The Business Times, 18 March 2015

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Microfilm: NL33431
Total Pages: 28
1 28 The Business Times
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  • Title Section
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    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 Wednesday, March 18,2015
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  • DAILY DIGEST
    • Article
      Lock icon Singapore Airlines
      24 1 has confirmed that it is in talks to potentially acquire a stake in South Korea-based budget carrier Jeju Air. top stories 2
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    • Article
      Lock icon US housing starts
      24 1 plunged to their lowest level in a year in February likely as harsh weather kept building crews at home.TOP STORIES 2
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    • Article
      Lock icon Sales of Mercedes-Benz
      20 1 have raced ahead in the new year, chased by a pack of mass-market Japanese makes.TOP STORIES 4
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    • Article, Illustration
      Lock icon The entry of flymojo
      19 1 is set to heat up the battle for air passengers in Malaysia. TOP STORIES 5
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    • Article
      Lock icon ST Telemedia has
      20 1 completed the acquisition of land to develop a state-of-the-art flagship data centre in Singapore. COMPANIES MARKETS 6
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    • Article
      Lock icon Malaysia's decision
      25 1 to press ahead with its first US dollar sukuk since 2011 reflects investor appetite for yields at an eight-month high. BANKING FINANCE 14
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    • Article
      Lock icon Apple Inc’s TV service
      24 1 may soon become a reality as it is in talks with programmers to offer a slimmed-down bundle of networks.TECHNOLOGY 16
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    • Article
      Lock icon Germany, France and Italy
      34 1 said on Tuesday that they had agreed to join a new China-led Asian investment bank after close ally Britain defied US pressure to become a founder member. GOVT ECONOMY 18
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  • Article, Illustration
    Lock icon NODX in sharp 9.7 per cent year-on-year fall in February
    816 1  -  This is the steepest plunge in 2 years and comes after 3 straight months of growth; economists say exports are patchy, Q1 GDP growth weak By Chuang Peck Ming peckming@sph.com.sg Singapore Singapore NON-OIL domestic exports (NODX) fell an unexpectedly sharp
    Source: IE Singapore; PHOTO: AFP  -  816 words
  • Article
    Lock icon MAS, CAD to jointly investigate market misconduct
    500 1  -  Decision to pursue civil or criminal action to be decided after probe is concluded By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore TIES between the Singapore police and the nation’s financial regulators are set to become closer, with a new framework to merge investigations of
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  • Article
    Lock icon MARKETS
    27 1 Tuesday Change STI 3,369.95 -6.09 KL COMP 1,787.87 +7.33 NIKKEI 225 19,437.00 +190.94 HANG SENG 23,901.49 -48.06 SHENZHEN B 1,123.59 +2.35 DOW (11am EST) 17,802.20 -175.22
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      16 1 Hill 8 '*****1 *****4 PRESIDENTIAL CANDIDATES Clinton vs Bush race no more a certainty OPINION 20
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      24 1 MONEY MATTERS When negative yields are fine EXECUTIVE MONEY 28 BUSINESS TRUSTS YTD total returns average 5.4%, ahead of Reits’ 2.8% COMPANIES MARKETS 7
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      63 1 DORMITORY SALE Pamfleet buys Homestay Lodge for tad over S$127m REAL ESTATE 13 AWARENESS OF SUSTAINABILITY IS GROWING. BUT WHICH BRANCHES WILL FLOURISH MOST? >> Discover our approach at juliusbaer.com/visionary-thinking Julius Baer is the leading Swiss private banking group and present in some 50 locations worldwide. From Dubai, Frankfurt, Geneva,
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  • TOP STORIES
    • Article, Illustration
      Lock icon SIA confirms talks on taking Korean budget carrier stake
      687 2  -  Reports say discussions with Jeju Air and parent Aekyung began late last year and the share could be around 20% By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT @Nisha_BT Singapore SINGAPORE Airlines (SIA) has confirmed that it is in talks to potentially acquire a
      PHOTO: BLOOMBERG  -  687 words
    • Article
      Lock icon Lee Kuan Yew’s condition ‘worsens’ due to infection
      283 2  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE health of Singapore’s founding prime minister Lee Kuan Yew has taken a turn for the worse. In a brief statement on Tuesday, the Prime Minister’s Office (PMO) said that the 91-year-old’s condition has “worsened” due
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    • Article
      Lock icon February housing starts down at year’s low
      390 2 LATEST US DATA REUTERS Washington US housing starts plunged to their lowest level in a year in February likely as harsh weather kept building crews at home, in the latest indication that the economy hit a soft patch in the first quarter. Groundbreaking
      REUTERS  -  390 words
    • Article
      Lock icon Correction
      44 2 IN “Oilfield services sector set for a consolidation: EY” (BT, March 17), we wrongly reported in an accompanying table that Swissco Holdings’ revenue for its most recent financial year was S$65.5 million. It should be US$65.5 million. We are sorry for the error.
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    • Article, Illustration
      Lock icon Post-Budget poll: a REACH too low?
