The Business Times, 1 December 2015

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Microfilm: NL33709
Total Pages: 69
1 40 The Business Times
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  • Title Section
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    34 1 THE BUSINESS TIMES 2015 SOCIETY OF NEWS DESIGN EXCELLENCE AWARD■BEST IN OVERALL REDESIGN■ S$1.00 5:31 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg B D@BTBreakingnews CO REGN NO ’l*****868E MCI (P) 039/08/2015 Tuesday. December 1. 2015
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  • Article, Illustration
    Lock icon DAILY DIGEST
    226 1 RedMart launches an on-demand marketplace, RedMart Relay, that will allow customers to order products from participating food and retail partners, in selected parts of Singapore. TOP STORIES 6 The Singapore Exchange reprimands Sunvic Chemical Holdings for breaching listing rules related to 1.6 billion yuan (S$354 million) of interested-person
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  • Article
    Lock icon Tight labour market, negative inflation raise median income
    685 1  -  But MOM expects slower job growth for rest of decade as economy continues to be restructured By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore REAL median income in Singapore jumped strongly by 5.4 per cent this year, thanks to the still-tight labour market
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  • Article
    Lock icon Marine service provider denies distressed sales
    694 1  -  Pacific Richfield says it’s cutting its fleet by up to half to pare debt amid the market downturn By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore PACIFIC Richfield Marine Pte Ltd has denied that its vessels are being offered for distressed sales as indicated in
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  • Article
    Lock icon MARKETS
    28 1 MARKETS Monday Change STI 2,855.94 -3.18 KL COMP 1,672.16 -10.43 NIKKEI 225 19,747.47 -136.47 HANG SENG 21,996.42 -71.90 SHENZHEN B 1,199.85 +11.88 DOW (11.45 EST) 17,792.25 -6.24
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      49 1 8 "*****1 *****4 PARIS SUMMIT Climate talks a turning point: Obama TOP STORIES 4 CLE DE CARTIER MANUFACTURE MOVEMENT 1847 MC SINGAPORE Takashimaya S.C.- ION Orchard Marina Bay Sands Tel: 6732 0181 MALAYSIA Suria KLCC, Kuala Lumpur Tel: (603) 2303 5088 > -V CART1 1) s N r k 9
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      22 1 STOCKS S’pore market cap shrinks by 3.1% COMPANIES MARKETS 10 SPECIAL REPORT Kazakhstan plays key role in Central Asia COUNTRY FOCUS 24-25
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      39 1 CYBER SECURITY SOLUTIONS The Swan factor in success SME 30 LUXE LIVING Star architect combines creativity with business smarts. Read about it in Wealth with your copy of BT today MICHELIN GUIDE Seeing stars in Singapore TOP STORIES 6
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  • TOP STORIES
    • Article, Illustration
      Lock icon Yuan inclusion: outcome expected, question is why
      1136 2 Following Monday’s meeting, IMF is likely to give more details on how it arrived at the conclusion BLOOMBERG Washington INTERNATIONAL Monetary Fund (IMF) managing director Christine Lagarde and some two dozen officials on the fund’s executive board will gather on Monday at headquarters
      BLOOMBERG; PHOTO: REUTERS  -  1,136 words
    • Article, Illustration
      Lock icon Paris climate talks a demonstration of global resolve, says Obama
      1091 4 US president tells leaders at summit that no nation is immune from effects of climate change BLOOMBERG REUTERS Washington US President Barack Obama told world leaders that the climate talks that opened on Monday in Paris mark a turning point
      BLOOMBERG; REUTERS; PHOTO: REUTERS  -  1,091 words
    • Article
      Lock icon Fitch affirms Singapore’s ‘AAA’ sovereign ratings
      459 4  -  But growth outlook is dimmer as agency trims forecast for 2015 to 2016 By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore CREDIT-rating agency Fitch Ratings, with its eye on Singapore’s strong economic fundamentals, has affirmed the “AAA” sovereign ratings on the country with stable outlook, but
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    • Article
      Lock icon Singapore bank lending falls again in October
      456 4  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore BANK lending in Singapore fell in October from the previous month, dragged by weaker business loans across most segments, preliminary data from the Monetary Authority of Singapore (MAS) showed on Monday. This is the second and a
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    • Article
      Lock icon Countries will rush to join TPP once it’s up: Japanese minister
      507 4  -  He predicts that TPP will be bigger than the Asia-Pacific economic partnership By Anthony Rowley btworld@sph.com.sg Tokyo AN “avalanche” of countries will rush to join the Trans-Pacific Partnership (TPP) once the Asia-Pacific pact becomes operational, said Japan’s minister of
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    • Article, Illustration
      Lock icon ECB set to cut deposit rate further this week, economist predicts
      512 4  -  By doing so, money can be pushed out of the ECB’s vaults into the real economy, she says By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore A10 basis-point rate cut on the European Central Bank’s (ECB) deposit rate is likely to
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    • Article, Illustration
      Lock icon Singapore to get its Michelin Guide next year
      919 6  -  Chefs and restaurateurs are optimistic, hope it will be an accurate representation of the local dining scene By Avanti Nim avantin@sph.com.sg Singapore CHEFS and restaurateurs reacted to news about the Singapore Michelin Guide with a mix of excitement and guarded optimism that
      PHOTO: YEN MENG JIIN  -  919 words
    • Article
      Lock icon Ensuring survival of Michelin guide for next 100 years
      895 6  -  By Jaime Ee jaime@sph.com.sg Singapore GROWING its digital presence, expanding its markets and fiercely guarding the anonymity of its inspectors are key to ensuring the Michelin guide’s posterity over the next 100 years, said Michael Ellis, international director of the venerable
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    • Article
      Lock icon RedMart offers 1-hour delivery of orders from food, retail partners
      543 6  -  Firm claims service offers faster, cheaper delivery than through couriers By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore SINGAPORE-BASED online grocery service provider RedMart has launched an on-demand marketplace, RedMart Relay, which will allow customers to order products from participating food
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      44 2 Emerson Buckley CONDUCTOR GREAT SUCCESS COMES FROM GREAT SUPPORT. At Qatar Financial Centre, we facilitate success. Offering ease of set up, an international legal environment and access to growth markets, we’ll give your business the perfect platform for the region. Visit qfc.qa Facilitating success.
