The Business Times, 23 June 2016

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Microfilm: NL33883
Total Pages: 24
1 24 The Business Times
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  • Title Section
    Lock icon Masthead
    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, June 23, 2016
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  • Article, Illustration
    Lock icon DAILY DIGEST
    216 1 After years of blistering expansion that outperformed much of the developed world, Asia-Pacific banks are converging to the norm of modest growth and steady return on equity, says McKinsey Co. TOP STORIES 2 IE Singapore says it is preparing Singaporeans and companies to capture overseas opportunities, even as
    216 words
  • Article
    Lock icon MARKETS
    25 1 Wednesday Change STI 2,786.13 -3.32 KL COMP CLOSED NIKKEI 225 16,065.72 -103.39 HANG SENG 20,795.12 +126.68 SHENZHEN B 1,075.48 +7.29 DOW(11.45AM EDT) 17,852.95 +23.22
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  • Article
    Lock icon Temasek unit prices US$510m PE fund bonds amid strong demand
    1458 1  -  Temasek’s brand name and low interest rates fanned interest in issue, but analysts warn of high risk and poor disclosure for this asset class By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore A unit of Temasek Holdings has priced and launched US$510
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  • Article, Illustration
    Lock icon Britons to make most significant decision in voting lifetime
    1177 1  -  By Neil Behrmann btworld@sph.com.sg London TODAY, the British people will make the most important voting decision in their lives by choosing whether the UK should continue to be a nation within the European Union (EU). They will vote on the referendum
    PHOTO: AFP  -  1,177 words
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  • TOP STORIES
    • Article
      Lock icon Are the golden days of Asia-Pac banks behind them?
      780 2  -  They are showing only modest growth and flat returns on equity after years of impressive expansion: McKinsey By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore AFTER years of blistering expansion that outperformed much of the developed world, Asia-Pacific banks are converging to the
      780 words
    • Article, Illustration
      Lock icon Yellen avoids being overly alarmist about probable global impact of Brexit
      493 2 BLOOMBERG Washington FEDERAL Reserve chair Janet Yellen sought to avoid taking sides or being overly alarmist about the probable global fallout should Britain exit the European Union (EU), even as she reiterated that such an event could have “significant
      BLOOMBERG; PHOTO: BLOOMBERG  -  493 words
    • Article
      Lock icon Lower levies for safety-trained construction workers
      239 2  -  By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore FROM October, lower levies will be payable for foreign construction workers trained in specific safety standards; these workers will also enjoy longer employment periods. Instead of S$650, the levy payable for these workers will be S$300. Their maximum
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    • Article
      Lock icon S’pore includes yuan investments in foreign reserves
      413 2  -  By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore RENMINBI (RMB) financial investments of Singapore’s central bank are now included as part of its official foreign reserves (OFR), underscoring the strong economic ties the Republic has with China. The Monetary Authority of Singapore (MAS) said on
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    • Article
      Lock icon IE Singapore gives local firms a talent boost
      544 3  -  It counsels companies on manpower strategies and partners them to prepare PMEs for international careers By J Lossini jlossini@sph.com.sg Singapore INTERNATIONAL Enterprise (IE) Singapore has said it is preparing Singaporeans and companies to capture overseas opportunities, even as they come up against
      544 words
    • Article, Illustration
      Lock icon Technology blurring line between physical, digital worlds: panellist
      590 3  -  By Aqil Luqman Nurhakim nluqman@sph.com.sg Singapore THE Internet of Things (IOT) and other new technologies are set to change how businesses and consumers interact, said a panel at the roundtable session of the 2016 Asia Business Series. The roundtable is the first
      PHOTO: AIDAN LOO  -  590 words
    • Article
      Lock icon COE premiums up across the board
      419 3  -  By Samuel Ee samuelee@sph.com.sg Singapore CERTIFICATE of entitlement (COE) premiums rose across the board on Wednesday, with those for passenger cars continuing their ascent as dealers sought to fulfil the deluge of orders received after the loan curbs were relaxed nearly a month ago.
