The Business Times, 19 December 2016

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Total Pages: 24
1 24 The Business Times
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  • Title Section
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    23 1 THE BUSINESS TIMES S$1.20 A SINGAPORE PRESS HOLDINGS PUBLICATION businesstimes.com.sg fb.com/thebusinesstimes @BusinessTimes CO REGN NO *****2868E MCI (P) 037/12/2016 Monday, December 19, 2016
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  • Article
    Lock icon MARKETS
    25 1 Weekly Change STI 2,937.86 -18.27 KL COMP 1,637.79 -3.63 NIKKEI 225 19,401.15 +404.78 HANG SENG 22,020.75 -740.23 SHENZHEN B 1,134.22 -28.30 DOW 19,843.41 +86.56
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  • Article, Illustration
    Lock icon DAILY DIGEST
    227 1 Asia remains very attractive for private banks even as growth has slowed, says Prince Maximilian von und zu Liechtenstein, chief executive of LGT Group. TOP STORIES 3 Lexus wants to be a “more emotional brand”, and it plans to achieve this through styling and performance. TOP STORIES 4
    227 words
  • Article, Illustration
    Lock icon Cloudier skies ahead for airlines in South-east Asia
    1100 1  -  Double whammy of stiff competition and rising fuel costs set to take its toll OUTLOOK 2017 By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT @Nisha_BT Singapore SOUTH-east Asia’s carriers are likely to be looking at a more challenging year in 2017, as airlines face a
    PHOTO: AFP; PHOTO: CHANGI AIRPORT GROUP  -  1,100 words
  • Article, Illustration
    Lock icon Gold: back to square one
    305 1  -  Prices for gold fell to the lowest in 10 months after the US Federal Reserve surprised the market with an outlook of three rate hikes in 2017, up from two previously. With the gains so far this year all but wiped out, analysts are divided
    Source: Bloomberg, Saxo Bank and World Gold Council  -  305 words
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      173 1 "*****1 3000 1 1 THE BUSINESS TIMES IWC. ENGINEERED FOR MEN step forward is still mirrored today in the IWC- manufactured ***** calibre. The fact that innovative new technology no longer needs an eternity to achieve legendary status can be seen in the annual calendar, I where the month, date
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      14 1 BANKING Asian markets key focus for OCBC in 2017: Samuel Tsien TOP STORIES 2
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      24 1 TOPLINE Asia looking to tap Europe’s offshore wind expertise companies markets 6 MONDAY MULTIPLE Lattes and pizzas, cars and drugs YOUNG INVESTORS’ FORUM 13
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  • TOP STORIES
    • Article, Illustration
      Lock icon Asian markets key focus for OCBC in 2017: CEO
      1151 2  -  He says Singapore should build on the connectivity role it plays so well and now it has to be among Asean and also between Asean and China By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore OCBC intends to pursue more opportunities in Asia
      FILE PHOTO  -  1,151 words
    • Article
      Lock icon Blockchain, a new-age tontine: OCBC chief
      667 2  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore BLOCKCHAINS, widely seen as the future of finance, may take banking right back into the past. To OCBC Bank chief Samuel Tsien, a true distributed ledger, if ever implemented, will mirror an old form of financing, the tontine.
