The Business Times, 7 February 2015

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Microfilm: NL33374
Total Pages: 40
1 32 The Business Times
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      71 1 LivingBTTHE BUSINESS TIMES WEEKEND FEBRUARY 7-8, 2015 IT TAKES TWO Couples whose roles and skills complement one another tell how that helps their lifestyle businesses flourish L2-5 BEAUTY K-beauty all grown up L12 DINING New Year treats with a twist L6-7 HEALTH Think twice about that canned drink L13 PHOTO:
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      60 2 / 3 KRALL ENTERTAINMENT PRESENTS FeaturingBurnt Out Punks DUE TO POPULAR DEMAND, WE’VE ADDED MORE SHOWS FROM MARCH 26 MAY 3! BOOK NOW. JUBILEE HALL 2015 ENJOY 2 TICKETS FOR THE PRICE OF 1 FOR THE 12TH 15TH FEBRUARY SHOWS! CODE LOVE VALENTINE’S SPECIAL: Book now at www.sistic.com.sg Tickets also available through
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  • BT Living
    • LIVING
      • Article, Illustration
        Lock icon It takes two
        4532 2 / 3  -  BT Weekend gets into the Valentine’s Day mood by talking to couples whose roles and skills complement one another in making their lifestyle businesses flourish. By Tay Suan Chiang, May Yip and Rachel Loi By Tay Suan Chiang, May Yip, Rachel Loi taysc@sph.com.sg @TaySuanChiangBT rachloi@sph.com.sg @RachelLoiBT Gerald
        PHOTOS: VANDA FINE CLOTHING; PHOTOS: FLUFF BAKERY; PHOTOS: ATOMI; PHOTO: YEN MENG JIIN; PHOTO: JIGGER & PONY AND SUGARHALL; PHOTOS: STALE & CO  -  4,532 words
    • DINING
      • Article, Illustration
        Lock icon NEW YEAR TREATS WITH A TWIST
        1472 6 / 7  -  You have less than two weeks to stock up your Chinese New Year snack trays. Here’s a list to give you a headstart. By Tay Suan Chiang, Rachel Loi And All Things Delicious 462 Crawford Lane #01-61 Z6396 0820 www.andallthingsdelicious.com GOING traditional also means
        PHOTO: YEN MENG JIIN  -  1,472 words
      • Article, Illustration
        Lock icon Mixing drinks and culture
        1686 8 / 9  -  A few new watering holes have sprouted here, and their unique selling point? Their food/drinks highlight a particular country’s culture. By Rachel Loi By Rachel Loi @RachelLoiBT rachloi@sph.com.sg Tapow 19 Ann Siang RoadZ6423-1213 Mon Sat, 5pm till late AMID the European-themed bars and af-ter-work expatriate crowd
        PHOTOS: TAPOW, RACHEL LOI; PHOTOS: IKI SHOUTEN; BUMBO RUM CLUB  -  1,686 words
      • Article
        Lock icon wine&dine
        963 8 / 9 with BTWeekend Atrium Lounge Marina Mandarin Singapore 6 Raffles Boulevard, Level 4 Z6845-1111 Atrium Amour Celebrate the mood of love surrounded by the beauty of one of the largest atriums in South-East Asia with a romantic three-course dinner for two at $188++. Relish in a 1-for-1 Bellini Sparkling Cocktail
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    • TRAVEL
      • Article, Illustration
        Lock icon Europe’s edge of tranquility
        1391 10 / 11  -  Picturesque mediaeval towns, majestic castles and astonishingly good egg tarts await you in Portugal. By Helmi Yusof By Helmi Yusof helmi@sph.com.sg @HelmiBT ~The writer was a guest of Insight Vacations. For more information, visit www.insightvacations.com/asia or call 6922-5950/6922-5978. There is currently a special discount for the
        ALL PHOTOS BY RENEGADE PHOTOGRAPHY  -  1,391 words
    • BEAUTY
      • Article, Illustration
        Lock icon K-beauty all grown up
        726 12  -  Korean cosmetics aren’t all about cutesy packaging and dessert-inspired products. The latest beauty brands target women who are way past their tweens with credible formulations and no-nonsense branding. By May Yip By May Yip IT MIGHT not have a catchy name or starlet of the moment
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      • Article, Illustration
        Lock icon Step it up
        185 12  -  By May Yip Ampoule SUPPOSEDLY more concentrated than regular serums, facial ampoules also come in lighter textures for restorative ingredients to better penetrate deep into your skin. TRY: CNP Cosmetics Propolis Energy Ampoule, S$40.90. Finisher (below) FIRST released in Korea in April 2013, Sulwhasoo was the first
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    • HEALTH
      • Article, Illustration
        Lock icon Think twice about that canned drink
        1236 13  -  Chemica l compound BPA, present in can l i nings, can affect the reproductive, hormonal activities in the body Michael Lim ~Dr Lim is the medical director at Singapore Heart, Stroke Cancer Centre. He is also the founding editor of Heart Asia, a journal
        PHOTO: FREEIMAGES  -  1,236 words
    • MOTORING
      • Article, Illustration
        Lock icon Under the radar
        872 14  -  The Nissan X-Trail seven-seat SUV is good but not great. By CY Chew NOBODY really notices the office boy. The one that quietly goes about delivering the mail, or refilling the water cooler, or maybe even helping you photocopy a stack of documents. The third-generation Nissan X-Trail
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      • Article, Illustration
        Lock icon A NEW CLASSIC
