The Business Times, 30 July 2015

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Total Pages: 26
1 26 The Business Times

  • TOP STORIES
    • 618 2  -  Fund managers raise their allocations to India equities, even as emerging markets, excluding China, are having net outflows By Anthony Rowley btworld@sph.com.sg Tokyo FUND flows from advanced to emerging markets suffered severe turbulence in July, including heavy net outflows, although India
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    • 695 2  -  Ex-Malaysian DPM not like Dr M, who demands Najib step down for failing to provide 1MDB answers By Pauline Ng btworld@sph.com.sg Kuala Lumpur IF Malaysia’s Prime Minister Najib Razak had little to say to his former No 2 when he sacked
      PHOTO: AFP  -  695 words
    • 524 2  -  Leaks in tunnel also contributed to power trips, say LTA and SMRT By Samuel Ee samuelee@sph.com.sg Singapore THE weak electrical resistance of the third-rail insulator has been identified as the root cause of the massive train breakdown on July 7.
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    • 582 4  -  The asset class offers diversification and helps with inflation hedging GIC REPORT By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore GIC, one of the largest real estate investors globally, is stepping up its activity in the asset class as it offers diversification and inflation
      Source: GLC  -  582 words
    • 606 4 T Continued from Page 1 China’s market reforms will not be derailed by the current bout of measures introduced by the government to prop up the stockmarket, he said. “We would like to see more investments in
      BT Graphics Source: GLC  -  606 words
    • 763 4 Negotiation could collapse over issues from drug patents to dairy exports BLOOMBERG Lahaina, Hawaii TOP officials from 12 Asia-Pacific nations formally kicked off a four-day bid to hammer out a massive but so far elusive free-trade agreement that has
      BLOOMBERG; PHOTO: REUTERS  -  763 words
    • 758 5  -  It would diversify Europe’s engagement with Asia beyond the major economies of China, India SINGAPORE-UKTIES By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THE ratification of the free trade agreement (FTA) between Singapore and the European Union (EU) would signal that EU is
      China. PHOTO: LAU FOOK KONG / THE STRAITS TIMES  -  758 words
    • 571 5  -  It signs pact with the UK, Aviva to develop new business models, products By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore SINGAPORE is primed to lead the way in the insurance industry’s digital revolution in Asia with the help of British
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  • Page 2 Advertisements
    • 341 2 NANYANG technological 'y.'j UNIVERSITY Nanyang Business School NANYANG EXECUTIVE EDUCATION Cutting-edge Asian Management Education 2015 Young and research-intensive, Nanyang Technological University (NTU Singapore) is the fastest-rising university in the world’s Top 50 and ranked 39th globally. NTU is also placed 1 st amongst the world's best young universities. Nanyang Business
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  • Page 4 Advertisements
    • 48 4 Leading Transformation ASIA PACIFIC C€0 CONGRESS 18-19 August 2015 Sands Expo Convention Centre, Singapore www.apcc.sphereconferences.com To receive your exclusive invitation to the event, please contact Jiahui at +65 6848 5378 or email tojiahui@sphereconferences.com Brought to you by: THE BUSINESS TIMES Platinum sponsors: Official automotive sponsor: IJInetsuite RFNTI FY
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  • Page 5 Advertisements
    • 350 5 CAPITALAND DESIGNER SERIES CapitaLand Designer Series (CDS) fully-fitted homes are now available in the heart of Holland Road at d'Leedon and within the nature belt of Alexandra Road at The Interlace. Tasteful, timeless furnishing and interior options offer families and urban professionals a choice of homes designed around their lifestyle
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  • COMPANIES & MARKETS
    • 643 6  -  Exchange’s securities market transformation making progress, says bourse president By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore THE Singapore Exchange’s (SGX) move to woo retail investors by cutting board-lot sizes from 1,000 shares to 100 shares appears to be paying off, albeit
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    • 419 6  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore SINGAPORE Post posted a 15.8 per cent rise in net profit to S$46.6 million for the first quarter ended June 30, from S$40.2 million a year ago. Revenue grew 20.7 per cent, from S$210.9 million to S$254.6
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    • 932 6  -  By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore CDL Hospitality Trusts (CDLHT), which posted a 10 per cent drop in second-quarter distribution per stapled security, said it remains well poised for acquisitions. “The markets we continue to like include Japan; within Australia, we
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    • 621 6  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore BOOSTED by lower fuel costs, Singapore Airlines (SIA) registered a net profit of S$91.2 million for the first quarter ended June 30 (Q1 FY2016), soaring from S$34.8 million for the corresponding quarter last year.
