The Business Times, 20 June 2015

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Microfilm: NL33513
Total Pages: 41
1 16 The Business Times
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  • TOP STORIES
    • Article
      Lock icon ‘We were misquoted on high-speed rail article’
      393 2  -  Malaysia’s land transport agency denies suggesting that rail should end in JB By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore MALAYSIA’S Land Public Transport Commission (SPAD) said on Friday that its chief was misquoted in a news report as having suggested that the high-speed rail
      393 words
    • Article
      Lock icon Greek point of no return could come on July 20
      386 2  -  REUTERS BREAKINGVIEWS By George Hay THE Greek crisis has an air of the endgame about it. Eurozone finance ministers failed on June 18 to strike agreement on a new bailout. International Monetary Fund (IMF) boss Christine Lagarde and European Central
      386 words
    • MARKETS
      • Article
        Lock icon STOCKS
        57 2 GSTI 3,300.96 (+0.54) ESTI FUTURES 3,301.00 GSIMSCI 372.43 (+0.32) GSIMSCI FUTURES 372.60 (+1.00) Friday Change KL COMP 1,721.77 +3.65 NIKKEI 225 20,174.24 +183.42 HANG SENG 26,760.53 +65.87 SET 1,491.46 -16.58 JAKARTA 4,985.01 +39.51 MANILA 7,601.17 -5.69 KOSPI 2,046.96 +5.08 SHENZHEN B 1,514.01 -41.74 MUMBAI IND 27,316.17 +200.34 11.50am EDT
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.35 MALAYSIA 6.85 HONG KONG 5.00 INDONESIA 14.608 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.85 SWITZERLAND 0.50 INDIA 14.75 Source: Bloomberg
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      • Article
        Lock icon FOREX
        49 2 US$ S$ US$ (S$ per US$) 1.337 (US$/S$ per 1.585 2.119 EURO (US$/S$/€ 1.132 1.513 Foreign currency per US$ S$ YEN 123.10 92.10 RM 3.737 2.796 HK$ 7.753 5.800 BAHT 33.67 25.19 RUPIAH 13,335 9,976 RENMINBI 6.209 4.645 INDIAN RUPEE 63.82 47.74 A$ 1.288 0.964 NZ$ 1.448 1.083
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    • Article, Illustration
      Lock icon Singapore unlikely to host Asian Games or Commonwealth Games
      595 4  -  Lawrence Wong points to the lack of space or infrastructure to meet the events’ demands By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore IT is unlikely that Singapore will host larger-scale multi-sport events such as the Asian Games and Commonwealth Games anytime soon,
      595 words
    • Article, Illustration
      Lock icon Seagate opens design centre to focus on mobile-storage products
      584 5  -  Lim Hng Kiang pledges government’s continued support for growing the sector By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore SINGAPORE on Friday reaffirmed its commitment to supporting the growth of the data storage and broader electronics industry at the opening of Seagate’s S$100
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    • Article
      Lock icon Europe banks head for Asia to boost capital
      781 6 They seek to diversify funding amid higher capital issuance requirements at home Bloomberg Singapore EUROPEAN banks are heading to Asia for capital as new rules at home demand they sell more than US$1 trillion of equity and subordinated debt to increase loss
      Bloomberg  -  781 words
    • Article, Illustration
      Lock icon HSBC volunteers spiff up homes of 245 families
      333 6  -  By Elizabeth Mak eamak@sph.com.sg Singapore FOR two days this week, 700 employees of HSBC and volunteers from the bank’s corporate partners fanned out to the homes of 245 low-income families, where they rolled up their sleeves to clean and paint the living
      333 words
    • Article, Illustration
      Lock icon S Koreans censure govt for inadequate response to Mers
      704 7 Specialists blame combination of bureaucratic inefficiency, poor crisis management and training AFP Seoul SOUTH Korea’s growing Mers outbreak has laid bare the country’s poor handling of disasters despite President Park Geun Hye’s pledge to overhaul public safety measures following last year’s
      AFP; PHOTO: AFP  -  704 words
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      49 2 CONTENTS LIVING Dining L2-8 Design L9 Living L10-12 NEWS Top Stories 2-7 Raffles Conversation 8-9 Companies Markets 10-14 Real Estate 15-16 Banking Finance 17 Energy Commodities 18 Technology 19 Consumer 20 Transport 21 Govt Economy 22-25 Opinion 26-27 Wealth 28-30 Life Culture 31 Travel L13 Motoring L14-15 Sports L16
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  • Page 3 Advertisements
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      743 3 ADVERTORIAL BY CONTENT GROUP INTERNATIONAL WWW.CONTENTGROUPINTERNATIONAL.COM WORDS Laura Ranin Invest into Malaysia for your profit Malaysia provides vast business opportunities for companies looking for growth in Asia Pacific. Its prime location in the middle of Asia, rich pool of talent, business-friendly legislation, undeniable cost competitiveness, and cultural affinity to Singapore
