The Business Times, 17 December 2014

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Microfilm: NL33313
Total Pages: 24
1 24 The Business Times
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  • Title Section
    Lock icon Masthead
    32 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G I C ©BTBreakingnews I CO REGN NO *****2868E MCI (P) 051/08/2014 I Wednesday, October 8, 2014 Wedn sday, December 17
    32 words
  • Article, Illustration
    Lock icon DAILY DIGEST
    207 1 The rouble plunged more than 11 per cent against the dollar on Tuesday in its steepest intraday fall since the Russian financial crisis in 1998.TOP STORIES/2 Singapore has the world’s highest level of smartphone penetration and its population is among the most tech-savvy in the world. Yet in
    207 words
  • Article
    Lock icon MARKETS
    27 1 Tuesday Change STI 3,215.09 -79.05 KL COMP 1,673.94 -23.37 NIKKEI 225 16,755.32 -344.08 HANG SENG 22,670.50 -357.35 SHENZHEN B 1,021.73 -0.23 DOW (11am EST) 17,261.85 +81.01
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  • Article, Illustration
    Lock icon CDL ties up with Blackstone, CIMB to monetise Sentosa Cove assets
    917 1  -  Through the club deal, these investors buy the present and future cashflows of properties collectively known as the Quayside Collection By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore CITY Developments Limited (CDL) has come up with a novel way of monetising
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  • Article
    Lock icon Oil falls through another support
    629 1  -  Analysts warn of more price volatility, highlight how plunging prices can hurt capital markets By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore ANOTHER day, another psychological support level for oil breached as international crude Brent fell below US$60 a barrel to as low as US$59.02 for the
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      124 1 *****4 SALE OF WEST END BUILDING Property disposal doesn’t signal London market exit: Sinarmas REAL ESTATE /10 POPULAR CARS SHARE BUYBACKS Picking up momentum in second week of December COMPANIES MARKET 6 Corolla Altis overtakes German counterparts as top model TRANSPORT 17 STRAIT TALK Confidence wanes as 2014 comes to
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  • TOP STORIES
    • Article, Illustration
      Lock icon Rouble down more than 11% after rate hike
      552 2 The currency has fallen close to 20% this week, taking its losses this year against the US dollar to more than 50% REUTERS MOSCOW THE rouble plunged more than 11 per cent against the dollar on Tuesday in its steepest intraday fall
      REUTERS; PHOTO: REUTERS  -  552 words
    • Article
      Lock icon KL current account seen slipping to deficit as early as this quarter
      458 2  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur MALAYSIA’S current account could slip into a slight deficit as early as the current quarter, the Bank of America Merrill Lynch has warned, even as it faces the risks of missing both
      458 words
    • Article
      Lock icon China’s factory activity shrinks in December
      462 2 HSBC/Markit manufacturing PMI falls to 49.5 first contraction in 7 months REUTERS Beijing ACTIVITY in China’s industrial sector contracted in December for the first time in seven months, the latest in a string of weak economic indicators that will intensify calls for more stimulus
      REUTERS  -  462 words
    • Article
      Lock icon Housing starts decline for third straight month
      489 3 Dec manufacturing PMI falls to 53.7, matching January low LATEST US DATA US manufacturers surveyed. BLOOMBERG, REUTERS Washington HOUSING starts declined 1.6 per cent to a 1.03 million annualised rate in November for a third consecutive month, continuing a slow recovery in the
      US manufacturers surveyed. BLOOMBERG, REUTERS  -  489 words
    • Article, Illustration
      Lock icon Digital advertising lags in tech savvy Singapore: PwC survey
      801 3  -  local advertising industry faces four hurdles in developing a more aggressive digital presence By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore IN today’s digitally connected world, Singapore exhibits an interesting dichotomy that is perhaps unique. At 85 per cent, the country has
      Source: PwC Entertainment & Media Outlook, PwC interviews (Singapore)  -  801 words
    • Article
      Lock icon Employers get a guide on spelling out employment terms in writing
      605 4  -  They will be required by law to do so by the first half of 2016, along with itemised payslips By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore GUIDELINES were unveiled on Tuesday to help employers, especially those in small and
      605 words
    • Article
      Lock icon S’pore’s first P2P lending campaign gets big response
      575 4  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore CROWDFUNDING, an alternative means of funding for startups and SMEs (small and medium enterprises), is slowly but steadily catching on in Singapore. On Tuesday, MoolahSense, a debt crowdfunding or peer-to-peer (P2P) lending platform that allows individuals
      575 words
    • Article
      Lock icon Uber could pay dearly for brazen behaviour
      354 4  -  By Robert Cyran REUTERS BREAKINGVIEWS UBER’s law flouting could bring its joyride to a screeching halt. The taxi app company is covering its drivers’ fines for illegally picking up passengers. That may be just another business expense to a firm that earned a
