The Business Times, 24 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
    31 1 THE BUSINESS TIMES 2015 SOCIETY OF NEWS DESIGN EXCELLENCE AWARD■BEST IN OVERALL REDESIGN■ S$1.00 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 Wednesday, June 24,2015
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  • DAILY DIGEST
  • Article, Illustration
    Lock icon PM Lee opens PSA’s S$3.5b Pasir Panjang development
    546 1  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore A S$3.5 billion project to add 15 mega containership berths to the Pasir Panjang terminal was officially opened on Tuesday, incidentally the 43rd anniversary of the arrival of the first containership in Singapore. The new berths,
    PHOTO: ALPHONSUS CHERN/THE STRAITS TIMES  -  546 words
  • Article
    Lock icon MARKETS
    27 1 Tuesday Change STI 3,339.78 +24.65 KL COMP 1,726.86 -5.90 NIKKEI 225 20,809.42 +381.23 HANG SENG 27,333.46 +252.61 SHENZHEN B 1,522.18 +8.17 DOW (11:45am EDT) 18,132.00 +12.22
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  • Article, Illustration
    Lock icon Weak prices pose demand questions
    975 1  -  Economists are divided on whether core inflation weakness is due to just supply-side factors or sub-par growth and pallid demand as well By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore SINGAPORE’S headline inflation in May remained in negative territory for the seventh straight month, just as the
    Source: Department of Statistics  -  975 words
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      Lock icon Page 1 Advertisements Column 1
      16 1 8 "*****1 *****4 RAMSAY’S KITCHEN Gordon Ramsay opens Bread Street Kitchen in Singapore TOP STORIES 4
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      Lock icon Page 1 Advertisements Column 2
      22 1 SBF-DP SME index SME sentiment dips again; lowest since 2013 TOP STORIES 2 WALL STREET Short-sellers lose their voice executive money 26
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      105 1 IMPROVING TRANSPARENCY Noble should pay heed to its corporate governance OPINION 22 SEVEN PALMS SENTOSA COVE V ss r r >. i- ■X V m* <'*7 w S NNV V"v id Mti Saunter along the less beaten path of life, where every day begins and ends with the rhythmic ebb
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  • TOP STORIES
    • Article, Illustration
      Lock icon SME sentiment at its lowest since 2013
      894 2  -  Business sentiment index covering 6 sectors dips for third straight quarter, though the above-50 score denotes that the outlook is still positive By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore SMALL and medium-sized enterprises (SMEs) in Singapore continue to feel the squeeze, bogged down by
      FILE PHOTO  -  894 words
    • Article
      Lock icon Keppel FELS, Sembcorp Marine deny allegations of Brazil bribery
      508 2  -  By Nikita Mathur mathurn@sph.com.sg Singapore SINGAPORE shipbuilders Keppel FELS Ltd and Sembcorp Marine Ltd’s unit Jurong Shipyard Pte have firmly denied any allegations of participation in Brazil’s ongoing bribery scandal involving contracts to build deep-water drilling vessels. Both companies, global leaders
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    • Article
      Lock icon Glossy finish, but basics lacking in mobile-banking services here
      506 4  -  Frost Sullivan: 4 banks’ services for banking on the go fail to offer fraud reporting and score poorly on cross-selling By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore SINGAPORE banks may have put the proverbial cart before the horse when it comes to
      506 words
    • Article
      Lock icon Global premium travel up 4.9% but growth trend stays weak, says Iata
      458 4  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore INTERNATIONAL premium travel picked up in April by expanding 4.9 per cent year on year, up from 4.6 per cent in March, although the growth trend remains fragile, according to the International
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    • Article, Illustration
      Lock icon Ramsay opens his marquee UK restaurant at MBS
      1286 4  -  By Tay Suan Chiang taysc@sph.com.sg @TaySuanChiangBT Singapore IF the waiters at Gordon Ramsay’s first Singapore restaurant Bread Street Kitchen are sweating, it’s not from being yelled at by the celebrity chef who built a successful career based on cooking and an exple-tive-filled
      PHOTO: REUTERS  -  1,286 words
    • Article
      Lock icon European markets surge on hopes of at least a fudged Greek deal
      700 4  -  By Neil Behrmann btworld@sph.com.sg London GREEK and European equities and bonds surged on Monday and Tuesday on hopes that at worst there will be a fudged deal between the indebted depressed nation and its creditors. Despite reservations of
      700 words
    • Article, Illustration
      Lock icon Mobile gaming revenues in South-east Asia seen exceeding US$7b
      506 5  -  The region will continue to record exponential growth in mobile gaming, driven by the adoption of smartphones and tablets By Ong Hui Qun ohuiqun@sph.com.sg Singapore AS the world’s fastest-growing region for the mobile gaming industry, South-east Asia is well on its
      PHOTO: BLOOMBERG  -  506 words
    • Article, Illustration
      Lock icon Factory activity, Beige Book point to China’s economy regaining momentum
