The Business Times, 19 October 2015

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Microfilm: NL33640
Total Pages: 37
1 14 The Business Times
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  • Title Section
    Lock icon Masthead
    33 1 THE BUSINESS TIMES 2015 SOCIETY OF NEWS DESIGN EXCELLENCE AWARD■BEST IN OVERALL REDESIGN■ S$1.00 q:h A SINGAPORE PRESS HOLDINGS PUBLICATION wvvw.businesstimes.com.sg [3 D@BTBreakingnews CO REGN NO ’l*****868E MCI (P) 039/08/2015 Monday, October 19,2015
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  • Article, Illustration
    Lock icon DAILY DIGEST
    245 1 Singaporean and other Asian investors should be careful not to overpay for pricey new London property developments coming onstream. TOP STORIES 2 The wheels could come off the US stock market rally if a long-awaited GDP report from China on Monday causes another shock.TOP STORIES 2 Auditors and
    245 words
  • Article
    Lock icon MARKETS
    26 1 MARKETS Weekly Change STI 3,030.61 +32.11 KL COMP 1,716.82 +10.28 NIKKEI 225 18,291.80 -146.87 HANG SENG 23,067.37 +608.57 SHENZHEN B 1,149.97 +42.96 DOW 17,215.97 +131.48
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  • Article, Illustration
    Lock icon Green office buildings: the new norm?
    1182 1  -  While they don’t necessarily command a rental premium, they are becoming the minimum standard that major tenants now demand By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore MORE green office buildings are sprouting up in Singapore’s central business district not just in response to tenant demand,
    Source: BCA  -  1,182 words
  • Article, Illustration
    Lock icon Applied Materials, A*Star to set up S$150m lab to make advanced chips
    744 1  -  By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore BUOYED by the performance of its last venture here, the world’s largest chipmaking equipment maker Applied Materials (AM) will announce on Monday a S$ 150 million joint investment with Singapore’s national research
    PHOTO: LAURA NG  -  744 words
  • Page 1 Advertisements
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  • TOP STORIES
    • Article, Illustration
      Lock icon Poor exchange
      320 2  -  BT Explains BY KELLY TAY On Oct 14, the Monetary Authority of Singapore (MAS) ignored calls to aggressively weaken the Singapore dollar to make exports cheaper and boost growth. This is especially since inflation is not a major issue now. The Business Times looks at why a weaker
      BT Graphics: Kelly Tay  -  320 words
    • Article
      Lock icon Don’t overpay for pricey new London properties, warns adviser
      735 2  -  Offer prices of new developments are generally at premiums of around 40% over quotes of other prime properties By Neil Behrmann btworld@sph.com.sg London SINGAPOREAN and other Asian investors should be careful not to overpay for pricey new London property developments, which
      735 words
    • Article, Illustration
      Lock icon Rally to continue, unless China GDP disappoints
      890 2  -  WALL STREET INSIGHT By Rob Curran btworld@sph.com.sg US STOCKS rebounded last week as economic and earnings data was seen as tying the Federal Reserve’s hands for the rest of the year. However, the wheels could come off the rally if a long-awaited report
      PHOTO: BLOOMBERG  -  890 words
    • Article
      Lock icon Diplomatic initiatives presage reduction of regional tensions in East Asia
      713 2  -  By Anthony Rowley btworld@sph.com.sg Tokyo A SUDDEN flurry of diplomatic activity involving Japan, China and South Korea brokered, apparently, in part by the United States has strengthened the prospect of a trilateral summit being held among leaders of the three
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    • Article, Illustration
      Lock icon New lease of life for old, non-green offices
      917 4  -  BCA is encouraging older-generation buildings to retrofit to cut energy usage and boost their capital values SUSTAINABLE BUILDINGS By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore AS green offices proliferate across Singapore, will the many existing non-green offices that still form the bulk of
      FILE PHOTOS  -  917 words
    • Article, Illustration
      Lock icon Greece ‘on the way up’, things likely to stabilise
      286 4  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore GREECE was on the brink of leaving the eurozone in the summer, but things are now looking up for the beleaguered country, said Stavros Thomadakis, emeritus professor of financial economics at the University of Athens,
      PHOTO: REUTERS  -  286 words
    • Article, Illustration
      Lock icon Revamped ethics standards for auditors by end-2017
      718 4  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore AUDITORS and accountants will get clearer ethical guidance on a broad range of issues by end-2017, said Stavros Thomadakis, chair of the International Ethics Standards Board for Accountants (IESBA). One issue that will be clarified is what
      718 words
  • Page 2 Advertisements
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      Lock icon Page 2 Advertisements Column 1
      191 2 Weathering Storms as One I im I song Seng's 8th Solo Exhibition Weathering Storms as One is a sculpture exhibition featuring the well-known Singaporean sculpture artist Lim Leong Seng. Lim Leong Seng is an important Singaporean sculpture artist with a creative journey spanning fifty years. As the first and only
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon AccorHotels sees challenges in Asia-Pac expansion
      1223 6  -  The group faces problems of oversupply of rooms in some cities and an industry-wide management staff crunch, says its Asia-Pacific chairman and CEO Michael Issenberg. BY LEE MEIXIAN TOPLINE BY LEE MEIXIAN leemx@sph.com.sg @LeeMeixianBT ACCORHOTELS is ramping up its Asia-Pacific presence to capture the
      PHOTO: LAURA NG  -  1,223 words
    • Article, Illustration
      Lock icon How good is your auditor?
