The Business Times, 12 September 2016

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Total Pages: 36
1 36 The Business Times
  • 26 1 THE BUSINESS TIMES w w w usinesst imes.com.sg| I MONDAY SEPTEMBER 12, 2016 I S$1.20 I MC I (P) 052/08/2016 scfrl A SINGAPORE PRESS HOLDINGS PUBLICATION
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  • 35 1 ZIKA SPREAD ELEVEN new cases of local transmission of the Zika virus were confirmed by noon on Sunday, bringing the total to 329 so far, MOH and NEA announced jointly. 2
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  • 30 1 SHAKING UP TELECOMS AIRYOTTA which has thrown its hat into the ring, aspiring to become Singapore’s fourth telco has huge ambitions for the nation’s telecommunications sector. 3
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  • 27 1 NORTH-EAST ASIA JAPAN and Russia are looking to cement their relationship in order to counter China’s fast-developing power projection across and beyond the region. 5
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  • 43 1 PIPE DREAM BRITAIN’S desire to become a free-trade leader following its vote to leave the EU is seen as wishful thinking by analysts, who say that London’s hands are tied until a formal UK exit from the bloc. 8
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  • 580 1  -  But investment income is down, along with US returns in the rest of the world By Chuang Peck Ming peckming@sph.com.sg@PeckmingBT Singapore US direct investments in Singapore surged last year, although the pace of increase eased worldwide, as the latest figures released by the
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  • 944 1  -  By Choo Yun Ting yuntingc@sph.com.sg Singapore EVER wondered what happens to products that are returned to the store, whether it’s due to manufacturing defects or simply because buyers could not find a use for them? If unsold, they usually end up in landfills, and
    FILE PHOTO  -  944 words
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  • TOP STORIES
    • Article, Illustration
      46 2 NEWS Top Stories 2-8 Companies Markets 9-13 Real Estate 14-15 Views From The Top 16-17 Young Investors’ Forum 18-19 Banking Finance 20 Energy Commodities 21 Technology 22-23 Consumer 24 Govt Economy 26-31 Transport 32 Shipping Times 33-34 Dining Out 35 Life Culture 36 Crosswords 36
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    • 137 2 HSTI (Friday) 2,873.33 (-21.15) HSTI FUTURES 2,873.00 (-21.00) HSIMSCI 316.89 (-2.67) HSIMSCI FUTURES 317.00 (-2.85) STOCKS Friday Change KL COMP 1,686.44 -4.94 NIKKEI 225 16,965.76 +6.99 HANG SENG 24,099.70 +180.36 SET 1,445.28 -10.10 JAKARTA 5,281.92 -89.16 MANILA 7,581.79 -85.28 KOSPI 2,037.87 -25.86 SHENZHEN B 1,190.26 -2.40 MUMBAI 28,797.25 -248.03
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    • 868 2  -  Report finds two different sets of agreements for purchase, subsequent sale of a China firm By Joyce Hooi joyceh@sph.com.sg @JoyceHooiBT Singapore AS a boardroom tussle looms at Catalist-listed SBI Offshore (SBIO) this Friday, the offshore and marine
      868 words
    • 176 2 The Straits Times Singapore ANOTHER 11 new cases of locally transmitted Zika were confirmed by noon on Sept 11, the Ministry of Health (MOH) announced in a joint statement with the National Environment Agency. One case is linked to
      The Straits Times  -  176 words
    • 692 3  -  Backed by a single-purpose fund, the company plans to roll out Singapore’s first 4.5G Advanced Pro network By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore AIRYOTTA, a company virtually unknown until it threw its hat into the fourth telco ring early this month, has
      692 words
    • 434 3  -  By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore SINGAPORE’S investment income from the US jumped from US$853 million in 2014 to US$928 million last year, even as Singapore companies cut back on investments there. Singapore’s cumulative direct investments fell by over US$1 billion
      434 words
    • 1017 4  -  It could slip to the psychologically significant level this week and shed all the summer’s gains WALL STREET INSIGHT By Bob Curran btworld@sph.com.sg GOLDILOCKS was rudely awoken by the bears in the US stock market last week which came in the form
      PHOTO: AFP  -  1,017 words
    • 1062 5  -  Russia could also gain from investment by Japan in its underdeveloped Far East region By Anthony Rowley btworld@sph.com.sg Tokyo A NEW geopolitical calculus appears to be taking shape in Northeast and Central Asia which could change the balance of power and
      PHOTO: REUTERS  -  1,062 words
