The Business Times, 12 June 2015

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Total Pages: 28
1 28 The Business Times
  • 31 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 Friday, June 12,2015
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  • DAILY DIGEST
    • 24 1 outbreak has forced the central bank to cut its key interest rate to ward off greater economic damage. TOP STORIES 2
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    • 28 1 opened its Asia-Pacific headquarters in Singapore with a plan to expand operations and add more than 100 jobs over the next few years.TOP STORIES 4
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    • 19 1 Singapore is making some top-level changes amid a quiet Singapore equities market. COMPANIES MARKETS 5
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    • 30 1 has entered into a strategic tie-up with Mitsui Co and JA Mitsui Leasing which will see the two buy a 49% stake in the firm. COMPANIES MARKETS 6
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    • 25 1 an “outdated” ban on oil exports to take full advantage of its hydraulic fracturing boom, says a report. ENERGY COMMODITIES 11
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    • 21 1 and funding an independent company dedicated to coming up with new technologies to improve urban life. TECHNOLOGY 12
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    • 24 1 a ban imposed by India on its Maggi instant noodles after tests showed they contained high levels of lead. CONSUMER 13
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    • 22 1 personal items belonging to the late Lee Kuan Yew have been donated to the National Heritage Board. GOVT ECONOMY/14
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    • 28 1 predicted that emerging economies will face “tough challenges” this year from a likely rise in global interest rates and currency SWingS. GOVT ECONOMY 14
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    • 17 1 investment growth continued to fall in the first five months of 2015. REAL ESTATE/15
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    • 22 1 works to untangle itself from legacy issues, its rival AirAsia is bending under the weight of competition.TRANSPORT 18
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  • 28 1 Thursday Change STI 3,347.67 +21.90 KL COMP 1,734.76 -0.87 NIKKEI 225 20,382.97 +336.61 HANG SENG 26,907.85 +220.21 SHENZHEN B 1,562.23 +4.51 DOW (11:45 am EDT) 18,061.99 +61.59
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  • 853 1  -  The move shows its confidence that its demand-side cooling measures will continue to dampen the market By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore AS expected, the Singapore government is continuing to trim the private residential land supply in the second half of the
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  • 746 1  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore SINGAPORE and Thailand want to deepen their economic relations and promote greater business-to-busi-ness cooperation in the coming years, said Prime Minister Lee Hsien Loong on Thursday, following a retreat with his Thai counterpart Prayut Chan-o-cha. Speaking during a
    PHOTO: DESMOND WEE / THE STRAITS TIMES  -  746 words
  • Page 1 Advertisements
    • 91 1 8 "*****1 *****4 REELPOLITIK The OPEN showcases a strong slate of political films LIFESTYLE 22 MERS JITTERS Global inter-connectivity means Mers will come to Singapore in time: PM Lee TOP STORIES 2 NOBLE Shares rebound on chairman’s pledge to ‘right the damage’ companies MARKETS 5 B V LG A R
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  • TOP STORIES
    • 765 2  -  There’s no need to panic if systems are prepared to cope with it, he says, after visiting TTSH facilities MERS JITTERS By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore IT is “a matter of time” before Singapore has its first
      PHOTO: LAU FOOK KONG/THE STRAITS TIMES  -  765 words
    • 327 2  -  By Nikita Mathur mathurn@sph.com.sg Singapore what is Mers-Cov? The Middle East respiratory coronavirus (Mers-CoV) is a respiratory illness which has spread globally recently, particularly in the Middle East and South Korea. The disease, a cousin virus of the severe acute respiratory syndrome coronavirus (Sars-CoV), can cause
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    • 793 2 Central bank brings policy rate down by 25 basis points to record-low 1.5% as 14 new cases and a 10th fatality are reported REUTERS AFP Seoul A DEADLY outbreak of Middle East respiratory syndrome (Mers) forced South Korea to cut interest rates
      REUTERS; AFP  -  793 words
    • 327 2 BLOOMBERG Hong Kong WHEN images of spacesuit-clad health workers cordoning off a Hong Kong clinic over a suspected Mers case appeared online this week, the effects were immediate: stocks dropped and a social media frenzy began. The patient in
      BLOOMBERG  -  327 words
    • 484 2 REUTERS Seoul THE man who became South Korea’s Middle East respiratory syndrome (Mers) patient number 14 waited two-and-a-half days in the emergency ward for a bed to open at a prestigious Seoul hospital not an unusually long time for the city’s
      REUTERS  -  484 words
    • 657 4  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore SINGAPORE crowdfunding platform Crowdonomic has been named a registered equity crowdfunding (ECF) platform in Malaysia by the Securities Commission Malaysia (SC). Crowdonomic is said to be the first and only homegrown platform to be conferred this
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    • 656 4  -  Already, Hongkong Land says it’s keen, citing the site’s good location and supply absorption by 2021 By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore A PLUM site at Central Boulevard, straddling the old Shenton Way financial district and the new Marina Bay downtown, has caught
      BT Graphics Source: URA  -  656 words
    • 647 4  -  It plans to expand operations in the region as it officially opens its regional HQ in Singapore By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore ONLINE social networking service Twitter officially opened its AsiaPacific headquarters in Singapore on Thursday with a
