The Business Times, 21 March 2015

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Microfilm: NL33431
Total Pages: 41
1 32 The Business Times
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      80 1 LivingBTTHE BUSINESS TIMES WEEKEND MARCH 21-22 2015 DINING Rise of the artisanal pizza L5-7 FOOD RENAISSANCE Celebrity chefs on re-defining fine-dining experience; advancing French cuisine and using food to evoke social change L2-4 BOUCHOT MUSSELS, COD EXTRACTION POTATOES UNDER A VEIL OF JUICE OF COCKLES PHOTO: PAVILLON LEDOYEN IN PARIS
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  • BT Living
    • DINING
      • Article, Illustration
        Lock icon Food renaissance
        3148 2 / 3  -  The recent Asia’s 50 Best Restaurant Awards saw a wave of celebrity chefs making a pit stop in Singapore. Three of the biggest names share their thoughts on re-defining the fine dining experience; taking French cuisine to a higher level and food as a powerful tool for social
        PHOTOS: JOHN HENG, ELEVEN MADISON PARK; PHOTOS: GASTON ACURIO; PHOTOS: PAVILLON LEDOYEN; PHOTO: PAVILLON LEDOYEN  -  3,148 words
      • Article
        Lock icon wine&dine
        923 4 with BTWeekend AquaMarine Marina Mandarin Singapore 6 Raffles Boulevard, Level 4Z6845-1111 Terrace@AquaMarine Dine at Aquamarine and catch the brand new mermaid mascot, as you relish in the halal-certified buffet selections resplendent with fresh seafood, as well as Asian and International favourites. This month, AquaMarine presents a newly renovated dining
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      • Article, Illustration
        Lock icon Rise of the artisanal pizza
        2286 5  -  The pizza culture in Singapore is gradually changing with more places serving traditional, Italian-style pizzas made from fresh dough and cooked in a wood-fired oven By Rachel Loi @RachelLoiBT rachloi@sph.com.sg By Avanti Nim avantin@sph.com.sg By Tay Suan Chiang taysc@sph.com.sg @TaySuanChiangBT PIZZA in Singapore may have
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      • Article, Illustration
        Lock icon The secret’s in the dough
        475 6 / 7  -  The most important part of a pizza is the dough. While its ingredients are simple, the actual process is hard to master. Here’s some advice from pizza chefs By Rachel Loi @RachelLoiBT rachloi@sph.com. sg MAKING a pizza is basically baking bread, except you add tomatoes
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    • SHOPPING
      • Article, Illustration
        Lock icon Rocks in the Republic
        1263 8 / 9  -  Singapore is now home to the biggest diamond greenhouse, where colourless, Type IIa diamonds are grown. But are jewellery shoppers ready to go faux? By May Yip WE’RE already known for our strong economy, super gardens and stratospheric skyscrapers. The next gleaming emblem to be associated
        PHOTOS: IIA TECHNOLOGIES  -  1,263 words
    • TRAVEL
      • Article, Illustration
        Lock icon More home than hotel
        865 10 / 11  -  Families that ski together stay together and the Kasara Niseko Village Townhouse has just made it easier for them to do so. By Tay Suan Chiang By Tay Suan Chiang taysc@sph.com.sg @TaySuanChiangBT ~The writer was a guest of YTL Hotels and The Orchards Niseko. JUDGING from
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      • Article, Illustration
        Lock icon Secluded yet convenient
        697 10 / 11  -  By Tay Suan Chiang The Orchards Niseko http://www.theorchardsniseko.com/ GO skiing or snow boarding in Niseko, and you’re most likely to be traversing down the snowy slopes in the major ski areas of Hirafu, Niseko Village, Annapuri and Hanazono. Much of the activity in Niseko centres around Hirafu,
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    • DESIGN
      • Article, Illustration
        Lock icon Crafting in human experiential terms
        1115 12  -  Famous international designer Thomas Heatherwick, who has designed awe-inspiring buildings, is not saddled with the baggage of Modernist architectural dogma. By Arthur Sim By Arthur Sim THOMAS Heatherwick became famous almost overnight with his design for the UK Pavilion at the Shanghai World Expo 2010.
