The Business Times, 7 January 2015

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Microfilm: NL33339
Total Pages: 24
1 24 The Business Times
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  • Title Section
    Lock icon Masthead
    28 1 THE BUSINESS TIMES S$1.00 Sp!l A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg O ©BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 I Wednesday, October 8, 2014 January 7 5
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  • DAILY DIGEST
    • Article
      Lock icon Shares of AirAsia
      48 1 Bhd continued to come under selling pressure on Tuesday after it was reported that some RM1.3 billion (S$486 million) in receivables owed to the budget carrier by its Indonesian unit could be in doubt because of the latter’s alleged violation of licensing conditions.TOP STORIES 2
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    • Article
      Lock icon Oil extended losses
      30 1 below US$50 a barrel, amid speculation that US inventories will expand, deepening a global supply glut that is driven prices to a five-year low. top stories 4
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    • Article
      Lock icon A second-half rise in SGX derivatives
      34 1 volumes in 2014, due to a surge of interest in overseas equity markets, has cushioned the impact of a lacklustre securities scene on the homefront. COMPANIES MARKETS 5
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    • Article
      Lock icon In mid-December, a posting
      28 1 appeared on the Internet site Pastebin offering six million account records, including passwords and login data for clients of Morgan Stanley. BANKING FINANCE 10
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    • Article, Illustration
      Lock icon China is accelerating 300 Infrastructure
      33 1 projects valued at seven trillion yuan (S$1.5 trillion) this year as policymakers seek to shore up growth that’s in danger of slipping below 7 per cent. GOVERNMENT ECONOMY/19
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  • Article
    Lock icon Analysts say ‘Grexit’ unlikely; oil price slump overdone
    1166 1  -  But they believe weak global demand will keep crude prices low By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore ANALYSTS, in addressing the twin fears roiling financial markets, are saying that a Greek exit from the eurozone is unlikely and that the oil price
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  • Article
    Lock icon 10 top-performing large hedge funds
    151 1 2014* RETURN FUND, MANAGER(S) MANAGEMENT FIRM, LOCATION ASSETS, IN BILLIONS (US$) Pershing Square International, Bill Ackman Pershing Square Capital Mgmt, US 6.1 32.8 Quantedge Global, Team managed Quantedge Capital, Singapore 1.0 32.3 STS Partners, Michael Craig-Scheckman, Scott Burg Deer Park Road, US 1.3 23.9 Hildene
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  • Article
    Lock icon S’pore hedge funds join global leaders
    391 1  -  By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore FUNDS run by Singapore-based Quantedge Capital and Dymon Asia Capital were among the 10 best performing large hedge funds in the world, according to the latest rankings by Bloomberg. In a list dominated by US and European hedge
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  • Article
    Lock icon MARKETS
    26 1 Tuesday Change STI 3,281.95 (-46.33) KL COMP 1,716.58 (-20.04) NIKKEI 225 16,883.19 (-525.52) HANG SENG 23,485.41 (-235.91) SHENZHEN B 1,061.98 (+11.51) DOW(noon EDT) 17,466.45 (-35.20)
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  • Page 1 Advertisements
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      12 1 *****4 RARE EARTH China quietly lifts its export quotas TOP STORIES 3
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      21 1 JUNK BONDS Debt in Singapore getting riskier EXEC MONEY 24 RETAIL SPACE Rents to remain flat this year REAL ESTATE /10
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      92 1 THE SME MAGAZINE With your copy of BT today V o UNVEILING SOON SCULPTURA ARDMORE 8 ARDMORE PARK global w developments T: +65 6100 2323 WWW.SCGLOBAL.COM.SG Developer: Covenson Pte Lid Company Registration No.; *****7108Z Developer's License No.; C0858 Expected Dole of Delivery of Vacant Possession; (31st Dec 2015) Expected Date
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  • TOP STORIES
    • Article, Illustration
      Lock icon AirAsia shares take a beating as bad news piles up
      558 2  -  They fall 5% on Tuesday to RM2.49, taking the total loss in value since the crash to 15% AIRASIA CRASH By Pauline Ng btworld@sph.com.sg Kuala Lumpur SHARES of AirAsia Bhd continued to come under selling pressure on Tuesday after it
      PHOTO: REUTERS  -  558 words
    • Article
      Lock icon AirAsia’s minority structure clouds impact of air crash
      610 2  -  iES» REUTERS BREAKINGVIEWS By Una Galani AIRASIA is sharing the pain of its minority investments. The Malaysian budget carrier owns just 49 per cent of the Indonesian unit that was struck by tragedy when one of its planes crashed into the Java
      610 words
    • Article, Illustration
      Lock icon Expect higher rates by June: economist
      637 2  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THE market has underestimated the pace of higher interest rates in the US, with the first hit expected around June rather than in the second half of the year, as some expect, says Bank of Singapore chief economist
      FILE PHOTO  -  637 words
    • Article, Illustration
      Lock icon China’s services PMI grows; further stimulus expected
      588 3 REUTERS Beijing CHINA’S services sector grew at its fastest pace in three months in December as new orders remained strong, a private survey showed, an encouraging sign of strength even as manufacturing activity slows and the property market softens. The robustness in the
      REUTERS; PHOTO: REUTERS  -  588 words
    • Article
      Lock icon China quietly lifts its rare earth export quotas