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      327 3 At Aviva Investors, we believe it’s time to think differently. That’s why our entire organisation is united behind one common goal to deliver the specific outcomes that matter most to today’s investor. By harnessing the exceptional breadth and depth of our global resources, we cut a path through complexity to
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  • Page 6 Advertisements
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      140 6 SINGAPOREAN OFTHEYEAR2015 SHORTLISTED FINALISTS Yong Yuen Cheng and Lim Nghee Huat The ultramarathoners covered 2,500km 50km daily over 50 consecutive days. Their feat is about determination, shattering mental barriers and what the human body can achieve. Wong Li Wai Most people flee from Ebola. But volunteer nurse Li Wai braved
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  • COMPANIES & MARKETS
    • Article
      Lock icon Sunvic chided for breaking rules on interested-person deals
      486 8  -  SGX reprimand cites absence of immediate disclosures, shareholder approval in 1.6b yuan of transactions over 3 years By Kenneth Lim kennlim@sph.com.sg @KennethLimBT Singapore THE Singapore Exchange (SGX) has reprimanded Sunvic Chemical Holdings for breaching listing rules related to 1.6 billion yuan (S$354
      486 words
    • Article
      Lock icon China Fishery securities suspended as liquidators step in
      375 8  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore AS provisional liquidators step in to decide the fate of beleaguered upstream fisher and fishmeal producer China Fishery Group, the company’s US$300 million 9.75 per cent bonds due 2019 have been suspended from trading. China Fishery’s
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    • CORPORATE DIGEST
      • Article
        Lock icon iX Biopharma Ltd
        86 8 ix BIOPHARMA Ltd has been granted a patent in Indonesia for its WaferiX drug delivery technology. The patent will expire on Oct 26, 2030. Indonesia is the sixth country to grant ix Biopharma a patent for WaferiX. The company was granted its Japanese patent in September 2015.
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      • Article
        Lock icon Rickmers Maritime
        70 8 RICKMERS Trust Management Pte Ltd (RTM), trusteemanager of mainboard-listed Rickmers Maritime, said it had satisfied the conditions required to lift the trust from restrictions stipulated under an intercreditor deed (the trust exit conditions) signed with three syndicates of lending banks in 2010. With this, several financial constraints, including
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      • Article
        Lock icon mDR Ltd
        60 8 mDR Ltd has terminated the planned purchase of Shenzhen Quanli Leather Co Ltd and Quanli (Hong kong) Leather Company which was announced in 2013. As reasons for its exit from the deal, it cited the performance to date and the additional required investments to be made, the economic
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      • Article
        Lock icon Infinio Group
        57 8 CHOO Siew Lohk has resigned as independent director of new media company Infinio Group, citing work commitments. Mr Choo was a member of Infinio’s audit, nominating and remuneration committees. Infinio independent director Chng Hee Kok will replace Mr Choo on those committees. Mr Chng will also assume the
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    • Article, Illustration
      Lock icon Singapore market cap shrinks 3.1% in November
      894 10  -  Fall in value due to weak earnings and wariness about possible US interest rate hike By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore THE value of Singapore-listed companies slipped 3.1 per cent in November amid a wave of weak earnings and wariness about a possible
      BT FILE PHOTO; Compiled by BT  -  894 words
    • Article
      Lock icon Midas to buy chairman’s company in share deal valued at S$264m
      441 10  -  By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore MIDAS Holdings has agreed to buy a China-based aluminium products maker by issuing new shares that represent up to 60.2 per cent of its current share capital, the company announced on Monday. Midas,
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    • Article
      Lock icon Quotation of taxable book-entry Singapore Government Bonds
      293 10 As at Nov 30, 2015 GROSS REDEMPTION YIELD YEAR RAISED NUMBER OF DAYS OF ACCRUED INTEREST INTEREST PAYMENT DATES AMOUNT (S$m) COUPON RATE INTEREST YEAR RAISED ISIN CODE MATURITY DATE CLOSING PRICES* (EXCLUDING ACCRUED INTEREST) 01.04.2016 N*****0W 2011 1 1/8 7300.00 1/10 1/4
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    • Article
      Lock icon Handshakes rolls out tool for quick check on company owners
      309 11  -  Instantaneous access to “legal beneficial ownership” information with just “a single click” By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore FINANCIAL technology firm DC Frontiers, developer of the Handshakes data analysis app, has launched a search tool for a quick and safe
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    • Article, Illustration
      Lock icon Zurich Insurance to exit life business in S’pore
      525 11  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore SWISS-BASED insurer Zurich Insurance has decided to leave the increasingly competitive life insurance market here, as part of its global strategy to exit underperforming portfolios in the face of growing cost pressures. Zurich Life Insurance Singapore
      PHOTO: REUTERS  -  525 words
    • Article
      Lock icon Marco Polo takes rig dispute with SembMarine to mediation stage
      331 11  -  By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore MARCO Polo Marine said on Monday that its unit MP Drilling has taken its dispute with Sembcorp Marine’s PPL Shipyard over a US$214.3 million rig building contract to the mediation stage. The action
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    • Article
      Lock icon Munich Re eyes business boost from new EU capital rules
      233 11 REUTERS Frankfurt GERMAN reinsurer Munich Re said it expects to generate more business as a result of new risk capital rules known as Solvency II, which take effect on Jan 1. The world’s largest reinsurer said on Monday that insurance
      REUTERS  -  233 words
    • Article, Illustration
      Lock icon STI stocks active in end-of-month trading
      717 12  -  Possibility of window-dressing but index emerges weaker after post-closing adjustments due to last-minute selling STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT MONDAY’S column suggested that the Straits Times Index (STI) might see some month-end-ing window-dressing and given that volume in the 30 STI components spiked
