The Business Times, 19 December 2015

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Microfilm: NL33710
Total Pages: 50
1 12 The Business Times
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  • Title Section
    Lock icon Masthead
    19 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg DECEMBER 19-20, 2015 S$1 .00 MCI (P) 040/08/2015 sph A SINGAPORE PRESS HOLDINGS PUBLICATION
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  • Article
    Lock icon BOJ ‘boosts’ investment, wages
    27 1 NEW TACTICS ITS Policy Board agrees to adopt innovative new policy measures aimed indirectly at stimulating corporate capital investment and raising wages. 2
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  • Article
    Lock icon Auction properties at 6-year high
    37 1 HOT AND COLD BUT the proportion that found takers was dismal at just 4.1 per cent, down from an average success rate of 6.2 per cent over the last five years. 3
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  • Article
    Lock icon SIAS urges SIA to up Tiger offer
    33 1 ICING PLEASE IT argues that long-term shareholders may not be satisfied, while a sweeter deal might secure the acceptance needed to delist the budget carrier.| 10
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  • Article
    Lock icon DBS denies interest in StanChart
    39 1 COUNT ME OUT IT dismisses a CLSA report that it was the most likely white knight for StanChart, saying: “There is no basis to the report, and it is not on our agenda.” 11
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  • Article
    Lock icon New cars on the road likely to double this year
    504 1  -  Distributors are gearing up for another bumper ride in 2016 even as the economy slows REVIEW 2015 By Samuel Ee samuelee@sph.com.sg Singapore THE year 2015 may have been a watershed in land transport for the unexpected change in cabinet ministers,
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  • Article
    Lock icon IEA warns of Paris blow to high-carbon investments
    720 1  -  By Andrea Soh sand rea@sph.com.sg @AndreaSohBT Singapore ENERGY investors should look beyond short-term profit maximisation to consider the implications of the Paris climate change agreement on their portfolio in the long term. High-carbon investments are likely to face greater pressure, warned International
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      51 2 CONTENTS NEWS Top Stories 2-6 Star Wars 7 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 22-25 Opinion 26-27 Wealth 28-30 Life Culture 31 LIVING Living L2-5 Shopping L6-7 Home Garden L8-9 Motoring L10-11 Sports
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      8 2 45Cabinet okays US$27b extra stimulus budget, Page 22
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  • TOP STORIES
    • Article
      Lock icon BOJ takes steps to boost investment, wages
      841 2  -  It’ll step up buying of selected ETFs, extend period of existing loan programme for firms By Anthony Rowley btworld@sph.com.sg Tokyo THE Bank of Japan’s Policy Board on Friday agreed to adopt innovative new policy measures aimed indirectly at stimulating corporate capital investment and
      841 words
    • MARKETS
      • Article
        Lock icon FOREX
        49 2 US$ S$ US$ (S$ per US$) 1.412 (US$/S$ per 1.494 2.109 EURO (US$/S$/€ 1.087 1.535 Foreign currency per US$ S$ YEN 121.70 86.20 RM 4.290 3.037 HK$ 7.752 5.489 BAHT 36.16 25.60 RUPIAH 13,915 9,853 RENMINBI 6.481 4.589 INDIAN RUPEE 66.43 47.03 A$ 1.399 0.991 NZ$ 1.488 1.054
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      • Article
        Lock icon STOCKS
        59 2 HSTI 2,852.84 (-8.34) HSTI FUTURES 2,847.00 (-8.00) HSIMSCI 319.41 (-1.03) HSIMSCI FUTURES 318.55 (-2.35) STOCKS Friday Change KL COMP 1,643.90 -12.62 NIKKEI 225 18,986.80 -366.80 HANG SENG 21,755.56 -116.50 SET 1,284.92 -25.42 JAKARTA 4,468.65 -87.31 MANILA 6,867.07 -38.63 KOSPI 1,975.32 -2.64 SHENZHEN B 1,305.91 +3.41 MUMBAI IND 25,519.22 -284.56
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      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.35 MALAYSIA 6.85 HONG KONG 5.00 INDONESIA 14.265 TAIWAN 4.976 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.50 CANADA 2.70 SWITZERLAND 0.50 INDIA 14.05 Source: Bloomberg
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    • Article, Illustration
      Lock icon Properties put up for auction at 6-year high
      882 3  -  However, only 4% sold despite auction rooms getting more crowded; analysts blame bid-ask price gap REVIEW 2015 By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore MORE distressed properties were put up for auction this year, but barely a fraction were sold. The number of
      Source: Colliers  -  882 words
    • Article, Illustration
      Lock icon China’s economic deterioration ‘disturbing’
      753 4 Beige Book shows Q4 sales revenue, output, profits, hiring, borrowing and capex all turning weaker Bloomberg Hong Kong CHINA’S economic conditions deteriorated across the board in the fourth quarter, according to a private survey from a New Yorkbased research group that contrasted with recent official indicators
      Bloomberg; PHOTO: REUTERS  -  753 words
    • Article, Illustration
      Lock icon ‘One Belt, One Road’ provides bureaucratic financial cover
      397 5  -  Early signs point to scheme as excuse to shuffle money between state firms REUTERS BREAKINGVIEWS By Rachel Morarjee Beijing WHAT do investments in engineering companies, banks and bananas have in common? They’re all justified by China’s “One Belt, One Road” plan to
