The Business Times, 15 August 2015

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Microfilm: NL33586
Total Pages: 39
1 32 The Business Times
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      73 1 BT THE BUSINESS TIMES WEEKEND AUGUST 15 16, 2015 Living STAYCATION CENTRAL Pick from a Philippe Starck-designed hotel to the grandeur of rooms at the Capitol L2-5 HOME GARDEN Suburban revolution L10-11 DINING High-end in the heartlands L6-7 TRAVEL Idyll of a private Cambodian resort L12-13 ELEVATOR AT THE SOUTH
      73 words
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  • BT Living
    • LIVING
      • Article, Illustration
        Lock icon STAYCATION CENTRAL
        2583 2 / 3  -  CENTRALFrom a new hotel designed by Philippe Starck to pristinely restored rooms at the Capitol, staying on home turf sounds like a great idea now. By Tay Suan Chiang By Tay Suan Chiang taysc@sph.com.sg @T aySuanChiangBT STARCK CONTRAST The South Beach 30 Beach RoadZ6818 1888 thesouthbeach.com.sg Opening second
        PHOTOS: YEN MENG JIIN; PHOTOS: PARK HOTEL ALEXANDRA; PHOTOS: GENTING HOTEL JURONG; PHOTOS: THE PATINA; PHOTOS: THE CLUB  -  2,583 words
      • Article
        Lock icon wine&dine
        637 4 / 5 with BTWeekend Mid-Autumn Festival Marina Mandarin Singapore, Level 5, 6 Raffles Boulevard Z6845-1118 Gather your loved ones this Mid-Autumn Festival for a delightful mooncake appreciation. Peach Blossoms presents the Mini Yolk Charcoal Black Sesame Paste with Melon Seeds and Gold Dust which comes in a gift set of eight,
        637 words
    • DINING
      • Article, Illustration
        Lock icon HIGH-END IN THE HEARTLANDS
        1922 6 / 7  -  Not your regular food court Housing estate residents more used to a daily diet of chicken rice and fishball noodles are seeing more gentrified options in their neighbourhood hawker centres and kopitiams. By Rachel Loi By Rachel Loi @RachelLoiBT rachloi@sph.com.sg Essen The Pinnacle@Duxton 1 Cantonment Road
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    • STYLE
      • Article, Illustration
        Lock icon LIGHT MY FIRE
        1449 8 / 9  -  Scented luxury candles have gone beyond the feel-good factor and are now objects that are part of the interior design aesthetic. By May Yip By May Yip LOS ANGELES celebrity indoor cycling gym Soul Cycle has inspired one, and even the Tembusu tree an evergreen native to
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      • Article, Illustration
        Lock icon LEADING LOCAL LIGHTS
        233 8 / 9  -  Adding fuel to the local craze for candles, homegrown brands are creating candles inspired by the Little Red Dot. By May Yip By May Yip TEMBUSU SCENT Tembusu Tree fragrance candle, S$70, by the Gardens Shop at Singapore Botanic Gardens (botanicgardensshop.sg). Made from 100 per cent organic
        PHOTO: SINGAPORE BOTANIC GARDENS; PHOTO: A DOSE OF SOMETHING GOOD; PHOTO: 1872 CLIPPER TEA CO  -  233 words
    • HOME & GARDEN
      • Article, Illustration
        Lock icon Revolution in suburbia
        1177 10 / 11  -  personal space At the Tsao residence, there’s none of the usual opulence one would associate with a multi-million dollar home as the family invests instead in green technology. By Arthur Sim By Arthur Sim FOR a multi-million dollar house, some might find the new home of Darani
        PHOTOS: ARTHUR SIM  -  1,177 words
    • TRAVEL
      • Article, Illustration
        Lock icon Island in the Cambodian sun
        1665 12 / 13  -  Rory Hunter never dreamt he would be able to own an island when he arrived in Cambodia 10 years ago. By Corinne Kerk By Corinne Kerk WHAT can US$15,000 get you? An island, maybe? Fat chance. Unless you’re Rory Hunter, who got two for the
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      • Article
        Lock icon A little gem of a private getaway
        612 12 / 13  -  By Corinne Kerk ~The writer was a guest of Song Saa TEMPLES, colonial buildings and beaches. If it’s a case of “been there, done that” for you in Cambodia, then it’s time to chill out at a private island instead. Song Saa Private
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    • MOTORING
      • Article, Illustration
        Lock icon DIESEL POWER
        638 14  -  The Porsche Macan S Diesel’s combination of power and economy makes it special. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THEY both have three-litre V6 engines and they both cost about the same. So why would anyone choose the Porsche Macan S Diesel over the Porsche Macan S
        638 words
      • Article, Illustration
        Lock icon Not your garden-variety Ssangyong
