The Business Times, 23 April 2016

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Microfilm: NL33830
Total Pages: 40
1 32 The Business Times
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      51 1 STREET FOOD RENAISSANCE World Street Food Congress and preservation of traditions DINING Global bazaar L6-7 SHOPPING No financial stress over bridal dress L8-9 L2-4 HOME GARDEN Need for speed L10-11 PHOTOS: SHARON CHEAH STYLE Gem of a history L12 MOTORING Jaguar F-Pace L15 GOLF Stay and play for the hols
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  • BT Living
    • DINING
      • Article, Illustration
        Lock icon Street food renaissance
        2952 2 / 3  -  The third World Street Food Congress the first to be held outside Singapore turned Metro Manila into a throbbing multi-cultural food paradise while a two-day dialogue put the spotlight on how countries are taking on the challenges of preserving their street food traditions. By Cheah Ui-Hoon By
        ALL PHOTOS: CHEAH UI-HOON  -  2,952 words
      • Article, Illustration
        Lock icon Flocking to the food
        393 4  -  By Cheah Ui-Hoon WHAT’S a World Street Food Congress (WSFC) without the food? The promise of the good and yummy served by 25 food vendors from Manila, around the Philippines and the world has been drawing thousands to the WSFC jamboree at Federacion Drive in Bonifacio
        393 words
      • Article, Illustration
        Lock icon The minimalist cuisinier
        968 5  -  Michelin-starred chef Pascal Barbot doesn’t like to mess with the taste of his ingredients. By Tay Suan Chiang guest chef By Tay Suan Chiang taysc@sph.com.sg @TaySuanChiangBT ASK Pascal Barbot how he stays at the top of his game in the competitive fine dining scene and the Michelin-starred
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      • Article, Illustration
        Lock icon Simple and sublime
        502 5 Steamed toothfish with leeks, white miso and brown butter (serves six) Ingredients 500ml of pure water (use filtered or Volvic) 1 sheet of kombu 10g of grated bonito 1 teaspoon yuzu or tangerine zest 1 teaspoon sliced ginger 1 tablespoon soy sauce 1 tablespoon three-year-old mirin 6
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      • Article, Illustration
        Lock icon GLOBAL BAZAAR
        1311 6 / 7  -  Food Hotel Asia 2016 is literally a taste of things to come. BT Weekend checks out over 3,100 exhibitors from 71 countries to sniff out gourmet finds and quirky treats. By Rachel Loi, Tan Teck Heng rachloi@sph.com.sg @RachelLoiBT thtan@sph.com.sg ORGANIC AUSTRALIA AUSTRALIA’S food industry is well known for
        PHOTO: YEN MENG JIIN  -  1,311 words
    • SHOPPING
      • Article, Illustration
        Lock icon No financial stress over bridal dress
        1228 8 / 9  -  With paying off the mortgage or spending on a fab honeymoon given a higher priority, the modern bride eschews frou frou gowns for purse-friendly options bought off the rack or even online. By May Yip By May Yip ONCE upon a time, it was
        1,228 words
    • HOME & GARDEN
      • Article, Illustration
        Lock icon Need for speed
        1363 10 / 11  -  Businessman Spencer Ong likes collecting cars and racing, so his home designer meets his request for a porch big enough for 7-8 cars, while delivering a couple of design awards as well. By Tay Suan Chiang personal space By Tay Suan Chiang taysc@sph.com.sg @TaySuanChiangBT WHEN it comes
        PHOTOS: YEN MENG JIIN, RENAISSANCE PLANNERS & DESIGNERS  -  1,363 words
    • STYLE
      • Article, Illustration
        Lock icon Gem of a history
        717 12  -  An exhibition of Van Cleef Arpels jewellery pieces offers a gateway into the lives of wealthy women over a century. By Helmi Yusof helmi@sph.com.sg @HelmiBT CATE all-black Blanchett, Australian actress A-lister, and Hollywood A-lister, graced the Friday preview of Van Cleef Arpels’ exhibition of over 400
        PHOTO: HELMI YUSOF  -  717 words
    • WATCHES
      • Article, Illustration
        Lock icon Home away from home
        796 13  -  Audemars Piguet’s flagship boutique at Liat Towers is the brand’s big investment in a region that is one of its largest point of sales in the world. By Dylan Tan By Dylan Tan dylantan@sph.com.sg @DylanTanSYBT IT may be challenging times for high-end watch makers as the
        796 words
    • MOTORING
      • Article, Illustration
        Lock icon SPORTY SPACE
        502 14  -  The Suzuki Ciaz RS is a small sedan that is sporty and spacious. By Samuel Ee samuelee@ sph.com.sg ANYTHING labelled an “eco car” may immediately conjure images of a small and slow budget model but thankfully, the Suzuki Ciaz RS doesn’t quite fit into that mould. The Ciaz
