The Business Times, 7 September 2016

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Total Pages: 24
1 24 The Business Times
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  • Title Section
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    22 1 THE BUSINESS TIMES A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BusinessTimes MCI (P) 052/08/2016 S$1.20 CO REGN NO *****2868E Wednesday, September 7, 2016
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  • Article
    Lock icon MARKETS
    26 1 Tuesday Change STI 2,896.55 +44.81 KL COMP 1,689.92 +11.84 NIKKEI 225 17,081.98 +44.35 HANG SENG 23,787.68 +138.13 SHENZHEN B 1,187.47 +10.54 DOW (11.45am EDT)18,484.16 -7.80
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  • Article
    Lock icon DAILY DIGEST
    142 1 Some form of disclosure on rebates for bond sales by private banks is important, but a ban on incentive practices such as this would be a draconian step, said managing director of the Monetary Authority of Singapore Ravi Menon, on Tuesday. TOP STORIES 2 Swiber group’s interim judicial
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  • Article
    Lock icon Global pension funds’ assets down, but Singapore’s CPF fares better
    1133 1  -  It rose from 10th position in 2014 to 8th last year in AUM, and grew 7.9 per cent in US$ terms between 2010 and 2015, the 4th fastest globally By Michelle Quah michquah@sph.com.sg @MichelleQuahBT Singapore TOTAL assets managed by the
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  • Article
    Lock icon SGX sets up group to get to bottom of July 14 trading breakdown
    604 1  -  Its members include those from SGX’s securities market, representatives from the investment community, independent experts and software vendors By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THE Singapore Exchange (SGX) on Tuesday said that it has formed a Securities
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      5 1 *****1 *****1 THE BUSINESS TIMES
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      60 1 PM AT ASEAN SUMMIT Private sector to build Laos transshipment centre TOP STORIES 4 theSMEmagazine In the Sept/Oct issue of The SME Magazine, we take a look at how companies can innovate in line with their business models without blindly following the crowd.This month’s issue of The SME Magazine will
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      124 1 MONEY MATTERS Risk and return EXECUTIVE MONEY 23 FUTURE ECONOMY Creating an online marketplace COMPANIES MARKETS 6 BANKOFSINGAPORE Asia's global private bank What can we give a man who has everything? if 4 V w: We give him the time to give back. Our strong team of specialists works to
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  • TOP STORIES
    • Article, Illustration
      Lock icon Rebates on bond sales should be disclosed: MAS
      671 2  -  But a ban on incentive practices in private banking would be a “draconian step” By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore SOME form of disclosure on rebates for bond sales by private banks is important, but a ban on incentive practices such as
      FILE PHOTO  -  671 words
    • Article, Illustration
      Lock icon Singapore must position itself as an innovation-led economy: Iswaran
      587 2  -  He stresses need to nurture a mindset that embraces calculated risks, accepts failures SINGAPORE’S FUTURE ECONOMY By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore IT has never been easier for companies with innovative products, services, and business models to reach global markets but
      PHOTO: MTI  -  587 words
    • Article, Illustration
      Lock icon Amid fickle fortunes, Singapore could slip into irrelevance: MAS chief
      687 2  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THE managing director of Singapore’s central bank Ravi Menon reckons himself to be at the helm of a “schizophrenic” agency, toggling between seeing the opportunities to be seized and fretting over the things that
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    • Article
      Lock icon Swiber IJMs propose haircut of over US$140m
      675 3  -  Under cash flow plan, about US$11m will go to accounts payable to trade creditors owed over US$154m By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore SWIBER group’s interim judicial managers (IJMs) are said to have tabled a proposal in which trade creditors will take
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    • Article, Illustration
      Lock icon Hanjin seeks to steer its ships to Singapore, Hamburg, Busan
      590 3 BLOOMBERG Singapore SOUTH KOREA said that Hanjin Shipping Co will try to steer vessels to ports to unload cargo as the government attempts to contain global supply-chain disruptions that are stemming from the container line’s court receivership filing. The shares
      BLOOMBERG; PHOTO: AFP  -  590 words
    • Article, Illustration
      Lock icon Private sector to build Laos transshipment centre
      916 4  -  Businesses from across Asean will spearhead hub project; Member states sign initiatives for connectivity and to narrow development gap ASEAN SUMMIT By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Vientiane, Laos BY year's end, a new Asean facility will start to take shape in Laos, hurtling
