The Business Times, 2 May 2016
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2016-05-02
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The Business Times
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Title Section19 2016-05-02 1 THE BUSINESS TIMES www. usinesstimes.com.sg MONDAY, MAY 2, 2016 S$1.20 MCI (P) 039/08/2015 SCI A SINGAPORE PRESS HOLDINGS PUBLICATION19 words
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Article35 2016-05-02 1 LIFELONG LEARNING THE labour movement wants to inject up to S$200 million more into its Education and Training Fund to help mid-career working adults pick up new skills at university. 235 words
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Article37 2016-05-02 1 US ECONOMY US stocks are near all-time highs and could hit new heights if jobs data and earnings this week ease fears about the outlook for the American and global economies. 337 words
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32 2016-05-02 1 BUKIT BATOK BY-ELECTION THE contest for Bukit Batok has heated up with opposition candidate Chee Soon Juan rebutting remarks made about his character by the ruling PAP. 432 words
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Article34 2016-05-02 1 CHINA ECONOMY CHINA has rolled out a VAT system across all industries that previously had a business tax, in the most ambitious overhaul of its tax regime in three decades. 734 words
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Article, Illustration912 2016-05-02 1 Lee U-Wen - Jobs in Singapore will also change as economy undergoes major transformation: PM Lee By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore WHILE the industries of the world are changing rapidly as new business models disrupt existing ones, Singapore firms should not stay stagnant and letPHOTO: LIM YAOHUI /THE STRAITS TIMES - 912 words
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Page 1 Advertisements
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Advertisement242 2016-05-02 1 TOPLINE Multi-disciplinary approach works for PR firm 10-11 Life Culture Appreciating migrant workers on Labour Day 36 TUDOR BLACK BAY BRONZE Housed in a case machined from an aluminium bronze alloy, TUDOR in-house movement MT5601 offers a 70-hour power reserve and is certified by the Swiss Official j Chronometer Testing242 words
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Advertisement9 2016-05-02 1 AGM WATCH New ‘normal’ provides food for thought 79 words
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Advertisement7 2016-05-02 1 VIEWS FROM THE TOP Man-machine team-up 16-197 words
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TOP STORIES
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Article, Illustration52 2016-05-02 2 NEWS Top Stories 2-7 Companies Markets 8-13 Real Estate 14-15 Views from the Top 16-19 BT-Citibank Young Investors’ Forum 20-21 Banking Finance 22 Energy Commodities 23 Technology 24 Consumer 25 Govt Economy 26-31 Transport 32-33 Shipping Times 34-35 Life Culture 36 45When hackers took world banking for a ride,52 words
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Article135 2016-05-02 2 HSTI(Friday) 2,838.52 (-23.78) HSTI FUTURES 2,822.00 (-40.00) HSIMSCI 319.27 (-2.37) HSIMSCI FUTURES 317.90 (-4.15) STOCKS Friday Change KL COMP 1,672.72 -2.04 NIKKEI 225 Closed HANG SENG 21,067.05 -320.98 SET 1,404.61 +4.70 JAKARTA 4,838.58 -9.81 MANILA 7,159.29 -3.27 KOSPI 1,994.15 -6.78 SHENZHEN B 1,129.95 +10.92 MUMBAI 25,606.62 +3.52 Friday Change135 words
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Article, Illustration603 2016-05-02 2 Lee U-Wen - A tie-up with NTU will help mid-career workers acquire new skills By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE labour movement in Singapore wants to inject up to S$200 million more into its Education and Training Fund to help mid-career working adults pickPHOTO: KUA CHEE SIONG/THE STRAITS TIMES - 603 words
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Article, Illustration980 2016-05-02 3 Rob Curran - But aggregate earnings for the broad S&P 500 look set to decline for the third straight quarter WALL STREET INSIGHT By Rob Curran LAST week, stocks dropped after big letdowns from the Bank of Japan (BOJ), US data and Apple. Stocks remainPHOTO: BLOOMBERG - 980 words
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Article, Illustration664 2016-05-02 4 Claire Huang - The SDP candidate says the party ‘will not engage in below-the-belt politics’ BUKIT BATOK BY-ELECTION By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore THE contest for Bukit Batok hotted up further on Sunday as the Singapore Democratic Party’s (SDP) candidate, Chee Soon Juan, rebutted remarks madeFILE PHOTO - 664 words
