The Business Times, 24 March 2016

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Total Pages: 34
1 34 The Business Times
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  • Title Section
    Lock icon Masthead
    22 1 THE BUSINESS TIMES S$1.20 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BusinessTimes CO REGN NO *****2868E MCI (P) 039/08/2015 Thursday, March 24, 2016
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  • Article, Illustration
    Lock icon DAILY DIGEST
    218 1 Homegrown platforms ezbuy (known formerly as 65daigou and which provides Taobao shopping services) and iFashion (a new roll-up play which targets online fashion sites) raise US$20 million and S$1 million respectively in venture capital. TOP STORIES 5 The Securities Investors’ Association (Singapore), known mainly as a lobby group
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  • Article, Illustration
    Lock icon Singapore’s continued relevance – that’s the big question
    1061 1  - Singapore’s continued relevance that’s the big question Technological disruptions and global supply chain shifts will affect how the Republic plugs into the world SINGAPORE BUDGET 2016 By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore AS the latest Singapore Budget is rolled out on Thursday, much of the focus will be on what
    Source: Economic Survey of Singapore 2015  -  1,061 words
  • Article
    Lock icon Oil industry in uncharted territory, says IEA senior exec
    840 1  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore THE world is in uncharted territory where oil prices are concerned, a senior executive of the International Energy Administration (IEA) has said. Neil Atkinson, the agency’s head of the oil industry and markets division, said
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  • Article
    Lock icon MARKETS
    26 1 Wednesday Change STI 2,881.98 +1.33 KL Comp 1,724.55 -0.20 Nikkei 225 17,000.98 -47.57 Hang Seng 20,615.23 -51.52 Shenzhen B 1,133.42 +1.88 Dow(9.30am EDT) 17,559.84 -22.73
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  • Page 1 Advertisements
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      Lock icon Page 1 Advertisements Column 1
      45 1 *****1 *****1 THE BUSINESS TIMES Jaeger-leCoultre Boutique 2 Orchard Turn, ION Orchard, #02-08, Singapore 2 Bayfront Ave.The Shoppes at Marina Bay Sands, #B2M-240, Singapore Geophysic Universal Time watch Philippe Jordan, Chief Conductor and Music Director in Paris and Vienna JL Open a whole new world
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      17 1 REMEMBERING LEE KUAN YEW LKY’s insights benefited three generations of younger ministers: PM Lee top stories 2
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      79 1 S’PORE FEBRUARY CPI Core inflation inches up TOP STORIES 2 TROUBLED TIMES 1MDB laying off staff soon TOP STORIES 4 BT’S BUDGET LIVE BLOG Get real-time analysis on Budget 2016 today with The Business Times’s Budget live blog. As Finance Minister Heng Swee Keat delivers his maiden Budget speech, BT
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  • TOP STORIES
    • Article, Illustration
      Lock icon Negative inflation persists, but core inflation inches up
      667 2  -  It’s unclear what this could mean for the shape of April’s monetary policy, pending the Budget statement due today By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore CONSUMER prices may have fallen for the 16th straight month in Singapore, but that doesn’t mean prices
      Source: Department of Statistics  -  667 words
    • Article, Illustration
      Lock icon LKY’s insights benefited 3 generations of younger ministers: PM Lee
      825 2  -  REMEMBERING LEE KUAN YEW By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE late Lee Kuan Yew “left nothing to chance” when it came to governing Singapore, said Prime Minister Lee Hsien Loong on Wednesday, the first anniversary of his father’s death
      PHOTO: MCI  -  825 words
    • Article
      Lock icon Abdullah Tarmugi, Wong Kan Seng, Grace Fu recall LKY’s leadership style
      605 2  -  By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore FORMER speaker of the house Abdullah Tarmugi has only one word to describe founding prime minister Lee Kuan Yew “proper”. “He was always ‘Proper’,” Mr Abdullah said in remembrance of Mr Lee
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    • Article
      Lock icon Axe to fall on 1MDB staff soon
      395 4  -  Investment holding company completes almost RM10 billion cash sale of power assets By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore SEVEN years after it was set up, troubled 1 Malaysia Development Berhad (1MDB) is laying off staff as a storm of controversy around it continues.
