The Business Times, 14 October 2014

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Total Pages: 40
1 40 The Business Times
  • 29 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg O n@BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 ICA (P) Wednesday, October 8, Tuesday, October 14, 2014G
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  • Article, Illustration
    222 1 Malaysia’s Budget seems to have mostly elicited yawns, even though Putrajaya’s assumption about a rise in oil prices sparked talk that this could hurt the economy if global prices continue declining.TOP STORIES 2 Singapore’s CPF scheme continues to be the best retirement system in Asia, although adequacy or
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  • 26 1 Monday Change STI 3,202.15 -21.72 KL COMP 1,797.20 -11.68 NIKKEI 225 15,300.55 -178.38 HANG SENG 23,143.38 +54.84 SHENZHEN B 964.53 -9.31 DOW(noon EDT) 16,526.38 -17.72
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  • 610 1  -  Exports swell 15.3%, imports up 7%; but concerns remain about domestic demand By Virginie Mangin btworld@sph.com.sg Beijing CHINA’S exports jumped by double digits in September, but there was no burst of enthusiasm from analysts still concerned about the country’s anaemic domestic demand.
    PHOTO: AFP  -  610 words
  • 676 1  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore A MATERIALS science start-up from the Nanyang Technological University (NTU) has developed ultra-fast charging lithium ion batteries, potentially affecting a global market of rechargeable batteries tipped to be worth some US$23.4 billion in
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  • Page 1 Advertisements
    • 226 1 *****4 US ECONOMY SHELL IN SINGAPORE Nobel laureate Joseph Stiglitz gives his prognosis PROPERTY FUNDS Huge wave of fund expiries ahead more than market can absorb: CBRE Interview with outgoing chairman MACRO INSIGHTS 19 FOCUS TOP STORIES 4 A winner from ship to shore DBS ASIAN LEADERS INSIGHTS 13 REAL
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  • TOP STORIES
    • 625 2  -  The policy moves announced by Najib were within expectations, though GST revenue level and cash handouts surprised some MALAYSIA BUDGET By S Jayasankaran btworld@sph.com.sg Kuala Lumpur MALAYSIA’S 2015 Budget, tabled before Parliament last Friday by Prime Minister Najib Razak, seems to have mostly elicited yawns,
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    • 490 2  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur MALAYSIA’S contractors are expected to be the key beneficiaries of an additional 20 per cent in development expenditure next year, the budgeted RM50.5 billion (S$19.7 billion) earmarked for the implementation of key infrastructure projects including
      PHOTO: THE STAR  -  490 words
    • 936 4  -  Outgoing chairman says links with the global group spell greater development opportunities for employees in the Republic SHELL IN SINGAPORE Reports by Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore SHELL Singapore is today more integrated than ever with the global group, presenting with it expanded development opportunities for its
      PHOTO: YEN MENG JIIN  -  936 words
    • 542 4 ONE of the most public challenges for Lee Tzu Yang in leading Shell Singapore was undoubtedly the fire at its refinery at Pulau Bukom in September 2011. Mr Lee says: “I hope that’s not what they remember because I think Shell has done
      FILE PHOTO; FILE PHOTO  -  542 words
    • 410 6  -  BT Infographics By Joyce Hooi, Simon Ang COME 2017, the frequency of argy-bargy between buyers and sellers of marine fuel oil might just come down. Then, a mandatory mass flow meter (MFM) system for bunker tankers that supply marine fuel oil will come into effect. This system, which
      Sources: Endress+Hauser, Maritime and Port Authority (MPA) of Singapore; BT Graphics: Joyce Hooi, Simon Ang & Weatherly Tan  -  410 words
    • 445 6  -  With changes recently announced to scheme, Singapore’s score should improve in the coming years By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore SINGAPORE’S Central Provident Fund (CPF) scheme continues to be the best retirement system in Asia, although adequacy or the lack
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    • 432 6 BLOOMBERG AFP Tokyo ANA Holdings and Japan Airlines, Japan’s two largest carriers, cancelled more flights on Monday as typhoon winds disrupted travel for a second week. Typhoon Vongfong prompted ANA to cancel 101 flights, affecting about 16,600 passengers, the airline said. Japan
      BLOOMBERG; AFP; PHOTO: AFP  -  432 words
    • 628 6 EU health ministers to discuss possible screening of travellers from west African countries AFP Manila WORLD Health Organization (WHO) chief Margaret Chan on Monday urged East Asian and Pacific countries to strengthen defences against the Ebola outbreak, warning that the
      AFP  -  628 words
  • Page 2 Advertisements
    • 329 2 v VXP 8 50 r* j r FRANCHISING LICENSING ASIA 2014 Exhibition Conference www.FronchiseLicenseAsia.com 16-18 October 2014 10.30am 6.30pm (Thu Fri) 10.30am 5.30pm (Sat) Marina Bay Sands, Singapore Sands Expo Convention Centre Level 1 Hall B C Invest in proven businesses at the region’s premier franchise trade event! Over 300
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  • Page 4 Advertisements
    • 935 4 CHINA HONGCHENG HOLDINGS LIMITED (Incorporated in Bermuda with limited liability) (Co. Reg. No: *****) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of CHINA HONGCHENG HOLDINGS LIMITED (the “Company”) will be held at Orchid Country Club, Sapphire Suite III IV, 1 Orchid Club Road,
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  • COMPANIES & MARKETS
    • 435 8  -  Deal comes from a joint venture between Brazil’s Odebrecht Oil Gas and Teekay Offshore By Joyce Hooi joyceh@sph.com.sg @JoyceHooiBT Singapore JURONG Shipyard, a wholly owned subsidiary of Sembcorp Marine (Sembmarine), has won a US$696 million deal to convert a shuttle tanker into a floating,
