The Business Times, 25 March 2016

Lock icon This issue may only be viewed from the multimedia stations at NLB Libraries. See FAQ for more information.

Microfilm: NL33803
Total Pages: 41
1 44 The Business Times
Page thumbnail Page 1
  • Title Section
    Lock icon Masthead
    13 1 THE BUSINESS TIMES www. usinesstimes.com.sg FRIDAY, MARCH 25, 2016 S$1.20 MCI (P) 039/08/2015
    13 words
  • Article
    Lock icon Singapore manufacturing shrinks
    40 1 WEAK SHOW THE February drop of 4.7 per cent year on year is bigger than expected, given street estimates of just 1.5 per cent, but it would have been worse were it not for biomedical output. 14
    40 words
  • Article
    Lock icon Mitsubishi to post first net loss
    39 1 UNDER WATER THE Japanese trading company, like its peers, is caught off guard by steep falls in the prices of goods from oil to iron ore as China’s economic growth has slowed. 15
    39 words
  • Article
    Lock icon Swiss banks stung by new worry
    35 1 FRESH BLOW AT the request of US authorities, Switzerland agrees to turn over records from at least 18 banks involving Venezuela’s state oil company, Petroleos de Venezuela SA. 21
    35 words
  • Article
    Lock icon KL banks fined RM70m by BNM
    27 1 CENTRAL CLOUT THE bulk of that comes from the RM54 million imposed on Ambank for non-compliance with anti-money laundering laws. 28
    27 words
  • Article, Illustration
    Lock icon Budget casts eye on the future, takes pulse of the present
    898 1  -  Included are S$4.5b programme for restructuring, measures to address short-term pressures By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore Singapore MAKING his first Budget speech as Finance Minister, Heng Swee Keat announced a S$4.5 billion economic programme to integrate Singapore’s restructuring
    PHOTO: THE STRAITS TIMES; PHOTO: MARK CHEONG/ THE STRAITS TIMES  -  898 words
  • Page 1 Advertisements
    • Advertisement
      Lock icon Page 1 Advertisements Column 1
      35 1 SEVERE STRESS Wither the old banking models? 30-31 GAS BUSINESS PTTEP ties up with parent to diversify revenue stream 24 ART BASEL HK What collectors are buying at Asia’s premier art fair BT LIFESTYLE 41-43
      35 words
    • Advertisement
      Lock icon Page 1 Advertisements Column 2
      52 1 HOCK LOCK SIEW Keep p2p lending afloat with tailored regulations 18 MORE REPORTS Editorial: A bespoke approach to transformation 2 BT Infographics: Ready, aim, future 3 Transforming the economy 4-5 Business focus 6 Property 8 Community support 9 Balancing the books 10-11 Commentary: A value creation focus 12 Commentary: Counter-cyclical
      52 words
    • Advertisement
      Lock icon Page 1 Advertisements Column 3
      2 1 *****1 *****1
      2 words
Page thumbnail Page 2
  • BUDGET 2016
    • Article
      Lock icon A bespoke approach to transformation
      899 2 EDITORIAL IN his maiden Budget that he presented to Parliament on Thursday, Finance Minister Heng Swee Keat managed to pull off something of a coup. He increased spending by 7.3 per cent, did not introduce any significant new taxes neither direct nor indirect and yet
      899 words
    • Article, Illustration
      Lock icon Ready, aim, future
      51 3 Budget 2016 focused on preparing Singapore for a new economy, saving its biggest bullets for encouraging innovation, offering targeted help for those most affected by the current economic downturn and providing support for the vulnerable members of society. Photo: Mark Cheong, ST BT Graphics: Kenneth Lim, Gareth
      Photo: Mark Cheong, ST; BT Graphics: Kenneth Lim, Gareth Chung  -  51 words
    • Article
      Lock icon S$4.5b gameplan to create new value, drive growth
      438 4  -  Firms will get aid with adoption of technology and innovation TRANSFORMING THE ECONOMY By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT TO TAKE Singapore into the next phase of its development, a S$4.5 billion Industry Transformation Programme will be rolled out to help firms and
      438 words
    • Article
      Lock icon National Trade Platform to help SMEs cut costs
      375 4  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT THE government will develop a National Trade Platform (NTP) to help businesses in the logistics and trade-finance sectors, many of which are small and medi-um-sized enterprises (SMEs). Finance minister Heng Swee Keat said the system will
      375 words
    • Article
      Lock icon One-stop portal for business grants by Q4
      243 4  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT A ONE-STOP Business Grants Portal will be launched in the fourth quarter of this year to make it easier for small and medium enterprises (SMEs) to tap the various schemes offered by the various government agencies. This comes
      243 words
    • Article
      Lock icon Public officers to be seconded to trade groups to understand SME needs
      398 4  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT PUBLIC officers will be seconded to trade associations and chambers (TAC) to increase their understanding of the needs of different sectors, said Heng Swee Keat, Minister for Finance. Also, more funding of
      398 words
    • Article
      Lock icon Robotics, startups primed for leg-up
      482 5  -  Robotics helps in a tight labour market: Heng TRANSFORMING THE ECONOMY By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT SINGAPORE’S robotics and innovation ambitions are getting a massive boost, with Budget 2016 putting innovation centre-stage and offering more targeted support for vogue sectors. A sum of S$450 million
      482 words
    • Article
      Lock icon More support for firms to scale up, go overseas
      337 5  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT MORE support will be provided to companies looking to scale up, through tax breaks and dol-lar-matching on investments. The SME mezzanine growth fund will be expanded to up to S$150 million, compared to the current size
      337 words