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    • Article, Illustration
      Lock icon The 1MDB monster ... and the banks that fed 1MDB’s borrowing
      652 4  - The 1MDB monster and the banks that fed 1MDB’s borrowing BT Infographics country.BY ANITA GABRIEL “If you owe the bank hundreds, you are at the mercy of the bank. If you owe the bank millions, the bank is at your mercy” is an old, oft-used quote about bankers. This may
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    • Article
      Lock icon Four attackers carried out Brussels blast; two identified as brothers, one on the run
      892 4 AFP NYT Brussels BELGIAN prosecutors said on Wednesday that two brothers carried out suicide attacks at Brussels airport and on a metro train, with one of them leaving a desperate will in a trash can saying
      AFP; NYT  -  892 words
    • Article
      Lock icon 2 online shopping sites bag venture funding
      531 5  -  Ezbuy raises US$20m, plans new source markets; iFashion gets S$1m, guns for regional expansion By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore THE e-commerce game is strong in Singapore. Homegrown platforms ezbuy (known formerly as 65daigou and which provides Taobao shopping services) and iFashion (a
      531 words
    • Article
      Lock icon Small-car COE bucks trend of premium dips in latest round
      318 5  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore CERTIFICATE of entitlement (COE) premiums ended mixed at the close of Wednesday’s round of bidding, with the premiums for cars above 1,600 cc, the open category as well as for goods vehicles and buses
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      Lock icon Page 2 Advertisements Column 1
      143 2 vfr- fa Fine Chinese Classical Paintings: Exquisite Qing Dynasty Fan Paintings and Calligraphy Exhibition. Complimentary Valuations and Upfront Buy-in -'v\ t r 4| Vs? s f This exhibition will showcase a "are private collection of Qing dynasty Chinese c assical fan pa "rings and calligraphy by renowned artists. Valuations for
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      368 3 MORE THAN70%OF LAUNCH UNITS SOLD A HOMEIN THECITY. THEWORLDAT YOUR DOORSTEP. Artist’s impression Covered Link Bridge to Paragon Shopping Centre Cairnhill Nine a lifestyle envied by many, at a location that is simply incomparable. Exclusive luxury residences that now afford you the dream of living in the heart of prime
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  • Page 5 Advertisements
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      16 5 Grow Your Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices
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      Lock icon Page 5 Advertisements Column 2
      147 5 A TOUCH OF SPRING ELEGANCE 24 MARCH 8 MAY 2016 This Spring season, be inspired at Scotts Square. With our curated suite of international brands, take your pick from the latest and most coveted. A flourish of elegant styles beckon. ALL DAY BREAKFAST TREAT Receive a $10 Wild Honey Dining
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon SIAS expanding purview to alternative investments
      527 6  -  Association seeks to raise S$5 million over five years, partly to fund initiatives in this area By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore THE Securities Investors’ Association (Singapore), known mainly as a lobby group for investors in listed securities, is expanding its purview to cover
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    • Article
      Lock icon StanChart opens innovation lab in Singapore
      584 6  -  By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore STANDARD Chartered Bank (StanChart) on Wednesday announced the opening of its Asian innovation lab in Singapore. Called the eXellerator, the lab builds upon the bank’s technology centre in Silicon Valley, SC Studios, and is the first such
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    • Article
      Lock icon Strong demand for new ABN Amro 10-year SGD bond
      339 6  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore ABN Amro Bank sold on Wednesday a new 10-year S$450 million bond issue which enjoyed strong demand amid a hot bond market. From the get-go, demand was strong and orders crossed S$850 million around
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    • Article, Illustration
      Lock icon Koh Brothers eyes more hotel assets and M&A targets
      882 8  -  CEO: With softness in hotel sector, it’s time to enter the market rather than trying to catch the uptrend later By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore DEFYING market headwinds, Koh Brothers Group is gunning for more hotel assets in Singapore and
      FILE PHOTO  -  882 words
    • CORPORATE DIGEST
      • Article
        Lock icon Select Group
        67 8 CATALIST-LISTED food caterer Select Group is being taken private by a consortium led by Temasek Holdings-linked Dymon Asia Private Equity. The consortium also includes Select’s co-founders Tan Chor Khoon and Tan Choh Peng, who are brothers. The offer price is S$0.525 a share, or 10.5 times earnings. it
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      • Article
        Lock icon Huan Hsin
        53 8 THE auditors of watch-list Chinese electronics contract manufacturer Huan Hsin Holdings, Deloitte Touche, have highlighted that the preparation of Huan Hsin’s financial statements on a going concern basis is dependent on the successful completion of a shares subscription exercise, announced in end-February, to raise up to US$250 million
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      • Article
        Lock icon Hotel Properties
        42 8 HOTEL Properties Limited (HPL), via its associated company VN NH Holdings, has entered into a sale and purchase agreement to acquire American Indochina Resorts Limited (AIRL) for US$65 million. Collectively, the airl group owns a five-star beachfront resort in Vietnam.
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      • Article
        Lock icon Pan Ocean
        24 8 SOUTH Korean shipping firm Pan Ocean secured on Tuesday a 20-year iron ore shipping contract with Brazilian mining firm, vale SA. DBS
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      • Article
        Lock icon DBS
        30 8 DBS announced on Wednesday that it has appointed Joyce Tee as its group head of SME Banking, making her the bank’s first female head of its SME banking franchise.
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    • Article
      Lock icon Two-horse race for 4th telco licence will raise spectrum costs
      1342 8  -  HOCK LOCK SIEW BY AMIT ROY CHOUDHURY amit@sph.com.sg @AmitRoyCBT COMMENTING on the recent revision of data plans announced by the three incumbent telcos in Singapore, Masoud Bassiri, chairman and founder of wireless solutions provider Consistel, said, perhaps half in jest,
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    • Article
      Lock icon S-Reits set for wave of consolidation: CIT chief
      595 9 Merging of smaller trusts the most viable option amid tighter rules, says CEO BLOOMBERG Singapore SINGAPORE’S real estate investment trust (Reit) market is set to consolidate as smaller vehicles merge to cope with rising regulatory costs, according to Cambridge Industrial Trust (CIT).
