The Business Times, 15 December 2014

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Total Pages: 23
1 24 The Business Times
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  • Title Section
    Lock icon Masthead
    24 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg O n@BTBreakingnews MCI (P) 051/08/2014 I Wednesday, October 8, 2014 Monday, December 15
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  • Article, Illustration
    Lock icon DAILY DIGEST
    231 1 Stocks in the US have incurred their biggest weekly loss since 2011 as investors reappraised the implications of the oil bust for the global economy. The losses are likely to mount this week unless the Fed retreats from hints that it’s ready to shift into ratehiking mode.TOP STORIES
    231 words
  • Article
    Lock icon MARKETS
    25 1 Weekly Change STI 3,324.13 -0.26 KL Comp 1,732.99 -16.38 Nikkei 225 17,371.58 -548.87 Hang Seng 23,249.20 -753.44 Shenzhen B 1,022.09 +17.39 Dow 17,280.83 -677.96
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  • Article, Illustration
    Lock icon US rate hike not all bad for Singapore
    1014 1  -  But any benefits would also be crimped by domestic constraints and sluggish growth in EU and China, economists say By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT Singapore THE US Federal Reserve is expected to inch a step closer to a rate hike at
    Source: Bloomberg  -  1,014 words
  • Article
    Lock icon Abe secures extended mandate for policies in low turnout election
    647 1  -  By Anthony Rowley btworld@sph.com.sg Tokyo JAPANESE Prime Minister Shinzo Abe’s political gamble in calling a snap election paid off last night as exit polls gave his ruling Liberal Democratic Party (LDP) and its coalition partner, the New Komeito Party, a
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      76 1 *****4 CREDIT UNWORTHY One in five cardholders in S’pore pays only minimum sum TOP STORIES 4 NEW RESTAURANTS BANK OF SINGAPORE Poised for double-digit growth of up to 15% TOP STORIES 3 Homestyle cuisine in hipster haunts SUCCESSFUL INVESTING Tips from financial veterans BT-CITIBANK YOUNG INVESTORS’ FORUM 10 DINING OUT
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  • TOP STORIES
    • Article, Illustration
      Lock icon Stock losses likely to mount this week
      986 2  -  Market outlook hinges on Fed’s view of the net effect of low oil prices on US economy WALL STREET INSIGHT By Rob Curran btworld@sph.com.sg STOCKS have incurred their biggest weekly loss since 2011 as investors reappraised the implications of the oil bust for
      PHOTO: BLOOMBERG  -  986 words
    • Article
      Lock icon Changing semantics of a rate hike
      318 2  -  By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT Singapore THE Federal Open Market Committee’s meeting later this week will be closely watched for more insight into when a rate hike should be expected, as well as a fresh batch of forecasts on the US economy. But
      318 words
    • Article
      Lock icon Re-hiring up to age 67 to be made law by 2017
      687 3 Minister Tan Chuan-Jin also touches on local labour force developments and CPF changes up ahead Singapore LEGISLATION on the re-employment of older workers up to the age of 67 will be introduced by 2017, said Minister of Manpower Tan
      687 words
    • Article
      Lock icon Bank of Singapore set to notch record growth of up to 15%
      863 3  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore BANK of Singapore is back on track to post double-digit growth for 2014, likely as much as 15 per cent, according to its outgoing chief executive, Renato de Guzman. “This year
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    • Article
      Lock icon Pockets of risk – 1 in 5 cardholders in Singapore pays just the minimum sum
      1441 4 / 5  - Pockets of risk 1 in 5 cardholders in Singapore pays just the minimum sum More older women are missing payments on credit cards than during Sars period in 2003; men are more prudent today CREDIT UNWORTHY By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore ONE in five credit-cardholders in Singapore are in
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    • Article
      Lock icon What banks can find out from consumers’ credit reports
      446 4 / 5  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore CONSUMERS here have not found savvy ways to play with their credit scores not yet, anyway, said William Lim, executive director of Credit Bureau Singapore. In the US, some borrowers have, perversely, even tried to
      446 words
    • Article
      Lock icon Senate passes spending bill, avoiding govt shutdown
      463 4 / 5 REUTERS Washington THE US Senate has passed a US$1.1 trillion spending bill that lifts the threat of a government shutdown as Congress attempts to wrap up a two-year legislative session marked by bitter partisanship and few major accomplishments. The Senate’s 56-40 vote last
      REUTERS  -  463 words
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      Lock icon Page 2 Advertisements Column 1
      482 2 cutting through complexity KPMG Seminar Series Date Wednesday, 21 January 2015 Goods and Services Tax (GST) Seminar Getting ready for Malaysia GST Time 9.00am to 5.00pm Malaysia GST implementation will be effective from 1 April 2015, How would the introduction of GST in Malaysia impact your business? Are your operations
      482 words
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      59 2 FACT. ERR Software costs way too much to maintain. Find out how we keep your costs down. Call us today! ERP+CRM Software A truly integrated solution Serving Singapore companies proudly for 22 years FACT Software International Pte Ltd (*****6146Z) 10 Hoe Chiang Road #14-07 Keppel Towers Singapore *****5 T+65 *****832
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      557 3 w r ASIA AWARD 20fl4 SUPREMACY OUTMOST INTEGRITY ASIA EXCELLENCE AWARD IS AN ESTEEMED BUSINESS ACCOLADE WHICH RECOGNIZES THE ENTREPRENEURIAL ELITES IN ASIA WHO HAVE CONSTANTLY STRIVED FOR HIGHER STANDARDS AND CONTRIBUTED IDEAS TO INFLUENCE THE ECONOMIC DEVELOPMENT. DESPITE ASIA EXCELLENCE AWARD’S STRINGENT CRITERIA FOR TAKING RECIPIENTS ON BOARD, THESE
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Hailo sees its track record giving it an edge here
      938 4 / 5  -  Having “experienced one of our best launches ever in Singapore”, it aims to replicate its success in places like Hong Kong and Seoul. BY LEE U-WEN TTTOPLINE Seoul.BY LEE U-WEN leeuwen@sph.com.sg @LeeUwenBT BEING the fourth and newest entrant in Singapore’s
      PHOTO: HAILO  -  938 words
    • Article, Illustration
      Lock icon Companies Act reform – impact on directors
      834 4 / 5  - Companies Act reform impact on directors A number of amendments affect the appointment, scope and disqualification of directors. BY MARCUS CHOW T The writer is a member of the Advocacy Research Committee of the Singapore Institute of Directors T For more articles, go to btd.sg/BMatters IN LAST week’s article on
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    • Article
      Lock icon After a tragic year, can Malaysia Airlines get its act together?
