The Business Times, 8 July 2015

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Microfilm: NL33559
Total Pages: 34
1 36 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 8, 2015G
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  • DAILY DIGEST
  • Article
    Lock icon Temasek posts 19.2% TSR as net portfolio value rises to S$266b
    1006 1  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore TEMASEK Holdings has reported a total shareholder return (TSR) of 19.2 per cent for the year ended March 31, 2015, as its net portfolio value rose S$43 billion to S$266 billion, thanks
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  • Article
    Lock icon MARKETS
    27 1 Tuesday Change STI 3,340.93 +7.99 KL COMP 1,712.30 -4.75 NIKKEI 225 20,376.59 +264.47 HANG SENG 24,975.31 -260.97 SHENZHEN B 1,198.03 -64.33 DOW (11:45am EDT) 17,536.70 -146.88
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  • Article, Illustration
    Lock icon Noble bites bullet, undertakes review of accounting practices
    688 1  -  Market watchers welcome the PwC review but they say the proof lies in the pudding By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore AFTER seeing billions wiped off its market value, embattled commodities trader Noble Group has finally called for an external review
    Compiled by BT PHOTO: REUTERS  -  688 words
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      15 1 8 "*****1 *****4 1MDB IMBROGLIO kl special task force freezes bank accounts TOP STORIES 2
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      77 1 MRT BREAKDOWN Two major train lines knocked out for hours transport 29 BULL RUN IN SILICON VALLEY Number of angel investors balloons with wealth creation EXECUTIVE MONEY 36 URBANISATION WILL CHANGE FUTURE PLANS. DO YOU HAVE TOMORROW’S BLUEPRINT? >> Discover our approach at juliusbaer.com/visionary-thinking Julius Baer is the leading Swiss
      77 words
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      13 1 Q-ON-Q SURGE Property investment deals surged to S$5.7b in Q2 REAL ESTATE 12
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  • TOP STORIES
    • Article, Illustration
      Lock icon KL special task force freezes 6 bank accounts linked to 1MDB scandal
      837 2  -  Chorus calling for Najib to step aside during probe grows louder By Pauline Ng btworld@sph.com .sg Kuala Lumpur A SPECIAL multi-agency taskforce investigating Malaysia’s scandal-ridden 1MDB including allegations that nearly US$700 million of its monies were deposited into
      PHOTO: AFP  -  837 words
    • Article, Illustration
      Lock icon Greece to make aid request soon, says Dutch minister
      504 2 BLOOMBERG REUTERS Brussels GREECE will put its economic proposals in writing, in a first step towards restarting aid talks after the country’s voters rejected austerity, Dutch Finance Minister Jeroen Dijsselbloem said on Tuesday. Mr Dijsselbloem said his new Greek counterpart Euclid
      BLOOMBERG; REUTERS  -  504 words
    • Article, Illustration
      Lock icon IMF urges Fed to delay rate hike till H1 of next year
      673 3  -  Rise in US dollar strength can reignite global financial imbalances, it warns By Anthony Rowley btworld@sph.com.sg Tokyo IN an unusually explicit policy suggestion, the International Monetary Fund (IMF) on Tuesday urged the US Federal Reserve to delay raising
      PHOTO: AFP  -  673 words
    • Article
      Lock icon PICTET
      263 3 Pictet-Absl Rtn Fxd Inc-HP EUR 02/07/2015 EUR 102,79 Pictet-Absl Rtn Glo Div-P EUR 02/07/2015 EUR 119,13 Pictet-Asian Equities Ex Japan-P USD 03/07/2015 USD 204,96 Pictet-Asian Local Currency Debt-P USD 03/07/2015 USD 144,59 Pictet-Biotech-P USD 02/07/2015 USD 837,22 Pictet-Clean Energy-P USD 02/07/2015 USD 88,49 Pictet-Digital Communication-P USD 02/07/2015 USD 232,27
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    • Article, Illustration
      Lock icon Temasek increases investments in N America, Europe and China
      801 4  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore TEMASEK Holdings last year continued to invest in the mature markets of North America and Europe while increasing its China exposure. It also made its first foray into London’s real estate. During the financial
      BT Graphic: Siow Li Sen, Airyn Source: Temasek Review  -  801 words
    • Article
      Lock icon IDA sets ball rolling for 4th telco operator
      1026 4  -  It will set aside 60 MHz of spectrum at high and low frequency for the new player so it can set up quickly By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore THE Infocomm Development Authority of Singapore (IDA) paved the way for the
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      73 3 9 Scotts Road, #10-01 >T Tj_| p Pacific Plaza, Singapore www.uhear.com.sg Let’s share the Joy of HEARING Celebrating SG 50 take home a pair of Hearing Aid to try Buy 1 Hearing Aid get second piece at °/< o OFF (valid for one month only) *****898" FREE HEARING TEST Clinics
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      106 3 GP GIRARD-PERREGACIX MECHANICS OF TIME SINCE 1791 I s X UK niRARD-PERREGACIX y L 1 s 5 S r SWISS MADE 4 mt v./ j'ti W- z. :lLz* w li MJlIMai il It VINTAGE 1945 GIRARD-PERREGAUX *****-0062 CALIBRE, SELF-WINDING MECHANICAL MOVEMENT HOUR, MINUTE, SMALL SECOND, LARGE DATE, MOON-PHASES INDICATOR 46-HOUR