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    • Article
      Lock icon Asia Wind Energy Association launched in Singapore
      421 2  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore EXECUTIVES from the wind energy sector have banded together to set up an Asian industry association in Singapore to promote the growth of wind energy in the Asia-Pacific. The Asia Wind Energy Association (AsiaWEA) will coordinate international
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    • Article, Illustration
      Lock icon Asia remains attractive for private banks: LGT’s Prince Max
      758 3  -  Acquisition of ABN Amro unit seen giving big boost to Liechtenstein bank’s AUM B y Siow Li Sen lisen@sph.com.sg @SiowLiSen Singapore ASIA remains very attractive for private banks even as growth has slowed, said Prince Maximilian von und zu Liechtenstein, chief
      PHOTO: LGT  -  758 words
    • Article
      Lock icon 2016: The year of the long shots
      925 3  -  WALL STREET INSIGHT By Rob Curran btworld@sph.com.sg IT WAS the week before Christmas and nothing stirred on the stock market, not even a very reachable index milestone. US stocks finished near records last week as traders bet the US economy could absorb higher
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    • Article, Illustration
      Lock icon New LC takes Lexus closer to emotion target
      672 4  -  The carmaker wants to build not just great cars but cars associated with “a better life and better experiences” By Samuel Ee samuelee@sph.com.sg Singapore LEXUS is striving to be a “more emotional brand”, and it plans to achieve this through styling and
      PHOTO: LEXUS  -  672 words
    • Article, Illustration
      Lock icon Developing staff via charity initiatives
      397 4 COMPANY OF GOOD Singapore WHAT better way to strengthen the relationships between the offices of a global company than through employee volunteer programmes? Chris Pardey, CEO of the RCMA Group, has been a long-time supporter of Bali Sports Foundation (BSF), a non-governmental organisation which serves
      PHOTO: RCMA  -  397 words
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      657 5 GF< 'INGWEEK Building a City of Good JlUMI/k/ U&U/! You made the time to make a difference. <: BM m I KB •jy 5 4 8Twenty8 Nails Accela Aesop Airmocks Alpha Development Partnerships Limited Angsana Routes ANZ Singapore Asian Venture Philanthropy Network Baby Style Icon Bank of Tokyo-Mitsubishi UFJ Be
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Asia looking to tap Europe’s offshore wind expertise
      1134 6  -  Dong Energy riding on strong interest in renewable energy source. TOPLINE BY TAN HWEE HWEE hweetan@sph.com.sg @HweetanBT OFFSHORE wind is gaining momentum in Asia, and the region is pivoting towards tapping north-west Europe’s experience with this fast-expanding renewable energy source. Part of
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    • Article, Illustration
      Lock icon Kingsmen Creatives celebrates 40 years in business
      130 6 The senior management of Kingsmen Creatives at the celebration of its 40th birthday at the Ritz-Carlton on Friday, Dec 16. From left: Anthony Chong, group managing director, exhibitions museums; Alex wee, group managing director, retail corporate interiors; Benedict Soh, chairman; Simon Ong, deputy
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    • Article
      Lock icon Vanke scraps plan to buy transit-firm stake amid ownership spat
      254 6 BLOOMBERG Shanghai CHINA Vanke Co said shareholder dissent led it to scrap plans to issue new shares intended to fund the purchase of a stake in Shenzhen Metro Group Co. Vanke terminated the plan to pay as much as 60
      BLOOMBERG  -  254 words
    • Article
      Lock icon When stockmarket declines affect compensation
      881 7  -  SID BOARDROOM SINGAPORE T ro" MATTERS By Shai Ganu T The writer Shai Ganu is a member of the Professional Development Committee of the Singapore Institute of Directors. SINCE January 2015, the Straits Times Index has dropped by approximately 15 per cent. The depressed share
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    • Article
      Lock icon Buying by directors up, sales flat; buyback activity declines
      1695 7  -  INSIDE MARKETS By Robert Halili T The writer is managing director, Asia insider Limited THE buying rose while there were no sales by directors last week based on filings on Singapore Exchange from Dec 12 to 16. A total of nine
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    • Article, Illustration
      Lock icon STI / Catalist WEEKLY
      64 8 STI Catalist WEEKLY Straits Times Index Dec 16,2016 2,937.86 -18.27 (-0.62%) Current streak 1 day Week high 2,955.23 Week low 2,930.77 52-week high 2,956.13 (Dec 9, 2016) 52-week low 2,539.95 (Feb 12, 2016) FTSE ST Catalist index Dec 16,2016 436.40 -7.34 (-1.65%) Current streak 2 days Week high 446.17 Week
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    • Article
      Lock icon GAINERS
      77 8 BY CENTS CLOSE UP 52w high/low SPDR S&P500 US$ ***** 891.4 2.8 *****/***** DBXT E50 US$ 4622 294.3 4.6 4667/3918 Lyxor US DJIA US$ 2026 152.9 5.5 2026/1573 Hyflux 6% CPS 9400 100.0 1.1 *****/9100 Lyxor Russia US$ 330 37.5 8.6 338/200 BY PERCENTAGE CLOSE UP 52w high/low Elektromotive
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    • Article
      Lock icon LOSERS
      74 8 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -491.9 -3.1 *****/***** DBXT Nifty US$ ***** -275.5 -1.5 *****/***** Jardine C&C 3987 -177.0 -4.3 4520/3160 DBXT China50 US$ 3014 -164.4 -3.6 3268/2355 Lyxor ChinaH US$ 1348 -89.4 -4.4 1442/999 BY PERCENTAGE CLOSE DOWN 52w high/low CN*****MBeCW*****9 3.4 -64.6 -6.2
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    • Article
      Lock icon UNUSUAL ACTIVITY
      82 8 VOL CLOSE($) CHANGE Luxking 37.0 0.450 +0.100 +28.57 Natural Cool 46,274.6 0.097 -0.094 -49.22 Grand Banks 27,932.155 0.275 +0.025 +10.00 CEFC Intl 493.1 0.128 -0.037 -22.42 Hoe Leong 748.1 0.019 +0.004 +26.67 China Haida 140.1 0.014 -0.007 -33.33 Progen 19.2 0.084 +0.011 +15.07 Civmec 1,195.0 0.470 +0.060 +14.63
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    • Article, Illustration
      Lock icon Good economic news is now good for stocks?
