The Business Times, 27 July 2016

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Total Pages: 26
1 26 The Business Times
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  • Title Section
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    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 Wednesday, July 27, 2016
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  • Article, Illustration
    Lock icon DAILY DIGEST
    198 1 An audit of government bodies uncovers lapses in financial controls and governance of public funds which have led to the loss of government revenue and raised concerns over governance practices. TOP STORIES 2 A surge in Singapore’s electronics output in June is not enough to convince economists of
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  • Article, Illustration
    Lock icon S$100m fund set aside to boost quality and standards ecosystem
    709 1  -  Q&S will be key pillar of Singapore’s innovation-driven economy, says DPM Tharman SINGAPORE’S FUTURE ECONOMY By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE government has a budget of up to S$100 million over the next five years to enhance Singapore’s quality
    PHOTO: SPRING S’PORE  -  709 words
  • Article
    Lock icon Businesses unfazed by hike in EP qualifying pay
    931 1  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore BUSINESSES appear to take in their stride the increase in qualifying salary for Employment Pass (EP) applications, having already read the signs put out from earlier this year, but associations have voiced their concerns for the
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  • Article
    Lock icon MARKETS
    26 1 Tuesday Change STI 2,933.44 +3.59 KL Comp 1,661.42 -6.84 Nikkei 225 16,383.04 -237.25 Hang Seng 22,129.73 +136.29 Shenzhen B 1,149.78 +6.29 Dow(11.45am EDT) 18,416.43 -76.63
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      41 1 8 "887 1 8 1 *****1 M THE BUSINESS TIMES 40TH ANNIVERSARY RECORDING OLYMPIC DREAMS SINCE 1932 Q OMEGA OFFICIAL TIMEKEEPER AVAILABLE AT: Ion Orchard 6509 9712 Marina Bay Sands 6225 2393 Raffles City 6338 3676 Resorts World Sentosa 6723 8004
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      26 1 SMART CITIES Singapore companies knocking on India’s door OPINION 22 HOCK LOCK SIEW Wild profit swings stand in way of Wilmar’s consumer ambition COMPANIES MARKETS 8
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      14 1 OIL MARKET Slightly higher prices in H2 as oversupply eases: World Bank ENERGY COMMODITIES/15
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  • TOP STORIES
    • Article
      Lock icon S$50m unauthorised investment by Mindef among lapses flagged by AG
      1318 2  -  Auditor-General says some of the lapses led to loss of revenue and raised concerns about governance in government departments and stat boards By Michelle Quah michquah@sph.com.sg @MichelleQuahBT Singapore AN audit of Singapore government bodies has uncovered lapses in financial controls
      1,318 words
    • Article, Illustration
      Lock icon S’pore industrial output dips 0.3% in June as biodmed contracts
      633 4  -  Electronics and precision engineering the only clusters to improve; economists say Brexit impact yet to be felt By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore A SURGE in Singapore’s electronics output in June was not enough to convince economists of a manufacturing
      Source: Singapore Economic Development Board  -  633 words
    • Article
      Lock icon S’pore may overtake London in fintech amid Brexit fallout
      461 4  -  MIT report says there’s “significant government effort” to support fintech innovators in the Republic By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore AMID the “Brexit” fallout, Singapore could be the first to overtake London as the fintech capital of the world, an MIT
      461 words
    • Article, Illustration
      Lock icon Debate ensues over the kind of startups S’pore needs
      640 4  -  STARTUPS By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore A DEBATE took place between industry players on Tuesday about what lies around the bend for startup companies in Singapore. One camp plumped for “unicorns”, that is, startups valued at more than US$1 billion,
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    • Article, Illustration
      Lock icon Mandai masterplan tweaked to lower impact on environment
      710 4  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore CHANGES have been made to the initial plans to transform Mandai into a mega wildlife and nature attraction, so as to reduce the impact of the development on the environment and biodiversity in the area. For
      Source: Mandai Park Holdings  -  710 words
    • Article
      Lock icon June new-home sales rise at fastest pace since Feb ’08
