The Business Times, 24 June 2016

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Total Pages: 28
1 28 The Business Times
  • 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 Friday, June 24, 2016
    22 words
  • Article, Illustration
    200 1 Consumer prices in Singapore fall for the 19th straight month, recording the biggest decline in May since August 1986. TOP STORIES 2 Microsoft’s US$26.2 billion buyout of business social network LinkedIn is only the latest validation of how data can boost business growth, and is the motivation behind
    200 words
  • 26 1 Thursday Change STI 2,793.85 +7.72 KL COMP 1,639.98 +2.29 NIKKEI 225 16,238.35 +172.63 HANG SENG 20,868.34 +73.22 SHENZHEN B 1,075.05 -0.43 DOW(11.45AM EDT) 17,955.94 +175.11
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  • 1040 1  -  Observers say many firms’ reluctance to go the IPO way stems from lofty valuations, which are beyond what public markets will pay By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore THE sun’s out. The global tech IPO (initial public offering) winter
    PHOTO: REUTERS  -  1,040 words
  • 653 1  -  Even dealers put the squeeze on clients, fearing higher volatility when vote results are out By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore MARKET players around the world battened down the hatches on Thursday ahead of Britain’s referendum on European Union membership, raising margin requirements in
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  • Page 1 Advertisements
    • 72 1 TI1E BUSINESS TIMES 2015 VINTAGE Jury’s still out on future of Bordeaux WINE 25 HOCK LOCK SIEW Good show of commitment from owners of Croesus trustee-manager companies markets 6 SABANA REIT S&P’s downgrade of Sabana Reit withdrawn on trust’s request REAL ESTATE 16 HAS GILLMAN BARRACKS TURNED THE CORNER? With
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    • 15 1 Data is the new, critical asset fuelling tech M&As, Page 3 More reports, Page 2
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  • TOP STORIES
    • 713 2  -  Inflation in May falls to 1.6%, the biggest drop since August 1986, due to timing of S&CC rebates; core inflation inches up to 1%, a 14-month high By Nur Sabrina Azmi nsazmi@sph.com.sg Singapore SINGAPORE’S consumer prices fell for the 19th straight month in
      Source: Department of Statistics  -  713 words
    • 717 2  -  BREXIT JITTERS By Neil Behrmann btworld @sph.com.sg London WITH the financial markets predicting that Britain will vote to remain in the European Union (EU), the sterling rose to its highest point this year and the UK and European stock markets powered ahead. The
      PHOTO: AFP  -  717 words
    • 444 2  -  By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore SINGAPORE expects the direct impact of the United Kingdom leaving the European Union (EU) on its trade-reliant economy to be “modest” in the medium- to long-term. This assessment, made by the Ministry of
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    • 1146 2 NYT London ASK for his opinion, and David Howe eagerly tells you how he hopes Britain will leave the European Union (EU). “We need to take control of our borders,” he says. But these sentiments are, at the moment, as valuable
      NYT  -  1,146 words
    • 615 3  -  Data analytics is no longer just an experimental tool for companies, says digital marketing firm chief By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore MUCH has been said about Big Data and how it can help businesses. Microsoft’s US$26.2 billion buyout of business
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    • 598 3  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur A DECISION by Malaysia’s anti-graft chief Abu Kassim Mohammad to step down more than two years before his contract expires amid the ongoing global investigations into scandal-ridden 1MDB has heightened public scepticism that the
