The Business Times, 27 January 2015

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Total Pages: 24
1 24 The Business Times
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  • Title Section
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    24 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G C ©BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 Tuesday, January 27,2015
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  • DAILY DIGEST
    • Article
      Lock icon Keppel Corp's offer
      25 1 to take Keppel land private has brought into focus other potential privatisation targets among listed property developers in Singapore. TOP STORIES 2
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    • Article
      Lock icon Singapore must avoid
      39 1 a situation in which government policies, especially those that involve financial subsidies for the people, turn into an “auction” during national elections, said Social and Family Development Minister Chan Chun Sing on Monday. TOP STORIES 4
      39 words
    • Article
      Lock icon Shares in Tiger Airways gained
      40 1 six Singapore cents or 23.1 per cent to close at 32 cents on Monday after the budget carrier unveiled a net profit of S$2.19 million for the three months ended Dec 31. COMPANIES MARKETS 5
      40 words
    • Article, Illustration
      Lock icon Singapore Exchange is partnering
      27 1 venture capital and incubation firm Clearbridge Accelerator to develop an equity crowdfunding platform for entrepreneurs and SMEs to raise capital. COMPANIES MARKETS 10
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    • Article
      Lock icon Expectations of worsening market
      32 1 conditions grew stronger in the fourth quarter of 2014 among Singapore real estate developers and the residential outlook remained gloomy, according to a Redas survey. REAL ESTATE /11
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    • Article
      Lock icon Hedge funds have boosted bearish
      23 1 wagers on oil to a four-year high as US supplies grew the most since 2001. ENERGY COMMODITIES 14
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    • Article
      Lock icon Investments from some
      23 1 of the biggest technology companies in the last two weeks have raised an important question: have they gone crazy? TECHNOLOGY/15
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  • Article
    Lock icon MARKETS
    27 1 Monday Change STI 3,398.52 -12.98 KL COMP 1,796.44 -6.64 NIKKEI 225 17,468.52 -43.23 HANG SENG 24,909.90 +59.45 SHENZHEN B 1,073.74 -0.37 Dow (11am EST) 17,673.27 +0.67
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  • Article
    Lock icon Markets bank on Greek pragmatism
    832 1  -  Rally suggests an eventual deal between Greece’s creditors and new anti-austerity coalition govt, but some analysts are less sanguine By Neil Behrmann btworld@sph.com.sg London EUROPEAN markets have virtually shrugged off a likely brinkmanship between Greece’s creditors and the nation’s new anti-austerity coalition government. Within hours
    832 words
  • Article, Illustration
    Lock icon KepLand soars on privatisation bid; KepCorp edges up amid mixed views
    1081 1  -  By Andrea Soh, Lee Meixian sandrea@sph.com.sg leemx@sph.com.sg @AndreaSohBT @LeeMeixianBT Singapore KEPPEL Corp shares opened to a relatively muted market reaction on Monday, while Keppel Land’s shares surged, after the conglomerate unveiled a bid to take its real estate subsidiary
    Source: Bloomberg  -  1,081 words
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      23 1 SINGAPORE ECONOMY Q4 and 2014 GDP growth may be revised higher top stories 3 CREATING VALUE The hidden perils of benchmarking OPINION 20
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      9 1 CHARITY Fly away with an Elphy LIFE CULTURE 22
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  • TOP STORIES
    • Article
      Lock icon Reignited: privatisation chatter on other firms
      1124 2  -  No lack of candidates, but analysts caution it’s a gamble to bet on next target OFFER FOR KEPPEL LAND By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore KEPPEL Corp’s offer to take Keppel Land private has brought into focus other potential privatisation targets among listed property
      1,124 words
    • Article
      Lock icon Better if Keppel has shareholders’ nod for KepLand bid: observers
      442 2  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore EVEN as Keppel Corp embarks on a deal that some see has having a transformational effect for the conglomerate, its shareholders would have no say over the offer to take its real estate subsidiary
      442 words
    • Article, Illustration
      Lock icon Q4 and full-year GDP growth may be revised higher
      686 3  -  Manufacturing in December shrinks less than expected, down 1.9% against consensus estimate of minus 3.4% By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore SINGAPORE’s fourth quarter and 2014 growth estimates for its gross domestic product (GDP) look set to be revised upwards, with
      Source: Economic Development Board  -  686 words
    • Article
      Lock icon How to stop Grexit
      837 3  -  REUTERS BREAKINGVIEWS By Hugo Dixon London SYRIZA’s resounding election victory has pushed Greece closer to quitting the eurozone. But a so-called Grexit is still not the most probable outcome, as the radical left group should be able to cut a deal with its European creditors to