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    • 539 4  -  A grid-scale energy storage system can mitigate the intermittent nature of solar energy: ST Kinetics ENERGY FORUM By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore SINGAPORE’S fast-increasing adoption of renewable energy, especially solar power, could eventually pose a threat to
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    • 609 4  -  NECF will be a reference for the industry to guide its HR policies in talent attraction and retention, and staff development By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore A NEW framework that seeks to boost manpower capabilities in Singapore’s power
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  • Page 2 Advertisements
    • 28 2 Blow your own trumpet Buy new musical instruments or put up your old ones for sale in CLASS 72 To advertise, call the Print Classified Hotline: 1800-289 9988
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  • COMPANIES & MARKETS
    • 792 5  -  HOCK LOCK SIEW BY R SIVANITHY sivan@sph.com.sg @RSivanithyBT SHARES in commodities firm Noble Group may have enjoyed some respite from their recent weakness when they bounced S$0.06 from a six-year low to close at S$0.705 on Thursday after its chairman Richard Elman sent a
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    • 735 5  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore SHARES in Noble Group have rebounded after its founder said the commodity trader will “right the damage” and do its best to restore the share value, even as a rating agency revised its outlook
      PHOTO: BLOOMBERG; Source: Bloomberg  -  735 words
    • 285 5  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore BROKERAGE Maybank Kim Eng Singapore is making some top-level changes amid a quiet Singapore equities market. It has promoted its retail equities head Chuah Lai Hock to chief financial officer with effect from July 1, a spokesman
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    • 230 5  -  LETTER Richard Elman Chairman, Noble Group WE have all been through difficult times in the past weeks. There have been a lot of rumours, gossip, inaccurate statements and commentary from people who have nothing to do with Noble and probably do not even
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    • 346 6  -  Mitsui Co and JA Mitsui Leasing to take 49% stake in heavy lifting and haulage player By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore HUATIONG Holdings has entered into a strategic relationship with Mitsui Co and JA Mitsui Leasing (JAML), which will see the latter two
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    • 430 6  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore THE interests of the wealthy can be harnessed to help countries fight inflation, said a visiting economist from the Haas School of Business in University of California, Berkeley. “If the government creates a
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    • 405 6 BLOOMBERG Singapore AUSTRALIAN and Japanese government bonds dropped, sending benchmark yields in both countries to the highest this year, on signs of economic improvement. The government securities sold off amid a global fixed-income slump after investors balked at record-low yields
      BLOOMBERG; PHOTO: BLOOMBERG  -  405 words
    • CORPORATE DIGEST
      • 93 6 GLOBAL Logistic Properties (GLP) said it has not entered into any binding contracts, after reports said that it was in early talks to buy more than 200 warehouses, valued at about US$4.5 billion, in the United States. “The company wishes to also clarify that as part of
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      • 76 6 OTTO Marine’s subsidiary Swordfish 1 has entered into a long-term bareboat charter contract worth US$27 million. The contract is for the provision of a 238-men work maintenance vessel to an offshore operator in South-east Asia, the offshore and marine company said. The vessel is expected to be delivered
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      • 100 6 EMAS Offshore has clinched a charter contract valued at more than US$30 million. The contract was awarded by EMAS AMC, a wholly owned subsidiary of 75.5 per cent EMAS Offshore shareholder Ezra Holdings, following a competitive tender process, the company said. The work is part of a larger
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      • 79 6 SINGAPORE eDevelopment issued a profit warning on Thursday, saying that it expects to report a loss for the half-year ending June 30, 2015. Explaining the projected loss, the group said it expects low revenue to be recognised for the period under review as projects under its property division
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      • 78 6 TIH Limited, formerly known as Transpac Industrial Holdings, entered into a shareholders’ agreement on Wednesday with three wholly controlled subsidiaries of investment funds managed by Argyle Street Management Limited to invest in Chang Chun Road Limited (CCRL). CCRL is formed solely for the purpose of participating in a
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      • 57 6 SINGAPORE Exchange (SGX) informed the public on Thursday that some customers may have received erroneous May 2015 Central Depository printed account statements. “We sincerely apologise for any inconvenience caused and are working with our vendor to investigate and resolve the issue,” it said, adding that it will provide
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    • 438 7  -  “Eight-figure” round of funding co-led by existing shareholder and new China investor By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore GOGOVAN, an on-demand delivery van startup backed by Singa-pore-based Centurion Private Equity, on Thursday said it has bagged an “eight-figure” Series B+ round of funding
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    • 489 7  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore MOODY’S maintained its Ba3 rating on Singapore-listed Yanlord Land Group with stable outlook, citing the developer’s adjusted sales execution to meet mass-market demand, an improving land bank distribution, and good access to debt and
