The Business Times, 5 February 2016

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Total Pages: 26
1 26 The Business Times
  • 22 1 THE BUSINESS TIMES S$1.00 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BTBreakingnews CO REGN NO *****2868E MCI (P) 039/08/2015 Friday, February 5, 2016
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  • 27 1 Thursday Change STI 2,558.49 +7.75 KL COMP 1,656.77 +23.47 NIKKEI 225 17,044.99 -146.26 HANG SENG 19,183.09 +191.50 SHENZHEN B 1,145.48 +11.40 DOW (10:45am EST) 16,460.44 +123.78
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  • Article, Illustration
    246 1 HSBC will locally incorporate its retail operations on May 9, 139 years after the bank opened its first branch in Singapore.TOP STORIES 2 The drop in jet fuel prices boosted SIA’s bottom line in Q3 by 35.7 per cent to nearly S$275 million. TOP STORIES/4 ARA Asset Management
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  • 845 1  - Some banks going the extra mile to help offshore sector for now Banks with larger exposure work with clients beyond just debt restructuring to alleviate stress imposed by low oil prices By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore BANKS are proactively managing their exposure to the beleaguered offshore and marine
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  • 783 1  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore AFTER five long years of tough negotiations and several missed deadlines, Singapore and 11 other Pacific-Rim nations finally put pen to paper on the Trans-Pacific Partnership (TPP), a big step towards establishing what will be
    PHOTO: XINHUA  -  783 words
  • Page 1 Advertisements
    • 100 1 8 "*****1 *****4 SINGAPORE FILMS Home box office set to heat up BT LIFESTYLE 26 ss C? 2 m MEGA THE WORLD'S FIRST MASTER CHRONOMETER Proven at the industry's highest level, the OMEGA Globemaster has been rigorously tested and officially certified by the Swiss Federal Institute of Metrology (METAS). Along
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    • 23 1 HOCK LOCK SIEW Amid the gloom, room for optimism for CCT COMPANIES MARKETS 5 BOARDROOM ISSUES Protecting investors from controlling shareholders opinion 20
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    • 4 1 More reports, Page 2
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  • TOP STORIES
    • 613 2  -  Local incorporation means customer deposits will be ringfenced from group operations B y Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore ONE hundred and thirty-nine years after HSBC opened its first branch in Singapore, the bank will locally incorporate its retail operations on May 9
      PHOTO: BLOOMBERG  -  613 words
    • 536 2  -  It says the LNG spot market in Asia would take time to evolve, but the factors aiding it are already in place By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore THE next one to two years presents “a clear
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    • 858 2  -  OFFSHORE TURBULENCE By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore DBS, a major bank creditor behind Pacific Richfield Marine Pte Ltd (PRM), is understood to have helped identify buyers or charterers for five of the 40 offshore support vessels (OSV) earmarked for
      FILE PHOTO  -  858 words
    • 653 2  -  By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore MALAYSIAN pilgrim fund-oilfield services provider, TH Heavy Engineering (THHE), is set to receive up to RM2 billion (S$682 million) in cash injection from Maybank as part of an operational and financial restructuring. THHE had
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    • 441 3  -  COMMENTARY By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT MALAYSIA’S economic strength is good. Well, not quite; it’s strength-o-meter is, in fact, “very high”, thanks to abundant natural resources, and an open and diversified economy. That’s how Moody’s Investors Service described the crude-reliant economy
      PHOTO: REUTERS  -  441 words
    • 732 4  -  All carriers in the group except SIA Cargo turn in better performance at the operating level By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore THE drop in jet fuel prices boosted Singapore Airlines’ (SIA) bottom line for Q3FY16, up 35.7 per cent year on
      PHOTO: YEN MENG JIIN  -  732 words
    • 746 4  -  By Anthony Rowley btworld@sph.com.sg Tokyo THE global slump in the price of stocks and other financial assets comes from a contraction in central bank liquidity, which is likely to continue and drive markets further down, the Washington-based Institute of International Finance
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    • 353 4 BIG OIL REUTERS London ROYAL Dutch Shell, Europe’s largest oil company, reported its lowest annual income in over a decade on Thursday, and said it would take further steps to cut costs to cope with weak oil prices if needed.