      560 5 Broader picture for residential property shows steady gains fuelled by stable employment and low borrowing costs LATEST US DATA BLOOMBERG Washington PURCHASES of new US single-family homes rose in June to the highest level in more than eight years, indicating
      BLOOMBERG  -  560 words
    • Article
      Lock icon McDonald’s eyes US$400m for S’pore, Malaysia franchises
      265 5 BLOOMBERG Hong Kong McDonald’s Corp is planning a sale of 20-year franchise rights in Singapore and Malaysia that could collectively fetch at least US$400 million, people with knowledge of the matter said. Suitors for the fast-food operations in the two South-east Asian markets
      BLOOMBERG  -  265 words
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      98 2 KONICA MINOLTA “In order to keep Konica Minolta at the forefront of technology, I start by challenging and transforming myself first.” HIDEAKI KUBOTA Regional Human Resource Konica Minolta Business Solutions Asia Giving Shape to Ideas k m ii} a i a i. ''Saa -> i m A At Konica Minolta,
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  • Page 5 Advertisements
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      20 5 Hire pest control specialists or publicise your services in CLASS 116 To advertise, call the Print Classified Hotline: 1800-289 9988
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      508 5 4 4 it Allianz Dynamic Asian High Yield Bond r 0L f 1 I 1 k Riding the wave of high yielding opportunities across Asia Vi 1 ft /> f > V r r^i r> ■j'ji x V a 5) 3RCT l w > i Asia enjoys strong fundamentals and
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  • COMPANIES & MARKETS
    • Article
      Lock icon Marina Bay Sands Q2 earnings dip 1.7% to US$357m
      570 6  -  Growth in slot revenues, resilience of room rates and mall revenues help to counter softer gaming volumes By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore MARINA Bay Sands saw its Q2 profit for the three months ended June 30 slip 1.7 per cent
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    • Article
      Lock icon Yoma posts Q1 profit fall; hopeful of progress in Myanmar
      360 6  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore YOMA Strategic Holdings, which runs the KFC chain and real estate businesses in Myanmar, warned of project delays amid reviews by the new government in Myanmar but said it is optimistic of “swift decisions”
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    • CORPORATE DIGEST
      • Article
        Lock icon PLife Reit
        61 6 PARKWAY Life Real Estate Investment Trust (PLife Reit) on Tuesday posted a 10.2 per cent fall in distribution per unit (DPU) for the second quarter, due to the absence of a one-off distribution of divestment gain, it said. DPU for the three months ended June 30, 2016, stood
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      • Article
        Lock icon StarHub
        56 6 BLOOMBERG London OOREDOO QSC, the Qatari-owned phone carrier, is considering selling its shareholding in StarHub Pte Ltd, according to people with knowledge of the matter. The company is working with HSBC Holdings Plc to gauge potential interest in its stake in Singapore’s second biggest phone company, the people said,
        BLOOMBERG  -  56 words
    • Article
      Lock icon Swiber’s reply to queries draws flak from critics
      921 7  -  Questions centre on timeliness of disclosures By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore SWIBER Holdings’ reply to Singapore Exchange (SGX) queries relating to recent disclosures and a BT report has drawn flak from critics including NUS Business School's associate professor Mak Yuen
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    • Article
      Lock icon Jinjiang Environment offers 92.42m IPO shares at S$0.90 each
      315 7  -  By Tan Effie taneffie@sph.com.sg Singapore CHINA Jinjiang Environment Holding Company Ltd (Jinjiang Environment), a waste-to-energy (WTE) operator in China, has launched its initial public offering (IPO) for a Singapore Exchange (SGX) mainboard listing on Monday. The company is offering approximately 92.42
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    • Article
      Lock icon Soo Kee launches bullion business and new HQ at Changi Business Park
      379 7  -  By Choo Yun Ting yuntingc@sph.com.sg Singapore CATALIST-LISTED jeweller Soo Kee Group launched its bullion products and services arm SK Bullion on Tuesday, as it opened its new corporate headquarters in celebration of the company’s 25th anniversary. Soo Kee’s
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    • Article
      Lock icon Mapletree Commercial Trust’s DPU up 1% in Q1
      557 8  -  It’s proposing an offering of 727.7m new units to raise about S$1.02b at least to fund acquisition By lynkhoo@sph.com.sg Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore AMID a challenging landscape for office and retail property, Mapletree Commercial Trust (MCT) reported a one per cent
