The Business Times, 4 June 2015

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Total Pages: 26
1 26 The Business Times
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  • Title Section
    Lock icon Masthead
    32 1 THE BUSINESS TIMES 2015 SOCIETY OF NEWS DESIGN EXCELLENCE AWARD BEST IN OVERALL REDESIGN S$1.00 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 Thursday, June 4,2015
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  • DAILY DIGEST
    • Article
      Lock icon Work on the Smart Nation
      28 1 is progressing well and the Infocomm Development Authority of Singapore is leading the drive to prototype various technologies and services. TOP STORIES 4
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    • Article
      Lock icon Malaysia's central bank
      33 1 has launched a formal enquiry into state fund 1MDB and issued a legal directive for information to examine whether there had been any violation of its rules. TOP STORIES 5
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    • Article
      Lock icon When it comes to achieving cleaner growth.
      34 1 Singapore leads the way in South-east Asia and the rest of the region still has much catching-up to do, says a new economic report. TOP STORIES 5
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    • Article
      Lock icon Noting that PCRD
      40 1 is “reducing its free float rapidly” and appears to be headed for privatisation, an institutional investor has called for a “truly fair” offer to be made to minority shareholders in the event of a delisting.COMPANIES MARKETS 6
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    • Article
      Lock icon Shares in Sino Construction
      30 1 have shot up on news that a subsidiary has received the green light to start operations for its micro power plants in South Korea.COMPANIES MARKETS 7
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    • Article, Illustration
      Lock icon HSBC shareholders
      37 1 are weighing whether HSBC is now “too big to succeed”, and want to know next week how the bank’s bosses propose to increase profitability in a sprawling group beset by huge costs. BANKING FINANCE 14
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    • Article
      Lock icon Greece is threatening
      20 1 to miss a loan repayment to the IMF this week, opening the way for possible default.GOVT ECONOMY/18
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    • Article
      Lock icon The OECD
      24 1 on Wednesday gave the global economy only a B-minus grade for its performance, and said a failing grade was possible. GOVT ECONOMY/19
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  • Article
    Lock icon MARKETS
    26 1 Wednesday Change STI 3,349.84 +9.09 KL COMP 1,749.17 +7.80 NIKKEI 225 20,473.51 -69.68 HANG SENG 27,657.47 +190.75 SHENZHEN B 1,601.81 -5.44 DOW (11:45am EDT)18,114.31 +102.37
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  • Article
    Lock icon Government seen maintaining supply of private housing land in H2
    1212 1  -  Despite the substantial pipeline of new homes, MND has to keep in mind developers’ appetite for land at state tenders, say property consultants By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore PROPERTY consultants generally expect the authorities to either maintain the supply
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  • Article, Illustration
    Lock icon Three parties eyeing Aston Martin dealership
    785 1  -  By Samuel Ee samuelee@sph.com.sg Singapore THREE “strong” suitors are said to be wooing the Aston Martin brand here, in the ongoing shake-up of the su-per-luxury market as loan curbs and a progressive tax structure continue to exact their toll on the sale of very-high-end
    PHOTO: AFP  -  785 words
  • Page 1 Advertisements
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      Lock icon Page 1 Advertisements Column 1
      106 1 8 "*****1 *****4 BLATTER EXIT Two ex-Fifa officials put on Interpol wanted list TOP STORIES 2 STRONG DEMAND Gangbuster May for Singapore bond market companies markets 6 MALAYSIA AIRLINES Plans to hire 3,000 new staff to refresh team TOP STORIES 2 SELECTING WORKERS Guess who doesn’t fit in at work
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  • TOP STORIES
    • Article
      Lock icon M’sia Airlines set to refresh staff lineup with 3,000 hires
      575 2  -  Source says the new blood includes “specialists in critical areas”. New boss also expected to handpick top management By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore MALAYSIA Airlines plans to hire nearly 3,000 individuals across the board over the next two years
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    • Article, Illustration
      Lock icon Interpol puts two former officials on ‘red notice’ wanted list
      908 2 FIFA SCANDAL Zurich INTERPOL put two top former Fifa officials on its “red notice” wanted list at the request of US authorities on Wednesday as their investigation into corruption at soccer’s governing body gathered pace. South Africa confirmed it had
      PHOTO: AFP  -  908 words
    • Article, Illustration
      Lock icon Trialling of Smart Nation services progressing well: IDA
      1030 4  -  Smart Nation drive creating an environment that provides new growth, market opportunities for firms here, it says CommunicAsia By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore WORK on the Smart Nation is progressing well and the Infocomm Development Authority of Singapore (IDA) is
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    • Article
      Lock icon End of tapering in sight?
