The Business Times, 17 June 2015

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Microfilm: NL33513
Total Pages: 26
1 26 The Business Times
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  • Title Section
    Lock icon Masthead
    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 Wednesday, June 17,2015
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  • DAILY DIGEST
    • Article
      Lock icon Prime Minister Alexis Tsipras
      22 1 hurled criticism at Greece’s creditors, accusing the IMF of criminal responsibility for his country’s predicament. TOP STORIES 2
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    • Article
      Lock icon PUB is looking
      17 1 into the feasibility of using underground space for water drainage and storage.TOP STORIES 4
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    • Article
      Lock icon Singapore's retail Reits
      32 1 saw average total returns of 13.7 per cent over the past 12 months and maintained an average distribution yield of 6.1 per cent, SGX update shows. COMPANIES MARKETS 6
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    • Article
      Lock icon The mutual fund industry
      27 1 in Singapore got an overall C grade together with many others that include Hong Kong –in a Morningstar Asia report. COMPANIES MARKETS 7
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    • Article
      Lock icon M&L Hospitality
      24 1 has acquired two hotels in London and Brussels for an undisclosed amount, boosting its asset portfolio to over S$1.7 billion. REAL ESTATE/12
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    • Article
      Lock icon A rice glut
      25 1 that sent prices slumping more than a year ago is shrinking, just as El Nino arrives to parch paddies. ENERGY COMMODITIES 14
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    • Article, Illustration
      Lock icon Google has teamed up
      21 1 with five leading orchestras in a bid to draw more classical music lovers to digital music. TECHNOLOGY/15
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    • Article
      Lock icon Indonesia’s chief salesman
      26 1 Franky Sibarani says he was hopeful his agency will roll back a tide of nationalism that has spooked foreign executives. GOVT ECONOMY/ 17
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    • Article
      Lock icon China is looking
      27 1 for new ways to lower long-term borrowing costs and stop the fruits of its looser monetary policy being pumped into speculative plays. GOVT& ECONOMY/18
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    • Article
      Lock icon Manufacturing moved
      26 1 into the spotlight at the Paris Air Show as Airbus and Boeing battle to deliver a record US$1.8 trillion backlog of orders. TRANSPORT 19
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  • Article, Illustration
    Lock icon For Singapore firms, falling ringgit brings mixed fortunes
    885 1  -  Business leaders say those that have yet to expand in Malaysia will find it cheaper to do so now By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore THE recent weakening of the ringgit to record lows against the Sing dollar could bring mixed fortunes
    Source: Bloomberg  -  885 words
  • Article, Illustration
    Lock icon One or two hikes? Analysts divided as Fed meets
    793 1  -  Slower than expected US economic growth in Q1 and jitters over a Greek default adding to volatility By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore A RATE hike is not expected as the US Federal Open Market Committee (FOMC) meeting draws to a
    PHOTO: SHAWN TEO  -  793 words
  • Article
    Lock icon MARKETS
    28 1 Tuesday Change STI 3,298.09 -25.04 KL COMP 1,722.24 +0.08 NIKKEI 225 20,257.94 -129.85 HANG SENG 26,566.70 -295.11 SHENZHEN B 1,551.47 -18.18 DOW (11:45 am EDT) 17,866.67 +75.50
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  • Page 1 Advertisements
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      85 1 8 "*****1 *****4 PROPERTY Transactions of strata commercial properties at new lows TOP STORIES 4 Deutsche Bank db.com Global strength and expertise. At the centre of Asia's markets. This advertisement has been approved and/or communicated by Deutsche Bank AG or by its subsidiaries and/ or affiliates ("DB") an Authority and
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      39 1 COES Downtrend in COE prices seen continuing top stories 5 OPEN-MARKET PURCHASE Noble Group pumps S$42.9m into buybacks of shares COMPANIES MARKETS 6 CARNIVAL ATMOSPHERE AT CLOSING CEREMONY OF 28TH SEA GAMES PAGE 2 PHOTO: NEO XIAOBIN/THE STRAITS TIMES
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      Lock icon Page 1 Advertisements Column 3
      11 1 COMMENTARY Greek debacle will see victors among the vanquished OPINION 23
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  • TOP STORIES
    • Article, Illustration
      Lock icon The Games that blazed the Asean spirit closes
      624 2  -  Tan Chuan-Jin thanks all for playing their part and hands the SEA Games Federation flag to Malaysia for 2017 By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore SINGAPORE brought the curtain down on a successful 28th edition of the South East Asian (SEA) Games
      PHOTO: REUTERS  -  624 words
    • Article
      Lock icon Greek tragedy in the making as Tsipras blasts IMF, ECB
      603 2 With Greece’s PM still in denial this late in the game, officials raise the spectre of nation’s exit from eurozone BLOOMBERG Athens PRIME Minister Alexis Tsipras hurled criticism at Greece’s creditors, accusing the International Monetary Fund of “criminal” responsibility for
      BLOOMBERG  -  603 words
    • Article
      Lock icon HK-Shenzhen connect launch date announcement delayed: sources
      279 2 REUTERS Hong Kong THE announcement of the launch date of the landmark Hong KongShenzhen stock market link is on hold due to technical issues, putting at risk China’s pledge to have the scheme ready by year-end, three sources familiar with the situation said.
