The Business Times, 4 December 2014

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Microfilm: NL33312
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Lock icon Masthead
    27 1 THE BUSINESS TIMES S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg O n@BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 I Wednesday, October 8, 2014 Thursday, Decem 4
    27 words
  • Article, Illustration
    Lock icon DAILY DIGEST
    229 1 Singapore, whose growth has been hurt in part by slowing trade with the world’s major economies, will stand to gain from the establishment of the Asean Economic Community, says a new study. TOP STORIES 3 Singapore might rank fourth on the latest EMC Global Data Protection Index which
    229 words
  • Article
    Lock icon MARKETS
    27 1 Wednesday Change STI 3,303.39 (-18.93) KL COMP 1,758.15 (-27.82) NIKKEI 225 17,720.43 (+57.21) HANG SENG 23,428.62 (-225.68) SHENZHEN B 999.02 (+6.10) DOW (11am EST) 17,895.38 (+15.83)
    27 words
  • Article
    Lock icon Second market stoppage in a month triggers SGX ‘sorry’ and MAS warning
    1192 1  -  Software defect prompts SGX to delay market opening by 31/2hours while market mulls the hit to confidence in and reputation of the exchange By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore THE second major market disruption in a month on
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      213 1 *****4 A SINGAPORE PERSPECTIVE Fostering a culture of transparency CORPORATE GOVERNANCE PRACTICES 11 REVISION AND REVIEW Closely watched HDB resale price index up for revision STAR POWER Tennis stars raise S$122,000 for charity LIFE CULTURE 28 TOP STORIES 2 UPBEAT SingTel, financials favoured even as global banks shun Singapore market
      213 words
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  • TOP STORIES
    • Article
      Lock icon Closely watched HDB resale price index up for revision
      786 2  -  URA is also reviewing the need to revise its private residential property price index By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore THE Housing and Development Board (HDB) will soon reveal more details on a revised methodology to compute the HDB Resale Price
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    • Article
      Lock icon Lower jet fuel costs to bolster the bottom line of airlines
      712 2  -  Analysts say that hedging may mitigate some of this positive impact By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore THE recent slump in jet fuel prices is expected to help airlines cope with costs a major expenditure for carriers and boost
      712 words
    • Article
      Lock icon Brent rebounds to US$71 but downtrend seen continuing
      331 2 REUTERS London BRENT oil rose to US$71 a barrel on Wednesday in choppy trading as the market searched for a price floor after a near 40 per cent fall since June. Trade in oil has been volatile since the Organization of the
      REUTERS  -  331 words
    • Article
      Lock icon Malaysia’s hard-won fiscal progress falls victim to oil price rout
      392 2  -  By Andy Mukherjee 0$ REUTERS BREAKINGVIEWS Singapore JUST when Malaysia was beginning to plug the holes in its public finances, the prospect of a sharp reduction in oil revenue is threatening to undermine fiscal progress and weaken the currency. Petronas
      *|0$ REUTERS BREAKINGVIEWS  -  392 words
    • Article
      Lock icon Singapore seen gaining from Asean Economic Community
      727 3  -  But report warns that road to grouping’s fruition is fraught with challenges By Michelle Quah michquah@sph.com.sg @MichelleQuahBT Singapore SINGAPORE, whose growth has been hurt in part by slowing trade with the world’s major economies as they continue to mount their recoveries, will stand
      727 words
    • Article
      Lock icon Blackstone finds new asset exit – GIC’s door
      375 3  - Blackstone finds new asset exit GIC’s door By Peter Thal Larsen &SI REUTERS BREAKINGVIEWS Hong Kong BLACKSTONE and GIC have struck a new sort of partnership. The Singaporean wealth fund typically invests in the private equity firm’s funds and alongside them in acquisitions. Their latest deal suggests GIC also is
      &SI REUTERS BREAKINGVIEWS  -  375 words
    • Article
      Lock icon Data loss and downtime cost Singapore firms over US$1b in 12-month span
      482 4  -  Survey finds that 43% of respondents here do not have a disaster recovery plan By Joyce Hooi joyceh@sph.com.sg @JoyceHooiBT Singapore SINGAPORE might rank fourth on the latest EMC Global Data Protection Index which rates “protection readiness”, but data
      482 words
    • Article, Illustration
      Lock icon Year-end spike in big car COE premium
      408 4  -  By Samuel Ee samuelee@sph.com.sg Singapore THE big car premium spiked but the small car premium softened in Wednesday’s bidding exercise for certificates of entitlement (COES) the penultimate tender for the year. Category A, for cars below 1,600cc or 130 hp, slipped S$800 to
      THE STRAITS TIME FILE PHOTO  -  408 words
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      180 words
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      71 words
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      59 words
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      45 words
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  • COMPANIES & MARKETS
    • Article
      Lock icon SGX must get out of its bizzare state of denial
      750 5  -  HOCK LOCK SIEW R SIVANITHY sivan@sph.com.sg @RSivanithyBT THE apology and explicit acceptance of responsibility from Singapore Exchange (SGX) chief executive Magnus Bocker for Wednesday’s computer system breakdown was the first indication in many months that SGX is willing to concede
