The Business Times, 15 July 2015

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Microfilm: NL33560
Total Pages: 41
1 12 The Business Times
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  • Title Section
    Lock icon Masthead
    33 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 15, 2015G G
    33 words
  • Article
    Lock icon MARKETS
    28 1 Tuesday Change STI 3,316.50 +5.28 KL COMP 1,721.10 +4.99 NIKKEI 225 20,385.33 +295.56 HANG SENG 25,120.91 -103.10 SHENZHEN B 1,301.13 -12.39 DOW (11:45 am EDT) 18,031.85 +54.17
    28 words
  • Article, Illustration
    Lock icon Miserable Q2 S’pore GDP prompts shaving of ftill-year forecasts
    742 1  -  The economy shrank 4.6 per cent on a seasonally adjusted, quarter-on-quarter annualised basis By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore TO say the Singapore economy disappointed in the second quarter would be an understatement. It performed even worse than already-tepid expectations, contracting
    Source: Ministry of Trade and Industry (MTI)  -  742 words
  • Article
    Lock icon Crude slides as Iran clinches historic nuclear deal
    720 1 trade in Iran would be enormous.” REUTERS, BLOOMBERG London OIL dropped on Tuesday after Iran and six global powers reached a landmark nuclear deal that would see an easing of sanctions against Teheran and a gradual increase in its oil exports. Earlier
    trade in Iran would be enormous.” REUTERS, BLOOMBERG  -  720 words
  • DAILY DIGEST
    • Article
      Lock icon The Singapore property market
      39 1 is unlikely to stage a major rebound even if some cooling measures are relaxed now, market watchers say, as the country faces a “new normal” of slower growth and even stagnation risks. TOP STORIES 2
      39 words
    • Article, Illustration
      Lock icon Singapore has not suffered any
      31 1 financial impact as a result of Greece missing a US$1.7 billion repayment to the International Monetary Fund on June 30, says Lawrence Wong. TOP STORIES 4
      31 words
    • Article
      Lock icon Some S$20 million in government
      27 1 project opportunities have been created for Singapore tech firms under the Accreditation@IDA programme within a year of its inception. TOP STORIES 6
      27 words
    • Article
      Lock icon Tiger Airways’ integration with
      35 1 the Singapore Airlines group is the key element “for a decisive turnaround and also for future sustainable growth”, says Lee Lik Hsin, chief executive of the budget carrier. COMPANIES MARKETS 7
      35 words
    • Article
      Lock icon Mark Mobius will step down as
      27 1 the lead manager of one of the oldest developing-nation stock funds after trailing his benchmarks in recent years. BANKING FINANCE 14
      27 words
    • Article
      Lock icon The US FDA warns
      34 1 that the risk of heart attack and stroke from widely used painkillers that include Motrin IB, Aleve and Celebrex but not aspirin was greater than it previously had said. CONSUMER/17
      34 words
    • Article
      Lock icon Sales at US retailers drops unexpectedly
      26 1 in June, upending optimism about the strength of the rebound in consumer spending during the second quarter. GOVERNMENT ECONOMY /18
      26 words
    • Article
      Lock icon Indonesia refrains from monetary
      17 1 easing that could further weaken one of Asia’s worst-performing currencies. GOVERNMENT ECONOMY 23
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      131 1 8 "*****1 *****4 S$783.1M DEAL CapitaLand sells Bedok Mall to CapitaLand Mall Trust TOP STORIES 2 r Deutsche Bank db.com Only a strong bank can forge successful partnerships. Pevprvn^ Tv A mkl i I rl j This advertisement has been approved and/or communicated by Deutsche Bank AG or by its
      131 words
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      21 1 AFTER THE ROUT Hedge funds reassess China EXECUTIVE MONEY 30 IMF STUDY Greece needs far more debt relief TOP STORIES 4
      21 words
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      Lock icon Page 1 Advertisements Column 3
      26 1 NON-LANDED PRIVATE HOMES Resale prices inch up for second month REAL ESTATE 12 CEO CONVERSATIONS 2015 golden jubilee edition Building the economy With your BT today
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  • TOP STORIES
    • Article, Illustration
      Lock icon CapitaLand sells Bedok Mall to CMT for S$783.1 m
      402 2  -  CapitaLand Mall Trust says property yield of about 5.1% is in line with its distribution yield By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore CAPITALAND Limited is selling Bedok Mall to CapitaLand Mall Trust (CMT) for S$783.1 million, the real estate group said
      FILE PHOTO  -  402 words
    • Article, Illustration
      Lock icon The Straits Times launches 170th anniversary e-book as gift to the nation
      267 2 THE Straits Times, which celebrates its 170th anniversary on Wednesday, will launch an e-book that recounts key moments from the nation’s past. Living History: 170 years of The Straits Times offers highlights from ST’s reportage of Singapore during
      267 words
    • Article, Illustration
      Lock icon No quick recovery for Singapore property market: seminar
      902 2  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore AS Singapore faces a “new normal” of slower growth and even stagnation risks, the property market is unlikely to stage a major rebound even if some cooling measures are relaxed now, market watchers said at a
      PHOTO: BLOOMBERG  -  902 words
    • Article
      Lock icon Smarter regulation needed for Indian aviation sector: Iata