      REUTERS  -  353 words
    • 601 4 BLOOMBERG London THE world’s largest oil companies have a plan to weather the worst market in over a decade: borrow more money. Major oil companies faced with the lowest crude prices since 2003, capital spending budgets with little left to cut, and
      BLOOMBERG  -  601 words

  • Page 3 Advertisements
    • 1188 3 SAIZEN REAL ESTATE INVESTMENT TRUST (A real estate investment trust constituted in the Republic of Singapore pursuant to a trust deed dated 27 September 2007 (as amended)) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an extraordinary general meeting (the “EGM”) of Saizen Real Estate Investment Trust (“Saizen
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  • Page 4 Advertisements
    • 78 4 One New Year, 55 Celebrations J|L> ES<4 i 'i K > 7. m r “C r itp Spring Blossom K •f-fc <* V 7 M r Y i vA T FEBRUARY ISSUE OUT N >^ E w:*. > AppStore play y BJg|B E B ZbBz offers an effective bilingual marketing
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  • COMPANIES & MARKETS
    • 1023 5  -  Office landlord may be better prepared than most, amid an avalanche of office space set for completion in ‘16-‘17 HOCK LOCK SIEW By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT WHILE CapitaLand Commercial Trust (CCT), like other major office landlords, will face strong headwinds this
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    • 400 5  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore REIT manager ARA Asset Management on Thursday said net profit for the fourth quarter rose 41 per cent, mainly on higher management fees and finance income, as well as lower expenses. Net profit for
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    • Article, Illustration
      62 6 STI Catalist Straits Times Index Feb 4,2016 2,558.49 +7.75 (+0.30%) Current streak 1 day Day high 2,579.18 Day low 2,554.08 52-week high 3,539.95 (Apr 15, 2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist index Feb 4,2016 431.46 +0.72 (+0.17%) Current streak 3 days Day high 434.71 Day low
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    • 76 6 BY CENTS CLOSE UP 52w high/low GLD US$ ***** 258.6 1.7 *****/***** DBXT MSKorea US$ 4833 148.4 2.2 6246/4478 DBXT Nifty50 ETF10 ***** 67.8 0.4 *****/***** DBXT MSTaiwan US$ 1839 63.6 2.5 2392/1667 DBXT MSAsExJp US$ 2904 59.4 1.5 4064/2772 BY PERCENTAGE CLOSE UP 52w high/low Luxking 50 96.1
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    • 72 6 BY CENTS CLOSE DOWN 52w high/low JMH USD 5220 -98.9 -1.3 6700/4500 Lyxor Nasdaq US$ 1655 -42.4 -1.8 1865/1598 DairyFarm USD 587 -19.8 -2.3 977/576 Hyflux 6% CPS ***** -10.0 -0.1 *****/***** SIA 1082 -10.0 -0.9 1235/957 BY PERCENTAGE CLOSE DOWN 52w high/low Infinio 0.1 -66.7 -0.2 0.7/0.1 S
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    • 82 6 VOL CLOSE($) CHANGE China Great Land 100.0 0.016 +0.004 +33.33 Luxking 6.7 0.500 +0.245 +96.08 Global Tech 27,784.1 0.045 +0.012 +36.36 AVIC 24.5 0.047 -0.006 -11.32 Karin Tech 560.2 0.280 -0.025 -8.20 Amplefield Ltd 550.0 0.033 -0.007 -17.50 Excelpoint 40.0 0.280 +0.050 +21.74 KS Energy 507.5 0.194 -0.016
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    • 662 6  -  Index rises 7.75 points with the broad market chalking up 208 rises versus 148 falls amid weak turnover STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT A DRAB session for the local stock market on Thursday ended with the Straits Times index a nett 7.75
      Source: Bloomberg  -  662 words
    • 305 6 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 234 +1 238/233 271 209 6.2 6146.6 CapitaLand 295 -1 302/295 379 267 10.8 3.1 ***** CapitaMall Trust 202 +2 203/199 228 184.5 5.6 7021.6 CityDev 697 +9 701/688 1095 661 8.4
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    • 38 6 VOLUME Secura W*****5 42,499,500 Noble 41,916,500 Golden Agri-Res 40,481,400 Global Logistic 37,682,200 Rex Intl 33,233,500 Market volume 920,667,000 VALUE DBS Grp 83,336,211 Singtel 62,846,902 Global Logistic 62,102,222 Keppel Corp 43,506,739 OCBC Bank 40,348,266 Market value 870,172,000
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    • 77 6 Feb 4 VALUE CLOSE BT OB/OS -34.00 +180.00 BT CADI -*****.00 +45.00 BT 10-day MA -*****.00 -3.00 FTSE ST Mid Cap 633.06 +5.83 FTSE ST Small Cap 374.47 +0.13 FTSE ST All Share 632.58 +0.73 FTSE ST China Top 149.74 -0.25 FTSE ST China 178.66 -0.24 FTSE
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    • 106 6 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 256 -1 533 260/256 355/254 256/257 DBXT MSRussia US$ US158 +4 192 158/153 235/129 158/159 IS MS INDIA US$ US626 +4 102 630/621 838/605 626/629 78.3 Lyxor Taiwan US96.2 -0.2 60 96.2/96.1 128.5/90 -/-22.9
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    • 35 6 STI FTSE ST All-Share ftse ST All-Share index Feb 4,2016 632.58 +0.73 (+0.12%) Current streak 1 day Day high 636.82 Day low 632.37 52-week high 847.98 (Apr 15, 2015) 52-week low 625.37 (Jan 21, 2016)
