The Business Times, 23 June 2015
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2015-06-23
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The Business Times
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Title Section31 2015-06-23 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 23,201531 words
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DAILY DIGEST
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Article25 2015-06-23 1 further in Asean, airline, hotel and mass public transport stocks would be among the hardest hit, says a report. TOP STORIES 225 words
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Article33 2015-06-23 1 have welcomed new Greek proposals but say they require detailed study and it will take several days to determine if they go far enough to avert a default. TOP STORIES/433 words
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Article, Illustration18 2015-06-23 1 payment network as it strives to expand its retail presence in Singapore.TOP STORIES 618 words
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Article23 2015-06-23 1 sold in May at the fastest pace since November 2009, indicating budding momentum in the residential market.TOP STORIES 623 words
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Article21 2015-06-23 1 deal volumes in Singapore dropped in Q2 after a relatively robust start to the year. COMPANIES MARKETS 821 words
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Article15 2015-06-23 1 today may switch to buying in 2016, says a report. REAL ESTATE 1315 words
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Article29 2015-06-23 1 government anti-money laundering agencies say financial institutions have not done enough to police suspicious activity by officials at soccer’s global governing body Fifa. BANKING FINANCE 1629 words
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Article33 2015-06-23 1 has rejected a US$48 billion stock-based takeover offer from pipeline magnate Kelcy warren that aims to derail a consolidation of the North American natural gas and oil hauler. ENERGY COMMODITIES 1733 words
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Article35 2015-06-23 1 shift of emphasis, Prime Minister Shinzo Abe says he will launch a formal dialogue with Japanese companies with the aim of persuading them to step up productivity-boosting capital investment. GOVT ECONOMY 2335 words
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Article26 2015-06-23 1 Monday Change STI 3,315.13 +14.17 KL COMP 1,732.76 +10.99 NIKKEI 225 20,428.19 +253.95 HANG SENG 27,080.85 +320.32 SHENZHEN B CLOSED DOW (11.45am EDT) 18,166.06 +150.1126 words
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948 2015-06-23 1 Kenneth Lim - A major catalyst would be China’s ‘One Belt, One Road’ initiative, which could drive a cycle of growth for Central Asian countries By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore PERIODS of uncertainty are never good times to raise money, and948 words
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Article, Illustration811 2015-06-23 1 Lynette Khoo - By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore SURBANA Jurong, the company formed from the merger of Surbana International Consultants Holdings and Jurong International Holdings, has acquired two companies in its drive to become an Asian powerhouse in urbanisation and infrastructure consultancy.PHOTO: MIKE LEE/THE STRAITS TIMES - 811 words
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Advertisement265 2015-06-23 1 8 "*****1 *****4 HOMEGROWN FUNDRAISING US$4m Series C funding for Tech in Asia COMPANIES MARKETS 12 ALL IN THE FAMILY Survey finds how world’s largest family businesses plan for the future SME 28 SINGAPORE HOUSING PRICES ‘Extremely difficult’ for govt to support housing prices: BNP US RACE RELATIONSHIPS Black and265 words
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TOP STORIES
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Article, Illustration631 2015-06-23 2 Kelly Tay - But impact of any outbreak will be milder than Sars, say both the Japanese firm and DBS By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore IF the Middle East Respiratory Syndrome (Mers) spreads further in Asean, airline, hotel, and mass public transport stocksPHOTO: AFP - 631 words
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262 2015-06-23 2 REUTERS Kuala Lumpur MALAYSIA has stepped up health screenings at all entry points into the country, after the first case of Middle East Respiratory Syndrome (Mers) was reported in neighbouring Thailand last week. The South-east Asian nation, which shares a 650REUTERS - 262 words
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375 2015-06-23 4 Swaha Pattanaik - &SH REUTERS BREAKINGVIEWS By Swaha Pattanaik THE Greek crisis is compromising currency traders’ reputation for being the first and fastest to react to big economic or political news. The prices of southern eurozone government bonds and of European equities have fallen375 words
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Article, Illustration810 2015-06-23 4 But it would take several days to see if they can lead to an agreement to avert a default REUTERS Brussels EUROZONE finance ministers welcomed new Greek proposals for a cash-for-reform deal on Monday but said they required detailed study and it would takeREUTERS; PHOTO: REUTERS - 810 words
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Article, Illustration546 2015-06-23 6 Siow Li Sen - It is the latest foreign bank after Stanchart and Maybank to offer this payment facility By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore HSBC has joined the Nets payment network as it strives to expand its retail presence in Singapore. Effective Tuesday, HSBC debit cardholdersPHOTO: BLOOMBERG - 546 words