    • Article
      Lock icon More government help for job-seekers
      342 5  -  HELP FOR WORKERS By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT THE government will expand and launch new schemes under the SkillsFuture manpower development plan to help laid-off and other out-of-work workers to upskill and find jobs, Finance Minister Heng Swee Keat said on Thursday. “To support
      342 words
    • Article
      Lock icon Higher Workfare payouts for older, low-wage workers
      460 5  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT BOTH the low-income and the disabled in Singapore will get more government support as they do their jobs, said Finance Minister Heng Swee Keat in parliament on Thursday. The Workfare Income Supplement (WIS) and the Workfare Training Support
      460 words
    • Article
      Lock icon Mixed reactions to steps to control business costs
      608 6  -  Thumbs down for higher CIT rebate, SME working capital loan hailed BUSINESS FOCUS By Mindy Tan tanmindy@sph.com.sg @MindyTanBT THE proposal to raise the existing corporate income tax (CIT) rebate, with a higher percentage rebate targeted at SMEs, has received a lacklustre response
      608 words
    • Article
      Lock icon PIC to be scrapped after YA2018
      267 6  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT MARKET watchers were largely approving of the government’s decision to retire the Productivity and Innovation Credit (PIC) scheme after the current extension lapses, as part of its shift from more broad-based support to more targeted measures. Indeed, while the
      267 words
    • Article
      Lock icon Big let-down for building, services as levies go up as planned
      453 6  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT THE decision to proceed with the levy increases for work permit holders in the construction and services sectors has taken both industries by surprise, as they had held out for a deferral in the
      453 words
    • Article
      Lock icon Innovation district to be created in Jurong
      552 8  -  Industry players say govt has “Silicon Valley” aspirations for Jurong; district will house learning, research, innovation, production activities PROPERTY By Lee Meixian leemx@sph.com.sg @LeeMeixianBT THE government on Thursday launched a “next-generation” industrial park of the future called the Jurong Innovation District (JID), in
      552 words
    • Article
      Lock icon Total personal income tax reliefs to be capped at S$80,000
      704 8  -  TAX CHANGES By Michelle Quah michquah@sph.com.sg @MichelleQuahBT PEOPLE claiming personal income tax reliefs will soon be limited in the quantum they can get. The government will introduce a cap of S$80,000 on the total amount of personal income tax relief
      704 words
    • Article
      Lock icon Govt says it again: Too early to lift cooling measures
      284 8  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT AS expected, the government again made clear that it is too early to relax property cooling measures. Heng Swee Keat, Minister for Finance, said in his Budget speech: “Some have asked about the range of
      284 words
    • Article
      Lock icon Perks to boost volunteerism
      264 8  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT A NEW initiative to incentivise companies to send their staff for volunteer work will be piloted this July, with firms able to get a 250 per cent tax deduction on associated costs incurred. Under this Business and IPC (Institution of a
      264 words
    • Article
      Lock icon S$280m in GST cash vouchers to benefit 1.4 million citizens
      484 9  -  Low-income households to get one-off payment to cope with tough times COMMUNITY SUPPORT By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT THE government will give a one-off Goods and Services Tax (GST) cash voucher to low-in-come households to help them cope with the
      484 words
    • Article, Illustration
      Lock icon Pro-family moves include new child development grant
      522 9  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT FAMILIES with children will receive government support through various new measures announced in Budget 2016. The moves meant to make Singapore a better place to raise a family include a new child development account (CDA) first step grant
      PHOTO: YEN MENG JIIN  -  522 words
    • Article
      Lock icon Govt wants S’pore to be model for successful ageing
      348 9  -  By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT THE government will give more retirement support to needy seniors and build a strong community network to develop a model for successful ageing in Singapore, said Finance Minister Heng Swee Keat. The retirement help will
      348 words
    • Article, Illustration
      Lock icon NIRC swells to swing FY16 position to surplus of S$3.45b
      632 10  -  Temasek contribution comes as government tackles short and medium-term challenges BALANCING THE BOOKS By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT NET returns from investments are boosting the Singapore government’s efforts in lifting the economy out of challenging growth conditions. Net investment returns
      FILE PHOTO  -  632 words
    • Article
      Lock icon Govt deficit in FY15 narrows to S$4.9b
      407 10  -  By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT THE government’s budgetary estimates for fiscal year 2015 were almost spot-on, but smaller-than-expected transfers doled out for productivity helped narrow the deficit last year to S$4.88 billion. A revised account book for fiscal year 2015 was unveiled on
      407 words
    • Article, Illustration
      Lock icon Balancing the books
      83 11  -  The new term of government in its first year has projected its income and spending for FY2016, and is looking at a surplus of S$3.5 billion. See where the money will come from, where it will go to, and other budgetary tidbits for you to chew on.