      614 2  -  By nishar@sph.com.sg Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore THE International Air Transport Association (Iata) has called for the Indian government to re-evaluate cumbersome regulations and high costs levied on its domestic airlines as the sector remains poised to turn in an overall loss
      614 words
    • Article
      Lock icon M’sia visitor arrivals down 9% in Q1 despite weak ringgit
      529 2  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur MALAYSIA’S tourism sector appears headed for a contraction this year, with arrivals from its top three source markets significantly lower in the first quarter even with a weaker ringgit in play. Except for a
      529 words
    • Article, Illustration
      Lock icon Greek default: No financial impact on Singapore
      557 4  -  Lawrence Wong tells Parliament there could be some knock-on effects globally should crisis unravel, leading to Grexit PARLIAMENT By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore SINGAPORE has not suffered any financial impact as a result of Greece missing a US$1.7 billion repayment to the
      557 words
    • Article, Illustration
      Lock icon Greece needs far more relief than discussed so far: IMF study
      680 4 REUTERS Brussels A SECRET International Monetary Fund (IMF) study showed Greece needs far more debt relief than European governments have been willing to contemplate so far, as Germany heaped pressure on Athens on Tuesday to reform and win back
      REUTERS; PHOTO: REUTERS  -  680 words
    • Article
      Lock icon Regulations a top concern among local insurance industry players: survey
      591 4  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore SINGAPORE’S regulatory environment is the top issue that the local insurance industry is anxious about, said a survey that charts the top risks in the global insurance sector. The Centre for the Study of
      591 words
    • HOUSE BRIEFS
    • Article
      Lock icon S$20m in government projects open up for Singapore tech firms
      541 6  -  Accreditation@IDA programme aims to help accredited tech firms earn their stripes, make their name and grow By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore SOME S$20 million in government project opportunities have been created for Singapore tech firms under the Accreditation@IDA programme
      541 words
    • Article, Illustration
      Lock icon Premier League has no say in how pay-TV operators price broadcasts: EPL chief
      743 6  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE spiralling cost of watching the English Premier League (EPL) football matches on pay-TV is something beyond the league’s control, its executive chairman Richard Scudamore has said. When prices last went
      PHOTO: ARSENAL FC VIA GETTY IMAGES  -  743 words
    • Article, Illustration
      Lock icon Over 60 firms join off-peak travel scheme
      456 6  -  By Ong Hui Qun ohuiqun@sph.com.sg Singapore MORE than 60 organisations with more than 160,000 employees have joined a programme that provides funding to firms for encouraging their workers to make their commute during off-peak periods or to use more sustainable modes of transport,
      456 words
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  • Page 4 Advertisements
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      Lock icon Page 4 Advertisements Column 1
      125 4 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
      125 words
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  • Page 6 Advertisements
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      Lock icon Page 6 Advertisements Column 1
      125 6 ww ASIA INji 2 0 15 29-31 JULY 2015 Marina Bay Sands, Singapore Sands Expo and Convention Centre, Level 1, Hall A See the latest trends in workspace design ergonomics! r 1 Free Admission!■ Register now! www.OfficExpoAsia.com/reg/2 Interested to exhibit? Tel: (65) 6848 5939 Email: OEA@bizlink.com.sg Organised By: Block 8
      125 words
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      Lock icon Page 6 Advertisements Column 2
      215 6 In this seminar, we will share with you an integrated method which bridges the 2 investing analysis of FA& TA, enabling both investors and traders to find the undervalued stocks at a technically low price. This allows you to profit with the maximum upside. We will explain how greed and
      215 words
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      110 6 D I G I TA L S U B S C R IPT I O N S P E C I A L SG5O SUBSCRIBE TO YOUR FAVOURITE READS AT $50 FOR 5 TITLES! SAVE UP TO 88% for a 12-month digital subscription to any 5 of these magazines. Don’t
      110 words
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  • COMPANIES & MARKETS
    • Article
      Lock icon Scene set for Tiger Airways’ decisive turnaround: CEO
      675 7  -  Lee Lik Hsin also sees future sustainable growth as budget carrier can benefit from SIA’s scale and connectivity By Angela Tan angelat@sph.com.sg Singapore THE integration with the Singapore Airlines (SIA) group is the key element “for a decisive turnaround and also for
      675 words
    • Article
      Lock icon Noble appoints David Yeow as independent non-exec director
      314 7  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore NOBLE Group has appointed David Yeow as an independent non-execu-tive director with immediate effect. Mr Yeow is an independent non-ex-ecutive director of Bund Center Investment which has been listed on the Singapore Exchange since February 2010.
