The Business Times, 12 March 2015

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Total Pages: 28
1 28 The Business Times
  • 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 Thursday, March 12,2015
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  • DAILY DIGEST
    • 25 1 receive financial injections to help strengthen Singapore’s aviation and maritime sectors, by focusing on areas such as talent development. TOP STORIES 3
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    • 27 1 establish a new Social Science Research Council by the middle of this year, to promote and strengthen the field in Singapore. TOP STORIES 4
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    • 34 1 Malaysia has pronounced the country’s banking system sufficiently robust, with its stress tests indicating that it can withstand various shocks, including recessionary conditions and corporate defaults. TOP STORIES 4
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    • 23 1 yet another acquisition deal on the table and another potentially dilutive plan to fund it as well. COMPANIES MARKETS 5
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    • 32 1 Group comes to a grinding halt as falls three days in a row take the stock to a 17-month low of 92 Singapore cents. COMPANIES MARKETS 8
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    • 23 1 the residential leasing market, with rents for both private non-landed homes and public housing flats still heading south. REAL ESTATE/14
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    • 43 1 investment, retail sales and factory output all misses forecasts in January and February and falls to multi-year lows, leaving investors with little doubt that the economy is still losing steam and in need of further support measures. GOVERNMENT ECONOMY 22
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    • 30 1 and war. In Brazil, a corruption scandal may derail the economy. And in Turkey, the president is attacking the country’s senior central banker. GOVERNMENT ECONOMY 23
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  • 814 1  -  Amount is triple the S$335m notched in the same period last year; equity market, in contrast, has yet to see its first IPO this year By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore THE Singapore dollar bond market is perking up,
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  • 704 1  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore SINGAPORE will continue to invest to stay at the forefront of the biomedical sciences industry, even as the sector generated output of S$ 21.5 billion last year and employed 16,800 people, said Deputy Prime Minister
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  • 26 1 Wednesday Change STI 3,378.59 (-19.67) KL COMP 1,778.16 (-11.57) NIKKEI 225 18,723.52 (+58.41) HANG SENG 23,717.97 (-179.01) SHENZHEN B 1,108.29 (+0.69) DOW(noon EDT) 17,708.40 (+45.46)
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  • Page 1 Advertisements
    • 70 1 Hill 8 '*****1 *****4 BUDGET DEBATE No immediate plans to hold back COES TOP STORIES 2 ONE MAN, ONE MACHINE. G.P.M.H. GRAND PRIX DE MONACO HISTORI Q UE CHRONO CHOPARD BOUTIQUES #01-03 Takashimaya S.C., Tel. 6733 8111 B1-107 The Shoppes at Marina Bay Sands, Tel. 6688 7999 #026-091 Changi Airport
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    • 22 1 COMMENTARY Don’t blame ABSD for overseas property buys top stories 3 SULTAN GATE Standalone shophouse block sold for S$20.8m REAL ESTATE 13
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    • 14 1 LEASING MARKET Rents for condos, HDB flats down in February: SRX REAL ESTATE /14
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  • TOP STORIES
    • 591 2  -  Smoothening out the future supply of COEs this way is not a straightforward exercise, says Josephine Teo BUDGET DEBATE By Samuel Ee samuelee@sph.com.sg Singapore THERE have been calls to smoothen out the future supply of Certificates of Entitlement (COE) by holding back COEs,
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    • 590 2  -  Lui: Survey shows higher levels of satisfaction, but recent breakdowns hurt confidence in the network By Samuel Ee samuelee@sph.com.sg Singapore A survey last year indicated that more commuters are satisfied with public transport, but the recent rail disruptions show there is room
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    • 386 2  -  BT Infographics LEE MEIXIAN The government is embarking on a new roadmap to boost productivity in the construction sector, a traditional laggard. The target is to achieve an average 2-3% improvement in each of its three productivity indicators per annum till 2020. LEE MEIXIAN takes a look at
      Source: BCA, MTI, MND BT Graphics: LEE MEIXIAN, SIMON ANG & JENNIFER CHUA  -  386 words
    • 323 2  -  By Samuel Ee samuelee@sph.com.sg Singapore THE second package of public bus services under the Government Contracting Model will be put out for tender in the second quarter of this year. Under this package, the bus services will be operated from the new Loyang
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    • 686 3  -  Concept plans for Changi Airport’s Terminal 5 finalised By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT @Nisha_BT Singapore TWO funds will receive financial injections to help strengthen Singapore’s aviation and maritime sectors, by focusing on areas such as talent development. The Civil Aviation Authority of
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    • 811 3  -  Cash-rich Singaporeans need more education on the various investment options available Benvolio: “Be ruled by me, forget to think of her.” Romeo: “O, teach me how I should forget to think. Benvolio: “By giving liberty unto thine eyes Examine other beauties. William Shakespeare,