        759 15  -  The Mazda MX-5 gets new styling and technology but stays true to its roadster roots. By Samuel Ee samuelee@sph.com.sg I T was a compact, lightweight and affordable roadster that went on to become an icon. More than 25 years later, the latest version of the Mazda MX-5
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    • GOLF
      • Article, Illustration
        Lock icon Teeing off to new heights
        795 16  -  Lydia Ko is at the top of the women’s professional game at just 17 years old. By Justine Moss GIVEN that Lydia Ko was at the pinnacle of the amateur golfing world at the age of 14, many would have thought that she would make
        PHOTO: HSBC GETTY IMAGES  -  795 words
      • Article, Illustration
        Lock icon Leading ladies on the greens
        352 16 THE eighth edition of the HSBC Women’s Champions (HSBC WC) takes place at Sentosa Golf Club in early March, and the Serapong Course’s fairways will once again be graced with some of the best women golfers in the world. These include newly crowned world No
        PHOTO: HSBC  -  352 words
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  • Title Section
    Lock icon Masthead
    21 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g| g| FEBRUARY 7-8, 2015 S$1.00 MCI (P) 052/08/2014 SfSl A SINGAPORE PRESS HOLDINGS PUBLICATION
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  • Article
    Lock icon 1MDB keeping funds abroad
    27 1 INVESTMENT STATE-owned 1MDB has no plans to repatriate some US$1.103 billion redeemed from its Cayman investments, says the firm’s newly appointed boss. 5
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  • Article
    Lock icon 28 business pioneers win awards
    29 1 HONOURS THEY are presented the SG50 Outstanding Chinese Business Pioneers Awards by the Singapore Chinese Chamber of Commerce Industry at the Ritz Carlton. 6
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  • Article
    Lock icon SIA Q3 profit quadruples
    30 1 CORPORATE BOOSTED by exceptional gains, Singapore Airlines’ fiscal third-quarter net profit surges to S$202.6 million from S$50.1 million for the corresponding quarter a year earlier. 10
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  • Article
    Lock icon Edward Ong on less trodden path
    30 1 PROPERTY TO follow his calling in life, the Singaporean businessman has made decisions that are often unconventional and against the grain of logic. 15
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  • Article, Illustration
    Lock icon SkillsFuture ‘has role in boosting productivity’
    844 1  -  Experts say the drive will protect the workforce’s viability and Singapore’s competitiveness budget 2015 By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore IN the lead-up to Budget 2015, several commentators have weighed in on Singapore’s productivity growth or the lack thereof with prescriptions for improvement centred
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  • Article
    Lock icon Temasek objects to proposed S&P rating criteria
    594 1  -  Framework for investment holding companies would lump Singapore, HK with Greece, Cyprus and Latvia By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore TEMASEK Holdings has raised objections to Standard Poor’s proposed criteria for rating investment holding companies (IHCs), saying that S&P’s stated objectives “are
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  • TOP STORIES
    • Article, Illustration
      Lock icon PM Lee lauds eurozone growth forecasts
      739 2  -  But he says there are “immediate fires” to deal with such as the situation in Greece By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Madrid PRIME Minister Lee Hsien Loong thinks the improved growth forecasts for the eurozone for the next two years is a sign of
      PHOTO: DESMOND FOO/THE STRAITS TIMES  -  739 words
    • MARKETS
      • Article
        Lock icon STOCKS
        58 2 GSTI 3,431.20 (+24.78) GSTI FUTURES 3,430.00 (+25.00) GSIMSCI 384.07 (+2.84) GSIMSCI FUTURES 383.60 (+2.30) Friday Change KL COMP 1,813.25 +10.04 NIKKEI 225 17,648.50 +143.88 HANG SENG 24,679.39 -86.10 SET 1,613.63 +5.71 JAKARTA 5,342.52 +62.62 MANILA 7,728.18 +53.94 KOSPI 1,955.52 +2.68 SHENZHEN B 1,070.54 -11.31 MUMBAI IND 28,717.91 -133.06 11am
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.35 MALAYSIA 6.85 HONG KONG 5.00 INDONESIA 14.732 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.85 SWITZERLAND 0.50 INDIA 14.75 Source: Bloomberg
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      • Article
        Lock icon FOREX
        49 2 US$ S$ US$ (S$ per US$) 1.346 (US$/S$ per 1.532 2.062 EURO (US$/S$/€ 1.145 1.541 Foreign currency per US$ S$ YEN 117.40 87.20 RM 3.551 2.638 HK$ 7.752 5.760 BAHT 32.55 24.19 RUPIAH 12,618 9,375 RENMINBI 6.245 4.640 INDIAN RUPEE 61.78 45.90 A$ 1.277 0.949 NZ$ 1.348 1.001
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    • Article, Illustration
      Lock icon 1MDB’s new boss sets record straight on key niggling issues