      BLOOMBERG  -  595 words
    • Article
      Lock icon Saudi bourse invites banks to bid for IPO role
      211 9 BLOOMBERG Dubai SAUDI Arabia’s stock exchange has started asking banks to bid for a role advising it on an initial public offering earmarked for 2018, three people with knowledge of the matter said, in a sign the government is pressing ahead
      BLOOMBERG  -  211 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 10 STI Catalist Straits Times Index March 23,2016 2,881.98 +1.33 (+0.05%) Current streak 1 day Day high 2,895.97 Day low 2,874.15 52-week high 3,539.95 (Apr 15, 2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist Index March 23,2016 455.52 +3.87 (+0.86%) Current streak 1 day Day high 455.72 Day low
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    • Article
      Lock icon GAINERS
      73 10 BY CENTS CLOSE UP 52w high/low DBXT MSMSIA US$ 1183 35.5 2.2 1411/990 Great Eastern 2206 20.0 0.9 2530/1870 IS ASIA HYG US$ 1041 16.4 1.2 1130/977 SGX 781 14.0 1.8 880/661 Lyxor Nasdaq US$ 1760 12.3 0.5 1865/1557 BY PERCENTAGE CLOSE UP 52w high/low SingTelMBeCW*****5 4 110.5 2.1
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    • Article
      Lock icon LOSERS
      75 10 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -190.0 -1.2 *****/***** DBXT MSKorea US$ 5312 -73.8 -1.0 6246/4478 DBXT MSJAP US$ 4614 -21.9 -0.3 5277/4031 DBXT MSINDO US$ 1295 -19.1 -1.1 1492/911 JSH USD 2998 -19.1 -0.5 3578/2524 BY PERCENTAGE CLOSE DOWN 52w high/low Ley Choon 2.7 -28.9
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    • Article
      Lock icon UNUSUAL ACTIVITY
      84 10 VOL CLOSE($) CHANGE Sinjia Land 595.9 0.074 -0.014 -15.91 Hoe Leong 100.5 0.040 -0.004 -9.09 OKH Global 196,744.2 0.104 +0.019 +22.35 Tung Lok Rest 320.1 0.090 -0.005 -5.26 P99 64.3 0.050 +0.010 +25.00 Far East 201.2 0.090 +0.010 +12.50 Sinarmas Land 6,145.7 0.540 +0.050 +10.20 Ryobi Kiso 52.0
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    • Article, Illustration
      Lock icon Banks take backseat in quiet session
      642 10  -  Straits Times Index ends just 1.33 points up after drifting within a narrow range STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT WEDNESDAY’S trading session at Singapore Exchange (SGX) was one of the quietest in recent weeks, with the Straits Times Index (STI) drifting within a
      Source: Bloomberg  -  642 words
    • Article
      Lock icon STI STOCKS
      315 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 245 -1 247/241 271 209 6 6435.5 CapitaCom Trust 147.5 unch 149.5/147 179 122.5 5.8 4359.1 CapitaLand 314 cd +1 316/311 379 267 12.6 2.9 *****.1 CapitaMall Trust 217 -1 220/215 228
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    • Article
      Lock icon MOST ACTIVE
      36 10 VOLUME OKH Global 196,744,200 Noble 121,842,900 Rex Intl 67,340,200 Ezra 54,803,500 Global Logistic 36,178,000 Market volume 1,550,584,000 VALUE Global Logistic 70,544,567 Noble 59,422,609 Singtel 53,732,685 DBS Grp 42,211,167 OCBC Bank 41,067,297 Market value 983,861,000
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    • Article
      Lock icon SGX ETFS Most Active
      106 10 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS INDIA US$ US658 -2 661 663/656 819/575 658/659 82.3 STI ETF 289 +2 231 290/288 355/254 288/289 DBXT MSCHINA US$ US1170 108 -/-1750/995 1166/1170 DBXT MSRussia US$ US190 -2 103 192/190 235/129 189/190 ABF
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 10 Mar 23 VALUE CLOSE BT OB/OS 107.00 -52.00 BT CADI -*****.00 +47.00 BT 10-day MA -*****.00 +10.00 FTSE ST Mid Cap 694.42 +2.19 FTSE ST Small Cap 402.20 +1.33 FTSE ST All Share 704.14 +0.78 FTSE ST China Top 168.08 +1.61 FTSE ST China 198.10 +1.83 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 10 STI FTSE ST All-Share ftse ST All-Share index March 23,2016 704.14 +0.78 (+0.11%) Current streak 2 days Day high 706.79 Day low 702.80 52-week high 847.98 (Apr 15, 2015) 52-week low 625.37 (Jan 21, 2016)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 10 STI MSCI EAFE MSCI EAFE Index March 22,2016 1,654.79 +1.86 (+0.11%) Current streak 1 day Day high 1,658.83 Day low 1,636.88 52-week high 1,949.49 (May 15, 2015) 52-week low 1,492.43 (Feb 12, 2016)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 11 2 2 1 0 0 12 2 2 Manufacturing 38 18 33 6 10 11 44 28 44 Commerce 21 18 9 5 2 3 26 20 12 Tpt/Stor/Comms 17 15 3
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 21,323 12,939 34,262 59,221 2,996 62,217 Manufacturing 142,163 36,390 178,553 125,594 3,223 128,817 Commerce 164,854 23,261 188,115 107,833 1,075 108,908 Tpt/Stor/Comms 124,770 947 125,717 128,516 79 128,595 Finance 21,872 21,872 150,900 150,900 Construction 20,615 35,599
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    • BROKERS’ TAKE
      • Article
        Lock icon AIMS AMP Reit Buy
        181 10 Target price: S$1.47 March 23 close: S$1.355 Maybank Kim Eng Research, March 22 We fully factor in the downside risk of 20 Gulway’s possible non-renewal by master tenant CWT, and assume that it fully converts to a 90 per cent occupied multi-tenanted property. We factor in
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      • Article
        Lock icon StarHub Hold
        134 10 Target price: S$3.66 March 23 close: S$3.34 BNP Paribas Securities Singapore, March 22 in our view, the acquisition of a 9.05 per cent stake in Catalist-listed mm2 Asia should strengthen StarHub’s original content production capabilities. This may be viewed as a defensive strategy for StarHub’s pay-TV business against
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      • Article
        Lock icon mm2 Asia Buy
        105 10  -  Compiled by Cai Haoxiang Target price: S$0.525 (under review) March 23 close: S$0.54 DBS Group Research, March 23 with a strategic investor like StarHub coming onboard, this is a significant endorsement for mm2. This could raise mm2’s profile and pave the way for bigger opportunities ahead, both
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    • Article
      Lock icon CALENDAR
      9 10 DATA T March 24 US initial jobless claims
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    • Article
      Lock icon US dollar up on Fed officials’ rate comments
