The Business Times, 19 July 2016

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Microfilm: NL33909
Total Pages: 37
1 12 The Business Times
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  • Title Section
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    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 Tuesday, July 19, 2016
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  • Article
    Lock icon DAILY DIGEST
    129 1 Singapore gets a reality check in June with non-oil domestic exports contracting 2.3 per cent, after surging 11.6 per cent in May. TOP STORIES 2 Conmen who speak Mandarin are putting on new disguises to cheat people through phone scams, by pretending to be from at least one
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  • Article
    Lock icon MARKETS
    27 1 Monday Change STI 2,928.76 +3.41 KL COMP 1,670.84 +2.44 NIKKEI 225 Closed HANG SENG 21,803.18 +143.93 SHENZHEN B 1,136.34 +0.13 DOW (10.45 AM EDT) 18,542.47 +25.92
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  • Article
    Lock icon SGX to hive off regulatory functions
    832 1  -  MAS must approve and can also appoint members to board of new independent unit; some say move may sieve out lower-quality listings inititally By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore IN a move welcomed by market watchers as long overdue, the Singapore Exchange (SGX) said
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  • Article
    Lock icon Temasek may take SMRT private: sources
    635 1  -  Analysts say this may be for the best given its transition to a new rail model amid lower operating margins By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore THREE days after SMRT Corp unveiled the long-awaited details of a new rail plan that will turn it
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      71 1 3RD SOUTH ASIAN DIASPORA CONVENTION Singapore-South Asia air connectivity a boon: PM Lee TOP STORIES 4 THE BUSINESS TIMES INTERNAL CONTROLS 3 questions startups should ask themselves SME/26 BT SALUTES ENTERPRISE SALUTES ENTERPRISE 2016 CELEBRATING JOURNEYS As The Business Times marks our 40th anniversary, we fete the journeys of Singapore’s
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      22 1 Forming RegCo should be only the start, Page 2 Spinning off SGX’s regulatory roles: seeds sowed after penny stock saga, Page 6
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  • TOP STORIES
    • Article, Illustration
      Lock icon June NODX crashes back to earth after May’s rebound
      720 2  -  Though reversal was expected, -2.3 per cent retreat was better than consensus forecast By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore SINGAPORE’S non-oil domestic exports (NODX) received a reality check in June with a 2.3 per cent contraction year on year, after surging
      FILE PHOTO  -  720 words
    • Article, Illustration
      Lock icon Forming RegCo should be only the start
      674 2  -  COMMENTARY By R Sivanithy sivan@sph.com.sg @RSivanithyBT Singapore THERE’S little doubt that the market will welcome the Singapore Exchange’s move to set up a separate subsidiary to house and discharge its regulatory functions as, to quote from the SGX press statement, it will make
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    • Article, Illustration
      Lock icon South China Sea issues barely make a splash
      771 2  -  Speakers cite global issues such as rise in insularity, terrorism as threats to China’s transformation FUTURE CHINA GLOBAL FORUM By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore TENSIONS in the South China Sea got only the briefest of mentions at the start of a
      PHOTO: LIANHE ZAOBAO  -  771 words
    • Article
      Lock icon Panellists: Ensure core business is solid when tackling disruption
      355 2  -  By soonwl@sph.com.sg Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore COMPANIES and firms can look to disrupt the industries they are in, but they must ultimately be good at what they are doing, said panellists at the FutureChina Global Forum on Monday. At a
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    • Article, Illustration
      Lock icon Singapore and Sri Lanka launch FTA talks
      589 4  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore SINGAPORE and Sri Lanka launched negotiations for a bilateral free trade agreement (FTA) on Monday, one that aims to promote stronger economic ties and enhance trade flows. The deal inked at the Istana will help lower barriers
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    • Article, Illustration
      Lock icon PM Lee: Better Singapore-South Asia air links will be a boon
      987 4  -  He addresses the challenges of integration and globalisation during dialogue at the South Asian Diaspora Convention By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore BETTER and more convenient air connectivity between Singapore and the countries in South Asia would be a
      PHOTO: LIANHE ZAOBAO  -  987 words
    • Article
      Lock icon PM Lee in Malaysia to witness high-speed rail agreement signing
      444 4  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE prime ministers of Singapore and Malaysia are meeting in Putrajaya on Tuesday to witness the signing of a memorandum of understanding (MOU) on the planned high speed rail (HSR) project linking Kuala Lumpur
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    • Article
      Lock icon OCBC sounds alarm on phone scammers impersonating its staff
      547 5  -  Since July 1, it has received over 1,080 customer calls about such scams, an explosion from just 16 in April By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore MANDARIN-SPEAKING conmen are putting on new disguises to cheat people of their money through phone
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    • Article
      Lock icon S’pore inflation expectation hits a 5-year low
      454 5  -  By Nur Sabrina Azmi nsazmi@sph.com.sg Singapore SINGAPOREANS’ expectation of inflation has fallen to its lowest level since September 2011 on the back of global economic headwinds and the fallout from “Brexit”. The median one-year-ahead headline inflation among polled Singaporean consumers, that is, their
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    • Article
      Lock icon S$15b.2 worth of deals inked at Water Week