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    • Article, Illustration
      Lock icon ICE to start Singapore operations with five contracts
      548 5  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore US ENERGY markets operator IntercontinentalExchange (ICE) is launching five futures contracts, including one for Brent and one for gold, when it starts its new exchange and clearing house in Singapore in March. Four of these for
      548 words
    • Article
      Lock icon LionGold to sell remaining stake in Amayapampa Gold Project
      119 5 Singapore LIONGOLD Corp is planning to divest its remaining 10 per cent stake in the Amayapampa Gold Project to Silvermane Investments for S$3.5 million. Located in Bolivia, the Amayapampa Gold project is a high-grade 1.8 million ounce open-pit gold resource which
      119 words
    • Article, Illustration
      Lock icon SingPost unit to buy Australia’s Couriers Please for A$95m
      469 6  -  Parcel delivery firm has a network of 575 franchisees and handled nearly 11 million consignments in FY2014 By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore IN A BID to strengthen its e-commerce logistics capabilities Down Under, Quantium Solutions, a wholly owned subsidiary of
      PHOTO: SINGPOST  -  469 words
    • Article, Illustration
      Lock icon Keppel, Sembcorp take another hit
      411 6  -  HOT STOCK By Malminderjit Singh msingh@sph.com.sg @MalminderjitBT Singapore SINGAPORE’s rigbuilding giants Keppel Corporation and Sembcorp Marine have each lost close to S$2 billion in market capitalisation over a month as oil and gas stocks tumbled on the Singapore Exchange again on Wednesday after a respite
      Source: Bloomberg  -  411 words
    • Article
      Lock icon Nomura to expand e-stock trading service
      317 6 BLOOMBERG Tokyo NOMURA Holdings Inc is expanding an electronic stock trading service that matches buyers and sellers seeking to make large transactions as asset managers switch to Japanese equities. Three Nomura officials will travel to the US in January to meet hedge funds, pension
      BLOOMBERG  -  317 words
    • Article
      Lock icon Broking houses upbeat on Singapore market, citing cheap valuations
      689 7  -  International banks less keen, taking “underweight” stand By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore CITING inexpensive valuations, local broking houses are reasonably upbeat about the Singapore market even as international banks are not too enthused. UOB is targeting the Straits Times Index
      689 words
    • Article
      Lock icon KKR among 3 in final race for NOL’s APL Logistics: report
      389 7  -  By Malminderjit Singh msingh@sph.com.sg @MalminderjitBT Singapore NEPTUNE Orient Lines (NOL) may be one step closer to selling its logistics unit, with the Singapore shipping company reportedly seeking a price of about US$1 billion. According to reports, three companies have
      389 words
    • Article
      Lock icon Russian 10-yr bond yields rise above 11%, rouble volatility at record highs
      315 7 REUTERS London RUSSIAN 10-year rouble bond yields surged above 11 per cent on Wednesday for the first time since 2009 and rouble volatility was at record highs even though apparent central bank action lifted the currency off all-time
      REUTERS  -  315 words
    • Article, Illustration
      Lock icon STI / Catalist
      61 8 STI Catalist Straits Times Index Dec 3,2014 3,303.39 -18.93 (-0.57%) Current streak 1 day Day high 3,335.81 Day low 3,303.39 52-week high 3,374.06 (July 31, 2014) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist index Dec3,2014 752.10 -8.50 (-1.12%) Current streak 1 day Day high 761.17 Day low 749.75
      61 words
    • Article, Illustration
      Lock icon HK reversal hits STI in shortened session
      666 8  -  Trading delay of 3½ hours sends turnover value down to S$875.4m, below the S$1b average of past couple of weeks STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THE suspension of trading until 12.30pm on Wednesday because of a software glitch only delayed the inevitable
      Source: Bloomberg  -  666 words
    • Article
      Lock icon STI STOCKS
      307 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 230 -3 234/230 250 206 6.2 5811.4 CapitaLand 328 +2 332/328 348 268 16.4 2.4 *****.3 CapitaMall Trust 196.5 -1 199/196.5 209 180 5.2 6815.2 CityDev 988 -1 998/988 1118 860 13.4
      307 words
    • Article
      Lock icon MOST ACTIVE
      37 8 VOLUME Advance SCT 106,730,000 IHC 79,702,000 MDR 44,021,000 APAC Strategic 40,636,000 China New Town 38,285,000 Market volume 1,335,287,000 VALUE DBS Grp 70,345,687 Keppel Corp 54,108,970 SingTel 50,209,850 OCBC Bank 48,179,145 UOB 40,881,420 Market value 872,297,000
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    • Article
      Lock icon SGX ETFs
      113 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 336 1904 339/335 343/298 335/336 IS MS India US$ US777 -7 642 781/777 790/541 777/779 97.1 UETF SSE50China 197 +6 628 198/192 198/140 196/197 61.6 DBXT MS SING US$ US129.2 -1 150 129.5/129.2 140.1/119.3
      113 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Dec 3 VALUE CLOSE BT OB/OS -515.00 -194.00 BT CADI -*****.00 -131.00 BT 10-day MA -*****.00 -52.00 FTSE ST Mid Cap 742.62 -0.24 FTSE ST Small Cap 501.28 -2.29 FTSE ST All Share 793.51 -3.80 FTSE ST China Top 187.33 -0.36 FTSE ST China 221.96 -0.95 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 8 STI FTSE ST All-Share FTSE ST All-Share index Dec 3,2014 793.51 -3.80 (-0.48%) Current streak 1 day Day high 799.75 Day low 793.51 52-week high 819.39 (July 31, 2014) 52-week low 722.35 (Feb 5, 2014)