      389 11 CURRENCIES REUTERS London THE US dollar rose to a one-week high against a basket of major currencies on Wednesday, boosted by hawkish comments by US Federal Reserve officials and safe-haven demand following Tuesday’s attacks in Brussels. Three-month sterling implied volatility soared as
      REUTERS  -  389 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 11 Mar 23 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.994 4.932 0.679 5.890 50.760 100.145 0.853 8.814 3.045 1.130 79.531 35.225 1.038 11.601 0.741 24.714 26.657 0.536 0.759 Canada 1.006 4.959
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 11 Mar 23 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0375 1.0380 0.7592 0.7593 Canadian dollar 1.0431 1.0439 0.7637 0.7633 Euro 1.5288 1.5298 1.1187 1.1191 NZ dollar 0.9177 0.9186 0.6715 0.6720 Sterling pound 1.9365 1.9376 1.4170 1.4174
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 11 Mar 23 S$ Bid Offer 1-month 1.3670 1.3675 2-months 1.3676 1.3682 3-months 1.3682 1.3688 6-months 1.3705 1.3712 Source: OCBC
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      • Article, Illustration
        Lock icon HANG SENG
        2 11
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      • Article, Illustration
        Lock icon NIKKEI
        1 11
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        Lock icon SHANGHAI COMPOSITE
        2 11
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      • Article, Illustration
        Lock icon DOW JONES
        2 11
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        392 11 Mar 23 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Mar16 9630.00 9750.00 9622.50 9660.00 *****1 *****0 Apr16 9590.00 9695.00 9567.50 9615.00 ***** ***** NIKKEI 225 INDEX FUTURES Jun16 *****.00 *****.00 *****.00 *****.00 ***** *****4 Sep16 *****.00 *****.00 *****.00 *****.00 68 643 MSCI TAIWAN
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        202 11 Most active Mar 23 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left CSC Holdings W*****9 1.2 unch 7799 1 1 16 1.58 57 DBS MB eCW*****1 14.2 0.1 4485 0.1 1480 4 DBS VT eCW*****2 13 unch 3718 0.1
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        377 11 In local curr In S$ In US$ dy yr dy yr dy yr Mar 22 Index Change Change Change Change Change Change World Preliminary 1245.8 0.1 -2.5 0.1 -5.2 -0.1 -1.2 EAFE Preliminary 947.1 0.2 -6.5 0.1 -7.7 -0.2 -3.8 Europe Preliminary 1338.3 -0.3 -5.3
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 11 Mar 23 $S Offer Bid 0vernight 0.03 0.01 1-month 1.000 0.875 2-months 1.125 1.000 3-months 1.1875 1.0625 Overnight mode: 0.35 US$ Offer Bid 7 days 0.45 0.35 1 month 0.48 0.38 2 months 0.65 0.45 3 months 0.75 0.55 6 months 1.05 0.85 9 months 1.25 1.05 12
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      • Article
        Lock icon GOVERNMENT SECURITIES
        67 11 Mar 23 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0F 1.375 01-Oct-17 100.68 100.73 100.73 5-Year NX*****X 2.250 01-Jun-21 102.65 102.65 102.53 10-Year NX*****Z 2.375 01-Jun-25 102.62 102.55 102.55 15-Year NZ*****F 2.875 01-Sep-30 105.29 105.55 105.15 20-Year NZ*****V 3.375 01-Sep-33 111.76
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 11 Mar-22 Price Net change change Last Trade Agricultural Mar-22 CBOT Soybeans (US cents/bu) 910.25 8.25 0.91% 13/05/2016 CBOT Soybean Oil (US cents/lb) 33.93 0.35 1.04% 13/05/2016 CBOT Wheat (US cents/bu) 466.75 0.25 0.05% 13/05/2016 Mar-22 LIFFE Cocoa (£/tonne) 2235.00 -3.00 -0.13% 13/05/2016 LIFFE Coffee (US$/tonne) 1479.00 41.00 2.85%
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    • Article
      Lock icon SGX MAINBOARD
      1845 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Last Vol Day Div GrYld 153 127 AIMSAMP Cap Reit 135.5 +1 119 135.5 134 1 8.2 860.9 MCap 175.5 101 ARA Asset Mgmt 118cd -1 815 119 117 1.7
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    • Article
      Lock icon SGX CATALIST
      287 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Company Last Sale vol ('000) High Day Low Div C'vr 19.9 12.3 t Anchor Resources 14.9 -0.1 5477 15.5 14 41.7 Net P/E MCap 35 8.8 t 3Cnergy 8.8 29.5 16.7
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    • Article
      Lock icon SGX ETF
      104 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale vol ('000) Day Low 6246 4478 DBXT MSKorea US$ US5312 -54 5312 5312 7.7 1411 990 DBXT MSMSIA US$ US1183 +26 1183 1183 233.2 158.5 DBXT MSPHILS US$
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  • Page 6 Advertisements
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      Lock icon Page 6 Advertisements Column 1
      749 6 THE LARGEST I.T., DIGITAL, MOBILE CONSUMER ELECTRONICS EXHIBITION IN SINGAPORE! ITSHOW2016 THANK YOU FOR VISITING IT SHOW 2016 Now that you have purchased your new gadgets, get smart about your backup with Serguei Beloussov, CEO of Acronis! When it comes to Data Protection, most people don’t have a clue. Many
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  • Page 8 Advertisements
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      Lock icon Page 8 Advertisements Column 1
      76 8 BUDGET 2016 LATEST NEWS, INFOGRAPHICS AND ANALYSIS 2- -2. _rr-4 -2 k. r: > 4 Follow the BUSINESS times' coverage at bt.sg/budget_l6 #SGBudget20l6 SA f. s' O' yik V < v» r- K v:v I ■4 V1 sd r 1 >2 \J': J 2k. ,225, r v5r v > y,
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  • Page 9 Advertisements
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      Lock icon Page 9 Advertisements Column 1
      490 9 2016 Singapore Budget Seminar Recent Tax Developments 31 March 2016, Thursday 1pm to 4.30pm STI Auditorium 168 Robinson Road, Level 9, Capital Tower, (S) *****2 (Registration with light lunch starts at 12pm, refreshments networking session at 4.30pm 5.30pm) Minister for Finance, Mr Heng Swee Keat, will deliver Singapore’s FY2016 Budget
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  • Page 12 Advertisements
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      71 12 ON THIS OPPORTUNITY Reach out to investors and affluent readers in this Investor Information Page. Advertise at less than $5,800 per full colour ad (a special package for 4 leading newspaper titles The Straits Times, The Business Times, Lianhe Zaobao and The New Paper Sunday). Contact our Sales Team now!
