The Business Times, 21 July 2015

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Microfilm: NL33561
Total Pages: 26
1 26 The Business Times
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  • Title Section
    Lock icon Masthead
    31 1 THE BUSINESS TIMES 2015 SOCIETY OF NEWS DESIGN EXCELLENCE AWARD■BEST IN OVERALL REDESIGN■ S$1.00 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 Tuesday, July 21,2015
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  • DAILY DIGEST
    • Article
      Lock icon China’s economy
      40 1 may be treading a “new normal” of slower growth but maintaining the targeted 7 per cent GDP growth over the long term is attainable, said Tung Chee Hwa, vice-chairman of China’s top political advisory body. TOP STORIES 2
      40 words
    • Article, Illustration
      Lock icon Gold prices
      30 1 plunged as much as 4 per cent to their lowest level in more than five years as sellers in top consumer China offloaded the metal. TOP STORIES 4
      30 words
    • Article
      Lock icon Rogue retailers
      32 1 can in future be slapped with personal injunctions, on top of injunctions against their shops or businesses, said Minister of State for Trade and Industry Teo Ser Luck.TOP STORIES 5
      32 words
    • Article
      Lock icon Keppel Reit’s DPU
      18 1 declined 9.5 per cent year-on-year to 1.72 Singapore cents in the second quarter.COMPANIES MARKETS 6
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    • Article
      Lock icon NOL shares
      27 1 surged to their highest level in almost seven weeks on talk last week of a potential sale of the loss-making shipping liner. COMPANIES MARKETS 8
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    • Article
      Lock icon Australia’s biggest lenders
      23 1 will have to set aside more capital against potential losses on home loans, said the banking regulator. BANKING FINANCE 15
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    • Article
      Lock icon Lockheed Martin Corp
      20 1 has agreed to buy United Technologies Corp’s Sikorsky Aircraft for over US$8 billion, two sources said. TRANSPORT/19
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    • Article
      Lock icon European investors
      36 1 are paying renewed attention to South-east Asia as the Greek crisis and China’s stockmarket rout encourage companies to look for cheaper and more stable markets, said the EU’s ambassador to Singapore. GOVT ECONOMY 20
      36 words
  • Article, Illustration
    Lock icon Singapore’s container port faces a productivity question
    1223 1  -  Fresh data puts it behind regional rivals, but analysts urge caution in interpreting the figures and offer reasons for Singapore’s apparent lag By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore SINGAPORE’S container port, among the busiest in the world and reputed to be one of
    BT Graphics, Source: PSA  -  1,223 words
  • Article
    Lock icon MARKETS
    26 1 Monday Change STI 3,373.48 +20.03 KL COMP 1,724.13 -2.60 NIKKEI 225 CLOSED HANG SENG 25,404.81 -10.46 SHENZHEN B 1,301.78 -4.60 DOW (11.45am EDT) 18,109.70 +23.25
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  • Article, Illustration
    Lock icon Europe markets continue to rise as Greek banks re-open
    695 1  -  By Neil Behrmann btworld@sph.com.sg London EUROPEAN stock markets continued their upward path on Monday after the European Central Bank’s (ECB) 900 million euro (S$1.34 billion) loan enabled Greek banks to open. Meanwhile, the country’s Syriza coalition government repaid 6.25 billion euros
    PHOTO: BLOOMBERG  -  695 words
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      Lock icon Page 1 Advertisements Column 1
      247 1 8"*****1 *****4 SET TO OVERTAKE US China on investment spree OPINION 22 AUSSIE INVESTOR’S FORAY 158 Cecil St being sold for S$240m REAL ESTATE 14 HEARTLAND JAVA JIVE Founders of Coffee Bandits take good coffee to outskirts of Singapore FUTURECHINA GLOBAL FORUM China’s Hony Capital keen to explore Reits listings
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  • TOP STORIES
    • Article, Illustration
      Lock icon China can maintain 7% growth: Tung Chee Hwa
      703 2  -  He cites growing consumption, urbanisation and new jobs in service sector FUTURECHINA GLOBAL FORUM By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore CHINA is treading a “new normal” of slower growth but maintaining that targeted 7 per cent GDP growth over the long term
      PHOTO: REUTERS  -  703 words
    • Article
      Lock icon China’s Hony Capital keen to explore Reits listings on SGX
      571 2  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore HONY CAPITAL, a major Chinese private equity firm that counts Temasek and GIC among its investors, is keen to explore ways to work with the Singapore Exchange (SGX) in securitisation products. Chief executive John
      571 words
    • Article
      Lock icon Singaporeans expect inflation to rise in medium and long term: survey
      465 2  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore SINGAPOREANS’ expectations of inflation in a quarterly poll has risen from three months ago, due to domestic price pressures and a tighter labour market. According to the June Singapore Index of Inflation Expectations
      465 words
    • Article, Illustration
      Lock icon Port shots
      308 4  -  Singapore is one of the world’s busiest ports, with a reputation of being one of the most efficient. Are its regional rivals overtaking it? The Business Times takes a hard look at the numbers. BT Infographics BY MELISSA TAN Berth productivity 2014 (containers moved per hour, per ship)
      Sources: OECD ITF, Drewry, Royal Haskoning BTGraphics: Melissa Tan, Simon Ang, Zack Go & Noordin Ayob  -  308 words
    • Article, Illustration
      Lock icon Gold prices dive 4% to five-year low
      702 4 Slide follows surge in China sales with record 3.3 million lots, or 33 tonnes, traded on key Shanghai physical contract REUTERS London GOLD prices plunged as much as 4 per cent to their lowest in more than five years on Monday as sellers
      REUTERS; PHOTO: BLOOMBERG  -  702 words
    • Article, Illustration
      Lock icon Plans to subject rogue retailers to personal injunctions
