The Business Times, 12 January 2015

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Total Pages: 28
1 28 The Business Times
  • 30 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G C ©BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 I Wednesday, October 8, 2014 Monday, January 12 5
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  • DAILY DIGEST
    • 42 1 signals a much wider and deeper malaise in the global economy that could see deflation spreading and bring destabilising swings in exchange rates and capital flows, says a report by the Institute of International Finance.TOP STORIES 2
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    • 63 1 have found the crucial black box flight recorder of the AirAsia plane that crashed a fortnight ago. But they failed to retrieve it immediately because it is stuck under debris from the main body of the plane, Indonesia’s transport ministry said. Divers will try on Monday to shift
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    • 30 1 has emerged as a leading player in the South-east Asian e-commerce market, having amassed US$238 million in investment funds since its founding in 2012. TOP STORIES/4
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    • 26 1 expected to take off in three years’ time, will enhance the Republic’s status as a regional arbitration hub. TOP STORIES 6
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    • 46 1 abound for Singapore companies in the Indian state of Gujarat, a visiting delegation from IE Singapore finds. The state’s strong connectivity and power infrastructure, coupled with its “strategic location” on the west coast of India, are some reasons to deepen business linkages.TOP STORIES 6
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    • 48 1 Cushman Wakefield the property consulting group, is on an expansion trail. By the time it celebrates the 20th anniversary of its Singapore business in 2017, it expects its headcount to exceed 200 from about 150 currently. In 2011, it had a staff strength of 65. COMPANIES MARKETS 7
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  • 25 1 Weekly Change STI 3,338.44 (-32.15) KL Comp 1,732.44 (-20.33) Nikkei 225 17,197.73 (-253.04) Hang Seng 23,919.95 (+62.13) Shenzhen B 1,068.89 (+40.08) Dow 17,737.37 (-95.62)
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  • 1161 1  -  Operations stall five months after firing up US$2.4b facility amid weak market By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore THE ambition of Jurong Aromatics Corporation (JAC) to be the “most admired aromatics company in the AsiaPacific” looks, for the near term at least, a distant
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  • 220 1 AFP Paris IN a show of overwhelming solidarity and support, world leaders from Europe and beyond joined hundreds of thousands of marchers in Paris to pay tribute to victims of last week’s terror attacks in France that killed 17 people. President
    AFP; PHOTO: REUTERS  -  220 words
  • Page 1 Advertisements
    • 100 1 8"*****1 *****4 LOOKING AHEAD How will Singapore’s economy fare in 2015? VIEWS FROM THE TOP/14-15 JAPANESE ATTRACTIONS Good intentions at Sushi Jin; good value at Koji Sushi Bar dining out 27 HIGHS AND LOWS Property transactions in 2014: the most and least expensive REAL ESTATE 13 DRAMA OR DRACHMA? Rough
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  • TOP STORIES
    • 973 2  -  Institute of International Finance also warns of spread of deflation and destabilising swings in exchange rates and capital flows from plunging crude prices By Anthony Rowley btworld@sph.com.sg Tokyo THE collapse in oil prices signals a much wider and deeper malaise in the global
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    • 596 2 AIRASIA CRASH AFP Pangkalan Bun, Indonesia INDONESIAN divers on Sunday found the crucial black box flight recorders of the AirAsia plane that crashed in the Java Sea a fortnight ago with 162 people aboard, the transport ministry said. But they
      AFP; PHOTO: REUTERS  -  596 words
    • 673 2  -  WALL STREET INSIGHT By Rob Curran btworld@sph.com.sg US stocks finished a volatile five sessions more or less flat for the week and the year after a puzzling jobs report, and observers expect more of the same in
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    • 728 2  -  By Chandrani Sarma TThe writer is research assistant at the Institute of South Asian Studies (ISAS), an autonomous research institute at the National University of Singapore. She can be contacted at isaschsa@nus.edu.sg. Opinions expressed in this paper, based on research by the author,
