The Business Times, 5 June 2015

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Total Pages: 32
1 32 The Business Times
  • 31 1 THE BUSINESS TIMES 2015 SOCIETY OF NEWS DESIGN EXCELLENCE AWARD■BEST IN OVERALL REDESIGN■ S$1.00 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 Friday, June 5,2015
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  • DAILY DIGEST
    • 23 1 gave low-wage workers a raise last year as their number dipped, according to a Ministry of Manpower report. TOP STORIES 2
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    • Article, Illustration
      27 1 were flat in the first bidding exercise of June, as prospective buyers took a wait-and-see attitude amid expectations of a larger quota. TOP STORIES/ 2
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    • 22 1 2015 Emerging Enterprise Award jointly organised by The Business Times and OCBC will close on Tuesday. TOP STORIES 4
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    • 32 1 a golden jubilee concert for 50 years of the nation’s most celebrated music, will soon be available for sale again to raise funds two children’s charities. TOP STORIES 6
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    • 33 1 from European asset managers and European central banks, and limited supply, 2015 is “probably the best year ever” for a new covered bond market to start. COMPANIES MARKETS 7
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    • 28 1 is throwing his money behind Malaysian entrepreneur Tong Kooi Ong for a 20 per cent slice of a newly-set up property portal. COMPANIES MARKETS 8
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    • 26 1 markets entered a deep downward spiral, some Opec members are talking about a new “fair” price for crude. ENERGY COMMODITIES 14
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    • 25 1 investment arm EDBI has teamed up with investors to put in US$15 million Series C funding for US cybersecurity company CounterTack. TECHNOLOGY/16
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    • 21 1 dropped to a 17-year low against the US dollar, pressured by slowing economic growth and high inflation. GOVT ECONOMY/22
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  • 27 1 Thursday Change STI 3,345.00 -4.84 KL COMP 1,741.48 -7.69 NIKKEI 225 20,488.19 +14.68 HANG SENG 27,551.89 -105.58 SHENZHEN B 1,597.36 -4.46 DOW (11:45am EDT) 17,939.48 -136.79
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  • 1009 1  -  Amid a short supply and competition for talent, they go beyond fatter salaries to offer professional development and career progression By Fiona Lam fionalam@sph.com.sg Additional reporting by Elizabeth Mak Singapore PUBLIC sector agencies and govern-ment-linked companies (GLCs) are implementing a
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  • 749 1  -  Manchester United tops the table with revenues of £433m and operating profit of £117m By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE English Premier League (EPL) is not only the most popular football league in the world, but it is also the
    Source: Deloitte’s Annual Review of Football Finance 2015 Sports Business Group  -  749 words
  • Page 1 Advertisements
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    • 25 1 ASIAN AMERICANS A key factor in US electoral politics, TPP OPINION 25 SRX FLASH INDEX More signs of hdb resale market stabilising real estate /19
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    • 10 1 TRADEMARK ROW Ku De Ta nightclub renamed TOP STORIES 4
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  • TOP STORIES
    • 645 2  -  Total wage growth in 2014 eases as economy softens, although lower inflation lifts real wages, according to MOM report By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore FEWER employers gave low-wage workers a raise last year as their numbers dip,
      Source: MOM  -  645 words
    • 378 2  -  By Samuel Ee samuelee@sph.com.sg Singapore PREMIUMS for certificates of entitlement (COEs) were flat in the first bidding exercise of June, as prospective buyers took a wait-and-see attitude amid expectations of a larger quota in a couple of months. Only one COE category registered a tiny increase;
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    • 816 2  -  But 1MDB issue inspires little confidence ahead of a sovereign rating decision By Pauline Ng btworld@sph.com.sg Kuala Lumpur MALAYSIA sought to stave off a possible downgrade of its sovereign ratings by Fitch Ratings this month by assuring the international ratings agency
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    • 541 2 Victim was the 36th confirmed Mers infection in the country REUTERS Seoul SOUTH Korea on Thursday confirmed that a man who died a day earlier had been infected with Middle East Respiratory Syndrome (Mers), the third fatality in a virus outbreak
      REUTERS  -  541 words
    • 903 4  -  This follows last month’s court ruling for the nightspot to stop using its former name, after a five-year legal fight By Debbie Yong debyong@sph.com.sg @DebbieYongBT Singapore PROMINENT nightspot Ku De Ta, housed on the 57th floor of Singapore’s Marina Bay Sands
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    • 757 4  -  Private equity L Capital says they are working to rebuild the brand, open new stores By Debbie Yong debyong@sph.com.sg @DebbieYongBT Singapore Singapore A LAWSUIT, bad debts and insolvency –these don’t faze Ravi Thakran. For there are lessons even in adversity, the managing partner of
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    • 576 4  - Why winning the Emerging Enterprise Award goes beyond bragging rights Organiser OCBC says past winners have grown their companies significantly By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore NOMINATIONS for the 2015 Emerging Enterprise (EE) Award, which opened in April, close on Tuesday. Jointly organised by The Business Times and OCBC, the