      626 5  -  Teo Ser Luck says proposed changes to Fair Trading Act part of scheduled review by MTI By Debbie Yong debyong@sph.com.sg @DebbieYongBT Singapore ROGUE retailers can in future be slapped with personal injunctions, on top of injunctions against their shops or businesses, said
      626 words
    • Article, Illustration
      Lock icon SPH in a strong position to tackle media challenges
      531 5  -  By Ong Hui Qun ohuiqun@sph.com.sg Singapore SINGAPORE Press Holdings (SPH) is in a strong position to tackle the changes that are re-shaping the media landscape, its chairman Lee Boon Yang said on Monday. Speaking at a ceremony to hand out SPH
      PHOTO: LAU FOOK KONG  -  531 words
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      Lock icon Page 2 Advertisements Column 1
      134 2 > k Does the UK Election Result mean boom or bust? Seminars by Senior Directors of London's oldest and most successful independent leasing company Date: Saturday, 25th July 1 st event: 1 pm 2nd event: 4pm Private meetings available Thurs 23rd to Sun 26th July BOOK NOW! Anita Mehra Marc
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  • Page 5 Advertisements
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      Lock icon Page 5 Advertisements Column 1
      95 5 YOU DON’T SHARE AN OFFICE BUT NEED TO FUNCTION AS ONE BRING I.T. ON With Telstra Cloud Collaboration No matter the distance, bring your team together to work seamlessly as one with Telstra’s Cloud Collaboration service. Gain access to a fully cloud-based suite of voice, instant messaging, web and video
      95 words
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  • COMPANIES & MARKETS
    • Article
      Lock icon Keppel Reit’s Q2 DPU down 9.5%
      706 6  -  Larger unit base; distributable income up 3% at S$54.8m By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore KEPPEL Reit marked a 9.5 per cent year-on-year drop in distribution per unit (DPU) to 1.72 Singapore cents in the second quarter ended June 30, 2015. But this was
      706 words
    • Article
      Lock icon Cache’s Q2 DPU down 0.3%
      402 6  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore CACHE Logistics Trust on Monday reported a 0.3 per cent dip in distribution per unit (DPU) to 2.14 Singapore cents for its second quarter ended June 30, 2015. This was due to a larger base of units compared to
      402 words
    • Article
      Lock icon M1 posts earnings of S$44.3m for Q2
      628 6  -  By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore M1 Ltd (M1) on Monday announced a net profit of S$44.3 million in the second quarter ended June 30, 2015, marginally higher than the S$43.9 million it reported one year ago. This came on the back
      628 words
    • Article
      Lock icon Charter extensions worth up to US$458m buoy Vallianz shares
      427 8  -  Stock closes 15.4% up at S$0.06 but price is still less than half of S$0.133 a year ago By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore BUYERS poured into shares of offshore vessel owner Vallianz Holdings on Monday following news that it had
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    • CORPORATE DIGEST
      • Article
        Lock icon Global Logistic Properties
        77 8 GLOBAL Logistic Properties has leased 475,000 square feet to a leading global retailer in Greater Chicago, United States, which will use the facilities to expand its distribution capabilities in Midwest US. “Customer demand for our Laraway Crossings asset has been very strong due to the right combination
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      • Article
        Lock icon ST Engineering
        117 8 SINGAPORE Technologies Engineering (ST Engineering) announced on Monday that its electronics arm secured S$424 million worth of contracts in the second quarter of this year. Among them were S$285 million worth of advanced electronics and infocomm technology contracts for projects from both the public and private sectors. These
        117 words
      • Article
        Lock icon HLH Group
        152 8 MAINBOARD-listed HLH Group's wholly owned subsidiary HLH Agriculture (Cambodia) Co has inked an agreement with Tidecom Technology Co, a China-based manufacturer of specialist equipment for food and agriculture products, to buy US$2.23 million worth of equipment to process cassava starch in Cambodia. The equipment will be used to
        152 words
      • Article
        Lock icon Stratech Group
        34 8 THE Stratech Group announced that it has received an in-principle approval from SGX for its application to be removed from the watch-list effective July 20. T For comprehensive coverage, go to www.businesstimes.com.sg
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    • Article, Illustration
      Lock icon NOL shares surge on talk of potential sale
      539 8  -  HOT STOCK By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore SHARES of Neptune Orient Lines (NOL) surged on Monday to their highest level in almost seven weeks on talk last week of a potential sale of the loss-making shipping liner. NOL shares jumped as
      Source: Bloomberg  -  539 words
    • Article
      Lock icon First Reit’s Q2 DPU rises 3.5%
      454 9  -  Trust says despite rupiah’s depreciation, it remains unaffected as its rentals in Indonesia are denominated in SGD By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore LIFTED by contributions from its new acquisitions and Indonesian and Singapore properties, First Real Estate Investment Trust’s (First Reit) distribution per
      454 words
    • Article, Illustration
      Lock icon ST Engineering chief on medical leave after mild stroke
      244 9 Singapore SINGAPORE Technologies Engineering’s (ST Engineering) president and chief executive Tan Pheng Hock is on medical leave of absence after suffering a mild stroke. In his absence, his executive duties and responsibilities are being covered by deputy chief executive Lee Fook
      244 words
    • Article
      Lock icon MLT’s DPU for Q1 dips 2.6% on higher property expenses
      418 9  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore MAPLETREE Logistics Trust’s (MLT) distribution per unit (DPU) for its first quarter dipped 2.6 per cent to 1.85 Singapore cents from a year ago, as increased property expenses chipped away at its total income.