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    • 407 4  -  COMMENTARY By Andy Critchlow REUTERS London SAUDI Arabia wants its status as the world’s swing oil producer back. Since 2014, the kingdom has stayed on the sidelines as the oil price plunged. On June 22, new Energy Minister Khalid
      REUTERS  -  407 words
    • 507 4 US authorities moving beyond Switzerland in fight against offshore tax evasion BLOOMBERG Newark, New Jersey UBS GROUP AG has ended a legal fight with the Internal Revenue Service, agreeing to hand over records on an American client’s account in Singapore as
      BLOOMBERG; PHOTO: BLOOMBERG  -  507 words

  • Page 3 Advertisements
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  • COMPANIES & MARKETS
    • 814 6  -  A way of putting to rest concerns that ‘internalisation’ of the trustee-manager is a “sell and run” case HOCK LOCK SIEW BY LEE MEIXIAN leemx@sph.com.sg @LeeMeixianBT WHAT the two major owners of the trustee-manager of Croesus Retail Trust (CRT) did on
      814 words
    • 388 6  -  By leemx@sph.com.sg Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THE individual majority owners of the trustee-manager of Croesus Retail Trust (CRT) have pledged to plough back at least S$16 million half the money that they will receive from selling the trustee-manager to buying
      388 words
    • 2278 6  -  Has the firm gone into overdrive with a series of transactions? COMMENTARY transactions?BY CHEW YI HONG, MAK YUEN TEEN T The writers are, respectively, a shareholder of Natural Cool Holdings and who has been involved in various corporate governance research projects in Singapore and
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    • 503 7  -  Fitch Ratings says this is due to higher visitor arrivals and income from new assets By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore FOLLOWING a tough year for the local tourism industry in 2015, the earnings of Singapore’s hospitality Reits are expected to stabilise
      Source: STB, Fitch  -  503 words
    • 439 7  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore SHARES of Cityneon Holdings reached a new high of S$0.905 in early trading on Thursday following news that its Avengers STATION immersive attraction has opened at the Treasure Island Hotel and Casino
      439 words
    • Article, Illustration
      63 8 STI Catalist Straits Times Index June 23,2016 2,793.85 +7.72 (+0.28%) Current streak 1 day Day high 2,810.44 Day low 2,793.85 52-week high 3,373.48 (July 20, 2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist Index June 23,2016 439.07 +2.23 (+0.51%) Current streak 1 day Day high 441.64 Day low
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    • 618 8  -  Lacklustre session sees only S$691 million of stocks change hands as ST Index gains 7.7 points STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THE local stock market on Thursday underwent one of its most featureless and lacklustre sessions this year, which was not surprising
      Source: Bloomberg  -  618 words
    • 305 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 232 -1 234/231 253 209 6.6 6118.6 CapitaCom Trust 139.5 -2.5 143/139 157.5 122.5 6.2 4124.1 CapitaLand 298 unch 301/297 358 267 11.9 3 *****.3 CapitaMall Trust 202 -1 204/202 224 184.5
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    • 35 8 VOLUME Alliance Mineral 72,919,600 HTL Intl 40,005,000 Annica 38,000,000 Ezra 37,517,700 Noble 29,114,600 Market volume 975,897,000 VALUE DBS Grp 63,687,827 Singtel 53,803,457 HTL Intl 36,911,596 OCBC Bank 32,195,284 SingPost 28,773,573 Market value 698,536,000
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    • 108 8 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 285 742 286/285 343/254 284/285 IS MS INDIA US$ US698 +18 431 698/686 780/575 698/700 87.3 DBXT MSPHILS US$ US213.9 -1.8 180 215.1/213.8 215.7/158.5 214/214.8 17.1 DBXT MS SING US$ US113 +2.6 146 113.2/113
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    • 77 8 Jun 23 VALUE CLOSE BT OB/OS -459.00 +71.00 BT CADI -*****.00 +18.00 BT 10-day MA -*****.00 -45.00 FTSE ST Mid Cap 660.53 -1.64 FTSE ST Small Cap 384.58 +0.95 FTSE ST All Share 680.34 +0.91 FTSE ST China Top 158.49 +0.33 FTSE ST China 186.62 +0.29 FTSE