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    • 500 4 Tharman says new challenges require fresh perspectives and approaches in public policy By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore THE government will establish a new Social Science Research Council (SSRC) by the middle of this year, to promote and strengthen
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    • 682 4  -  She says stress tests show the system can withstand shocks, even loan defaults by highly leveraged entities By Pauline Ng btworld@sph.com.sg Kuala Lumpur THE governor of Bank Negara Malaysia (BNM) has pronounced the country’s banking system sufficiently robust, with its stress tests indicating
      PHOTO: BLOOMBERG  -  682 words
    • 434 4  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore SPICKIFY a local cleaning services platform launched last July that lets users find, arrange and pay for a helper on-demand says it has been acquired by Rocket Internet-backed competitor Helpling. This marks the second buyout this year
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    • 678 4  -  By Fiona Lam fionalam@sph.com.sg Singapore THE National Environment Agency (NEA) and the Land Transport Authority (LTA) want to make it worth the while of diesel-vehicle owners to replace their older, pollutive vehicles with cleaner, newer ones. To this end,
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    • 669 4  -  By Fiona Lam fionalam@sph.com.sg Singapore BUSINESS owners and entrepreneurs will be able to learn from experts how to make the most of Budget 2015 at an upcoming seminar next Tuesday. Featuring speakers and a panel
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  • Page 3 Advertisements
    • 147 3 The Human Capital Leadership Institute is pleased to announce the launch of; HUMAN CAPITAL INSIGHTS INSPIRING PRACTICES FOR ASIA, FROM ASIA The Asian Human Capital Award has identified and celebrated successful people practices in Asia for the past five years. The practices nominated are compelling stories of innovative solutions developed
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  • Page 5 Advertisements
    • 152 5 Sotheby's I .>>•; $'"i. [I,*: m y f TV v Wk..; ’j $&JU. >'■ V V) IM r *< r'-f 7- i r 'N, u 'ft u- 1 j 8KVI »> vn A lS- >v J An exceptional pair of ruby and diamond pendent earrings, BULGARI. Estimate HK$35,000,000-40,000,000 US$4,500,000-5,000,000. Magnificent
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  • COMPANIES & MARKETS
    • 707 6  -  Company also plans to issue S$25 million of three-year convertible bonds to partly fund the purchase By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Additional reporting by Melissa Tan Singapore WE Holdings has yet another acquisition deal on the table and another potentially dilutive plan
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    • 522 6  -  By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore DESPITE higher sales, Del Monte Pacific incurred a US$2.2 million net loss for its fiscal third quarter ended Jan 31, 2015 (Q3 FY2015) as its bottom line was hurt by expenses relating to the
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    • 635 6  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore INTEREST rate-related volatilities may bring the market back to a risk-on mode and result in capital outflow from the Singapore real estate investment trust (S-Reit) sector. If this happens, it would present
      Source: Bloomberg, Credit Suisse  -  635 words
    • 500 7  -  It put a halt to project when civil war broke out in 2011 but was sued by Bahrain bank for payment By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore ENGINEERING and infrastructure firm Boustead Singapore has won a US$18.8 million dispute with Bahrain bank Arab Banking
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    • 359 7 Singapore FRASERS Hospitality has opened its third serviced residence in Malaysia’s capital city of Kuala Lumpur. Boasting 445 units, Fraser Residence Kuala Lumpur is both the city and the Frasers Centrepoint hospitality arm’s largest serviced residence to date. The property brought Frasers Hospitality’s
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    • IN BRIEF
      • 44 7 NAM Cheong has won orders for two vessels totalling US$58 million, taking its current order book to RM1.7 billion (S$638.4 million), the shipbuilder said on Wednesday. The contracts are expected to contribute to earnings for 2015 and 2016.
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      • 44 7 GLOBAL Logistic Properties (GLP) has signed new agreements totalling 63,000 sqm with four customers in China. The customers, whom GLP did not name, are in the e-commerce, packaged foods, and pharmaceutical industries. Three are multi-location GLP customers in China.
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      • 40 7 AEROSPACE engineering and logistics solutions provider A-Sonic Aerospace will be consolidating every four shares into one consolidated share, subject to shareholders’ approval. This will be obtained at an extraordinary general meeting (EGM) to be convened.
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      • 81 7 CATALIST-listed Junma Tyre Cord Company is proposing a voluntary delisting, with Ultimative making an exit offer price of 20 Singapore cents in cash for all the 15,875,600 offer shares. Ultimative is a special purpose vehicle incorporated in the British Virgin Islands for the proposed exit
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    • 335 8  -  Comeback bid grinds to a halt as stock resumes fall in the wake of refinancing report HOT STOCK By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore THE comeback bid by Noble Group came to a grinding halt this week as falls three days
      Source: Bloomberg  -  335 words
    • 288 8 REUTERS London CREDIT Suisse’s new boss Tidjane Thiam could cut almost 3,000 jobs from its investment bank, or 15 per cent of staff, as part of a shift of capital away from trading desks to private banking in Asia, analysts said.
