The Business Times, 9 August 2016

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Microfilm: NL33935
Total Pages: 34
1 36 The Business Times
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  • Title Section
    Lock icon Masthead
    19 1 THE BUSINESS TIMES www. usinesstimes.com.sg TUESDAY, AUGUST 9, 2016 S$1.20 MCI (P) 052/08/2016 sch A SINGAPORE PRESS HOLDINGS PUBLICATION
    19 words
  • Article, Illustration
    Lock icon DBS’s oil & gas exposure up by another S$1b
    1004 1  - DBS’s oil gas exposure up by another S$1b Of the S$23b exposure, S$7b is to riskiest sector; Group’s Q2 profit slides 6% to S$1.05b By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore DBS Bank’s total oil gas exposure has increased to S$23 billion, up S$1 billion due to more trade finance
    1,004 words
  • Article, Illustration
    Lock icon Three fresh challenges to test Singapore’s unity: PM Lee
    671 1  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THERE are three new challenges ahead for Singapore that will test the country’s resolve to remain united, said Prime Minister Lee Hsien Loong in his National Day Message. He called on all Singaporeans to band
    PHOTO: MINISTRY OF COMMUNICATIONS AND INFORMATION  -  671 words
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  • TOP STORIES
    • Article, Illustration
      Lock icon CONTENTS
      36 2 NEWS Top Stories 2-9 Companies Markets 10-14 Real Estate 15-16 Banking Finance 17 Energy Commodities 18 Technology 19 Consumer 20 Govt Economy 21-29 Transport 30 Shipping Times 31 Opinion 32-33 Life Culture 34 SME 35-36
      36 words
    • Article, Illustration
      Lock icon Another good run ahead; Or a path littered with obstacles?
      887 2  -  In a BT poll of CEOs, just half are confident that the current generation can do better than the previous one SINGAPORE AT 51 By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore AS Singapore turns 51, business leaders here are under no
      Source: The Business Times 'Singapore beyond 50' survey, for which 51 business leaders in Singapore were polled  -  887 words
    • Article
      Lock icon MARKETS
      136 2 GSTI 2,870.78 (+42.61) GSTI FUTURES 2,854.00 (+43.00) GSIMSCI 316.50 (+4.50) GSIMSCI FUTURES 315.85 (+5.30) STOCKS Monday Change KL COMP 1,672.68 +8.64 NIKKEI 225 16,650.57 +396.12 HANG SENG 22,494.76 +348.67 SET 1,542.26 +23.57 JAKARTA 5,458.98 +38.73 MANILA 7,993.58 +23.23 KOSPI 2,031.12 +13.18 SHENZHEN B 1,156.23 +6.77 MUMBAI 28,182.57 +104.22 11.45
      136 words
    • Article
      Lock icon Next lap: to be more open, diverse, inclusive
      587 4  -  BT poll of CEOs finds that as Singapore advances socially, its population should be informed, engaged and consulted SINGAPORE AT 51 By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore AS the Republic adapts to a new economic normal, it must also evolve into an
      587 words
    • Article, Illustration
      Lock icon Former civil service head to receive Distinguished Service Order award
      461 5  -  A total of 3,959 recipients will receive National Day honours this year SINGAPORE AT 51 By Renald Yeo yrenald@sph.com.sg Singapore THE former head of the civil service in Singapore, Peter Ho, is to be awarded one of the nation’s highest
      PHOTO: URBAN REDEVELOPMENT AUTHORITY  -  461 words
    • Article
      Lock icon Better margins, loan growth, non-interest income cushion DBS against Swiber fallout
      954 6  -  But bank expects contagion from Swiber and has flagged weakness in S$900m exposure By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore THE three local banks’ second quarter results were not expected to be exciting, rather a confirmation that loans, margins
      954 words
    • Article, Illustration
      Lock icon S’pore to get Deliveroo’s ‘remote kitchen’ model
      555 7  -  Food delivery startup raises US$275m in latest funding round By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore THE Republic has just become a new hot spot in the global escalating war of food delivery apps. London-based food delivery startup Deliveroo fresh from being served US$275
      555 words
    • Article, Illustration
      Lock icon Japanese emperor’s possible abdication raises issues
      825 7  -  By Anthony Rowley btworld@sph.com.sg Tokyo JAPAN’S 82-year-old Emperor Akihito hinted strongly on Monday in a video speech broadcast by state broadcaster NHK that he is anxious to abdicate the so-called “Chrysanthemum Throne”, saying that his advanced age could render it difficult for him to
      PHOTO: BLOOMBERG  -  825 words
    • Article, Illustration