      REUTERS BREAKINGVIEWS  -  354 words
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      56 words
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      108 words
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      184 4 10 ways to luxe up your Christmas 2 Pick your Christmas gifts from our luxe shopping list 3 Enjoy a Simpler Time 4 Shop the new luxury 5 Have a cup of (Fairtrade) coffee Download BTLuxe Christmas for iPad and win two business class tickets to Tokyo on ANA 1
      184 words
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Olam unveils US$1.3b acquisition of ADM’s global cocoa business
      717 5  -  Shares plummet 3.5% on news of the purchase and amid a broad market retreat By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore SHARES in Olam International fell after the agri-commodities group announced a US$1.3 billion purchase of the global cocoa business of Archer
      Source: Bloomberg  -  717 words
    • Article
      Lock icon Huan Hsin unit to sell assets in Shanghai for 126.7m yuan
      410 5  -  By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore AS part of its efforts to get off the Singapore Exchange (SGX) watch-list, electronics manufacturer Huan Hsin Holdings is selling assets in Shanghai for 126.7 million yuan (S$26.84 million). Its wholly owned subsidiary
      410 words
    • Article, Illustration
      Lock icon Share buybacks pick up momentum in second week of December
      753 6  -  Pacific Century Regional Developments leads the top five; two of the biggest purchases come from oil-related companies By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore SHARE buybacks accelerated last week in total value terms, with two of the five biggest purchases done
      Source: Bloomberg  -  753 words
    • Article
      Lock icon Straits Trading unit to buy Chongqing development
      275 6  -  By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore A SUBSIDIARY of The Straits Trading Company is proposing to acquire a retail development known as Times Midtown in Chongqing, China, for about 668.4 million yuan (S$ 141.65 million). Straits Real Estate (SRE), through its wholly-owned subsidiary
      275 words
    • Article, Illustration
      Lock icon ADB okays US$100m loan to Yoma
      482 7  -  Loan in 2 equal tranches for infrastructure connectivity subprojects in Myanmar By Malminderjit Singh msingh@sph.com.sg @MalminderjitBT Singapore THE Asian Development Bank (ADB) has approved a loan of up to US$100 million to Singapore-listed Yoma Strategic Holdings for works relating to infrastructure connectivity in Myanmar.
      482 words
    • Article
      Lock icon Sinopipe unit secures 30m yuan contract
      193 7  -  By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore SINOPIPE Holdings’ subsidiary, Aton Plastics (Chongqing), has secured a contract worth 30 million yuan (S$6.35 million) related to a rain drainage system at Chongqing Jiangbei International Airport. Aton was notified by the airport operator on Dec 2 of
      193 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 8 STI Catalist Straits Times Index Dec 16,2014 3,215.09 -79.05 (-2.40%) Current streak 2 days Day high 3,279.91 Day low 3,212.09 52-week high 3,374.06 (July 31, 2014) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist index Dec 16,2014 730.56 -12.46 (-1.68%) Current streak 1 day Day high 745.38 Day low
      63 words
    • Article, Illustration
      Lock icon Banks’ price retreat pulls down STI
      707 8  -  Oil-affected counters manage to hold their ground after having been battered for several days TT STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THE three Singapore banks have propped up the Straits Times Index (STI) and ensured its outperformance in the past fortnight as other markets
      Source: Bloomberg  -  707 words
    • Article
      Lock icon STI STOCKS
      306 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 233 -2 235/230 250 206 6.1 5887.2 CapitaLand 314 -10 324/313 348 268 15.7 2.5 *****.2 CapitaMall Trust 198 -5 203/196.5 209 180 5.2 6867.2 CityDev 970 -26 1003/965 1118 860 13.2
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    • Article
      Lock icon MOST ACTIVE
      36 8 VOLUME IHC 90,660,000 GSH 67,481,000 SIIC Environment 59,411,000 Genting Sing 36,703,000 Mirach Energy 36,573,000 Market volume 1,415,217,000 VALUE DBS Grp 145,565,720 SingTel 121,763,075 UOB 98,408,600 OCBC Bank 76,931,270 Keppel Corp 75,089,200 Market value 1,462,303,000
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Dec 16 VALUE CLOSE BT OB/OS -790.00 -265.00 BT CADI -*****.00 -221.00 BT 10-day MA -*****.00 -79.00 FTSE ST Mid Cap 730.53 -5.08 FTSE ST Small Cap 482.71 -4.37 FTSE ST All Share 773.10 -16.05 FTSE ST China Top 181.92 -1.85 FTSE ST China 217.69 -2.95 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 16,2014 773.10 -16.05 (-2.03%) Current streak 2 days Day high 786.26 Day low 772.60 52-week high 819.39 (July 31, 2014) 52-week low 722.35 (Feb 5, 2014)
      35 words
    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE Index Dec 15,2014 1,729.49 -37.60 (-2.13%) Current streak 6 days Day high 1,768.87 Day low 1,729.49 52-week high 1,995.49 (July 3, 2014) 52-week low 1,714.64 (OCt 16, 2014)
      33 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 1 9 4 0 0 0 1 9 4 Manufacturing 24 60 36 2 14 6 26 74 42 Commerce 15 29 12 6 4 8 21 33 20 Tpt/Stor/Comms 4 29 8
