The Business Times, 18 March 2016

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Total Pages: 36
1 36 The Business Times
  • 22 1 THE BUSINESS TIMES A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BusinessTimes S$1.20 CO REGN NO *****2868E MCI (P) 039/08/2015 Friday, March 18, 2016
    22 words
  • Article, Illustration
    256 1 SME sentiment has dipped to neutral after six straight years of optimism amid economic headwinds.TOP STORIES 2 The IMF is launching a major debate on the future of the international monetary system in an attempt to stave off possible future crises. TOP STORIES 2 Swiber Holdings has emerged
    256 words
  • 27 1 Thursday Change STI 2,880.17 +35.96 KL COMP 1,703.19 +9.76 NIKKEI 225 16,936.38 -38.07 HANG SENG 20,503.81 +246.11 SHENZHEN B 1,104.04 +12.99 DOW (11.45 EDT) 17,407.19 +81.43
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  • 1051 1  -  US$ slides to eight-month low against S$, equities surge as risk appetite returns, but bullish mood could fizzle out in S’pore as soon as early April By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore IN one stroke or lack thereof the United States Federal Reserve turned
    Source: Bloomberg; Source: Lombard Odier Asia  -  1,051 words
  • 664 1  -  They are found to have forced competitor iFAST to withdraw a 50% commission rebate offer in 2013 By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore IN a first-of-its-kind case for the local financial services industry, 10 financial advisory firms have been slapped
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  • Page 1 Advertisements
    • 143 1 *****1 *****1 THE BUSINESS TIMES The Power of Dreams 53 A STATUS. A STATEMENT Meet the statement of your status, the all-new Honda Legend Sport Hybrid SH-AWD. A breathtaking V6 3.5L Direct Injection i-VTEC® engine leads the way. A refined interior complete with hand-stitched leather seats and a 14-speaker KRELL®
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    • 10 1 JAPAN FESTIVAL Art of the rising sun BT LIFESTYLE 36
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    • 27 1 SINGAPORE ECONOMY Non-oil domestic exports up 2.1% in February TOP STORIES 3 SINGAPORE BUDGET 2016 Reprieve for property developers unlikely TOP STORIES 4 LUXE TRAVEL PAGES 19-23
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  • TOP STORIES
    • 476 2  -  index compiled by Singapore Business Federation and DP Information shows dips across business sectors as well By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore AMID economic headwinds, sentiment among small and medi-um-sized enterprises (SMEs) has dipped to neutral after six straight years of
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    • 499 2  -  By Renald Yeo yrenald@sph.com.sg Singapore THE shell casings saved from the 21 -gun salute fired during the state funeral procession for the late Lee Kuan Yew have been presented to organisers of the funeral and institutions closely associated with him, the
      PHOTO: ALPHONSUS CHERN/THE STRAITS TIMES  -  499 words
    • 491 2  -  By Anthony Rowley btworld@sph.com.sg Tokyo THE International Monetary Fund (IMF) announced on Thursday that it is launching a major debate on the future of the international monetary system in an attempt to stave off possible future crises and in an effort
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    • 581 3  -  Rise attributed to low-base effect; shipments to developed markets up, but Asian markets still weak By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore NON-OIL domestic exports (NODX) surprised on the upside with a 2.1 per cent rise in February from a
      Source: IE Singapore  -  581 words
    • 467 3  -  By Samuel Ee samuelee@sph.com.sg Singapore KEEN competition has been good news for vehicle owners when it comes to motor insurance premiums but not so for the industry as a whole. The average motor premium dipped 2.9 per cent to S$ 1,192 in 2015,
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    • 268 3  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore NINE individuals have been nominated by the Special Select Committee for appointment as Nominated Members of Parliament (NMPs), including four who also served in the previous term. They are: Azmoon Bin Ahmad, Chia Yong Yong, Thomas
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    • 1119 4  -  Redas seeks policy review to ensure property market slowdown doesn’t spill over into broader economy, but MAS and economists see no severe impact SINGAPORE BUDGET 2016 By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore IT seems unlikely that the government will offer property developers any reprieve in
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    • 84 4  -  The Real Estate Developers’ Association of Singapore has repeatedly called for a review of cooling measures, warning that a continued property market slowdown may lead to volatility and instability in Singapore‘s broader economy. The Business Times looks at the possible ways that a sector
      Source: Singapore Department of Statistics, Council for Estate Agencies, Monetary Authority of Singapore, Ministry of Manpower, Ministry of Trade and Industry  -  84 words
    • 425 4  -  Bank IPOs expose dark arts of Chinese finance By Peter Thal Larsen Hong Kong HONG KONG’s stock market is shining a new light on the dark arts of Chinese finance. The country’s mid-sized lenders have become skilled at repackaging loans to look like lower-risk investments. Two impending
      PHOTO: REUTERS  -  425 words
  • Page 2 Advertisements
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  • COMPANIES & MARKETS
    • 512 5  -  Company said to have submitted lowest joint bid of US$218m for ONGC contract, beating runner-up by just US$2m By Tan Hwee Hwee hweetan@sph .com .sg @HweetanBT Singapore SINGAPORE-LISTED Swiber Holdings has emerged as the front-runner for a contract with India's state-owned Oil Natural Gas
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    • 325 5  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore DBS Group Research has maintained its buy rating on The Trendlines Group, despite the Catalist-listed medical (medtech) and agricultural tech (agtech) incubator losing the bid to renew its agtech incubator licence. It is “not a material loss”,
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    • 111 5 BLOOMBERG Singapore FULLERTON Fund Management Co, owned by Singapore investment company Temasek Holdings, has hired Pranay Gupta as head of multi-asset strategies, a new role that it has created as it seeks to offer more investment offerings combining different asset classes. “As investors
      BLOOMBERG  -  111 words
    • 1160 6  -  Fundamentals remain challenging with supply-demand imbalances expected to persist especially in 2 sub-sectors HOCK LOCK SIEW BY TAN HWEE HWEE hweetan@sph.com.sg @HweetanBT THE recent gains in oil prices from the rock-bottom US$20s in February have led to advances in offshore and marine (O&M) stocks
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    • 721 6  -  Worsening margins and leverage have lowered firm’s rating from BB+ to BB By Pauline Ng btworld@sph.com.sg Kuala Lumpur STANDARD Poor’s Rating Services has downgraded the long-term corporate credit rating of China property developer Country Garden Holdings Co Ltd
      FILE PHOTO  -  721 words
    • 610 6  -  By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore KUALA Lumpur-listed Hibiscus Petroleum, undaunted by low oil prices, has completed the acquisition of its first oil-and-gas fields in the UK North Sea. Malaysia’s first listed oil-and-gas independent has also set targets for
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    • 659 6 REUTERS London STATE-RUN conglomerate China Merchants Group has made an informal bid to buy London’s Baltic Exchange, becoming the latest contender for the business that has been the hub of the global shipping market for centuries, two sources told Reuters.
