The Business Times, 16 June 2015

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Microfilm: NL33513
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 Tuesday, June 16, 2015G
    32 words
  • DAILY DIGEST
    • Article
      Lock icon Tokyo-listed Teijin
      22 1 is closing operations of its polycarbonate resin facility in Singapore less than 16 years after it first commenced.TOP STORIES 2
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    • Article, Illustration
      Lock icon Fears that Greece
      25 1 will default on its debt caused a major Greek share and bond slump and a slide on other European markets.TOP STORIES 4
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    • Article
      Lock icon SMEs in Singapore
      27 1 have bagged 79 per cent of the contracts awarded by all ministries in the first half of 2014, a study shows. TOP STORIES 4
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    • Article
      Lock icon The full inclusion of China's A-shares
      24 1 on a key MSCI index can draw in passive fund inflow of nearly US$40 billion. COMPANIES MARKETS 7
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    • Article
      Lock icon Though Hong Kong,
      26 1 Singapore and Tokyo are the leading Asian markets in the self-storage industry, all three have a shortfall in square footage. REAL ESTATE 11
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    • Article
      Lock icon The gyrations in the fixed income
      28 1 market are so great that BlackRock Inc says it’s time to cast aside its trusted models for assessing risk. BANKING FINANCE 13
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    • Article
      Lock icon IBM is placing
      20 1 a large investment behind an open source project for real-time data analysis called Apache Spark. TECHNOLOGY 15
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    • Article
      Lock icon For consumers
      22 1 figuring out which canned foods and plastics contain the controversial chemical known as BPA can be nearly impossible. CONSUMER 16
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    • Article
      Lock icon Malaysia's ringgit
      26 1 is sliding towards its fixed exchange rate of a decade ago and central bank assurances the weakness is temporary aren’t convincing everyone.GOVT ECONOMY 19
      26 words
    • Article
      Lock icon AirAsia plans
      30 1 to raise funds at loss-making associates by issuing up to US$300 million in bonds and may sell planes to help cut group debt, chief executive says. TRANSPORT 20
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  • Article
    Lock icon MARKETS
    28 1 Monday Change STI 3,323.13 -30.72 KL COMP 1,722.16 -12.21 NIKKEI 225 20,387.79 -19.29 HANG SENG 26,861.81 -418.73 SHENZHEN B 1,569.65 -5.27 Dow (11:45 am EDT) 17,788.54 -110.30
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  • Article
    Lock icon Singapore’s quarterly total employment falls for the first time in 5 years
    883 1  -  MOM cites “seasonal declines and sharper moderation” but adds that the number is still 2.7% higher than a year ago By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore SINGAPORE’S labour market remained tight in the first quarter of 2015 as
    883 words
  • Article, Illustration
    Lock icon Developers’ sales slump amid lack of new major launches
    1212 1  -  Tepid showing in May likely to continue in June; new launches to be rolled out in July By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore DEVELOPERS’ sales will probably be more subdued in June, when virtually no new project launches will take place,
    BT Graphics Source: URA  -  1,212 words
  • Page 1 Advertisements
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      Lock icon Page 1 Advertisements Column 1
      105 1 8 "*****1 *****4 SINGAPORE HOME MARKET SC Capital staying clear until prices drop 30% REAL ESTATE 11 Cartier NEW CALIBRE DE CARTIER DIVER CARBON MANUFACTURE MOVEMENT 1904 MC WATER-RESISTANT TO 300 METRES, THE CALIBRE DE CARTIER DIVER CARBON WATCH IS AN AUTHENTIC DIVING WATCH. FITTED WITH THE 1904 MC MOVEMENT,
      105 words
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      Lock icon Page 1 Advertisements Column 2
      24 1 FUND RAISING More offshore marine firms may seek equity lifeline soon companies markets 6 COMMENTARY Elements that make a top business leader sme 25
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      Lock icon Page 1 Advertisements Column 3
      13 1 JURONG MARINE ICE JM Ice keeps things cool with bots and tech SME/26
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  • TOP STORIES
    • Article, Illustration
      Lock icon Chemicals giant Teijin to close Jurong Island plant, sell the site
      715 2  -  The Singapore subsidiary, hurt by high energy costs, has also been facing the heat from low-cost China rivals By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore TOKYO-listed chemical and pharmaceutical company Teijin is closing its polycarbonate resin plant in Singapore
      715 words
    • Article
      Lock icon 2G mobile services to cease from April 2017
      661 2  -  By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore TECHNOLOGY savvy Singapore may have one of the world’s highest penetration of smartphones which use the country’s 4G and 3G networks but there are still 250,000 mobile phone users who are on the antiquated 2G
      661 words
    • Article, Illustration
      Lock icon Fight for the jobs of tomorrow: NTUC chief
      536 2  -  Challenge is to make sure workers keep pace with new demands and not fight for jobs of yesterday, says Chan Chun Sing By Nikita Mathur mathurn@sph.com.sg Singapore THE National Trades Union Congress (NTUC) is not only concerned with the number of jobs
