The Business Times, 5 May 2016

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Microfilm: NL33855
Total Pages: 28
1 28 The Business Times
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  • Title Section
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    22 1 THE BUSINESS TIMES S$1.20 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BusinessTimes CO REGN NO *****2868E MCI (P) 039/08/2015 GThursday, May 5, 2016
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  • Article, Illustration
    Lock icon DAILY DIGEST
    228 1 With world trade slowing, leading global firms are turning to foreign direct investment for growth opportunities and Singapore is one of the biggest targets, says AT Kearney. TOP STORIES 2 IE Singapore has enhanced the structured commodity financing scheme under its Global Trader Programme and is developing a
    228 words
  • Article
    Lock icon SingPost special audit findings may lead to regulatory action
    1623 1  -  Some say entire board should share responsibility; SGX stresses that boards must not abdicate responsibility to professionals By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore DISCLOSURE failures and alleged breaches of fiduciary duties by Singapore Post director Keith Tay could open the door
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  • Article, Illustration
    Lock icon Chopard siblings pay S$25m for Tong Building space
    640 1  -  By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore THE brother-and-sister pair that runs Swiss luxury watch and jewellery house Chopard has picked up an office floor at Tong Building in Orchard Road for S$25.5 million. The price works out toS$3,713 per square foot on
    FILE PHOTOS  -  640 words
  • Article
    Lock icon MARKETS
    25 1 Wednesday Change STI 2,773.07 -38.13 KL COMP 1,657.58 +6.14 NIKKEI 225 CLOSED HANG SENG 20,525.83 -151.11 SHENZHEN B 1,128.74 -4.92 DOW(11.45am EDT) 17,649.24 -101.67
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      210 1 *****1 *****1 THE BUSINESS TIMES IWC ENGINEERED FOR MEN. Big Pilot’s Watch. Ref. 5009: Leaning heavily on the first Pilot's Watches and at the same time an original: like its illustrious predecessors, the latest Big Pilot's Watch masterfully combines precision technology with functional design. The largest calibre developed and built
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      12 1 AMERICAN ELECTIONS The primaries are over: it’s the Donald vs Hillary OPINION/24
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      21 1 HOCK LOCK SIEW Raffles Medical: succession planning question companies markets 8 PROPERTY TRANSACTIONS More undecided about hiring agent REAL ESTATE 13
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  • TOP STORIES
    • Article, Illustration
      Lock icon FDI confidence in S’pore up again
      717 2  -  Republic jumps 5 places to 10th in A T Kearney annual survey amid keen interest from Asia-Pacific and IT firms By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore WITH world trade slowing, leading global firms are turning to foreign direct investment for growth opportunities and
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    • Article
      Lock icon Correction
      74 2 IN the BT column (“Keppel, SembMarine crucial to survival of Singapore’s O&M ecosystem”, May 4, 2016), we said that Sete Brasil projects account for about US$5 billion of Keppel Corp’s order book. The figure should be US$4 billion. A sentence in the article could also have given the wrong
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    • Article, Illustration
      Lock icon Voters must assess if plans are worth supporting: Murali
      752 4  -  PAP and SDP will hold rallies on Thursday as nine-day campaign draws to a close BUKIT BATOK BY-ELECTION By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore OVER the course of the by-election campaigning in Bukit Batok, the People’s Action Party’s (PAP) candidate Murali
      PHOTO: ONG WEE JIN/THE STRAITS TIMES  -  752 words
    • Article, Illustration
      Lock icon Witching Hour Studios hits Kickstarter target
      512 4  -  By Sherwin Loh sherwinl@sph.com.sg @SherwinLohBT Singapore LOCAL video-game start-up Witching Hour Studios has successfully funded its upcoming game, Masquerada: Songs And Shadows, on crowd-funding platform Kickstarter and there are still two days to go before the end of its campaign. The 14-man Singapore company,
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    • Article
      Lock icon Shopee offers partial shipping coverage and classes for sellers
      491 4  -  STARTUPS By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore GARENA, a Singapore-based Internet company and South-east Asia’s largest unicorn (privately valued at US$3.75 billion), on Wednesday made clear its ambition for its mobile-first e-commerce platform Shopee to be a leading player in the
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    • Article
      Lock icon More opportunities for PMETs to switch to ICT jobs
      280 4 THE STRAITS TIMES PROFESSIONALS looking to make the switch to infocomm technology (ICT) or to upgrade their skills in the sector can now sign up for eight new ICT conversion programmes. Manpower Minister Lim Swee Say announced the addition to the
      THE STRAITS TIMES  -  280 words
    • Article
