The Business Times, 23 February 2016

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Total Pages: 24
1 24 The Business Times
  • 22 1 THE BUSINESS TIMES S$1.00 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BusinessTimes CO REGN NO *****2868E MCI (P) 039/08/2015 Tuesday, February 23, 2016
    22 words
  • 26 1 Monday Change STI 2,660.65 +3.78 KL Comp 1,674.59 -0.29 Nikkei 225 16,111.05 +143.88 Hang Seng 19,464.09 +178.59 Shenzhen B 1,179.43 +13.76 Dow(10.45 EST) 16,595.63 +203.64
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  • Article, Illustration
    224 1 The Chicago Mercantile Exchange launches a new Japanese liquefied natural gas futures contract, taking the battle to establish the first Asian LNG pricing benchmark up a notch. TOP STORIES 2 investors are exposed or “highly involved” in the bonds of troubled 1 Malaysia Development Berhad despite the “many
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  • 1542 1  -  Dividends and DPUs expected to continue growing, although in smaller single digits By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore INVESTORS will be relieved that despite challenging economic conditions, Singapore as a dividend play story remains intact. Out of the 53 companies and 21 Reits/business trusts
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  • 1047 1  -  Oil is the key stress, but banks have actively sold collateral and restructured loans; NPLs unlikely to hit crisis levels By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore DBS chief executive Piyush Gupta, has dismissed the idea that the banks are in another Lehman
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  • Page 1 Advertisements
    • 58 1 81 *****4" DATA PRIVACY Apple wants specialists’ panel on encryption issues TECHNOLOGY 16 THE INTERNET OF THINGS Singtel to trial 5G tech with Ericsson TOP STORIES 6 OYSTER PERPETUAL MILGAUSS m ROLEX EMPEROR WATCH AND JEWELLERY THE SHOPPING GALLERY AT THE HILTON, #01-03/04. TEL: 6737 2896 WISMA ATRIA, #02-40/41-44, TEL:
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    • 15 1 BT REACHES OUT BT staff, RI students bring festive cheer to elderly TOP STORIES 6
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    • 14 1 DBS beats expectations with 20% rise in Q4 profit to S$1 billion, Page 7
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  • TOP STORIES
    • 626 2  -  With SGX having launched its LNG derivatives contract recently, the two exchanges are battling for market share By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore THE Chicago Mercantile Exchange (CME) on Monday launched a new Japanese liquefied natural gas (LNG) futures contract, taking the battle to establish
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    • 798 2 CHINA MARKET SHAKE-UP BLOOMBERG Hong Kong THE new head of China’s securities regulator has been tasked with restoring confidence after policy missteps by his predecessor rattled investors and helped deepen a US$5 trillion rout. Liu Shiyu is assuming oversight of the world’s
      BLOOMBERG  -  798 words
    • 393 2  -  fcfI REUTERS BREAKINGVIEWS By Rachel Morarjee Beijing THE job of running China’s securities watchdog is known by the country’s media as “the volcano seat” for its potential to blow formerly glittering careers to smithereens. Xiao Gang is its latest victim. The chairman of
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    • 806 4  -  BOJ chief acknowledges criticism of controversial policy but also highlights its benefits By Anthony Rowley btworld@sph.com.sg Tokyo BANK of Japan (BOJ) governor Haruhiko Kuroda was back “in the dock” on Monday when he was again summoned to appear before a parliamentary committee
      PHOTO: REUTERS  -  806 words
    • 878 4 BLOOMBERG Beijing CHINA’S ratio of debt to its economic size is seen climbing for at least another four years, underscoring the risks facing policy makers as they strive to prevent a deeper slowdown without triggering a credit blowout. Seven
      BLOOMBERG; PHOTO: REUTERS  -  878 words
    • 676 4 Bank’s full year pre-tax profit of US$18.9b misses analysts’ forecast of US$21.8b AFP Hong Kong GLOBAL banking giant HSBC on Monday reported a shock pre-tax loss for the last quarter of 2015 with results for the year missing analysts’
      AFP; PHOTO: BLOOMBERG  -  676 words
    • 207 4 Hong Kong HSBC Holdings plc, Europe’s biggest bank, said on Monday that it is among financial institutions being investigated by the US Securities and Exchange Commission (SEC) in relation to its hiring practices in the Asia-Pacific. The probe is linked to the hiring
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    • 406 6  -  It’ll help to ready Singapore for the Internet of Things By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore SINGAPORE Telecommunications (Singtel) has signed a partnership with Ericsson to test a new technology that will be a key component of its fifth-generation (5G) mobile network.