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    • 396 7  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore STEEL trader Albedo Limited said it has agreed to acquire a majority stake in a Taiwanese aesthetic medicine group. Under a conditional sale and purchase agreement inked on Thursday, Albedo agreed to buy a 51 per
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    • Article, Illustration
      63 8 STI Catalist Straits Times Index June 11,2015 3,347.67 +21.90 (+0.66%) Current streak 2 days Day high 3,358.77 Day low 3,336.67 52-week high 3,539.95 (Apr 15, 2015) 52-week low 3,154.21 (Oct 16, 2014) FTSE ST Catalist index June 11,2015 679.84 +4.09 (+0.61%) Current streak 2 days Day high 683.06 Day low
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    • 660 8  -  Gain of 52 points in two days enables the index to recover the loss it had suffered in the previous four sessions STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT WALL Street’s Wednesday rally helped extend the Straits Times Index’s (STI) rebound to a
      Source: Bloomberg  -  660 words
    • 307 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 238 unch 241/237 271 219 6.1 6018.5 CapitaLand 338 -3 344/337 379 293 12.4 2.7 *****.6 CapitaMall Trust 209 -1 212/208 228 188.5 5.2 7251.7 CityDev 979 unch 980/978 1095 915 11.8
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    • 34 8 VOLUME Noble 167,892,200 Debao Property 80,021,500 StratechGroup 65,222,800 Digiland Intl 59,782,600 Yuuzoo 46,296,900 Market volume 1,641,529,000 VALUE DBS Grp 166,232,917 Noble 112,999,771 Singtel 108,488,005 OCBC Bank 84,865,835 UOB 65,939,359 Market value 1,318,543,000
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    • 108 8 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap Lyxor World US$ US181 -0.1 128 181/180.9 182/160.8 181/181.5 18.1 DBXT MSRussia US$ US210 +2 104 212/210 302/140 209/210 DBXT MSAsExJp US$ US3714 -46 91 3746/3706 4064/3261 3714/3724 8.5 IS MS INDIA US$ US711 -9 90
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    • 77 8 Jun 11 VALUE CLOSE BT OB/OS -770.00 +155.00 BT CADI -*****.00 +65.00 BT 10-day MA -*****.00 -77.00 FTSE ST Mid Cap 764.02 +2.29 FTSE ST Small Cap 481.03 +1.56 FTSE ST All Share 803.31 +4.65 FTSE ST China Top 209.02 +1.09 FTSE ST China 248.19 +1.67 FTSE
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    • 35 8 STI FTSE ST All-Share ftse ST All-Share index June 11,2015 803.31 +4.65 (+0.58%) Current streak 2 days Day high 805.42 Day low 801.38 52-week high 847.98 (Apr 15, 2015) 52-week low 762.71 (Oct 16, 2014)
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    • 33 8 STI MSCI EAFE MSCI EAFE Index June 10,2015 1,892.67 +34.21 (+1.84%) Current streak 1 day Day high 1,897.43 Day low 1,862.41 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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    • 186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 3 6 0 0 0 6 3 6 Manufacturing 57 42 35 16 9 11 73 51 46 Commerce 14 17 23 3 6 3 17 23 26 Tpt/Stor/Comms 17 16 8
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    • 123 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 13,796 13,796 60,112 60,112 Manufacturing 136,094 81,975 218,069 96,793 8,335 105,128 Commerce 277,698 42,718 320,416 156,869 2,370 159,239 Tpt/Stor/Comms 168,695 499 169,194 220,951 35 220,986 Finance 27,543 138 27,681 342,561 26 342,587 Construction 43,623 3,844
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    • 75 8 BY CENTS CLOSE UP 52w high/low DBXT E50 US$ 5128 124.0 1.8 5630/4562 DBXT Vietnam US$ 2480 53.9 1.6 3100/2250 JSH USD 3186 51.2 1.2 3810/3094 Lyxor MS India US$ 1589 32.3 1.5 1840/1565 DBS Grp 2120 27.0 1.3 2140/1672 BY PERCENTAGE CLOSE UP 52w high/low S i2i 0.2
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    • 74 8 BY CENTS CLOSE DOWN 52w high/low DBXT MSAsExJp US$ 3714 -62.0 -1.2 4064/3261 Lyxor AsiaRE US$ 1038 -40.4 -2.8 1114/916 IPCCorp 1 133 -30.0 -18.4 163.5/123 AliPictures HKD 200 -26.9 -43.7 355/105 IS MSCI SIN US$ 1291 -20.2 -1.1 1415/1239 BY PERCENTAGE CLOSE DOWN 52w high/low AliPictures HKD 200
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    • 85 8 VOL CLOSE($) CHANGE S i2i 12,482.0 0.002 +0.001 +100.00 Renewable Energy 718.4 0.026 -0.006 -18.75 Mercator Lines 11,185.2 0.022 +0.003 +15.79 Debao Property 80,021.5 0.086 +0.010 +13.16 Edition 2,779.0 0.012 -0.007 -36.84 China Great Land 60.1 0.011 +0.002 +22.22 LottVision 6,490.2 0.006 +0.001 +20.00 Yamada Green Res 1,375.2
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    • BROKERS’ TAKE
      • 152 8 Hold June 11 close: S$4.17 Target price: S$4.50 May bank Kim Eng, June 11 TWO things stood out from Singtel’s annual Investor Day. One, the entire group is aggressively pursuing data growth. Two, the group has taken to heart the digital initiatives of Group Digital Life and has launched
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      • 153 8 Buy June 11 close: S$0.825 Target price: S$0.88 OCBC Investment Research, June 11 OUE Commercial Reit announced that it has entered into a conditional sale and purchase agreement with its sponsor OUE Limited to acquire an indirect interest in One Raffles Place via the acquisition of between
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      • 191 8  -  Compiled by Melissa Tan Buy June 11 close: S$2.14 Target price: S$2.86 UOB Kay Hian, June 11 MEETING with management suggests that the group’s London properties look poised to contribute significantly to recurring income over the next few years. Last year’s London acquisitions look to inject greater
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    • 430 9 CURRENCIES REUTERS London THE New Zealand dollar slumped 2.6 per cent to a five-year low against the US dollar on Thursday, after the Reserve Bank of New Zealand cut interest rates and suggested more easing may follow. The kiwi was on
      REUTERS  -  430 words
    • FOREX RATES
