The Business Times, 14 January 2015
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2015-01-14
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The Business Times
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Title Section29 2015-01-14 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G Z ©BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 I Wednesday, October 8, 2014 January 14 529 words
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DAILY DIGEST
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Article33 2015-01-14 1 restructuring initiatives are not set in stone and are open to change, says Liang Eng Hwa, chairman of the Government Parliamentary Committee for Finance, Trade and Industry. TOP STORIES 233 words
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Article, Illustration26 2015-01-14 1 3.4 per cent in 2014, missing its official target by far with trade surplus surging to a record US$382.46 billion. TOP STORIES/ 526 words
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27 2015-01-14 1 of global sovereign its Islamic sukuk even as its Islamic banking assets and localcurrency sales lag behind Malaysia. BANKING FINANCE 1327 words
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43 2015-01-14 1 have derailed natural gas export projects from Australia to Africa, US plans to build new terminals are getting a boost from a pricing system that charges a set fee to liquefy and ship the gas. energy COMMODITIES/1543 words
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Article27 2015-01-14 1 initiated simultaneous translation between English and Spanish speakers. Not to be outdone, Google will soon announce updates to its translation app for phones.TECHNOLOGY 1627 words
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Article33 2015-01-14 1 to cut fuel subsidies in the wake of the oil price plunge will free up financial resources for infrastructure building and other development priorities, says the ADB president. GOVERNMENT ECONOMY /1933 words
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Article31 2015-01-14 1 that have so far eluded American workers probably will begin to materialise this year as the job market tightens, according to economists polled by Bloomberg.GOVERNMENT ECONOMY 2031 words
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Article23 2015-01-14 1 have retrieved the cockpit voice recorder from beneath the wreckage of the AirAsia plane that crashed into the Java Sea. TRANSPORT/2223 words
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Article27 2015-01-14 1 Tuesday Change STI 3,341.07 (-3.82) KL COMP 1,748.90 (+13.82) NIKKEI 225 17,087.71 (-110.02) HANG SENG 24,215.97 (+189.51) SHENZHEN B 1,074.67 (+9.00) DOW (11am EST) 17,887.77 (+246.93)27 words
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809 2015-01-14 1 Anita Gabriel - Source says due diligence exercise shows up wide gap in MBSB’s loan provisioning practice with that of potential partners By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore THE grand plan to create Malaysia’s biggest bank may be dead in the water no809 words
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Article, Illustration768 2015-01-14 1 Lee U-Wen - Corruption laws being reviewed, CPIB to get more manpower, new reporting centre for whistleblowers By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore PRIME Minister Lee Hsien Loong on Tuesday described the thousands of officers in Singapore’sPHOTO: ALPHONSUS CHERN/THE STRAITS TIMES - 768 words
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Page 1 Advertisements
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Advertisement29 2015-01-14 1 8"*****1 *****4 TAXI FARES TO GO UP? Increase could replace morning and afternoon peak-period surcharge TOP STORIES 4 COMMENTARY 2015: The year the renminbi goes mainstream OPINION PAGE 2529 words
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Advertisement28 2015-01-14 1 RETAIL REACH Bumps seen in impact of smaller board lots COMPANIES MARKETS 7 MARGINAL RISE Resale prices of private condos up 0.1% in December: SRX real estate 1228 words
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Advertisement12 2015-01-14 1 EQUITY RETURNS Riding Asia’s ‘Great Moderation’ era in 2015 EXECUTIVE MONEY 2712 words
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TOP STORIES
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Article, Illustration551 2015-01-14 2 Kelly Tay - Pre-Budget discussion homes in on foreign worker quotas and levies; tweaks suggested for PIC scheme By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore THE government’s restructuring initiatives are not set in stone and are open to change, said Liang Eng Hwa, chairman of theSource: ISCA Pre-Budget Survey 2015 - 551 words
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Article, Illustration1008 2015-01-14 2 Kalpana Rashiwala - URA proposes rezoning the area from lorongs 4-22 to new commercial/ institution use from residential/institution use By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore THE Urban Redevelopment Authority (URA) will not approve any new residential projects in a 14-hectare stretch ofSource: URA, www.onemap.sg - 1,008 words
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Article525 2015-01-14 4 Samuel Ee - Increase could replace morning and afternoon peak-period surcharge By Samuel Ee samuelee@sph.com.sg Singapore TAXI fares could soon be raised in a move aimed at improving cabbies’ income and at retaining drivers. There is speculation that market leaders Comfort and CityCab are planning an increase in525 words
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464 2015-01-14 4 Jamie Lee - Data also shows UHNW individuals in S’pore will pass on US$110b to next generation By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore ASIA’S ultra high net worth individuals (UHNWIs) are expected to transfer US$3 trillion to the next generation in the464 words