    • 682 6  -  More stringent licensing restrictions such as a tiered system for cars may reduce accidents on the road COMMENTARY By Arthur Lee arthurl@sph.com,sg THE subject of an 18-year-old youth crashing a 500+ horsepower (hp) Nissan GT-R into another car at Leisure Park Kallang has
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    • 645 7 Region’s govts expected to increase infrastructure spending to boost growth Bloomberg Madrid WITH the European Central Bank’s stimulus programme showing limited success in boosting growth, speculation is growing that the region’s governments will have to increase public spending. That’s pushing traders to bet on
      Bloomberg; PHOTO: AFP  -  645 words
    • 232 7 The Straits Times Singapore MORE than 100 of the 1,700 sheep flown in from Ireland for Monday's Hari Raya Haji celebration were found dead after arriving at the Changi Airport Cargo Terminal early on Sunday morning. The Agri-Food and Veterinary Authority,
      The Straits Times  -  232 words
    • 672 8 London’s hands are tied until a formal exit from the European Union AFP London BRITAIN’S desire to become a free trade leader following its vote to leave the EU is seen as wishful thinking by analysts, who said that London’s hands are
      AFP; PHOTO: REUTERS  -  672 words
    • 579 8 Reuters New York AMERICANS commemorated the 15th anniversary of the Sept 11, 2001, attacks on Sunday with the recital of the names of the dead, tolling church bells and a tribute in lights at the site where New York City’s massive
      Reuters; PHOTO: AFP  -  579 words
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  • COMPANIES & MARKETS
    • 933 9  -  Melvin Ang talks about expansion plans for his Catalist-listed entertainment outfit. TOPLINE By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT AT two points and midway into his 20-year career when he worked for at least three different media houses in Singapore and Malaysia, Melvin ng told himself:
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    • 967 10  -  Members need the right motivation, be guided by shared values for the company’s benefit. BOARDROOM MATTERS By Philip Forrest ~The writer is a member of the Governing Council of the Singapore Institute of Directors. COMPANIES today have to adhere to a list of governance and
      PHOTO: FREEIMAGES  -  967 words
    • 1582 11  -  INSIDE MARKETS By Robert Halili ~The writer is managing director, Asia Insider Limited THE buying remained high while the selling among directors fell based on filings on the Singapore Exchange from Sept 5 to 9. Buyers outweighed sellers with 21 companies
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    • 193 12 Sep-9 Price Net change change Last Trade Agricultural Sep-9 CBOT Soybeans (US cents/bu) 997.25 5.25 0.53% 14/09/2016 CBOT Soybean Oil (US cents/lb) 33.03 0.09 0.27% 14/09/2016 CBOT Wheat (US cents/bu) 376.00 -1.00 -0.27% 14/09/2016 Sep-9 LIFFE Cocoa (£/tonne) 2189.00 -85.00 -3.74% 15/09/2016 LIFFE Coffee (US$/tonne) 1903.00 -19.00 -0.99%
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    • 57 12 Sep 9 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 16 2873.0 2898.0 2900.0 2873.0 161 2414 Oct 16 2720.0 2724.0 2738.0 2707.0 1573 ***** Nov 16 2629.0 2640.0 2656.0 2620.0 ***** ***** Dec 16 2582.0 2592.0
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    • 67 12 Sep 9 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****A 4.000 01-Sep-18 106.28 5-Year NX*****X 2.250 01-Jun-21 104.64 105.00 104.70 10-Year NX*****F 2.125 01-Jun-26 103.46 103.90 103.84 15-Year NZ*****F 2.875 01-Sep-30 110.23 110.30 110.30 20-Year NZ*****X 2.250 01-Aug-36 102.39 103.00 102.45
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    • 155 12 Sep 9 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0308 1.0317 0.7616 0.7620 Canadian dollar 1.0454 1.0461 0.7726 0.7724 Euro 1.5255 1.5266 1.1271 1.1275 NZ dollar 0.9974 0.9983 0.7369 0.7373 Sterling pound 1.7996 1.8004 1.3296 1.3297
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    • 5 12 Source: Bloomberg
      Source: Bloomberg  -  5 words
    • 209 12 Most active Sep 9 Prem Expiry Last Vol Conv Exer Disc Gear-Mths Company Sale +or-('000) Ratio Price ing Left DBS MB eCW*****1 12.9 -0.8 6498 0.1 1550 5 UOB MB eCW*****1 10.7 -0.2 3994 0.1 1880 5 OCBC Bk MB eCW*****8 4.4 -0.3 2843 0.1 915
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    • 377 12 In local curr In S$ In US$ dy yr dy yr dy yr Sep 9 Index Change Change Change Change Change Change World Preliminary 1303.4 -1.1 2.0 -0.5 -0.9 -1.4 3.5 EAFE Preliminary 976.9 -0.7 -3.6 -0.6 -4.7 -1.5 -0.5 Europe Preliminary 1398.4 -1.1 -1.0
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    • Article, Illustration
      10 12 Source: Bloomberg Source: Bloomberg Source: Bloomberg Source: Bloomberg
      Source: Bloomberg  -  10 words