      PHOTO: BLOOMBERG  -  435 words
    • 616 8  -  By Samuel Ee samuelee@sph.com.sg Singapore THE details may be sketchy and the background information not available but if there is one thing observers believe SMRT Corp should not do is bite off more than it can chew. Singapore’s main rail operator on Monday
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    • 199 8 BLOOMBERG Singapore TRANS-CAB Services Pte, Singapore’s second-biggest taxi operator, is preparing an initial public offering in the city that could raise at least S$100 million, people with knowledge of the matter said. The company plans to sell shares by the end of the
      BLOOMBERG  -  199 words
    • 693 10  -  Payout of 1.39 Singapore cents brings full-year distribution to 5.99 cents; annualised yield of 6% based on IPO price By Michelle Quah michquah@sph.com.sg @MichelleQuahBT Singapore SPH Reit, which owns Paragon and The Clementi Mall, reported on Monday distributable income that came
      ST FILE PHOTO  -  693 words
    • 419 10  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore TWO Singapore-listed companies on Monday warned ahead of their earnings announcements that they would be making losses. Ultra-luxury and luxury car distributor EuroSports Global said that based on its preliminary assessment, it expects to report a loss
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    • 661 10  -  By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore AS OSIM International shares get pummelled further away from its nearterm peak of S$2.87 scaled merely 21/2 months ago, the rub, say some market wags, could be related to the firm’s S$170 million convertible bonds which
      Source: Bloomberg  -  661 words
    • 439 10  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore INTERACTIVE touch screen displays that help investors plan their finances and a ceiling-to-floor multi-media wall displaying educational videos in an open setting. This is what customers who visit the United Overseas Bank (UOB) at Suntec City will experience as
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    • 566 12  -  This comes from strong construction orders previously clinched as well as its JVs in property development By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore LIAN Beng Group enjoyed a 58.5 per cent surge in net profit to S$ 11.97 million for its fiscal
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    • 267 12  -  By Joyce Hooi joyceh@sph.com.sg @JoyceHooiBT Singapore KEPPEL Land is moving into the second phase of its SM-KL project in the Philippines a joint venture between Keppel Philippine Properties and Banco de Oro (BDO), the banking arm of the SM Group. This second
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    • Article, Illustration
      63 14 STI Catalist Straits Times index Oct 13,2014 3,202.15 -21.72 (-0.67%) Current streak 2 days Day high 3,217.98 Day low 3,194.29 52-week high 3,374.06 (July 31, 2014) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist index Oct 13,2014 813.08 -17.15 (-2.07%) Current streak 2 days Day high 832.93 Day low
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    • 754 14  -  ST Index ends 21.72 points down at 3,202.15 after hitting an intraday low of 3,194; 396 stocks fall compared to 84 rises STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT ON numerous days this year, the Straits Times Index’s (STI) movements didn’t properly represent that
      Source: Bloomberg  -  754 words
    • 305 14 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 220 -1 221/219 250 206 6.5 5558.7 CapitaLand 303 -4 304/301 348 268 15.2 2.6 ***** CapitaMall Trust 189.5 -2 191.5/189 209 180 5.4 6571 CityDev 916 -13 926/916 1118 860 12.4
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    • 36 14 VOLUME Top Global 133,602,000 IHC 82,121,000 APAC Strategic 51,790,000 Blumont 34,040,000 Mirach Energy 28,229,000 Market volume 1,514,459,000 VALUE DBS Grp 112,740,480 SingTel 63,525,570 Keppel Corp 45,115,546 OCBC Bank 40,385,100 Noble 33,847,465 Market value 966,277,000
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    • 114 14 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 324 -3 246 325/323 343/298 324/325 IS MS India US$ US741 +6 146 741/730 779/541 737/741 92.6 DBXT MSINDO us$ US1370 -5 34 1373/1351 1600/1110 1367/1374 Lyxor Asia US$ US489 -5 30 489/489 543/450
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    • 77 14 Oct 13 VALUE CLOSE BT OB/OS -904.00 -211.00 BT CADI -*****.00 -293.00 BT 10-day MA -*****.00 -91.00 FTSE ST Mid Cap 740.93 -4.92 FTSE ST Small Cap 513.39 -6.44 FTSE ST All Share 775.54 -5.54 FTSE ST China Top 187.08 -2.27 FTSE ST China 219.26 -2.36 FTSE
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    • 35 14 STI FTSE ST All-Share FTSE ST All-Share index Oct 13,2014 775.54 -5.54 (-0.71%) Current streak 2 days Day high 779.24 Day low 774.02 52-week high 819.39 (July 31, 2014) 52-week low 722.35 (Feb 5, 2014)
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    • 33 14 STI MSCI EAFE MSCI EAFE Index Oct 10,2014 1,748.97 -37.24 (-2.08%) Current streak 2 days Day high 1,781.48 Day low 1,748.97 52-week high 1,995.49 (July 3, 2014) 52-week low 1,748.97 (Oct 10, 2014)
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    • 186 14 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 1 12 4 0 0 0 1 12 4 Manufacturing 20 79 34 4 18 6 24 97 40 Commerce 10 33 13 2 11 2 12 44 15 Tpt/Stor/Comms 5 32 4
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    • 121 14 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 24,434 24,434 76,068 76,068 Manufacturing 202,208 56,703 258,911 101,839 3,623 105,462 Commerce 91,590 46,143 137,733 91,618 2,568 94,186 Tpt/Stor/Comms 87,290 8,328 95,618 137,528 1,459 138,986 Finance 34,550 134 34,684 198,608 37 198,645 Construction 163,821 11,119