      PHOTO: AFP  -  916 words
    • Article, Illustration
      Lock icon PM Lee holds bilateral meetings with Philippine, Australian and Chinese leaders
      282 4  -  By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Vientiane, Laos SINGAPORE Prime Minister Lee Hsien Loong held bilateral meetings with leaders from the Philippines, Australia and China on Tuesday on the sidelines of the Asean summits here. The 28th and 29th Asean
      PHOTO: MCI  -  282 words
    • Article
      Lock icon Asean must unite in ‘extended campaign’ against Zika: PM Lee
      564 4  -  By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Vientiane SINGAPORE’S Prime Minister Lee Hsien Loong, in foreseeing an “extended campaign” against the Zika virus in the Asean region, has urged the 10-member regional bloc to unite against the virus so that regional trade
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    • Article
      Lock icon SGX sustainability reporting requirements timely: Masagos
      713 4  -  By Andrea Soh By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore THE sustainability reporting requirements of the Singapore Exchange (SGX), applicable to listed companies, is timely, given increasing demand for such data globally. Environment and Water Resources Minister Masagos Zulkifli made this point on Tuesday as
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    • Article
      Lock icon Forum discusses ways to keep family-owned firms competitive
      409 4  -  By Vivien Shiao vshiao@sph.com.sg @VivienShiaoBT Singapore PROFESSIONALISING a family business and getting older workers onboard are some of the biggest challenges faced by family-owned companies in Singapore. At the inaugural Family Business Forum on Tuesday, organised by the Singapore Business Federation (SBF),
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      215 2 11l.jilt 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
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  • COMPANIES & MARKETS
    • Article
      Lock icon SMRT privatisation offer fair and reasonable: IFA, IDs
      801 5  -  Minority sharesholders urged to vote in support of scheme of arrangement on Sept 29 By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore THE independent directors (IDs) of SMRT Corporation have unanimously recommended that minority shareholders vote in favour of Temasek Holdings’ offer to take
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    • Article
      Lock icon OUE Realty pares stake in OUEHT through married trade
      252 5  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THE mystery behind the block trades done in OUE Hospitality Trust (OUEHT), driving up its trading volume last Friday, is only partially solved. OUE Realty, the holding company of the trust’s sponsor OUE Limited, disclosed
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    • Article
      Lock icon Delayed placement: Asiatravel says it’s keeping options open
      609 5  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore IN A clarification issued late on Tuesday evening, Asiatravel.com Holdings explained the chain of events that led to the long delay in a proposed S$100 million share placement. The online travel company was responding to media
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    • Article
      Lock icon False market: 50 shades of grey
      609 6  -  HOCK LOCK SIEW BY R SIVANITHY sivan@sph.com.sg @RSivanithyBT WHAT constitutes a false market for stocks? It’s a seemingly straightforward question but, as with many areas relating to daily trading, numerous grey areas abound. ould month-ending or year-end-ing “window-dressing’’ of stocks qualify? What about last-minute
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    • Article
      Lock icon Sim Lian offer turns unconditional
      364 6  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore THE offer to take Sim Lian Group private has turned unconditional and trading of shares in the construction and property group is headed for suspension after the final closing date on Oct 10. In a late night announcement on
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    • Article, Illustration
      Lock icon An off-the-shelf online marketplace for businesses
      1192 6  -  That’s thanks to the two co-founders of Arcadier. BY TAN EFFIE taneffie@sph.com.sg A CLOSED meeting with the president of PayPal brought together two men Dinuke Ranasinghe and Kenneth Low. They were senior executives of PayPal then. “Think about (payments) going offline,” the president said.
      PHOTO: AIDAN LOO  -  1,192 words
    • Article, Illustration
      Lock icon Fend off cyber thieves with blockchain tech
      1211 7  -  This technology may help firms protect transactions, facilitate counterparty validation and mitigate traditional cyber problems. BY MELVIN YONG MANY organisations could do more to detect and ward off the ever-evolving threat of business disruption and data loss resulting from cyber attacks, say observers.