      FILE PHOTO  -  397 words
    • Article, Illustration
      Lock icon Dealers see limited impact from slowdown
      1711 6  -  They also expect a bigger COE quota which will boost the market for cars in 2016 REVIEW 2015 By Samuel Ee samuelee@sph.com.sg Singapore Cheah Kim Teck Managing director of business development, Jardine Cycle Carriage, authorised distributor of Mercedes-Benz, Mitsubishi, Kia and Citroen How big
      FILE PHOTOS; FILE PHOTO  -  1,711 words
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      149 3 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 EPGC HOLDINGS PTE. LTD. Co. Reg. No. *****7518D IN MEMBERS’ VOLUNTARY LIQUIDATION FINAL GENERAL MEETING NOTICE is hereby given pursuant to Section 308 of the Companies Act, Cap. 50, that the FINAL GENERAL MEETING of the members of the abovenamed company
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      1173 5 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices JOYAS INTERNATIONAL HOLDINGS LIMITED (Incorporated in Bermuda with limited liability) (Company registration no. *****) NOTICE OF EXPIRY OF W*****5 WARRANTS ON 25 JANUARY 2016 TO: ALL HOLDERS OF W*****5 WARRANTS (“WARRANTS”) TO SUBSCRIBE FOR NEW SHARES IN THE CAPITAL OF JOYAS
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Decoding entrepreneurship
      2466 8 / 9  -  Author Amy Wilkinson talks about what some of the greatest entrepreneurs of our time have in common. By Vikram Khanna Decodingentrepreneurship Decodingentrepreneurship By Vikram Khanna vikram@sph.com.sg EVERYentrepreneurhas a unique story of how an audacious dream became real: how the seed of an idea got planted, was transformed into
      PHOTO: COURTESY OF AMY WILKINSON  -  2,466 words
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon SIAS urges SIA board to sweeten its offer for Tiger Airways
      726 10  -  It says minority shareholders aren’t satisfied and may not accept bid By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore THE Securities Investors Association (Singapore) or SIAS has appealed to the Singapore Airlines (SIA) board for a revision of the group’s takeover
      ST FILE PHOTO  -  726 words
    • Article
      Lock icon Private home prices to drop 5-15% over 2016-2017: OCBC
      645 10  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore OCBC Investment Research said it expects private home prices to slip 5 to 15 per cent over 2016-2017 and 2016 primary residential sales to remain muted at between 6,000 and 9,000 units. Residential rents could
      645 words
    • Article
      Lock icon It’s the perfect time to buy Garuda shares: Credit Suisse analyst
      672 11 Bloomberg Jakarta FOR Indonesia’s national carrier, 2015 has been a year to forget. Shares of PT Garuda Indonesia are heading for their biggest-ever annual drop, overseas debt costs are rising and flights have been disrupted by forest fires and
      Bloomberg  -  672 words
    • Article
      Lock icon DBS dismisses report which said it’s keen on StanChart
      685 11  -  It declines comment on its interest in Barclays and RBS assets By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore MEDIA and brokerage reports have linked DBS Group Holdings to three potential purchases in as many days, reflecting the capital strength of South-east
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    • Article
      Lock icon STI STOCKS
      305 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 231 co +6 231/224 271 213 6.3 6061.6 CapitaLand 325 -1 328/320 379 267 11.9 2.8 *****.1 CapitaMall Trust 195 +2 195/192 228 184.5 5.6 6776.8 CityDev 759 +5 761/750 1095 695
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    • Article
      Lock icon SGX ETFs Most Active
      111 12 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS INDIA US$ US667 +1 870 669/665 1000/639 667/671 83.4 STI ETF 290 -2 457 292/287 355/280 290/291 DBXT MSBrazil US$ US239 -4 216 246/238 409/226 239/240 Lyxor Japan US$ US125 +0.2 65 125/124.7 135.4/113
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      781 12 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Dec 14 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Global Premium 17-Dec-15 Koh Wee Meng Buy 136 0.32 *****4 64.40 *****0 64.41 Hwa Hong Corp 17-Dec-15
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 12 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 5 1 0 1 0 5 6 1 Manufacturing 34 40 33 6 7 15 40 47 48 Commerce 21 20 9 2 4 7 23 24 16 Tpt/Stor/Comms 11 13 8
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      122 12 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 13,242 2,809 16,051 50,522 870 51,392 Manufacturing 71,266 27,620 98,886 81,477 1,927 83,404 Commerce 76,439 15,168 91,607 74,719 585 75,304 Tpt/Stor/Comms 130,283 388 130,671 171,335 31 171,366 Finance 32,251 2 32,253 198,329 198,329 Construction 7,243
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 12 Dec 18 VALUE CLOSE BT OB/OS -580.00 -14.00 BT CADI -*****.00 -39.00 BT 10-day MA -*****.00 -58.00 FTSE ST Mid Cap 663.59 +0.56 FTSE ST Small Cap 397.00 -0.52 FTSE ST All Share 686.93 -0.55 FTSE ST China Top 166.74 -0.95 FTSE ST China 204.01 -1.03 FTSE
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    • Article
      Lock icon UNUSUAL ACTIVITY
      81 12 VOL CLOSE($) CHANGE Seroja Inv 91.0 0.057 -0.008 -12.31 InnoPac 13,921.2 0.003 -0.001 -25.00 Mirach Energy 2,372.8 0.169 +0.015 +9.74 Sunpower 3,144.4 0.275 +0.035 +14.58 CMC Infocomm 140.5 0.102 -0.049 -32.45 Ossia Intl 10.7 0.160 -0.029 -15.34 Global Tech 3,982.0 0.024 +0.002 +9.09 Next-Gen Sat 5,518.0 0.003 +0.001
