The Business Times, 23 December 2015

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1 24 The Business Times
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  • Title Section
    Lock icon Masthead
    35 1 THE BUSINESS TIMES 2015 SOCIETY OF NEWS DESIGN EXCELLENCE AWARD BEST IN OVERALL REDESIGN S$1.00 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg '3 I D @BTBreakingnews CO REGN NO *****2868E MCI (P) 039/08/2015 Wednesday, December 23,2015
    35 words
  • Article, Illustration
    Lock icon DAILY DIGEST
    217 1 Dealmakers celebrating a record year for mergers and acquisitions that was buoyed by mega deals are pinning their hopes on a larger number of smaller deals to fuel consolidation in 2016. TOP STORIES 2 The modernisation of Singapore’s growing financial advisory sector receives a significant push with the
    217 words
  • Article, Illustration
    Lock icon Recovery in offshore drilling demand nowhere in sight
    1417 1  -  Supply-wise, delays and cancellations of newbuilds are rising; many of the over 30 units slated for 2015 delivery will join the operating fleet along with the 60 slated for 2016 REVIEW 2015 By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore AS oil and
    Source: Clarkson Platou  -  1,417 words
  • Article
    Lock icon MARKETS
    28 1 MARKETS Tuesday Change STI 2,852.97 +7.42 KL COMP 1,643.26 +14.17 NIKKEI 225 18,886.70 -29.32 HANG SENG 21,830.02 +38.34 SHENZHEN B 1,336.65 +12.47 DOW (10.45 EST) 17,300.96 +49.34
    28 words
  • Article, Illustration
    Lock icon The Verge sold for S$317m, to make way for serviced residences
    908 1  -  Proposed project by Keith Tang, grandson of CK Tang founder, likely to include a mall and offices By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore THE Verge, a struggling mall in Little India, is being sold for S$317 million to a
    908 words
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      27 1 8 "*****1 *****4 DISTRESSED T LOANS Indian banking BM 0 0 sector grapples with debt 1 EXEC MONEY 24 SPACEX ROCKET NAILS SAFE RETURN LANDING PAGE 16
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      18 1 STRAIT TALK Don't forget the seafarers TRANSPORT/ 18 DISCLOSURE singPost made ‘administrative oversight’ in 2014 TOP STORIES 3
      18 words
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  • TOP STORIES
    • Article, Illustration
      Lock icon Japan to announce record budget despite huge fiscal deficit
      832 2  -  News of 96.7t yen budget comes ahead of Cabinet meeting on Thursday which is due to endorse spending By Anthony Rowley btworld@sph.com.sg Tokyo TAKING advantage of improved tax revenues, the Japanese government will announce a record 96.7 trillion yen (S$1.1 trillion)
      PHOTO: BLOOMBERG  -  832 words
    • Article
      Lock icon Dealmakers cheer year of mega deals as M&A hits record US$4.6t
      898 2 They pin hopes on a larger number of smaller deals to fuel consolidation in 2016 REUTERS London DEALMAKERS celebrating a record year for mergers and acquisitions (M&A) that was bolstered by mega deals are pinning their hopes on a
      REUTERS  -  898 words
    • Article
      Lock icon More questions about corporate governance at SingPost
      1041 3  -  TT LETTER TO THE EDITOR Mak Yuen Teen ON Dec 15, The Business Times published a commentary highlighting my corporate governance concerns at Singapore Post (SingPost). That commentary focused mainly on its board composition (including size; independence; skills and experience; tenure of directors;
      1,041 words
    • Article, Illustration
      Lock icon SingPost made ‘administrative oversight’ in 2014 deal disclosure
      1189 3  -  One of its directors had an interest in UK freight forwarder purchased by the company in 2014 By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore POSTAL and e-commerce group Singapore Post said on Tuesday that it had not properly disclosed a board director’s interest
      FILE PHOTO  -  1,189 words
    • Article, Illustration
      Lock icon New digital platform for financial advisory sector to streamline processes
      870 4  -  The integrated Financial Advisory Marketplace is an “open” concept that can be used by all FA firms and insurers By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore THE modernisation of Singapore’s growing financial advisory (FA) sector has received a significant push with
      Source: Life Insurance Association Singapore; PHOTO: ARTHUR LEE  -  870 words
    • Article
      Lock icon ConocoPhillips eyes fixed production structure for Aussie LNG
      554 4  -  By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore CONOCOPHILLIPS is understood to be weighing the feasibility of using a large fixed production structure over a proposed floating liquefied natural gas plant to extract gas reserves from greenfield developments off Australia, in a move