      418 words
    • Article
      Lock icon Shrinking China trade likely to curb S’pore, HK banks’ profits
      312 9 BLOOMBERG Singapore THE business of financing China’s trade is shrinking, curbing what had been a fast-growing revenue stream for banks in Hong Kong and Singapore over the past decade. Since reaching a peak of about US$145 billion in June last
      BLOOMBERG  -  312 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 10 STI Catalist Straits Times Index July 20,2015 3,373.48 +20.03 (+0.60%) Current streak 6 days Day high 3,376.23 Day low 3,361.32 52-week high 3,539.95 (Apr 15, 2015) 52-week low 3,154.21 (Oct 16, 2014) FTSE ST Catalist index July 20,2015 652.64 +12.50 (+1.95%) Current streak 2 days Day high 652.64 Day low
      63 words
    • Article, Illustration
      Lock icon Penny stock CEFC’s rise draws attention
      690 10  -  Interest in other penny stocks also go up; the STI logs a 20.03-point rise as Grexit fears fade for the time being STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT MOST observers would look at movements in the Straits Times Index (STI) to gauge the state
      Source: Bloomberg  -  690 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 247 +4 248/244 271 219 5.9 6250.1 CapitaLand 346 +2 348/344 379 293 12.7 2.6 *****.6 CapitaMall Trust 215 unch 219/214 228 188.5 5 7459.9 CityDev 995 +9 996/991 1095 915 12
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    • Article
      Lock icon MOST ACTIVE
      36 10 VOLUME SinoConstruction 181,773,600 CEFC Intl 127,455,100 Vallianz 96,079,600 Foreland FabriT 74,820,400 New Silkroutes 58,781,100 Market volume 2,047,040,000 VALUE DBS Grp 70,892,567 Singtel 66,132,365 Global Logistic 62,655,074 OCBC Bank 52,276,625 SGX 44,122,367 Market value 1,087,741,000
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 10 Jul 20 VALUE CLOSE BT OB/OS -173.00 +195.00 BT CADI -*****.00 +106.00 BT 10-day MA -*****.00 -17.00 FTSE ST Mid Cap 756.87 +2.07 FTSE ST Small Cap 475.12 +4.43 FTSE ST All Share 806.37 +4.56 FTSE ST China Top 196.12 +0.95 FTSE ST China 238.01 +1.55 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 20,2015 806.37 +4.56 (+0.57%) Current streak 6 days Day high 806.37 Day low 803.89 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 17,2015 1,889.53 -4.46 (-0.24%) Current streak 1 day Day high 1,897.66 Day low 1,887.19 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 8 6 3 0 0 0 8 6 3 Manufacturing 53 36 36 13 7 12 66 43 48 Commerce 24 24 13 5 4 4 29 28 17 Tpt/Stor/Comms 17 15 9
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 12,487 12,487 50,450 50,450 Manufacturing 180,264 145,706 325,970 100,604 3,666 104,270 Commerce 262,630 126,226 388,856 73,304 6,961 80,265 Tpt/Stor/Comms 169,151 26,932 196,083 196,175 2,670 198,844 Finance 21,257 54 21,311 204,108 14 204,122 Construction 191,671 31,232
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    • Article
      Lock icon GAINERS
      79 10 BY CENTS CLOSE UP 52w high/low DBXT STGLDv US$ 3116 83.6 2.0 3528/3029 Lyxor Nasdaq US$ 1838 68.5 2.8 1838/1495 DBXT CSI300 US$ 1144 58.9 3.9 1471/646 JMH USD 5622 54.8 0.7 6788/5242 IS MS INDIA S$D 1060 54.0 5.4 1116/893 BY PERCENTAGE CLOSE UP 52w high/low Foreland FabriT
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    • Article
      Lock icon LOSERS
      78 10 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -376.6 -2.5 *****/***** Lyxor ThaiSET US$ ***** -258.9 -1.5 *****/***** DBXT MSKorea US$ 5262 -72.6 -1.0 6735/5262 DBXT Vietam US$ 2696 -52.0 -1.4 3100/2250 JSH USD 3199 -50.7 -1.1 3784/2987 BY PERCENTAGE CLOSE DOWN 52w high/low AliPictures HKD 100 -58.3
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    • Article
      Lock icon UNUSUAL ACTIVITY
      83 10 VOL CLOSE($) CHANGE Foreland FabriT 74,820.4 0.028 +0.015 +115.39 Net Pacific Fin 110.0 0.040 +0.016 +66.67 Great Group 882.3 0.027 -0.021 -43.75 CEFC Intl 127,455.1 0.180 +0.080 +80.00 Longcheer 13,463.2 0.114 +0.017 +17.53 Jasper Inv 2,337.2 0.006 +0.002 +50.00 E2-Capital 286.9 0.180 +0.040 +28.57 M Development 3,173.0 0.005
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    • BROKERS’ TAKE
      • Article
        Lock icon Frasers Commercial Trust
        223 10 Buy July 20 close: S$1.55 Target price: S$1.71 RHB Research Institute Singapore, July 16 We reinitiate coverage on Frasers Commercial Trust (FCOT) with “buy”. The real estate investment trust (Reit) is unique among its peers, being exposed to defensive subsectors such as Grade B office and high-specification
        223 words
      • Article
        Lock icon Singapore Airlines
