The Business Times, 26 August 2015

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Microfilm: NL33587
Total Pages: 32
1 32 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 26,2015
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  • DAILY DIGEST
  • Article, Illustration
    Lock icon Polling Day on Sept 11
    1171 1  -  Nomination Day set for Sept 1, with all 89 seats in 29 constituencies for the General Election likely to be contested By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore MARK Friday, Sept 11 on your calendar. That is the day when up to 2.46 million eligible Singaporean
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  • Article
    Lock icon MARKETS
    27 1 Tuesday Change STI 2,886.29 +42.90 KL COMP 1,563.94 +31.80 NIKKEI 225 17,806.70 -733.98 HANG SENG 21,404.96 +153.39 SHENZHEN B 1,014.07 -45.81 DOW (12noon EDT) 16,211.71 +340.36
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  • Page 1 Advertisements
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      Lock icon Page 1 Advertisements Column 1
      78 1 8 "*****1 *****4 COLLABORATIVE EDGE New space for startups in Prinsep St COMPANIES MARKETS 10 Watch out for the BT Watch Supplement 2015 this Friday! V L '—a m Ml RACING IN STYLE MILLE MIGLIA CHOPARD BOUTIQUES: #01 -03 Takashimaya S.C., Tel, 6733 8111 B1 -107 The Shoppes at Marina
      78 words
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      23 1 TURBULENCE AHEAD Coast is far from clear for Asian equities EXECUTIVE MONEY 32 SINGAPORE GE Govt does more for child-raising top stories 4
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      Lock icon Page 1 Advertisements Column 3
      8 1 SPECIAL REPORT Championing sustainability APEX CSR AWARDS 22-26
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  • SINGAPORE GENERAL ELECTION
    • Article, Illustration
      Lock icon Singapore's electoral system
      837 2  -  President Tony Tan Keng Yam, acting on the advice of Prime Minister Lee Hsien Loong, dissolved Singapore’s 12th Parliament on Tuesday, Aug 25. According to the Writ of Election, Nomination Day will take place on Sept 1 and Polling Day on Sept 11. As things stand, all
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    • Article, Illustration
      Lock icon Parties to the fray
      467 3  -  BT INFOGRAPHICS GE2015 By Lee U-Wen As many as 10 political parties are expected to take part in Singapore’s 15th General Election, the highest number in Singapore’s history. The ruling People’s Action Party will contest all 89 available seats, while nine opposition parties have staked their
      BT Graphics: Sarah Loyola  -  467 words
    • Article, Illustration
      Lock icon SDP unveils first two candidates for GE
      562 3  -  One is administrator of Ren Ci Nursing Home (Moulmein); the other is an accounts manager By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore THE Singapore Democratic Party (SDP) unveiled its first two candidates on Tuesday, Chong Wai Fung and Khung Wai Yeen. They were introduced
      PHOTO: LAU FOOK KONG/THE STRAITS TIMES  -  562 words
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  • Page 3 Advertisements
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      328 3 s A s m m2 ft K 8 a > IT K At Aviva Investors, we believe it s time to think e i^y differently. That s why our entire organisation is united behind one common goal -to deliver the specific outcomes that matter most to today's investor. By harnessing
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  • TOP STORIES
    • Article, Illustration
      Lock icon China cuts rates and reserve ratio after stocks plunge again
      805 4 Economists say move aimed at real economy rather than stock markets REUTERS Shanghai CHINA’S central bank cut interest rates and lowered the amount of reserves banks must hold for the second time in two months on Tuesday, ratcheting up support
      REUTERS; PHOTO: REUTERS  -  805 words
    • Article
      Lock icon Abu Dhabi’s IPIC mulls pulling out of 1MDB’s debt plan
      591 4  -  By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore AILING 1Malaysia Development Berhad (1MDB), a state-backed firm at the heart of a huge political scandal in Malaysia, is set for more financial pain amid signs that Abu Dhabi’s International Petroleum Investment Company (IPIC)
      591 words
    • Article, Illustration
      Lock icon Govt does more to defray early child-raising costs
      831 4  -  -4 Baby Bonus cash gift up by S$2,000; Medisave Grant for Newborns goes up by S$1,000 -4 By Kelly Tay -4 kellytay@sph.com.sg @KellyTayBT -4 Singapore WHILE the government acknowledges that financial incentives are not the reason Singapore couples choose to have children,
      PHOTO: CHEW SENG KIM/THE STRAITS TIMES  -  831 words
    • Article
      Lock icon Jurong Region MRT Line may be connected to Circle Line: Lui Tuck Yew
      635 4  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore THE Jurong Region MRT Line might be connected to the Circle Line to improve rail connectivity between the western parts of Singapore and the city centre. This will support future developments
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Defensive stocks safe but US bonds safer
      1036 6  -  The biggest lesson of the market crash is how S’pore asset owners will not be spared when investors flee Asia HOCK LOCK SIEW BY CAI HAOXIANG haoxiang@sph.com.sg @HaoxiangCaiBT NOT too long ago, the world was caught up in the “search for yield” story.