      920 6 Eight AQIs to be provided by audit firms from FY2016 will provide greater transparency and set new expectations for a quality audit. BY RAMLEE BUANG T The writer is a member of the Governing Council of the Singapore institute of Directors BOARDS and their audit
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    • Article
      Lock icon DB Platinum
      9 6 Crod Branchen Stars R1C-A 09/10/2015 221,27 EUR
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    • Article
      Lock icon Shareholder deals and buybacks continue to fall
      1194 7  -  INSIDE MARKETS By Robert Halili T The writer is managing director, Asia insider Limited THE insider activity fell for the second straight week based on filings on the Singapore Exchange from Oct 12 to 16. A total of 15 companies recorded 29 purchases
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    • Article, Illustration
      Lock icon STI / Catalist
      64 8 STI Catalist WEEKLY Straits Times Index Oct 16,2015 3,030.61 +32.11 (+1.07%) Current streak 2 days Week high 3,032.11 Week low 2,983.92 52-week high 3,525.19 (Apr 17, 2015) 52-week low 2,793.15 (Oct 2, 2015) FTSE ST Catalist index Oct 16,2015 542.66 +14.24 (+2.69%) Current streak 2 days Week high 542.66 Week
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    • Article, Illustration
      Lock icon Bad news is still good news
      654 8  -  STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT LAST week’s column focused on Morgan Stanley’s urging to stay invested (or to “stay with the bounce”) because global growth is largely on track, the US investment bank also taking pains to distance itself from the “bad economic
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    • Article
      Lock icon STI STOCKS
      304 8 Stock name Close Change Wk high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 245 +7 245/237 271 213 6 6199.6 CapitaLand 310 -5 316/300 379 267 11.4 2.9 *****.9 CapitaMall Trust 202 +4 205/197.5 228 184.5 5.4 7010.2 CityDev 818 +2 827/803 1095 759 9.8
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    • Article
      Lock icon MOST ACTIVE
      35 8 VOLUME Noble 488,853,400 Ezra 363,400,900 Rex Intl 323,708,700 Geo Energy Res 225,720,000 StratechGroup 201,450,400 Market volume 8,247,854,000 VALUE Singtel 524,443,472 UOB 453,629,307 DBS Grp 398,596,038 OCBC Bank 277,583,672 Noble 243,271,877 Market value 5,497,142,000
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    • Article
      Lock icon SGX ETFS
      110 8 Most Active Fund Last sale +/-(‘000) Wk high/low 52w high/low Buy/Sell Mcap DBXT MSAsExJp US$ US3303 +188 2017 3304/3290 4064/2973 3365/3376 7.6 STI ETF 307 +4 1405 308/300 355/280 306/308 IS MS INDIA US$ US717 -2 1247 723/701 1000/648 716/717 89.6 Nikko AM STI ETF 312 +4 816
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    • Article
      Lock icon COMPANY MEETINGS
      116 8 COMPANY MEETING PLACE DATE TIME Ellipsiz Ltd A 1 Orchid Club Road 19 Oct 3.00pm E Orchid Country Club 19-Oct 3.30pm Hai Leck Hldgs Ltd A 47 Tuas View Circuit 19-Oct 10.00am E S’pore 19-Oct 11.00am Raffles Education Corp A Cinnamon Room (Lvl 5) Novotel S'pore Clarke Quay
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Oct 16 VALUE CLOSE BT OB/OS 770.00 +92.00 BT CADI -*****.00 +88.00 BT 10-day MA -*****.00 +77.00 FTSE ST Mid Cap 701.10 +3.43 FTSE ST Small Cap 423.19 +0.27 FTSE ST All Share 731.11 +3.79 FTSE ST China Top 178.73 +1.17 FTSE ST China 220.28 +2.55 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      36 8 STI FTSE ST All-Share WEEKLY FTSE ST All-Share Index Oct 16,2015 731.11 +8.25 (+1.14%) Current streak 2 days Week high 731.11 Week low 719.87 52-week high 845.85 (Apr 17, 2015) 52-week low 677.74 (Oct 2, 2015)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      34 8 STI MSCI EAFE WEEKLY MSCI EAFE index Oct 16,2015 1,763.18 +5.01 (+0.28%) Current streak 2 days Week high 1,763.18 Week low 1,731.71 52-week high 1,949.49 (May 15, 2015) 52-week low 1,660.74 (Sept 25, 2015)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 7 5 0 0 0 4 7 5 Manufacturing 74 54 30 23 10 5 97 64 35 Commerce 30 21 21 7 9 4 37 30 25 Tpt/Stor/Comms 22 15 4
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 89,732 89,732 386,397 386,397 Manufacturing 973,625 386,318 1,359,943 486,738 23,393 510,131 Commerce 716,819 327,981 1,044,800 419,865 17,660 437,525 Tpt/Stor/Comms 937,684 14,355 952,039 1,043,113 1,146 1,044,259 Finance 137,150 536 137,686 1,240,415 77 1,240,492 Construction 243,465 75,549
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    • Article
      Lock icon GAINERS
      75 8 BY CENTS CLOSE UP 52w high/low SPDR S&P500 US$ ***** 1255.3 4.7 *****/***** GLD US$ ***** 298.6 2.0 *****/***** JMH USD 5400 297.2 4.1 6788/4502 DBXT MSAsExJp US$ 3303 259.9 6.0 4064/2973 DBXT ASX200 US$ 3340 246.1 5.6 4095/3112 BY PERCENTAGE CLOSE UP 52w high/low Charisma W*****3 0.4 300.0
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    • Article
      Lock icon LOSERS
      81 8 BY CENTS CLOSE DOWN 52w high/low IS S&P500 US$ ***** -543.3 -1.9 *****/***** DBXT Nifty US$ ***** -224.0 -1.2 *****/***** IS ASIA HYG US$ 1040 -55.3 -3.7 1130/1007 DBXT MSINDO us$ 1153 -41.5 -2.5 1492/911 IS MS INDIA S$D 987 -35.0 -3.4 1116/920 BY PERCENTAGE CLOSE DOWN 52w high/low
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    • Article
      Lock icon UNUSUAL ACTIVITY
