The Business Times, 1 July 2015

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Microfilm: NL33559
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Lock icon Masthead
    32 1 THE BUSINESS TIMES 2015 SOCIETY OF NEWS DESIGN EXCELLENCE AWARD■BEST IN OVERALL REDESIGN■ S$1.00 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 Wednesday, July 1, 2015G
    32 words
  • DAILY DIGEST
    • Article
      Lock icon Bank lending in May slips
      23 1 for the first time since October 2009 though this contraction may not last for long. TOP STORIES 4
      23 words
    • Article
      Lock icon A 15-member committee, established
      30 1 for a Founders’ Memorial, meets for the first time to create and conceptualise its plan for a memorial dedicated to Singapore’s founding generation. TOP STORIES 6
      30 words
    • Article
      Lock icon The Singapore stock market loses
      31 1 more of its value in June than in any month over the past two years as Greece casts a shadow across the board. COMPANIES MARKETS 9
      31 words
    • Article
      Lock icon A number of conditions are unveiled
      31 1 for the development of a second commercial site in Woodlands Square, which is on the Reserve List of the government land sales programme. REAL ESTATE/13
      31 words
    • Article, Illustration
      Lock icon United Overseas Bank Group is ramping
      22 1 up its activities in Myanmar as companies invest in the country’s economic transformation. BANKING FINANCE 16
      22 words
    • Article
      Lock icon Crude oil’s plunge
      27 1 is leaving drilling rigs idle from Africa to Latin America as the world’s biggest energy companies curtail spending and stall projects. ENERGY COMMODITIES 17
      27 words
    • Article
      Lock icon China banks, encouraged
      30 1 by Premier Li Keqiang’s “going-out” strategy, are rocketing up the international bond arranging league tables in Asia, leaving investment banking stalwarts in their wake. GOVERNMENT ECONOMY 20
      30 words
    • Article
      Lock icon The fallout in the US
      34 1 from a Greek exit from the eurozone, is expected to be modest and not enough to throw the Federal Reserve’s likely September rate hike off course. GOVERNMENT ECONOMY 21
      34 words
  • Article
    Lock icon MARKETS
    27 1 Tuesday Change STI 3,317.33 +37.15 KL COMP 1,706.64 +14.72 NIKKEI 225 20,235.73 +125.78 HANG SENG 26,250.03 +283.05 SHENZHEN B 1,462.21 +55.68 Dow (10.45am EDT) 17,647.50 +51.15
    27 words
  • Article
    Lock icon SGX woos Israeli startups for IPOs
    942 1  -  Singapore bourse a potential hotbed for such listings as some Israeli medical and telecom startups explore Catalist presence By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore THE Singapore Exchange (SGX) could turn into a hotbed for bite-sized Israeli tech startups hungry for capital and better visibility
    942 words
  • Article, Illustration
    Lock icon PM Lee makes fresh plug on raising productivity
    1010 1  -  It’ll be a hard slog, given the poor progress made so far, but Singapore has no other option, he says By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore IF Singapore is to achieve the higher end of its economic growth forecast of 2 to
    PHOTO: ALPHONSUS CHERN/THE STRAITS TIMES  -  1,010 words
  • Page 1 Advertisements
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  • TOP STORIES
    • Article, Illustration
      Lock icon MAS to cut distinction between int’l, domestic banking ops
      640 2  -  Tharman says the domestic banking unit-Asian currency unit divide has been losing its relevance over the years By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THE Monetary Authority of Singapore (MAS) plans to remove a longstanding division between two accounting units for assets
      FILE PHOTO  -  640 words
    • Article, Illustration
      Lock icon Athens requests 2-year rescue deal with EU to cover financing needs
      950 2 AFP Athens GREECE on Tuesday requested a two-year rescue deal with the European Union (EU) to save the crisis-hit country, just hours before its international bailout expires. “The Greek government today proposed a two-year agreement with the European Stability
      AFP; PHOTO: BLOOMBERG  -  950 words
    • Article
      Lock icon S’pore unlikely to go Scandinavian way to up fertility rate
      700 2  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore WHEN it comes to rolling out generous goodies to try and boost the fertility rate here, Singapore is unlikely to go the way of the Scandinavian countries that have spent heavily over the years
      700 words
    • Article
      Lock icon SIA, CAG and STB in joint drive to boost inbound tourism
      388 2  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore SINGAPORE Airlines (SIA), Changi Airport Group (CAG) and Singapore Tourism Board (STB) are ramping up efforts to boost inbound travel to Singapore and Changi Airport in a tie-up aimed at reaching out to
      388 words
    • Article
      Lock icon Singapore bank lending slips in May for first time since 2009
      477 4  -  But contraction not expected to last; Month on month, May lending reverses 5 months of slide to rise 0.5% By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore BANK lending in May slipped over the year for the first time since October
      477 words