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    • 323 6  - Sing Investments Finance posts marginal dip in Q2 profit By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore SING Investments Finance turned in a net profit of S$2.66 million for the second quarter ended June 30, 2015, down marginally from S$2.7 million in the corresponding quarter the year prior. Thanks to an expanded
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    • 490 6  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore RIGBUILDER Sembcorp Marine has slashed its interim dividend payouts for the first time in seven years, in a bid to conserve cash after a continued slump in oil prices led to major project deferments and hammered
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    • 680 8  -  Gross revenue in Sing dollar terms grows 6.4% and net property income rises 5.3%, on the back of a strong renminbi against S$ By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore CAPITALAND Retail China Trust (CRCT) posted a 5.4 per cent rise in distribution per unit (DPU)
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    • 722 8  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore OVER five years after AIMS AMP Capital Industrial Reit (AA Reit, and formerly known as MacarthurCook Industrial Reit or MI Reit) changed managers, it has also switched its investment strategy and capital management practices. In an interview with
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    • CORPORATE DIGEST
      • 123 8 FRASERS Hospitality Trust reported a distribution per unit (DPU) of 1.56 Singapore cents for its third quarter ended June 30, 2015. This was 0.65 per cent higher than its forecast. Compared to its forecast, gross revenue was 3 per cent lower at S$23.72 million, while net property
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      • 64 8 BLUMONT Group has warned that the group is expected to report net losses for Q2 2015 and the half-year ended June 30, 2015, due largely to the fair value readjustments of the group’s investments in transferable securities (financial assets), given the recent volatility in the financial markets and global
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      • 99 8 MAINBOARD-listed Singapore Windsor Holdings announced that its shareholders have approved the change of its corporate name to Singapore Myanmar Investco during an extraordinary general meeting held on Wednesday. During the EGM, shareholders also approved the sale of the group’s wholly owned subsidiaries, Windsor Holding Investments and Windsor Metal
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      • 56 8 CHINA Minzhong Food Corp reported a 34 per cent slide year-on-year in net profit to 83.02 million yuan (S$18.28 million) for the fourth quarter ended June 30, 2015. Revenue fell around 30 per cent to 463.82 million yuan. Earnings per share came to 0.13 yuan, down
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      • 59 8 ENVIRONMENTAL protection company China Everbright water has entered into a loan agreement with International Finance Corporation (IFC) to secure a long-term loan of US$140 million. The loan will largely be used as capital expenditure working capital of the company to finance the development and expansion of its
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      • 91 8 TEE International swung into the black with a net profit of S$8.21 million for the fourth quarter ended May 31, 2015, versus a net loss of S$16.36 million a year ago. Revenue surged around 92 per cent to S$89.45 million due mainly to higher revenue recognised for on-going
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    • 364 8  -  By Caithlin Ng caithng@sph.com.sg Singapore GLOBAL provider of modern logistics facilities GLP announced on Wednesday that it is acquiring a US$4.55 billion logistics portfolio in the United States, which will propel the company to become the second largest logistics property player there
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    • 874 9  -  DPU growth has been propelled by improving mall quality and tenant mix, says CEO By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore STARHILL Global Reit’s most recent acquisition in Adelaide has lent its quarterly performance a boost. On Wednesday, it reported a 3.2 per cent
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    • 574 9  -  By Elizabeth Mak eamak@sph.com.sg Singapore INTEGRATED private healthcare provider Raffles Medical Group (RMG) will join the United States-based Mayo Clinic Care Network, the group announced on Wednesday. RMG will be the first in Asia to join the network,
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    • Article, Illustration
      63 10 STI Catalist Straits Times Index July 29,2015 3,284.00 +2.91 (+0.09%) Current streak 1 day Day high 3,299.96 Day low 3,275.32 52-week high 3,539.95 (Apr 15, 2015) 52-week low 3,154.21 (Oct 16, 2014) FTSE ST Catalist Index July 29,2015 638.22 -3.55 (-0.55%) Current streak 6 days Day high 643.91 Day low
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    • 689 10  -  STI up just 2.91 points as markets await hints from Fed meeting about rate hike in September STOCKS By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT PENNY-STOCK activity in Singapore was still higher than usual on Wednesday, with anecdotal evidence of Chinese money playing up small-cap stocks.