      743 words
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      Lock icon Page 5 Advertisements Column 1
      15 5 Brand Your Assets Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your Financial Statements
      15 words
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      Lock icon Page 5 Advertisements Column 2
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      236 words
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      Lock icon Page 7 Advertisements Column 1
      1326 7 Net Pacific Financial Holdings Limited (Incorporated in Singapore on 9 January 2003) (Company registration no. *****0326D) NOTICE OF EXPIRY OF W*****1 WARRANTS ON 21 JULY 2015 TO: ALL HOLDERS OF W*****1 WARRANTS (“WARRANTS”)TO SUBSCRIBE FOR NEW SHARES IN THE CAPITAL OF NET PACIFIC FINANCIAL HOLDINGS LIMITED (THE “COMPANY”) THIS IS
      1,326 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon China’s celebrity economist
      2590 8 / 9  -  Justin Lin Yifu talks about his economic philosophy and his prescriptions for China. By Vikram Khanna ON the evening of May 16, 1979, a Taiwanese military officer named Lin Zhengyi plunged into the waters off Taiwan’s Quemoy island where he was commander, and swam for more than
      FILE PHOTO  -  2,590 words
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Week when market slides on triple woes
      665 10  -  STOCKS| Kenneth Lim kenlim@sph.com.sg @KennethLimBT Correspondent SINGAPORE shares lost 1.6 per cent over the past week as the local market was afflicted by wariness over interest rates, Greece and China. The traits Times Index closed at 3,300.96 on Friday, a modest gain of
      665 words
    • Article
      Lock icon M1 rolls out mobile point-of-sale solution
      290 10 This turns smartphones and tablets into terminals for payment by plastic Singapore M1 Limited has launched a mobile Point of Sale (mPOS) solution which transforms smartphones and tablets into terminals so merchants can accept credit, debit and prepaid card payments. This is a collaboration
      290 words
    • Article
      Lock icon DBS bonds: top rating, cover pool of nearly S$5b mortgage loans
      328 10  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore DBS Bank’s covered bonds programme, which has been assigned an expected top rating from Fitch ratings, would be secured against loans valued at close to S$5 billion for private properties, several of which
      328 words
    • Article
      Lock icon SingPost sheds stakes in traditional business
      414 11  -  It divests 90% stake in DataPost to Jing King Tech Solutions for about S$39.3 million By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore SINGPOST has sold stakes in the more traditional forms of the postal service business as it drives more focus into its e-com-merce segment.
      414 words
    • Article
      Lock icon Singapore market has edge over regional peers: analysts
      477 11  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore A RECENT correction in Singapore stocks has made the local market a more attractive bet vis-a-vis its regional peers on two fronts: valuation and yield. While concerns remained over a domestic manpower crunch, elevated business costs,
      477 words
    • Corporate Digest
      • Article
        Lock icon International Healthway Corp
        91 11 INTERNATIONAL Healthway Corporation (IHC) on Friday unveiled a proposed acquisition of all the shares of Healthway Medical Corporation through a scheme of arrangement. IHC will acquire the shares of Healthway at S$0.10 apiece. It will pay for this by allotting and issuing new IHC shares at S$0.45
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      • Article
        Lock icon CapitaLand
        75 11 CAPITALAND on Friday said that CMA Japan Trust plans to acquire Vivit Minami Funabashi a shopping mall in Greater Tokyo for 3.05 billion yen (S$33.2 million). Vivit is a shopping mall located in Funabashi city in Chiba Prefecture. Vivit is part of the portfolio of assets held by CapitaMalls
        75 words
      • Article
        Lock icon Serial System
        51 11 SERIAL System said that it has taken a S$3.5 million stake in satellite communications equipment provider Global Invacom. Through its subsidiary SCE Enterprise, Serial has bought 12 million treasury shares at S$0.29 each of Singapore-listed Global Invacom, which would give Serial a 4.5 per cent stake in Global
        51 words
    • Article
      Lock icon Norway wealth fund to avoid high-frequency trading in Asia
      285 11 Bloomberg Oslo NORWAY’S US$890 billion fund, which considers high-frequency trading (HFT) a scourge in global financial markets, is taking steps to avoid the practice as it spreads in Asia. The fund, which owns about 1.3 per cent of the world’s equities,
      Bloomberg  -  285 words
    • Article
      Lock icon STI STOCKS