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    • 80 14 BY CENTS CLOSE UP 52w high/low DBXT iBoxxKR US$ ***** 268.2 1.4 *****/***** GLD US$ ***** 87.7 0.6 *****/***** DBXT S&P Short US$ 2446 63.6 2.1 2847/2304 DBXT iBoxxUSTr US$ ***** 59.7 0.2 *****/***** DBXT MSKorea US$ 5691 52.1 0.7 6735/5650 BY PERCENTAGE CLOSE UP 52w high/low Moya Asia
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    • 82 14 BY CENTS CLOSE UP 52w high/low SPDR DJIA US$ ***** -155.1 -0.7 *****/***** DBXT MSUSA US$ 4792 -94.1 -1.5 5076/4303 Lyxor Idonesia US$ 8587 -87.7 -0.8 9636/6957 DBXT S&P500 US$ 3172 -83.9 -2.0 3373/2863 Lyxor AsiaIT US$ 3522 -73.7 -1.6 3993/3300 BY PERCENTAGE CLOSE DOWN 52w high/low UOB MB
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    • 84 14 VOL CLOSE($) CHANGE Yuexiu Prop 14.0 0.200 -0.065 -24.53 Cheung Woh 900.0 0.178 +0.015 +9.20 Joyas Intl 280.0 0.024 +0.005 +26.32 Jackspeed 333.0 0.060 -0.015 -20.00 St James 1,951.0 0.040 +0.004 +11.11 Techcomp 335.0 0.415 +0.025 +6.41 Darco Water Tech 125.0 0.036 +0.006 +20.00 Lereno Bio-Chem 2,023.0 0.003
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    • BROKERS’ TAKE
      • 169 14 (Singapore) Buy Oct 13 close: S$1.79 Target price: S$2.38 OCBC Investment Research, Oct 13 Recent flash estimates of the URA private residential property price index showed a 0.6 per cent decline in Q3 2014 a fourth consecutive quarter of price decrease cumulating in a 3.8 per cent dip
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      • 85 14 Buy Oct 13 close: S$0.62 Target price: S$0.88 DBS Group Research, Oct 13 Yoma announced that it will be Yum! Brands franchise partner to bring the first KFC restaurant to Myanmar in 2015... We are positive that Myanmar’s close to 6 million urban population would contribute profitably
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      • 166 14  -  Compiled by Joyce Hooi Hold Oct 13 close: S$1.31 Target price: S$1.44 Maybank Kim Eng Research, Oct 13 United Envirotech (UENV) has signed a framework agreement with Chengdu Xingrong to set up a 49:51 JV (joint venture). We believe strategic partnerships with local players are the right
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      • 14 14 DATA I 8.00am Singapore advance GDP estimates I 8.00am Singapore monetary policy statement
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    • 361 15 CURRENCIES BLOOMBERG Sydney THE US dollar declined after Federal Reserve officials said a worldwide slowdown may delay interest-rate increases, damping demand for the US currency. The Bloomberg Dollar Spot Index, a gauge of the greenback against major trading-partner currencies, fell for the first
      BLOOMBERG  -  361 words
    • FOREX RATES
      • 471 15 Oct 13 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.979 5.348 0.689 6.772 53.464 106.661 0.936 9.317 2.846 1.110 89.726 39.113 1.110 9.664 0.833 26.547 28.318 0.543 0.873 Canada 1.022 5.464
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      • 155 15 Oct 13 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1093 1.1101 0.8728 0.8731 Canadian dollar 1.1333 1.1342 0.8921 0.8917 Euro 1.6107 1.6116 1.2673 1.2676 NZ dollar 0.9993 1.0003 0.7862 0.7868 Sterling pound 2.0444 2.0456 1.6085 1.6089
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      • 22 15 Oct 13 S$ Bid Offer 1-month 1.2710 1.2714 2-months 1.2710 1.2714 3-months 1.2710 1.2715 6-months 1.2709 1.2714 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • 206 15 Most active Oct 13 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****6 8.5 -2.3 ***** 0.2 1880 3 Asia-Pacific Strategic W*****6 3.8 0.1 7014 1 2 55 STI 3300 MB eCW*****1 3.3 -0.5 5861 0.0 2
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      • 373 15 In local curr In S$ In US$ dy yr dy yr dy yr Oct 10 Index Change Change Change Change Change Change World Preliminary 1191.9 -1.0 0.6 -0.9 -0.8 -1.2 -1.7 EAFE Preliminary 921.3 -1.5 -3.7 -1.8 -7.9 -2.1 -8.7 Europe Preliminary 1304.4 -1.5 -3.7
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      • 368 15 Oct 13 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.88 *****.78 *****.83 Dec14 *****.00 *****.00 *****.00 *****.00 *****7 *****0 Mar15 *****.00 *****.00 *****.00 *****.00 32 248 MSCI TAIWAN INDEX FUTURES SPOT 317.62 320.53 316.96 Oct14 319.80 320.30 317.30 317.40 7194 *****6 Nov14 318.60
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    • BANK RATES
      • 167 15 Oct 13 $S Offer Bid 0vernight 0.06 0.03 1-month 0.4375 0.3125 2-months 0.4375 0.3125 3-months 0.4375 0.3125 Overnight mode: 0.08 US$ Offer Bid 7 days 0.18 0.08 1 month 0.25 0.15 2 months 0.30 0.20 3 months 0.40 0.20 6 months 0.50 0.30 9 months 0.60 0.40 12
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      • 36 15 Oct 13 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) 1 mth 0.***** 3 mths 0.***** 6 mths 0.***** Source: Thomson Reuters
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      • 67 15 Oct 13 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 106.09 5-Year N*****0H 1.625 01-Oct-19 100.88 100.95 100.95 10-Year NY*****H 3.000 01-Sep-24 106.42 106.72 106.50 15-Year NY*****E 2.875 01-Jul-29 102.79 103.00 103.00 20-Year NZ*****V 3.375 01-Sep-33 108.66 108.90 108.75
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    • AGRI METALS ENERGY
      • 212 15 Oct-10 Price Net change change Last Trade Agricultural Oct-10 CBOT Soybeans (US cents/bu) 922.50 -19.50 -2.07% 14/11/2014 CBOT Soybean Oil (US cents/lb) 32.28 -0.60 -1.82% 14/10/2014 CBOT Wheat (US cents/bu) 498.50 5.25 1.06% 12/12/2014 Oct-10 LIFFE Cocoa (£/tonne) 2053.00 70.00 3.53% 12/12/2014 LIFFE Coffee (US$/tonne) 2159.00 -22.00 -1.01%
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      • 53 15 Oct 13 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Oct 14 2187.0 848 Nov 14 2196.0 2174.0 2201.0 2170.0 1662 ***** Dec 14 2182.0 2157.0 2192.0 2152.0 ***** ***** Jan 15 2191.0 2165.0 2199.0 2161.0 5535 *****