      665 8  -  STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT IT would be fair to say that Donald Trump is not a universally popular choice as the next US president today, more than a month after he won the election, there is pressure on the 538
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    • Article
      Lock icon STI STOCKS
      304 8 Stock name Close Change Wk high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 231 -9 241/229 257 209 6.6 6475.8 CapitaCom Trust 149.5 -7 156/148.5 164 127 5.8 4430.4 CapitaLand 302 -8 313/301 340 280 12.1 3 *****.2 CapitaMall Trust 190.5 -6.5 198.5/190.5 225 187
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    • Article
      Lock icon MOST ACTIVE
      33 8 VOLUME Noble 623,793,200 Spackman 456,060,800 Ezra 416,850,500 Ezion 212,519,800 ThaiBev 169,314,200 Market volume 11,323,819,000 VALUE DBS Grp 578,686,948 Singtel 415,553,014 UOB 276,176,583 OCBC Bank 269,475,600 Keppel Corp 250,240,708 Market value 5,710,212,000
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Dec 16 VALUE CLOSE BT OB/OS -190.00 -7.00 BT CADI -*****.00 -10.00 BT 10-day MA -*****.00 -19.00 FTSE ST Mid Cap 684.14 +2.28 FTSE ST Small Cap 382.02 -1.57 FTSE ST All Share 716.78 +1.85 FTSE ST China Top 160.72 +0.21 FTSE ST China 204.25 +1.65 FTSE
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    • Article
      Lock icon SGX ETFs
      112 8 Most Active Fund Last sale +/-(‘000) Wk high/low 52w high/low Buy/Sell Mcap STI ETF 298 -2 1453 301/297 303/254 298/299 IS MS INDIA US$ US671 -19 943 682/652 772/441 668/671 83.9 DBXT MSRussia US$ US248 +10 742 253/242 253/129 247/248 ABF SG Bond ETF 114.7 cd -0.6 454
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    • Article
      Lock icon COMPANY MEETINGS
      89 8 COMPANY MEETING PLACE DATE TIME Fuji Offset Plates E Conference Room 2 Jalan Rajah 20-Dec 10.00am #06-28 Golden Wall Flatted Factory Abundance Intl E 9 Joo Koon Circle 21-Dec 10.00am Next-Gen Satellite A SAFRA Toa Payoh Lor 6 Toa Payoh 21-Dec 2.00pm OKH Global Ltd A Marquis room
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share WEEKLY
      35 8 STI FTSE ST All-Share WEEKLY FTSE STAll-Share Index Dec 16,2016 716.78 -4.85 (-0.67%) Current streak 1 day Week high 721.27 Week low 714.93 52-week high 721.63 (Dec 9, 2016) 52-week low 629.34 (Feb 12, 2016)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE WEEKLY
      35 8 STI MSCI EAFE WEEKLY MSCI EAFE index Dec 16, 2016 1,668.60 -9.29 (-0.55%) Current streak 1 day Week high 1,698.42 Week low 1,664.36 52-week high 1,719.66 (Dec 25, 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 8 4 0 1 0 6 9 4 Manufacturing 42 64 30 17 18 12 59 82 42 Commerce 22 31 12 11 5 5 33 36 17 Tpt/Stor/Comms 11 14 7
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      125 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 90,839 843 91,682 388,479 134 388,613 Manufacturing 609,106 346,215 955,321 618,796 17,475 636,271 Commerce 907,468 191,287 1,098,755 439,042 3,194 442,236 Tpt/Stor/Comms 731,461 398 731,859 767,910 35 767,945 Finance 107,175 4,006 111,181 1,221,233 605 1,221,838 Construction
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    • Article
      Lock icon Chicago agricultural commodities end lower over the week
      429 8 COMMODITIES Chicago CHICAGO Board of Trade (CBOT) grains futures closed lower over the week which ended on Dec 16, on profit taking and ample crop stock. The most active corn contract for March delivery fell 3.25 cents weekly, or 0.9 per cent,
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    • Article
      Lock icon PRIME LENDING RATES
      256 8 Dec 16 BANKS Agricultural Bank Of China 5.50 Agricultural Bank Of China Bangkok Bank Public Co. Ltd 6.00 ANZ Singapore Bank of Communications 5.50 Bangkok Bank Public Co. Ltd ...6.00 Bank of China Limited Bank of Tokyo-Mitsubishi Bank of Communications Banque Internationale a Bank of East Asia
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    • Article
      Lock icon When the dust settles: 2016 and gold prices
      325 9  -  CURRENCIES By Woon Tian Yong T The writer is an Investment analyst at Phillip Futures GLOBAL markets experienced a tumultuous start this year, as a selloff in the Chinese equity markets acted as tinder for the global equity rout which followed. After
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    • FOREX RATES
