The Business Times, 21 January 2016

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Microfilm: NL33745
Total Pages: 26
1 26 The Business Times
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  • Title Section
    Lock icon Masthead
    22 1 THE BUSINESS TIMES S$1.00 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BTBreakingnews CO REGN NO *****2868E MCI (P) 039/08/2015 Thursday, January 21, 2016
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  • Article
    Lock icon MARKETS
    27 1 Wednesday Change STI 2,559.77 -78.70 KL COMP 1,618.83 -10.39 NIKKEI 225 16,416.19 -632.18 HANG SENG 18,886.30 -749.51 SHENZHEN B 1,174.89 -19.81 DOW (10.45 EST) 15,630.60 -385.42
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  • Article, Illustration
    Lock icon DAILY DIGEST
    212 1 SingPost’s appointment of PwC as the special auditor has raised serious concerns among stakeholders. TOP STORIES 3 CapitaLand Commercial Trust will keep its sights on Singapore in the short and medium-term, citing risks in overseas markets. COMPANIES MARKETS 6 Iskandar Malaysia needs catalysts such as better infrastructure to
    212 words
  • Article
    Lock icon Few hiding places left for investors as STI approaches 2,500
    1082 1  -  China woes, vulnerable HK dollar pummel regional stock markets, but analysts point to “fear factor” at work rather than fundamentals changing By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore INVESTORS in Asia got out of risk assets like cats from a bath
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  • Article
    Lock icon HSBC S’pore continues to invest; incorporation set for H1
    576 1  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore HSBC continues to invest in Singapore despite slowing business as it’s banking on the growing affluent middle classes in the region. Europe’s largest bank is also on track to locally incorporate its retail operations
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  • Page 1 Advertisements
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      Lock icon Page 1 Advertisements Column 1
      183 1 8 "*****1 *****4 THE BUSINESS TIMES The L.U.C Collection Each part is a masterpiece The L.U.C Quattro is equipped with four independent barrels stacked in pairs and totalling a full 1.8 metres of spring. This patented mechanism ensures an exceptional nine-day power reserve and above all, amazing precision. Like every
      183 words
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      17 1 MARKETS ON THE EDGE China’s lost credibility to weigh on emerging markets: Citi strategist TOP STORIES 2
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      22 1 REITS STRATEGY Dividend stripping helps S-Reits outperform market: UOB-KH companies markets 5 INVESTMENT ROUNDTABLE Positive outlook for emerging markets SPECIAL REPORT 21
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      31 1 Markets on edge: More reports, Page 2 Editorial: Despite low valuations, EM investors should tread cautiously, Page 22 For HSBC investors, its HQ debate is eclipsed by identity issue, Page 14
      31 words
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  • TOP STORIES
    • Article
      Lock icon Emerging-market slump set to continue this year: IIF
      500 2  -  Net outflows from 30 EMs hit US$735b in 2015; the IIF expects net capital outflow to be US$448b this year MARKETS ON EDGE By Anthony Rowley btworld@sph.com.sg Tokyo THE magnitude of the capital flight from the world’s emerging markets (EMs) in 2015
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    • Article, Illustration
      Lock icon China’s lost credibility to weigh on emerging markets: Citi strategist
      487 2  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore CHINA is now beset with problems of credibility, as the market is deeply sceptical that the central bank will be able to defend the yuan, a senior strategist at Citi Private Bank said on
      PHOTO: REUTERS  -  487 words
    • Article, Illustration
      Lock icon Market mayhem
      254 2  -  As turmoil engulfs financial markets, traders are betting that the US Federal Reserve will change its forecast of four hikes in 2016 and keep interest rates low. Fed fund futures price a 39 per cent probability of just one rate hike by end-2016, a 32 per cent chance
      Photo: REUTERS; Source: Bloomberg  -  254 words
    • Article
      Lock icon US crude falls below US$28 after IEA’s ‘drown in oil’ remark
      618 2 AFP BLOOMBERG Singapore US crude tumbled below US$28 a barrel in Asia on Wednesday, hitting new 12-year lows, after the International Energy Agency (IEA) warned that the oil market could “drown in oversupply”. West Texas Intermediate (WTI), the US
      AFP; BLOOMBERG  -  618 words
    • Article
      Lock icon Auditor choice raises more doubts
      863 3  -  Decision shows how badly the board needs a corporate governance overhaul SINGPOST SCRUTINY HOCK LOCK SIEW By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore IN most cases, companies undergo special audits to clear doubts and assure its various stakeholders. But with its recent decision to name PricewaterhouseCoopers
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    • Article
      Lock icon Keith Tay should take leave of absence
      1022 3  -  By David Gerald The writer is the founder, president CEO of the Securities investors Association (Singapore) SINGAPORE Post’s (SingPost) appointment of PricewaterhouseCoopers (PwC) as the special auditor has raised serious concerns among stakeholders. SingPost has given the reasons for appointing PwC in its
      1,022 words
    • Article, Illustration
      Lock icon Singapore needs ‘global blend’ of people to progress: DPM Teo
      703 4  -  Foreigners are needed where the workforce falls short, but citizens mustn’t feel crowded out By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore SINGAPORE must continue to tap a “global blend” of people and ideas to move the country ahead and create more
      703 words
    • Article
      Lock icon COE premiums for small cars rebound
      450 4  -  By Samuel Ee samuelee@sph.com.sg Singapore IT was no surprise that the second bidding exercise for January saw the certificate of entitlement (COE) premium for small cars rebounding strongly. Two weeks ago, the small car premium had dipped sharply by more than S$9,000 to S$45,002.