      PHOTO: LAU FOOK KONG/ THE STRAITS TIMES  -  536 words
    • Article
      Lock icon Retail sales up 5% in April, buoyed by motor vehicles
      410 2  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore RETAIL sales for April expanded 5 per cent year on year, buoyed by dou-ble-digit sales growth of motor vehicles, with the total retail sales value for April reaching S$3.3 billion. This is up from
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    • Article, Illustration
      Lock icon Greek shares, bonds slump on default concerns
      980 4  -  Main fear is that Merkel is losing patience with debt negotiations which have so far failed By Neil Behrmann btworld@sph.com.sg London FEARS that Greece will default on its debt in coming weeks caused a major Greek share and bond slump and a slide
      980 words
    • Article
      Lock icon SMEs won bulk of public tenders in H1 2014
      661 4  -  SMEs need to be more proactive in managing balance sheets to tender for public projects: study By Fiona Lam fionalam@sph.com.sg Singapore SMALL and medium-sized enterprises (SMEs) in Singapore have been successful in securing public projects, with 79 per cent of the
      661 words
    • Article, Illustration
      Lock icon CBRE poaches 5 industrial brokers from Colliers
      733 5  -  The new hires include Brenda Ong, who will head CBRE’s industrial logistics team By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore FOR the second time this year, property consulting group Colliers International has been the subject of a poaching exercise. This time, CBRE has recruited
      733 words
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  • Page 4 Advertisements
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      Lock icon Page 4 Advertisements Column 1
      58 4 ALSO AVAILABLE IN i7 VPRO ALSO AVAILABLE IN i7 VPRO Ultrabook, Celeron, Celeron Inside, Core Inside, Intel, Intel Logo, Intel Atom, Intel Atom Inside, Intel Core, Intel Inside, Intel Inside Logo, Intel vPro, Itanium, Itanium Inside, Pentium, Pentium Inside, vPro Inside, Xeon, Xeon Phi, and Xeon Inside are trademarks of
      58 words
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  • COMPANIES & MARKETS
    • Article
      Lock icon More offshore & marine firms may seek equity lifeline soon
      683 6  - More offshore marine firms may seek equity lifeline soon More cash calls expected from those with high debt levels but bond route is seen as prohibitive By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore MORE cash calls from smaller offshore and marine (O&M) firms with high debt levels could be on the
      683 words
    • Article
      Lock icon ICBC Singapore launches USD/SGD dual currency card
      336 6  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore INDUSTRIAL and Commercial Bank of China (ICBC) Singapore has launched a US dollar and Singapore dollar dual currency credit card as it seeks to expand its retail banking presence here. The ICBC Visa USD/SGD dual currency credit
      336 words
    • Article
      Lock icon AVJennings to develop land parcel in NSW
      201 6 Singapore AVJENNINGS (AVJ) has acquired the right to develop a land parcel at Warnervale on the New South Wales Central Coast which it expects will produce around 540 lots. The transaction follows recent announcements of the Wollert joint venture in Victoria with AustralianSuper
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    • Article
      Lock icon Lippo Malls Indonesia trust raises S$75m through bonds
      298 6  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore LIPPO Malls Indonesia Retail Trust (LMIRT) has raised S$ 75 million through the issuance of five-year bonds with a coupon of 4.1 per cent, a term sheet seen by The Business Times showed on Monday. Orders
      298 words
    • Article
      Lock icon A-shares in MSCI index: potential US$40b long-term fund inflow
      437 7  -  inclusion in EM benchmark expected in May 2017 after announcement of delay by index provider By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THE eventual full inclusion of China’s A-shares on a key MSCI benchmark should draw in passive fund inflow of nearly
      437 words
    • Article
      Lock icon Mapletree Greater China buys plaza in Shanghai
      425 7  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore MAPLETREE Greater China Commercial Trust (MGCCT) has acquired Sandhill Plaza in Shanghai for about S$402 million from MSREF VII Leaphart BV. The purchase consideration is some 1.89 billion yuan (S$412.2 million) if working capital adjustments attributable to
      425 words
    • CORPORATE DIGEST
      • Article
        Lock icon Singapore Exchange
        86 7 SINGAPORE Exchange (SGX) on Monday confirmed that 195 erroneous May 2015 Central Depository printed statements were mailed out earlier this month, and that corrected statements have been mailed out on Monday, and its customer service officers will be contacting all affected account holders to assist them. SGX told
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      • Article
        Lock icon Midas Holdings
        69 7 MAINBOARD-LISTED Midas Holdings on Monday said that its 32.5 per cent owned joint venture company Nanjing SR Puzhen Rail Transport has secured 2.1 billion yuan (S$455.7 million) worth of metro and tram contracts in China. Delivery of the metro trains and trams is scheduled between 2016 and 2017,
        69 words
      • Article
        Lock icon Singapore eDevelopment