      Lock icon IE S’pore enhances financing support for commodities trading
      468 6  -  It’s also developing training programme for mid-career professionals keen on new career in commodities trading By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore TO fulfil the needs of the trading community, trade promotion agency International Enterprise (IE) Singapore has enhanced the structured commodity financing
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    • Article, Illustration
      Lock icon AIIB chief says bank will be lean even as it scales up operations
      882 6  -  By Anthony Rowley btworld@sph.com.sg Frankfurt THE Beijing-based Asian Infrastructure Investment Bank (AIIB) is still having internal discussions on the optimum method of financing, but is certain that its operations will be kept lean. Its president Jin Liqun,
      PHOTO: AFP  -  882 words
    • Article, Illustration
      Lock icon Trump the ‘presumptive’ GOP nominee as Cruz crashes
      689 6 AFP Washington DONALD Trump seized the mantle of Republican standard-bearer for the 2016 presidential election late on Tuesday, sending his only serious challenger Ted Cruz crashing out of the White House race. After charging to victory in Indiana, the unorthodox, anti-establishment candidate
      AFP  -  689 words
    • Article
      Lock icon Singapore’s 1MDB probe appears centred on its Cayman investments
      846 6  -  By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore SINGAPORE authorities are probing “complex and layered transactions” with “cross-border elements” involving many shell companies in their investigations into 1Malaysia Development Berhad (1MDB), according to prosecutors here. This was revealed by Singapore’s chief prosecutor Tan
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    • Article
      Lock icon Turnbull to call for elections to be held on July 2
      508 6 BLOOMBERG REUTERS Melbourne AUSTRALIAN Prime Minister Malcolm Turnbull confirmed on Wednesday that he would call an election within the next week to be held on July 2, looking to cash in on a budget plan aimed at creating jobs
      BLOOMBERG; REUTERS  -  508 words
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      14 2 Letter to the Editor: SingPost special audit report should reveal full methodology, Page 25
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  • Page 4 Advertisements
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      16 4 Grow Your Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices
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  • COMPANIES & MARKETS
    • Article
      Lock icon Sembcorp Industries Q1 profit down 25%
      520 7  -  Bottom line hit by oil-and-gas exposure through marine arm and higher borrowing costs By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore SEMBCORP Industries’ profits fell in the first quarter, weighed down by its oil-and-gas exposure through its marine arm, and also as higher borrowing costs partly
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    • Article
      Lock icon First Ship Lease Trust Q1 profit dives on loss from disposal of vessels
      402 7  -  By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore FIRST Ship Lease Trust’s net profit fell 55.1 per cent to US$2.3 million in the first quarter of 2016 after incurring losses from selling vessels. The trust, which owns ships and
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    • Article, Illustration
      Lock icon Will Singapore shareholders get their say on pay?
      1042 8  -  It’s an inevitable development for local market but, when it comes, it has to be managed carefully: global advisory firm By Michelle Quah michquah@sph.com.sg @MichelleQuahBT Singapore SINGAPORE investors could soon have a greater say on how much the executives of listed companies
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    • CORPORATE DIGEST
      • Article
        Lock icon Nera Telecommunications
        38 8 NERA Telecommunications on Wednesday posted profit after tax for the first quarter ended March 31, 2016, of S$2.03 million, a 33.4 per cent decrease from S$3.05 million a year ago. Revenue fell 11% to S$37.5 million.
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      • Article
        Lock icon Zhongmin Baihui Retail
        57 8 ZHONGMIN Baihui Retail Group, which had a trade-with-caution warning issued against its stock in February, announced on Wednesday a 10 per cent drop in net profit for the quarter ended March 31, 2016. Net profit fell to 20.4 million yuan (S$4.3 million) for its fiscal first quarter,
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      • Article
        Lock icon Abterra Ltd
        74 8 MINERALS and resources company Abterra Ltd on Wednesday said it has entered an option agreement to sell two office units at Suntec Tower 1 for S$9.24 million. The group will incur a pre-tax loss on the proposed disposal of about S$3.76 million. The net book value of the
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    • Article
      Lock icon Average DPU of 5 industrial Reits for January-March quarter down 3.5%
      514 8  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore WITH the supply of industrial space here outstripping demand, the average distribution per unit (DPU) for five of the seven industrial real estate investment trusts (Reits) that have released their earnings for the
