The Business Times, 10 January 2015

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Microfilm: NL33339
Total Pages: 41
1 32 The Business Times
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      58 1 LivingBTTHE BUSINESS TIMES WEEKEND JANUARY 10 11 2015 DESIGN Spruce up your abode L5-7 A HEALTHIER SPREAD Healthy eating can be enjoyable too L2-4 TRAVEL Palace on a cliff L12 MOTORING Good green fun L14 HEALTH Getting off to a good start L13 WELLNESS Yummy skincare L8-9 PHOTO: AEIOU CAFE
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  • BT LIVING
    • DINING
      • Article, Illustration
        Lock icon A healthier spread
        2613 2 / 3  -  Hands up, those of you who have made a resolution to eat healthier this year. But how fun can it be to be munching on rabbit food all day? BT Weekend meets a group of people who show that healthy eating can be enjoyable. By Tay Suan
        PHOTOS: TAY SUAN CHIANG; PHOTOS: AEIOU CAFE; PHOTOS: OWN MY GRAIN; PHOTOS: WE ARE SINGAVORE  -  2,613 words
    • DESIGN
      • Article, Illustration
        Lock icon Spruce up your abode
        887 5  -  How should you be doing up your home this year? Home furnishing experts give their take on what will be hot in 2015. By Tay Suan Chiang taysc@sph.com.sg @TaySuanChiangBT “Modular sofas continue to be hot. We launched a new collection where customers can have the sofa,
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      • Article
        Lock icon wine&dine
        753 6 / 7 with BTWeekend Marina Mandarin Singapore 6 Raffles Boulevard 2015 Reunion With A Gait and a Bang Usher in the bountiful Year of the Goat with gait and panache. Host your Chinese New Year banquet in style at Marina Mandarin’s Private event space this Spring for your business associates, friends
        753 words
    • WELLNESS
      • Article, Illustration
        Lock icon Yummy skincare
        1868 8 / 9  -  Hand-made from milk, fruits, herbs and even teas, delicious-sounding products to pamper your skin are being churned out by homegrown beauty entrepreneurs. By May Yip By May Yip FIRST came home-made cupcakes, followed by spreads, granolas and nougats. The next trending products concocted in the kitchens of homegrown
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    • STYLE
      • Article, Illustration
        Lock icon Embracing the mature
        1398 10 / 11  -  In today’s fashion world, the young are so well, old hat. Or so it seems as beauty- and fashion-ad campaigns increasingly feature ‘older’ women. By Vanessa Friedman NYT FOR the last three years at about this time which is to say, in the nascent days of the
        NYT  -  1,398 words
    • TRAVEL
      • Article, Illustration
        Lock icon Palace on a cliff
        1029 12  -  Reid’s Palace Hotel on the Portuguese island of Madeira has much in common with Singapore’s Raffles Hotel history, character and style. By Neil Behrmann btworld@sph.com.sg FOR those who enjoy the old world elegance of Singapore’s Raffles Hotel, you’ll feel right at home in Portugal’s Belmond Reid’s
        1,029 words
    • HEALTH
      • Article, Illustration
        Lock icon Getting off to a good start
        1621 13  -  Begin the year by checking if you are at risk as early detection can prevent heart attacks, stroke, memory loss Michael Lim ~Dr Lim is the medical director at the Singapore Heart, Stroke Cancer Centre. He is also editor-in-chief, Heart Asia, a journal of
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    • MOTORING
      • Article, Illustration
        Lock icon Good green fun
        722 14  -  The Maserati Ghibli Diesel is the Italian luxury brand’s first diesel-engined car. By Samuel Ee samuelee@sph.com.sg TO some, the Maserati Ghibli Diesel may be just another Ghibli with an alternative engine but this turbodiesel version of Maserati’s baby sedan is actually special for two reasons. Until now,
        722 words
      • Article, Illustration
        Lock icon A1 ALFA
        657 15  -  The Alfa Romeo 4C has striking styling and kart-like handling. By Samuel Ee By Samuel Ee samuelee@sph.com.sg I T is small, it is lightweight and rear-wheel-driven, and it looks sensational. But the Alfa Romeo 4C is not a luxurious mid-engined two-seater like the Porsche Cayman. It is more
        657 words
    • GOLF
      • Article, Illustration
        Lock icon 7 events to look out for in 2015
        904 16  -  BT highlights some upcoming local, regional and global events to sate the aficionado’s golfing appetite. By Justine Moss IT’S the start of a brand new golf calendar year and many professional tours have already released their tournament schedules for 2015. The Business
        PHOTOS: HSBC GETTY IMAGES, ASIAN TOUR  -  904 words
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  • Title Section
    Lock icon Masthead
    19 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g JANUARY 10-11, 2015 S$1.00 MCI (P) 052/08/2014 A SINGAPORE PRESS HOLDINGS PUBLICATION
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  • Article
    Lock icon Best year for jobs since 1999
    40 1 US ECONOMY EMPLOYMENT in the US rose more than forecast in December and the jobless rate fell to 5.6 per cent, wrapping up the best year for the labour market in 15 years. 2
    40 words
  • Article
    Lock icon Twin hostage dramas grip France