      Lock icon An islander’s vision
      634 8 / 9  -  Lui Hock Seng maybe a cleaner, but at age 79, he takes beautiful pictures A SINGAPOREAN VIEW By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore IT WAS in the late-1950s, before Singapore became independent. Those were also the days when the camera was not lightweight, when it was
      634 words
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    • Advertisement
      Lock icon Page 3 Advertisements Column 1
      437 3 CARING FOR SENIORS We have many schemes to support our seniors in their retirement. WHEN I NEED TO SEE THE DOCTOR Government Subsidies At all public hospitals, specialist outpatient clinics (SOC) and polyclinics WHEN I NEED HELP WITH LIVING EXPENSES Community Health Assist Scheme (CHAS) Subsidies for medical and dental
      437 words
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  • COMPANIES & MARKETS
    • Article
      Lock icon SMRT’s rail losses deepen for Q1
      673 10  -  Group looks to new rail financing framework and Temasek bid; net profit falls 22.9% By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore THE first quarterly results for SMRT Corporation painted a bleak picture for the transport operator’s rail business, as it appealed to shareholders to help
      673 words
    • Article
      Lock icon Eu Yan Sang offeror faces stumbling block in compulsory acquisition
      330 10  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore ALTHOUGH the public float in Eu Yan Sang International (EYSI) has fallen below the required 10 per cent for it to stay listed, the consortium making the bid to take the traditional Chinese medicine
      330 words
    • Article
      Lock icon ValueMax Group, Maxi-Cash report stronger bottom lines
      432 10  -  By Nisha Ramchandani, Chin Yong Chang nishar@sph.com.sg @Nisha_BT ycchin@sph.com.sg Singapore THE pawnbroking business appears to be holding strong in times of slow growth, going by the results of pawnshop chains, ValueMax Group and Maxi-Cash. ValueMax Group’s Q2 net profit for the three months
      432 words
    • Article, Illustration
      Lock icon Wall St high, DBS results help lift STI by 1.5%
      628 11  -  STOCKS R Sivanithy sivan@sph.com.sg @RSivanithyBT Senior Correspondent WALLStreet’sjump to a new all-time high on Friday and DBS’s better-than-expected second-quarter profit helped propel the Straits Times Index (STI) up 42.61 points or 1.5 per cent to 2,870.78 on Monday, albeit in
      628 words
    • Article
      Lock icon Sim Lian founder leads offer to take developer private
      294 11  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore A CONSORTIUM led by the founder of Sim Lian Group (SLG) is seeking to take the property developer private. In a release to the Singapore Exchange (SGX) on Monday night, Coronation 3G said it is
      294 words
    • Article
      Lock icon GAINERS
      73 11 BY CENTS CLOSE UP 52w high/low Jardine C&C 4310 140.0 3.4 4520/2636 DBXT MSKorea US$ 5787 128.0 1.7 5787/4478 Prudential USD 1810 53.9 2.3 2500/1680 DBXT MSTHAI US$ 2013 52.5 2.0 2013/1419 DBXT China50 US$ 2992 45.8 1.1 3383/2355 BY PERCENTAGE CLOSE UP 52w high/low Infinio 0.3 200.0 0.2
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    • Article
      Lock icon LOSERS
      72 11 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -397.4 -2.3 *****/***** Great Eastern 2126 -15.0 -0.7 2332/1870 DBXT S&PShort US$ 1945 -12.1 -0.5 2393/1945 Universal Res 20 -9.0 -31.0 68/7.5 Longcheer 101 -8.0 -7.3 116/50 BY PERCENTAGE CLOSE DOWN 52w high/low Vashion 0.3 -70.0 -0.7 10/0.2 Serrano 1.7
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    • Article
      Lock icon MOST ACTIVE
      32 11 VOLUME Noble 145,705,000 Ezra 50,346,700 HSI*****MBeCW*****9 47,863,500 Singtel 28,900,200 SingMedical 26,661,800 Market volume 1,249,488,000 VALUE Singtel 120,439,253 DBS Grp 105,004,547 UOB 81,473,468 OCBC Bank 50,763,079 ComfortDelGro 33,429,079 Market value 1,052,202,000
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    • Article
      Lock icon Junk bond dealmaking rebounds as Asian yields hit 3-year low
      426 11 IFR Hong Kong ASIA’S high-yield bond market jolted back to life last week after a rally in credit spreads triggered a flurry of new issues. Six Asian companies with subinvestment grade, or junk, credit ratings sold US dollar bonds in
      IFR  -  426 words
    • Article
      Lock icon STI STOCKS
      309 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 245 xd -2 248/245 257 209 6.3 6461.5 CapitaCom Trust 156 +3 156/153.5 158.5 122.5 5.5 4613.5 CapitaLand 324 +2 327/323 340 267 13 2.8 *****.6 CapitaMall Trust 220 +6 220/215 225