      1239 6  -  Carrier exits Malaysian bourse, hopes to be profitable and relist with 12-point “recovery plan” By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore FLAG carrier Malaysian Airline System Berhad (MAS) made its humble exit from the Malaysian stock market last Friday with
      1,239 words
    • Article
      Lock icon DB Platinum
      9 6 Croci Branchen Stars R1C-A 08/12/2014 228,06 EUR
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    • Article
      Lock icon Buying among directors, companies soars, selling remains low
      1575 6  -  INSIDE MARKETS By Robert Halili TThe writer is managing director, Asia Insider Ltd THE buying among directors surged in the past week, while the selling stayed low for the sixth straight week. Filings on the Singapore Exchange in the second week of
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    • Article, Illustration
      Lock icon STI / Catalist
      64 7 STI Catalist WEEKLY Straits Times Index Dec 12,2014 3,324.13 -0.26 (-0.01%) Current streak 1 day Week high 3,325.81 Week low 3,297.84 52-week high 3,350.50 (JNOV 28, 2014) 52-week low 3,013.15 (Feb 7, 2014) FTSE ST Catalist index Dec 12,2014 740.58 -6.90 (-0.92%) Current streak 1 day Week high 740.58 Week
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    • Article, Illustration
      Lock icon Stay close to STI and its components for now
      656 7  -  TTSTOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT MORGAN Stanley in its outlook for Singapore a year ago noted that the correlation local blue chips have with the MSCI World Index over the previous 10 years was only 55 per cent. The conclusion
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    • Article
      Lock icon GAINERS
      77 7 BY CENTS CLOSE UP 52w high/low GLD US$ ***** 221.6 1.5 *****/***** DBXT MSUSA US$ 5242 199.4 3.0 5242/4303 SPDR DJIA US$ ***** 157.4 0.7 *****/***** SIA 1163 65.0 5.9 1165/941 DBXT S&P Short US$ 2273 64.3 2.2 2752/2215 BY PERCENTAGE CLOSE UP 52w high/low Advance SCT 0.2 100.0
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    • Article
      Lock icon LOSERS
      78 7 BY CENTS CLOSE DOWN 52w high/low DBXT Nifty US$ ***** -636.1 -3.4 *****/9759 SPDR S&P500 US$ ***** -632.1 -2.3 *****/***** DBXT iBoxxSvEu US$ ***** -465.6 -1.3 *****/***** JMH USD 5815 -465.6 -5.8 6460/4934 DBXT MSEurope US$ 5628 -289.8 -3.8 6492/5366 BY PERCENTAGE CLOSE DOWN 52w high/low SembMar MBeCW*****2 0.5
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    • Article
      Lock icon UNUSUAL ACTIVITY
      84 7 VOL CLOSE($) CHANGE Epicentre 740.0 0.147 +0.027 +22.50 Darco Water Tech 60.0 0.025 -0.013 -34.21 China Haida 211.0 0.019 -0.004 -17.39 CH Offshore 11,518.0 0.505 +0.040 +8.60 PS Group 100.0 0.148 -0.012 -7.50 ISR Capital 294.0 0.021 -0.006 -22.22 China Intl 204.0 0.037 +0.003 +8.82 BlueSkyPower 128.0 0.169
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    • Article
      Lock icon STI STOCKS
      306 7 Stock name Close Change Wk high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 232 unch 237/229 250 206 6.1 5862 CapitaLand 329 unch 334/325 348 268 16.5 2.4 *****.1 CapitaMall Trust 201 +3.5 202/196.5 209 180 5.1 6971.3 CityDev 1005 +19 1012/986 1118 860 13.6
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    • Article
      Lock icon MOST ACTIVE
      37 7 VOLUME SIIC Environment 358,795,000 IHC 316,516,000 Digiland Intl 306,273,000 Mirach Energy 263,047,000 Golden Agri-Res 213,579,000 Market volume 7,469,367,000 VALUE DBS Grp 455,936,046 SingTel 427,349,796 Keppel Corp 303,516,638 UOB 288,165,326 OCBC Bank 262,689,704 Market value 5,444,082,000
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    • Article
      Lock icon SGX ETFs
      109 7 Most Active Fund Last sale +/-(‘000) Wk high/low 52w high/low Buy/Sell Mcap UETF SSE50China 202 -8 1782 217/192 217/140 200/202 63.1 IS MS India US$ US739 -40 1132 776/737 790/541 737/741 92.4 DBXT CSI300 US$ US906 +2 587 958/850 958/613 901/903 STI ETF 337 +1 554 338/335 343/298
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    • Article
      Lock icon COMPANY MEETINGS
      93 7 COMPANY MEETING PLACE DATE TIME KOP Ltd E 25 Tai Seng Avenue #01-01 Scorpio East Building 15-Dec 10.00am Giken Sakata A The Draycott Room Tanglin Club 5 Stevens Road 18-Dec 10.00am AEM HldgS E 52 Serangoon North Avenue 4 #07-02 19-Dec 11.00am ARA-CWT Trust Mgt E Suntec S'pore
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 7 Dec 12 VALUE CLOSE BT OB/OS -645.00 +69.00 BT CADI -*****.00 +38.00 BT 10-day MA -*****.00 -64.00 FTSE ST Mid Cap 739.37 +0.50 FTSE ST Small Cap 491.20 +1.17 FTSE ST All Share 795.81 +1.22 FTSE ST China Top 184.59 +1.14 FTSE ST China 221.51 +2.15 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      36 7 STI FTSE ST All-Share WEEKLY FTSE ST All-Share index Dec 12,2014 795.81 -1.41 (-0.18%) Current streak 1 day Week high 796.62 Week low 791.40 52-week high 816.11 (July 25, 2014) 52-week low 733.83 (Feb 7, 2014)
