The Business Times, 19 August 2015

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Microfilm: NL33587
Total Pages: 30
1 30 The Business Times
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  • Title Section
    Lock icon Masthead
    31 1 THE BUSINESS TIMES 2015 SOCIETY OF NEWS DESIGN EXCELLENCE AWARD■BEST IN OVERALL REDESIGN■ S$1.00 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BTBreakingnews CO REGN NO *****2868E MCI (P) 039/08/2015 Wednesday, August 19,2015
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  • DAILY DIGEST
  • Article, Illustration
    Lock icon Corporate governance index to cast wider net on stakeholder feedback
    805 1  -  2016 index will also tap OECD principles; scores in 2015 rankings hit a new high. Singtel takes top spot in annual ranking By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore CONSIDER it the seven-year itch of corporate governance. How and why the
    Source: NUS Centre for Governance, Institutions and Organisations  -  805 words
  • Article, Illustration
    Lock icon Fallout from bomb blast to dent Thailand’s tourism and economy
    955 1  -  Attack in Bangkok comes just as country’s tourism is rebounding from 2014’s political unrest By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore THAILAND’S tourism industry and, by extension, the country’s economy, are expected to take a hit from the bomb blast which
    PHOTO: REUTERS  -  955 words
  • Article
    Lock icon MARKETS
    28 1 Tuesday Change STI 3,049.65 -17.70 KL COMP 1,579.60 +7.06 NIKKEI 225 20,554.47 -65.79 HANG SENG 23,474.97 -339.68 SHENZHEN B 1,181.58 -60.44 DOW (11:45 am EDT) 17,520.26 -24.92
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  • TOP STORIES
    • Article, Illustration
      Lock icon Singapore notifies Malaysia of its concerns over higher land tax for Johor waterworks
      414 2  -  Shanmugam says under 1962 water pact, Singapore water agency PUB not obliged to pay the land tax IN PARLIAMENT By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore SINGAPORE has notified Malaysia of its concerns over the revised land assessment
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    • Article
      Lock icon Challenges stand in way of Asia growth story: top execs
      476 4  -  Region needs to take the bull by the horns on key issues to flourish, say Congress speakers ASIA PACIFIC CEO CONGRESS By Ong Hui Qun ohuiqun@sph.com.sg Singapore SO MUCH has been said about Asia’s economic growth story that we forget
      476 words
    • Article
      Lock icon Tech will play big part in further Asean integration: panel
      500 4  -  Small and medium-sized enterprises stand to benefit as technology will level playing field By Elizabeth Mak eamak@sph.com.sg Singapore DIGITALISATION will play a large role in the further integration of the Asean region, a panel at the inaugural Asia Pacific CEO
      500 words
    • Article, Illustration
      Lock icon PM Lee unveils commemorative notes to mark Singapore’s Jubilee
      560 4  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore PRIME Minister Lee Hsien Loong on Tuesday unveiled a set of six commemorative polymer currency notes to mark Singapore’s 50 years of independence. Each set of the notes, issued by the Monetary Authority of Singapore,
      560 words
    • Article
      Lock icon ST Telemedia invests in California big data firm Datameer
      442 4  -  By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore CONTINUING with its recent spate of strategic investments and acquisitions, ST Telemedia (STT) on Tuesday announced an investment in Datameer, a big data analytics and visualisation company based in San Francisco, California. STT has
      442 words
    • Article
      Lock icon STB launching S$10m fund to boost tourism product offering
      277 4  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THE Singapore Tourism Board (STB) is launching a S$10 million “Experience Step-Up Fund” under its Tourism Product Development Scheme another of its several recent efforts to boost languishing arrivals and tourist spend here. “The fund
      277 words
    • Article
      Lock icon M&A activity in Asia-Pacific at 10-year high
      540 5  -  Total M&A deal value up 55% at US$561.8b in H1 2015; momentum expected to continue into 2016 By Debbie Yong debyong@sph.com.sg @DebbieYongBT Singapore COMPANIES continued to leverage on the Asia-Pacific region as a growth driver in the first half of 2015, leading to
      540 words
    • Article
      Lock icon PICTET
      263 5 Pictet-Absl Rtn Fxd Inc-HP EUR 13/08/2015 EUR 103,93 Pictet-Absl Rtn Glo Div-P EUR 13/08/2015 EUR 119,32 Pictet-Asian Equities Ex Japan-P USD 13/08/2015 USD 186,76 Pictet-Asian Local Currency Debt-P USD 14/08/2015 USD 141,54 Pictet-Biotech-P USD 14/08/2015 USD 822,92 Pictet-Clean Energy-P USD 13/08/2015 USD 79,77 Pictet-Digital Communication-P USD 13/08/2015 USD 226,77
      263 words
    • Article
      Lock icon Teachers, allied educators to get pay increase from October
      491 5  -  A single salary structure for graduate and non-graduate teachers will also kick in the same month By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore TEACHERS will get a pay rise from Oct 1,2015, the Ministry of Education (MOE) said in a statement on
      491 words
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      Lock icon Page 2 Advertisements Column 1
      275 2 PwC’s Academy 2015 FRS Update Staying relevant H7 Join us to uncover the latest accounting standards, the implementation implications and areas of review under the financial reporting surveillance programme. Be engaged with practical case studies and interactive exercises for a complete learning experience. Workshop includes latest updates on: Singapore Financial
      275 words
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      Lock icon Page 2 Advertisements Column 2
      66 2 e i 4 0 Va TURNING PASSION INTO OPPORTUNITY Dream to be an entrepreneur with passion for children and education Seminar Information Time 2-5pm Saturday, 22 nd August 2015 Place TKP Conference Centre Raffles Place 55 Market Street #03-01 Singapore *****1 (65) 6397 6117 eyelevelfranchise.com 0/ YEARS OF INSPIRING EDUCATION
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      31 5 2 If you're looking for a landed home with a large enough driveway turn to the Print Classified Properties section. To advertise, call the Print Classified Hotline: 1800-289 9988. Own cars?