    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        380 9 Dec 16 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Dec16 *****.00 *****.00 *****.00 *****.00 *****6 *****9 Jan17 *****.00 *****.50 *****.50 *****.00 ***** ***** NIKKEI 225 INDEX FUTURES Mar17 *****.00 *****.00 *****.00 *****.00 ***** *****1 Jun17 *****.00 *****.00 *****.00 *****.00 66 330 MSCI TAIWAN
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        205 9 Most active Dec 16 Prem Expiry Wk Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Charisma EnergyServicesW*****8 0.4 0.1 *****1 1 0 -33 1.50 59 Equation Summit LimitedW*****2 0.4 -0.1 ***** 1 1 27 2.75 8 DBS MB eCW*****0 10.5 0.5
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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 Dec 16 Index Change Change Change Change Change Change World Preliminary 1372.4 0.1 7.4 0.4 7.8 0.1 5.6 EAFE Preliminary 1036.5 0.3 2.3 0.6 -0.8 0.3 -2.8 Europe Preliminary 1457.1 0.2 3.1
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 Dec 16 $S Offer Bid 0vernight 0.05 0.01 1-month 0.75 0.625 2-months 0.875 0.75 3-months 1.0 0.875 Overnight mode: 0.05 US$ Offer Bid 7 days 0.80 0.70 1 month 0.95 0.75 2 months 1.00 0.80 3 months 1.10 0.90 6 months 1.40 1.20 9 months 1.60 1.40 12
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      • Article
        Lock icon GOVERNMENT SECURITIES
        61 9 Dec 16 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****A 4.000 01-Sep-18 104.36 5-Year N*****0Z 1.250 01-Oct-21 96.65 10-Year NX*****F 2.125 01-Jun-26 96.67 15-Year NZ*****F 2.875 01-Sep-30 100.56 100.80 100.70 20-Year NZ*****X 2.250 01-Aug-36 90.99 91.35 91.10 30-Year NA*****H 2.750 01-Mar-46
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 9 Dec-15 Price Net change change Last Trade Agricultural Dec-15 CBOT Soybeans (US cents/bu) 1029.00 5.25 0.51% 13/01/2017 CBOT Soybean Oil (US cents/lb) 36.74 -0.18 -0.49% 13/01/2017 CBOT Wheat (US cents/bu) 409.25 -8.75 -2.09% 14/03/2017 Dec-15 LIFFE Cocoa (£/tonne) 1823.00 -6.00 -0.33% 16/03/2017 LIFFE Coffee (US$/tonne) 2071.00 6.00 0.29%
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    • Article, Illustration
      Lock icon UK firms absorb Brexit shock, get on with business for 2017
      934 10 Many execs are trying to push their worries to one side and investing in expansion projects REUTERS London RICHARD Bunce says he felt sick when voters decided to take Britain out of the European Union (EU) in June, forcing
      REUTERS; PHOTO: REUTERS  -  934 words
    • Article
      Lock icon Economy pays tab for Japan Inc’s free lunch on overtime
      685 10 Paying staff for the hours they work could push up consumer spending by 13.4%, calculations show REUTERS Tokyo JAPANESE workers put up with long hours and unpaid overtime under pressure from cost-saving companies, and figures from government, which wants more
      REUTERS  -  685 words
    • Article
      Lock icon DIVIDENDS ANNOUNCED
      676 10 Payment Ex Rec Pay Ann (cts) date date date date AF Global ak 1.000 02-Dec 06-Dec 19-Dec 25-Nov AF Global aw 1.250 02-Dec 06-Dec 19-Dec 25-Nov AIMS AMP Cap Ind bi 0.124 04-Nov 08-Nov 22-Dec 27-Oct AIMS AMP Cap Ind do 2.540 04-Nov 08-Nov 22-Dec 27-Oct AIMS AMP
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    • Article
      Lock icon BROKERS’ RECOMMENDATIONS
      1118 10 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (times) Accordia Golf Trt 1.00 1.00 1 0.05 11.77 0.79 0.62 AIMS AMP Cap Industrial Reit 1.00 1.00 2 0.11 11.88 1.63 1.27 ARA Asset Mgt 1.25 1.25 2 0.09
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    • Article
      Lock icon SGX MAINBOARD
      2000 11 Week Ended: Dec 16 52-Wk Last Vol Week Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E $mil Company Last Sale Vol ('000) High Week Low 149 124.5 AIMSAMP Cap Reit 127 -4 4263 132 126.5 0.9 8.9 809.4 C'vr 172.5 101 ARA Asset
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    • Article
      Lock icon SGX CATALIST
      241 11 52-Wk Last Vol Week Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Last vol Week Div GrYld Net MCap High 0.5 0.1 t Advanced Systems 0.3 +0.1 1000 0.3 0.3 7.9 Company Sale (’000) High Low C'vr P/E 10.2 6.3 t 3Cnergy 6.5
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    • Article
      Lock icon SGX ETF
      181 11 52-Wk Last Vol Week Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter 115.6 97 CIMB APAC Div S$D 111 +2.2 20 111 110.5 Sale vol 3268 2355 DBXT China50 US$ US3014 -114 12 3131 3014 8.3 116.2 97.5 DBXT MS SING US$
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      1141 6 NOTICES Tel 6289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg CHINA KANGDA FOOD COMPANY LIMITED (Incorporated in Bermuda with limited liability) (Company Registration Number: *****) (Hong Kong Stock Code: 834) (Singapore Stock Code: P74) NOTICE OF SPECIAL GENERAL MEETING NOTICE IS HEREBY GIVEN that a SPECIAL GENERAL MEETING of the shareholders (the