        211 10  -  Compiled by Cai Haoxiang Hold July 20 close: S$11.73 Target price: S$12.40 Maybank Kim Eng Research, July 16 SIA’s Q1 2016 operating statistics were generally in line with our expectations with the exception of load factor, which was a touch bit lower. System traffic contracted by 0.9 per
        211 words
    • Article
      Lock icon SGX ETFs
      106 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS INDIA US$ US767 -1 601 774/765 1000/696 767/773 95.9 STI ETF 342 +1 235 343/339 355/319 341/343 UETF SSE50China 277 +4 124 283/276 340/144 276/277 86.6 DBXT MSAsExJp US$ US3572 97 -/-4064/3261 3591/3602 8.2
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    • Article
      Lock icon US$ firm in Asia with focus on Fed rate hike timing
      408 11 CURRENCIES AFP Singapore THE US dollar firmed in Asia on Monday with investors focusing on the timing of a US interest rate increase after debt-strapped Greece reached a bailout agreement with its creditors. The US dollar rose to 124.17
      AFP  -  408 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        470 11 Jul20 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.958 4.590 0.681 5.729 46.973 98.636 0.918 8.517 2.813 1.123 75.282 33.424 1.013 9.160 0.710 23.056 25.390 0.474 0.739 Canada 1.044 4.791 0.710
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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 20 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0120 1.0133 0.7389 0.7394 Canadian dollar 1.0565 1.0576 0.7717 0.7714 Euro 1.4874 1.4888 1.0860 1.0863 NZ dollar 0.9016 0.9025 0.6583 0.6585 Sterling pound 2.1371 2.1391 1.5604 1.5608
        155 words
      • Article
        Lock icon US$/S$ FORWARD RATES
        22 11 Jul 20 S$ Bid Offer 1-month 1.3709 1.3721 2-months 1.3717 1.3730 3-months 1.3723 1.3737 6-months 1.3730 1.3741 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        204 11 Jul 20 Most active Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left FTSEChinaA50 ***** MBeCW*****9 11.5 -0.4 ***** 0.0 --2 WE Holdings Ltd W*****5 0.1 unch ***** 1 0 1 Rowsley Ltd W*****3 2.8 0.4 5840 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 17 Index Change Change Change Change Change Change World Preliminary 1359.0 -0.1 6.5 -0.1 7.3 -0.2 4.1 EAFE Preliminary 1104.6 0.0 11.9 -0.2 9.8 -0.2 6.5 Europe Preliminary 1539.4 -0.2 11.4
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        386 11 Jul 20 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES SPOT *****.26 *****.45 *****.95 Jul15 *****.00 *****.50 *****.00 *****.00 *****6 *****2 Aug15 *****.00 *****.00 *****.50 *****.50 ***** ***** NIKKEI 225 INDEX FUTURES SPOT *****.63 *****.95 *****.22 Sep15 *****.00 *****.00 *****.00 *****.00 ***** *****3 Dec15
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 11 Jul 20 $S Offer Bid 0vernight 0.125 0.0625 1-month 0.6875 0.5625 2-months 0.75 0.625 3-months 0.8125 0.6875 Overnight mode: 0.125 US$ Offer Bid 7 days 0.22 0.12 1 month 0.23 0.13 2 months 0.28 0.18 3 months 0.40 0.20 6 months 0.60 0.40 9 months 0.80 0.60 12
        154 words
      • Article
        Lock icon SIBOR
        36 11 Jul 20 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 GOVERNMENT SECURITIES
        69 11 Jul 20 Jul 20 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.35 102.46 102.38 5-Year N*****0S 2.000 01-Jul-20 99.86 99.95 99.90 10-Year NX*****Z 2.375 01-Jun-25 97.31 97.80 97.30 15-Year NY*****E 2.875 01-Jul-29 99.36 99.95 99.55 20-Year NZ*****V 3.375
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 11 Jul-17 Price Net change change Last Trade Agricultural Jul-17 CBOT Soybeans (US cents/bu) 1014.75 -4.25 -0.42% 14/08/2015 CBOT Soybean Oil (US cents/lb) 31.78 0.32 1.02% 14/08/2015 CBOT Wheat (US cents/bu) 554.00 -8.25 -1.47% 14/09/2015 Jul-17 LIFFE Cocoa (£/tonne) 2217.00 -4.00 -0.18% 15/09/2015 LIFFE Coffee (US$/tonne) 1796.00 -40.00 -2.18%
        250 words
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      Lock icon Page 6 Advertisements Column 1
      124 6 SINCE IS o^ e xuvsvhxunvwvs i L r C tr CELEBRATING 170 Years Of The Straits Times If it mattered, it was in The Straits Times. For 170 years, The Straits Times has been telling the Singapore story with understanding, insight and authority. LIVING HISTORY: 170 YEARS OF THE STRAITS
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      1178 7 (a real estate investment trust constituted on 1 November 2013 under the laws of the Republic of Singapore) IREIT is the first SGX-ST listed real estate investment trust established with the investment strategy of principally investing, directly or indirectly, in a portfolio of income-producing real estate in Europe which is
      1,178 words
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      582 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.