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    • Advertisement
      Lock icon Page 5 Advertisements Column 2
      38 5 X 4 6/ m ,r- n\ rvQep HOROLOGICAL LAB i THE HOURGLASS SINGAPORE PARAGON MORE PASSION TEL: 65-6735 6466 ION ORCHARD-L'ATELIER TEL: 65-6509 9268 KNIGHTSBRIDGE MALMAISON TEL: 65-6884 8484 WWW.MBANDF.COM kualalumpur PAVILION SHOPPING MALL TEL: 603-2148 8930 WWW.THEHOURGLASS.COM
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Noble avoiding real issues: critics
      805 6  -  Stock hits 11-year low amid renewed selling pressure By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore SHARES in Noble Group came under renewed selling pressure on Tuesday as critics shrugged off the commodities trader’s latest effort to shore up investor confidence. Commenting on Noble’s Investor Day effort
      Source: SunGard  -  805 words
    • Article
      Lock icon YuuZoo buys key assets of China mobile game developer
      366 6  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore MAINBOARD–LISTED social e-com-merce firm YuuZoo on Tuesday said it has acquired the key assets of Shanghai-based mobile games developer Camigo Media: which include 11 mobile games, user data of over 26 million users and the
      366 words
    • Article, Illustration
      Lock icon CEFC: Discussions on JVs still ongoing
      514 9  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore CEFC International, the fuel trader whose share price has shot up by more than ten-fold since mid-July, said in an update on Tuesday evening that discussions on its potential joint ventures are still ongoing. “No definitive terms or
      Source: Bloomberg  -  514 words
    • Article, Illustration
      Lock icon Aspial raising up to S$75m in its first retail bond offer
      744 9  -  Group also says SGX has no objection to its proposed listing of Australia and Malaysia real estate businesses By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore SINGAPORE-LISTED Aspial Corporation, whose diverse business portfolio spans real estate, jewellery and financial services, is
      744 words
    • Article
      Lock icon Governance and Transparency Index 2014 – the full rankings
      6616 10 Governance and Transparency Index 2014 the full rankings RANK 2015 COMPANY NAME BASE GTI 2015 SCORE ADJUSTMENTS FOR BONUSES PENALTIES OVERALL GTI2015 SCORE OVERALL GTI2014 SCORE RANK 2014 1 SINGAPORE TELECOMMUNICATIONS LTD 86 32 118 115 2 2 SINGAPORE EXCHANGE LTD 86 27 113 112 4 3 KEPPEL CORP LTD
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    • Article, Illustration
      Lock icon Pushing towards a new frontier
      949 11  -  GTI 2015 reveals larger effects of the 2012 Code of Corporate Governance COMMENTARY By Lawrence Loh, Susan See Tho T Lawrence Loh is Director, Centre for Governance, Institutions and Organisations as well as Deputy Head and Associate Professor of Strategy and Policy at NUS Business
      Source: NUS  -  949 words
    • Article
      Lock icon How scoring is done
      273 11 THE Governance and Transparency Index (GTI) assesses companies on their corporate governance practices, as well as the timeliness, accessibility and transparency of their financial results. The GTI score comprises two components: the base score and adjustments for bonuses and penalties. Companies can obtain a maximum of
      273 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 12 STI Catalist Straits Times Index Aug 18,2015 3,049.65 -17.70 (-0.58%) Current streak 2 days Day high 3,084.83 Day low 3,049.65 52-week high 3,539.95 (Apr 15, 2015) 52-week low 3,049.65 (Aug 18, 2015) FTSE ST Catalist index Aug 18,2015 580.60 -14.34 (-2.41%) Current streak 3 days Day high 598.32 Day low
      63 words
    • Article, Illustration
      Lock icon Stocks continue to slip on China worries
      636 12  -  STI Index drops 0.6% as regional sentiment takes a hit with Hang Seng losing 1.4% and Shanghai Composite plunging 6.1% STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THE local stock market underwent another soft session on Tuesday with the Straits Times Index dropping 17.7
      Source: Bloomberg  -  636 words
    • Article
      Lock icon STI STOCKS
      317 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 221 -4 228/221 271 219 6.6 5592.2 CapitaLand 305 -3 312/304 379 293 11.2 3 *****.2 CapitaMall Trust 193.5 +2 195/193 228 188.5 5.6 6715.2 CityDev 895 cd -5 915/895 1095 876
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    • Article
      Lock icon MOST ACTIVE