      554 words
    • Article
      Lock icon NTUC Income’s move will further its own business
      342 4  -  TT COMMENTARY By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore ’TIS the season to be jolly, and financial advisory (FA) firms here now have one more reason to be cheerful this Christmas now that insurer NTUC Income is playing Santa. The problem with the
      342 words
    • Article, Illustration
      Lock icon The return of the roundabout
      385 4  -  By Samuel Ee samuelee@sph.com.sg Singapore FAR from retreating into history, roundabouts seem to be slowly returning to Singapore roads. The latest is the one at Jalan Tiong in Redhill. The former T-junction with Lengkok Bahru has since been converted into a roundabout. It is understood
      PHOTO: LAURA NG  -  385 words
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      231 3 Fujitsu recommends Windows. Work With Greater Peace of Mind with Free Extended Warranty. i r n FUJITSU *7^ sWindows 10 FUJITSU LIFEBOOK E736 This stylish notebook is the right choice if you need high value features to support you in your daily work. With a lightweight from 1.6 kg, it
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Preventing error trades in consolidated shares
      418 5  -  SGX’s additional safeguards include indicators on stock price pages and reference prices By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore THE Singapore Exchange (SGX) will flag shares undergoing consolidation and introduce reference prices for brokers to prevent trading mistakes, the market operator announced on Tuesday in
      PHOTO: YEN MENG JIIN  -  418 words
    • Article
      Lock icon Outlook still soft as S’pore stocks look set for 15% loss this year: analysts
      724 5 BLOOM BERG Singapore SINGAPORE’S stocks are set for a 15 per cent tumble this year, putting them in the same league as Greece. Baring Asset Management and UBS Group say shares need to get even cheaper
      BLOOMBERG  -  724 words
    • Article
      Lock icon Reliance Communications in wireless merger talks with Aircel
      178 5 BLOOMBERG Mumbai BILLIONAIRE Anil Ambani’s Reliance Communications Ltd is in talks to merge with smaller wireless carrier Aircel Ltd in the latest sign that dealmaking in India’s telecommunications industry is heating up. Reliance is considering the “potential combination” of its wireless operations
      BLOOMBERG  -  178 words
    • Article
      Lock icon Low interest, bond yields ‘punishing’ for retirees
      573 6  -  US retirement savings now need to be four times what was required 40 years ago to generate the same level of investment income: S&P By Neil Behrmann btworld@sph.com.sg London LOW global interest rates are crippling baby-boomer retirees who are now at risk from
      573 words
    • Article, Illustration
      Lock icon Funds with US$3t taking a rain check on emerging market stocks
      741 6 BLOOMBERG London RICH pickings will be hard to find in emerging market shares next year. That’s the conclusion of most money managers as they see off the third successive year of declines that took stock prices to the lowest
      BLOOMBERG; PHOTO: REUTERS  -  741 words
    • Article
      Lock icon Thailand’s two biggest mobile firms vow to fight for market share
      256 6 REUTERS Bangkok THAILAND’S top two mobile operators said on Tuesday they had enough capacity to maintain their leading position even though they failed to win new 4G spectrum licences in last weekend’s auction. The entry of Jasmine International, one
      REUTERS  -  256 words
    • Article
      Lock icon DBS and OCBC bag top IFR Asia awards
      436 6  -  By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore DBS Group Holdings and OCBC Bank earned top regional and country honours at the 2015 IFR Asia Awards for their work as lenders and bond sellers. DBS became the first Singapore bank to be named Asian
      436 words
    • CORPORATE DIGEST
      • Article
        Lock icon Cosco Corporation (Singapore)
        92 6 SHARES in Chinese shipbuilder Cosco Corporation (Singapore) surged further on Tuesday, drawing a query from the Singapore Exchange on its unusual share price movements. The stock closed at S$0.435, up 3.5 Singapore cents or 8.8 per cent, on 31.4 million shares traded. On Monday, it rose six
        92 words
      • Article
        Lock icon SingHaiyi
        37 6 PROPERTY developer SingHaiyi Group said a joint venture it is in with Suntec Reit has completed its S$411.8 million acquisition of Park Mall. The mall will be redeveloped into two office blocks with a retail component.