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    • Article
      Lock icon COMMODITY FUTURES
      193 13 Dec-17 Price Net change change Last Trade Agricultural Dec-17 CBOT Soybeans (US cents/bu) 877.00 14.50 1.68% 14/01/2016 CBOT Soybean Oil (US cents/lb) 30.07 -0.30 -0.99% 14/01/2016 CBOT Wheat (US cents/bu) 484.00 0.50 0.10% 14/03/2016 Dec-17 LIFFE Cocoa (£/tonne) 2261.00 -1.00 -0.04% 14/03/2016 LIFFE Coffee (US$/tonne) 1482.00 -4.00 -0.27%
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    • STOCK MARKETS
      • Article, Illustration
        Lock icon Straits Times Index
        20 13 YTD change: -15.22% 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
      • Article, Illustration
        Lock icon Hang Seng Index
        21 13 YTD change: -7.84% 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
      • Article, Illustration
        Lock icon Shanghai Stock Exchange Composite
        21 13 YTD change: +10.64% 52-week high: 5,166.35 on June 12,2015 52-week low: 2,927.29 on Aug 26,2015 Source: Bloomberg
        Source: Bloomberg  -  21 words
      • Article, Illustration
        Lock icon Nikkei 225
        19 13 YTD change: +8.80% 52-week high: 20,868.03 on June 24,2015 52-week low: 16,795.96 on Jan 14,2015 Source: Bloomberg
        Source: Bloomberg  -  19 words
      • Article, Illustration
        Lock icon Dow Jones Industrial Average
        26 13 YTD change: -1.84% 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
    • Article
      Lock icon BONDS, WARRANTS, PREFERENCE SHARES
      208 13 Most active Dec 18 Prem Expiry Last Vol Conv Exer Disc Gear-Mths Company Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 3 -0.1 6986 1 18 10 DBS MB eCW*****4 11.2 -1.3 5801 0.1 1720 7 DBS MB eCW*****5 11.6 -2 4805 0.1 1630 2
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    • Article
      Lock icon PALM OIL
      57 13 Dec 18 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 16 2200.0 2236.0 2244.0 2196.0 242 8612 Feb 16 2302.0 2331.0 2341.0 2299.0 6004 ***** Mar 16 2376.0 2402.0 2405.0 2370.0 ***** ***** Apr 16 2429.0 2447.0
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    • Article
      Lock icon GOVERNMENT SECURITIES
      67 13 Dec 18 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0F 1.375 01-Oct-17 100.63 100.68 100.66 5-Year N*****0S 2.000 01-Jul-20 100.73 10-Year NX*****Z 2.375 01-Jun-25 99.32 99.55 99.35 15-Year NZ*****F 2.875 01-Sep-30 101.46 101.85 101.65 20-Year NZ*****V 3.375 01-Sep-33 108.26 108.40 108.40
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 13 Dec 18 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0089 1.0099 0.7145 0.7150 Canadian dollar 1.0149 1.0155 0.7189 0.7187 Euro 1.5342 1.5348 1.0865 1.0866 NZ dollar 0.9484 0.9493 0.6716 0.6721 Sterling pound 2.1087 2.1100 1.4933 1.4938
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT’L INDICES
      365 13 In local curr In S$ In US$ dy yr dy yr dy yr Dec 17 Index Change Change Change Change Change Change World Preliminary 1278.7 -0.1 0.2 0.4 4.2 -0.5 -2.9 EAFE Preliminary 1008.8 1.2 2.2 1.2 2.7 0.4 -4.2 Europe Preliminary 1402.8 1.1 1.5
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    • Article, Illustration
      Lock icon Impact of Fed rate hike disappointing
      509 14  -  STOCKS R Sivanithy sivan@sph.com.sg @RSivanithyBT Senior Correspondent RARELY has a US Federal Open Market Committee (FOMC) meeting been as widely anticipated as the one held this week, and rarely has its impact been as disappointing. After almost unanimously discounting a first rate-hike in seven
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    • Article
      Lock icon GAINERS
      74 14 BY CENTS CLOSE UP 52w high/low Lyxor Indonesia US$ 7066 427.9 4.5 9182/6250 JMH USD 4740 193.5 3.0 6788/4500 DBXT S&PShort US$ 2151 62.1 2.1 2393/2086 Jardine C&C 3488 38.0 1.1 4258/2636 Lyxor Europe US$ 1333 26.8 1.4 1583/1275 BY PERCENTAGE CLOSE UP 52w high/low Infinio 0.3 200.0 0.2
      74 words
    • Article
      Lock icon LOSERS
      76 14 BY CENTS CLOSE DOWN 52w high/low SPDR S&P500 US$ ***** -641.1 -2.2 *****/***** IS S&P500 US$ ***** -614.3 -2.1 *****/***** SPDR DJIA US$ ***** -319.1 -1.3 *****/***** GLD US$ ***** -169.5 -1.2 *****/***** Lyxor Nasdaq US$ 1810 -45.2 -1.7 1865/1598 BY PERCENTAGE CLOSE DOWN 52w high/low Elektromotive 0.2 -50.0
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    • Article
      Lock icon MOST ACTIVE
      36 14 VOLUME Noble 44,465,800 Golden Agri-Res 30,225,200 Spackman 21,816,600 Geo Energy Res 21,528,800 Cosco 20,995,500 Market volume 945,159,000 VALUE DBS Grp 98,387,355 Singtel 71,778,792 UOB 47,442,994 OCBC Bank 38,024,578 Keppel Corp 33,526,039 Market value 920,438,000
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    • Article, Illustration
      Lock icon Fitch affirms GLP at BBB+, with stable outlook
      401 14  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore FITCH Ratings on Friday affirmed Global Logistic Properties’ (GLP) long-term foreign-cur-rency issuer default rating at BBB+ with a stable outlook. The senior unsecured rating and all outstanding bonds are also affirmed at BBB+. The agency also
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      Lock icon Page 11 Advertisements Column 1
