The Business Times, 11 May 2016

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Total Pages: 24
1 24 The Business Times
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  • Title Section
    Lock icon Masthead
    22 1 THE BUSINESS TIMES S$1.20 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BusinessTimes CO REGN NO *****2868E MCI (P) 039/08/2015 Wednesday, May 11, 2016
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  • Article
    Lock icon MARKETS
    28 1 Tuesday Change STI 2,741.15 -24.91 KL COMP 1,635.84 +3.65 NIKKEI 225 16,565.19 +349.16 HANG SENG 20,242.68 +85.87 SHENZHEN B 1,065.58 +0.38 DOW (11.45 AM EDT) 17,882.46 +176.55
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  • Article, Illustration
    Lock icon DAILY DIGEST
    259 1 Singapore’s central bank acted fittingly when it eased monetary policy last month, says the IMF. top stories 2 Saudi Arabia is digging in its heels on the oil policy that it started in late 2014, with the appointment of a new oil minister, analysts say. top STORIES 3
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  • Article
    Lock icon Fullerton Health to raise S$300m in proposed SGX listing
    635 1  -  Singapore-based regional group, which has 200 clinics, facilities and 8,000 associate units, said to have S$1.5b pro forma market cap By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore IN WHAT could be one of the biggest initial public offerings (IPOs) in more than
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  • Article
    Lock icon Singtel ups the ante in fragmented mobile payment market
    817 1  -  By jaccheok@sph.com.sg Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore SINGTEL on Tuesday unveiled its Singtel Transit near-field communications (NFC) SIM and an improved version of its mobile payment app, Dash. In what appears to be an attempt to up its game against big-name
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      Lock icon Page 1 Advertisements Column 1
      139 1 *****1 *****1 THE BUSINESS TIMES The Power of Dreams 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® Industries premium sound system amplify
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      Lock icon Page 1 Advertisements Column 2
      18 1 US ELECTIONS It’s Hillary’s presidential race to lose this year OPINION/20 DOUSING CHINA’S COMMODITIES FRENZY EXECUTIVE MONEY 24
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      31 1 HOCK LOCK SIEW Does Singapore need Say-On-Pay? COMPANIES MARKETS 6 PHILIPPINES Duterte’s next challenge: winning over investors top stories 2 OBITUARY PHILANTHROPIST AND BUSINESSMAN LEE SENG GEE DIES TOP STORIES 2
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  • TOP STORIES
    • Article
      Lock icon Latest MAS easing move ‘appropriate’: IMF
      442 2  -  It expects Singapore’s growth to slow to 1.8 per cent this year before improving to 2.5 per cent in 2017 By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore SINGAPORE’S central bank acted fittingly when it eased monetary policy last month, said the International Monetary Fund (IMF)
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    • Article
      Lock icon Trade associations get S$90m funding boost
      391 2  -  By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore OVER the next five years, around S$90 million of government funds will be set aside for trade associations and chambers (TACs) to support their efforts to drive industry transformation in Singapore. This is a 20 per cent increase
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    • Article, Illustration
      Lock icon Philanthropist and businessman Lee Seng Gee dies
      564 2  -  OBITUARY By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore LEE Seng Gee, the long-standing chairman of the Lee Foundation and the Lee Rubber Group, died on Tuesday after a long illness. He was 95. Like his father Lee Kong Chian and maternal grandfather Tan
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    • Article
      Lock icon PICTET
      290 2 Pictet-Absl Rtn Fxd Inc-HP EUR 64 05/05/2016 301 RUE 6102/50/50 Pictet-Asian Equities Ex Japan-P USD 04/05/2016 USD 179,48 Pictet-Asian Local Currency Debt-P USD 04/05/2016 USD 149,68 Pictet-Biotech-P USD 72,865 DSU 6102/50/50 Pictet-Clean Energy-P USD 76,96 DSU 6102/50/50 Pictet-Digital Communication-P USD 05/05/2016 USD 225,76 Pictet-Em Lcl Ccy Dbt-P USD 25,551
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    • Article, Illustration
      Lock icon Duterte’s next challenge: winning over investors
      741 2 He calls for “healing” to calm markets, starts giving investors positive signals like relaxing ownership limits BLOOMBERG Manila AFTER defeating his opponents in a heated presidential election in the Philippines, Rodrigo Duterte is seeking to calm markets with a call for “healing” as he
      BLOOMBERG; PHOTO: BLOOMBERG  -  741 words
    • Article, Illustration
      Lock icon Oil market rebalancing outlook still intact: analysts
      813 3  -  Saudi Arabia’s new oil minister lends weight to the policy of the country maintaining its market share By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore SAUDI Arabia, the world’s largest oil exporter, is digging in its heels on the oil policy that it started in
      Source: Bloomberg; Source: RBC Capital, CFTC  -  813 words
    • Article
      Lock icon Panama Papers throw up confusing Singapore names
      668 3  -  By lisen@sph.com.sg Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore THE dreaded exposure of the Panama Papers has turned up some household names in Singapore including the three local banks but there is also a fair bit of confusion as some names have been misused.