      Source: Ministry of Finance; BT Graphics: Lynette Neo, Sarah Loyola  -  83 words
    • Article
      Lock icon A value creation focus
      830 12  -  COMMENTARY By Tay Hong Beng, Harvey Koenig ~The writers are respectively head of tax and head of Asean incentives advisory at KPMG in Singapore LAYING the foundation in Singapore’s continued push for economic transformation, this year’s Budget stayed on the steady course of steering the country
      830 words
    • Article
      Lock icon A much-needed cushion to help businesses and society
      968 12  -  COMMENTARY By Selena Ling ~The writer is head of treasury research strategy at OCBC Bank IT’S as simple as ABC really. In his maiden Budget speech, Finance Minister Heng Swee Keat painted a tapestry of collective partnership to strengthen our enterprises, nurture
      968 words
    • Article
      Lock icon Counter-cyclical & considered
      874 13  - Counter-cyclical considered COMMENTARY By Vishnu Varathan ~The writer is a senior economist at Mizuho Bank FINANCE Minister Heng Swee Keat’s maiden Budget managed to stay true to the spirit of being “prudent” without disregarding a counter-cycli-cal expansionary stance required to buffer or at least avoid unnecessary collateral damage from global
      874 words
    • Article
      Lock icon How SMEs can fight uncertain economic conditions
      781 13  -  COMMENTARY By Daniel Ho, Yap Hsien Yew ~The writers are respectively tax partner and tax senior manager at Deloitte Singapore BEING an open economy depending heavily on trade, Singapore is now facing considerable challenges ahead. With the continued slowdown in the major markets,
      781 words
Page thumbnail Page 3
Page thumbnail Page 4
Page thumbnail Page 5
Page thumbnail Page 6
Page thumbnail Page 7
  • Page 7 Advertisements
    • Advertisement
      Lock icon Page 7 Advertisements Column 1
      143 7 Creating Value. For Smart Future. Singapore Budget 2016 Thursday, 31 March 2016 9am-4pm *-8 ,T? "m mwm* r ;r' IA H *9 PwC tax specialists will analyse the implications of the Budget Statement for individuals and the business community, and share their perspectives on it. The seminar will include panel
      143 words
Page thumbnail Page 8
Page thumbnail Page 9
Page thumbnail Page 10
Page thumbnail Page 11
Page thumbnail Page 12
Page thumbnail Page 13
Page thumbnail Page 14
  • TOP STORIES
    • Article
      Lock icon Singapore Feb manufacturing output shrinks by more than expected 4.7%
      464 14  -  Month-on-month, output is down 4.8%, also worse than forecasts of 0.7% dip By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore SINGAPORE’S manufacturing activity in February posted a larg-er-than-expected contraction of 4.7 per cent year on year, versus street estimates of a 1.5
      464 words
    • Article, Illustration
      Lock icon Consistel unit confirms 4th telco ambitions
      551 14  -  By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore CONSISTEL subsidiary OMGtel formally announced on Thursday that it was in the race to become Singapore’s fourth telco. It thus joins fibre broadband services provider MyRepublic as the two companies which have formally announced their interest in
      551 words
    • Article
      Lock icon China brokerage said to be in talks to buy into CIMB Securities
      482 14  -  CIMB Group CEO says it is open to strategic investor who can bring value By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore CIMB is in talks to potentially sell at least part of its brokerage in Singapore to a Chinese
      482 words
Page thumbnail Page 15
  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Window-dressing may creep in next week
      524 15  -  STOCKS R Sivanithy sivan@sph.com.sg @RSivanithyBT Senior Correspondent A SLUMP in oil prices and overnight weakness on Wall Street made for a weak Thursday for the local stock market. The Straits Times Index (STI) fell 34.59 points or 1.2 per cent to 2,847.39. There were
      524 words
    • Article
      Lock icon Mitsubishi to post first annual loss on huge commodity writedowns
      395 15 Reuters Tokyo JAPANESE trading company Mitsubishi Corp will post its first ever annual loss for the year to March 31, it said on Thursday, hurt by huge writedowns from a slump in commodities. Along with its domestic rivals and major
      Reuters  -  395 words
    • Article
      Lock icon GAINERS
      72 15 BY CENTS CLOSE UP 52w high/low DBXT Nifty US$ ***** 276.7 1.7 *****/***** DBXT Vietnam US$ 2210 31.5 1.1 2786/2017 DBXT S&PShort US$ 2132 16.4 0.6 2393/2086 M1 270 11.0 4.2 396/219 Select Grp 53 10.5 24.7 53/34.5 BY PERCENTAGE CLOSE UP 52w high/low Huan Hsin 0.8 60.0 0.3
      72 words
    • Article
      Lock icon LOSERS
      77 15 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -252.1 -1.6 *****/***** SPDR S&P500 US$ ***** -149.3 -0.5 *****/***** DBXT MSEurope US$ 5191 -132.9 -1.8 6300/4770 DBXT ASX200 US$ 3382 -117.8 -2.5 3908/2900 DBXT MSJAP US$ 4551 -86.3 -1.4 5277/4031 BY PERCENTAGE CLOSE DOWN 52w high/low Blumont 0.1 -50.0
      77 words
    • Article
      Lock icon MOST ACTIVE
      36 15 VOLUME OKH Global 368,018,900 Ezra 91,131,800 Magnus Energy 85,542,100 Noble 83,911,400 Rex Intl 81,492,800 Market volume 2,175,319,000 VALUE DBS Grp 100,494,440 UOB 81,045,859 OCBC Bank 79,234,307 Singtel 58,979,968 Keppel Corp 58,481,475 Market value 1,208,954,000
      36 words
    • Article
      Lock icon Premier Foods says Japan’s Nissin to take 17% stake