      • 471 9 Jun 11 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.952 4.803 0.687 6.000 49.494 103.013 0.956 8.608 2.900 1.103 78.777 34.913 1.043 9.625 0.723 23.945 26.101 0.501 0.774 Canada 1.050 5.043
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      • Article, Illustration
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      • 155 9 Jun 11 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0426 1.0436 0.7738 0.7741 Canadian dollar 1.0946 1.0957 0.8127 0.8124 Euro 1.5168 1.5177 1.1257 1.1258 NZ dollar 0.9452 0.9462 0.7015 0.7019 Sterling pound 2.0807 2.0823 1.5442 1.5446
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      • 22 9 Jun 11 S$ Bid Offer 1-month 1.3479 1.3488 2-months 1.3485 1.3496 3-months 1.3492 1.3504 6-months 1.3512 1.3525 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • 410 9 Jun 11 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.73 *****.86 *****.03 Jun15 *****.00 *****.00 *****.00 *****.00 *****2 *****8 Jul15 *****.50 *****.00 *****.00 *****.00 ***** ***** NIKKEI 225 INDEX FUTURES SPOT *****.61 *****.97 *****.04 Jun15 *****.00 *****.00 *****.00 *****.00 *****2 *****9 Sep15
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      • 206 9 Jun 11 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left WE Holdings Ltd W*****5 0.2 unch ***** 1 0 2 Metech Int W*****6 0.1 unch 8434 1 2 0 KepCorp MB eCW*****2 9 0.6 5885 0.2 915
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      • 373 9 In local curr In S$ In US$ dy yr dy yr dy yr Jun 10 Index Change Change Change Change Change Change World Preliminary 1342.9 1.1 5.3 0.6 5.3 1.4 3.9 EAFE Preliminary 1081.9 0.9 9.6 1.0 8.0 1.8 6.6 Europe Preliminary 1507.1 1.5 9.1
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    • BANK RATES
      • 36 9 Jun 11 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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      • 154 9 Jun 11 $S Offer Bid 0vernight 0.05 0.01 1-month 0.6875 0.5625 2-months 0.75 0.625 3-months 0.8125 0.6875 Overnight mode: 0.05 US$ Offer Bid 7 days 0.18 0.08 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 0.80 0.60 12
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      • 63 9 Jun 11 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.36 102.42 102.42 5-Year N*****0H 1.625 01-Oct-19 98.89 99.07 98.99 10-Year NX*****Z 2.375 01-Jun-25 96.89 96.90 96.75 15-Year NY*****E 2.875 01-Jul-29 99.42 20-Year NZ*****V 3.375 01-Sep-33 104.51 30-Year NA*****N
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    • AGRI METALS ENERGY
      • 249 9 Jun-10 Price Net change change Last Trade Agricultural Jun-10 CBOT Soybeans (US cents/bu) 949.50 -2.00 -0.21% 14/07/2015 CBOT Soybean Oil (US cents/lb) 33.87 -0.06 -0.18% 14/07/2015 CBOT Wheat (US cents/bu) 513.50 -18.75 -3.52% 14/07/2014 Jun-10 LIFFE Cocoa (£/tonne) 2096.00 -1.00 -0.05% 16/07/2015 LIFFE Coffee (US$/tonne) 1740.00 6.00 0.35%
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  • Page 5 Advertisements
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  • Page 6 Advertisements
    • 1383 6 EFG BANK AG Head Office: Bleicherweg 8, P.O. Box 2255, 8022 Zurich, Switzerland. www.efgbank.com Singapore Branch: #07-00 EFG Bank Building, 25 North Bridge Road, Singapore *****4. Tel: +(65) 6595-4888 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2014 BALANCE SHEET FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2014 INCOME
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  • Page 7 Advertisements
    • 1813 7 NOTICE OF ANNUAL GENERAL MEETING a-hhrush ascendas hospitality trust A stapled group comprising: ASCENDAS HOSPITALITY REAL ESTATE INVESTMENT TRUST (a real estate investment trust constituted on 13 March 2012 under the laws of the Republic of Singapore) managed by Ascendas Hospitality Fund Management Pte. Ltd. ASCENDAS HOSPITALITY BUSINESS TRUST (a
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  • BANKING & FINANCE
  • Page 10 Advertisements
    • 129 10 I different beers J ciders > IT’S GONNA GET LOUD WHEN YOU DRINK WHOLE LOTTA BEER ROCK WITH MORE THAN 18 INTERNATIONAL AND SINGAPORE BANDS i f r mS y til RE '■V *******************************************************1111II************************************************************1111 IT Tickets from s$l5* Organisers timbre I group v s p h ere Official Music Partner
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  • ENERGY & COMMODITIES
  • Page 11 Advertisements
    • 213 11 m I >7 ff 7 Pamper Dad at Peach Blossoms 15 21 June 2015 Treat Dad to a special set menu this Father’s Day at Peach Blossoms. Indulge in classic Cantonese dishes featuring Barbequed Meat Duo Combination, Double-boiled Clear Soup with Baby Abalone and Water Chestnut, Poached Live Prawn Served
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  • TECHNOLOGY
    • 508 12 Sidewalk Labs will develop technologies to cut pollution, curb energy use and streamline transportation NYT New York GOOGLE’s ambitions and investments have increasingly broadened beyond its digital origins in Internet search into the arena of physical objects: self-driving cars, Internet-con-nected eyeglasses, smart
      NYT  -  508 words
    • 768 12 NYT Redmond, Washington THERE is nothing ordinary about Surface Hub, a gargantuan touch-screen computer that Microsoft is about to start selling to companies as a high-tech replacement for conference room whiteboards. The largest Surface Hub, measuring 84 inches (213 centimetres) diagonally, looks like
      NYT; PHOTO: NYT  -  768 words
  • Page 12 Advertisements
    • 1573 12 THE BVI BUSINESS COMPANIES CHEMICAL INDUSTRIES (FAR EAST) LIMITED. 3 JALAN SAMULUN, SINGAPORE *****7. TEL: 6265 0411 FAX: 6265 6690 ZEi Company Registration No. I*****046K NOTICE OF MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Chemical Industries (Far East) Limited (the “Company”) will be held at
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    • 1339 12 THE BVI BUSINESS COMPANIES ACT, 2004 1MDB Energy Holdings Limited (BVI) (The “Company”) NOTICE OF LIQUIDATOR’S APPOINTMENT Notice is hereby given pursuant to Section 204(1 )(a)(i) that DavidGaskellof1stFloor,BlockB,RuisseauCreoleComplex Black River, Mauritius has been appointed liquidator of the Company by a resolution of the sole director dated 8 June 2015 Sgd.