      Source: Bloomberg  -  689 words
    • 312 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 243 +1 244/242 271 219 6 6148.8 CapitaLand 332 unch 337/331 379 293 12.2 2.7 *****.2 CapitaMall Trust 209 xd unch 209/205 228 188.5 5.2 7251.7 CityDev 953 +9 956/948 1095 915
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    • 39 10 VOLUME Great Group R 111,533,300 StratechGroup 109,247,400 ChinaSports 88,436,800 China Essence 78,356,100 Hu An Cable 70,462,800 Market volume 2,136,525,000 VALUE JMH USD 190,537,393 Singtel 91,568,128 DBS Grp 60,233,898 Keppel Corp 48,618,238 OCBC Bank 44,398,720 Market value 1,165,349,000
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    • 109 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 334 cd -1 458 335/334 355/319 334/335 IS MS INDIA US$ US749 +10 204 749/740 1000/696 745/749 93.6 UETF SSE50China 254 +2 121 255/250 340/150 254/255 79.4 IS ASIA HYG US$ US1062 -17 105
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    • 77 10 Jul 29 VALUE CLOSE BT OB/OS -374.00 -50.00 BT CADI -*****.00 -51.00 BT 10-day MA -*****.00 -37.00 FTSE ST Mid Cap 738.27 -0.94 FTSE ST Small Cap 458.76 -1.64 FTSE ST All Share 784.84 +0.23 FTSE ST China Top 188.05 -0.07 FTSE ST China 228.70 -0.23 FTSE
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    • 35 10 STI FTSE ST All-Share ftse ST All-Share index July 29,2015 784.84 +0.23 (+0.03%) Current streak 1 day Day high 788.07 Day low 783.28 52-week high 847.98 (Apr 15, 2015) 52-week low 762.71 (Oct 16, 2014)
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    • 33 10 STI MSCI EAFE MSCI EAFE Index July 28,2015 1,848.58 +1.73 (+0.09%) Current streak 1 day Day high 1,853.35 Day low 1,836.14 52-week high 1,960.95 (July 29, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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    • 186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 3 5 0 0 0 8 3 5 Manufacturing 38 52 29 9 11 16 47 63 45 Commerce 17 17 19 3 7 3 20 24 22 Tpt/Stor/Comms 9 17 13
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    • 121 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 13,024 13,024 68,146 68,146 Manufacturing 645,197 173,621 818,818 95,715 8,227 103,942 Commerce 132,096 97,328 229,424 247,200 5,049 252,250 Tpt/Stor/Comms 156,158 2,440 158,598 183,948 232 184,180 Finance 16,223 50 16,273 170,814 9 170,822 Construction 59,006 4,072
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    • 74 10 BY CENTS CLOSE UP 52w high/low DBXT E50 US$ 5112 83.3 1.2 5355/4562 DBXT MSKorea US$ 5213 68.3 1.0 6735/5125 GLD US$ ***** 64.2 0.4 *****/***** DBXT CSI300 US$ 1078 31.4 2.2 1471/679 DBXT MSAsExJp US$ 3448 27.3 0.6 4064/3261 BY PERCENTAGE CLOSE UP 52w high/low New Silkroutes 0.2
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    • 79 10 BY CENTS CLOSE DOWN 52w high/low IS S&P500 US$ ***** -195.3 -0.7 *****/***** DBXT MSTHAI US$ 1839 -151.6 -5.7 2300/1839 DBXT MSTaiwa US$ 2069 -133.8 -4.5 2392/2060 DBXT Vietnam US$ 2725 -83.3 -2.2 3100/2250 DBXT MSMSIA US$ 1202 -43.7 -2.6 1593/1202 BY PERCENTAGE CLOSE DOWN 52w high/low China Intl
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    • 82 10 VOL CLOSE($) CHANGE Europtronic 28,547.4 0.016 +0.006 +60.00 Hu An Cable 70,462.8 0.038 +0.006 +18.75 China Essence 78,356.1 0.027 +0.006 +28.57 Hengyang Petro 90.0 0.180 -0.015 -7.69 Koda 83.8 0.119 +0.036 +43.37 Great Group 2,399.1 0.009 -0.001 -10.00 InnoTek 5,618.4 0.305 +0.030 +10.91 JEP 10,828.0 0.041 +0.004 +10.81
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    • BROKERS’ TAKE
      • 143 10 Buy July 29 close: S$0.855 Target price: S$1.05 Maybank Kim Eng Research, July 28 We visited Q&M’s operations in Liaoning Province, including Aoxin’s three hospitals, the Liaoning Medical University (LMU) Stomatology Hospital No 2 and Aidite’s manufacturing facilities. We were impressed with their scale and standards of
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      • 107 10 Buy July 29 close: S$0.205 Target price: S$0.23 RHB Research institute Singapore, July 29 Knowledge Universe (KUH), the education-linked investment of k1 Ventures, has divested its early childhood education in the US to Swissbased investment firm Partners Group at a reported enterprise value of US$1.5 billion. KUH is
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      • 156 10  -  Compiled by Cai Haoxiang Add July 29 close: s$2.39 Target price: S$2.56 CIMB Research, July 28 PREIT’s Q2 and H1 2015 distributions per unit were in line with expectations at 25 per cent and 49 per cent of our full-year forecast, respectively. Maintain “add” as its 2015
