The Business Times, 7 June 2016

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Microfilm: NL38882
Total Pages: 61
1 36 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 Tuesday, June 7, 2016
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  • Article
    Lock icon DAILY DIGEST
    124 1 Noble Group shares slide further following news that another management executive is leaving. TOP STORIES 2 Global private equity and property funds fear Brexit and recent buyers of UK property insert get-out clauses in contracts. TOP STORIES 4 The youngest son of Thai billionaire Charoen Sirivadhanabhakdi will soon
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  • Article
    Lock icon MAS proposes regulatory sandbox for fintech experiments
    811 1  -  It notes the speed at which fintech is evolving, and says existing regulatory approach can stifle process By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THE Monetary Authority of Singapore (MAS) set out its approach towards fintech experiment on Monday, as it proposed a regulatory
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  • Article
    Lock icon MARKETS
    27 1 Monday Change STI 2,831.28 +22.05 KL COMP 1,648.99 +12.53 NIKKEI 225 16,580.03 -62.20 HANG SENG 21,030.22 +82.98 SHENZHEN B 1,088.20 -0.03 DOW (11.45AM EDT) 17,923.96 +116.90
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  • Article
    Lock icon New bonds by Temasek fund could be PE ticket for retail investors
    680 1  -  The bonds will be in four classes distinguished by seniority and maturity; one of these could become a testbed for a private-equity retail offering By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore A TEMASEK Holdings-owned fund of private-equity funds is
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  • Page 1 Advertisements
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      Lock icon Page 1 Advertisements Column 1
      114 1 8 "887 1 8 1 *****1 THE BUSINESS TIMES i Powered by the Sun The World’s Largest Port-Based Solar Panel Facility Jurong Port is home to the world's largest port-based solar panel facility. 60% of Jurong Port's electrical needs are now provided by solar energy. In collaboration with Sunseap Leasing,
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      Lock icon Page 1 Advertisements Column 2
      15 1 FETING 50 YEARS OF TIES PM Lee on 3-day visit to Myanmar TOP STORIES 4
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      41 1 SWANKY CO-WORKING SPACES Collective Works’ 50:50 venture with CapitaLand sme/25 HOCK LOCK SIEW Reits in for merger wave? Unlikely COMPANIES MARKETS 8 Key man in Aberdeen Asia: Challenges and rewards Read more in Wealth magazine with your copy of BT today
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  • TOP STORIES
    • Article, Illustration
      Lock icon Noble shares sink deeper on more negative news
      747 2  -  Morningstar lowers its fair value estimate on the stock from 39 cents to 25 cents due to the group’s cash call NOBLE TUMBLES By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore SHARES in Noble Group continued their slide on Monday following news over the
      Source: Bloomberg  -  747 words
    • Article, Illustration
      Lock icon BlackRock eyes more opportunities in S’pore after Asia Square T1 sale
      1024 2  -  By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore FRESH from selling Asia Square Tower 1 for S$3.4 billion, or around S$2,700 per square foot (psf) on net lettable area (NLA), to Qatar Investment Authority, BlackRock says it is looking at Singapore
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    • Article, Illustration
      Lock icon UOB sees swift adoption of Apple Pay
      677 2  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore UOB, which has the most number of credit and debit cards in circulation in Singapore, expects mobile contactless transactions to account for 10 per cent of all its card billings by 2020, on the back of swift
      FILE PHOTO  -  677 words
    • Article
      Lock icon Tokyo officials again threaten currency market intervention
      603 2  -  By Anthony Rowley btworld@sph.com.sg Tokyo JAPANESE officials on Monday revived threats of currency market intervention with the yen back to its now-frequent bouts of instability, supporting the claim by Finance Minister Taro Aso and others that currency fluctuations are endangering recovery in the
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    • Article, Illustration
      Lock icon Global private equity, property funds fear effects of Brexit
      896 4  -  Buyers of UK property have inserted clauses in contracts that give them the right to walk away from deals By Neil Behrmann btworld@sph.com.sg London GLOBAL private equity and property funds fear the consequences of Brexit and recent buyers of UK property
      PHOTO: BLOOMBERG  -  896 words
    • Article
      Lock icon Maybank reshuffles senior managers for breadth of leadership
      448 4  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur MALAYSIA’S Maybank plans to implement a rotation of senior portfolios to strengthen and develop leadership roles within the group, with the initial changes involving three senior management positions. The changes come amidst the bank’s posting of
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    • Article, Illustration
      Lock icon France tackles security, floods, strikes head on
      776 4  -  EURO 2016 By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE eyes and ears of the world will be on France for an entire month from Friday, as the country hosts the latest edition of the European Football Championships. A record 24 nations up from
      PHOTO: AFP  -  776 words
    • Article, Illustration
      Lock icon PM Lee on 3-day visit to Myanmar
      603 4  -  The trip marks the 50th year since the establishment of Singapore’s diplomatic ties with the Asean member state By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Nay Pyi Taw, Myanmar PRIME Minister Lee Hsien Loong is in Myanmar for a three-day official visit that begins on
      LIANHE ZAOBAO  -  603 words
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Charoen’s son to helm reorganised FCL
      671 6  -  Panote Sirivadhanabhakdi has been tapped as group CEO-designate; he will be overseeing the future of developer’s international business By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore THE youngest son of Thai billionaire Charoen Sirivadhanabhakdi will soon assume the mantle at real estate developer Frasers Centrepoint Ltd
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    • Article
      Lock icon Underwater World Singapore closing
      356 6  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore UNDERWATER World Singapore (UWS) will shutter its doors with its last day being June 26, after 25 years of operation, it said on Monday. UWS is a wholly owned unit of Haw Par Corporation. “With the expiry of the lease
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    • Article
      Lock icon Otto Marine extends trading halt to assess offeror’s proposal
      191 6  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore OFFSHORE marine group Otto Marine on Monday evening said it has obtained approval to extend its trading halt by two market days, so that it can convene a board meeting to consider a proposal from
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    • Article
      Lock icon Reits headed for merger wave? Unlikely
      1011 8  -  HOCK LOCK SIEW BY LEE MEIXIAN leemx@sph.com.sg @LeeMeixianBT Oversaturation, tough operating conditions and valuation gaps have fuelled market talk that listed real estate investment trusts (Reits) could soon experience not just their first merger and acquisition (M&A), but even a wave of consolidation. But
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    • CORPORATE DIGEST
      • Article
        Lock icon Global Logistic Properties
        35 8 WAREHOUSE provider GLP has bought an 89 per cent stake in Beijing Youshan Hengrong Yanong Investment Management and Beijing Youshan Hengrong Shengyue Investment Management for 448 million yuan (S$92.5 million) in cash.