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  • COMPANIES & MARKETS
    • Article
      Lock icon Proposed changes to Takeover Code welcome
      567 6  -  They would go towards ensuring the best possible price for buyers and sellers HOCK LOCK SIEW BY R SIVANITHY IN many takeovers that involve privatisations, minority rights are usually trampled on by the actions and intent of the majority. This is sometimes unavoidable since
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    • Article
      Lock icon Triyards, Emas Offshore bag new orders but post muted Q3 results
      689 6  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore THE two Singapore-listed subsidiaries of offshore services group Ezra Holdings have announced new contract wins while posting subdued third-quarter results amid ongoing softness in the energy industry. Triyards, Ezra’s fabrication arm, said on
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    • Article
      Lock icon SPH Reit maintains Q3 DPU as net property income rises
      456 8  -  Distribution per unit of 1.35 Singapore cents for quarter; gross revenue up 1.6% at S$51.2m .By leemx@sph.com.sg Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore SPH Reit on Tuesday reported a distribution per unit (DPU) of 1.35 Singapore cents for its third quarter
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    • Article
      Lock icon SBI Offshore diversifies into solar energy
      467 8  -  By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore HURT by the downturn in the offshore sector, SBI Offshore has jumped onto the solar energy bandwagon. On Tuesday, the company announced that it has entered into a joint venture agreement with Ger-man-based Grass Group, to build
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    • Article
      Lock icon Crowdo to launch crowdlending in Indonesia
      323 8  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore CROWDFUNDING platform Crowdo which until Tuesday had been known as Crowdonomic has announced it would launch a crowdlending (debt crowdfunding) platform for SMEs and startups in Indonesia later this year, that will allow investors to lend directly to
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    • CORPORATE DIGEST
      • Article
        Lock icon Cordlife Group
        47 8 CORDLIFE Group said on Tuesday that it has rejected an unsolicited third party offer for its shares in China Cord Blood Corporation and convertible notes due 2017. Instead, it will proceed with an earlier plan to sell them to Hang Seng-listed healthcare company Golden Meditech.
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      • Article
        Lock icon Digiland International
        43 8 DIGILAND International on Tuesday announced the appointment of Goh Jin Hian as the company’s chief executive officer with effect from July 7 this year. Dr Goh was appointed as an executive director of the mainboard-listed IT company on June 24, 2015.
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      • Article
        Lock icon KSH Holdings
        48 8 CONSTRUCTION firm KSH Holdings said on Tuesday that it has won a S$34.8 million design-and-build tender for the construction of a steel structure, electrical intake station and ancillary works in Singapore. Works are expected to commence this month and targeted to be completed within 16 months.
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    • Article, Illustration
      Lock icon Who’s who on Noble's independent board panel
      739 9  -  Committee set up to review “mark to market” models and valuations, which are contentious issues By Angela Tan angelat@sph.com.sg Singapore NOBLE Group’s board of directors has set up an independent board committee to review its accounting practices, months after being in the spotlight
      Source: Bloomberg Compiled by The Business Times  -  739 words
    • Article
      Lock icon Dancing with the Chinese market
      889 9  -  COMMENTARY BY BERNARD AW T The writer is a market strategist with IG Markets CHINESE authorities and financial institutions have undertaken coordinated actions to stem the bleeding in the equity markets, but it appears that sentiments were hardly swayed. Chinese stocks continued to fall despite
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    • Article, Illustration
      Lock icon STI / Catalist
      63 10 STI Catalist Straits Times Index July 7,2015 3,340.93 +7.99 (+0.24%) Current streak 1 day Day high 3,346.48 Day low 3,327.70 52-week high 3,539.95 (Apr 15, 2015) 52-week low 3,154.21 (Oct 16, 2014) FTSE ST Catalist index July 7,2015 644.39 -0.58 (-0.09%) Current streak 4 days Day high 647.62 Day low
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    • Article, Illustration
      Lock icon STI gains eight points in broadly weak session
      584 10  -  Hopes that Greece will eventually be bailed out and remain in eurozone benefit heavyweights Singtel and the banks TTSTOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT TRADING in the local market remained quiet and inactive even as some prices were lifted by hopes that
