The Business Times, 31 March 2016

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Total Pages: 34
1 34 The Business Times
  • 22 1 THE BUSINESS TIMES S$1.20 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BusinessTimes CO REGN NO *****2868E MCI (P) 039/08/2015 Thursday, March 31, 2016
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  • Article, Illustration
    261 1 Growth in Asia’s developing economies will slow a bit this year and next compared with last year, but India and South-east Asia should still perform relatively strongly, even as China’s growth continues to slow, the ADB says. TOP STORIES 2 The Monetary Authority of Singapore is looking at
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  • 1179 1  -  So far, efforts by Singapore building owners seem basic, barely going beyond hiring guards and CCTV monitoring By leemx@sph.com.sg Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore RISING security risks amid mounting global terror threats have made enhancing security at buildings and installations a
    Source: Guidelines for Enhancing Building Security in Singapore by MHA; BT Graphics  -  1,179 words
  • 1176 1  -  CEO: China should continue liberalising its market; Beijing is mentally prepared for big job losses this year By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore DBS’S integration with Societe Generale’s private banking business in Asia may have breezed past the bank’s targets, but the bank’s
    PHOTO: ARTHUR LEE  -  1,176 words
  • 26 1 Wednesday Change STI 2,872.78 +53.70 KL COMP 1,717.82 +2.78 NIKKEI 225 16,878.96 -224.57 HANG SENG 20,803.39 +437.09 SHENZHEN B 1,142.22 +12.74 DOW(11.45am EDT) 17,720.12 +87.01
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  • Page 1 Advertisements
    • 53 1 THE BUSINESS TIMES CASE AGAINST CONCORD PACIFIC Oei Hong Leong ceases Singapore action against Concord real estate 12 SUSTAINABILITY REPORTING Total system approach needed SPECIAL FOCUS 16 JB 1735 II BlancpaiN MANUFACTURE DE HAUTE HORLOGERIE BLANCPAIN BOUTIQUE MARINA BAY SANDS SHOPPES 2 BAYFRONT AVENUE #B2M-237 (CASINO LEVEL) SINGAPORE *****2 TEL
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    • 12 1 PROPERTY AUCTION No buyers for bankrupt spice trader’s bungalow TOP STORIES 4
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    • 12 1 Smaller bonus takes UOB chief out of S$10m pay club, Page 6
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  • TOP STORIES
    • 767 2  -  It says spillover from China slowdown and some Asian economies’ greying populations could slow their future growth By Anthony Rowley btworld@sph.com.sg Tokyo GROWTH in Asia’s developing economies will slow somewhat this year and the next compared with last
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    • 340 2  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THE Monetary Authority of Singapore (MAS) is looking at ways to improve the use and dissemination of its data, in hopes of making it available through the use of application programming interfaces (APIs). Without specifying a
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    • 699 2  -  Lower national score largely pulled down by poorer performances in finance insurance and healthcare sectors in Q4 By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore THE national customer satisfaction level here was lower in 2015, weighed down by poorer performances in the
      Source: CSISG  -  699 words
    • 450 4  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore FRENCH insurer AXA Life will officially join the Integrated Shield Plan (IP) and rider market here as the sixth and newest provider from May 1, after it gained the Health Ministry’s approval to do so.
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    • 677 4  -  Bid-ask price gap cited as hurdle despite strong interest; auctioneer expects post-auction negotiations By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore ONE man’s misfortune might be another man’s opportunity. But no one succeeded in seizing the chance to buy the freehold bungalow at 85 Branksome Road,
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    • 715 4 BLOOMBERG Sydney STOCKS jumped around the world on Wednesday after Federal Reserve chair Janet Yellen reasserted on Tuesday the US central bank’s gradual approach to raising interest rates. Commodities climbed as the dollar extended its worst month in more than
      BLOOMBERG  -  715 words
    • 403 4  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore FOREIGN investment interest in Singapore companies remains strong despite global uncertainties and tough economic conditions, the latest report by the Singapore Commercial Credit Bureau (SCCB) reveals. Credit searches made by foreign companies on local
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    • 322 4  -  By Grace So graceso@sph.com.sg Singapore DELOITTE’S Singapore Budget Seminar 2016 will feature a panel discussion organised by The Business Times and moderated by its associate editor Vikram Khanna. The seminar is targeted at directors, executives, accountants, consultants and tax professionals. During the