      34 12 VOLUME Noble 99,409,300 StratechGroup 61,910,600 Resources Prima 58,455,300 Ezion 49,314,600 Great Group 40,720,400 Market volume 1,658,556,000 VALUE DBS Grp 116,266,570 UOB 98,161,556 Singtel 87,314,546 OCBC Bank 81,023,141 Noble 44,555,000 Market value 1,180,145,000
      34 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 12 Aug 18 VALUE CLOSE BT OB/OS -1150.00 -43.00 BT CADI -*****.00 -230.00 BT 10-day MA -*****.00 -115.00 FTSE ST Mid Cap 697.84 -5.47 FTSE ST Small Cap 422.27 -7.75 FTSE ST All Share 730.46 -5.02 FTSE ST China Top 178.98 -2.34 FTSE ST China 219.54 -2.06 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 12 STI FTSE ST All-Share ftse ST All-Share index Aug 18,2015 730.46 -5.02 (-0.68%) Current streak 2 days Day high 738.65 Day low 730.46 52-week high 847.98 (Apr 15, 2015) 52-week low 730.46 (Aug 18, 2015)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 12 STI MSCI EAFE MSCI EAFE Index Aug 17,2015 1,840.93 -0.01 (-0.00%) Current streak 1 day Day high 1,852.14 Day low 1,833.88 52-week high 1,949.49 (May 15, 2015) 52-week low 1,697.01 (Jan 7, 2015)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      196 12 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 8 1 0 0 0 6 8 1 Manufacturing 18 76 31 5 16 11 23 92 42 Commerce 13 32 16 2 12 2 15 44 18 Tpt/Stor/Comms 9 24 6
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    • Article
      Lock icon GAINERS
      75 12 BY CENTS CLOSE UP 52w high/low DBXT MSJAP US$ 5146 37.9 0.5 5277/4291 Lyxor MS India US$ 1660 37.9 1.7 1840/1332 Lyxor ChinaH US$ 1537 29.5 1.4 2055/1390 GLD US$ ***** 28.1 0.2 *****/***** Lizhong Wheel 49 23.5 92.2 49.5/18.3 BY PERCENTAGE CLOSE UP 52w high/low Lizhong Wheel 49
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    • Article
      Lock icon LOSERS
      75 12 BY CENTS CLOSE DOWN 52w high/low DBXT CSI300 US$ 1015 -104.0 -6.8 1471/679 Lyxor ThaiSET US$ ***** -99.8 -0.6 *****/***** DBXT Chia50 US$ 3181 -94.2 -2.1 4258/2987 DBXT MSAsExJp US$ 3260 -94.2 -2.0 4064/3260 DBXT MSTHAI US$ 1707 -89.9 -3.6 2300/1707 BY PERCENTAGE CLOSE DOWN 52w high/low Starland 3.5
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    • Article
      Lock icon UNUSUAL ACTIVITY
      81 12 VOL CLOSE($) CHANGE Lizhong Wheel 3,119.3 0.490 +0.235 +92.16 Great Group 40,720.4 0.019 -0.015 -44.12 Eucon 11,014.6 0.014 -0.006 -30.00 Nico Steel 50.1 0.089 -0.029 -24.58 Jadason 500.0 0.012 -0.003 -20.00 Starland 651.3 0.035 -0.125 -78.13 Resources Prima 58,455.3 0.095 -0.014 -12.84 ITE Electric 379.8 0.045 -0.008 -15.09
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    • BROKERS’ TAKE
      • Article
        Lock icon Property Development and Investment
        109 12 Neutral CIMB Research, Aug 17 July 2015’s primary residential sales of 1,594 units (ex-ECs) was triple of that a year ago, thanks to the boost by High Park Residences which saw an 85 per cent take-up rate and made up 73 per cent of the month’s
        109 words
      • Article
        Lock icon Midas Holdings
        146 12 Hold Aug 18 close: S$0.27 Target price: S$0.31 OCBC Inv Research, Aug 18 Midas’ 2Q15 revenue grew 11.3 per cent y-o-y to 374.3 million yuan (S$82.4 million), driven by higher revenue from its aluminium alloy extruded products division, which grew 13.5 per cent to 370 million yuan. Overall
        146 words
      • Article
        Lock icon Overseas Education
        226 12  -  Compiled by Andrea Soh Sell Aug 18 close: S$0.73 Target price: S$0.70 RHB Research Institute Singapore, Aug 18 OEL’s 2Q15 results were in line with expectations. 2Q15 Patmi fell 5 per cent y-o-y to S$5.2 million, bringing 1H15 Patmi to S$10.9 million, which made up 49 per cent
        226 words
    • Article
      Lock icon SGX ETFs
      109 12 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 309 -3 1135 313/309 355/309 309/310 IS MS INDIA US$ US737 -5 139 743/734 1000/696 738/741 92.1 UETF SSE50China 236 -11 78 248/235 340/150 236/237 73.8 Nikko AM STI ETF 314 -1 34 318/313
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 12 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 18,549 18,549 69,053 69,053 Manufacturing 203,922 84,153 288,075 79,157 2,124 81,281 Commerce 214,352 68,023 282,375 90,860 1,868 92,728 Tpt/Stor/Comms 150,110 3,413 153,523 171,978 281 172,259 Finance 42,026 51 42,077 333,867 9 333,877 Construction 49,222 3,122
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    • Article
      Lock icon US$ up on rate hike hopes, baht slips after blast
      397 13 CURRENCIES AFP Tokyo THE US dollar broadly rose on Tuesday as strong housing data bolstered hopes for a US interest rate hike, while the Thai baht slumped to a fresh six-year low after a deadly Bangkok bombing. In Tokyo, the