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    • 35 8 STI FTSE ST All-Share ftse ST All-Share index June 23,2016 680.34 +0.91 (+0.13%) Current streak 1 day Day high 683.88 Day low 680.34 52-week high 806.37 (July 20, 2015) 52-week low 625.37 (Jan 21, 2016)
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    • 33 8 STI MSCI EAFE MSCI EAFE index June 22,2016 1,661.48 +2.44 (+0.15%) Current streak 4 days Day high 1,669.46 Day low 1,652.88 52-week high 1,919.64 (June 23, 2015) 52-week low 1,492.43 (Feb 12, 2016)
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    • 186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 4 2 0 1 0 8 5 2 Manufacturing 39 29 27 9 7 10 48 36 37 Commerce 20 16 10 4 3 5 24 19 15 Tpt/Stor/Comms 11 14 11
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    • 124 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 11,397 706 12,103 36,885 140 37,025 Manufacturing 107,776 68,885 176,661 99,701 1,117 100,818 Commerce 59,212 13,994 73,206 47,702 307 48,009 Tpt/Stor/Comms 121,318 14,952 136,270 149,401 1,393 150,794 Finance 15,754 86 15,840 132,869 10 132,879 Construction
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    • 74 8 BY CENTS CLOSE DOWN 52w high/low Great Eastern 2030 -41.0 -2.0 2496/1870 JMH USD 5597 -34.7 -0.5 6103/4500 DBXT Vietnam US$ 2385 -28.1 -0.9 2786/2017 Delfi 220 -15.0 -6.4 350/130 DBXT MSINDO us$ 1283 -13.4 -0.8 1352/911 BY PERCENTAGE CLOSE DOWN 52w high/low STI 2900MBeCW*****0 0.4 -55.6 -0.5 7.3/0.4
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    • 73 8 BY CENTS CLOSE UP 52w high/low DBXT MSEurope US$ 5500 213.8 3.0 6089/4770 DBXT MSAsExJp US$ 3232 109.6 2.6 3787/2772 Jardine C&C 3354 42.0 1.3 4520/2636 Lyxor Europe US$ 1327 33.4 1.9 1557/1150 GLD US$ ***** 29.4 0.2 *****/***** BY PERCENTAGE CLOSE UP 52w high/low CPH 0.8 100.0 0.4
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    • 83 8 VOL CLOSE($) CHANGE Infinio 3,000.3 0.003 +0.001 +50.00 HTL Intl 40,005.0 0.940 +0.135 +16.77 Alliance Mineral 72,919.6 0.082 +0.012 +17.14 Star Pharm 16.0 0.177 -0.073 -29.20 SMJ Intl 10.0 0.100 +0.010 +11.11 GKE 14,951.8 0.096 +0.006 +6.67 Union Steel 23.6 0.550 +0.050 +10.00 China Haida 61.0 0.014 -0.003
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    • BROKERS’ TAKE
      • 186 8 Target price: S$3.30 June 23 close: S$2.58 DBS Group Research, June 23 M1 is in our model portfolio under our conservative and dividend categories. It remains in our model portfolio despite trading at its base target price of S$2.60 given recent developments that raises the odds for a
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      • 75 8 Target price: S$0.92 June 23 close: S$0.765 UOB Kay Hian, June 23 Starhill Global recently secured a 5.5 per cent base rental uplift over a three-year period with effect from June 8 for its Toshin masterlease at Ngee Ann City. This comes as Orchard Road rents
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      • 214 8  -  Compiled by Claire Huang Target price: S$1.57 June 23 close: S$1.50 OCBC Investment Research, June 23 The share price of Raffles Medical Group had recently turned south to some extent. This comes as a recent news article reported on the status of the group’s Holland Village
        214 words
    • 9 8 DATA I June 24 Singapore Industrial Production Index
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    • 413 9 hits 2016 high as odds stack against Brexit CURRENCIES REUTERS London STERLING hit a 2016 high and the euro surged against the US dollar and yen on Thursday after a series of late opinion polls favoured Britain staying in the European Union and bookmakers’ odds indicated a further shift towards
      REUTERS  -  413 words
    • FOREX RATES
      • Article, Illustration