      768 4  -  COMMENTARY By Kelly Tay kellytay@sph.com.sg @KellyTayBT “MORE than 7 in 10 Singaporeans supported Budget 2015 initiatives,” began a REACH media release on Tuesday, which outlined key findings of the national feedback unit’s post-Budget telephone poll. With close to a thousand citizens surveyed, the poll
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    • Article
      Lock icon Mercedes, Japanese brands race ahead in 2015
      527 4  -  By Samuel Ee samuelee@sph.com.sg Singapore SALES of luxury marque Mer-cedes-Benz have raced ahead in the new year, chased by a pack of mass-market Japanese makes. It had taken an early lead in January and then held on to it last month to become
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    • Article, Illustration
      Lock icon Al-Futtaim plans bold changes for Robinsons, Marks & Spencer stores
      1146 4  - Al-Futtaim plans bold changes for Robinsons, Marks Spencer stores Group’s Asia head talks about biting the bullet through some of the toughest times for retail here, and fresh plans to embrace e-commerce By Debbie Yong debyong@sph.com.sg @DebbieYongBT Singapore NOT since the 1997 Asian financial crisis has Kesri Kapur seen such
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    • Article, Illustration
      Lock icon Can new carrier bring mojo back to M’sia aviation?
      637 5  -  COMMENTARY By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT UPSTART firms rarely evoke confidence, particularly in the aviation scene that’s bursting with competition from established players and riddled with overcapacity. So it is with deep scepticism that observers greet the news of the emergence
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    • Article, Illustration
      Lock icon New Malaysian airline flymojo to operate from Senai by October
      622 5  -  Capitalised at RM3 million, the airline is privately held and fully-owned by Malaysians and backed by private equity By Pauline Ng btworld@sph.com.sg Kuala Lumpur THE battle for air passengers in Malaysia is set to heat up with the entry of
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      324 2 PRESTIGIOUS WEALTH MANAGEMENT WITH GREATER TIME COMES APPRECIATION. An exclusive invitation to those who understand that patience unlocks value. Enjoy exceptional rates and a complete suite of wealth management solutions customised to your ambitions. Apply today and reap the rewards of a lasting relationship, along with a welcome gift of
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      306 4 ADMISSION ITSHOW 19-22 MARCH 2015 SUNTEC SINGAPORE L3.11AM-9PMDAILY L4&L6,12-9PM DAILY AUCTION TIME BRAND TIME FASHION TIME TECH SHOWCASE ASUS Transformer Book Chi Series Bid for your favourite products at our Daily Auctions at 5pm! Spend a minimum of $100 to get your Bidding Ticket at the entrance of Hall 604,
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      0 5 "[:.'{\)-$>)$\;:$|%;>*?^<.\*_@=
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      141 5 CONGRATULATIONS TO EQUINIX ON THE GRAND OPENING OF YOUR NEW DATA CENTRE SG3 y h s- 3 r PS W 1 ANOTHER BUILD-TO-SUIT PROJECT BY mapletree industrial About Build-to-Suit Solutions Mapletree Industrial Trust provides Build-to-Suit solutions to companies who prefer customised industrial facilities without the hassle, uncertainties and the significant
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  • COMPANIES & MARKETS
    • Article
      Lock icon ST Telemedia expands data centre footprint
      728 6  -  It has completed acquisition of land to develop state-of-the-art flagship DC in Singapore By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore SINGAPORE Technologies Telemedia (ST Telemedia) has completed the acquisition of land to develop a state-of-the-art flagship data centre (DC) in Singapore. This will be
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    • Article
      Lock icon Noble’s bonds trade ‘as if downgraded’
      583 6 BLOOMBERG Singapore NOBLE Group, Asia’s biggest commodities house, is being punished by traders as it faces record bond maturities and closer scrutiny of earnings amid a global resources rout. US dollar-denominated notes of the company, which has the lowest investment grade scores from the
      BLOOMBERG  -  583 words
    • Article
      Lock icon ANZ sells S$500m Basel 3 bonds
      295 6  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore AUSTRALIA and New Zealand Banking Group Limited has sold S$500 million Basel 3 Tier 2 bonds. This is the first Basel 3 compliant T2 SGD bond for an Australian bank, said Clifford Lee, DBS Bank head of
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    • Article
      Lock icon Business trusts’ YTD total returns average 5.4%, ahead of Reits’ 2.8%
      523 7  -  Five best performing include First Ship Lease Trust, Ascendas India Trust and Asian Pay Television Trust By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT Singapore BUSINESS trusts listed on the Singapore Exchange (SGX) have achieved an average total return of 5.4
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    • Article
      Lock icon Rowsley sells S$100m bonds with 6.5% coupon
