The Business Times, 7 October 2015

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Microfilm: NL33639
Total Pages: 30
1 30 The Business Times
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  • Title Section
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    34 1 THE BUSINESS TIMES 2015 SOCIETY OF NEWS DESIGN EXCELLENCE AWARD■BEST IN OVERALL REDESIGN■ S$1.00 q:h A SINGAPORE PRESS HOLDINGS PUBLICATION wvvw.businesstimes.com.sg U D @BTBreakingnews CO REGN NO ’l*****868E MCI (P) 039/08/2015 Wednesday, October 7,2015
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  • Article
    Lock icon MARKETS
    28 1 MARKETS Tuesday Change STI 2,897.41 +46.16 KL COMP 1,662.51 +14.92 NIKKEI 225 18,186.10 +180.61 HANG SENG 21,831.62 -22.88 SHENZHEN B Closed Closed DOW (11:15am EDT) 16,810.70 +34.27
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  • Article, Illustration
    Lock icon DAILY DIGEST
    229 1 with its special provisions for small and medium-sized enterprises, the Trans-Pacific Partnership agreement will boost the growth of smaller Singapore firms but only if they are well-versed in the terms of the accord, and capitalise on the new opportunities which arise, say observers. TOP STORIES 2 Singapore posts
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  • Article, Illustration
    Lock icon Despite optimism over historic TPP, doubts persist
    960 1  -  Deal still needs ratification, limited impact seen on Singapore in short run By Kelly Tay, Soon Weilun kellytay@sph.com.sg @KellyTayBT soonwl@sph.com.sg Singapore IT may have taken over five years of negotiations and has been as hailed as a historic accord, but in welcoming the
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  • Article
    Lock icon IMF says global economic growth remains elusive
    536 1  -  It trims 2015 projection to 3.1%; recovery in advanced economies expected to pick up slightly By Anthony Rowley btworld@sph.com.sg Lima, Peru THE International Monetary Fund (IMF) on Tuesday downgraded its forecast for global economic growth in 2015, saying that growth still remains “elusive”
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      84 1 8"*****1 *****4 EMERGING MARKET SELLOFF Multi-decade opportunity to buy cheap EXECUTIVE MONEY 28 Deutsche Bank db.com Global strength and At the centre of Asia 'pevfcrtmexpertise, 's markets. This advertisement has been approved and/or communicated by Deutsche Bank AG or by its subsidiaries and/ or affiliates ("DB") an Authority and subject
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      39 1 STRAIT TALK A GLOBAL TAX No simple solution to cap emissions TRANSPORT 20 "s;AVp;.aH REFORMS Singapore LAND SALES ‘i system stands 7’ \f in ood stead Competition Intense despite tepid market 3 REAL ESTATE 14 1 TOP STORIES 4
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      26 1 BT Explains: Breaking down trade barriers, Page 2 Editorial: Some promise, but it’s not over till it’s over, Page 24 More reports, Pages 2 and 25
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  • TOP STORIES
    • Article, Illustration
      Lock icon Breaking down trade barriers
      379 2  -  Negotiations for the Trans-Pacific Partnership (TPP) concluded on Monday after 5½ years of discussions, laying the basis for removing trade hurdles for 12 countries that account for about a third of the global economy. What exactly is the TPP, and why does it matter?By Kenneth LIm
      Data on trade between Chile and Peru and Singapore was not available at press time Sources: Ministry of Trade and Industry, Department of Statistics, World Bank BTGraphics: Jennifer Chua & Simon Ang  -  379 words
    • PACIFIC TRADE PACT
      • Article
        Lock icon TPP applauded for attention to SMEs
        438 2  -  By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore WITH its special provisions for smalland medium-sized enterprises (SMEs), the Trans-Pacific Partnership (TPP) agreement will boost the growth of smaller Singapore firms but only if they are well-versed in the terms of the accord, and capitalise on the
        438 words
      • Article
        Lock icon Singapore seen being able to fulfil minimum wage requirement
        433 2  -  Observers cite Progressive wage Model and workfare Income Supplement By Soon Weilun soonwl@sph.com.sg Singapore THE parties to the Trans-Pacific Partnership (TPP) agreement are expected to enact laws on minimum wage, and Singapore’s response to this requirement will be observed keenly. The
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      • Article
        Lock icon A long road ahead for newly minted TPP
