The Business Times, 15 December 2014
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2014-12-15
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The Business Times
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Title Section24 2014-12-15 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg O n@BTBreakingnews MCI (P) 051/08/2014 I Wednesday, October 8, 2014 Monday, December 1524 words
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Article, Illustration231 2014-12-15 1 Stocks in the US have incurred their biggest weekly loss since 2011 as investors reappraised the implications of the oil bust for the global economy. The losses are likely to mount this week unless the Fed retreats from hints that it’s ready to shift into ratehiking mode.TOP STORIES231 words
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Article25 2014-12-15 1 Weekly Change STI 3,324.13 -0.26 KL Comp 1,732.99 -16.38 Nikkei 225 17,371.58 -548.87 Hang Seng 23,249.20 -753.44 Shenzhen B 1,022.09 +17.39 Dow 17,280.83 -677.9625 words
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Article, Illustration1014 2014-12-15 1 Teh Shi Ning - But any benefits would also be crimped by domestic constraints and sluggish growth in EU and China, economists say By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT Singapore THE US Federal Reserve is expected to inch a step closer to a rate hike atSource: Bloomberg - 1,014 words
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647 2014-12-15 1 Anthony Rowley - By Anthony Rowley btworld@sph.com.sg Tokyo JAPANESE Prime Minister Shinzo Abe’s political gamble in calling a snap election paid off last night as exit polls gave his ruling Liberal Democratic Party (LDP) and its coalition partner, the New Komeito Party, a647 words
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Page 1 Advertisements
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Advertisement76 2014-12-15 1 *****4 CREDIT UNWORTHY One in five cardholders in S’pore pays only minimum sum TOP STORIES 4 NEW RESTAURANTS BANK OF SINGAPORE Poised for double-digit growth of up to 15% TOP STORIES 3 Homestyle cuisine in hipster haunts SUCCESSFUL INVESTING Tips from financial veterans BT-CITIBANK YOUNG INVESTORS’ FORUM 10 DINING OUT76 words
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TOP STORIES
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Article, Illustration986 2014-12-15 2 Rob Curran - Market outlook hinges on Fed’s view of the net effect of low oil prices on US economy WALL STREET INSIGHT By Rob Curran btworld@sph.com.sg STOCKS have incurred their biggest weekly loss since 2011 as investors reappraised the implications of the oil bust forPHOTO: BLOOMBERG - 986 words
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318 2014-12-15 2 Teh Shi Ning - By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT Singapore THE Federal Open Market Committee’s meeting later this week will be closely watched for more insight into when a rate hike should be expected, as well as a fresh batch of forecasts on the US economy. But318 words
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687 2014-12-15 3 Minister Tan Chuan-Jin also touches on local labour force developments and CPF changes up ahead Singapore LEGISLATION on the re-employment of older workers up to the age of 67 will be introduced by 2017, said Minister of Manpower Tan687 words
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863 2014-12-15 3 Siow Li Sen - By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore BANK of Singapore is back on track to post double-digit growth for 2014, likely as much as 15 per cent, according to its outgoing chief executive, Renato de Guzman. “This year863 words
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1441 2014-12-15 4 / 5 Jamie Lee - Pockets of risk 1 in 5 cardholders in Singapore pays just the minimum sum More older women are missing payments on credit cards than during Sars period in 2003; men are more prudent today CREDIT UNWORTHY By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore ONE in five credit-cardholders in Singapore are in1,441 words
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446 2014-12-15 4 / 5 Jamie Lee - By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore CONSUMERS here have not found savvy ways to play with their credit scores not yet, anyway, said William Lim, executive director of Credit Bureau Singapore. In the US, some borrowers have, perversely, even tried to446 words
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463 2014-12-15 4 / 5 REUTERS Washington THE US Senate has passed a US$1.1 trillion spending bill that lifts the threat of a government shutdown as Congress attempts to wrap up a two-year legislative session marked by bitter partisanship and few major accomplishments. The Senate’s 56-40 vote lastREUTERS - 463 words
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Advertisement482 2014-12-15 2 cutting through complexity KPMG Seminar Series Date Wednesday, 21 January 2015 Goods and Services Tax (GST) Seminar Getting ready for Malaysia GST Time 9.00am to 5.00pm Malaysia GST implementation will be effective from 1 April 2015, How would the introduction of GST in Malaysia impact your business? Are your operations482 words
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Advertisement59 2014-12-15 2 FACT. ERR Software costs way too much to maintain. Find out how we keep your costs down. Call us today! ERP+CRM Software A truly integrated solution Serving Singapore companies proudly for 22 years FACT Software International Pte Ltd (*****6146Z) 10 Hoe Chiang Road #14-07 Keppel Towers Singapore *****5 T+65 *****83259 words