        PHOTOS: YEN MENG JIIN, HEATHERWICK STUDIO, IWAN BAAN  -  1,115 words
    • health
      • Article, Illustration
        Lock icon Don’t blame memory loss on ageing
        1469 13  -  Multiple non-genetic factors contribute to the development of cognitive decline and dementia Michael Lim ~Dr Lim is the medical director at Singapore Heart, Stroke Cancer Centre. He is also the founding editor of “Heart Asia”, a journal of the British Medical Journal Publishing Group.
        PHOTO: FREEIMAGES  -  1,469 words
    • MOTORING
      • Article, Illustration
        Lock icon SHARPENED 7
        643 14  -  The Audi A7 gets a facelift and more fuel efficiency with a 2.0-litre engine and front-wheel drive. By Samuel Ee samuelee@sph.com.sg M ID-life makeovers aren’t usually particularly significant for most models but for the Audi A7 Sportback, it will be special for the introduction of a two-litre engine
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      • Article, Illustration
        Lock icon BETTA JETTA
        559 15  -  The Volkswagen Jetta compact sedan gets an extensive makeover. By Samuel Ee samuelee@sph.com.sg VOLKSWAGEN’S most popular sedan Jetta is now better, thanks to a slew of aerodynamic and equipment improvements. Nearly four years after this neatly styled four-door car was first introduced here, it has been extensively re-designed
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    • GOLF
      • Article, Illustration
        Lock icon More than just a competition...
        361 16  -  The 6th edition of The BT Golf League promises great golf, spirit, entertainment and excitement. By Justine Moss THE sixth edition of The Business Times Corporate Golf League tees off in July this year, and once again promises to be a superb three months of
        361 words
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  • TOP STORIES
    • Article
      Lock icon MND asks court to appoint independent accountants to AHPETC
      366 2  -  They are to safeguard S&CC grants given to the town council, but not take over its running By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore THE Ministry of National Development (MND) has applied to the court to appoint independent accountants to safeguard government
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    • MARKETS
      • Article
        Lock icon STOCKS
        58 2 GSTI 3,412.44 (+26.28) GSTI FUTURES 3,413.00 (+26.00) GSIMSCI 381.42 (+3.10) GSIMSCI FUTURES 382.00 (+3.80) Friday Change KL COMP 1,803.65 -5.48 NIKKEI 225 19,560.22 +83.66 HANG SENG 24,375.24 -93.65 SET 1,529.96 -2.17 JAKARTA 5,443.06 -10.79 MANILA 7,818.38 +3.83 KOSPI 2,037.24 -0.65 SHENZHEN B 1,136.19 +8.82 MUMBAI IND 28,261.08 -208.59 Noon
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.35 MALAYSIA 6.85 HONG KONG 5.00 INDONESIA 14.635 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.85 SWITZERLAND 0.50 INDIA 14.75 Source: Bloomberg
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      • Article
        Lock icon FOREX
        49 2 US$ S$ US$ (S$ per US$) 1.388 (US$/S$ per 1.474 2.045 EURO (US$/S$/€ 1.067 1.481 Foreign currency per US$ S$ YEN 120.80 87.10 RM 3.725 2.683 HK$ 7.758 5.589 BAHT 32.72 23.57 RUPIAH 13,105 9,441 RENMINBI 6.204 4.470 INDIAN RUPEE 62.52 45.04 A$ 1.302 0.938 NZ$ 1.343 0.967
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    • Article, Illustration
      Lock icon China to grow 7% this year, but faces downside risks: OECD
      573 3  -  But the risks are manageable, it says By Virginie Mangin btworld@sph.com.sg Beijing CHINA’S gross domestic product (GDP) will grow 7 per cent this year as the world’s second-largest economy enters a “new normal” growth cycle, the Organisation for Economic
      PHOTO: BLOOMBERG  -  573 words
    • Article
      Lock icon How some online companies are going offline, and vice-versa
      448 4 Online to offline Red Mart Singapore’s highly-watched online grocer RedMart started introducing click-and-collect points at MRT stations and within offices last month. With this arrangement, buyers collect their online orders in chilled tote bags from RedMart employees. They can be “popped
      448 words
    • Article, Illustration
      Lock icon PM Lee ‘deeply touched’ by support for Lee Kuan Yew