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      • Article, Illustration
        Lock icon Setting the pace
        612 15  -  The Jaguar F-Pace raises the crossover bar with its performance, comfort and useability. By Samuel Ee samuelee@sph.com.sg FAR from a case of better late than never, the Jaguar F-Pace is about being late but better. Jaguar’s first sport-utility vehicle, or performance crossover as the British luxury carmaker
        612 words
    • GOLF
      • Article, Illustration
        Lock icon Stay and play for the hols
        1077 16  -  With school holidays starting at the end of next month, BT Weekend takes a look at nearby resorts that are ideal for a family golf getaway. By Justine Moss By Justine Moss Nirwana Bali Golf Club Z+62 361 815 960 golfreservation@panpacific.com www.nirwanabaligolf.com ONE of
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  • Title Section
    Lock icon Masthead
    14 1 weekend THE BUSINESS TIMES www.b sinesstime .com.sg APRIL 23-24, 2016 S$1.20| MCI (P) 040/08/2015
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  • Article
    Lock icon Singapore charges ex-banker
    55 1 MONEY LAUNDERING SINGAPORE authorities have charged Yeo Jiawei, a former wealth planner at the Singapore arm of Swiss private bank BSI SA, with money laundering, people familiar with the case said. The charges made no mention of 1MDB but stemmed from a probe into the fund’s money
    55 words
  • Article, Illustration
    Lock icon Private home prices in muted fall: URA index
    1080 1  -  This lends credence to the government’s decision to hold off on lifting the cooling measures By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore THE latest government stats show that the official private home price index has eased 9.1 per cent over 10 consecutive quarters
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  • Article
    Lock icon Further falls as vacancies rise
    65 1 RETAIL RENTS RENTALS of retail space in Singapore fell 1.9 per cent in the first quarter, a steeper decline than the 1.3 per cent dip in the previous quarter, said the URA. The island-wide vacancy rate crept up to 7.3 per cent at the end
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  • Article
    Lock icon Chairman’s fees in the spotlight
    43 1 OCBC THE S$2 million salary of OCBC’s chairman was scrutinised at the bank’s annual general meeting on Friday as one shareholder pressed the board on why its chairman was paid the most among the three local banks. 16
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  • Article
    Lock icon MAS, CAD raids leave market guessing
    345 1  -  By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore TRADING floors came alive with speculation on Friday about which stocks were involved in an investigation that led to police raids of broking firms on Wednesday, but the absence of any firm information kept traders from pulling any
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  • TOP STORIES
    • Article, Illustration
      Lock icon CONTENTS
      57 2 NEWS Top Stories 2-8 Raffles Conversation 10-11 Companies Markets 12-16 Real Estate 17-18 Banking Finance 19 Energy Commodities 20 Technology 21 Consumer 22 Transport 23 Govt Economy 24-25 Opinion 26-27 Wealth 28-30 Life Culture 31 LIVING Dining L2-4 Guest Chef L5 Dining L6-7 Shopping L8-9 Home Garden L10-11 Style
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    • Article
      Lock icon S’pore charges ex-banker with money laundering
      597 2 Sources say the charges laid before ex-BSI SA employee stem from the local probe into the money flows of 1MDB Bloomberg Singapore SINGAPORE authorities have charged a former private banker with money laundering, following their probe into an embattled Malaysian state investment fund, people
      Bloomberg  -  597 words
    • Article
      Lock icon SDP to launch social programme in Bukit Batok if Chee wins
      549 2  -  ‘We Are One, We Are Bukit Batok’ aims to build a well-run town with strong community BUKIT BATOK BY-ELECTION By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT @LeeUwenBT Singapore THE Singapore Democratic Party (SDP) will launch a programme to dispense financial and
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    • Article
      Lock icon MARKETS