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  • REAL ESTATE
    • Article, Illustration
      Lock icon CapitaLand latest to enter co-working space arena
      775 14  -  Developer partners Collective Works under a 50-50 joint venture to turn Capital Tower’s 12th floor into co-working space By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore THE concept of co-working space is gaining traction with office landlords here, with CapitaLand being the latest to introduce
      FILE PHOTOS  -  775 words
    • Article
      Lock icon NEA hands out S$1.3m in quieter building grants
      223 14 Singapore SINGAPORE’S National Environment Agency (NEA) has committed S$ 1.3 million to 41 projects that have applied for its Quieter Construction Fund (QCF) since it was introduced in April 2014. The QCF, which reimburses companies for up to 50 per cent of
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    • Article, Illustration
      Lock icon Slowdown in New York’s high-end market worries Israeli bondholders
      1110 15 Some investors are growing sceptical of financing faraway real estate in locales where they have no local knowledge BLOOMBERG New York GARY Barnett, the developer who touched off a luxury-condo boom in Manhattan, will play host next month to a group
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,110 words
    • Article
      Lock icon Developers raise Thai mall investment to 54b baht
      193 15 REUTERS Bangkok THAILAND’S Charoen Pokphand Group (CP) and two property firms have raised their investment in Bangkok’s Icon Siam development to 54 billion baht (S$2.1 billion) to expand its shopping malls, an executive said on Tuesday. Despite Thailand’s slowing economy and weak
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      Lock icon Japan’s commercial land prices post first rise in 8 years
      373 15 REUTERS Tokyo JAPAN’S nationwide commercial land prices rose for the first time in eight years in 2015, driven by expectations that growing demand for hotel and retail spaces would boost property values, a government survey showed. Prices rose 0.9 per
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      Lock icon Overseas remittances fuelling boom in Vietnamese property market
      781 16 A healthier economy in US, where many of the diaspora live, and Vietnam’s improving prospects are encouraging people to send money home REUTERS Hanoi ENCOURAGED by an easing of real estate laws and a thriving economy, the Vietnamese diaspora is sending record
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      Lock icon Househunt
      1176 16 Property transactions for districts 1 to 28 with contract dates between Feb 10 and Feb 16, 2016 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED People's Park Cplx Apt 15/02/2016 99 1119 909 812 District 2 NON-LANDED Altez
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      Lock icon Refinancing to drive Aussie mortgage growth in ’16
      304 16 BLOOMBERG Sydney REFINANCING will drive Australian mortgage growth in 2016 as borrowers gun for better deals after lenders raised interest rates for the first time in five years and the run-up in home values allows them to increase the size of their
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      454 14 Lombok Beachfront Land For Sale Pubu Lombok Chandran V R CEA Registration Number: R*****9C Chandran.vr@cre.sg Unique 43.6 hectare site for development Praya Barat Daya area with Hak Milik titles Undulating terrain with a beautiful ridgeline Close proximity to Lombok International Airport with totally tarmacked road (30 min) Surrounded by a
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      498 15 For Sale/ Rent Marina Bay Residence 2,368sf, 4 bedrooms Unblocked bay view Minutes to CBD&MRT Sentosa Seafront Bungalow 2-storey with basement pool Estd 8,500sf (4 ensuite+1) Near amenities 10 mins to CBD Agents welcome Call Owner 9231 6252 9728 0766 HOTEL, RETAIL, OFFICE COMPLEX BIG ADD VALUE OPPORTUNITY Corner Gladstone
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      3001 17 HENGXIN TECHNOLOGY HENGXIN TECHNOLOGY LTD. (incorporated in Singapore with limited liability) (Singapore Registration No.: *****4927H) (Hong Kong Stock Code: 1085) (Singapore Stock Code: I85) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the annual general meeting (the "Annual General Meeting") of Hengxin Technology Ltd. (the "Company", together with
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      2497 17 HAFARY HOLDINGS LIMITED (Company Registration No. *****8637C) (Incorporated In the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Hafary Holdings Limited (“the Company”) will be held at 8 Wilkie Road, #03-08 Wilkie Edge, Singapore *****5 on Monday, 11 April 2016
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      2903 18 G. K. GOH HOLDINGS LIMITED (Company Registration No. *****0184D) (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Twenty-seventh Annual General Meeting of G. K. Goh Holdings Limited (the “Company”) will be held at Cinnamon Room, Novotel Singapore Clarke Quay 177A River
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      1612 18 NOTICES HYFLUX LTD Company Registration No.: *****2722Z (Incorporated in the Republic of Singapore) NOTICE OF CLOSURE OF BOOKS FOR 6% CUMULATIVE NON-CONVERTIBLE NON-VOTING PERPETUAL CLASS A PREFERENCE SHARES (TRADING NAME: HYFLUX 6% CPS 10) (“PREFERENCE SHARES”) NOTICE IS HEREBY GIVEN that the Share Transfer Books and Register of Preference Shareholders
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      3623 19 NOTICES TOLL FREE 18 0 0-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices (Constituted in the Republic of Singapore pursuant to a trust deed dated 28 November 2005 (as amended)) Notice of Annual General Meeting NOTICE IS HEREBY GIVEN that the Annual General Meeting (“AGM”) of the holders of units of Keppel
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      188 19 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF KOU INVESTMENT HOLDINGS PTE. LTD. Company registration no. *****3601W (In Member’s Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50 that the Final Meeting of