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    • Article, Illustration
      Lock icon 27 radicalised Bangladeshis arrested in Singapore under ISA: MHA
      965 4 THE STRAITS TIMES Singapore TWENTY-SEVEN male Bangladeshis working in Singapore have been arrested under the Internal Security Act (ISA). Investigations showed that the group, which has been meeting since 2013, supported the armed jihad ideology of terrorist groups such as Al-Qaeda
      THE STRAITS TIMES; PHOTO: REUTERS/ MINISTRY OF HOME AFFAIRS  -  965 words
    • Article, Illustration
      Lock icon Asean CEOs more confident than others of revenue growth in 2016: survey
      484 4  -  Emergence of regional trading institutions cited as a reason behind increased optimism WORLD ECONOMIC FORUM By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore EVEN as chief executive officers (CEOs) around the world expressed increased pessimism about the global economy’s growth,
      Source: PricewaterhouseCoopers  -  484 words
    • Article
      Lock icon WEF takes fresh look at emerging markets
      444 4 NYT New York EVER since emerging markets became a major asset class in the early 1990s, a parade of potentates, policymakers and corporate chieftains have flocked to the stylish village of Davos in the Swiss Alps in the hope of becoming the latest
      NYT  -  444 words
  • Page 2 Advertisements
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      47 2 DISTRIBUTORS/SALES AGENT REQUIRED Made by local Scallop shell powder "SAKURA"is widely used for bacteria elimination, cleaning and freshness preservation of vegetables fruits, removal of residue pesticides, wax etc. 100% natural, Made In JAPAN. Interested person please contact Shin Nippon Trading Co., Ltd. Japan Ph:+81 -*****2242 Email:mani@njtrade.jp web:www.njtrade.jp
      47 words
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      9 2 Investment Roundtable: Positive outlook for emerging markets, Page 21
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      225 3 Letter to the Editor: SingPost should not have picked PwC, Page 23 BMW PRIORITY PLUS*. STEP INTO A WORLD OF PRIVILEGE. BMW DISPLAY KEY. UNIQUE IN ITS ESSENCE. THE LION CITY HAS A NEW KING. THE ALL-NEW BMW 7 SERIES. DRIVING LUXURY. The best way to predict the future, is
      225 words
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  • COMPANIES & MARKETS
    • Article
      Lock icon Dividend stripping helps S-Reits outperform market: UOB-KH
      876 5  -  Findings by two analysts show empiral evidence of 62% outperformance REITS STRATEGY By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore BUY real estate investment trusts (Reits) before the dividends normally referred to as distributions are paid and hold them for a while after the payout,
      876 words
    • Article
      Lock icon Secura Group IPO shares come with free warrants
      378 5  -  By Grace So graceso@sph.com.sg Singapore SINGAPORE-BASED security solutions provider Secura Group has launched its initial public offering (IPO) for a Catalist listing. Its 112 million invitation shares, priced at S$0.25 apiece, come with 224 million free detachable warrants, on the basis of
      378 words
    • Article
      Lock icon Industrial Reits to eye overseas acquisitions in 2016: Moody’s
      730 5  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore SINGAPORE industrial real estate investment trusts (Reits) will continue to look overseas for acquisitions in 2016 as they pursue asset growth and yield accretion, away from challenging domestic business conditions, Moody’s said in a Wednesday
      730 words
    • Article
      Lock icon CCT says it is sticking to Singapore focus
      920 6  -  The Reit also signals that an acquisition of the remaining 60 per cent of CapitaGreen remains on the cards By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore MANY real estate investment trusts (Reits) have expanded overseas, but CapitaLand Commercial Trust (CCT) says it will
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    • Article, Illustration
      Lock icon Ezra dives on spate of bad news
      767 6  -  HOT STOCKS By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore SHARES of offshore marine company Ezra Holdings took a beating on Wednesday, hit by an avalanche of bad news from a proposed share consolidation, its first-ever quarterly loss since listing, to forced-selling of shares pledged
      Source: Bloomberg  -  767 words
    • Article, Illustration
      Lock icon SembMarine, Sembcorp in active trade on privatisation rumours
      521 6  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore SEMBCORP Marine (SembMarine) and its parent company Sembcorp Industries were in active trading on Wednesday following rumours of a full takeover by the parent firm or an injection of funds. There is also speculation that a
      Source: Bloomberg  -  521 words
    • CORPORATE DIGEST
      • Article
        Lock icon Charisma Energy
        95 6 RISING Sun Energy, which Charisma Energy owns together with Singapore solar firm Sunseap International and an Indian partner, will be building a solar farm in India with a capacity of 140 megawatts at peak conditions. It will also have a 25-year contract to supply power to National Thermal
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      • Article
        Lock icon Koh Brothers
        73 6 Engineering solutions provider Koh Brothers Eco Engineering Limited, a subsidiary of Koh Brothers, said on Wednesday that it has secured contracts worth S$35.4 million during the financial year ended Dec 31, 2015. The company’s Oiltek subsidiaries Oiltek Sdn Bhd and Oiltek Nova Bioenergy Sdn Bhd and its Singapore
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      • Article
        Lock icon Swiber Holdings
        47 6 SWIBER Holdings’ wholly-owned offshore construction subsidiary has acquired 38 per cent of Deltatek Offshore for 9,500,001 Nigerian naira (US$47,679, S$68,590). Deltatek, a company incorporated in Nigeria, will be principally engaged in providing offshore engineering, procurement, construction, installation and commissioning services in the Sub-Saharan African region.
