The Business Times, 21 July 2016

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Microfilm: NL33910
Total Pages: 39
1 14 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 GThursday, July 21, 2016
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  • Article, Illustration
    Lock icon DAILY DIGEST
    210 1 Stock and bond markets have moved ahead of corporate earnings prospects and could be setting themselves up for a severe correction, the Institute of International Finance warns. TOP STORIES 2 Keppel Corp’s asset management arm is not even a month old but has set up two closed-end private
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  • Article
    Lock icon MARKETS
    28 1 Wednesday Change STI 2,945.74 +26.20 KL COMP 1,669.61 -0.94 NIKKEI 225 16,681.89 -41.42 HANG SENG 21,882.48 +209.28 SHENZHEN B 1,140.19 +1.76 DOW (10.45 AM EDT) 18,604.93 +45.92
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  • Article, Illustration
    Lock icon Temasek offers S$1.68 a share to take SMRT private in S$1.2b deal
    1002 1  -  The two parties say the move lets SMRT focus on quality service as it moves to the new rail model, without the pressures of being listed By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore IN a widely anticipated move, Temasek
    Source: Bloomberg  -  1,002 words
  • Article
    Lock icon Push for new laws to make S’pore a debt workout centre
    625 1  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore SINGAPORE’s insolvency laws will be strengthened with provisions similar to those under Chapter 11 bankruptcy protection laws in the US, as the government moves to position the Republic as an international centre for
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  • TOP STORIES
    • Article, Illustration
      Lock icon Recent market rebound from Brexit-linked losses premature and risky: IIF
      633 2  -  Stock and bond markets could be setting themselves up for a further severe correction By Anthony Rowley btworld@sph.com.sg Tokyo ONE month after the Brexit shock, stock and bond markets have more than recovered from their initial plunge but in so
      PHOTO: AFP  -  633 words
    • Article, Illustration
      Lock icon Like all good things, the HSR will be worth the wait
      680 2  -  COMMENTARY By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT IT’S Wednesday afternoon and I have just returned home after a flight from Kuala Lumpur. The entire journey took about 41/2 hours, including waiting time and travelling to and from the two airports.
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    • Article
      Lock icon SMEs must make greater effort to protect personal data: commission head
      686 2  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore COMPANIES small and mediumsized enterprises (SMEs) in particular can do a better job of protecting personal data, the Personal Data Protection Seminar concluded on Wednesday. Leong Keng Thai, chairman of the PDPC (Personal
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    • Article
      Lock icon PDPC calls on firms to better protect data
      408 2  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THE Personal Data Protection Commission (PDPC) on Wednesday called on organisations here to improve how they protect personal data. This comes shortly after the Monetary Authority of Singapore (MAS) and the PDPC said they would investigate
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    • Article, Illustration
      Lock icon BCA opens SkyLab to lift green building technology research
      604 3  -  Its rotatable lab can be angled to the sun and wind in energy-efficiency tests By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore A FACILITY of the Building and Construction Authority (BCA) that advances tests and research into innovative energy-efficient building technologies was declared
      PHOTO: KUA CHEE SIONG/THE STRAITS TIMES  -  604 words
    • Article
      Lock icon COE premiums rise ahead of reduced quota from August
      444 3  -  By Samuel Ee samuelee@sph.com.sg Singapore CERTIFICATE of entitlement (COE) premiums bounced back up in the final bidding exercise before the start of a new, smaller quota from next month. Category A, for cars below 1,600cc or 130 hp, was S$699 higher
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    • Article
      Lock icon US moves to seize US$1b in assets linked to Malaysia’s 1MDB
      278 3 AFP BLOOMBERG Washington The US Justice Department is moving to seize more than US$1 billion in assets linked to Malaysia’s 1MDB state investment fund. The assets are “associated with an international conspiracy to launder funds misappropriated” from 1 Malaysia
      AFP; BLOOMBERG  -  278 words
    • Article
      Lock icon What’s driving the privatisation?
      917 4  -  Is this a bailout, or an attempt to rein in public discourse on SMRT’s problems? The exercise raises questions COMMENTARY: SMRT BUYOUT By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THE S$ 1.2 billion takeover offer for SMRT by Temasek has raised questions about the motive behind the
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    • Article, Illustration
      Lock icon Track record
      44 4  -  A look back on SMRT's journey from its origins as a government agency to a listed company and now, possibly a private entity. BY SOON WEILUN BT Explains BY SOON WEILUN Sources: LTA, NLB Singapore Infopedia, media reports BT Graphics: Hyrie Rahmat
      Sources: LTA, NLB Singapore Infopedia, media reports; BT Graphics: Hyrie Rahmat  -  44 words
    • Article
      Lock icon Two new Keppel Capital funds hope to raise US$1.5b
      402 4  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore KEPPEL Corp’s newborn asset management arm Keppel Capital is not even a month old, but it’s growing fast. The new unit has set up two closed-end private equity funds to raise a combined US$1.5 billion,
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    • Article
      Lock icon Singapore lags Asean in sustainability reporting: study
      328 4  -  By Angela Tan angelat@sph.com.sg Singapore SINGAPORE companies see the relevance in sustainability reporting but a majority struggle to identify its key impact, risks and opportunities, according to a recent study. The study by National University of Singapore (NUS) Business School’s Centre for Governance,
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    • Article
      Lock icon Singapore food producers pool resources to go regional
      409 4  -  By Renald Yeo yrenald@sph.com.sg Singapore THE next time you set foot in a supermarket when you are travelling within the region, do not be surprised if you spot Singapore-made food products from home-grown brands lining the shelves. Singapore food products have, traditionally,
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      Lock icon Page 2 Advertisements Column 1
      26 2 HEARTIEST CONGRATULATIONS TO FRASERS HOSPITALITY TRUST FOR WINNING THE MERIT AWARD FOR BEST ANNUAL REPORT, REITS BUSINESS, AT THE SINGAPORE CORPORATE AWARDS 2016 BEST WISHES FROM
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      Lock icon Page 3 Advertisements Column 1
      270 3 “EMPA SINGAPORE Maritime and Port Authority of Singapore congratulates vOOv WALLENIUS WILHELMSEN LOGISTICS on winning the inaugural SEC MPA Singapore Environmental Achievement Award (Maritime) AND TO CHINA NAVIGATION 1C Swire on being the merit winner of the inaugural SEC MPA Singapore Environmental Achievement Award (Maritime) r Singapore is one of
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      377 5 PATRON OF THE ARTS AWARDS 2016 DISTINGUISHED PATRON OF THE ARTS Organisations recognised for contributions of $1,500,000 and above. Accenture Kwan Im Thong Hood Cho Temple DBS Bank Ltd Lam Soon Cannery Pte Ltd Far East Organization Marina Bay Sands Pte Ltd Keppel Corporation One Farrer Pte Ltd Individuals recognised
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon What’s fuelling Bt Sembawang rally?