      AFP  -  397 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 13 Aug 18 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.963 4.699 0.662 5.697 47.993 101.734 0.913 8.696 3.015 1.116 74.865 34.058 1.032 9.487 0.717 23.816 26.146 0.471 0.735 Canada 1.038 4.879
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      • Article, Illustration
        Lock icon HANG SENG
        2 13
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 13
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      • Article, Illustration
        Lock icon NIKKEI
        1 13
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      • Article, Illustration
        Lock icon DOW JONES
        2 13
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 13 Aug 18 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0320 1.0328 0.7344 0.7349 Canadian dollar 1.0718 1.0723 0.7630 0.7627 Euro 1.5584 1.5589 1.1090 1.1092 NZ dollar 0.9248 0.9255 0.6581 0.6585 Sterling pound 2.1904 2.1913 1.5588 1.5592
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 13 Aug 18 S$ Bid Offer 1-month 1.4066 1.4070 2-months 1.4078 1.4082 3-months 1.4088 1.4093 6-months 1.4109 1.4117 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        389 13 Aug 18 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Aug15 *****.50 *****.50 *****.50 *****.00 *****8 *****9 Sep15 *****.00 *****.00 *****.00 *****.50 ***** ***** NIKKEI 225 INDEX FUTURES Sep15 *****.00 *****.00 *****.00 *****.00 ***** *****1 Dec15 *****.00 *****.00 *****.00 *****.00 463 ***** MSCI TAIWAN
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        200 13 Most active Aug 18 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left FTSEChinaA50 ***** MBeCW*****9 6.3 -2 6444 0.0 --1 OCBC Bk MB eCW*****1 5.5 -0.7 4130 0.2 1040 4 KepCorp MB eCW*****1 8.8 -1 3521 0.2 780 6
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 13 In local curr In S$ In US$ dy yr dy yr dy yr Aug 17 Index Change Change Change Change Change Change World Preliminary 1332.1 0.2 4.4 0.3 8.5 0.1 2.1 EAFE Preliminary 1072.6 0.2 8.7 0.2 10.2 0.0 3.7 Europe Preliminary 1487.0 0.1 7.6
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 13 Aug 18 $S Offer Bid 0vernight 0.04 0.02 1-month 0.8125 0.6875 2-months 0.875 0.75 3-months 0.9375 0.8125 Overnight mode: 0.28 US$ 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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      • Article
        Lock icon SIBOR
        36 13 Aug 18 1 mth 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 1.***** 9 mths 12 mths 1.***** SWAP Offer rates 1 mth 0.***** 3 mths 1.***** 6 mths 1.***** Source: Thomson Reuters
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      • Article
        Lock icon GOVERNMENT SECURITIES
        59 13 Aug 18 Aug 18 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.12 5-Year N*****0S 2.000 01-Jul-20 99.92 10-Year NX*****Z 2.375 01-Jun-25 97.96 15-Year NY*****E 2.875 01-Jul-29 99.78 20-Year NZ*****V 3.375 01-Sep-33 105.7 30-Year NA*****N 2.750 01-Apr-42 95.63 Note:
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 13 Aug-17 Price Net change change Last Trade Agricultural Aug-17 CBOT Soybeans (US cents/bu) 927.00 1.75 0.19% 14/09/2015 CBOT Soybean Oil (US cents/lb) 29.06 -0.02 -0.07% 14/09/2015 CBOT Wheat (US cents/bu) 500.50 -6.00 -1.18% 14/09/2015 Aug-17 LIFFE Cocoa (£/tonne) 2017.00 -3.00 -0.15% 15/09/2015 LIFFE Coffee (US$/tonne) 1704.00 -9.00 -0.53%
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      Lock icon Page 6 Advertisements Column 1
      680 6 InvestorRelationsHighlights CSE’s Net Profit Grew 23% To S$9.9 Million In 2Q15 CSE Global Limited, a leading global system integrator targeting the oil and gas, petrochemical, utilities, public infrastructure and environmental industries, announced that its second quarter net profit grew by 23.4% year-on-year to S$9.9 million, on the back of 3.8%
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      381 8 Sfr STProperty EVENTS STPROPERTY SEMINAR Grow Your Returns Through Real Estate Investment in Singapore the Asia Pacific All prices are inclusive of GST a* r 8= S3 S3 S3' Ra ATTEND OUR SEMINAR FOR A CHANCE TO WIN PRIZES WORTH r.f.* A lucky draw will be held at the end
      381 words
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  • Page 9 Advertisements