        513 15  -  The compact Ssangyong Tivoli manages to spring a few surprises. By Samuel Ee By Samuel Ee samuelee@sph.com.sg THE Ssangyong Tivoli is named after one of the most famous gardens in Europe but as its distributor points out, it can be read “I lov it” backwards. Any
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    • SPORTS
      • Article, Illustration
        Lock icon Record-breaking partnership
        829 16  -  no holds barred Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Correspondent CALL it a happy reunion, if you like. German sportswear giant adidas, which used to design and produce jerseys for Manchester United from 1980 to 1992, kicked off its new ten-year deal with the English Premier League (EPL) club in
        PHOTOS: AFP, ADIDAS  -  829 words
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  • Title Section
    Lock icon Masthead
    20 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g AUGUST 15-16, 2015 S$1.00 MCI (P) 052/08/2014 Sffll A SINGAPORE PRESS HOLDINGS PUBLICATION
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  • Article, Illustration
    Lock icon Push for inclusive society started in 2007: Tharman
    794 1  -  The govt’s efforts in this area didn’t arise from the results of GE2011, he says By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE shift towards building a more inclusive society in Singapore started a full decade ago, with numerous measures introduced over the
    Source: UK Office of National Statistics; Statistics Finland; MOF Estimates; Source: MOF estimates  -  794 words
  • Article
    Lock icon PAP unveils Sembawang team
    35 1 S’PORE ELECTION ONG Ye Kung, a former PAP candidate for Aljunied GRC, is joined by newcomer Amrin Amin as the two new faces in the PAP line-up for Sembawang GRC. 2
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  • Article
    Lock icon Jail, fine for ex-Jade director
    34 1 SHARE RIGGING ANTHONY Soh, former Jade Technologies director, has been sentenced to eight years and nine months in jail and fined S$50,000 for share rigging and insider trading. 6
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  • Article
    Lock icon Olam’s Q2 profit trebles
    31 1 CORPORATE EARNINGS OLAM International’s Q2 earnings have trebled to S$94.7 million despite lower revenue and a net loss from changes in the valuation of biological assets. 10
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  • Article
    Lock icon Condo rents fall more than HOB
    33 1 PROPERTY THE rental decline for private apartments and condominiums has been much more pronounced than that for HDB flats, shows the latest data from SRX Property. 15
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  • Article
    Lock icon China’s currency stabilises after 3-day slide
    664 1 Yuan effectively devalued by 4.4% based on official rate steepest drop since 1994 NYT AFP Hong Kong CHINA’S currency, the renminbi, stabilised on Friday, ending a three-day plunge that shook markets globally and caused the renminbi’s steepest devaluation in decades. For the first time
    NYT; AFP  -  664 words
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  • Article, Illustration
    Lock icon Two new faces in PAP’s Sembawang GRC team
    866 2  -  Keppel executive, corporate lawyer join incumbents Khaw, Lim and Vikram SINGAPORE GENERAL ELECTION Reports by Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore ONG Ye Kung, a former People’s Action Party (PAP) candidate for Aljunied GRC, will get a second shot at entering parliament and
    PHOTO: NEO XIAOBIN / THE STRAITS TIMES  -  866 words
  • MARKETS
    • Article
      Lock icon STOCKS
      58 2 GSTI 3,114.25 (+22.47) GSTI FUTURES 3,103.00 (+22.00) GSIMSCI 346.29 (+2.66) GSIMSCI FUTURES 344.40 (+2.00) Friday Change KL COMP 1,596.82 -24.80 NIKKEI 225 20,519.45 -76.10 HANG SENG 23,991.03 -27.77 SET 1,413.92 +9.77 JAKARTA 4,585.39 +1.14 MANILA 7,408.44 -31.36 KOSPI 1,983.46 +7.99 SHENZHEN B 1,244.04 +5.04 MUMBAI IND 28,067.31 +517.78 11.45am
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    • Article
      Lock icon PRIME RATES
      29 2 SINGAPORE 5.35 MALAYSIA 6.85 HONG KONG 5.00 INDONESIA 14.385 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.70 SWITZERLAND 0.50 INDIA 14.75 Source: Bloomberg
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    • Article
      Lock icon FOREX
      49 2 US$ S$ US$ (S$ per US$) 1.404 (US$/S$ per 1.559 2.189 EURO (US$/S$/€ 1.113 1.563 Foreign currency per US$ S$ YEN 124.30 88.60 RM 4.076 2.904 HK$ 7.756 5.526 BAHT 35.27 25.13 RUPIAH 13,789 9,824 RENMINBI 6.400 4.560 INDIAN RUPEE 65.10 46.38 A$ 1.355 0.965 NZ$ 1.531 1.091
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  • Article
    Lock icon Efforts to cool housing have paid off, says Khaw