      308 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 245 unch 250/243 271 219 6 6199.5 CapitaLand 336 +5 340/333 379 293 12.3 2.7 *****.2 CapitaMall Trust 209 -1 212/208 228 188.5 5.2 7251.7 CityDev 958 -11 968/955 1095 915 11.5
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    • Article
      Lock icon SGX ETFs Most Active
      106 12 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 335 2791 336/335 355/319 334/336 UETF SSE50China 288 -17 590 306/282 340/140 290/291 90 DBXT MSAsExJp US$ US3706 +14 72 3706/3706 4064/3261 3697/3709 8.5 DBXT MSBANGL US$ US101.7 +1.3 70 101.7/101.7 116/87.2 101.3/101.8 4.2
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    • Article
      Lock icon SIBOR
      28 12 Jun 19 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 1.***** SWAP Offer rates 1 mth 0.***** Source: Thomson Reuters
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      800 12 For week beginning Jun 15 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Fragrance Grp 18-Jun-15 Koh Wee Meng Buy 2000 0.21 *****00 74.11 *****00 74.14 Fragrance Grp 18-Jun-15 Lim
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 12 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 9 4 0 0 0 3 9 4 Manufacturing 38 45 40 7 7 10 45 52 50 Commerce 26 17 13 6 1 6 32 18 19 Tpt/Stor/Comms 19 13 5
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 12 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 16,607 16,607 66,409 66,409 Manufacturing 97,635 99,148 196,783 113,521 4,279 117,799 Commerce 101,056 55,242 156,298 99,084 2,664 101,748 Tpt/Stor/Comms 121,565 693 122,258 163,964 50 164,014 Finance 15,880 561 16,441 159,099 101 159,201 Construction 72,487 12,263
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 12 Jun 19 VALUE CLOSE BT OB/OS -350.00 +163.00 BT CADI -*****.00 +61.00 BT 10-day MA -*****.00 -35.00 FTSE ST Mid Cap 767.67 +2.96 FTSE ST Small Cap 481.61 +2.70 FTSE ST All Share 795.19 +0.85 FTSE ST China Top 206.35 +0.96 FTSE ST China 240.94 -1.49 FTSE
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    • Article
      Lock icon UNUSUAL ACTIVITY
      81 12 VOL CLOSE($) CHANGE Hengxin Tech 1,216.0 0.430 +0.050 +13.16 LifeBrandz 34,011.3 0.006 -0.002 -25.00 China Flexpack 1,252.2 0.010 +0.001 +11.11 OEL 6,509.6 0.039 +0.004 +11.43 Joyas Intl 40,685.7 0.023 +0.003 +15.00 HPL 374.0 3.820 -0.300 -7.28 Ley Choon 537.0 0.067 +0.007 +11.67 UG Healthcare 2,391.4 0.315 +0.020 +6.78
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    • Article
      Lock icon COMMODITY FUTURES
      193 13 Jun-18 Price Net change change Last Trade Agricultural Jun-18 CBOT Soybeans (US cents/bu) 977.75 8.75 0.90% 14/07/2015 CBOT Soybean Oil (US cents/lb) 32.25 -0.60 -1.83% 14/07/2015 CBOT Wheat (US cents/bu) 488.00 -3.25 -0.66% 14/07/2014 Jun-18 LIFFE Cocoa (£/tonne) 2145.00 17.00 0.80% 16/07/2015 LIFFE Coffee (US$/tonne) 1888.00 82.00 4.54%
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    • Article
      Lock icon PALM OIL
      57 13 Jun 19 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jul 15 2240.0 2232.0 2250.0 2222.0 632 7958 Aug 15 2230.0 2236.0 2258.0 2227.0 4174 ***** Sep 15 2229.0 2237.0 2260.0 2227.0 ***** ***** Oct 15 2231.0 2239.0
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    • Article
      Lock icon GOVERNMENT SECURITIES
      69 13 Jun 19 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.49 102.53 102.51 5-Year N*****0H 1.625 01-Oct-19 99.74 99.85 99.70 10-Year NX*****Z 2.375 01-Jun-25 99 99.05 99.00 15-Year NY*****E 2.875 01-Jul-29 101.47 101.65 101.50 20-Year NZ*****V 3.375 01-Sep-33 106.78
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 13 Jun 19 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0370 1.0379 0.7759 0.7765 Canadian dollar 1.0929 1.0934 0.8180 0.8177 Euro 1.5125 1.5129 1.1317 1.1318 NZ dollar 0.9229 0.9234 0.6905 0.6908 Sterling pound 2.1186 2.1195 1.5852 1.5856
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    • Article, Illustration
      Lock icon STOCK MARKETS
      2 13
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    • Article
      Lock icon BONDS, WARRANTS, PREFERENCE SHARES
      202 13 Most active Jun 19 Prem Expiry Last Vol Conv Exer Disc Gear-Mths Company Sale +or-('000) Ratio Price ing Left FTSEChinaA50 ***** MBeCW*****0 3 -1.9 6211 0.0 --1 FTSEChinaA50 ***** MBeCW*****9 10 0.8 4135 0.0 3 KepCorp MB eCW*****2 8.2 -0.3 2799 0.2 915 5 FTSEChinaA50 *****
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT’L INDICES
      373 13 In local curr In S$ In US$ dy yr dy yr dy yr Jun 18 Index Change Change Change Change Change Change World Preliminary 1341.2 0.6 5.1 -0.1 4.8 1.1 4.2 EAFE Preliminary 1065.9 -0.1 8.0 0.0 6.6 1.1 6.0 Europe Preliminary 1475.0 0.3 6.8
      373 words
    • Article
      Lock icon Noble wraps up sale of Mongolian coal unit
      767 14  -  Disposal marks end of a roller coaster week involving wrangle with critics and share buybacks By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore ASIA’S largest commodities trader Noble Group has closed the disposal of its wholly owned Mongolian coal subsidiary Enkhtunkh Orchlon LLC