        80 7 SINGAPORE eDevelopment has acquired Hong Kong’s BMI Capital Partners International (BMICP) for a cash consideration of HK$1 (17 Singapore cents) from Chan Heng Fai, a substantial shareholder and the executive director and chief executive officer of Singapore eDevelopment. BMICP and its wholly owned computer software technology subsidiary SeD
        80 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 8 STI Catalist Straits Times index June 15,2015 3,323.13 -30.72 (-0.92%) Current streak 1 day Day high 3,343.84 Day low 3,309.49 52-week high 3,539.95 (Apr 15, 2015) 52-week low 3,154.21 (Oct 16, 2014) ftse ST Catalist index June 15,2015 671.44 -6.10 (-0.90%) Current streak 2 days Day high 677.49 Day low
      63 words
    • Article, Illustration
      Lock icon Banks among biggest drags as STI slips
      575 8  -  Market sentiment hit by failed Greece talks, selloff in China and anticipation ahead of a US Fed meeting STOCKS By Kenneth Lim kenlim@sph.com.sg @KennethLimBT SINGAPORE shares fell on Monday as the weekend’s failed Greece talks, a selloff in China and anticipation before a
      Source: Bloomberg  -  575 words
    • Article
      Lock icon STI STOCKS
      307 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 247 +2 248/242 271 219 5.9 6246.1 CapitaLand 335 -4 339/333 379 293 12.3 2.7 *****.3 CapitaMall Trust 213 +1 215/212 228 188.5 5.1 7390.5 CityDev 964 -12 978/963 1095 915 11.6
      307 words
    • Article
      Lock icon MOST ACTIVE
      34 8 VOLUME Noble 73,183,900 IHC 44,291,000 WE W*****5 42,296,800 Mercurius 40,297,100 Debao Property 31,523,500 Market volume 1,247,144,000 VALUE Singtel 99,203,391 UOB 61,392,153 Noble 51,805,738 DBS Grp 50,470,209 Wilmar Intl 43,621,979 Market value 950,849,000
      34 words
    • Article
      Lock icon SGX ETFs Most Active
      110 8 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap Nikko AM STI ETF 341 -5 263 346/340 422/324 340/342 8.2 STI ETF 338 -2 247 340/337 355/319 337/338 DBXT MSPAKIS US$ US207.9 -0.1 82 208.5/207.9 218.4/178.5 208/208.5 10.2 IS MS INDIA US$ US710 +6 74
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Jun 15 VALUE CLOSE BT OB/OS -865.00 -102.00 BT CADI -*****.00 -160.00 BT 10-day MA -*****.00 -86.00 FTSE ST Mid Cap 760.00 -3.34 FTSE ST Small Cap 477.62 -3.17 FTSE ST All Share 797.69 -6.64 FTSE ST China Top 206.28 -1.04 FTSE ST China 245.19 -2.06 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 8 STI FTSE ST All-Share FTSE ST All-Share index June 15,2015 797.69 -6.64 (-0.83%) Current streak 1 day Day high 801.99 Day low 795.52 52-week high 847.98 (Apr 15, 2015) 52-week low 762.71 (Oct 16, 2014)
      35 words
    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE index June 12,2015 1,890.67 -4.86 (-0.26%) Current streak 1 day Day high 1,900.50 Day low 1,879.79 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 2 11 4 0 0 0 2 11 4 Manufacturing 30 64 35 10 10 13 40 74 48 Commerce 14 16 21 0 5 6 14 21 27 Tpt/Stor/Comms 9 20 10
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 12,885 12,885 51,447 51,447 Manufacturing 117,182 101,458 218,640 93,887 3,340 97,227 Commerce 136,205 82,297 218,502 111,274 2,496 113,770 Tpt/Stor/Comms 90,031 90,031 172,249 172,249 Finance 20,327 109 20,436 170,967 20 170,987 Construction 21,821 2,779 24,600 2,937
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    • Article
      Lock icon GAINERS
      77 8 BY CENTS CLOSE UP 52w high/low DBXT Nifty US$ ***** 287.2 1.7 *****/***** SPDR S&P500 US$ ***** 32.4 0.1 *****/***** DBXT MSJAP US$ 5126 31.0 0.5 5277/4291 DBXT MSINDIA US$ 988 12.1 0.9 1160/971 Acma Ltd 1 50 11.5 29.9 50/38.5 BY PERCENTAGE CLOSE UP 52w high/low Dapai Intl
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    • Article
      Lock icon LOSERS
      77 8 BY CENTS CLOSE DOWN 52w high/low SPDR DJIA US$ ***** -280.4 -1.2 *****/***** DBXT China50 US$ 3852 -141.6 -2.7 4258/2800 DBXT iBoxxSing SG$ ***** -131.0 -1.0 *****/***** DBXT MSEurope US$ 5976 -110.6 -1.4 6424/5366 JMH USD 5710 -107.9 -1.4 6788/5653 BY PERCENTAGE CLOSE DOWN 52w high/low Joyas W*****5 0.1
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    • Article
      Lock icon UNUSUAL ACTIVITY
      85 8 VOL CLOSE($) CHANGE LifeBrandz 11,491.5 0.005 +0.002 +66.67 Brooke Asia 117.9 0.200 +0.054 +36.99 Acma Ltd 1 0.08 0.500 +0.115 +29.87 Green Build 34.5 0.310 -0.080 -20.51 UG Healthcare 1,381.0 0.265 +0.020 +8.16 Mercurius 40,297.1 0.016 +0.002 +14.29 Fuxing China 648.3 0.260 +0.040 +18.18 Ryobi Kiso 446.9 0.100
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    • BROKERS’ TAKE
      • Article
        Lock icon Wilmar International
        124 8 Buy June 15 close: S$3.26 Target price: S$4.04 Maybank Kim Eng, June 15 Based on current unusual warming of the tropical Pacific not seen since 1997, this could be the strongest El Nino on record. Most soft commodities would be hit, with Wilmar primarily affected by CPO (crude
        124 words
      • Article
        Lock icon Keong Hong Holdings
        166 8 Buy June 15 close: S$0.45 Target price: S$0.565 UOB Kay Hian, June 15 Keong Hong is a BCA A1 grade contractor with an operational track record of more than 30 years. The company forayed into the property development sector in 2012, and is now starting to see
        166 words
      • Article
        Lock icon Thai Beverage
        175 8  -  Compiled by Melissa Tan Buy June 15 close: S$0.77 Target price: S$0.83 OCBC Investment Research, June 15 Growth is expected to be firm in Thailand for the year. Bank of Thailand believes a gradual improvement to growth will be underpinned by increased disbursement of public investment as well
        175 words