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771 2015-06-23 6 LATEST US DATA BLOOMBERG Washington PREVIOUSLY owned US homes sold in May at the fastest pace since November 2009, driven by first-time buyers and indicating budding momentum in the residential real estate market. Closings on existing properties, which usually occur aBLOOMBERG - 771 words
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Article, Illustration404 2015-06-23 6 Peter Thal Larsen - *|CS REUTERS BREAKINGVIEWS By Peter Thal Larsen DEMOCRACY has had a bad few days in Hong Kong. First the former British colony shelved its pledge to grant citizens universal suffrage. Now, the Hong Kong stock exchange is getting ready to ditchPHOTO: BLOOMBERG - 404 words
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Article, Illustration732 2015-06-23 6 Lee Meixian - Bank estimates that private property prices could fall a further 10% over next two years By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore BNP Paribas in a Monday report said that it believes that immigration policies and the incoming private housing supply willBT Graphics; Source: CEIC, BNP Paribas - 732 words
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Advertisement405 2015-06-23 2 Appointment of IG Aviation Singapore as Raya Airways' GSA Singapore IG Aviation Singapore Pte Ltd, an associate company of IG Group, is pleased to announce that we have been appointed as the GSA in Singapore for Raya Airways Sdn Bhd. We believe that this milestone partnership with Raya Airways will405 words
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Advertisement58 2015-06-23 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 of58 words
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COMPANIES & MARKETS
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Article, Illustration449 2015-06-23 8 Kenneth Lim - Volume of completed deals that involved a Singapore party fell 37% to US$9.8b compared to the year-ago period By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore MERGER and acquisition (M&A) deal volumes in Singapore dropped in the second quarter after a relatively robust start toSource: Thomson Reuters - 449 words
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Article, Illustration452 2015-06-23 8 CVC Capital and Standard Chartered PE are exploring a sale of their stake: sources BLOOMBERG Singapore AMTEK Engineering Ltd, a Singapore-based maker of components for Tesla Motors Inc, is looking to markets outside Asia as its majority shareholders consider aBLOOMBERG - 452 words
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172 2015-06-23 8 Li Fung said to form JV with 2 China retailers BLOOMBERG Hong Kong LI Fung Ltd plans to form a joint venture with two Chinese department store operators to help the retailers develop their own brands of clothes and home products, according to a person familiar with the matter. LiBLOOMBERG - 172 words
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Article, Illustration584 2015-06-23 9 Melissa Tan - Bulk of her total package rise comes from variable bonus; StarHub CEO gets full-year total of S$3.26m and M1 chief S$1-1.25m By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore GROUP chief executive officer Chua Sock Koong of Singapore Telecommunications (Singtel) received a 19 perFILE PHOTO - 584 words
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182 2015-06-23 9 BLOOMBERG Hong Kong Universal Medical Financial Technical Advisory Services Co, a Chinese lessor of medical equipment backed by billionaire Cheng Yu-tung, is seeking as much as US$546 million from a Hong Kong initial public offering. The Beijing-based company is offering 423.2 million sharesBLOOMBERG - 182 words
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CORPORATE DIGEST
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60 2015-06-23 9 SINGAPORE Technologies Engineering’s aerospace arm, ST Aerospace, has injected some S$5.29 million into its subsidiary, ST Aerospace Aircraft Seats, as working capital for its operations. Based in Singapore and marketed as part of ST Aerospace’s global network for integrated cabin interiors, ST Aerospace Aircraft Seats offers the60 words
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Article140 2015-06-23 9 ROXY-PACIFIC Holdings has agreed to buy a 49 per cent stake in a plot of land in Jakarta for 33.38 billion rupiah (S$3.3 million) with intention to develop a hotel, the property development and hospitality group announced on Monday. Roxy-Pacific's stake will be part of a larger consortium140 words
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96 2015-06-23 9 CHINA Environmental Resources Group plans to raise net proceeds of about HK$116.3 million for working capital through a placing of new shares at HK$0.63 apiece. The new shares represent 20 per cent of the tree and fertiliser products maker’s existing issued share capital. The placement price96 words
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Article, Illustration63 2015-06-23 10 STI Catalist Straits Times Index June 22,2015 3,315.13 +14.17 (+0.43%) Current streak 2 days Day high 3,330.59 Day low 3,311.12 52-week high 3,539.95 (Apr 15, 2015) 52-week low 3,154.21 (Oct 16, 2014) FTSE ST Catalist index June 22,2015 675.15 +2.08 (+0.31%) Current streak 2 days Day high 678.31 Day low63 words