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      63 7 ENJOYTIGHTER Trade FX majors from 0.6 pips at IG.com.sg or call us on +65 6390 5118 Losses can exceed deposits IG.com.sg FOREX SHARES INDICES COMMODITIES All forms of investment carry risks. Such investments may not be suitable for everyone. Refer to our Risk Disclosure Statement at IG.com.sg. IG Asia Pte
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      7 7 T For more articles, go to btd.sg/BMatters
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      94 9 Trade Gold For Gold Trade 1ozspotgold forlessthan US$100! Receive premium gold when you trade spot gold with Phillip Futures today.* 250 North Bridge Road #07-01 Raffles City Tower Singapore *****1 6538 0500 futures@phillip.com.sg www.phillipfutures.com.sg/gold All forms of investments carry risks, including the risk of losing more than the invested amount
      94 words
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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, Illustration
      Lock icon NYC’s new suburbia: More urban
      1441 12 The reinvention of suburban living is appealing to empty nesters and professionals in their 40s and 50s NYTIMES New York SOME suburbs around New York City are becoming decidedly less suburban, as new apartment buildings and condominium communities close to mass transit help expand the
      NYTIMES; PHOTOS: NYTIMES  -  1,441 words
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      50 12 Current Affairs Special Singapore Economy at the Crossroads What's Next? Watch ministers, business representatives and scholars discuss all about future economy! Broadcast details 6 Dec 2016 to 3 Jan 2017 New episode every Tuesday 9.30pm on StarHub TV E City CH111/825 ●10.00pm on zaobao.sg http://bit.ly/zb-it-matters Chinese programme with English subtitles
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  • BT-CITIBANK YOUNG INVESTORS’ FORUM
    • Article, Illustration
      Lock icon Lattes and pizzas, cars and drugs
      1981 13  -  The above are some of the key themes discussed in 2016; next year, this column may restart a series of basic articles on financial literacy, investing MONDAY MULTIPLE By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT YET another year is about to pass, and hopefully your portfolio
      PHOTOS: REUTERS, BLOOMBERG  -  1,981 words
    • Article
      Lock icon 10 outrageous predictions for 2017
      601 13  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore THIS year, as Denmark’s Saxo Bank said, is already one where reality is stranger than the most outrageous calls. In a yearly tradition, it nevertheless tries to come up with 10 far-out things that might shock the market next
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      104 13 GET STARTED NOW Be a young investor DO you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to
      104 words
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon Foreign banks in Britain pay fraction of tax rate
      1061 14 Some big banks paid average rate of 6% of profits, less than third of UK corporate rate of 20%; historic losses help banks reduce 2015 tax bills REUTERS London SOME of the biggest foreign investment and commercial banks operating in Britain
      REUTERS; PHOTO: BLOOMBERG  -  1,061 words
    • Article
      Lock icon Deutsche Bank admits to misleading clients in dark-pool trades
      743 14 BLOOMBERG New York DEUTSCHE Bank AG agreed to pay US$37 million and admit to misleading customers about its dark-pool stock-trading platforms to settle a joint state and federal probe, bringing the bank a step closer to resolving several potentially costly legal
      BLOOMBERG  -  743 words
    • Article, Illustration
      Lock icon Fidelity gives BlackRock early leg up in e-advice business
      477 14 REUTERS Boston FIDELITY Investments unintentionally boosted BlackRock’s prospects as a robo adviser with a small investment in a start-up company that BlackRock bought last year for an estimated US$150 million. BlackRock and Fidelity are only in the early stages of what
      REUTERS; PHOTO: REUTERS  -  477 words
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      1287 14 NOTICES Tel 6289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF BERGAYA INTERNATIONAL PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****3983W NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the members of BERGAYA INTERNATIONAL PTE. LTD.