      136 2 HSTI 2,940.43 (-20.35) HSTI FUTURES 2,919.00 (-17.00) HSIMSCI 331.67 (-2.53) HSIMSCI FUTURES 329.45 (-2.35) STOCKS Friday Change KL COMP 1,717.96 -3.51 NIKKEI 225 17,572.49 +208.87 HANG SENG 21,467.04 -155.21 SET 1,410.81 -13.09 JAKARTA 4,914.74 +11.65 MANILA 7,255.39 -2.46 KOSPI 2,015.49 -6.61 SHENZHEN B 1,128.89 +8.95 MUMBAI 25,838.14 -42.24 11.45
      136 words
    • Article, Illustration
      Lock icon Retail rents fall further as vacancies creep up
      593 3  -  URA’s latest data shows retail rents falling 1.9% in Q1, while the vacancy rate inched up to 7.3% on weaker demand and greater supply By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore RENTALS of retail space in Singapore fell 1.9 per cent in Q1,
      Source: URA  -  593 words
    • Article
      Lock icon Comprehensive cover offered for older cars by most insurers
      618 6  -  Some owners of older cars complain that they need to resort to third-party policies By Samuel Ee samuelee@sph.com.sg Singapore IT MAY sometimes be on a case-by-case basis but comprehensive insurance cover for cars over 10 years of age is generally available,
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    • Article
      Lock icon Premiums not always higher for older cars
      435 6  -  By Samuel Ee samuelee@sph.com.sg Singapore NOT all insurers charge a higher premium when a car crosses the 10-year mark. MSIG is one of them, and its motor insurance premium for a nine- and 10-year-old Toyota Corolla Altis is “the same, at over S$1,000
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    • Article, Illustration
      Lock icon Changi Airport Group conducting new security screening technology trials
      534 6  -  By Tan Effie taneffie@sph.com.sg Singapore CHANGI Airport Group (CAG) is conducting two-month trials on new security screening technologies which include an enhanced body-scanning machine that uses millimetre wave technology to detect both metallic and non-me-tallic items. This is an improvement over
      FILE PHOTO  -  534 words
    • Article, Illustration
      Lock icon Much abrew at Owl
      640 7  -  Six-decade-old coffee firm is still reinventing itself to meet demand By Renald Yeo yrenald@sph.com.sg Singapore HOMEGROWN coffee firm Owl International, which marked its 60th anniversary last week, has quite a bit of history to look back on. It had started out as Sin Hup Huat in
      FILE PHOTO  -  640 words
    • Article, Illustration
      Lock icon Goodwood Park bakery suspended
      354 7  -  By Grace So graceso@sph.com.sg Singapore GOODWOOD Park Hotel’s bakery, famous for its durian puffs, has been suspended by the National Environment Agency (NEA) after 76 cases of food poisoning in relation to its durian pastries were reported in the past month. The NEA, Ministry of Health
      FILE PHOTO  -  354 words
    • Article
      Lock icon Banking & finance body rolls out revised standards for financial planners
      420 7  - Banking finance body rolls out revised standards for financial planners By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore AS PART of a wider move to inject uniformity and greater professionalism into the financial advisory industry, the Institute of Banking and Finance Singapore (IBF) has rolled out a revised set of competency standards
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    • Article, Illustration
      Lock icon Leadership lessons from the edge
      1077 8  -  Rachael Robertson says “Antarctica is one of the world’s toughest workplaces” after spending a year there CUBICLE FILES By Vivien Shiao vshiao@sph.com.sg @VivienShiaoBT Singapore LEADERSHIP is never an easy task, but few environments are harsher than what Rachael Robertson experienced as a station leader in
      PHOTOS: RACHAEL ROBERTSON PTY LTD  -  1,077 words
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      40 3 ONG RADIO Live the Ultimate.™ 131 Smart home controls Private home theaters Superlative audio systems Multi-zone AV systems 176 Orchard Road,The Centrepoint 03-41 Singapore *****3 Tel: 65-*****138 URLongradio.com Mon Wed 12 7pm Thu Sat 12 8pm Sun PH By appointment
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      598 4/5 MDIS the oldest not-for-profit w professional institute fVlPIS CAIVUM]^ jL II II Our Milestones SINCE 1956 An Era of Early Industrialisation The Supervisory and Management Training Association of Singapore (SAMTAS) was formed to meet the growing manpower needs of the nation's fledging workforce. SAMTAS focused on training supervisors on subjects
      598 words
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      301 9 PROPERTY MINA SHO The hot-selling Property Seminar by SPH Digital is back again! Limited Seats ll s^h3^icit/\i_ www.sphdigital.com Grab your tickets now i 2016 E M "3 OUR "X f SEMINAR FOR A f CHANCE TO WIN PRIZES WORTH UP TO $1,100!* IRA WIN 1 i in l i k