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    • Article, Illustration
      Lock icon Japan to curb ‘one-sided’ yen moves through forex intervention
      603 4  -  Yen retreats, falling near 109 to the US dollar compared with an 18-month high of around 105.6 last week By Anthony Rowley btworld@sph.com.sg Tokyo EXCHANGE rate friction between Japan and the United States appeared to flare anew on Tuesday when Japan’s
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    • Article, Illustration
      Lock icon China’s April inflation stable, tempering fears of deflation
      542 4  -  Its Producer Price index falls 3.4 per cent from a year ago, as factories drop prices to run down stocks By Virginie Mangin btworld@sph.com.sg Beijing CHINA’S inflation was flat in April from the previous two months, at 2.3 per cent, in line
      PHOTO: REUTERS  -  542 words
    • Article, Illustration
      Lock icon Blocks, chains and hashes
      1178 4  -  A block chain is very simply a way to maintain a database without a central authority. One of the most closely studied areas of financial technology, it came into prominence in the past few years as the core mechanism behind the Bitcoin cryptocurrency. Block chains are
      BT Graphics: Elenita Sarah Loyola  -  1,178 words
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      100 3 (§)EIHOIWRSGROUP zoom-zoom The best car... in the world. WINNER 2016 WORLD CAR AWARDS WORLD CAR DESIGN OF THE YEAR f; JV WINNER 2016 WORLD CAR AWARDS WORLD CAR OF THE YEAR MADE IN JAPAN rvi Test drive the Japanese-made Mazda MX-5 today. Trans Eurokars Pte Ltd 5 Ubi Close, Singapore
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      10 3 Panama Papers database on shell firms goes online, Page 13
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon One-time gains lift SingPost Q4 earnings
      610 5  -  Net profit jumps 196% as revenue rises 27%; longstop dates for both Alibaba deals extended again By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore SINGAPORE Post has extended the longstop dates for both its deals with Chinese e-commerce giant Alibaba yet again, though this time it
      FILE PHOTO  -  610 words
    • Article
      Lock icon One Raffles Place boosts OUE C-Reit’s Q1 DPU
      439 5  -  By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore BOLSTERED by its One Raffles Place acquisition, OUE Commercial Reit’s (OUE C-Reit) distribution per unit (DPU) for the first quarter ended March 31, 2016, jumped 33.3 per cent to 1.32 Singapore cents, up from 0.99 cent
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    • Article
      Lock icon Does Singapore need Say-On-Pay?
      1286 6  -  HOCK LOCK SIEW BY MICHELLE QUAH michquah@sph.com.sg @MichelleQuahBT SAY-ON-PAY in which shareholders get to vote on the remuneration of their company’s top executives is growing in prominence across the globe, as the push to vest shareholders with the power to decide executive compensation becomes greater. There
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    • Article
      Lock icon F&N Q2 profit hurt by revised Myanmar gain
      359 6  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore BEVERAGE maker Fraser and Neave (F&N) saw its second-quarter net profit slump 54.1 per cent from restated earnings on a reclassification of profits from its brewery business in Myanmar. This business was sold off in 2015.
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    • Article
      Lock icon Wilmar’s Q1 profit up 3.2% despite revenue fall
      462 6  -  It expects higher crude palm oil prices to benefit plantation business; higher feedstock costs will lead to lower margins in downstream businesses By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore WILMAR International’s net profit grew 3.2 per cent in the first quarter despite a
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    • Article
      Lock icon SIAEC reports flat profit in Q4 despite rise in revenue
      428 6  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore SIA Engineering Co (SIAEC) reported a flat net profit of S$41.4 million for the fourth quarter ended March 31, 2016, due in part to higher expenses and lower share of profits of joint ventures.
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    • Article
      Lock icon Asian Pay TV returns to black
      313 6  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore MAINBOARD-LISTED Asian Pay Television Trust (APTT) has posted S$ 16.62 million in net profit attributable to unitholders for the first quarter ended March 31, reversing a net loss of S$5.56 million a year ago. Revenue fell 5.4 per
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    • CORPORATE DIGEST
      • Article
        Lock icon Straco Corporation
        53 6 STRACO Corporation on Tuesday posted a 4-per-cent dip in first quarter earnings to S$8.34 million, on the back of a sales tax on ticket revenue to the Shanghai Ocean Aquarium. Meanwhile, revenue was up 5.1 per cent year-on-year to S$26.4 million, attributable to increased number of visitors to
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      • Article
        Lock icon Fragrance Group
        125 6 FRAGRANCE Group on Tuesday announced that it has entered into a sale-and-purchase agreement to acquire a property in Tasmania, Australia, for a total consideration of A$5.5 million (S$5.53 million). The purchase will be done through its subsidiary, Fragrance Tas-Hobart (Davey). The freehold property is located at 2-6 Collins
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      • Article
        Lock icon CSE Global
        122 6 CSE Global’s net profit for the first quarter ended March 31, 2016, sank 27.5 per cent year-on-year to S$5.51 million, as revenue slipped 16.5 per cent to S$84.22 million. The technology company said the drop in revenue was due to lower contributions from the Asia-Pacific and Americas regions.