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 24,607 24,607 116,148 116,148 Manufacturing 139,673 32,463 172,136 128,302 2,766 131,068 Commerce 132,466 18,410 150,876 130,566 1,695 132,261 Tpt/Stor/Comms 135,046 455 135,501 240,396 170 240,565 Finance 32,793 10 32,803 349,608 2 349,610 Construction 29,591 10,904
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    • Article
      Lock icon GAINERS
      78 8 BY CENTS CLOSE UP 52w high/low DBXT MSTHAI US$ 1954 31.4 1.2 2225/1620 DBXT CSI300 US$ 929 22.2 1.9 958/613 Lyxor ChinaH US$ 1532 15.7 0.8 1641/1221 DBXT S&P Short US$ 2297 13.1 0.4 2752/2215 DairyFarm USD 914 7.8 0.7 1090/884 BY PERCENTAGE CLOSE UP 52w high/low BlueSkyPower 13.8
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    • Article
      Lock icon LOSERS
      77 8 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -176.4 -1.2 *****/***** Jardie C&C 3994 -152.0 -3.7 4901/3330 SPDR S&P500 US$ ***** -149.0 -0.6 *****/***** DBXT MSEurope US$ 5453 -146.3 -2.0 6492/5366 DBXT MSJAP US$ 4436 -130.7 -2.2 4814/4260 BY PERCENTAGE CLOSE DOWN 52w high/low Ezion MBeCW*****4 1.2 -45.5
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    • Article
      Lock icon UNUSUAL ACTIVITY
      80 8 VOL CLOSE($) CHANGE LottVision 34,612.0 0.008 -0.002 -20.00 ES 1,038.0 0.198 +0.053 +36.55 BlueSkyPower 691.0 0.138 +0.046 +50.00 Fabchem China 550.0 0.080 -0.011 -12.09 ISR Capital 689.0 0.019 -0.007 -26.92 Ban Leong 60.0 0.250 -0.045 -15.25 Sinostar Pec 362.0 0.090 -0.005 -5.26 UniFiber System 3,465.0 0.005 -0.001 -16.67
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    • Article
      Lock icon SGX ETFs
      109 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 327 -6 751 334/326 343/298 327/328 UETF SSE50China 203 108 206/200 217/140 204/205 63.4 IS MS India US$ US712 -21 95 724/712 790/541 710/712 89 Nikko AM STI ETF 330 cd -8 94 350/330
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    • BROKERS’ TAKE
      • Article
        Lock icon First Sponsor Group
        134 8 Buy Dec 16 close: S$1.20 DBS Group Research, Dec 16 WE initiate coverage on First Sponsor Group with a buy call and target price of S$1.43. With growing property development business in Chengdu and Dongguan to serve mass market residential property demand, First Sponsor Group is currently
        134 words
      • Article
        Lock icon Swiber Holdings
        85 8 Hold Dec 16 close: S$0.29 Maybank Kim Eng Research, Dec 15 SWIBER broke its long order drought by announcing a new contract of US$710 million. The contract marks the group’s maiden foray into West Africa and comes at a crucial time of fast order-book depletion. Still, its order-win
        85 words
      • Article
        Lock icon Singapore Property
        168 8  -  Compiled by Jamie Lee underweight Citi Research, Dec 15 UNSOLD inventory hits a post-TDSR high. The buildup in unsold inventory, amid the second-lowest primary sales in a decade, is likely to continue into 2015, and this means that developers’ pricing power would continue to come under pressure as
        168 words
      • Article
        Lock icon CALENDAR
        30 8 DATA I 8.30 am Singapore Non-Oil Domestic Exports I 4.00 pm Singapore COE Bidding Results I 8.00 pm US MBA Mortgage Applications I Singapore MAS Survey of Professional Forecasters
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    • Article
      Lock icon Yen hits one-month high amid oil slump
      407 9 TT CURRENCIES London THE yen hit a one-month high against the dollar and the euro on Tuesday as investors bought safe-haven currencies amid a slide in oil prices that has triggered a bout of volatility across asset classes. The rouble a major victim
      407 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Dec 16 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.959 5.099 0.661 6.382 52.175 104.211 0.966 8.952 2.874 1.062 82.743 36.811 1.076 9.597 0.794 25.772 27.139 0.526 0.823 Canada 1.043 5.317
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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, Illustration
        Lock icon HANG SENG
        2 9
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      • Article, Illustration
        Lock icon NIKKEI
        1 9
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 9 Dec 16 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0753 1.0759 0.8230 0.8233 Canadian dollar 1.1216 1.1219 0.8585 0.8584 Euro 1.6266 1.6271 1.2449 1.2451 NZ dollar 1.0121 1.0126 0.7746 0.7749 Sterling pound 2.0451 2.0462 1.5652 1.5658
        155 words
      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Dec 16 S$ Bid Offer 1-month 1.3075 1.3078 2-months 1.3076 1.3081 3-months 1.3072 1.3075 6-months 1.3073 1.3077 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        365 9 Dec 16 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.42 *****.39 *****.83 Mar15 *****.00 *****.00 *****.00 *****.00 *****5 *****9 Jun15 *****.00 *****.00 *****.00 *****.00 2 2645 MSCI TAIWAN INDEX FUTURES SPOT 330.75 332.74 329.15 Dec14 333.00 333.20 327.50 328.80 ***** *****5 Jan15 333.00
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        204 9 Most active Dec 16 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB ePW*****2 17.9 4.5 ***** 0.2 1910 4 Rowsley Ltd W*****3 4 -0.1 4475 1 18 22 UOB MB eCW*****2 11.2 -6.2 3650 0.1 2360 3
