The Business Times, 14 October 2016

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Total Pages: 30
1 30 The Business Times
  • 22 1 THE BUSINESS TIMES A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BusinessTimes MCI (P) 052/08/2016 S$1.20 CO REGN NO *****2868E GFriday, October 14, 2016
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  • 139 1 integrated Shield Plans are in danger of becoming unsustainable as rising claims have drastically squeezed underwriting profit margins. TOP STORIES 2 Singapore and Australia complete the third review of their bilateral free-trade agreement, and the upgraded pact is expected to enter into force next year. TOP STORIES 4
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  • 1099 1  -  It proposes introduction of medical fee guidelines, use of panel of “preferred healthcare providers”, among others HEALTH INSURANCE By Genevieve Cua gen@sph.com.sg @GenCuaBT Singapore THE Health Insurance Task Force (HITF) on Thursday issued a set of recommendations aimed
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  • 743 1  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore WITH Swiber Holdings’s collapse haunting investors and the market, mainboard-listed Gallant Venture is not taking any chances on its S$225 million of bonds maturing next year. Chief financial officer Alvin Choo told The Business Times:
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  • 287 1 IT’S the end of another work week, and the second edition of the newly launched Business Times Weekend (BT Weekend) is set to engage you again this Saturday. Unveiled a week ago to an enthusiastic reception from readers, the newspaper comes with its own luxury
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  • 27 1 Thursday Change STI 2,805.48 -8.23 KL COMP 1,665.02 -2.01 NIKKEI 225 16,774.24 -65.76 HANG SENG 23,031.30 -375.75 SHENZHEN B 1,188.02 +2.18 DOW (11.45 EDT) 18,023.81 -120.39
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  • Page 1 Advertisements
    • 107 1 *****1 *****1 THE BUSINESS TIMES 4 MASTER CHRONOMETER CERTIFICATE METAS (Federal Institute of Metrology) certifies thot this individual timepiece has successfully passed the tests to earn the distincton -MASTER CHRONOMETER-*. CONSTELLATION PETITE SECONDE THE FIRST MASTER CHRONOMETER FOR WOMEN Complex in creation, yet beautiful in looks, it sets a new
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    • 14 1 DINING OUT VLV restaurant makes waves bt lifestyle 26 A Gallant concern, Page 5
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    • 26 1 LONGEST REIGN King Bhumibol dies, aged 88 TOP STORIES 2 VIRTUAL PROPERTY View a condo via VR showsuite REAL ESTATE /16 ~BT Readers’ Promotion, Page 4
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    • 9 1 Rising claims costs point to premium hikes, Page 2
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  • TOP STORIES
    • 646 2 Thai government declares a year of mourning for the country’s beloved and world’s longest-reigning monarch BLOOMBERG REUTERS AFP Bangkok THAILAND’S King Bhumibol Adulyadej, the world’s longest reigning monarch, has died. He was 88. The king died at 3:52 pm on Thursday at Bangkok’s Siriraj Hospital,
      BLOOMBERG; REUTERS; AFP; PHOTO: AFP  -  646 words
    • 781 2  -  HEALTH INSURANCE By Genevieve Cua gen@sph.com.sg @GenCuaBT Singapore A STUDY conducted by the Life Insurance Association Singapore last year has found that while Integrated Shield Plans (IPs) have served policyholders well, they are in danger of becoming unsustainable as rising claims have drastically squeezed
      Source: www.lia.org.sg  -  781 words
    • 798 4  -  Four bilateral agreements signed on final day of PM Lee’s visit Down Under By Lee U-wen leeuwen@sph.com.sg @LeeUwenBT Singapore SINGAPORE and Australia have completed the third review of their bilateral free-trade agreement (FTA), and the upgraded pact is expected to enter into force
      PHOTO: AFP  -  798 words
    • 438 4 AFP Washington LAST month’s Federal Reserve decision not to increase interest rates was a “close call” for several policymakers, supporting views that a hike could come in December, said the minutes of a Fed meeting released on
      AFP  -  438 words
    • 624 4  -  By jaccheok@sph.com.sg Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore SINGAPORE has questioned the handling of certain indicators in the 2016 Global Innovation Index (GII), which appear to present a lopsided picture of its level of innovation. While it has been ranked No 1 globally
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    • 195 4 BT READERS’ PROMOTION IN celebration of The Business Times’ 40th Anniversary, readers can enjoy discounts on GrabTaxi rides and dining deals at selected exquisite restaurants this October. All you have to do is purchase The Business Times Weekend. For this week’s deal, readers
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    • 459 4  -  By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore THE ultra rich in Protestant Switzerland and Germany may provide clues to how their Asian counterparts, especially those in Singapore, can preserve wealth across generations and ultimately how it trickles down to the