      556 5  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore THE Singapore International Water Week (SIWW) held last week produced S$ 15.2 billion in projects, tenders and investments, its organisers said on Monday. This surpasses the S$14.5 billion worth of deals inked at the 2014 edition
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      396 3 Edmund Tie Company Not just a name, but a symbol of change We are re-introducing Edmund Tie Company as an independent real estate consulting firm. While our name was founded in 1995, we offer a change from the norm in an era where the usual no longer works. We deliver
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  • Page 4 Advertisements
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      322 4 Keppel Infrastructure Trust (Business Trust Registration No. *****01) (Constituted in the Republic of Singapore as a business trust pursuant to a trust deed dated 5 January 2007 (as amended)) Notice of Books Closure Date Distribution Payment Date Notice is hereby given that the Register of Unitholders of Keppel Infrastructure Trust
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      Lock icon Page 4 Advertisements Column 2
      28 4 Blow your own trumpet Buy new musical instruments or put up your old ones for sale in CLASS 72 To advertise, call the Print Classified Hotline: 1800-289 9988
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  • Page 5 Advertisements
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      699 5 v V ¥\V "v> V v vYvCs*.., fur expertise can help you navigate ■X..X m 'V V< iec sm Maximise your wealth potential with our investment solutions. Finding value in today’s market can be challenging. Timely access to market insights and an expert team of Investment Advisers can help you
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  • COMPANIES & MARKETS
    • Article
      Lock icon MAS probes case of UOB’s unshredded client data
      479 6  -  Action will be taken against banks which fail to safeguard confidentiality of customer information; Personal Data Protection Commission says it is aware of case By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THE Monetary Authority of Singapore (MAS) is investigating a case involving UOB,
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    • Article
      Lock icon Spinning off SGX’s regulatory role: seeds sowed after penny stock saga
      473 6  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore EVEN from before its listing at the end of 2000, the Singapore Exchange (SGX) has been dogged by much criticism from readers, analysts and writers of The Business Times that commercial considerations will
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    • Article
      Lock icon Put a lid on insurers’ excessive agent buyouts through disclosures
      986 6  -  HOCK LOCK SIEW BY CLAIRE HUANG huangjy@sph.com.sg @ClaireHuangBT THEY say what goes around, comes around, so it is not surprising to witness that some of the insurers who in the past had resorted to poaching insurance agents are now victims
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    • Article
      Lock icon OCBC Bank merges two China units
      290 6  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore OCBC Bank said on Monday that it has merged its two subsidiaries in China OCBC Bank (China) and Wing Hang Bank (China) Limited to form OCBC Wing Hang Bank (China) Limited. The merger would keep it compliant with
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    • Article
      Lock icon Geo Energy buys out a Kalimantan coal mine for US$90m
      524 7  -  Acquisition doubles group’s coal reserves; group to hold talks for billion-dollar supply deal over lifespan of mine By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore GEO Energy Resources has added a third coal mine under its belt that will double its coal
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    • Article
      Lock icon Religare: EC World Reit’s yield not worth the risks
      612 7  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore ONE brokerage has given a “do not participate” call for the upcoming initial public offering (IPO) of EC World Reit, a Chinese logistics-focused real estate investment trust (Reit). Religare cited the need for a higher
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    • CORPORATE DIGEST
      • Article
        Lock icon Sim Lian Group
        91 7 MAINBOARD-listed Sim Lian Group Limited sold 362 or 72 per cent of the 504 units at its executive condominium project Treasure Crest within the first two days of sales over the past weekend. The majority of the homebuyers currently reside in the north-east region of Singapore, specifically
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      • Article
        Lock icon Reed Smith, Resource Law
        68 7 GLOBAL law firm Reed Smith on Tuesday launched a formal alliance with local practice Resource Law to expand the former’s offering in Singapore. Through the alliance, the firm now offers lawyers qualified to advise on English, American, Australian, Hong Kong and Singapore law in areas such
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      • Article
        Lock icon Singapore Post
        90 7 SINGAPORE Post (SingPost) has appointed Sam Ang, group chief executive officer of Famous Holdings and executive vice-president of SingPost, as chief executive of Quantium Solutions. Mr Ang will head both SingPost’s eCommerce logistics arm and freight forwarding operations as well as oversee SP Parcels, SingPost said in a
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      • Article
        Lock icon Out brain
        76 7 CONTENT discovery platform provider Outbrain announced on Monday that it has renewed its multi-year deal with Singapore Press Holdings Limited (SPH). The companies will work together to deliver relevant content recommendations across SPH’s online news platforms, including AsiaOne, The Straits Times, The Business Times, and u-weekly. Tan Su-Lin,
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    • Article, Illustration
      Lock icon STI / Catalist
      63 8 STI Catalist Straits Times index July 18,2016 2,928.76 +3.41 (+0.12%) Current streak 2 days Day high 2,941.15 Day low 2,923.75 52-week high 3,373.48 (July 20, 2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist index July 18,2016 448.41 -8.64 (-1.89%) Current streak 2 days Day high 458.22 Day low
