The Business Times, 31 January 2015

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Microfilm: NL33340
Total Pages: 40
1 32 The Business Times
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      82 1 THE BUSINESS TIMES WEEKEND JANUARY 31 FEBRUARY 1, 2015 LivingBT CARTIER TIME'S A-CHANGING Luxury watchmakers put up a sober front at the Salon International De La Haute Horlogerie 2015 L2-4 DESIGN The National Gallery: Monuments rebornL10-11 ILLUSTRATION OF CARTIER CRASH SKELETON BY LUDWIG ILIO DINING Take away a feast L6-8
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  • BT Living
    • WATCHES
      • Article, Illustration
        Lock icon TIME’S A-CHANGING
        2407 2 / 3  -  A quiet mood prevailed at the Salon International De La Haute Horlogerie 2015 in Geneva last week. Luxury watchmakers put up a sober front, pruning away excess and offering new lines at more accessible prices. Innovations were few and far between, while the minute repeater appeared to be
        2,407 words
    • DINING
      • Article, Illustration
        Lock icon TAKE AWAY A FEAST
        1090 6 / 7  -  The Chinese New Year reunion dinner does not have to be an assembly-line restaurant affair with draconian time limits. A growing number of takeaway options means you can enjoy your family get-together at home. BT Weekend helps you to choose your menu. By Tay Suan Chiang,
        1,090 words
      • Article, Illustration
        Lock icon Young chefs vie to represent S-E Asia
        514 8  -  By Rachel Loi rachloi@sph.com.sg @RachelLoiBT NEXT Thursday, 10 young chefs from South-east Asia will face one another in a cook-off to determine who gets to represent the region in the finals of the San Pellegrino Young Chef 2015 competition a global search for
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      • Article
        Lock icon wine&dine
        863 8 with BTWeekend Marina Mandarin Singapore 6 Raffles Boulevard, Level 5 Z6845-1018 Chinese New Year Goodies Chinese New Year Goodies are now available for takeaway at Peach Blossoms. Enjoy Marina Mandarin xi qi yang yang Yu Sheng, Pumpkin Cake with Shredded Yam, Supreme Braised Buddha Jumps Over the Wall and
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      • Article, Illustration
        Lock icon With a golden hand
        906 9  -  Thailand’s first celebrity chef Ian Kittichai does not let fame go to his head. By Tay Suan Chiang guest chef By Tay Suan Chiang taysc@sph.com.sg @TaySuanChiangBT HE IS Thailand’s first celebrity chef, but Ian Kittichai says: “I’m less a celebrity and more a chef.” Chef Kittichai
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      • Article, Illustration
        Lock icon Blue swimmer crab and pomelo salad
        130 9 Serves one Ingredients 80g pomelo flesh 2 orange segments, peeled and halved 40g crab meat, shredded 5g young ginger, peeled and bruised 1/4 lemongrass stalk (tender portion), chopped 1/2 shallots, peeled and finely chopped 1/4 red chili, finely chopped 2 tbsp palm sugar 1
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    • DESIGN
      • Article, Illustration
        Lock icon Monuments reborn
        1188 10 / 11  -  The City Hall and former Supreme Court buildings are undergoing refurbishment to reopen as the National Gallery Singapore in November. BT Weekend takes a peek at the work-in-progress. By Tay Suan Chiang By Tay Suan Chiang taysc@sph.com.sg @T aySuanChiangBT IT is 10 more months to the opening of
        PHOTOS: YEN MENG JIIN; ARTIST’S IMPRESSION: NATIONAL GALLERY SINGAPORE  -  1,188 words
    • HOME & GARDEN
      • Article, Illustration
        Lock icon Evolving around the Mothership
        1016 12 / 13  -  With their ‘living organism’ chandelier and work-in-progress ambience, the Thongs’ home is unique and distinctly their own. By Arthur Sim personal space By Arthur Sim IT IS always a good idea to have a couple of accent pieces mixed in with the general design scheme of
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    • MOTORING
      • Article, Illustration
        Lock icon X-TRA SPORTY
        646 14  -  The big and tall BMW X6’s best attribute is its handling. By Samuel Ee samuelee@sph.com.sg NOW that everyone has got used to the way the BMW X6 looks, it seems the German luxury manufacturer has left the exterior styling untouched to concentrate instead on the interior for the