      309 words
    • Article
      Lock icon SGX ETFs Most Active
      108 12 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 290 +3 280 292/288 324/254 290/291 IS MS INDIA US$ US741 +13 227 741/732 772/575 738/741 92.6 DBXT MSINDO us$ US1501 +27 197 1534/1481 1534/911 1495/1501 Lyxor Taiwan US120.3 +2.2 80 120.5/120 120.5/90 -/-28.6
      108 words
    • Article
      Lock icon BT SHARE INFORMATION SERVICE
      774 12 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Aug 8 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) City Developments 03-Aug-16 Aberdeen Asset Mgmt *Buy 470 8.54 ***** 9.99 ***** 10.04 Eu Yan Sang 03-Aug-16
      774 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 12 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 1 4 1 0 0 9 1 4 Manufacturing 39 38 28 9 8 11 48 46 39 Commerce 26 16 10 1 3 5 27 19 15 Tpt/Stor/Comms 14 11 6
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      124 12 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 15,112 80 15,192 49,473 14 49,487 Manufacturing 98,416 24,037 122,453 89,020 524 89,544 Commerce 175,703 37,899 213,602 84,016 709 84,724 Tpt/Stor/Comms 133,132 2,203 135,335 215,247 219 215,466 Finance 31,803 52 31,855 252,762 6 252,768 Construction
      124 words
    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 12 Source for FTSE ST Indices: Interactive Data Aug 8 VALUE CLOSE BT OB/OS -450.00 +98.00 BT CADI -*****.00 +27.00 BT 10-day MA -*****.00 -45.00 FTSE ST Mid Cap 680.05 +0.13 FTSE ST Small Cap 382.26 +0.24 FTSE ST All Share 699.10 +8.20 FTSE ST China Top 157.05
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    • Article
      Lock icon UNUSUAL ACTIVITY
      82 12 VOL CLOSE($) CHANGE Metech Intl 2,626.1 0.003 +0.002 +200.00 Allied Tech 396.0 0.023 +0.007 +43.75 Serrano 215.2 0.017 -0.021 -55.26 Sinostar Pec 237.5 0.104 +0.014 +15.56 Mary Chia 10.0 0.072 +0.020 +38.46 Qian Hu 101.5 0.104 +0.013 +14.29 SingMedical 26,661.8 0.270 -0.025 -8.48 New Silkroutes 2,951.8 0.430 +0.040
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    • Article
      Lock icon COMMODITY FUTURES
      192 13 Aug-5 Price Net change change Last Trade Agricultural Aug-5 CBOT Soybeans (US cents/bu) 1003.75 13.25 1.34% 12/8/2016 CBOT Soybean Oil (US cents/lb) 30.52 -0.02 -0.07% 12/8/2016 CBOT Wheat (US cents/bu) 416.00 12.75 3.16% 14/09/2016 Aug-5 LIFFE Cocoa (£/tonne) 2420.00 16.00 0.67% 15/09/2016 LIFFE Coffee (US$/tonne) 1823.00 6.00 0.33%
      192 words
    • Article
      Lock icon PALM OIL
      57 13 Aug 8 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 16 2488.0 2505.0 2571.0 2488.0 86 2299 Sep 16 2443.0 2430.0 2469.0 2430.0 2214 ***** Oct 16 2423.0 2407.0 2448.0 2409.0 ***** ***** Nov 16 2405.0 2396.0
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    • Article
      Lock icon GOVERNMENT SECURITIES
      65 13 Aug 8 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0T 0.500 01-Apr-18 99.35 99.32 99.29 5-Year NX*****X 2.250 01-Jun-21 103.95 104.00 103.70 10-Year NX*****F 2.125 01-Jun-26 102.57 102.75 102.20 15-Year NZ*****F 2.875 01-Sep-30 109.13 20-Year NZ*****X 2.250 01-Aug-36 100.28 100.10 99.88
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 13 Aug 8 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0270 1.0282 0.7623 0.7630 Canadian dollar 1.0230 1.0238 0.7597 0.7594 Euro 1.4926 1.4935 1.1079 1.1083 NZ dollar 0.9592 0.9600 0.7120 0.7124 Sterling pound 1.7559 1.7571 1.3034 1.3039
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    • Article, Illustration
      Lock icon Straits Times Index
      3 13
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    • Article
      Lock icon BONDS, WARRANTS, PREFERENCE SHARES
      211 13 Most active Aug 8 Prem Expiry Last Vol Conv Exer Disc Gear- Mths Company Sale +or-('000) Ratio Price ing Left HSI ***** MB eCW*****9 9.5 1.9 ***** 0.0 1 HSI ***** MB ePW*****9 8.7 -2.5 ***** 0.0 1 DBS MB eCW*****1 3.7 0.3 6288 0.1 1620
      211 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INT’L INDICES
      377 13 In local curr In S$ In US$ dy yr dy yr dy yr Aug 5 Index Change Change Change Change Change Change World Preliminary 1303.1 0.7 2.0 0.9 -1.9 0.5 3.2 EAFE Preliminary 957.8 0.7 -5.5 0.5 -7.8 0.1 -3.0 Europe Preliminary 1381.6 1.0 -2.2
      377 words
    • Article, Illustration
      Lock icon STOCK MARKETS
      8 13 Source: Bloomberg Source: Bloomberg Source: Bloomberg
      Source: Bloomberg  -  8 words
    • Article, Illustration
      Lock icon Is there value in having so many indices to track residential market?