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  • BANKING & FINANCE
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      Lock icon Investors in Myanmar swot up on share trading
      653 20 Dozens attend Yangon Stock Exchange classes every week; bourse to make debut on Friday with one counter AFP Yangon INSIDE the graceful halls of Myanmar’s first modern bourse, a huddle of business leaders crowds into a crash course on share trading, as
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    • Article
      Lock icon StanChart to curb US$2b diamond exposure: sources
      288 20 BLOOMBERG London STANDARD Chartered Plc is demanding more loan protection from clients in the Indian and Belgian diamond trade as the bank seeks to tighten standards, according to people with knowledge of the new policy. After lending about US$2 billion to the industry,
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    • Article
      Lock icon Credit Suisse to further cut costs, downsize investment bank
      563 21 Bank aims to achieve 1.7b Swiss francs in cost savings this year, as it restructures to revitalise its earnings REUTERS Zurich CREDIT Suisse Group on Wednesday announced 800 million Swiss francs (S$ 1.12 billion) in additional cost cuts and plans to
      REUTERS  -  563 words
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      Lock icon ‘Bleeding’ from yuan devaluation, China Inc seeks hedging help
      681 21 BLOOMBERG Hong Kong CHINESE companies are seeking hedging services like never before after the yuan slid to a five-year low earlier this year. Financial service provider KVB Kunlun Global Capital Ltd forecasts its foreign-exchange hedging business will double this year, as
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      3571 20 NamCheong NAM CHEONG LIMITED (Incorporated in Bermuda) (Company Registration Number: *****) (the Company) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the Annual General Meeting of Nam Cheong Limited (the “Company”) will be held at Holiday Inn Singapore Atrium, Changi Room 1 2, Level 4, 317 Outram Road,
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      3452 21 FAST I iFAST CORPORATION LTD. (Company Registration Number: *****7899C) (Incorporated in the Republic of Singapore on 11 September 2000) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the Annual General Meeting ("AGM”) of the Company will be held at 10 Collyer Quay, #26-01, Ocean Financial Centre, Singapore *****5
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  • ENERGY & COMMODITIES
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      Lock icon China’s oil refining glut so far spared the overcapacity axe
      784 22 Unlike for coal and steel, demand for oil still growing, with crude use up 5.6% last year BLOOMBERG Hong Kong WHILE China’s coal miners and steelmakers face production and workforce cuts, the country’s push to shrink industrial overcapacity has so
      BLOOMBERG; PHOTO: REUTERS  -  784 words
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      Lock icon Turnbull eyes greener Australia in move away from Abbott era
      543 22 He supports 2 clean-energy bodies his predecessor wanted scrapped BLOOMBERG Canberra PRIME Minister Malcolm Turnbull announced support for two clean-ener-gy bodies, seeking to burnish his government’s green credentials with an election in Australia potentially just over three months away. Mr
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      1727 22 NOTICES T O L L F R E E 1 8 0 0 -2 8 9 8 8 2 2 I E m a i l n o t i c e s s p h c o m s g I w w w s p h c l
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      360 22 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 (“the Act”) AND IN THE MATTER OF PURPLETRAIN.COM PTE LTD (“the Company”) (Co. Reg. No. *****5313C) Notice of Resolutions for Members’ Voluntary Liquidation (Pursuant to Section 290) At an Extraordinary General Meeting of the Company held at Level 2 West Wing,
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      3324 23 NOTICES TOLL FREE 18 0 0-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices Keppel Telecommunications Transportation Ltd Co Reg No: *****0115G (Incorporated in the Republic of Singapore) Notice of Annual General Meeting/Closure of Books ALL MEMBERS ARE CORDIALLY INVITED TO ATTEND the annual general meeting of Keppel Telecommunications Transportation Ltd (the “Company”)
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  • TECHNOLOGY
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      Lock icon FBI bringing in hackers to access terrorist’s locked iPhone
      1173 24 But it may be obligated to give Apple the details so the company can fix the security gap BLOOMBERG Washington THE Federal Bureau of Investigation (FBI) has come up with a strategy to get out of its messy court case with
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      Lock icon Google’s Greene scores on catch up with Amazon’s cloud
      946 25 VMware co-founder who joined Google last Nov adds Home Depot as a client REUTERS, BLOOMBERG San Francisco GOOGLE Inc, long an also-ran in cloud services, has scored an important victory in its effort to win corporate clients: Home Depot is moving
      REUTERS,; BLOOMBERG  -  946 words
    • Article
      Lock icon Amazon hosts exclusive robotics conference in Palm Springs
      218 25 BLOOMBERG San Francisco ROBOTICS companies and academics descended on a resort in Palm Springs this week for an invitation-on-ly conference organised by Amazon.com Inc to bring together experts in artificial intelligence, robotics, home automation and space exploration. At the event, held at
      BLOOMBERG  -  218 words
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      3313 25 CHINA AVIATION OIL (SINGAPORE) CORPORATION LTD g Incorporated in the Republic of Singapore Company Registration No.*****3293Z NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 22 nd Annual General Meeting of the Company will be held at NTUC Centre, 1 Marina Boulevard, Level 7, Auditorium, Singapore *****9 on