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    • Article
      Lock icon Singapore-Shandong collaboration deepens
      253 7  -  By Tan Effie taneffie@sph.com.sg Singapore IE Singapore announced the inking of 11 memoranda of understanding at the 19th Singapore-Shandong Business Council (SSBC) meeting held in Singapore on Tuesday. Ten of the signings were projects relating to modern services across the education, healthcare and logistics and waste management
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    • Article, Illustration
      Lock icon STI / Catalist
      63 8 STI Catalist Straits Times Index Sept 6,2016 2,896.55 +44.81 (+1.57%) Current streak 2 days Day high 2,905.84 Day low 2,854.40 52-week high 3,083.07 (Oct 26, 2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist Index Sept 6,2016 437.38 +4.87 (+1.13%) Current streak 2 days Day high 437.38 Day low
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    • Article
      Lock icon GAINERS
      75 8 BY CENTS CLOSE UP 52w high/low DBXT MSAsExJp US$ 3595 153.3 3.2 3595/2772 DBS Bk 4.7% NCPS ***** 98.0 0.9 *****/***** DBXT MSKorea US$ 5976 89.5 1.1 5976/4629 Jardine C&C 4374 65.0 1.5 4520/2636 IS MS INDIA S$D 1023 47.0 4.8 1023/807 BY PERCENTAGE CLOSE UP 52w high/low Vashion
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    • Article
      Lock icon LOSERS
      74 8 BY CENTS CLOSE DOWN 52w high/low Delfi 230 -13.0 -5.3 289/193 JSH USD 3349 -12.2 -0.3 3417/2524 Global Testing 105 -10.5 -9.1 127/85 IS ASIA HYG US$ 1079 -8.1 -0.6 1116/977 DBXT MSINDIA US$ 1037 -6.8 -0.5 1042/816 BY PERCENTAGE CLOSE DOWN 52w high/low CompactMetal W*****0 0.4 -42.9 -0.3
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      Lock icon STI back in positive territory for year
      610 8  -  Upward trajectory takes benchmark index to 2,896.55 for a year-to-date gain of 0.5% TTSTOCKS By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT LEFT to its own whims with no lead from US markets that were closed on Monday for Labor Day, share prices on the local
      Source: Bloomberg  -  610 words
    • Article
      Lock icon STI STOCKS
      302 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 250 +2 251/246 257 209 6.1 6948.1 CapitaCom Trust 163 +4 163/159 163 127 5.3 4820.5 CapitaLand 323 +7 325/316 340 267 12.9 2.8 *****.8 CapitaMall Trust 219 +3 219/216 225 185
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    • Article
      Lock icon MOST ACTIVE
      35 8 VOLUME Noble 438,998,100 Rex Intl 38,682,700 ThaiBev 36,722,500 Jasper Inv 36,211,100 Golden Agri-Res 34,299,100 Market volume 1,904,605,000 VALUE Singtel 114,717,520 DBS Grp 110,906,810 UOB 92,092,237 OCBC Bank 70,843,009 Noble 59,627,018 Market value 1,365,036,000
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Sep 6 VALUE CLOSE BT OB/OS 24.00 +164.00 BT CADI -*****.00 +145.00 BT 10-day MA -*****.00 +2.00 FTSE ST Mid Cap 694.72 +8.58 FTSE ST Small Cap 383.70 +2.33 FTSE ST All Share 711.26 +9.29 FTSE ST China Top 160.76 +2.39 FTSE ST China 194.12 +3.40 FTSE
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    • Article
      Lock icon SGX ETFs
      111 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 295 +4 792 296/291 314/254 294/295 IS MS INDIA US$ US755 +5 380 757/747 772/575 751/755 94.4 Nikko AM STI ETF 299 +3 150 301/297 320/259 300/301 7.2 DBXT MS SING US$ US115.3 +2.3
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      36 8 STI FTSE ST All-Share FTSE ST All-Share index Sept 6, 2016 711.26 +9.29 (+1.32%) Current streak 2 days Day high 712.79 Day low 702.69 52-week high 743.17 (Oct 26, 2015) 52-week low 625.37 (Jan 21, 2016)
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      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE index Sept 5,2016 1,716.18 +6.21 (+0.36%) Current streak 3 days Day high 1,722.74 Day low 1,714.01 52-week high 1,779.25 (Oct 26, 2015) 52-week low 1,492.43 (Feb 12, 2016)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 3 4 0 1 0 8 4 4 Manufacturing 40 23 25 13 4 11 53 27 36 Commerce 27 12 6 2 2 2 29 14 8 Tpt/Stor/Comms 18 6 9
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 33,584 16,554 50,138 107,007 2,815 109,823 Manufacturing 110,363 27,210 137,573 127,627 1,009 128,636 Commerce 461,890 7,629 469,519 108,652 102 108,754 Tpt/Stor/Comms 141,628 2,678 144,306 235,377 266 235,643 Finance 67,951 17 67,968 307,025 3 307,027 Construction
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    • Article
      Lock icon UNUSUAL ACTIVITY
      81 8 VOL CLOSE($) CHANGE InnoPac 17,683.0 0.002 +0.001 +100.00 Advanced Systems 6,370.2 0.003 +0.001 +50.00 Mirach Energy 130.1 0.067 +0.039 +139.29 GSS Energy 1,152.0 0.050 -0.013 -20.64 Charisma Energy 15,914.6 0.009 +0.002 +28.57 Compact Metal 400.3 0.023 +0.003 +15.00 Hor Kew 1,267.1 0.305 +0.005 +1.67 Eucon 157.4 0.013 -0.002
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    • BROKERS’ TAKE
      • Article
        Lock icon Oil and gas