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    • Article, Illustration
      182 4 bt Explains JAC’s strategy of using condensate as a feedstock has become untenable as the condensate price rose while those of its products tumbled. Industry observers say JAC could switch to using the cheaper naphtha as a feedstock instead. Atypical chemical-linked condensate splitter BT Graphics: Chan Yi Wen, Ludwig
      BT Graphics: Chan Yi Wen, Ludwig Ilio Source: Argus Media  -  182 words
    • 552 4  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore Singapore ONLINE fashion marketplace Zalora, having amassed US$238 million in investment funds since its founding in 2012, looks set to be among the players leading the US$21.8-billion Southeast Asian e-commerce market to new heights. In the past
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    • 774 6  -  SICC boasts a panel of prominent international jurists and joins the successful arbitration sector in the Republic By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore WITH a panel of eminent international jurists and a successful arbitration sector in place here, the Singapore International Commercial
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    • 455 6  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THERE is a window of opportunity for Singapore companies to establish a first-mover advantage and deepen business linkages with the Indian state of Gujarat, said International Enterprise (IE) Singapore assistant chief executive officer Tan Soon Kim. The
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    • 289 6  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore FROM the start of April, the elderly in Singapore will have more flexibility in the use of their Medisave. Announced by Health Minister Gan Kim Yong on Sunday, a new scheme known as Flexi-Medisave
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  • Page 2 Advertisements
    • 14 2 Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices
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    • 190 3 V inn 120 140 100 160 POWER 80 180 I200 y 40 220 25 -c CHARGE 240 260 V i; M WDIO chtrack POW MODE MEDIA 3Z0NE ?S.O X DISP •OFF ■AUTO c'3.0 .«=s f 1C tVV "SSSu. > H V WHEN IT COMES TO FEATURES, MORE IS MORE. LEXUS
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  • Page 4 Advertisements
    • 245 4 n NANYANG JT TECHNOLOGICAL w UNIVERSITY RSiS Nanyang Technological University S. RAJARATNAM SCHOOL OF INTERNATIONAL STUDIES The S. Rajaratnam School of International Studies cordially invites you to two lectures by Professor Stephen Rosen S. Rajaratnam Professor of Strategic Studies, RSIS; Kaneb Professor of National Security and Military Affairs, Harvard University;
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  • Page 5 Advertisements
    • 398 5 Enjoy life’s finer moments Up to 20% off at Starwood Hotels and Resorts Singapore i i hi BvV. j r,' N ,A_ ri >5 If you love to indulge in the best life has to offer, you will relish our exceptional privileges for world-class dining experiences at Starwood Hotels and
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  • COMPANIES & MARKETS
    • 1359 7  - Cushman Wakefield on expansion path The property consulting group is upbeat about industrial collective sales and institutional buyers returning to the Singapore office market. BY KALPANA RASHIWALA TTTOPLINE market.BY KALPANA RASHIWALA kalpana@sph.com.sg @KalpanaBT PROPERTY consulting group Cushman Wakefield is on an expansion trail. By the time it marks the 20th
      PHOTO: ARTHUR LEE  -  1,359 words
    • 1684 8  -  Bulk of significant trades were purchases with buybacks in Hyflux, Raffles Education, Global Invacom and ST Engg INSIDE MARKETS By Robert Halili T The writer is managing director, Asia insider Ltd Buyers got off to a strong start in the New
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    • 954 8 Local shareholders would benefit from additional safeguards and disclosure practices to close the information gap. BY EUGENE KANG T The writer is a member of the Advocacy Research Committee of the Singapore Institute of Directors. ACCORDING to the 2014 Singapore Exchange (SGX) annual report,
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    • Article, Illustration