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    • 33 6 STI MSCI EAFE MSCI EAFE index Feb 3,2016 1,570.57 -10.29 (-0.65%) Current streak 2 days Day high 1,584.12 Day low 1,558.64 52-week high 1,949.49 (May 15, 2015) 52-week low 1,517.92 (Jan 20, 2016)
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    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 9 1 2 1 0 0 10 1 2 Manufacturing 41 31 21 7 4 11 48 35 32 Commerce 15 15 16 4 5 2 19 20 18 Tpt/Stor/Comms 10 16 7
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    • 123 6 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 22,678 2,064 24,742 78,053 315 78,368 Manufacturing 111,968 15,257 127,225 60,752 1,101 61,853 Commerce 85,504 17,624 103,128 73,446 528 73,974 Tpt/Stor/Comms 113,770 967 114,737 154,999 81 155,080 Finance 16,653 16,653 170,728 170,728 Construction 7,007 2,630
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    • I BROKERS’ TAKE
      • 113 6 M1 Buy Target price: s$2.82 Feb 4 close: S$2.33 Citi Research, Feb 3 M1’s share price plunged 43 per cent from its peak in FY 2015 on concerns of the potential entry of a new player and the effects of rising interest rates. We believe the concerns have been more
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      • 179 6 UOB Kay Hian Research, Feb 4 WE performed a stress test and sensitivity analysis for banks’ exposure to the oil and gas (O&G) sector as prices for crude oil are expected to stay lower for a longer period of time. Among Singapore banks, DBS has the largest exposure to
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      • 139 6  - Valuetronics Holdings Buy Compiled by Cai Haoxiang Target price: S$0.52 Feb 4 close: S$0.38 UOB Kay Hian Research, Feb 4 WE adjust our forecast on the back of a steeper-than-expected decline in LED sales, which was partially offset by stronger growth from the industrial and consumer electronics segment. Valuetronics is
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    • 10 6 DATA I Feb 5 (930 pm) US unemployment rate
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    • 443 7 CURRENCIES REUTERS London THE US dollar was back on the defensive in early trade in Europe after a collapse in expectations of a further rise in US interest rates this year drove its biggest daily fall in over two months on Wednesday.
      REUTERS  -  443 words
    • FOREX RATES
      • 471 7 Feb 4 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.987 4.717 0.646 5.584 48.655 98.021 0.845 8.620 2.978 1.076 74.885 34.261 1.013 11.480 0.721 23.917 25.548 0.492 0.717 Canada 1.013 4.777
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      • 155 7 Feb 4 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0131 1.0138 0.7169 0.7172 Canadian dollar 1.0260 1.0269 0.7264 0.7261 Euro 1.5685 1.5697 1.1100 1.1104 NZ dollar 0.9417 0.9424 0.6664 0.6667 Sterling pound 2.0610 2.0623 1.4585 1.4589
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      • 22 7 Feb 4 S$ Bid Offer 1-month 1.4139 1.4147 2-months 1.4148 1.4159 3-months 1.4158 1.4168 6-months 1.4189 1.4200 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • 393 7 Feb 4 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Feb16 8705.00 8875.00 8642.50 8800.00 *****4 *****1 Mar16 8555.00 8742.50 8520.00 8675.00 1450 7093 NIKKEI 225 INDEX FUTURES Mar16 *****.00 *****.00 *****.00 *****.00 *****0 *****6 Jun16 *****.00 *****.00 *****.00 *****.00 293 5824 MSCI TAIWAN
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      • 206 7 Most active Feb 4 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Secura Group W*****5 2.3 0.6 ***** 1 35 66 9.78 35 Second Chance Prop W*****4 0.1 -0.1 ***** 1 40 *****.00 17 KepCorp MB eCW*****1 7.1 unch
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      • 377 7 In local curr In S$ In US$ dy yr dy yr dy yr Feb 3 Index Change Change Change Change Change Change World Preliminary 1175.9 -0.9 -8.0 -0.6 -7.4 -0.3 -7.8 EAFE Preliminary 922.2 -2.0 -9.0 -0.9 -8.1 -0.7 -8.5 Europe Preliminary 1289.1 -1.5 -8.7
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    • BANK RATES
      • 154 7 Feb 4 $S Offer Bid 0vernight 0.20 0.10 1-month 1.125 1.000 2-months 1.1875 1.0625 3-months 1.2500 1.1250 Overnight mode: 0.45 US$ Offer Bid 7 days 0.45 0.35 1 month 0.48 0.38 2 months 0.65 0.45 3 months 0.75 0.55 6 months 1.00 0.80 9 months 1.20 1.00 12
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      • 70 7 GOVERNMENT nouns 1'-mud 1:'¢.II: -Luuuun Mmmnq I tn-aw U/N3’ -‘uh man u‘.\'-.‘ and u umr mw 2-‘(eat N2°15'|OOF 1.375 01-Oct-17 100.49 100.53 100.53 .5-‘veau Nx1t100x 2.250 01-mn-21 101.91: 101.90 101.00 10-Yréat NX151DOZ 2.37:: 01 -M1-25 101.51 101.65 101.40 1E~Year Nzmmur 2.875 D1-Sen-'31] 103.46 103.05 103.30 20-Ye-at N21 31o0V
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    • AGRI METALS ENERGY