      551 5 REUTERS Shanghai CHINA’S factory activity showed signs of stabilising in June, with two private surveys suggesting the economy may be regaining some momentum even as many analysts expect further policy support to ensure the recovery becomes more sure-footed. The HSBC/Markit
      REUTERS; PHOTO: REUTERS  -  551 words
    • Article
      Lock icon Manufacturing stabilising as durable orders rise in May
      871 5 LATEST US DATA REUTERS Washington A GAUGE of US business investment spending plans rose in May in a tentative sign of stabilisation in the manufacturing sector, which has been weak since the late summer of 2014. But the lingering effects of lower
      REUTERS  -  871 words
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      257 2 Celebrating SG50, a taste of yesteryear 21 June to 9 August 2015 A Toast of Kaya Paying homage to our nation’s popular breakfast spread, this smooth and luscious cocktail is available at Cafe Swiss, Introbar, Kopi Tiam and Lobby Court at $19.50++ per glass or $0.50++ for a third cocktail
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  • Page 5 Advertisements
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      217 5 ESSEC- MANNHEIM EXECUTIVE MBA ASIA-PACIFIC SHAPE YOUR CAREER, EMPOWER YOUR FUTURE 3 II LlUUIUUL llUUlblU /V\ Bl IB ■a ass n;ii: aitifc ir ®j®naE, Founded in 1907 in Paris, France, ESSEC Business School has been developing a unique learning model based on three principles: innovation, involvement and internationalization. Leveraging on
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Growth of emerging East Asia bond market moderates in Q1
      696 6  -  Market size expands to US$8.3 trillion at end-March; Singapore is largest issuer among Asean members BUOYANT BONDS Reports by Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore THE local currency (LCY) bond market in emerging East Asia continued to expand in the
      Source: ADB  -  696 words
    • Article, Illustration
      Lock icon Foreign investors still keen on East Asia bonds
      845 6 Singapore FOREIGN investors remain keen buyers of East Asia bonds despite the strengthening US dollar, said the Asian Development Bank (ADB) on Tuesday. Foreign investor interest in local currency (LCY) government bonds remained upbeat in a number of markets in Q1 2015
      Sources: AsianBondsOnline and Bloomberg LP  -  845 words
    • Article
      Lock icon PICTET
      263 6 Pictet-Absl Rtn Fxd Inc-HP EUR 18/06/2015 EUR 103,20 Pictet-Absl Rtn Glo Div-P EUR 18/06/2015 EUR 119,63 Pictet-Asian Equities Ex Japan-P USD 18/06/2015 USD 208,32 Pictet-Asian Local Currency Oebt-P USD 19/06/2015 USD 144,80 Pictet-Biotech-P USD 19/06/2015 USD 848,32 Pictet-Clean Energy-P USD 18/06/2015 USD 91,03 Pictet-Digital Communication-P USD 18/06/2015 USD 236,20
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    • Article
      Lock icon RafflesMed launches S$4 million centre in Orchard Road
      456 6  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore TO cater to a heavier patient load, integrated private healthcare provider Raffles Medical Group (RMG) has launched a new S$4 million multi-dis-ciplinary medical centre in Orchard Road to serve local patients and medical tourists in the
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    • Article, Illustration
      Lock icon Navigating the soft industrial property market
      896 7  -  AA Reit strategy: lock in longer leases, enhance tenant mix, renovate facilities to capture flight to quality By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore GOVERNMENT intervention measures and Singapore’s ongoing economic restructuring are softening the industrial property market acutely, and AIMS AMP Capital Industrial Reit
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    • Article
      Lock icon Fitch affirms ratings for Singtel, Optus with stable outlook
      416 7  -  By Fiona Lam fionalam@sph.com.sg Singapore FITCH Ratings on Tuesday affirmed Singapore Telecommunications' long-term foreign and local-currency issuer default ratings as well as its senior unsecured rating at A+. The credit rating agency also affirmed Singtel’s wholly owned Australian subsidiary Optus’ long-term
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    • Article, Illustration
      Lock icon STI / Catalist
      63 8 STI Catalist Straits Times Index June 23,2015 3,339.78 +24.65 (+0.74%) Current streak 3 days Day high 3,343.83 Day low 3,323.26 52-week high 3,539.95 (Apr 15, 2015) 52-week low 3,154.21 (Oct 16, 2014) FTSE ST Catalist Index June 23,2015 672.99 -2.16 (-0.32%) Current streak 1 day Day high 676.05 Day low
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    • Article, Illustration
      Lock icon Regional markets up on Greece hopes
      747 8  -  ST Index increases 24.7 points as gainers outdo losers 232 to 196; Ezra and Singtel in active play STOCKS By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT SINGAPORE stocks rallied together with Asian markets on Tuesday as signs emerged that Greece might be able to strike a
      Source: Bloomberg  -  747 words
    • Article
      Lock icon STI STOCKS
      309 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 247 +3 247/242 271 219 5.9 6250.1 CapitaLand 343 +4 345/340 379 293 12.6 2.6 *****.3 CapitaMall Trust 212 +2 215/209 228 188.5 5.1 7355.8 CityDev 961 +1 965/956 1095 915 11.6