      837 words
    • Article, Illustration
      Lock icon Ministers warn of danger of political one-upmanship
      700 4  -  Parties that promise voters giveaways must say how they would be funded: DPM Teo, Chan Chun Sing By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore SINGAPORE must avoid a situation in which government policies, especially those that involve financial subsidies for the people, turn into
      PHOTO: DESMOND FOO/THE STRAITS TIMES  -  700 words
    • Article, Illustration
      Lock icon NTUC calls for individual training accounts for workers
      415 4  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE labour movement wants every Singaporean worker to have an individual training account so that they can be responsible for their own training needs and career planning. This Skillsave account, mooted by National Trades Union Congress
      415 words
    • Article
      Lock icon S&P expects Petronas to remain resilient
      598 4  -  But the ratings agency says Asia-Pac oil-and-gas players may be downgraded if oil prices continue to languish By Pauline Ng btworld@sph.com.sg Kuala Lumpur STANDARD Poor’s (S&P) has warned of downgrades to the ratings of Asia-Pacific oil and gas players such as Malaysia’s Petronas, should
      598 words
    • Article
      Lock icon Malaysia Airlines website hacked by Lizard Squad
      485 4  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore MALAYSIA Airlines’ (MAS) website was hacked on Monday by hackers known as the Lizard Squad, who later went on to leak a list of flight bookings after the airline tried to assure passengers that user data hadn’t
      485 words
  • Page 2 Advertisements
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      15 2 Brand Your Assets Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your Financial Statements
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      295 words
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      214 3 MBFC TOWER 2 PSA BUILDING SIX BATTERY RD SUNTEC TOWER 3 THE METROPOLIS SINGAPORE’S FINEST SERVICED OFFICES Fully furnished prestigious offices Business registration offices available Dedicated receptionist answering your calls the way you would like Meeting rooms, bilingual secretaries Global IT infrastructure 5 days free at any location across the
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      65 4 ONLINE SALE www.oaks.com.sg Wine, Whisky, Sake, Champagne, Life Style and Wine Accessories Over 500 products available.. Macallan Reflexion Sherry Oak Single Malt 700ml The 1824 Masters Series reflecting the natural colour and beauty of Macallan... Usual: S$1,580.00 Now; S$1,380.00 It's} I 'Discovery The Oaks Cellars Pte Ltd a k s
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Tiger Airways leaps on Q3 profit
      687 5  -  Budget carrier posts S$2.19m gain for Oct-Dec 2014, a reversal from S$118.5m loss a year ago By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore SHARES in Tiger Airways gained six Singapore cents or 23.1 per cent to close at 32 cents on Monday after the budget
      Source: Bloomberg  -  687 words
    • Article
      Lock icon Ten straight weeks of outflow for EM funds
      300 5  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore REFLECTING pessimism over slower growth and risks ahead, emerging market equity funds have suffered its tenth straight week of outflow, with the amount of US$3.2 billion for the week ending Jan 21 bringing the cumulative total
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    • Article, Illustration
      Lock icon OUE C-Reit beats its DPU forecasts for Q4, FY2014
      540 5  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore BUOYED by higher-than-expected occupancy and rental reversions, OUE Commercial Reit (OUE C-Reit) achieved a distribution per unit (DPU) of 1.44 Singapore cents for the fourth quarter ended Dec 31, 2014, beating its own forecast by
      540 words
    • Article
      Lock icon Local stocks: Is the glass half full or half empty?
      685 6  -  HOCK LOCK SIEW BY R SIVANITHY sivan@sph.com.sg @RSivanithyBT AN optimist would probably view Keppel Corp’s surprise buyout offer for Keppel Land (KepLand) as indicating a healthy market for corporate activity and, given the generous 25 per cent premium over the
      685 words
    • Article
      Lock icon Ascott to manage three more properties in Beijing, HK
      397 6  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore Singapore THE Ascott, CapitaLand's wholly owned serviced residence business unit, on Monday said it has secured contracts to manage three more properties in Beijing and Hong Kong. In Beijing, Ascott will manage the 208-unit Citadines
      397 words
    • Article
      Lock icon Investors continue pulling out of China ETFs in spite of rally
      284 6  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore EVEN as China’s debt-fuelled market rally continues, overseas investors keep pulling money out of ex-change-traded funds (ETF) tracking the Chinese market. Since the beginning of 2015 through to Jan 23, the total fund
      284 words
    • Article
      Lock icon China Yuanbang shares down 14.7% after chairman quits
      251 6 BLOOMBERG Beijing CHINA Yuanbang Property Holdings Ltd fell by the most in more than two weeks in Singapore trading after saying its chairman is being investigated by Chinese authorities and has resigned. The shares fell 14.7 per cent, the most since Jan