      301 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Tipping his hat to the open source model
      2901 10/11  -  Red Hat CEO Jim Whitehurst sees the movement creating the biggest change in society since the industrial revolution. By Amit Roy Choudhury By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT JIM Whitehurst’s relaxed demeanour belies the fact that he earned his chops in the
      PHOTO: ARTHUR LEE  -  2,901 words
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Oil and Wall St volatility set the pace this week
      721 12  -  STOCKS R Sivanithy sivan@sph.com.sg @RSivanithyBT Senior Correspondent AN unanticipated drop on Wall Street on Thursday brought a halt to the upward march of the Straits Times Index (STI) on Friday. The index lost 20.35 points to end at 2,940.43, after
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    • Corporate digest
      • Article
        Lock icon Sembcorp Marine
        135 12 SEMBCORP Marine has been informed by Sete Brasil that its shareholders had on April 20 approved a resolution for Sete Brasil to file for a judicial recovery. The firm said it has commenced arbitrary proceedings against various subsidiaries of Sete Brasil to preserve its interests under the contracts;
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      • Article
        Lock icon Starhill Global Reit
        121 12 STARHILL Global Reit’s distribution per unit for the third quarter ended March 2016 came in at 1.26 Singapore cents, the same as a year back. On an annualised basis, DPU stood at 5.07 Singapore cents, lower than the previous quarter’s 5.11 Singapore cents. Revenue grew 12 per
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    • Article
      Lock icon TWG, its founder lose court case against OSIM
      342 12  -  Claims of oppressive conduct and conspiracy to injure dismissed By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore OSIM International scored big in a two-year-long legal battle on Friday after the Singapore High Court dismissed all claims against the firm by The Wellness Group (TWG)
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    • Article, Illustration
      Lock icon FCT posts 2.6% rise in second-quarter DPU
      732 13  -  It reports overall growth in tenant sales and shopper traffic for its malls but warns of headwinds By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore RETAIL landlord Frasers Centrepoint Trust (FCT) warned of headwinds in the retail scene even as it reported on Friday a
      FILE PHOTO  -  732 words
    • Article
      Lock icon Cache Logistics Trust’s DPU for first quarter down 5%
      412 13  -  Dip is primarily due to an enlarged units base By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore CACHE Logistics Trust posted a distribution per unit (DPU) of 2.039 Singapore cents for the first quarter ended March, down 5 per cent from a year
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    • Article
      Lock icon STI STOCKS
      321 14 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 250 -2 252/248 271 209 5.8 6571.1 CapitaCom Trust 148 +1.5 149/145 173.5 122.5 5.8 4373.9 CapitaLand 320 cd -1 323/318 379 267 12.8 2.8 *****.6 CapitaMall Trust 208 xd -4 212/207
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    • Article
      Lock icon SGX ETFs Most Active
      107 14 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap Nikko AM STI ETF 301 407 301/300 360/259 299/301 7.3 STI ETF 294 -2 357 296/294 354/254 294/295 DBXT MSPHILS US$ US196 -2.3 162 197.4/195.5 227.4/158.5 195.2/196 15.7 CIMBASEAN40 US$ US850 +13 157 852/850 1019/700 850/861
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    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      781 14 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Apr 18 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) VGO Corp 20-Apr-16 Goh Chng Huat Buy 60 0.07 5794 6.27 5854 6.34 VGO Corp 20-Apr-16 Goh
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 14 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 2 8 3 0 1 0 2 9 3 Manufacturing 36 34 26 9 8 14 45 42 40 Commerce 21 15 13 4 7 2 25 22 15 Tpt/Stor/Comms 11 11 11
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 14 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 17,704 989 18,693 74,077 226 74,303 Manufacturing 93,652 160,463 254,115 82,866 15,455 98,321 Commerce 62,797 37,818 100,615 91,087 766 91,853 Tpt/Stor/Comms 114,098 150 114,248 183,367 12 183,379 Finance 15,065 98 15,163 148,091 13 148,104 Construction