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      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE index Dec 2,2014 1,834.33 -0.16 (-0.01%) Current streak 4 days Day high 1,845.59 Day low 1,831.31 52-week high 1,995.49 (July 3, 2014) 52-week low 1,714.64 (OCt 16, 2014)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 2 7 6 0 0 0 2 7 6 Manufacturing 32 50 32 5 10 13 37 60 45 Commerce 11 20 19 2 6 7 13 26 26 Tpt/Stor/Comms 7 23 11
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 15,097 15,097 78,942 78,942 Manufacturing 187,250 37,800 225,050 101,349 2,237 103,586 Commerce 44,153 35,655 79,808 56,354 1,224 57,578 Tpt/Stor/Comms 85,009 517 85,526 107,593 191 107,784 Finance 16,800 4 16,804 170,547 1 170,548 Construction 28,640 23,020
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    • Article
      Lock icon GAINERS
      79 8 BY CENTS CLOSE UP 52w high/low DBXT E50 US$ 5052 352.4 5.6 5630/4637 DBXT iBoxxSvEu US$ ***** 199.1 0.6 *****/***** DBXT Nifty US$ ***** 183.4 1.0 *****/9759 GLD US$ ***** 127.1 0.8 *****/***** DBXT ASX200 US$ 3763 68.1 1.4 4403/3647 BY PERCENTAGE CLOSE UP 52w high/low KepCorp VTePW*****2 22
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    • Article
      Lock icon LOSERS
      76 8 BY CENTS CLOSE DOWN 52w high/low DBXT AUDBods AU$ ***** -196.6 -0.9 *****/***** DBXT MSMSIA US$ 1375 -90.4 -4.8 1598/1375 JSH USD 3600 -77.3 -1.6 3810/3006 Jardine C&C 4250 -70.0 -1.6 4901/3330 DBXT MSAsExJp US$ 3545 -49.8 -1.1 3808/2802 BY PERCENTAGE CLOSE DOWN 52w high/low Advance SCT 0.1 -50.0
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    • Article
      Lock icon UNUSUAL ACTIVITY
      83 8 VOL CLOSE($) CHANGE Darco Water Tech 100.0 0.038 +0.015 +65.22 Starland 46.0 0.031 -0.007 -18.42 Advance SCT 106,730.0 0.001 -0.001 -50.00 Qingmei 8,341.0 0.015 -0.004 -21.05 CEFC Intl 368.0 0.030 +0.007 +30.44 Jacks Intl 25.0 0.075 +0.009 +13.64 China Yuanbang 247.0 0.070 -0.015 -17.65 Hi-P 3,004.0 0.760 +0.060
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    • BROKERS’ TAKE
      • Article
        Lock icon Singapore Post
        100 8 BUY Dec 3 close: S$1.915 Fair value price: S$2.17 OCBC Investment Research, Dec3 SINGAPORE Post (SingPost) announced on Wednesday morning that its wholly owned subsidiary, Quantium Solutions (Australia), will acquire the entire interest of Couriers Please Holdings from New Zealand Post for A$95 million (~S$105 million). Couriers Please
        100 words
      • Article
        Lock icon Nam Cheong Holdings
        125 8 BUY Dec 3 close: S$0.36 Target price: S$0.61 OSK DMG Research, Dec 2 NAM Cheong dived 16 per cent on Tuesday on news of Petronas cutting its capital expenditure by 15-20 per cent next year. However, the company’s Malaysian-global customer split is now about 25-75, down from
        125 words
      • Article
        Lock icon Mermaid Maritime
        154 8  -  Compiled by Teh Shi Ning BUY Dec 3 close: S$0.295 Target price: s$0.42 Maybank Kim Eng Research, Dec 2 MERMAID said during its post-results briefing on Tuesday that the current oil-price slump is nowhere as severe as the economic crisis of 2008. It has strong exposure to Middle
        154 words
      • Article
        Lock icon CALENDAR
        17 8 DATA I 3.00 am US Federal Reserve Beige Book I 9.30 pm US Initial Jobless Claims
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    • Article
      Lock icon Euro skids as investors bet on more ECB easing
      394 9 CURRENCIES REUTERS London THE euro skidded into a 27-month trough against the US dollar on Wednesday, a day ahead of a crucial European Central Bank (ECB) meeting that may pave the way for more easing measures in the eurozone. The dollar
      REUTERS  -  394 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Dec 3 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.957 5.167 0.679 6.517 52.022 103.379 1.002 9.342 2.893 1.080 85.471 37.547 1.101 9.357 0.818 26.134 27.646 0.537 0.841 Canada 1.045 5.397
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      • Article, Illustration
        Lock icon HANG SENG
        2 9
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 9
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      • Article, Illustration
        Lock icon DOW JONES
        2 9
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 9 Dec 3 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1007 1.1014 0.8403 0.8408 Canadian dollar 1.1498 1.1504 0.8782 0.8778 Euro 1.6207 1.6211 1.2373 1.2375 NZ dollar 1.0191 1.0197 0.7780 0.7784 Sterling pound 2.0483 2.0488 1.5637 1.5640
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Dec 3 S$ Bid Offer 1-month 1.3108 1.3111 2-months 1.3108 1.3112 3-months 1.3109 1.3114 6-months 1.3110 1.3115 Source: OCBC
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      • Article, Illustration
        Lock icon NIKKEI
        1 9
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        371 9 Dec 3 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.15 *****.76 *****.36 Dec14 *****.00 *****.00 *****.00 *****.00 ***** *****9 Mar15 *****.00 *****.00 *****.00 *****.00 946 6132 MSCI TAIWAN INDEX FUTURES SPOT 336.98 341.14 335.67 Dec14 334.70 342.50 334.70 342.50 ***** *****4 Jan15 335.60
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        205 9 Dec 3 Most active Dec 3 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****2 10.3 -0.8 5619 0.1 0 6 DBS MB ePW*****2 16.8 1.3 4700 0.2 1910 4 OCBC Bk MB eCW*****3 8 -1 3650