    43 1 PARIS ATTACK FRANCE grappled with two hostage dramas on Friday after a gunman killed two people and seized five at a supermarket in Paris, as police cornered the brothers suspected of carrying out the Charlie Hebdo massacre. 4
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  • Article
    Lock icon Pings detected in black box hunt
    28 1 AIRASIA CRASH SIGNALS believed to be from the black box data recorders of crashed AirAsia Flight 8501 were detected on Friday. 7
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  • Article
    Lock icon Li Ka-shing reorganises empire
    35 1 NEW HOLDING COMPANY CHEUNG Kong Holdings has offered US$24 billion in stock to buy out unit Hutchison Whampoa and will spin off its property assets in the group’s biggest revamp. 14
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  • Article
    Lock icon Developers await Lippo verdict
    34 1 PROPERTY THE lawsuit filed by UOB against a Lippo Group subsidiary and seven individuals has intrigued industry players as to how some prices could have been inflated so much. 15
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  • Article
    Lock icon One-stop shop to help startups break into China
    719 1  -  VentureCraft has corralled some of China’s big-name founders and investors as mentors By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore INGAPORE startups contemplating a foray into China now have what is believed to be a first-of-a-kind opportunity to hobnob with, and learn from, some
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  • Article, Illustration
    Lock icon Sri Lanka’s strongman president voted out after a decade in power
    800 1 Reuters Colombo SRI Lankan President Mahinda Rajapaksa lost his bid for a third term on Friday, ending a decade of rule that critics say had become increasingly authoritarian and marred by nepotism and corruption. Opposition candidate Maithripala Sirisena, a
    Reuters; PHOTO: REUTERS; PHOTOS: REUTERS  -  800 words
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  • TOP STORIES
    • Article, Illustration
      Lock icon Dec employment gain caps best year since 1999
      523 2 Consumer spending may now be sustained LATEST US DATA Bloomberg Washington EMPLOYMENT rose more than forecast in December and the jobless rate declined to 5.6 per cent, wrapping up the best year for the labour market since 1999 and adding to evidence
      Bloomberg; PHOTO: BLOOMBERG  -  523 words
    • MARKETS
      • Article
        Lock icon FOREX
        49 2 US$ S$ US$ (S$ per US$) 1.338 (US$/S$ per 1.510 2.020 EURO (US$/S$/€ 1.179 1.578 Foreign currency per US$ S$ YEN 119.40 89.20 RM 3.563 2.663 HK$ 7.755 5.796 BAHT 32.90 24.59 RUPIAH 12,653 9,457 RENMINBI 6.209 4.641 INDIAN RUPEE 62.39 46.63 A$ 1.231 0.920 NZ$ 1.278 0.955
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      • Article
        Lock icon STOCKS
        58 2 HSTI 3,338.44 (-6.67) HSTI FUTURES 3,338.00 (-7.00) HSIMSCI 374.46 (-2.55) HSIMSCI FUTURES 374.80 (-3.90) Friday Change KL COMP 1,732.44 +4.38 NIKKEI 225 17,197.73 +30.63 HANG SENG 23,919.95 +84.42 SET 1,529.42 +7.80 JAKARTA 5,216.67 +4.84 MANILA 7,402.72 +35.09 KOSPI 1,924.70 +20.05 SHENZHEN B 1,068.89 +6.58 MUMBAI IND 27,458.38 +183.67 11am
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.35 MALAYSIA 6.85 HONG KONG 5.00 INDONESIA 14.694 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.50 INDIA 14.75 Source: Bloomberg
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    • Article
      Lock icon Sri Lanka gambles on change
      392 3  -  REUTERS BREAKINCVIEWS COMMENTARY By Andy Mukherjee Singapore RI Lanka’s president can boast a sterling economic record. But that wasn’t enough to help him keep his job. Mahinda Rajapaksa’s bid to extend his decade-long reign over the island state came to an abrupt end when he
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    • Article, Illustration
      Lock icon Twin hostage dramas grip France
      588 4 Gunman kill 2, seize five others at Jewish supermarket; police corner brothers PARIS ATTACK| AFP Paris FRANCE grappled with two hostage dramas on Friday after a gunman killed two people and seized five others at a Jewish supermarket in eastern Paris, as police cornered the
      AFP; PHOTO: AFP  -  588 words
    • Article
      Lock icon Wish for world peace no longer a cliche
      651 4  -  SATURDAY SOAPBOX By Vivien Ang vivang@sph.com.sg REMEMBERthosed a y s w h e n w e would snigger at Miss Universe cont es t an t s w h o wished for “world peace” with their beaming smiles, thinking that it was
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    • Article
      Lock icon ‘Dicey for Japan not to have a QE exit plan’
      746 5  -  Ex-BOJ official warns of hyperinflation, big dive in the yen if bond-buying continues By Anthony Rowley btworld@sph.com.sg Tokyo JAPAN could be heading at least part of the way down the same disastrous path it trod in the 1930s, when currency
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    • Article, Illustration
      Lock icon Word of caution on M’sian property from SCCI-BT forum
      672 5  -  High supply, low occupancy rates are factors for investors to ponder over By Fiona Lam fionalam@sph.com.sg Singapore INVESTORS should think twice before investing in Malaysia's property market this year, given the impending abundant supply of units and lacklustre occupancy rates there.