      83 8 VOL CLOSE($) CHANGE SMJ Intl 65.0 0.145 -0.030 -17.14 Epicentre 5,000.0 0.170 -0.010 -5.56 Transit Concrete 33.7 0.600 +0.050 +9.09 Interra Resource 4,465.8 0.118 +0.018 +18.00 Spackman 88,171.5 0.068 +0.012 +21.43 Chiwayland Intl 3,059.3 0.062 +0.011 +21.57 China Taisan 92.3 0.128 -0.010 -7.25 Union Steel 61.3 0.080 -0.027
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    • Article, Illustration
      Lock icon Oil up as US rig count falls for 7th straight week
      555 8 COMMODITIES REUTERS BLOOMBERG New York OIL prices rose nearly 2 per cent on Friday as traders covered short positions after four days of sharp losses, and as data showed the US oil rig count fell for a seventh straight
      REUTERS; BLOOMBERG; PHOTO: BLOOMBERG  -  555 words
    • Article
      Lock icon Japan’s economic prospects darken
      314 9  -  CURRENCIES By Lee Zhen Sheng T The writer is a forex dealer at Phillip Futures JAPAN’S economic prospects darken on challenging external environment, poorer inflation expectations and slipping confidence in the government’s economic revival strategy. The dimmer prospects could possibly give rise to renewed expectations of
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    • FOREX RATES
      • Article, Illustration
        Lock icon HANG SENG
        3 9 WEEKLY
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      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Oct 16 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.939 4.626 0.640 5.645 47.297 98.698 0.868 8.227 3.037 1.068 75.998 33.543 1.007 9.552 0.694 23.504 25.720 0.471 0.728 Canada 1.065 4.927
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        3 9 COMPOSITEWEEKLY
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      • Article, Illustration
        Lock icon DOW JONES
        3 9 WEEKLY
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      • Article, Illustration
        Lock icon NIKKEI
        2 9 WEEKLY
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 9 Oct 16 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0067 1.0076 0.7282 0.7286 Canadian dollar 1.0723 1.0730 0.7759 0.7756 Euro 1.5726 1.5733 1.1375 1.1377 NZ dollar 0.9431 0.9437 0.6822 0.6824 Sterling pound 2.1390 2.1402 1.5472 1.5476
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Oct 16 S$ Bid Offer 1-month 1.3831 1.3836 2-months 1.3837 1.3844 3-months 1.3848 1.3853 6-months 1.3871 1.3877 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        206 9 Most active Oct 16 Prem Expiry Wk Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 2.8 -0.2 ***** 1 18 12 DBS MB eCW*****1 13.7 0.5 ***** 0.1 1860 4 KepCorp MB eCW*****1 10.8 -1.1 ***** 0.2 780
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 9 In local curr In S$ In US$ dy yr dy yr dy yr Oct 16 Index Change Change Change Change Change Change World Preliminary 1272.6 0.4 -0.3 0.4 2.5 0.3 -1.7 EAFE Preliminary 1007.4 0.8 2.1 0.7 3.6 0.5 -0.7 Europe Preliminary 1408.9 0.6 2.0
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        395 9 Oct 16 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Oct15 *****.00 *****.00 *****.00 *****.50 *****9 *****8 Nov15 9985.00 *****.00 9980.00 *****.00 ***** ***** NIKKEI 225 INDEX FUTURES Dec15 *****.00 *****.00 *****.00 *****.00 ***** *****2 Mar16 *****.00 *****.00 *****.00 *****.00 6 723 MSCI TAIWAN
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 Oct 16 $S Offer Bid 0vernight 0.10 0.05 1-month 0.875 0.750 2-months 0.9375 0.8125 3-months 1.00 0.875 Overnight mode: 0.25 US$ 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
        63 9 Oct 16 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0F 1.375 01-Oct-17 100.67 100.71 100.68 5-Year N*****0S 2.000 01-Jul-20 101.23 101.15 101.15 10-Year NX*****Z 2.375 01-Jun-25 100.01 100.08 99.95 15-Year NZ*****F 2.875 01-Sep-30 102.46 20-Year NZ*****V 3.375 01-Sep-33 109.68 30-Year NA*****N
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        193 9 Oct-16 Price Net change change Last Trade Agricultural Oct-16 CBOT Soybeans (US cents/bu) 898.25 -7.00 -0.77% 13/11/2015 CBOT Soybean Oil (US cents/lb) 28.60 0.02 0.07% 14/12/2015 CBOT Wheat (US cents/bu) 492.25 -10.25 -2.04% 14/12/2015 Oct-16 LIFFE Cocoa (£/tonne) 2117.00 16.00 0.76% 14/12/2015 LIFFE Coffee (US$/tonne) 1613.00 -54.00 -3.24%
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      • Article
        Lock icon PALM OIL
        57 9 Oct 16 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Nov 15 2245.0 2235.0 2267.0 2232.0 483 7419 Dec 15 2291.0 2269.0 2305.0 2267.0 ***** ***** Jan 16 2323.0 2302.0 2339.0 2298.0 ***** ***** Feb 16 2343.0 2329.0
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    • Article, Illustration
      Lock icon Olam completes ADM acquisition
      374 10  -  Deal is completed at an enterprise value of US$1.2b on a cash free and debt free basis By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore AFTER some delay, Olam International has finally completed the acquisition of ADM’s global cocoa business which was announced in December last year. The
      PHOTO: BLOOMBERG  -  374 words
    • Article
      Lock icon PRIME LENDING RATES
      271 10 Oct 16 BANKS Agricultural Bank Of China 5.50 Agricultural Bank Of China Bangkok Bank Public Co. Ltd 6.00 ANZ Singapore Bank of Communications 5.50 Bank of East Asia 6.00 Bank of China Limited ...5.50 Bank of Tokyo-Mitsubishi ...5.50 Banque Internationale a ...5.75 Bank of Singapore BNP Paribas
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    • Article