      314 words
    • Article
      Lock icon Retail investors more upbeat about markets but stay hesitant
      611 7  -  By Nikita Mathur mathurn@sph.com.sg Singapore DESPITE turning more confident about the overall investment market environment and global economy, Singapore retail investors are not about to rush into the markets in the next six months, according to a half-yearly survey of investor
      611 words
    • Article
      Lock icon Nam Cheong, Roxy-Pacific issue bonds totalling S$135m
      578 8  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore AS Greece struck a bailout deal and Chinese stock markets stabilised somewhat, liquidity continues to stay resilient in the local bond market with two deals worth S$135 million announced on Tuesday. Offshore support vessel builder Nam Cheong’s
      578 words
    • Article, Illustration
      Lock icon NauticAWT launches IPO for Catalist listing
      600 8  -  Oil gas engineering solutions provider seeks to raise net proceeds of S$2.8m to help fund expansion By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore OIL gas engineering solutions provider NauticAWT on Tuesday launched its initial public offering (IPO) for a Catalist listing to raise funds
      PHOTO: SHAWN TEO  -  600 words
    • Article
      Lock icon Hard to find silver lining for EM currencies: Bank of Singapore report
      357 8  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore LOWER carry cost and the battle against “lowflation” will fuel further weakness in the Singapore dollar (SGD) as well as the Korean won (KRW) and New Taiwan dollar (TWD), said Bank of
      357 words
    • CORPORATE DIGEST
      • Article
        Lock icon Soilbuild Reit
        79 9 SOILBUILD Business Space Reit recorded a distribution per unit (DPU) of 1.615 Singapore cents for the three months ended June 30, 7.7 per cent above the previous year’s Q2 DPU of 1.5 cents. DPU for the six months ended June was 3.248 cents, up 6.1 per cent. Net
        79 words
      • Article
        Lock icon Great Eastern Holdings
        96 9 GREAT Eastern Holdings Ltd’s subsidiary, The Great Eastern Life Assurance Company Ltd, has subscribed for an additional shares in LGlobal Funds for the aggregate subscription price of S$22.38 million or S$9.533 per share. LGlobal Funds, a subsidiary of the holdings, was incorporated in May 2011 to offer
        96 words
      • Article
        Lock icon Viva Industrial Trust
        75 9 VIVA industrial Trust has entered into an MOU with GKE warehousing Logistics to acquire 30 Pioneer Road. The Reit manager is currently evaluating the proposed acquisition, including exploring the various methods of financing the proposed acquisition. Meanwhile, GKE Warehousing said it intends to lease the property back
        75 words
    • Article, Illustration
      Lock icon Reit dividend growth outlook dismal: HSBC
      598 9  -  Senior property analyst cites adverse supply-and-demand factors across various property sub-segments By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THE growth of Reit dividends is expected to slow down in the coming few years due to the unfavourable supply-and-demand outlook across various property sub-segments: office, retail,
      Source: HSBC  -  598 words
    • Article
      Lock icon Lian Beng: IDs quit over computation of exec directors’ performance bonus
      471 9  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore THE resignation of the two independent directors from Lian Beng’s board was due to differences in opinion over the performance bonus for its executive directors, the firm said. The two directors Lian Beng’s
      471 words
    • Article
      Lock icon GIC invests US$42m in Brazil mall
      235 9  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore GIC, Singapore’s sovereign wealth fund, on Tuesday said it would pay US$41.89 million for a minority stake in a shopping mall controlled by Brazil’s Aliansce Shopping Centers SA. Under the deal terms, GIC took a 35 per cent
      235 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 10 STI Catalist Straits Times index July 14,2015 3,316.50 +5.28 (+0.16%) Current streak 3 days Day high 3,330.23 Day low 3,309.28 52-week high 3,539.95 (Apr 15, 2015) 52-week low 3,154.21 (Oct 16, 2014) FTSE ST Catalist index July 14,2015 635.86 +3.90 (+0.62%) Current streak 4 days Day high 636.07 Day low
      63 words
    • Article, Illustration
      Lock icon Stocks finish mixed in quiet trading
      655 10  -  ST Index surrenders most of its early gains, pending developments on the Greece front TT STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT WITH Greece on hold for now at least until the country’s Parliament sits on Wednesday to decide whether to accept the austerity demanded
      Source: Bloomberg  -  655 words
    • Article
      Lock icon LOSERS
      75 10 BY CENTS CLOSE DOWN 52w high/low DBXT MSKorea US$ 5292 -72.2 -1.0 6735/5285 DBXT ASX200 US$ 3553 -49.0 -1.0 4403/3530 Jardine C&C 3152 -48.0 -1.5 4599.4/2878 DBXT MSAsExJp US$ 3572 -45.0 -0.9 4064/3261 DBXT S&P Short US$ 2133 -38.1 -1.3 2497/2108 BY PERCENTAGE CLOSE DOWN 52w high/low CN*****MBeCW15 0.1
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    • Article
      Lock icon STI STOCKS
      308 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 248 +3 250/245 271 219 5.9 6275.4 CapitaLand 338 +1 341/337 379 293 12.4 2.7 *****.7 CapitaMall Trust 216 +2 219/213 228 188.5 5 7494.6 CityDev 990 +10 994/977 1095 915 11.9
      308 words
    • Article
      Lock icon MOST ACTIVE
      36 10 VOLUME New Silkroutes 118,502,100 Debao Property 73,836,200 Ezra 51,272,200 IHC 46,546,900 CEFC Intl 38,910,500 Market volume 1,392,872,000 VALUE Singtel 72,479,492 DBS Grp 71,575,005 Global Logistic 57,675,300 UOB 32,013,523 Keppel Corp 28,923,672 Market value 903,605,000
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    • Article
      Lock icon SGX ETFs Most Active
      110 10 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS INDIA US$ US760 +2 576 771/755 1000/696 755/760 95 Nikko AM STI ETF 339 +2 572 339/337 422/324 338/340 8.2 STI ETF 338 +1 315 338/336 355/319 337/338 UETF SSE50China 270 -9 294 279/269