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Advertisement557 2014-12-15 3 w r ASIA AWARD 20fl4 SUPREMACY OUTMOST INTEGRITY ASIA EXCELLENCE AWARD IS AN ESTEEMED BUSINESS ACCOLADE WHICH RECOGNIZES THE ENTREPRENEURIAL ELITES IN ASIA WHO HAVE CONSTANTLY STRIVED FOR HIGHER STANDARDS AND CONTRIBUTED IDEAS TO INFLUENCE THE ECONOMIC DEVELOPMENT. DESPITE ASIA EXCELLENCE AWARD’S STRINGENT CRITERIA FOR TAKING RECIPIENTS ON BOARD, THESE557 words
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COMPANIES & MARKETS
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Article, Illustration938 2014-12-15 4 / 5 LEE U-WEN - Having “experienced one of our best launches ever in Singapore”, it aims to replicate its success in places like Hong Kong and Seoul. BY LEE U-WEN TTTOPLINE Seoul.BY LEE U-WEN leeuwen@sph.com.sg @LeeUwenBT BEING the fourth and newest entrant in Singapore’sPHOTO: HAILO - 938 words
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Article, Illustration834 2014-12-15 4 / 5 MARCUS CHOW - Companies Act reform impact on directors A number of amendments affect the appointment, scope and disqualification of directors. BY MARCUS CHOW T The writer is a member of the Advocacy Research Committee of the Singapore Institute of Directors T For more articles, go to btd.sg/BMatters IN LAST week’s article on834 words
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1239 2014-12-15 6 Anita Gabriel - Carrier exits Malaysian bourse, hopes to be profitable and relist with 12-point “recovery plan” By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore FLAG carrier Malaysian Airline System Berhad (MAS) made its humble exit from the Malaysian stock market last Friday with1,239 words
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1575 2014-12-15 6 Robert Halili - INSIDE MARKETS By Robert Halili TThe writer is managing director, Asia Insider Ltd THE buying among directors surged in the past week, while the selling stayed low for the sixth straight week. Filings on the Singapore Exchange in the second week of1,575 words
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Article, Illustration64 2014-12-15 7 STI Catalist WEEKLY Straits Times Index Dec 12,2014 3,324.13 -0.26 (-0.01%) Current streak 1 day Week high 3,325.81 Week low 3,297.84 52-week high 3,350.50 (JNOV 28, 2014) 52-week low 3,013.15 (Feb 7, 2014) FTSE ST Catalist index Dec 12,2014 740.58 -6.90 (-0.92%) Current streak 1 day Week high 740.58 Week64 words
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Article, Illustration656 2014-12-15 7 R Sivanithy - TTSTOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT MORGAN Stanley in its outlook for Singapore a year ago noted that the correlation local blue chips have with the MSCI World Index over the previous 10 years was only 55 per cent. The conclusion656 words
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Article77 2014-12-15 7 BY CENTS CLOSE UP 52w high/low GLD US$ ***** 221.6 1.5 *****/***** DBXT MSUSA US$ 5242 199.4 3.0 5242/4303 SPDR DJIA US$ ***** 157.4 0.7 *****/***** SIA 1163 65.0 5.9 1165/941 DBXT S&P Short US$ 2273 64.3 2.2 2752/2215 BY PERCENTAGE CLOSE UP 52w high/low Advance SCT 0.2 100.077 words
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Article78 2014-12-15 7 BY CENTS CLOSE DOWN 52w high/low DBXT Nifty US$ ***** -636.1 -3.4 *****/9759 SPDR S&P500 US$ ***** -632.1 -2.3 *****/***** DBXT iBoxxSvEu US$ ***** -465.6 -1.3 *****/***** JMH USD 5815 -465.6 -5.8 6460/4934 DBXT MSEurope US$ 5628 -289.8 -3.8 6492/5366 BY PERCENTAGE CLOSE DOWN 52w high/low SembMar MBeCW*****2 0.578 words
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Article84 2014-12-15 7 VOL CLOSE($) CHANGE Epicentre 740.0 0.147 +0.027 +22.50 Darco Water Tech 60.0 0.025 -0.013 -34.21 China Haida 211.0 0.019 -0.004 -17.39 CH Offshore 11,518.0 0.505 +0.040 +8.60 PS Group 100.0 0.148 -0.012 -7.50 ISR Capital 294.0 0.021 -0.006 -22.22 China Intl 204.0 0.037 +0.003 +8.82 BlueSkyPower 128.0 0.16984 words
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Article306 2014-12-15 7 Stock name Close Change Wk high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 232 unch 237/229 250 206 6.1 5862 CapitaLand 329 unch 334/325 348 268 16.5 2.4 *****.1 CapitaMall Trust 201 +3.5 202/196.5 209 180 5.1 6971.3 CityDev 1005 +19 1012/986 1118 860 13.6306 words
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Article37 2014-12-15 7 VOLUME SIIC Environment 358,795,000 IHC 316,516,000 Digiland Intl 306,273,000 Mirach Energy 263,047,000 Golden Agri-Res 213,579,000 Market volume 7,469,367,000 VALUE DBS Grp 455,936,046 SingTel 427,349,796 Keppel Corp 303,516,638 UOB 288,165,326 OCBC Bank 262,689,704 Market value 5,444,082,00037 words
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Article109 2014-12-15 7 Most Active Fund Last sale +/-(‘000) Wk high/low 52w high/low Buy/Sell Mcap UETF SSE50China 202 -8 1782 217/192 217/140 200/202 63.1 IS MS India US$ US739 -40 1132 776/737 790/541 737/741 92.4 DBXT CSI300 US$ US906 +2 587 958/850 958/613 901/903 STI ETF 337 +1 554 338/335 343/298109 words
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Article93 2014-12-15 7 COMPANY MEETING PLACE DATE TIME KOP Ltd E 25 Tai Seng Avenue #01-01 Scorpio East Building 15-Dec 10.00am Giken Sakata A The Draycott Room Tanglin Club 5 Stevens Road 18-Dec 10.00am AEM HldgS E 52 Serangoon North Avenue 4 #07-02 19-Dec 11.00am ARA-CWT Trust Mgt E Suntec S'pore93 words