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  • Page 8 Advertisements
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    • 47 8 LOOK OUT FOR THE INSERT TODAY »E 201* 5*< SINGA CGwEEK SINGAPORE CORPORATE governance week PROGRAMME 31 st OCTOBER 2014 jijj www.sias.org.sg/cgweek2014 siAs th rfnniv* I4« ly The Oaks Cellars Shop Online It's A 'Discovery! OAKS Best Value! 95 Flor de Pingus 2006 www.oaks.com.sg Usual:G£205.00 Now: S$139.00
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  • Page 10 Advertisements
    • 183 10 Grow Your Investment Portfolio in 2015 Lessons From The Legends Don't miss your chance to learn the latest business and investment insights from leading authorities and gurus across Asia, New York and Europe. ASIAN Investment Business Outlook 2015 13th November 2014, Thursday Holiday Inn Singapore, Orchard City Centre n Dr
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  • Page 12 Advertisements
    • 3016 12 The Business Times Ik ~T I 1 I /"I I 1 Toll free 1800-289-8822 I I Email notices@sph.com.sg I V i www.sphclass.com.sg/notices LONGGHEER jtnssis (Incorporated in Bermuda) (Company Registration Number *****) Notice of Annual General Meeting NOTICE IS HEREBY GIVEN that the Annual General Meeting of LONGGHEER HOLDINGS LIMITED (the
      3,016 words

  • DBS ASIAN LEADERS INSIGHTS
    • 1110 13  -  Riding on the success of its hotel business, Ow Chio Kiat’s Stamford Land has more recently expanded into building apartments and offices in Australia and New Zealand. BY FRANCIS KAN Zealand.BY FRANCIS KAN HAVINGestab-lished Stamford Land Corporation as a key player in the Australian
      FILE PHOTO  -  1,110 words
  • Page 13 Advertisements
    • 5 13 DBS Asian Leaders Insights by
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    • 90 13 A- ks (aJ'AK vs k_ j oo X i s uM J^k Lim Say Boon Chief Investment Officer DBS Private Bank Best Private Bank, Singapore 2014, Euromoney, FinanceAsia and The Asset Best Private Bank, Singapore 2013, Professional Wealth Management/The Banker Start a conversation with us at +65 6227 7188. www.dbs.com/privatebank
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  • REAL ESTATE
    • 652 16  -  Liquidity from disposal of the 50 Asia-Pacific funds will be more than the market can absorb: CBRE By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore AMONG the 84 Asia-Pacific real estate funds expiring between 2013 and 2016 is a clutch of 50
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    • 436 16 BLOOMBERG London BRITAIN’s most expensive homes got cheaper this year as more central London mansions and super-prime apartments sported “for sale” signs. The average value of homes sold for at least £10 million (S$20.4 million) in London’s most expensive neighbourhoods
      BLOOMBERG; PHOTO: BLOOMBERG  -  436 words
    • 204 16 Singapore THE Housing Development Board (HDB) has beaten public-sector departments from eight other countries to win an award for service innovation. It was presented the International FutureGov Award 2014 in the ser-vice-innovation category for its efforts to create improved customer experience through service personalisation
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    • 192 16 AFP Beijing US ENTERTAINMENT firm Universal Parks Resorts will invest more than US$3 billion with a Chinese partner to open a movie theme park in Beijing in 2019, the city government and state media said on Monday. The park, which will
      AFP  -  192 words
    • 572 18 Chinese developer’s shares fall as much as 31% after trading resumes; will consider other funding options REUTERS Hong Kong CHINESE developer Agile Property Holdings Ltd, battling an industry slowdown and media speculation about ties to China’s former security chief, said that
      REUTERS; Source: Bloomberg  -  572 words
    • 380 18  - Agile only the worst of the best By John Foley REUTERS BREAKINGVIEWS Beijing AGILE Property is crumbling. The Chinese real estate developer needs urgent financial assistance after the authorities detained its chairman and it had to cancel a US$360 million rights issue. The shares fell by as much as 30
      REUTERS BREAKINGVIEWS  -  380 words
  • Page 16 Advertisements
    • 365 16 Luxury Boutique Hotel Phuket, Thailand DTZ a UGL company Located on Surin Hill, with stunning views of Surin Beach Andaman Sea Excellent location within 30 minutes’ drive to Phuket Airport and Patong Picturesgue property of 48 luxury suites nestled amidst lush greenery Freehold title Sprawling grounds of 16,665.2 sg m
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    • 86 16 For Lease Robinson Point Flexible sizes Fitted /Bare 455 465 617 1155 1820 2123 4141 5640 7556 sqft Great sizes Fitted /Bare 8,288 15,112 15,844 23,400 sqft High floor with unblock view Beautifully fitted/bare units with regular layout Proximity to amenities and ample parking spaces Short distance to four MRT
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    • 177 16 Everything, plus the kitchen sink Select furniture for your home or showcase your merchandise in CLASS 114 To advertise, call the Print Classified Hotline: 1800-289 9988 FOR SALE BY TENDER Address 35 Tuas View Crescent, Singapore *****8 Description A part 1/part 3-storey detached factory Tenure JTC 30 years 30 years
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    • 17 16 Choose from Prime Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Tenders Auctions Notices
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  • Page 18 Advertisements
    • 241 18 L AT) rz <*> <b Wfr B I 0 c Dialler <■/) fie 0 M TO ETOP w r UBS THE BUSINESS TIMES AStt ®L6 OTemasek J U This year’s deserving winners with Mr Alvin Tay, editor of The Business Times (front row, extreme left), Mr. Eddie Gan, Managing Director,
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    • 21 18 LISTEN OUT FOR FINANCIAL RESULTS ANNOUNCEMENT Find out more about a company’s financial performance through The Straits Times Notices. 14/myj jun