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    • 600 6  -  NTUC will also develop, with partners, progression plans for PMEs in other sectors By Fiona Lam fionalam@sph.com.sg Singapore ENGINEERS will be able to get a boost in their career progression, thanks to the Engineers Progression Pathway launched on Thursday by the National Trades
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    • 543 6  -  By Nikita Mathur mathurn@sph.com.sg Singapore TICKETS for Sing50, a golden jubilee concert of the nation’s most celebrated music, will soon be available for sale again. Sponsored by Mapletree Investments Pte Ltd and co-organised by The Straits Times and The Business Times of Singapore
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  • Page 2 Advertisements
    • 191 2 r ■7 sk r3 itfiks 1 iv/ r ONCE IN A LIFETIME OPPORTUNITY BESTCsF BRITISH SINGAPORE OPEN HOUSE Sunday, 7 June 2015 10am to 5pm The British Club, 73 Bt Tinggi Road Singapore *****1 Enjoy guided tours and activities for the whole family! In conjunction with The British Club is
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  • Page 3 Advertisements
    • 1216 3 A SPECIAL FEATURE BROUGHT TO YOU BY AUDI An intuitive car of the future Audi paves the way forward with a new understanding of today’s automobile as it evolves from vehicle to service device THE luxury executive sedan is that rare model whose size and segment has the ability to
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  • Page 4 Advertisements
    • 2245 4 The Business Times NOTICES Toll free 1800-289-8822 Email noticesiSsph.com.sg www.sphclass.com.sg/notices J/ICKSPEED JACKSPEED CORPORATION LIMITED Company Registration No. *****0300W (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Jackspeed Corporation Limited (the "Company") will be held at Nordic Conference
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  • Page 6 Advertisements
    • 86 6 ft. I l <•> f ail i I a ii I I M m I I I I I I I I m ti ANYTHING cSl HAPPEN IN THE NEWSROOM, ESPECIALLY AT A TIME WHEN TECHNOLOGY IS REINVENTING MEDIA. IT'S INSPIRING TO WORK WITH A YOUNG AND GUNG-HO TEAM, WHO
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  • COMPANfES & MARKETS
    • 713 7  -  SocGen’s Ralf Grossmann cites big investor base, demand and tight spreads By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore WITH plenty of demand from European asset managers and European central banks, and limited supply, 2015 is “probably the best year ever”
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    • 361 7  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore A FEW small listed offshore firms have made moves to shore up their finances, though in different ways. Shipbuilder and offshore support vessel (OSV) owner Otto Marine said on Thursday that a unit has paid S$12
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    • 574 7  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore THE covered bond structure including a proposed alternative ring-fencing declaration of trust (DoT) structure to be adopted in the issue of covered bonds is a commercial decision by the issuing bank. The Monetary Authority of Singapore (MAS)
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    • 253 8  -  Singapore billionaire takes 20% stake in Tong Kooi Ong’s property information site By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore DEBUNKING the oft-cited myth that friends don’t make erstwhile business partners, Singapore billionaire Peter Lim is throwing his money behind Malaysian entrepreneur Tong
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    • 421 8  -  By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore ST Teleport, a satellite and fibre communications solutions provider and part of the ST Telemedia group, has formed a strategic partnership with Telespazio, a leading global provider of satellite services. Telespazio, headquartered in Rome, is a joint
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    • 510 8  -  By Ong Hui Qun ohuiqun@sph.com.sg Rowsley, another listed firm part-owned by Mr Lim, had sold its entire block in UPP to Mr Tong, who subsequently became UPP’s chairman and chief executive, for some S$22 million in March 2012. Mr Lim still
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    • 470 8  -  Maybank Kim Eng files S$2.6m suit in Singapore against LionGold deputy chairman Wira Dani By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore THE litigation net involving October 2013’s devastating penny stock saga on the Singapore Exchange has widened, this time involving the 37-year
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    • Article, Illustration
      63 10 STI Catalist Straits Times index June 4,2015 3,345.00 -4.84 (-0.14%) Current streak 1 day Day high 3,361.59 Day low 3,339.03 52-week high 3,539.95 (Apr 15, 2015) 52-week low 3,154.21 (Oct 16, 2014) FTSE ST Catalist index June 4,2015 694.25 -3.92 (-0.56%) Current streak 1 day Day high 701.33 Day low
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    • 650 10  -  STI ends in loss territory despite Singtel rise adding 8.6 points STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THE Straits Times Index (STI) on Thursday fell 4.84 points to end at 3,345 in overall weak trading that saw the whole market record 140 rises versus
      Source: Bloomberg  -  650 words
    • 307 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 245 -3 247/244 271 219 6 6195.5 CapitaLand 343 +2 348/339 379 293 12.6 2.6 *****.1 CapitaMall Trust 214 -4 218/213 228 188.5 5.1 7425.2 CityDev 1019 -12 1025/1010 1095 915 12.2
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    • 34 10 VOLUME Digiland Intl 315,886,500 Singapore O&G 88,758,800 Noble 66,577,700 Singtel 54,925,600 IHC 43,503,000 Market volume 1,963,039,000 VALUE Singtel 225,884,900 DBS Grp 143,650,751 UOB 108,141,531 OCBC Bank 90,438,083 CapitaLand 64,855,514 Market value 1,590,801,000