      Lock icon KLW Holdings names Quek Chek Lan as new CEO
      303 10  -  Latest appointment follows the end of a boardroom fight at the door maker By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore CATALIST-LISTED KLW Holdings has appointed Quek Chek Lan as chief executive officer effective Oct 16. The latest appointment follows the end of
      303 words
    • Article
      Lock icon DIVIDENDS ANNOUNCED
      952 10 Payment Ex Rec Pay Ann (cts) date date date date AIMS Prop Secu do 0.122 28-Sep 30-Sep 18-Dec 23-Sep ASL Marine Hldgs ak 0.400 04-Nov 06-Nov 17-Nov 28-Aug Avi-Tech Electronics ak 0.300 03-Nov 05-Nov 18-Nov 27-Aug Avi-Tech Electronics bh 0.700 15-Feb 17-Feb 29-Feb 27-Aug British Malayan Trustees ak
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    • Article
      Lock icon BROKERS’ RECOMMENDATIONS
      1308 10 Consensus No. of Forecast Mean Fri’s recommendation esti-EPS PE target price Company name This wk Last mth mates (times) Accordia Golf Trt 1.00 1.00 1 0.06 10.30 0.93 0.64 AIMS AMP Cap Industrial Reit 1.00 1.00 1 0.12 11.91 1.77 1.41 ARA Asset Mgt 1.25 1.25 2 0.09
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    • Article
      Lock icon SGX MAINBOARD
      2207 11 Week Ended: Oct 16 52-Wk Last Vol Week Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E $mil 82 42 8Telecom vol Week Div GrYld Net MCap 153 131.5 AIMSAMP Cap Reit 140.5 +2 958 140.5 137.5 1 7.9 891.7 LOW 183 129.5 ARA
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    • Article
      Lock icon SGX CATALIST
      450 11 52-Wk Last Vol Week Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Company Last Sale 13.5 3.9 t Abundance Intl ('000) High week LOW Div 34.5 10 t Alpha Energy 10.4 unch 1827 10.6 10.2 3.8 17 37 GrYld Net P/E MCap 35
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    • Article
      Lock icon SGX ETF
      180 11 52-Wk Last Vol Week Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last 107.7 78.5 CIMB APAC Div US$ US83.7 -2.7 5 83.7 83.7 8.8 1440 991 CIMBASEAN40 S$D 1175 -10 0 1175 1175 1069 700 CIMBASEAN40 US$ US852 -8 76 852
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  • Page 6 Advertisements
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      Lock icon Page 6 Advertisements Column 1
      63 6 FROM THE HEART OF EURASIA FLY TO KAZAKHSTAN AND BEYOND Beijing Almaty Bangkok Almaty Kuala Lumpur-Almaty 5 a week 7 a week 3 i* a week Beijing Astana Bangkok Astana Ho Chi Minh Almaty 3 a week 2 a week 2 zf- a week •<£ air astana Hong Kong Almaty
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    • Advertisement
      Lock icon Page 6 Advertisements Column 2
      15 6 Brand Your Assets Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your Financial Statements
      15 words
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
      84 7 IN A CHANGING WORLD, TENNIS FANS TRAIN AS HARD AS THE PLAYERS. Wf'-' w Mr W m m A > \V3T-. JOHN M mm TENNIS PAH ACADfMY y V SUPPORT TENNIS LIKE NEVER DEFORE We want to see you join a crowd that is more passionate, more committed; wilder and
      84 words
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  • Page 9 Advertisements
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      Lock icon Page 9 Advertisements Column 1
      160 9 Enjoy zero-commission trading and tight spreads*. Trade Forex with Phillip Futures 6538 0500 futures@phillip.com.sg www.phillipfutures.com.sg 250 North Bridge Road #07-01 Raffles City Tower Singapore *****1 *Terms and conditions apply. This advertisement is for general information only and does not constitute a recommendation, offer or solicitation to buy or sell any
      160 words
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  • Page 11 Advertisements
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      Lock icon Page 11 Advertisements Column 1
      70 11 SGX== Access the world Capture opportunities in global stock markets with Exchange Traded Funds. Find out more at sgx.com/etf Singapore Exchange This advertisement has b®Ffpublished for general circulation only. It is notHfl offertir solicitation to buy or sell,*or financial advice or recommendation In relation, to any nvestment product. Advice should
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  • VIEWS FROM THE TOP
    • Article, Illustration
      Lock icon Future-proofing Singapore
      6731 12 THIS WEEK’S TOPIC: What would be most essential for ensuring that the Singapore economy remains vibrant amid slowing global growth? How should Mr Heng Swee Keat’s new economic committee position Singapore for the future? Chia Ngiang Hong President Singapore Green Building Council SINGAPORE’S economic policies have always been
      PHOTO: BLOOMBERG  -  6,731 words
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  • BT-CITIBANK YOUNG INVESTORS’ FORUM
    • Article
      Lock icon What investors expect from China’s 5th Plenum
      845 14  -  A key focus of the market will be on the average growth rate that the government sets for 2016-2020, with expectations of a lowered target rate. BY AIDAN YAO BY AIDAN YAO T The writer is senior emerging market economist at axa investment
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    • Article, Illustration
      Lock icon ‘Don’t trust the P/B ratio’
      753 14  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore INVESTORS cannot rely just on the price-to-book (P/B) ratio to make investment decisions, said a speaker at an investment fair last Thursday. Among the problems with using P/B exclusively is how intangible assets have been taking up a bigger