      767 words
    • Article, Illustration
      Lock icon Housing glut to worsen before tapering from 2017: UOB report
      663 14  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore SINGAPORE’S housing glut will worsen in the near future as more public and private units come on stream and only start to ease from 2017, with the government potentially reviewing property cooling measures, a
      Sources: UOB, URA, HDB  -  663 words
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  • REAL ESTATE
    • Article, Illustration
      Lock icon More help for buyers of resale flats near parents’
      543 15  -  MND will look into how it can be done, says Khaw Boon Wan By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore THE Ministry of National Development (MND) will look into how it can provide more help to those who wish to buy a
      PHOTO: BLOOMBERG  -  543 words
    • Article, Illustration
      Lock icon China’s Dalian Wanda raises 5b yuan in crowdfunding
      237 15 Reuters Hong Kong DALIAN Wanda Group, China’s largest commercial property developer, said it raised five billion yuan (S$1.07 billion) last week from investors online and will also use crowdfunding to refinance another 5 billion yuan in two weeks. Major Chinese real estate
      Reuters  -  237 words
    • Article
      Lock icon KKR invests in single-tenant commercial property in US
      433 15 It takes a stake in Drawbridge Realty, which manages real estate for companies Bloomberg Seattle KKR Co made its first investment in single-tenant commercial real estate, a market in which US$50.8 billion of US properties changed hands last year, by taking a
      Bloomberg  -  433 words
    • Article
      Lock icon Househunt
      1286 16 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN MAY 6 AND MAY 12, 2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 4 NON-LANDED Caribbean At Keppel Bay Apt 08/05/2015 99 1227 1845 1504 Reflections At Keppel Bay
      1,286 words
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  • BANKING & FINANCE
    • Article
      Lock icon Asia hedge funds hit record on China rally
      601 17 China’s market capitalisation has almost doubled to US$9.6t this year Bloomberg Singapore ASIA’S hedge funds boosted their assets to a record US$177 billion in May by riding a Chinese stocks rally that’s now starting to falter. Investments by funds with an Asia
      Bloomberg  -  601 words
    • Article
      Lock icon EU finance chiefs agree on draft law tackling big banks
      369 17 Deal reached after France secures last-minute change Bloomberg Brussels EUROPEAN Union (EU) finance ministers struck a deal on a law on tackling too-big-to-fail banks after France secured a lastminute technical change to planned exemptions for UK lenders. France had scuppered
      Bloomberg  -  369 words
    • Article, Illustration
      Lock icon Closing auction will curb abuse, says HKEx chief
      363 17 Bloomberg Hong Kong HONG Kong Exchanges Clearing Ltd (HKEx) chief executive officer Charles Li said the proposed reintroduction of daily closing auctions for equities will mitigate market manipulation and make trading smoother for institutions. The planned system, which seeks a single price
      Bloomberg; PHOTO: BLOOMBERG  -  363 words
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  • ENERGY & COMMODITIES
    • Article
      Lock icon Debt may be US shale players’ undoing
      855 18 Drillers are devoting more revenue than ever to interest payments after oil prices fell 43% in the past year Bloomberg New York THE debt that fuelled the US shale boom now threatens to be its undoing. Drillers are devoting more revenue than ever
      Bloomberg  -  855 words
    • Article, Illustration
      Lock icon China steelmakers deepen production cuts
      683 18 Bloomberg Beijing CHINESE steelmakers are deepening the first production cuts in a quarter century as the bull market in iron ore drives up costs and squeezes profits. Crude steel output will shrink as much as 2 per cent this year, according to the China Iron
      Bloomberg; PHOTO: REUTERS  -  683 words
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  • TECHNOLOGY
    • Article
      Lock icon Samsung smartphones at risk of being hacked
      625 19 The word prediction software could give hackers control of the entire device WP Washington MORE than 600 million Samsung mobile devices including the Galaxy S6 are vulnerable to a security breach that could allow hackers to take control of the devices, according to
      WP  -  625 words
    • Article, Illustration
      Lock icon Venture capitalists eager to invest in startup drone makers
      946 19 Bloomberg Dallas STARTUP drone makers are finding record amounts of funding as venture capitalists prowl for early winners in what may become an US$82 billion industry. From Silicon Valley to New York, firms including Kleiner Perkins Caufield Byers, Lightspeed Venture Partners