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    • Article
      Lock icon Oil prices extend collapse; gold gains
      789 7 COMMODITIES AFP London GLOBAL oil prices tumbled to fresh five-year-low points last week, while gold won support from its status as a haven investment in times of economic unrest, traders said. European stock markets slumped, dragged down by oil’s plunge and renewed concerns over
      AFP  -  789 words
    • Article, Illustration
      Lock icon STI / MSCI EAFE
      34 7 STI MSCI EAFE WEEKLY msci eafe index Dec 12,2014 1,767.09 -65.02 (-3.55%) Current streak 5 days Week high 1,824.74 Week low 1,767.09 52-week high 1,993.20 (July 4, 2014) 52-week low 1,737.51 (Oct 17, 2014)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 7 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 9 1 0 0 0 6 9 1 Manufacturing 43 83 44 10 18 13 53 101 57 Commerce 21 37 14 7 9 5 28 46 19 Tpt/Stor/Comms 20 16 8
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 7 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 94,066 94,066 432,140 432,140 Manufacturing 679,481 312,929 992,410 425,764 22,168 447,932 Commerce 607,000 115,861 722,861 328,162 7,561 335,723 Tpt/Stor/Comms 574,426 5,018 579,444 932,615 1,771 934,386 Finance 235,326 714 236,040 1,208,534 166 1,208,700 Construction 140,108 88,488
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    • Article
      Lock icon Yen has best week in 16 months as oil slump fuels refuge demand
      478 8 CURRENCIES BLOOMBERG New York THE yen had its biggest weekly advance against the dollar in 16 months last week as the market contagion from the rout in crude oil prices drove investors to haven currencies and Japan
      BLOOMBERG  -  478 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 8 Dec 12 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.955 5.121 0.667 6.416 51.622 103.028 0.983 9.124 2.891 1.061 83.244 36.890 1.086 9.603 0.801 25.923 27.141 0.527 0.828 Canada 1.047 5.364
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      • Article, Illustration
        Lock icon HANG SENG
        3 8 WEEKLY
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 8 Dec 12 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0850 1.0861 0.8273 0.8279 Canadian dollar 1.1367 1.1375 0.8671 0.8667 Euro 1.6267 1.6275 1.2403 1.2406 NZ dollar 1.0224 1.0234 0.7796 0.7801 Sterling pound 2.0609 2.0622 1.5714 1.5719
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 8 Dec 12 S$ Bid Offer 1-month 1.3121 1.3125 2-months 1.3123 1.3128 3-months 1.3120 1.3126 6-months 1.3123 1.3128 Source: OCBC
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        3 8 COMPOSITEWEEKLY
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      • Article, Illustration
        Lock icon NIKKEI
        2 8 WEEKLY
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      • Article, Illustration
        Lock icon DOW JONES
        3 8 WEEKLY
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 8 Dec 12 $S Offer Bid 0vernight 0.08 0.03 1-month 0.4375 0.3125 2-months 0.4375 0.3125 3-months 0.4375 0.3125 Overnight mode: 0.14 US$ 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 SIBOR
        36 8 Dec 12 (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 GOVERNMENT SECURITIES
        63 8 Dec 12 Dec 12 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105.39 5-Year N*****0H 1.625 01-Oct-19 100.64 100.70 100.64 10-Year NY*****H 3.000 01-Sep-24 107.01 106.92 106.92 15-Year NY*****E 2.875 01-Jul-29 104.21 20-Year NZ*****V 3.375 01-Sep-33 110.02 30-Year NA*****N
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        365 8 Dec 12 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.69 *****.19 *****.19 Mar15 *****.00 *****.00 *****.00 *****.00 *****1 *****5 Jun15 *****.00 *****.00 *****.00 *****.00 1 2641 MSCI TAIWAN INDEX FUTURES SPOT 333.90 335.54 333.13 Dec14 332.20 334.60 331.30 332.00 ***** *****8 Jan15 332.60
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        211 8 Most active Dec 12 Prem Expiry Wk Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left KepCorp MB eCW*****2 7.6 -1.2 ***** 0.2 900 6 DBS MB eCW*****2 13.8 2.6 ***** 0.1 0 6 Rowsley Ltd W*****3 4.2 0.4 ***** 1 18
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 8 In local curr In S$ In US$ dy yr dy yr dy yr Dec 12 Index Change Change Change Change Change Change World Preliminary 1246.3 -1.2 5.2 -1.2 5.3 -1.0 1.2 EAFE Preliminary 964.9 -1.6 0.9 -1.4 -4.1 -1.1 -7.8 Europe Preliminary 1341.7 -2.4 -1.0
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        212 8 Dec-12 Price Net change change Last Trade Agricultural Dec-12 CBOT Soybeans (US cents/bu) 1047.25 5.00 0.48% 14/01/2015 CBOT Soybean Oil (US cents/lb) 31.97 0.04 0.13% 12/12/2014 CBOT Wheat (US cents/bu) 627.50 17.25 2.83% 12/12/2014 Dec-12 LIFFE Cocoa (£/tonne) 1909.00 -13.00 -0.68% 12/12/2014 LIFFE Coffee (US$/tonne) 1944.00 6.00 0.31%
