The Business Times, 24 December 2015

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Total Pages: 24
1 24 The Business Times
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  • Title Section
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    34 1 THE BUSINESS TIMES 2015 SOCIETY OF NEWS DESIGN EXCELLENCE AWARD■BEST IN OVERALL REDESIGN■ S$1.00 5:31 A SINGAPORE PRESS HOLDINGS PUBLICATION wvvw.businesstimes.com.sg I} D @BTBreakingnews CO REGN NO ’l*****868E MCI (P) 039/08/2015 Thursday, December 24,2015
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  • Article
    Lock icon MARKETS
    26 1 MARKETSWednesday Change STI 2,863.65 +10.68 KL COMP 1,663.51 +20.25 NIKKEI 225 CLOSED HANG SENG 22,040.59 +210.57 SHENZHEN B 1,343.53 +6.88 DOW (10.45 EST) 17,540.54 +123.27
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  • Article, Illustration
    Lock icon DAILY DIGEST
    223 1 Japanese companies operating in Asia are less bullish about their expansion plans for the new year than they were in 2015, according to the Japan External Trade Organization. TOP STORIES 4 China’s central bank has said that it would extend the yuan’s trading hours on the Shanghai-based foreign
    223 words
  • Article
    Lock icon SingPost set for special audit of its corporate governance
    1015 1  -  Move follows issues raised in BT articles, with biggest shareholder Singtel calling for decisive action By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore SINGAPORE Post will undergo a special corporate governance audit in the wake of questions over its disclosure standards and its
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  • Article
    Lock icon Receivers for JAC mull over revival plan via third-party usage
    1315 1  -  Plant could start up again in March-April at the earliest, amid improved conditions, say analysts By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore SECOND chances are found in a new year. And that is what 2016 could potentially hold for the troubled
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      70 1 8 "*****1 *****4 TAXI APPS To Uber, or not to Uber? top stories 2 SINGAPORE ECONOMY Prices fall in Nov, but core inflation still positive top stories/ 2 MALAYSIAN HOMES Prices propped up by GST, weak ringgit REAL ESTATE 11 TAKEOVER TALK A-HTrust managers review options COMPANIES MARKETS 5 Jaeger-leCoultre
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      9 1 Fallout of JAC reaches Sembcorp and PEC, Page 3
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  • TOP STORIES
    • Article
      Lock icon Dec brings reprieve for consumer confidence, but 2016 still a challenge
      432 2  -  ANZ-Roy Morgan Singapore index up 4.3 points year on year By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore CONSUMER confidence picked up in December to end the year on a more positive note, but 2016 will still be a challenging year
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    • Article, Illustration
      Lock icon To Uber, or not to Uber?
      296 2  -  The race to become the Republic’s No 1 ride-booking app has reached fever pitch, what with a record volume of funding by big-name investors and new partnerships added amid talks of government regulation of such third-party platforms. Even as market watchers forecast it will
      Source: CrlincBase; BT Graphics: Jacquelyn Client. Gareln Chung  -  296 words
    • Article, Illustration
      Lock icon Prices fall for 13th straight month, but core inflation still positive
      852 2  -  Economists see the same trend for early 2016 but expect prices to start rising as effect of govt moves wears off By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore WITH the November figures out, Singapore’s negative inflation has now gone beyond
      Sources: Dept of Statistics, MAS  -  852 words
    • Article, Illustration
      Lock icon COE premiums end 2015 mostly lower
      432 2  -  Some car distributors are taken aback by the sharp S$5,000 fall in Cat B By Samuel Ee samuelee@sph.com.sg Singapore CERTIFICATE of entitlement (COE) premiums mostly slumped in the last bidding exercise of 2015, with the big car category shedding nearly 10 per cent to
      FILE PHOTO  -  432 words
    • Article, Illustration
      Lock icon Opec’s market share to shrink by 2020: report
      822 3 Rivals keep pumping despite oil’s collapse as they prove more resilient than expected REUTERS London GLOBAL demand for Opec’s crude will be lower in 2020 than next year as supply from rivals proves more resilient than expected, potentially fuelling a debate on
      REUTERS; PHOTO: BLOOMBERG  -  822 words
    • Article
      Lock icon Fallout of JAC reaches Sembcorp and PEC
      377 3  -  Sembcorp makes provision for S$19m while PEC impairs S$19m debt By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore THE ripples of Jurong Aromatic Corporation’s (JAC) troubles have reached at least two listed companies, though the firm’s receivership status has had limited impact on the rest
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    • Article
      Lock icon Japanese firms turn less bullish about expansion plans in Asia
      657 4  -  Ratio of firms planning to expand in China, Indonesia, Thailand and Cambodia falls in latest Jetro survey amid concerns over higher wages By Anthony Rowley btworld@sph.com.sg Tokyo JAPANESE companies operating in Asia are less bullish about their expansion plans for