      829 3  -  The move has implications for industrial nations held to ransom by Beijing’s quotas By Anthony Rowley btworld@sph.com.sg Tokyo A LOW-PROFILE announcement by China on New Year’s eve that it had abandoned export quotas on “rare earths” has had powerful significance for Japan
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    • Article
      Lock icon JPMorgan settles forex manipulation lawsuit in US
      348 4 REUTERS New York JPMORGAN Chase Co has become the first bank to settle a US antitrust lawsuit in which investors accused 12 major banks of rigging prices in the US$5 trillion-a-day foreign exchange market. The largest US bank will pay about US$100 million,
      REUTERS  -  348 words
    • Article, Illustration
      Lock icon Oil extends drop below US$50; US stockpiles may swell glut
      875 4 Saudi Arabia, the biggest Opec producer, announces it will keep a “solid will” and maintain the nation’s stability even with falling crude prices OIL ROUT BLOOMBERG REUTERS London OIL extended losses below US$50 a barrel, amid speculation that US inventories
      BLOOMBERG; REUTERS; PHOTO: BLOOMBERG  -  875 words
    • Article
      Lock icon Petrodollar drought is new risk for markets
      357 4  -  t9s REUTERS BREAKINGVIEWS By Swaha Pattanaik LOW oil prices hurt energy producers; they may hurt financial markets too. For years, energy windfalls were large enough to give major oil-producing nations surplus cash. Exporters accumulated foreign exchange reserves and put money into funds which
      357 words
    • Article
      Lock icon Banks must change corporate culture to win back confidence
      629 4  -  REUTERS BREAKINGVIEWS By William Rhodes THE scale of bank regulatory reforms in recent years has been unprecedented, but public trust remains low. While lenders have taken actions to boost capital, reduce leverage and strengthen liquidity, many banks have not shown the
      629 words
  • Page 2 Advertisements
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      Lock icon Page 2 Advertisements Column 1
      57 2 FACT. What if my ERR Software is hacked? With FACT, you decide the security Levels. Call us today! ERP+CRM Software A truly integrated solution Serving Singapore companies proudly for 22 years FACT Software International Pte Ltd (*****6166Z) 10 Hoe Chiang Road #16-07 Keppel Towers Singapore *****5 T+65 *****832 www.factsoftware.sg sales@factsoftware.sg
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      Lock icon Page 2 Advertisements Column 2
      24 2 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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      274 3 X x Exchange Traded Funds A wide range of investments in global markets. And the award-winning research to help you decide. An Exchange Traded Fund (ETF) spreads risk by investing in a diversified portfolio of securities. At the same time, it can be traded easily and guickly like a single
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      808 4 THE BUSINESS TIMES NOTICES IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF SOKEN CHEMICAL SINGAPORE PTE. LTD. (Company Registration No. *****6850Z) (IN MEMBER’S VOLUNTARY LIQUIDATION) NOTICE OF RESOLUTIONS [(Pursuant to Section 290(2)(b)] At an Extraordinary General Meeting of the member of Soken Chemical Singapore
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Derivatives temper securities’ slide
      518 5  -  interest in China and Japan markets helps boost futures volumes for 2014 SINGAPORE EXCHANGE By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore A SURGE of interest in overseas equity markets spurred a second-half rise in derivatives volumes for the Singapore Exchange (SGX) in 2014, cushioning the impact of
      Source: Singapore Exchange  -  518 words
    • Article
      Lock icon Share buybacks in December hit 2014 high of S$262.2m
      630 5  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore SHARE buybacks reached a total of S$262.2 million on the Singapore Exchange (SGX) in December. This, according to separate data by Asia Insider, made it the most active month for share repurchases in 2014. Companies
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    • Article
      Lock icon Free money in bond markets shows global economy still struggling: Citi
      377 5 BLOOMBERG London THE world’s richest nations are borrowing for free. Taken together, the average 10year bond yield of the US, Japan and Germany has dropped below one per cent for the first time ever, according to Steven Englander, global
      BLOOMBERG  -  377 words
    • Article
      Lock icon Oil-linked stocks slide as crude hits fresh lows
      680 6  -  Exploration and production companies will bear the brunt of losses, says Moody’s By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore OIL-LINKED counters here continue to face the aftermath of plunging crude prices. As of Tuesday evening, crude prices hit fresh lows. Brent, the
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    • Article, Illustration
      Lock icon Keppel O&M unit bags two deals worth S$65m
      225 6  -  By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT Singapore KEPPEL Offshore Marine’s (Keppel O&M) wholly owned unit, specialised shipbuilder Keppel Singmarine, has secured two contracts worth over S$65 million. Under the first contract, Keppel Singmarine will build a multi-task anchor handling tug (AHT) vessel,
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    • Article
      Lock icon GLP in leasing deals with 6 logistics players
      228 6 Singapore GLOBAL Logistics Properties Limited (GLP) has signed new leasing agreements totalling 84,000 square metres with six leading third-party logistics providers in China. One of the leases is with a new customer that is a “leading China state-owned logistics company”, said GLP
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    • Article, Illustration
      Lock icon SingTel to offer scholarships at two polytechnics