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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 15 Index Change Change Change Change Change Change World Preliminary 1226.2 -1.2 3.5 -1.3 3.5 -1.4 -0.5 EAFE Preliminary 947.2 -1.8 -0.9 -2.1 -6.1 -2.1 -9.7 Europe Preliminary 1313.3 -2.1 -3.1
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    • BANK RATES
      • Article
        Lock icon SIBOR
        36 9 Dec 16 (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 16 $S Offer Bid 0vernight 0.08 0.03 1-month 0.3750 0.2500 2-months 0.4375 0.3125 3-months 0.4375 0.3125 Overnight mode: 0.10 US$ 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
        61 9 Dec 16 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105.38 105.40 105.38 5-Year N*****0H 1.625 01-Oct-19 100.62 10-Year NY*****H 3.000 01-Sep-24 107.33 107.50 107.45 15-Year NY*****E 2.875 01-Jul-29 104.57 20-Year NZ*****V 3.375 01-Sep-33 110.26 30-Year NA*****N 2.750 01-Apr-42
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        209 9 Dec-15 Price Net change change Last Trade Agricultural Dec-15 CBOT Soybeans (US cents/bu) 1039.50 -7.75 -0.74% 14/01/2015 CBOT Soybean Oil (US cents/lb) 32.27 -0.09 -0.28% 14/01/2015 CBOT Wheat (US cents/bu) 619.00 12.50 2.06% 13/03/2014 Dec-15 LIFFE Cocoa (£/tonne) 1907.00 19.00 1.01% 16/03/2015 LIFFE Coffee (US$/tonne) 1936.00 -8.00 -0.41%
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      • Article
        Lock icon PALM OIL
        57 9 Dec 16 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 14 2130.0 2113.0 2133.0 2104.0 735 ***** Jan 15 2149.0 2120.0 2150.0 2112.0 ***** ***** Feb 15 2149.0 2121.0 2151.0 2114.0 ***** ***** Mar 15 2145.0 2121.0
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      13 5 Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your IPOs other offerings
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      479 7 InvestorRelationsHighlights Excelpoint’s Pan-Asian network to distribute Hittite microwave products from Analog Devices Excelpoint Technology Ltd will be distributing the complete RF and microwave portfolio, including the Hittite Microwave Products from Analog Devices (“ADI”), a global leader in high-performance semiconductors for signal processing applications. These products will be distributed through its
      479 words
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      626 7 It off 7 t > AS > f r > *i •C s g, 'A 41 n «k4» 0 SINGAPORE EXCELLENCE AWARD 2014 RECIPIENTS AWARD PRESENTATION CEREMONY ON 17.11.2014 SINGAPORE EXCELLENCE AWARD 2014 A CUT ABOVE THE REST SINGAPORE EXCELLENCE AWARD IS TO PROMOTE AND HONOR OUR LOCAL SELF-DETERMINED ENTREPRENEURS
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Property disposal doesn’t signal London market exit: Sinarmas
      1037 10  -  “Opportunistic” sale triggered by good offer; company plans to recycle proceeds into more London acquisitions By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore SINARMAS Land’s disposal of a Grade A office building in London’s West End last Friday, just one-and-a-half years after acquiring it,
      1,037 words
    • Article
      Lock icon Wanda Commercial raises US$3.7b in IPO
      272 10 AFP Hong Kong CHINESE shopping mall developer Dalian Wanda Commercial Properties Co has raised US$3.7 billion in an initial public offering (IPO) in Hong Kong, a report said on Tuesday, making it the biggest in the world by a real estate firm. The company,
      AFP  -  272 words
    • Article, Illustration
      Lock icon UK property tax cut won’t stoke bubble: survey
      696 10 BLOOMBERG London GEORGE Osborne’s tax cut for homebuyers isn’t reviving concern about another property bubble. That’s according to Bloomberg’s monthly survey, which showed two-thirds of 36 economists don’t expect the move to increase the risk of overheating. Mr Osborne announced the decision
      BLOOMBERG; PHOTO: REUTERS  -  696 words
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      1520 10 The Business Times Ik T Axnpj Toll free 1800-289-8822 I I I Email noticescisph.com.sg J I I i ij www.sphdass.com,sg/notices KHONG GUAM FLOUR MILLING LIMITED (the "Company”) (Registration No.*****0096G) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING Unless otherwise defined, all capitalised terms herein shall bear the
      1,520 words
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  • BANKING & FINANCE
    • Article
      Lock icon ING boss maps out growth with the use of technology
      986 11 In Germany, France, Italy and Spain, ING is going high-tech to offer services that don’t need a costly branch network BLOOMBERG Amsterdam DINING with leaders of five Silicon Valley startups, ING Groep NV chief executive officer Ralph Hamers asked how
      BLOOMBERG  -  986 words
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      Lock icon UK’s 4 biggest lenders pass central bank stress tests
      431 11 AFP London BRITAIN’S four biggest lenders have passed the Bank of England’s (BOE) stress tests, which are designed to show their ability to withstand a new economic crisis, the central bank said on Tuesday. Barclays, HSBC, Royal Bank of Scotland (RBS)
      AFP; PHOTO: BLOOMBERG  -  431 words
    • Article
      Lock icon UK exec barred from financial industry
      682 11 The former BlackRock MD is found to have evaded train fares over 5 years NYT London REGULATORS have been accused of not cracking down hard enough on bankers who manipulate the system. That can hardly be said in the case of Jonathan Paul Burrows.