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    • 28 10 DATA I 10.30 am (July 30) Singapore Employment Situation Report I 9.30pm (July 30) US Initial Jobless Claims I 9.30pm (July 30) US Personal Income and Outlays
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    • 449 11 CURRENCIES REUTERS London MAJOR currencies that are closely linked to commodities prices were back on the defensive on Wednesday as oil prices fell again and traders awaited the outcome later in the day of a US Federal Reserve meeting. The New Zealand
      REUTERS  -  449 words
    • FOREX RATES
      • 471 11 Jul 29 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.948 4.540 0.662 5.667 46.731 98.401 0.904 8.484 2.789 1.093 74.440 33.288 0.999 9.197 0.705 23.005 25.548 0.469 0.731 Canada 1.055 4.791
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      • Article, Illustration
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      • 155 11 Jul 29 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 0.9983 0.9989 0.7310 0.7314 Canadian dollar 1.0535 1.0541 0.7718 0.7714 Euro 1.5080 1.5085 1.1043 1.1045 NZ dollar 0.9128 0.9137 0.6684 0.6690 Sterling pound 2.1301 2.1305 1.5598 1.5599
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      • 22 11 Jul 29 S$ Bid Offer 1-month 1.3663 1.3668 2-months 1.3669 1.3677 3-months 1.3676 1.3683 6-months 1.3700 1.3709 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • 207 11 Most active Jul 29 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left FTSEChinaA50 ***** MBeCW*****9 10.8 1.2 8100 0.0 --2 FTSEChinaA50 ***** MBeCW*****9 6.5 0.6 7796 0.0 2 WE Holdings Ltd W*****5 0.1 unch 7531 1 0 1 OCBC
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      • 373 11 In local curr In S$ In US$ dy yr dy yr dy yr Jul 28 Index Change Change Change Change Change Change World Preliminary 1328.3 0.6 4.1 0.3 5.0 0.5 1.9 EAFE Preliminary 1076.0 0.5 9.0 0.0 7.4 0.1 4.2 Europe Preliminary 1494.5 0.9 8.2
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      • 404 11 Jul 29 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.86 *****.83 *****.28 Jul15 *****.50 *****.50 *****.50 *****.00 *****2 *****4 Aug15 *****.00 *****.00 *****.50 *****.00 *****5 *****0 NIKKEI 225 INDEX FUTURES SPOT *****.69 *****.69 *****.21 Sep15 *****.00 *****.00 *****.00 *****.00 *****3 *****8 Dec15
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    • BANK RATES
      • 154 11 Jul 29 $S Offer Bid 0vernight 0.03 0.01 1-month 0.75 0.625 2-months 0.8125 0.6875 3-months 0.875 0.75 Overnight mode: 0.25 US$ Offer Bid 7 days 0.22 0.12 1 month 0.23 0.13 2 months 0.28 0.18 3 months 0.40 0.20 6 months 0.60 0.40 9 months 0.80 0.60 12
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      • 36 11 Jul 29 1 mth 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 1.***** SWAP Offer rates 1 mth 0.***** 3 mths 0.***** 6 mths 1.***** Source: Thomson Reuters
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      • 59 11 Jul 29 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.33 5-Year N*****0S 2.000 01-Jul-20 99.91 99.98 99.98 10-Year NX*****Z 2.375 01-Jun-25 97.86 15-Year NY*****E 2.875 01-Jul-29 99.77 20-Year NZ*****V 3.375 01-Sep-33 105.68 30-Year NA*****N 2.750 01-Apr-42 95.84 Note:
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    • AGRI METALS ENERGY
      • 250 11 Jul-28 Price Net change change Last Trade Agricultural Jul-28 CBOT Soybeans (US cents/bu) 974.75 13.50 1.40% 14/08/2015 CBOT Soybean Oil (US cents/lb) 30.66 0.55 1.83% 14/08/2015 CBOT Wheat (US cents/bu) 510.75 8.25 1.64% 14/09/2015 Jul-28 LIFFE Cocoa (£/tonne) 2134.00 3.00 0.14% 15/09/2015 LIFFE Coffee (US$/tonne) 1761.00 -1.00 -0.06%
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  • Page 8 Advertisements
    • 332 8 STPROPERTY SEMINAR Grow Your Returns Through Real Estate Investment in Singapore the Asia Pacific All prices are inclusive of GST ‘Early bird price ends 31 July 2015 Date: Saturday Sunday 29-30 August 2015 Venue: SUNTEC Singapore Convention Exhibition Centre, Level 3 Summit 1 2, 321 322 V STRroperty EVEClTS ATTEND
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  • Page 9 Advertisements
    • 724 9 Advertorial RYOBI MHI Graphic Technology Ltd. 2..YBER (PTE) LIMITED y Pt«? IM SI fl H (L-R) Winston Lim, General Manager of BizLink Exhibition Services Pte Ltd, Foo Mee Har, Member of Parliament, West Coast GRC and Member, Government Parliamentary Committees (Finance and Trade Industry: and Manpower), Herbert Cheong, Chairman of
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  • REAL ESTATE
    • 495 12  -  S$380 million deal the first collective sale this year and the largest ever mixed use collective sale in Singapore By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore BROKER JLL on Wednesday confirmed that a member of Sin Capital Group, a private