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    • Article, Illustration
      Lock icon SHS tapping solar power for next growth engine
      872 6  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore FLUSH with cash from the recent disposal of its core petroleum distribution business, SHS Holdings is on the lookout for a new business to enter. And following the successful conclusion of the climate change conference in
      PHOTO: LAURA NG  -  872 words
    • Article
      Lock icon SGX’s Q2 profit slips on stock market’s rough patch
      432 7  -  Q2 earnngs fall 3.3% to S$83.7m; half-year earnings up 11.5% at S$183m By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore SINGAPORE Exchange’s (SGX) net profit slipped 3.3 per cent to S$83.7 million in its second fiscal quarter as stock-market activity slowed. The market
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    • Article
      Lock icon FCOT’s Q1 DPU up 2%
      317 7  -  By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore HIGHER rentals from Alexandra Technopark and the first full quarterly contribution from an Australian property lifted Frasers Commercial Trust’s (FCOT) showing for the first quarter ended December 2015. The trust posted a higher distribution per unit (DPU) of 2.51
      317 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 8 STI Catalist Straits Times index Jan 20,2016 2,559.77 -78.70 (-2.98%) Current streak 1 day Day high 2,616.36 Day low 2,557.84 52-week high 3,539.95 (Apr 15, 2015) 52-week low 2,559.77 (Jan 20, 2016) FTSE ST Catalist index Jan 20,2016 446.29 -8.79 (-1.93%) Current streak 1 day Day high 457.41 Day low
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    • Article
      Lock icon GAINERS
      77 8 BY CENTS CLOSE UP 52w high/low DBXT S&P Short US$ 2362 122.3 3.7 2393/2086 GLD US$ ***** 54.7 0.4 *****/***** DBXT iBoxxSing SG$ ***** 54.0 0.4 *****/***** Venture Corp 806 13.0 1.6 868/764 Hyflux 6% CPS ***** 10.0 0.1 *****/***** BY PERCENTAGE CLOSE UP 52w high/low OLS W*****5 0.2
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    • Article
      Lock icon LOSERS
      75 8 BY CENTS CLOSE DOWN 52w high/low SPDR S&P500 US$ ***** -750.9 -2.8 *****/***** DBXT ASX200 US$ 2900 -431.6 -9.4 3908/2900 DBXT S&P500 US$ 3216 -277.6 -5.7 3626/3193 JSH USD 2639 -155.4 -3.9 3693/2524 Jardine C&C 3335 -144.0 -4.1 4258/2636 BY PERCENTAGE CLOSE DOWN 52w high/low DBS MB eCW*****4 0.1
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    • Article
      Lock icon UNUSUAL ACTIVITY
      82 8 VOL CLOSE($) CHANGE ITE Electric 550.1 0.049 +0.009 +22.50 Yuexiu Prop 31.3 0.210 -0.015 -6.67 Hengyang Petro 480.8 0.115 +0.005 +4.55 Sinostar Pec 98.4 0.115 +0.034 +41.98 PterisGlobal 388.3 0.400 -0.035 -8.05 Jadason 300.1 0.007 -0.003 -30.00 Asia Fashion 1,669.0 0.015 -0.001 -6.25 Chiwayland Intl 3,409.0 0.055 -0.013
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    • Article, Illustration
      Lock icon Blue chips in play as STI falls 2.98%
      622 8  -  Singtel, banks major drivers of index’s descent as fears over China economy, oil slide continue to plague market STOCKS By Melissa Tan melissat@sph.com.sg @MelissaTanBT SOME market watchers have started to bandy about predictions as wild as the Straits Times Index (STI) hitting
      Source: Bloomberg  -  622 words
    • Article
      Lock icon STI STOCKS
      303 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 216 -8 221/216 271 209 6.8 5673.7 CapitaLand 297 -12 307/296 379 267 10.9 3 *****.5 CapitaMall Trust 195 -1 196/194 228 184.5 5.6 6776.8 CityDev 693 -35 724/691 1095 691 8.3
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 8 STI FTSE ST All-Share FTSE ST All-Share index Jan 20,2016 632.44 -17.30 (-2.66%) Current streak 1 day Day high 645.38 Day low 632.38 52-week high 847.98 (Apr 15, 2015) 52-week low 632.44 (Jan 20, 2016)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE Index Jan 19,2016 1,565.21 +17.34 (+1.12%) Current streak 1 day Day high 1,572.70 Day low 1,544.44 52-week high 1,949.49 (May 15, 2015) 52-week low 1,547.87 (Jan 18, 2016)
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    • Article
      Lock icon MOST ACTIVE
      35 8 VOLUME Ezra 98,745,400 Noble 53,666,500 CSC W*****9 52,135,000 ChinaSports 48,410,000 Jiutian Chemical 27,334,800 Market volume 1,284,863,000 VALUE DBS Grp 135,957,043 Singtel 92,692,801 OCBC Bank 78,226,443 CapitaLand 68,419,919 Keppel Corp 67,714,868 Market value 1,215,476,000
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Jan 20 VALUE CLOSE BT OB/OS -1167.00 -138.00 BT CADI -*****.00 -253.00 BT 10-day MA -*****.00 -116.00 FTSE ST Mid Cap 624.21 -13.64 FTSE ST Small Cap 374.99 -8.80 FTSE ST All Share 632.44 -17.30 FTSE ST China Top 151.54 -6.27 FTSE ST China 183.97 -6.42 FTSE
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 0 12 4 0 1 0 0 13 4 Manufacturing 16 63 21 5 9 9 21 72 30 Commerce 7 35 10 3 4 6 10 39 16 Tpt/Stor/Comms 4 23 8
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    • Article
      Lock icon SGX ETFs
      110 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 262 -9 2010 268/262 355/262 262/263 IS MS INDIA US$ US605 -20 482 622/605 1000/605 605/610 75.6 Lyxor World US$ US149.3 -3.8 259 151.2/149.3 183.5/149.3 147.6/148.6 14.9 DBXT MSBrazil US$ US193 -9 131 199/193