        553 2 WP Washington THE Obama administration may have completed the arduous international negotiations needed to seal the 12-na-tion Pacific Rim trade deal, but there is a long road ahead before it gets approved by Congress. President Barack Obama needs to hold together a
        WP  -  553 words
    • Article, Illustration
      Lock icon Singapore’s tax regime deemed to pass muster in tax avoidance overhaul
      1105 4  -  Tax experts say OECD reform could also raise Republic’s competitiveness through nuanced incentives By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore SINGAPORE’S strategic use of tax incentives to draw investments that create economic value is unlikely to be marred by sweeping
      FILE PHOTO  -  1,105 words
    • Article
      Lock icon SGH apologises for virus outbreak
      308 4 THE STRAITS TIMES Singapore SINGAPORE General Hospital (SGH) has apologised for an outbreak of the hepatitis C virus in one of its renal wards, which led to 22 patients being infected with the virus. Of the 22, four –who were also ill with other serious
      THE STRAITS TIMES  -  308 words
    • Article
      Lock icon US firms hold US$2.1t in profits offshore to avoid taxes: Study
      380 4 Apple has US$181.1b offshore, more than any other US company REUTERS Washington THE 500 largest American companies hold more than US$2.1 trillion in accumulated profits offshore to avoid US taxes and would collectively owe an estimated US$620 billion in
      REUTERS  -  380 words
    • Article
      Lock icon Investment treaties allow for claims against Indonesia for haze, says law firm
      540 4  -  There is a case to be made if govt had ability to prevent the fires: Dechert By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore INVESTORS who claim under an investment treaty can hold Indonesia or its government accountable for damage
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    • Article
      Lock icon Singapore leads region in per capita financial assets: Allianz
      753 5  -  Strongest growth was in life and pension assets, which make up almost half of all assets, says report By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore SINGAPORE posted the highest gross per capita financial assets in the region last year beating Japan, Taiwan
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    • Article
      Lock icon Rich Singaporeans think life will improve over next 12 months
      333 5  -  Some 66% expect their disposable incomes to go up: poll By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore LIFE is looking sunny in the near future for millionaires in Singapore and that outlook is unlikely to have been affected by China’s recent
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    • Article
      Lock icon AirAsia sounds out investors about taking firm private: sources
      425 5 REUTERS Singapore THE founders of Asia’s largest budget carrier, AirAsia, are sounding out investors to take the company private in a management-led buyout, after a critical research report knocked its shares to a seven-year low, people familiar with the matter said.
      REUTERS  -  425 words
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  • Page 4 Advertisements
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      117 4 SINGAPORE MEDIATION LECTURE 2015 Embracing a Mediation Culture: How Your Company Benefits Speaker Dr. iur Hans Peter Frick Recent Senior Vice President and Group General Counsel, Nestle S.A. Thursday, 29 October 2015 5.30pm to 6.30pm (Registration starts at 5.00pm) Venue Singapore Management University Mochtar Riady Auditorium Administration Building Level 5
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      9 4 Indonesia says tough to set haze deadline, Page 22
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  • Page 5 Advertisements
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      38 5 X 4 6/ m ,r- n\ rvQep HOROLOGICAL LAB i THE HOURGLASS SINGAPORE PARAGON MORE PASSION TEL: 65-6735 6466 ION ORCHARD-L'ATELIER TEL: 65-6509 9268 KNIGHTSBRIDGE MALMAISON TEL: 65-6884 8484 WWW.MBANDF.COM kualalumpur PAVILION SHOPPING MALL TEL: 603-2148 8930 WWW.THEHOURGLASS.COM
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  • Page 6 Advertisements
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      203 6 Wine, Dine ,'.7- I w J* St Autumn Matsutake Indulgence Now till 15 October 2015 The Matsutake season is back again and Executive Chef Moon Kyung Soo serves up exquisitely prepared dishes with these highly prized Japanese mushrooms. Be treated to flavourful creations like the Matsutake Takikomi Gohan with Fresh