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    • Article
      Lock icon Focus on philanthropy at UBS forum this week
      288 3  -  By Tan Effie taneffie@sph.com.sg Singapore THE exponential rise in wealth creation in Asia has been accompanied by a surge in interest in philanthropy and impact investing on the part of the wealthy in the region. “Philanthropy has emerged as a trans-generational force
      288 words
    • Article
      Lock icon Brexit will not be a ‘Lehman moment’: UBS
      530 4  -  While a “Leave” vote will upset markets, UBS analysts see damage being contained, given the tools available to central banks today BREXIT JITTERS By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore THERE is a lot to lose should the United Kingdom (UK) leave the
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    • Article, Illustration
      Lock icon Populist, anti-expert mood shaping Brexit supporters’ views
      1201 4 WP London BRITISH Prime Minister David Cameron was only minutes into a final push to persuade his country to stay in the European Union (EU) this week when he invoked the e-word: experts. “It’s not just the ‘remain’ side,” he said, rattling off
      WP; PHOTO: AFP  -  1,201 words
    • Article, Illustration
      Lock icon Europe divided on the way forward after Brexit vote
      814 4 AFP Berlin EUROPEANS will have to struggle to drag the European Union out of the doldrums after Britain’s vote on Thursday, with a public hostile to further integration while Berlin and Paris are at odds over the way forward. Whatever the
      AFP  -  814 words
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  • Page 3 Advertisements
    • Advertisement
      Lock icon Page 3 Advertisements Column 1
      24 3 CHINA: AN INSIDER’S PERSPECTIVE Singaporeans from SMEs enjoy up to 70%* off course fees EMPOWERING FUTURE LEADERS WITH CHINA-READY SKILLS StrategicPartner: Organ i sers
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Cross-selling: key to Aviva Singapore’s survival
      855 5  -  HOCK LOCK SIEW BY CLAIRE HUANG huangjy@sph.com.sg @ClaireHuangBT NOW that the easy part is over, what’s left for composite insurer Aviva Singapore to do is the hard part to quickly devise and execute realistic strategies that it should already have in place, in order
      PHOTO: BLOOMBERG  -  855 words
    • Article
      Lock icon HKEx to begin Shenzhen Connect tests on June 27
      168 5 REUTERS Hong Kong THE Hong Kong Stock Exchange will begin market tests for a long-awaited stock trading link with Shenzhen on June 27, the bourse said in a circular published on its website late on Tuesday. The testing environment will allow
      REUTERS  -  168 words
    • Article
      Lock icon Gold slides for third day as speculation grows that Britain will stay in EU
      350 5 BLOOMBERG Singapore GOLD fell for a third day on speculation that Britain will probably vote to stay in the European Union in a referendum on Thursday, undercutting demand for haven assets. Bullion for immediate delivery dropped
      BLOOMBERG  -  350 words
    • Article, Illustration
      Lock icon Australia’s MMA catches eye of Singapore tycoon
      628 6  -  Michael Kum emerges as the largest shareholder of the marine logistics service provider By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore SINGAPORE-BASED tycoon Michael Kum, a hotelier who is also no stranger to the offshore and marine (O&M) sector, has emerged this week as
      PHOTO: BLOOMBERG  -  628 words
    • Article
      Lock icon Trendlines associate ET View to be sold for US$16m
      375 6  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore ET View Medical, a manufacturer of airway visualisation products in which Catalist-listed The Trendlines Group has a 26.46 per cent stake, is to be sold to Denmark-based Ambu A/S for US$16 million. Trendlines announced on
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    • Article, Illustration
      Lock icon World’s first Japan Rail Cafe coming to Singapore: GuocoLand
      489 6  -  By Grace So graceso@sph.com.sg Singapore GUOCOLAND on Wednesday announced that it will be bringing the world’s first Japan Rail Cafe to Singapore among a slew of new-to-market food-and-beverage (F&B) concepts that represent a 70 per cent take-up of retail space at
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    • Article
      Lock icon Abu Dhabi bank deal likely to be merger of equals, not takeover: sources
      431 6 BLOOMBERG London ABU Dhabi’s planned consolidation of two of its largest banks is unlikely to be structured as a takeover of National Bank of Abu Dhabi PJSC by First Gulf Bank PJSC, according to people familiar with
      BLOOMBERG  -  431 words
    • Article, Illustration
      Lock icon ARA bidding for 50% stake in Capital Square: sources
      457 7 If successful, it will add to recent spate of deals in the CBD as falling rents, large supply push valuations lower BLOOMBERG Singapore ARA Asset Management Ltd is bidding for a stake in Capital Square in Singapore’s central business district, according
      BLOOMBERG; BT FILE PHOTO  -  457 words
    • Article, Illustration
      Lock icon China slowdown casts long shadow over Hong Kong and Singapore