      Compiled from Bloomberg, Aug 24  -  1,036 words
    • Article
      Lock icon Gold’s strength may prove short-lived
      620 6  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THE latest strength in gold prices looks set to be short-lived, given that it mainly reflects investors expecting a rate hike in December rather than in the coming month, analysts say. But there could be more demand for gold
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    • Article
      Lock icon Tiong Woon full-year profit falls 46%
      336 7  -  Fall in business across all segments hits revenue and margins; group continues to manage costs By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore TIONG Woon Corporation, an engineering and marine transportation company listed on the mainboard, reported on Tuesday a 46 per cent slump in its
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    • Article, Illustration
      Lock icon Keppel, MPA, and Wilmar CSR award winners
      402 7  -  By Ong Hui Qun ohuiqun@sph.com.sg Singapore KEPPEL Land, Wilmar International and the Maritime and Port Authority of Singapore (MPA) have clinched top awards for demonstrating social responsibility and sustainability excellence in their business practices. At the Singapore Apex Corporate Social Responsibility (CSR) Awards
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    • CORPORATE DIGEST
      • Article
        Lock icon Silverlake Axis
        329 7 RESPONDING to a Singapore Exchange query on the “unusual price movements” of its shares on Aug 21, Silverlake Axis said on Tuesday that “a report, dated 20 August 2015, was recently disseminated online making various allegations regarding the historical performance and operations of the group”. Silverlake said the
        329 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 8 STI Catalist Straits Times Index Aug 25,2015 2,886.29 +42.90 (+1.51%) Current streak 1 day Day high 2,926.76 Day low 2,808.31 52-week high 3,539.95 (Apr 15, 2015) 52-week low 2,843.39 (Aug 24, 2015) FTSE ST Catalist Index Aug 25,2015 543.43 +6.06 (+1.13%) Current streak 1 day Day high 545.30 Day low
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    • Article, Illustration
      Lock icon STI gain a technical rebound: analysts
      633 8  -  Trading volumes jump to 2.14b shares as the benchmark index adds 1.5 per cent to end a six-day losing streak TTSTOCKS By Melissa Tan melissat@sph.com.sg @MelissaTanBT LARGE-CAPS and offshore counters led a rebound in local shares on Tuesday that many viewed as a technical
      Source: Bloomberg  -  633 words
    • Article
      Lock icon STI STOCKS
      307 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 220 -1 223/214 271 214 6.6 5566.9 CapitaLand 279 -1 286/275 379 275 10.2 3.2 *****.9 CapitaMall Trust 189 +2.5 192/184.5 228 184.5 5.7 6559.1 CityDev 855 +15 877/835 1095 835 10.3
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 8 STI FTSE ST All-Share ftse ST All-Share index Aug 25,2015 688.42 +11.49 (+1.70%) Current streak 1 day Day high 694.83 Day low 668.49 52-week high 847.98 (Apr 15, 2015) 52-week low 676.93 (Aug 24, 2015)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE Index Aug 24,2015 1,696.81 -59.84 (-3.41%) Current streak 7 days Day high 1,759.70 Day low 1,679.90 52-week high 1,949.49 (May 15, 2015) 52-week low 1,696.81 (Aug 24, 2015)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 10 2 3 0 0 0 10 2 3 Manufacturing 64 43 26 11 14 10 75 57 36 Commerce 25 15 13 7 3 4 32 18 17 Tpt/Stor/Comms 24 7 7
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    • Article
      Lock icon GAINERS
      76 8 BY CENTS CLOSE UP 52w high/low DBXT Vietnam US$ 2230 119.2 4.0 3100/2139 UOB 1925 70.0 3.8 2505/1851 Lyxor ChinaH US$ 1365 53.3 2.9 2055/1304 Keppel Corp 699 50.0 7.7 1105/632 Lyxor Europe US$ 1372 44.9 2.4 1583/1332 BY PERCENTAGE CLOSE UP 52w high/low New Silkroutes 0.2 100.0 0.1
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    • Article
      Lock icon LOSERS
      75 8 BY CENTS CLOSE DOWN 52w high/low DBXT Nifty US$ *****-1155.0 -6.4 *****/***** DBXT MSEurope US$ 5422 -508.9 -6.3 6300/5366 DBXT MSJAP US$ 4712 -462.6 -6.5 5277/4291 DBXT STGLDv US$ 2817 -326.6 -7.6 3382/2817 SPDR DJIA US$ ***** -277.6 -1.2 *****/***** BY PERCENTAGE CLOSE DOWN 52w high/low ISDN W*****0 0.6
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    • Article
      Lock icon UNUSUAL ACTIVITY
      83 8 VOL CLOSE($) CHANGE YZJ Shipbldg RMB 0.1 4.690 +0.190 +4.22 C&G Env Protect 1,004.7 0.200 +0.035 +21.21 Global Palm Res 334.3 0.155 +0.011 +7.64 Teckwah 267.8 0.310 -0.040 -11.43 TEE Land 4,250.0 0.200 +0.005 +2.56 Progen 80.1 0.115 +0.025 +27.78 KS Energy 267.2 0.305 +0.055 +22.00 AnnAik 500.0
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    • BROKERS’ TAKE
      • Article
        Lock icon Thai Beverage
        144 8 Buy Target price: S$0.83 Aug 25 close: S$0.71 OCBC Inv Research, Aug 25 LAST week’s explosion in Thailand drove concerns over the prospects for the country’s tourism industry. Local companies in the hospitality and airline industries inevitably saw share price declines, and are reportedly facing some postponement requests
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      • Article
        Lock icon Wilmar International
        204 8 Sell Target price: S$2.27 Aug 25 close: S$2.78 Religare, Aug 24 We initiate coverage on wilmar. The company’s intense capex programme (US$6.5 billion over the last five years) has delivered poor returns. Its core refining business is threatened by severe overcapacity and driven by volatile trading gains. Wilmar