      REUTERS  -  659 words
    • 325 6  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore CREDIT Suisse on Thursday said it has seen the overall value of trades doubling on its digital platform in the past few months, with strong trading activity in the US market, as more clients adopt its
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    • 498 7  -  Construction player Lum Chang issues three-year bond at 5.5% per annum to raise some S$50m; Ascendas prices its 10-year bond at 3.5% per annum to raise S$75m By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore AS THE Federal Reserve holds off raising interest rates,
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    • 262 7  -  By Grace So graceso@sph.com.sg Singapore UOB Asset Management (Taiwan) has been awarded a Securities Investment Trust Enterprise (SITE) licence, the first fully foreign-owned fund management company to have obtained such a licence in Taiwan since 2001. The licence, which was awarded by the Financial
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    • CORPORATE DIGEST
      • 43 7 A SUBSIDIARY of Midas Holdings has clinched contracts worth 247.7 million yuan (S$51.8 million) to supply train car components to CRRC Changchun Railway Vehicles this year. They are expected to contribute positively to the firm’s financial performance for the current financial year.
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      • 40 7 CITIC Envirotech has won two waste water treatment projects in China involving a total investment of 147 million yuan. These projects will be funded by proceeds from its US$175 million senior perpetual securities issued in November last year.
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      • 30 7 GLOBAL Logistic Properties (GLP) has signed a new 161,000-square-foot (15,000-square-metre) lease with Akachan House, a leading e-commerce retailer for baby products in Japan, at GLP Narita in Greater Tokyo.
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    • Article, Illustration
      63 8 STI Catalist Straits Times Index March 17,2016 2,880.17 +35.96 (+1.26%) Current streak 2 days Day high 2,884.40 Day low 2,865.81 52-week high 3,539.95 (Apr 15, 2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist Index March 17,2016 470.20 +7.61 (+1.65%) Current streak 2 days Day high 470.20 Day low
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    • 630 8  -  Markets appear to be happier with a weak economic outlook since this means more stimulus from central banks STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THE “bad news is good for stocks” mode of investing made its unsurprising return on Thursday as the
      Source: Bloomberg  -  630 words
    • 313 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 242 unch 244/242 271 209 6 6356.7 CapitaLand 319 +5 320/317 379 267 12.8 2.8 *****.9 CapitaMall Trust 213 +3 216/212 228 184.5 5.3 7404 CityDev 767 cd +9 781/761 1095 661
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    • 34 8 VOLUME Ezra 153,075,900 Spackman 146,961,500 Annica 68,800,000 Noble 53,165,100 ISR Capital 52,840,300 Market volume 1,743,181,000 VALUE DBS Grp 110,659,893 Singtel 97,587,881 OCBC Bank 79,229,793 UOB 61,227,057 Keppel Corp 57,318,334 Market value 1,195,531,000
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    • 77 8 Mar 17 VALUE CLOSE BT OB/OS 253.00 +39.00 BT CADI -*****.00 +120.00 BT 10-day MA -*****.00 +25.00 FTSE ST Mid Cap 689.01 +4.99 FTSE ST Small Cap 403.26 +2.53 FTSE ST All Share 699.95 +6.71 FTSE ST China Top 165.56 +1.38 FTSE ST China 195.66 +1.92 FTSE
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    • 35 8 STI FTSE ST All-Share FTSE ST All-Share index March 17,2016 699.95 +6.71 (+0.97%) Current streak 2 days Day high 701.05 Day low 697.82 52-week high 847.98 (Apr 15, 2015) 52-week low 625.37 (Jan 21, 2016)
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    • 33 8 STI MSCI EAFE MSCI EAFE index Mar 16,2016 1,628.64 -9.29 (-0.57%) Current streak 2 days Day high 1,649.77 Day low 1,622.40 52-week high 1,949.49 (May 15, 2015) 52-week low 1,492.43 (Feb 12, 2016)
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    • 186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 2 3 1 0 0 9 2 3 Manufacturing 56 25 28 10 5 15 66 30 43 Commerce 23 18 14 5 5 4 28 23 18 Tpt/Stor/Comms 15 11 9
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    • 121 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 27,222 1,964 29,186 103,408 381 103,789 Manufacturing 113,896 143,109 257,005 111,169 4,822 115,992 Commerce 79,696 60,629 140,325 84,802 2,408 87,210 Tpt/Stor/Comms 259,340 630 259,970 237,905 53 237,957 Finance 97,673 97,673 268,563 268,563 Construction 65,850 7,328
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    • 82 8 VOL CLOSE($) CHANGE ISR Capital 52,840.3 0.006 +0.002 +50.00 Darco Water Tech 52.7 0.300 +0.080 +36.36 SUTL Enterprise 86.4 0.400 -0.030 -6.98 Medtecs Intl 13,190.3 0.057 +0.005 +9.62 AliPictures HKD 12.0 1.200 -0.100 -7.69 IHC 19,390.2 0.084 +0.025 +42.37 Otto Marine 771.7 0.245 +0.040 +19.51 CDW 1,305.3 0.165
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    • 79 8 BY CENTS CLOSE DOWN 52w high/low JSH USD 2868 -29.9 -0.8 3578/2524 DBXT S&PShort US$ 2128 -24.5 -0.8 2393/2086 IS ASIA HYG S$D 1415 -20.0 -1.4 1499/1411 IS ASIA BND S$D 1438 -12.0 -0.8 1483/1398 DBS Bk 4.7% NCPS ***** -10.0 -0.1 *****/***** BY PERCENTAGE CLOSE DOWN 52w high/low