    • Article, Illustration
      Lock icon Rolls-Royce to get S$60m Leng Kee showroom
      547 4  -  By Samuel Ee samuelee@sph.com.sg Singapore THE ultra-luxury segment may have hit speed bumps here in the last two years but that is not stopping the Eurokars Group from investing S$60 million to build a new Rolls-Royce showroom in the prime Leng Kee motor
      PHOTO: SHAWN TEO  -  547 words
    • Article
      Lock icon Airbus sued by 10 families of AirAsia Indonesia crash victims
      331 4  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore PLANEMAKER Airbus is being sued by 10 families of passengers who were on board the fatal AirAsia Indonesia flight QZ 8501 when it crashed into the Java Sea last December. The single-aisle A320 aircraft
      331 words
    • Article, Illustration
      Lock icon Founders’ Memorial committee meets to work out action plan
      731 6  -  Website to be launched soon to let the public contribute views on memorial dedicated to founding generation By Elizabeth Mak eamak@sph.com.sg Singapore A 15-member committee, established for a Founders’ Memorial, met for the first time on Tuesday to create and conceptualise
      PHOTO: YEN MENG JIIN  -  731 words
    • Article, Illustration
      Lock icon Electricity tariffs to go up 7.5% in Q3
      305 6  -  By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore ELECTRICITY tariffs in the third quarter will be 1.5 Singapore cents, or 7.5 per cent, higher per kilowatt-hour (kWh) than in the previous quarter, taking the total cost of electricity to 22.41 cents per kWh,
      Source: SP Services  -  305 words
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  • Page 4 Advertisements
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      Lock icon Page 4 Advertisements Column 1
      257 4 ARTISANAL CUISINE, A WAY OF LIFE Celebrating and respecting seasonality, terroir and the world's best produce. Indulge in the finest French signatures by our new Chef de Cuisine Kirk Westaway, winner of the S.Pellegrino Young Chef 201 5 Southeast Asia competition. Ranked II th Asia's 50 Best Restaurants 2015, sponsored
      257 words
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      236 5 sembcorp marine TODAY, SEMBCORP MARINE MOVES FORWARD AS ONE. Sembcorp Marine has evolved into an integrated brand offering one-stop solutions for the marine and offshore industry. Our business units are now One Team, focusing on four key capabilities: Rigs Floaters, Repairs Upgrades, Offshore Platforms and Specialised Shipbuilding. As One Sembcorp
      236 words
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  • Page 6 Advertisements
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      Lock icon Page 6 Advertisements Column 1
      130 6 The CBD has changed, but the buzz stays the same. W ‘V. I ’ll) i '4 m z n s- g I l a a ft 1 «ia»* i i. -..i Si Tirrfr c- la ”77“ "•a *****777 .7riii«iii777*7 1—«— 1 W_ PW® i W -l i ’II mmwrlm v
      130 words
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  • COMPANIES & MARKETS
    • Article
      Lock icon SMEs urged to adopt strong financial management
      589 8  -  Benefits get highlighted by Spring Singapore deputy chairman at seminar jointly organised by SGX By Nikita Mathur mathurn@sph.com.sg SGX Singapore SMALL and medium-sized enterprises (SMEs) should be resilient against unexpected market shocks and look towards sustainable growth in order to survive, and advanced
      SGX  -  589 words
    • Article
      Lock icon Restaurant booking startup Chope raises US$8m
      420 8  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore HOMEGROWN restaurant booking platform Chope on Tuesday said it has picked up US$8 million in Series C funding, its third round of financing led this time by Singapore-based investment firm F&H Fund Management, as well as NSI Ventures,
      420 words
    • Article
      Lock icon June market cap falls 2.9%
      647 9  -  worst month-on-month performance in 18 months amid Greece woes, but market value is still up 0.9% year to date By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore THE Singapore stock market lost more of its value in June than in any of the past 18 months as
      647 words
    • CORPORATE DIGEST
      • Article
        Lock icon IREIT Global Group
        121 9 IREIT Global Group, manager of IREIT Global, has entered into a sale and purchase agreement with HFS Immobilienfonds Deutschland 6 GmbH Co KG to acquire a property in Berlin for 144.2 million euros (S$217.2 million). The property comprises two fully connected building sections of eight storeys and
        121 words
      • Article
        Lock icon Keppel Infrastructure Trust
        64 9 KEPPEL Infrastructure Trust, previously known as CitySpring Infrastructure Trust, has completed its acquisition of a 51 per cent stake in Keppel Merlimau Cogen Pte Ltd (KMC) from Keppel Energy which is a wholly owned subsidiary of Keppel Infrastructure Holdings for S$510 million. KMC owns Keppel Merlimau Cogen
        64 words
      • Article
        Lock icon Keppel Corp
        45 9 KEPPEL Corporation said it has appointed veronica Eng as independent director with effect from July 1. Ms Eng is a founding partner of Permira, an international private equity firm and an adviser to funds with committed capital of 25 billion euros (S$37.7 billion).