      486 5  -  Meanwhile, a male student is helping in the investigations into the fake PMO website By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore PRIME Minister Lee Hsien Loong said he is “deeply touched” by the many good wishes and prayers for his father,
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    • Article
      Lock icon Malaysia’s February inflation almost flat
      536 5  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur MALAYSIA’S inflation for the month of February was virtually unchanged from a year ago, largely on lower fuel costs. The sharp easing in consumer prices from January’s one per cent rise was the third straight month-on-month dip and the
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    • Article, Illustration
      Lock icon Success is within reach, says Kuroda about achieving inflation target
      782 6  -  CPI has been positive for 20 months, wages up for first time in 20 years, he points out By Anthony Rowley btworld@sph.com.sg Tokyo BANK of Japan (BOJ) governor Haruhiko Kuroda launched a spirited defence on Friday of the central bank’s
      PHOTO: AFP  -  782 words
    • Article
      Lock icon MPA issues clarification on ships detained by Indonesia
      313 6  -  Not all the allegedly Singapore-registered ships are actually registered here By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore NOT all of the supposedly Singa-pore-registered ships that Indonesia detained earlier this month were actually registered here, the Maritime and Port Authority of Singapore (MPA) said
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    • Article
      Lock icon Nintendo’s US$6b rally risks overvaluing phone push
      545 7 Shares soar 36% after plans for new games for phones, tablet computers Bloomberg Tokyo NINTENDO Co’s US$6 billion rally risks overvaluing its long-awaited first steps into the market for smartphone games. The shares soared 36 per cent in the two days after president
      Bloomberg  -  545 words
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      51 2 CONTENTS NEWS Top Stories 2-7 Raffles Conversation 8-9 Companies Markets 10-14 Real Estate 15-16 Banking Finance 18 Energy Commodities 19 Technology 20 Consumer 21 Transport 22 Govt Economy 23-25 Opinion 26-27 Wealth 28-30 LIVING Dining L2-7 Shopping L8-9 Travel L10-11 Design L12 Health L13 Motoring L14-15 Golf L16 Life Culture
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      Lock icon Page 2 Advertisements Column 2
      17 2 Discover Greener Pastures Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices
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      194 3 circuu MAKATI ALVEO an AyalaLand company BUILDING MOMENTUM IN THE PHILIPPINES ft* M THE ST ENTERPRISE PLAZA EJriH Hsra www.alveoland.com.ph 21 MARCH 2015 (SATURDAY) 11AM -4PM 26 SIN MING LANE, 05-114 MIDVIEW CITY, SINGAPORE *****1 In Partnership with: VILLA. JOE BRIMER +65 9725 7471 brimer.joe@aYalaland-intl.co Villa Group Of Companies JULIE
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      547 7 The Business Times NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.sphclass.com.sg/notices -7 THE MONETARY AUTHORITY OF SINGAPORE APPLICATION FOR TAXABLE BOOK-ENTRY SINGAPORE GOVERNMENT BONDS Tenor Total Amount Offered Minimum Denomination MAS 1 Intended Tender Amount 2 Issue Code ISIN Code Issue Date/Settlement Date 1 Maturity Date 1 Coupon Rate Yield and
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Ruling the regulatory kitchen
      2689 8 / 9  -  Whether making food or rules, Tim Massad, chairman of the US Commodity Futures Trading Commission, has an uncompromising belief that the final product must serve its intended purpose well. By Kenneth Lim By Kenneth Lim kenlim@sph.com.sg @KennethLimBT WHEN it comes to fundamental principles, Tim Massad the
      PHOTO: ARTHUR LEE  -  2,689 words
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  • COMPANIES & MARKETS
    • Article
      Lock icon Nomura swings to hospitality from retail
      659 10  -  It lifts its rating for CDL Hospitality Trust to “buy” from “neutral”, downgrades CapitaMall Trust to “neutral” By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore Singapore WITH Malaysia warming up as a shopping destination in Asia given its weak ringgit, there could be spillover benefits for