      BLOOMBERG  -  251 words
    • Article
      Lock icon Nico founders sell controlling stake to investor at discount
      245 6  -  By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore THE founding family of Nico Steel Holdings sold a controlling stake to an entrepreneur and private investor, the metal alloy supplier announced on Monday. A limited liability company called ParotTovot on Jan 19 became a
      245 words
    • Article
      Lock icon Viva’s Q4 distributable income 1.6% less than own forecast
      413 6  -  By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore VIVA Industrial Trust said fourthquarter distributable income missed its own forecast by 1.6 per cent as finance expenses were higher than expected. Viva, a Singapore business park and industrial stapled real estate investment trust (Reit)
      413 words
    • Article
      Lock icon Southern Capital gains 81.15% control of UE E&C
      325 6  -  By R Sivanithy sivan@sph.com.sg @RSivanithyBT Singapore ONE day before its offer ends, private equity firm Southern Capital (SC), which is trying to take over and privatise mechanical engineers UE E&C Ltd, on Monday announced that it has managed to secure 81.15 per
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    • Article, Illustration
      Lock icon STI / Catalist
      63 8 STI Catalist Straits Times Index Jan 26,2014 3,398.52 -12.98 (-0.38%) Current streak 1 day Day high 3,409.75 Day low 3,393.24 52-week high 3,411.50 (Jan 23, 2015) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist Index Jan 26,2015 735.08 -2.78 (-0.38%) Current streak 2 days Day high 738.53 Day low
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    • Article, Illustration
      Lock icon Keppel Corp, KepLand dominate trading
      631 8  -  STI down 12.98 points, probably in response to Greek election results STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT EVERY so often a large-scale privatisation offer comes along to inject life into the local stock market, and so it was that Keppel Corp’s bid to take over
      Source: Bloomberg  -  631 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 260 +3 263/255 263 206 5.5 6573.7 CapitaLand 353 -3 358/350 364 268 17.7 2.3 *****.4 CapitaMall Trust 221 cd -4 225/218 226 180 4.9 7664.9 CityDev 1016 -37 1049/1015 1118 860
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    • Article
      Lock icon MOST ACTIVE
      35 8 VOLUME Tigerair 113,876,000 IHC 85,422,100 Armarda 71,165,000 Golden Agri-Res 57,612,100 Keppel Land 43,940,100 Market volume 1,571,345,000 VALUE Keppel Corp 207,931,186 Keppel Land 199,296,450 SingTel 66,760,793 DBS Grp 52,454,942 UOB 43,544,311 Market value 1,489,234,000
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    • Article
      Lock icon SGX ETFs Most Active
      109 8 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS India US$ US805 -5 483 1000/805 1000/541 804/805 100.6 DBXT MSPHILS US$ US223 +5.7 295 223/217.8 223/163.5 222.5/223.3 17.8 Lyxor HSI US$ US311 +1 100 311/311 320/259 309/312 27.1 UETF SSE50China 228 -2 91
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Jan 26 VALUE CLOSE BT OB/OS -19.00 +37.00 BT CADI -*****.00 -48.00 BT 10-day MA -*****.00 -2.00 FTSE ST Mid Cap 789.79 +7.62 FTSE ST Small Cap 503.90 +0.75 FTSE ST All Share 819.60 -1.03 FTSE ST China Top 197.30 +0.47 FTSE ST China 238.40 +1.23 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 Jan 26,2015 819.60 -1.03 (-0.13%) Current streak 1 day Day high 820.95 Day low 818.34 52-week high 820.63 (Jan 23, 2015) 52-week low 722.35 (Feb 5, 2014)
      35 words
    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE Index Jan 23,2014 1,787.71 +7.60 (+0.43%) Current streak 5 days Day high 1,792.44 Day low 1,771.05 52-week high 1,995.49 (Jul 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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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 7 4 5 0 0 0 7 4 5 Manufacturing 40 57 33 5 8 8 45 65 41 Commerce 15 26 20 4 7 5 19 33 25 Tpt/Stor/Comms 14 17 10
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 45,880 45,880 256,905 256,905 Manufacturing 196,817 36,075 232,892 111,883 2,864 114,747 Commerce 85,956 40,079 126,035 68,721 1,727 70,448 Tpt/Stor/Comms 230,143 138 230,281 226,523 41 226,564 Finance 27,869 53 27,922 157,686 12 157,698 Construction 35,103 17,337
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    • Article
      Lock icon GAINERS
      74 8 BY CENTS CLOSE UP 52w high/low SPDR DJIA US$ ***** 448.7 1.9 *****/***** DBXT Nifty US$ ***** 262.0 1.4 *****/9759 DBXT STGLDv US$ 3240 100.8 2.4 3542/3042 Keppel Land 455 90.0 24.7 455/307 DBXT MSTHAI US$ 2138 80.6 2.9 2225/1707 BY PERCENTAGE CLOSE UP 52w high/low OLS W*****5 0.2
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    • Article
      Lock icon LOSERS
      79 8 BY CENTS CLOSE DOWN 52w high/low SPDR S&P500 US$ ***** -263.3 -0.9 *****/***** GLD US$ ***** -196.2 -1.2 *****/***** Lyxor Idonesia US$ 9054 -167.9 -1.4 9636/7347 DBXT E50 US$ 4730 -96.7 -1.5 5630/4562 DBXT iBoxxSing SG$ ***** -55.0 -0.4 *****/***** BY PERCENTAGE CLOSE DOWN 52w high/low Advance SCT 0.1
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    • Article
      Lock icon UNUSUAL ACTIVITY
      82 8 VOL CLOSE($) CHANGE MYP 778.8 0.240 +0.060 +33.33 Keppel Land 43,940.1 4.550 +0.900 +24.66 Tigerair 113,876.0 0.320 +0.060 +23.08 Heatec Jietong 45.2 0.081 -0.019 -19.00 Tigerair 50 308.2 0.310 +0.050 +19.23 Soon Lian 28.0 0.115 +0.014 +13.86 Jiutian Chemical 25,129.9 0.065 +0.003 +4.84 K1 Ventures 11,450.7 0.199 +0.011