      Source: Bloomberg  -  584 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 244 +1 246/243 271 219 6 6174.2 CapitaLand 353 +3 354/349 379 293 12.9 2.5 *****.8 CapitaMall Trust 219 +2 220/217 228 188.5 4.9 7598.7 CityDev 990 -7 999/990 1095 915 11.9
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    • Article
      Lock icon MOST ACTIVE
      35 10 VOLUME WE W*****5 302,217,400 SIIC Environment 102,709,100 Ezra R 83,340,400 CN*****MBeCW*****9 68,988,100 IHC 53,879,500 Market volume 1,763,037,000 VALUE Singtel 83,216,758 Global Logistic 72,214,418 UOB 41,409,406 Noble 38,635,908 Jardine C&C 38,456,185 Market value 1,018,957,000
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    • Article
      Lock icon SGX ETFs Most Active
      106 10 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap UETF SSE50China 271 -2 278 277/268 340/142 270/274 84.7 DBXT MSRussia US$ US194 -3 155 197/193 302/140 193/194 DBXT CSI300 US$ US1075 -24 104 1105/1040 1471/640 1078/1081 IS MS INDIA US$ US763 +3 60 766/760 1000/696
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 10 Jul 7 VALUE CLOSE BT OB/OS -573.00 -65.00 BT CADI -*****.00 -43.00 BT 10-day MA -*****.00 -58.00 FTSE ST Mid Cap 757.94 -1.78 FTSE ST Small Cap 469.63 -1.12 FTSE ST All Share 799.87 +1.09 FTSE ST China Top 196.53 -1.83 FTSE ST China 238.43 -0.77 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 10 STI FTSE ST All-Share FTSE ST All-Share index July 7,2015 799.87 +1.09 (+0.14%) Current streak 1 day Day high 801.58 Day low 798.20 52-week high 847.98 (Apr 15, 2015) 52-week low 762.71 (Oct 16, 2014)
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      Lock icon STI / MSCI EAFE
      33 10 STI MSCI EAFE MSCI EAFE Index July 6,2015 1,819.88 -28.54 (-1.54%) Current streak 2 days Day high 1,838.06 Day low 1,812.46 52-week high 1,981.35 (July 7, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 4 2 0 0 0 8 4 2 Manufacturing 37 53 28 6 8 9 43 61 37 Commerce 12 18 22 5 6 2 17 24 24 Tpt/Stor/Comms 15 15 9
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 11,659 11,659 43,310 43,310 Manufacturing 128,596 19,467 148,063 73,892 745 74,637 Commerce 110,379 37,164 147,543 132,474 2,082 134,556 Tpt/Stor/Comms 220,520 6,011 226,531 197,109 522 197,631 Finance 12,458 207 12,665 124,063 42 124,105 Construction 36,062 3,009
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    • Article
      Lock icon GAINERS
      74 10 BY CENTS CLOSE UP 52w high/low DBXT Nifty US$ ***** 193.8 1.1 *****/***** DBXT MSINDIA US$ 1064 40.7 2.9 1160/971 Lyxor MS India US$ 1679 38.0 1.7 1840/1332 GLD US$ ***** 32.5 0.2 *****/***** SGX 816 19.0 2.4 880/680 BY PERCENTAGE CLOSE UP 52w high/low Armarda 0.2 100.0 0.1
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    • Article
      Lock icon LOSERS
      73 10 BY CENTS CLOSE DOWN 52w high/low DBXT China50 US$ 3449 -149.1 -3.1 4258/2800 Prudential USD 2380 -105.7 -3.2 2500/2150 Lyxor ChinaH US$ 1640 -96.2 -4.1 2055/1280 DBXT MSKorea US$ 5367 -80.0 -1.1 6735/5367 Jardine C&C R1 358 -78.0 -17.9 636/326 BY PERCENTAGE CLOSE DOWN 52w high/low ChinaGaoxian W18 1.1
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    • Article
      Lock icon UNUSUAL ACTIVITY
      82 10 VOL CLOSE($) CHANGE YZC ADR US$ 0.8 6.230 -3.860 -38.26 SHI ADR US$ 0.44 38.150 -13.360 -25.94 Allied Tech 13,150.8 0.021 +0.001 +5.00 Cacola 500.0 0.015 +0.005 +50.00 Wilton Resources 110.2 0.066 -0.013 -16.46 Infinio 2,700.2 0.003 +0.001 +50.00 Hiap Tong 120.2 0.101 +0.010 +10.99 Armarda 5,882.0 0.002
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    • BROKERS’ TAKE
      • Article
        Lock icon Yangzijiang Shipbuilding Holdings | Buy
        160 10 Yangzijiang Shipbuilding Holdings Buy Holdings Buy July 7 close: S$1.40 Target price: S$1.62 DBS Group Research, July 7 As the largest and most cost-efficient private shipbuilder in China, Yangzijiang is amongst the handful of Chinese yards that have waded into the high-end vessel space to battle their Korean rivals, and
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      • Article
        Lock icon Halcyon Agri Corporation
        229 10  -  Compiled by Chan Yi Wen Buy July 7 close: S$0.60 Target price: S$0.73 UOB Kay Hian, July 7 We upgrade Halcyon Agri Corporation (HACL) to “Buy” as share price has declined 19 per cent since our downgrade in May 15. We forecast 2015 and 2016 net profit
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    • Article
      Lock icon CALENDAR
      37 10 DATA I 4pm (July 8) Singapore COE Bidding Results I 8pm (July 8) US MBA Mortgage Applications I 3am (July 9) US Federal Open Market Committee Meeting Minutes I 9.30pm (July 9) US Initial Jobless Claims
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    • Article
      Lock icon Euro falls 1% against greenback but no panic selling
      436 11 CURRENCIES REUTERS London THE euro fell one per cent against a buoyant US dollar on Tuesday, as German 10-year Bund yields fell to their lowest since early June and interest rate differentials moved against the shared currency. The drop in Bund
      REUTERS  -  436 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 11 Jul 7 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.945 4.622 0.676 5.772 47.177 99.029 0.913 8.437 2.834 1.123 75.718 33.627 1.009 9.289 0.704 23.065 25.284 0.479 0.744 Canada 1.058 4.891
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      • Article, Illustration