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Article77 2014-12-15 7 Dec 12 VALUE CLOSE BT OB/OS -645.00 +69.00 BT CADI -*****.00 +38.00 BT 10-day MA -*****.00 -64.00 FTSE ST Mid Cap 739.37 +0.50 FTSE ST Small Cap 491.20 +1.17 FTSE ST All Share 795.81 +1.22 FTSE ST China Top 184.59 +1.14 FTSE ST China 221.51 +2.15 FTSE77 words
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Article, Illustration36 2014-12-15 7 STI FTSE ST All-Share WEEKLY FTSE ST All-Share index Dec 12,2014 795.81 -1.41 (-0.18%) Current streak 1 day Week high 796.62 Week low 791.40 52-week high 816.11 (July 25, 2014) 52-week low 733.83 (Feb 7, 2014)36 words
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789 2014-12-15 7 COMMODITIES AFP London GLOBAL oil prices tumbled to fresh five-year-low points last week, while gold won support from its status as a haven investment in times of economic unrest, traders said. European stock markets slumped, dragged down by oil’s plunge and renewed concerns overAFP - 789 words
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Article, Illustration34 2014-12-15 7 STI MSCI EAFE WEEKLY msci eafe index Dec 12,2014 1,767.09 -65.02 (-3.55%) Current streak 5 days Week high 1,824.74 Week low 1,767.09 52-week high 1,993.20 (July 4, 2014) 52-week low 1,737.51 (Oct 17, 2014)34 words
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Article186 2014-12-15 7 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 9 1 0 0 0 6 9 1 Manufacturing 43 83 44 10 18 13 53 101 57 Commerce 21 37 14 7 9 5 28 46 19 Tpt/Stor/Comms 20 16 8186 words
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Article123 2014-12-15 7 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 94,066 94,066 432,140 432,140 Manufacturing 679,481 312,929 992,410 425,764 22,168 447,932 Commerce 607,000 115,861 722,861 328,162 7,561 335,723 Tpt/Stor/Comms 574,426 5,018 579,444 932,615 1,771 934,386 Finance 235,326 714 236,040 1,208,534 166 1,208,700 Construction 140,108 88,488123 words
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478 2014-12-15 8 CURRENCIES BLOOMBERG New York THE yen had its biggest weekly advance against the dollar in 16 months last week as the market contagion from the rout in crude oil prices drove investors to haven currencies and JapanBLOOMBERG - 478 words
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FOREX RATES
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Article471 2014-12-15 8 Dec 12 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.955 5.121 0.667 6.416 51.622 103.028 0.983 9.124 2.891 1.061 83.244 36.890 1.086 9.603 0.801 25.923 27.141 0.527 0.828 Canada 1.047 5.364471 words
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Article155 2014-12-15 8 Dec 12 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0850 1.0861 0.8273 0.8279 Canadian dollar 1.1367 1.1375 0.8671 0.8667 Euro 1.6267 1.6275 1.2403 1.2406 NZ dollar 1.0224 1.0234 0.7796 0.7801 Sterling pound 2.0609 2.0622 1.5714 1.5719155 words
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Article22 2014-12-15 8 Dec 12 S$ Bid Offer 1-month 1.3121 1.3125 2-months 1.3123 1.3128 3-months 1.3120 1.3126 6-months 1.3123 1.3128 Source: OCBC22 words
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BANK RATES
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Article154 2014-12-15 8 Dec 12 $S Offer Bid 0vernight 0.08 0.03 1-month 0.4375 0.3125 2-months 0.4375 0.3125 3-months 0.4375 0.3125 Overnight mode: 0.14 US$ Offer Bid 7 days 0.18 0.08 1 month 0.25 0.15 2 months 0.30 0.20 3 months 0.40 0.20 6 months 0.50 0.30 9 months 0.60 0.40 12154 words
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Article36 2014-12-15 8 Dec 12 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) 1 mth 0.***** 3 mths 0.***** 6 mths 0.***** Source: Thomson Reuters36 words
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Article63 2014-12-15 8 Dec 12 Dec 12 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105.39 5-Year N*****0H 1.625 01-Oct-19 100.64 100.70 100.64 10-Year NY*****H 3.000 01-Sep-24 107.01 106.92 106.92 15-Year NY*****E 2.875 01-Jul-29 104.21 20-Year NZ*****V 3.375 01-Sep-33 110.02 30-Year NA*****N63 words
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EQUITY BONDS WARRANTS FUTURES
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Article365 2014-12-15 8 Dec 12 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.69 *****.19 *****.19 Mar15 *****.00 *****.00 *****.00 *****.00 *****1 *****5 Jun15 *****.00 *****.00 *****.00 *****.00 1 2641 MSCI TAIWAN INDEX FUTURES SPOT 333.90 335.54 333.13 Dec14 332.20 334.60 331.30 332.00 ***** *****8 Jan15 332.60365 words
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211 2014-12-15 8 Most active Dec 12 Prem Expiry Wk Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left KepCorp MB eCW*****2 7.6 -1.2 ***** 0.2 900 6 DBS MB eCW*****2 13.8 2.6 ***** 0.1 0 6 Rowsley Ltd W*****3 4.2 0.4 ***** 1 18211 words
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373 2014-12-15 8 In local curr In S$ In US$ dy yr dy yr dy yr Dec 12 Index Change Change Change Change Change Change World Preliminary 1246.3 -1.2 5.2 -1.2 5.3 -1.0 1.2 EAFE Preliminary 964.9 -1.6 0.9 -1.4 -4.1 -1.1 -7.8 Europe Preliminary 1341.7 -2.4 -1.0373 words
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AGRI METALS ENERGY