      659 words
    • Article, Illustration
      Lock icon Noble gain pared as Iceberg warns it’ll release 3rd report
      451 10  -  Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore THE looming threat of yet another attack by obscure research outfit Iceberg Research took the wind out of Noble Group’s sails on Friday after the stock initially surged following rumours of a potential takeover. Noble
      Source: Bloomberg  -  451 words
    • Article
      Lock icon Genting HK’s earnings lower on fall in ‘net other gains’
      326 10  -  By Angela Tan angelat@sph.com.sg Singapore GENTING Hong Kong, an operator of casino cruise ships, reported on Friday that its net profit attributable to shareholders fell to US$384.48 million for the year ended Dec 31, 2014, from US$552.39 million a year
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    • Article, Illustration
      Lock icon Stocks play out according to FOMC script
      788 11  -  stocks R Sivanithy sivan@sph.com.sg @RSivanithyBT Senior Correspondent IT is not often that the market plays out almost exactly according to script, but it happened this week. The main event was the US Federal Open Market Committee (FOMC) meeting over Tuesday and Wednesday. Markets
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      Lock icon Share sales sulk in Q1 as IPOs stay home
      364 11  -  By Kenneth Lim kenlim@sph.com.sg @KennethlimBT Singapore IF Singapore’s initial public offering market were any quieter, it would be a mime in hiding. Investment bankers hope it is merely an awkward pause. Equity capital raised on the Singapore Exchange fell 76 per
      Source: Thomson Reuters  -  364 words
    • Article
      Lock icon STI STOCKS
      320 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 260 +10 260/248 263 214 5.5 6573.7 CapitaLand 352 +4 352/341 371 270 12.9 2.6 *****.8 CapitaMall Trust 215 -1 215/210 226 186.5 5 7458.4 CityDev 1009 cd +9 1011/993 1118 915
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    • Article
      Lock icon SGX ETFs Most Active
      110 12 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 342 +3 327 342/337 349/308 341/342 UETF SSE50China 255 +5 283 259/250 259/140 256/257 79.7 IS Asia BND US US1058 110 1058/1058 1081/1006 1058/1062 ABF SG Bond ETF 114 -0.8 58 114.8/114 123.5/112 114/114.7
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    • Article
      Lock icon SIBOR
      31 12 Mar 20 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 1.***** 9 mths 12 mths 1.***** SWAP Offer rates (S$) (SS) 1 mth 0.***** Source: Thomson Reuters
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      795 12 For week beginning Mar 16 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) China Env 19-Mar-15 Huang Min Buy 600 0.14 2620 0.32 3220 0.40 Ezion Hldgs 19-Mar-15 Chew Thiam
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 12 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 4 4 0 0 0 6 4 4 Manufacturing 48 43 36 8 3 15 56 46 51 Commerce 23 16 20 3 1 3 26 17 23 Tpt/Stor/Comms 22 7 11
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 12 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 21,491 21,491 106,598 106,598 Manufacturing 147,535 23,291 170,826 94,769 1,445 96,214 Commerce 130,287 24,358 154,645 137,145 1,035 138,181 Tpt/Stor/Comms 151,646 149 151,795 305,591 13 305,604 Finance 25,744 98 25,842 264,723 20 264,743 Construction 40,752 21,755
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 12 Mar 20 VALUE CLOSE BT OB/OS -693.00 +79.00 BT CADI -*****.00 +65.00 BT 10-day MA -*****.00 -69.00 FTSE ST Mid Cap 770.13 +1.39 FTSE ST Small Cap 473.67 +1.72 FTSE ST All Share 815.74 +5.31 FTSE ST China Top 189.83 -0.49 FTSE ST China 232.90 -0.83 FTSE
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    • Article
      Lock icon UNUSUAL ACTIVITY
      83 12 VOL CLOSE($) CHANGE ChinaSing Inv 6.1 0.030 +0.020 +200.00 Suntar Eco-City 100.0 0.052 -0.048 -48.00 Top Global 22,355.6 0.006 +0.002 +50.00 Hiap Tong 70.1 0.125 -0.023 -15.54 Universal Res 327.0 0.034 -0.006 -15.00 LH 1,856.6 0.003 +0.001 +50.00 Pavillon 141.1 0.060 -0.010 -14.29 Pharmesis Intl 28.0 0.032 -0.008