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  • CONSUMER
    • 829 13 It is seeking judicial review of June 5 order from govt’s food safety regulator banning popular instant noodles AFP BLOOMBERG Mumbai NESTLE said on Thursday it is challenging a ban imposed by India on its hugely popular Maggi instant noodles brand after tests
      AFP; BLOOMBERG  -  829 words
    • 579 13 AFP Ogawa, Japan FOR 1,300 years, Japanese paper from the tiny town of Ogawa has fulfilled myriad needs from the material for Buddhist scriptures to balloon bombs sent to attack the United States. Now, as Japan prepares to mark the 70th anniversary of its
      AFP; PHOTOS: AFP  -  579 words
  • Page 13 Advertisements
    • 2136 13 THE BUSINESS TIMES NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.sphclass.com.sg/notices In the matter of the Companies Act, Cap 50 And In the Matter of OPTITUNE INTERNATIONAL PTE LTD (Company Registration No: *****1732W) NOTICE OF MEETING OF CREDITORS NOTICE IS HEREBY GIVEN pursuant to Section 296 of the Companies Act (Cap
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  • GOVERNMENT & ECONOMY
    • 566 14  -  The items are being prepared as centrepieces for a major public exhibition at SG50 Tribute Gallery in August or September By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore SOME furniture and personal items belonging to the late Lee Kuan Yew have
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    • 647 14  -  By Anthony Rowley btworld@sph.com.sg Tokyo THE World Bank has predicted that emerging economies will face “tough challenges” this year from a likely rise in global interest rates, currency swings and the prospect of reduced capital flows. In its latest Global Economic Prospects
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    • 375 14 AFP Beijing GROWTH in China’s industrial production hit a three-month high in May, figures showed on Thursday, while expansion in retail sales rebounded from a nine-year low in cautiously positive signs for the world’s second largest economy. Industrial output which measures output
      AFP  -  375 words
  • Page 14 Advertisements
    • 251 14 TALK. PLAY. DANCE. IN EARLY CHILDHOOD DEVELOPMENT Parents, do you know that every word you say to your baby helps to build his brain? How play is related to success in life? And how music and dance boost language and maths skills? Find out more at the 2nd Straits Times
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  • REAL ESTATE
    • 838 15 Perks from car washing to party planning will let tenants’ staff skip errands, get more family time BLOOMBERG Los Angeles DEVELOPER Rick Caruso has a new plan for your workday: Let your office building do your laundry, shop for
      BLOOMBERG; PHOTO: BLOOMBERG  -  838 words
    • 483 15 Stock of homes per surveyor has fallen 12% this year to 52 properties BLOOMBERG London UK house-price growth accelerated for a fourth month in May as the shortage of properties for sale reached its worst level in almost four decades,
      BLOOMBERG  -  483 words
    • 278 15 BLOOMBERG Singapore SC CAPITAL Partners, a Singa-pore-based real estate money manager, is seeking to raise US$400 million for a new Asia-focused property fund. The asset manager will start marketing the fund next week to global institutional investors, said managing director Suchad
      BLOOMBERG  -  278 words
    • 425 15 REUTERS Hong Kong CHINA’S real estate investment growth continued on its downward track in the first five months of 2015, to reach its slowest rate since May 2009, but government stimulus policies appeared to all but end the decline in floor
      REUTERS  -  425 words
    • 570 16 It’s eyeing property in Madrid, Barcelona, Balearic Islands and coastal areas where stock is depleting BLOOMBERG Madrid LONE Star Funds, the private-equity firm founded by billionaire John Grayken, will invest as much as 500 million
      BLOOMBERG  -  570 words
    • 225 16 REUTERS Dubai ABU Dhabi’s ruler has issued a decree to regulate and improve transparency in the emirate’s real estate sector, requiring brokers and developers to be licensed and introducing rules to protect buyers of projects that are not yet completed.
