The Business Times, 30 May 2016

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1 28 The Business Times
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  • Title Section
    Lock icon Masthead
    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 Monday, May 30, 2016
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  • Article, Illustration
    Lock icon DAILY DIGEST
    213 1 Procter Gamble wants to put its brands into more homes in the Asia-Pacific region, which it sees as a growth engine. TOP STORIES 4 Mapletree Logistics Trust plans to buy four warehouse facilities in Sydney for A$85 million, making use of proceeds from a S$250 million perpetual securities
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  • Article, Illustration
    Lock icon Emerging market flows return as investors look for value
    1159 1  -  Fund managers move from “underweight” to “neutral” on the asset class, saying that selling has gone far enough By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore AS INVESTORS seek out cheap valuations, a number of emerging markets are enjoying significant net inflows, notably
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  • Article
    Lock icon MARKETS
    25 1 Weekly Change STI 2,802.51 +38.69 KL COMP 1,637.19 +8.40 NIKKEI 225 16,834.84 +98.49 HANG SENG 20,576.77 +724.57 SHENZHEN B 1,046.35 +22.33 DOW 17,873.22 +372.28
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  • Article, Illustration
    Lock icon When doing well means doing good
    977 1  -  COMPANY OF GOOD By Kelly Tay kellytay@sph.com.sg @kellyTayBT Singapore WE’VE all seen it before: the media spotlights a heartwrenching story, drawing attention to a worthy cause; a wave of support crests on stirred emotions before fading away as interest dies down. Corporates have the
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  • Page 1 Advertisements
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      Lock icon Page 1 Advertisements Column 1
      229 1 *****1 *****1 THE BUSINESS TIMES 5 TUDOR BLACK BAY BRONZE Housed in a case machined from an aluminium bronze alloy, TUDOR in-house movement MT5601 offers a 70-hour power reserve and is certified by the Swiss Official Chronometer Testing Institute (COSC). Exclusively available at: #TUDORWATCH TUDORWATCH.COM i Tudor Boutique Swiss Watch
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      14 1 DIGGING DEEP CNMC’s Kelantan gold mine shines as production picks up TOP STORIES 6
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      24 1 www.businesstimes.com.sg (P) RESTAURANT EMBER Alex Phan’s menu in progress DINING OUT 26 NEW FORESTS Fund manager aims to transform Asia forestry sector TOPLINE 9
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  • TOP STORIES
    • Article, Illustration
      Lock icon Stocks stage rebound, but is the market bull alive and kicking?
      876 2  -  Jobs data this week could confirm the US economy is pulling out of a soft patch, but it’s unlikely to provide a definite answer WALL STREET INSIGHT By Rob Curran btworld@sph.com.sg US stocks rebounded last week as markets came
      PHOTO: BLOOMBERG  -  876 words
    • Article
      Lock icon Series on corporate giving
      279 2  -  COMPANY OF GOOD By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore TO convert corporate non-givers into givers, and to encourage companies that already give to become multipliers and leaders of good, the government is launching its Company of Good this Thursday. It is led by the National Volunteer
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    • Article
      Lock icon P&G looks to gain market share in Asia-Pacific
      580 4  -  It leverages digital platforms and TV to raise awareness of its brands and woos new customers with samples By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore CONSUMER goods giant Procter Gamble (P&G), eyeing the fast-grow-ing markets across the Asia-Pacific, wants to put its brands
      580 words
    • Article, Illustration
      Lock icon 1997: A crack in the baht
      329 4  -  Hong Kong returns to China, NOL buys APL in eventful year BY MELISSA TAN, KENNETH LIM O N JULY 2, 1997, the Bank of Thailand shocked the markets by floating the baht, in essence giving up on defending the beleaguered currency and giving bearish
      BT Graphics: Dania Amiril  -  329 words
    • Article, Illustration
      Lock icon Low Thia Khiang survives challenge from Chen Show Mao for WP top post
      355 4  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore WORKERS’ Party (WP) chief Low Thia Khiang was re-elected secretary-gen-eral at the party’s internal elections on Sunday despite being challenged for the helm. The 59-year-old Mr Low faced off with fellow
      ST FILE PHOTO  -  355 words
    • Article
      Lock icon First phase of new global forex code of conduct formulated
      773 4  -  By Neil Behrmann btworld@sph.com.sg London BUSINESSES, investors, traders and travellers are hoping that a new global code of conduct will ensure a fair, transparent and liquid foreign exchange market. The first phase of foreign exchange principles has been formulated by
      773 words
    • Article
      Lock icon Empty chairs at empty tables explained