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      • 471 9 Jun 23 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.964 4.960 0.666 5.846 50.781 99.941 0.787 8.676 3.028 1.048 78.954 35.077 1.007 10.977 0.722 24.152 26.530 0.511 0.754 Canada 1.037 5.144
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      • 2 9
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      • Article, Illustration
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      • 155 9 Jun 23 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0070 1.0074 0.7536 0.7538 Canadian dollar 1.0442 1.0448 0.7818 0.7814 Euro 1.5126 1.5133 1.1319 1.1324 NZ dollar 0.9612 0.9618 0.7193 0.7197 Sterling pound 1.9705 1.9715 1.4746 1.4752
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      • 21 9 Jun23 S$ Bid Offer 1-month 1.3364 1.3367 2-months 1.3367 1.3369 3-months 1.3370 1.3372 6-months 1.3383 1.3387 Source: OCBC
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      • Article, Illustration
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    • EQUITY BONDS WARRANTS FUTURES
      • 211 9 Jun 23 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****1 10.5 -0.5 ***** 0.1 1620 4 FTSEChinaA50 9500 MBeCW*****0 8.8 -0.5 3060 0.0 2 Ntegrator Intl Ltd W*****3 0.3 -0.1 2500 1 1 4.33
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      • 377 9 In local curr In S$ In US$ dy yr dy yr dy yr Jun 22 Index Change Change Change Change Change Change World Preliminary 1257.3 0.2 -1.6 0.1 -5.0 0.2 0.6 EAFE Preliminary 932.2 0.1 -8.0 0.0 -8.5 0.1 -3.2 Europe Preliminary 1335.9 0.4 -5.4
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      • 387 9 Jun 23 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Jun16 9255.00 9300.00 9182.50 9187.50 *****4 *****5 Jul16 9155.00 9187.50 9065.00 9110.00 *****8 ***** NIKKEI 225 INDEX FUTURES Sep16 *****.00 *****.00 *****.00 *****.00 ***** *****7 Dec16 *****.00 *****.00 *****.00 *****.00 40 5360 MSCI TAIWAN
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    • BANK RATES
      • 154 9 Jun 23 $S Offer Bid 0vernight 0.10 0.05 1-month 0.7500 0.6250 2-months 0.9375 0.8125 3-months 1.0000 0.8750 Overnight mode: 0.08 US$ Offer Bid 7 days 0.50 0.40 1 month 0.52 0.42 2 months 0.65 0.45 3 months 0.80 0.60 6 months 1.10 0.90 9 months 1.30 1.10 12
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      • 63 9 Jun 23 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0T 0.500 01-Apr-18 99.10 5-Year NX*****X 2.250 01-Jun-21 103.21 103.45 103.20 10-Year NX*****F 2.125 01-Jun-26 100.75 101.10 100.75 15-Year NZ*****F 2.875 01-Sep-30 106.46 20-Year NZ*****V 3.375 01-Sep-33 113.45 113.60 113.60 30-Year NA*****H
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    • AGRI METALS ENERGY
      • 250 9 Jun-22 Price Net change change Last Trade Agricultural Jun-22 CBOT Soybeans (US cents/bu) 1137.50 4.25 0.38% 14/07/2016 CBOT Soybean Oil (US cents/lb) 31.55 0.19 0.61% 14/07/2016 CBOT Wheat (US cents/bu) 458.75 0.25 0.05% 14/07/2016 Jun-22 LIFFE Cocoa (£/tonne) 2281.00 11.00 0.48% 14/07/2016 LIFFE Coffee (US$/tonne) 1675.00 -8.00 -0.48%
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    • 1763 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Company Last Sale Vol ('000) High Day 151.5 127 AIMSAMP Cap Reit 133 -0.5 777 134 132.5 0.9 8.5 846.5 Div 170.7 101 ARA Asset Mgmt 134.5 +2 221 135
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    • 265 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Last vol Day Div GrYld Net MCap High LOW Company Sale ('000) High LOW C'vr P/E 25.5 8.8 t 3Cnergy 10 35.5 16.7 t CNMC Goldmine 34 unch 2649 35 34
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    • 154 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter 137.6 97 CIMB APAC Div S$D 104.9 +0.3 30 104.9 104.5 101.9 69.1 CIMB APAC Div US$ US78.3 -0.4 0 78.3 78.3 8.2 vol 3942 2355 DBXT China50 US$ US2820
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  • Page 6 Advertisements
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  • Page 7 Advertisements
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  • BANKING & FINANCE
