The Business Times, 15 October 2015

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Total Pages: 56
1 12 The Business Times
  • 33 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 [3 D@BTBreakingnews CO REGN NO ’l*****868E MCI (P) 039/08/2015 Thursday, October 15,2015
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  • Article, Illustration
    249 1 Deflationary pressures in China continue to mount in September, with the consumer price index rising less than expected, and the producer price index falling for the 44th consecutive month. TOP STORIES 4 The number of homes put up for mortgagee (or lender) sale in 2015 appears to have
    249 words
  • 822 1  -  On the growth front, Singapore economy averted technical recession in Q3 as GDP rose 0.1 per cent quarter on quarter By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore SINGAPORE’S central bank disappointed the bears on Wednesday, easing monetary policy only slightly by keeping
    Source: Monetary Authority of Singapore (MAS)  -  822 words
  • 27 1 MARKETS Wednesday Change STI 2,983.92 -0.96 KL COMP CLOSED NIKKEI 225 17,891.00 -343.74 HANG SENG 22,439.91 -160.55 SHENZHEN B 1,123.35 -11.35 DOW (11.45am EDT) 16,990.12 -91.77
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  • 641 1  -  By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore THE Maritime Port Authority of Singapore (MPA) is taking the lead in a tripartite working group recently formalised to promote maritime listings on the Singapore Exchange (SGX). In formalising the working group for maritime
    Source: Marine Money  -  641 words
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  • TOP STORIES
    • SINGAPORE ECONOMY
      • 729 2  -  Quarterly 0.1 per cent growth helps avoid technical recession, but outlook remains muted By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore IT was a close shave. Singapore’s economy threw a nice little surprise for observers on Wednesday as it registered a 0.1 per
        Source: Ministry of Trade & Industry  -  729 words
      • 459 2  -  But with economic conditions still weak, short-lived rally expected By Siow Li Sen lisen@sph.com.sg @SiowLiSen Singapore THE Singapore dollar (SGD) jumped one per cent higher on Wednesday following a surprise mild easing move by the Monetary Authority of Singapore (MAS). But the
        Source: Bloomberg  -  459 words
    • 629 2  -  COMMENTARY By Wong Wei Kong weikong@sph.com.sg @WongWeiKongBT IN DELIVERING the slightest of easings on Wednesday, the Monetary Authority of Singapore (MAS) reiterated a point which the market has stubbornly resisted: that its Singapore dollar policy is not a primary tool for
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    • 521 4  -  Jumbo Group, Sheng Siong, ICA and SCDF take top honours in Spring Singapore’s awards this year By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore TWO homegrown companies and two government agencies have clinched this year’s top honours in Spring Singapore’s Business Excellence
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    • 440 4  -  By Virginie Mangin btworld@sph.com.sg Beijing DEFLATIONARY pressures continued to mount in China in September, with the consumer price index (CPI) rising less than expected, and the producer price index (PPI) falling for the 44th consecutive month. The CPI rose by 1.6 per cent
      440 words
    • 746 5  -  It offers location-specific PSI readings and can advise on type of outdoor activity tailored by age and health By Natalie Koh natksl@sph.com.sg @NataliekohBT Singapore THREE BT staffers were part of a six-strong team that won the top prize in Hyper
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  • Page 2 Advertisements
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  • COMPANIES & MARKETS
    • 476 6  -  Big four audit firms agree to provide audit committees of listed companies with a set of comparable indicators By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore THE Accounting and Corporate Regulatory Authority (ACRA) on Wednesday introduced an Audit Quality Indicators (AQIs)
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    • 736 6  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore NOBLE Group is doing the right thing, but it did not do it right. That was essentially what the commodities trader’s chief executive officer Yusuf Alireza seemed to be acknowledging at a forum on Wednesday,
      PHOTO: REUTERS  -  736 words
    • 442 6  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore CAPITALAND has been recognised as a “model corporate giving citizen” for its commitment to helping underprivileged children, having been conferred the inaugural corporate award within the President’s Volunteerism and Philanthropy Awards 2015. The corporate category was introduced
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    • 525 6  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore FINANCE functions in small and medium enterprises (SMEs) need to further evolve to play a more strategic role in the business, according to a report issued by the Association of
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    • 326 6  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore PERENNIAL Real Estate Holdings’ placement tranche of up to S$ 100 million for three-year retail bonds which carry a fixed interest of 4.65 per cent per annum has been oversubscribed. Despite increasing the amount available
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    • 217 6 Singapore THE Monetary Authority of Singapore (MAS) has taken civil penalty action against a Vincent Rajiv Louis for insider trading in the shares of PT Bank Danamon under the Securities and Futures Act (SFA). Mr Rajiv was a managing director at UBS
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    • 784 8  -  Minority shareholders need assurance as a looming capital-raising opportunity is set to test the board’s true independence HOCK LOCK SIEW By KENNETH LIM kenlim@sph.com.sg @KennethLimBT WITH a key capital-raising opportunity looming, shareholders of KLW Holdings need to consider the history of its new directors
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    • 514 8  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore IN a bid to grow its foothold in the property market in China, industrial product supplier GRP Limited plans to acquire 82.91 per cent of Starland Holdings for S$28.3 million. GRP, through its wholly-owned indirect
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    • 474 8  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore SOILBUILD Business Space Reit posted a 5.1 per cent rise in distribution per unit (DPU) from a year ago to 1.625 Singapore cents for the third quarter ended Sept 30. The Reit manager attributed this to
      474 words