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    • Article, Illustration
      Lock icon STI up 3.41 points in mixed session
      634 8  -  SGX up on news of bourse setting up subsidiary with separate board of directors for frontline regulatory functions STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THE Straits Times Index kicked off the week with a 3.41-point rise to 2,928.76 on Monday, probably influenced by
      Source: Bloomberg  -  634 words
    • Article
      Lock icon STI STOCKS
      306 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 248 +4 249/246 253 209 6.2 6540.6 CapitaCom Trust 158 +1 158.5/156.5 158.5 122.5 5.5 4671 CapitaLand 310 +1 310/307 350 267 12.4 2.9 *****.2 CapitaMall Trust 218 +2 219/216 225 184.5
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    • Article
      Lock icon MOST ACTIVE
      34 8 VOLUME Annica 256,982,900 Noble 146,663,600 Ezra 83,159,400 HLH Grp 63,883,800 Cedar Strategic 45,518,200 Market volume 1,939,188,000 VALUE Singtel 162,331,978 DBS Grp 66,133,938 SPH 50,039,359 UOB 48,474,740 HongkongLand USD 45,540,492 Market value 1,165,447,000
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Jul 18 VALUE CLOSE BT OB/OS 113.00 -30.00 BT CADI -*****.00 -27.00 BT 10-day MA -*****.00 +11.00 FTSE ST Mid Cap 691.63 +0.67 FTSE ST Small Cap 392.04 -0.33 FTSE ST All Share 711.48 +0.46 FTSE ST China Top 163.05 +0.35 FTSE ST China 192.67 +1.41 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 July 18,2016 711.48 +0.46 (+0.06%) Current streak 2 days Day high 713.74 Day low 710.73 52-week high 806.37 (July 20, 2015) 52-week low 625.37 (Jan 21, 2016)
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      Lock icon STI / MSCI EAFE
      34 8 STI MSCI EAFE MSCI EAFE index July 15, 2016 1,650.14 -4.28 (-0.26%) Current streak 1 day Day high 1,662.79 Day low 1,647.36 52-week high 1,894.42 (July 21, 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 6 6 5 0 1 0 6 7 5 Manufacturing 40 44 27 10 9 12 50 53 39 Commerce 14 24 16 1 1 3 15 25 19 Tpt/Stor/Comms 8 20 5
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 11,945 676 12,621 41,578 128 41,706 Manufacturing 104,460 327,684 432,144 137,390 2,636 140,026 Commerce 171,905 8,309 180,214 79,334 293 79,627 Tpt/Stor/Comms 195,043 3,929 198,972 291,575 391 291,966 Finance 23,013 215 23,228 171,456 33 171,489 Construction
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    • Article
      Lock icon GAINERS
      77 8 BY CENTS CLOSE UP 52w high/low SPDR DJIA US$ ***** 1089.8 4.6 *****/***** DBXT STGLDv US$ 3078 105.1 2.6 3117/2731 Prudential USD 1750 94.3 4.2 2500/1680 DBXT Vietnam US$ 2528 63.3 1.9 2786/2017 Haw Par Corp 924 29.0 3.2 924/720 BY PERCENTAGE CLOSE UP 52w high/low Advanced Systems 0.2
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    • Article
      Lock icon LOSERS
      75 8 BY CENTS CLOSE DOWN 52w high/low DBXT iBoxxUSTr US$ ***** -304.4 -1.0 *****/***** JMH USD 5800 -59.3 -0.8 6103/4500 GLD US$ ***** -55.2 -0.3 *****/***** SPDR S&P500 US$ ***** -53.9 -0.2 *****/***** DBXT S&PShort US$ 1953 -26.9 -1.0 2393/1953 BY PERCENTAGE CLOSE DOWN 52w high/low LionGold 0.1 -50.0 -0.1
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    • Article
      Lock icon UNUSUAL ACTIVITY
      80 8 VOL CLOSE($) CHANGE Green Build 15.0 0.150 +0.045 +42.86 Advanced Systems 232.0 0.002 +0.001 +100.00 AIM 2.0 0.190 -0.040 -17.39 CPH 699.8 0.005 +0.001 +25.00 Casa 60.0 0.095 -0.009 -8.65 Raffles United 16.0 0.140 +0.015 +12.00 CMC Infocomm 60.2 0.044 -0.006 -12.00 Innovalues 15,781.5 0.885 -0.145 -14.08 ChinaKundaTech
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    • BROKERS’ TAKE
      • Article
        Lock icon Frasers Centrepoint Trust Sell
        125 8 July 18 close: S$2.17 Target price: S$1.90 Maybank Kim Eng Research, July 18 Results are largely to expectations as medium-term pain from Northpoint’s asset enhancement initiative (AEI) was well anticipated. But the on-going difficulties at Changi City Point (CCP) were less so; vacancy there cratered to
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      • Article
        Lock icon Frasers Centrepoint Trust Buy
        110 8 July 18 close: S$2.17 Target price: S$2.29 DBS Group Research, July 18 Northpoint and Causeway Point together contribute 70 per cent of FCT’s net property income (NPI). While it is still 15 months away until Northpoint completes its asset enhancement initiative (AEI), we believe strong rental
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      • Article
        Lock icon SMRT Corporation Reduce
        175 8  -  Compiled by Cai Haoxiang Last traded July 15: S$1.545 Target price: S$1.17 CIMB Research, July 18 The lower margin embedded in the New Rail Financing Framework (NRFF) may still have caught many by surprise. According to the Land Transport Authority, the licence charge under the NRFF has
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    • Article
      Lock icon SGX ETFs Most Active
      108 8 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 298 +2 713 298/297 343/254 296/298 IS MS INDIA US$ US713 -2 528 719/700 780/575 713/716 89.1 DBXT MSPHILS US$ US220.8 +0.8 160 222.3/220.8 222.3/158.5 220.2/221.1 17.7 DBXT MSINDO us$ US1397 +6 86 1397/1377
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    • Article
      Lock icon Yen slips back as concerns over Turkey coup ease
      474 9 CURRENCIES REUTERS London THE yen sank back towards three-week lows against the US dollar on Monday as investors unwound a surge of safe-haven trades done on the back of reports of an attempted military coup in Turkey last Friday. Turkey widened
      REUTERS  -  474 words
    • FOREX RATES
      • Article, Illustration
        Lock icon HANG SENG
        2 9
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      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Jul 18 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.983 5.093 0.688 5.895 51.026 99.566 0.802 8.632 3.021 1.068 79.693 35.518 1.024 10.879 0.748 24.301 26.594 0.573 0.760 Canada 1.017 5.179
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        Lock icon SHANGHAI COMPOSITE
        2 9
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      • Article, Illustration
        Lock icon DOW JONES
        2 9
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 9 Jul 18 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0238 1.0248 0.7600 0.7605 Canadian dollar 1.0413 1.0420 0.7732 0.7730 Euro 1.4888 1.4899 1.1052 1.1056 NZ dollar 0.9583 0.9594 0.7114 0.7119 Sterling pound 1.7856 1.7868 1.3255 1.3259
