The Business Times, 25 November 2014

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Total Pages: 32
1 32 The Business Times
  • 29 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G n@BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 I Wednesday, October 8, 2014 Tu sday, November 25
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  • Article, Illustration
    254 1 Singapore’s headline inflation eased to 0.1 per cent in October from 0.6 per cent in September its lowest since December 2009 but that only tells one side of the story. TOP STORIES 2 In what economist-blogger Hishamrais Hussein described in a post on Monday as “an outbreak of
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  • 26 1 Monday Change STI 3,340.53 -4.79 KL COMP 1,833.77 +24.64 NIKKEI 225 Closed HANG SENG 23,893.14 +456.02 SHENZHEN B 977.91 +10.56 DOW (11am EST) 17,830.84 +20.78
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  • 1039 1  -  Central bank catches market off-guard with first cut in 2 years aimed at curbing stubbornly high borrowing costs By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore CHINA’S unexpected interest rate cuts, its first in almost two years, provided the fuel for rallies in some Asian
    Source: CEI, OCBC  -  1,039 words
  • 636 1  -  As at Oct 31, it has recovered/denied cash payout and bonus for 150 cases amounting to about S$7.6m By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore THE Inland Revenue Authority of Singapore (Iras) now has more teeth to curb abuse of the Productivity and Innovation
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  • Page 1 Advertisements
    • 89 1 *****4 GOOD CLASS BUNGALOW Nanshan Group’s Song family buys Holland Park GCB REAL ESTATE 14 ONLINE ONLY REALISING GLOBAL AMBITIONS Lim Ee Seng, group CEO of Frasers Centrepoint Ltd DBS ASIAN LEADERS INSIGHTS 12 Explore how Jurong Island has changed over the years with our interactive map and timeline btd.sg/JurIsld
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  • TOP STORIES
    • 848 2  -  But easing due to COE base effects; core inflation still firm at 1.7% By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore SINGAPORE’s headline inflation eased to 0.1 per cent in October from 0.6 per cent in September its lowest since December 2009
      Source: Department of Statistics  -  848 words
    • 697 2  -  SHANGHAI-HONG KONG LINK By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore THE Hong Kong stock exchange is working with regulators to fan interest among mainland investors to trade Hong Kong stocks via the Shang-hai-Hong Kong stock connect. This includes studying how the door
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    • 665 4  -  Move coincides with low global oil prices, and the govt’s savings can be put to good use, say observers By S Jayasankaran btworld@sph.com.sg Kuala Lumpur IN what economist-blogger Hishamrais Hussein described in a post on Monday as “an outbreak of common sense”, the
      PHOTO: THE NEW PAPER FILE PHOTO  -  665 words
    • 562 4  -  Talent-management firm: workers near retirement age are not financially ready and neither are employers By Pauline Ng btworld@sph.com.sg Kuala Lumpur MALAYSIA could have a crisis on hand as its population ages. It is already well known that a
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    • 371 4  -  By John Foley &JS REUTERS BREAKINGVIEWS CHINA’S economy is in the throes of financial adolescence. One consequence is that, when faced with surprises like the cut in interest rates on Nov 21, it doesn’t always do what it is told. If all credit
      &JS REUTERS BREAKINGVIEWS  -  371 words
    • 723 5  -  PM to set up Smart Nation Programme Office; Virtual Singapore project to be launched Reports by Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore SOON after the separation from Malaysia in 1965, Singapore’s first Prime Minister Lee Kuan Yew set a goal for the
      PHOTO: LAU FOOK KONG/THE STRAITS TIMES  -  723 words
    • 576 5 National infocomm Awards also go to LTA, DBS and Singapore District Cooling Singapore NUMONI, a Singapore-based payments company, wants to reach out to over 80 per cent of the world’s people. That’s an ambitious goal for a young (just two years old) and small (a
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  • COMPANIES & MARKETS
    • 1004 6  -  Those that stand out amid the bleakness are firms that have diversified into investment properties and overseas markets By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THE FTSE index tracking Singapore property developers has underperformed the benchmark Straits Times Index 4.8 per cent to 5.5 per cent