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    • 106 10 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS INDIA US$ US718 +5 453 731/713 1000/696 717/720 89.8 DBXT MSRussia US$ US207 -5 348 207/204 302/140 206/--UETF SSE50China 320 +5 276 324/307 325/140 320/321 100 STI ETF 340 244 340/338 355/319 339/340 Lyxor
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    • 77 10 Jun 4 VALUE CLOSE BT OB/OS -644.00 -90.00 BT CADI -*****.00 -152.00 BT 10-day MA -*****.00 -65.00 FTSE ST Mid Cap 776.10 -4.18 FTSE ST Small Cap 487.48 -4.53 FTSE ST All Share 805.45 -2.05 FTSE ST China Top 211.35 -2.76 FTSE ST China 251.76 -4.24 FTSE
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    • 35 10 STI FTSE ST All-Share ftse ST All-Share index June 4,2015 805.45 -2.05 (-0.25%) Current streak 1 day Day high 808.95 Day low 805.08 52-week high 847.98 (Apr 15, 2015) 52-week low 762.71 (Oct 16, 2014)
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    • 33 10 STI MSCI EAFE MSCI EAFE Index June 3,2015 1,917.15 +13.59 (+0.71%) Current streak 2 days Day high 1,921.44 Day low 1,899.65 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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    • 186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 10 2 0 0 0 4 10 2 Manufacturing 30 68 40 5 8 12 35 76 52 Commerce 19 22 13 2 8 0 21 30 13 Tpt/Stor/Comms 8 17 13
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    • 123 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 21,343 21,343 97,523 97,523 Manufacturing 158,171 38,617 196,788 121,236 3,628 124,864 Commerce 436,993 41,687 478,680 99,557 2,844 102,401 Tpt/Stor/Comms 148,856 610 149,466 334,050 42 334,092 Finance 38,557 25 38,582 374,678 5 374,682 Construction 53,166 15,225
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    • 75 10 BY CENTS CLOSE UP 52w high/low DBXT E50 US$ 5176 129.3 1.9 5630/4562 DBXT China50 US$ 4030 76.7 1.4 4258/2800 DBXT CSI300 US$ 1418 29.6 1.6 1430/624 DBS Grp 2038 27.0 1.3 2123/1672 JMH USD 6021 21.5 0.3 6788/5700 BY PERCENTAGE CLOSE UP 52w high/low ChinaGaoxian W*****8 0.3 50.0
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    • 79 10 BY CENTS CLOSE DOWN 52w high/low DBXT USDIGIfl US$ ***** -414.7 -1.1 *****/***** GLD US$ ***** -79.4 -0.5 *****/***** DBS Bk 4.7% NCPS ***** -35.0 -0.3 *****/***** Lyxor Russia US$ 276 -24.2 -6.1 409/188 DBXT MSINDO US$ 1324 -21.5 -1.2 1542/1324 BY PERCENTAGE CLOSE DOWN 52w high/low UOB MB
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    • 81 10 VOL CLOSE($) CHANGE AsiaMedic 43,147.4 0.130 +0.020 +18.18 Pacific Hc 1,010.0 0.012 -0.004 -25.00 China Hongcheng 59.0 0.004 -0.002 -33.33 Luxking 870.0 0.044 +0.008 +22.22 SingaporeKitchen 15.0 0.110 -0.020 -15.39 LifeBrandz 11,000.0 0.004 +0.001 +33.33 China Great Land 141.0 0.009 -0.001 -10.00 Mary Chia 115.0 0.051 -0.006 -10.53
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    • BROKERS’ TAKE
      • 181 10 Buy June 4 close: S$0.605 Target price: S$0.705 UOB Kay Hian, June 4 ISOTeam (ISO) has proposed the placement of up to 9 million new shares (to an institutional investor and individual investors) at S$0.58 per share, which will raise net proceeds of up to S$5 million. ISO also
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      • 106 10 Buy June 4 close: S$20.38 Fair value: S$22.52 OCBC Investment Research, June 4 DBS Group could see further recovery after showing signs of rebounding off both its one-year key uptrend support and S$19.90 key resistance-turned-support on significant trading volume in the last session. The RSI (relative strength index)
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      • 123 10  -  Compiled by Chan Yi Wen Buy close: June 4 close: S$4.17 Target price: S$4.80 UOB Kay Hian, June 4 The key takeaways from Singtel’s Investor Day 2015 is that we like the company due to the growth of its regional mobile associates. We also see the stock as a
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    • 7 10 DATA I 9.30pm US unemployment rate
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    • 454 11 CURRENCIES REUTERS London THE euro took a breather on Thursday, after its biggest two-day gain against the dollar in over six years on Thursday as the European Central Bank played down the impact of bond market volatility and the eurozone returned to
      REUTERS  -  454 words
    • FOREX RATES
      • 471 11 Jun 4 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.963 4.785 0.685 5.981 49.491 102.578 0.958 8.583 2.856 1.083 78.586 34.583 1.039 9.557 0.722 23.809 26.040 0.503 0.772 Canada 1.038 4.966
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      • 154 11 Jun4 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0385 1.0399 0.7713 0.7718 Canadian dollar 1.0781 1.0792 0.8010 0.8007 Euro 1.5152 1.5168 1.1254 1.1257 NZ dollar 0.9589 0.9603 0.7122 0.7127 Sterling pound 2.0640 2.0661 1.5330 1.5334 US
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      • 21 11 Jun4 S$ Bid Offer 1-month 1.3471 1.3481 2-months 1.3481 1.3495 3-months 1.3492 1.3506 6-months 1.3502 1.3514 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • 407 11 Jun 4 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.01 *****.17 *****.46 Jun15 *****.00 *****.50 *****.50 *****.00 *****4 *****2 Jul15 *****.50 *****.00 *****.50 *****.00 4947 6213 NIKKEI 225 INDEX FUTURES SPOT *****.94 *****.46 *****.21 Jun15 *****.00 *****.00 *****.00 *****.00 ***** *****6 Sep15
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      • 201 11 Jun 4 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left FTSEChinaA50 ***** MBeCW*****0 12.3 3 ***** 0.0 --1 DBS MB eCW*****5 13.1 1.6 ***** 0.1 2050 3 WE Holdings Ltd W*****5 0.2 unch 9131 1 0 2
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      • 373 11 In local curr In S$ In US$ dy yr dy yr dy yr Jun 3 Index Change Change Change Change Change Change World Preliminary 1357.3 0.2 6.4 -0.1 6.0 0.4 4.7 EAFE Preliminary 1103.6 0.2 11.8 0.2 9.4 0.7 8.0 Europe Preliminary 1532.6 0.4 10.9