      146 4 MND’s Government Land Sales Programme Non-EC EC Total private housing units Commercial space (sq m GFA) Hotel rooms H1 2012 CONFIRMED RESERVE 4,120 2,900 7,020 0 0 6,560 560 7,120 218,120 4,750 H2 2012 CONFIRMED RESERVE 3,940 3,120 7,060 80,280 0 7,125 0 7,125 308,200
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    • Article
      Lock icon Singapore to boost Islamic finance regime
      505 4  -  By Fiona Lam fionalam@sph.com.sg Singapore WITH cross-border Islamic finance set to grow further, Singapore’s central bank will continue to strengthen its Islamic finance regime and capabilities, said Jacqueline Loh, deputy managing director of the Monetary Authority of Singapore (MAS). Speaking at the World Islamic
      505 words
    • Article
      Lock icon Over-allocation into cash results in returns shortfall: Manulife
      563 4  -  By Genevieve Cua gen@sph.com.sg @GenCuaBT Singapore IT’S one step forward, half-step back for savers in Singapore and most of Asia, who are striving to built up their nest egg. A study by Manulife Asset Management has found that over-allocation into cash has
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    • Article
      Lock icon George Yeo calls for nimble adaptation to changing economic circumstances
      484 4  -  By Elizabeth Mak eamak@sph.com.sg Singapore ENTREPRENEURS are the ones who sense the changes on the ground, assess the risk and then act on them, and governments must enable such adjustments to changing economic circumstances, so countries can pull out of
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    • Article
      Lock icon Malaysia’s Bank Negara launches 1MDB inquiry
      380 5  -  It has also taken statements from individuals involved in the governance of the state fund Kuala Lumpur REUTERS MALAYSIA’S central bank said on Wednesday that it has launched a formal inquiry into state fund 1MDB and issued a legal directive for information to examine
      REUTERS  -  380 words
    • Article
      Lock icon S’pore ranks 7th among top 10 destination cities
      507 5  -  By Nikita Mathur mathur@sph.com.sg Singapore SINGAPORE is once again placed among the world’s top 10 destination cities, according to this year’s MasterCard Index of Global Destination Cities (GDCI). But the Republic’s ranking has slipped to seventh place with an estimated 11.88 million
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    • Article
      Lock icon S’pore leads the way in S-E Asia in lowering emissions: report
      538 5  -  Most in region aren’t at the stage where environmental impact of economic activity starts to decrease By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore WHEN it comes to achieving cleaner growth, Singapore leads the way in South-east Asia and the rest
      538 words
  • Page 2 Advertisements
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      Lock icon Page 2 Advertisements Column 1
      242 2 X My business benefits from DBS' suite of solutions, from property loans to commercial cards, with savings on every dollar. Richardo Chua Group Managing Director Adrenalin Group i DBS Business Cards Grow your business, streamline your expenses. :-0 VISA Whether you are a new start-up or an established SME, we
      242 words
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      45 5 Here for innovators You are driven. Creating runway successes. Seizing opportunities. One boutique becomes two. Two a global empire. With the bank you can depend on. That’s good for your international aspirations. Here for good sc.com/hereforgood i w T Standard Chartered .T* w M. »JI
      45 words
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon PCRD urged to make ‘truly fair’ bid in the event of privatisation
      714 6  -  Call made by an institutional investor as stake held by Richard Li-controlled vehicles tops 86%; PCRD has clarified in May that it was not aware of any privatisation proposal By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore NOTING that Pacific
      Source: Bloomberg  -  714 words
    • Article
      Lock icon Gangbuster May for the Singapore bond market
      676 6  -  Month saw 28 deals worth S$3.4 billion, the highest monthly volume since November 2013 By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore THE Singapore bond market had a gangbuster May as corporates and investors engaged each other following a slow first quarter. May saw
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    • Article
      Lock icon Digiland acquires 65% of S’pore software maker
      438 7  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore DIGILAND, a wholly owned subsidiary of mainboard-list-ed IT and energy company Digiland International, on Wednesday said it has acquired 65 per cent (or 26,000 ordinary shares) of Singapore software maker iBase Technology International for S$26,000. “Together with
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    • CORPORATE DIGEST
      • Article
        Lock icon Jason Holdings
        208 7 JASON Holdings CEO Jason Sim has pledged his shares amounting to 15.75 per cent stake in the company to four other parties. The largest of these was the transfer of 20 million shares, or 9.26 per cent of Jason Holdings’ share capital, to Malayan Banking on May 20
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      • Article
        Lock icon Deutsche Boerse AG
        125 7 DEUTSCHE Boerse AG is planning to open a derivatives exchange in Singapore next year, joining other market operators in expanding their Asian footprint. Eurex Exchange Asia will start in the second quarter of 2016, Deutsche Boerse said on Tuesday at an event for investors and analysts. The
        125 words
      • Article
        Lock icon Pacific Healthcare