      REUTERS; PHOTO: BLOOMBERG  -  288 words
    • 422 8 BLOOMBERG Mumbai ICICI Bank Ltd, India’s largest privatesector lender, is in talks to sell part of its stake in an insurance unit to Temasek Holdings and Carmignac Gestion for about US$300 million, sources familiar with the matter
      BLOOMBERG  -  422 words
    • Article, Illustration
      63 10 STI Catalist Straits Times Index March 11,2015 3,378.59 -19.67 (-0.58%) Current streak 3 days Day high 3,391.82 Day low 3,369.42 52-week high 3,444.57 (Feb 11, 2015) 52-week low 3,057.20 (Mar 20, 2014) FTSE ST Catalist index March 11,2015 686.90 -3.48 (-0.50%) Current streak 1 day Day high 689.41 Day low
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    • 639 10  -  Banks, Jardine stocks and Singtel contribute to STI’s 19.67-point drop, its third consecutive fall this week STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT TRADERS who bet that the Straits Times Index’s Tuesday weakness foretold a plunge ahead on Wall Street would have got it
      Source: Bloomberg  -  639 words
    • 321 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 248 -2 250/246 263 213 5.7 6270.3 CapitaLand 348 +3 349/341 371 268 12.7 2.6 *****.8 CapitaMall Trust 207 -1 209/205 226 186.5 5.2 7180.9 CityDev 1013 cd +8 1017/1002 1118 907
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    • 36 10 VOLUME Magnus Energy 126,786,100 Noble 79,136,800 IHC 62,947,400 Moya Asia 48,560,100 Darco Water Tech 41,363,700 Market volume 1,477,329,000 VALUE SingTel 78,841,282 Noble 72,715,961 DBS Grp 72,234,115 UOB 58,468,529 Keppel Corp 53,088,006 Market value 1,222,186,000
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    • 77 10 Mar 11 VALUE CLOSE BT OB/OS -747.00 -199.00 BT CADI -*****.00 -170.00 BT 10-day MA -*****.00 -74.00 FTSE ST Mid Cap 769.25 -6.17 FTSE ST Small Cap 477.85 -3.66 FTSE ST All Share 809.71 -5.09 FTSE ST China Top 190.15 -1.11 FTSE ST China 234.18 -1.32 FTSE
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    • 34 10 STI FTSE ST All-Share ftse ST All-Share index March 11,2015 809.71 -5.09 (-0.62%) Current streak 3 days Day high 812.96 Day low 808.19 52-week high 827.11 (Feb 11,2015) 52-week low 745.24 (Mar 20, 2014)
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    • 33 10 STI MSCI EAFE MSCI EAFE index March 10,2015 1,807.49 -31.12 (-1.69%) Current streak 3 days Day high 1,839.67 Day low 1,807.49 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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    • 186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 7 5 0 0 0 4 7 5 Manufacturing 26 53 46 5 10 8 31 63 54 Commerce 9 27 24 1 7 3 10 34 27 Tpt/Stor/Comms 7 22 10
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    • 79 10 BY CENTS CLOSE UP 52w high/low GLD US$ ***** 43.0 0.3 *****/***** DBXT S&P Short US$ 2218 25.0 0.8 2602/2160 Hyflux 6% CPS ***** 20.0 0.2 *****/***** Junma Tyre Cord 19.6 13.4 216.1 19.6/4.9 CityDev 1013 8.0 0.8 1118/907 BY PERCENTAGE CLOSE UP 52w high/low Junma Tyre Cord 19.6
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    • 73 10 BY CENTS CLOSE DOWN 52w high/low DBXT MSEurope US$ 5669 -320.5 -3.9 6492/5366 DBXT iBoxxSig SG$ ***** -172.0 -1.3 *****/***** Jardine C&C 4102 -161.0 -3.8 4901/3850 JSH USD 3470 -91.6 -1.9 3810/3227 JMH USD 6438 -86.0 -1.0 6788/5552 BY PERCENTAGE CLOSE DOWN 52w high/low CN9000MBePW*****0 0.7 -50.0 -0.7 15.6/0.6
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    • 86 10 VOL CLOSE($) CHANGE Junma Tyre Cord 145.0 0.196 +0.134 +216.13 Hiap Tong 247.0 0.138 -0.026 -15.85 Darco Water Tech 41,363.7 0.031 +0.007 +29.17 Renewable Energy 888.1 0.020 +0.004 +25.00 Global Tech 680.0 0.010 +0.001 +11.11 Yong Xin Intl^ 383.0 0.015 +0.001 +7.14 Moya Asia 48,560.1 0.051 +0.002 +4.08
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    • BROKERS’ TAKE
      • 117 10 Phillip Securities Research, Mar 11 POOR long-term performance does not mean that one should not invest in airlines. One should note that some airlines are exceptionally volatile with stocks routinely being multi-baggers or performing poorly, depending on when and what airline. Flag carriers MAS and Thai Airlines have
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      • 154 10 Buy Mar 11 close: S$0.315 Target price: S$0.39 DBS Group Research, Mar 11 LOAD factor (total passengers carried divided by total plane capacity) continues on an uptrend in February. It is up 4.3 percentage points to 78.9 per cent on a 8.5 per cent capacity cut and a
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      • 175 10  -  Compiled by Cai Haoxiang Hold Mar 11 close: s$3.97 Target price: S$4.38 CIMB Research, Mar 10 SINGAPORE Tourism Board reduced its forecast for foreign visitor arrivals and tourism receipts for 2015, citing competition from rival destinations. However, we think medical tourism has bottomed out in 2014. We