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    • 306 6 Singapore A QUALIFIED Person’s report commissioned by AsiaPhos Ltd confirmed an increase in the Catalist-quoted company’s total measured and indicated phosphate resources to 30.3 million tonnes as at Sept 30, 2014, from 23.1 million tonnes at the end of last year. The report by Watts,
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    • 659 8  -  HOCK LOCK SIEW R SIVANITHY sivan@sph.com.sg @RSivanithyBT OVER the course of what has been a largely unimpressive year for the local stock market, many second-line firms have at one time or the other been in the focus because they announced deals with large, head-line-grabbing
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    • 606 8  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore FIFTEEN project agreements amounting to more than S$3 billion have been signed at the 10th Singa-pore-Zhejiang Economic and Trade Council (SZETC) meeting held in Singapore, the highest number of such signings since
      ST FILE PHOTO  -  606 words
    • 487 9  -  By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore NAN FUNG International Holdings, one of Hong Kong’s largest privately owned property developers, has raised its offer price for Forterra Trust to S$2.25 per unit from S$ 1.85. The higher bid price for
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    • 494 9 BLOOMBERG Seoul SAMSUNG Group’s first management restructure since family patriarch Lee Kun Hee’s heart attack is set to focus on the executives leading the world’s biggest smartphone business as earnings slump and market share shrinks. The annual changes, which South
      BLOOMBERG  -  494 words
    • 302 9  -  Mobile advertising firm wins largest first-round funding of any startup in Singapore By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore MOBILE advertising startup PocketMath has raised US$10 million from Rakuten Ventures which marks the largest first-round funding of any startup in Singapore. For Rakuten Ventures, the
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    • Article, Illustration
      63 10 STI Catalist Straits Times index NOV 24,2014 3,340.53 -4.79 (-0.14%) Current streak 1 day Day high 3,356.27 Day low 3,339.53 52-week high 3,374.06 (July 31, 2014) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist index NOV 24,2014 795.45 +0.95 (+0.12%) Current streak 2 days Day high 799.69 Day low
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    • 646 10  -  Index closes lower as bank stocks pull back; penny stocks and blue chips see rotational plays on quiet day STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT AN interest-rate cut in China that pushed the Hang Seng Index up just under 2 per cent had no
      Source: Bloomberg  -  646 words
    • 307 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 227 +1 228/225 250 206 6.3 5735.6 CapitaLand 332 +5 337/331 348 268 16.6 2.4 *****.2 CapitaMall Trust 197.5 +0.5 198/196.5 209 180 5.2 6849.9 CityDev 988 -9 999/983 1118 860 13.4
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    • 36 10 VOLUME GSH 232,438,000 OLS Enterprise 90,292,000 Forterra Trust 66,879,200 IHC 54,127,000 Digiland Intl 39,724,000 Market volume 1,666,626,000 VALUE Forterra Trust 150,374,570 SingTel 85,250,670 CapitaLand 62,950,750 DBS Grp 56,446,710 Suntec Reit 39,128,580 Market value 1,067,125,000
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    • 110 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS India US$ US780 +2 1083 790/778 790/541 777/780 97.5 STI ETF 338 +1 250 339/337 343/298 337/339 UETF SSE50China 171 +6 191 171/169 173/140 169/172 53.4 Nikko AM STI ETF 343 -1 168 345/343
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    • 77 10 Nov 24 VALUE CLOSE BT OB/OS -161.00 +34.00 BT CADI -*****.00 +15.00 BT 10-day MA -*****.00 -16.00 FTSE ST Mid Cap 753.09 +1.70 FTSE ST Small Cap 520.32 +1.74 FTSE ST All Share 804.13 -0.43 FTSE ST China Top 192.57 +0.55 FTSE ST China 226.15 +0.43 FTSE
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    • 35 10 STI FTSE ST All-Share FTSE ST All-Share index NOV 24,2014 804.13 -0.43 (-0.05%) Current streak 1 day Day high 807.27 Day low 803.86 52-week high 819.39 (July 31, 2014) 52-week low 722.35 (Feb 5, 2014)
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    • 33 10 STI MSCI EAFE MSCI EAFE Index NOV 21,2014 1,831.20 +16.06 (+0.88%) Current streak 1 day Day high 1,832.14 Day low 1,812.97 52-week high 1,995.49 (July 3, 2014) 52-week low 1,714.64 (Oct 16, 2014)
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    • 186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 3 5 0 0 0 6 3 5 Manufacturing 33 46 47 6 9 9 39 55 56 Commerce 21 19 17 4 6 2 25 25 19 Tpt/Stor/Comms 11 17 12
