The Business Times, 24 July 2014

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Microfilm: NL33182
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Lock icon Masthead
    25 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg SfCl A SINGAPORE PRESS HOLDINGS PUBLICATION CO R GN NO *****2868E MCI (P) 085/08/2013 Thursday, July 24, 2014
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  • Article, Illustration
    Lock icon Deja vu for CPF private pension plans
    888 1  -  Challenges raised 10 years ago still need to be resolved today By GENEVIEVE CUA gen@sph.com.sg [SINGAPORE] The issue of private pension plans for the Central Provident Fund (CPF) has resurfaced amid concern over an ageing population and insufficient savings. But there will be
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  • Article, Illustration
    Lock icon June CPI eases to 1.8%; inflation forecasts cut
    895 1  -  Lower car prices and housing costs seen in H2, but core inflation will stay high at 2-3% By KELLY TAY kellytay@sph.com.sg @KellyTayBT [SINGAPORE] The government has cut its 2014 inflation forecast amid lower car prices and housing costs expected for the second
    Source: Department of Statistics; FILE PHOTO  -  895 words
  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 GST INDEX 3,340.70 (+23.79) GST INDEX FUTURES 3,339.00 (+23.00) GSIMSCI 382.07 (+3.30) GSIMSCI FUTURES 382.40 (+3.70) US$ S$ US$ (S$ per US$) 1.239 (US$/S$ per 1.709 2.118 EURO (US$/S$/€ 1.346 1.668 Foreign currency per US$ S$ YEN 101.40 81.80 RM 3.169 2.557 HK$ 7.751 6.255 BAHT 31.78 25.65 RUPIAH
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    • Article
      Lock icon MARKETS
      49 1 Wednesday Change KL COMP 1,871.83 +0.47 NIKKEI 225 15,328.56 -14.72 HANG SENG 23,971.87 +189.76 SET INDEX 1,541.56 +20.75 JAKARTA COMP 5,093.23 +9.71 MANILA COMP 6,892.92 +22.98 SEOUL COMP 2,028.32 -0.61 SHENZHEN B 892.33 -4.10 MUMBAI IND 26,147.33 +121.53 12 noon EDT Change DOW 17,100.66 -12.88 NASDAQ 4,476.31 +20.30
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    • Article
      Lock icon PRIME RATES
      22 1 SINGAPORE 5.35 MALAYSIA 6.55 HONG KONG TAIWAN INDONESIA JAPAN TAIWAN 5.036 JAPAN 1.475 CANADA 9.33 SWITZERLAND 0.50 US Source: Bloomberg
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      89 1 COMMENTARY Could a disruption of Iraqi oil hurt China? PAGE 18 HOCK LOCK SIEW Seek high-yield blue chips, not bonds PAGE 5 AVIATION TransAsia Airways plane crashes on landing PAGE 17 PROPERTY Sharp rise in private home purchases in Q2 PAGE 3 www.vacherdrtrc6nstantin.cbra www.thehour lounge.c fh ij H'VijllfflmH LAKE GENEVA.
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  • TOP STORIES
    • Article
      Lock icon THREE-MINUTE DIGEST
      434 2 June CPI dips, inflation forecasts cut THE government has cut its 2014 inflation forecast amid lower car prices and housing costs expected for the second half of the year: it now sees headline inflation coming in at the lower half of its 1.5-2.5 per cent forecast range. FRONT
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    • Article, Illustration
      Lock icon Study shows worsening fraud at S’pore companies
      789 2  -  58% of frauds committed by staff; according to KPMG-SMU survey By MICHELLE QUAH michquah@sph.com.sg @MichelleQuahBT [SINGAPORE] The incidence of fraud has grown at Singapore companies in recent years, with internal fraud often the result of inadequate internal controls being the most prevalent type.
      Source: KPMG, SMU  -  789 words
    • Article
      Lock icon Analysts not expecting surprises from local banks
      803 2  -  By SIOW LI SEN lisen@sph.com.sg @SiowLiSenBT [SINGAPORE] Analysts do not expect major surprises from the three local banks’ second-quarter results. So what will they be looking out for? Top of the scrutiny list would be disclosures on their China exposures and Asean businesses.
      803 words
    • Article
      Lock icon Goods vehicle COE premiums soar 20%
      542 2  -  With next month’s supply cut, one dealer believes it may hit S$55,000 B)’ SAMUEL EE samue|ee@sph.com.sg [SINGAPORE] PREMIUMS for certificates of entitlement (COE) rose across the board yesterday, with those for commercial vehicles jumping 20 per cent ahead of a big quota reduction from
      542 words
    • Article
      Lock icon Sharp rise in private home purchases in Q2
      1057 3  -  Number of resale units up 41 new sales by developers jumped 36.8% PRIVATE HOME PURCHASES Reports by KALPANA RASHIWALA kalpana@sph.com.sg @KalpanaBT [SINGAPORE] Here’s a possible reason why the authorities are not inclined to remove any property cooling measures just yet: There was
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    • Article
      Lock icon Indians overtake Indonesians among foreign buyers
      679 3 [SINGAPORE] Something unexpected has taken place in the second quarter of the year Indonesians’ share of private home purchases here by permanent residents and foreigners sank to a fresh low. So much so that Indians zoomed past to emerge as the third largest group
      679 words
    • Article, Illustration
      Lock icon Jokowi aiming for 7% growth for Indonesia
      1068 3 Reu ters Bloomberg [JAKARTA] President-elect Joko Widodo said he’s aiming for a growth pace Indonesia hasn’t seen since before the 1990s Asian financial crisis, a shift that would bolster the clout of the world’s fourth most-populous nation. “We must address shortcomings in infrastructure,
      Reuters; Bloomberg; PHOTO: AFP  -  1,068 words
    • Article
      Lock icon A*Star, partners unveil 4 joint semicon labs
      294 3  -  They represent commitment of S$200m By JACQUELYN CHEOK jaccheok@sph.com.sg @JacCheokBT FOUR advanced semiconductor labs representing a commitment of S$200 million from the public and priv a t e sec t ors w ere launched yesterday by A*Star’s Institute of Microelectronics (IME) and 10
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      174 2 The HEAD Foundation is pleased to present a free public lecture entitled What do successful entrepreneurs and innovators really do? with PROF SIMON TAM Simon Tam is adjunct associate professor at the University of Hong Kong Business School, co-founder of the Academy of Innovation, and co-founder of ICO Group of
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  • COMPANY NEWS
    • Article
      Lock icon Local banks likely to raise interim payouts: Markit
      527 4  -  Over the years they have paid stable but incremental dividends By SIOW LI SEN lisen@sph.com.sg @SiowLiSenBT ALL three local banks, DBS Group Holdings, United Overseas Bank and OCBC Bank, are likely to increase their interim dividends, said Markit yesterday. The financial-services data
