The Business Times, 3 March 2015

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Microfilm: NL33430
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Lock icon Masthead
    24 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G C ©BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 Tuesday, March 3,2015
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  • DAILY DIGEST
  • Article
    Lock icon MARKETS
    27 1 Monday Change STI 3,403.89 +1.03 KL COMP 1,817.13 -4.08 NIKKEI 225 18,826.88 +28.94 HANG SENG 24,887.44 +64.15 SHENZHEN B 1,117.34 +10.10 Dow (11am EST) 18,254.24 +121.54
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  • Article, Illustration
    Lock icon RMB under pressure after Beijing cuts rates; more easing expected
    979 1  -  China property market and SOEs to gain from lower funding costs but weaker RMB may hit Asian economies By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore MORE monetary easing by Beijing is on the cards, even as it cut interest rates for
    Source: Bloomberg  -  979 words
  • Article
    Lock icon OCBC reinvents miles redemption with new card
    547 1  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore OCBC has turned one-stop tour agency with its latest credit card offering, as it aims for 30 per cent growth in card spending this year. To hit this, it will break down an age-old system of air
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  • Page 1 Advertisements
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      Lock icon Page 1 Advertisements Column 1
      218 1 Hill 8 '*****1 *****4 BUSINESS DIVERSIFICATION Swensen’s operator on a property hunt COMPANIES MARKETS 7 PROPERTY SALE Industrial building next to Bendemeer Station fetches S$88m REAL ESTATE 12 DATA ANALYTICS Bee Advantage zooming ahead with technology SME 28 PATRIOTISM CONTROVERSY Giuliani loves America, but Obama doesn’t? OPINION 22 TUDOR PELAGOS
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      37 1 The March/April issue of The SME Magazine features Link (THM)’s Kenny Tan who taps on his experience in the fashion industry to build his property business. With your copy of The Business Times tomorrow. Don’t miss it!
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  • TOP STORIES
    • Article, Illustration
      Lock icon Loh Boon Chye leaving BofA Merrill Lynch
      274 2  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore TOP Bank of America Merrill Lynch executive Loh Boon Chye is leaving the bank. An internal memo seen by The Business Times on Monday said that Mr Loh, who joined the US bank in 2012 as
      274 words
    • Article, Illustration
      Lock icon CIMB cuts 15 jobs in Singapore a week after 50 elsewhere in Asia
      680 2  -  Layoffs here are from the equities segment, largely involving institutional sales and to a lesser extent the research unit BANK MOVES By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore IN a dramatic U-turn from its rapid expansion in Singapore,
      REUTERS: FILE PHOTO  -  680 words
    • Article
      Lock icon Goldman S’pore investment bank team down by a third
      393 2  -  Retirement, transfers and redundancies lead to 15 departures while bank says it remains committed to Singapore By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore GOLDMAN Sachs Singapore’s investment banking team has shrunk by about 30 per cent after the departure of 15
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    • Article, Illustration
      Lock icon Sibor up again, now more than double last year’s rate
      528 2  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore THE key three-month Sibor’s (Singapore interbank offered rate) relentless climb has pushed it to more than double last year’s rate, as the US dollar continues to rally. More home-buyers are asking for fixed
      Source: Bloomberg  -  528 words
    • Article
      Lock icon S’pore again leads Asia in real estate investment
      670 2  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore SINGAPORE investors led the region in real estate investments in 2014 with US$11.9 billion worth of properties acquired across the world, a 26.6 per cent increase from 2013, said CBRE Research. This was the second year
      670 words
    • Article, Illustration
      Lock icon Noble versus the Iceberg
      373 4 Noble Group came under a storm on Feb 15 when a previously unknown research firm called Iceberg Research issued a report that alleged aggressive accounting by the commodities trader. Those allegations have been rebutted by Noble, but its shares remain under pressure. The report of a
      BT Graphics: Kenneth Lim, Jennifer Chua Source: Iceberg Research, Noble Group  -  373 words
    • Article
      Lock icon China Feb HSBC PMI at 7-month high but more rate cuts seen likely
      551 4 REUTERS Beijing ACTIVITY in China’s factory sector edged up to a sev-en-month high in February but export orders shrank and deflationary pressures persisted, a private business survey showed, adding to the view that yet more interest rate
      REUTERS  -  551 words
    • Article
      Lock icon India’s gamble on investment led growth
      389 4  -  REUTERS BREAKINGVIEWS By Andy Mukherjee Singapore INDIA’S infrastructure push is the exception to the global norm. The government has decided to pursue a public investment-led growth strategy, even though it means going slow on fiscal correction. It is an opportunity that rich nations, which
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    • Article, Illustration
      Lock icon Confusion over whether MH370 hunt may end