      64 9 STI Catalist WEEKLY Straits Times Index Jan 9,2015 3,338.44 -32.15 (-0.95%) Current streak 1 day Week high 3,345.11 Week low 3,281.95 52-week high 3,370.59 (Jan 2, 2015) 52-week low 3,013.15 (Feb 7, 2014) FTSE ST Catalist index Jan 9,2015 752.17 +2.22 (+0.30%) Current streak 1 day Week high 754.70 Week
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    • 304 9 Stock name Close Change Wk high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 243 +3 245/236 250 206 5.9 6143.9 CapitaLand 323 -7 330/322 348 268 16.2 2.5 *****.4 CapitaMall Trust 206 +2 208/201 209 180 5 7144.7 CityDev 1025 -5 1036/991 1118 860 13.9
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    • 635 9  -  STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THERE’S an old saying for markets that as goes January, so goes the year. We don’t know whether prices will be higher or lower at the end of the month but so far, if the saying proves accurate
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    • 76 9 BY CENTS CLOSE UP 52w high/low GLD US$ ***** 303.7 2.0 *****/***** DBXT MSKorea US$ 5674 123.1 1.6 6735/5484 HongkongLand USD 740 80.3 8.8 741/584 DBXT MSUSA US$ 5154 69.6 1.0 5242/4303 CMProp HKD 1600 69.0 33.3 1600/802 BY PERCENTAGE CLOSE UP 52w high/low Joyas W*****5 0.8 700.0 0.7
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    • 81 9 BY CENTS CLOSE DOWN 52w high/low SPDR DJIA US$ ***** -473.6 -2.0 *****/***** DBXT MSAsExJp US$ 3261 -381.3 -8.0 3808/2802 IS S&P500 US$ ***** -374.6 -1.4 *****/***** DBXT MSEurope US$ 5384 -361.2 -4.8 6492/5366 SPDR S&P500 US$ ***** -353.2 -1.3 *****/***** BY PERCENTAGE CLOSE DOWN 52w high/low SembMar MBeCW*****2
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    • 84 9 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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    • 35 9 VOLUME IHC 266,247,000 Blumont 213,596,000 JES Intl 185,266,000 Golden Agri-Res 169,032,000 Xpress 167,636,000 Market volume 8,328,234,000 VALUE DBS Grp 443,902,732 UOB 416,313,302 SingTel 404,026,476 Keppel Corp 297,418,645 OCBC Bank 290,408,953 Market value 5,662,542,000
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    • 110 9 Fund Last sale +/-(‘000) Wk high/low 52w high/low Buy/Sell Mcap UETF SSE50China 230 +10 1534 238/220 238/140 229/230 71.9 STI ETF 337 -4 685 341/332 343/298 337/339 IS MS India US$ US744 -1 455 746/711 790/541 740/744 93 DBXT CSI300 US$ US997 -14 284 1034/975 1034/613
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    • 111 9 COMPANY MEETING PLACE DATE TIME Halcyon Agri Corp E Malaysia Room DBS Bank Ltd 12 Marina Boulevard (Level 46) Marina Bay Financial Ctr Tower 3 12-Jan 10.00am Blue Sky Power E The Center, Hong Kong, (Video conf Level 30 S'pore Land Tower 50 Raffles Place) 13-Jan 11.00am OUE
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    • 77 9 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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    • 36 9 STI FTSE ST All-Share WEEKLY FTSE ST All-Share Index Jan 9,2015 802.89 -4.52 (-0.56%) Current streak 1 day Week high 803.90 Week low 790.14 52-week high 816.11 (July 25, 2014) 52-week low 733.83 (Feb 7, 2014)
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    • 34 9 STI MSCI EAFE WEEKLY MSCI EAFE index Jan 9,2015 1,729.52 -32.90 (-1.87%) Current streak 1 day Week high 1,733.84 Week low 1,697.01 52-week high 1,993.20 (July 4, 2014) 52-week low 1,729.52 (Jan 9, 2015)
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    • 186 9 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 8 2 0 0 0 7 8 2 Manufacturing 70 64 34 14 14 10 84 78 44 Commerce 25 29 21 8 5 6 33 34 27 Tpt/Stor/Comms 22 15 7
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    • 123 9 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 115,364 115,364 424,766 424,766 Manufacturing 1,704,877 220,195 1,925,072 592,015 28,480 620,495 Commerce 446,422 172,647 619,069 379,723 9,935 389,658 Tpt/Stor/Comms 579,061 6,429 585,490 922,487 2,507 924,994 Finance 117,221 652 117,873 1,251,911 141 1,252,052 Construction 135,298 84,906
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    • 817 9 COMMODITIES AFP London OIL prices tumbled last week, hampered by oversupplies and weak global demand despite a pick-up for the US economy, traders said. On Friday, official data showed the US unemployment rate fell to 5.6 per cent in December, the lowest
      AFP  -  817 words
