The Business Times, 24 December 2014

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Total Pages: 24
1 24 The Business Times
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  • Title Section
    Lock icon Masthead
    30 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G Z ©BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 I Wednesday, October 8, 2014 Wedn sday, December 24
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  • Article
    Lock icon MARKETS
    26 1 Tuesday Change STI 3,332.51 +1.55 KL COMP 1,749.05 +5.00 NIKKEI 225 Closed HANG SENG 23,333.69 -74.88 SHENZHEN B 1,000.11 -1.53 DOW (11am EST) 18,040.42 +80.98
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  • Article, Illustration
    Lock icon DAILY DIGEST
    259 1 Prospective bidders for Singapore's inaugural public bus contract include Busways, a Sydney-based company operating in New South Wales with 750 buses. Apart from majority shareholder and managing director Richard Rowe, only three other people have a stake in Busways his 91-year-old father, his brother and his son. top
    259 words
  • Article, Illustration
    Lock icon S’pore prices dip for first time in 5 yrs
    769 1  -  But economists do not see deflationary trend as they expect wage pressures to remain By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore SINGAPORE’S headline inflation fell into negative territory in November, dropping to -0.3 per cent from 0.1 per cent in October. Although
    Source: Department of Statistics  -  769 words
  • Article, Illustration
    Lock icon Jail for former HK chief secretary, Sun Hung Kai’s Thomas Kwok
    794 1 AFP Hong Kong HONG KONG property tycoon Thomas Kwok and the city’s former deputy leader were jailed for corruption on Tuesday after a trial that shocked the city and deepened anger at cosy ties between officialdom and big business.
    AFP; PHOTO: BLOOMBERG  -  794 words
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      80 1 ||llllllllllll||llllllllllll|| 8 *****1 *****4 HOCK LOCK SIEW South Beach Consortium can afford to be patient COMPANIES MARKETS 6 AMERICA'S WAR MACHINE Arms and the Man, led by technology OPINION 22 OUTLOOK 2015: ASSET MANAGEMENT Another equity and bond rally? TOP STORIES 5 NEW GUIDELINES 20% GFA cap on medical clinics
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  • TOP STORIES
    • Article, Illustration
      Lock icon Privately-owned Aussie firm eyes S’pore bus deal
      784 2  -  Busways among more than dozen parties keen on inaugural public bus contract By Samuel Ee samuelee@sph.com.sg Singapore MORE than a dozen transport companies from all over the world are eyeing Singapore's inaugural public bus contract and they are all expected to put in
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    • Article, Illustration
      Lock icon Dow hits historic high on strong Q3 GDP
      1110 2 LATEST US DATA BLOOMBERG New York AN unexpectedly strong report on economic growth pushed the Dow over 18,000 for the first time in its history, with the index reaching a high of 18,020.19 in early trading on Tuesday. The final estimate of
      BLOOMBERG; PHOTO: AFP  -  1,110 words
    • Article
      Lock icon Correction
      91 2 IN “China SOEs will benefit as water industry consolidates” (BT, Dec 23, 2014), we incorrectly stated that China Everbright Water was listed under a direct listing framework set up between Singapore and the China Securities Regulatory Commission (CSRC) in November 2013 to cut down on red tape for China-in-corporated
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    • Article
      Lock icon PICTET
      270 2 Pictet-Absl Rtn Fxd Inc-HP EUR 18/12/2014 EUR 103,37 Pictet-Absl Rtn Glo Div-P EUR 18/12/2014 EUR 115,53 Pictet-Asian Equities Ex Japan-P USD 19/12/2014 USD 198,21 Pictet-Asian Local Currency Debt-P USD 19/12/2014 USD 145,65 Pictet-Biotech-P USD 19/12/2014 USD 709,76 Pictet-Clean Energy-P USD 18/12/2014 USD 82,00 Pictet-Digital Communication-P USD 18/12/2014 USD 215,00
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    • Article
      Lock icon North Korea goes totally offline for hours; reason unknown
      662 2 REUTERS Seoul NORTH Korea, which is at the centre of a confrontation with the US over the hacking of Sony Pictures, experienced a complete Internet outage for hours before links were restored on Tuesday, but US officials said Washington was not
      REUTERS  -  662 words
    • Article, Illustration
      Lock icon Informal capital controls stem rouble’s slide
      878 4 Russia’s currency hits two-week high as government pressures state-owned exporters to sell dollars REUTERS MOSCOW THE Russian rouble hit its highest levels in two weeks on Tuesday, shored up by informal capital control measures designed to head off a repeat of the galloping inflation
      REUTERS; PHOTO: BLOOMBERG  -  878 words
    • Article
      Lock icon Oil rises above US$61 after strong US GDP growth in Q3
      730 4 Oil analysts say positive impact of US GDP figures helped by thin trading volume slumping global prices which hit Russian exports. REUTERS, AFP London BRENT crude oil rose above US$61 abarrel onTuesday after data showed the US economy grew
      slumping global prices which hit Russian exports. REUTERS, AFP  -  730 words
    • Article, Illustration
      Lock icon Another equity and bond rally in 2015?