      375 5 REU TERS Canberra THE search for missing Malaysia Airlines Flight MH370 cannot go on forever, Australia’s Deputy Prime Minister Warren Truss was reported by Reuters to have said, and discussions are already underway between Australia, China and Malaysia as to whether to call
      REUTERS; PHOTO: REUTERS  -  375 words
    • Article
      Lock icon More than 80 exhibitors sign up for Natas fair
      501 5  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT @Nisha_BT Singapore THE National Association of Travel Agents Singapore (Natas) fair, which is facing competition from rival fair Travel Revolution 2015, will have more than 80 exhibitors from across the travel industry offering their wares this
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    • Article
      Lock icon Malaysia Airlines to trim capacity
      567 5  -  But its domestic routes and regional flights in Asean and the Asia-Pacific will be beefed up By Pauline Ng btworld@sph.com.sg Kuala Lumpur MORE than a tenth of Malaysia Airlines’ (MAS) capacity will be cut this year as the national carrier focuses on more profitable domestic
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  • Page 4 Advertisements
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      Lock icon Page 4 Advertisements Column 1
      179 4 THE UNIVERSITY OF HI WARWICK SSIMTech A S T A R busim GLOBAL EDUCATION By 2020, Asia will be growing twice as fast as the U.S. So will opportunities. Are you Global Ready? A fast-growing Asia presents new opportunities to advance your career. Take advantage by gaining in-depth expertise in
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      288 5 5 STAR AIRLINE SKYTRAX r\ ■S#r) y 4 V •V v» v r '-W VV" <_ Hi •V 1 ft .1 N V. 1 •V i J J **u; r- 6 i A A,' a 4a V M 4 Feel the tranquillity, the essence of comfort in our fully flat
      288 words
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  • COMPANIES & MARKETS
    • Article
      Lock icon Mixed fortunes for S’pore-listed commodity traders
      988 6  -  Wilmar remains an analyst ‘top pick’ for its cheap, historically-low valuations TTANALYSIS By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore PLUNGING commodity prices in 2014 had varying effects on Singapore-list-ed commodity traders Wilmar International, Olam International and Noble Group which reported mixed quarterly results last
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    • Article, Illustration
      Lock icon Sino Construction dives after profit warning
      499 6  -  HOT STOCK By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore SINO Construction shares plunged 55.8 per cent on Monday, with S$194 million wiped off its market cap within a single trading session. This comes after the company warned investors last Friday of an expected net
      Source: Bloomberg  -  499 words
    • Article, Illustration
      Lock icon Swensen’s operator on property trail
      691 7  -  It has evaluated 10 development opportunities, but has yet to find the right project or partner By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore ABR Holdings, the Singapore franchisee for Swensen’s ice-cream and restaurants, has evaluated 10 property development opportunities as part of its diversification effort. A
      BT FILE PHOTO  -  691 words
    • Article
      Lock icon Outlook for projects still positive, says Yongnam
      397 7  -  By Fiona Lam fionalam@sph.com.sg Singapore YONGNAM Holdings, which on Saturday posted a dismal set of full-year financial results, says the outlook for infrastructural developments and commercial projects in Singapore and the region remains positive. “The group continues to actively pursue S$ 1.1 billion
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    • Article
      Lock icon Mermaid’s earnings dive 67.4% on higher costs
      426 7  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore HIGHER business costs dragged down earnings for offshore service provider Mermaid Maritime in the October to December period, which sent its shares tumbling yesterday. The stock fell 10 per cent or 2.5 cents to 22.5 cents, a
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    • Article
      Lock icon Noble’s Q4 loss consistent with rating: Moody’s
      569 9  -  Moody’s rates it at lowest investment grade rung, but says firm will maintain ‘excellent’ liquidity By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore COMMODITIES firm Noble Group's full-year earnings are consistent with its current credit rating at the lowest investment grade rung, ratings agency Moody's
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    • Article
      Lock icon Tat Hong gains A$6.7m from Aussie property sale
      308 9  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore AFTER a previous attempt to sell some industrial properties failed at the due diligence stage, crane rental company Tat Hong Holdings has managed to dispose of four Australia properties to property developer and investor Primewest Funds
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    • Article
      Lock icon Boardrooms in Singapore still lagging in gender diversity: Hays survey
      630 9  -  By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore WHEN it comes to female representation in the corporate boardroom, Singapore still trails most key cities in Asia, says global recruitment firm Hays. Announcing the survey finding in its 2015 salary guide and
      630 words
    • IN BRIEF
      • Article
        Lock icon GLP inks pre-lease deals in Brazil
        38 9 GLOBAL Logistic Properties (GLP) has signed pre-lease agreements totalling one million square feet in São Paulo, Brazil, with three leading firms: third-party logistics provider Sequoia Logistica and pharmaceutical firms Sanofi and Medley.