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    • 74 8 BY CENTS CLOSE UP 52w high/low GLD US$ ***** 461.1 2.9 *****/***** Lyxor Indonesia US$ 8325 329.2 3.0 9094/6250 DBXT Nifty US$ ***** 318.3 2.1 *****/***** SPDR DJIA US$ ***** 280.2 1.2 *****/***** Hyflux 6% CPS ***** 200.0 1.9 *****/***** BY PERCENTAGE CLOSE UP 52w high/low CompactMetal W*****0 0.5
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    • 108 8 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap DBXT MS SING US$ US98.1 500 -/-135.3/97.5 113.6/114.1 4.9 STI ETF 288 +3 318 289/287 355/254 288/289 IS MS INDIA US$ US644 +9 296 649/644 827/575 644/649 80.5 DBXT MSBrazil US$ US276 +14 270 276/266 399/190
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    • BROKERS’ TAKE
      • 138 8 RHB Research, Mar 16 We upgrade the S-Reits sector to “Overweight” from “Underweight” as we see value emerging. We think that this sector is extremely attractive, as it has the widest yield spreads among its peers. We like the retail subsector for its unbeatable resilience and expect
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      • 138 8 Trendlines Buy Mar 17 close: S$0.194 Target price: S$0.28 DBS Group Research, Mar 17 Trendlines’ bid to renew its agricultural technology (agtech) incubator license in Israel has been denied. The group hopes to bundle agtech investments with its medical tech (medtech) licence. Even in the worst case scenario of being
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      • 202 8  - Singapore Land Transport Neutral Compiled by Andrea Soh OCBC Research LTA announced recently that its third annual Taxi Customer Satisfaction Survey (TCSS) found 97.3 per cent of respondents were satisfied with taxi services in 2015, a decline of 0.8 percentage point from 98.1 per cent in 2014. Ease of taxi
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    • 410 9 CURRENCIES REUTERS New York THE dollar tumbled against major currencies on Thursday, falling around 1 per cent against the euro, yen and Swiss franc, as markets sold off in reaction to Wednesday’s dovish statement from the Federal Reserve. The dollar was notably volatile against
      REUTERS  -  410 words
    • FOREX RATES
      • 22 9 Mar 17 S$ Bid Offer 1-month 1.3607 1.3610 2-months 1.3612 1.3617 3-months 1.3617 1.3624 6-months 1.3639 1.3646 Source: OCBC
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      • 155 9 Mar 17 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0387 1.0396 0.7636 0.7641 Canadian dollar 1.0440 1.0444 0.7677 0.7675 Euro 1.5324 1.5331 1.1265 1.1269 NZ dollar 0.9269 0.9276 0.6814 0.6818 Sterling pound 1.9406 1.9417 1.4266 1.4272
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      • Article, Illustration
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      • 471 9 Mar 17 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.995 4.958 0.678 5.926 50.955 100.045 0.852 8.938 3.119 1.121 79.941 35.420 1.039 11.981 0.745 24.882 26.586 0.535 0.764 Canada 1.005 4.982
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      • Article, Illustration
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    • EQUITY BONDS WARRANTS FUTURES
      • 389 9 Mar 17 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Mar16 9390.00 9560.00 9352.50 9490.00 *****9 *****8 Apr16 9297.50 9482.50 9265.00 9407.50 ***** ***** NIKKEI 225 INDEX FUTURES Jun16 *****.00 *****.00 *****.00 *****.00 *****7 *****2 Sep16 *****.00 *****.00 *****.00 *****.00 171 532 MSCI TAIWAN
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      • 214 9 Mar 17 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Ntegrator Intl Ltd W*****3 0.4 -0.1 8140 1 1 3.50 32 CSC Holdings W*****9 1.2 0.2 7895 1 1 10 1.67 57 KepCorp MB eCW*****2 13.2 0.6
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      • 377 9 In local curr In S$ In US$ dy yr dy yr dy yr Mar 16 Index Change Change Change Change Change Change World Preliminary 1234.3 0.0 -3.4 0.0 -5.2 -0.1 -2.7 EAFE Preliminary 948.2 -0.1 -6.4 -0.4 -7.5 -0.5 -5.1 Europe Preliminary 1346.6 0.1 -4.7
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    • BANK RATES
      • 154 9 Mar 17 $S Offer Bid 0vernight 0.08 0.03 1-month 1.125 1.000 2-months 1.1875 1.0625 3-months 1.2500 1.1250 Overnight mode: 0.20 US$ 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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      • 69 9 Mar 17 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0F 1.375 01-Oct-17 100.69 100.77 100.71 5-Year NX*****X 2.250 01-Jun-21 102.75 102.80 102.38 10-Year NX*****Z 2.375 01-Jun-25 102.85 102.70 102.10 15-Year NZ*****F 2.875 01-Sep-30 105.56 105.70 104.70 20-Year NZ*****V 3.375 01-Sep-33 111.76
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    • AGRI METALS ENERGY
      • 250 9 Mar-16 Price Net change change Last Trade Agricultural Mar-16 CBOT Soybeans (US cents/bu) 894.50 2.50 0.28% 13/05/2016 CBOT Soybean Oil (US cents/lb) 32.69 0.20 0.62% 13/05/2016 CBOT Wheat (US cents/bu) 470.75 -6.50 -1.36% 13/05/2016 Mar-16 LIFFE Cocoa (£/tonne) 2261.00 3.00 0.13% 13/05/2016 LIFFE Coffee (US$/tonne) 1395.00 3.00 0.22%
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    • 2004 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Company Last Sale Vol ('000) High 153 127 AIMSAMP Cap Reit 133.5 -0.5 228 134 133 1 8.3 848.2 LOW 175.5 101 ARA Asset Mgmt 118cd -1 896 120 118