    • Article
      Lock icon CALENDAR
      5 8 DATA US FOMC Meeting
      5 words
    • Article
      Lock icon Yuan near 5-week low; US$ will be focus of the week
      418 9 CURRENCIES BLOOMBERG Beijing CHINA’S yuan traded near a five-week low amid speculation that the central bank will loosen monetary policy to help an economy growing at the slowest pace in six years. The People’s Bank of China will cut
      BLOOMBERG  -  418 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Jun 15 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 4.797 0.688 5.989 49.475 103.001 0.954 8.634 2.906 1.107 78.559 34.909 1.042 9.586 0.719 23.914 26.049 0.497 0.773 Canada 1.050 5.036
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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 15 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0413 1.0419 0.7724 0.7726 Canadian dollar 1.0933 1.0941 0.8113 0.8110 Euro 1.5147 1.5153 1.1235 1.1236 NZ dollar 0.9405 0.9411 0.6976 0.6978 Sterling pound 2.0936 2.0946 1.5529 1.5532
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Jun 15 S$ Bid Offer 1-month 1.3488 1.3495 2-months 1.3496 1.3503 3-months 1.3506 1.3515 6-months 1.3524 1.3534 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        395 9 Jun 15 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.95 *****.20 *****.10 Jun15 *****.00 *****.00 *****.00 *****.50 *****4 *****4 Jul15 *****.50 *****.00 *****.00 *****.00 4963 ***** NIKKEI 225 INDEX FUTURES SPOT *****.10 *****.48 *****.10 Sep15 *****.00 *****.00 *****.00 *****.00 ***** *****9 Dec15
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES Most active
        207 9 Jun 15 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 UOB MB ECW*****1 10.9 -1.9 5817 0.1 2395 4 FTSEChinaA50 ***** MBeCW*****0 8.8 -4.1 3227 0.0 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 12 Index Change Change Change Change Change Change World Preliminary 1339.5 -0.6 5.0 -0.7 5.1 -0.5 3.6 EAFE Preliminary 1082.3 -0.7 9.7 -0.5 8.0 -0.3 6.5 Europe Preliminary 1496.9 -1.1 8.3
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    • BANK RATES
      • Article
        Lock icon SIBOR
        36 9 Jun 15 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 INTERBANK RATES
        154 9 Jun 15 $S Offer Bid 0vernight 0.07 0.05 1-month 0.6875 0.5625 2-months 0.75 0.625 3-months 0.8125 0.6875 Overnight mode: 0.05 US$ 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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      • Article
        Lock icon GOVERNMENT SECURITIES
        67 9 Jun 15 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.4 102.47 102.46 5-Year N*****0H 1.625 01-Oct-19 99.08 10-Year NX*****Z 2.375 01-Jun-25 97.58 97.60 97.60 15-Year NY*****E 2.875 01-Jul-29 100.21 100.10 100.00 20-Year NZ*****V 3.375 01-Sep-33 105.53 105.55 105.35
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        246 9 Jun-12 Price Net change change Last Trade Agricultural Jun-12 CBOT Soybeans (US cents/bu) 940.00 unch 0.00% 14/07/2015 CBOT Soybean Oil (US cents/lb) 33.14 -0.15 -0.45% 14/07/2015 CBOT Wheat (US cents/bu) 503.75 -0.50 -0.10% 14/07/2014 Jun-12 LIFFE Cocoa (£/tonne) 2102.00 15.00 0.72% 16/07/2015 LIFFE Coffee (US$/tonne) 1722.00 11.00 0.64%
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    • Article
      Lock icon KrisEnergy to raise S$169.5m from 42-for-100 rights issue
      512 10  -  Proposed issue of 440.1 m new shares will be at 38.5 cents per rights share By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore KRISENERGY on Monday announced a S$ 169.5 million rights issue to support its strategy of growing oil and gas production
      512 words
    • Article, Illustration
      Lock icon Time for Asia to let go of current account surpluses: DBS economist
      536 10  -  Region’s fears from 1997 financial crisis are putting a drag on local investment By Ong Hui Qun ohuiqun@sph.com.sg Singapore ASIA needs to stop running current account surpluses to arrest declining investment, said David Carbon, head of economics and
      Source: DBS  -  536 words
    • Article
      Lock icon Ezra wins subsea contracts worth over US$115m
      257 10  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore EZRA Holdings’ subsea services division, EMAS AMC, has clinched several global contracts valued at more than US$115 million, including options. One of the contracts is for rigid pipelay on the Aviat field development in the UK North
      257 words
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      Lock icon Page 6 Advertisements Column 1
      63 6 Our App cannot tell you how fast you ran, but we certainly can bring you up to speed in no time. DOWNLOAD THE ALL-NEW ASIAONE APP All the top publications in one FREE app. The newAsiaOne mobile app gives you instant access to the latest news, interesting lifestyle features and
      63 words
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
      294 7 N 5 STAR AIRLINE' 5KYTRAX vVr, *y .V 7f f. > tv* ,tV- v. V. •r 3 N> •> f V i. > v A/'«' 4, r .>^1 V -**>;«• r i m j i r» Tb p. Feel the tranquillity, the essence of comfort in our fully flat reclining
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  • Page 10 Advertisements
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      Lock icon Page 10 Advertisements Column 1
      494 10 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
      494 words
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  • REAL ESTATE
    • Article
      Lock icon Asia self-storage sector set to grow: CBRE