      Source: Bloomberg  -  717 words
    • Article
      Lock icon STI STOCKS
      305 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 239 +3 239/234 271 213 6.1 6052.1 CapitaLand 302 -2 305/302 379 267 11.1 3 ***** CapitaMall Trust 190.5 +3 190.5/187.5 228 184.5 5.7 6620.4 CityDev 734 -1 738/725 1095 725 8.8
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    • Article
      Lock icon MOST ACTIVE
      34 12 VOLUME Vashion 200,914,000 WE 77,690,100 QT Vascular 70,939,900 Elektromotive 70,000,200 Spackman 53,862,000 Market volume 1,597,327,000 VALUE HongkongLand USD 429,510,127 Singtel 136,436,758 DBS Grp 111,817,772 OCBC Bank 93,048,919 UOB 89,631,446 Market value 1,665,897,000
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    • Article
      Lock icon SGX ETFs
      111 12 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 292 231 294/291 355/280 291/292 Lyxor Japan US$ US127 cd -0.4 224 127.6/127 135.4/112.9 126.6/126.8 20.3 IS MS INDIA US$ US672 +4 122 672/667 1000/648 665/672 84 GLD US$ US***** -91 102 *****/***** *****/*****
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 12 Nov 30 VALUE CLOSE BT OB/OS -406.00 +17.00 BT CADI -*****.00 -44.00 BT 10-day MA -*****.00 -41.00 FTSE ST Mid Cap 672.88 +1.56 FTSE ST Small Cap 403.52 -2.15 FTSE ST All Share 691.17 -0.28 FTSE ST China Top 170.41 -1.01 FTSE ST China 205.29 -2.77 FTSE
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      Lock icon STI / FTSE ST All-Share
      35 12 STI FTSE ST All-Share ftse ST All-Share index NOV 30,2015 691.17 -0.28 (-0.04%) Current streak 4 days Day high 694.70 Day low 691.17 52-week high 847.98 (Apr 15, 2015) 52-week low 676.13 (Sept 29, 2015)
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      Lock icon STI / MSCI EAFE
      33 12 STI MSCI EAFE MSCI EAFE Index NOV 27,2015 1,746.06 -9.90 (-0.56%) Current streak 1 day Day high 1,755.53 Day low 1,744.32 52-week high 1,949.49 (May 15, 2015) 52-week low 1,609.50 (Sept 29, 2015)
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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 0 10 3 0 0 1 0 10 4 Manufacturing 38 38 26 8 8 9 46 46 35 Commerce 19 17 12 3 11 2 22 28 14 Tpt/Stor/Comms 8 13 8
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 12 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 25,405 3,957 29,362 94,505 1,256 95,761 Manufacturing 77,427 369,678 447,105 88,286 10,154 98,440 Commerce 76,122 102,956 179,078 71,807 1,748 73,554 Tpt/Stor/Comms 111,900 190 112,090 238,527 16 238,542 Finance 34,924 33 34,957 321,846 5 321,851 Construction
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    • Article
      Lock icon GAINERS
      72 12 BY CENTS CLOSE UP 52w high/low IS S&P500 US$ ***** 351.1 1.2 *****/***** JMH USD 4990 63.5 0.9 6788/4502 DBXT MSEurope US$ 5590 25.4 0.3 6300/5225 Great Eastern 2123 22.0 1.0 2600/1870 UOB 1939 16.0 0.8 2505/1820 BY PERCENTAGE CLOSE UP 52w high/low Infinio 0.3 200.0 0.2 0.7/0.1 Elektromotive
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    • Article
      Lock icon LOSERS
      77 12 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -128.3 -0.9 *****/***** DBXT Vietnam US$ 2247 -88.8 -2.7 2824/2139 DBXT MSINDO US$ 1137 -56.4 -3.4 1492/911 DBXT CSI300 US$ 905 -42.3 -3.2 1471/785 Lyxor Asia EX US$ 438 -33.8 -5.2 539/404 BY PERCENTAGE CLOSE DOWN 52w high/low S Chance
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    • Article
      Lock icon UNUSUAL ACTIVITY
      80 12 VOL CLOSE($) CHANGE Sinotel Tech 1,663.3 0.129 +0.044 +51.77 Elektromotive 70,000.2 0.004 +0.002 +100.00 BlueSkyPower 730.0 0.082 +0.008 +10.81 YHI Intl 244.8 0.200 +0.025 +14.29 Chasen 194.6 0.060 -0.013 -17.81 Enviro-Hub 2,353.8 0.080 +0.006 +8.11 SingHaiyi 3,938.7 0.085 +0.007 +8.97 Asia Fashion 240.1 0.018 +0.005 +38.46 Mencast 670.0
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    • Article
      Lock icon BROKERS TAKE
      506 12  -  Compiled by Kenneth Lim CapitaLand Mall Trust Buy Nov 30 close: S$1.905 Target price: S$2.09 OCBC Investment Research, Nov 30 FOLLOWING our downgrade on CapitaLand Mall Trust (CMT) to a “hold” on Oct 22, 2015, we note that its share price has since corrected 8.5 per cent, as
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    • Article
      Lock icon Euro weak ahead of hotly-anticipated ECB meeting
      385 13 CURRENCIES Tokyo THE euro weakened on Monday as traders bet that the European Central Bank (ECB) will turn on the monetary stimulus taps this week, while key US jobs data were also in focus. A solid reading for Friday’s employment figures would add
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    • FOREX RATES
      • Article, Illustration
        Lock icon HANG SENG
        2 13
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        Lock icon INTERBANK CROSS RATES
        471 13 NOV 30 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.963 4.608 0.680 5.582 48.073 99.521 0.885 8.332 3.062 1.098 75.976 33.969 1.016 10.365 0.742 23.498 25.814 0.479 0.720 Canada 1.038 4.784
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        Lock icon SHANGHAI COMPOSITE
        2 13
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      • Article, Illustration
        Lock icon DOW JONES
        2 13
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 13 NOV 30 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0154 1.0164 0.7201 0.7204 Canadian dollar 1.0541 1.0552 0.7479 0.7476 Euro 1.4927 1.4941 1.0586 1.0590 NZ dollar 0.9247 0.9260 0.6558 0.6563 Sterling pound 2.1205 2.1220 1.5038 1.5040
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 13 NOV 30 S$ Bid Offer 1-month 1.4115 1.4125 2-months 1.4129 1.4140 3-months 1.4136 1.4146 6-months 1.4173 1.4185 Source: OCBC
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      • Article, Illustration
        Lock icon NIKKEI
        1 13
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        210 13 Most active NOV 30 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Ntegrator Intl Ltd W*****3 0.4 -0.1 ***** 1 1 -7 3.75 36 DBS MB eCW*****4 6.2 -0.3 ***** 0.1 1880 5 Second Chance Prop W*****4 0.3 -0.7
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        365 13 In local curr In S$ In US$ dy yr dy yr dy yr Nov 27 Index Change Change Change Change Change Change World Preliminary 1311.8 -0.1 2.8 0.2 6.1 -0.2 -0.5 EAFE Preliminary 1044.3 -0.3 5.8 -0.2 4.9 -0.6 -1.6 Europe Preliminary 1465.9 -0.1 6.1