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      • Article
        Lock icon Vicom
        101 6 VICOM’s net profit fell in the three months ended March 31, 2016, by 13.2 per cent on year to S$7.3 million, as more vehicles were de-registered. The vehicle inspection and testing services provider said on Tuesday that its first-quarter total revenue fell by 10.4 per cent to S$25.4 million
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    • Article, Illustration
      Lock icon Frasers Centrepoint Ltd’s Q2 profit hit by fair value losses
      814 7  -  Profit falls 13.8% despite growing base of recurring income; analysts see stronger H2 By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore FRASERS Centrepoint Limited (FCL) posted a 13.8 per cent decline in net profit for the second quarter ended March 31, 2016,
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    • Article
      Lock icon Job fears, cooling moves will continue to hurt home sales: FCL CEO
      425 7  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore FRASERS Centrepoint Ltd (FCL) chief executive Lim Ee Seng deems it a “no-brainer” that residential demand will continue to dwindle as buyers become increasingly jittery about job security and property cooling measures
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    • Article
      Lock icon Noble Group set to clinch US$3b in credit facilities
      311 7 REUTERS Singapore NOBLE Group is set to clinch about US$3 billion in bank credit, sources close to the matter said, in a move that will help Asia’s biggest commodity trader to overcome a major refinancing hurdle this year. But the company
      REUTERS  -  311 words
    • Article, Illustration
      Lock icon STI / Catalist
      61 8 STI Catalist Straits Times Index May 10,2016 2,741.15 -24.91 (-0.90%) Current streak 1 day Day high 2,763.29 Day low 2,736.18 52-week high 3,470.80 (May 11,2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist index May 10,2016 435.87 -6.24 (-1.41%) Current streak 3 days Day high 441.28 Day low 435.31
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    • Article
      Lock icon GAINERS
      76 8 BY CENTS CLOSE UP 52w high/low DBXT DBLCI-OY US$ 2131 157.5 5.7 2600/1946 SPDR S&P500 US$ ***** 95.8 0.3 *****/***** DBXT AUDCS AU$ ***** 64.1 0.3 *****/***** DBXT MSKorea US$ 5206 57.5 0.8 6030/4478 DBXT MSEurope US$ 5328 54.8 0.8 6300/4770 BY PERCENTAGE CLOSE UP 52w high/low Cedar Strategic
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    • Article
      Lock icon LOSERS
      77 8 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -178.0 -1.1 *****/***** DBS Bk 4.7% NCPS ***** -161.0 -1.5 *****/***** Jardine C&C 3438 -127.0 -3.6 4520/2636 JMH USD 5500 -79.4 -1.0 6272/4500 Lyxor EM Mkt US$ 844 -76.7 -6.2 1085/755 BY PERCENTAGE CLOSE DOWN 52w high/low Infinio 0.1 -85.7
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    • Article
      Lock icon UNUSUAL ACTIVITY
      81 8 VOL CLOSE($) CHANGE Raffles United 25.2 0.170 -0.075 -30.61 Pharmesis Intl 14.0 0.405 -0.070 -14.74 CMPacific 10,797.7 1.005 +0.155 +18.24 Heeton 223.9 0.410 -0.070 -14.58 GS Hldg 5,539.1 0.280 +0.015 +5.66 Samko Timber 40.0 0.099 +0.011 +12.50 VGO^ 62.0 0.109 +0.019 +21.11 TPV Tech 20.0 0.200 +0.020 +11.11
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    • Article, Illustration
      Lock icon STI suffers eleventh loss in 12 sessions
      593 8  -  Falls in the three banks main drags on the index while modest gains for Hongkong Land and CapitaLand offer support STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT GAINS in Hong Kong, a 100-points rise in the Dow futures and a firm opening for Europe
      Source: Bloomberg  -  593 words
    • Article
      Lock icon STI STOCKS
      305 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 244 cd unch 246/242 255 209 6.3 6413.4 CapitaCom Trust 141 +2 141.5/139.5 166.5 122.5 6.1 4168.4 CapitaLand 300 +2 303/294 367 267 12 3 *****.7 CapitaMall Trust 207 -6 212/207 224
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    • Article
      Lock icon MOST ACTIVE
      34 8 VOLUME Noble 80,075,500 Ezra 30,670,900 Golden Agri-Res 30,635,500 Global Logistic 19,815,600 Singtel 19,791,400 Market volume 1,333,937,000 VALUE Singtel 76,476,317 DBS Grp 62,274,081 CapitaLand 49,869,048 OCBC Bank 49,692,329 UOB 39,202,723 Market value 945,709,000
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 May 10 VALUE CLOSE BT OB/OS -616.00 +92.00 BT CADI -*****.00 -67.00 BT 10-day MA -*****.00 -62.00 FTSE ST Mid Cap 678.05 +3.13 FTSE ST Small Cap 391.41 -0.20 FTSE ST All Share 674.35 -4.19 FTSE ST China Top 161.76 +1.78 FTSE ST China 191.54 +0.57 FTSE
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    • Article
      Lock icon SGX ETFs
      106 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 279 -2 327 281/278 351/254 278/279 Lyxor World US$ US166 -2.6 128 166/166 183.5/149.2 -/-16.6 DBXT MSPHILS US$ US194.1 +5.8 90 194.1/187 227.4/158.5 194.4/195.2 15.5 DBXT MSRussia US$ US192 -1 42 193/192 235/129 192/193
