The Business Times, 11 December 2014

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Total Pages: 26
1 26 The Business Times
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  • Title Section
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    28 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 Thursday, December 11
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  • Article, Illustration
    Lock icon TT DAILY DIGEST
    242 1 Bad news continued to dog Japan’s economy on Wednesday: a third international rating agency cast doubts on the country’s sovereign debt standing, wholesale prices were shown to have fallen last month, and a business survey revealed deteriorating sentiment among large Japanese manufacturing companies.TOP STORIES 4 Singapore banking
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  • Article
    Lock icon MARKETS
    26 1 Wednesday Change STI 3,325.81 (+5.97) KL COMP 1,765.52 (+27.42) NIKKEI 225 17,412.58 (-400.80) HANG SENG 23,524.52 (+38.69) SHENZHEN B 1,019.63 (+25.95) DOW(noon EDT) 17,685.62 (-115.58)
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  • Article, Illustration
    Lock icon Iata forecasts record profits for airlines as fuel costs dive
    877 1  -  US carriers are expected to fare the best in 2014, and Asia-Pacific airlines next best, with oil prices 20% down from 2013 By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Geneva LIFTED by slumping oil prices and stronger global GDP growth, the world’s
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  • Article, Illustration
    Lock icon Keppel Club hit by shock discovery of 1,000 “phantom” members
    523 1  -  Case is said to be under investigation by police, CAD; details remain sketchy By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore THE over 100-year-old Keppel Club has been rocked by a recent shocking discovery of “phantom” memberships involving over 1,000 accounts at
    THE BUSINESS TIMES FILE PHOTO  -  523 words
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      77 1 *****4 CLOSED-END FUND US$100m fund to target China media market COMPANIES MARKETS 6 EUROZONE CRISIS Greece bonds and stocks tumble RESIDENTIAL PROPERTY Rents of private condos and HDB flats soften REAL ESTATE 11 TOP STORIES 2 MOUNTAIN DAY 2014 The Himalayas are a lifeline and must be sustained OPINION 25
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  • TOP STORIES
    • Article, Illustration
      Lock icon Greece bonds and stocks tumble, warning of ever-present eurozone crisis
      666 2  -  The European Commission, ECB and IMF say Athens hasn’t made enough reforms to qualify for a bailout By Neil Behrmann btworld@sph.com.sg London POLITICAL uncertainty in Greece is once again threatening to plunge the eurozone into crisis. Prices of Greek stocks
      PHOTO: BLOOMBERG  -  666 words
    • Article
      Lock icon BP to cut jobs amid falling oil prices
      292 2 Company is also considering further cuts to its 2015 spending programme REUTERS London BP will cut hundreds of jobs across its global oil and gas business by the end of next year in a US$1 billion restructuring programme announced on Wednesday following
      REUTERS  -  292 words
    • Article
      Lock icon China’s November price gain weaker than expected; deflation risk rises
      547 4 REUTERS Beijing CHINA’S annual consumer inflation eased to a five-year low of 1.4 per cent in November, signalling persistent weakness in the world’s second-largest economy and giving policymakers more room to ease policy to support growth. Beijing is increasingly concerned
      REUTERS  -  547 words
    • Article, Illustration
      Lock icon More negative news on the economy surfaces in Tokyo
      608 4  -  Fitch’s doubts on the sovereign debt standing of Japan, among other things, make Abenomics a tougher sell ahead of election By Anthony Rowley btworld@sph.com.sg Tokyo BAD news continued to dog Japan’s economy on Wednesday: a third international rating agency cast doubts
      PHOTO: BLOOMBERG  -  608 words
    • Article, Illustration
      Lock icon Asean corporate chiefs discuss building more effective trade ties with South Korea
      501 4  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Busan, South Korea BUSINESS leaders from all 10 countries in the Association of South-east Asian Nations (Asean) met formally with South Korea’s largest private economic organisation for the first time on Wednesday. The
      THE STRAITS TIMES FILE PHOTO  -  501 words
    • Article, Illustration
      Lock icon Institutional investors see more activism, but question its long-term value
      583 5  -  Management quality and corporate strategy viewed as key factors in valuing investment, poll shows By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore SHAREHOLDER activism is on the rise, but it could compromise long-term value creation, institutional investors said in a global poll
      Source: MSL Group  -  583 words
    • Article
      Lock icon China on the horns of a volatility dilemma
      393 5 &SH REUTERS BREAKINGVIEWS Beijing CHINA’S gyrating stock markets are a reminder that movement matters. Volatility is increasing in the People’s Republic, and fighting it is a losing battle. Prices of stocks have tumbled in recent days, but that alone isn’t frightening. Equity
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      247 2 X x Exchange Traded Funds A wide range of investments in global markets. And the award-winning research to help you decide. An Exchange Traded Fund (ETF) spreads risk by investing in a diversified portfolio of securities. At the same time, it can be traded easily and quickly like a single