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    • Article
      Lock icon Higher rental rates lift Mapletree Industrial Trust’s Q1 DPU
      492 8  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore HIGHER rental income helped raise mainboard-listed Mapletree Industrial Trust’s (MIT) first-quarter distributable amount by 6.8 per cent year on year to S$ 51.5 million. Distribution per unit (DPU) came in at 2.85 Singapore cents, up
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    • Article
      Lock icon Wild profit swings stand in way of Wilmar’s consumer ambition
      960 8  -  HOCK LOCK SIEW BY ANDREA SOH ‘IN the commodities business, if you’re right every quarter, then you don’t have to work for a living, you just stay home and speculate.” Wilmar International’s chief executive officer Kuok Khoon Hong said this
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    • Article
      Lock icon Katrina Group sees strong debut on Catalist
      269 8  -  HOT STOCK By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore CATALIST-LISTED food and beverage (F&B) firm Katrina Group had a strong trading debut on Tuesday. The group said on Monday that it had completed placement of its 35.8 million new shares to raise gross proceeds
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    • Article
      Lock icon 8Telecom unit set to revolutionise use of LTE networks
      602 8  -  By Jacquelyn cheok jaccheok@sph.com.sg @JacCheokBT Singapore MAINBOARD-LISTED 8Telecom is on the cusp of a breakthrough, thanks to 51 per cent subsidiary Arete M. The latter a homegrown infocomm services company founded by telecommunications veteran Tang Pen San is said to be
      602 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 10 STI Catalist Straits Times index July 26,2016 2,933.44 +3.59 (+0.12%) Current streak 1 day Day high 2,934.02 Day low 2,902.26 52-week high 3,313.42 (July 27, 2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist index July 26,2016 451.71 +0.93 (+0.21%) Current streak 1 day Day high 453.74 Day low
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    • Article, Illustration
      Lock icon Consumer-linked stocks help STI inch up
      624 10  -  Thai Beverage, Singtel, CapitaLand Mall Trust and ComfortDelGro drive blue-chip index as banks take back-seat STOCKS By Melissa Tan melissat@sph.com.sg @MelissaTanBT A MIXED plate of stocks directly or indirectly related to consumers was coincidentally the main reason the local benchmark index managed to eke
      Source: Bloomberg  -  624 words
    • Article
      Lock icon STI STOCKS
      309 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 256 +9 256/248 256 209 6 6751.6 CapitaCom Trust 152 xd unch 152/147.5 158.5 122.5 5.7 4493.6 CapitaLand 316 -2 319/314 341 267 12.6 2.8 *****.6 CapitaMall Trust 220 cd +5 220/215
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    • Article
      Lock icon MOST ACTIVE
      34 10 VOLUME Annica 208,009,600 Katrina 52,990,800 Noble 50,407,900 Ezra 45,231,100 CNMC Goldmine 41,719,200 Market volume 1,465,056,000 VALUE Singtel 76,858,118 DBS Grp 64,556,668 Ascendas Reit 49,216,833 CapitaLand 43,220,894 OCBC Bank 42,330,523 Market value 1,039,497,000
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    • Article
      Lock icon SGX ETFs Most Active
      108 10 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 296 cd -2 583 297/295 341/254 296/297 IS MS INDIA US$ US722 +1 302 727/721 780/575 722/725 90.3 DBXT MSAsExJp US$ US3393 +7 181 3395/3363 3535/2772 3389/3400 7.8 IS ASIA HYG US$ US1097 +2
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 10 Jul 26 VALUE CLOSE BT OB/OS -152.00 -139.00 BT CADI -*****.00 -49.00 BT 10-day MA -*****.00 -15.00 FTSE ST Mid Cap 684.62 +0.58 FTSE ST Small Cap 390.40 +0.50 FTSE ST All Share 711.22 +0.14 FTSE ST China Top 162.61 -0.19 FTSE ST China 193.48 -0.85 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 July 26,2016 711.22 +0.14 (+0.02%) Current streak 1 day Day high 711.22 Day low 705.31 52-week high 791.90 (July 27, 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 July 25,2016 1,651.81 +1.61 (+0.10%) Current streak 1 day Day high 1,659.33 Day low 1,649.06 52-week high 1,883.89 (Aug 10, 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 2 8 4 0 1 0 2 9 4 Manufacturing 26 40 32 11 10 8 37 50 40 Commerce 13 22 15 0 3 4 13 25 19 Tpt/Stor/Comms 10 14 6
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 14,443 301 14,744 53,182 55 53,237 Manufacturing 93,000 239,326 332,326 116,484 1,647 118,131 Commerce 74,528 26,296 100,824 58,389 396 58,785 Tpt/Stor/Comms 131,433 3,649 135,082 195,067 385 195,452 Finance 22,903 161 23,064 162,309 24 162,334 Construction
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    • Article
      Lock icon GAINERS