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      122 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 45,985 2,373 48,358 120,196 430 120,626 Manufacturing 198,984 34,428 233,412 103,766 2,563 106,329 Commerce 77,760 31,075 108,835 128,979 984 129,964 Tpt/Stor/Comms 209,741 166 209,907 189,030 12 189,043 Finance 28,547 2 28,549 287,972 287,972 Construction 14,905
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    • BROKERS’ TAKE
      • Article
        Lock icon Singapore offshore & marine | Negative
        222 8 Singapore offshore marine Negative Maybank Kim Eng, Jan 19 SETE Brasil’s potential bankruptcy and oil’s unending rout have brewed extreme pessimism on Singapore rigbuilders. We see no respite over the next six months, given: 1) weak rig orders; 2) contract cancellation risks; and 3) potential asset writedowns. Factoring these in,
        222 words
      • Article
        Lock icon Midas Holdings | Hold
        150 8 Midas Holdings Hold Target price: S$0.29 Jan 20 close: S$0.25 OCBC Investment Research, Jan 20 WE recently visited Midas Holdings’ plants in Jilin and Nanjing, China. Midas is in the midst of expanding into two new businesses: Jilin Midas Light Aluminium (JMLA), which is currently undergoing trial production phase, is
        150 words
      • Article
        Lock icon Japan Foods | Buy
        229 8  - Japan Foods Buy Compiled by Melissa Tan Target price: S$0.53 Jan 20 close: S$0.41 CIMB, Jan 18 AS at Sept 30, 2015, Japan Foods had zero debt and a cash position of S$17.7 million on its book, forming about 23 per cent of its market cap. The strong cash position
        229 words
    • Article
      Lock icon Yen jumps to year high as A$ tumbles in commodities rout
      428 9 CURRENCIES BLOOMBERG Tokyo THE yen advanced to its strongest level in a year as a global selloff in equities and commodities deepened, spurring demand for haven assets. Japan’s currency, which has appreciated more than 2 per cent versus all
      BLOOMBERG  -  428 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Jan 20 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.005 4.516 0.627 5.367 46.706 95.516 0.801 8.334 3.002 1.079 71.996 32.860 0.987 11.557 0.687 23.122 24.892 0.485 0.686 Canada 0.995 4.493
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 9 Jan 20 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 0.9871 0.9875 0.6862 0.6864 Canadian dollar 0.9822 0.9827 0.6830 0.6828 Euro 1.5743 1.5749 1.0944 1.0947 NZ dollar 0.9145 0.9152 0.6357 0.6361 Sterling pound 2.0371 2.0378 1.4161 1.4164
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Jan 20 S$ Bid Offer 1-month 1.4396 1.4400 2-months 1.4409 1.4413 3-months 1.4422 1.4425 6-months 1.4454 1.4458 Source: OCBC
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      • Article, Illustration
        Lock icon HANG SENG
        2 9
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        Lock icon SHANGHAI COMPOSITE
        2 9
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        Lock icon NIKKEI
        1 9
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      • Article, Illustration
        Lock icon DOW JONES
        2 9
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        392 9 Jan 20 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Jan16 9480.00 9505.00 9107.50 9180.00 *****0 *****3 Feb16 9352.50 9365.00 8980.00 9040.00 ***** ***** NIKKEI 225 INDEX FUTURES Mar16 *****.00 *****.00 *****.00 *****.00 *****2 *****7 Jun16 *****.00 *****.00 *****.00 *****.00 292 3608 MSCI TAIWAN
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        209 9 Most active Jan 20 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left CSC Holdings W*****9 0.5 0.1 ***** 1 1 15 2.60 59 FTSEChinaA50 ***** MBeCW*****8 8.7 -0.2 ***** 0.0 3 DBS MB eCW*****1 10.7 -2 ***** 0.1 1480
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        377 9 In local curr In S$ In US$ dy yr dy yr dy yr Jan 19 Index Change Change Change Change Change Change World Preliminary 1178.5 1.0 -7.8 0.7 -7.0 0.9 -8.1 EAFE Preliminary 930.3 1.2 -8.2 0.9 -7.7 1.1 -8.8 Europe Preliminary 1305.8 1.6 -7.6
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 Jan 20 $S Offer Bid 0vernight 0.10 Par 1-month 1.125 1.000 2-months 1.1875 1.0625 3-months 1.2500 1.1250 Overnight mode: N.A. US$ Offer Bid 7 days 0.45 0.35 1 month 0.48 0.38 2 months 0.65 0.45 3 months 0.75 0.55 6 months 1.00 0.80 9 months 1.20 1.00 12
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      • Article
        Lock icon GOVERNMENT SECURITIES
        69 9 Jan 20 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0F 1.375 01-Oct-17 100.4 100.45 100.40 5-Year N*****0S 2.000 01-Jul-20 100.57 100.90 100.65 10-Year NX*****Z 2.375 01-Jun-25 99.93 100.30 100.05 15-Year NZ*****F 2.875 01-Sep-30 102 102.40 102.00 20-Year NZ*****V 3.375 01-Sep-33 108.93
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 9 Jan-19 Price Net change change Last Trade Agricultural Jan-19 CBOT Soybeans (US cents/bu) 883.50 4.50 0.51% 14/03/2016 CBOT Soybean Oil (US cents/lb) 30.03 0.38 1.28% 14/03/2016 CBOT Wheat (US cents/bu) 474.50 0.75 0.16% 14/03/2016 Jan-19 LIFFE Cocoa (£/tonne) 2144.00 30.00 1.42% 14/03/2016 LIFFE Coffee (US$/tonne) 1364.00 -8.00 -0.58%