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    • Article, Illustration
      Lock icon New acquisitions, better rentals boost A-Reit Q1 results
      516 4  -  By LEE MEIXIAN leemx@sph.com.sg @LeeMeixianBT ASCENDAS Reit (A-Reit) yesterday posted a 2.5 per cent increase in distribution per unit (DPU) to 3.64 Singapore cents for its first quarter ended June 30. The industrial Reit makes distributions semi-annually, so it will pay out
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    • Article
      Lock icon Lian Beng posts record profit, higher dividends
      445 4  -  Revenue jumps on rise in property development sales By LEE MEIXIAN leemx@sph.com.sg @LeeMeixianBT BOOSTED by record revenue and higher gross margin, construction group Lian Beng’s full-year net profit attributable to shareholders surged 19.4 per cent to a high of S$87.1 million. The 12
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    • Article
      Lock icon Tiger bets on tie-ups after Q1 loss worsens to S$65m
      535 4  -  By NISHA RAMCHANDANI nishar@sph.com.sg @Nisha_BT TIGER Airways is seeking to boost overseas sales as well as drive more connecting traffic through its Singapore hub by leveraging on strategic alliances, said new group chief executive Lee Lik Hsin. “We want to
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    • Article
      Lock icon Ezion sells two businesses to AusGroup for S$55m
      604 4  -  By ANITA GABRIEL anitag@sph.com.sg @AnitaGabrielBT JUST over three months after offshore firm Ezion Holdings joined hands with struggling AusGroup to suss out opportunities in the logistics space, both parties have tightened the pact even further. Separate announcements by the two parties yesterday
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    • Article
      Lock icon Xpress in share placement deal to raise S$9.48 million
      310 4  -  It acts after creditors start legal action over debts By JACQUELYN CHEOK jaccheok@sph.com.sg @JacCheokBT SEVERAL creditors have commenced legal proceedings against Xpress Holdings and its subsidiary, Xpress Print, for about S$2.4 million in sums due. Announcing this yesterday, the mainboard-listed printing
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    • COMPANY BRIEFS
      • Article
        Lock icon Pteris shareholders approve RTO
        75 4 PTERIS Global Limited shareholders yesterday approved the reverse takeover (RTO) deal involving Tianda Group and China International Marine Containers (CIMC). CIMC, which currently controls 15 per cent of Pteris and which will gain majority interest after the deal, abstained from voting. Shareholders representing 55 per cent
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      • Article
        Lock icon Alliance Mineral Assets IPO raises S$15.56m
        66 4 AUSTRALIA-BASED Alliance Mineral Assets Limited yesterday said that it received strong retail and institutional interest for its initial public offering (IPO) and has fully placed out 67.67 million shares at 23 cents each. The IPO proceeds raised is S$15.56 million, and the company will
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      • Article
        Lock icon Boardroom unit gets ERL letter of demand
        94 4 BOARDROOM Limited disclosed that its wholly owned Australian subsidiary, Boardroom Pty Limited (BRPL), has received a letter of demand from solicitors acting for Elsmore Resources Ltd (ERL). ERL is seeking to recover A$3.9 million (S$4.6 million) of losses that it claims to have
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    • Article
      Lock icon Keppel Land lifts Q2 profit despite falling sales
      562 5  -  S$107m earnings helped by fund mgt business and some China projects By LYNETTE KHOO lynkhoo@sph.com.sg @LynetteKhooBT DESPITE headwinds in the residential markets of Singapore and China, Keppel Land still racked up a decent 12.2 per cent rise in net profit to S$107.2
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    • Article
      Lock icon Seek high-yield blue chips, not bonds
      730 5  - Seek high-yield blue chips not bonds HOCK LOCK SIEW By CAI HAOXIANG haoxiang@sph.com.sg @HaoxiangCaiBT THE rush for yield in Singapore reaches new heights every day, and at first glance, retail investors are losing out. On Monday, rubber producer Halcyon Agri received orders of over S$2 billion for just S$125 million
      730 words
    • Article
      Lock icon Sheng Siong Q2 profit up 30.3%
      312 5  -  By CARINE LEE carinel@sph.com.sg @CarineLeeBT SHENG Siong Group Ltd yesterday posted a 30.3 per cent rise in net profit for the fiscal second quarter ended June 30, on higher profit margin. With a 7.4 per cent increase in turnover to S$171.56 million, gross profit
      312 words
    • Article
      Lock icon CMT tenants’ sales down 3.3% in Q2
      888 7  -  But Reit’s DPU is up 6.3% at 2.69 S’pore cents a 5.37% annualised yield By KALPANA RASHIWALA kalpana@sph.com.sg @KalpanaBT CAPITAMALL Trust Singapore’s largest shopping centre real estate investment trust yesterday said that tenants’ sales fell 3.3 per cent in the quarter ended June
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    • Article
      Lock icon Eyes on China XLX performance on HK bourse
      446 7  -  By VEN SREENIVASAN ven@sph.com.sg SINGAPORE and Hong Kong dual listed fertiliser maker China XLX Fertiliser Ltd’s stock will cease trading on the Singapore bourse at the end of tomorrow’s session. From Monday onwards, it will only be quoted on the Hong Kong
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      46 5 Congratulations to ABB <s 9 S7t m a mn ra mm #0? V v on the opening of your Regional Robotics Packaging Application Hub With compliments ABRASIVE ENGINEERING H AP T Kngineering Ptf Ltd ESAB innogrity MPT Mega Plus Technology Pte Ltd IF complete WeMmg Solutions
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      10 5 la Power and productivity for a better world™ A lill
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon STI marches to another fresh 1-year high
      685 6  -  The index rises 0.7 per cent on the seventh straight day of gains, fuelled by Wall Street rally STOCKS ANITA GABRIEL anitag@sph.com.sg @AnitaGabrielBT Senior Correspondent ONWARDS and upwards. Shares in the local bourse rose again, this time with a spring in its step,
      Source: Bloomberg  -  685 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 6 Jul 23 VALUE CLOSE BT OB/OS 64.00 +79.00 BT CADI -*****.00 +36.00 BT 10-day MA -*****.00 +6.00 FTSE ST Mid Cap 786.12 +3.26 FTSE ST Small Cap 568.79 +1.38 FTSE ST All Share 814.61 +5.14 FTSE ST China Top 200.11 +1.00 FTSE ST China 228.54 +1.53 FTSE
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    • Article
      Lock icon MOST ACTIVE STOCKS