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      • Article
        Lock icon Roxy-Pacific unit to buy Brisbane land properties
        86 9 ROXY-Pacific Holdings’ joint venture (through an indirect wholly-owned subsidiary) with HOSTPLUS Peel Street Pty Ltd has entered into contracts to buy land relating to properties in South Brisbane, Australia, for A$33.62 million (S$36 million). The acquisition of the freehold properties with land area
        86 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 10 STI Catalist Straits Times index March 2,2015 3,403.89 +1.03 (+0.03%) Current streak 1 day Day high 3,412.08 Day low 3,389.73 52-week high 3,444.57 (Feb 11, 2015) 52-week low 3,057.20 (Mar 20, 2014) ftse ST Catalist index March 2,2015 697.86 -11.52 (-1.62%) Current streak 2 days Day high 710.25 Day low
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    • Article, Illustration
      Lock icon Late push puts STI into the black
      635 10  -  Sentiment largely unaffected by China’s interest-rate cut; Noble continues to see weakness in its shares STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THE Straits Times Index (STI) kicked off the week by spending the entire session in the red before a push in the
      Source: Bloomberg  -  635 words
    • Article
      Lock icon STI STOCKS
      318 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 251 +4 251/246 263 213 5.7 6346.2 CapitaLand 360 +1 362/357 371 268 13.2 2.5 *****.4 CapitaMall Trust 215 +4 215/211 226 186.5 5 7458.4 CityDev 1017 cd -6 1025/1015 1118 907
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    • Article
      Lock icon MOST ACTIVE
      33 10 VOLUME Xpress 85,897,200 MDR 75,223,000 Noble 71,407,500 Golden Agri-Res 56,190,900 IHC 43,798,000 Market volume 1,508,679,000 VALUE SingTel 115,509,069 DBS Grp 105,832,422 OCBC Bank 84,263,549 Noble 67,136,504 UOB 49,624,074 Market value 1,257,657,000
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    • Article
      Lock icon SGX ETFs
      107 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 339 -1 ***** 341/338 349/305 338/339 IS MS India US$ US813 +3 487 819/809 1000/580 812/815 101.6 Lyxor Taiwan US120.8 -0.5 105 121.3/120.8 123.6/101.2 119.2/119.8 28.8 UETF SSE50China 228 +1 104 230/228 238/140 226/229
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 10 Mar 2 VALUE CLOSE BT OB/OS -205.00 +12.00 BT CADI -*****.00 -130.00 BT 10-day MA -*****.00 -20.00 FTSE ST Mid Cap 781.01 -3.02 FTSE ST Small Cap 488.07 -5.62 FTSE ST All Share 817.48 -0.90 FTSE ST China Top 190.37 -0.93 FTSE ST China 234.32 +0.68 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      34 10 STI FTSE ST All-Share ftse ST All-Share index March 2,2015 817.48 -0.90 (-0.11%) Current streak 2 days Day high 819.71 Day low 815.35 52-week high 827.11 (Feb 11,2015) 52-week low 745.24 (Mar 20, 2014)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 10 STI MSCI EAFE MSCI EAFE Index Feb 27,2015 1,886.26 +5.43 (+0.29%) Current streak 1 day Day high 1,886.90 Day low 1,878.37 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 9 2 0 0 0 3 9 2 Manufacturing 33 65 36 5 12 14 38 77 50 Commerce 14 27 17 2 4 4 16 31 21 Tpt/Stor/Comms 11 18 9
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      120 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 26,877 26,877 62,021 62,021 Manufacturing 293,528 55,156 348,684 125,301 3,307 128,609 Commerce 119,844 31,993 151,837 146,186 1,301 147,487 Tpt/Stor/Comms 119,007 699 119,706 216,301 49 216,350 Finance 26,710 1,312 28,022 257,545 313 257,858 Construction 60,190 13,177
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    • Article
      Lock icon GAINERS
      76 10 BY CENTS CLOSE UP 52w high/low DBXT Nifty US$ ***** 406.4 2.1 *****/***** GLD US$ ***** 173.2 1.1 *****/***** Jardine C&C 4342 72.0 1.7 4901/3810 Lyxor MS India US$ 1800 30.0 1.2 1809/1307 JSH USD 3500 27.3 0.6 3810/3227 BY PERCENTAGE CLOSE UP 52w high/low Action Asia 18.4 64.3
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    • Article
      Lock icon LOSERS
      74 10 BY CENTS CLOSE DOWN 52w high/low DBXT iBoxxSig SG$ ***** -200.0 -1.5 *****/***** DBS Grp 1928 -29.0 -1.5 2067/1565 UOL 763 -22.0 -2.8 800/595 IS ASIA HYG US$ 1065 -19.1 -1.3 1119/1013 Lyxor ChinaH US$ 1675 -17.7 -0.8 1700/1221 BY PERCENTAGE CLOSE DOWN 52w high/low SinoConstruction 11.7 -55.8-14.8 32/11
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    • Article
      Lock icon UNUSUAL ACTIVITY
      82 10 VOL CLOSE($) CHANGE Action Asia 3,059.5 0.184 +0.072 +64.29 Southern Pkg 692.0 0.120 -0.018 -13.04 Annica 16,652.8 0.004 -0.001 -20.00 Dapai Intl 2,212.0 0.006 -0.002 -25.00 China Haida 391.0 0.019 -0.003 -13.64 Select 397.4 0.445 +0.045 +11.25 ABR 767.1 0.780 -0.020 -2.50 World Precision 479.1 0.335 +0.020 +6.35
