The Business Times, 28 August 2014

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Microfilm: NL33222
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) 051/08/2014 Thursday, August 28, 2014
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  • Article, Illustration
    Lock icon Straco could snap up Singapore Flyer today
    627 1  -  Market talk has been swirling for months, bumping up its share price 84% By CAI HAOXIANG By haoxiang@sph.com.sg @HaoxiangCaiBT [SINGAPORE] The Singapore Flyer might have found a new owner, a year after financial troubles forced the iconic attraction to be put up for
    PHOTO: ALPHONSUS CHERN/THE STRAITS TIMES  -  627 words
  • Article, Illustration
    Lock icon Audit study throws up S$34b of proposed fixes
    779 1  -  Almost two-thirds are accepted by firms; expenses are the most frequently adjusted By MICHELLE QUAH michquah@sph.com.sg @MichelleQuahBT [SINGAPORE] For the first time, investors and other stakeholders now have a sense of just how accurate the financial statements of listed companies were before
    Source: Acra, SMU  -  779 words
  • MARKETS DIGEST
    • Article
      Lock icon FOREX
      65 1 GST INDEX 3,341.46 (+18.44) GST INDEX FUTURES 3,341.00 (+18.00) GSIMSCI 379.78 (+1.92) GSIMSCI FUTURES 380.00 (+1.60) US$ S$ US$ (S$ per US$) 1.247 (US$/S$ per 1.657 2.067 EURO (US$/S$/€ 1.319 1.645 Foreign currency per US$ S$ YEN 103.90 83.30 RM 3.149 2.524 HK$ 7.750 6.213 BAHT 31.92 25.58 RUPIAH
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    • Article
      Lock icon MARKETS
      49 1 Wednesday Change KL COMP 1,872.38 +10.56 NIKKEI 225 15,534.82 +13.60 HANG SENG 24,918.75 -155.75 SET INDEX 1,564.58 +4.41 JAKARTA COMP 5,165.25 +18.70 MANILA COMP 7,160.46 +14.11 SEOUL COMP 2,074.93 +6.88 SHENZHEN B 935.69 +4.62 MUMBAI IND 26,560.15 +117.34 12 noon EDT Change DOW 17,119.67 +12.97 NASDAQ 4,572.29 +1.65
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    • Article
      Lock icon PRIME RATES
      21 1 SINGAPORE 5.35 HONG KONG 6.55 HONG KONG 5.00 INDONESIA KOREA TAIWAN 5.036 JAPAN 1.475 SWITZERLAND 9.33 BRITAIN Source: Bloomberg
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      140 1 S’PORE-M’SIA TIES Agrobazaar in Kampong Glam opens with durian diplomacy page 3 PROPERTY Mapletree snaps up US property for US$70m PAGE 27 MALAYSIA AIRLINES Employees brace for job cuts PAGE 20 COMPANIES Sweet spot for S’pore dollar bonds PAGE 4 Official! let ONE MAN, ONE MACHINE. G.RM.H. 60 'C*' >
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      1 1 8"*****1"*****4
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  • TOP STORIES
    • Article, Illustration
      Lock icon IMF chief under French probe for negligence
      599 2 Case linked to arbitration payout when she was finance minister NYT [PARIS] Christine Lagarde, the head of the International Monetary Fund (IMF), said on Wednesday that French prosecutors had placed her under formal investigation over a murky business affair that dates back to
      NYT  -  599 words
    • Article, Illustration
      Lock icon Global equities reach record US$66 trillion as S&P 500 hits 2,000
      735 2 Bloomberg [LONDON] Rallies from Brazil to Japan and the Standard Poor’s 500 Index’s first trip above 2,000 have sent the value of global equities to a record US$66 trillion. Shares worldwide added more than US$2.2 trillion in value since
      Bloomberg; PHOTO: AFP  -  735 words
    • Article
      Lock icon THREE-MINUTE DIGEST
      413 2 Audit study throws up S$34b of proposed fixes INVESTORS now have a sense of just how accurate the financial statements of listed companies were before they were audited, and how much these accounts had to be adjusted. FRONT PAGE Straco could snap up Singapore Flyer today THE Singapore
      413 words
    • Article
      Lock icon Continued anaemia in Japan’s economy a concern in govt
      663 2  -  A delay in raising the consumption tax again may worsen things, say analysts B)’ ANTHONY ROWLEY in Tokyo CONCERNS are growing that Abenomics may fail to pull the world’s third-larg-est economy out of its prolonged stagnation, despite efforts by the Japanese
      663 words
    • Article
      Lock icon Growth in services sector sales cools in Q2
      444 3  -  Quarter on quarter, business receipts stayed roughly the same level as in the past two quarters By CHUANG PECK MING peckming@sph.com.sg [SINGAPORE] Takings in the business services sector in the second quarter continued to grow slower year on year, says the latest
      444 words
    • Article, Illustration
      Lock icon Agrobazaar opens in Kampong Glam – with durian diplomacy
      615 3  - Agrobazaar opens in Kampong Glam with durian diplomacy Malaysian PM Najib gives PM Lee the spiky fruit; both sides affirm strong ties By LEE U-WEN leeuwen@sph.com.sg @LeeUwenBT [SINGAPORE] Just as they did at their last retreat in Putrajaya in April, the leaders of Singapore and Malaysia engaged in a dose
      PHOTO: REUTERS  -  615 words
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      80 3 ICONS RARELY COME IN PAIRS. THE NEW BMW M3 SEDAN BMW M4 COUPE. The most dynamic and precise cars ever built bring you the perfect harmony between man, engine and road. Be one with the machine. For a test drive, call Munich Automobiles at 6899 6996 or visit munichauto.com.sg Munich
      80 words
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon Acra adopts more risk-based approach to audit inspection
      408 4  -  It will also require firms to analyse the root causes of audit deficiencies and implement action plans By MICHELLE QUAH michquah@sph.com.sg @MichelleQuahBT SINGAPORE’S Accounting and Corporate Regulatory Authority (Acra) has changed the way it inspects the public accountants under its charge making
      408 words
    • Article, Illustration
      Lock icon Sweet spot for S’pore dollar bonds
      770 4  -  Strong currency and high yields continue to drive demand By SIOW LI SEN lisen@sph.com.sg @SiowLiSenBT INVESTORS’ love affair with local bonds shows no sign of letting up as they continue to bask in a sweet spot. Driven by a strong Singapore dollar (SGD) and
      Source: Bloomberg  -  770 words
    • Article
      Lock icon Absence of one-time gain hits Hafary
      187 4 THE lack of one-time disposal gains dragged tile supplier Hafary Holdings' full-year earnings to a 64 per cent drop despite better sales. Hafary posted net profit attributable to equi-ty-holders of S$8 million, or 1.88 cents per share, for the year ended June 30, 2014.