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      152 4 3 Star Hotel For Sale Nusajaya, Johor TO TO m rrr n TO nr TO n m uv U rr m TO r n TO Location 3 minutes to Legoland, Medini Educity, ascendas Industrial Park 5 minutes to Tuas Checkpoint, Puteri Harbour, Kota Iskandar Propose HSR Station. Land area -1.65
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      17 4 Discover Greener Pastures Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices
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      306 5 'FUTURE m t I I I I I I I M CHINA I ADVANCED LEADERS PROGRAMME Grooming future leaders to ho “Chino-sq] and Connected” 11 Despite having first-hand experience of the cultural differences during my five years in China, I still find the course very enlightening as it equips us
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      33 5 China eyeing foreigners to tame equity volatility, Page 22 The art of things chosen well rather than often. 44 4 p M V u* I 1 THE BARBARA BARRY COLLECTION PARAGON 04-42 WWW.PROOF.COM.SG
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon SGX-TWSE cross-trading could start in July: report
      592 6  -  Taiwan bourse president says partnership was prompted by success of Shanghai-HK link By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore CROSS-TRADING between the Singapore Exchange (SGX) and the Taiwan Stock Exchange (TWSE) could commence as early as July next year, TWSE president Michael Lin
      PHOTO: BLOOMBERG  -  592 words
    • Article
      Lock icon Popular posts S$1.25m Q2 profit; warns of property blues
      347 6  -  By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore POPULAR Holdings managed to eke out a second-quarter net profit despite a fall in turnover. But it warned of difficulties in selling its property units amid the property cooling measures and of the extra
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    • Article
      Lock icon Much more expected of Asia-Pac CFOs: study
      451 6  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore MORE than seven in 10 Asia-Pacific chief executive officers (CEOs) expect their chief financial officers (CFOs) to go beyond being number crunchers, a study has found. A KPMG survey which polled 178 CEOs, managing directors, business owners
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    • Article
      Lock icon US$100m fund to target China media market
      640 6  -  Fund launched by China film producer Yu Dong, Tembusu Partners and former NMP Calvin Cheng By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore NOTED Chinese film producer Yu Dong, local private equity firm Tembusu Partners and former nominated member of parliament Calvin Cheng have teamed
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    • Article
      Lock icon Barclays prefers Reits with strong distribution buffer
      487 7  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore DON’T dump the Reits just yet. Those with generous yield spreads can still cushion against higher interest rates, set to come through in the second half of next year, a Barclays equity outlook report this week showed.
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    • Article
      Lock icon iFast IPO 12.4 times subscribed, debuts Thursday
      361 7  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore INTERNET-BASED fund distribution company iFast Corporation debuts on the Singapore Exchange (SGX) mainboard at 9am on Thursday with its initial public offering (IPO) about 12.4 times subscribed. For the 2.8 million shares available to the public at
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    • Article
      Lock icon Charoen planning to start due diligence on United Engineers: sources
      250 7 BLOOMBERG Singapore THAILAND’S richest man Charoen Sirivadhanabhakdi is poised to start examining the finances of United Engineers Ltd (UEL), people with knowledge of the matter say, laying the groundwork for a potential acquisition of the Singapore property and construction company.
      BLOOMBERG  -  250 words
    • Article, Illustration
      Lock icon Banks shine, with UOB hitting all-time high
      303 7  -  All three local banking groups were in the top 10 by trading value on Wednesday By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore SINGAPORE banking stocks were back in the limelight on Wednesday, with United Overseas Bank (UOB) hitting a record high and DBS Group
      Source: Bloomberg  -  303 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 8 STI Catalist Straits Times index Dec 10,2014 3,325.81 +5.97 (+0.18%) Current streak 2 days Day high 3,336.47 Day low 3,315.88 52-week high 3,374.06 (July 31, 2014) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist index Dec 10,2014 736.00 +9.33 (+1.28%) Current streak 1 day Day high 738.42 Day low
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    • Article, Illustration
      Lock icon Play on banks continues to drive STI
      614 8  -  Wednesday’s six-point gain, following Tuesday’s 22-point rebound, means the index has recovered from Monday’s 27-point loss STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT CONTINUED play on the banks helped nudge the Straits Times Index (STI) up 5.97 points to 3,325.81 on Wednesday, which, when
      Source: Bloomberg  -  614 words
    • Article
      Lock icon STI STOCKS