        88 7 SINGAPORE Exchange (SGX) will proceed to delist Pacific Healthcare Holdings since the latter is unable to meet the requirements for its removal from the SGX watch-list. The company will have to inform SGX about its exit offer proposal no later than a month from Wednesday (by July 3,
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    • Article, Illustration
      Lock icon Sino Construction up on nod for micro power plants
      531 7  -  Shares up 11.8% on Wednesday but are still 85% below the level at the beginning of the year HOT STOCK By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore SHARES in Sino Construction got a reprieve on Wednesday as they shot up on news
      Source: Bloomberg  -  531 words
    • Article, Illustration
      Lock icon STI / Catalist
      62 8 STI Catalist Straits Times index June 3,2015 3,349.84 +9.09 (+0.27%) Current streak 1 day Day high 3,354.46 Day low 3,337.99 52-week high 3,539.95 (Apr 15, 2015) 52-week low 3,154.21 (Oct 16, 2014) ftse ST Catalist index June3,2015 698.17 +4.40 (+0.63%) Current streak 1 day Day high 702.56 Day low 694.51
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    • Article, Illustration
      Lock icon STI regains 9 pts after 51-pt Tuesday loss
      607 8  -  Index stocks account for 76 per cent of total market volume of S$1.5 billion; Singtel leads rebound STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT AFTER Tuesday’s 51-point loss, the Straits Times Index (STI) on Wednesday managed a 9.09point rebound to 3,349.84. Turnover, which
      Source: Bloomberg  -  607 words
    • Article
      Lock icon STI STOCKS
      307 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 248 +1 251/246 271 219 5.9 6271.4 CapitaLand 341 -2 348/340 379 293 12.5 2.6 *****.6 CapitaMall Trust 218 unch 220/217 228 188.5 5 7564 CityDev 1031 +6 1039/1020 1095 915 12.4
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    • Article
      Lock icon MOST ACTIVE
      33 8 VOLUME Singtel 77,488,200 SinoConstruction 75,431,900 Noble 63,111,500 Yuuzoo 46,875,900 IHC 32,801,000 Market volume 1,559,328,000 VALUE Singtel 309,879,443 OCBC Bank 121,248,550 DBS Grp 117,072,140 UOB 96,529,049 Keppel Corp 59,670,286 Market value 1,526,277,000
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    • Article
      Lock icon SGX ETFs Most Active
      106 8 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 340 +1 448 340/338 355/319 339/340 IS MS INDIA US$ US713 -20 366 738/713 1000/696 713/716 89.1 UETF SSE50China 315 +1 92 318/314 325/140 314/316 98.4 IS ASIA HYG US$ US1072 xd 50 -/-1118/1013
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Jun 3 VALUE CLOSE BT OB/OS -554.00 -81.00 BT CADI -*****.00 -35.00 BT 10-day MA -*****.00 -55.00 FTSE ST Mid Cap 780.28 -0.85 FTSE ST Small Cap 492.01 -0.81 FTSE ST All Share 807.50 +1.49 FTSE ST China Top 214.11 -1.06 FTSE ST China 256.00 -1.11 FTSE
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    • Article
      Lock icon GAINERS
      72 8 BY CENTS CLOSE UP 52w high/low DBS Grp 2011 26.0 1.3 2123/1672 GLD US$ ***** 21.5 0.1 *****/***** DBXT MSPAKIS US$ 207.8 12.8 4.8 218.4/178.5 UOB 2272 12.0 0.5 2505/2153 DBS Bk 4.7% NCPS ***** 10.0 0.1 *****/***** BY PERCENTAGE CLOSE UP 52w high/low AsiaMedic 11 64.2 4.3 15.5/5
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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 June3,2015 807.50 +1.49 (+0.18%) Current streak 1 day Day high 808.40 Day low 805.77 52-week high 847.98 (Apr 15, 2015) 52-week low 762.71 (Oct 16, 2014)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE index June 2,2015 1,903.56 +12.35 (+0.65%) Current streak 1 day Day high 1,908.03 Day low 1,880.72 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 4 7 4 0 0 0 4 7 4 Manufacturing 48 44 46 8 12 9 56 56 55 Commerce 17 21 20 7 3 2 24 24 22 Tpt/Stor/Comms 12 14 15
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 18,514 18,514 94,252 94,252 Manufacturing 137,494 73,045 210,539 95,236 5,138 100,374 Commerce 114,969 44,754 159,723 108,851 2,090 110,941 Tpt/Stor/Comms 164,825 650 165,475 406,933 46 406,979 Finance 40,539 341 40,880 358,646 63 358,709 Construction 110,578 14,212
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    • Article
      Lock icon LOSERS
      79 8 BY CENTS CLOSE DOWN 52w high/low DBXT MSAsExJp US$ 3840 -121.1 -2.3 4064/3261 DBXT Vietam US$ 2385 -113.1 -3.4 3100/2250 DBXT MSJAP US$ 5186 -87.5 -1.2 5277/4291 JMH USD 6005 -51.1 -0.6 6788/5700 Lyxor EM Mkt US$ 1030 -39.0 -2.7 1136/985 BY PERCENTAGE CLOSE DOWN 52w high/low NobleGrpMBeCW*****1 0.1
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    • Article
      Lock icon UNUSUAL ACTIVITY
      83 8 VOL CLOSE($) CHANGE AsiaMedic 17,485.8 0.110 +0.043 +64.18 Medtecs Intl 22,311.5 0.067 +0.007 +11.67 Ace Achieve Info 700.0 0.020 +0.002 +11.11 Allied Tech 647.0 0.023 +0.002 +9.52 TT Intl 6,199.8 0.093 -0.014 -13.08 SingaporeKitchen 30.0 0.130 -0.010 -7.14 Pharmesis Intl 915.9 0.046 -0.006 -11.54 AnnAik 74.0 0.099 +0.018
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    • BROKERS’ TAKE
      • Article
        Lock icon Ezra Holdings
        122 8 Sell June 3 close: S$0.335 Fair value: S$0.26 OCBC Investment Research, June 3 EZRA Holdings has proposed a renounceable rights issue of up to 2.02 billion new shares it has also proposed an issue of fixed rate convertible bonds due 2020... Total estimated net proceeds is about US$289.5
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      • Article
        Lock icon Cache Logistics Trust
        247 8  -  Compiled by Chan Yi Wen Buy June 3 close: S$1.16 Target price: S$1.28 DBS Group Research, June 3 CACHE Logistics Trust (Cache) announced the surrender of the lease at 4 Penjuru Lane (Kim Heng Warehouse) to JTC for a consideration of S$9.7 million. Given the small operational