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    • 670 6  -  By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore INVESTORS are exposed or “highly involved” in the bonds of troubled 1 Malaysia Development Berhad despite the “many headlines and noise” surrounding the company and its management as well as macro factors such as the
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    • 562 6  -  GIVING BACK By Vivien Shiao Shufen vshiao@sph.com.sg @VivienShiaoBT Singapore ABOUT 20 journalists from The Business Times, joined by students from Raffles Institution (RI) and volunteers from Engaging Hearts, spent last Saturday morning bringing Chinese New Year cheer to 200
      PHOTOS: LYNETTE LIM, VIVIEN ANG  -  562 words
    • 398 6  - Cogent opens world’s first integrated logistics hub with an act of charity By Grace So graceso@sph.com.sg Singapore COGENT Holdings officially opened its new logistics hub in Singapore with a S$ 168,888.88 “hongbao” donation to charity. The donation was presented to The Straits Times School Pocket Money Fund and The Business
      PHOTO: LIM YAOHUI/ THE STRAITS TIMES  -  398 words
  • Page 2 Advertisements
    • 103 2 “Build to Last” Secret for Business Leaders Revealed by World Renowned University Since 1209 Course Preview Date: 25 Feb 2016 Time: 2:30pm Address: 1 Sims Lane #05-03 Singapore *****5 CAMBRIDGE CAMP: APPLICATION OF STRATEGY 20-27 March 2016 Cambridge University UK 6 Practical Modules 2 Corporate Visits 主讲人李
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  • Page 3 Advertisements
    • 344 3 BANGKOK S$1,158 Bengaluru S$2,428 Hanoi S$1,658 TOKYO S$3,148 Seoul S$3,378 SYDNEY S$4,148 Male (Maldives) S$2,518 Christchurch S$5,238 SANFRANCISCO S$6,838 Milan S$5,668 Brisbane S$3,908 Hong Kong S$1,718 Istanbul S$4,818 Barcelona S$5,848 Perth S$3,108 Paris S$6,008 Amsterdam S$6,068 New York S$8,168 Manila S$1,828 ENJOY EXCEPTIONAL BUSINESS CLASS FARES FROM SINGAPORE AIRLINES WITH
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  • COMPANIES & MARKETS
    • 797 7  -  Rise comes on the back of higher margins for loans and broad-based non-interest income B y Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore DBS Group reported better-than-ex-pected fourth-quarter net profit of S$1 billion, up 20 per cent on higher
      PHOTO: REUTERS  -  797 words
    • 408 7  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore A DROP in fair-value gains from its investment properties and expenses from a new hotel caused real estate developer Amara Holdings to report a 59 per cent plunge in net profit to S$ 14.33 million for FY15. During the
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    • 415 7  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore YEO Hiap Seng’s fourth-quarter net profit rose 7.4 per cent even as revenue dipped, bolstered by higher fair-value gains on investment properties. The food and beverage (F&B) company which reported its results on Monday after the market
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    • CORPORATE DIGEST
      • 88 7 SWEE HONG Limited’s managing director and CEO Ong Hock Leong has stepped down from his roles after his lawyers informed the group of a bankruptcy order against him on Feb 18. Consequently, his office as a director of the company is vacated in accordance with the company’s
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      • 103 7 VARD Holdings said on Monday that it has secured a new contract, valued at 325 million Norwegian kroner (S$53.4 million), for the design and construction of a stern trawler for Havfisk ASA, Norway’s largest trawler company. The 80 m long trawler, said to be the first of its
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      • 93 7 OTTO Marine said on Monday that it has secured three new shipbuilding contracts for one product oil tanker and two ferries worth a total of US$23 million. The order for the product oil tanker was placed by a local Indonesian firm, while the orders for the ferries were
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      • 87 7 THE manager of Frasers Commercial Trust (FCOT) has signed a deal to keep Alexandra Technopark, 55 Market Street and China Square Central managed by Frasers Centrepoint Limited, via a subsidiary, after an existing agreement expires. The agreement appoints Frasers Centrepoint Property Management Services to operate, maintain, manage