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    • Article
      Lock icon Raffles Medical: succession planning question
      905 8  -  HOCK LOCK SIEW BY CLAIRE HUANG huangjy@sph.com.sg @ClaireHuangBT FOR the strength of the pack is the wolf, and the strength of the wolf is the pack. These Rudyard Kipling’s words hold true even outside the jungle in the corporate world. One can argue that the
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    • Article
      Lock icon Rotary to set up centre of excellence for PCM sector
      282 8  -  By Grace So graceso@sph.com.sg Singapore MAINBOARD-listed oil and gas infrastructure services provider Rotary Engineering on Wednesday announced that it will establish a productivity centre of excellence for process, construction and maintenance (PCM). The new centre is part of the company’s
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    • Article
      Lock icon POSH turns in stronger Q1 performance
      410 9  -  It posts net profit of US$4.5m, up from US$21,000 a year ago, on a 2% revenue increase to US$58.7m By Michelle Quah michquah@sph.com.sg @MichelleQuahBT Singapore DESPITE challenging times, offshore marine services provider PACC Offshore Services Holdings (POSH) turned in a stronger performance for the
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    • Article
      Lock icon Lombard Odier’s Asian fund shines amid volatility
      540 9 BLOOMBERG Singapore SALES of convertible bonds (CBs) are drying up in South-east Asia after a two-year slide, as stuttering economic growth and debt defaults keep new issuers out of the market. That’s not a problem for Lombard Odier Investment Managers, whose US$50 billion
      BLOOMBERG  -  540 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 10 STI Catalist Straits Times Index May 4,2016 2,773.07 -38.13 (-1.36%) Current streak 8 days Day high 2,795.65 Day low 2,761.93 52-week high 3,482.70 (May 4, 2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist Index May 4,2016 444.90 -2.21 (-0.49%) Current streak 2 days Day high 450.59 Day low
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    • Article, Illustration
      Lock icon Market pounded by same old worries
      630 10  -  STI falls eight trading days in a row, with Wednesday’s drop led by Singtel, Wilmar and OCBC STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT EIGHT days and counting the Straits Times Index on Wednesday dropped for the eighth consecutive session, losing 38.13 points or 1.4
      Source: Bloomberg  -  630 words
    • Article
      Lock icon STI STOCKS
      311 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 239 -7 244/239 255 209 6.1 6282 CapitaCom Trust 140.5 -1 141.5/140 169.5 122.5 6.1 4153.7 CapitaLand 303 -5 306/301 379 267 12.1 3 ***** CapitaMall Trust 201 -4 204/201 224 184.5
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    • Article
      Lock icon MOST ACTIVE
      35 10 VOLUME Ezra 46,055,000 Noble 33,512,000 Genting Sing 28,323,600 Singtel 27,885,100 Golden Agri-Res 27,541,000 Market volume 1,137,153,000 VALUE DBS Grp 116,607,162 Singtel 105,152,218 OCBC Bank 97,294,422 Wilmar Intl 76,321,032 UOB 53,373,801 Market value 1,235,289,000
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    • Article
      Lock icon SGX ETFS Most Active
      110 10 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 281 -2 1012 282/279 352/254 280/281 DBXT MSBrazil US$ US302 -19 90 305/302 399/190 301/302 GLD US$ US***** -162 53 *****/***** *****/***** *****/***** 63.4 Nikko AM STI ETF 285 -3 52 288/284 357/259 284/285
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 10 May 4 VALUE CLOSE BT OB/OS -541.00 -271.00 BT CADI -*****.00 -152.00 BT 10-day MA -*****.00 -54.00 FTSE ST Mid Cap 680.98 -10.82 FTSE ST Small Cap 395.17 -3.62 FTSE ST All Share 680.33 -7.72 FTSE ST China Top 162.75 -2.62 FTSE ST China 193.15 -3.73 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 10 STI FTSE ST All-Share FTSE ST All-Share index May 4,2016 680.33 -7.72 (-1.12%) Current streak 8 days Day high 684.48 Day low 678.47 52-week high 836.59 (May 4, 2015) 52-week low 625.37 (Jan 21, 2016)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 10 STI MSCI EAFE MSCI EAFE index May 3,2016 1,668.64 -17.98 (-1.07%) Current streak 3 days Day high 1,695.29 Day low 1,666.09 52-week high 1,949.49 (May 15, 2015) 52-week low 1,492.43 (Feb 12, 2016)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 7 2 0 1 0 4 8 2 Manufacturing 23 57 26 6 7 17 29 64 43 Commerce 11 19 14 1 6 8 12 25 22 Tpt/Stor/Comms 7 20 5
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      119 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 26,049 248 26,297 84,578 52 84,630 Manufacturing 130,359 28,750 159,109 164,062 3,257 167,319 Commerce 60,718 17,252 77,970 81,761 307 82,068 Tpt/Stor/Comms 146,859 146,859 214,107 214,107 Finance 26,500 41 26,541 290,256 5 290,262 Construction 10,782 4,966
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    • Article
      Lock icon GAINERS
      74 10 BY CENTS CLOSE UP 52w high/low JSH USD 2918 37.9 1.0 3544/2524 DBXT Vietnam US$ 2323 32.5 1.0 2786/2017 DBXT S&PShort US$ 2085 25.7 0.9 2393/2036 Pharmesis Intl 48 8.0 20.0 57/21 Haw Par Corp 879 6.0 0.7 953/720 BY PERCENTAGE CLOSE UP 52w high/low Elektromotw*****5 0.2 100.0 0.1