      REUTERS  -  279 words
    • Article, Illustration
      Lock icon Transactions of strata commercial properties hit new lows
      961 4  -  While prices of office strata units may hold up for now, the prices for retail units face more downside risks By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore BUYING sentiment for strata-titled commercial properties continues to cool amid tapering demand from both end-users and
      BTGraphics; Source: REALIS as at 11 June 2015, Knight Frank Research  -  961 words
    • Article
      Lock icon PUB eyes underground water drainage and storage for Singapore
      767 4  -  It’ll carry out 2-year study on design options for tunnels, underground reservoirs and a hydropower system By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore NATIONAL water agency PUB, in order to keep abreast of Singapore’s water needs and the challenges of climate
      767 words
    • Article
      Lock icon Downtrend in COE prices seen continuing
      607 5  -  Prospective buyers are holding back on purchases as they feel upcoming quotas can only get bigger By Samuel Ee samuelee@sph.com.sg Singapore WEDNESDAY’S Certificate of Entitlement (COE) bidding exercise is expected to continue with a general downtrend in passenger car premiums, which some dealers believe
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    • Article, Illustration
      Lock icon Tembusu Partners invests US$10m in NZ cricket platform
      590 5  -  By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore LOCAL private equity firm Tembusu Partners has invested US$10 million in Wellington-based CricHQ, a platform that offers technology solutions to manage the game of cricket. CricHQ has developed cricket products such as smartphone and tablet
      PHOTO: AFP  -  590 words
  • Page 2 Advertisements
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      131 2 HSBA Hong Kong Singapore Business Association 21st CONRAD CENTENNIAL SINGAPORE HOTEL] 26 JUNE 2015^FRIDAY Hong Kong Singapore Business Association Entrepreneurship Forum 2015: The Journey 8.30AM TO 12.00NOON Spark the Entrepreneurial Culture of Singapore Keynote Speaker Professor Chen Kwan-Yiu, Edward Honorary Professor and Distinguished Fellow of the Centre of Asian Studies
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  • Page 5 Advertisements
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      45 5 Here for achievers You are focused on developing the next big thing. Making a difference. As your career takes shape, you want a bank to help manage your financial future. With expert guidance you can trust. That’s good for your ambition. Here for good sc.com/hereforgood
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Noble Group pumps S$42.9m into buybacks of shares
      450 6  -  Third open-market purchase raises acquisitions to 62.98m shares, just under 1% of its total share base By Jamie Lee, Kelly Tay leejamie@sph.com.sg kellytay@sph.com.sg @JamieLeeBT @KellyTayBT Singapore NOBLE Group snapped up more of its shares in its third buyback this month, with such
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    • Article
      Lock icon Singapore retail Reits achieve 12-month average total returns of 13.7%
      543 6  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore SINGAPORE’S retail Reits saw average total returns of 13.7 per cent over the past 12 months and maintained an average distribution yield of 6.1 per cent, the latest market update by the Singapore Exchange
      543 words
    • Article
      Lock icon ST Aerospace wins US$100m deal from UK budget carrier
      298 6  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore ST ENGINEERING on Tuesday said its aerospace arm ST Aerospace has secured a seven-year contract worth over US$100 million for aircraft component support from British low-cost carrier Flybe. ST Aerospace will provide comprehensive maintenance-by-the-hour (MBTH)
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    • Article
      Lock icon Singapore scores C in ‘global fund investor experience’ report
      435 7  -  No major weaknesses but market is more expensive and disclosures have room for improvement By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore FUNDS in Singapore are expensive, are tied to advice that is not priced in a transparent manner, and are backed by
      435 words
    • Article
      Lock icon Friends Provident gets new chairman and CEO
      292 7  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore INSURANCE giant Aviva has tapped two of its own to take over as the new chairman and chief executive officer of its freshly bought subsidiary Friends Provident International (FPI), following its £5.6 billion (S$ 11.7 billion) merger
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    • Article
      Lock icon Asia Fashion responds to auditor’s qualified opinion
      520 7  -  By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore ASIA Fashion Holdings’ independent auditor, Foo Kon Tan LLP, has included a qualified opinion on the company’s financial statements for the financial year ended Dec 31, 2014. Issues flagged include the inability to ascertain the appropriateness of
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    • Article, Illustration
      Lock icon STI / Catalist
      63 8 STI Catalist Straits Times index June 16,2015 3,298.09 -25.04 (-0.75%) Current streak 2 days Day high 3,311.94 Day low 3,291.06 52-week high 3,539.95 (Apr 15, 2015) 52-week low 3,154.21 (Oct 16, 2014) FTSE ST Catalist index June 16,2015 670.11 -1.33 (-0.20%) Current streak 3 days Day high 673.42 Day low
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    • Article, Illustration
      Lock icon STI slips again as Fed risk hampers trading
      515 8  -  Banks remain a key drag on the market; trading stays thin with losers outnumbering gainers 7:4 TTSTOCKS By Kenneth Lim kenlim@sph.com.sg @KennethLimBT SINGAPORE shares fell for the second straight session on Tuesday as broad macroeconomic uncertainties continued to weigh on market activity.