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    • Article
      Lock icon SGX MAINBOARD
      1616 10 Transaction date: Jan 20 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Last Vol Day Div GrYld 153 128.5 AIMSAMP Cap Reit 129.5 -1 306 130.5 128.5 1 8.5 821.9 MCap 175.5 106 ARA Asset Mgmt 106 -1
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    • Article
      Lock icon SGX CATALIST
      255 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Company Last Sale Vol ('000) High Day Low Div C'vr GrYld Net P/E MCap 35 10 t 3Cnergy 10.1 29.5 16.7 t CNMC Goldmine 18.4 +0.1 1348 18.5 16.7 5.9 2.9
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    • Article
      Lock icon SGX ETF
      112 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale 1440 991 CIMBASEAN40 S$D 1063 +2 0 1063 1061 vol 4258 2498 DBXT China50 US$ US2530 -2 4 2548 2530 7 409 193 DBXT MSBrazil US$ US193 -9
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      Lock icon Page 5 Advertisements Column 1
      235 5 AccountServe A Stone Forest Company Need Help With Tax Forms and Filing Deadlines? We Help Individuals, Expats and Small Businesses With Their Tax Matters: Income tax returns and tax computations for individuals and partnerships Returns of employees rom.inerano t {Tonr R8A! and tax clearance (IR21) Corporate income tax computation and
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      Lock icon Page 7 Advertisements Column 1
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  • Page 10 Advertisements
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      Lock icon Page 10 Advertisements Column 1
      80 10 SGX== SGX My Gateway Stay informed about Singapore's stock market with regular market updates, research reports and corporate actions. Sign up on sgx.com/mygateway now. Singapore Exchange 9 This advertisement has been published for general circulation only. It is not an offer or solicitation to buy or sell, nor financial advice
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  • REAL ESTATE
    • Article
      Lock icon Iskandar needs catalysts to grow: consultant
      542 11  -  Authorities need to make it more efficient for people to get to the economic zone and to move around By Pauline Ng btworld@sph.com.sg Kuala Lumpur TO SUSTAIN growth amid the current property downturn, Iskandar Malaysia needs catalysts including better infrastructure that could act as
      542 words
    • Article
      Lock icon French hotels estimated to have lost 270m euros from Paris attacks
      256 11 REUTERS Paris THE deadly attacks in Paris in November have cost French hoteliers an estimated 270 million euros (S$424 million) in lost revenue and could continue to have an impact on hotel occupancy rates, research firm MKG Group said
      REUTERS  -  256 words
    • Article
      Lock icon 2015's SUPERLATIVES
      2056 12  -  An improvement in private home transactions in 2015 compared to a year ago arguably suggests that buyers and sellers have come to terms with the government's cooling measures. While private home prices remained on the slide with a further 3.7 per cent decline in 2015 after a 4
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      Lock icon HK may cut downpayments for homes if prices keep falling: BOA
      456 13 Prices seen falling 30% this year as home supply rises and speculative pressure on HK$ lifts interest rates BLOOMBERG Hong Kong HONG Kong’s central bank will probably relax restrictions on downpayments for homebuyers this year should prices continue to
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    • Article
      Lock icon Warehouse operator WHA plans Thai Reit
      483 13 BLOOMBERG Bangkok WHA Corp, Thailand’s biggest publicly traded warehouse operator, plans to sell units in a real estate investment trust after its acquisition of the nation’s biggest industrial developer last year caused debt and funding costs to surge. WHA wants to raise at least
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      Lock icon Househunt
      1219 13 Property transactions for districts 1 to 28 with contract dates between Dec 9 and Dec 15,2015 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED The Clift Apt 11/12/2015 99 764 1800 2355 The Sail Marina Bay Apt 11/12/2015
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      322 11 The Impact of High-Speed Rail on PropNex International Kuala Lumpur City Centre Property Date: 24th Jan 2016 Sunday Seminar Time: 2:30pm Venue: Four Seasons Hotel Singapore, 1 90 Orchard Boulevard Singapore *****6 Room: Grange Room, Level 6 Call now to RSVP: 9889 7777 RayTeo CEA Reg No. R0101 98F A
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      49 13 3? eS sion of lnte. rest closing 2016 Jan 4pm Warehouse for Sale Tuas Techpark Floor Area: 60,000 sqft approx.. Land Area: 85,000 sqft approx. •38 years lease remaining Business 2 Zoning Excellent Building Specifications Delia Yeo 9228 9010 CEA: R*****2E Donald Goh ©9690 9541 lo unasuB CEA: R*****5B
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      47 13 Unique Conservation Shophouse CBD AREA FULL COMMERCIAL NO ABSD nw t Rare Freehold Shophouse Keong Saik Area Land: 1,317 sqft Built-in: 2,810 sqft est F&B Ready Chic dining enclave 2 mins walkto MRT Ideal for own use/ investment •Agents welcome For Sale by Owner (Eugene) 9753 2056