      187 words
    • Article
      Lock icon CPFIS funds post 3.73% Q2 gain
      494 5  -  But globally, funds are experiencing net outflows so far this year: Lipper By CAI HAOXIANG haoxiang@sph.com.sg @HaoxiangCaiBT THE roughly 300 investment funds approved by the Central Provident Fund (CPF) continued to do well this year amid liquidity from central banks and low volatility. The
      494 words
    • Article
      Lock icon Wilmar ‘devoting a lot’ of resources to sustainability
      444 5  -  CEO: Need for ‘other big stakeholders’ to support deadline By ANDREA SOH sandrea@sph.com.sg @AndreaSohBT The end-2015 deadline for Wilmar International’s suppliers to comply with its new sustainability policy is ambitious, its CEO and chairman Kuok Khoon Hong conceded, but can be achieved
      444 words
    • Article
      Lock icon OCBC in talks with Thai firm to sell UE stake
      97 5 OCBC Bank and its insurance arm, Great Eastern Holdings, have agreed to exclusively discuss a sale of their stakes in United Engineers (UE) and WBL Corporation with a company controlled by Thai tycoon Charoen Sirivadhanabhakdi and his wife, Khunying Wanna
      97 words
    • Article
      Lock icon SBI in talks for rig orders from Mid-East
      275 5  -  By MALMINDERJIT SINGH msingh@sph.com.sg @MalminderjitBT CATALIST-LISTED SBI Offshore is in talks with a Middle Eastern-Chinese consortium to build five jack-up drilling rigs. SBI revealed on Wednesday that this consortium is the same one for which its subsidiary had won a contract to
      275 words
    • Article, Illustration
      Lock icon India hedge funds perform best on Modi factor
      872 7 They are heading for strongest return in five years after Modi’s election win Bloomb erg [SINGAPORE] Hedge funds investing in India have become the world’s best performers this year on expectations that Prime Minister Narendra Modi will revive Asia’s third largest economy.
      Bloomberg  -  872 words
    • Article
      Lock icon Grand Banks breaks loss spell; eyes exit from watch-list
      361 7  -  By MALMINDERJIT SINGH msingh@sph.com.sg @MalminderjitBT TROUBLED luxury boat maker Grand Banks Yachts has turned around from its five-year loss streak, reporting yesterday a full-year net profit of S$1.03 million, against the preceding financial year’s S$5.2 million deficit. It also plans to
      361 words
    • COMPANY BRIEFS
      • Article
        Lock icon Civmec Q4 profit up 25.4% at S$11.59m
        113 7 CIVMEC posted a 25.4 per cent increase in net profit to S$11.59 million for the fourth quarter, up from S$9.24 million a year ago, on the back of a two-fold jump in revenue over the period, thanks to good momentum in existing contracts.
        113 words
      • Article
        Lock icon PEC’s Q4 earnings drop 27%
        126 7 ENGINEERING group PEC’s net profit for the fourth quarter ended June 30 fell 27 per cent to S$3.68 million from S$5.06 million due to higher tax and expenses and a fall in other operating income. Revenue slipped 16 per cent to S$122.49 million from S$
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      380 4 This Advertorial Is Presented To You By 33 Auction HEAD TO THIS AUCTION TO HUNT FOR SOUTHEAST ASIAN TRIBAL ART! Southeast Asia is a diverse region, and collectors’ interest in the tribal art of this region has been growing steadily over the years. But with Southeast Asia developing at breakneck
      380 words
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      334 5 LIVING 180 UNIVERSITY TORONTO TORONTO.CANADA PRIVATE ESTATES Enjoy Shangri-La’s hospitality at your doorstep GUARANTEED I Price starting from RENTAL RETURNS 879,204 CAD < MAP OF DOWNTOWN TORONTO 8 z FOR THREE YEARS z Z Z z z z z •a. LU QUEENS PARK l5l UNIVERSITY OF TORONTO Of LIVING 180
      334 words
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  • SINGAPORE MARKETS
    • Article, Illustration
      Lock icon STI gains on S&P 500’s milestone
      615 6  -  But thin volumes continue to plague the local market with only S$904 million traded STOCKS ANITA GABRIEL anitag@sph.com.sg @AnitaGabrielBT Senior Correspondent IT was the magic milestone of 2,000 the never-seen-before level that the US’ S&P 500 bolted to overnight Tuesday on upbeat macro news
      Source: Bloomberg  -  615 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 6 Aug 27 VALUE CLOSE BT OB/OS 63.00 +13.00 BT CADI -*****.00 +27.00 BT 10-day MA -*****.00 +6.00 FTSE ST Mid Cap 778.94 +2.47 FTSE ST Small Cap 554.44 +1.06 FTSE ST All Share 812.12 +3.98 FTSE ST China Top 199.05 +0.50 FTSE ST China 230.84 +0.48 FTSE
      77 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 5 2 0 0 0 8 5 2 Manufacturing 44 45 36 8 8 7 52 53 43 Commerce 19 20 19 6 9 2 25 29 21 Tpt/Stor/Comms 19 15 9
      186 words
    • Article
      Lock icon BROKERS’ TAKE
      1022 6  -  Compiled by TEH SHI NING Neptune Orient Lines Aug 27 close: S$1.015 CREDIT SUISSE SECURITIES RESEARCH ANALYTICS, Aug 27 WE have raised our rating from Underperform to Outperform for Neptune Orient Lines (NOL) as we observe the liner shipping sector displaying the same characteristics as it did in
      1,022 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 6 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 18,732 18,732 66,342 66,342 Manufacturing 390,759 72,342 463,101 147,009 14,341 161,350 Commerce 134,810 63,171 197,981 96,410 3,010 99,421 Tpt/Stor/Comms 191,420 29,941 221,361 119,967 5,598 125,566 Finance 29,609 192 29,801 133,599 40 133,639 Construction 20,308 11,102
      123 words
    • Article
      Lock icon STRAITS TIMES INDEX STOCKS
      122 6 Stock name Close Change Ascendas Reit 2.340 +0.010 CapitaLand 3.360 CapitaMall Trust 2.010 +0.015 CityDev 10.290 +0.090 ComfortDelGro 2.530 -0.010 DBS Grp 17.960 +0.130 Genting Sing 1.245 +0.035 Global Logistic 2.890 +0.030 Golden Agri-Res 0.520 +0.005 HPH Trust USD 0.710 -0.005 HongkongLand USD 7.030 -0.020 JMH
      122 words