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    • Article, Illustration
      Lock icon Healthy-living wearables steal the show
      972 6 Devices on display include those that measure brain activity for reducing stress CONSUMER TECH AFP Las Vegas FROM bracelets that measure body fat to robots that coach children through chemotherapy, the Consumer Electronics Show (CES) brimmed with gadgets promising prescriptions for healthier lives. Innovations on
      AFP; PHOTO: AFP  -  972 words
    • Article, Illustration
      Lock icon Pings detected in hunt for black boxes
      525 7 But another day of rough seas foils divers’ efforts to track down the black boxes, or to retrieve the plane’s tail AIRASIA CRASH AFP Pangkalan Bun, Indonesia SIGNALS believed to be from the black box data recorders of crashed AirAsia Flight 8501 were
      AFP; PHOTO: AFP  -  525 words
    • Article
      Lock icon No room for space balloon flight launches in S’pore
      691 7  -  CAAS points to safety concerns, even as local firm IN.Genius prepares to launch its maiden flight out of Australia By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore SPACE balloon flights cannot be launched from Singapore owing to safety and operational concerns, the Civil
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      53 2 CONTENTS LIVING Dining L2-4 NEWS Top Stories 2-7 Raffles Conversation 8-9 Companies Markets 10-14 Real Estate 15-17 Banking Finance 18 Energy Commodities 19 Technology 20 Consumer 21 Transport 22 Govt Economy 23-25 Opinion 26-27 Wealth 28-30 Life Culture 31 Design L5-7 Wellness L8-9 Style L10-11 Travel L12 Health L13 Motoring
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      78 3 A STRATEGY for RETAIL SUCCESS At 200 Turf Club Road (formally Turf City), the newest and biggest family lifestyle destination in the Bukit Timah district is getting ready to transform how we live, play and unwind giving new meaning to getting out of town and in to life! Connect with
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      254 7 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND WINMALL LIMITED Company No: *****1942K At an Extraordinary General Meeting of WINMALL LIMITED held on Wednesday, 31 December 2014, the following Special Resolution was passed:SPECIAL RESOLUTION –WINDING-UP AND APPOINTMENT OF LIQUIDATOR That WINMALL LIMITED be wound up voluntarily pursuant to
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Empowering the young
      2929 8 / 9  -  Sir Terence Matthews, who has started more than 100 companies in his career, is helping the next generation build businesses and a future. By Amit Roy Choudhury By Amit Roy Choudhury amit@sph.com. sg @AmitRoyCBT WHEN Terry Matthews sits down in the exalted company of people who own
      PHOTO: ARTHUR LEE  -  2,929 words
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Frasers Hospitality boosts China presence
      397 10  -  Addition of 10 serviced residences in second-tier cities and two in first-tier Shanghai and Shenzhen By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore FRASERS Hospitality, the hospitality arm of mainboard-listed Frasers Centrepoint Limited (FCL), is expanding in China, with the addition of 10 serviced residences in the
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    • Article
      Lock icon One-time gain lifts Ezra’s Q1 profit; unit secures A$130m contract
      475 10  -  By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore OFFSHORE oil gas services provider Ezra Holdings has reported a net profit of US$54.4 million for the first quarter ended Nov 30, 2014 (Q1 FY2015), against US$6.35 million a year ago. Bolstering the
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    • Article
      Lock icon Way paved for SPH to expand reach to region’s online classifieds market
      348 10  -  By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT @ChanYiWenBT Singapore SINGAPORE Press Holdings (SPH) has completed joint-ven-ture transactions that will expand its reach to South-east Asia’s online classifieds market, as the region’s e-commerce booms. SPH, through its associated company 701Search,
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    • Article, Illustration
      Lock icon STI ends the first week on sombre note
      794 11  -  STOCKS Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Senior Correspondent THE key Straits Times Index lost its grip on the upward click it had begun the day with and led a steady descent from the second half of the trading session, ending Friday marginally lower
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    • Article