        156 8 DBS Group Research, Sept 6 WE raised our oil price forecasts for 2016 and 2017 by US$10 per barrel (bbl) to US$45-50/bbl and US$50-55/bbl respectively. This comes on the back of earlier-than-expected narrowing of the supply-demand gap. We expect the convergence of oil supply-demand trends to gather
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      • Article
        Lock icon Genting Singapore | Hold
        135 8 Genting Singapore Hold Target price: S$0.77 Sep 6 close: S$0.765 OCBC Investment Research, Sept 6 ACCORDING to Singapore Tourism Board (STB) figures, visitor days from China for January-June 2016 increased 17 per cent year on year despite the 55.2 per cent rise year on year in visitor arrivals. We believe
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      • Article
        Lock icon Reits | Overweight
        162 8  - Reits Overweight Compiled by Jamie Lee CIMB Research, Sept 5 ASEAN Reits have outperformed year-to-date as investors seek shelter in yield. We think there is room for more yield compression on organic or acquisition-led earnings growth prospects. We advocate investing in industrial and data centre Reits as they offer the
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    • Article
      Lock icon CALENDAR
      24 8 DATA I Sept 7 Singapore MAS survey of professional forecasters Singapore COE bidding results US Federal Reserve Beige Book US MBA mortgage applications
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    • Article
      Lock icon Aussie gains as RBA keeps quiet on unit’s strength
      378 9 CURRENCIES REUTERS London AUSTRALIA’S dollar was the biggest gainer among major currencies as US and European traders returned from summer holidays on Tuesday, jumping almost one per cent after the country’s central bank said little on its 10 per cent rise
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    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Sep 6 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.987 5.108 0.685 5.930 50.868 100.456 0.790 8.453 3.120 1.041 79.940 35.633 1.037 10.913 0.750 23.971 26.552 0.573 0.765 Canada 1.013 5.177
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        Lock icon INTERBANK CURRENCY RATES
        155 9 Sep 6 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0370 1.0379 0.7646 0.7647 Canadian dollar 1.0508 1.0521 0.7751 0.7748 Euro 1.5135 1.5152 1.1159 1.1163 NZ dollar 0.9959 0.9969 0.7343 0.7345 Sterling pound 1.8085 1.8104 1.3334 1.3338
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Sep 6 S$ Bid Offer 1-month 1.3560 1.3573 2-months 1.3560 1.3573 3-months 1.3559 1.3574 6-months 1.3560 1.3575 Source: OCBC
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      • Article, Illustration
        Lock icon HANG SENG
        2 9
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      • Article, Illustration
        Lock icon NIKKEI
        1 9
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        Lock icon SHANGHAI COMPOSITE
        2 9
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      • Article, Illustration
        Lock icon DOW JONES
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        393 9 Sep 6 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Sep16 9875.00 9905.00 9790.00 9862.50 *****5 *****3 Oct16 9897.50 9912.50 9817.50 9880.00 988 8141 NIKKEI 225 INDEX FUTURES Sep16 *****.00 *****.00 *****.00 *****.00 *****4 *****4 Dec16 *****.00 *****.00 *****.00 *****.00 ***** ***** MSCI TAIWAN
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        208 9 Most active Sep 6 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****1 13.1 1 ***** 0.1 1550 5 HSI ***** MB eCW*****9 16.3 1 5458 0.0 0 UOB MB eCW*****1 10.6 1.5 5212 0.1 1880 5
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        377 9 In local curr In S$ In US$ dy yr dy yr dy yr Sep 5 Index Change Change Change Change Change Change World Preliminary 1317.4 0.1 3.1 -0.1 -0.1 0.2 4.5 EAFE Preliminary 985.1 0.2 -2.8 0.1 -4.4 0.4 0.0 Europe Preliminary 1415.0 0.0 0.2
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 Sep 6 $S Offer Bid 0vernight 0.05 0.01 1-month 0.625 0.375 2-months 0.8125 0.6875 3-months 0.875 0.75 Overnight mode: 0.05 US$ Offer Bid 7 days 0.55 0.45 1 month 0.60 0.50 2 months 0.80 0.60 3 months 0.90 0.70 6 months 1.25 1.05 9 months 1.45 1.25 12
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      • Article
        Lock icon GOVERNMENT SECURITIES
        67 9 Sep 6 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****A 4.000 01-Sep-18 106.33 106.37 106.34 5-Year NX*****X 2.250 01-Jun-21 104.62 104.75 104.60 10-Year NX*****F 2.125 01-Jun-26 103.63 103.76 103.58 15-Year NZ*****F 2.875 01-Sep-30 110.46 110.55 110.55 20-Year NZ*****X 2.250 01-Aug-36 102.62
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 9 Sep-5 Price Net change change Last Trade Agricultural Sep-2 CBOT Soybeans (US cents/bu) 968.50 9.50 0.99% 14/09/2016 CBOT Soybean Oil (US cents/lb) 32.66 0.46 1.43% 14/09/2016 CBOT Wheat (US cents/bu) 373.25 5.00 1.36% 14/09/2016 Sep-5 LIFFE Cocoa (£/tonne) 2288.00 -2.00 -0.09% 15/09/2016 LIFFE Coffee (US$/tonne) 1855.00 14.00 0.76%