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    • BANK RATES
      • 36 11 Jun 4 1 mth 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 1.***** SWAP Offer rates 1 mth 0.***** 3 mths 0.***** 6 mths 1.***** Source: Thomson Reuters
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      • 154 11 Jun 4 $S Offer Bid 0vernight 0.05 Par 1-month 0.6875 0.5625 2-months 0.75 0.625 3-months 0.8125 0.6875 Overnight mode: 0.45 US$ Offer Bid 7 days 0.18 0.08 1 month 0.23 0.13 2 months 0.28 0.18 3 months 0.40 0.20 6 months 0.60 0.40 9 months 0.75 0.55 12
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      • 69 11 Jun 4 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.24 102.32 102.32 5-Year N*****0H 1.625 01-Oct-19 98.91 99.20 99.10 10-Year NX*****Z 2.375 01-Jun-25 97.48 98.20 97.60 15-Year NY*****E 2.875 01-Jul-29 99.74 100.35 99.85 20-Year NZ*****V 3.375 01-Sep-33 104.8
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    • AGRI METALS ENERGY
      • 245 11 Jun-3 Price Net change change Last Trade Agricultural Jun-3 CBOT Soybeans (US cents/bu) 935.25 -5.50 -0.58% 14/07/2015 CBOT Soybean Oil (US cents/lb) 34.73 0.56 1.64% 14/07/2015 CBOT Wheat (US cents/bu) 510.75 -1.75 -0.34% 14/07/2014 Jun-3 LIFFE Cocoa (£/tonne) 2113.00 2.00 0.09% 16/07/2015 LIFFE Coffee (US$/tonne) 1723.00 0.00 0.00%
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    • 281 12  -  Stock surges a further 18% on Thursday after leaping 64% the day before HOT STOCK By Prisca Ang prisang@sph.com.sg Singapore ASIAMEDIC’s shares jumped 18.2 per cent to close at 13 Singapore cents on Thursday, two days after it announced the emergence of a new
      Source: Bloomberg  -  281 words
    • 419 12  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore CHINA’S Lenovo Group’s four bil-lion-yuan bonds (S$800 million) have been snapped up in the biggest offshore renminbi (RMB) sale in 2015 to date. The five-year benchmark deal which pays 4.95 per
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    • 485 12  -  Singapore O&G gains 154% from IPO price in Catalist debut; it’s second most active stock on exchange By Prisca Ang prisang@sph.com.sg Singapore IT appeared to be all bulls for Singapore O&G (SOG) stocks as the women’s healthcare firm made its Catalist debut on Thursday.
      Source: Bloomberg  -  485 words
    • CORPORATE DIGEST
      • 57 12 VIVA Industrial Trust, a Singapore-focused business park and industrial property trust, is issuing new stapled securities under a private placement at S$0.785 per unit to raise up to about S$40 million to help finance the asset enhancement (AEI) works at Technopark@Chai Chee. This may be raised up
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      • 69 12 THE 30 constituents of the Straits Times Index (STI) will remain unchanged following the conclusion of the latest quarterly review, said Singapore Press Holdings, Singapore Exchange and FTSE Russell. The STI reserve list, which comprises the five highest ranking non-constituents of the STI by market capitalisation, will
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      • 59 12 THE Ascott, the service residence unit of CapitaLand, on Thursday said that it has hit its target of 40,000 units globally ahead of its end-of-year schedule, on the back of aggressive global expansion. The next target, said its CEO Lee Chee Koon, is for Ascott to double its portfolio
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  • Page 7 Advertisements
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  • Page 8 Advertisements
    • 16 8 EDITOR'S CHOICE We bring you three top stories in full at businesstimes.com.sg every day thebusinesstimes btbreakingnews
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    • 37 8 SINGAPORE’S NEW TRACK 4x100 relay record-breaker Smriti Menon is also a bharatanatyamdancer STAR AKSHAYA PATRA FOUNDATION FEEDS 1.4M SCHOOL CHILDREN DAILY GET YOUR COPY TODAY FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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    • 274 8 and Interest rates rises have historically caused volatility in capital, investment and asset markets. How will equities, bonds, commodities and currencies react to this upcoming interest rate rise? Will HK H shares and China A shares continue to soar? How will higher interest rates affect the AH premium equilibrium? byGabriel
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  • Page 12 Advertisements
    • 2575 12 XYEC HOLDINGS CO., LTD. (Incorporated in Japan as a stock corporation (kabushiki Kaisha) with limited liability on 9 September 2005) (Registration No. 0104-01-*****8) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting (the “AGM”) of Xyec Holdings Co., Ltd. (the “Company”) will be held at
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  • BANKING & FINANCE
    • 584 13 It aims to double the role of such contracts in onshore forex market by 2020 BLOOMBERG Jakarta BANK Indonesia is relaxing rules on derivatives in an attempt to double derivatives’ role in the onshore foreign exchange market by 2020 and rein
      BLOOMBERG; PHOTO: BLOOMBERG  -  584 words
  • Page 13 Advertisements
    • 436 13 REVOLUTIONARY The Latest Technology New Models From All Brands Are Now In Store. GET 20% any Home Theatre System Wireless Soundbar with purchase of any featured TV Enjoy 2 MONTHS INSTALMENT WAIVER** (pMaybank 0% Enjoy Interest REVOLUTIONARY safe* u with No Extra Charge* 0OCBCBank #UOB (o) SsSt citibank ODBS $>OSB
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  • ENERGY & COMMODITIES
    • 841 14 BLOOMBERG Mumbai BILLIONAIRE Naveen Jindal ran what was once India’s most valuable steelmaker worth almost US$15 billion. That has now shrunk to less than US$2 billion, a fall exacerbated by the nation reversing its policy on coal.