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Article212 2014-12-15 8 Dec-12 Price Net change change Last Trade Agricultural Dec-12 CBOT Soybeans (US cents/bu) 1047.25 5.00 0.48% 14/01/2015 CBOT Soybean Oil (US cents/lb) 31.97 0.04 0.13% 12/12/2014 CBOT Wheat (US cents/bu) 627.50 17.25 2.83% 12/12/2014 Dec-12 LIFFE Cocoa (£/tonne) 1909.00 -13.00 -0.68% 12/12/2014 LIFFE Coffee (US$/tonne) 1944.00 6.00 0.31%212 words
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Article57 2014-12-15 8 Dec 12 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 14 2190.0 2154.0 2190.0 2165.0 283 1784 Jan 15 2182.0 2159.0 2199.0 2150.0 1103 ***** Feb 15 2199.0 2171.0 2216.0 2165.0 ***** ***** Mar 15 2200.0 2174.057 words
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Article, Illustration195 2014-12-15 9 Singapore TEO Soon Hoe, a long-time stalwart of conglomerate Keppel Corp, has died. The Straits Times reported that it understands that Mr Teo died on Sunday after a six-month battle with cancer. He spent nearly four decades with the group. Prior to195 words
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189 2014-12-15 9 REUTERS Tokyo TAKATA Corp has begun enforcing tighter quality controls on a group of parts suppliers as the vehicle safety equipment maker boosts production to replace millions of airbags recalled for a potentially deadly defect, according to people involved. Takata, whose exploding airbags haveREUTERS - 189 words
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Article806 2014-12-15 9 Payment Ex Rec Pay Ann (cts) date date date date AIMS Property ag 0.109 26-Sep 30-Sep 19-Dec 23-Sep AIMSAMP Cap Reit (1 Jul-30 Sep 2014) ct 2.770 05-Nov 07-Nov 23-Dec 30-Oct Asian Pay Tel Tr (1 Jul-30 Sep 2014) ap 2.000 10-Dec 12-Dec 19-Dec 06-Nov Ausnet Services az806 words
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366 2014-12-15 9 Kalpana Rashiwala - By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore XMH Holdings, a diesel engine provider for the marine and industrial sectors, has posted net profit of S$711,000 for the second quarter ended Oct 31, down 64.9 per cent from a year ago. Revenue366 words
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Article267 2014-12-15 9 Dec 12 BANKS Agricultural Bank Of China 5.50 Agricultural Bank Of China Bangkok Bank Public Co. Ltd ANZ Singapore ...5.50 Bank of Communications 5.50 ...6.00 Bank of China Limited ...5.50 Bank of Tokyo-Mitsubishi UFJ, Ltd Bank of East Asia Banque Internationale a Bank of Singapore ...5.50 Bank267 words
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Article1576 2014-12-15 9 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price AIMS AMP Capital Industrial REIT 2.50 2.00 2 10.85 13.32 1.55 1.45 ARA Asset Management Limited 2.00 2.00 4 10.45 15.98 1.97 1.67 Ascendas Hospitality Trust Mgt1,576 words
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Advertisement90 2014-12-15 4 / 5 Being recognised is even more gratifying when it comes with your enduring trust. Q A y ■i I V, j I Zb 4 C C 4 m Best Private Bank in Singapore, 2013 Asian Private Banker Best Private Wealth Management Bank in Southeast Asia, 2014 Best Private Wealth Management Bank90 words
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BT-CITIBANK YOUNG INVESTORS’ FORUM
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TIPS FROM FINANCIAL VETERANS
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Article, Illustration598 2014-12-15 10 Founders of well established and respected fund management firms as well as an economist and author shed light on the art of successful investing BLOOMBERG T John Clifton “Jack” Bogle, 85, founder, The Vanguard Group By Carla Fried Q: For a patient investorBLOOMBERG; PHOTOS: BLOOMBERG, AFP - 598 words
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Article, Illustration579 2014-12-15 10 BLOOMBERG T Mario Gabelli, 72, founder, Gamco Investors By Lewis Braham Q: In your experience what is the biggest mistake investors are prone to make? A: Chasing fads. In the 1960s, it was bowling alleys. In the 1970s, the Nifty Fifty. The 1980s, leveragedBLOOMBERG - 579 words
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Article, Illustration485 2014-12-15 10 BLOOMBERG T Burton Malkiel, 82, economist and author of “A Random Walk Down Wall Street” By Ben Steverman Q: We’re into the season of the “year ahead” predictions. How useful do you think those are? A: There isn’t anybody who can tell youBLOOMBERG - 485 words
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Article, Illustration686 2014-12-15 10 BLOOMBERG T Mark Mobius, 78, executive chairman, Templeton Emerging Markets Group By Suzanne Woolley Q: You’ve written recently about how some US companies can be seen as emerging markets investments. Why? A: There are many companies listed in London, New York, evenBLOOMBERG - 686 words
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Page 10 Advertisements
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Advertisement113 2014-12-15 10 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 to113 words
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REAL ESTATE
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585 2014-12-15 11 Kalpana Rashiwala - Solar photovoltaic systems to be installed at 680 HDB blocks, three HDB-owned commercial properties By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore THE Housing Development Board (HDB) has awarded its largest solar leasing tender to date. The tender was awarded to Sunseap Leasing Pte Ltd.585 words