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      34 8 STI FTSE ST All-Share ftse ST All-Share index May 10,2016 674.35 -4.19 (-0.62%) Current streak 1 day Day high 678.40 Day low 673.07 52-week high 831.03 (May 11,2015) 52-week low 625.37 (Jan 21, 2016)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE index May 9,2016 1,638.21 -1.01 (-0.06%) Current streak 7 days Day high 1,651.22 Day low 1,635.81 52-week high 1,949.49 (May 15, 2015) 52-week low 1,492.43 (Feb 12, 2016)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 1 8 4 0 1 0 1 9 4 Manufacturing 33 41 30 7 6 14 40 47 44 Commerce 13 26 11 3 3 5 16 29 16 Tpt/Stor/Comms 7 18 8
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 15,933 662 16,595 43,112 129 43,241 Manufacturing 91,944 63,771 155,715 92,485 3,096 95,581 Commerce 104,423 9,787 114,210 99,003 239 99,242 Tpt/Stor/Comms 111,413 426 111,839 155,023 36 155,059 Finance 16,672 16,672 170,536 170,536 Construction 7,393 1,252
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    • BROKERS’ TAKE
      • Article
        Lock icon Telecommunications sector | Under review
        111 8 Telecommunications sector Under review UOB Kay Hian, May 10 MyRepublic plans to establish a fourth mobile operator that is radically different from the traditional incumbents. It leverages on extensive coverage provided by the 900MHz (MegaHertz or a million Hertz) frequency band, new SDN (software-defined networking) and NFV (network functions virtualisation)
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      • Article
        Lock icon BreadTalk Group | Sell
        202 8 BreadTalk Group Sell Target price: S$0.96 May 10 close: S$1.14 OCBC Investment Research, May 10 BreadTalk Group released its Q1 2016 results Monday evening, which was largely helped by an S$8.5 million gain from the sale of 112 Katong, a non-core real estate investment, while core profitability remained weak. The
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      • Article
        Lock icon Cosco Corp | Hold
        163 8  - Cosco Corp Hold Compiled by Claire Huang Target price: S$0.30 May 10 close: S$0.325 DBS Group Research, May 10 Cosco Corp reported its fourth consecutive quarter of losses in Q1 2016. Net gearing of 3.9 times is a concern. We upgrade Cosco to “Hold” with a raised target price of
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    • Article
      Lock icon CALENDAR
      8 8 DATA IMay 11 US MBA Mortgage Applications
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    • Article
      Lock icon Intervention warnings send yen to 2-week low
      440 9 CURRENCIES REUTERS London THE yen fell sharply to its lowest in almost two weeks against the US dollar on Tuesday following a slew of warnings by Japan that it was prepared to step in to weaken the currency. The US dollar rose 0.9
      REUTERS  -  440 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 May 10 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.951 4.783 0.644 5.696 48.922 97.565 0.799 8.598 2.975 1.088 76.823 34.313 1.005 11.160 0.713 23.868 25.861 0.509 0.734 Canada 1.052 5.030
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 9 May 10 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0044 1.0058 0.7336 0.7341 Canadian dollar 1.0563 1.0574 0.7718 0.7715 Euro 1.5593 1.5610 1.1389 1.1393 NZ dollar 0.9233 0.9245 0.6744 0.6748 Sterling pound 1.9741 1.9761 1.4419 1.4423
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 May 10 S$ Bid Offer 1-month 1.3698 1.3709 2-months 1.3703 1.3717 3-months 1.3706 1.3718 6-months 1.3728 1.3741 Source: OCBC
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      • Article, Illustration
        Lock icon HANG SENG
        2 9
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        Lock icon NIKKEI
        1 9
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        Lock icon SHANGHAI COMPOSITE
        2 9
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        Lock icon DOW JONES
        2 9
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        387 9 May 10 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES May16 9230.00 9320.00 9180.00 9315.00 *****7 *****0 Jun16 9005.00 9065.00 8932.50 9057.50 ***** ***** NIKKEI 225 INDEX FUTURES Jun16 *****.00 *****.00 *****.00 *****.00 *****5 *****0 Sep16 *****.00 *****.00 *****.00 *****.00 50 1166 MSCI TAIWAN
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        207 9 Most active May 10 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****1 7.4 -0.8 ***** 0.1 1480 2 Rowsley Ltd W*****3 0.5 0.1 7714 1 18 5 Asia-Pacific Strategic W*****9 0.1 -0.1 3691 1 1 83
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        377 9 In local curr In S$ In US$ dy yr dy yr dy yr May 9 Index Change Change Change Change Change Change World Preliminary 1240.4 0.2 -2.9 0.6 -4.7 0.0 -1.2 EAFE Preliminary 929.3 0.5 -8.3 0.6 -7.9 -0.1 -4.5 Europe Preliminary 1319.7 0.4 -6.6
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 May 10 $S Offer Bid 0vernight 0.02 Par 1-month 0.7500 0.6250 2-months 0.9375 0.8125 3-months 1.0000 0.8750 Overnight mode: 0.03 US$ 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 1.05 0.85 9 months 1.25 1.05 12
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      • Article
        Lock icon GOVERNMENT SECURITIES
        67 9 May 10 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0T 0.500 01-Apr-18 98.97 5-Year NX*****X 2.250 01-Jun-21 102.97 102.95 102.95 10-Year NX*****Z 2.375 01-Jun-25 102.9 103.00 102.90 15-Year NZ*****F 2.875 01-Sep-30 106.01 106.00 106.00 20-Year NZ*****V 3.375 01-Sep-33 113 113.30 113.10