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    • 901 5  -  It will expand its Tuas South plant and work with an NUS research body to build a next-generation solar panel By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore SINGAPORE’S largest cleantech player, REC, has unveiled S$250 million in investments in the
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    • 600 5  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore COMPANIES may feel that they cannot donate as much as before, given the weakened economy, but they still do their part by rallying their employees into contributing time and effort to meaningful causes. Finance Minister Heng
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  • Page 4 Advertisements
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  • Page 5 Advertisements
    • 193 5 The Impact of One Belt One Road on ASEAN Region. MERIDIAN INTERNATIONAL Date: Sunday, 3rd April 2016 Time: 2pm RAFFLES CITY CONVENTION CENTRE ENTERPRISE ROOM, LEVEL 4 Limited Seats RSVP NOW! EDMOND LIM (R *****1 I) *****108 FREE Property Seminar r Special Speaker Mr. Chay Yiowmin, a partner Head of
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    • 143 5 TALK TO JETRO FARST. INVEST 1APAN About Business in Japan. Japan welcomes global companies with open arms! This is an ideal country for innovation, with business and living environments unparalleled in the world. JETRO is Japan' s core governmental organization for promoting inward foreign direct investment and has supported over
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  • COMPANIES & MARKETS
    • 670 6  -  HOCK LOCK SIEW BY ANITA GABRIEL anitag@sph.com.sg @AnitaGabrielBT HIRING and firing the chief executive of a company is the prerogative of the board although one is always trickier than the other. It is also the most important task before a governing board
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    • 427 6  -  By Renald Yeo yrenald@sph.com.sg Singapore TWO banks in Singapore have launched credit cards targeted at different niche markets, with United Overseas Bank (UOB) out to woo the millennials and Standard Chartered Bank (StanChart) taking aim at affluent travellers. UOB
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    • 587 6  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore WHILE a challenging year lies ahead for Singapore retail and office real estate investment trusts (Reits) with rising supply and weak demand, both sectors’ credit profiles are expected to be largely unaffected, said credit
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    • 352 6  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore SINGAPORE-based leather tanner and sofa maker HTL International has opened HomesToLife, its latest flagship store, at 65 Mohamed Sultan. The new retail concept is marketed as a one-stop shop with access to its portfolio of over
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    • 602 6  -  By leejamie@sph.com.sg Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore CHIEF executive of UOB Wee Ee Cheong has dropped out of the S$10-million pay club, with a fall in bonus in 2015 from a year ago. His peers both had their bonuses bumped
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    • 531 6  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur MALAYSIA’S George Town, Ipoh and Melaka are secondary cities that Banyan Tree Hotels Resorts is keen to put down roots should the right opportunity come along. Borneo’s Sabah with its renowned rainforests is another place that
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    • 498 6  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore IT may be a while before the newly introduced NFC (Near-Field Communication)-enabled SIM cards become widely used in Singapore, but this is unlikely to impact the three telcos, DBS Group Research said
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    • 611 7  -  Markets now pricing in no rate hikes by Fed until towards the end of the year ASIA BONDS By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore LOCAL bond prices are hitting new highs as interest rates fall sharply. In particular, the three-month swap
      Source: SGX; Source: Bloomerg  -  611 words
    • 534 7 BLOOMBERG Singapore ASIA’S beaten-down commodity bonds are now delivering the best returns as raw material prices rebound from 25-year lows. Noble Group Ltd’s 2018 notes returned 37 per cent this month through March 29, leading gainers in junk bonds from
      BLOOMBERG  -  534 words
    • CORPORATE DIGEST
      • 55 7 TIGER Airways is selling two Airbus A320 aircraft to Stellar Aircraft Holding 1 at a loss to rightsize its fleet. As at March 31, 2015, the carrying value of the two planes had been written down to S$71 million. Upon completion of the sale, Tiger will record an
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      • 47 7 SOCIAL networking firm YuuZoo Corporation said it has signed an agreement with the Alibaba Sports Group (ASG) to organise and run an e-sports tournament and manage e-sports club competition centres. Under the agreement, YuuZoo’s China joint venture YuuGames will receive a “multimillion US dollar fee”.