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      • Article
        Lock icon GSS Energy
        168 8  -  Compiled by Melissa Tan Hold Target price: S$0.09 Aug 25 Close: S$0.079 RHB, Aug 25 Pertamina cancelled its contract with the village cooperative (KUD) operating the Dandangilo-Wonocolo field due to the latter’s non-compliance with contract terms. As this KUD was GSS Energy’s contractor, the cooperation agreement broke down,
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    • Article
      Lock icon MOST ACTIVE
      34 8 VOLUME Noble 131,581,600 Ezra 117,944,600 StratechGroup 84,501,600 Ezion 56,530,100 Genting Sing 51,696,900 Market volume 2,302,337,000 VALUE DBS Grp 257,325,029 Singtel 184,397,722 Keppel Corp 161,131,240 OCBC Bank 157,455,189 UOB 150,062,851 Market value 2,348,716,000
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    • Article
      Lock icon SGX ETFs
      107 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 297 +6 2925 300/287 355/287 297/299 UETF SSE50China 192 +2 216 194/187 340/150 190/192 60 DBXT MSAsExJp US$ US2983 186 -/-4064/2973 3036/-6.9 DBXT CSI300 US$ US825 -49 170 867/805 1471/679 825/828 IS MS INDIA
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Aug 25 VALUE CLOSE BT OB/OS -1688.00 +288.00 BT CADI -*****.00 +165.00 BT 10-day MA -*****.00 -169.00 FTSE ST Mid Cap 653.55 +15.39 FTSE ST Small Cap 382.46 +8.78 FTSE ST All Share 688.42 +11.49 FTSE ST China Top 164.44 +3.11 FTSE ST China 201.00 +0.95 FTSE
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 63,225 63,225 254,631 254,631 Manufacturing 279,453 67,797 347,250 188,475 1,503 189,978 Commerce 185,202 115,072 300,274 189,491 3,282 192,774 Tpt/Stor/Comms 311,619 6,931 318,550 361,064 515 361,579 Finance 61,823 191 62,014 617,081 31 617,113 Construction 23,909 17,316
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    • Article
      Lock icon Japan minister concerned about yen’s rapid rise
      395 9 CURRENCIES AFP Tokyo JAPAN’S Finance Minister Taro Aso on Tuesday warned over the yen’s rapid rise after the US dollar plunged to a seven-month low against the unit on fears over China’s economy and global growth. In Tokyo the greenback fetched 119.60 yen
      AFP  -  395 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Aug 25 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.953 4.621 0.626 5.584 47.770 101.389 0.864 8.593 3.051 1.106 74.916 33.586 1.010 9.452 0.678 23.442 25.601 0.457 0.720 Canada 1.049 4.846
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      • Article, Illustration
        Lock icon HANG SENG
        2 9
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      • Article, Illustration
        Lock icon NIKKEI
        1 9
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 9
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      • Article, Illustration
        Lock icon DOW JONES
        2 9
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 9 Aug 25 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0097 1.0106 0.7203 0.7204 Canadian dollar 1.0588 1.0601 0.7557 0.7553 Euro 1.6142 1.6155 1.1515 1.1516 NZ dollar 0.9129 0.9143 0.6512 0.6518 Sterling pound 2.2116 2.2138 1.5777 1.5781
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Aug 25 S$ Bid Offer 1-month 1.4037 1.4050 2-months 1.4049 1.4066 3-months 1.4059 1.4074 6-months 1.4085 1.4105 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        339 9 Aug 25 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Aug15 8847.50 9165.00 8310.00 8555.00 *****8 *****4 Sep15 8627.50 8910.00 8035.00 8360.00 *****7 *****9 NIKKEI 225 INDEX FUTURES Sep15 *****.00 *****.00 *****.00 *****.00 *****8 *****8 Dec15 *****.00 *****.00 *****.00 *****.00 659 ***** MSCI TAIWAN
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        205 9 Most active Aug 25 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****1 10 3.2 ***** 0.1 1980 5 UOB MB eCW*****1 14.2 5.9 ***** 0.1 2080 5 Capitaland MB eCW*****4 3 unch 7830 0.2 320 5
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 9 In local curr In S$ In US$ dy yr dy yr dy yr Aug 24 Index Change Change Change Change Change Change World Preliminary 1211.8 -3.3 -5.0 -2.5 -0.2 -2.7 -6.1 EAFE Preliminary 959.3 -5.0 -2.8 -3.2 1.6 -3.4 -4.4 Europe Preliminary 1328.0 -4.7 -3.9
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 Aug 25 $S Offer Bid 0vernight 1.00 0.50 1-month 0.875 0.75 2-months 0.9375 0.8125 3-months 1.0 0.875 Overnight mode: 1.50 US$ 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 GOVERNMENT SECURITIES
        67 9 Aug 25 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.11 102.15 102.15 5-Year N*****0S 2.000 01-Jul-20 99.9 10-Year NX*****Z 2.375 01-Jun-25 97.91 98.00 97.95 15-Year NY*****E 2.875 01-Jul-29 99.73 99.90 99.80 20-Year NZ*****V 3.375 01-Sep-33 105.76 105.70 105.60
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      • Article
        Lock icon SIBOR
        36 9 Aug 25 1 mth 1 mth 0.***** 2 mths 3 mths 1.***** 6 mths 1.***** 9 mths 12 mths 1.***** SWAP Offer rates 1 mth 1.***** 3 mths 1.***** 6 mths 1.***** Source: Thomson Reuters
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 9 Aug-24 Price Net change change Last Trade Agricultural Aug-24 CBOT Soybeans (US cents/bu) 892.75 -12.50 -1.38% 14/09/2015 CBOT Soybean Oil (US cents/lb) 26.55 -0.81 -2.96% 14/09/2015 CBOT Wheat (US cents/bu) 503.25 3.75 0.75% 14/09/2015 Aug-24 LIFFE Cocoa (£/tonne) 2040.00 4.00 0.20% 15/09/2015 LIFFE Coffee (US$/tonne) 1599.00 -20.00 -1.24%