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Article, Illustration322 2015-01-14 4 Kenneth Lim - The current decline in oil prices has become a major spill. How does it stack up against past slumps? By Kenneth Lim By Kenneth Lim Big drops of oil Month-end Brent crude price Before the current fall, there were 13 troughs over the last 26 years when theBT Graphics: Ludwig Ilio Sources: Bloomberg, International Energy Agency, World Bank - 322 words
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643 2015-01-14 5 Virginie Mangin - Poor showing from imports last year due to falling commodity prices By Virginie Mangin btworld@sph.com.sg Beijing CHINA’S trade grew 3.4 per cent in 2014, missing its official target by far with trade surplus surging to a record US$382.46 billion, mainly due643 words
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539 2015-01-14 5 Mindy Tan - Credit bureau says higher rentals and pressure on retail businesses to wean off cheap labour making suppliers nervous By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore SMALL and medium-sized enterprises (SMEs) in Singapore’s retail sector are paying their bills sooner, having539 words
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Article, Illustration373 2015-01-14 5 Siow Li Sen - By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore THE yield on the 10-year Singapore Government Securities (SGS) has plunged below 2 per cent as it tracks the southbound 10-year US Treasury (UST) yield on growing speculation that interest rate hikes will be delayed. SGS investorsSource: Bloomberg - 373 words
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Advertisement28 2015-01-14 2 Blow your own trumpet Buy new musical instruments or put up your old ones for sale in CLASS 72 To advertise, call the Print Classified Hotline: 1800-289 998828 words
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Advertisement236 2015-01-14 4 'ftp bp F V x m i I ill -f /kf-6 >yS J ■A:.--.-' M Prosperous Lunar New Year Delicacies 2 February to 5 March 2015 Usher in the Year of the Goat with an exquisite menu to celebrate an abundant year ahead with your loved ones. Master Chef Mok236 words
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Advertisement1801 2015-01-14 5 A Special Feature Presented by SMU Executive Development The Race to Create Talent Singapore Management University’s Steve Wyatt explains how university support to corporate academies gives them the edge in the ‘race to create talent’ V There is no war for talent. The assertion may raise more than a few1,801 words
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COMPANIES & MARKETS
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Article487 2015-01-14 6 Andrea Soh - Fall of 21.9%; group works on uplift for core media business amid new digital initiatives By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore MEDIA and property group Singapore Press Holdings (SPH) posted a net profit of S$69.4 million for its fiscal first quarter a year-on-year drop487 words
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Article, Illustration490 2015-01-14 6 Chan Yi Wen - HOT STOCK By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore SHARES of Noble Group plunged 6.82 per cent on Tuesday to a 10-month low of S$ 1.025; the commodities trader was among the most heavily traded, with more than 70 million shares changing hands. TheSource: Bloomberg - 490 words
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487 2015-01-14 6 Jacquelyn Cheok - By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore CROWDYNEWS a Netherlands-based social media curation platform for media companies has raised 2.5 million euros (S$3.95 million) in Series A funding, in a round led by Dutch venture capital firm INKEF Capital and joined by487 words
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572 2015-01-14 7 Kenneth Lim - SGX mounts campaign to widen retail reach By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore STICKY fees and a relatively inactive retail segment could limit the immediate impact of the move to reduce the smallest multiple of shares that can be traded, say572 words
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273 2015-01-14 7 Singapore SGX-Catalist listed DeClout, along with its wholly owned subsidiary Acclivis Technologies and Solutions, on Tuesday announced that it has entered into a proposed agreement to acquire OSINet Communication, which owns a local ISP (Internet Service Provider) licence in Singapore. Under the terms273 words
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427 2015-01-14 7 Jamie Lee - By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THE US Federal Reserve is unlikely to tighten the interest rate this year, given global concerns over deflation, and as oil prices have declined, senior executives from fund management Amundi Asset Management said on Tuesday. “We’re427 words
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217 2015-01-14 7 Singapore SINGAPORE Technologies Engineering’s aerospace arm, ST Aerospace, has landed new contracts totalling S$310 million in the fourth quarter of 2014. Among the contract wins is a five-year maintenance-by-the-hour contract with a returning airline customer in Asia, which operates a217 words
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536 2015-01-14 8 Pauline Ng - US$1.1b balance in investment redeemed following an earlier amount of US$1.2b By Pauline Ng btworld@sph.com.sg Kuala Lumpur MALAYSIA’S 1MDB has finally redeemed in full the US$2.318 billion it invested in a Cayman Islands registered fund, a move it hopes will ease some of536 words
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684 2015-01-14 8 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore AFTER a tough 2014, Singapore Airlines (SIA) is starting this year with a renewed optimism, as the major components of its strategy to position the group for the future are now taking shape,684 words
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IN BRIEF
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75 2015-01-14 8 TEE International’s profit for the second quarter ended Nov 30, 2014 dipped 5.8 per cent to S$1.52 million, mainly due to lower turnover from ongoing engineering projects and higher administrative expenses. Revenue fell 14.2 per cent to S$43 million. Earnings per share stood at75 words