      829 5  -  Funds redeemed from Cayman investments won’t be repatriated, he says Reports by Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore MALAYSIA’s state-owned 1Malaysia Development Berhad (1MDB) has no plans to repatriate some US$1.103 billion redeemed from its investments in Cayman Is-lands-registered funds as
      PHOTO: REUTERS  -  829 words
    • Article
      Lock icon 1MDB seen walking away from hard-fought project
      398 5 IN yet another sign of spiralling financial distress, 1Malaysia Development Bhd (1MDB) is set to pull out of the multi-billion-ring-git coal-fired power project in Malaysia that it had fought hard to win in June last year. The Business Times understands that debt-heavy 1MDB
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    • Article, Illustration
      Lock icon 28 business pioneers win awards
      354 6  -  By Prisca Ang prisang@sph.com.sg Singapore IT was a night to honour Chinese business pioneers for their entrepreneurial spirit and contributions to the Singapore economy. Hailing from a range of trades and industries, 28 individuals were presented the SG50 Outstanding Chinese Business Pioneers Awards by the
      PHOTO: LIANHE ZAOBAO  -  354 words
    • Article
      Lock icon No need for a ‘super agency’ to help SMEs: Spring Singapore
      642 6  -  Coordination and collaboration are key, not a single SME authority, says Spring By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore SPRING Singapore dismissed the SME Committee’s recommendation for a single SME authority on Friday, saying the focus should instead be on
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    • Article
      Lock icon BT bags a silver Mob-Ex award
      229 6  -  By Christopher Lim limchris@sph.com.sg @ChrisLimBT @ChrisLimBT Singapore THE Business Times’ 2014 relaunch drew more plaudits on Thursday when the newspaper won a silver in the Most Improved Mobile Activation/App category at the Mob-Ex Awards 2015. The awards recognise brands and companies for excellence in
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      52 2 CONTENTS NEWS Top Stories 2-6 Raffles Conversation 8-9 Companies Markets 10-14 Real Estate 15-16 Banking Finance 17 Energy Commodities 18 Technology 19 Consumer 20 Transport 21 Govt Economy 22-25 Opinion 26-27 Wealth 28-30 LIVING Cover Story L2-5 Dining L6-9 Travel L10-11 Beauty L12 Health L13 Motoring L14-15 Golf L16 Life
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      91 3 BVLGARI.COM v.\ SV v\ V V' ■x\\ v v V \V- \vX X’ v- vv ■A a n; x ..v-> x. \x XX S S x\V V v s* 1 i irsi Sits* B V LG A R I RESORT BALI THE MANSIONS Introducing five magnificent new luxury Mansions for
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      238 5 NOTICE OF MEETING OF CREDITORS IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF SIAG TRADING PTE. LTD. CO. REG. NO. *****2136C Notice is hereby given pursuant to Section 296 of the Companies Act, Chapter 50, that a meeting of the creditors of the abovenamed
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      575 7 ADVERTORIAL As a tribute to the founding year of Maserati, only 1,914 of the chronographs are produced. Luxury redefined THE Maserati is a GT car to die for. It’s so desirable that anything linking to it will be just as seductive. The new Bulgari Octo Maserati chronograph timepiece is specially
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Shopping on his mind
      2196 8 / 9  -  CK Tang chairman Tang Wee Sung is constantly seeking fresh inputs to finetune the service and merchandise at Tangs stores to provide an enjoyable experience for customers. By Tay Suan Chiang By Tay Suan Chiang taysc@sph.com.sg @TaySuanChiangBT HOW does a grand old dame stay desirable in
      YEN MENG JIIN  -  2,196 words
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  • COMPANIES & MARKETS
    • Article
      Lock icon SIA Q3 profit surges on exceptional gains
      742 10  -  Tiger consolidation yields S$119m gain; hedging loss totals S$216m By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore BOOSTED by exceptional gains, Singapore Airlines’ fiscal third-quarter net profit roughly quadrupled to S$202.6 million from S$50.1 million for the corresponding quarter a year earlier. Expectations of a
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    • Article
      Lock icon SingHaiyi’s Q3 hit by absence of development revenue
      329 10  -  By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore SINGHAIYI Group posted a 36.7 per cent drop in earnings for its fiscal third quarter in the absence of year-ago development sales, but rental income was stable. The property development group also explained its new plans
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    • Article
      Lock icon HK$19b impairment hits Q4 bottom line of Hutchison Port trust
      414 10  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore IMPAIRMENT losses dragged Hutchison Port Holdings Trust (HPH Trust) into the red for the fourth quarter ended Dec 31, 2014, marking a net loss of HK$18.6 billion (S$3.2 billion) compared with a net profit
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    • Article
      Lock icon TMC Life buying JB’s Thomson Medical Hub for RM400m