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    • Article
      Lock icon COMMODITY FUTURES
      193 13 Mar-19 Price Net change change Last Trade Agricultural Mar-19 CBOT Soybeans (US cents/bu) 961.75 -3.25 -0.34% 14/05/2015 CBOT Soybean Oil (US cents/lb) 30.62 -0.01 -0.03% 14/05/2015 CBOT Wheat (US cents/bu) 512.00 1.25 0.24% 14/05/2014 Mar-19 LIFFE Cocoa (£/tonne) 1923.00 -26.00 -1.33% 13/05/2015 LIFFE Coffee (US$/tonne) 1791.00 -4.00 -0.22%
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    • Article
      Lock icon PALM OIL
      57 13 Mar 20 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Apr 15 2200.0 2168.0 2207.0 2165.0 276 5715 May 15 2210.0 2167.0 2216.0 2165.0 8799 ***** Jun 15 2205.0 2160.0 2211.0 2155.0 ***** ***** Jul 15 2192.0 2152.0
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    • Article
      Lock icon GOVERNMENT SECURITIES
      69 13 Mar 20 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.17 102.30 102.25 5-Year N*****0H 1.625 01-Oct-19 98.6 98.95 98.70 10-Year NY*****H 3.000 01-Sep-24 104.51 105.05 104.85 15-Year NY*****E 2.875 01-Jul-29 101.87 102.10 101.95 20-Year NZ*****V 3.375 01-Sep-33 107.13
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 13 Mar 20 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0656 1.0661 0.7677 0.7680 Canadian dollar 1.0945 1.0951 0.7889 0.7885 Euro 1.4809 1.4813 1.0669 1.0671 NZ dollar 1.0335 1.0343 0.7446 0.7451 Sterling pound 2.0449 2.0458 1.4733 1.4737
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    • Article
      Lock icon BONDS, WARRANTS, PREFERENCE SHARES
      208 13 Most active Mar 20 Prem Expiry Last Vol Conv Exer Disc Gear-Mths Company Sale +or-('000) Ratio Price ing Left DBS MB eCW*****0 13.1 1.4 ***** 0.2 1980 1 OCBC Bk MB eCW*****3 9.7 0.8 9340 0.2 1050 5 UOB MB eCW*****1 12.1 1.4 7269 0.1 2380
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT’L INDICES
      373 13 In local curr In S$ In US$ dy yr dy yr dy yr Mar 19 Index Change Change Change Change Change Change World Preliminary 1344.0 -0.2 5.4 -0.2 7.4 -0.2 2.4 EAFE Preliminary 1098.2 0.3 11.3 0.3 9.4 0.3 4.3 Europe Preliminary 1546.6 0.3 11.9
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      Lock icon STOCK MARKETS
      2 13
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    • Article, Illustration
      Lock icon Teaching the teachers about investment
      424 14  -  Free, eight-module joint financial training programme launched for them by partnership between SGX and NIE By Fiona Lam fionalam@sph.com.sg Singapore TEACHERS will soon be able to increase their financial literacy and investment knowledge, thanks to a financial training programme launched on Friday by the Singapore
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    • Article
      Lock icon Centurion defers Reit listing plan
      329 14  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore CENTURION Corporation says it has decided to defer and reconsider its earlier proposal of spinning off its worker accommodation assets into a real estate investment trust (Reit). This followed further consultation with the Singapore Exchange (SGX), which has informed
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    • Business briefing
    • Article
      Lock icon Frasers Hospitality unveils property in Hamburg
      321 14  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore FRASERS Hospitality, the hospitality arm of Frasers Centrepoint Ltd (FCL), has unveiled its third property in Germany this time in Hamburg. It is putting in a total of S$89.6 million (56 million euros) to acquire an iconic heritage
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Botanique to sell at a ‘realistic’ S$1,300 psf
      869 15  -  It has only one, two and three-bedders; showflat open to public from Saturday By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore UOL GROUP on Friday released the prices for its newest project, the 797-unit Botanique at Bartley in the city fringe. Units will average
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    • Article
      Lock icon Househunt
      1013 16 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN FEB 4 AND FEB 10, 2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 5 NON-LANDED Flynn Park Apt 05/02/2015 FH 2196 2409 1097 Heritage View Apt 06/02/2015 99 1206