    289 2 EFFORTS in the past four years to rebalance the property market have paid off and it is “a lot cooler now”, National Development Minister Khaw Boon Wan said on Friday. Reporters had asked him, at the press conference to introduce two
    289 words
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      52 2 CONTENTS LIVING Living L2-4 Dining L6-7 Style L8-9 NEWS Top Stories 2-7 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 22-24 Opinion 26-27 Wealth 28-30 Life Culture 31 Home Garden L10-11 Travel L12-13 Motoring L14-15
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  • TOP STORIES
    • Article
      Lock icon Beware ‘Third World town councils’: Goh
      774 3 ESM says that’s what voters risk by applying different standards to PAP and opposition SINGAPORE GENERAL ELECTION The Straits Times Singapore VOTERS will end up with “Third World town councils in opposition wards” if they hold different standards of integrity for the ruling People’s
      The Straits Times  -  774 words
    • Article, Illustration
      Lock icon The 12th Parliament
      253 4  -  With the prospect of an early General Election looming, we look back at the highlights and milestones of the 12th Parliament. By TEH SHI NING and KENNETH LIM BT Infographics By TEH SHI NING, KENNETH LIM Lee Kuan Yew died on March 23, 2015 Png Eng Huat
      BT Graphics Source: Parliament of Singapore  -  253 words
    • Article
      Lock icon Bus crowding down 90% in last three years: Lui
      486 5  -  Nearly two-thirds of 1,000 extra buses added to public bus network By Ong Hui Qun ohuiqun@sph.com.sg Singapore BUS crowding measured by the number of days a service is more than 85 per cent loaded has fallen over 90 per cent in
      486 words
    • Article, Illustration
      Lock icon Ex-Jade director sentenced to record jail term and fine
      531 6  -  He was convicted on all 39 charges under SFA and Companies Act By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore FORMER Jade Technologies Holdings director Anthony Soh Guan Cheow, convicted of share rigging and insider trading, has been sentenced to eight years and
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    • Article
      Lock icon Vehicle sales lift S’pore June retail numbers by 6.9%
      272 6  -  Excluding vehicles, sales actually dipped 3% By Debbie Yong debyong@sph.com.sg @DebbieYongBT Singapore SINGAPORE retail sales went up by 6.9 per cent to S$3.5 billion in June 2015, from S$3.3 billion a year ago, marking the biggest jump in retail sales in
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    • Article, Illustration
      Lock icon The yuan and market-media mass hysteria
      1111 7  -  COMMENTARY Anthony Rowley Tokyo Correspondent RARELY has a reaction been so disproportionate in relation to the precipitating event as the response by markets and much of the international media to China’s modest devaluation of the yuan this week. It has verged, as one seasoned
      PHOTO: AFP  -  1,111 words
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      129 3 TURNING PASSION OEye Level I am the key. INTO OPPORTUNITY As a franchise owner you will enjoy Simple, effective systems for educating, marketing, sales and operations Extensive, proprietary curriculum, customised to the educational requirements of each student A time tested business model proven to attract and retain students A low
      129 words
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      1196 5 CHINA SKY CHEMICAL FIBRE CO., LTD (Incorporated in the Cayman Island) Company Registration Number: CT-*****9 NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of CHINA SKY CHEMICAL FIBRE CO., LTD. will be held at Vine I Ballroom, Metropolitan YMCA Singapore, 60 Stevens Road, Singapore
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      493 6 THE BUSINESS TIMES NOTICES IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF AUSSINO GROUP LTD F.K.A AUSSINO.COM GROUP LTD (IN CREDITORS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****0323H Extract of the minutes at the Extraordinary General Meeting of members of Aussino Group Ltd convened and
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      83 7 NOTICES Notice of Appointment of a Liquidator under Section 204 of the BVI Business Companies Act. IGINE.COM LIMITED (In Voluntary Liquidation) Company No. *****8 NOTICE is hereby given pursuant to Section 204, subsection 1(b) of the BVI Business Companies Act, 2004 that the Company is in voluntary liquidation. The voluntary
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Keeping the sound pure
      2481 8 / 9  -  In a crowded market obsessed with novelty, CEO Daniel Sennheiser is making his family’s electronics business thrive by focusing on quality, service and the reputation of the 70-year-old brand. By Christopher Lim By Christopher Lim limchris@sph.com.sg @ChrisLimBT Managing a business is like jazz at least for