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57 2015-01-14 8 CATALIST-LISTED integrated professional services provider Zico Holdings plans to set up a joint-venture company (JVC) with Stamford Law Corp to provide corporate secretarial services. The 51-49 per cent owned venture will manage and hold the title, right and interest to Zico’s S$2.4 million57 words
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Article51 2015-01-14 8 MAIN BOARD-LISTED King Wan Corp has secured four new mechanical and electrical projects in Singapore worth a total of S$43.3 million, bringing its current order book to S$209 million. The projects will start within the next six months and scheduled for a 201851 words
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34 2015-01-14 8 MAINBOARD-listed Global Logistic Properties has incorporated four and acquired two new indirect subsidiaries in China. The six new subsidiaries are involved in distribution facilities and services.34 words
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283 2015-01-14 8 REUTERS Bangkok TWO Thai developers, Golden Land Property Development PCL and Country Group Development PCL, plan initial public offerings of their real estate investment trusts (Reits) to raise funds for expansion. Golden Land, part of the real estate empire controlled by Thai billionaireREUTERS - 283 words
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Article, Illustration63 2015-01-14 10 STI Catalist Straits Times index Jan 13,2015 3,341.07 -3.82 (-0.11%) Current streak 1 day Day high 3,346.60 Day low 3,325.43 52-week high 3,374.06 (July 31, 2014) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist index Jan 13,2015 745.82 -1.92 (-0.26%) Current streak 3 days Day high 750.43 Day low63 words
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Article, Illustration642 2015-01-14 10 R Sivanithy - Noble Group contributes to index fall as the stock dives 6.8% in heavy selling STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT AFTER the excitement and volatility of last week, Tuesday’s session in the local stock market had a more familiar look to it theSource: Bloomberg - 642 words
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Article304 2015-01-14 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 253 +6 254/245 254 206 5.6 6396.7 CapitaLand 321 -1 324/320 348 268 16.1 2.5 ***** CapitaMall Trust 211 +3 212/207 212 180 4.9 7318.1 CityDev 1010 -2 1019/1010 1118 860 13.7304 words
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Article37 2015-01-14 10 VOLUME Pacific Andes R 112,583,800 Memstar Tech 70,326,000 Noble 70,032,200 IHC 67,968,000 IHH Healthcare 36,007,000 Market volume 1,571,962,000 VALUE Keppel Corp 74,404,850 Noble 72,870,335 SingTel 69,385,870 IHH Healthcare 64,812,580 DBS Grp 58,910,380 Market value 1,188,918,00037 words
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Article108 2015-01-14 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS India US$ US751 +5 336 756/751 790/541 749/751 93.9 Nikko AM STI ETF 340 270 340/338 422/300 338/340 8.2 UETF SSE50China 227 -1 232 231/227 238/140 227/228 70.9 STI ETF 338 -2 58 339/338108 words
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Article77 2015-01-14 10 Jan 13 VALUE CLOSE BT OB/OS -23.00 -101.00 BT CADI -*****.00 -61.00 BT 10-day MA -*****.00 -2.00 FTSE ST Mid Cap 756.02 -1.63 FTSE ST Small Cap 497.77 -2.64 FTSE ST All Share 802.47 -1.26 FTSE ST China Top 193.57 -0.91 FTSE ST China 230.32 -0.83 FTSE77 words
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Article, Illustration35 2015-01-14 10 STI FTSE ST All-Share ftse ST All-Share index Jan 13,2015 802.47 -1.26 (-0.16%) Current streak 1 day Day high 803.60 Day low 799.74 52-week high 819.39 (July 31, 2014) 52-week low 722.35 (Feb 5, 2014)35 words
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Article, Illustration33 2015-01-14 10 STI MSCI EAFE MSCI EAFE index Jan 12,2015 1,734.47 +4.95 (+0.29%) Current streak 1 day Day high 1,737.61 Day low 1,726.59 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)33 words
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Article186 2015-01-14 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 6 4 0 0 0 3 6 4 Manufacturing 24 54 38 7 4 12 31 58 50 Commerce 14 18 25 2 6 3 16 24 28 Tpt/Stor/Comms 16 16 9186 words
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Article121 2015-01-14 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 20,557 20,557 102,107 102,107 Manufacturing 328,859 30,800 359,659 87,269 4,154 91,424 Commerce 115,764 37,244 153,008 153,927 2,856 156,783 Tpt/Stor/Comms 100,971 604 101,575 159,599 227 159,826 Finance 18,028 325 18,353 179,512 68 179,579 Construction 18,539 17,312121 words
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Article77 2015-01-14 10 BY CENTS CLOSE UP 52w high/low GLD US$ ***** 260.5 1.7 *****/***** JMH USD 6299 89.5 1.1 6460/4934 DBXT MSAsExJp US$ 3620 81.5 1.7 3808/2802 DBXT MSINDIA US$ 1057 70.8 5.3 1101/797 JSH USD 3530 33.4 0.7 3810/3006 BY PERCENTAGE CLOSE UP 52w high/low Innopac W*****0 0.2 100.0 0.177 words
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Article77 2015-01-14 10 BY CENTS CLOSE DOWN 52w high/low DBXT DBLCI-OY US$ 2588 -46.8 -1.3 3545/2588 DBXT Vietam US$ 2710 -40.1 -1.1 3100/2403 Hyflux 6% CPS ***** -35.0 -0.3 *****/***** Jardine C&C 3958 -19.0 -0.5 4901/3330 DBXT MSBrazil US$ 379 -13.4 -2.6 614/357 BY PERCENTAGE CLOSE DOWN 52w high/low Viking W*****5 0.377 words
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Article82 2015-01-14 10 VOL CLOSE($) CHANGE Linair Tech 200.0 0.032 +0.007 +28.00 SHI ADR US$ 0.4 28.840 +1.160 +4.19 Darco Water Tech 652.0 0.026 +0.005 +23.81 Captii 1,445.0 0.050 +0.007 +16.28 Cheung Woh 599.0 0.200 +0.020 +11.11 Xyec 369.0 0.230 +0.025 +12.20 MegaChem 98.0 0.360 +0.060 +20.00 Swiber 21,103.0 0.192 -0.03382 words
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BROKERS’ TAKE
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Article151 2015-01-14 10 Buy Jan 13 close: S$0.705 Target price: S$0.82 DBS Group Research Equity, Jan 13 WE remain positive on the stock for three reasons: 1) More stores are expected to open, starting with Sheng Siong Group’s (SSG) new Tampines store, which is scheduled to open this month. SSG151 words