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      • Article
        Lock icon Yongnam Holdings
        20 8 STRUCTURAL steel contractor Yongnam has won two contracts worth a combined S$29.6 million in Singapore and Hong Kong.
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      • Article
        Lock icon Vallianz
        47 8 VALLIANZ has terminated a deal that would have seen China's state-owned rail corporation CRRC pick up a 13.9 per cent stake in it through S$23.7 million of equity injection. It was terminated as the parties could not agree on the terms of the commercial cooperation agreement.
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      • Article
        Lock icon Hyflux
        53 8 HYFLUX has inked a deal to sell its wholly owned unit, Hyflux Newspring (Nantong) WWTP, to state-owned Jiangsu Yangkou Port for about 52 million yuan (S$11 million). Nantong WWTP holds a wastewater treatment plant in Yangkou Port, Jiangsu province. It has been classified as held for sale since the
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    • Article
      Lock icon New tools by Citi help clients create sustainable PE portfolios
      495 8  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore PRIVATE banking clients at Citi are looking at ways to improve their pri-vate-equity portfolios, which were “disfigured” during the financial crisis as investors shunned illiquid assets at that point, said a top executive from
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    • Article
      Lock icon Asian exchanges targeting bigger share of bond trading
      663 8 REUTERS Singapore ASIA’S stock exchanges are ramping up efforts to boost liquidity in the region’s local currency bond markets as they target a greater share of fixed-income trading. Bourses from India to New Zealand are rolling out initiatives, ranging from online bookbuilding
      REUTERS  -  663 words
    • Article
      Lock icon Hatten Group brothers in RTO deal with VGO Corporation
      559 9  -  Proposed Sky Win backdoor listing will see injection of firms involved in Malacca property business, related services By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore TWO brothers from property developer Hatten Group are eyeing a backdoor listing for their privately held Sky
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    • Article
      Lock icon Oil tops US$50, but no cheer yet for O&M sector
      644 9  -  By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore OFFSHORE marine (O&M) counters will continue to experience earnings and margins pressure despite signs of sustainable oil price recovery. Analysts from UOB Kay Hian and Maybank Kim Eng pointed to limited upside for
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    • Article, Illustration
      Lock icon China not the best place to find bargains despite market selloff
      923 9 BLOOMBERG Hong Kong IT’S going to take more than the world’s deepest stock market selloff to turn China into a destination for international bargain hunters. Even after a 40 per cent tumble in the Shanghai Composite Index over the
      BLOOMBERG; PHOTO: AFP  -  923 words
    • Article, Illustration
      Lock icon Singapore IPOs of certain size get better deal than in US: study
      693 9  -  By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore COMPANIES of a certain size are able to raise more capital on the Singapore Exchange (SGX) compared to the US, as the offer price here is typically discounted to a smaller extent,
      Source: University of Wollongong  -  693 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 10 STI Catalist Straits Times Index June 6,2016 2,831.28 +22.05 (0.78%) Current streak 3 days Day high 2,833.79 Day low 2,816.89 52-week high 3,373.48 (July 20, 2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist index June 6,2016 435.08 +1.34 (0.31%) Current streak 2 days Day high 437.55 Day low
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    • Article, Illustration
      Lock icon Market shrugs off weak US jobs data
      646 10  -  STI up third day in a row, led by banks; possibility of US rate hike delay lifts Singapore equities, albeit in thin trading STOCKS By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT A FALL in Wall Street last Friday on disappointing jobs data did little to
      Source: Bloomberg  -  646 words
    • Article
      Lock icon STI STOCKS
      305 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 236 +5 236/233 253 209 6.5 6219.3 CapitaCom Trust 141.5 +1 142/140.5 158.5 122.5 6.1 4183.2 CapitaLand 304 +2 305/302 358 267 12.2 3 *****.7 CapitaMall Trust 204 +1 207/204 224 184.5
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    • Article
      Lock icon MOST ACTIVE
      35 10 VOLUME Noble 153,275,900 KLW Hldgs 40,823,100 Alliance Mineral 33,644,500 Annica 29,200,000 Imperium Crown 21,893,200 Market volume 1,333,326,000 VALUE DBS Grp 84,462,554 UOB 56,786,536 Singtel 54,779,657 OCBC Bank 37,752,473 Noble 35,949,223 Market value 837,650,000