  • REAL ESTATE
    • 1092 13 Face-to-face meeting with a notary public becoming passé in an era of FaceTime, Skype, live-streamed social media Reuters New York AS Chuck DeBonis was wrapping up his stint as a civilian paramedic at a military base in Kuwait earlier
      Reuters; PHOTO: BLOOMBERG  -  1,092 words
    • 828 14 Industry figures express concern that no administration can sign off on new projects Reuters Madrid SPAIN’S convalescing construction sector was hoping to move on from a national economic crisis which at its height saw abandoned building sites and bankrupt infrastructure projects littering the landscape.
      Reuters; PHOTO: REUTERS  -  828 words
    • 457 14 Thomson Reuters Foundation London THE British government has abandoned plans to privatise the UK Land Registry that has recorded ownership of property in the country for more than 150 years after a change of leadership at the ministry in charge, according to
      Thomson Reuters Foundation  -  457 words
    • 367 15 Bloomberg New York BY the time Bob Williamson bought a 5,000-acre Florida plantation in 2008, he’d been a meth addict, a diagnosed sociopath (by the US military, no less), an armed bank robber, and, for a spell, a prisoner in
      Bloomberg  -  367 words
    • 862 15 Michael Shvo case is latest by state authorities to scrutinise art dealers and collectors Bloomberg New York FOR the last six years or so, real estate developer Michael Shvo allegedly went shopping for luxury goods that would make an oligarch swoon: fine
      Bloomberg; PHOTO: BLOOMBERG  -  862 words



  • VIEWS FROM THE TOP
    • 2903 16 this week’s topic: Which books have most inspired you as a business leader? John Bittleston Founder Chair Terrific Mentors International Pte Ltd CREATIVITY is the heart of successful business so top of my list is Arthur Koestler’s The Act of Creation. Described as “a study of
      REUTERS  -  2,903 words


  • BT-CITIBANK YOUNG INVESTORS' FORUM
    • 1443 18  -  Gains do not outweigh opportunity cost; contributing cash to the SA a better option to save for retirement MONDAY MULTIPLE Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Correspondent haoxiang@sph.com.sg @HaoxiangCaiBT RECENTLY, the media has highlighted the Central Provident Fund (CPF) as a
      FILE PHOTO  -  1,443 words
    • 713 19  -  The key is to not let a career break derail your financial plan, such as saving for retirement and healthcare coverage By Bobbi Rebell Reuters UNTIL a month ago, Andrew Lampert was moving up the career ladder in New York City as a
      Reuters; PHOTO: REUTERS  -  713 words

  • Page 19 Advertisements
    • 105 19 GET STARTED NOW Be a young investor do you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to
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    • 8 19 This series is brought to you by Cltl
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  • BANKING & FINANCE
    • 599 20 Strict eligibility conditions, capped salaries and risk of potential penalties are turnoffs WP Washington AS if mountains of bad loans and falling shares weren’t enough, Greek banks are having to contend with another headache: finding qualified people for their corporate suites. The National
      WP; PHOTO: BLOOMBERG  -  599 words
    • 698 20 Bloomberg New York EVEN at 91, former American International Group Inc chairman Maurice “Hank” Greenberg is not ready to quit fighting. Greenberg scrapped with regulators and the Internal Revenue Service and beat the federal government in what some called a no-chance
      Bloomberg; PHOTO: BLOOMBERG  -  698 words

  • ENERGY & COMMODITIES
    • 687 21 Storms and droughts have wiped out entire farms WP Washington AT the worst possible time, the Caribbean is running short of one of its most emblematic products. Rich-world consumers have never been keener on the coconut. Starbucks wants the tropical fruit’s milk for
      WP; PHOTO: BLOOMBERG  -  687 words
    • 693 21 Bloomberg Washington/North Dakota THE Obama administration stepped into a dispute last Friday over a planned oil pipeline in North Dakota that has angered Native Americans, appealing for calm while blocking construction on federal land and asking the company behind the project
      Bloomberg  -  693 words