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    • 108 10 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 337 -2 336 339/336 349/305 336/337 IS ASIA HYG US$ US1044 100 -/-1119/1013 1043/1050 Nikko AM STI ETF 341 -2 73 343/341 422/311 341/343 8.2 IS MS India US$ US792 +2 59 794/780 1000/580
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    • 123 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 29,385 29,385 93,277 93,277 Manufacturing 144,107 31,865 175,972 98,770 1,949 100,719 Commerce 129,470 29,173 158,643 148,808 1,179 149,987 Tpt/Stor/Comms 119,210 892 120,102 188,435 72 188,507 Finance 26,055 526 26,581 175,270 124 175,394 Construction 19,799 20,616
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    • 395 11 CURRENCIES REUTERS London THE euro plumbed another 12-year low against the dollar on Wednesday, extending a broad decline since the European Central Bank kicked off its 1.1 trillion euro (S$ 1.6 trillion) as-set-buying programme at the start of the week. The ECB
      REUTERS  -  395 words
    • FOREX RATES
      • 471 11 Mar 11 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.965 4.762 0.712 5.900 47.708 100.373 0.922 8.574 2.815 1.048 77.352 33.714 1.055 9.370 0.761 24.065 24.964 0.504 0.760 Canada 1.037 4.936
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      • Article, Illustration
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      • 22 11 Mar 11 S$ Bid Offer 1-month 1.3886 1.3890 2-months 1.3901 1.3906 3-months 1.3919 1.3923 6-months 1.3941 1.3948 Source: OCBC
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      • 155 11 Mar 11 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0545 1.0554 0.7601 0.7607 Canadian dollar 1.0934 1.0938 0.7884 0.7881 Euro 1.4815 1.4820 1.0679 1.0682 NZ dollar 1.0061 1.0066 0.7252 0.7255 Sterling pound 2.0920 2.0926 1.5080 1.5083
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    • EQUITY BONDS WARRANTS FUTURES
      • 206 11 Mar 11 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left TIH Limited W*****9 0.3 -0.1 6895 1 228 26 DBS MB eCW*****0 9.8 -1.6 4879 0.2 1980 1 OCBC Bk MB eCW*****3 9.4 -0.9 4472 0.2 1050
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      • 373 11 In local curr In S$ In US$ dy yr dy yr dy yr Mar 10 Index Change Change Change Change Change Change World Preliminary 1313.9 -1.2 3.0 -0.8 5.2 -1.5 0.4 EAFE Preliminary 1065.2 -1.0 7.9 -1.1 6.7 -1.7 1.8 Europe Preliminary 1497.9 -1.3 8.4
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      • 368 11 Mar 11 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.87 *****.93 *****.52 Mar15 *****.00 *****.00 *****.00 *****.00 *****7 *****2 Jun15 *****.00 *****.00 *****.00 *****.00 *****1 *****6 MSCI TAIWAN INDEX FUTURES SPOT 349.90 354.04 349.83 Mar15 351.90 353.60 348.00 351.30 ***** *****7 Apr15 352.10
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    • BANK RATES
      • 154 11 Mar 11 $S Offer Bid 0vernight 0.10 0.07 1-month 0.8125 0.6875 2-months 0.8500 0.7500 3-months 0.9375 0.9000 Overnight mode: 0.07 US$ 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 0.60 0.40 9 months 0.70 0.50 12
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      • 36 11 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 1.***** Mar 11 SWAP Offer rates (S$) 1 mth 0.***** 3 mths 1.***** 6 mths 1.***** Source: Thomson Reuters
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      • 69 11 Mar 11 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.4 102.45 102.45 5-Year N*****0H 1.625 01-Oct-19 99.3 99.45 99.20 10-Year NY*****H 3.000 01-Sep-24 104.66 104.85 104.45 15-Year NY*****E 2.875 01-Jul-29 101.64 101.85 101.28 20-Year NZ*****V 3.375 01-Sep-33 106.86
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    • AGRI METALS ENERGY
      • 250 11 Mar-10 Price Net change change Last Trade Agricultural Mar-10 CBOT Soybeans (US cents/bu) 980.00 -8.25 -0.83% 13/03/2015 CBOT Soybean Oil (US cents/lb) 30.84 -0.04 -0.13% 13/03/2015 CBOT Wheat (US cents/bu) 496.50 2.25 0.46% 13/03/2014 Mar-10 LIFFE Cocoa (£/tonne) 1988.00 -30.00 -1.49% 16/03/2015 LIFFE Coffee (US$/tonne) 1831.00 -17.00 -0.92%
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  • Page 6 Advertisements
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  • Page 7 Advertisements
    • 140 7 -.A. r. —-j; I i* f.\j y»»« i«i. fe. sec rfg.' iui$ t c n ST' -f-. I i ?>'. -f *> :^Lm r. f CgH A V'Ti 'iS,' U:-. m JD 1 r i> >4* v ivf ,‘v;. “life ■JW-J-W -I'M ■■Ml •a, X, ►o% j jfa 7,'" >:
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  • Page 8 Advertisements
    • 181 8 ADMISSION ITSHOW 19 22 MARCH 2015 SUNTEC SINGAPORE LEVELS3,486 12-9PM TRADE-IN Trade-in your old faulty laptops, tablets or smartphones and get CASH VOUCHERS’ to spend at IT SHOW! 'Terms and conditions TECH SHOWCASE Hie ASUS Transformer Book Chi Series, the world’s slimmest 2-in-1 Windows detachables, with the ability to transform