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Article, Illustration690 2015-06-23 10 Melissa Tan - But the reform deal was still to be discussed at a European summit in Brussels late on Monday; STI’s rally was meanwhile driven mainly by Singtel STOCKS By Melissa Tan melissat@sph.com.sg @MelissaTanBT DEAL or no deal? No definitive answer had arrived by the timeSource: Bloomberg - 690 words
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Article309 2015-06-23 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 244 -1 249/244 271 219 6 6174.2 CapitaLand 339 +3 345/335 379 293 12.4 2.7 *****.4 CapitaMall Trust 210 +1 212/209 228 188.5 5.2 7286.4 CityDev 960 +2 967/958 1095 915 11.5309 words
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Article34 2015-06-23 10 VOLUME Yuuzoo 75,101,400 Healthway Med 59,189,900 Magnus Energy 54,818,300 Xpress 49,273,900 IHC 46,607,100 Market volume 1,410,739,000 VALUE Singtel 106,433,845 Global Logistic 56,368,812 CapitaLand 47,539,983 CityDev 45,635,343 HongkongLand USD 44,507,717 Market value 1,010,078,00034 words
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Article112 2015-06-23 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap UETF SSE50China 293 +5 227 294/288 340/140 293/298 91.6 Nikko AM STI ETF 343 cd +2 216 344/343 422/324 342/343 8.3 STI ETF 337 +2 179 339/335 355/319 337/338 IS MS INDIA US$ US750 +12 82112 words
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Article77 2015-06-23 10 Jun 22 VALUE CLOSE BT OB/OS -252.00 +98.00 BT CADI -*****.00 -37.00 BT 10-day MA -*****.00 -25.00 FTSE ST Mid Cap 766.00 -1.67 FTSE ST Small Cap 481.45 -0.16 FTSE ST All Share 797.56 +2.37 FTSE ST China Top 205.87 -0.48 FTSE ST China 241.69 +0.75 FTSE77 words
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Article, Illustration35 2015-06-23 10 STI FTSE ST All-Share ftse ST All-Share index June 22,2015 797.56 +2.37 (+0.30%) Current streak 2 days Day high 800.80 Day low 797.48 52-week high 847.98 (Apr 15, 2015) 52-week low 762.71 (Oct 16, 2014)35 words
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Article, Illustration33 2015-06-23 10 STI MSCI EAFE MSCI EAFE Index June 19,2015 1,882.91 +1.52 (+0.08%) Current streak 2 days Day high 1,891.21 Day low 1,878.86 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)33 words
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Article186 2015-06-23 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 5 2 0 0 0 8 5 2 Manufacturing 41 51 42 11 11 9 52 62 51 Commerce 17 27 16 3 1 7 20 28 23 Tpt/Stor/Comms 13 14 11186 words
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Article123 2015-06-23 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 12,910 12,910 54,570 54,570 Manufacturing 190,806 60,349 251,155 84,122 2,820 86,942 Commerce 76,179 59,309 135,488 59,145 2,777 61,923 Tpt/Stor/Comms 89,710 220 89,930 162,967 16 162,982 Finance 17,537 186 17,723 132,221 35 132,256 Construction 31,197 3,150123 words
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Article76 2015-06-23 10 BY CENTS CLOSE UP 52w high/low DBXT E50 US$ 5198 317.3 4.8 5576/4562 SPDR DJIA US$ ***** 301.3 1.3 *****/***** DBXT MSEurope US$ 6127 202.7 2.5 6424/5366 DBXT MSKorea US$ 5605 117.3 1.6 6735/5435 DBXT China50 US$ 3820 74.7 1.5 4258/2800 BY PERCENTAGE CLOSE UP 52w high/low ChinaGaoxianW*****8 1.576 words
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Article73 2015-06-23 10 BY CENTS CLOSE DOWN 52w high/low JMH USD 5550 -66.7 -0.9 6788/5410 GLD US$ ***** -57.3 -0.4 *****/***** Hyflux 6% CPS ***** -19.0 -0.2 *****/***** Jardine C&C 3545 -16.0 -0.4 4770/3500 DBXT MSTHAI US$ 1994 -14.7 -0.5 2300/1930 BY PERCENTAGE CLOSE DOWN 52w high/low Digiland Intl 0.1 -50.0 -0.173 words
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Article84 2015-06-23 10 VOL CLOSE($) CHANGE Foreland FabriT 9,253.7 0.012 +0.003 +33.33 Allied Tech 564.0 0.028 +0.009 +47.37 Hengxin Tech 1,685.1 0.500 +0.070 +16.28 Soon Lian 300.0 0.169 +0.019 +12.67 ChasWood Res 135.0 0.120 +0.004 +3.45 E2-Capital 44.1 0.150 -0.040 -21.05 Luzhou Bio-Chem 1,114.2 0.031 -0.006 -16.22 China Great Land 50.084 words
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BROKERS’ TAKE
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Article216 2015-06-23 10 Buy June 22 close: S$1.09 Target price: S$1.50 DBS Group Research, June 22 FOLLOWING rig-operator partner Atlantic Marine Services (AMS)’s withdrawal of its lawsuit against Ezion, we believe Ezion’s stock price would soon recover to the S$1.20 level, prior to the emergence of a dispute with AMS. it216 words
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Article222 2015-06-23 10 Jacquelyn Cheok - Compiled by Jacquelyn Cheok Neutral OCBC Investment Research, June 22 WHILE our local bourse has been rather lacklustre, the healthcare sector has been largely rewarding as the FTSE ST Health Care Index (FSTHC) has delivered a 36 per cent gain year-to-date compared to negative 2.1 per cent by222 words
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Article19 2015-06-23 10 I 1 pm (June 23) Singapore Consumer Price Index I 9.45 am (June 23) HSBC China Manufacturing PMI19 words
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352 2015-06-23 11 CURRENCIES REUTERS London THE euro rose against the safe-haven yen and Swiss franc on Monday, as a new Greek offer for a cash-for-re-forms deal raised hopes of an agreement between the debt-laden country and its creditors, boosting investors’ risk appetite. Eurozone leaders began anREUTERS - 352 words
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FOREX RATES
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Article471 2015-06-23 11 Jun 22 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.953 4.822 0.686 6.019 49.370 103.383 0.956 8.555 2.901 1.126 79.013 34.981 1.036 9.456 0.715 23.893 26.133 0.490 0.777 Canada 1.050 5.061471 words