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    • BROKERS’ TAKE
      • Article
        Lock icon Midas Holdings
        71 10 Buy March 2 close: S$0.315 Target price: S$0.49 DBS Group Research, March 2 FY14 earnings above expectations, growing 19 per cent year on year to 56.6 million yuan, led by Q4 recovery. Final DPS (dividend per share) of 0.25 Singapore cents declared (same as FY13). On track for
        71 words
      • Article
        Lock icon Sinarmas Land
        85 10 Buy March 2 close: S$0.77 Target price: S$0.96 Phillip Securities Research, March 2 NET profit above our expectations bolstered by divestment gain of London asset. Joint venture (JV) projects Indonesia Convention Exhibition and AEON Mall BSD City to commence operations in 2015, augmenting the recurring income. Looking to
        85 words
      • Article
        Lock icon Super Group
        69 10 Sell March 2 close: S$1.29 Target price: S$0.92 dmg Partners Research, March 2 SUPER Group’s FY14 results were above expectations, with recurring net profit coming in at S$61.3 million. We are positive on management’s branding and innovation strategy, but believe payoff is unlikely in the foreseeable future amidst
        69 words
      • Article
        Lock icon China Merchants Holdings (Pacific)
        148 10  -  Compiled by Kenneth Lim Add March 2 close: S$1.07 Target price: S$1.16 CIMB Research, March 1 AT 99 per cent of our forecast, CMH’s FY14 core net profit was in line with our expectations. However, we cut FY15-17 core earnings per share by 8-11 per cent
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    • Article
      Lock icon CALENDAR
      10 10 DATA I 9.30pm (March 3) Singapore Purchasing Managers Index
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    • Article
      Lock icon US$ up again on positive US data, China rate cut
      410 11 CURRENCIES AFP Tokyo THE US dollar extended its gains in Asia on Monday as better-than-expect-ed revised US growth data and an interest rate cut by China’s central bank boosted confidence, analysts said. In Tokyo, the US dollar fetched 119.85 yen,
      AFP  -  410 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 11 Mar 2 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.972 4.873 0.695 6.024 48.100 100.702 0.931 8.555 2.819 1.033 79.135 34.247 1.059 9.090 0.742 24.418 25.128 0.505 0.777 Canada 1.028 5.011
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      • Article, Illustration
        Lock icon HANG SENG
        2 11
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      • Article, Illustration
        Lock icon NIKKEI
        1 11
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 11
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      • Article, Illustration
        Lock icon DOW JONES
        2 11
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 11 Mar 2 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0588 1.0599 0.7765 0.7770 Canadian dollar 1.0890 1.0897 0.7988 0.7986 Euro 1.5240 1.5247 1.1176 1.1177 NZ dollar 1.0250 1.0262 0.7517 0.7523 Sterling pound 2.0987 2.1000 1.5391 1.5395
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 11 Mar 2 S$ Bid Offer 1-month 1.3647 1.3655 2-months 1.3655 1.3663 3-months 1.3661 1.3670 6-months 1.3679 1.3690 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        202 11 Mar 2 Most active Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left OCBC Bk MB eCW*****3 10.2 -1.6 6268 0.2 1050 5 Rowsley Ltd W*****3 3.5 -0.3 6162 1 18 19 UOB MB eCW*****1 14.9 -0.3 3435 0.1 2380
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 11 In local curr In S$ In US$ dy yr dy yr dy yr Feb 27 Index Change Change Change Change Change Change World Preliminary 1343.3 0.1 5.3 0.4 6.7 0.2 3.9 EAFE Preliminary 1077.5 0.2 9.2 0.5 9.1 0.3 6.3 Europe Preliminary 1519.7 0.2 10.0
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        368 11 Mar 2 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.40 *****.17 *****.23 Mar15 *****.00 *****.00 *****.00 *****.00 ***** *****8 Jun15 *****.00 *****.00 *****.00 *****.00 1062 9130 MSCI TAIWAN INDEX FUTURES SPOT 357.97 360.60 355.49 Mar15 358.90 360.70 356.40 357.30 3968 *****0 Apr15 360.00
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    • BANK RATES
      • Article
        Lock icon SIBOR
        36 11 Mar 2 (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
        153 11 Mar $S Offer Bid 0vernight 0.20 0.10 1-month 0.6875 0.5625 2-months 0.6875 0.5625 3-months 0.8750 0.7500 Overnight mode: 0.55 US$ 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 months
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      • Article
        Lock icon GOVERNMENT SECURITIES
        69 11 Mar 2 Mar 2 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.67 102.73 102.73 5-Year N*****0H 1.625 01-Oct-19 99.79 99.88 99.83 10-Year NY*****H 3.000 01-Sep-24 106.28 106.50 106.20 15-Year NY*****E 2.875 01-Jul-29 103.78 103.85 103.80 20-Year NZ*****V 3.375