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Jul 18 S$ Bid Offer 1-month 1.3471 1.3478 2-months 1.3472 1.3479 3-months 1.3475 1.3483 6-months 1.3481 1.3488 Source: OCBC
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      • Article, Illustration
        Lock icon NIKKEI
        1 9
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES Most active
        216 9 Jul 18 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 0.2 -0.1 6898 1 18 3 OCBC Bk MBeCW*****4 8.7 0.6 4042 0.1 820 3 DBS MB eCW*****1 9.8 0.5 2537 0.1 1620 3
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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 Jul 15 Index Change Change Change Change Change Change World Preliminary 1293.0 -0.1 1.2 0.2 -2.9 -0.2 2.2 EAFE Preliminary 955.4 0.2 -5.7 0.2 -8.6 -0.3 -3.9 Europe Preliminary 1365.3 0.0 -3.4
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        387 9 Jul 18 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Jul16 9590.00 9667.50 9555.00 9570.00 *****8 *****7 Aug16 9560.00 9647.50 9547.50 9570.00 5222 ***** NIKKEI 225 INDEX FUTURES Sep16 *****.00 *****.00 *****.00 *****.00 ***** *****2 Dec16 *****.00 0 5949 MSCI TAIWAN INDEX FUTURES Jul16
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    • BANK RATES
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        Lock icon INTERBANK RATES
        154 9 Jul 18 $S Offer Bid 0vernight 0.03 0.01 1-month 0.6875 0.5625 2-months 0.8125 0.6875 3-months 0.875 0.75 Overnight mode: 0.05 US$ Offer Bid 7 days 0.52 0.42 1 month 0.55 0.45 2 months 0.70 0.50 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
        63 9 Jul 18 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0T 0.500 01-Apr-18 99.29 99.30 99.30 5-Year NX*****X 2.250 01-Jun-21 104.44 10-Year NX*****F 2.125 01-Jun-26 103.68 103.78 103.55 15-Year NZ*****F 2.875 01-Sep-30 110.34 20-Year NZ*****V 3.375 01-Sep-33 117.89 117.90 117.90 30-Year NA*****H
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 9 Jul-15 Price Net change change Last Trade Agricultural Jul-15 CBOT Soybeans (US cents/bu) 1072.50 -11.25 -1.04% 12/8/2016 CBOT Soybean Oil (US cents/lb) 30.89 0.22 0.72% 12/8/2016 CBOT Wheat (US cents/bu) 424.75 -9.25 -2.13% 14/09/2016 Jul-15 LIFFE Cocoa (£/tonne) 2450.00 -29.00 -1.17% 15/09/2016 LIFFE Coffee (US$/tonne) 1810.00 -26.00 -1.42%
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    • Article
      Lock icon Keppel Infrastructure Q2 profit lifted by Basslink compensation
      400 10  -  Earnings up four-fold at S$16.6m; DPU maintained at 0.93 Singapore cent By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore KEPPEL Infrastructure Trust (KIT) on Monday posted a second quarter distribution per unit (DPU) of 0.93 Singapore cents, on par with what it paid out
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    • Article
      Lock icon Keppel DC Reit’s Q2 DPU up 3.1%
      576 10  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore KEPPEL DC Reit posted a 3.1 per cent rise in distribution per unit (DPU) for the second quarter ended June 30 to 1.67 Singapore cents, on the back of lower property expenses. Lower gross revenue in the
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    • Article
      Lock icon Singapore bondholders brace for defaults as borrowers seek easier terms
      648 10 BLOOMBERG Hong Kong SINGAPORE dollar bondholders, already stung by the first default since 2009, face more companies struggling to meet the terms of their debt, after two oil and gas companies sought to extend maturities. AusGroup Ltd and Otto Marine
      BLOOMBERG  -  648 words
    • Article
      Lock icon SGX MAINBOARD
      1863 11 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Company Last Sale vol ('000) High 151 127 AIMSAMP Cap Reit 145.5 +0.5 483 145.5 144 0.9 7.8 926 LOW Div 169.8 101 ARA Asset Mgmt 135 -0.5 650 136
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    • Article
      Lock icon SGX CATALIST
      338 11 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Last Vol Day 5 1.7 t Acesian Partners 2.5 unch 597 2.5 2.5 3.4 9.3 GrYld 0.9 0.1 t Advanced Systems 0.2 +0.1 232 0.3 0.2 5.3 44.5 32.5 t Advancer
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    • Article
      Lock icon SGX ETF
      128 11 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale vol 3497 2355 DBXT China50 US$ US2966 +8 7 2966 2946 8.2 High 353 190 DBXT MSBrazil US$ US351 -2 3 351 351 1456 995 DBXT MSCHINA US$
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  • Page 6 Advertisements
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      Lock icon Page 6 Advertisements Column 1
      178 6 siAs launches Q&As on Listed Companies Annual Reports Uir. >' fir RA BUB AL MEETING HELP SHAREHOLDERS 1 FOCUS ON CRITICAL AREAS FOR DISCUSSION AT AGMS GIVE COMPANIES THE OPPORTUNITY TO ENGAGE SHAREHOLDERS CONSTRUCTIVELY WHAT TO EXPECT 1 Q&A will focus on company's business strategy, financial information, corporate governance and
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      Lock icon Page 6 Advertisements Column 2
      17 6 Choose from Prime Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Tenders Auctions Notices
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
      54 7 (USD billion) Net Profit US$1.7 billion, up by 12% on June 2015 1.7 1.5 1.4 1.3 1.1 June 2012 June 2013 June 2014 June 2015 June 2016 Total Assets US$190 billion, up by 36% on June 2015 190 140 128 119 91 June 2016 June 2015 June 2014 June 2013
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  • Page 10 Advertisements
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      97 10 A T~ 4 °«0i», otvm Thl* AMK L,o s P f f ‘Yani co P Stops I k> newsmi ARTICLE SEARCH BUY SERVICES Buy an SPH newspaper or online article about yourself, your family or friends, for the purpose of keepsake is easy and fuss-free with the NewsMine service. Find
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  • Page 11 Advertisements
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      71 11 ON THIS OPPORTUNITY Reach out to investors and affluent readers in this Investor Information Page. Advertise at less than $5,800 per full colour ad (a special package for 4 leading newspaper titles The Straits Times, The Business Times, Lianhe Zaobao and The New Paper Sunday). Contact our Sales Team now!