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    • Article
      Lock icon SGX MAINBOARD
      1760 10 Transaction date: Sep 6 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Company Last Sale Vol ('000) High Day 149 127 AIMSAMP Cap Reit 140 unch 1324 142 140 0.9 8.1 892.2 Div 144 101 ARA Asset Mgmt
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    • Article
      Lock icon SGX CATALIST
      392 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Last vol Day Div GrYld 0.6 0.1 t Advanced Systems 0.3 +0.1 6370 0.3 0.3 7.9 45 29.5 t Advancer Global 43cd -0.5 926 43.5 42 17.1 74.5 High LOW 19.9
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    • Article
      Lock icon SGX ETF
      159 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale vol 3226 2355 DBXT China50 US$ US3226 +18 2 3226 3210 8.9 116.2 97.5 DBXT MS SING US$ US115.3 +2.3 75 115.3 115.3 5.8 385 190 DBXT MSBrazil
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      128 5 1 LEGACY TRUST Legacy Trust Company Presents What Now For Privacy? CRS AEol. In 2018 the Common Reporting Standard becomes a reality in Singapore which means clients can no longer expect their offshore wealth to remain private. This presentation aims to explain: The new Common Reporting Standard The Exposure and
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      188 5 lilt ffl 1 I 4 M n Mil 1 i r* World’s finest Serviced Offices Fully furnished prestigious offices for 1 to 30 people, or more Dedicated receptionist answering your calls the way you would like Meeting rooms, bilingual secretaries High speed internet Global IT infrastructure 5 days free office
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  • Page 6 Advertisements
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      22 6 bird’s Eye view of tender jobs Check out the most comprehensive collection of tender notices in The Straits Times Notices. 14/myj jun
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      Lock icon Page 6 Advertisements Column 2
      82 6 STANDOUT IN YOUR FIELD This company is one of the 16 finalists of the Emerging Enterprise Award 2016. Jointly presented by The Business Times and OCBC Bank, the Emerging Enterprise Award 2016 recognises promising enterprises and startups which are up to 10 years old and have an annual turnover of
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
      44 7 o strategies to Compete in the new world G £5 Hear from SingPost, Frost Sullivan, Stamfles Group, GoGoVan, RSM and Stone Forest: Business Transformation Technology Innovation Sharing Economy Business Financial Strategies 20 th Sept 2016 2 6pm, Wilkie Edge To register: www.StoneForest.com.sg/CompeteBetter Stone Forest
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      Lock icon Page 7 Advertisements Column 2
      350 7 Learn about prevention, detection and treatment for heart related diseases and stroke from Dr Michael Lim, internationally reowned interventional cardiologist and also a regular contributor of health related articles in The Business Times every fortnightly. Learn about sleeping disorder, snoring, fatigue, and sinus problems from Dr Dennis Chua, Ear, Nose
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  • Page 10 Advertisements
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      89 10 SGX== Research like a pro. mm i i riaarnw mi ’ll jui i miit ma r F m\i 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
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Largest freehold automobile mega hub in S’pore tops out
      351 12 Carros Centre in Sungei Kadut has over 2.3 million sq ft of built-up area and comprises 383 strata units Singapore BOUTIQUE property developer BS Capital will on Wednesday top out Carros Centre, the largest freehold automobile mega hub in Singapore. Scheduled
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    • Article, Illustration
      Lock icon Hotels dangle freebies to encourage more direct bookings
      842 12 NYT New York HOTELS and online travel booking companies tend to have a marriage of convenience one that savvy travellers can exploit. When hotels are having trouble filling rooms, they will grudgingly pay Expedia and other online travel agencies commissions of 15-30
      NYT; PHOTO: NYT  -  842 words
    • Article
      Lock icon Time to move into a central London rental
      509 12 BLOOMBERG London WHEN Scarlett Gray looked for an apartment in central London two years ago, she was practically laughed out of agents’ offices. She was told those sought-after places think of a neighbourhood with rows of white-columned townhouses rarely come on the
      BLOOMBERG  -  509 words
    • Article
      Lock icon Auckland’s average house price surges over NZ$1m mark in August