      PHOTO: SHAWN TEO  -  2,481 words
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  • COMPANIES & MARKETS
    • Article
      Lock icon Olam’s Q2 earnings treble to S$94.7m
      519 10  -  Factors: fall in minority interests, lower expenses, units’ contributions By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore OLAM International’s second-quarter earnings have trebled to S$94.7 million despite lower revenue and a net loss from changes in the valuation of biological assets. The surge in profit attributable
      519 words
    • Article
      Lock icon OUE swings into the red in Q2
      397 10  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore OUE Limited swung into the red in the second quarter ended June 30 with a net loss of S$16.28 million versus a net profit of S$4.43 million a year ago, owing to S$20.55 million of other losses
      397 words
    • Article
      Lock icon ST Engineering’s Q2 profit drops 6.1%
      401 10  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore SINGAPORE Technologies Engineering (ST Engineering) reported a 6.1 per cent year-on-year drop in net profit to about S$125 million for the second quarter ended June 30, dragged down partly by lower finance income and higher finance costs. Earnings
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    • Article
      Lock icon AIA appoints group chief risk officer, S’pore CEO
      234 10 THE chief executive of AIA Singapore, Tan Hak Leh, has been appointed group chief risk officer of AIA Group from Sept 1. He will become a member of AIA’s group executive committee and relocate to Hong Kong for his new role. Patrick
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    • Article, Illustration
      Lock icon Short-covering pares STI’s loss for the week
      743 11  -  STOCKS R Sivanithy sivan@sph.com.sg @RSivanithyBT Senior Correspondent LOCAL traders returned on Tuesday after a long National Day holiday weekend to news that China had decided to devalue its yuan, a shock move that sparked fears of a currency war and triggered waves of
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    • Article
      Lock icon Analysts see silver lining in volatile markets
      527 11  -  By Caithlin Ng caithng@sph.com.sg Singapore DESPITE the volatility of the Chinese market and its slowing growth rate, financial experts speaking at Friday’s Invest Conference 2015 maintained there is still reason to be optimistic about China’s market outlook and its investment opportunities. At the
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    • Article
      Lock icon Swiber posts US$4.6m Q2 loss
      148 11  -  By Debbie Yong debyong@sph.com.sg @DebbieYongBT Singapore A DECLINE in the number of contracts executed led to a net loss of US$4.57 million for the second quarter ended June 30 at offshore engineering firm Swiber, compared with a US$7.5 million profit posted the previous year. Group
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    • Article
      Lock icon STI STOCKS
      320 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 229 +1 230/228 271 219 6.4 5794.6 CapitaLand 314 -4 317/312 379 293 11.5 2.9 *****.9 CapitaMall Trust 197.5 -1 199.5/197.5 228 188.5 5.5 6854 CityDev 916 cd +8 919/896 1095 876
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    • Article
      Lock icon SGX ETFs Most Active
      107 12 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS INDIA US$ US743 +7 1003 744/732 1000/696 743/745 92.9 STI ETF 315 +1 567 316/314 355/312 315/316 Nikko AM STI ETF 318 362 319/317 422/315 318/319 7.7 DBXT MSBrazil US$ US286 -10 88 291/286
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    • Article
      Lock icon SIBOR
      28 12 Aug 14 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 1.***** SWAP Offer rates 1 mth 1.***** Source: Thomson Reuters
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      787 12 For week beginning Aug 10 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) Tee Intl 13-Aug-15 Phua Chian Kin Buy 35 0.23 *****2 54.25 *****7 54.26 Japfa Ltd 13-Aug-15 Handojo
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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 7 2 0 0 0 5 7 2 Manufacturing 43 56 28 3 13 13 46 69 41 Commerce 15 17 15 2 8 5 17 25 20 Tpt/Stor/Comms 14 15 10
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 12 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 11,677 11,677 46,644 46,644 Manufacturing 165,549 127,126 292,675 60,139 2,781 62,920 Commerce 87,835 37,745 125,580 62,847 1,714 64,561 Tpt/Stor/Comms 199,669 5,127 204,796 206,712 463 207,175 Finance 30,042 35 30,077 255,429 5 255,434 Construction 35,199 14,507