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Article22 2015-06-23 11 Jun 22 S$ Bid Offer 1-month 1.3339 1.3349 2-months 1.3343 1.3356 3-months 1.3350 1.3365 6-months 1.3370 1.3386 Source: OCBC22 words
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Article155 2015-06-23 11 Jun 22 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0350 1.0363 0.7763 0.7767 Canadian dollar 1.0863 1.0876 0.8152 0.8148 Euro 1.5094 1.5110 1.1322 1.1325 NZ dollar 0.9191 0.9206 0.6894 0.6900 Sterling pound 2.1133 2.1154 1.5851 1.5855155 words
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EQUITY BONDS WARRANTS FUTURES
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206 2015-06-23 11 Jun 22 Most active Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left UOB MB ECW*****1 10.9 0.4 3487 0.1 2395 4 NOL MB eCW*****1 2.4 -0.2 3300 0.4 100 8 Capitaland MB eCW*****3 3.1 0.2 3000 0.2 340 2206 words
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373 2015-06-23 11 In local curr In S$ In US$ dy yr dy yr dy yr Jun 19 Index Change Change Change Change Change Change World Preliminary 1340.6 0.0 5.1 0.0 4.8 -0.2 4.0 EAFE Preliminary 1069.8 0.4 8.4 0.2 6.9 0.1 6.1 Europe Preliminary 1476.2 0.1 6.8373 words
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Article390 2015-06-23 11 Jun 22 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.21 *****.37 *****.91 Jun15 *****.50 *****.00 *****.00 *****2 *****9 Jul15 *****.00 *****.00 *****.50 ***** *****8 NIKKEI 225 INDEX FUTURES SPOT *****.14 *****.30 *****.14 Sep15 *****.00 *****.00 *****.00 *****.00 ***** *****5 Dec15 *****.00 *****.00390 words
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BANK RATES
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Article154 2015-06-23 11 Jun 22 $S Offer Bid 0vernight 0.3125 0.1875 1-month 0.6875 0.5625 2-months 0.75 0.625 3-months 0.8125 0.6875 Overnight mode: 0.1875 US$ 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 12154 words
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Article35 2015-06-23 11 Jun22 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 Reuters35 words
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Article69 2015-06-23 11 Jun 22 Jun 22 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.49 5-Year N*****0H 1.625 01-Oct-19 99.52 99.70 99.70 10-Year NX*****Z 2.375 01-Jun-25 98.43 99.15 98.46 15-Year NY*****E 2.875 01-Jul-29 100.73 101.55 100.70 20-Year NZ*****V 3.375 01-Sep-33 105.9169 words
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AGRI METALS ENERGY
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Article250 2015-06-23 11 Jun-19 Price Net change change Last Trade Agricultural Jun-19 CBOT Soybeans (US cents/bu) 971.50 -6.25 -0.64% 14/07/2015 CBOT Soybean Oil (US cents/lb) 32.55 0.30 0.93% 14/07/2015 CBOT Wheat (US cents/bu) 488.50 0.50 0.10% 14/07/2014 Jun-19 LIFFE Cocoa (£/tonne) 2120.00 -25.00 -1.17% 16/07/2015 LIFFE Coffee (US$/tonne) 1866.00 -22.00 -1.17%250 words
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563 2015-06-23 12 Jacquelyn Cheok - Participants in this round of fund-raising by homegrown tech news site include Facebook co-founder Eduardo Saverin By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore HOMEGROWN tech news site Tech in Asia on Monday said it has raised US$4 million in Series C funding to563 words
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Article, Illustration697 2015-06-23 12 Pauline Ng - By Pauline Ng btworld@sph.com.sg Kuala Lumpur RESPONDING to claims of questionable accounting practices at AirAsia Bhd (AAB), its audit committee on Monday clarified that the budget carrier had sought to put out clearer financial statements to reflect its actual fiscal position but wasPHOTO: REUTERS - 697 words
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342 2015-06-23 12 REUTERS New Delhi JAPAN’S Softbank Corp, together with Bharti Enterprises and Taiwan’s Foxconn, will invest about US$20 billion in solar projects in India, in one of the biggest investment pledges to date in the country’s renewable energy sector. Softbank, whichREUTERS - 342 words
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Article, Illustration368 2015-06-23 12 REUTERS Milan FERRERO, the maker of Nutella spread, has offered to buy British chocolate company Thorntons Plc for £112 million (S$237 million), a rare acquisition by the Italian group. The deal, backed by the board of Thorntons, brings together two of Europe’sREUTERS; PHOTO: BLOOMBERG - 368 words
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Advertisement741 2015-06-23 8 Turning your investment blueprint to reality with our insights r' ,i |4 Hi li I ICUlt w ll.ll 111 I il'.-.' llUTcl] i;;; H I I fcthi'U'jh ric;|"‘ l I ,,i .nui 1 ■a i Bplc Ini nhLxUe^rl K,.tiul mu ling their M Liy. she v such a chfc .111(1741 words
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Advertisement296 2015-06-23 9 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 reclining296 words
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Advertisement156 2015-06-23 12 MCCOY BESPOKE Learning Journey with Star Cruises A McCoy Bespoke SG50 Initiative On-Board Guest of Honour /Vlr Gu/t£ TQezutJ Mfimhfir nf Pnrlinmfint Member of Parliament Ang Mo Kio GRC Event Details Date: Venue: 29th July -1 st August (Wed Sat) SuperStar Aquarius Highlights; 4 Days 3 Nights Learning Cruise Enriching156 words
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REAL ESTATE