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    • 298 12 REUTERS London US private equity firm Lone Star has agreed to buy British property firm Quintain Estates and Development for £700 million (S$1.5 billion) to gain one of London’s few remaining large-scale development opportunities. The cash bid of 131 pence a share
      REUTERS  -  298 words
    • 643 12 BLOOMBERG Cairo THE Emaar Properties banners adorning the facade of the Cairo Stock Exchange radiated confidence as shares started trading in Egypt’s biggest initial public offering since the 2011 Arab Spring. Three weeks and a 7.4 per cent decline later,
      BLOOMBERG  -  643 words
    • 420 13 Business lending declines the most on record in June; cheap borrowing costs stoke demand for homes BLOOMBERG London UK mortgage approvals rose more than economists’ forecast in June in a sign of continued momentum in the housing market. Lending to businesses fell the
      BLOOMBERG; PHOTO: REUTERS  -  420 words
    • 895 13 BLOOMBERG New York NEW YORK’S financial industry has returned to lead the city’s office leasing, after years of being hobbled by the credit crisis. This time, it’s not the biggest banks that are driving the market. Private equity and advisory firms
      BLOOMBERG; PHOTO: REUTERS  -  895 words
    • 638 14 Financial regulator investigating whether banks are lending borrowers more than they can afford to repay BLOOMBERG Copenhagen DENMARK’S financial regulator is policing banks more closely to ensure lax credit standards aren’t fuelling an overheated property market. The Danish Financial Supervisory Authority (FSA)
      BLOOMBERG; PHOTO: BLOOMBERG  -  638 words
    • 1524 14 Property transactions for districts 1 to 21 with contract dates between June 17 and June 23,2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED Marina Bay Suites Apt 22/06/2015 99 2691 7700 2861 Marina Bay Suites Apt 23/06/2015
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  • Page 12 Advertisements
    • 117 12 Colliers INTERNATIONAL The Asia Capital Markets and Investment Services Group is pleased to have successfully represented a Singapore-based developer on its maiden overseas real estate acquisition. i m iron 1 Golden Lane, City of London Accelerating success. CEA Licence No. L*****91J SINGLE STOREY WAREHOUSE FOR SALE Address 7 Tuas South
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    • 25 12 Lifestyle An independent voice BTLifestyle offers a candid view of the food, arts, travel, design and entertainment scene in Singapore and beyond. businesstimes.com.sg/lifestyle btlifestyle thebusinesstimes
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  • Page 13 Advertisements
    • 149 13 RENT Bedazzled! Black White Holland Lmm SALE FOR A villa feel, a luxurious vintage piece, a black and white theme with total comfort and every element of modern finish you could hope for. Nestled near Holland Village, its sensational elegance and classic features combine the whispers of yore with seduction
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    • 52 13 Hong Fok Group Unique Conservation Shophouse CBD AREA FULL COMMERCIAL NO ABSD dt A I' .4 ir -K H Rare Freehold Shophouse Keong Salk Area Land: 1,317 sqft Built-in: 2,810 sqft est •> 3% Yield Chic dining enclave 2 mins walkto MRT Ideal investment •Agents welcome For Sale by Owner
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    • 77 13 RENT A Peranakan Reminiscence Stunning GCB with Superb Grounds AlivingbreathingPeranakanbungalowmodelled onpastperfections.Entertaingenerouslywith theechoesfromthejazzage,whererecitalswere notunheardof intheheartof thehome.Letall bedrooomsrallyaroundthelivingarea.But graciously,withbreathingspaceslongforgotten inthebusyexistenceof today.Breathtaking volumeandunderstatedarchitecture.Homeand yetsomuchmorethanhome. That'sthePeranakanReminiscence. FOR www.isabelredrup.comA boutique real estate agency Call+65 *****055 email: susan@isabelredrup.com See our amazing slideshow on: www.isabelredrup.com/ir1c.php YouTube: https://www.youtube.com/watch?v=zvpJr1Ep7AQ Agency licence No. L*****87E Balestier Road FOR SALE Main Road,
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  • BANKING & FINANCE
  • Page 15 Advertisements
    • 325 15 GOOD CLASS BUNGALOW FOR SALE BINJAI PARK BISHOPSGATE CALDECOTT HOLLAND PARK LEEDON PARK OLIVE RD PEIRCE HILL SWETTENHAM SWISS CLUB VICTORIA PK ***** sf. Wide frontage, elevated ***** sf. Beautiful hse, tastefully done ***** sf English cottage. Tropical landscape ***** sf. Brand new, Just TOP ***** sf. Brand new, 6-rm.