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    • Article
      Lock icon LOSERS
      77 10 BY CENTS CLOSE DOWN 52w high/low Lyxor Indonesia US$ 7815 -488.4 -4.4 8804/6250 SPDR S&P500 US$ ***** -243.5 -0.9 *****/***** GLD US$ ***** -219.2 -1.3 *****/***** DBXT MSEurope US$ 5363 -198.9 -2.7 6300/4770 SPDR DJIA US$ ***** -154.2 -0.6 *****/***** BY PERCENTAGE CLOSE DOWN 52w high/low DBS MB eCW*****1
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    • Article
      Lock icon UNUSUAL ACTIVITY
      84 10 VOL CLOSE($) CHANGE KTL Global 179.0 0.062 +0.015 +31.92 Pharmesis Intl 2.0 0.480 +0.080 +20.00 Ossia Intl 33.2 0.180 +0.014 +8.43 Leader Env 151.1 0.032 -0.007 -17.95 ChinaKangdaFood 20.0 0.088 -0.082 -48.24 Top Global 71.5 0.280 +0.025 +9.80 Matex Intl 80.0 0.030 +0.001 +3.45 CEFC Intl 670.2 0.210
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    • BROKERS’ TAKE
      • Article
        Lock icon Lippo Malls indo Retail Trust | Hold
        211 10 Lippo Malls indo Retail Trust Hold Target price: S$0.35 May 4 close: S$0.335 OCBC Investment Research, May 4 Despite the uncertain global economic outlook, strong economic fundamentals within the country have helped to support the Lippo Mall Indo Retail Trust’s (LMIRT’s) operational performance this past quarter. LMIRT’s overall occupancy was
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      • Article
        Lock icon SMRT Corp | Buy
        162 10 SMRT Corp Buy Target price: S$2.25 May 4 close: S$1.52 RHB, May 4 Given the deteriorating operating conditions of the train network, the transition of SMRT’s rail business to the New Rail Financing Framework (NRFF) may occur anytime between the commencement of the Government Contracting Model (GCM) for its bus
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      • Article
        Lock icon ARA Asset Management | Buy
        216 10  - ARA Asset Management Buy Compiled by Disclaimer: All Melissa Tan Target price: S$1.57 May 4 close: S$1.19 DBS Group Research, May 4 The lack of newsflow and activity post the recent rights issue has resulted in a weak share price performance for ARA, which is unwarranted. We see 2016 as
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    • Article
      Lock icon CALENDAR
      8 10 DATA IMay 5 Singapore COE Bidding Results
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    • Article
      Lock icon Yen, euro slip from long-term highs against US$
      441 11 CURRENCIES REUTERS London THE yen and the euro both retreated from long-term highs against the US dollar on Wednesday as markets looked to a series of US jobs releases due by the end of the week for fresh direction. Measuring by the
      REUTERS  -  441 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 11 May 4 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.953 4.869 0.652 5.816 49.857 99.152 0.801 8.650 2.983 1.088 78.449 35.292 1.014 11.034 0.716 24.212 26.309 0.516 0.749 Canada 1.049 5.107
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 11
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        Lock icon DOW JONES
        2 11
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        Lock icon NIKKEI
        1 11
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      • Article, Illustration
        Lock icon HANG SENG
        2 11
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 11 May 4 S$ Bid Offer 1-month 1.3540 1.3545 2-months 1.3547 1.3553 3-months 1.3553 1.3558 6-months 1.3571 1.3577 Source: OCBC
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 11 May 4 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0135 1.0144 0.7492 0.7497 Canadian dollar 1.0633 1.0638 0.7862 0.7860 Euro 1.5548 1.5555 1.1493 1.1496 NZ dollar 0.9319 0.9327 0.6889 0.6893 Sterling pound 1.9635 1.9646 1.4514 1.4519
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES Most active
        203 11 May 4 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****5 3.5 -0.1 ***** 0.1 1600 2 Ezion Holdings W*****4 15.6 1.6 6852 1 50 26 3.33 47 OCBC Bk MB eCW*****3 4.4 -0.4 5344
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        377 11 In local curr In S$ In US$ dy yr dy yr dy yr May 3 Index Change Change Change Change Change Change World Preliminary 1243.5 -1.0 -2.7 -0.5 -5.1 -1.1 -0.4 EAFE Preliminary 933.2 -0.9 -7.9 -0.4 -7.4 -1.1 -2.8 Europe Preliminary 1328.0 -1.4 -6.0
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        390 11 May 4 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES May16 9625.00 9665.00 9590.00 9630.00 *****8 *****1 Jun16 9412.50 9420.00 9345.00 9370.00 ***** ***** NIKKEI 225 INDEX FUTURES Jun16 *****.00 *****.00 *****.00 *****.00 ***** *****1 Sep16 *****.00 0 1181 MSCI TAIWAN INDEX FUTURES May16
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 11 May 4 $S Offer Bid 0vernight 0.04 0.02 1-month 0.7500 0.6250 2-months 0.9375 0.8125 3-months 1.0000 0.8750 Overnight mode: 0.03 US$ 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 1.05 0.85 9 months 1.25 1.05 12
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      • Article
        Lock icon GOVERNMENT SECURITIES
        67 11 May 4 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0T 0.500 01-Apr-18 99.01 5-Year NX*****X 2.250 01-Jun-21 103.14 103.30 103.27 10-Year NX*****Z 2.375 01-Jun-25 103.05 103.30 103.15 15-Year NZ*****F 2.875 01-Sep-30 106.17 106.40 106.30 20-Year NZ*****V 3.375 01-Sep-33 113.09 113.40 113.30