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      97 9 AccountServe A Stone Forest Company Globally Connected RSM International Stressed Over Annual with ACRA and IRAS C Get quick and reliable help today! One stop convenience with customised solutions Team of professionals with over 25 years of experience www.AccountServe.com.sg info@accountserve.com.sg T+65 6222 6868 The inspiring spectacle of Bagan begins at
      97 words
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Kim Chuan Drive site sold for S$40m
      633 14  -  34,730 sq ft site being bought by Precise Development; site zoned for Business 2 use By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore A FREEHOLD industrial site at Kim Chuan Drive has been transacted at S$40 million. The price works out to S$460 per square
      FILE PHOTO  -  633 words
    • Article
      Lock icon Currency squeeze seen punishing buyers of luxury homes in London
      619 14 BLOOMBERG London INTERNATIONAL investors who paid millions of dollars in down payments on new luxury homes in London’s biggest residential development are being squeezed between a more expensive pound and slumping real estate values. Malaysians who bought units under construction
      BLOOMBERG  -  619 words
    • Article, Illustration
      Lock icon Kepland bullish ahead of completion of IFC Jakarta Tower 2
      512 14  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore KEPPEL Land, the property unit of Keppel Corporation, celebrated the top-ping-off of International Financial Centre (IFC) Jakarta Tower Two in Jakarta’s Central Business District on Tuesday morning. Ahead of its completion in the first
      512 words
    • Article, Illustration
      Lock icon Park Hotel Group expands portfolio outside Asia
      173 14 Singapore MARTIN Hamilton-Smith, Minister for Investment and Trade, Minister for Defence industries and Minister for Veterans’ Affairs for South Australia, attended a signing ceremony on Monday in Singapore as the Park Hotel Group inked a management contract for its first hotel outside Asia.
      173 words
    • Article
      Lock icon China home prices rise for third straight month in July
      560 14 REUTERS Beijing CHINESE home prices rose for a third consecutive month in July, fuelled by a pick-up in sales and market sentiment, a rare counterpoint to a growing list of grim indicators in the world’s second largest economy. Average new
      REUTERS  -  560 words
  • Page 14 Advertisements
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      48 14 Expression of Interest Joint Venture for logistic/warehouse facilities operation Seeking established operator for logistic/warehouse operation Single storey warehouse space atTuas South Land size approx. 80,000 sqft Warehouse space approx. 50,000 sqft Ceiling height approximately 11m T C Logistics Hub Pte Ltd Please call Owner 9144 0027/ 8101 6699
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      1536 15 A Special Feature Brought to You By Singapore Management University Optimising the crowd with smart technologies SMU’s Professor Lau Hoong Chuin is leading a team to solve urban problems of crowds, queues, and congestion CITIES are chaotic constructs, pulsing with the ebb and flow of human beings and vehicles. Making
      1,536 words
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon Asia countries move to claw back undeclared wealth parked in S’pore
      699 16 Indonesia, India among nations trying to recoup funds from abroad BLOOMBERG Singapore Singapore-based wealth managers, already under pressure from a global move towards tax information sharing, face a more immediate threat as Asian countries including Indonesia and India look
      BLOOMBERG; FILE PHOTO  -  699 words
    • Article
      Lock icon Nomura appoints Harry Ng as new head of Asia ex-Japan trust
      229 16  -  By Caithlin Ng caithng@sph.com.sg Singapore GLOBAL investment bank Nomura has appointed Harry Ng as head of Nomura Trust Company (Singapore) Ltd (NTS) and head of wealth planning strategy solutions of Asia ex-Japan. Mr Ng, who holds a Master’s degree
      229 words
    • Article
      Lock icon Norway SWF cuts off 4 palm oil-linked firms
      279 16 AFP Oslo NORWAY’S sovereign wealth fund announced on Monday it was divesting from four large Asian companies over the environmental damage their palm oil activities have on tropical forests. The world’s largest public investment fund, managing 7.15 trillion kroner (S$ 1.2 trillion),
      AFP  -  279 words
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      282 16 World Amateur Golfers Championship 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 PUMA Golf polo shirt, a PUMA Cobra golf cap and more.