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726 2014-12-15 11 REUTERS Madrid ON a street in central Madrid, Juan Jose Perucho points to where he is going to build one of the capital’s tallest residential blocks after buying a site bigger than five football pitches from the state-owned metro network. “We’ve soldREUTERS - 726 words
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Article, Illustration825 2014-12-15 11 REUTERS Aubervilliers, France IN the middle of 2008, construction began on France’s biggest mall project in a decade. Weeks later the US credit and housing crisis slammed into Europe, and promoters of Le Millenaire braced for a big hit to their hopes. RealityREUTERS; PHOTO: REUTERS - 825 words
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Page 11 Advertisements
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Advertisement100 2014-12-15 11 It: DELECTABLE DELIGHTS AT MANDARIN ORCHARD SINGAPORE Available from 24 November to 31 December 2014 Choose from a delicious array of Christmas roasts and sweet and savoury delights, featuring the Roasted Pork Belly Roulade with fresh thymes and mustard, and the Cherry Hokkaido Cream Fairy Tale yule log perfect for100 words
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BANKING & FINANCE
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258 2014-12-15 12 REUTERS New York UBS AG’s Wealth Management America has made it easier for brokers to earn a key bonus in 2015 under its revised compensation package, which could boost top advisers’ overall pay to an all-time high. Advisers who bring inREUTERS - 258 words
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Article, Illustration1273 2014-12-15 12 Special laws passed by some states allow insurers to reduce sharply reserves they are required to hold NYT New York SOME companies have been called economic traitors for seeking to lower their tax bills by moving overseas. But life insurersNYT; PHOTO: REUTERS - 1,273 words
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412 2014-12-15 12 Shanghai A PLANNED insurance fund for China’s trust industry will have an initial size of around 40 billion yuan (S$8.5 billion), the stateowned China Securities Journal reported, citing unidentified officials from the banking regulator. The fund, the first of its kind,412 words
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538 2014-12-15 12 They are offering over US$500m for the credit rating agency: sources REUTERS New York A PRIVATE equity consortium of Carlyle Group LP and Warburg Pincus LLC is in advanced talks to acquire privately held credit rating agency DBRS Ltd for more thanREUTERS - 538 words
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Page 12 Advertisements
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Advertisement1482 2014-12-15 12 The Business Times NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 and IN THE MATTER OF SPITFIRE CONSULTANTS PTE. LTD. Company Regn No *****0780M (In Voluntary Liquidation) NOTICE IS HEREBY GIVEN that the Creditors of the abovenamed Company, which is being wound up voluntarily, are required on or1,482 words
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ENERGY & COMMODITIES
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774 2014-12-15 13 Traders can make money by buying crude to put into storage, giving the oil market some support OIL ROUT REUTERS New York OIL traders searching frantically for an end to the deepest price rout since the 2008 financial crisis should forget about OpecREUTERS - 774 words
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Article, Illustration634 2014-12-15 13 REUTERS New York OIL’S slide to the lowest price in more than five years is carving a divide between US shale drillers which heavily hedged future production and those which didn’t. While financial hedges are commonly required by many oilfield lenders,REUTERS; PHOTO: REUTERS - 634 words
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Article, Illustration699 2014-12-15 13 With oil at US$60 a barrel, US producers have curbed spending BLOOMBERG San Francisco US OIL drillers idled the most rigs in almost two years as they face oil trading below US$60 a barrel and escalating competitionBLOOMBERG; PHOTO: BLOOMBERG - 699 words
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914 2014-12-15 13 As crude prices plunge, highly leveraged companies may face cash crunch REUTERS Houston BANKS are responding to tumbling crude prices by trimming the value of oil reserves tied to credit lines, possibly causing a cash crunch for some highly leveraged USREUTERS - 914 words
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TECHNOLOGY
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Article, Illustration2422 2014-12-15 14 It also manages to mobilise thousands of supporters fast to protest curbs that officials try to place on its operations WP Washington ON A Thursday in June, bureaucrats from Virginia’s Department of Motor Vehicles (DMV) made their move againstWP; PHOTO: REUTERS - 2,422 words
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415 2014-12-15 14 REUTERS Brussels HACKING of computers at Belgian telecoms firm Belgacom, alleged to have been carried out by a British spy agency, was more far-reaching than previously thought and went undetected for more than two years, according to reports. News of theREUTERS - 415 words