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 10 Jun 6 VALUE CLOSE BT OB/OS -10.00 -2.00 BT CADI -*****.00 -2.00 BT 10-day MA -*****.00 -1.00 FTSE ST Mid Cap 673.82 -1.87 FTSE ST Small Cap 390.85 -1.53 FTSE ST All Share 689.60 +3.18 FTSE ST China Top 163.28 -0.41 FTSE ST China 190.52 -0.01 FTSE
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 10 STI FTSE ST All-Share FTSE ST All-Share Index June 6,2016 689.60 3.18 (0.46%) Current streak 3 days Day high 689.68 Day low 687.03 52-week high 806.37 (July 20, 2015) 52-week low 625.37 (Jan 21, 2016)
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    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 10 STI MSCI EAFE MSCI EAFE index June 3,2016 1,670.89 17.91 (1.08%) Current streak 1 day Day high 1,674.33 Day low 1,650.32 52-week high 1,922.70 (June 22, 2015) 52-week low 1,492.43 (Feb 12, 2016)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 5 5 0 1 0 6 6 5 Manufacturing 34 40 30 8 7 12 42 47 42 Commerce 17 24 13 5 3 6 22 27 19 Tpt/Stor/Comms 16 10 7
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    • Article
      Lock icon GAINERS
      73 10 BY CENTS CLOSE UP 52w high/low GLD US$ ***** 358.7 2.3 *****/***** DBXT Nifty50 ETF10 ***** 161.7 1.0 *****/***** DBXT MSKorea US$ 5245 122.3 1.7 5677/4478 JMH USD 5539 59.8 0.8 6103/4500 Jardine C&C 3383 53.0 1.6 4520/2636 BY PERCENTAGE CLOSE UP 52w high/low Infinio 0.2 100.0 0.1 0.7/0.1
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    • Article
      Lock icon LOSERS
      76 10 BY CENTS CLOSE DOWN 52w high/low Novo 45 -42.0 -48.3 89/14.8 Great Eastern 2150 -26.0 -1.2 2496/1870 DBXT MSEurope US$ 5446 -25.8 -0.3 6127/4770 DBXT MSJAP US$ 4720 -25.8 -0.4 5224/4031 IS ASIA HYG S$D 1456 -17.0 -1.2 1499/1407 BY PERCENTAGE CLOSE DOWN 52w high/low LifeBrandz 0.2 -50.0 -0.2
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    • Article
      Lock icon UNUSUAL ACTIVITY
      81 10 VOL CLOSE($) CHANGE Novo 4.7 0.450 -0.420 -48.28 Lung Kee Bermuda 12.5 0.165 +0.025 +17.86 Global Testing 104.1 1.130 +0.205 +22.16 Dutech 2,573.6 0.455 +0.060 +15.19 KLW 40,823.1 0.008 +0.001 +14.29 Hoe Leong 260.2 0.025 -0.006 -19.36 Infinio 299.8 0.002 +0.001 +100.00 Leader Env 2,006.4 0.046 +0.005 +12.20
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    • BROKERS’ TAKE
      • Article
        Lock icon Straits Times index
        81 10 DBS Group Research, June 6 The STI’s gradual rise from 2,700 to 2,800 over the past three weeks is in line with our expectation for a 2,700 to 2,835 range. STI’s rise will likely stay guarded pending the June 15 Federal Open Market Committee meeting and June
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      • Article
        Lock icon Noble Group | Ceasing Coverage
        185 10 Noble Group Ceasing Coverage June 6 close: S$0.235 OCBC Investment Research, June 6 Noble Group proposed a 1 -for-1 rights issue at S$0.11 each to raise US$522 million (S$696.1 million net). It intends to use 20 per cent of proceeds to repay part of its syndicated loan facilities, 80 per
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      • Article
        Lock icon M1|Buy
        172 10  -  Compiled by Cai Haoxiang June 6 close: S$2.50 Target price: S$2.60 DBS Group Research, June 3 The stock has declined 40 per cent since February 2015. It is the cheapest in the region at 13 times forecast 2016 earnings. M1’s share price has declined in anticipation of the entry
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    • Article
      Lock icon SGX ETFs
      106 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 288 +2 493 289/286 343/254 287/288 CIMBASEAN40 US$ US824 +4 250 825/820 957/700 824/837 129.2 IS MS INDIA US$ US688 +1 104 695/688 780/575 688/691 86 DBXT MSPHILS US$ US210.1 +3.9 40 210.1/210.1 213.9/158.5
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 8,689 119 8,808 27,431 22 27,453 Manufacturing 74,344 103,282 177,626 83,010 1,432 84,443 Commerce 179,303 9,556 188,859 83,522 284 83,807 Tpt/Stor/Comms 74,331 161 74,492 124,771 13 124,784 Finance 23,464 10 23,474 190,546 2 190,548 Construction
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    • Article
      Lock icon US$ recovers as rate-hike chance dims on poor jobs data
      481 11 CURRENCIES REUTERS London THE dollar rose on Monday, having hit more than three-week lows against a basket of major currencies after a poor employment report prompted investors to rule out the chance of a hike in US interest rates in
      REUTERS  -  481 words
    • FOREX RATES
      • Article, Illustration
        Lock icon HANG SENG
        2 11
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      • Article
        Lock icon INTERBANK CROSS RATES
        471 11 Jun 6 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.953 4.834 0.648 5.720 49.280 98.530 0.789 8.579 3.018 1.062 77.046 34.035 1.001 11.124 0.719 23.805 25.980 0.510 0.736 Canada 1.049 5.072
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 11
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      • Article, Illustration