      1696 5  -  Observers say the biggest surprise of 2014 was how bond yields, instead of rising, fell even further OUTLOOK 2015: ASSET MANAGEMENT By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore ANALYSTS are starting to sound tired as they gaze into the crystal ball for 2015. Every
      Source: Bloomberg, Dec 23, 2014  -  1,696 words
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      28 3 SINCERE FINE WATCHES Takashimaya S.C. Ngee Ann City +65 6733 0618 Scotts Square +65 6636 0600 SINCERE HAUTE HORLOGERIE The Shopping Gallery at the Hilton +65 6738 9971
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      160 4 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
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      289 5 i 0 U m Vi SR NEW YEAR’S EVE 31 DECEMBER 2014 8PM TILL LATE FEATURING HAVANA SOCIAL CLUB BAND PARTY PACKAGE: $42 per person, includes welcome champagne $208 per couple, includes a bottle of Laurent Perrier Champagne $258 per couple, includes a bottle of Johnnie Walker Black Label/ Bombay
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon South Beach Consortium can afford to be patient
      964 6  -  HOCK LOCK SIEW BY KALPANA RASHIWALA kalpana@sph.com.sg @KalpanaBT AFTER labouring for seven years, City Developments Ltd (CDL) is finally starting to see the fruits of its hard work for the South Beach project. The first component to be completed is the 34-storey
      PHOTO: TED CHEN FOR THE STRAITS TIMES  -  964 words
    • Article
      Lock icon Boustead unveils demerger details
      563 6  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore ENGINEERING and technology group Boustead Singapore released details on Tuesday evening on its plans to unlock value for shareholders by spinning off its property arm. In an announcement, Boustead said it plans to list its Boustead Projects (BP) segment on
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    • Article
      Lock icon Telstra buys Pacnet for US$697m to boost expansion in Asia
      287 6 BLOOMBERG Melbourne TELSTRA Corp will acquire Pacnet Ltd, which operates undersea cables through Asia and across the Pacific Ocean, as Australia’s largest phone company seeks to expand in the region. The US$697 million transaction, which includes gross debt of about
      BLOOMBERG  -  287 words
    • Article
      Lock icon SGX seeking legal advice over market disruption, sources say
      473 7  -  November disruption linked to Keppel’s data hub By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore WITH its reputation on the line, Singapore Exchange (SGX) is now seeking legal advice over the recent market disruption linked to Keppel’s data hub, sources told The Business
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    • Article
      Lock icon Study finds “significant lack” of risk management disclosures among STI companies
      411 7  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THERE is an “urgent need” for organisations to have proper disclosure practices on risk management, a joint study by the Singapore Accountancy Commission (SAC) and the National University of Singapore (NUS) showed on
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    • Article
      Lock icon Share buybacks down last week at S$65m
      525 7  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore Singapore SHARE buybacks slowed down to S$65 million for the week of Dec 15-19, compared to S$91 million the previous week, a market update from Singapore Exchange (SGX) said on Tuesday. More than half of SGX buybacks
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    • Article, Illustration
      Lock icon STI / Catalist
      63 8 STI Catalist Straits Times index Dec 23,2014 3,332.51 +1.55 (+0.05%) Current streak 5 days Day high 3,353.57 Day low 3,328.74 52-week high 3,374.06 (July 31, 2014) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist index Dec 23,2014 741.00 -4.57 (-0.61%) Current streak 1 day Day high 746.85 Day low
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    • Article, Illustration
      Lock icon STI drifts sideways after 4-day climb
      628 8  -  Trading volume stays low in weak session at 993 million units worth S$778 million ahead of holiday period TT STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT HAVING bounced a total of 115 points or 3.6 per cent over four trading sessions since Tuesday last week,
      Source: Bloomberg  -  628 words
    • Article
      Lock icon STI STOCKS
      306 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 241 +2 243/240 250 206 5.9 6093.3 CapitaLand 323 unch 328/323 348 268 16.2 2.5 *****.7 CapitaMall Trust 202 unch 203/201 209 180 5.1 7005.9 CityDev 1013 -9 1035/1005 1118 860 13.7