  • TECHNOLOGY
    • 855 22 Founder calls blast most perplexing failure in 14 years Bloomberg Hong Kong SpaceX’s billionaire founder Elon Musk called the Falcon 9 explosion its most perplexing failure in 14 years, deepening the mystery surrounding the loss of the satellite-bearing rocket on its launchpad last
      Bloomberg; PHOTO: REUTERS  -  855 words
    • 617 22 Bloomberg San Francisco YAHOO Japan Corp proposed a “merger of equals” with Yahoo Inc but was rebuffed during a months-long process that eventually led to Verizon Communications Inc acquiring the US Internet company’s core assets for more than US$4.8 billion, according
      Bloomberg  -  617 words
    • 1557 23 Bogus calls from infected mobile phones could clog call-centre queues WP Washington A GROUP of researchers say they’ve found a way to effectively disable the 911 emergency system across an entire state for an extended period of time by simply launching
      WP; PHOTO: FREEIMAGES  -  1,557 words


  • CONSUMER
    • 916 24 Blocking California tax can deter anti-tobacco advocates from pursuing similar changes Bloomberg San Francisco REYNOLDS American Inc, Altria Group Inc and other tobacco companies are steering millions of dollars towards defeating a US$2 cigarette tax increase in California, a high-stakes effort and the
      Bloomberg; PHOTO: BLOOMBERG  -  916 words
    • 421 24 Reuters London BRITAIN’S Serious Fraud Office has charged three former senior Tesco executives with fraud in its investigation into accounting practices at the country’s biggest supermarket chain. A £250 million (S$450.8 million) overstatement of Tesco’s first-half profits in August 2014, due
      Reuters  -  421 words

  • Page 25 Advertisements
    • 513 25 FORAGE INTO THE WORLD OF DIGITAL Who should attend: Business Owners, Entrepreneurs, Senior and Middle Management, PMETs, Marketing and Sales Professionals EX C L US IVE H O T GAINING AN INSIGHT INTO DIGITAL NEWSROOM FOR THAT BETTER STORY PITCH S E P 1 6 22THURSDAY SPH News Centre 1.30pm
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  • GOVERNMENT & ECONOMY
    • 761 26 New Yalu River Bridge, which was supposed to bring investment to N Korea, lies unfinished and abandoned Reuters Dandong, China TOWERING above the murky waters, the New Yalu River Bridge was supposed to symbolise a new era in relations between China and North Korea,
      Reuters; PHOTO: REUTERS  -  761 words
    • 431 26 WP Washington THE man who tried to assassinate President Ronald Reagan 35 years ago is going home this time it seems, for good. John Hinckley Jr was released from St Elizabeths Hospital on Saturday morning, the culmination of his
      WP; PHOTO: REUTERS  -  431 words
    • 861 27 EU president wants to be seen as listening to ordinary voters Reuters Brussels THE European Commission has withdrawn proposals that would limit next year’s abolition of mobile phone roaming charges after criticism that the rules should do more to favour telecom firms’ customers.
      Reuters; PHOTO: REUTERS  -  861 words
    • 414 27 Reuters Brussels THE European Union is set to extend some security rules currently only applicable to telecom operators to web services such as WhatsApp, Skype and Apple Inc’s FaceTime, according to a draft proposal seen by Reuters. The European Commission, the
      Reuters  -  414 words
    • 879 28 At a time of negative interest rates, firms are buying insurance to protect their cash hoards WP Washington IT is a sign that the world is getting used to negative interest rates when what once seemed bizarre starts looking like the norm.
      WP  -  879 words
    • 480 28 Reuters Beijing WHEN Blackstone Group co-founder and chief executive Stephen Schwarzman was asked by the president of China’s elite Tsinghua University to design a major initiative for the school, the private equity billionaire decided to aim high. His target, Mr Schwarzman told Reuters,
      Reuters; PHOTO: REUTERS  -  480 words
    • 896 29 Requirement seen as a straightjacket on govts wanting to spend their way out of sluggishness AFP Paris NOBODY yet knows the winner of France’s presidential election next year, but the smart money is on one loser: the 3-per cent cap on government deficits
      AFP; PHOTO: BLOOMBERG  -  896 words
    • 332 29 Reuters Berlin THE leader of Germany’s Christian Social Union told Chancellor Angela Merkel on Friday that he would not join forces with her Christian Democrats the CSU’s coalition allies at a key party congress unless she changed her open-door refugee policy.
      Reuters  -  332 words
    • 599 30 Brussels has tightened controls, adopted stricter rules in fight against tax dodging Reuters Bratislava MULTINATIONALS should refrain from tax avoidance practices and pay their fair share of taxes, the head of eurozone finance ministers said on Saturday, in a new endorsement
      Reuters; PHOTO: BLOOMBERG  -  599 words
    • 335 30 AFP Grzechotki, Poland RUSSIAN shopper Inna swiped her hand in a dismissive gesture as she waited in her car for a Polish border guard to check the visa stamped in her passport. “It’s all politics,” insisted the feisty middle-aged Kaliningrader
      AFP  -  335 words
    • 1342 31 Many prominent US companies have set up operations overseas to lower their tax bills WP Washington MEDICAL device maker Medtronic found itself in an enviable position in March when one of its executives joined a US trade mission to Peru, where there is
      WP; PHOTO: BLOOMBERG  -  1,342 words