      • 193 7 Feb-3 Price Net change change Last Trade Agricultural Feb-3 CBOT Soybeans (US cents/bu) 876.75 -9.50 -1.07% 14/03/2016 CBOT Soybean Oil (US cents/lb) 30.98 0.19 0.62% 14/03/2016 CBOT Wheat (US cents/bu) 480.00 4.75 1.00% 14/03/2016 Feb-3 LIFFE Cocoa (£/tonne) 2015.00 25.00 1.26% 14/03/2016 LIFFE Coffee (US$/tonne) 1402.00 5.00 0.36%
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      • 57 7 Feb 4 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Feb 16 2465.0 2454.0 2485.0 2449.0 365 4708 Mar 16 2497.0 2505.0 2525.0 2478.0 2366 ***** Apr 16 2540.0 2547.0 2568.0 2517.0 ***** ***** May 16 2540.0 2543.0
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    • 534 8  -  Q3 profit up only 0.6 per cent even as revenue rises 32 per cent By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore Singapore AFTER gorging on acquisitions over the past few years Singapore Post will now be taking a break to digest them, it indicated on
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    • 668 8  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore GLOBAL Logistic Properties (GLP) on Thursday reported a 63.8 per cent increase in net profit to US$184.2 million, while revenue rose 11.1 per cent to US$198.9 million. The logistics facilities owner said its results were underpinned
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    • 462 8  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore THE Accounting and Corporate Regulatory Authority (Acra) has told consultancy PricewaterhouseCoopers (PwC) that it must put in place “any necessary safeguards” to ensure its independence as special auditor into Singapore Post’s (SingPost) corporate governance issues. This
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    • 583 8  -  By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore PERENNIAL Real Estate Holdings has posted net profit of S$41.1 million for the quarter ended Dec 31, 2015, up 93 per cent from a year ago. This was mainly due to slightly higher fair-value gains
      Source: Perennial Real Estate Holdings  -  583 words
    • 425 8  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore CAPITALAND Retail China Trust (CRCT) on Thursday posted a distribution per unit (DPU) of 2.59 Singapore cents for its fourth quarter ended Dec 31,2015,4.4 per cent higher than what it paid out a year ago.
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    • 376 8  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore WING Tai Holdings’ net profit for the second quarter ended Dec 31, 2015 slumped 85 per cent year-on-year to S$1.08 million, dragged down by higher income tax expenses. Revenue declined 5 per cent to S$ 120.61
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    • 1704 9 Transaction date: Feb 4 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Company Last Sale Vol ('000) High 153 127 AIMSAMP Cap Reit 129.5xd -3 265 131 129 1 8.5 822.8 LOW 175.5 101 ARA Asset Mgmt 104
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    • 237 9 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Company Last Sale Vol ('000) High Day Low Div C'vr GrYld Net P/E MCap 35 10 t 3Cnergy 10.1 29.5 16.7 t CNMC Goldmine 19.2 +0.3 564 19.3 19 5.9 2.8
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    • 119 9 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale 1043 700 CIMBASEAN40 US$ US784 +22 0 784 784 123 4258 2407 DBXT China50 US$ US2505 +36 20 2515 2474 6.9 399 190 DBXT MSBrazil US$ US212 +9
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  • Page 5 Advertisements
    • 351 5 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 gourmet In partnership with u HSBC <2> c+JWf/ (m Jjtmi—1 February 2016 31 March 2016 Eazy Gourmet celebrates a mix of dining
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  • Page 9 Advertisements
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  • BANKING & FINANCE
    • 671 10  -  Swiss bank reports its first full-year loss since 2008 By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore CREDIT Suisse’s Asia-Pacific division proved once again to be the outperformer of the bank as it reported full-year results on Thursday, though it was not spared from
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    • 408 10 BLOOMBERG London HSBC Holdings plc bet on the dark horse in the global race to create an agrochemicals giant and won. As the lead adviser to China National Chemical Corp on its US$43 billion acquisition of Swiss pesticide and
      BLOOMBERG  -  408 words
    • 672 10 NYT New York BENEATH the surface of the global financial system lurks a multitrilliondollar problem that could sap the strength of large economies for years to come. The problem is the giant, stagnant pool of loans that companies and people around
      NYT  -  672 words
  • Page 10 Advertisements
    • 197 10 Qudtc ITA LIANG In partnership with HSBC <1> Indulge in a luxurious buffet of Italian Amedei Chocolates at The Courtyard this Valentine’s Day! Celebrate this Valentine’s Day at The Fullerton Hotel’s soaring grand atrium with The Courtyard’s chocolate buffet. Delight your loved one with an elegant and cosy affair and