      Lock icon Bumitama Agri may gain 21b rupiah from land compensation
      269 11  -  By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT Singapore BUMITAMA Agri could potentially be compensated 400 billion rupiah (S$42 million) for 4,810 hectares of plantation land assets in Indonesia, to net a gain of 21 billion rupiah. Back in 2012, the company was
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    • Article
      Lock icon Emerging market stocks headed for longest weekly rally in four months
      428 11 Bloomberg Hanoi EMERGING market stocks headed for the longest weekly gain in four months and currencies strengthened after a second Federal Reserve official cautioned against raising interest rates this year. China Merchants Bank led Chinese financial stocks higher on
      Bloomberg  -  428 words
    • Article
      Lock icon STI STOCKS
      304 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 243 +3 245/240 250 206 5.9 6143.9 CapitaLand 323 -4 330/322 348 268 16.2 2.5 *****.4 CapitaMall Trust 206 +3 206/203 209 180 5 7144.7 CityDev 1025 -7 1036/1013 1118 860 13.9
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    • Article
      Lock icon SGX ETFs Most Active
      109 12 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap UETF SSE50China 230 +4 328 238/225 238/140 229/230 71.9 IS MS India US$ US744 +14 183 746/736 790/541 740/744 93 DBXT MSPHILS US$ US212.3 +6.2 88 212.3/210.7 214/163.5 212.3/213 17 STI ETF 337 -2 82 341/337
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    • Article
      Lock icon SIBOR
      31 12 Jan 9 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) (SS) 1 mth 0.***** Source: Thomson Reuters
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      780 12 For week beginning Jan 5 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) A-Sonic Aerospace 08-Jan-15 Irene Tay Gek Lim Buy 40 0.07 4019 0.56 4059 0.57 A-Sonic Aerospace 07-Jan-15
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 12 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 2 7 2 0 0 0 2 7 2 Manufacturing 34 45 45 5 9 7 39 54 52 Commerce 19 11 24 4 5 6 23 16 30 Tpt/Stor/Comms 18 13 8
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 12 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 31,947 31,947 94,667 94,667 Manufacturing 255,777 43,268 299,045 136,054 3,381 139,436 Commerce 58,676 20,779 79,455 99,295 1,925 101,220 Tpt/Stor/Comms 145,337 3,295 148,632 195,572 1,317 196,890 Finance 34,173 33 34,206 298,918 7 298,925 Construction 22,659 22,971
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 12 Jan 9 VALUE CLOSE BT OB/OS 158.00 -108.00 BT CADI -*****.00 -5.00 BT 10-day MA -*****.00 +16.00 FTSE ST Mid Cap 758.42 +0.98 FTSE ST Small Cap 502.63 +0.64 FTSE ST All Share 802.89 -1.01 FTSE ST China Top 194.79 +0.69 FTSE ST China 231.23 +1.64 FTSE
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    • Article
      Lock icon UNUSUAL ACTIVITY
      84 12 VOL CLOSE($) CHANGE ACH ADR US$ 0.4 12.920 +2.070 +19.08 Jasper Inv 28,246.0 0.010 +0.002 +25.00 VibroPower 2,103.0 0.050 -0.007 -12.28 Yongmao 50.0 0.135 +0.020 +17.39 Starland 10,972.0 0.036 +0.001 +2.86 S i2i 10,380.0 0.006 +0.001 +20.00 ChasWood Res 167.0 0.125 +0.005 +4.17 Lizhong Wheel 10.0 0.197 -0.028
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    • Article
      Lock icon COMMODITY FUTURES
      193 13 Jan-8 Price Net change change Last Trade Agricultural Jan-8 CBOT Soybeans (US cents/bu) 1045.00 -7.75 -0.74% 14/01/2015 CBOT Soybean Oil (US cents/lb) 33.58 0.60 1.82% 14/01/2015 CBOT Wheat (US cents/bu) 567.00 -12.50 -2.16% 13/03/2014 Jan-8 LIFFE Cocoa (£/tonne) 2046.00 30.00 1.49% 16/03/2015 LIFFE Coffee (US$/tonne) 1935.00 -26.00 -1.33%
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    • Article
      Lock icon PALM OIL
      53 13 Jan 9 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 15 2359.0 308 Feb 15 2394.0 2358.0 2395.0 2347.0 3638 ***** Mar 15 2372.0 2348.0 2383.0 2341.0 ***** ***** Apr 15 2345.0 2326.0 2356.0 2320.0 5898 *****
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    • Article
      Lock icon GOVERNMENT SECURITIES
      67 13 Jan 9 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105.06 5-Year N*****0H 1.625 01-Oct-19 100.57 100.60 100.50 10-Year NY*****H 3.000 01-Sep-24 107.42 107.42 107.10 15-Year NY*****E 2.875 01-Jul-29 105.3 105.40 105.00 20-Year NZ*****V 3.375 01-Sep-33 111.92 112.15 111.65
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 13 Jan 9 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0863 1.0873 0.8120 0.8126 Canadian dollar 1.1299 1.1304 0.8449 0.8446 Euro 1.5777 1.5783 1.1793 1.1796 NZ dollar 1.0467 1.0471 0.7824 0.7826 Sterling pound 2.0195 2.0204 1.5096 1.5100