    • 428 8  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore FULLERTON Healthcare Group CEO Michael Tan was on Wednesday named EY Entrepreneur of the Year 2015 Singapore. Dr Tan, who also won EY Entrepreneur of the Year in Health Care, will represent Singapore at
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    • 675 10  -  But the local index falls only a slight 0.96 point even as Hong Kong gives up 0.7 per cent and Tokyo slides 1.9 per cent STOCKS By Melissa Tan melissat@sph.com.sg @MelissaTanBT LOCAL shares caught a lungful of midweek ennui as markets across the
      Source: Bloomberg  -  675 words
    • 304 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 242 unch 245/240 271 213 6 6123.7 CapitaLand 304 unch 308/300 379 267 11.1 3 *****.5 CapitaMall Trust 200 unch 201/197.5 228 184.5 5.4 6940.8 CityDev 814 +9 819/805 1095 759 9.8
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    • 37 10 VOLUME Noble 62,183,800 Jiutian Chemical 49,093,600 MMP Resources 46,602,400 StratechGroup 43,388,300 Geo Energy Res 40,118,400 Market volume 1,192,764,000 VALUE Singtel 82,408,043 DBXT MSAsExJp US$ 63,069,808 DBS Grp 48,318,544 CapitaLand 42,947,336 UOB 42,152,335 Market value 846,494,000
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    • 105 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap DBXT MSAsExJp US$ US3303 +188 1371 3304/3290 4064/2973 3292/3303 7.6 IS MS INDIA US$ US709 754 710/701 1000/648 709/711 88.6 STI ETF 302 287 304/300 355/280 301/302 DBXT Vietnam US$ US2443 -57 28 2446/2431 2963/2139 2441/2447
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    • 77 10 Oct 14 VALUE CLOSE BT OB/OS 590.00 -54.00 BT CADI -*****.00 -32.00 BT 10-day MA -*****.00 +59.00 FTSE ST Mid Cap 694.08 +2.78 FTSE ST Small Cap 419.59 +0.62 FTSE ST All Share 719.87 -0.04 FTSE ST China Top 176.12 -0.21 FTSE ST China 216.34 -0.40 FTSE
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    • 35 10 STI FTSE ST All-Share FTSE ST All-Share index Oct 14,2015 719.87 -0.04 (-0.01%) Current streak 2 days Day high 724.23 Day low 715.55 52-week high 847.98 (Apr 15, 2015) 52-week low 676.13 (Sept 29, 2015)
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    • 33 10 STI MSCI EAFE MSCI EAFE index Oct 13,2015 1,741.44 -16.63 (-0.95%) Current streak 2 days Day high 1,756.13 Day low 1,734.43 52-week high 1,949.49 (May 15, 2015) 52-week low 1,609.50 (Sept 29, 2015)
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    • 186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 6 1 0 0 0 5 6 1 Manufacturing 38 41 24 5 6 9 43 47 33 Commerce 18 18 17 1 7 7 19 25 24 Tpt/Stor/Comms 10 14 11
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    • 121 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 15,171 15,171 54,040 54,040 Manufacturing 167,220 60,429 227,649 107,591 2,871 110,461 Commerce 91,078 23,427 114,505 63,183 1,394 64,577 Tpt/Stor/Comms 98,339 355 98,694 169,033 27 169,060 Finance 13,529 111 13,640 145,706 16 145,721 Construction 50,681 1,701
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    • 72 10 BY CENTS CLOSE UP 52w high/low DBXT MSAsExJp US$ 3303 260.7 6.0 4064/2973 GLD US$ ***** 252.4 1.6 *****/***** Lyxor LATAM US$ 430 61.0 11.4 685/386 Jardine C&C 3152 52.0 1.7 4269.7/2636 JMH USD 5210 48.5 0.7 6788/4502 BY PERCENTAGE CLOSE UP 52w high/low New Silkroutes 0.2 100.0 0.1
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    • 78 10 BY CENTS CLOSE DOWN 52w high/low DBXT Vietnam US$ 2443 -79.0 -2.3 2963/2139 DBXT MSINDO us$ 1124 -23.6 -1.5 1492/911 DBXT CSI300 US$ 912 -22.2 -1.7 1471/700 Lyxor MS India US$ 1560 -20.8 -1.0 1840/1332 Lyxor ChinaH US$ 1450 -18.0 -0.9 2055/1250 BY PERCENTAGE CLOSE DOWN 52w high/low ISDN
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    • 83 10 VOL CLOSE($) CHANGE Jiutian Chemical 49,093.6 0.026 +0.003 +13.04 Anchun Intl 90.1 0.059 +0.012 +25.53 Swiber 18,755.0 0.255 +0.015 +6.25 Grand Banks 362.1 0.235 +0.015 +6.82 Banyan Tree 156.5 0.540 +0.055 +11.34 Eucon 1,158.0 0.018 +0.003 +20.00 SHC Capital Asia 108.7 0.138 -0.012 -8.00 Polaris 23,875.2 0.015 -0.002
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    • 411 10  -  Compiled by Andrea Soh M1 Fully valued Oct 14 close: S$2.87 Target price: S$2.60 DBS Group Research, Oct 14 Expect M1’s dividend payout ratio to be lowered to 90 per cent versus 100 per cent last year in anticipation of higher competition ahead. M1 could be more affected
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    • 27 10 DATA I 1pm (Oct 15) Singapore Retail Sales Index I 3pm (Oct 15) US Federal Reserve Beige Book I 9.30pm (Oct 15) US initial jobless claims
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    • 438 11 CURRENCIES REUTERS London THE dollar fell to a 31/2 -week low against a basket of currencies on Wednesday as more signs of economic weakness in China bolstered expectations the US Federal Reserve will wait longer before raising interest rates. The Australian dollar
      REUTERS  -  438 words
    • FOREX RATES
      • Article, Illustration
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      • 471 11 OCt 14 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.944 4.614 0.638 5.634 47.288 99.014 0.870 8.331 3.040 1.078 75.895 33.442 1.008 9.757 0.696 23.613 25.787 0.474 0.727 Canada 1.059 4.888
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      • Article, Illustration
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      • 155 11 OCt 14 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0077 1.0089 0.7267 0.7273 Canadian dollar 1.0678 1.0686 0.7703 0.7701 Euro 1.5811 1.5821 1.1402 1.1405 NZ dollar 0.9352 0.9357 0.6744 0.6745 Sterling pound 2.1243 2.1257 1.5319 1.5324
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      • 22 11 Oct 14 S$ Bid Offer 1-month 1.3874 1.3880 2-months 1.3882 1.3889 3-months 1.3891 1.3899 6-months 1.3919 1.3929 Source: OCBC
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      • Article, Illustration
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    • EQUITY BONDS WARRANTS FUTURES
      • 205 11 Most active Oct 14 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left FTSEChinaA50 ***** MBeCW*****7 10.7 -1.4 9637 0.0 --1 FTSEChinaA50 9500 MBePW*****7 14.2 0.8 7120 0.0 1 KepCorp MB eCW*****1 9.9 0.2 5840 0.2 780 4 DBS MB
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      • 373 11 In local curr In S$ In US$ dy yr dy yr dy yr Oct 13 Index Change Change Change Change Change Change World Preliminary 1266.0 -0.3 -0.8 -0.2 3.1 -0.3 -2.4 EAFE Preliminary 999.8 -0.7 1.3 -0.8 3.7 -0.9 -1.9 Europe Preliminary 1398.3 -0.7 1.2
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      • 389 11 Oct 14 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Oct15 9825.00 9937.50 9705.00 9705.00 *****3 *****6 Nov15 9750.00 9887.50 9675.00 9665.00 6661 9291 NIKKEI 225 INDEX FUTURES Dec15 *****.00 *****.00 *****.00 *****.00 ***** *****3 Mar16 *****.00 *****.00 *****.00 *****.00 17 706 MSCI TAIWAN