      234 15 Bloomberg London PREMIER Foods Plc, seeking to fend off an unsolicited takeover bid by US spice processor McCormick Co, said on Thursday that Japanese instant noodle purveyor Nissin Foods Holding Co has agreed to buy a 17 per cent stake. Premier
      Bloomberg  -  234 words
    • Article
      Lock icon STI STOCKS
      315 16 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 241 -4 244/240 271 209 6.1 6330.4 CapitaCom Trust 146.5 -1 148.5/146 179 122.5 5.9 4329.5 CapitaLand 309 cd -5 313/305 379 267 12.4 2.9 *****.4 CapitaMall Trust 214 -3 217/214 228
      315 words
    • Article
      Lock icon SGX ETFs Most Active
      107 16 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS INDIA US$ US660 +2 1037 662/657 819/575 658/661 82.5 STI ETF 285 -4 624 289/284 355/254 284/285 DBXT MSINDO us$ US1279 -16 62 1286/1279 1492/911 DBXT MSAXJHDY US$ US150.4 -1.3 60 150.6/150.4 198.6/131.7 -/-8.4
      107 words
    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      810 16 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Mar 21 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Fragrance Grp 23-Mar-16 Koh Wee Meng Buy 63 0.18 *****37 74.43 *****00 74.44 Fragrance Grp 23-Mar-16 Lim
      810 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 16 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 9 1 0 1 0 4 10 1 Manufacturing 31 48 29 8 12 7 39 60 36 Commerce 14 23 10 2 3 6 16 26 16 Tpt/Stor/Comms 11 19 5
      186 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 16 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 24,001 2,908 26,909 93,716 660 94,376 Manufacturing 129,467 47,158 176,625 107,013 2,907 109,920 Commerce 181,362 64,120 245,482 107,790 3,019 110,809 Tpt/Stor/Comms 165,431 622 166,053 161,052 51 161,103 Finance 29,084 10 29,094 289,786 1 289,787 Construction
      123 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      76 16 Mar 24 VALUE CLOSE BT OB/OS -3.00 -110.00 BT CADI -*****.00 -131.00 BT 10-day MA -*****.00 FTSE ST Mid Cap 689.64 -4.78 FTSE ST Small Cap 398.23 -3.97 FTSE ST All Share 696.73 -7.41 FTSE ST China Top 165.55 -2.53 FTSE ST China 195.69 -2.41 FTSE ST
      76 words
    • Article
      Lock icon UNUSUAL ACTIVITY
      80 16 VOL CLOSE($) CHANGE Sysma 70,228.6 0.120 +0.027 +29.03 SinoCloud 35,803.4 0.003 +0.001 +50.00 Select 6,238.2 0.530 +0.105 +24.71 Parkson Retail 77,515.0 0.177 +0.020 +12.74 OKH Global 368,018.9 0.130 +0.026 +25.00 Huationg Global 1,138.0 0.150 -0.030 -16.67 HuanHsin 84.0 0.008 +0.003 +60.00 Sinjia Land 996.7 0.080 +0.006 +8.11 Magnus
      80 words
    • Article
      Lock icon COMMODITY FUTURES
      193 17 Mar-23 Price Net change change Last Trade Agricultural Mar-23 CBOT Soybeans (US cents/bu) 905.25 -5.00 -0.55% 13/05/2016 CBOT Soybean Oil (US cents/lb) 33.36 -0.57 -1.68% 13/05/2016 CBOT Wheat (US cents/bu) 463.00 -3.75 -0.80% 13/05/2016 Mar-23 LIFFE Cocoa (£/tonne) 2211.00 -24.00 -1.07% 13/05/2016 LIFFE Coffee (US$/tonne) 1480.00 1.00 0.07%
      193 words
    • Article
      Lock icon PALM OIL
      57 17 Mar 24 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Apr 16 2639.0 2639.0 2639.0 2600.0 580 6159 May 16 2659.0 2678.0 2661.0 2634.0 3148 ***** Jun 16 2677.0 2700.0 2689.0 2656.0 ***** ***** Jul 16 2661.0 2688.0
      57 words
    • Article
      Lock icon GOVERNMENT SECURITIES
      67 17 Mar 24 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0F 1.375 01-Oct-17 100.71 100.77 100.77 5-Year NX*****X 2.250 01-Jun-21 102.87 102.85 102.80 10-Year NX*****Z 2.375 01-Jun-25 103.27 103.48 103.09 15-Year NZ*****F 2.875 01-Sep-30 106.03 106.20 105.90 20-Year NZ*****V 3.375 01-Sep-33 112.59
      67 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 17 Mar 24 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0246 1.0261 0.7479 0.7484 Canadian dollar 1.0327 1.0339 0.7541 0.7538 Euro 1.5281 1.5298 1.1154 1.1158 NZ dollar 0.9150 0.9164 0.6679 0.6684 Sterling pound 1.9283 1.9301 1.4075 1.4078
      155 words
    • Article, Illustration
      Lock icon STOCK MARKETS
      114 17 Straits Times Index Source: Bloomberg YTD change: -1.23% 52-week high: 3,539.95 on April 15,2015 52-week low: 2,532.70 on Jan 21,2016 Source: Bloomberg Hang Seng Index Source: Bloomberg ytd change: -7.16% 52-week high: 28,442.75 on April 28,2015 52-week low: 18,319.58 on Feb 12,2016 Source: Bloomberg Shanghai Stock Exchange Composite
      Source: Bloomberg  -  114 words
    • Article
      Lock icon BONDS, WARRANTS, PREFERENCE SHARES
      210 17 Most active Mar 24 Prem Expiry Last Vol Conv Exer Disc Gear- Mths Company Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****9 0.2 -0.1 ***** 1 1 71 3.50 56 UOB MB eCW*****5 10 -1 8718 0.1 1890 4 DBS MB eCW*****1 12.5 -1.7 7387
      210 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INT’L INDICES
      377 17 In local curr In S$ In US$ dy yr dy yr dy yr Mar 23 Index Change Change Change Change Change Change World Preliminary 1241.0 -0.5 -2.9 -0.4 -5.5 -0.7 -1.9 EAFE Preliminary 946.1 -0.4 -6.6 -0.6 -8.0 -1.0 -4.5 Europe Preliminary 1339.2 -0.4 -5.2
      377 words
    • Article
      Lock icon Keep p2p lending afloat with tailored regulations
      1098 18  -  Rules such as the need for a prospectus will stifle the fledgling market HOCK LOCK SIEW By Jamie Lee leejamie@sph.com.sg @JamieLeeBT THE first potential default of a peer-to-peer (p2p) loan in Singapore has brought to the fore impending regulations on this fledgling S$15
      1,098 words
    • Corporate Digest
      • Article
        Lock icon Low Keng Huat
        99 18 CONSTRUCTION firm Low Keng Huat is proposing to sell its Vietnam hotel subsidiary for 1.1 trillion Vietnamese dong (S$67.6 million). Low Keng Huat owns Vinametric Limited, which owns and operates Duxton Hotel Saigon in Ho Chi Minh City’s District 1. The hotel was valued by CBRE at