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Article244 2015-01-14 10 Teh Shi Ning - Compiled by Teh Shi Ning Hold Jan 13 close: S$0.62 Fair value: S$0.65 OCBC Investment Research, Jan 13 LIAN Beng announced H1FY15 profit after tax and minority interests (Patmi) of S$35.5 million, up 105.2 per cent year-on-year mostly due to its share of results of associates and244 words
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Article39 2015-01-14 10 DATA I 8.00 pm (Jan 14) US MBA morgage applications I 3.00 am (Jan 15) US Federal Reserve Beige Book I 9.30 pm (Jan 15) US initial jobless claims I 1.00 pm (Jan 15) Singapore retail sales index39 words
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380 2015-01-14 11 CURRENCIES REUTERS London STERLING fell towards an 18-month low against the US dollar on Tuesday, after data showed British inflation at its lowest since 2000, bolstering expectations that the Bank of England will keep interest rates suppressed for a while. The dollar also reversed earlierREUTERS - 380 words
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FOREX RATES
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Article471 2015-01-14 11 Jan 13 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.979 5.071 0.691 6.340 50.726 103.030 0.967 8.852 2.938 1.051 82.199 36.604 1.092 9.390 0.830 26.029 26.861 0.540 0.818 Canada 1.022 5.181471 words
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Article155 2015-01-14 11 Jan 13 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0921 1.0925 0.8176 0.8178 Canadian dollar 1.1157 1.1160 0.8354 0.8353 Euro 1.5809 1.5816 1.1836 1.1839 NZ dollar 1.0392 1.0400 0.7780 0.7785 Sterling pound 2.0222 2.0232 1.5140 1.5145155 words
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Article22 2015-01-14 11 Jan 13 S$ Bid Offer 1-month 1.3361 1.3364 2-months 1.3366 1.3370 3-months 1.3372 1.3375 6-months 1.3381 1.3388 Source: OCBC22 words
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EQUITY BONDS WARRANTS FUTURES
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214 2015-01-14 11 Most active Jan 13 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****2 10.4 -0.3 5970 0.1 0 5 OCBC Bk MB eCW*****3 6.6 -0.4 4680 0.2 1060 3 OCBC Bk MB eCW*****3 12.5 -0.4 3030 0.2214 words
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373 2015-01-14 11 In local curr In S$ In US$ dy yr dy yr dy yr Jan 12 Index Change Change Change Change Change Change World Preliminary 1261.4 -0.2 -1.1 -0.2 -1.0 -0.3 -1.8 EAFE Preliminary 979.0 0.4 -0.8 0.4 -1.5 0.3 -2.3 Europe Preliminary 1372.9 0.6 -0.6373 words
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Article362 2015-01-14 11 Jan 13 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.88 *****.71 *****.27 Mar15 *****.00 *****.00 *****.00 *****.00 ***** *****5 Jun15 *****.00 *****.00 *****.00 *****.00 0 3196 MSCI TAIWAN INDEX FUTURES SPOT 335.66 339.34 335.66 Jan15 337.00 339.90 334.20 338.70 ***** *****8 Feb15 337.10362 words
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BANK RATES
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Article36 2015-01-14 11 Jan 13 (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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Article154 2015-01-14 11 Jan 13 $S Offer Bid 0vernight 0.08 0.03 1-month 0.625 0.50 2-months 0.625 0.50 3-months 0.6872 0.5625 Overnight mode: 0.18 US$ 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 12154 words
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Article69 2015-01-14 11 Jan 13 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105.09 105.15 105.13 5-Year N*****0H 1.625 01-Oct-19 101.12 101.25 101.09 10-Year NY*****H 3.000 01-Sep-24 108.79 109.00 108.50 15-Year NY*****E 2.875 01-Jul-29 106.8 107.10 106.65 20-Year NZ*****V 3.375 01-Sep-33 113.7469 words
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AGRI METALS ENERGY
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Article249 2015-01-14 11 Jan-12 Price Net change change Last Trade Agricultural Jan-12 CBOT Soybeans (US cents/bu) 1013.50 -38.00 -3.61% 14/01/2015 CBOT Soybean Oil (US cents/lb) 32.45 -1.09 -3.25% 14/01/2015 CBOT Wheat (US cents/bu) 555.50 -8.25 -1.46% 13/03/2014 Jan-12 LIFFE Cocoa (£/tonne) 2055.00 18.00 0.88% 16/03/2015 LIFFE Coffee (US$/tonne) 1953.00 20.00 1.03%249 words
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Advertisement18 2015-01-14 6 Singapore Finally Gets Tune in to 91.3FM on 19 January, 8am! 91.3fm is part of SPH Radio network18 words
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Advertisement90 2015-01-14 7 ONLINE SALE www.oaks.com.sg Wine, Whisky, Sake, Champagne, Life Style and Wine ACCeSSOrieS Over 500 products available Rose Champagne Offer! Dom Perignon Rose 1996 Now: S$490.00 Usual: SS625.00 Veuve Fourny Now: S$109.00 Rose les Rougesmonts Extra Brut NV Usual: sstss.oo It's} I 'DiscoveryI The Oaks Cellars Pte Ltd 315 Outram Road90 words
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Advertisement25 2015-01-14 8 Get your 5th ‘C’ here Choose from various club memberships or sell yours in CLASS 66 To advertise, call the Print Classified Hotline: 1800-289 998825 words
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Advertisement825 2015-01-14 9 SINGAPORE PRESS HOLDINGS LIMITED INCORPORATED IN SINGAPORE. CO. REG. NO. *****2868E Unaudited Results for the First Quarter ended November 30, 2014 (Extract) GROUP FINANCIAL HIGHLIGHTS Change ■c 1Q 2015 $’000 1Q 2014 $’000 Operating revenue 307,057 328,475 (6.5) Operating profit# 102,344 116,873 (12.4) Net income from investments 1,682 5,119 (67.1)825 words
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REAL ESTATE
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579 2015-01-14 12 Lynette Khoo - But property consultants view the rise as a blip as demand appears muted for 2015 By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT A 0.1 per cent rise in resale prices of private condos in December, going by flash estimates of SRX Property,579 words