        Lock icon HANG SENG
        2 11
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      • Article, Illustration
        Lock icon NIKKEI
        1 11
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      • 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 Jul 7 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0084 1.0095 0.7441 0.7445 Canadian dollar 1.0673 1.0683 0.7879 0.7876 Euro 1.4913 1.4923 1.1004 1.1006 NZ dollar 0.8981 0.8992 0.6627 0.6632 Sterling pound 2.1068 2.1087 1.5546 1.5552
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 11 Jul 7 S$ Bid Offer 1-month 1.3557 1.3567 2-months 1.3563 1.3574 3-months 1.3567 1.3576 6-months 1.3586 1.3599 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES Most active
        201 11 Jul 7 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left WE Holdings Ltd W*****5 0.1 unch *****7 1 0 1 FTSEChinaA50 ***** MBeCW*****9 13 -2 ***** 0.0 2 OCBC Bk MB eCW*****1 12.2 -0.1 4095 0.2 1040
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 11 In local curr In S$ In US$ dy yr dy yr dy yr Jul 6 Index Change Change Change Change Change Change World Preliminary 1314.6 -0.7 3.0 -0.7 3.0 -0.8 1.2 EAFE Preliminary 1051.0 -1.5 6.5 -1.4 4.4 -1.5 2.5 Europe Preliminary 1447.1 -1.3 4.7
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        401 11 Jul 7 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.33 *****.44 *****.96 Jul15 *****.50 *****.00 *****.00 *****.00 *****90 *****9 Aug15 *****.50 *****.50 *****.00 *****.00 6556 2369 NIKKEI 225 INDEX FUTURES SPOT *****.23 *****.00 *****.18 Sep15 *****.00 *****.00 *****.00 *****.00 *****4 *****7 Dec15
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    • BANK RATES
      • Article
        Lock icon SIBOR
        36 11 Jul 7 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 11 Jul 7 $S Offer Bid 0vernight 0.05 par 1-month 0.6875 0.5625 2-months 0.75 0.625 3-months 0.8125 0.6875 Overnight mode: 0.08 US$ 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
        67 11 Jul 7 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.75 102.81 102.80 5-Year N*****0S 2.000 01-Jul-20 100.2 100.20 100.20 10-Year NX*****Z 2.375 01-Jun-25 97.69 97.55 97.50 15-Year NY*****E 2.875 01-Jul-29 99.7 99.60 99.60 20-Year NZ*****V 3.375 01-Sep-33 105.18
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 11 Jul-6 Price Net change change Last Trade Agricultural Jul-6 CBOT Soybeans (US cents/bu) 1033.75 -11.50 -1.10% 14/07/2015 CBOT Soybean Oil (US cents/lb) 32.64 -0.72 -2.16% 14/07/2015 CBOT Wheat (US cents/bu) 588.50 2.75 0.47% 14/07/2014 Jul-6 LIFFE Cocoa (£/tonne) 2146.00 -13.00 -0.60% 16/07/2015 LIFFE Coffee (US$/tonne) 1844.00 -9.00 -0.49%
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      527 6 Wine, Dine -t i > Li i U_ 4 0 i—i i J I v H w K f A WOKSTEff OCCASIONS Oyster Occasions returns to 10 at Claymore this June and July! Indulge in six varieties, freshly shucked to order and available in unlimited servings. Savour these lovely gems
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      581 8 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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  • REAL ESTATE
    • Article
      Lock icon Property investment deals surge to S$5.7b in Q2
      1150 12  -  Office deals a key driver, but softer leasing market, higher borrowing cost present headwinds By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore INVESTMENT sales of property big-ticket transactions of at least S$ 10 million have risen 56.7 per cent to nearly S$5.7 billion in
      1,150 words
    • Article, Illustration
      Lock icon Average monthly Orchard Rd gross retail rent may slip by up to 5% in 2015: Colliers
      541 12  -  By Elizabeth Mak eamak@sph.com.sg Singapore THE average monthly gross rent for retail space in Orchard Road might correct by up to -5 per cent in 2015, according to a report by Colliers International. This
      FILE PHOTO  -  541 words
    • Article
      Lock icon London luxury-home sales dip as buying season is ‘wiped out’
      317 12 BLOOMBERG London LUXURY-HOME owners, who rushed to offer their houses and apartments for sale after the Conservative Party won May’s national election, are finding that fewer buyers are interested. In the city’s prime central districts, such as Knightsbridge and Mayfair,
      BLOOMBERG  -  317 words
    • Article
      Lock icon SRX Property launches app that tracks homes’ value, rent
      461 12  -  By Caithlin Ng caithng@sph.com.sg Singapore SINGAPORE Real Estate Exchange (SRX) Property has launched ‘my Property Tracker’, a free application targeted at the 1.4 million home owners and renters here. Powered by StreetSine Technology Group which is 60 per cent owned by
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    • Article
      Lock icon Builders unveil action plans to cut workplace deaths
      579 12  -  Design for Safety rules to be gazetted next month and to take effect next year By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore DESIGN for Safety (DfS) regulations are ready to be gazetted under the Workplace Safety and Health (WSH) Act by August 2015