        45 words
      • Article
        Lock icon Sembcorp Development
        122 9 SEMBCORP Development, a wholly owned subsidiary of Sembcorp Industries, said that its joint venture, Vietnam Singapore Industrial Park Joint Venture Co (VSIP JV), has obtained exclusive rights from Nghe An Province to develop a 750-hectare integrated township and industrial park. VSIP JV has also received the investment licence
        122 words
      • Article
        Lock icon SingHaiyi Group
        110 9 SGX-LISTED SingHaiyi Group will invest up to S$134.4 million for a 35 per cent stake in a joint venture entity to acquire and redevelop Park Mall. SingHaiyi’s wholly owned subsidiary, Phoenix 99 (SHG SPV), has entered into a joint venture agreement together with Gordon Tang and Chen Huaidan
        110 words
      • Article
        Lock icon China Sky Chemical Fibre
        76 9 CHINA Sky Chemical Fibre Co posted a net profit of 72.8 million renminbi (S$15.8 million) for FY2014, swinging into the black compared to a loss of 68.05 million renminbi a year earlier. Revenue for the year was up nearly 5 per cent to 2.08 billion renminbi
        76 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 10 STI Catalist Straits Times Index June 30,2015 3,317.33 +37.15 (+1.13%) Current streak 1 day Day high 3,326.24 Day low 3,281.30 52-week high 3,539.95 (Apr 15, 2015) 52-week low 3,154.21 (Oct 16, 2014) FTSE ST Catalist Index June 30,2015 657.79 -0.66 (-0.10%) Current streak 4 days Day high 662.73 Day low
      63 words
    • Article, Illustration
      Lock icon China bounce, short-covering lift STI
      631 10  -  Index recovers almost all the 41 points surrendered on Monday despite the prospect of “Grexit” STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT EITHER China’s reversal played a big part in triggering Tuesday’s rebound or investors were betting that Greece exiting the eurozone will be no big
      Source: Bloomberg  -  631 words
    • Article
      Lock icon STI STOCKS
      308 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 246 +6 246/239 271 219 5.9 6224.8 CapitaLand 350 +10 352/344 379 293 12.8 2.6 *****.5 CapitaMall Trust 215 +4 215/209 228 188.5 5 7459.9 CityDev 978 +5 981/972 1095 915 11.8
      308 words
    • Article
      Lock icon MOST ACTIVE
      34 10 VOLUME WE W*****5 196,508,000 Noble 55,806,800 IHC 43,300,200 SIIC Environment 41,898,200 Albedo 38,845,100 Market volume 1,682,002,000 VALUE Singtel 150,819,291 DBS Grp 109,862,627 CapitaLand 65,322,067 UOB 63,879,608 OCBC Bank 47,547,108 Market value 1,285,814,000
      34 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 10 Jun 30 VALUE CLOSE BT OB/OS -128.00 +164.00 BT CADI -*****.00 +72.00 BT 10-day MA -*****.00 -13.00 FTSE ST Mid Cap 761.69 +4.98 FTSE ST Small Cap 474.62 +0.98 FTSE ST All Share 796.57 +7.89 FTSE ST China Top 203.44 +1.04 FTSE ST China 241.50 +1.32 FTSE
      77 words
    • Article
      Lock icon SGX ETFs
      110 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap UETF SSE50China 285 +12 279 286/269 340/142 284/285 89.1 IS MS INDIA US$ US750 +13 218 750/728 1000/696 743/750 93.8 Lyxor HSI US$ US335 cd +9 132 335/331 361/281 329/337 29.1 STI ETF 335 +2 129
      110 words
    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 10 STI FTSE ST All-Share ftse ST All-Share index June 30,2015 796.57 +7.89 (+1.00%) Current streak 1 day Day high 798.20 Day low 788.92 52-week high 847.98 (Apr 15, 2015) 52-week low 762.71 (Oct 16, 2014)
      35 words
    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 10 STI MSCI EAFE MSCI EAFE index June 29,2015 1,855.33 -43.49 (-2.29%) Current streak 5 days Day high 1,890.02 Day low 1,839.86 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
      33 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 6 2 0 0 0 5 6 2 Manufacturing 52 31 34 12 6 12 64 37 46 Commerce 20 19 18 5 2 5 25 21 23 Tpt/Stor/Comms 14 7 12
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 14,255 14,255 67,209 67,209 Manufacturing 113,789 36,476 150,265 82,239 2,160 84,399 Commerce 130,817 76,280 207,097 103,883 2,885 106,767 Tpt/Stor/Comms 137,856 770 138,626 288,223 63 288,286 Finance 22,371 135 22,506 258,593 25 258,618 Construction 20,912 5,742
      123 words
    • Article
      Lock icon GAINERS
      72 10 BY CENTS CLOSE UP 52w high/low JMH USD 5675 194.9 2.6 6788/5410 DBXT Vietnam US$ 2610 162.6 4.9 3100/2250 DBXT China50 US$ 3754 129.0 2.6 4258/2800 DBXT CSI300 US$ 1226 100.8 6.5 1471/640 Lyxor ChinaH US$ 1803 76.6 3.3 2055/1280 BY PERCENTAGE CLOSE UP 52w high/low CN*****MBeCW*****0 1.9 137.5
      72 words
    • Article
      Lock icon LOSERS
      75 10 BY CENTS CLOSE DOWN 52w high/low SPDR DJIA US$ ***** -521.5 -2.2 *****/***** SPDR S&P500 US$ ***** -510.8 -1.8 *****/***** DBXT E50 US$ 4936 -178.8 -2.6 5564/4562 Lyxor Nasdaq US$ 1754 -72.6 -3.0 1816/1495 DBXT S&P500 US$ 3503 -71.2 -1.5 3626/3097 BY PERCENTAGE CLOSE DOWN 52w high/low China Essence
      75 words
    • Article
      Lock icon UNUSUAL ACTIVITY