      517 11  -  Singapore has shortage (or “growth potential”) of 2.4m-5.5m sq ft, assuming similar saturation as NY state By Elizabeth Mak eamak@sph.com.sg Singapore ALTHOUGH Hong Kong, Singapore and Tokyo are already the leading Asian markets in the self-storage industry, all three have a shortfall in
      517 words
    • Article, Illustration
      Lock icon SC Capital staying clear of Singapore home market until prices drop 30%
      658 11 Founder says intensity and severity of government cooling measures “caught us by surprise” BLOOMBERG Singapore SC CAPITAL Partners, which booked a loss from the sale of Singapore apartments to Blackstone Group LP in January, said that prices in
      BLOOMBERG; PHOTO: BLOOMBERG  -  658 words
    • Article
      Lock icon Asia’s wealthy see bargains in Europe property
      725 12 Investors are betting the euro’s 12-month slide is almost over BLOOMBERG Singapore STEPHEN Diggle, whose Singapore-based hedge fund made a profit of US$2.7 billion in the depths of the global financial crisis, is visiting the small German town of Flensburg this week in
      BLOOMBERG  -  725 words
    • Article, Illustration
      Lock icon London leads house prices to record in post-election surge
      418 12 UK PROPERTY BLOOMBERG London ASKING prices for London homes surged to a record this month, with gains led by the city’s most expensive districts after the Conservative Party’s election victory. Prices rose 5.7 per cent to more than £600,000 (S$1.25 million),
      BLOOMBERG; PHOTO: BLOOMBERG  -  418 words
    • Article
      Lock icon Londoners pay record rents as landlords capitalise on shortfall
      209 12 BLOOMBERG London LONDONERS are paying record rents when they change homes in the city as rising demand and a lack of supply allows landlords to charge more. The average rent for a new lease in Greater London was £1,506 (S$3,146) a
      BLOOMBERG  -  209 words
  • Page 11 Advertisements
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      Lock icon Page 11 Advertisements Column 1
      103 11 Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices Hong Fok Group AUCTION 63 Sungei Tengah Road Existing Ornamental Fish Farm
      103 words
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      Lock icon Page 11 Advertisements Column 2
      150 11 SINGAPORE’S FINEST SERVICED OFFICES Fully furnished prestigious offices Business registration offices available Dedicated receptionist answering your calls the way you would like Meeting rooms, bilingual secretaries Global IT infrastructure 5 days free at any location across the globe per month Flexible lease terms from just 1 month VIRTUAL OFFICES COWORKING
      150 words
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      25 12 SINGAPORE BLipG AWARDS if jp sp 2 0 15 WHICH WILL BE THE FAVOURITE TWITTER INFLUENCER? n^ow AY CHANGI B/u-ray $JBB sr® sgblogawards.omy.sg Organiser: www.omy.sg
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  • BANKING & FINANCE
    • Article
      Lock icon Volatile bond markets prompt asset managers to revise their risk models
      941 13 Sharp yield fluctuations have led to losses of US$640b in sovereign debt worldwide since the end of April BLOOMBERG London WITH US$4.8 trillion in assets or about the size of Japan’s economy no one manages more money than BlackRock
      BLOOMBERG  -  941 words
    • Article, Illustration
      Lock icon Earnings leaks to local press not unfair, says outgoing head of JPX
      335 13 BLOOMBERG Tokyo THE outgoing head of Japan’s bourse is unperturbed about a disclosure practice that has characterised the nation’s stock market for years. Publishing companies’ financial results in the local press before they are officially announced isn’t unfair,
      BLOOMBERG  -  335 words
    • Article, Illustration
      Lock icon China’s next bear market seen in US$358b of margin loans
      641 13 BLOOMBERG Shanghai STOCK forecasters in search of an early warning system for the next Chinese bear market are zeroing in on the country’s record US$358 billion pile of margin debt. When that three-year build-up of leveraged positions starts to unwind,
      BLOOMBERG; PHOTO: BLOOMBERG  -  641 words
    • Article
      Lock icon China margin finance boom fuels record brokerage bond sales
      421 13 BLOOMBERG Hong Kong SOARING demand for margin financing in Hong Kong to take advantage of booming Chinese stocks has spurred record offshore fundraising by the nation’s brokerages. Overseas bond issuance from Chinese non-bank financial institutions has jumped four times to US$11.5
      BLOOMBERG  -  421 words
    • Article
      Lock icon China investors lose US$1.2b in alleged Swiss scam
      664 13 They were lured by returns of as much as 10% a month from currency trading BLOOMBERG Geneva STREET protests in Beijing and Hong Kong. Chinese investors flying 8,000 kilometresshow up on doorsteps in Geneva and demand their money back. It’s the fallout
      BLOOMBERG  -  664 words
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  • ENERGY & COMMODITIES
    • Article
      Lock icon Felda Global shares sold down on proposed Rajawali deal
      824 14  -  Acquisition works out to about 780 rupiah per share or a 72% premium over the target’s Friday closing price By Pauline Ng btworld@sph.com.sg Kuala Lumpur ALREADY the worst-performing plantation stock this year, Malaysia’s state-owned Felda Global Ventures Bhd (FGV) appears to
      824 words
    • Article
      Lock icon India seeks to use its oil thirst to drive bargains
      482 14 REUTERS New Delhi INDIA is trying to use its position as one of the world’s biggest energy consumers to strike better bargains for its companies with oil exporting nations, in a marked change of approach under Prime Minister Narendra Modi.