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  • ENERGY & COMMODITIES
    • Article
      Lock icon Opec deal tests oil majors’ risk-reward appetite
      789 15 Total, for example, is preparing for final investment decisions in 2017 to develop Brazil, Uganda projects BLOOMBERG Paris OPEC’s deal to cut production and boost prices gives oil companies the opportunity to shake off two years of layoffs and slumping profits to start
      BLOOMBERG  -  789 words
    • Article, Illustration
      Lock icon Solar energy now cheaper than wind
      685 15 BLOOMBERG New York THERE’S a transformation happening in global energy markets that’s worth noting as 2016 comes to an end: Solar power, for the first time, is becoming the cheapest form of new electricity. There have been isolated projects in the past where this
      BLOOMBERG; PHOTO: AFP  -  685 words
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      110 15 Relax. Your weekend is here -cr: L 'ti-:' THE BUSINESS TJIJES x~":x Now you can enjoy THE BUSINESS TIMES Weekend edition every Saturday at your doorstep. m. Only 4.60 CL mi THE VMS THAT Hf OVER US OJ 5 /month A v Subscribe now at btsub.sg/weekend or call 6388 3838.
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  • TECHNOLOGY
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      Lock icon New startup wave challenges Japan’s aversion to risk
      838 16 Cash-rich corporations are increasingly delegating task of keeping pace with technologies to smaller businesses REUTERS Tokyo A WAVE of startups is emerging in famously risk-averse Japan as cash-rich corporations increasingly delegate the task of keeping pace with technologies such as artificial intelligence
      REUTERS; PHOTO: REUTERS  -  838 words
    • Article
      Lock icon US arsenal to counter hack faces limitations
      781 16 NYTIMES Washington OVER the past four months, US intelligence agencies and aides to President Barack Obama assembled a menu of options to respond to Russia’s hacking during the election, ranging from the obvious exposing President Vladimir Putin’s financial ties to oligarchs to the
      NYTIMES  -  781 words
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      Lock icon GitHub is building a coder’s paradise. It’s not coming cheap
      1272 16 BLOOMBERG San Francisco THOUGH the name GitHub is practically unknown outside technology circles, coders around the world have embraced the software. The startup operates a sort of Google Docs for programmers, giving them a place to store, share and collaborate
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,272 words
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      28 16 Which Upcoming BTO should I buy? SRX .com.sg Right Home. Right Price. Upcoming BTO Launches BTO Pricing Forecast BTO news Past BTO Launches BTO Buying Guide r srx.com.sg/hdb/BTO
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      226 16 In Small Change 2, Goh Eng Yeow shares with us the criteria of picking dividend stocks. He also explains the effect of share buybacks on shareholders’ interest and how we should watch the insiders’ trades to catch the “buy” signal. He talks about the myths of “buy in January” and
      226 words
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  • CONSUMER
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      137 17 NOTICES Tel 6289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF KRUGER WITT ASIA INDUSTRIES PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) (UEN. *****2621D) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act,
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      288 17 LOST SHARE CERTIFICATES NOTICE IS HEREBY GIVEN that the undermentioned original share certificates have been reported lost or destroyed SINGAPORE REINSURANCE CORPORATION LIMITED (Incorporated in the Republic of Singapore) Company Registration No. *****0016C Registered in the name of Certificate No. Lim Soon Buay *****119 SUPERIOR MULTI-PACKAGING LIMITED (Incorporated in the
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  • GOVERNMENT & ECONOMY
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      Lock icon Tillerson will need to change course at state
      722 18 NGOs have pointed to a host of concerns with ExxonMobil CEO’s new role as top US diplomat AFP New York REX Tillerson, who sealed big oil deals and developed close ties with foreign leaders around the globe as head of ExxonMobil, will
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      Lock icon Influx of Chinese investors angers Madagascans
