THE CATEGOR ES N THE BIENNIAL GOLF DIGEST COURSE RANKINGS FOR SINGAPORE 2015 S NGAPORE GOLF COURSE RANKINGS BY TAN JU KUANG 3 D15 SINGAPORE GOI. E SENTOSA GOLF CLU CATEGORIES IN THE BIE t may come
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        Lock icon PLAY SAFEFE
        532 6 / 7  -  DOCS’ ADVICE ON TREATMENT OF GOLFING INJURIES BY ARUL JOHN What are the most common injuries golfers face and why? Dr Dutton: Common injuries are: Knee injuries which may occur after twisting the knee while walking on uneven terrain or from the rotational force placed upon the knee
        tnp photo: Saranya Mahendran, photos courtesy of Audi, Tharm Sook Wai, SMG Medical Group  -  532 words
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        Lock icon COUPLE WIN MEXICO TRIP
        376 6 / 7  -  BY GODFREY ROBERT They went into the competition with no expectations. And that showed in the play-off when Atsushi Yoshimura and Ng Chiang Ling remained calm and composed as thy cinched victory and a place in the Audi quattro Cup 2015 World Final in Mexico from
        376 words
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        Lock icon ABEO ELECTRA BARE THEIR TEETH
        492 6 / 7 he Business heading for 4 teams, altho he Business Times Corporate League 2015 is heading for a Light finish among the L0p—fi\re teams, although Boustead are in the drivers seat. Early favourites Seagull Gayatri are feeling the pressure In The Business Times Corporate League 2015.
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      Lock icon HANDICAP YOUR ENTHUSIASM
      1743 8 / 9  -  GOOD PLAYERS, GOLF SHORTS AND RYDER CUP POMP MAKE LARRY DAVID SICK INTERVIEW BY BILL SCHEFT i? HAN D ENTHI SHANDICAP outhern California golf is ubiquitous in the television series “Curb Your Enthusiasm.” The weather is perfect, but a storm is always brewing when the lead character
      photos by Emily Shur  -  1,743 words
    • tried & tested
      • Article, Illustration
        Lock icon TAYLORMADE Ml – THE NEW SEXY IN GOLF
        346 10  - TAYLORMADE Ml THE NEW SEXY IN GOLF BY TAN JU KUANG Multi-material, multi-adjustable, multi-target audience those are the premises by which the Tay- lorMade M1 range of metalwoods (on in 2015 Tay- lorMade parlance, the “un-metalwood”) is based on. Launched this month in Singapore, the new M1 driver, fairway woods
        346 words
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        Lock icon MIXING IT UP WITH HIGH DESIGN
        178 10 If there’s one thing that can get your day started or end one on a good note, it would be great shower. Hansgrohe, that name synonymous with high performance, high style bath equipment, has introduced a couple of new lines that combine both form
        178 words
      • play it
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          Lock icon MASSAGE ON THE GO
          108 10 Ogawa has solved the problem of squeezing a massage session into your busy schedule with the Ogawa Viva Touch. This all-new device provides massage through the transmission of low frequency current that enables the muscle to contract and relax. This process enhances blood circulation and relieves
          photos courtesy of SLGA, TaylorMade, Hansgrohe, E’Collezione, Ogawa  -  108 words
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          Lock icon ACTION-INSPIRED TIMEPIECES
          99 10 If you are what you wear, then owners of BRM watches can count themselves as those who like a little action in their lives. The French brand specialises in lightweight timepieces that are designed with an adventurous flair. Cases of BRM watches are made from 3m-long bars of
          99 words
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          Lock icon JEN CONTINUES TO SHINE
          125 10 Jen Goh (left) continues to make a mark for herself as Singapore’s top amateur when she collected the top prize at the SLGA Amateur Open held in Sembawang Country Club last month. Her solid three-round total of 205 (71-64-70) came on the back of a sterling
          125 words
    • Article, Illustration
      Lock icon Is IT OK TO ASK YOUR OPPONENT WHAT CLUB HE JUST USED?
      610 11 5" W. 15- if V‘. Q‘ T >UR OPPQNENT —|AT CLUB o you know when the help you receive violates the rules? Take this quiz to find out. DIS LEGAL ADVICE DECI E WHETHER EACH SCENARIO IS PERMISSIBLE:
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      Lock icon A FIRST-TEE MEDITATION FOR BUSINESS GOLF
      391 11  -  GOLFBY MIKE STACHURA Gosh, feels good to be out of the office. Restores a flagging spirit. You breathe a little better, feel a little lighter. Well, some of us do... What was that lunch, a bacon burger with cheese fries? Did Bob’s heart attack
      Illustrations by Asaf Manuka, Brian Cronin  -  391 words
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      96 8 / 9 cup2015& The Integration Cup is back with a new name... tabla! cup 2015 is going to be bigger and better... and the game will end with a gala Deepavali dinner Hole-in-one prize Audi A8 Attractive goodie bag Lots of lucky draw prizes champion be Vie the to or Women’sdivisions in
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      29 12 OYSTER PERPETUAL DATEJUST 31 ROLEX <€>• cortinawatch CHINATOWN POINT, #01-08/09. TEL: 6702 0061 PARAGON, #01-13. TEL: 6235 0084 RAFFLES CITY, #OI-36A. TEL: 6339 9185 WATCH FEATURED SUBJECT TO STOCK AVAILABILITY
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