        99 words
      • Article
        Lock icon Singapore Press Holdings
        87 18 SINGAPORE Press Holdings (SPH) announced it is investing S$6.8 million in video content marketing company Brand New Media Singapore (BNMS). Established in Singapore in 2010, BNMS is a wholly owned subsidiary of Austral-ia-based video content marketing company Brand New Media Pty Ltd. After the acquisition, SPH subsidiary
        87 words
      • Article
        Lock icon Abundance International
        107 18 A MANDATORY unconditional cash offer for the shares of chemicals trader Abundance International has been triggered such that the offeror, executive chairman Shi Jiangang, will buy out minority shareholders at a final offer price of S$0.05 a share. However, Mr Shi intends to keep the firm listed and
        107 words
      • Article
        Lock icon Perennial Real Estate Hldgs
        116 18 PERENNIAL Real Estate Hold- ings will acquire a 20 per cent interest in an established maternal and child health management company in China for 135.4 million yuan (S$28.7 million). It will acquire the shares of Shenzhen Aidigong Modern Maternal and Child Health Management Co Ltd (Aidigong)
        116 words
      • Article
        Lock icon Croesus Retail Trust
        102 18 CROESUS Retail Asset Management, the trustee-manager of Croesus Retail Trust (CRT) has closed its order book for the private placement. The issue price per new unit has been fixed at 75 Singapore cents. In total, 70 million new units were subscribed. The private placement exercise will raise
        102 words
      • Article
        Lock icon Parkway Life Reit
        89 18 PARKWAY Life Reit has acquired another nursing home facility in Japan for 1.1 billion yen (S$13.6 million), said its manager Parkway Trust Management Limited on Thursday. The facility, Silver Heights Hitsujigaoka Ichiban-kan Ni-ban-kan, is acquired from Sap-poro-based nursing home operator Kabushiki Kaisha Silver Heights Sapporo. The acquisition,
        89 words
Page thumbnail Page 16
Page thumbnail Page 17
Page thumbnail Page 18
Page thumbnail Page 19
  • REAL ESTATE
    • Article
      Lock icon Office subleasing in San Francisco flags slowdown in city’s economy
      775 19 It is at the highest since 2010, suggesting that a 5-year frenzy for office space may be cooling Bloomberg San Francisco SAN Francisco’s commercial real estate market may be foretelling a slowdown in the city’s heated technology-driven economy. Office subleasing,
      Bloomberg  -  775 words
    • Article
      Lock icon China’s Wanda to scale back construction in smaller cities
      340 19 Reuters Hong Kong CHINA’S biggest commercial property developer, Dalian Wanda Commercial Properties Co Ltd, on Thursday said it would scale back investment and construction in small cities due to oversupply. The property arm of Dalian Wanda Group, owned by China’s richest
      Reuters  -  340 words
    • Article, Illustration
      Lock icon Foreign names of China projects under fire
      555 20 Beijing says excessively grandiose or strange names will also face scrutiny NYT Hong Kong THERE is a Vancouver Forest in Beijing, a Thames Town in Shanghai and an Oriental Yosemite in Dalian, China. China’s suburbs have been filling up lately with housing developments
      NYT; PHOTO: SIM CHI YIN/NEW YORK TIMES  -  555 words
    • Article
      Lock icon Home-price rise exceeds wage growth in US: report
      411 20 Reuters New York HOME prices are rising faster than wages in most of the United States, making homeownership increasingly difficult for average Americans in some of the most populous areas of the country, according to a report released on Thursday. The report
      Reuters  -  411 words
    • Article
      Lock icon Shenzhen banks asked to tighten home-loan practices
      273 20 Bloomberg Beijing A RESEARCH unit of China’s central bank branch in Shenzhen asked commercial banks in the city to strengthen risk-control practices on household mortgage loans as property prices have soared, according to a statement obtained by Bloomberg News. Mortgage leverage in Shenzhen
      Bloomberg  -  273 words
  • Page 19 Advertisements
    • Advertisement
      Lock icon Page 19 Advertisements Column 1
      194 19 THE TIMES OF INDIA Presents REALTY INDIA EXPO 2016 V I? FREE ENTRY If you are looking at investing in India, this is an event not to be missed! PARTICIPATING CITIES Chennai Bangalore Pune Delhi Mumbai Kerala Coimbatore Thane Gurgaon Noida Bhopal Ahmedabad Mangalore Hyderabad Andhra Pradesh MARCH SAT 26th
      194 words
Page thumbnail Page 20
Page thumbnail Page 21
  • BANKING & FINANCE
    • Article
      Lock icon Swiss banks caught up in US corruption probe
      767 21 Records from 18 banks sought over transactions in Venezuela Bloomberg New York SWISS banks have a new money laundering worry: Venezuela. At the request of US authorities, Switzerland has agreed to turn over records from at least 18 banks involving Venezuela’s state
      Bloomberg  -  767 words
  • Page 21 Advertisements
    • Advertisement
      Lock icon Page 21 Advertisements Column 1
      175 21 A blueprint for Singapore As we reflect with pride on Singapore's remarkable transformation from a third-world to first-world economy within one generation, Singapore must continue to adapt and re-invent herself to remain relevant and competitive in a volatile global economy. But do you know what it means for your business?