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 9 In local curr In S$ In US$ dy yr dy yr dy yr Dec 2 Index Change Change Change Change Change Change World Preliminary 1285.6 0.5 8.5 0.5 8.3 0.3 4.4 EAFE Preliminary 1003.3 0.6 4.9 0.2 -0.7 0.0 -4.2 Europe Preliminary 1410.6 0.5 4.1
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 Dec 3 $S Offer Bid 0vernight 0.08 0.05 1-month 0.4375 0.3125 2-months 0.4375 0.3125 3-months 0.4375 0.3125 Overnight mode: 0.15 US$ 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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      • Article
        Lock icon SIBOR
        36 9 Dec 3 (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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      • Article
        Lock icon GOVERNMENT SECURITIES
        63 9 Dec 3 Dec 3 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105.52 5-Year N*****0H 1.625 01-Oct-19 100.91 101.05 100.95 10-Year NY*****H 3.000 01-Sep-24 106.9 107.15 106.95 15-Year NY*****E 2.875 01-Jul-29 103.93 20-Year NZ*****V 3.375 01-Sep-33 109.57 30-Year NA*****N
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        212 9 Dec-2 Price Net change change Last Trade Agricultural Dec-2 CBOT Soybeans (US cents/bu) 995.75 -21.25 -2.09% 14/01/2015 CBOT Soybean Oil (US cents/lb) 31.17 -1.05 -3.26% 12/12/2014 CBOT Wheat (US cents/bu) 605.25 -1.50 -0.25% 12/12/2014 Dec-2 LIFFE Cocoa (£/tonne) 1949.00 -10.00 -0.51% 12/12/2014 LIFFE Coffee (US$/tonne) 2034.00 -29.00 -1.41%
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      • Article
        Lock icon PALM OIL
        57 9 Dec 3 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 14 2116.0 2160.0 2160.0 2110.0 227 1843 Jan 15 2110.0 2184.0 2190.0 2110.0 2450 ***** Feb 15 2102.0 2172.0 2185.0 2102.0 ***** ***** Mar 15 2107.0 2171.0
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      72 6 SHOP THE NEW LUXURY BTLuxe Christmas 2014. In print and on your iPad. Luxury's new guard the names you need to know Noma's Rene Redzepi takes Tokyo Heston Blumenthal goes bionic Shigeru Ban Paper hero Tetsuya Wakuda's Kyoto tour Digital exclusives only in the BTLuxe iPad app Download it free
      72 words
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      31 7 Your entrepreneurial drive is fuelling your success As you navigate your business and fulfil your aspirations, we can help grow and protect 1 sc.com/privatebank Here for good Standard Chartered Private Bank
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  • REAL ESTATE
    • Article
      Lock icon Blackstone seen making US$2b profit from IndCor deal
      420 10 It is selling the warehouse owner to GIC for US$8.1b; transaction is Blackstone’s largest-ever private sale of a property holding BLOOMBERG New York BLACKSTONE Group LP stands to make a profit of more than US$2 billion by selling warehouse owner IndCor Properties
      BLOOMBERG  -  420 words
    • Article
      Lock icon Singapore is retailers’ 3rd most popular Asia-Pac city
      479 10  -  Hong Kong, despite high rents, stays the top choice of brands looking to expand By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore SINGAPORE is among the top three cities in the Asia-Paci-fic that are most popular with international retailers, after Hong Kong and Shanghai,
      479 words
    • Article
      Lock icon Tokyo real estate trading picks up
      544 10 WP Tokyo LARGE-scale trading of real estate, mainly in central Tokyo, has been on the rise thanks to great demand for office space, backed by companies’ earnings recovering. In the first half of fiscal 2014 from April to September major real estate trades nationwide
      WP  -  544 words
    • Article
      Lock icon Jailed owner tries to mortgage iconic hotels
      635 12 BLOOMBERG Mumbai SAHARA India Pariwar, an Indian financial-services group, sought court permission to mortgage New York’s Plaza and London’s Grosvenor House hotels as it tries to pay the 100-billion-rupee (S$2.12 billion) bail on its owner, Subrata Roy. Mortgaging the two hotels, plus New
      BLOOMBERG  -  635 words
    • Article, Illustration
      Lock icon Buyers bet on record corporate travel to snap up resort hotels
      912 12 Luxury resorts are back in demand as investors take advantage of the economic rebound and higher business spending BLOOMBERG Los Angeles AT the Four Seasons resort in Scottsdale, Arizona, corporate customers crowd meeting rooms and bars as vacationers take
      BLOOMBERG; PHOTO: BLOOMBERG  -  912 words
    • Article, Illustration
      Lock icon India eases FDI rules for construction sector
      145 12 REUTERS New Delhi INDIA has eased foreign direct investment (FDI) rules for the construction sector, the government said in a statement on Wednesday, in a move to attract more money into the country to build new hotels, housing and townships. Under the new
      REUTERS; PHOTO: AFP  -  145 words
    • Article
      Lock icon A busy 2015 in deals seen for German property firms
      374 13 Patrizia may sell shares for the first time in GBW Gruppe amid growing investor demand for real estate shares, says Victoria Partners EYE ON EUROPE BLOOMBERG Berlin GERMAN property companies such as Patrizia Immobilien AG and Deutsche Office AG may
      BLOOMBERG  -  374 words
    • Article, Illustration
      Lock icon Poland facing office space glut
      221 13 BLOOMBERG Warsaw POLAND’S commercial property market faces “growing imbalances” as developers add new projects even as supply outstrips demand, the central bank said. Commercial real estate prices in Poland continued to decline “slowly” in the third quarter, while the vacancy rate in rented office space