        Lock icon NIKKEI
        1 11
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      • Article, Illustration
        Lock icon DOW JONES
        2 11
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 11 Jun 6 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0003 1.0011 0.7363 0.7365 Canadian dollar 1.0494 1.0503 0.7727 0.7724 Euro 1.5434 1.5447 1.1360 1.1364 NZ dollar 0.9422 0.9432 0.6935 0.6939 Sterling pound 1.9629 1.9647 1.4448 1.4454
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      • Article
        Lock icon us$/s$ FORWARD RATES
        21 11 Jun6 S$ Bid Offer 1-month 1.3590 1.3600 2-months 1.3597 1.3605 3-months 1.3604 1.3613 6-months 1.3621 1.3631 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        393 11 Jun 6 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Jun16 9400.00 9457.50 9325.00 9357.50 *****5 *****5 Jul16 9265.00 9380.00 9205.00 9227.50 1030 2273 NIKKEI 225 INDEX FUTURES Jun16 *****.00 *****.00 *****.00 *****.00 *****7 *****5 Sep16 *****.00 *****.00 *****.00 *****.00 ***** ***** MSCI TAIWAN
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        209 11 Most active Jun 6 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left STI 2800 MB ePW*****1 6.8 -0.6 8438 0.0 2 FTSEChinaA50 9500 MBeCW*****0 11.7 -0.8 5410 0.0 2 DBS MB eCW*****1 10.2 0.7 5105 0.1 1620 4 UOB
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        377 11 In local curr In S$ In US$ dy yr dy yr dy yr Jun 3 Index Change Change Change Change Change Change World Preliminary 1265.0 -0.3 -1.0 -0.9 -3.3 0.2 0.8 EAFE Preliminary 945.6 -0.2 -6.7 0.0 -6.6 1.1 -2.6 Europe Preliminary 1344.3 -0.5 -4.8
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 11 Jun 6 $S Offer Bid 0vernight 0.05 Par 1-month 0.7500 0.6250 2-months 0.9375 0.8125 3-months 1.0000 0.8750 Overnight mode: 0.125 US$ Offer Bid 7 days 0.50 0.40 1 month 0.50 0.40 2 months 0.65 0.45 3 months 0.80 0.60 6 months 1.10 0.90 9 months 1.30 1.10 12
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      • Article
        Lock icon GOVERNMENT SECURITIES
        67 11 Jun 6 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0T 0.500 01-Apr-18 99.20 5-Year NX*****X 2.250 01-Jun-21 103.28 103.35 103.25 10-Year NX*****F 2.125 01-Jun-26 100.43 100.55 100.32 15-Year NZ*****F 2.875 01-Sep-30 106.61 106.98 106.98 20-Year NZ*****V 3.375 01-Sep-33 113.78 114.35 114.17
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 11 Jun-3 Price Net change change Last Trade Agricultural Jun-3 CBOT Soybeans (US cents/bu) 1132.00 -12.25 -1.07% 14/07/2016 CBOT Soybean Oil (US cents/lb) 32.26 unch 0.00% 14/07/2016 CBOT Wheat (US cents/bu) 497.25 11.75 2.42% 14/07/2016 Jun-3 LIFFE Cocoa (£/tonne) 2241.00 -8.00 -0.36% 14/07/2016 LIFFE Coffee (US$/tonne) 1641.00 9.00 0.55%
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    • Article
      Lock icon SGX MAINBOARD
      1793 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Company Last Sale Vol ('000) High Day 151.5 127 AIMSAMP Cap Reit 138 unch 41 138 137 0.9 8.2 878.3 Div 170.7 101 ARA Asset Mgmt 137 -3 809 139.5
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    • Article
      Lock icon SGX CATALIST
      288 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Last vol Day Div GrYld 0.9 0.2 t Advanced Systems 0.2 unch 1 0.2 0.2 5.3 MCap High LOW 19.9 8.3 t Anchor Resources 10 +0.3 4759 10.3 9.9 28 Sale
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    • Article
      Lock icon SGX ETF
      150 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale 1294 991 CIMBASEAN40 S$D 1129 +13 0 1129 1129 957 700 CIMBASEAN40 US$ US824 +4 250 825 820 129.2 ('000) 362 190 DBXT MSBrazil US$ US295 +8 20
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  • Page 6 Advertisements
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      Lock icon Page 6 Advertisements Column 1
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
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  • Page 8 Advertisements
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      Lock icon Page 8 Advertisements Column 2
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      Lock icon Page 8 Advertisements Column 3
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      96 9 AccountServe A Stone Forest Company Globally Connected RSM Need Help with XBRL Reporting? 24 Hrs -*r 8,000 turnaround time* reports since Nov 2007 *Terms conditions apply NOTICES PAZZI INVESTMENT HOLDING LTD (In Voluntary Liquidation) (Company No. *****43) NOTICE is hereby given pursuant to Section 204, subsection (1)(b) of the BVI
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  • Page 12 Advertisements
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      71 12 ON THIS OPPORTUNITY Reach out to investors and affluent readers in this Investor Information Page. Advertise at less than $5,800 per full colour ad (a special package for 4 leading newspaper titles The Straits Times, The Business Times, Lianhe Zaobao and The New Paper Sunday). Contact our Sales Team now!