      157 11 Nassim Road Good Class Bungalow Land Plots Contact: Investment Properties 6 Battery Road, #32-01, Singapore *****9 Sammi Lim Ng Li Ling (CEA Reg No.: R*****9J) (CEA Reg No.: R*****3J) Tel: 9368 9803 Tel: 8321 7932 Proposed Site Area: Plot A Approx. 18,620 sq ft (subject to final survey) Plot B
      157 words
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  • REAL ESTATE
    • Article
      Lock icon S Africa builder sees prospects in graves
      558 15 Calgro M3 expects a growing cemetery unit to match housing construction profit by 2020 Bloomberg Johannesburg IN about five years, South Africa’s best-performing property developer expects to make as much from the dead as it does from the living. Calgro M3, which has
      Bloomberg  -  558 words
    • Article, Illustration
      Lock icon China home prices rise for second straight month in November
      556 15 Reuters Beijing HOME prices in China rose for the second straight month in November in year-on-year terms, signalling further stabilisation in the country’s largest urban housing markets, although oversupply continues to plague smaller cities. Average new home prices rose 0.9
      Reuters; PHOTO: REUTERS  -  556 words
    • Article
      Lock icon Househunt
      924 16 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN NOV 4 AND NOV 10, 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 Emerald Gdn Apt 05/11/2015 999 829 1480 1786 People's Park Cplx Apt 09/11/2015 99
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      Lock icon Page 17 Advertisements Column 1
      128 17 THE BUSINESS TIMESMAYBANK KIM ENG #INVESTASIA2016 IMPACT, OPPORTUNITIES CHALLENGES The ASEAN Economic Community Date: Saturday, 9 January 2016 Venue; The Grand Residence, Level 3, Grand Hyatt Singapore Time; 9:30am to 1pm Ticket Rates: Early Bird (Ends 22 Dec 2015) Normal Maybank Kim Eng Clients/ Maybank Credit Cardmembers Register for the
      128 words
  • BANKING & FINANCE
    • Article, Illustration
      Lock icon Hong Kong banks vie for young customers
      634 17 They are offering online perks to people aged 18-24 who are key to future retail profit Reuters Hong Kong BANKS in Hong Kong are intensifying the battle for young customers who are key to their future retail profit, offering online perks and mobile
      Reuters; PHOTO: REUTERS  -  634 words
    • Article
      Lock icon Many happy returns as Shanghai bourse turns 25
      447 17 AFP Shanghai WHEN Qian Qimin started investing on the Shanghai Stock Exchange where trading began 25 years ago on Saturday he lined up at a sports stadium to buy shares of a textile machinery maker, one of just a handful of listed
      AFP  -  447 words
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon US$800m raised for world’s deepest FPSO
      299 18 Singapore SBM Offshore and its joint-ven-ture partners have completed the project financing for the world’s deepest floating production, storage and offloading (FPSO) vessel Turritella, slated to go on a multi-year contract at Shell-oper-ated Stones field development in the Gulf of Mexico. Project financing totalling
      299 words
    • Article, Illustration
      Lock icon Glencore’s deeper debt cuts spur optimism
      790 18 Mining company seen as able to retain its investment-grade credit rating amid commodities rout Bloomberg London GLENCORE plc’s aggressive approach to shrinking the industry’s biggest debt pile is fuelling optimism the trader and miner can retain its investmentgrade credit rating amid the worst commodities
      Bloomberg; PHOTO: REUTERS  -  790 words
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  • TECHNOLOGY
    • Article, Illustration
      Lock icon China drone developers take off
      686 19 Already a world leader in drone production, it is now emerging as a world-class innovator Reuters Beijing WHEN an explosion devastated parts of China’s Tianjin port in August, one insurance company turned to Chinese-made drones to help analyse the rubble and estimate the damages. Comparing
      Reuters; PHOTO: REUTERS  -  686 words
    • Article
      Lock icon Apple, Samsung ready for China mobile payment
      341 19 Bloomberg San Francisco APPLE Inc and Samsung Electronics Co reached separate agreements with China UnionPay Co to introduce their competing mobile payments systems in the country next year. Customers of UnionPay, China’s largest payment and clearing network, will be able to add their
      Bloomberg  -  341 words
    • Article
      Lock icon Microsoft to tailor Win10 version for China govt
      193 19 AFP San Francico MICROSOFT is forming a joint-venture in China to tailor a version of its new Windows 10 computer operating system for use by the Chinese government. “We’re announcing a new joint venture that will license, deploy, manage and optimise Windows
      AFP  -  193 words
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  • CONSUMER
    • Article, Illustration
      Lock icon Toshiba to use crisis for profit-building overhaul
      708 20 Changes may include selling money-losing PC and appliance arms Bloomberg Tokyo THE biggest crisis in Toshiba Corp’s 140-year history gives president Masashi Muromachi an opportunity to push through painful reforms from layoffs to business closures, accelerating the industrial conglomerate’s move away from consumer
      Bloomberg; PHOTO: BLOOMBERG  -  708 words
    • Article
      Lock icon Reviled pharma boss Shkreli arrested on fraud charges
      689 20 AFP New York A REVILED US pharmaceutical boss who caused a storm in September by jacking up the price of a life-saving drug by 5,000 per cent was arrested on Thursday on fraud charges, prosecutors said. The arrest of Martin Shkreli who