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 14 Apr 22 VALUE CLOSE BT OB/OS 193.00 -86.00 BT CADI -*****.00 -51.00 BT 10-day MA -*****.00 +19.00 FTSE ST Mid Cap 707.21 -0.74 FTSE ST Small Cap 401.37 -1.40 FTSE ST All Share 718.03 -4.85 FTSE ST China Top 169.18 -0.52 FTSE ST China 200.77 -0.49 FTSE
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    • Article
      Lock icon UNUSUAL ACTIVITY
      79 14 VOL CLOSE($) CHANGE PterisGlobal 9,098.1 0.755 +0.120 +18.90 Fuji Offset 6.2 0.210 -0.050 -19.23 SingHaiyi 42,895.4 0.134 +0.009 +7.20 Shanghai Turbo 73.5 1.055 +0.085 +8.76 King Wan 244.3 0.190 -0.020 -9.52 ABR 750.5 0.750 +0.050 +7.14 Far East 363.0 0.074 -0.004 -5.13 Annica 67,794.0 0.001 -0.001 -50.00 Albedo
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    • Article
      Lock icon COMMODITY FUTURES
      193 15 Apr-21 Price Net change change Last Trade Agricultural Apr-21 CBOT Soybeans (US cents/bu) 1018.75 9.00 0.89% 13/05/2016 CBOT Soybean Oil (US cents/lb) 34.21 -0.43 -1.24% 13/05/2016 CBOT Wheat (US cents/bu) 495.75 -8.50 -1.69% 13/05/2016 Apr-21 LIFFE Cocoa (£/tonne) 2247.00 15.00 0.67% 13/05/2016 LIFFE Coffee (US$/tonne) 1534.00 -13.00 -0.84%
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    • Article
      Lock icon PALM OIL
      60 15 Apr 22 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 16 2698.0 2677.0 2704.0 2670.0 284 6202 Jun 16 2720.0 2693.0 2725.0 2687.0 4622 ***** Jul 16 2718.0 2690.0 2725.0 2686.0 ***** ***** Aug 16 2700.0 2669.0
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    • Article
      Lock icon GOVERNMENT SECURITIES
      67 15 Apr 22 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0T 0.500 01-Apr-18 99.01 5-Year NX*****X 2.250 01-Jun-21 102.79 102.95 102.68 10-Year NX*****Z 2.375 01-Jun-25 103.22 103.45 103.15 15-Year NZ*****F 2.875 01-Sep-30 106.13 106.40 106.15 20-Year NZ*****V 3.375 01-Sep-33 113.07 112.90 112.90
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 15 Apr 22 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0455 1.0461 0.7741 0.7743 Canadian dollar 1.0604 1.0610 0.7854 0.7851 Euro 1.5229 1.5239 1.1276 1.1280 NZ dollar 0.9293 0.9302 0.6881 0.6885 Sterling pound 1.9360 1.9368 1.4334 1.4336
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    • Article, Illustration
      Lock icon Straits Times Index
      5 15 Source: Bloomberg
      Source: Bloomberg  -  5 words
    • Article
      Lock icon BONDS, WARRANTS, PREFERENCE SHARES
      211 15 Most active Apr 22 Prem Expiry Last Vol Conv Exer Disc Gear- Mths Company Sale +or-('000) Ratio Price ing Left China Star Food Group W*****7 7.6 1.5 ***** 1 33 2 5.26 24 OCBC Bk MB eCW*****3 8 -0.5 7403 0.1 900 6 Rowsley Ltd W*****3
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    • Article
      Lock icon MORGAN STANLEY CAPITAL INT’L INDICES
      377 15 In local curr In S$ In US$ dy yr dy yr dy yr Apr 21 Index Change Change Change Change Change Change World Preliminary 1278.9 0.1 0.1 0.4 -3.2 -0.1 1.9 EAFE Preliminary 975.1 0.5 -3.8 0.6 -5.0 0.1 0.0 Europe Preliminary 1383.2 -0.3 -2.1
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    • Article, Illustration
      Lock icon STOCK MARKETS
      10 15 Source: Bloomberg Source: Bloomberg Source: Bloomberg Source: Bloomberg
      Source: Bloomberg  -  10 words
    • Article, Illustration
      Lock icon OCBC chairman fees in the spotlight
      417 16  -  Bank calls S$2m salary appropriate for Ooi’s responsibilities and time AGM WATCH By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THE S$2 million salary of OCBC’s chairman was scrutinised at the bank’s annual general meeting on Friday, as one shareholder pressed the board on why its
      PHOTO: BLOOMBERG  -  417 words
    • Article
      Lock icon Bahrain bank’s appeal against Boustead gets thrown out
      381 16  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT @MelissaTanBT Singapore THE Singapore High Court has dismissed an appeal by a Bahrain bank, Arab Banking Corporation, against engineering firm Boustead Singapore, Boustead said in a Singapore Exchange (SGX) filing on Friday. It added that the Court
      381 words
    • Article
      Lock icon Abterra auditors highlight concerns
      570 16  -  It issues qualified opinion on group’s financial statement By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore AUDITORS of Abterra Ltd have issued a qualified opinion on the financial statement of the minerals and resources group for fiscal 2015 while flagging material differences between the audited and unaudited accounts.