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      1986 13 ADVERTORIAL Grooming IT talent for Singapore SIM Global Education supports skills development for this fast-growing sector SINGAPORE may be a small nation but it counts itself as one of the world’s most technologically advanced economies. According to the World Economic Forum’s Global Information Technology Report 2013, Singapore ranks as the
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon Biggest US banks would ditch securities arms in bankruptcy
      841 14 They say they are smoothing the way for orderly resolution by reorganising relations between core units BLOOMBERG Washington BIG US banks said they would chop off Wall Street arms and non-essential units if the companies were to fail, with JPMorgan Chase
      BLOOMBERG; PHOTO: REUTERS  -  841 words
    • Article
      Lock icon Diehards stay on floor in New York, Chicago commodity pits
      590 14 BLOOMBERG New York COMMODITY traders in Chicago and New York aren’t ready to call it quits even after CME Group Inc shut most of the futures pits in both cities. Some brokers and traders will rent booths as office space
      BLOOMBERG  -  590 words
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      279 14 STProperty EVENTS SiTlERMBERTY SEMINAR if Sin'gapj0rei& v ithe.,Asia Pacific iiMiit j 1-Day Pass 530 $22 2-Day Pass 540 $35 Date: Saturday Sunday 29 30 August 2015 Venue: SUNTEC Singapore Convention Exhibition Centre Level 3 Summit 1 2, 321 322 Time: 11.00am to 4.00pm Registration starts at 10.30am TOPICS SPEAKERS DAY1
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      Lock icon Page 14 Advertisements Column 2
      25 14 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
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      2793 15 JASON MARINE GROUP LIMITED Company Registration No.: *****6601W (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting (“AGM”) of Jason Marine Group Limited (the “Company”) will be held at 194 Pandan Loop, #05-27 Pantech Business Hub, Singapore *****3 on
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Refracking offers hope to shale industry
      896 16 The process could boost flow of crude and increase estimate of reserves held in the well BLOOMBERG Houston THE technique itself is nothing new. Oil crews across the world have been schooled on its principles for generations: Identify ageing, low-output wells and hit them
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    • Article
      Lock icon Saudi petrochem giant forms research partnership with NUS
      296 16  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore SAUDI group Sabic has tied up with the National University of Singapore (NUS) to develop materials that will enable more sustainable product solutions. The Master Research Agreement signed on Tuesday will enable the petrochemical giant to
      296 words
    • Article
      Lock icon Gavea may bid for Petrobras assets
      451 16 BLOOMBERG Sao Paulo GAVEA Investimentos Ltda, the Brazilian investment firm controlled by JPMorgan Chase Co, said it may bid for assets being sold by embattled oil company Petroleo Brasileiro SA. Gavea, founded by former Brazilian central bank president Arminio Fraga, is considering partnering other
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      2142 16 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices BAN LEONG TECHNOLOGIES LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number: *****3898C) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of Ban Leong Technologies Limited (the “Company”) will be held at 150 UbiAvenue
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      349 18 / 19 103 129 185 164 193 223 266 186 198 215 Temasek steps up investments in Asia (in S$ billion) 300 250 200 150 100 50 21 Asian Financial Crisis 0 SARS Epidemic Dotcom Peak 13 Listing of Singtel Global Financial Crisis 130 76 77 78 79 80 81 82 83
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  • TECHNOLOGY
    • Article
      Lock icon Facebook’s Sandberg joins SurveyMonkey board
      227 20 REUTERS San Francisco FACEBOOK Inc’s chief operating officer Sheryl Sandberg is taking a seat on the board of SurveyMonkey, the online polling company that was run by her late husband, Dave Goldberg. SurveyMonkey, a privately held company valued at US$2 billion, also appointed to its
      REUTERS  -  227 words
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      Lock icon New, simpler ‘Buy’ buttons aim to entice mobile shoppers
      881 20 Firms say a more predictable checkout process will drive sales by cutting inconvenience NYT San Francisco DENISE CHAPMAN, a director at a San Diego advertising agency, is afraid to count how many hours of each day she spends on her mobile
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    • Article, Illustration
      Lock icon Samsung predicts profit fall as S6 phone sales disappoint
      406 20 REUTERS Seoul SOUTH KOREAN tech giant Samsung Electronics on Tuesday guided for weaker-than-expected second-quar-ter earnings, as a supply shortage plagued its latest smartphone launch and tepid demand from key markets likely undercut sales. The guidance suggests that Samsung, while on a
      REUTERS; PHOTO: BLOOMBERG  -  406 words
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  • CONSUMER
    • Article
      Lock icon Merger mania in US health insurance industry