      REUTERS  -  482 words
    • Article
      Lock icon Big Oil to attend Russia’s top investment forum
      742 14 Oil executives are showing up for the second year running despite political tensions, Western sanctions REUTERS Moscow SOME of the world’s most powerful oil executives will attend Russia’s top investment show this week, once again helping the organisers shrug off a meagre
      REUTERS  -  742 words
    • Article, Illustration
      Lock icon Fossil fuel subsidies stymie pollution curbs: IEA report
      404 14 BLOOMBERG London SUBSIDIES for fossil fuels are overwhelming efforts to curb pollution, the International Energy Agency (IEA) said. Tax-breaks, subsidised fuel prices and other government support amount to an incentive to pollute worth US$115 per tonne of carbon dioxide, the agency said
      BLOOMBERG; PHOTO: REUTERS  -  404 words
    • Article
      Lock icon Shell moves Gulf of Mexico staff ahead of storm
      245 14 REUTERS Houston SHELL Oil Co, the US arm of Royal Dutch Shell, said it was removing non-essential workers from offshore platforms as a precautionary measure ahead of a low-pressure storm system given an 80 per cent chance of becoming a tropical
      REUTERS  -  245 words
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  • CONSUMER
    • Article, Illustration
      Lock icon Food firms seek chemical-coating alternatives
      1202 16 But knowing if they are any safer than bisphenol A, or BPA, may be even more difficult NYT New York FOR consumers, figuring out which canned foods and plastics contain the controversial chemical known as BPA can be nearly impossible. But determining whether newer alternatives
      NYT; PHOTO: NYT  -  1,202 words
    • Article, Illustration
      Lock icon Online discounts soar as S Koreans avoid public places
      956 16 BLOOMBERG Sydney AS Korean shoppers shun public places over the spread of Middle East respiratory syndrome, Shinsegae Co has a proposition: online discounts of as much as 80 per cent on brands including Armani Exchange and Vivienne Westwood. In-store sales at
      BLOOMBERG; PHOTO: NYT  -  956 words
    • Article
      Lock icon FDA to work with online patient forum to mine drug safety data
      427 16 BLOOMBERG San Francisco THE US Food and Drug Administration (FDA) is turning to a patient-net-working website to get a better handle on the side effects of medications. The FDA is tapping into a broad flow of data sent
      BLOOMBERG  -  427 words
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  • Page 17 Advertisements
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      248 17 The Business Times Tuesday, June 16, 2015 17 4Want access to BBQ pits? If you're looking for your dream condo complete with facilities, turn to the Print Classified Properties section. To advertise, call the Print Classified Hotline: 1800-289 9988. Everything, plus the kitchen sink Select furniture for your home or
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      14 17 Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon May factory production down on energy pullback
      524 18 Sluggish data signals that stronger dollar and decrease in fuel prices are still rippling through economy LATEST US DATA BLOOMBERG Washington FACTORY production unexpectedly declined in May as the slump in energy output deepened. The 0.2 per cent decrease at manufacturers followed a
      BLOOMBERG; PHOTO: BLOOMBERG  -  524 words
    • Article
      Lock icon Japan raises view on capex after surprise upward GDP revision
      306 18 REUTERS Tokyo JAPAN’S government raised its assessment of capital expenditure for the first time in six months in June after data showed an unexpectedly strong pick-up in business investment at the start of the year. Capital expenditure has shown signs
      REUTERS  -  306 words
    • Article, Illustration
      Lock icon South Korea president warns of ‘excessive’ public alarm over Mers
      612 18 AFP Seoul SOUTH Korea on Monday reported its 16th death in an expanding Mers outbreak, as President Park Geun-Hye called for efforts to shore up the economy against what she called “excessive” public alarm. Seoul also declared five new patients
      AFP; PHOTO: AFP/YONHAP  -  612 words
    • Article
      Lock icon Greece, EU urged to show flexibility and adopt tough choices to resolve crisis
      697 18  -  By Anthony Rowley btworld@sph.com.sg Tokyo WITH the Greek crisis entering a further period of cliff-hanging, “eleventh hour” negotiations, two key figures close to the drama have called for further compromises in order to prevent what is seen
      697 words
    • Article
      Lock icon Drought may hit rural Indian economy, aggravating poverty
      638 18 REUTERS Mathura, India INDIA’S farm economy could contract this fiscal year for the first time in over a decade because of drought, threatening Prime Minister Narendra Modi’s drive to lift millions in the countryside out of poverty and bolster his party’s support.