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    • Article, Illustration
      Lock icon Confidence ends the year on a happy note at 5-month high
      709 4 Cheap petrol prices and a buoyant labour market help to boost sentiment LATEST US DATA BLOOMBERG Washington CONFIDENCE ended the year on a brighter note as low prices put US consumers in a holiday spirit. The University of Michigan
      BLOOMBERG; PHOTO: AFP  -  709 words
    • Article
      Lock icon China to extend onshore yuan trading hours next year in major reform
      691 4 Move marks first step towards developing yuan as global reserve currency REUTERS Beijing CHINA’S central bank said on Wednesday it would extend the yuan’s trading hours on the Shanghai-based foreign exchange market from Jan 4, in a major
      REUTERS  -  691 words
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      139 2 In the Matter of The Companies Act (Chapter 50) And In the Matter of W&Y HOLDING PTE LTD (In Creditors’ Voluntary Liquidation) Reg. No. *****9976N NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap. 50, the Final Meeting of the Company
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      19 3 Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices
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      122 3 r 1 Singapore Medical Specialists Centre 0$tc One Stofi One (^entne 4 Health Cancer Screening S$550* Lipid Profile Diabetes Profile Liver Profile Bone/Joint Profile Kidney Profile Inflammatory Markers Cardiac Markers Iron Studies Hepatitis Profile STD Screen Thyroid Function Full Blood Count Tumour Markers Urine Analysis Electrocardiogram Chest X-Ray Ultrasound Thyroid
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      225 4 Continue to eni oy your news this Boxing Day! 26 Dece *****5 The New Paper, Shin Min Daily News and Lianhe Wanbao are available at all newsstands and retail outlets. Also available at all Buzz convenience stores: BUS INTERCHANGE: Bishan Boon Lay Bukit Batok Bukit Merah Choa Chu Kang (Store
      225 words
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Cosco (S) up again after response to SGX query
      414 5  -  Chinese shipbuilder says its main subsidiary, Cosco Shipyard Group, is exploring options to support business operations By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore CHINESE shipbuilder Cosco Corporation (Singapore) rallied after the company said its main subsidiary, one of the largest shipyard groups
      Source: Bloomberg  -  414 words
    • Article
      Lock icon A-HTrust managers review options after takeover interest
      600 5  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore ASCENDAS Hospitality Trust managers on Wednesday said that they were reviewing their options after receiving an unsolicited expression of interest (EOI) to buy out all its stapled securities. Checks with investment bankers and lawyers turned up no
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    • Article
      Lock icon Japan fines E&Y affiliate 2.1b yen over Toshiba audit
      240 5 REUTERS Tokyo JAPAN’S financial regulator has fined an Ernst Young affiliate 2.1 billion yen (S$24.5 million) after the firm’s audit of Toshiba Corp’s accounts failed to spot irregularities in the country’s worst accounting scandal in years. The Financial Services Agency (FSA)
      REUTERS  -  240 words
    • Article, Illustration
      Lock icon Noble shares up as it confirms sale of 49% stake in agri unit to Cofco
      784 5  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore SHARES in Noble Group rose 4.5 per cent on Tuesday to 46 Singapore cents after the commodity trader confirmed that it was selling its remaining 49 per cent stake
      PHOTO: REUTERS  -  784 words
    • Article
      Lock icon HK overtakes New York as world’s biggest IPO capital
      376 5 REUTERS Hong Kong HONG Kong replaced New York this year as the world’s biggest IPO market by the amount of funds raised, buoyed by Chinese banks and other financial firms, with the deal pipeline pointing to a stronger year ahead. Companies
      REUTERS  -  376 words
    • Article
      Lock icon Deutsche Bank flags US$10b in suspicious transactions related to Russian operations
      818 5 BLOOMBERG Moscow DEUTSCHE Bank AG has identified as much as US$4 billion in suspicious transactions related to its Russian operations, in addition to US$6 billion in so-called mirror trades that it is examining, said several people with knowledge of
      BLOOMBERG  -  818 words
    • Article, Illustration
      Lock icon STI inches up for second day running
      725 6  -  0.4% rise to 2,863.65 comes after overnight pickup on Wall Street; trading volumes also up STOCKS By Melissa Tan melissat@sph.com.sg @MelissaTanBT ’TIS the season for dashed hopes, it seems. A day ahead of Thursday’s truncated trading session and Friday’s public holiday, the local
      Source: Bloomberg  -  725 words
    • Article
      Lock icon STI STOCKS
      305 6 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 225 co unch 226/223 271 213 6.5 5910.2 CapitaLand 329 +2 332/326 379 267 12.1 2.7 ***** CapitaMall Trust 192 unch 193.5/190.5 228 184.5 5.6 6672.5 CityDev 762 -3 770/761 1095 695
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    • Article
      Lock icon MOST ACTIVE
      34 6 VOLUME Noble 81,561,900 Rex Intl 64,323,400 StratechGroup 46,642,500 Cosco 45,293,300 Ezra 44,135,400 Market volume 1,391,394,000 VALUE DBS Grp 50,812,971 Singtel 47,476,553 Noble 36,946,909 CapitaLand 34,962,351 YZJ Shipbldg SGD 27,432,340 Market value 713,723,000