      769 4  -  By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore LES Misérables did not open on Sunday evening as earlier promised, and the exact reason for this is still unclear as muddled as tinctures in Thénardier’s inn. On Saturday, The Business Times published a commentary lamenting the first
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    • Article, Illustration
      Lock icon CNMC’s Kelantan gold mine shines as production picks up
      1096 6  -  The Catalist-listed company has almost trebled production from 12,649 ounces in 2013 to over 30,000 ounces last year DIGGING DEEP By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore “WELCOME to Jurassic Park,” the pilot quips, as the helicopter approaches the gold mining concession
      PHOTOS: ANDREA SOH  -  1,096 words
  • Page 2 Advertisements
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      Lock icon Page 2 Advertisements Column 1
      140 2 Mg*? Reaching out to 1.9 Billion People WELCOME TO THE 13 th CHINA-ASEAN EXPO September 23 rd 26 th 2016 Nanning, China Singaporean Exhibits: brand products, port logistics, foodstuff, finance, education and tourism, etc. Major Chinese exhibits: engineering machinery, vehicles, food processing and packaging machinery, electric power equipments, new sources
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  • COMPANIES & MARKETS
    • Article
      Lock icon Lots of trouble brewing at Technics Oil & Gas
      839 7  - Lots of trouble brewing at Technics Oil Gas Is Technics’ new majority owner Eversendai a white knight or injured horseman? HOCK LOCK SIEW BY ANITA GABRIEL anitag@sph.com.sg @AnitaGabrielBT NEVER halt trading on a stock on the final day of any year and expect the new year to be greeted by
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    • Article
      Lock icon Coal India posts higher Q4 profit but misses market estimates
      320 7 BLOOMBERG New Delhi COAL India Ltd, the world’s biggest producer of the fuel, missed analysts’ estimates for fourth-quarter profit as oversupply of the fuel and lower international prices trimmed earnings. Net income for the three months ended March 31 rose
      BLOOMBERG  -  320 words
    • Article, Illustration
      Lock icon Making decisions as a board: minimising circular resolutions
      895 7  -  No reason why a board can’t meet, even urgently, to discuss a vital issue BOARDROOM MATTERS By Ng Wai King T The writer is a member of the Governing Council of the Singapore institute of Directors. GIVEN the push to enhance corporate
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    • Article
      Lock icon Buying by company directors fall
      2323 8  -  But buyback activity rises for the third straight week as 16 companies post 73 repurchases worth S$40.7 million INSIDE MARKETS By Robert Halili T The writer is managing director, Asia insider Limited BUYING by directors fell for the first time in the past three weeks
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    • Article, Illustration
      Lock icon STI / Catalist
      64 10 STI Catalist WEEKLY Straits Times Index May 27,2016 2,802.51 +38.69 (+1.40%) Current streak 3 days Week high 2,802.51 Week low 2,750.23 52-week high 3,392.11 (May 29, 2015) 52-week low 2,539.95 (Feb 12, 2016) FTSE ST Catalist index May 27,2016 436.34 +4.44 (+1.03%) Current streak 6 days Week high 436.34 Week
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    • Article, Illustration
      Lock icon Key drivers are window-dressing, US rates, Brexit
      651 10  -  STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT IN chronological order, the first question traders will be asking in the week ahead is whether there will be a month-ending, win-dow-dressing push on blue chips on Tuesday. The second question which traders here will have to
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    • Article
      Lock icon STI STOCKS
      305 10 Stock name Close Change Wk high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 232 +1 235/229 253 209 6.6 6113.9 CapitaCom Trust 141 +3 143/137 164 122.5 6.1 4168.4 CapitaLand 298 -1 300/293 358 267 11.9 3 *****.3 CapitaMall Trust 205 unch 208/202 224 184.5
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    • Article
      Lock icon MOST ACTIVE
      35 10 VOLUME Magnus Energy 312,521,500 Cedar Strategic 253,788,800 Noble 244,372,500 Ezra 200,920,100 Spackman 160,150,100 Market volume 8,019,003,000 VALUE DBS Grp 346,306,463 Singtel 313,055,477 Global Logistic 199,492,211 OCBC Bank 161,615,373 UOB 157,644,130 Market value 4,069,201,000
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      36 10 STI FTSE ST All-Share WEEKLY FTSE ST All-Share Index May 27,2016 685.53 +9.25 (+1.37%) Current streak 3 days Week high 685.53 Week low 673.62 52-week high 816.60 (May 29, 2015) 52-week low 629.34 (Feb 12, 2016)
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    • Article, Illustration
      Lock icon Despite rally in China, steel and iron ore face worst month
      600 10 COMMODITIES REUTERS Manila CHINESE commodities rallied broadly on Friday in a rare respite from a weeks-long reversal that has hit steel-linked materials particularly hard, with steel and iron ore futures still headed for their biggest monthly falls on record.