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    • 1188 8  -  HOCK LOCK SIEW BY LEE MEIXIAN leemx@sph.com.sg @LeeMeixianBT THE bids are in for Ascendas Hospitality Trust (A-HTrust). The Business Times understands there are four bids from Blackstone, Gaw Capital, a joint one from Varde Partners and Westmont Hospitality, and a fourth bid which
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    • 684 8  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore MAINBOARD-listed Raffles Medical Group, which has proposed to split its share in the ratio of one to three, on Monday posted a 2.4 per cent rise in full-year net profit to S$69.3 million. Excluding the fair-value
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    • 639 8  -  By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore PROPERTY and hotel group Roxy-Pa-cific Holdings posted drops in fourth-quarter and full-year net earnings due partly to the absence of profit recognition from the sale of strata retail floors at 8 Russell Street in Hong
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    • 490 9  - Petra Q4 profit drops 93.5%; plans 9.82 US a share payout It attributes “disappointing” performance to slowdown of Indonesian economy, rupiah’s weakness By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore PETRA Foods’ fourth-quarter net profit fell 93.5 per cent to US$800,000 amid a weaker Indonesian economy, but the company is planning a
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    • 346 9  -  By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore CITIC Envirotech’s net profit attributable to shareholders fell 21.2 per cent to S$40.8 million in the nine months ended December 2015 amid a decline in its engineering business, the absence of
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    • 588 9 IFR Hong Kong UNITED Overseas Bank is following peer DBS into the covered bond market and, in the process, is about to become the first lender in Asia ex-Aus-tralasia to issue the instrument in euros. The notes, which are expected to price
      IFR  -  588 words
    • 290 9  - Dyna-Mac joins billion-dollar club for a few hours By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore THE universe can be a mean place with an occasional joke that is simply too cruel. For a few hours on Monday, loss-making Dyna-Mac Holdings was a S$20 billion heavyweight instead of a S$130 million small-cap.
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    • 530 9 BLOOMBERG Hong Kong EQUITY strategists and fund managers see more upside than downside for Hong Kong stocks as 94 companies prepare to report annual results this week. “Expectations are really, really low at the moment,” said Joshua Crabb, head
      BLOOMBERG  -  530 words
    • Article, Illustration
      63 10 STI Catalist straits Times index Feb 22,2016 2,660.65 +3.78 (+0.14%) Current streak 1 day Day high 2,669.38 Day low 2,652.92 52-week high 3,539.95 (Apr 15, 2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist index Feb 22,2016 440.80 +5.34 (+1.23%) Current streak 3 days Day high 442.74 Day low
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    • 60 10 BY CENTS CLOSE UP 52w high/low SPDR S&P500 US$ ***** 519.0 2.0 *****/***** DBXT iBoxxSvEu US$ ***** 367.5 1.0 *****/***** Lyxor ThaiSET US$ ***** 171.1 1.2 *****/9646 JSH USD 2978 123.5 3.0 3590/2524 BY PERCENTAGE CLOSE UP 52w high/low Infinio 0.3 200.0 0.2 0.7/0.1 Blumont 0.2 100.0 0.1 1.6/0.1
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    • 77 10 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -181.0 -1.1 *****/***** Lyxor MS India US$ 1343 -30.9 -1.6 1840/1331 Lyxor Nasdaq US$ 1654 -18.2 -0.8 1865/1557 IS Asia BND US 1038 -14.0 -1.0 1096/1010 Keppel Corp 521 -13.0 -2.4 954/464 BY PERCENTAGE CLOSE DOWN 52w high/low USP Group
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    • 670 10  -  STI rises 3.78 points to 2,660.65 in response to 150-point rise in Dow futures, 0.9 per cent increase in Hang Seng Index STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT TRADING in the local stock market got off to a cautious but firm start
      Source: Bloomberg  -  670 words
    • 309 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 239 +1 240/238 271 209 6.1 6277.9 CapitaLand 293 +6 293/287 379 267 11.7 3.1 *****.5 CapitaMall Trust 212 -1 214/211 228 184.5 5.3 7369.2 CityDev 716 +2 720/708 1095 661 8.6
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    • 37 10 VOLUME Spackman 91,158,000 Jiutian Chemical 61,487,800 QT Vascular 60,347,000 Genting Sing 59,746,700 Ezra 58,772,300 Market volume 1,466,539,000 VALUE DBS Grp 132,448,678 OCBC Bank 71,985,641 JMH USD 66,864,410 Singtel 61,861,082 Global Logistic 52,466,273 Market value 1,072,422,000