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Article, Illustration623 2015-06-23 13 Lee Meixian - Nomura believes the impetus to buy will come from the raising of the CPF salary ceiling and landlords’ discount offers By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore HOME renters today could switch to buying in 2016, Nomura said in a Monday report. More SingaporeansFILE PHOTO - 623 words
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617 2015-06-23 13 Subdued demand, slower economic activity and downbeat investor sentiment cited just 1.5 per cent between 2007 and 2011. REUTERS, AFP Dubai DUBAI residential property prices are likely to fall 10 to 20 per cent this year because ofjust 1.5 per cent between 2007 and 2011. REUTERS, AFP - 617 words
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Article198 2015-06-23 13 BLOOMBERG Oslo NORWAY’S Government Pension Fund Global, the world’s biggest sovereign wealth fund worth US$890 billion, plans to open an office in Tokyo as it prepares to enter Asia’s real estate market. The investor is in the process of building a team there andBLOOMBERG - 198 words
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Article, Illustration1261 2015-06-23 14 Holidaying in the Hamptons may not be ideal this year as Hillary mounts campaign built on lifting middle class NYT New York FOR the past several summers, Bill and Hillary Clinton have done what New York City’s moneyed residents have done for decades: theyNYT; PHOTO: REUTERS - 1,261 words
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Article, Illustration585 2015-06-23 14 Decision by State Council ends years of legal wrangling over historic site AFP Paris FRENCH authorities gave the go-ahead last Friday to renovate the iconic former Parisian department store La Samaritaine on the River Seine, ending years of legal wrangling over theAFP; PHOTO: AFP - 585 words
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Advertisement235 2015-06-23 13 KHEAM HOCK ROAD 2-storey bungalow with annex building Land approx 15,071 sq ft Freehold tenanted Development potential Near Botanic Gardens MRT Tender Closing: 23 July 2015 (Thur) 3.00pm 9828 0866 Tender Sale Rare Opportunity Mok Sze Sze CEA Reg No: R*****7H Jones Lang LaSalle Property Consultants Pte Ltd CEA Licence235 words
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Advertisement110 2015-06-23 13 Hong Fok Group Tender Sale JALAN LOYANG BESAR Land with 2-storey bungalow Approx 9,628 sq ft Walking distance to Pasir Ris Pk E!Hub Downtown East Wide Frontage, Development Potential Accessible to Pubic Transport TPE Tenure 999yrs wef 07/09/1885 Zoned Residential, Plot ratio 1.4 Tender Closing: 22 July 2015 (Wed) 3.00pm110 words
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Advertisement140 2015-06-23 13 En-bloc Sale of Fairhaven (Sophia Road) Istana Subject Tekka Centre Sophia Bt Timah Rd Rd Wilkie Rd Rd Wilkie Edge Plaza Singapura Selegie Rochor The Atrium Orchard Rd PoMo Orchard CathayCineplex St Prinsep Penang Rd SOTA Middle Rd Dhoby Ghaut MRT Park Mall NAFA Rendezvous Hotel Lane Bencoolen MRT(U/C) SMU140 words
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Advertisement109 2015-06-23 14 As part of INVEST Fair 2015, we are proud to present our inaugural INVEST IDOL contest where we would like YOU to exploit your knowledge in stock investing to come up with the most profitable portfolio. Pit your knowledge against your peers and get a chance to win CASH PRIZE109 words
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Advertisement76 2015-06-23 14 The first real estate and urban build conference in Myanmar m m^anmav Incorporating: Myanmar Q retail Urban and City Planning Conference 2015 Real Estate Show Myanmar 2015 3 5 August 2015 Yangon, Myanmar I f Your gateway to trends and investment opportunities in Myanmar's real estate For sponsorship opportunities, contact76 words
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Advertisement59 2015-06-23 14 HOT PROPERTY MYVILLAGE S'GOON Gdn. 172-1292sf. All Trades. F&B Nail Salon, Beauty, Retail Eyewear, etc. BLK 107 LOR 1 Toa Payoh Opp Braddell MRT. Grd flr 700sf/2-sty 1400sf $6.2k/ $8.2k. PRIME SHOP Marina Bay 861/ 2659/ 3520 sf. Expat Crowd. Downtown/ Raffles MRT. SHOP SPACES FOR RENT Check out these59 words
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BANKING & FINANCE
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899 2015-06-23 16 FATF says they appear to be so lax that many allegedly corruption-related transfers passed through the international financial system undetected REUTERS London A GLOBAL group of government an-ti-money laundering agencies said that financial institutions have not done enough to police suspicious financial activityREUTERS - 899 words
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171 2015-06-23 16 BLOOMBERG London BANKERS are more likely to behave unethically when under pressure to reach tough performance targets, according to a survey of British financial services employees. Managers in banking, insurance and wealth management were more anxious and inclined to misbehave when “negativeBLOOMBERG - 171 words
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Article, Illustration596 2015-06-23 16 IFR London THE UK Financial Conduct Authority has stunned banks with a sweeping draft request for data on thousands of bond and equity deals going back over the past five years. The proposed request is part of the FCA’s probe of competitionIFR; PHOTO: BLOOMBERG - 596 words
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912 2015-06-23 16 BLOOMBERG Boston ONE of the hottest areas for US money managers is quickly cooling off. Flows into hedge fund-like mutual funds, a category that attracted almost a third of the money going into actively managed funds in the past six years, have slowed thisBLOOMBERG - 912 words