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222 2014-12-15 14 REUTERS Boston THE Federal Bureau of Investigation has warned US businesses to be on the alert for a sophisticated Iranian hacking operation whose targets include defence contractors, energy firms and educational institutions, according to a confidential agency document. The operation isREUTERS - 222 words
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Article, Illustration741 2014-12-15 15 New CEO promises to increase shareowner value despite challenging growth environment BLOOMBERG New York UNITED Technologies Corp’s new chief executive officer said that he will consider acquisitions in excess of US$ 20 billion as he reviews portfolio changes that could alsoBLOOMBERG; BLOOMBERG FILE PHOTO - 741 words
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388 2014-12-15 15 REUTERS San Francisco FACEBOOK has stopped including results from Microsoft Corp’s Bing search engine on its social networking site. The move, confirmed by a company spokesman, comes as Facebook revamped its own search offerings, introducing a tool last Monday that allows users to quickly findREUTERS - 388 words
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Article, Illustration391 2014-12-15 15 REUTERS Jakarta STATE-owned telecom firm PT Telekomunikasi Indonesia Tbk will take the lead in a US$24 billion drive to expand Indonesia’s broadband capacity over the next five years, the communication and information minister said. Rudiantara, part of newly elected President Joko Widodo’sREUTERS; PHOTO: BLOOMBERG - 391 words
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Page 15 Advertisements
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Advertisement1051 2014-12-15 15 SERIAL SERIAL SYSTEM LTD Company Registration Number: *****2071D (Incorporated in the Republic of Singapore on 22 April 1992) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (“EGM”) of Serial System Ltd (the “Company”) will be held at 8 Ubi View #05-01, Serial System Building,1,051 words
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Advertisement329 2014-12-15 15 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF DAUPHIN SHIPYARD PTE LTD (IN LIQUIDATION) Co. Reg No. *****1942H NOTICE OF MEETING TAKE NOTICE that a meeting of the creditors of the abovenamed Company will be held as follows: Date :22nd December 2014 Time 9.30329 words
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Advertisement301 2014-12-15 15 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF CRM COMMODITY RISK MANAGEMENT TECHOLOGY PTE. LTD. COMPANY REG. NO. *****3645H (In Members’ Voluntary Winding Up) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN, pursuant to Section 308 of the Companies Act, Cap. 50 that the301 words
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CONSUMER
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Article, Illustration1291 2014-12-15 16 Chinese factories working faster, hoping to build profits and market share before regulatory scrutiny NYT Shenzhen IN a grimy workshop, among boiling vats of chemicals, factory workers are busy turning stainless steel rods into slender tube casings, a crucial component of electronic cigarettes.NYT; PHOTO: AFP - 1,291 words
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650 2014-12-15 16 BLOOMBERG London AS BT Group Plc seeks to return to the mobile-phone market, Britain’s former telecommunications monopoly is encountering an unexpected bonus: the country’s two biggest wireless providers are competing for its attention. That could mean lower prices and more favourableBLOOMBERG - 650 words
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Page 16 Advertisements
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Advertisement70 2014-12-15 16 12th edition 19 22 March 2015 Singapore EXPO Hall 6 11am 10pm Daily Participate in Singapore’s MEGA Food Beverage Fair Sell local international food products to over 250,000 visitors during the March school holiday period! Book Your Space NOW! *Limited Booths Available! For more information, call *****620 or email to70 words
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GOVERNMENT & ECONOMY
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1030 2014-12-15 17 Stagnant US inflation has become less of a concern in light of continued improvement in labour markets REUTERS Washington FOR the Federal Reserve, deciding when to raise rates for the first time in nearly a decade hasREUTERS - 1,030 words
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318 2014-12-15 17 REUTERS Berlin A MAJORITY of Germans think Angela Merkel’s government is paying too little attention to concerns about immigration and asylum-seekers that have prompted weekly marches in the city of Dresden, according to a poll. In the survey by TNSREUTERS - 318 words
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Article, Illustration635 2014-12-15 17 Lazard banker Antonio Weiss seen as being too close to Wall Street BLOOMBERG Washington SOME of the biggest names on Wall Street came to the defence of US Treasury nominee Antonio Weiss as lawmakers criticise the Lazard Ltd banker for beingBLOOMBERG; PHOTO: BLOOMBERG - 635 words
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190 2014-12-15 17 XINHUA Bangkok THAILAND might not have a new general election until mid-2016, given the likelihood of a referendum to be held after the drafting of a permanent constitution is completed, a renowned Thai academic said on Sunday. The possible referendum on the new constitution,XINHUA - 190 words