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 10 Jul 14 VALUE CLOSE BT OB/OS -483.00 -73.00 BT CADI -*****.00 -1.00 BT 10-day MA -*****.00 -49.00 FTSE ST Mid Cap 751.26 +1.12 FTSE ST Small Cap 467.00 +0.20 FTSE ST All Share 793.92 +1.20 FTSE ST China Top 195.55 +0.90 FTSE ST China 236.55 +1.28 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 14,2015 793.92 +1.20 (+0.15%) Current streak 3 days Day high 796.85 Day low 793.01 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 10 STI MSCI EAFE msci eafe index July 13,2015 1,862.96 +11.02 (+0.60%) Current streak 3 days Day high 1,874.94 Day low 1,852.83 52-week high 1,969.28 (July 24, 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 9 6 1 0 0 0 9 6 1 Manufacturing 41 49 33 7 10 11 48 59 44 Commerce 17 19 15 4 5 3 21 24 18 Tpt/Stor/Comms 14 16 7
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 19,341 19,341 54,290 54,290 Manufacturing 117,562 56,952 174,514 73,814 2,107 75,921 Commerce 225,130 37,541 262,671 59,047 1,656 60,703 Tpt/Stor/Comms 147,824 13,933 161,757 157,166 1,349 158,515 Finance 12,883 80 12,963 153,634 21 153,655 Construction 36,112 8,058
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    • Article
      Lock icon GAINERS
      78 10 BY CENTS CLOSE UP 52w high/low IS S&P500 US$ ***** 418.2 1.5 *****/***** Lyxor AsiaCS US$ 6206 321.5 4.0 6360/5889 DBXT Vietnam US$ 2776 69.5 1.9 3100/2250 DBXT MSJAP US$ 5109 68.1 1.0 5277/4291 DBXT MSEurope US$ 5982 55.9 0.7 6300/5366 BY PERCENTAGE CLOSE UP 52w high/low FalconEne W*****8
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    • Article
      Lock icon UNUSUAL ACTIVITY
      80 10 VOL CLOSE($) CHANGE AP Oil 3,501.1 0.300 +0.050 +20.00 New Silkroutes 118,502.1 0.002 +0.001 +100.00 HuanHsin 841.1 0.040 +0.010 +33.33 Annica 2,873.0 0.003 +0.001 +50.00 AnnAik 71.7 0.100 +0.020 +25.00 China Intl 148.5 0.017 -0.013 -43.33 Mencast 114.7 0.290 -0.070 -19.44 Renewable Energy 487.5 0.020 -0.002 -9.09 LifeBrandz
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    • BROKERS’ TAKE
      • Article
        Lock icon IPS Securex Holdings
        199 10 Buy July 14 close: S$0.91 Target price: S$1.01 RHB Research, July 14 AIRPORTS of Thailand has outlined plans to complete expansion and development works across all of its six airports within the next two years. We expect IPS Securex (IPS) to participate in tenders for supplying the
        199 words
      • Article
        Lock icon Tiger Airways Holdings
        238 10  -  Compiled by Chan Yi Wen Buy July 14 close: S$0.31 Target price: S$0.42 DBS Group Research, July 14 WE reiterate our view that Tigerair is poised to see its earnings recover firmly this year, driven by higher yields on capacity discipline, and lower jet fuel costs. Having
        238 words
    • Article
      Lock icon CALENDAR
      42 10 DATA I 1pm (July 15 Singapore Retail Sales Index I 8.30 am (July 15) Singapore Non-oil Domestic Exports I 3am (July 15) US Federal Reserve Beige Book I 8pm (July 15) US MBA Mortgage Applications I 10am (July 15) China GDP
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    • Article
      Lock icon Euro rebounds but it’s still near 6-week lows
      402 11 CURRENCIES London THE euro recovered a touch against the dollar on Tuesday but was still close to six-week lows, having fallen sharply the previous day after Greece and its creditors agreed to work on a bailout deal to keep the almost-bank-rupt country
      402 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 11 Jul 14 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.950 4.612 0.675 5.758 47.153 99.120 0.917 8.488 2.828 1.111 75.556 33.572 1.012 9.258 0.704 23.074 25.291 0.480 0.743 Canada 1.052 4.853
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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 14 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0115 1.0120 0.7426 0.7429 Canadian dollar 1.0645 1.0650 0.7818 0.7815 Euro 1.4979 1.4984 1.0997 1.1000 NZ dollar 0.9102 0.9109 0.6682 0.6687 Sterling pound 2.1065 2.1071 1.5465 1.5468
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 11 Jul 14 S$ Bid Offer 1-month 1.3628 1.3632 2-months 1.3636 1.3641 3-months 1.3641 1.3647 6-months 1.3659 1.3666 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES Most active
        204 11 Jul 14 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 3657 1 0 1 FTSEChinaA50 ***** MBeCW*****9 12.3 -2.8 3409 0.0 --2 Rowsley Ltd W*****3 2.4 unch 2423 1 18 15
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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 13 Index Change Change Change Change Change Change World Preliminary 1338.4 1.1 4.9 1.4 5.3 0.8 2.8 EAFE Preliminary 1082.6 1.4 9.7 1.2 7.6 0.6 5.0 Europe Preliminary 1515.3 1.4 9.7
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        395 11 Jul 14 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.36 *****.36 *****.27 Jul15 *****.00 *****.00 *****.50 *****.00 *****7 *****4 Aug15 *****.50 *****.50 *****.50 *****.00 6759 ***** NIKKEI 225 INDEX FUTURES SPOT *****.33 *****.53 *****.20 Sep15 *****.00 *****.00 *****.00 *****.00 ***** *****5 Dec15
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    • BANK RATES
      • Article
        Lock icon SIBOR
        36 11 Jul 14 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 14 $S Offer Bid 0vernight 0.08 0.05 1-month 0.6875 0.5625 2-months 0.75 0.625 3-months 0.8125 0.6875 Overnight mode: 0.05 US$ Offer Bid 7 days 0.22 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 14 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.65 102.70 102.70 5-Year N*****0S 2.000 01-Jul-20 100.24 100.40 100.20 10-Year NX*****Z 2.375 01-Jun-25 97.81 97.80 97.60 15-Year NY*****E 2.875 01-Jul-29 99.99 100.15 99.97 20-Year NZ*****V 3.375 01-Sep-33 105.06
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        246 11 Jul-13 Price Net change change Last Trade Agricultural Jul-13 CBOT Soybeans (US cents/bu) 1045.25 1.75 0.17% 14/07/2015 CBOT Soybean Oil (US cents/lb) 32.65 0.34 1.05% 14/07/2015 CBOT Wheat (US cents/bu) 586.75 5.25 0.90% 14/07/2014 Jul-13 LIFFE Cocoa (£/tonne) 2182.00 -2.00 -0.09% 16/07/2015 LIFFE Coffee (US$/tonne) 1864.00 14.00 0.76%