        247 words
    • Article
      Lock icon DATA
      21 8 I 4pm Singapore COE bidding results I 3am US Federal Reserve releases Beige Book I 9.30pm US initial jobless claims
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    • Article
      Lock icon Sterling falls after poorer UK services sector reading
      436 9 CURRENCIES REUTERS London STERLING sank by a full cent against the dollar on Wednesday after a survey of the British service sector came in sharply below forecasts, pointing to another subdued round of overall economic growth in the second quarter. The slowdown
      REUTERS  -  436 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Jun 3 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.968 4.833 0.699 6.046 49.849 103.024 0.968 8.628 2.870 1.088 79.414 34.886 1.050 9.533 0.728 24.025 26.250 0.508 0.780 Canada 1.033 4.993
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      • Article, Illustration
        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 Jun 3 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0491 1.0502 0.7795 0.7800 Canadian dollar 1.0840 1.0848 0.8057 0.8054 Euro 1.5008 1.5018 1.1151 1.1154 NZ dollar 0.9643 0.9651 0.7165 0.7168 Sterling pound 2.0670 2.0682 1.5358 1.5361
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Jun 3 S$ Bid Offer 1-month 1.3467 1.3475 2-months 1.3477 1.3486 3-months 1.3487 1.3497 6-months 1.3495 1.3505 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        398 9 Jun 3 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.85 *****.57 *****.89 Jun15 *****.50 *****.00 *****.00 *****.00 *****8 *****6 Jul15 *****.00 *****.00 *****.50 *****.00 3686 4427 NIKKEI 225 INDEX FUTURES SPOT *****.15 *****.35 *****.73 Jun15 *****.00 *****.00 *****.00 *****.00 ***** *****4 Sep15
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES Most active
        206 9 Jun 3 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left OLS Enterprise W*****5 0.3 unch 9300 1 1 30 3.33 26 DBS MB eCW*****5 11.5 0.9 6199 0.1 2050 3 Asia-Pacific Strategic W*****6 2.2 -0.2 6175 1
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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 Jun 2 Index Change Change Change Change Change Change World Preliminary 1353.7 -0.3 6.1 -0.1 6.1 0.2 4.2 EAFE Preliminary 1101.2 -0.5 11.6 0.3 9.2 0.7 7.2 Europe Preliminary 1526.4 -0.5 10.5
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 Jun 3 $S Offer Bid 0vernight 0.20 0.10 1-month 0.6875 0.5625 2-months 0.75 0.625 3-months 0.8125 0.6875 Overnight mode: 0.50 US$ 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 0.75 0.55 12
        154 words
      • Article
        Lock icon SIBOR
        36 9 Jun 3 1 mth 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 1.***** SWAP Offer rates 1 mth 0.***** 3 mths 0.***** 6 mths 0.***** Source: Thomson Reuters
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      • Article
        Lock icon GOVERNMENT SECURITIES
        67 9 Jun 3 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.33 102.42 102.42 5-Year N*****0H 1.625 01-Oct-19 99.31 99.55 99.45 10-Year NX*****Z 2.375 01-Jun-25 98.62 99.05 98.70 15-Year NY*****E 2.875 01-Jul-29 101.08 101.10 101.05 20-Year NZ*****V 3.375 01-Sep-33 106.39
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        246 9 Jun-2 Price Net change change Last Trade Agricultural Jun-2 CBOT Soybeans (US cents/bu) 940.75 14.75 1.59% 14/07/2015 CBOT Soybean Oil (US cents/lb) 34.17 -0.34 -0.99% 14/07/2015 CBOT Wheat (US cents/bu) 512.50 18.75 3.80% 14/07/2014 Jun-2 LIFFE Cocoa (£/tonne) 2111.00 17.00 0.81% 16/07/2015 LIFFE Coffee (US$/tonne) 1723.00 24.00 1.41%
        246 words
    • Article
      Lock icon MAS plans to strengthen OTC derivatives market
      453 10  -  Feedback sought on regulatory framework; plan also to refine financial advisory services rules By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore THE Monetary Authority of Singapore (MAS) has proposed measures to strengthen its oversight over capital markets intermediaries dealing in over-the-counter (OTC) derivatives, and refinements
      453 words
    • Article
      Lock icon Report says Savings Bonds will hurt economy, but few agree
      482 10  -  By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore A BANK of America Merrill Lynch report argues that the Singapore government’s upcoming Savings Bonds programme could be contractionary in a slowing economy, although most other houses hold a more benign view. Bank of
      482 words
    • Article, Illustration
      Lock icon UBS launches innovation centre in Singapore
      453 10  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore UBS has launched an innovation centre in Singapore as the world’s largest private bank steps up its digital offering to meet the demands of IT-savvy clients. The UBS Centre for Design Thinking and Innovation in Singapore is
      453 words
    • Article
      Lock icon SGX chides YuuZoo for ‘misusing SGXNet’
      330 10  -  By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore SINGAPORE Exchange (SGX) on Wednesday rapped YuuZoo Corporation for its May 21 announcement, saying that the company had misused SGXNet. Then, the social network firm had announced a positive research report about itself (published by Edison Investment Research)
      330 words
    • Article
      Lock icon Mega deals send merged companies up the ranks of world’s largest
      461 10 BLOOMBERG London THE world’s biggest companies are getting bigger, and near-record levels of dealmaking are helping. Of the 15 new entries to this year’s global top 100 companies by market value, five joined through mergers and acquisitions or a
      BLOOMBERG  -  461 words