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Article, Illustration509 2016-05-02 4 Virginie Mangin - By Virginie Mangin btworld@sph.com.sg Beijing CHINA’S purchasing managers’ index pointed to further stabilisation of the economy but fell short of analysts’ estimations signalling the current rebound may be fragile. The official PMI came in at 50.1 points, falling 0.1 point compared toPHOTO: REUTERS - 509 words
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Article, Illustration868 2016-05-02 5 Nisha Ramchandani - There are three property launches under Oasia brand this year, in Singapore and KL By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore HOTEL operator Far East Hospitality (FEH), which launches three properties under its Oasia brand this year, is keen on taking Oasia to868 words
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Article, Illustration853 2016-05-02 6 David Mason - Latest impressions of S’pore: outstanding again but Respect on the roads still lacking, and Immigration still needs to improve SOAPBOX By David Mason ~The writer is a business communications consultant in the UK who spends several weeks in Singapore every year. He lived in Singapore for almost 20 years inFILE PHOTO - 853 words
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632 2016-05-02 6 Mano Sabnani - LETTER TO THE EDITOR Mano Sabnani CEO, Rafflesia Holdings Pte Ltd THE issue of what kind of a treat should follow annual general meetings (AGMs) of shareholders of listed companies remains unresolved. In the past, companies would commonly lay out buffet632 words
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Article, Illustration986 2016-05-02 7 Tan Effie - Shareholders must not take what was essentially a form of appreciation by companies to be an obligation now AGM WATCH By Tan Effie taneffie@sph.com.sg Singapore AUSTERITY seems to be the name of the game at the current season’s Annual General Meetings (AGMs),986 words
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358 2016-05-02 7 Reuters Beijing CHINA has rolled out a val-ue-added tax (VAT) system across all industries that previously had a business tax, in the most ambitious overhaul of its tax regime in three decades. The world’s second-largest economy is stumbling through its slowest growth in aReuters - 358 words
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Page 6 Advertisements
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Advertisement10 2016-05-02 6 45New ‘normal’ at AGMs provides food for thought, Page 710 words
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COMPANIES & MARKETS
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Article, Illustration907 2016-05-02 8 Eugene Wong - Open communication is key, with a good balance struck between the two power centres. BOARDROOM MATTERS By Eugene Wong ~The writer is a member of the Governing Council of the Singapore Institute of Directors. IT IS well known throughout the907 words
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Article, Illustration372 2016-05-02 8 Bloomberg Milan ITALY’S government-orchestrat-ed banking rescue fund will buy most of the shares in Banca Popolare di Vicenza SpA’s 1.5 bil-lion-euro (S$2.3 billion) capital increase through an initial public offering after institutional investors showed little interest. Investors offered to buyBloomberg; PHOTO: REUTERS - 372 words
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1394 2016-05-02 9 Claire Huang - 67 of 76 firms that released Q1 results as at Friday posted profits, but combined group earnings are down 11% y-o-y By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore COMPANIES listed on Singapore Exchange (SGX) have put on a fairly decent showing for the1,394 words
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1762 2016-05-02 12 Robert Halili - Trading is mixed with significant trades on both the buying and selling sides INSIDE MARKETS By Robert Halili ~The writer is managing director, Asia Insider Limited THE director activity fell after trading flat for two straight weeks based on filings on Singapore Exchange (SGX)1,762 words
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Article193 2016-05-02 13 Apr-29 Price Net change change Last Trade Agricultural Apr-29 CBOT Soybeans (US cents/bu) 1021.00 3.00 0.29% 13/05/2016 CBOT Soybean Oil (US cents/lb) 32.88 -0.17 -0.51% 13/05/2016 CBOT Wheat (US cents/bu) 478.00 2.50 0.53% 13/05/2016 Apr-29 LIFFE Cocoa (£/tonne) 2313.00 44.00 1.94% 13/05/2016 LIFFE Coffee (US$/tonne) 1556.00 14.00 0.91%193 words