      914 7 BLOOMBERG Hong Kong ASIA’S financial hub twins, Hong Kong and Singapore, are facing increasing brakes on growth even before potential turmoil from a Brexit vote in their ex-colonial master, with China’s slowdown and the continuing shrinkage of the financial industry
      BLOOMBERG; PHOTO: AFP  -  914 words
    • Article
      Lock icon Blackstone buys stake in Marathon
      429 7 BLOOMBERG New York BLACKSTONE Group LP bought a minority stake in Marathon Asset Management, a move that will provide the US$12.8 billion hedge fund firm with permanent capital and help it to grow. Marathon, which focuses on dis-tressed-debt investing, will retain its independence and control
      BLOOMBERG  -  429 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 8 STI Catalist Straits Times Index June 22,2016 2,786.13 -3.32 (-0.12%) Current streak 2 days Day high 2,815.22 Day low 2,786.13 52-week high 3,373.48 (July 20, 2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist index June 22,2016 436.84 -3.55 (-0.81%) Current streak 1 day Day high 440.22 Day low
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    • Article
      Lock icon GAINERS
      74 8 BY CENTS CLOSE UP 52w high/low DBXT E50 US$ 4491 69.8 1.2 5249/3968 Lyxor ChinaH US$ 1235 57.7 3.6 1888/999 DBXT China50 US$ 2810 52.3 1.4 3942/2355 DBXT MSKorea US$ 5363 48.3 0.7 5677/4478 CIMBASEAN40 US$ 841 38.9 3.6 957/700 BY PERCENTAGE CLOSE UP 52w high/low Blumont 0.2 100.0
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    • Article
      Lock icon LOSERS
      71 8 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -178.4 -1.1 *****/***** Lyxor Nasdaq US$ 1752 -51.0 -2.1 1865/1557 DBXT Vietnam US$ 2406 -16.1 -0.5 2786/2017 Venture Corp 844 -13.0 -1.5 868/765 Luxking 26 -10.0 -27.8 76/25.5 BY PERCENTAGE CLOSE DOWN 52w high/low Infinio 0.2 -71.4 -0.5 0.7/0.1 CPH
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    • Article
      Lock icon UNUSUAL ACTIVITY
      79 8 VOL CLOSE($) CHANGE Infinio 1,800.3 0.002 -0.005 -71.43 Luxking 6.8 0.260 -0.100 -27.78 CMC Infocomm 43.6 0.060 +0.019 +46.34 Novo 3.7 0.380 -0.050 -11.63 LionGold 49,886.1 0.003 +0.001 +50.00 Hoe Leong 500.1 0.025 -0.002 -7.41 Elektromotive 4,145.2 0.003 -0.001 -25.00 Zhongxin Fruit 372.1 0.010 -0.001 -9.09 Dukang 138.5
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    • Article, Illustration
      Lock icon Volatile session as STI sinks into the red
      622 8  -  Market volume poor at S$782 million, on cautious trading ahead of the UK’s “Brexit” vote STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT RISK on or risk off? Clearly, traders in the local market on Wednesday were unable to decide, as the Straits Times
      Source: Bloomberg  -  622 words
    • Article
      Lock icon STI STOCKS
      305 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 233 +1 235/233 253 209 6.6 6145 CapitaCom Trust 142 +0.5 143/141.5 157.5 122.5 6.1 4198 CapitaLand 298 -3 304/297 358 267 11.9 3 *****.3 CapitaMall Trust 203 +1 207/203 224 184.5
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    • Article
      Lock icon MOST ACTIVE
      32 8 VOLUME LionGold 49,886,100 Noble 40,503,400 Ezra 39,790,000 Annica 37,000,000 SingPost 24,827,900 Market volume 1,244,494,000 VALUE Singtel 68,081,351 DBS Grp 54,753,152 OCBC Bank 49,649,160 SingPost 37,694,869 UOB 36,896,970 Market value 814,754,000
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    • Article
      Lock icon SGX ETFs
      112 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 285 552 286/285 343/254 284/285 Nikko AM STI ETF 290 cd +1 528 292/290 347/259 289/290 7 IS MS INDIA US$ US680 -5 120 685/679 780/575 680/683 85 DBXT MSCHINA US$ US1166 +14 76
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Jun 22 VALUE CLOSE BT OB/OS -530.00 -106.00 BT CADI -*****.00 -28.00 BT 10-day MA -*****.00 -53.00 FTSE ST Mid Cap 662.17 -1.08 FTSE ST Small Cap 383.63 -0.75 FTSE ST All Share 679.43 -0.64 FTSE ST China Top 158.16 +0.51 FTSE ST China 186.33 +0.48 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 8 STI FTSE ST All-Share ftse ST All-Share index June 22,2016 679.43 -0.64 (-0.09%) Current streak 2 days Day high 684.93 Day low 679.43 52-week high 806.37 (July 20, 2015) 52-week low 625.37 (Jan 21, 2016)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE index June 21,2016 1,659.04 +5.85 (+0.35%) Current streak 3 days Day high 1,665.32 Day low 1,649.76 52-week high 1,922.70 (June 22, 2015) 52-week low 1,492.43 (Feb 12, 2016)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 7 5 1 0 0 4 7 5 Manufacturing 30 40 23 9 6 10 39 46 33 Commerce 14 17 14 4 3 6 18 20 20 Tpt/Stor/Comms 15 11 9
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      122 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 13,573 4,682 18,255 39,455 948 40,402 Manufacturing 63,174 108,030 171,204 79,020 951 79,972 Commerce 63,411 17,109 80,520 60,942 307 61,249 Tpt/Stor/Comms 120,396 656 121,052 167,891 59 167,950 Finance 27,387 3 27,390 167,022 167,023 Construction 12,983
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    • COMMENTARY
      • Article
        Lock icon Singapore
        83 8 UOB Kay Hian, June 22 Our recent marketing trips to Taiwan and Malaysia suggest that investors should remain selective in Singapore given the lack of earnings clarity and an uncertain external outlook. The market could range trade and we would look to stock picking to outperform. Our key picks