      952 14  - Is there value in having so many indices to track residential market HOCK LOCK SIEW By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Tracking property price movements is a major preoccupation for many when it comes to buying or selling a house, or just keeping tabs on the current value of their homes,
      Compiled by BT  -  952 words
    • Corporate digest
      • Article
        Lock icon Swiber Holdings
        261 14 EMBATTLED offshore services firm Swiber Holdings has received claims of around US$99 million in total as at Aug 4, it said in an update. The company is seeking legal advice with regard to the claims, it said in a filing to the Singapore Exchange on Monday night. Meanwhile,
        261 words
      • Article
        Lock icon International Healthway Corp
        142 14 IHC on Monday said its receivers have tried to remove Jong Hee Sen and Lim Beng Choo as directors of the troubled company’s affected subsidiaries, but these removals have been resisted. On Aug 5, 2016, the group received an Ex Parte Summon for Injunction application from the
        142 words
      • Article
        Lock icon Sembcorp Industries
        33 14 SEMBCORP Industries said its wholly owned subsidiary Sembcorp Utilities has invested an additional 750 million rupees (S$15 million) into Sembcorp Green Infra, raising its stake from 67.67 to 68.74 per cent.
        33 words
      • Article
        Lock icon Chip Eng Seng
        30 14 CHIP Eng Seng Corp’s net profit for the second quarter fell 33.3 per cent to S$ 14.27 million. Revenue rose 18.9 per cent year-on-year to S$234.3 million.
        30 words
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  • REAL ESTATE
    • Article
      Lock icon Anbang denies report it’s considering a bid for InterContinental
      202 15 Bloomberg Seattle ANBANG Insurance Group Co, which tried to buy a US hotel company in March, denied a report that it’s considering a bid for UK-based InterContinental Hotels Group Plc, owner of the Holiday Inn and Crowne Plaza brands. Anbang has
      Bloomberg  -  202 words
    • Article, Illustration
      Lock icon Oversupply beats Brexit as biggest London office risk: UBS
      520 15 Additional space to hit market in 2017 and 2018 a bigger threat to rents, values BLOOMBERG London THE wave of office buildings under construction in London is a bigger threat to rents and values than the risk of companies moving out
      BLOOMBERG; PHOTO: BLOOMBERG  -  520 words
    • Article
      Lock icon Glorious Property shares halted pending privatisation notice
      305 15 Founder Zhang is trying again to go private after failing to succeed in 2013 Bloomberg Hong Kong SHARES in Chinese property developer Glorious Property Holdings Ltd were suspended on Monday in Hong Kong pending an announcement about a privatisation bid by the company’s
      Bloomberg  -  305 words
    • Article
      Lock icon China Evergrande ups stake in Langfang
      103 15 Reuters Shanghai PROPERTY developer China Evergrande Group raised its stake in goods trading company Langfang Development Co Ltd to 15 per cent, the latest move in its equity purchase spree. Langfang shares in Shanghai jumped 10 per cent after the company announced that China’s
      Reuters  -  103 words
    • Article, Illustration
      Lock icon Vancouver tax set to scuttle over 400 deals: brokers
      788 16 Provincial govt’s move to cool hot housing market may also face legal challenges Bloomberg Toronto BRITISH Columbia’s decision to impose a 15 per cent tax on foreign buyers to cool Vancouver’s scorching housing market is poised to derail more than 400
      Bloomberg; PHOTO: BLOOMBERG  -  788 words
    • Article
      Lock icon Deutsche Asset Management buying Barcelona shopping mall
      163 16 Bloomberg Madrid DEUTSCHE Bank AG’s Spanish asset-management unit is buying a shopping mall in Barcelona for 493 million euros (S$736.6 million) from North wood Investors LLC. The Diagonal Mar mall has shops operated by companies including Primark Stores Ltd and Hennes Mauritz AB
      Bloomberg  -  163 words
  • Page 15 Advertisements
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      Lock icon Page 15 Advertisements Column 1
      78 15 AUSTRALIAN PROPERTY FINANCE Have you recently bought an Australian property and need a loan to complete the transaction? Already own and want to ensure you have the best loan? CONTACT SPECIALIST MORTGAGE HERE IN SINGAPORE FOR A FREE IMPARTIAL REVIEW OF ALL YOUR OPTIONS. <10 Jalan Besar,#17-01 Sim Lim Tower
      78 words
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  • Page 16 Advertisements
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      Lock icon Page 16 Advertisements Column 1