      Source: Bloomberg  -  515 words
    • Article
      Lock icon STI STOCKS
      307 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 247 unch 249/244 271 219 5.9 6246.1 CapitaLand 333 -2 336/332 379 293 12.2 2.7 *****.8 CapitaMall Trust 214 +1 215/211 228 188.5 5.1 7425.2 CityDev 959 -5 963/959 1095 915 11.5
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    • Article
      Lock icon MOST ACTIVE
      34 8 VOLUME Noble 64,975,600 IHC 60,900,100 Debao Property 40,292,500 Digiland Intl 28,550,100 LionGold 26,856,400 Market volume 1,270,427,000 VALUE DBS Grp 76,222,696 Singtel 74,990,466 Noble 47,117,404 OCBC Bank 40,930,740 UOB 38,114,627 Market value 901,679,000
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    • Article
      Lock icon SGX ETFs Most Active
      110 8 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 336 -2 252 338/335 355/319 335/336 DBXT MSPHILS US$ US208.7 +0.2 208 209/207.1 233.2/194.1 207.8/208.6 16.7 Nikko AM STI ETF 339 -2 121 341/339 422/324 339/341 8.2 UETF SSE50China 316 -9 56 322/315 340/140
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Jun 16 VALUE CLOSE BT OB/OS -772.00 +93.00 BT CADI -*****.00 -92.00 BT 10-day MA -*****.00 -77.00 FTSE ST Mid Cap 760.45 +0.45 FTSE ST Small Cap 475.88 -1.74 FTSE ST All Share 792.89 -4.80 FTSE ST China Top 206.49 +0.21 FTSE ST China 244.49 -0.70 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 8 STI FTSE ST All-Share ftse ST All-Share index June 16,2015 792.89 -4.80 (-0.60%) Current streak 2 days Day high 795.42 Day low 791.88 52-week high 847.98 (Apr 15, 2015) 52-week low 762.71 (Oct 16, 2014)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE index June 15,2015 1,867.94 -22.73 (-1.20%) Current streak 2 days Day high 1,885.60 Day low 1,863.80 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 6 2 0 0 0 7 6 2 Manufacturing 33 53 48 10 13 9 43 66 57 Commerce 12 21 19 1 5 6 13 26 25 Tpt/Stor/Comms 11 13 15
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      120 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 12,696 12,696 56,125 56,125 Manufacturing 112,173 58,717 170,890 67,586 3,425 71,011 Commerce 137,700 51,283 188,983 90,004 1,786 91,790 Tpt/Stor/Comms 106,562 635 107,197 162,252 45 162,297 Finance 22,205 1 22,206 178,237 178,237 Construction 28,111 6,591 34,702
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    • Article
      Lock icon GAINERS
      77 8 BY CENTS CLOSE UP 52w high/low GLD US$ ***** 51.1 0.3 *****/***** DBXT Vietnam US$ 2534 45.7 1.4 3100/2250 DBS Bk 4.7% NCPS ***** 19.0 0.2 *****/***** DBXT MSINDO us$ 1252 10.8 0.6 1542/1242 Keppel Corp 850 8.0 1.0 1115/791 BY PERCENTAGE CLOSE UP 52w high/low Acma Ltd W*****7
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    • Article
      Lock icon LOSERS
      74 8 BY CENTS CLOSE DOWN 52w high/low DBXT AUDCS SG$ *****-1180.0 -4.9 *****/***** JMH USD 5500 -282.4 -3.7 6788/5410 DBXT E50 US$ 4960 -225.9 -3.3 5630/4562 JSH USD 3036 -157.3 -3.7 3810/3008 Lyxor ChinaH US$ 1818 -130.4 -5.1 2055/1280 BY PERCENTAGE CLOSE DOWN 52w high/low NOL MB eCW*****1 2.5 -64.8
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    • Article
      Lock icon UNUSUAL ACTIVITY
      67 8 VOL CLOSE($) CHANGE LifeBrandz 1,190.2 0.005 Brooke Asia 0.200 Acma Ltd 1 0.500 Green Build 3.5 0.350 +0.040 +12.90 UG Healthcare 1,201.5 0.275 +0.010 +3.77 Mercurius 0.016 Fuxing China 66.0 0.280 +0.020 +7.69 FJ Benjamin 0.129 Ryobi Kiso 7.0 0.105 +0.005 +5.00 Pacific Hc 0.011 Shows the stocks
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    • BROKERS’ TAKE
      • Article
        Lock icon Mapletree Greater China Commercial Trust | Buy
        183 8 Mapletree Greater China Commercial Trust Buy Buy June 16 close: S$1.035 Target price: S$1.11 OCBC Investment Research, June 16 Mapletree Greater China Commercial Trust (MGCCT) announced that it has entered into a conditional sale and purchase agreement with an unrelated third party vendor to acquire a 100% interest in Sandhill
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      • Article
        Lock icon Fu Yu Corp
        170 8 Buy June 16 close: S$0.189 Target price: S$0.30 RHB, June 16 Management is keen to reward shareholders with a maiden dividend upon approval of capital reduction with a payout of 0.5 cent at the upcoming AGM in July. Potential growth will likely come from its medical and
        170 words
      • Article
        Lock icon Midas
        174 8  -  Compiled by Melissa Tan Buy June 16 close: S$0.345 Target price: S$0.49 DBS Group Research, June 16 Midas announced that its joint venture Nanjing SR Puzhen Rail Transport won three train contracts worth 2.1 billion yuan, which are to be delivered in 2016 and 2017. These include two metro
        174 words
    • Article
      Lock icon CALENDAR
      36 8 I 8.30 am (June 17) S’pore Non-oil Domestic Exports I June 17 S’pore MAS Survey of Professional Forecasters I 4pm (June 17) S’pore COE Bidding Results I 8 pm (June 17) US MBA Morgage Applications
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    • Article
      Lock icon US$ up against yen; euro robust despite fears over Greece
      457 9 CURRENCIES REUTERS London THE US dollar inched higher against the yen on Tuesday, while the euro again proved relatively robust in the face of fears that Greece may be edging towards a debt default and departure from the euro. It