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  • ENERGY & COMMODITIES
    • 766 16 Gold is out of fashion like flared trousers: no one wants it, says one analyst BLOOMBERG London THE problem for gold isn’t just that prices are dropping. For many, the metal also has lost its charisma. Sentiment means a lot in the
      BLOOMBERG; PHOTO: REUTERS  -  766 words
    • 925 16 REUTERS London GOLDMAN Sachs has inflamed further an already heated argument between analysts over the outlook for the copper market. The Wall Street heavyweight has positioned itself as a super bear, slashing its short, medium and long-term forecasts by as much as
      REUTERS  -  925 words
  • Page 16 Advertisements
    • 1512 16 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices SWING MEDIA TECHNOLOGY GROUP LIMITED (Incorporated in Bermuda) (Company Registration Number: *****) NOTICE OF SPECIAL GENERAL MEETING NOTICE IS HEREBY GIVEN that a Special General Meeting of the shareholders of Swing Media Technology Group Limited (the “Company”) will be held at
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  • TECHNOLOGY
    • 767 17 Jack Dorsey redeems himself in his first earnings call, following an unenthusiastic CNBC appearance in June BLOOMBERG San Francisco IN his first earnings call with investors as head of a public company, Jack Dorsey decided to go for candid. With
      BLOOMBERG; PHOTO: AFP  -  767 words
    • 988 17  -  By Hayley Tsukayama WP San Francisco MICROSOFT’S Windows 10 operating system should start hitting US computers on Wednesday, marking one of the biggest launches in the company’s history. A few years after what could charitably be called a disastrous launch for Windows 8,
      WP; PHOTO: AFP  -  988 words
  • Page 17 Advertisements
    • 1122 17 NOTICES OTTO MARINE LIMITED (Incorporated in the Republic of Singapore) (Company Registration No.: *****2647M) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (“EGM”) of Otto Marine Limited (the “Company”) will be held at Room 301-302 Suntec Singapore 6=>3)>7!=> U TR#!A!7!=> 6)>7;)G 0C’H)9 8=5V)3C;+G /5>7)-6!7PG
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  • CONSUMER
    • 806 18 A deeply ingrained mistrust of credit has long kept cash king in Germany, where the average citizen carries 103 euros in their pocket AFP Berlin TOURISTS and business travellers visiting Germany are often surprised when they reach to pay for their
      AFP; PHOTO: AFP  -  806 words
    • 438 18 REUTERS Paris LVMH’s fashion and leather division, its biggest in terms of profit and sales, beat forecasts on Tuesday with a 10 per cent rise in second-quarter sales driven by strong trading in Europe, Japan and the United States. The performance, outpacing
      REUTERS  -  438 words
    • 462 18 AFP Paris BRITISH singer Jane Birkin has asked luxury manufacturer Hermes to remove her name from its crocodileskin handbag after learning of the “cruel” methods used to make the iconic accessory. Costing tens of thousands of euros, the
      AFP; PHOTO: AFP  -  462 words
    • 838 18 BLOOMBERG New York PROCTER Gamble Co, pushing ahead with a widely expected succession plan, will elevate David Taylor to the chief executive officer job on Nov 1, with current CEO AG Lafley staying on as executive chairman. Mr Taylor
      BLOOMBERG; PHOTO: BLOOMBERG  -  838 words
  • Page 18 Advertisements
    • 62 18 15th 16th August 2015 Suntec Singapore Convention Exhibition Centre Level 4, Exhibition Hall 403 404 Expand Your Investment Horizon Invest with Confidence Market Outlook Panel Discussion: Featuring the Industry’s Sharpest Minds hosted by Diana Ser UP-CLOSE WITH “Small Change: Turning Cents Into Dollars” Join us and witness the winning portfolio
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    • 44 18 EXPERIENCETHE WHOLE NEW INTERFACE ON Thanks to its livelier look and enhanced features, doing your car research will be a whole lot easier! SEARCH BY VIEW BROWSE BY VISIT WWW.STCARS.SG NOW! Buy, sell or rent. At www.STCars.sg, your ideal car isn’t hard to find.