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    • Article
      Lock icon MOST ACTIVE
      36 8 VOLUME Memstar Tech 172,991,000 IHC 57,176,000 JES Intl 31,878,000 Jaya 29,671,000 Golden Agri-Res 27,514,000 Market volume 1,120,964,000 VALUE UOB 93,347,720 DBS Grp 73,614,190 SingTel 41,104,470 Keppel Corp 37,842,530 OCBC Bank 30,889,610 Market value 787,357,000
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    • Article
      Lock icon SGX ETFs
      111 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 338 +1 348 341/337 343/298 337/339 UETF SSE50China 209 -3 159 211/208 217/140 208/209 65.3 DBXT CSI300 US$ US933 -21 46 962/930 970/613 930/932 IS Asia BND US US1031 -3 42 1038/1031 1073/995 1032/1039
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Dec 23 VALUE CLOSE BT OB/OS -223.00 +31.00 BT CADI -*****.00 -58.00 BT 10-day MA -*****.00 -22.00 FTSE ST Mid Cap 738.73 -0.90 FTSE ST Small Cap 488.24 -1.94 FTSE ST All Share 796.96 -0.06 FTSE ST China Top 184.15 -0.39 FTSE ST China 219.81 -1.24 FTSE
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    • Article
      Lock icon GAINERS
      75 8 BY CENTS CLOSE UP 52w high/low DBXT ASX200 US$ 3689 210.3 4.5 4403/3530 Lyxor LATAM US$ 565 60.9 8.9 773/519 SPDR S&P500 US$ ***** 47.6 0.2 *****/***** JMH USD 6005 45.0 0.6 6460/4934 DBXT MSMSIA US$ 1350 42.3 2.4 1598/1318 BY PERCENTAGE CLOSE UP 52w high/low Advance SCT 0.2
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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 23,2014 796.96 -0.06 (-0.01%) Current streak 1 day Day high 801.23 Day low 796.52 52-week high 819.39 (July 31, 2014) 52-week low 722.35 (Feb 5, 2014)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE Index Dec 22,2014 1,789.81 +7.77 (+0.44%) Current streak 3 days Day high 1,795.92 Day low 1,778.85 52-week high 1,995.49 (July 3, 2014) 52-week low 1,714.64 (Oct 16, 2014)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 5 6 0 0 0 3 5 6 Manufacturing 43 44 26 7 8 8 50 52 34 Commerce 13 21 18 3 6 4 16 27 22 Tpt/Stor/Comms 16 12 12
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 11,894 11,894 57,510 57,510 Manufacturing 289,491 20,681 310,172 66,918 1,730 68,649 Commerce 68,638 24,735 93,373 57,142 2,006 59,148 Tpt/Stor/Comms 98,287 300 98,587 116,606 115 116,721 Finance 15,337 100 15,437 211,086 20 211,106 Construction 30,870 10,986
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    • Article
      Lock icon LOSERS
      75 8 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -198.4 -1.3 *****/***** DBXT DBCBLEB US$ 1468 -131.0 -6.3 2110/1468 DBXT CSI300 US$ 933 -27.8 -2.2 970/613 Sarie Tech 217 -24.0 -10.0 325/179.5 DairyFarm USD 904 -19.8 -1.6 1090/884 BY PERCENTAGE CLOSE DOWN 52w high/low SembMar MBeCW15 0.5 -77.3 -1.7
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    • Article
      Lock icon UNUSUAL ACTIVITY
      81 8 VOL CLOSE($) CHANGE China Haida 238.0 0.015 -0.004 -21.05 Eucon 1,463.0 0.013 +0.001 +8.33 Memstar Tech 172,991.0 0.019 -0.006 -24.00 Pacific Hc 1,000.0 0.029 -0.002 -6.45 Magnus Energy 24,399.0 0.005 +0.001 +25.00 Cedar Strategic 6,100.0 0.002 +0.001 +100.00 Sarine Tech 1,501.0 2.170 -0.240 -9.96 L-Jacoberg 81.0 0.031 -0.004
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    • BROKERS’ TAKE
      • Article
        Lock icon Zhongmin Baihui Retail Group
        222 8 Potential gem Dec 23 close: S1.84 Voyage Research, Dec 23 ZHONGMIN Baihui Retail Group has been growing its revenue at an impressive CAGR (compound annual growth rate) of 59.3 per cent since 2011. with 13 stores strategically located in transport hubs and key residential areas in
        222 words
      • Article
        Lock icon Small/Mid-caps
        223 8  -  Compiled by Andrea Soh Buy UOB Kay Hian, Dec 19 THE Singapore MSCI small-cap index has fallen 6.5 per cent year to date (ytd) and 14.3 per cent from the 52-week high established in July. Exogenous factors such as falling crude oil prices and endogenous factors such as slower
        223 words
      • Article
        Lock icon CALENDAR
        25 8 DATA I 9.30 pm (Dec 24) US initial jobless claims US personal income and outlays I 1.00 pm (Dec 26) Singapore Industrial Production Index
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    • Article
      Lock icon Pound falls on weak data, euro at 28-month low
      401 9 TT CURRENCIES REUTERS London STERLING skidded to its weakest since early September 2013 against a rallying US dollar on Tuesday after data showed UK growth slowing in the third quarter, taking pressure off the Bank of England to raise interest rates.