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    • Article
      Lock icon BONDS, WARRANTS, PREFERENCE SHARES
      206 13 Jan 9 Most active Prem Expiry Last Vol Conv Exer Disc Gear-Mths Company Sale +or-('000) Ratio Price ing Left KepCorp MB eCW*****2 8.4 -0.8 9502 0.2 900 5 Innopac Holdings W*****0 0.2 0.1 8104 1 1 34 DBS MB eCW*****2 11 -0.1 7986 0.1 0 5
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT’L INDICES
      373 13 In local curr In S$ In US$ dy yr dy yr dy yr Jan 8 Index Change Change Change Change Change Change World Preliminary 1272.5 1.8 -0.3 1.6 0.0 1.8 -1.0 EAFE Preliminary 982.4 2.2 -0.5 2.0 -1.3 2.2 -2.3 Europe Preliminary 1383.9 2.7 0.2
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    • Article, Illustration
      Lock icon STOCK MARKETS
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    • Article, Illustration
      Lock icon SIA’s Indian JV finally takes flight
      485 14  -  Premium carrier Vistara, backed by Tata, operates inaugural flight from Delhi to Mumbai By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore AFTER two decades of trying to break into the Indian market, Singapore Airlines’ (SIA) joint venture Vistara took to the skies on Friday with its
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    • Article
      Lock icon Hot demand for China Huarong’s US$3.2b bonds
      322 14  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore STATE-owned China Huarong’s US$3.2 billion issue has sold well, indicating that demand from bond investors remains solid despite volatile markets. Singapore-based investors were among those who clamoured for the bonds which received orders reaching US$15.5 billion,
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    • Article
      Lock icon Cheung Kong to buy out Hutchison in US$24b reorganisation
      339 14 Bloomberg Hong Kong CHEUNG Kong Holdings has offered US$24 billion in stock to buy out unit Hutchison Whampoa and will spin off its property assets in the biggest reorganisation of Hong Kong billionaire Li Ka-shing’s corporate empire. Cheung Kong investors will
      Bloomberg  -  339 words
    • Business briefing
      • Article
        Lock icon Cosco Corp issues profit warning for FY2014
        79 14 COSCO Corporation has warned that its earnings for the year ended Dec 31, 2014, will be significantly lower than those for the year ended Dec 31, 2013, due to the steep fall in crude oil prices over recent months. The oil rout has
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      • Article
        Lock icon CSC unit gets arbitration award of S$36.1m
        101 14 CSC Holdings said on Friday that its wholly owned subsidiary, L&M Foundation Specialist (LMFS), has been awarded S$36.1 million the result of arbitration proceedings that it started against a third party in 2009. LMFS’s accounting records reflect S$39.3 million as the net contract
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      • Article
        Lock icon CFM Holdings buys IPL for S$2m
        104 14 CFM Holdings, which manufactures metal-stamped parts, is buying IPL, a clean-room medical disposables and wearables supplier, for S$2 million in cash. The company entered into a sale-and-purchase agreement with Neo Chwee Hum and Neo Chew Pieng on Friday to acquire the entire issued and
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  • REAL ESTATE
    • Article, Illustration
      Lock icon UOB lawsuit unlikely to impact developers
      779 15  -  Market watchers believe it will be difficult to find out if the price of a unit sold has been inflated By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore THE lawsuit filed by United Overseas Bank (UOB) against a Lippo Group subsidiary and seven other individuals has
      FILE PHOTO  -  779 words
    • Article, Illustration
      Lock icon S’pore, HK impose highest property tax on foreigners
      549 15  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore WHEN investors buy an overseas property, they look not just at total returns but also at liabilities especially taxes on acquisition, holding, and exiting. A Knight Frank analysis report released on Friday has found that the
      Source: Knight Frank Research  -  549 words
    • Article, Illustration
      Lock icon Aussie tax rules egging property speculators on
      828 16 People buy properties to rent out, even at a loss, but claim tax relief. Debt and prices rise Bloomberg Sydney AUSTRALIAN real estate investor Maureen Pound said losing money on three rental apartments she owns in Melbourne and Brisbane doesn’t faze her. She’s