      307 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 236 +5 237/230 250 206 6 5963 CapitaLand 329 +1 332/328 348 268 16.5 2.4 ***** CapitaMall Trust 200 +1.5 201/199 209 180 5.1 6936.6 CityDev 1002 +2 1012/1000 1118 860 13.6
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    • Article
      Lock icon MOST ACTIVE
      37 8 VOLUME IHC 67,527,000 SIIC Environment 66,623,000 Golden Agri-Res 63,398,000 Pacific Century 51,291,000 APAC Strategic 39,512,000 Market volume 1,449,349,000 VALUE SingTel 110,127,926 DBS Grp 72,601,930 UOB 64,650,632 Global Logistic 63,393,175 Keppel Corp 60,284,425 Market value 1,117,397,000
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    • Article
      Lock icon SGX ETFs
      109 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS India US$ US754 -9 546 756/750 790/541 753/759 94.3 UETF SSE50China 209 +14 466 209/192 217/140 205/207 65.3 DBXT CSI300 US$ US915 +39 189 915/859 958/613 912/915 IS ASIA HYG US$ US1060 -14 36
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Dec 10 VALUE CLOSE BT OB/OS -697.00 +57.00 BT CADI -*****.00 +79.00 BT 10-day MA -*****.00 -69.00 FTSE ST Mid Cap 741.95 +2.15 FTSE ST Small Cap 491.76 +2.50 FTSE ST All Share 796.62 +1.73 FTSE ST China Top 184.07 -0.90 FTSE ST China 220.11 -2.02 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 8 STI FTSE ST All-Share FTSE ST All-Share Index Dec 10,2014 796.62 +1.73 (+0.22%) Current streak 2 days Day high 798.44 Day low 794.25 52-week high 819.39 (July 31, 2014) 52-week low 722.35 (Feb 5, 2014)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE Index Dec 9,2014 1,811.38 -13.36 (-0.73%) Current streak 2 days Day high 1,828.10 Day low 1,806.76 52-week high 1,995.49 (July 3, 2014) 52-week low 1,714.64 (Oct 16, 2014)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 2 5 0 0 0 8 2 5 Manufacturing 55 37 33 8 8 8 63 45 41 Commerce 12 19 24 6 4 3 18 23 27 Tpt/Stor/Comms 24 8 10
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 20,046 20,046 95,317 95,317 Manufacturing 136,495 32,266 168,761 84,371 4,378 88,750 Commerce 68,215 17,213 85,428 58,729 1,080 59,809 Tpt/Stor/Comms 123,898 851 124,749 209,908 307 210,215 Finance 70,066 40 70,106 233,621 8 233,629 Construction 20,473 22,584
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    • Article
      Lock icon GAINERS
      71 8 BY CENTS CLOSE UP 52w high/low GLD US$ ***** 283.7 1.9 *****/***** DBXT CSI300 US$ 915 51.2 4.5 958/613 UOB.ES.1412 2456 37.0 1.5 2458/2382 UOB 2468 29.0 1.2 2470/1940 SIA 1144 24.0 2.1 1144/941 BY PERCENTAGE CLOSE UP 52w high/low Advance SCT 0.2 100.0 0.1 0.6/0.1 Allied Tech 3.4
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    • Article
      Lock icon LOSERS
      73 8 BY CENTS CLOSE DOWN 52w high/low JSH USD 3368 -105.1 -2.3 3810/3006 JMH USD 5840 -78.8 -1.0 6460/4934 DBXT MSTHAI US$ 2101 -68.3 -2.4 2225/1620 Jardie C&C 4286 -67.0 -1.5 4901/3330 Lyxor Europe US$ 1440 -64.4 -3.3 1678/1361 BY PERCENTAGE CLOSE DOWN 52w high/low TopGlobal W*****9 0.1 -50.0 -0.1
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    • Article
      Lock icon UNUSUAL ACTIVITY
      82 8 VOL CLOSE($) CHANGE China Essence 4,056.0 0.003 -0.002 -40.00 Allied Tech 180.0 0.034 +0.010 +41.67 ES 348.0 0.121 -0.058 -32.40 Pacific Century 51,291.0 0.270 +0.015 +5.88 Novo 100.0 0.235 +0.025 +11.91 Fuxing China 100.0 0.017 -0.003 -15.00 AnnAik 30.0 0.090 -0.011 -10.89 Sunright 15.0 0.145 -0.027 -15.70 KS
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    • BROKERS’ TAKE
      • Article
        Lock icon SingTel
        121 8 BUY Dec 10 close: S$3.93 Target price: s$4.32 UOB Kay Hian Research, Dec 10 SINGAPORE Telecommunications (SingTel) is benefiting from growth in Indonesia and India. Competition has eased since the industry consolidated to four players with XL Axiata completing the acquisition of Axis in March 2014. Telkomsel has raised
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      • Article
        Lock icon SIIC Environment
        157 8 BUY Dec 10 close: S$0.143 Target price: S$0.20 Maybank Kim Eng Research, Dec 10 CIC has cleared all its 660 million shares in SIIC at S$0.149 apiece, by placing them out on Dec 5. The selling price as at an 8 per cent discount to SIIC’s Dec 4
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      • Article
        Lock icon Neptune Orient Lines
        183 8  -  Compiled by Teh Shi Ning OVERWEIGHT Dec 10 close: S$0.835 Target price: S$0.95 Barclays Equity Research, Dec 9 WE upgrade our rating for Neptune Orient Lines (NOL) to “overweight” from “equal weight” as we now see value emerging after the 20 per cent decline in share price
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      • Article
        Lock icon CALENDAR
        9 8 DATA I 9.30 pm US initial jobless claims
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    • Article
      Lock icon Euro up but kept in check by Greece’s situation
      390 9 CURRENCIES REUTERS London THE euro edged higher against the US dollar on Wednesday, but investors remained nervous over an uncertain political situation in Greece and some looked to sell into any bounce in the single currency. The euro was up 0.15
      REUTERS  -  390 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Dec 10 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.952 5.137 0.672 6.449 51.613 102.565 0.991 9.178 2.891 1.080 83.978 37.157 1.093 9.528 0.807 25.980 27.319 0.530 0.832 Canada 1.050 5.393
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      • Article, Illustration