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      • Article
        Lock icon Ezion Holdings | Hold
        157 8 Ezion Holdings Hold Target price: S$0.55 June 22 close: S$0.52 OCBC Investment Research, June 22 With the downturn in the oil and gas industry, offshore players are increasingly looking at the offshore windfarm industry for vessel deployment and newbuild opportunities. Among the SGX-listed companies, Ezion Holdings has three liftboats/service rigs
        157 words
      • Article
        Lock icon Singapore Post Ltd | Sell
        191 8  - Singapore Post Ltd Sell Compiled by Claire Huang Target price: S$1.29 June 22 close: S$1.505 Maybank Kim Eng, June 22 Singpost announced the resignation of chief operating officer Sascha Hower on June 21 to pursue overseas opportunities. He will be leaving in August. In less than a year, three senior
        191 words
    • Article
      Lock icon CALENDAR
      13 8 DATA I June 23 S’pore Consumer Price Index US initial jobless claims
      13 words
    • Article
      Lock icon Sterling and euro firm ahead of Brexit vote
      419 9 CURRENCIES REUTERS London STERLING and the euro edged higher on Wednesday, the last day of campaigning before Britain’s referendum on European Union membership, the pound trading just off its highest this year after a swing in polls towards the “Remain” camp this
      REUTERS  -  419 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Jun 22 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.957 4.926 0.664 5.805 50.544 99.374 0.781 8.640 3.018 1.048 78.343 34.889 1.004 11.045 0.719 24.089 26.363 0.511 0.748 Canada 1.045 5.149
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 9 Jun 22 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0035 1.0046 0.7481 0.7485 Canadian dollar 1.0489 1.0498 0.7822 0.7819 Euro 1.5119 1.5135 1.1271 1.1276 NZ dollar 0.9578 0.9589 0.7140 0.7144 Sterling pound 1.9656 1.9673 1.4653 1.4657
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Jun 22 S$ Bid Offer 1-month 1.3414 1.3424 2-months 1.3417 1.3429 3-months 1.3421 1.3434 6-months 1.3435 1.3445 Source: OCBC
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      • Article, Illustration
        Lock icon HANG SENG
        2 9
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      • Article, Illustration
        Lock icon NIKKEI
        1 9
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 9
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      • Article, Illustration
        Lock icon DOW JONES
        2 9
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        381 9 Jun 22 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Jun16 9202.50 9277.50 9172.50 9260.00 *****5 *****5 Jul16 9070.00 9170.00 9057.50 9150.00 *****4 ***** NIKKEI 225 INDEX FUTURES Sep16 *****.00 *****.00 *****.00 *****.00 ***** *****3 Dec16 *****.00 *****.00 *****.00 *****.00 5 5356 MSCI TAIWAN
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        211 9 Most active Jun 22 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Elektromotive Group w*****5 0.1 -0.1 ***** 1 1 47 Rowsley Ltd W*****3 0.3 unch 6355 1 18 4 DBS MB eCW*****1 11 0.1 4812 0.1 1620 4
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        377 9 In local curr In S$ In US$ dy yr dy yr dy yr Jun 21 Index Change Change Change Change Change Change World Preliminary 1253.6 0.3 -1.9 0.2 -5.1 0.2 0.3 EAFE Preliminary 931.0 0.6 -8.1 0.3 -8.6 0.4 -3.3 Europe Preliminary 1330.2 0.5 -5.8
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 Jun 22 $S Offer Bid 0vernight 0.03 Par 1-month 0.7500 0.6250 2-months 0.9375 0.8125 3-months 1.0000 0.8750 Overnight mode: N.A. US$ Offer Bid 7 days 0.50 0.40 1 month 0.52 0.42 2 months 0.65 0.45 3 months 0.80 0.60 6 months 1.10 0.90 9 months 1.30 1.10 12
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      • Article
        Lock icon GOVERNMENT SECURITIES
        65 9 Jun 22 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0T 0.500 01-Apr-18 99.11 5-Year NX*****X 2.250 01-Jun-21 103.35 103.38 103.28 10-Year NX*****F 2.125 01-Jun-26 100.87 100.90 100.30 15-Year NZ*****F 2.875 01-Sep-30 106.62 106.60 106.20 20-Year NZ*****V 3.375 01-Sep-33 113.7 113.85 113.85
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 9 Jun-21 Price Net change change Last Trade Agricultural Jun-21 CBOT Soybeans (US cents/bu) 1133.25 -10.25 -0.90% 14/07/2016 CBOT Soybean Oil (US cents/lb) 31.36 -0.28 -0.88% 14/07/2016 CBOT Wheat (US cents/bu) 458.50 -14.50 -3.07% 14/07/2016 Jun-21 LIFFE Cocoa (£/tonne) 2270.00 7.00 0.31% 14/07/2016 LIFFE Coffee (US$/tonne) 1683.00 18.00 1.08%
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    • Article
      Lock icon SGX MAINBOARD
      1736 10 Transaction date: Jun 22 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Company Last Sale Vol ('000) High Day 151.5 127 AIMSAMP Cap Reit 133.5 -0.5 539 135.5 133 0.9 8.5 849.7 Div 170.7 101 ARA Asset Mgmt
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    • Article
      Lock icon SGX CATALIST
      277 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Last vol Day Div GrYld Net MCap High LOW Company Sale (OOO) High LOW C'vr P/E 8.8 10 35.5 16.7 t CNMC Goldmine 34 -1 2854 34.5 33.5 3.9 2.3 9.2
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    • Article
      Lock icon SGX ETF