      28 16 Blow your own trumpet Buy new musical instruments or put up your old ones for sale in CLASS 72 To advertise, call the Print Classified Hotline: 1800-289 9988
      28 words
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  • BANKING & FINANCE
    • Article, Illustration
      Lock icon The bond sale that may solve a US$566b problem
      900 17 It’s the first to comply with new rules regarding commercial mortgage-backed securities Bloomberg New York AN upcoming bond sale could determine whether Wall Street banks stay in the US$566 billion business of packaging commercial mortgages into securities. The nearly US$871 million
      Bloomberg; PHOTO: REUTERS  -  900 words
    • Article
      Lock icon Short-seller Glaucus Research targeting new stocks in HK
      444 17 Bloomberg Hong Kong AFTER a quiet start to the year, short sellers may be gearing up for a busy few months in Hong Kong. Short-seller Glaucus Research Group is actively looking into the market and may publish another two reports this year,
      Bloomberg  -  444 words
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  • ENERGY & COMMODITIES
    • Article
      Lock icon ‘Inevitable cascade’ of O & G defaults seen
      723 18 ‘Inevitable cascade’ of O G defaults seen Oil-related firms face S$1.4b of S’pore dollar bonds maturing through 2018, with sustained weakness in crude raising risks Bloomberg Singapore SINGAPORE bondholders and lenders, already stung by Swiber Holdings Ltd’s woes, face mounting pain as a drop in oil leaves more companies in
      Bloomberg  -  723 words
    • Article, Illustration
      Lock icon Output at Norway oil firms exceeds forecasts despite price slump
      583 18 Bloomberg Oslo FOR Norway, the collapse in crude prices has a silver lining: output has exceeded expectations every month for the past two years. That’s likely to continue as oil companies boost efficiency and pump at full pace as revenue
      Bloomberg; PHOTO: REUTERS  -  583 words
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  • TECHNOLOGY
    • Article, Illustration
      Lock icon Firms are big customers for Apple’s iPads
      1074 19 Even IBM has developed business apps for Apple’s iOS that it has sold to companies NYT San Francisco IN the primordial days of computing, IBM machines were so common inside corporations that there was a running joke in the industry: Nobody ever got
      NYT; PHOTO: REUTERS  -  1,074 words
    • Article
      Lock icon Facebook denies reluctance in giving data to German investigators
      427 19 Reuters Berlin FACEBOOK rejected on Monday claims made by Germany’s state authorities that it was reluctant to co-operate with them on criminal investigations, saying many of the requests it received for user data were incorrectly formulated. Several regional interior ministers have
      Reuters  -  427 words
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  • CONSUMER
    • Article, Illustration
      Lock icon Jack Ma opening mobile wallet to China travellers in Europe
      723 20 Alipay is signing deals with retailers to bulk up its offering for Chinese tourists and expats Bloomberg Paris JACK Ma will set a bag aside for you at your favourite Paris store or hail you a ride in Rome just
      Bloomberg; PHOTO: AFP  -  723 words
    • Article, Illustration
      Lock icon Amazon plans big push for voice control service
      794 20 NYT Seattle AMAZON surprised a lot of people when its Echo, a US$180 smart speaker, became a hit, giving them a novel way to play music, switch on the lights in their homes and set thermostats with voice commands. Amazon, though, has
      NYT; PHOTO: AFP  -  794 words
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Elected Thai govt to take power earliest by end-2017: official
      753 21 Analysts say vote for military-backed constitution reflects desire for stability Reuters Bangkok A DEMOCRATICALLY elected government will take power in Thailand at the earliest by December 2017, a senior Thai official said on Monday, after the country endorsed a mili-tary-backed
      Reuters; PHOTO: AFP  -  753 words
    • Article
      Lock icon ‘Dozens of members’ in group behind rocket terror plot
      430 21 Group taking orders from Indonesian who has joined IS in Syria, say Indonesian police Reuters Jakarta INDONESIAN authorities said on Monday that several suspected Islamist radicals arrested last week on suspicion of plotting to attack Singapore were part of a group
      Reuters  -  430 words
    • Article
      Lock icon Emerging markets aren’t really in charge of their own rates anymore: study