      REUTERS  -  225 words
  • Page 15 Advertisements
    • 158 15 FREEHOLD COMMERCIAL SITE WITH F&B APPROVAL BUKIT ftPANJANG MRT\ “O V HILLVI W ROAD Hlu MKT U/C BUKIT BAT OK NAIURt PARK < BUKIT I MAH NATURE RESERVE BUKIT BATOK NATURE PARK JJ** 0 BEAUTY gj WORID MR I 2 Hillview Road, Singapore Prominent dual frontage along Hillview Road and
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    • 285 15 Picking Winners Avoiding Losers and AS INTEREST RATES RISES Interest rates rises have historically caused volatility in capital, investment and asset markets. How will equities, bonds, commodities and currencies react to this upcoming interest rate rise? Will HK H shares and China A shares continue to soar? How will higher
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    • 39 15 BIG B LETS GO INDIA’S MAGGI WAY OF LIFE Amitabh talks about his 46 years in the profession, his fears and constipation GET YOUR COPY TODAY FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL SHAN (*****861) KALWANT (*****327) NISHAL (*****438)
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  • Page 16 Advertisements
    • 205 16 Call Toll-free 1800-289-9988 To Place Your Classified Advertisements CLASSIFIED D04 HOUSE FOR SALE SENTOSA Bungalow Sentosa 3½-Storey 8159 sqft, 6+1 ensuite, 2 living, Pool, Lift, Berth. Also for rent. Owner 9144 0027/ 9771 6341 D05 HOUSE FOR SALE PASIR PANJANG HILL Near Kent Ridge Hill. Rare! Freehold 3½-sty Townhouse basement
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    • 185 16 D27 HOUSE FOR SALE WAK HASSAN DRIVE 2-Storey detached attic. Pool. Land 4470 sqft. Designer Bunglw. Car porch. Near Park Seaside. Sell w tenancy. Call PMC 6285 2688 (Sole Agent) D04 APARTMENT FOR SALE REFLECTIONS AT KEPPEL BAY #20-90. IR Marina view. 3-bedroom. 1722 sq ft. Vacant. $3.7M neg. Commission
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    • 172 16 D10 HOUSE FOR RENT ELEVEN@ HOLLAND Brand New Cluster Semi-d 3700sf 5-bdrm lift. Special intermediate unit: base rent min $7k. Full comm+renewal to all Agts. *****036/ *****518 D10 HOUSE FOR RENT RIFLE RANGE RD Rifle Range Rd Bungalow, Expats Choice 6-bdrms, Nice Garden, Spacious. $12k p/mth. Kay *****183. D11 21
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    • 241 16 D10 APARTMENT FOR RENT THEOLIV New! The Oliv. 4+1 rm. 6m ceiling. Duplex 3337sf Sky Garden/ Penthouse 5339/ 6125 sf. Owner 8101 6699/ 9144 0027 D11 21 APARTMENT FOR RENT MULBERRY TREE CONDO Penthse 1270 sqft. F/furn, 2 rms duplex. Very near Novena MRT, shopping ctrs and TTSH. Good cond.
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    • 239 16 D15 SHOP FOR SALE JOO CHIAT Rare! Restaurant approved shophouses. Freehold. Adjoining unit. 2.5storey. 1808/ 5000 sqft. Near carpark. Foreigner eligible. No ABSD. 9487 7443 D03 SHOP FOR RENT 279 281 OUTRAM ROAD 976 1321 sf shop Along main rd. Brand new. Attached toilet Aircon. Outram MRT Tiong Bahru mkt.
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  • VEHICLE & LIFESTYLE
    • 1137 17  -  By Pratap Nambiar For The Straits Times The writer is executive chairman of Thought Perfect Pte Ltd, dedicated to the development and transformation of senior leaders. I WAS recently having lunch with two very senior corporate leaders and I asked them what they considered
      1,137 words
  • Page 17 Advertisements
    • 86 17 Call Toll-free 1800-289-9988 To Place Your Classified Advertisements THE BUSINESS TIMES CLASSIFIED •BUY IT-SEU IT -FIND IT- BMW FOR SALE BMW 730Li 12/2011 730Li Sunroof. 1 Director owner. PML service with 1 year warranty. Auto blinds and tailgate. $176k neg. Call 9386-0913 Sam BMW FOR SALE SUNROOF TWINTURBO Aug 12
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    • 74 17 LEXUS FOR SALE GS450H HYBRID Jan 10 GS450H Hybrid. Low KM. Powerful Fuel Saving. Immaculate Condi. Ask $113.8K. Call 8118 8099 MITSUBISHI FOR SALE MITSUBISHI PAJERO 08/2008 (7 Seater) Best Deal in Town. Flexible Loan. High Trade In.Low Interest Rate. Fast Selling $***** Tel: *****000 *****330 Classic Credit t td
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    • 67 17 TOYOTA FOR SALE ALPHARD 2.5A Brand new. Immediate registration. From $187,800. Fully equipped. 3 years free servicing. Call Auto Selection, Vincent 8399 1933 TOYOTA FOR SALE HARRIER PREMIUM Immediate! Panoramic Roof Navigation. $159,988. AML #04-10 Wheeler Dealers. For viewing please call 9007-8000/ 9181-6096 TOYOTA FOR SALE VELLFIRE 2.5A Brand New.