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 9 May-9 Price Net change change Last Trade Agricultural May-9 CBOT Soybeans (US cents/bu) 1018.75 -7.50 -0.73% 13/05/2016 CBOT Soybean Oil (US cents/lb) 32.54 -0.27 -0.82% 13/05/2016 CBOT Wheat (US cents/bu) 447.00 -6.25 -1.38% 13/05/2016 May-9 LIFFE Cocoa (£/tonne) 2236.00 11.00 0.49% 13/05/2016 LIFFE Coffee (US$/tonne) 1606.00 -13.00 -0.80%
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    • Article
      Lock icon SGX MAINBOARD
      1771 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Company Last Sale Vol ('000) High Day 151.5 127 AIMSAMP Cap Reit 138.5xd +0.5 164 139 137.5 0.9 8.2 880 Div 175.5 101 ARA Asset Mgmt 124.5 +1.5 368 126
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    • Article
      Lock icon SGX CATALIST
      322 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Last vol Day Div GrYld 0.9 0.2 t Advanced Systems 0.2 unch 305 0.2 0.2 5.3 MCap High LOW 19.9 8.3 t Anchor Resources 12 -0.4 3198 12.4 11.8 33.6 Sale
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    • Article
      Lock icon SGX ETF
      122 10 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale 1345 991 CIMBASEAN40 S$D 1108 +8 0 1108 1108 vol 4190 2355 DBXT China50 US$ US2668 +14 2 2668 2641 7.3 399 190 DBXT MSBrazil US$ US301 -3
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      Lock icon Page 5 Advertisements Column 1
      144 5 An initiative by T ripartite Alliance for Fair Progressive Employment Practices I i i HOW CAN WORK-LIFE STRATEGY ENHANCE YOUR BUSINESS VALUE? Pauline Cnua General Manager of Human Capital CSR at Fuji Xerox Singapore TALENT Work-Life Strategy is a series of measures and initiatives that maximises talent by helping your
      144 words
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      31 7 askSj www.stra itsti mes.com/askst Let ST's correspondents provide the answers Send your questions to askst@sph.com.sg THE STRAITS TIMES lr nM s. 9 0 Christopher Tan Transport Correspondent o at O O
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      94 10 SGX^ Research like a pro. Try out SGX StockFacts The free research and stock fundamentals portal dedicated to SGX-listed companies Singapore Exchange sgx.com/stockfacts This advertisement has been published for general circulation only. It is not an offer or solicitation to buy or sell, nor financial advice or recommendation, in relation
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      1161 11 www.omy.sg SCAN FOR RECIEPES H 0 How to cook a perfect millet meal? ft i ■m NOTICES (Registration Number *****05) (a business trust registered under the Business Trusts Act, Chapter 31A of Singapore) NOTICE OF BOOKS CLOSURE AND PAYMENT DATE FOR THE DISTRIBUTION FOR THE PERIOD FROM 1 JANUARY 2016
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      2444 11 Statements of Financial Positionas at 31 December 2015 Capital Adequacy Assets Cash and short-term funds Reverse repurchase agreements Deposits and placements with banks and other financial institutions Financial assets held for trading Derivative financial instruments Financial investments available-for-sale Financial investments held-to-maturity Loans, advances and financing Other assets Tax recoverable Deferred
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  • REAL ESTATE
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      Lock icon Resale condo prices, volume up again in April
      762 12  -  SRX Property flash estimates also show prices rose in CCR and RCR but fell in OCR, m-o-m and y-o-y BY Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore THE latest April data from SRX Property showed that prices and transaction volume of resale private apartments
      PHOTO: FILE PHOTO  -  762 words
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      Lock icon London campaigners organise tour of houses bought with ‘dirty money’
      651 12 Kleptocracy Tour aims to expose money laundering fuelling high-end market AFP London A BLACK bus winds its way through some of London’s most expensive neighbourhoods for a sightseeing tour with a difference a guided visit around luxury houses bought by
      AFP; £122 billion (S$241 billion) PHOTO: BLOOMBERG  -  651 words
    • Article
      Lock icon Abu Dhabi developer Aldar reports rise in Q1 net
      330 12 BLOOMBERG Dubai ALDAR Properties PJSC, Abu Dhabi’s largest developer and the builder of a Ferrari theme park, posted first quarter profit that beat analysts’ estimates as recurring income rose and home sales held up amid demand from families. Net income advanced
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  • BANKING & FINANCE
    • Article
      Lock icon Singapore’s life insurance business up 5% in first quarter
      432 13  -  Life insurance Association president says results encouraging By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore SINGAPORE’S life insurance industry grew by five per cent year-on-year for the first three months of 2016, in terms of total weighted new business premiums a metric the
      432 words
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      Lock icon EU open to softer stance on banks’ regulation