      411 12 Record immigration, low interest rates and supply shortage are driving city’s housing market BLOOMBERG Auckland THE average house price in Auckland, New Zealand’s largest city, has surged above NZ$1 million (S$994,525) for the first time. The price for the Auckland
      BLOOMBERG  -  411 words
  • Page 12 Advertisements
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      135 12 fM T| I PRIME CBD STRATA OFFICE FOR SALE VW JLL BY EXPRESSION OF INTEREST Excellent unobstructed sea view and city view Direct sheltered access to Tanjong Pagar MRT Grade A specifications Premium column-free office spaces from 1,744 to 14,510 sf Generous car parking provisions with 612 lots Planned enhancements
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      17 12 Discover Greener Pastures Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices
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  • BANKING & FINANCE
    • Article
      Lock icon Sumitomo said to liquidate Japan hedge fund as clients pull out
      506 13 Redemptions have cut its assets to just over US$10m; industry is suffering its biggest outflows since 2009 BLOOMBERG Singapore SUMITOMO Mitsui Trust Holdings Inc is liquidating a Japan-focused hedge fund after investors withdrew money following poor performance, according to
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      Lock icon JPMorgan cautions Europeans about a world without QE
      469 13 BLOOMBERG London WHILE economists may be expecting the European Central Bank (ECB) to extend monetary stimulus as soon as this week, JPMorgan Chase Co is already looking ahead to the end of quantitative easing (QE) and warning investors to position themselves for
      BLOOMBERG; PHOTO: AFP  -  469 words
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      Lock icon Traders, banks team up in ‘dark pool’ trading
      403 13 ing fairness for all participants”. REUTERS London A GROUP of asset managers and banks are trying to cut the cost of “dark pool”, or anonymous trading in big blocks of shares, via a deal with a London Stock Exchange Group unit. Dark
      ing fairness for all participants”. REUTERS; PHOTO: AFP  -  403 words
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      1163 13 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices c St SINJIfl LAND limited SINJIA LAND LIMITED (Incorporated in Singapore on 26 February 2004) (Company Registration Number: *****2180C) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of Sinjia Land Limited (the “Company”) will be
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon China’s swoop on Boeing supplier points to aluminium’s future
      1193 14 Purchase of Aleris by entrepreneur Liu Zhongtian for US$2.3b indicates Chinese firms are adding downstream capacity by acquiring overseas assets BLOOMBERG Shanghai CHINA’S emergence as the world’s biggest aluminium maker has shaken up the industry, creating a surplus that forced competitors
      BLOOMBERG; PHOTO: REUTERS  -  1,193 words
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      Lock icon China giving farmers subsidies to plant soya beans
      420 14 REUTERS Beijing CHINA’S top grain province is offering farmers subsidies of 150 yuan (S$ 30.46) per mu (0.067 hectare) to rotate corn with soya beans, as it seeks to cut corn output amid huge oversupply. The move, part of a major overhaul
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    • Article
      Lock icon Australia producer Woodside eyes LNG boost
      494 14 BLOOMBERG Sydney WOODSIDE Petroleum Ltd may look to funnel gas from the Scarborough field off Western Australia to one of its existing liquefied natural gas plants after agreeing to a US$400 million deal to buy half of BHP Billiton Ltd’s stake in the remote
      BLOOMBERG  -  494 words
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      224 14 Joey Choy ShareInvestor Academy Trainer Joey is one of the Award-Winning Top Tier Remisiers (Stock Brokers) and Traders in Singapore. He was awarded Top CFD specialist in 2013, Top Account Growth Achiever and Top CFD Remisier in 2014 followed by Top Trading Representative in 2015 by Phillip Securities. His Signature
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      22 14 LIANHE ZAO B AO rasa 1*1 s 0/S0 m 0: bit.ly/ZB_G20Facts G20fiU+lill 5 things you may not know about G20 Hangzhou Summit
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  • TECHNOLOGY
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      Lock icon Samsung trips on quality control in rush to Beat Apple
      711 15 S Korean firm’s haste is putting strain on its supply chain and its manufacturing reputation REUTERS Seoul IN ITS rush to beat rival products to market, notably Apple’s new iPhone, Samsung Electronics has accelerated new phone launch cycles, but its
      REUTERS  -  711 words
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      Lock icon Tencent pips China Mobile as the country’s top company
      386 15 BLOOMBERG Shanghai TENCENT Holdings has surpassed China Mobile to become the country’s most valuable corporation, underscoring the growing importance of a vibrant private economy over lumbering state-owned enterprise. Tencent rose 4.2 per cent to HK$210.20 in Hong Kong on Monday, reaching