      REUTERS  -  457 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Jun 16 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.955 4.805 0.686 6.000 49.695 103.310 0.955 8.659 2.899 1.108 78.758 34.950 1.041 9.634 0.720 23.931 26.092 0.496 0.774 Canada 1.048 5.034
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      • Article, Illustration
        Lock icon HANG SENG
        2 9
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      • Article, Illustration
        Lock icon NIKKEI
        1 9
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 9
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      • Article, Illustration
        Lock icon DOW JONES
        2 9
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 9 Jun 16 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0405 1.0421 0.7737 0.7743 Canadian dollar 1.0902 1.0915 0.8110 0.8107 Euro 1.5177 1.5191 1.1286 1.1288 NZ dollar 0.9391 0.9404 0.6983 0.6988 Sterling pound 2.0974 2.0993 1.5596 1.5599
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Jun 16 S$ Bid Offer 1-month 1.3454 1.3467 2-months 1.3461 1.3475 3-months 1.3471 1.3486 6-months 1.3490 1.3506 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        392 9 Jun 16 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.22 *****.42 *****.57 Jun15 *****.50 *****.00 *****.00 *****.00 *****0 *****9 Jul15 *****.50 *****.50 *****.50 *****.50 ***** ***** NIKKEI 225 INDEX FUTURES SPOT *****.83 *****.21 *****.16 Sep15 *****.00 *****.00 *****.00 *****.00 ***** *****4 Dec15
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES Most active
        204 9 Jun 16 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left FTSEChinaA50 ***** MBeCW*****0 6.8 -2 4478 0.0 --1 KepCorp MB eCW*****2 8.3 0.1 3829 0.2 915 5 Capitaland MB eCW*****3 2.8 -0.2 3430 0.2 340 2 WE
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 9 In local curr In S$ In US$ dy yr dy yr dy yr Jun 15 Index Change Change Change Change Change Change World Preliminary 1329.9 -0.7 4.2 -0.5 4.4 -0.7 2.8 EAFE Preliminary 1071.2 -1.0 8.6 -1.0 7.0 -1.2 5.2 Europe Preliminary 1474.6 -1.5 6.7
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    • BANK RATES
      • Article
        Lock icon SIBOR
        36 9 Jun 16 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 0.***** Source: Thomson Reuters
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      • Article
        Lock icon INTERBANK RATES
        154 9 Jun 16 $S Offer Bid 0vernight 0.07 0.05 1-month 0.6875 0.5625 2-months 0.75 0.625 3-months 0.8125 0.6875 Overnight mode: 0.05 US$ 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 0.80 0.60 12
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      • Article
        Lock icon GOVERNMENT SECURITIES
        65 9 Jun 16 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.42 5-Year N*****0H 1.625 01-Oct-19 99.31 99.35 99.35 10-Year NX*****Z 2.375 01-Jun-25 98.3 98.30 97.78 15-Year NY*****E 2.875 01-Jul-29 100.93 100.60 100.60 20-Year NZ*****V 3.375 01-Sep-33 106.36 30-Year NA*****N
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 9 Jun-15 Price Net change change Last Trade Agricultural Jun-15 CBOT Soybeans (US cents/bu) 937.75 -2.25 -0.24% 14/07/2015 CBOT Soybean Oil (US cents/lb) 32.69 -0.45 -1.36% 14/07/2015 CBOT Wheat (US cents/bu) 489.25 -14.50 -2.88% 14/07/2014 Jun-15 LIFFE Cocoa (£/tonne) 2137.00 35.00 1.67% 16/07/2015 LIFFE Coffee (US$/tonne) 1755.00 33.00 1.92%
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    • Article
      Lock icon Select blue chips may offer value: SGX report
      459 10  -  Eleven Singapore-listed value stocks outperform peers in Asean index By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore AN investor may not have to stray very far from blue chips to find value, according to a report by the Singapore Exchange (SGX). The 11 Singapore-listed
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    • Article, Illustration
      Lock icon Keppel-linked Ocean Mineral S’pore awarded seabed exploration deal
      384 10  -  By Ong Hui Qun ohuiqun@sph.com.sg Singapore OCEAN Mineral Singapore Pte Ltd (OMS) has entered into a 15-year seabed exploration contract for polymetallic nodules with the International Seabed Authority (ISA). It is the first Singaporean company to be awarded a contract for polymetallic
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    • CORPORATE DIGEST
      • Article
        Lock icon DBS Bank
        93 10 DBS BANK said on Tuesday that it has established a US$10 billion Global Covered Bond Programme, under which covered bonds may be issued from time to time and investors will have recourse to both the issuer and a portfolio of assets through the covered bond guarantor, Bayfront Covered
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      • Article
        Lock icon Pacific Century Regional Developments
        125 10 PACIFIC Century Regional Developments (PCRD) said on Tuesday it had on June 10, 2015, responded to an open letter sent by Ascapia Capital dated May 26, 2015, which noted that PCRD had been “aggressively buying back its shares over the past few weeks”. In the response,
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  • Page 6 Advertisements
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      Lock icon Page 6 Advertisements Column 1