      Bloomberg  -  946 words
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  • CONSUMER
    • Article, Illustration
      Lock icon German discounter takes on Aussie duopoly
      827 20 Aldi plans to ship fruit and vegetables direct from farms in the country to its stores Reuters Sydney FRESH fruit and vegetables are the new front line in Aldi Inc’s assault on Australia’s US$70 billion supermarket sector, as the German discounter looks to beat
      Reuters; PHOTO: REUTERS  -  827 words
    • Article
      Lock icon WSJ cuts jobs and closes some bureaus
      609 20 NYT New York DOW Jones, the parent company of The Wall Street Journal, began a sweeping round of job cuts on Thursday, including eliminating entire teams of reporters and closing international bureaus. In a memo to the staff on Thursday, The Journal’s edi-tor-in-chief,
      NYT  -  609 words
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  • TRANSPORT
    • Article, Illustration
      Lock icon Toyota in damage control after executive is arrested
      503 21 Communications chief Julie Hamp held on suspicion of illegally bringing in painkillers Reuters Tokyo TOYOTA Motor Corp moved into damage control mode on Friday after its new communications chief Julie Hamp, an American and its first senior woman executive, was arrested on
      Reuters; PHOTO: REUTERS  -  503 words
    • Article
      Lock icon VLCC rates sail into uncharted waters
      400 21 Reuters Singapore RATES for very large crude carriers (VLCCs) on key Asian routes face a mixed outlook next week with charterers keen to cap this week’s rate increases, while owners want to push the market higher, brokers said. “Rates have legs to go further
      Reuters  -  400 words
    • Article
      Lock icon Hijackers of Malaysian tanker escape, crewman shot
      380 21 AFP Kuala Lumpur PIRATES who commandeered a Malaysian-flagged tanker in the South China Sea for a week have escaped from the vessel in a lifeboat, giving warships the slip under cover of night, the country’s naval commander said on Friday. Royal Malaysian Navy
      AFP  -  380 words
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Kuroda quells controversy over his yen comment
      779 22  -  It had sparked a sudden, sharp correction in the currency’s slide By Anthony Rowley btworld@sph.com.sg Tokyo BANK of Japan (BOJ) governor Haruhiko Kuroda sought on Friday to quell the controversy caused by his recent comment that the real effective exchange rate of the
      PHOTO: BLOOMBERG  -  779 words
    • Article
      Lock icon EU bid to plug tax loopholes faces resistance
      346 22 Bloomberg Luxembourg A EUROPEAN Union plan to crack down on corporate tax loopholes ran into German privacy concerns, as EU finance ministers met in Luxembourg on Friday. The European Commission wants countries to share information on tax rulings and pricing arrangements, as
      Bloomberg  -  346 words
    • Article
      Lock icon Economists find China killing US factory jobs
      585 23 Bloomberg Washington A GENERATION of economists trained to believe that trade had little to do with the long decline in high-paying US factory jobs is changing its mind. Their findings are likely to fuel the opposition within President Barack Obama’s own Democratic Party
      Bloomberg  -  585 words
    • Article, Illustration
      Lock icon Australia’s job creation almost as fast as US
      506 24 But diverging demographics have sent jobless rates in opposite directions Reuters Sydney AUSTRALIA is creating jobs at almost the same pace as US’s standout labour market, yet diverging demographics have sent unemployment rates and the public mood in opposite directions. The latest
      Reuters; PHOTO: BLOOMBERG  -  506 words
    • Article
      Lock icon Another rate cut will have little impact, says BOT official
      556 24 Reuters Bangkok THE Bank of Thailand has little room for further monetary policy easing after two interest rate cuts since March, but it will be “comfortable” with a weaker baht to lift the ex-port-dependent economy, a senior official of the
      Reuters  -  556 words
    • Article, Illustration
      Lock icon New US$10 note to be blind-friendly
      712 25 It is slated for 2020 release after decades of campaigning WP Washington THE announcement that a woman will grace the redesigned US$10 bill is overshadowing what could be an equally historic change in the way America’s money feels. The new US$10 note is the
      WP; PHOTO: AFP  -  712 words
    • Article
      Lock icon Thailand takes four days to confirm first Mers case
      613 25 Reuters Bangkok THAI authorities took nearly four days to confirm the country’s first case of Middle East Respiratory Syndrome (Mers), the health ministry said on Friday, a time lag likely to raise fears of a further spread of the deadly virus
      Reuters  -  613 words