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631 2014-12-15 18 Anthony Rowley - China is the world’s third largest foreign investor; its outward investment is set to exceed inward this year By Anthony Rowley btworld@sph.com.sg Tokyo CHINESE overseas investment has surged massively in recent years, to the point where China is now the world’s third largest foreign631 words
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Article, Illustration869 2014-12-15 18 AFP Shanghai HUNDREDS of thousands of investors are piling into China’s stock market on the back of a spectacular rally, driving up prices in a borrowing-fuelled frenzy despite warnings of heightened risks. The benchmark Shanghai Composite Index was sentAFP; PHOTO: AFP - 869 words
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Article, Illustration648 2014-12-15 18 NYT London THEY were among Britain’s most durable stereotypes and, for some, they still are: the flat-vowelled northerner in an equally flat cloth cap, denizen of dark and distant mill towns; and the silver-tongued southerner, the city gent with bowler hatNYT; PHOTO: REUTERS - 648 words
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Article, Illustration432 2014-12-15 18 REUTERS Perth AUSTRALIA will take budget measures to cushion an economy facing its worst decline in terms of trade in more than half a century, Treasurer Joe Hockey said on Sunday, with the government poised to unveil large cuts toREUTERS - 432 words
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580 2014-12-15 19 Central bank faces looming deflation in eurozone AFP Frankfurt THE plunge in oil prices is making it tougher than ever for the European Central Bank (ECB) to achieve its core mission of keeping prices stable at a time it faces looming deflation,AFP - 580 words
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Article, Illustration1230 2014-12-15 19 NYT New York SINCE Kerry Devine, 32, and her friends began having children, she has noticed a stark difference between her female friends in Auburn, Washington, where she lives, and those in England and Cyprus, where she grew up. InNYT; PHOTO: NYT - 1,230 words
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748 2014-12-15 19 Futures contracts for several products on the way to manage market fluctuations AFP Paris THIRTY years after introducing quotas to combat the butter mountain caused by overproduction, the EU is on the cusp of freeing up the dairy sectorAFP - 748 words
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529 2014-12-15 20 AFP Paris AFTER decades making brief, murderous forays from central Africa’s forests, Ebola erupted into a global emergency in 2014. Yet its success could spell its downfall as scientists scramble to relegate it to a footnote of medical history. FromAFP - 529 words
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789 2014-12-15 20 Neil Behrmann - Between 2000 and the end of 2013, developed economies’ outstanding debt soared by US$66 trillion to US$102.7 trillion By Neil Behrmann btworld@sph.com.sg London A MASSIVE developed nation surge in sovereign and corporate bonds and other debt is seriously disturbing for789 words
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Article, Illustration452 2014-12-15 20 REUTERS Washington THOUSANDS of demonstrators marched in Washington, New York and Boston on Saturday to protest against killings of unarmed black men by police officers. Organisers said the marches were among the largest in a recent wave ofREUTERS; PHOTO: REUTERS - 452 words
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603 2014-12-15 20 Under Lima deal, govts to submit plans to rein in greenhouse gas emissions by March REUTERS Lima ABOUT 190 nations agreed on Sunday the building blocks of a new-style global deal due in 2015 to combat climate change amidREUTERS - 603 words
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Page 17 Advertisements
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Advertisement271 2014-12-15 17 FUTURE i I t I II I i i f a CHINA I ADVANCED LEADERS PROGRAMMI Groominmfutvre leaders to be “China-ready” China-savvy fttmd I Connected” H Future China Advanced Leaders Programme is a very good platform to keep one informed of the developments in China. This platform gives you a271 words
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Page 19 Advertisements
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Advertisement258 2014-12-15 19 Yeo Sang Ping Remisier Lim Tan Securities Pte Ltd Technical analysis is a methodology often used by traders to forecast future price trends of stocks. This allows them to identify the optimum buy and sell time of a stock, thus making the most out of their trades. Having the right258 words
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Advertisement75 2014-12-15 19 So?? sit* <x on «DVE LARGEST Fair ASIA’S Educational Kids’ Singapore expo 20-22 March 2015 If your business targets families with kids between the age of 0 -12, we have the right platform for you! GUARANTEE? TARGETS? CROW?! Join us at smartKi?s Asia 2015! vCall us to enquire how we75 words
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Page 20 Advertisements
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Advertisement76 2014-12-15 20 ONLINE SALE www.oaks.com.sg Wine, Whisky, Sake, Champagne, Life Style and Wine Accessories Over 500 products available Champagne Best Offer! I Dom Perignon Now: SS490.00 Rose 1996 usual: s$625.oo Veuve Fourny Now: S$139.00 Clos Notre-Dame ler Cru 2005 s$205.oo It's A 'Discovery! The Oaks Cellars Pte Ltd 315 Outram Road #12-0976 words
