The Business Times, 24 October 2015

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Total Pages: 51
1 12 The Business Times
  • 20 1 weekend JHE BUSINESS TIMES www.businesstimes.com.sg OCTOBER 24-25, 2015 l 5:31.00 MCI (P) O40/08/2015 I sph A SINGAPORE PRESS HOLDINGS PUBLICATION
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  • Page 1 Advertisements
  • 1048 1  -  Views are split on whether HDB prices are stabilising; private-market stability still a way off By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore RESIDENTIAL property prices continued to fall in the third quarter, with the year-to-date drop in the Urban Redevelopment Authority’s private home price
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  • 31 1 PROPERTY COMMERCIAL leasing is dealt a bigger blow from economic headwinds, as businesses become increasingly cautious when it comes to buying or renting space. 4
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  • 33 1 CONSUMER BUS and train fares will come down by 1.9 per cent due to lower oil prices, the annual fare review by the Public Transport Council shows. 5
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  • 32 1 COMPANIES TIGER Airways posts a sharply smaller net loss of S$12.76 million for the three months ended Sept 30, 2015 from S$182.38 million previously. 10
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  • 43 1 COMPANIES INSURER Great Eastern’s net profit for the third quarter falls a staggering 65 per cent to S$68.4 million, hammered by the widening of credit spreads, decline in equity prices and fall in long-term interest rates. 17
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  • 492 1  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur WITH an eye on the 2018 general election, Malaysian Finance Minister Najib Razak tabled a budget for 2016 that appeared to pay particular attention to his administration’s target groups: the Malays, rural folk, civil servants, and the East
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  • Page 2 Advertisements
    • 51 2 CONTENTS NEWS Top Stories 2-6 Raffles Conversation 8-9 Companies Markets 10-14 Real Estate 15-16 Banking Finance 17 Energy Commodities 18 Technology 19 Consumer 20 Transport 21 Govt Economy 22-24 Opinion 26-27 Wealth 28-30 LIVING Dining L2-4 Travel L5 Dining/Travel L6 Style L7-8 Health L9 Motoring L10-11 Sports L12 Life Culture
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  • TOP STORIES
    • 577 2  -  MAS and MTI attribute this to rise in services inflation By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore DESPITE the usual drops in car prices and accommodation costs, Singapore’s inflation rate in September rose marginally but remained in negative territory for the 11th straight
      Source: Department of Statistics  -  577 words
    • 316 2  -  By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore MANUFACTURING giant Rolls-Royce opened the new Asia headquarters of its engine-manufacturing subsidiary MTU here on Friday, with the aim of strengthening its land and sea operations in the region, and help it tap the region’s
      PHOTO: SEAH KWANG PENG/THE STRAITS TIMES  -  316 words
    • MARKETS
      • 59 2 GSTI 3,068.46 (+30.35) GSTI FUTURES 3,067.00 (+32.00) GSIMSCI 344.46 (+4.08) GSIMSCI FUTURES 344.80 (+4.20) STOCKS Friday Change KL COMP 1,710.93 +5.84 NIKKEI 225 18,825.30 +389.43 HANG SENG 23,151.94 +306.57 SET 1,416.14 +0.34 JAKARTA 4,653.15 +68.58 MANILA 7,236.38 +118.60 KOSPI 2,040.40 +17.40 SHENZHEN B 1,160.88 +21.03 MUMBAI IND 27,470.81 +183.15
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      • 29 2 SINGAPORE 5.35 MALAYSIA 6.85 HONG KONG 5.00 INDONESIA 14.594 TAIWAN 4.966 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 2.70 SWITZERLAND 0.50 INDIA 14.05 Source: Bloomberg
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      • 49 2 US$ S$ US$ (S$ per US$) 1.387 (US$/S$ per 1.541 2.136 EURO (US$/S$/€ 1.111 1.540 Foreign currency per US$ S$ YEN 120.40 86.80 RM 4.225 3.046 HK$ 7.750 5.589 BAHT 35.43 25.55 RUPIAH 13,618 9,820 RENMINBI 6.359 4.585 INDIAN RUPEE 64.92 46.81 A$ 1.376 0.992 NZ$ 1.461 1.054
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    • 445 3 Central bank again lowers amount of cash lenders must hold as reserves Reuters Beijing CHINA’S central bank cut interest rates for the sixth time since November on Friday, and it again lowered the amount of cash that banks must hold as reserves
      Reuters  -  445 words
    • 812 4  -  Consultants blame grim economic outlook for crimping demand from businesses By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore COMMERCIAL leasing was dealt a bigger blow from economic headwinds in the third quarter, as businesses become increasingly cautious when it comes to buying or renting
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    • 153 5 Reuters Hong Kong SINGAPORE’S biggest lender DBS Group Holdings and South African banking group FirstRand are in separate talks to buy Royal Bank of Scotland Group plc’s (RBS) India unit, people with direct knowledge of the matter told Reuters.
      Reuters  -  153 words
    • 647 5  -  SMRT, SBS Transit to take S$36.1m revenue hit next year as a result By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore SMRT Corporation and SBS Transit are expected to suffer revenue loss of S$36.1 million next year, following a cut in bus and
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    • 720 6  -  World’s No 3 has packed schedule in Singapore ahead of tournament By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore SEVERAL hundred people, champagne flutes and cameras in hand, are gathered at the lobby of the luxurious Fullerton Bay Hotel in the heart of
      PHOTO: REUTERS  -  720 words