      BLOOMBERG; PHOTO: BLOOMBERG  -  841 words
    • 988 14 But analysts are cautious as Saudi Arabia has not indicated that it subscribes to the price view REUTERS Vienna NEARLY a year after oil markets entered a deep downward spiral, unmoored from the US$100-a-barrel mark that had anchored them for
      REUTERS  -  988 words
    • 548 14 BLOOMBERG Singapore ON A visit to Tokyo in March, Indonesian President Joko Widodo told businessmen he aimed to begin a long-de-layed US$4 billion power project the following month. This week, his coordinating minister for economic affairs took his turn. Sofyan Djalil said at
      BLOOMBERG  -  548 words
  • Page 14 Advertisements
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  • Page 15 Advertisements
    • 86 15 Proudly Presented by 2 1 A P R I L 3 1 M AY 2 0 1 5 Thank You For Making Gourmet Japan A Resounding Success See You in 2016! Thank You to Our Partners For more information, please visitwww.gourmet-japan.comor call 6319 2153(Mon Fri, 9am 6pm) Official Food Service
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  • TECHNOLOGY
    • 481 16  -  It joins other investors to put in US$15m of Series C funding; plans to help firm expand in Asia By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore IN a boost to Singapore’s efforts to become a cybersecurity hub, EDBI, the Singapore Economic Development Board’s investment
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    • 528 16 BLOOMBERG Beijing ZHAO Weiguo, who became a billionaire buying semiconductor companies, says the industry has entered a “serious bubble” in China after valuations surged. Many of the nation’s chipmakers are too expensive given “fierce” competition, Mr Zhao, the chairman ofTsinghua Unigroup, said in
      BLOOMBERG; PHOTO: BLOOMBERG  -  528 words
    • 767 16 BLOOMBERG San Francisco APPLE Inc has persuaded developers in China to write apps for the iPhone, helping make that country the largest market for downloads last quarter. The challenge now is getting Chinese users to pay for software. While downloads
      BLOOMBERG  -  767 words
  • Page 16 Advertisements
    • 2671 16 In the matter of the Companies Act, Cap. 50 And In the Matter of Delta Time Capital Pte Ltd (In Members’ Voluntary Liquidation) (Registration No. *****3592E) NOTICE OF FINAL MEETING Notice is hereby given that, pursuant to Section 308 of the Companies Act, Chapter 50, the Final Meeting of the
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    • 410 16 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 WORLD FURNISHING NETWORK PTE. LTD. (THE “COMPANY”) COMPANY REG. NO. *****0760C (IN MEMBER’S VOLUNTARY WINDING UP) At an Extraordinary General Meeting of the Company deemed to have been held at 163 Penang Road #02-03 Winsland House II Singapore *****3 on 27th
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  • CONSUMER
    • 717 17 China where a new passion for Rover barks up big business Retailers selling pet foods or luxuries think grooming, chauffeured car rides and fancy collars are enjoying a boom REUTERS Shanghai SHANGHAI bank employee Frances Chen spends about a fifth of her monthly salary on her poodle Cookie, and is
      REUTERS; PHOTOS: REUTERS  -  717 words
    • 364 17  -  REUTERS BREAKINGVIEWS By John Foley Hong Kong WHEN villains in movies torture the hero, they usually give a lengthy account of their elaborate plans. Investors in Alibaba Pictures get no such thing. The film-making unit of China’s biggest e-commerce group is
      364 words
    • 517 17 Valuation follows SoftBank’s agreement to invest US$1 b in the South Korean online retailer; deal to close at the start of July BLOOMBERG Seoul SOFTBANK Corp’s investment in Coupang values the South Korean online retailer at about 5.5 trillion
      BLOOMBERG  -  517 words
    • 323 17 WP San Francisco AMAZON.COM is introducing free shipping for thousands of popular, smaller items makeup, mobile phone accessories, earplugs in its Web store, without requiring a minimum order. The new initiative applies to all customers, including those not enrolled in
      WP  -  323 words
  • Page 17 Advertisements
    • 530 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SOUTH ASIA RUBBER FACTORY PTE. LTD. (In Member’s Voluntary Liquidation) Company Reg. No. *****5688G NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act, Cap. 50 (the “Act”) that the Final Meeting of Members
      530 words

  • TRANSPORT
    • 419 18 influx of 25,000 soccer fans will put extra strain on a city that lacks a world-class airfield BLOOMBERG Frankfurt BERLIN’S airports are bracing for an influx of about 25,000 soccer fans for Saturday’s Uefa Champions League soccer final between Barcelona and
      BLOOMBERG; PHOTO: REUTERS  -  419 words
    • 432 18 REUTERS Manila THE Philippines has launched a long-anticipated scheme that will provide incentives worth US$600 million over six years to its tiny car industry in an attempt to lift the country’s shrinking car output and catch up with regional rivals. The South-east Asian