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    • Article
      Lock icon Too early to pick up shares in developing markets: Mobius
      340 10 investors should wait for markets to stabilise instead of rushing to pick up stocks, he says MARKET TURMOIL BLOOMBERG Hong Kong MARK Mobius says investors should hold off from buying developing nation shares as a rebound from six-year lows will
      BLOOMBERG  -  340 words
    • Article
      Lock icon Rebound could be technical move
      626 10  -  COMMENTARY By Bernard Aw T The writer is a market strategist at IG Group WHILE we saw a bounce in most Asian equity markets on Tuesday, Chinese stocks continued to fall as state buying was nowhere in sight. This raised the question whether the rebound
      626 words
    • Article, Illustration
      Lock icon Collaborative workspace for startups debuts in Prinsep St
      447 10  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore A NEW collaborative workspace was unveiled in Prinsep Street on Tuesday, with plans for it to provide affordable real estate to entrepreneurs, creatives and techies, as well as to be a facilitator, fund manager and ecosystem
      PHOTO: SHAWN TEO  -  447 words
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      Lock icon Page 6 Advertisements Column 1
      83 6 Congratulations to our award winners! Our participants at INVEST Fair 2015 voted for the award categories. Thank you for visiting INVEST Fair and see you next year! *Disclaimer: You should seek advice from professional advisers and the relevant authorities before making any investment decisions. ShareInvestor Award does not speak on
      83 words
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
      255 7 AccountServe A Stone Forest Company Globally Connected RSM International Need Help with XBRL Reporting? Hrc turnaround nfi time* Over reports since 8,000 Nov 2007 *Terms conditions apply www.AccountServe.com.sgxbrlcaaccountserve.com.sg T +65 6222 6868 Burmester® surround sound system Fahrzeugeinstellungen /erbrauch 1/100km m COMAND Online multimedia system with 31.2 cm colour display ■T:
      255 words
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Weak demand seen for two industrial sites put up for sale by JTC
      843 11  -  Two other tenders that closed on Tuesday, in Tampines and Ubi industrial estates, each drew five bids and soft prices By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore TWO sites zoned for heavier industrial use or Business 2 development
      Source: JTC  -  843 words
    • Article
      Lock icon UK property values are in bubble territory again: analyst
      223 11 BLOOMBERG London UK commercial and residential property values are in bubble territory again and vulnerable to any tightening in credit markets, according to Mike Prew, an analyst at Jefferies Group LLC. Investors have been paying too much for real estate outside
      BLOOMBERG  -  223 words
    • Article, Illustration
      Lock icon Norway fund among bidders for Asia Square Tower 1: sources
      457 12 Capitaland and Keppel Land said to have also made offers for the property BLOOMBERG Singapore NORWAY’S sovereign wealth fund is among bidders for BlackRock Inc’s Asia Square Tower 1, an office building in Singapore’s central business district, according to people
      BLOOMBERG; SPH FILE PHOTO  -  457 words
    • Article
      Lock icon BlackRock to start financing US rental-home investors: sources
      489 12 BLOOMBERG Washington BLACKROCK Inc is the latest company planning to finance investors who buy single-family homes, capitalising on soaring rental demand as the US homeownership rate sits at a five-dec-ade low. BlackRock, the world’s largest money manager, will buy loans from a
      BLOOMBERG  -  489 words
  • Page 11 Advertisements
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      Lock icon Page 11 Advertisements Column 1
      50 11 Expression of Interest Joint Venture for logistic/warehouse facilities operation Seeking established operator for logistic/warehouse operation Single storey warehouse space at Tuas 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 NOTICES
      50 words
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      Lock icon Page 11 Advertisements Column 2
      344 11 STPROPERTY SEMINAR Grow Your Returns Through Real Estate Investment in Singapore the Asia Pacific All prices are inclusive of GST TICKETS NORMAL 1- Day Pass $30 2- Day Pass $40 Date: Saturday Sunday 29-30 August 2015 Venue: SUNTEC Singapore Convention Exhibition Centre, Level 3 Summit 1 2, 321 322 STProperty
      344 words
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  • Page 12 Advertisements
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      295 12 World Amateur Golfers Championship SINGAPORE Join the national golf tour that allows you to compete with peers Play on one of the most prestigious golf courses in Singapore, and you could represent Singapore in the World Amateur Golfers Championship in Belek, Antalya (Turkey). The top 80 golfers will qualify for
      295 words
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  • BANKING & FINANCE
    • Article
      Lock icon China’s capital opening a ‘game changer’: DBS
      758 13 Bank says move offers one of the biggest opportunities for wealth managers as millions of rich Chinese gain access to global markets BLOOMBERG Singapore AN opening of China’s capital account is set to provide one of the biggest opportunities for wealth managers as