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  • CUSTOMER SATISFACTION INDEX
    • Article, Illustration
      Lock icon Retail, infocomm see happier customers
      1004 12  -  Sectors bolstered by greater satisfaction with jewellery, fashion apparel, department store, Wireless@SG and broadband sub-sectors. REPORTS BY NARENDRA AGGARWAL REPORTS BY NARENDRA AGGARWAL IN WHAT is really welcome news, consumer satisfaction with Singapore’s key retail and infocommunications sectors has risen significantly, according to a new
      BT Graphics  -  1,004 words
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      Lock icon Good service a key business differentiator, says customer experience guru
      937 12 SERVICE is indeed a key business differentiator as people are likely to buy when they feel good. The role of companies is to create experiences where the customer is comfortable and positive as this will help increase the propensity to
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      Lock icon DFS tops department store category for seventh straight year
      801 12 WHEN it comes to brick-and-mortar stores, customers continue to have clear expectations about their shopping experience. The elements that they consider to be important include store ambience, availability and assortment of products, brand image, and helpful and knowledgeable staff, says Wilcy
      801 words
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      Lock icon Satisfaction levels and revenue are linked: ISES
      848 13  -  The more satisfied customers are, the more they tend to spend. spend.BY NARENDRA AGGARWAL THE Customer Satisfaction Index of Singapore (CSISG) is the only independent national measure of service levels across 11 economic sectors in Singapore. With the reporting of the CSISG 2016
      848 words
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      Lock icon Singtel innovating to meet changing customer needs
      933 13  -  By Narendra Aggarwal AS Singapore’s leading infocomm provider, Singtel is committed to continuous innovation and service improvements to meet the evolving needs of its customers in today’s digital world. This is because the way consumers make their buying decisions and choose to engage
      933 words
    • Article
      Lock icon Infocomm sector sees rise in satisfaction
      346 13 EVEN as the infocomm sector recorded a significant rise in satisfaction, keeping customers satisfied and retaining them may require different approaches, says ISES (Institute of Service Excellence at SMU). It also notes that new customers tend to be less satisfied and less loyal than
      346 words
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      117 13 ISES CORPORATE MEMBERSHIP AN AFFILIATION TO SERVICE EXCELLENCE The ISES Corporate Membership Programme brings together a selected network of Singapore's leading companies measured in the CSISG National Study. Membership entitles your organisation the benefits of collaboration on the CSISG national study and survey design together with the Institute of Service
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      54 13 INSTITUTE OF SERVICE EXCELLENCE SINGAPORE MANAGEMENT UNIVERSITY A quarterly series brought to you by the Institute of Service Excellence at Singapore Management University (ISES). Featuring findings from the Customer Satisfaction Index of Singapore, it also reveals insights on leadership and strategy from industry leaders, particularly in leveraging customer satisfaction as
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  • REAL ESTATE
    • Article, Illustration
      Lock icon UK developers offer incentives to entice buyers
      831 14 They will pay sales taxes, give away £20,000 worth of furniture and the chance to win a free parking space as demand slumps BLOOMBERG London LONDON homebuilders are offering to pay sales taxes, give away £20,000 (S$35,732) worth of furniture and the chance
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    • Article
      Lock icon China sees slowing home price growth in June
      414 14 REUTERS Beijing HOME price rises in China slowed in June for a second straight month, adding to fears that a construction-led rebound in the economy may not be sustainable. The property market is a key driver of the world’s second-largest economy and
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    • Article
      Lock icon Land may not be smartest place for one’s nest egg
      1090 14  -  By Robert J Shiller NYT BUY land: They’re not making it anymore. That often repeated adage sounds like good financial advice. But over the long run, it hasn’t been. Despite solid price increases over the last few years, land and
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      63 14 Agency Licence No.: L*****36J KnightFrank.com.sg Budget Hotel For Sale 8-storey budget hotel with 90 rooms along Serangoon Road Located in the heritage Little India district, near to Farrer Park MRT station Land Area 4,838 sf Built Up Area: 30,500 sf approx Zoned Hotel; Freehold title Expression of Interest Closing on
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      41 14 HOT PROPERTY $4.8PSF CLUB STREET. Aprox 1500sf. 3rd flr office w/ attic. Near MRT. Aircon/ beautiful 20 MARTIN ROAD, 5134 sf. $5.80 psf. Available immediate. OFFICE SPACES FOR RENT Check out these properties and more in The Straits Times Classified now!