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    • 55 17 DOMESTIC HELP MAID SERVICES Chaindra Maid Agency, Singapore Prestige Class Award-Winner. Nepalese, Indian, Sri Lankan maids available. Call 6297 7172 (08C3412) ITEMS WANTED LIQUOR WANTED Highest Offer! Old and New Liquor Martel/ XO Hennessy etc./ Also wanted Korean Ginseng. CALL: *****092 LAUNDRY SERVICES ISLANDWIDE SERVICES Islandwide curtain laundry pick up/
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    • 59 17 PETS PET CARE KOI FARM Biggest, Cheapest Largest in Singapore New arrival from Japan!! Nippon Koi Farm, No 51 Jln Lekar. Tel 6763 1882 or www.nipponkoifarm.com PETS PET CARE PET FARM Small to Medium breed. Large puppies and kitten. Food and accessories. Boarding long/ short-term. Please call 6582 3333 ERICSSON:
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  • TRANSPORT
    • 746 18  -  MAS targets to start on clean slate in September; analysts offer mixed outlook on AirAsia’s prospects By Pauline Ng btworld@sph.com.sg Kuala Lumpur EVEN as Malaysia Airlines (MAS) works to untangle itself from the legacy issues that have grounded its economic takeoff
      PHOTO: BLOOMBERG  -  746 words
    • 311 18 BLOOMBERG Mumbai CARMAKERS in India are praying that the weatherman is wrong. India will likely face the driest two-year spell in almost three decades because of the El Nino weather phenomenon, bad news for farmers who depend on a good monsoon
      BLOOMBERG  -  311 words
    • 265 18  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore PRECISION navigation and landing technology can help with safe runway approaches and landings in adverse weather conditions, improving air traffic operations, Honeywell Aerospace and Boeing test flights showed. The planemaker and the technology firm, using Honeywell’s SmartPath Ground-Based
      265 words
  • Page 18 Advertisements
    • 494 18 Keep Calm And Take Charge, Shun Failure, Network Effectively! Who should attend: Managers, Directors, Business Owners, Sales and Service Executives. FULL-DAY WORKSHOPS Positive Thinking: Bouncing Back From Failure Taking Initiative And Making Things Happen At The Workplace Taking initiative means handling duties and responsibilities without waiting to receive instructions from
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  • 1911 19 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 OCEAN PROCEED 1 60 17/6 19/6 21/6 23/6 POSITIVE STAR 107 100 28/6
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  • Page 19 Advertisements
    • 104 19 Experienced sh;p maintenance services wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 SHIPPING TIMES Make A Splash In The Maritime World Via s|£i maritime.coM Ahoy there! If you are in a business pertaining to any sector of the maritime
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  • OPINION
    • 589 20 EDITORIAL THE prospect of inclusion in major global indices is arguably one of several factors that have helped buoy China’s stock markets over the past year. MSCI and FTSE have had the domestic China A-share market on their radar for
      589 words
    • 743 20  -  THE BOTTOM LINE By Giang Sovann T The writer is senior director, board leadership advisory services, at RSM Ethos Pte Ltd IN our recent corporate governance seminar, we asked participants to vote on their expectations of the Board. More than three quarters of
      743 words
    • 1205 20  -  Underpinning this development is the yuan, increasingly used to fund international trade and investment, as well as featuring as a reserve currency among some central banks.BY DAVIS HALL banks.BY DAVIS HALL T The writer is global head of foreign exchange
      PHOTO: BLOOMBERG  -  1,205 words
    • 870 21  -  COMMENTARY By Rasmus Wegener, Eric Almquist, Gwendolyn Lim T The writers are respectively a partner based in Atlanta, a partner based in Boston, and a principal based in Singapore of Bain Company WITH more companies offering up customers’ personal data for sale,
      870 words
    • 846 21  -  COMMENTARY By Yuen Kah Hung T The writer is an energy analyst with the Energy Studies Institute, National University of Singapore WHEN the Singapore government embarks on Phase 2 of the electric vehicle (EV) test-bed in 2016, we will see more
      846 words
    • 323 21  -  LETTER TO THE EDITOR Vincent Khoo WITH the announcement of the new chief executive officer (CEO) of Singapore Exchange (SGX), everyone is looking to him as the Messiah, who has come to save the Singapore stock market. Before he even assumes
      323 words
    • 1044 21  -  A new compact is needed to empower citizens in the face of today’s tech transformation.BY KEMAL DERVIS transformation.BY KEMAL DERVIS T The writer is a vice-president of the Brookings Institution and a former minister of economic affairs of Turkey and a former administrator for the
      PROJECT SYNDICATE; PHOTO: AFP  -  1,044 words


  • Lifestyle
    • Article, Illustration
      1404 22  -  OPEN’s strong slate of political films looks at the extraordinary impact of political systems on ordinary folk. BY HELM I YUSOF folk.BY HELMI YUSOF helmi@sph.com.sg @HelmiBT IT’S rare to find an event here dedicated to political films, but several gems of political cinema are set to go up on
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    • 422 22  -  By Helmi Yusof THEATRE PICK The imagination of the Future June 25 27 at 72-13 SERIOUS theatre lovers would be remiss if they didn’t catch this extraordinary play. In 1973, Chilean president Salvador Allende was deposed by the army of General Augusto Pinochet who then held the
      PHOTO: WING TAI HOLDINGS  -  422 words
    • BOOKS/CINEMA
      • 887 23  -  Two new novels borrow significant moments of Singapore’s past to tell their stories. But why has one run afoul of the authorities? BOOKS BY HELMI YUSOF helmi@sph.com.sg @HelmiBT The Art Of Charlie Chan Hock Chye By Sonny Liew Epigram Books 320 pages,