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      47 6 BT Wine, Dine Hospitality Page save more than 3 J Co| ful\-c° x For advertisement bookings and sales enquiries, please contact; Lawrence Chang 9229 4919 Janet Wee 9619 0208 Tan Ann Nee 9455 7786 Alisa Tan 9154 8381 Francis Yeo 9620 1356 Chitra Gunapala 9667 6463 S(h
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Oxley CEO lifts stake in IHC, stirring talk over what’s next
      651 6  -  Oxley’s CEO and deputy CEO now hold a collective 21.08% stake, close to IHC CEO’s 23.37% stake By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore THE head honcho of boutique real estate developer Oxley Holdings has raised his stake again in
      FILE PHOTO; Source: Bloomberg  -  651 words
    • Article
      Lock icon Alibaba could benefit from jump in China luxury spending
      485 6 BLOOMBERG Hong Kong ALIBABA Group Holding Ltd may be witnessing a slowdown in online transaction growth, yet it can find consolation in China shoppers boosting their budgets for luxury items. Consumers are open to paying as much as 4,200 yuan (S$941)
      BLOOMBERG  -  485 words
    • Article
      Lock icon S’pore fund still haunted by risky investments during financial crisis
      719 6 BLOOMBERG Singapore RESIDENTIAL mortgage-backed securities (RMBS) and collateralised loan obligations (CLOs) didn’t turn out to be very good investments during the global financial crisis. For one Singa-pore-listed mutual fund, they still aren’t. Six years on and Global Investments Ltd continues
      BLOOMBERG  -  719 words
    • Article
      Lock icon MoneySmart.sg raises S$2.8m in Series A funding
      513 8  -  Investors include SPH Media Fund, OPT SEA and Golden Gate Ventures in Singapore and Indonesia’s Convergence Ventures By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore MONEYSMART.SG, a homegrown personal finance portal, has raised S$2.8 million in a Series A round led by SPH Media Fund,
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    • Article, Illustration
      Lock icon Banks in S’pore reviewing ethical lending practices
      1095 9 There is concern that a backlash against the companies causing forest fires may extend to the financial institutions that fund them BLOOMBERG Singapore A SINGAPORE banking group has embarked on a review of ethical lending practices as haze caused by forest fires in
      BLOOMBERG; PHOTO: AFP  -  1,095 words
    • Article, Illustration
      Lock icon Wall Street’s recovery lifts local market
      692 10  -  ST Index’s rebound increases to 105 points in two days as blue chips continue to provide most of the dollar volume STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT WALL Street continued its recovery on Monday and this helped the Straits Times Index (STI) jump 46.16
      Source: Bloomberg  -  692 words
    • Article
      Lock icon STI STOCKS
      303 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 240 +2 241/237 271 213 6.1 6073.1 CapitaLand 295 +7 295/289 379 267 10.8 3.1 *****.8 CapitaMall Trust 196 +2.5 196/193.5 228 184.5 5.5 6802 CityDev 800 +22 803/781 1095 759 9.6
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    • Article
      Lock icon MOST ACTIVE
      35 10 VOLUME Yuuzoo 93,712,600 Noble 85,090,600 China Fishery 57,716,500 QT Vascular 53,047,500 Golden Agri-Res 47,496,000 Market volume 1,631,560,000 VALUE Singtel 141,009,284 DBS Grp 134,103,803 UOB 85,882,659 Global Logistic 58,134,091 CapitaLand 57,743,207 Market value 1,248,277,000
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    • Article
      Lock icon SGX ETFs
      111 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 293 +3 359 294/291 355/280 293/294 IS MS INDIA US$ US710 102 716/708 1000/648 710/714 88.8 DBXT MSRussia US$ US176 +5 22 176/176 245/140 175/176 DBXT MSPacXJp US$ US441 +13 21 441/441 538/428 439/440
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 10 Oct 6 VALUE CLOSE BT OB/OS -14.00 +145.00 BT CADI -*****.00 +113.00 BT 10-day MA -*****.00 -1.00 FTSE ST Mid Cap 678.49 +6.55 FTSE ST Small Cap 409.82 +1.42 FTSE ST All Share 701.21 +11.58 FTSE ST China Top 173.31 +1.38 FTSE ST China 212.03 +2.49 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 Oct 6,2015 701.21 +11.58 (+1.68%) Current streak 2 days Day high 701.34 Day low 695.43 52-week high 847.98 (Apr 15, 2015) 52-week low 676.13 (Sept 29, 2015)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 10 STI MSCI EAFE MSCI EAFE index Oct 5,2015 1,702.14 +33.27 (+1.99%) Current streak 4 days Day high 1,703.39 Day low 1,662.76 52-week high 1,949.49 (May 15, 2015) 52-week low 1,609.50 (Sept 29, 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 3 2 0 0 0 9 3 2 Manufacturing 54 30 25 15 4 3 69 34 28 Commerce 19 17 17 4 3 4 23 20 21 Tpt/Stor/Comms 17 10 8