      BLOOMBERG  -  758 words
    • Article, Illustration
      Lock icon Rush for ringgit eases as rate offered is not as expected
      351 13  -  By Ong Hui Qun ohuiqun@sph.com Singapore THE Malaysian ringgit may be plunging to new lows of over 3.00 against the Singapore dollar, but don’t expect to get more than 2.97 at money changers. Money changers were offering rates of
      PHOTO: REUTERS  -  351 words
    • Article
      Lock icon Investors fleeing longer-dated sukuk
      677 13 BLOOMBERG Kuala Lumpur MALAYSIA’S Islamic bond investors are fleeing longer-dated sukuk as accelerating inflation adds to the risk of outflows amid a global emerging-mar-kets selloff. The difference in yields between 2025 Shariah-compliant securities and three-year debt widened 14 basis points this year to average 67 in
      BLOOMBERG  -  677 words
  • Page 13 Advertisements
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      Lock icon Page 13 Advertisements Column 1
      1671 13 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices The Bank of Tokyo-Mitsubishi UFJ, Ltd. Head Office 7-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo 100-8388, Japan. Singapore 9 Raffles Place, #01-01, Republic Plaza, Singapore *****9. CONSOLIDATED STATEMENTS OF INCOME YEARS ENDED MARCH 31, 2015 AND 2014 CONSOLIDATED BALANCE SHEETS MARCH 31,2015 AND
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Gold mines cutting output offers little relief
      668 14 When mines last trimmed operations, bullion still slid as much as 29% into a bear market BLOOMBERG London FOR most raw-material producers, less supply can mean higher prices and more profit. Not so much for gold. With bullion near a five-year low and
      BLOOMBERG; FILE PHOTO  -  668 words
    • Article
      Lock icon Oil market much better than it looks
      487 14 BLOOMBERG London THE global oil market is healthier than it looks, signalling that crude’s plunge to six-year lows has probably gone too far. While futures tumbled below US$45 a barrel in London for the first time since 2009, Morgan Stanley and Standard Chartered
      BLOOMBERG  -  487 words
    • Article
      Lock icon Firm dong weighs on Vietnam rubber exports
      431 14 BLOOMBERG Hanoi VIETNAM is set to lose out in the competition for Chinese rubber demand as the depreciation of its currency lags those of its rival exporters. The dong has been devalued three times this year and lost about 3 per cent since
      BLOOMBERG  -  431 words
  • Page 14 Advertisements
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      193 14 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 Cloud for
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  • TECHNOLOGY
    • Article, Illustration
      Lock icon Intel makes a strategic move to software for the cloud
      917 15 To remain competitive, the chip giant invests US$75m in a startup specialising in open-source cloud software NYT San Francisco INTEL, the world’s biggest maker of computer chips, has seen its future. There may not be room for some of Intel’s
      NYT; PHOTO: BLOOMBERG  -  917 words
    • Article, Illustration
      Lock icon Cancelled or suspended deals cloud Hanergy outlook
      435 15 REUTERS Hong Kong HANERGY Thin Film Power Group Ltd (HTF), which is being probed by Hong Kong regulators after its stock suddenly plunged, will have to convince shareholders about its outlook after it cut ties with its parent, which last year alone bought
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      354 15 In this day of internet age, many businesses are encumbered by managing a patchwork of printing, imaging and fax devices. Some companies spend too much time on hardware administration, supplies management and print management. This, in turn, leads to higher expenses in document management such as inventory, helpdesk procurement and
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  • CONSUMER
    • Article, Illustration
      Lock icon Toshiba’s ‘tough as nails’ target-setter
      1424 16 Ex-president Atsutoshi Nishida’s management style comes under fire in conglomerate’s accounting scandal REUTERS Tokyo TOM Scott, a former US executive at Toshiba Corp, remembers his former boss Atsutoshi Nishida as an aggressive leader who could motivate staff, but also rattle them with tough sales targets
      REUTERS; PHOTOS: AFP  -  1,424 words
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      422 16 Your newspaper subscription comes with exciting rewards! 1 i i rect iigW j THE STRAITS TIMES LIANHE ZAOBAO THE BUSINESS TIMES BERITA HARIAN THE NEW PAPER LI AN H E WANBAO TAMIL MURASU CUT OUT AND REDEEM THE FOLLOWING REWARDS! EXCLUSIVE TO DIRECT SUBSCRIBERS The Buffet® r M Hotel Singapore
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      60 17 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices Choose from Prime Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Tenders Auctions Notices Beef Up Your Finances Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your IPOs other offerings Discover Greener Pastures Call 1800 289 8822
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      729 17 r? cord life sr one chance, one choice. CORDLIFE GROUP LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number: *****2883E) NOTICE OF EXTRAORDINARY GENERAL MEETING Notice is hereby given that an Extraordinary General Meeting of Cordlife Group Limited (the “Company will be held at Auditorium 302, Level 3, NTU@one-north
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  • GOVERNMENT & ECONOMY