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    • Article, Illustration
      Lock icon Do investors need to worry about currency wars?
      787 14  -  By Alan Cauberghs T The writer is Schroders’ senior investment director of fixed income Singapore CURRENCY wars have become a regular feature in headlines, but what exactly is a currency war, and how will it affect you as an investor? The summer
      PHOTO: BLOOMBERG  -  787 words
  • Page 14 Advertisements
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      Lock icon Page 14 Advertisements Column 1
      105 14 GET STARTED NOW Be a young investor Do you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to
      105 words
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  • REAL ESTATE
    • Article
      Lock icon M’sian top fund buys property stocks at 32% discount
      720 15 Valuations have come to a point that it is worthwhile to start buying, says Eastspring’s chief investment officer BLOOMBERG Kuala Lumpur MALAYSIA’S top-performing fund is buying the nation’s property companies after a slump in shares left valuations at their cheapest level
      BLOOMBERG  -  720 words
    • Article, Illustration
      Lock icon German property market sees takeover surge
      662 15 AFP Frankfurt GERMANY’S real estate sector is riding a wave of mergers and acquisitions, as market players seek to take advantage of low interest rates and the relative lag in property prices compared with those in neighbouring countries. Last week, the sector’s number one
      AFP; PHOTO: AFP  -  662 words
    • Article
      Lock icon NYC’s Stuyvesant Town said to be for sale with Blackstone weighing bid
      672 15 80-acre property may change hands for more than record US$5.4b paid near market peak in 2006 BLOOMBERG New York MANHATTAN’s Stuyvesant Town-Pe-ter Cooper Village apartment complex is being prepared for a sale, five years after its prior owners
      BLOOMBERG  -  672 words
  • Page 15 Advertisements
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      Lock icon Page 15 Advertisements Column 1
      378 15 Deutsche Asset Wealth Management ETFs made easy Invest for the future at low cost with 10 ETFs now reclassified as Excluded Investment Products (EIPs) and available to all investors from Deutsche Asset Wealth Management, Singapore's largest ETF provider*. 'psY-pyrm, For more information: Website: etf.deutscheawm.com/SGP I Hotline: +65 6238 8868 I
      378 words
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  • ENERGY & COMMODITIES
  • Page 17 Advertisements
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      Lock icon Page 17 Advertisements Column 1
      122 17 Xi: ‘Sluggish’ global economy depressing China’s growth, Page 19 Wine, Dine Hospitality Highlights V;.:* ’..v 5 ra PEACH BLOSSOMS Peach Blossoms Autumn Delicacy 19 October 30 November 2015 The Shanghainese know it is autumn when this mitten-wearing crustacean fills the markets and restaurants; Peach Blossoms air-flown our autumn delicacy for
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  • TECHNOLOGY
    • Article, Illustration
      Lock icon Brocade bets its future on new networks
      1241 18  -  CEO Lloyd Carney says existing networks have not changed in 20 years and cannot cope with today’s social and cloud driven demands By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore TECHNOLOGY is undergoing a major transition because of social media, mobile computing, cloud services,
      1,241 words
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      Lock icon Alibaba offers to buy online video service Youku Tudou
      369 18 NYT Hong Kong THE Alibaba Group said on Friday that it had offered to pay about US$3.6 billion to buy the Chinese online video site Youku Tudou, continuing a streak of investments and buyouts. But Alibaba is most likely less interested
      NYT; PHOTO: BLOOMBERG  -  369 words
    • Article
      Lock icon California tech boom drives muni-bond rally
      652 18 WP San Francisco BOND investors are betting that a resurgent technology-fuelled boom in the Golden State is not just California dreaming. The state, which faced ballooning budget shortfalls after the housing crash, is selling about US$961 million in general-obligation bonds this week, its last
      WP  -  652 words
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      Lock icon IBM allows some governments to review its source code
      343 18 REUTERS San Francisco INTERNATIONAL Business Machines Corp said on Friday it allows certain countries to review, under strict control, portions of the US technology company’s product source code to detect any security flaws in its software. China is among those countries,
      REUTERS  -  343 words
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  • CONSUMER
    • Article
      Lock icon Africa know-how makes SABMiller a good partner
      826 19 Its strong presence in the continent is seen as a key driver of AB InBev’s planned takeover of the brewing giant AFP Johannesburg AFRICA is hosting its biggest beer festival: a marathon tour of Johannesburg, Cape Town and Durban serving more than 35,000
      AFP  -  826 words
    • Article, Illustration
      Lock icon Novartis cancer drug may also work for Parkinson’s