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    • Article
      Lock icon SGX ETFS
      110 6 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS INDIA US$ US673 +8 389 673/668 1000/639 673/676 84.1 STI ETF 292 +1 248 294/292 355/280 292/294 DBXT MSRussia US$ US165 103 165/163 235/155 166/167 DBXT MSBANGL US$ US99.8 -0.2 70 99.8/99.8 108.4/87.2 99.1/99.6
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 6 Dec 23 VALUE CLOSE BT OB/OS -189.00 +138.00 BT CADI -*****.00 +84.00 BT 10-day MA -*****.00 -19.00 FTSE ST Mid Cap 671.09 +4.20 FTSE ST Small Cap 403.13 +2.78 FTSE ST All Share 690.56 +2.51 FTSE ST China Top 171.29 +2.42 FTSE ST China 206.99 +1.49 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 6 STI FTSE ST All-Share ftse ST All-Share index Dec 23,2015 690.56 +2.51 (+0.36%) Current streak 2 days Day high 691.75 Day low 688.36 52-week high 847.98 (Apr 15, 2015) 52-week low 676.13 (Sept 29, 2015)
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      Lock icon STI / MSCI EAFE
      33 6 STI MSCI EAFE MSCI EAFE index Dec 22,2015 1,689.25 +6.72 (+0.40%) Current streak 1 day Day high 1,692.66 Day low 1,681.35 52-week high 1,949.49 (May 15, 2015) 52-week low 1,609.50 (Sept 29, 2015)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 6 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 12 1 1 1 0 0 13 1 1 Manufacturing 54 30 23 7 8 11 61 38 34 Commerce 17 18 12 4 6 4 21 24 16 Tpt/Stor/Comms 13 15 9
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      125 6 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 9,209 7,976 17,185 30,397 2,612 33,008 Manufacturing 139,487 46,237 185,724 88,992 3,017 92,008 Commerce 115,414 71,408 186,822 58,174 2,612 60,786 Tpt/Stor/Comms 188,216 764 188,980 137,999 64 138,063 Finance 19,022 63 19,085 110,123 8 110,131 Construction
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    • Article
      Lock icon GAINERS
      77 6 BY CENTS CLOSE UP 52w high/low DBXT MSKorea US$ 5247 306.4 4.3 6246/4478 Lyxor ChinaH US$ 1386 60.5 3.2 2055/1250 Lyxor Indonesia US$ 7169 54.8 0.5 9182/6250 DBXT MSAsExJp US$ 3193 53.4 1.2 4064/2973 Li Heng Chem 98.5 52.0 111.8 99/44 BY PERCENTAGE CLOSE UP 52w high/low Li Heng
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    • Article
      Lock icon LOSERS
      73 6 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -87.2 -0.6 *****/***** IS S&P500 US$ ***** -67.5 -0.2 *****/***** DBXT Vietnam US$ 2168 -50.6 -1.6 2786/2139 JSH USD 2702 -32.3 -0.8 3693/2575 HongkongLand USD 694 -11.3 -1.1 880/640 BY PERCENTAGE CLOSE DOWN 52w high/low STI 2800MBePW*****1 0.8 -38.5 -0.5
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    • Article
      Lock icon UNUSUAL ACTIVITY
      86 6 VOL CLOSE($) CHANGE Li Heng Chem 2,670.2 0.985 +0.520 +111.83 Infinio 910.0 0.002 +0.001 +100.00 China Flexpack 6.6 0.430 +0.070 +19.44 Sinotel Tech 12,962.7 0.138 +0.010 +7.81 Seroja Inv 196.9 0.055 -0.007 -11.29 Ace Achieve Info 28,900.1 0.030 +0.003 +11.11 IP Softcom 90.0 0.025 +0.004 +19.05 Global Tech
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    • Article
      Lock icon BROKERS’ TAKE
      502 6  -  Compiled by Melissa Tan Equities strategy Neutral, then underweight DBS Bank, Dec 23 2016 is likely to be the most volatile year for risk asset markets since the eurozone debt crisis of 2011. At the time of writing, 2015 had been the worst year for the MSCI All
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    • Article
      Lock icon CALENDAR
      8 6 DATA I 1pm S’pore Industrial Production index
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    • Article
      Lock icon Most units rangebound in holiday season’s thin trade
      426 7 CURRENCIES REUTERS London THE dollar held steady in thinned trading on Wednesday after data painted a mixed picture of the US economy, offering investors few clues as to how fast the Federal Reserve will raise interest rates next year. After the Fed’s
      REUTERS  -  426 words
    • FOREX RATES
      • Article, Illustration
        Lock icon HANG SENG
        2 7
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      • Article
        Lock icon INTERBANK CROSS RATES
        471 7 Dec 23 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.007 4.691 0.663 5.613 47.951 98.896 0.876 8.514 3.121 1.061 75.876 34.206 1.018 10.981 0.717 23.793 26.124 0.488 0.724 Canada 0.993 4.657
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        Lock icon SHANGHAI COMPOSITE
        2 7
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      • Article, Illustration
        Lock icon NIKKEI
        1 7
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      • Article, Illustration
        Lock icon DOW JONES
        2 7
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 7 Dec 23 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0177 1.0186 0.7240 0.7245 Canadian dollar 1.0105 1.0110 0.7191 0.7189 Euro 1.5361 1.5368 1.0928 1.0931 NZ dollar 0.9595 0.9604 0.6826 0.6831 Sterling pound 2.0872 2.0879 1.4848 1.4851
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 7 Dec 23 S$ Bid Offer 1-month 1.4071 1.4075 2-months 1.4085 1.4091 3-months 1.4097 1.4104 6-months 1.4128 1.4133 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        383 7 Dec 23 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Dec15 *****.50 *****.50 *****.00 *****.00 *****4 *****5 Jan16 *****.50 *****.00 *****.00 *****.00 *****5 *****7 NIKKEI 225 INDEX FUTURES Mar16 *****.00 *****.00 *****.00 *****.00 ***** *****1 Jun16 *****.00 *****.00 *****.00 *****.00 5 604 MSCI TAIWAN