      AFP  -  689 words
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  • TRANSPORT
    • Article, Illustration
      Lock icon Uber barred from pushing new contract on drivers suing it
      562 21 US federal judge rules that the reworded agreement is confusing Bloomberg San Francisco UBER Technologies Inc was barred from imposing a new contract on drivers who are suing the company to be treated like employees after a federal judge said
      Bloomberg; PHOTO: REUTERS  -  562 words
    • Article
      Lock icon Boeing lands US$10b China Southern order
      544 21 Bloomberg Beijing BOEING Co landed a US$10 billion order from China Southern Airlines Co, Asia’s largest carrier by passenger volume, after agreeing to buy back some older-vin-tage jets, engines and other materials. China Southern and Xiamen Airlines, a subsidiary, are purchasing 110 current-model 737
      Bloomberg  -  544 words
    • Article
      Lock icon Airbag crisis said to be hurting Takata steering wheel business
      374 21 Bloomberg Tokyo THE crisis involving Takata Corp’s defective airbags has started to hurt demand for its steering wheels, according to sources. The Japanese auto supplier, whose airbags are behind the largest automotive safety recall, told its lenders in recent weeks
      Bloomberg  -  374 words
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Rate rise a new experience for majority of US traders
      676 22  -  Two-thirds are below 30, have missed last upward interest rate cycle from 2004-2006 By Neil Behrmann btworld@sph.com.sg London ECONOMISTS and market participants are already embarking on the guessing game on the next US Federal Reserve rate hike and monetary policies
      PHOTO: REUTERS  -  676 words
    • Article, Illustration
      Lock icon Japan approves US$27b extra stimulus budget to boost growth
      408 22 Reuters Tokyo JAPAN’S Cabinet approved on Friday a US$27 billion extra budget for the fiscal year ending in March to revitalise growth, while critics see some of the spending as targeting voters ahead of an Upper House election next year. The
      Reuters  -  408 words
    • Article
      Lock icon Richest Britons piling up wealth 3 times faster than poorest
      345 22 Reuters London THE richest Britons are accumulating wealth three times as fast as the poorest, according to new official data likely to heighten concerns Britain is becoming an increasingly unequal society. For the richest 10th of British households, total wealth
      Reuters  -  345 words
    • Article
      Lock icon UN Sec Council moves to cut ISIS financing
      433 23 Ministers to tighten sanctions, urge nations to make funding militants a criminal act AFP New York FINANCE ministers from the UN Security Council on Thursday unanimously backed a resolution aimed at ramping up sanctions against the Islamic State (ISIS) and cutting off
      AFP  -  433 words
    • Article
      Lock icon Malaysia told to align foreign labour policies with market demand
      279 23 Bloomberg Kuala Lumpur MALAYSIA should look at labour market demands more closely when determining foreign worker inflows as its current approval system doesn’t sufficiently reflect t h e nee d s o f i n d us t r i
      Bloomberg  -  279 words
    • Article, Illustration
      Lock icon UK growth engine seen to slow in 2016
      663 24 Pick-up in inflation, interest rate increase, fiscal tightening will hurt consumer spending Bloomberg London THE strongest pillar of the UK economy may start to wobble in 2016. Having boosted growth for nine straight quarters, consumer spending could be up against restraints next
      Bloomberg; PHOTO: BLOOMBERG  -  663 words
    • Article
      Lock icon Global disasters expected to cost insurers US$32b in 2015
      278 24 Reuters Zurich CATASTROPHES in 2015 proved more deadly than the previous year, although the total cost to the insurance industry is likely to be 8.6 per cent lower at US$32 billion, reinsurance specialist Swiss Re said in its annual “sigma” report
      Reuters  -  278 words
    • Article, Illustration
      Lock icon India cuts growth outlook, calls for review of fiscal, monetary targets
      472 25 Still, the South Asian country will remain the fastest growing major economy Reuters New Delhi INDIA slashed its full-year growth forecast on Friday, citing weak global demand and lower farm output, and called for speedier reforms, as well as
      Reuters  -  472 words
    • Article, Illustration
      Lock icon Former Hong Kong leader pleads not guilty to misconduct in office
      342 25 Reuters Hong Kong HONG Kong’s former leader, Donald Tsang, pleaded not guilty on Friday to charges of misconduct in public office, the latest in a string of scandals that have ensnared senior business and former political figures in the
      Reuters; PHOTO: REUTERS  -  342 words
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      87 23 Select your Christmas gifts (yp without burning a hole r>o in your pocket! Brand new items thoughtfully sorted out into 4 price categories (Under $5, $io, $20, $30) to satisfyjust about every gift exchange. V Check out blog.trezo.sg for gifting suggestions which will suit any Christmas party > DOWNLOAD NOW
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      37 24 I finally got that promotion! And now to reward myself with a new car! To find that dream car, checkout Class 302 to 358 in Print Classified. Call Print Classified at Hotline: 1800-289-9988 to place your advertisement.
