The Business Times, 1 June 2016

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Total Pages: 26
1 26 The Business Times
  • 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 GWednesday, June 1, 2016
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  • 152 1 The National wages Council wants employers to give low-wage workers earning up to S$1,100 a month a built-in wage increase. TOP STORIES 2 Singapore companies must recognise that they are vulnerable, and make the effort to deal with disruption, or go the way of Kodak. TOP STORIES 4
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  • 978 1  -  By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore WHILE the bulk of business leaders see disruption as a major phenomenon in their sector, they remain confident about Singapore’s ability to stay relevant to the world economy, according to findings from The Business Times-Standard Chartered Leaders’
    Source: The Business Times – Standard Chartered Leaders’ Survey 2016  -  978 words
  • 27 1 Tuesday Change STI 2,791.06 -5.69 KL COMP 1,626.00 -3.87 NIKKEI 225 17,234.98 +166.96 HANG SENG 20,815.09 +185.70 SHENZHEN B 1,070.79 +25.25 Dow (11.45AM EDT) 17,807.58 -65.64
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  • 959 1  -  Speakers at The Business Times Leaders’ Forum 2016 say a stronger appetite for risk will encourage innovation and open up opportunities By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore A GREATER appetite for risk and tolerance for failure is needed from all
    PHOTO: AIDAN LOO; PHOTOS: AIDAN LOO  -  959 words
  • Page 1 Advertisements
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    • 28 1 ETFS THAT TRACK VALUE Hopes are high again for buying low EXECUTIVE MONEY 26 EU: TURNING POINT Brexit referendum: Plenty at stake for Europe as well opinion 22
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    • 35 1 More reports on Page 4: BT Graphics Business leaders speak; S’pore urged to always embrace the best talents; Good business model more crucial than innovation; Deal with disruption or go the way of the dodo
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  • TOP STORIES
    • 748 2  -  Wage restraint okay for firms not doing well and facing uncertain prospects, but management must take lead By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore THE economy is shaky but the National Wages Council still wants employers to give low-wage workers earning up to
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    • 442 2  -  It is aimed at encouraging business growth and restructuring among SMEs By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore SMALL and medium-sized enterprises (SMEs) will have greater access to financing from Wednesday, with the launch of the SME Working Capital
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    • 635 2  -  Marine industry chief calls for prudence, ‘rightsizing’, and R&D investment By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore SINGAPORE shipyards secured S$4.9 billion in new orders during 2015, demonstrating the willingness of some offshore and marine (O&M) players to invest
      FILE PHOTO  -  635 words
    • 794 4  -  Panel discussions conclude that’s how Republic can maintain its edge and suceed in the long term THE BUSINESS TIMES LEADERS’ FORUM By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore SINGAPORE must always remain open to talent and attract the best people to work here
      Source: The Business Times – Standard Chartered Leaders’ Survey 2016  -  794 words
    • 521 4  -  By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore HAVING a good business model is more crucial than innovation for companies or even whole economies, the group president of a prominent Internet company has said. Nick Nash, chief of Singa-pore-based consumer internet platform
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    • 558 4  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore UNLESS Singapore companies want to go the way of Kodak, they must recognise that they are vulnerable, and make a committed effort to deal with “disruption”, startup speak for innovative solutions that can transform
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    • 768 6  -  VC funding a first for Singapore-based Lynx and said to be largest such round in South-east Asia STARTUPS By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore STARTUPS Lalamove and Lynx Capital have each raised US$10 million in venture capital funding. While it is the third
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    • 344 6  -  By Vrinda Kudaisya kvrinda@sph.com.sg Singapore SeedPlus, a new early stage ven-ture-investing platform was launched in Singapore, on Tuesday. The local platform is an initiative that invests and helps the growth of technology companies in Asia. SeedPlus has come from an initiative by
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    • 384 6  -  By Gladys Yeo gladyeo@sph.com.sg Singapore JOB redesign, building a strong Singaporean core and beefing up human resource capabilities will form key strategies to develop a future-ready workforce for the food-and-beverage (F&B) industry. These have been highlighted as the key initiatives
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  • Page 3 Advertisements
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  • Page 6 Advertisements
    • 92 6 In The Future, My Company Will Be... Ans: If you have been relevant and adapting to changes, you belong to the elite league of 50 future-ready enterprises that deserve to he honoured in the 2016 E50 Awards. Submit your entry online now. ENTERPRISE 'rJ Celebrating Singapore's Enterprising Spirit 2016 Enterprise
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  • COMPANIES & MARKETS
    • 657 7  -  Coupon rate for the fixed-for-life NC5 perpetuals lowered to 5.25% from an initial guidance of 5.75% because of the strong demand By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore PRUDENTIAL plc’s US$1 billion sale of perpetuals on Tuesday received orders of over US$12 billion.