      REUTERS  -  401 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Dec 23 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.942 5.050 0.664 6.296 51.477 101.131 0.975 8.948 2.838 1.049 81.545 36.276 1.074 9.385 0.799 25.767 26.708 0.521 0.812 Canada 1.061 5.358
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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, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 9
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      • Article, Illustration
        Lock icon DOW JONES
        2 9
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 9 Dec 23 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0732 1.0745 0.8113 0.8118 Canadian dollar 1.1389 1.1400 0.8613 0.8610 Euro 1.6178 1.6190 1.2230 1.2232 NZ dollar 1.0228 1.0237 0.7732 0.7734 Sterling pound 2.0612 2.0627 1.5582 1.5584
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Dec 23 S$ Bid Offer 1-month 1.3242 1.3253 2-months 1.3247 1.3259 3-months 1.3252 1.3265 6-months 1.3262 1.3275 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        365 9 Dec 23 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.53 *****.58 *****.62 Mar15 *****.00 *****.00 *****.00 *****.00 ***** *****8 Jun15 *****.00 *****.00 *****.00 *****.00 0 2642 MSCI TAIWAN INDEX FUTURES SPOT 337.77 338.38 335.75 Dec14 337.20 339.20 336.40 336.80 ***** *****3 Jan15 337.50
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        207 9 Most active Dec 23 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left KepCorp MB ePW*****3 11.2 0.5 6091 0.2 820 6 OCBC Bk MB eCW*****3 7.6 0.1 5290 0.2 1060 4 DBS MB eCW*****2 12.2 0.2 4760 0.1 0
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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 22 Index Change Change Change Change Change Change World Preliminary 1280.5 0.2 8.1 0.3 8.1 0.1 3.5 EAFE Preliminary 989.5 0.6 3.5 0.6 -2.4 0.4 -6.6 Europe Preliminary 1384.9 0.5 2.2
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 Dec 23 $S Offer Bid 0vernight 0.04 0.01 1-month 0.3750 0.2500 2-months 0.4375 0.3125 3-months 0.4375 0.3125 Overnight mode: 0.10 US$ 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 SIBOR
        36 9 Dec 23 (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
        67 9 Dec 23 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105.16 105.25 105.18 5-Year N*****0H 1.625 01-Oct-19 99.87 100.00 99.85 10-Year NY*****H 3.000 01-Sep-24 106.38 106.54 106.17 15-Year NY*****E 2.875 01-Jul-29 102.9 103.00 102.90 20-Year NZ*****V 3.375 01-Sep-33 108.71
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        209 9 Dec-22 Price Net change change Last Trade Agricultural Dec-22 CBOT Soybeans (US cents/bu) 1038.25 7.75 0.75% 14/01/2015 CBOT Soybean Oil (US cents/lb) 32.04 0.07 0.22% 14/01/2015 CBOT Wheat (US cents/bu) 625.75 -6.50 -1.03% 13/03/2014 Dec-22 LIFFE Cocoa (£/tonne) 1991.00 3.00 0.15% 16/03/2015 LIFFE Coffee (US$/tonne) 1854.00 -42.00 -2.22%
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      • Article
        Lock icon PALM OIL
        57 9 Dec 23 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 14 2179.0 2209.0 2212.0 2179.0 834 6777 Jan 15 2163.0 2210.0 2215.0 2163.0 3942 ***** Feb 15 2166.0 2209.0 2215.0 2160.0 ***** ***** Mar 15 2171.0 2208.0
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    • Article
      Lock icon S’pore VC firm invests US$3m in India startup
      523 10  -  BlueHill’s funding will boost Triotech’s remittance business, raising the number of post offices providing its Mobile Money Transfer Service in India to 40,000 By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore BLUEHILL Asset, a Singapore-based venture capital (VC) firm, is jumping on and riding
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    • Article
      Lock icon Regulators may lower hurdles for selling wholesale bonds to retail investors
      585 10  -  By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore SINGAPORE regulators could lower some hurdles for selling wholesale bonds to retail investors, following feedback from the public. The latest proposals will relax conditions on deal size, a company’s past issuance and profitability.
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    • Article, Illustration
      Lock icon S’pore corporate bond volume slips 7% in Q4 despite strong year
      592 10  -  By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore SINGAPORE corporate debt issuance is ending a strong year with a touch of weakness in the last quarter. Deal volumes typically ease up in the last three months of a year as the
      Source: Thomson Reuters  -  592 words