      345 11  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore MALAYSIA-listed TMC Life Sciences, a healthcare operator controlled by Singapore billionaire Peter Lim, has announced plans to buy Thomson Medical Hub in Johor Baru for RM400 million (S$151.2 million). This will be done through the
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    • Article
      Lock icon A-HTrust’s Q3 DPS down
      181 11  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore ASCENDAS Hospitality Trust (A-HTrust) on Friday posted a 19.3 per cent drop in distribution per stapled security (DPS) to 1.3 Singapore cents for its third quarter ended Dec 31, compared to 1.61 cents a year ago. This was because distributable
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    • Article
      Lock icon LCD Global back in the black with S$10m net in Q2
      151 11 Singapore LCD Global Investments swung to profitability in the second quarter ended Dec 31, 2014, thanks to its associated and joint venture companies. The hospitality player inked a net profit of S$9.98 million in the second quarter, from a
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    • Article
      Lock icon STI STOCKS
      305 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 251 +3 253/248 263 212 5.7 6346.2 CapitaLand 355 unch 357/353 364 268 17.8 2.3 *****.2 CapitaMall Trust 219 +2 220/218 226 180 4.9 7597.2 CityDev 1018 +8 1020/1012 1118 907 13.8
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    • Article
      Lock icon SGX ETFs Most Active
      111 12 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap Lyxor Asia US$ US509 -1 196 511/509 543/455 509/511 74.3 UETF SSE50China 214 -5 118 218/214 238/140 214/215 66.9 DBXT CSI300 US$ US925 -13 52 940/925 1044/613 922/925 STI ETF 342 +2 44 344/341 349/302 342/343
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    • Article
      Lock icon SIBOR
      31 12 Feb 6 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) (SS) 1 mth 0.***** Source: Thomson Reuters
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      790 12 For week beginning Feb 2 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Hwa Hong Corp 04-Feb-15 Ong Kay Eng *Buy 10 0.33 ***** 2.18 ***** 2.18 Oriental Grp 03-Feb-15
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 12 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 6 5 0 0 0 5 6 5 Manufacturing 46 34 38 5 6 10 51 40 48 Commerce 26 11 22 2 3 6 28 14 28 Tpt/Stor/Comms 18 5 15
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 12 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 23,949 23,949 81,029 81,029 Manufacturing 151,884 33,560 185,444 83,068 2,623 85,691 Commerce 98,536 15,415 113,951 136,317 1,049 137,366 Tpt/Stor/Comms 108,059 327 108,386 193,471 106 193,577 Finance 24,335 67 24,402 211,523 14 211,537 Construction 30,254 5,898
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 12 Feb 6 VALUE CLOSE BT OB/OS -84.00 -77.00 BT CADI -*****.00 +47.00 BT 10-day MA -*****.00 -8.00 FTSE ST Mid Cap 786.88 +1.56 FTSE ST Small Cap 502.31 -0.40 FTSE ST All Share 825.05 +4.84 FTSE ST China Top 195.62 +0.53 FTSE ST China 237.40 +1.67 FTSE
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    • Article
      Lock icon UNUSUAL ACTIVITY
      80 12 VOL CLOSE($) CHANGE Koh Eco 150.0 0.050 -0.005 -9.09 AsiaMedic 337.0 0.070 +0.007 +11.11 Informatics 5,004.3 0.045 +0.003 +7.14 Far East 25.0 0.140 -0.010 -6.67 LottVision 9,010.1 0.008 +0.001 +14.29 Ascendas-iTrust 14,662.6 0.880 -0.010 -1.12 First Resources 7,683.8 1.970 +0.095 +5.07 HuanHsin^ 670.5 0.041 -0.005 -10.87 Jubilee Ind
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    • Article
      Lock icon COMMODITY FUTURES
      192 13 Feb-5 Price Net change change Last Trade Agricultural Feb-5 CBOT Soybeans (US cents/bu) 981.25 9.25 0.95% 13/03/2015 CBOT Soybean Oil (US cents/lb) 31.71 1.12 3.66% 13/03/2015 CBOT Wheat (US cents/bu) 525.75 14.75 2.89% 13/03/2014 Feb-5 LIFFE Cocoa (£/tonne) 1934.00 13.00 0.68% 16/03/2015 LIFFE Coffee (US$/tonne) 1922.00 -9.00 -0.47%
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    • Article
      Lock icon PALM OIL
      57 13 Feb 6 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Feb 15 2320.0 2330.0 2320.0 2305.0 369 1414 Mar 15 2326.0 2351.0 2358.0 2295.0 1370 ***** Apr 15 2324.0 2346.0 2352.0 2287.0 ***** ***** May 15 2308.0 2333.0
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    • Article
      Lock icon GOVERNMENT SECURITIES
      65 13 Feb 6 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 103.37 5-Year N*****0H 1.625 01-Oct-19 101.15 101.25 101.25 10-Year NY*****H 3.000 01-Sep-24 109.49 109.67 109.40 15-Year NY*****E 2.875 01-Jul-29 107.03 106.95 106.95 20-Year NZ*****V 3.375 01-Sep-33 114.77 30-Year NA*****N
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 13 Feb 6 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0530 1.0544 0.7827 0.7832 Canadian dollar 1.0808 1.0820 0.8037 0.8033 Euro 1.5403 1.5416 1.1449 1.1451 NZ dollar 0.9982 0.9994 0.7419 0.7423 Sterling pound 2.0612 2.0631 1.5320 1.5324
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    • Article
      Lock icon BONDS, WARRANTS, PREFERENCE SHARES