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    • 123 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 16,739 16,739 48,101 48,101 Manufacturing 175,287 60,842 236,129 89,745 3,271 93,016 Commerce 323,938 41,012 364,950 89,182 3,733 92,915 Tpt/Stor/Comms 82,538 1,344 83,882 143,823 487 144,310 Finance 17,206 301 17,507 123,030 62 123,092 Construction 26,804 33,087
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    • 76 10 BY CENTS CLOSE UP 52w high/low SPDR S&P500 US$ ***** 387.1 1.5 *****/***** DBXT MSKorea US$ 5666 150.7 2.1 6735/5550 DBXT China50 US$ 3179 137.7 3.4 3367/2577 DBXT AUDBonds AU$ ***** 122.7 0.5 *****/***** DBXT MSTHAI US$ 2190 94.8 3.4 2222/1620 BY PERCENTAGE CLOSE UP 52w high/low Qingmei 2.2
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    • 77 10 BY CENTS CLOSE DOWN 52w high/low DBXT iBoxxSvEu US$ ***** -126.0 -0.4 *****/***** Hyflux 6% CPS ***** -90.0 -0.8 *****/***** DBXT Vietam US$ 2808 -54.6 -1.5 3100/2384 JMH USD 6180 -49.4 -0.6 6460/4934 Jardine C&C 4075 -39.0 -0.9 4901/3330 BY PERCENTAGE CLOSE DOWN 52w high/low UOB MB ePW*****2 2.3
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    • 82 10 VOL CLOSE($) CHANGE Qingmei 4,034.0 0.022 +0.011 +100.00 Forterra Trust 66,879.162 2.250 +0.390 +20.97 Samko Timber 12,081.0 0.110 +0.010 +10.00 China Haida 490.0 0.018 -0.003 -14.29 AVIC 277.0 0.070 -0.020 -22.22 Hoe Leong 2,234.0 0.046 -0.004 -8.00 Full Apex 510.0 0.060 +0.010 +20.00 Courage Marine 1,070.0 0.084 +0.014
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    • BROKERS’ TAKE
      • 210 10 BUY Nov 24 close: S$1.175 Target price: S$1.25 DBS Group Research, Nov 24 MAPLETREE Logistics Trust (MLT) continued on its acquisition growth path with Smart Logistics Centre in Korea for KRW21.4 billion (S$25.2 million). The acquisition price implies an initial yield of 7.8 per cent and is earnings
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      • 239 10  -  Compiled by Claire Huang |REDUCE Nov 24 close: S$0.57 Target price: S$0.53 CIMB Research, Nov 24 BIOSENSORS International Group’s share price has taken a beating since our post-results downgrade call. Our channel check reveals that there are potentially more blind spots, especially when restructuring efforts and sales
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      • 22 10 DATA I 9.00 am Singapore GDP I 9.30 pm US GDP Price index I 10.00 pm US SP/CaseShiller Home Price Index
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    • 377 11 CURRENCIES REUTERS London THE euro inched up against the US dollar on Monday after a strong-er-than-expected German business survey offered some respite, though it stayed close to a two-year low on bets of more easing in the eurozone. A monthly business climate index
      REUTERS  -  377 words
    • FOREX RATES
      • 471 11 Nov 24 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.974 5.323 0.699 6.727 53.609 105.280 1.022 9.645 2.900 1.098 88.113 38.963 1.127 9.504 0.841 26.837 28.463 0.554 0.867 Canada 1.027 5.464
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      • 155 11 NOV 24 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1261 1.1271 0.8670 0.8675 Canadian dollar 1.1561 1.1571 0.8906 0.8901 Euro 1.6106 1.6114 1.2400 1.2402 NZ dollar 1.0255 1.0264 0.7895 0.7900 Sterling pound 2.0338 2.0346 1.5658 1.5659
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      • 22 11 NOV 24 S$ Bid Offer 1-month 1.2992 1.2998 2-months 1.2992 1.2998 3-months 1.2993 1.2999 6-months 1.2993 1.3000 Source: OCBC
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      • Article, Illustration
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    • EQUITY BONDS WARRANTS FUTURES
      • 362 11 NOV 24 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.72 *****.59 *****.20 Dec14 *****.00 *****.00 *****.00 *****.00 *****8 *****4 Mar15 *****.00 *****.00 *****.00 *****.00 394 5044 MSCI TAIWAN INDEX FUTURES SPOT 341.61 341.98 339.44 Nov14 339.00 342.90 339.00 340.40 ***** *****6 Dec14 339.20
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      • 204 11 Most active Nov 24 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 4.2 -0.1 3010 1 18 23 DBS MB eCW*****2 13.5 0.6 2800 0.1 0 7 Tritech Group Limited W*****9 3 0.5 2488 1 20
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      • 373 11 In local curr In S$ In US$ dy yr dy yr dy yr Nov 21 Index Change Change Change Change Change Change World Preliminary 1284.1 0.8 8.4 0.5 7.5 0.7 4.6 EAFE Preliminary 995.3 1.2 4.1 0.7 -1.8 0.9 -4.4 Europe Preliminary 1401.4 1.8 3.4
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    • BANK RATES