  • Page 3 Advertisements
    • 113 3 Credit Suisse How does Roger keep hi* Private Banking team within reach? Many of our Private Banking capabilities can now new digital platform. So Roger can keep in touch team and in control of his finances, even when he Watch Roger explain how our new digital platform credit-suisse.com/sg/privatebankingapp be accessed
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  • Page 5 Advertisements
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  • Page 6 Advertisements
    • 140 6 BT Infographics OH MARIA! The world’s No 3-ranked tennis player Born April 19, 1987 (age 28) in Russia Resides in Florida Ranked by Forbes as the world’s highest-paid female athlete for the 11th straight year Her sponsors are Nike and Head. Other major Sharapova partners include Evian, Porsche and Tag
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  • Page 7 Advertisements
    • 38 7 Mr Chia Chor MengBBM Group Chairman CKL HOLDINGS PTE LTD HI3D0 CKL HOLDINGS PTE LTD on being appointed as aJustice of Peace (JP) by His Excellency, The President of The Republic of Singapore From the Management and Staff
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  • THE RAFFLES CONVERSATION
    • 2158 8 / 9  -  (knowledge)gap Hans Rosling, one of Sweden’s pioneer stay-home Dads, has been feted as a leading global thinker. He wants to banish ignorance in the world, by making statistics sing and, sometimes, swallowing swords. By Andrea Soh sandrea@sph.com.sg @AndreaSohBTk DO an online search for Hans Rosling, and
      PHOTO: GAPMINDER FOUNDATION  -  2,158 words