      58 6 VOLUME Jaya 78,390,000 Blumont 77,109,000 Spackman 76,734,000 APAC Strategic 62,013,000 SIIC Environment 46,827,000 Xpress 39,353,000 KimHeng Offshore 35,641,000 Vallianz 34,691,000 Golden Agri-Res 32,383,000 Asiasons Capital 29,411,000 VALUE($) DBS Grp 84,229,910 Global Logistic 51,300,640 UOB 37,732,842 Wilmar Intl 36,549,042 Spackman 35,148,760 SingTel 30,446,420 JMH 400 USD 28,561,855 CapitaLand
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 5 4 0 0 0 6 5 4 Manufacturing 39 48 45 9 9 13 48 57 58 Commerce 26 19 19 5 2 8 31 21 27 Tpt/Stor/Comms 19 12 12
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      119 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 18,264 18,264 45,240 45,240 Manufacturing 305,495 68,482 373,977 125,543 11,446 136,990 Commerce 68,883 84,606 153,489 71,436 7,640 79,077 Tpt/Stor/Comms 166,266 570 166,836 98,411 73 98,485 Finance 27,967 590 28,557 156,036 185 156,221 Construction 46,175 9,790
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    • Article, Illustration
      Lock icon BROKERS’ TAKE
      965 6  -  Compiled by CAI HAOXIANG Singapore strategy Daiwa Capital Markets, July 23 WE are still “overweight” on the property developers. We expect weak home sales, rising inventory levels, and the first of at least three consecutive years of robust deliveries to weigh heavily on the physical property market in
      Source: Bloomberg  -  965 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      120 6 Stock name Close Change Ascendas Reit 2.330 +0.010 CapitaLand 3.320 +0.020 CapitaMall Trust 2.000 -0.010 CityDev 10.420 -0.050 ComfortDelGro 2.590 DBS Grp 17.910 +0.300 Genting Sing 1.325 Global Logistic 2.780 +0.060 Golden Agri-Res 0.550 -0.005 HPH Trust USD 0.740 HongkongLand USD 6.760 +0.010 JMH 400 USD
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    • Article, Illustration
      Lock icon Euro hits 8-month low against US$ on Russia sanction woes
      539 6 CURRENCIES Reuters [LONDON] The euro hit an eight-month low against the dollar yesterday as worries over tougher sanctions on Russia and their potential impact on fragile eurozone growth drove investors away from the single currency. Harsher steps could be a
      Reuters; PHOTO: AFP  -  539 words
    • Article
      Lock icon RISES
      120 6 BY CENTS CLOSE UP Lyxor ThaiSET 10US$ ***** 188.4 1.1 Lyxor Indonesia10US$ 9636 174.7 1.5 DBXT AUDCS 5US$ ***** 167.3 0.7 DBXT AUDCS 5SG$ ***** 127.0 0.5 SPDRS S&P 500 10US$ ***** 96.7 0.4 Jardine C&C 4690 91.0 2.0 DBXT Nifty 10US$ ***** 71.9 0.4 DBXT SPASX200 10US$ 4358
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    • Article
      Lock icon FALLS
      129 6 BY CENTS CLOSE DOWN DBXT iBoxxSvEu 5US$ ***** -71.9 -0.2 DBXT AUD Bonds 5AU$ ***** -35.1 -0.2 DBXT EONIA 5US$ ***** -34.7 -0.1 DBXT DBLCI-OY 5US$ 3376 -24.8 -0.6 DBXT DBCBDJUBS 10US$ 2893 -21.1 -0.6 Combine Will 100 74.5 -10.0 -11.8 DBXT DBCBLEB 10US$ 1835 -9.9 -0.4 Venture Corp
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      Lock icon FTSE ST CATALIST INDEX
      5 6 DAILY
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      Lock icon Page 7 Advertisements Column 1
      656 7 r ALLIANCE MINERAL ASSETS LIMITED ALLIANCE MINERAL ASSETS LIMITED (Company Registration No. ACN 147 393 735) (Incorporated in Australia on 6 December 2010) Placement of 67,669,000 Placement Shares comprising 43,479,000 New Shares and 24,190,000 Vendor Shares at S$0.23 for each Placement Share, payable in full on application The Board of
      656 words
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon NTUC Health to operate its first nursing home
      437 8  -  It’ll focus on rehab care to send patients back home as fast as possible By SHEENA TAN tsheena@sph.com.sg HAVING established its brand in areas including retail, education and eldercare, the National Trades Union Congress (NTUC) will enter the nursing home sector, with
      437 words
    • Article
      Lock icon ABB opens robotics packaging systems hub
      282 8  -  By AMANDA EBER aeber@sph.com.sg ENGINEERING group ABB opened its Regional Robotics Packaging Application Hub in Ayer Rajah yesterday, with hopes of further driving productivity for firms in Singapore and South-east Asia. The new 600 sq m hub, which cost more than S$600,000, is an
      282 words
    • Article
      Lock icon Jump in cases linked to physical-assets investments
      315 8  -  By JAMIE LEE leejamie@sph.com.sg @JamieLeeBT IN THE whole of last year and 2012, Consumers Association of Singapore (Case) received about 30 cases each year linked to physical-assets investments. This is a big jump from the 10 complaints lodged with Case on such investments
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    • Article
      Lock icon New GDP growth formula: 1+2 = 3
      383 8  - New GDP growth formula: 1+2 3 1 workforce rise, 2% productivity gain for 3% GDP growth BY‘ CAI YONG céiyong@sph.com.S9 SINGAPORE is making a transition towards a new growth formula: “one plus two equals to three” meaning a one per cent rise in the workforce and a 2 per cent
      383 words
    • Article
      Lock icon Scottish companies: Feet here, eyes on Asia
      354 8  -  About 60 have been drawn to this nation in past 3 years By SHEENA TAN tsheena@sph.com.sg SINGAPORE is a key destination for Scottish companies looking to expand, having drawn about 60 companies here in the past three years. Most of these are small
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    • Article, Illustration
      Lock icon Melissa Kwee named new chief of NVPC
      313 8  -  By MINDY TAN tanmindy@sph.com.sg @MindyTanBT COMMUNITY activist and businesswoman Melissa Kwee has been named the new chief executive of the National Volunteer Philanthropy Centre (NVPC). She will formally step into the role of chief executive on Sept 1, replacing Mr Laurence Lien who
      313 words
  • Page 8 Advertisements
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      65 8 YOU MUST-HAVE ENOVATION ESOU CE BOOK! 2014 EDITION OUT NOW! Create your own cinema, spa and gym at home Build the wardrobe of your dreams Discover the hottest trends in tiles, wallpaper and more! EARLY-BIRD SPECIAL AT ONLY $8 (U.P. $10) Valid till July 31, 2014. Only for print edition
      65 words
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  • SINGAPORE ACCOUNTANCY CONVENTION
    • Article, Illustration
      Lock icon A battle to find common ground
      1046 9  -  The search for a unified set of accounting standards appears to have stalled, but there is cause for optimism. FRANCIS KAN reports FRANCIS KAN WHILE global efforts to combine two key accounting standards into a uniform set of rules have made headway in the
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    • Article
      Lock icon The quarterly reporting debate