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    • 499 7  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore WAREHOUSE owner Cache Logistics Trust has been dragged into a dispute between a master-lessee and its tenant at a megahub logistics property over lease renewal at a pre-agreed rental rate. The property at 51 Alps Avenue was
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    • 801 8  -  BT understands SGX has asked Technics to look into whistleblower’s allegations of insider trading by past key director By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore WITH its back against the wall after a series of claims from its Singaporelisted landlord
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    • 780 8  -  HOCK LOCK SIEW By KENNETH LIM kenlim@sph.com.sg @KennethLimBT THE penny stock volatility over the past few weeks was a timely reminder of why the need exists for a minimum trading price on the Singapore Exchange (SGX). At the very least, a
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    • 750 8  -  By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore SINGAPORE Technologies Electronics Limited (ST Electronics) on Tuesday signed a memorandum of understanding with Motorola Solutions to co-create innovative technologies for advanced secured communications in public safety, national security and enterprise sectors on the opening day
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    • 453 8  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore SINGAPORE stocks lost some ground in May following a flat performance in April. At Tuesday’s close, the total market capitalisation of some 762 Singapore listed companies was S$845.3 billion, down 0.3 per
      453 words
    • 360 8  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore THE local corporate regulator has taken further steps to prevent financial crime in Singapore, in the wake of a massive data leak on offshore trusts from Panama-based law firm Mossack Fonseca that has
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    • 1031 9  -  It plans aggressive expansion, targeting 30,000 units with 48 properties to open across the globe by 2019 By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore EVEN as Frasers Hospitality busies itself with its further expansion in Europe, works are in progress
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    • 569 9  -  By Renald Yeo yrenald@sph.com.sg Singapore FOR homegrown construction and property development firm KSH Holdings, the path to continued growth doesn’t lie in Singapore but overseas. The completion of its Liang Jing Ming Ju Phase Four Sequoia Mansion project in Beijing contributed S$15 million to the
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    • 576 9  -  The investment firm’s CEO says he wants to use the Reit to build Asia-Europe bridge for his company By leemx@sph.com.sg Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore TIKEHAU Investment Management (IM) says it has no intention to take IReit Global private. This
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    • Article, Illustration
      63 10 STI Catalist Straits Times Index May 31,2016 2,791.06 -5.69 (-0.20%) Current streak 2 days Day high 2,834.04 Day low 2,791.06 52-week high 3,373.48 (July 20, 2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist index May 31,2016 434.87 +1.12 (+0.26%) Current streak 1 day Day high 437.29 Day low
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    • 659 10  -  Selling in line with a dip in the Dow futures and a weak opening for Europe; banks at the forefront of the surge and plunge STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT MONDAY’S column raised the strong likelihood that blue chips would enjoy a month-end win-dow-dressing
      Source: Bloomberg  -  659 words
    • 305 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 229 -3 234/229 253 209 6.7 6034.8 CapitaCom Trust 139 -3 143/139 162.5 122.5 6.2 4109.3 CapitaLand 299 +2 303/298 358 267 12 3 ***** CapitaMall Trust 203 -1 208/203 224 184.5