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        205 7 Most active Dec 23 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 3.1 unch ***** 1 18 10 FTSEChinaA50 ***** MBeCW*****6 10.3 unch 5375 0.0 2 Ntegrator Intl Ltd W*****3 0.3 0.1 5357 1 1 -7
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        365 7 In local curr In S$ In US$ dy yr dy yr dy yr Dec 22 Index Change Change Change Change Change Change World Preliminary 1262.9 0.3 -1.0 0.2 2.0 0.4 -3.7 EAFE Preliminary 993.4 0.2 0.7 0.1 0.8 0.4 -4.8 Europe Preliminary 1379.5 0.2 -0.2
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 7 Dec 23 $S Offer Bid 0vernight 0.01 Par 1-month 1.0 0.875 2-months 1.125 1.0 3-months 1.1875 1.0625 Overnight mode: 0.40 US$ Offer Bid 7 days 0.45 0.35 1 month 0.48 0.38 2 months 0.60 0.40 3 months 0.70 0.50 6 months 0.90 0.70 9 months 1.05 0.85 12
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      • Article
        Lock icon GOVERNMENT SECURITIES
        63 7 Dec 23 Dec 23 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0F 1.375 01-Oct-17 100.64 100.73 100.67 5-Year N*****0S 2.000 01-Jul-20 100.71 10-Year NX*****Z 2.375 01-Jun-25 99.15 15-Year NZ*****F 2.875 01-Sep-30 101.18 20-Year NZ*****V 3.375 01-Sep-33 107.89 108.00 107.97 30-Year NA*****N
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        193 7 Dec-22 Price Net change change Last Trade Agricultural Dec-22 CBOT Soybeans (US cents/bu) 885.25 -6.00 -0.67% 14/01/2016 CBOT Soybean Oil (US cents/lb) 30.44 -0.33 -1.07% 14/01/2016 CBOT Wheat (US cents/bu) 471.75 -7.25 -1.51% 14/03/2016 Dec-22 LIFFE Cocoa (£/tonne) 2230.00 -18.00 -0.80% 14/03/2016 LIFFE Coffee (US$/tonne) 1491.00 9.00 0.61%
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      • Article
        Lock icon PALM OIL
        57 7 Dec 23 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 16 2280.0 2294.0 2295.0 2280.0 216 4106 Feb 16 2384.0 2421.0 2423.0 2380.0 2956 ***** Mar 16 2457.0 2487.0 2490.0 2456.0 ***** ***** Apr 16 2507.0 2534.0
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    • Article, Illustration
      Lock icon Swiber buys US$10m pipelay vessel
      412 8  -  Sea Horizon, a seasoned shallow-water barge, is to be mobilised as part of an 82-strong fleet for work off India By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore SWIBER Holdings announced on Tuesday the US$10 million purchase of a seasoned shallow-water pipelay vessel, Sea Horizon, confirming
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    • Article
      Lock icon SGX Real Estate Index priced below book value; yields near 6%
      334 8  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore THE SGX Real Estate Index is priced below book value with yields near 6 per cent according to an SGX My Gateway report. As of Tuesday’s close, the 54 stocks were trading at
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    • Article
      Lock icon Sunpower Group clinches deal to build, operate plant in Hebei
      321 8  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore MAINBOARD-listed Sunpower Group has won a contract to build and operate an environmentally friendly steam and electricity plant in Hebei’s Gaoyang Circular Economy Industrial Park. The total investment for Phase 1 of the build-operate-own/build-oper-ate-transfer
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    • Article
      Lock icon Interplex receives takeover offer of S$450m from Baring Asia
      397 8  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore PRECISION engineering firm Interplex, formerly known as Amtek Engineering, has received a takeover offer at S$0.82 a share, valuing the firm at S$450 million. The offer is 15.5 per cent above the last traded price
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    • CORPORATE DIGEST
      • Article
        Lock icon Courage Marine Group
        142 8 DRY bulk carrier owner Courage Marine said it has entered into a memorandum of understanding to possibly buy 70 per cent of Hope View International. The target company, as represented by the vendors, indirectly owns a China company that provides logistics and customs clearance services among others.
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      • Article
        Lock icon Abterra Limited
        100 8 COAL and iron ore trader Abterra said financial controller Chiu Yuen Ting, 31, has resigned to pursue personal interests. She was appointed in June and had replaced Li Chun Kwang, 30, who was appointed last December. Abterra recorded no revenue in the nine months ended Sept 30 and
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      • Article
        Lock icon Yoma Strategic
        67 8 MYANMAR play Yoma Strategic said its joint venture company Kospa has opened a US$5 million multi-temperature storage facility in Yangon. The company said that as Myanmar’s economy grows, there will be a need for infrastructure to support the export of agriculture and fisheries-related products. The demand for storage,
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      • Article
        Lock icon Rex International
        39 8 CATALIST-listed oil exploration and production firm Rex international rose 10 per cent to S$0.101 on Wednesday. It announced late Tuesday night that subsidiary Lime Norway has participated in the discovery of oil in a North Sea well.