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  • MACRO INSIGHTS
    • 1335 19 He says monetary policy isn’t likely to make much difference in the US anyway, and will only raise the cost of capital in emerging markets. BY JAMIE LEE THE state of the US economy does not justify an increase in interest
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  • Page 19 Advertisements
    • 35 19 Bank of Singapore.'Best Private Bank' for three consecutive years. BANKOFSINGAPORE Asia's global private bank Awarded by Asian Private Banker. I r- f At rfeAfc -'9 2011 2012 2013 ■M c A subsidiary of H 0OCBCBank
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  • BANKING & FINANCE
    • 585 20 Pressure has become more acute since the European Central Bank made its deposit rate negative from Sept BLOOMB ERG Frankfurt GERMAN banks are increasingly stuck between rising costs simply to hold customers’ money and demands the deposits pay a return. That pressure
      BLOOMBERG  -  585 words
    • 488 20 BLOOMBERG London LENDERS are loading up on capital to pass the European Central Bank’s bal-ance-sheet exam on Oct 26. Four years from now, some of it will count for nothing. The ECB has spent a year pouring over the books of 130
      BLOOMBERG  -  488 words
    • 559 20  -  By Una Galani &S& REUTERS BREAKINGVIEWS Hong Kong MALAYSIA’S three-way US$26 billion bank deal is far from done. A merger of CIMB Group with two smaller rivals will create the country’s largest bank by assets. Yet, current share prices point to hurdles, including potential
      &S& REUTERS BREAKINGVIEWS  -  559 words
  • Page 20 Advertisements
    • 141 20 BuildTech Asia 2014 s International Building Technology Expo A part of *J) SINGAPORE CONSTRUCTION PRODUCTIVITY WEEK 2014 k 1 U VJ n U i]r Wifi| 14 -16 October 2014 Singapore EXPO Halls 3 4 MAX Atria Key Activities at a Glance i ll J min Hi Y -rsm m tm
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  • ENERGY & COMMODITIES
    • 997 22 Country’s skewed fuel distribution system creates windows for pervasive fraud BLOOMBERG Jakarta IT’S Tuesday morning and about three dozen vehicles are waiting for the fuel truck to arrive at a service station on the island of Belitung, Indonesia. Soon, a steady stream of
      BLOOMBERG  -  997 words
    • 721 22 BLOOMBERG Kuala Lumpur MALAYSIA’S extension of tax-free exports of crude palm oil until the year-end is intended to support prices and curb the build-up of reserves, said Plantation Industries and Commodities Minister Douglas Uggah Embas. “We hope this will continue to
      BLOOMBERG  -  721 words
  • Page 22 Advertisements
    • 1597 22 THE BUSINESS TIMES Ik 1 S 1 Toll free 1800-289-8822 I fl I I Email notices@sph.com.sg J I V i I www.sphclass.com.sg/notices KODA LTD (Company Registration No. *****1299R) (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of KODA
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    • 1900 22 SANTA Kit SANTAK HOLDINGS LIMITED (Company Registration No. *****1065H) (Incorporated in Singapore with limited liability) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Santak Holdings Limited ("the Company") will be held at 31 Senoko South Road, Woodlands East Industrial Estate, Singapore *****4 on
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  • TECHNOLOGY
    • 891 23 ChinaSoft, in which Microsoft has a 5% stake, taps growing demand for cloud services as Beijing pushes hard on information security REUTERS Beijing ALTHOUGH Microsoft Corp is among US technology firms caught up in Chinese security worries and antitrust probes, a local software
      REUTERS  -  891 words
    • 282 23 BLOOMBERG San Francisco SALESFORCE.COM Inc is entering a new business, data analytics and business intelligence, seeking to maintain growth and persuade customers to pour more of their information into its data centres. The company announced Wave, a cloud-based information analytics system, at its
      BLOOMBERG  -  282 words
  • Page 23 Advertisements
    • 219 23 Singapore Capital Expo and Small Cap Showcase 2014 INTRODUCTION FREE ADMISSION Discover Leading and Innovative Growth Companies ShareInvestor, The Business Times Wholesale Investor will bring together up to 1,000 high net worth, accredited, professional and international investors, executives, brokers, fund managers, media and industry participants for the first Singapore Capital
      219 words
    • 186 23 Amundi ranks Top 10 worldwide in the asset management industry -4 ■m m, Earning your confidence through 25 years of sound investment solutions in Singapore. 17 18 19 20 21 22 23 24 25 26 [27] 28 29 30 31 f 'V.---'V’sJ Amundi, your trusted investment partner Meeting your needs
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  • Page 24 Advertisements
    • 2094 24 HUPSTEEL LIMITED (Company Registration No. *****1452D) (Incorporated in Singapore with limited liability) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of HUPSTEEL LIMITED (“the Company”) will be held at 116 Neythal Road Singapore *****3 on Thursday, 30 October 2014 at 3.00 p.m. for the
      2,094 words
    • 1711 24 WILTON RESOURCES CORPORATION LIMITED (Company Registration No. *****0950D) (Incorporated in Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that theAnnual General Meeting (”AGM”) of Wilton Resources Corporation Limited (the “Company”) will be held at Changi Room 3, Level 4, Holiday Inn SingaporeAtrium, 317 Outram Road Singapore *****5, on
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    • 28 24 Blow your own trumpet Buy new musical instruments or put up your old ones for sale in CLASS 72 To advertise, call the Print Classified Hotline: 1800-289 9988
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  • CONSUMER
    • 506 25 BLOOMBERG Atlanta SEARS Holdings Corp’s Kmart discount chain said that it will provide customers with free credit monitoring as it investigates a computer hacker breach detected last week. The retailer’s information technology team identified the breach on Thursday and is working with