      846 6  -  HOCK LOCK SIEW BY CAI HAOXIANG haoxiang@sph.com.sg @HaoxiangCaiBT OF LATE, the stock of a 105-year-old company has been quietly rallying to a one-year high, with volume to boot. What has sparked the renewed interest in Bukit Sembawang Estates, a conservatively-run, debtfree residential property developer partly
      Source: Bloomberg  -  846 words
    • Article
      Lock icon Procurri ends 19.6% below IPO price on SGX debut
      329 6  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore TECHNOLOGY firm Procurri Corporation made its debut on the mainboard of the Singapore Exchange (SGX) on Wednesday, slumping 19.6 per cent below its initial public offering (IPO) price of 56 Singapore cents. The counter opened
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    • Article
      Lock icon Keppel unit bags S$100m contracts
      234 6  -  By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore KEPPEL Singmarine, a wholly-owned subsidiary of Keppel Offshore Marine (Keppel O&M), has won contracts from Jan De Nul Group to build three trailing suction hopper dredgers (TSHDs) worth about S$100 million in all. The first two dredgers are
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    • Article, Illustration
      Lock icon EC World Reit prices IPO at 81 cents apiece
      809 7  -  Annualised yield projected at 7.1% for the six months to Dec 31 this year By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore EC World Reit has priced its initial public offering (IPO) at 81 Singapore cents per unit the higher end of its
      PHOTO: AIDAN LOO  -  809 words
    • Article, Illustration
      Lock icon STI / Catalist
      62 8 STI Catalist Straits Times index July 20,2016 2,945.74 +26.20 (+0.90%) Current streak 1 day Day high 2,953.13 Day low 2,917.14 52-week high 3,373.48 (July 20, 2015) 52-week low 2,532.70 (Jan 21,2016) FTSE ST Catalist index July 20,2016 452.78 +3.72 (+0.83%) Current streak 2 days Day high 453.79 Day low 447.61
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    • Article, Illustration
      Lock icon Wall St’s strength spills over to local market
      619 8  -  Singtel, Thai Beverage and the banks help propel the Straits Times Index nearly one per cent higher STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT GAINS in Singtel, Thai Beverage and the banks helped propel the Straits Times Index up 26.2 points or almost
      Source: Bloomberg  -  619 words
    • Article
      Lock icon STI STOCKS
      307 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 249 unch 252/247 253 209 6.2 6566.9 CapitaCom Trust 156 cd -1 156/154.5 158.5 122.5 5.5 4611.9 CapitaLand 310 +2 310/305 350 267 12.4 2.9 *****.2 CapitaMall Trust 219 +2 219/215 225
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    • Article
      Lock icon MOST ACTIVE
      34 8 VOLUME Ezra 94,479,700 Noble 94,013,700 Wilmar Intl 62,226,200 ThaiBev 52,187,800 LifeBrandz 41,010,000 Market volume 1,796,839,000 VALUE Wilmar Intl 192,779,324 Singtel 119,227,875 DBS Grp 79,530,236 ThaiBev 52,576,536 HongkongLand USD 44,729,330 Market value 1,279,465,000
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    • Article
      Lock icon SGX ETFs Most Active
      106 8 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 297 +2 726 299/296 343/254 297/298 DBXT MSBrazil US$ US358 +1 83 358/356 358/190 356/--Nikko AM STI ETF 300 +3 77 300/300 344/259 299/301 7.2 IS MS INDIA US$ US715 +5 71 716/714 780/575
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Jul 20 VALUE CLOSE BT OB/OS 65.00 +140.00 BT CADI -*****.00 +83.00 BT 10-day MA -*****.00 +7.00 FTSE ST Mid Cap 688.52 +2.67 FTSE ST Small Cap 391.84 +1.62 FTSE ST All Share 715.98 +6.84 FTSE ST China Top 162.23 +0.14 FTSE ST China 193.59 +1.11 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 20,2016 715.98 +6.84 (+0.96%) Current streak 1 day Day high 716.59 Day low 709.13 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 July 19,2016 1,643.42 -9.39 (-0.57%) Current streak 1 day Day high 1,654.57 Day low 1,640.79 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 9 2 4 1 0 0 10 2 4 Manufacturing 48 25 32 10 7 14 58 32 46 Commerce 19 15 18 5 4 5 24 19 23 Tpt/Stor/Comms 18 7 4
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 13,447 276 13,723 46,469 52 46,521 Manufacturing 184,497 113,737 298,234 328,610 3,362 331,972 Commerce 120,983 48,089 169,072 97,341 270 97,612 Tpt/Stor/Comms 168,869 2,847 171,716 199,963 277 200,240 Finance 21,117 10 21,127 171,225 1 171,226 Construction
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    • Article
      Lock icon GAINERS
      73 8 BY CENTS CLOSE UP 52w high/low DBXT MSUSA US$ 5578 346.4 4.8 5578/4705 JMH USD 5928 148.1 1.9 6103/4500 JSH USD 3062 110.0 2.7 3250/2524 HongkongLand USD 648 43.5 5.2 812/555 Lyxor EM Mkt US$ 925 43.5 3.6 947/755 BY PERCENTAGE CLOSE UP 52w high/low Infinio 0.3 200.0 0.2
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    • Article
      Lock icon LOSERS
      77 8 BY CENTS CLOSE DOWN 52w high/low DBXT MSEurope US$ 5240 -105.9 -1.5 6064/4770 GLD US$ ***** -95.1 -0.5 *****/***** DBXT Vietnam US$ 2480 -44.8 -1.3 2786/2017 SPDR S&P500 US$ ***** -29.9 -0.1 *****/***** DBXT STGLDv US$ 3060 -24.5 -0.6 3101/2731 BY PERCENTAGE CLOSE DOWN 52w high/low Wilmar MBeCw*****3 4.7
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    • Article
      Lock icon UNUSUAL ACTIVITY
      81 8 VOL CLOSE($) CHANGE AVIC 116.0 0.045 -0.015 -25.00 IP Softcom 90.0 0.018 -0.005 -21.74 NauticAWT 126.0 0.130 -0.020 -13.33 Cortina 1.0 0.805 -0.055 -6.40 Hor Kew 42.0 0.335 +0.065 +24.07 ChinaKangdaFood 259.0 0.160 +0.017 +11.89 KLW 27,321.8 0.011 +0.002 +22.22 Japan Foods 286.8 0.415 +0.045 +12.16 Global Palm
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    • BROKERS’ TAKE
      • Article
        Lock icon wilmar international | Sell (Downgrade)