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      Lock icon Page 6 Advertisements Column 1
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      51 words
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  • Page 10 Advertisements
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      1435 10 Singapore O&G Ltd. Caring for Women's Health SINGAPORE O&G LTD. (Company Registration Number *****0687M) (Incorporated in the Republic of Singapore on 6 January 2011) Invitation in respect of 43,600,000 New Shares comprising: (1) 2,200,000 Offer Shares at S$0.25 for each Offer Share by way of public offer; and (2) 41,400,000
      1,435 words
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  • REAL ESTATE
    • Article
      Lock icon Renewed interest in Irish trophy homes
      728 11 Property bubble of 2008 becomes a distant memory as wealthy buyers return BLOOMBERG Dublin IN a wealthy fishing village in Dublin, the Irish trophy home is making a comeback. From the top of a hill close to the Irish Sea in Howth, developer Joe
      BLOOMBERG  -  728 words
    • Article, Illustration
      Lock icon House price growth slowest in nearly two years
      416 11 UK PROPERTY REUTERS London BRITISH house prices rose at their slowest annual rate in nearly two years in May, as growth continued to moderate after dou-ble-digit increases in the middle of 2014, figures from mortgage lender Nationwide showed on Wednesday. Nationwide said
      REUTERS; PHOTO: BLOOMBERG  -  416 words
    • Article
      Lock icon New lenders jump on commercial property bandwagon
      302 11 BLOOMBERG London NEW lenders are entering the UK commercial property market at the rate of almost one a week as they seek returns that beat corporate bonds and government debt. Forty-six institutions started offering debt for the first time during the 12 months
      BLOOMBERG  -  302 words
    • Article, Illustration
      Lock icon China’s miniature home builders cut down to size
      676 11 After decade-long property boom, an extended downturn looms large AFP Shenzhen, China IN the face of an extended downturn after a decade-long property boom, China’s miniature apartment builders are finally downsizing their ambitions. China has experienced the most rapid urbanisation in human
      AFP; PHOTO: AFP  -  676 words
    • Article
      Lock icon Berlin landlords up in arms over new law
      823 12 It prohibits them from demanding rents that are over 10% higher than the area average BLOOMBERG Berlin UNTIL last week, Thomas Groth had no trouble finding young couples to pay 715 euros (S$ 1,080) a month for a one-bedroom apartment on Rauchstrasse,
      BLOOMBERG  -  823 words
    • Article, Illustration
      Lock icon Hedge funds urge Macy’s to unlock real estate value: sources
      941 12 New York SEVERAL hedge funds have asked US department store company Macy’s Inc to consider options for its real estate, including selling some major sites and then leasing them back, according to several sources close to the matter. The push
      PHOTO: BLOOMBERG  -  941 words
    • Article
      Lock icon Cheung Kong Property rises 5.9% on debut day
      402 12 BLOOMBERG Hong Kong CHEUNG Kong Property Holdings closed at HK$74.10 on its first trading day in Hong Kong after being spun off from billionaire Li Ka-shing’s conglomerate. That’s 5.9 per cent higher than the opening price of HK$70 and compares with a
      BLOOMBERG  -  402 words
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      Lock icon No homes are too luxurious for Manhattan super-rich
      778 13 Record prices cross US$100m threshold for a single apartment as agents customise residential buildings for billionaires New York INFINITY pools, climate-controlled wine cellars and golf simulators it’s the little things that count in the booming market of luxury real estate coveted by
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      Lock icon Househunt
      1471 13 Property transactions for districts 1 to 23 with contract dates between April 22 and April 28,2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED Marina Bay Suites Apt 28/04/2015 99 2045 4900 2396 District 2 NON-LANDED Dorsett Residences
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      Lock icon Shangri-La opens high-end property in Mongolia
      332 13 Ulaanbaatar SIX years after construction began, Shangri-La Hotels and Resorts opened its first property in Mongolia on Wednesday to target business travellers seeking opportunities in the nation’s nascent mining economy. The 290-room hotel and adjoining retail and office complex in downtown Ulaanbaatar represent a
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      127 11 En-bloc Sale of Fairhaven (Sophia Road) Subject Tekka Centre Istana Bt Timah Rd Selegie Rd Wilkie Rd Sophia Wilkie Edge Rochor The Atrium Orchard Plaza Singapura Orchard Rd Rd CathayCineplex PoMo St Rd Penang Dhoby Ghaut MRT Prinsep Middle Rd SOTA Park Mall NAFA Rendezvous Hotel Lane Bencoolen MRT(U/C) SMU
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      162 11 FREEHOLD HOTEL LAND IN PATONG, PHUKET PATONG BEACH Thaweewong Road Rat-U-THIT 200 Pee Road I* Patong OTOP Jungceylon Phungmuang A.Road Ban San Market SUBJECT SITE I a Patong Hospital 3 Police o Station Hotel Land located in the heart of Patong Near Patong Beach (50 metre), Bangla Road and Junceylon
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      48 12 THE AUTHORITY ON ALL THINGS AUTOMOTIVE IT’S OUR 25TH BIRTHDAY, BUT YOU GET THE PRESENTS! OVER $25,000WORTHOFPRIZESUP FORGRABS FORMULAONEAFTER-PARTYPASSES SUPERCAR STREETCIRCUITTOURS CAR GROOMING PACKAGES NEWLOOK! F1 SIMULATOR DRIVES FUN KARTING PASSES HOWTOWIN GRAB A COPY OF TORQUE JUNE ANNIVERSARY ISSUE (IN PRINT OR DIGITAL) TO JOIN THE CONTEST!