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Article57 2016-05-02 13 Apr 29 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position May 16 2560.0 2572.0 2574.0 2545.0 1071 4570 Jun 16 2570.0 2593.0 2607.0 2570.0 4741 ***** Jul 16 2574.0 2593.0 2609.0 2570.0 ***** ***** Aug 16 2563.0 2582.057 words
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Article69 2016-05-02 13 Apr 29 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 99.03 99.03 5-Year NX*****X 2.250 01-Jun-21 103.13 103.38 103.25 10-Year NX*****Z 2.375 01-Jun-25 103.12 103.38 103.30 15-Year NZ*****F 2.875 01-Sep-30 106.05 106.30 106.27 20-Year NZ*****V 3.375 01-Sep-33 113.0869 words
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Article155 2016-05-02 13 Apr 29 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0256 1.0265 0.7633 0.7638 Canadian dollar 1.0726 1.0731 0.7984 0.7983 Euro 1.5289 1.5297 1.1378 1.1382 NZ dollar 0.9351 0.9358 0.6959 0.6963 Sterling pound 1.9613 1.9622 1.4596 1.4600155 words
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Article, Illustration5 2016-05-02 13 Source: BloombergSource: Bloomberg - 5 words
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209 2016-05-02 13 Most active Apr 29 Prem Expiry Last Vol Conv Exer Disc Gear- Mths Company Sale +or-('000) Ratio Price ing Left STI 2850 MB ePW*****0 6.1 0.3 5225 0.0 2 Ezion Holdings W*****4 16 -2.1 4913 1 50 20 3.44 48 Rowsley Ltd W*****3 0.6 unch 3392209 words
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377 2016-05-02 13 In local curr In S$ In US$ dy yr dy yr dy yr Apr 29 Index Change Change Change Change Change Change World Preliminary 1249.9 -1.1 -2.2 -1.0 -5.1 -0.7 0.1 EAFE Preliminary 948.1 -1.3 -6.4 -0.6 -6.5 -0.3 -1.3 Europe Preliminary 1346.5 -1.9 -4.7377 words
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Article, Illustration10 2016-05-02 13 Source: Bloomberg Source: Bloomberg Source: Bloomberg Source: BloombergSource: Bloomberg - 10 words
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Page 8 Advertisements
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Advertisement6 2016-05-02 8 ~For more articles, go to btd.sg/BMatters6 words
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TOP LINE
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Article, Illustration1819 2016-05-02 10/11 Mindy Tan - The directors at Asia PR Werkz specialise in a wide range of areas ranging from health care and lifestyle to litigation. By Mindy Tan By Mindy Tan tan m i n dy@s p h .co m .sg @MindyTanBT Singapore WHEN most people thinkPHOTO: YEN MENG JIIN - 1,819 words
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Page 10/11 Advertisements
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Advertisement23 2016-05-02 10/11 Brought to you by What’s behind a Nespresso cup? A company that shows its people they really matllr Tjg www.nespresso.com/pro XESPRESSO lAflatx/k- 123 words
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REAL ESTATE
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Article, Illustration749 2016-05-02 14 Administration feels the practice is cutting into a limited property supply and driving up rents AFP Berlin BERLIN from Sunday began restricting private property rentals through Airbnb and similar on-line platforms, threatening hefty fines in a controversial move meant to keep housing affordableAFP; PHOTO: AFP - 749 words
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761 2016-05-02 14 NYT New York APARTMENTS for billionaires were all the rage in Manhattan three years ago when developer Joseph Chetrit paid US$1.1 billion for the granite-sheathed Sony Building at 550 Madison Ave. Mr Chetrit hired star architect Robert Stern to convert theNYT - 761 words
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Article, Illustration1547 2016-05-02 15 The market is better but the revival is deeply uneven, worsening divides and creating fissures WP Stockton EAST of San Francisco, beyond the Bay Area’s rabid housing market and high-tech office parks, is a different California where the air is hotter, the land isWP; PHOTO: THE WASHINGTON POST - 1,547 words
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VIEWS FROM THE TOP