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    • 983 10 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices CHASWOOD RESOURCES HOLDINGS LTD. (Company Registration Number: *****1894D) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (“EGM”) of CHASWOOD RESOURCES HOLDINGS LTD. (the “Company”) will be held at 22
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  • ENERGY & COMMODITIES
  • Page 11 Advertisements
    • 1236 11 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF APRILE SINGAPORE PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) (REGISTRATION NO. *****3752R) NOTICE OF MEMBERS’ VOLUNTARY LIQUIDATION The following resolutions were unanimously resolved at the Extraordinary General Meeting
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    • 1538 11 Steel Solutions NICO STEEL HOLDINGS LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number: *****4166D) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an EXTRAORDINARY GENERAL MEETING (“EGM”) of Nico Steel Holdings Limited (the “Company") will be convened on 25 February 2016 at 10.00 a.m., at Room
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  • TECHNOLOGY
    • 1244 12 Large investors appear to have turned sceptical about its future, but Dropbox executives see no cause for worry NYT San Francisco THERE are no obvious signs of distress at the lavish San Francisco headquarters of the cloud storage company Dropbox, where
      NYT; PHOTO: BLOOMBERG  -  1,244 words
    • 294 12 REUTERS San Francisco CISCO Systems Inc said on Wednesday that it was buying Jasper Technologies Inc, a startup that connects devices like cars and medical devices to the Internet, for US$1.4 billion in cash and equity awards its largest acquisition since
      REUTERS  -  294 words
  • Page 12 Advertisements
    • 175 12 CATCH TREZO’S 7ki AND BE THE FIRST TO TRY OUT BUZZDROP AND TREZOPAY! Kingston® A TEEL m|gg® 1=1—1 I 111 Kingston microSD16GB Class 10 U1 Usual Price: S$9.80 NOW S$0.99 o. C Oz r trezo 5*>« Every weekday in Feb, we will be listing a Flash Deal at 10:30am. A
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  • CONSUMER
    • 759 13 Traditional retailers buying or partnering with online merchants and opening boutiques in their stores BLOOMBERG New York AMAZON’S plans to open as many as 400 brick-and-mortar bookstores, revealed on Tuesday by a mall executive, may seem an unlikely turn of events.
      BLOOMBERG; PHOTO: BLOOMBERG  -  759 words
    • 570 13 REUTERS London GLAXOSMITHKLINE (GSK) said on Wednesday the chance of it spinning off or selling its consumer health business before 2018 was “extraordinarily low”, arguing the group’s strategy was delivering, helped by rising sales of new medicines. Growing demand for
      REUTERS  -  570 words
  • Page 13 Advertisements
    • 1345 13 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices GRANDNESS SINO GRANDNESS FOOD INDUSTRY GROUP LIMITED (Company Registration Number: *****6801H) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING Unless otherwise defined, all capitalised terms herein shall bear the same meaning as used in the circular dated 5
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    • 544 13 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF MACGREGOR PLIMSOLL PTE. LTD. (In Members' Voluntary Liquidation) Reg No. ********** ("the Company") NOTICE OF RESOLUTIONS At an Extraordinary General Meeting oT the Company duly convened and held on 1 February 2016, the Resolutions set out
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    • 526 13 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF T21 HOLDINGS PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) (REGISTRATION NO. *****2046K) NOTICE OF MEMBERS’ VOLUNTARY LIQUIDATION The following resolutions were unanimously resolved at the Extraordinary General Meeting of Members of the above Company on 29 January
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  • REAL ESTATE
    • 369 14  -  It is the first dip in the monthly index in seven months; consultants see price stability this year By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore HDB resale prices fell 0.5 per cent in January 2016, compared to the month before that. This marks
      Source: SRX Property  -  369 words
    • 496 14 Frim says competition is mounting with new supply coming from Manhattan’s west side BLOOMBERG New York RENTS on newly signed apartment leases on Manhattan’s West Side may be flat this year as competition mounts from a surge of new supply coming
      BLOOMBERG  -  496 words
    • 338 14 BLOOMBERG Singapore KKR Co, the private equity firm founded by Henry Kravis and George Roberts, will invest in two Mumbai projects by a developer of luxury condominiums in a property market that’s grappling with the lowest home sales in at least five years.