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      79 12 Australian Property Finance Have you recently bought an Australian property and need a loan to complete the transaction? Already own and want to ensure you have the best loan? CONTACT SPECIALIST MORTGAGE HERE IN SINGAPORE FOR FREE IMPARTIAL ADVICE TO REVIEW ALL OF YOUR OPTIONS. Web www.smats.net Email smats@smats.net 10
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      48 12 Unique Conservation Shophouse CBD AREA FULL COMMERCIAL NO ABSD M. 3 n i us. For Sale by Owner (Eugene) 9753 2056 Rare Freehold Shophouse Keong Saik Area Land: 1,317 sqft Built-in: 2,810 sqft est •> 3% Yield Chic dining enclave •2 mins walk to MRT Ideal investment Agents welcome
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Opec finds oil output consensus: ‘Don’t rock the boat’
      524 15 Members are set to keep production ceiling unchanged with prices having stabilised and competition abated Vienna OPEC (Organization of the Petroleum Exporting Countries) is set to carry on pumping oil nearly flat-out for months more, content that last year’s shock market
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      Lock icon Big oil firms the casualty in Opec’s shale war
      787 15 BLOOMBERG London WHEN Opec started a price war last November, driving oil down to its current US$65 a barrel, US shale drillers looked doomed. Six months later, it’s the world’s largest oil companies that are emerging as the unexpected casualties. The
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      Lock icon BASF’s Wintershall keen on more Russia investments
      365 15 REUTERS Paris BASF oil and gas subsidiary Wintershall is keeping faith with its Russian investments and wants to do more there, despite tense relations between Moscow and Europe over Ukraine. New chief executive Mario Mehren said that the German group’s joint exploration with
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      Lock icon Iran’s million-barrel conundrum brings battle back inside Opec
      554 15 BLOOOMBERG Dubai JUST when it looked like Opec (Organization of the Petroleum Exporting Countries) was winning the war with US shale-oil drillers, a new front is opening up within its own ranks. The Opec’s summit on June 5 to determine the group’s
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      575 15 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF AUSTVALE HOLDINGS LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) (Co. Reg. No. *****1144G) NOTICE OF RESOLUTIONS At the Extraordinary General Meeting of Austvale Holdings Ltd duly convened and held on the 27th day of May 2015, the following
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  • TECHNOLOGY
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      Lock icon Indian Ivy League graduates flock to technology boom back home
      1550 16 They return to find a technology industry with more green-field opportunities than Silicon Valley BLOOMBERG New York KUNAL Bahl’s American dream was coming together in late 2007. He had Ivy League degrees in business and engineering, a debut job at
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      Lock icon IDA programme to support young tech firms bears results
      286 16  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore A PROGRAMME by the Infocomm Development Authority of Singapore (IDA) to help young Singapore-based technology companies has borne fruit: two out of the eight supported firms have clinched new government projects, and three other projects
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      Lock icon DirectTV deal: AT&T may abide by new net neutrality rules
      701 16 WP Washington IN A few weeks, federal regulators are likely to approve AT&T’s US$49 billion purchase of DirecTV. To seal the deal, AT&T is expected to make several promises to soothe concerns that the acquisition could hurt consumers. AT&T is
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      30 16 Paint the town red, or just your room Find painters to do the job or promote your services in CLASS 112 To advertise, call the Print Classified Hotline: 1800-289 9988
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  • CONSUMER
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      Lock icon Pin and shop on Pinterest with ‘buyable pins’
      656 17 Users interested to buy items they see posted on Pinterest will be directed to outside websites AFP San Francisco PINTEREST has said that it is diving into e-commerce with “pins” that let people buy items that they like at the popular online
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      Lock icon Bruised, Herbalife swings back at an accuser
      1212 17 NYT New York THIS Wall Street brawl began with a billion-dollar bet. Then, William Ackman, the investor who landed the first blow with his bet against Herbalife, escalated the fight. He called the multibillion-dollar nutritional supplements company a “pyramid scheme”, likening its practices
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      Lock icon What’s next for Huffington Post?