      722 22 Domestic monetary policy has been rendered impotent thanks to financial globalisation Bloomberg London EMERGING market central banks are shackled to their US counterparts, with local long-term interest rates held hostage to the Federal Reserve and the monetary policies
      Bloomberg  -  722 words
    • Article, Illustration
      Lock icon Corporate Indonesia gears up for revival in consumer demand
      522 22 Reuters Jakarta INDONESIAN firms ranging from restaurant chains to snackmakers are stepping up investment and launching new products as improving economic conditions and easier access to credit drive a spurt in consumer demand in the country of250 million people. Consumption, which
      Reuters; PHOTO: AFP  -  522 words
    • Article, Illustration
      Lock icon China’s July trade performance disappoints
      717 23 Imports down 12.5 per cent, far larger than the expected 7.0 per cent fall AFP Beijing CHINA’S economy, the world’s second largest, struggled in July with a worse-than-expected trade performance as imports plunged 12.5 per cent year-on-year, according to Customs. Imports fell to US$132.4 billion,
      AFP; PHOTO: AFP  -  717 words
    • Article
      Lock icon Taiwan exports end 17-month losing streak with surprise growth
      299 23 AFP Taipei TAIWAN exports ended a 17-month losing streak boosted by demand for electronic parts as US tech giant Apple prepares to launch its new iPhone series, the government said on Monday. Exports last month grew 1.2 per cent from July
      AFP  -  299 words
    • Article
      Lock icon China-Japan tensions rise over disputed East China Sea isles
      702 24 Hundreds of Chinese fishing boats, 14 coastguard vessels spotted in the area Bloomberg Tokyo CHINA is stepping up pressure on Japan over disputed islands with hundreds of fishing boats and more than a dozen coastguard vessels spotted in the area, encroaching
      Bloomberg  -  702 words
    • Article, Illustration
      Lock icon Ex-Philippine leader to ‘rekindle ties with China’
      476 24 Reuters Manila FORMER Philippine president Fidel Ramos on Monday departed on a five-day trip to Hong Kong to meet “old friends” and rekindle ties with China soured by a maritime dispute in the South China Sea. In July, an arbitration court in The
      Reuters; PHOTO: REUTERS  -  476 words
    • Article, Illustration
      Lock icon Pyongyang Cafe: Kim Jong Un’s modest ally in Spain
      707 25 Founder Cao de Benos says it is the only such set-up in the West AFP Tarragona, Spain NORTH Korea may be isolated in the international community but it now has a modest ally on the Spanish coast the Pyongyang Cafe, a
      AFP; regime.PHOTO: AFP  -  707 words
    • Article
      Lock icon Japan military on alert to destroy any N Korea missile: report
      265 25 AFP Tokyo JAPAN’S newly appointed defence minister on Monday ordered the nation’s military to be ready to destroy any missile fired by North Korea that threaten the country, local media reported. Tomomi Inada issued the order, public broadcaster NHK
      AFP  -  265 words
    • Article, Illustration
      Lock icon Conflicts of interest appear at think-tanks
      1235 26 In chase for funds, they are pushing agendas important to corporate donors NYT Washington AS Lennar Corp, one of the nation’s largest homebuilders, pushed ahead with an US$8 billion plan to revitalise a barren swathe of San Francisco, it found a trusted voice to
      NYT; PHOTO: NYT  -  1,235 words
    • Article
      Lock icon Obama’s star-studded galas at White House a classified matter
      720 27 Names of invited kept secret; guests asked not to tweet pictures or spill any details NYT Washington THERE are plenty of perks to being president of the United States. One of them is glamorous birthday parties. Since taking office, President Barack
      NYT  -  720 words
    • Article, Illustration
      Lock icon Bank of France forecasts GDP to grow 0.3%
      268 27 Bloomberg Madrid THE French economy is set to return to growth this quarter, the nation’s central bank said, as President Francois Hollande aims to cement a turnaround ahead of next year’s general election. Gross domestic product will rise 0.3 per cent in
      Bloomberg; PHOTO: AFP  -  268 words
    • Article
      Lock icon Third Spanish election will produce another hung parliament: poll
      259 27 Reuters Madrid A THIRD election would do little to break Spain’s political stalemate, with the People’s Party (PP) of acting Prime Minister Mariano Rajoy seen winning the vote but coming far short of a parliamentary majority, an influential poll showed on
      Reuters  -  259 words
    • Article, Illustration
      Lock icon Trump to outline economic policy as he seeks to regain momentum