        120 8 wilmar international Sell (Downgrade) July 20 close: S$3.16 Target price: S$3.05 OCBC Investment Research, July 20 WILMAR International Limited now expects to report a net loss of around US$230 million in Q2 2016 due to “challenging operating conditions” particularly in oilseeds and grains manufacturing and its sugar business segment. However,
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      • Article
        Lock icon Wilmar International | Buy
        158 8 Wilmar International Buy July 20 close: S$3.16 Target price: S$4.14 Citi Research, July 19 WHILE this is a one-time quarterly loss, confidence on the firm’s plans to grow while reducing earnings volatility will be hit. In the short term, valuations will revert back to 0.9 time price to book, similar
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      • Article
        Lock icon Singapore strategy: Lower yields for longer
        172 8  -  Compiled by Cai Haoxiang Citi Research, July 19 Our top-down STI target of 3,020 imputes a long term-growth rate of 3 per cent, translating to 15.9 times earnings. Singapore stocks that screen well using outperformance characteristics during the Eurocrisis years (2011-13) include Singtel, SATS,
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    • Article
      Lock icon CALENDAR
      9 8 DATA I July 21 US initial Jobless Claims
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    • Article
      Lock icon US$ hits 4-month high on rate hike expectations
      429 9 CURRENCIES REUTERS London THE US dollar hit a four-month high against a basket of currencies on Wednesday, bolstered by strong US data and growing expectations that the Federal Reserve may raise rates before the end of the year. Commerce Department data showed
      REUTERS  -  429 words
    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES Most active
        210 9 Jul 20 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Ntegrator Intl Ltd W*****3 0.4 0.1 3601 1 1 -7 3.75 28 DBS MB eCW*****1 9.7 0.6 3107 0.1 1620 3 UOB MB ePW*****3 8.2 -0.7 2807
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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 19 Index Change Change Change Change Change Change World Preliminary 1294.3 -0.2 1.3 0.0 -2.6 -0.4 2.1 EAFE Preliminary 957.1 0.0 -5.6 -0.2 -8.6 -0.6 -4.2 Europe Preliminary 1362.7 -0.3 -3.5
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        387 9 Jul 20 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Jul16 9480.00 9545.00 9467.50 9482.50 ***** *****7 Aug16 9477.50 9537.50 9462.50 9465.00 ***** ***** NIKKEI 225 INDEX FUTURES Sep16 *****.00 *****.00 *****.00 *****.00 ***** *****0 Dec16 *****.00 *****.00 *****.00 *****.00 93 5949 MSCI TAIWAN
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    • FOREX RATES
      • Article, Illustration
        Lock icon HANG SENG
        2 9
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      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Jul 20 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.977 5.000 0.681 5.801 50.286 98.131 0.795 8.548 3.019 1.061 78.385 35.256 1.016 10.691 0.739 23.990 26.231 0.571 0.748 Canada 1.024 5.119
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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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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 9 Jul 20 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0156 1.0170 0.7477 0.7482 Canadian dollar 1.0400 1.0411 0.7659 0.7656 Euro 1.4926 1.4942 1.0989 1.0993 NZ dollar 0.9569 0.9582 0.7045 0.7050 Sterling pound 1.7780 1.7799 1.3090 1.3095
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Jul 20 S$ Bid Offer 1-month 1.3584 1.3596 2-months 1.3589 1.3601 3-months 1.3591 1.3602 6-months 1.3598 1.3612 Source: OCBC
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      • Article, Illustration
        Lock icon NIKKEI
        1 9
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 Jul 20 $S Offer Bid 0vernight 0.03 Par 1-month 0.625 0.50 2-months 0.8125 0.6875 3-months 0.875 0.75 Overnight mode: 0.35 US$ 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
        69 9 Jul 20 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0T 0.500 01-Apr-18 99.23 99.31 99.26 5-Year NX*****X 2.250 01-Jun-21 104.2 104.55 104.25 10-Year NX*****F 2.125 01-Jun-26 103.42 104.15 103.55 15-Year NZ*****F 2.875 01-Sep-30 109.78 110.30 110.20 20-Year NZ*****V 3.375 01-Sep-33 117.02
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 9 Jul-19 Price Net change change Last Trade Agricultural Jul-19 CBOT Soybeans (US cents/bu) 1044.00 -34.25 -3.18% 12/8/2016 CBOT Soybean Oil (US cents/lb) 30.66 -0.28 -0.90% 12/8/2016 CBOT Wheat (US cents/bu) 418.00 -11.50 -2.68% 14/09/2016 Jul-19 LIFFE Cocoa (£/tonne) 2437.00 -33.00 -1.34% 15/09/2016 LIFFE Coffee (US$/tonne) 1801.00 -4.00 -0.22%
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    • Article
      Lock icon JV contributions help CCT lift DPU for second quarter
      465 10  -  Trust’s portfolio occupancy rate of 97.2% remains higher than market rate of 95.1% during the quarter By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore BOOSTED by higher contributions from joint ventures, CapitaLand Commercial Trust (CCT) reported a distribution per unit (DPU) of 2.20
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    • Article
      Lock icon Keppel T&T’s Q2 profit up 18.5% at $18.81m
      476 10  -  By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore DATA centre and logistics provider Keppel Telecommunications and Transportation posted an 18.5 per cent rise in net profit to S$ 18.81 million for the second quarter. The profit attributable to shareholders was after taking into
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    • CORPORATE DIGEST
      • Article
        Lock icon Singapore Press Holdings