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    • 298 8 BUDGET 2015 and SMEs impact and Possibilities Budget 2015 offers an opportunity for businesses to ride on the nation’s economic restructuring as it plans for the future. How can you make the best of it? Listen in and engage our experts as they discuss the implications and possibilities of the
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  • Page 8 Miscellaneous
    • 49 8 THE BROKER by low Chin yee SINCE VOUN5,1 ALWAYS WANTED TO 0E A STOCKBROKER DRIVING FAST CARS AND LIVING IN A BIG HOUSEI studied hard, passed ALL EXAMS AND I BECOME A STOCKBROKER. BUTT NEVER EXPECT OUR pav can be lower than THE LADYWHO CLEANS OUR TABLE EVERY MORNING.
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  • Page 12 Advertisements
    • 1437 12 |=?`+/%}`:%>$;&]$]:&[&""!';{[<" PCI LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number *****4482N) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN THAT an Extraordinary General Meeting of PCI LIMITED (the “Company”) will be held at The Board Room, 390 Jalan Ahmad Ibrahim, Singapore *****5, on 27 March 2015 at
      1,437 words

  • REAL ESTATE
    • 614 13 Price works out to S$2,618 psf based on floor area; buyer plans to operate its own F&B outlet on lower level Singapore A FREEHOLD standalone shophouse block along Sultan Gate in the Kampong Glam area has just been awarded for S$20.8
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    • 156 13 BLOOMBERG Dubai QATAR Airways bought the Sheraton Skyline Hotel at London Heathrow’s airport in a first foray into lodgings outside the Gulf, and said it’s planning to add further properties in the UK and North America. The deal follows a string of Qatari
      BLOOMBERG  -  156 words
    • 300 14 REUTERS Hong Kong CHINA’S property sales in the first two months of 2015 dropped by the most in three years amid a glut of housing supply, and real estate investment growth eased. Sales revenue dropped 15.8 per cent in the
      REUTERS  -  300 words
    • 704 14  -  Softness was widely expected and will likely persist this year, say property consultants By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore SOFTNESS persisted in the residential leasing market, with rents for both private non-landed homes and public housing flats still heading south
      PHOTO: ST FILE  -  704 words
    • 751 15 They should be screened for potential money-laundering risk: 17 non-profit groups NYT New York IN a broad show of support for increased scrutiny of foreign real estate buyers in the United States, 17 nonprofit organisations on Tuesday urged the Treasury Department
      NYT; PHOTO: TODD HEISLER/THE NEW YORK TIMES  -  751 words
    • 242 15 BLOOMBERG London THE growth of London’s technology industry, which has buoyed office landlords as banks cut staff, could be derailed by the city’s housing shortage, a Crown Estate executive said. “The dysfunctional housing supply in London is one of the biggest risks to
      BLOOMBERG  -  242 words
    • 651 16 House price distortions may arise as rates go below zero in battle to keep currency peg to euro, says minister SCANDINAVIA HOUSING MARKET BLOOMBERG Copenhagen DENMARK is monitoring its property market and is ready to act should the country’s efforts to
      BLOOMBERG  -  651 words
    • 1205 16 Property transactions for districts 1 to 28 with contract dates between Jan 28 and Feb 3,2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED Marina Bay Suites Apt 29/01/2015 99 2067 4450 2153 One Shenton Apt 03/02/2015 99
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    • 229 16 BLOOMBERG Oslo NORWAY’S biggest political group says the country’s housing market is heating up at too fast a pace for policy makers to ignore. The Labor Party wants the government to consider measures that will help Norway’s financial regulator stop a housing bubble
      BLOOMBERG  -  229 words
    • 556 16 BLOOMBERG Seattle SEATTLE’S Columbia Center, the curved black office tower that’s the city’s tallest building, is poised to go on the market as its owners seek to tap into robust demand for US real estate. Beacon Capital Partners, a Bos-ton-based private equity
      BLOOMBERG  -  556 words
  • Page 13 Advertisements
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  • Page 14 Advertisements
    • 592 14 TOKYO PROPERTY INVESTMENT SEMINAR By MR. KU SWEE YONG Buildings available from SCO 3 million Commercial available for sale loo. Special Property Highlight: Residence Tokyo Kachidoki Brand new building 3-min walk Kachidoki station Walking distance to Olympics Village Fully furnished Total 8 units with master lease Free maintenance EXHIBITION 14th