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      17 24 Discover Greener Pastures Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices
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      30 25 3If you're looking to buy or rent an HDB apartment, turn to the Print Classified Properties section. To advertise, call the Print Classified Hotline: 1800-289 9988. Need a room flat?
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  • Page 26 / 27 Miscellaneous
  • OPINION
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      Lock icon Boosting Singapore’s air links with Africa
      1393 26 / 27  -  With a more challenging market environment and growth levels moderated, Changi must find ways to woo African airlines to ply the S’pore route. By Adefolake Adeyeye ~The writer is senior research fellow at the NTU-SBF Centre for African Studies AFRICA and Asia will no
      PHOTO: REUTERS  -  1,393 words
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      Lock icon Good Fed news for Christmas
      566 26 / 27  -  By Meghnad Desai, David Marsh ~Meghnad Desai is emeritus professor of economics at the London School of Economics and Political Science and chairman of the Official Monetary and Financial Institutions Forum advisory board. David Marsh is managing director ofOMFIF OM FIF New Delhi/London THE act
      OMFIF; PHOTO: BLOOMBERG  -  566 words
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Everyone’s a loser – and China’s to blame
        862 28 / 29  - Everyone’s a loser and China’s to blame All 10 major Asian currencies forecast to fall against the US dollar for a third year. By Lilian Karunungan Bloomberg Singapore ALL 10 major Asian currencies are forecast by strategists to fall against the US dollar for a third year. They blame China.
        Bloomberg; PHOTO: REUTERS  -  862 words
      • Article
        Lock icon Global banks turn to not-so-fixed income via centralised platform
        635 28 / 29 Service to offer repackaged notes known as repacks that will be issued through a special purpose vehicle Bloomberg Hong Kong FIXED income looks set to be increasingly not-so-fixed. BNP Paribas SA, Citigroup Inc, Credit Suisse Group AG and JPMorgan Chase Co
        Bloomberg  -  635 words
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        Lock icon BROKERS' TAKE
        617 28 / 29  -  Compiled by Melissa Tan Singapore residential sector Neutral OCBC Investment Research, Dec 18 We see three key drivers of domestic residential prices. First, a significant physical oversupply situation is likely to persist, which will impact rental levels and vacancy rates. Second, floating mortgage rates will rise alongside higher
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        Lock icon Risks and opportunities abound in 2016
        1273 30  -  Subdued growth, low inflation and moderate returns are expected; high degree of diversification with an active tactical approach to be deployed against periods of volatility. WEALTH INSIGHT John Woods ~The writer is chief investment officer Asia-Pacific, Credit Suisse Private Banking WE EXPECT the global
        PHOTO: REUTERS  -  1,273 words
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  • Page 31 Miscellaneous
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      348 31 CRYPTIC CROSSWORD Across 7 Easy target making one flap (4,4) 9 Joke precedes brief medical procedure in subcontinental area (6) 10 Hurry around very busy place (4) 11 Unwell after brief holiday, an old rocker hesitated (10) 12 Distant sea abroad for one normally on the land (6) 14 Positions
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  • LIFE & CULTURE
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      Lock icon Federer raises the roof in S’pore at IPTL
      536 31  -  He plays in 3 matches, including the men’s singles, in which he beat Swiss compatriot Stan Wawrinka By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore ROGER Federer played tennis for the first time in Singapore on Friday night, and fans at the Singapore Indoor
      PHOTO: MARK CHEONG/THE STRAITS TIMES; PHOTO: MARK CHEONG/ THE STRAITS TIMES  -  536 words
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      105 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
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      64 1 LivingBTTHE BUSINESS TIMES WEEKEND DECEMBER 19-20, 2015 A CHRISTMAS KITCHEN STORY Four families share their season’s traditions and what will be on their tables this Yuletide. L2-5 PHOTO BY JOHN HENG SHOPPING The last minute gift guide L6-7 PERSONAL SPACE Building on the past L8-9 MOTORING An automotive Christmas L11
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  • LIVING
    • Article, Illustration
      Lock icon A Christmas kitchen story
      1256 2 / 3  -  Four families share their season’s traditions and tell BT Weekend what will be on their tables this Yuletide. By Geoffrey Eu THAT old adage about having too many cooks in the kitchen doesn’t apply to everyone. For one family at least, kitchen time means quality time
      1,256 words
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      Lock icon Prime centrepiece
      861 2 / 3  -  It’s no surprise that MasterChef Asia winner Woo Wai Leong is his family’s choice to handle the annual Christmas dinner. By Avanti Nim By Avanti Nim avantin@sph.com.sg BY the time he was 12, Woo Wai Leong could cook a complete meal for himself. That he kept honing his
      PHOTOS: YEN MENG JIIN  -  861 words
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      Lock icon Holding on to heritage
      787 4 / 5  -  Traditional Sicilian and Chilean foods take pride of place on Chef Lino Sauro’s table. By Avanti Nim By Avanti Nim avantin@sph.com.sg WHEN Lino Sauro moved to Singapore 10 years ago, he might have left his hometown in Sicily, but he sure didn’t leave his traditions behind.