      312 19 BLOOMBERG Berlin A NOVARTIS AG drug used for treating leukemia may also work for patients with Parkinson’s disease, judging from one small and early clinical test. An early stage trial conducted by the Georgetown University Medical Center found a small dose of
      BLOOMBERG; PHOTO: BLOOMBERG  -  312 words
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      1215 19 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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      95 19 NOTICE OF INTENDED PREFERENTIAL DIVIDEND Name of Company S.H. INTERDECO PTE. LTD. (In Liquidation) Company Registration No. *****1587G Address of former registered office 19 Senang Crescent, Singapore *****2 Court High Court of the Republic of Singapore Number of Matter Companies Winding-up No. 54 of 2015 Last day of receiving proofs
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      853 19 AVAGO TECHNOLOGIES LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number *****0713C) NOTICE OF COURT MEETING OF AVAGO SHAREHOLDERS TO BE HELD NOVEMBER 10, 2015 IN THE HIGH COURT OF THE REPUBLIC OF SINGAPORE Originating Summons Number 828 of 2015 In the Matter of Avago Technologies Limited (RC No.
      853 words
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  • GOVERNMENT & ECONOMY
    • Article
      Lock icon Xi: ‘Sluggish’ global economy depressing China’s growth
      696 20 He pledges to deepen market-oriented financial reforms and to develop an open, transparent capital market BLOOMBERG REUTERS Beijing A “SLUGGISH” world economy is weighing on China’s growth, President Xi Jinping said in an interview with Reuters ahead of his visit to the United
      BLOOMBERG; REUTERS  -  696 words
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      Lock icon Conservative UK lawmakers back Cameron on EU
      260 20 BLOOMBERG London CONSERVATIVE members of the UK parliament support Prime Minister David Cameron’s reform strategy on European Union (EU) membership, Defence Minister Michael Fallon said, when asked about a newspaper report that the premier plans a Cabinet reshuffle to stem a rebellion. “We’re
      BLOOMBERG  -  260 words
    • Article
      Lock icon Myanmar’s central bank revokes forex licences to control ‘dollarisation’
      369 20 REUTERS Yangon THE Central Bank of Myanmar (CBM) has revoked foreign exchange licences issued to hundreds of businesses ranging from hotels to hospitals, in a bid to control “dollarisation” and increase the value of the ailing kyat currency. The CBM sent
      REUTERS  -  369 words
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      Lock icon Weak inflation puts ECB in tight spot at Malta meeting
      726 20 AFP Frankfurt FALLING prices in the eurozone are turning up the heat on the European Central Bank (ECB) to prevent the single currency area from slipping into a dangerous downward spiral of deflation. But many ECB watchers say they do
      AFP; PHOTO: REUTERS  -  726 words
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      Lock icon Tricky issue of gender pay gap surfaces in White House race
      673 20 AFP Washington THE persistent pay gap between women and men in the United States right up to Hollywood stars is emerging as a 2016 campaign issue, but experts said that its root causes are complex. Working American women took
      AFP; PHOTO: AFP  -  673 words
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  • TRANSPORT
    • Article, Illustration
      Lock icon Bombardier, JetBlue in talks on CSeries order: sources
      594 21 Signing up airline would let planemaker make good on a pledge to add well-known carriers to a roster of buyers now dominated by lessors and small airlines BLOOMBERG Montreal BOMBARDIER Inc, struggling to find established airlines as buyers for its new CSeries
      BLOOMBERG; PHOTO: BLOOMBERG  -  594 words
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      Lock icon Ex-VW chief Winterkorn quits as Porsche CEO
      429 21 BLOOMBERG Frankfurt VOLKSWAGEN AG’s former chief executive officer Martin Winterkorn stepped down from his post running Porsche Automobil Holding, VW’s biggest shareholder, succumbing to pressure to cut his ties amid an investigation into cheating on emissions tests. VW chairman Hans Dieter Poetsch, who
      BLOOMBERG; PHOTO: AFP  -  429 words
    • Article
      Lock icon VW thinking of cutting down temporary workers
      349 21 REUTERS Berlin VOLKSWAGEN is considering a reduction in temporary workers as part of efforts to offset the cost of the emissions scandal, the carmaker’s works council said on Saturday. A spokesman for the council, a grouping of labour representatives within the company, said
      REUTERS  -  349 words
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      Lock icon United fails to confirm new CEO’s hospitalisation until 24 hours later
      631 21 BLOOMBERG Southfield, Michigan AFTER Oscar Munoz missed a summit with United Airlines union leaders, the carrier told employees that their new chief executive officer “was unable to attend”. He had suffered a heart attack, a person familiar with the
      BLOOMBERG; PHOTO: REUTERS  -  631 words
    • Article, Illustration
      Lock icon Tesla’s new autopilot could lead to unsafe situations
      828 21 WP Washington WHEN Tesla owners activate their car’s new autopilot feature, a warning appears in a small box at the bottom of the dashboard: Always keep your hands on the wheel. Be prepared to take over at any time. Most of Tesla’s
      WP; PHOTO: REUTERS  -  828 words
    • Article
      Lock icon SHIPPING TIMES