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      21 14 Are you overpaying your RENT? RENT X-Value™ of your home V $2,600 ($2.34 psf) Down by $200 over last quarter SRX.com.sg/property-tracker
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  • BANKING & FINANCE
    • Article
      Lock icon China funds go big on bank debt as corporate defaults rise
      756 15 Lenders sell 6.2 trillion yuan of certificates of deposit in the first half, tripling from 1.7 trillion yuan a year ago BLOOMBERG Shanghai CHINESE fund managers have tightened their risk controls and are loading up on short-term paper of
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      Lock icon Brexit drives Russian investors across Atlantic
      919 15 BLOOMBERG Moscow MIKHAIL Fridman cashed out of his Russian oil venture near the top of the market and moved to London to build an empire in calmer climes. Then “Brexit” struck, reinforcing his determination to keep heading west. With Britain’s decision to leave the
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      7 15 SUBSCRIBE NOW! Available on Subscribe at www.asia-pacificboating.com
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      155 15 Celebrating our 10th anniversary, INVEST Fair 2016 brings together renowned world-class speakers and experts in the region to share the latest development and outlook in the financial industry. EVENT DETAILS Suntec Hall 401-403 REGISTER ONLINE AND DOUBLE YOUR CHANCE IN OUR LUCKY DRAW! 30th 31st July 2016 10am 7pm +65
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      1249 15 NOTICES GLOBAL TESTING CORPORATION LIMITED (Incorporated in the Republic of Singapore) (Registration No. *****9582R) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an extraordinary general meeting (“EGM”) of Global Testing Corporation Limited (the “Company”) will be held at The Sheraton Towers Singapore, Diamond Room, Lower Lobby 39 Scotts
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  • ENERGY & COMMODITIES
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      289 16 THE STRAITS TIMES Subscribe to The Straits Times All-in-One package and stand to win a trip for two to anywhere in the world or a retreat at Resorts World Sentosa a* -iiM. OR ONE WINNER FOR THIS PRIZE a5S ebs «o mr t ONE WINNER FOR EACH PRIZE Choose from
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  • TECHNOLOGY
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      67 17 J U L 1 6 28THURSDAY SPH News Centre 9.30am to 6.00pm WOW! DEVELOPING CUSTOMER EXPERIENCE Trainer Eugene Seah Price From 24 Jul $589 Early Bird by 23 Jul $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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      18 17 Truly a great book book M.R.NARAYAN SWAMY, IANS India Now on sale at all major bookstores and www.stpressbooks.com.sg
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      53 17 THE BUSINESS TIMES aggregate asset management RETIREMENT EHil Volatility The Key to Value Investing's Outperformance Teh Hooi Ling Head of Research, Executive Director, Aggregate Asset Management Learn how to better prepare for retirement at Raffles City Convention Centre on 30 Jul 2016 Limited seats! Register for the seminar at www.aggregate.mavenlab.com
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      506 17 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SHING LEE LEARNING HUB PTE LTD COMPANY REG. NO: *****2592N (IN MEMBERS’ VOLUNTARY WINDING UP) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(2)
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  • CONSUMER
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      373 18 SINGAPORE QUALIFIERS presented by dealA really attractive Report by DAVID LEE avi lee@sph.com.sg She didn’t need a second invitation to sign up for the SPH Golf Singapore qualifiers of the World Amateur Golf Championships, presented by Centurion. Human resource and admin manager Jean Chan, a stylish 10-handicapper in her 50s
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      356 19 NAVIGATING THE CHALLENGES OF CUSTOMER SERVICE AND WORKPLACE STRESS Who should attend: Senior and Middle Management, Supervisors, Business Owners, Front-line Executives J U L 1 6 28THURSDAY WOW! DEVELOPING CUSTOMER EXPERIENCE Excellence in customer service yields tremendous benefits for any organisation’s reputation and business growth. Yet it only takes one
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  • TRANSPORT
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      Lock icon India infrastructure fails to keep pace with air traffic growth
      807 20 BLOOMBERG New Delhi AT last week’s Farnborough Air Show, an Indian carrier placed a US$7.7 billion order while an additional US$72 billion of contracts are in the offing. The next challenge: Finding landing and parking slots for these planes. As
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      Lock icon Turkey’s failed coup takes toll on Malaysia Airports Holdings
      620 20  -  The operator of Istanbul’s Sabiha Gokcen Airport is down 5% on expectation that tourist arrivals will fall further By Pauline Ng btworld@sph.com.sg Kuala Lumpur ON the local bourse, Malaysia Airports Holdings Bhd (MAHB) took a beating from the failed coup attempt
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      Lock icon Saudi Arabia’s Bahri to grow VLCC fleet
      409 20 REUTERS Dubai NATIONAL Shipping Company of Saudi Arabia (Bahri) is planning to increase its fleet size to around 46 ships by the end of 2018, a senior executive said. The figure would likely make the company, the exclusive oil shipper of Saudi Aramco,
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      57 20 SINGAPORE QUALIFIERS 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 COUNTRY
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      32 20 Beef Up Your Finances Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your IPOs other offerings *1: HrttH bit.ly/ZBkeywordsI ***** ZBKeywords: What does the new rail financing framework mean XV: ■Bl
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      16 20 y www.omy.sg <*- Cancerians! 3 things to look out for in the month of July! w @lifestyle.