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    • 71 14 For the 1sttime, fully fitted clinics for lease (limited period only) Flexible clinic sizes ranging from 700 to 1500 square feet For an exclusive viewing, please contact our leasing team 6434 9808 audrey.seen@plpl.com.sg 6434 9832 keith.koh@plpl.com.sg One Orchard Boulevard camden.com.sg $1.50psf $350psf ONWARDS PAYA UBI INDUSTRIAL PARK LEASE SALE 200
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    • 71 14 EXCELLENTOPPORTUNITY LOYANG INDUSTRIAL ESTATE 2-storey high ceiling production with ancillary offices Land Area approx. 48,531.2 sqft Gross Floor Area approx. 22,034.6 sqft Lease Tenure 30+25 from 16 October 1998 2014 Master Plan Business 2, Plot Ratio 2.5 EOI Closing Date: 26 March 2015 (Thu), 3pm For further information and viewings,
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  • Page 15 Advertisements
    • 167 15 Nominate an outstanding designer or design PRESIDENT'S DESIGN AWARD SINGAPORE 2015 Presented By Urban Redevelopment Authority CALL FOR NOMINATIONS NOW OPEN Over the past nine years, 33 designers and 76 designs have received Singapore’s most prestigious design award. This year, who will join this distinguished list? Put in your nomination
      167 words
    • 148 15 :`:~,**]-.^/^<"-`^:]?"^`]\"?"@> Steinway Gallery Singapore P.if 3 a Steinway becomes a Cherished Member of The Family. Built To Last For Generations Having a Steinway enables a family to mature in music together, from the first tentative scales to the confidence that comes with time and practice. A Steinway epitomizes joy in
      148 words


  • BANKING & FINANCE
  • Page 17 Advertisements
    • 521 17 The Business Times NOTICES THE COMPANIES ACT (CAP. 50) CHIN HWA HIN TRADING PTE LTD COMPANY REG. NO: *****3045M (MEMBERS’ VOLUNTARY WINDING UP) At an Extraordinary General Meeting of the Members of CHIN HWA HIN TRADING PTE LTD duly convened and held at 701 Geylang Road #04-04 Teambuild Centre Singapore
      521 words
    • 517 17 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF HEXAGROUP PRIVATE LIMITED (IN CREDITORS’ VOLUNTARY LIQUIDATION) CO. REG. NO. **********K Extract of the minutes at the Extraordinary General Meeting of members of HEXAGROUP PRVIATE LIMITED convened and held at 30 Shaw Road, #05-03 Roche Building
      517 words

  • ENERGY & COMMODITIES
    • 873 18 All oil majors face negative cashflow but Chevron, Total and BP will have to borrow more to stay afloat: Moody’s REUTERS London THE world’s two biggest oil firms, Exxon Mobil Corp and Royal Dutch Shell, may withstand the oil price collapse better
      REUTERS  -  873 words
    • 874 18  -  How the market responds to new supply coming from Australia and the US will be a key factor to watch in the coming year, it says By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore THE liquefied natural gas (LNG) market is headed for
      Source: BG Group; Source: BG Group, Platts, Heren, Petroleum Association of Japan and Bloomberg  -  874 words
    • 820 18 AFP Sydney AUSTRALIAN miners are bracing for a tough year with economic powerhouse China cutting its growth target to a 15-year low, reinforcing a gloomy outlook for commodity prices that is hurting smaller players. The price of iron
      AFP  -  820 words
  • Page 18 Advertisements
    • 87 18 Myanmar: Myanmar Civil Aviation Development Conference 2015 23 26 March 2015 Sedona Hotel Yangon www.mcadc.sphereconferences.com V /WlSu Greater Heights The only strategic conference where airports, airlines and stakeholders convene to define the future of Myanmar’s aviation sector. Organiser: Patron: Official Host: sphere SINGAPORE PRESS HOLDINGS Department of Civil Aviation. Myanmar
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    • 57 18 The Premier Platform for Gifts Sourcing ilSGPFair Singapore Gifts Premiums Fair 2015 29-31 JULY 2015 Marina Bay Sands Expo Convention Centre, Singapore www.SGPFair.com EXHIBIT PROFILE Embroidery Machines Services Imprinting Machines Services Etc. Interested to exhibit? Tel: (65) 6848 5938 Email: SGPFair@bizlink.com.sg Organised By: BIZLINK Exhibition Services Pte Ltd A SUBSIDIARY
      57 words

  • TECHNOLOGY
    • 992 19 But drive against graft could discourage conspicuous consumption, dampen luxury watch sales in huge market BLOOMBERG Beijing APPLE Inc jumped to the top of the Chinese market by adapting the iPhone to local tastes. It’s using the same recipe with the Apple Watch. The new
      BLOOMBERG; PHOTO: BLOOMBERG  -  992 words
    • 851 19 Bloomberg Zurich APPLE Inc may soon sell as many timepieces as all of Switzerland, threatening the country’s four-century-old industry, the co-inventor of the Swatch predicted. The Apple Watch may reach sales of 20 million to 30 million units annually in the
      Bloomberg  -  851 words
  • Page 19 Advertisements