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  • REAL ESTATE
    • Article, Illustration
      Lock icon HDB resale prices in Q1 stay flat
      421 17  -  Property consultants continue to believe that the market is ‘at a new equilibrium’ By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore HDB resale prices dipped 0.1 per cent on a quarter-on-quarter basis in the first quarter of 2016, in line with earlier flash estimates. Property
      421 words
    • Article
      Lock icon Victoria to more than double property tax for foreign buyers
      212 17 Bloomberg Hong Kong THE Australian state of Victoria will more than double a property tax for foreign buyers in a move that may undermine surging home prices in the nation’s sec-ond-largest city. The stamp duty surcharge will increase to 7
      Bloomberg  -  212 words
    • Article, Illustration
      Lock icon Office rental decline accelerates
      554 17  -  Analysts see vacancy rates soaring with more office completions soon By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore THE Urban Redevelopment Authority’s (URA) index for office rentals in Singapore eased 2.1 per cent quarter-on-quarter in the first quarter of this year a steeper drop compared with the 1.8
      FILE PHOTO  -  554 words
    • Article
      Lock icon Househunt
      1228 18 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN MARCH 9 AND MARCH 15, 2016 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LANDAREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED People's Park Cplx Apt 14/03/2016 99 1119 790 706 People's Park Cplx Apt 10/03/2016 99 463
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  • BANKING & FINANCE
    • Article
      Lock icon Days numbered for skewed bank bonuses
      735 19 Ban on practices that reward excessive risk-taking seen striking hardest at staff of firms with over US$250b in assets Bloomberg Washington WALL Street executives would have to wait at least four years to collect most of their bonus pay and could be forced to
      Bloomberg  -  735 words
    • Article, Illustration
      Lock icon Kuroda may once again surprise yen bulls
      552 19 Bloomberg Singapore YEN bulls are at risk from Haruhiko Kuroda’s favourite tactic: surprise. By pushing bets on a stronger currency to the most on record, speculators have left themselves vulnerable should the Bank of Japan governor blindside them with additional stimulus at the
      Bloomberg; PHOTO: REUTERS  -  552 words
  • Page 19 Advertisements
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      Lock icon Page 19 Advertisements Column 1
      350 19 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF PRECENO TECHNOLOGY PTE. LTD. Registration No. *****9712G (In Members’ Voluntary Winding Up) At an Extraordinary General Meeting of the members of the Company held on 20th day of April 2016, the following Special Resolutions were
      350 words
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      Lock icon Page 19 Advertisements Column 2
      427 19 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF DYZLE PTE. LTD. REG. NO.*****2853N (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE OF RESOLUTIONS [Pursuant to Section 290(2)(b)] At an Extraordinary General Meeting of the Company deemed held on 18th April 2016, the following resolutions were duly passed:Itwas
      427 words
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  • ENERGY & COMMODITIES
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  • TECHNOLOGY
    • Article, Illustration
      Lock icon Google parent Alphabet misses Q1 targets for profit, revenue
      571 21 Results marred by rising costs, strong US$ drive shares down 6% Reuters San Francisco GOOGLE’S parent Alphabet Inc missed Wall Street targets for first-quarter profit and revenue on Thursday as it spent more money to build traffic for its mobile advertising
      Reuters; PHOTO: REUTERS  -  571 words
    • Article
      Lock icon FBI paid more than US$1.3m to unlock iPhone
      341 21 Reuters Washington FEDERAL Bureau of Investigation director James Comey said the US agency paid more to get into the iPhone of one of the San Bernardino shooters than he will make in the remaining seven years and four months he has in
      Reuters  -  341 words
    • Article