      BLOOMBERG  -  506 words
    • 807 25 Its shares gain 3.4% last week as investors consider it a safe haven from recent volatility BLOOMBERG Atlanta COCA-COLA Co shares are hitting record prices for the first time in more than 16 years as investors seeking safety in stable stocks disregard the
      BLOOMBERG  -  807 words
  • Page 25 Advertisements
    • 469 25 Course Objective In the present confusing economic and financial scenario characterized by volatilestock markets and even more volatilestock price movements, you need to have an advantage in stock trading. Technical Analysis will give you that winning advantage in stock transaction timing! Amidst the market uncertainties, it is now an ideal
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    • 131 25 “We would lose a real gem if Kwok Sang ever decides to retire.” Ho Nai Chuen Managing Director, On Cheong Jewellery Chia Kwok Sang, 76 Assistant Manager, Inventory E9k;',.) r A -t ,s S I n X\ Tap into a wealth of experience With years of experience and know-how, older
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  • Page 26 Advertisements
    • 3700 26 m m w Sr mm ess 2014 blog.omy.sg/sgblogawards SHOPPING QUEEN’S HAVEN WfhA&W I (O* 0 3 0 THE BUSINESS TIMES NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.sphclass.com.sg/notices ZHONGXIN FRUIT AND JUICE LIMITED (Incorporated in the Republic of Singapore on 27 September 2002) (Company Registration Number: *****8395H) NOTICE OF ANNUAL GENERAL
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  • TRANSPORT
    • 417 27 BLOOMBERG Washington THE British government has started the sale process of its stake in English Channel tunnel passenger train operator Eurostar International Ltd as it seeks to raise billions of pounds from asset disposals and reduce public debt. Chancellor
      BLOOMBERG  -  417 words
    • 505 27  -  Airline chiefs’ call comes as overcapacity depresses yields of carriers in the region By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore AIRPORTS in the region can do more to help low-cost carriers (LCCs) cope with costs in a challenging environment, said airline heads at
      505 words
  • Page 27 Advertisements
    • 162 27 WORLD’S FINEST SERVICED OFFICES SERVICED OFFICES For the 1-10 person business Fully furnished prestigious offices v Business registration offices available Sea View Offices Available Now; First 3 Months Free on a 6 Month Lease y Dedicated receptionist answering your calls the way you would like Meeting rooms, bilingual secretaries y
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    • 2241 27 The Business Times Ik f 1 Toll free 1800-289-8822 I I I B Email noticesc5Jsph.com.sg I M I B i B j ij www.sphclass.com.sg/notices stEtzLjrtcE*: IPS SECUREX HOLDINGS LIMITED Company Registration No. *****7639H (Incorporated In the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the
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  • Page 28 Advertisements
    • 3532 28 M HOE LEONG CORPORATION LTD. (Company Registration No. *****8433W) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING Unless otherwise defined, all capitalised terms herein shall bear the same meaning ascribed to them in the circular dated 14 October 2014 issued by Hoe Leong Corporation Ltd. (“Circular"). NOTICE
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    • 43 28 Hospitality&TourismConference201 Supermarkets of Taiwan's Ting Hsin Group vandalised with graffiti over oil scandal To subscribe, call 6388-3838 or go to sphsubscription.com.sg bird’s Eye view of tender jobs Check out the most comprehensive collection of tender notices in The Straits Times Notices. 14/myj jun
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  • GOVERNMENT & ECONOMY
    • 431 29 Energy,trade and finance agreements also attest to the strenghtening of ties between the two giants REUTERS MOSCOW RUSSIA and China signed energy, trade and finance agreements on Monday proclaimed by Moscow as proof that a policy turn to Asia is bearing fruit
      REUTERS  -  431 words
    • 467 29 AFP Stockholm FRENCH economist Jean Tirole won the Nobel Economics Prize on Monday, for his analysis of big companies, market power and regulation, the Royal Academy of Sciences said. Mr Tirole, the second Frenchman to be honoured this year, is “one of the
      AFP; PHOTO: REUTERS  -  467 words
    • 322 29 More than 20% of Greeks are unable to afford basic comforts: study REUTERS Athens MORE than 20 per cent of Greeks could not afford basic comforts last year, nearly double the number in 2010 when the country’s debt crisis exploded, data showed on Monday. In
      REUTERS  -  322 words
    • 286 29 REUTERS New Delhi INDIA’S retail inflation declined for a second straight month in September, but the risks of price shocks are expected to keep the central bank from cutting interest rates anytime soon. Consumer prices rose a slower-than-expected 6.46 per cent from a
      REUTERS  -  286 words
    • 897 30 More than half of economists predict QE programme similar to those carried out by the US Fed, Bank of England BLOOMBERG Frankfurt MARIO Draghi’s latest strategy for the euro area is failing to win over economists. More than 60 per cent of the
      BLOOMBERG  -  897 words
    • 751 30 AFP Hong Kong CHAOS erupted in central Hong Kong on Monday as dozens of masked men rushed barricades at the city’s main pro-democracy site, sparking renewed accusations that the authorities are using hired thugs to disperse demonstrators. Groups of men, many
      AFP; PHOTO: BLOOMBERG  -  751 words
    • 486 30  -  By Andrew Stevens Andrew Stevens is a CNN anchor/correspondent based in Hong Kong Hong Kong THE PROTEST movement in Hong Kong has already lasted a lot longer than anyone could have guessed and there's no indication yet that it's running out of steam. Why?