      582 words
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      94 9 Reading has changed, but the need to I know stays the same, i mg. f ft K 0 y i w as V.v. 0 St N zi. A V x -A jn 7= i mr THE STRAITS TIMES new look, new ideas, same Singapore soul THE STRAITS TIMES THE STR
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      2396 12 A Special Feature Brought To You By FutureChina Global Forum Building Asia’s future with innovation and technology One of the world’s biggest construction companies, China’s Qingjian Group is a major player in the development of Asia’s infrastructure. BY DING HONGBIN to venture into the Design-Build-Sell Scheme (DBSS) of the public
      2,396 words
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      2491 13 A Special Feature Brought To You By FutureChina Global Forum Shaping a sustainable future Growing from strong relationships with China since the early 1980s, Keppel Group continues to contribute solutions to China’s needs in sustainable urbanisation with its distinct blend of core competencies. BY ONG YE KUNG THE development of
      2,491 words
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  • REAL ESTATE
    • Article, Illustration
      Lock icon 158 Cecil Street being sold for S$240m
      612 14  -  Alpha Investment Partners grants purchase option to a company linked to low-profile Singaporean Denis Jen, who owns malls in Australia By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore A COMPANY linked to low-profile investor Denis Jen, who owns shopping malls in Australia, is buying 158
      FILE PHOTO  -  612 words
    • Article, Illustration
      Lock icon HLH focuses on Cambodia market in bid to raise profits
      419 14  -  Group announces an agricultural equipment deal and a move into Cambodia’s residential housing sector By Ong Hui Qun ohuiqun@sph.com.sg Singapore AGRICULTURE and property company HLH Group will refocus its energies into expanding in Cambodia and scale down operations here, as
      PHOTO: ARTHUR LEE  -  419 words
    • Article
      Lock icon London home prices keep rising on strong demand
      310 14 BLOOMBERG London FIRST-TIME home buyers in London are getting more and more squeezed out of the market as prices soar while demand shows no sign of abating, according to a survey by Rightmove Plc. Asking prices for homes with no more than
      BLOOMBERG  -  310 words
    • Article
      Lock icon Echo wins Brisbane casino resort bid
      209 14 BLOOMBERG Sydney ECHO Entertainment Group Ltd won the right to develop a gambling resort in the centre of Brisbane, fending off competition from billionaire James Packer’s Crown Resorts Ltd which broke its Sydney casino monopoly two years ago. A consortium led by Echo and
      BLOOMBERG  -  209 words
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      123 14 FREEHOLD ENBLOC BUILDING IN DISTRICT 8 FOR SALE Land Area: 6,021 sq ft Strata Area: 16,243 sq ft Stable rental income with 100% occupancy 1st storey approval for food and beverage use Opposite Connexion and Farrer Park MRT station For Further Information, Please Call: ONG ZHEN HAO 9067 4796 CEA
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      88 14 SALE The Hills Are Alive Stunning Boutique Residence Morning light illuminating the hills in the distance. The trees casting a cool shade on the patio and private pool. This tasteful semi-detached in lush Pasir Panjang is the perfect family home, with 5 inviting storeys and even a lift for maximum
      88 words
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      168 14 SALE Living Like Raffles Isabel Redrup Heritage Series One of a kind conservation that foreigners can buy! A home that is eminently liveable, possessing all the character and charm of a bygone era, but with creature comforts like a pool and underground parking. Brightest corner unit with green surroundings, and
      168 words
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon Aussie banks told to boost mortgage capital
      768 15 The increase forms part of the regulators’ attempt to ensure the financial system can cope with any downturn in the rising housing market BLOOMBERG Sydney AUSTRALIA’S biggest lenders will have to set aside more capital against potential losses on home loans, the nation’s
      BLOOMBERG; PHOTOS: AFP  -  768 words
    • Article
      Lock icon Julius Baer still has cash to make purchases after settling tax probe
      759 15 BLOOMBERG Geneva JULIUS Baer Group Ltd should have cash to purchase rivals even as it prepares to settle a four-year probe into tax evasion by the US Justice Department. Switzerland’s third-largest wealth manager said last month it set
      BLOOMBERG  -  759 words
    • Article
      Lock icon No new target for job cuts at Barclays: sources
      379 15 REUTERS Bengaluru, India BARCLAYS has set no new targets to cut jobs beyond the 19,000 redundancies which it announced in May last year, sources familiar with the matter said on Monday, playing down a report of further reductions. The Times newspaper
      REUTERS  -  379 words
    • Article
      Lock icon Regulatory changes in Asia pose challenges for global banks
      368 15 BLOOMBERG Hong Kong GLOBAL investment banks will find it more costly to unlock wealth in Asia as regulatory changes make accessing domestic markets tougher, according to management consultancy Oliver Wyman. Taiwan’s Financial Supervisory Commission fined the local units of BNP Paribas