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    • 543 4  -  By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore SINGAPORE business leaders may have a global outlook but they lack the global mindset one that’s truly inclusive of multiple, diverse perspectives to take on the world, says a study by the
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  • Page 2 Advertisements
    • 626 2 VALLIANZ HOLDINGS LIMITED (Company Registration Number: *****6945E) (Incorporated in the Republic of Singapore) NOTICE OF POSTPONEMENT OF EXTRAORDINARY GENERAL MEETING The board of directors (the “Board”) of Vallianz Holdings Limited (the “Company” and together with its subsidiaries, the “Group”) refers to the Company’s announcements dated 6 September 2016, 28 September
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    • 86 2 SCjI I SINGAPORE PRESS HOLDINGS ST" S i HmnF* MEDIA CENTRE; GENTING LANE B1 INDUSTRIAL SPACE FOR RENT Fully fitted air-cond industrial office with carpet Area from 700 sq ft to 7,653 sq ft Interested, please call Shawn at 9694 5349 4 spi Print Centre :v m INDUSTRIAL/WAREHOUSE SPACE FOR
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    • 8 2 Thai unifying figure leaves lasting legacy, Page 22
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  • Page 3 Advertisements
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  • COMPANIES & MARKETS
    • 893 5  -  Loss-making firm’s high debt levels and weak cashflow problems likely to persist into 2017 HOCK LOCK SIEW BY CAI HAOXIANG haoxiang@sph.com.sg @HaoxiangCaiBT MAINBOARD-LISTED Indonesian play Gallant Venture, in which Sembcorp Industries holds a 12 per cent stake, is going through a rough patch. And the market shows
      Source: Bloomberg  -  893 words
    • 417 5  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore URBAN development consultancy group Surbana Jurong has bought one of Singapore’s three licensed auxiliary police organisations from Surbana Jurong’s parent, investment firm Temasek Holdings, in a bid to add security and safety to its urban master plans,
      FILE PHOTO  -  417 words
    • 475 6 SGX has received letters outlining concerns about the medical service provider’s business, sources say BLOOMBERG Singapore FULLERTON Healthcare Corp, the medical service provider that took orders for its Singapore initial public offering (IPO) last week, is facing delays to the share sale
      BLOOMBERG  -  475 words
    • 758 6 Price weakness seen as a buying opportunity for long-term investors BLOOMBERG Seoul THE debacle that sent Samsung Electronics Co to its biggest three-day stock rout since 2012 isn’t scaring TT International (HK) Ltd and Skagen AS from South Korea’s biggest company. “Samsung
      BLOOMBERG  -  758 words
    • 400 6  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore HIGHER unrealised exchange loss, impairment loss on Centurion Corp shares and lower contributions from its associates and joint ventures (JVs) led construction group Lian Beng to report steep declines in its fiscal first-quarter top and bottom lines. Lian
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    • 371 6 BLOOMBERG Amsterdam ING Groep NV will move as many as 60 trading jobs from Amsterdam and Brussels to London as the biggest Dutch lender seeks to consolidate operations and cut costs, a person with knowledge of the plans said
      BLOOMBERG; PHOTO: BLOOMBERG  -  371 words
    • 710 8  -  Uptake has been very strong ahead of Singapore Airlines’ relaunch of non-stop flight to the US later this month, says SIA’s Campbell Wilson By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Toulouse, France DEMAND for Singapore Airlines’ (SIA) upcoming direct service to San Francisco
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    • 219 8  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore ENGINEERING group Tee International has bagged S$48 million worth of new contracts, including one from Changi Airport Group involving a runway system, it said in a Singapore Exchange filing on Thursday morning. The total amount of new contract
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    • 357 8  -  By Vivien Shiao vshiao@sph.com.sg @VivienShiaoBT Singapore IN a move to help small and me-dium-sized enterprises (SMEs) manage costs, the United Overseas Bank (UOB) will be launching a virtual marketplace for its SME customers to view and purchase business products and services. Slated to
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    • CORPORATE DIGEST
      • 126 8 vallianz Holdings has postponed its Oct 17 extraordinary general meeting in relation to its proposed one-for-one rights issue of up to 3.596 billion new shares with free detachable warrants. This follows a notification by Swiber Holdings judicial managers on Thursday of Swiber’s interest to participate in the exercise
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      • 36 8 vard Holdings, a designer and shipbuilder of specialised vessels, has inked an agreement to acquire Storvik Aqua AS, a Norway-headquartered equipment supplier to the aquaculture industry, for some 35 million Norwegian krone (S$5.9 million).
