The Business Times, 21 March 2014

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Total Pages: 32
1 32 The Business Times
  • 25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Friday, March 21, 2014
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  • 959 1  -  Analysts warn of more unpredictability after Fed’s latest policy statement By KENNETH LIM By kenlim@sph.com.sg [SINGAPORE] Financial markets around the world retreated yesterday as they digested subtle changes to the US Federal Reserve’s latest policy statement, while analysts warned of greater unpredictability and
    Source: US Federal Reserve  -  959 words
  • MARKETS DIGEST
    • 65 1 HST INDEX 3,057.20 (-23.55) HST INDEX FUTURES 3,057.00 (-24.00) HSIMSCI 344.71 (-2.65) HSIMSCI FUTURES 343.60 (-3.90) US$ S$ US$ (S$ per US$) 1.274 (US$/S$ per 1.655 2.109 EURO (US$/S$/€ 1.383 1.763 Foreign currency per US$ S$ YEN 102.40 80.40 RM 3.296 2.587 HK$ 7.764 6.093 BAHT 32.38 25.41 RUPIAH
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    • 48 1 Thursday Change KL COMP 1,818.17 +0.73 NIKKEI 225 14,224.23 -238.29 HANG SENG 21,182.16 -386.53 SET INDEX 1,361.47 -2.80 JAKARTA COMP 4,698.97 -122.48 MANILA COMP 6,417.35 -45.14 SEOUL COMP 1,919.52 -18.16 SHENZHEN B 820.79 -9.95 MUMBAI IND 21,740.09 -92.77 12noon EDT Change DOW 16,283.85 +61.68 NASDAQ 4,315.45 +7.84
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    • 23 1 SINGAPORE 5.35 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA JAPAN TAIWAN KOREA JAPAN 1.475 KOREA 9.33 SWITZERLAND 0.50 INDIA 3.25 Source: Bloomberg
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  • 887 1  -  By MICHELLE QUAH michquah@sph.com.sg [SINGAPORE] A growing legal service and the need for more specialist and expert legal skills are prompting a sea change in the Singapore Legal Service (SLS). In April, the Republic’s Legal Service Officers (LSOs) will have two separate career
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  • Page 1 Advertisements
    • 92 1 PROPERTY SRX launches pricing help for resale flats PAGE 18 EXEC LIFESTYLE Young blood, old trades PAGE 26 HOCK LOCK SIEW ‘Trade With Caution’: exercise more care PAGE 7 COMMENTARY Dangerous games big powers play PAGE 17 Read Boardroom Matters, a series of articles from the Singapore Institute of Directors
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  • TOP STORIES
    • 454 2 Markets cower under shadow of hawkish Fed FINANCIAL markets around the world retreated yesterday as they digested subtle changes to the US Federal Reserve’s latest policy statement, while analysts warned of greater unpredictability and the possibility of a more hawkish stance in the coming months. FRONT PAGE Two
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    • 790 2  -  ADB warns of likely contagion effects from new Fed taper BV ANTHONY ROWLEY in Tokyo CONCERNS were voiced yesterday about the fallout on bond markets from the US Federal Reserve’s decision to further “taper” its securities purchases, as the Asian Development Bank (ADB)
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    • 944 2  - Sing falls after Fed says rate hikes may start in ’15 Further weakness expected; Sibor seen rising to 0.78% from 0.402% now By SIOW LI SEN By lisen@sph.com.sg [SINGAPORE] The Singapore dollar fell almost one per cent yesterday, just hours after US Federal Reserve Chair Janet Yellen announced unexpectedly that
      Source: Bloomberg  -  944 words
    • 756 2 Reuters [WASHINGTON] The US Federal Reserve will probably end its massive bond-buying programme this autumn, and could start raising interest rates around six months later, Fed chair Janet Yellen said on Wednesday, in a comment which sent stocks and bonds tumbling. Ms
      Reuters; PHOTO: REUTERS  -  756 words
    • 1130 3  -  Chancellor targets baby-boomers, overhauls outdated pension system By NEIL BEHRMANN in London BRITISH Chancellor of the Exchequer George Osborne has pressed the starter button for the May 2015 General Election with a shrewd baby-boomer Budget. Knowing fully well that, historically, older Britons
      PHOTO: BLOOMBERG  -  1,130 words
    • 518 3  -  BY RONNIE LIM ronnie@sph.com.sg [SINGAPORE] Petrochemical margins are likely to remain under pressure and could be volatile this year, warned Petrochemical Corporation of Singapore (PCS) managing director Akira Yonemura. In the face of challenges such as the start-up of more new Gulf plants, which will
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  • Page 2 Advertisements
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  • Page 3 Advertisements
    • 136 3 MM qO^ i c LQUn Received the "User's Choice "award at World Communication Awards 2013. Recognised as "Wholesale Operator of The Year' at Asia Communication Awards 2013. telecomasia AWARDS 2013 Recognised as "The Best Asian Telecom Carrier" and "Best Cloud-Based Service" at Telecom Asia Awards 2013. SEAMLESS CLOUD FOR THE
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  • COMPANY NEWS
    • 1072 4  -  Couldn’t the Reit have taken another route to avoid dilution for minorities? COMMENTARY CAI HAOXIANG haoxiang@sph.com.sg Correspondent Minority investors in Suntec Reit experienced that sinking feeling when they woke up on Wednesday to the news that the real estate investment trust had placed out
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    • 521 5  -  Way paved for strategic alliance with stake buyer Cebu Pacific By NISHA RAMCHANDANI nishar@sph.com.sg BUDGET carrier Tiger Airways, which yesterday completed the divestment of a 40 per cent stake in Tigerair Philippines to Cebu Pacific, will leverage on Cebu Pacific’s network in
      FILE PHOTO  -  521 words