      74 10 BY CENTS CLOSE UP 52w high/low DBXT Nifty50 ETF10 ***** 302.4 1.7 *****/***** GLD US$ ***** 107.1 0.6 *****/***** DBXT MSKorea US$ 5585 51.5 0.7 5585/4478 Great Eastern 2180 49.0 2.3 2409/1870 DBXT CSI300 US$ 826 32.6 3.0 1145/700 BY PERCENTAGE CLOSE UP 52w high/low Metech Intl 0.3 200.0
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    • Article
      Lock icon LOSERS
      75 10 BY CENTS CLOSE DOWN 52w high/low JSH USD 2944 -65.1 -1.6 3220/2524 JMH USD 5754 -47.5 -0.6 6103/4500 Jardine C&C 3645 -24.0 -0.7 4520/2636 DBXT MSTHAI US$ 1950 -21.7 -0.8 1966/1419 DBS Bk 4.7% NCPS ***** -20.0 -0.2 *****/***** BY PERCENTAGE CLOSE DOWN 52w high/low LionGold 0.1 -50.0 -0.1
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    • Article
      Lock icon UNUSUAL ACTIVITY
      84 10 VOL CLOSE($) CHANGE AIM 181.0 0.174 -0.016 -8.42 Alpha Energy 100.1 0.044 -0.010 -18.52 Ossia Intl 200.0 0.160 -0.017 -9.61 Tung Lok Rest 122.3 0.098 +0.007 +7.69 Hong Fok 5,351.9 0.700 +0.020 +2.94 Blumont 2,250.0 0.002 +0.001 +100.00 Next-Gen Sat 953.1 0.003 +0.001 +50.00 CNMC Goldmine 41,719.2 0.495
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    • BROKERS’ TAKE
      • Article
        Lock icon DBS | Buy
        255 10 DBS Buy Target price: S$19.30 July 26 close: S$16.20 UOB Kay Hian, July 26 We expect DBS to report a net profit of S$1,011 million in Q2 2016, a retracement of 16 per cent quarter on quarter (q-o-q) from the near record of S$1,203 million in Q1 2016. DBS has
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      • Article
        Lock icon CNMC Goldmine Holdings | Overweight
        200 10  - CNMC Goldmine Holdings Overweight Compiled by Melissa Tan Target price: S$0.43 July 26 close: S$0.495 NRA Capital, July 26 CNMC surprised the market last week following the stop-work order received on July 19. This stop-work order has since been lifted. We are of the view that the fundamentals of the
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    • Article
      Lock icon CALENDAR
      9 10 DATA I July 27 US MBA mortgage applications
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    • Article
      Lock icon Yen reaches two-week high against euro
      395 11 CURRENCIES REUTERS London THE yen hit a two-week high against the euro and rose more than one per cent against the US dollar on Tuesday, as traders dialled back expectations of how much new stimulus authorities will inject into Japan’s ailing economy. Most economists
      REUTERS  -  395 words
    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES Most active
        213 11 Jul 26 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****1 9.1 -0.4 ***** 0.1 1620 3 UOB MB eCW*****0 5.9 -0.4 5242 0.1 2000 4 OCBC Bk MBeCW*****4 7 -0.5 2856 0.1 820 3
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        377 11 In local curr In S$ In US$ dy yr dy yr dy yr Jul 25 Index Change Change Change Change Change Change World Preliminary 1298.7 -0.4 1.6 0.0 -1.7 -0.3 2.3 EAFE Preliminary 963.3 0.0 -4.9 0.4 -7.5 0.1 -3.8 Europe Preliminary 1375.3 0.0 -2.6
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        393 11 Jul 26 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Jul16 9455.00 9560.00 9412.50 9540.00 *****8 *****8 Aug16 9447.50 9565.00 9412.50 9542.50 *****4 *****8 NIKKEI 225 INDEX FUTURES Sep16 *****.00 *****.00 *****.00 *****.00 ***** *****0 Dec16 *****.00 *****.00 *****.00 *****.00 81 6022 MSCI TAIWAN
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    • FOREX RATES
      • Article, Illustration
        Lock icon HANG SENG
        2 11
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      • Article
        Lock icon INTERBANK CROSS RATES
        471 11 Jul 26 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 5.023 0.683 5.835 50.660 99.007 0.783 8.549 3.053 1.066 78.840 35.461 1.021 10.808 0.741 24.125 26.336 0.575 0.752 Canada 1.006 5.053
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        Lock icon SHANGHAI COMPOSITE
        2 11
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        Lock icon DOW JONES
        2 11
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        Lock icon NIKKEI
        1 11
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 11 Jul 26 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0199 1.0213 0.7520 0.7525 Canadian dollar 1.0262 1.0273 0.7569 0.7567 Euro 1.4929 1.4943 1.1008 1.1010 NZ dollar 0.9568 0.9578 0.7055 0.7057 Sterling pound 1.7751 1.7770 1.3089 1.3093
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 11 Jul 26 S$ Bid Offer 1-month 1.3566 1.3578 2-months 1.3571 1.3583 3-months 1.3575 1.3586 6-months 1.3581 1.3596 Source: OCBC
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 11 Jul 26 $S Offer Bid 0vernight 0.45 0.35 1-month 0.625 0.50 2-months 0.8125 0.6875 3-months 0.875 0.75 Overnight mode: 0.80 US$ Offer Bid 7 days 0.55 0.45 1 month 0.60 0.50 2 months 0.75 0.55 3 months 0.85 0.65 6 months 1.15 0.95 9 months 1.35 1.15 12