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      80 13 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 W: www.smats.net E: smats@smats.net T:
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  • BANKING & FINANCE
    • Article
      Lock icon SMEs see lack of regional banking facilities: survey
      699 14  -  Banks with extensive product suites may not expect smaller SMEs to regionalise and see no point in making the full suite of services known to them By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore BANKS need to work harder to dispel the perception held
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      Lock icon For HSBC investors, its HQ debate is eclipsed by identity issue
      943 14 REUTERS London AS HSBC prepares to decide which country it should call home, a growing number of its investors want the bank to address a bigger question: What does it really want to be? HSBC’s board is due to
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      Lock icon Oil rout: worse pain lies ahead for US banks
      720 14 NYT New York LOW oil prices are rattling global markets and destabilising economies around the world. They are also posing one of the first big tests to the US banking system since the financial crisis. Banks of all sizes are marking
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      Lock icon Asia Islamic bonds find new life in 2016 after worst year in five
      519 14 BLOOMBERG Kuala Lumpur ASIAN issuers are leading a promising start to the year for global Islamic bonds after the poorest annual showing since 2010. Malaysia’s sovereign wealth fund Khazanah Nasional Bhd started investor meetings in the Middle
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      33 14 ONE MAN’S JOURNEY Singapore Sikh in search of community’s heritage in Pakistan TOP THINKER ANIL GUPTA BETS ON INDIA GET YOUR COPY TOMORROW TO ADVERTISE: CALL SHAN (*****861) KALWANT (*****327) OR NISHAL (*****438)
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      70 14 Amother’s devotion There was a lot of pain in my heart but he is my son. I refused to give up; I knew he would one day come back to me. Madam Goh Lay Hong, 86, on her former drug addict son Chua Soon Poh. Curl up with It Changed
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  • ENERGY & COMMODITIES
    • Article
      Lock icon CNOOC succumbs to crude rout in first output cut since ’99
      794 15 It will produce 470m to 485m barrels of oil equivalent this year, down from 495m in ’15 BLOOMBERG Hong Kong CHINA’S largest offshore oil company will cut output for the first time in more than a decade, prompting speculation
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      Lock icon BHP cuts full-year iron forecast after deadly Brazil spill
      842 15 BLOOMBERG Melbourne BHP Billiton Ltd, the world’s biggest mining company, trimmed its full-year iron ore forecast after its Brazil joint venture was halted following a dam breach in November that killed at least 17 people. The shares fell to the lowest
      BLOOMBERG; PHOTO: AFP  -  842 words
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      1822 15 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices THE MONETARY AUTHORITY OF SINGAPORE APPLICATION FOR TAXABLE BOOK-ENTRY SINGAPORE GOVERNMENT BONDS Approximately 5 Years SGD 2,100,000,000 SGD 1,000 SGD 300,000,000 NX*****X (Reopened) SG7Y*****295 01 February 2016 01 June 2021 2.250% p.a. To be determined at the auction 01 December and
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  • TECHNOLOGY
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      Lock icon S Korea rules the world in 2016 Bloomberg Innovation Index
      779 16 The country notches top scores worldwide for manufacturing value-added and tertiary efficiency BLOOMBERG Seoul IN THE world of ideas, South Korea is king. Germany, Sweden, Japan and Switzerland rounded out the top five in the 2016 Bloomberg Innovation Index, which
      BLOOMBERG; PHOTO: REUTERS  -  779 words
    • Article
      Lock icon Symantec to get US$1b less in cash for sale of Veritas
      410 16 REUTERS New York ANTIVIRUS software maker Symantec Corp said on Tuesday that it will receive US$1 billion less in cash for its data storage unit Veritas from Carlyle Group LP, cutting the price of the biggest leveraged buyout of
      REUTERS  -  410 words
    • Article
      Lock icon Wave of investments in China Web startups seen slowing
      595 16 NYT Hong Kong CHINA’S Internet companies, in recent years, have been the shining stars of growth, with Alibaba and Tencent rivalling in size some of their most formidable global competitors. Inspired by their success and driven by huge buyouts of smaller
      NYT  -  595 words
    • Article
      Lock icon India startup fund may not be enough as investors hold back
      363 16 REUTERS Mumbai AFTER pumping billions of dollars into Indian Internet startups in the last 24 months, global investors are cutting that flood back a trickle as dreams of huge online sales are clouded by soaring valuations and still-dis-tant profits.