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    • 278 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Company Last Sale vol ('000) 1 0.2 t Advanced Systems 0.3 unch 1100 0.3 0.3 7.9 Day Low Div C'vr GrYld Net P/E MCap 35 8.8 t 3Cnergy 8.8 29.5 16.7
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    • 125 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale vol 4258 2355 DBXT China50 US$ US2735 +29 0 2750 2735 7.5 399 190 DBXT MSBrazil US$ US276 +14 270 276 266 1750 995 DBXT MSCHINA US$ US1147
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  • Page 5 Advertisements
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  • Page 7 Advertisements
    • 295 7 ANCHOR RESOURCES LIMITED (Company Registration Number *****1549N) (Incorporated in the Republic of Singapore on 12 August 2015) ANCHOR RESOURCES LIMITED HAS SUCCESSFULLY LISTED ON SGX CATALIST THANK YOU FOR YOUR SUPPORT AN EMERGING GOLD EXPLORATION, MINING AND PRODUCTION GROUP We are engaged in the business of exploration, mining and production
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  • Page 10 Advertisements
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  • Page 11 Advertisements
    • 856 11 L SINGAIPOft£ j vidian BUSINESS _Ea.DEI£$ AWARDSSINGAPORE INDIAN BUSINESS LEADERS AWARDS RECOGNISING THE SPIRIT OF Entrepreneurship J W Ui Singapore Indian Chamber of Commerce Industry AS ftA> r:. s -_N.n < S -A DR.R THEYVENDRAN PBM STAMFORD PRESS PTE LTD KESAVAN S/O SATHYAMOORTHY DIAMOND GLASS ENTERPRISE PTE LTD T, S''
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  • BANKING & FINANCE
    • 1258 12 Stolen from Bangladesh’s account at New York Fed, money disappears after transfer to murky Manila banking system NYT Manila IT is a financial whodunit for the digital era: more than US$80 million of Bangladesh’s money vanished last month after it
      NYT; PHOTO: BLOOMBERG  -  1,258 words
    • 631 12 Their 6.7% fall this year is preventing S&P 500 from erasing year-to-date decline BLOOMBERG New York BEFORE this year, bank stocks were the second biggest driver of the rally that added US$ 14 trillion to American share prices since 2009. They are rapidly
      BLOOMBERG  -  631 words
    • 304 12 NYT New York AN advocate for stricter Wall Street regulations is asking shareholders of JPMorgan Chase and Citigroup to vote to consider breaking up the banks. The proposal, by Bartlett Naylor, the financial policy advocate at the activist organisation Public Citizen, is expected
      NYT  -  304 words
  • Page 12 Advertisements
    • 146 12 Wine, V'..- EASTER GASTRONOMIC BRUNCH This Easter Sunday, indulge in a gastronomic brunch with an array of chilled seafood on ice featuring Maine Lobster, Alaskan Snow Crab Leg and South American Queen Roe Scallop, freshly shucked oysters, roast carvings of Blackmore Wagyu Beef, mouthwatering handcrafted desserts and more. Complementing the
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  • ENERGY & COMMODITIES
    • 814 13 Shareholders estimated to lose more than US$7.4b in income this year; quarterly payments unlikely to be restored any time soon even if energy prices rebound BLOOMBERG New York BLUDGEONED by falling energy prices, at least a dozen oil and natural gas companies have
      BLOOMBERG  -  814 words
    • 784 13 BLOOMBERG New York WELCOME to the twilight of American coal. Peabody Energy Corp, the nation’s biggest miner, is on the verge of bankruptcy, crippled by US$6.3 billion in debt. The company’s announcement on Wednesday that it may file sent a decisive signal
      BLOOMBERG; PHOTO: REUTERS  -  784 words
  • Page 13 Advertisements
    • 107 13 MOVING OUT SALE!!! Below cost price clearance Everything must gol i KO O d N u J I 1 TM J Castilla Flagship Store Park Mall 9 Penang Road, #03-08/09/10/11/12 Tel: 6337 6433 6337 6422 6336 6730 1 1 am to 9pm Daily www.castilla.com.sg les jardins 7 a-! HU 4
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  • Page 15 Advertisements
    • 1391 15 Sian Chay Medical Insitution 7 15 years Old (1901-2016) Advertorial Century-old TCM Charity Revived and Expanded for The Needy SIAN CHAY CHARITY GALA DINNER CONCERT 2016 Guest of Honour: Dr Tony Tan Keng Yam President of the Republic of Singapore Special Guests: Mr Ng Chee Meng Acting Minister for Education
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  • CONSUMER
    • 644 16  -  Firms such as Sharp and Toshiba never ventured to get cross-pollination from global expertise By Anthony Rowley btworld@sph.com.sg Tokyo HOT on the heels of a bid by Taiwan’s Hon Hai company to acquire Japanese electronic goods manufacturer Sharp Corporation, another famous
      PHOTO: REUTERS  -  644 words
    • 641 16 BLOOMBERG London COMPANIES that profit from Britain’s sweet tooth plunged as the UK unveiled a sugar tax, a surprise move that adds another burden to food and beverage companies grappling with marketing restrictions and a shift towards healthier
      BLOOMBERG  -  641 words
  • Page 16 Advertisements
    • 656 16 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF IPM FUEL COMPANY PTE. LTD. (Registration No. *****8703K) (In Member’s Voluntary Liquidation) NOTICE OF RESOLUTIONS [Pursuant to Section 290(2)(b)] An Extraordinary General Meeting of the Company deemed to have been convened pursuant to Section 179(6) of