      BLOOMBERG  -  338 words
    • 468 14 XINHUA Nanning AS unsold homes mount up, Chinese developers have lost their appetite for land and are focusing on getting rid of inventory. The sales centre of a new development in Nanning is offering discounts of 80,000 yuan (S$ 17,345) for
      XINHUA; PHOTO: BLOOMBERG  -  468 words
    • 392 14 CEO of country’s biggest mortgage bank says this may be beneficial for capital requirements BLOOMBERG Copenhagen FOR years, economists and even Nobel laureates have been warning that Sweden is heading for a housing bubble. But the man running
      BLOOMBERG  -  392 words
    • 263 14 BLOOMBERG Copenhagen DENMARK says it may have gone too far in adopting European financial rules as it looks for ways to preserve its US$400 billion mortgage bond market. “I imagine that we may amend any over-implementation of what came from Brussels,”
      BLOOMBERG  -  263 words
    • 562 15  -  Perennial also plans to begin works on TripleOne Somerset and Axa Tower in the second quarter of 2016 By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore THE House of Tan Yeok Nee along Penang Road a gazetted national monument will soon be
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    • 529 15 Mortgage rates remain stable so far despite HK dollar’s peg to US dollar and US Fed’s rate hike REUTERS Hong Kong HONG Kong property transactions fell 12 per cent in 2015, government data showed on Thursday, underscoring fears about
      REUTERS  -  529 words
  • Page 14 Advertisements
    • 257 14 JAPAN PROPERTIES FOR SALE IKEBUKURO CENTRAL TOKYO (FREEHOLD) completed in Oct 2015 IKEBUKURO 7 minutes to Ikebukuro station by walk 5 minutes to Shinjuku station by train from Ikebukuro station 14 minutes to Roppongi station by train from Ikebukuro station 16 minutes to Tokyo station by train from Ikebukuro station
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  • Page 15 Advertisements
    • 487 15 D10 HOUSE FOR SALE ILLOURA, CLUSTER SEMI D Old Holland Rd. FH. 4 yrs young 4305sf, 5 rms. 1 km to MGS. 3 sty basement 2 pte car lots lift on all floors. Outdoor dining+pond. Near King Albert Park MRT. Hurry!John *****599 D14 HOUSE FOR SALE RASHILLAH ABDUL HAMID 9363
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  • GOVERNMENT & ECONOMY
    • 779 17  -  BOJ governor grilled on move in Parliament, accused of engaging in a “currency war” By Anthony Rowley btworld@sph.com.sg Tokyo BANK of Japan (BOJ) governor Haruhiko Kuroda was forced onto the defensive on Thursday when he faced a grilling in
      PHOTO: AFP  -  779 words
    • 492 17 LATEST US DATA REUTERS Washington NEW orders for US factory goods fell in December by the most in a year as manufacturing continued to reel from the headwinds of a strong US dollar and weak overseas demand. The Commerce Department said
      REUTERS  -  492 words
    • 341 17  -  By Grace So graceso@sph.com.sg Singapore THE National Environment Agency (NEA) plans to develop an Unmanned Aircraft System (UAS) to improve its dengue control programme. The agency has been conducting trials on the use of UAS, commonly known as drones, to survey mosquito breeding
      PHOTO: KUA CHEE SIONG/THE STRAITS TIMES  -  341 words
    • 266 17 REUTERS London FACTORY growth across the eurozone slowed at the start of 2016 as incoming orders failed to show any meaningful increase, even though companies cut prices at the deepest rate for a year, a survey showed on Monday. Markit’s Purchasing Managers’ Index will
      REUTERS  -  266 words
  • Page 17 Advertisements
    • 1297 17 NOTICES GREEN BUILD TECHNOLOGY GREEN BUILD TECHNOLOGY LIMITED (Incorporated in the Republic of Singapore on 6 February 2004) (Company Registration Number *****1338W) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an extraordinary general meeting (“EGM”) of the Company will be held at RELC International Hotel, 30 Orange Grove
      1,297 words
    • 312 17 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF PHILLIP VENTURES ENTERPRISE FUND 2 LTD. (IN MEMBERS' VOLUNTARY LIQUIDATION) (Company Registration No. **********) NOTICE TO SUBMIT PARTICULARS OF DEBTS OR CLAIMS Notice is hereby given that the creditors of the abovenamed Company, whose debts or
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  • TRANSPORT
  • Page 18 Advertisements
    • 415 18 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices V in The Matter of The Companies Act Cap. 50 And in The Matter of GMI INVESTMENT HOLDINGS PTE. LTD. Company Registration Number: *****7253D (In Members’ Voluntary Liquidation) MEMBERS' VOLUNTARY WINDING UP At an Extraordinary General Meeting of the abovenamed Company