      282 words
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  • ENERGY & COMMODITIES
    • Article
      Lock icon Petrobras may need to pay US$1.6b in penalties
      719 17 It expects to face largest fines ever levied by US authorities in a corporate corruption investigation REUTERS Rio de Janeiro BRAZIl’S Petrobras may need to pay record penalties of US$1.6 billion or more to settle US criminal and civil probes into its
      REUTERS  -  719 words
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      118 17 Enjoy the best of Switzerland before you even arrive. Discreet service. Fine regional cuisine. Warm hospitality. Thanks to our direct flight from Singapore to Zurich, it's easy to fall in love with Switzerland before you even catch a glimpse of the Alps. Find out more on swiss.com l.V r wmm
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  • TECHNOLOGY
    • Article
      Lock icon End of phone subsidies masks sales slowdown
      594 18 Analysts warn investors of distortion as US wireless companies shift to instalment plans BLOOMBERG London THE heavy discounting used by US wireless companies to get consumers hooked on pricey smartphones is going away boosting near-term results while masking weakness in the industry’s main
      BLOOMBERG  -  594 words
    • Article
      Lock icon Android update codenamed Marshmallow
      204 18 AFP San Francisco GOOGLE has given a name to its soon-to-be-released operating system for its Android mobile devices: Marshmallow. The moniker for the 6.0 version of the dominant mobile computing system follows a tradition of using sugary treats for Android including Lollipop (5.0), KitKat (4.4), Jellybean
      AFP  -  204 words
    • Article, Illustration
      Lock icon Macy’s tests chutes, tablets in dressing rooms to repel Amazon
      795 18 BLOOMBERG San Francisco AS online giant Amazon.com Inc charges into the US$300 billion US apparel market, Macy’s Inc is running for the dressing room. Even Macy’s acknowledges that there’s little it can do to keep customers from shopping online for
      BLOOMBERG; PHOTO: BLOOMBERG  -  795 words
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      218 18 SINGAPORE’S BIGGEST IT. AND CONSUMER ELECTRONICS EXHIBITION x i Vm comex2ois 3-6 SEP V TECH SHOWCASE SUNTEC SINGAPORE L3,11am 9pm L4 L6,12-9pm Lenovo YOGA 3 Pro The Lenovo YOGA 3 Pro is thinner, lighter, and better than ever with four different ways for you to do what you want with
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      87 18 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices TENDER NOTICE (Tender reference No. ASF-06-008) Japan International Cooperation System (hereinafter referred to as “JICS”), for and on behalf of the Asia-Europe Foundation (hereinafter referred to as “ASEF”), will hold a tender for the procurement of warehousing and emergency operation services
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      24 18 Buy new musical instruments or put up your old ones for sale in CLASS 72 To advertise, call the Print Classified Hotline: 1800-289 9988
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  • CONSUMER
    • Article, Illustration
      Lock icon Amazon won’t tolerate ‘callous’ management practices, says Bezos
      1161 19 Responding to NYT article criticising ‘bruising workplace’, he urges affected employees to contact him directly NYT New York FOR 20 years, Amazon has revelled in its toughness. “Work hard” are the first two words of a company motto. An oft-repeated line from
      NYT; PHOTO: NYT  -  1,161 words
    • Article
      Lock icon US firms see shift in traditional staff reviews
      964 20 GE is joining the ranks of Accenture, Adobe and Gap by piloting a big shift in the way it handles evaluations WP Washington LATELY, a small but growing number of major US companies, including Accenture, Adobe and Gap, have been saying goodbye
      WP  -  964 words
    • Article, Illustration
      Lock icon From photos to stem cells, Fujifilm finds a second life
      510 20 BLOOMBERG Tokyo DURING a recent magazine shoot in Japan, Fujifilm Holdings Corp’s chairman, Shigetaka Komori, posed in a white lab coat, wielding a test tube in his hand. Mr Komori is no scientist, but the image embodies the Japanese brand’s
      BLOOMBERG; PHOTO: BLOOMBERG  -  510 words
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      275 19 NUS National University of Singapore Department of Building School of Design Environment Master of Science in Project Management with Project Finance Specialisation Admission to January 2016 Intake Applications are invited from investors, lenders, consultants, government officials, lawyers, and other professionals who are involved in securing project financing for infrastructure projects
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      150 19 SINGAPORE’S FINEST SERVICED OFFICES Fully furnished prestigious offices Business registration offices available Dedicated receptionist answering your calls the way you would like Meeting rooms, bilingual secretaries Global IT infrastructure 5 days free at any location across the globe per month Flexible lease terms from just 1 month VIRTUAL OFFICES COWORKING
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      166 20 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. EXQUISITE MOONCAKE COLLECTION REFLECTION OF TIMELESS
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      19 20 a www.omy.sg WIN exclusive movie premiums! HITMAN: AGENT 47 HITMAN m bMOSOI 0M01M7 03.:0 0 SCAN JOIN more (fflshowbiz.omy.sg
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      19 20 Home prices can dropfurther says Khaw Boon Wan in ZB interview To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Housing starts rise in July to highest level in nearly eight years
      724 21 Residential starts climbed 0.2 per cent from the previous month to a 1.21 million annualised rate LATEST US DATA BLOOMBERG Washington NEW-HOME construction in the US climbed in July to the highest level in almost eight years, indicating
      BLOOMBERG; PHOTO: BLOOMBERG  -  724 words