      139 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale 957 700 CIMBASEAN40 US$ US841 +29 1 841 841 131.9 3942 2355 DBXT China50 US$ US2810 +39 22 2815 2770 7.7 Day 1613 995 DBXT MSCHINA US$ US1166
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
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      Lock icon Page 6 Advertisements Column 1
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      Lock icon Page 7 Advertisements Column 1
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  • Page 10 Advertisements
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Property investment sales in Q2 come to S$6.9b
      1250 11  -  This marks a big jump from last quarter’s S$2.4b and the highest since Q3 2013; office sector is star performer By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore INVESTMENT sales of property or big-ticket transactions of at least S$10 million have hit a high
      Source: Savills Research and Consultancy  -  1,250 words
    • Article, Illustration
      Lock icon Pricey Swiss mortgages add to Brexit battering of Poland’s zloty
      771 11 BLOOMBERG Warsaw THE US$36 billion of Swiss-franc mortgages owed by Poles is giving investors another reason to avoid a country they already see as among the most at risk if the UK votes to leave the European Union on Thursday.
      BLOOMBERG; PHOTO: REUTERS  -  771 words
    • Article, Illustration
      Lock icon 77 Robinson Road back on market – again
      452 12  - 77 Robinson Road back on market again Former SIA Building has been relaunched for sale at guide price of about S$575 million or S$1,960 psf By Renald Yeo yrenald@sph.com.sg Singapore THEY say that the third time’s the charm. For 77 Robinson Road, formerly known as the Singapore Airlines (SIA) Building,
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    • Article
      Lock icon How to survive being an Airbnb host
      1438 12  -  By Jeannie Ralston NYT Austin, Texas AFTER my first Airbnb guests checked out of our garage apartment last February, I eagerly called up their online review. I had no reason to suspect anything but flattering comments from the two young women from Oregon,
      NYT  -  1,438 words
    • Article
      Lock icon GIC in talks to sell 2 Paris CBD buildings: sources
      241 12 BLOOMBERG Berlin GIC Pte Ltd, Singapore’s sovereign wealth fund, is in talks to sell two buildings in Paris’s central business district valued at about 500 million euros (S$757 million) to Societe Generale’s insurance unit, according to people with knowledge of
      BLOOMBERG  -  241 words
    • Article
      Lock icon Starwood selling US malls it got from Westfield: sources
      200 12 BLOOMBERG New York STARWOOD Capital Group LLC hired Eastdil Secured LLC to broker the sale of US malls valued at about US$ 1.2 billion, according to two people with knowledge of the matter. Starwood is selling malls that it had acquired
      BLOOMBERG  -  200 words
    • Article, Illustration
      Lock icon Hao Yuan’s Northwave EC likely to be priced at average S$760 psf
      749 13  -  E-application will open from Saturday till July 7, booking is expected to begin on July 9 By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore HAO Yuan Investment is expected to price its executive condominium (EC) project Northwave at an average
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    • Article
      Lock icon Househunt
      1568 13 Property transactions for districts 2 to 17 with contract dates between May 11 and May 17,2016 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 2 NON-LANDED Int'l Plaza Apt 13/05/2016 99 1604 1550 966 District 3 NON-LANDED Highline Residences Apt
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      174 11 FREEHOLD FULL COMMERCIAL HEART OF CHINATOWN CBRE INVESTMENT PROPERTIES Yap Hui Yee (CEA Reg No.: R*****5Z) 9852 3687 Sammi Lim (CEA Reg No.: R*****9J) 9368 9803 FOR SALE: 21 TEMPLE STREET Agency License No.: L*****63I Site area: Approx. 114.6 sq m 1,234 sq ft 1 Current Lettable Area: Approx. 3,400
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      80 11 AUSTRALIAN PROPERTY FINANCE Have you recently bought an Australian property and need a loan to complete the transaction? Already own and want to ensure you have the best loan? CONTACT SPECIALIST MORTGAGE HERE IN SINGAPORE FOR A FREE IMPARTIAL REVIEW OF ALL YOUR OPTIONS. mi W: www.smats.net E: smats@smats.net T:
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      121 11 CAMDEN MEDICAL CENTRE Clinic sizes ranging from 700 square feet For an exclusive viewing, please contact our leasing team 6434 9808 I audrey.seen@pontiacland.com 6602 4506 I cheryl.ng@pontiacland.com 6434 9832 I keith.koh@pontiacland.com One Orchard Boulevard I camden.com.sg 100% consent COLLECTIVE SALE OF LOFT (8 S\^ s p SHOPS 6, 8 LORONG
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      54 12 SINGAPORE Q UALIFIERS presented by TIME TO VIE FOR A SPOT TO REPRESENT SINGAPORE AT THE WORLD AMATEUR GOLFERS CHAMPIONSHIP IN DURBAN, SOUTH AFRICA SIGN UP NOW www.tnp.sg/WAGC SINGAPORE QUALIFIERS 20, 26 JULY 2016 SINGAPORE FINALS 2 AUGUST 2016 ENTRY FEE $480 GOODIE BAG WORTH OVER $750 VENUE TANAH MERAH
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      27 12 www.omy.sg JZ l-H-Graffiti reveals Funan's move "Beyond IT" Chinese Language Content ■g, m-* yo m TiVo w> u 9.1 u •-j SCAN READ 03E0 o o lifestyle.omy.sg