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  • GOVERNMENT & ECONOMY
    • 739 19 investors everywhere have been coddled by policymakers in recent years, making it hard for officials to cut stimulus BLOOMBERG Beijing EXIT strategies used to be the preoccupation of Pentagon planners. Nowadays, they are more a province for central bank watchers,
      BLOOMBERG  -  739 words
    • 651 19 REUTERS Hong Kong THE Chinese stock-market slump may delay how quickly regulators can push ahead with the launch of a programme to connect the mainland’s US$5 trillion bond market with overseas investors, three sources briefed on the matter told
      REUTERS; PHOTO: REUTERS  -  651 words
    • 633 19 REUTERS Athens GREEK Prime Minister Alexis Tsipras, struggling to contain a revolt in his left-wing Syriza party, said on Wednesday that his government would not implement reform measures beyond those agreed with lenders at a eurozone summit this month. Mr Tsipras
      REUTERS; PHOTO: REUTERS  -  633 words
    • 526 19 REUTERS Sao Paulo STANDARD Poor’s on Tuesday said Brazil could lose its coveted invest-ment-grade rating in the coming year if fallout from a number of corruption investigations further stymies economic growth and implementation of austerity measures. The warning is a setback
      REUTERS  -  526 words
    • 615 20 Outlook for economy, stock market worsens as slow pace of change after Jokowi’s election win curbs expectations BLOOMBERG Singapore INDONESIA’S consumer confidence faced an “extreme deterioration” in the first half, falling the most in Asia as the outlook for the economy
      BLOOMBERG; PHOTO: AFP  -  615 words
    • 753 20 REUTERS Tsuruoka, Japan FAR from dreading the prospect of a Pacific trade deal that would open up Japanese markets to higher grain and meat imports, rice and pig farmer Kazushi Saito embraces it. The 58-year-old, whose lush paddy
      REUTERS; PHOTO: REUTERS  -  753 words
    • 482 20 BLOOMBERG Singapore INDONESIA’S financial regulator is open to allowing a higher percentage of foreign ownership in local banks as the country wants to tap international funds for trade and project finance. The South-east Asian nation usually limits foreign purchases of domestic
      BLOOMBERG  -  482 words
    • 319 20 BLOOMBERG New York SPENDING on healthcare will take up an increasing proportion of the US economy over the next decade as the population ages and more people gain insurance coverage under Obamacare, a government report said. Payments for hospitals, doctors, drugs and
      BLOOMBERG  -  319 words
    • 801 21 All-in-one-go format to comprise policy decision, minutes of meeting, officials’ votes and new economic forecasts BLOOMBERG London BRACE yourself. Mark Carney is about to unleash a flood of data in one fell swoop in what will be an unprecedented move for
      BLOOMBERG; PHOTO: REUTERS  -  801 words
    • 655 21  -  He endorses the use of alternative energy sources and decries those who deny the threat of climate change By Anthony Rowley btworld@sph.com.sg Tokyo ON yet another (almost) unbearably hot and humid day in Tokyo on Wednesday, world-renowned economist and development specialist Jeffrey Sachs
      PHOTO: REUTERS  -  655 words
    • 570 21 BLOOMBERG London THE Bank of England may consider using stress tests of differing severity to assess the resilience of the financial system as economic booms turn to busts, said Deputy Governor Jon Cunliffe. A harsher scenario would be used
      BLOOMBERG  -  570 words
  • Page 19 Advertisements
    • 271 19 IN THE MATTER OF SANSIN INVESTMENT PTE LTD Company Registration No. *****1210N (In Members’ Voluntary Liquidation) At the Extraordinary General Meeting of the Company held at 541-0043, 4-5-13 Koraibashi, Chuo-ku, Osaka City, 602 Yodayabashi, Sateraito Building, Japan on 27 July 2015, the following special resolutions were passed:IT WAS RESOLVED 1.
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  • Page 21 Advertisements
    • 30 21 Paint the town red, or just your room Find painters to do the job or promote your services in CLASS 112 To advertise, call the Print Classified Hotline: 1800-289 9988
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    • 47 21 HOT PROPERTY JUST TOP! 3BDRM Gaia Brand new! Unfurn P/furn. Unblocked. High flr. Immed. Keys on hand. LE CRESCENDO 3BDRM. 1173 sf High floor. Windy bright. Immed. Furn/ unfurn. Mins to MRT. APARTMENTS FOR RENT Check out these properties and more in The Straits Times Classified now!