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    • BROKERS’ TAKE
      • Article
        Lock icon Keppel Corporation
        111 8 Hold Jan 26 close: S$8.16 Target price: S$8.60 Maybank-Kim Eng Research, Jan 26 KEPPEL Corp aims to privatise 54.6 per cent-owned Keppel Land with an all-cash base offer of S$4.38/share or a higher S$4.60 if it achieves the compulsory acquisition threshold of 90 per cent of its issued
        111 words
      • Article
        Lock icon Property Sector
        113 8 Overweight CIMB Research, Jan 25 SINGAPORE property plays are likely to further benefit from a positive spillover effect from the recently announced KepCorp buyout offer for KepLand. Firstly, the potential cash unlocked from this sale could be rotated into other property stocks. Also, the valuation of 0.88-0.93 times
        113 words
      • Article
        Lock icon Frasers Centrepoint Trust
        227 8  -  Compiled by Jamie Lee Buy Jan 26 close: S$2.06 Target price: S$2.27 OCBC Investment Research, Jan 26 FRASERS Centrepoint Trust (FCT) started FY2015 on a bright note, recording an in-line 10 per cent y-o-y growth in its Q1 FY2015 distribution per unit to 2.75 Singapore cents on
        227 words
    • Article
      Lock icon CALENDAR
      12 8 DATA I 10pm (Jan 27) US S&P Case-Schiller Home Price Index
      12 words
    • Article
      Lock icon Euro sinks briefly to 11-year low vs US dollar
      401 9 CURRENCIES Tokyo THE euro touched an 11 -year low against the US dollar on Monday after anti-austerity party Syriza swept to victory in Greece’s general election, sparking fears of an exit from the eurozone. The common currency was trading at US$1.1174
      401 words
    • FOREX RATES
      • Article, Illustration
        Lock icon HANG SENG
        2 9
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      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Jan 26 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.984 4.945 0.705 6.133 48.657 98.956 0.935 8.549 2.856 1.061 79.781 34.873 1.063 9.040 0.697 24.784 25.764 0.526 0.791 Canada 1.016 5.024
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        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 Jan 26 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0624 1.0637 0.7908 0.7913 Canadian dollar 1.0796 1.0807 0.8039 0.8035 Euro 1.5078 1.5091 1.1223 1.1226 NZ dollar 1.0013 1.0024 0.7453 0.7457 Sterling pound 2.0193 2.0210 1.5030 1.5034
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Jan 26 S$ Bid Offer 1-month 1.3439 1.3449 2-months 1.3443 1.3453 3-months 1.3443 1.3453 6-months 1.3453 1.3464 Source: OCBC
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        Lock icon NIKKEI
        1 9
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES Most active
        211 9 Jan 26 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left OLS Enterprise W*****5 0.2 0.1 9463 1 1 71 3.50 31 Singapore Post MB eCW*****7 3.7 0.5 4856 0.2 215 8 Ezion MB eCW*****2 11.3 -0.1 4743
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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 Jan 23 Index Change Change Change Change Change Change World Preliminary 1290.3 0.4 1.1 0.7 1.6 0.1 0.1 EAFE Preliminary 1014.4 1.3 2.8 1.1 2.2 0.4 0.7 Europe Preliminary 1436.0 1.3 3.9
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        368 9 Jan 26 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.71 *****.94 *****.71 Mar15 *****.00 *****.00 *****.00 *****.00 *****3 *****8 Jun15 *****.00 *****.00 *****.00 *****.00 406 4034 MSCI TAIWAN INDEX FUTURES SPOT 351.09 351.81 349.47 Jan15 351.50 353.40 350.10 351.30 ***** *****0 Feb15 352.00
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    • BANK RATES
      • Article
        Lock icon SIBOR
        36 9 Jan 26 (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 INTERBANK RATES
        154 9 Jan 26 $S Offer Bid 0vernight 0.06 0.05 1-month 0.625 0.50 2-months 0.625 0.50 3-months 0.6875 0.5625 Overnight mode: 0.10 US$ Offer Bid 7 days 0.17 0.07 1 month 0.23 0.13 2 months 0.28 0.18 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 GOVERNMENT SECURITIES
        63 9 Jan 26 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105 5-Year N*****0H 1.625 01-Oct-19 101.47 10-Year NY*****H 3.000 01-Sep-24 109.98 110.10 110.10 15-Year NY*****E 2.875 01-Jul-29 107.85 108.10 107.85 20-Year NZ*****V 3.375 01-Sep-33 115.93 116.45 116.05 30-Year NA*****N
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        254 9 Jan-23 Price Net change change Last Trade Agricultural Jan-23 CBOT Soybeans (US cents/bu) 972.75 -4.00 -0.41% 13/03/2015 CBOT Soybean Oil (US cents/lb) 31.60 -0.37 -1.16% 13/03/2015 CBOT Wheat (US cents/bu) 530.00 -3.75 -0.70% 13/03/2014 Jan-23 LIFFE Cocoa (£/tonne) 1937.00 -24.00 -1.22% 16/03/2015 LIFFE Coffee (US$/tonne) 1903.00 -10.00 -0.52%
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    • Article, Illustration
      Lock icon SGX, Clearbridge to launch equity crowdfunding platform
      566 10  -  It is open only to accredited investors and aims to help growth-stage firms in Asia to raise Series A and B money STARTUPS By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore SINGAPORE Exchange (SGX) is partnering venture capital and incubation firm Clearbridge Accelerator (CBA) to
      PHOTO: YEN MENG JIIN  -  566 words
    • Article
      Lock icon ECF platform: ‘Is S’pore ready to value startups?’