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      Lock icon Analysts: Soaring yen could undo Abenomics gains
      756 18  -  Finance minister hints at possible concerted forex market intervention by advanced economies; JPMorgan strategist warns that the currency could surge to 105 to the US dollar By Anthony Rowley btworld@sph.com.sg Tokyo AFTER several days of wild swings in currency and stock values, some
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    • Article
      Lock icon Birth pains of China’s ‘new normal’ growth grip the globe
      608 18 AFP Shanghai BEIJING is trying to manoeuvre the world’s second-largest economy into a “new normal” of slower expansion, but alarms have sounded over whether the transition will hit global growth as a Chinese stock collapse reverberates across markets. After decades
      AFP  -  608 words
    • Article
      Lock icon Budget deficit may fall by US$60b as revenue jumps
      555 18 Consumer confidence up more than expected in Aug; July new home sales rise LATEST US DATA REUTERS BLOOMBERG Washington THE US budget deficit is likely to fall by US$60 billion in 2015 due to strong revenue gains, the Congressional Budget Office
      REUTERS; BLOOMBERG  -  555 words
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      Lock icon Indonesia steps up efforts to protect shaky markets
      479 18 REUTERS Jakarta INDONESIA stepped up efforts to protect its battered financial markets from global volatility on Tuesday, imposing new daily limits on how much shares can fall and organising a concerted share buyback programme. President Joko Widodo’s administration has been forced to
      REUTERS; PHOTO: AFP  -  479 words
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      Lock icon Strong quarterly exports highlight China risks to German growth
      828 19 Exports rose 2.2 per cent to help economy record 0.4 per cent growth the second half of the year. BLOOMBERG, REUTERS Frankfurt GERMANY’S economic growth was led by exports last quarter, highlighting the risks to Europe’s powerhouse as a slowdown in
      the second half of the year. BLOOMBERG, REUTERS; PHOTO: BLOOMBERG  -  828 words
    • Article
      Lock icon Euro emerging as haven in market rocked by yuan devaluation
      537 19 BLOOMBERG New York THE notion that the euro could be a haven in times of turmoil seemed preposterous just a few weeks ago. Yet that’s exactly what it’s become as the world gets rocked by everything from devaluations to bear
      BLOOMBERG  -  537 words
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      100 18 ENJOY NATURE'S FINEST, WITH OUR FINEST. Transform your dining experience with Chef Kirk Westaway. >, r •m' Ranked 11 th Asia's 50 Best Restaurants 2015, sponsored by S. Pellegrino and Acqua Panna. Ranked 74 th The World's Best Restaurants 2015, sponsored by S. Pellegrino and Acqua Panna. Appointed Krug's First
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      1618 19 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices SUMITOMO MITSUI FINANCIAL GROUP, INC. Annual Report for the Year ended March 31, 2015 BOARD OF DIRECTORS AND CORPORATE AUDITORS(as of June 26, 2015) CHAIRMAN OF THE BOARD Masayuki Oku PRESIDENT Koichi Miyata CONSOLIDATED STATEMENTS OF INCOME DIRECTORS Takeshi Kunibe Jun
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  • TRANSPORT
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      Lock icon Unmanned ships to be reality soon
      829 20  -  Projects are ongoing to develop autonomous ships, but those who have been out to sea believe there are practical problems to be sorted out before these ships are deployed STRAIT TALK By DAVID HUGHES THERE are several projects bankrolled by big companies underway, aimed
      829 words
    • Article
      Lock icon Boeing eyes layoffs in satellite division
      335 20 REUTERS Washington BOEING Co on Monday told its workers that it expected to cut as many as “several hundred” jobs in its satellite business through the end of 2015 due to a downturn in US military spending and delays in commercial satellite orders. Multiple
      REUTERS  -  335 words
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      Lock icon Jet lag ‘cures’ aplenty, but none that work for all
      841 20 NYT New York RITA Gunther McGrath, a Columbia Business School professor, is one of those business travellers who does not care about delays, cancellations or navigating a new location. What does concern her is the seeming inability to conquer jet
      NYT; ILLUSTRATION: NYT  -  841 words
    • Article
      Lock icon Shipping magnate ‘very worried’ about China
      267 21 BLOOMBERG Oslo JOHN Fredriksen, the billionaire who made his fortune investing in crude tankers, said he’s “very worried” about the turmoil spreading from China and the potential fallout on global shipping markets. “It seems there are big problems in China,” Mr Fredriksen said on
      BLOOMBERG  -  267 words
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      Lock icon Air-traffic towers in US wasted US$850m: watchdog
      352 21 BLOOMBERG Washington THE federal government has wasted more than US$850 million over six years by operating inefficient air-traf-fic control towers, according to a watchdog audit. At a time of fewer flights, the efficiency of the Federal Aviation Administration’s facilities at airports ranging from
      BLOOMBERG  -  352 words
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      Lock icon Daimler still confident about China