        101 10 SINGAPORE Press Holdings (SPH) has appointed former Neptune Orient Lines (NOL) chief executive Ng Yat Chung as an independent director. The appointment takes effect on Aug 1. He will be a member on the board risk committee. Mr Ng, 54, is currently executive director of NOL, a
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      • Article
        Lock icon ST Engineering
        54 10 SINGAPORE Technologies Engineering (ST Engineering) said on Wednesday that its electronics arm, Singapore Technologies Electronics, has secured about S$650 million worth of contracts in the second quarter of 2016, which include contracts for rail electronics and intelligent transportation, satellite and broadband communications, as well as advanced electronics and
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      • Article
        Lock icon Huan Hsin Holdings
        85 10 HUAN Hsin Holdings plans to sell indirectly owned China subsidiary Shanghai Huan Yi Technology Co to unrelated party Link JV Holdings for 274.4 million yuan ($55.9 million) before withholding tax deductions in order to increase working capital and to repay existing debt. Link JV will buy all
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    • Article, Illustration
      Lock icon Raffles Medical plans to spend S$1b over next three years on expansion in Asia
      398 10 BLOOMBERG Singapore SINGAPORE’S biggest healthcare provider Raffles Medical Group will spend S$1 billion over the next three years to set up hospitals and clinics in Asia, group chairman and co-founder Loo Choon Yong said. About S$600
      BLOOMBERG; BT FILE PHOTO  -  398 words
    • Article, Illustration
      Lock icon Profit warning sends Wilmar stock reeling
      520 10  -  HOT STOCK By Angela Tan angelat@sph.com.sg Singapore SHARES of Wilmar International tumbled as much as 11.6 per cent on Wednesday as some analysts downgraded the stock a day after the palm oil company warned that it expects to sink into the red for the
      Source: Bloomberg  -  520 words
    • Article
      Lock icon Ascott Reit keeps faith with London
      430 10  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore ASCOTT Residence Trust said London will remain a key global city despite the Brexit vote, and that it would seek out acquisitions in developed markets. This comes as it reported on Wednesday a 2 per cent rise in
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    • Article
      Lock icon Cache Logistics Trust’s Q2 DPU down 7.1%, due to enlarged units base
      422 10  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore CACHE Logistics Trust posted a distribution per unit (DPU) of 1.989 Singapore cents for the second quarter of FY2016, down 7.1 per cent from the previous year’s 2.14 Singapore cents. This was
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    • Article
      Lock icon SGX MAINBOARD
      1887 11 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Company Last Sale Vol ('000) High 151 127 AIMSAMP Cap Reit 145.5 -0.5 410 146.5 144.5 0.9 7.8 926 Low Div 169.8 101 ARA Asset Mgmt 134 +1 509 135
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    • Article
      Lock icon SGX CATALIST
      352 11 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Last vol Day Div GrYld 0.9 0.1 t Advanced Systems 0.2 unch 400 0.2 0.2 5.3 44.5 29.5 t Advancer Global 35.5 +5.5 8741 36 30 14.1 61.5 High 16.2 4.5
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    • Article
      Lock icon SGX ETF
      154 11 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale 1290 991 CIMBASEAN40 S$D 1192 +14 0 1192 1192 941 700 CIMBASEAN40 US$ US867 -5 50 869 865 136 3483 2355 DBXT China50 US$ US2952 +2 15 2962
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      Lock icon Page 6 Advertisements Column 1
      77 6 The ONE App INVEST anywhere, everywhere Markets Covered Singapore Malaysia Indonesia Thailand Hong Kong US Australia Download Win! Stand a chance to win a Samsung Galaxy S7 edge or iPhone 6s when you download and use ShareInvestor Mobile. 2 lucky winners each month. (July September 2016) *Disclaimer: All forms of
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      Lock icon Page 7 Advertisements Column 1
      540 7 CONGRATULATIONS TO it; A Mr William Liem Chief Executive Officer Tuan Sing Holdings Limited on being awarded BEST CHIEF EXECUTIVE OFFICER at the Singapore Corporate Awards 2016 We thank him for his unwavering commitment, support, leadership and contributions to Tuan Sing Holdings Limited and our Group of Companies. From the
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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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  • REAL ESTATE
    • Article
      Lock icon Coldwell Banker adds 7 franchisees
      389 12  -  It aims to group small-scale and growing real estate agencies on a bigger platform for economies of scale By Tan Effie taneffie@sph.com.sg Singapore US real estate franchisor Coldwell Banker has signed up seven more franchisees in Singapore, adding to its existing four. The 11 franchisees
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    • Article
      Lock icon Wheelock sells HK Peak mansion for HK$630m
      292 12 BLOOMBERG Hong Kong WHEELOCK Properties has sold its third luxury home in Hong Kong’s exclusive Peak neighbourhood to an unidentified buyer for HK$630 million (S$ 110.4 million), a lower price than two villas it sold earlier this year at the same development. The
      BLOOMBERG  -  292 words
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      Lock icon Foreign cash reviving home building in Spain
      1101 12 REUTERS Madrid RESIDENTIAL construction is coming back to life in Spain eight years after a property crash, with foreign investment pouring into developments in Madrid and Barcelona, and a jump in building permits pointing to more growth to come. Half a million newly-built