    • 395 5  -  By VIVIEN SHIAO vshiao@sph.com.sg SINGAPORE Exchange enjoyed a 70 per cent surge last year in the volume of over-the-counter and ex-change-traded commodity derivatives listed on the local bourse, outpacing the global commodity derivatives growth of 23 per cent. A report by the exchange showed
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    • 669 5  -  By JAMIE LEE leejamie@sph.com.sg SINGAPORE banks are expected to issue more Basel III compliant securities, with about 25 per cent of their Basel II securities callable, or reaching maturity, this year, Moody’s Investors Services said in a research report yesterday. For
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    • 848 7  -  HOCK LOCK SIEW By R SIVANITHY AS with many things that are new, Singapore Exchange’s (SGX’s) latest regulatory enhancement known as the Trade With Caution (TWC) notice is encountering its fair share of teething problems, leading to confusion and criticism from listed companies and
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    • 1017 7  -  Compiled by CAI HAOXIANG Yangzijiang (YZJ) March 20 close: $1.065 DMG PARTNERS RESEARCH, March 20 YZJ has been accredited a “High/New Technology Enterprise” (HNTE), which will reduce its tax rate from the prevailing 25 per cent corporate rate to a preferential rate of 15 per cent. We had
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    • 451 7  -  By RAPHAEL LIM raphlim@sph.com.sg SIM Lian Group will launch the first phase of its integrated development, Vision Exchange, for sale tomorrow. Located in Jurong East, the 99-year leasehold commercial property will house a 25-storey office tower with two levels of food beverage (F&B) space
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    • COMPANY BRIEFS
      • 102 7 CCM Group said that its wholly owned subsidiary, CCM Industrial Pte Ltd, had on Monday received a notice of termination of a Shenton Way contract. The notice, from 70 Shenton Pte Ltd, was on the grounds of alleged breaches of the contract. CCM Group said
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      • 100 7 YOMA Strategic Holdings has set up two new subsidiaries in Myanmar, in relation to its luxury tourism and automobile businesses. The first, Chindwin Bagan, was set up via Yoma’s 70 per cent owned unit, Chindwin Holdings (Chindwin Singapore), with an issued and
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      • 80 7 TRITECH Group said yesterday that its wholly owned subsidiary, Anhui Clean Environment Biotechnology Co Ltd, was awarded a 24.36 million yuan (S$5 million) waste water treatment contract by HuaRong Xuehua Brewery on Feb 28. Tritech’s unit is to provide the design of the waste
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      • 54 7 VALLIANZ Holdings has established a $500 million multi-currency debt issuance programme. Net proceeds from the issue of securities will be used for general corporate purposes including refinancing of borrowings, financing investments and capital expenditure requirements as well as for general working capital of the
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  • Page 4 Advertisements
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    • 19 4 Choose from various club memberships orsell yours in CLASS 66 To advertise, call the Print Classified Hotline: 1800-289 9988
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  • Page 5 Advertisements
    • 181 5 I"* Sunday Champagne Brunch rets an Edge Discover a brand new four-hour Veuve Clicquot Champagne Brunch at Edge on Sundays. With seven live food theatres, brunch aficionados can expect a la minute highlights galore, ranging from grilled omi wagyu beef, fines de claires oysters, Boston lobster, roast suckling pig, a
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  • SINGAPORE MARKETS
    • 678 6  -  ST Index dragged down by convergence of adverse factors including China slowdown worries and Ukraine unrest STOCKS R SIVANITHY sivan@sph.com.sg Senior Correspondent THE spectre of rising interest rates although these are not expected until some time in 2015 added to the market’s woes
      Source: Bloomberg  -  678 words
    • 75 6 Mar 20 VALUE CLOSE BT OB/OS -326.00-157.00 BT CADI -*****.00-111.00 BT 10-day MA -*****.00 -33.00 FTSE ST Mid Cap 710.35 -4.76 FTSE ST Small Cap 533.98 -2.24 FTSE ST All Share 745.24 -5.41 FTSE ST China Top 195.32 -1.23 FTSE ST China 220.12 -2.13 FTSE ST Catalist
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    • 186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 1 11 2 0 0 0 1 11 2 Manufacturing 34 46 42 4 7 7 38 53 49 Commerce 20 20 16 1 2 6 21 22 22 Tpt/Stor/Comms 12 16 9
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    • 121 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 17,953 17,953 69,128 69,128 Manufacturing 293,389 150,929 444,318 123,539 3,876 127,415 Commerce 260,810 104,622 365,432 121,282 10,627 131,909 Tpt/Stor/Comms 75,674 2,980 78,654 136,731 290 137,022 Finance 38,628 107 38,735 215,399 34 215,433 Construction 18,426 54,301
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    • 115 6 Stock name Close Change CapMallsAsia 1.685 -0.035 CapitaLand 2.720 CapitaMall 1.865 -0.025 CityDev 9.140 -0.040 ComfortDelGro 1.915 -0.010 DBS Grp 15.660 -0.090 GLP 2.580 -0.060 Genting SP 1.305 -0.010 Golden Agri 0.575 -0.015 HK Land 6.170 -0.070 HPH Trust US$ 0.620 -0.005 JMH 57.700 -1.200 JSH
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    • 448 6 CURRENCIES AFP [TOKYO] The US dollar held steady in Asia yesterday, after surging in New York as Federal Reserve chief Janet Yellen hinted that interest rates could rise early next year, sooner than expected. The greenback fetched 102.30 yen in Tokyo afternoon
      AFP; PHOTO: BLOOMBERG  -  448 words