      REUTERS; PHOTO: AFP  -  600 words
    • Article
      Lock icon GAINERS
      76 10 BY CENTS CLOSE UP 52w high/low SPDR S&P500 US$ ***** 738.3 2.6 *****/***** DBXT E50 US$ 4545 255.7 4.3 5249/3968 JMH USD 5550 251.6 3.4 6272/4500 DBXT MSEurope US$ 5447 243.4 3.4 6142/4770 DBXT MSKorea US$ 5116 148.5 2.2 5821/4478 BY PERCENTAGE CLOSE UP 52w high/low P99 7.6 94.9
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    • Article
      Lock icon LOSERS
      76 10 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -468.8 -2.8 *****/***** DBXT S&P Short US$ 2051 -63.3 -2.2 2393/2036 Hyflux 6% CPS ***** -45.0 -0.4 *****/***** DBXT ASX200 US$ 3248 -44.0 -1.0 3757/2900 Lyxor MS India US$ 1425 -41.3 -2.1 1840/1331 BY PERCENTAGE CLOSE DOWN 52w high/low NobleGrpMBeCW*****1
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    • Article
      Lock icon UNUSUAL ACTIVITY
      83 10 VOL CLOSE($) CHANGE Leader Env 1,634.3 0.041 +0.015 +57.69 SP Corp 78.4 0.405 -0.120 -22.86 Hoe Leong 135.5 0.033 -0.015 -31.25 Suntar Eco-City 1.0 0.220 -0.040 -15.39 Food Empire 1,743.2 0.335 +0.030 +9.84 Amplefield Ltd 95.0 0.035 +0.010 +40.00 MegaChem 20.0 0.370 +0.010 +2.78 Camsing Hc 23.0 0.825
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    • Article
      Lock icon SGX ETFs
      109 10 Most Active Fund Last sale +/-(‘000) Wk high/low 52w high/low Buy/Sell Mcap STI ETF 285 +4 2066 286/279 347/254 285/286 Nikko AM STI ETF 289 +3 550 290/284 352/259 290/291 7 ABF SG Bond ETF 116.8 +0.2 479 117.7/116.5 119/112 116.5/116.8 533.2 DBXT MSRussia US$ US194 +3 381
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    • Article
      Lock icon COMPANY MEETINGS
      137 10 COMPANY MEETING PLACE DATE TIME Duty Free Intl Ltd E Novotel Singapore Clarke Quay Phoenix 1 (Lvl 6) 177A River Valley Rd 30-May 2.30pm Weiye Hldgs A Ocean 6 Meeting Room (2nd Floor) Pan Pacific Singapore Hotel 7 Raffles Boulevard Marina Square 30-May 10.00am Ziwo Holdings Ltd A
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      76 10 May 27 VALUE CLOSE BT OB/OS -4.00 +158.00 BT CADI -*****.00 +55.00 BT 10-day MA -*****.00 FTSE ST Mid Cap 674.65 +3.46 FTSE ST Small Cap 390.11 +1.02 FTSE ST All Share 685.53 +6.79 FTSE ST China Top 163.22 +2.36 FTSE ST China 191.42 +2.41 FTSE ST
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      34 10 STI MSCI EAFE WEEKLY MSCI EAFE index May 27,2016 1,668.76 +34.47 (+2.11%) Current streak 1 day Week high 1,669.84 Week low 1,628.84 52-week high 1,898.98 (May 29, 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 9 4 3 0 1 0 9 5 3 Manufacturing 64 59 27 16 10 13 80 69 40 Commerce 24 31 9 5 10 5 29 41 14 Tpt/Stor/Comms 16 17 5
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      122 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 58,667 1,046 59,713 195,426 184 195,610 Manufacturing 470,730 531,793 1,002,523 393,459 14,936 408,395 Commerce 385,833 146,182 532,015 318,151 3,948 322,099 Tpt/Stor/Comms 567,862 1,729 569,591 678,132 140 678,272 Finance 123,224 1,571 124,795 736,879 257 737,136 Construction
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    • Article
      Lock icon US dollar index up on Yellen’s rate hike remarks
      408 11 CURRENCIES REUTERS New York THE US dollar index hit two-month highs on Friday after Federal Reserve chair Janet Yellen left the door open to an interest rate increase in the coming months. In remarks in Boston, Ms Yellen said that a
      REUTERS  -  408 words
    • FOREX RATES
      • Article, Illustration
        Lock icon HANG SENG
        2 11
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      • Article
        Lock icon INTERBANK CROSS RATES
        473 11 WEEKLY COMPOSITEWEEKLY May 27 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.941 4.739 0.646 5.609 48.427 98.070 0.793 8.521 2.950 1.074 75.701 33.681 0.993 11.210 0.715 23.491 25.757 0.492 0.722 Canada
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 11 May 27 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 0.9930 0.9934 0.7222 0.7224 Canadian dollar 1.0552 1.0558 0.7678 0.7675 Euro 1.5363 1.5371 1.1174 1.1177 NZ dollar 0.9246 0.9255 0.6725 0.6730 Sterling pound 2.0179 2.0188 1.4677 1.4680
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 11 May 27 S$ Bid Offer 1-month 1.3756 1.3761 2-months 1.3763 1.3768 3-months 1.3770 1.3776 6-months 1.3789 1.3795 Source: OCBC
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      • Article, Illustration
        Lock icon NIKKEI
        2 11 WEEKLY
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 11
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      • Article, Illustration
        Lock icon DOW JONES
        3 11 WEEKLY
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        396 11 May 27 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES May16 9375.00 9415.00 9322.50 9410.00 *****7 *****7 Jun16 9107.50 9162.50 9050.00 9147.50 *****1 *****9 NIKKEI 225 INDEX FUTURES Jun16 *****.00 *****.00 *****.00 *****.00 ***** *****3 Sep16 *****.00 *****.00 *****.00 *****.00 218 3307 MSCI TAIWAN
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        209 11 Most active May 27 Prem Expiry Wk Vol Conv Exer Disc Gear- Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****1 10.8 2.1 ***** 0.1 1480 2 UOB MB eCW*****5 3.5 -0.2 ***** 0.1 1890 2 OCBC Bk MB eCW*****3 3.7 0.4 *****