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      Lock icon Canadian developers start building only after getting high sales
      318 13 BLOOMBERG Toronto DEVELOPERS now are making sure that they reach a higher level of sales before they begin construction on Toronto condominium projects, contrary to the housing bubble that unfolded in the city in the 1980s, Canada Mortgage Housing Corp (CMHC)
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      Lock icon US neighbourhoods hit by foreclosure crisis at a crossroads
      822 13 Local officials and non-profit groups are facing a decision on whether they should be saved or torn down BLOOMBERG New York BACK when the storm clouds of the Great Recession were still gathering, an old Cleveland neighbourhood called Slavic Village was
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      Lock icon China’s migrant enclaves make way for the new
      1035 14 Officials see the urban villages as dirty and backward, and aim to build new residential and commercial districts NYT Baishizhou, china THE concrete block buildings that shade the narrow asphalt alleyways of Baishizhou are so closely situated that they are called “handshake”
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      1531 14 Property transactions for districts 1 to 19 with contract dates between June 8 and June 14,2016 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED Marina One Residences Apt 13/06/2016 99 1119 2569 2295 The Sail Marina Bay
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      843 12 Keppel Telecommunications Transportation Ltd Co Reg No: *****0115G (Incorporated in the Republic of Singapore) 1. UNAUDITED RESULTS FOR THE SECOND QUARTER AND HALF YEAR ENDED 30 JUNE 2016 The Directors of Keppel Telecommunications Transportation Ltd advise the following unaudited results of the Group for the second quarter and half year
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      410 13 FREEHOLD Another Prestigious Development by V LINK (THM) GROUP Hilltop Bungalow with Panoramic View Immediate Occupation 2 Storeys Attic Basement Land size 5,180sqft 6,065sqft Intelligent Home System 5+1 Bdrms 6.2m Living Rm Ceiling Hgt Swimming Pool Entertainment Rm Private Lift 4 Basement Car Lots <1kmtoHwaChonglnt'l Sch Call Developer Hotline: *****099
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      350 13 KnightFrank.com.sg Food Factory for Sale by Expression of Interest At Jalan Boon Lay 1-sty food factory with Hi-ceiling warehouse, cold rooms office Land Area: approx. 174,000 sq ft Floor Area: approx. 151,000 sq ft Tenure: 60 years leasehold from 1972 EOI closing date: Wednesday, 10 August 2016, 4pm Alvin Teng
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  • BANKING & FINANCE
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      165 15 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices NOTICE On 23 May 2016, the Plaintiffs, TEO TEE TEOW PTE LTD, TEO TEE KEE PTE LTD and CHOW HOO SIONG filed
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  • ENERGY & COMMODITIES
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      Lock icon RSPO suspension batters IOI Corp shares
      552 16  -  US agribusiness conglomerate Cargill has decided to stop buying palm oil from it By Pauline Ng btworld@sph.com.sg Kuala Lumpur THE first cut may be the deepest, but subsequent cuts have also proved painful for IOI Corporation whose Roundtable on Sustainable Palm Oil (RSPO) sustainability
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      Lock icon No takers for SunEdison though it has 100 offers for specific assets
      876 16 WP Washington FOR SunEdison, the whole is attracting less interest from buyers than its parts. Three months after filing for Chapter 11 bankruptcy protection with US$ 16.1 billion in liabilities, the developer has yet to field any bids
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      356 16 NAVIGATING THE CHALLENGES OF CUSTOMER SERVICE AND WORKPLACE STRESS Who should attend: Senior and Middle Management, Supervisors, Business Owners, Front-line Executives WOW! DEVELOPING CUSTOMER EXPERIENCE J U L 1 6 28THURSDAY Excellence in customer service yields tremendous benefits for any organisation’s reputation and business growth. Yet it only takes one
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  • TECHNOLOGY
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      Lock icon Microsoft earnings cushioned by cloud business
      768 17 Revenue of cloud business Azure more than doubles as the group returns to the black in quarter NYT Seattle MICROSOFT is best known for software products like Windows and Office. If you bought a PC, more often than not it came with Windows, and
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      980 17 NYT New York A YEARLONG digital training course for Irish high school teachers started in 2014. A fund to help European news outlets adapt to the Web popped up in 2015. And in March, a virtual reality exhibition began at a
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      Lock icon Hyperloop sues co-founder who accused it of nepotism
      225 17 BLOOMBERG Los Angeles HYPERLOOP Technologies Inc hit back at co-founder Brogan BamBrogan and three other former employees who last week accused the high-speed transportation startup of nepotism and mismanagement. The Los Angeles-based company that is trying to realise Elon Musk’s vision of
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      76 17 m KIDS rnllON (.URGE*' J°w* “Vh 20A7 •nti i i Ml BOOKYOUR SPACE NOW! Reach out to parents ages 25 45 years old with children ages 3-12 years old at SmartKids Asia. Promote your brand, products and services at Asia's Largest Educational Kids' Fair, established since 2012! CONTACT US NOW!