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 18,989 18,989 71,334 71,334 Manufacturing 195,054 100,017 295,071 104,131 9,716 113,847 Commerce 106,654 29,933 136,587 83,822 1,713 85,535 Tpt/Stor/Comms 129,312 2,888 132,200 226,748 228 226,977 Finance 50,860 6 50,866 301,601 1 301,602 Construction 15,576 1,367
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    • Article
      Lock icon GAINERS
      75 10 BY CENTS CLOSE UP 52w high/low JMH USD 4940 299.7 4.4 6788/4502 Jardine C&C 2986 209.0 7.5 4269.7/2636 JSH USD 2842 198.4 5.1 3703/2611 DBXT MSKorea US$ 5050 188.4 2.7 6246/4478 DBXT MSINDO us$ 1058 131.3 9.5 1492/911 BY PERCENTAGE CLOSE UP 52w high/low AP Strat W*****6 3 130.8
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    • Article
      Lock icon LOSERS
      75 10 BY CENTS CLOSE DOWN 52w high/low DBXT S&PShort US$ 2238 -30.0 -0.9 2497/2104 China Fibretech 78.5 -25.0 -24.2 255/54 Hyflux 6% CPS ***** -15.0 -0.1 *****/***** TopGlobal 40 -9.0 -18.4 90/40 IS ASIA HYG US$ 1012 -7.1 -0.5 1130/1007 BY PERCENTAGE CLOSE DOWN 52w high/low Ntegrator W*****3 0.2 -50.0
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    • Article
      Lock icon UNUSUAL ACTIVITY
      83 10 VOL CLOSE($) CHANGE ISR Capital 25,349.3 0.010 -0.003 -23.08 Pan Ocean 2.1 5.020 +1.020 +25.50 Alpha Energy 1,401.4 0.103 -0.027 -20.77 Hosen 364.0 0.050 -0.004 -7.41 Sin Heng Mach 1,838.3 0.156 +0.021 +15.56 Jason Marine 105.5 0.210 -0.030 -12.50 Leader Env 72.0 0.040 -0.019 -32.20 Goodland 558.2 0.330
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    • Article
      Lock icon BROKERS’ TAKE
      437 10  -  Compiled by Cai Haoxiang Innovalues Buy Oct 6 close: S$0.64 Target price: S$1.02 Maybank Kim Eng Research, Oct 5 We think Innovalues’ 30 per cent retreat from its peak reached after Q2 2015 results opens up a buying window. Valuations have retreated to seven times FY2016 earnings per
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    • Article
      Lock icon CALENDAR
      18 10 DATA I 4pm (Oct 7) Singapore COE Bidding Results I 8pm (Oct 7) US MBA Mortgage Applications
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    • Article
      Lock icon A$ gains after RBA holds rates steady
      438 11 CURRENCIES REUTERS London THE Australian dollar stood out among major currencies on Tuesday, as a relaxed message from the country’s central bank on threats to growth quelled speculation that it would cut interest rates further this year. The dollar was lower against the
      REUTERS  -  438 words
    • FOREX RATES
      • Article, Illustration
        Lock icon HANG SENG
        2 11
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      • Article
        Lock icon INTERBANK CROSS RATES
        471 11 Oct 6 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.931 4.518 0.634 5.509 46.515 101.147 0.854 8.309 3.114 1.094 74.232 33.038 1.015 9.736 0.692 23.328 25.862 0.469 0.711 Canada 1.074 4.853
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        Lock icon SHANGHAI COMPOSITE
        2 11
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      • Article, Illustration
        Lock icon DOW JONES
        2 11
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      • Article, Illustration
        Lock icon NIKKEI
        1 11
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 11 OCt 6 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0140 1.0152 0.7106 0.7110 Canadian dollar 1.0894 1.0904 0.7637 0.7634 Euro 1.6008 1.6020 1.1218 1.1220 NZ dollar 0.9268 0.9281 0.6495 0.6500 Sterling pound 2.1616 2.1634 1.5148 1.5152
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 11 Oct 6 S$ Bid Offer 1-month 1.4284 1.4295 2-months 1.4299 1.4310 3-months 1.4312 1.4324 6-months 1.4340 1.4355 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        204 11 OCt 6 Most active Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 2.9 unch ***** 1 18 12 DBS MB eCW*****8 14.6 2.5 ***** 0.1 1700 3 OCBC Bk MB eCW*****1 14.5 1.4 7483 0.2 900
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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 Oct 5 Index Change Change Change Change Change Change World Preliminary 1242.9 1.6 -2.6 0.8 2.4 1.5 -4.6 EAFE Preliminary 987.6 2.4 0.1 1.3 3.0 2.0 -4.1 Europe Preliminary 1390.4 2.9 0.6