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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 27 Index Change Change Change Change Change Change World Preliminary 1270.6 0.3 -0.6 0.2 -2.3 0.2 0.7 EAFE Preliminary 958.2 0.3 -5.5 0.0 -5.7 -0.1 -2.8 Europe Preliminary 1366.4 0.2 -3.3
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 11 May 27 $S Offer Bid 0vernight 0.03 Par 1-month 0.7500 0.6250 2-months 0.9375 0.8125 3-months 1.0000 0.8750 Overnight mode: 0.20 US$ Offer Bid 7 days 0.48 0.38 1 month 0.50 0.40 2 months 0.65 0.45 3 months 0.75 0.55 6 months 1.10 0.90 9 months 1.30 1.10 12
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      • Article
        Lock icon GOVERNMENT SECURITIES
        67 11 May 27 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0T 0.500 01-Apr-18 98.98 5-Year NX*****X 2.250 01-Jun-21 102.57 103.12 102.63 10-Year NX*****F 2.375 01-Jun-26 99.6 99.78 99.75 15-Year NZ*****F 2.875 01-Sep-30 105.34 106.70 106.00 20-Year NZ*****V 3.375 01-Sep-33 112.62 114.10 112.70
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        249 11 May-27 Price Net change change Last Trade Agricultural May-27 CBOT Soybeans (US cents/bu) 1086.50 6.75 0.63% 14/07/2016 CBOT Soybean Oil (US cents/lb) 31.48 0.44 1.42% 14/07/2016 CBOT Wheat (US cents/bu) 481.50 0.25 0.05% 14/07/2016 May-27 LIFFE Cocoa (£/tonne) 2210.00 43.00 1.98% 14/07/2016 LIFFE Coffee (US$/tonne) 1630.00 11.00 0.68%
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    • Article
      Lock icon Mapletree Logistics Trust to pick up 4 Sydney warehouses for A$85m
      612 12  -  It expects the acquisition “to be accretive at the distribution level” and the properties are 100% leased out By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore FRESH from raising S$250 million through issuing perpetual securities earlier this month, Mapletree Logistics Trust
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    • Article
      Lock icon PRIME LENDING RATES
      241 12 BANKS Agricultural Bank Of China 5.50 Agricultural Bank Of China Bangkok Bank Public Co. Ltd 6.00 ANZ Singapore Bank of Communications 5.50 Bangkok Bank Public Co. Ltd ...6.00 Bank of China Limited Bank of Tokyo-Mitsubishi Bank of Communications Banque Internationale a Bank of East Asia ...5.75 Bank
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    • Article
      Lock icon DIVIDENDS ANNOUNCED
      1495 12 Payment Ex Rec Pay Ann (cts) date date date date 8Telecom Intl Hldgs by 448.600 22-Mar 24-Mar 15-Jul 17-Mar AEM Hldgs aw 0.500 05-Jul 08-Jul 22-Jul 03-May Aims Amp Cap Ind Reit df 2.662 06-May 10-May 22-Jun 27-Apr Aims Amp Cap Ind Reit aj 0.108 06-May 10-May 22-Jun
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    • Article
      Lock icon Alabbar-led group’s US$1.8b Americana deal collapses
      331 12 BLOOMBERG Dubai A DUBAI-based investor group led by Emaar Properties PJSC chairman Mohamed Alabbar failed in its attempt to buy a 69 per cent stake in Middle Eastern fast-food operator Kuwait Food Co, the latest twist in an on-off sale process stretching back at
      BLOOMBERG  -  331 words
    • Article, Illustration
      Lock icon China’s Zoomlion abandons pursuit of cranemaker Terex
      407 12 NYT London ZOOMLION of China is dropping its pursuit of US crane and heavy equipment maker Terex Corp. Terex and Konecranes of Finland announced in August that they would merge in an all-stock deal, but Zoomlion swooped in with a competing bid in
      NYT; PHOTO: REUTERS  -  407 words
    • Article
      Lock icon BROKERS’ RECOMMENDATIONS
      1210 12 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (times) Accordia Golf Trt 1.00 1.00 1 0.06 10.23 0.89 0.65 AIMS AMP Cap Industrial Reit 1.00 1.00 4 0.11 12.58 1.50 1.37 ARA Asset Mgt 1.25 1.25 2 0.08
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    • Article
      Lock icon SGX MAINBOARD
      1961 13 52-Wk Last Vol Week Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E $mil Company Last Sale vol ('000) High week 151.5 127 AIMSAMP Cap Reit 137 -1 695 138 135.5 0.9 8.3 871.9 Div 171.2 101 ARA Asset Mgmt 135 +1.5 3012 136
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    • Article
      Lock icon SGX CATALIST
      345 13 52-Wk Last Vol Week Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Last Vol week 5 1.7 t Acesian Partners 5 +2 368 5 2.5 6.8 17.4 C'vr GrYld Net 16.2 4.5 t Alliance Mineral 6.3 unch ***** 6.8 6.2 24.8 High 19.9
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    • Article
      Lock icon SGX ETF
      180 13 52-Wk Last Vol Week Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last 103.3 69.1 CIMB APAC Div US$ US75 +0.1 25 75 75 7.9 1330 991 CIMBASEAN40 S$D 1095 -21 3 1095 1095 981 700 CIMBASEAN40 US$ US812 -10 0 812
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      Lock icon Page 7 Advertisements Column 1
      308 7 Account Staff A Stone Forest Company RECRUITMENT Services Specialists in Finance Accounting Executive Placements Contract Outsourcing Employment Pass Services RSM www.AccountStaff.com.sg lnfo(a)AccountStaff.com.sg T +65 6594 7946 DB Platinum Crod Branchen Stars R1C-A 23/05/2016 222,53 EUR Choose from various club memberships or sell yours in CLASS 66 To advertise, call the