      612 10  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore WHILE an overall positive addition to Singapore’s entrepreneurial and financing landscape, the new equity crowdfunding (ECF) platform proposed by Singapore Exchange (SGX) and venture capital and incubation firm Clearbridge Accelerator on Monday elicited investment and demand
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    • Article
      Lock icon CapitaMalls Malaysia Trust buys Petaling Jaya property
      298 10  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore CAPITAMALLS Malaysia Trust (CMMT) is buying Tropicana City Mall and Tropicana City Office Tower in Petaling Jaya, Selangor, for a purchase consideration of RM540 million (S$201.2 million) through its trustee, AmTrustee Berhad. CapitaMalls Malaysia Reit Management Sdn
      298 words
    • Article
      Lock icon Global ETF market to almost double by 2020: PwC survey
      454 10  -  By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore INDUSTRY professionals mostly expect the global exchange traded fund (ETF) market to almost double to about US$5 trillion by 2020, according to a PwC survey. Asia is expected to contribute significantly to that growth,
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      Lock icon Page 5 Advertisements Column 1
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      Lock icon Page 5 Advertisements Column 2
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      70 6 12th edition 19 22 March 2015 Singapore EXPO Hall 6 11am 10pm Daily Participate in Singapore’s MEGA Food Beverage Fair Sell local international food products to over 250,000 visitors during the March school holiday period! Book Your Space NOW! *Limited Booths Available! For more information, call *****620 or email to
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      9 6 klSS92 FM place one in songs great the All
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      793 10 THE BUSINESS TIMES Ik 1 1 Toll free 1800-289-8822 I fl I Email notices@sph.com.sg I V i j L J www.sphclass.com.sg/notices Brand Your Assets Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your Financial Statements IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF
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      168 10 NOTICE TO CREDITORS AND CONTRIBUTORIES OF INTENTION TO APPLY FOR RELEASE PROMPT ENGINEERING CONSULTANTS PTE LTD (IN LIQUIDATION) CO.REG.NO. *****3374M COMPANIES WINDING UP NO. 113/2013 Take notice that I, the undersigned Liquidator of the abovenamed company, intend to apply to Court for my release, dissolution of the Company under Section
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  • REAL ESTATE
    • Article, Illustration
      Lock icon China property funding dries up as trusts exit
      840 11 Default risks at developers expected to rise this year given huge amount of property trust products coming due BLOOMBERG Shanghai CHINA’S investment trusts are pulling financing for the real estate industry as Kaisa Group Holdings Ltd’s missed payments heighten default concerns. Issuance
      BLOOMBERG; PHOTO: REUTERS  -  840 words
    • Article
      Lock icon Developer sentiment worsens further
      507 11  -  NUS-Redas Real Estate Sentiment Index shows overall market sentiment in S’pore fell to 3.4 in Q4 from 3.7 in Q3 By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore EXPECTATIONS of worsening property market conditions grew stronger in the fourth quarter of 2014 among Singapore real estate developers and
      507 words
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      Lock icon Stronger Swiss franc hurting landlords
      942 12 Office vacancies expected to rise further in the next two years as foreign companies find rental rates expensive, say analysts BLOOMBERG Berlin WHEN Swiss Life Holding AG bought an office building in Geneva earlier this month for 535 million Swiss francs (S$804 million), it set
      BLOOMBERG; PHOTO: BLOOMBERG  -  942 words
    • Article
      Lock icon Wanda to invest US$1b in Sydney property development
      281 12 REUTERS Hong Kong DALIAN Wanda Group, China’s biggest commercial real estate conglomerate, said on Monday it is investing US$1 billion in a prime property development close to Sydney Harbour, its second large investment in Australia. The amount includes A$415 million (S$441 million)
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      Lock icon Abu Dhabi property price rise stalls amid oil rout
      304 12 REUTERS Dubai PROPERTY prices in Abu Dhabi were flat in the fourth quarter of 2014 due to a fall in oil prices and equities markets and weaker investor sentiment, consultants JLL said in a report on Monday. Like nearby Dubai, Abu
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      453 11 Launching North London’s new landmark address A unique collection of luxury suites, 1 and 2 bedroom apartments by St James Transforming Hornsey, London N8 with 270 new private apartments and a Sainsbury’s store A collection of highly specified suites, 1 and 2 bedroom apartments Luxury amenities including concierge, gym, private
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      334 12 FOR SALE BY TENDER Prime Freehold Site in Kuala Lumpur, Malaysia Rare Sizeable Commercial Redevelopment site in KL CBD Located at junction of Jalan Tuanku Abdul Rahman Jalan DangWangi Land area of approximately I 1,773.963 sq m 126,734 sq ft Zoned “Commercial" with permissible plot ratio 1:8 Within 600 metres