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      • Article, Illustration
        Lock icon This number for a good time
        704 15  -  The 308 has a small engine but unexpectedly good performance. By Samuel Ee By Samuel Ee samuelee@sph.com.sg IF the new Peugeot 308 had any skin or teeth, they would definitely be involved in its COE categorisation. Because with its turbocharged petrol engine producing 129
        704 words
    • SPORTS
      • Article, Illustration
        Lock icon EPL’s top two on collision course
        867 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Correspondent THERE is simply no rest for the weary, especially in a sport as demanding as football, as English Premier League (EPL) leaders Chelsea will soon find out. Jose Mourinho will lead his men out at Stamford
        PHOTOS: REUTERS, ACTION IMAGES  -  867 words
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      86 12 / 13 ucr Preserving Health and Longevity HEART, STROKE CANCER CENTRE Worried about Bk \v» I Heart Attack? m CT Coronary Angiogram at $399* CALL (+65) 6881 8811 FOR YOUR APPOINTMENT TODAY The abovementioned price is not inclusive of CT IV contrast. Kindly present this during your visit. HEART, STROKE CANCER CENTRE
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  • TOP STORIES
    • MARKETS
      • Article
        Lock icon STOCKS
        59 2 HSTI 3,391.20 (-27.85) HSTI FUTURES 3,390.00 (-29.00) HSIMSCI 380.23 (-2.50) HSIMSCI FUTURES 380.20 (-2.80) STOCKS Friday Change KL COMP 1,781.26 -0.92 NIKKEI 225 17,674.39 +68.17 HANG SENG 24,507.05 -88.80 SET 1,581.25 -5.15 JAKARTA 5,289.40 +26.69 MANILA 7,689.91 +72.61 KOSPI 1,949.26 -1.76 SHENZHEN B 1,070.04 +3.48 MUMBAI IND 29,182.95 -498.82
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.35 MALAYSIA 6.85 HONG KONG 5.00 INDONESIA 14.424 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.85 SWITZERLAND 0.50 INDIA 14.75 Source: Bloomberg
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        Lock icon FOREX
        49 2 US$ S$ US$ (S$ per US$) 1.350 (US$/S$ per 1.507 2.036 EURO (US$/S$/€ 1.134 1.531 Foreign currency per US$ S$ YEN 117.90 87.30 RM 3.625 2.684 HK$ 7.752 5.740 BAHT 32.71 24.22 RUPIAH 12,650 9,367 RENMINBI 6.248 4.626 INDIAN RUPEE 61.79 45.76 A$ 1.286 0.952 NZ$ 1.374 1.017
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    • Article, Illustration
      Lock icon More redundancies in 2014 due to restructuring
      674 2  -  Increase in layoffs stems primarily from the services sector By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore RESTRUCTURING pains continue to bite, with more workers laid off in 2014 than the year before. Still, labour market conditions remain tight unemployment averaged just 2 per cent
      Source: Labour Market Survey, MOM  -  674 words
    • Article
      Lock icon Q4 GDP growth slows on weak business spending
      312 2 LATEST US DATA Reuters Washington US economic growth slowed sharply in the fourth quarter as weak business spending and a wider trade deficit offset the fastest pace of consumer spending since 2006. Gross domestic product (GDP) expanded at a 2.6 per cent
      Reuters  -  312 words
    • Article, Illustration
      Lock icon Malaysian tycoon to help 1MDB repay loan
      762 3  -  Ananda Krishnan is said to have agreed to lend firm RM2b to settle its debt obligation to Maybank and RHB Bank By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore THE deal that was trumpeted as a mark of Malaysian tycoon Ananda Krishnan’s corporate prowess when
      PHOTO: THE STAR  -  762 words
    • Article, Illustration
      Lock icon AirAsia X plans rights issue, overhauls management
      350 3  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore LONG-HAUL budget carrier AirAsia X which is planning to raise some RM395 million (S$146.97 million) via a rights issue has appointed new senior management, confirming reports earlier this week that chief executive Azran Osman-Rani was on his
      PHOTO: BLOOMBERG  -  350 words
    • Article
      Lock icon Correction
      49 3 IN “Tuan Sing’s Q4 profit dips 4% to S$24.3m” (BT, Jan 30), we wrongly reported that Tuan Sing’s share of results of equity accounted investees was a bigger loss of S$20 million, from 2013’s S$14.8 million. It should be a bigger profit. We are sorry for the error.