  • Page 10 Advertisements
  • COMPANIES & MARKETS
    • 510 10  -  Spike in maintenance charges erodes benefits of cheaper fuel as passenger seat revenue rises By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore ANALYSTS zoomed in on a sharp spike in maintenance charges that eroded the benefits of cheaper fuel for budget carrier Tiger Airways at
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    • 391 10  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore TRADING in OSIM International, which runs franchised GNC stores in parts of Asia, was unaffected by news on Friday that GNC was being sued by the US state of Oregon for selling supplements
      Source: Bloomberg  -  391 words
    • 349 10  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore FULLERTON Healthcare Group has clarified that seeking an initial public offering (IPO) “is one of many options” that it is exploring for fundraising and expansion purposes, quashing earlier market talk that the healthcare group was
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    • 215 10 Reuters Singapore OIL rig builder Keppel Corporation Ltd said it may face an investigation into deals with Brazilian state-run oil company Petrobras and rig builder Sete Brasil. A Brazilian parliamentary commission of inquiry backed further investigations into 10 companies it identified as
      Reuters  -  215 words
    • 937 11  -  With losses from discontinued operations, loss attributable to owners of company is US$7.8m By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore EZRA Holdings posted Q4 profit from continuing operations of US$8.9 million, compared to a restated loss of US$7.1 million the year before.
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    • 268 11  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore COMMERCIAL property landlord Frasers Commercial Trust (FCOT) expects to raise rents in Singapore upon lease renewals next year, it said on Friday as it released fourth-quarter earnings. The trust, which owns three properties in Singapore and three in
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    • Corporate digest
      • 43 11 HPH Trust on Friday posted a net profit of HK$525.9 million (S$94.6 million) for its third quarter ended Sept 30, 2015, up 7.2 per cent from HK$490.7 million. Revenue and other income rose 2.3 per cent to HK$3.5 billion.
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      • 38 11 SABANA Shari’ah Compliant Industrial Real Estate Investment Trust has issued 1.69 million units to Sabana Real Estate Investment Management at 76.33 Singapore cents per unit as payment for 80 per cent of the base management fee.
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      • 45 11 SERVICED residence operator The Ascott Limited, a unit of CapitaLand, has bagged a contract to manage its first serviced residence in Cambodia. The serviced residence, called Somerset Norodom, will open in Phnom Penh in 2018 and will be Cambodia’s first international serviced residence.
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      • 41 11 CAPITALAND Mall Trust (CMT) has utilised S$15.1 million remaining proceeds from a S$250 million private placement exercise done four years ago to pay for committed capital expenditure and asset enhancement initiatives (AEI) of the properties in its portfolio.
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      • 46 11 FIRST Sponsor saw a 15 per cent rise in net profit for the third quarter ended Sept 30 to S$17.1 million, thanks to stronger performance in property and property financing businesses. Group revenue rose 31.6 per cent to S$72 million from a year ago.
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      • 84 11 SAIZEN Real Estate Investment Trust’s manager has received a firm offer for the Reit’s assets. The Reit’s manager Japan Residential Assets Manager Limited said a recently-set up independent evaluation committee and joint financial advisers are currently reviewing and evaluating the offer. In a statement, the manager said no
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    • 307 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 250 cd +5 252/248 271 213 5.8 6326.1 CapitaLand 314 +5 315/312 379 267 11.5 2.9 *****.9 CapitaMall Trust 205 cd +2 207/204 228 184.5 5.3 7114.3 CityDev 840 +16 840/828 1095
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    • 107 12 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 311 +3 260 311/310 355/280 310/311 IS MS INDIA US$ US723 +2 164 733/711 1000/648 723/727 90.4 DBXT MSTaiwan US$ US1993 83 -/-2392/1788 2024/2030 11.3 DBXT MSRussia US$ US189 +3 35 189/189 245/140 191/192
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    • 781 12 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Oct 19 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Hotung Invest Hldgs 22-Oct-15 Tsui-Hui Huang *Buy 125 0.13 *****3 20.86 *****8 20.87 Boustead S'pore 21-Oct-15 Loh
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    • 186 12 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 6 6 0 0 0 4 6 6 Manufacturing 49 37 25 12 8 7 61 45 32 Commerce 22 18 15 4 5 5 26 23 20 Tpt/Stor/Comms 20 7 8
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    • 121 12 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 21,972 21,972 86,244 86,244 Manufacturing 174,921 100,505 275,426 95,421 5,275 100,696 Commerce 155,922 111,376 267,298 99,175 4,800 103,974 Tpt/Stor/Comms 159,061 1,033 160,094 184,382 93 184,475 Finance 21,538 194 21,732 190,893 28 190,921 Construction 21,930 4,496
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    • 77 12 Oct 23 VALUE CLOSE BT OB/OS 409.00 -112.00 BT CADI -*****.00 +81.00 BT 10-day MA -*****.00 +41.00 FTSE ST Mid Cap 712.10 +6.84 FTSE ST Small Cap 431.86 +1.86 FTSE ST All Share 739.01 +6.96 FTSE ST China Top 182.95 +1.11 FTSE ST China 223.87 +0.65 FTSE
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    • 81 12 VOL CLOSE($) CHANGE Metech Intl 28,853.3 0.004 +0.002 +100.00 EMAS Offshore 5,967.4 0.245 +0.045 +22.50 IP Softcom 15.0 0.025 +0.007 +38.89 Asiatic 30,231.8 0.025 +0.004 +19.05 Metal Component 3,810.1 0.063 +0.007 +12.50 Hi-P 975.7 0.500 +0.050 +11.11 Advanced Systems 3,400.0 0.006 +0.001 +20.00 Saizen Reit 1,416.1 0.925 +0.070
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    • 193 13 Oct-22 Price Net change change Last Trade Agricultural Oct-22 CBOT Soybeans (US cents/bu) 898.75 -6.50 -0.72% 13/11/2015 CBOT Soybean Oil (US cents/lb) 28.85 -0.33 -1.13% 14/12/2015 CBOT Wheat (US cents/bu) 490.75 -4.00 -0.81% 14/12/2015 Oct-22 LIFFE Cocoa (£/tonne) 2141.00 -4.00 -0.19% 14/12/2015 LIFFE Coffee (US$/tonne) 1562.00 9.00 0.58%