    • 55 6 VOLUME HanKore 201,854,000 Equation 118,371,000 Digiland 77,176,000 Ocean Sky 75,637,000 Vallianz Hldgs 53,463,000 Federal Int 51,983,000 LifeBrandz 46,130,000 Charisma Energy 42,266,000 WE Hldgs 34,081,000 Golden Agri 31,550,000 VALUE($) DBS Grp 92,353,130 SingTel 72,330,050 UOB 70,319,246 GLP 54,244,380 CapMallsAsia 37,021,972 OCBC Bk 35,035,280 CapitaLand 34,135,700 Olam 32,664,720 Keppel
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    • 112 6 BY CENTS CLOSE UP DBXT S&P Short 10US$ 2556 31.9 1.0 SIA 1023 8.0 0.8 IS ASIA BND 100S$D 1296 7.0 0.5 CN7000MBePW*****7 19.8 6.8 52.3 IS ASIA HYG100S$D 1343 6.0 0.4 NSL 201 5.0 2.6 DBXT AUDCS 5AU$ ***** 4.6 0.0 IS LC BND 100S$D 1201 4.0 0.3
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    • 128 6 BY CENTS CLOSE DOWN Lyxor Indonesia10US$ 8570 -559.2 -4.9 DBXT iBoxxSvEu 5US$ ***** -392.3 -1.1 DBXT USDIGInfl 5US$ ***** -314.6 -0.9 Lyxor ThaiSET 10US$ ***** -303.2 -1.9 SPDRS S&P 500 10US$ ***** -245.8 -1.0 DBXT AUDCS 5US$ ***** -229.3 -0.9 GLD 10US$ ***** -182.2 -1.1 DBXT EONIA 5US$ *****
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    • 5 6 DAILY
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  • Page 6 Advertisements
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  • Page 7 Advertisements
    • 26 7 Get rid of the new neighbours 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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    • 703 7 NutritionPark.com Largest Range! Longest Warranty! ZANFIT VWALK VI 8 Great for senior citizens to do brisk walking. 3 workout programs. Max 6km/h. Foldable. 2 years warranty. ZANFIT VTREAD V21 15 goal-specific programs. 1 km/h to 12km/h. Heart rate monitor. LCD Display. Foldable. 1.5hp motor. 2 years warranty. ■*5 ZANFIT VTREAD
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  • SINGAPORE NEWS
    • 844 8  -  URA get consultants to submit ideas on improving the area By SHEENA TAN tsheena@sph.com.sg VISITORS to Boat Quay will be better able to enjoy views of the Singapore River and take in the historical shophouses on its banks after a makeover of the outdoor
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    • 470 8 IR wants to boost room stock by 60% as it’s facing full occupancy Bloomberg [SINGAPORE] Las Vegas Sands has asked the Singapore authorities for more land to increase rooms at its Marina Bay Sands (MBS) by about 60 per cent after facing
      Bloomberg  -  470 words
    • 272 8  -  By LYNETTE KHOO lynkhoo@sph.com.sg THE Singapore government will be seconding a senior official to spearhead the work of the Sino-Singa-pore Tianjin Eco-City Investment and Development Co (SSTEC) in the physical planning and development of the bilateral eco-city project in Tianjin. Kok Poh June
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    • 308 8  -  This brings number of one-stop centres dedicated to industry assistance schemes to 15 By MALMINDERJIT SINGH msingh@sph.com.sg SME Centres have grown to play a crucial role in the government’s support to small and medium-sized enterprises (SMEs) as they
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    • 393 8  -  Apex-Avalon eyes upper-mid tier firms needing advice By MALMINDERJIT SINGH msingh@sph.com.sg ONE of India’s largest management consultancies, Avalon Consulting, has set up shop here. In its first foray outside India, it has chosen to team up with an experienced hand in breaking
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    • 428 8  -  MOM also issues workplace guidelines for haze situations By RAPHAEL LIM By raphlim@sph.com.sg SINGAPORE’S new air-qual-ity reporting system, which is to include a count of the level of fine hazardous particles known as PM2.5, will be used from April 1 a month
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    • 370 8  -  He stresses the need to balance it with affordability to curb over-consumption By GOH KANG SHIONG gohkangs@sph.com.sg EVEN as Singapore enhances its healthcare financing system, it must embrace the challenge of ensuring its sustainability, said Health Minister Gan Kim Yong. Speaking at The
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  • MALAYSIA/INDONESIA
    • 528 9  -  Bank Negara chief attributes position to reforms after Asian and global crises BY PAULINE NG in Kuala Lumpur MALAYSIA is well prepared to weather a global financial meltdown as its economic fundamentals and surveillance systems have been reinforced considerably since the Asian
      PHOTO: BLOOMBERG  -  528 words
    • 357 9 Japan trading house also agrees to pay US$88m over the US graft charges Reuters [NEW YORK] Marubeni Corp has agreed to pay US$88 million and plead guilty to charges by US prosecutors that the Japanese trading company paid high-ranking government officials in Indonesia
      Reuters  -  357 words
  • Page 9 Advertisements
    • 2817 9 mats notices 1 Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg notices VARD a Fincantieri company VARD HOLDINGS LIMITED (Company Registration No.*****2504K) (Incorporated in Singapore with limited liability) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Vard Holdings Limited (the "Company") will be held at
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  • GREATER CHINA
    • 357 10 Reuters [SHANGHAI] Two Chinese property developers said they have received regulatory approvals to make private placements of shares, paving the way for more real estate firms to raise funds after a near four-year ban by authorities on real estate companies from seeking
      Reuters  -  357 words
    • 982 10 Fund management platform offering 6% returns, banks paying only 0.36% IFR [SINGAPORE] Yu E Bao, a fund management platform under Chinese e-commerce group Alibaba, is hurting the bottom line of the country’s banks as they scramble to offer competing products, analysts said.