    • 1577 19 ELEKTROMOTIVE GROUP LIMITED (Incorporated in Singapore) (Company Registration Number *****7135Z) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (“EGM”) of Elektromotive Group Limited (the “Company”) will be convened on 27 March 2015 at 11.00 a.m. at The National University of Singapore Society (NUSS), Suntec
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  • CONSUMER
  • Page 20 Advertisements
    • 44 20 BuildTech Yangon 2015 Myanmar's Leading Building Technology and Supply Event 27 -29 May 2015 Myanmar Convention Centre Yangon, Myanmar TRANSFORM i AE 3PT A S' PRE-REGISTER NOW at www.btyangon.com Organised by: sphere A SUBSIDIARYOF Sfh To Exhibit, call +65 6319 4037 or email btyangon@sph.com.sg
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    • 66 20 H O T PR O PERTY D'LEEDON 2RM $3.XK! High flr. Quiet. Unblock. P/furn. Very spacious. MRT schs. ARDMORE 3. 3 BDRM 1786sf Just TOP. Pte lift. P/furn. Open kitchen. Balcony w pool view $12K MARBELLA 3+ STUDY. 1528 sf. Well reno. Furn. F/airc-on. Near MRT/ amenities. Immed. LOOKING FOR
      66 words

  • TRANSPORT
    • 739 21 They help you from choosing the best cruise to keeping track of your expenses and learning about the fish in the sea and the stars above you NYT New York ANYONE planning a cruise these days quickly learns that major lines such as Disney,
      NYT; PHOTO: ROYAL CARIBBEAN CRUISES  -  739 words
    • 421 21 REUTERS Phoenix AIRCRAFT leasing companies are encouraging Boeing to build a jet to replace its discontinued 757, but stress that the priority of all planemakers must be to deliver on existing orders for bread-and-butter models after a series of delays. Steven Udvar-Hazy,
      REUTERS  -  421 words
    • 683 21 BLOOMBERG Manila THE Philippines will offer tax breaks to as many as three carmakers as one of Asia’s fastest-growing economies aims to become a regional production hub. President Benigno Aquino is set to issue an order implementing the Comprehensive Automotive Resurgence Strategy programme,
      BLOOMBERG  -  683 words
    • 383 21 REUTERS Seoul A FLIGHT attendant at the centre of a “nut rage” case that resulted in the daughter of the Korean Air Lines chairman being sentenced to jail has filed a civil lawsuit against her in New York, the
      REUTERS; PHOTO: REUTERS  -  383 words
    • 238 21 REUTERS Hong Kong SHANGHAI International Airport Co Ltd, China’s biggest airport operator by market value, posted a slower growth in net profit in 2014 and cited global economic uncertainty as a major challenge this year. The airport operator, which has a market
      REUTERS  -  238 words
  • Page 21 Advertisements
    • 48 21 SPICES IN MY KITCHEN North, south, east or west, Indians from every region have something special to add flavour to their food Indians in Singapore on the BBC rape film ban GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL SHAN (*****861) KALWANT (*****327) NISHAL (*****438)
      48 words
    • 62 21 19-22 March 2015 SUNTEC Singapore, Levels 3, 4 6 12-9pm fb.com/ComexITShow itshow.sg itshow.sg f fb.com/ComexlTShow Sell your tech products services at Singapore’s LARGEST I.T., digital, mobile consumer electronics exhibition! Call *****620 or email to sales@exhibitsinc.com.sg Book Your Space NOW! *Limited Booths Available ORGANISED BY: Organiser of IT SHOW, Food and
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  • GOVERNMENT & ECONOMY
    • 704 22 Investment, retail sales and factory output all missed forecasts in January, February and fell to multi-year lows REUTERS Beijing GROWTH in China’s investment, retail sales and factory output all missed forecasts in January and February and fell to multi-year lows, leaving investors with
      REUTERS; PHOTO: AFP  -  704 words
    • 602 22  -  By Anthony Rowley btworld@sph.com.sg Tokyo INDIA’S economy should grow by a robust 7.2 per cent in the current fiscal year under the impetus of “firm policy actions” taken by Prime Minister Narendra Modi’s government and thanks to lower
      602 words
    • 554 22 AFP REUTERS Athens IN A rare piece of good news for Greek leaders, the European Stability Mechanism (ESM) confirmed on Tuesday that it has been forced to throw the cash-strapped country a half-bil-lion-euro lifeline. After a week in which
      AFP; REUTERS  -  554 words
    • 639 22 BLOOMBERG Frankfurt MARIO Draghi said that the European Central Bank’s expanded asset purchases will succeed in pushing inflation in the euro area back towards its goal. “We can deploy and we will deploy monetary policy in a way that can and will stabilise
      BLOOMBERG; PHOTO: REUTERS  -  639 words
    • 320 22 BLOOMBERG Bangkok THAILAND unexpectedly cut its key interest rate for the first time in a year, joining a wave of global monetary easing as the central bank cited weakening growth prospects and risks from China’s slowdown. Stocks rose and the baht