        Lock icon HANG SENG
        2 9
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 9
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      • Article, Illustration
        Lock icon DOW JONES
        2 9
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 9 Dec 10 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0925 1.0929 0.8319 0.8321 Canadian dollar 1.1469 1.1476 0.8737 0.8733 Euro 1.6268 1.6273 1.2387 1.2390 NZ dollar 1.0116 1.0124 0.7703 0.7708 Sterling pound 2.0599 2.0606 1.5685 1.5689
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Dec 10 S$ Bid Offer 1-month 1.3135 1.3138 2-months 1.3141 1.3143 3-months 1.3142 1.3145 6-months 1.3144 1.3148 Source: OCBC
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      • Article, Illustration
        Lock icon NIKKEI
        1 9
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        202 9 Most active Dec 10 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left KepCorp MB eCW*****2 9.3 1.1 7482 0.2 900 6 Top Global Ltd W*****9 0.1 -0.1 4036 DBS MB eCW*****2 12.4 0.1 2950 0.1 0 6 OCBC Bk
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 9 In local curr In S$ In US$ dy yr dy yr dy yr Dec 9 Index Change Change Change Change Change Change World Preliminary 1269.9 -1.1 7.2 -1.1 7.5 -0.7 3.2 EAFE Preliminary 990.1 -1.7 3.5 -1.1 -1.5 -0.7 -5.4 Europe Preliminary 1381.0 -2.1 1.9
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        368 9 Dec 10 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.35 *****.14 *****.82 Dec14 *****.00 *****.00 *****.00 *****.00 *****7 *****3 Mar15 *****.00 *****.00 *****.00 *****.00 *****2 *****9 MSCI TAIWAN INDEX FUTURES SPOT 337.40 338.51 333.21 Dec14 337.40 337.60 332.30 333.80 ***** *****8 Jan15 337.20
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    • BANK RATES
      • Article
        Lock icon SIBOR
        36 9 Dec 10 (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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      • Article
        Lock icon INTERBANK RATES
        154 9 Dec 10 $S Offer Bid 0vernight 0.03 Par 1-month 0.4375 0.3125 2-months 0.4375 0.3125 3-months 0.4375 0.3125 Overnight mode: 0.05 US$ 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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      • Article
        Lock icon GOVERNMENT SECURITIES
        65 9 Dec 10 Dec 10 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105.4 105.42 105.42 5-Year N*****0H 1.625 01-Oct-19 100.55 10-Year NY*****H 3.000 01-Sep-24 106.54 106.70 106.60 15-Year NY*****E 2.875 01-Jul-29 103.85 103.80 103.80 20-Year NZ*****V 3.375 01-Sep-33 109.52
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        212 9 Dec-9 Price Net change change Last Trade Agricultural Dec-9 CBOT Soybeans (US cents/bu) 1049.25 5.50 0.53% 14/01/2015 CBOT Soybean Oil (US cents/lb) 31.91 0.14 0.44% 12/12/2014 CBOT Wheat (US cents/bu) 600.50 -9.50 -1.56% 12/12/2014 Dec-9 LIFFE Cocoa (£/tonne) 1999.00 19.00 0.96% 12/12/2014 LIFFE Coffee (US$/tonne) 1994.00 -20.00 -0.99%
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      • Article
        Lock icon PALM OIL
        57 9 Dec 10 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 14 2125.0 2140.0 2145.0 2125.0 66 1706 Jan 15 2137.0 2168.0 2170.0 2137.0 3034 ***** Feb 15 2147.0 2175.0 2179.0 2138.0 ***** ***** Mar 15 2150.0 2179.0
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    • Article
      Lock icon AP Strategic buys stake in LionGold’s former gold project
      423 10  -  Buyer says acquisition allows it to invest in highly prospective mineral mining business By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore ASIA-PACIFIC Strategic Investments has picked up a stake in LionGold's former Amayapampa Gold Project in Bolivia. The firm, which is currently in
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    • Article
      Lock icon Huan Hsin sells joint-venture stake to partner
      407 10  -  It’ll sell 51% stake in Hefei Baolong Hsin Tech to Shenzhen Bitland for 6.19m yuan By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore HUAN Hsin Holdings, a contract manufacturer of telecom and electronic products, is selling its controlling stake in a joint venture in a
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    • Article
      Lock icon QT Vascular’s US unit gets S’pore catheter patent
      392 10  -  Product is a balloon catheter with improved column strength and torque By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore SINGAPORE-BASED QT Vascular’s wholly owned US subsidiary, TriReme Medical LLC, has been granted a Singapore patent for its “balloon catheter with improved column strength and
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      Lock icon Page 6 Advertisements Column 1
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      Lock icon Page 6 Advertisements Column 2
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      142 7 E X P E R I E N C E THE NEW LUXURY BTLuxe Christmas 2014. In print and onyour iPad. Digital exclusives only in the BTLuxe iPad app: The Great Safari Adventure Visit the House of Laurent-Perrier Download it now for free at the App Store Luxe Win a
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      282 10 There are more ways to read The Straits Times Read it on Print, Online, Tablet or Smartphone wherever you are at any angle. o HOLD TILT STAND HANG Subscribe* now to The Straits Times All-in-One PLUS package for 36 months and receive the Lenovo* Yoga Tablet 2 (8") WiFi (UP.