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      • Article
        Lock icon PALM OIL
        57 8 Dec 12 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 14 2190.0 2154.0 2190.0 2165.0 283 1784 Jan 15 2182.0 2159.0 2199.0 2150.0 1103 ***** Feb 15 2199.0 2171.0 2216.0 2165.0 ***** ***** Mar 15 2200.0 2174.0
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    • Article, Illustration
      Lock icon Keppel Corp stalwart Teo Soon Hoe, 65, dies
      195 9 Singapore TEO Soon Hoe, a long-time stalwart of conglomerate Keppel Corp, has died. The Straits Times reported that it understands that Mr Teo died on Sunday after a six-month battle with cancer. He spent nearly four decades with the group. Prior to
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    • Article
      Lock icon Takata tightens screws on suppliers: sources
      189 9 REUTERS Tokyo TAKATA Corp has begun enforcing tighter quality controls on a group of parts suppliers as the vehicle safety equipment maker boosts production to replace millions of airbags recalled for a potentially deadly defect, according to people involved. Takata, whose exploding airbags have
      REUTERS  -  189 words
    • Article
      Lock icon DIVIDENDS ANNOUNCED
      806 9 Payment Ex Rec Pay Ann (cts) date date date date AIMS Property ag 0.109 26-Sep 30-Sep 19-Dec 23-Sep AIMSAMP Cap Reit (1 Jul-30 Sep 2014) ct 2.770 05-Nov 07-Nov 23-Dec 30-Oct Asian Pay Tel Tr (1 Jul-30 Sep 2014) ap 2.000 10-Dec 12-Dec 19-Dec 06-Nov Ausnet Services az
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    • Article
      Lock icon XMH Holdings’ Q2 net down 65%, group upbeat on Vietnam
      366 9  -  By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore XMH Holdings, a diesel engine provider for the marine and industrial sectors, has posted net profit of S$711,000 for the second quarter ended Oct 31, down 64.9 per cent from a year ago. Revenue
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    • Article
      Lock icon PRIME LENDING RATES
      267 9 Dec 12 BANKS Agricultural Bank Of China 5.50 Agricultural Bank Of China Bangkok Bank Public Co. Ltd ANZ Singapore ...5.50 Bank of Communications 5.50 ...6.00 Bank of China Limited ...5.50 Bank of Tokyo-Mitsubishi UFJ, Ltd Bank of East Asia Banque Internationale a Bank of Singapore ...5.50 Bank
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    • Article
      Lock icon BROKERS’ RECOMMENDATIONS
      1576 9 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (cents) (ratio) price AIMS AMP Capital Industrial REIT 2.50 2.00 2 10.85 13.32 1.55 1.45 ARA Asset Management Limited 2.00 2.00 4 10.45 15.98 1.97 1.67 Ascendas Hospitality Trust Mgt
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      90 4 / 5 Being recognised is even more gratifying when it comes with your enduring trust. Q A y ■i I V, j I Zb 4 C C 4 m Best Private Bank in Singapore, 2013 Asian Private Banker Best Private Wealth Management Bank in Southeast Asia, 2014 Best Private Wealth Management Bank
      90 words
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  • BT-CITIBANK YOUNG INVESTORS’ FORUM
    • TIPS FROM FINANCIAL VETERANS
      • Article, Illustration
        Lock icon Bogle: Advisers should keep you from mistakes
        598 10 Founders of well established and respected fund management firms as well as an economist and author shed light on the art of successful investing BLOOMBERG T John Clifton “Jack” Bogle, 85, founder, The Vanguard Group By Carla Fried Q: For a patient investor
        BLOOMBERG; PHOTOS: BLOOMBERG, AFP  -  598 words
      • Article, Illustration
        Lock icon Gabelli: Watch ageing of population, infrastructure
        579 10 BLOOMBERG T Mario Gabelli, 72, founder, Gamco Investors By Lewis Braham Q: In your experience what is the biggest mistake investors are prone to make? A: Chasing fads. In the 1960s, it was bowling alleys. In the 1970s, the Nifty Fifty. The 1980s, leveraged
        BLOOMBERG  -  579 words
      • Article, Illustration
        Lock icon Malkiel: The lower the fees, the better
        485 10 BLOOMBERG T Burton Malkiel, 82, economist and author of “A Random Walk Down Wall Street” By Ben Steverman Q: We’re into the season of the “year ahead” predictions. How useful do you think those are? A: There isn’t anybody who can tell you
        BLOOMBERG  -  485 words
      • Article, Illustration
        Lock icon Mobius: Selling oil firms may be a mistake
        686 10 BLOOMBERG T Mark Mobius, 78, executive chairman, Templeton Emerging Markets Group By Suzanne Woolley Q: You’ve written recently about how some US companies can be seen as emerging markets investments. Why? A: There are many companies listed in London, New York, even