      IFR  -  982 words
  • Page 10 Advertisements
    • 1347 10 WAT3 NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices l.f CAMBRIDGE 1111 INDUSTRIAL TRUST (Constituted in the Republic of Singapore pursuant to a trust deed dated 31 March 2006 (as amended)) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 5th Annual General Meeting (“AGM") of Cambridge Industrial Trust
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    • 32 10 V PRESENTING SINGAPOREANS' TOP 10 ■Qj.1 DAY ■■NATIONS! it ’ll as Os* a' tv I Check out travelllliis from Dynasty Travel today in The Straits Times CATS Classified. IT• SELL FIND IT
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  • Page 11 Advertisements
    • 5155 11 WAT3 NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices Cap/taland CAPITALAND LIMITED (Regn. No.: *****0036N) (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting ("AGM") of CapitaLand Limited (the "Company") will be held at The Star Theatre, Level 5, The
      5,155 words
    • 188 11 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SV LINK (S) PTE. LTD. Company Regn No *****2490M (In Members’ Voluntary Liquidation) NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50, that a Final General Meeting of the members of
      188 words

  • WORLD
    • 636 12 3 in 5 polled see revenue returning to year-earlier levels within 9 months Reuters [TOKYO] Large Japanese firms are growing more confident about weathering the impact of an imminent sales tax increase and they expect further profit rises even after a bumper
      Reuters; PHOTO: REUTERS  -  636 words
    • 560 12 Bloomberg [TOKYO] Over coffee and cake in a rural cafe in Kochi prefecture, Hideyuki Tanaka, 40, plucked up the courage to speak with Eri, 14 years his junior. A pianist provided the ambience for the afternoon gathering of 18 singles, ar- ranged by local government
      Bloomberg  -  560 words
    • 391 12 Package seen as key to paying for snowballing health, social welfare costs AFP [TOKYO] Japan yesterday passed its biggest-ever budget, a 95.88 trillion yen (S$1.2 trillion) spending package aimed at propping up growth as consumers brace themselves for the country’s first sales tax hike
      AFP  -  391 words
    • 550 14 New system is now expected to go faster, help minimise market turmoil AFP [BRUSSELS] European Union (EU) member states and European Parliament negotiators reached an accord yesterday on a new regulatory system designed to prevent a failing bank from wrecking the economy.
      AFP  -  550 words
    • 810 14 US, Aussie and NZ planes scour area; FBI joins M’sia probe MISSING MAS FLIGHT Reuters WP [KUALA LUMPUR] Aircraft and ships ploughed through dire weather yesterday in search of objects floating in remote seas off Australia that Malaysia’s government called
      Reuters; WP; PHOTO: REUTERS  -  810 words
    • 319 14 LATEST US DATA Reuters [WASHINGTON] US home resales dropped slightly in February to a 19-month low as cold weather and a shortage of homes for sale continued to sideline potential buyers. The National Association of Realtors said yesterday that home sales dropped 0.4
      Reuters  -  319 words
    • 651 14 Trade curbs may lead to self-inflicted damage Bloomberg [BRUSSELS] European Union (EU) leaders are set to spar over punishing Russia for seizing Crimea after preparatory meetings between EU government officials failed to reach a consensus. Beset by East-West divisions and concerns that trade
      Bloomberg  -  651 words
    • 511 15 Roughly 80 fledgling firms’ focus is on financial technology NYT [LONDON] The marbled floors, luxury stores and corporate skyscrapers of London’s Canary Wharf financial district aren’t the typical surroundings for high-growing technology startups. Yet in the heart of the British capital’s banking establishment,
      NYT; PHOTO: REUTERS  -  511 words
  • Page 12 Advertisements
    • 392 12 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF GOLDIN HOLDINGS PTE. LTD. Co. Reg. No. *****7734G (IN CREDITORS’ VOLUNTARY LIQUIDATION) Extract of the minutes at the Extraordinary General Meeting of members of Goldin Holdings Pte. Ltd. convened and held at 20 Cecil Street, #12-02
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  • Page 13 Advertisements
    • 4125 13 katc notices 1 Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF ADMIRALTY HYDROGRAPHIC ASIA PACIFIC PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) (REGISTRATION NO. *****2755Z) NOTICE OF MEMBERS’ VOLUNTARY LIQUIDATION The following resolutions were unanimously resolved at the Extraordinary
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  • Page 14 Advertisements
    • 41 14 Buying a home overseas? Check out the new Foreign Properties section in The Straits Times Classified tomorrow for tips on how to get loans to fund such purchases. P v jSE m IM'' —v n to. Jr -a M ElrV H
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  • Page 15 Advertisements
    • 3355 15 beats notices Toll free 1800-289-8822 Email notices@sph.com.sg www.cats.com.sg/notices NOTICE OF THE 2014 AGM JL CHINA XLX FERTILISER LTD. (Incorporated in Singapore with limited liability) (Company Registration No. *****0384G) Singapore Stock Code: B9R Hong Kong Stock Code: 1866 NOTICE IS HEREBY GIVEN that the Eighth Annual General Meeting (the “Meeting”) of
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  • EDITORIAL & OPINION
    • 506 16 EDITORIAL THAILAND’S lifting of the state of emergency in Bangkok and its surrounding areas two days ago does not signal the end of the political stalemate in the capital but offers a glimmer of hope to businesses and foreign investors that a
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    • 723 16  -  REUTERS BREAKINGVIEWS THE BOTTOM LINE By JOHN FOLEY Reuters CHINA’S debts are troubling and not just because they’re alarmingly big. An equally worrying threat to the country’s prosperity is the complexity of those debts. That’s the trouble with China’s lengthening “credit chains”.