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    • 77 10 Feb 22 VALUE CLOSE BT OB/OS 176.00 +49.00 BT CADI -*****.00 +94.00 BT 10-day MA -*****.00 +18.00 FTSE ST Mid Cap 654.59 +3.78 FTSE ST Small Cap 528.62 +152.00 FTSE ST All Share 673.67 +16.54 FTSE ST China Top 155.05 +0.66 FTSE ST China 185.91 +1.11 FTSE
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    • 111 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap Nikko AM STI ETF 273 +1 440 274/272 361/259 272/273 6.6 STI ETF 268 268 269/267 355/254 267/268 DBXT MSRussia US$ US160 -1 83 181/157 235/129 159/160 DBXT MSPAKIS US$ US169.8 -0.6 69 170/169.8 213.8/169.8 168.3/169.1
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    • 35 10 STI FTSE ST All-Share ftse ST All-Share index Feb 22,2016 673.67 +16.54 (+2.52%) Current streak 3 days Day high 673.67 Day low 656.41 52-week high 847.98 (Apr 15, 2015) 52-week low 625.37 (Jan 21, 2016)
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    • 33 10 STI MSCI EAFE MSCI EAFE index Feb 19,2016 1,557.03 -11.68 (-0.74%) Current streak 1 day Day high 1,569.93 Day low 1,549.78 52-week high 1,949.49 (May 15, 2015) 52-week low 1,492.43 (Feb 12, 2016)
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    • 186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 3 7 4 1 0 0 4 7 4 Manufacturing 41 24 26 14 2 9 55 26 35 Commerce 22 10 12 7 1 4 29 11 16 Tpt/Stor/Comms 17 16 3
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    • 122 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 12,537 2,544 15,081 43,638 584 44,222 Manufacturing 232,417 78,640 311,057 103,225 8,303 111,528 Commerce 70,670 28,496 99,166 135,185 975 136,160 Tpt/Stor/Comms 144,551 1,250 145,801 149,394 105 149,500 Finance 63,740 1 63,741 262,014 262,014 Construction 33,594
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    • 81 10 VOL CLOSE($) CHANGE Spackman 91,158.0 0.124 +0.013 +11.71 ISOTeam 120.0 0.315 -0.005 -1.56 Ryobi Kiso 2.0 0.215 +0.026 +13.76 Pollux Prop 0.3 0.050 +0.007 +16.28 SunVic Chemical 1,557.4 0.151 +0.024 +18.90 TIH 34.1 0.495 +0.045 +10.00 China Env 19,878.0 0.059 +0.004 +7.27 USP Group 200.0 0.023 -0.008 -25.81
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    • BROKERS’ TAKE
      • 182 10 PACC Offshore Services Holdings Buy Target price: s$0.42 Feb 22 close: S$0.285 Maybank Kim Eng Research, Feb 22 PACC Offshore Services Holdings (POSH) has the least balance sheet risk among oil services stocks we cover, because: 1) FY15 net gearing is only 0.5 times; 2) It secured US$1 billion of
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      • 134 10 OCBC Investment Research, Feb 22 According to Reuters, Sete Brasil plans to file for bankruptcy protection if Petrobras fails to present a final lease contract proposal in a week’s time. It is understood that Petrobras has asked for seven days to deliver the proposal, and this will be
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      • 191 10  -  Compiled by Jamie Lee CIMB Research, Feb 19 In terms of spectrum for the new entrant spectrum auction (NESA), IDA has maintained 2 x 10Mhz at 900MHz but excluded 2 x 10MHz at 700MHz. Instead, it has raised the amount of spectrum allocated at the 2.3GHz band from
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    • 16 10 DATA IFeb 23 Singapore Consumer Price Index I Feb 23 US S&P/CaseShiller Home Price Index
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    • 428 11 CURRENCIES REUTERS London STERLING sank against the US dollar on Monday as the defection of London Mayor Boris Johnson to the “Brexit” camp added to concerns that a British departure from the European Union is a real risk. After a positive reaction
      REUTERS  -  428 words
    • FOREX RATES
      • Article, Illustration
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      • 471 11 Feb 22 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.987 4.683 0.648 5.582 49.243 96.593 0.811 8.867 3.015 1.077 75.271 34.198 1.008 11.060 0.713 23.875 25.679 0.506 0.718 Canada 1.013 4.743
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      • 2 11
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      • Article, Illustration
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      • 155 11 Feb 22 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0075 1.0083 0.7182 0.7184 Canadian dollar 1.0204 1.0212 0.7276 0.7274 Euro 1.5554 1.5568 1.1088 1.1092 NZ dollar 0.9350 0.9360 0.6665 0.6669 Sterling pound 1.9920 1.9940 1.4200 1.4207