      Bloomberg; PHOTO: BLOOMBERG  -  828 words
    • Article
      Lock icon Canada, NZ homes most expensive: Deutsche Bank
      336 16 Bloomberg London CANADA, New Zealand, Belgium and Australia are in the top ranks of the developed world’s most overpriced housing markets, according to Deutsche Bank AG. Homes in Canada are the most expensive, being 63 per cent overvalued, the bank said in a
      Bloomberg  -  336 words
    • Article
      Lock icon Househunt
      1038 17 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN NOV 26 AND DEC 2, 2014 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 26/11/2014 99 700 1605 2293 District 3 NON-LANDED Commonwealth Twr
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  • BANKING & FINANCE
    • Article
      Lock icon Indonesia sells US$4b debt amid low yields
      472 18 Average yield on sovereign dollar bonds was 4.75% on Dec 4, lowest level since June 2013 Bloomberg Jakarta INDONESIA sold US$4 billion of 10- and 30-year dollar bonds, taking advantage of borrowing costs near a 19-month low to raise funds. The 2025 debt
      Bloomberg  -  472 words
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      Lock icon Report reveals ‘turf battles’ in NY Fed’s supervision of JPMorgan Chase
      503 18 Bloomberg Washington THE Federal Reserve Bank of New York’s overseeing of the JPMorgan Chase Co office responsible for the US$6.2 billion trading loss attributed to the so-called London Whale was marked by “turf battles” and a tense relationship with
      Bloomberg; PHOTO: AFP  -  503 words
    • Article
      Lock icon Splitting banks should be last resort: EU lawmaker
      517 18 Bloomberg Brussels SPLITTING consumer and trading activities at the European Union’s biggest banks should be a supervisor’s last resort after other crisis management tools fail, a key member of the bloc’s legislature said. Gunnar Hoekmark, a Swede who is leading the European
      Bloomberg  -  517 words
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  • ENERGY & COMMODITIES
    • Article
      Lock icon Energy firms find loans come at steep price
      513 19 Moody’s said current unsecured bondholders may find their claims subordinated to new creditors Bloomberg New York ENERGY companies that were all but shut out of debt markets by a 55 per cent drop in oil prices are starting to find investors willing
      Bloomberg  -  513 words
    • Article, Illustration
      Lock icon Viet coffee farmers curb sales as output slumps
      519 19 Bloomberg Hanoi COFFEE farmers in Vietnam, the world’s top supplier of the robusta variety used by Nestle SA, are curbing sales to secure higher prices, aided by cheaper credit which increases their ability to store beans. Output in the year from Oct
      Bloomberg; PHOTO: BLOOMBERG  -  519 words
    • Article
      Lock icon Opec bets on faster cutbacks by US shale drillers – and is winning
      523 19 Opec bets on faster cutbacks by US shale drillers and is winning Bloomberg London IF there ever was doubt about the strategy of the Organization of the Petroleum Exporting Countries (Opec), its wealthiest members are putting that issue to rest. Representatives of Saudi Arabia, the United Arab Emirates and Kuwait
      Bloomberg  -  523 words
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  • TECHNOLOGY
    • Article
      Lock icon Cyberattack costs to be fully covered by insurance: Sony
      331 20 It says the costs, which some experts put at US$100m, won’t lead to further cost-cutting Reuters Los Angeles SONY Pictures Entertainment chief executive Michael Lynton has said the costs from the devastating cyberattack on the Hollywood studio will be completely covered
      Reuters  -  331 words
    • Article, Illustration
      Lock icon Media firms put cap on online TV content
      605 20 Talks over digital rights taking longer and getting tougher Reuters Las Vegas MEDIA companies that are starting to allow their programmes on Internet-delivered TV and mobile devices are putting limits on digital rights as a safety hatch if problems arise with the
      Reuters; PHOTO: REUTERS  -  605 words
    • Article
      Lock icon Co-working space in San Francisco for Singapore startups
      289 20  -  By Joyce Hooi joyceh@sph.com.sg @JoyceHooiBT Singapore SINGAPORE tech firms will now be able to go West for the Silicon Valley gold rush with the help of a co-working space called Block 71 San Francisco. This space, located in the South of Market
      289 words
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  • CONSUMER