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 12 Aug 14 VALUE CLOSE BT OB/OS -1012.00 +9.00 BT CADI -*****.00 -42.00 BT 10-day MA -*****.00 -101.00 FTSE ST Mid Cap 711.38 -0.67 FTSE ST Small Cap 434.63 -1.03 FTSE ST All Share 746.08 +4.00 FTSE ST China Top 182.58 -0.06 FTSE ST China 222.99 -0.41 FTSE
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    • Article
      Lock icon UNUSUAL ACTIVITY
      83 12 VOL CLOSE($) CHANGE Great Group 11,547.1 0.035 +0.019 +118.75 CPH 27,467.0 0.007 -0.002 -22.22 Mercator Lines 76,712.2 0.037 +0.003 +8.82 China Great Land 6,297.3 0.036 -0.004 -10.00 Vicplas Intl 1,135.2 0.078 +0.003 +4.00 KingsmenCreative 918.4 0.860 -0.090 -9.47 Select 263.7 0.435 +0.030 +7.41 Samko Timber 350.0 0.119 +0.012
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    • Article
      Lock icon COMMODITY FUTURES
      193 13 Aug-13 Price Net change change Last Trade Agricultural Aug-13 CBOT Soybeans (US cents/bu) 993.00 42.00 4.42% 14/08/2015 CBOT Soybean Oil (US cents/lb) 28.91 -0.12 -0.41% 14/08/2015 CBOT Wheat (US cents/bu) 503.25 11.00 2.23% 14/09/2015 Aug-13 LIFFE Cocoa (£/tonne) 2024.00 11.00 0.55% 15/09/2015 LIFFE Coffee (US$/tonne) 1704.00 5.00 0.29%
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    • Article
      Lock icon PALM OIL
      53 13 Aug 14 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 15 1986.0 1070 Sep 15 2001.0 2004.0 2023.0 1994.0 1862 8987 Oct 15 2009.0 2027.0 2042.0 2009.0 ***** ***** Nov 15 2029.0 2047.0 2068.0 2029.0 ***** *****
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    • Article
      Lock icon GOVERNMENT SECURITIES
      61 13 Aug 14 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.14 5-Year N*****0S 2.000 01-Jul-20 99.85 10-Year NX*****Z 2.375 01-Jun-25 98.16 98.25 98.25 15-Year NY*****E 2.875 01-Jul-29 100.02 20-Year NZ*****V 3.375 01-Sep-33 106.06 106.20 106.20 30-Year NA*****N 2.750 01-Apr-42
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 13 Aug 14 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0353 1.0364 0.7378 0.7383 Canadian dollar 1.0735 1.0743 0.7653 0.7651 Euro 1.5620 1.5633 1.1132 1.1136 NZ dollar 0.9166 0.9172 0.6532 0.6534 Sterling pound 2.1877 2.1895 1.5591 1.5597
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    • Article
      Lock icon BONDS, WARRANTS, PREFERENCE SHARES
      208 13 Most active Aug 14 Prem Expiry Last Vol Conv Exer Disc Gear-Mths Company Sale +or-('000) Ratio Price ing Left OCBC Bk MB eCW*****1 7.6 0.5 5172 0.2 1040 4 KepCorp MB eCW*****1 10.6 -0.6 3992 0.2 780 6 Equation Summit LimitedW*****2 0.2 unch 3500 1 1
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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 Aug 13 Index Change Change Change Change Change Change World Preliminary 1329.0 0.2 4.2 -0.2 7.6 0.0 1.9 EAFE Preliminary 1073.7 0.6 8.8 0.0 9.8 0.2 4.0 Europe Preliminary 1488.9 0.8 7.8
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    • Article, Illustration
      Lock icon STOCK MARKETS
      2 13
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    • Article
      Lock icon Wheelock posts Q2 earnings of S$17.74m
      457 14  -  Profit falls 85% despite revenue surge as 2Q14 included S$109m negative goodwill By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore DESPITE more than trebling sec-ond-quarter revenue from a year ago, Wheelock Properties (Singapore) posted an 85.3 per cent slump in net profit for the three months
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    • Article
      Lock icon United Engineers post lower Q2 profit
      205 14  -  By Debbie Yong debyong@sph.com.sg @DebbieYongBT Singapore UNITED Engineers Ltd (UEL) posted a second-quarter net profit of S$17.6 million, down 57 per cent from the previous corresponding’s S$40.8 million, which included S$16.6 million from discontinued operations. Stripping off discontinued operations, profit attributable to equity-holders from
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    • Article
      Lock icon Valuetronics posts 1.1% drop in Q1 earnings
      304 14  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore ELECTRONICS manufacturing services provider Valuetronics Holdings on Friday reported a 1.1 per cent year-on-year dip in net profit to HK$33.48 million (S$6.1 million) for the first quarter ended June 30. Revenue in Q1 FY2016 fell 12.2 per
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    • Article
      Lock icon Straco Q2 profit up 26% at S$10.5m
      147 14 ATTRACTIONS operator Straco Corporation has posted a 25.6 per cent surge in second-quarter earnings to S$10.46 million, on the back of a strong showing by the Singapore Flyer. For the three months ended June 30, revenue jumped 49.4 per cent to S$29.39 million.