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        253 11 Feb-27 Price Net change change Last Trade Agricultural Feb-27 CBOT Soybeans (US cents/bu) 1030.75 6.75 0.66% 13/03/2015 CBOT Soybean Oil (US cents/lb) 32.80 0.96 3.02% 13/03/2015 CBOT Wheat (US cents/bu) 517.50 14.25 2.83% 13/03/2014 Feb-27 LIFFE Cocoa (£/tonne) 2035.00 16.00 0.79% 16/03/2015 LIFFE Coffee (US$/tonne) 1871.00 37.00 2.02%
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  • Page 6 Advertisements
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      Lock icon Page 6 Advertisements Column 1
      985 6 ADVERTORIAL Singapore sees growing interest in sustainable forestry assets receive the proceeds from the sale of harvested marketable product. With plantations and agricultural projects across four continents, APC has built a strong multi-year track record in providing sustainable management services to the forestry and agricultural sector around the world. Adrian
      985 words
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      182 words
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      Lock icon Page 7 Advertisements Column 2
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      219 words
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      6,455 words
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      305 words
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      Lock icon Page 9 Advertisements Column 2
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      67 words
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Industrial building next to Bendemeer Station fetches S$88m
      459 12  -  Buyer likely eyeing capital appreciation of the property in the medium term, say market watchers By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore A COMPANY linked to the Lee family that founded OCBC has sold a plum light industrial building next to the upcoming
      PHOTO: YEN MENG JIIN  -  459 words
    • Article
      Lock icon Prices of small private housing units holding out well – for now
      506 12  - Prices of small private housing units holding out well for now By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore SO far, price declines for completed private apartments and condos have been less pronounced for small units. But things could be headed for a change, as more shoebox units are completed and the
      506 words
    • Article
      Lock icon Japan’s Reits prefer share sales to bonds as property market turns bullish
      457 12 BLOOMBERG Tokyo JAPAN’S real estate investment trusts are raising more funds from shares, and avoiding a volatile bond market, as investors bet Abenomics will boost property prices. Reits offered 222 billion yen (S$2.5 billion) of equity this year,
      BLOOMBERG  -  457 words
    • Article, Illustration
      Lock icon China rate cut seen helping property market
      537 13 But a strong recovery is unlikely in view of an over-supply of unsold homes REUTERS Hong Kong CHINA’S second interest rate cut in just over three months will boost property sales and help stabilise weak house prices, but a strong recovery in the
      REUTERS; PHOTO: REUTERS  -  537 words
    • Article
      Lock icon UK Feb house-price growth eases
      321 13 BLOOMBERG London UK house-price growth eased in February to the slowest in 17 months amid what Nationwide Building Society said is a “subdued” property market. Values rose 5.7 per cent from a year earlier, down from 6.8 per cent in January, the lender said on
      BLOOMBERG  -  321 words
    • Article, Illustration
      Lock icon Sale of billionaire’s home uncovers dirty secrets
      1289 14 Hampstead house on the block to recover allegedly embezzled funds, throwing light on other upscale London property held via trust funds, offshore companies BLOOMBERG London ON London’s Billionaires Row in Hampstead, the sev-en-bedroom Carlton House with its 50-foot ballroom, underground swimming pool and
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      Lock icon New China property rule to aid graft fight
      475 15 Registration regulation is also expected to strengthen protection of ownership XINHUA Beijing A NEW property registration regulation has allowed Chinese authorities to begin collecting ownership data on a unified platform, a move intended to strengthen protection of ownership and also shed light
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    • Article
      Lock icon Record Sydney home sales fuel bubble fears
      210 15 BLOOMBERG Sydney SYDNEYSIDERS wanting to sell their homes have never had it easier. The proportion of successful house auctions in Australia’s largest city was above 80 per cent at the weekend for the fourth week in a row. That is the longest stretch