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      • Article
        Lock icon GOVERNMENT SECURITIES
        69 11 Note: Based on latest issue Source: Monetary Authority of Singapore Jul 26 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0T 0.500 01-Apr-18 99.21 99.24 99.22 5-Year NX*****X 2.250 01-Jun-21 104.05 104.13 103.95 10-Year NX*****F 2.125 01-Jun-26 103.34 103.50 103.10 15-Year NZ*****F
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 11 Jul-25 Price Net change change Last Trade Agricultural Jul-25 CBOT Soybeans (US cents/bu) 983.75 -22.75 -2.26% 12/8/2016 CBOT Soybean Oil (US cents/lb) 29.46 -0.75 -2.48% 12/8/2016 CBOT Wheat (US cents/bu) 429.00 3.75 0.88% 14/09/2016 Jul-25 LIFFE Cocoa (£/tonne) 2347.00 -37.00 -1.55% 15/09/2016 LIFFE Coffee (US$/tonne) 1778.00 -2.00 -0.11%
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    • Article
      Lock icon SGX MAINBOARD
      1738 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Company Last Sale vol ('000) High 150.5 127 AIMSAMP Cap Reit 148.5cd +2 1239 148.5 145.5 0.9 7.6 945.1 LOW Div 167.4 101 ARA Asset Mgmt 132 -0.5 75 132.5
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    • Article
      Lock icon SGX CATALIST
      259 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Last Vol Day Div C'vr GrYld 44.5 29.5 t Advancer Global 33.5 unch 1466 35 33 13.3 58 MCap High Low 19.9 8.3 t Anchor Resources 13.4 -0.3 ***** 13.8 13.2
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    • Article
      Lock icon SGX ETF
      111 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale vol 3383 2355 DBXT China50 US$ US2968 -9 4 2990 2968 8.2 High Day Low 5585 4478 DBXT MSKorea US$ US5585 +38 4 5585 5567 8.1 C'vr GrYld
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      Lock icon Page 6 Advertisements Column 1
      973 6 r. Ezion Holdings Limited v oV G v V V l: A r-r. m m 986 f Mi gS 1 5 iW 2W JKiS SSI RIGHTS ISSUE AT DISCOUNT OF S$0.290 44.23% TO PRE-ANNOUNCEMENT CLOSING PRICE OF S$0.520 PER SHARE ON 30 JUNE 2016 THE RIGHTS ISSUE Ezion Holdings Limited
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      90 7 2016 CFA Institute. All rights reserved. #CFAdifference “PERFORMANCE BUILT ON YEARS OF EXPERIENCE. SUCCESS BUILT FROM A DEEPER KNOWLEDGE OF MARKETS.” Simon Ng, CFA Ask firms why they employ investment managers with the CFA®designation and they’ll tell you that those letters represent a proven understanding of investment management, commitment to
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      437 8 InvestorRelationsHighlights Best World awarded direct selling licence in China, poised to tap world’s 2nd largest direct selling market Best World has been awarded its direct selling licence from China’s Ministry of Commerce on 7th June. The licence shall be effective upon verification by Hangzhou’s Trade Department of the service centres,
      437 words
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      92 12 SGX^ Research like a pro. Try out SGX StockFacts The free research and stock fundamentals portal dedicated to SGX-listed companies Singapore Exchange sgx.com/stockfacts This advertisement has been published for general circulation only. It is not an offer or solicitation to buy or sell, nor financial advice or recommendation, in relation
      92 words
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  • REAL ESTATE
    • Article
      Lock icon Sun Hung Kai slices margins to push sales, beats target
      350 13 Developer sold 1,438 units worth HK$18.7b in the first six months, but margins said to have halved to 20% BLOOMBERG Hong Kong SUN HUNG KAI Properties Ltd, Hong Kong’s biggest developer by market value, beat its residential sales target for
      BLOOMBERG  -  350 words
    • Article
      Lock icon Brooklyn developer Leser Group taps Israeli market for 125m shekel bond issue
      490 13 BLOOMBERG New York BROOKLYN developer The Leser Group Ltd is selling 125 million shekels (S$44.1 million) of bonds in Israel, reopening a market that was shut to North American real estate companies after Canadian developer Urbancorp Inc’s April
      BLOOMBERG  -  490 words
    • Article
      Lock icon Mainland Chinese underpin HK luxury rents: Savills
      228 13 BLOOMBERG Hong Kong CHINESE mainlanders are underpinning high-end residential apartment rents in Hong Kong as expatriate housing budgets in the financial industry are being slashed, according to Savills plc. Vacancies for luxury apartments remain low and budgets of HK$40,000 (S$ 7,000) to HK$
      BLOOMBERG  -  228 words
    • Article
      Lock icon Overseas buyers of Vancouver homes face additional tax
      266 13 BLOOMBERG Toronto CANADA plans to tax overseas investors buying homes in Vancouver, one of North America’s hottest property markets, as it seeks to tamp down price gains in an area that absorbed more than C$1 billion (S$1 billion) of foreign money in