      294 7  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore ROWSLEY Ltd, a mainboard-listed company controlled by Singapore billionaire Peter Lim, has tapped the bond market for the first time with a three-year deal. The debut issue saw three-year bonds sold on Tuesday at a coupon
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    • IN BRIEF
      • Article
        Lock icon Keppel Corp now owns 86.2% of Keppel Land
        84 7 KEPPEL Corp’s stake in Keppel Land has grown to 86.2 per cent as at 5pm on Tuesday, up from 85.9 per cent on Monday evening, the company said in a Singapore Exchange filing. Keppel Corp needs to own more than 90 per
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      • Article
        Lock icon Olam International issues A$125m notes
        80 7 OLAM international on Tuesday issued A$125 million 5-year senior unsecured notes due in 2020, under its US$5 billion euro medium term note programme, established on July 6, 2012 and updated on July 14, 2014. The notes were issued at 99.835 per cent of the principal
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    • Article, Illustration
      Lock icon STI / Catalist
      60 8 STI Catalist Straits Times Index March 17,2015 3,369.95 -6.09 (-0.18%) Current streak 1 day Day high 3,397.93 Day low 3,366.57 52-week high 3,444.57 (Feb 11,2015) 52-week low 3,057.20 (Mar 20, 2014) FTSE ST Catalist index March 17,2015 668.48 -4.48 (-0.67%) Current streak 5 days Day high 673.89 Day low 668.48
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    • Article, Illustration
      Lock icon A bounce, then weakness sets in
      662 8  -  Unlike in previous sessions where the index was dragged lower by a handful of stocks, Tuesday’s fall was broad-based STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THE Straits Times Index on Tuesday initially bounced up 20 points in response to Wall Street’s Monday rally, but
      Source: Bloomberg  -  662 words
    • Article
      Lock icon STI STOCKS
      320 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 247 -2 250/245 263 213 5.8 6245 CapitaLand 350 +1 352/346 371 268 12.8 2.6 *****.3 CapitaMall Trust 212 unch 216/211 226 186.5 5.1 7354.3 CityDev 1005 cd -7 1015/1003 1118 907
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    • Article
      Lock icon MOST ACTIVE
      34 8 VOLUME Ellipsiz 92,714,100 Noble 54,215,000 Moya Asia 50,160,600 IHC 49,264,200 Golden Agri-Res 49,034,800 Market volume 1,564,923,000 VALUE DBS Grp 86,642,693 SingTel 69,712,169 UOB 50,169,630 Noble 49,669,133 HongkongLand USD 43,484,982 Market value 1,169,671,000
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    • Article
      Lock icon SGX ETFs Most Active
      107 8 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap UETF SSE50China 241 +5 234 241/237 241/140 241/242 75.3 STI ETF 336 -2 146 338/336 349/307 335/336 DBXT MSRussia US$ US183 +2 140 184/183 302/140 184/185 IS MS India US$ US788 80 796/786 1000/605 786/788 98.5
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Mar 17 VALUE CLOSE BT OB/OS -667.00 -64.00 BT CADI -*****.00 -115.00 BT 10-day MA -*****.00 -66.00 FTSE ST Mid Cap 768.34 -3.09 FTSE ST Small Cap 474.94 -1.70 FTSE ST All Share 807.65 -1.84 FTSE ST China Top 189.59 -1.07 FTSE ST China 231.66 -2.00 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      34 8 STI FTSE ST All-Share ftse ST All-Share index March 17,2015 807.65 -1.84 (-0.23%) Current streak 1 day Day high 813.79 Day low 807.37 52-week high 827.11 (Feb 11,2015) 52-week low 745.24 (Mar 20, 2014)
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      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE index March 16,2015 1,832.50 +16.66 (+0.92%) Current streak 1 day Day high 1,836.92 Day low 1,810.88 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 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 2 10 3 0 0 0 2 10 3 Manufacturing 40 57 33 5 14 10 45 71 43 Commerce 17 23 24 1 6 3 18 29 27 Tpt/Stor/Comms 10 24 8
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 16,324 16,324 62,424 62,424 Manufacturing 213,438 27,772 241,210 117,604 1,423 119,027 Commerce 108,668 25,234 133,902 107,576 998 108,574 Tpt/Stor/Comms 126,251 361 126,612 192,457 26 192,482 Finance 20,361 65 20,426 199,985 12 199,997 Construction 61,577 36,472
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    • Article
      Lock icon GAINERS
      75 8 BY CENTS CLOSE UP 52w high/low DBXT MSKorea US$ 5718 155.5 2.0 6735/5484 JMH USD 6335 144.4 1.7 6788/5552 DBXT iBoxxUSTr US$ ***** 123.5 0.4 *****/***** DBXT MSJAP US$ 4979 104.1 1.5 4980/4260 DBXT Nifty US$ ***** 90.2 0.5 *****/***** BY PERCENTAGE CLOSE UP 52w high/low Infinio 0.3 50.0
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    • Article
      Lock icon LOSERS
      76 8 BY CENTS CLOSE DOWN 52w high/low DBXT iBoxxSvEu US$ *****-1949.0 -5.5 *****/***** DBXT DBCDJUBS US$ 2210 -95.8 -3.0 3096/2210 GLD US$ ***** -88.8 -0.6 *****/***** DBXT MSTaiwa US$ 2220 -59.7 -1.9 2322/1937 Lyxor EM Mkt US$ 985 -56.9 -4.0 1136/963 BY PERCENTAGE CLOSE DOWN 52w high/low China Oilfield 0.2
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    • Article
      Lock icon UNUSUAL ACTIVITY