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      1470 10 The Business Times NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.sphclass.com.sg/notices (a real estate investment trust constituted on 5 June 2006 under the laws of the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 6th Annual General Meeting of FRASERS CENTREPOINT TRUST (“FCT”) will be
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      731 10 IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF CHIMAERA CAPITAL MARKETS PTE LTD (IN PROVISIONAL LIQUIDATION) (“THE COMPANY”) COMPANY REGISTRATION NO. *****8175Z Notice is hereby given that Mr. Wong Joo Wan of Alternative Advisors Pte Ltd, 78 South Bridge Road #04-01 TKH Building, Singapore
      731 words
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  • REAL ESTATE
    • Article, Illustration
      Lock icon 20% GFA cap on clinics in commercial space
      763 11  -  New guidelines aimed at preventing commercial buildings from becoming de facto medical centres By Kalpana Rashiwala Kalpana@sph.com.sg @KalpanaBT Singapore NEW guidelines have been introduced effective Tuesday to cap the quantum of space for medical clinics in commercial developments to prevent such developments
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    • Article
      Lock icon Centurion, Lian Beng to build 7,900-bed workers dorm
      277 11  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore WORKERS accommodation group Centurion Corporation and construction company Lian Beng Group have joined forces again to undertake a development project. The second collaboration involves the designing, building and operating of a 7,900-bed purpose-built workers accommodation in
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    • Article, Illustration
      Lock icon Wanda chief may top Forbes China Rich List again
      630 11 AFP Beijing WANG Jianlin rose from local bureaucrat to China’s richest man by transforming a debt-laden state-owned housebuilder into the sprawling Wanda Group, and the flotation of one of its subsidiaries on Tuesday may propel him back up the table of
      AFP  -  630 words
    • Article, Illustration
      Lock icon Pace of property sales at auctions quickens in fourth quarter: JLL
      671 11  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore THE pace at which properties are sold under the hammer has quickened in the fourth quarter, according to a new analysis on auction sales. More properties are sold at their first listing in
      Source: JLL Research, As at December 2014  -  671 words
    • Article
      Lock icon UBTS the top bidder for industrial site in Tanjong Penjuru
      382 11  -  By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore UBTS Pte Ltd, a local logistics and warehousing company set up in the 1960s, has emerged as the top bidder for an industrial site in Tanjong Penjuru, less than 1 km from the company’s
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      24 11 Buy new musical instruments or put up your old ones for sale in CLASS 72 To advertise, call the Print Classified Hotline: 1800-289 9988
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      824 11 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF VIVIEN LEE CO. PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) (Company No: *****4631R) FINAL MEETING NOTICE IS HEREBY GIVEN, pursuant to Section 308 of the Companies Act, Cap. 50, that the FINAL MEETING of the members of
      824 words
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon Volatility turns overseas investors off Shanghai-HK bourse link
      762 12 Rollercoaster ride on Shanghai market makes it hard for buyers to know when to jump on or off BLOOMBERG Hong Kong SINCE the day China loosened access to its stocks in November, the Shanghai Composite Index has soared 26 per cent as
      BLOOMBERG; PHOTO: REUTERS  -  762 words
    • Article
      Lock icon China’s shadow banking adapts and grows as rules tighten
      628 12 REUTERS Beijing NEW players in China’s shadow banking sector are growing rapidly despite attempts to clamp down on opaque lending, taking advantage of a regulatory anomaly to prosper but also raising the risks of a build-up of debt in the slowing
      REUTERS  -  628 words
    • Article
      Lock icon Small is big for hedge funds in 2014 as Mumbai fund is top performer
      415 12 REUTERS Boston THE hedge fund industry’s biggest performances in 2014 came from some of its smallest, least-known players, according to data from research firm Simplify. The results add heft to years of studies by industry researchers
      REUTERS  -  415 words
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      Lock icon Investment banking fees up on M&As, share offerings