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      27 12 /.7 mm 5 /j* AiS \+n The tale of Romeo and Juliet: Referendum Brexit new .1 f r r 0 0 0 bit.ly/zbBrexit zaobao.sg Chinese Language Content
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  • BANKING & FINANCE
    • Article
      Lock icon Jho Low owns firm linked to 1MDB scandal
      853 14 Source with knowledge of regulatory investigation says that Malaysian financier Low Taek Jho was sole owner of Good Star during its five years as a company REUTERS Kuala Lumpur FOR the past year, the Malaysian government has said that a company called
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    • Article, Illustration
      Lock icon Goodbye, password – as banks opt to scan fingers and faces instead
      1083 14 Goodbye, password as banks opt to scan fingers and faces instead NYT New York THE banking password may be about to expire forever. Some of the largest US banks, acknowledging that traditional passwords are either too cumbersome or no longer secure, are increasingly using fingerprints, facial scans and other types
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    • Article
      Lock icon Inquiry into Bangladesh hack details missteps by staff at central bank
      765 14 BLOOMBERG Dhaka MOST days, Mizanur Rahman Bhuiyan would arrive at the Bangladesh central bank’s accounts department to find a stack of printed money transfer confirmations. On the first Friday of February, he found an empty printer tray. Printer problems
      BLOOMBERG  -  765 words
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      35 14 ALL SET FOR SIIMA Stars from the four south Indian movie industries prepare for awards night in Singapore Goonjfounder Anshu Gupta’s Singapore visit GET YOUR COPY TOMORROW TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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      48 14 “What I value about Fook Kwang’s writings is that he appreciates that things are seldom black and white, and that there is validity in the nonofficial or contrarian narrative.” SYLVIA LIM chairman of Workers’ Party and MP (Aljunied GRC). Now on sale at all major bookstores and www.stpressbooks.com.sg
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      49 14 J U N 1 6 29WEDNESDAY SPH News Centre 9.30am to 6.00pm PRESENTATION SKILLS FOR BUSINESS Trainer Kevin Ryan Price From 25 Jun$589 Early Bird by 24 Jun $489 Productivity and Innovation Credit (PIC) Claimable To register or find out more about our workshops, visit http://learning.stjobs.sg/ workshops STJOBS LEARNING
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  • ENERGY & COMMODITIES
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      906 15 NOTICES T O L L F R E E 1 8 0 0 -2 8 9 8 8 2 2 I E m a i l n o t i c e s s p h c o m s g I w w w s p h c l
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      1163 15 SMARTFLEX HOLDINGS LTD. (Incorporated in the Republic of Singapore) (Company Registration Number: *****3501R) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (the “EGM") of Smartflex Holdings Ltd. (the “Company”) will be held at 11 Eunos Road 8, Lifelong Learning Institute, Event Hall 1-2, Singapore
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      242 15 IN THE MATTER OF THE COMPANIES ACT (CAR 50) AND IN THE MATTER OF GREENS POWER EQUIPMENT INTERNATIONAL PTE. LTD. COMPANY REGISTRATION NO. *****1236D (INCORPORATED IN THE REPUBLIC OF SINGAPORE) (HEREINAFTER REFERRED TO AS THE "COMPANY") NOTICE OF RESOLUTION MEMBER'S RESOLUTIONS IN WRITING PURSUANT TO ARTICLE 63 OF THE COMPANY'S
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      112 15 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF ASIAN GROUPAGE SERVICES PTE. LTD. (IN CREDITORS’ VOLUNTARY LIQUIDATION) (Co Reg. No. *****4132H) FORM 69 (3) NOTICE OF INTENDED DIVIDEND Name of Company: Asian Groupage Services Pte. Ltd. (In Creditors’ Voluntary Liquidation) Address of Registered Office:
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  • TECHNOLOGY
    • Article
      Lock icon FAA issues commercial drone rules; no nod for package delivery
      815 16 NYT Washington The US federal government Tuesday made it much easier for companies to use drones for a variety of tasks, including aerial photography and emergency response. The Federal Aviation Administration’s (FAA) new commercial drone rules allow a broad range
      NYT  -  815 words
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      Lock icon Google tackles challenge of building an honest robot
      955 16 Researchers’ thinking is that the robots’ goals must be aligned with those of their human owners BLOOMBERG San Francisco GOOGLE can see a future where robots help us unload the dishwasher and sweep the floor. The challenge is making sure they don’t
      BLOOMBERG; PHOTO: BLOOMBERG  -  955 words
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      Lock icon Delhi relaxes rules, clears way for Apple stores in India
      815 16 AFP New Delhi THE gleaming glass atriums and blue-clad “geniuses” that herald the arrival of an Apple store could soon be landing in India, after the government cleared the way for it to open in the rapidly growing smartphone market.