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    • 57 13 Oct 23 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Nov 15 2260.0 2251.0 2266.0 2239.0 519 4985 Dec 15 2291.0 2290.0 2303.0 2277.0 3707 ***** Jan 16 2330.0 2328.0 2339.0 2313.0 ***** ***** Feb 16 2364.0 2358.0
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    • 69 13 Oct 23 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0F 1.375 01-Oct-17 100.48 100.56 100.50 5-Year N*****0S 2.000 01-Jul-20 100.97 101.00 101.00 10-Year NX*****Z 2.375 01-Jun-25 99.76 100.00 99.55 15-Year NZ*****F 2.875 01-Sep-30 102.66 102.90 102.55 20-Year NZ*****V 3.375 01-Sep-33 109.84
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    • 155 13 Oct 23 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0079 1.0085 0.7268 0.7272 Canadian dollar 1.0611 1.0615 0.7655 0.7652 Euro 1.5398 1.5402 1.1104 1.1106 NZ dollar 0.9486 0.9491 0.6841 0.6844 Sterling pound 2.1361 2.1368 1.5404 1.5408
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    • 210 13 Oct 23 Most active Prem Expiry Last Vol Conv Exer Disc Gear-Mths Company Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 3.6 -0.1 ***** 1 18 12 UOB MB eCW*****1 14.6 1.1 5890 0.1 2080 3 KepCorp MB eCW*****1 9.1 -0.8 5435 0.2 780 4
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    • 373 13 In local curr In S$ In US$ dy yr dy yr dy yr Oct 22 Index Change Change Change Change Change Change World Preliminary 1283.2 1.1 0.6 0.8 3.8 0.8 -1.4 EAFE Preliminary 1017.9 0.9 3.1 0.1 4.3 0.1 -0.9 Europe Preliminary 1428.2 1.6 3.4
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    • STOCK MARKETS
      • 20 13 YTD change: -8.82% 52-week high: 3,539.95 on April 15,2015 52-week low: 2,787.94 on Sept 29,2015 Source: Bloomberg
        Source: Bloomberg  -  20 words
      • 21 13 YTD change: -1.92% 52-week high: 28,442.75 on April 28,2015 52-week low: 20,556.60 on Sept 29, 2015 Source: Bloomberg
        Source: Bloomberg  -  21 words
      • 22 13 YTD change: +5.50% 52-week high: 5,166.35 on June 12, 2015 52-week low: 2,290.44 on Oct 27,2014 Source: Bloomberg
        Source: Bloomberg  -  22 words
      • Article, Illustration
        19 13 YTD change: +7.88% 52-week high: 20,868.03 on June 24,2015 52-week low: 15,138.96 on Oct 23,2014 Source: Bloomberg
        Source: Bloomberg  -  19 words
      • 26 13 YTD change: -1.87% 52-week high: 18,312.39 on May 19,2015 52-week low: 15,666.44 on Aug 25,2015 (Chart shows Thursday’s index closing) Source: Bloomberg
        Source: Bloomberg  -  26 words
    • 553 14  -  STOCKS R Sivanithy sivan@sph.com.sg @RSivanithyBT Senior Correspondent THE past five days have been all about blue chips and little else with trading in the Straits Times Index’s 30 members providing at least two-thirds of dollar volume every day. Underpinning Friday’s 30.35 points
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    • 76 14 BY CENTS CLOSE UP 52w high/low SPDR DJIA US$ ***** 486.7 2.0 *****/***** DBXT iBoxxSvEu US$ ***** 463.2 1.4 *****/***** DBXT Nifty US$ ***** 374.4 2.1 *****/***** Lyxor Indonesia US$ 7465 356.4 3.6 9182/6250 Jardine C&C 3240 158.0 5.1 4269.7/2636 BY PERCENTAGE CLOSE UP 52w high/low TEE Intl W*****6
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    • 76 14 BY CENTS CLOSE DOWN 52w high/low DBXT S&P Short US$ 2137 -43.0 -1.4 2393/2104 Lyxor Russia US$ 258 -9.7 -2.6 327/188 Sembcorp Id 370 -9.0 -2.4 495/300 Sembcorp Marine 246 -8.0 -3.1 375/210 IS Asia BND US 1045 -6.9 -0.5 1096/1019 BY PERCENTAGE CLOSE DOWN 52w high/low Infinio 0.1
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    • 31 14 VOLUME Noble 109,140,000 Yuuzoo 77,076,100 Ezra 54,184,300 Informatics 50,998,300 StratechGroup 45,633,000 Market volume 1,622,226,000 VALUE Singtel 78,201,722 DBS Grp 67,455,676 Noble 58,552,338 UOB 51,411,941 CapitaLand 42,224,146 Market value 1,030,216,000
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    • 621 14  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore ONE of the most indebted real estate investment trusts (Reits) in Singapore is about to pass the hat around for another bout of equity fund-raising by year-end, after having already done a private placement in
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  • REAL ESTATE
    • 655 15  -  Mature estate location and proximity to good schools will draw bidders, though market headwinds will keep bids realistic: consultants By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore PROPERTY consultants are expecting a good response for a 99-year leasehold private residential site in Clementi Avenue 1 launched
      Source: URA  -  655 words
    • 494 15 Reuters Beijing HOME prices in China rose for a fifth consecutive month in September, suggesting a mild recovery in the housing market that will relieve some pressure on the struggling economy. The sector, which accounts for 15 per cent of
      Reuters; PHOTO: REUTERS  -  494 words
    • 1194 16 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN SEPT 9 AND SEPT 15, 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 Marina Bay Suites Apt 10/09/2015 99 2691 7000 2601 V On Shenton Apt 15/09/2015 99
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  • Page 17 Advertisements
    • 149 17 PEEL RD (Swettenham Rd) *****/ 8500 sf. Modern contemporary, pk 8 cars. Motivated seller, Priced to sell BELMONT ***** sf, rebuild BELMONT ***** sf, Brand new, Priced to sell. Elevated land, nice view BINJAIPK ***** sf, Elevated, Squarish BT TUNGGAL ***** sf, Elevated Brand new, Panoramic view, easy access CHATSWORTH
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  • BANKING & FINANCE
    • 384 17  -  Insurer cites valuation losses and weakening of ringgit By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore HAMMERED by the widening of credit spreads, decline in equity prices and fall in long-term interest rates, insurer Great Eastern’s net profit for the third quarter saw a
      FILE PHOTO  -  384 words
    • 293 17  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore INSURER Prudential Assurance Company Singapore has named a new chief to steer the company the latest in a series of global leadership movements since the departure of group chief executive Tidjane Thiam. Long-timer Philip Seah, 60, had risen through
      293 words
    • 405 17 Bloomberg Washington WALL Street banks will escape billions of dollars in additional collateral costs after US regulators softened a rule that would have made their derivatives activities much more expensive. Two agencies approved a final rule on Thursday that will govern how
      Bloomberg  -  405 words