      343 6  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore LOCAL telco SingTel on Tuesday announced that it was partnering two polytechnics to set up a diploma scholarship programme worth more than S$2 million a year in total. Called the SingTel Cadet Scholarship Programme, this first corporate
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    • Article
      Lock icon PICTET
      270 6 Pictet-Absl Rtn Fxd Inc-HP EUR 31/12/2014 EUR 103,58 Pictet-Absl Rtn Glo Div-P EUR 31/12/2014 EUR 118,04 Pictet-Asian Equities Ex Japan-P USD 31/12/2014 USD 200,74 Pictet-Asian Local Currency Debt-P USD 31/12/2014 USD 147,22 Pictet-Biotech-P USD 31/12/2014 USD 681,57 Pictet-Clean Energy-P USD 31/12/2014 USD 83,31 Pictet-Digital Communication-P USD 31/12/2014 USD 215,21
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    • Article
      Lock icon Analysts favour developers, warn of Reit downside
      789 7  -  They highlight low valuations of developer shares and risks facing real estate investment trusts By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore NOT all fates are equal in Singapore’s bleak real estate market. A gamut of risks confronting real estate investment trusts (Reits), coupled with
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    • IN BRIEF
      • Article
        Lock icon QT Vascular clinical trial exceeds patient enrolment goal
        66 7 qt vascular said that the clinical trial for its Chocolate® Touch drug-coated balloon in Europe and New Zealand has “substantially exceeded” its patient enrolment goal for Q4 2014. The company expects to obtain CE marking regulatory approval for the product in the
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      • Article
        Lock icon BBB+ rating for AG Trust’s golf course holding company
        90 7 ACCORDIA Golf Trust Management, the trusteemanager of Accordia Golf Trust (AG Trust), announced on Tuesday that AG Trust's golf course holding company in Japan, Accordia Golf Asset Godo Kaisha, has obtained a BBB+ rating from Japan Credit Rating Agency (JCR) on
        90 words
      • Article
        Lock icon SSCL secures US$16.5m term loan facility
        69 7 SINGAPORE Shipping Corporation Limited said on Tuesday it has entered into a US$16.5 million seven-year term loan financing facility with a leading Japanese financial institution, which it did not name. The term loan will be used to finance the acquisition of a Pure Car
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      • Article
        Lock icon Sakae diversifies into corporate advisory services
        57 7 SAKAE Holdings, which owns restaurant chain Sakae Sushi, has diversified into corporate advisory services, and its first client is Q&M Dental Group. In a statement on Tuesday, the group said its wholly owned unit, Sakae Corporate Advisory, has been appointed to serve as Q&M
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    • Article, Illustration
      Lock icon STI / Catalist
      63 8 STI Catalist Straits Times Index Jan 6,2015 3,281.95 -46.33 (-1.39%) Current streak 2 days Day high 3,295.51 Day low 3,272.40 52-week high 3,374.06 (July 31, 2014) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist index Jan 6,2015 746.79 -4.52 (-0.60%) Current streak 1 day Day high 748.46 Day low
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    • Article, Illustration
      Lock icon Oil fall, “Grexit’’ fears send prices tumbling
      625 8  -  ST Index sheds a further 46 points amid improved volume of S$1.24 billion; banking and oil-related stocks slide STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT A STEEP plunge on Wall Street on Monday that was attributed to sliding oil prices and political uncertainty in
      Source: Bloomberg  -  625 words
    • Article
      Lock icon STI STOCKS
      305 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 237 -4 242/236 250 206 6 5992.2 CapitaLand 324 -2 326/322 348 268 16.2 2.5 *****.5 CapitaMall Trust 202 -3 207/202 209 180 5.1 7005.9 CityDev 1008 -1 1016/991 1118 860 13.7
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    • Article
      Lock icon MOST ACTIVE
      37 8 VOLUME Artivision Tech 75,951,000 Pacific Andes R 68,713,000 IHC 60,565,000 Noble 46,392,000 Addvalue Tech 42,578,000 Market volume 1,582,309,000 VALUE UOB 114,688,635 DBS Grp 102,096,850 Keppel Corp 87,924,560 SingTel 76,884,461 OCBC Bank 64,340,080 Market value 1,260,076,000
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    • Article
      Lock icon SGX ETFs Most Active
      113 8 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap UETF SSE50China 230 -1 281 233/227 233/140 229/230 71.9 STI ETF 333 -4 194 335/332 343/298 332/333 IS MS India US$ US718 -23 78 732/718 790/541 718/722 89.8 Nikko AM STI ETF 334 xd -4 60
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Jan 6 VALUE CLOSE BT OB/OS 187.00 -188.00 BT CADI -*****.00 -146.00 BT 10-day MA -*****.00 +19.00 FTSE ST Mid Cap 748.18 -3.48 FTSE ST Small Cap 498.02 -1.51 FTSE ST All Share 790.14 -9.39 FTSE ST China Top 190.93 -0.77 FTSE ST China 223.38 -1.10 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 Jan 6,2015 790.14 -9.39 (-1.17%) Current streak 2 days Day high 792.43 Day low 787.74 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 Jan 5,2015 1,726.41 -36.01 (-2.04%) Current streak 2 days Day high 1,757.30 Day low 1,724.00 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 2 9 4 0 0 0 2 9 4 Manufacturing 29 61 31 4 6 11 33 67 42 Commerce 8 25 18 2 4 6 10 29 24 Tpt/Stor/Comms 6 23 11
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 21,865 21,865 120,745 120,745 Manufacturing 329,638 32,569 362,207 119,700 3,061 122,760 Commerce 90,854 24,391 115,245 99,743 1,209 100,951 Tpt/Stor/Comms 95,282 1,178 96,460 171,851 443 172,293 Finance 22,784 58 22,842 300,360 14 300,373 Construction 14,417 6,320
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    • Article
      Lock icon GAINERS
      77 8 BY CENTS CLOSE UP 52w high/low GLD US$ ***** 213.2 1.4 *****/***** DBXT S&P Short US$ 2262 36.0 1.2 2752/2197 DBXT Vietnam US$ 2690 22.7 0.6 3100/2403 CMProp HKD 1600 17.2 6.7 1600/802 IS MS India S$D 977 17.0 1.8 1030/739 BY PERCENTAGE CLOSE UP 52w high/low Koyo Intl