      645 13 BLOOMBERG Brussels AFTER years of aggressive regulation reining them in, Europe’s banks are starting to get some slack from the policy makers in Brussels. The European Union has opened up the entire financial rule book for review, including contentious issues such as
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    • Article
      Lock icon Panama Papers database on shell firms goes online
      581 13 AFP Washington THE International Consortium of Investigative Journalists on Monday published online detailed data from the Panama Papers trove on more than 200,000 secret offshore companies. The searchable database built on just a portion of the documents leaked from the Panama law
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      Lock icon Helping CEOs of SMEs rethink about growth
      851 13 One female CEO explains how The Job of the Chief Executive programme promotes positive results for her organisation BT ADVERTORIAL CEOs of small- and medium-sized enterprises (SMEs) often have to multi-task as they run a tight ship and do not have the luxury
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      116 13 WHAT S AK If unforeseen challenges are overwhelming your organisation and giving you sleepless nights, take heart you are not alone. Seize the opportunity to learn through our five-day programme as we delve into the root of these issues and more, to define clear strategies and real solutions for the
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  • ENERGY & COMMODITIES
    • Article
      Lock icon Big Oil abandons US$2.5b in US Arctic drilling rights
      941 14 Decision came just before May 1 due date to pay govt millions in rent to keep holdings in Chukchi Sea BLOOMBERG Washington AFTER plonking down more than US$2.5 billion for drilling rights in US Arctic waters, Royal Dutch Shell, ConocoPhillips and
      BLOOMBERG  -  941 words
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      Lock icon Second-biggest aluminium maker sees China exports slowing
      620 14 BLOOMBERG Shanghai CHINA, maker of about half the world’s aluminium, will export less in 2016 as output expands at the slowest pace in five years and a price rebound fails to spur substantial smelter restarts, according to United Co Rusal, the biggest producer
      BLOOMBERG; PHOTO: BLOOMBERG  -  620 words
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      1625 14 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices /amn\ VSLiJkV CH OFFSHORE LTD. (Incorporated in the Republic of Singapore) (Company Registration No. *****0666D) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of CH Offshore Ltd. (the “Company”) will be held at fO Anson
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      54 14 M AY 1 6 30M O N D A Y SPH News Centre 9.30am to 6.00pm BEYOND THE LOGO: CLAIM YOUR BRAND Trainer Harini Chari Early Bird by 25 May$489 Price From 26 May$589 Productivity and Innovation Credit (PIC) Claimable To register or find out more about our workshops, visit
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      26 14 “Cuts a different slice into the complex reality which is India.” GEORGE YEO, former Foreign Affairs Minister Now on sale at all major bookstores and www.stpressbooks.com.sg
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      42 14 2 3 J U N E 1 6 SPH News Centre 9.00am to 5.00pm SME 101 MARKETING BOOTCAMP Trainer: Pamela Wigglesworth EARLY BIRD ENDS 16 MAY 2016 $788 To register or find out more about the bootcamp, visit http://learning.stjobs.sg/ bootcamp STJOBS LEARNING
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  • TECHNOLOGY
    • Article, Illustration
      Lock icon Facebook scrambles to deny accusations of political bias
      993 15 Allegations highlight risks that the company faces as it becomes a central force in news consumption, production NYT New York FACEBOOK scrambled on Monday to respond to a new and startling line of attack: accusations of political bias. The outcry was set
      NYT; PHOTO: REUTERS  -  993 words
    • Article
      Lock icon US investigates security of mobile devices
      492 15 Agencies ask telcos, manufacturers to explain how they release security updates REUTERS Washington THE Federal Communications Commission and Federal Trade Commission have asked mobile phone carriers and manufacturers to explain how they release security updates amid mounting concerns over security vulnerabilities, the US agencies
      REUTERS  -  492 words
  • Page 15 Advertisements
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      2287 15 YUUZOO CORPORATION LIMITED (Incorporated in Bermuda) (Company Registration No. *****) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of YUUZOO CORPORATION LIMITED (the “Company”) will be held at 87 Science Park Drive, Oasis, Level 4 Auditorium, Science Park I, Singapore *****0 on Friday, 27
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  • CONSUMER
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      Lock icon Contracts show Valeant’s bonuses offer to pharmacy
      1314 16 Documents provide new insights into relationship at the heart of drug maker’s share meltdown BLOOMBERG New York EMBATTLED drug maker Valeant Pharmaceuticals International offered tens of millions of dollars in incentives to a pharmacy to sell its products even as the relationship between
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,314 words