      Lock icon Microsoft Q3 profit down 25% at US$3.8b
      329 21 AFP San Francisco MICROSOFT reported a 25 per cent plunge in quarterly profits as the company navigated away from its role as a software seller to a services model. Shares in Microsoft, once the world’s largest company, were down 4.3 per cent in
      AFP  -  329 words
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  • CONSUMER
    • Article, Illustration
      Lock icon Dish, Viacom sign deal, averting blackout
      443 22 Viacom shares surge on the news while Dish shares stay flat NYT New York DISH Network wanted its MTV after all. On Thursday morning, Dish, the satellite TV provider, and Viacom announced that they had struck a multi-year agreement for Dish to continue to
      NYT; PHOTO: REUTERS  -  443 words
    • Article, Illustration
      Lock icon SPH iink Awards open for nominations
      357 22  -  By Gladys Yeo gladyeo@sph.com.sg Singapore NOMINATIONS are now open for the 12th annual SPH iink Awards. Organised by Singapore Press Holdings Limited (SPH), the theme for this year’s awards is “Your Name in Lights”, to represent the aim of the awards. The awards recognise
      FILE PHOTO  -  357 words
    • Article, Illustration
      Lock icon Starbucks cafe sales up 6% in second quarter
      432 22 Reuters Los Angeles STARBUCKS Corp posted quarterly cafe sales that missed analysts’ growth estimates for every region where it operates and issued a disappointing full-year forecast, sending its shares down about 4 per cent. The world’s largest coffee chain said that global
      Reuters; PHOTO: REUTERS  -  432 words
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  • TRANSPORT
    • Article, Illustration
      Lock icon More big carmakers caught in headlights of VW scandal
      771 23 VW may set aside over 16b euros to cover possible fines, legal and recall costs AFP Frankfurt MAJOR names in the car industry found themselves caught in the headlights of a global engine-rigging scandal on Friday as the Volkswagen supervisory board
      AFP; PHOTO: AFP  -  771 words
    • Article
      Lock icon Uber to pay US$100m as part of settlement
      289 23 Reuters San Francisco UBER has agreed to pay up to US$100 million to settle a class-action lawsuit which resolves a major challenge to its business model by allowing the ride-hailing service to keep its California and Massachusetts drivers as independent contractors. The
      Reuters  -  289 words
  • Page 23 Advertisements
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      Lock icon Page 23 Advertisements Column 1
      48 23 HOT PROPERTY S'GOON GDN. MODERN S/sty terr 2160/ 1700sf. Newly reno 2 internal airwell, 3-rm Below Val. CHARTWELL DRIVE. 999 years leasehold. Corner detached house.Land 4149 sf. Built-up 1946 sf. $4.1M. Vacant. LANDED PROPERTIES FOR SALE! Check out these properties and more in The Straits Times Classified now!
      48 words
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Asian financial firms wake up to Brexit risks, make contingency plans
      841 24 Hong Kong, Singapore central banks say they’re monitoring developments Reuters Hong Kong THE Hong Kong exchange has begun a Brexit impact assessment, and some Asian asset managers are looking to set up new bases in mainland Europe amid growing
      Reuters; PHOTO: REUTERS  -  841 words
    • Article
      Lock icon China eyes nuclear power platforms for S China Sea: report
      418 24 Reuters Beijing CHINA is getting closer to building maritime nuclear power platforms that could one day to used to support Chinese projects in the disputed South China Sea, a widely-read state-run newspaper said on Friday. China has rattled nerves with
      Reuters  -  418 words
    • Article, Illustration
      Lock icon China grabs biggest share of global exports
      979 25 Rise credited in part to higher-value exports; trading relationships may suffer strain Reuters Shanghai CHINESE exporters have found a silver lining in weak global demand by seizing market share from their competitors good news for China but an expansion that is aggravating trade
      Reuters; PHOTO: AFP  -  979 words
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  • OPINION
    • Article, Illustration
      Lock icon Adjacent innovations: boon or bane for corporates?