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        375 11 OCt 6 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Oct15 0 *****1 Nov15 0 239 NIKKEI 225 INDEX FUTURES Dec15 *****.00 *****.00 *****.00 *****.00 ***** *****2 Mar16 *****.00 *****.00 *****.00 *****.00 9 654 MSCI TAIWAN INDEX FUTURES Oct15 307.90 314.10 307.60 310.60 *****
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 11 Oct 6 $S Offer Bid 0vernight 0.08 0.03 1-month 1.0 0.875 2-months 1.0625 0.9375 3-months 1.125 1.0 Overnight mode: 0.25 US$ 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
        71 11 Oct 6 Oct 6 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0F 1.375 01-Oct-17 100.3 100.37 100.25 5-Year N*****0S 2.000 01-Jul-20 100.78 100.86 100.80 10-Year NX*****Z 2.375 01-Jun-25 99.89 100.30 100.00 15-Year NZ*****F 2.875 01-Sep-30 101.95 102.50 102.14 20-Year NZ*****V 3.375
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        193 11 Oct-5 Price Net change change Last Trade Agricultural Oct-5 CBOT Soybeans (US cents/bu) 884.25 10.00 1.14% 13/11/2015 CBOT Soybean Oil (US cents/lb) 28.48 0.64 2.30% 14/10/2015 CBOT Wheat (US cents/bu) 515.50 2.25 0.44% 14/12/2015 Oct-5 LIFFE Cocoa (£/tonne) 2126.00 5.00 0.24% 14/12/2015 LIFFE Coffee (US$/tonne) 1609.00 31.00 1.96%
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      • Article
        Lock icon PALM OIL
        57 11 Oct 6 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Oct 15 2385.0 2320.0 2386.0 2385.0 40 1866 Nov 15 2389.0 2334.0 2403.0 2318.0 3253 ***** Dec 15 2427.0 2372.0 2444.0 2353.0 ***** ***** Jan 16 2452.0 2405.0
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    • Article
      Lock icon SGX MAINBOARD
      1912 12 Transaction date: Oct 6 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil 82 42 8Telecom vol Day Div GrYld Net MCap 153 131.5 AIMSAMP Cap Reit 134.5 -1 857 136.5 134 1 8.2 853.6 LOW 183 129.5 ARA
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    • Article
      Lock icon SGX CATALIST
      358 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Company Last Sale 13.5 3.9 t Abundance Intl ('000) 1 0.3 t Advanced Systems 0.4 -0.1 500 0.5 0.4 10.5 Day Low Div C'vr GrYld Net P/E MCap 35 10 t
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    • Article
      Lock icon SGX ETF
      115 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale 1069 700 CIMBASEAN40 US$ US795 +46 1 795 791 124.7 4258 2750 DBXT China50 US$ US3031 +44 4 3035 3031 8.3 High Day 1750 1151 DBXT MSCHINA US$
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  • Article, Illustration
    Lock icon Generating Income and Growing Capital
    1371 7 The First Eagle Amundi Income Builder Fund seeks a sustainable 5% yield while generating long-term capital growth. Special Feature by Amundi This is the first of a two-part series on First Eagle Amundi Income Builder Fund. A feature next week will provide more insights into
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      473 7 Distributed by: fiDBS <li>i=osB rundsurermart INVEST Etiililttl llili Pltiiflillitl This document contains information about First Eagle Amundi Income Builder Fund (the "Fund“), a sub—fund of First Eagle Amundi, an undertaking for collective investment in transferable securities existing under Part I of the Luxembourg law of 17 December 2010, organised as
      473 words
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      2853 8 MANDATORY UNCONDITIONAL CASH OFFER by CANACCORD GENUITY SINGAPORE PTE. LTD. (Incorporated in the Republic of Singapore) Company Registration No. *****3620D for and on behalf of CREATIVE ELITE HOLDINGS LIMITED (incorporated in the British Virgin Islands) (Company Registration No. *****68) to acquire all the issued and paid-up ordinary shares in the
      2,853 words
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  • Page 9 Advertisements
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      170 9 Globally Connected RSM International AccountStaff A Stone Forest Company PERMANENT PLACEMENT EXECUTIVE SEARCH Finance Accounting Specialisation Partnering You in Manpower Needs www.AccountStaff.com.sg info@accountstaff.com.sg T+65 6594 7946 f m ft. n> rE» VvTj JUT y SMALLER OFFICE SPACES NOW AVAILABLE AT ASIA SQUARE. 650 to 13,000 sq ft of unlimited potential.
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  • Page 12 Advertisements
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      71 12 ON THIS OPPORTUNITY Reach out to investors and affluent readers in this Investor Information Page. Advertise at less than $5,800 per full colour ad (a special package for 4 leading newspaper titles The Straits Times, The Business Times, Lianhe Zaobao and The New Paper Sunday). Contact our Sales Team now!