        37 words
      • Article
        Lock icon Li Heng Chemical Fibre
        79 6 THE major shareholders of high-end nylon fibre maker Li Heng Chemical Fibre Technologies intend to take the firm private at S$1 a share. The price is around 60 per cent above its six-month and 12-month volume weighted average prices, and more than double its last traded
        79 words
    • Article, Illustration
      Lock icon Pennies in play as STI recoups Monday’s losses
      696 8  -  Index edges 0.3% higher to 2,852.97, in line with analysts’ predictions that it would encounter difficulty breaching 2,870 mark TT STOCKS By Melissa Tan melissat@sph.com.sg @MelissaTanBT PENNIES were in heavy play again on Tuesday as the local market slouched its way towards
      Source: Bloomberg  -  696 words
    • Article
      Lock icon STI STOCKS
      305 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 225 co -2 228/224 271 213 6.5 5910.2 CapitaLand 327 +3 329/323 379 267 12 2.8 *****.6 CapitaMall Trust 192 -2 193.5/192 228 184.5 5.6 6672.5 CityDev 765 +5 771/761 1095 695
      305 words
    • Article
      Lock icon MOST ACTIVE
      34 8 VOLUME Vashion 121,560,000 Terratech 52,877,000 LionGold 51,779,100 Global Tech 50,412,100 Ezra 38,461,900 Market volume 1,309,348,000 VALUE Singtel 66,387,478 Global Logistic 39,205,361 DBS Grp 31,287,786 HongkongLand USD 28,410,324 UOB 26,720,485 Market value 665,974,000
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    • Article
      Lock icon SGX ETFS
      108 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap Nikko AM STI ETF 296 cd 341 296/296 361/283 295/296 7.1 STI ETF 291 163 292/290 355/280 290/292 DBXT MSRussia US$ US165 70 165/164 235/155 164/165 DBXT MSBrazil US$ US226 -3 54 226/225 409/225 225/226 GLD
      108 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Dec 22 VALUE CLOSE BT OB/OS -327.00 +217.00 BT CADI -*****.00 +66.00 BT 10-day MA -*****.00 -33.00 FTSE ST Mid Cap 666.89 +0.27 FTSE ST Small Cap 400.35 +2.14 FTSE ST All Share 688.05 +1.52 FTSE ST China Top 168.87 +1.64 FTSE ST China 205.50 +1.56 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 8 STI FTSE ST All-Share FTSE ST All-Share index Dec 22,2015 688.05 +1.52 (+0.22%) Current streak 1 day Day high 688.28 Day low 685.96 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
      34 8 STI MSCI EAFE MSCI EAFE index Dec 21, 2015 1,682.53 -4.68 (-0.28%) Current streak 2 days Day high 1,696.52 Day low 1,681.59 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 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 5 3 0 0 1 5 5 4 Manufacturing 47 24 29 7 7 11 54 31 40 Commerce 28 8 12 5 4 1 33 12 13 Tpt/Stor/Comms 20 9 7
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 25,815 2,422 28,237 49,242 757 49,999 Manufacturing 81,412 221,180 302,592 62,148 5,393 67,541 Commerce 107,027 41,672 148,699 41,137 2,317 43,454 Tpt/Stor/Comms 143,050 1,511 144,561 152,820 124 152,945 Finance 15,532 15,532 95,121 95,121 Construction 31,245 1,554
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    • Article
      Lock icon GAINERS
      73 8 BY CENTS CLOSE UP 52w high/low SPDR DJIA US$ ***** 162.9 0.7 *****/***** GLD US$ ***** 74.4 0.5 *****/***** JMH USD 4800 44.9 0.7 6788/4500 JSH USD 2725 33.7 0.9 3693/2575 DBXT STGLDv US$ 2901 26.7 0.7 3302/2776 BY PERCENTAGE CLOSE UP 52w high/low LifeBrandz 0.6 100.0 0.3 0.9/0.1
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    • Article
      Lock icon LOSERS
      75 8 BY CENTS CLOSE DOWN 52w high/low IS S&P500 US$ ***** -794.9 -2.7 *****/***** DBXT iBoxxUSTr US$ ***** -94.1 -0.3 *****/***** DBXT MSEurope US$ 5403 -56.2 -0.7 6300/5225 IS ASIA BND S$D 1445 -35.0 -2.4 1482/1398 Jardine C&C 3369 -31.0 -0.9 4258/2636 BY PERCENTAGE CLOSE DOWN 52w high/low Infinio 0.1
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    • Article
      Lock icon UNUSUAL ACTIVITY
      81 8 VOL CLOSE($) CHANGE Global Tech 50,412.1 0.040 +0.008 +25.00 LifeBrandz 5,783.1 0.006 +0.003 +100.00 IPCO Intl 5,160.0 0.005 +0.002 +66.67 Jasper Inv 17,408.6 0.007 -0.002 -22.22 Singapore-eDev 800.0 0.042 +0.004 +10.53 Zhongxin Fruit 100.0 0.012 +0.003 +33.33 AnnAik 500.0 0.086 +0.005 +6.17 IFS Capital 50.0 0.340 -0.040 -10.53
      81 words
    • Article
      Lock icon BROKERS’ TAKE
      465 8  -  Compiled by Melissa Tan Asia strategy No rating UBS, December 2015 After a decent start to the year, thanks to strong performance from Hong Kong equities in particular, the market began to sell off from April onwards. With local exchange rates falling, in particular in South-east Asian economies
      465 words
    • Article
      Lock icon CALENDAR
      30 8 DATA I Dec 23 (1pm) S’pore Consumer Price Index I Dec 23 (4pm) S’pore COE Bidding Results I Dec 23 (8pm) US MBA Morgage Applications I Dec 23 (9.30pm)
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    • Article
      Lock icon Steadier oil prices, China hopes buoy A$ and NZ$
      444 9 TT CURRENCIES REUTERS London THE Australian and New Zealand dollars were the only big movers on major currency markets on Tuesday, buoyed by steadier oil prices and hopes of more official action to support growth in China. The US dollar, yen,
      REUTERS  -  444 words
    • FOREX RATES
      • Article, Illustration
        Lock icon HANG SENG
        2 9
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      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Dec 22 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.009 4.688 0.663 5.610 47.944 98.941 0.876 8.487 3.116 1.060 75.857 34.214 1.017 10.916 0.718 23.744 26.106 0.486 0.724 Canada 0.991 4.645