  • Page 22 Advertisements
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      Lock icon Page 22 Advertisements Column 1
      60 22 HOT PROPERTY NEW SEMI-D, S'GOON MRT Jln Labu Ayer. 3½sty. 3571/5300sf. 8+1, lift/pool. $5.xM. BELOW VALUE! 3-STY Corner Semi-d Limbok. 3100 4300sf 5-bdrm Nice reno Greenery. BEST DEAL! LI Hwan Dr. FH 1951/ 2700sf, 2 sty loft, 4 rms, face South. Near MRT $2.75M. LANDED PROPERTIES FOR SALE Check out
      60 words
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      Lock icon Page 23 Advertisements Column 1
      442 23 The Business Times NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.sphclass.com.sg/notices -7 THE MONETARY AUTHORITY OF SINGAPORE APPLICATION FOR TAXABLE BOOK-ENTRY SINGAPORE GOVERNMENT BONDS Tenor Total Amount Offered Minimum Denomination MAS 1 Intended Tender Amount 2 Issue Code ISIN Code Issue Date/Settlement Date 1 Maturity Date 1 Coupon Rate Yield and
      442 words
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  • Page 24 Advertisements
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      Lock icon Page 24 Advertisements Column 1
      231 24 KSH HOLDINGS LIMITED (UEN/Company Registration No. *****3337G) (Incorporated in the Republic of Singapore) Notice to holders (the “Noteholders”) of the outstanding S$75,000,000 5.25 Per Cent. Fixed Rate Notes Due 2016 comprised in Series 001 (ISIN: SG58J*****96) (the “Notes”) of KSH Holdings Limited (“KSH”) in respect of the meeting of the
      231 words
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  • OPINION
    • Article, Illustration
      Lock icon The case for good legacy planning
      1235 26 / 27  -  When well-heeled married couples call it quits, where their divorce is heard matters as much as how their assets are divvied up. By Tang Hang Wu By Tang Hang Wu ~The writer is a professor and director of the Centre for Cross-Border Commercial Law
      PHOTO: THE STAR  -  1,235 words
    • Article
      Lock icon Just how safe is Tesla’s home battery system?
      658 26 / 27  -  An Underwriters Laboratories or TUV third-party safety certification may be in order By Dennis Posadas ~The writer is an engineer who edits ‘The Asian Spectator’ tech blog and is the author of ‘Greenergized’ and ‘Jump Start: A Technopreneurship Fable’ PERSONALLY I find
      658 words
  • Page 26 / 27 Miscellaneous
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Commodities more or less delivering as expected
        800 28 / 29 Authors of 2006 paper update their study with data from 2005 to 2014, saying original findings do hold up Reuters New York THE great commodities gold rush of the last decade may not have paid off exactly as investors hoped, but some evidence
        Reuters; PHOTO: AFP  -  800 words
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        Lock icon Robo-investing pits Vanguard against Fidelity in latest rivalry
        589 28 / 29 Bloomberg New York BARRAGED by investment firms eager to manage their life savings, many Americans are making their choice for nobody. They’re shrugging off investment advisers altogether in the hunt for lower costs, Bloomberg Markets magazine reports in its July/August special Rivalry
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      • BROKERS’ TAKE
        • Article
          Lock icon Super Group
          177 28 / 29 Hold DBS Group Research June 19 June 19 close: S$1.12 Target price: S$1.25 WE believe earnings recovery momentum will be back-end loaded beyond H2 2015F. Management may be lining up new products for launch over this period, but regional consumer sentiment remains tepid. While we expect Super’s earnings
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          Lock icon Olam International
          148 28 / 29 Buy Jefferies June 19 June 19 close: S$1.865 Target price: S$2.55 OLAM’S share price has drifted downwards recently on low trading volumes. The fundamentals though seem to be gradually improving. 2015-2018F earnings CAGR could be as high as 28 per cent. Management seems focused on recycling capital from
          148 words
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          Lock icon CSE Global
          124 28 / 29 Hold OCBC Investment Research June 19 June 19 close: S$0.585 Target price: S$0.62 CSE Global Limited (CSE) recently disposed its 66 per cent shareholding in a subsidiary, Power Diesel (PD), for about S$15.5 million. Even without contributions from PD going forward, we do not expect any change in
          124 words
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          Lock icon GuocoLeisure
          213 28 / 29  -  Compiled by Melissa Tan Buy CIMB June 18 June 19 close: S$0.985 Target price: S$1.18 GLH (GuocoLeisure’s hotel arm) is attacking the conventional hotel investment and management business with a new Value Centre General Manager model. Unlike large hotel chains that have centralised decision making, GuocoLeisure emphasises on decentralisation.