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      Lock icon Page 7 Advertisements Column 1
      93 7 SMU SINGAPORE MANAGEMENT UNIVERSITY JONES DAY Professorship of Commercial law Lecture Company Law and Contractual Freedom Speaker Professor Ellis Ferrari Jones Day Professor of Commercial Law Commentary Michelle Chen Partner, Jones Day Singapore Monday, 24 August 2015 5.00pm to 6.30pm (Registration starts at 4.30pm) Venue Singapore Management University Mochtar Riady
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      1688 9 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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      309 9 InvestorRelationsHighlights EMAS Offshore Gained Win Momentum With Three Contract Awards Worth US$24 Million EMAS Offshore Limited, an established offshore services provider offering offshore support, accommodation, construction and production services to the oil and gas industry, announced that it has secured three new awards for charters with oil majors in West
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  • REAL ESTATE
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      31 12 PAYA UBI INDUSTRIAL PARK $1.50psf $350psf ONWARDS 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
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      Lock icon Mobius stepping down as chief of Templeton fund
      494 14 Hardenberg to take over from Oct 1; Mobius to stay as chairman of Templeton Emerging Markets Group BLOOMBERG New York MARK Mobius, who is credited as a pioneer in emerging-market investing, will step down as the lead manager of one of the
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      Lock icon S&P halves its global sukuk sales forecast
      408 14 BLOOMBERG Kuala Lumpur MALAYSIA is cutting sales of Syariahcompliant bills in the world’s biggest Islamic debt market, prompting Standard Poor’s (S&P) to halve its forecast for global sukuk issuance. Bank Negara Malaysia (BNM) hasn’t sold any Islamic securities due in three to 12
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      1526 14 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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      1323 14 Company Registration No: *****6466G Notice of Annual General Meeting NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Company will be held at Connection 2, Level 3, Amara Hotel, 165 Tanjong Pagar Road, Singapore *****9, on Thursday, 30 July 2015 at 10.00 a.m., to transact the following businesses:AS
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  • ENERGY & COMMODITIES
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      Lock icon Thai Oil burns bright amid slim China pickings
      612 15 Investors warm to state-run company’s first dollardenominated offering BLOOMBERG Singapore THE debt of a state-run oil company faced with falling prices and a sluggish economy since a military coup may not sound appealing. Yet investors are showing interest as Thai Oil Pcl
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      Lock icon Vietnam coffee growers hoarding most beans in 5 yrs
      376 15 BLOOMBERG Hanoi COFFEE growers in Vietnam are storing the most beans in at least five years as they bet the biggest surge in prices in 16 months has further to run. Farmers held 28 per cent of the crop in the
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  • TECHNOLOGY
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      Lock icon Facebook sets speed record for breaching US$250b market cap
      390 16 BLOOMBERG New York IT SEEMS like just yesterday that Facebook went public. Now its market value has topped US$250 billion. The social network company’s 2.4 per cent climb to a record close on Monday made it the first company in the
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      Lock icon China chip maker prepares US$23b bid for Micron: WSJ
      727 16 The company, controlled by Tsinghua University in Beijing, has struck many international deals in recent past REUTERS Beijing STATE-backed Chinese technology conglomerate Tsinghua Unigroup Ltd is preparing a US$23 billion bid for US memory chip maker Micron Technology Inc, The Wall
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      Lock icon Microsoft plans celebratory debut of Windows 10
      268 16 AFP San Francisco MICROSOFT has announced plans for a celebratory debut this month of Windows 10 operating software designed to spread the US software titan’s offerings across a broad range of devices. Word that Windows 10 would be welcomed in grand style came
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  • CONSUMER
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      Lock icon Use painkillers sparingly, US doctors urge
      611 17 Growing evidence that they increase the risk of heart attack, stroke and heart failure NYT New York THE US Food and Drug Administration warned last week that the risk of heart attack and stroke from widely used painkillers that include Motrin IB, Aleve and
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  • GOVERNMENT & ECONOMY
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      Lock icon June retail sales dip dampens consumer spending optimism
      713 18 Purchases down 0.3 per cent. Eight of 13 major retail categories show declines in demand LATEST US DATA BLOOMBERG Washington SALES at US retailers unexpectedly dropped in June, upending optimism about the strength of the rebound in consumer spending during the second
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      Lock icon Varoufakis says he quit because he felt marginalised
      541 18 GREEK DEBT CRISIS AFP Athens YANIS Varoufakis said in an interview about the reasons for his surprise resignation as Greek finance minister that whenever he tried “to engage in economic arguments” with his eurozone colleagues, all he got was “blank stares”. “You
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      Lock icon Greek banks in need of a bailout too
      921 18 NYT Frankfurt EUROZONE leaders acknowledged on Monday what has become increasingly obvious to everyday Athenians: Greek banks need a bailout, too. Among its many proposed measures, the new accord between Greece and its European creditors calls for an overhaul of Greece’s rickety