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      Lock icon Page 7 Advertisements Column 2
      7 7 T For more articles, go to btd.sg/BMatters
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  • Page 8 Advertisements
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      Lock icon Page 8 Advertisements Column 1
      25 8 One man’s junk is another man’s treasure Shop second-hand or sell your possessions in CLASS 162 To advertise, call the Print Classified Hotline: 1800-289 9988
      25 words
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      Lock icon Page 8 Advertisements Column 2
      136 8 The preferred gifts fair in town! VlSGPFair Singapore Gifts Premiums Fair 2016 29 JUNE 1 JULY Level 1, Hall B C Sands Expo Convention Centre Marina Bay Sands, Singapore The Premier Platform for Gifts Sourcing Pick-up useful tips with on-floor seminars conducted by industry experts! 1 Are you doing digital
      136 words
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      Lock icon Page 8 Advertisements Column 3
      14 8 www.omy.sg wJH MB irn In £\II1T f HlHV SCAN BREAD NOW more (ffllifestyle.omy.sg m
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  • TOPLINE
    • Article, Illustration
      Lock icon Fund manager aims to transform Asia forestry sector
      1371 9  -  Australia’s New Forests, with over A$2.8 billion in AUM, wants to tap rising demand for sustainable forestry. BY ANDREA SOH sandrea@sph.com.sg @AndreaSohBT Singapore IT SEEMS counter-intuitive to pay for and maintain a piece of land, and use only a fraction of it
      PHOTO: AIDAN LOO  -  1,371 words
    • Article
      Lock icon Pricing ecosystem services
      439 9  -  By Andrea Soh Singapore RESOURCES such as clean water and fertile soil and good environmental practice have value. Support is increasing in some quarters for instruments that will put a price to such things, collectively called ecosystem services, which may then be traded in the same way
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  • Page 13 Advertisements
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      Lock icon Page 13 Advertisements Column 1
      71 13 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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  • BT-CITIBANK YOUNG INVESTORS’ FORUM
    • Article, Illustration
      Lock icon Rates: To raise or not to raise
      930 14 The financial world is now preparing for a possible 0.25 percentage point hike in US interest rates in June IN THE minutes of the April Federal Open Market Committee (FOMC) meeting released on May 18, there were explicit mentions of the Fed considering
      PHOTO: AFP  -  930 words
    • Article, Illustration
      Lock icon Rising rates
      49 14  -  The powerful US Federal Reserve is poised to raise interest rates from the current 0.25 to 0.5 per cent range to 0.5 to 0.75 per cent in mid-June. Here is a quick explainer.– BY CAI HAOXIANG BT Infographics BY CAI HAOXIANG Source: Bloomberg BT Graphics:Elenita Sarah Loyola
      Source: Bloomberg BT Graphics:Elenita Sarah Loyola  -  49 words
    • Article
      Lock icon Insurance no easy sell – there’s an image problem
      1101 14  - Insurance no easy sell there’s an image problem By Ben Steverman BLOOMBERG DO YOU have a minute to talk about your death? It isn’t easy to sell life insurance. Investing in a mutual fund, you feel like you’re saving money. Purchasing insurance, you feel like you’re spending it. “It’s not
      BLOOMBERG  -  1,101 words
  • Page 14 Advertisements
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      Lock icon Page 14 Advertisements Column 1
      113 14 GET STARTED NOW Be a young investor DO you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to
      113 words
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  • VIEWS FROM THE TOP
    • Article, Illustration
      Lock icon Opportunities in Russia
      1248 15 THIS WEEK’S TOPIC: How do you view prospects of doing business in Russia? Ronald Lee Managing Director PrimeStaff WHILE Russia, along with the rest of the BRIC nations (Brazil, India and China), is no longer booming like it once was, there are good opportunities in Russia for
      PHOTO: REUTERS  -  1,248 words
  • Page 15 Advertisements
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      Lock icon Page 15 Advertisements Column 1
      20 15 3 s Truly a great book book M.R.NARAYAN SWAMY, IANS India Now on sale at all major bookstores and www.stpressbooks.com.sg
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      30 15 JUN ISSUE OUT NOW! V. 718 BOXSTER EVEN BETTER PORSCHE ROADSTER Q n CETYOUR COPY NOW FROM THE NEWS- STAND OR VISIT WWW.TORQUEOOM.SG/ SUBSCRIPTION TO SUBSCRIBE TO TORQUE WWW.TORQUE.COM.SG spHmagazmes
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      24 15 The full list of views from CEOs is available at http://businesstimes.com.sg zaobao.sg Mapping the Traffic Police Enforcement Cameras -fcj Sf^H bit.ly/zbspeedcamera Chinese Language Content
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  • REAL ESTATE
    • Article, Illustration
      Lock icon How renovations can affect the value of a home