      NYT  -  682 words
    • Article
      Lock icon McKinsey says banks have to step up digital efforts to stay relevant
      370 11 BLOOMBERG New York BANKS must increase efforts to offer digital services and automate back-of-fice functions to improve returns, satisfy regulators and ward off new competitors, according to McKinsey Co. Some banks need to think of themselves as data
      BLOOMBERG  -  370 words
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      834 11 The Business Times Ik 1 X 1 Toll free 1800-289-8822 I I I Email noticesfSsph.com.sg I W I I i j ij www.sphclass.com.sg/notices PACIFIC ANDES RESOURCES DEVELOPMENT LIMITED (Incorporated in Bermuda with limited liability) NOTICE OF BOOKS CLOSURE DATE FOR THE RIGHTS ISSUE The board of directors (the "Board") of
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  • ENERGY & COMMODITIES
    • Article
      Lock icon Price plunge seen sparking tensions in 2015
      758 12 Some want lower prices to counter rise of US shale oil; others want higher prices to salvage teetering economies OIL ROUT AFP London THE oil market faces an uncertain outlook in 2015 as tumbling prices resulting from global oversupply stoke geopolitical tensions in
      AFP  -  758 words
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      Lock icon Brent seen falling to US$50 as Opec sticks to output decision
      392 12 BLOOMBERG London CRUDE oil prices are poised to fall below half where they were six months ago, before producers begin dealing with a global glut. Brent, the global benchmark, will slide to as low as US$50 a barrel in
      BLOOMBERG; PHOTO: REUTERS  -  392 words
    • Article
      Lock icon Cheaper oil seen a boon for US banks
      654 12 Trading expected to jump, consumers will have more money to spend BLOOMBERG New York THE benefits of cheaper oil for the biggest US banks a jump in trading and consumers with more money to spend will outweigh the costs, according to executives
      BLOOMBERG  -  654 words
    • Article
      Lock icon US may hike oil output, says Goldman Sachs
      449 12 Melbourne US producers battling Opec for market share may increase output further from the highest rate in more than three decades as costs decline almost as fast as oil prices, according to Goldman Sachs Group Inc. The slump in benchmark US crude
      449 words
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      439 12 The Business Times Ik ~T I 1 I f I 1 Toll free 1800-289-8822 I I I Email notices@sph.com. sg I V j k J www.sphclass.com.sg/notices THE BVI BUSINESS COMPANIES ACT, 2004 BROOKE HOLDINGS LIMITED (Company Number: *****62) (the "Company") (IN VOLUNTARY LIQUIDATION) Notice is hereby given pursuant to Section
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      137 12 Form 69(3) IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF KRISTON FOOD BEVERAGE PTE LTD (IN COMPULSORY LIQUIDATION) (Co Reg. No. *****5795R) NOTICE OF INTENDED DIVIDEND Name of Company: Kriston Food Beverage Pte Ltd (In Compulsory Liquidation) Address of Registered Office C/o 47 Hill
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  • TECHNOLOGY
    • Article
      Lock icon Hacked e-mail shows Sony received US$7b proposal
      769 13 Unidentified investors wanted to fund Sony’s film production and buy company stock BLOOMBERG Tokyo SONY Corp’s entertainment unit was approached over a potential US$7 billion financing offer from a group it believed was linked to princes from the Middle East, according to documents
      BLOOMBERG  -  769 words
    • Article
      Lock icon Tech, media groups back Microsoft in privacy case
      415 13 Support reflects significance of privacy in digital age WP Washington TEN top technology and media groups and business organisations on Monday filed legal briefs in support of Microsoft’s argument to a federal appeals court that the US government cannot issue a search
      WP  -  415 words
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      454 13 Wine, Dine gnts A FESTIVE SUPPLEMENT BY PREGO A TASTE OF HOME FjrEgo 21 DECEMBER 2014 1 JANUARY 2015 *4 w t'iSSW EG Spend a warm Christmas with family and friends over authentic Italian cuisine at Prego. 21 28 December 2014 Chef Antonio’s Top 40 Lunch Buffet $88' 1 per
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  • CONSUMER
    • Article
      Lock icon EPL scores in its sale of TV broadcasting rights
      464 14 NYT New York EVERY three years, England’s Premier League tests its value as a television property, and usually, that test produces smiles among its clubs. Last week, it began the formal process of seeking more money from networks at home and
      NYT  -  464 words
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      Lock icon Online ventures target ‘Muslim lifestyle’ market
      815 14 Rising per capita income, internet penetration, mobile use and mobile commerce fuel demand for halal products REUTERS London FROM travel guides to shopping portals, new Internet ventures aim to capitalise on the growing “Muslim lifestyle” market, which is expanding beyond food to include areas