      415 words
    • 372 18 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF MACGREGOR (SGP) PTE LTD (In Members'Voluntary Liquidation) Reg No. *****0567R ("the Company") NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the Company duly convened and held on 1 February 2016, the Resolutions set out below
      372 words
    • 441 18 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF THE ASIA JAVA FUND PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) (Co. Reg. No. *****6281R) NOTICE OF RESOLUTIONS At the Extraordinary General Meeting of The Asia Java Fund Pte Ltd duly convened and held on 29 January
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    • 48 18 Have a BIG IDEA? Stand a chance to get over $30k of cash plus support for your business idea. You will be backed by Asia's leading media organisation, Silicon Valley's global accelerator and Singapore government's premier technology fund. Apply to our Programme today! http://sphplugandplay.com nJ-, I PLUt spia
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  • Page 19 Advertisements
    • 1994 19 THE BUSINESS TIMES Shipping times WALLENIUS WILHELMSEN LOGISTICS Tel: (65) 6379 5066 Fax: (65) 6379 5106 Email: 2wsinenq@2wglobal.com website: http://www.2wglobal.com AUSTRALIA NEW ZEALAND TO ASIA VESSEL VOY AKL BNE PKL MEL FRE SIN TAMERLANE FF606 18/01 22/01 24/01 26/01 30/01 06/02 SALOME FF607 30/01 03/02 05/02 07/02 11/02 18/02 TULANE
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    • 245 19 ENG LEE SHIPPING CO PTE LTD Tel: *****222 (10 Lines) Fax: *****174/*****960 Website: www.englee.com.sg/Email: marketing@englee.com.sg CR No: **********0C REGULAR FEEDER SERVICES TO INDONESIAN (DE1) VESSEL VOY SIN ETA SIN ETD DESTINATION FREQUENCY Marco Polo 122 BST057 07/02/2016 08/02/2016 Buatan/Buatan DAILY Marco Polo 118 PRW274 07/02/2016 08/02/2016 Perawang/Perawang DAILY Marco Polo
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  • OPINION
    • 570 20 EDITORIAL WHILE this year’s market correction has been blamed on oil price declines and China’s botched attempts to control its stock market as well as its currency, there is an alternative explanation. Traders are turning pessimistic because they no longer
      570 words
    • 1207 20  -  It is time to rethink the way independent non-executive directors are elected so that they can provide thoughtful and robust challenge to management in the boardroom. BY DAVID SMITH boardroom.BY DAVID SMITH T The writer is head of corporate governance at Aberdeen Asset Management Asia
      PHOTO: BLOOMBERG  -  1,207 words
    • 704 20  -  THE BOTTOM LINE By Robert J Samuelson THE WASHINGTON POST WRITERS GROUP WASHINGTON IN 1992, James Carville popularised the adage “It’s the economy, stupid”. If the economy is ailing, people tend to vote against the party in the White House. That happened in the 1992
      THE WASHINGTON POST WRITERS GROUP  -  704 words
    • 830 21  -  COMMENTARY By Anthony Rowley Tokyo WHATEVER became of the eurozone crisis, or that of Greece and other peripheral nations in the European Union? Have these formerly attention-grabbing problems gone away, or have we simply lost sight of them as the spotlight
      830 words
    • 1194 21  -  COMMENTARY By Steven Bartholomeusz T The writer is Head of Communications at Food industry Asia, an industry interest group with the region’s suppliers, manufacturers and food retailers among its members IN the article “Time to bring sugar into the ‘sin tax’ net” (BT,
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    • 899 21  -  There are reasons why equity volatility may be ignored in the real world, but economists cannot entirely ignore the moves in financial markets. BY PAUL DONOVAN markets.BY PAUL DONOVAN TThe writer is global economist at UBS. His latest book, “The Truth About
      PHOTO: BLOOMBERG  -  899 words


  • CITY LIFE
    • 914 22  -  Former footballer Hidetoshi Nakata launches his own sake, simply called “N”. BY AVANTI NIM “N”.BY AVANTI NIM avantin@sph.com.sg HIDETOSHI Nakata doesn’t do anything by halves. The retired footballer who played seven seasons for the Italian Serie A during his decade-long career, also spent seven years travelling
      PHOTO: N SAKE BY HIDETOSHI NAKATA  -  914 words
    • CITY BUZZ BT writers' picks of what to see, do or talk about
      • 190 22  -  ART By Helmi Yusof ONE of the best group shows at the moment is Antipodean Inquiry at Yavuz Gallery, a showcase of 13 artists from Australia and New Zealand that bears testimony to the variety, vision and vitality of contemporary art from the region. Among the highlights are