      • 154 11 Nov 24 $S Offer Bid 0vernight 0.03 0.01 1-month 0.4375 0.3125 2-months 0.4375 0.3125 3-months 0.4375 0.3125 Overnight mode: 0.15 US$ 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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      • 36 11 NOV 24 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) 1 mth 0.***** 3 mths 0.***** 6 mths 0.***** Source: Thomson Reuters
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      • 61 11 Nov 24 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105.67 5-Year N*****0H 1.625 01-Oct-19 100.65 100.75 100.70 10-Year NY*****H 3.000 01-Sep-24 105.99 106.15 106.15 15-Year NY*****E 2.875 01-Jul-29 102.45 20-Year NZ*****V 3.375 01-Sep-33 107.86 30-Year NA*****N 2.750 01-Apr-42
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    • AGRI METALS ENERGY
      • 212 11 NOV-21 Price Net change change Last Trade Agricultural Nov-21 CBOT Soybeans (US cents/bu) 1039.00 18.50 1.81% 14/01/2015 CBOT Soybean Oil (US cents/lb) 32.69 0.02 0.06% 12/12/2014 CBOT Wheat (US cents/bu) 547.25 0.00 0.00% 12/12/2014 Nov-21 LIFFE Cocoa (£/tonne) 1894.00 -1.00 -0.05% 12/12/2014 LIFFE Coffee (US$/tonne) 2076.00 1.00 0.05%
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      • 57 11 NOV 24 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 14 2224.0 2195.0 2230.0 2192.0 187 4229 Jan 15 2233.0 2198.0 2233.0 2194.0 3735 ***** Feb 15 2239.0 2205.0 2239.0 2200.0 ***** ***** Mar 15 2245.0 2213.0
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    • 144 8 THE BUSINESS TIMES DATE: Saturday, 10 January 2015 Ilium) m TIME: 9.30am to 1pm All prices inclusive of GST TICKETS; Early Bird *ends 8 December 2014 $28 $38 Normal $18 Maybank Cardholders/ Maybank Kim Eng clients What lies ahead for you, the investor, in 2015? Hear from our distinguished panel
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  • Page 9 Advertisements
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    • 290 9 HOW EMPLOYERS CAN BENEFIT FROM THE WAGE GHEDIT SCHEME (WGSI 74 000 0ve benefited "P' 0V the first from W e tNCS P a V° ut The WCS helps businesses which are facing rising wage costs in a tight labour market. It co-funds 40% of the wage increases given to
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  • DBS ASIAN LEADERS INSIGHTS
    • 1195 12  -  With Lim Ee Seng at the helm, FCL’s assets have grown from S$5 billion in 2004 to almost S$17 billion this year. BY FRANCIS KAN ACALCULATEDbet made more than 10 years ago by Singapore property developer Frasers Centrepoint Limited (FCL) to tether its growth to the real
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    • 197 12 LIM Ee Seng shares the important lessons he’s learnt about the property business in his career so far: “I have been fortunate that in all these years, I have had the opportunity to work for highly successful bosses with excellent entrepreneurial skills, and I have been able
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    • 210 12 DESPITE the attention on its overseas ventures, FCL group CEO Lim Ee Seng maintains that Singapore remains a core market of the developer’s portfolio. He gives a breakdown of the developer’s strategy to weather the headwinds in the Singapore property market: IFocus on the mid to
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  • REAL ESTATE
    • 501 14  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore UNDAUNTED by the lacklustre en bloc residential sale market this year, a freehold condominium in the Novena area has launched a collective sale. Derby Court, a 35-year-old, 12-storey development comprising 20 apartments, has given an
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    • 649 14  -  S$30m purchase made through Sui Yongqing, wife of Song Jianbo, eldest son of group founder BY Kalpana Rashiwala ka|pana@sph.com.sg @Ka|panaBT Singapore SOME members of the Song family behind Nanshan Group Singapore, which has been increasing its presence in the Singapore property
      FILE PHOTO  -  649 words
    • 348 14 STALLED DEALS BLOOMBERG Hong Kong AQUIS Group, the developer that’s planning to build the world’s largest hotel in the tropical Australian city of Cairns, has put the project on review after a related casino takeover fell through. Aquis “will be
      BLOOMBERG  -  348 words
    • 243 14 BLOOMBERG Hong Kong SUNAC China Holdings Ltd is considering revising an agreement to purchase a 24 per cent stake in Greentown China Holdings Ltd after the target’s founder rescinded his wish to sell a stake in the Chinese developer. Sunac, based in Tianjin,
      BLOOMBERG  -  243 words
    • 748 16 European, US companies have pulled workers out of the country; rouble down 11% against euro BLOOMBERG London TIMUR Pankov was effectively living rent-free in Paris nine months ago, because the cost of his apartment was covered by the income from his Moscow property.