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  • Article, Illustration
    Lock icon ‘Uberisation’ of professional services brings challenges and opportunities
    1154 13 Law and accounting firms have to adapt and make use of technology early, not shun it until their fields are disrupted, says a panel of experts THINK BIG LEADERSHIP SERIES 2016 DESPITE being relatively shielded from disruptive forces, law and accounting firms
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  • Article
    Lock icon Facing the challenge
    605 13 IMAGINE having a will drafted for a mere US$69 (S$95), instead of $3,000 or more at a law firm. That is possible in the United States with online legal services such as Legalzoom, which bypass traditional law firms to provide legal services to consumers. Presenting that as
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  • Article, Illustration
    Lock icon The Law Firm of the Future
    194 13 “The extent to which there will be widespread disruption to law firms depends on the extent to which deregulation or ‘uberisation’ of legal services takes place. If the provision of legal services moves towards an ‘uberised’ model, law firms are likely to face increased
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    Lock icon Ultimately, it’s about adoption
    327 13 IF someone has to spend so much time looking for information at a place where talent and knowledge are the cornerstone of his practice, then something can be improved. Staff could serve customers faster and more efficiently. That was one issue that was faced by PwC
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  • REAL ESTATE
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      19 14 Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices
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  • BANKING & FINANCE
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      Lock icon Investors miffed at S&P for keeping Asia’s best debt at junk
      675 15 Debt assessor keeps Indonesia below investment grade after affirming its BB+ rating and positive outlook BLOOMBERG Kuala Lumpur INVESTORS have kept faith in Asia’s best-performing sovereign bond market after S&P Global Ratings left Indonesia at junk status. One fund
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      Lock icon SoftBank gets serious about tackling debt
      754 15 BLOOMBERG Tokyo AFTER years of acquisitions saddled SoftBank Group Corp with record debt and weighed down its stock, founder Masayoshi Son is getting serious about improving the company’s balance sheet. SoftBank has announced a series of asset sales as part of a broader effort
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      Lock icon Lotte hotel unit’s 5.7t won IPO faces fresh setback on bribery probe
      653 15 BLOOMBERG Seoul LOTTE Group’s hotel unit is facing delays with its initial public offering (IPO) after the South Korean company and a member of its founding family became embroiled in a bribery probe, people familiar with the matter
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      17 15 Discover Greener Pastures Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices
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  • ENERGY & COMMODITIES
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      Lock icon Denmark scares off investors after energy agenda is jettisoned
      616 16 The government wants to scrap an electricity tax that has helped subsidise wind turbines since 1998 BLOOMBERG Copenhagen IT was the first country ever to venture into offshore wind power. Now, Denmark is scaring off potential investors by abandoning some of
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      Lock icon Malaysia palm oil reserves seen slipping to 2-year low
      477 16 BLOOMBERG Kuala Lumpur PALM oil inventories in Malaysia probably shrank to the lowest in almost two years as demand rose ahead of Muslim festivals and the lingering effect of El Nino hindered a recovery in production. Stockpiles fell 7.8 per cent
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      Lock icon Optimism masks Iran risk to oil rally from 12-year low
      618 16 BLOOMBERG Hong Kong OIL’S recovery from a 12-year low may be too good to last as Iranian output rebounds faster than expected. Opec last week stuck to its policy of unfettered production, deciding against a new output ceiling as the
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  • TECHNOLOGY
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      Lock icon Line plans year’s biggest technology IPO, pitching US investors
      881 17 It aims to go public in Tokyo and New York in July, with a goal of raising up to US$2b BLOOMBERG Tokyo JAPAN’S Line Corp is headed for what could be the biggest initial public offering (IPO) for a technology company
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      Lock icon Trade show Computex fades in post PC era
      781 17 BLOOMBERG Hong Kong THE Computex trade show used to be a hot ticket, with flashy music acts and technology industry luminaries. Now? Those who show up bemoan the decline of PCs (personal computers) and its many dependents. Walking the subdued floors found
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      657 17 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices IN THE HIGH COURT OF MALAYA IN JOHOR BAHRU IN THE STATE OF JOHORE CIVIL SUIT NO: JA-22NCvC-43-03/2016 Between PERFECT FRONTAGE SDN BHD (Company No. *****37-K) …Plaintiff and 1. TAT HOCK INDUSTRIAL SDN BHD (Company No.: *****3-T) 2. CHUA KOK IT
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      895 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF TOP SHEEP PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****2026C NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the members of TOP SHEEP PTE. LTD. deemed to have been duly convened and held
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  • CONSUMER
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      Lock icon Singapore malls turn quiet with retailers hit on multiple fronts
      1055 18 Weakness in local economy, drop in tourist spending, space oversupply, strong S$ among factors cited REUTERS Singapore AFTER serving only a handful of customers in five hours on a recent weekday, Sam Goh said he was worried the sportswear shop
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      Lock icon Some bladder cancer patients benefit from Roche therapy