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 11 May-3 Price Net change change Last Trade Agricultural May-3 CBOT Soybeans (US cents/bu) 1021.50 -14.00 -1.35% 13/05/2016 CBOT Soybean Oil (US cents/lb) 32.13 -0.06 -0.19% 13/05/2016 CBOT Wheat (US cents/bu) 459.75 -17.25 -3.62% 13/05/2016 May-3 LIFFE Cocoa (£/tonne) 2300.00 -13.00 -0.56% 13/05/2016 LIFFE Coffee (US$/tonne) 1554.00 -2.00 -0.13%
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    • Article
      Lock icon SGX MAINBOARD
      1808 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Company Last Sale vol ('000) High Day 153 127 AIMSAMP Cap Reit 138.5cd -1 531 139.5 138.5 0.9 8.2 880 Div 175.5 101 ARA Asset Mgmt 119 +1 651 119.5
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    • Article
      Lock icon SGX CATALIST
      329 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Last Vol Day Div GrYld 0.9 0.2 t Advanced Systems 0.2 unch 20 0.2 0.2 5.3 MCap High LOW 19.9 8.3 t Anchor Resources 11.4 +0.4 3206 11.4 11 31.9 Sale
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    • Article
      Lock icon SGX ETF
      165 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last 107.7 69.1 CIMB APAC Div US$ US76.8 -2.2 5 76.8 76.8 8.1 1345 991 CIMBASEAN40 S$D 1110 -21 0 1111 1110 vol 4190 2355 DBXT China50 US$ US2719 -25
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      Lock icon Page 7 Advertisements Column 1
      16 7 Grow Your Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices
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      Lock icon Page 7 Advertisements Column 2
      743 7 Complimentary upgrade to Singapore Airlines Suites or First Class1 50% KrisFlyer miles redemption2 ENJOY EVEN HIGHER LEVELS OF RECOGNITION ON SINGAPORE AIRLINES WITH THE ENHANCED AMERICAN EXPRESS®SINGAPORE AIRLINES SOLITAIRE PPS AND PPS CLUB CREDIT CARDS. Complimentary upgrade to Singapore Airlines Suites or First Class1 50% KrisFlyer miles redemption2 Double KrisFlyer
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  • Page 9 Advertisements
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      Lock icon Page 9 Advertisements Column 1
      717 9 Ho Chi Minh City S$1,028 Denpasar (Bali) S$1,208 BANGKOK S$1,108 Taipei S$2,548 OSAKA S$3,448 All-in-return fares*from: Male (Maldives) S$2,608 Colombo S$2,418 Shanghai S$3,288 Seoul S$2,918 SYDNEY S$4,228 Melbourne S$4,218 SANFRANCISCO S$6,548 Perth S$3,108 Amsterdam S$6,148 Zurich S$5,668 London S$6,738 Delhi S$2,798 Beijing S$3,488 Brisbane S$3,988 Munich S$6,298 Houston S$7,108 Nagoya
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      71 12 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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  • REAL ESTATE
    • Article, Illustration
      Lock icon More undecided about using a property agent
      814 13  -  Survey finds consumers between 21 and 39 years old are more uncertain about engaging a property agent for future transactions than those in other age bands By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore AS A harbinger of how technology is encroaching into the role
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      Lock icon SouFun seeks to switch listing from US to China
      321 13 BLOOMBERG Shanghai SOUFUN Holdings Ltd plans to switch its stock listing from the US to China, joining companies including Dalian Wanda Commercial Properties that are seeking higher valuations on mainland stock exchanges. SouFun, China’s biggest real estate web portal, is seeking
      BLOOMBERG  -  321 words
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      Lock icon Unsold unit costs add to squeeze on developers in sluggish market
      774 14  -  Lengthy approval process allowing unsold bumiputra lots to be released to other buyers also a costly affair MALAYSIA PROPERTY By Pauline Ng btworld@sph.com.sg Kuala Lumpur DEVELOPERS of strata titled properties in Malaysia are feeling the squeeze as sales remain
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      Lock icon Dalian Wanda Group’s unit may seek backdoor listing
      247 14 REUTERS Hong Kong CHINESE tycoon Wang Jianlin’s Dalian Wanda Commercial Properties may seek a “backdoor listing” on the Shanghai Stock Exchange if it does not get regulatory approval to launch a planned initial public offering (IPO) there soon, said two people with
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      Lock icon Blackstone said to be in talks to buy Sime Darby’s Australian assets
      340 14 Discussions involve industrial buildings valued at A$250 million BLOOMBERG Singapore BLACKSTONE Group LP is in talks to acquire industrial property assets in Australia valued at about A$250 million (S$253.6 million) from Malaysian palm-oil producer Sime Darby Bhd, according
      BLOOMBERG  -  340 words
    • Article, Illustration
      Lock icon Developers eye Bangkok’s historic Chinatown
      729 14 AFP Bangkok FOR nearly a century, Thanuan has watched history sweep through the bustling maze of alleyways that make up Bangkok’s Chinatown, one of the city’s few districts yet to be devoured by malls and high-rise condos. But change is coming and fast. A new
      AFP; value. PHOTO: AFP  -  729 words
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      Lock icon Riding the Dubai property roller coaster