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      • 22 11 Feb 22 S$ Bid Offer 1-month 1.4035 1.4044 2-months 1.4047 1.4057 3-months 1.4060 1.4069 6-months 1.4092 1.4103 Source: OCBC
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      • Article, Illustration
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    • EQUITY BONDS WARRANTS FUTURES
      • 206 11 MDSI EICIWE? F90 9? --nl ‘1'..'.i.-" W 'ffi2'.'! 4.-JMIED-v an 4'uI'-: Hr wr..u» ‘m Secura Group W*****S 2.7 uncn ***** 1 35 .80 7.78 35 085 MB BCWV61 004 $1.5 -0.4 9146 U‘ I 1360 8 Rowsiey LXI! W16‘lDl’l3 L3 uncn 8096 1 "I8 8 OCBC
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      • 377 11 In local curr In S$ In US$ dy yr dy yr dy yr Feb 19 Index Change Change Change Change Change Change World Preliminary 1174.7 -0.4 -8.1 -0.1 -8.2 -0.4 -7.5 EAFE Preliminary 905.6 -0.8 -10.6 -0.4 -10.0 -0.7 -9.3 Europe Preliminary 1286.1 -0.6 -9.0
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      • 386 11 Feb 22 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Feb16 8990.00 9227.50 8987.50 9222.50 *****9 *****0 Mar16 8917.50 9147.50 8915.00 9127.50 *****1 ***** NIKKEI 225 INDEX FUTURES Mar16 *****.00 *****.00 *****.00 *****.00 ***** *****0 Jun16 *****.00 *****.00 *****.00 *****.00 2311 ***** MSCI TAIWAN
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    • BANK RATES
      • 154 11 Feb 22 $S Offer Bid 0vernight 0.08 0.05 1-month 1.125 1.000 2-months 1.1875 1.0625 3-months 1.2500 1.1250 Overnight mode: 0.45 US$ 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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      • 59 11 Feb 22 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0F 1.375 01-Oct-17 100.51 5-Year NX*****X 2.250 01-Jun-21 102.29 10-Year NX*****Z 2.375 01-Jun-25 101.75 101.95 101.88 15-Year NZ*****F 2.875 01-Sep-30 104.29 20-Year NZ*****V 3.375 01-Sep-33 111.29 30-Year NA*****N 2.750 01-Apr-42 101.79 Note:
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    • AGRI METALS ENERGY
      • 250 11 Feb-19 Price Net change change Last Trade Agricultural Feb-19 CBOT Soybeans (US cents/bu) 878.25 -1.50 -0.17% 14/03/2016 CBOT Soybean Oil (US cents/lb) 31.39 -0.44 -1.38% 14/03/2016 CBOT Wheat (US cents/bu) 461.75 -0.50 -0.11% 14/03/2016 Feb-19 LIFFE Cocoa (£/tonne) 2058.00 -51.00 -2.42% 14/03/2016 LIFFE Coffee (US$/tonne) 1384.00 -18.00 -1.28%
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    • 1712 12 Transaction date: Feb 22 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Last Vol Day Div GrYld 153 127 AIMSAMP Cap Reit 131.5 +2 271 131.5 129.5 1 8.4 835.5 MCap 175.5 101 ARA Asset Mgmt 105cd unch
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    • 261 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Company Last Sale Vol ('000) 1 0.3 t Advanced Systems 0.4 +0.1 3177 0.4 0.3 10.5 Day Low Div C'vr GrYld Net P/E MCap 35 10 t 3Cnergy 10.1 29.5 16.7
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    • 104 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale 1043 700 CIMBASEAN40 US$ US792 +8 4 792 792 124.2 4258 2355 DBXT China50 US$ US2564 +22 13 2564 2526 7.1 Day 1750 995 DBXT MSCHINA US$ US1086
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  • Page 7 Advertisements
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  • Page 8 Advertisements
    • 17 8 SINGAPORE CHRONICLES By the experts, for everyone. On sale at $16 at all major bookstores and www.stpressbooks.com.sg
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  • Page 9 Advertisements
    • 137 9 NANYANG TECHNOLOGICAL UNIVERSITY Nanyang Business School MSC FINANCIAL ENGINEERING PROGRAMME Young and research-intensive, Nanyang Technological University (NTU Singapore) is ranked globally. NTU is also placed 1 st amongst the world’s best young universities. The Nanyang Business School offers the Master of Science in Financial Engineering (MFE), a 1-year programme integrating
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  • Page 12 Advertisements
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  • REAL ESTATE
    • 460 13  -  Total investment cost is around S$66.6m in cash and in kind, with SUTL’s commitment at about S$40m By leemx@sph.com.sg Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore ELECTRONICS distributor-turned-ma-rina developer SUTL Enterprise on Monday said its unit has agreed to set up, fund
      460 words
    • 292 13 Singapore JTC has launched an open call seeking innovative ideas to increase the productivity and efficiency of managing industrial buildings and developments. For the first time, it is casting its net wider to reach out to enterprises, startups and research institutions through