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      Lock icon Europe fails to shake off deflation threat
      561 18 REUTERS London EUROPE is failing to shake off the threat of deflation, with prices falling in Sweden, flat-lining in Britain and barely registering any increase in Germany and Italy. Data on Tuesday underlined that central banks across the continent are making little headway
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      Lock icon China forecast to tip world into recession
      627 23 China’s continued slowdown may drag global growth below 2%, says Morgan Stanley executive BLOOMBERG New York FORGET about all the shoes, toys and other exports. China may soon have another thing to offer the world: a recession. That is the prediction from Ruchir
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      Lock icon Indonesia holds rate steady to prop falling rupiah
      486 23 BLOOMBERG REUTERS Jakarta INDONESIA’S central bank kept its main interest rate unchanged for a fifth month, refraining from monetary easing that could further weaken one of Asia’s worst-performing currencies. Governor Agus Martowardojo and his board held the reference rate at 7.5 per
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      Lock icon India wholesale prices fall for 8 straight months
      231 23 AFP Mumbai INDIA’S wholesale inflation rate fell for an eighth consecutive month in June, government data showed on Tuesday, pulled down by weak global oil prices and above average early monsoon rains. Inflation based on the Wholesale Price Index (WPI), an indicator
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      Lock icon UK inflation slips back to zero in June
      351 23 REUTERS London BRITISH inflation edged back towards its lowest rate in more than half a century in June, as food and summer clothing fell in price, official figures showed on Tuesday. Poleaxed by the after-effects of a slump in oil prices in
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      535 18 THE BUSINESS TIMES NOTICES IN THE MATTER OF THE COMPANIES ACT. CAP. 50 AND IN THE MATTER OF ONCflRD PTE. LTD. (In Members’ Voluntary Liquidation) Reg No. *****2262E NOTICE OF RESOLUTIONS At an Extraordinary General Meeting oftheabovenamed Company duly convened and held at 141 Cecil Street #05-02 Tung Ann Association
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      74 19 NOTICES TOLL FREE 18 0 0-289-8822 I Email n o t i c e s s p h c o m s g I www.sphclass.com.sg/notices Beef Up Your Finances Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your IPOs other offerings Brand Your Assets Call 1800 289 8822 or
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      3658 20 GP BATTERIES INTERNATIONAL LIMITED (Company Registration No.: *****2111N) (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of GP Batteries International Limited (the “Company”) will be held at Marina Mandarin Singapore, Taurus Ballroom, Level 1,6 Raffles Boulevard, Marina Square,
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      986 21 Survey: meal deliveryservice is the most popular business start-up choice for China's university graduates To subscribe, call 6388-3838 or go to sphsubscription.com.sg NOTICES GREATRONIC LIMITED Company Registration No. *****0621N (The “Company”) Incorporated in the Republic of Singapore NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General
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      3335 21 FABCHEM CHINA LIMITED (Incorporated in the Republic of Singapore on 12 October 2004) (Company Registration Number: *****3128G) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the Annual General Meeting of FABCHEM CHINA LIMITED will be held at 2 Bukit Merah Central, Level 1 Drucker/Juran Boardroom, Singapore *****5 on
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      4142 22 Wednesday, July 15, NOTICES TOLL FREE 18 0 0-289-8822 I Email n o t i c e s s p h c o m s g I www.sphclass.com.sg/notices GP Industries Limited (Incorporated in the Republic of Singapore) Co. Reg. No. *****2128C Notice of Annual General Meeting NOTICE IS HEREBY GIVEN
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  • TRANSPORT
    • Article
      Lock icon London shipping week draws more interest
      652 24  -  Singapore Transport Minister Lui Tuck Yew to speak at main LISW15 Conference on Sept 10 TTSTRAIT TALK BY DAVID HUGHES YET again, this year’s Singapore Shipping Week, some three months ago now, was an outstanding success. Focusing many activities into a short space of
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    • Article
      Lock icon Uber out of the running to buy Nokia mapping unit: sources
      594 24 NYT New York UBER has made no secret of its global ambitions. The company’s plans, however, will not include the multi-billion dollar purchase of Here, the main competitor to Google Maps. Uber, the ride-hailing service, is now out of
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      Lock icon FedEx to buy 25 Boeing 767 cargo jets, say sources
      275 24 Chicago FEDEX Corp, the only current commercial customer for Boeing Co’s 767 cargo jet, is in talks to acquire at least 25 more of the twin-engine freighters, two people familiar with the matter have said. The shipping company’s directors met
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      Lock icon Japan carmakers sticking to Indonesia sales targets
      517 24 Jakarta JAPANESE carmakers are sticking to their targets in Indonesia in defiance of the longest sales decline in six years, resorting to steep discounts to entice tight-spending consumers into showrooms that remain stubbornly empty. Honda Motor Co Ltd, Nissan Motor Co Ltd and
      517 words
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      Lock icon US carmakers’ wage talks with union start on high note
      847 24 NYT New York WHEN US carmakers negotiated their existing contract with the United Auto Workers union four years ago, the domestic car industry was just recovering from a deep recession. But conditions have vastly improved since then. US sales are