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      • 67 7 SECOND Chance Properties' net profit for the second quarter tumbled 64 per cent to S$1.1 million on lower revenue and gains from the fair valuation of properties. Its revenue for the three months ended Feb 29, 2016, fell 16 per cent to S$8.4 million, as its apparel
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      • 55 7 SEMBCORP Industries has secured a long-term power purchase deal for its new power plant in Myingyan, Mandalay. The plant, slated for commercial operations in 2018, will supply 225 megawatts of power to Myanmar via Myanma Electric Power Enterprise for 22 years. Sembcorp hopes to help meet the growing
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    • Article, Illustration
      63 8 STI Catalist Straits Times Index March 30,2016 2,872.78 +53.70 (+1.90%) Current streak 1 day Day high 2,874.26 Day low 2,836.93 52-week high 3,539.95 (Apr 15, 2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist Index March 30,2016 460.54 +6.42 (+1.41%) Current streak 1 day Day high 461.68 Day low
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    • 652 8  -  Index just 10 points in the red for 2016; Wednesday rebound prompted probably by Yellen comments and window-dressing STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT ON Wednesday, the penultimate day of the first quarter, the Straits Times Index rebounded 53.7 points, or 1.9 per
      Source: Bloomberg  -  652 words
    • 316 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 241 -1 245/240 271 209 6.1 6330.4 CapitaCom Trust 150 +1.5 150/148.5 179 122.5 5.7 4433 CapitaLand 311 cd +4 312/307 379 267 12.4 2.9 *****.9 CapitaMall Trust 212 unch 216/211 228
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    • 34 8 VOLUME Spackman 105,863,400 Noble 62,224,100 Rowsley 55,976,000 OKH Global 53,487,800 Ezra 49,570,400 Market volume 1,824,410,000 VALUE DBS Grp 93,292,521 Singtel 79,752,941 OCBC Bank 68,543,848 UOB 59,434,321 Global Logistic 48,124,418 Market value 1,200,899,000
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    • 108 8 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS INDIA US$ US664 +6 399 664/663 819/575 664/665 83 DBXT MSRussia US$ US185 +4 121 185/183 235/129 186/187 STI ETF 288 +5 89 288/285 355/254 287/288 DBXT MSINDO us$ US1284 +34 86 1284/1263 1492/911
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    • 77 8 Mar 30 VALUE CLOSE BT OB/OS 95.00 +216.00 BT CADI -*****.00 +152.00 BT 10-day MA -*****.00 +10.00 FTSE ST Mid Cap 692.55 +7.64 FTSE ST Small Cap 400.57 +3.60 FTSE ST All Share 700.27 +9.90 FTSE ST China Top 165.90 +1.80 FTSE ST China 196.06 +2.46 FTSE
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    • 35 8 STI FTSE ST All-Share ftse ST All-Share index March 30,2016 700.27 +9.90 (+1.43%) Current streak 1 day Day high 700.27 Day low 692.36 52-week high 847.98 (Apr 15, 2015) 52-week low 625.37 (Jan 21, 2016)
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    • 33 8 STI MSCI EAFE MSCI EAFE index March 29,2016 1,629.63 -1.87 (-0.11%) Current streak 1 day Day high 1,644.15 Day low 1,623.35 52-week high 1,949.49 (May 15, 2015) 52-week low 1,492.43 (Feb 12, 2016)
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    • 186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 4 1 1 0 0 9 4 1 Manufacturing 52 35 23 10 5 12 62 40 35 Commerce 27 15 10 8 1 6 35 16 16 Tpt/Stor/Comms 20 4 9
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    • 122 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 28,340 1,677 30,017 81,712 384 82,096 Manufacturing 189,662 37,617 227,279 116,046 3,157 119,202 Commerce 138,873 59,403 198,276 118,444 1,665 120,109 Tpt/Stor/Comms 121,685 1,612 123,297 162,787 135 162,922 Finance 22,772 2 22,774 246,662 246,662 Construction 13,924
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    • 80 8 VOL CLOSE($) CHANGE TA 24.6 0.300 +0.085 +39.54 Xyec 1,532.4 0.285 +0.085 +42.50 Santak 32.0 0.250 -0.030 -10.71 China Intl 27.4 0.225 +0.039 +20.97 Sitra 7,861.0 0.011 +0.002 +22.22 Lion Asiapac 20.0 0.220 -0.060 -21.43 Infinio 500.1 0.002 +0.001 +100.00 Abundance Intl 90.0 0.063 +0.014 +28.57 Next-Gen Sat
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    • 74 8 BY CENTS CLOSE UP 52w high/low GLD US$ ***** 287.3 1.8 *****/***** Jardine C&C 4090 138.0 3.5 4258/2636 DBXT China50 US$ 2794 106.6 2.9 4258/2355 SPDR DJIA US$ ***** 91.7 0.4 *****/***** Lyxor ChinaH US$ 1250 68.8 4.3 2055/999 BY PERCENTAGE CLOSE UP 52w high/low Infinio 0.2 100.0 0.1
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    • 76 8 BY CENTS CLOSE DOWN 52w high/low DBXT Vietnam US$ 2189 -28.3 -1.0 2786/2017 IS ASIA HYG S$D 1409 -19.0 -1.3 1499/1409 Lyxor Indonesia US$ 8112 -18.9 -0.2 9084/6250 IS ASIA BND S$D 1436 -13.0 -0.9 1483/1398 IS ASIA HYG US$ 1032 -10.8 -0.8 1130/977 BY PERCENTAGE CLOSE DOWN 52w
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    • BROKERS’ TAKE
      • 149 8 Target price: S$4.42 March 30 close: S$5.97 Maybank Kim Eng Research, March 30 WE urge investors to sell into Keppel’s recent surge from its S$4.71 low, which we think was driven purely by oil price sentiments. This is unsustainable as rig-building fundamentals have not improved and earnings
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      • 108 8 Target price: S$4.00 March 30 close: S$3.08 HB Research, March 30 SEMBCORP Industries announced it has signed a long-term power purchase agreement (PPA) with Myanma Electric Power Enterprise for the supply of 225 megawatts of power for 22 years from its upcoming power project in Myingyan, Mandalay.