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  • REAL ESTATE
    • Article
      Lock icon Rents of private condos and HDB flats soften
      576 11  -  Reacting to SRX Property’s November flash estimates, consultants say they expect further weakening of rents in 2015 from supply glut and lower demand By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore RENTS of private condos continued to soften in November, largely within the expectations
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    • Article
      Lock icon For sale: Thong Sia Building at S$400-420m
      460 11  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore FREEHOLD commercial and residential property Thong Sia Building, near the Paragon shopping mall, has been put up for sale for the first time since it was built in 1981 and the vendors are expecting offers of between
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    • Article
      Lock icon Watergate Hotel to host its first guests in 7 years
      277 11 WP Washington THE new owners of the Watergate Hotel in Washington plan to reopen it next summer, hoping to draw luxu-ry-seeking travellers to a location in the infamous complex that has been closed for years after a previous redevelopment effort
      WP  -  277 words
    • Article
      Lock icon New Syscon facility to double prefab output
      419 12  -  S$120 million plant in Tuas will enable firm to produce up to 3,000 prefabricated bathroom units a year By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore PRECAST panels manufacturer Syscon has said that it is expanding its current production facility. This will double its capacity
      419 words
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      Lock icon HK shop rents seen falling on tighter wallets
      1336 12 BLOOMBERG Hong Kong SHOP rents in Hong Kong are set for their worst year since the global financial crisis as mainland Chinese visitors spend less amid a slowing economy and the nation’s antiextravagance drive. Retail rents in the city were the world’s
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,336 words
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      Lock icon Spain builds again 6 yrs after property crash
      735 13 Home building is up despite huge stock of unsold homes as many of these empty dwellings are not in urban areas AFP Madrid WHEN Spain’s property bubble burst in 2008, the country was plunged into an economic crisis that threw millions of
      AFP; PHOTO: BLOOMBERG  -  735 words
    • Article
      Lock icon Where Carlyle is found wanting, Blackstone rocks in real estate
      1178 13 BLOOMBERG New York FIFTY kilometres south of London, residents of Tunbridge Wells are disgusted. Their ire is directed at Carlyle Group, which with Bellhouse Joseph Ltd bought a dilapidated cinema building in 2011 and then failed to develop the site.
      BLOOMBERG  -  1,178 words
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      Lock icon Investors step up funding as Australian banks waver
      662 14 They take on more credit risks to sustain returns after central bank cuts benchmark interest rates to record lows BLOOMBERG Sydney AUSTRALIAN bond yields near record lows are encouraging wealthy investors to lend to owners of properties from offices to shops and
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    • Article
      Lock icon Househunt
      1480 14 Property transactions for districts 1 to 28 with contract dates between Oct 29 and Nov 4,2014 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 One Residences Apt 31/10/2014 99 980 2042 2085 Marina One Residences Apt 03/11/2014
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      Lock icon Aussie banks urged to curb growth in home loans to investors
      476 14 BLOOMBERG Sydney AUSTRALIA’S prudential regulator has called on banks to limit growth in home lending to investors to 10 per cent a year and said it will step up oversight of mortgages amid surging house prices in Sydney and
      BLOOMBERG  -  476 words
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      391 11 FREEHOLD HOUSES CLOSE TO CENTRAL LONDON WITH GARAGE PARKING 2.5 MILES FROM KENSINGTON HIGH STREET m N ITU It n ¥m CAPITAL f GAINS TAX FOR "I MAIN UK HOME V INVESTORS I EXCLUSIVE VIP EXHIBITION FOR SINGAPORE Private one-to-one meetings with our CEO Monty Nawaz open Monday to Saturday
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      163 12 KnightFrank.com.sg Alpine ctr Eunos Technolink Regent Ctr Ubi Ave 3 Eunos Lk Kaki Bt Rd 1 Ubi Rd 4 Kah Motors CAR SHOWROOM FOR SALE Strategically located in the motor vehicle district of Ubi with excellent frontage to Eunos Link and Ubi Ave 3 Land Area Approx. 52,107 sqft Gross
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      168 12 FREEHOLD SHOPHOUSE TANJONG KATONG ROAD A 2-storey Corner Conservation Shophouse m fit B Excellent Visibility Enjoys Dual Frontage fromTanjong Katong Rd and Wilkinson Rd Land Area: Approx. 2,026 sf Total Floor Area: Approx. 3,800 sf Zoned ‘Residential with Commercial at I st Storey’, GPR 3.0 Future Amber MRT Station (TE25)
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      82 12 Blow your own trumpet Buy new musical instruments or put up your old ones for sale in CLASS 72 To advertise, call the Print Classified Hotline: 1800-289 9988 Brand New Light Industrial off Raya Lebar I savills I .i* 11 For Lease Excellent location, 5-min walk to Raya Lebar MRT
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      196 13 En Bloc Sale of Thong Sia Building 30 Bideford Road opp The Paragon Freehold 26-storey tower with naming rights Landmark location 150 m to Orchard Road Corner plot; Land: 21,602 sf GFA: 156,303 sf Suitable for refurbishment or redevelopment 62,520 sf Commercial great for retail/medical* 93,780 sf Residential ideal for