      REUTERS  -  363 words
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      Lock icon Apple makes slight progress in racial, gender diversity
      457 16 WP San Francisco NEW statistics from Apple show that the tech giant has made progress towards increasing its workforce’s racial and gender diversity but only by a hair. On Apple’s website, the company said that 11 per cent of its new US
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      201 16 New Year Special! First 20 Sign-up will get a FREE Wireless Mouse! How will the Fed’s rate hike impact the Market Outlook in 2016? What are the potential opportunities in stocks from a Fundamental Perspective? Attend and learn how to position yourselves as traders or investors in the current global
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  • CONSUMER
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      Lock icon Netflix faces a US slowdown as it chases global growth
      672 17 It adds a record 5.59 million streaming members globally in Q4 while profit slid 48% to US$43.2 million NYT New York THE fourth-quarter results from Netflix paint two different pictures of the company: one achieving record global growth, the other
      NYT  -  672 words
    • Article
      Lock icon China’s hunger for baby formula feeds an underground market in Australia
      642 17 WP Sydney DESPITE fully stocked shelves of baby formula made by Procter Gamble, Nestle, Danone and others, supermarkets in the Coles chain sell only two cans to each customer at a time. The rule is designed to frustrate a
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      Lock icon Japan’s ‘Tuna King’ laments Tsukiji fish market move
      600 17 AFP Tokyo KIYOSHI Kimura’s ear-to-ear grin is tough to miss in Japan it’s splashed across ubiquitous billboards advertising his nationwide sushi chain. But the self-styled “Tuna King” isn’t smiling about plans to move Tokyo’s famous Tsukiji market, the world’s biggest fish-emporium, and
      AFP; PHOTO: AFP  -  600 words
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      Lock icon Luxury watchmakers rethink affordability to counter downturn
      584 17 REUTERS Geneva HIGH-END watchmakers have signalled a shift in strategy with an expanded range of more affordable products to counter the most severe downturn the industry has faced since the 2008-2009 global financial crisis, executives at a watch fair in Geneva said. The
      REUTERS; PHOTO: REUTERS  -  584 words
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      284 17 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF CONCISE HI-TECH (S) PTE. LTD. (In Liquidation) Reg. No. *****1932N COMPANIES WINDING UP NO. 40 OF 2014 NOTICE OF CREDITORS' MEETING NOTICE IS HEREBY GIVEN that a meeting of the creditors in the above matter
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      414 17 IN THE MATTER OF THE COMPANIES ACT CAP. 50 AND IN THE MATTER OF BELDEN ELECTRONICS (S) PTE LTD (Registration No. *****6483C) (In Members’ Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap. 50, that the FINAL MEETING of
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  • TRANSPORT
    • Article
      Lock icon Japanese, Korean makes win race for sales growth
      607 18  -  Number of new cars doubled last year, but Japanese and Korean makes more than doubled their market share By Samuel Ee samuelee@sph.com.sg Singapore THE number of new cars doubled in 2015, but only the Japanese and Korean makes were able to increase
      607 words
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      Lock icon SIA to launch flight linking Canberra and Wellington
      346 18  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore SINGAPORE Airlines (SIA) will operate flights to both the Australian and New Zealand capitals from September, making it the first airline with flights linking the two cities. SIA will operate a Singapore-Can-berra-Wellington routing (subject to the
      346 words
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      Lock icon Fiat Chrysler Automobiles has a different US emissions problem
      880 18 BLOOMBERG Chicago LOST amid the intense scrutiny of emissions tests at Volkswagen AG and Renault SA is the fact that another European automotive powerhouse, Fiat Chrysler Automobiles NV, is also in a tight spot with regulators. Not for possible cheating. Far
      BLOOMBERG; PHOTO: BLOOMBERG  -  880 words
    • Article
      Lock icon Insurer caution to slow oil tanker market’s return to Iran
      650 18 REUTERS London FOREIGN oil tanker owners are expected to make a slow return to Iran despite the lifting of many sanctions as insurers tread carefully, leaving shipping players unwilling to pick up cargoes as quickly as Teheran has wanted. A
      REUTERS  -  650 words
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      27 18 THENO.1GUY’SGUIDETO A BETTER FEBRUARY From eating well and prospering to truly impressing your girl on Valentine’s Day, the Men’s Health February issue has you covered. GETYOURCOPYNOW! MENSHEALTH.COM.SG
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      19 18 Lunar New Year Online shopping Recipes Fashion tips Events calendar Check them out now! Scan QR or visit cny.zaobao.com
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      367 19 JAN 29 FEB 21 NATIONAL MUSEUM OF SINGAPORE, X:2:X K CV< @C5:W:V4 KR 54CW8U6< 6UC< 10AM 7PM DAILY GUIDED TOUR: :2:6/ 5C436<C/ CV< 53V<C/R KKCW CV< ITW ‘X$c$?-H ?G IM F-GFd-N B-BB$GaS ADMISSION: FREE CAPTURING IMAGINATIONS CHANGING LIVES 4&-1GDdH TD-BB T&G?G IMK) -7&$L$?$GaR &N$d-H NB ?&-UBJNDB G* F&G?G#G=DaNd$BcR J-d-LDN?-B ?&-cGB?