      Reuters  -  723 words
    • 1188 16  -  Aim is to make their corporate donors more confident so as to increase donations By THERESA GOH The writer is president, Centre for Non-Profit Leadership FOR an idea of where funding needs and challenges are greatest in Singapore’s charity sector, look no further
      ST FILE PHOTO  -  1,188 words
    • 1023 17  -  Crimea, not unlike Senkaku Islands, demonstrates the kind of geostrategic challenges US could face in coming years LEON HADAR Washington Correspondent RUSSIA’S decision to annex the Crimean peninsula after residents in that territory voted in a referendum to secede from Ukraine has worsened the relationship
      PHOTO: REUTERS  -  1,023 words
    • 529 17  -  By ALBERT HUNT The writer is a Bloomberg View columnist Bloomberg MICHAEL McFaul, who recently stepped down as US ambassador to Russia, says President Vladimir Putin is riding “an ugly nationalistic fervour that’s off the charts” and is likely to escalate tensions
      Bloomberg  -  529 words
    • 830 17  -  FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 XI Jinping is leaving tomorrow on his first visit to Europe since assuming the presidency a year ago with the aim of enhancing economic
      PHOTO: AFP  -  830 words


  • PROPERTY
    • 673 18  -  CEO says X-Value can ‘mitigate the problems faced by HDB home buyers’ B)’ LYNETTE KHOO |yn|<hoo@sph.com.sg [SINGAPORE] Negotiating property prices, especially for HDB resale flats, will no longer be like a shot in the dark with “X-Value”, a new real-time pricing feature. Launched by
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    • 408 18 Forest City, to be located near Second Link, will require massive reclamation [PETALING JAYA] China’s Country Garden Holdings Co Ltd and Kumpulan Prasarana Rakyat Johor (KPRJ) have drawn up plans for a massive reclamation project to build luxury homes near Pendas in
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  • Page 18 Advertisements
    • 554 18 Call Toll-free 1800-289-9988 To Place Your Classified Advertisements WATS D04 HOUSE FOR SALE OCEAN DRIVE Seaview living Bunglw. A&A 2012 Worth $5.6m 2sty+ basement, 5 bdrm+ dining+ 2 maid rms gym, pool. Land 9580/ *****sf. Ron 9852 9055 D04 HOUSE FOR SALE SENTOSA Bungalow Sentosa 3½-Storey 8159 sqft,6+1 ensuite, 2
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    • 116 18 D10 APARTMENT FOR SALE ASTRID MEADOWS Blk 50 Corner unit. 2045 sqft. 3+1 ensuites. Large balcony. Face pool. F’hold. Vacant. FSR 9106 0606 D10 APARTMENT FOR SALE GRANGE RESIDENCES 4 bdrms, 2850 sf. High flr, unblocked view, serious seller. VTO. 8222 2420 J Tay D10 APARTMENT FOR SALE HOLLAND RESIDENCES
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  • Page 19 Advertisements
    • 899 19 sgil ill CITY L V N G BY TH E 9 Upcoming^^^^^^H at Jurong Lake District 5 mins walk to 2 MRTs Panoramic view of Jurong Lake Lush Condo facilities Next to Canadian Sch Rulang Pri Sch Foreigners eligible JAZZLYNSEAH *****221 REGISTER WITH US NOW! Exclusive Marketing Agency Huttons' D12
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    • 206 19 D14 OFFICE FOR SALE LOR 24A GEYLANG Lor 24A Geylang. Office building. Land 2575 sf Build up approx 9900 sf. Freehold. Serious seller! D22 OFFICE FOR SALE VISION EXCHANGE ’Preview!’ Strata Offices/ Medical Clinics/ F&B Jurong Gateway The Biggest Commercial Hub Outside The City. No SSD/ ABSD. 6767 0008 OT
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  • SHIPPING/AVIATION
    • 452 20  -  But analysts do not believe this signals long-term shift in sector’s financing By MALMINDERJIT SINGH msingh@sph.com.sg [SINGAPORE] Private equity (PE) funds have entered the maritime industry quite rapidly in recent years with the slowdown in bank lending. However, industry players at the Asia
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    • 291 20 Reuters [COPENHAGEN] Leading container shipping lines said they will raise Asia-US freight rates by US$300 per 40-foot container (FEU) from April 15 instead of May 1, after rates declined in February and early March. The increase was agreed by the Transpacific Stabilization
      Reuters; FILE PHOTO  -  291 words
    • 239 20 SGX '000 Mar 20 S$ +/-Vol Ch Offshore 0.41 0.01 50 Chuan Hup Hldg 0.26 unch 60 Mar 20 Cwt Limited................1.30 0.01 218 First Ship Lea 0.09 unch 623 Grand Banks unch unch 0 Jaya Hold Ltd K1Ventures Chuan Hup Hldg.. Keppel Corp 10.43 -0.09 2981 Mercator Lines
      239 words
    • 472 20 Reuters [COPENHAGEN] Danish ship fuel supplier OW Bunker is aiming for a stock market value of up to 5.5 billion kroner (S$1.3 billion) when it becomes the latest Scandinavian firm to take advantage of buoyant equity markets to list its
      Reuters  -  472 words
    • 598 20 Reuters [WASHINGTON] The Boei n g 787 D r ea m li n e r grounded for months last grounded for months last year after battery overheating problems, is soundly designed and safe to fly, a joint review by the planemaker and