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      264 12 Rare 60-year Leasehold Tenure For Sale Brand New Ramp Up Building (d Aljunied I. m s r>= 7-Storey Light Industrial Building 2-minutes’ walk to Aljunied MRT Station Excellent Dual frontage along Aljunied Road Sims Drive Direct vehicular access to all units Land Area: approx. 67,944 sq ft Gross Floor Area:
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      114 12 Brand New Light Industrial off Raya Lebar i I S I ,ilS« For Lease m 00 Excellent location, 5-min walk to Raya Lebar MRT Surrounded by amenities 8 Good loading facilities. Floor load 15KN High electrical supply Australian Property Finance Have you recently bought an Australian property and need a
      114 words
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon China bull market masks momentum breakdown
      773 13 Many gauges of investor enthusiasm are tumbling; A shares no longer a one-way bet BLOOMBERG Hong Kong JUST below the surface of China’s world-beating equity rally, signs of trouble are emerging. While the Shanghai Composite Index touched a five-year high on Friday after a
      BLOOMBERG; PHOTO: REUTERS  -  773 words
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      Lock icon Deutsche staff reel from ‘Duesselgate’ of restructuring
      823 13 REUTERS Frankfurt DEUTSCHE Bank will remember Thursday, Jan 8 as the start of “Duesselgate”, a nickname born not of wrongdoing, but from the shockwaves sent by a speech given in Germany’s former industrial heart. Co-chief executive Juergen Fitschen stood before some 450 staff
      REUTERS; PHOTO: BLOOMBERG  -  823 words
    • Article
      Lock icon Haitong International keen to hire retrenched HK bankers, analysts
      351 13 BLOOMBERG Hong Kong IT’S not all doom and gloom for people who lost their jobs at financial firms in Hong Kong this year. Haitong International Securities Group, a unit of China’s sec-ond-biggest brokerage by market value, is talking to workers in
      BLOOMBERG  -  351 words
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      Lock icon Investment banks seize on higher risk appetites of super rich
      936 13 They help family offices earn a better return amid low interest rates, high fees at funds REUTERS London THE growing ranks of the super rich and their increased appetite for risk have caught the eye of investment bankers. Traditionally focused
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      101 13 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF BATAM VISION PTE LTD (Company Registration No *****2494G) (Incorporated in Singapore) (the “Company”) (IN MEMBERS’ VOLUNTARY LIQUIDATION) NOTICE IS HEREBY GIVEN that pursuant to section 308 of the Companies Act, Cap. 50, the FINAL MEETING of
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  • ENERGY & COMMODITIES
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      Lock icon Hedge funds boost bearish bets on oil to 4-year high
      793 14 No rebound seen amid growing US supplies and no change to Saudi Arabia’s production policy BLOOMBERG New York HEDGE funds boosted bearish wagers on oil to a four-year high as US supplies grew the most since 2001. Money managers increased
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      Lock icon CME starts gold futures in HK
      398 14 BLOOMBERG Singapore CME Group Inc started physically delivered kilobar gold futures in Hong Kong as it joins a slew of other exchanges vying to establish new price benchmarks in the biggest consuming region. The contract listed on the Comex is tied directly to the
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      Lock icon Traders delay Russian gas imports as they expect cheap future deliveries
      734 14 BLOOMBERG London Europe is accelerating withdrawals from natural gas inventories as traders delay imports of Russian fuel poised to fall with oil. The amount of gas taken from storage sites in the 28-nation European Union rose 44 per cent
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      Lock icon British lawmakers demand national moratorium on fracking
      476 14 inquiry warns that process poses uncertain risks to public health, air quality, and water supplies AFP London A COMMITTEE of British lawmakers demanded a national moratorium on fracking due to environmental concerns on Monday, ahead of a crucial vote intended to boost the
      AFP  -  476 words
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  • TECHNOLOGY
    • Article
      Lock icon New investments show huge scale of technology giants’ ambitions
      776 15 Many of these deals are in now-obscure businesses that may turn out to be important in new industrial landscape NYT New York IN the last two weeks, investments from some of the biggest technology companies have raised an important question: have
      NYT  -  776 words
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      Lock icon Big business potential of messaging apps
      1015 15 NYT New York A TEAM at BuzzFeed, the news and entertainment site, knew it had struck gold when it came across a decades-old photo of Dwayne Johnson, the musclebound wrestler and film star known as The Rock, wearing a fanny pack and dated bluejeans.