    • Article, Illustration
      Lock icon Euro weak in Asia as US$ stays firm
      390 6 CURRENCIES AFP [TOKYO] The euro sat around its lowest levels against the US dollar in nearly a year in Asia on Wednesday, with investors betting on fresh easing measures from the European Central Bank (ECB) while the greenback was boosted by upbeat
      AFP; PHOTO: BLOOMBERG; PHOTO: AFP  -  390 words
    • Article
      Lock icon MOST ACTIVE STOCKS
      59 6 VOLUME Jaya 123,492,000 JES Intl 95,560,000 IHC 79,193,000 APAC Strategic 67,152,000 Weiye 66,572,000 STATS ChipPAC 59,590,000 Envictus 45,341,000 Genting Sing 38,628,000 Digiland Intl 35,200,000 Mirach Energy 35,045,000 VALUE($) Genting Sing 47,309,938 SingTel 44,615,090 OCBC Bank 43,689,880 DBS Grp 43,577,780 OSIM Intl 41,881,920 STATS ChipPAC 38,615,415 Global Logistic
      59 words
    • Article
      Lock icon RISES
      122 6 BY CENTS CLOSE UP DBXT iBoxxKR 5US$ ***** 178.4 0.9 DBXT Nifty 10US$ ***** 173.4 1.0 IS S&P500 ***** 112.3 0.4 DBXT AUDCS 5US$ ***** 101.0 0.4 JMH 400 USD 6034 72.4 1.0 DBXT AUDCS 5SG$ ***** 64.0 0.3 SPDR DJIA 10US$ ***** 61.1 0.3 DBXT E50 10US$ 5254
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    • Article
      Lock icon FALLS
      120 6 BY CENTS CLOSE DOWN GLD 10US$ ***** -25.0 -0.2 DBXT FTChina25 10US$ 3265 -20.0 -0.5 DBXT USDIGInfl 5US$ ***** -11.2 0.0 Lyxor China H 10US$ 1521 -11.2 -0.6 WCorp 58.5 -10.5 -15.2 OSIM Intl 274 -8.0 -2.8 DBXT MSCHINA 10US$ 1369 -7.5 -0.4 UIC 334 -6.0 -1.8 Intraco 41
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      Lock icon FTSE CATALIST INDEX
      4 6 DAILY
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  • SINGAPORE NEWS
    • Article, Illustration
      Lock icon S’pore a step nearer driverless vehicles
      652 8  -  Body set up to look into R&D for such vehicles and using these for intra-town travel By NISHA RAMCHANDANI nishar@sph.com.sg @Nisha_BT IT MIGHT sound like something out of a science-fiction movie, but Singapore is looking into deploying driverless vehicles to make towns car-free, though
      PHOTO: NTU  -  652 words
    • Article
      Lock icon Paving way for S’pore businesses into Africa
      293 8  -  By JAN LEE janlee@sph.com.sg SINGAPORE’S relationship and economic ties with Africa are expected to be boosted by the Africa Singapore Business Forum (ASBF) which kicked off on Wednesday. The third edition of the ASBF saw the launch of the Centre for African Studies
      293 words
    • Article
      Lock icon Managers here more upbeat about firms’ prospects than 2 years ago: poll
      513 8  -  By MINDY TAN tanmindy@sph.com.sg @MindyTanBT SINGAPORE managers are more optimistic about their organisations’ business prospects compared with two years ago, according to the latest SIM Management Monitor. Of the more than 1,000 Singa-pore-based managers polled in June this
      513 words
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      169 8 SOCIAL MEDIA SELLING BOOTCAMP Social selling for SMEs to acquire leads, stand out in the market and generate more sales. WHY YOU SHOULD ATTEND; Reach B2B decision-makers through new and existing connections on social media Engage Millennial (or Generation Y) by sharing photos and videos on social media Manage, monitor
      169 words
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  • MALAYSIA/INDONESIA
    • Article
      Lock icon Bumi Armada shares tumble on rights issue price
      588 9  -  Pricing seems to imply steep discount to valuations By S JAYASANKARAN in Kuala Lumpur BUMI Armada shares tumbled over 7 per cent on Wednesday to RM3.03 (S$1.20) apiece after the oilfield services firm informed the stock exchange that it had fixed RM1.35
      588 words
    • Article
      Lock icon JCY International says Johor strike unlikely to impact full-year showing
      532 9  -  42 workers arrested after unrest and fire in factories By PAULINE NG in Kuala Lumpur DAMAGE to JCY International’s factories and properties in Kulaijaya, Johor, is not expected to impact its performance for the fiscal year to end-September, the hard-disk-drive
      532 words
    • Article, Illustration
      Lock icon Pertamina stops subsidised fuel programme
      356 9 Reuters [JAKARTA] Indonesia’s state-owned Pertamina on Wednesday halted a week-old programme aimed at curtailing the use of subsidised fuel, after its implementation led to panic buying and long queues at petrol stations in South-east Asia’s largest economy. The former Opec member is struggling to contain
      Reuters; PHOTO: AFP  -  356 words
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      392 9 INVEST IN TOKYO 1ST GLOBAL LAUNCH Visit our website at: tokyoproperty.com.sg T) www.ecg.com.sg Q project@ecg.com.sg HAMAMATSUCHO 3>'>xU7tLlLIH| MASTER’S VILLA FREEHOLD CONDOMINIUM Few Minutes Walk to 4 STATIONS, 7 LINES PROPERTY EXHIBITION 30 31 AUGUST 11 am-7pm Hilton Hotel Level 5 Malaysia Room Bank Financing Available No Foreigner Restrictions Only 5%
      392 words
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      254 9 SINGAPORE’S BIGGEST IT. AND CONSUMER ELECTRON^^^WTION comex CONNECTS YOU TO TECHNOLOGY 28-31 AUG 2014 SUNTECS i n 2 9 „r^ evels4 i6 j ADMISSI 12pm 9pm EXPECT SOMETHING NEW AT COMEX TECH SHOWCASE Razor Nabu Smartband SIR FE SURE-WIN STRIFE items andAlienware products up for grabs don't miss it! ALIENWARE$'
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  • CHINA/INDIA
    • Article, Illustration
      Lock icon Bank accounts for all no easy task in India
      754 10 Half the 1.2b people are unbanked and many of them don’t have identity papers that banks insist on AFP [NEW DELHI] Premier Narendra Modi has put a pledge to give bank accounts to all Indians on a war footing, but experts
      AFP; PHOTO: AFP  -  754 words
    • Article
      Lock icon China’s top judge lauds corruption investigation into former senior leader