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  • Page 17 Advertisements
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      Lock icon Page 17 Advertisements Column 1
      140 17 V 1 Jeep f'H 'V, lOtt-Road Challenges me impossible Awaits Adventure Challenge Stations Watcfi Out For “Get wet l High Your last Destination is A Mystery Tbe Ultimate Reward BecKons At The End Ot Your Journey Team Privileges .> -r. BDnieWi I sttSSf-B. you can opt to Keep it for
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon Morgan Stanley wins over 90 Asia brokerage mandates
      601 18 These are about evenly split between startups and established funds Bloomberg Hong Kong MORGAN Stanley won more than 90 prime-broking mandates from hedge funds in Asia last year when rivals slowed expansion under tighter bank capital and liquidity rules. The mandates were
      Bloomberg; PHOTO: REUTERS  -  601 words
    • Article
      Lock icon BNY Mellon settles overcharging case
      302 18 Reuters New York BANK of New York Mellon Corp (BNY Mellon) has agreed to pay US$714 million to settle allegations that the bank overcharged pension funds and other clients for foreign exchange services, US federal and state authorities said on Thursday. Federal and New York
      Reuters  -  302 words
    • Article
      Lock icon Never mind Apple, it’s now the Goldman Sachs era in the Dow
      532 18 Bloomberg New York ONE of the most recognisable companies in the world is about to cement its grip on the Dow Jones Industrial Average, and it’s not who you think. While Apple Inc enters the average on Thursday,
      Bloomberg  -  532 words
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Gold seen hitting bottom after long slump
      770 19 Short interest in the SPDR Gold Shares exchange-traded fund is near the lowest level since April Bloomberg New York WITH gold showing signs of recovery after its longest slump in 17 years, investors are staking a claim that the precious metal is reaching
      Bloomberg; PHOTO: AFP  -  770 words
    • Article
      Lock icon Loan default claim squeezes small Canadian oil producer
      726 19 Bloomberg Toronto A NEW York lawsuit is threatening to make Connacher Oil and Gas Ltd a casualty of crude’s collapse in Canada’s oil sands as creditors squeeze small producers in one of the priciest places to extract the fuel. As oil prices
      Bloomberg  -  726 words
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  • TECHNOLOGY
    • Article, Illustration
      Lock icon HTC founder Wang takes over as CEO amid shrinking market share
      304 20 Bloomberg Taipei HTC Corp chairwoman Cher Wang has taken over the role of chief executive officer, replacing Peter Chou after three years of declining sales at the Taiwanese smartphone maker. Mr Chou, who also held the title of president,
      Bloomberg  -  304 words
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      Lock icon Sony’s PS4 debuts in China with few games to lure mobile players
      598 20 Firm has to navigate tight censorship rules in the world’s biggest gaming market Bloomberg Tokyo SONY Corp’s PlayStation 4 debuted in China on Friday with few games and bare-bones online services as the company navigates tight censorship rules
      Bloomberg; PHOTO: AFP  -  598 words
    • Article
      Lock icon Amazon gets FAA nod to test drone delivery
      350 20 Reuters Seattle AMAZON.COM has won approval from US federal regulators to test a delivery drone outdoors, as the company pursues its goal of sending packages to customers by air, even as it faces public concern about safety and privacy. The Federal Aviation
      Reuters  -  350 words
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  • CONSUMER
    • Article
      Lock icon Court okays US$10m Target settlement
      676 21 Shoppers hit by personal data breach could be awarded up to US$10,000 each in damages NYT New York A FEDERAL judge on Thursday gave preliminary approval to a US$10 million settlement of a lawsuit brought by customers of Target, which experienced an online attack involving
      NYT  -  676 words
    • Article, Illustration
      Lock icon Nike’s Q3 earnings beat estimates as N American sales advance