        BLOOMBERG  -  686 words
  • Page 10 Advertisements
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      Lock icon Page 10 Advertisements Column 1
      113 10 GET STARTED NOW Be a young investor Do you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to
      113 words
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  • REAL ESTATE
    • Article
      Lock icon Sunseap wins biggest HDB solar leasing tender
      585 11  -  Solar photovoltaic systems to be installed at 680 HDB blocks, three HDB-owned commercial properties By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore THE Housing Development Board (HDB) has awarded its largest solar leasing tender to date. The tender was awarded to Sunseap Leasing Pte Ltd.
      585 words
    • Article
      Lock icon Spain rebuilding again after housing crash of 2008
      726 11 REUTERS Madrid ON a street in central Madrid, Juan Jose Perucho points to where he is going to build one of the capital’s tallest residential blocks after buying a site bigger than five football pitches from the state-owned metro network. “We’ve sold
      REUTERS  -  726 words
    • Article, Illustration
      Lock icon French mall battered by consumer spending crisis
      825 11 REUTERS Aubervilliers, France IN the middle of 2008, construction began on France’s biggest mall project in a decade. Weeks later the US credit and housing crisis slammed into Europe, and promoters of Le Millenaire braced for a big hit to their hopes. Reality
      REUTERS; PHOTO: REUTERS  -  825 words
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      100 11 It: DELECTABLE DELIGHTS AT MANDARIN ORCHARD SINGAPORE Available from 24 November to 31 December 2014 Choose from a delicious array of Christmas roasts and sweet and savoury delights, featuring the Roasted Pork Belly Roulade with fresh thymes and mustard, and the Cherry Hokkaido Cream Fairy Tale yule log perfect for
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  • BANKING & FINANCE
    • Article
      Lock icon Pay for top UBS advisers could hit all-time high
      258 12 REUTERS New York UBS AG’s Wealth Management America has made it easier for brokers to earn a key bonus in 2015 under its revised compensation package, which could boost top advisers’ overall pay to an all-time high. Advisers who bring in
      REUTERS  -  258 words
    • Article, Illustration
      Lock icon US life insurers avoiding up to US$100b in federal taxes
      1273 12 Special laws passed by some states allow insurers to reduce sharply reserves they are required to hold NYT New York SOME companies have been called economic traitors for seeking to lower their tax bills by moving overseas. But life insurers
      NYT; PHOTO: REUTERS  -  1,273 words
    • Article
      Lock icon China’s trust insurance fund to start with 40b yuan
      412 12 Shanghai A PLANNED insurance fund for China’s trust industry will have an initial size of around 40 billion yuan (S$8.5 billion), the stateowned China Securities Journal reported, citing unidentified officials from the banking regulator. The fund, the first of its kind,
      412 words
    • Article
      Lock icon Carlyle, Warburg Pincus in lead to acquire DBRS
      538 12 They are offering over US$500m for the credit rating agency: sources REUTERS New York A PRIVATE equity consortium of Carlyle Group LP and Warburg Pincus LLC is in advanced talks to acquire privately held credit rating agency DBRS Ltd for more than
      REUTERS  -  538 words
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      1482 12 The Business Times NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 and IN THE MATTER OF SPITFIRE CONSULTANTS PTE. LTD. Company Regn No *****0780M (In Voluntary Liquidation) NOTICE IS HEREBY GIVEN that the Creditors of the abovenamed Company, which is being wound up voluntarily, are required on or
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  • ENERGY & COMMODITIES
    • Article
      Lock icon Where’s the price floor? Check the contango
      774 13 Traders can make money by buying crude to put into storage, giving the oil market some support OIL ROUT REUTERS New York OIL traders searching frantically for an end to the deepest price rout since the 2008 financial crisis should forget about Opec
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      Lock icon Unhedged US shale drillers bear brunt of oil slide
      634 13 REUTERS New York OIL’S slide to the lowest price in more than five years is carving a divide between US shale drillers which heavily hedged future production and those which didn’t. While financial hedges are commonly required by many oilfield lenders,
      REUTERS; PHOTO: REUTERS  -  634 words
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      Lock icon Oil slump drives US drillers to idle the most rigs in 2 years