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 9
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      • Article, Illustration
        Lock icon DOW JONES
        2 9
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 9 Dec 22 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0160 1.0170 0.7234 0.7239 Canadian dollar 1.0069 1.0076 0.7172 0.7169 Euro 1.5332 1.5340 1.0916 1.0919 NZ dollar 0.9587 0.9591 0.6826 0.6827 Sterling pound 2.0913 2.0920 1.4890 1.4891
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Dec 22 S$ Bid Offer 1-month 1.4058 1.4064 2-months 1.4072 1.4078 3-months 1.4086 1.4092 6-months 1.4115 1.4122 Source: OCBC
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      • Article, Illustration
        Lock icon NIKKEI
        1 9
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        203 9 Most active Dec 22 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left FTSEChinaA50 ***** MBeCW*****6 10.3 -0.3 3690 0.0 --2 KepCorp MB eCW*****2 8.8 -0.2 2920 0.2 715 9 Rowsley Ltd W*****3 3.1 unch 2022 1 18 10 Asia-Pacific
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        365 9 In local curr In S$ In US$ dy yr dy yr dy yr Dec 21 Index Change Change Change Change Change Change World Preliminary 1254.2 -0.2 -1.7 -0.5 1.5 0.0 -4.5 EAFE Preliminary 991.6 -0.6 0.5 -0.7 0.7 -0.3 -5.2 Europe Preliminary 1376.8 -0.8 -0.4
        365 words
      • Article
        Lock icon SGX DERIVATIVES TRADING
        392 9 Dec 22 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Dec15 *****.00 *****.00 *****.00 *****.50 *****2 *****3 Jan16 *****.00 *****.00 *****.50 *****.00 *****3 ***** NIKKEI 225 INDEX FUTURES Mar16 *****.00 *****.00 *****.00 *****.00 ***** *****6 Jun16 *****.00 *****.00 *****.00 *****.00 10 614 MSCI TAIWAN
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 Dec 22 $S Offer Bid 0vernight 0.10 Par 1-month 1.0 0.875 2-months 1.125 1.0 3-months 1.1875 1.0625 Overnight mode: 0.20 US$ Offer Bid 7 days 0.43 0.33 1 month 0.45 0.35 2 months 0.60 0.40 3 months 0.70 0.50 6 months 0.90 0.70 9 months 1.05 0.85 12
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      • Article
        Lock icon GOVERNMENT SECURITIES
        69 9 Dec 22 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0F 1.375 01-Oct-17 100.63 100.72 100.71 5-Year N*****0S 2.000 01-Jul-20 100.76 100.90 100.85 10-Year NX*****Z 2.375 01-Jun-25 99.31 99.53 99.40 15-Year NZ*****F 2.875 01-Sep-30 101.45 101.70 101.70 20-Year NZ*****V 3.375 01-Sep-33 108.31
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        193 9 Dec-21 Price Net change change Last Trade Agricultural Dec-21 CBOT Soybeans (US cents/bu) 891.25 -1.00 -0.11% 14/01/2016 CBOT Soybean Oil (US cents/lb) 30.77 0.24 0.79% 14/01/2016 CBOT Wheat (US cents/bu) 479.00 -7.75 -1.59% 14/03/2016 Dec-21 LIFFE Cocoa (£/tonne) 2248.00 -9.00 -0.40% 14/03/2016 LIFFE Coffee (US$/tonne) 1482.00 -5.00 -0.34%
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      • Article
        Lock icon PALM OIL
        57 9 Dec 22 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 16 2274.0 2290.0 2290.0 2270.0 703 5268 Feb 16 2378.0 2394.0 2402.0 2372.0 2216 ***** Mar 16 2443.0 2468.0 2473.0 2438.0 ***** ***** Apr 16 2485.0 2516.0
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    • Article
      Lock icon SGX MAINBOARD
      1917 10 Transaction date: Dec 22 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Company Last Sale Vol ('000) High Day 153 131.5 AIMSAMP Cap Reit 138.5 unch 160 140 138 1 8 879 Div 175.5 109 ARA Asset Mgmt
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    • Article
      Lock icon SGX CATALIST
      359 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Company Last Sale vol ('000) High 3.6 1.1 t Adventus Low Div C'vr GrYld 10.1 4.3 t Artivision Tech P/E 15.5 5 t AsiaMedic 35 10 t SCnergy 10.2 -0.1 81
      359 words
    • Article
      Lock icon SGX ETF
      91 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last sale vol ('000) High 409 225 DBXT MSBrazil US$ US226 -3 54 226 225 LOW Div 1411 990 DBXT MSMSIA US$ US1040 -7 0 1040 1040 GrYld Net 2392
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
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      75 words
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  • Page 6 Advertisements
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      Lock icon Page 6 Advertisements Column 1
      98 6 V' 3 <4 HI 'V ■r-w. W Choose from a luxurious medley of gourmet treats at Cafe Noel that will not only add sparkle to your festive parties but also lend a magnificent charm to the season. The Cafe Noel booth is located on Level 2. (Please take the escalators
      98 words
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      Lock icon Page 7 Advertisements Column 1
      158 7 Live every minute. Live confident. Live kind. Live connected. Live joyful. Live generous. Live your Spark, Live more. As the year comes to an end, another begins full of hope, potential and amazing possibilities. Where every day is for living to the fullest, DBS' spark is to continue finding more
      158 words
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  • Page 10 Advertisements
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      71 10 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!