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      Lock icon German billionaire heirs to add Krispy Kreme doughnuts to menu
      455 16 NYT New York A GERMAN billionaire family has been on a breakfast buying binge. The newest item on its plate: doughnuts. The board of Krispy Kreme, best known for its warm glazed doughnuts, has agreed to the company’s acquisition by
      NYT; PHOTO: AFP  -  455 words
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  • GOVERNMENT & ECONOMY
    • Article
      Lock icon Developing-nation debt worth US$100b up for grabs
      779 17 They face ratings downgrade to junk this year which could create buying opportunities BLOOMBERG London THERE may be a lot more in store for emerging-market investors who scooped up bargains during a US$220 billion purge of investment-grade corporate bonds last year. A further
      BLOOMBERG  -  779 words
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      Lock icon SWIFT rejects Bangladeshi claims that it slipped up
      583 17 REUTERS Dhaka SWIFT has rejected allegations by officials in Bangladesh that technicians with the global messaging system made the nation’s central bank more vulnerable to hacking before an US$81 million cyber heist in February. The comments were in response to a Reuters
      REUTERS; PHOTO: REUTERS  -  583 words
    • Article
      Lock icon Wholesale inventories inch up in March as expected
      439 17 LATEST US DATA REUTERS BLOOMBERG Washington US wholesale inventories barely rose in March as sales recorded their largest increase in nearly a year, suggesting little impact on the first-quarter economic growth estimate. The Commerce Department said on Tuesday wholesale inventories edged up
      REUTERS; BLOOMBERG  -  439 words
    • Article
      Lock icon UK trade deficit in Q1 widens to fresh record since 2008
      410 17 REUTERS London BRITAIN’S trade deficit widened in the first quarter of 2016 to its biggest since the early days of the financial crisis, adding to signs that global weakness is weighing on the economy. The shortfall in the first
      REUTERS  -  410 words
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      80 17 r c ASIA 2016 1 29 JUNE -1 JULY Level 1, Hall A, Sands Expo Convention Centre Marina Bay Sands, Singapore TOTAL SOLUTIONS FOR ALL YOUR OFFICE NEEDS WORKSPACE DESIGN ERGONOMICS THE GREEN > OFFICE I ESSENTIALS Free“admission, register now! www.OfficExpoAsia.com/reg2 TRADE BUYERS ONLY! Organised By BIZLINK INTERESTEDTO EXHIBIT? Tel:
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      96 17 THE BUSINESS TIMES LEADERS' FORUM 2016 SINGAPORE'S FUTURE ECONOMY SHAPING THE FUTURE ECONOMY: How Singapore Can Chart Its Next Phase Of Growth The forum will explore how Singapore can build a new economic eco-system, and create positive outcomes from disruption while playing to its strengths. It will feature Finance Minister
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      170 17 Have you ever wondered how the rich attain their wealth and keeps it growing? Do you dream of retiring early (or being able to retire at all)? You want to invest but you don’t know where to start? Investment 101 is the answer to your questions! The world of investment
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  • TRANSPORT
    • Article
      Lock icon Required reading for all – from board directors to ship operators
      605 18  - Required reading for all from board directors to ship operators STRAIT TALK BY DAVID HUGHES A senior pilot I spoke to recently in a major North European port made clear that he thought that ship operating standards, on the bridge and on deck, were in too many cases lamentably low.
      605 words
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      Lock icon China car sales rise as dealers offer discounts
      475 18 BLOOMBERG Beijing CHINA’S passenger-vehicle sales rose for the eighth time in nine months, with General Motors Co and Toyota Motor Corp reporting increased deliveries in April as dealers offered discounts to reduce stockpiles. Retail sales of cars, SUVs and mul-ti-purpose vehicles climbed
      BLOOMBERG; PHOTO: REUTERS  -  475 words
    • Article
      Lock icon Uber drivers owed US$730m in expenses had they been employees
      416 18 REUTERS San Francisco DRIVERS who worked for ride-hailing service Uber in California and Massachusetts over the past seven years would have been entitled to an estimated US$730 million in expense reimbursements had they been employees rather than contractors, according to
      REUTERS  -  416 words
    • Article
      Lock icon Mitsubishi Motors in limbo as key shareholder awaits probe results
      707 18 BLOOMBERG Tokyo MITSUBISHI Motors Corp faces the prospect of being stuck in limbo for the next few months as its largest shareholder waits for the results of an investigation into how the carmaker manipulated fuel-economy data before deciding whether to
      BLOOMBERG  -  707 words
    • Article
      Lock icon Takata forecasts 13b yen loss from charges on recalls and consumer settlements
      543 18 BLOOMBERG Tokyo TAKATA Corp is struggling to get ahead of its airbag recall crisis, with the latest full-year financial forecasts failing to take into account the US regulator ordering a near-doubling in number of devices to be replaced.