      419 21 It pledges to keep up investments after country’s biggest stock-market rout since 2007 BLOOMBERG Beijing MERCEDES-BENZ owner Daimler AG, counting on China to provide the most fuel for car demand growth this year, pledged to keep up its investments after the country’s biggest stock-market rout
      BLOOMBERG  -  419 words
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      961 21 I 4 Turn back the clock with Lianhe Zaobao and Ponds Over 200 readers attended the beauty workshop, which was organised by Ponds. Dermatologist Dr Wong Soon Tee and Pond's new ambassador Michelle Chong imparted tips and insights on how a proper skincare regime can help to fight the occurrence
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  • SINGAPORE APEX CSR AWARDS
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      Lock icon Championing sustainability
      748 22  -  A new national award aims to honour organisations that excel in corporate social responsibility. BY FRANCIS KAN BY FRANCIS KAN AS sustainability becomes an increasingly important consideration for businesses around the world, more organisations are looking to integrate socially responsible activities into their core operations. To encourage such
      748 words
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      Lock icon Taking green steps forward
      1538 22 2015 is an important year for sustainable development and climate change solutions, as world leaders will meet in September to approve the Sustainable Development Goals to guide national and global policies to 2030. In December, leaders will also assemble in Paris to adopt a global agreement
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      Lock icon Doing well by doing good
      1017 24  -  Keppel Land’s pursuit of sustainability excellence has benefited the environment, its stakeholders and the firm's bottom line. BY FRANCIS KAN WHEN a safety incident occurred at one of Keppel Land’s projects in Jakarta, the company’s CEO personally went down to the site to take stock
      1,017 words
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      Lock icon Saying no to deforestation
      716 24  -  Wilmar International has been a major proponent of sustainability in the palm oil business By Francis Kan AS guardians of large tracts of plantations, Singa-pore-based agribusiness group Wilmar International has always been aware of its responsibility towards the environment. Moreover, as a significant employer in some
      716 words
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      Lock icon Promoting green practices
      721 24  -  The Maritime and Port Authority of Singapore is leading by example to boost sustainability within the maritime community By Francis Kan AS the agency tasked to enhance Singapore’s position as one of the world’s leading hub ports, the Maritime and Port Authority of Singapore (MPA) has made
      721 words
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      358 23 A Pioneer in Sustainability Since 1995 An Advocate for Best CSR Practices amongst Businesses and Youths ACHIEVING EXCELLENCE Tree House Condominium Guinness World Record for Largest Vertical Garden* *As of April 2014 Honoured to be the Corporate Presenter of 7 9 Tampines Grande BCA Green Mark Platinum Green Mark Pearl
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      115 25 Creating sustainable communities for all today and generations to come. We call this ‘Thinking Unboxed.’ Winner (Large Organisations Category) Singapore Apex CSR Award Ocean Financial Centre Reflections at Keppel Bay At Keppel Land, we deliver value through Sustaining Growth in our businesses, Empowering Lives of our people and Nurturing Communities
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      129 26 TOWARDS A CLEAN, GREEN ANDVIBRANT MARITIME SINGAPORE W ith the steady growth of shipping as one of the most energy-efficient transportation modes of goods worldwide, the international maritime industry has played an increasingly significant role in building an environmentally sustainable maritime industry. Closer to home, the Maritime Singapore Green Initiative
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    1897 27 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 1/9 NOBLE CORAL 78 60 5/9
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      102 27 Experienced sh/p maintenance services wanted. Can they find your services here in the Shipping Times? THKlMlSINESSTlMBi TO ADVERTISE, CALL JOE WONG AT 9620 1327 Make A Splash In The Maritime World Via s|^i}^mantime.coM Ahoy there! If you are in a business pertaining to any sector of the maritime industry, log
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  • OPINION
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      Lock icon Deflation risks suggest Fed should hold off on interest rate hikes till 2016
      601 28 ON Sept 16, the Federal Open Market Committee (FOMC) of the US federal Reserve will meet to decide whether it should increase the benchmark Fed Funds rate for the first time since 2006. EDITORIAL Expectations have been
      601 words
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      Lock icon Internet roulette
      762 28  -  THE BOTTOM LINE By Robert Samuelson THE WASHINGTON POST WRITERS GROUP Washington ARE we ready for the “Internet of Things”? Probably not. The phrase coined in 1999 by researcher Kevin Ashton while working for Procter Gamble refers to things (cars, homes, factories, hospitals) whose performance is monitored and