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  • ENERGY & COMMODITIES
    • Article
      Lock icon Lynas in supply talks with car, turbine makers to boost output
      480 16 Rare earths producer wants to reach full production at its Malaysia plant from current 75% capacity BLOOMBERG Melbourne LYNAS Corp, one of only two major rare earths producers outside China, is in supply talks with car and windturbine makers
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    • Article
      Lock icon China tops IMF list with US$5.3t in global energy subsidies
      278 16 BLOOMBERG Shanghai CHINA is the biggest contributor to global energy subsidies that the International Monetary Fund estimates at US$5.3 trillion, equivalent to 6.5 per cent of the world’s gross domestic product. China tops the list in dollar terms, the Ukraine
      BLOOMBERG  -  278 words
    • Article, Illustration
      Lock icon Hedge funds dump crude oil as Iran deal may prolong glut
      717 16 BLOOMBERG Houston SPECULATORS cut bullish bets on oil to the lowest level since March because an agreement over Iran’s nuclear programme threatens to prolong a global supply glut. Money managers reduced their net-long position in West Texas Intermediate (WTI)
      BLOOMBERG; PHOTO: BLOOMBERG  -  717 words
    • Article
      Lock icon Court issues arrest warrant for former mining mogul
      318 16 REUTERS Sydney AN Australian court issued an arrest warrant on Monday for former mining billionaire Nathan Tinkler after he failed to appear for questioning over the collapse of his thoroughbred racing and breeding business. Court officials said Mr Tinkler had been summoned
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    • Article
      Lock icon Statoil to leave trans-Adriatic gas pipeline project
      313 16 REUTERS Baku NORWAY’S Statoil is to sell its 20 per cent stake in the Trans Adriatic Gas Pipeline (TAP) project that will carry gas from Azerbaijan to Europe, the president of Azeri state energy firm Socar said. “Statoil has decided to leave the
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      201 16 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. “One does not go to see
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      176 16 OFFIC^XPO ASIA 2015 29-31 JULY 2015 Marina Bay Sands, Singapore Sands Expo Convention Centre Level 1, Hall A @BUY&WIN Simply visit Office Expo Asia from 29 31 July and make a purchase (no min. value) before 31 Dec 2015 r Pink Brilliante Eterno Worth $30,180 i 'J Stand a chance
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  • TECHNOLOGY
    • Article
      Lock icon Acronis to set up major R&D hub in Singapore
      779 17  -  It hopes to hire most of its researchers from local tertiary institutions By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore ACRONIS, which provides back-up, disaster recovery and other data protection services, will open a research and development (R&D) centre in Singapore. It
      779 words
    • Article, Illustration
      Lock icon No charge for Windows 10 upgrade
      1246 17 NYT Seattle NEXT week, when Microsoft releases Windows 10, the latest version of the company’s operating system, the software will offer a mix of the familiar and new to the people who run earlier versions of it on more than 1.5 billion computers and
      NYT; PHOTO: REUTERS  -  1,246 words
    • Article
      Lock icon Huawei’s H1 revenue up 30% at 175.9b yuan
      228 17 REUTERS Hong Kong HUAWEI Technologies Co Ltd, one of the world’s largest telecom equipment makers, on Monday posted a 30 per cent increase in first-half revenue to 175.9 billion yuan (S$38.9 billion) and said it would achieve “effective growth” in 2015. The
      REUTERS  -  228 words
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      1777 17 NOTICES IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF ASIMONT HOLDINGS PTE LTD (IN MEMBERS’ VOLUNTARY LIQUIDATION) COMPANY REGISTRATION NO. *****9247M NOTICE OF RESOLUTIONS NOTICE IS HEREBY GIVEN THAT AT AN EXTRAORDINARY GENERAL MEETING OF THE COMPANY DULY CONVENED AND HELD AT 54 TRAS
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  • CONSUMER
    • Article, Illustration
      Lock icon US shoppers using mobile devices in-store to browse, research
      1076 18 Despite surge in traffic to retailers’ websites from smartphones, customers still prefer to buy products in a physical store WP Washington GAMESTOP has no doubt that mobile devices have changed the way its customers shop. Smartphones and tablets now account for
      WP; PHOTO: BLOOMBERG  -  1,076 words
    • Article
      Lock icon M&S veteran closer to top job as he is moved to flagship division
      677 18 REUTERS London STEVE Rowe’s switch from running Marks Spencer’s food business to heading its general merchandise arm could make or break his chances of succeeding Marc Bolland as chief executive, arguably the most prestigious job in British
      REUTERS  -  677 words
    • Article, Illustration
      Lock icon Rare chicks go into hiding as bird flu hits Iowa
      306 18 REUTERS New York LESS than 24 hours after a deadly infection of bird flu was confirmed at a turkey farm north of Des Moines, Iowa, Bud Wood packed about 3,500 rare chicks into boxes and put them in a truck.