      292 words
    • 327 13  -  By Angela Tan angelat@sph.com.sg Singapore CAPITALAND’S serviced residence business unit, The Ascott, has formed a strategic alliance with Dongfu Investment Development Corporation as it deepens its presence in China. The partnership will allow Ascott to have the first right to manage apartments currently
      327 words
    • 279 13 BLOOMBERG Dubai IF you thought declining home prices and rents would damp Dubai developers’ appetite for new projects, think again. DAMAC Properties Dubai Co PJSC is planning six new towers on Dubai’s main highway, while state-owned developer Dubai Properties Group
      BLOOMBERG  -  279 words
    • 507 13 Seller Wheelock says the property, the first of 17 units up for sale, is aimed at gauging market demand BLOOMBERG Hong Kong WHEELOCK Properties Ltd sold a luxury home in Hong Kong’s exclusive Peak neighbourhood to an unidentified buyer for a
      BLOOMBERG  -  507 words
  • Page 13 Advertisements
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      128 words

  • BANKING & FINANCE
    • 1326 14 They worry that any major restructuring could go wrong because of the way post-financial crisis rules are applied REUTERS London WHEN the US Federal Reserve’s newest policymaker Neel Kashkari dropped a bombshell with a call to break up big
      REUTERS; PHOTO: REUTERS  -  1,326 words
    • 495 14 Drop is due to regulatory changes requiring them to hold more capital and liquidity, and retrenchment REUTERS London REVENUE at the world’s 12 largest investment banks from trading fixed income, currencies and commodities (FICC) fell 9 per cent in 2015 compared
      REUTERS  -  495 words
    • 493 14 BLOOMBERG Kuala Lumpur AFTER correctly predicting this year’s slump in Malaysia’s technology shares, Danny Wong Teck Meng is loading up on beaten-down energy stocks. The chief executive officer of Areca Capital Sdn has been buying oil and gas companies in the
      BLOOMBERG  -  493 words
  • Page 14 Advertisements
    • 69 14 REDEFINING IDEAS printpack+sign SINGAPORE’S PRINTING, PACKAGING SIGNAGE BUSINESS EXHIBITION 29 JUNE-1 JULY2016 Sands Expo Convention Centre, Marina Bay Sands, Singapore www.PrintPackSign.com r 4*5 LAUNCH NEW PRODUCTS SHOWCASE LATEST r INNOVATIONS rDEMONSTRATE CUTTING EDGE MACHINERY INTERESTED TO EXHIBIT? (65) 6848 5938 F'l PrintPackSian@bizlink.com.sa Organised By: BIZUNK Exhibition Services Pte Ltd A
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    • 0 14
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    • 12 14 Govtcollects atleast$80m inSeller'sStampDuty inlastfiveyears To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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  • ENERGY & COMMODITIES
    • 530 15 Analysts see little relief from proposed oil production freeze by Russia and Opec REUTERS AFP Singapore OIL prices jumped on Monday following steep losses in the previous session, supported by a fall in the US rig count,
      REUTERS; AFP; PHOTO: BLOOMBERG  -  530 words
    • 249 15 REUTERS London BP has been suspended from the main European diesel trading platform, significantly reducing its ability to participate in setting the benchmark price of the fuel, traders said. Traders said BP had been “boxed out” of the Platts Market on Close
      REUTERS  -  249 words
    • 347 15 BLOOMBERG New York WHILE copper prices have rallied in four of the past five weeks on the prospect of improved industrial demand in China, hedge funds are sceptical that the recovery will last. The funds and other large speculators have been betting on declines
      BLOOMBERG  -  347 words
    • 553 15 REUTERS New Delhi A STATE-RUN Indian firm is poised to seal a contract to build a US$1.6 billion power plant in Bangladesh, beating out a Chinese competitor in the latest commercial tussle between the region’s two dominant powers. After China’s recent
      REUTERS  -  553 words
  • Page 15 Advertisements

  • TECHNOLOGY
    • 961 16 Tokopedia creates buzz following deals with SoftBank, Sequoia; founder has no plans to take startup public this year BLOOMBERG Singapore WILLIAM Tanuwijaya was helping small companies build websites when he began shopping an idea for Indonesia’s first Internet shopping hub. It
      BLOOMBERG  -  961 words
    • 717 16 NYT Guildford, Britain ON the outskirts of this sleepy commuter town just south of London, plans are underway to build the fastest cellphone network in the world. The work is being done at the University of Surrey, where a leafy campus