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      • 90 8 JES International’s auditors have not given the company’s financial statements for the year ended December 2015 a clean bill of health. The auditors attributed several factors for this including the non-preparation of consolidated financial statements and material uncertainties which may cast doubt on JES’s ability to continue as
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    • Article, Illustration
      63 10 STI Catalist Straits Times Index Oct 13,2016 2,805.48 -8.23 (-0.29%) Current streak 5 days Day high 2,808.67 Day low 2,783.33 52-week high 3,083.07 (Oct 26, 2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist index Oct 13,2016 451.72 -7.52 (-1.64%) Current streak 3 days Day high 464.36 Day low
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    • 641 10  -  Thursday a weak day for Singapore and regional bourses with 100-point fall in Dow futures STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT WALL Street may have risen slightly on Wednesday but a 100-point loss in the Dow futures after trading closed meant Thursday
      Source: Bloomberg  -  641 words
    • 302 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 244 +3 244/239 257 209 6.3 6781.3 CapitaCom Trust 156 +2.5 156/152 164 127 5.5 4621.6 CapitaLand 311 +3 311/307 340 280 12.4 2.9 *****.9 CapitaMall Trust 211 +2 212/206 225 185
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    • 34 10 VOLUME Noble 330,850,700 Spackman 153,268,000 Charisma Energy 80,500,700 Ezra 64,137,400 TT Intl 61,203,400 Market volume 2,542,111,000 VALUE Singtel 124,755,249 UOB 108,187,617 DBS Grp 92,857,121 OCBC Bank 78,124,947 Noble 57,791,318 Market value 1,288,001,000
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    • 109 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 285 -2 1135 286/283 314/254 285/286 CIMBASEAN40 US$ US840 -8 417 851/840 905/736 840/846 131.7 DBXT MSPHILS US$ US194.2 -1.6 118 196.4/194.2 222.5/158.5 193.9/194.7 15.5 DBXT MSTHAI US$ US1807 -38 92 1853/1794 2107/1419 1792/1866
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    • 77 10 Oct 13 VALUE CLOSE BT OB/OS -217.00 -224.00 BT CADI -*****.00 -142.00 BT 10-day MA -*****.00 -21.00 FTSE ST Mid Cap 687.50 +0.20 FTSE ST Small Cap 382.85 -3.78 FTSE ST All Share 692.77 -2.57 FTSE ST China Top 156.49 -1.62 FTSE ST China 192.52 -0.29 FTSE
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    • 36 10 STI FTSE ST All-Share FTSE ST All-Share index Oct 13, 2016 692.77 -2.57 (-0.37%) Current streak 5 days Day high 693.88 Day low 688.18 52-week high 743.17 (Oct 26, 2015) 52-week low 625.37 (Jan 21, 2016)
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    • 34 10 STI MSCI EAFE MSCI EAFE index Oct 12, 2016 1,662.27 -15.47 (-0.92%) Current streak 2 days Day high 1,680.61 Day low 1,659.62 52-week high 1,779.25 (Oct 26, 2015) 52-week low 1,492.43 (Feb 12, 2016)
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    • 186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 6 4 0 1 0 6 7 4 Manufacturing 28 48 27 10 7 9 38 55 36 Commerce 13 28 6 2 9 4 15 37 10 Tpt/Stor/Comms 7 14 10
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    • 123 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 19,163 259 19,422 61,850 42 61,892 Manufacturing 147,660 97,426 245,086 118,725 3,739 122,464 Commerce 460,993 46,391 507,384 143,619 799 144,418 Tpt/Stor/Comms 153,959 1,345 155,304 215,074 121 215,195 Finance 28,275 20 28,295 293,420 3 293,422 Construction
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    • 76 10 BY CENTS CLOSE UP 52w high/low GLD US$ ***** 24.9 0.2 *****/***** DBS Bk 4.7% NCPS ***** 20.0 0.2 *****/***** DBXT Vietnam US$ 2432 18.0 0.5 2533/2017 DBXT S&PShort US$ 1977 16.6 0.6 2362/1930 Great Eastern 2060 15.0 0.7 2332/1940 BY PERCENTAGE CLOSE UP 52w high/low AP Strat W*****9
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    • 77 10 BY CENTS CLOSE DOWN 52w high/low SPDR S&P500 US$ ***** -426.7 -1.4 *****/***** DBXT E50 US$ 4410 -156.6 -2.5 5000/3918 DBXT MSKorea US$ 5637 -121.9 -1.5 6041/4629 Jardine C&C 4000 -118.0 -2.9 4520/3071 JMH USD 6077 -88.7 -1.0 6371/4500 BY PERCENTAGE CLOSE DOWN 52w high/low MS Hldgs 8 -42.9
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    • 81 10 VOL CLOSE($) CHANGE TT Intl 61,203.4 0.041 +0.014 +51.85 Hu An Cable 12,529.4 0.005 +0.002 +66.67 Eucon 10,095.5 0.035 +0.011 +45.83 MS Hldgs 30.0 0.080 -0.060 -42.86 Infinio 8,004.8 0.002 +0.001 +100.00 Dragon 23,476.9 0.019 +0.007 +58.33 IPCO Intl 44,080.3 0.003 -0.001 -25.00 OEL 10,570.3 0.013 +0.002 +18.18
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    • BROKERS’ TAKE
      • 109 10 Innovalues Ltd Add (upgrade) Target price: S$1.03 Oct 13 close: S$0.945 CIMB Research, Oct 12 WE believe Innovalues is on track to attain 10-12 per cent 2016-17 forecast sales growth with gross margin improvement to 32 per cent, based on our recent check with management. Channel checks with a Singapore-listed
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      • 109 10 Sarine Technologies Buy Target price: S$2.01 Oct 13 close: S$1.68 Maybank Kim Eng Research, Oct 12 WE believe that Q3 2016 is unlikely to disappoint and expect US$4 million to US$6 million in net profit. Our confidence stems from: 1) decent rough diamond sales in De Beers’ Sight 7 and
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      • 198 10  - Soilbuild Reit Buy Compiled by Cai Haoxiang Target price: S$0.77 Oct 13 close: S$0.705 OCBC Investment Research, Oct 13 SOILBUILD Business Space Reit (Soilbuild Reit) reported its Q3 2016 results which came in within our expectations. Gross revenue decreased 4.7 per cent year on year to S$19.7 million, while distribution