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  • CONSUMER
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      Lock icon North America farms swop wheat for pulses to meet demand in Asia
      680 26 World’s largest exporter of peas and lentils says farmers in Canada are poised to seed record acres of the crops BLOOMBERG Chicago THE humble pea is taking over. With vegetarians in Asia hungry for lentils, chickpeas and other
      BLOOMBERG; PHOTO: BLOOMBERG  -  680 words
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      Lock icon Fonterra profit soars as global milk price slumps
      443 26 The low prices mean it pays less for milk, but hits the bottom line of its shareholder farmers AFP Wellington NEW Zealand’s Fonterra the world’s largest dairy cooperative announced a 12 3 per cent rise in interim profit on Wednesday, but warned
      AFP; PHOTO: BLOOMBERG  -  443 words
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      Lock icon Single-serves seen driving US coffee sales
      243 26 BLOOMBERG New York MASSIMO Zanetti Beverage USA, the maker of Chock full O’Nuts and Hill Bros coffee brands, sees the future of US sales in a single cup. Overall sales in the US will grow 3-5 per cent in 2016, and the “driving piece
      BLOOMBERG  -  243 words
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      Lock icon Streaming top earner last year for US music business
      476 26 AFP New York STREAMING has become for the first time the top money-maker for the US recorded music business, but it has struggled to offset falling CD sales and downloads, industry data showed on Tuesday. Releasing its 2015 figures, the Recording
      AFP  -  476 words
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      37 26 There is a man who carries a red box everywhere he goes. Astory about a box that holds big dreams for a little country Now available in Chinese Now on sale at all major bookstores and www.stpressbooks.com.sg
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      165 26 Presented to you by WHAT YOU WILL LEARN How to bridge between short term trading and long term investing with the integration of FA and TA Know the interactions of macroeconomic indicators and stocks in bullish and bearish markets How to manage trader/investor psychology of greed and fear Learn the
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      32 26 QQV PROPERTY O l\A MAGAZINE SRX.com. sg Find the Right Home at the Right Price Buying Opportunities Property Outlook 2016 ft srx.com. sg/property-magazine I* v i 58 11 in Jh Download at
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      758 27 VISUAL STORYTELLING We live in an age of information abundance and attention scarcity where audiences have lesser time to take in information, and you may even have to fight for their attention to convey your message. In this course, learn how you can plan and design infographics to send impactful
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  • TRANSPORT
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      Lock icon Airports tighten security after Brussels attacks
      769 28 Turnbull reassures Australians, blames Europe’s porous borders, lax security for the blasts REUTERS Sydney SEVERAL countries have tightened or reviewed airport security following twin explosions at Brussels Airport, as Australian Prime Minister Malcolm Turnbull on Wednesday blamed Europe’s porous borders and lax security for
      REUTERS; PHOTOS: REUTERS  -  769 words
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      Lock icon Chinese airlines gain from no-hedge policy
      568 28 Big Three expected to post at least 70 per cent surge in net income for 2015 amid plunge in oil prices BLOOMBERG Beijing CHINA’S airlines are reaping the benefits of a policy not to hedge in the oil market, unlike some of their rivals
      BLOOMBERG  -  568 words
    • Article
      Lock icon US carmakers may seek changes to federal fuel-economy rules
      809 28 NYT Detroit SINCE agreeing to tough new federal fuel-economy standards five years ago, carmakers have been methodically improving the petrol mileage of their vehicles and reducing emissions harmful to the environment. But despite investing billions in fu-el-saving technologies and introducing a
      NYT  -  809 words
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      28 28 WHAT’S UP, WHATSAPP GEN? Are children losing social skills? HE MIXES BUSINESS WITH CHARITY GET YOUR COPY TODAY TO ADVERTISE: CALL SHAN (*****861) KALWANT (*****327) OR NISHAL (*****438)
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      54 28 FULL-DAY WORKSHOPS 2016 MARCH SERIES M A R 1 6 30WEDNESDAY SPH News Centre 9.30am to 6.00pm SURVIVING AND THRIVING CORPORATE STORMS Trainer Suganthi Shivkumar Early Bird by 25 Mar$489 Price From 26 Mar$589 Productivity and Innovation Credit (PIC) Claimable To register or find out more about our workshops, visit
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      17 28 Choose from Prime Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Tenders Auctions Notices
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  • GOVERNMENT & ECONOMY
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      Lock icon Retiring Zeti hopes for closure on 1MDB with administrative action
      794 29  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur BANK Negara Malaysia’s (BNM) decision to take administrative action against 1MDB for breaches of the Financial Services Act (FSA) requires the endorsement of Attorney-General Mohd Apandi Ali, says central bank governor Zeti Akhtar Aziz
      794 words
    • Article
      Lock icon Mahathir sues Najib, alleging abuse of power
      372 29 REUTERS Kuala Lumpur FORMER Malaysian premier Mahathir Mohamad filed a suit against scandalplagued Prime Minister Najib Razak on Wednesday, alleging corruption and abuse of power, his law firm said, the latest salvo in Dr Mahathir’s efforts to remove Mr Najib from office. But
      REUTERS  -  372 words
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      Lock icon Priority shift in Japan could alter emphasis of Abenomics