    • 848 12 Swift says it has seen other such attempts to steal money from the worldwide money transfer system NYT Dhaka THE former governor of Bangladesh’s central bank, from which US$81 million was stolen in February, said that flaws in the global money
      NYT; PHOTO: BLOOMBERG  -  848 words
    • 664 12 BLOOMBERG New York THE No 1 US fund with exposure to Chinese stocks is making a big bet on the country’s transition to a new economy, boosting holdings of consumer and technology companies. The Invesco Greater China Equity Fund, which has
      BLOOMBERG  -  664 words
  • Page 12 Advertisements
    • 1175 12 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. If Noteholders are in doubt about any aspect of the action they should take, they should seek their own advice immediately from their stockbroker, bank manager, solicitor, accountant, tax adviser
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  • ENERGY & COMMODITIES
  • Page 13 Advertisements
    • 97 13 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices FAITH FELLOWSHIP LIMITED Business Company Number: *****57 IN VOLUNTARY LIQUIDATION Notice is hereby given that in accordance with the British Virgin Islands Business Companies Act, 2004 (as amended), the voluntary liquidation of Faith Fellowship Limited commenced on 17 June 2016 and
      97 words
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  • TECHNOLOGY
    • 982 14 But critics point to conflict of interest, raise concerns about uniting 2 money-losing firms REUTERS New York SOME of Tesla Motor Inc’s biggest investors have signalled support for chief executive Elon Musk’s plan to buy solar power company SolarCity Corp, although the electric car
      REUTERS; PHOTOS: REUTERS  -  982 words
    • 397 14 REUTERS Washington US President Barack Obama will head to Silicon Valley to a summit aimed at connecting about 1,200 entrepreneurs from 170 countries with the biggest and brightest players in the US technology sector and venture capital community. Hot-button
      REUTERS  -  397 words
    • 870 14 WP Paris BENEATH three glass bell jars, in a locked vault in the basement of a highly secure facility outside Paris, sits the world’s most important kilogramme. Ever since 1889, when the General Conference on Weights and Measures (CGPM) made the imperious pronouncement,
      WP  -  870 words
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  • CONSUMER
    • 669 15 Increasingly price-savvy shoppers are driving a boom in online trade REUTERS Hunter Valley, Australia WU Zhendong sees himself as something of a wine buff. The 2 5-year-old lawyer from China’s western city of Chengdu is a member of his local wine club, likes
      REUTERS  -  669 words
    • 437 15 BLOOMBERG New York JOHN Idol, chief executive officer of Michael Kors Holdings Ltd, is on a mission to make the brand more enticing to men. The company’s partnership with the McLaren-Honda Formula 1 racing team, announced on Wednesday, is part of a
      BLOOMBERG; PHOTO: REUTERS  -  437 words
  • Page 15 Advertisements

  • REAL ESTATE
    • 550 16  -  Sabana cites CIS code amendment for Reits to adopt 45% single-tier leverage limit without credit rating requirement By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore S&P Global Ratings on Thursday downgraded its long-term corporate credit rating on Sabana Shari’ah Compliant Reit to “BB+”
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    • 585 16 They are thus able to put some money away for that eventual first purchase BLOOMBERG New York A POPULAR narrative of the US housing market has been that big city prices are locking out young buyers, feeding a cycle in
      BLOOMBERG; PHOTO: BLOOMBERG  -  585 words
    • 300 16 REUTERS Santa Barbara A CHARITABLE foundation representing the legacy of renowned US television chef Julia Child has sued Airbnb, saying that the short-term rental company used her name without permission to promote a stay in France at her former vacation cottage in Provence.