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      • 230 8  -  Compiled by Kenneth Lim Target price: S$0.26 March 30 close: S$0.193 CIMB Research, March 29 SWISSCO’S current share price implies that six of the nine rigs that it operates will be scrapped, with further impairment of about US$170 million. We believe this is too bearish. FY16 is
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    • 8 8 DATA IMarch 31 US initial jobless claims
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    • 408 9 CURRENCIES REUTERS London THE dollar fell broadly on Wednesday and with just one more day left in March, headed for its worst quarter in five years against a basket of currencies as investors wound back their expectations for US interest rate rises
      REUTERS  -  408 words
    • FOREX RATES
      • Article, Illustration
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      • 471 9 Mar 30 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.001 4.978 0.679 5.962 51.020 102.001 0.862 8.840 3.030 1.107 80.536 35.401 1.038 11.498 0.741 24.764 27.075 0.533 0.769 Canada 0.999 4.974
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      • Article, Illustration
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      • 155 9 Mar 30 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0371 1.0382 0.7688 0.7691 Canadian dollar 1.0363 1.0373 0.7684 0.7682 Euro 1.5275 1.5289 1.1323 1.1326 NZ dollar 0.9369 0.9379 0.6945 0.6948 Sterling pound 1.9470 1.9490 1.4433 1.4438
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      • 22 9 Mar 30 S$ Bid Offer 1-month 1.3490 1.3501 2-months 1.3492 1.3504 3-months 1.3495 1.3508 6-months 1.3506 1.3520 Source: OCBC
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      • Article, Illustration
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    • EQUITY BONDS WARRANTS FUTURES
      • 211 9 Most active Mar 30 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****1 13.2 1.5 ***** 0.1 1480 4 Rowsley Ltd W*****3 1 unch 9562 1 18 7 KepCorp MB eCW*****2 11.7 1.1 7079 0.2 680 9
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      • 377 9 In local curr In S$ In US$ dy yr dy yr dy yr Mar 29 Index Change Change Change Change Change Change World Preliminary 1236.1 -0.1 -3.3 -0.3 -5.8 -0.1 -2.2 EAFE Preliminary 939.9 0.0 -7.2 -0.3 -8.5 -0.1 -5.1 Europe Preliminary 1326.7 0.3 -6.1
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      • 396 9 Mar 30 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Mar16 9420.00 9627.50 9397.50 9625.00 *****1 *****5 Apr16 9385.00 9745.00 9365.00 9727.50 *****0 *****8 NIKKEI 225 INDEX FUTURES Jun16 *****.00 *****.00 *****.00 *****.00 ***** *****6 Sep16 *****.00 *****.00 *****.00 *****.00 134 702 MSCI TAIWAN
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    • BANK RATES
      • 154 9 Mar 30 $S Offer Bid 0vernight 0.05 Par 1-month 0.7500 0.6250 2-months 1.0000 0.8750 3-months 1.0625 0.9375 Overnight mode: 0.15 US$ Offer Bid 7 days 0.45 0.35 1 month 0.48 0.38 2 months 0.65 0.45 3 months 0.75 0.55 6 months 1.05 0.85 9 months 1.25 1.05 12
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      • 70 9 Mar 30 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0T 0.5 01-Apr-18 99.31 99.35 99.15 5-Year NX*****X 2.250 01-Jun-21 103.76 103.80 103.80 10-Year NX*****Z 2.375 01-Jun-25 104.43 104.73 103.98 15-Year NZ*****F 2.875 01-Sep-30 107.89 108.18 107.50 20-Year NZ*****V 3.375 01-Sep-33 114.85
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    • AGRI METALS ENERGY
      • 249 9 Mar-29 Price Net change change Last Trade Agricultural Mar-29 CBOT Soybeans (US cents/bu) 916.00 7.00 0.77% 13/05/2016 CBOT Soybean Oil (US cents/lb) 34.05 0.42 1.25% 13/05/2016 CBOT Wheat (US cents/bu) 476.75 5.75 1.22% 13/05/2016 Mar-29 LIFFE Cocoa (£/tonne) 2186.00 -16.00 -0.73% 13/05/2016 LIFFE Coffee (US$/tonne) 1463.00 5.00 0.34%
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    • 1878 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Last Vol Day Div GrYld 153 127 AIMSAMP Cap Reit 134 -1 110 135 134 1 8.3 851.4 MCap 175.5 101 ARA Asset Mgmt 118cd unch 547 119 116.5 1.7
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    • 344 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Company Last Sale vol ('000) 1 0.2 t Advanced Systems 0.3 unch 1821 0.3 0.2 7.9 Day Low 16.8 4.5 t Alliance Mineral 7.2 unch 4470 7.5 7.2 28.4 C'vr 19.9
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    • 114 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale vol 4258 2355 DBXT China50 US$ US2794 +79 17 2795 2716 7.7 399 190 DBXT MSBrazil US$ US293 +3 59 293 290 1750 995 DBXT MSCHINA US$ US1175
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  • Page 7 Advertisements
    • 1005 7 A SPECIAL ADVERTORIAL FEATURE 30 Years of Developing Global lop Performers The SIM-UOL Success Story 2016 marks three illustrious decades of partnership between leading private tertiary education provider SIM Global Education (SIM GE) and the University of London (UOL), with a total of nearly 30,000 graduates that consistently demonstrate high
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  • Page 10 Advertisements
    • 80 10 SGX== Did You Know? SGX hosts the first inverse ETF tradable in Asia DBXT S&P 500 Inverse Daily UCITS ETF (HD6). Learn more at sgx.com/etf Singapore Exchange This advertisement has been published for general circulation only. It is not an offer or solicitation to buy or sell, nor financial advice