      500 18 REUTERS Chicago A NEWLY approved immunotherapy from Roche Holding proved effective as an initial treatment for some patients with advanced bladder cancer, according to data presented on Sunday. Results of the mid-stage trial could help make the case that the drug, Tecentriq,
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    • Article
      Lock icon Cultivating brand loyalty in even the toughest customer
      985 18 NYT New York AMERICANS are both more loyal and more fickle than ever before, judging by the number of customer rewards cards they have and the number they actually use. Households, on average, hold membership in 29 loyalty programmes across the retail,
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      229 18 Hosted by: The Asian Consumer of Tomorrow Know your target: Their lifestyles, trends, behaviours, attitudes and expectations. Discover Join us as we discover the future worlds of Asian consumers and understand the dramatic shifts in the perceived challenges, concerns, hopes and expectations of Asian consumers over the next few years
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  • GOVERNMENT & ECONOMY
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      Lock icon Defiant Sanders signals intention to fight on at Democratic convention
      654 19 He is lobbying superdelegates to withdraw support from Hillary and back him instead NYT BLOOMBERG West Hollywood, California BERNIE Sanders defiantly vowed again on Sunday to take his campaign to the Democratic National Convention this summer, even as Hillary Clinton
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      Lock icon S Arabia races through financial toolkit to raise funds
      1085 19 REUTERS AFP Dubai SAUDI Arabia’s plans to bolster its finances are taking on a new sense of urgency as lower oil prices put the economy under more strain than at any other time in the past decade. In recent weeks, the
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      Lock icon US urges China to be ‘more adept’ at policy communication
      535 19 BLOOMBERG Beijing CHINA must improve monetary policy communication as it takes on an increasingly large role in the global economy, US Treasury Secretary Jacob Lew said ahead of talks in Beijing between the two countries. Market gyrations following the People’s
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      Lock icon India seeks to tackle stressed loans without backlash
      407 19 REUTERS New Delhi INDIA’S Finance Minister Arun Jaitley said on Monday that state bankers would propose a mechanism to reach “commercially prudent” loan settlements, as the government and lenders met to discuss how to tackle the country’s bad loan problem. The proposal
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  • TRANSPORT
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      Lock icon Hollande says transport strikes must not disrupt Euro 2016
      645 20 French president’s statement raises pressure on militant CGT union to call off ongoing action REUTERS Paris PRESIDENT Francois Hollande said on Sunday it would be incomprehensible if transport strikes were to disrupt the Euro 2016 football tournament that opens in France
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      Lock icon Jaguar Land Rover suing China carmaker over Evoque copycat: source
      551 20 REUTERS Beijing JAGUAR Land Rover (JLR) is suing Chinese carmaker Jiangling Motor for allegedly copying the British firm’s Range Rover Evoque, a person with direct knowledge of the matter said a rare move by a foreign carmaker to fight copycats
      REUTERS; PHOTO: REUTERS  -  551 words
    • Article
      Lock icon Several hurt by turbulence on Malaysia Airlines flight
      279 20 AFP Kuala Lumpur AN unspecified number of passengers and crew were injured when a Malaysia Airlines flight from London to Kuala Lumpur was hit by severe turbulence, the carrier said, as photos emerged showing a cabin strewn with debris and upended meal
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      Lock icon Tesla challenger in China plans to debut 700,000-yuan electric roadster
      806 20 BLOOMBERG Tokyo ONE of China’s biggest homegrown automotive design firms is taking the plunge into producing its own electric roadster, seeking to stand out from the gaggle of Chinese electric vehicle startups, as well as Tesla Motors Inc, by making
      BLOOMBERG; PHOTO: REUTERS  -  806 words
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      968 21 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville APL Columbus V010E 23 May 06 Jun 22 Jun 26 Jun 29 Jun 01 Jul 03 Jul 06 Jul 08 Jul 10 Jul 10 Jul 15 Jul APL Columbus
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  • OPINION
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      Lock icon Malaysia’s hudud bill doesn’t bode well for racial ties
      656 22 EDITORIAL A dramatic development emerged last week in Malaysia’s race-based political system, with some partners in the ruling coalition threatening to quit over a Bill to enhance the powers of the Islamic courts. Six Cabinet ministers from Chinese-based and Indi-an-based parties
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      Lock icon For many anti-Brexit voices, it’s not for UK people’s sake
      803 22  -  THE BOTTOM LINE By David Mason T The writer, a former audit firm partner, is a business communications consultant in the UK. THE UK referendum on whether to stay in the European Union (EU) or to leave it is now
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      Lock icon US should make bolder moves in the S China Sea
      1327 22  -  Its naval excursions are only a temporary response to Beijing’s move to reclaim permanent islands and install equipment in the South China Sea. BY HARRY J KAZIANIS Sea.BY HARRY J KAZIANIS T The writer is a senior fellow for Defence
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      Lock icon Trump’s success and Obama’s disdain
      925 23  -  COMMENTARY By Darrell Delamaide The writer is an editor based in Washington and a member of the official Monetary and Financial Institutions Forum’s (OMFIF) Advisory Board. This is part of OMFIF’s series of commentaries on the US presidential election on Nov 8 Washington US PRESIDENT
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      Lock icon Indonesia: on the cusp of a sustainable economic revival
      735 23  -  By Euben Paracuelles T The writer is senior economist, South-east Asia, at Nomura. He is a speaker this week in Singapore at Nomura Investment Forum Asia, the company’s annual flagship conference in the region INDONESIA’S economic growth over the last few
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      Lock icon The long march to the future economy