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      Lock icon Manufacturing, services firms downbeat on H1 outlook
      440 4  -  Companies in the transport engineering cluster were the least optimistic By Prisca Ang prisang@sph.com.sg Singapore THE recent slump in global oil prices has weakened expectations of many manufacturing firms as they anticipate a fall in revenue. According to results of the latest government
      FILE PHOTO  -  440 words
    • Article
      Lock icon Bill passed to ban late-night alcohol sale, consumption
      491 4  -  IN PARLIAMENT By Malminderjit Singh msingh@sph.com.sg @MalminderjitBT Singapore PARLIAMENT passed a law on Friday to ban the sale and consumption of alcohol in public areas between 10.30pm and 7am to control the negative consequences of public consumption of alcohol in Singapore. Second
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      Lock icon Govt will help but SMEs must actively seek growth opportunities
      320 4  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore THE government will continue to provide strong support for restructuring. Meanwhile, companies have to actively seek growth opportunities through innovation and internationalisation. Speaking at the 28th annual Singapore 1000, SME 1000, and Singapore International
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    • Article, Illustration
      Lock icon Cortina wows with S$4m investment
      469 5  -  Its Patek Philippe boutique in Taipei is the world’s biggest, with China tourists the main target By Chuang Peck Ming peckming@sph.com.sg Singapore IT cost Cortina Watch around S$4 million and nearly two years of planning to get the world’s biggest Patek Philippe boutique up and
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    • Article, Illustration
      Lock icon Singtel sets up streaming video venture
      918 6  -  It partners Sony Pictures Television and Warner Bros Entertainment; regional rollout to start from this quarter By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore SINGTEL has teamed up with Sony Pictures Television and Warner Bros Entertainment to establish a startup that will stream the best
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    • Article
      Lock icon SIT, SMF ink pact to upgrade manufacturing manpower capabilities
      226 6  -  By Mindy Tan tan m i n dy@s p h .co m .sg @MindyTanBT Singapore THE Singapore Institute of Technology (SIT) and the Singapore Manufacturing Federation (SMF) have signed a Memorandum of Understanding (MOU) to enhance SIT students’ career opportunities and
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    • Article
      Lock icon Japan Dec jobless rate falls to lowest since ’97
      582 7  -  Tightening labour markets point to upward pressure on wages and inflation By Anthony Rowley btworld@sph.com.sg Tokyo JAPAN’S unemployment rate fell last month to its lowest level since 1997, while job availability rose to its highest level in 22 years as labour
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    • Article
      Lock icon M’sian business sentiment down on falling ringgit, rising costs
      535 7  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur DENTED by the sharp depreciation in the ringgit and additional operating costs, Malaysia’s business confidence has gotten a bit wobbly. Increasing worries were made worse by the government’s recent move to introduce mandatory online services
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    • Article
      Lock icon 4 appointed to MPA board
      263 7  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore FOUR new members have been appointed to the Maritime Port Authority of Singapore (MPA) board by Transport Minister Lui Tuck Yew, the Ministry of Transport (MOT) said on Friday. They are: 45Carl Krogh Arnet, chief executive officer, BW Offshore;
      263 words
    • Article
      Lock icon Ex-navy chief to take over reins at CPF Board
      177 7  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore NG Chee Peng, currently deputy secretary (special projects) at the Ministry of Manpower, will take over as chief executive of the Central Provident Fund Board from March 15, 2015. He will succeed Yee Ping Yi,
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      50 2 CONTENTS NEWS Top Stories 2-7 Raffles Conversation 8-9 Companies Markets 10-14 Real Estate 15-16 Banking Finance 17 Energy Commodities 18 Technology 19 Consumer 20 Transport 21 Govt Economy 22-25 Opinion 26-27 Wealth 28-30 LIVING Watches L2-5 Dining L6-9 Design L10-11 Home Garden L12-13 Motoring L14-15 Sports L16 Life Culture 31
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      71 3 a Recipe For 8 \cJ8s- n*s* Success? Call 9145 7056 for leasing enquiries The Grandstand might just be the perfect place for you! The newest and biggest family lifestyle destination in Bukit Tim ah is set to pique patrons’ appetites with a host of F&B offerings, and yours could be
      71 words
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  • Page 5 Miscellaneous
    • Miscellaneous
      Lock icon Page 5 Miscellaneous Column 1