          213 words
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      Lock icon Aberdeen turns bullish on India
      707 30 Declining valuations after funds pull money out to chase better returns in China have made country more attractive Bloomberg Mumbai EIGHT months after calling India’s stock rally overdone, Aberdeen Asset Management plc is finding value in Asia’s third-worst performer this year. The reason: China. The
      Bloomberg; PHOTO: BLOOMBERG  -  707 words
    • Article
      Lock icon Stocks emerge as top asset class for the wealthy
      397 30 WP Washington RICH people are raising the stakes. The wealthy are now keeping more of their money in stocks than any other asset class, according to a new report out Wednesday that offers a glimpse into the investing habits and concerns
      WP  -  397 words
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon Dad’s advice helps shatter glass ceiling
      653 31 Top women CEOs fete their fathers who encouraged them to challenge societal norms Bloomberg New York AS a girl growing up in Elberon, New Jersey, Denise Morrison, future chief executive officer of Campbell Soup Co, got a business education from her father. An executive
      Bloomberg; BLOOMBERG  -  653 words
    • Article, Illustration
      Lock icon Fifty Shades’ fans mob NY book signing
      407 31 AFP New York THEY camped out overnight, arrived in trains caught at dawn and devoured the first pages on the sidewalk. Crazed fans mobbed a New York bookstore on Thursday to snap up the latest Fifty Shades of Grey novel. High school girls,
      AFP; PHOTO: AFP  -  407 words
  • Page 31 Miscellaneous
    • Miscellaneous
      Lock icon Page 31 Miscellaneous Column 1
      307 31 CRYPTIC CROSSWORD Across 7 A ploy to alter trailer forvaluable cargo (7) 8 Sign of a healthy elder? (7) 10 Ride party arranged boarded by quiet short-term visitor (3-7) 11 Archbishop once in skirt (4) 12 Film producer’s healthy cheer (8) 14 Throw off course queen in foreign parliament (6)
      307 words
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      137 32 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE VALLÉE DE JOUX. FOR MILLENNIA A HARSH, UNYIELDING ENVIRONMENT; AND SINCE 1875 THE HOME OF AUDEMARS PIGUET, IN THE VILLAGE OF LE B R A S S U S T H E E A R LY WAT C H M
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      55 1 LivingBTTHE BUSINESS TIMES WEEKEND JUNE 20-21, 2015 CHIP OFF THE OLD WOK Sons and daughters of F&B veterans are joining in the family trade L2-5 LIVING Bee Champs L10-12 DINING F&B stalwarts L6-7 DESIGN Humour by design L9 MOTORING Surefire Vellfire L15 TRAVEL Remembering Waterloo L13 PHOTO: YEN MENG JIIN
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  • BT Living
    • DINING
      • Article, Illustration
        Lock icon Chip off the old wok
        1184 2 / 3  -  The children of some F&B veterans are preserving their values and traditions by joining the family business. By Tay Suan Chiang, Rachel Loi and David Yip By Tay Suan Chiang, Rachel Loi, David Yip Lee Tong Kuon and son Adrian FOR over 20 years, from
        PHOTO: YEN MENG JIIN  -  1,184 words
      • Article, Illustration
        Lock icon Exploring culinary options
        961 2 / 3 taysc@sph.com.sg @TaySuanChiangBT Sam Leong and son Joe WHEN he learnt that his son, Joe, wanted to enter the culinary industry, Chef Sam Leong neither dissuaded nor encouraged him to do so immediately. Instead, the 49-year-old presented the facts squarely to his 22-year-old son. “I know that Joe
        PHOTO: SHAWN TEO  -  961 words
      • Article, Illustration
        Lock icon ‘Old school’ charm
        629 2 / 3 rachloi@sph.com.sg @RachelLoiBT Goh Cheng Hian and son Eng Gee, granddaughter Siok Bee, grandson Kok Liang IF YOUR father ran a restaurant for 364 days a year, how would you spend time as a family? Goh Siok Bee, 37, came up with a simple solution she got a
        PHOTO: BEE HEONG PALACE RESTAURANT; PHOTO: BEE HEONG PALACE RESTAURANT  -  629 words
      • Article, Illustration
        Lock icon Three generations in the kitchen
        590 4 / 5 Lee Liat Huat and son Chiang Howe, granddaughter Jasmine IMAGINE a child taking over the reins when the chef was suddenly unavailable, and cooking an oyster omelette good enough for the customer’s table. “That was me!” chortles 25-year-old Jasmine Lee. Since she was five, Jasmine
        PHOTOS: DAVID YIP  -  590 words
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        Lock icon Appeal of continuity
        611 4 / 5 Tan Yong Siang, wife Jenny and son Shaun GENTRIFICATION is the buzzword of the day; and its most rampant example its poster boy has to be Tiong Bahru. Once a warren of kopitiams, mamak stalls and mom-and-pop shops, the neighbourhood today overflows with bistros, patisseries and ethnic-chic
        PHOTOS: DAVID YIP  -  611 words