      252 10 Move to probe Zhou Yongkang shows no one is above law, he adds Reu ters [SHANGHAI] China’s top judge has said the ruling Communist Party’s decision to investigate former senior leader Zhou Yongkang demonstrates clearly that no party member is
      Reuters  -  252 words
    • Article
      Lock icon Fonterra ties up with China milk formula maker
      467 10 Reuters [WELLINGTON] New Zealand’s Fonterra on Wednesday said that it will take a stake in Chinese baby food and formula maker Hangzhou Beingmate Group in the dairy giant’s first tie-up with a Chinese processor since its involvement in a tainted infant formula
      Reuters  -  467 words
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      270 10 Almost 40 per cent of all who enter the tournament will qualify for the final at Serapong, which means you stand a chance to play at Sentosa twice at the early bird price of $488. With the goodie bag, you can’t get a better deal. Murali Subramaniam, Deputy Editor, The
      270 words
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  • WORLD
    • Article
      Lock icon BHP in talks to sell all or part of Nickel West
      515 11 Race on between Glencore and Jinchuan to buy asset, say sources Reuters [LONDON] Commodities trader and miner Glencore and Chinese nickel producer Jinchuan Group are the frontrunners to buy BHP Billiton’s Australian Nickel West division, two sources close to
      Reuters  -  515 words
    • Article, Illustration
      Lock icon US policy makers can’t digest Burger King’s tax-saving merger in Canada
      563 11 WP Bloomberg [TORONTO] Policymakers from both parties in the US have cried foul on Tuesday over Burger King’s potential tax-shaving merger with Canadian coffee giant Tim Hortons, but they couldn’t find common ground on how best to beat back
      WP; Bloomberg; PHOTO: AFP  -  563 words
    • Article
      Lock icon Eurozone borrowing costs fall to record lows
      313 11 AFP [PARIS] The cost of borrowing for eurozone countries fell to record low levels on Wednesday, despite gloom over the economic outlook and crisis over economic policy in France. The bond interest rates are falling following comments made by the head of the
      AFP  -  313 words
    • Article, Illustration
      Lock icon New French minister vows to rebuild investor confidence
      488 11 Cabinet purged of ministers opposed to spending cuts Bloomberg [PARIS] French President Francois Hollande’s new economy minister pledged to rebuild investor confidence, committing to the path of reform after the Cabinet was purged of ministers who rebelled against spending cuts. Emmanuel Macron,
      Bloomberg  -  488 words
    • Article
      Lock icon German publisher plans job cuts
      251 11 Reuters [FRANKFURT] German publisher Gruner+Jahr (G+J) plans to cut up to 400 jobs as it seeks to reduce annual costs by US$99 million to combat a downturn in the print media market. The move comes as Germany’s resilience to the technological, cultural and demographic forces
      Reuters  -  251 words
    • Article
      Lock icon Europe securitisation market needs govt aid
      348 11 Bloomberg [FRANKFURT] The European Central Bank’s efforts to restart the region’s ailing securitisation industry may fall short unless governments step in and guarantee at least some of the debt, executive board member Benoit Coeure said. “Europe is facing a very fundamental choice if it
      Bloomberg  -  348 words
    • Article
      Lock icon Thailand plans rules to curb stock manipulation
      277 12 Bloomberg [BANGKOK] Thailand is planning new rules to check stock-market manipulation by allowing the regulator to file civil lawsuits and impose hefty fines on the law-breakers. The rules take inspiration from the success of US regulators in getting monetary settlements, Vorapol Socatiyanurak, secretary
      Bloomberg  -  277 words
    • Article, Illustration
      Lock icon RBS fined US$24m over bad mortgage advice
      537 12 It ‘failed to ensure that advice given to customers was suitable’: regulator Bloomberg [LONDON] Royal Bank of Scotland Group was fined US$24 million by the British markets regulator for giving clients poor advice on mortgages. The Financial Conduct Authority (FCA) faulted RBS for
      Bloomberg; PHOTO: BLOOMBERG  -  537 words
    • Article
      Lock icon Citigroup fined US$1.85m for lapses
      417 12 Bloomberg [NEW YORK] Citigroup Inc will pay a US$1.85 million fine and return more than US$638,000 to customers after its securities unit failed to get the best prices for clients in about 22,000 trades over more than three years, the Financial Industry Regulatory Authority (Finra)
      Bloomberg  -  417 words
    • Article
      Lock icon Heartbleed hack still a security threat to big companies
      681 12 Bloomberg [WASHINGTON] Hundreds of thousands of corporate computer servers, routers and other Internet devices worldwide remain vulnerable to the Heartbleed Web-security flaw nearly six months after its existence was disclosed, security researchers say. More than half of the Forbes Global 2000
      Bloomberg  -  681 words
    • Article
      Lock icon Korean firms to adopt retirement pensions
      219 12 Reuters [SEOUL] South Korea said on Wednesday all local companies would be required to introduce a retirement pensions plan by 2022, a step aimed at helping fund an expected surge in welfare costs from a rapidly ageing population. South Korean firms began voluntarily offering
      Reuters  -  219 words
    • Article
      Lock icon Oil sales help Russia avoid fiscal deficit
      579 13 US$19b surplus in 7 months of 2014 eases concern over US, Europe sanctions Bloom berg [MOSCOW] Russia cancelled its sixth weekly debt sale on Tuesday, its longest absence from fundraising in four years, as oil revenue gives the government slack to keep sidestepping
      Bloomberg  -  579 words
    • Article
      Lock icon First interim payout for MF global creditors