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  • REAL ESTATE
    • 493 12  -  Oei decides not to “waste time” arguing on jurisdiction; he will take on the Canadian developer on its home turf By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore SINGAPORE tycoon Oei Hong Leong has discontinued his Singapore legal action against Canadian developer Concord Pacific Acquisitions over
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    • 434 12 BLOOMBERG Istanbul TOURIST arrivals to Turkey fell by 10 per cent last month compared with February 2015, a blow to an industry that owes US$17 billion to the country’s banks. The drop in arrivals, the biggest in a decade, marked a
      BLOOMBERG  -  434 words
    • 565 13  -  Market watchers expect top bids of between S$520 to S$620 psf ppr, and up to 10 participants for tender exercise By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore THE 99-year commercial and residential site at Bukit Batok West Avenue 6 should receive
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    • 256 13 BLOOMBERG Shanghai EVERGRANDE Real Estate Group Ltd shares dropped as the Chinese developer said its debt mounted last year to fund acquisitions, raising concerns over whether it will be able to maintain sustainable growth. The stock fell as much as
      BLOOMBERG  -  256 words
    • 714 14 As Americans see home values appreciating, they may be inclined to spend more as well, providing a boost to economic growth BLOOMBERG Washington HOME values in 20 US cities kept climbing in January, a sign the limited supply of
      BLOOMBERG; PHOTO: AFP  -  714 words
    • 1211 14 Property transactions for districts 1 to 28 with contract dates between Feb 17 and Feb 23,2016 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED One Shenton Apt 18/02/2016 99 1109 1800 1624 The Sail Marina Bay Apt 17/02/2016
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    • 411 14 BLOOMBERG London THE intensifying bid battle for Starwood Hotels may raise the chances that a deal for a European hotelier will mark a new stage of consolidation in the industry. Connecticut-based Starwood is weighing a US$14 billion non-binding all-cash bid proposal
      BLOOMBERG  -  411 words
  • Page 12 Advertisements
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  • Page 13 Advertisements
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    • 697 13 Preview before Japan Launch! An Opportunity to Invest in Tokyo's Prime Residential Introducing Park Luxe a freehold condominium in Shirokane Takawana, one of the most prestigious residential areas in Japan T 32 i 1 y i Developed by renowned developer Mitsui Fudosan Residential An attractive investment opportunity with high yield
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  • Page 15 Advertisements
    • 2601 15 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices PS GROUP HOLDINGS LTD. Company Registration No. *****1530Z (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Company will be held at Orchid Country Club, Octagon, Golf Club
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    • 2809 15 Si ERENNIAL PERENNIAL REAL ESTATE HOLDINGS LIMITED (Incorporated in the Republic of Singapore) Company Registration Number: *****0338M NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Thirteenth Annual General Meeting of Perennial Real Estate Holdings Limited (the "Company") will be held at Capitol Theatre, 17 Stamford Road Singapore
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  • SUSTAINABILITY AND GOING GREEN
    • 1014 16  -  This is required to increase the rate of adoption through better awareness and greater acceptance. BY LAWRENCE LOH acceptance.BY LAWRENCE LOH T The writer is director of Centre for Governance, institutions and Organisations at nus Business School, National University of Singapore. He
      PHOTO: AFP  -  1,014 words
    • 1395 16  - Sustainability a hot item on board agendas By Esther An T The writer is chief sustainability officer, City Developments Ltd By Esther An TODAY, over 3.9 billion or 54 per cent of the world’s population lives in urban areas. By 2050, urban population will grow exponentially to some 6.4 billion,
      PHOTO: BLOOMBERG  -  1,395 words

  • Page 17 Advertisements
    • 1181 17 SPECIAL FEATURE r. vr Building The Future Greening buildings start with the use of sustainable materials for construction Samwoh embraces sustainability because we understand we’re not just building infrastructure, but also building the future. W Mr Eric Soh, CEO, Samwoh Corporation By Christina Ching When Samwoh’s Eco-Green Building was built
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  • Page 18 Advertisements
    • 1833 18 You are invited to join VRM®’s SPECIAL FEATURE Earth Renewal Initiative Capturing unwanted organic wastes Bacterial Photosynthesis to depleted Safe Water Safe Fuel Safe Food Controlling Odour Managing organic residues Supporting Agriculture Industrial and Domestic Cleaning VRM Biologik Pte Ltd is a manufacturer of high quality microbial formulations used in
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  • BANKING & FINANCE