      BLOOMBERG  -  543 words
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  • Page 19 Advertisements
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      1135 19 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 KUC JKT SUR TOYO PEARL 008 100 13/5 15/5 18/5 BELANESIA 001 60 23/5 24/5 25/5 28/5 NANIWA 002 60 27/5
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      374 19 C a i l a n E n n o r e J e d d a h B r i s b a n e Shanghai Chittagong Ho Chi Minh H o J e b e l A l i n g NYK RORO (ASIA) PTE. LTD. K o
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      705 19 WALLENIUS WILHELMSEN LOGISTICS Tel: (65) 6470 9100 Fax: (65) 6235 3623 Email: 2wsinenq@2wglobal.com website: http://www.2wglobal.com AUSTRALIA NEW ZEALAND TO ASIA VESSEL VOY AKL BNE PKL MEL FRE JKT SIN TIJUCA FF619 05/05 09/05 11/05 13/05 18/05 24/05 TAMERLANE FF620 13/05 17/05 19/05 21/05 26/05 03/06 FIGARO FF622 01/06 05/06 07/06
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  • OPINION
    • Article
      Lock icon New telco operator adds variety and lifts competition in mobile market
      587 20 EDITORIAL CONNECTIVITY is central to Singapore’s Smart Nation ambitions, which is why innovation is crucial in the telecommunications sector. More often than not, the term “innovation” is code for technological innovation. However, innovation is also required in service offerings,
      587 words
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      Lock icon It’s Hillary’s presidential race to lose this year
      1449 20  -  She has several advantages over the Donald, but angry white blue-collar workers could upset her calculations By Leon Hadar Washington LIKE Barack Obama, the first AfricanAmerican US president, Thomas Bradley, the 38th mayor of Los Angeles, made history when he was elected
      PHOTO: REUTERS  -  1,449 words
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      Lock icon The real drag on the US economy – the American consumer
      872 20  - The real drag on the US economy the American consumer THE BOTTOM LINE By Robert J Samuelson THE WASHINGTON POST WRITERS GROUP Washington American consumers aren’t what they used to be, and this helps explain the plodding economic recovery. It gets no respect despite creating 14 million jobs and lasting
      THE WASHINGTON POST WRITERS GROUP  -  872 words
    • Article
      Lock icon Managing risks beyond borders in South-east Asia
      800 21  -  COMMENTARY By Steven Cranwell TThe writer is managing director and head of Commercial Banking, HSBC Singapore. THE annual Asean-US Dialogue is being held in Kuala Lumpur this week where discussions will undoubtedly be centred around ways the two economic blocs can circuit-break the
      800 words
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      Lock icon China at an inflection point: what’s in it for Asia?
      2404 21  -  China has done well in managing the country’s rapid growth and transformation. This bodes well for its growth and the region’s.BY region’s.BY RAVI MENON T The writer is managing director of the Monetary Authority of Singapore. He delivered this at
      PHOTO: REUTERS  -  2,404 words
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  • LIFE & CULTURE
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      Lock icon Refugees-as-guides a hit at Berlin’s museums
      713 22 Unique project a bid to integrate refugees into Germany as the country shifts focus from its emergency refugee relief work. AFP Berlin MOHAMED Al-Subeeh was a senior restorer at Syria’s best-known mosaic museum, but as war swept deeper into his province, destroying artefacts and
      AFP; PHOTO: AFP  -  713 words
    • Article, Illustration
      Lock icon Mafia mobster’s prized art collection in Italy show
      637 22 AFP Rome THE prized art collection of a mafia boss, confiscated by Italian police, has gone on show in Calabria in an exhibition billed as a “Victory of the State” over organised crime. Two paintings by Spanish great Salvador Dali feature in
      AFP; PHOTOS: AFP  -  637 words
  • Page 22 Advertisements
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      85 22 WE'RE BACK BIGGER AND BETTER! JOIN US AT STJOBS CAREER DEVELOPMENT FAIR 2016 Showcase your company's profile to close to 1 million qualified job seekers Meet end interact with potential candidates face to face Recruit talented job seekers on the spot VENUE: Marina Bay Sands, Kalis D E (Basement 2)
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  • Page 22 Miscellaneous
    • Miscellaneous
      Lock icon Page 22 Miscellaneous Column 1
      309 22 Across 1 End of schooldays in America (8) 6 Physical exercises I put off when on board (3-3) 9 Examine success right away (6) 10 Discuss business in express store (4,4) 11 A leading light in the motorist’s world (8) 12 Mother and child in a jam? (6) 13 Being
      309 words
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  • EXECUTIVE MONEY
  • Page 23 Advertisements
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      17 23 SMRT cools trains to counter high temperature high temperature To subscribe, call 6388-3838 or go to sphsubscription.com.sg
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      5 23 Buying Opportunities Property Outlook 2016
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      42 23 Vocational Training Consultancy Services Food Beverages Culinary Arts Retail Management Academic Programme Digital Technology Hotel Management Hospitality Travel Management Language Point of Sales System Software Solutions for MSEs (Micro Small Enterprises) Enterprise Resource Planning) TO EXHIBIT: S* +65 6319 4021 or mtde@sph.com.sg
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  • Page 24 Advertisements
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      396 24 r 1 CLEVER MOVE 1 Ml 9 ii FAST-MOVING CONDITIONS CRAFTED TO PERFORM w SPDR® THE PIONEER OF THE ETF DELIVERS COST-EFFICIENT, FLEXIBLE MARKET ACCESS. The world of investment is complex. Which is why SPDR pioneered the original ETF. Since creating the world’s first ETF more than 20 years ago,
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