      AFP; PHOTO: AFP  -  815 words
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      451 16 NOTICES YUUZOO CORPORATION LIMITED Company Registration Number ***** Incorporated In Bermuda LOST SHARE CERTIFICATES Notice is hereby given that the following share certificates have been reported lost, destroyed or mislaid: Name of Shareholder Certificate No. No. of Shares John J. Ferrera *****7 63,095 John J. Ferrera *****8 111,705 Notice is
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      16 16 Grow Your Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices
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  • CONSUMER
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      Lock icon Samsung takes mobile payments fight to Apple
      909 17 Unlike Apple, the South Korean tech giant views Samsung Pay as an engine to drive sales of its phones and other devices REUTERS Sydney SMARTPHONE leader Samsung Electronics has for years been a spectator as Apple built a services “ecosystem” supporting its products.
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    • Article
      Lock icon Pensions hit FedEx, may weigh on 2017 results
      471 17 REUTERS Chicago PACKAGE delivery company FedEx Corp on Tuesday reported a quarterly loss due to mark-to-mar-ket pension adjustments and expenses related to acquiring Dutch package delivery company TNT, and said it did not know how those two factors would affect its earnings
      REUTERS  -  471 words
    • Article
      Lock icon Qatari investment fund acquires Balmain
      302 17 AFP Paris A QATARI investment fund, already owner of the Italian Valentino label, will take over French luxury fashion house Balmain, which has become a favourite of film stars, the adviser for the acquisition announced on Tuesday. “After completing this transaction, Mayhoola for Investments will
      AFP  -  302 words
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      344 17 M > f 1 3 11i M f< ST JOBS CAREER& DEVELOPMENT2016 JT’S ALL ABOUT future U Future Leaders Summit 2016 (Jul) leaders Powered by NTUC ST Jobs Sat'S: 1 ■iWB Uv-i Si an NTUC nitiative FUTURE-READY CAREERS AMID GLOBAL TRANSFORMATION Amidst globalisation, digitisation and technological advancements, have you ever
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Trump beats Clinton in national poll on investor confidence
      941 18 Voters with money in the market pick the Republican as the person they think will be better for their portfolios BLOOMBERG Chicago MORE voters with a stake in the stock market say Donald Trump would be better as president for their
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    • Article
      Lock icon IMF cuts US growth forecast, urges ‘very gradual’ rate hikes
      526 18 BLOOMBERG Washington THE International Monetary Fund (IMF) cut its forecast for US growth this year, urging the Federal Reserve to lean towards modestly overshooting its inflation target in considering whether the economy can handle higher interest rates. The IMF said
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    • Article
      Lock icon Existing home sales hit 9-year high
      302 18 LATEST US DATA REUTERS Washington US home resales rose in May to a more than nine-year high as improving supply increased choice for buyers, suggesting that the economy remains on solid footing despite a sharp slowdown in job growth last month. The National Association
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      Lock icon Hindu-nationalist politician blasts finance ministry adviser
      506 18 REUTERS New Delhi FRESH from claiming the scalp of Reserve Bank of India (RBI) governor Raghuram Rajan, a Hindu-nationalist politician has turned his fire on a top finance ministry adviser who once worked with Mr Rajan at the International Monetary Fund (IMF). The attack
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    • Article
      Lock icon Britons swop pounds for euros, US$ ahead of vote
      418 18 REUTERS London BRITONS have flocked to swop their pounds for euros and US dollars in the days running up to the European Union referendum, according to foreign exchange bureau companies on Wednesday. Most forecasters expect the pound to fall sharply if
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  • TRANSPORT
    • Article, Illustration
      Lock icon Tesla offers to buy SolarCity for US$2.8b
      663 19 Elon Musk, chairman of SolarCity and CEO of Tesla, calls the proposed deal a “no brainer” REUTERS Los Angeles ELON Musk on Tuesday sought to build a clean-energy powerhouse as his electric car maker, Tesla Motors Inc, made an offer to buy his
      REUTERS; PHOTO: REUTERS  -  663 words
    • Article
      Lock icon Zen and the art of creating software for driverless taxis
      476 19 BLOOMBERG Tokyo HISASHI Taniguchi took a sabbatical from developing software for driverless taxis and drones to go on pilgrimage to a Buddhist temple in western Japan. He shaved his head, donned black robes and studied to become the shrine’s leader.