      BLOOMBERG  -  266 words
    • Article, Illustration
      Lock icon New York’s first zoning resolution turns 100
      665 13 NYT New York URBAN lore says that the massive Equitable Building at 120 Broadway in Lower Manhattan a 40-storey extrusion of a whole city block, unrelieved by setbacks and capable of housing 16,000 workers at once was responsible for the enactment 100 years
      NYT; PHOTO: AFP  -  665 words
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      369 13 i with the freedom of your own personal assistant Experience the best of city living when you stay at Pan Pacific Serviced Suites Beach Road, Singapore or Pan Pacific Serviced Suites Orchard, Singapore. Attentive round-the-clock Personal Assistants will help ease you into the rhythm of daily life, whether it is
      369 words
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  • BANKING & FINANCE
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      772 14 comex SINGAPORE’S BIGGEST I.T. AND CONSUMER ELECTRONICS EXHIBITION BOOK YOUR SPACE! -■fgfc SELL YOUR TECH PRODUCTS 8 SERVICES TO THOUSANDS OF CONSUMERS DIRECTLY 8-11 SEP 2016 SUNTEC SINGAPORE 1-3,486 TRADE-IN STAR BUYS‘GAMEX RESERVE YOUR BOOTH] Tel: 6747 4620 £3 sales@exhibitsinc.com.sg www.comexshow.com.sg n ComexITShow ORGANISED BY: Exhibits Inc A SUBSJtXARY Of
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      448 14 A U G 1 6 11THURSDAY SPH News Centre 9.00am to 5.00pm UNLEASH THE COLLABORATIVE EFFORT OF TEAMS FOR INCREASED ENGAGEMENT, PRODUCTIVITY AND RESULTS Trainer Dinah Leong P R I C E $620.60 To register or find out more about our workshops, visit http://learning.stjobs.sg/ workshops STJOBS LEARNING IN THE MATTER
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  • ENERGY & COMMODITIES
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      126 15 16 -18 SEPTEMBER 2016 GET IN THE HEART OF THE SINGAPORE NIGHT RACE AND HOST YOUR EVENT IN STYLE AT OUR DEDICATED SUITES OR PRIVATE FUNCTION ROOMS Private Suites and packages are available with cocktail and dinner menus. For reservations and enquiries, please call 6845 1018, visit www.marinamandarin.com.sg/trackview or email
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      21 15 majulahmomentsRelivemets FORLOCAL POSTINGONLY POSTAGE PREPAID LIMITED EDITION COLLECTOR’S POSTCARD BOOK ONLY 1,500 COPIES PRINTED Available at good bookstores and www .stpressbooks.com.sg
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      169 15 Celebrating our 10th anniversary, INVEST Fair 2016 brings together renowned world-class speakers and experts in the region to share the latest development and outlook in the financial industry. EVENT DETAILS Suntec Hall 401-403 REGISTER ONLINE AND DOUBLE YOUR CHANCE IN OUR LUCKY DRAW! 30th 31st July 2016 10am 7pm +65
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  • TECHNOLOGY
    • Article, Illustration
      Lock icon Yahoo’s identity crisis led to its demise – a decade in the making
      1554 16 Yahoo’s identity crisis led to its demise a decade in the making in a 2006 management exercise, staff were asked what the firm was associated with. Answers ranged from mail to news to search. It proved to be an an ominous portent. REUTERS San Francisco WHEN senior Yahoo executives gathered
      REUTERS; PHOTO: AFP  -  1,554 words
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      540 16 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF T.P.X. TRADING PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) COMPANY NO: *****3663R NOTICE OF RESOLUTIONS NOTICE IS HEREBY GIVEN THAT AT AN EXTRAORDINARY GENERAL MEETING OF THE COMPANY
      540 words
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  • CONSUMER
    • Article
      Lock icon Marijuana in edibles getting into Colorado children’s hands: study
      349 17 NYT Denver TO A child on the prowl for sweets, that brownie, cookie or bear-shaped candy left on the kitchen counter is just asking to be gobbled up. But in states that have legalised marijuana for recreational use, notably Colorado, that
      NYT  -  349 words
    • Article, Illustration
      Lock icon Casio enters luxury watch market
      503 17  -  It launches limited-edition premium timepiece to commemorate the 20th anniversary of the MR-G series By Chin Yong Chang ycchin@sph.com.sg Singapore CASIO has released a limited-edition G-Shock MR-G timepiece called MRG-G1000HT to commemorate the 20th anniversary of the launch of the MR-G series in its G-Shock
      PHOTO: CASIO  -  503 words
    • Article
      Lock icon Wanda boss heads for record M&A year with US$16b in deals
      455 17 BLOOMBERG Hong Kong BILLIONAIRE Wang Jianlin is headed for a record year of mergers and acquisitions (M&A) as the Chinese tycoon seeks to build an entertainment empire that could challenge Walt Disney Co by the end of the decade.