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      205 13 HYsSUMIDA PARK RESIDENCE iW T 17.5% Guaranteed Rental Returns (5 yrs sublease guaranteed 100% freehold) 01 5% rtf /O Down Payment Est Completion Q1 2015 Located in the heart of 'f Tokyo Prices from f sgd286K !r r ifrdfeiZawR&l)* v. f Live near to the latest landmark of Tokyo, Tokyo
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon JPMorgan may need over US$20b to meet capital rule
      1060 15 Fed unveils plan to boost surcharges for eight large US banks beyond those already levied by global regulators BLOOMBERG New York JPMorgan Chase Co, already facing the highest capital surcharge under international rules, may need more than US$20 billion in additional
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,060 words
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      Lock icon Citigroup to book US$2.7b in legal expenses for Q4
      402 15 REUTERS New York CITIGROUP Inc will record US$2.7 billion in litigation expenses and another US$800 million in repositioning charges, leaving the third-largest US bank “marginally profitable” for the fourth quarter, its chief executive officer said on Tuesday. Michael Corbat’s announcement at
      REUTERS; PHOTO: BLOOMBERG FINANCE  -  402 words
    • Article
      Lock icon Distressed debt players drawn to India bad loans
      578 15 BLOOMBERG Singapore INDIA’S bad loans are drawing distressed debt specialists as policymakers get tough on delinquent borrowers and welcome foreign investment to spur the economy. SSG Capital Management Ltd, the Hong Kong-based fund manager founded by former traders from Lehman Brothers Holdings
      BLOOMBERG  -  578 words
    • Article
      Lock icon UBS eyes a tripling of assets with ‘super-teams’
      338 15 REUTERS New York UBS AG aims to triple the assets that its US wealth management clients keep in fee-based accounts within seven to 10 years, a top executive said on Tuesday. Like rivals such as Morgan Stanley and Bank of America’s Merrill
      REUTERS  -  338 words
    • Article
      Lock icon Swiss banks aim to make their country global yuan hub
      444 15 AFP Geneva SWITZERLAND’S banking sector, facing the end of the secrecy that was once the bedrock of its business, is turning to China as it seeks new markets for the future. “One of the first ports that the Swiss financial
      AFP  -  444 words
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      755 15 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF CLEARWATER CAPITAL PARTNERS SINGAPORE ADF FUND PRIVATE LIMITED (Co. Reg. No. *****8521C) At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 47 Hill Street #05-01, Singapore Chinese Chamber of Commerce Industry
      755 words
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  • ENERGY & COMMODITIES
    • Article
      Lock icon Asian oil traders’ move to Texas spells trouble for Opec
      953 16 Buyers are positioning themselves in anticipation that US Congress will soon lift export restrictions BLOOMBERG Tokyo AS US lawmakers debate whether to free up more than the tiny amount of oil output currently eligible for export, buyers from Asia are
      BLOOMBERG  -  953 words
    • Article, Illustration
      Lock icon Indonesia coffee exports to slide as local demand grows
      573 16 Vietnamese exports on the rise as Indonesia cuts back; both countries see faster growth domestically BLOOMBERG Hanoi COFFEE shipments from Indonesia, the third-biggest producer, will probably extend their decline in 2015 as domestic consumption increases in the world’s fourth most populous
      BLOOMBERG; PHOTO: AFP  -  573 words
    • Article, Illustration
      Lock icon KL tax on palm oil shipments seen staying at zero next month
      503 16 BLOOMBERG Kuala Lumpur PALM oil exports from Malaysia, which waived a levy on shipments for the final four months of 2014, will probably remain duty-free in January as average prices stay below a threshold for a tax to
      BLOOMBERG; PHOTO: BLOOMBERG  -  503 words
    • Article
      Lock icon Thai rubber farmers defy martial law with protest over low prices
      389 16 REUTERS Bangkok A SMALL group of around 50 rubber farmers gathered in Thailand’s southern province of Surat Thani on Tuesday to demand more support from the military-led government for rubber prices, in defiance of martial law. The law has
      REUTERS  -  389 words
    • Article
      Lock icon More beef from Down Under for US as droughts shrink herd
      268 16 BLOOMBERG Melbourne US DINERS are set to tuck into more beef and veal from Australia. Exports to the US from the third-largest shipper will jump 35 per cent to 360,000 tonnes in 2014-2015, the Australian Bureau of Agricultural and
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  • TECHNOLOGY
    • Article, Illustration
      Lock icon Uber drivers say US$130 can buy clean past as rape riles India
      822 17 Bribery flaw exposed in Uber’s requirement for drivers in India to submit character certificate endorsed by police BLOOMBERG New Delhi HOW much does it cost to buy a clean background check in India’s capital? Drivers for Uber Technologies
      BLOOMBERG; PHOTO: REUTERS  -  822 words
    • Article
      Lock icon Internet firms push to be left out of EU cyber security law
      332 17 REUTERS Brussels INTERNET companies such as Cisco and Google are seeking to be excluded from a new EU cyber security law that would force them to adopt tough security measures and report serious security breaches to national authorities.