      REUTERS  -  432 words
    • 646 18 Premier Li oversees rescue efforts; only 29 bodies recovered so far YANGTZE RIVER MISHAP REUTERS Jianli, China DOZENS of people broke through a police cordon on Wednesday as they marched towards the site of a sunken cruise ship in
      REUTERS; PHOTO: REUTERS  -  646 words
    • 317 18  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore THE number of Singapore-flagged ships detained worldwide fell to 47 last year from 68 in 2011 and the detention rates for Singapore ships were also relatively low in 2014, the Maritime and Port Authority of Singapore (MPA)
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  • Page 18 Advertisements
    • 480 18 The Business Times NOTICES STEEL PARK RESOURCES PTE LTD COMPANY REGISTRATION NO. *****0315W (INCORPORATED IN THE REPUBLIC OF SINGAPORE) NOTICE OF RESOLUTIONS NOTICE IS HEREBY GIVEN THAT AT AN EXTRAORDINARY GENERAL MEETING OF THE COMPANY WAS DEEMED TO HAVE BEEN HELD AT 7 TUAS AVENUE 16 JURONG SINGAPORE *****4 ON
      480 words
    • 768 18 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 CLYDE INVESTMENTS PTE. LTD. (THE “COMPANY”) COMPANY REG. NO. *****5239M (IN MEMBER’S VOLUNTARY WINDING UP) At an Extraordinary General Meeting of the Company deemed to have been held at 163 Penang Road #02-03 Winsland House II, Singapore *****3 on 27th May
      768 words
    • 696 18 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF (I) KUSTO CONSTRUCTION PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) (REGISTRATION NO. *****2619Z) (II) KUSTO HYDROCARBONS PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) (REGISTRATION NO. *****2631W) (III) KUSTO LABNET VIETNAM PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) (REGISTRATION NO.
      696 words

  • REAL ESTATE
    • 663 19  -  Price index unchanged, transactions slip 2.2% in May over April; resale volume rises 19.3% y-o-y: SRX flash estimates By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore SRX Property’s latest flash estimates of the prices and transaction volumes of Housing Development Board (HDB) resale flats point
      663 words
    • 414 19 REUTERS Portland IN Portland’s hot real estate market where some homes are getting dozens of offers and bidding wars have sent prices skyrocketing, one buyer found a way to stand out among the rest: offer free pizza every month for life.
      REUTERS  -  414 words
    • 310 19 BLOOMBERG Seattle A GROUP led by Gaw Capital Partners has agreed to buy Columbia Center, Seattle’s tallest tower, for more than US$700 million, said two people with knowledge of the deal. The price would be a record for an individual office building
      BLOOMBERG  -  310 words
    • 233 19 BLOOMBERG Seattle BLACKSTONE Group LP is seeking about US$1.5 billion for two Boston office buildings acquired in the 2007 buyout of Equity Office Properties Trust, said two people with knowledge of the marketing. The buildings, at 500 Boylston St and 222 Berkeley
      BLOOMBERG  -  233 words
    • 533 19 The nation’s biggest conglomerate is going ahead with US$850m plan BLOOMBERG Colombo A BAN on casinos by Sri Lanka’s new government isn’t stopping the nation’s biggest conglomerate from pressing ahead with a US$850 million development project as the island
      BLOOMBERG; PHOTO: AFP  -  533 words
    • 455 19 Move to fight competition from online travel agents such as Expedia, Airbnb REUTERS Paris FRENCH hotel group Accor will allow independent hoteliers to offer their rooms on its booking website to fight back against online travel agents and gain greater control over
      REUTERS; PHOTO: AFP  -  455 words
    • 640 20 Prices decline in Q1, extending the average fall from a 2008 high to 16.3% BLOOMBERG Rome AS Italian home prices head for an eighth straight year of decline, some real estate agents are cheering on the drop. “I hope
      BLOOMBERG; PHOTO: REUTERS  -  640 words
    • 425 20 REUTERS Warsaw SWISS franc-denominated mortgages in Poland’s banking system are a ticking bomb, central bank governor Marek Belka said on Wednesday, calling on lenders to shoulder some of the cost of converting the loans into zlotys. He spoke after the central bank
      REUTERS  -  425 words

  • Page 20 Advertisements
    • 846 20 D02 HOUSE FOR SALE BLAIR ROAD F’hold Conservation 2-sty intermediate terrace. Land approx 1513 sq ft Reno. needed. Near Outram MRT/ amenities. Limited supply. 6251 7387 TKE D04 HOUSE FOR SALE SENTOSA Bungalow Sentosa 3½-Storey 8159 sqft, 6+1 ensuite, 2 living, Pool, Lift, Berth. Also for rent. Owner 9144 0027/
      846 words

  • VEHICLE & LIFESTYLE
    • 911 21  -  By Mathew Mathews The writer is a senior research fellow at the Institute of Policy Studies, National University of Singapore. SINGAPORE is not alone in observing changes to its family structure. In the Organisation for Economic Cooperation and Development (OECD) countries, the proportion of one-person households