      791 15 For over a decade, volatile prices have been creating and wiping out fortunes but seem to be fizzling out recently AFP Dubai FOR more than 10 years Dubai property prices have been on a roller coaster, creating and wiping out fortunes, but recently they
      AFP; PHOTO: AFP  -  791 words
    • Article
      Lock icon Househunt
      1389 15 Property transactions for districts 1 to 16 with contract dates between March 23 and March 29,2016 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED Marina One Residences Apt 24/03/2016 99 1119 2581 2306 The Clift Apt 23/03/2016 99
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      82 14 EXCLUSIVE AGENT FOR SALE: PRIME SHENTON WAY SHOP SPACE Ideal for Retail F&B Banks Showrooms Supermarkets Rarely available 6,631 sf shop space on single level Coveted Shenton Way address in District 1 Single tenant upside up to 5%+ rental yield No ABSD SSD, foreigners/companies eligible to buy Asking around indicative
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      219 14 FOR SALE BYTENDER Dalvey Estate Good Class Bungalow 2 Storey Conservation GCB with attic and swimming pool. Architectural Heritage Award Winner. Large scale extension upgrade just completed. Land area ***** sq.ft. Built-up ***** sq.ft. Tenure Freehold For viewing and tender document, please contact Sole Marketing Agent: JOHN GOH (CEA no
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      17 14 Choose from Prime Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Tenders Auctions Notices
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  • BANKING & FINANCE
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      38 16 askST you ask. we answer. k Have a ques Let ST's correspondents provide the answers Send your questions to askst@sph.com.sg www.straitstimes.com/askst THE STRAITS TIMES k o o r O ould O v L Lisabel Ting r Tech Reporter
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      703 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF T.I.S. TRADING PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****3461W NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the members of T.I.S. TRADING PTE LTD deemed to have been duly convened and held
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      4367 17 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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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon As sales slow, US, EU steel makers call for fair trade
      1335 18 Heavy discounting by China has fed a backlash, with politicians such as Donald Trump and Bernie Sanders railing against free trade NYT Cardiff, Wales WITH thunderous roars and flashes of blue light, an electric arc furnace at a steel
      NYT; PHOTO: NYT  -  1,335 words
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      Lock icon China to simplify rules for cross-border gold trade
      285 18 Beijing CHINA, the largest gold producer and consumer, is simplifying procedures for cross-border trade, a move that may speed up imports. The central bank and customs will allow companies that have “frequent imports and exports” of gold and gold products to apply
      PHOTO: REUTERS  -  285 words
    • Article
      Lock icon Bankruptcy wave in US oil industry nears size of telecom bust
      577 18 REUTERS Houston THE rout in crude prices is snowballing into one of the biggest avalanches in the history of corporate America, with 59 oil and gas companies now bankrupt after filings for creditor protection by Midstates Petroleum and Ultra
      REUTERS  -  577 words
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      36 18 MAY ISSUE OUT NOW! IN THIS ISSUE 4)-"13!-15 6)$/210+. -2520’*5 ISSUE .1(!3% $2*0 ’024 GET COLORFUL A HWM 15TH BIRTHDAY TREAT FOR YOU! Enjoy 12 digital issues of HWM at only $15! (U.P. $82.80) Visit promos.sphmagazines.com.sg/HWMBday
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      265 18 CK Ee Co-Founder Chief Operating Officer, Asia Charts Pte Ltd Afull-time active trader in the equities and derivatives markets, CK is a practitioner of technical analysis and has been actively trading since 1993 in Singapore, Malaysia and US markets. He focuses in trading growth stocks that have potential for big
      265 words
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  • TECHNOLOGY
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      1287 19 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices NORTHERN TRUST CORPORATION Parent company of The Northern Trust Company Headquarters: 50 South LaSalle Street, Chicago, Illinois CONSOLIDATED BALANCE SHEET As at December 31 (US$ in Millions Except Share Information) 2015 2014 ASSETS Cash and Due from Banks 6,444.6 3,050.6 Federal
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  • CONSUMER
    • Article, Illustration
      Lock icon Target gets tough with vendors to speed up supply chain
      744 20 It plans to tighten deadlines for warehouse deliveries and hike fines for late deliveries to better compete with rivals REUTERS Chicago DISCOUNT retailer Target Corp is cracking down on suppliers as part of a multi-billion dollar overhaul to speed up
      REUTERS; PHOTO: BLOOMBERG  -  744 words
    • Article
      Lock icon Pfizer approaches Medivation about potential takeover: sources