      REUTERS  -  300 words
    • 630 17  -  Frasers Hospitality in partnership with Japan’s Sekisui House to open serviced residence under the Fraser Suites brand By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore Singapore FRASERS Hospitality, the hospitality unit of Frasers Centrepoint Limited (FCL), has tied up with Japanese developer Sekisui House to
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  • Page 16 Advertisements
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  • Page 17 Advertisements
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      661 words

  • GOVERNMENT & ECONOMY
    • 623 18 They fall 6% to a 551,000 annualised pace following April’s 586,000 rate that was slower than previously estimated LATEST US DATA BLOOMBERG Washington PURCHASES of new homes in the United States declined in May from an eight-year high as the
      BLOOMBERG  -  623 words
    • 644 18 REUTERS London EUROZONE business growth remained muted this month, suggesting the current quarter’s economic performance won’t match the strong pace set at the start of the year, a survey showed. A surprising bounce in manufacturing activity was not enough to offset
      REUTERS; PHOTO: REUTERS  -  644 words
    • 311 18 REUTERS AFP Berlin A GUNMAN opened fire in a cinema complex in the small western German town of Viernheim, near Frankfurt, on Thursday, German media reported. Police shot the man dead after elite forces stormed the complex, the Mannheimer
      REUTERS; AFP; PHOTO: REUTERS  -  311 words
    • 362 18 REUTERS Shanghai CHINESE companies invested nearly US$15 billion in countries participating in Beijing’s new Silk Road initiative last year, up one-fifth from 2014, President Xi Jinping said in Uzbekistan, lauding a scheme that is one of his key foreign policies. Under
      REUTERS  -  362 words
    • 370 18 BLOOMBERG Washington FEDERAL Reserve chair Janet Yellen called widening wealth disparity between races in the US “extremely disturbing”, and warned that it could reshape consumption patterns in the future. The questions on Wednesday from the House Financial Services Committee to the
      BLOOMBERG  -  370 words
    • 548 18 REUTERS BLOOMBERG Jakarta INDONESIA is considering forming a special region that will serve as an onshore financial centre in which domestic firms can create shell companies without having to go to tax haven countries, its finance minister said
      REUTERS; BLOOMBERG  -  548 words


  • TRANSPORT
    • 604 20 600m tonnes of goods per year forecast to cross canal within next decade twice the current volume AFP Panama City WITH its capacity boosted nearly three times, Panama’s enlarged canal set to be inaugurated on Sunday is expected to stimulate trade between the
      AFP  -  604 words
    • 522 20 REUTERS New Delhi OFFICIALLY at least, Ratan Tata, patriarch of one of India’s wealthiest business families, retired in late 2012. In reality, he has been a driving force behind Tata’s bet on airlines and a rare public campaign to open
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    • 568 20 BLOOMBERG London IRAN’S signing this week of an outline deal for 109 Boeing Co jetliners five months after agreeing to buy 118 from Airbus Group SE underscores the scale of the former state’s airline ambitions. The purchase of almost 230
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  • Page 20 Advertisements
    • 129 20 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 GOODIE BAG WORTH OVER $750 Get a Ice Chrono Electrik Watch worth $300, Golfing Vouchers from The Dalat at 1200, Laguna
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  • Page 21 Advertisements
    • 1119 21 THE BUSINESS TIMES Shipping times MONTREAL 10 120 29/7 30/7 4/8 MONTREAL 10 120 29/7 30/7 4/8 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) SIN PKL KUC KK JKT SUR COSMIC ACE 010 100 29/6 1/7 3/7 5/7 POSITIVE STAR 116 100 1/7
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    • 308 21 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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    • 748 21 WALLENIUS WILHELMSEN LOGISTICS Tel: (65) 6470 9100 Fax: (65) 6235 3623 Email: 2wsinenq@2wglobal.com website: http://www.2wglobal.com AUSTRALIA NEW ZEALAND TO ASIA VESSEL VOY AKL BNE PKL MEL FRE SIN TALISMAN FF623 14/06 18/06 20/06 22/06 27/06 04/07 FEDORA FF625 30/06 04/07 06/07 08/07 14/07 20/07 TAMESIS FF626 14/07 18/07 21/07 24/07
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  • OPINION
    • 569 22 EDITORIAL CROWDFUNDING has opened the gates of private equity to retail investors, and further innovations such as collateralisation are about to widen the entrance even more. From a risk perspective, that greater access also opens the doors to