      79 5 SINGAPORE —SWEEP— 1 ST PRIZE $2,300,000 2 nd p R ZE 3 rd PRIZE $500,000 $250,000 9 sets of 2D winning numbers (315,000 prizes, each $6) i r* SS FIRST eS-l VV 2.; -'i x Singapore —SWEEP— 5 OS2.3M1LL10N V 5 h,b r~A Tote Board lamilY supports Garden* t»y the
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  • RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon How to do well by doing good
      2481 8 / 9  -  As president of the Massachusetts Institute of Technology, Rafael Reif upholds a firm belief in using one’s huge talents for a larger purpose. By Kenneth Lim By Kenneth Lim kenlim@sph.com.sg@KennethLimBT WHAT is better? When you have the power to influence one of the
      PHOTO: MIT  -  2,481 words
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  • COMPANIES & MARKETS
    • Article
      Lock icon M&A, low-oil winners lift January market cap by 2.2%
      589 10  -  Price changes were the main factor, with no new listings so far By Kenneth Lim kenlim@sph.com.sg @KennethlimBT Singapore THE value of Singapore’s stock market rose for the third month in a row with low-oil beneficiaries and real estate counters leading the
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    • Article
      Lock icon Perennial leads consortium to acquire AXA Tower for S$1.17b
      388 10  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore PERENNIAL Real Estate Holdings Limited (PREH) has syndicated a consortium of investors to acquire AXA Tower at a property purchase price of S$1.17 billion, translating to S$ 1,735 per square foot (psf) of net lettable
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    • Article
      Lock icon Investors seek 8.2% returns but raise cash holdings: survey
      514 10  -  By Genevieve Cua gen@sph.com.sg @GencuaBT Singapore SINGAPORE investors expect average investment returns of 8.2 per cent in 2015, but they risk disappointment as they continue to hold high levels of cash, a survey by Manulife has found. Although investors expect equities
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      Lock icon Reits retreat as Fed statement raises rate fears
      720 11  -  STOCKS R Sivanithy sivan@sph.com.sg @RSivanithyBT Senior Correspondent THERE were two events this week worth discussing the US Federal Reserve’s first Federal Open Market Committee (FOMC) meeting of 2015 and the Monetary Authority of Singapore’s (MAS’s) move on the currency front to reduce
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    • Article
      Lock icon Singapore banks able to hold up against property correction: Fitch
      228 11  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THE property market correction in Singapore may place modest pressure on banking system loan quality but the three domestic banks OCBC, DBS and UOB should be able to withstand this, Fitch Ratings said in
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    • Article
      Lock icon Tax writeback boosts Global Premium’s Q4
      355 11  -  By Kenneth Lim kenlim@sph.com.sg @KennethlimBT Singapore GLOBAL Premium Hotels undid previous years’ over-provision-ing for taxes in the fourth quarter, helping the hotel developer to post a 61 per cent gain in net profit despite a slowdown at an operational level. Global Premium, which runs
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    • Article
      Lock icon STI STOCKS
      306 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 246 -3 248/243 263 206 5.8 6219.7 CapitaLand 348 -6 355/348 364 268 17.4 2.3 ***** CapitaMall Trust 209 xd -2 215/209 226 180 5.2 7248.7 CityDev 1005 -17 1018/1005 1118 860
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    • Article
      Lock icon SGX ETFs Most Active
      111 12 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS ASIA HYG US$ US1059 +8 1233 1062/1059 1119/1013 1052/1059 STI ETF 341 xd -4 482 344/341 349/298 340/341 IS MS India US$ US797 -9 430 810/794 1000/541 796/797 99.6 IS Asia BND US US1078 +16
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    • Article
      Lock icon SIBOR
      31 12 Jan 30 (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
      790 12 For week beginning Jan 26 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) Rex Intl 26-Jan-15 FIL Ltd *Buy 721 0.39 *****7 7.99 *****8 8.04 AIMS AMP Capital Ind 23-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 9 3 4 0 0 0 9 3 4 Manufacturing 47 47 38 7 6 14 54 53 52 Commerce 18 21 21 6 2 8 24 23 29 Tpt/Stor/Comms 14 13 11
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 12 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 43,769 43,769 181,288 181,288 Manufacturing 360,612 55,467 416,079 131,910 3,991 135,901 Commerce 83,007 40,440 123,447 112,710 2,888 115,599 Tpt/Stor/Comms 193,725 242 193,967 308,770 77 308,847 Finance 35,044 20 35,064 371,711 5 371,716 Construction 31,462 6,904
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      Lock icon OTHER SINGAPORE INDICES
      77 12 Jan 30 VALUE CLOSE BT OB/OS 401.00 +160.00 BT CADI -*****.00 -8.00 BT 10-day MA -*****.00 +40.00 FTSE ST Mid Cap 783.39 -2.89 FTSE ST Small Cap 504.34 -0.54 FTSE ST All Share 817.18 -5.74 FTSE ST China Top 196.24 -1.18 FTSE ST China 233.62 -3.13 FTSE