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Article, Illustration5305 2016-05-02 16 this week’s topic: How will robots, drones and other automated devices impact your industry? Albert Phuay Yong Hen Chairman and Group CEO Excelpoint Technology THE electronics and semiconductor industry will see new opportunities with robots, drones, and other automated devices. The numerous applications of these devices in almostPHOTO: REUTERS - 5,305 words
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Page 19 Advertisements
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Advertisement11 2016-05-02 19 The full list of views from CEOs is available at http://businesstimes.com.sg11 words
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BT-CITIBANK YOUNG INVESTORS' FORUM
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Article, Illustration2241 2016-05-02 20/21 A landmark 2013 study by University of Oxford researchers Michael Osborne and Carl Benedikt Frey had highlighted risks to the availability of future low-skilled jobs given technological change. The two researchers were among others who published a 156-page Citi GPS report, “Technology at Work v2.0”,PHOTO: AFP - 2,241 words
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Page 20/21 Advertisements
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Advertisement113 2016-05-02 20/21 GET STARTED NOW Be a young investor DO you aspire to be a successful young investor? Are you keen on taking the first step towards achieving that? The BT-Citibank Young Investors’ Forum is no typical page extracted from a financial textbook. This forum will present step-by-step guides on how to113 words
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BANKING & FINANCE
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Article, Illustration860 2016-05-02 22 Its Q1 net income is slated to have risen 8% although operating profit probably fell 12% Reuters Omaha, Nebraska WARREN Buffett on Saturday defended several of Berkshire Hathaway Inc’s larger or struggling investments, including Coca-Cola and the BNSF railroad. Speaking to tens of thousandsReuters; PHOTO: BLOOMBERG - 860 words
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406 2016-05-02 22 Reuters Hong Kong AMERICAN International Group (AIG) has raised HK$9.68 billion (S$1.68 billion) by selling a large chunk of its stake in China’s PICC Property and Casualty Co (PICC P&C) in a block deal, IFR reported on Sunday. AIG sold aboutReuters - 406 words
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ENERGY & COMMODITIES
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1117 2016-05-02 23 Exxon posts its smallest quarterly profit since 1999 while Chevron reports a large loss NYT Houston THE two mightiest US oil companies don’t look so mighty any more. With oil and natural gas prices at record lows and refining profit margins weakening,NYT - 1,117 words
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Article, Illustration529 2016-05-02 23 Reuters Kitakyushu, Japan INTERNATIONAL Energy Agency (IEA) chief Fatih Birol said on Sunday that oil prices may have bottomed out, provided that the health of the global economy does not pose a concern. Oil prices hit 2016 highs on Friday with Brent crudeReuters - 529 words
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TECHNOLOGY
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912 2016-05-02 24 Computer code rewritten after first version is found to have been worked on by foreigners WP Washington US national security could have been jeopardised when the company building a sensitive phone-number database violated a federal requirement that only US citizens work on theWP - 912 words
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Article, Illustration418 2016-05-02 24 Bloomberg San Francisco FORGET personal computer doldrums and waning smartphone demand. Google thinks computers will one day cease being physical devices. “Looking to the future, the next big step will be for the very concept of the ‘device’ to fadeBloomberg; PHOTO: REUTERS - 418 words
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CONSUMER
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Article, Illustration1275 2016-05-02 25 A coalition of mayors, health officials and anti-smoking groups scores some important victories NYT Jakarta THE densely packed houses along Yogyakarta’s Kali Code River went from drab to a riot of reds, blues, yellows and whites. Residents did not know who had paid forNYT - 1,275 words
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GOVERNMENT & ECONOMY