      Reuters; FILE PHOTO  -  598 words
    • 315 20 NYT [NEW YORK] The major systems on Boeing’s 787 Dreamliner jets are safe and well-designed, but federal regulators need to provide more oversight of the far-flung supply networks that are building these and other planes today, according to a report released on
      NYT  -  315 words
  • Page 20 Advertisements
    • 35 20 Indian architects and designers in Singapore add their touch to the landscape DIRECTING DAD Rajini’s daughter shares her experiences GET YOUR COPY TODAY FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
      35 words

  • 2341 21 Papua New Guinea Australia New Zealand New Caledonia Fiji all other Pacific Islands Dili (East Timor) Guam (Mariana Islands) Honolulu (Hawaii) SOUTH PACIFIC SERVICE W W W. N G P L J S P. C O M THE CHINA NAVIGATION CO. PTE. LTD. 300 BEACH ROAD #02-02 THE
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  • Page 22 Advertisements
    • 144 22 mporters ooking for Warehouse Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT *****327 II USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times Shipping Times I FREIGHT FORWARDER urgently needed by shippers TO ADVERTISE, CALL
      144 words

  • SINGAPORE STOCKS
    • 3001 23 Transaction date: Mar 20 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil Last 14 10.4 8Telecom Day Last Quote Div Gr Yld Net M Cap 181.6 102.4 AIMSAMPIReit 131 -0.5 344 131.5
      3,001 words
    • 300 24 52-wks Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 35 22 t 3Cnergy 500 Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale ('000) High Low Buyer Seller
      300 words
    • 11066 24 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.51/ Aberdeen Asset Mgt Asia Limited Aberdeen Asset Mgt Asia Limited EM Local Ccy Bond 1 8734/ China Opportunities 1 2 6213/ EM Local Ccy Bond *****/ European Opportunities 1 1 3329/ Global Emerging Markets
      11,066 words
    • 245 24 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil Low 52 35.5 Genting HK US$ US39.5 unch 4447 40 39 39 39.5 2600.9 Last 318 191 TanChongInt HK313 306 313 4.3 2.2 10.5 6303.5 DISCLAIMER: All
      245 words
    • 1149 24 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 121 108.3 ABF SG Bond ETF 112 -1.2 1 112 112 112 114 511.3 143 119 CIMB APAC Div 100S$D 122.3 -1.4 122.3 122.3 121 123.5
      1,149 words


  • FINANCE & COMMODITIES
    • 701 25 Mar 20 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.76 *****.76 *****.83 Jun14 *****.00 *****.00 *****.00 *****.00 *****0 *****0 Sep14 *****.00 0 2210 MSCI TAIWAN INDEX FUTURES SPOT 303.45 303.45 301.56 Mar14 305.90 306.50 301.10 301.80 ***** *****6 Apr14 306.00 306.30 301.00 301.70
      701 words
    • 373 25 In local curr In S$ In US$ dy yr dy yr dy yr Mar 19 Index Change Change Change Change Change Change World Preliminary 1181.2 -0.1 -0.3 0.1 0.4 -0.1 0.1 EAFE Preliminary 928.8 -0.1 -2.9 0.1 -1.1 -0.1 -1.4 Europe Preliminary 1347.4 -0.2 -0.6
      373 words
    • 471 25 Mar 20 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.015 5.619 0.652 7.005 55.124 103.076 0.924 9.709 2.974 1.057 88.438 40.653 1.150 9.803 0.795 27.574 29.218 0.545 0.902 Canada 0.985 5.535
      471 words
    • 34 25 Mar 20 (US$) (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) (S$) 3 mths ..0.***** 3 mths Source: Thomson Reuters
      34 words
    • 88 25 Mar 20 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 6-Month BS*****Z 27-Jun-14 0.3 1-Year BY*****T 31-Oct-14 0.31 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0W 1.13 01-Apr-16 101.41 101.52 101.50 5-Year NX*****W 2.5 01-Jun-19 104.87 105.15 104.95
      88 words
    • 136 25 Mar 20 GOLD(US$/oz) Mar 20 Mar 19 Hong Kong 1334.00 1355.00 Mar 19 Mar 18 London 1340.96 1358.30 1341.73 1358.60 Source: Thomson Reuters CAST BAR Mar 20 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 81 52 5gm 326 270 10gm 608 542
      136 words
    • 57 25 Mar 20 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Apr 14 2850.0 2871.0 2871.0 2840.0 129 3776 May 14 2785.0 2812.0 2814.0 2768.0 6672 ***** Jun 14 2755.0 2777.0 2780.0 2735.0 ***** ***** Jul 14 2720.0 2743.0
      57 words
    • 155 25 Mar 20 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1491 1.1502 0.9021 0.9023 Canadian dollar 1.1318 1.1329 0.8887 0.8885 Euro 1.7619 1.7633 1.3832 1.3833 NZ dollar 1.0869 1.0881 0.8533 0.8536 Sterling pound 2.1076 2.1095 1.6546 1.6549
      155 words
    • 109 25 Mar 19 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low May 14 1431.25 1418.25 1442.00 1416.50 Jul 14 1410.75 1395.75 1417.00 1394.00 Aug 14 1359.00 1348.25 1365.25 1350.00 Sep 14 1255.50 1246.50 1256.50 1247.00 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low May 14
      109 words
    • 94 25 Mar 19 COCOA (£/tonne) Close Prev High Low May 14 1899 1897 1902 1894 Jul 14 1896 1893 1898 1891 Sep 14 1892 1891 1895 1887 Dec 14 1873 1871 1877 1869 COFFEE(US$/tonne) Close Prev High Low Mar 14 2150 2201 2181 2150 May 14 2090 2135 2145 2082