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      • 240 22  -  By Dylan Tan CNY JAZZ SPECIAL Jeremy Monteiro’s Gong Xi! Show WELCOME the year of the Monkey with King of Swing Jeremy Monteiro as he plays a special Chinese New Year show this weekend. Expect to hear jazzy renditions of festive tunes and evergreens off his album
        PHOTO: RUSSEL WONG  -  240 words
      • Article, Illustration
        154 22 MUSIC Singer-songwriter showcase, Originals Sing, which gives new music artists the opportunity to evolve from open mic to proper paid gig (the S$10 cover charge is shared between the featured acts) returns next week. Curated by veteran indie musician and rock critic Kevin Mathews from its sister event,
        PHOTOS: ORIGINALS SING  -  154 words
      • 151 22  -  DANCE By Helmi Yusof BOOKS and movies from Fritz Lang’s Metropolis to the recent Ex-Machina have wrestled with the concept of man’s relationship with robots and artificial intelligence. But seldom has dance taken on a similar inquiry. Huang Yi is a rising Taiwanese choreographer who created
        PHOTO: HUANG Yl  -  151 words

  • WINE/ARTS
    • 1235 23  -  Go for the creme de la creme of wines this Chinese New Year such as Egon Muller-Scharzhof, Wilhelm Haag, Joh Jos Prum, Helmut Donhoff and Schlossgut Diel. BY NK YONG WINE BY NK YONG TWO years ago my annual blood tests showed alarmingly that my
      PHOTO: REUTERS  -  1,235 words
    • 737 23  -  ARTS By Cheah Ui-Hoon uihoon@sph.com.sg IT doesn’t matter what camera you use. A picture is about the story it tells, not the colours and composition. These were some of the tips that former National Geographic photographer Steve McCurry doled out last week, when
      PHOTOS: STEVE MCCURRY  -  737 words
  • Page 23 Miscellaneous
    • 348 23 CRYPTIC CROSSWORD Across 1 Working in shed, hence best in private (6,3,6) 9 Summary in a poor state (3-4) 10 Playwright Oscar’s detained, giving needle (7) 11 Unemployed star on radio (4) 12 Man at top of order? (5) 13 Mist in west London area reported (4) 16 Bachelor, in
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  • ARTS
    • 702 24  -  A new play by Pangdemonium explores what it means to be human and in love. BY HELM I YUSOF BY HELMI YUSOF LAST year, a New York Times article titled To Fall In Love With Anyone, Do This went viral. It referenced a
      PHOTOS: PANGDEMONIUM  -  702 words
    • 705 24  -  By Helmi Yusof helmi@sph.com.sg @HelmiBT ANYONE looking for solid productions of classic plays might by now be familiar with Nine Years Theatre, a Mandarin theatre company that has staged to much acclaim Edward Albee’s Who’s Afraid Of Virginia Woolf, Yasmina Reza’s Art and Reginal Rose’s
      PHOTO: NINE YEARS THEATRE  -  705 words
    • 488 24  -  By Cheah Ui-Hoon uihoon@sph.com.sg WHAT is dance? And can a theatre director better examine that question? RE/PLAY Dance Edit, a TheatreWorks co-production with Offsite Dance Project (Japan) challenges ideas of whether it’s just harmonised movement to music, or more. In his dance, six
      PHOTO: LAW KIAN YAN  -  488 words

  • CINEMA/MUSIC
    • 717 25 Based on a real-life story of a frontiersman’s near-death experience, director Alejandro G Inarritu’s The Revenant is a bravura retelling. BY GEOFFEY EU NO one makes movies quite like Alejandro G Inarritu, a director with the ability, vision and strength of will to generate
      PHOTO: TWENTIETH CENTURY FOX  -  717 words
    • 621 25  -  By Dylan Tan dylantan@sph.com.sg @DylanTanSYBT JACK Neo might have made a better businessman than a filmmaker: over two dozen movies in, the writer-direc-tor is still shooting them like one long commercial with blatant product placements scattered throughout the plot. In his latest, Long Long Time Ago
      FILE PHOTO  -  621 words
    • 552 25  -  MUSIC By Avanti Nim avantin@sph.com.sg STEVE Reich may be best known for being one of the key pioneers of the minimalism movement, but the composer isn’t too thrilled with the label himself. He said: “It’s not my job to give it a name, but I’ve got
      552 words

  • Lifestyle
    • 1692 26  -  The local box office is set to heat up as Singapore films get off to a flying start in 2016 with three openings this month: Jack Neo looks to retain his title as the nation’s favourite filmmaker with the two-part nostalgic family drama
      PHOTOS: ZHAO WEI FILMS; PHOTOS: MM2 ENTERTAINMENT; PHOTOS: CLOVER FILMS  -  1,692 words
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