      81 10 VOL CLOSE($) CHANGE TMC Education 99.7 0.092 +0.010 +12.20 Cacola 1,655.7 0.013 +0.002 +18.18 Azeus 62.0 0.110 +0.015 +15.79 Pacific Hc 128.0 0.006 -0.004 -40.00 China Essence 15.2 0.002 -0.004 -66.67 Mewah Intl 20,020.0 0.335 +0.005 +1.52 Asiatic 11,532.0 0.027 +0.002 +8.00 China Intl 107.0 0.020 -0.010 -33.33
      81 words
    • BROKERS’ TAKE
      • Article
        Lock icon ComfortDelGro
        199 10 Hold S$3.13 June 30 close: S$3.13 Target price: S$3.00 DBS Group Research, June 30 IN a media release from Transport for London (TFL), Metroline Rail Ltd, a wholly-owned subsidiary of ComfortDelGro (CD), has been shortlisted as one of four potential operators for London Overground. The other shortlisted bidders are
        199 words
      • Article
        Lock icon Ho Bee
        262 10  -  Compiled by Jacquelyn Cheok Buy close: June 30 close: S$2.11 Target price: S$2.60 RHB, June 30 HO Bee has entered into a contract for the sale of Forte, its industrial building at 29 New Industrial Road, to Laura Ashley for a consideration of S$66 million. This works out
        262 words
    • Article
      Lock icon CALENDAR
      30 10 DATA I (July 1) Singapore private residential property price index flash estimate I 8 pm (July 1) US MBA mortgage applications I 9.45am (July 1) HSBC China manufacturing PMI
      30 words
    • Article
      Lock icon Euro slips back as Greek default looms
      387 11 CURRENCIES AFP Tokyo THE euro eased in Asian trade on Tuesday, hours before a debt repayment deadline that Greece was expected to miss, putting it in default and fanning fears it will crash out of the eurozone. The single currency bought US$1.1190 in
      AFP  -  387 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 11 Jun 30 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.952 4.762 0.688 5.952 48.959 102.299 0.939 8.569 2.897 1.128 78.115 34.610 1.032 9.392 0.715 23.697 25.919 0.488 0.768 Canada 1.050 5.000
        471 words
      • Article, Illustration
        Lock icon HANG SENG
        2 11
        2 words
      • Article, Illustration
        Lock icon NIKKEI
        1 11
        1 words
      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 11
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      • Article, Illustration
        Lock icon DOW JONES
        2 11
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 11 Jun 30 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0317 1.0328 0.7676 0.7679 Canadian dollar 1.0834 1.0845 0.8063 0.8061 Euro 1.5006 1.5021 1.1164 1.1168 NZ dollar 0.9144 0.9155 0.6803 0.6807 Sterling pound 2.1123 2.1141 1.5715 1.5718
        155 words
      • Article
        Lock icon US$/S$ FORWARD RATES
        21 11 Jun30 S$ Bid Offer 1-month 1.3448 1.3457 2-months 1.3452 1.3463 3-months 1.3457 1.3468 6-months 1.3472 1.3484 Source: OCBC
        21 words
    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        197 11 Jun 30 Most active Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left WE Holdings Ltd W*****5 0.1 -0.*****08 1 0 2 FTSEChinaA50 ***** MBeCW*****9 12.9 5.6 ***** 0.0 --3 KepCorp MB eCW*****2 6.1 -0.1 5619 0.2 915 5 DBS
        197 words
      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 11 In local curr In S$ In US$ dy yr dy yr dy yr Jun 29 Index Change Change Change Change Change Change World Preliminary 1322.0 -1.8 3.6 -1.7 4.0 -1.7 2.2 EAFE Preliminary 1063.6 -2.6 7.8 -2.3 6.4 -2.3 4.5 Europe Preliminary 1472.9 -2.8 6.6
        373 words
      • Article
        Lock icon SGX DERIVATIVES TRADING
        407 11 Jun 30 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.75 *****.29 *****.70 Jul15 *****.00 *****.00 *****.00 *****.00 *****68 *****3 Aug15 *****.00 *****.50 *****.00 *****.50 107 125 NIKKEI 225 INDEX FUTURES SPOT *****.61 *****.18 *****.26 Sep15 *****.00 *****.00 *****.00 *****.00 *****2 *****6 Dec15
        407 words
    • BANK RATES
      • Article
        Lock icon SIBOR
        36 11 Jun 30 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
        36 words
      • Article
        Lock icon INTERBANK RATES
        154 11 Jun 30 $S Offer Bid 0vernight 1.00 0.70 1-month 0.6875 0.5625 2-months 0.75 0.625 3-months 0.8125 0.6875 Overnight mode: 1.80 US$ 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
        154 words
      • Article
        Lock icon GOVERNMENT SECURITIES
        71 11 Jun 30 Jun 30 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.54 102.64 102.59 5-Year N*****0S 2.000 01-Jul-20 99.99 100.05 99.95 10-Year NX*****Z 2.375 01-Jun-25 97.25 97.31 97.15 15-Year NY*****E 2.875 01-Jul-29 99.35 99.40 99.40 20-Year NZ*****V 3.375
        71 words
    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        223 11 Jun-29 H* UtNV Stiu<tw iai final Agricultural cm i is to cww P-W. 9C&*. Jle»29 <:«)i v>yi«in(JII ua (jnwli) -UUl tVIY •JaT* 1i.W»Ol*3 Giol ynhoai c ca-nuliii) tJtf. J r UFff ODauilitanii) jV^QD mno3> JUriW O''-.' Iura (Watifst/taKiifti ■ww JIW -l/rfw ISW.TiTj III I'l W/T11I1 1 (llWIimi-'i i