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      21 17 Jf&MV WifrC Watch our MV to rediscover the charm of Zaohao 0* bit.ly/zb_OfficialMV LIANHE Z AO B AO Chinese Language Content
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      44 17 “Is China’s success now clearing the way for India to take flight, too? This is but one of the tantalizing possibilities Ravi Velloor puts forward in his new book.” WILLIAM PESEK executive editor, Barron’s Asia Now on sale at all major bookstores and www.stpressbooks.com.sg
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      31 17 INDIAN UNICORNS Nine tech start-ups are valued at over US$1 billion. What’s their secret? Surat to Singapore on motorcycles GET YOUR COPY TOMORROW TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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      638 17 NOTICES IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF PHOENIX REAL ESTATE FUND PTE. LIMITED (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****9113E NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that, pursuant to Section 308 of the Companies Act, Chapter 50, the Final
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  • CONSUMER
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      Lock icon Netflix’s subscriber numbers fall short of its own forecasts
      755 18 Higher prices for some older customers have spurred increase in cancellations BLOOMBERG Los Angeles NETFLIX Inc added 1.68 million subscribers in the second quarter of 2016, falling short of its own forecasts as higher prices for some older customers spurred an
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      Lock icon China Film plans biggest IPO in country’s entertainment industry
      321 18 BLOOMBERG Hong Kong CHINA Film Co, the nation’s largest movie distributor, is planning a 4.09 billion yuan (US$831.5 million) initial public offering in what would be the biggest IPO in the country’s entertainment industry. The unit of state-owned China Film Group
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      Lock icon Universal bets big on Manila casino
      365 18 BLOOMBERG Manila KAZUO Okada, Universal Entertainment Corp chairman and former Steve Wynn partner, plans to challenge Macau in wooing Chinese gamblers to his Manila casino resort that could cost US$4 billion and is scheduled to open in November. Mr Okada, 73, wants his casino
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      70 18 Learn Mandarin Without Stress! newstalk.zaobao.sg keywords in hanyu pinyin and English See 掌 Explanation: mastery; grasp Build Listen as you read Record your reading for a real-time evaluation of pronunciation and fluency your own dictionary Try out this Chinese language e-learning tool today. Three different introductory plans* available. Subscribe NOW!
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  • TRANSPORT
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      Lock icon Volkswagen scandal reaches all the way to the top, lawsuits say
      1252 19 Accusations from three US attorneys-general contradict company’s portrayal of the deception NYT New York THREE attorneys-general on Tuesday directly challenged Volkswagen’s defence over its emissions deception, calling the decision to thwart pollution tests an orchestrated fraud that lasted more
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      Lock icon Drone-mounted flame thrower case may test FAA authority
      463 19 WP Washington THE father and son who posted videos of drones firing a handgun and incinerating a Thanksgiving turkey with a flame-thrower can be questioned by aviation regulators, a US judge ruled in a closely watched case that may determine the government’s
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      Lock icon Heathrow Airport investors ready to fund new runway
      381 19 REUTERS London SHAREHOLDERS in London’s Heathrow Airport are ready to invest 16 billion (S$28.6 billion) if the government chooses it as the site for airport expansion, one of the investors said in a letter to Britain’s new prime minister Theresa May. Heathrow,
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      Lock icon United’s Q2 profit exceeds analysts’ estimates on cost reductions
      324 19 BLOOMBERG Atlanta UNITED Continental Holdings Inc’s second-quarter profit exceeded analysts’ estimates as lower fuel and operating costs overcame weak fares. Adjusted earnings of US$2.61 a share beat the US$2.56 average of analyst estimates compiled by Bloomberg. United said on Tuesday that
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      57 19 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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      35 19 \\> e <e* rpv If? Vy\° \\l e S' e a.e S3 a e tf'') 6* c* 9 <cM v»' c Track your home’s financial performance Your confidential tracking page my Property Tracker www.srx.com.sg/*****_1 SRX.com .sg/property-tracker
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      94 19 NOTICES Miragold Group Limited Business Company Number: *****7 In Voluntary Liquidation Notice is hereby given that in accordance with the British Virgin Islands Business Companies Act. 2004 (as amended), the voluntary liquidation of Miragold Group Limited commenced on 14/07/2016 and that Lia Shiow Jiuan Nicole of 21 Collyer Quay #19-01
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  • GOVERNMENT & ECONOMY
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      434 20 THE STRAITS TIMES RECRUIT SCHOLARS' CHOICE Top Universities Scholarships Fair 2016 Participating Universities: AUSTRALIA UNIVERSITIES Monash University University of Melbourne University of New South Wales University of Sydney University of Western Australia CANADA UNIVERSITIES University of British Columbia University of Toronto University of Waterloo McGill University UK UNIVERSITIES Project Access
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  • OPINION
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      Lock icon ‘Drone’ money or zaito bonds more likely from the BOJ instead
      623 22 EDITORIAL AN awful lot of fuss and confusion has been created recently by reports that the Japanese government may be about to begin issuing “perpetual bonds” or non-repaya-ble IOUs, thus harking back to the 1930s when mili-tary-driven spending eventually
      623 words
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      Lock icon EU should treat Brexit as a wake-up call
      689 22  -  THE BOTTOM LINE By Ernst Welteke T The writer was president of Deutsche Bundesbank between 1999 and 2004, and is a member of the Official Monetary and Financial Institutions Forum Advisory Board. Frankfurt WITH his ill-considered referendum on European Union membership, David
      689 words
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      Lock icon Who would make America safe?