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  • STRATEGY SPOTLIGHT
    • Article, Illustration
      Lock icon Welcoming different points of view
      997 13  -  Organisations that embrace diversity are able to attract better talent and enhance business performance.BY performance.BY FRANCIS KAN IN an increasingly competitive business world, developing a broad range of talent comprising different genders, ethnicities and experiences has become a top priority for many organisations around the
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    • Article
      Lock icon The numbers don’t lie
      168 13 NUMEROUS studies around the world have proven that diversity in the workplace leads to better business and financial performance. In 2013, consultants McKinsey Company reported that companies with top-quartile representation of women on boards had 47 per cent higher return on equity (ROE) on average and
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  • Page 13 Advertisements
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      165 13 2015 CPA CONGRESS LEADERSHIP. STRATEGY. BUSINESS. SINGAPORE 14 OCTOBER 2015 RAFFLES CITY CONVENTION CENTRE CPA Congress 2015 brings you distinguished speakers to discuss the major trends such as cyber defence, managing a workforce of millennials and transforming your public practice. Don't miss out on key insights that will enhance your
      165 words
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  • REAL ESTATE
    • Article, Illustration
      Lock icon Competition for land still strong despite tepid market
      759 14  -  BNP Paribas research shows differences in views on housing market outlook among bidders, while more new players outbid traditional developers By Lee Meixian leemx@sph.com.sg @LeeMeixianBT DEVELOPERS may be bidding more cautiously now, factoring the difficulty of selling their units into their bidding
      FILE PHOTO; Source: Company data, URA, HDB; Source: HDB, URA, BNP Paribas  -  759 words
    • Article
      Lock icon Dubai set for first residential Reit amid softening prices
      472 14 BLOOMBERG Dubai EMIRATES Reit (CEIC) Ltd plans to start Dubai’s first residential real estate investment trust as falling property prices boost potential returns from rental income. The new trust is expected to start operating later this year or early in 2016
      BLOOMBERG  -  472 words
    • Article
      Lock icon Shenzhen is China’s hottest property market
      550 14 REUTERS Hong Kong A STREAM of weak manufacturing data, the fall in the yuan and a stock market rout have painted a gloomy picture of the world’s second-largest economy over the past few months. But for the property market in China’s boomtown of Shenzhen,
      REUTERS  -  550 words
    • Article
      Lock icon China property firm Country Garden plans Islamic bond in Malaysia
      232 14 REUTERS Kuala Lumpur CHINESE property developer Country Garden Holdings Company plans a debut sale of Islamic bonds, or sukuk, from a RM1.5 billion (S$494 million) programme set up by its Malaysian subsidiary, the Country Garden said in an exchange filing.
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      Lock icon Cerberus leads buyers of distressed property debt in Europe
      543 14 BLOOMBERG Madrid CERBERUS Capital Management LP was the biggest buyer of distressed real estate debt in Europe through the first nine months of the year, closing eight deals with an original face value of 7.69 billion euros (S$12.3 billion), according to
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      26 14 Everything, plus the kitchen sink Select furniture for your home or showcase your merchandise in CLASS 114 To advertise, call the Print Classified Hotline: 1800-289 9988
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      256 15 Singapore Capital Expo and Small Cap Showcase OCTOBER2015 13 Oct 2015 (Tue) Discover Leading and Innovative Growth Companies The event will showcase up to 20 companies of Australia’s, Singapore’s and New Zealand’s leading Private, Pre-IPO, ASX, NZX and SGX Listed, Emerging Growth companies. Join us on 13 Oct to hear
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      3107 15 CIVMEC LIMITED Company Registration No. *****1837H (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Company will be held at Amara Hotel Singapore, Level 3, Connection Room 1, 165 Tanjong Pagar Road, Singapore *****9 on Thursday, 29
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  • BANKING & FINANCE
    • Article
      Lock icon Money flees emerging markets with no respite in sight
      614 16 Investors fear the ‘falling knife’ as economies slow down with recovery seen to be years away REUTERS London MONEY is fleeing emerging markets en masse in 2015 for the first time in 27 years and few global investors are tempted to
      REUTERS  -  614 words
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      Lock icon Economic woes testing South-east Asia reserves, defences
      389 16 REUTERS Jakarta SOUTH-EAST Asia has spent the best part of two decades shoring defences against a repeat of the Asian financial crisis, including building up record foreign exchange reserves, yet is now feeling vulnerable to speculative attacks again. Officials are growing increasingly concerned
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      9 16 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices
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      103 16 BuildTech Asia 2015 International Building Technology Expo if SINGAPORE CONSTRUCTION PRODUCTIVITY WEEK 2015 A part of 13-15 October 2015 Singapore EXPO, Hall 3 MAX Atria, Singapore 10am-6pm (13-14 Oct) 10am-5pm (15 Oct) TOWARDS #PRT BUILDING CONSTRUCTION t 4 OPENS NEXT WEEK! > Pre-register today at www.buildtechasia.com/register Organised by Hosted by