      699 13 With oil at US$60 a barrel, US producers have curbed spending BLOOMBERG San Francisco US OIL drillers idled the most rigs in almost two years as they face oil trading below US$60 a barrel and escalating competition
      BLOOMBERG; PHOTO: BLOOMBERG  -  699 words
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      Lock icon Banks reassessing credit lines to some US energy firms
      914 13 As crude prices plunge, highly leveraged companies may face cash crunch REUTERS Houston BANKS are responding to tumbling crude prices by trimming the value of oil reserves tied to credit lines, possibly causing a cash crunch for some highly leveraged US
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  • TECHNOLOGY
    • Article, Illustration
      Lock icon Aggressive lobbying of state and local officials pays off for Uber
      2422 14 It also manages to mobilise thousands of supporters fast to protest curbs that officials try to place on its operations WP Washington ON A Thursday in June, bureaucrats from Virginia’s Department of Motor Vehicles (DMV) made their move against
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      Lock icon Alleged UK hacking of Belgian telco was far-reaching: reports
      415 14 REUTERS Brussels HACKING of computers at Belgian telecoms firm Belgacom, alleged to have been carried out by a British spy agency, was more far-reaching than previously thought and went undetected for more than two years, according to reports. News of the
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      Lock icon Iran hackers may target US energy, defence firms: FBI
      222 14 REUTERS Boston THE Federal Bureau of Investigation has warned US businesses to be on the alert for a sophisticated Iranian hacking operation whose targets include defence contractors, energy firms and educational institutions, according to a confidential agency document. The operation is
      REUTERS  -  222 words
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      Lock icon United Technologies seeking largest deal yet to spur sales
      741 15 New CEO promises to increase shareowner value despite challenging growth environment BLOOMBERG New York UNITED Technologies Corp’s new chief executive officer said that he will consider acquisitions in excess of US$ 20 billion as he reviews portfolio changes that could also
      BLOOMBERG; BLOOMBERG FILE PHOTO  -  741 words
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      Lock icon Facebook dumps Bing search results
      388 15 REUTERS San Francisco FACEBOOK has stopped including results from Microsoft Corp’s Bing search engine on its social networking site. The move, confirmed by a company spokesman, comes as Facebook revamped its own search offerings, introducing a tool last Monday that allows users to quickly find
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      Lock icon Telkom to lead US$24b broadband expansion in Indonesia
      391 15 REUTERS Jakarta STATE-owned telecom firm PT Telekomunikasi Indonesia Tbk will take the lead in a US$24 billion drive to expand Indonesia’s broadband capacity over the next five years, the communication and information minister said. Rudiantara, part of newly elected President Joko Widodo’s
      REUTERS; PHOTO: BLOOMBERG  -  391 words
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      1051 15 SERIAL SERIAL SYSTEM LTD Company Registration Number: *****2071D (Incorporated in the Republic of Singapore on 22 April 1992) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (“EGM”) of Serial System Ltd (the “Company”) will be held at 8 Ubi View #05-01, Serial System Building,
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      329 15 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF DAUPHIN SHIPYARD PTE LTD (IN LIQUIDATION) Co. Reg No. *****1942H NOTICE OF MEETING TAKE NOTICE that a meeting of the creditors of the abovenamed Company will be held as follows: Date :22nd December 2014 Time 9.30
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      301 15 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF CRM COMMODITY RISK MANAGEMENT TECHOLOGY PTE. LTD. COMPANY REG. NO. *****3645H (In Members’ Voluntary Winding Up) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN, pursuant to Section 308 of the Companies Act, Cap. 50 that the
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  • CONSUMER
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      Lock icon China’s e-cigarette boom lacks oversight for safety
      1291 16 Chinese factories working faster, hoping to build profits and market share before regulatory scrutiny NYT Shenzhen IN a grimy workshop, among boiling vats of chemicals, factory workers are busy turning stainless steel rods into slender tube casings, a crucial component of electronic cigarettes.