    • 401 10 CURRENCIES BLOOMBERG New York THE euro fell for a fourth week, its longest streak of losses since September, as declining consumer prices backed the case for further monetary stimulus from the European Central Bank. The US dollar pared a fourth week of
      BLOOMBERG  -  401 words
    • FOREX RATES
      • 471 10 Jan 9 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.962 5.044 0.689 6.299 50.675 102.776 0.970 8.857 2.894 1.038 81.831 36.525 1.087 9.416 0.827 25.928 26.725 0.538 0.812 Canada 1.040 5.245
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      • 155 10 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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      • 22 10 Jan 9 S$ Bid Offer 1-month 1.3383 1.3386 2-months 1.3390 1.3394 3-months 1.3396 1.3400 6-months 1.3403 1.3411 Source: OCBC
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      • Article, Illustration
        3 10 WEEKLY
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      • Article, Illustration
        2 10 WEEKLY
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      • 3 10 COMPOSITEWEEKLY
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      • Article, Illustration
        3 10 WEEKLY
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    • EQUITY BONDS WARRANTS FUTURES
      • 365 10 Jan 9 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.74 *****.65 *****.53 Mar15 *****.00 *****.00 *****.00 *****.00 *****2 *****2 Jun15 *****.00 *****.00 *****.00 *****.00 0 3196 MSCI TAIWAN INDEX FUTURES SPOT 340.75 341.37 338.27 Jan15 341.50 344.40 338.30 339.00 ***** *****9 Feb15 341.90
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      • 209 10 Jan 9 Prem Expiry Wk Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 4.2 0.1 ***** 1 18 21 KepCorp MB eCW*****2 8.4 -4.7 ***** 0.2 900 5 DBS MB eCW*****2 11 -2.8 ***** 0.1 0
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      • 373 10 In local curr In S$ In US$ dy yr dy yr dy yr Jan 9 Index Change Change Change Change Change Change World Preliminary 1263.9 -0.8 -0.9 -1.0 -0.9 -0.6 -1.5 EAFE Preliminary 975.3 -0.7 -1.2 -0.6 -1.9 -0.2 -2.6 Europe Preliminary 1364.9 -1.4 -1.2
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    • BANK RATES
      • 154 10 Jan 9 $S Offer Bid 0vernight 0.02 Par 1-month 0.625 0.50 2-months 0.625 0.50 3-months 0.6872 0.5625 Overnight mode: 0.20 US$ Offer Bid 7 days 0.17 0.07 1 month 0.23 0.13 2 months 0.28 0.18 3 months 0.40 0.20 6 months 0.50 0.30 9 months 0.60 0.40 12
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      • 36 10 Jan 9 (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 Reuters
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      • 67 10 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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    • AGRI METALS ENERGY
      • 246 10 Jan-9 Price Net change change Last Trade Agricultural Jan-9 CBOT Soybeans (US cents/bu) 1051.50 6.50 0.62% 14/01/2015 CBOT Soybean Oil (US cents/lb) 33.54 -0.04 -0.12% 14/01/2015 CBOT Wheat (US cents/bu) 563.75 -3.25 -0.57% 13/03/2014 Jan-9 LIFFE Cocoa (£/tonne) 2037.00 -9.00 -0.44% 16/03/2015 LIFFE Coffee (US$/tonne) 1933.00 -2.00 -0.10%
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    • 847 11  -  Maybank Kim Eng sees banks gaining from higher rates; transport stocks benefiting from low commodity prices By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT HIGHER interest rates and lower commodity prices will feature strongly in the Singapore market this year, said Ng Wee Siang, Maybank
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    • 431 11  -  New leases, renewals last year at its Raffles Place/Marina Bay offices averaged S$12 psf By Jamie Lee leejamie@sph.com.sg @JamieLeeBT THE manager of Keppel Reit (real estate investment trust) said on Sunday that nine of its 11 completed office towers
      FILE PHOTO  -  431 words
    • 574 11 Payment Ex Rec Pay Ann (cts) date date date date ABF S'pore Bond Index Fd ag 3.050 02-Jan 06-Jan 15-Jan 16-Dec AIMS Property (1 Sep-31 Dec 2014) ag 0.132 29-Dec 31-Dec 13-Mar 22-Dec Boustead S'pore ay 2.000 08-Dec 10-Dec 27-Jan 28-Nov BRC Asia ak 0.800 29-Jan 02-Feb 10-Feb
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    • 259 11 Jan 9 BANKS Agricultural Bank Of China Agricultural Bank Of China 5.50 Bangkok Bank Public Co. Ltd 6.00 5.50 Bank of Communications 5.50 Bank of East Asia Bank of China Limited 5.50 Bank of Communications Bank of Tokyo-Mitsubishi Bank of East Asia Banque Internationale a Bank of