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      461 12 FOR SALE BYTENDER ..lllih CUSHMAN WAKEFIELD Estate Agents Licence No: L*****33E W FOR MORE INFORMATION, PLEASE CONTACT: JOHN WONG (R*****6 1 MANSEN ONG (R03I3I2F) (+65) 8299 3432 (+65) 9197 6836 john.wong@ap.cushwake.com mansen.ong@ap.cushwake.com COLLECTIVE SALE 605 MACPHERSON ROAD CITIMAC INDUSTRIAL COMPLEX 12,986.8 sq m land area (139,789 sq ft) Plot Ratio
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      122 13 Md. Nazaimoddin,58 Assistant Front Office Manager eourgu s r suites, c din wou za e them e m feeMik sidepts. Jennifer Tan Director of Human Resources, Raffles Singapore Tap into a wealth of experience With years of experience and know-how, older workers are assets to any employer. They have the
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      360 14 STProperty EVENTS All prices are inclusive of GST TICKETS NORMAL 1-Day Pass 2-Day Pass $25 $40 ‘Early bird price ends 30 March 2015 Date: Saturday Sunday 18-19 April 2015 r > w— KSH SB* i i EARLY BIRD $18 $30 STPROPERTY SEMINAR: Strategies to Capitalise on Opportunities and Avoid Pitfalls
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      231 15 ImmediateOccupation Pearl Island Sentosa Cove From$13million up 3 Storey Brand New Waterfront Bungalows Wine lounge Walk in Wine Cellar Pool/Private Lift Fully Equipped Private Berth Zen Garden 5 Bedrooms Fully En-suite Sole Agent:Newsman Realty Pte Ltd Call us for a Private Preview today! Limited Units! Estate Agent’s no: L*****29F CEA
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  • BANKING & FINANCE
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      Lock icon StanChart staff brace for big change under new chief
      907 16 Bill Winters will need to take tough decisions to reverse 2-year slump in bank’s fortunes, say insiders REUTERS Hong Kong INCOMING Standard Chartered chief executive Bill Winters will need to take tough decisions that predecessor Peter Sands deemed unnecessary, in order
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      Lock icon Berkshire insurance ‘superstar’ could fill Buffett’s shoes
      488 16 REUTERS New York WARREN Buffett, at a news conference in Bengaluru in 2011, lavishly praised Berkshire Hathaway executive Ajit Jain for smoothly running much of the conglomerate’s insurance businesses. Mr Buffett, the billionaire chief executive officer and chairman of Berkshire, said he would
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    • Article
      Lock icon When financial sector growth becomes a drag
      597 16 Even during good times the impact of big finance can be negative for the world NYT New York ATTENDEES at last week’s JPMorgan Chase annual investor day once again asked the question that no big bank executive wants to hear. Wouldn’t shareholders be
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      1273 16 The Business Times NOTICES i rn Rules 91 and 101 FORM 69(3) IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF WALLPILE PTE LTD (IN COMPULSORY LIQUIDATION) NOTICE OF INTENDED DIVIDEND Name of Company: Wallpile Pte Ltd (In Compulsory Liquidation) Companies Winding Up Number: 57
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      17 16 Choose from Prime Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Tenders Auctions Notices
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  • ENERGY & COMMODITIES
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      Lock icon Oil spread blow-out portends new price slump
      782 17 Market flashing warning signs that vital Oklahoma storage tanks will fill up sooner than expected REUTERS New York ANOTHER sharp dive in oil prices may be nearer than you think, according to traders who see the market flashing warning signs that vital Oklahoma
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    • Article
      Lock icon UK govt fails to block deal between German, Russian energy firms
      608 17 London worried gas field may face sanctions over Ukraine NYT London THE German utility RWE and a Rus-sian-controlled investment company said that they expected to complete a deal for the oil and gas subsidiary RWE Dea later on Monday,
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      631 17 Fulfilling Your Potential For Career Organisational Success Who should attend: Middle to Senior Managers, Team Leaders Supervisors, HR Managers and Mid-career PMETs. FULL-DAY WORKSHOPS Lifelong Employability by Choice and not by Chance 4 Es and 1 P of Leadership: "Practical Implications for Modern Managers” Managing and Harnessing the Potential of
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  • TECHNOLOGY