      NYT; PHOTO: NYT  -  1,015 words
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      Lock icon Safety worries cloud promise of experimental cancer drugs
      743 15 REUTERS New York A NEW wave of experimental cancer drugs that directly recruit the immune system’s powerful T cells are proving to be immensely effective weapons against tumours, potentially transforming the US$100 billion global market for drugs that fight the disease. But
      REUTERS  -  743 words
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      Lock icon China’s online population nears 650m
      165 15 AFP Beijing THE NUMBER of Internet users in China has risen to nearly 650 million, authorities said over the weekend, as the world’s largest online population continues to rise. There were 648 million Internet users in China at the end of 2014, according to the
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  • CONSUMER
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      Lock icon Chinese consumers turn to pricey Japanese rice
      633 16 They fear local alternatives aren’t safe as pollution from industrialisation exacts heavy toll on China’s soil, water REUTERS Shanghai FIRST it was European infant formula, then New Zealand milk. Now Chinese consumers are adding Japanese rice to the list of everyday foods they
      REUTERS  -  633 words
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      Lock icon Russian pullback from Dubai offset by shoppers from elsewhere
      663 16 REUTERS Dubai RUSSIAN shoppers caught in a currency crunch are staying away from the Dubai Shopping Festival (DSF) this year, but visitors from elsewhere look set to make up the numbers at the annual retail bonanza. Every January, Dubai is decked
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      Lock icon Drugmakers race to bring new cholesterol drugs to US market
      477 16 BLOOMBERG New York REGENERON Pharmaceuticals Inc and Sanofi may get a head start on their biggest competitor in bringing a new class of cholesterol drugs to the US market. The US Food and Drug Administration (FDA) has until July 24
      BLOOMBERG  -  477 words
    • Article
      Lock icon Printed retail catalogues make a comeback in the US
      1064 16 NYT New York IN this digital age when filling a shopping cart requires little more than clicking on a screen, the printed retail catalogue keeps vying for a place on the coffee table. From Anthropologie to American Girl, Pottery Barn to
      NYT  -  1,064 words
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      60 16 HOT PROPERTY LAST UNIT! FACE Escalator! Macpherson Mall. F'hold. 710 sqft, No ABSD/ SSD. Good yield! $1.8M ONLY BLK 4 Changi V D/sty well-reno tenanted Face main rd. Good return 999 YRS. PENINSULA shpg ctr. Approx 1300sf. Good investment/ own use. City hall MRT. SHOP SPACES FOR SALE Check this
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  • GOVERNMENT & ECONOMY
    • Article
      Lock icon Japanese firms’ pivot from China towards Asean continues: Jetro
      708 17  -  But economists think that mounting wages and other costs could send more firms back to home base By Anthony Rowley btworld@sph.com.sg Tokyo JAPANESE firms operating in Asia continue to prefer Asean over China when it comes to making new business investments,
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      Lock icon US pledges US$4b for India’s ‘untapped potential’
      876 17 REUTERS AFP New Delhi US PRESIDENT Barack Obama ended a landmark day in India on Monday with a pledge of US$4 billion in investments and loans, seeking to release what he called the “untapped potential” of a business and strategic partnership between the
      REUTERS; AFP; PHOTO: REUTERS  -  876 words
    • Article
      Lock icon Japan sees light at the end of the tunnel for its trade deficit
      625 17  -  By Anthony Rowley btworld@sph.com.sg Tokyo JAPAN suffered a record trade deficit of 12.8 trillion yen (S$ 145 billion) in 2014 as surging energy imports and sluggish exports sent the trade balance into the red for a fourth
      625 words
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      Lock icon Indonesian anti-graft deputy offers to resign
      349 17 REUTERS Jakarta THE deputy chief of Indonesia’s an-ti-graft agency submitted his resignation letter on Monday after being named a police suspect, worsening a two-week long feud between the two rival law enforcement agencies. In his biggest test since taking office in October, President Joko
      REUTERS  -  349 words
    • Article
      Lock icon Cheaper oil, ECB stimulus hopes boost German business sentiment
      224 17 BLOOMBERG AFP Frankfurt GERMAN business confidence rose for a third month as falling energy costs and anticipation of more European Central Bank (ECB) stimulus helped lift optimism about an economic recovery. The Ifo institute’s business climate index, based on a survey
      BLOOMBERG; AFP  -  224 words
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    979 19 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Apia Pago Pago Papeete Rabaul Lae P. Moresby Townsville Hyundai Future 475E 28 Jan 11 Feb 04 Mar 10 Mar 11 Mar 13 Mar 16 Mar 16 Mar 20 Mar 20 Mar 25
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      212 19 USE THIS SPACE TO SELL CALL JOE WONG AT *****327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced ship maintenance services wanted. Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 if 4 Announce Your Corporate Development Come
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  • OPINION
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      Lock icon Obama needs to push harder on trade