      78 6 MyS Ride& BE CHAUFFEUR DRIVEN 48 7 UBI CLOSE, SINGAPORE *****4 alpinecarrental.com.sg ONLY! DAILY MONTHLY RATES AVAILABLE (65) *****638 *Terms and conditions apply Take Action to Prevent Stroke and Heart Attack! Early screening and detection saves lives Healthy Heart Screening Package $250 CT Scan for Cardiac Screening $990 Rates are
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      Lock icon Page 6 Advertisements Column 2
      314 6 Picking Winners Avoiding Losers and AS INTEREST RATES RISES 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
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      Lock icon Page 6 Advertisements Column 3
      224 6 InvestorRelationsHighlights Loyz Energy’s M&A with Primeline Energy will further enhance its attractiveness to investors Loyz Energy Limited, a fast-growing Singapore upstream energy group is proposing to acquire and merge with Canada-listed Primeline Energy Holdings, Inc., for approximately S$197.0 million. Primeline’s producing China offshore gas field would significantly expand Loyz’s portfolio
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
      284 7 AccountServe A Stone Forest Company Globally Connected RSM International Need Help with XBRL Reporting? iu rc turnaround c.** nra tjme Over reports since 8,000 Nov 2007 *Terms conditions apply www.AccountServe.com.sg xbrl@accountserve.com.sg T +65 6222 6868 Doris Dong General Manager Link Hotels International Our business requires us to travel across the
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      494 10 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
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      1657 11 A Special Feature Brought to You By Singapore Management University Protecting mobile devices from attack Professor Robert Deng of SMU is leading a team to address challenges in mobile computing security IN 2013, researchers in Singapore managed to get past security checks in Apple’s iTunes store, successfully uploading applications that
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  • REAL ESTATE
    • Article
      Lock icon M&L Hospitality buys 2 hotels in London and Brussels
      401 12  -  Acquisitions boost its asset portfolio to over S$1.7b in hotel and commercial properties across Asia-Pacific, Europe By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore SINGAPORE-BASED M&L Hospitality has acquired two hotels in London and Brussels for an undisclosed amount, boosting its asset portfolio
      401 words
    • Article
      Lock icon Alarm sounds over Sweden’s soaring home prices, debt
      430 12 BLOOMBERG Stockholm THE data are relentless: house prices keep rising, mortgage burdens keep growing, disbelief keeps mounting. “To say that it’s not a threat, not a potential problem, that would be totally wrong,” Michael Wolf, the chief executive officer of Swedbank AB
      BLOOMBERG  -  430 words
    • Article
      Lock icon US self-storage Reit Extra Space to buy peer for US$1.4b
      290 12 BLOOMBERG Los Angeles EXTRA Space Storage Inc agreed to buy SmartStop Self Storage Inc, a Cali-fornia-based non-traded real estate investment trust, for about US$1.4 billion to expand its property holdings as the self-storage industry grows. Extra Space will pay US$1.29
      BLOOMBERG  -  290 words
    • Article
      Lock icon UEM Sunrise seeks UK, Aussie land to buffer risk
      524 12 BLOOMBERG Kuala Lumpur UEM Sunrise Bhd wants to acquire land in the UK and Australia after a glut of high-rise homes in a southern region where the Malaysian developer is the biggest landowner dents demand. UEM Sunrise plans to sell some
      BLOOMBERG  -  524 words
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      Lock icon Swiss find Goldilocks formula for housing market
      751 12 BLOOMBERG Zurich WHEN it comes to the housing market, the Swiss might be achieving what Goldilocks wanted in a porridge: getting it just right. Unable to raise interest rates for fear of pushing up the franc, authorities tackled a residential property boom with
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    • Article
      Lock icon UK asset firm closer to sale of £13b of mortgage loans
      290 12 BLOOMBERG London THE UK government is moving to the second stage in the sale of £13 billion (S$27.2 billion) in mortgage loans after closing first round bids. “We expect round two of the process to start by the end
      BLOOMBERG  -  290 words
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      111 12 4 6 LORONG 24 GEYLANG A Pair Of 2-Storey Shophouses With Development Potential Freehold. Zoned Residential Institution. Plot Ratio 2.8 (Up to 8-Storeys) Total Site Area: Approx. 2,900 sq ft Total GFA: Approx. 3,400 sq ft (subject to final survey) Approx. 380 m to Aljunied MRT Surrounded by abundance of
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      116 12 SINGAPORE SHOPPING CENTRE 11 Contiguous Commercial Units Sizes From 409 Sq Ft Onwards Contact: Investment Properties 6 Battery Road, #32-01 Singapore *****9 Yap Hui Yee (9852 3687) (CEA Reg No.:R*****5Z) Sammi Lim (9368 9803) ICEAReg No. R*****9J) Total strata area: 7,061 sq ft Individual unit size from 409 sq ft
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      30 12 3Need a room flat? If you're looking to buy or rent an HDB apartment, turn to the Print Classified Properties section. To advertise, call the Print Classified Hotline: 1800-289 9988.