      569 24 Question remains whether consumers will benefit as insurers grow larger NYT New York AMERICA’S five largest health insurance companies are circling each other like hungry lions closing in on prey. On Friday, Aetna said it would acquire its smaller rival Humana to create
      NYT  -  569 words
    • Article
      Lock icon M&S says merchandise sales dip but margin story intact
      283 24 REUTERS London BRITISH retailer Marks Spencer (M&S) reported a dip in first-quarter underlying sales in its clothing, footwear and homewares business on Tuesday, a minor setback for the group after a return to growth in the previous three months. The 131-year-old
      REUTERS  -  283 words
    • Article, Illustration
      Lock icon Plan to increase Sunday shopping hours in UK
      345 24 AFP London THE British government on Tuesday announced plans to allow shops to open longer on Sundays to compete with online shopping and tourist destinations like Paris and New York. Finance Minister George Osborne said he wanted to give mayors and local
      AFP; PHOTO: REUTERS  -  345 words
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      65 24 NOTICES T O L L F R E E 1 8 0 0 -2 8 9 8 8 2 2 I E m a i l n o t i c e s s p h c o m s g I w w w. s p h c l
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      151 24 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. Learn from Marc Faber on Asia
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Drag on productivity growth can be fixed: OECD
      670 26  -  The solution lies with governments giving a leg-up to businesses and improving the match between talents and jobs By Anthony Rowley btworld@sph.com.sg Tokyo A slowdown in productivity growth over the past decade has raised concerns about the long-term outlook for the global
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    • Article
      Lock icon Aussie central bank holds rates steady, eyeing a lower currency
      513 26 REUTERS Sydney AUSTRALIA’S central bank held interest rates at record lows on Tuesday as sliding commodity prices, a still-high currency and mounting economic uncertainty in China argue for continued stimulus, and even the chance of more cuts. The Reserve Bank
      REUTERS  -  513 words
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      Lock icon Stabilising China’s stock market seen as major test for Xi
      613 26 BLOOMBERG Hong Kong FOR Chinese President Xi Jinping, mission No 1 has been preserving Communist Party rule. That now means stabilising the stock market. Mr Xi’s government rushed out an unprecedented series of measures in recent days to halt a
      BLOOMBERG; PHOTO: REUTERS  -  613 words
    • Article
      Lock icon Bank Negara defends ringgit amid political storm
      695 27 Thanks to central bank’s damage limitation, unit has lost only 0.8% since Friday, but it has weakened past old currency peg of 3.80 per US dollar REUTERS Singapore MALAYSIA’S central bank intervened for a third successive trading day on Tuesday to support the
      REUTERS  -  695 words
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      Lock icon Malaysia plans more subsidy cuts despite 1MDB scandal
      558 27 BLOOMBERG Kuala Lumpur MALAYSIA plans to cut more subsidies and move billions of dollars in government employee housing loans off its balance sheets to bolster its fiscal position, even as a growing scandal threatens Prime Minister Najib Razak’s ability to implement potentially
      BLOOMBERG; FILE PHOTO  -  558 words
    • Article
      Lock icon Former IMF economist Veerathai to head Thailand’s central bank
      534 27 BLOOMBERG Bangkok VEERATHAI Santiprabhob, a former economist at the International Monetary Fund (IMF), has been named the new governor at the Bank of Thailand (BOT). Mr Veerathai, 45, will take charge on Oct 1 after Prasarn Trairatvorakul steps down following a
      BLOOMBERG  -  534 words
    • Article, Illustration
      Lock icon Greek turmoil casts shadow over forex market
      526 28 From Sweden to Switzerland, central banks are battling to contain appreciation of their currencies versus euro; BOE’s moves towards higher rates are also likely to be hampered BLOOMBERG London GREECE’S debt turmoil has found a favourite conduit for spreading contagion: the US$5.3 trillion-a-day
      BLOOMBERG; PHOTO: BLOOMBERG  -  526 words
    • Article
      Lock icon Aussie dollar’s fall below 75 US cents not enough to appease RBA chief
      538 28 BLOOMBERG Sydney GLENN Stevens isn’t satisfied yet. He wants more even after the Aussie dollar fell 8 per cent this year and dropped below the 75 US cent level the Reserve Bank of Australia chief said last
      BLOOMBERG  -  538 words
    • Article
      Lock icon Jimmy Carter says US influence waning in Middle East and globally
      301 28 BLOOMBERG Washington THE US is in an “inevitable relative decline in worldwide influence” due to the rise of China, India, and other developing economies, former US president Jimmy Carter said on Tuesday. “As they increase in economic and cultural
      BLOOMBERG  -  301 words
    • Article
      Lock icon US trade gap grows in May as exports decline
      594 28 BLOOMBERG Washington THE US trade deficit widened in May as exports declined by the most in three months, showing that businesses were having trouble drumming up sales to overseas customers. The gap grew 2.9 per cent to US$41.9 billion from the