      REUTERS; FILE PHOTO  -  815 words
    • Article, Illustration
      Lock icon No reprieve for US orange juice rout
      617 14 BLOOMBERG New York ORANGE juice remains the most popular fruit beverage in the US. The problem is, many Americans just don’t drink it anymore. Annual consumption for a juice that became a US breakfast staple after World War II is now the lowest
      BLOOMBERG; PHOTO: BLOOMBERG  -  617 words
    • Article
      Lock icon Ikea to open its first Korean store this week after ruffling a few feathers
      563 14 AFP Seoul GLOBAL furniture giant Ikea opens its first store in South Korea on Thursday, a much-anticipated market entry that has stumbled at a number of commercial and cultural hurdles along the way. Expectations are high
      AFP  -  563 words
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Economists see wage gains as US recovery spreads to more workers
      1259 15 Nascent uptick in wages prompts fresh warnings from more hawkish Fed officials to ward off “potential threat of inflation” NYT New York FOR years, even as the economy recovered and the stock market soared, most US workers saw little
      NYT; PHOTO: AFP  -  1,259 words
    • Article
      Lock icon Democrats split on whether to take credit for good economic news
      994 15 NYT Washington DEMOCRATS would like some credit for the run of good economic news. Yet the better those reports are, the more divided the party has become over how even whether to take any. In one camp are Democrats
      NYT  -  994 words
    • Article
      Lock icon BRICS lead massive illicit capital flight, says report
      368 15 REUTERS Johannesburg The BRICS grouping of emerging market nations is leading the flight of illicit capital from the developing world, according to data in a new report released this week. In its annual estimate of illegal capital flows, Washington-based think-tank Global Financial
      REUTERS  -  368 words
    • Article
      Lock icon China FDI up 22.2% in November despite economic slowdown
      535 15 AFP Beijing FOREIGN investment into China accelerated in November, government data showed on Tuesday, despite a worsening slowdown in the world’s sec-ond-largest economy and concerns over business risks. Foreign direct investment (FDI) which excludes financial sectors rose 22.2 per cent year
      AFP  -  535 words
    • Article
      Lock icon Weak PMI data pushes eurozone yields to new lows
      587 16 It also reinforces bets ECB could soon start buying sovereign bonds to inject money into euro-area economy REUTERS London BOND yields of several eurozone countries touched new record lows on Tuesday after weak private sector growth data indicated a slump in
      REUTERS  -  587 words
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      Lock icon After record year, Australia IPO market seen slowing in 2015
      666 16 REUTERS Sydney AUSTRALIA is set for a slowdown in initial public offerings in 2015 after a record this year as lacklustre performances by recent listings and jittery stock markets caused by a slump in commodities prices cool investor enthusiasm. Investment
      REUTERS; PHOTO: REUTERS  -  666 words
    • Article
      Lock icon Taliban attack on Pakistani school kills 130, mostly children
      526 16 REUTERS Peshawar AT LEAST 130 people, most of them children, were killed on Tuesday after Taliban gunmen broke into a school in the Pakistani city of Peshawar and opened fire, witnesses said, in the bloodiest massacre the country has seen for
      REUTERS  -  526 words
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      Lock icon Modi clears US$19b of arms procurement proposals
      633 16 BLOOMBERG New Delhi PRIME Minister Narendra Modi has cleared US$19 billion of arms procurement proposals since taking power in May, almost double India’s spending on weapons in the last fiscal year as he tries to modernise the country’s military. The blitz of 41
      BLOOMBERG; PHOTO: AFP  -  633 words
    • Article
      Lock icon German SMEs may lose billions if court rules against estate tax benefits
      779 16 BLOOMBERG Berlin GERMAN business owners warned they may be forced to slash investments and even sell holdings if they lose a privilege that has allowed them to avoid billions in taxes. The country’s constitutional court will decide on
      BLOOMBERG  -  779 words
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  • TRANSPORT
    • Article
      Lock icon Corolla Altis overtakes German counterparts as top model
      568 17  -  Last year’s top model E-Class slips to No 2; increasing number of replacement buyers a key factor By Samuel Ee samuelee@sph.com.sg Singapore MASS market buyers returning to the showroom this year have powered the Toyota Corolla Altis past luxury models to become
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      Lock icon Maserati moves to prime motor belt
      562 17  -  By Samuel Ee samuelee@sph.com.sg Singapore MASERATI has nudged its Singapore distributor into opening a bigger showroom in Singapore’s prime motor belt for “higher automotive visibility” as the Italian luxury carmaker targets a more than doubling of production by 2017. Last week, Hong Seh Motors