      1477 22  -  The US presidential campaign has opened up the racial divide, making the country less safe By Leon Hadar “THE only thing we have to fear is fear itself,” President Franklin D Roosevelt famously stated in his inaugural address in 1932, as Americans were beginning to
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      Lock icon Even with Brexit vote, UK-Asia trade could grow in both directions
      1007 23  -  COMMENTARY By Steven Cranwell T The writer is managing director and head of commercial banking at HSBC Singapore. FULL consequences of Brexit will take months or even years to emerge as Britain negotiates the terms of its departure. In
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      Lock icon Young professionals should go for leadership development programmes for a quicker transition to a bright future
      819 23  -  COMMENTARY By Lee Kwok-Wai T The writer is CFO, Asia Pacific at DHL Supply Chain. YOUNG professionals today seek fast career advancement, international exposure, and early leadership opportunities. Even in today’s world of slowing
      819 words
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      Lock icon Singapore: from planned chaos to a distinctive city
      1007 23  -  Its urban planning experience suggests that political will with public support, innovation, and boldness can make a vital difference. BY EUGENE TAN BY EUGENE TAN T The writer is associate professor of law at the Singapore Management University School of Law. SINGAPORE
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      922 24 SHIPPING TIMES FOONG SUN SHIPPING (PTE) LTD INDONESIA SUMATRA PORTS VESSEL VOY ETA ETD DESTINATION BERJAYA I 06/16 22/07 23/07 BELITUNG/PKL BALAM SRIJAYA 8 19/16 25/07 27/07 JAMBI/PEKAN BARU FLORA 8 05/16 IN PORT 23/07 PALEMBANG/PANJANG PULAU WEH 05/16 22/07 24/07 BELAWAN/MALAHAYATI INDONESIA JAVA SULAWESI PORTS VESSEL VOY ETA ETD
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  • LIFE & CULTURE
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      Lock icon IOC delays Russia-ban ruling until after court’s decision
      808 25 But it bars Russia’s Sports Minister from Rio Games, withdraws backing for international events in Russia AFP Lausanne THE International Olympic Committee has barred Russia’s Sports Minister Vitaly Mutko from the Rio Games and withdrew backing for international events in Russia over
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      Lock icon US$7K-a-month China blogger loses it all with just one post
      985 25 BLOOMBERG Hong Kong AT the peak of her WeChat blogging career, Laura Lian was earning about US$7,000 a month. Writing satirical articles for more than 220,000 fans, she won backing from an investor and quit her public relations job. Then
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      155 25 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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      91 25 s. 1 i KEYNOTE SPEAKER Kishore Mahbubani Dean and Professor in the Practice of Public Policy, Lee Kuan Yew School of Public Policy, National University of Singapore SPEAKER Eric Kong Fund Manager, Executive Director, Aggregate Asset Management SPEAKER Teh Hooi Ling Head of Research, Executive Director, Aggregate Asset Management PANELIST
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  • Page 25 Miscellaneous
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      342 25 CRYPTIC CROSSWORD Across 1 Partner to dash round record storage site (5) 4 Obscure muscles displayed by acrobat’s last trick (8) 10 A largely outspoken party of greenish hue (7) 11 Reportedly recognised gesture in avant-garde group (3,4) 12 Official covering English bank (4) 13 Retired peer with line that’s
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  • THE BUSINESS TIMES BT SALUTES ENTERPRISE 2016
    • Article, Illustration
      Lock icon Fighting fit
      526 1  -  SMEs are increasingly aware of the importance of training and upskilling to remain relevant in the fast changing world. In this third instalment of BT Salutes Enterprise, we feature some forward looking companies. MINDY TAN AS WE enter the third day of of our BT Salutes Enterprise series,
      526 words
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      Lock icon An artist’s dream turned gold
      1088 2 CNMC has slowly built up a steady gold production from scratch. Now it hopes to expand further across Malaysia and the region IT ALL began as a wish by a budding artist to free himself from having to bow down to commercial pressure in his
      PHOTO: DON WONG  -  1,088 words
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      Lock icon Ensuring the safest way to the top
      1052 3 Education is key when it comes to emphasising the importance of work safety, says Galmon CEO IT’S a proud and unblemished record that the bigwigs at Galmon want to maintain, and hope will never be broken. Throughout the company’s 34-year history, the homegrown
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      Lock icon Empowering staff to drive productivity and growth
      910 4 Goldbell Group believes in investing in the development of its employees at all levels SINCE its inception back in 1980, Goldbell Group has made it a top priority to treasure its relationships with all its stakeholders and customers. “The sale of a Goldbell
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      Lock icon Leading the transformation and innovation race
      1359 5 Imperium Solutions is relying on cutting-edge technology to sharpen its lead in the IT solutions space WHEN Imperium Solutions decided to transform its business from a traditional systems integrator business model into one that focused on disruptive technology in mid-2013, it was very much
      PHOTO: DON WONG  -  1,359 words
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      Lock icon Aspire to inspire