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    • Article
      Lock icon LOSERS
      80 8 BY CENTS CLOSE DOWN 52w high/low SPDR DJIA US$ ***** -389.1 -1.6 *****/***** SPDR S&P500 US$ ***** -351.8 -1.3 *****/***** Lyxor Mal US$ 892 -190.5 -13.8 1101/892 DBXT MSEurope US$ 5384 -167.9 -2.3 6492/5366 JMH USD 5983 -109.3 -1.4 6460/4934 BY PERCENTAGE CLOSE DOWN 52w high/low Wilmar MBeCW*****2 1
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    • Article
      Lock icon UNUSUAL ACTIVITY
      84 8 VOL CLOSE($) CHANGE Great Group 1,200.0 0.030 -0.003 -9.09 Ocean Sky Intl 7,111.0 0.151 +0.016 +11.85 CMProp HKD 8.5 16.000 +1.000 +6.67 MFG Integration 1,149.0 0.100 +0.010 +11.11 Dapai Intl^ 920.0 0.013 +0.003 +30.00 Star Pharm 4,696.0 0.084 +0.008 +10.53 Artivision Tech 75,951.0 0.089 +0.014 +18.67 Intraco 504.0
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    • BROKERS’ TAKE
      • Article
        Lock icon Libra Group
        144 8 Libra Group Buy Jan 6 close: S$0.199 Target price: S$0.33 OCBC Investment Research, Jan 6 Libra announced last month that it had won a collective S$11.3 million of M&E (mechanical and electrical) contracts. With year-to-date order book estimated at S$105.6 million, we believe the group is on track
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      • Article
        Lock icon Yangzijiang Shipbuilding (Holdings)
        102 8 Buy S$1.24 Jan 6 close: S$1.24 Target price: S$1.68 DMG Partners Research, Jan 6 Yangzijiang announced that it had entered into nine new shipbuilding contracts in Q4 2014, bringing total effective order wins for 2014 to US$1.8 billion. Maintain “buy” with a S$1.68 target price (39 per
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      • Article
        Lock icon KrisEnergy
        167 8  -  Compiled by Kenneth Lim Outperform S$0.64 Jan 6 close: S$0.64 Target price: S$0.80 Macquarie Research, Jan 5 KrisEnergy announced last week that it has secured approval from SKKMigas for the plan of development (POD) for the Lengo Gas Development in the Bulu PSC (production sharing contract), offshore East Java
        167 words
    • Article
      Lock icon CALENDAR
      16 8 DATA I 4 pm Singapore COE bidding results I 8 pm US MBA mortgage applications
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    • Article
      Lock icon Yen up as oil rout sparks risk aversion; euro falls
      392 9 TT CURRENCIES REUTERS London THE safe-haven yen rose on Tuesday as investor risk aversion mounted following sharp drops in crude oil and stocks that have rekindled concerns about the strength of the global economy. Growing fears of deflation in the
      REUTERS  -  392 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Jan 6 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.956 5.049 0.681 6.301 51.467 102.861 0.969 8.943 2.890 1.052 81.927 36.520 1.083 9.506 0.818 25.984 26.744 0.534 0.813 Canada 1.046 5.279
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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 Jan 6 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0827 1.0836 0.8125 0.8128 Canadian dollar 1.1320 1.1332 0.8500 0.8495 Euro 1.5905 1.5917 1.1936 1.1939 NZ dollar 1.0294 1.0306 0.7725 0.7730 Sterling pound 2.0290 2.0306 1.5227 1.5231
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Jan 6 S$ Bid Offer 1-month 1.3330 1.3339 2-months 1.3335 1.3345 3-months 1.3342 1.3351 6-months 1.3351 1.3360 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES Most active
        202 9 Jan 6 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left OCBC Bk MB eCW*****3 5.1 -1.4 5800 0.2 1060 3 Rowsley Ltd W*****3 4.1 unch 4100 1 18 21 Singapore ExchangeMBeCW*****3 11.6 -0.6 4040 0.2 790 7
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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 Jan 5 Index Change Change Change Change Change Change World Preliminary 1256.9 -1.5 -1.5 -1.2 -1.2 -1.7 -2.0 EAFE Preliminary 970.7 -1.6 -1.6 -1.6 -2.0 -2.0 -2.7 Europe Preliminary 1349.5 -2.2 -2.3
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        365 9 Jan 6 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.58 *****.36 *****.73 Mar15 *****.00 *****.00 *****.00 *****.00 ***** *****5 Jun15 *****.00 *****.00 *****.00 *****.00 0 3191 MSCI TAIWAN INDEX FUTURES SPOT 337.10 337.34 331.61 Jan15 341.10 341.50 330.50 331.70 ***** *****6 Feb15 339.10
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 Jan 6 $S Offer Bid 0vernight 0.03 0.01 1-month 0.625 0.50 2-months 0.625 0.50 3-months 0.6872 0.5625 Overnight mode: 0.25 US$ Offer Bid 7 days 0.17 0.07 1 month 0.23 0.13 2 months 0.28 0.18 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 Jan 6 (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
        69 9 Jan 6 Jan 6 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105.05 5-Year N*****0H 1.625 01-Oct-19 100.13 100.30 100.10 10-Year NY*****H 3.000 01-Sep-24 106.47 106.65 106.50 15-Year NY*****E 2.875 01-Jul-29 103.82 104.10 103.80 20-Year NZ*****V 3.375 01-Sep-33 109.57
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        245 9 Jan-5 Price Net change change Last Trade Agricultural Jan-5 CBOT Soybeans (US cents/bu) 1039.75 37.25 3.72% 14/01/2015 CBOT Soybean Oil (US cents/lb) 32.70 0.75 2.35% 14/01/2015 CBOT Wheat (US cents/bu) 589.00 7.75 1.33% 13/03/2014 Jan-5 LIFFE Cocoa (£/tonne) 2012.00 25.00 1.26% 16/03/2015 LIFFE Coffee (US$/tonne) 1889.00 51.00 2.77%
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      194 5 DINING EXPERIENCE AT EQUINOX RESTAURANT Renowned for its multi-sensory culinary experience and breathtaking views, Equinox Restaurant offers a decadent menu prepared by Chef de Cuisine Paul Hallett, highlighting premium produce from fine meats to the freshest sustainable seafood, and an assortment of delightful desserts. Available daily, 6.30pm to 10.30pm swissotel
      194 words
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      31 6 4Want access to BBQ pits? If you're looking for your dream condo complete with facilities, turn to the Print Classified Properties section. To advertise, call the Print Classified Hotline: 1800-289 9988.