  • Page 18 Advertisements
  • ENERGY & COMMODITIES
    • 463 18 Pace of deals in oil gas sector picks up as ready buyers eye assets Reuters Melbourne AUSTRALIAN oil and gas producers Beach Energy and Drillsearch Energy Ltd agreed to a billion dollar merger on Friday, the day after Santos rejected a US$5 billion
      Reuters  -  463 words
    • 233 18 Bloomberg New York NATURAL gas markets are so depressed that even bullish news isn’t helping. Futures fell to a 3-year low on Thursday despite a government report that showed a smaller-than-fore-cast gain in US inventories. Stockpiles rose 81 billion cubic feet to
      Bloomberg  -  233 words
    • 604 18 Bloomberg New York FORTY-TWO years and counting. That’s how long it’s taken to get America’s latest nuclear reactor up and running. The stop-start saga behind Unit 2 at the Watts Bar complex near Knoxville, Tennessee, moved a step closer
      Bloomberg; PHOTO: BLOOMBERG  -  604 words

  • Page 19 Advertisements
    • 541 19 NOTICES In The Matter Of The Companies Act, Cap. 50 And In The Matter Of NOOK TRADING PTE. LTD. Company Reg. No. *****9565E Notice of Creditors’ Meeting Pursuant To Section 296 Of The Companies Act, Cap. 50 NOTICE is hereby given that pursuant to Section 296 of the Companies Act,
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  • TECHNOLOGY
    • 586 19 Satellites increasingly viewed by hackers as ‘trophy attacks’ Reuters Jerusalem SPACE, the “final frontier”, is rapidly becoming an extra-terrestri-al battleground for corporate espionage and other types of cyber attack as hackers seek to gain commercial advantage from rival networks operating in the US$330 billion
      Reuters; FILE PHOTO  -  586 words
    • 388 19 Reuters London MICROSOFT Corp reported bet-ter-than-expected quarterly adjusted revenue, boosted by burgeoning demand for its cloud products, sending its shares soaring more than 6 per cent in extended trading on Thursday. Under chief executive Satya Nadella, Microsoft has been shifting its focus
      Reuters; PHOTO: BLOOMBERG  -  388 words


  • Page 21 Advertisements
    • 152 21 THE BUSINESS TIMES NOTICES IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF KNG LAND PTE LTD (In Voluntary Liquidation) (Company Reg. No. 2010-*****-M) NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50 that a Final General Meeting of the
      152 words
  • TRANSPORT
    • 891 21 Already spiralling auto recall may need to be widened, says regulator NYT Washington THE recall of potentially defective Takata air bags, one of the largest and most complex auto recalls in the nation’s history, may grow even larger. Officials from the National
      NYT; PHOTO: REUTERS  -  891 words
    • 596 21 Bloomberg Atlanta UNITED Continental Holdings Inc’s acting chief executive officer promised to keep building on the momentum of the airline’s permanent CEO, who’s out on medical leave, and got a boost from an encouraging profit outlook. Customer-service improvements will be announced
      Bloomberg  -  596 words

  • Page 22 Advertisements
    • 60 22 HOT PROPERTY OPEN HSE SUN 3-6pm Semi-D 61 Dunbar Walk, 1 Unit Sold, 3 left! Land fr 3.28Ksf/ Built fr 5.5k sf. 4/5rms. Lift, Pool. POOLE RD FH 2-sty Semi-d 3647 sf. Good location. Near good sch/ amenities. $14xx psf. Build your dream home LANDED PROPERTIES FOR SALE Check out
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  • GOVERNMENT & ECONOMY
    • 329 22 Bloomberg Seoul SOUTH Korea’s economy rebounded in the third quarter as an outbreak of the Middle East Respiratory Syndrome (Mers) receded and consumers ventured back to the shops, offsetting weakness in sales abroad. Policy makers including Finance Minister Choi Kyung Hwan
      Bloomberg  -  329 words
    • 451 22  -  This follows ECB chief’s remark that fresh stimulus is likely in December By Anthony Rowley btworld@sph.com.sg Tokyo MARKET expectations of further monetary easing by the Bank of Japan (BOJ) as early as next week are mounting, following European Central Bank (ECB) president
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    • 572 22 Reu ters London BUSINESS activity picked up more than expected in the eurozone in October, buoyed by Germany and France, but with no sign of healthy price increases. Survey data released on Friday should be welcomed by the European Central
      Reuters  -  572 words
    • 261 23 Reuters Rome ITALY will raise nearly 3.4 billion euros (S$5.2 billion) from the sale of a minority stake in its post office in a stock market listing welcomed by the government as a vote of confidence for its business reforms.
      Reuters  -  261 words
    • 458 23 ECB chief on Thursday said central bank ready to adjust QE programme Reuters London THE prospect of yet more European Central Bank stimulus pushed world stocks to a two-month high, the euro to a two-month low and left investors paying for the privilege
      Reuters  -  458 words
    • 581 24 Value far exceeds official figures and profits mostly elites AFP Bangkok MYANMAR’S secretive jade industry is worth an estimated US$31 billion, far higher than official accounts, with most profits going to powerful military and ex-junta figures instead of the state coffers, a corruption watchdog
      AFP; PHOTO: AFP  -  581 words
    • 464 24 Bloomberg Jakarta INDONESIA plans to complete a review of its investment regime by the middle of next year, aimed at granting greater foreign ownership in industries ranging from e-commerce to luxury retirement homes. The Indonesia Investment Coordinating Board has asked ministries
      Bloomberg  -  464 words
    • 253 24 Reuters London CHINESE President Xi Jinping has told Britain he wants to see a united European Union, making his most direct comments to date on Britain’s relationship with Europe ahead of the country’s in-out EU membership referendum. On the
      Reuters  -  253 words