      71 words
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  • Page 12 Advertisements
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      Lock icon Page 12 Advertisements Column 1
      231 12 Christmas Special 2-Day Pass $15* Promotion ends on 31 December 2015 Ticket Prices inclusive of GST: TICKETS Early bird 1-DAY PASS $20 $30 2-DAY PASS $30 $40 Validity (Year 2016) 1 Jan 13 Jan Normal Date: Saturday Sunday 23 24 January 2016 14 Jan 20 Jan Venue: SPH News Centre
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  • REAL ESTATE
    • Article
      Lock icon Asian real estate investors plan to invest in the region in 2016: Colliers
      653 13  -  Its global survey also finds Asia-Pacific’s growth potential as a destination for offshore capital remains strong By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore SOME 48 per cent of Asia-Pacific real estate investors are sanguine that investment volumes in
      653 words
    • Article
      Lock icon NYU spends at least US$1.1m to renovate president’s residence
      966 13 Move draws criticism as the university is under pressure to control costs, high tuition, student debt NYT New York NEW York University (NYU) is known for bestowing lavish perks on its leaders. Its new president, Andrew Hamilton, will be no exception.
      NYT  -  966 words
    • Article, Illustration
      Lock icon Still time for permabears to join Aussie home-loan party
      552 13 REUTERS Sydney SOME foreign investors who missed out on lucrative returns because they avoided Australia’s residential mort-gage-backed securities (RMBS) for fear of a bursting property bubble are changing their view and considering investing in Australian debt. “Investors were less negative on
      REUTERS; PHOTO: BLOOMBERG  -  552 words
    • Article
      Lock icon PICTET
      263 13 Pictet-Absl Rtn Fxd Inc-HP EUR 17/12/2015 EUR 103,22 Pictet-Absl Rtn Glo Div-P EUR 17/12/2015 EUR 117,41 Pictet-Asian Equities Ex Japan-P USD 18/12/2015 USD 183,13 Pictet-Asian Local Currency Debt-P USD 18/12/2015 USD 141,71 Pictet-Biotech-P USD 17/12/2015 USD 748,44 Pictet-Clean Energy-P USD 17/12/2015 USD 72,30 Pictet-Digital Communication-P USD 17/12/2015 USD 231,04
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    • Article
      Lock icon Cheap money likely to push up UK house prices in 2016
      300 13 BLOOMBERG London LOW borrowing costs and a shortage of supply will drive UK house prices up 6 per cent next year, according to the Royal Institution of Chartered Surveyors. Demand for housing remains strong, driven by record-low interest rates
      BLOOMBERG  -  300 words
  • Page 13 Advertisements
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      Lock icon Page 13 Advertisements Column 1
      28 13 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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      Lock icon Page 13 Advertisements Column 2
      41 13 T Read the full research report at BTInvest (http://www.btinvest. com.sg/property) PAYA UBI INDUSTRIAL PARK LEASE SALE $1.30psf $310psf 200 to 7,500 sq ft Own parking space (not inclusive in listed area) onwards Tel: 9090 2222 Office: 53 Ubi Avenue 1 #01-11
      41 words
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  • BANKING & FINANCE
    • Article
      Lock icon Wall St mulls over registry of bankers’ misdeeds
      1195 14 When traders or bankers leave a firm, any instances in which they’ve violated the firm’s ethics or conduct rules would be listed on a central database BLOOMBERG Washington BANKERS’ misdeeds would be catalogued, by name, on a private registry for hiring managers
      BLOOMBERG  -  1,195 words
    • Article, Illustration
      Lock icon JPMorgan to pay US$150m in ‘London Whale’ US lawsuit
      291 14 REUTERS New York JPMORGAN Chase Co has agreed to pay US$150 million to resolve a securities fraud lawsuit by investors suing the bank over its “London Whale” trading scandal, which caused a US$6.2 billion loss. The settlement was disclosed in papers
      REUTERS; PHOTO: AFP  -  291 words
    • Article
      Lock icon Central banks devaluing currencies evoke memories of 1997 Asian crisis
      411 14 BLOOMBERG London THE pace at which central banks from Argentina to Azerbaijan surrendered their grip on exchange-rate policy this year is bringing back memories of the 1997 Asian currency crisis. At least four dollar pegs have been abandoned and half
      BLOOMBERG  -  411 words
    • Article
      Lock icon Green bonds likely to be part of Finland’s 6.5b-euro financing plan
      400 14 BLOOMBERG Helsinki FINLAND’S Municipality Finance, the unit that gets debt funding for the local government sector, is looking into packaging funding projects so that investors can buy into green bonds. Should MuniFin go ahead with the plan next year,
      BLOOMBERG  -  400 words
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      316 14 NOTICES In the matter of The Companies Act (Cap. 50) and In the matter of TECA Engineering Pte. Ltd. (In Liquidation) Reg. No. *****5233G Notice of Resolutions Minutes of the Extraordinary General Meeting passed pursuant to Section 184A of the Companies Act, Cap. 50 on 18 December 2015. Special Resolution
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      31 14 SELL YOUR CAR BY BIDDING RECEIVE HIGHEST SELLING PRICE IN 1 WORKING DAY Call us now for a FREE Car Valuation 6744 7571 ONLINE BIDDING BY OVER 300 USEDCAR DEALERS! www.sgcarmart.com/quotz