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  • TRANSPORT
    • 410 22 BLOOMBERG New Delhi SPANISH train-maker Talgo SA sees an opportunity in India’s tense relationship with China. Companies such as Talgo, Germany’s Siemens and France’s Alstom face stiff competition for global train deals from Chinese state-run giant CRRC Corp. Their chances
      BLOOMBERG  -  410 words
    • 808 22 Strong sales of sport utility vehicles and trucks helped lift earnings even as sales of F-150 pickup took a hit NYT Dearborn, Michigan REVERSING a period of lacklustre earnings, Ford Motor Co on Tuesday reported robust profits, surging 44 per cent in the
      NYT; PHOTO: AFP  -  808 words
    • 461 22 The budget carrier’s shares soar after it posts second straight quarterly profit BLOOMBERG New Delhi SPICEJET Ltd is in talks with Boeing Co and Airbus Group to buy more than 100 single-aisle jets worth about US$11 billion at list
      BLOOMBERG  -  461 words
    • 768 22 NYT Paris UNDER cover of darkness, group after group of migrants made their way to the Eurotunnel compound in Calais, France, overnight on Monday, climbing over fences and other barriers in a desperate bid to board freight trains bound for
      NYT; PHOTO: AFP  -  768 words
    • 325 22 BLOOMBERG Munich FIAT Chrysler Automobiles’ search for a merger partner suffered a setback after the Italian-American carmaker was reprimanded with a record US$105 million penalty for its delayed handling of safety defects in the US. On top of tarnishing the image of
      BLOOMBERG  -  325 words
  • Page 22 Advertisements
    • 31 22 BOLLYWOOD’S NEWEST WUNDERKIND Why 22-year-old actress Alia Bhatt is ahead of her contemporaries INDIA MOURNS ‘PEOPLE’S PRESIDENT’ GET YOUR COPY TOMORROW TO ADVERTISE: CALL SHAN (*****861) KALWANT (*****327) OR NISHAL (*****438)
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  • 993 23 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville APL Columbus V010E 23 May 06 Jun 22 Jun 26 Jun 29 Jun 01 Jul 03 Jul 06 Jul 08 Jul 10 Jul 10
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  • Page 23 Advertisements
    • 195 23 USE THIS SPACE TO SELL CALL JOE WONG AT *****327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced $h/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 Publicise Your Delivery O NewbuildsW dM 'SA
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  • OPINION
    • 549 24 EDITORIAL AT a major security conference in Singapore last week, Amit Yoran, president of network security provider RSA, said that cyber security was no longer a technology problem but rather a mindset problem. The cyber security landscape has changed and business and
      549 words
    • 926 24  -  THE BOTTOM LINE By Noah Smith TThis column does not necessarily reflect the opinion of Bloomberg LP and its owners BLOOMBERG ONE of the strongest orthodoxies in modern economics is being challenged, and there could be big implications for the state of the profession.
      BLOOMBERG  -  926 words
    • 1268 24  -  China will stay on course and notch a moderated 6 per cent GDP growth as its economy evolves. But it will need to manage risks and overcome policy challenges. BY MICHAEL HASENSTAB BY MICHAEL HASENSTAB TThe writer is chief investment officer of Templeton Global
      PHOTO: BLOOMBERG  -  1,268 words
    • 885 25  -  COMMENTARY By Anthony Rowley Tokyo NATIONAL culture is being treated as a tradeable commodity with the sale of Britain’s Financial Times newspaper to Japan’s Nikkei group and, while cross-border sales of media groups are by no means unprecedented, the implications of this
      885 words
    • 787 25  -  COMMENTARY By John Nelson TThe writer is chairman of Lloyd’s of London. He has just been appointed to the UK Prime Minister’s Business Advisory Group, and is also a member of the Monetary Authority of Singapore international Advisory Panel. ASEAN,
      787 words
    • 1093 25  -  With key conditions apparently in place for sustainable recovery in Greece, the Tsipras government should have little problem supporting its debt burden. BY ANATOLE KALETSKY burden.BY ANATOLE KALETSKY T The writer is chairman of the Institute for New Economic Thinking and the author of
      PROJECT SYNDICATE; PHOTO: BLOOMBERG  -  1,093 words


  • LIFE & CULTURE
    • 828 26 Apps like Peekawoo, Grouvly and Paktor make it easier for singletons to meet strangers safely AFP Hong Kong MOVE over, Tinder a crop of dating apps in smartphone-addicted Asia is offering to recruit friends for group dates or send along a
      AFP  -  828 words
    • 277 26  -  By Arthur Lee arthurl@sph.com.sg Singapore CUSTOMER loyalty and appreciation form a strong pillar of any company’s long-term success. What better way then to boost it than by inviting clients to come together for a treat and to enjoy the all-time favourite local fruit, durian?
      PHOTO: ARTHUR LEE  -  277 words
    • 862 26 Beijing CHINA came of age as an Olympic power when it hosted the spectacular Beijing 2008, a display of the unlimited resources and political will some say are essential to its bid for the 2022 Winter Games. The capital emerged as the
      PHOTO: AFP  -  862 words
    • 357 26 NYT New York LUXURY hotels are getting into spirits, offering private label blends guests can sample at the bar or take home as a memory in a bottle. In honour of its 130th anniversary this year, the Hamilton Princess and Beach
      NYT  -  357 words
  • Page 26 Miscellaneous
    • 335 26 CRYPTIC CROSSWORD Across 1 where to begin trainspotting, free (8,5) 10 Tie up an unusually attractive plant (7) 11 Free delivery (7) 12 Women prepared to follow orders (4) 13 The first to introduce the golden handshake? (5) 14 Right time of life for passion (4) 17 Fashionable church feature
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