      175 words
Page thumbnail Page 22/23
  • Page 22/23 Advertisements
    • Advertisement
      Lock icon Page 22/23 Advertisements Column 1
      514 22/23 Singapore Budget 2016 A blueprint for transformation The Minister for Finance presented the 2016 Budget on 24 March. This Budget focuses on the country's need to build for the future and strengthen the social fabric, and the transformation of the economy through enterprise and innovation to support sustainable growth. PIC
      514 words
Page thumbnail Page 24
  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon PTTEP ties up with parent to diversify revenue stream
      753 24  -  Thai firm to pursue opportunities in integrated gas business By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore THAILAND’S state-owned PTT Exploration Production (PTTEP) is teaming up with its parent company to pursue integrated gas business opportunities in a bid to diversify its
      753 words
    • Article
      Lock icon ‘No hope’ oil fields spur PetroChina to cut losses and output
      391 24 Bloomberg Hong Kong AS oil’s collapse leaves some fields with no chance to turn a profit, China’s biggest producer is ready to cut its losses. PetroChina Co sees oil and gas output falling for the first time in 17
      Bloomberg  -  391 words
  • Page 24 Advertisements
Page thumbnail Page 25
  • Page 25 Advertisements
    • Advertisement
      Lock icon Page 25 Advertisements Column 1
      3607 25 MANDATORY UNCONDITIONAL CASH OFFER BY SHI JIANGANG to acquire all the issued and paid-up ordinary shares in the capital of ABUNDANCE INTERNATIONAL LIMITED (FORMERLY KNOWN AS CRAFT PRINT INTERNATIONAL LIMITED) (Incorporated in Singapore) (Company Registration Number *****1572K) other than those already owned, controlled or agreed to be acquired by Shi
      3,607 words
Page thumbnail Page 26
  • TECHNOLOGY
    • Article, Illustration
      Lock icon Samsung ‘actively looking’ to buy AI developers
      625 26 It aims to transform into more of a software-driven company amid falling sales of its devices Bloomberg Seoul SAMSUNG Electronics Co is “actively looking” to acquire developers of artificial intelligence and other software as the world’s biggest smartphone maker tries to overcome flat-lining
      Bloomberg; PHOTO: BLOOMBERG  -  625 words
    • Article
      Lock icon China businessman pleads guilty in US to hacking conspiracy
      275 26 Reuters San Francisco A BUSINESSMAN from China pleaded guilty on Wednesday to conspiring to hack into the computer networks of major US defence contractors including Boeing Co, the US Department of Justice said in a statement. Su Bin, 50, faces a
      Reuters  -  275 words
    • Article
      Lock icon US charges Iranian hackers in Wall Street cyber attacks
      359 26 Reuters, Bloomberg New York THE United States on Thursday charged seven Iranians for what it said was a coordinated campaign of cyber attacks from 2011 to 2013 on several US banks and a New York dam. At a news conference, Attorney
      Reuters,; Bloomberg  -  359 words
Page thumbnail Page 27
  • CONSUMER
    • Article, Illustration
      Lock icon Chow Tai Fook plays catch-up as it ventures into e-commerce
      813 27 It invests 350m yuan in shopping platform and mall to showcase products sold online BLOOMBERG Hong Kong THE Chow Tai Fook brand took almost 90 years to become a family empire spanning Hong Kong shopping centres, the world’s largest jewellery
      BLOOMBERG; PHOTO: BLOOMBERG  -  813 words
    • Article
      Lock icon Novartis to settle China bribe case for US$25m
      247 27 BLOOMBERG Hong Kong NOVARTIS AG agreed to pay US$25 million to settle a US Securities and Exchange Commission case that claimed the Swiss drugmaker violated the Foreign Corrupt Practices Act by paying bribes to health professionals in China to increase sales from
      BLOOMBERG  -  247 words
  • Page 27 Advertisements
    • Advertisement
      Lock icon Page 27 Advertisements Column 1
      24 27 One man’s junkis another man’s treasure Shop second-hand or sell your possessions in CLASS 162 To advertise, call the Print Classified Hotline: 1800-289 9988
      24 words
Page thumbnail Page 28
  • GOVERNMENT & ECONOMY
    • Article
      Lock icon KL banks fined RM70m for breaking BNM rules
      632 28  -  This is on top of 182 criminal offences successfully prosecuted in 2015 By Pauline Ng btworld@sph.com.sg Kuala Kuala Lumpur BANK Negara Malaysia (BNM) fined its licensees nearly RM70 million (S$23.7 million) for regulatory breaches last year, with the RM54 million imposed on
      632 words
    • Article
      Lock icon Durable goods orders fall for 3rd time in 4 months in February
      387 28 LATEST US DATA Bloomberg Washington ORDERS for durable goods fell in February for the third time in four months, reflecting a broad-based slowdown that underscores lingering softness in US capital investment. Bookings for goods and materials meant to
      Bloomberg  -  387 words
    • Article, Illustration
      Lock icon Premier Li sounds optimistic note on China’s economy
      508 28 Reuters Boao, China CHINA’S economy got off to a good and stable start in 2016, Premier Li Keqiang said on Thursday, encouraging observers to consider the economy “as a whole”. Mr Li was speaking at a forum in Boao on the southern
      Reuters  -  508 words
Page thumbnail Page 29
  • Page 29 Advertisements
    • Advertisement
      Lock icon Page 29 Advertisements Column 1
      602 29 FULL-DAY WORKSHOPS THE MODERN WORKPLACE: ARE YOU EQUIPPED FOR IT? Who should attend: Directors, Business Owners, Supervisors, Professionals, Managers, Executives, and Leaders who wish to grow further in their roles. VISUAL STORYTELLING We live in an age of information abundance and attention scarcity where audiences have lesser time to take
      602 words
Page thumbnail Page 30/31
  • OPINION
    • Article, Illustration
      Lock icon Wither the old banking models?