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  • OPINION
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      Lock icon Shakeout looms for hedge funds as returns are eaten by excessive fees
      588 22 EDITORIAL FOR decades, the standard marketing push for hedge funds has been that the funds, by their canny ability to read markets and hedge exposures, should help portfolios preserve capital in bear markets, and outperform when markets are
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      Lock icon How exactly will Trump ‘make America great’?
      863 22  -  THE BOTTOM LINE By Robert J Samuelson THE WASHINGTON POST WRITERS GROUP Washington THE Republican National Convention in Cleveland this week ought to be interesting, but whether it will be informative is another question. Barring a last-minute surprise, the delegates will nominate real
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      Lock icon It’s the big Republican show
      1358 22  -  But Mr Trump’s adversaries could show up in force at the convention and perhaps transform it into a media event By Leon Hadar IT’S the start of the summer season in Washington, DC. That usually means that not a lot of exciting things tend to
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      Lock icon Scenario analysis, contingency planning key to surviving Brexit
      1002 23  -  COMMENTARY By Ho Kok Yong, Frederic Bertholon-Lampiris T The writers are, respectively, financial services industry leader and executive director at Deloitte Southeast Asia. SEVERAL weeks have passed since the Brexit referendum and there is a sense of uncertainty in the UK and
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      Lock icon How and why Temasek uses a hurdle rate
      408 23  -  LETTER TO THE EDITOR Stephen Forshaw Managing director, Public affairs, Temasek international WE thank Kenneth Lim for his mention of Temasek’s hurdle rate in the Hock Lock Siew column of your newspaper on July 15. It may interest your readers to know
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      Lock icon ‘We need to change the math of economic success’
      2132 23  -  So says Ruchir Sharma, chief global strategist and head of emerging market equity at Morgan Stanley Asset Management By Vikram Khanna vikram@sph.com.sg Ruchir Sharma talks to Vikram Khanna about Brexit, the EU, China, demographics, the Fed and more. IOn Brexit and
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      914 24 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
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      Lock icon Nadia still turning heads 40 years on from perfect 10
      899 25 She celebrates 40th anniversary of her memorable feat at the 1976 Montreal Olympics REUTERS London SHE was once the ponytailed Romanian teenager excited at the thought of owning coloured socks and eating bubble gum yet Nadia Comaneci went on to
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      Lock icon Holy cow urine industry gets boost thanks to Modi
      1115 25 BLOOMBERG New Delhi CARRYING a large aluminium bowl, Susheela Kumari bustles around the back ends of two dozen cows in a shelter in northern India, ready for a lifted tail or squat that could signal an impending tinkle from one of
      BLOOMBERG; PHOTOS: BLOOMBERG  -  1,115 words
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      25 25 One man’s junk is another man’s treasure Shop second-hand or sell your possessions in CLASS 162 To advertise, call the Print Classified Hotline: 1800-289 9988
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  • Page 25 Miscellaneous
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      333 25 CRYPTIC CROSSWORD Across 1 Cautious about Italian making donation (7) 9 Damaged cassette leads to legal action (4,4) 10 Dress at home (7) 11 Heather’s put by tip for something to eat (8) 12 Broken carafes European’s dropped in commotion (6) 13 12 that shouldn’t cost anybody anything (4-3-3) 15
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  • SME
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      Lock icon Three questions startups should ask
      947 26  -  Startups may take on risks which they are reticent to address; asking themselves some questions might be edifying. BY MARY ANN DE LEON, LAI KEE YIN T Mary Ann De Leon is associate director, IT consulting at Protiviti and Lai Kee Yin is senior manager,
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      Lock icon How companies can make digital marketing strategy work for them
      1160 26  -  By Joerg Niessing, David Dubois T The writers are respectively an affiliate professor of marketing and an assistant professor of marketing at INSEAD. Both are programme directors of Leading Digital Marketing Strategy, one of INSEAD’s executive education programmes. ADAPTING to
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  • THE BUSINESS TIMES BT SALUTES ENTERPRISE 2016
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      Lock icon Celebrating journeys
      561 1  -  The Business Times has, over the years, established a special working relationship with SMEs highlighting their struggles and wins. As we mark our 40th anniversary, we also celebrate the journey taken by these companies. MINDY TAN SMALL and medium-sized enterprises are, in many ways, the lifeblood of Singapore’s
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      Lock icon Balancing growth and change
      1209 2 BBR is a well-established brand in its field of specialist engineering. But that has not stopped it from pursuing new areas of growth WHEN the concept of prefabricated pre-finished volumetric construction (PPVC) was first introduced in Singapore, there were concerned murmurs in some quarters that we
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      Lock icon Designing with the heart
      1221 3 Passionate about his art, award-winning interior designer George Budiman is launching a lifestyle brand to bring sustainable tourism to the world SEVEN years ago, George Budiman was visiting a work site in China where a posh fivestar hotel was being built when he was appalled by
      PHOTO: DON WONG  -  1,221 words
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      Lock icon Bringing quality to the world