      1229 26 / 27  -  Companies must actively disrupt their core and adjacent innovations. By Arcot Desai Narasimhalu By Arcot Desai Narasimhalu ~The writer is professor of information systems (practice) and director of the Institute of Innovation and Entrepreneurship at Singapore Management University. COMPANIES are constantly planning the
      PHOTO: REUTERS  -  1,229 words
    • Article, Illustration
      Lock icon Lessons from the Solar Impulse project
      903 26 / 27  -  The project is to fly a plane around the world without consuming any fossil fuel. By Ulrich Spiesshofer ~The writer is president and chief executive officer of ABB Ltd. In 2014, ABB entered into an innovation and technology alliance with Solar Impulse to support
      PHOTO: REUTERS  -  903 words
  • Page 26 / 27 Miscellaneous
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Equities – the ‘new safe option’ for portfolios?
        1279 28 / 29  - Equities the ‘new safe option’ for portfolios? The biggest long-term risk facing investors who want to preserve or increase their wealth may well be not taking any risks. WEALTH INSIGHTS By Hans-Joerg Naumer ‘NOT taking risks at all is the biggest risk.” This is our motto during these times of
        PHOTO: BLOOMBERG  -  1,279 words
      • Brokers’ take
        • Article
          Lock icon Suntec Real Estate Investment Trust Sell
          241 28 / 29 OCBC Investment Research April 22 April 22 close: S$1.730 Target price: S$1.51 SUNTEC Reit reported Q1 FY16 gross revenue of S$78.3 million, representing an increase of 5.2 per cent on a year-on-year basis. This formed 22.4 per cent of our FY16 forecast. Growth was
          241 words
        • Article
          Lock icon Best World International Add
          360 28 / 29 CIMB Research, April 21 April 22 close: S$0.645 Target price: S$0.97 WE forecast core earnings to grow at 25 per cent compounded annual growth rate (CAGR) over FY15-18 forecast on the back of increased product acceptance in Taiwan and continued export sales in China. Traction in
          360 words
        • Article
          Lock icon OCBC Bank Buy
          150 28 / 29  -  Compiled by Kenneth Lim UOB Kay Hian April 22 April 22 close: S$9.39 Target price: S$10.68 WE are neutral on the acquisition of Barclays WIM Singapore and Hong Kong as valuation is fair but contribution to bottom line is unlikely to be significant. We like OCBC for
          150 words
      • Article, Illustration
        Lock icon Serving up business advice and investments for Asian families
        1069 30  -  Golden Equator offers tailor-made solutions for family businesses to pass on wealth. By Genevieve Cua gen@sph.com.sg @GenCuaBT HOMEGROWN multi-fami-ly office firm Golden Equator Capital has set its sights on services that cater to what it sees as its Asian clients’ desire
        1,069 words
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon When it comes to music, Prince calls the tune
      731 31 The trailblazing and sometimes controversial champion for his rights as an artist leaves living legacy NYT New York MILLIONS of fans will remember Prince as a master of funk, a sex symbol and the creator of indelible hits such as 1999
      NYT; PHOTO: AFP  -  731 words
    • Article
      Lock icon HK expects sharp decline in tour groups from China
      443 31 Reuters Hong Kong HONG KONG expects to welcome about half as many tour groups from China for the May 1 Labour Day holiday as the city’s tourism industry tackles overseas competition and cross-border tensions which may encourage mainland visitors to travel
      Reuters  -  443 words
  • Page 31 Miscellaneous
    • Miscellaneous
      Lock icon Page 31 Miscellaneous Column 1
      317 31 CRYPTIC CROSSWORD Across 1 Shocked seeing part of bag has torn (6) 4 Peeled herb stuffing small pies for tapas (8) 9 Danger which catches engineers (6) 10 Row after French meeting about border (8) 11 Satisfy need initially in criminal depravity (8) 13 Starts to cringe or wince, ending
      317 words
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  • Page 32 Advertisements
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      Lock icon Page 32 Advertisements Column 1
      109 32 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE VALLÉE DE JOUX. FOR MILLENNIA A HARSH, UNYIELDING ENVIRONMENT AND SINCE 1875 THE HOME OF AUDEMARS PIGUET, IN THE VILLAGE OF LE BRASSUS. THE EARLY WATCHMAKERS WERE SHAPED HERE, IN AWE OF THE FORCE OF NATURE YET DRIVEN TO MASTER
      109 words