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    • 37 10 VOLUME Cedar Strategic 108,690,200 Ezra 104,718,600 Noble 98,604,000 Global Logistic 54,531,300 HongkongLand USD 43,533,700 Market volume 2,000,129,000 VALUE HongkongLand USD 364,452,206 DBS Grp 196,194,667 Singtel 134,588,142 OCBC Bank 126,869,900 Global Logistic 98,969,817 Market value 2,001,459,000
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    • 112 10 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 284 620 288/284 343/254 284/285 IS MS INDIA US$ US686 +6 467 689/678 780/575 683/686 85.8 IS ASIA HYG US$ US1066 cd -9 95 1067/1066 1130/977 1040/1080 UETF SSE50China 196 +6 48 196/192 340/185
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    • 77 10 May 31 VALUE CLOSE BT OB/OS -43.00 -67.00 BT CADI -*****.00 +36.00 BT 10-day MA -*****.00 -4.00 FTSE ST Mid Cap 676.97 +3.49 FTSE ST Small Cap 392.18 +2.22 FTSE ST All Share 685.74 +0.73 FTSE ST China Top 162.72 +0.12 FTSE ST China 190.14 -0.04 FTSE
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    • 35 10 STI FTSE ST All-Share FTSE ST All-Share Index May 31,2016 685.74 +0.73 (+0.11%) Current streak 1 day Day high 693.00 Day low 685.74 52-week high 807.50 (June 3, 2015) 52-week low 625.37 (Jan 21, 2016)
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    • 33 10 STI MSCI EAFE MSCI EAFE index May 30,2016 1,671.49 +2.73 (+0.16%) Current streak 1 day Day high 1,671.75 Day low 1,663.27 52-week high 1,922.70 (June 22, 2015) 52-week low 1,492.43 (Feb 12, 2016)
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    • 186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 8 2 1 0 0 5 8 2 Manufacturing 31 33 27 6 7 11 37 40 38 Commerce 23 22 6 3 2 9 26 24 15 Tpt/Stor/Comms 16 15 4
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    • 123 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 22,721 557 23,278 82,288 102 82,390 Manufacturing 106,969 151,400 258,369 125,071 2,141 127,211 Commerce 137,757 33,151 170,908 152,965 1,143 154,108 Tpt/Stor/Comms 281,196 13 281,209 339,641 1 339,642 Finance 70,335 206 70,541 429,953 32 429,985 Construction
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    • 80 10 VOL CLOSE($) CHANGE China Jishan 8.2 0.150 +0.115 +328.57 Oceanus 9,171.0 0.004 +0.001 +33.33 Acma 45.6 0.435 -0.060 -12.12 SingShipping 3,659.2 0.285 -0.035 -10.94 ICP Ltd 16,900.2 0.008 +0.001 +14.29 GDS Global 101.2 0.275 -0.025 -8.33 KLW 6,000.4 0.007 +0.001 +16.67 Hoe Leong 29.9 0.042 +0.012 +40.00 United
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    • 75 10 BY CENTS CLOSE UP 52w high/low DBXT Nifty US$ ***** 998.3 6.2 *****/***** JMH USD 5700 138.1 1.8 6130/4500 GLD US$ ***** 82.9 0.5 *****/***** Lyxor MS India US$ 1485 82.9 4.2 1840/1331 Great Eastern 2165 65.0 3.1 2496/1870 BY PERCENTAGE CLOSE UP 52w high/low China Jishan 15 328.6
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    • 75 10 BY CENTS CLOSE DOWN 52w high/low DBXT iBoxxSing SG$ ***** -67.0 -0.5 *****/***** Hyflux 6% CPS ***** -38.0 -0.4 *****/***** DBXT S&P500 US$ 3617 -35.9 -0.7 3644/3126 DBXT Vietnam US$ 2299 -29.0 -0.9 2786/2017 Jardine C&C 3380 -20.0 -0.6 4520/2636 BY PERCENTAGE CLOSE DOWN 52w high/low Infinio 0.1 -80.0
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    • BROKERS’ TAKE
      • 207 10 Target price: S$3.69 May 31 close: S$3.53 OCBC Investment Research, May 31 STARHUB recently announced it will jointly invest S$200 million over the next five years to set up the Cyber Security Centre of Excellence (COE); this to grow the local cyber-security eco-system. Together with its partners including
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      • 277 10  -  Compiled by Kenneth Lim Target price: S$0.42 May 31 close: s$0.29 Maybank Kim Eng Research, May 30 WE maintain “buy” for ISEC with a higher target price of S$0.42, based on 30 times FY16 priceearnings ratio, or a 15 per cent discount to peer average. This follows
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    • 12 10 DATA I June 1 US MBA Mortgage Applications China Manufacturing PMI