      78 8 VOL CLOSE($) CHANGE Jackspeed 1,021.0 0.074 +0.008 +12.12 Advanced Systems 2,427.2 0.004 +0.001 +33.33 L-Jacoberg 437.1 0.030 +0.005 +20.00 China Flexpack 528.0 0.012 -0.004 -25.00 Next-Gen Sat 6,900.0 0.003 +0.001 +50.00 Pavillon 282.0 0.061 -0.007 -10.29 SinoConstruction 33,414.3 0.040 +0.011 +37.93 LH 1,700.1 0.002 -0.001 -33.33 Ellipsiz 92,714.1
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    • BROKERS’ TAKE
      • Article
        Lock icon Tiger Airways
        159 8 Sell Close: S$0.325 Target price: S$0.29 OCBC Investment Research March 17 TIGER Airways (Tigerair) showed strong discipline in capacity management as it reported a 4.3 percentage point year-on-year increase in its February 2015 passenger load factor (PLF) to 78.9 per cent. It was the eighth consecutive month Tigerair
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      • Article
        Lock icon Soilbuild Business Space Reit | Buy
        341 8  - Soilbuild Business Space Reit Buy Compiled by Claire Huang Reit Buy Close: S$0.80 Target price: S$0.92 DBS Equity Research March 17 ACQUIRES 72 Loyang Way: Soilbuild Reit (SBREIT) announced its conditional sale and purchase agreement with Technics Offshore Engineering Pte Ltd for the acquisition of 72 Loyang Way for S$97
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    • Article
      Lock icon Euro gains against dollar for second straight day
      416 9 CURRENCIES REUTERS London THE euro rose for a second day against the dollar on Tuesday as investors awaited the start of a two-day US Federal Reserve policy meeting that will test expectations of a mid-2015 rise in US interest rates. The single
      REUTERS  -  416 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Mar 17 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.977 4.787 0.722 5.945 48.029 100.977 0.929 8.630 2.829 1.035 77.876 34.112 1.063 9.464 0.769 24.198 25.184 0.517 0.766 Canada 1.023 4.898
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        Lock icon HANG SENG
        2 9
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 9
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      • Article, Illustration
        Lock icon NIKKEI
        1 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 Mar 17 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0624 1.0640 0.7654 0.7660 Canadian dollar 1.0873 1.0884 0.7836 0.7833 Euro 1.4727 1.4741 1.0610 1.0613 NZ dollar 1.0266 1.0277 0.7396 0.7399 Sterling pound 2.0572 2.0589 1.4821 1.4823
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Mar 17 S$ Bid Offer 1-month 1.3891 1.3904 2-months 1.3901 1.3915 3-months 1.3917 1.3931 6-months 1.3928 1.3943 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        359 9 Mar 17 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.89 *****.89 *****.39 Jun15 *****.00 *****.00 *****.00 *****.00 ***** *****1 Sep15 *****.00 8 112 MSCI TAIWAN INDEX FUTURES SPOT 352.92 355.88 352.60 Mar15 352.40 356.80 352.20 353.30 ***** *****3 Apr15 352.80 357.10 352.80 353.40
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES Most active
        206 9 Mar 17 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Metech Int W*****7 0.1 unch ***** 1 2 3 DBS MB eCW*****0 10.3 0.5 9276 0.2 1980 1 UOB MB eCW*****1 11 -0.9 4562 0.1 2380 4
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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 Mar 16 Index Change Change Change Change Change Change World Preliminary 1334.5 0.9 4.6 0.9 6.5 1.0 1.6 EAFE Preliminary 1089.4 0.7 10.4 0.8 8.3 0.9 3.2 Europe Preliminary 1540.6 1.1 11.5
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 Mar 17 $S Offer Bid 0vernight 0.05 Par 1-month 0.8125 0.6875 2-months 0.8500 0.7500 3-months 1.0000 0.9300 Overnight mode: 0.25 US$ 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 0.60 0.40 9 months 0.70 0.50 12
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      • Article
        Lock icon SIBOR
        36 9 Mar 17 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 1.***** SWAP Offer rates (S$) 1 mth 0.***** 3 mths 1.***** 6 mths 1.***** Source: Thomson Reuters
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        Lock icon GOVERNMENT SECURITIES
        63 9 Mar 17 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.39 5-Year N*****0H 1.625 01-Oct-19 99.36 99.55 99.55 10-Year NY*****H 3.000 01-Sep-24 104.65 104.80 104.54 15-Year NY*****E 2.875 01-Jul-29 101.74 101.70 101.70 20-Year NZ*****V 3.375 01-Sep-33 107.09 30-Year NA*****N
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 9 Mar-16 Price Net change change Last Trade Agricultural Mar-16 CBOT Soybeans (US cents/bu) 969.25 -4.75 -0.49% 14/05/2015 CBOT Soybean Oil (US cents/lb) 30.39 -0.10 -0.33% 14/05/2015 CBOT Wheat (US cents/bu) 514.00 12.00 2.39% 14/05/2014 Mar-16 LIFFE Cocoa (£/tonne) 1977.00 -14.00 -0.70% 16/03/2015 LIFFE Coffee (US$/tonne) 1739.00 53.00 3.14%
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    • Article
      Lock icon Online account opening for SMEs
      317 10  -  DBS Bank’s first-of-its-kind service allows SMEs to open business accounts virtually By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore SMALL and medium-sized enterprises (SMEs) looking to bank with DBS Bank can now open business accounts virtually, in a first-of-its-kind service in Singapore aimed at bringing greater convenience.