      NYT; PHOTO: AFP  -  1,291 words
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      Lock icon BT Group faces luxury of choice in mobile comeback
      650 16 BLOOMBERG London AS BT Group Plc seeks to return to the mobile-phone market, Britain’s former telecommunications monopoly is encountering an unexpected bonus: the country’s two biggest wireless providers are competing for its attention. That could mean lower prices and more favourable
      BLOOMBERG  -  650 words
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      70 16 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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      4 16 SUBSCRIBE TO ICON SINGAPORE
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  • GOVERNMENT & ECONOMY
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      Lock icon Debate shifts to how fast the Fed should move after first rate hike
      1030 17 Stagnant US inflation has become less of a concern in light of continued improvement in labour markets REUTERS Washington FOR the Federal Reserve, deciding when to raise rates for the first time in nearly a decade has
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      Lock icon Most Germans think govt not taking immigration concerns seriously enough
      318 17 REUTERS Berlin A MAJORITY of Germans think Angela Merkel’s government is paying too little attention to concerns about immigration and asylum-seekers that have prompted weekly marches in the city of Dresden, according to a poll. In the survey by TNS
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      Lock icon US corporate leaders defend Treasury nominee against congressional critics
      635 17 Lazard banker Antonio Weiss seen as being too close to Wall Street BLOOMBERG Washington SOME of the biggest names on Wall Street came to the defence of US Treasury nominee Antonio Weiss as lawmakers criticise the Lazard Ltd banker for being
      BLOOMBERG; PHOTO: BLOOMBERG  -  635 words
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      Lock icon Thai academic sees GE in mid-2016
      190 17 XINHUA Bangkok THAILAND might not have a new general election until mid-2016, given the likelihood of a referendum to be held after the drafting of a permanent constitution is completed, a renowned Thai academic said on Sunday. The possible referendum on the new constitution,
      XINHUA  -  190 words
    • Article
      Lock icon Study: China targeting Japan for investments
      631 18  -  China is the world’s third largest foreign investor; its outward investment is set to exceed inward this year By Anthony Rowley btworld@sph.com.sg Tokyo CHINESE overseas investment has surged massively in recent years, to the point where China is now the world’s third largest foreign
      631 words
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      Lock icon Rising market drives Chinese investors into a frenzy despite many warnings
      869 18 AFP Shanghai HUNDREDS of thousands of investors are piling into China’s stock market on the back of a spectacular rally, driving up prices in a borrowing-fuelled frenzy despite warnings of heightened risks. The benchmark Shanghai Composite Index was sent
      AFP; PHOTO: AFP  -  869 words
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      Lock icon Tories vow to create northern powerhouse ahead of polls
      648 18 NYT London THEY were among Britain’s most durable stereotypes and, for some, they still are: the flat-vowelled northerner in an equally flat cloth cap, denizen of dark and distant mill towns; and the silver-tongued southerner, the city gent with bowler hat
      NYT; PHOTO: REUTERS  -  648 words
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      Lock icon Australia to take budget steps to absorb export shock: Treasurer
      432 18 REUTERS Perth AUSTRALIA will take budget measures to cushion an economy facing its worst decline in terms of trade in more than half a century, Treasurer Joe Hockey said on Sunday, with the government poised to unveil large cuts to
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      Lock icon Oil price slump hurting ECB’s stable price plan
      580 19 Central bank faces looming deflation in eurozone AFP Frankfurt THE plunge in oil prices is making it tougher than ever for the European Central Bank (ECB) to achieve its core mission of keeping prices stable at a time it faces looming deflation,
      AFP  -  580 words
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      Lock icon Why US women are leaving their jobs for their families
      1230 19 NYT New York SINCE Kerry Devine, 32, and her friends began having children, she has noticed a stark difference between her female friends in Auburn, Washington, where she lives, and those in England and Cyprus, where she grew up. In
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      Lock icon EU looks set to free up dairy sector amid greater demand
      748 19 Futures contracts for several products on the way to manage market fluctuations AFP Paris THIRTY years after introducing quotas to combat the butter mountain caused by overproduction, the EU is on the cusp of freeing up the dairy sector
      AFP  -  748 words
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      Lock icon Could 2015 see the end of Ebola as a killer?
      529 20 AFP Paris AFTER decades making brief, murderous forays from central Africa’s forests, Ebola erupted into a global emergency in 2014. Yet its success could spell its downfall as scientists scramble to relegate it to a footnote of medical history. From
      AFP  -  529 words
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      Lock icon Fund manager issues warning on surge in developed nation debt
      789 20  -  Between 2000 and the end of 2013, developed economies’ outstanding debt soared by US$66 trillion to US$102.7 trillion By Neil Behrmann btworld@sph.com.sg London A MASSIVE developed nation surge in sovereign and corporate bonds and other debt is seriously disturbing for
      789 words
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      Lock icon Thousands march to protest against killings of black men by police officers
      452 20 REUTERS Washington THOUSANDS of demonstrators marched in Washington, New York and Boston on Saturday to protest against killings of unarmed black men by police officers. Organisers said the marches were among the largest in a recent wave of
      REUTERS; PHOTO: REUTERS  -  452 words
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      Lock icon 190 nations agree on building blocks for new 2015 climate deal
      603 20 Under Lima deal, govts to submit plans to rein in greenhouse gas emissions by March REUTERS Lima ABOUT 190 nations agreed on Sunday the building blocks of a new-style global deal due in 2015 to combat climate change amid