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    • 436 11 CURRENCIES REUTERS London THE US dollar edged towards a two-month high against a basket of currencies on Tuesday and was on track for its strongest month in six, as expectations grew that US interest rates will rise in the coming months. Against
      REUTERS  -  436 words
    • FOREX RATES
      • Article, Illustration
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      • 471 11 May 31 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.945 4.761 0.650 5.617 48.667 98.660 0.802 8.614 2.988 1.077 75.794 33.813 0.998 11.470 0.717 23.595 25.835 0.496 0.723 Canada 1.058 5.036
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      • 2 11
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      • Article, Illustration
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      • 155 11 May 31 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 0.9982 0.9988 0.7229 0.7232 Canadian dollar 1.0558 1.0564 0.7649 0.7646 Euro 1.5367 1.5372 1.1129 1.1130 NZ dollar 0.9265 0.9270 0.6710 0.6712 Sterling pound 2.0132 2.0142 1.4580 1.4584
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      • 22 11 May 31 S$ Bid Offer 1-month 1.3814 1.3819 2-months 1.3819 1.3826 3-months 1.3827 1.3835 6-months 1.3846 1.3852 Source: OCBC
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      • Article, Illustration
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    • EQUITY BONDS WARRANTS FUTURES
      • 207 11 May 31 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 0.3 unch 6714 1 18 5 DBS MB eCW*****1 9.8 -0.1 6440 0.1 1620 5 KepCorp MB eCW*****1 7.6 -0.3 4830 0.2 600 6
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      • 377 11 In local curr In S$ In US$ dy yr dy yr dy yr May 30 Index Change Change Change Change Change Change World Preliminary 1273.5 0.1 -0.3 0.5 -1.8 0.0 0.8 EAFE Preliminary 962.0 0.4 -5.1 0.6 -5.2 0.2 -2.6 Europe Preliminary 1368.5 0.2 -3.1
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      • 390 11 May 31 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Jun16 9142.50 9495.00 9120.00 9495.00 *****3 *****6 Jul16 9002.50 9335.00 8997.50 9325.00 1548 294 NIKKEI 225 INDEX FUTURES Jun16 *****.00 *****.00 *****.00 *****.00 ***** *****3 Sep16 *****.00 *****.00 *****.00 *****.00 320 4053 MSCI TAIWAN
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    • BANK RATES
      • 154 11 May 31 $S Offer Bid 0vernight 0.04 0.02 1-month 0.7500 0.6250 2-months 0.9375 0.8125 3-months 1.0000 0.8750 Overnight mode: 0.03 US$ Offer Bid 7 days 0.48 0.38 1 month 0.50 0.40 2 months 0.65 0.45 3 months 0.75 0.55 6 months 1.10 0.90 9 months 1.30 1.10 12
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      • 69 11 May 31 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0T 0.500 01-Apr-18 98.94 99.03 98.96 5-Year NX*****X 2.250 01-Jun-21 102.19 102.50 102.25 10-Year NX*****F 2.375 01-Jun-26 98.99 99.37 99.05 15-Year NZ*****F 2.875 01-Sep-30 104.34 104.49 104.40 20-Year NZ*****V 3.375 01-Sep-33 111.39
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    • AGRI METALS ENERGY
      • 250 11 May-27 Price Net change change Last Trade Agricultural May-27 CBOT Soybeans (US cents/bu) 1086.50 6.75 0.63% 14/07/2016 CBOT Soybean Oil (US cents/lb) 31.48 0.44 1.42% 14/07/2016 CBOT Wheat (US cents/bu) 481.50 0.25 0.05% 14/07/2016 May-27 LIFFE Cocoa (£/tonne) 2210.00 43.00 1.98% 14/07/2016 LIFFE Coffee (US$/tonne) 1630.00 11.00 0.68%
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    • 1832 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Company Last Sale vol ('000) High Day 151.5 127 AIMSAMP Cap Reit 137 +0.5 241 137.5 136 0.9 8.3 871.9 Div 171.2 101 ARA Asset Mgmt 140 +5.5 1456 140
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    • 152 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Last Vol Day Div GrYld Net MCap High LOW Company Sale C000) High LOW C'vr P/E 32 16.7 t CNMC Goldmine 27 -0.5 1074 28 27 3.9 2.9 7.3 110.1 +2.5