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        380 13 NOV 30 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Dec15 *****.00 *****.00 9867.50 9922.50 *****8 *****8 Jan16 *****.50 *****.00 9840.00 9920.00 1597 235 NIKKEI 225 INDEX FUTURES Dec15 *****.00 *****.00 *****.00 *****.00 ***** *****4 Mar16 *****.00 *****.00 *****.00 *****.00 292 3294 MSCI TAIWAN
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    • BANK RATES
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        Lock icon INTERBANK RATES
        154 13 Nov 30 $S Offer Bid 0vernight 0.50 0.30 1-month 0.9375 0.8125 2-months 1.0 0.875 3-months 1.0625 0.9375 Overnight mode: NA US$ Offer Bid 7 days 0.20 0.10 1 month 0.35 0.15 2 months 0.45 0.25 3 months 0.55 0.35 6 months 0.75 0.55 9 months 0.95 0.75 12
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      • Article
        Lock icon GOVERNMENT SECURITIES
        67 13 Nov 30 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0F 1.375 01-Oct-17 100.29 5-Year N*****0S 2.000 01-Jul-20 100.22 100.50 100.35 10-Year NX*****Z 2.375 01-Jun-25 98.85 99.12 99.00 15-Year NZ*****F 2.875 01-Sep-30 101.03 101.45 101.30 20-Year NZ*****V 3.375 01-Sep-33 107.39 107.78 107.78
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        192 13 NOV-27 Price Net change change Last Trade Agricultural Nov-27 CBOT Soybeans (US cents/bu) 873.00 -2.25 -0.26% 14/01/2016 CBOT Soybean Oil (US cents/lb) 28.75 -0.14 -0.48% 14/12/2015 CBOT Wheat (US cents/bu) 465.75 -13.50 -2.82% 14/12/2015 Nov-27 LIFFE Cocoa (£/tonne) 2260.00 12.00 0.53% 14/12/2015 LIFFE Coffee (US$/tonne) 1481.00 -4.00 -0.27%
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      • Article
        Lock icon PALM OIL
        57 13 NOV 30 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 15 2153.0 2140.0 2160.0 2135.0 251 3324 Jan 16 2273.0 2265.0 2294.0 2263.0 3187 ***** Feb 16 2347.0 2344.0 2365.0 2337.0 ***** ***** Mar 16 2384.0 2385.0
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    • Article
      Lock icon SGX MAINBOARD
      1870 14 Transaction date: Nov 30 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil 90 42 8Telecom Last Sale AAT vol ('000) High Day LOW Div 153 131.5 AIMSAMP Cap Reit GrYld 175.5 118 ARA Asset Mgmt 121.5 +1.5 4792
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    • Article
      Lock icon SGX CATALIST
      383 14 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Company Last Sale vol 4 2.2 t Acesian Partners High Day Low Div 25 4.5 t Alliance Mineral 12.7 +0.3 ***** 13.2 12.2 50 GrYld 10.1 4.3 t Artivision Tech P/E
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    • Article
      Lock icon SGX ETF
      97 14 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale vol 4258 2750 DBXT China50 US$ US2977 -20 0 2977 2977 8.2 High Day 1750 1151 DBXT MSCHINA US$ US1261 -1 0 1263 1261 Div C'vr GrYld Net
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      335 8 IMPROVE YOUR GAME WITH THE BUSINESS TIMES businesstimes.com.sg V M Master the business landscape with The Business Times. Subscribe to The Business Times All-in-One package and choose between the TomTom Golfer GPS Watch or the Samsung Galaxy Tab S2 (9.7") 4G+. Receive the TomTom Golfer GPS Watch worth $429 Top
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  • THE BUSINESS TIMES CLASSIFIED Celebrate the Spirit of Giving
    • Article, Illustration
      Lock icon Giving can be fun
      320 9 Donate, fundraise or volunteer through the user-friendly online portal Giving.sg. Singapore is renowned for offering good food, good education and good housing. While we enjoy the good life, let us also share this with other people who might not be faring as well. Together, we can
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      Lock icon Head to Giving.sg to support our influencers’ campaigns!
      224 9 PETRINA KOW Radio DJ Petrina Kow is raising funds for Playeum, Asia’s first Children’s Centre for Creativity. Throughout December, she will be sharing ideas on how to create fun crafts and gifts with your children, and educating them about how they can
      224 words
    • Article, Illustration
      Lock icon FUNDS NEEDED
      205 9 THE FOOD BANK SINGAPORE Fresh Food Truck Project The Food Bank Singapore needs to raise $13,000 to purchase a chiller truck and convert it into a fresh food pantry. This is essential in helping them collect and redistribute fresh food to the needy, and spread the word on
      205 words
    • Article, Illustration
      Lock icon HANDS NEEDED
      216 9 MCYC COMMUNITY SERVICES SOCIETY Better A Child’s Life MCYC needs volunteers to help 7-12 year olds improve their studies by helping students with their homework and revision. They also act as a befriender and role model to the students. Volunteers need to commit two hours per week, for
      216 words
    • Article, Illustration
      Lock icon Charitable Giving Starts with You
      440 9 Meet our three giving heroes who have made a difference to the community. The capacity to give and create impact through giving varies at different life stages. To inspire people to continue giving throughout their lives, our President’s Volunteerism Philanthropy Awards (PVPA) share how there
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      28 10 Capitalize opportunities in the market using CFDs regardless of bull or bear market Open a new CFD trading account and enjoy 50% commission rebate* *Terms and conditions apply
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      Lock icon Page 10 Advertisements Column 2
      50 10 HOT PROPERTY NORRIS ROAD 2-STOREY Shophouse with roof terrace F'hold land 1974 sf. Tenanted 3% ROI! F&B approved@Arab St. Newly restored with nice roof top gdn. Install grease trap Tenure 999. 2153sf $4.58M. LOOKING FOR A SHOP SPACE? Check out these properties and more in The Straits Times Classified now!
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      19 10 WHEEL DEAL Theesmartermrway to sell your car s a y ca Call 6319 8889 or visit www.wheeldeal.com.sg for details
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      84 11 BTLuxe Christmas 2015 SPIRIT OF CHANEL 31 Rue Cambon is filled with the same timeless beauty and fluid sense of style that belonged to the inimitable woman who lived in it Coco Chanel. Read this story in BTLuxe’s Heritage Issue featuring business innovators who combine their passion for the past
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      71 14 ON THIS OPPORTUNITY Reach out to investors and affluent readers in this Investor Information Page. Advertise at less than $5,800 per full colour ad (a special package for 4 leading newspaper titles The Straits Times, The Business Times, Lianhe Zaobao and The New Paper Sunday). Contact our Sales Team now!