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    • Article
      Lock icon UNUSUAL ACTIVITY
      81 12 VOL CLOSE($) CHANGE UniFiber System 13,833.2 0.010 +0.003 +42.86 Novo 440.3 0.320 +0.090 +39.13 Amplefield 14,851.0 0.008 +0.002 +33.33 Hoe Leong 7,381.2 0.063 +0.006 +10.53 Techcomp 22.5 0.235 -0.015 -6.00 PNE Micron 30,214.6 0.053 +0.004 +8.16 Epicentre 231.0 0.150 +0.016 +11.94 Chinese Global 60.0 0.005 -0.001 -16.67 Pacific
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    • Article
      Lock icon COMMODITY FUTURES
      192 13 Jan-29 Price Net change change Last Trade Agricultural Jan-29 CBOT Soybeans (US cents/bu) 968.25 -2.00 -0.21% 13/03/2015 CBOT Soybean Oil (US cents/lb) 29.54 -0.80 -2.64% 13/03/2015 CBOT Wheat (US cents/bu) 507.75 2.50 0.49% 13/03/2014 Jan-29 LIFFE Cocoa (£/tonne) 1900.00 -2.00 -0.11% 16/03/2015 LIFFE Coffee (US$/tonne) 1921.00 -42.00 -2.14%
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    • Article
      Lock icon PALM OIL
      57 13 Jan 30 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Feb 15 2117.0 2154.0 2144.0 2117.0 249 1874 Mar 15 2121.0 2150.0 2155.0 2115.0 2639 ***** Apr 15 2118.0 2146.0 2148.0 2106.0 ***** ***** May 15 2107.0 2132.0
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      Lock icon GOVERNMENT SECURITIES
      69 13 Jan 30 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 103.3 103.37 103.35 5-Year N*****0H 1.625 01-Oct-19 101.14 101.30 101.20 10-Year NY*****H 3.000 01-Sep-24 109.78 110.15 109.72 15-Year NY*****E 2.875 01-Jul-29 108.01 108.35 108.08 20-Year NZ*****V 3.375 01-Sep-33 116.6
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 13 Jan 30 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0495 1.0508 0.7773 0.7780 Canadian dollar 1.0678 1.0687 0.7912 0.7908 Euro 1.5303 1.5312 1.1334 1.1336 NZ dollar 0.9824 0.9836 0.7276 0.7282 Sterling pound 2.0349 2.0362 1.5071 1.5075
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    • Article
      Lock icon BONDS, WARRANTS, PREFERENCE SHARES
      205 13 Jan 30 Most active Prem Expiry Last Vol Conv Exer Disc Gear-Mths Company Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 4.1 0.2 ***** 1 18 21 OCBC Bk MB eCW*****3 6.2 -0.1 5179 0.2 1060 3 DBS MB eCW*****2 8.7 -0.2 4811 0.1 0
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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 29 Index Change Change Change Change Change Change World Preliminary 1270.8 -0.1 -0.4 -0.4 0.4 -0.4 -1.6 EAFE Preliminary 1019.9 -0.1 3.3 -0.7 3.0 -0.6 1.0 Europe Preliminary 1442.8 0.3 4.4
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    • Article, Illustration
      Lock icon STOCK MARKETS
      2 13
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    • Article
      Lock icon Ascott makes first foray into Turkey
      413 14  -  It clinches deal to manage the 159-unit Somerset Maslak Istanbul, slated to open in 2016 By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore THE Ascott CapitaLand’s wholly owned serviced residence business unit on Friday said it has secured a contract to manage its first serviced residence
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    • Article
      Lock icon Feels like dot-com days again: Fidelity
      571 14  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore AS capital continues to gain an edge over labour and profit margins stay high, the bull market in stocks, notably the US, shows no sign of stopping, said Dominic Rossi, Fidelity’s global chief investment officer for equities. The
      571 words
    • Article
      Lock icon Shareholder nod not needed in Keppel Corp bid: SGX
      221 14  -  LETTER TO THE EDITOR June Sim Head, Listing Compliance Singapore Exchange WE refer to Andrea Soh’s article, “Better if Keppel has shareholders’ nod for KepLand bid: observers” (BT, Jan 27). The article contained an inaccuracy which the Singapore Exchange (SGX) would
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    • Article
      Lock icon Ezra bags deals worth more than US$65m
      197 14  -  By i Malminderjit Singh msingh@sph.com.sg @MalminderjitBT i i Singapore OFFSHORE services provider Ezra Holdings announced on Friday that its subsea services division, EMAS AMC, has secured multiple contracts from various energy companies valued at more than US$65 million (including options). The awards, which
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Park Ave to get first new tower in decades
      1347 15 Norman Foster-designed skyscraper more than double the height will replace existing one at prime New York site Bloomberg New York SOME time next week, a metal frame will go up around the blocky brick tower at Manhattan’s 425 Park Ave, designed
      Bloomberg; PHOTO: BLOOMBERG  -  1,347 words
    • Article
      Lock icon Househunt
      961 16 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN DEC 17 AND DEC 23, 2014 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 11 NON-LANDED Montebleu Apt 17/12/2014 FH 1475 2065 1400 Suites Surrey Apt 23/12/2014 FH 893 1230
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon RBI urges companies to hedge FX exposure