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    • Article
      Lock icon SGX MAINBOARD
      1878 9 Transaction date: Dec 23 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil 90 42 8Telecom Vol AAT Day Div GrYld Net MCap High 153 131.5 AIMSAMP Cap Reit 139 +0.5 262 140 138.5 1 8 882.2 Company 175.5
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    • Article
      Lock icon SGX CATALIST
      376 9 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Company Last Sale 10.1 2.3 t Abundance Intl (000) High 1 0.3 t Advanced Systems 0.4 unch 29 0.4 0.4 10.5 Low Div C'vr GrYld Net P/E MCap 35 3.6 1.6
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    • Article
      Lock icon SGX ETF
      123 9 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E 123.5 110.2 ABF SG Bond ETF 115.7cd +0.2 26 116 115.5 528.2 Last Sale vol 4258 2750 DBXT China50 US$ US2950 -6 4 2950 2943 8.1 Day 1750 1151 DBXT MSCHINA
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      Lock icon Page 8 Advertisements Column 1
      738 8 NOTICES SIGNODE SINGAPORE INVESTMENTS PTE LTD COMPANY REGISTRATION NO. *****6550D (INCORPORATED IN THE REPUBLIC OF SINGAPORE) NOTICE OF RESOLUTIONS NOTICE IS HEREBY GIVEN THAT AT AN EXTRAORDINARY GENERAL MEETING OF THE COMPANY WAS DEEMED TO HAVE BEEN HELD AT 50 RAFFLES PLACE #17-01 SINGAPORE *****3 ON THE 16TH DAY OF
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      71 9 ON THIS OPPORTUNITY Reach out to investors and affluent readers in this Investor Information Page. Advertise at less than $5,800 per full colour ad (a special package for 4 leading newspaper titles The Straits Times, The Business Times, Lianhe Zaobao and The New Paper Sunday). Contact our Sales Team now!
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  • REAL ESTATE
    • Article
      Lock icon Ranking of Asia-Pac logistics hubs expected to stay unchanged
      658 10  -  CBRE also sees Singapore holding up despite the challenge from Malaysia’s Iskandar as the growth of e-commerce will probably buoy its growth in the next 10-20 years By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore PROPERTY consultancy CBRE expects the top eight global
      658 words
    • Article, Illustration
      Lock icon Anbang ups stake in Vanke with 2.8b yuan buy
      315 10 REUTERS Hong Kong ANBANG Insurance Group has raised its stake in China Vanke, the country’s largest developer, to 7.01 per cent by acquiring shares worth 2.84 billion yuan (S$617 million) as Chinese insurers beef up their property portfolios. Anbang’s share acquisition
      REUTERS; PHOTO: REUTERS  -  315 words
    • Article
      Lock icon Sidelined top architect raps Tokyo’s plan for 2020 Olympic stadium
      378 10 AFP NYT Tokyo IRAQI-BRITISH architect Zaha Hadid, whose winning design for Japan’s new national stadium was cancelled over cost overruns, has lashed out at the new, slimmed down design. Japan chose the new design by a Japanese architect on Tuesday
      AFP; NYT  -  378 words
    • Article, Illustration
      Lock icon M’sian home prices propped up by GST, weak ringgit and hefty compliance costs
      740 11  -  While prices have moderated amid falling demand, a home remains out of reach for many Malaysians By Pauline Ng btworld@sph.com.sg Kuala Lumpur AMID Malaysia’s soft economy, property prices have moderated on reduced demand but a home remains
      PHOTO: BLOOMBERG  -  740 words
    • Article, Illustration
      Lock icon Davao expands seawards by building four islands
      1126 11 URBANISATION BLOOMBERG Manila IN the shadow of the Philippines’ highest volcano, Davao city’s reputation as one of the safest, most vibrant and best-run cities in the country is drawing migrants and business people in their thousands. But there’s nowhere to put them. Encompassed
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,126 words
    • Article
      Lock icon HK-led group wins US$2.5b Tahiti beach resort project
      190 11 REUTERS Sydney A HONG KONG-LED consortium has been awarded a 70-year contract to build and operate a US$2.5 billion luxury beach resort in French Polynesia that the government hopes will revitalise the South Pacific nation’s struggling economy. Headed by real estate firm
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    • Article
      Lock icon Hotels impose fees, restrictions that drive new sources of revenue
      773 11 NYT New York TH E deal on the website of Hilton Hotels Resorts seemed like a good one to Jeffrey Buszkiewicz: A 72-hour online sale after Thanksgiving showed a US$129 room at a Hilton Garden Inn in Manhattan for Christmas
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      Lock icon White Plains repositions to draw new residents
      1040 12 The city has built bike paths; promoted a car-sharing programme; plans to redevelop area around train station for mixed use, including retailing, residential and park space NYT white Plains, New York AS rents in Brooklyn and Manhattan continue a relentless ascent, New Yorkers
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      Lock icon Househunt
      1333 12 Property transactions for districts 1 to 28 with contract dates between Nov 11 and Nov 17,2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED The Sail Marina Bay Apt 13/11/2015 99 883 1560 1767 District 3 NON-LANDED Alexis
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      168 10 2jO Ob. ZM 500 lw> V© ©4 Pillars tcTa Successful Leadership h|s J rij|E /S( •> r-S^ 11 1 1 rtfkb id f»°/ iiUi Discover the science and technique k ;o 1 *?o*n Vv :t to inspire and transform your team to achieve /tv h “tompar^y. Vl*o hi" y, 5**
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      82 11 AUSTRALIAN PROPERTY FINANCE Have you recently bought an Australian property and need a loan to complete the transaction? Already own and want to ensure you have the best loan? CONTACT SPECIALIST MORTGAGE HERE IN SINGAPORE FOR A FREE IMPARTIAL REVIEW OF ALL YOUR OPTIONS. Mil YEARS smatSG'c jg W: www.smats.net
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon Outlook dims for HKEx after wild year
      835 14 Analysts downbeat on falling trading volumes; stock had risen 80% before a 35% drop erased US$16b in market cap BLOOMBERG Hong Kong THE outlook for Hong Kong’s exchange operator is dimming after the wildest year for its investors since 2008. So say analysts
      BLOOMBERG; PHOTO: REUTERS  -  835 words
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      Lock icon Goldman Sachs tops league tables as global dealmaking hits all-time peak in 2015
      702 14 BLOOMBERG New York THERE have been 37,212 deals in 2015 roughly one for every employee of Goldman Sachs Group Inc, the Wall Street bank that has been one of the big winners of the current merger boom.