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    • 119 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale vol 4087 2355 DBXT China50 US$ US2731 +4 2 2731 2731 7.5 High Day 1661 995 DBXT MSCHINA US$ US1174 +37 1174 1174 5677 4478 DBXT MSKorea US$
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  • Page 9 Advertisements
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  • Page 12 Advertisements
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  • REAL ESTATE
  • Page 13 Advertisements
    • 133 13 (@)JUInternational Residential Property Services +65 8125 7636 Vanessa Chan CEA Registration No. R*****3I INTERNATIONAL BUILDING THE CONCOURSE (ORCHARD ROAD) (BEACH ROAD) Office:893/ 1,184/ 1,485 1,884/ 2,551 Office: 355 to 1,417 sq ft Shop/F&B: 753 to 3,660 sq ft Also suitable for Clinic/Medical Suites Newly-renovated Office Lift Lobbies Toilets Next to
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    • 55 13 SINGLE-STOREY DETACHED FACTORY FOR SALE IN LOYANG Address 32 Loyang Drive, Singapore *****4 Land Area Approx. 80,278 sqft Gross Floor Area Approx. 48,885 sqft Tenure: 30 years with effect from 2005 Business 2, permissible plot ratio 2.5 High Ceiling, Column Free Production space Maverick Li 9069 0053 (CEA Reg No.:
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    • 65 13 RARE Freehold Historic District Temple Street 2 Adjoining Units of 3 Storey Shophouses Freehold Land Area approx. 2,658.7sf Total Floor Area approx. 8,697.3sf Zoning: Commercial Foreigners are eligible Chinatown Kreta Ayer Conservation Area L*****82K Sale By Expression of Interest Closing 3 June 2016 3pm For more enquiries, please call Lim
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  • BANKING & FINANCE
    • 491 14  -  Seven straight months of contractions overtake the period of consecutive falls from November 1999 to April 2000 By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore BANK lending in April played heavy funk and blues, with the seven months of consecutive contractions marking the longest-ever period
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    • 555 14 It says players in the sector seem oblivious to their technology inadequacies Singapore THE majority of high net worth individuals (HNWIs) believe it is important for their financial adviser or wealth manager to have a digital offering, but wealth management is one
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    • 820 14 BLOOMBERG Kuala Lumpur ONE of the worst global financial scandals is taking its toll on the world’s longest bull market run. Deepening concerns over 1 Malaysia Development Bhd, the embattled state investment fund at the centre of probes from Switzerland to
      BLOOMBERG; PHOTO: AFP  -  820 words
    • 366 14 REUTERS London STANDARD Chartered is to launch its mobile and online banking platform in eight African countries, its consumer banking chief for the region told Reuters, as the lender seeks to grow in Africa at a time when
      REUTERS  -  366 words
  • Page 14 Advertisements
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    • 116 14 OFFIC C m ASIA 2 0 16 29JUNE-1 JULY Level 1, Hall A, Sands Expo Convention Centre Marina Bay Sands, Singapore Transform your business with complimentary on-floor seminars conducted by industry experts! Building Business Capabilities for Growth Leveraging Cloud-based Technology for Small Businesses Reshape the SME Employee Experience The Role
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    • 54 14 SINGAPORE Q UALIFIERS presented by TIME TO VIE FOR A SPOT TO REPRESENT SINGAPORE AT THE WORLD AMATEUR GOLFERS CHAMPIONSHIP IN DURBAN, SOUTH AFRICA SIGN UP NOW www.tnp.sg/WAGC SINGAPORE QUALIFIERS 20, 26 JULY 2016 SINGAPORE FINALS 2 AUGUST 2016 ENTRY FEE $480 GOODIE BAG WORTH OVER $750 VENUE TANAH MERAH
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  • ENERGY & COMMODITIES
    • 487 15 Price rebound lessens likelihood of the bloc agreeing on a quota or output cut AFP Vienna A RECOVERY in the oil price to around US$50 has eased pressure on Opec (Organization of the Petroleum Exporting Countries) to turn down the taps when