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Advertisement20 2014-12-15 20 HongLeongGroup is Singapore's top seller of residential units for three consecutive years To subscribe, call 6388-3838 or go to sphsubscription.com.sg20 words
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TRANSPORT
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589 2014-12-15 21 Next week it takes delivery of the first A350 XWB next-generation plane from European maker Airbus AFP Dubai WITH deep pockets and hundreds of new planes on order, Qatar Airways is one of a trio of fast-growing Gulf carriers seekingAFP - 589 words
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Article, Illustration732 2014-12-15 21 BLOOMBERG London THE number of supertankers sailing to China jumped to a record in ship-tracking data amid signs that the oil-price crash is spurring the Asian nation to stockpile. There were 83 very large crude carriers bound for Chinese ports, according toBLOOMBERG; PHOTO: BLOOMBERG - 732 words
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Article, Illustration703 2014-12-15 21 REUTERS New York AMERICANS shopping for toy remotecontrolled airplanes or helicopters may find, some time in the near future, that they come with unexpected accessories: a raft of new regulations. The Federal Aviation Administration (FAA), by the end of the month, isREUTERS; PHOTO: AFP - 703 words
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353 2014-12-15 21 BLOOMBERG New York AMERICAN Express Co renewed its agreement with Delta Air Lines Inc to be the carrier’s exclusive credit-card issuer. The relationship will be extended for six years after the companies decided to renew the deal before the contract expired, Atlanta-based DeltaBLOOMBERG - 353 words
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502 2014-12-15 21 REUTERS London GLOBAL conglomerate Libra is snapping up container ships, betting on a sector recovery and lower oil prices which will cut costs and boost profitability, the group’s chief executive said. Libra has proved adept at buying and selling assetsREUTERS - 502 words
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Article1715 2014-12-15 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) SIN PKL KUC KK JKT SUR CALMY CORAL 84 60 20/12 22/12 25/12 SEA CORAL 65 60 6/1 8/1 12/1 15/1 MALAYSIA1,715 words
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Page 22 Advertisements
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Advertisement299 2014-12-15 22 C a ila n E n n o r e J e d d a h B r is b a Shanghai Chittagong n e Ho Chi Minh H o n g K o n g J e b e NYK RORO (ASIA) PTE. LTD. REGULAR SERVICE TO Persian Gulf,299 words
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DINING OUT
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Article, Illustration1019 2014-12-15 23 JAIME EE - Two old Chinese eateries hold court in modern, bustling malls. BY JAIME EE jaime@sph.com.sg @JaimeEeBT NEW RESTAURANTS Jing Hua Xiao Chi #B1-04/05 Palais Renaissance 390 Orchard Road Tel: 6733-8231 Open for lunch and dinner Mon to Fri: 11.30am to 3.30pm; 5.30pm to 10pm. Open allPHOTOS: JAIME EE - 1,019 words
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Page 23 Advertisements
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Advertisement160 2014-12-15 23 SHOP THE NEW LUXURY BTLuxe Christmas 2014. In print and on your iPad. Luxury’s new guard the names you need to know Noma’s Rene Redzepi takes Tokyo Heston Blumenthal goes bionic Shigeru Ban Paper hero Tetsuya Wakuda’s Kyoto tour Digital exclusives only in the BTLuxe iPad app The Great Safari160 words
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LIFE & CULTURE
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Article, Illustration581 2014-12-15 24 Mindy Tan - Christmas a time for giving Charities were active in the past week as Christmas nears TAKING HEART By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Soft toy donations wanted from Food From The Heart ORIGINAL stories were spun for children from Food From The Heart by local authors such as Adeline Foo, who581 words
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805 2014-12-15 24 XINHUA Rome ITALIAN family businesses proved to be more resilient to the economic crisis than other types of companies, especially when they undertook internationalisation processes, a recent study showed. Family firms are considered a pillar of Italian economy and,XINHUA - 805 words
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Page 24 Advertisements
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Advertisement65 2014-12-15 24 MAKE YOUR CHRISTM S GIFT LAST ALL YEAR LONG FROM ONLY $1.50 PER ISSUE! A GIFT FOR YOUR LOVED ONE OUR GIFT TO YOU 30% savings for 1-year print subscription 60% savings for 1-year digital subscription FREE 3-month digital subscription of your favourite magazine or HWM Subscribe at www.sphmagazines.com.sg/ xmaspromo201465 words
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Page 24 Miscellaneous
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Miscellaneous309 2014-12-15 24 CRYPTIC CROSSWORD Across 1 Animal with a head for heights (7) 5 With air-conditioning being installed, wise to find peace and quiet? (7) 9 New car is on account, but capital is required (5) 10 Alice pops out of the church (9) 11 One bound to learn his craft (10)309 words
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