      BLOOMBERG; PHOTO: BLOOMBERG  -  748 words
    • 261 16 Targeted overseas markets include Europe, the United States and Australia REUTERS Beijing CHINESE property developer Dalian Wanda Group plans to build more than 150 premium hotels around the world by 2018 in an expansion of its luxury hotel business, state news agency Xinhua
      REUTERS  -  261 words
    • 243 16 REUTERS Cairo EGYPTIAN real estate company Amer Group plans to split into two companies in an attempt to create more opportunities for its development business and to boost trading in its shares. The company, which owns hotels, restaurants and
      REUTERS  -  243 words
    • 468 17 It wants to take advantage of rising wages and retail sales in Europe’s largest economy BLOOMBERG Berlin UNIBAIL-RODAMCO SE plans to add a second mall in Berlin and has increased investment in the first as Europe’s biggest shopping-centre owner taps one
      BLOOMBERG  -  468 words
    • 292 17 BLOOMBERG Istanbul TURKISH home sales jumped the most this year as stabilised interest rates spurred a surge in mortgage loans. The number of homes sold jumped 2 5 per cent to 95,645 in October, with mortgage sales rising 31 per cent, according
      BLOOMBERG  -  292 words
  • Page 14 Advertisements
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    • 131 14 TANGLIN SHOPPING CENTRE FREEHOLD STRATA COMMERCIAL UNITS FOR SALE I S 1 Exclusive appointment 1 Freehold, District 10 1 Orchard shopping belt 1 Retail, medical office units 1 Ideal for both owner occupation investment 1 No Additional Buyer's Stamp Duty 1 Foreigners companies are eligible to purchase 1 Strata-titled units
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    • 445 16 52 ??p:r Strategies To Grow and Protect Your Property Investments All prices are inclusive of GST 0^ Register Now stand to win an IPHONE 6 Y4i m |!S::=! :ii A Terms Conditions apply fl DAY 1 SATURDAY, 29 NOV 2014 DAY 2 SUNDAY, 30 NOV 2014 WHY ATTEND? *Terms and
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  • BANKING & FINANCE
    • 912 18 Measures are to ensure they don’t get stuck holding hard-to-sell bonds in a rising-interest-rate environment REUTERS New York US fund firms are taking extra measures to make sure they don’t get stuck holding hard-to-sell bonds in the event that fixed income markets
      REUTERS  -  912 words
    • 621 18 BLOOMBERG Hong Kong CHINA’S banks, already saddled with mounting bad debt, face the risk of sagging profit growth after an interest-rate cut slashed their margins on loans but some investors are getting more optimistic, not less, about the outlook for the
      BLOOMBERG; PHOTO: BLOOMBERG  -  621 words
    • 650 19 It will anchor EU’s 300 billion-euro investment programme, say officials BLOOMBERG Brussels THE European Union is planning a 21 billion-euro (S$33.97 billion) fund to share the risks of new projects with private investors, two EU officials have said. The new entity is designed
      BLOOMBERG  -  650 words
    • 527 19 Judge agrees to delay trial until July 6 AFP Hong Kong A BRITISH banker accused of killing two Indonesian women was on Monday ruled fit to stand trial, but there will be a delay of months as prosecutors comb over forensic
      AFP; PHOTO: AFP  -  527 words
  • Page 18 Advertisements
    • 536 18 THE BUSINESS TIMES Ik 1 S 1 Toll free 1800-289-8822 I fl I I Email notices@sph.com.sg J I V i I www.sphclass.com.sg/notices INDUSTRIAL GOVERNMENT LAND SALES: LAND PARCELS AT TUAS AND TAMPINES J^sso UTH AVenue PLOT 40 Site Information Tuas Location Land Area Tenure GPR Zoning Project Completion Period Tuas
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  • ENERGY & COMMODITIES
    • 696 20 Bribery probe hampers borrowing in international debt markets until producer provides audited results BLOOMBERG Sao Paulo THE widening corruption probe at Petroleo Brasileiro SA is threatening to impair its ability to finance the world’s biggest oil investment plan. The state-controlled producer, which delayed releasing
      BLOOMBERG; PHOTO: AFP  -  696 words
    • 608 20 BLOOMBERG Hong Kong AN oilfield service joint venture set up by Schlumberger Ltd and Anton Oilfield Services Group will fire some staff after the partnership failed to win enough contracts. Sichuan-based Tongzhou IPM Services Co, setup in September 2012, will fire some employees to cut
      BLOOMBERG  -  608 words
    • 287 20 AFP Sydney BHP Billiton on Monday outlined plans to cut costs further as the world’s biggest miner battles falling commodity prices, pointing to its planned demerger as helping to drive productivity gains. The Anglo-Australian resources group is aiming to simplify and strengthen