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    1789 25 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 PG PKL KK JKT SUR SEA CORAL 71 60 25/7 26/7 28/7 31/7 2/8 POSITIVE STAR 108 100
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      106 25 Experienced ship maintenance services wanted. Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT 9620 1327 1HE BUSINESS TIMES SHIPPING TIMES Make A Splash In The Maritime World Via s^3maritime.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 Greek debt deja vu looming in Puerto Rico
      524 26 EDITORIAL PUERTO Rico’s Governor Alejandro Garcia Padilla admitted earlier this month that the Caribbean island’s US$72 billion debt “is not payable”. The announcement coming at the same time that Greece’s looming bankruptcy has been the focus of global media attention led some
      524 words
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      Lock icon The laziness dogma
      841 26  -  THE BOTTOM LINE By Paul Krugman NYT AMERICANS work longer hours than their counterparts in just about every other wealthy country; we are known, among those who study such things, as the “no-vaca-tion nation”. According to a 2009 study, full-time US workers put in almost 30 per
      NYT  -  841 words
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      Lock icon Challenges for new SGX CEO to boldly tackle
      1744 26  -  If he chooses to do so, Loh Boon Chye can radically transform the local bourse and take it to great heights. BY DAVID GERALD BY DAVID GERALD T The writer is president and CEO of Securities investors Association (Singapore) or sias MUCH
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      Lock icon Worst-case outcomes still possible after marathon Greek talks
      976 27  -  COMMENTARY By David Marsh T The writer is managing director of the Official Monetary and Financial institutions Forum THE fissures exposed between, and within, the warring groups of euro area debtors and creditors are the widest and deepest in the last 5½
      976 words
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      Lock icon Market intelligence delays can cost companies dearly
      809 27  -  By Kim Khoo, Murali Dharan T The writers are, respectively, vice-president, Advisory, and executive trainer, at M-Brain, a global information, technology and consulting services company CLOSE to one-third (31 per cent) of business managers in Singapore admit to experiencing delays in decision-making due
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      Lock icon Grexit averted for now, but Greece faces political woes
      1094 27  -  At a time when the need for political stability is paramount to promote economic recovery in the country, government infighting may prevent this from happening.BY ANDREW HAMMOND happening.BY ANDREW HAMMOND T The writer is an associate at LSE IDEAS (the Centre
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  • LIFE & CULTURE
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      42 28 W O M E N P R E N E U R S Four women who started their own business share the secret of their success with tabla! GET YOUR COPY TOMORROW TO ADVERTISE: CALL SHAN (*****861) KALWANT (*****327) OR NISHAL (*****438)
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  • Page 28 Miscellaneous
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      360 28 CRYPTIC CROSSWORD Across 1 Dog about to get spirited? Fat cats may enjoy that! (10) 6 Something deceitful in this campaign (4) 10 Starts making things in the bakery (5) 11 Something supplied for eyesight (9) 12 Power when weapon gives means to enter camp? (8) 13 Anxiety when head’s
      360 words
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      581 29 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
    • Article, Illustration
      Lock icon Hedge funds reassess China after market rout
      1438 30 For those foreign investors who got in early, the run-up in share prices in China was remarkable. But there were signs of a bubble early on NYT IT wasn’t long ago that hedge funds were preparing for one of the biggest openings into
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      Lock icon New ETFs evolving, but investors slow to warm to them
      1106 30 NYT New York WITH the growing popularity of exchange-traded funds, the industry is churning out new products targeted at investors’ needs, fears and greed. Many of these innovations are simply being ignored, and although it is still too early to
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      Lock icon Global mutual funds sell more of Singapore stocks
      481 29 ON THE RADAR GLOBAL mutual funds turned bearish on Singapore stocks, selling more shares than they bought in the three months to July 8. Based on transactions in the top five stocks, net sells of S$805.7 outweighed net buys of S$613.3. This
      481 words
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      Lock icon Infamous Japan activist makes comeback
      706 29 Now, Murakami is piling pressure on companies together with his daughter BLOOMBERG YOSHIAKI Murakami, Japan’s most famous activist shareholder before he was convicted of insider trading in 2007, is once again pressing the nation’s companies and this time it’s a family act. Mr Murakami and
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  • THE BUSINESS TIMES CEO CONVERSATIONS 2015 GOLDEN JUBILEE EDITION
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      Lock icon Building the economy
      464 1  -  Singapore’s strong manufacturing base enabled the country to industrialise rapidly as well as lead to the growth of other related businesses BY LEE U-WEN N THE early 1960s, Singapore had only a small manufacturing base with very mediocre infrastructure, minimal domestic capital and scant foreign investment. Post-independence,
      464 words
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      Lock icon The art of work
      1058 2 Eddy Lim, managing director of office interior designer Chez Design, adorns the office walls of his clients with his paintings IN SOME corporate offices in Singapore are framed paintings of Singapore watercolour portraits of the old Fullerton Hotel in an asset management firm, and oil paintings