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211 2015-06-23 16 BLOOMBERG Sydney GOLDMAN Sachs Asset Management’s Dion Hershan invested in Australian banks as concerns about capital levels and a weak economy battered their shares, betting that efforts to improve efficiency will bolster earnings. The US firm, which oversees about A$6.5 billionBLOOMBERG - 211 words
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Advertisement358 2015-06-23 16 The Business Times NOTICES IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF TENNESSEE PTE. LTD. Registration No.: *****1387R At an Extraordinary General Meeting of TENNESSEE PTE. LTD. duly convened and held on Monday, 22 June 2015 at 4 Shenton Way, #28-02 SGX Centre II,358 words
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Advertisement267 2015-06-23 16 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 BALISA SHIPPING TRADING PTE LTD Co. Reg. No. *****3249E MEMBERS’ VOLUNTARY LIQUIDATION At an Extraordinary General Meeting of the Company held on the 16th day of June 2015, the following special resolution was duly passed: “That the Company be wound up267 words
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ENERGY & COMMODITIES
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Article, Illustration839 2015-06-23 17 Including debt and other liabilities, the bid from billionaire Kelcy Warren is worth US$53.1b BLOOMBERG New York WILLIAMS Cos has rejected a US$48 billion stock-based takeover offer from pipeline magnate Kelcy Warren that aims to derail a consolidation of the NorthBLOOMBERG; PHOTO: BLOOMBERG - 839 words
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457 2015-06-23 17 BLOOMBERG Singapore IRON ore is headed back below US$50 a tonne as supplies from Australia and Brazil expand and a slump in steel prices squeezes mills’ profits, according to Goldman Sachs Group Inc, repeating a forecast that recent gains won’t last.BLOOMBERG - 457 words
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535 2015-06-23 17 WP Washington BEFORE the US embargo, Cuba bought more American rice than any other country in the world. Now, most Cuban rice comes from Vietnam. Last year, Cuba imported US$200 million worth of wheat virtually all of it from EuropeWP - 535 words
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260 2015-06-23 17 AFP Doha QATAR’S gas reserves are so vast that it can maintain production at current rates for another 138 years, according to an official report published. An “Economic Commentary” from the Qatar National Bank (QNB) on Sunday said that theAFP - 260 words
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Page 17 Advertisements
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Advertisement150 2015-06-23 17 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 COWORKING150 words
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TECHNOLOGY
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458 2015-06-23 18 NYT Palo Alto, California ON the first day back to work after the death of Dave Goldberg, the chief executive of SurveyMonkey, employees at the Silicon Valley company gathered to mourn. “Let’s be upfront,” Bennett Porter, the headNYT - 458 words
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Article, Illustration679 2015-06-23 18 Company reverses decision after singer complains; it will now pay full royalties during free trial of Apple Music NYT New York WHEN Taylor Swift speaks, even the most powerful company in the world listens. Less than 24 hours after Swift complained publicly thatNYT; PHOTO: AFP - 679 words
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Article, Illustration885 2015-06-23 18 NYT Seattle THREE Microsoft executives saw their responsibilities multiply last week when the company announced that it was consolidating its engineering efforts, leading to the departure of several senior executives. The one executive whose job will expand the most is Terry Myerson, in a changeNYT; PHOTO: BLOOMBERG - 885 words
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Article, Illustration686 2015-06-23 18 AFP Cotonou ADMIRING paintings or photographs by Africa’s greatest contemporary artists is a luxury in Benin, where museums are scarce and most people lack money to travel farther afield. But a new application developed by a foundation based in Cotonou, the largest city inAFP; PHOTO: BLOOMBERG - 686 words
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Page 18 Advertisements
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Advertisement24 2015-06-23 18 Analysts: Resale levy may cause EC prices to fall5%-7% this year to fall 5%-7% 13-%$840! EC^tg^agTilil5%-7% To subscribe, call 6388-3838 or go to sphsubscription.com.sg24 words
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Page 19 Advertisements
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Advertisement1064 2015-06-23 19 THE BVI BUSINESS COMPANIES ACT, 2004 Bugle Press Corporation Company No. *****09 (the "Company") a BVI Business Company NOTICE OF LIQUIDATOR'S APPOINTMENT NOTICE IS HEREBY GIVEN pursuant to section 204 (1) (b) of the BVl Business Companies Act, 2004 that Chong Weiyi of 1 Raffles Place, #28-02 Tower 1, Singapore1,064 words
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CONSUMER
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Article, Illustration900 2015-06-23 20 They are scrambling to tap the millions of new potential customers that Affordable Care Act has unleashed NYT New York THE world of American health insurance may soon become even smaller, with the biggest companies seeking to become even bigger. A scramble hasNYT; PHOTO: BLOOMBERG - 900 words