      411 9 IN Singapore, there has been a long-run-ning debate in financial reporting circles on the benefits of quarterly reporting for listed companies here. Lim Ai Leen, executive director, Technical Knowledge Centre and Quality Assurance, Institute of Singapore Chartered Accountants (ISCA), said: “Quarterly reporting is not an end
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      Lock icon Page 9 Advertisements Column 1
      322 9 INSTITUTE OF SINGAPORE CHARTERED ACCOUNTANTS THE CAPSTONE EVENT OF THE YEAR SINGAPORE ACCOUNTANCY CONVENTION 2014 Rare opportunity to hear from and network with prominent Chairmen that helm International Standard-Setting Boards! Professor Arnold Schilder, Chairman, International Auditing and Assurance Standards Board Mr Hans Hoogervorst, Chairman, International Accounting Standards Board for the
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  • MALAYSIA/INDONESIA
    • Article, Illustration
      Lock icon Jokowi plans to resolve dispute over mining policy
      642 10 He wants to sit down with stakeholders to know the problem and find a good solution Reuters [JAKARTA] Indonesia’s incoming president Joko “Jokowi” Widodo has said that he wants to sit down with mining companies and other parties in a bid to
      Reuters; PHOTO: REUTERS  -  642 words
    • Article
      Lock icon CIMB eyes licences in Vietnam, Myanmar
      280 10 Reuters [BANGKOK] CIMB Group Holdings Bhd, Malaysia’s second largest lender, plans to seek banking licences in Vietnam and Myanmar as part of its drive to expand in fast-growing South-east Asian markets. CIMB, South-east Asia’s fifth largest bank by assets, is also keen to open
      Reuters  -  280 words
    • Article
      Lock icon Khalid’s dilemma threatens Selangor water assets plan
      528 10  -  BY PAULINE NG in Kuala Lumpur SELANGOR’S RM7.65 billion (S$3 billion) plan to acquire and renationalise the state’s water assets has been thrown into doubt amid growing pressure on Mentri Besar Khalid Ibrahim from his own party, Parti Keadilan Rakyat (PKR) to step
      528 words
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      Lock icon Page 10 Advertisements Column 1
      281 10 ST Seminar Showcase 2014 Singapore Malaysia Tl Ua.lt. Raffles City Convention Centre, Stamford Ballroom Level 4 Sunday, 31 August 2014 8.30am 5.00pm SEMINAR TOPICS SPEAKERS SHOWCASE FEATURED DEVELOPERS *Early bird prices end 10 August 2014 -r-7 Private Residential Market in 2H2014 to 2015 Is further price cut expected? Alan Cheong
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  • CHINA
    • Article, Illustration
      Lock icon Capital inflows may pick up: China official
      632 11 He adds that rising forex reserves could stoke long-term inflation Reuters [BEIJING] China may see more capital inflows for the rest of 2014 after experiencing some money flight in recent months, the country’s foreign exchange regulator said yesterday, as the yuan recovers due
      Reuters; PHOTO: AFP  -  632 words
    • Article
      Lock icon 5 staff held in China food scandal probe
      572 12 They include the head of Shanghai Husi Food, the firm’s quality manager Reuters [SHANGHAI] Shanghai police said yesterday that they detained five people in an investigation into a Chi-nese-based supplier of foreign fast-food brands, including KFC, McDonald’s Corp and coffee chain Starbucks
      Reuters  -  572 words
    • Article
      Lock icon Too many bankers can hurt HK IPOs
      576 12 Firms bet they could fetch higher valuations, but data show otherwise Bloomberg [HONG KONG] Companies going public in Hong Kong are getting the message that less is more. Betting they could fetch higher valuations, Chinese companies hired sometimes dozens of banks to sell
      Bloomberg  -  576 words
    • Article, Illustration
      Lock icon China said to tackle ‘fortress economies’ of local governments
      475 12 Reuters [TIANJIN] China is readying an assault on the “fortress economies” of local governments by creating a super region around Beijing, with proposals that sources suggest will be more aggressive than so far has been publicly revealed. The plans, expected to
      Reuters  -  475 words
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      1691 11 Keppel Land Limited (Incorporated in Singapore) (Co. Reg. No.: *****0001G) 1. UNAUDITED RESULTS FOR THE HALF YEAR ENDED 30 JUNE 2014 The Directors of Keppel Land Limited announce the following unaudited results of the Group for the half year ended 30 June 2014: Second Quarter Half Year Note 30.06.14 30.06.13
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      67 12 I A JSweet Dreams Only the most divine desserts and pastries will do for Hsueh Yun and Rebecca. Read their reviews in Life!, SundayLife! and in the SoShiok app. I S* i (T# *S*L Tan Hsueh Yun Food Editor w W 1 .THE STRAITS TIMES, vstraitstimes.com soshiok.com h 1 tt&
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  • WORLD
    • Article, Illustration
      Lock icon Family struggles to keep grip on Samsung
      976 13 Patriarch’s son may not be able to have the same influence Bloomberg [SEOUL] With Samsung Group’s powerful patriarch entering his third month in a South Korean hospital, his family risks losing its grip on the conglomerate he built into a force from smartphones
      Bloomberg; BLOOMBERG FILE PHOTO  -  976 words
    • Article
      Lock icon Microsoft’s Nokia purchase weighing down Q4 results
      551 13 Bloomberg [SEATTLE] Microsoft Corp’s purchase of Nokia’s mobile business dragged down fiscal fourth-quarter profit, even as the software maker benefits from improving corporate demand for computers and software delivered over the Web. Nokia’s operations, which Microsoft bought for 5.44 billion euros (S$9.07 billion)
      Bloomberg  -  551 words
    • Article, Illustration
      Lock icon Fed tries to cool raging social network fever
      509 13 Valuation metrics for smaller firms look substantially stretched, it says WP [WASHINGTON] Fed chair Janet Yellen has a hot stock tip for you: stop throwing so much money at anything that calls itself a social network. Specifically, the Fed thinks the “valuation
      WP  -  509 words
    • Article, Illustration
      Lock icon Mongolia, Japan reach free trade agreement
      464 14  -  B)’ ANTHONY ROWLEY By in Tokyo JAPAN and Mongolia yesterday reached what they called a “substantive free trade agreement” between the two countries, which represents Mongolia’s first ever such economic partnership deal. Mongolian President Tsakhiagiin Elbegdorj said at the start of a summit meeting
      PHOTO: AFP  -  464 words
    • Article
      Lock icon Judge orders Argentina, bondholders to negotiate