  • Page 23 Advertisements
    • 344 23 NOTICES TOLL FREE 1800 -289 882 2 I Email no tices @sph .com sg I w w w. sphclas s .com sg /no tices Company Registration No. *****2868E TENDER NOTICE On behalf of Times Properties Pte Ltd (“Client”), tender is invited for: Supply and Delivery of Electricity for Times Properties
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  • Page 25 Advertisements
    • 57 25 A C A R FOR EVERY PURSE PURPOSE 7 AND 8 NOVEMBER 201 5 SATURDAY SUNDAY 10AM 8PM SINGAPORE EXPO HALL 5 ADMI SS I O N I S FREE “Presenting the best offers from all your favourite brands at the show!” Go to http://www.sphclass.com.sg/cars/ to find out more. ORGANISER
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  • Page 26 / 27 Miscellaneous
  • OPINION
    • 1133 26 / 27  -  The tourism board needs to examine the factors driving tourism demand and supply to keep Singapore’s place as a premier destination. By Joan Henderson By Joan Henderson ~The writer is an associate professor in the Nanyang Business School and a Fellow of the Institute
      PHOTO: AFP  -  1,133 words
    • Article, Illustration
      932 26 / 27 AT 6:10 am on Oct 12, Angus Deaton, an economist at Princeton University on America’s east coast, picked up the phone to a Swedish voice. The voice was so concerned to persuade him that this wasn’t a prank call that he started to worry it was precisely that.
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  • Wealth
    • WEALTH INVESTING
      • 1317 28 / 29  -  Saudi philanthropist starts series of online courses to benefit millions by developing sharper managers of non-profit groups. By Paul Sullivan By Paul Sullivan NYT GAYATRI Ganesh, director of development at the Christian Hospital, a rural hospital in Mungeli, India, says she hopes to
        NYT; PHOTO: NYT  -  1,317 words
      • 401 28 / 29  -  Compiled by Claire Huang Sembcorp Marine Sell KGI Fraser Securities, Oct 23 Oct 23 close: S$2.46 Target price: S$2.07 SembMarine’s Q3 FY2015 core net profit of S$49 million (-63 per cent year on year) was below our expectations, with nine-month 2015 core net profit making up 49 per
        401 words
      • 798 30 Bond market getting more discriminating amid fear of low growth Bloomberg New York NEWLY armed with an investment grade rating and looking to tap debt markets for the first time, the chief financial officer of retailer Fossil Group didn’t like what he saw
        Bloomberg; PHOTO: REUTERS  -  798 words
      • 555 30 Bloomberg New York STOCKS fell so far and so fast in August that at its depth, the Standard Poor’s 500 Index was 15 per cent away from the average year-end prediction of Wall Street strategists. Now it’s 5 per cent and the
        Bloomberg; PHOTO: AFP  -  555 words


  • Page 31 Miscellaneous
    • 313 31 CRYPTIC CROSSWORD Across 1 Pleasure is fantastic, possibly embracing love (12) 9 A soft extremity in leaf insect’s leg perhaps (9) 10 Good-for-nothing compiler had line with Queen (5) 11 Consent for each male before sex (6) 12 Wealth posh left in old money? (8) 13 More agreeable pocketing a
      313 words
  • LIFE & CULTURE
    • 641 31 Raf Simons’s decision comes as surprise to fashion world; he had not been seen as being unhappy in his post NYT New York IN its second major creative upheaval in the last five years, Christian Dior, the Parisian couture house that is the cornerstone
      NYT  -  641 words
    • 427 31 NYT Hong Kong WHAT, exactly, does that scowling, red-faced emoji mean? I’m mad? Frustrated? Sunburned? The question, which has plagued more than a few text-message exchanges, became a topic of debate in the Australian Senate on Thursday, when Foreign Minister Julie Bishop’s
      NYT  -  427 words

  • Page 32 Advertisements
    • 115 32 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE VALLÉE DE JOUX. FOR MILLENNIA A HARSH, UNYIELDING ENVIRONMENT; AND SINCE 1875 THE HOME OF AUDEMARS PIGUET, IN THE VILLAGE OF LE BRASSUS. THE EARLY WATCHMAKERS WERE SHAPED HERE, IN AWE OF THE FORCE OF NATURE YET DRIVEN TO MASTER
      115 words