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      3658 15 Brand Your Assets Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your Financial Statements DUTY FREE INTERNATIONAL LIMITED DUTY FREE INTERNATIONAL LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number: *****2393E) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (“EGM") of the
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  • CONSUMER
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      Lock icon Import ban on US chicks hits China’s market
      679 16 Beijing’s ban in response to bird flu outbreak in US leads to first shortfall in chicken meat supplies in at least a decade and pushes up prices REUTERS Beijing CHINA’S near two-year ban on imports of US chickens used for breeding is
      REUTERS; PHOTO: REUTERS  -  679 words
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      Lock icon Saudis tightening their belts for Eid in age of austerity
      950 16 REUTERS Riyadh A CARTOON widely circulated in Saudi Arabia on Twitter last month showed three old men in traditional robes, named Unemployment, Prices and Poverty, looking down at a young boy with torn clothes named Salary. “When will you grow
      REUTERS; PHOTO: REUTERS  -  950 words
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      126 16 Kick-start your investment strategy with tips from $how Me The Money $how Me The Money Book 4 is now available at leading bookstores and www.stpressbooks.com.sg IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF BURBOT SINGAPORE PTE. LTD. (IN MEMBER'S VOLUNTARY LIQUIDATION) (Company Registration No.
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  • TRANSPORT
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      Lock icon Putting safety first in the Singapore Strait
      809 18  -  30 international speakers and industry specialists from different sectors of the maritime industry shared their expertise at the inaugural International Safety@Sea Conference STRAIT TALK BY DAVID HUGHES LAST week, the focus was very much on safety. International Maritime Organization (IMO) secretary-general Kitack Lim,
      809 words
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      Lock icon Vietnam carriers splurge US$6.5b on Airbus jets
      560 18 This comes as France’s Hollande visits Vietnam to spur business ties AFP Hanoi VIETNAM airlines bought 40 airplanes worth US$6.5 billion from France’s Airbus on Tuesday, as President Francois Hollande visited the communist nation to drum up business ties with one of South-east
      AFP; PHOTO: REUTERS  -  560 words
    • Article
      Lock icon Scoot, Tigerair sign MOU with ITE on passenger services education
      350 18  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore LOCAL budget carriers Scoot and Tigerair have inked a Memorandum of Understanding (MOU) on passenger services education with the Institute of Technical Education (ITE) to foster a talent pool for the aviation industry. Under
      350 words
    • Article
      Lock icon Ford shelves compact car programme for EMs
      545 18 REUTERS Detroit FORD Motor Co has shelved plans to produce a new compact car family designed mainly for emerging markets like India and China, industry sources said, reflecting disappointing sales of mainstream models in the world’s fastest growing car markets. India and China
      REUTERS  -  545 words
    • Article
      Lock icon European raiders target whisky, salmon as cargo thefts jump
      301 18 BLOOMBERG Frankfurt CRIMINALS are stealing a wider range and higher value of goods from trucks and warehouses across Europe than ever before, with foodstuffs, alcohol and clothing now more common targets than cash and electronics. Cargo thefts in Europe, the Middle
      BLOOMBERG  -  301 words
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      244 19 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 108 BST222 08/09/2016 09/09/2016 Buatan/Buatan DAILY Marco Polo 188 PRW209 08/09/2016 09/09/2016 Pelindo/Perawang DAILY Marco Polo
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  • OPINION
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      Lock icon G-20 summit hits positive notes but also leaves unfinished agenda
      558 20 EDITORIAL THE latest summit of the Group of 20 (G-20), which ended in the Chinese city of Hangzhou on Monday, was held against a sobering backdrop: sluggish global economic growth which the International Monetary Fund (IMF) predicts will be just
      558 words
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      Lock icon US-Asean friendship worth cultivating
      1387 20  -  China’s shadow looms, but ties with Asean promise gains beyond the strategic. BY SATU LIMAYE T The writer is director of the East-West Center in Washington and senior advisor for the CNA Corporation. The views expressed here are his own. He also directs the Asia Matters