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      271 17 FUTURE i I t I II I i i f a CHINA I ADVANCED LEADERS PROGRAMMI Groominmfutvre leaders to be “China-ready” China-savvy fttmd I Connected” H Future China Advanced Leaders Programme is a very good platform to keep one informed of the developments in China. This platform gives you a
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      258 19 Yeo Sang Ping Remisier Lim Tan Securities Pte Ltd Technical analysis is a methodology often used by traders to forecast future price trends of stocks. This allows them to identify the optimum buy and sell time of a stock, thus making the most out of their trades. Having the right
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      75 19 So?? sit* <x on «DVE LARGEST Fair ASIA’S Educational Kids’ Singapore expo 20-22 March 2015 If your business targets families with kids between the age of 0 -12, we have the right platform for you! GUARANTEE? TARGETS? CROW?! Join us at smartKi?s Asia 2015! vCall us to enquire how we
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      76 20 ONLINE SALE www.oaks.com.sg Wine, Whisky, Sake, Champagne, Life Style and Wine Accessories Over 500 products available Champagne Best Offer! I Dom Perignon Now: SS490.00 Rose 1996 usual: s$625.oo Veuve Fourny Now: S$139.00 Clos Notre-Dame ler Cru 2005 s$205.oo It's A 'Discovery! The Oaks Cellars Pte Ltd 315 Outram Road #12-09
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      20 20 HongLeongGroup is Singapore's top seller of residential units for three consecutive years To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • TRANSPORT
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      Lock icon Ambitious Qatar Airways expands fleet, fuelling its push into Europe
      589 21 Next week it takes delivery of the first A350 XWB next-generation plane from European maker Airbus AFP Dubai WITH deep pockets and hundreds of new planes on order, Qatar Airways is one of a trio of fast-growing Gulf carriers seeking
      AFP  -  589 words
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      Lock icon Record number of China-bound supertankers hints of stockpiling
      732 21 BLOOMBERG London THE number of supertankers sailing to China jumped to a record in ship-tracking data amid signs that the oil-price crash is spurring the Asian nation to stockpile. There were 83 very large crude carriers bound for Chinese ports, according to
      BLOOMBERG; PHOTO: BLOOMBERG  -  732 words
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      Lock icon New FAA rules may hit recreational drone flyers
      703 21 REUTERS New York AMERICANS shopping for toy remotecontrolled airplanes or helicopters may find, some time in the near future, that they come with unexpected accessories: a raft of new regulations. The Federal Aviation Administration (FAA), by the end of the month, is
      REUTERS; PHOTO: AFP  -  703 words
    • Article
      Lock icon Amex renews exclusive deal with Delta Air
      353 21 BLOOMBERG New York AMERICAN Express Co renewed its agreement with Delta Air Lines Inc to be the carrier’s exclusive credit-card issuer. The relationship will be extended for six years after the companies decided to renew the deal before the contract expired, Atlanta-based Delta
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      Lock icon Conglomerate Libra bets on upturn, ramps up purchases of boxships
      502 21 REUTERS London GLOBAL conglomerate Libra is snapping up container ships, betting on a sector recovery and lower oil prices which will cut costs and boost profitability, the group’s chief executive said. Libra has proved adept at buying and selling assets
      REUTERS  -  502 words
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  • Article
    Lock icon Shipping times
    1715 22 MONTREAL 10 120 29/7 30/7 4/8 MONTREAL 10 120 29/7 30/7 4/8 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) SIN PKL KUC KK JKT SUR CALMY CORAL 84 60 20/12 22/12 25/12 SEA CORAL 65 60 6/1 8/1 12/1 15/1 MALAYSIA
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      299 22 C a ila n E n n o r e J e d d a h B r is b a Shanghai Chittagong n e Ho Chi Minh H o n g K o n g J e b e NYK RORO (ASIA) PTE. LTD. REGULAR SERVICE TO Persian Gulf,
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  • DINING OUT
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      Lock icon Homestyle cuisine in hipster haunts
      1019 23  -  Two old Chinese eateries hold court in modern, bustling malls. BY JAIME EE jaime@sph.com.sg @JaimeEeBT NEW RESTAURANTS Jing Hua Xiao Chi #B1-04/05 Palais Renaissance 390 Orchard Road Tel: 6733-8231 Open for lunch and dinner Mon to Fri: 11.30am to 3.30pm; 5.30pm to 10pm. Open all
      PHOTOS: JAIME EE  -  1,019 words
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      160 23 SHOP THE NEW LUXURY BTLuxe Christmas 2014. In print and on your iPad. Luxury’s new guard the names you need to know Noma’s Rene Redzepi takes Tokyo Heston Blumenthal goes bionic Shigeru Ban Paper hero Tetsuya Wakuda’s Kyoto tour Digital exclusives only in the BTLuxe iPad app The Great Safari
      160 words
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  • LIFE & CULTURE
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      Lock icon Christmas – a time for giving
      581 24  - Christmas a time for giving Charities were active in the past week as Christmas nears TAKING HEART By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Soft toy donations wanted from Food From The Heart ORIGINAL stories were spun for children from Food From The Heart by local authors such as Adeline Foo, who
      581 words
    • Article
      Lock icon Italy’s family firms endure crisis better, but governance remains a challenge
      805 24 XINHUA Rome ITALIAN family businesses proved to be more resilient to the economic crisis than other types of companies, especially when they undertook internationalisation processes, a recent study showed. Family firms are considered a pillar of Italian economy and,
      XINHUA  -  805 words
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      65 24 MAKE YOUR CHRISTM S GIFT LAST ALL YEAR LONG FROM ONLY $1.50 PER ISSUE! A GIFT FOR YOUR LOVED ONE OUR GIFT TO YOU 30% savings for 1-year print subscription 60% savings for 1-year digital subscription FREE 3-month digital subscription of your favourite magazine or HWM Subscribe at www.sphmagazines.com.sg/ xmaspromo2014
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  • Page 24 Miscellaneous
    • Miscellaneous
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      309 24 CRYPTIC CROSSWORD Across 1 Animal with a head for heights (7) 5 With air-conditioning being installed, wise to find peace and quiet? (7) 9 New car is on account, but capital is required (5) 10 Alice pops out of the church (9) 11 One bound to learn his craft (10)
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