      PHOTO: JOSEPH NAIR  -  562 words
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      Lock icon Tanker markets to gain from oil stockpiling due to price fall
      403 17 REUTERS London THE drop in oil price will hand tanker markets an unexpected bonus next year, boosting demand for oil storage at sea while distant eastern markets also bargain-hunt fuel and need shipping. Supertanker rates are already close to
      REUTERS; PHOTO: BLOOMBERG  -  403 words
    • Article, Illustration
      Lock icon Tata-SIA carrier gets air operator permit
      289 17  -  By Lee u-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore NEW Indian carrier Vistara has been granted the Air Operator Permit (AOP) by India’s Directorate General of Civil Aviation, nearly nine months after the airline applied for the licence to begin commercial operations in the country. Vistara, also
      PHOTO: AFP  -  289 words
    • Article
      Lock icon FedEx to buy reverse logistics company Genco
      525 17 BLOOMBERG Dallas FEDEX Corp has agreed to buy closely held reverse logistics firm Genco, a specialist in handling product returns, as e-commerce operations expand at the operator of the world’s largest cargo airline. No terms were given for the transaction. FedEx said on
      BLOOMBERG  -  525 words
    • Article
      Lock icon Confidence wanes as 2014 comes to a close
      991 18  -  TT STRAIT TALK BY DAVID HUGHES IT would be nice to report a “feel-good” story as we approach the end of 2014. Unfortunately, the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens is distinctly downbeat. Overall confidence levels
      991 words
    • Article
      Lock icon Slow progress in US West Coast port talks
      713 18 Eventual settlement key to easing severe cargo delays that began in mid-October REUTERS Los Angeles THE union for 20,000 dockworkers and a group of their employers at 29 US West Coast ports have said that they are making slow but steady progress
      REUTERS  -  713 words
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      Lock icon McDonald’s Japan rations fries as US port jams delay imports
      365 18 REUTERS Tokyo MCDONALD’S Holdings Co (Japan) Ltd has embarked on the emergency measure of offering only small-sized french fries to customers as a protracted labour dispute at US West Coast ports has contributed to long delays in imports. The fast-food
      REUTERS; PHOTO: REUTERS  -  365 words
    • Article
      Lock icon US taxpayers help fund oil-train boom amid safety concerns
      981 18 REUTERS New York FOR the past 18 months, Americans from Albany to Oregon have voiced growing alarm over the rising number of oil-laden freight trains passing through their cities, a trend they fear is endangering public safety. In at least a
      REUTERS  -  981 words
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  • Article
    Lock icon SHIPPING TIMES
    1740 19 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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      301 19 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,
      301 words
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  • OPINION
    • Article
      Lock icon Cyber-attacks will remain a big headache in the New Year
      505 20 EDITORIAL IN today’s interconnected digital world, major technology trends such as cloud and mobile computing, big data and analytics have caused disruptive innovation across all industry verticals. Increasingly, an online presence has become vital for both enterprises as well as
      505 words
    • Article
      Lock icon Yellen must gird for activist investors in 2015
      879 20  -  TT THE BOTTOM LINE By Rob Cox REUTERS BREAKINGVIEWS JANET Yellen faces a long list of challenges for 2015. The Federal Reserve chair must keep her fellow governors aligned on the timing of interest rate increases while battling a Congress hell-bent on
      | REUTERS BREAKINGVIEWS  -  879 words
    • Article, Illustration
      Lock icon Getting ahead in Islamic finance
      1356 20  -  Singapore must embrace breakthrough strategies to become a truly competitive Islamic financial centre. BY TAN CHONG HUAT, NIZAM ISMAIL T The writers are, respectively, managing partner and head of banking and finance practice, and partner and head of compliance solutions at RHTLaw Taylor Wessing LLP
      PHOTO: MOHD TAUFIK A KADER/BERITA HARIAN  -  1,356 words
    • Article
      Lock icon US-China climate pact a good start, but not quite enough
      838 21  -  TT COMMENTARY By Frank-Jürgen Richter T The writer is founder and chairman of Horasis, a global visions community THE meeting in Lima, Peru, of the United Nations Framework Convention on Global Warming, which concluded on Sunday without a pathbreaking agreement,
      838 words
    • Article
      Lock icon Seismic changes emerging to shape India’s political economy: Subbarao