    • 1020 19 Lack of clarity on how government will convert to equity up to 1.27 trillion yuan of bad debt owed to banks mostly by SOEs and on level of support that state will provide BLOOMBERG Shanghai CHINA’S proposal to deal with a
      BLOOMBERG  -  1,020 words
    • 536 19 BLOOMBERG London EMPLOYEES at the biggest European firms will get a bigger piece of their 2015 bonuses in upfront cash. Some will have to wait even longer than before to get the whole amount. Lenders including Credit Suisse Group AG and UBS
      BLOOMBERG; PHOTO: REUTERS  -  536 words
    • 628 19 BLOOMBERG Mumbai INVESTING in Asia’s worst-perform-ing currency is all about the interest rate. While the rupee fell 0.3 per cent versus the US dollar this year, flows from stock investors turned positive in March amid slower inflation, an improved current account and
      BLOOMBERG  -  628 words
  • Page 19 Advertisements

  • 677 20 Most steel companies have been hit by plunging prices due to overcapacity in China REUTERS Mumbai INDIA’S Tata Steel, Britain’s largest steelmaker, put its entire UK business up for sale to stem heavy losses, a move that would draw a line under
    REUTERS  -  677 words
  • 569 20 It is among the first major forays of a utility into management services NYT Rosemead, California BETTING that the future of the power industry lies in selling far more than just energy, Edison International, parent to one of the largest electric utilities in the United
    NYT  -  569 words
  • Page 20 Advertisements
    • 3294 20 SWIBER HOLDINGS LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****4721N) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting (“AGM”) of Swiber Holdings Limited (the “Company”) will be held at 12 International Business Park, #03-02 Swiber@IBP, Singapore *****0, on Friday 15 April
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  • 921 21  -  No cheer in sight for oilfield services firms By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore OIL companies may have claimed they have trimmed their per-bar-rel-costs to US$30s, but they are still going for deeper cuts despite signs of an oil price rebound
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  • 322 21 BLOOMBERG Hong Kong CHINA Petroleum Chemical Corp (Sinopec) led gains among the country’s state-run energy giants after earnings beat estimates as profit from oil refining helped offset the plunge in crude prices. Asia’s biggest refiner reported a 30 per cent
    BLOOMBERG  -  322 words
  • Page 21 Advertisements
    • 3388 21 YEO HIAP SENG LIMITED (Registration No: *****0138Z) (Incorporated in Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Sixtieth Annual General Meeting of the Company will be held at The Auditorium, Yeo Hiap Seng Limited, 3 Senoko Way Singapore *****7 on Friday, 22 April 2016, at 4.00
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  • Page 23 Advertisements
    • 3551 23 NOTICES TOLL FREE 18 0 0-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices COSCO CORPORATION (SINGAPORE) LIMITED (Incorporated in the Republic of Singapore) Company Registration No.: *****0159G NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the Annual General Meeting of the Company will be held at Suntec Singapore International Convention
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  • CONSUMER
    • 726 24 Creator of the Swedish furniture empire famous for its thrift, style and convenience, Ingvar Kamprad is also known for alleged tax avoidance AFP Stockholm IKEA founder Ingvar Kamprad, who built a global business empire with revolutionary flat-pack furniture and dallied with Nazism in his youth,
      AFP; AFP FILE PHOTO  -  726 words
    • 454 24 BLOOMBERG Tokyo SEVEN i Holdings Co was set to meet this week to discuss leadership succession, days after billionaire activist investor Dan Loeb warned Japan’s largest retailer against creating a family dynasty, according to people with knowledge of the
      BLOOMBERG  -  454 words
    • 305 24 AFP Los Angeles UNITED States and Hong Kong authorities have smashed a massive operation smuggling Chinese-made clothing, believed to be the largest such find ever uncovered on the US West Coast. The elaborate scheme involved more than US$600 million worth of Chinese-made
      AFP  -  305 words
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  • Page 25 Advertisements
    • 1244 25 NOTICES TOLL FREE 18 0 0-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices HPHT HUTCHISON PORT HOLDINGS TRUST (A business trust constituted on 25 February 201 1 under the laws of the Republic of Singapore) (Registration No.: 201 1001) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General
      1,244 words
    • 2412 25 PLASTOFORM HOLDINGS LIMITED (Company Registration Number: *****) (Incorporated in Bermuda) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of PLASTOFORM HOLDINGS LIMITED (“the Company”) will be held at Grand Mercure Roxy Hotel, 50 East Coast Road, Roxy Square, Amber Room, Level 3, Singapore *****9
      2,412 words

  • GOVERNMENT & ECONOMY
    • 497 26  -  Some manufacturers see some lift in March and April, but Trade ministry is non-committal on outlook By Anthony Rowley btworld@sph.com.sg Tokyo JAPAN’S industrial output fell at its fastest rate in five years in February, lending support to the likelihood that
      PHOTO: REUTERS  -  497 words