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    • BANK RATES
      • 154 11 Oct 14 $S Offer Bid 0vernight 0.03 Par 1-month 1.0 0.875 2-months 1.0625 0.9375 3-months 1.125 1.0 Overnight mode: 0.02 US$ 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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      • 67 11 Oct 14 Oct 14 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0F 1.375 01-Oct-17 100.59 100.66 100.55 5-Year N*****0S 2.000 01-Jul-20 100.94 101.00 100.92 10-Year NX*****Z 2.375 01-Jun-25 99.17 99.35 99.30 15-Year NZ*****F 2.875 01-Sep-30 101.21 101.45 101.20 20-Year NZ*****V 3.375
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    • AGRI METALS ENERGY
      • 193 11 Oct-13 Price Net change change Last Trade Agricultural Oct-13 CBOT Soybeans (US cents/bu) 914.00 26.50 2.99% 13/11/2015 CBOT Soybean Oil (US cents/lb) 28.60 0.59 2.11% 14/10/2015 CBOT Wheat (US cents/bu) 519.00 12.25 2.42% 14/12/2015 Oct-13 LIFFE Cocoa (£/tonne) 2141.00 50.00 2.39% 14/12/2015 LIFFE Coffee (US$/tonne) 1610.00 -13.00 -0.80%
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      • 53 11 OCt 13 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Oct 15 2269.0 1284 Nov 15 2224.0 2283.0 2294.0 2206.0 1243 ***** Dec 15 2264.0 2320.0 2334.0 2240.0 ***** ***** Jan 16 2293.0 2348.0 2361.0 2272.0 9698 *****
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    • 1891 12 Transaction date: Oct 14 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil 82 42 8Telecom Vol Day Div GrYld Net MCap 153 131.5 AIMSAMP Cap Reit LOW Company 183 129.5 ARA Asset Mgmt 140 -1 59 141 139.5
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    • 358 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Company Last Sale 13.5 3.9 t Abundance Intl (’000) High Day LOW Div C'vr GrYld Net P/E MCap 35 10 t 3Cnergy 10 29.5 18 t CNMC Goldmine 21.5 +0.5 214
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    • 114 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale 1440 991 CIMBASEAN40 S$D 1175 -10 0 1175 1175 1069 700 CIMBASEAN40 US$ US829 -2 23 831 829 130 4258 2750 DBXT China50 US$ US3117 +2 0 3117
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    • 5 8 Profiles of winners, Pages 20-30
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  • Page 12 Advertisements
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  • Page 13 Advertisements
    • 2156 13 Thursday, 15, 2015 NOTICES TOLL FREE 18 0 0-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices SINARMAS LAND LIMITED (Incorporated in the Republic of Singapore) Company Registration No. *****0619R NOTICE OF EXERCISE DATE OF WARRANTS eW*****8 TO: ALL HOLDERS OF WARRANTS eW*****8 (“WARRANTS”) TO SUBSCRIBE FOR NEW ORDINARY SHARES IN THE CAPITAL
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    • 3143 13 KODA LTD (Company Registration No. *****1299R) (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of KODA LTD (the “Company”) will be held at 28 Defu Lane 4, Singapore *****4 on 30 October 2015 (Friday) at 10.00 a.m. to
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  • REAL ESTATE
    • 606 14  -  Some 55 homes put up for mortgagee sale from January to September; highly-coveted and rarely transacted properties may go on the block amid subdued economic growth By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THE sell-off in equity markets, price fluctuations of commodities and the
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    • 541 14 Asian demand inflating prices in Vancouver and Toronto, says HSBC exec BLOOMBERG Toronto HSBC Holdings, the largest foreign lender in Canada, said the country’s officials need to start tracking cross-border purchases of homes because the high-priced transactions may be inflating
      BLOOMBERG  -  541 words
    • 206 14 AFP London BRITISH lawmakers pushed a bill against illegal immigrants over its first parliamentary hurdle on Tuesday, amid warnings of a possible rise in discrimination as the government hardens its rhetoric. The proposed law is at the heart of the push
      AFP  -  206 words
    • 673 15  -  Consultants say competition is intensifying among landlords amid more completions of new homes; SRX data also shows HDB rents remain flat in September By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore WEAK leasing conditions for private condominiums continued to weigh on rents in September
      PHOTO: BLOOMBERG  -  673 words
    • 538 16 Real estate has been biggest beneficiary of record-low interest rates BLOOMBERG Seoul SOUTH Korea’s brisk property market has been a bright spot in an economy that has struggled for much of this year. Now, an oversupply of new homes and tougher lending
      BLOOMBERG  -  538 words
    • 327 16 BLOOMBERG Hong Kong US mall-owner Taubman Centers Inc is bypassing Beijing and Shanghai, instead building its first two Chinese shopping malls in the second-tier cities of Xian and Zhengzhou because the potential returns are higher, Asia president Rene Tremblay said. Taubman is investing
      BLOOMBERG  -  327 words
    • 1003 18 The push into direct transactions for groups of wealthy people seeking high-profile investments is relatively new BLOOMBERG New York WHAT does Manhattan’s tallest residential tower have in common with the Hooters hotel-casino in Las Vegas? They’re investments for rich families. JPMorgan
      BLOOMBERG  -  1,003 words
    • 1364 18 Property transactions for districts 1 to 27 with contract dates between Sept 2 and Sept 8,2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED The Sail Marina Bay Apt 08/09/2015 99 614 1200 1956 The Sail Marina Bay
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    • 204 18 BLOOMBERG Berlin VONOVIA SE, Germany’s biggest residential landlord, offered to buy Deutsche Wohnen AG if that company’s planned purchase of LEG Immobilien AG fails. The deal would be the largest in a rental property industry that’s going through a wave of acquisitions. Vonovia
      BLOOMBERG  -  204 words
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    • 263 14 Hong Fok Group 3-STOREY FREEHOLD BUILDING OFF JALAN EUNOS r f ii CUSHMAN WAKEFIELD ill rra 'KI1TTIISS wmEjs can* Estate Agents Licence No:L*****33E A STANDALONE BUILDING COMPRISING 3 APARTMENTS 2 RETAIL UNITS Enjoys dual-frontage on Jalan Eunos and Jalan Ismail Land Area: Approx. 7,664 sf > Total Floor Area: Approx.
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    • 287 14 PRIME COMMERCIAL SHOPHOUSES savills »t 157/159/161 Geylang Road Prominent double frontage 2-storey corner shophouse with 4-storey rear extension Size: L 2,988 8,331 sq ft (subject to survey) Tenanted to popular established eatery Close proximity to Kallang MRT Sports Hub 84 86 Tanjong Pagar Road Excellent shop front visibility Pair of
      287 words