      1114 16 Sellers who want to recoup more of their investment would do better by aiming for boring, says realtor NYT New York THE summer months are a particularly popular time for updating houses, with new bathrooms, new kitchens or even a new
      NYT; PHOTO: FREEIMAGES  -  1,114 words
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      Lock icon What you should know before renting a storage unit
      762 16 WP Washington STORAGE units can be a great solution for people who are moving and need a spot to perch their stuff during the transition. Likewise, if their home is damaged in a storm or they’re doing a major renovation, a
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      1318 16 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices CONSOLIDATED STATEMENT OF FINANCIAL POSITION At 31 December 2015 (Expressed in millions of Renminbi unless otherwise stated) 2015 2014 Assets Cash 14,381 14,793 Precious metals 16,099 15,222 Balances with central bank 569,961 639,992 Balances with banks and other financial institutions 63,779
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      37 17 NOTICES TOLL FREE 18 0 0-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices Get rid of the new neighbours Hire pest control specialists or publicise your services in CLASS 116 To advertise, call the Print Classified Hotline: 1800-289 9988
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  • BANKING & FINANCE
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      Lock icon Publicly traded insurers losing ground to mutual companies
      1183 18 Persistent shareholder calls to boost returns have handicapped growth of US insurance giants BLOOMBERG New York ARE shareholders bad for business? More and more, the answer in the US life insurance industry is turning out to be a resounding “yes”. Since 2008,
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      Lock icon Africa far from debt crisis, says regional bank
      488 18 African Development Bank points out that while the headwinds are strong, the economies are resilient WP Washington AFRICA is a long way from facing a debt crisis even as commercial lending to the continent soars and Mozambique became the first regional country
      WP  -  488 words
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      Lock icon Bayer close to picking financing banks for Monsanto bid: sources
      661 18 BLOOMBERG London BAYER AG is close to choosing banks to arrange funds for its proposed acquisition of Monsanto Co, according to people familiar with the matter, after the US company rejected the initial US$62 billion bid as too low and
      BLOOMBERG  -  661 words
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      25 18 Win up to $50 NTUC vouchers when you sign up/renew the ShareInvestor membership plans at REITs Symposium 2016. Terms Conditions apply. View More Details http://notice.shareinvestor.com/rs2016
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      33 18 «>e ,sl» cP'> y\0 \\> e H\ e q0' s S* <VP «nS QOl” n«* 6* c& <oS oO Track your home’s financial performance Your confidential tracking page my Property Tracker www.srx.com .sg/*****1 SRX.com.sg/property-tracker
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      12 18 TopLawyer warnsof M&Arisks andpitfalls To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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      221 19 IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF TCAF HOLDING PTE. LTD. (IN MEMBER’S VOLUNTARY LIQUIDATION) REG NO. *****9234E NOTICE OF FINAL MEETING NOTICE is hereby given pursuant to Section 308 of the Companies Act, Cap. 50 that the Final Meeting of the members
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      2067 19 NOTICES TOLL FREE 18 0 0-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices Consolidated financial statements year ended 31 December 2015 Board of Directors Balance sheet at 31 December 2015 Chairman Jean LEMIERRE In millions of euros 31 December 2015 31 December 2014(1) ASSETS Cash and amounts due from central banks 134,547
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  • ENERGY & COMMODITIES
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      Lock icon Europe taste for volcanic pepper lifts Cameroon
      981 20 Production surges to 300 tonnes a year from barely 18 tonnes five years ago WP Washington THE volcanic soil of the Penja valley in the West African nation of Cameroon produces the world’s most coveted white pepper, prized by Miche-lin-starred chefs and sold
      WP  -  981 words
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      Lock icon French govt keeps up tough line as petrol shortages ease
      549 20 AFP Paris THE French government is maintaining a hard line ahead of a fresh wave of protest over a bitterly disputed labour law that has seen demonstrators blockading oil refineries and strikes paralysing the transport network. The escalating unrest, which
      AFP; PHOTO: AFP  -  549 words
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      Lock icon US oil drillers cut rigs despite price recovery: Baker Hughes