        223 words
    • Article
      Lock icon Novo’s Q4 loss widens to US$11.3 million
      474 12  -  Group cuts selling prices to below costs to clear out inventories, keep market share By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore CHINESE steel company Novo Group’s net loss for the fourth quarter ended April 2015 widened to US$11.32 million from US$6.52 million for
      474 words
    • Article
      Lock icon Design Studio Group names new CEO
      286 12  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore THE chief executive of premier furniture manufacturer Design Studio Group, Bernard Lim Leng Foo, has stepped down, with Ku Wei Siong to take over the role from Sept 1. Mr Ku was previously senior vice-president at CapitaLand GCC
      286 words
    • Article
      Lock icon Artivision clinches several Israeli deals
      674 12  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore SINGAPORE-LISTED Artivision Technologies has clinched a string of deals from Israeli entities, one of which involves managing programmatic video campaigns for Lapam, Israel’s government advertising agency. “Artimedia will provide full campaign management services, through its automated video buying platform,
      674 words
  • Page 8 Advertisements
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      Lock icon Page 8 Advertisements Column 1
      154 8 <! E BUSINESS TIMES Enter your most exceptional wines for the third edition of The Business Times Wine Challenge 2015 CEOs' Choice awards, in partnership with UBS. We are looking for 10 of the year's top labels, which will be picked by a panel of judges comprising CEOs and technical
      154 words
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  • Page 9 Advertisements
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      Lock icon Page 9 Advertisements Column 1
      25 9 Lifestyle An independent voice BTLifestyle offers a candid view of the food, arts, travel, design and entertainment scene in Singapore and beyond. businesstimes.com.sg/lifestyle btlifestyle thebusinesstimes
      25 words
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      Lock icon Page 9 Advertisements Column 2
      126 9 The one-day conference will be a pure learning journey where only investment ideas, content, strategies and discussion matter. We promise. At this conference, there will be no sales talks, previews or hard-selling. We want our participants to be UNPLUGGED from all the marketing spiel. What You Will Learn Seminar Details
      126 words
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  • Page 12 Advertisements
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      176 12 Z3 Z2 Z1 INTRODUCE YOURSELF &KNOW YOURSELF DO IT YOURSELF Resume Clinic/ Consultation Metaphysics Geomancy Update Upload Resumes Psychometric Test Z5 Z4 IMPROVE YOURSELF PRESENT A YOURSELF Seminars Career Coaching Makeover Photoshoot TIME 10am 7pm DAY 1 U JULY VENUE DAY 2 Marina Bay Sands, Halls D E 5 JULY
      176 words
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Conditions for 2nd Woodlands Square commercial site unveiled
      904 13  -  Separately, 2 industrial sites in Ubi and Tampines are released for sale; 1 in Tuas open for application By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore A NUMBER of conditions were unveiled on Tuesday for the development of a second commercial site in Woodlands
      Source: URA BT Graphics  -  904 words
    • Article
      Lock icon More large apartments put up for mortgagee sale in H1
      584 13  -  By Ong Hui Qun ohuiqun@sph.com.sg Singapore THERE was a spike in the number of large apartments defined as residential units above 1,500 sq ft being put up for mortgagee sale at auctions in the first six months of this year,
      584 words
    • Article
      Lock icon Tender deadline pushed back for Choa Chu Kang EC plot
      294 13  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore THE tender deadline for the executive condominium (EC) plot at Choa Chu Kang Avenue 5 has been pushed back due to a new condition imposed by the Housing and Development Board. In an amendment
      294 words
    • Article
      Lock icon Manila developers expanding into industrial estates
      607 13 BLOOMBERG Manila PHILIPPINE developers are expanding into industrial estates as government moves to make the nation a car manufacturing hub spark interest from Japanese carmakers. Said Rick Santos, chairman of CBRE Group in Manila: “We haven’t seen this kind of interest from Japanese companies
      BLOOMBERG  -  607 words
    • Article
      Lock icon International buyers snap up German stores
      371 13 BLOOMBERG Berlin GERMAN malls and stores are being snapped up by international buyers at the fastest pace since 2007 even as online shopping lures customers away from the country’s bricks-and-mortar shops. Almost six billion euros (S$9 billion) of retail properties were bought by foreign
      BLOOMBERG  -  371 words