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Article, Illustration914 2016-05-02 26 Anthony Rowley - Demand for financing growing as China shifts from over-heavy reliance on bank financing By Anthony Rowley btworld@sph.com.sg Tokyo CHINA’S bond market appears set to become the “next big thing” among global investors as the country’s banking sector comesPHOTO: BLOOMBERG - 914 words
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288 2016-05-02 26 Reuters Berlin GERMAN industrial output is expected to increase at a faster pace this year despite weaker growth in exports, the BDI industry association said in its latest report, which was seen by Reuters on Sunday. Domestic demand hasReuters - 288 words
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Article, Illustration845 2016-05-02 27 Anthony Rowley - Japan and China among five economies in fresh list used by Washington to monitor what it calls potentially ‘unfair’ practices in foreign exchange policy By Anthony Rowley btworld@sph.com.sg Frankfurt SO-CALLED “currency wars” appeared to have entered a new stage at the weekendPHOTO: REUTERS - 845 words
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437 2016-05-02 28 It expects budget deficit to narrow over its four-year forecast horizon Bloomberg Sydney AUSTRALIA’S debt pile will stop growing within the next five or six years and then begin to shrink as the government works to balance the budget, according to TreasurerBloomberg - 437 words
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294 2016-05-02 28 NYT New York MICHAEL Bloomberg, the former mayor of New York, denounced what he called the “demagoguery” in the Republican and Democratic Parties in a commencement speech delivered on Saturday at the University of Michigan. “In this year’s presidential election, we’ve seen moreNYT - 294 words
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Article, Illustration483 2016-05-02 29 Exports fall 11.2% and imports drop 14.9%; govt not upbeat about May Reuters Seoul SOUTH Korean exports fell at a sharper pace in April as fewer working days ate into shipments already suffering from weak global demand and low global commodity prices, andReuters - 483 words
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533 2016-05-02 29 AFP Jakarta INDONESIA is pushing to ban new palm oil operations after last year’s haze-belch-ing forest fires were partly blamed on the industry’s expansion, but producers are warning the move could hit the economy and green groups are sceptical. President JokoAFP - 533 words
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Article, Illustration1199 2016-05-02 30 Heist raises questions about how securely money is being moved around world NYT New York TENS of millions of dollars siphoned from the Federal Reserve Bank of New York. A shadowy set of casinos in the Philippines. A large bank in BangladeshNYT; PHOTO: REUTERS - 1,199 words
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Article, Illustration675 2016-05-02 31 Neil Behrmann - But the leave campaign may yet win the day as it plays on migration fears By Neil Behrmann btworld@sph.com.sg London SURVEYS show the majority of UK respondents and financialmarket participants are betting the country will remain in the European Union (EU) after thePHOTO: BLOOMBERG - 675 words
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407 2016-05-02 31 Reuters Frankfurt GERMANY would lose out if the European Central Bank (ECB) abandoned its inflation target while low interest rates are a boon, not just a burden, a top ECB policymaker said on Sunday, responding to a barrage of criticism from German officials. Without repeatedReuters - 407 words
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Page 27 Advertisements
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Advertisement317 2016-05-02 27 NOTICES MARITIME AND PORT AUTHORITY OF SINGAPORE Notice of Disposal of Abandoned Craft Pursuant to Section 58 of the Maritime and Port Authority of Act (Cap 170A) Notice is hereby given that the Maritime and Port Authority of Singapore (“MPA”), in the exercise of its powers under Section 58 of317 words
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Page 28 Advertisements
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Advertisement279 2016-05-02 28 PROPERTY SEMINARH,2016 SHOWCASE The hot-selling Property Seminar by SPH Digital is back again! SEMINAR FOR A f CHANCE TO WIN 1 PRIZES WORTH UP TO $1,100!* L "Lucky draw will be held at i the end of each seminar M on both riaus Partners ALPHA Limited Seats. Grab your tickets279 words
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Page 31 Advertisements