      658 12 REUTERS London FEES earned for investment banking services rose 7 per cent in 2014, representing a seven-year high, as bankers handled the greatest value of mergers and acquisitions (M&A) since 2007. Five years after the end of the financial crisis, investment banking
      REUTERS; PHOTO: BLOOMBERG  -  658 words
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      20 12 Analysts upbeat on developers focused on overseas or non-residential property property #430,21)/." To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • ENERGY & COMMODITIES
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      1016 13 NOTICE OF INTENTION TO DECLARE DIVIDEND Name of Company PNE Plas Pte Ltd (In Creditors’ Voluntary Liquidation) (Co. Reg. No. *****5168N) Address of Registered Office 21 Merchant Road #05-01, Singapore *****7 Last Day of Receiving Proofs 7 January 2015 Names of Liquidators Chia Soo Hien Leow Quek Shiong Address of
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      849 13 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF YOUNG VISION ELECTRONICS PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) Co. Reg. No. *****0233N Extract of the minutes at the Extraordinary General Meeting of members of the Company duly convened and held at 20 Cecil Street #12-02
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  • TECHNOLOGY
    • Article
      Lock icon Overlooked server behind data breach at JPMorgan Chase
      994 14 Security team had apparently neglected to upgrade a network server with the dual password scheme, leaving the bank vulnerable to intrusion NYT New York THE computer breach at JPMorgan Chase this summer the largest intrusion of a US bank to date might
      NYT  -  994 words
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      Lock icon Lack of patents may hamper Xiaomi’s global ambitions
      800 14 BLOOMBERG Beijing XIAOMI became the biggest smartphone seller in China without an extensive or expensive collection of patents. That low-cost approach is now backfiring as accusations of technology infringement stall its global push. Ericsson sued Xiaomi in India, saying the smartphone maker
      BLOOMBERG; PHOTO: BLOOMBERG  -  800 words
    • Article
      Lock icon Facebook accused of yielding to Moscow pressure for blocking page
      628 14 NYT MOSCOW FACEBOOK’S blocking of a page used to rally opponents of President Vladimir Putin has engulfed the world’s largest social networking site in political controversy and raised accusations that it censors content on behalf of the Russian authorities. Facebook
      NYT  -  628 words
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      Lock icon Alibaba says it removed 90 million fake listings before IPO
      485 14 BLOOMBERG Hong Kong ALIBABA Group Holding, which faced scrutiny for selling counterfeit goods on its websites, said it removed 90 million listings that may have breached intellectual-property rights. The fake product listings were taken down across Alibaba’s e-com-merce platforms up
      BLOOMBERG; PHOTO: BLOOMBERG  -  485 words
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      39 14 Catch ZB Keywords, Cook an egg? a daily 3-minute video news series, f What can you do in 3 minutes? 03£0 0 Become enlightened! I.IANIIE ZAODAO Scan the QR code now to view the latest videos on zaobao.sg zaobao.sg
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  • CONSUMER
    • Article, Illustration
      Lock icon Front opens in US biotech price war
      1225 15 Express Scripts, largest manager of prescription drug plans for US employers, takes increasingly aggressive stance in price negotiations with pharma firms BLOOMBERG REUTERS New York THE biotechnology industry’s two-year run of riches is at risk after a decision by the biggest US drug
      BLOOMBERG; REUTERS; PHOTO: BLOOMBERG  -  1,225 words
    • Article
      Lock icon UK regulator to look into Tesco accounts
      278 15 BLOOMBERG London TESCO plc’s accounts for the past three financial years will be investigated by the Financial Reporting Council, the British audit authority said, adding to one of the toughest years in the UK supermarket leader’s history. The probe will focus on the
      BLOOMBERG  -  278 words
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      155 15 Download BTLuxe Christmas and win two business class tickets to Tokyo on ANA Luxe Download the BTLuxe app on iPad and answer the following questions: 1) What is Rene Redzepi doing in the first photo of the story ‘Tokyo or Bust’ in the BTLuxe iPad App? 2) With ANA, Japan’s
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  • TRANSPORT
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      Lock icon Write all about it!