      685 17 India’s central bank seeks to shield the rupee, Asia best performing currency, from global financial seismic shifts Reuters Mumbai INDIA’S central bank is making extra efforts to spur the country’s corporates to more actively hedge their foreign exchange exposure, in order to fortify
      Reuters; PHOTO: BLOOMBERG  -  685 words
    • Article
      Lock icon Deutsche Bank back in the black in Q4
      571 17 NYT Frankfurt DEUTSCHE Bank, the largest German bank, said on Thursday that it returned to profit in the fourth quarter of 2014, as revenue in the investment banking unit rose and the bank set aside less money to cover legal problems. Shares
      NYT  -  571 words
    • Article
      Lock icon RBS reviewing global footprint
      185 17 Reuters Dubai ROYAL Bank of Scotland (RBS) plans to sell or close its corporate debt and debt capital markets business in the Middle East and Africa, the latest pullback by the state-controlled lender from emerging markets to focus on its domestic business. The lender, 81 per
      Reuters  -  185 words
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Investors lured back to gold after surprise rally
      372 18 Bloomberg New York GOLD’S longest rally in two years is spurring investors to return to precious metals just as signs emerge that the gains may be petering out. US exchange-traded products backed by precious metals took in US$1.9 billion this month through
      Bloomberg; PHOTO: REUTERS  -  372 words
    • Article
      Lock icon Shell ‘optimistic’ on US refinery contract talks
      327 18 Union not as optimistic, prepared for possible strike Reuters Houston LEAD industry negotiator Royal Dutch Shell Plc said on Thursday that it was “optimistic” a new three-year agreement could be reached with a union representing hourly workers at 63 US refineries that account
      Reuters  -  327 words
    • Article
      Lock icon China private oil firms hit by SOE probes
      588 18 Bloomberg Singapore CHINA’S private oil service companies are paying the price in the bond market for graft probes involving state energy giants. The yield on the 2018 US dollar denominated bonds of Anton Oilfield Services Group Ltd, which helps drill oil wells,
      Bloomberg  -  588 words
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  • TECHNOLOGY
    • Article
      Lock icon Spending spree, strong dollar weigh on Google results
      683 19 Share of the online-ad market under pressure Bloomberg San Francisco GOOGLE Inc is ramping up spending to invest in new technologies and fend off competition on mobile devices, even as its maturing Web-advertising business posted quarterly profit and sales that fell short
      Bloomberg  -  683 words
    • Article, Illustration
      Lock icon Amazon Q4 profit beats estimates despite aggressive spending
      533 19 AFP San Francisco AMAZON surprised the market with a quarterly profit far better than anticipated for the online giant known for pouring money into projects such as original video programmes and delivery drones. “Amazon beat estimates even though Jeff Bezos is moving
      AFP; PHOTO: AFP  -  533 words
    • Article
      Lock icon Apple recruiting workers in six Chinese cities
      293 19 Bloomberg San Francisco APPLE Inc, aiming to more than double its stores in China, is advertising openings for retail workers in six cities where it currently doesn’t have any shops. The Cupertino, Califor-nia-based company is recruiting store workers in Chengdu, Guangzhou, Shenyang, Tianjin,
      Bloomberg  -  293 words
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  • CONSUMER
    • Article, Illustration
      Lock icon Hershey craves more consumers’ attention
      581 20 Lost impulse buys have slowed sales below expectation last year WP Washington ONLINE shopping, curbside pick-up and self-checkout aisles have made it quicker and easier than ever for Americans to buy the things that they need. That is a huge problem for the candy and
      WP; PHOTO: REUTERS  -  581 words
    • Article
      Lock icon Coach goes more full-price, less discount; Q2 profit tops forecast
      525 20 Bloomberg New York COACH Inc has posted second-quar-ter profit that exceeded analysts’ estimates as the struggling handbag maker worked to increase sales of full-priced items and reduce discounts as part of its turnaround plan. Excluding restructuring costs, earnings were 72
      Bloomberg  -  525 words
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  • TRANSPORT
    • Article, Illustration
      Lock icon Pilots cut power to critical systems: sources
      970 21 Action appears to have helped trigger Dec 28 events, when plane climbed abruptly before falling AIRASIA CRASH Bloomberg Jakarta THE pilots of AirAsia Flight 8501 cut power to a critical computer system that normally prevents planes from going out of control shortly before
      Bloomberg; PHOTO: AFP  -  970 words
    • Article
      Lock icon ANA, JAL see good year despite mixed results
      313 21 AFP Tokyo JAPAN’S two biggest airlines posted mixed nine-month results on Friday with All Nippon Airways (ANA) posting a 57 per cent rise in net profit as its international business took off, while rival Japan Airlines (JAL) saw its bottom line shrink.