      448 13 Bloomberg [NEW YORK] Unsecured creditors of MF Global Inc will receive a first interim distribution of about 20 per cent of their approved claims, James Giddens, the trustee for the defunct brokerage, said in a court filing. Mr Giddens, who has been liquidating
      Bloomberg  -  448 words
    • Article, Illustration
      Lock icon Japan’s return to nuclear energy faces public test
      578 13 Bloomberg [TOKYO] Japan is facing the toughest test yet in its effort to restore nuclear energy to the country more than three years after the Fukushima disaster: scrutiny from a sceptical population. The Nuclear Regulation Authority vouched last month for the safety
      Bloomberg; PHOTO: AFP  -  578 words
    • Article
      Lock icon Yield from US$29b 2-year note sale nears 3-year high
      556 16 US securities’ yield at 0.530%; analysts note demand despite Fed pressure Bloomberg [NEW YORK] The US sold US$29 billion of two-year notes at close to the highest yield in three years, less than a week after Federal Reserve chair Janet Yellen
      Bloomberg  -  556 words
    • Article, Illustration
      Lock icon Time Warner Unit starts cutbacks via buyouts
      272 16 Bloomberg [NEW YORK] Time Warner, which recently fended off a US$75 billion takeover bid from 21st Century Fox, is offering buyouts to about 6 per cent of its US employees at its Turner cable networks. Turner, which includes the CNN, TNT, TBS and
      Bloomberg; PHOTO: BLOOMBERG  -  272 words
    • Article
      Lock icon UK business leaders against Scottish independence
      273 16 They also point to uncertainty over tax, currency issues Reu ters [LONDON] More than 100 business leaders spoke out against Scottish independence, saying the business case for independence has not been made, the biggest intervention by the United Kingdom’s business community in the referendum
      Reuters  -  273 words
    • Article, Illustration
      Lock icon Apple said to be planning largest-ever iPads
      588 17 Production is scheduled to start by first quarter of next year Bloomb erg [SAN FRANCISCO] Apple Inc’s suppliers are preparing to manufacture the company’s largest-ever iPad, with production scheduled to commence by the first quarter of next year, according to people with knowledge
      Bloomberg; PHOTO: REUTERS  -  588 words
    • Article
      Lock icon Snapchat near financing deal
      425 17 Investors including Kleiner value startup at US$10b Bloomberg [SAN FRANCISCO] Snapchat Inc is near a round of funding at a valuation of about US$10 billion from investors including venture capital firm Kleiner Perkins Caufield Byers, according to a person with knowledge of the matter. The Los
      Bloomberg  -  425 words
    • Article
      Lock icon US credit-rating firms to face new SEC rules
      203 17 Bloomberg [WASHINGTON] Credit-rat-ing firms, whose lapses played a central role in the 2008 financial crisis, will face new restrictions on conflicts of interest under rules set to be adopted by the US Securities and Exchange Commission. Firms including Moody’s Investors Service and
      Bloomberg  -  203 words
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      91 11 HOT PROPERTY RE/GNWOOD uauuJT SCOTTS Scotts Rd A ?K° N 2756 sn ft <So,'. 3 bdrm Immediate Occup a^^ PF V/LLE ROYALE 2- LEVELPH R eno S Clarke° f 0 9dn 1 00 sf $6.5Ki k Uay 7 MRT. V, VACE 1RM high floor UE N a a a T
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      1260 12 THE MONETARY AUTHORITY OF SINGAPORE RESULTS OF AUCTION OF TAXABLE BOOK-ENTRY SINGAPORE GOVERNMENT BONDS TO BE ISSUED ON 01 SEPTEMBER 2014 Tenor Approx. 2 Years Total Amount Allotted SGD 2,300,000,000 Amount Allotted to SGD 123,577,000 Non-Competitive Applications Amount Allotted to MAS Nil Total Amount Applied SGD 4,531,009,000 Coupon Rate 3.750%
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      1079 13 The Business Times NOTICES Toll free 1800-289-8822 Email nolices@sph.conn.sg www.sphclass.com.sg/notices The Norinchukin Bank (A bank organised in Japan) Consolidated Balance Sheet As of March 31,2014 Consolidated Statements of Operations and Comprehensive Income Millions of Yen For the fiscal year ended March 31, 2014 Independent Auditor's Report The Board of Directors
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  • COUNTRY FOCUS: KAZAKHSTAN
    • Article
      Lock icon Promoting a new investment climate
      884 14  -  Kazakhstan has introduced various initiatives, like a preferential regime for priority projects, to encourage investors. Reports byVINCENT VINCENT WEE KAZAKHSTAN has taken major steps to boost the environment for investments in the country, amending some legislation and making new laws to make it even easier
      884 words
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      Lock icon Striving for East-West logistics corridor
      1013 14 KAZAKHSTAN is making big moves to take advantage of its strategic position at the crossroads of Asia and Europe to develop a transcontinental transport corridor. What is designed to be a major logistics pathway will connect Western Europe with China’s western provinces and on to
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    • Article
      Lock icon Marking a key milestone in Kazakhstan history
      399 14 THE end of August marks a significant date as Kazakhstan celebrates Constitution Day, one of the most important state holidays in the country. The event marks the date in 1995 when, as a result of a national referendum, the Constitution of the Republic
      399 words
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      Lock icon Pulling its weight in nuclear safety and security
      1218 15  -  Kazakhstan again wins praise from the White House for promoting the peaceful use of nuclear energy. Reports by Vincent wee Reports byVINCENT byVINCENT WEE KAZAKHSTAN’S exemplary role in nuclear disarmament always gives it a high status when attending forums of this nature.