      205 13 Feb 6 Most active Prem Expiry Last Vol Conv Exer Disc Gear-Mths Company Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 3.8 -0.2 8712 1 18 20 DBS MB eCW*****0 12.9 unch 6623 0.2 1980 2 DBS MB ePW*****2 11.1 0.1 5152 0.2 1910 2
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT’L INDICES
      373 13 In local curr In S$ In US$ dy yr dy yr dy yr Feb 5 Index Change Change Change Change Change Change World Preliminary 1299.0 0.5 1.8 0.5 2.4 0.6 0.9 EAFE Preliminary 1029.5 -0.1 4.3 0.0 4.1 0.1 2.6 Europe Preliminary 1458.4 0.0 5.5
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    • Article, Illustration
      Lock icon STOCK MARKETS
      2 13
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    • Article, Illustration
      Lock icon Oil price, Wall St, Greek debt main drivers this week
      797 14  -  STOCKS R Sivanithy sivan@sph.com.sg @RSivanithyBT Senior Correspondent THE direction of the Straits Times Index (STI) this week was determined largely by external events, ranging from movements in oil prices and Wall Street to Greece’s debt negotiations with the European Central
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    • Article
      Lock icon Life insurance business growth remains flat in 2014
      280 14  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore GROWTH in Singapore’s life insurance business stayed flat at S$2.79 billion for the full year as at end-December 2014, compared with the whole of 2013. This was mainly due to a higher premium base in 2013
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    • Article
      Lock icon Great Eastern Q4 earnings up 25%
      352 14  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore HIGHER unrealised mark-to-market gains from favourable financial market conditions and growth in operating profit from insurance business helped lift Great Eastern Holding’s fourth quarter 2014 earnings by 25 per cent. Net profit for Q4 was S$207.8 million for
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      550 11 (a business trust constituted on 25 February 2011 under the laws of the Republic of Singapore and managed by Hutchison Port Holdings Management Pte. Limited) NOTICE OF BOOKS CLOSURE DISTRIBUTION PAYMENT DATE NOTICE IS HEREBY GIVEN that the Transfer Books and Register of Unitholders of Hutchison Port Holdings Trust (“HPH
      550 words
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Unbound by the rules of business
      1092 15  -  Edward Ong says his 20-year journey of struggles and soul-searching has moulded his character By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore O follow his calling in life, Singaporean businessman Edward Ong said he has made business decisions that are often unconventional and against the grain
      PHOTO: ARTHUR LEE  -  1,092 words
    • Article
      Lock icon Househunt
      884 16 PROPERTY TRANSACTIONS FOR DISTRICTS 1 TO 28 WITH CONTRACT DATES BETWEEN DEC 24 AND DEC 30, 2014 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED Marina One Residences Apt 30/12/2014 99 1528 3856 2523 Marina One Residences
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon China bank ratio cut draws mixed reactions
      635 17 Bankers hail move, but firms hoping it’ll mean more and cheaper loans could be disappointed Reuters Shanghai CHINESE bankers welcomed Beijing’s decision to cut the level of reserves they must hold, hoping they can put the freed-up cash to profitable use, but struggling
      Reuters; PHOTO: BLOOMBERG  -  635 words
    • Article, Illustration
      Lock icon Yuan traders at most bearish since 2009
      359 17 Bloomberg Hong Kong OPTIONS traders are the most bearish they’ve been on the yuan since the global financial crisis, betting China will allow more depreciation versus the dollar as monetary policy is loosened to support the economy. The one-month 25-delta risk-reversal rate for
      Bloomberg; PHOTO: BLOOMBERG  -  359 words
    • Article
      Lock icon Japan retirement fund hires external managers
      271 17 Bloomberg Tokyo JAPAN’S public retirement fund hired four external managers of domestic and overseas stocks as it moves to boost equities to half its assets. The US$1.1 trillion Government Pension Investment Fund (GPIF) picked Schroder Investment Management Ltd, Daiwa SB Investments Ltd and Nomura
      Bloomberg  -  271 words
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon India’s coal industry caught in litigation maze
      542 18 The Supreme Court has allowed companies to challenge auction rules Bloomberg New Delhi THE troubles in India’s coal mining industry are far from over. After the country’s Supreme Court cancelled mine permits last year and asked for fresh auctions, the top court has
      Bloomberg; PHOTO: BLOOMBERG  -  542 words
    • Article
      Lock icon Rio to restart US$20b iron-ore project as Ebola crisis wanes
      547 18 Bloomberg Melbourne RIO Tinto Group is preparing to restart work on developing the wo r ld s l ar g es t un t a pp e d iron-ore resource after West Africa’s Ebola crisis curbed progress on the US$20
      Bloomberg  -  547 words
    • Article
      Lock icon Gulf states defending Asia market share in oil price war