  • Page 1 Advertisements
    • 61 1 THE BUSINESS TIMES WEEKEND OCTOBER 2 4 25 2015 BT Living MAKAN IN THE USA Singaporean cuisine finds favour in the US L2-4 PHOTO: CASSIA RESTAURANT/ RICK POON TRAVEL Grand designs L5 DINING Oishi Japan! L6 MOTORING The new Renault Clio L10 STYLE Out of the box L7 NO HOLDS
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  • BT Living
    • DINING
      • 2054 2 / 3  -  Ahead of Anthony Bourdain’s mega food court, a small group of dedicated Asian chefs have already brought Singapore’s distinct mix of hawker cuisine to America, proving beyond doubt that they aren’t just playing masak masak. By Jaime Ee By Jaime Ee jaime@sph.com.sg IF Anthony Bourdain builds
        2,054 words
      • 525 4  -  By Helmi Yusof SIMPSON Wong didn’t last two weeks in the New York F&B business when he started out in 1988 as a busboy. He was fired for not showing up at work on time, which he couldn’t really help because he was still
        525 words
      • 1001 6  -  Oishii Japan gives Japanese food-lovers a peek into what might hit supermarket shelves and restaurant menus in Singapore soon. By Rachel Loi By Rachel Loi @RachelLoiBT rachloi@sph.com.sg WHEN Masanao Nishida first launched Oishii Japan in Singapore four years ago, he had to personally go knocking on every
        PHOTOS: JOSEPH NAIR  -  1,001 words
    • TRAVEL
      • Article, Illustration
        494 5  -  Frasers Hospitality collaborates with Mercedes Benz in a unique design partnership. By Avanti Nim By Avanti Nim avantin@sph.com.sg LIVING in your car isn’t necessarily a bad thing, especially not when Mer-cedes-Benz has been spinning its wheels for about a year to figure out how best to transform the
        PHOTOS: FRASERS HOSPITALITY  -  494 words
    • STYLE
      • Article, Illustration
        812 7  -  With Louis Vuitton left as the only major trunk maker in France, an independent artisan has been reviving the art of trunk-making, one bespoke bolt at a time. By May Yip By May Yip WANT a customised trunk for your bonsai plants, complete with shears and
        812 words
      • Article, Illustration
        731 8  -  With Pac-man and other ’80s pop cultural references headlining his 10th anniversary collection, it’s clear that shoe designer Nicholas Kirkwood isn’t about to dial down his style anytime soon. By May Yip WHEN your signature style features four-inch stiletto heels, zigzag cut-outs and platforms the shape of
        731 words
    • HEALTH
      • 733 9 Walking helps reduce and treat chronic illnesses such as high blood pressure and diabetes WP Washington CROSSFIT, Insanity, Pure Core. Every year, new hard-core players and routines make a splash on the fitness stage. But truthfully, they stick with only about 20 per cent
        WP  -  733 words
    • MOTORING
      • Article, Illustration
        652 10  -  The Renault Clio with a new body and 1.5-litre turbodiesel continues to look better. By Samuel Ee samuelee@sph.com.sg THE individual tweaks may be too subtle to notice but slowly and surely, the styling of the Renault Clio has become more and more delectable. Now, the latest version
        652 words
      • 298 11  -  The facelitted Lexus ES is introduced together with a menu specially crafted by Jaan. By Samuel Ee SPENDING an evening 70 floors up, sipping on mushroom broth and nibbling on A5 wagyu is as emotional an experience as sitting in the back of the new Lexus
        298 words
      • 181 11  -  By Samuel Ee samuelee@sph.com.sg WEARNES Automotive’s grand opening next Friday of its Aston Martin showroom in the prime Leng Kee motor belt will be attended by a very special guest the DB10 (right). The sensually styled coupe was specially created by the British sports
        181 words
    • SPORTS
      • 971 12  -  no holds barred Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Correspondent ~What: Societe Generale Singapore Cricket Club International Rugby 7s When: Oct 30 to Nov 1 Where: The Padang Tickets: From S$15 at Sistic outlets Details: www.sccrugbysevens.com IT’S a pretty good time to be a rugby fan in
        971 words

  • Page 4 Advertisements
    • 708 4 wine&dine with BTWeekend AquaMarine Marina Mandarin Singapore 6 Raffles Boulevard, Level 4Z6845-1111 Halloween Spook off and scream for more with the scariest bites at AquaMarine this Halloween. AquaMarine is a unique concept restaurant that beckons with an air of welcoming grace and relaxed charm, featuring a diversified buffet spread of
      708 words

  • Page 5 Advertisements
    • 179 5 A LAP OF LUXURY SECOND TO NONE Your quintessential getaway to New Zealand’s North Island rustic perfection 8D Travel North Island in Style Auckland Rotorua Hawke’s Bay Taupo Waitomo Matamata Highlights Return Airfare by Singapore Airlines Suites (A380) 2N Accommodation at 5★ Solitaire Lodge in Rotorua 1N Accommodation at 5★
      179 words




  • Page 9 Advertisements
    • 110 9 Clear Skin Clean Look with Twin Laser Program to target stubborn pigmentation for clearer skin: -Q- Dark Spots CSK AESTHETICS Member of ClearSK Group Melasma O Freckles TWIN LASER STARTER PROGRAM N- Laser Y-Laser $198 Find out more at www.cskdinics.com/A4 or SMS to 9710 8808 "A4-Name, Enquire" LI r Performed
      110 words




  • Page 1 Advertisements
    • 69 1 24-25 OCTOBER 2015 THE BUSINESS TIMES WEEKEND clive agran building golf courses with no hazards, bunkers and obs jordan spieth exclusive ‘i’ve heard nothing but great things about sentosa’ spencer robinson asian golf has yet to fulfil its promise OYSTER PERPETUAL ROLEX DEEPSEA ROLEX <C>cortinawatch aatt* CHINATOWN POINT, #01-08/09. TEL:
      69 words