      PHOTOS: LAURA NG  -  787 words
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      Lock icon The never—ending feast
      577 4 / 5  -  At Jade Kua and Emil Teo’s Christmas parties, homemade meals are the star of the show. By May Yip By May Yip WITH the celebration of Christmas said to have been inspired by an ancient Roman winter solstice festival that saw banquets last several days, it shouldn’t
      577 words
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      805 4 / 5 wine&dine with BTWeekend Café Mocha Marina Mandarin Singapore 6 Raffles Boulevard, Level 1 Z 6845-1066 Ginger and Spice with Everything Nice Treat yourself and loved ones to the best of Santa’s festive gems in our goodie hampers and Christmas gift packs, carefully curated by Santa’s elves at Marina Mandarin’s Gingerbread
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  • SHOPPING
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      Lock icon THE LAST-MINUTE LIST
      739 6  -  From stocking stuffers to crowd pleasers that fit any budget, we have the best last minute, limited-edition gifts that will wow your favourite folks. Best of all, these presents channel the Yuletide spirit or come in the most enticing packaging in other words, you don’t even have
      739 words
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  • Article, Illustration
    Lock icon BUILDING ON THE PAST
    1177 8 / 9  -  A family home, one the owner has known since birth, is rebuilt to suit present and future needs while retaining a sense of continuity. By Geoffrey Eu personal space By Geoffrey Eu IT was the simplest of briefs. When Lim Ka Liang decided to do a
    PHOTOS: YEN MENG JIIN  -  1,177 words
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  • MOTORING
    • Article, Illustration
      Lock icon COUPE DE GRACE
      648 10  -  The styling of the Mercedes-Benz GLE Coupe stands out among SUVs. By Samuel Ee samuelee@sph.com.sg I T may be called a coupe but the Mercedes-Benz GLE Coupe actually has five doors, not two. The GLE Coupe is a longer, wider and lower version of the GLE-Class sport-utility
      648 words
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      Lock icon An automotive Christmas
      311 11  -  Give the car lover an ‘auto accessory’ this festive season. By Samuel Ee samuelee@sph.com.sg Rolls-Royce cocktail hamper Cocktail hour will never be the same again. This handcrafted walnut and leather hamper with handmade decanters and tumblers is limited to 15 pieces worldwide. US$46,328 from Rolls-Royce Motor Cars
      PHOTO: YEN MENG JIIN  -  311 words
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  • SPORTS
    • Article, Illustration
      Lock icon End to an eventful 2015
      881 12  -  no holds barred Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Correspondent THERE are only 12 days to go before we bring the curtain down on a quite eventful 2015, and sports fans have more than their fair share of memorable moments to be thankful for. Boxing fans finally
      PHOTOS: REUTERS, AFP, SINGSOC  -  881 words
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      58 1 CliveveAGRAN 19-20 DECEMBER 2015 THE BUSINESS TIMES WEEKEND FORGET STABLEFORD, FOLLOW THE AGRAN SCORING SYSTEM GOODBYE TIGERODBYE TIGER BY RAHUL PATHAK WORLD AMATEUR GOLFERS CHAMPIONSHIP HAIL SINGAPORE’S HEROES OYSTER PERPETUAL DAY-DATE 40 ROLEX cortinawatch aatt* CHINATOWN POINT, #01-08/09. TEL: 6702 0061 PARAGON, #01-13. TEL: 6235 0084RAFFLES CITY, #01 -36A. TEL:
      58 words
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  • 19-20 DECEMBER 2015 | THE BUSINESS TIMES WEEKEND Swing
    • editor’s letter
      • Article, Illustration
        Lock icon BEAUTY AND MY BEAST, OF A TRIP
        558 2  -  BY S.MURALI I learnt quite a few things on my recent trip to Turkey, where I captained Singapore’s World Amateur Golfers Championship (WAGC) team to second place. One: It is quite fun to be a non-playing captain (Ryder Cup style) and still be
        photo by Ron Totton (above), tnp photo: Phyllicia Wang (trophy)  -  558 words
    • singapore scene
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        Lock icon AWESOME CHEMISTRY
        774 3  -  T EAM SINGAPORE SHINE AT WAGC FINALS IN TURKEY TEAM SINGAPORE SHINE A hey will never play in fieree1y—eontestec international golf tournaments such as the Ryder Cup or President: hey will never play in fieree1y—eontested international golf tournaments such as the Ryder Cup or Presidents Cup. But for
        tnp photo by S Murali  -  774 words
    • Article, Illustration
      Lock icon WHEN IT MAKES SENSE TO JOIN THE JET SET
      669 4  -  f/' UNDERCOVER TOUR PRO hen I fly commereia I w0n’L shave, either, the plane you might xx person sitting‘ in fi1‘sL—c hen I fly Commercial, I wear jeans and 21 hoodie. I W0n’t shave, either, so when you first see me
      illustration by Edel Rodriguez  -  669 words
    • Article, Illustration
      Lock icon WHY YOU SHOULD SWING EASY WITH SHORT IRONS
      868 5  -  Generally speaking, avoid trying to hit your short irons hard. The more aggressively you swing, the more height you’re likely to create with those lofted clubs, so the ball will tend to go a shorter distance. If you’re lucky, you might get