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    • 1583 11 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 2.50 2 10.85 13.32 1.55 1.45 ARA Asset Management Ltd 2.00 2.00 4 10.45 16.08 1.97 1.68 Ascendas Hospitality Trust Mgt
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    • 119 8 CATS IS THE MOST EXHILARATING AND IN The Sunday Times, UK *3 Ch r Music by ANDREW LLOYD WEBBER Based on "Old Possum’s Book of Practical Cats" by T. S. Eliot OFFICIAL CARD Original London Production by Cameron Mackintosh and The Really Useful Group. MUSICAL EVER STAGED BOOK NOW MARINABAVSAHDS.COM
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  • REAL ESTATE
    • 983 12 British investors in turn head for regional cities such as Glasgow, Leeds and Manchester REUTERS London TOUGH foreign competition in the London commercial property market is forcing local investors to invest in regional cities to tap rising rents there, with many making
      REUTERS; PHOTO: BLOOMBERG  -  983 words
    • 310 12 Developer offers holders of its London-listed GDRs shares in its holding firm REUTERS Dubai DUBAI’S DAMAC will list on the Dubai Financial Market (DFM) on Monday, a bourse spokesman said, after the developer offered holders of its London-listed global depository receipts (GDRs)
      REUTERS  -  310 words
    • 571 12 BLOOMBERG Hong Kong HONG Kong home prices surged to a record last year, making Chief Executive Leung Chun-ying’s task of addressing the city’s affordability crisis even harder. The price index compiled by the government advanced 12 per cent for
      BLOOMBERG  -  571 words
    • 1272 13 BTGraphics 2014 will probably be remembered as the year of low private home transactions, with volumes estimated to be in the range of 7,000- 8,000, down from the 14,948 units sold in 2013. Prices, however, fell at a much smaller quantum of 4 per cent, as indicated by
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  • Page 12 Advertisements
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    • 45 12 REDEFINING IDEAS printpack+sign Singapore’s printing, packaging signage business exhibition |j ‘-V -r 9 m w rr m 29-31 JULY 2015 Marina Bay Sands, Singapore www.PrintPackSign.com Interested to exhibit? Tel: (65) 6848 5938 Email: PrintPackSign@bizlink.com.sg Organised By: BIZLINK Exhibition Services Pte Ltd A SUBSIDIARY OF S|£l
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    • 105 12 ASTANA ALMATY •w Seoul Beijing Hong Kong Bangkok\* V Ho Chi Minh Kuala Lumpur* Beijing Almaty 5 times a week Beijing Astana 2 times a week Seoul Almaty >j 3 times a week Kuala Lumpur Almaty ■'t 3 times a week Bangkok Almaty ■'J*. 7 times a week Hong Kong
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  • VIEWS FROM THE TOP
    • Article, Illustration
      5265 14 THIS WEEK’S TOPIC How will the Singapore economy fare in 2015? What will be the biggest pluses and minuses for the economy? Mark Billington Regional Director South East Asia ICAEW SINGAPORE’S resilient economy withstood a property bubble and knock-on effects from a slowdown in global growth in 2014.
      PHOTO: AFP  -  5,265 words


  • BT-CITIBANK YOUNG INVESTORS’ FORUM
    • 1598 16  -  There’ll be a rough ride for Greece in 2015 but no significant impact on the euro area, says AXA investment managers By Eric Chaney, Maxime Alimi, Manolis Davradakis, Greg Venizelos T The writers are from AXA Investment Managers: Eric Chaney is chief economist; Maxime Alimi
      PHOTO: AFP  -  1,598 words
    • 1118 16  -  MONDAY MULTIPLE By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT FANCY yourself good with opaque foreign terms and acronyms? If the renewed Greek debt crisis is going to play out for a little while longer, here are some words and letters that might be thrown in your
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  • Page 16 Advertisements
    • 105 16 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
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  • BANKING & FINANCE
    • 286 17  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore NETS Singapore’s payment system provider on Sunday said that it plans to wire another 10 to 20 food centres here for contactless payments this year. In dubbing the move into hawker centres as a final frontier of
      286 words
    • 500 17 BLOOMBERG New York CITIGROUP Inc reduced the bonus pool for fixed-income and equities traders and salespeople after their division’s lacklustre performance in the final weeks of the year, according to a person briefed on the matter. The bonuses will drop 5