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      13 14 $46.7m stock dividends go unclaimed To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • ENERGY & COMMODITIES
    • Article
      Lock icon McDermott consortium bags Vashishta contract
      327 15  -  Award by India’s Oil Natural Gas Corp confirms earlier BT report of the group as frontrunner By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore INDIA’S state-owned Oil Natural Gas Corporation has awarded McDermott International Inc and L&T Hydrocarbon Engineering a turnkey contract for major subsea field
      327 words
    • Article
      Lock icon Greybull Capital favourite to buy Tata Steel’s UK-based unit: sources
      446 15 REUTERS London INVESTMENT firm Greybull Capital has emerged as a favourite to buy Tata Steel’s struggling UK-based unit, in a move that could offer some relief to Britain’s troubled steel sector. The country’s largest steelmaker has been trying to sell
      REUTERS  -  446 words
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      Lock icon UK steel in crisis with close to 4,000 jobs lost
      414 15 REUTERS London GOVERNMENT action to address domestic and European Union policies that cripple Britain’s steel sector are still not enough to secure the industry’s future, a parliamentary committee report said on Monday. Nearly 4,000 jobs were lost in the British
      REUTERS; FILE PHOTO  -  414 words
  • Page 15 Advertisements
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      28 15 y www.omy.sg v 7> \».Ai5f Christmas Wonderland Hj-Si S HSUS SCAN 8 WATCH more lifestyle.omy.sg Looking for your DREAM HOME? Buy/Sell/ Ren t Valuations m A. SRX.com.sg mm.
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      652 15 NOTICES T O L L F R E E 1 8 0 0 -2 8 9 8 8 2 2 I E m a i l n o t i c e s s p h c o m s g I w w w s p h c l
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      475 15 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF DET SGP PTE. LTD. (In Members’ Voluntary Liquidation) (Company Registration No. *****0997C) NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the Company held pursuant to Section 179(6) of the Companies Act, Cap. 50 on 18
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      713 15 YHI INTERNATIONAL LIMITED (Incorporated in the Republic of Singapore) (Company registration no. *****7455H) NOTICEOFEXTRAORDINARYGENERALMEETING NOTICE IS HEREBY GIVEN that the Extraordinary General Meeting of YHI INTERNATIONAL LIMITED (the “Company”) will be held at No. 2 Pandan Road Singapore *****4 on 8 January 2016 at 9.30 a.m. for the purpose of
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  • CONSUMER
    • Article
      Lock icon Consumer and retail M&A deals cross US$457b mark in 2015
      611 17 Low interest rates and recovering global economies help lift acquisition volumes to a new high BLOOMBERG London CONSUMER companies struck a record amount of deals this year from hot dogs and cigarettes to the beers you wash them down with.
      BLOOMBERG  -  611 words
    • Article, Illustration
      Lock icon Fight behind the scenes over Yoox Net-a-Porter
      1017 17 Management of Net-a-Porter against the merger NYT New York FOR many in the fashion industry, it appeared to be a smooth and logical merger. The two biggest names in the business of selling luxury fashion online, Yoox and Net-a-Porter, announced plans this spring
      NYT; PHOTOS: BLOOMBERG  -  1,017 words
    • Article
      Lock icon Toshiba sinks to six-year low after it flags record 550b yen loss
      475 17 BLOOMBERG Tokyo TOSHIBA Corp fell to the lowest in more than six years in Tokyo after forecasting a record 550 billion yen (S$6.4 billion) loss and announcing plans to cut more jobs as it restructures businesses. The shares
      BLOOMBERG  -  475 words
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      Lock icon Bad boy Shkreli fired from pharma company KaloBios
      317 17 AFP New York THE controversial US pharma boss and hedge fund figure Martin Shkreli has been fired as CEO of KaloBios Pharmaceuticals following his arrest on fraud charges, the firm said on Monday. The news came on the heels of Mr Shkreli’s
      AFP; PHOTO: REUTERS  -  317 words
    • Article
      Lock icon Don’t forget the seafarers and the fishermen
      777 18  -  For those at sea, work, together with its inherent risks, carries on as usual over the Christmas and New Year season TTSTRAIT TALK BY DAVID HUGHES SO that’s another year nearly wrapped up. For many, Christmas and New Year offer a respite from
      777 words
    • Article
      Lock icon Cheaper, quicker in-flight connectivity on the cards for Asia: Inmarsat
      477 18  -  Airlines could get creative by getting advertisers onboard to defray some of the service costs By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore IN-FLIGHT connectivity could get more affordable and faster in Asia in line with growing demand, said Bill Peltola, Inmarsat
      477 words
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      Lock icon Mild weather eases strain on UPS, FedEx amid record holiday rush
      742 18 BLOOMBERG Dallas UNITED Parcel Service Inc and FedEx Corp may get some help from the weather and better coordination with online retailers as they move into the final days of a record Christmas shipping season. The busiest day for
      BLOOMBERG; BLOOMBERG FILE PHOTO  -  742 words
    • Article