      736 14 Both sides have to meet a mediator until they can come to an agreement NYT [NEW YORK] Under the looming cloud of a default, Argentina and a group of New York hedge funds that are engaged in a bitter fight over debt repayments have
      NYT  -  736 words
    • Article, Illustration
      Lock icon Japan eyeing end to deflation: BOJ
      801 14 Reuters [SHIZUOKA, Japan] Bank of Japan deputy governor Hiroshi Nakaso said that the country was eyeing an end to deflation as rising wages and inflation expectations allow companies to increase prices of their goods, signalling confidence over a sustained economic recovery. But he voiced
      Reuters; PHOTOS: REUTERS; BLOOMBERG  -  801 words
    • Article
      Lock icon Court rulings create new uncertainty over Obamacare
      769 14 Reuters [WASHINGTON] Two US judicial panels on Tuesday injected new uncertainty into the future of President Barack Obama’s healthcare law, with conflicting rulings over whether the federal government can subsidise health insurance for millions of Americans. The appeals court rulings, handed down by
      Reuters  -  769 words
    • Article
      Lock icon Oil traders ready to dance the ‘contango’
      613 15 With front prices lower than future prices, they profit by storing fully loaded cargoes at sea Reuters [LONDON] Traders in the Brent oil market have started to use a word that was almost forgotten in the last four years “contango” in industry jargon,
      Reuters  -  613 words
    • Article, Illustration
      Lock icon Time to take profit from Thai post-coup rally, say analysts
      811 15 Bloom berg [BANGKOK] There have been three military coups in Thailand since the 1990s. After each, the stock market has advanced, including this year: The benchmark index rallied 8.2 per cent in the two months since the May 22 takeover.
      Bloomberg; PHOTO: BLOOMBERG  -  811 words
    • Article, Illustration
      Lock icon Thai junta chief could be PM till elections
      566 15 Reuters [BANGKOK] Thailand’s junta chief could stay in charge of the country as head of a provisional government until elections are held some time next year, a legal adviser said yesterday, outlining details of an interim constitution. A member of the ruling
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    • Article
      Lock icon Thai rice production to fall on drought, subsidy lapse
      619 15 Output may drop 10% to about 34m tonnes in 2014-2015 Bloomberg [BANGKOK] Rice production in Thailand will probably shrink to a five-year low as drought hurts yields and farmers curb planting after the end of a subsidy programme, according to the
      Bloomberg  -  619 words
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      Lock icon US Fed, not ECB seen moving the euro
      982 16 Currency is also losing its link with the continent’s bond market WP [NEW YORK] Mario Draghi’s ambitions to weaken the euro are at the mercy of Federal Reserve chairwoman Janet Yellen. The US central bank chief sent the euro sliding below US$1.35
      WP; PHOTOS: BLOOMBERG  -  982 words
    • Article
      Lock icon Australia’s core inflation rate higher than expected
      427 16 Reuters [SYDNEY] Australian consumer prices rose only modestly last quarter but a surprisingly high reading for a key gauge of underlying inflation was enough to dent market speculation of future rate cuts and lift the local dollar. The main offender was the trimmed
      Reuters  -  427 words
    • Article
      Lock icon Regulators to overhaul setting of benchmarks
      414 16 Rates should be based on actual trade data rather than employees’ estimates, says FSB Bloomberg [BRUSSELS] Global regulators set out plans to overhaul the way that key financial benchmarks are calculated as they try to re-establish confidence in key market rates tarnished by manipulation
      Bloomberg  -  414 words
    • Article
      Lock icon DuPont sees no respite from weak farm sales in Q3
      516 16 Reuters [WILMINGTON] DuPont, the world’s second-largest seed maker, said that its agriculture business would not improve in the current quarter as it struggles to cope with farmers’ preference for soya bean rather than corn, the mainstay of the business. The
      Reuters  -  516 words
    • Article
      Lock icon IMF sees lower US growth in next few years
      591 17  -  Ageing population, slower productivity growth cited By ANTHONY ROWLEY in Tokyo THE US economy is likely to perform “significantly below the historic average” over the next several years with growth forecast to average just above 2 per cent in that period,
      591 words
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      Lock icon China helps Apple lift latest profit to US$7.7b
      488 17 AFP [SAN FRANCISCO] Apple’s quarterly profit climbed with strong demand for iPhones, particularly in China where the California company’s revenue surged. The only damper in strong earnings reported on Tuesday was a decline in iPad tablet sales. The California-based company posted a
      AFP; PHOTO: BLOOMBERG  -  488 words
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      Lock icon TransAsia Airways plane crashes in typhoon-hit Taiwan
      565 17 More than 40 people are feared dead, 10 bodies recovered AFP [TAIPEI] More than 40 people were feared dead in a plane crash in Taiwan yesterday, officials said, with witnesses and local media reporting the flight came down in a storm after an
      AFP; PHOTO: AFP  -  565 words
    • Article
      Lock icon Angry Bitcoin investors want answers
      404 17 AFP [TOKYO] Bitcoin investors voiced anger yesterday after the first creditors’ meeting for failed Tokyo trading exchange MtGox, whose spectacular collapse hammered the digital currency’s reputation and left a trail of unanswered questions. More than 100 investors, mostly expatriates, attended the meeting at a courthouse
      AFP  -  404 words
    • Article
      Lock icon Swiss Bank EFG sets aside 21.4m francs for US tax plan fine
      374 17 Bloomberg [GENEVA] EFG International AG, the Swiss bank controlled by billionaire Spiro Latsis and his family, said it set aside 21.4 million Swiss francs (S$29.8 million) to pay a penalty to US authorities probing tax evasion. That amount
      Bloomberg  -  374 words
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      2056 13 The Business Times Ik T I 1 I TolI free 1800-289-8822 fl I I Email notices@sph.com.sg I V i j L J www.sphclass.com.sg/notices IN THE MATTER OF SECTION 290 OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF KENNEDY CONSULTANCY SERVICES PTE LTD (Co. Reg. No: *****4254D) (“the
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      60 15 0 P E R T Y W BEDAZZLED BUCK&WhJ 'o e S;^ 0 H rn d s w s ™S5fd*i^S$ tar FATTEN VIEW crui r> Sj 5oo 0 Detach Ke°„ Uief 'C° n ve4^'r CENTRAL HOUSES FOR RENT Check this and many other properties in The Straits Times Classified now!