      911 words
  • Page 21 Advertisements
    • 623 21 BENTLEY FOR SALE FLYING SPUR V8 New Bentley Flying SPUR V8 Mulliner. 10% deposit. Monthly $10,588 x 96. Vincar Pte Ltd. Call 6473 1119 6749 1119. BMW FOR SALE BMW 428 GRAND COUPE New BMW 428 Grand Coupe M Sport. 10% Deposit. Monthly $2,588 x 96. Sales Lease. Vincar Pte
      623 words

  • GOVERNMENT & ECONOMY
  • Page 22 Advertisements
    • 494 22 Keep Calm And Take Charge, Shun Failure, Network Effectively! Who should attend: Managers, Directors, Business Owners, Sales and Service Executives. FULL-DAY WORKSHOPS Positive Thinking: Bouncing Back From Failure Taking Initiative And Making Things Happen At The Workplace Taking initiative means handling duties and responsibilities without waiting to receive instructions from
      494 words


  • OPINION
    • 538 24 WHEN a new chief executive officer (CEO) takes the helm at Singapore Exchange (SGX), which may happen later this month, he or she will inherit a fundamentally strong and profitable organisation which enjoys a strong brand name as an Asian
      538 words
    • 718 24  -  THE BOTTOM LINE By Robert Samuelson THE WASHINGTON POST WRITERS GROUP WAS the Federal Reserve’s massive bond-buying programme an engine of economic inequality? It’s easy to think so. The Fed bought more than US$3 trillion of US Treasury securities and mortgage bonds to
      THE WASHINGTON POST WRITERS GROUP  -  718 words
    • 1367 24  -  To achieve this will require political will, public awareness that water is a critically important resource and that users must pay for it. BY PETER BRABECK-LETMATHE AND ASIT K BISWAS public BY PETER BRABECK-LETMATHE, ASIT K BISWAS T Mr Brabeck-Letmathe is chairman of
      PHOTO: AFP  -  1,367 words
    • 1043 25  -  COMMENTARY By David Tonge T The writer, a member of the Official Monetary and Financial Institutions Forum Advisory Board, is managing director of IBS Research Consultancy Istanbul TURKEY’S general election on June 7 could reshape the country in two ways. It could allow President Recep Tayyip Erdogan
      1,043 words
    • 891 25  -  By Simon Johnson T The writer is a professor at MIT’s Sloan School of Management and the co-author of “White House Burning: The Founding Fathers, Our National Debt, and Why It Matters to You” THE debate in
      891 words
    • 1212 25  -  As Asians become the largest group of immigrants to the US, Republicans may need to reassess their position on immigration `By Leon Hadar ACCORDING to a recent review of new immigration data in the United States, China has replaced
      PHOTO: AFP  -  1,212 words


  • 1936 26 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 KOOKYANG EXPRESS 3 55 12/6 13/6 16/6 18/6 OCEAN PROCEED 1 60 16/6
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  • Page 26 Advertisements
    • 106 26 Experienced ship maintenance services wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 1HE BUSINESS TIMES SHIPPING TIMES Make A Splash In The Maritime World Via s|£iJhiaritime.coM Ahoy there! If you are in a business pertaining to any sector of
      106 words


  • Page 28 Advertisements
  • Page 28 Miscellaneous
    • 319 28 CRYPTIC CROSSWORD Across 1 Ship of comparatively fit women must come first (6) 5 Key employed by Rolling Stones right for crooner? (8) 9 Self-centred new Conservative team enveloped by anger (13) 10 Piece of music on-line monitor cut short? (8) 11 Camp needing a convict on the way? (6)
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  • Page 29 Advertisements
    • 493 29 TOMORROW’S WORK-LIFE BALANCE SEQUENCE 01 Live smart SMART SCREENS As part of the Smart Nation initiative, smart screens wil be set up in HDB blocks. These screens will provide relevant information to residents, such as traffic conditions in the neighbourhood, bus timings and community as well as national news. At
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  • Page 31 Advertisements
    • 49 31 Commune m www.lhecommunelife.com FLAGSHIP STORE 9 Raffles Boulevard #02-32 Millenia Walk Singapore *****6, Tel. *****82,3 Mon-Frl: 11.30AM-9PM Sal-Sun; 11AM-9FM DEFU OUTLET 28 Defu Lane 4 Defu Industrial Park Singapore *****4, Tel. *****086 Mon-Fri: 9AM-5.45PM Sal-Sun; 9AM-7PM PARAGON STORE 290 Orchard Road #04-50 Paragon Singapore *****9, Tel. *****789 Everyday; 10.30AM-9PM
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  • BT Lifestyle
    • 1828 32  -  Singa-pop has come a long way since its birth and golden years in the 60s when local music ruled the charts and the airwaves. Although the scene gradually disappeared over the decades for a variety of reasons, it has enjoyed a revival in recent years as the
      FILE PHOTO; PHOTO: HOUSE OF RIOT  -  1,828 words
    • CITY LIFE
      • 736 27  -  Kiwi fruit marketer Zespri is organising early morning activities to promote a healthier lifestyle. BY AVANTI NIM avantin@sph.com.sg CLUBBING doesn’t have to be a night-time activity as some health-con-scious Londoners are proving, with morning “raves” catching on in popularity. Morning clubbers don’t start with