      BLOOMBERG; PHOTO: REUTERS  -  500 words
    • 387 17 BLOOMBERG London IF the New Year’s resolution of Goldman Sachs Group and UBS Group was to secure the lead in 2015’s ranking of stock-sale underwriters, they may have pulled it off in record time. Banco Santander picked the US and Swiss banks to
      BLOOMBERG  -  387 words
    • 812 17 Banque Cantonale de Geneve confirms release of client details but adds that the information did not represent a risk BLOOMBERG Zurich A HACKING group leaked identifying details about 30,000 clients of a small Swiss bank, after Banque Cantonale de Geneve declined
      BLOOMBERG  -  812 words
    • 253 17 REUTERS Berlin THE risk of deflation in the eurozone should not be underestimated and the best way for the European Central Bank (ECB) to deal with the problem is buying government bonds, Italy’s central bank chief was quoted on
      REUTERS  -  253 words
  • Page 17 Advertisements
    • 1610 17 The Business Times NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.sphclass.com.sg/notices IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 ELANDRA COUGAR PTE. LTD. (COMPANY REGISTRATION NO.: *****8332D) MEMBERS’ VOLUNTARY LIQUIDATION At an Extraordinary General Meeting of the Company deemed to have been held at 260 Orchard Road #13-01 The Heeren,
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  • ENERGY & COMMODITIES
    • 1009 18 Collapsing oil prices starve companies of cash, cripple growth, set up potential for supply shortage in future WP Chicago DANGEROUS and difficult oil fields that looked like goldmines when crude fetched more than US$100 a barrel have turned into money pits as
      WP  -  1,009 words
    • 491 18 REUTERS Philadelphia THE largest refinery on the US East Coast was operating at less than half its capacity late on Saturday because of a fire, a source familiar with the operations said, while plant officials reported the incident as “flaring”. A source familiar
      REUTERS; PHOTO: AFP  -  491 words
    • 330 18 REUTERS Frankfurt PIMCO will not make acquisitions as it seeks to expand its equities business, an executive of Allianz’s bond fund managing unit told a German weekly on Saturday. The fund manager has been determined to push into equities as it aims to
      REUTERS  -  330 words
    • 271 18 REUTERS New York SOME US traders are waiting more than three months to take delivery of their cotton from warehouses, traders said, kindling memories of last year’s controversy over logjams and fuelling calls for tougher regulation. Two merchants were waiting more than
      REUTERS  -  271 words
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  • TECHNOLOGY
    • 734 19 Move indicates that the company believes the US dollar is poised to remain strong this year BLOOMBERG San Francisco APPLE Inc changed the prices of software applications from Canada to Europe on Friday in one of the company’s more comprehensive global responses
      BLOOMBERG  -  734 words
    • 340 19 WP Washington ELON Musk’s daring and unprecedented attempt to land a rocket booster upright on a barge in the ocean was unsuccessful on Saturday but SpaceX, his startup space company, vowed to try again and said that the attempt
      WP  -  340 words
    • 657 19  -  San Francisco REUTERS AMAZON prides itself on being a company that breaks the rules, but its recent success in Hollywood also reflects an embrace of a more traditional, old-fashioned script. The largest US online retailer, which has spent heavily on original programming and
      REUTERS; PHOTO: AFP  -  657 words
    • 1003 19  -  COMMENTARY By Jessica Bennett NYT New York THERE were a few things that were sweetly grandmotherly about Patricia Duncan Moran’s Facebook post to her great-granddaughter Devyn on her birthday. For starters, Ms Moran had posted it to her own wall instead of Devyn’s. She named but
      NYT  -  1,003 words
    • 699 20 Some do so by sidestepping complex aspects of the virtual currency such as private keys and block chains AFP las Vegas AMID the roiling sea of gadgetry at the Consumer Electronics Show (CES) was a contingent of bitcoin start-ups intent
      AFP; PHOTO: AFP  -  699 words
    • 812 20  -  COMMENTARY By Kostadin Kushlev, Elizabeth Dunn NYT New York IS EMAIL overload bad for you? This is a complicated question. Although researchers have found a correlation between dealing with email and adverse well-being (for example, feeling stressed or emotionally drained), this does not