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    • 18 10 DATA I Oct 14 Singapore advance GDP estimates, monetary policy statement, and retail sales index. China CPI
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    • 397 11 CURRENCIES REUTERS London A POOR batch of Chinese trade numbers halted the US dollar’s broader rally on Thursday and sent the offshore version of the country’s yuan currency to within sight of lows hit in a dramatic sell-off in January. In the
      REUTERS  -  397 words
    • FOREX RATES
      • Article, Illustration
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      • 471 11 Oct 13 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.999 5.059 0.683 5.836 50.336 98.287 0.781 8.550 3.171 1.067 78.724 36.412 1.042 10.794 0.744 23.915 26.882 0.618 0.752 Canada 1.001 5.062
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      • 2 11
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      • Article, Illustration
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      • 155 11 Oct 13 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0417 1.0425 0.7519 0.7524 Canadian dollar 1.0424 1.0429 0.7527 0.7524 Euro 1.5253 1.5257 1.1010 1.1011 NZ dollar 0.9759 0.9766 0.7044 0.7048 Sterling pound 1.6853 1.6861 1.2165 1.2169
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      • 22 11 Oct 13 S$ Bid Offer 1-month 1.3850 1.3854 2-months 1.3849 1.3853 3-months 1.3849 1.3852 6-months 1.3846 1.3851 Source: OCBC
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      • Article, Illustration
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    • EQUITY BONDS WARRANTS FUTURES
      • 211 11 Most active Oct 13 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Charisma EnergyServicesW*****3 0.3 0.1 ***** 1 3 1 Equation Summit LimitedW*****2 0.1 unch 6313 1 1 83 6.00 10 UOB MB eCW*****1 7.3 -1.4 4409 0.1 1880
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      • 377 11 In local curr In S$ In US$ dy yr dy yr dy yr Oct 12 Index Change Change Change Change Change Change World Preliminary 1298.2 -0.2 1.6 0.1 -0.5 -0.3 2.0 EAFE Preliminary 977.0 -0.6 -3.6 -0.6 -5.5 -0.9 -3.1 Europe Preliminary 1401.5 -0.5 -0.8
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      • 393 11 Oct 13 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Oct16 9665.00 9720.00 9640.00 9640.00 *****9 *****1 Nov16 9692.50 9737.50 9660.00 9657.50 2390 3474 NIKKEI 225 INDEX FUTURES Dec16 *****.00 *****.00 *****.00 *****.00 ***** *****8 Mar17 *****.00 *****.00 *****.00 *****.00 170 2533 MSCI TAIWAN
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    • BANK RATES
      • 173 11 Rates quoted by Icap (S) Pte Ltd 5"’! I I 55 (met mu Overmgm 0104 0 02 I-I110mh D 625 0 .375 zrmomhs 0.3125 0.6815 3-months 0.375 0.75 overnight nioflei 0.03 Has one: am 7 days 0 55 0.45 1 month 0.63 0.53 2 m0nt|1s 0.80 0,60 3
        Rates quoted by Icap (S) Pte Ltd  -  173 words
      • 69 11 Oct 13 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****A 4.000 01-Sep-18 105.78 105.85 105.80 5-Year N*****0Z 1.250 01-Oct-21 99.45 99.55 99.50 10-Year NX*****F 2.125 01-Jun-26 102.3 102.60 102.25 15-Year NZ*****F 2.875 01-Sep-30 108.52 108.90 108.50 20-Year NZ*****X 2.250 01-Aug-36 100.07
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    • AGRI METALS ENERGY
      • 253 11 Oct-12 Price Net change change Last Trade Agricultural Oct-12 CBOT Soybeans (US cents/bu) 945.50 -8.75 -0.92% 14/11/2016 CBOT Soybean Oil (US cents/lb) 33.14 -0.02 -0.06% 14/10/2016 CBOT Wheat (US cents/bu) 396.75 -10.50 -2.58% 14/12/2016 Oct-12 LIFFE Cocoa (£/tonne) 2232.00 -17.00 -0.76% 13/12/2016 LIFFE Coffee (US$/tonne) 2038.00 10.00 0.49%
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    • 1729 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Last Vol Day Div GrYld 136.5 107 AIMS Property 133 unch 46 134 133 1.5 48 149 127 AIMSAMP Cap Reit 139.5 unch 278 140 139 0.9 8.1 889 High
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    • 315 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Last Vol Day LOW Div GrYld 0.6 0.1 t Advanced Systems 0.4 +0.2 0 0.4 0.2 10.5 46.5 29.5 t Advancer Global 39 -1.5 823 40.5 38.5 15.5 67.5 HiBh 16.2
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    • 145 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last 84.2 69.1 CIMB APAC Div US$ US81.3xd -0.3 5 81.3 81.3 8.5 1210 1061 CIMBASEAN40 S$D 1165 +9 0 1165 1165 905 736 CIMBASEAN40 US$ US840 -8 417 851
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  • Page 5 Advertisements
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  • Page 6 Advertisements
    • 258 6 THE BUSINESS TIMES A MATTER OF TASTE PRESENT Thelatinstars winedinner Friday, October 21, 2016 7:00PM 10:30PM Alma by Juan Amador Goodwood Park Hotel The Business Times turned 40 on October 1, 2016. To celebrate this special anniversary, BT and Robert Parker Wine Advocate are pleased to present the Latin Stars
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    • 198 6 ODUT I health wnn i i trust (Registration Number *****06) (a business trust constituted on 29 July 2011 and registered on 25 September 2012 under the laws of the Republic of Singapore) managed by RHT Health Trust Manager Pte. Ltd. Notice of Books Closure Date Payment Date for Special Distribution
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  • Page 7 Advertisements
    • 79 7 Our Heartiest CONGRATULATIONS to Pepperl+Fuchs on the Grand Opening of the Global Distribution Center We are proud to be your foremost team of builders sharing the joyous milestone of the successful development and completion of the five-storey fully automated Global Distribution Center, located at 15 Pioneer Turn, Singapore *****7. Main
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  • Page 9 Advertisements