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298 2015-01-14 12 BLOOMBERG London ECO World Investment Co, a Malaysian property company owned by former SP Setia Bhd executives, agreed to acquire a 75 per cent stake in three London residential projects that will be valued at £2.2 billion (S$4.5 billion)BLOOMBERG - 298 words
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224 2015-01-14 12 BLOOMBERG Beijing KAISA Group Holdings Ltd is being investigated by the Chinese government about links to a senior official in the city of Shenzhen who’s under a probe, according to two people familiar with the matter. Kaisa, which last week became theBLOOMBERG - 224 words
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Article, Illustration671 2015-01-14 12 Lee Meixian - By Lee Meixian leemx@sph.com.sg @LeeMeixianBT A HOUSING Board tender for a mixed-use commercial/residential site at Yishun Ave 4 which closed on Tuesday garnered a “muted” turnout from just five bidders. This fell short of consultants’ earlier predicted six, to asSource: HDB - 671 words
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593 2015-01-14 12 Pauline Ng - By Pauline Ng btworld@sph.com.sg Kuala Lumpur A DETAILED environmental impact assessment (DEIA) report for the proposed Forest City Island Reclamation and Mixed Development off southwest Johor has been approved by Malaysia’s Department of Environment (DoE), paving the way for593 words
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Advertisement358 2015-01-14 12 L~nt V I B TTEN SEMIN V Xl'V.V •7ft r ALSO PRE-LAUNCH SALES London's Royal Dockside 1 billion regeneration location Close to Asian business port ’V MEET OUR GUEST SPEAKER London Finance Expert MASOOD RASHID MD (Opes Finance UK) (S i era "Attend our FREE UK Finance Seminar and meet358 words
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BANKING & FINANCE
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745 2015-01-14 13 It is issuing such debt for 5th year running; sales in past 4 years tote up to US$5b, ahead of Malaysia’s US$3.25b and Qatar’s US$2b BLOOMBERG Kuala Lumpur INDONESIA is the most regular issuer of global sovereign sukuk even as its IslamicBLOOMBERG - 745 words
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Article, Illustration591 2015-01-14 13 BLOOMBERG Washington EVEN as they’ve captured a bigger slice of US stock trading, dark pools have faced less regulation than the better-known public exchanges. Regulators are taking steps to change that. The Securities and Exchange Commission is developing rulesBLOOMBERG; PHOTO: BLOOMBERG - 591 words
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717 2015-01-14 13 BLOOMBERG Frankfurt ANSHU Jain and Juergen Fitschen have a problem. Of all the stocks of global investment banks, none is as unloved by investors as their own. The co-chief executive officers of Frankfurt-based Deutsche Bank gave a dim assessmentBLOOMBERG - 717 words
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314 2015-01-14 13 REUTERS New York A LAWYER for a former UBS AG trader charged with engaging in a fraud conspiracy following a US investigation of Libor rate manipulation on Monday urged a New York federal judge to dismiss the case. An attorney forREUTERS - 314 words
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Advertisement278 2015-01-14 13 NUS National University of Singapore Department of Building School of Design Environment Master of Science in Project Management with Project Finance Specialisation Admission to August 2015 Intake Applications are invited from investors, lenders, consultants, government officials, lawyers, and other professionals who are involved in securing project financing for infrastructure projects278 words
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Advertisement6099 2015-01-14 14 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART ,IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION. VOLUNTARY CONDITIONAL CASH OFFER by DBS Bank Ltd. (Company Registration No.: *****0306E) (Incorporated in the Republic Singapore) for6,099 words
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ENERGY & COMMODITIES
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Article, Illustration665 2015-01-14 15 BLOOMBERG Houston WHILE plunging prices tied to oil have derailed natural gas export projects from Australia to Africa, US plans to build new terminals are getting a boost from a pricing system that charges a set fee to liquefy andBLOOMBERG; PHOTO: BLOOMBERG - 665 words
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724 2015-01-14 15 BLOOMBERG Kuala Lumpur YUSOF Mohd Isa’s oil-palm plantation on the banks of Malaysia’s Terpai river was submerged under 3.7 metres of water last month. The 60-year-old farmer, who harvests fruit every two weeks, reaped less than half a metric ton once theBLOOMBERG - 724 words
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480 2015-01-14 15 BLOOMBERG Singapore GOLD will extend losses this year as US interest rates increase, providing an opportunity for investors to buy the metal to benefit from a rebound spurred by Asian demand, according to Barclays plc. “We expect gold prices to test new lowsBLOOMBERG - 480 words
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389 2015-01-14 15 BLOOMBERG Toronto ALCOA Inc, the largest US aluminium producer, forecast global use to grow 7 per cent this year as automakers use more of the lightweight metal and orders from the aerospace industry accelerate. Demand for commercial and regional jets willBLOOMBERG - 389 words
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Page 15 Advertisements
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Advertisement1230 2015-01-14 15 12. INDICATIVE TIMELINE 12.1 Offer Document. The Offer Document, setting out the terms and conditions of the Offer and enclosing the relevant forms of acceptance and approval of the Offer will be despatched to the LCD Shareholders not earlier than 14 days and not later than 21 days from the1,230 words
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TECHNOLOGY
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726 2015-01-14 16 Not to be outdone by Skype, Google will announce updates to its translation app NYT New York THE tech industry is doing its best to topple the Tower of Babel. Last month, Skype, Microsoft’s video calling service, initiated simultaneous translation between English and SpanishNYT - 726 words