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    • Article
      Lock icon MOST ACTIVE
      34 8 VOLUME Debao Property 72,941,600 IHC 41,603,700 Noble 37,462,800 LifeBrandz 35,796,100 Ezra 31,152,200 Market volume 1,280,141,000 VALUE Singtel 74,913,614 Global Logistic 53,229,525 OCBC Bank 46,901,181 JMH USD 42,839,518 UOB 42,374,057 Market value 942,108,000
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    • Article
      Lock icon SGX ETFs Most Active
      110 8 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap UETF SSE50China 301 +8 297 301/286 340/140 303/305 94.1 STI ETF 339 +2 156 339/337 355/319 338/339 IS MS INDIA US$ US753 +3 150 753/747 1000/696 750/755 94.1 IS ASIA HYG US$ US1065 +2 53 1067/1065
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Jun 23 VALUE CLOSE BT OB/OS -47.00 +205.00 BT CADI -*****.00 +22.00 BT 10-day MA -*****.00 -5.00 FTSE ST Mid Cap 765.86 -0.14 FTSE ST Small Cap 482.44 +0.99 FTSE ST All Share 802.27 +4.71 FTSE ST China Top 207.26 +1.39 FTSE ST China 245.40 +3.71 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 23,2015 802.27 +4.71 (+0.59%) Current streak 3 days Day high 802.97 Day low 799.19 52-week high 847.98 (Apr 15, 2015) 52-week low 762.71 (Oct 16, 2014)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE Index June 22,2015 1,922.70 +39.79 (+2.11%) Current streak 3 days Day high 1,923.65 Day low 1,885.25 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 4 5 0 0 0 4 4 5 Manufacturing 56 37 41 6 11 13 62 48 54 Commerce 16 19 17 3 5 5 19 24 22 Tpt/Stor/Comms 12 9 13
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 10,552 10,552 50,397 50,397 Manufacturing 153,878 56,226 210,104 68,182 2,767 70,949 Commerce 109,076 28,175 137,251 89,968 1,271 91,239 Tpt/Stor/Comms 121,943 1,462 123,405 162,360 107 162,466 Finance 13,466 139 13,605 145,536 26 145,562 Construction 14,411 6,524
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    • Article
      Lock icon GAINERS
      72 8 BY CENTS CLOSE UP 52w high/low DBXT Nifty US$ ***** 656.7 3.8 *****/***** JMH USD 5648 131.1 1.8 6788/5410 JSH USD 3104 112.4 2.8 3810/2987 DBXT China50 US$ 3885 86.9 1.7 4258/2800 DBXT MSKorea US$ 5670 86.9 1.2 6735/5435 BY PERCENTAGE CLOSE UP 52w high/low Joyas W*****5 0.7 600.0
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    • Article
      Lock icon LOSERS
      73 8 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -157.8 -1.0 *****/***** SPDR S&P500 US$ ***** -41.5 -0.1 *****/***** AIM 28 -36.5 -56.6 70/25.5 Raffles Medical 451 -13.0 -2.8 468/375 DBXT MSINDO US$ 1290 -10.7 -0.6 1542/1242 BY PERCENTAGE CLOSE DOWN 52w high/low AIM 28 -56.6-36.5 70/25.5 UOB MB
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    • Article
      Lock icon UNUSUAL ACTIVITY
      83 8 VOL CLOSE($) CHANGE China Hongcheng 315.7 0.005 +0.001 +25.00 Foreland FabriT 18,840.0 0.014 +0.002 +16.67 Chinese Global 366.0 0.006 -0.001 -14.29 Xyec 245.5 0.192 -0.038 -16.52 E2-Capital 40.1 0.120 -0.030 -20.00 LifeBrandz 35,796.1 0.008 +0.001 +14.29 PTR ADR US$ 0.01 114.760 -13.340 -10.41 Ziwo 100.1 0.060 +0.019 +46.34
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    • BROKERS’ TAKE
      • Article
        Lock icon GuocoLand
        198 8 Add June 23 close: S$2.39 Target price: S$2.88 CIMB, June 22 THE group is on track to achieve a more sustainable return on equity by expanding recurrent income base from FY17. Room to move up the value chain to fund management exists in mid-term. With the legal ownership resolved,
        198 words
      • Article
        Lock icon Solar sector
        343 8  -  Compiled by Jacquelyn Cheok BMI Research, June 22 HIGH electricity prices, decreasing solar technology costs and a growing number of household installation options are driving the uptake of residential solar systems in Singapore. However, the potential is capped given the limited land space in the country and the
        343 words
    • Article
      Lock icon CALENDAR
      10 8 I 8 pm (June 24) US MBA Mortgage Applications
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    • Article
      Lock icon Euro falls in face of higher US yields, Greek doubts
      494 9 CURRENCIES REUTERS London THE euro fell back on Tuesday, hurt by a rise in US bond yields and as traders fretted over whether Greece and its creditors could overcome political barriers and seal a debt deal. The euro’s move above
      REUTERS  -  494 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Jun 23 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.953 4.794 0.686 5.988 49.106 102.549 0.955 8.537 2.894 1.127 78.567 34.835 1.033 9.371 0.716 23.820 26.067 0.489 0.772 Canada 1.049 5.029
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      • Article, Illustration
        Lock icon HANG SENG
        2 9
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      • Article, Illustration
        Lock icon NIKKEI
        1 9
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 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 23 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0327 1.0337 0.7721 0.7726 Canadian dollar 1.0834 1.0842 0.8104 0.8100 Euro 1.5063 1.5070 1.1262 1.1264 NZ dollar 0.9165 0.9173 0.6852 0.6856 Sterling pound 2.1106 2.1120 1.5780 1.5786
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      • Article
        Lock icon US$/S$ FORWARD RATES