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      406 13 THE BUSINESS TIMES NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF FCA FURNITURE COMPETENCE ASIA PTE.LTD. (In Members’ Voluntary Liquidation) Reg No. *****0435N NOTICE OF RESOLUTIONS Van Extraordinary General Meeting oftheabovenamed Company duly convened and held at 8 Wilkie Road *03-01 Wilkie Edge
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      58 13 4**e#L Lianhe Zaobao Business Seminar^y to boost fttonpoiMer j'P* 4 July 2015 (Saturday) 2pm to 5pm This seminar is conducted in Chinese Lifelong Learning lnstitute@WDA, Lecture Theatre, Level 2 (3-min walk from Paya Lebar MRT) 11 Eunos Road 8, Singapore *****1 Registration fee: $10 nett (including refreshments and goodie bag)
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      1932 14 A special feature produced by Synergy Media Specialists Celebrating the 50 th Anniversary of Singapore Canada relation; SG 50 0 synergymediaspecialists [J Synergy Media Specialists synergymediat 1 synergymediaspecialists.com Trans-Pacific Partners: Strengthening Canada Singapore Ties i The Honourable Teresa Wat, British Columbia Minister of International Trade and Minister Responsible tor Asia
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  • CANADA DAY
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      Lock icon A STAUNCH ALLY FROM THE START
      1597 15  -  SG50 also marks the 50th jubilee of Canadian-Singapore diplomatic ties which have grown closer over the years. BY VINCENT WEE THE depth of bilateral ties between Singapore and Canada can be seen in the fact that they mark their 50th anniversary this year, since
      PHOTOS: HIGH COMMISSION OF CANADA  -  1,597 words
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  • BANKING & FINANCE
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      Lock icon UOB helping clients invest in Myanmar
      855 16  -  Country seen to attract US$163b in foreign direct investment over the next 15 years from companies keen to participate in its economic transformation and liberalisation By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore UNITED Overseas Bank Group (UOB) is ramping up its activities in Myanmar
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    • Article
      Lock icon Global equity market deals top US$500b
      657 16 But bankers’ fees fall as secondary share sales dominate activity REUTERS London MONEY raised in global equity capital markets (ECM) rose in the first half of the year to top US$500 billion, but bankers’ fees fell as secondary share sales supplanted lucrative stockmarket listings
      REUTERS  -  657 words
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      Lock icon New Deutsche Bank chief under pressure to reverse fortunes fast
      606 16 REUTERS Frankfurt JOHN Cryan will have to hit the ground running at Deutsche Bank when he officially starts as chief executive on Wednesday. Investors want to see the former investment banker tackle a long list of problems that has pushed
      REUTERS  -  606 words
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  • ENERGY & COMMODITIES
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      Lock icon Oil rout puts smaller drillers at advantage as big players cut back
      869 17 Smaller explorers are quick to use the opportunity of declining costs and increasing availability of rigs to gain ground BLOOMBERG London CRUDE oil’s plunge is leaving drilling rigs idle from Africa to Latin America as the world’s biggest
      BLOOMBERG; PHOTO: REUTERS  -  869 words
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      Lock icon Petrobras to slash spending, restore confidence
      1046 17 REUTERS Rio de Janeiro BRAZIL’S state-run oil company Petrobras has cut its long-term spending plan to the lowest level in eight years as new management moved to reduce the industry’s largest debt burden and restore confidence after a devastating corruption scandal. Petroleo Brasileiro SA,
      REUTERS; PHOTO: REUTERS  -  1,046 words
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      995 17 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.cats.com.sg/notices Company Registration No. *****0476M TENDER NOTICE SPH Magazines Pte Ltd (“SPH Magazines”) invites tenders for the provision of event management services for the Men’s Health Urbanathlon 2016 (“Event”) for a period of 9 months with effect from August 2015. The Event
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  • TECHNOLOGY
    • Article
      Lock icon Study suggests Google skews search results
      629 18 NYT New York GOOGLE entices people to search by promising links to the best that the Web has to offer. But research, led by top academics but paid for by one of Google’s rivals, suggests that Google sometimes alters results to play up its
      NYT  -  629 words
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      Lock icon US Supreme Court lets Oracle sue Google over use of Java code