    • Article
      Lock icon McDonald’s confirms filling in hamburger
      384 21 Japanese woman finds ‘dental material’ in food bought from outlet in Kushiro city AFP Tokyo A JAPANESE woman got more than a mouthful when she discovered fragments later identified as “dental material” in a McDonald’s hamburger, marking the fast-food chain’s latest food-quality embarrassment. The news,
      AFP  -  384 words
    • Article
      Lock icon Coca-Cola to axe about 1,800 jobs globally
      381 21 Net income fell 14% to US$2.1 billion in quarter ended Sep 30 NYT New York COCA-COLA said it was cutting 1,600 to 1,800 jobs globally as part of US$3 billion in costs it hopes to pare over the next several years. “We have
      NYT  -  381 words
    • Article, Illustration
      Lock icon Macy’s to close 14 stores, focus on online biz
      324 21 AFP New York US department store giant Macy’s said it would shut 14 stores, cutting more than 1,300 jobs, in a restructuring to boost its focus on the boom in online shopping. The affected stores, a small fraction of the company’s
      AFP; PHOTO: AFP  -  324 words
    • Article
      Lock icon MasterCard unit accuses Nike of poaching cyber-security personnel
      246 21 Bloomberg New York Nike Inc was accused by a MasterCard Inc unit of conspiring to steal scarce technology talent by encouraging two top cybersecurity managers to break their contracts with the credit card company as worries of hacking and breaches of customer
      Bloomberg  -  246 words
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  • TRANSPORT
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon ECB officials study 500b euro QE options
      579 23 Such a purchase programme would take the ECB halfway towards its goal of boosting its balance sheet Bloomberg Frankfurt EUROPEAN Central Bank staff presented policymakers with models for buying as much as 500 billion euros (S$788 billion) of investment-grade assets, according to a
      Bloomberg; PHOTO: REUTERS  -  579 words
    • Article
      Lock icon Tokyo approves 3.1t yen extra budget to fund stimulus spending in Japan
      379 23 Reuters Tokyo THE Japanese government on Friday approved a 3.118 trillion (S$34.9 billion) extra budget for the current fiscal year to fund stimulus spending and help pull the economy out of recession. The extra budget for the stimulus,
      Reuters  -  379 words
    • Article, Illustration
      Lock icon Singapore to take part in Gujarat investor summit
      465 24  -  Two business delegations from the Republic will be at India’s largest such meeting; Singapore pavilion to showcase 20 firms By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore FOR the first time, Singapore will be taking part as a partner country at a global investor
      FILE PHOTO  -  465 words
    • Article
      Lock icon HK lawmaker says he’ll quit to trigger by-election
      419 24 AFP Hong Kong A VETERAN pro-democracy Hong Kong lawmaker has pledged to resign from the territory’s legislature, triggering a by-election to allow residents to “vent their anger” at Chinese authorities over proposals on how the city chooses its next leader. The issue
      AFP  -  419 words
    • Article, Illustration
      Lock icon Inflation data points to China stimulus
      721 25 Easing inflationary pressure gives central bank more room to experiment with financial liberalisation NYT Hong Kong CHINA is increasingly likely to take new action to bolster growth, economists said, after figures released on Friday showed that inflation in the country remains near its lowest
      NYT; PHOTO: REUTERS  -  721 words
    • Article
      Lock icon German economy stutters as production and exports falter
      375 25 Reuters Berlin GERMAN exports fell sharply in November and industrial output also declined, suggesting that Europe’s largest economy ended 2014 on a weak note. Seasonally adjusted exports dropped for a second consecutive month, dipping 2.1 per cent, while imports pushed up 1.5
      Reuters  -  375 words
    • Article
      Lock icon Minneapolis Fed president urges no US rate increases this year
      336 25 Reuters London THE Federal Reserve should leave short-term borrowing costs near zero for a seventh year in a row, a top Fed official says, citing sliding US inflation and still-high unemployment. The Fed “can best achieve its macroeconomic objectives by
      Reuters  -  336 words
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      Lock icon Page 23 Advertisements Column 1