      423 18 Reuters Singapore SAUDI Arabia’s move to slash the price it charges in Asia for its oil this week to the lowest in more than a decade is the latest aggressive action by Gulf states to defend market share in the
      Reuters  -  423 words
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  • TECHNOLOGY
    • Article, Illustration
      Lock icon Data breach at insurer Anthem being probed
      434 19 Possible ties to China being examined Reuters New York SEVERAL US states are investigating a massive cyberattack on No 2 US health insurer Anthem Inc that a person familiar with the matter said is being examined for possible ties to China. Anthem disclosed
      Reuters; PHOTO: BLOOMBERG  -  434 words
    • Article
      Lock icon Twitter revenue nearly doubles, but user growth below expectations
      487 19 AFP San Francisco TWITTER reported its revenue nearly doubled in the final three months of last year, but user growth fell short of analyst expectations. Twitter shares rallied more than 10 per cent on Thursday in after-market trades, evidently powered by
      AFP  -  487 words
    • Article
      Lock icon Siemens to axe 7,800 jobs worldwide
      162 19 Bloomberg Munich SIEMENS AG plans to cut about 7,800 jobs, about 2 per cent of its global workforce, as chief executive officer Joe Kaeser needs to slash costs at Europe’s biggest engineering company to revive profits. About 3,300 of the jobs will be cut
      Bloomberg  -  162 words
    • Article
      Lock icon LinkedIn’s profit outlook for 2015 tops estimates
      335 19 Bloomberg New York LINKEDIN Corp’s push into China and new products geared to advertisers and salespeople are starting to pay off, with the pro-fessional-networking service issuing a profit forecast for 2015 that topped estimates. Shares jumped 7.8 per cent after LinkedIn said annual
      Bloomberg  -  335 words
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  • CONSUMER
    • Article, Illustration
      Lock icon Swatch plans smartwatch to compete with Apple Watch
      578 20 Swiss firm will start selling device within next three months Bloomberg Zurich SWATCH Group AG plans to start selling a smartwatch within the next three months, potentially pitting the Swiss maker of colourful plastic timepieces against the debut of the Apple Watch.
      Bloomberg; PHOTO: BLOOMBERG  -  578 words
    • Article
      Lock icon Fashion label Michael Kors wants to go high-tech
      346 20 Bloomberg New York THE fashion label known for its MK-print handbags that try to embody “jet-set” glamour told analysts that it has plans for wearable technology and would announce specifics in the “next few months”. “We will be in wearables,” said John
      Bloomberg  -  346 words
    • Article
      Lock icon Walmart names exec for China to boost image there
      194 20 Bloomberg Boston WAL-MART Stores Inc is assigning a veteran employee to a newly created post in China, with the goal of improving the retailer’s reputation after accounting, inventory and food safety missteps. The executive, Maggie Sans, has been named senior vice-president
      Bloomberg  -  194 words
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  • TRANSPORT
    • Article
      Lock icon Uber presses on in China with different strategy
      377 21 It works with vehicle-rental firms instead of individual car owners Bloomberg Shanghai UBER Technologies Inc said that its strategy of working with vehicle-rental companies in China instead of individual car owners has allowed it to continue operations after a government ban on
      Bloomberg  -  377 words
    • Article, Illustration
      Lock icon GM to start building Bolt in 2016
      288 21 Reuters Detroit GENERAL Motors Co plans to begin building the Chevrolet Bolt, its all-new US$30,000 electric car, in October 2016 at an underused small-car plant north of Detroit, two supplier sources said. Despite the heavy hype surrounding the car’s unveiling last month at
      Reuters; PHOTO: AFP  -  288 words
    • Article
      Lock icon US shippers turn to air freight amid port labour dispute
      746 21 Bloomberg Los Angeles MANUFACTURERS and retailers are stockpiling goods and taking steps to bypass US West Coast ports amid a labour dispute that the facilities’ operators say threatens a shutdown disrupting more than 40 per cent of US trade. Cargo
      Bloomberg  -  746 words
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Strong job and wage gains in Jan open door to mid-year rate hike
      592 22 Non-farm payrolls increase 257,000; wages go up 12 cents after falling in Dec LATEST US DATA Reuters Washington US job growth rose solidly in January and wages rebounded strongly, a show of underlying strength in the economy
      Reuters; PHOTO: BLOOMBERG  -  592 words
    • Article
      Lock icon Eurozone finance chiefs to discuss Greek standoff
      316 22 AFP Bloomberg Brussels EUROZONE finance ministers will hold an extraordinary meeting in Brussels next Wednesday to seek a solution to the debt standoff with Greece’s new an-ti-austerity government before its bailout expires at the end of the month, the European Union (EU) said.