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  • ENERGY & COMMODITIES
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      2700 17 NOTICES TOLL FREE 1800 289 8822 I E ma il no t i ces s p h com s g I www s p h c l ass com s g no t i ces CHUAN HUP HOLDINGS LIMITED (Co. Reg. No. *****0572R) (Incorporated in the Republic of Singapore) NOTICE
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  • TECHNOLOGY
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      Lock icon Samsung seen tapping US$55b cash pile for share buyback
      784 18 Removing more than US$1 billion of stock from the market could prompt shares to rally by as much as 20 per cent BLOOMBERG Seoul INVESTORS in Samsung Electronics Co are watching their holdings plunge as new Galaxy smartphones get a lukewarm
      BLOOMBERG; PHOTO: AFP  -  784 words
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      2939 18 NOTICES T O LL FREE 1 800 289 8822 I E ma il no ti ces s p h com s g I www s p h c l ass com s g no ti ces PCI Limited (Co. Reg. No. *****4482N) (Incorporated in the Republic of Singapore) NOTICE OF
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  • CONSUMER
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      Lock icon Luxury brands seen eyeing expansion in emerging cities
      541 19  -  Besides the usual suspects, Wealthinsight includes Mexico City, Istanbul, Tel Aviv and Lagos in its list of 10 By May Yip btnews@sph.com.sg Singapore MOVE over, Singapore. Sales may be cooling down in our glass-plated designer mega-stores, but luxury marques can make up
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      3590 19 NOTICES TOLL FREE 1800 289 8822 I E ma il no t i ces s p h com s g I www s p h c l ass com s g no t i ces LTC CORPORATION LIMITED Company Registration No. *****0176K (Incorporated in the Republic of Singapore) NOTICE OF
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  • TRANSPORT
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      Lock icon No simple solution to cap emissions
      1065 20  -  Caps and levies all sound well and good, but would be very difficult to implement STRAIT TALK By DAVID HUGHES TWO weeks ago this column mentioned the intensifying campaign by environmental lobbyists in advance of the United Nations Climate Change Conference in Paris (COP21)
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      Lock icon Thailand turns to Mekong neighbours to diversify exports
      628 20 BLOOMBERG Bangkok THAI policymakers searching for ways to reverse a slump in exports may have found a solution close to home a US$170 billion market just over the border that’s growing by more than 6 per cent a year. As shipments to
      BLOOMBERG  -  628 words
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      Lock icon Airbus faces A380 test as SIA weighs lease renewal, says banker
      471 20 REUTERS Prague AIRBUS faces a double test of confidence in the A380 superjumbo in the coming months as Singapore Airlines ponders whether to renew its first lease while the planemaker seeks to bolster new sales, a leading industry banker
      REUTERS; FILE PHOTO  -  471 words
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      Lock icon US ship lost in hurricane was undergoing engine room work
      778 20 REUTERS Miami MISSING cargo ship El Faro, hit by powerful Hurricane Joaquin, was undergoing engine room work before it sank off the Bahamas and one presumed crew member is confirmed dead, the ship’s owner said on Monday. The US Coast
      REUTERS; PHOTO: AFP  -  778 words
    • Article
      Lock icon SHIPPING TIMES
      2110 26 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 KUC SUR JKT MOUNT AKABOSHI 003 60 9/10 11/10 12/10 17/10 19/10 DEL SOL 030 40 122 24/10 27/10
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      453 20 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF PHOENIX REAL ESTATE FUND PTE. LIMITED (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****9113E NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the members of PHOENIX REAL ESTATE FUND PTE. LIMITED deemed to have
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      2977 21 THE BUSINESS TIMES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphc|ass.com.sg/notices Health H M N Management International HEALTH MANAGEMENT INTERNATIONAL LTD (Company Registration No *****5241 E) (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING Nfi'E|C}l1E lg HEREBY GIVEN that the Seventeenth Annual General Meeting of HEALTH MANAGEMENT
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      346 23 JCI Senator Dato' Seri Dr Derek Goh Bak Heng, BBM and Datin Christina Goh The Family of the late Mr Goh Khim Beng Wish to express our utmost gratitude for the thoughtfulness and support shown to us during the bereavement. Our deepest appreciation to our national leaders, business associates, comrades,
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  • OPINION
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      Lock icon TPP holds out some promise, but it’s not over till it’s over
      576 24 TARIFFS, quotas and other trade barriers create winners and losers on both sides. Their removal can benefit producers in one country, to the detriment of more inefficient ones in others. Yet, as free trade proponents are fond of
      576 words
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      Lock icon There’s no magic wand to boost US growth
      842 24  -  THE BOTTOM LINE By Robert J Samuelson THE WASHINGTON POST WRITERS GROUP Washington IT’S no secret that although the US economy is near “full employment” (September’s jobless rate: 5.1 per cent), its rate of growth of about 2 per cent annually has
      THE WASHINGTON POST WRITERS GROUP  -  842 words
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      Lock icon Paying heed to a demanding electorate