    • 726 26 AFP Naypyidaw MYANMAR entered a new era on Wednesday as Aung San Suu Kyi’s democracy movement took power after 50 years of military domination, with a close aide of the Nobel Laureate sworn in as president. Htin Kyaw,
      AFP; PHOTO: REUTERS  -  726 words
    • 524 26 REUTERS AFP New Delhi EMBATTLED Indian tycoon Vijay Mallya has proposed to repay 40 billion rupees (S$815 million), less than half of what his defunct Kingfisher Airlines owes to creditor banks who have approached the nation’s highest court to
      REUTERS; AFP  -  524 words
    • 626 26 BLOOMBERG Hong Kong CHINA is moving to tighten its grip over the Internet through draft rules that effectively ban Web addresses not approved by local authorities, including possibly the most widely used .com and .org addresses. The Ministry of Industry and Information Technology
      BLOOMBERG  -  626 words
    • 286 28 REUTERS Beijing THE Chinese government warned Taiwan on Wednesday that the passage of a proposed new law governing relations between the two could seriously damage the basis for talks, and that Beijing opposed any obstacles to developing ties. China has looked
      REUTERS  -  286 words
    • 663 28 But ECB has said it’s confident it has an “adequate” universe of assets to buy BLOOMBERG London AS European Central Bank governor Mario Draghi prepares to increase and broaden his bond-buying programme, the shrunken market might be in for a
      BLOOMBERG; PHOTO: REUTERS  -  663 words
    • 349 28 BLOOMBERG Warsaw EURO-AREA economic confidence fell to the lowest level in more than a year just as the European Central Bank deployed fresh stimulus to spur growth and quash the threat of deflation. An index of executive and consumer confidence slumped
      BLOOMBERG  -  349 words
    • 337 28 BLOOMBERG New York THE Malaysian state investment company at the centre of multiple financial probes said it will repay RM6 billion (S$2.1 billion) in coming weeks as asset sales give it room to pare down debt. 1Malaysia Development Bhd (1MDB) won’t have
      BLOOMBERG; PHOTO: REUTERS  -  337 words
    • 935 29 Central bankers already pressing against the limits of their powers; threat of recession still around BLOOMBERG Washington CENTRAL bankers have managed to steer the world economy clear of a recession while leaving it stuck in the same rut that led to
      BLOOMBERG  -  935 words
  • Page 26 Advertisements
    • 186 26 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF AQUARIUS 2011 PTE. LTD. Company Regn No *****1892R (In Members’ Voluntary Liquidation) NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50, that a Final General Meeting of the members of the
      186 words

  • Page 27 Advertisements
    • 815 27 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF QINGJIAN CONSTRUCTION (SINGAPORE) PTE. LTD. (In Member’s Voluntary Liquidation) Company Reg. No. *****3162M At an Extraordinary General Meeting of the Company deemed to have been duly convened and held pursuant to Section 179(6) of the
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  • Page 28 Advertisements
    • 196 28 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF MENG GARDEN HOLDINGS PTE. LTD. (Company No: *****1946C) (In Members’ Voluntary Winding Up) NOTICE OF FINAL MEETING NOTICE is hereby given that pursuant to Section 308 of the Companies Act, Cap. 50 the Final Meeting
      196 words
    • 160 28 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 and IN THE MATTER OF FMS MANAGEMENT SERVICES PTE. LTD. Company Regn No *****7291N (In Voluntary Liquidation) NOTICE IS HEREBY GIVEN that the Creditors of the abovenamed Company, which is being wound up voluntarily, are required on or before 03rd May
      160 words


  • TRANSPORT
    • 428 30 Move part of broader effort to lower costs amid fierce competition from Airbus BLOOMBERG Chicago BOEING Co plans to slash about 4,000 jobs from its commercial airplane unit by mid-year as part of a broader effort to reduce costs amid fierce
      BLOOMBERG  -  428 words
    • 463 30 BLOOMBERG Sydney VIRGIN Australia Holdings’ largest shareholder said it’s considering exiting the airline, days after the Australian carrier tapped its biggest investors for fresh funds. Air New Zealand, which owns a 25.89-per cent stake in Virgin Australia worth about A$343 million
      BLOOMBERG  -  463 words
    • 441 30  -  This facility, to be completed in 2017, will enable it to triple its capacity for repairs and maintenance activities By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore AIRPORT-services provider dnata Singapore has broken ground on the site of its S$ 17 million maintenance base
      441 words
    • 760 30 AFP Brussels BRUSSELS airport did not reopen on Wednesday despite drills to test resuming partial services after the suicide bombings that struck its departure hall and a metro train, as Belgium lowered the death toll to 32. Zaventem airport has been closed since
      AFP; PHOTO: REUTERS  -  760 words
  • Page 30 Advertisements
    • 44 30 What next after SG50? Will Singapore see 2065? Will politics here become more primal or pragmatic? Leading thinkers Peter Schwartz, Saskia Sassen and Bilahari Kausikan ponder these questions in a new book. GET A COPY NOW! Now available at all major bookstores and www.stpressbooks.com.sg
      44 words
    • 17 30 m r Buying y Opportunities Property Outlook 2016 Download at |SRX srx.com.sg/property-magazine comsg Right Home. Right Price.