    • Article
      Lock icon ‘Impossible trinity’ ends in China as PBOC allows freer yuan
      874 21 BLOOMBERG Beijing IN giving markets a greater say in setting the yuan’s level, central bank governor Zhou Xiaochuan is bowing to Nobel Prize-winning economist Robert Mundell’s maxim that a country can’t maintain independent monetary policy, a fixed exchange rate and
      BLOOMBERG  -  874 words
    • Article
      Lock icon China’s richest investors cash out of stock market as masses pile in
      661 21 BLOOMBERG Hong Kong THE wealthiest investors in China’s equity market are heading for the exits. The number of traders with more than 10 million yuan (S$2.2 million) of shares in their accounts shrank by 28 per cent in
      BLOOMBERG  -  661 words
    • Article
      Lock icon US inventories cast cloud on second-half growth
      569 22 Robust restocking by businesses has not been matched by strong sales growth, leaving the inventory-to-sales ratio at a near six-year high REUTERS Washington EFFORTS by US businesses to whittle down a huge inventory stockpile could weigh on production over the second half of
      REUTERS  -  569 words
    • Article, Illustration
      Lock icon Big Oil funds campaign against billionaire climate-change activist
      908 22 BLOOMBERG Los Angeles OIL companies that bankrolled a US$9.7 million effort in 2014 to block laws against fracking in California now are focusing their sights on Tom Steyer, the billionaire hedge-fund founder turned climate-change activist. The top individual political donor in the
      BLOOMBERG; PHOTO: BLOOMBERG  -  908 words
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      140 21 GLOBAL-ASIA LEADERSHIP ACCELERATOR PROGRAMME DO YOUR EMERGING LEADERS HAVE WHAT IT TAKES TO LEAD IN A GLOBALISING ASIA? As businesses cross borders, the need for talent and leaders who can do likewise has intensified. Designed as a measure for effective intervention, the Global-Asia Leadership Accelerator Programme seeks to fast-track the
      140 words
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      198 22 Misplaced your USB drive somewhere? Lost your work due to a power surge? Family photos corrupted by a computer virus? THE BUSINESS TIMES Hij'cfej o& \AiorK Don't be a victim of data loss. Subscribe to The Business Times and safeguard your PC or Mac with Acronis True Image Unlimited for
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  • TRANSPORT
    • Article
      Lock icon Piracy, robbery and hijacks a persistent problem
      741 23  -  S-E Asia is a hotspot, driven by demand for illicit oil and an established black market STRAIT TALK BY DAVID HUGHES THE recent hijacking of the Singapore-regis-tered tanker Joaquim and the theft of its fuel oil cargo worth nearly S$1 million is an
      741 words
    • Article, Illustration
      Lock icon Takata air-bag users VW, Tesla may join US recalls
      499 23 BLOOMBERG Tokyo VOLKSWAGEN AG and Tesla Motors Inc are the only carmakers that have avoided US recalls while continuing to use Takata Corp air-bag inflators, which have triggered a global safety crisis. Takata has produced 887,055 air-bag inflators for Volkswagen since
      BLOOMBERG  -  499 words
    • Article
      Lock icon Uber sparks car sales boom in India
      439 23 BLOOMBERG Mumbai UBER Technologies Inc has posed a threat to car sales by enticing car owners to ditch their keys. In India, its popularity has sparked a vehicle boom instead. Maruti Suzuki India Ltd has seen a surge in demand for its DZire
      BLOOMBERG  -  439 words
    • Article
      Lock icon Indonesia aviation hurt by staff shortage
      479 24 It scores poorly in 2014 safety audit by ICAO as the country struggles to cope with the expansion of air travel REUTERS Toronto INDONESIA scored poorly on a 2014 safety audit by the UN aviation agency largely because its Ministry of Transportation is understaffed,
      REUTERS  -  479 words
    • Article, Illustration
      Lock icon Rescuers reach Trigana Air crash site, begin retrieval ops
      521 24 NYT Jakarta INDONESIAN rescue teams on Tuesday reached the crash site of a commercial aircraft that went down over the weekend in the remote eastern part of the country, killing all 54 aboard, officials said. All bodies have been found, said
      NYT; PHOTO: AFP/BASARNAS  -  521 words
    • Article
      Lock icon India’s IndiGo confirms order for 250 Airbus planes
      308 24 BLOOMBERG New Delhi INDIGO, India’s biggest airline, has firmed up an order to buy as many as 250 Airbus Group SE A320neo singleaisle jets, giving the European planemaker its biggest ever order by number of aircraft. With the order, Airbus has a
      BLOOMBERG  -  308 words
  • Page 23 Advertisements
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      1583 23 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices (Corporate Office: No. 254-260Avvai Shanmugam Salai Wing 2-C Royapettah, Chennai 600 014, India) BALANCE SHEET AS AT 31 MARCH 2015 (Rs in thousands) As at 31.03.2015 As at 31.03.2014 CAPITAL LIABILITIES Capital 480 29 17 464 84 85 Reserves and Surplus
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    1794 25 MONTREAL 10 120 29/7 30/7 4/8 MONTREAL 10 120 29/7 30/7 4/8 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) SIN PKL KUC KK JKT SUR BRIGHT CORAL 6 60 26/8 27/8 30/8 NOBLE CORAL 78 60 5/9 6/9
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      103 25 Experienced sh;p maintenance services wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 SHIPPING TIMES Make A Splash In The Maritime World Via s^Smaritime.coM Ahoy there! If you are in a business pertaining to any sector of the maritime industry,
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  • OPINION
    • Article
      Lock icon Tianjin catastrophe raises disturbing questions on safety, China’s urbanisation
      551 26 THE huge explosions that ripped through the northern Chinese port city of Tianjin last Wednesday night have not only thrown the spotlight squarely on the country’s abysmal workplace safety record but also raised anew longstanding questions about aspects of China’s urban