      BLOOMBERG  -  702 words
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      Lock icon A good year for managers of currency-hedged ETFs
      356 14 REUTERS New York AS the US dollar strengthened throughout 2015, managers of curren-cy-hedging exchange-traded funds had a banner year they collected one of every US$4 invested in US ETFs and rewarded their investors well. Now, they are doubling down with plans for
      REUTERS; PHOTO: BLOOMBERG  -  356 words
    • Article
      Lock icon Wary investors steer clear of European banks being restructured
      828 14 BLOOMBERG London ACROSS European banks, new chief executive officers have rolled out overhauls, pledging to fire thousands, exit businesses and cut assets to boost profit. For now, investors aren’t convinced the plans will pay off soon. Shares of Deutsche Bank AG,
      BLOOMBERG  -  828 words
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      37 14 DELHI’S DO-GOODER Ravi Kalra provides shelter for the abandoned, cremates unclaimed bodies. He is also a social activist and environmentalist MANAGEMENT THINKER WHO COLLECTS ART AVAILABLE TODAY TO ADVERTISE: CALL SHAN (*****861) KALWANT (*****327) OR NISHAL (*****438)
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      78 14 cc Too many still prefer lesser-educated wives because they believe such wives are more manageable. I suggest this is short-sighted because intellectual companionship will be missing in their lives and their children will need more private tutors to make up for their grades in school.” Speaking at the Tanjong Pagar
      78 words
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      231 15 Christmas Special 2-Day Pass $15* Promotion ends on 31 December 2015 Ticket Prices inclusive of GST: TICKETS 1-DAY PASS $20 Early bird 2-DAY PASS $30 $40 Validity (Year 2016) 1 Jan 13 Jan Normal $30 14 Jan 20 Jan Venue: SPH News Centre Auditorium 1000 Toa Payoh North Singapore *****4
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  • ENERGY & COMMODITIES
    • Article
      Lock icon Petronas presses on with Bokor tender but uncertainty prevails
      540 16  -  Under-US$40 oil prices pose challenges to the project’s economics By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore THE upstream subsidiary of Malaysia’s state-owned Petronas has pressed on with a tender for an anchor production facility of the delayed Bokor phase 3 field
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      Lock icon Macquarie sees Chinese steel getting cheaper
      598 16 BLOOMBERG Shanghai THE world needs to get used to cheap Chinese steel, with export prices poised to fall again next year as the world’s biggest producer adjusts to demand that’s dropping for the first time in a generation. The price of hot-rolled coil, used
      BLOOMBERG; PHOTO: REUTERS  -  598 words
    • Article
      Lock icon Macquarie fund said to be close to purchase of Universal Terminal stake
      307 16 BLOOMBERG Singapore A FUND run by Macquarie Group Ltd is nearing an agreement to buy more than 40 per cent of Singapore oil-stor-age provider Universal Terminal, sources with knowledge of the matter said. The deal could value Universal
      BLOOMBERG  -  307 words
    • Article
      Lock icon Gold loses sparkle for wary buyers in China’s jewellery hub
      868 16 REUTERS Shenzhen AS Chinese consumers cut back on gold purchases for a second year in a row, nowhere is the slowdown being felt more than in the country’s once-bustling jewellery manufacturing and retail hub of Shuibei. Gold demand has taken
      REUTERS  -  868 words
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      28 16 Capitalize opportunities in the market using CFDs regardless of bull or bear market Open a new CFD trading account and enjoy 50% commission rebate* *Terms and conditions apply
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      47 16 HOT PROPERTY 16A BARKER RD. Prime Chancery area. 2800/ 5100 sf. New,rebuilt, beautiful design. 5 1+ family pool. $18.5k. Also sale. 396A DUNEARN RD 3Sty Semi-d 3800/6100sf 7+1+ pool quiet immed LANDED PROPERTIES FOR RENT Check out these properties and more in The Straits Times Classified now!