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      Lock icon Highlighting importance of the Asean region
      692 15 KAZAKHSTAN’S Minister of Foreign Affairs Erlan Idrissov is visiting Singapore on Thursday as part of a region-wide swing through Asean countries during late August and early September which will include official visits to Vietnam, Indonesia, Malaysia as well as Singapore. During his visit, which
      692 words
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      104 14 CJj p (*n« ann ln 9 il S 1 nerqv Solutions iUtfFM w nni1iTtTirt..i y 3SfeP^ '*v jJr.iM. {•'■Bn ■^PSpR^. ™»««ibb b ■Ml 2 I I ijjd H 4 as 7 -EE?** *«ar. Blij Hi All eyes will be on EXPO 2017 in Astana, Kazakhstan where the brightest minds from
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      31 15 On 29 August, the world is observing “A Minute of Silence” at 11.05am in memory of all victims of nuclear weapons testing. Link arms with us to support our mission onhttps://www.facebook.com/kazakhstanEmbassy
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      343 16 STPROPERTY Seminar Showcase 2014 Singapore Malaysia DATE: Sunday, 31 August 2014 I VENUE: Stamford Ballroom Level 4, Raffles City Convention Centre iSf 80 Bras Basah Road, S(*****0) TIME: 8.30am to 5.00pm SEMINAR TOPICS SPEAKERS All prices are inclusive of GST mill iiii if Wm STPROPERTY D IklUCCTDCDATE INVEST REBATE RM8,888
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      55 16 r r IP ASIA 2015 The Next-Generation Workscape 29-31 JULY 2015 Marina Bay Sands, Singapore www.OfficExpoAsia.com •Cloud Solutions for Small Medium Enterprises Next-Gen Business Solutions Document Imaging Solutions •Office Stationery Supplies ■Optimal Modern Work Environments Interested to exhibit? Tel: (65) 6848 5938 Email: OEA@bizlink.com.sg Organised By: BIZLINK Exhibition Services Pte
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      205 17 The Business Times NOTICES IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF SKYWEST AIRLINES (S) PTE. LTD. (IN MEMBER'S VOLUNTARY LIQUIDATION) (Company Registration No. *****3045K) NOTICE OF MEMBER'S VOLUNTARY LIQUIDATION Notice is hereby given that at an Extraordinary General Meeting of Member of the
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      553 17 THE BUSINESS TIMES Ik I 1 I Toll free 1800-289-8822 I I I B Email noticeswsph.com.sg I J I I j B www.sphclass.com.sg/notices SUMITOMO MITSUI TRUST BANK, LIMITED (Incorporated in Japan with Limited Liability) Independent Auditor's Report To the Board of Directors of Sumitomo Mitsui Trust Bank, Limited: We have
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  • EDITORIAL & OPINION
    • Article
      Lock icon Food, healthcare inflation hit poor hardest
      489 18 EDITORIAL A CLOSER look at Singapore’s latest inflation numbers reveals how the lower-income segment of the population might be bearing the brunt of price increases. Core inflation rose 2.2 per cent year-on-year in July an elevated but still manageable number on the whole. Headline
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      Lock icon China’s efforts to reverse brain drain bearing fruit
      768 18  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 THE 110th anniversary of the birth of Deng Xiaoping on August 22 has brought forth a flood of articles and speeches on the
      768 words
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      Lock icon Businesses to promote study in Stem faculties
      1116 18  -  Science, technology, engineering and mathematics are skills in demand in private sector By BICKY BHANGU The writer is senior country manager of Rolls-Royce Singapore LATE last year, when the Organisation for Economic Cooperation and Development (OECD) announced the results of the Programme for
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      Lock icon Stop the oceans from choking on plastic
      1185 19  -  The only way is to prevent man-made debris from getting to the sea By CHARLES J MOORE NYT THE world is awash in plastic. It’s in our cars and our carpets; we wrap it around the food that we eat and virtually every
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      Lock icon Modi’s business-like foreign policy
      947 19  -  YOGI AGGARWAL A NOTABLE feature of the swearing-in ceremony of Indian Prime Minister Narendra Modi on May 26 was the presence of all the leaders of South Asian countries. By this invitation, Mr Modi was signalling that he planned to make relations between India and its
      947 words
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      Lock icon Japan could follow S Korea’s idea of taxing prosperity
      688 19  -  WILLIAM PESEK Bloomberg FOR a supposed conservative, South Korean President Park Geun Hye is considering a shocking proposal taxing companies for having too much money. She wants to slap a 10 per cent levy on excessive cash piles, hoping that companies
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    • Article
      Lock icon SGX should reduce board lot to one-share trading
      541 19 LETTER TO THE EDITOR NARAYANA Narayana asked, “Will a smaller board lot size make much difference?” (BT, Aug 27), and the indisputable and obvious answer must be a resounding “yes”. Reducing the board lot size is not about encouraging a “gambling” or
      541 words
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  • AVIATION
    • Article, Illustration
      Lock icon MAS employees brace for job cuts
      968 20 Route cuts, change of leadership also to feature in restructuring plan Reuters [KUALA LUMPUR] As bodies from downed Flight MH17 were brought home last week, a group of Malaysia Airlines flight attendants, in black mourning headscarves contrasting with their pink and turquoise uniforms, sobbed
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    • Article
      Lock icon ICAO seeks to warn airlines of risks in conflict zones
      231 20 Reuters [VANCOUVER] The United Nations’ civil aviation body will launch two pilot projects designed to help airlines and states better share information about risks in conflict zones, the organisation said on Tuesday, nearly six weeks after a Malaysian airliner was
      Reuters  -  231 words
    • Article
      Lock icon Air China shares up despite 58% drop in H1 profit
      399 20 AFP [HONG KONG] Shares in Air China climbed in Hong Kong on Wednesday despite reporting a 58 per cent drop in first-half net profit. The firm said in a filing with the Hong Kong stock exchange late Tuesday that net