        21 9 Jun23 S$ Bid Offer 1-month 1.3380 1.3388 2-months 1.3388 1.3395 3-months 1.3393 1.3398 6-months 1.3414 1.3424 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES Most active
        197 9 Jun 23 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left FTSEChinaA50 ***** MBeCW*****0 3.9 0.9 6342 0.0 --1 WE Holdings Ltd W*****5 0.2 unch 5676 1 0 2 FTSEChinaA50 ***** MBeCW*****9 14.7 2.5 4730 0.0 3 UOB
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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 22 Index Change Change Change Change Change Change World Preliminary 1355.5 1.3 6.2 1.3 6.0 1.3 5.2 EAFE Preliminary 1091.4 2.0 10.6 2.1 9.1 2.1 8.3 Europe Preliminary 1515.0 2.6 9.6
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        401 9 Jun 23 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.80 *****.66 *****.96 Jun15 *****.00 *****.00 *****.50 *****.00 ***** *****8 Jul15 *****.50 *****.50 *****.50 *****.00 3240 *****9 NIKKEI 225 INDEX FUTURES SPOT *****.74 *****.42 *****.13 Sep15 *****.00 *****.00 *****.00 *****.00 ***** *****6 Dec15
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    • BANK RATES
      • Article
        Lock icon SIBOR
        36 9 Jun 23 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 23 $S Offer Bid 0vernight 0.11 0.09 1-month 0.6875 0.5625 2-months 0.75 0.625 3-months 0.8125 0.6875 Overnight mode: 0.10 US$ Offer Bid 7 days 0.22 0.12 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
        65 9 Jun 23 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.47 5-Year N*****0H 1.625 01-Oct-19 99.43 99.63 99.45 10-Year NX*****Z 2.375 01-Jun-25 97.93 98.10 98.00 15-Year NY*****E 2.875 01-Jul-29 100.05 100.15 100.15 20-Year NZ*****V 3.375 01-Sep-33 105.22 105.50 105.50
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 9 Jun-22 Price Net change change Last Trade Agricultural Jun-22 CBOT Soybeans (US cents/bu) 989.50 18.00 1.85% 14/07/2015 CBOT Soybean Oil (US cents/lb) 32.92 0.37 1.14% 14/07/2015 CBOT Wheat (US cents/bu) 501.25 12.75 2.61% 14/07/2014 Jun-22 LIFFE Cocoa (£/tonne) 2135.00 15.00 0.71% 16/07/2015 LIFFE Coffee (US$/tonne) 1857.00 -9.00 -0.48%
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    • Article
      Lock icon US-listed Chinese firms seek exit for better valuations back home
      686 10 Privatisation bids by these companies often lead to rallies in their shares but some US investors say the offers don’t reflect the stocks’ real worth BLOOMBERG New York CHINA’S largest online matchmaking site has surged 60 per cent since its
      BLOOMBERG  -  686 words
    • Article
      Lock icon Asia equity dividend funds see surge in inflows
      342 10 REUTERS Singapore ASIA dividend-paying equity funds are drawing billions of dollars that could have gone into other equity funds in the region, as investors seek out assets that yield more than bonds but are less risky than direct stock purchases. In January
      REUTERS  -  342 words
    • CORPORATE DIGEST
      • Article
        Lock icon ABR Holdings
        112 10 ABR Holdings has terminated its conditional joint venture with Palate Group by mutual consent. The joint venture, All Best Foods, announced earlier this year, was meant to tap the industry knowledge and experience of Palate Group's founder to manage and further develop abr Holdings' food and beverage brands.
        112 words
      • Article
        Lock icon Leader Environmental Technologies
        104 10 LEADER Environmental Technologies (LET) plans to raise S$2.31 million by selling 51.3 million new ordinary shares at 4.5 Singapore cents apiece, in a proposed private share placement. The new shares represent 9.29 per cent of LET'S existing issued share capital. The placement price is a 10 per
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      • Article
        Lock icon LionGold Corp
        88 10 LIONGOLD Corp said on Tuesday that Asiasons Investment has ceased to be one of its substantial shareholders. Asiasons Investment sold off its 3.27 per cent deemed stake via its wholly-owned subsidiary vibrant Coast Management on June 19. This leaves it with a 1.84 per cent direct interest in
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      • Article
        Lock icon Ascott Residence Trust
        87 10 ASCOTT Residence Trust (Ascott Reit) has raised S$250 million from the issuance of perpetual securities at a fixed distribution rate of 4.68 per cent per annum, which will be used to fund potential acquisitions. Orders exceeded S$1 billion, or four times the issue size. Ascott Residence Trust
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      • Article
        Lock icon Ezra Holdings
        102 10 EZRA Holdings' shareholders have approved the company’s plans to raise up to US$300 million through a rights issue and the issue of convertible bonds to repay existing debt. The group expects to raise US$150 million from the rights issue and S$200 million from the convertible bonds issue. Gross
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      Lock icon Page 6 Advertisements Column 1
      21 6 BE CHAUFFEUR DRIVEN DAILY MONTHLY RATES AVAILABLE TL y 7 UBI CLOSE, SINGAPORE *****4 ©(65)*****638 Ride&r alpin6Cdrr6ntdl.C0m.SQ *Terms and conditions apply
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      Lock icon Page 6 Advertisements Column 2
      31 6 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.