      31 words
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      551 7 Organizer: m fyn* f id 4 SINGAPORE-CHINA BUSINESS ASSOCIATION Business Families 9 Blessed and Bless Others In general, family business is a commercial organization in which the proprietary rights or the corporate right of control is owned by a family or a few family clans. The owner of the commercial
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      408 7 The Business Times Ik 1 1 Toll free 1800-289-8822 I fl I Email noticesiasph.com.sg j j L J www.sphclass.com.sg/notices MGPA HOLDINGS (SINGAPORE) PTE. LTD. COMPANY REGISTRATION NO. *****4796N (INCORPORATED IN THE REPUBLIC OF SINGAPORE) NOTICE OF RESOLUTIONS NOTICE IS HEREBY GIVEN THAT AN EXTRAORDINARY GENERAL MEETING OF THE COMPANY WAS
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      1127 7 Get your 5th ‘C’ here Choose from various club memberships or sell yours in CLASS 66 To advertise, call the Print Classified Hotline: 1800-289 9988 CASA HOLDINGS LIMITED (Incorporated in Republic of Singapore) (Company registration No. *****6212Z) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Retail rents to remain flat this year; premium for prime Orchard space shrinks
      604 10  -  Prime retail rents throughout Singapore have generally stabilised, as demand is offset by resistance to rent hikes By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THE standstill in retail rents will likely continue into 2015, as positive interest from
      Source: Colliers  -  604 words
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      Lock icon Improved housing mood seen continuing in China this year
      589 10 REUTERS Hong Kong CHINA’S stronger-than-seasonal property sales in December point to a recovery in market sentiment thanks to looser housing and monetary policy, with the upbeat momentum expected to swing into 2015, analysts said. But with oversupply still looming large, any
      REUTERS; PHOTO: REUTERS  -  589 words
    • Article
      Lock icon Kaisa bonds sink to new lows on fresh default fears
      491 10 BLOOMBERG Hong Kong BONDS of Kaisa Group Holdings Ltd fell to record lows amid speculation the Chinese developer will miss more debt obligations this week and as Standard Poor’s cut its credit rating to selective default. The company’s US$800 million
      BLOOMBERG  -  491 words
    • Article
      Lock icon Developerdenies reports of shrinking size of Johor reclamation project
      391 10 STRAITS TIMES ONLINE Kuala Lumpur THE developer of Malaysia’s controversial Forest City in the Johor Straits has denied reports that the 1,600 hectare reclamation project has been shrunk to a quarter of its size following directions by the Department of Environment
      STRAITS TIMES ONLINE  -  391 words
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      Lock icon Manhattan apartment prices at 6-year high
      784 10 BLOOMBERG New York MANHATTAN apartment prices have jumped to the highest point since their 2008 peak as buyers competed for a limited supply of homes and deals were completed in new luxury developments. The median price of all condominiums and co-ops that changed hands
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  • BANKING & FINANCE
    • Article
      Lock icon 1MDB fails to repay RM2b loan
      557 11 BLOOMBERG Kuala Lumpur STATE investment company 1 Malaysia Development Bhd has failed to repay a RM2 billion (S$748.7 million) loan due on Dec 31, The Edge Financial Daily reported, citing sources whom it did not identify. The company has been given until Jan 30
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    • Article, Illustration
      Lock icon Nasdaq tries human touch to win IPOs
      1151 11 BLOOMBERG New York ONE morning in November, Jay Heller stood at his desk at the Nasdaq Stock Market monitoring thousands of orders to trade Virgin America Inc. A crowd including the airline’s Chief Executive Officer, David Cush, looked on. Mr Heller was overseeing
      BLOOMBERG; PHOTO: REUTERS  -  1,151 words
    • Article
      Lock icon Morgan Stanley probes leak, sale of client data
      671 11 Breach traced to financial adviser working out of its New York offices NYT New York IN mid-December, a posting appeared on the Internet site Pastebin offering six million account records, including passwords and login data for clients of Morgan Stanley. Two weeks
      NYT  -  671 words
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      Lock icon Dollar, euro swings set to reshape terms of trade globally
      798 11 NYT New York IT JUST might be the time to book that vacation in Paris you’ve been thinking about. That is one practical conclusion to draw from a remarkable set of shifts in global currencies that started in the second
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Fall in US rig count points to tough 2015
      746 12 Oil explorers’ promise to curb spending, continued decline in oil price have led to more rigs being idled BLOOMBERG San Francisco US OIL drillers laid down the most rigs in the fourth quarter since 2009. And things are about to get
      BLOOMBERG; PHOTO: BLOOMBERG  -  746 words
    • Article
      Lock icon Pipeline partnerships ride rise in oil output
      673 12 BLOOMBERG New York WHILE oil prices plunged last year, one corner of the energy market stood out for US investors: partnerships that own pipelines and storage tanks. Companies that operate the oil industry’s basic infrastructure typically have long-term contracts, and are less vulnerable
      BLOOMBERG  -  673 words
    • Article, Illustration
      Lock icon Hedge funds resume bullish gold bets on Greek turmoil
      1020 12 BLOOMBERG Chicago HEDGE funds are stepping back onto the gold bandwagon as political turmoil in Greece and government actions in Asia helped send prices to their biggest monthly advance since June. Bullish wagers on the metal increased for the first time