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    • Corporate digest
      • Article
        Lock icon Ezion Holdings
        72 14 SHARES of service rig owner Ezion Holdings fell four cents to S$0.725 on Friday after the group posted a 36.3 per cent plunge in net profit to US$28.96 million for the second quarter ended June 30. Revenue fell 2.8 per cent to US$90.05 million while cost of sales
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      • Article
        Lock icon Otto Marine
        66 14 LOWER revenue and higher finance costs led offshore support vessel owner Otto Marine to post a net loss of US$2.72 million for the second quarter, compared with a US$16.86 million net profit a year ago. Revenue dived 36.4 per cent to US$71.22 million. Loss per share came in
        66 words
      • Article
        Lock icon Yeo Hiap Seng
        105 14 SECOND-QUARTER net profit for drink manufacturer Yeo Hiap Seng (YHS) fell to S$4 million from S$5.2 million a year ago. But for the half year, net profit rose to S$13.2 million from S$12.5 million. “This was mainly due to higher net profit of S$3.90 million generated from
        105 words
      • Article
        Lock icon Albedo
        89 14 ALBEDO said on Friday that its proposed acquisition of a Taiwanese medical aesthetic group will give it a foothold in the fast-growing China market for beauty and wellness where foreign doctors except those from Taiwan are restricted. Albedo had in June announced the proposal to acquire a 51 per
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  • REAL ESTATE
    • Article, Illustration
      Lock icon July condo rents fall more than HDB flats
      1097 15  -  SRX Property data shows leasing volumes for private condos up 18% y-o-y in July. Tenants taking shorter leases By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore THE rental decline for private apartments and condominiums has been much more pronounced than that for Housing Development
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    • Article
      Lock icon Househunt
      1098 16 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN JULY 1 AND JULY 7, 2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 9 NON-LANDED Orchard Court Apt 06/07/2015 99 1442 1700 1179 Orchard Twr Apt 02/07/2015 FH 1970
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon M’sian pension fund faces tough operating environment
      567 17 Returns will be hard to find as foreign outflows weigh on stocks and ringgit Bloomberg Kuala Lumpur MALAYSIA’S biggest pension fund manager said that returns will be hard to find as foreign outflows weigh on the nation’s stocks and currency. The fund is
      Bloomberg; PHOTO: AFP  -  567 words
    • Article
      Lock icon 9 banks agree to pay US$2b to settle forex rigging suit
      307 17 AFP New York NINE major banks accused of foreign-exchange rigging have agreed to pay more than US$2 billion to investors in settlements, a law firm involved in the process said on Thursday. Plaintiffs have “reached settlements totalling more than
      AFP  -  307 words
  • Page 17 Advertisements
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      Lock icon Page 17 Advertisements Column 1
      51 17 HOT PROPERTY NUOVO 4+1, HIGH flr, 1550sf, reno, spacious, superb view! opp MRT/ mkt, windy, rare! Beautiful! $1.4xM. GARDENS AT BISHAN, 1227sf Reno. 3bdrms, high flr, Pool unblock view, face NS. Ai Tong, future MRT doorstep. APARTMENTS FOR SALE Check out these properties and more in The Straits Times Classified
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Gold rout forcing mining firms to slash labour costs
      582 18 Cutbacks include corporate office staff and local contractors but not mine workers Bloomberg New York MINERS from global giant Barrick Gold Corp to small-cap Golden Star Resources Ltd are grappling with the same dilemma as the gold rout deepens: how to
      Bloomberg; PHOTO: BLOOMBERG  -  582 words
    • Article
      Lock icon Switch to LEDs contributes most to reducing carbon emission
      739 18 Bloomberg New York UTILITY and power grid managers in the US are learning that the best way to cut carbon emissions and improve efficiency is the easiest: Just change your light bulbs. The nation’s largest grid, serving more than 61 million
      Bloomberg  -  739 words
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  • TECHNOLOGY
    • Article
      Lock icon Apple to delay live TV service until 2016
      821 19 Slow licensing talks with TV networks, lack of tech capacity among key reasons Bloomberg San Francisco APPLE Inc customers waiting for the company to revolutionise live television as it did for music and phone service will have to keep waiting, at least
      Bloomberg  -  821 words
    • Article, Illustration
      Lock icon Private email servers vulnerable to hackers, say security experts
      728 19 WP Washington IN the Wild West world of cyberspace, could a semi-secret private email server be more secure than a government system? Not likely. US federal agencies are under intense scrutiny for failing to fend off hackers in several major cyberattacks,
      WP; PHOTO: REUTERS  -  728 words
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  • CONSUMER
    • Article
      Lock icon More weather-related food shocks likely: report
      415 20 It suggests adopting better ways to predict effects of falls in supply Reuters London EXTREME weather such as intense storms, droughts and heatwaves will cause more frequent and severe food shortages as the global climate and food supply systems change, British and American experts
      Reuters  -  415 words
    • Article, Illustration
      Lock icon Watch Sesame Street on HBO soon
      581 20 NYT New York SESAME Workshop, the non-profit group behind the children’s television programme Sesame Street, has struck a deal with HBO, the premium cable network, that will bring the next five seasons of Sesame Street to HBO and its streaming outlets starting this fall.