      REUTERS; PHOTO: REUTERS  -  306 words
  • Page 18 Advertisements
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      49 18 HOT PROPERTY F&B APPROVED! 2 sty shop Arab Street. $4.58M up. Area: 1666 sf. Land: 1105sf (exclude top gdn of 418 sf) 2-STY TANJONG PAGAR conserve shophouse. 1800sqft excellent location, very serious seller. SHOP SPACES FOR SALE Check out these properties and more in The Straits Times Classified now!
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      16 18 www.omy.sg ftimaitOT Kim soo Rim 0 E&,0 "Ready-to-Go SCAN WATCH NOW more @lifestyle.omy.sg Mi 1 1
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      15 18 Brand Your Assets Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your Financial Statements
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  • TRANSPORT
    • Article, Illustration
      Lock icon Lockheed to buy United Tech’s Sikorsky for over US$8b: sources
      861 19 Deal will add further heft to Lockheed, which already dwarves its nearest competitors REUTERS Washington LOCKHEED Martin Corp has agreed to buy United Technologies Corp’s (UTC) Sikorsky Aircraft for over US$8 billion, two sources said on Sunday, cementing a deal
      REUTERS; PHOTO: AFP  -  861 words
    • Article
      Lock icon CAG, Xiamen Airlines sign air services MOU
      441 19  -  They agree to grow transit, transfer traffic from S-E Asia to and from China By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore CHANGI Airport Group (CAG) and Chi-na-based Xiamen Airlines have inked a memorandum of understanding (MOU) to work together on boosting connectivity and passenger
      441 words
    • Article, Illustration
      Lock icon New Zealand drone makers target Hollywood
      631 19 REUTERS Raglan, New Zealand DEEP in New Zealand’s dairying heartland, drone maker Aeronavics tests aircraft designed to corner the fast-growing emerging market for unmanned aerial vehicles in the film and television business. The developer of drones used in the production of Dr Who and
      REUTERS; PHOTO: REUTERS  -  631 words
    • Article
      Lock icon Airbus plans to offer new version of A380 by 2025: CEO
      259 19 BLOOMBERG Toulouse FABRICE Bregier, the chief executive officer of Airbus Group SE’s airliner unit, said the planemaker plans to offer an improved version of its A380 for service by 2025 although no decision has been made on whether to
      BLOOMBERG  -  259 words
  • Page 19 Advertisements
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      1063 19 NOTICES FEDERAL INTERNATIONAL (2000) LTD (Company Registration No. *****7113K) (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (“EGM”) of Federal International (2000) Ltd (the “Company”) will be held on 5 August 2015 at 10.00 a.m. for the purpose
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  • GOVERNMENT & ECONOMY
    • Article
      Lock icon Germany eyes Iran business but Israel tops differences
      743 20 Other areas of disagreement highlighted by minister include human rights, women’s standing in society AFP Teheran A GERMAN delegation led a much-an-ticipated international push for new business in Iran on Monday, but a top official visiting Teheran put Israel at the top
      AFP  -  743 words
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      Lock icon US and Cuba end Cold War, restore ties, re-establish embassies
      641 20 AFP Washington THE Cuban flag was raised at the US State Department on Monday, in a historic gesture to mark renewed diplomatic ties between Havana and Washington as embassies were re-estab-lished in their respective capitals. Diplomatic relations officially resumed at
      AFP; PHOTO: AFP  -  641 words
    • Article, Illustration
      Lock icon EU envoy sees renewed investor interest in SEA
      617 20 European companies looking elsewhere after Greek crisis and China rout, he says BLOOMBERG Singapore EUROPEAN investors are paying renewed attention to South-east Asia as the Greek crisis and China’s stock market rout encourage companies to look for cheaper and more stable markets,
      BLOOMBERG  -  617 words
    • Article
      Lock icon Russia proving to be best BRICS bet this year
      763 20 BLOOMBERG London WHICH country would you invest in: a fast-growing economic powerhouse with a world-beating stock market or a tottering former superpower embroiled in a proxy war and heading for a recession? If at the start of 2015 you had chosen
      BLOOMBERG  -  763 words
    • Article
      Lock icon Fifa to hold election for Blatter’s replacement in Feb
      506 20 BLOOMBERG Rio de Janeiro FIFA, world soccer’s governing body, will hold an election to replace embattled president Joseph “Sepp” Blatter on Feb 26. The organisation made the announcement on Twitter. Mr Blatter, who took over in 1998, has promised to step
      BLOOMBERG  -  506 words
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  • Page 21 Advertisements
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      131 21 ORGANISED BY THE STRAITS TIMES AND ARTSCIENCE MUSEUM™ SINGAPORE ORIES THEN NOW TOMORROW 17 July 4 October 2015 FREE ADMISSION Independent Singapore’s first National Day Parade held at the Padang in 1966. Photo by The Straits Times. The crowd celebrating Singapore’s 46thBirthday at the Marina Bay Floating platform in 2011.