      286 6 / 7 ‘We want to slowly grow it into micro, small, medium level and hopefully we can reach the big miners’ status.’ CNMC chief executive Chris Lim ‘We hope to set a good example for the rest of the industry players or other stakeholders and show how serious we
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      Lock icon Government-accredited training school aims big
      1208 8 Leacov Singapore has grown rapidly on the back of demand for security courses to counter terrorism fears PROFESSIONAL security training company Leacov Singapore has only been operating for a few years. But its rapid growth has already attracted the attention of bigger boys. Subsidiaries of
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      Lock icon A promise to deliver
      1160 9 Leco Auto has become one of the top parallel importers of cars in Singapore by honouring its commitments to customers STEP into the Automobile Megamart in Ubi, and the potential car buyer might be inundated with choices. There are already more than a dozen showrooms for
      PHOTO: JOSEPH NAIR  -  1,160 words
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      Lock icon Growing at a steady pace
      1355 10 It is now working to grow its e-commerce, source for more quality products and professionalise its staff NEWBIES set ambitious targets to conquer market share when they enter a market by opening a large number of outlets, often under an aggressive timeframe. Not so for
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      Lock icon A one-stop service partner in tech and business solutions
      1118 11 ZONE Telecom has diversified beyond its voice stronghold to offer a range of Internet and cloud solutions for business needs DURING the dotcom boom, ZONE Telecom (ZONE) gave the local telco giants a run for their money when it introduced its
      Managing director Peter Ong (front) with his diverse team of dedicated staff at ZONE Telecom. PHOTO: DON WONG  -  1,118 words
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      Lock icon LAUD Architects – Eyeing the world stage
      1341 12 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
      PHOTO: DON WONG  -  1,341 words
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      118 1 Inside An artist’s dream turned gold 2 Ensuring the safest way to the top 3 Empowering staff to drive productivity and growth 4 Leading the transformation and innovation race 5 Government-accredited training school aims big 8 A promise to deliver 9 Growing at a steady pace 10 A one-stop service
      118 words
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      260 2 •luma Gold Resources Vs Gold Production 700,000 56 471 53,213 618,000 35 I nun m m 500,000 165,000 15.000 H 400,000 16 626 N 300,000 n 3 15,000 200,000 10 0CC 100,000 5.00C FY2013 FY2014 FY2015 •Y2013 FROM FY2015 Fne Gold Production ■Gold Resources Estimates V/ CJ JJVJC GDIDJ'jJJj'J.3 j-JDlDJj'JSS
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      68 3 NUMBER ONE PROVIDER of Mobile Elevating Work Platforms ZERO WORKPLACE ACCIDENT track record MOST TRUSTED AND ESTABLISHED regional brand SINGAPORE’S FIRST TRAINING CENTRE for work-at-heights safety J 7?mft ABOVE BEYOND ALL OTHERS WITH A SOLID FOUNDATION Galmon Galmon (S) Pte Ltd 50 Tuas Avenue 1, Singapore *****7 Tel: +65 6862
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      197 4 s'/ Bui re. 4 We don’t just believe in giving back to the community through deeds and charity but also in treating everyone as part of a family. Goldbell has been around for more than three decades, since the beginning, we have always recognised the spirit of giving and doing
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      218 5 DISRUPTIVE DIGITAL BUSINESS TRENDS 4{SDE5C) 4B23A®" -r 3 I 78F67F c Cloud computing is an on-demand pay-per-use, flexible and scalable model covering the entire IT stack from platforms to infrastructure to applications. The Consumerisation of IT and mobile computing are underpinning the next significant increase in end-user productivity, and for
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      101 8 LEACOV Excellence in Security Training A CHAIN IS ONLY AS STRONG AS ITS WEAKEST LINK All it takes is a Lapse, and the overall effectiveness of your security system is compromised. Let the trained and the experienced at LEACOV secure your business or property with watertight measures from the inside
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      174 9 CARS FINANCE INSURANCE f Like LECO www.leco.com.sg CARS FINANCE INSURANCE EXCEEDING ALL EXPECTATIONS SINGAPORE LEADING O U-l Y-l 41 YEARS 9V PARALLEL MPORTER'SLNCE 1975 2017 ALL NEW MB E200 Avantgarde 2.0L Turbo (Petrol) 2017 New Model TOYOTA C-HR u 1 Hl£CO L C-C O A s -JU. llECO Toyota Vellfire
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      174 11 a Audio/Web Conference Cloud Services Email/Web/VPS Hosting Web/Mobile Site Design Network Security Fibre Broadband Global Connectivity ZONE GIVES YOUR BUSINESS Domain Name Sales Pipeline Management IP Phone International Calls (IDD) Remote Storage ZONE offers your business cutting-edge information and communication solutions that are highly customisable and scalable to suit the
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      69 12 Kf. iin 9 j 9 m Wa 1 H i! I. t 1 j.j i iii llltil- M j < -T*r fi u2 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 IPraLsc-
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      112 13 Li i ml 3 r i kJ A y Com fori 0 o El v 4 -:i' ’SS.'JSft 4 iw *£t~~ii& v Vjvv'vTcasss a@g v.-.-Sis '-:..T: 3*, A'S.c'js Si am S9B Pass™ by MasterCard! .«N/\ “i. “-V'■* 4 {.T.- New Booking Your a > o Eiile< pick up pcxnt Eg.
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      105 14 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. v If— Nl—II —II—11—I M AWARDS FOR EXCELLENCE; 20l£ Asia s Best Bank
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