      NYT; PHOTO: DESMOND FOO / THE STRAITS TIMES  -  581 words
    • Article
      Lock icon Coca-Cola promotes Europe exec to COO
      322 20 Bloomberg New York COCA-COLA Co promoted James Quincey to chief operating officer, setting up the 19-year company veteran as a potential successor to chief executive officer Muhtar Kent. Mr Quincey, 50, will have responsibility for all of Coca-Cola’s operating units worldwide and will report
      Bloomberg  -  322 words
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  • TRANSPORT
    • Article, Illustration
      Lock icon Ship disruptions persist at Tianjin port
      589 21 Some oil cargoes are still barred from one of its wharves Bloomberg New York SHIPPING and logistics companies reported delays and disruptions after the deadly blast at the Chinese port of Tianjin as some oil cargoes were still barred from one of its wharves.
      Bloomberg; PHOTO: AFP  -  589 words
    • Article
      Lock icon Lufthansa keeps rating with hybrid bond
      446 21 Bloomberg Frankfurt DEUTSCHE Lufthansa AG has secured its status as one of a handful of airlines worldwide with an investment grade credit rating following a 500 million-euro (S$783 million) hybrid-bond issue, Standard Poor’s said. The German carrier’s BBBrank, one above junk, is safe for
      Bloomberg  -  446 words
    • Article
      Lock icon Tianjin blasts damage cars, facilities: Japan marques
      301 21 Reuters Tokyo SEVERAL Japanese carmakers including Toyota Motor Corp reported damage to cars and facilities after two huge explosions at the Chinese port of Tianjin tore through an industrial area where toxic chemicals and gas were stored. The blasts in the city of
      Reuters  -  301 words
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  • GOVERNMENT & ECONOMY
    • Article
      Lock icon July wholesale prices, industrial output up
      351 22 LATEST US DATA Reuters Washington US producer prices rose for a third straight month in July, suggesting the drag on inflation from weaker oil prices was easing. Industrial output also advanced at its strongest pace in eight months. The Labor Department said on Friday
      Reuters  -  351 words
    • Article, Illustration
      Lock icon Ringgit at 17-yr low as global funds sell stocks, bonds
      552 22 It slumped as much as 2.8% before closing 1.7% down at 4.0795 a US dollar in KL Bloomberg Kuala Lumpur MALAYSIA’S ringgit plunged the most since 1998 on concern the nation is running out of ammunition to defend its currency
      Bloomberg; PHOTO: BLOOMBERG  -  552 words
    • Article
      Lock icon Eurozone economy slows as France stalls and China risks loom
      357 22 Reuters Berlin ECONOMIC growth in the eurozone slowed in the second quarter as France stagnated and Italy lost momentum, held back by an uncertain global outlook that is weakening investment even in powerhouse Germany. Growth in the 19-country currency bloc
      Reuters  -  357 words
    • Article
      Lock icon Abe offers message of peace and reconciliation
      750 23  -  But Japanese premier stops short of explicitly using term ‘aggression’ By Anthony Rowley btworld@sph.com.sg Tokyo JAPANESE Prime Minister Shinzo Abe on Friday made a verbal gesture of bowing deeply before Asia and the rest of the world over wartime sufferings he acknowledged that
      750 words
    • Article, Illustration
      Lock icon Jokowi spells out spending, tax-cut plans
      670 24 He plans to spend more on outlying regions; forecasts 5.5% GDP growth for next year Bloomberg Jakarta INDONESIAN President Joko Widodo plans to spend more on the nation’s outlying regions next year and will seek lawmakers’ approval to cut tax rates, betting that lifting
      Bloomberg; PHOTO: AFP  -  670 words
    • Article
      Lock icon Greek lawmakers back rescue package after all-night session
      338 24 Bloomberg Athens GREEK legislators have approved a bailout package that may unlock as much as 86 billion euros (S$134 billion) and help the nation avoid a default next week when it has to make a payment to the European Central Bank. After
      Bloomberg  -  338 words
    • Article
      Lock icon HK posts steady Q2 GDP, raises 2015 growth outlook
      247 24 Reuters Hong Kong HONG Kong’s economy kept a solid footing in the second quarter bolstered by private consumption, with the government raising its 2015 growth outlook even as tourism and exports slowed. The upbeat data surprised markets, given Hong Kong’s sluggish
      Reuters  -  247 words
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  • Page 23 Advertisements
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      Lock icon Page 23 Advertisements Column 1
      264 23 PHE BUSINESS TIMES f “t N A HEADY EVENING NOT TO BE MISSED The Business Times Luxe Night Taste Paradise Restaurant ION Orchard, #04-07 Thursday, 27 August 2015 7.30pm 9.30pm Registration will commence at 7.00pm $68 nett per person All payments by VISA or MasterCard credit cards only and are
      264 words
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      Lock icon Page 25 Advertisements Column 1