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      • CITY BUZZ BT writers'picks of what to see, do or talk about
        • 208 27  -  By Helmi Yusof OPERA Opera in The Park by Singapore Lyric Opera OPERA lovers’ favourite annual outdoor event returns on Saturday with an unusual theme “opera in movies”. Highlights include Habanera from Bizet’s Carmen that was featured in Superman Returns, Largo al Factotum from Rossini’s
          208 words
        • Article, Illustration
          167 27  -  By Dylan Tan Dim Sum Dollies HERE’S what you probably didn’t learn from your secondary school text books The History of Singapore Part 1, as told and performed by the always-likeable Dim Sum Dollies. First staged in 2007, the comic revue will bring its audience back to the
          167 words
        • Article, Illustration
          256 27  -  By Tay Suan Chiang Beer Growlers BEER drinkers are in for a treat. Casual bar and beer specialist Amber Nectar has just introduced beer growlers, 1.89 litre bottles of beer. Amber Nectar is the first in Singapore to import and use special growler stations, and customers can be assured
          256 words
        • Article, Illustration
          193 27  -  By Tay Suan Chiang The Tools that Built Singapore MOST exhibitions tracing Singapore’s history show scenes of the nation’s progress. This exhibition shows how far Singapore has come through everyday tools. On display are items from the 1940s to the 1960s, such as the washboard, a charcoal iron and
          193 words
        • Article, Illustration
          201 27  -  By Rachel Loi Real Escape Game (REG) in Singapore Vol. 9: Escape from The Conspiracy LOVE solving puzzles but tired of the same old escape room concept? Then you might want to check out the Real Escape Game (REG) in Singapore’s large-scale version of an escape room game Volume
          201 words
        • Article, Illustration
          143 27  -  By Cheah Ui-Hoon Graduation show NAFA’S School of Art Design is holding its first combined graduation show featuring more than 550 works by its graduating diploma and degree students from the programmes of Fine Art, 3D Design, Fashion Studies, and Design Media. The diploma graduates’ works will be showcased
          143 words
    • WINE/ARTS
      • 497 28  -  ART By Cheah Ui-Hoon uihoon@sph.com.sg WHAT happens when you’re born in one country, but grow up in another? His relationship between two lands has provided much creative fodder for artist Ahmad Abu Bakar. Malaysian-born, Ahmad grew up in Singapore as his parents
        497 words
      • 922 28  -  Globally, London is the second best city for wining while dining, with 24 restaurants clinching the World of Fine Wine’s top three-star award By Elin McCoy BLOOMBERG I’VE long thought that New York tops just about everywhere if you want to
        BLOOMBERG; PHOTO: BLOOMBERG; FILE PHOTO  -  922 words
    • ARTS/MUSIC
      • 738 30  -  Artist Charles Fazzino’s first solo exhibition here is a tribute to the nation’s 50th anniversary. ART BY CHEAH UI-HOON uihoon@sph.com.sg AMERICAN artist Charles Fazzino’s art just pops out at you. It’s a deliberate method that he uses, not that the colours aren’t vibrant or his
        738 words
      • 576 30  -  MUSIC By Christopher Lim limchris@sph.com.sg @ChrisLimBT Carrie Lowell Sufjan Stevens Asthmatic Kitty B+ SUFJAN Stevens is an American sing-er-songwriter in the tradition of Bob Dylan and James Taylor the sort of bard that resonates with unexpected audiences. His song The
        576 words
      • 519 30  -  By Dylan Tan dylantan@sph.com.sg @DylanTanSYBT MISERY sure loves company; that’s probably why Rachael Yamagata best known for writing some of the world’s most depressing love songs could still command a near full-house last Friday when she played Singapore for the sixth time since
        519 words
    • MUSIC/CINEMA
      • 605 31  -  Aboriginal protest songs deal with struggles and resistance, but the music is utterly rich and captivating. BY HELMI YUSOF MUSIC BY HELMI YUSOF helmi@sph.com.sg @HelmiBT SOME of the most beautiful music you’ll hear at this year’s Singapore International Festival of Arts (SIFA) comes
        605 words
      • 634 31  -  MOVIES By Geoffrey Eu WHEN Entourage, the HBO TV series about a New York home-boy-turned-movie-star and his buddies on the loose in Hollywood ended its eight-season run in 2011, it was already some way past its prime. The ultimate male-bonding
        634 words
      • 531 31  -  By Geoffrey Eu ALOHA, an all-purpose word in the Hawaiian language meaning hello or goodbye and also peace and affection, embodies the warm, welcoming spirit of the Hawaiian Islands and its people. It is now also the title of a movie by writer-direc-tor Cameron Crowe, whose
        531 words
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