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  • GOVERNMENT & ECONOMY
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      Lock icon Consumer prices fall on lower energy prices
      697 20 Housing starts and permits also decline in December, adding to weak data that have raised concerns over the health of the economy LATEST US DATA REUTERS Washington US CONSUMER prices unexpectedly fell in December as the cost of energy goods dropped and services
      REUTERS  -  697 words
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      Lock icon Japan rides huge, income-boosting tourism boom with a weak yen
      646 20  -  By Anthony Rowley btworld@sph.com.sg Tokyo THE number of tourists and other foreign visitors to Japan leapt dramatically last year, as did their total spending in the country, putting tourism on a par with motor-vehicle parts exports in terms of its
      PHOTO: AFP  -  646 words
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      Lock icon Financial sector remains China’s growth driver
      342 20 BLOOMBERG Beijing THE financial sector continued to fuel China’s economic growth last quarter, cushioning a broader slowdown while also raising doubts over the sustainability of that boost amid renewed stock market weakness. Financial services jumped 12.9 per cent in the three months through December
      BLOOMBERG  -  342 words
    • Article
      Lock icon Spillover effects of China slowdown will have global impact, warn analysts
      681 20 AFP Paris SLOWING growth in the Chinese economy carries major risks for emerging markets, and a drop in global trade could harm Europe and the United States as well, analysts warn. Hours after Chinese authorities reported on Tuesday that
      AFP  -  681 words
    • Article
      Lock icon Singapore furthers IP cooperation with Cambodia
      241 20  -  By Grace So graceso@sph.com.sg Singapore THE Intellectual Property Office of Singapore (IPOS) has begun issuing reports assessing the merit behind patent applications filed in Cambodia, giving businesses and entrepreneurs faster access to a combined market of 20 million people. These reports written by patent
      241 words
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  • INVESTMENT ROUNDTABLE
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      Lock icon Positive outlook for emerging markets
      2888 21 The economies of the so-called BRICs are reeling from the upheavals of the commodities market, but there is hope yet, analysts say Roundtable panellists IMark Mobius, Executive Chairman,Templeton Emerging Markets Group IHung Tran, Executive Managing Director, institute of international Finance (IIF) IKenneth Courtis, Chairman, Starfort
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  • OPINION
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      Lock icon Despite low valuations, EM investors should tread cautiously
      587 22 EDITORIAL THERE appears to be no respite to the malaise weighing down global emerging market (EM) equities. The region as an asset class has underperformed developed markets for five years by now and the carnage in the first few weeks of January
      587 words
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      Lock icon Design-led innovation in the public sector
      1395 22  -  It’s now a feel-good place of concierges and cuddly toys, with a chillout vibe and much more. elcome to the innovation-driven government agency.BY MANUEL SOSA agency.BY MANUEL SOSA T The writer is an associate professor of technology and operations management at insead. Follow him
      PHOTO: RUDY WONG/THE STRAITS TIMES  -  1,395 words
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      Lock icon Light in the multicurrency tunnel
      663 22  -  THE BOTTOM LINE By David Marsh T The writer is managing director at the Official Monetary and Financial institutions Forum OMFIF Berlin THE prospect of Britain leaving the European Union has been a background influence adding to the New Year factors disturbing financial markets. None
      OMFIF  -  663 words
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      Lock icon S’pore’s tax revenue collection: which way forward?
      990 23  -  COMMENTARY By Teh Swee Thiam, Chew Boon Choo T The writers are tax services partner and director, indirect tax GST at Ernst Young Solutions LLP respectively. The article reflects the writers’ views only AMID an uncertain global economic environment, the Singapore public and
      990 words
    • Article
      Lock icon SingPost should not have picked PwC as special auditor
      741 23  -  LETTER TO THE EDITOR Mak Yuen Teen I REFER to the announcement by Singapore Post (SingPost) on Jan 19, providing an update on the special audit and corporate governance review. While I have no reason to doubt the professionalism of PricewaterhouseCoopers
      741 words
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      Lock icon Iran nuclear deal: enraged Saudis whip up tensions
      1380 23  -  Washington must counsel Riyadh against rash actions. Failure to do so could lead to a regional catastrophe. BY MOHAMMED AYOOB BY MOHAMMED AYOOB T The writer is university distinguished professor emeritus of international relations, Michigan State University, and author most recently of
      YALEGLOBAL ONLINE; PHOTO: REUTERS  -  1,380 words
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      978 24 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 APL Columbus
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  • LIFE & CULTURE
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      Lock icon Glass ceilings on agenda of World Economic Forum
      1022 25 This year, forum leaders will tackle the problem of gender inequality head-on, joined by industry groups and the UN NYT Davos AS a top executive in the financial industry, Theresa Whitmarsh is accustomed to being the only woman in the room. That
      NYT; PHOTO: NYT  -  1,022 words
    • Article
      Lock icon Sotheby’s to jam May New York sales into one week to spur buzz
      341 25 BLOOMBERG New York SOTHEBY’S plans to jam its big semiannual New York sales into one week in May, shaking up its traditional auction schedule amid volatile financial markets and heated competition with rival Christie’s.pp For years, the
      BLOOMBERG  -  341 words
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      Lock icon Not a hoax: Univision buys stake in ‘Onion’
      392 25 AFP New York AIMING to use humour to boost its audience, US broadcasting group Univision said on Tuesday that it was acquiring a stake in the satirical news group The Onion. The New York-based Univision, which aims to reach Hispanic Americans, said
      AFP; PHOTO: NYT  -  392 words
    • Article
      Lock icon Eiffel Tower sees fewer visitors after Paris attacks
      565 25 REUTERS AFP Paris THE Eiffel Tower, one of the world’s top tourist draws, saw visitor numbers drop after the devastating terror attack on the French capital last November. The Iron Lady of Paris received 6.91 million visitors in 2015 compared with 7.1
      REUTERS; AFP  -  565 words
  • Page 25 Miscellaneous
    • Miscellaneous
      Lock icon Page 25 Miscellaneous Column 1
      316 25 CRYPTIC CROSSWORD Across 1 Ladybird originally found in cigar-shaped plant (6) 5 Funds set aside for wife most cunning (3,5) 9 Businessman first to follow river Test (13) 10 A match official in Wellington? Definitely not! (8) 11 Nosey creatures exploit the American tax authorities (6) 12 Friendly spirit mainly
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