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    • Advertisement
      Lock icon Page 6 Advertisements Column 3
      24 6 HZ I*. f :k SNIFF OUT GOOD DEALS AT AUCTIONS Check out information on auctions in The Straits Times Notices. THE STRAITS TIMES NOTICES
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      Lock icon Page 7 Advertisements Column 1
      237 7 AccountStaff® A Stone Forest Company Globally Connected RSM International SWAT Accounting N 1 Meet urgent audit deadlines Deal with sudden staff departures System change and data migration _L L_ r f S3 r i r PARKROYAL i I SERVICED SUITES parkroyalhotels.com You'll be surprised at how quickly you feel at
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  • Page 10 Advertisements
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      Lock icon Page 10 Advertisements Column 1
      1490 10 EDITOR'S CHOICE We bring you three top stories in full at businesstimes.com.sg every day thebusinesstimes btbreakingnews AZEUS SYSTEMS HOLDINGS LTD. (Incorporated in Bermuda on 10 May 2004) (Registration Number: *****) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Company will be held
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      Lock icon Page 10 Advertisements Column 2
      25 10 SINGAPORE BL G AWARDS mm mm 2 0 15 WHICH WILL BE THE TOP 10 MOST POPULAR BLOGS? n^N0W AY W.' B/u-ray 30 sgblogawards.omy.sg www.omy.sg
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      Lock icon Page 10 Advertisements Column 3
      28 10 Blow your own trumpet Buy new musical instruments or put up your old ones for sale in CLASS 72 To advertise, call the Print Classified Hotline: 1800-289 9988
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  • REAL ESTATE
    • Article
      Lock icon HY Realty makes top bid of S$483m for Dundee Road site
      733 11  -  It beats Allgreen’s offer by 8.4%; its owners are shifting their focus from suburban to city-fringe homes By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore HY Realty, which shares the same shareholders as Chinese developer Hao Yuan Investment, has emerged as
      733 words
    • Article, Illustration
      Lock icon Free to good owner – Sicily town gives away homes
      794 11 Free to good owner Sicily town gives away homes Gangi offers abandoned houses to people who can restore the properties in four years NYT Gangi, Sicily LOOKING for a home? One Sicilian town is making an offer that is hard to refuse: It is giving away houses. There is a
      NYT; PHOTO: NYT  -  794 words
    • Article
      Lock icon Manulife hires 3 executives in commercial property expansion
      232 11 BLOOMBERG Toronto MANULIFE Financial Corp added Jenn Lundmark to a private investing unit, one of three appointments announced on Monday as Canada’s largest life insurer expands its commercial property strategy. Ms Lundmark was named head of real estate fundraising at Manulife Asset
      BLOOMBERG  -  232 words
    • Article
      Lock icon Ivanhoe Cambridge leads investment in China developer
      361 11 REUTERS Montreal IVANHOE Cambridge, the real estate arm of a top Canadian pension fund, said on Monday that it led a US$920 million capital raising in Shanghai developer Chongbang Group, as it and others in its consortium look to Asian markets for higher
      REUTERS  -  361 words
  • Page 11 Advertisements
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      Lock icon Page 11 Advertisements Column 1
      47 11 GCB for Sale GALLOP PARK Land area approx. 27,491 sq ft Elevated with inground pool Quiet cul-de-sac; MRT Near to Botanic Gardens For further information, please call Carin Puah CEA Reg No: R*****3B 6494 3890 Jones Lang LaSalle Property Consultants Pte Ltd CEA Licence No. L*****26E www.jll.com.sg
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      Lock icon Page 11 Advertisements Column 2
      31 11 $1.50psf $350psf ONWARDS PAYA UBI INDUSTRIAL PARK LEASE SALE 200 to 7,500 sq ft Own parking space (not inclusive in listed area) Tel: 9090 2222 Office: 53 Ubi Avenue 1 #01-11
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon Market watchdogs push back against central banks
      873 12 Regulators are against the imposition of bank-style rules such as capital requirements on market players REUTERS London AN uneasy truce between market watchdogs and central banks, struck during the financial crisis, is showing signs of strain as they look for ways to tackle
      REUTERS; PHOTO: BLOOMBERG  -  873 words
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      Lock icon Wider yuan trading band seen in China push for reserve status
      771 12 But it will be only a symbolic move as Beijing tightens grip on exchange rate BLOOMBERG Hong Kong CHINA’S quest to get the yuan recognised as a reserve currency is fuelling expectations that trading limits will be relaxed this
      BLOOMBERG; PHOTO: BLOOMBERG  -  771 words
    • Article
      Lock icon Jakarta may ease curbs on foreign ownership for Islamic banks