      Lock icon Driverless cars spell danger for one of world’s top part-makers
      418 18 BLOOMBERG Osaka A JAPANESE company that once revolutionised the car industry by inventing electric power-steering now finds itself on the wrong side of the latest technology innovation: driverless cars. JTEKT Corp’s innovation almost three decades ago outperformed the traditional hydraulic
      BLOOMBERG  -  418 words
    • Article
      Lock icon Nervous investors drive down Asian airline stocks in 2015
      490 18 BLOOMBERG Singapore ASIAN airlines improved their safety records in 2015, but outside of China and India you wouldn’t know it from looking at their stock performance. AirAsia Bhd and its long-haul unit have been Asia’s worst-performing airline stocks this year after
      BLOOMBERG  -  490 words
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      68 17 cc Life is not just eating, drinking, television and cinema…The human mind must be creative, must be self-generating; it cannot depend on just gadgets to amuse itself.” Speech at the Chinese New Year and Hari Raya Haji celebrations at Joo Seng Community Centre in 1970 Catch these and other piquant
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      46 17 BuildTech Mandalay 2016 Mandalay's Leading Building Technology and Supply Event DECEMBER 2016 Mandalay City Hall, Myanmar Mandalay’s FIRST Building Construction Trade Exhibition! DISCOVER MARKET OPPORTUNITIES! PREMIUM SPACES AVAILABLE! Contact us today at btmandalay@sph.com.sg or cal I+65 6319 4037 Visit www.btmandalay.com for more information! to r it
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      71 17 ITSHOW 2016 10-13 March 2016 SUNTEC Singapore Levels 3,4 6 L3,11am-9pm L4 L6, 12-9pm fb.com/ComexITShow Singapore’s LARGKT Singapore’s LARGEST I.T. consumer electronics exhibition. Thousands of consumers will be there to buy your tech products services! *Limited Booths Available Book Your Space NOW! *Limited Booths Available Call *****620 or email to
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Consumer spending boosts Q3 growth
      901 19 Economy expands at revised 2 per cent annualised rate; payroll gains, cheap petrol are supporting Americans LATEST US DATA BLOOMBERG REUTERS Washington The US economy expanded at a revised 2 per cent annualised rate in the third quarter, buoyed by consumer spending as businesses struggled
      BLOOMBERG; REUTERS; PHOTO: BLOOMBERG  -  901 words
    • Article
      Lock icon Indonesia punishes 23 firms over forest fires
      351 19 AFP Jakarta INDONESIA is punishing more than 20 companies in an unprecedented move for starting deadly forest fires that killed 19 people, a government official said on Tuesday. Three companies have been shut down permanently after having their licences revoked over their role
      AFP  -  351 words
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      Lock icon Draghi seen having done enough for economy, euro
      893 19 BLOOMBERG Edinburgh AFTER European Central Bank (ECB) president Mario Draghi extended monetary stimulus, strategists have come to the conclusion he’s done enough to revive the economy with policies that helped push the euro down about 10 per cent versus the dollar this
      BLOOMBERG; PHOTO: REUTERS  -  893 words
    • Article
      Lock icon Spain’s deficit targets at risk amid political uncertainty
      704 19 BLOOMBERG Madrid AMID the uncertainty over Spain’s political future after Sunday’s inconclusive election result, one thing is clear: The country’s budget-deficit targets are at risk. Three of the four biggest parties in the new parliament promised voters during the campaign they’d persuade
      BLOOMBERG  -  704 words
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  • OPINION
    • Article
      Lock icon IMF governance reforms are a good first step, but more are needed
      590 20 EDITORIAL FIVE years after the International Monetary Fund (IMF) quota and governance reforms were mooted at the G-20 economic summit in Seoul, the US Congress finally adopted legislation to authorise these reforms last week. This authorisation comes not
      590 words
    • Article
      Lock icon AEC will be a welcome economic catalyst
      794 20  -  TT THE BOTTOM LINE By Guy Harvey-Samuel T The writer is group general manager and CEO, HSBC Singapore ASEAN has far greater economic potential when viewed as a whole rather than the sum of its parts. As a region, Asean trade is on
      794 words
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      Lock icon Managing the costs of compliance in Singapore
      997 20  -  Among other things, fund managers should change their mindset, see compliance as a powerful enabler and avoid spending too much on it. BY DENNIS LEE, DANIEL LIM AND ALVIN BY DENNIS LEE, DANIEL LIM, ALVIN MUN T The writers are from RSM Risk
      PHOTO: REUTERS  -  997 words
    • Article
      Lock icon Carbon pricing: not such a clean option
      963 21  -  TT COMMENTARY By Serguei Netessine INSEAD KNOWLEDGE T The writer is Insead professor of technology and operations management and the Timken chaired professor of global technology and innovation at the business school CARBON pricing has been hailed as the best way to bring
      963 words
    • Article
      Lock icon Looking for the perfect gift? Social science can help
      752 21  -  By Arthur C Brooks T The writer is the president of the American Enterprise institute and a contributing NYT opinion writer NYT ARE you in a panic, not sure what to get that special someone this year? Fear not, because my