      BLOOMBERG  -  320 words
    • 1042 23 Messy politics and staggering economies are prompting some investors to reassess their investment rationale NYT New York IN Russia, it’s assassinations and war. In Brazil, a corruption scandal may derail the economy. And in Turkey, the president is attacking the country’s senior central
      NYT  -  1,042 words
    • 446 23 REUTERS Tokyo JAPAN’S core machinery orders fell 1.7 per cent in January from the previous month, underscoring the challenges facing the government as it attempts to nudge firms into boosting spending on wages and equipment with its aggressive stimulus policies. Nonetheless, emerging signs
      REUTERS; PHOTO: REUTERS  -  446 words

  • Page 23 Advertisements
    • 631 23 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
      631 words

  • OPINION
    • 589 24 EDITORIAL SOME People’s Action Party (PAP) Members of Parliament spoke out on Tuesday in the Budget debate, cautioning the government against overdoing property market cooling measures. A few things are worth pointing out in this regard. First, one
      589 words
    • 711 24  -  THE BOTTOM LINE By Robert J Samuelson THE WASHINGTON POST WRITERS GROUP AS A young reporter in the 1970s, I covered the Interstate Commerce Commission (ICC). Created in 1887, the ICC regulated the nation’s railroads and sought to protect the public against abusive freight
      THE WASHINGTON POST WRITERS GROUP  -  711 words
    • 1372 24  -  The January summit which acquired a national dimension attracted 25,000 participants with 21,304 MOUs valued at 25 trillion rupees getting signed. BY ASIT K BISWAS BY ASIT K BISWAS T The writer is Distinguished Visiting Professor at the Lee Kuan Yew School of
      PHOTO: AFP  -  1,372 words
    • 824 25  -  COMMENTARY By John Alty T The writer is chief executive of the UK Intellectual Property Office THIS week, I am in South-east Asia to build on the strong economic and trade ties between the UK and Asean. It seems fitting that during
      824 words
    • 729 25  -  By Vinod Thomas T The writer is director-general of independent evaluation at the Asian Development Bank TRADE finance is the lifeblood of international trade which has powered Asia’s economic growth over the past decades. The availability of trade finance fell
      729 words
    • 1106 25  -  As Asian firms search for “global” managers to expand operations overseas, they should consider those who grew up abroad who surely are well attuned to cross-culture ventures. BY FRANK JURGEN RICHTER BY FRANK JURGEN RICHTER T The writer is founder and chairman
      PHOTO: REUTERS  -  1,106 words


  • 1009 26 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville MOL Cosmos 039E 21 Mar 02 Apr 18 Apr 24 Aug 27 Apr 29 Apr 02 May 03 May 08 May 11 May 11
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  • Page 26 Advertisements
    • 203 26 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business times Shipping times Experienced $h;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 Announce Your Corporate Development Come
      203 words

  • LIFE & CULTURE
    • 525 27  -  The 3 EPL teams and a Singapore Select XI side will slug it out for the Barclays Asia Trophy prize By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore ARSENAL, the English football team that knocked Manchester United out of the FA Cup on
      PHOTO: REUTERS  -  525 words
    • 625 27 Lagerfeld Chanel bring fantasy Paris to life at fashion week AFP Paris PARIS, according to lore and legend, is a city predominantly inhabited by elegant women, chic cafes and famous faces. Visitors, of course, find the reality more down-to-earth. The French capital can sometimes seem more heavily touristed, surly and
      AFP; PHOTO: REUTERS  -  625 words
    • 774 27 NYT New York FREI OTTO, an architect and engineer known for creating dazzling tensile structures that inspired generations of architects to dangle roofs from poles and cables, died on Monday in Germany, weeks before he was to be named the recipient of
      NYT; PHOTOS: AFP  -  774 words
  • Page 27 Miscellaneous
    • 316 27 CRYPTIC CROSSWORD Across 1 Special band for the match (7,4) 9 Accounts for all members of the family (9) 10 Humble sailor confronts rough sea (5) 11 Broken hearts leads to lovers’ converse (6) 12 Sure to be a song by drunk (8) 13 Pack up quietly and clear out
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  • Page 28 Advertisements
    • 164 28 uo O O ~TJ ZT o ro X ,,'v I ox X-- 2015 Apple Inc. All rights reserved. -—I tZZ ■ZS r/. acccsa'^na■,<®x\x';\xv\\\\\\\\Vv\%\\\\\\\\a\\\\ V\\.\\\\\\ u\ 1 1 1 1 1! 11 m n n yyj/////////y///////////////////®®Av>^ 1 1 e ‘f=. X X V \WwV\\\W\Xmnuiiiiiiiiii7iri/ mi I iiiiiitTli//f///////////////f/'///, x wwWVUiinn tlTH wwwuniiliiiiiiiiin
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