      665 18 AFP Soamahamanina, Madagascar THE mine had not yet opened, but Madagascans were already seething with rage and the Chinese management finally quit Soamahamanina, leaving behind empty tents and cigarette butts. For months, this small city in central Madagascar was engulfed by protests targeted at
      AFP; PHOTO: AFP  -  665 words
    • Article
      Lock icon ‘Unpresidented’ Trump tweet on China sets off deluge of mockery
      399 18 AFP Washington US President-elect Donald Trump got plenty of attention but not the kind he was looking for after a tweet on Saturday calling out China for its seizure of an unmanned US naval probe. “China steals United States Navy
      AFP  -  399 words
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      Lock icon Summit concludes with Russia-Japan ties getting a bit warmer
      830 19  -  Many of the agreements were memoranda of understanding rather than firm contracts; territorial dispute still looms By Anthony Rowley btworld@sph.com.sg Tokyo JAPANESE Prime Minister Shinzo Abe and Russian President Vladimir Putin ended a two-day summit in Japan on Friday with an
      PHOTO: REUTERS  -  830 words
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      Lock icon Yen slide and Tokyo stock price climb set to continue
      633 19  -  By Anthony Rowley btworld@sph.com.sg Tokyo THE yen slumped to a more than ten-month low of 118.20 to the dollar in Tokyo on Friday and, with analysts saying that international tolerance for a weaker yen is rising, the currency is seen
      633 words
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      Lock icon Venezuela delays demonetisation of 100 bolivar notes amid rioting, protests
      630 19 AFP Caracas WITH protests rocking his unpopular government, embattled President Nicolas Maduro delayed until Jan 2 taking Venezuela’s highest-denomina-tion bill out of circulation. The 100 bolivar (S$ 14.5) bills would temporarily remain legal tender, Mr Maduro said on Saturday, but
      AFP; PHOTO: BLOOMBERG  -  630 words
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      Lock icon Duterte’s painkiller use draws concern
      382 19 AFP Manila PHILIPPINE President Rodrigo Duterte’s admission that he used a powerful painkiller has prompted concern about his health, with lawmakers urging him on Sunday to undergo a medical examination and disclose the results. Mr Duterte on Monday revealed that he used to take fentanyl,
      AFP  -  382 words
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      Lock icon China SOEs told to stop social welfare services
      1190 20 Move is part of plan to cut financial burden on heavily indebted state-owned firms REUTERS Pingdingshan, China CHINA has ordered state firms to smash the decades-old system of providing cradle-to-grave welfare support, known as the country’s “iron rice bowl”. But the order,
      REUTERS; PHOTO: REUTERS  -  1,190 words
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      Lock icon The empty days of S Korea’s impeached president
      733 20 AFP Seoul SOUTH Korea’s presidential Blue House has been something of a family home for Park Geun-hye, but the luxury residence has now become a place of solitary confinement for the impeached, isolated leader. Ms Park has twice called the Blue House
      AFP; PHOTO: AFP  -  733 words
    • Article
      Lock icon Bank of Korea holds key rate to weigh Fed, domestic politics
      607 20 BLOOMBERG Seoul SOUTH Korea’s central bank held the nation’s benchmark interest rate unchanged as it monitors risks from parliament’s vote to impeach President Park Geun-hye and the impact of the rate hike by the US Federal Reserve. In a
      BLOOMBERG  -  607 words
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      202 18 St+ news with benefits IN ASSOCIATION WITH wine our best picks <ul WINE ADVOCATE p.V/ J > jb* £V*## j?: Sr V 5. v V J;* k4R m Hr B0 'll I M t V Fine wines at your doorstep Subscribe to ST's new wine club and get up to
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      20 18 Choose from various club memberships or sell yours in CLASS 66 To advertise, call the Print Classified Hotline: 1800-289 9988
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      453 19 THE BUSINESS TIMES NOTICES IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF BEER MARKET PRIVATE LIMITED (IN CREDITORS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****5715Z Extract of the minutes by corporate representative of Purple Turtle Pte. Ltd. relating to the proceedings of subsidiary company under