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  • BANKING & FINANCE
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      76 13 NOTICE TO PREFERENTIAL CREDITORS OF INTENTION TO DECLARE DIVIDEND Name of Company M Asia Travel Pte Ltd (In Creditors’ Voluntary Liquidation) Company registration no *****0083R Address of former registered Office 133 New Bridge Road #03-07 Chinatown Point Singapore *****3 Last Day for Receiving Proofs 30 June 2015 Name of Liquidator(s)
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Pests, El Nino seen removing global rice glut
      1067 14 Just when food costs are the lowest in over 5 years, rice may surge over 40% if monsoon-season rains falter BLOOMBERG REUTERS Bangkok A RICE glut that sent prices slumping more than a year ago is shrinking, just as El Nino arrives
      BLOOMBERG; REUTERS; PHOTO: AFP  -  1,067 words
    • Article
      Lock icon US family offices form syndicate to fund climate change solutions
      530 14 BLOOMBERG New York ROB Day wants to invest hundreds of millions of dollars in clean technology on behalf of a wealthy family without relying on Silicon Valley. That’s why his firm co-founded Cleantech Syndicate in 2010, a network of like-minded
      BLOOMBERG  -  530 words
    • Article
      Lock icon Dozens of US firms betting on nuclear power revolution: report
      504 14 Advanced nuke plants have attracted private investments from more than 40 companies REUTERS Washington THE Pentagon’s top arms provider and firms partly funded by Silicon Valley billionaires Bill Gates and Paul Allen are among dozens of companies collectively betting more
      REUTERS  -  504 words
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      155 14 This Father’s Day, celebrate the special bond you share with Dad at our Daddy-Daughter Gourmet High Tea, held in conjunction with the Singapore Committee for UN Women. Enjoy three indulgent tiers of premium tapas, classic finger sandwiches and delicate sweet treats. Indulge in a à la minute selection of signature
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  • TECHNOLOGY
    • Article
      Lock icon Airbnb, Amazon land on French Senate’s tax radar as sales soar
      681 15 This is part of an effort by countries to come to grips with booming Web-based shared economy and marketplaces BLOOMBERG Paris FRANCE is trying to squeeze more out of Web businesses such as eBay Inc, Amazon.com Inc and Airbnb
      BLOOMBERG  -  681 words
    • Article, Illustration
      Lock icon Google partners 5 major orchestras for Classical Live service
      658 15 AFP New York GOOGLE has teamed up with five leading orchestras in a bid to draw more classical music lovers to digital music as the streaming sector booms. Dubbed Classical Live, the initiative will offer exclusive recordings through the Internet giant’s
      AFP; PHOTO: CHRIS LEE/NEW YORK PHILHARMONIC  -  658 words
    • Article
      Lock icon Password manager LastPass admits hacker breach
      353 15 NYT New York LASTPASS, the online password manager, announced in a blog post that its network was breached and that hackers made off with user email addresses, password reminders and encrypted master passwords. Within the security community, password managers have long been controversial. Some
      NYT  -  353 words
    • Article, Illustration
      Lock icon Gap to shut one in four N American stores
      827 16 Of the 175 that will be closed, 140 will be in the current fiscal year ending January NYT New York GAP announced on Monday that it planned to close one-fourth of its stores in North America over the next few years,
      NYT; PHOTO: REUTERS  -  827 words
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      267 15 TiT fT V, r' rf 4 K -A >t -~5flPAS.fc Flavours of Ramadan 18 June to 17 July 2015 Relive the traditions of the holy month of Ramadan with your family and friends as you enjoy the daily Iftar buffet at Asian Market Cafe. Sunday to Thursday 6pm to 10pm
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      3740 16 SMRT CORPORATION LTD (Incorporated in the Republic of Singapore) Company Registration No.: *****1855H (the “Company”) NOTICE OF SIXTEENTH ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Sixteenth Annual General Meeting of the Company will be held at Canning Room, Level 4, Raffles City Convention Centre, 252 North Bridge Road,
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  • GOVERNMENT & ECONOMY
    • Article
      Lock icon Jakarta vows to facilitate work permits for expats
      842 17  -  Investment board chief’s assurance comes as foreign firms complain of delays amid lack of qualified staff By Jeffrey Hutton btworld@sph.com.sg Jakarta AMID collapsing foreign direct investment (FDI) and a slowing economy, Indonesia’s “chief salesman”, Franky Sibarani, said he was hopeful his agency
      842 words
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      Lock icon May housing starts dip after hefty April gains; building permits soar
      454 17 LATEST US DATA REUTERS Washington US HOUSING starts fell in May after a hefty increase the prior month, but a surge in permits for future construction to a near eight-year high pointed to underlying strength in housing. The steadily
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      Lock icon EU’s highest court backs 2012 bond-buying plan
      607 17 It says programme does not exceed ECB powers in relation to monetary policy BLOOMBERG Luxembourg THE European Central Bank’s (ECB) 2012 bond-buying programme won the backing of the European Union’s highest court, expanding ECB president Mario Draghi’s crisis-fighting arsenal. The EU Court of
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    • Article
      Lock icon RBA restates need for currency drop to balance below-average growth