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      21 16 Now on PC, iPad Android COME SAIL AWAY Ask your local bookshop or get your copy by subscribing today Visitwww.asia-pacificboating.comor emailsub@bluincmedia.com
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      39 16 MORE IITs IIMs OR BETTER IITs IIMs? Alumni in Singapore debate this question Seeram Ramakrishna in global list of most influential scientific minds GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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      Lock icon Page 17 Advertisements Column 1
      123 17 The Foundation of Career Success Productivityand Innovation Credit (PIC) Claimable 201 4 JU LY SE RI ES J U L 1 4 31THURSDAY SPH News Centre 9 30 am t o 6 00 p m Trainer Pamela Wigglesworth Lifecycle Marketing Create a Marketing Campaign to Build Relationships With Prospects What
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  • EDITORIAL & OPINION
    • Article
      Lock icon Indonesia faces prospect of positive change
      513 18 EDITORIAL THE victory of Joko “Jokowi” Widodo in the justconcluded presidential election in Indonesia offers the promise of constructive change in South-east Asia’s largest country although it is more likely to be incremental than radical, at least for now. Politically, Mr Joko’s victory is
      513 words
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      Lock icon US June jobs figures may be part-timer boom or blip
      759 18  -  THE BOTTOM LINE ROBERT SAMUELSON The Washington Post Writers Group THERE may be a dark lining to the sunny June employment report, which recorded an increase of 288,000 payroll jobs for the month. Most or all of the increase may
      The Washington Post Writers Group  -  759 words
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      Lock icon Could a disruption of Iraqi oil hurt China?
      1116 18  -  Depends on interplay between becoming more energy-efficient and Asian trade integration By STEFAN HOFER The writer is Bank Julius Baer’s emerging markets strategist, based in Hong Kong CCORDING to BP, in 2013 the United States consumed the equivalent of 18.9 million barrels
      PHOTO: REUTERS; BT Graphics, Source: HSBC, Julius Baer; BT Graphics, Source: Barclays, Julius Baer  -  1,116 words
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      Lock icon The disgrace of appeasement
      926 19  -  To see the European Union acting so pusillanimously towards Putin is very discouraging By BERNARD-HENRI LÉVY NYT IN EASTERN Ukraine, Vladimir Putin has been playing with fire. He has mobilised the worst elements to be found in the region. He has taken thugs, thieves, rapists, ex-cons
      NYT; PHOTO: REUTERS  -  926 words
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      Lock icon The tech-equipped will get ahead in financial world
      768 19  -  By HARRY SINGH The writer is vice-president, global banking and financial markets, AMEA, BT Global Services THE growing speed and complexity of today’s financial markets is placing all but the most technologically wellequipped industry players at a strategic disadvantage. All are struggling
      768 words
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      Lock icon It wasn’t a ‘Great War’ at all for Asians and Africans
      1037 19  -  By HARISH MEHTA The writer, a former BT senior correspondent, is a historian who has taught at Canadian universities HOW should Asians and Africans remember the First World War? One hundred years after it was waged from 1914-1918, this
      PHOTO: REUTERS  -  1,037 words
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  • AVIATION
    • Article, Illustration
      Lock icon Changi passenger traffic dips in June
      450 20  -  For H1, traffic is up 1.4% despite drops in arrivals from China, Thailand By NISHA RAMCHANDANI nishar@sph.com.sg @Nisha_BT PASSENGER traffic at Changi Airport has shrunk a tad dipping 0.3 per cent year on year to 4.65 million in June after decelerating growth in recent
      FILE PHOTO  -  450 words
    • Article
      Lock icon Singapore-based airlines asked to review conflict zone risk assessment
      700 20 Reuters [SINGAPORE] The Republic’s civil aviation authority has asked airlines based in the city-state to review their risk assessment of conflict zones following the shooting down of a Malaysia Airlines jetliner over Ukraine last week. The deaths of nearly 300 passengers
      Reuters  -  700 words
    • Article
      Lock icon UN aviation body said to be mulling over bigger role
      385 20 Reuters [MONTREAL] Representatives to the UN civil aviation body are considering whether the agency should expand its role and issue safety advisories after a Malaysian airliner was shot down last week, two sources said on Tuesday. But the sources said
      Reuters  -  385 words
    • Article
      Lock icon TRANSPORT STOCKS
      247 20 SGX '000 Jul 23 S$ +/-Vol Ch Offshore 0.46 0.01 242 Chuan Hup Hldg 0.29 0.01 235 Cosco Corp 0.71 0.01 918 Cwt Limited................1.70 -0.02 985 Ezra Hldgs 1.19 unch 2690 First Ship Lea 0.09 unch 239 Grand Banks 0.27 -0.01 44 Jaya Hold Ltd 0.01 K1Ventures.................0.22 0.01
      247 words
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      Lock icon India’s Jet eyes profit by ’17 with boost from Etihad
      492 20 AFP [NEW DELHI] Jet Airways, India’s second-biggest carrier, forecast yesterday a return to profit in three years through cost-cuts, route-sharing with new partner Etihad Airways and restructuring of hefty debt. The publicly traded airline, which has not posted an annual
      AFP; PHOTO: AFP  -  492 words
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  • Page 20 Miscellaneous
    • Miscellaneous
      Lock icon Page 20 Miscellaneous Column 1
      314 20 CRYPTIC CROSSWORD Across 1 Having become suddenly interested, son exercises (3-3) 4 In pairs, making four (3,2,3) 10 Concealed, group meeting after reverend’s last service (6,3) 11 Rex lends a hand in more than one attack (5) 12 Wilt, when lead’s lost, causing anxiety (7) 13 Jinx a reportedly spent
      314 words
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  • Article
    Lock icon SHIPPING TIMES