      1346 17 NYT New York OVER the last couple of years, an array of media companies, venture capitalists and wealthy individuals have quietly explored buying a stake in The Huffington Post. The most recent valuation, according to half a dozen people briefed on the matter: about US$1
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  • GOVERNMENT & ECONOMY
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      Lock icon Time running out for Greece to strike a deal
      964 18 It is due to repay the IMF 300m euros on June 5 but will miss the deadline if there’s no aid package REUTERS Athens GREECE is threatening to miss a loan repayment to the IMF this week, opening the way for
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      Lock icon QE proving its worth as economy is on track as projected: ECB chief
      574 18 BLOOMBERG Frankfurt MARIO Draghi has said that monetary policy stimulus is filtering through to the economy as planned, as he insisted the European Central Bank (ECB) needs to see its bond-buying plan through to the finish. “The
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      Lock icon South Korea bent on stopping any further spread of Mers
      617 18 It also confirms five more cases of infection on Wednesday Seoul SOUTH Korean President Park Geun-hye said on Wednesday that everything must be done to stop Middle East Respiratory Syndrome (Mers) as fears of the disease caused hundreds of schools
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      Lock icon European business lobby slams China’s draft national security law
      367 18 REUTERS Beijing CHINA’S draft National Security Law is excessively broad and would isolate the country from crucial technologies, a European business lobby said on Wednesday, in the latest backlash from foreign industry over a suite of pending Chinese regulations. Provisions to
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      Lock icon Global economy in danger of stalling: OECD
      782 19  -  Economic recovery from 2008 financial crisis has been weak; public and private investments have been tepid, and productivity growth, disappointing By Anthony Rowley btworld@sph.com.sg Tokyo IN a sobering assessment of near-term international economic prospects, the Organisation for Economic Co-opera-tion and Development (OECD) on
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      Lock icon Blatter exit flags Platini’s emergence as potential heir
      1183 20 He is the man most likely to lead soccer’s governing body into a new era, according to the bookies FIFA SCANDAL BLOOMBERG Rio de Janeiro IT didn’t take long for oddsmakers to get over the surprise resignation of Fifa president Sepp Blatter
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      Lock icon New Swiss law to target graft in world sporting bodies
      588 20 It will allow prosecutors to launch corruption probes against Fifa, IOC and others AFP Geneva WITH the scandal at football’s governing body raging, the upper house of Switzerland’s Parliament voted through a bill on Wednesday dubbed “Lex FIFA”, aimed at
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      Lock icon Qatar outlook trumps World Cup risk as stocks pare sell-off
      537 20 BLOOMBERG Dubai QATARI shares nearly erased the biggest drop in two months as investors shrugged off concern the Gulf nation may lose the right to host soccer’s World Cup following the resignation of Fifa’s president. The QE Index closed little
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      Lock icon Russia continues preparations for 2018 World Cup
      319 20 AFP Moscow RUSSIA is going ahead with preparations for the 2018 World Cup despite the shock resignation of Fifa boss Sepp Blatter amid a high-profile corruption scandal, the Kremlin said on Wednesday. “The main thing is Russia is continuing preparations for the 2018
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      Lock icon More pain than gain seen for China economy
      852 21 It will take time before reforms turn net positive, Beijing needs to do more for a turnaround REUTERS Shanghai CHINA’S economic growth, already at its slowest in decades, will get worse before it gets better, as economists say it will take time
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      Lock icon No further rate cuts, says Thai finance minister
      394 21 REUTERS Bangkok THAILAND’S finance minister said on Wednesday that there was no need for further monetary policy easing as two recent interest rate cuts were already sufficient to help the struggling economy. “Our interest rate is the lowest in Asean,” Sommai Phasee
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      Lock icon Aussie savings at the lowest in 7 years
      405 21 BLOOMBERG Sydney AUSTRALIANS are saving the least since the global financial crisis, helping the economy grow faster than expected even as business investment waned. The nation’s savings ratio dropped to 8.3 per cent, the lowest since 2008, data showed on Wednesday. Household
      BLOOMBERG  -  405 words
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      Lock icon Modi’s income insurance plan may not ease rural distress
      513 21 Small farms stand to gain little, scheme likely to be put off by bureaucracy REUTERS New Delhi INDIAN Prime Minister Narendra Modi plans to provide millions of farmers with income insurance linked to crop prices, officials say, but it may not
      REUTERS  -  513 words
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      17 19 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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      2567 19 THE BUSINESS TIMES NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.sphclass.com.sg/notices FRASERS COMMERCIAL TRUST (Constituted in the Republic of Singapore pursuant to a trust deed dated 12 September 2005 (as amended or restated)) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an EXTRAORDINARY GENERAL MEETING of Frasers Commercial Trust
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      68 21 HOT PROPERTY BEDOK RIA PL, 2-sty terr, 4 bdrm, Gdn, Spacious, quiet, near MRT/ amenities, Immed D.13 MEDALLION CLUSTER bunglw hse 4+1 rms. Condo facilities. Next to Austalian Sch. $7.5K neg. Immed. DAISY AVE 2 sty inter terr. 3 bdrms. P/furn. Big kitchen. No noon sun. Near MRT. Chinese landlord.