      AFP; PHOTO: BLOOMBERG  -  287 words
    • 425 20 REUTERS London THE European oil refining industry would be better off with just 60 plants, a cut of around 40 per cent from today’s number, a report from Dutch bank ING said on Monday, but the risk that inefficient refineries will
      REUTERS  -  425 words
  • Page 20 Advertisements
    • 70 20 12th edition 19 22 March 2015 Singapore EXPO Hall 6 11am 10pm Daily Participate in Singapore’s MEGA Food Beverage Fair Sell local international food products to over 250,000 visitors during the March school holiday period! Book Your Space NOW! *Limited Booths Available! For more information, call *****620 or email to
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    • 21 20 www.omy.sg OM M. *9 1 Buzz Talk illi P K-ljD pj news.omy.sg Download omy Apps omy News iOS AppStore Google Play
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  • TECHNOLOGY
    • 726 21 But lawmakers’ move to break up search giant shows level of antagonism it confronts BLOOMBERG Luxembourg A EUROPEAN Parliament bid for legislation splitting up Google Inc may send a message that’s too loud to ignore as European Union (EU) antitrust regulators
      BLOOMBERG; PHOTO: BLOOMBERG  -  726 words
    • 408 21 AFP Washington A HIGHLY sophisticated cyberspying tool has been used since 2008 to steal information from governments, businesses and others, security researchers said on Monday. Security firm Symantec said the malware, known as Regin, was seen “in systematic spying campaigns against
      AFP  -  408 words
    • 322 21 BLOOMBERG London THE UK government will introduce legislation that will require Internet companies to provide user data to authorities to help identify potential terrorists and criminals as part of new wide-ranging security powers. “The terrorism legislation that we’re going to be introducing
      BLOOMBERG  -  322 words
  • Page 21 Advertisements
    • 172 21 .comdirectory YOURGANGWAY COMINGSOON! TOAN OCEANOFBUSINESSOPPORTUNITIES! The Business Times/Shipping Timesis opening up an exciting new “trade route” for businesses catering to the maritime, shipping and related industries with the upcoming launch of its Maritime And Shipping Directory. Here’s how this new advertising platform can help your business make a splash in
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    • 155 21 WORLD’S FINEST SERVICED OFFICES SERVICED OFFICES For the 1-10 person business Fully furnished prestigious offices Business registration offices available Sea View Offices Available Now; First 3 Months Free on a 6 Month Lease Dedicated receptionist answering your calls the way you would like Meeting rooms, bilingual secretaries Global IT infrastructure
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  • CONSUMER
    • 986 22 Efforts include use of wrappers designed to be reclaimed, reused or composted NYT London BRITISH supermarkets are selling beer in glass bottles that are a third lighter than they were a few years ago. Unilever, which makes products such as Dove cleansers and
      NYT  -  986 words
    • 609 22 BLOOMBERG New York AS falling petrol prices and a growing job market afford consumers more spending cash heading into the holidays, investors are positioning for retailers like Walmart Stores Inc to reap the benefits. Demand for options that protect against future losses
      BLOOMBERG; PHOTO: AFP  -  609 words
  • Page 22 Advertisements
    • 116 22 for our AWARD-WINNING NEWSLETTER! Don’t have much time to read but want to stay on top of the news? Join over 90,000 people who get fresh stories from The Straits Times every day from our free newsletter. The newsletter, ST Daily News, is sent to your e-mail inbox by 7.30am
      116 words

  • CORPORATE GOVERNANCE PRACTICES
    • 1470 23  -  Singapore leads the region when it comes to corporate governance requirements, but challenges still remain.BY A GLOBAL PERSPECTIVE remain.BY FRANCIS KAN SINGAPORE has come out tops in terms of corporate governance (CG) standards in the Asia-Pacific, and is in a good position to support its
      FILE PHOTO  -  1,470 words

  • GOVERNMENT & ECONOMY
    • 582 24 The threat from the Islamic State would require different skills from what Mr Hagel possesses, officials say REUTERS NYT Washington DEFENSE Secretary Chuck Hagel has resigned, US officials said on Monday, ending nearly two years in the Pentagon’s top job. Mr Hagel, who had
      REUTERS; NYT  -  582 words