      551 words
    • Article, Illustration
      Lock icon Abe’s speech: moving on without a sense of closure
      823 26  -  THE BOTTOM LINE By Frank Ching T The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 PRIME Minister Shinzo Abe failed to grasp the nettle when he delivered a much-tout-ed address on the 70th anniversary of
      823 words
    • Article, Illustration
      Lock icon GOP candidates favour sanctions in foreign policy
      1166 26  -  This aggressive strategy isolates and weakens US enemies through economic sanctions, but may exact greater costs on American firms than on the target state. BY HARISH MEHTA BY HARISH MEHTA T This is part of a series on US foreign relations. The writer,
      PHOTO: AFP  -  1,166 words
    • Article, Illustration
      Lock icon Activist labour unions may check deflationary tendencies
      789 27  -  COMMENTARY By Anthony Rowley WHAT connection could there be between the advent of Jeremy Corbyn as prospective leader of Britain's Labour Party and the ever-spreading deflationary influences that appear to be afflicting the global economy nowadays, or with financial phenomena such as rising
      789 words
    • Article
      Lock icon Yuan devaluation likely an orchestrated move to join SDR
      827 27  -  By David Marsh T The writer is managing director of the Official Monetary and Financial Institutions Forum OMFIF AFTER last week’s changes in Chinese arrangements for handling the renminbi’s exchange rate, the contours of the currency’s expected entry into the Special
      OMFIF  -  827 words
    • Article, Illustration
      Lock icon Scouring accounting footnotes to prevent tunnelling
      911 27  -  Framework needed to tackle insiders’ stealing of corporate wealth.BY wealth.BY KEE KOON BOON T The writer is an accounting lecturer at the Singapore Management University and the incoming chief investment officer at ASX-listed 8i Holdings Ltd IMAGINE that the S-chip (Singa-pore-listed China stocks) fraud
      PHOTO: REUTERS  -  911 words
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon Cancer survivor marks SG50 with 50-hour hand-cycle charity ride
      397 28  -  William Tan aims to raise S$50,000 for needy local and Thai children By Caithlin Ng caithng@sph.com.sg Singapore IN commemoration of Singapore’s 50th year of independence, Stage 4 leukaemia survivor William Tan will hand-cycle and ferry a child in an attached chariot
      PHOTO: WILLIAM TAN  -  397 words
    • Article, Illustration
      Lock icon Mormon founder’s 34 wives move artist
      898 28 NYT New York IN Leslie O Peterson’s mind, Fanny Alger’s almond-shaped face, with its soulful green eyes and rosebud mouth, is framed by close-cropped brown hair and perched atop a long, slender neck. That’s the way Peterson, a Utah artist, painted the 16-year-old Alger,
      NYT; PHOTO: NYT  -  898 words
    • Article, Illustration
      Lock icon Fancy paying what you want for dinner?
      854 28 NYT New York HOW often have you bought something you felt was not worth the money? What if you could set the price? What factors would influence your number? For years, behavioural scientists have studied such questions. They often look at a model
      NYT; PHOTO: NYT  -  854 words
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  • Page 28 Miscellaneous
    • Miscellaneous
      Lock icon Page 28 Miscellaneous Column 1
      309 28 CRYPTIC CROSSWORD Across 7 Leading at home with assurance (2,5) 9 Military unit ordered to install equipment (7) 10 Turn of phrase fool almost used facing Bond’s boss (5) 11 Hoax victim taken from pool, frail, shivering (5,4) 12 Gent in best hotel resolved to live more frugally (7,4,4) 13
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      123 29 We understand how much you value time, so we did the legwork for you. astaooe ■i'1% m j >Vr Japan researchers develop scanner to detect marbled meat In cattle Banks likely to feel the heat of Savings Bonds SINGAPORE How dinner with Joseph Schooling became a $25,000 donation I w
      123 words
  • EXECUTIVE MONEY
    • Article, Illustration
      Lock icon Top currency trade stuck in a Fed-induced rut
      598 29 US$ has been hovering around its short-and medium-term averages against the euro since late June BLOOMBERG New York TRADING the world’s most widely used currency pair has become a thankless chore for investors. The dollar has been hovering around its short- and
      BLOOMBERG; FILE PHOTO  -  598 words
    • Article
      Lock icon Bullish investors buying Japan and selling US shares
      614 29 BLOOMBERG Sydney FROM profits to policy, the things that are working against US stocks are bolstering Japanese equities. So say bullish investors from BlackRock to Baring Asset Management, even with the Topix index near an eight-year high, as earnings growth strengthens an
      BLOOMBERG  -  614 words
    • Article, Illustration
      Lock icon Buying stocks? Just follow the leader
      696 30 Foreign investors in China are mimicking statebacked group tasked with propping up prices REUTERS Hong Kong SOME foreign investors have found a new and simple way to make money from China’s dysfunctional stock markets by dispensing with market research and playing “follow the leader”
      REUTERS; PHOTO: BLOOMBERG  -  696 words
    • Article, Illustration
      Lock icon Hedge funds ripe for the picking
      881 30 BLOOMBERG New York ONE of the biggest buyers of US stocks has turned so bearish that a growing number of investors say it can only mean one thing: buy. Hedge funds that aim to profit from global economic trends a group that oversees some
      BLOOMBERG; PHOTO: AFP  -  881 words
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      51 30 emirates.com/sg Say hello to free Wi-Fi in the sky Now it’s free to connect on most of our A380 aircraft. Or buy 500MB for just USD1. World-class service Earn Skywards Miles Enjoy a stopover in Dubai For more details, visit emirates.com/sg, call us at 6622 1770 or contact your travel
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