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    • 497 16 NOTICES T O L L F R E E 1 8 0 0 -2 8 9 8 8 2 2 I E m a i l n o t i c e s s p h c o m s g I w w w s p h c l
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    • 760 16 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 ELLINGTON INTERNATIONAL PTE. LTD. (Regn. No. *****3151H) (INCORPORATED IN SINGAPORE) At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 60B Orchard Road,#06-18 The Atrium@Orchard, S(*****1) on the 17 MAR 2016 the Resolutions set out below were
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    • 547 16 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF (1) LUM CHANG REALTY PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) (Co. Reg. No. *****7903E) (2) SUNGEI LONG HOLDINGS PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) (Co. Reg. No. *****3524G) NOTICE OF RESOLUTIONS At the Extraordinary General Meeting
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    • 298 16 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 AND IN THE MATTER OF BAXUS LIMITED (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****8316C NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that, pursuant to Section 308 of the Companies Act, Chapter 50, the Final Meeting of the Members of
      298 words
    • 400 16 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 FRANKEL INVESTMENTS PTE. LTD. (Regn. No. *****6165E) (INCORPORATED IN SINGAPORE) At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 60B Orchard Road,#06-18 The Atrium@Orchard, S(*****1) on the 17 MAR 2016 the Resolutions set out below were
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  • GOVERNMENT & ECONOMY
    • 997 17 Ex Finance Ministry official Sakakibara sees more stimulus including further cuts to minus 0.1% deposit rate BLOOMBERG Tokyo WHEN the yen started 2016 as the developed world’s best performer, most analysts were taken by surprise. They had been forecasting
      BLOOMBERG; PHOTO: REUTERS; AFP  -  997 words
    • 380 17 REUTERS Tokyo JAPAN’S exports fell for the fifth month in a row in February, and although shipments to China picked up worries remain that fragile overseas demand could tip the world’s third-largest economy into its fourth recession in five years. Exports fell 4
      REUTERS  -  380 words
    • 579 17 BLOOMBERG Jakarta INDONESIA’S central bank cut its main interest rate for the third straight month, taking advantage of a benign inflation outlook and a strengthening currency to deliver a monetary boost to the economy. Governor Agus Martowardojo and his board
      BLOOMBERG  -  579 words
    • 371 17 AFP London THE prospect of Donald Trump winning the US presidency represents a global threat on a par with jihadist militancy destabilising the world economy, according to British research group EIU. In the latest version of its Global Risk assessment, the Economist
      AFP  -  371 words
    • 1313 18 Much of big business is making the case for staying in the bloc with a third of UK’s biggest firms backing Cameron REUTERS Preston, England ARGUMENTS on the merits of the European Union and whether workers should gamble with their jobs by
      REUTERS; PHOTO: REUTERS  -  1,313 words
  • Page 17 Advertisements
    • 69 17 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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    • 5 17 Buying Opportunities Property Outlook 2016
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    • 165 17 Presented to you by WHAT YOU WILL LEARN How to bridge between short term trading and long term investing with the integration of FA and TA Know the interactions of macroeconomic indicators and stocks in bullish and bearish markets How to manage trader/investor psychology of greed and fear Learn the
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  • Page 18 Advertisements
    • 609 18 FULL-DAY WORKSHOPS THE MODERN WORKPLACE: ARE YOU EQUIPPED FOR IT? Who should attend: Directors, Business Owners, Supervisors, Professionals, Managers, Executives, and Leaders who wish to grow further in their roles. VISUAL STORYTELLING We live in an age of information abundance and attention scarcity where audiences have lesser time to take
      609 words

  • LUXE TRAVEL
    • 849 19  -  Self-driving offers a compelling alternative to air transfers for travellers seeking the real Africa.BY Africa.BY LOW KA WEI MORE Singaporeans than ever are travelling to Africa for holiday. Luxury vacation specialist Quotient Travel Planner's managing director Javiny Lim, for instance, says her company now
      PHOTOS: LOW KA WEI  -  849 words
    • 1050 20  -  With excellent wineries, Chef's Hat restaurants and lush natural beauty, the Mornington Peninsula in Australia has long been one of Melbourne's best-kept secrets. BY KAREN TEE BY KAREN TEE NOT many vacation mornings start with an idyllic horseback ride through some of Australia's most picturesque vineyards
      PHOTOS: TOURISM VICTORIA  -  1,050 words
    • 1164 22  -  Chic and sophisticated Cape Town is an often overlooked tourist destination by travellers from this region, but with its beautiful beaches, iconic Table Mountain range, charming hospitality and thriving dining scene, this probably won't be the case for long. BY KAREN TEE IT is one of