      THE WASHINGTON POST WRITERS GROUP  -  762 words
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      Lock icon Asia’s legal framework has to be trade-ready
      1194 28  -  Small but key steps are being taken to harmonise the widely varying laws on competition, consumer protection and intellectual property. BY LEE SUET FERN AND SRIRAM CHAKRAVARTHI property.BY LEE SUET FERN, SRIRAM CHAKRAVARTHI T Ms Lee is the managing partner of Morgan Lewis
      PHOTO: LIM YAOHUI/THE STRAITS TIMES  -  1,194 words
    • Article
      Lock icon Tsipras’s prize: debt relief like West Germany in 1953
      823 29  -  COMMENTARY By David Marsh T The writer is managing director of the Official Monetary and Financial Institutions Forum OMFIF ALL government leaders dissimulate equally; but some are more equal than others. lexis Tsipras, who is likely to continue as Greek Prime
      OMFIF  -  823 words
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      Lock icon End of the world not at hand (yet) as the equity bubble bursts
      822 29  -  By Anthony Rowley ARE we facing Armageddon again just seven years after the global financial crisis struck? It feels a bit like it judging from the quality (or lack thereof) in much of the share market commentary
      822 words
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      Lock icon Emerging markets the true victims of financial turmoil
      1060 29  -  Not all of them have both the reserves and the will to abandon a floating exchange rate. BY ANDRÉS VELASCO T The writer, a former finance minister of Chile, is professor of professional practice in international development at Columbia University PROJECT SYNDICATE
      PROJECT SYNDICATE; PHOTO: AFP  -  1,060 words
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  • LIFE & CULTURE
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      Lock icon Hybrid megayachts for the eco-conscious
      629 30 Today’s wealthy want to show their commitment to the environment NYT New York IN the new arms race of conspicuous environmentalism, the wealthy have been building “green” mansions, driving hybrid supercars and buying carbon offsets for their private jets. But now the eco-conscious rich have
      NYT; PHOTO: NYT  -  629 words
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      Lock icon Chefs for the day
      236 30 Singapore MID-Autumn Festival celebrations came early to nearly 20 children from Singapore Children’s Society when Hong Leong Foundation hosted them to a mooncake-mak-ing party on Tuesday. Held at Orchard Hotel, the event saw the children, aged 9-12, decked in little chef’s hats and aprons, having a
      236 words
    • Article
      Lock icon Brands see ‘normcore’ creators as ‘millennial whisperers’
      806 30 WP Washington BEFORE “normcore” was a runner-up for the Oxford English Dictionary’s “word of the year”, before Jerry Seinfeld became the trend’s unofficial brand ambassador, before New York Magazine introduced it to the world, there were just five 20-some-things on an art project.
      WP  -  806 words
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  • Page 30 Miscellaneous
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      329 30 CRYPTIC CROSSWORD Across 1 Too easy as the Italian gets mug running round (6) 4 Go mad before long it’s not serious (8) 10 Exit on cue for moving performance (9) 11 Eliminate answer in Gaelic language (5) 12 Maybe fifth set of French drink (7) 13 Examine bug picking
      329 words
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      64 31 Sometimes you need to pay to have a view of the world. But that's not how we see it. IS it *31 i 4 Han aaaonew■rA VISITTHE BRAND NEWASIAONE.COM AsiaOne is a free-access website that curates important and interesting news and lifestyle features from a wide range of content partners
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  • EXECUTIVE MONEY
    • Article
      Lock icon Net sells by global funds pip net buys in 3 months to August
      470 31 GLOBAL mutual funds sold more Singapore stocks than they bought in the three months to Aug 19. Based on transactions in the top five stocks, there were net sells of S$1.19 billion, compared to net buys of
      470 words
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      Lock icon Hot tech startups may face a long and bumpy fall
      960 31 Venture capitalists fret about whether stock market rout would cool heady market for shares of private companies NYT San Francisco AS stock markets have tumbled, public company shareholders were not the only ones wondering what would become of their portfolios.
      NYT  -  960 words
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      Lock icon Asian equities: coast is far from clear
      1157 32  -  Even though the beginning of a financial crisis is ruled out, analysts expect turbulence for some time.BY time.BY GENEVIEVE CUA PANIC selling on some Asian bourses appeared to have abated somewhat on Tuesday, but the coast is far from clear. On Tuesday the
      PHOTO: REUTERS  -  1,157 words
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      Lock icon A month that hedge funds would sooner forget
      1129 32 The sudden and rapid selloff across global markets that began late last week caught many off guard NYT New York FROM his getaway cabin deep in the woods, an experienced adviser to wealthy hedge fund investors was hopping from one conference call
      NYT  -  1,129 words
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