    • 636 24 REUTERS Shanghai A BID by China to rein in its ‘shadow banking’ activity is producing results, thanks to slowing economic growth and tighter regulation. But some success for a policy drive to curb risky lending is not all good news
      REUTERS; PHOTO: REUTERS  -  636 words
    • 596 24 BLOOMBERG Paris MARIO Draghi is about to find out just how urgent his call for action has become. One week after the European Central Bank president vowed to revive inflation “as fast as possible”, policy makers will receive a
      BLOOMBERG  -  596 words
    • 383 24 REUTERS New Delhi THE United States wants to step up its trade dialogue with India, Trade Representative Michael Froman said on Monday, after the resolution of a global trade dispute paved the way for President Barack Obama to visit India. Direct
      REUTERS; PHOTO: REUTERS  -  383 words
    • 443 24 AFP Frankfurt BUSINESS confidence in Germany appears to be stabilising after long months of decline, with the Ifo business climate index rising in November for the first time in seven months, data showed on Monday. In an encouraging sign for Europe’s biggest economy, and
      AFP  -  443 words
    • 214 24 REUTERS Beijing CHINA is set to make executives at its biggest state-owned firms publicly reveal their salaries, the state-run Economic Information Daily reported on Monday, the latest in a series of reforms aimed at boosting corporate efficiency and transparency. Payment disclosure, which will apply
      REUTERS  -  214 words
    • 580 25 World Bank says sharp temperature rises would cut crop yields, water supplies AFP Washington CLIMATE change could undermine efforts to defeat extreme poverty around the globe, the World Bank warned Sunday. In a new report on the impact of global warming, the bank said
      AFP; PHOTO: REUTERS  -  580 words
    • 690 25 REUTERS Paris THE countdown has begun to what threatens to be a missed opportunity to revive Europe’s stalled economy. When European Union leaders meet on Dec 18-19 under new management, they have a chance to launch a joint assault on the economic stagnation
      REUTERS  -  690 words
    • 474 25 BLOOMBERG Melbourne AUSTRALIA raised A$5.68 billion (S$6.4 billion) selling shares of Medibank Private Ltd in the country’s sec-ond-largest initial public offering (IPO). The government sold about 2.7 billion shares in the nation’s biggest health insurer at A$2.15 apiece for institutional investors and A$2 for individuals, Finance
      BLOOMBERG; PHOTO: BLOOMBERG  -  474 words
    • 409 25 BLOOMBERG Copenhagen AFTER witnessing Europe’s biggest leap in income disparities during the debt crisis, the finance minister of Denmark says there needs to be a more nuanced approach to tackling inequality. “There’s room to make Denmark a place where it’s
      BLOOMBERG  -  409 words
    • 679 25 AFP Washington NESTLED in President Barack Obama’s plan to overhaul aspects of the US immigration system are tweaks to rules for high-skilled workers long frustrated with hurdles to getting work or residency approval. The tech and medical sectors especially have
      AFP  -  679 words


  • TRANSPORT
    • 1095 26 The region is benefiting from cheap coal prices and environmental opposition to building terminals in the west Coast BLOOMBERG Chicago WHEN it comes to exporting American coal, the West Coast’s loss is the Gulf Coast’s gain. While environmental opposition has stymied plans to
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,095 words
    • 783 26 BLOOMBERG New York THE first time Carl Dietrich brought his flying-car concept to the Experimental Aircraft Association’s annual AirVenture gathering in Oshkosh, Wisconsin, he had only a video to show the aviation geeks who wandered by his modest stall. The
      BLOOMBERG  -  783 words
    • 699 26 BLOOMBERG Mexico City MEXICO’S German auto history began with small, cheap cars. Now it’s becoming a place where top-of-the-line German brands roll out of billion-dollar factories. By decade’s end, Mexico will claim fourth place worldwide for German luxury car output after the
      BLOOMBERG  -  699 words
    • 365 26 REUTERS Cape Canaveral, Florida A RUSSIAN Soyuz rocket blasted off from the Baikonur Cosmodrome in Kazakhstan on Sunday to deliver three new crew members to the International Space Station, including Italy’s first female astronaut. A Soyuz capsule carrying incoming station
      REUTERS  -  365 words
  • Page 26 Advertisements

  • 977 27 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville APL Riyadh 060E 25 Nov 19 Dec 02 Jan 06 Jan 09 Jan 12 Jan 14 Jan 15 Jan 19 Jan 21 Jan 21 Jan 26 Jan
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  • Page 27 Advertisements