      1889 22 MONTREAL 10 120 29/7 30/7 4/8 MONTREAL 10 120 29/7 30/7 4/8 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) SIN PKL KUC KK JKT SUR DEL SOL 030 40 122 26/10 27/10 30/10 PRECIOUS CORAL 001 60 28/10 30/11 3/11 5/11
      1,889 words
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      175 22 Equipment Processing Centre (EPC) within Jurong Port (FTZ) Providing a one-stop solution for all your logistics needs C a l l 8 1 2 1 0 9 6 6 o r e m a i l 2 WA S S I N E P C O p e r a
      175 words
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  • DINING OUT
    • Article, Illustration
      Lock icon Serving delicate beauty on the plate
      965 23  -  Chef Kirk Westaway has got his packaging right but the flavours need to be less reticent. BY JAIME EE NEW CHEF Jaan Level 70 Equinox Complex Swissotel The Stamford 2 Stamford Road Tel: 6837 3322 Open daily for lunch and dinner: 12pm to 2.30pm
      965 words
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      15 23 0 www.omy.sg y. 'i .> P Talk Buzz W kd V BSEmB SCAN WATCH more news.omy.sg
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      33 23 BT Download the new Business Times apps for free. C i i Ct 11IK iii S\KV> TIMI>mwmhii* I O 4L O Download on the AppStore ANDROID APR ON Google play BusinessTimes.com.sg BT digital
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      Lock icon Page 23 Advertisements Column 3
      194 23 Show Me the Money writes about the important economic concepts and investment strategies applicable to stocks investments. Using actual case studies and data, the book illustrates how these strategies worked for the Singapore market over the years. The painful lessons to learn and pitfalls are highlighted as well. The book
      194 words
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon Despite industry crisis, fantasy sports leaders pour on ads
      656 24 Since August, Draft Kings has ploughed US$107.5m into commercials, and FanDuel has paid out US$85.8m NYT New York THE get-rich commercial messages of fantasy sports leaders DraftKings and FanDuel have inundated the airwaves as no advertising category has in recent memory,
      NYT; PHOTO: NYT  -  656 words
    • Article
      Lock icon Australia plans to legalise marijuana cultivation for medicinal uses
      279 24 REUTERS Perth AUSTRALIA is changing its drug laws to allow the cultivation of marijuana for medicinal and scientific uses, removing a major hurdle to the establishment of clinical trials of the drug, the government said on Saturday. Draft amendments to the
      REUTERS  -  279 words
    • Article, Illustration
      Lock icon Beijing promotes low-paid college grads to startup CEOs
      940 24 REUTERS Shanghai QUITTING her job as receptionist, joining rock bands and chancing her tat-too-sleeved arm at small business ventures would once have branded college graduate Ding Jia as a rebel in China. Now she can claim state endorsement as a “creative”. “I
      REUTERS; PHOTO: REUTERS  -  940 words
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  • Page 24 Miscellaneous
    • Miscellaneous
      Lock icon Page 24 Miscellaneous Column 1
      321 24 CRYPTIC CROSSWORD Across 1 The Parisian should be held in scorn, journalist considered (12) 9 Worry about a group of soldiers (4) 10 Ruler had meal behind shelter by river (9) 12 Bad people not right at the outset, beasts (6) 13 For example, backward-looking tyrant confronting American liberal (8)
      321 words
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  • SIAS INVESTORS’ CHOICE AWARDS 2015
    • Article, Illustration
      Lock icon The governance journey never ends
      513 1  -  ‘Still room for improvement’ seems to be the eternal status of governance.BY governance.BY KENNETH LIM kenlim@sph.com.sg @KennethLimBT IMPROVING corporate governance is an endeavour without conclusion. Just as a business strives to grow more this year than it did in the previous year, there is always
      FREEIMAGES  -  513 words
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      Lock icon Sias raises ambitions on investor education
      1414 2  -  Sias chief David Gerald believes that the scope of education programmes should be widened to take a more holistic view of investing. BY KENNETH LIM BY KENNETH LIM kenlim@sph.com.sg @KennethLimBT AWARDS can be given and scores can be ranked, but how much corporate governance
      FILE PHOTO  -  1,414 words
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      Lock icon The state of corporate governance in numbers
      690 4 The broad subject of corporate governance has spawned many studies, rankings and benchmarks. Many of them suggest that corporate governance in Singapore is improving, but still not quite good enough to write home about. We look at some of the key indicators. Governance
      Source: Centre for Governance, Institutions and Organisations; Source: Accounting and Corporate Regulatory Authority; Source: Diversity Action Committee, Diversity Task Force regarding Women on Boards  -  690 words
    • Article, Illustration
      Lock icon Governance you can bank on
      832 5  -  In addition to a comprehensive and tailored induction programme, DBS directors go through a continual development process.BY process.BY KENNETH LIM Derived from the high-est-value chip in a traditional poker set, the “blue chip” label carries certain expectations and connotations. Not every stock gets to be
      FILE PHOTO  -  832 words