      311 25 World Amateur Golfers Championship SINGAPORE Do you have what it takes to play golf for Singapore? Goodie bag worth more than $600, comprising 6 months’ digital subscriptions for The Business Times and The New Paper, 1 year digital subscription for 2 magazines#, a box of Titleist Velocity golf balls, a
      311 words
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  • OPINION
    • Article, Illustration
      Lock icon Thoughts amid high summer in Cairo
      1255 26 / 27  -  A city caught between its rich heritage and tough, occasionally messy present unveils surprises that challenge one’s preconceived notions. By Cai Haoxiang By Cai Haoxiang ~The writer, a BT correspondent, was in Egypt at the invitation of the Suez Canal Authority to cover the
      PHOTO: CAI HAOXIANG; PHOTO: CAI HAOXIANG  -  1,255 words
    • Article, Illustration
      Lock icon A MAS-sive change in online banking
      798 26 / 27  -  By Dean Young ~The writer is head of product management at eWise, a personal financial management provider in Singapore BANKING in Asia is often on the cutting edge of technical change. Online and mobile banking have been an integral part of a revolution, bringing
      PHOTO: THE STRAITS TIMES  -  798 words
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Hedge funds hit by China rout
        1061 28 / 29  -  After riding a market boom, Greater China-focused funds crashed to earth with the stock rout in July, their worst month since September 2011. By Bei Hu By Bei Hu Bloomberg Hong Kong WHAT China giveth, China taketh away. After riding a market boom to
        Bloomberg; PHOTO: AFP  -  1,061 words
      • BROKERS' TAKE
        • Article
          Lock icon Thai Beverage
          138 28 / 29 Add CIMB Research Aug 14 Aug 14 close S$0.765 Target price S$0.87 Q2 2015 was not as impressive a quarter as Q1. With a sports tax implemented at end-Q1 and effects of channel stockpiling boosting Q1 2015 alcohol sales, Q2 was payback time. Spirits’ and beer’s Q2 sales
          138 words
        • Article
          Lock icon ComfortDelGro
          108 28 / 29 Neutral RHB Research Institute Singapore, Aug 14 Aug 14 close S$3.11 Target price S$2.86 H1 FY2015 profit of S$149 million (+6.8 per cent year on year) accounted for 50 per cent of our FY2015 estimate. CD witnessed revenue growth across all business segments except automotive engineering services. We lower
          108 words
        • Article
          Lock icon OUE Hospitality Trust
          189 28 / 29 Hold KG I Frasers Securities Trust, Aug 14 Aug 14 close S$0.885 Target price S$0.795 EVEN with the acquisition of Crowne Plaza Changi Airport (CPCA), distribution income for Q2 2015 slid 6.6 per cent year on year to S$20.2 million, with dividends per share declining 7.3 per
          189 words
        • Article
          Lock icon Nam Cheong
          266 28 / 29  -  Compiled by Claire Huang Sell OCBC Investment Research, Aug 14 Aug 14 close S$0.193 Target price S$0.17 NAM Cheong reported a 49 per cent year-on-year fall in revenue to RM192.7 million (S$66.3 million) and a 83 per cent drop in net profit to RM10.7 million in Q2 2015,
          266 words
      • Article, Illustration
        Lock icon S&P 500 flouts history in break with bonds
        989 30 While not without precedent, instances when anxiety in bonds didn’t seep into equities are rare Bloomberg New York AS far as credit markets are concerned, US stock investors have lost touch with reality. That’s seen in the extra yield bond investors demand
        Bloomberg; PHOTO: REUTERS, BLOOMBERG  -  989 words
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon US returns long-lost Picasso work to France
      483 31 Oil painting ‘The Hairdresser’ was reported stolen from a major Paris museum in 2001 AFP Washington THE United States on Thursday returned to French authorities an oil painting by Pablo Picasso that was reported stolen from a major Paris museum 14 years ago.
      AFP; PHOTO: AFP  -  483 words
    • Article
      Lock icon Shopping for a surprise? Try a subscription box
      468 31 NYT New York NEED a monthly delivery of doomsday prepping supplies? How about treats for your pet rabbit, or only-available-in-Japan snacks like Umashi Oasi Cheetos? Then you might be a candidate for the latest consumer craze: the subscription box. A growing community
      NYT  -  468 words
  • Page 31 Miscellaneous
    • Miscellaneous
      Lock icon Page 31 Miscellaneous Column 1
      339 31 CRYPTIC CROSSWORD Across 1 City once second division third in league (6) 5 Love Irish dancing, but duck out feeling tetchy (8) 9 Close co-operation must destroy worm found in wood (8) 10 Begin to look embarrassed by communist cell (6) 11 Exceptional project when split (8) 12 Shoves spades
      339 words
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  • Page 32 Advertisements
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      138 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 B R A S S U S T H E E A R LY WAT C H M
      138 words