      BLOOMBERG  -  594 words
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      Lock icon Greece’s vote to reject further austerity demands gets Cristina Fernandez’s approval
      421 28 BLOOMBERG Buenos Aires FEW heads of state have heaped more praise on Greece after it spurned creditor demands than Argentine President Cristina Fernandez de Kirchner. In the wake of the vote to reject further austerity demands on Sunday, she
      BLOOMBERG; PHOTO: AFP  -  421 words
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      1616 27 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices CHINA KUNDA TECHNOLOGY HOLDINGS LTD (Incorporated in the Republic of Singapore) Company Registration No. *****2727W NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the Annual General Meeting (“AGM”) of China Kunda Technology Holdings Ltd (the “Company”) will be held
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  • TRANSPORT
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      Lock icon Gloom and doom in shipping
      937 29  -  STRAIT TALK BY DAVID HUGHES WITH the eurozone in crisis over Greece and China’s stock market heading south, it would be nice to come across some reassuringly good news about the shipping industry. Sadly, there is little comfort to be had from the latest Shipping
      937 words
    • Article
      Lock icon Two major train lines knocked out for hours
      322 29  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore TWO major train lines were knocked out for some three hours during peak-hour traffic on Tuesday, with early investigations suggesting that a power fault linked to a faulty train was the cause. This comes about four
      322 words
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      Lock icon Loss of Ex-Im Bank financing a competitive disadvantage: Boeing
      451 29 REUTERS Washington LOSS of US Export-Import Bank financing would put Boeing Co at a “huge competitive disadvantage” since its rivals still have access to such financing support, the head of the company’s commercial aircraft division told reporters on Monday. Ray Conner,
      REUTERS; PHOTO: AFP  -  451 words
    • Article
      Lock icon Big four US airlines conspiring on prices, fliers say in lawsuits
      430 29 Travellers said to have been hurt by new and higher fees, reduced capacity BLOOMBERG Chicago THE four biggest US airlines have been sued by travellers claiming that the carriers are conspiring to keep ticket prices high in the face
      BLOOMBERG  -  430 words
    • Article
      Lock icon Renault’s top draw in India faces heat
      695 30 Suzuki, Hyundai to introduce their first models in compact SUV segment, posing a threat to French carmaker BLOOMBERG Mumbai AFTER a series of flops in India, Renault SA hit pay dirt in 2012 with the Duster, a small sport utility vehicle that lured
      BLOOMBERG  -  695 words
    • Article, Illustration
      Lock icon Souped-up dashboards in cars good for safety? The debate rages on
      979 30 REUTERS San Francisco WHEN it comes to car dashboard displays that are more like smartphones, two things are clear: Customers want them, and automakers are intent on supplying them. But are they really a good idea? Car companies answer
      REUTERS; PHOTO: REUTERS  -  979 words
    • Article
      Lock icon Rolls-Royce cruises Kazakh streets in ultra-luxury car frontier
      660 30 BLOOMBERG New York ROLLS-ROYCE’S search for buyers of cars like the US$294,000 Wraith coupe has landed it in Kazakhstan, where the average person lives on about US$330 a month. Thanks to an abundance of oil and metals riches, the former Soviet republic
      BLOOMBERG  -  660 words
    • Article
      Lock icon Grandma’s unsold cars jumpstart a US$1b online business in Germany
      841 30 BLOOMBERG London IN the summer of 2012, Christian Bertermann was a frustrated young man trying to get rid of two old cars that belonged to his grandmother. Mr Bertermann, 31, an Internet specialist in Berlin, had recently quit his job
      BLOOMBERG  -  841 words
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      1224 29 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices (CACTION /4e/ya»v ACTION ASIA LIMITED (Incorporated in Singapore) (Company Registration No. *****6715M) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Shareholders of Action Asia Limited (the “Company”) will be held at Ballroom 3
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    1768 31 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 31 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
    • Article
      Lock icon Greece crisis a teachable moment on pension reform and debt burden
      600 32 AS the world agonises again over the possible ramifications of a possible eurozone exit by Greece, the world including countries like the US, China, and even Singapore has much to learn from the Greek tragedy. EDITORIAL Teachable moments abound
      600 words
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      Lock icon China’s new national security law broad and vague
      789 32  -  THE BOTTOM LINE By Frank Ching T The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 CHINA’s new national security law, enacted last week by the National People’s Congress, the country’s parliament, is worrying on several levels,