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    • Article
      Lock icon World’s largest ‘diamond greenhouse’ opens in Singapore
      202 10  -  By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT Singapore DIAMOND manufacturer IIa Technologies opened what it says is the world’s largest “diamond greenhouse” in Singapore on Tuesday, an investment that is expected to create new research opportunities into the use of diamonds for tech- nology
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    • Article
      Lock icon Samsonite posts 5.8% higher FY2014 profit
      302 10  -  By Prisca Ang prisang@sph.com.sg Singapore TRAVEL luggage maker Samsonite International has posted a 5.8 per cent rise in full-year net profit attributable to shareholders of the group. The Hong-Kong listed group recorded a net profit of US$186.3million for the full year ended Dec 31,
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    • Article
      Lock icon TCS expands presence in Singapore
      241 10  -  By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore TATA Consultancy Services, one of the world’s leading IT services, consulting and business solutions organisations, on Tuesday announced that it has expanded its presence in Singapore with the opening of the new 1,000-per-son TCS Singapore Banking and Financial
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    • Article
      Lock icon It’s ‘Game on’ for local game developer
      334 10  -  By Prisca Ang prisang@sph.com.sg Singapore SINGAPORE game developer Daylight Studios has raised S$975, 000 to develop a new simulation game and mobile game publisher. The funds were raised from venture capitalists and angel investors, including Raffles Venture, early Razer investor Koh Boon Hwee,
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      351 6 V (P tyrexpo Asia 2015 24 26 March 2015 Singapore EXPO Hall 1 2 www.tyrexposeries.com/asia Counting Down to Tyrexpo Asia 2015 Are You Ready? Your One-Stop Business Platform for Tyres, Workshop Equipment Accessories in Asia Afti ARMOUR w Workshop Equipment Tyre Accessories Zone hub for buyers and sellers from the
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      309 7 AccountServe A Stone Forest Company Globally Connected RSM International Need Help with XBRL Reporting? iu rc turnaround c.** nra tjme Over reports since 8,000 Nov 2007 *Terms conditions apply www.AccountServe.com.sg xbrl@accountserve.com.sg T +65 6222 6868 Y'OU'V'H MADE /T THIS FAR. THE ALL-NEW MEZDEE WAGON SAV wDriven by success, it's the
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  • Page 10 Advertisements
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      231 10 ucr Preserving Health and Longevity HEART, STROKE CANCER CENTRE Worried about V, V Heart Attack? CT Coronary Angiogram at $399* CALL (+65) 6881 8811 FOR YOUR APPOINTMENT TODAY 4 The abovementioned price is not inclusive of CT IV contrast. Kindly present this during your visit. HEART, STROKE CANCER CENTRE 290
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      Lock icon Page 10 Advertisements Column 2
      363 10 InvestorRelationsHighlights ISOTeam continues record earnings streak ISOTeam Ltd. saw its half year earnings surge 91.9% to $4.1 million in 2015 on the back of sustained government initiatives to rejuvenate mature estates, which boosted its revenue by 22.1% to $39.0 million. It also recently completed the acquisition of four businesses dealing
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      1446 11 A Special Feature Brought to You By Singapore Management University What drives the Singapore economy Foreign investment was, and will be a significant stimulus for the Singapore economy, said SMU economist retirement adequacy”. In the recent Budget, the government boosted CPF contribution rates for older workers and announced that it
      1,446 words
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Yields falling, but shophouses still attractive: Colliers
      741 12  -  The properties can capture spill-over tenants from CBD; contiguous rows also allow for master leases By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore EVEN though yields of shophouses are falling as their rental growth lags the rapid increase in their capital values, investment firms continue
      Source: URA Realis, Colliers International Singapore Research  -  741 words
    • Article, Illustration
      Lock icon Moderate interest, cautious bids expected for Tampines condo plot
      602 12  -  Analysts expect 3-7 bids, with top bid tipped to be lower than that received for nearby plot in 2013 By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore A 99-YEAR private residential site on Tampines Avenue 10 on the confirmed list launched by the
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    • Article
      Lock icon Evergrande gets 100b yuan in credit lines
      230 12 BLOOMBERG Hong Kong EVERGRANDE Real Estate Group Ltd, the developer owned by billionaire Hui Ka Yan, has obtained 100 billion yuan (S$22.6 billion) in credit lines from four Chinese banks in the past two months as sales declined. The developer received a credit
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    • Article
      Lock icon Chinese investment firm Fosun said to be mulling over bid for Cushman
      484 12 BLOOMBERG Hong Kong CHINESE billionaire Guo Guangchang’s Fosun International Ltd is weighing a bid for commercial property broker Cushman Wakefield Inc, people with knowledge of the matter said. The Shanghai-based investment firm is among several companies that have
      BLOOMBERG  -  484 words
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      Lock icon Property fund manager buys dormitory for S$127m
      459 13  -  Market watchers say dormitories, even with short leases left, can be viable investments By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore PROPERTY fund manager Pamfleet Group has inked a deal to buy Homestay Lodge for slightly above S$127 million. The dormitory of about 6,000 beds
      PHOTO: YEN MENG JIIN  -  459 words
    • Article
      Lock icon Philippine billionaire Razon to buy Korean island in casino push
      376 13 BLOOMBERG Manila PHILIPPINE billionaire Enrique Razon will buy an island in South Korea to develop a leisure and tourism complex, as he taps the country’s growth in gambling on rising tourist arrivals from China. Bloomberry Resorts Corp, controlled by Mr
      BLOOMBERG  -  376 words
    • Article