      REUTERS  -  332 words
    • Article
      Lock icon Two security firms launch rival automatic password changers
      484 17 REUTERS London A FRENCH-AMERICAN startup launched an automatic password changer in an attempt to remove the all-too-human frailty that has rendered the phrase “computer security” a worrying oxymoron, leading a rival US software firm to launch a similar service. For most people,
      REUTERS  -  484 words
    • Article, Illustration
      Lock icon Twitter drops out of Glassdoor’s list of best places to work
      417 17 BLOOMBERG San Francisco TWITTER Inc was ranked second on Glassdoor Inc’s list of best places to work last year. This year, it didn’t crack the top 50. Employee reviews about Twitter that were posted this year on Glassdoor, which
      BLOOMBERG; PHOTO: BLOOMBERG  -  417 words
    • Article
      Lock icon Cyberattack seen costing Sony tens of millions of dollars
      372 17 REUTERS Los Angeles SONY Corp’s movie studio could face tens of millions of dollars in costs from the massive computer hack that hobbled its operations and exposed sensitive data, according to cybersecurity specialists who have studied past breaches. The tab will
      REUTERS  -  372 words
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      119 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF JOO CHEONG COMPANY (PRIVATE) LIMITED (IN MEMBERS’ VOLUNTARY LIQUIDATION) Company Registration No: *****0405C NOTICE OF FINAL MEETING Notice is hereby given pursuant to Section 308 of the Companies Act, Cap. 50, that the Final Meeting of
      119 words
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  • ENTERPRISE 50 2014
    • Article, Illustration
      Lock icon A celebration of top Singapore SMEs
      729 18  -  By Mindy Tan IT WAS an evening of glitz and glamour at the Enterprise 50 (E50) Awards to honour private companies and their achievements. The black-tie event, which took place at the Resorts World Sentosa on Nov 27, was in its 20th edition this
      PHOTOS: JOHN HENG  -  729 words
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  • CONSUMER
    • Article
      Lock icon Medical privacy in US under “matchback” attack
      613 20 Pharmacy records are being linked with online accounts to target ads at people based on their health conditions BLOOMBERG Washington EVER since the days of castor oil laxatives and mercury syphilis tablets, pharmacists and patients have had a tacit understanding: whatever you buy,
      BLOOMBERG  -  613 words
    • Article, Illustration
      Lock icon Abercrombie’s next CEO will have to revamp outdated brand, again
      584 20 BLOOMBERG New York ABERCROMBIE Fitch Co, a former purveyor of safari gear that was reborn as a teen clothing chain, is searching for its next incarnation. The company, which announced the departure of longtime chief executive officer Mike Jeffries on
      BLOOMBERG; PHOTO: BLOOMBERG  -  584 words
    • Article
      Lock icon US Web retailers push delivery boundaries
      490 20 They promise quick turnarounds for last-minute orders WP New York TO compete during what could become the busiest online buying season in history, Web retailers are offering shoppers speedy shipping, one-day upgrades and even promises to deliver last-minute orders by Christmas Day. The offers
      WP  -  490 words
    • Article, Illustration
      Lock icon Bloomberg News chief steps down
      667 20 NYT New York IN September, when Michael Bloomberg reassumed control of the company he left while serving three terms as New York City mayor, he met senior executives to pose a question: Who should replace his longtime edi-tor-in-chief at Bloomberg News, Matthew Winkler? Those conversations,
      NYT; PHOTOS: REUTERS  -  667 words
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      20 20 www.omy.sg Give your home a makeover with COLOURS worth of vouchers C-HJ S H Scan and read more at blog.omy.sg
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      29 20 CRICKET’S NOT THE ONLY GAME Other sportsare gainingground in India SINGAPORE’S GREEN LADY GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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  • GOVERNMENT & ECONOMY
    • Article
      Lock icon Japan’s looming benefit cuts an undercurrent in Sunday’s polls
      683 21 Social welfare spending accounts for a third of 96 trillion yen budget and rises by about one trillion yen annually REUTERS Tokyo HIROKO Shinohara frets about one issue Prime Minister Shinzo Abe has noticeably avoided on the campaign trail ahead of
      REUTERS  -  683 words
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      Lock icon World Bank lowers Russia’s economic forecast
      686 21 AFP Moscow THE World Bank announced a gloomier economic forecast for Russia on Tuesday as the rouble fell despite the central bank saying it had spent billions last week to prop it up. Falling oil prices and sanctions over the crisis in Ukraine have
      AFP; PHOTO: BLOOMBERG  -  686 words
    • Article, Illustration
      Lock icon France unveils controversial economic reform package
      606 21 AFP Paris FRANCE on Wednesday unveiled a controversial package of reforms to energise its crisis-hit economy, including a plan to expand Sunday trading for shops that has sparked outrage in some quarters. The proposed measures also include a plan to open up traditionally closed
      AFP  -  606 words
    • Article
      Lock icon India building database to unite public records
      503 21 BLOOMBERG New Delhi INDIA is building its own database platform to consolidate public records from across the world’s sec-ond-most populous nation in a bid to modernise services. The initiative will integrate police, court and criminal files, R S Sharma, secretary of the Department
      BLOOMBERG  -  503 words
    • Article
      Lock icon Weak wage growth may be turning, says BOE rate-setter
      426 21 REUTERS London A BANK of England (BOE) rate-setter said on Wednesday that the long run of weak wage growth in Britain might be at a turning point, strengthening the case for higher interest rates now. Ian McCafferty, one of two BOE
      REUTERS  -  426 words
    • Article, Illustration
      Lock icon In an about-face, Australia joins UN climate fund
      338 21 REUTERS Sydney AUSTRALIA will contribute A$200 million (S$218.7 million) over four years into a United Nations fund to help poor nations cope with global warming, Prime Minister Tony Abbott said on Wednesday, a major policy reversal for the embattled former climate-change sceptic.