    1201 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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      79 21 Experienced sh/p maintenance findyou y r 4 i services services wanted, h««hthe Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 The Business Times mt uujiinljj umtj SHIPPING TIMES Legal services required by shippers owners TO ADVERTISE, CALL JOE WONG AT 9620 Can they find your services here in
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      4054 22 Transaction date: Jul 23 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 13.3 10.4 8Telecom Day Last Quote --AAT Net M Cap High 158.4 130.4 AIMSAMP Cap Reit 146.5 +0.5 198
      4,054 words
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      Lock icon SGX CATALIST
      381 23 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 32.5 23 t 3Cnergy 500 Vol Day Last Quote Div Gr Yld Net M Cap High Low Company Sale (‘000) High Low Buyer Seller
      381 words
    • Article
      Lock icon UNIT TRUST & FUNDS
      10375 23 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** APS Alphc Aberdeen Asset Mgt Asia Limited 1.58/ APS Alpha Fund (USD)!* 1.27/ Aberdeen Asset Mat Asia Limited China Opportunities USD!** Global Emerging Markets USD ’’nsl" Global Opportunities USD India Opportunities USD!** China Opportunities 1
      10,375 words
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      Lock icon GLOBALQUOTE
      232 23 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 Company 343 224 TanChongInt HK320 320 328 9.7 3.3 3.1 6444.5 DISCLAIMER: All information is published “as is” without warranty of any kind and for information
      232 words
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      Lock icon SGX ETF
      1124 23 52-Wk Last Vol Day Last Quote Div GrYld Net MCap High Low Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 116 108.3 ABF SG Bond ETF 116 18 116 116 115 116 529.5 135.5 119 CIMB APAC Div 100S$D 132 -0.4 6 132 132 132.5 135
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      656 24 Jul 23 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.16 *****.20 *****.37 Sep14 *****.00 *****.00 *****.00 *****.00 ***** *****6 Dec14 *****.00 0 ***** MSCI TAIWAN INDEX FUTURES SPOT 341.65 343.66 340.27 Jul14 342.80 345.10 342.80 ***** *****8 Aug14 340.70 342.60 340.70 6179 *****
      656 words
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      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 24 In local curr In S$ In US$ dy yr dy yr dy yr Jul 22 Index Change Change Change Change Change Change World Preliminary 1245.8 0.7 5.2 0.6 3.5 0.7 5.4 EAFE Preliminary 972.5 1.0 1.7 0.7 0.6 0.8 2.4 Europe Preliminary 1392.1 1.2 2.7
      373 words
    • Article
      Lock icon INTERBANK CROSS RATES
      471 24 Jul 23 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.012 5.859 0.702 7.323 56.819 108.782 0.958 9.675 2.994 1.087 93.223 40.844 1.171 9.946 0.853 28.313 30.023 0.553 0.945 Canada 0.988 5.787
      471 words
    • Article
      Lock icon SIBOR
      37 24 Jul 23 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) 1 mth 1 mth 3 mths 6 mths 6 mths Source: Thomson Reuters
      37 words
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      Lock icon GOVERNMENT SECURITIES
      80 24 Jul 23 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 1-Year BY*****S 02-May-15 0.34 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0W 1.125 01-Apr-16 101.22 5-Year NX*****W 2.5 01-Jun-19 106.39 106.60 106.42 10-Year NX*****H 2.750 01-Jul-23 104.09 104.20
      80 words
    • Article
      Lock icon PRECIOUS METALS
      120 24 Jul 23 GOLD(US$/oz) Jul 23 Jul 22 Hong Kong 1309.00 1308.00 Jul 22 Jul 21 London 1305.42 1312.78 1306.08 1313.56 Source: Thomson Reuters CAST BAR Jul 23 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 78 50 5gm 312 258 10gm 581 518
      120 words
    • Article
      Lock icon PALM OIL
      59 24 Jul 23 Jul 23 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 14 2365.0 2342.0 2365.0 2330.0 558 4626 Sep 14 2311.0 2283.0 2311.0 2271.0 6730 ***** Oct 14 2278.0 2255.0 2278.0 2247.0 ***** ***** Nov 14
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 24 Jul 23 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1704 1.1710 0.9445 0.9449 Canadian dollar 1.1563 1.1565 0.9332 0.9331 Euro 1.6677 1.6681 1.3458 1.3460 NZ dollar 1.0769 1.0773 0.8690 0.8693 Sterling pound 2.1178 2.1182 1.7090 1.7092
      155 words
    • Article
      Lock icon CHICAGO BOT
      109 24 Jul 22 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Aug 14 1184.00 1175.75 1196.50 1172.75 Sep 14 1085.00 1091.50 1105.00 1084.25 Nov 14 1057.75 1071.50 1081.75 1057.00 Jan 15 1065.75 1079.75 1089.50 1064.50 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Aug 14
      109 words
    • Article
      Lock icon LIFFE
      95 24 Jul 22 COCOA (£/tonne) Close Prev High Low Sep 14 1958 1948 1959 1941 Dec 14 1925 1920 1929 1915 Mar 15 1910 1903 1915 1898 May 15 1898 1892 1903 1886 COFFEE(US$/tonne) Close Prev High Low Jul 14 1998 2025 2021 1997 Sep 14 1993 2015 2018 1984
      95 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      946 24 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 4.6 0.3 1 -59 4.09 48 Asia-Pacific Strategic W*****6 3.8 0.1 ***** 1 2 58 Acma Ltd W*****7 Exer Price Asiatic Grp(Hldgs) Ltd W*****5 Disc Asiatravel.com HoldingsW*****5 6
      946 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 24 CRUDE OIL PRODUCTS Jul 22 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 107.50 0.46 WTI (Near Mth) 104.16 -0.75 Dubai (1-Mth F) 105.59 1.19 Tapis blend 110.07 0.52 Minas 105.87 0.72 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 106.61 1.22 Jet Kerosene 118.35 0.95 US$/barrel OpecOil Basket
      70 words
    • Article
      Lock icon US$/S$ FORWARD RATES
      22 24 Jul 23 S$ Bid Offer 1-month 1.2392 1.2393 2-months 1.2392 1.2393 3-months 1.2391 1.2393 6-months 1.2390 1.2391 Source: OCBC
      22 words
    • Article
      Lock icon LONDON METALS
      66 24 Jul-22 Jul-22 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2024.75 2003.25 3 months 2043.00 2020.00 Copper, Grade A(US$/tonne) Cash 7037.50 7029.75 3 months 7040.00 7025.00 Lead(US$/tonne) Cash 2201.50 2184.50 3 months 2216.50 2203.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3 months
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      Lock icon FOREIGN CURRENCY NOTE RATES