      Lock icon Blackstone acquires former Sears Tower in Chicago for US$1.3b
      433 13 REUTERS New York THE Blackstone Group LP agreed on Monday to buy the Willis Tower, the former Sears Tower that for 25 years was the world’s largest building, in a deal that features an observation deck as a tourist attraction and
      REUTERS  -  433 words
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      206 12 a ft Contact: Investment Properties Sammi Lim (CEA Reg No.: R*****9J) Tel: 9368 9803/6224 8181 6 Battery Road #32-01 Singapore *****9 77 TO 80 AMOY STREET 3-Storey with Attic Prime Refurbished Shophouses with Lift 999-year tenure Total Site Area: Approx. 8,182 sq ft Total GFA: Approx. 23,814 sq ft Conservation
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      7 12 www.omy.sg pf m 25* SCAN WATCH NOW
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      214 13 r n A FREEHOLD PROPERTY WITH A TIMELESS DESIGN IS WORTH INVESTING ANYTIME. Live the high life at Amber Skye. A 22-storey luxury residential development with an iconic Italian design, in the prime District 15. This is the beginning of anything you want. OWNERSHIP HAS ITS PRIVILEGES 109 units of
      214 words
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon KL’s US$ sukuk sale reflects investor appetite for yields
      643 14 It will be able to use Petronas’ US$5b sale of both Islamic and conventional notes as a proxy to price its sukuk BLOOMBERG Kuala Lumpur MALAYSIA’S decision to press ahead with its first US dollar sukuk since 2011 reflects investor appetite
      BLOOMBERG; PHOTO: REUTERS  -  643 words
    • Article
      Lock icon RBS says fresh rate cut may be needed to buoy economy
      644 14 BLOOMBERG Sydney AUSTRALIA’S central bank said that another interest rate cut could be needed to support an economy that is expanding at a below-average pace, while noting emerging risks in the nation’s commercial property market. “On the basis of
      BLOOMBERG  -  644 words
    • Article
      Lock icon BOJ maintains stimulus, tempers price outlook
      476 14 RE UTERS Tokyo THE Bank of Japan (BOJ) maintained its massive stimulus programme on Tuesday and signalled its conviction that a steady economic recovery will help achieve its ambitious price target without immediate, additional monetary easing. The central bank, however, offered a slightly more
      REUTERS  -  476 words
    • Article
      Lock icon Espirito Santo collapse triggers flurry of potential deals
      611 14 BLOOMBERG Lisbon JUST months after the Espirito Santo family empire unravelled, pushing what was once Portugal’s largest lender into a bailout, a flurry of merger discussions is shaking up the banking industry. Firms from Spain to China are looking at Novo Banco
      BLOOMBERG  -  611 words
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      96 14 Prego's New Menu Well-loved Italian Tradition meets Fresh Seasonal Selections Prego launches its new menu teeming with Chef Antonio Facchinetti's creative take on traditional Italian fare, combining age old culinary methods and techniques, with the best seasonal ingredients. Tuck into a new ensemble of beloved regional delicacies that speak boldly
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon World sugar output set to exceed demand for fifth year
      1071 15 Stockpiles are hitting record levels; global sugar prices look to fall further, benefiting doughnut and chocolate makers BLOOMBERG New York THE world has never been so awash in sugar. Just as cane harvests expand in India and Thailand, farmers in
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,071 words
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      64 15 PRESIDENT’S AWARD FORTHE ENVIRONMENT Nominate exceptional individuals educational institutions and organisations that have made an impact towards a sustainable Singapore. Nominations close on 17 April 2015 For more information log on to: www.mewr.gov.sg/presidentsaward The President's Award for the Environment (PAE) is the highest environmental accolade that recognises outstanding contributions towards
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  • TECHNOLOGY
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      375 16 STProperty EVENTS STPROPERTY SEMINAR: Strategies to Capitalise on Opportunities and Avoid Pitfalls in the Property Market 2015 All prices are inclusive of GST TICKETS NORMAL 1-Day Pass 2-Day Pass $25 $40 ‘Early bird price ends 30 March 2015 f 7 > wm m r\ s S:1 ATTEND OUR SEMINAR FOR
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  • CONSUMER
    • Article, Illustration
      Lock icon Zara owner has edge in online battle with H&M
      1209 17 Centralised distribution network, and IT synergies between its brands and outlets, a big plus for the Spanish chain: analysts REUTERS Madrid THE families behind Zara-owner Inditex and H&M will need to fend off fast-moving competitors if they are to replicate online
      REUTERS; PHOTO: REUTERS  -  1,209 words
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      2987 17 The Business Times L T/^VT'T/nj 1 P Toll free 1800-289-8822 M I I Email notices@sph.com.sg J B V j B j il www.sphclass.com.sg/notices CHINA YONGSHENG LIMITED Company Registration No. *****2032R NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 40 th Annual General Meeting (“AGM”) of the Company
      2,987 words
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  • GOVERNMENT & ECONOMY
    • Article
      Lock icon Germany, France, Italy follow UK to join AIIB
      831 18 Move to join Beijing-led Asian Infrastructure Investment Bank reflects European eagerness to partner with China’s fast-growing economy, seen as a diplomatic blow for the US REUTERS Paris GERMANY, France and Italy said on Tuesday that they had agreed to join a new
      REUTERS  -  831 words
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      Lock icon Lagarde warns of volatility if Fed’s move surprises investors
      525 18 IMF managing director calls for more policy cooperation among central banks BLOOMBERG Mumbai EMERGING markets need to prepare for capital flight if investors are surprised by the timing or pace of policy changes in developed economies, the International Monetary Fund’s (IMF)
      BLOOMBERG; PHOTO: AFP  -  525 words
    • Article
      Lock icon China to open moon exploration programme to private firms
      350 18 REUTERS Beijing THE Chinese government will open up its ambitious moon exploration programme to private companies rather than simply relying on the state-owned sector as before, hoping to boost technological breakthroughs, a major newspaper said on Tuesday. The next mission to