      REUTERS  -  338 words
    • Article, Illustration
      Lock icon Juncker on defensive as more “LuxLeaks” firms come to light
      757 22 New revelations show Disney, Microsoft and Koch industries got bumper tax deals from Luxembourg AFP Brussels EUROPEAN Union Commission chief Jean-Claude Juncker was back under the spotlight on Wednesday after new revelations showed Disney, Microsoft and Koch Industries got bumper
      AFP; PHOTO: REUTERS  -  757 words
    • Article
      Lock icon Malaysian minister assures investors of economy’s strength
      455 22  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur MALAYSIA’S economy is broad-based and diversified enough to withstand lower oil prices and currency fluctuations, a government minister reiterated on Wednesday amid growing investor concerns over the strength of its economy following a freefall in petroleum prices.
      455 words
    • Article
      Lock icon Draghi measures may test Denmark’s euro peg
      373 22 BLOOMBERG Copenhagen AS Mario Draghi tries to pump as much as one trillion euros (S$1.62 trillion) of liquidity into the euro area, a little nation on Europe’s northern rim is preparing its defence of a 30-year-old currency regime. The unprecedented stimulus push by
      BLOOMBERG  -  373 words
    • Article
      Lock icon China eyeing foreigners to tame equity volatility
      554 22 BLOOMBERG Shanghai FOR most emerging markets, the arrival of foreign equity investors is a harbinger of increased volatility. In China, opening up may be just what the country needs to tame the biggest stock swings in more than five years. The US$4.6 trillion
      BLOOMBERG  -  554 words
    • Article
      Lock icon Fund-raising for China’s local govt financing vehicles “more difficult”
      946 22 BLOOMBERG Shanghai WITH US$90 billion of bonds sold by local government financing vehicles coming due next year, China is walking a fine line between teaching investors a lesson and preventing widespread defaults. The nation’s clearing agency said this week that local
      BLOOMBERG  -  946 words
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  • Article
    Lock icon Shipping times
    969 23 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville Hyundai Bridge 298E 10 Dec 09 Jan 25 Jan 02 Feb 03 Feb 04 Feb 09 Feb 10 Feb 13 Feb 23 Feb 17 Feb Hyundai Bridge
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      186 23 USE THIS SPACE TO SELL CALL JOE WONG AT *****327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced ship maintenance services wanted. Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 il < Announce Your Corporate Development Come
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  • OPINION
    • Article
      Lock icon Navigating the pitfalls of retirement planning
      636 24 EDITORIAL MANY people wake up one morning and realise it’s time to plan for retirement. Often, they are in their 40s or 50s. By then, much precious time has been wasted; cash could have been deployed to work in the financial markets much earlier.
      636 words
    • Article
      Lock icon US financiers’ nostalgia for Timothy Geithner
      904 24  -  THE BOTTOM LINE By Rob Cox Igjj REUTERS BREAKINGVIEWS AWEEK before Thanksgiving, Wall Street’s top brass were forced to reckon with an entirely new sensation: nostalgia for their former overlord, Timothy Geithner. Masters of the Universe who were gathered at Manhattan’s Pierre Hotel on
      Igjj REUTERS BREAKINGVIEWS  -  904 words
    • Article, Illustration
      Lock icon Keeping Africa on track for the 21st century
      1354 24  -  Whether it can develop like Asia hangs on how it taps its biggest resource its young population.BY RAILA ODINGA population.BY RAILA ODINGA T The writer is a former prime minister of Kenya. This article is based on the Annual Coca-Cola World Fund
      PHOTO: AFP  -  1,354 words
    • Article
      Lock icon Report on CIA may have biggest impact outside the US
      1047 25  -  COMMENTARY By Andrew Hammond T The writer is an associate at LSE IDEAS at the London School of Economics, and a former UK government special adviser THE US Senate Intelligence Committee released on Tuesday a redacted summary report on the
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    • LETTERS TO THE EDITOR
      • Article
        Lock icon SIAS and SRS should work together to serve retail investors better
        402 25  -  Vincent Khoo RECENTLY, the Securities Investors Association Singapore (SIAS) came up with some suggestions to grow the Singapore stock market as well as remisiers’ income (“Call to review income model for remisiers”, The Straits Times, Nov 17). This call
        402 words
      • Article
        Lock icon SGX website suffers from information gaps
        184 25  -  Waleed A Hanafi SINGAPORE Exchange (SGX) proudly announced a revamp of its website some months back, giving the impression that something better was being provided to customers. What has actually happened is that it is now much harder or impossible to find information about
        184 words
    • Article, Illustration
      Lock icon SUSTAINING THE HIMALAYAS
      1015 25  -  Everyone should be mindful of the mountains and the important, though often overlooked, role they play in all of our lives. BY DAVID MOLDEN BY DAVID MOLDEN T The writer is the director general of the International Centre for Integrated Mountain Development (ICIMOD) in Kathmandu, Nepal EACH
      PHOTO: CHUA WEI ZHEN/FOR ST  -  1,015 words
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  • LIFE & CULTURE
  • Page 26 Miscellaneous
    • Miscellaneous
      Lock icon Page 26 Miscellaneous Column 1
      304 26 CRYPTIC CROSSWORD Across 7 Watch fool cutting through heath (7) 8 Stronghold in front of castle with elaborate detail (7) 10 Fiennes, perhaps, showing a drive to involve commercial enterprise (10) 11 Get rid of duelling without judge (4) 12 Copper unusually stern with son, showing abrupt manner (8) 14
      304 words