      237 12 REUTERS Jakarta INDONESIA’S financial regulator said it may ease foreign ownership restrictions for Islamic banks a move that could attract Middle Eastern lenders such as Bahrain’s Al Baraka Banking Group. Under a 2012 rule introduced amid calls by nationalist politicians
      REUTERS  -  237 words
    • Article
      Lock icon No sharing of stage for Swiss giants Credit Suisse, UBS
      425 12 BLOOMBERG Zurich ONE of Switzerland’s two global banks was conspicuously absent from the Innovation in Finance conference in April at the Dolder Grand, a castlelike hotel overlooking Zurich. Credit Suisse Group, the country’s second-biggest lender, sponsored the event. That meant
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      1094 12 AZEUS SYSTEMS HOLDINGS LTD. (Incorporated in Bermuda on 10 May 2004) (Registration Number: *****) NOTICE OF SPECIAL GENERAL MEETING All capitalised terms in this Notice of SGM and defined in the circular dated 24 June 2015 (the “Circular”) shall, unless otherwise defined herein, bear the respective meanings ascribed thereto in
      1,094 words
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Flooding of US Plains helps boost farmers’ income
      675 14 Storms inundated fields across Texas and Oklahoma but they broke a drought that wreaked havoc on the profitability of growers, cattlemen REUTERS Chicago FARMERS are reaping higher yields and ranchers’ feed costs have fallen sharply since flooding swept across the southern US
      REUTERS; PHOTO: REUTERS  -  675 words
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      Lock icon European oil industry pulls a volte-face to save the climate
      888 14 BLOOMBERG London IT came together in Oslo. The chiefs of some of Europe’s biggest energy companies decided to pull a historic about-face. It was time to heed the protesters marching in the snow outside their industry conference demanding action to
      BLOOMBERG  -  888 words
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      1517 14 The Business Times NOTICES IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF BELGASIA SINGAPORE PTE. LTD. (PROVISIONAL LIQUIDATORS APPOINTED) Company Registration No. *****3398E NOTICE OF APPOINTMENT OF PROVISIONAL LIQUIDATORS PURSUANT TO SECTION 291(4) OF THE COMPANIES ACT, CAP. 50 Notice is hereby given that
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  • TECHNOLOGY
    • Article
      Lock icon Facebook wants advertisers to employ data more effectively
      465 15 It is encouraging more creative tactics, such as distributing different versions of the same ad depending on a viewer’s interests BLOOMBERG San Francisco FACEBOOK INC is pushing advertisers to be more strategic with the vast data the social website has on its
      BLOOMBERG  -  465 words
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      Lock icon Google’s online lab offers tools for news reporting
      424 15 AFP San Francisco GOOGLE on Monday launched an online lab where journalists can learn or sharpen Internet Age reporting skills. The News Lab mission is to collaborate with journalists and entrepreneurs to apply technology innovations to reporting news, lab director Steve Grove
      AFP  -  424 words
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      Lock icon Oracle looking to compete with Amazon’s cloud services
      198 15 REUTERS London ORACLE Corp founder and executive chairman Larry Ellison said his database company is expanding its cloud-computing offerings, bringing Oracle into more direct competition with Amazon.com Inc. “We’re prepared to compete with Amazon.com on price,” said Mr Ellison in a webcast
      REUTERS  -  198 words
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      330 15 KONICA MINOLTA Peek into a typical human resource department and you will find large, gray filing cabinets as part of the interior evidence that HR departments are paper-intensive and manually operated. Scores of documents such as past and current employee records, tax documents, job applications, employee reviews, staff identifications, and
      330 words
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  • CONSUMER
    • Article, Illustration
      Lock icon Squatting in skinny jeans poses health risk
      315 16 AFP Paris SQUATTING in super-tight “skinny” jeans may pose a health risk, Australian doctors warned on Tuesday, reporting the case of a woman who temporarily lost feeling in her legs from an hours-long squeeze. The 3 5 -year-old collapsed and had to be
      AFP; FILE PHOTO  -  315 words
    • Article
      Lock icon Sale price of Martha Stewart Living disappoints shareholders
      646 16 Sequential Brands is buying media and merchandising group for only US$300 million after subtracting net cash BLOOMBERG New York MARTHA Stewart Living Omnimedia Inc finally agreed to sell itself. The agreed-upon price left shareholders disappointed. The company founded by home-decor and lifestyle
      BLOOMBERG  -  646 words
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      Lock icon Fighting climate change could save lives, money: US report