      94 words
    • 1133 25 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 41 0.0 5 -89 52 Asia-Pacific Strategic W*****6 1 1 123 185 43.50 2 Ratio Exer Ascendas Reit MB eCW*****1 2 0.2 210 1 Ascendas Reit MB ePW*****1
      1,133 words
    • 70 25 CRUDE OIL PRODUCTS Mar 19 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 106.00 -0.85 WTI (Near Mth) 100.26 0.59 Dubai (1-Mth F) 102.66 -0.39 Tapis blend 111.01 -0.60 Minas 106.11 -0.60 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 100.89 0.45 Jet Kerosene 118.11 0.23 US$/barrel OpecOil Basket
      70 words
    • 22 25 Mar 20 S$ Bid Offer 1-month 1.2738 1.2747 2-months 1.2738 1.2747 3-months 1.2737 1.2747 6-months 1.2735 1.2745 Source: OCBC
      22 words
    • 65 25 Mar-19 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 1694.00 1691.85 3 months 1739.00 1736.00 Copper, Grade A(US$/tonne) Cash 6571.00 6501.00 3 months 6553.00 6483.00 Lead(US$/tonne) Cash 2055.00 2045.75 3 months 2078.00 2069.50 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.50 3 months *****.00
      65 words
    • 121 25 As at 9am Mar 20 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.174 1.119 Can dollar 1.153 1.109 Euro 1.801 1.716 Sterling pound 2.145 2.063 NZ dollar 1.111 1.069 US dollar 1.299 1.238 Local dollars to 100 units of foreign
      121 words
    • 157 25 Mar 20 $S Offer Bid 0vernight 0.02 par 1-month 3/8 1/4 2-months 3/8 1/4 3-months 7/16 5/16 Overnight mode: 0.12 US$ Offer Bid 7 days 0.20 0.10 1 month 0.25 0.15 2 months 0.30 0.20 3 months 0.40 0.20 6 months 0.50 0.30 9 months 0.60 0.40 12
      157 words

  • executive lifestyle
    • 772 26  -  Feisty entrepreneurs are delving into old-fashioned businesses such as tailoring, opticals and hawker fare with a new gusto By DEBBIE YONG debyong@sph.com.sg 1:1.618LeongT 47 Keong Saik Road Tel: 8353-6999 Email: *****leongt@gmail.com Hours: 12.30pm till late (Mon-Sat), Sundays by appointment only THE next time you’re dithering for
      PHOTO: YEN MENG JIIN  -  772 words
    • 655 26  -  Optical lens manufacturer Kwang Meng joint ventures with Pin Pin Optical Store By CHEAH UI-HOON By uihoon@sph.com.sg RELUCTANT see an old optical shop in Singapore run by third-generation scions just pull down its shutters, this company stepped in and proposed a joint venture. “Because Pin
      PHOTO: JOHN HENG  -  655 words
    • 760 26  -  By DEBBIE YONG debyong@sph.com.sg Jane Thai #04-30 Orchard Towers, 400 Orchard Road, www.facebook.com/JaneThai.Singapore Hours: 3pm-1am (Mon), 6pm-3am (Tue-Sun) THE last place you’d expect to find a bottle of 1991 Chateau Lafite Rothschild is probably tucked in a plastic fridge at the back of a
      PHOTO: YEN MENG JIIN  -  760 words
    • 663 27  -  By CHEW HUI-YAN hychew@sph.com.sg Ryan Chua From a quantitative finance background to being a hawker at Joo Siah Bak Koot Teh in Jurong East FOR a whole year, Ryan Chua analysed credit portfolios as a risk analyst in DBS Bank from Monday to Friday,
      PHOTO: CHEW JUN-E  -  663 words
    • CINEMA/COVER
      • 657 27  -  The Grand Budapest Hotel is a cinematic curio, writes GEOFFREY EU By GEOFFREY EU A PECULIAR blend of offbeat charm, oddball characters and unique visual style is what typically sets a Wes Anderson movie apart from the rest, and The Grand Budapest Hotel is no exception. In line
        657 words
      • 522 27  -  By GEOFFREY EU AS someone who transcended greatness while creating history in his own lifetime, Nelson Mandela surely qualifies as an ideal candidate for a film biography. His death in December last year marked the end of an extraordinary life and in truth, so immense was his
        522 words
      • 581 27  -  By. DYLAN TAN dy|antan@sph.com.sg MALAYSIA definitely “boleh” with its box-office smash The Journey continuing its trek across the Causeway to Singapore after the RM3-million (S$1.1-mil-lion) movie earned RM17 million to become the country’s top-grossing movie of all time. With its mix of heartwarming drama and light-hearted comedy,
        581 words
    • CINEMA/PROFILE
      • 639 28  -  By DYLAN TAN dylantan@sph.com.sg IF THERE’S anything the Japanese take more seriously than their food, it has to be their anime. Divided into every imaginable sub-genre with literally something for everyone children, adults, and even women the scene not only has a fervent
        PHOTOS: STUDIO GHIBLI  -  639 words
      • 752 28  -  Lionel Ritchie hits all the high notes from writing songs for legendary R&B funk band The Commodores to striking out on his own, writes DYLAN TAN writes DYLAN TAN AT 64, multi-platinum selling artist and music icon Lionel Richie is still living up to the title
        752 words
      • 525 28  -  By CHEW HUI-YAN hychew@sph.com.sg A HARSH dose of reality can be expected at this year’s Southeast Asian Film Festival as regional politics and identity are explored across many of the works that will screen in this year’s edition. Close to half of