      592 19  -  With the shipping industry’s centre of gravity continuing to move to Asia, more regional shipping stories should be told by nosey journalists TT STRAIT TALK BY DAVID HUGHES ONE of the fixtures in the London shipping scene as we head towards the end of the year
      592 words
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      Lock icon “Tropical Rotterdam” takes shape as Batista faces trial
      880 19 6.3b reais Acu port in Brazil’s Rio de Janeiro state finally becoming active after delays and cost overruns BLOOMBERG Rio de Janeiro THE last of the 66-metre-long concrete blocks sit ready to be towed out to sea as work on Latin America’s
      BLOOMBERG; PHOTO: AFP  -  880 words
    • Article
      Lock icon Latin America’s biggest carrier banks on new identity to save sales
      844 19 Latam hopes to reverse its declining fortunes with new name, in move seen as highly risky BLOOMBERG Sao Paulo WHAT’S in a name? Latam Airlines Group SA is gambling that a new one will help reverse its fortunes. Latin
      BLOOMBERG  -  844 words
    • Article
      Lock icon Nicaragua announces start of China-backed canal to rival Panama
      386 19 REUTERS Managua NICARAGUA on Monday announced the start of work on a US$50 billion shipping canal, an infrastructure project backed by China that aims to rival Panama’s waterway and revitalise the economy of the second-poor-est country in the Americas. The groundbreaking
      REUTERS  -  386 words
    • Article
      Lock icon Maersk CEO: low oil price may lead to closures
      295 19 REUTERS Copenhagen AP Moller-Maersk’s Maersk Oil unit would have to close some sites and cut operating costs if the oil price remains at its current level, the group’s CEO said in an interview in Danish daily Politiken on Tuesday. Nils Smedegaard
      REUTERS  -  295 words
    • Article
      Lock icon Time running out on mileage runs for fliers
      745 20 Airlines tweaking frequent-flier programmes to be based on minimum fare spending rather than flight distances NYT New York IT’S the end of the year, and some posts on air-travel forums sound desperate. “Need 1,500 miles this weekend,” says one notice on FlyerTalk.com.