      342 16 AFP Washington TAKING action against global warming by reducing greenhouse gas emissions could save thousands of lives and avoid major economic losses before the century’s end, said a US government report issued on Monday. The cost of inaction is compared with
      AFP; PHOTO: REUTERS  -  342 words
    • Article
      Lock icon US Supreme Court stands by precedent in Spider-Man toy patent case
      326 16 NYT Washington WRITING for the majority in a patent case about a Spider-Man toy, Justice Elena Kagan concluded her decision with a quotation from a 1962 Spider-Man comic book: “In this world, with great power there must also come
      NYT  -  326 words
    • Article
      Lock icon US cancer body unveils method to evaluate treatments
      386 16 NYT New York ALARMED by the rapid escalation in the price of cancer drugs, the United States’ leading oncology society unveiled on Monday a new way for doctors and patients to evaluate treatments one that pointedly includes a medicine’s cost as well
      NYT  -  386 words
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      1293 16 The Business Times NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.sphclass.com.sg/notices Xpress XPRESS HOLDINGS LTD (Company Registration No. *****2058Z) (Incorporated in Singapore with limited liability) NOTICE OF EXTRAORDINARY GENERAL MEETING Unless otherwise defined all capitalised terms herein shall bear the same meaning as used in the circular dated 24 June 2015
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  • TRANSPORT
    • Article
      Lock icon Tackling maritime crime without going overboard
      901 19  -  SSA says that it is important to distinguish between armed robbery and piracy, noting that only 14% of attacks on merchant vessels in Q1 are classified as piracy STRAIT TALK BY DAVID HUGHES IF a gang of cut-throats armed to the teeth climb on
      901 words
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      Lock icon Shipping bond tests foreign investors’ faith in Joko’s revival plan
      692 19 BLOOMBERG Singapore AN Indonesian shipping company is offering the first dollar bond from the country’s industry in more than five years. Indonesia President Joko Widodo must be hoping it succeeds. PT Soechi Lines is planning to issue US$200 million of
      BLOOMBERG; PHOTO: REUTERS/ANTARA FOTO  -  692 words
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      Lock icon US, Gulf carriers’ dispute over subsidies at impasse
      492 19 BLOOMBERG Hong Kong A DISPUTE between the largest US airlines and Persian Gulf carriers over alleged subsidies has reached an impasse and should be taken up at the government level, the head of American Airlines Group Inc said. American Airlines, Delta Air
      BLOOMBERG  -  492 words
    • Article
      Lock icon Pint-size jets target market gap created by Bombardier ambitions
      783 19 The Dornier 328, last built in 2004, will resume assembly at a factory near Ankara after Turkey ordered 50 aircraft BLOOMBERG London THIRTY-SEAT jets that disappeared from aviation a decade ago as Bombardier Inc led a move into short-hop planes the
      BLOOMBERG  -  783 words
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      Lock icon New Zealand grounds all flights after radar failure
      636 20 Operations resume after system was restored in about two hours; officials say safety was never compromised BLOOMBERG Wellington NEW Zealand grounded all planes on Tuesday after a radar failure prompted the authorities to halt commercial flights across the nation, stranding hundreds of
      BLOOMBERG; PHOTO: BLOOMBERG  -  636 words
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      Lock icon AirAsia buffeted in India by price wars and stringent rules
      1364 20 NYT New Delhi WHEN the fast-growing Malaysian carrier AirAsia wanted to expand, India looked like the ideal frontier. The country had hundreds of millions of potential first-time fliers, many in second and third-tier cities that have just a few flights
      NYT; PHOTO: REUTERS  -  1,364 words
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      Lock icon Takata stopped safety audits as cost-saving move: US Senate report
      646 20 NYT New York IN the middle of what would become the largest automotive recall in US history, the Japanese airbag manufacturer Takata halted global safety audits to save money, according to internal company emails cited in a report published on
      NYT; PHOTO: REUTERS  -  646 words
    • Article
      Lock icon Thai unit of AirAsia X to suspend flights to Sapporo
      252 20 REUTERS Bangkok THAI AirAsia X, the country’s largest budget long-haul carrier, will suspend services from Bangkok to Sapporo in Japan from Aug 1 due to a downgrade of Thailand’s aviation safety rating. Thai AirAsia X, part of Malaysia’s AirAsia X
      REUTERS  -  252 words
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      31 19 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.