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      • 601 23  -  MOVIES By Geoffrey Eu THEY’RE back and they’re still the stars of the show. A summer season blockbuster with dinosaurs on the menu just seems so 1993, but Jurassic World isn’t going to take a backseat to any spandex-wearing superhero, giant earthquake or foul-mouthed
        601 words
      • 637 23  -  By Geoffrey Eu LOVE Mercy, Bill Pohlad’s sad, searing and darkly intense biopic about Brian Wilson of The Beach Boys, takes an unconventional look at the inner workings of a musical genius. The film conveys, with a strong degree of empathy,
        637 words
    • MUSIC
      • 870 24  -  The Sam Willows is set for its biggest year with the new single off its forthcoming album already racing to the top of the charts. BY DYLAN TAN dylantan@sph.com.sg @DylanTanSYBT THE Sam Willows is the sort of band any producer will kill for, given
        PHOTO: SONY MUSIC ENTERTAINMENT  -  870 words
      • 767 24  -  By Christopher Lim limchris@sph.com.sg @ChrisLimBT James Horner: Pas de Deux Mari Hakon Samuelsen Mercury classics B+ CELINE Dion’s overplayed hit, My Heart Will Go On, from the 1997 movie Titanic was composed by James Horner. But so was the Braveheart (1995) soundtrack, where a single melody
        767 words
      • 524 24  -  By Avanti Nim avantin@sph.com.sg FOR Spanish composer-conductor Luis Serrano Alarcon, completing the composition of the third part to Marco Polo The Trilogy was akin to fulfilling a childhood dream. He explains: “When I was 14 years old, I read Marco Polo many times, and
        524 words
    • ARTS
      • 995 26  -  Another Country takes a dramatised romp through over 60 texts from both sides of the Causeway.BY Causeway.BY CHEAH UI-HOON uihoon@sph.com.sg OUT of all the theatre or art programmes planned with the theme of Singapore’s 50th anniversary in mind, Wild Rice’s Another Country tops
        PHOTOS: WONG HORNG YIH  -  995 words
      • 539 26  -  By Dylan Tan dylantan@sph.com.sg @DylanTanSYBT NOT sure how much of a true-blue Singaporean you still are these days? Just see how many jokes you can catch at The Dim Sum Dollies’ restaging of The History of Singapore Part 1. If 50 per cent of
        PHOTO: DREAM ACADEMY  -  539 words
      • 679 26  -  By Vanessa Friedman NYT New York I WANTED it to work. I wanted to fall in love, like so many of my friends. “It takes a while,” they said. “Don’t expect a coup de foudre. Let it build over time.” So I did.
        NYT  -  679 words
    • CITY LIFE
      • 847 27  -  Dog trainer Cesar Millan, who will be in Singapore this weekend, is on a global mission to ensure that man’s best friend is always on his best behaviour. BY DYLAN TAN behaviour.BY DYLAN TAN dylantan@sph.com.sg @DylanTanSYBT LIKE parents who spoil their children rotten
        PHOTO: UNUSUAL PRODUCTIONS  -  847 words
      • CITY BUZZ BT writers'picks of what to see, do or talk about
        • 255 27  -  By Avanti Nim EXHIBITION The Deep FANCY a trip to the bottom of the ocean without all the fuss of actually going? The Deep at the ArtScience Museum is an exhibition that takes you more than 1,000 metres below sea level and introduces you to the
          255 words
        • Article, Illustration
          176 27  -  By Rachel Loi Brand Guide: Singapore Edition BOOKSACTUALLY, Papa Palheta, The Lo Behold Group, and Supermama what do these brands have in common? They are all homegrown, of course. Which is why they are among the 17 local brands that multi-disciplinary design studio Foreign Policy Design Group has chosen
          176 words
        • Article, Illustration
          155 27  -  By Helmi Yusof Ballet under The Stars DANCE lovers’ favourite annual outdoor event is back this weekend and the next at Fort Canning Green. Singapore Dance Theatre is, in fact, celebrating the 20th edition of its Ballet Under The Stars with several crowd-pleasers. This weekend, the company will perform
          155 words
        • Article, Illustration
          191 27  -  By Tay Suan Chiang “Nordic” for Father’s Day DO you usually celebrate Father’s Day with a meal at a restaurant? This year, treat Dad to something different. If Dad loves seafood, the Nordic savoury “cake” should tickle his tastebuds. Created by Chef Pang Kok Keong of Antoinette, the Nordic
          191 words
        • Article, Illustration
          184 27  -  By Cheah Ui-Hoon December Rains CD launch THE cast of December Rains, the Xinyao musical, will present a mini concert for the launch of a new CD ahead of the musical in August. The 1990s Mandarin songs have been given fresh arrangements by musician Bang Wen Fu. The
          184 words
        • Article, Illustration
          195 27  -  By Avanti Nim Ronny Chieng You Don't Know what You're Talking About HAS the week got you feeling blue? If you feel like having a few laughs to kick off your weekend, head on down to catch Malaysia-born comedian Ronny Chieng’s act. The 29-year-old lives in Melbourne but grew
          195 words
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  • Page 23 Advertisements
    • 94 23 Herman Miller PERFORMANCE WORK CHAIRS Feel Better. Work Better. Aeron Chair $1,799 W/CST U.P. $2,139 W/CST Graphite only. Mirra 2 Chair $1,999 W/CST* U.P. $2,549 W/CST Lime Green, Graphite, Turquoise. Urban Orange Cappuccino only. tt Sayl Chair $799 W/CST* U.P. $1,089 W/CST Red only. XTRA Park Mall 9 Penang Road
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  • Page 25 Advertisements
    • 703 25 TOMORROW’S WORK-LIFE BALANCE SEQUENCE 02 Play smart SMART WINDOWS AND SHADES Smart glass can change its degree of opacity automatically or on activation. Photovoltaic glass (PV glass) is also able to convert light into electricity, while electrochromic glass can be programmed to predict the angle and intensity of the sun’s
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  • Page 26 Miscellaneous
    • 302 26 CRYPTIC CROSSWORD Across 1 Fan’s total thrills in the Centre Court (6) 4 Marriage plan with suit ordered (8) 9 Thrilled editor’s about overdue (6) 10 Paid for cold dish, oddly ruined inside (8) 12 Sabbath performance capturing new support (8) 13 Belief is embraced by those people (6) 15
      302 words