      121 24 As at 9am Jul 23 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.190 1.134 Can dollar 1.176 1.131 Euro 1.708 1.627 Sterling pound 2.154 2.072 NZ dollar 1.100 1.058 US dollar 1.265 1.205 Local dollars to 100 units of foreign
      121 words
    • Article
      Lock icon INTERBANK RATES
      158 24 Jul 23 $S Offer Bid 0vernight 0.02 par 1-month 0.3125 0.1875 2-months 0.3750 0.2500 3-months 0.4375 0.3125 Overnight mode: 0.03 US$ Offer Bid 7 days 0.18 0.08 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
      158 words
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  • PROPERTY
    • Article, Illustration
      Lock icon Verizon slims down, delighting developers
      857 25 It has sold over US$1 b in buildings whose use are then converted NYT [NEW YORK] In the mer-ry-go-round of redevelopment projects in New York where office buildings turn into apartment houses, and factories into offices, and so on a utility company has become a
      NYT; PHOTO: BLOOMBERG  -  857 words
    • Article
      Lock icon Househunt
      1751 25 PROPERTY TRANSACTIONS FOR DISTRICTS 1 TO 19 WITH CONTRACT DATES BETWEEN JUNE 11 AND JUNE 17, 2014 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED V On Shenton Apt 16/06/2014 99 452 1078 2384 District 3 NON-LANDED
      1,751 words
    • Article, Illustration
      Lock icon US home-rental industry is reshaping itself
      1168 26 Small landlords exit market while corporate owners sell houses in bulk Bloomberg [NEW YORK] Alexander Philips joined the rush to buy foreclosed US homes four years ago, spending US$40 million on houses in California and Nevada to operate as rentals. Now his firm, Twinrock
      Bloomberg; PHOTO: BLOOMBERG  -  1,168 words
    • Article
      Lock icon Russia turns Olympic site, Crimea into casino zones
      429 26 It is hoped that the move will boost their development AFP [MOSCOW] Russia has designated Sochi’s Olympic site and the annexed Crimean peninsula as gambling areas yesterday, in a bid that casino revenues will boost their development. Under the law signed by
      AFP  -  429 words
    • Article
      Lock icon Mitsubishi Estate credit rating cut by Moody’s to A2
      233 26 Reuters [TOKYO] Mitsubishi Estate Co’s credit rating has been lowered by one notch to A2 by Moody’s Investors Service, on concern that Japan’s largest developer by market value is less likely to reduce debt after announcing plans to increase investment. Mitsubishi
      Reuters  -  233 words
    • Article, Illustration
      Lock icon Top-end HK properties not affected by cooling measures
      1283 27 Prices remain roughly the same though number of transactions drop NYT [HONG KONG] When the Opus project was unveiled in 2012, its developer boasted that the apartments there, designed by star architect Frank Gehry, would be the most expensive in Hong Kong
      NYT; PHOTO: BLOOMBERG  -  1,283 words
    • Article
      Lock icon Home and office project at Canary Wharf gets approval
      228 27 Bloomberg [LONDON] Canary Wharf Group plc won local-government approval to build as many as 3,610 homes and office space adjacent to London’s Canary Wharf business district. The council for the Tower Hamlets borough voted in favour of the Wood Wharf project
      Bloomberg  -  228 words
    • Article, Illustration
      Lock icon Chinese banks to offer discounted rates: poll
      719 28 Over half expect the central bank to ease its lending restrictions MORTGAGE RATES Bloomberg [BEIJING] Chinese banks will probably offer discounted mortgage rates to their clients in the second half of this year as demand in the country’s housing market weakens, according to
      Bloomberg; PHOTO: REUTERS  -  719 words
    • Article
      Lock icon 2 big Australian banks cut fixed mortgage rates
      371 28 Reuters [SYDNEY] Two of Australia’s biggest banks cut their fixed-rate home loans yesterday in a move analysts said reflected lower borrowing costs and expectations that the Reserve Bank of Australia will keep rates at record lows. Commonwealth Bank of Australia (CBA), the
      Reuters  -  371 words
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      Lock icon Page 26 Advertisements Column 1
      26 26 Residents to move out by end of 2016 for Dakota area to undergo estate renewal 4%!7 gK2016^Bfiii)Sa 25+.,#$)’60 To subscribe, call 6388-3838 or go to sphsubscription.com.sg
      26 words
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      Lock icon Page 26 Advertisements Column 2
      186 26 o V Commercial. Foreigners eligible to purchase Telok Ayer Tanjong Pagar MRT Stations Options available for single unit purchase LI WSt I’ m m 77/78/79/SO AMOY STREET 60 62 IRAS STREET 3-Storey with Attic Prime Refurbished Shophouses 999-year tenure Total Site Area: Approx. 8,182 sq ft Total GFA: Approx. 23,814
      186 words
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      Lock icon Page 26 Advertisements Column 3
      65 26 PRIME RETAIL SPACE FOR SALE savills 190 Toa Payoh Lorong 6 Amidst bustling Toa Payoh Central HDB Hub Strategically positioned near MRT Station and Bus Interchange Rarely available and highly sought-after Strata area: approx. 5,780 sq ft Tenanted to established retailers Very high foot traffic whole year round Closing Date:
      65 words
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      Lock icon Page 27 Advertisements Column 1
      260 27 EXPRESSIONS OF INTEREST BULK SALE OF 100% PRIME D10 RESIDENTIAL DEVELOPMENT Steven Ming Donald Goh 9004 0518 9690 9541 CEA Reg. No. R*****3B CEA Reg. No. R*****5B savills.com.sg Unique Conservation Shop houses For Sale m ’HruiTr Keong Saik Bukit Pasoh Tanjong Pagar Rare freehold, 3% yield F&B area, MRT at
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      Lock icon Page 27 Advertisements Column 2
      248 27 FOR SALE /RENT FOR SALE WITH TENANCY SHOPS AT BUGIS CUBE Located at70 North Bridge Road, *****6 SHOPS AT CONCORDE SHOPPING MALL Located at 100 Orchard Road, *****0 2 units (Level 2, Level 3) 366 sq ft each View to offer Suitable for Dental Medical Clinic with water point Directly
      248 words
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      395 28 PHASE 2 NEW Jurong Lake District Master Plan Model available for Viewing! VISION E X C H A N G E Acquire a Distinct Office Asset in the Heart of Jurong Gateway Offices from 441 sqft Medical Suites from 301 sqft F&B Units from 517 sqft Direct link to Jurong
      395 words