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    1779 21 MONTREAL 10 120 29/7 30/7 4/8 MONTREAL 10 120 29/7 30/7 4/8 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) SIN PKL KUC MUA KK JKT POSITIVE STAR 107 100 29/6 1/7 1/7 CALMY CORAL 90 60 10/7 12/7
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      104 21 Experienced ship maintenance services wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 SHIPPING TIMES Make A Splash In The Maritime World Via stfi Sfnaritime.coM Ahoy there! If you are in a business pertaining to any sector of the maritime
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  • OPINION
    • Article
      Lock icon No Grexit for now but the need for some debt relief will be inescapable
      634 22 WITH barely a week to go before the expiration of Greece’s bailout arrangement with its creditors, the two sides appear to be finally close to a deal that will, for now at least, enable Greece to
      634 words
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      Lock icon HK voting fiasco presages tightening of Beijing’s control
      813 22  -  THE BOTTOM LINE By Frank Ching T The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 Hong Kong AS expected, the Hong Kong government’s electoral reform package, which had been the focus of heated debate, failed to
      813 words
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      Lock icon Noble should pay heed to its corporate governance
      1734 22  -  Its practices in picking its board of directors, remuneration policy and degree of disclosure fly in the face of a company that is reportedly working on improving transparency. BY MAK YUEN TEEN transparency.BY MAK YUEN TEEN TThe writer is an associate professor
      PHOTO: REUTERS  -  1,734 words
    • Article
      Lock icon Ambitious or not, Paris must deliver climate deal
      1040 23  -  COMMENTARY By G Panicker TThe writer is a former BT journalist with a particular focus on energy and climate-change issues WE need a climate deal out of Paris this year, perfect or not. Heads of state must sign it in December at
      1,040 words
    • Article
      Lock icon Eight truths about Greece and what the future holds
      850 23  -  COMMENTARY By David Marsh T The writer is managing director and co-founder of the Official Monetary and Financial institutions Forum ACRES of column inches have been expended on Greece and the future. Here are eight succinct truths to guide observers through
      850 words
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      Lock icon Foreign policy success could be high point of Obama’s legacy
      1095 23  -  It is possible that the US president could secure not just a historic nuclear deal with Iran, but also legislation that could enable two potentially game-changing trade agreements. BY ANDREW HAMMOND agreements.BY ANDREW HAMMOND TThe writer is an associate at
      PHOTO: AFP  -  1,095 words
    • Article
      Lock icon Hike in Singtel CEO’s pay is not based on profits alone
      325 23  -  LETTER TO THE EDITOR Simon Israel Chairman, Singtel I AM compelled to respond to Melissa Tan’s report, Singtel CEO’s FY2015 pay up 19% at S$5.6m (BT, June 23). It is important that our stakeholders and the public have a
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon 23,000 species threatened with extinction
      622 24 They include the lion, cave crabs of Bali and New Zealand sea lion; however, populations of Iberian lynx and Guadalupe fur seal recovering AFP Geneva THE mighty lion, reclusive cave crabs and the world’s rarest sea lion are among nearly 23,000 species at risk of
      AFP; PHOTO: AFP  -  622 words
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      Lock icon Australia crocodile safaris may be possible by year end
      586 24 It will provide much needed revenue to aboriginal communities, says minister AFP Sydney CROCODILE safaris for big game hunters could be under way in Australia’s tropical north by the end of the year, providing much needed revenue to aboriginal communities, a
      AFP; PHOTO: AFP  -  586 words
    • Article, Illustration
      Lock icon IBM, GM chiefs raise women’s profile at annual US media conference
      385 24 But women still make up a small percentage of the attendees fewer than 25 of the more than 300 invited BLOOMBERG Southfield, Michigan IBM chief executive officer Ginni Rometty and her counterpart at General Motors, Mary Barra, are scheduled
      BLOOMBERG; PHOTOS: AFP, BLOOMBERG  -  385 words
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  • Page 24 Miscellaneous
    • Miscellaneous
      Lock icon Page 24 Miscellaneous Column 1
      340 24 CRYPTIC CROSSWORD Across 1 Pal is hot, ill doctor may be here (8) 6 Humble way followed by saint (6) 9 Counsellor taking fellows to eminence in Devon? (6) 10 Representative of death in play? (8) 11 Vehicle taking hundred to match, first to leave (8) 12 Pimple at side
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  • Page 25 Advertisements
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      51 25 emirates.com/sg Say hello to free Wi-Fi in the sky Now it’s free to connect on most of our A380 aircraft. Or buy 500MB for just USD1. World-class service Earn Skywards Miles Enjoy a stopover in Dubai For more details, visit emirates.com/sg, call us at 6622 1770 or contact your travel
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  • EXECUTIVE MONEY
    • Article, Illustration
      Lock icon Short-sellers lose their voice
      1184 26 Being a short-seller is no longer worth the trouble for many hedge fund managers as investors do not want to miss out on a stockmarket rally NYT New York FOR some, they are the scourge of Wall Street. Yet short-sellers investors who stake bets against stocks
      NYT; PHOTO: NYT  -  1,184 words
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      Lock icon In Japan, ROE becomes the acid test
      789 25 With a stewardship code in place, asset managers and activist investors are engaging managers on improving performance BLOOMBERG Tokyo A FTER almost three decades of investing in Japanese stocks without pushing companies for higher returns, Naoki Fujiwara says it’s finally time to change.
      BLOOMBERG; PHOTO: AFP  -  789 words
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      Lock icon Wall St says goodbye to a towering figure
      982 25 JPMorgan vice-chairman James lee dies at 62 after collapsing while exercising NYT New York JAMES B Lee Jr, a towering figure on Wall Street, was remembered at his funeral mass on Monday as a father, a friend and an investment banker possessed
      NYT  -  982 words
    • Article
      Lock icon Credit Suisse dismisses Argentina bond alarm over next president
      537 25 BLOOMBERG New York FOR bond traders trying to decide who will succeed Cristina Fernandez de Kirchner as Argentina’s next president, Credit Suisse Group AG has a simple answer: It really doesn’t matter. Argentina’s bonds tumbled to a seven-month low after Buenos
      BLOOMBERG  -  537 words
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      134 26 TOP TRADERS DIDN’T MISS CHINA A50’s MOVE UP 132%*, DID YOU? IG offers a wide range of products to complement your trading sentiment exposure to China 300, China A50, China H-shares, Hong Kong HS50, USD/CNH and more. Take the next step in trading at IG.com.sg or call us at +65
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