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,020 words
    • Article
      Lock icon China iron ore stockpile falls to lowest level in 11 months
      417 12 BLOOMBERG Singapore IRON ore inventories at ports in China, the largest importer of the steel-making raw material, fell to the lowest level in almost 11 months as mills replenished holdings after prices fell and local output slowed during the
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  • TECHNOLOGY
    • Article
      Lock icon Developing apps that talk to one another
      1098 13 Silicon Valley is working on deep linking the technological hurdle of giving apps some sort of links that make up a Web address or URL NYT New York NAVIGATING the Internet used to mean painstakingly typing the exact address that you wanted into
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      Lock icon Verizon exploring tie-up with AOL
      748 13 BLOOMBERG New York VERIZON Communications Inc has approached AOL Inc about a potential acquisition or joint venture with the Internet company to expand its mo-bile-video offerings, people with knowledge of the matter said. Verizon hasn’t made a formal proposal to AOL, and no agreement is
      BLOOMBERG; PHOTO: REUTERS  -  748 words
    • Article
      Lock icon Facebook buying speech-recognition software startup Wit.ai
      243 13 BLOOMBERG San Francisco FACEBOOK is acquiring Wit.ai, a developer of speech-recognition software, as the social-network-ing service seeks to expand its artificial-intelli-gence technology. The 18-month-old startup’s tools power hundreds of applications to detect spoken words. Facebook didn’t disclose terms of the purchase, which Wit.ai announced
      BLOOMBERG  -  243 words
    • Article, Illustration
      Lock icon Acer CEO Jason Chen sticks with PCs
      894 13 BLOOMBERG Taipei WHEN Jason Chen took over as chief executive officer at Acer Inc a year ago, he was handed a three-page, col-our-coded list of problems at the ailing PC maker. He shoved the memo in a drawer and never looked at it
      BLOOMBERG  -  894 words
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  • TRANSPORT
    • Article
      Lock icon 2015 off to a grim start, but lower fuel costs offer some hope
      915 15  -  It will be a volatile year ahead and industry regulations will get tighter, even as overtonnaging threatens to keep freight rates down STRAIT TALK BY DAVID HUGHES THE New Year opened with two maritime tragedies, followed by
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    • Article
      Lock icon Search teams take advantage of respite from bad weather
      582 15 REUTERS Pangkalan Bun, Indonesia SEARCH teams trying to find the black box flight recorders from a crashed AirAsia jet and recover bodies of victims scrambled on Tuesday to take advantage of a respite in the bad weather that has frustrated the
      REUTERS  -  582 words
    • Article, Illustration
      Lock icon Tale of two ships – one beached, another sinks
      623 15 Tale of two ships one beached, another sinks Crew ground listing vessel loaded with 1,400 cars off UK port; other ship sinks during storm off Scotland NYT London SEEN from some angles, tilting at a crazy angle in shallow water, it might almost resemble a huge plaything discarded by capricious
      NYT; PHOTO: REUTERS  -  623 words
    • Article
      Lock icon American, Hawaiian bid to take Haneda slot from Delta
      355 15 REUTERS New York AMERICAN Airlines and Hawaiian Airlines formally launched bids on Monday to wrest control of a key slot in Tokyo’s Haneda Airport from Delta Air Lines as part of a fight among the carriers to stake out a greater
      REUTERS  -  355 words
    • Article
      Lock icon Prime Leng Kee Rd property may have changed hands
      508 16  -  Eurokars group believed to have bought the plot for its Mazda brand By Samuel Ee samuelee@sph.com.sg Singapore THERE is speculation that automotive group Eurokars has bought another prime piece of Leng Kee Road property, one which was recently in the news
      508 words
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      Lock icon US carmakers set to reap further gains as oil falls
      685 16 BLOOMBERG Southfield, Michigan GM, Ford and other sellers of cars in the US, already benefiting from falling petrol prices, are poised for another year of gains in 2015 after oil dropped below US$50 a barrel for the first time in
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    • Article
      Lock icon Auto industry headed for further consolidation
      637 16 Ferrari’s spinoff sets Fiat Chrysler on course for another M&A deal BLOOMBERG Milan SERGIO Marchionne, the architect of the auto industry’s biggest deal in more than a decade, may not be finished yet. Even as he completed the merger of Fiat SpA and its
      BLOOMBERG  -  637 words
    • Article, Illustration
      Lock icon Toyota opens up fuel-cell patents to boost industry
      345 16 AFP Tokyo TOYOTA will give away thousands of patents for its fuel-cell cars, it said on Tuesday, in an effort to encourage other carmakers into the new industry. The world’s largest vehicle maker said that it will allow royalty-free use of about
      AFP; PHOTO: AFP  -  345 words
    • Article
      Lock icon US drivers will pay up to US$1,499 for technology features
      597 16 Back-up cameras, USB ports and smartphone charging are among the top desires, according to an online survey BLOOMBERG Detroit A MAJORITY of US drivers are willing to pay as much as US$1,499 to have high-tech entertainment and safety devices in
      BLOOMBERG  -  597 words
  • Page 15 Advertisements
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      40 15 As a result of huge tariff increases on vessels calling Chennai effective 1st January 2015, a “Chennai Port Additional” of US$32.00 per TEU will be implemented on all sailings from 10 January 2015. Date: 7 January 2015 Orient Express lines