      548 18 BLOOMBERG Washington THE US Supreme Court let Oracle Corp press accusations that Google Inc developed the Android smartphone operating system by improperly copying Java programming language. The copyright case has split the industry between companies that write interface
      BLOOMBERG; PHOTO: REUTERS  -  548 words
    • Article
      Lock icon Mobile phone makers hit by consumers extending upgrade cycles
      520 18 BLOOMBERG Portland IT is payback time for handset makers that long profited from Americans’ tendency to upgrade their mobile phones early and often. US consumers got a taste for phone financing two years ago and never looked back. They bought fancy
      BLOOMBERG  -  520 words
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      3599 18 SinGAPORE AIRLIHES SINGAPORE AIRLINES LIMITED (Incorporated in the Republic of Singapore) Company Registration No. *****0078R NOTICE OF ANNUAL GENERAL MEETING Notice is hereby given that the Forty-Third Annual General Meeting of Singapore Airlines Limited ("the Company”) will be held at Orchard Grand Ballroom, Level 3, Orchard Hotel Singapore, 442 Orchard
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  • CONSUMER
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      Lock icon NBC to Trump: ‘You’re fired’ over insults to Mexicans
      644 19 Broadcaster will not air the pageants that he owns after his derogatory comments regarding immigrants REUTERS New York NBC cut ties with US presidential candidate Donald Trump and the Miss USA and Miss Universe pageants after the real estate developer and
      REUTERS; PHOTO: REUTERS  -  644 words
    • Article
      Lock icon Wealthy people still prefer shopping the old-fashioned way
      450 19 BLOOMBERG New York EVEN as shoppers flock to the Internet to get the skinny on everything they want to buy, many wealthy patrons still prefer the traditional method. They want to go to shops, peruse the racks, and have a salesperson help
      BLOOMBERG  -  450 words
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      3341 19 BIOSENSORS INTERNATIONAL"' BIOSENSORS INTERNATIONAL GROUP, LTD. (Incorporated in Bermuda as an exempted company limited by shares) (Company Registration No: *****) NOTICE OF 2015 ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 2015 Annual General Meeting (“AGM”) of Biosensors International Group, Ltd. (the “Company") will be held at Meeting Room
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  • GOVERNMENT & ECONOMY
    • Article
      Lock icon China banks take on more bond arrangement
      954 20 They are rocketing up the international bond arranging league tables in Asia, leaving investment banking stalwarts in their wake BLOOMBERG Hong Kong CHINESE banks, encouraged by Premier Li Keqiang’s “going-out” strategy, are rocketing up the international bond arranging league tables in Asia, leaving
      BLOOMBERG  -  954 words
    • Article
      Lock icon US Ex-Im Bank unable to approve loans as charter lapses
      561 20 Lapse may be temporary as Congress may consider re-authorising the institution next month BLOOMBERG Washington US exporters including Boeing Co and General Electric Co won’t be able to obtain new financing for overseas deals from the US Export-Import Bank (Ex-Im)
      BLOOMBERG  -  561 words
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      Lock icon Inflation in eurozone softens in June on dip in energy
      385 20 Brussels EUROZONE inflation softened in June, moving away from the European Central Bank’s target as energy costs weakened and the price rises of food and services eased after a spike in May. The European Union’s statistics office Eurostat said on
      PHOTO: REUTERS  -  385 words
    • Article
      Lock icon Monetary stance likely to stay easy for a while: RBA chief
      339 20 BLOOMBERG Sydney AUSTRALIAN central bank governor Glenn Stevens said “very accommodative” global monetary policy is likely to remain in place for quite a while, and his counterparts will be forced to rely on regulatory measures to contain potential financial
      BLOOMBERG  -  339 words
    • Article
      Lock icon IMF may take back seat in Greek talks with missed payment
      695 20 BLOOMBERG Washington THE International Monetary Fund (IMF) was always a secondary player in the group of creditors bailing out Greece. It’s about to be pushed into an even less prominent role. The institution was invited by Greece and European
      BLOOMBERG  -  695 words
    • Article
      Lock icon Grexit fallout not enough to throw US rate hike off course
      683 21 Gyrations in markets are not dramatic enough to waylay Fed, say analysts REUTERS Washington THE fuse may be lit for a Greek exit from the eurozone, but the fallout in the US Is expected to be modest and not
      REUTERS  -  683 words
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  • TRANSPORT
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      Lock icon Career at sea a good move?