  • THE BUSINESS TIMES WEEKEND Swing
    • editor’s letter
      • 465 2  -  BY S. MURALI I know it is cruel to point out, but the two players who choked at the conclusion of the recent Presidents Cup, which was played in Asia for the first time, were Asian. On the decisive 18th hole, India’s Anirban Lahiri
        FORMER US PRESIDENT BILL CLINTON  -  465 words
    • 698 3 The 50th staging of the Singapore Open could not have attracted a bigger gol fi ng personality. Jordan Spieth, world No. 2-ranked golfer, winner of two Majors this year and Golfer of the Year 2015 will lend his credentials to the country's national Open, which will
      698 words
    • Article, Illustration
      3517 4 / 5  -  YOCOMIking camErOn mccOrmIck On THE TrIck TO TEacHIng jOrdan sp ETH and sOmEOnE LIkE yOu WITH WITH GUY YOCOM Late in April, after Jordan won the Masters, we were reflecting on his performance, his opening-round 64 in particular. t was pretty much flawless, one shot off tying
      photos by Dom Furore, Sam Greenwood/Getty Images  -  3,517 words
    • 810 6  -  if watfSPE hen Yang Yong fifth in this year’s UE Lun hunted Sh1P- V V Desplte those gall; d0VVn 1130? “Gods golfers in general ha\ [0 I in the Us PC!‘ in the four tournarne the yardstick by whicl Champlonshlp 111 is measured, NV Just
      photos: Afp and courtesy of Asia-Pacific Amateur Championship  -  810 words
    • 955 7  -  V "Eh. I C] hf ith a hard—ea1 forthright, let would you be vx off your handica equipment, quite superb publicatior surely each shot off two, three, four or rn ith a hard-earned reputation for being blunt and forthright, let me come straight to
      955 words
    • 678 8  -  UNDERCOVER TOUR PRO Max Adler The US PGA Tour arranges our lockers in alphabetical order. Week in and week out, you’re changing your shoes and unpacking your bags next to the same handful of guys. My best friends are mostly my peers, guys
      678 words
    • Article, Illustration
      490 8  -  SAVE YO L ERMATOLOGY SPECIALIST (BELOW) GIVES GOLFERS TIPS TO AVOID THE WORST FROM THE SUN AND HAZE BY ARUL JOHN r Gavin Ong, Specialist in ermatology, The Skin Specialist, a Singapore Medical Group clinic, answers queries about skin problems faced by golfers. What are the most
      photos by Jamie Squire/Getty Images, courtesy of SMG  -  490 words
    • 455 9  -  F An AppreciAtion of the indomitAble GAry plAyer As he turns 80 BY GUY YOCOM AN APPRECIATIOP THE INDOMITABLE PLAYER AS HE TUI or Gary P1ayer’s 80th I on Nov 1, friends and gather to deliver cards, of memories, 80 birthc and a pinch
      photo by AFP  -  455 words
    • tried & tested
      • 264 10  -  BY TAN JU KUANG Titleist isn’t a brand that rolls out new clubs just for the sake of it. So when they bring out a new model, you can bet there’s something significantly progressive in it to help our game. The award-winning, highly popular Titleist
        264 words
      • 102 10 Sportade is your go-to sports drink if you don’t like carbonation. Specially formulated to cool your body and to replenish liquid and electrolytes, the isotonic drink provides sodium, potassium and chloride in fruity flavours that please the palate at the same time. Proper hydration through sports drinks
        102 words
      • 150 10 It appears that one of the best ways to hydrate is available right at our tropical doorsteps. Coconut water has been gaining traction as the health drink of choice, and UFC Refresh Coconut Water is one premium offering available here. The drink scored between 80 and 90 per
        150 words
      • 156 10 For most people, the wedge is the scoring club. You’d be surprised how many strokes you’d shave off your score if you hone your short game with accurate pitches and chips. That said, having the right shaft for your wedges might hold the key to hitting it closer
        156 words
    • playit
      • Article, Illustration
        153 10 Ponderosa Golf Country Club in Johor has the answer for golfers who don’t want to get stuck in the jam across the Causeway during the weekends. The club, located in Taman Molekjust outside Johor Baru, is now offering tee times as early as 5am. The course will
        photos courtesy of Acushnet S’pore Pte Ltd, Lam Soon Singapore, Sportade, MLN International, Ponderosa Golf & Country Club  -  153 words
    • Singapore scene
      • 971 11  -  singapore if scene S I CCS G R 1ub’sJ role i1‘ dramz lub’s A Div team play leading role in overall triumph in drama-filled SGA League BY GODFREY ROBERT It has always been dramatic ecstatic for some and heartbreaking for many on the final day of the
        photos courtesy of SICC  -  971 words
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  • Page 3 Advertisements
    • 263 3 ESCAPE TO YOUR ALPINE RETREAT 0 THE DALAT AT 1200 pr vT s in I I ;a r.r>Sw.l a S v. VsT* Our first luxury villas and serviced residences will be on sale soon. To receive your personal information pack, register here: Vietnam Sales Office: +84 8 3822 1122 Singapore
      263 words


  • Page 6 Advertisements
    • 67 6 i: NatmrallRehv.dratiGrTi 1 10;0f/oCl®:oTcTo1 niu1tBkW/a itielr m lias liirt 2 Golden Stars International Taste Quality Institute, Brussels, Belgium ca Fat free Gluten free Cholesterol free a 100% Natural Not from concentrate No added colors flavors Coconut Water 5 Essential Electrolytes a' 5 Essential electrolytes Potassium Calcium Magnesium Phosphorus Sodium Coconut
      67 words



  • Page 9 Advertisements
    • 110 9 Distance comes from speed, launch and high moment of inertia (MOI). New Titleist AP1® irons help all golfers to play their best thanks to a 360 undercut cavity with a thin, fast face design and industry-leading use of high density tungsten weighting for speed and stability. AP1 irons deliver maximum
      110 words



  • Page 12 Advertisements
    • 39 12 OYSTER PERPETUAL DATE 34 t ROLEX 4 m y B m a w\ l <&> cortiricTwatch Slit* CHINATOWN POINT, #01-08/09. TEL: 6702 0061 PARAGON, #01-13. TEL: 6235 0084 RAFFLES CITY, #OI-36A. TEL: 6339 9185 WATCH FEATURED SUBJECT TO STOCK AVAILABILITY
      39 words