      486 words
    • 340 30 It is just one issue to weigh on rate decision as Britain’s recovery is driven mainly by domestic factors REUTERS London EUROZONE weakness will be only one factor that helps to determine when the Bank of England raises interest rates, Governor Mark
      REUTERS  -  340 words
  • Page 29 Advertisements
    • 2911 29 The Business Times Ik 1 Toll free 1800-289-8822 I I Email notices@sph.com.sg V j B j il www.sphclass.com.sg/notices Lantrovision (S) Ltd (Company Registration Number *****3374R) (Incorporated in the Republic of Singapore on 27 June 1992) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of
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  • 1056 31 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville KMTC Mumbai 1402E 23 Sep 07 Oct 24 Oct 27 Oct 30 Oct 01 Nov 04 Nov 05 Nov 07 Nov 10 Nov 10 Nov 14 Nov
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  • Page 31 Advertisements
    • 33 31 USE THIS SPACE TO SELL CALL JOE WONG AT *****327 TO ADVERTISE The Business Times Shipping times FREIGHT FORWARDER urgently needed by shippers Can they find your services here in the Shipping Times?
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  • S SPECIAL SiTF Awards 2014
    • 624 32  -  The annual SiTF Awards recognises companies that innovate through technology By Hazel Tan HIRTY-EIGHT SiTF Awards winners were lauded for their innovative products and services at this year’s ICM (information, communications and media) industry gala dinner held at the Resorts World Sentosa last Thursday. Started by the Singapore
      624 words
    • 196 32 Singapore General Hospital and integrated Health information System (iHiS) Best Public Sector Product (Gold) “With the SGH Automated Pharmacy Dispensing System (APDS), over 80 per cent of prescriptions are now filled within 30 minutes, and near misses for wrong drug type and strength have dropped by 38.4 per
      PHOTOS: IHiS, SGH, OHANAE, GO!PLACES, SiTF  -  196 words
    • 916 34  -  Primary school pupils and telecommunication firms struck gold with their projects, reports JASMINE OSADA hen Numoni’s chief executive officer Norma Sit (below) first took her company’s Nugen kiosk to potential partners, she found it difficult to convince them that the device was a solution worth adopting.
      PHOTOS: SINGTEL, MGS, NUMONI, ITE COLLEGE EAST, POWER AUTOMATION  -  916 words
    • 982 35 The SiTF Awards 2014 has grown in strength, thanks to strong support from sponsors and partners, reports HAZEL TAN ELEBRATING innovation, promoting emerging technologies, and giving back to the community are some reasons why some companies continue to give their support to the Singapore infocomm Technology Federation (SiTF)
      PHOTOS: BT GLOBAL SERVICES, SAP, ST ELECTRONICS (INFO-SOFTWARE SYSTEMS), STARHUB  -  982 words
  • Page 32 Advertisements
    • 124 32 Creating Business Value Together. m.' A Partnership That Makes Innovation I Work for You Success comes from the ability to create the right links between opportunity, people and technology. With StarHub, you’ll find a collaborator, a pioneer and a co-creator. Our partnerships have resulted in solutions that drive businesses forward.