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Advertisement25 2016-05-02 31 One man’s junk is another man’s treasure Shop second-hand or sell your possessions In CLASS 162 To advertise, call the Print Classified Hotline: 1800-289 998825 words
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TRANSPORT
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1138 2016-05-02 32 Some have moved their collections to newer rival Delaware Freeport and warehouses in London Bloomberg Geneva ART collectors have begun to pull their paintings and sculptures out of Geneva’s secretive free port storage facility as the site once again finds itself under scrutinyBloomberg - 1,138 words
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Article, Illustration506 2016-05-02 32 Future of scandal-hit Mitsubishi Motors in doubt again AFP Tokyo SALES are falling off a cliff. Its reputation is in tatters. And even its top executive is talking about whether the carmaker will survive. Mitsubishi Motors’ future is hanging in the balance for the second time in a decade afterAFP; PHOTO: BLOOMBERG - 506 words
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Article, Illustration928 2016-05-02 33 Uber claims Ola employees made calls, cancelled bookings; market leader denies allegations Reuters New Delhi A FLURRY of complaints from Uber drivers about an unusually high number of cancelled bookings has ignited a bitter legal fight with Ola,Reuters; PHOTO: REUTERS - 928 words
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338 2016-05-02 33 Reuters Brussels AVIATION industry leaders want European Union (EU) transport ministers to intervene to help settle a dispute between Britain and Spain over Gibraltar’s airport which threatens proposals to smooth travel across the bloc. The dispute over whether the territory’s airportReuters - 338 words
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Page 34 Advertisements
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Advertisement871 2016-05-02 34 THE BUSINESS TIMES SHIPPING TIMES MONTREAL 10 120 29/7 30/7 4/8 MONTREAL 10 120 29/7 30/7 4/8 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) SIN PGU PKL KCH KK JKT MALAYSIA STAR 58 50 7/5 9/5 13/5 15/5 COSMIC ACE 002 100 9/5871 words
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Page 35 Advertisements
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Advertisement916 2016-05-02 35 WALLENIUS WILHELMSEN LOGISTICS Tel: (65) 6379 5066 Fax: (65) 6379 5106 Email: 2wsinenq@2wglobal.com website: http://www.2wglobal.com AUSTRALIA NEW ZEALAND TO ASIA VESSEL VOY AKL BNE PKL MEL FRE JKT SIN TARAGO FF617 15/04 19/04 21/04 23/04 27/04 03/05 05/05 TIJUCA FF619 05/05 09/05 11/05 13/05 18/05 24/05 TAMERLANE FF620 14/05 18/05916 words
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Advertisement378 2016-05-02 35 BINTANG MAS SHIPPING PTE LTD 39 Neil Road Singapore *****3 Tel: *****988 Fax: *****564 CR No.: **********0W Breakbulk Container Service to Sarawak, Sabah Brunei Vessel Voyage ETA SIN Muara Labuan K. Kinabalu Eponyma 1608E 03.05.16 08.05.16 09.05.16 11.05.16 Eline Enterprise 1608/E 10.05.16 15.05.16 16.05.16 Eponyma 1609E 16.05.16 21.05.16 22.05.16 24.05.16378 words
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LIFE & CULTURE
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Article, Illustration514 2016-05-02 36 Renald Yeo - Project Chulia Street partners other groups to dish out meals for 6,000 people at dormitory By Renald Yeo yrenald@sph.com.sg Singapore FOR most of us, working at our day job is tough enough. To run a non-profit group, serving the community, is perhaps tougher still.PHOTO: PROJECT CHULIA STREET - 514 words
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Article, Illustration304 2016-05-02 36 AFP Sochi, Russia NICO Rosberg became only the fourth driver in Formula One history to record seven successive wins when he cruised to victory ahead of Mercedes team-mate Lewis Hamilton in Sunday’s inci-dent-filled Russian Grand Prix. The 30-year-old German startedAFP; PHOTO: REUTERS - 304 words
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Page 36 Miscellaneous
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Miscellaneous325 2016-05-02 36 CRYPTIC CROSSWORD Across 7 Talk from head of college about poetry (8) 9 Tree providing fruit, no end, east of river (6) 10 24 Down Busy type, awfully smart they’ll get put down in the pub (4,4) 11 Adds different colours to very small sign around entrance (10) 12 Composer325 words
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