      REUTERS  -  638 words
    • Article, Illustration
      Lock icon Ringgit nearing crisis peg as Zeti’s optimism not shared by everyone
      921 19 Macquarie Bank is reviewing year-end forecast of 3.75 per US dollar after currency sinks to within 0.7% of 3.80 peg imposed by Mahathir in 1998 BLOOMBERG Kuala Lumpur MALAYSIA’S ringgit is sliding towards its fixed exchange rate of a
      BLOOMBERG; PHOTO: AFP  -  921 words
    • Article
      Lock icon Swiss economy faces its first recession in six years
      539 19 BLOOMBERG Zurich SWISS central bank president Thomas Jordan has little interest-rate firepower left as he watches over an economy teetering on the brink of its first recession in six years. The Swiss National Bank, whose deposit rate is already at a
      BLOOMBERG  -  539 words
    • Article
      Lock icon Desperate for growth, Indonesia unveils raft of micro-measures
      692 19 BLOOMBERG Jakarta WITH his biggest reforms making little headway in a nation fraught with corruption and political jockeying, President Joko Widodo has turned to tweaks in taxes and regulation in an effort to revive waning Indonesian growth. Yet without larger changes such
      BLOOMBERG  -  692 words
    • Article, Illustration
      Lock icon Former PetroChina vice-chairman to be prosecuted for graft
      457 19 REUTERS Beijing FORMER PetroChina vice-chairman Liao Yongyuan has been expelled from the Communist Party and will be prosecuted for crimes including bribery, the party said on Monday, the latest official caught up in a sweeping corruption crackdown. Mr Liao stepped down from
      REUTERS; PHOTO: REUTERS  -  457 words
    • Article
      Lock icon Fired miner’s 50% pay cut just start of Australian wage pain
      718 19 BLOOMBERG Sydney FOR 20 years Australians doubled down on debt, confident that rising wages would inflate away the burden and grow their wealth. Now their luck seems to be running out. Geologist Marzena Grochot has been forced to go
      BLOOMBERG  -  718 words
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  • TRANSPORT
    • Article, Illustration
      Lock icon AirAsia units plan US$300m bond issues
      628 20 The group will also sell and lease back up to 20 planes to cut debt, says CEO Tony Fernandes REUTERS Singapore AIRASIA Bhd, Asia’s biggest budget airline, plans to raise funds at loss-mak-ing associates by issuing up to US$300 million in bonds and may
      REUTERS; PHOTO: THE STAR  -  628 words
    • Article, Illustration
      Lock icon Boeing sees huge potential for a niche mid-market jet
      517 20 REUTERS Paris BOEING Co is exploring a potential market of over 1,000 aircraft in a niche between its single-aisle 737 and wide-body 787, but has not decided whether to invest in a new jetliner, its sales chief says. Airlines have told
      REUTERS  -  517 words
    • Article
      Lock icon Boeing wins US$10.9b commitment from Garuda
      373 20 BLOOMBERG Singapore BOEING Co won a commitment for 60 planes from flag carrier PT Garuda Indonesia to meet growing demand for air travel in the developing economy. The contract, worth US$10.9 billion at list prices, is for 30 787-9 aircraft and as many as
      BLOOMBERG  -  373 words
    • Article, Illustration
      Lock icon Honda picks easy-going insider to repair reputation
      787 20 BLOOMBERG Tokyo HONDA Motor Co is turning to an insider who’s spent his entire career at the company to navigate out of a global auto safety crisis, after seven people died in its cars. Takahiro Hachigo this week becomes the eighth president of
      BLOOMBERG  -  787 words
    • Article
      Lock icon Etihad Airways seen eyeing US$1b through debut bond issue
      905 20 REUTERS BLOOMBERG Dubai ETIHAD Airways is in talks with potential investors, seeking to raise around US$1 billion through a debut bond issue, sources aware of the matter told Reuters. The Abu Dhabi governmentowned airline is planning to launch its bond through
      REUTERS; BLOOMBERG  -  905 words
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    974 21 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
    974 words
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      188 21 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 Highlight Your Company Anniversary <
      188 words
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  • OPINION
    • Article
      Lock icon TPA snafu a blow not just to Obama but also American national interests
      563 22 EDITORIAL US President Barack Obama and his ambitious trade agenda were dealt a political blow last Friday when Democrats in the House of Representatives blocked a move to grant the president trade promotion authority (TPA) that would
      563 words
    • Article, Illustration
      Lock icon The retreat of ‘peak oil’
      821 22  -  TTTHE BOTTOM LINE By Robert Samuelson THE WASHINGTON POST WRITERS GROUP Washington THE recent meeting of the Organization of the Petroleum Exporting Countries (Opec) provides an opportunity to understand the mysteries of the global oil market. As expected, Opec decided not to cut its oil
      THE WASHINGTON POST WRITERS GROUP  -  821 words
    • Article, Illustration
      Lock icon Water supply: Look beyond technology and innovation
      1696 22  -  Today’s water summit may also discuss why water utilities globally are losing consumers’ trust and confidence and how to reverse this trend.BY ASIT K BISWAS, CECILIA TORTAJADA AND HO KANG LENG trend.BY ASIT K BISWAS, CECILIA TORTAJADA, HO KANG LENG TAsit K Biswas
      Photo: Freeimages Source: Third World Centre for Water Management, Mexico  -  1,696 words
    • Article
      Lock icon End game approaches as US warns of accidental Grexit