      photo by Dom Furore, illustrations by Todd Detwiler  -  868 words
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      Lock icon JUST GOR FUN
      562 6  -  ‘M5; é V 00$ '5! p ‘ml’ 4 'lCKF GRE< FATI- ICK PRICE AND SON GREG GO LOW-KEY IN FATHER/SON CHALLENGE BY GUY YOCOM At home on break at the end of 1994, Nick Price handed a cut-down driver to his three-year-old son, Greg, dropped a few
      photo by Walter looss Jr.  -  562 words
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      Lock icon CONSISTENCY COUNTS
      303 8  -  KEEP THE BALL IN ONE PLACE FOR EVERY CLUB PLAY YOUR BEST BY BUTCH HARMON Butch Harmon is a Golf Digest Teaching Professional. A lot of what determines whether you hit a good or bad shot happens at address. The simplest thing is ball position. If you get
      303 words
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      Lock icon LOOK AFTER YOUR EYES
      558 8  -  LOO K AF YO U R E\ ROPER EYE CAF HELPS GOLFER MAINTAIN VISIC BY ARUL J OH ROPER EYE CARE HELPS GOLEERS MAINTAIN VISION BY ARUL JOHN Dr Daphne Han (above, right), medical director and consultant ophthalmologist at SMG Vision Centre, a Singapore Medical Group
      photos by J.D. Cuban, courtesy of Singapore Medical Group  -  558 words
    • Article, Illustration
      Lock icon TIME TO RETIRE?
      715 9  -  HIS SPIRIT IS STILL WILLING BUT HIS ELESH IS WOUNDED BEYOND REPAIR HIS SPIRIT IS STILL WILLII\ FLESI-I IS WOUNDED BEY igcr Woods has i tournament agai Some say they at and often disturl cannot help [cc] THIS iger Woods has indicated that he may never play
      715 words
    • Article, Illustration
      Lock icon BUILDING UP HIS GOLF PROWESS
      264 9  -  BY ARUL JOHN Winning the Rickie Fowler signature orange Cobra driverwas like a dream come true for the young golfer. When Mr Joel Rohan Livingston Owen (below), 22, learnt that he had won the golf club in a contest organised by SPH Golf, he was
      photos by Action Images, Nabilah Nordian  -  264 words
    • Article, Illustration
      Lock icon WITH AGRAN,GOLF IS THE WINNER
      744 10  -  A olfing immortality is all I crave nothing more, nothing less. By that I don’t mean I want to go on playing indefinitely, it’s just that Id like to be remembered long after I’\'e found a comfortable corner in the great spike bar in the
      tnp illustration: Cel Gulapa  -  744 words
    • tried & tested
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        Lock icon REGAL COLLECTION
        332 11  -  BY TAN JU KUANG Cobra Golf rekindled its old moniker by introducing the KING F6+ and F6 range of clubs at a trade show in Kuala Lumpur, last month. The new Cobra KING F6+ driver has an all-new CarbonTrac weighting system that features a sliding weight with five
        332 words
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        Lock icon IT’S IN THE BAG
        114 11 Toting a bag around to keep your personals just makes sense. Hence, the advent and rising popularity of the man bag. Braun Buffel’s 2015 Fall/Winter Poche collection has something for everyone duffles large enough for your clothes or laptop, conventional backpacks, or that clutch for your
        114 words
    • playit
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        Lock icon NSRCC’S NEW NINE
        367 11 Don’t look now, but amid all this talk about golf courses closing in Singapore, we actually have a new golf course to look forward to. National Service Resort and Country Club’s new nine holes opened for play this month, and it looks to be a very interesting
        367 words
      • Article, Illustration
        Lock icon LEARNING ASPIRATIONS
        209 11  -  Eunice Seah The Indonesian Ministry of Tourism, through the branding Wonderful Indonesia, is aiming to promote Indonesia as the next destination for the world golfers. Indonesia has 55 golf courses with Jakarta, Bogor and Batam as the most popular golf tourism destinations. The Royale Jakarta Golf Club is
        209 words
      • Article, Illustration
        Lock icon JAMES SHOWS HIS PROWESS
        184 11  -  Godfrey Robert The event is dubbed a platform to bigger things for golfers. The SICC/DBS Junior International Golf Championship has seen the likes of Singaporean Johnson Poh, a previous winner of the event, eventually turn professional and achieve “bigger things”. Following in his footsteps will be
        photos by Cobra Puma Golf, Braun Buffel, The Royale Jackarta Golf Club, The Klub Golf Bogor Raya, Singapore Island Country Club  -  184 words
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      165 7 YOUR BEST GAME. ZERO COMPROMISES We redefined what's possible to develop a driver that is literally from out of this world. Our first ever Zero CG driver means one thing: pure, unadulterated distance with forgiveness. The ultimate distance machine. Discover how space-inspired Zero CG will change your game at cobragolf.com/king.
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      33 12 OYSTER PERPETUAL LADY-DATEJ UST 28 V ROLEX nTF •O Cortinawatch 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
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