      682 29  -  Abe is almost certain to delay raising the sales tax in April 2017, signalling a move towards using fiscal stimulus By Anthony Rowley btworld@sph.com.sg Tokyo IT now appears all but certain that Prime Minister Shinzo Abe will postpone the politically risky
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      Lock icon Cruz’s win in Utah gives glimmer of hope to establishment Republicans
      709 29 REUTERS Washington US Republican front-runner Donald Trump swept to victory in Arizona on Tuesday but rival Ted Cruz showed some fight with a win in Utah that gave hope to establishment Republicans who fear Mr Trump would lead the
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      Lock icon New home sales rebound in Feb but signs indicate loss of momentum
      385 29 LATEST US DATA REUTERS Washington SINGLE-FAMILY home sales in the US rebounded in February, but the gain was concentrated in one region, which could suggest a loss of momentum in the housing market. The Commerce Department said on
      REUTERS  -  385 words
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      11 29 Time to explore using ‘fiscal space’ to stimulate economies, Page 31
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      126 29 THE BUSINESS TIMES NOTICES IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF EVERMARCH HOLDINGS PTE LTD (In Creditors' Voluntary Liquidation) Reg. No. *****3823M NOTICE OF MEETING OF CREDITORS NOTICE IS HEREBY GIVEN that a meeting of the creditors of the abovementioned Company will be
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  • OPINION
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      Lock icon Small but painful sacrifices needed to deal with growing terror threat
      567 30 EDITORIAL THE devastating attacks in Brussels on Tuesday morning served yet another painful reminder to the rest of the world of the serious and ongoing threat of terrorism. The death toll from three coordinated bombings in the Belgian capital
      567 words
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      Lock icon America running the risk of self-inflicted economic wound
      851 30  -  THE BOTTOM LINE By Robert Samuelson THE WASHINGTON POST WRITERS GROUP IN THIS bitter US presidential election campaign, one area of agreement unites the major candidates: trade. Bernie Sanders brags that he has opposed all recent trade agreements; Hillary Clinton now rejects
      THE WASHINGTON POST WRITERS GROUP  -  851 words
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      Lock icon Easing taxes to create global insurance hub
      1388 30  -  Improvements targeted at innovation, people and regulation can enhance Singapore’s current insurance ecosystem. BY WOO SHEA LEEN, YIP YOKE HAR AND ANG SOCK SUN SINGAPORE BUDGET 2016 ecosystem.BY WOO SHEA LEEN, YIP YOKE HAR, ANG SOCK SUN T The writers are respectively insurance
      FREEIMAGES  -  1,388 words
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      Lock icon Time to explore using ‘fiscal space’ to stimulate economies
      960 31  -  COMMENTARY By Anthony Rowley in Tokyo IT MAY be premature to suggest that the world is turning its back on monetary policy as a means of spurring economic growth and defeating deflation, but it is true that fiscal stimulus is being
      960 words
    • Article
      Lock icon Brussels attacks bring terror to heart of Europe
      1067 31  -  By Andrew Hammond T The writer is an associate at LSE IDEAS (the Centre for international Affairs, Diplomacy and Strategy) at the London School of Economics BRUSSELS was struck on Tuesday by major, apparently coordinated terrorist bombings at the airport and on
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      Lock icon MR TRUMP GOES TO WASHINGTON
      1199 31  -  His visit to the capital on Monday is part of a new strategy to look more presidential, demonstrating to Americans that he has what it takes to occupy the White House By Leon Hadar in Washington HE IS hoping that starting in January 2017, he
      PHOTO: BLOOMBERG  -  1,199 words
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      922 32 THE BUSINESS TIMES V’-a-'V Shipping times Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville APL Columbus V010E 23 May 06 Jun 22 Jun 26 Jun 29 Jun 01 Jul 03 Jul 06 Jul 08 Jul 10 Jul
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  • LIFE & CULTURE
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      Lock icon China’s Botox boom a boon for HK firm
      855 33 Union Medical forecasts mainland’s medical aesthetics market to double to US$11.3b by 2020 BLOOMBERG Hong Kong FRETTING about frown lines and crow’s feet can start early. In China, women in their 20s and 30s are spending on therapies to smooth their wrinkles
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      Lock icon Hindu temple wants deposit interest in gold
      311 33 REUTERS New Delhi THE world’s richest Hindu temple is asking to be repaid in gold for longer-term deposits it makes under the Indian government’s monetisation scheme in order to make the plan more attractive to the temples that are sitting on thousands of
      REUTERS  -  311 words
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      Lock icon Welcome to New York, where boozing, gambling and fighting are now legal
      1231 33 NYT Albany, New York GAMBLING. Hand-to-hand combat. Booze. Who needs Las Vegas when you’ve got New York? Under the guidance of governor Andrew Cuomo, a state known for its liberal leanings has been revelling in a less-than-Puritanical approach
      NYT; PHOTOS: REUTERS  -  1,231 words
  • Page 33 Miscellaneous
    • Miscellaneous
      Lock icon Page 33 Miscellaneous Column 1
      322 33 CRYPTIC CROSSWORD Across 1 Sees term out, academic term (8) 5 Criminal gang, Italian (6) 9 Watchful attendant behind old boy (9) 11 Slightly reduced, modest object (5) 12 Page one vulgar infringement of copyright (6) 13 One feeding ruminants, back together again following separation (8) 15 Wild rose experts
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