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      47 20 a Don’t call me a civil servant. I consider that an insult.” Philip Yeo Now on sale at leading bookstores and www.stpressbooks.com.sg Get your 5th ‘C’ here Choose from various club memberships or sell yours in CLASS 66 To advertise, call the Print Classified Hotline: 1800-289 9988
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  • TRANSPORT
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      Lock icon Metro’s swelling needs alarm local govts in US
      1250 21 More than US$1b required over next three to improve transit system’s safety, reliability WP Washington METRO general manager Paul Wiedefeld has spent much of his first year studying how much it will cost to fix the region’s transit system. The price tag
      WP; PHOTO: REUTERS  -  1,250 words
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      Lock icon Austria searches freight trains in new frontline on illegal migration
      530 21 REUTERS Steinach am Brenner, Austria AUSTRIAN police have started searching freight trains travelling from Italy at night to tackle illegal migration and avert further deaths after two stowaways died earlier this month. A man and a woman from Eritrea who
      REUTERS; PHOTO: REUTERS  -  530 words
    • Article
      Lock icon Tata Motors emerges as key battle in biggest Indian proxy fight
      643 21 BLOOMBERG Mumbai TATA Motors Ltd, the US$22 billion producer of Jaguar sports cars and Land Rover sport utility vehicles, is shaping up as a key battleground in the fight for control of India’s biggest conglomerate. Tata Group is facing
      BLOOMBERG  -  643 words
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      Lock icon Uber, Lyft face pushback from US hometown taxis
      745 21 BLOOMBERG San Francisco A SAN Francisco taxi operator, desperate to protect a troubled industry’s turf, is trying to tighten the rules for Uber Technologies Inc and Lyft Inc in their hometown. In a struggle playing out across the US and in Europe,
      BLOOMBERG  -  745 words
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      1786 22 MONTREAL 10 120 29/7 30/7 4/8 MONTREAL 10 120 29/7 30/7 4/8 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) HCM SIN PKL PGU JKT SUR SUN PIONEER 002 60 20/12 21/12 23/12 FABULOUS SW 014 60 25/12 29/12 30/12 CALMY CORAL 107 60
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      245 22 ENG LEE SHIPPING CO PTE LTD Tel: *****222 (10 Lines) Fax: *****174/*****960 Website: www.englee.com.sg/Email: marketing@englee.com.sg CR No: **********0C REGULAR FEEDER SERVICES TO INDONESIAN (DE1) VESSEL VOY SIN ETA SIN ETD DESTINATION FREQUENCY Marco Polo 298 PRW077 20/12/2016 21/12/2016 Perawang/Perawang DAILY Marco Polo 132 BST011 20/12/2016 21/12/2016 Buatan/Buatan DAILY Marco Polo
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  • LIFE & CULTURE
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      Lock icon Henry Heimlich, of famed manoeuvre, dies at 96
      1043 23 He developed and crusaded for anti-choking technique credited with saving 100,000 lives NYTIMES New York IT IS called the Heimlich manoeuvre saving a choking victim with a bear hug and abdominal thrusts to eject a throat obstruction and since its inception in
      NYTIMES; PHOTO: REUTERS  -  1,043 words
    • Article
      Lock icon More firms in US tapping the skills of the recently retired
      732 23 Many “boomerang retirees” are being given the chance to come back part time NYTIMES New York CALL them “boomerang retirees”: people who exit gracefully after their career at a company, then return shortly afterward to work there part time.
      NYTIMES  -  732 words
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      Lock icon A gingerbread city guards its spicy secrets
      899 23 NYTIMES Torun, Poland THIS medieval city on the banks of the Vistula River is known for two things: astronomer Nicolaus Copernicus and gingerbread cookies. Copernicus was born here, although he would move as a student and live most of his life elsewhere. Yet
      NYTIMES; PHOTO: NYTIMES  -  899 words
  • Page 23 Miscellaneous
    • Miscellaneous
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      304 23 CRYPTIC CROSSWORD Across 7 Published letters in remote military camp (7) 9 Surface area of a prison about to be included (7) 10 Earlier religious house, incomplete (5) 11 Male in lengthy run in opera (9) 12 Doctor phoning later about boy don’t take offence (7,8) 13 Songbird in series
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