      NYT  -  752 words
    • Article
      Lock icon Investors remember: caveat emptor
      305 21  -  TT LETTER TO THE EDITOR Andrew Seaw Chwee Guan Singapore I REFER to the article “Gold mining investors in S’pore desperate to recoup money” (BT, Dec 17). As a retail investor, I am concerned over the growing number of investors who are left in the lurch
      305 words
    • Article, Illustration
      Lock icon Beijing-Tokyo battle rages for mega infrastructure projects
      1149 21  -  Their rivalry raises questions about the way funding and operational demands on two regional development banks China-led AIIB and Japan-led ADB are likely to evolve By Anthony Rowley AS the formal opening of the Asian Infrastructure Investment Bank (AIIB) draws near with the
      PHOTO: REUTERS  -  1,149 words
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  • Article
    Lock icon SHIPPING TIMES
    2158 22 MONTREAL 10 120 29/7 30/7 4/8 MONTREAL 10 120 29/7 30/7 4/8 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) SIN PKL KUC KK JKT SUR EMERALD CORAL 98 60 29/12 30/12 2/1 5/1 MALAYSIA STAR 54 50 9/1 10/1 14/1 16/1
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  • Page 22 Advertisements
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      72 22 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THEBLSLNESS TIMES SHIPPING TIMES Spotlight Award Wins Recognition Come publicise your Award Wins Recognition, Ship Christenings Delivery of New Builds. Project Completion, Vessel Conversion Refurbishment and Company Anniversaries. There’s no better way to anchor your company to
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon Keep dreaming, it won’t be a white Christmas this year
      687 23 Scientists say that 2015 is likely to be the hottest year in modern history AFP Paris IN a season traditionally associated with ice-skating, snowball fights and mulled wine in wintry Europe, birds are chirping, flowers blooming and fake snow is
      AFP; PHOTO: REUTERS  -  687 words
    • Article, Illustration
      Lock icon Adele says streaming service is ‘disposable’
      216 23 AFP New York ADELE, who has shunned streaming services with her record-shattering new album 25, says that she finds such online music platforms to be “a bit disposable”. The British singer, who did not explain her decision when the album came out on Nov
      AFP  -  216 words
    • Article, Illustration
      Lock icon Benefits of yoga may go bone-deep
      877 23 NYT New York YOGA enthusiasts link the practice to a long list of health benefits, including greater flexibility and range of motion, stronger muscles, better posture and balance, reduced emotional and physical stress, and increased self-awareness and self-esteem. But definitively proving these benefits is
      NYT; PHOTO: AFP  -  877 words
    • Article
      Lock icon A dark ‘unbundling’ force looms large at Disney
      784 23 NYT New York ALL anyone can talk about is Star Wars: The Force Awakens and the more than half-billion-dollar haul that the Walt Disney Co pulled in over the weekend. The press has been breathless and Wall Street analysts are mostly giddy
      NYT  -  784 words
  • Page 23 Miscellaneous
    • Miscellaneous
      Lock icon Page 23 Miscellaneous Column 1
      313 23 CRYPTIC CROSSWORD Across 8 Some admired a lively artist (4) 9 Contemplation after minute’s gone in exercise (3) 10 Pass drinks hidden in middle of beer (6) 11 Opening? It has developed around university (6) 12 Object in collection, remarkable type (8) 13 Source of legitimacy in post? (8-7) 15
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  • EXECUTIVE MONEY
    • Article, Illustration
      Lock icon Fidelity banks on Irish resurgence
      460 24 BLOOMBERG Dublin FIDELITY Worldwide Investment is trawling Ireland as the economy grows more quickly than anywhere else in the developed world. The company’s £2.8 billion (S$5.9 billion) Special Situations Fund is investing in Irish stocks including Bank of Ireland plc, hotelier Dalata plc and homebuilder
      BLOOMBERG; PHOTO: BLOOMBERG  -  460 words
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      Lock icon India’s banking sector grapples with debt
      688 24 Distressed loan buyers unable to help banks clean up their balance sheets REUTERS Mumbai SET up over a decade ago to absorb India’s mountain of distressed loans, asset reconstruction companies have done little to recover cash or relieve a debt-choked banking system. Instead, at
      REUTERS; PHOTO: REUTERS  -  688 words
    • Article
      Lock icon Muni trades that pushed Pimco to the top in tough 2015
      827 24 BLOOMBERG New York PACIFIC Investment Management Co’s high-yield municipal-bond mutual fund is jockeying for the top returns of 2015 after picking winners among pockets of distress. Here are the calls that put it there: Puerto Rico, the junk-rated Caribbean
      BLOOMBERG  -  827 words
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      Lock icon Nomura poised to retake top spot for underwriting Japanese corporate bond sales
      708 24 BLOOMBERG Tokyo NOMURA Holdings Inc is set to retake the top spot for underwriting Japanese corporate bond sales in a year when issuance fell to lowest since 2006 as companies restrained investment. Japan’s largest brokerage managed 1.3 trillion
      BLOOMBERG; PHOTO: REUTERS  -  708 words