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      Lock icon UK district wins bid to limit basement sizes
      172 13 BLOOMBERG London THE Royal Borough of Kensington Chelsea won backing from the UK government to limit the size of basement extensions after a boom in construction projects by wealthy property buyers sparked complaints. Basements will be limited to 50 per cent of
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      Lock icon Saudi Star to invest US$100m in Ethiopia rice farm
      937 14 Billionaire owner pumping money to revive project, with focus on building irrigation infrastructure BLOOMBERG Addis Ababa SAUDI Star Agricultural Development, an Ethiopian company owned by billionaire Mohamed al-Amoudi, said it plans to invest US$100 million in a rice farm in western
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      Lock icon Househunt
      1302 14 Property transactions for districts 1 to 28 with contract dates between Oct 22 and Oct 28,2014 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED Marina Bay Residences Apt 28/10/2014 99 1066 2300 2158 Marina Bay Suites Apt
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      386 10 FREEHOLD HOUSES CLOSE TO CENTRAL LONDON WITH GARAGE PARKING 2.5 MILES FROM KENSINGTON HIGH STREET II n m m jlm m t: I EXCLUSIVE VIP EXHIBITION FOR SINGAPORE Private one-to-one meetings with our CEO Monty Nawaz open Monday to Saturday 10am 6.30pm daily Venue: Saffron 611 BukitTimah Road s*****2 (Parking
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  • CORPORATE GOVERNANCE PRACTICES
    • Article, Illustration
      Lock icon Fostering a culture of transparency
      1466 11 Good corporate governance standards alone are not enough to prevent financial scandals. Stakeholders must also actively get involved. BY FRANCIS KAN A SINGAPORE PERSPECTIVE CORPORATE governance rules and standards by themselves are not able to prevent crises of the kind that occurred during the great
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      19 12 20 COLLYER QUAY Excellent Seaview Next to Raffles Place MRT Station 1,744 sq ft GuocoLand Group 6225 7000I6428 7864
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      200 12 FREEHOLD SHOPHOUSE TANJONG KATONG ROAD A 2-storey Corner Conservation Shophouse m BIB Excellent Visibility Enjoys Dual Frontage fromTanjong Katong Rd and Wilkinson Rd Land Area: Approx. 2,026 sf Total Floor Area: Approx. 3,800 sf Zoned ‘Residential with Commercial at I st Storey’, GPR 3.0 Future Amber MRT Station (TE25) is
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      128 12 TANGLIN SHOPPING CENTRE FREEHOLD STRATA COMMERCIAL UNITS FOR SALE i B Exclusive appointment Freehold, District 10 Orchard shopping belt Retail, medical office units Ideal for both owner occupation investment No Additional Buyer's Stamp Duty Foreigners companies are eligible to purchase Strata-titled units ranging 248 sq ft and 3,369 sq ft
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      441 13 SECURE A PRIME PERTH RIVERFRONT APARTMENT WITH VIEWS FOREVER RIVERFRONT APARTMENTS FROM JUST A$390,000 II IT’S rrr'j BIT ec n ■rs Park on Swan is setting a new standard for affordable riverfront apartments, offering more value features than any other project. 115 metres of absolute riverfront on Perth’s magnificent Swan
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  • BANKING & FINANCE
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      163 15 m ACTIVE SYSTEM ENGINEERING k I H f r 1 WE WE DRY Fully Integrated Workers Dormitory 70 TUAS SOUTH AVE 1 Dormitory located next to beautiful Sea front. Integrated facilities include commercial cinema, huge gymnasium, 2 supermarkets, foodcourt catering with wide variety of local food authentic native food of
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  • ENERGY & COMMODITIES
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      Lock icon Southern Europe gets unexpected lift from oil slide
      810 16 Countries in region gain economically from the plummeting price through lower energy costs and increased buying power for consumers BLOOMBERG Berlin THE plunging oil price is giving an unexpected lift to Europe’s crisis-bat-tered southern periphery as decreasing fuel costs help spur demand.
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      Lock icon Fall in cocoa butter prices eases threat to chocolate consumption
      656 16 BLOOMBERG Stockholm AAK AB, the 143-year-old Swedish supplier of fats to the chocolate industry, has said that the recent decline in cocoa butter prices could protect chocolate demand after soaring costs started posing a threat to consumption. “It’s good when
      BLOOMBERG; PHOTO: REUTERS  -  656 words
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      Lock icon Graft schemes widespread in Brazil: former Petrobras exec
      363 16 REUTERS Brasilia A FORMER Petrobras executive at the centre of an alleged multibillion-dol-lar graft scheme involving the state-run oil company said on Tuesday that similar bribery and kickback schemes are prevalent in many Brazilian public-infrastructure projects. The March arrest of the executive,
      REUTERS; PHOTO: AFP  -  363 words
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      Lock icon Oil whipsaw leaves gold investors in a tizzy
      557 16 BLOOMBERG New York OIL is making gold investors crosseyed. Because gold traders often track the cost of oil, which can impact consumer costs and inflation, a whipsaw in crude futures is spurring the biggest price swings for bullion in almost nine months.