      748 28 Advisers say focus will be on trade, taxes and immigration Reuters New York REPUBLICAN presidential nominee Donald Trump on Monday will outline an economic plan that includes tax help for working families in a major speech in Detroit as
      Reuters; PHOTO: AFP  -  748 words
    • Article
      Lock icon Germany June factory output points to weak quarterly growth
      402 28 AFP Frankfurt GERMAN industrial production rebounded in June, official data showed on Monday, but analysts warned that the expansion won’t redeem a sluggish second quarter for Europe’s biggest economy. Industrial output posted growth of 0.8 per cent in June compared with
      AFP  -  402 words
    • Article, Illustration
      Lock icon After Brexit, Draghi faces oil hurdle on path to higher inflation
      691 29 Brent crude has fallen more than 13% since the June 23 referendum, casting shadow over expected rise in inflation Bloomberg Frankfurt WHENEVER Mario Draghi clears a hurdle on his path to higher inflation, a new one appears. Just as
      Bloomberg; PHOTO: REUTERS  -  691 words
    • Article
      Lock icon Denmark pursues EU concessions to escape bill for migrant worker welfare
      476 29 Bloomberg Kobenhavn THE concessions granted to the UK by the powers in Brussels ahead of its shocking vote to leave the European Union may now be moot, but they haven’t been forgotten in Denmark. Amid the chaos that the
      Bloomberg  -  476 words
    • Article
      Lock icon UK bosses win 10% pay rises as workers Face restraint: study
      194 29 AFP London BRITISH company bosses won pay hikes of 10 per cent last year, creating a growing wages gap as workers faced restraint, a study showed on Monday. The average pay package of a FTSE 100 chief executive rose
      AFP  -  194 words
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      Lock icon Page 25 Advertisements Column 1
      47 25 HOT PROPERTY KENSINGTON SQUARE SHOP supermkt. FH, Various choice units. Near MRT. Just TOP. KAP RETAIL SHOP FH. Top soon! 366 sf, Good frontage. King Albert Park MRT/ The Flow Shop. SHOP SPACES FOR SALE Check out these properties and more in The Straits Times Classified now!
      47 words
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  • TRANSPORT
    • Article
      Lock icon London rail workers begin 5-day strike, causing travel chaos
      391 30 Dispute centres on role of conductors, who are responsible for opening and closing train doors Reuters London HUNDREDS of thousands of train commuters in London and southern England were facing misery on Monday as rail staff began a five-day strike in
      Reuters  -  391 words
    • Article, Illustration
      Lock icon Makers of superbikes woo Chinese women
      598 30 Bloomberg Beijing THERE are few things Laura Wu likes more than to take her Ducati 899 Panigale for a spin on the country roads outside Beijing. With five other high-perform-ance motorcycles in her garage, the 35-year-old represents today’s Chinese biker whom manufacturers are clambering
      Bloomberg; PHOTO: BLOOMBERG  -  598 words
    • Article
      Lock icon UK fraud office starts Airbus criminal bribery probe
      343 30 Bloomberg Chicago AIRBUS Group SE said the UK Serious Fraud Office has opened a criminal investigation into allegations of fraud, bribery and corruption relating to some of its thirdparty consultants. The Toulouse, France-based planemaker said in a statement on Sunday that it’s
      Bloomberg  -  343 words
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      Lock icon Page 31 Advertisements Column 1
      260 31 Open yard storage of 16,000sqm Unstuffing/Stuffing Inland Transportation Solutions Painting Engineering Works Providing a one-stop solution for all your logistics needs Call 8121 0966 or email 2WASSINEPCOperation@2wglobal.com for more details Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby
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      486 31 FOONG SUN SHIPPING (PTE) LTD INDONESIA SUMATRA PORTS VESSEL VOY ETA ETD DESTINATION BERJAYA I 12/16 11/08 13/08 BELITUNG/PKL BALAM SRIJAYA 8 21/16 12/08 14/08 JAMBI/PEKAN BARU FLORA 8 12/16 15/08 17/08 PALEMBANG/PANJANG PULAU WEH 07/16 11/08 13/08 BELAWAN/MALAHAYATI INDONESIA JAVA SULAWESI PORTS VESSEL VOY ETA ETD DESTINATION FAJAR MAS
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      21 31 maintenance services wanted Can they find your services here in the Shipping Times? TO ADVERTISE, CALL JOE WONG AT *****327. INGHMES
      21 words
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  • OPINION
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      Lock icon The way to another country’s heart...