      NYT  -  812 words
    • 549 20 AFP Las Vegas FROM door bells that scrutinise visitors to washing machines that know when you are home and lights that click off when you get in bed, houses are getting smarter. The trend of once-dumb fixtures and appliances being given the
      AFP  -  549 words
    • 249 20 NYT Washington US President Barack Obama will announce new initiatives next week designed to bolster online security and improve access to cyberspace, White House officials said on Saturday. In a series of speeches, Mr Obama will call for better safeguards against identity theft, improved privacy
      NYT  -  249 words
  • Page 19 Advertisements
    • 39 19 Not Just IT. We Deliver Trust. Your IT Service Provider Partner gpM® Stone Forest IT 01 A P o www.StoneForestlT.com Hotline+65 6594 7594 For enquiries, email to ITSales@StoneForestlT.com Sage CRM Sage ITOu 300 ERR Outsourcing IT Infrastructure Network Security
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  • CONSUMER
  • Page 21 Advertisements
    • 2979 21 The Business Times k I 1 I /"I I 1 P Toll free 1800-289-8822 I I Email notices@sph.com.sg i j L J www.sphclass.com.sg/notices '~..>*{^+].:})}<!\*:(,->]-":`!- TECHNICS OIL GAS LIMITED Registration No. *****5249E (Incorporated in Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of the
      2,979 words

  • TRANSPORT
    • 628 22 Financial markets doubt the carmaker’s ability to move smoothly into the popular auto market AFP New York TESLA Motors has been the darling of Wall Street. A-list stars including Hollywood’s leading men Leonardo DiCaprio, Brad Pitt and George Clooney are all also
      AFP; PHOTO: BLOOMBERG  -  628 words
    • 687 22 AFP Kuala Lumpur UNTIL Flight QZ8501 went down, everything had gone right during a spectacular 13-year run of success for AirAsia, which unlocked a booming market of budget travellers in the region. But as long as no serious safety lapses emerge, analysts say
      AFP; PHOTO: AFP  -  687 words
    • 327 22 AFP Nicosia CYPRUS defended on Saturday the decision to halt flights by its national carrier, calling the closure of debt-laden Cyprus Airways “unavoidable”, as pilots vowed action against the government. Government spokesman Nicos Christodoulides told state radio that authorities had tried to rescue the stricken
      AFP  -  327 words
    • 567 22 WP Dallas SNORING, slouching sleepers and the challenges of climbing over fellow passengers for a trip to the restroom. Those are among the myriad in-flight etiquette issues faced by travellers on crowded planes, and are the first targeted by JetBlue
      WP  -  567 words
    • 542 22 REUTERS New York UNITED Airlines has paid a premium to dump old losing bets on higher oil prices, and is reviewing its strategy for insulating itself from oil market volatility, in a sign of how some airlines’ efforts to hedge their
      REUTERS  -  542 words
    • 302 22 BLOOMBERG Berlin THE European Parliament should reconsider its misgivings on legislation to improve data-sharing on air travellers entering and leaving the continent after last week’s terror attacks in France, German Chancellor Angela Merkel said. Speaking in Hamburg on Saturday, Mrs Merkel
      BLOOMBERG  -  302 words


  • 1932 24 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 THOR FRIEND 4 60 23/1 24/1 29/1 OCEANIC PESCADORES 40 60 31/1 4/2
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  • Page 24 Advertisements
    • 106 24 Experienced ship maintenance services wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES SHIPPING TIMES Make A Splash In The Maritime World Via sbh;imaritme.coM Ahoy there! If you are in a business pertaining to any sector of
      106 words

  • GOVERNMENT & ECONOMY
    • 952 25 Rally in Dresden, Germany against racism and xenophobia draws tens of thousands REUTERS Paris DOZENS of world leaders including Muslim statesmen gathered in Paris on Sunday to join hundreds of thousands of French citizens set to march amid high security in an unprecedented
      REUTERS; PHOTO: REUTERS  -  952 words
    • 591 25  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE Singapore Democratic Party (SDP) may have lost two of its biggest names since the last general election (GE) in 2011, but the chief of the opposition party is still confident of fielding a strong
      PHOTO: MARK CHEONG/THE STRAITS TIMES  -  591 words