      1353 24  -  Before the 2015 elections, political pundits were certain that the downward trend in the PAP’s fortunes would continue. Singaporeans proved them wrong.BY ASIT K BISWAS AND CECILIA TORTAJADA wrong.BY ASIT K BISWAS, CECILIA TORTAJADA T Asit K Biswas is distinguished visiting professor at the
      PHOTO: AFP  -  1,353 words
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      Lock icon Time ripe for Singapore to become Asian corporate bond trading hub
      985 25  -  COMMENTARY By Joseph Cherian, Marti G Subrahmanyam TJoseph Cherian is practice professor and director of the Centre for Asset Management Research and investment at nus Business School, while Marti G Subrahmanyam is the Charles E Merrill Professor of Finance,
      985 words
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      Lock icon Data management is a continual shared responsibility
      804 25  -  COMMENTARY By Tan Shong Ye T The writer is IT data risk leader at PwC Singapore BUSINESSES have been dealing with large datasets since the invention of the computer. While renewed focus on data and the value that can be unlocked using new
      804 words
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      Lock icon TPP: a breakthrough, yes – but still far from a done deal
      1142 25  - TPP: a breakthrough, yes but still far from a done deal Don’t break out the champagne just yet. The Trans-Pacific Partnership agreement hammered out on Monday has to be first ratified by the 12 countries’ domestic legislatures. BY ANDREW HAMMOND legislatures.BY ANDREW HAMMOND T The writer is an associate at
      PHOTO: BLOOMBERG  -  1,142 words
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      97 26 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE The Business Times SHIPPING TIMES Make A Splash In The Maritime World Via sfi\ maritime.coM Ahoy there! If you are in a business pertaining to any sector of the maritime industry, log on to SPHMaritime.com for a
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  • LIFE & CULTURE
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      Lock icon Scandal erupting in world of fantasy sports
      1033 27 Fantasy betting firms DraftKings, FanDuel face allegations of ‘insider trading’ in US NYT New York A MAJOR scandal is erupting in the multibillion-dollar industry of fantasy sports, the online and unregulated business in which players assemble fantasy teams with real athletes. On Monday,
      NYT; PHOTOS: NYT  -  1,033 words
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      Lock icon The bandana’s back: Paris catwalk show brings back the 1970s
      503 27 AFP Paris ON the Paris catwalk on Monday, a reappearance of bandanas those paisley kerchiefs that were hot back in the 1970s, remember? proved the lesson that old can become trendy again if you just wait long enough. Japanese brand
      AFP; PHOTOS: AFP  -  503 words
  • Page 27 Miscellaneous
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      317 27 CRYPTIC CROSSWORD Across 1 Dread being not entirely legal (5) 4 Keep a supply of drugs in something in the kitchen? (8) 8 Preserved meat makes sailor grumble (4,4) 9 Insect with wings of short span (8) 11 Foreign sailors find girl without transport (7) 13 Hankerings for last of
      317 words
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  • EXECUTIVE MONEY
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      Lock icon Templeton bets on ‘multi-decade’ EM opportunity
      703 28 Firm is betting on Mexican peso, Malaysian ringgit and Indonesian rupiah BLOOMBERG New York THE recent selloff in emerging-mar-ket assets, including Mexico and Malaysia’s currencies, has opened up investment opportunities not seen for decades, according to Franklin Templeton’s Michael Hasenstab, who’s well known for
      BLOOMBERG; PHOTO: BLOOMBERG  -  703 words
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      Lock icon Successful professionals take to angel investing
      1370 28 NYT New York IT sounds like a surefire way to get good returns on your money: Invest small amounts across a dozen or more young companies; reap outsize rewards on one or two; repeat. This is the simplified version of angel investing, the euphemistic
      NYT; PHOTO: AFP  -  1,370 words
    • Article
      Lock icon Aviva Investors eyes growth in institutional, retail markets in Asia
      753 28  -  By Genevieve Cua gen@sph.com.sg @GenCuaBT AVIVA Investors, the global asset management arm of Aviva insurance group, is gearing up to expand its client base further into the institutional and retail markets in Asia. Kevin Talbot, Aviva Investors chief executive (Asia-Pacific),
      753 words
    • Article
      Lock icon Sells outpace buys in S’pore stocks
      455 29 ON THE RADAR GLOBAL mutual funds continued to sell more Singapore stocks than they bought in the three months to Sept 30. Based on transactions on the top five stocks, there were net sells of S$741.8 million compared to net buys of S$650.2 million.
      455 words
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      Lock icon Commodities slump set to continue
      846 29 Prices are unlikely to rebound amid excess supplies, says Goldman Sachs, while Morgan Stanley sees oil dropping to as low as US$35 a barrel New York EVEN with commodities mired in the worst slump in a generation, Goldman Sachs Group Inc, Morgan Stanley and Citigroup
      846 words
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      98 29 PERSONALISATION News, your way, with bookmarks and a customisable menu FRESH NEW LOOK Visual and intuitive design BETTER BROWSING Seamlessly navigate with gestures DEPTH BREADTH More content for both free users and subscribers E-PAPER Read stories as they appear in print, or optimised for your device Download the new Business
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