      1397 30/31  -  The 2008 fix has taught us that whatever was done was a symptomatic cure. The long-term malaise continues. BY BALA SHANKAR BY BALA SHANKAR ~The writer is a Singapore-based consultant THE cracks in the banking system have once again been ripped open. Twice in the
      PHOTO: REUTERS  -  1,397 words
    • Article, Illustration
      Lock icon The Donald across the pond
      682 30/31  -  By Stuart Mackintosh ~The writeris executive director of the Group of Thirty, an international financial think tank. This is part of the Official Monetary and Financial Institutions Forum’s series on the UK EU referendum, which presents a wide variety of perspectives from Britain and around
      OMFIF; PHOTO: REUTERS  -  682 words
Page thumbnail Page 32
  • TRANSPORT
    • Article
      Lock icon American finally adopts profit-sharing plan
      626 32 Airline decides to end rift with workers; first payout in early 2017 Bloomberg Dallas AMERICAN Airlines Group Inc gave in to pressure from employees and adopted a profit-sharing programme, acknowledging the issue was thwarting efforts to improve labour relations and the carrier’s performance. American joins
      Bloomberg  -  626 words
    • Article, Illustration
      Lock icon US regulators, VW yet to reach deal on emission issue: sources
      457 32 Reuters London VOLKSWAGEN AG (VW) was not expected to unveil an agreement on Thursday with US regulators at a federal court hearing in California on how to address excess emissions in 580,000 diesel vehicles, two sources briefed on the
      Reuters; PHOTO: AFP  -  457 words
    • Article
      Lock icon Bangkok to fund first phase of Thailand-China railway project
      294 32 Reuters Bangkok THAILAND said on Thursday it would fund the construction of the first phase of railway line from the Thai-Laos border to the Gulf of Thailand that China and Thailand had agreed to partner. The project is part of China’s
      Reuters  -  294 words
Page thumbnail Page 33
  • Page 33 Advertisements
    • Advertisement
      Lock icon Page 33 Advertisements Column 1
      552 33 THE BUSINESS TIMES SHIPPING TIMES MONTREAL 10 120 29/7 30/7 4/8 MONTREAL 10 120 29/7 30/7 4/8 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) SIN PKL KUC KK SUR JKT POSITIVE PASSION 74 100 30/3 31/3 2/4 PRECIOUS CORAL 005 60 2/4 3/4
      552 words
    • Advertisement
      Lock icon Page 33 Advertisements Column 2
      351 33 C a i l a n J e d d a h B r i s b a n e E Shanghai Chittagong n n o Ho Chi Minh r e H o n g K o n g J e b e NYK RORO (ASIA) PTE. LTD. REGULAR SERVICE
      351 words
Page thumbnail Page 34
  • Page 34 Advertisements
    • Advertisement
      Lock icon Page 34 Advertisements Column 1
      567 34 WALLENIUS WILHELMSEN LOGISTICS Tel: (65) 6379 5066 Fax: (65) 6379 5106 Email: 2wsinenq@2wglobal.com website: http://www.2wglobal.com AUSTRALIA NEW ZEALAND TO ASIA VESSEL VOY AKL BNE PKL MEL FRE SIN FAUST FF613 08/03 12/03 14/03 16/03 22/03 28/03 TAMESIS FF614 19/03 23/03 25/03 27/03 31/03 07/04 FIDELIO FF616 08/04 18/04 15/04 13/04
      567 words
    • Advertisement
      Lock icon Page 34 Advertisements Column 2
      346 34 WSINOKOR MERCHANT MARINE CO. LTD CIX (SAT) NHS (SUN) Vessel VOY SIN HKG KAN PUS HY SINGAPORE 075E 27/03 02/04 06/04 07/04 HY TACOMA 061E 02/04 08/04 13/04 14/04 ZIM HAMBURG 4E 09/04 15/04 20/04 21/04 TEXAS *****E 17/04 22/04 27/04 28/04 Vessel VOY SIN HCM PUS KAN HJ PT
      346 words
    • Advertisement
      Lock icon Page 34 Advertisements Column 3
      326 34 BINTANG MAS SHIPPING PTE LTD 39 Neil Road Singapore *****3 Tel: *****988 Fax: *****564 CR No.: **********0W Breakbulk Container Service to Sarawak, Sabah Brunei Vessel Voyage ETA SIN Muara Labuan K. Kinabalu Eline Enterprise 1607E 29.03.16 03.04.16 04.04.16 Eponyma 1606E 04.04.16 09.04.16 10.04.16 12.04.16 Eponyma 1607E 16.04.16 21.04.16 22.04.16 24.04.16
      326 words
Page thumbnail Page 35
  • CITY BUZZ
    • CITY BUZZ BT writers’ picks of what to see, do or talk about
      • Article, Illustration
        Lock icon FUCHICO CRAZE
        172 35  -  By Tay Suan Chiang SHOPPING Tokyu Hands Pop Up Store IF you are a fan of Tokyu Hands and who isn’t you wouldn’t want to miss the lifestyle brand’s pop-up store at Suntec City. Apart from best-sellers from their kitchen ware, beauty and lifestyle collections, there will be
        172 words
      • Article, Illustration
        Lock icon Special Sunday celebrations at Morton’s of Chicago
        182 35  -  DINING By Tay Suan Chiang YOU no longer have to wait till dinner to have a steak at Morton’s of Chicago Singapore. The steakhouse will open its doors at lunch for some of this year’s most special Sunday celebrations, including Easter and Mother’s
        182 words
      • Article
        Lock icon Blue Man Group
        107 35  -  ARTS By Avanti Nim BLUE might be most closely associated with the emotion of sadness, but the Blue Man Group aims to bring out exactly the opposite. The performance art company touts itself as comedy, theatre, rock concert, and a dance party all rolled into one. It
        107 words
      • Article, Illustration
        Lock icon I1 Divo Amor & Pasion World Tour
        178 35  - I1 Divo Amor Pasion World Tour MUSIC By Dylan Tan POPERA (Pop Opera) sensation Il Divo (right) returns to Singapore following the success of 2014’s A Musical Affair tour. The brand-new Amor Pasion show is named after the group’s latest album which comprises classic Spanish love songs. It’s the first
        178 words
      • Article, Illustration
        Lock icon Catalunya Singapore’s Easter Weekend Brunch with Passion
        181 35  -  DINING By Rachel Loi GET a taste of a Spanish Easter at Catalunya Singapore this weekend, with their special edition Easter Weekend Brunch with Passion. Not only will they serve a range of exclusive Easter dishes on top of the usual Spanish fare
        181 words