      965 21  -  By Narendra Aggarwal T This article was first published on NUS Business School’s Think Business portal (thinkbusiness.nus.edu) AS the new government of Prime Minister Narendra Modi tries to rev up India’s economy, a pattern of seismic changes or “mega-trends” is emerging
      965 words
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      Lock icon Geopolitical fallout from weak oil prices
      1341 21  -  The impact of the plunge goes beyond the Middle East. BY LEON HADAR Washington MUCH of the discussion about the dramatic changes taking place in the international oil markets that have brought about a more than 40 per cent fall in Brent crude since
      PHOTO: AFP  -  1,341 words
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon A new vodka for Bond’s martinis
      798 22 Belvedere Vodka to appear in next 007 movie Spectre NYT New York SOME James Bond fans will be shaken, and others stirred, to learn that 007 is being given a new vodka for his martinis. Belvedere Vodka has signed a partnership deal to appear
      NYT; PHOTO: AFP  -  798 words
    • Article, Illustration
      Lock icon Trending now at Google: Robin Williams
      440 22 AFP San Francisco ROBIN Williams’s death had people worldwide scouring the Internet for insights into the famed comic’s life, making him the hottest search trend of the year on Google, the Web giant said Tuesday. “The passing of beloved comedian and actor Robin Williams
      AFP; PHOTO: AFP  -  440 words
    • Article, Illustration
      Lock icon US workers struggle to keep up as robots grow smarter
      1039 22 NYT New York A MACHINE that administers sedatives recently began treating patients at a Seattle hospital. At a Silicon Valley hotel, a bellhop robot delivers items to people’s rooms. Last spring, a software algorithm wrote a breaking news article about
      NYT; PHOTO: NYT  -  1,039 words
    • Article
      Lock icon Marijuana enjoys a legal high in 2014
      551 22 AFP Washington IT’S been something of a breakthrough year for marijuana, the once shunned intoxicant that is steadily gaining ground as a legal high in parts of the world. In 2014, Uruguay may have been the only country to fully legalise pot, but
      AFP  -  551 words
  • Page 22 Miscellaneous
    • Miscellaneous
      Lock icon Page 22 Miscellaneous Column 1
      343 22 CRYPTIC CROSSWORD Across 1 Do they provide a view of dogs across India? (3,7) 6 What may measure resistance if working for the Crown? (4) 10 Arrangements to pay for calls? (5) 11 Lean on board for guest on game show (9) 12 A star looking embarrassed on the way
      343 words
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      240 23 PRINTING INNOVATION NOW ON A3 9 9 o a o 2) 9 For every Samsung colour copier purchased, choose ONE of the following free gifts*: Samsung GALAXY Note 4 4G+ Samsung GALAXY S5 4G+ Samsung GALAXY Tab S (10.5") LIE SVi Multi-task Effortlessly with Samsung Printing Solutions With every business
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  • EXECUTIVE MONEY
    • Article
      Lock icon SingTel tops buys with S$167.7m
      453 24 TT ON THE RADAR GLOBAL mutual funds were net buyers of Singapore stocks in the three months to Dec 10. Based on trades in the top five stocks, there wereaboutS$1.75 billion worth ofbuys, compared to sells of S$745.5 million. This week we focus on technology
      453 words
    • Article
      Lock icon Lessons learnt from the last merger frenzy
      806 24 Private equity deal makers are increasingly wary of overpaying NYT New York MERGERS and acquisitions may be back in fashion in the corporate sphere, but the titans of private equity apparently didn’t get the memo. Firms such as Kohlberg Kravis Roberts and the
      NYT  -  806 words
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      Lock icon Asian hedge funds pip global peers
      1018 23 In first 11 months, they return 6.1%, compared to 5.7% for N America and 1.2% for Europe BLOOMBERG Singapore IN a punishing year for global hedge funds, those investing in Asia are the survivors. Stung by poor returns and large redemptions, 889 hedge funds
      BLOOMBERG; PHOTO: REUTERS  -  1,018 words
    • Article
      Lock icon Rupiah at 1998 low defies logic, says Morgan Stanley forecaster
      1064 23 BLOOMBERG Kuala Lumpur THE last time a dollar bought as many rupiah as it does now, Indonesian dictator Suharto had just been ousted and the government was paying 70 per cent to borrow money for a month after an International
      BLOOMBERG  -  1,064 words
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      260 24 UBS Wealth Insights 2015: Trends and opportunities in a diverging world sSXt MM mm >x »V/ /BBH •nnlllllllllUUWM nlBHH This year's forum brings a stellar lineup of financial experts and world-renowned opinion leaders to share the platform in exchanging their views and sharing the latest insights. Map out your investment
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      Lock icon Page 24 Advertisements Column 2
      18 24 HEDGE FUNDS Asian funds survive as others pack ups 23 INDONESIA Rupiah at 1998 low dewfies logic 23
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