      BLOOMBERG  -  476 words
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      530 19 POWER OF EFFECTIVE NEGOTIATING, PRESENTING THINKING STRATEGIES Who should attend: Senior and Middle Management, Supervisors, Business Owners, Marketing Managers and Advertising Executives NEGOTIATION GETTING THE BEST DEAL Opportunities appear and disappear quickly in today’s world and those who can efficiently and effectively negotiate a deal will be those who can
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  • OPINION
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      Lock icon S’pore well-placed to adopt and drive payment, fintech innovation
      592 20 EDITORIAL TECHNOLOGY is rapidly changing the financial services industry. The latest is the use of smartphones instead of credit and debit cards to make payment in stores. Singapore is one of the first countries in Asia in which both Apple Pay
      592 words
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      Lock icon Companies need to act now against tax avoidance
      1053 20  -  It’s too risky to take a “wait and see” approach to BEPS as Singapore formally joins hands with other governments to tackle tax avoidance. BY HENRY SYRETT AND JEROME VAN STADEN avoidance.BY HENRY SYRETT, JEROME VAN STADEN T The writers are respectively
      PHOTO: BLOOMBERG  -  1,053 words
    • Article
      Lock icon India’s economic policy will be the poorer after Rexit
      762 20  -  THE BOTTOM LINE By Meghnad Desai T The writer is emeritus professor of economics at the London School of Economics and Political Science, and chairman of the advisory board of the Official Monetary and Financial institutions Forum. He is also founder
      762 words
    • Article
      Lock icon COMMENTARY Populist upheaval supporters have only themselves to blame
      985 21  -  FOCUS ON BREXIT By Anatole Kaletsky TThe writer is chief economist and co-chairman of Gavekal Dragonomics and the author of Capitalism 4.0, The Birth of a New Economy. London THE febrile behaviour of financial markets ahead of the UK’s referendum on
      985 words
    • Article
      Lock icon Welcome, not fear, sterling depreciation buy way of Brexit
      659 21  -  COMMENTARY By Brian Reading T The writer was an economic adviser to former British prime minister Edward Heath and is a Member of the Advisory Board of the Official Monetary and Financial Institutions Forum. REMAINERS say a “Leave” victory will be
      659 words
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      Lock icon Brexit or not, markets will stay volatile due to political events
      1325 21  -  Spanish elections will take place the following weekend after the Brexit vote, and the US is going to the polls in November. BY NEIL DWAYNE November.BY NEIL DWAYNE T The author is global strategist at Allianz Global Investors. AS
      PHOTO: AFP  -  1,325 words
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  • Page 22 Advertisements
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      907 22 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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  • LIFE & CULTURE
    • Article
      Lock icon Picasso, Modigliani boost Sotheby’s sale
      776 23 Picasso’s Femme Assise sells for £43.3 million while Modigliani’s Jeanne Hebuterne (au Foulard) fetches £38.5 million; both exceed estimated targets BLOOMBERG New York PAINTINGS by Pablo Picasso and Amedeo Modigliani gave the auction market a much-needed boost on Tuesday when they fetched the highest prices
      BLOOMBERG  -  776 words
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      Lock icon From Calgary engineer to sommelier: laid-off oil workers try career Plan B
      907 23 REUTERS Calgary, Alberta ALEJANDRO Rodriguez wants to be a sommelier. His previous experience: 20 years as an oil reservoir engineer. The 42-year-old needed to consider a career Plan B after ARC Resources Ltd laid him off in January,
      REUTERS; PHOTO: REUTERS  -  907 words
    • Article, Illustration
      Lock icon Police report detailing Jackson’s porn collection surfaces
      579 23 AFP Los Angeles A NEWLY surfaced police report related to a 2003 raid on Michael Jackson’s Neverland Ranch shows the late pop star’s penchant for pornography and attraction to children. Jackson was acquitted in 2005 of child molestation following a 14-week trial, and
      AFP; PHOTO: BLOOMBERG  -  579 words
  • Page 23 Miscellaneous
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      329 23 CRYPTIC CROSSWORD Across 1 Ray breaking in to burgle, amateurishly (5) 4 East Anglian river fringing lake drink and relax (4,4) 8 Facility in a function held aboard English ship (8) 9 Lowly countryman occupied by hard game (8) 11 Evict number of voters (7) 13 Poor cafe’s wrong to
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