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      30 16 MILES TO GO BEFORE INDIA’S CLEAN Is everyoneon boardIndian PM’sClean Indiainitiative? Researcher to CEO GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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      60 16 HOT PROPERTY THE PARC CONDO 1261 sf. 3+1 rm. High flr. Like New!! 100% move-in. MRT. Facilities $4.3k THE PEAK@PEPYS Rd. 4+1 Duplex all ensuite 5500 sf Full sea view Pasir Panjang MRT. $16k neg. PARK WEST 2 2/3 bdrms $4.8k onwa-rds. P/F/furn. Immed PRIVATE APARTMENTS FOR RENT Check this
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  • TECHNOLOGY
    • Article
      Lock icon IBM signs US$1.25b cloud deal with WPP
      480 18 It expects more technology outsourcing contracts from European clients ready to play catch-up after euro crisis REUTERS London IBM is enjoying a wave of major technology outsourcing deals from European customers in the fourth quarter, and the new contract signings are not over
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    • Article
      Lock icon Sony Pictures struggles to recover after cyber attack
      765 18 Government investigators led by the FBI are considering multiple suspects, including North Korea: official REUTERS Boston EIGHT days after a massive cyber attack on Sony Pictures Entertainment, the Hollywood studio was still struggling to restore some systems on Tuesday evening as investigators
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      Lock icon US consumers to get more secure credit card
      1012 18 Retailers, banks to upgrade cards with EMV technology, which has been required in Europe for past decade NYT London ON a recent morning, eager shoppers swarmed around Covent Garden, a 350-year-old former open-air vegetable market in central London whose glass-fronted stores now
      NYT; PHOTO: NYT  -  1,012 words
    • Article
      Lock icon AI could end humanity, warns Hawking
      364 18 AFP London BRITISH theoretical physicist Stephen Hawking has warned that development of artificial intelligence could mean the end of humanity. In an interview with the BBC, the scientist said that such technology could rapidly evolve and overtake mankind, a scenario like that envisaged in
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      1125 19 NOTICE Section 92(8) of the International Business Companies Act 1994 RE: Voluntary Dissolution of CI Investments Ltd (the “Company”) incorporated in Seychelles I, Liew Khee Soon of 35B Mosque Street, Singapore *****3, as the Liquidator of the Company, hereby give notice that the Company was dissolved and struck off the
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      1617 19 NH CERAMICS LTD. (Company Registration Number: *****4544C) (Incorporated in the Republic of Singapore on 2 July 1997) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the Annual General Meeting of the Company will be held at the Dalvey Room, The National University of Singapore Society (NUSS), Kent Ridge
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  • CONSUMER
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      Lock icon UK retailers report first fall in food prices since 2006
      279 20 REUTERS London THE British Retail Consortium said food prices dropped last month for the first time since it started collecting data in December 2006, as a supermarket price war intensified. The BRC, which represents major retailers, said food prices declined
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    • Article
      Lock icon Eat less meat, dairy to slow climate change: study
      394 20 REUTERS Rome MEAT and dairy consumption are rising rapidly across the developing world, and consumers are unaware that their appetite for animal products contributes as much to climate change as exhaust emissions from the transport sector, a new survey shows. Climate-changing
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    • Article
      Lock icon US CEOs are gloomier on spending but more optimistic on hiring: survey
      439 20 They call for temporary tax breaks including R&D credits REUTERS Chicago US chief executive officers are more pessimistic about their spending plans and the outlook for the economy, but are more bullish on their hiring prospects, according to
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    • Article
      Lock icon Swiss chocolatier chief upbeat about cocoa surplus
      278 20 REUTERS Paine, Chile THE world’s biggest maker of industrial chocolate Barry Callebaut said on Tuesday that there will be a global cocoa surplus this year and possibly the next, taking a more bearish perspective than some other forecasters so far. “This year we
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      Lock icon To get Lego’s ‘Frozen’ set for X’mas in US, try Santa’s homeland
      501 20 BLOOMBERG London CHILDREN in the US who ask Santa for a Frozen Lego set won’t find it under the tree this year unless their parents travel to Santa Claus’s homeland to make them happy. Lego A/S, Europe’s biggest
      BLOOMBERG  -  501 words
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      126 20 THE BUSINESS TIMES 50% 80 MAYBANK KIM ENG Invest Asia 2015 ±80 10.01% II ii' ii«* !?Li !1. .r ffll lint 70% i 10 400/c DATE: Saturday, 10 January 2015 VENUE: The Gallery, Grand Hyatt Singapore 10 Scotts Road, Singapore *****1 TIME: 9.30am to 1pm What lies ahead for you,
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  • TRANSPORT
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      Lock icon Europeans agree to build new-generation Ariane 6 rocket
      719 21 Design and funding compromise reached between France and Germany over Ariane 5’s successor AFP Luxembourg EUROPEAN nations announced on Tuesday they would build a new-gen-eration rocket in a multi-billion-euro programme to maintain their grip on the world market for satellite launches. European
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      Lock icon Lufthansa pilots union extends strike action
      461 21 REUTERS Frankfurt DEUTSCHE Lufthansa pilots are going on strike again on Thursday on long-haul and cargo flights. A twoday stoppage on Monday and Tuesday stranded thousands of travellers. The union said in a statement that short and medium-haul flights and those of budget carrier