      1294 23  -  While govt should sweat the big stuff, a less interventionist approach on the small stuff will probably serve Singapore well.BY JOSEPH CHERIAN AND LEE KANG well.BY JOSEPH CHERIAN, LEE KANG HOE T Joseph Cherian is practice professor of finance and director of the
      PHOTO: TERENCE TAN/THE STRAITS TIMES  -  1,294 words
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  • LIFE & CULTURE
  • Page 24 Miscellaneous
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      291 24 CRYPTIC CROSSWORD Across 7 Piffle I spread about love story (4,2,2) 9 Seen in bistro, January’s ‘most industrious worker’ (6) 10 At university, rower across river causes pandemonium (6) 11 Parsimony of girl in canteen (8) 12 Dish of grouse a winner at Waterloo (4,10) 15 Genius present (4) 17
      291 words
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  • SME
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      Lock icon The art of collecting members and spaces
      1778 25  -  Collective Works CEO lifts the veil on the firm’s swanky co-working space, a 50:50 venture between his company and CapitaLand. CapitaLand.BY MINDY TAN tanmindy@sph.com.sg @MindyTanBT ON the 12th floor of Capital Tower in Singapore’s central business district (CBD), a set of conventional glass
      PHOTO OF CEO: AIDAN LOO OTHER PHOTOS: AKA ASIA  -  1,778 words
    • Article
      Lock icon How to raise your prices and keep your customers
      714 25  -  By John Bittleston T The writer is the founder mentor of Terrific Mentors International (http://www.TerrificMentors.com), an organisation that provides mentoring, coaching and training. ALL businesses need to raise their prices from time to time. There are many reasons higher costs, improved
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      558 26 Andres Iniesta (Spain) LAVIVE EURO2016 Harry Kane (England) GROUP A MATCH 01 FRANCE ROMANIA W D L GD Pts MATCH 02 ALBANIA SWITZERLAND FRANCE r JUNE 11 0300 MATCH 14 JUNE 11 2100 ROMANIA SWITZERLAND MATCH 15 FRANCE ALBANIA ROMANIA FRANCE ROMANIA ALBANIA SWITZERLAND JUNE 16 0000 JUNE 16 0300
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      35 1 JUNE 2016 SPOTLIGHT HUGH YOUNG The brains of the Asian fund business ROUNDTABLE Trends vs Noise: How to spot the difference REAL ESTATE Trophy assets are still hot PHILANTHROPY The private bank route to giving
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      137 2 / 3 Acces all areas, in all areas Trade on the move with our Next Generation mobile app We believe our clients deserve the ultimate trading experience, wherever they are. Our fast, intuitive trading apps are custom-built to deliver real-time, advanced order functionality, a live market calendar with push alerts and much
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      73 4 CONTENTSjune 16 SPOTLIGHT 12 The brains behind the business Doing what he enjoys, Aberdeen Asset Management Asia’s Hugh Young has risen steadily and surely to be a top fund manager PHILANTHROPY 16 Trusted route to giving Private banks offer information and support to help clients get started TRUSTED ADVISER 17
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      3 4 model 12 10
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      52 5 Credit Suisse Is your Private Banker on speaking terms with your Investment Banker? Discover how you can benefit from having Private Banking and Investment Banking integrated under one roof at credit-suisse.com/collaboration l > VV. > I V, V, > > V TrW yj\ ''Wik l 1 i 1 /ri c
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      2 6 30 18
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      157 6 IN-DEPTH 18 Ageing with grace The Mental Capacity Act and lasting power of attorney offer important safeguards for an ageing society ROUNDTABLE 20 In sync with market trends Our panellists share insights on understanding key trends and tuning out market noise in a volatile environment FOREIGN EXCHANGE 25 Making FX
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      236 7 IN A CHANGING WORLD, BUSINESS AND FAMILY TAKE THE SAME DIRECTION Li 3 < <Sv 11 > i j *«<;*i r.iUM.iUMt iMt t !nm,i: t GKiHtnniMtiMi mi tut ten »i <wi in, iH>aniHi ten 111! 11 1 <# Af\{\{\{\\ V V W TO l < v a a M} v
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      51 8 32 LIFESTYLE 32 The ultimate in jet setting Private planes that tailor the business or leisure travel experience the way~~ no commercial flight can ULTRA WEALTH 34 Planting the seed of change Tycoon Lui Che Woo aims to make the world better with the HK$60 million Lui Prize for World
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      52 9 Standard Chartered Private Bank You seek new horizons Across Asia, Africa and the Middle East, our deep market knowledge can connect you to business and wealth opportunities. Mm M, 1 re II V 0 i sc.com/privatebank Here for good Standard Chartered Private Bank is the private banking division of Standard
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  • THE BUSINESS TIMES Wealth
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      Lock icon Editor’s note
      770 10  -  By Genevieve Cua OR someone who did not take to investing naturally, Aberdeen Asset Management Asia’s managing director Hugh Young has done enviably well. He read politics in university and took a job at a London brokerage firm as an analyst, because the UK foreign office “wouldn’t have
      ISTOCK ILLUSTRATION:  -  770 words
    • SPOTLIGHT HUGH YOUNG
      • Article, Illustration
        Lock icon The brains behind the business
        2061 13  -  Doing what he enjoys, Aberdeen Asset Management Asia’s Hugh Young has risen steadily and surely to be atop fund manager By Genevieve Cua ENTION Aberdeen Asset Management in Asia, and Hugh Young, portly investment veteran of more than 35 years, easily comes to mind. Mr
        PHOTO: ARTHUR LEE; PHOTOS: ARTHUR LEE  -  2,061 words
    • PHILANTHROPY
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        Lock icon Trusted route to giving
        1130 16  -  Private banks offer information and support to help clients get started By Genevieve Cua O you have a desire to help children, or to fund a social enterprise in Singapore or anywhere in the world? It is likely that your private bank can help you get
        PHOTOS: UBS  -  1,130 words
    • TRUSTED ADVISER
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        Lock icon Sharing common interests