      350 20 REUTERS New York PFIZER Inc has approached US cancer drug maker Medivation Inc to express interest in an acquisition, raising the possibility of a bid rivalling a US$9.3 billion offer by Sanofi SA, people familiar with the matter said on Tuesday. Pfizer’s approach
      REUTERS  -  350 words
    • Article
      Lock icon Aeropostale files for bankruptcy
      375 20 Teen-clothing chain intends to reappear in 6 months as standalone enterprise with smaller store base BLOOMBERG New York AEROPOSTALE Inc, the teen-clothing chain, has filed for bankruptcy protection after battling its main supplier and closing hundreds of stores to stem years of losses. The latest in
      BLOOMBERG  -  375 words
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      296 20 2016 PROPERTY SEMINAR SH The hot-selling Property Seminar by SPH Digital is back again! E f SEMINAR FOR A f CHANCE TO WIN PRIZES WORTH UP TO $1,100!* ‘Lucky draw will be held at k the end of each seminar. on both days r W '~~T~ fM '4m PREMjUM X
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  • TRANSPORT
    • Article, Illustration
      Lock icon Recall of Takata air bags in US could grow by 35 million: source
      977 21 Expansion could bring total to 63 million possibly affecting nearly 1-in-4 of 250 million vehicles on US roads NYT New York REGULATORS were expected to announce as early as Wednesday that at least 35 million additional air
      NYT; PHOTO: REUTERS  -  977 words
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      Lock icon Google, Fiat Chrysler to collaborate on driverless car project
      903 21 Google to expand testing of vehicles by installing its technology in a fleet of minivans made by Fiat Chrysler Detroit THE development of self-driving cars in recent years has been primarily a competition between technology companies and carmakers working independently of
      PHOTO: AFP  -  903 words
    • Article
      Lock icon Wall Street values Tesla Motors at US$620,000 per car
      573 21 Analysts watching if firm can generate profit and positive cash flow in 2016 REUTERS San Francisco COMPANY founder and CEO Elon Musk may not mention Tesla Motors Inc’s stock price when his electric car company gives its latest financial update this
      REUTERS  -  573 words
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      542 21 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 PURSUANT TO SECTION 290(2)(b) AND IN THE MATTER OF ALAMIA PTE LTD (Company No: *****1511W) (In Members’ Voluntary Winding-up) By way of Shareholders’ Written Resolution dated 30th April 2016 the Special Resolutions set out below were duly passed: (1) Resolved that
      542 words
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  • GOVERNMENT & ECONOMY
    • Article
      Lock icon Indian parliament accepts Mallya’s resignation
      501 22 AFP BLOOMBERG New Delhi INDIA’S parliament on Wednesday accepted Vijay Mallya’s resignation of his seat, after the embattled liquor tycoon resubmitted his letter in line with the correct procedures. Mr Mallya had resigned from his seat in parliament’s upper house or the Rajya Sabha on
      AFP; BLOOMBERG  -  501 words
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      Lock icon Trade deficit shrinks as imports fall 3.6%
      827 22 Trade gap narrows 13.9% to US$40.4b smallest since February 2015 with broad slump in overseas purchases LATEST US DATA BLOOMBERG Washington AMERICA’S trade deficit shrank more than forecast in March as imports fell in percentage terms by the most in seven years and
      BLOOMBERG; PHOTO: BLOOMBERG  -  827 words
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      Lock icon Malaysia dissolves 1MDB advisory board headed by Najib
      477 22 REUTERS Kuala Lumpur MALAYSIA’S finance ministry said on Wednesday that it would dissolve the board of advisers at 1 Malaysia Development Berhad (1MDB) and take over its remaining assets, in an apparent move to scale down a state fund whose scandals have
      REUTERS  -  477 words
    • Article
      Lock icon Defaults loom as China stares at 3.7t yuan bond maturities
      674 22 Bond yields shoot up at fastest pace in over a year and issuance falls 43%, as sentiment worsens BLOOMBERG Hong Kong CHINESE debt investors are turning bearish at just the wrong time for the nation’s corporate borrowers, which face a
      BLOOMBERG  -  674 words
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      Lock icon Indonesia’s recovery hopes intact despite dismal Q1
      541 23 Economy grows by lower-than-expected 4.92% in Q1, but economists still expect over 5% growth in 2016 REUTERS Jakarta INDONESIA reported lower-than-ex-pected growth in the first quarter, but many economists still expect enough of a rebound this year for the country to avoid further
      REUTERS  -  541 words
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      Lock icon Euro zone business surveys suggest slow but steady growth in Q2
      611 23 REUTERS London ECONOMIC growth in the euro zone will be steady but slow in the second quarter, surveys suggested on Wednesday, underlying European Commission concerns about the vulnerability of the currency bloc’s upturn. Retail sales also fell across the
      REUTERS  -  611 words
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      Lock icon Once Asia’s most promising leaders, Modi and Jokowi eye a rebound