      BLOOMBERG  -  455 words
    • Article
      Lock icon HK jeweller planning diamond wholesale business in US
      354 17 BLOOMBERG Hong Kong CHOW TAIFOOK Jewellery Group Ltd plans to expand in the US market by selling diamonds to retailers there, as it seeks to offset effects of a slowdown in China that has hurt luxury sales and led profits to plunge.
      BLOOMBERG  -  354 words
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      175 17 A ntUreXyc cn c Everyone loves a pampering flight. A welcome bubbly champagne, Rimowa luxurious amenity kit, slip into a comfy pajamas and your seat, now a flat bed. That's cozy. Royal s a ft an Check into our prestigious lounges, Transit within 0:45 to 3 hours in Taipei, rest
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  • TRANSPORT
    • Article, Illustration
      Lock icon Solar-powered plane completes historic round-the-world trip
      764 19 Flight caps remarkable 42,000 km journey without a drop of fuel to promote renewable energy AFP Abu Dhabi SOLAR Impulse 2 landed on Tuesday in the United Arab Emirates, completing its epic journey to become the first sun-powered aeroplane to circle the globe without
      AFP; PHOTO: AFP  -  764 words
    • Article
      Lock icon Food for thought as ICS tackles big issues
      615 19  -  STRAIT TALK BY DAVID HUGHES THE Northern Summer is upon us. Countless shipping executives are suddenly on leave as school holidays start and a significant portion of the global maritime industries, and the political machinery of Europe switches to autopilot. This can
      615 words
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Joko hits his stride with several key policy wins
      978 20 Indonesia’s president is also sounding tough on terrorism and against neighbours over territory, including China BLOOMBERG Jakarta JOKO Widodo won the Indonesian presidency in 2014 by campaigning as a man of the people who could tackle graft and stand up to
      BLOOMBERG; PHOTO: REUTERS  -  978 words
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      Lock icon Taiwan to launch controversial probe into party assets
      446 20 Opposition KMT, which has faced questions about its vast wealth, blasts move AFP Taipei TAIWAN is to launch an official investigation into the ill-gotten assets of political parties in a move blasted by the opposition Kuomintang (KMT) as persecution. The move comes
      AFP  -  446 words
    • Article, Illustration
      Lock icon UK borrowing expected to rise materially next year
      916 21 Darker post-Brexit outlook means policies the Conservative government had pursued since 2010 needed to change, says finance minister REUTERS London BRITAIN could borrow nearly £65 billion (S$ 116 billion) more than planned in the next couple of years as new finance minister
      REUTERS; PHOTO: BLOOMBERG  -  916 words
    • Article
      Lock icon Longer-term Abenomics targets recede further out of reach
      622 21  -  Goal of achieving nominal GDP of 600t yen by fiscal 2020 could not be achieved By Anthony Rowley btworld@sph.com.sg Tokyo TARGETS set by Japan’s Prime Minister Shinzo Abe under his Abenomics policies for economic growth and inflation slipped further on Tuesday when
      622 words
    • Article
      Lock icon 1MDB advises caution on financial statements
      297 21 BLOOMBERG Kuala Lumpur 1MALAYSIA Development Bhd (1MDB) said its audited financial statements for 2013 and 2014 shouldn’t be relied on after US prosecutors said more than US$3.5 billion was misappropriated from the fund during a period that included those years. 1MDB also said that
      BLOOMBERG  -  297 words
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      42 20 ADVANCE f 'Nr ■^Po f **ai mL Pro r1 fxecut/^Ms s*» v *"v 7^46 a’*aYOUR CAREER Your career progression is now at your fingertips. Curated mid-high level positions for your consideration at www.stjobs.sg/executive. Find yours today! III! r_i STJOBS I O0 STJobs.sg
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  • Page 21 Advertisements
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      1955 21 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices RAMBA ENERGY LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. *****1668R) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Ramba Energy Limited (the “Company”) will be held at 11 Bedok North Avenue
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  • OPINION
    • Article
      Lock icon Yahoo sale a cautionary tale of need to be nimble and innovative
      684 22 EDITORIAL The sale of the core Web assets of Yahoo! to Verizon for US$4.8 billion marks an end to one of the pioneering companies that was instrumental in making sense of the chaotic World Wide Web as the
      684 words
    • Article
      Lock icon Hold Blair, Bush accountable for Iraq, Afghan wars
      794 22  -  THE BOTTOM LINE By Neil Behrmann T The writer is BT’s London correspondent THE 12-volume Chilcot report is a reminder that the Iraq and Afghanistan wars not only precipitated a humanitarian and geopolitical crisis, but are a major cause of global economic
      794 words
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      Lock icon Knocking on India’s Smart Cities door
      1292 22  -  With S$16 billion worth of projects planned in 33 cities thus far, out of a total of 98, this is an attractive opportunity for Singapore companies to pursue. BY TIMOTHY SUN BY TIMOTHY SUN T The writer is centre director (Chennai) at IE Singapore.