      • Article, Illustration
        Lock icon SCUFF 2016
        132 35  -  CINEMA By Dylan Tan The Singapore Underground Film Festival (SCUFF) kicked off on Thursday with the Kiwi hor-ror-comedy Housebound and the award-winning Austrian psychological drama Goodnight Mommy follows on Friday. Over the weekend, two documentaries will explore the cinematic art of “copyi n g” R ema k e
        132 words
Page thumbnail Page 36
  • CITY LIFE
    • Article, Illustration
      Lock icon Let the arts come to you
      642 36  -  Arts in Your Neighbourhood returns, with a focus on Toa Payoh this time. By Avanti Nim avantin@sph.com.sg HAVE you ever wondered what your neighbourhood looks like from someone else’s eyes? If the sights, smells and sounds you hear are all there is, or if
      PHOTOS: ARTS IN YOUR NEIGHBOURHOOD  -  642 words
  • Page 36 Miscellaneous
    • Miscellaneous
      Lock icon Page 36 Miscellaneous Column 1
      313 36 CRYPTIC CROSSWORD Across 1 Struck by writing that’s restrained (10) 6 Creatures carried by consumers going west (4) 10 Perfect, say (5) 11 Engineers expressing disapproval about time getting PC going again (9) 12 City needing my answer to include date of birth (7) 13 Humour about bowler’s thingy? (7)
      313 words
Page thumbnail Page 37
  • WINE
    • Article, Illustration
      Lock icon Riesling should share stage with Chardonnay
      1095 37  -  An aged Clos Ste Hune, ie more than 10 years’ age, is just magic. BY NK Yong BY NK Yong WHY do we like wine? Or more pertinently, why do I like wine? That is not the same question as “Why do I drink
      PHOTO: NK YONG  -  1,095 words
Page thumbnail Page 38
  • ARTS
    • Article, Illustration
      Lock icon Go ahead – laugh at his art
      638 38  - Go ahead laugh at his art Chun Kai Feng’s artworks pierce the everyday life with black humour. By Helmi Yusof helmi@sph.com.sg @HelmiBT IF you like your art with a bit of comedy, go see Chun Kai Feng’s solo art show titled The Key to this Mystery is to Rephrase the
      PHOTOS: HELMI YUSOF  -  638 words
    • Article, Illustration
      Lock icon History through the eyes of Raffles’ two wives
      680 38  -  BOOK REVIEW Reviewed by Cheah Ui-Hoon uihoon@sph.com.sg SIR Stamford Raffles had two wives. Consecutively, not concurrently. If you didn’t know that, or are curious to imagine more of what Raffles’ personal, domestic life would have been like, then Olivia and Sophia, by
      680 words
Page thumbnail Page 39
  • MUSCI/ARTS
    • Article, Illustration
      Lock icon Pop legend still going strong after 5 decades
      767 39  -  Welsh crooner Tom Jones, who is 75, is even now embarking on new musical adventures. By Dylan Tan By Dylan Tan dylantan@sph.com.sg @DylanT anSYBT WHEN you’ve sold over 100 million records, it’s tempting to just rest on your laurels. Not Tom Jones
      FILE PHOTO  -  767 words
    • Article, Illustration
      Lock icon 6 local acts make up latest edition of sacred music festival
      594 39  -  By Cheah Ui-Hoon uihoon@sph.com.sg BRINGING together multiple religions through music has been the core mission of The Esplanade’s A Tapestry of Sacred Music. Nowin its eighth edition, the festival continues to focus on lesser-known music practices which are seldom
      PHOTOS: THE ESPLANADE CO LTD  -  594 words
Page thumbnail Page 40
  • CINEMA
    • Article, Illustration
      Lock icon Over-the-top superhero showdown
      515 40  -  The humour-free plot is convoluted and the action threatens to border on over-kill. By Dylan Tan By Dylan Tan dylantan@sph.com.sg @DylanT anSYBT YOU’RE bound to ask yourself a couple of questions before catching Batman vs Superman: Dawn of Justice as Zack Snyder’s highly-anticipat-ed and ambitious heavyweight title
      515 words
    • Article, Illustration
      Lock icon Capturing spirit of a forgotten folk pop genre
      412 40  -  By Dylan Tan dylantan@sph.com.sg @DylanTanSYBT BEFORE the Internet and the age of YouTube, getting one’s music heard must have been a gargantuan task. Yet a local movement flourished during the eighties and although xinyao a brand of Chinese folk pop has largely
      412 words
Page thumbnail Page 41
  • COVER STORY
    • Article, Illustration
      Lock icon The wild and wonderful world of art
      111 41  -  We check out some of the head-turners and jaw-droppers in Art Basel Hong Kong. By Helmi Yusof SURREAL APPROACH Gabriel Barredo’s weird, dark and kinetic sculptures get the award for the creepiest artwork (left); Yuan Goang-Ming’s perfectly-aligned sculpture and moving images on a
      PHOTOS: HELMI YUSOF  -  111 words
    • Article, Illustration
      Lock icon Art Basel HK: Is the inevitable slowdown here?
      1084 42/43  -  At Asia’s biggest art fair, the mood is cautious as mixed sales reports emerge from galleries. By Helmi Yusof By Helmi Yusof helmi@sph.com.sg @HelmiBT HAS Chinese contemporary art lost some of its lustre? According to the annual report released by Artprice and
      PHOTOS: HELMI YUSOF  -  1,084 words
    • Article, Illustration
      Lock icon Michael Tay set to give cities a cultural boost
      282 42/43  -  By Helmi Yusof CAN a city capitalise on culture to put itself on the global map? Art Basel believes any city can, and wants to help it achieve those goals. Its newly announced Art Basel Cities programme offers to link cities
      FILE PHOTO  -  282 words
Page thumbnail Page 42/43
Page thumbnail Page 44
  • Page 44 Advertisements
    • Advertisement
      Lock icon Page 44 Advertisements Column 1
      115 44 LifestyleBTTHE BUSINESS TIMES MARCH 25, 2016 ART BASEL HK What's up, Japanese artist Tatsuo Miyajima’s light installation for Art Basel Hong Kong, entitled Time Waterfall, is projected onto the facade of the International Commerce Centre on the Kowloon waterfront (above); the event returns with some wild and wonderful creations (below)
      115 words