      AFP  -  487 words
    • 537 15 REUTERS New York OIL traders keep a low profile. So when one of the most widely followed oil traders on Twitter abruptly closed his account last week, the outpouring of dismay among his thousands of followers was rare for the
      REUTERS  -  537 words
    • 734 15 BLOOMBERG Geneva YUSUF Alireza has gone but Noble Group Ltd’s challenges remain. The commodity trader that announced Mr Alireza’s resignation as chief executive officer on Monday as yet more assets were put up for sale, still faces the hurdle of raising about US$1 billion
      BLOOMBERG  -  734 words
  • Page 15 Advertisements
    • 1295 15 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices In the Matter of The Companies Act, Cap. 50 and In the Matter of EAST ASIA SUPPORT SERVICES PTE. LTD. (In Member's Voluntary Liquidation) (Company Registration No. *****5295C) ("the Company") On 27 May 2016, the Resolutions set out below were duly
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  • TECHNOLOGY
    • 452 16 REUTERS Shanghai CHINESE e-commerce firm Alibaba Group Holding has told vendors on its Tmall website to stop selling medicine, saying a local regulator has issued an “urgent” directive halting drug sales via third-party platforms. Alibaba, in a notice dated May 27 seen
      REUTERS  -  452 words
    • 943 16  -  Other new initiatives include using robots in preschool learning, developing ICT pros By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore SPEAKING at the opening ceremony of the Infocomm Media Business Exchange 2016 (imbX) on Tuesday, Minister for Communications and Information Yaacob Ibrahim announced three
      FILE PHOTO  -  943 words
    • 587 16 BLOOMBERG Sydney WHEN the Persian woodcutter Ali Baba found a cave full of treasure hidden in the forest, he didn’t spend it all at once. He took home just enough to live on comfortably, and passed on the secret to his children,
      BLOOMBERG  -  587 words
    • 442 16 NYT New York MANY of the world’s largest Internet companies, such as Google and Facebook, rely heavily on advertising to finance their online empires. But that business model is increasingly coming under threat, with one in five smartphone users, or almost 420
      NYT  -  442 words
  • Page 16 Advertisements
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  • CONSUMER
    • 630 17 Growth in S-E Asia will support the industry, says BBL Asset Management BLOOMBERG Bangkok OIL slumps. Middle Eastern patients cancel treatments abroad. Thai hospital stocks slide. It’s the butterfly effect in action. Weak growth outlooks in the Gulf states are prompting
      BLOOMBERG  -  630 words
    • 469 17 BLOOMBERG Prague IN a crumbling Soviet-era apartment building in Kiev, up a rattling graffi-ti-scarred elevator, Anastasia Chumak has created an oasis of comfort furnished by Ikea. The catch: There is no Ikea outlet in Ukraine. So Ms Chumak turned to a
      BLOOMBERG  -  469 words
    • 566 17 BLOOMBERG Paris THIS is how luxury is made: At the foot of the Italian Alps, rows of machines sift, comb and twist wool from cashmere goats, Merino sheep and Andean vicuna. In one aisle, a worker in a green polo and khaki pants
      BLOOMBERG  -  566 words
  • Page 17 Advertisements
    • 34 17 OPENING DOORS TO OPPORTUNITIES ■^rSTJOBS LEARNING 0 > Realise your potential and stay relevant with continuous learning. Si Find out more about the courses available on www.stjobs.sg/virtualfair from 23 May 201 t A N EVENT
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  • GOVERNMENT & ECONOMY
    • 673 18  -  Finance ministry says change reflects firm as non-operating unit, focusing on rationalisation plan and debt servicing By Pauline Ng btworld@sph.com.sg Kuala Lumpur MALAYSIA’S Finance Ministry has appointed a new three-man board of directors for 1MDB to replace the previous six-member board that had been
      673 words
    • 714 18  -  By Anthony Rowley btworld@sph.com.sg Tokyo PRIME Minister Shinzo Abe will on Wednesday announce a delay in the scheduled rise in the national consumption tax by 21/2 years, so the hike will come only in October 2019, reports said on Tuesday,