      913 23 BLOOMBERG Mumbai TWO years back, they were the most promising leaders in Asia, set to revamp a pair of perennial underperformers that account for a fifth of the world’s population. Now Indian Prime Minister Narendra Modi and Indonesian President
      BLOOMBERG; PHOTOS: AFP, REUTERS  -  913 words
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      Lock icon China weakens yuan fix by most since August devaluation
      354 23 PBOC cuts value of yuan by 0.59 per cent from Tuesday; analysts say move in line with strength in US dollar AFP Shanghai CHINA’s central bank on Wednesday fixed the yuan nearly 0.60 per cent weaker against the US dollar, according
      AFP  -  354 words
    • Article
      Lock icon Effects of BOJ’s monetary easing will show in time: Kuroda
      671 23  -  By Anthony Rowley btworld@sph.com.sg Frankfurt BANK of Japan (BOJ) governor Haruhiko Kuroda has defended the central bank’s monetary policy, arguing that it has had overall positive effects on the Japanese economy and saying that the benefits of the negative interest
      671 words
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  • OPINION
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      Lock icon Keeping a close watch on the new economy and its discontents
      541 24 EDITORIAL THE May Day spring holiday has come and gone, but workers of the world have little reason to celebrate. If anything, winter is getting harsher. In the current climate, everybody from the worker whose job is on the
      541 words
    • Article
      Lock icon Why Britain must leave a centralising EU
      695 24  -  THE BOTTOM LINE By Kate Hoey TThe writer is the Labour Member of the UK Parliament for vauxhall. This is part of the Official Monetary and Financial Institutions Forum’s series on the UK EU referendum ahead of the June 23 poll London FOR
      695 words
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      Lock icon The primaries are over: it’s the Donald vs Hillary
      1564 24  -  Trump on his way to amassing the 1,237 delegates he needs to win the Republican presidential nomination; Clinton the presumptive Democratic presidential nominee By Leon Hadar Washington THERE is that point in any election campaign when one doesn’t have to be
      PHOTO: AFP  -  1,564 words
    • Article
      Lock icon Getting past ‘new normal’ slow economic growth
      913 25  -  COMMENTARY By Kemal Dervis TThe writer, former minister of Economic Affairs of Turkey and former administrator for the United Nations Development Programme, is a vice-president of the Brookings institution PROJECT SYNDICATE Washington MOST economists nowadays are pessimistic about the world economy’s growth prospects.
      PROJECT SYNDICATE  -  913 words
    • Article
      Lock icon SingPost special audit report should reveal full methodology
      987 25  -  LETTER TO THE EDITOR Mak Yuen Teen I REFER to the executive summary of the special audit report released by Singapore Post (SingPost). The special auditors did a professional job but may have been hampered by certain limitations in their work. Perhaps
      987 words
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      Lock icon Recognising the economic value of intellectual property
      1284 25  -  Singapore has been unrelenting in its commitment to R&D and to building up IP capabilities. Still, there is much to be done. By STANLEY LAI done.By STANLEY LAI T The writer is head of intellectual property practice at Allen Gledhill LLP and chairman
      FILE PHOTO  -  1,284 words
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      1001 26 THE BUSINESS TIMES V’-a-'V Shipping times 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
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon NYC art auction season to kick off, break a taboo
      832 27 Cattelan’s statue of Hitler at Christie’s auction expected to fetch US$10-15 million AFP New York THE spring art auction season kicks off on Sunday in New York with paintings by Jean-Michel Basquiat and Cy Twombly and a taboo-smashing statue of
      AFP; PHOTOS: AFP; PHOTO: AFP  -  832 words
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      Lock icon Angela Lee’s ready for the fight of her life
      607 27  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore IT is arguably the most hyped and most talked-about mixed martial arts (MMA) fight in Asia, and history will be made this Friday night in Singapore as fans will witness the crowning of Asia’s first
      PHOTO: CHOO CHWEE HUA/THE NEW PAPER  -  607 words
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      Lock icon As Chanel glitz comes to Havana, Cubans watch from afar
      574 27 AFP Havana FRENCH fashion house Chanel staged its first Latin American catwalk show in newly trendy Havana on Tuesday, but ordinary Cubans were left watching the glitz from a distance. International celebrities and Cuban bigwigs graced the red carpet as
      AFP; PHOTO: AFP  -  574 words
  • Page 27 Miscellaneous
    • Miscellaneous
      Lock icon Page 27 Miscellaneous Column 1
      323 27 CRYPTIC CROSSWORD Across 7 Substitute corded cotton fabric with delicate one (7) 9 Curt, British queen taken in by trick (7) 10 Inside taverna, a fine place to eat (5) 11 Produce young ape 20 trained (9) 12 Something memorable said in passing? (6,4,5) 13 Love to tell extravagant lies
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