      413 17 BLOOMBERG Sydney AUSTRALIA’S central bank reiterated the need for deeper currency declines to balance economic growth that’s predicted to remain below average until the latter part of 2016. “A lower exchange rate would have an immediate beneficial effect on some
      BLOOMBERG  -  413 words
    • Article
      Lock icon Investor confidence in Germany down in June
      321 17 BLOOMBERG Frankfurt GERMAN investor confidence fell for a third month as the risk of a Greek debt default stoked uncertainty in Europe’s largest economy. The ZEW Centre for European Economic Research in Mannheim said that its index of investor and analyst expectations, which
      BLOOMBERG  -  321 words
    • Article
      Lock icon Indonesia, Malaysia at risk of repeating 1997-98 meltdown
      894 18 There are worrying signs that original sin is returning, warns Bank of America Merrill Lynch economist BLOOMBERG Hong Kong THE last time South-east Asia mixed a heady cocktail of foreign borrowing with weakening currencies, the hangover was a financial crisis. Now, Indonesia
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      Lock icon US seniors’ fortunes hold steady in post-recession years
      988 18 They are supported by Social Security income, pensions and investments NYT waxahachie, Texas MOST Americans suffered serious losses during and after the recession, knocked off balance by layoffs, stagnant pay and the collapse of home values. But apart from the super rich,
      NYT; PHOTO: NYT  -  988 words
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      Lock icon Beijing seen trying new ways to cut borrowing costs
      619 18 REUTERS Beijing CHINA is looking for new ways to lower stubbornly high long-term borrowing costs and stop the fruits of its looser monetary policy being pumped into speculative plays instead of supporting its slowing economy, policy insiders say. Beijing has attempted
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    • Article
      Lock icon Woman among five shortlisted for top Bank of Thailand job
      523 18 BLOOMBERG Bangkok A FORMER International Monetary Fund economist, a woman and a central banker who defended the baht before it was floated 18 years ago are among the likely candidates to be the new governor of the Bank of Thailand
      BLOOMBERG  -  523 words
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  • TRANSPORT
    • Article
      Lock icon Competition and cooperation need to co-exist in liner shipping
      803 19  -  Doing away with vessel-sharing alliances could shrink the field and blunt competition STRAIT TALK BY DAVID HUGHES FOR those of us who learnt our trade in the days of conventional cargo liners, the watershed between “then” and “now” was the arrival
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      Lock icon Paris show shifts focus from deal-making to plane-making
      1087 19 REUTERS Paris AFTER the marketing triumphs of recent years, manufacturing moved into the spotlight on the opening day of the Paris Air Show as planemakers Airbus and Boeing battle to deliver a record US$1.8 trillion backlog of orders. There was still the
      REUTERS; PHOTO: BLOOMBERG  -  1,087 words
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      Lock icon AirAsia falls further amid fresh accounting-method concerns
      592 19  -  AllianceDBS questions its depreciation policy; airline chief rubbishes GMT report By Pauline Ng btworld@sph.com.sg Kuala Lumpur SHARES of AirAsia continued to come under selling pressure on Tuesday amid concerns its accounting treatment might be misleading even as the budget airline’s founder, Tony Fernandes,
      PHOTO: BLOOMBERG  -  592 words
    • Article
      Lock icon Iran to unload 40m barrels once nuclear deal is signed
      581 19 REUTERS London IRAN is storing as much as 40 million barrels of oil on supertankers at sea as it prepares for a sales drive if a nuclear deal can be sealed. Iran and six world powers are seeking to overcome
      REUTERS  -  581 words
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      Lock icon Runway reconstruction has JFK preparing for summer delays
      1183 20 FAA changes air traffic control procedures to minimise congestion; airlines cut some flights NYT New York IN mid-March, travellers trying to fly out of John F Kennedy International Airport (JFK) got a bitter taste of the misery that can prevail when a
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      Lock icon Outsider guides easyjet out of turbulence into profits
      1518 20 McCall’s success in big part due to expanding beyond tourism into business travel NYT London EARLY in a May conference call with journalists to discuss easyjet’s first-half results, Carolyn McCall, the low-cost airline’s chief executive, seemed puzzled to find herself being grilled
      NYT; PHOTO: BLOOMBERG  -  1,518 words
    • Article
      Lock icon Honda scores big with tiny SUV in US market
      423 20 BLOOMBERG Tokyo HONDA Motor Co just made the biggest splash with a tiny SUV the US car market has ever seen. Even before starting an advertising campaign, Honda has sold 6,381 of its new HR-V crossover in two weeks, triple what
      BLOOMBERG  -  423 words
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    1783 21 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 OCEAN PROCEED 1 60 21/6 23/6 27/6 29/6 POSITIVE STAR 107 100 28/6
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      104 21 Experienced sh;p maintenance services wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 SHIPPING TIMES Make A Splash In The Maritime World Via s|£i maritime.coM Ahoy there! If you are in a business pertaining to any sector of the maritime
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  • OPINION
    • Article
      Lock icon Fed will be very careful about hiking rates – but it’s about time