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    • 939 22  -  THE BOTTOM LINE By Anthony Rowley THE International Monetary Fund (IMF) is revisiting some old taboos including the proscription against government debt monetisation by central banks and the prejudice against state-mandated incomes policies to see whether it might be better to ignore these
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    • 1480 22  -  SADC 2016 will let India forge connections and build partnerships for critical investments and trade links with the international Indian/South Asian diaspora. BY GOPINATH PILLAI BY GOPINATH PILLAI T The writer is chairman of the Institute of South Asian studies and Ambassador-at-Large at Singapore’s
      PHOTO: BLOOMBERG  -  1,480 words
    • 766 23  - Singapore and Germany partners in ‘Industrie 4.0’ COMMENTARY By Michael witter, Wolfgang Huppenbauer T The writers are respectively Germany’s ambassador to Singapore and president of the Singaporean-German Chamber for Industry and Commerce SINGAPORE and Germany are among the most advanced industrialised countries in the world. Both have a substantial share
      766 words
    • 1009 23  -  By Nicole Fung, Vivienne Junzhao Ong T The writers are transfer pricing leader and senior tax manager at PwC Singapore respectively ON JUNE 16 2016, Singapore announced that it is joining the inclusive framework for the global implementation of
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    • 897 23  -  The risks for the country are real as it morphs into a consumption-led economy amid a slowdown, but Beijing can handle the transition without unrest. BY BILL WINTERS BY BILL WINTERS T The writer is group chief executive of Standard Chartered
      PHOTO: AFP  -  897 words


  • CITY LIFE
    • 911 24  -  Maker Faire Singapore is a family-friendly festival of innovation, creativity and resourcefulness. BY AVANTI NIM resourcefulness.BY AVANTI NIM avantin@sph.com.sg Mathematics has been a natural enemy of children for centuries, much like broccoli. Add rote learning to the equation, and it’s no wonder that few clamour to explore
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    • CITY BUZZ BT writers' picks of what to see, do or talk about
      • 271 24  -  By Dylan Tan SHOPPING G-Shock x Futura collaboration and Casio Concept Store HOT on the heels of last week’s limited edition Marcelo Burlon collaboration (which sold out on the day of its release), Casio G-Shock will be releasing its tie-up with legendary
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      • 188 24  -  DINING By Tay Suan Chiang WHY wait till the weekend to indulge in a steak? District 10 Bar Grill at Suntec City offers what it calls the best-priced bistecca alla fiorentina, or Fiorentina steaks in town. Their Great Lunch Steak Out features a Fiorentina, or
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      • 168 24  -  DINING By Tay Suan Chiang WHO doesn’t love crunching down on the crispy skin of a suckling pig? As part of its 20th anniversary celebrations, Si Chua Duo Hua Restaurant at PARKROYAL is presenting a Flambe Suckling Pig Feast. Executive Cantonese chef Leung Wing Chung marries
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      • 155 24  -  THEATRE By Helmi Yusof BASED on a true story, Riding on a Cloud (above) is an extraordinary little play about Yasser, a once-bril-liant young man who was shot while crossing the street in Beirut. It left him slightly paralysed, speech-impaired and experiencing the world quite differently
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      • 197 24  -  DINING By Rachel Loi LOOKING for somewhere to host a weekday business lunch? Try one of Hua Ting Restaurant’s three new Executive Set Lunch menus, featuring five courses from S$ 3 5 to S$60, prepared by Masterchef Chung Lap Fai. The first is a
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  • WINE/MUSIC
    • 1064 25  -  Poor vintage virtually tanked the market in 2011 after a good 2009 and 2010. Signs of recovery emerged only late last year. BY NK YONG THE Bordeaux 2015 en primeur campaign closed last Monday, with the announcement of the en primeur price of
      PHOTO: AFP  -  1,064 words
    • 635 25  -  By Sue-Ann Tan suetan@sph.com.sg WRITING original songs takes skill, vulnerability and an ear for poetry. At 22, Beth Yap seems to have all three, having chosen the difficult path of writing and arranging countless original songs over simply doing covers. She recently released Beauty
      PHOTO: NATIONAL YOUTH COUNCIL; PHOTO: RAPHAEL ONG  -  635 words
  • Page 25 Advertisements
    • 14 25 Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices
      14 words