    • 145 9 V t FLA awards 2016 CONGRATULATIONS TO ALL WINNERS OF FLA AWARDS 2016! PROMISING FRANCHISOR OF THE YEAR OVERALL WINNER Sunflower PRESCHOOL WINNERS flSYaGvrilfil EXPRESS SIMPLY DIFFERENT O S A® <Y) a.) Gerry Seriously Addictive Mathematics OVERALL WINNER ELEVEI1 FRANCHISOR OF THE YEAR WINNERS A* ai\IT MIV\C Cl—i i DtHClHi
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  • Page 12 Advertisements
    • 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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  • BANKING & FINANCE
    • 468 13 Scottish bank prohibited from managing 401(k) plans and other retirement funds after admitting to wrongdoing BLOOMBERG New York THE US government has prohibited Royal Bank of Scotland Group Plc (RBS) from managing 401(k) plans and other retirement funds a decision that has
      BLOOMBERG  -  468 words
  • Page 13 Advertisements
    • 2213 13 NOTICES Te l 6 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 a s s c o m s g NEW
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    • 1692 13 ASIA-PACIFIC STRATEGIC INVESTMENTS LIMITED (Incorporated in the Republic of Singapore) (Co. Reg. No. *****9901 H) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the Annual General Meeting ("AGM") of the Company will beheld atAntica I, Level 2, Orchard Parade Hotel, 1 Tanglin Road, Singapore *****5 on Monday, 31
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  • ENERGY & COMMODITIES
    • 545 14  -  But project award is still weeks away; lead consortium needs to justify large price differential, say sources By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore A CONSORTIUM led by Indonesia’s state-owned oil and gas company Pertamina is said to be leading
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    • 627 14  - Perisai’s insolvency adds to gloom for M’sian oil gas stocks By Pauline Ng btworld@sph.com.sg Kuala Lumpur MOST oil and gas stocks finished in the red on Thursday, on fears they would follow on the heels of Perisai Petroleum Teknologi Bhd which declared itself insolvent on Wednesday after failing to meet
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  • Page 14 Advertisements
    • 1179 14 decloulthe future is present DECLOUT LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number: *****7764W) NOTICE OF EXTRAORDINARY GENERAL MEETING Unless otherwise defined or the context otherwise requires, all capitalised terms herein shall bear the same meaning as used in the circular dated 14 October 2016 issued by the
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    • 1310 14 NOTICES Te l 6 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 a s s c o m s g IN
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    • 25 14 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
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  • TECHNOLOGY
    • 976 15 An IPO by the company may unleash others at a time when such big deals are rare NYTIMES San Francisco THE newest generation of technology darlings has signalled that it is about to come of age: Snapchat, the messaging service beloved by
      NYTIMES  -  976 words
    • 753 15 REUTERS Singapore LITHIUM-BASED batteries have been powering our portable devices for 25 years. But consumer demand for smaller, longer lasting devices is forcing manufacturers to push the technology, battery experts say, testing the limits of how much energy they can safely pack
      REUTERS; PHOTO: REUTERS  -  753 words
  • Page 15 Advertisements
    • 224 15 BuildTech Asia 2016 International Building Technology Expo l SINGAPORE CONSTRUCTION PRODUCTIVITY WEEK 2016 CONSTRUCTION A part of 18-20 October ***** Singapore EXPO Hall 3 and MAX Atria 10am-6pm (18-19 Oct) 110am-5pm (20 Oct) A 'a to 6 A a A A e a sc o c (S» f'So Hoflsi mk
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  • REAL ESTATE
    • 341 16 Tenants shop for more attractive leases, while landlords are working harder to offer them BLOOMBERG New York MANHATTAN apartment rents fell last month as landlords’ pricing power was hurt by a wave of new listings and tenants who shopped around for
      BLOOMBERG  -  341 words
    • 699 16  -  Keppel Land is launching another 30-40 Highline Residences units this weekend, along with the high-tech viewing By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore SWIVEL your chair, and you turn away from the bedroom window with its view of the Singapore
      PHOTO: KEPPEL LAND  -  699 words
    • 612 17  -  Flats, including those under the design, build and sell scheme, completed during the financial year fall 19.9% to 24,163 units By Kenneth Lim kenlim@sph.com.sg @Kenneth LimBT Singapore THE Housing Development Board’s (HDB) net deficit before government grants shrank
      FILE PHOTO  -  612 words
  • Page 16 Advertisements
    • 159 16 SALE FOR AMOY STREET GEM Commerical Conservation Shophouse A colonial Conservation gem. Beautifully restored, with no cost spared. Ideal for your office HQ, in a prestigious heritage quarter of the commercial hot spot. Buy it vacant or with tenancy. Perfect for an investment with a projected 3.8% return. Freshly restored
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  • Page 17 Advertisements
    • 630 17 Call Toll-free 1800-289-9988 To Place Your Classified Advertisements CLASSIFIED D04 HOUSE FOR SALE SENTOSA COVE 2~6pm: Sea view Sentosa 1) Land 7300 sqft 4+1 Luxurious 2) Land 7850 sqft 5+1 Beautiful. Lionel *****591 *****062 D10 HOUSE FOR SALE HOLLAND PARK Brand new *****/ ***** sf. Elevated land, wide frontage. With