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      4091 15 SINOTEL TECHNOLOGIES LTD. (Company Registration Number *****4275R) (Incorporated in the Republic of Singapore) AND ADVANCE TECHNOLOGY HOLDING LTD (Company Number *****43) (Incorporated in the British Virgin Islands) JOINT ANNOUNCEMENT PROPOSED VOLUNTARY DELISTING OF SINOTEL TECHNOLOGIES LTD. 1. INTRODUCTION On 12 March 2015, Advance Technology Holding Ltd (the “Offeror”), through its
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  • REAL ESTATE
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      708 16 / 17  -  4% rental gap in Q3, smallest since 2011, due to higher occupancies, lack of new Grade A space in Raffles Place By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore GRADE-A office rents in Singapore’s traditional Raffles Place CBD nearly caught up with the
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      Lock icon Shanghai buyer completes 137 Cecil Street purchase
      396 16 / 17  -  By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore THE sale of 137 Cecil Street to a businessman from China was completed on Monday. The deal was through the sale of shares in the company that owns the freehold office block and values the property at
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      112 16 / 17 worst-case scenario Projected impact from extension charges NET ASSET VALUE EXCL MINORITY INTEREST (S$M) AS A OF NAV DEVELOPERS WORST CASE IMPACT (S$M) City Developments 436.4 8,410.1 5.2 OUE 254.5 3,853.3 6.6 YTL Corp Bhd 208.8 5,265.6 4.0 GuocoLand 202.3 2,936.4 6.9 Wing Tai Holdings 200.1 3,173.2 6.3 CapitaLand 147.8
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      Lock icon Property counters ‘overly discounted’: UOB KayHian
      681 16 / 17  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore CONCERNS over the effect of a rise in interest rates on the property sector have been overblown and the stock market has “over-discounted” property counters for the headwinds in the residential segment, UOB KayHian says in its latest
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      Lock icon Small units lead price falls for completed condos
      875 16 / 17  -  This is due to a more severe rental erosion for shoebox units than for other apartments, says analyst By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore SMALL units have led prices falls for completed apartments and condos year to date as well as on
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      Lock icon Lower taxes for 93% of residential property owners in Singapore: Iras
      365 16 / 17  -  By Angela Tan angelat@sph.com.sg Singapore ABOUT 93 per cent of residential property owners in Singapore are poised to pay lower property taxes next year, with the annual values of real estate falling in tandem with market rentals. On Monday,
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      Lock icon Nippon Life plans Japan’s largest Reit
      338 16 / 17 BLOOMBERG Tokyo NIPPON Life Insurance, which is seeking to gather about 300 billion yen (S$3.4 billion) for what would be Japan’s largest private real estate investment trust (Reit), is targeting returns of 4 per cent as yields on government bonds languish near zero. Nippon
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      157 16 / 17 Hong Fok Group fr -H EHlLi n n a S5E E ■iWiiTi tda i l&MSPFW! n E 5You are now ready to be recognised at Singapore Business Awards 2015 You have seen the unseen with your innate intuition; thought out of the box to seek alternative paths; and soldiered on
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      52 16 / 17 REDEVELOPMENT LAND ALONG W* Knight UPPER EAST COAST ROAD Frank Freehold Site Area -13,123 sqft Zoned "Residential with Commercial at 1 st storey" GPR3.0 No STB approval is required TENDER CLOSING: 16 DEC 2015 (WED), 3PM LENNON KOH (CEA Reg. No.: R*****3H) 9748 7400 CHOOWEI SIONG (CEA Reg. No.: R0S3701F)
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  • BANKING & FINANCE
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      31 18 SGX issues close to 100 trade with caution warnings in the wake of penny-stock crash saga in the wake of penny-stock crash saga To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • ENERGY & COMMODITIES
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      Lock icon China to end state monopoly on electricity istribution
      385 19 BLOOMBERG Hong Kong CHINA said it will end the monopoly of state-owned power distributors over electricity sales by allowing end users to negotiate prices directly with generators. Generators will be able to sell power to customers through regional power trading platforms, the
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      Lock icon Iran to ramp up crude exports to fend off rivals
      751 19 Its move matches Saudi strategy that it earlier opposed BLOOMBERG London ALMOST by accident, Opec adversaries Saudi Arabia and Iran are about to work as a team. When the Saudi kingdom decided last year that Opec should keep pumping to
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      478 19 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF (1) STRAITS STEAMSHIP RETAIL MANAGEMENT PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) (Co. Reg. No. *****6307E) (2) EVANSVILLE INVESTMENTS PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) (Co. Reg. No. *****2880Z) NOTICE OF RESOLUTIONS At the Extraordinary General Meetings
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      111 19 OWN A COPY OF OUR COVERAGE news POST REVIEWS NEWS VIDEOS FEATURES REPORTS Here’s how you can purchase the materials in 3 simple steps. If you are reading the article online, click below the article or visit www.sphdigital.com/newspost news POST Complete and submit the News Post Enquiry Form. SPH will
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  • TECHNOLOGY
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      Lock icon Nokia’s reinvention strategy faces its biggest test
      773 20 It will complete US$1 6.6b takeover of rival Alcatel-Lucent in early 2016; move is seen as key to years-long makeover NYT Espoo, Finland TUCKED away down a corridor at Nokia’s headquarters here is a reminder of its 150-year history. A colourful display traces
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      Lock icon Data breach at VTech highlights broader problems
      243 20 REUTERS Hong Kong THE theft of toy maker VTech Holdings Ltd’s database highlights a growing problem with basic cyber security measures at small, non-financial companies that handle electronic customer data, industry watchers said on Monday. The hacked data at VTech included information about
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      925 20 I r < SPH celebrates the power of newsprint creativity To celebrate Singapore’s golden jubilee, SPH presented the “For the Love of Newspaper Advertisements 50 Years of Newsprint Creativity” exhibition at Paragon and Marina Square in September and November. Singaporeans had a chance to get reacquainted with newsprint advertising at
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  • CONSUMER
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      245 21 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices Liquidation Sale Sale of HP enterprise series printer, hydraulic and mini excavators from Kobelco and Hitachi. If interested, please contact Chen Jiexin at 6538 5488 or jiexin.chen@acutus-ca.com. IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF
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      207 21 www.omy.sg MM “ffiMSIS" SMI v f S3K0 H SCAN&READ more showbiz.omy.sg GUESSTHE CAROF THEYEAR 2015! VEHICULAR December Issue Out Now! www.torque.com.sg NOVEMBER2015 |S$6.90 TEST-BEDS IN SINGAPORE ARE POINTLESS PG26 |RM9.50 SINGAPORE’SNO.1MONTHLYCAR MAGAZINE *NIELSEN MEDIA INDEX 2014Receive a 1-yeardigital subscription toTorque(worth $82.80) whenyou guess the make and model correctly. All entries
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Japan may duck economic recession in last quarter
      535 22  -  Factory output up 1.4 per cent in October; retail sales spiked more than expected By Anthony Rowley btworld@sph.com.sg Tokyo FEARS that the economic recession in Japan could be extended into the final three months of this year eased somewhat on Monday, with
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      Lock icon Tenaga slapped with RM2 billion in taxes from additional assessments
      569 22  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur THE tax man has come a-calling for Tenaga Nasional to the tune of over RM2 billion (S$664.3 million) in additional assessments, shocking the market. The state-owned utility said in a brief filing to the
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      Lock icon Pending sales of previously owned homes up 0.2%
      464 22 Steady hiring gains, early signs of a pickup in worker pay expected to continue supporting housing demand LATEST US DATA BLOOMBERG AFP Washington CONTRACT signings to purchase previously owned US homes rose less than forecast in October after declining in the prior
      BLOOMBERG; AFP  -  464 words
    • Article
      Lock icon ECB left with no choice but to boost stimulus: economists
      780 22 BLOOMBERG Frankfurt MARIO Draghi has no room to back down. Economists surveyed by Bloomberg unanimously predict the European Central Bank (ECB) will boost stimulus again this week, less than halfway through a 1.1 trillion-eu-ro (S$ 1.6 trillion) bond-buying programme, and
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      Lock icon India exceeds expectations with Q2 growth of 7.4%
      484 22 REUTERS New Delhi INDIA’S economic growth picked up in the Ju-ly-September quarter, outpacing China on improving domestic demand and manufacturing activity, which could persuade the country’s central bank to keep interest rates unchanged at its Tuesday meeting. The Reserve Bank of India