      AFP  -  313 words
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Greek meltdown splits investors figuring Tsipras
      747 22 Bigger risk Greece will restructure its debt sooner, not later Bloomberg AFP Athens GREECE’S bondholders are back at the precipice and the difference between winning and losing comes down to the brinkmanship of the nation’s new leader. Bulls, whose ranks include Greylock Capital Management’s
      Bloomberg; AFP; PHOTO: REUTERS  -  747 words
    • Article
      Lock icon India GDP growth revised up by 50% after methodology change
      367 22 Reuters New Delhi INDIA’S economy grew almost 50 per cent faster in 2013/14 than earlier thought, the government said on Friday after changing a formula, a reminder of the challenges that unreliable statistics present to Indian policymakers. In the year
      Reuters  -  367 words
    • Article
      Lock icon European investment fund may be launched in September
      327 22 Reuters Frankfurt A FUND to bolster investment in Europe should be up and running by September, an EU official said on Friday, outlining the timetable for a highly leveraged scheme to bolster growth in a moribund EU economy. The European Fund for
      Reuters  -  327 words
    • Article, Illustration
      Lock icon Eurozone prices down 0.6% in January
      438 23 Slide worse than the 0.5 per cent decline expected Reuters Brussels EUROZONE consumer prices fell at a record-equalling pace in January, more steeply than expected and supporting the backers of the European Central Bank’s money-printing plan to combat sustained deflation. The European statistics office
      Reuters; PHOTO: REUTERS  -  438 words
    • Article
      Lock icon US in total ‘solidarity’ with Japan over hostage crisis
      587 23  -  By Anthony Rowley btworld@sph.com.sg Tokyo AS efforts continued on Friday to secure the release of Japanese journalist Kenji Goto, who is being held hostage by the Islamic State of Iraq and Syria (ISIS), Prime Minister Shinzo Abe received support from visiting
      587 words
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      Lock icon Russian central bank cuts interest rate by 2 points
      737 24 Move implies shift in priorities towards trying to support economic activity Reuters Moscow RUSSIA’S central bank unexpectedly cut its main interest rate on Friday as fears of recession mount in the country following the fall in global oil prices and Western
      Reuters; PHOTO: REUTERS  -  737 words
    • Article
      Lock icon Swiss leading economic indicator edges lower
      261 24 Reuters Zurich SWITZERLAND’S leading economic indicator edged lower in January, a survey showed on Friday, though the reading doesn’t yet reflect fallout from a surging Swiss franc after the Swiss central bank abandoned a cap on currency. The KOF Economic Barometer, which gives an
      Reuters  -  261 words
    • Article
      Lock icon China’s fiscal revenue growth slows in 2014
      328 25 Shrinking govt tax base is curbing scope for stimulus and onus may fall on central bank Bloomberg Beijing CHINA’S fiscal revenue increased the least in a generation last year, curbing the scope to stimulate demand. Government revenue rose 8.6 per cent in 2014,
      Bloomberg  -  328 words
    • Article, Illustration
      Lock icon Taiwan’s 2014 growth at 3-year high
      383 25 Reuters Taipei TAIWAN’S export-driven economy grew at its fastest pace in three years in 2014 fuelled by global demand for smartphones from Apple Inc and other technology goods, but there are risks that near-term growth could be undermined by a weakening global outlook. Gross
      Reuters; PHOTO: BLOOMBERG  -  383 words
    • Article
      Lock icon Beijing demands ‘secure and controllable’ tech for banks
      635 25 Reuters San Francisco DRAFT Chinese government regulation would force technology vendors to meet stringent security tests before they can sell to China’s banks, an acceleration of efforts to curb the country’s reliance on foreign technology that has drawn a sharp response from
      Reuters  -  635 words
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      Lock icon Page 23 Advertisements Column 1
      258 23 Enjoy 25% off your total food and beverage bill at Man Fu Yuan!(Promotional offer is valid for dinner only) Venue: Man Fu Yuan, Level 2, InterContinental Singapore, 80 Middle Road, Singapore *****6 Tel: (65) 6825 1008 Enquiries: intercontinental.dining@ihg.com Website: intercontinental.com/singapore About Man Fu Yuan at InterContinental Singapore Man Fu Yuan
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      61 24 HOT PROPERTY ORIG 2-STY SEMI-D Jln Haji Alias. 3633 sf/ 3121 sf approx, 4+1 rms. VICTORIA PARK VIEW, Brand new detached. Park 4 cars. Lift/ pool terr 5+1. 5000 sf. HILLTOP NEW BUNGLW! 1km Nanyang. 4900/ 5500 sf, 7+1. You can't miss this! View 1-6pm LANDED PROPERTIES FOR SALE Check
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  • OPINION
    • Article, Illustration
      Lock icon The business of creative industries