      1040 22  -  It offers the opportunity to experience a world of real adventure and to interact with people from all over the world, but reality is rather more gritty STRAIT TALK BY DAVID HUGHES THIS year the International Maritime Organization (IMO) used the annual Day of
      1,040 words
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      Lock icon JetBlue poised to add luggage charge in fare revamp
      515 22 BLOOMBERG Dallas SAY goodbye to a free checked bag on JetBlue flights if you buy the cheapest ticket. JetBlue Airways Corp is set to introduce a new fare scale, and missing will be its signature complimentary luggage policy. The change will
      BLOOMBERG; PHOTO: REUTERS  -  515 words
    • Article
      Lock icon Farm waste, animal fats to help power a United Airlines jet
      1092 22 Company investing US$30m in one of the largest producers of aviation biofuels, Fulcrum BioEnergy NYT New York SOMETIME this summer, a United Airlines flight will take off from Los Angeles International Airport bound for San Francisco using fuel generated
      NYT  -  1,092 words
    • Article
      Lock icon Greeks’ role in shipping seen unscathed regardless of fate in EU
      346 22 BLOOMBERG London GREEK shipowners’ dominant role in world trade faces little threat from the financial turmoil that’s roiling the Mediterranean country, according to analysts who monitor the nation’s maritime industry. The Greek government shut banks and imposed capital controls
      BLOOMBERG  -  346 words
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    1783 23 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 MALAYSIA STAR 47 50 10/7 11/7 16/7 18/7 19/7 CALMY CORAL 90 60
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      106 23 Experienced ship maintenance services wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 THE BUSINESS TIMES SHIPPING TIMES Make A Splash In The Maritime World Via s|£iJhiaritime.coM Ahoy there! If you are in a business pertaining to any sector of
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  • OPINION
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      Lock icon Greece referendum may well be a political gamble to buy more time
      599 24 GREEK Prime Minister Alexis Tsipras’s decision to call for a national referendum on July 5 may not have been an impulsive move. EDITORIAL Rather, it could have been a calculated political gamble to buy more time. The referendum
      599 words
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      Lock icon Greece will hurt, but it won’t be Lehman II
      710 24  -  A cheaper euro would in turn hurt US exporters. In addition to lower global stock prices, there could also be higher interest rates. Still, most of the pain will be felt by the 11 million Greeks. THE BOTTOM LINE By Robert
      THE WASHINGTON POST WRITERS GROUP  -  710 words
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      Lock icon Keeping Greece in an unhappy club
      805 24  -  Whatever happens, there will be contagion. If the creditors make concessions and the Greeks vote to stay in, other debtors will want similar treatment. BY DAVID MARSH treatment.BY DAVID MARSH T The writer is managing director and founder of the Official Monetary and Financial
      OMFIF; PHOTO: AFP  -  805 words
    • Article
      Lock icon Why Singapore should push for China’s stake in TPP
      1096 25  -  COMMENTARY By Marcus Loh T The writer is an associate director of a global public relations firm, and an adviser at the UOB-SMU Asian Enterprise institute AS a founding member of the Transpacific Partnership (TPP), and a pricetaker in world affairs,
      1,096 words
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      Lock icon Grexit will be the staggering cost of a non-independent central bank
      1498 25  -  The ECB has become deeply politicised. No other central bank in the world tells its government what reforms it should conduct, nor how sharp fiscal consolidating should be. BY CHARLES WYPLOSZ BY CHARLES WYPLOSZ T The writer is professor
      PHOTO: REUTERS  -  1,498 words
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  • LIFE & CULTURE
  • Page 26 Advertisements
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      29 26 2Owncars? If you're looking for a landed home with a large enough driveway, turn to the Print Classified Properties section. To advertise, call the Print Classified Hotline: 1800-289 9988.
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  • Page 26 Miscellaneous
    • Miscellaneous
      Lock icon Page 26 Miscellaneous Column 1
      373 26 CRYPTIC CROSSWORD Across 1 Male champion has to stand before monarch as ceremonial officer (4-6) 6 Image I would love new one in car? (4) 10 Line at start of famous poem about returning prisoner (5) 11 Superior school form (4-5) 12 ‘Cheap’ accommodation almost exorbitant? Then show anger (8)
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      581 27 Learn How To Be An Aspiring Leader, Not Just A Manager Who should attend: Managers, Senior Managers, General Managers, Assistant Directors and Directors FULL-DAY WORKSHOPS The Art and Science Of The Business Narrative Multi Generation Workforce Leadership Challenges And Opportunities The current workplace environment now houses up to four generations.
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  • EXECUTIVE MONEY
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      Lock icon SEC scrutinises expenses passed to investors
      1022 28 KKR found to have breached fiduciary duty when it passed along US$17m in ‘broken deal’ expenses to investors; it will pay US$30m in settlement NYT New York FOR years, private equity firms operated behind a curtain of mystery when it came to how they
      NYT  -  1,022 words
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      Lock icon Trillions spent but financial crises like Greece’s still plague the world
      1049 28 NYT New York THERE are some problems that not even US$10 trillion can solve. That gargantuan sum of money is what central banks around the world have spent in recent years as they have tried to stimulate their economies
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    • Article
      Lock icon Mutual funds buy more Singapore stocks
      470 27 ON THE RADAR GLOBAL mutual funds bought more Singapore shares than they sold in the three months to June 24. In the period, there were net buys of S$ 1.3 billion based on the top five stocks, and net sells of S$896.2 million. This
      470 words
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      Lock icon Currency traders want clarity as bloopers stoke volatility
      798 27 World leaders’ remarks have sent currency markets into a tailspin BLOOMBERG New York IF there’s one thing currency traders want from politicians and central bankers in the second half of the year it’s more clarity and fewer gaffes on policy direction. The
      BLOOMBERG; PHOTO: REUTERS  -  798 words
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      78 28 ON THE RADAR Mutual funds buy more Singapore stocks 27 TAKING ATOLL Policy bloopers stoke market volatility 27 Master the art of me-time Relax to music and smooth sips of Hennessy Paradis, or a good story and a glass of Dom Perignon. Savour every indulgence in our First Class Private
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