      REUTERS; PHOTO: AFP  -  461 words
    • Article
      Lock icon US regulator criticises Takata for shirking responsibility over air bags
      627 21 REUTERS Tokyo US vehicle safety regulators said Takata Corp’s response to an order to expand a recall nationwide was “disappointing”, criticising the Japanese car parts supplier for shirking responsibility over its potentially deadly air bags. Takata, at the centre of
      REUTERS  -  627 words
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      Lock icon India fast-tracking submarine upgrade to match China moves
      656 21 REUTERS New Delhi INDIA is speeding up a navy modernisation programme and leaning on its neighbours to curb Chinese submarine activity in the Indian Ocean, as nations in the region become increasingly jittery over Beijing’s growing undersea prowess. Just months after a
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  • GOVERNMENT & ECONOMY
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      Lock icon Osborne closes tax net on multinationals, banks
      582 22  -  UK Chancellor also radically reforms stamp duty on house purchases in his Autumn Statement By Neil Behrmann btworld@sph.com.sg London UK’s Chancellor of the Exchequer George Osborne has closed the tax net on multinationals, shut a significant bank tax loophole and has radically reformed
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    • Article
      Lock icon Q3 productivity revised upwards, but Fed likely to keep rates low
      398 22 LATEST US DATA REUTERS BLOOMBERG Washington US non-farm productivity grew a bit faster than initially thought in the third quarter, while sharp downward revisions to compensation pointed to muted wage inflation that should give the Federal Reserve room to
      REUTERS; BLOOMBERG  -  398 words
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      Lock icon Eurozone risks return to contraction
      592 22 Business activity has grown less than expected in Nov despite heavy discounting REUTERS London THE eurozone economy may face another contraction after business activity grew less than expected in November despite heavy discounting, surveys on Wednesday showed, although Asian readings were more upbeat. Firms across
      REUTERS  -  592 words
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      Lock icon US calls on Europe, Japan to do more for global recovery
      388 22 BLOOMBERG Washington EUROPE and Japan need to play a bigger role in bolstering the disappointing global recovery, US Treasury Undersecretary Nathan Sheets said. “Although we are seeing a strengthening recovery in the United States, the overall performance of the
      BLOOMBERG  -  388 words
    • Article
      Lock icon India to fast-track US investments
      243 22 AFP New Delhi INDIA on Wednesday announced a move to speed up approval for US investments, just weeks after the two countries settled a global trade dispute and President Barack Obama agreed to visit. A new Indian government committee will “identify bottlenecks” faced by US
      AFP  -  243 words
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      Lock icon Occupy Central founders turn themselves in
      612 23 They surrender to the police and are allowed to leave without facing any charges after filling in forms REUTERS Hong Kong LEADERS of Hong Kong’s Occupy Central movement surrendered to the police on Wednesday for their role in democracy protests that the government has
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    • Article
      Lock icon Greek PM denies planning tax hike to satisfy creditors
      380 23 AFP Athens GREEK Prime Minister Antonis Samaris said on Tuesday he had rejected calls from the EU and IMF to raise taxes to satisfy the demands of the country’s bailout programme. Mr Samaris denied reports in the Kathimerini newspaper that his
      AFP  -  380 words
    • Article
      Lock icon China falls 20 spots in global graft perception ranking
      655 23  -  Singapore comes in at No 7, the most highly ranked economy in Asia By Anthony Rowley btworld@sph.com.sg Tokyo CORRUPTION among public officials is a growing problem in Asia and other developing regions, with China sliding especially badly in this regard in
      655 words
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      Lock icon China’s services sector growth up in November
      478 23 REUTERS Beijing CHINA’S services sector grew slightly faster in November, two surveys showed on Wednesday a welcome respite to a run of underwhelming data, but still unlikely to allay concerns about the softening Chinese economy. The encouraging reports about the services sector, which
      REUTERS  -  478 words
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      Lock icon Australia economic growth slows unexpectedly
      597 24 Sliding export prices, rout in global commodity prices take heavy toll on national income REUTERS Sydney AUSTRALIA’S economic growth unexpectedly slowed last quarter as sliding export prices took a heavy toll on national income, and the outlook is even darker given the rout in global
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    • Article
      Lock icon 1MDB to woo investors for unit’s US$3b IPO
      289 24 REUTERS Kuala Lumpur HEAVILY indebted 1 Malaysia Development Bhd is planning meetings in January with potential cornerstone investors for the US$3 billion IPO of its power business 1MDB Energy, said sources familiar with the matter. The initial public offering is aimed at
      REUTERS  -  289 words
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      Lock icon US financial sector risks on the rise
      368 24 AFP Washington LOW interest rates are feeding a surge in excessive risk-tak-ing in more murky corners of the finance industry and leaving markets increasingly on edge, the US Treasury said on Tuesday. With investors pushing ever-harder for better returns through increased leveraging, a
      AFP  -  368 words
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      22 22 www.omy.sg Kids not y|iiii o o g& Here are HWililiNliliU you need to know now. as®! Scan and read more at blog.omy.sg
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      366 22 MR ROBERT C S TAY LEARN THE WINNING STRATEGIES OF INVESTMENT LEGENDS WARREN BUFFETT, BEN GRAHAM, PHILLIP FISHER, PETER LYNCH AND JOHN TEMPLETON! COURSE HIGHLIGHTS To empower participants with the tactical knowledge and expertise in stock valuation, certainly a useful tool in volatile markets. A key focus of the course