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      4285 23 THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. If Noteholders (as defined below) are in doubt about any aspect of the Proposal (as defined below) and/or the action they should take, they should seek their own independent professional advice immediately from their stockbroker, bank manager, solicitor, accountant
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  • KAZAKHSTAN COUNTRY FOCUS
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      Lock icon Celebrating wise leadership
      511 24  -  Kazakhstan has made great progress under President Nursultan Nazarbayev’s leadership of more than 20 years. BY VINCENT WEE BY VINCENT WEE DECEMBER 1, the day celebrating the First President, is a fitting one for Kazakhstan to remember the strides it has made under President Nursultan Nazarbayev. More
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      Lock icon Nazarbayev underlines importance of Astana Expo 2017
      473 24  -  By Vincent Wee PREPARATIONS for one of Kazakhstan’s signature projects, Astana Expo 2017, are well under way. Its importance has been underscored by Kazakhstan President Nursultan Nazarbayev giving it his personal attention. “Only a year and a half remains until the event. All
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      Lock icon Kazakhstan plays key role in Central Asia
      893 25  -  Through a well-thought-out foreign policy, the country has done much to help achieve regional stability and prosperity. BY VINCENT WEE BY VINCENT WEE KAZAKHSTAN’S position at the heart of Central Asia, along with shifting global geopolitics, has thrust it into the limelight in
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      Lock icon Khorgos-East Gate set for transformation
      506 25  -  By Vincent Wee KAZAKHSTAN’S Khorgos-East Gate special economic zone (SEZ) is at the right place at the right time. Construction has begun on the country’s first dry port and logistics area in the Panfilov district near the Kazakh-Chinese border and is expected to ramp up
      PHOTO: REUTERS  -  506 words
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      74 24 Pass on the In 2017, nations from around the world will converge at Astana, Kazakhstan, to find sustainable energy solutions to meet growing global demand and secure the survival of our planet. As the world counts down to Expo 2017, let us show a spirit of unity in pursuing a
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      41 25 A NEW CUSS OF CHAMPIONS WILL GRADUATE IN 2017 The 28th Winter Universaide, the world’s biggest winter multi-sports event for student-athletes, will celebrate the true spirit of friendship and sportsmanship in Almaty, Kazakhstan in 2017. May the true champions emerge. almaty2017.com/en/
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  • OPINION
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      Lock icon America’s friends should worry about presidential hopefuls’ hate-mongering
      542 26 EDITORIAL THE US presidential elections are first and foremost a domestic political matter, the outcome of which should not be influenced by the views of foreigners who aren’t allowed to take part in the process. American voters are being asked to elect
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      Lock icon Europe the unready
      800 26  -  THE BOTTOM LINE By Paul Krugman Thanksgiving as we know it dates not to colonial days but to the middle of the Civil War, when Abraham Lincoln made it a federal holiday. It is, in other words, a celebration of national unity. And our national unity is
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      Lock icon Managing the politics of climate change
      1110 26  -  How countries navigate this challenge will determine their future and this won’t be easy By Asit K Biswas, Cecilia Tortajada T Asit K Biswas is a Distinguished Visiting Professor at Lee Kuan Yew School of Public Policy. Cecilia Tortajada is Senior Research Fellow in
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      Lock icon A Silicon Valley state of mind: smart, open and disruptive
      1541 27  -  COMMENTARY By Leon Hadar WHEN I departed Washington, DC recently and boarded a plane to San Francisco, the residents of the capital of the United States, were full of anxiety and in an angry mood. The images of terrorist attacks
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      Lock icon Buyout offer for Zagro Asia fair and reasonable
      563 27  -  LETTER TO THE EDITOR Mano Sabnani ZAGRO Asia’s major shareholder, Poh Beng Swee, is offering to buy over the shares of minorities and delist the company from the mainboard of SGX. On hearing about the offer a couple of weeks ago, my
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      Lock icon No case for further monetary easing by ECB
      1097 27  -  Such a move would also create systemic problems in the banking sector By Thierry Apoteker T The writer is chairman of TAC Economics, an economics research and consulting firm based in Paris. More information on TAC is available at www.taceconomics.com MARKET participants
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  • Article
    Lock icon SHIPPING TIMES
    774 28 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville APL Columbus V010E 23 May 06 Jun 22 Jun 26 Jun 29 Jun 01 Jul 03 Jul 06 Jul 08 Jul 10 Jul 10 Jul 15 Jul
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      182 28 PLACE YOUR AD HERE r THE BUSINESS TIMES Shipping times CALL JOB WO IMG AT 9620 1327 urgently needed fc>y shippers Can they find your services here in -the Shipping Times'? THE BUSINESS TIMES Si PING TIMES Spotlight Award Wins Recognition; Come publicise your Award Wins Recognition, Ship Christenings Delivery
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  • LIFE & CULTURE
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      Lock icon It’s Federer v Djokovic in Singapore
      807 29  -  Two of tennis’s greatest players will clash on the opening day of the Coca-Cola International Premier Tennis League’s Singapore leg By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore TENNIS star Roger Federer, the 17-time tennis Grand Slam champion, will play in Singapore for the first time
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      Lock icon Hong Kong’s pink dolphins at risk of disappearing
      736 29 AFP Hong Kong AS Hong Kong seeks to expand its international airport and with a major new bridge project under way, campaigners warn that the dwindling number of much-loved pink dolphins in surrounding waters may disappear altogether. Conservationists say their repeated concerns
      AFP; PHOTO: AFP  -  736 words
    • Article
      Lock icon Japan to dispatch whaling fleet to Antarctic Ocean
      503 29 AFP Tokyo JAPAN will dispatch a whaling fleet to the Antarctic on Tuesday after a one year suspension, the government said, defying international criticism and a United Nations (UN) legal ruling that the “research” expedition is a commercial hunt in disguise. “The
      AFP  -  503 words
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      28 29 Blow your own trumpet Buy new musical instruments or put up your old ones for sale in CLASS 72 To advertise, call the Print Classified Hotline: 1800-289 9988
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  • Page 29 Miscellaneous
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      324 29 CRYPTIC CROSSWORD Across 1 Settles business promptly and honestly, a pain to administer (4,2,3,4) 9 I have to follow dreadful court order (9) 10 Happened upon old carving (5) 11 Publication for children (5) 12 Insect bite’s upset (4) 13 Flag from European country cut down (4) 15 Good youngsters
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  • SME
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      Lock icon The Swan factor in SME success
      1644 30  -  Soverus Group’s Paul Lim believes that small businesses must always look exceptional “above the surface” to stay ahead. BY MINDY TAN ahead.BY MINDY TAN tanmindy@sph.com.sg @MindyTanBT PAUL Lim, group chief executive officer of Soverus Group, is perhaps best known for being a champion of
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    • Article
      Lock icon Taking good care of staff – even when parting company
      696 30  - Taking good care of staff even when parting company By Paul Heng The writer is the founder of Next Career Consulting Group THE writing is on the wall. For the rest of this year, at least, businesses will continue to face challenges, and right-sizing or cost-management measures, whatever term one
      696 words
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      164 30 Open up your dreams ▼mi KLH mTm L3 FREE your business from expensive and complicated leasing contracts Lounch Special Receive up to $500 vouchers and free 3-year '.f u I Do you really need to lease your office equipment? If von think lpn<;inp vnnr mnipr mnrhinp is pninp tn rnst
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      27 1 DECEMBER 2015 SPOTLIGHT SOO K CHAN Connecting the dots: Architecture and beyond ROUNDTABLE Mega-Investment themes PRE-NUPTIAL AGREEMENTS Enforceable in Singapore? REAL ESTATE Future trends in capital markets
      27 words
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      131 2 CONTENTSdecember 2015 SPOTLIGHT 10 Architect virtuoso SCDA Architects’ founding principal Soo K Chan is a potent mix of creativity and business acumen PHILANTHROPY 14 Transcending time Patek Philippe crafted timepieces to celebrate Singapore’s heritage and~~ support a worthy cause TRUSTED ADVISER 16 Holistic unbiased Standard Chartered Private Bank’s Peter Kok
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      55 3 Credit Suisse Is your Private Banker on speaking terms with your Investment Banker? Discover how you can benefit from having Private Banking and Investment Banking integrated under one roof at credit-suisse.com/onebank 'ti* ‘J \J .)< Xh M i v W V hJ V j5 -A' M r H* v?\\ '~r.