  • Page 15 Advertisements
    • 342 15 Heraeus 50 YEARS SINGAPORE 30 YEARS HERAEUS IN SINGAPORE 1 For 160 years, Heraeus has shaped the future with breakthrough innovations in healthcare, environmental and communication technologies, electronics and industrial applications. While our people constantly strive to discover new ideas to grow the businesses of our customers, we are also
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    • 579 16 m i'v. jui*-. V ■4? r----v. S.: t£fc£ ML*** OiS2 ■-Nx •s* Sfe- '1 W*'*\ sli& Indicative boundaries onl CBRE Pte. Ltd. Agency Licence No.: L*****631 NEW ZEALAND RETAIL OPPORTUNITY THE BASE HAMILTON New Zealand's largest single site retail and entertainment destination (on circa 31 hectares), encompassing: Te Awa, an
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    • 154 16 jll.com.au/properties New 10 year government lease Absolute core CBD location FOR SALE L*****26E 81 St Georges Terrace, Perth Modern 14 level office building with total NLA of 12,226sqm* New 10 year lease to WA Government expiring 2026 over 94.5%* of the office NLA Absolute prime St Georges Terrace location in
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  • Page 17 Advertisements
    • 813 17 Advertorial Interior courtyard view of Noble Park 2-storey Serenity Aralia units of Estuari Gardens, Nusajaya UEM Sunrise's Signature Selection is a hit with home buyers it also highlights the robust demand for new launches that distinguish themselves from other developments. Signature Selection. This would not have been possible without the
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  • SINGAPORE ACCOUNTANCY CONVENTION
    • 1110 19  -  Finance professionals will play a key role in dealing with changes brought about by a global project to combat corporate tax avoidance.BY avoidance.BY FRANCIS KAN A GLOBAL effort to tackle the problem of companies that attempt to reduce their tax burden by exploiting loopholes in tax rules
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    • 279 19 THE OECD presented a final package of measures earlier this month which was discussed by G-20 finance ministers at their meeting in Lima, Peru on Oct 8. According to OECD secretary-general Angel Gurria, the measures represent the most fundamental changes to international tax rules
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  • Page 19 Advertisements
    • 137 19 SINGAPORE ACCOUNTANCY CONVENTION NETWORKING DINNER 2015 Gain the latest industry knowledge to lead in a rapidly changing global landscape, from a uniquely Asian perspective. Hear foreign and local industry experts share insights on topics and trends in today's business world, including: Positioning Accountants to Lead in the 21 st Century
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  • EY ENTREPRENEUR OF THE YEAR 2015
    • 827 20  -  Four exceptional entrepreneurs have emerged victorious at this year’s EY Entrepreneur of the Year Awards.BY Awards.BY FRANCIS KAN THEY may come from vastly different industries, but the four winners of this year’s EY Entrepreneur of the Year (EOY) Awards have shown a knack for leveraging technology to give
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    • 372 20 EY Entrepreneur Of The Year Health Care Michael Tan Group CEO and co-founder, Fullerton Healthcare Group “The healthcare industry in Asia is going through rapid transformation, and we’ve assembled a team of professionals who uphold the highest standards of medical care, championing constant innovation and partner collaboration
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    • 2645 24 The four recipients of the 14th EY Entrepreneur Of The Year 2015 Awards share the highlights of their careers ROUNDTABLE PARTICIPANTS I EY Entrepreneur Of The Year (Health Care): Michael Tan, group CEO and co-founder, Fullerton Healthcare Group I EY Entrepreneur Of The Year (Internet and Mobile):
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    • 1152 26  -  Eu Yan Sang relies on its family values to ensure the sustainability of its business. BY SUE-ANN CHIA Traditional Chinese medicine (TCM) is a profession marked by centuries of history and culture, involving knowledge that has been passed down by generations of practitioners. he
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    • 1028 26  -  By Samir Bedi T The writer is partner, people advisory services at EY WHEN asked what constitutes the tenets of their businesses’ growth strategy, common responses from entrepreneurs tend to revolve around issues such as business funding, corporate finance, operations, risk management, customers and technology. Often,
      PHOTO: REUTERS  -  1,028 words
    • 1241 30  -  Palm oil giant Golden Agri-Resources funds schools, builds infrastructure and develops housing in the communities it operates.BY operates.BY SUE-ANN CHIA Entrepreneur Franky Widjaja is in charge of a company that helps to manage almost 485,000 hectares of palm oil plantations, or
      PHOTO: BLOOMBERG  -  1,241 words
    • 843 30  - Asia’s family enterprises The imperative to innovate By Benjamin Yeoh T The writer is chief investment officer, Asia and Middle East, Barclays Wealth and Investment Management THE role and value created by family enterprises in Asia are noteworthy and numerous. Family enterprises constitute over 60 per cent of all publicly-listed
      PHOTO: AFP  -  843 words