      PHOTO: REUTERS  -  1,292 words
    • Article
      Lock icon Sustainability reporting: going beyond basics in deliberations, decisions
      885 23  -  COMMENTARY By Fang Eu-Lin T The writer is sustainability risk partner at PwC Singapore THE Singapore Exchange (SGX) recently introduced sustainability reporting guidelines which will take effect for any financial year ending on or after Dec 31, 2017, on a “comply or
      885 words
    • Article
      Lock icon Rate cuts are better than negative rates
      700 23  -  By Paul Donovan T The writer is global chief economist at UBS. His latest book The Truth About Inflation was published by Routledge in April 2015. MONETARY policy has become increasingly complicated. We have rising interest rates in some parts of the world.
      700 words
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      Lock icon Collaboration, education key to Singapore’s ‘Smart Nation’ future
      987 23  -  A continued focus on the areas of science, technology, engineering and mathematics is critical to staying competitive on the global stage. BY LIM TIT MENG BY LIM TIT MENG T The writer is chief executive of Science Centre Singapore and co-chairman of
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      1973 24 THE BUSINESS TIMES Shipping times 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 CALMY CORAL 103 60 1/8 3/8 6/8 POSITIVE PIONEER 104 100 3/8 5/8
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      245 24 ENG LEE SHIPPING CO PTE LTD Tel: *****222 (10 Lines) Fax: *****174/*****960 Website: www.englee.com.sg/Email: marketing@englee.com.sg CR No: **********0C REGULAR FEEDER SERVICES TO INDONESIAN (DE1) VESSEL VOY SIN ETA SIN ETD DESTINATION FREQUENCY Marco Polo 294 PRW097 28/07/2016 29/07/2016 Pelindo/Perawang DAILY Marco Polo 902 BST002 29/07/2016 30/07/2016 Buatan/Buatan DAILY Marco Polo
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  • LIFE & CULTURE
    • Article
      Lock icon Scientists shine a light on an ancient organism that died 4b years ago
      1213 25 Was the Last Universal Common Ancestor the first life on Earth, or just the luckiest? WP Washington IT was Charles Darwin who first guessed at the mysterious creature that gave rise to all life as we know
      WP  -  1,213 words
    • Article, Illustration
      Lock icon Museum sketches bright future for art in Indonesia
      615 25 AFP Jakarta FROM Jakarta to Bali and Yogyakarta, the Indonesian art world is flourishing. Buoyed by a growing, affluent middle class at home as well as interest from international buyers, numerous boutique galleries and artists’ communities have sprung up, while events such
      AFP; PHOTO: AFP  -  615 words
    • Article
      Lock icon No *****, there’s a museum for that
      239 25 NYT England THERE are museums devoted to pretty much everything: bad art, instant ramen, hair. Now, there is a museum in southern England devoted to excrement. The National Poo Museum, which opened in March at the Isle of Wight Zoo in Sandown, was
      NYT  -  239 words
    • Article, Illustration
      Lock icon Harry Potter and the Cursed Child story already a US best-seller
      458 25 REUTERS New York HARRY Potter is casting a spell, again, over the publishing industry. Nine years after the publication of the seventh and last book in the best-selling boy wizard series, pre-orders for the script of a new, sold-out
      REUTERS; PHOTO: AFP  -  458 words
  • Page 25 Miscellaneous
    • Miscellaneous
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      315 25 CRYPTIC CROSSWORD Across 1 Trains or parts of them (7) 5 Company in a rush for strike (7) 9 Reveal permit to board (3,2) 10 Bill joins detectives sent out following crashes (9) 11 I can put back appearing before clergyman’s office, but it’s not right (10) 12 Big game
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  • EXECUTIVE MONEY
    • Article, Illustration
      Lock icon Treasuries glut swells to US$10t as deficits loom
      1076 26 Pundits sound the alarm as Treasuries tumble on the back of paltry revenue growth and funding issues BLOOMBERG New York NEGATIVE yields. Political risk. The Fed. Now add the US deficit to the list of worries to keep beleaguered bond investors up
      BLOOMBERG; PHOTO: AFP  -  1,076 words
    • Article
      Lock icon Currency trading rises from Tokyo to New York on policy bumps
      588 26 BLOOMBERG London CURRENCY trading rose in the six months till April across major global centres, from Tokyo to London to New York, as investors grappled with monetary-policy whiplash, surveys from central banks showed. In the UK, the world’s largest
      BLOOMBERG  -  588 words
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      40 26 Take off in your own PRIVATE WORLD EMIRATES FIRST Experience the ultimate luxury of your own private suite, fine dining at any time, over 2,500 channels and an onboard shower spa. Hello Tomorrow Onboard shower spa available on Emirates A380s
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