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      Lock icon 5G is the next big thing but no one knows why
      819 18 Industry has to first define what new features it will offer that the current generation of wireless networks can’t REUTERS Barcelona RUNNING short of dramatically new phone designs, leaders of the world’s wireless industry agree their next big idea
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      Lock icon Chipmaker NXP to buy Freescale in US$11.8b deal
      718 18 NYT New York NXP Semiconductors said that it would buy a smaller peer, Freescale Semiconductor, in an US$11.8 billion deal that would create a big maker of chips for industries as varied as automobiles and mobile payments. The merger will also offer
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    • Article
      Lock icon IBM’s top brains working on a ‘brain in a box’
      483 18 WP Washington THE human brain is a powerful supercomputer, but it consumes very little power. The brain is also excellent at processing information efficiently billions of neurons are deeply connected to memory areas which gives us the ability to access
      WP  -  483 words
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      27 18 Stay up-to-date with our stories, analysis and infographics btd.sg/budget_15 s Q. Budget 2015 fir BusinessTimes.com.sg BTofeital Available on the get it on K AppStore (►Googleplay thebusinesstimes btbreakingnews
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      66 18 H O T PR O PERTY ***ALL-WHITE REINSTATED SHOPHSE 2000/4200 sqft Outram MRT. Easy parking Classy quiet st. Direct to ECP/AYE/CTE. OFF CLUB ST 1400sf #02 open plan, quiet facing. Convenient to MRT. Ample carpark. AZ @PAYA LEBAR #07-02 2497 sf Full window views. Next to lift. Avail immed. VTO!
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      219 18 Is there a direct link between a fall in the oil price and the performance of shares? Historically, cheaper oil has been bad for energy stocks but good for many other types of shares. Join us for a full day course to hear and learn from our popular investment guru,
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  • CONSUMER
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      Lock icon China’s tech industry takes on food safety
      1089 19 Apps that provide product details, farmers selling directly to online consumers and smart chopsticks to check contamination are some of the tools NYT Hong Kong THE smartphone tells the story of a kiwi fruit in China. With a quick scan of a code,
      NYT; PHOTO: NYT  -  1,089 words
    • Article
      Lock icon For casinos in Manila’s gaming strip, more is better
      292 19 REUTERS Manila MORE than three years after opening ultra-luxe nightclub Pangaea in Singapore’s glitzy Marina Bay Sands, owner Michael Van Cleef Ault is now betting that Manila’s casinos will be able to draw rich punters and partygoers through his doors. The
      REUTERS  -  292 words
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      42 19 more @news.omy.sg Hospitality Investment Conference Indian Ocean Maldives Mauritius Seychelles Sri Lanka 25 26 May 2015 Colombo, Sri Lanka A New Era i Contact Michelle at +65 6848 5374 or email her at michelle@sphereconferences.com for sponsorship opportunities Organiser: sphere SINGAPORE PI www.hicio.sphereconferences.com
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      61 19 lO m^anmar Incorporating: Myanmar O retail Urban and City Planning Conference 201 5 111^ clt Real Estate Show Myanmar 2015 29 June -1 July 2015 Yangon, Myanmar I h Your gateway to trends and investment opportunities in Myanmar's real estate Contact Jason at +65 6848 6051 or email jason@sphereconferences.com to
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      12 19 $25SUBSCRIPTION DIGITALDEAL SPECIALLY FOR OUR 25thBIRTHDAY! SCAN TO SUBSCRIBE SAVE 70% WWW.TORQUE.COM.SG
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  • OPINION
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      Lock icon Eurozone leaders must accept that austerity for Greece won’t work
      563 22 THE eurozone may have bought itself a respite and a few months of valuable time after its finance ministers provisionally agreed to a deal on Greek debt. Greece’s sovereign debt stands at more than 320 billion euros (S$490 billion), and
      563 words
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      Lock icon The ‘next America’ is now
      824 22  -  Power may derive from the people, but it must be tempered in ways that allow for the future. This is a challenge every generation faces and one that we are arguably failing. THE BOTTOM LINE By Robert Samuelson THE WASHINGTON POST WRITERS GROUP THE political
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      Lock icon Giuliani loves America, but Obama doesn’t?