      1108 23  -  COMMENTARY By Andrew Hammond T The writer is an associate at LSE IDEAS (the Centre for international Affairs, Diplomacy and Strategy) at the London School of Economics, and a former UK Government special adviser THE International Monetary Fund (IMF) pulled out
      1,108 words
    • LETTERS TO THE EDITOR
      • Article
        Lock icon Confusing disclosures about substantial shareholder by China New Town
        746 23  -  Mak Yuen Teen ON June 9, China New Town Development disclosed that its substantial shareholder, Shi Jian, has been required by PRC Changzhou Procuratorate to remain under “custody in designated residence”. In that announcement, China New Town assured shareholders that “the
        746 words
      • Article
        Lock icon Lesson from Invesco’s Noble strategy
        456 23  -  Michael Dee THE article “Invesco follows other funds to buy more of Noble after stock dives” on June 5 discussed how on June 2, Invesco bought 1.18 million shares of Noble Group at an average price of S$0.763 This allowed Invesco to report that it
        456 words
    • Article, Illustration
      Lock icon Greece’s threat of suicide may be futile
      1082 23  -  ECB’s bond-buying programme is designed to protect the euro from the consequences of a Greek exit or default. BY ANATOLE KALETSKY default.BY ANATOLE KALETSKY T The writer is chairman of the Institute for New Economic Thinking and the author of Capitalism 4.0, The
      PROJECT SYNDICATE; PHOTO: REUTERS  -  1,082 words
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  • LIFE & CULTURE
    • Article
      Lock icon Singtel donates S$20m to National Gallery Singapore
      609 24  -  In return, museum dedicates three spaces from old City Hall building as Singtel Special Exhibition Gallery By Elizabeth Mak eamak@sph.com.sg Singapore SINGAPORE Telecommunications (Singtel) announced on Monday its support for the National Gallery Singapore in a partnership that will see a S$20 million
      609 words
    • Article, Illustration
      Lock icon Jurassic World sets global box office opening weekend record
      720 24 Movie rakes in US$511m, with US$100m from China alone AFP Los Angeles THE fearsome Jurassic Park dinosaurs have done it again, gobbling up the competition to score the biggest worldwide box office opening weekend ever with the latest franchise. Action-packed Jurassic
      AFP; PHOTO: UIP  -  720 words
    • Article
      Lock icon From tree to greens, a US Open unlike any before
      731 24 NYT New York THIS is a story about countless blades of grass, a single tree and a freight train. Combined, the three will make the 2015 US Open this week at Chambers Bay Golf Course in Washington state unlike any
      NYT  -  731 words
    • Article
      Lock icon Billionaires flock to the ‘gilded age’ of art at Basel fair
      631 24 BLOOMBERG New York BILLIONAIRE hedge fund manager Dan Loeb and Lightyear Capital chairman Don Marron are among the collectors who will head to the Swiss city of Basel to check out the world’s largest modern and contemporary art fair.
      BLOOMBERG  -  631 words
  • Page 24 Advertisements
  • Page 24 Miscellaneous
    • Miscellaneous
      Lock icon Page 24 Miscellaneous Column 1
      314 24 CRYPTIC CROSSWORD Across 1 Scattered boxes close to store (6) 4 Weapon-holder in small taxi, driven initially round block (8) 9 At sea in a launch (6) 10 Where a golfer may be seen heading in the right direction (2,6) 11 Quickly pass to the suspect (9) 13 Conveys object
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  • Page 25 Advertisements
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      16 25 EDITOR'S CHOICE We bring you three top stories in full at businesstimes.com.sg every day thebusinesstimes btbreakingnews
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      Lock icon Page 25 Advertisements Column 2
      95 25 Do your best work in One-North* Discover the space and time to do the best work of your life. At our new Buona Vista centre in Singapore. You'll find everything you need. Inspirational workspace. World-class IT facilities. Expert support team. And a ready-made business community to connect with. So you
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  • SME
    • Article, Illustration
      Lock icon JM Ice keeps things cool with bots and tech
      1037 26  -  Company’s track record of embracing technology has been consistently paying off By Prisca Ang prisang@sph.com.sg Singapore PUTTING robotic arms to work in an ice factory sounds like a massive short circuit waiting to happen. But it is exactly what Jurong Marine
      PHOTOS: SHAWN TEO  -  1,037 words
    • Article
      Lock icon Looking for the ideal way to divide team tasks
      1059 26  -  COMMENTARY By Phanish Puranam T The writer is the Roland Berger Chair professor of strategy organisation design at INSEAD. SELF-MANAGED teams may sometimes adopt task divisions that are all wrong for the project. Managerial intervention can help avoid this. Suppose you
      1,059 words
    • Article, Illustration
      Lock icon Elements that make a top business leader
      1145 25  -  leadership is about execution, creating a winning feeling and being repetitive, says Kimberly-Clark president as he lists eight points from his recent presentation COMMENTARY By Jack Loo T This article first appeared on NUS’s Think Business portal What makes a successful business leader?
      FILE PHOTO  -  1,145 words
  • Page 26 Advertisements
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      30 26 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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