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Article, Illustration537 2015-01-14 16 REUTERS Las Vegas SONY Corp CEO Kazuo Hirai has weathered a crisis over a cyberattack on its Hollywood studio and its controversial comedy The Interview, but his toughest moment may be just arriving as he prepares a new businessREUTERS; PHOTO: BLOOMBERG - 537 words
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270 2015-01-14 16 NYT New York SPOTIFY, the streaming music service, has signed up 15 million subscribers, a sign of rapid growth for the company and an implicit rebuttal in a roiling industry debate over whether people are willing to pay for music online. Spotify,NYT - 270 words
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590 2015-01-14 16 NYT Los Angeles AMONG the usual names invoked during the acceptance speeches at Sunday’s Golden Globes Harvey Weinstein, Scott Rudin, Les Moonves was an unusual one: tech billionaire Jeff Bezos, founder and chief executive of Amazon. His company’s streamingNYT - 590 words
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Page 16 Advertisements
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Advertisement999 2015-01-14 16 NOTICE OF COURT HEARING IN THE HIGH COURT OF THE REPUBLIC OF SINGAPORE Originating Summons No. 1088 of 2014 In the Matter of Section 210 of the Companies Act (Chapter 50) And In the Matter of Giken Sakata (S) Limited (Registration No. *****3879W) …Applicant SCHEME OF ARRANGEMENT under Section 210999 words
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Page 17 Advertisements
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Advertisement5427 2015-01-14 17 COSMOSTEEL HOLDINGS LIMITED Company Registration No. *****5540Z NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Ninth Annual General Meeting of CosmoSteel Holdings Limited (the “Company”) will be held at Jurong Country Club, 9 Science Centre Road, Singapore *****8 on Friday, 30 January 2015 at 10.00 a.m. to5,427 words
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CONSUMER
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746 2015-01-14 18 Cancer incidence in China has doubled in last two decades; govt looking for ways to boost insurance coverage for such diseases BLOOMBERG Hong Kong AS ONE of China’s wave of entrepreneurs, Xiao Caiyu built and ran a small pork business with her husbandBLOOMBERG - 746 words
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Article, Illustration372 2015-01-14 18 AFP Hong Kong JAPANESE clothing giant Uniqlo came under fire on Tuesday for buying supplies from Chinese factories accused of putting workers at risk in unsafe conditions, with sewage on the factory floor, extremely high temperatures and poor ventilation. The claims made byAFP; PHOTO: REUTERS - 372 words
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Page 18 Advertisements
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Advertisement2705 2015-01-14 18 ASIATRAVEL.COM HOLDINGS LTD (Company Registration No.: *****7534E) (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Asiatravel.com Holdings Ltd (the “Company”) will be held at 615 Lorong 4 Toa Payoh, #01-01 Storhub, Singapore *****6 on Friday, 30 January2,705 words
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GOVERNMENT & ECONOMY
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Article, Illustration523 2015-01-14 19 Anthony Rowley - Jakarta lauded for decisive reforms, which have boosted market confidence in its economic programme By Anthony Rowley btworld@sph.com.sg Tokyo INDONESIA’S decision to cut fuel subsidies in the wake of the oil-price plunge will free up financial resources for infrastructure building and otherPHOTO: REUTERS - 523 words
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360 2015-01-14 19 REUTERS Bangkok THAILAND’S military government is selling 100 billion baht (S$4 billion) of savings bonds aimed at small investors, who have shown a slow initial response to an issue that will help finance a budget deficit and a state rice-buyingREUTERS - 360 words
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568 2015-01-14 19 AFP London BRITISH inflation dived in December to a record-low level on sliding oil prices, data showed on Tuesday, sparking deflation fears and dampening the prospect of interest rate hikes any time soon. The 12-month Consumer PriceAFP - 568 words
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Article, Illustration662 2015-01-14 19 REUTERS Hong Kong HONG Kong leader Leung Chun-ying is expected to focus on property, the economy and youth issues in his policy address on Wednesday, seeking to bolster support after last year’s massive pro-democracy protests and widespread calls for him toREUTERS - 662 words
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688 2015-01-14 19 BLOOMBERG Athens GREECE could stumble out of the euro by accident if a new government fails to reach an agreement with international creditors soon after this month’s election, Finance Minister Gikas Hardouvelis said. The main challenge facing whichever government emerges from theBLOOMBERG - 688 words
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240 2015-01-14 19 REUTERS Beijing CHINA’S ruing Communist Party sacked a senior lawmaker who was under investigation for graft, China’s anti-corruption commission said on Tuesday, the latest in a series of corruption cases against high ranking political and business figures. Bai Enpei, formerly the party bossREUTERS - 240 words
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Article, Illustration839 2015-01-14 20 Workers, jobseekers getting more optimistic, and will start seeking bigger pay increases: survey BLOOMBERG Washington THE bigger wage gains that have so far eluded American workers probably will begin to materialise this year as the job market tightens, accordingBLOOMBERG; PHOTO: AFP - 839 words
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574 2015-01-14 20 AFP Paris THE cover of the first edition of the French satirical weekly Charlie Hebdo since its staff were murderously attacked by Islamist gunmen last week shows a cartoon of the Prophet Mohammed crying and holdingAFP - 574 words