      YALEGLOBAL ONLINE; REUTERS  -  1,387 words
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      Lock icon Hong Kong election sees many upsets and many firsts
      810 20  -  THE BOTTOM LINE By Frank Ching T The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 IN what was the most closely fought election in Hong Kong’s history, a record turnout on Sunday, an electorate politicised
      810 words
    • Article
      Lock icon The many extremes of Donald Trump
      870 21  -  COMMENTARY By Simon Johnson T The writer is a professor at MIT’s Sloan School of Management and the co-author of White House Burning: The Founding Fathers, Our National Debt, and why it Matters to you Washington, DC MUCH attention in the United States and
      870 words
    • Article
      Lock icon Merkel’s ebbing power boosts Theresa May’s EU leverage
      740 21  -  By David Marsh T The writer is managing director of the Official Monetary and Financial Institutions Forum GERMAN Chancellor Angela Merkel’s ebbing power further complicates the European Central Bank’s (ECB) growth policies and strengthens Britain’s negotiating leverage in the psychological and economic
      740 words
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      Lock icon Managing the pros and cons of dual-class listings a balancing act
      1388 21  -  Singapore Exchange will need to carefully assess the requirements that should be imposed on companies seeking to list a dual-class share structure here. By TAN CHONG HUAT AND CH’NG LI-LING By TAN CHONG HUAT, CH’NG LI-LING T The writers
      PHOTO: AFP  -  1,388 words
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  • LIFE & CULTURE
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      Lock icon Kolkata – where Saint Teresa left an imprint
      612 22 Kolkata where Saint Teresa left an imprint NYT Kolkata WHEN Mother Teresa’s canonization took place on Sunday, a battered-looking audience gathered in front of a screen some 7,200 kilometres east of St Peter’s Square: men with caved-in chests, weeping sores wrapped in gauze, extremities missing entirely, legs so thin you
      NYT  -  612 words
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      Lock icon Lucrative book deals might finance the Obamas’ post-White House life
      981 22 Literary agents and major publishers say if Barack and Michelle Obama sign post-presidency book contracts, they stand to make as much as US$20-45 million NYT Washington AFTER he is out of the White House, President Barack Obama has said he
      NYT; FILE PHOTO: NYT  -  981 words
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      Lock icon Ambitious project aims to coax oysters back to New York waters
      974 22 NYT New York TORRENTIAL rain poured down on the team of scientists and conservationists on Jamaica Bay as their small boat slowly towed about 85 cages packed with 36,000 oysters, a species that once blanketed New York Harbor but
      NYT; PHOTOS : NYT  -  974 words
  • Page 22 Miscellaneous
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      320 22 CRYPTIC CROSSWORD Across 1 The cradle of the deep? (3,3) 4 Old students better out of sight (8) 9 One stealing a pound? (6) 10 Joint vote cast in Irish parliament (8) 12 The same again and again the same as one that passed long ago (4) 13 One may
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  • EXECUTIVE MONEY
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      Lock icon Proceed with caution: Balancing risk and return
      1522 23  -  MONEY MATTERS By Michael Levin T The writer is head of asset management, Asia Pacific, Credit Suisse WE have entered an investment environment comparable to a construction zone full of potential pot holes where lights are flashing: “Proceed with caution”. While volatility and
      1,522 words
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      Lock icon Buybacks get costly for S&P 500 CEOs burning cash
      1041 24 Crux of issue is falling earnings six straight quarters of negative growth for S&P 500 firms BLOOMBERG LITTLE by little, the corporate cushion is shrinking. Pressured by a year-and-a-half of weakening profits and splurges on buybacks and dividends, the once-towering piles
      BLOOMBERG; PHOTOS: BLOOMBERG  -  1,041 words
    • Article
      Lock icon Investors of Turkey’s bonds undeterred by risks
      747 24 Turkish debt’s main draw is its yield, with 10-year notes paying out more than six times their US equivalents BLOOMBERG New York MILITARY uprising, war across the border and the threat of a credit downgrade are not deterring investors from Turkey’s bonds, with
      BLOOMBERG  -  747 words
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      30 24 Check in, then CHECK OUT EMIRATES FIRST AND BUSINESS Start your journey in one of our 38 luxury lounges worldwide. Enjoy gourmet dining with premium wines and spirits. Hello Tomorrow
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