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    • 222 17 JUST TOP Oriole Crescent 2.5 storey Modern Black White Bungalow GCB Zone ***** Land ***** Build up 4 Super En suites 1 brm 1 maid 1 Large attic room $19.89m Open House daily Call Developer sales team Mr Yang 9119 1092 LeePing 8671 3531 D08 SHOP FOR SALE SHOPHOUSES Super
      222 words

  • CONSUMER
    • 564 18 Move follows disagreement over Unilever’s bid to raise prices due to pound’s slump REUTERS London TESCO, Britain’s biggest grocery chain, has pulled dozens of Unilever brand products from its website after a disagreement over prices in the wake of a partly Brexit-driven slump in
      REUTERS; PHOTO: REUTERS  -  564 words
    • 678 18 AFP Tokyo NEED a pick-me-up? Try a lychee-flavoured coffee infused with jasmine, or a “Chardonnay” espresso served in a wine glass whatever your taste, Japan’s swashbuckling baristas are bringing some serious sex appeal to the drink. In a country famous for its tea, the
      AFP; PHOTO: AFP  -  678 words
    • 635 18  -  BY YEO CHONG YUEN Our minds have never been busier since the advent of the internet. More than ever, we are subjected to tremendous stress from the constant bombardment of information from all fronts, and the punishing pace of life in our quest for a
      635 words
  • Page 18 Advertisements
    • 68 18 A special feature brought to you by STJOBS LEARNING Examine who you are and appreciate the present moment to achieve mindfulness with "Unlock the Innate and Focus in your Mind" workshop organised by STJobs on 27 October. All workshops organised by STJobs qualify for tax savings under the Productivity and
      68 words

  • Page 19 Advertisements
    • 1933 19 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices CHIWAYLAND INTERNATIONAL LIMITED (Company Registration Number: *****0437K) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of CHIWAYLAND INTERNATIONAL LIMITED (the “Company”) will be held at Meeting Rooms .Jf a
      1,933 words
    • 286 19 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF 1) NEO FORMWORK PTE LTD (UEN:*****4155D) 2) NEOCLAD PTE LTD (UEN: *****1543G) 3) NEO INDUSTRIES PTE LTD (UEN:*****2871K) 4) CASCADE BUILDING PRODUCTS PTE LTD (UEN: *****8891K) (IN CREDITORS’ VOLUNTARY WINDING-UP) NOTICE OF FINAL MEETING NOTICE IS
      286 words
    • 181 19 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF VARICENT SINGAPORE PTE. LTD. (Company Registration No. *****4933N) NETEZZA SINGAPORE PTE. LTD. (Company Registration No. *****1093D) (IN MEMBER'S VOLUNTARY LIQUIDATION) NOTICE TO SUBMIT PARTICULARS OF DEBTS OR CLAIMS Notice is hereby given that the creditors of
      181 words
    • 3104 19 sp parkson PARKSON RETAIL ASIA LIMITED NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Parkson Retail Asia Limited the Company”) will be held at the Pan Pacific Singapore, Level 1, Pacific 1, 7 Raffles Boulevard, Marina Square, Singapore *****5 on Monday, 31 October
      3,104 words

  • GOVERNMENT & ECONOMY
    • 578 20  -  Customs spokesman says headwinds still present in foreign trade development; world growth is still slow By Virginie Mangin btworld@sph.com.sg Beijing CHINA’S exports fell by a sharp 10 per cent last month, raising concerns about the strength of the recent rebound of the
      PHOTO: AFP  -  578 words
    • 615 20 Decision to trigger Article 50, negotiations to leave EU without a vote reckless political move, say lawyers BLOOMBERG London LAWYERS seeking to force the government to hold a parliamentary vote on whether to leave the European Union (EU) told a panel of three senior
      BLOOMBERG  -  615 words
    • 637 20 NYT REUTERS New York THE scandal engulfing Wells Fargo toppled its chairman and chief executive on Wednesday as John Stumpf announced his departure from the company, effective immediately. The move was a swift and stunning fall for an executive whose bank made
      NYT; REUTERS; PHOTO: BLOOMBERG  -  637 words
    • 402 20 REUTERS Stockholm BOB Dylan, regarded as the voice of a generation for his influential songs from the 1960s onwards, has won the Nobel Prize for Literature in a surprise decision that gave a singer-songwriter one of the world’s most prestigious cultural
      REUTERS  -  402 words
  • Page 20 Advertisements

  • TRANSPORT
    • 508 21 Retiring older workers will help carmaker achieve cost cuts needed to revive its brand REUTERS Berlin VOLKSWAGEN’S works council chief said that the company could cut up to 25,000 staff over the next decade as older workers retire to help the carmaker
      REUTERS; PHOTO: REUTERS  -  508 words
    • 321 21 AFP Hong Kong SHARES in Hong Kong flag carrier Cathay Pacific plunged almost 5 per cent on Thursday after it scrapped its profit outlook for the second half of the year, citing competition and overcapacity. The Hong Kong-based firm said
      AFP  -  321 words
    • 240 21 REUTERS Seoul THE South Korean court overseeing Hanjin Shipping Co’s receivership process plans to put the collapsed shipper’s Asia-US operations up for sale as early as Friday, a court spokesman said on Thursday. The sale comes as creditors line up
      REUTERS  -  240 words
  • Page 21 Advertisements
    • 218 21 In the Matter of THE COMPANIES ACT (CHAPTER 50) And In the Matter of NEW ECON LINE PTE. LTD. (IN COMPULSORY LIQUIDATION) Company Registration No. *****4429E Companies Winding Up No. 101 of 2009/F Notice is hereby given that a meeting of the creditors of the Company will be held at
      218 words
    • 443 21 NOTICES Te l 6 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 a s s c o m s g THE
      443 words
    • 969 21 JES INTERNATIONAL HOLDINGS LIMITED (Company Registration No. *****4831K) (the “Company”) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of JES INTERNATIONAL HOLDINGS LIMITED will be held at Arena Country Club, 511 Upper Jurong Rd, Singapore *****6 on 31 October 2016, Monday at 9.30 a.m.