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    1929 17 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 SEIYO SPRING 2 70 7/1 9/1 12/1 SEA CORAL 65 60 8/1 10/1
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  • Page 17 Advertisements
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      Lock icon Page 17 Advertisements Column 1
      106 17 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 sbh3rnaritime.coM Ahoy there! If you are in a business pertaining to any sector of
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Eurozone PMI shows growth slows in Q4
      639 18 Dec index for services and manufacturing rises to 51.4 from 51.1 in Nov, but falls short of preliminary data BLOOMBERG Frankfurt A GAUGE of euro-area services and manufacturing signalled economic growth slowed in the final quarter of 2014, supporting calls for more stimulus
      BLOOMBERG; PHOTO: BLOOMBERG  -  639 words
    • Article, Illustration
      Lock icon Hong Kong Chief Executive warns against protests ahead of election reform talks
      672 18 AFP Hong Kong HONG KONG’S leader warned on Tuesday against fresh pro-democracy protests before the next step in the city’s contentious political reform process, as a new official report on the mass rallies sparked widespread anger. The government
      AFP; PHOTO: AFP  -  672 words
    • Article
      Lock icon WEF expects record turnout at Davos this year
      218 18 AFP Geneva THE World Economic Forum (WEF) said on Tuesday that its annual gathering at Davos this month will draw a record number of participants and over 300 heads of state and government bigwigs. The Jan 21-24 meeting of the rich and
      AFP  -  218 words
    • Article
      Lock icon Thai junta vows action if Shinawatra supporters protest impeachment
      423 18 Proceedings against former prime minister Yingluck for implementing costly rice subsidy scheme begin on Friday AFP Bangkok THAILAND’S junta chief on Tuesday warned that the military will “take action” under martial law if protests occur as a result of impeachment proceedings
      AFP  -  423 words
    • Article
      Lock icon N Korea boosting capability to attack South: report
      445 18 BLOOMBERG Seoul NORTH KOREA has set up posts along its border with South Korea to be able to more quickly invade its neighbour, while also expanding its artillery and mechanised forces, according to South Korea’s Defence Ministry. Kim Jong Un’s regime is
      BLOOMBERG  -  445 words
    • Article, Illustration
      Lock icon Beijing okays 7 trillion yuan projects for this year
      713 19 investment will be in seven industries including oil gas pipelines, health, clean energy, transportation and mining, say sources BLOOMBERG Beijing CHINA is accelerating 300 infrastructure projects valued at seven trillion yuan (S$ 1.5 trillion) this year as policymakers seek to shore
      BLOOMBERG; PHOTO: REUTERS  -  713 words
    • Article
      Lock icon 2015 will be a turning point for Japan, say nation’s biggest trading houses
      539 19 BLOOMBERG Tokyo JAPAN’S biggest trading houses are calling 2015 a pivotal year for the world’s third-largest economy as cheap oil, easy money and a weaker yen promise to boost growth. Twenty five years on from the bursting
      BLOOMBERG  -  539 words
    • Article, Illustration
      Lock icon Euro countries take tough line towards Greece
      885 19 NYT Paris AS A caustic election campaign in Greece revives fears that the country could leave the euro, European officials are taking an increasingly hard line towards Athens, saying they want to keep Greece in the single currency, though not at any cost.
      NYT; PHOTO: BLOOMBERG  -  885 words
    • Article
      Lock icon Public spending in Philippines stalls amid fight against graft
      825 19 BLOOMBERG Manila THE Philippines ended 2014 with its weakest economic report in almost three years as moves to curb graft and check abuse of power at all levels of government deterred public spending. President Benigno Aquino now faces the challenge of
      BLOOMBERG  -  825 words
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  • OPINION
    • Article
      Lock icon Grexit fears return, but eurozone problem is more than about Greece
      600 20 TWO big issues have been roiling financial markets in recent days. One is oil prices, which briefly breached the US$50 per barrel mark on Monday for West Texas Intermediate (WTI) crude a 50 per cent fall from six months
      600 words
    • Article
      Lock icon Accountants need to be strong in their ethical principles
      858 20  -  THE BOTTOM LINE By Kang Wai Geat, Ang Soon Lii T The writers are respectively deputy head and manager of technical standards development advisory at the Institute of Singapore Chartered Accountants NEWS broke on Dec 12, 2014, that three former top
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    • Article, Illustration
      Lock icon OIL SHORTAGE MAY SET IN BY 2016
      1572 20 If crude oil prices move below US$60/bbl and stay there for even six months it could prove catastrophic to non-Opec supply. BY DAN STEFFENS LOW oil prices today may be setting the world up for an oil shortage as early as 2016. Today
      PHOTO: REUTERS  -  1,572 words
    • Article
      Lock icon Reform in Ukraine a gamble worth taking by the West
      992 21  -  COMMENTARY By Andrés Velasco T The writer, a former finance minister of Chile, is professor of professional practice in international development at Columbia University Kiev A YEAR ago, young Ukrainians were risking their lives on Kiev’s Independence Square to defend
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    • Article, Illustration
      Lock icon As go Korea and Vietnam, so can Korea and Japan?