      1,164 words
  • Page 19 Advertisements
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    • 333 19 2016 SAILINGS Oceania cruises Va SPECIAL OFFER FREE Internet r -i r r r* tl r one choice: House Beverage Package 4 Shore Excursions* $400 Shipboard Credit FYVV M hi 12N ATHENS TO ROME 10N ATHENS TO ATHENS Sailing date: 2016, Apr 28 Ports: Athens (Piraeus), Santorini, Patmos, Rhodes, Limassol,
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  • Page 20 Advertisements
    • 248 20 ROCKY MOUNTAINEER T f VSZ 1 Truly Moved By The l^vCru&i' K •■•■si t, ‘0, > JT Fir; 1 If SB 1 EXTRA BONUS UN/I1WW Sp ec/ BOOK NOW AND RECEIVE X. A, S. v V. ONBOARD CREDIT PER COUPLE '■'if t. ii w™ "Vf- I A, M l f/
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  • Page 22 Advertisements
    • 389 22 848) (TA Your Cruise Holiday is All About Choice Your Cruise Specialist Offering the Widest Range of International Regional Cruise Lines Chan Brothers Eggs-Traordinary Travel Fair Preview Sale 18 20 Mar (Fri Sun) FREE Limited Edition 24” Trolley Luggage per Citi Credit Cardmember with $3500 charge for new bookings only,
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    • 275 22 Chans World Holidays min t irimiKi ji; flMwt l/i i7i CHAN BROTHERS GROUP OF COMPANIES ill .wt 10/11D WONDERS OF MEXICO Mexico City Tour with National Palace Guadalupe Shrine Teotihuacan Pyramids Complex Cuernavaca La Cathedral Taxco City Merida City Tour Kabah Palace of Masks Uxmal Ornamented Buildings Chichen Itza Archaeological
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  • Page 23 Advertisements
    • 314 23 APAN iixy in Kyushu siiSS ••••is WM WP «fl* ?i!iil ilm L. n"Ffi cat?* >■ l 'x'Sfe I l?3* V i s")l» %r r ebl. Jn M’mnuvwniM,. 4 f; fcfc 11 If there is one luxury train ride that you must experience in your lifetime, then it must be the
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  • TRANSPORT
    • 366 24  -  Facilities such as lounges, cinemas, swimming pool, rest areas clinch award for best leisure amenities B y Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore CHANGI Airport has been voted the World’s Best Airport by air travellers for the fourth year in a row and
      366 words
    • 895 24 BLOOMBERG London WHEN a Fastjet plc plane flew from Tanzanian business hub Dar es Salaam to Mwanza on Lake Victoria in Nov 29, 2012, chief executive officer Ed Winter lauded the service as heralding the start of low-cost travel
      BLOOMBERG  -  895 words
  • Page 24 Advertisements
    • 217 24 ST DBS 2016 YOUR rrw TO A SUCCESSFUL CAREER WHY ATTEND STJobs Express 2016? 6 6 A 6 P 4° Find out more about the wide array of jobs and internships on offer Come face-to-face with employers from the public and private sectors and learn more about their organisations Consult
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  • REAL ESTATE
  • Page 25 Advertisements
    • 55 25 FULL-DAY WORKSHOPS 201 6 MARCH SERIES M A R 1 6 30WEDNESDAY SPH News Centre 9.30am to 6.00pm SURVIVING AND THRIVING CORPORATE STORMS Trainer Suganthi Shivkumar Early Bird by 25 Mar$489 Price From 26 Mar$589 Productivity and Innovation Credit (PIC) Claimable To register or find out more about our workshops,
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    • 35 25 WINNING HEARTS Pakistani import Fawad Khan is cementing his position in Bollywood S’POREAN ON FORBES LIST COUNTS PARENTS AS ROLE MODELS GET YOUR COPY TODAY TO ADVERTISE: CALL SHAN (*****861) KALWANT (*****327) OR NISHAL (*****438)
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    • 30 25 m a* .1ANHE ZAOBAO H Astory about a box that holds big dreams for a little country Now available in Chinese Now on sale at all major bookstores and www.stpressbooks.com.sg
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    • 17 25 y www.omy.sg j i I r c 0 S■v 3 i 1 M i SCAN&READ more blogs.omy.sg
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  • Page 26 Advertisements
    • 299 26 D10 HOUSE FOR SALE FERNHILL COLLECTION Open House, Tea Party 19 20 March 2-6pm. 4 Semi-Ds. GCB enclave. TOP 3storey+ basement, pool lift. 4/5 ensuites. Land 2160-2611sf Built 4915-5802sf. Doreen Thang *****667 D10 HOUSE FOR SALE GREENLEAF DRIVE Semi-d 3865/3200 sf. 2-sty. 3-bdrm. Cosy/ serene. Garden. Very serious seller. Andrew
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    • 316 26 D10 APARTMENT FOR SALE ROBIN RESIDENCES Ready for Occupation soon! F’hold, Mins walk to Stevens MRT. Excellent layout. 1Km to SCGS, ACS. Studio-5 rm $1.024m up! View actual showsuite unit (appt). CBRE Ritzy Fang 9068 8118 D10 APARTMENT FOR SALE Dennis Tan 9669 4282 WING ON LIFE GARDEN Freehold. 3305
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    • 306 26 D10 APARTMENT FOR RENT THE OLIV 4+1 bdrm Duplex 3337/ 4467 sf; Penthouse 5339/ 6125 sf. 6m ceiling. Nice sky garden. Owner 8101 6699/ 9144 0027 D11 APARTMENT FOR RENT MULBERRY TREE CONDO 167 Moulmein Rd, S*****2. Penthouse 1270sf. F/furn, 2 rms duplex. Very near Novena MRT, Shpg Ctrs Tan
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    • 251 26 D14 OFFICE FOR RENT 29 PAYA LEBAR ROAD S.*****5 2 blks of self-contained Paya Lebar office ctr. 11,000sf with big car pk. Single/multi tenant. Opp MRT Stn shpg ctr YKI 6848 4666 (24 hrs) www.yin-khing.com D14 OFFICE FOR RENT ONE SIMS LANE BUILDING No. 1 Sims Lane, S*****5. B1 Office/