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Article, Illustration497 2015-06-23 20 BLOOMBERG New York THIS May, after billionaires had outbid billionaires in New York’s contemporary art auctions, something became immediately clear: Christie’s had just clobbered Sotheby’s with a gavel. Over four days, Christie’s sales totalled US$1.7 billion, its biggest week ever. On one of thoseBLOOMBERG; PHOTO: AFP - 497 words
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Page 20 Advertisements
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Advertisement494 2015-06-23 20 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 from494 words
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TRANSPORT
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Article, Illustration976 2015-06-23 21 Whether a needed new runway should be in Heathrow or Gatwick has been hotly contested for over 25 years REUTERS London A DECADES-LONG battle to expand Britain’s overcrowded airports is set for a crunch decision in the coming weeks, as the world’s fifthREUTERS; PHOTO: BLOOMBERG - 976 words
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454 2015-06-23 21 Firm has a BBB+ rating at S&P’s and a similar Baa1 grade at Moody’s BLOOMBERG Copenhagen AP Moeller-Maersk will use the headroom under its current credit rating to return cash to shareholders and make acquisitions instead of pursuing a higher grade. That’s accordingBLOOMBERG - 454 words
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Article, Illustration930 2015-06-23 21 NYT New York SUSAN Carroll has developed a tender relationship with the noise monitor on the roof of her apartment building in Queens. She refers to it as “my monitor” (even though she does not own it) and checks on it dailyNYT; PHOTO: NYT - 930 words
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334 2015-06-23 21 BLOOMBERG Dubai THE market for Islamic aircraft loans may have just doubled in size. Not content with issuing two of the largest sukuk on record to fund its aviation ambitions, Saudi Arabia via its state-owned carrier last week placed orders for 50 planes from AirbusBLOOMBERG - 334 words
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GOVERNMENT & ECONOMY
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Article, Illustration699 2015-06-23 22 Export-led growth is no longer serving the region well because of changes in the world economy REUTERS Jakarta IN the good old decades, many Asian governments could stick to a simple economic strategy ramp up exports and reap solid growth rates. Now, export-ledREUTERS; PHOTO: BLOOMBERG - 699 words
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662 2015-06-23 22 BLOOMBERG Singapore FOR many Asia-Pacific investors, the question is how many days rather than weeks Greece’s financial meltdown will hurt the region’s markets. After that, some see benefits. While the yield premium that investors demand to hold Asian corporate bonds will probablyBLOOMBERG - 662 words
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565 2015-06-23 22 BLOOMBERG New Delhi THE window of opportunity for Indian Prime Minister Narendra Modi to press for serious economic reform seems to be closing. A little over a year after taking office, his government has been caught up in its firstBLOOMBERG - 565 words
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Article, Illustration1029 2015-06-23 22 BLOOMBERG London THERE are three things that matter in the bond market these days: liquidity, liquidity and liquidity. How or whether investors can trade without having prices move against them has become a major worry as bonds globally tanked in the past few months.BLOOMBERG; PHOTO: REUTERS - 1,029 words
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Article, Illustration511 2015-06-23 23 Anthony Rowley - Going beyond using monetary stimulus and making calls to raise personal consumption, he now wants to persuade businesses to raise capital expenditure to spur growth By Anthony Rowley btworld@sph.com.sg Tokyo IN an apparent shift of emphasis in his “Abenomics” strategy for the economy,PHOTO: REUTERS - 511 words
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308 2015-06-23 23 REUTERS MOSCOW THE Russian government ordered 30 billion roubles (S$742.1 million) in cuts in spending on the 2018 World Cup finals on Monday, the latest cutback as an economic crisis takes a toll. No reason was given for the decision, but RussiaREUTERS - 308 words
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Article572 2015-06-23 23 Anthony Rowley - By Anthony Rowley btworld@sph.com.sg Tokyo THE leaders of Japan and South Korea have both spoken of the need for a “fu-ture-oriented relationship” between their countries in the coming years, in speeches delivered on Monday on572 words
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741 2015-06-23 23 BLOOMBERG Hanoi VIETNAM is betting that the most significant easing of business regulation in 25 years and an accelerated sale of state-owned firms’ shares will revive a flagging investment outlook. The government on July 1 will reduce to six fromBLOOMBERG - 741 words
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Article, Illustration620 2015-06-23 23 RE UTERS Bangkok THAILAND’S status as a hub for medical tourism could be helping the country contain the spread of Middle East Respiratory Syndrome (Mers), government and health officials said, after confirming its first case of the deadly virus last week. TourismREUTERS; PHOTO: AFP - 620 words
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OPINION