    • 222 27 USE THIS SPACE TO SELL CALL JOE WONG AT *****327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced sh/p maintenance services wanted. Can they find your services here in the Shipping Times? Tim Business times TO ADVERTISE, CALL JOE WONG AT 9620 1327 Publicise Your Del ivery Of Newbuilds v
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  • OPINION
    • 510 28 EDITORIAL ACCORDING to reports from Washington, Republican lawmakers, buoyed by their electoral successes in the mid-term elections, are considering using their power to control the purse strings to determine whether or not the US federal budget is approved as
      510 words
    • 854 28  - Rock-bottom economics when the rules no longer apply THE BOTTOM LINE By Paul Krugman NYT SIX years ago the Federal Reserve hit rock bottom. It had been cutting the federal funds rate, the interest rate it uses to steer the economy, more or less frantically in an unsuccessful attempt to
      NYT  -  854 words
    • 1099 28  -  Holding of properties from all over the world by Singapore property trusts means that the market has been able to grow beyond expectations. BY TAN KOK HUAN expectations.BY TAN KOK HUAN T The writer is managing director, capital markets, at DBS Bank SEVEN
      PHOTO: BLOOMBERG; Source: Bloomberg as at Oct 31, 2014, World Federation of Exchanges  -  1,099 words
    • 757 29  -  COMMENTARY By Nick Cunningham A S November draws to a close, there are two major events that could profoundly change the oil markets. With the clock ticking, the five permanent members of the UN Security Council plus Germany (P5 plus
      757 words
    • LETTERS TO THE EDITOR
      • 699 29  -  Mak Yuen Teen I REFER to the letter “Several factors shape the performance of directors” (BT, Nov 18). This was a reply to my earlier letter, “Are busy directors cutting corners or really supermen in suits?” (BT, Nov 7), which raised some issues with the
        699 words
      • 261 29  -  Bobby Jayaraman LOW retail participation in the stock market has been a source of concern lately, and a variety of proposals have been put up to remedy this. One fundamental area which has not been discussed much is the current practice of
        261 words
      • 462 29  -  Tan Kok Tim JAPAN and US have pledged a total of US$4.5 billion to the United Nations’ US$10 billion Green Climate Fund (GCF). If the 200 countries can give on average US$500 million each, the GCF will have US$100 billion. The
        462 words
    • 892 29  -  Partnership will boost prospects of global pact next year with benefits for both.BY JOHN PRESCOTT and ANDREW HAMMOND both.BY JOHN PRESCOTT, ANDREW HAMMOND T John Prescott was formerly UK deputy prime minister, and Europe’s chief negotiator at Kyoto in 1997. Andrew Hammond
      PHOTO: REUTERS  -  892 words


  • LIFE & CULTURE
    • 677 30  -  Republic one of four Asian cities to host the International Premier Tennis League By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore HE dazzled the crowds at the Singapore Indoor Stadium back in 1997 and 1998 by winning the doubles event at the Heineken
      FILE PHOTO  -  677 words
    • 1005 30 NYT Santa Monica, California WITH its cutting-edge social media campaigns for The Hunger Games, the tiny 27-person marketing department at Lionsgate has become a model for Hollywood’s legacy studios: scrappy, thrifty, forward-thinking. But is the “Lionsgate way” even possible for the old guard
      NYT; FILE PHOTO  -  1,005 words
  • Page 30 Advertisements
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  • Page 30 Miscellaneous
    • 328 30 CRYPTIC CROSSWORD Across 7 Argument that could take its toll? (4-4) 9 Motive in crime not originally detected (6) 10 Promise revealed in part of sentence? (4) 11 Brazen, having spent too much time in hot water? (4-6) 12 Bit of change in mined material (6) 14 Works of art,
      328 words

  • SME
    • 1009 31 Over the years, iSPRINT has supported over 8,000 SMEs in their tech journeys. One of them is Old Street Bak Kut Teh, which deployed an e-menu system to improve productivity and help its business grow WITH its mosaic flooring, rustic beams and dark wooden wall
      PHOTO: IDA  -  1,009 words
    • 907 31  -  COMMENTARY By Ong Joo Sun T The writer is director of finance/regional controller, Nanyang Inc, and a qualified associate chartered management accountant, accredited by the Chartered institute of Management Accountants (CIMA) since 1991 AS Singapore continuously strives to maintain its position as
      907 words
  • Page 31 Advertisements
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