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      85 4 CONTENTSdecember 2015 28 ROUNDTABLE 24 Big on themes Our panellists highlight mega themes that will~~ impact markets and how investors should position themselves to ride out the volatility ASIAN EQUITIES 30The road ahead Despite macro headwinds, many investment~~ ideas from a bottom-up perspective still make good sense FIXED INCOME 28~Handle
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      202 5 IN A CHANGING WORLD, BUSINESS AND FAMILY TAKE THE SAME DIRECTION KgpP mm —2 'mnniiBi 331 II u 7# SUPPORTING ENTREPRENEURS We know your needs as an entrepreneur extend beyondyour business, which is why we ensure their professional and personal assets are managed as one. With our support for entrepreneurs,
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      110 6 CONTENTSdecember 2015 HEDGE FUNDS 34Winners and losers A volatile environment is structurally beneficial to the actively risk-managed approaches that hedge funds follow VIEWPOINT 35It’s always 1979 somewhere As stock markets cycle from expensive to cheap and back to expensive, they exhibit similarities that investors can exploit REAL ESTATE 36Eye on
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      45 7 Standard Chartered Private Bank You seek new horizons Across Asia, Africa and the Middle East, our deep market knowledge can connect you to business and wealth opportunities. s > sc.com/privatebank Here for good Standard Chartered Private Bank is the private banking division of Standard Chartered Bank.
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  • Wealth
    • Article, Illustration
      Lock icon Editor’s note
      723 8  -  By Genevieve Cua S OO K Chan, founding principal of SCDA Architects, did not let the downturn in Singapore’s property market stunt his firm’s growth. He looked to the West, a market which might intimidate other firms. He is making waves in the Big Apple where he has
      723 words
    • SPOTLIGHT SOOK CHAN
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        Lock icon Architect virtuoso
        1596 10  -  SCDA Architects’founding principal Soo K Chan is a potent mix of creativity and business acumen By GENEVIEVE CUA C REATIVE genius is not typically associated with business acumen. But the dapper Soo K Chan, founding principal of SCDA Architects, appears to embody a fortuitous combination of both qualities
        PHOTOS: SCDA ARCHITECTS  -  1,596 words
      • Article, Illustration
        Lock icon Connecting the dots
        860 12 T HE series of dots that comprise star architect Soo K Chan’s career is set to coalesce into a comprehensive whole that may well culminate in a real estate fund. Mr Chan, founding principal of SCDA Architects, has a full service firm offering not just architectural services
        PHOTOS: SCDA ARCHITECTS  -  860 words
    • PHILANTHROPY
      • Article, Illustration
        Lock icon Transcending time
        855 14  -  Patek Philippe crafted timepieces to celebrate Singapore’s heritage and support a worthy cause By GENEVIEVE CUA ERITAGE and culture are vital aspects of a nation’s identity. Supporting their preservation and enhancement is arguably a worthy cause, particularly when viewed through a multi-generational lens. The National Heritage Board (NHB),
        PHOTO: NATIONAL MUSEUM OF SINGAPORE; PHOTOS: PATEK PHILIPPE  -  855 words
    • TRUSTED ADVISER
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        Lock icon Holistic & unbiased
        1546 16  - Holistic unbiased Standard Chartered Private Bank’s Peter Kok believes the one-bank approach appeals to its entrepreneurial client base By GENEVIEVE CUA ETER Kok, Standard Chartered Private Bank’s regional head for Asean and South Asia, discovered early in his banking career of more than three decades, that he loved working in
        PHOTO: LAURA NG  -  1,546 words
    • LEGAL MATTERS
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        Lock icon Eyes wide open
        1377 18  -  How useful and enforceable are pre-nuptial agreements in Singapore? By SUZANNE KINGSTON, SHARANJIT KAUR Suzanne Kingston is Partner, Withers Worldwide, and Sharanjit Kaur is Partner, Withers KhattarWong P RE-NUPTIAL and postnuptial agreements are increasingly popular among wealthy individuals who wish to protect their personal or family wealth
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    • TRUST MATTERS
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        Lock icon All for one and one for all
        1310 20  -  A Family Council’s raison d’etre is to create a whole that is greater than the sum of its parts Mark Haynes Daniell Founderand Chairman Raffles Family Wealth Trust Mark Haynes Daniell is the founder and chairman of the Raffles Family Wealth Trust. He
        PHOTO: ISTOCK  -  1,310 words
    • ASSET MANAGER
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        Lock icon The tried and tested approach
        1244 22 Aviva Investors’ Tim Jagger shares insights on the Asian high yield space and the near to medium-term outlook INTEREST in high yield assets among Asian investors has been on the rise, thanks to their appetite for income. But this year, high yield assets have weathered
        PHOTO: LAURA NG  -  1,244 words
    • ROUNDTABLE
      • Article, Illustration
        Lock icon Big on themes
        2190 24 Our panellists highlight mega themes that will impact markets and how investors should position themselves to ride out the volatility Market volatility is par for the course in investments. Yet investing with a strategic view of mid to long-term themes that could drive markets may help investors
        2,190 words
    • FIXED INCOME
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        Lock icon Handle with care
        1232 28  -  High yield bonds are an attractive value proposition, but not for the fainthearted By MARY PIETERSE-BLOEM Mary Pieterse-Bloem is Global Head of Fixed Income, ABN Amro Private Banking IGH yield bonds have had a volatile year. Riding with the highs and lows of equity and commodity prices,
        PHOTO: ISTOCK  -  1,232 words
    • ASIAN EQUITIES
      • Article, Illustration
        Lock icon The road ahead
        1113 30  -  Despite macro headwinds, many investment ideas from a bottom-up perspective still make good sense By REGINALD TAN Reginald Tan is Director and Head of Research, Investment, Amundi Singapore Limited A SIAN markets started the 2015 calendar year with a bang led by the strong liquidity-driven rally in
        Source: Factset (as at Oct 2015)  -  1,113 words
    • EUROPE MARKET
      • Article, Illustration
        Lock icon Taking a reality check
        818 31  -  Despite negative news from the eurozone, investors can benefit from its continuing recovery By STEFAN KREUZKAMP Stefan Kreuzkamp is Chief Investment Officer, Deutsche Asset Wealth Management IKE it or not, we live in a world where simple news images can shape investor perceptions. Europe has provided
        PHOTO: ISTOCK  -  818 words
    • Article, Illustration
      Lock icon CONVENTIONAL WISDOM OR (UN)INTENTIONAL IGNORANCE?