      AFP  -  399 words
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      Lock icon Airlines mulling over first-class cabins after success of business beds
      778 20 Premium on frontrow seats now harder to justify Bloomberg [LONDON] The word’s top airlines are questioning the need for first-class cabins as flat-bed seats cradle corporate customers in once-unimaginable comfort, making the premium on front-row seats harder to justify. With
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    • Article
      Lock icon TRANSPORT STOCKS
      243 20 SGX '000 Aug 27 S$ +/-Vol Ch Offshore 0.49 0.01 183 Chuan Hup Hldg 0.29 -0.01 591 Auq 27 Cwt Limited...............1.79 0.04 1572 First Ship Lea Ch Offshore Grand Banks unch unch 0 Jaya Hold Ltd Cwt Limited K1Ventures 0.20 unch 572 Keppel Corp 11.00 0.02 2077 Mercator
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  • Page 20 Miscellaneous
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      295 20 CRYPTIC CROSSWORD Across 7 Caught bending, doing housework perhaps (8) 9 Origin of wine in glasses? (6) 10 Generous entry charge to catch Queen (4) 11 Jet to carry bombs in flight (10) 12 Stand in quiet disapproval (6) 14 Rescues from attacks around middle of hostilities (8) 15 Country
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  • Article
    Lock icon SHIPPING TIMES
    1220 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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      81 21 Experienced ship maintenance findyou y r I services services wanted, heremthe Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 The Business Times I IIL UUJIIVLJJ I IIVILJ Shipping Times Legal services required by shippers owners TO ADVERTISE, CALL JOE WONG AT 9620 Can they find your services here
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  • SINGAPORE STOCKS
    • Article
      Lock icon SGX MAINBOARD
      4140 22 Transaction date: Aug 27 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 Vol Day --AAT Div Gr Yld 15 11.2 AEI M Cap High 153.1 131 AIMSAMP Cap Reit ....................145.5 -0.5
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    • Article
      Lock icon SGX CATALIST
      408 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 25 t 3Cnergy 500 Last Vol Day Last Quote Div Gr Yld Net 43.5 28 t Alliance Mineral 36 +0.5 ***** 37 35
      408 words
    • Article
      Lock icon UNIT TRUST & FUNDS
      10949 23 UNIT TRUST FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** APS Alpha Fund (USD)!** 1.28/ Aberdeen Asset Mgt Asia Limited Chna Opportunities'* 3 0102/ European Opportunities' 1 3317/ China Opportunities USD!** Global Emerging Markets USD Global Opportunities USD Global Technology India Opportunities USD!** ...0.5889/ Indonesia
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      Lock icon GLOBALQUOTE
      248 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 $mil Last 5 0.7 OGL Resources A$ A1.5 -0.7 92 2 1.5 1.1 1.8 0.2 343 250 TanChongInt HK317 -11 204 319 315 315 317 9.7 3.3 3.1
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    • Article
      Lock icon SGX ETF
      1103 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 $mil 118 108.3 ABF SG Bond ETF 116.1 +0.1 116.1 116.1 115.8 116.5 530 138 119 CIMB APAC Div 100S$D 137.5 +0.4 137.5 137.5 137 138.4 110.1
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  • FINANCE & COMMODITIES
    • Article
      Lock icon SGX DERIVATIVES TRADING
      661 24 Aug 27 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.56 *****.22 *****.99 Sep14 *****.00 *****.00 *****.00 *****.00 ***** *****6 Dec14 *****.00 *****.00 *****.00 *****.00 4117 ***** MSCI TAIWAN INDEX FUTURES SPOT 343.79 345.92 343.74 Aug14 341.70 345.90 341.40 344.90 *****3 ***** Sep14 341.80
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      373 24 In local curr In S$ In US$ dy yr dy yr dy yr Aug 26 Index Change Change Change Change Change Change World Preliminary 1256.7 0.3 6.1 0.2 4.3 0.3 5.4 EAFE Preliminary 977.9 0.4 2.3 0.3 -0.2 0.4 0.9 Europe Preliminary 1395.5 0.8 3.0
      373 words
    • Article
      Lock icon INTERBANK CROSS RATES
      476 24 Aug 27 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.017 5.735 0.708 7.232 56.404 109.062 0.969 9.464 2.938 1.114 94.295 40.732 1.164 9.937 0.855 27.946 29.786 0.563 0.933 Canada 0.984 5.641
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    • Article
      Lock icon SIBOR
      39 24 Aug 27 (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 3 mths 6 mths 6 mths Source: Thomson Reuters
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    • Article
      Lock icon GOVERNMENT SECURITIES
      74 24 Aug 27 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 NY*****F 3.75 01-Sep-16 106.47 5-Year NX*****W 2.5 01-Jun-19 105.47 10-Year NY*****H 3.000 01-Sep-24 106.19 106.35 106.16 15-Year
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    • Article
      Lock icon PRECIOUS METALS
      120 24 Aug 27 GOLD(US$/oz) Aug 27 Aug 26 Hong Kong 1288.00 1290.00 Aug 26 Aug 25 London 1283.17 1276.05 1283.75 1276.63 Source: Thomson Reuters Source: Reuters CAST BAR Aug 27 (S$) Selling Buying Kilobar ***** ***** PAMP GOLD BARS (S$) Selling Buying 1gm 78 49 5gm 309 255 10gm
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    • Article
      Lock icon PALM OIL
      60 24 Aug 27 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 14 2045.0 1996.0 2057.0 1995.0 715 4380 Oct 14 2026.0 1974.0 2048.0 1972.0 3995 ***** Nov 14 2028.0 1976.0 2052.0 1973.0 ***** ***** Dec 14 2052.0 2009.0
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      157 24 Aug 27 Against US$ Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1637 1.1644 0.9329 0.9334 Canadian dollar 1.1445 1.1453 0.9181 0.9175 Euro 1.6446 1.6451 1.3184 1.3187 NZ dollar 1.0441 1.0449 0.8370 0.8376 Sterling pound 2.0667 2.0671
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    • Article
      Lock icon CHICAGO BOT
      109 24 Aug 26 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Sep 14 1075.50 1125.75 1123.00 1072.75 Nov 14 1028.00 1029.25 1030.50 1019.75 Jan 15 1035.50 1036.00 1037.75 1027.25 Mar 15 1042.25 1042.50 1044.50 1034.50 SOYBEAN OIL (60,000 lbs; US cent/lb) Close Previous High/Low Sep 14
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    • Article
      Lock icon LIFFE