      NYT  -  717 words
    • 835 16 REUTERS, NYT New York APPLE Inc has called for the creation of a government commission or panel of specialists on encryption to help resolve the stand-off over national security and data privacy that began last week after the technology company refused a US
      REUTERS,; NYT; BT ILLUSTRATION: SIMON ANG  -  835 words
    • 438 16 BLOOMBERG London HUAWEI Technologies Co will back Apple Inc as it contests a US government order requiring the unlocking of a terrorist’s iPhone, taking the side of the industry’s biggest names in a clash over the balance between law enforcement and consumer
      BLOOMBERG  -  438 words
  • Page 16 Advertisements
    • 434 16 zIELGj ASIA’S LARGEST EDUCATIONAL KIDS’ FAIR 18-20 MARCH 2016 (SCHOOL HOLIDAYS) SINGAPORE EXPO HALL 6 Be a part of SmartKids Asia 2016! iT Promote and sell your brand, products and services to a targeted 90,000 parents with children from ages 3 to 12! CONTACT US NOW! Ms Suhaliana AM *****737
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    • 12 16 FBI’s spat with Apple: firms will need a foreign policy, Page 21
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  • CONSUMER
    • 695 17 It sucks CO2 from air cheaply and at a commercial scale BLOOMBERG London CLIMEWORKS AG is not the first company to figure out how to suck carbon dioxide out of the air. It may become the first to make money from it at
      BLOOMBERG; PHOTO: REUTERS  -  695 words
    • 478 17 REUTERS Barcelona MOBILE equipment maker Nokia sees the shift to the next generation of 5G wireless networks kicking off well ahead of 2020, the year when many in the industry consider mass-mar-ket upgrades will begin, its chief executive
      REUTERS  -  478 words
    • 406 17 Authorities drafting amendments to rules monitoring pharmaceutical sales REUTERS Beijing CHINA’S food and drugs regulatory body said it had suspended its electronic drug monitoring system, a platform operated by Alibaba Health Information Technology Ltd, while it drafts amendments to regulations monitoring pharmaceutical
      REUTERS  -  406 words
    • 651 17 NYT Salem, New York SNOWMOBILE sales have sputtered, ski resorts are struggling and some bait shops, which rely heavily on ice fishing, can barely afford to keep their lights on. But an exceptionally mild winter in the northern stretch of New York
      NYT; PHOTO: BLOOMBERG  -  651 words
  • Page 17 Advertisements
    • 72 17 NOTICES NOTICE OF INTENDED DIVIDEND Name of Company RGM Group Pte Ltd (In Liquidation) Company Registration No. *****7043G Address of Registered Office c/o The Liquidators’ Office Last day for receiving Proofs 08 March 2016 Name of Liquidators Victor Goh Sim Guan Seng Address c/o Baker Tilly TFW LLP 600 North
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  • TRANSPORT
    • 293 18 Based on international aviation standards and best practices, training will address competency gaps in these regions Singapore THE Civil Aviation Authority of Singapore (CAAS) has signed new training memorandums of understanding (MOUs) with the Agency for Air Navigation Safety in
      293 words
    • 712 18 Shipping companies, steelmakers need to cut capacity, and fast. But the chances of that happening look slim BLOOMBERG Frankfurt THE global steel and shipping industries have for years been locked in a tight embrace. Iron ore and coal, key raw materials for making steel, are among
      BLOOMBERG; PHOTO: BLOOMBERG  -  712 words
    • 305 18 BLOOMBERG Tokyo An ANA Holdings Inc Dreamliner bound for Tokyo made an emergency landing in Kuala Lumpur on Monday after receiving a warning that the temperature of the exhaust gas from its right engine was very high. The pilots of
      BLOOMBERG  -  305 words
    • 800 18 BLOOMBERG Southfield, United States CARMAKERS are becoming a familiar sight at tech shows, where they are rolling out new models to woo a generation of consumers who question the need for a car that only gets them from A
      BLOOMBERG  -  800 words
    • 454 18 REUTERS Sao Paulo GENERAL Motors Co will reconsider plans for new investment in Brazil if the economic and political situation does not improve, the company’s president Dan Ammann said in an interview published on Sunday. Brazil was until recently
      REUTERS  -  454 words

  • GOVERNMENT & ECONOMY