      355 20 REUTERS New York US oil drillers cut rigs for a ninth week in the last 10, energy services company Baker Hughes Inc said on Friday, even as crude prices last week tested a seven-month high at US$50 a barrel. Prices
      REUTERS  -  355 words
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      1565 20 TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices NOTICES EFG BANK AG Head Office: Bleicherweg 8, P .O. Box 2255, 8022 Zurich, Switzerland. www.efgbank.com Singapore Branch: 25 North Bridge Road, #07-00 EFG Bank Building, Singapore *****4. Tel: +(65) 6595-4888 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2015 INCOME STATEMENT
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  • TECHNOLOGY
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      Lock icon Regulation key in unlocking value in industry 4.0
      973 21  -  Policy-makers need to ask themselves what they can do to foster innovation while protecting consumers YOU SAY BY ALAN MARCUS T The author is Head of ICT Agenda, Member of Management Committee, World Economic Forum, and Speaker, Asia ICT Innovation Forum 2016.
      973 words
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      2078 21 i# BARCLAYS Head Office: 1 Churchill Place, London El 4 5HP. Registered in England. Registered No: *****. Singapore Office: 10 Marina Bay Boulevard #23-01, Marina Bay Financial Centre Tower 2 Singapore *****3. Tel: 6308 3000 The following is an extract from the 2015 financial statements and Annual Reports of Barclays
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  • CONSUMER
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      Lock icon Spain’s wine industry is hiccuping from its excesses
      916 22 Producers wonder if sheer volume is the best way as overproduction sinks both prices and the country’s reputation NYT Tomelloso, Spain FOR many, winemaking conjures up images of rolling vineyards, oak barrels and cavernous cellars. But here at Virgen de las Viñas,
      NYT; PHOTO: NYT  -  916 words
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      Lock icon Adidas courts controversy with camouflage at French Open
      654 22 NYT New York THERE have not been any real shocks in the French Open thus far at least when it comes to the tennis, with most of the top seeds breezing through the first few rounds. When it comes to the clothes,
      NYT; PHOTOS: REUTERS, AFP  -  654 words
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      Lock icon Vitamins join the ‘clean label’ bandwagon
      683 22 NYT New York WHEN she was about four months pregnant, Katerina Schneider read the ingredient list on the bottle of vitamins her doctor had recommended. On it were things like aluminium and titanium dioxide, the same ingredients in the laundry detergents and cleaning products
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      187 22 NOTICES IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF PRINT N ETCH PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) (COMPANY REGISTRATION NO. *****3276R) NOTICE OF FINAL MEETING Notice is hereby given that pursuant to Section 308 of the Companies Act, Chapter 50, the Final Meeting
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      83 22 THE BVI BUSINESS COMPANIES ACT, 2004 NOTICE OF LIQUIDATOR’S APPOINTMENT NOTICE is hereby given pursuant to Section 204, subsection (1)(b) of the BVI Business Companies Act, 2004 that the following companies are in voluntary liquidation: 1) SB Capital Partners Limited 2) CONSANTIA GROUP LIMITED 3) DRONTEN HOLDINGS LIMITED The voluntary
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  • GOVERNMENT & ECONOMY
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      Lock icon Abe moves quickly to capitalise on success at G-7 summit
      666 23  -  He is expected to delay consumption tax hike, unveil further fiscal stimulus and structural reform By Anthony Rowley btworld@sph.com.sg Tokyo CAPITALISING on his success at last week’s Group of Seven (G-7) summit in getting leaders to commit to fiscal stimulus,
      PHOTO: REUTERS  -  666 words
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      Lock icon Japanese consumers divided between thrift and extravagance
      1090 23 WP Tokyo "FIVE black beans, please,” a customer says at the deli counter in the Odakyu department store in Shinjuku, Tokyo, where the number of customers ordering minute amounts of prepared foods such as simmered beans or pumpkin is increasing. “That will be
      WP; PHOTO: REUTERS  -  1,090 words
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      Lock icon France rules out Google tax deal, more firms could be targeted
      609 23 REUTERS Paris FRANCE will “go all the way” to ensure that multinationals operating on its soil pay their taxes and more cases could follow after Google and McDonald’s were targeted by tax raids, Finance Minister Michel Sapin said. Mr
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      Lock icon Negative rates failing to spur investment at Europe’s firms
      315 23 BLOOMBERG Stockholm A PROLONGED period of negative interest rates is failing to revive investment at Europe’s companies, with the vast majority of businesses in the region saying the stimulus measures have had no affect at all on their growth plans. Some
      BLOOMBERG  -  315 words