        1164 17  -  Pictet’s Claude Haberer believes the Swiss private bank’s business model is one that appeals to its desired clientele in Asia By Genevieve Cua C AREER banker Claude Haberer’s first banking job and first overseas posting to boot was in Singapore in 1980 for French bank BNP. Today
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    • IN-DEPTH
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        Lock icon Ageing with grace
        1413 18  -  The Mental Capacity Act and lasting power of attorney offer important safeguards for an ageing society By Chua Yee Hoong, Julia Abrey, Gopalan Raman Chua Yee Hoong is Partner, Withers KhattarWong; Julia Abrey is Partner, Withers Worldwide; and Gopalan Raman is Senior Consultant, Withers KhattarWong S INGAPORE
        PHOTO: ISTOCK  -  1,413 words
    • ROUNDTABLE
      • Article, Illustration
        Lock icon In sync with market trends
        3825 20 Our panellists share insights on understanding key trends and tuning out market noise in a volatile environment UN CERTAINTY abounds this year as global growth slows and markets remain volatile. We ask our panellists how they help investors discern between investment trends and noise. Genevieve
        ILLUSTRATION: ISTOCK  -  3,825 words
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        Lock icon THE BUSINESS TIMES’ WEALTH ROUNDTABLE
        219 20 Genevieve Cua, BT Wealth Editor poses questions to wealth experts for investment ideas that have worked well for portfolios sofarin2016. Marc Van de Walle is Bank of Singapore Global Head of Products. Marc has responsibility for the product platform on which all wealth management solutions
        219 words
    • FOREIGN EXCHANGE
      • Article, Illustration
        Lock icon Making FX carry trades work
        967 25  -  Choose a carry currency not just for yield but for its attractive long-term value By Heng Koon How Heng Koon How is CAIA Senior Investment Strategist (FX), Private Banking Asia Pacific, Credit Suisse W A N FX (foreign exchange) carry trade used to be a
        W; Sountec Bloomberg, Credit Suisse/IDC; Source: Credit Suisse/IDC; ILLUSTRATION: ISTOCK  -  967 words
    • ASIAN EQUITIES
      • Article, Illustration
        Lock icon Seeking out the aces
        969 26  -  Instead of ‘buy and hold’, an active approach to investing in the region may be more rewarding By Lim Chew Hwee Lim Chew Hwee is Head of Asia Equity Strategy, ABN AMRO Private Banking Asia Middle East INCE the global financial crisis, Asia has been struggling
        ILLUSTRATION: ISTOCK  -  969 words
    • GLOBAL ECONOMY
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        Lock icon Buying time to revive growth
        1063 27  -  Debt forgiveness may be the interim solution for the world’s economic malaise By Steve Brice Steve Brice is Chief Investment Strategist, Wealth Management, Standard Chartered Bank T HERE is a growing perception that monetary policy is losing its power to solve the world’s economic problems.
        ILLUSTRATION: ISTOCK  -  1,063 words
    • VIEWPOINT
      • Article, Illustration
        Lock icon May’s the time to sell?
        1110 28  -  Outperforming the market simply by following a set of rules is a tough goal for investors to achieve Leonardo Drago Co-founder AL Wealth Partners AL Wealth Partners is an independent Singapore-based company providing fund management and advisory services to accredited investors “S ELL in May
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    • REAL ESTATE
      • Article, Illustration
        Lock icon Trophy assets in demand
        1278 30  -  Super prime properties in prominent global cities will continue to be highly sought after by the ultra-rich worldwide Tay Kah Poh Executive Directorand Head, Residential Services, Knight Frank Singapore Debbie Lam Manager, Consultancy Research, Knight FrankSingapore HE number of ultra high net worth individuals (UHNWIs), commonly
        PHOTO: GUOCOLAND; Source: REALIS, Knight Frank Research  -  1,278 words
    • LIFESTYLE
      • Article, Illustration
        Lock icon The ultimate in jet setting
        1143 32  -  Private planes that tailor the business or leisure travel experience the way no commercial flight can By Rahita Elias FORMULA 1 champion Lewis Hamilton owns one. Madonna caused quite a furore when she decided to charter one. Welcome to the world of private jet travel.
        PHOTO: VICTOR; PHOTO: EXECUTIVE JETS ASIA  -  1,143 words
    • ULTRA WEALTH
      • Article, Illustration
        Lock icon Planting the seed of change
        1130 34  -  Tycoon Lui Che Woo aims to make the world better with the HK$60 million Lui Prize for World Civilisation Tara Loader Wilkinson Editor in Chief, Billionaire ITH a fortune of more than US$8 billion, Lui Che Woo is one of the wealthiest men in Hong
        PHOTO: K WAH GROUP  -  1,130 words
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      204 11 Vision Precision A powerful combination the drive you demand At UBP, we offer a broad range of investment strategies, tailor-made to suit your unique personal requirements. Private Banking Asset Management Treasury Trading www.ubp.com Past performance is not a guide to current or future performance. The value of investments, and the
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      552 14 ORGANISATION CONTACT DETAILS Premier Financial Institutions Tel +65 6597 8866 www.abnamroprivatebanking.com DESCRIPTION Tel +65 6559 8000 www.bankofsingapore.com ABN AMRO Private Banking has a mature local presence in more than 10 countries worldwide. Within Asia and Middle East, ABN AMRO currently has three private banking centres in Singapore, Hong Kong and
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      29 15 Asset Management Wealth Management Asset Services Entrepreneurs shouldn’t have to be their own wealth managers. >■ M PICTET 1805 Hong Kong: +852 3191 1805 Singapore: +65 6536 1805 group, pictet
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      87 19 Building a legacy, one step at a time. #1 Most Reputable and Financially Stable Private Bank in Asia. Asiamoney Polls 2014 2015. Your success today was built on the bedrock of your dedication. Like you, we believe that what matters most are trust, knowledge and opportunity to protect your legacy
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      108 35 BANKOFSINGAPORE Asia's global private bank What can we give a man who has everything? y, a I M f We give him the time to give back. Our strong team of specialists works to offer and provide quality advice and the right solutions to help you achieve your financial goals.
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