      538 21 Bloomberg New York NIKE Inc, the world’s largest sporting-goods maker, has posted a third-quarter profit that topped analysts’ estimates, helped by demand for athletic footwear in North America. Net income for the quarter ended Feb 28 rose 16 per cent
      Bloomberg; PHOTO: BLOOMBERG  -  538 words
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  • TRANSPORT
    • Article, Illustration
      Lock icon Uber offers free rides in a Lamborghini or Maserati
      546 22  -  Event takes place this weekend from 10am to 1pm; rides to last 15 minutes By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore IF your lifelong dream is to ride in a bodacious Lamborghini or Maserati, now you can and for free too thanks
      546 words
    • Article
      Lock icon Lufthansa pilots strike for 3rd day, 700 flights cancelled
      382 22 Reuters Frankfurt LUFTHANSA pilots began a third straight day of walkouts on Friday, grounding 700 flights as they try to put pressure on management in a protracted row over early retirement benefits and cost cuts. Lufthansa wants to cut spending to
      Reuters  -  382 words
    • Article
      Lock icon Tesla says its self-driving car will be introduced this year
      587 22 But questions remain whether such driving is actually legal NYT New York FOR many drivers who commute long distances, the prospect of owning a self-driving car where a driver takes his hands off the wheel and feet off the gas
      NYT  -  587 words
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  • GOVERNMENT & ECONOMY
    • Article
      Lock icon Lagarde expects China to astound world
      504 23  -  But to retain leading economic position, it must keep reinventing economy, she says By Anthony Rowley btworld@sph.com.sg Tokyo CHINA “has amazed the world through its economic transformations” over the past three decades, IMF managing director Christine Lagarde said in Shanghai on Friday. “Over the
      504 words
    • Article
      Lock icon Greece in new race against time to get bailout back on track
      750 23 Work on reforms to be rushed as cash reserves run dangerously low AFP Athens GREECE was in a new race against time on Friday to get its EU-IMF bailout back on track again, with its international creditors pushing
      AFP  -  750 words
    • Article, Illustration
      Lock icon High valuations of India’s online firms cause concern
      636 24 Investors fret that that could hamper IPOs, limit exit strategies Reuters Mumbai AS billions of dollars flow into India’s booming online economy, some investors are beginning to fret that soaring valuations could hamper market listings and limit their options when it comes
      Reuters; PHOTO: BLOOMBERG  -  636 words
    • Article
      Lock icon Putin proposes regional currency union
      259 24 Reuters Astana PRESIDENT Vladimir Putin proposed on Friday creating a regional currency union with Belarus and Kazakhstan, Russia’s partners in a political and economic union made up of former Soviet republics. Mr Putin made his proposal at a meeting with the Belarussian and Kazakh presidents
      Reuters  -  259 words
    • Article
      Lock icon Japan, Australia signal support for AIIB
      694 25 More than 30 countries have so far signed up for the China-led infrastructure investment bank Reuters Sydney JAPAN signalled cautious approval of the China-led Asian Infrastructure Investment Bank (AIIB) on Friday and said for the first time that, if conditions were met, it could
      Reuters  -  694 words
    • Article, Illustration
      Lock icon RBA chief sees below-average growth period for Australia
      791 25 But weaker currency, policy support will cushion impact Bloomberg Sydney AUSTRALIA is likely to have a period of below-average economic growth as it undergoes a “major transition”, though a weaker currency and policy support will cushion the impact, central bank governor Glenn
      Bloomberg; PHOTO: BLOOMBERG  -  791 words
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      Lock icon Page 23 Advertisements Column 1
      60 23 HOT PROPERTY INCREDIBLE PRICE DEDAP Pl. 2.5 sty. semid. 4550/ 5000 sf. 5+1 FH. Lift. 100% movein LUXUS HILLS 999-YRS. 3-sty roof terr. New Terr Semi-d. 5 bdrms. Schs/ Shpg. PRICE REDUCED! SELETAR Hill. Fhold. Semid. 5+1 Land 4200/ 6500 sqft. Modern, like new!! LANDED PROPERTIES FOR SALE! Check out