    • 90 25 It, I MOSEL o^'’"" iSter G e// ZILLIKEN 2014 Rausch Spatlese that specialises in German and French wines. Check out our award-winning wines of the Peak'G'Top 100 and the GOLD awards of UOB-Tower Club Wine Challenge 2016. Terms Conditions: All unit prices stated are inclusive of GST and are wholesale
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  • Page 25 Miscellaneous
    • 327 25 CRYPTIC CROSSWORD Across 1 In court, long for prestige (6) 5 Al Capone’s panic around France, oddly (8) 9 Disobedient in playing outside barn (13) 10 Fertiliser coming as a result of dog’s dinner? (4,4) 11 St Andrew’s cross, left out that’s supposed to be funny (6) 12 Fliers fail,
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  • ARTS
    • 633 26  -  Newsha Tavakolian’s photos show Muslim women as resilient and determined, in contrast to common misconceptions. misconceptions.BY HELMI YUSOF helmi@sph.com.sg @HelmiBT THE opening of the OPEN festival was marred by an incident of censorship. The Media Development Authority (MDA) objected to 15 photos in an exhibition
      PHOTO: NEWSHA TAVAKOLIAN  -  633 words
    • 556 26  -  B y Cheah Ui-Hoon uihoon@sph.com.sg ROCKS have a life force which Singaporean artist Oh Chai Hoo tries to capture in his black-and-white paintings. “I’ve been fascinated with rocks from a young age. They have, of course, been around longer than humans, so I see them
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    • 531 26  -  By Helmi Yusof helmi@sph.com.sg @HelmiBT YOU wouldn’t think it from the humdrum title, but Joel Tan’s Café is possibly the creepiest, canniest, most cunning play of the year. Debuting at last week’s The Twen-ty-Something Theatre Festival, the premise of Café appears simple enough: two women
      PHOTO: CRISPIAN CHAN  -  531 words
  • Page 26 Advertisements
    • 41 26 T To attend Tavakolian’s talk, purchase from Sistic a ticket priced at S$45, which gives you access to the exhibition as well as 41 other events at the OPEN. As seats are limited, certain events require simple online pre-registeration on sifa.sg/theopen
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  • TV/CINEMA
    • 901 27  -  Andy Casagrande and Jeff Kurr offer more of their deep-sea escapades for Discovery Channel’s upcoming Shark Week. BY SUE-ANN TAN Week.BY SUE-ANN TAN suetan@sph.com.sg “PLAN for the worst but hope for the best” that is the mantra of wildlife cameraman Andy Casagrande, who regularly dives
      901 words
    • 486 27  -  By dylantan@sph.com.sg Dylan Tan dylantan@sph.com.sg @DylanTanSYBT CALL it the Third Coming, if you will after Risen and The Young Messiah just months ago, the Son of God is resurrected for the big screen once again at the multiplex in Last Days in the
      486 words
    • 582 27  -  By Geoffrey Eu “THEY’RE coming back!” screams former US President Thomas Whitmore (Bill Pullman) as he awakes from a sweaty nightmare in director Roland Emmerich’s loud, frantic and hugely disappointing sci-fi spectacle Independence Day: Resurgence, the sequel to Independence Day (1996), the effects-heavy pioneer that helped
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  • Page 27 Advertisements
    • 121 27 T Discovery Channel’s Shark Week airs on Singtel tv 202 and Starhub Ch 422 from June 27 to July 1 DEBUT OF THE “FULLERTON MONUMENTAL MENU” Savour the flavour of nostalgia as you partake of the new “Fullerton Monumental Menu created in commemoration of the gazette of The Fullerton Hotel
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  • Lifestyle
    • 1616 28  -  With NTU CCA, a new gallery and new shops, Singapore’s once-flagging art cluster appears to be livelier than before. But has business improved? BY HELMI YUSOF improved?BY HELMI YUSOF helmi@sph.com.sg @HelmiBT Ursula Sullivan, one-half of the dynamic duo behind Australian gallery Sullivan Strumpf, appears
      PHOTO: BELLE MAGAZINE; PHOTO: SUPERMAMA  -  1,616 words
    • 126 28  -  By Helmi Yusof Sullivan Strumpf opening show The new gallery’s inaugural exhibition features works by its best artists including Sam Jinks (above), Alex Seton and Ex De Medici. Anthony Poon at Sundaram Tagore Several works by the late Singapore abstractionist Anthony Poon is now on glorious
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  • Page 28 Advertisements
    • 3 28 ifestyle BTLi estyle
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    • 60 28 CINEMA A disappointing effects-laden orgy/ 27 CITY LIFE BT writers’ picks of what to see, do or talk about/24 T On Saturday (June 25), Gillman Barracks is holding an open house event called “Art Day Out! at Gillman Barracks The School Holidays Edition” from 2pm to 7pm. The family-friendly event
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