      714 words
    • 299 18 REUTERS Bangkok THAILAND’S cabinet on Tuesday approved a plan to double tax breaks for private investors this year to boost sluggish investment. The government is seeking to arrest a long and slow decline in Thailand’s share of regional foreign investment over more
      REUTERS; PHOTO: REUTERS  -  299 words
    • 489 18 REUTERS Davao City, Philippines PHILIPPINES President-elect Rodrigo Duterte on Tuesday named the members of his Cabinet, a day after a joint session of Congress declared him winner of the May 9 presidential election. The 71-year-old, tough-talking Mr Duterte
      REUTERS; PHOTO: AFP/ KING RODRIGUEZ / DAVAO CITY MAYOR'S OFFICE  -  489 words
    • 401 18 BLOOMBERG Jakarta BANK Indonesia said it’s working to maximise the potential benefits of a planned tax amnesty that may help boost economic growth to as much as 5.4 per cent this year. About 560 trillion rupiah (S$56.6 billion) will be
      BLOOMBERG  -  401 words
    • 481 19 At the summit, the topic of Beijing’s South China Sea construction is likely to lead discussions AFP Washington US Defense Secretary Ashton Carter will depart Tuesday for an Asian security summit in Singapore, where Beijing’s military expansion across the South China Sea
      AFP; PHOTO: AFP  -  481 words
    • 398 19 AFP Yangon MYANMAR’S growth rate, once one of the world’s most impressive, has dipped following heavy floods and an investment slowdown sparked by uncertainty over its political transition, the World Bank said on Tuesday. A civilian government led by veteran democracy campaigner
      AFP; PHOTO: AFP  -  398 words
    • 340 19 AFP New Delhi INDIA’S economy grew 7.6 per cent in 2015-16, official figures showed on Tuesday, retaining its place as the world’s fastest-growing major economy and providing a boost to the right-wing government as it marks two years in power.
      AFP  -  340 words
    • 311 19 BLOOMBERG Tokyo JAPANESE investment in South-east Asia continues to grow, owing to the region’s potential and low labour costs, amid simmering tensions that reduce the appeal of China for some Japanese businesses. For a third straight year, in 2015 the
      BLOOMBERG  -  311 words

  • Page 19 Advertisements
    • 242 19 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF GEO MEGA RESOURCES PTE. LTD. Reg No. *****2952K (In Creditors’ Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the
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    • 11 19 zaobao.sg WsU ff Tour Guide in the House a u. i
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    • 44 19 “Is China’s success now clearing the way for India to take flight, too? This is but one of the tantalizing possibilities Ravi Velloor puts forward in his new book.” WILLIAM PESEK executive editor, Barron’s Asia Now on sale at all major bookstores and www.stpressbooks.com.sg
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    • 52 19 comex SINGAPORE’S BIGGEST I.T. AND CONSUMER ELECTRONICS EXHIBITION BOOK YOUR SPACEI SEU. YOUR TECH PRODUCTS 6 SERVICES TO THOUSANDS OF CONSUMERS DIRECTLY 8-11 SEP 2016 SUNTEC SINGAPORE 1-3,486 TRADE-IN STAR BUYS DAMEX lRESERVE YOUR BOOTH j Tel: 6747 4620 El sales@exhibitsinc.com.sg www.comexshow.com.sg n ComexITShow ORGANISED BY: Exhibits Inc A SUBSJtXARY
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  • TRANSPORT
    • 880 20  -  COMMENTARY By Ven Sreenivasan ven@sph.com.sg @VenSreeBT Singapore AS some 1,000 aviation industry insiders, media and delegates gather for the 72nd International Air Transport Association (Iata) annual general meeting and World Air Transport Summit in Dublin this week, they do so
      880 words
    • 1230 20  -  They must be protected from the completely unacceptable and unethical pressures often put on them STRAIT TALK BY DAVID HUGHES SOMETIMES it is useful for reports to say what everybody really knows is happening, but is swept under the carpet. A new study published
      PHOTO: BLOOMBERG  -  1,230 words