      • Article
        Lock icon wine&dine
        662 4 / 5 with BTWeekend Atrium Lounge Marina Mandarin Singapore 6 Raffles Boulevard, Level 4Z6845-1111 Whiskey Empire Enjoy fine selections of single malt whiskey at the Atrium Lounge at $88++ per person. Expect 10 different types of premium whisky available from 6pm to 10pm daily. Popular labels featured are Maker’s Mark, Kakubin,
        662 words
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        Lock icon F&B stalwarts
        2053 6 / 7  -  New restaurants come and go, but some veteran chefs/restaurateurs are still sticking around doing what they know best. By Tay Suan Chiang, Rachel Loi By Tay Suan Chiang taysc@sph.com.sg @TaySuanChiangBT Tay Suan Chiang By taysc@sph.com.sg @T aySuanChiangBT By Rachel Loi @RachelLoiBT rachloi@sph.com.sg Under the radar Infuzi 10 Biopolis
        PHOTOS: TAY SUAN CHIANG; PHOTO: ARTHUR LEE; PHOTOS: CORIANDER LEAF  -  2,053 words
      • Article, Illustration
        Lock icon His customer always comes first
        1023 8  -  Chef Yamada Chikara values his customers’ opinions, so much so that he is always willing to change his food just to suit them. By Rachel Loi guest chef By Rachel Loi rachloi@sph.com.sg@RachelLoiBT CHEF Yamada Chikara may have built his career working in European restaurants for
        PHOTO: RACHEL LOI  -  1,023 words
    • DESIGN
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        Lock icon HUMOUR BY DESIGN
        869 9  -  The trademark of Spanish artist/designer Jaime Hayon can be subtly seen in his latest range of furniture for Fritz Hansen. By Arthur Sim By Arthur Sim ITS E E M S t h a t t h e S p a n i s h artist/designer Jaime
        PHOTO OF JAIME HAYON BY YEN; MENG JIIN. PRODUCT PHOTOS; COURTESY OF JAIME HAYON  -  869 words
    • LIVING
      • BEE CHAMPS
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          Lock icon Sweet as honey success
          1298 10 / 11  -  The world’s dwindling bee population has been a hot environmental issue of late. BT Weekend profiles a Singaporean whose passion for bees has turned him into the de facto champion of Africa’s honey industry, and looks at some of the bee conservation projects at home. By
          PHOTOS: LESSTER LEOW  -  1,298 words
        • Article, Illustration
          Lock icon Busy as a bee
          685 10 / 11  -  By Rachel Loi Carl Baptista Pollen Nation BEFORE he became a bee conservationist, Carl Baptista was a pest controller. Dousing insects in pesticides was how he made a living as part of his family business. Four months ago however, the 39-year-old left that life behind, and
          PHOTO: YEN MENG JIIN  -  685 words
        • Article, Illustration
          Lock icon Bee calm and carry on
          648 12  -  By Rachel Loi @RachelLoiBT rachloi@sph.com.sg Rob Pearce Edible Gardens URBAN farmer Robert Pearce has always loved bees ever since he was 10 years old. After all, that was when he first started keeping them with his grandfather, while growing up in the United Kingdom. So
          PHOTO of ROBERT PEARCE: JOSEPH NAIR. PHOTO OF THOMAS LIM: EDIBLE GARDENS  -  648 words
    • TRAVEL
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        Lock icon Remembering Waterloo
        869 13  -  Tourists will be fascinated by the numerous events held to commemorate the 200th anniversary of the Battle of Waterloo. By Neil Behrmann By Neil Behrmann The writer’s anti-war children’s novel, Butterfly Battle The Story of the Great Insect War, begins with a scene from Waterloo. IF you’re a
        869 words
    • MOTORING
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        Lock icon SPACE WITH STYLE
        556 14  -  Kia goes upmarket with the new seven-seat Sorento. By Samuel Ee samuelee@sph.com.sg KIA is going upmarket and nothing manifests this aspiration more clearly than the new Kia Sorento. The seven-seat Kia Sorento, as with all recent Kias, is handsomely styled but this third-generation model is more aggressively
        556 words
      • Article, Illustration
        Lock icon SUREFIRE VELLFIRE
        735 15  -  The new Toyota Vellfire is now available as an official import. By Samuel Ee samuelee@sph.com.sg SO it’s official, as in the new Toyota Vellfire has become an official import from Borneo Motors Singapore (BMS). But now that those who have been yearning for the sportier version of the
        735 words
    • SPORTS
      • Article, Illustration
        Lock icon Against all odds, Lions stand tall
        840 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Correspondent IT was a balmy evening on Tuesday when Singapore closed the SEA Games and the nation celebrated the country’s record gold medal haul. At about the same time, some 5,320km away in Japan’s Saitama prefecture, 11
        PHOTOS: AFP  -  840 words
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