      1300 22  -  Attacks by “America’s Mayor” on President’s supposed lack of patriotism spark controversy By Leon Hadar THEY still refer to him as “America’s Mayor”, a term coined by actress and television star Oprah Winfrey. And Rudolph (“Rudy”) Giuliani, the former mayor of New York City
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    • Article
      Lock icon A great start to making it easier to do business in India
      941 23  -  INDIA BUDGET 2015 By Richard Rekhy T The writer is CEO of KPMG in India and a member of the global board of KPMG International. The views are personal THE upbeat Economic Survey tabled in Indian parliament a
      941 words
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      Lock icon The public-private formula for universal health coverage
      1805 23  -  By Phua Kai T Dr Phua Kai Hong holds a tenured appointment in Health and Social Policy at the Lee Kuan Yew School of Public Policy, the National university of Singapore. The above is excerpted from a paper he presented at the WHO
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  • TRANSPORT
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      Lock icon Apple car reports fuel Geneva debate about car of the future
      586 25 Carmakers are unnerved by software companies’ ability to innovate and create new revenue streams REUTERS Geneva THE main talking point at this week’s Geneva car show is likely to be a vehicle that may never be built: the Apple
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      Lock icon Brazil cracks down on protesting truckers
      348 25 REUTERS Sao Paulo BRAZILIAN police cracked down on striking truckers on Sunday, arresting protesters and ending roadblocks in all but two states after demonstrations turned violent and slowed food deliveries in Latin America’s largest economy. By Sunday evening, there were only 12 partial roadblocks
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    • Article
      Lock icon Saudi travel tycoon receives boost from pilgrimage travels
      976 25 BLOOMBERG London MOHAMMED Al Madani, chancellor at Saudi Arabia’s ministry of foreign affairs, is a frequent flier, logging at least 10 international trips a year on diplomatic missions to London, Lisbon, Manila and elsewhere. Before packing his bags, he usually checks in
      BLOOMBERG  -  976 words
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      124 25 Sea A 21 -23 April 2015 Marina Bay Sands® Singapore Organisers Seatrade' SSVIF Singapore Maritime Foundation 13? In Print Online At Events Sponsors UkRfi ADMIRALTY AXSMARINEX fhctNK Nautical Products Services t—p Ttl Mobil Performance by E^onMobil Principal Sponsors DP WORLD > ANGLO-EASTERN The Asian Voice in World Shipping Charting Asia's
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    1021 26 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville Hyundai Progress 298E 04 Mar 02 Apr 18 Apr 24 Aug 27 Apr 29 Apr 02 May 03 May 08 May 11 May 11
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      218 26 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE the business times ftShipping times Experienced Sft/p maintenance services wanted. Can they find your services here in the Shipping Times? The Business Times TO ADVERTISE, CALL JOE WONG AT 9620 1327 m ■jMrnc I UP H——ttBf 1'
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  • LIFE & CULTURE
    • Article
      Lock icon The problem with Japan’s neglected graves
      623 27 WP Tokyo AN INCREASING number of graves has been abandoned across Japan as no one is taking care of them due to lower birth rates and depopulation. A range of serious problems have arisen, including unkempt graveyards and overdue payments for managing the graves.
      WP  -  623 words
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      Lock icon Former Tyco chief out of jail and living modestly
      1424 27 Once the archetype of avarice, Dennis Kozlowski is on the path to equanimity after paying his debt to society NYT New York THESE days, his shower curtain is from Bed Bath Beyond in a nondescript white. On the 35 th floor
      NYT; PHOTO: NYT  -  1,424 words
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      70 27 12th edition 19 22 March 2015 Singapore EXPO Hall 6 11am 10pm Daily Participate in Singapore’s MEGA Food Beverage Fair Sell local international food products to over 250,000 visitors during the March school holiday period! Book Your Space NOW! *Limited Booths Available! For more information, call *****620 or email to
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      18 27 MARCH ISSUE OUT NOW! $25SUBSCRIPTION DIGITALDEAL SPECIALLY FOR OUR 25 th BIRTHDAY! SCAN TO SUBSCRIBE SAVE 70% WWW.TORQUE.COM.SG
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  • Page 27 Miscellaneous
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      314 27 CRYPTIC CROSSWORD Across 5 Cheer from 250 in a train (7) 7 The woman following us may be match participant (5) 9 Pet needing bowl of water and grub? (3,3) 10 Record sound that’s getting less and less (8) 11 This may suggest a whiskery visitor less welcome than Santa!
      314 words
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  • SME
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      Lock icon Zooming ahead with technology
      1297 28  -  Bee Advantage addresses gaps in productive chains and proposes solutions accordingly. BY VIVIEN SHIAO BY VIVIEN SHIAO vshiao@sph.com.sg @VivienShiaoBT IT is no longer enough for small and medium enterprises (SMEs) to work hard these days it is now imperative to work smart. More companies are now
      PHOTO: ARTHUR LEE  -  1,297 words
    • Article
      Lock icon What China’s ‘new normal’ means for leaders
      890 28  -  COMMENTARY By Henri-Claude de Bettignies T The writer is The Aviva Chair Professor of Leadership and Responsibility Emeritus and Emeritus Professor of Asian Business and Comparative Management at insead. This article is based on a talk delivered at Bank of East Asia in
      890 words