      1083 26 / 27  -  Sound strategy, company culture and a conducive ecosystem are necessary for a winning combination. By Mark Chong By Mark Chong ~The writer is associate professor of corporate communication at Lee Kong Chian School of Business, Singapore Management University Creative industries worldwide are an important driver
      PHOTO: AFP  -  1,083 words
    • Article, Illustration
      Lock icon Charlie Hebdo, writers and effecting change
      699 26 / 27  -  By Dennis Posadas ~The writer is a low-carbon-technology consultant and author of Greenergized (UK: Greenleaf, 2013) THE recent killing of satirists at Par-is-based Charlie Hebdo has ignited a maelstrom of discussion about free speech and its limits, particularly in this case in relation to
      PHOTO: REUTERS  -  699 words
  • Page 26 / 27 Miscellaneous
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  • Wealth
    • WEALTH INVESTING
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        Lock icon Asia’s hot, young hedge funds lead the charge
        1157 28 / 29  -  Global investors buy into the notion that Asia is a good alpha market. By Bei Hu Bloomberg Hong Kong SOME of Asia’s newer hedge funds were a magnet for investors last year. The assets of Oryza Capital and Pine River China Fund
        Bloomberg; PHOTO: AFP  -  1,157 words
      • BROKERS’ TAKE
        • Article
          Lock icon SMRT Corporation
          205 28 / 29 Buy OCBC Investment Research Jan 30 Jan 30 close: S$1.75 Target price: S$1.90 SMRT continued its recovery momentum with a set of solid Q3 FY15 results. Our view on SMRT’s outlook remains positive on several factors: 1) its ability to consistently manage expenses since Q1 FY15 reflects the
          205 words
        • Article
          Lock icon Genting Singapore
          118 28 / 29 Hold Maybank-Kim Eng Research Jan 30 Jan 30 close: S$1.08 Target price: S$1.13 What is interesting is that Marina Bay Sands’ (MBS) Q4 VIP volume was up 10 per cent quarter on quarter although Macau’s was down 8 per cent quarter on quarter. We attribute this to its
          118 words
        • Article
          Lock icon Singapore banks
          101 28 / 29 DMG Partners Research Jan 29 MAS’s easing of monetary policy coupled with the strengthening USD would see a shift towards SGD funding. Given the tightening domestic liquidity, we believe short-term rates would remain on an uptrend ahead of US rate hikes from mid-2015. We expect a gradual improvement
          101 words
        • Article
          Lock icon OUE Hospitality Trust
          212 28 / 29  -  Compiled by Jamie Lee Buy DBS Group Research Jan 29 Jan 30 close: S$0.935 Target price: S$1.02 OUE Hospitality Trust (OUEHT) should benefit from a recovery in tourist arrivals this year and the impact of newly refurbishment rooms. Nevertheless, there may be some short-term volatility in Q1
          212 words
      • Article, Illustration
        Lock icon Old Masters lag postwar artists
        1077 30 Contemporary art pulls in the big spenders while the Old Masters fail to draw art collectors with deep pockets Bloomberg New York THAT US$3 million Caravaggio is looking like a bargain compared to a US$81.9 million Andy Warhol. This week at the Old Masters sales
        Bloomberg; PHOTOS: SOTHEBY’S, AFP  -  1,077 words
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon WTA prize raised to S$7m
      612 31  -  Racquet Club VIP hospitality tickets go on sale By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore WHEN the world’s top female tennis players return to Singapore for their sea-son-ending championships this October, they will have their eyes fixated on a record prize purse that has now ballooned
      PHOTO: WORLD SPORT GROUP  -  612 words
    • Article, Illustration
      Lock icon Renowned ‘Thorn Birds’ author dies
      193 31 AFP Sydney TRIBUTES for renowned Australian author Colleen McCullough, whose romantic saga The Thorn Birds sold more than 30 million copies, poured in on Friday from the publishing world to politics following her death at the age of 77. The best-selling writer, known for her
      AFP  -  193 words
    • Article, Illustration
      Lock icon Ringo Starr set for new album, tour
      208 31 AFP New York EX-BEATLE Ringo Starr is set for the Rock and Roll Hall of Fame, but first he plans a new album and tour of the United States and Latin America. The drummer for the Fab Four announced on Thursday the release
      AFP  -  208 words
  • Page 31 Miscellaneous
    • Miscellaneous
      Lock icon Page 31 Miscellaneous Column 1
      334 31 CRYPTIC CROSSWORD Across 1 Certainly upset, due to spy in bed (6,7) 9 Humiliated, Charlie stepped on the gas (9) 10 Pal shot on a motorway (5) 11 Go in with answer for new consumer (5) 12 Proclaim a moratorium, arresting a leader of prayers (4) 13 Eject leaders of
      334 words
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      Lock icon Page 32 Advertisements Column 1
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      44 words