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  • TECHNOLOGY
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      Lock icon No let-up to frenetic 2015 for Asian tech
      796 17 From folding phones to the mysterious Bitcoin creator, the technology sector in Asia will not be boring BLOOMBERG Taipei A ROLLER-coaster ride in financial markets, deal frenzy among Chinese Web operators spurred on by Alibaba and Tencent, the rise of Asian unicorns
      BLOOMBERG; PHOTOS: AFP, BLOOMBERG  -  796 words
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      Lock icon Amazon turns to animals to grab shoppers’ attention
      515 17 BLOOMBERG Seattle AMAZON.COM Inc is not above the surefire trick of using cute animals to woo shoppers. The world’s largest online retailer is spending more money on flashy TV commercials featuring dogs and ponies and more on marketing overall in a push
      BLOOMBERG  -  515 words
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      Lock icon Book firm’s software-generated stories carve a niche in children’s publishing
      820 17 NYT New York ONE of the best presents that Asi Sharabi ever got was a bad book. It was a customised book for his three-year old daughter, Thalia, and apart from the initial thrill of seeing her name in the
      NYT; PHOTO: NYT  -  820 words
    • Article
      Lock icon NZ court says Kim Dotcom can be extradited to the US
      344 17 REUTERS Auckland GERMAN tech entrepreneur Kim Dotcom on Wednesday lost a bid to block his extradition from New Zealand to the United States to face charges including copyright infringement and money laundering, a major victory for the US Department
      REUTERS  -  344 words
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  • CONSUMER
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      Lock icon Patients fear spike in price of old drugs
      1222 18 Wall Street-traded pharma firm seeks approval for modified version of drug given free by family-run company NYT New York FRED Kellerman, a retired car salesman from Los Angeles, was bedridden with a rare neuromuscular disease when he started taking a drug in
      NYT; PHOTO: NYT  -  1,222 words
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      Lock icon Nike reports 20% jump in futures orders
      424 18 Better-than-expected figure boosted by strong demand in North America and China REUTERS London NIKE Inc, the world’s largest footwear maker, reported futures orders that breezed past analysts’ estimates, powered by strong demand in North America and China. The company’s shares, already the top-performing
      REUTERS  -  424 words
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      Lock icon Target’s mascot, Bullseye, learns new tricks in marketing blitz
      1351 18 NYT New York AS the United States geared up for the latest Star Wars extravaganza, Bullseye lounged at a private spa outside Los Angeles, soaking in a bath, sprawling out for a massage and offering up her padded feet for a
      NYT; PHOTO: NYT  -  1,351 words
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  • GOVERNMENT & ECONOMY
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      Lock icon UK economy loses momentum as pace of growth revised lower
      627 19 Q3 GDP rose 0.4% instead of the 0.5% estimated, while Q2 growth was revised down to 0.5% BLOOMBERG London THE UK economy expanded less than previously estimated in the past two quarters in a sign that growth is losing some
      BLOOMBERG; PHOTO: BLOOMBERG  -  627 words
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      Lock icon India clears new arbitration law to resolve commercial disputes
      320 19 BLOOMBERG New Delhi INDIAN lawmakers approved a bill to hasten resolution of commercial disputes through arbitration, another step in Prime Minister Narendra Modi’s plan to make it easier to do business in Asia’s third largest economy. The law would impose deadlines
      BLOOMBERG  -  320 words
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      Lock icon Abe’s promise to restore Japan economy haunting him
      706 19 AFP Tokyo IT WAS an irresistible promise: elect me, I’ll bring back Japan’s once-soar-ing economy and restore its battered national pride. Three years later, Prime Minister Shinzo Abe is facing the enormity of his grand ambitions, and the clock is ticking. Mr
      AFP  -  706 words
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      Lock icon Saudi govt to diversify income and raise efficiency
      369 19 REUTERS Riyadh SAUDI Arabia will seek to diversify its sources of income and improve the efficiency of government spending as it strives to reduce its dependence on oil revenue, which has plunged since last year, King Salman said on Wednesday. The world’s
      REUTERS  -  369 words
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      Lock icon Draghi’s less-than-super stimulus pushes bonds to monthly loss
      436 19 BLOOMBERG Edinburgh INVESTORS in euro-area government bonds are set to suffer their first monthly loss since August after wagers on additional stimulus proved to be too optimistic for Mario Draghi to satisfy. Benchmark German 10-year bonds extended their decline to three days
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      Lock icon Thailand’s Q4 GDP growth may be close to Q3’s 2.9%
      244 19 REUTERS Bangkok THAILAND’S fourth-quarter economic growth is expected to be similar to the third as the junta’s economic measures have lifted the confidence of consumers and investors, a deputy prime minister said on Wednesday. The economy grew 2.9 per cent
      REUTERS  -  244 words
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  • TRANSPORT
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      Lock icon VW to ditch ‘pretentious’ Winterkorn-era slogan Das Auto
      1199 20 Its leaders, anxious to proclaim a reformed corporate culture, have criticised it as out of step with a company trying to show new-found humility REUTERS Berlin SCARRED by a public relations thrashing over its “Dieselgate” scandal, Volkswagen is planning an image offensive,
      REUTERS; PHOTO: AFP  -  1,199 words
    • Article