      508 20 EDITORIAL US PRESIDENT Barack Obama used the occasion of his State of the Union address last week to promote his global trade agenda and to explain how the proposed trade deals such as the Tran-Pacific Partnership (TPP) with 12 Latin American and Asian
      508 words
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      Lock icon Give Tsipras a chance to end Greece’s nightmare
      828 20  -  THE BOTTOM LINE By Paul Krugman NYT ALEXIS Tsipras, leader of the left-wing Syriza coalition, is about to become prime minister of Greece. He will be the first European leader elected on an explicit promise to challenge the austerity policies that have
      NYT  -  828 words
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      Lock icon The hidden perils of benchmarking
      1113 20  -  Context, culture and internal interactions that create successful outcomes can be difficult to discern and are often impossible to replicate. BY SANJEEV NANAVATI BY SANJEEV NANAVATI T The writer is senior advisor to two leading management consulting companies. Until recently he was the longest-serving CEO
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      Lock icon Greece delivers first rumblings of potential 2015 earthquakes
      967 21  -  COMMENTARY By Andrew Hammond T The writer is associate at LSE IDEAS at the London School of Economics, and a former UK Government special adviser SYRIZA has won the most seats in Sunday’s Greek election, potentially ending decades of two-party rule by
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      Lock icon How to hire people who really are what they say they are
      917 21  -  By Matthew Glasner T The writer is managing director, South Asia Pacific, First Advantage EDUCATION is considered central to human development. It is seen as a tool in eradicating poverty and promoting inclusive and equitable economic growth. The
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      Lock icon Responsible taxation the impact on Singapore’s hub status
      1074 21 As Beps project is still in development stage, it won’t be wise for S’pore to take proactive unilateral steps now which would impact on its competitive position. BY BEN PICKFORD T The writer is tax director of Deloitte Singapore INTERNATIONAL taxation and
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  • LIFE & CULTURE
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      Lock icon Fly away with Elphy for a good cause
      315 22  -  Proceeds from sale of limited-edition cabin trolley luggages go to charity. BY RACHEL LOI BY RACHEL LOI @RachelLoiBT rachloi@sph.com.sg NEED a luggage for your getaway this Chinese New Year? Why not do your part for charity while you’re at it, and stop
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      Lock icon Birdman buoyed in Oscars bellwether
      678 22 AFP Los Angeles DARK comedy Birdman boosted its Oscars hopes after landing the top prize at the 21st Screen Actors Guild Awards, a barometer of likely success at the all-important Academy Awards. The film, about a washed up superhero movie star attempting to revive his
      AFP; PHOTOS: REUTERS  -  678 words
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      Lock icon More women appear at WEF in their own right
      1088 22 BLOOMBERG Paris WHEN Patricia Villela Marino first came to Davos, Switzerland, nine years ago, she’d stay up late to make an online bid to get into the World Economic Forum’s panels. She was accompanying her husband, a Brazilian banker, and there
      BLOOMBERG; PHOTO: AFP  -  1,088 words
  • Page 22 Miscellaneous
    • Miscellaneous
      Lock icon Page 22 Miscellaneous Column 1
      352 22 CRYPTIC CROSSWORD Across 1 Party game in which others may leave you standing (7,6) 10 We yearn for change in 2015 (3,4) 11 Fight and squabble to get the bird (7) 12 Within easy reach, like Scrooge was at first (4) 13 An intriguing little party, part of YMCA ball
      352 words
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      342 23 9 RSM Chio Lim Stone Forest QDBS SME BANKING Welcome 2015 Seminar SG50: Building the Foundation for Home-grown Entrepreneurs for the Next 50 Years The success of Singapore over the last 50 years is largely attributed to its ability to attract MNCs and retain Foreign Direct Investment. The ability to
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  • SME
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      Lock icon Local food firms take to R&D
      1260 24  -  SMEs boost research efforts, collaborate with educational institutes to meet consumers’ evolving palates. BY VIVIEN SHIAO vshiao@sph.com.sg @VivienShiaoBT SINGAPORE is known across the globe for its food, and often referred to as one of the top culinary capitals of the world. With such a
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      Lock icon Creating a good PDPA compliance framework
      874 24  -  Internal auditors can help with advice as well as through independent reviews COMMENTARY By Sia Nam Chie The writer is governor of The Institute of internal Auditors Singapore PRIVATE organisations have had to comply with the Personal Data Protection Act (PDPA) since it came
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      Lock icon Shifting the focus from product to customer
      1077 23  -  Marketing myopia sets in when too much emphasis is placed on products THE VIEW FROM NTU PROFESSORS By Lewis Lim, Wee Chow Hou Dr Lim is associate professor of marketing practice at NTU's Nanyang Business School (NBS) and deputy director of the Institute
      PHOTO: AFP  -  1,077 words