      789 words
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      Lock icon Game of Thrones 2016: the plot thickens
      1305 32  -  Forget about it being a straight fight between the House of Clinton and the House of Bush By Leon Hadar Washington FOR a while, it seemed that when it came to the approaching 2016 US presidential race dominated by expectations that Democratic Hillary
      PHOTO: REUTERS  -  1,305 words
    • Article, Illustration
      Lock icon Eurozone’s big fear is a successful Grexit
      853 33  -  COMMENTARY By Anthony Rowley ONE of the things that is probably scaring eurozone authorities more than most people suppose is the threat that Greece may not only survive but actually thrive outside of the “common currency” area. The temptation for other peripheral economies
      853 words
    • Article
      Lock icon Byron will bring freedom with years of acute misery
      712 33  -  By Meghnad Desai T The writer is emeritus professor at the London School of Economics and Political Science and chairman of the OMFIF Advisory Board OMFIF BRIEFING MANY people think that by voting No, the Greeks have slit their throats. But
      OMFIF BRIEFING  -  712 words
    • Article
      Lock icon Conditions in Singapore’s equities market have worsened despite many SGX initiatives
      523 33  -  LETTER TO THE EDITOR Tng Kim Bock AFTER reading the letter “Achieving a robust and vibrant securities market” by Ong Chong Tee of the Monetary Authority of Singapore (BT, June 26), trading representatives (TRs) cannot help but feel that
      523 words
    • Article, Illustration
      Lock icon Greece: A mess with consequences
      1314 33  -  The country is both defiant and desperate; EU leaders wonder if the small economy is worth saving. BY DAVID DAPICE BY DAVID DAPICE T The writer is the economist of the Vietnam programme at Harvard University’s Kennedy School of Government Cambridge AS Greece teeters on
      PHOTO: REUTERS  -  1,314 words
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon Women’s World Cup final sets record for viewership in US
      869 34 US victory is watched by 25.4m viewers on Fox a record for any football game on English-language TV NYT New York THE United States’ 5-2 victory over Japan in the Women’s World Cup final was seen by 25.4 million viewers
      NYT; PHOTO: AFP  -  869 words
    • Article
      Lock icon Bringing a distraction, perhaps a smile, to frazzled commuters
      630 34 NYT New York WEARING a bow tie of Scrabble pieces that spell “GREAT”, a denim shirt, blue jeans and a brimmed hat, Thomas Knox waved to subway commuters one night last week while sitting at a table garnished with a sunflower
      NYT  -  630 words
    • Article
      Lock icon Bloomberg’s granddaughter gets hybrid surname
      280 34 NYT New York FORMER New York Mayor Michael Bloomberg is known for affixing his name to concert halls, corporate towers, glossy magazines and computer terminals, ensuring that his surname will endure for generations. His daughter Emma has other ideas. When Emma Bloomberg, his oldest child,
      NYT  -  280 words
  • Page 34 Advertisements
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      40 34 25 OFTORQUE 25 th BIRTHDAY SUBSCRIPTION SPECIAL (ONE-TIME ONLY OFFER} VNCJPOWFCJMHJVTMOffF CUS PCM 2S NEW PRINT ISSUES OF TORQUE FOR THE PRICE OF 12! at only $82.80 (U.P. $172.50) CwO SUBSCRIPTION GIFT worth up to $89.90 SUBSCRIBE NOW! WWW.TORQUE.COM.SG/SUBSCRIPTION SPHmagazines
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      Lock icon Page 34 Advertisements Column 2
      84 34 m o CM m^anmar Real Estate Show Myanmar 2015 3-5 August 2015 Yangon, Myanmar The 3rd annual real estate and urban build conference in Myanmar Incorporating: Myanmar o retail Urban and City Planning Conference 2015 I Your gateway to trends and investment opportunities in Myanmar's real estate Group booking is
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      23 34 $1m asking price for Boon Keng Road DBSS flat on resale market on resale market To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • Page 34 Miscellaneous
    • Miscellaneous
      Lock icon Page 34 Miscellaneous Column 1
      364 34 CRYPTIC CROSSWORD Across 1 Naughty nude lay outside party with no sense of shame (11) 8 John in Scotland, after pain and deprivation, is naively optimistic (11) 11 Bring up what is brought up last (4) 12 Nameless devil in short protest (4) 13 Chaperons expected when two knights enter
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      181 35 Phillip Futures lets you Buy SG Blue Chips for FREE SEMINAR Using SiMSCI Win special edition SG50 Gold Coins up to $400 Commission Rebate* $5Visit www.phillipfutures.com.sg > Get Started > SiMSCI Promotion $5 commission per side per lot. Other terms and conditions apply. Singapore Market Forecast Complementing Stocks Using Futures
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  • EXECUTIVE MONEY
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      123 36 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 6390 5118 Losses can exceed your deposits. Ensure you understand the
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