      17 words

  • Page 31 Advertisements
    • 928 31 the Business times Shipping times 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
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  • OPINION
    • 535 32 EDITORIAL THERE is one important reason why the deadly attacks by terrorists affiliated with ISIS on the airport and the metro system in Brussels on March 22 are so troubling: The authorities in Belgium had anticipated that radical Islamists groups would seek to
      535 words
    • 806 32  -  THE BOTTOM LINE By Frank Ching T The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 THE impact of the latest healthcare scandal in China, this time involving the sale of illegal vaccines, is spreading as officials
      806 words
    • 1031 32  -  New technologies have forced business models and revenue streams to evolve and the ability to keep up with changes will determine Singapore’s survival. BY ANG THIAM GUAN SINGAPORE BUDGET 2016 survival.BY ANG THIAM GUAN The writer is managing director of Cisco Singapore and Brunei. Technological
      FILE PHOTO  -  1,031 words
    • 977 33  -  COMMENTARY By Frank-Jurgen Richter TThe writer is founder of Horasis, a global visions community. Its inaugural Horasis Global Meeting will be held in Liverpool on June 13-14 as part of Britain’s International Festival for Business. GEORGE Osborne, Chancellor of
      977 words
    • 511 33  -  LETTER TO THE EDITOR Ang Hao Yao ACCORDING to media reports, there are plans to review the quarterly reporting regime for listed companies. I have been an active retail investor in the local stock market for over 20 years. Since the introduction
      511 words
    • 1043 33  -  Obama may want to ensure strongest possible set of outcomes at the Nuclear Security Summit. BY ANDREW HAMMOND Summit.BY ANDREW HAMMOND T The writer is an associate at LSE IDEAS (the Centre for International Affairs, Diplomacy and Strategy) at the London School of
      PHOTO: REUTERS  -  1,043 words
    • 659 33  -  COMMENTARY By Denis MacShane TThe writer is a former minister of Europe and a senior adviser at Avisa Partners. He is a member of the Official Monetary and Financial Institutions Forum advisory board. This is part of an OMFIF series on the UK EU
      659 words


  • LIFE & CULTURE
    • 636 34 She had won an Academy Award at age 16 for her portrayal of activist Helen Keller in The Miracle Worker AFP Los Angeles ACTRESS and singer Patty Duke, who won an Oscar at age 16 for her portrayal of deaf-blind political activist Helen
      AFP; PHOTO: AFP  -  636 words
    • 831 34 NYT Washington TWO months ahead of a federal court hearing on US President Barack Obama’s signature climate change rule, a coordinated public relations offensive has begun modelled after the same-sex marriage campaign to influence the outcome of the case. A national coalition of
      NYT  -  831 words
    • 1012 34 NYT Paris THE pithiviers de canard at Clown Bar, a historic restaurant in Paris with circus-themed glazed tiles from the 1920s, is an exquisite rendering of a classic dish. Duck breast surrounded by minced duck meat, topped with duck foie gras and baked inside a
      NYT; PHOTOS: NYT  -  1,012 words
  • Page 34 Miscellaneous
    • 325 34 CRYPTIC CROSSWORD Across 1 Mark from a wound allowed to become red (7) 5 Feel doubt (7) 9 A king has challenger coming (7) 10 Warning: pulse regularly dropped after test (7) 11 Illumination that could be low level initially in time of darkness (9) 12 Smallest let out, we
      325 words