    • 807 19 Finding provides further evidence that price cutting is likely to solidify expectations of more monetary policy easing from ECB in March REUTERS London EUROZONE private business growth increased at its weakest pace for over a year in February, much worse than expected, after
      REUTERS  -  807 words
    • 652 19 REUTERS London THE pound sterling headed towards its biggest loss in almost six years against the dollar on Monday, hit by a rise in the odds on a “Brexit” after a handful of senior ruling Conservatives joined the campaign
      REUTERS; PHOTO: REUTERS  -  652 words
    • 694 19 REUTERS New Delhi A US$16 billion pay rise for India’s public servants and costly food and farm programmes could force the country’s finance minister to cut capital spending in its annual budget, officials and economists say. The spending pressure on Finance
      REUTERS  -  694 words
    • 664 19  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur A GROWING number of contributors to Malaysia’s largest private-sector pension fund, the Employees Provident Fund (EPF), have been withdrawing their contributions. They include those who have emigrated. Under the “leaving country” scheme for withdrawals, 3,098 members
      664 words
    • 316 19 AFP Beijing CHINA’S overcapacity in heavy industries is wreaking “far-reaching” damage on the global economy, with steel production “completely untethered” from market demand, the European Union Chamber of Commerce of China said on Monday. The Asian giant’s steel industry makes more than the
      AFP  -  316 words

  • OPINION
    • 574 20 EDITORIAL THE issue of how to lure Singapore’s over-seas-based engineers back home, and how to make the profession a more attractive and lucrative one, has been in the news of late. On a week-long trip to California earlier this month,
      574 words
    • 1386 20  -  To move in that direction, US must go beyond well-intentioned plans and “historic” summits By Leon Hadar Washington IF YOU have watched US President Barack Obama’s press conference telecast live from Ranch Mirage in California last Tuesday after what was billed as a
      PHOTO: REUTERS  -  1,386 words
    • 793 20  - Everything dies from old age even expansions THE BOTTOM LINE By Robert J Samuelson THE WASHINGTON POST WRITERS GROUP Washington AT HER most recent press conference in December, Federal Reserve Board chair Janet Yellen had this (abbreviated) exchange with ABC News reporter Rebecca Jarvis. Ms Jarvis: Historically, most economic expansions
      THE WASHINGTON POST WRITERS GROUP  -  793 words
    • 1104 21  -  COMMENTARY By Anatole Kaletsky T The writer is chief economist and co-chairman of Gavekal Dragonomics and the author of ‘Capitalism 4.0, The Birth of a New Economy’ PROJECT SYNDICATE London AMONG the multiple existential challenges facing the European Union (EU) this
      PROJECT SYNDICATE  -  1,104 words
    • 1020 21  -  By By Chung-Sim Siew Moon, Russell Aubrey T Chung-Sim Siew Moon is partner and head of tax, and Russell Aubrey is transaction tax partner, Ernst Young Solutions LLP. THE Committee on the Future Economy set up by the Singapore government
      1,020 words
    • 1129 21  -  Companies better be prepared for an increase in similar situations.BY situations.BY ANDREW HAMMOND T The writer is an associate at LSE IDEAS (the Centre for International Affairs, Diplomacy and Strategy) at the London School of Economics London US PRESIDENTIAL candidate
      PHOTO: REUTERS  -  1,129 words


  • Page 22 Advertisements
    • 983 22 THE BUSINESS TIMES V’-a-'V Shipping times 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
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  • LIFE & CULTURE
  • Page 23 Miscellaneous
    • 330 23 CRYPTIC CROSSWORD Across 1 Father on edge taken aback to be hugged by authentic flapper (3,7) 6 Fruit crackers (4) 9 Long leases to get rent in American city (3,7) 10 Spots top flier round north (4) 12 Hairdo for every male (4) 13 Did bear run right off by
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  • SME
    • 721 24  -  Waste management association tackles land and labour challenges head on. BY MINDY TAN tanmindy@sph.com.sg @MindyTanBT WHEN Melissa Tan took over as chairwoman of the Waste Management and Recycling Association of Singapore in 2013, she decided to tackle head on the two main challenges faced
      721 words
    • 1103 24  -  By Luenne Angela Choa, Jonathan Eng T Luenne Angela Choa is the co-founder of Hornbills: Concepts and Communications, a start-up focused on effective communication, skills training and empowerment for SMEs and their staff. Jonathan Eng is the design director
      FILE PHOTO  -  1,103 words