      REUTERS  -  350 words
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      Lock icon US judge’s latest ruling on Argentine notes deals big blow to bondholders
      577 18 BLOOMBERG Buenos Aires ARGENTINA’S default is starting to become an all-encompassing concern for bondholders. US District Judge Thomas Griesa said on Thursday that notes governed by Argentine law and issued in restructurings should be considered foreign debt, making
      BLOOMBERG  -  577 words
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      Lock icon China’s brokerages come under threat from banks
      479 18 BLOOMBERG Beijing CHINA’S securities firms, which have been struggling to diversify beyond volatile revenues from margin lending and brokerage commissions, face the unwelcome prospect of competition from the nation’s biggest commercial banks. News last week that two Chinese banks may capitalise on a
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      Lock icon Frankfurt braces for protests as ECB opens new HQ
      543 19 As many as 10,000 people from around Europe are expected to show up to join anti-austerity demonstration AFP Frankfurt WHEN the European Central Bank (ECB) officially inaugurates its new headquarters in Frankfurt on Wednesday, as many as 10,000 people from around
      AFP; PHOTO: REUTERS  -  543 words
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      Lock icon Greece scrambling for cash as 2b euro debt payments fall due
      784 19 BLOOMBERG Athens GREECE will begin debating measures to boost liquidity as the cash-starved country braces for more than two billion euros (S$2.9 billion) in debt payments on Friday. Unable to access bailout funding and locked out of capital markets,
      BLOOMBERG; PHOTO: REUTERS  -  784 words
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      Lock icon Britain readies final budget before May general election
      528 19 Chancellor of Exchequer vows to stick to economic plan with “no gimmicks” AFP London BRITAIN’S coalition government presents its final budget on Wednesday, with finance minister George Osborne vowing to stick to his economic plan with “no gimmicks” before a knife-edge general
      AFP; PHOTO: REUTERS  -  528 words
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      Lock icon Jakarta to add 30 nations to its visa-free list but not Australia
      488 19 AFP Jakarta INDONESIA will soon allow tourists from an additional 30 countries to visit without a visa, a minister said, but neighbouring Australia was left off the list amid a row over looming executions. The move comes as
      AFP  -  488 words
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      Lock icon S Korea, China, Japan ministers to meet
      299 19 REUTERS Seoul THE foreign ministers of South Korea, China and Japan will meet on Saturday in Seoul for the first time in nearly three years in a bid to restore cooperation between the three Asian economic powers, South Korea’s foreign ministry said. South
      REUTERS  -  299 words
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  • OPINION
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      Lock icon The Catalist conundrum which shows no sign of getting resolved
      591 20 EDITORIAL EVEN though the Straits Times Index (STI) has not performed this year, it is still hovering around a two-year high, having gained some 130 per cent since the low reached during the 2008 US sub-prime crisis. In contrast, the
      591 words
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      Lock icon China in danger of reverting to cult-based politics
      796 20  -  THE BOTTOM LINE By Frank Ching The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter at: @FrankChing1 MUCH attention has been focused on what Premier Li Keqiang had to say about the slowing Chinese economy in his annual
      796 words
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      Lock icon Clinton vs Bush race no more a certainty
      1350 20  -  Emailgate and Bush fatigue throw up new prospects though it’s too early to rule anything out By Leon Hadar IT HAS been said that 24 hours is a lifetime in politics. This old adage may have become even more relevant these days,
      PHOTO: AFP  -  1,350 words
    • Article
      Lock icon Why deflation is good news for Europe
      754 21  -  COMMENTARY by Daniel Gros T The writer is director of the Center for European Policy Studies IN today’s global economy, there is no price as important as that of crude oil. More than 80 million barrels are produced (and consumed) daily, and a
      754 words
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      Lock icon The eurozone crisis: Why Germany insists on structural reforms
      951 21  -  By Klaus F Zimmermann T The writer is director of the Institute for the Study of Labor (IZA), http://newsroom.iza.org/en/. Based in Bonn, Germany, the institute is focused on the analysis of global labour markets and operates a network of about 1,300
      PHOTO: REUTERS  -  951 words
    • Article
      Lock icon Loss of market confidence here – just look at cases such as Sino Construction
      1668 21  - Loss of market confidence here just look at cases such as Sino Construction The question is not why the company’s share price recently collapsed but why it has taken so long. Are there more such cases to come? BY MAK YUEN TEEN come?BY MAK YUEN TEEN T The writer is
      1,668 words
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  • TRANSPORT
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      Lock icon Lufthansa to launch premium economy seats on S’pore-Frankfurt route in April
      430 22  -  Special launch fares available till March 20, starting at S$1,999 from Singapore to destinations in Europe By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore GERMANY-BASED carrier Lufthansa has introduced its new premium economy product, which will be available on all its
      430 words
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      Lock icon Dealers gear up for expanded ETS but may face stock issues
      718 22  -  By Samuel Ee samuelee@sph.com.sg Singapore THE bigger pool of diesel commercial vehicles eligible for the Early Turnover Scheme (ETS) from August onwards will be “a good sales opportunity” for dealers. But if last year’s experience is anything to go
      718 words
    • Article