    • Article, Illustration
      Lock icon Tackling the peak period AGM crush
      1324 8  -  There’s a need to prevent the clustering of AGMs which hinders shareholders’ attendance and effective participation. BY MAK YUEN TEEN, CHEW YI HONG T Mak Yuen Teen is an associate professor at the NUS Business School where he teaches corporate governance and ethics. Chew
      PHOTO: MORGUEFILE  -  1,324 words
    • Article, Illustration
      Lock icon Board diversity fosters a healthy balance
      1202 9  -  It results in more robust decision-making, stronger corporate governance, less likelihood of groupthink and better returns for investments. BY THE DIVERSITY ACTION COMMITTEE investments.BY THE DIVERSITY ACTION COMMITTEE INCREASING attention is being paid to board diversity and women on boards. Why are these matters
      PHOTO: MORGUEFILE  -  1,202 words
    • Article, Illustration
      Lock icon A key to unlock audit matters
      1294 10  -  KAMs let investors know, at the onset, about the existence of and considerations for important accounting judgements.BY judgements.BY LIM AI LEEN, TAN BOON SENG T Lim Ai Leen is former executive director, Technical Knowledge Centre Quality Assurance and Tan Boon Seng is assistant director,
      FILE PHOTO  -  1,294 words
    • Article, Illustration
      Lock icon A sustainable conversation
      4061 12 Companies that include sustainability reporting give a more comprehensive account of their corporate performance Companies that include sustainability reporting give a more comprehensive account of their corporate performance ROUNDTABLE PARTICIPANTS I Patrick Chew, chief executive, Midas Holdings I Ng Yat Chung, president and chief executive, Neptune Orient
      4,061 words
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      237 1 inside Sias raises ambitions on investor education.......................... Page 2 The state of corporate governance in numbers......................Page 4 Governance you can bank on Page 5 Tackling the peak period AGM crush Page 8 Board diversity fosters a healthy balance............................... Page 9 A key to unlock audit matters Page 10 A sustainable
      237 words
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      104 2 Special thanks to SIAS and our investors for your recognition and support We are honoured to be recognised by SIAS and our investors at the 16th Investors’ Choice Awards. The success of A-REIT is built upon a strong foundation of good corporate governance practices and a high level of transparency.
      104 words
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      137 4 SIAS INVESTORS’ CHOICE AWARDS 2015 Singapore Corporate Governance Award (Big Cap) Runner Up Keppel Corporation Limited Internal Audit Excellence Award Runner Up Keppel Corporation Limited Most Transparent Company Award (REITs Business Trusts) Runner Up Keppel REIT Management Limited Most Transparent Company Award (New Issues) Runner Up Keppel DC REIT Management
      137 words
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      76 5 WINNER MOST Transparent COMPANY AWARD Catalist Category NEO GROUP LIMITED mmmm t E SIAS Choice Awards 16 th INVESTORS' CHOICE AWARDS 2015 jjlUffP) c*qf? ft COMMITTED TO EXCELLENCE IN CORPORATE GOVERNANCE AND TRANSPARENCY a r Hgf MEMBERS OF NEO GROUP W Qs6\ f* Dell hub CATERING K J umisushl INEO
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      132 8 > OKP HOLDINGS LIMITED SMS HflfnWGSi&ffS* €fh®fi@e Mwwrds Most Transparent Company Award 2015 Construction and Materials Category Mainboard Small Caps Category SIAS Choice Awards 2015 Our Corporate Profile We are a leading home-grown infrastructure and civil engineering company, specialising in the construction of expressways, flyovers, vehicular bridges, urban and arterial
      132 words
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      109 8 h 25 I 200 250ml 100ml 100ml 150 -V ■J 100 SAeqaChenT WO J2 r n 50 52 l; Developing Strong Chemistry Worldwide MegaChem is honoured to be a recipient of the SIAS Investors’ Choice Awards 2015 in the category of “Most Transparent Company Award (Catalist) Runner Up”. MegaChem is
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      133 9 Putting Corporate Governance and Transparency First t I SIAS Choice Awards 2013 Capri by Fraser, Kuala Lumpur, Malaysia FRASERS CENTREPOINT Most Transparent Company Award 2015 Runner-up in the Real Estate Category Internal Audit Excellence Award Runner-up A FRASERS COMMERCIAL TRUST Singapore Corporate Governance Award 2015 REITs and Business Trusts Category
      133 words
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      136 10 Instilling Confidence. Inspiring Excellence. Koh Brothers clinches the SIAS Investors’ Choice Awards (Most Transparent Company Award) for the second consecutive year! Westwood Residences Sun Plaza Parc Olympia Alocassia This is a true testament of Koh Brothers’ commitment to its shareholders and business partners by adhering to the most stringent corporate
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      104 11 TWICE HONOURthe It is a double celebration as we have received two prestigious awards at the 16th SIAS Investors’ Choice Awards Most Transparent Company Award 2015. Singapore Press Holdings Limited and SPH REIT clinched the runner-up positions for Service Category and New Issues Category respectively. Our financial journalists have also
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