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  • OPINION
    • Article
      Lock icon US will need to reassure its Gulf Arab allies on Iran deal
      572 22 WHATEVER the spin doctors say, the road ahead for the nuclear agreement between the six world powers and Iran will be convoluted. EDITORIAL To begin with, there are several snags in the negotiated document itself. For instance, the
      572 words
    • Article, Illustration
      Lock icon Europe’s impossible dream
      833 22  -  THE BOTTOM LINE By Paul Krugman NYT THERE’S a bit of a lull in the news from Europe, but the underlying situation is as terrible as ever. Greece is experiencing a slump worse than the Great Depression, and nothing happening now offers hope of recovery. Spain has
      NYT  -  833 words
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      Lock icon China on an outbound investment spree
      1110 22  -  Country is set to overtake the United States as the world’s largest outbound direct investor in the next few years. BY CHOW WAN THONH BY CHOW WAN THONH T The writer is head of banking for Singapore and South-east Asia at HSBC CHINESE companies
      PHOTO: BLOOMBERG  -  1,110 words
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      Lock icon I’ve come full circle on the wisdom of a common currency
      1080 23  -  COMMENTARY By Anthony Rowley I HAVE changed my mind about the euro and no longer believe it is a concept to which all European nations should subscribe. So what, you may ask. My only claim to a hearing is
      1,080 words
    • LETTERS TO THE EDITOR
    • Article, Illustration
      Lock icon Could revolution follow Greek crisis?
      1115 23  -  The debt crisis has catalysed radical groups on both the right and left of the political spectrum. BY ANDREW HAMMOND spectrum.BY ANDREW HAMMOND T The writer is an associate at LSE IDEAS (the Centre for international Affairs, Diplomacy and Strategy) at the London School of
      PHOTO: REUTERS  -  1,115 words
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    970 24 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville APL Columbus V010E 23 May 06 Jun 22 Jun 26 Jun 29 Jun 01 Jul 03 Jul 06 Jul 08 Jul 10 Jul 10
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  • Page 24 Advertisements
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      184 24 USE THIS SPACE TO SELL CALL JOE WONG AT *****327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced $h/p maintenance services wanted. Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 i&i ,r Highlight Your Company Anniversary <
      184 words
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon 50 pianists working hard at playing in sync
      750 25  -  At the upcoming Sing50 concert, 50 pianists will play a selection of songs together, led by Lang Lang. The rehearsals have, however, been challenging, they say. BY HELMI YUSOF BY HELMI YUSOF TEN-year-old Bryzlyn Sin has flown in from Perth twice just
      PHOTO: HELMI YUSOF  -  750 words
    • Article, Illustration
      Lock icon Raising funds, creating entrepreneurs
      299 25  -  By Justine Moss Singapore NEXT week sees the staging of this year’s Spirit of Enterprise (SOE) Fundraising Golf Challenge 2015, an event that has raised around S$100,000 since the first was held in 2011. This year, its committee is hoping to add another S$ 130,000 to
      299 words
    • Article
      Lock icon Polish video game The Witcher enchants world
      623 25 AFP Warsaw POLAND’S new ambassador is a scar-faced hit man armed with two swords and potions against monsters and dragons. His name is Geralt, hero of a Polish role-playing video game bewitching the world. The Witcher is the brainchild of Warsaw-based CD Projekt
      AFP  -  623 words
    • Article
      Lock icon Quest by ‘rageful guy’ to pry out US government secrets
      756 25  -  By Ravi Somaiya NYT los Angeles WHEN reporter Jason Leopold, 45, gets ready to take on the United States government, he psychs himself up by listening to heavy metal bands Slayer and Pantera. Mr Leopold, who describes himself as “a
      NYT  -  756 words
  • Page 25 Miscellaneous
    • Miscellaneous
      Lock icon Page 25 Miscellaneous Column 1
      305 25 CRYPTIC CROSSWORD Across 7 A pitch then a strike turning in curve (8) 9 Start to seem worried and anxious (6) 10 Neck and part of cheek is snogged (4) 11 Put off by revolting material in set (10) 12 Flop, failing in amorous situation could occur initially ...(6) 14
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  • SME
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      Lock icon Let it roll
      1501 26  -  Founders of Coffee Bandits are committed to taking good coffee to the working people on the outskirts of Singapore. BY VIVIEN ANG BY VIVIEN ANG vivang@sph.com.sg NISSAN diesel trucks along the roads are a dime a dozen. However, if you happen to chance upon one that has
      PHOTO: ARTHUR LEE  -  1,501 words
    • Article
      Lock icon How to keep businesses fit for sale
      1077 26  -  COMMENTARY By Ng Siew Quan T The writer is an entrepreneurial private clients leader at PwC Singapore. MOST businesses are built up over their owners’ working careers and this represents years of hard work. Whether it is an owner’s aspiration to hand over
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  • Page 26 Advertisements
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      66 26 Build up your business with the Capability Development Grant 6 \v Start building today! Big and small businesses need to enhance their capabilities to compete and grow. SMEs can use SPRING Singapore’s Capability Development Grant to help them grow their business. Simplified application process for grant support of $30,000 and
      66 words