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      Lock icon A dream to hit 10,000
      1078 3 ERA has kept itself busy training staff and reading the market for the next big shift DESPITE being saddled with weak property market sentiments, Singapore’s largest property agency ERA has kept itself busy, generating activities to stimulate sales and indeed, expanding its workforce. In both
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      Lock icon Surpassing expectations
      921 4 The Hatten Group of Companies has big plans which include a potential listing within the next few years THERE’S nothing like taking a good look and checking out a property investment before you put any money down, contends Colin Tan June Teng. The group managing director of the
      921 words
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      Lock icon Growing with the nation
      794 5 Property agency OrangeTee has built up a reputation for trust and innovation in a competitive market FOR OrangeTee managing director Steven Tan, Singapore’s amazing progress over the last 50 years holds some valuable lessons for the real estate industry. Launched in 2000, homegrown OrangeTee is one
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      Lock icon The economic miracle
      1014 6 / 7 ‘Core to the value system of DBS has always been our strong sense of purpose; a social agenda and consciousness. This is deeply rooted in our DNA, being a part of Singapore’s history and playing a role in its transformation into one of the world’s top financial
      1,014 words
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      Lock icon Shaping S’pore into a smarter nation
      1259 8 Schneider Electric wants to help Singapore become a more liveable city by improving its infrastructure WHETHER it’s the Singapore Sports Hub, Changi Airport or Esplanade Theatres on the Bay, Schneider Electric has played a key role in ensuring that things run smoothly at several
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      Lock icon Transforming dentistry through branding
      1083 9 A pioneer in the use of advertising in the local dentistry sector, Smile Inc now plans to expand its footprint overseas A VISIT to the dentist is often synonymous with pain and avoided at all costs by most. But this is an experience that Smile Inc
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      Lock icon Riding on a wave of urbanisation
      861 10 Even as it spreads its wings abroad, Tat Hong Holdings continues to contribute to the development of Singapore’s infrastructure AFTER almost 60 years of growth, heavy equipment supplier Tat Hong Holdings is restructuring its business to capitalise on a new wave of infrastructure development
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      Lock icon Adapting to the environment
      1025 11 Vibrant Group has expanded from its core freight forwarding and logistics business into complementary property and financial services arms BE IT garments and electronics in the 1980s or TVs and disk drives in the 1990s, Vibrant Group’s warehouses have serviced the needs of a growing nation.
      PHOTO: JOSEPH NAIR  -  1,025 words
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      256 1 inside The art of work 2 A dream to hit 10,000 3 Surpassing expectations 4 Growing with the nation 5 The economic miracle 6-7 Shaping Singapore into a smarter nation 8 Transforming dentistry through branding 9 Riding on a wave of urbanisation 10 Adapting to the environment 11 SG 50
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      99 3 ERA REAL ESTATE Services For YOU Our Valued Partners 7 Source: CEA Public Register July 2015 Auction Sales Valuation Advisory Commercial Industrial Project Sales Commercial Industrial Sales Leasing Private Residential Sales Leasing HDB Residential Sales Leasing Residential Project Sales International Property Sales Investment Sales Management Property Management jl ERA Realty
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      59 4 Building Tomorrow lO > FORT O PPORTUNITY N ETWORK NNOVATION L OM STAINABILITY AN ICONIC BUILDER IN MIXED DEVELOPMENT 4 tf* m f 73 dm > Mr 3 .4 ‘r*- HATTEN GROUP HATTEN GROUP SDN BHD (*****1-P) T:+606 282 1828 I F:+606 283 1827 I E: info@hattengrp.com I W: www.hattengrp.com
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      85 5 OrangeTee. Keener Sense of Real Estate y Rejoicing 9. 9 III I II O'. o 0 LJ*\> o v i r-^ r i r i €> to' of growth with the Nation. OrangeTee believes in creating a better environment for people. A safe place cultivated from trust and commitment, as
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      87 8 B r..v “i S3: X, m ■u*BS '■53 suit i ■V R3s n j :s I 9 Download the first paper in our series on the cornerstones of a Smart City and discover how we need to look at cities differently. Alternatively please visit www.sereply.com with Key Code *****M. Schneider
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      305 9 2014 OVERALL WINNER WINNER SINGAPORE PRESTIGE BRAND AWARD (ESTABLISHED BRANDS) 2010,2011,2012,2013, 2014 AN ASME-LIANHE ZAOBAO AWARD Singapore Prestige Brand Award 14 WINNER WINNER WINNER WINNER SPIRIT OF ENTERPRISE 2009 5 SME 1 ASIA AWARDS (DISTINGUISHED CATEGORY) 2011 ASIA PACIFIC ENTREPRENEURSHIP AWARDS 2012 SMEl ASIA AWARDS 2011 APEAl 2012 TOTAL DEFENCE
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      253 10 TAT HONG One of the World's Largest Crane Rental Companies w. N \f ‘f m -C VM W. PP a m 4 v 4* tg’-i ■T; i V~! KIB 4 f 82 Ubi Avenue 4 #05-01 Edward Boustead Centre Singapore *****2 I i\ I i\ Ubii 'I I 0! m
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      177 11 Listed on SGX-ST in 1995, Vibrant Group Limited (formally known as Freight Links Express Holdings Limited) is a leading logistics, real estate and financial services group headquartered in Singapore. It offers a comprehensive range of integrated logistics services including international freight forwarding, chemical storage and logistics, warehousing distribution and record
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