      AFP; Bloomberg  -  316 words
    • Article
      Lock icon Malaysia, Indonesia seek resolution of sea disputes
      362 22 AFP Putrajaya THE leaders of Malaysia and Indonesia on Friday pledged renewed efforts to resolve stubborn disputes over maritime borders that have long nagged at one of South-east Asia’s most important bilateral relationships. Malaysian Prime Minister Najib Razak and visiting Indonesian President Joko
      AFP  -  362 words
    • Article
      Lock icon RBA reduces GDP, inflation forecasts for 2015
      320 23 It also predicts unemployment will rise, underscoring move to cut rates Bloomberg Sydney AUSTRALIA’S central bank lowered its 2015 growth and inflation forecasts and predicted unemployment will rise, underscoring this week’s decision to cut interest rates. “Growth overall is now forecast to remain
      Bloomberg  -  320 words
    • Article
      Lock icon Site of terminal for rail link to Malaysia to be unveiled soon
      346 23  -  By Andrea Soh san d rea@s p h .c o m .sg @AndreaSohBT Singapore SINGAPORE will be announcing the location of its terminal for the Singapore-to-Kuala Lumpur High Speed Rail (HSR) when the heads of both countries meet
      346 words
    • Article, Illustration
      Lock icon Swiss firms tackle strong franc by paring prices, getting discounts
      578 24 They also pay staff in euros and increase working hours in bid to protect profits Reuters Zurich SWISS companies are cutting prices, asking suppliers for discounts, paying staff in euros and demanding new hours to protect profits from a soaring
      Reuters; PHOTO: REUTERS  -  578 words
    • Article
      Lock icon 2009 bushfire survivors get A$300m in biggest class action lawsuit
      247 24 Reuters Sydney SURVIVORS of one of Australia’s deadliest wildfires won compensation of A$300 million (S$316.5 million) in a pre-trial settlement on Friday, bringing to a close the country’s costliest series of class action lawsuits. Australia’s worst natural disaster saw 173
      Reuters  -  247 words
    • Article
      Lock icon IMF maintains Asian presence with new appointment
      404 24  -  By Anthony Rowley btworld@sph.com.sg Singapore MANAGING director of the International Monetary Fund (IMF) Christine Lagarde has opted to maintain a strong Asian presence in her team by appointing Japanese former vice-minister Mitsuhiro Furasawa to one of the institution’s four deputy managing director posts.