      251 words

  • VEHICLE & LIFESTYLE
    • 860 27  -  By Lucy Kellaway THE FINANCIAL TIMES When Mr Ray Tomlinson, the man credited with the invention of e-mail, died 10 days ago, all sorts of people saw it as an excuse to complain about how his creation has messed up our office
      THE FINANCIAL TIMES; Photo: Thinkstock  -  860 words
  • Page 27 Advertisements
    • 82 27 Call Toll-free 1800-289-9988 To Place Your Classified Advertisements CLASSIFIED AUDI FOR SALE AUDI A3 $119,800. Brand New Audi A3. Price include COE. Rebate@ $40K. Ready delivery. Warranty 3 years/ 100,000km. Please call *****711 AUTOMOTIVE DIRECT HONDA FOR SALE VEZEL X MODEL Various Packages Colours. Guaranteed bid to 6 bids. In-house
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    • 50 27 LAND ROVER FOR SALE LAND ROVER DEFENDER 90/110 VINCAR NEW Land Rover Defender 90/110 Hardtop. 20% deposit. Mthly fr $1,561 x 96. Call *****119 *****119 MERCEDES FOR SALE MERCEDES BENZ GLA180 $139,800 Brand New GLA180 Guarantee COE. Immediate delivery. COE rebate $40K. Depreciate $12K+ pa. Please call *****711 Automotive Direct
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    • 59 27 MINI FOR SALE MINI COOPER S Sell $*****0 Only! 2014 Mini COOPER S white 1 owner. VICOM Evaluated. Call HP 8323-5420 Yong Lee Seng Motor Pte Ltd TOYOTA FOR SALE ALMOST 2010 PREVIA 2.4 2 owner 7-seater. OMV $*****. Selling $88,800. Roof Mount LCD Monitor/ DVD player. OMV $35,783. Please
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    • 47 27 ITEMS WANTED Highest offer for Old/ New Liquor wanted Martel/ XO/ Hennessy etc/ Korean Ginseng/ used Spoilt Elect items. Call now! *****092 PETS PET CARE KOI FARM Nippon Koi Farm Biggest, Cheapest And Largest in Singapore! No 51 Jln Lekar Tel 6763 1882 or visit website: www.nipponkoifarm.com
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  • OPINION
    • 604 28 EDITORIAL WHEN the US Federal Reserve raised its Fed Funds rate by 25 basis points last December, the expectations were four further rate hikes over the course of 2016. After the meeting of the Federal Open Market
      604 words
    • 656 28  -  THE BOTTOM LINE By Ben Shenglin T The writer is professor of banking finance, dean of Academy of Internet Finance, Zhejiang University, and executive director, international Monetary institute, Renmin University of China, in Beijing. BRITAIN has done a wonderful job
      656 words
    • 1073 28  -  It is only a matter of time before algorithms start to augment a professor’s research, taking it into realms previously unimaginable in academia. BY CHRIS HOWELLS academia.BY CHRIS HOWELLS T The writer is managing editor of INSEAD Knowledge, the management portal of insead ACADEMICS
      PHOTO: FREEIMAGES  -  1,073 words
    • 861 29  -  COMMENTARY By Loh Hean Ho, Ernest Saudjana T The writers are partners and managing directors at Boston Consulting Group TODAY in Singapore, there are strong indications that people are ready for digital banks. Despite a population of only 5.5 million, Singapore
      861 words
    • 873 29  -  COMMENTARY By Anthony Rowley CENTRAL bankers have been having such fun playing games of ZIRP (zero interest rate policy) and NIRP (negative interest rate policy) in which there appear to be no rules other than to outsmart the opponent that
      873 words
    • 1071 29  -  His inconsistent positions pose immense economic dangers at home and abroad. abroad.BY HARISH MEHTA T The writer is a historian who has taught at Canadian universities. This article is part of a series on US foreign relations. THE rising chorus of criticism of
      PHOTO: AFP  -  1,071 words


  • Page 30 Advertisements
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  • Page 31 Advertisements
    • 659 31 Cuisine of Masterchef Alexandre Gauthier SALON GOURMET In partnership with HSBC^ EUROPEAN <&<£) SIGNATURES Enjoy a gastronomic celebration of the finest European cuisine as the second edition of Salon Gourmet presents Michelin-rated International Guest Chef promotion and exclusive gourmet dining events. SALON GOURMET EVENTS UT’; -7 ■i 'VY A 'S'A
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  • CITY LIFE
    • Article, Illustration
      981 32  -  Ann Goh’s love of playthings grows into a booming Simply Toys business with three outlets in major malls. BY AVANTI NIM BY AVANTI NIM avantin@sph.com.sg TO a collector, toys are more than just playthings. Some local collectors have been adding to their private collection for decades resulting in
      PHOTOS: SIMPLY TOYS; PHOTO: CAPITALAND MALLS  -  981 words
    • CITY BUZZ BT writers' picks of what to see, do or talk about
      • Article, Illustration
        137 32  -  THEATRE By Helmi Yusof OPHELIA will always be remembered as Shakespeare’s tragic young character who goes mad and accidentally drowns in a brook after Hamlet spurns her. Now experimental theatre director Natalie Hennedige, one of the most exciting practitioners in Singapore, has turned her attention to the heroine to
        137 words
      • 267 32  -  By Tay Suan Chiang DINING Four Hands Dinner with Hideaki Sato AWARD-WINNING restaurant Bacchanalia will be hosting a four-hands dinner, this time with Hideaki Sato, the chef patron of Michelin-starred Hong Kong restaurant, Ta Vie. Chef Sato will be cooking alongside Bacchanalia’s head chef Ivan Brehm.