  • BANKING & FINANCE
    • 830 32 Bond investors will be asked to lend as much as US$120b to finance AB inBev-SABMiller and Dell-EMC mergers BLOOMBERG New York WALL Street’s dealmakers are about to find out how much longer the seven-year corporate-debt binge can last. With two
      BLOOMBERG; PHOTO: BLOOMBERG  -  830 words
    • 628 32 BLOOMBERG New York JPMORGAN Chase Co, the first big US bank to report earnings after the third-quarter’s market tumult, missed analysts’ estimates and cautioned that trading is off to a tepid start this quarter. The nation’s largest lender said revenue fell 6.4
      BLOOMBERG  -  628 words
    • 552 32 BLOOMBERG New York BANK of America Corp, the second biggest US lender, posted thirdquarter profit of US$4.51 billion as litigation expenses tumbled and revenue exceeded some analysts’ estimates. Net income was 37 US cents a share, compared
      BLOOMBERG; PHOTO: BLOOMBERG  -  552 words
    • 431 32 BLOOMBERG Tokyo JAPAN’S government received orders for all the shares it’s offering in Japan Post Holdings Co and its banking and insurance units after the first two days of bookbuilding, people with knowledge of the matter said. Investor orders through Oct 9 for shares
      BLOOMBERG  -  431 words
  • Page 32 Advertisements
    • 292 32 LMIRT CAPITAL PTE. LTD. (the Issuer) (UEN/Company Registration No. *****2428M) (Incorporated in Singapore) NOTICE OF RESULTS OF MEETINGS to the holders of the presently outstanding Series 002 S$50,000,000 5.875 per cent. senior notes due 2017 (ISIN SG6V*****309), Series 003 S$75,000,000 4.48 per cent. senior notes due 2017 (ISIN SG6Y*****762), Series
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  • TECHNOLOGY
  • Page 35 Advertisements
    • 100 35 BuildTech Asia 2015 International Building Technology Expo A part of if SINGAPORE CONSTRUCTION PRODUCTIVITY WEEK 2015 13-15 October 2015 Singapore EXPO, Hall 3 MAX Atria, Singapore 10am-6pm (13-14 Oct) 10am-5pm (15 Oct) TOWARDS WRT BUILDING CONSTRUCTION t m mi 4 LAST DAY! Visitwww.buildtechasia.com for more information. Organised by Hosted by
      100 words