      1014 4 Grandwork Interior, which furnishes the retail shops of top fashion labels, continues expanding abroad THE Singapore economy might be going through a soft patch, but homegrown interior fit-out and furnishing firm Grandwork Interior is not slowing down. In fact, its loyal customers which include top
      PHOTO: DON WONG  -  1,014 words
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      Lock icon LAUD Architects – Eyeing the world stage
      1341 5 LAUD Architects Eyeing the world stage The home-grown architectural firm is set for the next phase as it ramps up overseas projects while staying rooted in design excellence LAUD Architects has come into its own with almost 12 years of practice, starting from a small outfit of five staff in
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      Lock icon Aspire to inspire
      332 6 / 7 ‘We prefer to go into businesses that will last. We don’t do hit-and-run businesses, and we’re particular on quality.’ Vincent Tan, Select Group managing director ‘BBR’s technology can be used everywhere. Most countries if they do a lot of heavy engineering in terms of bridges for example
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      Lock icon Building the future
      1030 8 Samwoh Corporation is looking to recycling and the future generations to grow their business SAMWOH Corporation has, through the years, undergone several evolutions. Started as a construction logistics company, its core competencies today have expanded significantly to comprise an asphalt division for road works, a building materials
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      Lock icon Growing with the customer
      922 9 Bottled gas distributor Union Energy is expanding into diesel, electricity, and even health supplements AS A teenager, Teo Hark Piang was learning the ropes at his father’s bottled gas distribution business: repairing stoves, laying pipes, welding, and even driving a truck delivering the goods. The close
      PHOTO: DON WONG  -  922 words
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      Lock icon A growing appetite
      1011 10 Select Group is entering the ready-to-eat food business in Singapore and is expanding in Malaysia VINCENT Tan’s eyes light up when the conversation turns to food. “Food is not boring, you can come out with new things every time,” says the managing director of food service firm
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      Lock icon Thriving on change
      1150 11 Soo Kee Group relentlessly reinvents itself to stay relevant to customers IN JEWELLERY retailer Soo Kee Group’s brand new corporate headquarters at Changi Business Park, there is a vivid sense of space all 140,000 sq ft and seven floors of it. On one floor, a team of
      PHOTO: DON WONG  -  1,150 words
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      97 1 inside Balancing growth and change 2 Designing with the heart 3 Bringing quality to the world 4 Building the future 8 Growing with the customer 9 A growing appetite 10 Thriving on change 11 LAUD Architects Eyeing the world stage 5 SjOCBCBank <m\\ EXCELLENCE RUNS ACROSS THE BOARD Best Managed
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      235 2 INNOVATION GROWTHFOR The organic growth of a company is fundamental to the creation of competitive advantage and shareholder value, and fostering a culture of innovation is key to driving that growth. The success of BBR Holdings (S) Ltd (“BBR”) attests to this philosophy. One of Singapore’s leading construction and specialised
      235 words
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      125 3 fi ASIA PACIFIC PROPERTY AWARDS ASIA PACIFIC PROPERTY AWARDS INTERIOR DESIGN INTERIOR DESIGN I Eljc 'Cclcgraplj HIGHLY COMMENDED INTERIOR DESIGN SHOW HOME SINGAPORE t* n BEST INTERIOR DESIGN SHOW HOME SINGAPORE D Lccdon Garden Villa Exquisite Couture by Cynosure Design Ptc Ltd Coco Palms by Cynosure Design Ptc Ltd f
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      126 4 TH E SPACE BU ILD ER BUILDING SPACES ON MODELS OF PERFECTION CONGRATULATIONS ON THE OPENING OF YOUR NEW SUNGEI KADUT BUILDING A&EM Projects Advance Storage Pte Ltd Alpine Aire Service Pte Ltd Archinteriors Engineering Pte Ltd Cheng Jian Dg Lux Pte Ltd Eartha Infiniqe Pte Ltd Galmon(S) Pte Ltd
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      45 5 MUD ARCHITECTS Enhancing Quality of Life Through Design Fostering Social Interaction Sense of Community Design In Harmony with the Environment Reinterpreting Contemporary Tropicality Embracing Sustainability Technology T rtU6& £/l& LAUD ARCHITECTS PTE LTD 510THOMSON ROAD #02-08 SLF BUILDING SINGAPORE *****5. +65 6259 2122 www.laudarchitects.com admin@laudarchitects.com
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      241 8 O O Q o o o Q 0 ooooooooo OqoOqQQoo Q O O W OQOOOOoOOQOOOOOOO OOOOOQOoOOOOOOOOOOOOOOoOOOOOOO o O O o O Q o o o o O o o o o o o O o Q o o Dodo O o O o O O o o O O Q
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      52 9 ft GAS UJRTORJ Co o to o A co^ Op WWW «B*Wa Ur »onen ergy com sg LPG S* 3 ■3 L\I I MON UNION T" V From our own Bottling Plant to Delivery. Stringent Quality and Safety measures. V Fleet size of over 200 vehicles. Largest LPG delivery fleet
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      276 10 SELECT GROUP Partners Preferred Celebrating Our W. V -mm i". V. -k\-vv% vCv.b.v r r Fit Select Group, Singapore's leading food service provider to people from all walks of life, celebrates our 25th anniversary of serving Singapore. With our extensive experience in the F&B industry, Select Group has established a
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      103 11 2 n 4 o f a 2 f'W V, t SM 8 I, sv > 1 "V ft v S3 S \&T 5*. W SnS^H I g? s 4 v^N ■a Ft *7 V A MEMBER OF S00 KEE GROUP 3] 3fcr.r fc. Ssa a *OWyour WEALTH Precious gold and
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      76 12 OCBC Bank YOUR CONFIDENCE, OUR MOTIVATION. THANK YOU FOR MAKING US ASIAS BEST SME BANK Your confidence is the accolade that means the most to us. We're committed to helping your business grow both locally and beyond. Ui fxrmra AWARDS FOR EXCELLENCE 2014 Asia’s Best Bank for SME 2016 Marquee
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