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      59 23 fb.com/ComexITShow www.itshow.com.sg 19-22 MAR 2015 SUNTEC Singapore, Levels 3, 4 &6 12pm 9pm FREE ADMISSION FREE ADMISSION Sellyourtechproducts &servicesatSingapore’s LARGEST I.T, digital, mobile consumer electronicsexhibition! Book Your Space NOW! *Limited Booths Available For more information, call *****620 or email to sales@exhibitsinc.com.sg ORGANISED BY: Organiser of IT SHOW, Food and Beverage
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      47 23 REDEFINING IDEAS 4 printpack+sign Singapore's printing, packaging 8k signage business exhibition la Kf r to r > M s Milllilm 29-31 JULY 2015 Marina Bay Sands, Singapore www.PrintPackSign.com Interested to exhibit? Tel: (65) 6848 5938 Email: PrintPackSign@bizlink.com.sg Organised By; BIZLINK Exhibition Services Pte Ltd A SUBSIDIARY OF Sf^l
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      116 24 for our AWARD-WINNING NEWSLETTER! Don’t have much time to read but want to stay on top of the news? Join over 90,000 people who get fresh stories from The Straits Times every day from our free newsletter. The newsletter, ST Daily News, is sent to your e-mail inbox by 7.30am
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  • Article
    Lock icon Shipping times
    987 25 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville Hyundai Bridge 298E 10 Dec 09 Jan 25 Jan 02 Feb 03 Feb 04 Feb 09 Feb 10 Feb 13 Feb 23 Feb 17 Feb Hyundai Bridge
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      188 25 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced shf p maintenance services wanted. Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 <( 4 Celebrate Your Project
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  • OPINION
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      Lock icon Japan’s upcoming election is about more than just “Abenomics”
      528 26 EDITORIAL ALL major policy initiatives in Japan are “on hold” until Dec 14, when a snap election to the Lower House of Parliament will take place. It is all but certain that the present government will remain in power, but what
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      Lock icon Beijing’s self-made islands and the law of the sea
      792 26  -  THE BOTTOM LINE By Frank Ching T The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 ACOUPLE of weeks ago, IHS Jane’s, a leading British publishing company specialising in military topics, reported that China was reclaiming
      792 words
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      Lock icon What Obama could pick up from Wilson
      1223 26  -  One lesson would be in how not to build a new world order the way Wilson did in 1918-1919; another would be in how not to manage his relationships with Republicans. BY HARISH MEHTA BY HARISH MEHTA T The writer, a former BT
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      Lock icon Shipping firms face tax, accounting challenges
      829 27  -  COMMENTARY By Shekaran Krishnan, Goh Siow Hui T The writers are Assurance Partner and Tax Partner respectively, at EY in Singapore. The views here are their own THE seas are turning into a high-stakes battle for market share as container ship carriers enter into
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      Lock icon Releasing India’s telecom sector from its constraints
      995 27  -  By Yogi Aggarwal Bombay INDIA’S booming telecom sector, hampered by lack of adequate radio waves or spectrum for efficient operation, may soon be able to augment services. The bottleneck arose because the defence ministry would not agree to swap the radio spectrum reserved
      995 words
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      Lock icon A self-regulating banking sector is simply untenable
      1299 27  -  Instead of creating consumer appeal, bank brands have overwhelmingly created almost universal consumer contempt. BY JOSEPH BALADI contempt.BY JOSEPH BALADI T The writer is the author of “The Brutal Truth About Asian Branding” and can be reached at jbaladi@brandasian.com TO EVEN suggest to
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon Tennis stars raise S$122,000 for charity
      569 28  -  IPTL participants hit rallies with 120 tennis fans who had pledged at least S$100, with the donations going to the building fund of Rainbow Centre By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THREE of the top tennis players in town for the inaugural Coca-Cola International
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    • Article
      Lock icon Tokyo retains gourmet crown with most starred restaurants
      456 28 REUTERS Tokyo TOKYO kept its crown as the Michelin guide’s gourmet capital on Tuesday with the most starred restaurants for an eight straight year, in the first guide released since Unesco listed Japanese washoku (traditional) cuisine an “intangible cultural heritage”. Among the
      REUTERS  -  456 words
    • Article
      Lock icon Patricia Barbizet to be Christie’s first woman CEO
      711 28 Steven Murphy leaves at the end of the year; Sotheby’s head also announces resignation BLOOMBERG New York CHRISTIE’S International plc, the world’s largest auction house by sales, named Patricia Barbizet its first woman chief executive officer as it announced that Steven Murphy
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      Lock icon Indian art has a long way to go even as China takes the big leap: Christie’s official
      469 28 REUTERS New Delhi INDIA is falling behind China as an emerging powerhouse on the global art scene because it rarely turns up at international art fairs or invests in new museums to promote
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  • Page 28 Miscellaneous
    • Miscellaneous
      Lock icon Page 28 Miscellaneous Column 1
      329 28 CRYPTIC CROSSWORD Across 1 River Test providing business (10) 6 Stubborn dirt without ‘Finish’ (4) 9 Blouse largely restricts bird (5) 10 Queen maybe finished with energy in evidence (9) 12 Some stars will take a time to give speech (7) 13 Goes over records (5) 15 Tighten up, possibly
      329 words