  • TRANSPORT
    • 1161 32 Pittsburgh will be the world’s first city to let passengers hail autonomous vehicles NYTimes Pittsburgh ANY day now, Uber will introduce a fleet of self-driving cars in Pittsburgh, making this former steel town the world’s first city to let passengers hail autonomous
      NYTimes; PHOTOS: NYTIMES  -  1,161 words

  • Page 33 Advertisements
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    • 349 33 C a i l a n ~E n n o r e J e d d a h B r i s b a n e Shanghai Chittagong Ho Chi Minh H o J e b e n g NYK RORO (ASIA) PTE. LTD. K o n g REGULAR SERVICE
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  • Page 34 Advertisements
    • 893 34 Tel: (65) 6470 9100 Fax: (65) 6235 3623 Email: 2wsinenq@2wglobal.com website: http://www.2wglobal.com WALLENIUS WILHELMSEN LOGISTICS AUSTRALIA NEW ZEALAND TO ASIA VESSEL VOY AKL BNE PKL MEL FRE SIN TAMERLANE FF632 13/09 17/09 19/09 21/09 27/09 05/10 TYSLA FF633 20/09 24/09 27/09 30/09 05/10 12/10 ASIA TO NORTH AMERICA VESSEL VOY
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    • 324 34 BINTANG MAS SHIPPING PTE LTD 39 Neil Road Singapore *****3 Tel: *****988 Fax: *****564 CR No.: **********0W Breakbulk Container Service to Sarawak, Sabah Brunei Vessel Voyage ETA SIN Muara Labuan K. Kinabalu Eponyma 1617E 15.09.16 20.09.16 21.09.16 23.09.16 Eline Enterprise 1617E 21.09.16 26.09.16 27.09.16 Eponyma 1618E 28.09.16 03.10.16 04.10.16 06.10.16
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  • DINING OUT
    • 801 35  -  SPRMRKT Kitchen Bar tries to be too many things in its new Robertson Quay premises. By Jaime Ee By Jaime Ee jaime@sph.com.sg @JaimeEeBT NEW RESTAURANT SPRMRKT Kitchen Bar The Singapore Tyler Print Institute #02-01 41 Robertson Quay Z: 9736-4170 Open for lunch and
      PHOTOS : JAIME EE  -  801 words

  • LIFE & CULTURE
    • 610 36 She beats hard-hitting 10th-seeded Pliskova 6-3, 4-6, 6-4 to win a second Grand Slam crown this season AFP New York ANGELIQUE Kerber won the US Open last Saturday, marking her rise to world number one with a gritty victory over Karolina Pliskova to
      AFP; PHOTO: NYTIMES  -  610 words
    • 394 36 WP Tokyo ON a weekday morning in July, Takatoshi Miyauchi and two other men were chatting at a Tokyo restaurant. “My wife doesn’t wash the dishes, but for some reason she does clean the sink,” one of them said, while another complained: “My
      WP  -  394 words
  • Page 36 Miscellaneous
    • 383 36 CRYPTIC CROSSWORD Across 1 Old-style rule, prior to anything being written down? (9) 9 Part of SA gets sun and zero water zero! (6) 10 In Cyprus a post’s secured a small vessel (9) 11 Accident when little Philip’s swallowed Romanian money (4-2) 12 List minister of religion as being
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