        PHOTOS: TA VIE  -  267 words
      • 197 32  -  RECREATION By Cheah Ui-Hoon FITNESS enthusiasts can look forward to free workout sessions every Tuesday from 6.30pm-7.30pm and 7.30pm-8.30pm at Clifford Square, Fullerton Bay. The sessions are brought to the public by US sportswear label Under Armour in partnership with wellness collective Urban
        197 words
      • 182 32  -  EXHIBITION By Tay Suan Chiang ILLUSTRATOR Lee Xin Li has made a name for himself with his digital paintings of Singapore in his signature nostalgic style. Lee’s inspiration arises from his memories of growing up in Singapore coupled with his overseas travel experiences, which
        PHOTO: LEE XIN LI  -  182 words
      • 145 32  -  CONCERT By Dylan Tan SINGER-SONGWRITER Druv Kent pays it forward this weekend by letting the winners of his Battle of the Bands competition open his gig this Saturday. The Sin g a pore-based ex-banker released his debut album About Time last year and his ra-dio-friendly brand of
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  • WINE/MUSIC
    • 1043 33  -  Too caught up with the quest for the Holy Grail in Burgundy, I have overlooked rare gems such as Syrah Leone and Montecarrubo.BY NK YONG WINE gems Montecarrubo.BY NK YONG ENGLAND’S much revered wine writer Harry Waugh once said: “You must taste every wine, you
      PHOTOS: BLOOMBERG, NK YONG  -  1,043 words
    • 729 33  -  MUSIC By Dylan Tan dylantan@sph.com.sg @DylanTanSYBT WHEN the haze last year lingered longer than usual, the choking heat among other things fired up The Observatory to react to it. The results can be heard in the local indie band’s latest work August
      BAND PHOTO: PHILIPP ALDRUP  -  729 words
  • Page 33 Miscellaneous
    • 333 33 CRYPTIC CROSSWORD Across 1 Argue about details of parish list to be circulated (5,5) 6 Nibbled, accepting a lure (4) 9 Lack of sense in position that’s open (7) 10 Plan to reduce lighting around site of Taj Mahal (7) 12 Aunt Sally’s cattle with a sense of humour (8,5)
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  • ARTS
    • 786 34  -  Singapore’s flagship art fair expands southwards to tap the region’s biggest, most lucrative art scene. BY HELMI YUSOF BY HELMI YUSOF helmi@sph.com.sg @HelmiBT IT’S official: Art Stage Singapore announced on Thursday in Jakarta that it is expanding Singapore’s premier art fair into Indonesia. From
      FILE PHOTOS  -  786 words
    • 543 34  -  By Helmi Yusof helmi@sph.com.sg @HelmiBT ART BASEL Hong Kong (ABHK), which opens its doors next week, will see the Hong Kong debut of Tay Bak Chiang and his trademark paintings of rocks and boulders. Tay, whose luminous canvas- es often appear to
      PHOTO: ARRONTEO.COM, FILE  -  543 words
    • 1125 34  -  The first death anniversary of Singapore’s first prime minister has again sparked the imaginations of artists and one group of walking guides. BY CHEAH UI-HOON BY CHEAH UI-HOON uihoon@sph.com.sg WITH the first anniversary of Lee Kuan Yew’s coming up on March 23, a couple
      PHOTOS: TENG JEE HUM, SHARLENE LEONG, TRIBE  -  1,125 words

  • CINEMA
    • 948 35  -  Two indie documentaries look at the art of copying sometimes wholesale in cinema. cinema.BY DYLAN TAN dylantan@sph.com.sg @DylanTanSYBT IF done for the right reasons, there is no shame in copying as two upcoming documentaries explore this cinematic “crime”. Remake, Remix, Rip-Off looks at how Turkish cinema “borrowed”
      948 words
    • 645 35  -  By Geoffrey Eu TWO journalism-themed thrillers in quick succession isn’t exactly crowding the field in this particular sub-gen-re, but serious fact-based procedurals about journalists in search of the truth and nothing but the truth was always going to be about quality rather than quantity. Truth arrives
      PHOTO: SHAW ORGANISATION  -  645 words
    • 545 35  -  By Geoffrey Eu IF the words “gritty crime thriller” send a shiver of anticipation up your spine whenever you’re in a movie-go-ing mood then Triple 9 a film directed by John Hillcoat and written by Matt Cook about the (mis)fortunes of a gang of corrupt cops
      PHOTO: CATHAY-KERIS FILMS  -  545 words

  • BT Lifestyle
    • 1771 36  -  A new festival at the Esplanade celebrates all that’s old and enduring, or new and hip, in Japanese culture. BY HELMI YUSOF culture.BY HELMI YUSOF ‘Dialogue with gravity” in butoh BY now, butoh dance company Sankai Juku has performed in 700 cities in 45 countries
      FILE PHOTO; PHOTO: SILHOUETTE THEATRE TSUNOBUE; PHOTO:SUNTORY HALL; PHOTO: SANKAI JUKU  -  1,771 words
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