      750 21  -  By Robert Shapiro T The writer who was US undersecretary of commerce for economic affairs under president Bill Clinton is co-founder and chairman of Sonecon LLC, a Washington, DC-based economics consultancy THE first face-to-face meeting between Chinese President Xi Jinping
      PHOTO: BLOOMBERG  -  750 words
    • Article
      Lock icon OBAMA TO BE THE TRADE PRESIDENT?
      1472 21  -  Notwithstanding their hostility towards the President, Republican leaders in Congress would likely muster support to get TPA approved sooner than later. BY LEON HADAR later.BY LEON HADAR THE current conventional wisdom in Washington goes something like this: Both the Senate and the House of
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon Cathay CEO Suhaimi to quit to ‘pursue other interests’
      536 22  -  MD Choo Meileen to resume duties she assigned him when she appointed him CEO in 2008 By Rachel Loi rachloi@sph.com.sg @RachelLoiBT AFTER almost 20 years in one of Singapore’s oldest movie companies, Suhaimi Rafdi is moving on. The chief executive officer
      FILE PHOTO  -  536 words
    • Article, Illustration
      Lock icon WTA Finals back at Sports Hub in Oct
      439 22  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT THE second edition of the BNP Paribas Women’s Tennis Association (WTA) Finals in Singapore will be held between Oct 23 and Nov 1 this year. The season-ending tournament, which features the top eight female singles players and
      PHOTO: REUTERS  -  439 words
    • Article
      Lock icon Game of Thrones to be shown in Imax theatres in the US
      333 22 NYT New York THE dragons, dire wolves, White Walkers and power-hungry political factions in HBO’s fantasy epic Game of Thrones will invade movie theatres later this month on the big, big screen. An exclusive trailer for the coming
      NYT  -  333 words
    • Article
      Lock icon Liverpool seeking more from jersey sponsors
      778 22 BLOOMBERG Hong Kong LIVERPOOL is demanding an increased amount from potential shirt sponsors even as the English Premier League (EPL) soccer team faces a future without its two most marketable players. The team has been seeking as much as £30 million (S$61.1 million) a
      BLOOMBERG  -  778 words
    • Article, Illustration
      Lock icon Murakami comes out of exile to engage readers
      329 22 REUTERS Tokyo WORRIED about your future, the meaning of life or the realness of unreal things? Ask Japanese author Haruki Murakami for enlightenment or as much as a surrealist can give. Though a perennial favourite for the Nobel Prize in Literature, Mr
      REUTERS; PHOTO: AFP  -  329 words
    • Article
      Lock icon Ali Smith’s ‘How to be Both’ wins UK award
      230 22 REUTERS London SCOTTISH writer Ali Smith’s inventive How to be both was named as the winner in the novel category for Britain’s 2014 Costa Book Awards. Smith’s critically acclaimed novel, also short-listed for the Man Booker Prize, contains the twin stories
      REUTERS  -  230 words
  • Page 22 Miscellaneous
    • Miscellaneous
      Lock icon Page 22 Miscellaneous Column 1
      322 22 CRYPTIC CROSSWORD Across 1 United game almost different in size (9) 6 Flavour that’s enthralled wife in manner of speaking (5) 9 Movement dependent on blades? (7) 10 Skeletal cadet a mite upset wanting one bit of tuck (9) 11 Consider judge academic? Not half (7) 12 In valley there’s
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      239 23 UBS Wealth Insights 2015: Trends and opportunities in a diverging world Japan 3 cities January Singapore 15 January Hong Kong 22 January Australia 5 cities March 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
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  • EXECUTIVE MONEY
    • Article, Illustration
      Lock icon Junk debt in Singapore getting riskier
      1059 24  -  Three out of every 10 notes sold last year now yielding more than 6% By David Yong, Christopher Langner BLOOMBERG DEMAND for higher returns in Singapore bonds from the city’s swelling private banking industry has brought with it greater risks. Three out of every
      BLOOMBERG; PHOTO: ARTHUR LEE  -  1,059 words
    • Article
      Lock icon For bond investors, sometimes it’s best not to pay heed to advice
      1278 24  -  By Paul Sullivan BLOOMBERG OVER the last three or four Januarys, the advice for investing in bonds has been remarkably consistent. It’s gone something like this: Beware of them, because inflation is going to rise, interest rates are
      BLOOMBERG  -  1,278 words
    • Article
      Lock icon One-way dollar wagers losing allure for strategists as rise slows
      682 24 BLOOMBERG New York THE easy money made in 2014 from wagering on the dollar’s appreciation against the euro and yen is over, compelling traders to dig deeper for bargains as the greenback’s advance moderates. After soaring 13 per cent last
      BLOOMBERG  -  682 words
    • Article
      Lock icon Two days of market vertigo make 2015 VIX calls prescient
      846 23 Banks tell equity derivatives clients to get ready for more volatility BLOOMBERG New York IT’S the consensus view of options analysts that day-to-day turbulence in the US stock market will increase this year after falling since 2011. So far, nothing’s
      BLOOMBERG  -  846 words
    • Article
      Lock icon More buys than sells in Singapore stocks
      426 23 ON THE RADAR GLOBAL mutual funds were net buyers of Singapore shares in the three months to Dec 31. In terms of the top five stocks transacted, funds bought S$639.4 million worth of shares compared to net sales of S$605.4 million. Among the
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