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722 2015-01-14 20 AFP Washington THE White House acknowledged on Monday it should have sent a senior official to the massive rally against terrorism in Paris, as President Barack Obama came under fire for failing to travel to France. “We should have sentAFP - 722 words
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630 2015-01-14 20 BLOOMBERG Tokyo JAPANESE bonds rose in the latest leg of a worldwide surge in government securities, with five-year yields matching Germany’s at zero per cent, as tumbling oil costs indicate inflation will slow. The effective yield on the Bank of America Merrill LynchBLOOMBERG - 630 words
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Article, Illustration294 2015-01-14 20 REUTERS Tokyo JAPAN’S government agreed on Tuesday to use revenue from a sales tax increase to boost welfare spending in the coming fiscal year to help citizens in its rapidly ageing society cope with higher costs. Prime Minister Shinzo Abe’s governmentREUTERS; PHOTO: BLOOMBERG - 294 words
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TRANSPORT
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954 2015-01-14 21 DAVID HUGHES - The newly launched Enclosed Space Management System seems like an immensely useful innovation STRAIT TALK BY DAVID HUGHES EVERY year, seafarers get killed in enclosed spaces and so do others trying to rescue them. Former ship’s master Michael Lloyd has been campaigning954 words
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Article, Illustration786 2015-01-14 21 BLOOMBERG Seoul SOUTH Korean shipbuilders, last year’s biggest stock-market losers, are the most popular target for short sellers in 2015 as falling crude hurts oil-rig demand. Bearish wagers used borrowed stock against Hyundai Mipo Dockyard Co rose to 7.3 per cent of sharesBLOOMBERG; PHOTO: AFP - 786 words
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309 2015-01-14 21 REUTERS New York UNITED Airlines is assessing whether to outsource jobs at airports around the United States in a cost-cutting effort that could impact 2,000 workers. The Chicago-based carrier informed employees on Monday that jobs up for review included baggage handlersREUTERS - 309 words
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453 2015-01-14 21 BA owner may hike offer to as much as 2.50 euros a share as early as this week BLOOMBERG London BRITISH Airways (BA) owner IAG SA is planning to increase its offer for Aer Lingus Group plc after the Irish carrier rebuffed previousBLOOMBERG - 453 words
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426 2015-01-14 21 BLOOMBERG Los Angeles A PORT slowdown and eight months of fruitless labour talks with longshoremen have brought West Coast port congestion to the point of a breakdown, according to representatives of shipping companies. Backups at the fiveBLOOMBERG - 426 words
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Article, Illustration486 2015-01-14 22 Nisha Ramchandani - Under CAI management, King Fahd airport in Dammam has grown in volume and revenue By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore CHANGI Airports International (CAI) has landed a seven-month extension to continue managing and operating the King Fahd International Airport (KFIA)486 words
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Article, Illustration110 2015-01-14 22 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore BRAZILIAN plane-maker Embraer is showcasing the cabin mock-up of its new E-Jets E2 family at Seletar Aerospace Park for two weeks as part of a worldwide tour. In June 2013, Embraer launched the second generation of110 words
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626 2015-01-14 22 AIRASIA CRASH AFP REUTERS Pangkalan Bun, Indonesia INDONESIAN divers on Tuesday retrieved the cockpit voice recorder from beneath the wreckage of an AirAsia plane that crashed into the Java Sea as the airline’s boss vowed to overcome the “toughest times” he hasAFP; REUTERS - 626 words
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738 2015-01-14 22 Modifications will help to make it easier to locate them in an air crash at sea AFP Paris LONG-HAUL Airbus A350 and A380 passengers jets will soon come equipped with ejectable black boxes that can float, making them easier toAFP - 738 words
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Page 22 Advertisements
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Advertisement27 2015-01-14 22 www.omy.sg siggH ■EftS: mm sbsss GAIGIAH BLUES *hjr EXISTS Gangnam I FineBlues ThankYou. Love You snowDiz.om iy.sg Download omy Apps Sifts 0 omy Showbiz iOSAppStore Google Play27 words
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Advertisement18 2015-01-14 22 K v K fORNNOWtN WTWtM°W®® w ACCORDING TO AC NIELSEN RADIO SURVEY. WAVE 2,2014 V n facebook.com/kiss92fm www.kiss92.sg18 words
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1905 2015-01-14 23 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 4/21,905 words
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Page 23 Advertisements
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Advertisement107 2015-01-14 23 Experienced shf p 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 s^3marftime.coM Ahoy there! If you are in a business pertaining to any sector107 words
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OPINION
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591 2015-01-14 24 2015 will be a crucial year for Indian Prime Minister Narendra Modi’s reputation as a reformer. During his first six months in office, Mr Modi has made some progress on the policy front, unveiling a number of initiatives such591 words
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Article, Illustration789 2015-01-14 24 Frank Ching - The government’s credibility is at perhaps its lowest point, with the administration seen as telling another untruth while ostensibly trying to set things straight. THE BOTTOM LINE By Frank Ching T The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1789 words