      57 23 HOT PROPERTY VALLEY PK 3+1 1550sqft Low flr, Best Premium unit Full Pool view! Amenities! $2.5M THE ELEMENT Stevens 2rm PH 1658sf. A1 location Future MRT. 88 STEVEN RD #03-, 5+1, 2863 sqft, F'hold, Next to Steven MRT, SCGS. Auction 21/1. APARTMENTS IN PRIME LOCATION! Check this and many other
      57 words
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  • OPINION
    • Article, Illustration
      Lock icon Misgivings about corporate giving
      1109 26 / 27  -  Instead of spending efforts to decipher motivations behind corporate philanthropy, we should focus on its outcomes for recipients and society. By Arthur Gautier By Arthur Gautier ~The writer is executive director of the ESSEC chair in philanthropy and research fellow at ESSEC Business School WHENcompa-niesprovidecashand sistance
      FILE PHOTO  -  1,109 words
    • Article
      Lock icon Don’t give Charlie Hebdo gunmen what they want
      935 26 / 27  -  By Stephen Carter Bloomberg View A DECADE or so ago, in his book Terror and Liberalism, the social critic Paul Berman derided the West for repeatedly making the conceptual error of refusing to understand “that, from time to time, mass political movements
      Bloomberg View  -  935 words
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  • Wealth
    • WEALTH INSIGHTS
      • Article, Illustration
        Lock icon Plunging oil prices: Why and what it means
        1290 28 / 29  -  As the world finds more cost-efficient alternatives to fossil fuels, the free fall in the price of oil augurs well for the global economy by boosting growth By Dr Shane Oliver btworld@sph.com.sg The writer is head of investment strategy and chief economist,
        PHOTO: BLOOMBERG; Source: Bloomberg, AMP Capital  -  1,290 words
      • BROKERS’ TAKE
        • Article
          Lock icon Vard Holdings
          105 28 / 29 Sell DMG Partners Research Jan 9 Jan 9 close: S$0.61 Target price: S$0.51 THOUGH it has fallen 42 per cent in six months, we think that Vard’s valuations today are still high, trading at 11x FY15 forecast PE (price-to-earnings) versus its closest peer Nam Cheong, at merely 4.3x.
          105 words
        • Article
          Lock icon Olam International
          210 28 / 29  -  By Kenneth Lim Neutral UBS Global Research Jan 8 Jan 9 close: S$2.01 Target price: S$2.10 THE ADM Cocoa deal is valued at an EV (enterprise value) of US$1.3 billion, representing 14.4x FY14 estimated EV/Ebitda (earnings before interest, tax, depreciation and amortisation) or 6.5-7.2x on a steady state
          210 words
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon China enforces tax law for citizens abroad
        1197 30 Citizens and companies must pay taxes on their entire worldwide incomes, not just on what they earn in China NYT Hong Kong AS Chinese individuals and companies head overseas in greater numbers, the country’s tax authorities are starting to follow. The Beijing billionaires
        NYT; PHOTO: BLOOMBERG  -  1,197 words
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon ‘Birdman’ flying high
      402 31 Dark comedy leads the pack as Hollywood gathers for Golden Globes this weekend AFP Los Angeles THE race to the Oscars begins in earnest on Sunday when Hollywood’s A-listers gather for the Golden Globes, with dark comedy Birdman leading the pack in the quest for awards glory.
      AFP; PHOTO: 20TH CENTURY FOX  -  402 words
    • Article, Illustration
      Lock icon ‘Oscars’ of photojournalism handed out
      351 31  -  By Rachel Loi rachloi@sph.com.sg @RachelLoiBT THE 57th annual World Press Photo exhibition officially opened at the Raffles Hotel Singapore on Friday night, showcasing 151 award-winning photographs from around the world. These photographs were selected from 98,671 images submitted by 5,754 photographers as part of the
      PHOTOS: WORLD PHOTO CONTEST, ARTHUR LEE  -  351 words
  • Page 31 Miscellaneous
    • Miscellaneous
      Lock icon Page 31 Miscellaneous Column 1
      292 31 CRYPTIC CROSSWORD Across 1 An A for apprenticeship (8) 6 Notice saying ‘Playground equipment’ (6) 9 Director’s backing me first to do relief work (6) 10 Eden is in the march past (8) 11 Clear course of action after study (8) 12 Observe nothing in being old and infirm (6)
      292 words
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      Lock icon Page 32 Advertisements Column 1
      132 32 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE JULES AUDEMARS CHRONOMETER HAS BEEN DESIGNED FROM FIRST PRINCIPLE TO SHOWCASE THE REVOLUTIONARY AUDEMARS PIGUET ESCAPEMENT. ACCURACY HAS ALWAYS BEEN THE FUNDAMENTAL QUEST OF WATCHMAKING TO REPRODUCE THE ABSOLUTE PRECISION OF NATURE IN A MECHANICAL MOVEMENT. IN PURSUIT OF THIS,
      132 words