        PHOTO: SOUTHEAST ASIAN FILM FESTIVAL  -  525 words
      • 548 28  -  By CHEW HUI-YAN hychew@sph.com.sg REAL people can be actors too. It’s a mantra put to good use by the director Chiu Keng Guan who cast non-actors in Malaysia’s top-grossing film The Journey, and now, veteran television actor Tay Ping Hui is doing the same with
        PHOTO: CLOVER FILMS  -  548 words
    • ARTS/MUSIC
      • 633 29  -  By LEE U-WEN leeuwen@sph.com.sg NOT a single hand went up when Mick Jagger asked if anyone in the crowd was at The Rolling Stones’ first concert on these shores at the Badminton Hall way back in 1965 the year of Singapore’s independence, no less. “The building
        PHOTO: AFP  -  633 words
      • 617 29  -  BY RACHEL LOI rach|oi@sph.com.sg PLAYWRIGHT Irfan Kasban is done with writing scripts. At least for now. So for his upcoming production (which has an ironically wordy title) A Beautiful Chance Encounter of a Sewing Machine and an Umbrella on an Operating Table, he decided to
        PHOTO: TEATER EKAMATRA  -  617 words
      • 762 29  -  Glen Goei corrals a stellar cast for House of Bernarda Alba, writesCHEAH CHEAH UI-HOON uihoon@sph.com.sg Spanish playwright Federico Garcia Lorca’s The House of Bernarda Alba is that classic epic play with larg-er-than-life characters, where a country and a community’s problems at
        PHOTO: WILD RICE  -  762 words
      • 492 29  -  By DYLAN TAN dylantan@sph.com.sg ANYONE who follows reality singing competitions on television will know how harsh Simon Cowell can be, so you can expect some quality assurance when it comes to a musical group that he manages. Hence, it’s no surprise that Il Divo, the
        PHOTO:  -  492 words
    • ARTS
      • 954 30  -  Christine Argillet paints a down-to-earth portrait of the master, writesCHEAH CHEAH UI-HOON SALVADOR Dali has been painted by the media especially in the US as an eccentric artist whose persona was as interesting as his art, if not more so. But he was in fact extremely
        PHOTOS: REDSEA GALLERY, FILE  -  954 words
      • 248 30 NLes Chants de Maldoror, a collection of poems deemed important by surrealists, is a suite of 50 prints illustrated by Dali NDali’s link with Asia are seen in Poems of Mao Zedong and The Hippies. In 1967, in the midst of the Cultural Revolution, Pierre
        248 words
      • 874 30  -  By CHEAH UI-HOON uihoon@sph.com.sg HEMAN Chong might have started out in his career as a video artist, in the early 2000s; and gained recognition as a multi-media artist and a conceptual one. These days however, he’s better known as a painter, of imagined book covers. In
        FILE PHOTO  -  874 words
      • 552 30  -  By RACHEL LOI rachloi@sph.com.sg NATURE has always been a constant source of inspiration for many artists. Whether to examine it on its own, explore their relationship with it, or more pertinently in this day and age –to react to the way climate change
        PHOTOS: DONNA ONG, FRAYN YONG  -  552 words
    • WINE/PURSUITS
      • 680 31  -  By CHEW HUI-YAN hychew@sph.com.sg IF ever a zombie apocalypse were to descend upon Singapore, a good portion of our population would have a fighting chance at survival; thanks to the training received from zombie themed races Run For Your Lives and Race the Dead.
        680 words
      • Around Town
        • 347 31  -  Compiled by CHEW HUI-YAN The Circle Of Life: Admire the art works of Hong Kong based painter Justin Y at his first Singapore solo exhibition, The Circle of Life. The exhibition will feature 21 pieces of abstract finger painting and will be divided into three sub-section: A World of
          347 words
        • 133 31 The People’s Collection: ADMIRE over 170 items collected from homes, antique shops, offices and shops in Singapore. The objects were collected as part of a six-part television series entitled Treasure Hunt that was shown on Channel News Asia earlier this year. The series aimed to explore
          PHOTOS: ERIC LOH, TEO ENG SENG’S FAMILY  -  133 words
      • 1251 31  -  Skyrocketing prices of Burgundy make Bordeaux wines a more palatable option, saysNK NK YONG AS IN haute couture, fashion has a big role to play in the world of wine. Currently in style is Burgundy, almost ad nauseam! Demand appears to be insatiable at the moment, coming
        1,251 words
      • 151 31  -  By DEBBIE YONG By debyong@sph.com.sg NAKED chef Jamie Oliver (left) caused a huge stir when he made his highly anticipated visit to Singapore yesterday. The British celebrity chef arrived here in the late morning after a 13-hour flight from London, and
        PHOTO: DEBBIE YONG  -  151 words
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  • Page 31 Miscellaneous
    • 348 31 CRYPTIC CROSSWORD Across 1 Some wrote to musician about choral composition (5) 4 Sound and smell coming from game (4-4) 8 Mathematically able to work out true mean (8) 9 To our sort, piece of jewellery is outstanding (8) 11 City house one no good is coming back (7) 13
      348 words