    • 390 25 AFP Dhaka A ROLLING transport blockade organised by the opposition is taking a huge toll on Bangladesh’s economy, with the vital garment industry hit particularly hard, a business leader warned on Sunday. Opposition leader Khaleda Zia called for the open-ended blockade
      AFP  -  390 words
    • 668 25 AFP Colombo SRI Lanka’s new government on Sunday accused toppled strongman Mahinda Rajapaksa of having tried to stage a coup to cling to power after losing last week’s presidential election. Mr Rajapaksa, South Asia’s long-est-serving leader before losing last
      AFP  -  668 words
    • 1007 26 They suggest that investors should start focusing on countries that are net importers of oil and other commodities NYT New York INVESTING in rapidly developing economies is an inherently risky proposition. That is why more than a decade ago, investors embraced
      NYT; PHOTO: AFP  -  1,007 words
    • 723 26 AFP Paris A GREEK exit from the eurozone would certainly come at a cost to Europe, but just how expensive would it be? The amount Athens owes its partners is equivalent to just a tiny fraction of the eurozone’s economy,
      AFP; PHOTO: REUTERS  -  723 words
    • 476 26 REUTERS Athens GREEK Prime Minister Antonis Samaras is pledging to cut taxes and gradually end austerity as he seeks to woo voters and overturn a poll lead by the leftist opposition party Syriza ahead of a snap election. At
      REUTERS  -  476 words
    • 649 26 AFP Pretoria SOUTH Africa’s capacity to generate electricity is shrinking due to ageing power plants, latest statistics show, and the continent’s most developed economy could face rolling blackouts for years to come. New data released by Statistics South Africa highlight how the
      AFP  -  649 words


  • DINING OUT
    • 929 27 Sushi Jin isn’t cheap enough to compete with the mid-price eateries, and its best quality isn’t enough to beat high-end sushi joints. BY JAIME EE jaime@sph.com.sg @JaimeEeBT NEW RESTAURANT Sushi Jin #01-11/12 Owen Link One Farrer Hotel Spa 1 Farrer Park station Road Tel:
      929 words
    • 633 27  -  By Jaime Ee jaime@sph.com.sg @JaimeEeBT NEW RESTAURANT Koji Sushi Bar 3 Pickering Street #01-42 Nankin Row Tel: *****125 Open for lunch and dinner Mon to Sat: 11.30am to 3pm; 5pm to 10pm. IF you’re undecided about whether Sushi Jin is mid-priced or
      633 words
  • Page 27 Advertisements
    • 91 27 CONGRATULATIONS TO THE WINNERS OF THE LATEST STRAITS TIMES CAR OF THE YEAR 2014 BMW 3 BEST PERFORMANCE HATCHBACK/SALOON AUDI S3 SPORTBACK/SEDAN BEST NOTCHBACK COUPE BMW 2 SERIES BEST 6-CYLINDER LUXURY SALOON HYUNDAI GENESIS BEST LIMOUSINE MERCEDES-BENZ S-CLASS BEST THREE-DOOR HATCHBACK MINI BEST SPORTS UTILITY VEHICLE PORSCHE MACAN BEST FAMILY
      91 words

  • LIFE & CULTURE
    • 612 28 All money from sales of the issue to go to the families of the 12 people killed in attack AFP Paris A “SURVIVORS’ issue” of Charlie Hebdo coming out this week will also be sold outside France because of the huge global
      AFP; PHOTO: REUTERS  -  612 words
    • 251 28  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Fortune Bag giveaway with every S$50 donation to Com Chest FOR each outright donation of S$50 or more, Community Chest will arrange for a Fu Dai (mandarin for “Fortune Bag”) giveaway to beneficiaries of 14 local social service programmes. These beneficiaries include Chen
      251 words
    • 638 28 AFP Manila POPE Francis will immerse himself in some of Asia’s most fervent Catholicism during a trip to the Philippines and Sri Lanka starting Tuesday, with millions of devotees set to turn out. The Argentinian pontiff with a man-of-the-people reputation could attract one
      AFP; PHOTO: AFP  -  638 words
  • Page 28 Advertisements
    • 196 28 An inaugural March career fair by STJobs.sg HUNTINGSEASON ISOVER. Stop having to seek out your ideal candidates and let them come to you instead! Be a part of the STJobs Express Fair 2015, the definitive event for companies who are looking to diversify their workforce with the right talent. Why
      196 words
  • Page 28 Miscellaneous
    • 298 28 CRYPTIC CROSSWORD Across 1 Impostor? Nonsense (6) 5 Disease, nasty-sounding pets affected (4-4) 9 Honeymoon suite for them grand bedroom, I suspect (5,3,5) 10 Mate ringing a seabird is taking protective interest (8) 11 French dramatist elected to enter competition (6) 12 Nothing about English version in US state (6)
      298 words