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542 2015-06-23 24 MALAYSIAN Prime Minister Najib Razak’s warning last week that the country should brace itself for headwinds could be considered timely but market talk of a repeat of the 1997/98 meltdown is overblown and unduly alarmist. As Mr Najib, who is also542 words
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Article, Illustration887 2015-06-23 24 Paul Krugman - Once the economy is near full employment, further growth depends on raising output per worker. While there are things that might help make that happen nobody knows how to conjure up rapid productivity gains. THE BOTTOM LINE By Paul KrugmanNYT - 887 words
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Article, Illustration1210 2015-06-23 24 Anthony Rowley - As the Beijing-based bank readies its Articles of Agreement for signing, relatively little is known about what it will actually do, or where its main theatre of operations will be By Anthony Rowley Tokyo FORMER British prime minister and statesman the late Winston Churchill onceFILE PHOTO; Source: Stratfor 2013 - 1,210 words
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941 2015-06-23 25 Joe Poon - COMMENTARY By Joe Poon TThe writer is vice-president of strategy at Logicalis Asia ONE of the biggest scare stories on the macroeconomic front right now is the slowing Chinese economy. This masks a potentially more significant development the share of services941 words
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754 2015-06-23 25 Shumpei Takemori - COMMENTARY By Shumpei Takemori T The writer is a member of the OMFIF Advisory Board, an economics professor at Keio university and senior research fellow at the Ministry of Finance and the Policy Research Institute Tokyo EUROPEAN creditors involved in754 words
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Article, Illustration1200 2015-06-23 25 Leon Hadar - Comparing the Charleston massacre last week and the 1963 bombing in Birmingham helps demonstrate the dramatic change in race relationships that have been taking place in the US in the last 50 years By Leon Hadar Washington NINE men and women were shot to deathPHOTO: AFP - 1,200 words
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983 2015-06-23 26 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 10983 words
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Page 26 Advertisements
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Advertisement179 2015-06-23 26 USE THIS SPACE TO SELL CALL JOE WONG AT *****327 TO ADVERTISE THE BUSINESS TRIES SHIPPING TIMES Experienced sh/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 Announce Your Corporate Development Come publicise your179 words
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LIFE & CULTURE
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Article, Illustration643 2015-06-23 27 It is among 8 sports listed for possible inclusion in Games; row rages over payment for main venue AFP Tokyo THE organisers of the 2020 Olympics on Monday nominated eight new sports for possible inclusion in the Tokyo Games, including baseball. TheAFP; PHOTO: REUTERS - 643 words
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Article, Illustration612 2015-06-23 27 AFP Budapest AN 87-year-old Hungarian woman aims this weekend to set a world record by beating 1920s Cuban chess grandmaster Jose Raul Capablanca at his own game: simultaneous play. Since the 1950s, Brigitta Sinka, a former top amateur player, has played aroundAFP; PHOTO: AFP - 612 words
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Article, Illustration699 2015-06-23 27 AFP Charleston, united States THE historic black South Carolina church where a white gunman murdered nine African Americans held its first service since the massacre on Sunday, an emotional gathering celebrating the lives of those slain. Several hundred congregants, some tearful, packed theAFP; PHOTO: AFP - 699 words
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Page 27 Miscellaneous
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Miscellaneous319 2015-06-23 27 CRYPTIC CROSSWORD Across 1 Tories lure out undecided (10) 6 Instrument with hot amp ends covering Queen (4) 9 Run away? It’s warranted (5) 10 Alarmed if retired, pottering about (9) 12 Positive sign of excitement going after gold (7) 13 Group virtuoso putting out single (5) 15 Work’s rejected319 words
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SME
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Article, Illustration1001 2015-06-23 28 MINDY TAN - Survey finds how world’s largest family businesses plan for succession, instill governance.BY governance.BY MINDY TAN tanmindy@sph.com.sg @MindyTanBT IT may seem innocuous, but branding yourself as a family business gives firms an edge. Which may be why 76 per cent of the 25 largestPHOTO: REUTERS - 1,001 words
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501 2015-06-23 28 Henrich R Greve - Organisations don’t always respond to threats, but they change quickly when their peers do COMMENTARY By Henrich R Greve T The writer is a professor of entrepreneurship at Insead and a co-author of Network Advantage: How to Unlock Value from Your Alliances and Partnerships IN501 words
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842 2015-06-23 28 Massimo Massa - COMMENTARY By Massimo Massa T The writer is a professor of finance and The Rothschild-Chaired professor of banking at insead. He is co-director of the Hoffmann Research Fund and a faculty member of the Insead Corporate Governance Initiative. WHEN General Growth842 words
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