      Lock icon China Southern to buy 10 Airbus planes worth US$2.27b
      311 20 AFP Beijing CHINA Southern Airlines announced Wednesday it would buy 10 aircraft worth a total US$2.27 billion from European aerospace giant Airbus, as a Chinese boom in air travel defies slowing economic growth. The carrier, one of China’s “big three” with
      AFP  -  311 words
    • Article
      Lock icon Uber makes headway in fending off drivers’ class action suit
      291 20 REUTERS London UBER Technologies Inc partially won a ruling that could potentially put a hold on the outcome of a lawsuit against the ride service, placed by California drivers over their employment status. US District Judge Edward Chen granted a
      REUTERS  -  291 words
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      Lock icon Delta spreads wings with hands-on approach
      870 20 BLOOMBERG Dallas BY TYPICAL industry measures, Delta is the world’s third-largest airline. Yet, as an airline heavily invested in other airlines, Delta is arguably the world’s biggest player by a large margin. No other single airline has such power to shape the industry and
      BLOOMBERG; PHOTO: BLOOMBERG  -  870 words
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      Lock icon SHIPPING TIMES
      770 21 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville APL Columbus V010E 23 May 06 Jun 22 Jun 26 Jun 29 Jun 01 Jul 03 Jul 06 Jul 08 Jul 10 Jul 10 Jul 15 Jul
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      188 21 PLACE YOUR AD HERE r THE BUSINESS TIMES Shipping times CALL JOE WONG AT 9620 132 ~7 TIMES rf 4 Announce Your Corporate Development Come publicise your Project Completion, Ship Christenings Delivery of Newbuilds, Vessel Conversion Refurbishment, Award Wins Certifications, Corporate Image, Corporate Developments and Company Anniversary. There’s no better
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  • OPINION
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      Lock icon Digital economy offers unique opportunities, but also challenges
      594 22 EDITORIAL As the year draws to a close the contours of Singapore’s “Smart Nation” dream have become clearer. Trials at the Jurong Lake District of technologies such as HetNet (heterogeneous network) show that ubiquitous connectivity is the key to rolling out digital
      594 words
    • Article
      Lock icon Creating a region of cooperation
      805 22  -  THE BOTTOM LINE By Sundeep Waslekar T The writer is president of Strategic Foresight Group, an international think-tank based in India, which has worked with or on 50 countries across four continents THE Asian Infrastructure and Investment Bank (AIIB) will begin its operations in 2016.
      805 words
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      Lock icon An Asean plan for corporate citizenship?
      1525 22  -  Such a regional national action plan, in the wake of the Paris Agreement, could tackle issues of climate change and human rights.BY THOMAS THOMAS, MAHDEV MOHAN JAYA ANIL KUMAR rights.BY THOMAS THOMAS, MAHDEV MOHAN JAYA ANIL KUMAR T Thomas Thomas is the CEO of
      PHOTO: REUTERS  -  1,525 words
    • Article
      Lock icon How much oil is needed to power Santa’s sleigh?
      1018 23  -  COMMENTARY By Michael McDonald T The writer is an assistant professor of finance and a consultant to companies regarding capital structure decisions and investments EVERY year around the world, hundreds of millions of children wait anxiously for Santa Claus to arrive
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    • Article
      Lock icon A peculiarly British persecution complex
      634 23  -  By Niels Thygesen T The writer is emeritus professor of economics at Copenhagen University and a member of the official Monetary and Financial Institutions Forum advisory board Copenhagen THE UK’s desire that the European Union be recognised as a “multicurrency bloc” is misguided and unworkable.
      634 words
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      Lock icon Par funds managed according to rules
      459 23  -  LETTER TO THE EDITOR Pauline Lim Executive director Life insurance Association Singapore WE refer to the articles “Life insurers urged to show they can meet bonus forecasts” and “Par fund clarity full bonus history is quite reasonable” (BT, Dec 14, 2015). In our efforts
      459 words
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      Lock icon Restoring the world of yesterday tomorrow
      1113 23  -  We must focus on adapting governance to the 21st century.BY century.BY KEMAL DERVIS T The writer, former minister of economic affairs of Turkey and former administrator for the United Nations Development Programme (UNDP), is a vice-president of the Brookings Institution Washington, DC THE year
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  • LIFE & CULTURE
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      Lock icon Seafood restaurants in US cast a wider net for sustainable fish
      1313 24 They are selling wild and local fish which are not threatened with extinction NYT New York MICHAEL Chernow doesn’t want people to step inside Seamore’s, his fish-fixated restaurant on the rim of Little Italy in Manhattan, worrying that they’re
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      Lock icon Getting to know Canada’s diverse wine region
      1104 24 NYT Jordan, Ontario WINE country on the Niagara Peninsula of Ontario, Canada, may sound a little incongruous. But the area about a half-hour west of Buffalo is home to a wine region of depth, diversity and distinction. And as delicious as the local
      NYT; PHOTO: NYT  -  1,104 words
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  • Page 24 Miscellaneous
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      Lock icon Page 24 Miscellaneous Column 1
      332 24 CRYPTIC CROSSWORD Across 1 A theatre emptied by prudish church leader (7) 5 Senior churchman accepts notice quietly, with a straight face (7) 9 The French framing a note in error (5) 10 Criminally obtained title long challenged (3-6) 11 Drunk chased by partner, initially with popular item of kitchenalia
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