      575 22 Fed will be very careful about hiking rates but it’s about time FEARS of a US interest rate hike are back yet again, this time for good. The Federal Open Market Committee (FOMC) meeting which comes with a press conference ends on Wednesday. EDITORIAL The market should be under no
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      Lock icon Sino-American ties would benefit from less jingoism
      788 22  -  THE BOTTOM LINE By Leon Hadar AMERICAN politicians are preparing for the 2016 presidential election. So it is not surprising that they are doing what they think would help them win more votes next year engaging in China bashing. Hence New Jersey Governor
      788 words
    • Article, Illustration
      Lock icon Merits of outsourcing non-core functions
      1072 22  -  It frees up company time and resources, allowing management to focus on core competencies. BY DAVID ONG competencies.BY DAVID ONG T The writer is Asean corporate services leader, global compliance and reporting, at EY in Singapore TO punch above their weight in today’s fiercely competitive
      PHOTO: THE STRAITS TIMES  -  1,072 words
    • Article
      Lock icon Climate change – the time for action is running out
      937 23  - Climate change the time for action is running out COMMENTARY By By Michael Pulch, Gerard Cockx, Michael witter, Benjamin Dubertret and Scott wightman T The writers are European ambassadors to Singapore. Dr Pulch is the EU ambassador to Singapore; Mr Cockx (Belgium); Dr Witter (Germany); Mr Dubertret (France) and Mr
      937 words
    • Article
      Lock icon Greece – a credible deal requires difficult decisions by all sides
      753 23  - Greece a credible deal requires difficult decisions by all sides By Olivier Blanchard T The writer is chief economist and director of research at the IMF THE status of negotiations between Greece and its official creditors the European Commission, the ECB (European Central Bank) and the IMF (International Monetary Fund)
      753 words
    • Article
      Lock icon A pretentious ‘watching brief’ on the changing scene at SGX
      552 23  -  LETTER TO THE EDITOR Narayana Narayana ONE could confidently expect the Singapore Exchange (SGX) to hold its own against all comers. In such a scenario, the “watching brief” by the writer of the letter “Expectations of incoming SGX CEO should
      552 words
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      Lock icon Greek debacle will see victors among the vanquished
      966 23  -  There will be benefits from a clarification of Greece’s relationship with the EU.BY EU.BY DAVID MARSH T The writer is founder and managing director of the Official Monetary and Financial Forum OMFIF BRIEFING IN the looming debacle over Greece’s membership of European
      OMFIF BRIEFING; PHOTO: BLOOMBERG  -  966 words
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon America’s got heart as giving rises for fifth straight year
      663 24 About US$358b pour in for charitable causes in 2014; individual giving accounts for 54% of growth NYT New York CHARITABLE giving in the United States rose for the fifth year in a row in 2014, rebounding past a pre-recession peak
      NYT; PHOTO: BLOOMBERG  -  663 words
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      Lock icon Chocolate may be good for heart
      408 24 AFP Paris NEW research has added to tentative evidence that eating chocolate in modest quantities may be good for the heart, its investigators said on Tuesday. Scientists in Britain looked at data from nearly 21,000 people who filled out questionnaires about their lifestyle, and
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      Lock icon High-end, bilingual wine monthly launched
      261 24 AFP Bordeaux A HIGH-END monthly magazine and website available in English and Chinese titled Le Pan launched in France’s wine mecca Bordeaux on Monday at the world’s biggest wine fair, Vinexpo. Based in Hong Kong, the wine-focused glossy will be destined for monied globetrotters and
      AFP; PHOTO: AFP  -  261 words
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      Lock icon Modi’s Yoga Day creates a buzz
      712 24 NYT New Delhi ON a sticky morning last week, deputy commissioner Chandra Shekhar Sahukar of India’s Agriculture Ministry (animal husbandry department, small ruminant section) found himself in a yoga class for the first time in his 57 years, miserably grasping his ankle. In his
      NYT; PHOTO: REUTERS  -  712 words
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  • Page 24 Miscellaneous
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      Lock icon Page 24 Miscellaneous Column 1
      330 24 CRYPTIC CROSSWORD Across 1 What might be played by graduates during tennis match? (6,4) 6 Keeps still, stifling attention-seeker (4) 10 Check around the front of son’s gum (5) 11 Critical point for lake to the west of Slough (9) 12 Paper with price increase, daily that’s seen in the
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  • EXECUTIVE MONEY
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      433 26 9 OSH MASTERCLASS SERIES Tax Investigation Masterclass 2015 Our inaugural event under the OSH Masterclass Series will assemble a select group of tax, accounting and legal practitioners to discuss the current issues in Tax Investigation. We welcome participants from accounting, legal, and other industries to add to the richness of
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      346 26 HEDGING ON ETFs Shelter from currency shocks draws record cash to hedged ETFs 25 ‘ROBO-ADVISERS’ Nutmeg expects more clients to switch to online wealth advisers 25 seven seas cruises* The Inclusive Regent Experience COMPLIMENTARY Unlimited Shore Excursions Specialty Restaurants Unlimited Beverages Including Fine Wines Premium Spirits Open Bars And Lounges
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