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      Lock icon Brexit campaign shifts focus to immigration in attack on Cameron
      402 23 BLOOMBERG London TWO of Brexit’s leading campaigners attacked UK Prime Minister David Cameron for failing to keep his pledge to cut immigration, pushing the issue to the centre of the debate on whether Britain should leave the European Union. Former
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  • TRANSPORT
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      Lock icon Autohome founder’s electric car foray draws Musk comparison
      1117 24 Li Xiang aims to start selling a commuter car that can be recharged as easily as a mobile phone by end-2017 BLOOMBERG Beijing LI XIANG was earning 10 times more than his parents from part-time jobs when he left school in 1999
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,117 words
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      Lock icon TSA’s long lines were avoidable, travellers and experts say
      1046 24 NYT New York THE Transportation Security Administration’s (TSA) uniformed screeners have become convenient scapegoats for the long lines, missed flights and general chaos that have frustrated airline travellers all month. “To say customers are agitated is putting it mildly, and the
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    • Article
      Lock icon Carmakers recall over 12 million US vehicles over Takata air bags
      510 24 REUTERS Washington EIGHT carmakers say they are recalling more than 12 million US vehicles for defective Takata air bag inflators, widening the largest-ever car safety effort to more passenger-side devices. Honda Motor Co is recalling 4.5 million US vehicles
      REUTERS  -  510 words
    • Article
      Lock icon Global airport trade group opposes new checkpoints
      301 24 REUTERS Montreal THE United Nations’ aviation agency should avoid creating new checkpoints outside airport terminals as it draws up proposed global guidelines to improve security in the wake of recent attacks on travellers, the head of Airports Council International says. Angela Gittens, director-general
      REUTERS  -  301 words
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      2029 25 C a i l a n E n n o r e J e d d a h B r i s b a n e Shanghai ~Chittagong Ho Chi Minh H o J e b e l A l i n g NYK RORO (ASIA) PTE. LTD. K o
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      244 25 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 138 BST089 31/05/2016 01/06/2016 Buatan/Buatan DAILY Marco Polo 262 PRW066 31/05/2016 01/06/2016 Pelindo/Perawang DAILY Marco Polo
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  • DINING OUT
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      Lock icon Finding the right balance
      974 26  -  Chef Alex Phan has the big task of keeping old customers happy while drawing in new ones. BY JAIME EE jaime@sph.com.sg @JaimeEeBT NEW CHEF Restaurant Ember Hotel 1929 50 Keong Saik Road Tel: 6347-1928 Open for lunch and dinner Mon to Fri: 11.30am to 2pm; 6pm
      PHOTOS: RESTAURANT EMBER, JAIME EE  -  974 words
  • Page 26 Advertisements
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      128 26 TIME TO VIE FOR A SPOT TO REPRESENT SINGAPORE AT THE WORLD AMATEUR GOLFERS CHAMPIONSHIP IN DURBAN, SOUTH AFRICA SIGN UP NOW www.tnp.sg/WAGC Ron Totton Division A Champion, 2015 SINGAPORE QUALIFIERS presented by GOODIE BAG WORTH OVER $750 Get a Ice Chrono Electrik Watch worth $300, Golfing Vouchers from The
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  • LIFE & CULTURE
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      Lock icon Messi due to go on trial in Spain for tax fraud
      566 27 AFP Barcelona ARGENTINA star Lionel Messi, one of the world’s high-est-paid athletes, goes on trial in Barcelona on Tuesday for allegedly defrauding Spain of over four million euros in unpaid taxes. After winning a league and Cup double with
      AFP; PHOTO: AFP  -  566 words
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      Lock icon One of the world’s greatest art collections hides behind this fence
      1525 27 HNWIs like keeping their artworks in free ports with controlled climates, discreet record keeping and great potential for tax savings NYT New York THE drab free port zone near the Geneva city centre a compound of blocky grey-and-vanilla warehouses
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      Lock icon Hamilton ends his wait with Monaco GP victory
      503 27 AFP Monaco WORLD champion Lewis Hamilton ended his six-monthwait for a win on Sunday when he secured an unexpected and skilful victory for Mercedes in an incident-filled Monaco Grand Prix. Taking full advantage of a bungled pit stop for his nearest rival,
      AFP; PHOTO: AFP  -  503 words
  • Page 27 Miscellaneous
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      340 27 CRYPTIC CROSSWORD Across 1 Joke about superior one, member of religious order (6) 5 Rotter longing to be helping on golf course (8) 9 Such may offer various bread bits left to be eaten (4,6) 10 Continue running after the others have stopped? (4) 11 More troublesome row interrupted by
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