  • CONSUMER
    • 792 36 Combined market share of Belgian brewer and China Resources may trigger antitrust review in China BLOOMBERG Hong Kong IN creating the world’s biggest beer company, Anheuser-Busch InBev NV may need to let go of the planet’s best-selling beer: China’s Snow. That’s among
      BLOOMBERG  -  792 words
    • 675 36 BLOOMBERG London CARLOS Brito says the company he runs resembles the bottles of beer it sells, in one important way: The contents are under pressure. “If you want the best out of people you have to put pressure on
      BLOOMBERG; PHOTO: REUTERS  -  675 words
    • 360 36 Swatch Bellamy retails for 580 yuan and will be sold in China from January 2016 BLOOMBERG Shanghai SWATCH Group AG is linking up with China’s banking giants to sell a timekeeper that can make payments at retailers across the country,
      BLOOMBERG  -  360 words
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    • 2153 36 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices (Company Registration No. *****5693M) (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 2015 Annual General Meeting (“AGM”) of Loyz Energy Limited (the “Company”) will be held at Klapsons, The Boutique Hotel Eighteen,
      2,153 words

  • TRANSPORT
    • 540 37 BLOOMBERG Washington US air-traffic staffing is at a 27-year low that threatens to increase flight delays, particularly in the already congested New York region, the union representing controllers said. A growing wave of retirements, budgetary uncertainty and bureaucratic failures at the
      BLOOMBERG  -  540 words
    • 472 37 BLOOMBERG Tokyo TOYOTA Motor Corp said it’s targeting a 90 per cent reduction in emissions from its new vehicles by 2050 as it seeks to build on the success of its hybrid autos. The maker of the hydrogen-pow-ered Mirai sedan
      BLOOMBERG  -  472 words
    • 633 37 SIA says it had earlier re-routed some flights to and from Europe to avoid affected Caspian Sea area AFP Hong Kong HONG Kong’s flagship carrier Cathay Pacific has suspended flights over Iran and the Caspian Sea after the European Aviation Safety
      AFP  -  633 words
    • 770 42 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 Jul 15 Jul
      770 words
  • Page 37 Advertisements
    • 62 37 New Expecting Pa Baby Baby Exhibition 20-22 Nov 2015 Singapore Expo Hall 6B Sell your brand, products services directly to over 70,000 new and expecting parents in November 2015! Book your space now! Mr Jeffrey Foo 9008 9391 jefffoo@sph.com.sg Ms Sharifah Fadlia 9005 3451 sfadlia@sph.com.sg ere www.babybabysg.com Organised by: For
      62 words
    • 45 37 MR KIASU AND HIS KAMPUNG SPIRIT The co-creator of the local comic book series has been organising a street party in his estate for the past 15 years to encourage neighbourliness HE HOLDS HACKATHONS FOR FIRMS TO FIND THE RIGHT STAFF GET YOUR COPY TOMORROW
      45 words
    • 383 37 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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    • 0 37 !,._?:-"`?:'(:^?=--]|.`*\~&<(&=
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  • GOVERNMENT & ECONOMY
    • 610 38 Core retail sales slip 0.1% while retail sales excluding petrol increase 0.4%; producer price index falls 0.5%, the largest drop since January, after being unchanged in August LATEST US DATA REUTERS Washington US retail sales barely rose in September as cheaper petrol weighed
      REUTERS  -  610 words
    • 511 38 REUTERS Beijing CHINA’S foreign exchange market will “soon” extend the trading hours for the yuan to 11.30pm (1530 GMT) to overlap with European trading hours, three sources with direct knowledge of the matter said on Wednesday. The change is
      REUTERS; PHOTO: AFP  -  511 words
    • 862 38 Brazil’s next big crisis vanishing jobs and increasing loan defaults BLOOMBERG Sao Paulo IN the smog-filled, run-down industrial hubs that ring the southern end of Sao Paulo, Brazil’s next big crisis is taking root. The labour market, long the country’s lone economic bright spot as growth stagnated, is suddenly deteriorating
      BLOOMBERG  -  862 words
    • 733 39 Most forecasters see positive impact on waning working-age populations and evaporating “potential growth” rates REUTERS London EUROPE’S ageing economy may just find the biggest refugee crisis since World War Two giving it a new lease of life even if huge
      REUTERS  -  733 words
    • 417 39 REUTERS London THE chairman of Lloyds Banking Group said there is no “compelling economic argument” for Britain to stay in the European Union without a significant change in its relationship with the bloc. The comments by Norman Blackwell,
      REUTERS  -  417 words
  • Page 38 Advertisements