      969 words

  • OPINION
    • 761 22  -  THE BOTTOM LINE By Alex Tay Yen Shin T The writer is Asean head, Identity and Data Protection, at Gemalto THE Singapore government recently announced that public servants will be cut off from the Internet from May next year, in an extraordinary
      761 words
    • 579 22 EDITORIAL ONE of the depressing aspects of the 2016 American presidential campaign is the dearth of any serious discussion by the candidates about the state of the world and the role of the United States in it.
      579 words
    • 1730 22  -  It was under King Bhumipol that Thailand moved from a mostly agricultural economy to a modern one of industry and commerce and a growing middle class. BY BARBARA CROSSETTE OBITUARY agricultural BY BARBARA CROSSETTE NYTIMES KING Bhumibol Adulyadej of Thailand, who took the throne
      NYTIMES; PHOTO: AFP  -  1,730 words
    • 1023 23  -  COMMENTARY By Andrew Hammond T The writer is an associate at the Centre for International Affairs, Diplomacy and Strategy at the London School of Economics. London FIFTEEN years after the post-9/11 US-led invasion of Afghanistan, the country stands at critical economic and political crossroads.
      1,023 words
    • 685 23  -  By Andrew Davies T The writer is vice-president of Global Market Strategy, Financial Crime Risk Management, at Fiserv. PEOPLE and businesses demand that they have access to their money and payments anytime and anywhere they want. To meet customer expectations, the number
      685 words
    • 1280 23  -  Moves to target Russia as global threat may prove to be self-fulfilling prophecy By Leon Hadar Washington SINCE the collapse of the Soviet Union and the end of the Cold War, members of the American Foreign Policy Establishment (FPE) have been suffering from what former U
      PHOTO: REUTERS  -  1,280 words
  • Page 22 Miscellaneous
    • 135 22 Singapore Press Holdings News Centre, 1000 Toa Payoh North, Podium Level 3, Singapore *****4 SPH 6319-6319 BT 6319-5360 FAX: 6319-8278 Customer service: 6388-3838 www.businesstimes.com.sg Press releases: btnews@sph.com.sg Letters: btletter@sph.com.sg chief executive officer singapore press holdings ALAN CHAN deputy chief executive officer singapore press holdings PATRICK DANIEL editor-in-chief (english/malay/tamil media group)
      135 words


  • Page 24 Advertisements
    • 2016 24 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 n g NYK RORO (ASIA) PTE. LTD. K o n g REGULAR SERVICE
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    • 245 24 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 TTS003 15/10/2016 16/10/2016 Tebing Tinggi/Jambi DAILY Marco Polo 902 BST011 15/10/2016 16/10/2016 Buatan/Buatan DAILY Marco
      245 words

  • MOTORING
    • 531 25  -  The Seat Alhambra MPV is the Spanish version of the Volkswagen Sharan. BY SAMUEL EE samuelee@sph.com.sg THERE’S a Volkswagen seven-seat multi-pur-pose vehicle (MPV) that’s not actually a Volkswagen. It’s called the Seat Alhambra and it’s one of the four models being introduced by new Seat distributor Vertex.
      PHOTOS: YEN MENG JIIN, SEAT  -  531 words
    • 171 25  -  By Samuel Ee samuelee@sph.com.sg LEATHER is used by carmakers for more than just upholstery. Just ask Maserati and Bentley, both of which have unveiled their latest capsule collections. The Maserati collection continues the marque’s collaboration with luxury fashion house Ermenegildo Zegna, while Bentley’s range of “iconic
      171 words
    • Article, Illustration
      672 25  -  By Samuel Ee samuelee@sph.com.sg IT isn’t every day that a new Volvo will surprise you but then, it isn’t everyday that an S90 is unveiled. The Volvo S90 is a new mid-size sedan that replaces the S80 and it is not only more luxurious but uncharacteristically fun to
      672 words

  • DINING OUT/WINE
    • 926 26  -  VLV has an inviting ambience with a menu that is up to the mark. BY JAIME EE inviting mark.BY JAIME EE jaime@sph.com.sg @JaimeEeBT NEW RESTAURANT VLV 3A River Valley Road Merchant’s Court, #01-02 Tel: 6661-0197 Open daily for lunch and dinner: 12pm to 3pm; 6pm to
      926 words
    • 1066 26  -  By NK Yong IT has been nine years since I was last in Napa Valley 2007, the year before Robert Mondavi died. We had a quiet dinner in his home in Napa, with Margrit, his wife, in the kitchen. Bob was by then in a wheelchair
      SPH FILE PHOTO  -  1,066 words

  • DESIGN/STYLE/FOOD
    • 767 27  -  Over 30 makers are taking part in The Makers’ Festival at The Centrepoint which features a variety of products, interactive sessions and workshops. BY TAY SUAN CHIANG BY TAY SUAN CHIANG T The Makers’ Festival is on till Oct 30 at The Centrepoint. For
      767 words
    • 379 27  -  By Avanti Nim T Tom Ford’s Made-To-Measure services will be available from Nov 4 to 6. For bookings or enquiries, please email TomFordMTM@fjbenjamin. com avantin@sph.com.sg THERE’S really nothing worse than an ill-fit-ting suit and when yours has more creases than a Shar-Pei puppy, you know there’s