      404 words
    • Article, Illustration
      Lock icon Jokowi plans tax amnesty to lure cash back
      574 25 Money repatriated to Indonesia will not be taxed, companies will get tax break Bloomberg Jakarta INDONESIAN President Joko Widodo is planning a tax amnesty in a bid to convince Indonesians to bring back funds held offshore as he seeks to narrow the
      Bloomberg  -  574 words
    • Article, Illustration
      Lock icon Abbott to face leadership vote after party revolt
      528 25 Reuters Sydney EMBATTLED Australian Prime Minister Tony Abbott will face a vote on his leadership at a par-ty-room meeting next week after disgruntled lawmakers called a challenge on Friday following weeks of divisive speculation. A member of Mr Abbott’s ruling conservative Liberal
      Reuters; PHOTO: AFP  -  528 words
    • Article
      Lock icon Seoul readies for US rate rise by easing levy on capital inflows
      331 25 Reuters Seoul SOUTH Korea said on Friday it would ease some controls on for-eign-currency borrowings to prepare for possible market instability in the likelihood of an increase in US interest rates later in the year. The government will
      Reuters  -  331 words
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      142 23 A Discover JOV of reading The Straits Times C n w f K J Ur* Choose from 6 a mazing gifts when you subscribe now! Pteoow-o Print Online Smartphone Tablet Lenovo TAB 2 A7-10 HTCRE THE STRAITS TIMES See more gifts and subscribe at www.stsub.com.sg/stfebl5 or call *****800 Who can
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  • OPINION
    • Article, Illustration
      Lock icon Going beyond the ‘global city’ paradigm
      1471 26 / 27  -  Singapore should strive to be a unique regional city. By Linda Lim ~The writer, who is professor of strategy at the Stephen M Ross School of Business of the University of Michigan, has been analysing Singapore’s economic development for 40 years. This article is
      PHOTO: KUA CHEE SIONG/THE STRAITS TIMES; PHOTO: RUDY WONG/THE STRAITS TIMES  -  1,471 words
  • Page 26 / 27 Miscellaneous
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Shenzhen steals a march on Shanghai market
        935 28 / 29 The Shenzhen Composite Index beat the Shanghai Composite Index by 13 percentage points in the biggest outperformance since 2008 Bloomberg JUST as Shanghai was starting to enjoy the title of favourite destination for Chinese stock investors, the nation’s smaller bourse in Shenzhen is
        Bloomberg; PHOTO: BLOOMBERG  -  935 words
      • BROKERS’ TAKE
        • Article
          Lock icon Silverlake Axis
          200 28 / 29 Buy UOB Kay Hian Research Feb 6 Feb 6 close: S$1.31 Target price: S$1.66 WHILE there is short-term disappointment over the cancellation of the CIMB-RHB-MBSB merger, we believe investors should look beyond the near-term noise. While the termination of the merger is a blow, we do not believe
          200 words
        • Article
          Lock icon Global Logistic Properties
          203 28 / 29 Buy CIMB Research Feb 5 Feb 6 close: S$2.49 Target price: S$3.30 GLOBAL Logistic Properties’ (GLP) lower Q3 FY15 earnings showed the impact of divestment adjustments. On a like-for-like basis, earnings would have been up 58 per cent year on year. Demand for space remains robust in
          203 words
        • Article
          Lock icon Fraser and Neave
          261 28 / 29  -  Compiled by Chan Yi Wen Sell Phillip Securities Research Feb 6 Feb 6 close: S$2.82 Target price: S$2.40 WE project that Fraser and Neave (F&N) will lose its 55 per cent stake in Myanmar Brewery Limited (MBL). The sale would leave Fraser with the slower growing soft
          261 words
      • Article, Illustration
        Lock icon Private-banking veteran out to raise clients’ level of knowledge
        838 30  -  This can only benefit the industry, says Kees Stoute.By Stoute.By Genevieve Cua gen@sph.com.sg @GenCuaBT Singapore FORMER private banker Kees Stoute, an industry veteran, describes private banking as a “beautiful” industry, marred by unhappiness among bankers and clients. Likening the paradox to
        PHOTO: SONAM  -  838 words
      • Article
        Lock icon January market volatility a blip or a harbinger?
        620 30 Bloomberg New York JANUARY was an unusual and exciting month for financial markets. Volatility returned to the equity markets. To use a rather unsophisticated measure, almost three-quarters of the trading days showed moves of more than 100 points in the Dow Jones
        Bloomberg  -  620 words
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon Jenner ‘gender change’ captures US attention
      633 31 AFP Washington OLYMPIC champion-turned-reality TV star Bruce Jenner has Americans’ rapt attention once again amid talk that he is soon to come out as transgender. People magazine, a trusted conduit for Hollywood publicists, reported this week that Jenner, 65, would open up in a
      AFP; PHOTO: WALLPHO  -  633 words
    • Article
      Lock icon Photo draws US$1.2m for kids’ Harvard entry
      346 31 School principal’s quote inspires lensman to feature pupil on blog; online appeal raises fund for the boy, classmates AFP New York IT began as a heart-warming photograph of a New York schoolboy that went viral. Now an online fund has raised US$1.2 million
      AFP  -  346 words
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  • Page 31 Miscellaneous
    • Miscellaneous
      Lock icon Page 31 Miscellaneous Column 1
      341 31 CRYPTIC CROSSWORD Across 1 Understands right to wear pants (6) 5 Germany is bound, say, to show a lack of belief (8) 9 Hang prints in order to cover grub, oddly (6,2) 10 Dates and marmalade spread over nougat originally plum (6) 11 Party animal sent back for words to
      341 words
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      Lock icon Page 32 Advertisements Column 1
      109 32 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE VALLÉE DE JOUX. FOR MILLENNIA A HARSH, UNYIELDING ENVIRONMENT; AND SINCE 1875 THE HOME OF AUDEMARS PIGUET, IN THE VILLAGE OF LE BRASSUS. THE EARLY WATCHMAKERS WERE SHAPED HERE, IN AWE OF THE FORCE OF NATURE YET DRIVEN TO MASTER
      109 words