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Article, Illustration1282 2015-01-14 24 ALISTAIR BURNETT - To be sure, governments have used soft power to influence other states, but several instances of brute military force have played out recently, to varying degrees of success.BY ALISTAIR BURNETT success.BY ALISTAIR BURNETT T The writer is editor of The World Tonight, a BBCPHOTO: REUTERS - 1,282 words
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948 2015-01-14 25 Guy Harvey-Samuel - The renminbi is now the world’s seventh largest payment currency in value. COMMENTARY By Guy Harvey-Samuel T The writer is Group General Manager and CEO of HSBC Singapore WHEN the historians of the future look back, 2014 will go down as the year948 words
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556 2015-01-14 25 Beat Monnerat - By Beat Monnerat T The writer is Accenture’s senior managing director of financial services for Asia Pacific EARLY in the new year, it is natural to forecast what lies ahead for the investment banking industry. There are opportunities on the horizon waiting556 words
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273 2015-01-14 25 Christie Loh - LETTER TO THE EDITOR Christie Loh I REFER to the editorial “Fees remain a problem even with smaller SGX lot sizes” (BT, Jan 13) and wonder once again why the press continues to ignore the economics of doing business. Isn’t the273 words
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Article, Illustration1382 2015-01-14 25 Leon Hadar - With its long migrant history, the US has less of a Muslim immigrant versus non-Muslim immigrant polarisation By Leon Hadar WHEN Osama bin Laden was planning to attack the United States he decided not to recruit Muslim Americans for the terroristPHOTO: REUTERS - 1,382 words
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LIFE & CULTURE
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677 2015-01-14 26 Gala concert to mark Wednesday opening of 386m euro La Philharmonie AFP Paris PARIS is known for its many Belle Epoque cultural landmarks ornate museums, gilded theatres, the stately Eiffel Tower. But its brand-new concert hall opening on Wednesday undoubtedly comes from a differentAFP - 677 words
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Article, Illustration379 2015-01-14 26 AFP Miami A COMPUTER program that analyses your Facebook “likes” may be a better judge of your personality than your closest friends and family, according to research findings released on Monday. The study in the Proceedings of the National Academy of Sciences wasAFP; PHOTO: AFP - 379 words
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298 2015-01-14 26 AFP New York US chemical giant DuPont is getting ready to take its bow from musical theatre. The chemical company said on Monday it will sell a 100-year-old company-owned theatre, four months after shareholder activists highlighted the asset as an example of DuPont’sAFP - 298 words
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Article, Illustration415 2015-01-14 26 REUTERS Paris REPRESENTATIVES of the Paris tourist industry will set off on a world tour next month to reassure visitors and agents that the French capital is safe and open for business after last week’s fatal shootings by militants. France, whichREUTERS; PHOTO: REUTERS - 415 words
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Article, Illustration521 2015-01-14 26 Designer Galliano is back to rave reviews AFP London ALMOST four years after being banished from the Paris fashion world over an anti-Semitic rant, designer John Galliano made his comeback in London for Maison Margiela on Monday to overwhelming critical acclaim. The 54-year-old, seen as one of the most brilliantAFP; PHOTO: AFP - 521 words
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Page 26 Advertisements
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Advertisement16 2015-01-14 26 Three months bonus on averagefor 400 unionised companieshere To subscribe, call 6388-3838 or go to sphsubscription.com.sg16 words
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Page 26 Miscellaneous
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Miscellaneous317 2015-01-14 26 CRYPTIC CROSSWORD Across 1 He organises room with satchels scattered (12) 9 One showing skill that’s welcome in booze-up (9) 10 Amphitheatre gripped by warfare, naturally (5) 11 Oust terrible aunts, embracing Bertie finally (6) 12 One floats along ocean, capsizing first? (8) 13 Hypocrisy of Church restrained by infinite317 words
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EXECUTIVE MONEY
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Article, Illustration1154 2015-01-14 27 Ng Soo Nam - High-quality rather than high growth could spell a prolonged period for harvesting equity returns By Ng Soo Nam T The writer is head of Asian Equities for Threadneedle investments Singapore (Pte) Ltd SINCE the beginning of 2014, I have been alerting investors toPHOTO: REUTERS - 1,154 words
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472 2015-01-14 27 ON THE RADAR GLOBAL mutual funds were net buyers of Singapore stocks in the three months to Jan 7. Based on aggregate transactions for the top five stocks, there were net purchases of S$838.4 million, compared to net sales of S$709.3 million. This472 words
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978 2015-01-14 27 NYT New York ONE of the biggest events in an eventful fourth quarter of 2014 may have been something that didn’t happen. As crude oil prices plunged during the period, investors counted on Saudi Arabia to announce a production cut to support theNYT - 978 words
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Page 28 Advertisements
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Advertisement1421 2015-01-14 28 A Special Feature Presented By Zitigold Private Client THE ECONOMY IN PERSPECTIVE Prospects 2015: Will Disinflation Trigger Policy Easing? In the first of a three-part "The Economy in Perspective" weekly series beginning this week, Citi's Kit Wei Zheng shares his views on the prospects of Singapore, covering the performance of1,421 words
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