      1520 32  -  Concerns over China reveal the dangers in staying in the comfort of familiarity and acceptance Special feature by Credit Agricole Private Banking Marie Owens Thomsen, Chief Economist, Credit Agricole Private Banking OHN Kenneth Galbraith, whom we can call the Shakespeare of economics, coined the phrase
      Source: Factset, Crédit Agricole Private Banking; ISTOCK ILLUSTRATION:  -  1,520 words
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        Lock icon Winners and losers
        1102 34  -  A volatile environment is structurally beneficial to the actively risk-managed approaches that hedge funds follow By ULRICH KELLER Ulrich Keller is Head and Chief Investment Officer, Alternative Funds Solutions, Credit Suisse NVESTORS navigating the Q4 2015 macro environment still find themselves caught between the powerful forces of
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        853 35  -  As stock markets cycle from expensive to cheap and back to expensive, they exhibit similarities that investors can exploit Leonardo Drago Co-founder AL Wealth Partners AL Wealth Partners is an independent Singapore-based company providing fund managemen t and advisory services to accredited investors 1 979 gave
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        1296 36  -  Niche markets and deregulation are creating new property investment opportunities Nicholas Holt Asia Pacific Head of Research Knight Frank Asia Pacific Pte Ltd A NEW post-Global Financial Crisis (GFC) real estate investment market landscape continues to emerge. The environment is characterised by growing cross-border money flows,
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        1071 38  -  homeWell bitten by the travel bug, affluent Singaporeans are recreating their gustatory experiences By RAHITA ELIAS SINGAPOREANS have become avid travellers, and the rich ones are even more so. According to the Visa Affluent Study 2015 published in June this year, Singapore’s affluent residents average 3.1
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        1249 39  -  The ebullience seen at Frieze London and Frieze Masters is a sign the international art market is in good health Tara Loader Wilkinson Editor in Chief, Billionaire Billionaire is the global luxury lifestyle website and magazine for ultra high net worth and affluent individuals pursuing the good
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      62 9 Asset Management Wealth Management Asset Services 20 years in Singapore 210 years of independence stability and a proven track record in wealth management Pictet would like to thank clients and colleagues for a successful 20 years in Singapore. s- id mt t,ft i 3; Bank Pictet Cie (Asia) Ltd. Marina
      62 words
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      197 13 The business of managing the family. As a successful entrepreneur, you invest significant resources in managing your business. At HSBC Private Bank, we invest in helping you manage the business of your family. With over 60 years' experience working with successful family businesses, we understand that planning for your family's
      197 words
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      264 15 Ld I LEEDON RESIDENCE FREEHOLD DISTRICT 10 IMMEDIATE OCCUPATION n it o m L d SPACE PRESTIGE MASTERPIECE RARE 5 HECTARES FREEHOLD LAND 2 0 0 M FOREST WALK LOCATED WITHIN GOOD CLASS BUNGALOW ENCLAVE MINUTES TO SINGAPORE BOTANIC GARDENS, A UNESCO WORLD HERITAGE SITE CLOSE TO DEMPSEY HILL AND
      264 words
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      631 17 ORGANISATION CONTACT DETAILS Premier Financial Institutions Tel +65 6597 8866 www.abnamroprivatebanking.com DESCRIPTION Tel +65 6536 4822 www.amundi.com/sgp ABN AMRO Private Banking has a mature local presence in more than 10 countries worldwide. Within Asia and Middle East, ABN AMRO currently has three private banking centres in Singapore, Hong Kong and
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      79 19 IMAGINE A BANK Imagine a bank where your interests really do come first. Imagine a bank combining global reach with local expertise. Imagine a bank that’s been looking forward for seven generations. Imagine a bank that manages and protects your family’s wealth. Welcome to Lombard Odier. Geneva Amsterdam Bermuda Brussels
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      99 21 AND THERE’S CHOOSING THE No.1* THERE’S PLACING A TRADE Trade volatile markets with the certainty of guaranteed stops Spot trends and trades with our powerful analysis tools Full dealing functionality on every device including Apple Watch Experience the difference trading with Singapore’s most preferred FX provider* Losses can exceed deposits
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      199 23 AMUNDI, MYINVESTMENTMANAGER MYTRUSTEDPARTNER No.1 IN EUROPE TOP 10 WORLDWIDE (1) (2) Amundi manages investments over US$1 trillion for clients worldwide. With investment insights powered by more than 500 investment professionals over 30 countries, we are committed to create the best solutions to achieve your investment goals. To learn more about
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      87 27 Building a legacy, one step at a time. #1 Most Reputable and Financially Stable Private Bank in Asia. -Asiamoney Polls 2014 2015. Your success today was built on the bedrock of your dedication. Like you, we believe that what matters most are trust, knowledge and opportunity to protect your legacy
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      594 29 At the heart of Europe: The principality of Monaco, where luxury resides Elite travelers say Monaco is blessed by the gods. Because of its location, at the heart of Europe, between France and Italy. Because of its landscape, one of the most beautiful on the Mediterranean coast. And because of
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      127 40 BANKOFSINGAPORE Asia's global private bank Like you, we believe success doesn't arrive by taking a back seat. k r > V V 7 t\av r..V ys fS,e World r eoC' e Bank of Singapore Private Banker Keeping abreast of market developments, 8:09am Business Owner Keeping up with expansion plans, 8:09am
      127 words