  • OPINION
    • 529 40 EDITORIAL ONE of the starkest warnings that came out of the recently concluded IMF-World Bank Annual Meetings held in Lima, Peru, was that emerging market economies need to brace for high turbulence when the US Federal Reserve starts to
      529 words
    • 808 40  -  THE BOTTOM LINE By David Mason T The writer is a business communications consultant in the UK. He was a Price Waterhouse Singapore partner for 18 years in the 1980s and 1990s WE are all conditioned to accept what people say to us, so long
      808 words
    • 1374 40  -  Moderation by Beijing will only be feasible if South-east Asian nations also adopt a pragmatic response to the arbitration court’s ruling. BY ASHLEY TOWNSHEND BY ASHLEY TOWNSHEND T The writer is a research fellow in the Alliance 21 Programme at the United States
      YALEGLOBAL ONLINE; PHOTO: REUTERS  -  1,374 words
    • 660 41  -  COMMENTARY By David Marsh T The writer is managing director at Official Monetary and Financial Institutions Forum Lima THE bright spots are getting brighter. There was a somewhat gloomy buildup to the annual meetings of the World Bank and the International Monetary Fund in
      660 words
    • 1745 41  - Sharpening research, innovation enterprise Powerhouses Germany and the US do it, and so do smaller countries, to reap economic growth and beat global competition. BY LIM CHUAN POH competition.BY LIM CHUAN POH T The writer is chairman of the Agency for Science, Technology and Research (A*Star) THE aftermath of the
      1,745 words
    • 440 41  -  LETTER TO THE EDITOR Bey Mui Leng Director, corporate communications Monetary Authority of Singapore I REFER to NS Nallakaruppan’s letter, “Urgent action needed to restore confidence to Singapore market” (BT, Oct 3, 2015). The Monetary Authority of Singapore (MAS) has indeed been
      440 words


  • Page 42 Advertisements
    • 194 42 PLACE VOUR AD HERE r THE BUSINESS TIMES m SHIPPING TIMES CALL JOE WONG AT 9620 132-7 n n FREIGHT I FORWARDER I I urgently needed by shippers I TO ADVERTISE. CALI IO I I WO INI <3 AT 9620 i: they -Find your services in the Shipping Times v
      194 words

  • BUSINESS EXCELLENCE 2015
    • 898 43 Judges praise first Jamaican-born winner’s stylistic range and unflinching exploration of violence, cronyism and corruption NYT New York JAMAICAN novelist Marlon James won the Man Booker Prize for Fiction 2015 on Tuesday for his novel, A Brief History of Seven Killings
      NYT; PHOTO: REUTERS  -  898 words
    • 347 43 AFP Tokyo TOKYO’S scandal-tinged Olympic stadium will be completed on time for the 2020 Games, the city’s governor said on Wednesday, as London Mayor Boris Johnson warned of the pitfalls of “playing politics” when hosting the competition. Japan’s preparations for the
      AFP  -  347 words
    • 427 43 AFP REUTERS Los Angeles ONE of Hollywood’s top movie stars Jennifer Lawrence hit out against film industry sexism in a blunt essay on Tuesday for an online feminist newsletter. The actress blasted pay inequality between the sexes in her fierce essay on Tuesday, titled “Why
      AFP; REUTERS; PHOTO: AFP  -  427 words
  • Page 43 Advertisements
    • 203 43 Are you missing out on trades that you should have gotten in for sizeable profits? The truth is that professional traders use simple tools and technical indicators to help them identify trends in the market, allowing them to make a “killing” in the market with that knowledge. Join us to
      203 words
    • 102 43 Instant boiling water and endless flow of fresh, pure filtered water At a touch of the tap... The Billi Sahara 31OXL SG50 promotion at $2,400 with GST (Usual Price $3,200) Convenience Lowest energy consumption Unique Eco-lntelligence Technology And yes... A Billi system typically uses less energy than a kettle, which
      102 words
  • Page 43 Miscellaneous
    • 366 43 CRYPTIC CROSSWORD Across 6 A cod that’s cooked with a plain drink (4,6) 8 Fail in old US college (4) 9 My time in Fez, say (5,4) 11 Mention of Fenland place being devious (4) 12 Stray right in US hospital facility (3) 13 Defensive type around court brewed beers
      366 words