      NYT  -  745 words
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      Lock icon Tiny airport jostling for a sliver of Atlanta’s air traffic
      977 20 Paulding airport’s backers maintain that commercial flights could begin late next year NYT Dallas AIRPORTS do not get much smaller than Silver Comet Field at Paulding Northwest Atlanta Airport, where an undeveloped two-lane road weaves to a church-quiet setting framed
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      Lock icon Google self-driving car prototype ready to hit the road
      409 20 AFP San Francisco GOOGLE has announced that the first completed prototype of its self-driv-ing car is ready to be road tested. “We’re going to be spending the holidays zipping around our test track, and we hope to see you on the
      AFP; PHOTO: AFP  -  409 words
    • Article
      Lock icon Growing list of safest cars belies fears in record US recalls
      413 20 BLOOMBERG Southfield, Michigan THE insurance industry’s list of cars and trucks that do the best job of keeping owners alive in a crash jumped 82 per cent this year against a backdrop of US recalls of older models that
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  • Article
    Lock icon THE BUSINESS TIMES Shipping times
    1920 21 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 MALAYSIA STAR 41 50 8/1 9/1 13/1 16/1 SEIYO SPRING 2 70 9/1
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      106 21 Experienced ship maintenance services wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES SHIPPING TIMES Make A Splash In The Maritime World Via s^Smaritime.coM Ahoy there! If you are in a business pertaining to any sector of
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  • OPINION
    • Article
      Lock icon Macau needs more than just casinos to drive its economy
      560 22 EDITORIAL IT looks like Macau’s glory days of rampant VIP and premium mass gaming are over at least for now. The former Portuguese enclave, the world’s largest gambling hub and the only place in China where casino gaming is legal,
      560 words
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      Lock icon China’s corrupt image will linger with press curbs
      803 22  -  In China, the governmentdoesn’t enter the picture until the party is finished with its investigation. TT THE BOTTOM LINE By Frank Ching T The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: Twitter: @FrankChing1 Hong Kong MORE than
      803 words
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      Lock icon Arms and the Man, led by technology
      1122 22  -  It should be recognised that technological and geopolitical changes have removed a democratic check on government, and it is time to take stock. BY JOHN FEREJOHN and FRANCES ROSENBLUTH stock.BY JOHN KEREJOHN, FRANCES ROSENBLUTH T John Ferejohn is the Samuel Tilden Professor of
      PHOTO: AFP  -  1,122 words
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      Lock icon Republicans versus the IMF – the battle continues
      1134 23  - Republicans versus the IMF the battle continues COMMENTARY By Leon Hadar IT DID not come as a big surprise to anyone that in the US government Bill recently approved by the Republican-controlled House of Representatives there was no funding for the International Monetary Fund (IMF), just as Representative Hal Rogers
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    • Article
      Lock icon Can MTP work for Singapore’s stock market?
      188 23  - Can MTP work for Singapore’s stock market TT LETTER TO THE EDITOR Regina Niu HAVING gained consensus among its review committee members after the publication of a consultation paper, the Singapore Exchange (SGX) and the Monetary Authority of Singapore (MAS) have decided to go ahead with the decision to implement
      188 words
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      Lock icon Sony blows chance to be cool again
      952 23  -  By Joseph Baladi T The writer is principal of BrandAsian and author of The Brutal Truth About Asian Branding (Wiley). He can be reached on jbaladi@brandasian.com THE Sony incident has taken on global proportions, creating discussions and debates on everything ranging from extortion,
      PHOTO: BLOOMBERG  -  952 words
    • Article
      Lock icon Priceless: the inefficient, but merry economics of Christmas
      918 23  -  Many of life’s best things aren’t necessarily “free”, but they can’t be bought and sold: they arise from our relationships By Kevin Albertson T The writer is reader in economics at Manchester Metropolitan University THE CONVERSATION FINGERS crossed, we are soon to
      THE CONVERSATION  -  918 words
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  • LIFE & CULTURE
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      Lock icon Documenting change in China through art
      702 24  -  An exhibition by Chinese artist Yang Fudong features four key works one of which is a full-length feature film plus photographs taken for a magazine commission.BY CHEAH UI-HOON BY commission.BY CHEAH UI-HOON CHEAH UI-HOON T Yang Fudong: Incidental Scripts is on until March 1,2015,
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    • Article
      Lock icon Moody’s downgrades Met Opera’s credit rating
      449 24 NYT New York THE Metropolitan Opera’s decision to once again use its monumental Chagall murals as collateral for loans was one of the factors Moody’s Investors Service cited when it downgraded the company’s credit rating, noting the company’s “weakened financial profile”. The ratings downgrade
      NYT  -  449 words
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      Lock icon Joe Cocker of the raspy voice dies, 70
      844 24 WP Washington JOE Cocker, a British-born rock and soul singer who delivered one of the most electrifying performances at the 1969 Woodstock festival with his raspy version of the Beatles’ With a Little Help From My Friends, and who later had a
      WP  -  844 words
  • Page 24 Miscellaneous
    • Miscellaneous
      Lock icon Page 24 Miscellaneous Column 1
      336 24 CRYPTIC CROSSWORD Across 1 Peacekeepers, having tried, will get ignored (7) 5 Player runs out of money and is last to bet (7) 9 Copied furniture perhaps concerning expert (5) 10 Spoil end of Poe’s novel (5-4) 11 Kosher meals over first (5-5) 12 Disguise a robber might wear but
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