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  • Page 34 Advertisements
    • 83 34 RUN without growing pains. What if you could double in size without doubling In complexity? With SAP ERP solutions, small and midsize companies gain unprecedented visibility across their entire operations, from managing sales, costs and inventory, to boosting efficiencies and Improving collaboration. This Isn't just about better business processes. It’s
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    • 193 34 Hrvch k wi«?i CREATED BY SINGTEL AND STANDARD CHARTERED LLv UPDATE AVAILABLE ..III SingTel 4:20 PM mCash Balance *C.OO MONEY'S GETTING AN UPDATE. Meet Dash. It's the new money. Money made simpler, smarter, and more personal. It's a whole new way to pay friends in a swipe and over 20,000
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  • Page 35 Advertisements
    • 59 35 v a 0 i There’s an art to connecting your business, people and customers. A vision for change. Tools for the job. Expertise to help you make it real. Together we can creatively use technology, so you can deliver stunning business outcomes. That’s the art of connecting. Discover how BT
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    • 130 35 *a t i MM ST je§P*^iP I IUMMMIMMI ••••••••••••••••A Ml MMMMIMMI ii ms*- MIMMMMM F O I MM Ml MMM M >1 With over 25 years of experience in designing, implementing and maintaining mission critical Command, Control, Communications Intelligence (C4I) systems, ST Electronics (Info-Software Systems) has built up an extensive
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  • OPINION
    • 507 36 DYSTOPIAN fiction depicting a future world in which society is headed towards oblivion, devastated by wars, natural disasters and plagues, has been in vogue in recent years. EDITORIAL So it may not be surprising that the recent outbreak of the Ebola virus
      507 words
    • 856 36  -  THE BOTTOM LINE By David Mason T The writer, a business communications consultant in the UK, was a Price Waterhouse Singapore partner for 18 years in the 1980s and 1990s THE UK has recently been shocked by disclosures of accounting irregularities at
      856 words
    • 1383 36  -  SoP may require disclosures that could harm a firm’s competitive interests. BY CLARENCE GOH T The writer is research manager at the Institute of Singapore Chartered Accountants IN the corporate setting, the remuneration of chief executive officers (CEOs) and senior executives is typically determined
      PHOTO: REUTERS  -  1,383 words
    • 846 37  -  By Andrew Hammond T The writer is an associate at LSE Ideas at the London School of Economics. He was formerly a UK government special adviser IT is less than a month since the UK’s domestic politics captured world headlines with the landmark
      846 words
    • 519 37  -  By William Pesek LAST week, Japan’s media were exultant over a Nobel Prize in Physics award to three native sons. So it came as a shock when, rather than pop another champagne cork, co-honoree Shuji Nakamura poured cold water
      519 words
    • 1102 37 Short of a political miracle, he doesn’t seem to do much to change electoral reality before or after Nov 5. BY LEON HADAR US MID-TERMS UNLIKE her husband President Barack Obama who receives unfavourable ratings among American voters (Gallup’s recent daily tracking poll puts his job
      PHOTO: BLOOMBERG  -  1,102 words


  • LIFE & CULTURE
    • 501 38 Scholars fear outcome of Warburg Institute’s funding dispute with University of London NYT London THE Warburg Institute here has trained generations of scholars, who liken its library of Renaissance and post-Classical material to an intellectual paradise. Now many scholars fear
      NYT  -  501 words
    • 622 38 AFP Paris A TROUBLED detective hunting a serial killer in rural Louisiana, a chemistry teacher with inoperable lung cancer reinvented as a drugs kingpin, a bisexual woman doing jail time for aiding and abetting her drug mule ex-girlfriend. Hollywood’s David Fincher says
      AFP; PHOTO: AFP  -  622 words
  • Page 38 Advertisements
    • 69 38 Inside Insights There is more to a situation than meets the eye. The new Business Times brings you the insight that comes only from knowing business, sector by sector. When you get the inside view, you will see new perspectives. www.BusinessTimes.com.sg www.facebook.com/TheBusinessTimes follow us ©BTbreakingnews To subscribe, call (65) 6388
      69 words
  • Page 38 Miscellaneous
    • 292 38 CRYPTIC CROSSWORD Across 7 Name a soft extremity (7) 9 Fascinating attraction of good US actress (7) 10 Holding dog with no lead (5) 11 Standard therefore will be touching on ruin of Athens (9) 12 Cinzano two words for it (7,8) 13 Late goal that leads nowhere (4,3) 16
      292 words

  • Page 39 Advertisements
    • 48 39 ss T CEL It SO > MBNUSSS r ARNOLD’S mw-J i Win S$9,200 cash by identifying the five mystery celebrity voices! Tune in now to Kiss92's Maddy, Jason Arnold in the Morning, weekdays 6:00 -10;00am! D facebook.com/kiss92fm 0kiss92fm www.kiss92.sg Download on the V AppStore ANDROID APP ON Google play
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    • 91 39 Impress your clients with a great business address \Otf' 0e& c o'' v" e' V r n > L s Z 1 ar r am m ■SV wwrjb 15 prestigious business addresses across Singapore Singapore Quick and easy to set up Orchard Tampines Junction JTC Summit Flexible terms to suit
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  • SME
    • 952 40  -  Besides expanding geographically, SCI also aims to broaden its franchised lines, particularly in LED division By Suresh Kumar Sarad, Ho Zu Heng T The writers are students from NUS Business School ‘WE ARE obsessed about adding value at the speed of thought,” Vick Aggarwala, president and
      PHOTO: ARTHUR LEE  -  952 words
    • 943 39  -  For many SMEs, the younger executives may be more qualified than the boss to handle the business’ social media presence.BY COMMENTARY presence.BY LEON CK LEONG T The writer is the chief biz dev officer (S-E Asia) of Techsailor, an online social media
      ARTWORK: BT ART  -  943 words
  • Page 40 Advertisements
    • 890 40 ADVERTORIAL Putting people first Organisations must place talent at the centre of what they do in order to thrive, says an award-winning HR consultancy WHILE Singapore enjoys strong economic growth and a high standard of living, the expectations and behaviour of job seekers have also changed significantly. When combined with
      890 words
    • 65 40 Celebrating Singapore´s Enterprising Spirit 2014 This series is part of the Enterprise 50 Educational Project between the E50 partners and the NUS Business School. Supreme Components International was among the winners in 2013. The annual E50 ranking is co-organised by The Business Times and KPMG, sponsored by OCBC Bank, and
      65 words