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  • OPINION
    • Article, Illustration
      Lock icon The why and how of GIC’s long-termism
      1658 26 / 27  -  Long-termism, value orientation are at the heart of all GIC does, but to put these principles into practice requires constant vigilance and discipline. By Lim Chow Kiat ~The writer is the group chief investment officer for GIC, Singapore’s sovereign wealth fund. He joined
      PHOTO: BLOOMBERG  -  1,658 words
  • Page 26 / 27 Miscellaneous
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon China: the usual worries but no boom or bust
        1239 28 / 29  -  While Beijing faces a difficult balancing act, one can confidently expect growth this year to come in around the 7% target. By Shane Oliver By Shane Oliver ~The writer is head of investment strategy and chief economist at AMP Capital IN
        Source: Bloomberg, AMP Capital; Source: Thomson Reuters, AMP Capital  -  1,239 words
      • BROKERS' TAKE
        • Article
          Lock icon Centurion Corp
          171 28 / 29 BUY Maybank Kim Eng Research March 20 March 20 close: S$0.54 Target price: S$0.70 The Business Times reported that Singapore-based property fund manager Pamfleet Group has closed a deal to buy Homestay Lodge for just over S$127 million from a privately-owned vehicle of Hotel Properties managing director Ong
          171 words
        • Article
          Lock icon Ezion Holdings
          108 28 / 29 BUY RHB Research March 20 March 20 close: S$1.035 Target price: S$2.18 Ezion’s shares have fully priced in a 20 per cent cut in charter rates across its entire fleet, trading at 6.7x price-earnings ratio under this worst-case scenario, which looks far too pessimistic to us. Maintain “buy”
          108 words
        • Article
          Lock icon Wilmar International
          167 28 / 29  -  Compiled by Kenneth Lim BUY CIMB Research March 19 March 20 close: S$3.19 Target price: S$3.57 At an analyst briefing with its sustainability team, Wilmar shared the progress made since the launch of its integrated policy on sustainability on Dec 5, 2013. We are positive on the significant
          167 words
      • Article
        Lock icon More funds making ETF allocations
        542 30  -  ETFs now large and liquid enough, cost efficient, and offer currency-hedged exposure By Genevieve Cua gen@sph.com.sg Singapore INSTITUTIONS remain under-in-vested in exchange traded funds (ETFs) particularly in Asia. But this is expected to change, thanks to a number of trends that may pick up momentum.
        542 words
      • Article, Illustration
        Lock icon Pimco’s new managers trump former boss
        816 30 New team bets bonds coming due in 7-10 years will outperform Bloomberg Washington THE new managers of the Pimco Total Return Fund have been trumping former boss Bill Gross since he left the world’s largest bond fund, boosted by an opposing bet tied to
        Bloomberg; PHOTO: REUTERS  -  816 words
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon America celebrates the wonder of Alice
      640 31 A host of commemorations of the 150th anniversary of the Lewis Carroll novel are being held in the country NYT New York WHILE the Alice of Lewis Carroll’s Alice’s Adventures in Wonderland was a fictional British character, she has touched the hearts of young
      NYT; PHOTOS: NYT  -  640 words
  • Page 31 Miscellaneous
    • Miscellaneous
      Lock icon Page 31 Miscellaneous Column 1
      310 31 CRYPTIC CROSSWORD Across 1 Minor damage with vehicle shunted at rear is a form of lottery (11) 9 Head back after sailor’s major win (7) 10 A time trial witness (6) 12 Go on about horse (7) 13 Posh type importing pot is to stop operating (4,3) 14 Characters in
      310 words
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      Lock icon Page 32 Advertisements Column 1
      113 32 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE VALLÉE DE JOUX. FOR MILLENNIA A HARSH, UNYIELDING ENVIRONMENT; AND SINCE 1875 THE HOME OF AUDEMARS PIGUET, IN THE VILLAGE OF LE BRASSUS. THE EARLY WATCHMAKERS WERE SHAPED HERE, IN AWE OF THE FORCE OF NATURE YET DRIVEN TO MASTER
      113 words