      379 words
    • 588 27 AFP Washington THE question has had the Washington restaurant scene buzzing since news in May of the US capital’s first Michelin Guide who will get a coveted star? “Michelin, they’re pretty secretive I don’t think anybody has any idea,” said Aaron Silverman, the 34-year-old
      AFP; PHOTO: AFP  -  588 words
  • Page 27 Miscellaneous
    • 343 27 CRYPTIC CROSSWORD Across 1 Racing driver with puncture making corner (10) 6 Chief from eastern border going the other way (4) 10 Humours daughter during lows (5) 11 No Conservative switches on the radio for such pieces of music (9) 12 Singer so professional must welcome article (7) 13 Pretend
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  • ENTERTAINMENT/REVIEWS
    • 763 28  -  New album Blue Guitar showcases Mark Chan’s musical strengths distilled into catchy pop songs. BY CHRISTOPHER LIM BY CHRISTOPHER LIM T Blue Guitar is now out on CD at Popular, and on iTunes and Spotify VERSATILITY can be hazardous for an artist trying to craft an
      763 words
    • 570 28  -  By Geoffrey Eu SHE made a memorable big screen entrance as a 12-year-old apprentice to a hitman (Leon the Professional, 1994), gained a large chunk of Hollywood fame as Queen Padmé Amidala in a Star Wars trilogy and cemented her acting
      570 words
    • 486 28  -  By Dylan Tan dylantan@sph.com.sg @DylanTanSYBT HE might have handed over his James Bond duties to Daniel Craig, but that doesn’t mean Pierce Brosnan has been lying low. In fact, the 63-year-old seems to be everywhere even more now. Just earlier this month, the
      486 words
    • 748 28  -  By Sherwin Loh sherwinl@sph.com.sg @SherwinLohBT APPLE’S choice to remove the traditional headphone jack from their latest iPhones will probably spur greater interest in the wireless headphone market, so it is quite timely that German audio giant Sennheiser has opted to launch its PXC 550
      748 words

  • ARTS
    • 756 29  -  Some 30 artists revisit the history of the area through their works, with the community there as their target audience. BY CHEAH UI-HOON BY CHEAH UI-HOON uihoon@sph.com.sg T Pop-Up Noise: Soul Searching will run on Oct 21-30, 10am-10pm, at Kreta Ayer Square. For more information, please
      PHOTO: DON WONG; PHOTO: JOSEPH NAIR; PHOTO: MD HARIZ BAKRI  -  756 words
    • 605 29  -  By Helmi Yusof helmi@sph.com.sg @HelmiBT THE thing about the musical Rent is, if you love it, you love it with a passion. And you’re willing to ignore minor production hiccups because the songs sweep you off your feet again and again.
      605 words
    • 591 29  -  By Cheah Ui-Hoon uihoon@sph.com.sg THE dancers did solos, performed as a company and then there were also segments where several of them did their own choreography for the group, to the music of their choice. Theatreworks-commissioned GALA by Jerome Bel looked like a dance,
      PHOTOS: TUCKYS PHOTOGRAPHY  -  591 words

  • BT Lifestyle
    • 745 30  -  Events such as the recent Youth Culinary Competition where young chefs are encouraged to showcase their talents also help the junior members of the craft to socialise and exhange ideas. The four winners of this year’s contest talk about their experiences and award-winning
      PHOTO: JULIANA TAN; PHOTO: SOCIETY OF CHINESE CUISINE CHEFS (SINGAPORE)  -  745 words
    • THE SOCIETY OF CHINESE CUISINE CHEFS (SINGAPORE) – YOUTH CULINARY COMPETITION 2016 WINNERS
      • Article, Illustration
        140 30 Chef Teoh Yong Hui Marina Mandarin Singapore CHEF Teoh Yong Hui may be one of the junior members in the Marina Mandarin Singapore’s kitchen, but it did not stop him from winning the gold award of this year’s competition. Chef Teoh crossed over from the other end of
        PHOTOS: DAVID YIP  -  140 words
      • Article, Illustration
        202 30 Chef Chris Ling Jia Wei Chinese Restaurant CHEF Chris Ling, who loves to eat, has a retired chef as a father; so it seems a natural progression for him to enter the ranks. Chef Ling joined Jia Wei Chinese Restaurant as soon as he arrived in Singapore five
        202 words
      • Article, Illustration
        152 30 Chef Leong Wei Hong Imperial Feast Restaurant CHEF Leong is only 22 but has come a long way to being an award-winning chef with his 5-Coloured Dragon Roll. When he first moved to Singapore from Kluang, he worked in a zhi char restaurant. He was determined to be
        152 words
      • 128 30 Chef Keng Chek Hong Peony Jade Restaurant CHEF Keng came to Singapore in 2007 after helping his uncle at a seafood restaurant in Perak. He spent the first few years learning basic food preparation at the back of the kitchen before being promoted to the wok recently. Influenced
        128 words
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