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      38 21 SINGAPORE’S NEW TRACK 4x100 relay record-breaker Smriti Menon is also a bharatanatyam dancer STAR AKSHAYA PATRA FOUNDATION FEEDS 1.4M SCHOOL CHILDREN DAILY GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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  • TRANSPORT
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      Lock icon Search for missing passengers continues as death toll rises to 18
      836 22 Divers work through the night but face difficulties such as cabin doors blocked by tables and beds YANGTZE RIVER MISHAP REUTERS Jianli, China SCORES of divers cautiously searched a capsized ship in the Yangtze River on Wednesday for more
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      Lock icon Safety of cruiseships in China waterways under renewed scrutiny
      899 22 NYT Beijing FOR much of recorded history, travelling up the Yangtze had meant braving turbulent currents and shoals. In recent years, a more prosaic risk has been growing: poorly maintained ships and inexperienced crews. Nature can still play a role. Initial
      NYT  -  899 words
    • Article
      Lock icon Passenger growth at Changi Airport edges up in April
      313 22  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore CHANGI Airport handled 4.39 million passengers in April, a slight growth of 0.2 per cent over the same period last year, despite a reduction in the number of operating flights. Aircraft movements slipped 0.4 per
      313 words
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      Lock icon Boeing starts building first 737 MAX jet as planned
      417 22 REUTERS Renton, Washington BOEING Co said on Tuesday that it has started building its first 737 MAX single-aisle jetliner on schedule, an important milestone for a new plane model that accounts for nearly half of the company’s plane orders. The first
      REUTERS; PHOTO: BLOOMBERG  -  417 words
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    991 23 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville APL Columbus V010E 23 May 06 Jun 22 Jun 26 Jun 29 Jun 01 Jul 03 Jul 06 Jul 08 Jul 10 Jul 10
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      179 23 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced shf 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 Corporate Development Come publicise your
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  • OPINION
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      Lock icon Japan’s economy is still recovering so Abe shouldn’t overreach
      581 24 EDITORIAL JAPAN’S economy is rather like the proverbial duck that appears to glide effortlessly across a pond while paddling furiously beneath the surface to maintain momentum. It is a valid question to ask how long this sleight of hand (or foot
      581 words
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      Lock icon Putting economic models in their place
      808 24  -  THE BOTTOM LINE By J Bradford DeLong T The writer is professor of economics at the University of California at Berkeley and a research associate at the National Bureau of Economic Research PROJECT SYNDICATE WHEN policymakers turn to economists for guidance, they expect the
      PROJECT SYNDICATE  -  808 words
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      Lock icon Guess who doesn’t fit in at work
      1276 24 Cultural fit has become a potentially dangerous concept, but when done carefully, this way of selecting workers can make firms more productive and profitable. BY LAUREN A RIVERA NYT ACROSS cultures and industries, managers strongly prize “cultural fit” the idea that the best
      NYT; PHOTO: KUA CHEE SIONG/THE STRAITS TIMES  -  1,276 words
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      Lock icon IMF reform: Time to go back to the drawing board
      1003 25  -  COMMENTARY By Desmond Lachman T The writer is a resident fellow at the American Enterprise institute. He was formerly a deputy director in the International Monetary Fund’s Policy Development and Review Department and the chief emerging market economic strategist at
      OMFIF BRIEFING  -  1,003 words
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      Lock icon Game-changer in the ‘Future-Ready’ Age
      985 25  -  By Vivek Kumar T The writer is director of the National Trades Union Congress’ U Associate Future Leaders programmes and secretary of the NTUC Membership Council “THE future belongs to those who prepare for it today.” Malcolm X In an economic environment that is in
      985 words
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      Lock icon G-7’s role as actor in international security under-appreciated
      1061 25  -  It has been panned for lacking UN’s clout, but it could prove its worth in managing the Ukraine issue. BY ANDREW HAMMOND BY ANDREW HAMMOND T The writer is an associate at LSE IDEAS (the Centre for International Affairs, Diplomacy and Strategy)
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  • LIFE & CULTURE
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      Lock icon EPL to leave its mark at National Stadium
      657 26  -  Top premier league stars coming to play in Barclays Asia Trophy By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore TWO years ago, when the English Premier League (EPL) was hunting for a city to host its popular Barclays Asia Trophy tournament in 2015, it
      FILE PHOTO  -  657 words
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      Lock icon Living it up in the ‘village in the city’
      422 26  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore TWENTY hotels in Singapore have been designated as official hotels of the 28th South East Asia (Sea) Games, with three of these belonging to the Millennium Copthorne Hotels (M&C) group. More than 500 rooms across
      422 words
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      Lock icon Eyes on the prize as art flippers target masterpieces
      1073 26 BLOOMBERG New York IN November, a painting of a pensive young woman by French artist Francis Picabia sold for 145,000 euros (S$217,000) at auction in Paris. Six months later, the same 1940s work appeared at Christie’s in New York, and at
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,073 words
  • Page 26 Miscellaneous
    • Miscellaneous
      Lock icon Page 26 Miscellaneous Column 1
      335 26 CRYPTIC CROSSWORD Across 3 Bonus for each is accepted by all (10) 8 Arrived ahead of artist, producer of pictures (6) 9 Delicious food in bar? I am so mistaken (8) 10 Following each one in spite of everything (5,3) 11 Meet in battle and swear to marry? (6) 12
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