      Lock icon Shipping must be engaged in developing new UNCLOS agreement
      806 22  -  TTSTRAIT TALK By DAVID HUGHES THE shipping industry is in general now well aware of the environmental implications of its use of the sea. Over the past 30 years or so, regulations protecting the sea and atmosphere from the harmful effect
      806 words
    • Article
      Lock icon Rolls-Royce needs activist investor to drive change: Sequoia Fund
      474 22 BLOOMBERG London ROLLS-ROYCE Holdings plc has come under attack from shareholder Sequoia Fund Inc, accusing the UK manufacturer of destroying shareholder value by branching out from its jet engine business, which may require a “tough-minded activist” investor to push through a
      BLOOMBERG  -  474 words
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      Lock icon Impact of weak euro lifts Europe’s carmakers
      763 23 But analysts, citing forex hedges by the firms, warn investors that gains will be limited and may take time BLOOMBERG London THIS year’s 12 per cent plunge in the euro has ignited the biggest rally on record in carmakers and helped push the
      BLOOMBERG; PHOTO: REUTERS  -  763 words
    • Article
      Lock icon Boeing’s biggest union seeks vote to unionise 24,000 workers
      403 23 REUTERS Seattle Boeing Co’s largest union has filed for a vote to unionise 2,400 workers at the company’s airplane factory in South Carolina, setting the stage for a clash between the two sides in the strongly anti-union state. The International Association
      REUTERS  -  403 words
    • Article
      Lock icon GM settles faulty ignition suit, now faces class-action case
      599 23 NYT Detroit WHILE General Motors (GM) has settled one potentially explosive lawsuit related to defective ignition switches, the company still faces the possibility of depositions of its employees in a broader class-action case. A number of current and former GM employees
      NYT  -  599 words
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      Lock icon Philippine Airlines sees profit after Lucio Tan’s return, seeks investor
      458 23 BLOOMBERG Manila PHILIPPINE Airlines Inc posted a “small” profit last year after billionaire Lucio Tan regained full control of Asia’s oldest carrier, with lower oil prices and new planes helping to boost its passenger count, president Jaime Bautista said. Shares
      BLOOMBERG; PHOTO: BLOOMBERG  -  458 words
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    1949 24 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 HAN SYMPHONY 1 60 28/3 29/3 1/4 4/4 ISTORYA 1 120 29/3 2/4
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      106 24 Experienced sh;p maintenance services wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 mi:m MM-SS ruins Shipping times Make A Splash In The Maritime World Via s|£iShiaritime.coM Ahoy there! If you are in a business pertaining to any sector of
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  • LIFE & CULTURE
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      Lock icon Tasmania’s quirky art museum puts island on the world map
      1025 25 Over 1m people have visited MONA, built by eccentric gambler-millionaire David Walsh NYT Hobart FOR most of its existence, Tasmania was known as a faraway island at the bottom of Australia, a grim 19th century redoubt where British colonial officers
      NYT; PHOTOS: NYT; PHOTO: NYT  -  1,025 words
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      Lock icon Sotheby’s first auction on eBay offers Man Ray, Sinatra
      762 25 BLOOMBERG New York GET ready to bid as much as US$600,000 for the old Yankee Stadium sign orUS$15,000fora painting by Frank Sinatra. But ditch the auction paddle; this sale is online. Sotheby’s and eBay Inc will debut their partnership to offer
      BLOOMBERG  -  762 words
  • Page 25 Advertisements
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      30 25 Beef Up Your Finances Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your IPOs other offerings innumberof resaleflats soldfor over$900k in2014 To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • Page 25 Miscellaneous
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      291 25 CRYPTIC CROSSWORD Across 4 Steer round trouble on minor road that’s delayed traffic (8) 8 Run west perhaps astride horse (6) 9 Cast net fish to get caught up (8) 10 Made a score with aplomb (8) 11 Posh sort, the French aristocracy (6) 12 Bring over Whistler’s new art
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      139 27 Morgan Stanley m m/ ysssar -a i i r Stepping up our Commitment to Private Wealth Management in Asia As a global Leader in wealth management with over US$2 trillion in client assets, Morgan Stanley is committed to building trusting and rewarding relationships with clients as we continue to invest
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  • EXECUTIVE MONEY
    • Article, Illustration
      Lock icon When negative yields are fine
      1042 28  -  More and more govt bonds in the eurozone are trading at negative yields. And yet, when asked who will sell their bonds to the ECB, few market participants appear keen to do so. Has the world gone mad?BY HAN DE JONG MONEY MATTERS mad?BY HAN
      Source: Thomson Reuters Datastream; PHOTO: FREEIMAGES  -  1,042 words
    • Article
      Lock icon Global mutual funds net buyers of S’pore stocks
      453 27 ON THE RADAR GLOBAL mutual funds were net buyers of Singapore stocks in the three months to March 11. Based on transactions on the top five stocks, there were net buys of S$1.16 billion, compared with net sells of S$831.4 million. This
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    • Article
      Lock icon Strong US dollar creates trouble abroad
      751 27  -  It is threatening emerging economies where firms have taken on US$-based debt. BY NEIL IRWIN BY NEIL IRWIN NYT IN India, it is a leading electric utility Jaiprakash Power Ventures that, having increased its debts thirtyfold in six years, is now selling off facilities
      NYT  -  751 words
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      298 28 INVEST FOR YOUR FAMILY'S FUTURE IN A FEW SIMPLE STEPS. m r I INVESTMENTS I SAVINGS Visit oldmutualinternational.com Formerly known as SkcUlClid* International The path to financial security needn't be a difficult one. It just requires a sense of direction, clear guidance and the kind of investment solutions that offer
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