  • BUSINESS EXCELLENCE 2015
    • 909 1  -  New initiatives under the Business Excellence framework aim to help companies in the manufacturing and construction sectors. BY FRANCIS KAN BY FRANCIS KAN IN today’s increasingly competitive landscape, enterprises need to boost their business performance in order to address the challenges of high labour costs
      909 words
    • 996 2 A SUCCESSFUL organisation needs good entrepreneurs, managers and leaders. It needs a good strategy, inspiration, purpose and strong execution. This is what business excellence is about. It helps an organisation to assess its strategies, strengthen its execution and secure its future by taking a
      996 words
    • 665 4 It is instrumental in helping small and medium-sized enterprises to professionalise their management practices and leads to higher profits THE 2014 Business Excellence (BE) impact study showed that small and medi-um-sized enterprises (SMEs) that are certified to the BE standards derived high impact from
      665 words
    • 264 4 THE Business Excellence framework is aligned with excellence frameworks adopted for the US Malcolm Baldrige National Quality Award, EFQM (European Foundation for Quality Management) Excellence Award, Japan Quality Award and the Australian Business Excellence Awards. As the administrator of Singapore’s Business Excellence initiative, Spring Singapore
      264 words
    • 70 4 THE Business Excellence journey embraces the concept of best practice sharing and learning across like-minded business leaders and senior managers to deliver greater value to the business community. The 2015 Business Excellence Awards winners will be presenting their best practices at the Business Excellence Awards Winners Sharing
      70 words
    • 958 6  -  Group’s challenge is to maintain its position as a global leader in border security. WINNER OF SINGAPORE QUALITY AWARD WITH SPECIAL COMMENDATION BY FRANCIS KAN Whether it’s issuing new passports or keeping our borders safe, the Immigration Checkpoints Authority (ICA) a 2015 Singapore Quality Award
      958 words
    • 1029 8  -  he group achieves world-class outcomes despite being one of the world’s leanest emergency organisations.BY WINNER OF SINGAPORE QUALITY AWARD WITH SPECIAL COMMENDATION organisations.BY FRANCIS KAN THE Singapore Civil Defence Force (SCDF) has adopted new technologies to deal with a growing number of safety challenges facing
      1,029 words
    • 1041 9  -  Focusing on talent development and retention plays a big part in the seafood restaurant chain’s success. BY SUE-ANN CHIA WINNER OF THE PEOPLE EXCELLENCE AWARD BY SUE-ANN CHIA IT is Saturday night at Jumbo Seafood restaurant at Riverside Point along Clarke Quay, and there is a
      1,041 words
    • 1103 10  -  Sheng Siong’s focus on productivity, technology pays off. WINNER OF INNOVATION EXCELLENCE AWARD BY SUE-ANN CHIA THE falling numbers of foreign workers and rising business costs have forced many companies to turn towards raising productivity and trimming fat in a bid to survive. For supermarket chain
      1,103 words
  • Page 1 Advertisements
    • 169 1 Inside Ensuring success now and in future 2 SMEs get boost from BE initiative 4 ICA’s superior brand of service 6 SCDF prepares for future risks 8 People power Jumbo’s expension 9 Innovating to boost performance 10 figs fcflr V The Life Saving Force .4 rs i c y >
      169 words

  • Page 2 Advertisements
    • 134 2 PHS HAIRSCIENCE CELEBRATES ATTAINING THE SINGAPORE SERVICE CLASS S I N G A P O 1! E SERVICE CLASS c 4 PHS PHS "Al RSCIE N C E U B Tr? m tj r v m lit Av 4. w4* m s. M'-’i rl r'. <3 i am o m.
      134 words

  • Page 3 Advertisements
    • 25 3 Sheng Siong Group has inculcated a strong spirit of innovation across its workforce to optimise processes and maximise value for all stakeholders. all for you!
      25 words

  • Page 4 Advertisements
    • 70 4 PEOPLE EXCELLENCE AWARD 2015 WINNER We are the First F&B Group to be conferred the prestigious People Excellence Award Bonding people through food. JMMI3®" GROUP OF RESTAURANTS s. m m www.jumbogroup.sg k 4 -in f X 1 7s, taw I m .VSSf.-J--r JMMI3®; SEAFOOD ®l L HOTPOT SINGAPORE STYLE 3t
      70 words


  • Page 6 Advertisements
    • 203 6 On Chedng JEWELLERY EH sr i r i 2^-# r -JliriL- u K 1 X- Ay to WA i*f r m r > V v I w..; ■v Si 's-SPfeS* ,t& k *|sd m SINGAPORE SERVICE Celebrating Priceless Customer Relationships On Cheong Jewellery is proud to achieve Singapore Service Class
      203 words


  • Page 8 Advertisements
    • 189 8 i-r LLL f hh L CHECKrO' Immigration Checkpoints Authority r1 I For application and more information, visit www.ica.gov.sg/careers or www.careers.gov.sg Past. Present. Future. ICA at the forefront of our nation's security... C Ar ment /> V N o w o 2 cn SINGAPORE QUALITY AWARD 2015 WINNER ICA is Singapore’s
      189 words

  • Page 9 Advertisements
    • 76 9 ONE SP Services is your one stop for connection to electricity, water, piped gas and refuse removal. Meeting your needs through one phone call or mouse click, all in one business day. For your convenience, you can also have easy access to our e-services, mobile app and self-service e-Kiosks. Every
      76 words

  • Page 10 Advertisements
    • 199 10 Ejjweducare BlVeducare Blpeducarc co-operative limited F®K schods services international -operative shaping destinies consultancy A Co-operative of the Singapore Teachers’ Union A Company of the Sinsapore Teachers’ Union’s Co-operative A Company of the Sinsapore Teachers’ Union’s Co-operative Nurturing Human Capital EDUCARE SCHOOLS SERVICES PRIVATE LIMITEdN (A SUBSIDIARY OF EDUCARE CO-OPERATIVE LIMpTEDp
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  • Page 11 Advertisements
    • 912 11 BONIA '/fir 7/a/ia/t 7/t^/ ra//c/t BONIA'S NATURAL ECO-FRIENDLY style SET FOR GLOBAL TAKE-OFF The future of eco-friendly high fashion leather bags and accessories is now here at BONIA’S new eco-theme Natural Boutiques in Changi Airport, Terminals 2 and 3. Call it a natural progression for the savvy, homegrown brand. BONIA
      912 words