      95 24 Aug 26 COCOA (£/tonne) Close Prev High Low Sep 14 2071 2057 2075 2049 Dec 14 2036 2022 2040 2015 Mar 15 2001 1991 2009 1983 May 15 1988 1979 1993 1971 COFFEE(US$/tonne) Close Prev High Low Sep 14 2007 1986 2010 1981 Nov 14 2027 1997 2030 1992
      95 words
    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      962 24 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 5 0.3 1 -55 3.64 47 Asia-Pacific Strategic W*****6 3.7 0.2 9142 1 2 57 Acma Ltd W*****7 Exer Price Ascendas REIT MB eCW*****3 Disc Asiatic Grp(Hldgs) Ltd
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    • Article
      Lock icon CRUDE OIL & PRODUCTS
      70 24 CRUDE OIL PRODUCTS Aug 26 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 102.54 0.15 WTI (Near Mth) 93.90 0.53 Dubai (1-Mth F) 101.33 0.30 Tapis blend 104.26 0.20 Minas 100.26 0.20 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 98.61 0.55 Jet Kerosene 115.81 0.44 US$/barrel OpecOil Basket
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    • Article
      Lock icon US$/S$ FORWARD RATES
      22 24 Aug 27 S$ Bid Offer 1-month 1.2474 1.2475 2-months 1.2474 1.2475 3-months 1.2474 1.2475 6-months 1.2472 1.2474 Source: OCBC
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      Lock icon LONDON METALS
      67 24 Aug-2 6 Aug-26 Aluminium, 99.7% purity(US$/tonne) Close Previous Cash 2071.75 2058.00 3 months 2083.00 2063.00 Copper, Grade A(US$/tonne) Cash 7074.50 7098.00 3 months 7054.00 7076.00 Lead(US$/tonne) Cash 2243.75 2251.00 3 months 2251.50 2253.50 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3
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      Lock icon FOREIGN CURRENCY NOTE RATES
      121 24 As at 9am Aug 27 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.190 1.134 Can dollar 1.163 1.119 Euro 1.682 1.602 Sterling pound 2.104 2.024 NZ dollar 1.067 1.026 US dollar 1.274 1.214 Local dollars to 100 units of foreign
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    • Article
      Lock icon INTERBANK RATES
      157 24 Aug 27 $S Offer Bid 0vernight 0.05 0.02 1-month 0.3125 0.1875 2-months 0.3750 0.2500 3-months 0.4375 0.3125 Overnight mode: 0.17 US$ 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
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  • PROPERTY
    • Article, Illustration
      Lock icon Mumbai developers co-opt slum dwellers
      1500 25 Developments rehouse, employ former slum residents Bloomberg [MUMBAI] By the time Indian developer Babulal Varma stepped in, bulldozers and police with truncheons were a day away from forcibly evicting the last residents of a corrugatedroofed, rain-tarped slum that had grown like a tumour into a
      Bloomberg; PHOTO: BLOOMBERG  -  1,500 words
    • Article
      Lock icon Househunt
      718 25 PROPERTY TRANSACTIONS FOR DISTRICTS 1 TO 28 WITH CONTRACT DATES BETWEEN JULY 16 AND JULY 22, 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 MARINA BAY RESIDENCES APT 21/07/2014 99 743 1723 2320 District 2 NON-LANDED
      718 words
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      Lock icon Jeweller Luk Fook to expand stores in HK as rent increases slow
      513 26 Bloomberg [HONG KONG] Luk Fook Holdings International, the second-largest jeweller in Hong Kong by market value, plans to expand in the city’s prime shopping districts as landlords hold back on raising rents. Landlords are forgoing rent increases or
      Bloomberg; PHOTO: BLOOMBERG  -  513 words
    • Article
      Lock icon Uproar over NY condo with entrances for rich and poor
      1289 26 Project combines condos with luxury facilities and affordable rental units that can’t share the perks NYT [NEW YORK] A 33-storey glassy tower rising on Manhattan’s waterfront will offer all the extras that a condo buyer paying up to US$25 million
      NYT  -  1,289 words
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      Lock icon Mapletree snaps up US property for US$70m
      536 27  -  This is its first foray into serviced residences in its JV with Oakwood By LYNETTE KHOO lynkhoo@sph.com.sg @LynetteKhooBT MAPLETREE Investments has snapped up a property in the heart of America’s Silicon Valley for US$70 million, marking its maiden acquisition in the United States.
      536 words
    • Article
      Lock icon Vanke offers discounts to Taobao shoppers
      285 27 Bloomberg [BEIJING] China Vanke Co, the country’s biggest developer, teamed up with Alibaba Group Holding Ltd to offer discounts of as much as US$325,000 to home buyers who also shopped on the e-commerce company’s Taobao Marketplace. Vanke will grant discounts of two million yuan
      Bloomberg  -  285 words
  • Page 25 Advertisements
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      Lock icon Page 26 Advertisements Column 1
      373 26 RARE FREEHOLD LANDED DEVELOPMENT SITE S'PORE ISLAND COUNTRY CLUf 3p* CAMDEN PARK GCBA ST JOSEPH'S INSTITUTION KHEAM HOCK ROAD DACpi cc 5 PORE Town Chinese club GIRL'S I SCHOOL CLUNY COURT BOTANIC garden; SINGAPORE BOTANIC GARDENS Investment Properties 6224 8181 Site area 3,831.8 sq m approximately 41,245 sq ft Masterplan
      373 words
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      Lock icon Page 26 Advertisements Column 2
      263 26 MALACCA COMMERCIAL PROPERTY FOR SALE RIVERFRONT COMMERCIAL LAND Freehold 278,800 square feet Future river cruise stop and park Near AEON and Melaka Sentral Ideal for mixed development SGD $16 millions negotiable CEA Licence L*****82Z CEA Registration R0288S7A PRIME LOCATION 3-STAR HOTEL Eco-friendly budget/tourist hotel 140+ rooms (can add 120+ rooms)
      263 words
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      Lock icon Page 26 Advertisements Column 3
      19 26 Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices
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      784 27 Advertorial Luxury residences above Shangri-La Toronto unveiled to Asia Contributed by SQFT Global Properties Westbank Corp, one of the world’s premier creators of luxury homes, has redefined Toronto’s luxury living with a 66-storey, 214-metre tower housing The Shangri-La Hotel and luxury condominiums on the most celebrated street of downtown Toronto
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      103 28 V* W. 0 A MITSUBISHI ELECTRIC Changes for the Better A MITSUBISHI ELECTRIC INVERTER xui-yiji EXCELLENT Energy Savings f Easiest To Clean! Reachable Inner Vent for Easy Clean m UIETE 9 W W Mr r Air Conditioner yPi'N’no t*£ iKiu i. -*&t 'fctejj i fitsulrishi Electric uality SAVE MlCHiLV for
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