    • 590 20 REUTERS Sydney VIRGIN Australia on Tuesday said China’s HNA Aviation will buy a major stake, giving a vital cash injection and greater access to the surging Chinese tourism market just as top shareholder Air New Zealand
      REUTERS; PHOTO: BLOOMBERG  -  590 words

  • Page 21 Advertisements
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    • 244 21 ENG LEE SHIPPING CO PTE LTD Tel: *****222 (10 Lines) Fax: *****174/*****960 Website: www.englee.com.sg/Email: marketing@englee.com.sg CR No: **********0C REGULAR FEEDER SERVICES TO INDONESIAN (DE1) VESSEL VOY SIN ETA SIN ETD DESTINATION FREQUENCY Marco Polo 148 BST303 02/06/2016 03/06/2016 Buatan/Buatan DAILY Marco Polo 118 PRW286 02/06/2016 03/06/2016 Perawang/Perawang DAILY Marco Polo
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  • OPINION
    • 595 22 EDITORIAL THOSE who argue that last week’s summit meeting of political leaders from the Group of Seven (G-7) economically advanced nations was longer on form than on substance miss the point that form itself is important. In
      595 words
    • 880 22  -  THE BOTTOM LINE By Jesus Felipe, Shang-Jin Wei T The writers are from the Asian Development Bank. Dr Felipe is adviser in the Economic Research and Regional Cooperation Department (ercd), and Prof Wei is chief economist and director general of ercd. IN
      880 words
    • 1160 22  -  Victory for the “Leave” camp could be a critical turning point for the EU, the catalyst for a broader process of political disintegration. By DOUGLAS WEBBER disintegration.By DOUGLAS WEBBER T The writer is a Professor of Political Science at INSEAD. The
      PHOTO: REUTERS  -  1,160 words
    • 935 23  -  COMMENTARY Naveen Menon Partner and head of Communications, Media and Technology Practice for the Asia-Pacific at AT Kearney Dear Asean leaders, AS I pen this letter, the World Economic Forum is getting ready to host a two-day meeting
      935 words
    • 903 23  -  COMMENTARY By Yogi Aggarwal T The writer is a Mumbai-based journalist. Bombay ELECTIONS to state assemblies are a pointer to the drift of national politics. If last year, the drubbing the BJP (Bharatiya Janata Party)
      903 words
    • 1091 23  -  It is premature to dismiss a bloc that controls a third of global oil production and extensive low-cost reserves. BY G PANICKER BY G PANICKER T The writer is a former BT journalist with a particular focus on energy and climate-change issues. MANY
      PHOTO: BLOOMBERG  -  1,091 words


  • LIFE & CULTURE
  • Page 24 Advertisements
  • Page 24 Miscellaneous
    • 332 24 CRYPTIC CROSSWORD Across 1 A sinful desire of one mind (6) 4 Film plot thus includes a rewrite of Racine (8) 9 Temple of a deity in Pennsylvania (6) 10 Certain kind of proof produced by a photographer (8) 12 Social worker takes one to be an opponent (4) 13
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  • Page 25 Advertisements
    • 417 25 b WJ >. ~5fc' 1 J* -r:-r*i. „*r. \T***** Corr«u«J R„ :--«04u |»r 14 34.-M41 Accoum I4**~*75(UoMcUnr) >A««untMO Moo** Ir«Jt Ao»lyK St4n Mwk«W«tth 0*0 lOOB w Trader TV 2 SyO o *****1* o ’3* 93 M 133 79 l S'22 0 :< Bo0.n|t«e4n<lt KlOSt 0. 20. -10. 2.0. S3MPU) 133.8*
      417 words
  • EXECUTIVE MONEY
    • 1129 25  -  MONEY MATTERS By Chi Lo T The writer is senior economist at BNP Paribas investment Partners DUE to the scale of China’s system, it will not be possible for Beijing to pursue a “shock therapy” to cure its structural illness like the ReaganThatcher
      Source: CEIC, BNPP IP (Asia)  -  1,129 words
    • 1002 26 ETFs that track value stocks get US$5.5b in fresh funds but it’s too early to declare victory as forces underpinning lower returns are still in place BLOOMBERG New York Exchange-traded funds that track value stocks, the ones trading cheapest to earnings and book
      BLOOMBERG; PHOTO: REUTERS  -  1,002 words

  • Page 26 Advertisements
    • 395 26 r CLEVER MOVE 2 f. FAST-MOVING CONDITIONS GRAFTED TO PERFORM ■V' •?vr^v-v 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, SPDR has
      395 words