      1150 32 / 33  -  Culinary diplomacy has shown that it can create pathways to resolving conflicts, at times more effectively than traditional diplomacy. By Harish Mehta By Harish Mehta THE United States is conducting culinary diplomacy, winning friends abroad, bringing warring people together, and boosting tourism and trade.
      PHOTO: NYT  -  1,150 words
    • Article
      Lock icon Staying astute and agile key to sustaining Singapore’s economy
      997 32 / 33  -  By Guy Harvey-Samuel ~The writer is chief executive officer of HSBC Singapore IT’S like having a birthday and no one brings a present! Singapore’s 51st National Day arrives amid sustained falls in global trade, investment and commodity prices, economic slowdown in
      997 words
  • Page 32 / 33 Miscellaneous
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      Lock icon Page 32 / 33 Miscellaneous Column 1
      138 32 / 33 weekend the business times Singapore Press Holdings News Centre, 1000 Toa Payoh North, Podium Level 3, Singapore *****4 SPH 6319-6319 BT 6319-5360 FAX: 6319-8278 CUSTOMER SERVICE: 6388-3838 www.businesstimes.com.sg PRESS RELEASES: btnews@sph.com.sg LETTERS: btletter@sph.com.sg Editor ALVIN TAY Associate Editor VIKRAM KHANNA Executive Editor WONG WEI KONG Chief Executive Officer, Singapore Press
      138 words
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  • LIFE & CULTURE
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      Lock icon Phelps gets 19th gold with 4x100m relay win
      502 34 Most decorated Olympian of all time helps Team USA to 1st win in event since Beijing AFP Rio de Janeiro AT his fifth, and supposedly last Olympics, Michael Phelps finally let his guard down, sobbing along with his team mates after collecting
      AFP; PHOTO: AFP  -  502 words
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      Lock icon US swimmer shatters world record at Olympics
      433 34 AFP Rio de Janeiro “PURE happiness” radiated from Katie Ledecky as the 19-year-old US freestyle phenom gazed at the scoreboard and contemplated her latest feat: 400m free Olympic gold in world record time. Ledecky, targeting a rare 200m, 400m and 800m Olympic freestyle
      AFP; PHOTO: REUTERS  -  433 words
  • Page 34 Miscellaneous
    • Miscellaneous
      Lock icon Page 34 Miscellaneous Column 1
      328 34 CRYPTIC CROSSWORD Across 1 Hector, perhaps, and mount threat to computer (6,5) 10 Digs rough land over with spades (5) 11 Gardener confused about one military man (9) 12 Adjective maybe for one who’s come up the hard way (9) 13 Rewrite thesis initially unconvincing (5) 14 English racing venue
      328 words
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  • SME
    • Article, Illustration
      Lock icon Conflict pushed him to Singapore
      783 35  -  United Global CEO Jacky Tan then counts on hard work to build up the company. By Renald Yeo yrenald@sph.com.sg IT was conflict, not opportunity, that brought Malaysian businessman Jacky Tan to Singapore in 1998. Concerned about the outbreak of violence from the May 1998 racial
      PHOTO: YEN MENG JIIN  -  783 words
    • Article
      Lock icon Grants by Spring & SGX lead to IPO listings
      268 36  - Grants by Spring SGX lead to IPO listings Joint initiative addresses financial management capability gaps, to give SMEs easier access to capital markets By Renald Yeo yrenald@sph.com.sg Singapore AN initiative by Spring Singapore and the local bourse operator Singapore Exchange (SGX) to position small and medium-sized enterprises (SMEs) here for
      268 words
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      Lock icon Tapping grants to improve capabilities
      958 36  -  Apart from financial support, Spring Singapore also provided the catalyst for Wong Fong’s R D efforts. By Renald Yeo By Renald Yeo yrenald@sph.com.sg AGUNG-HOatti-tude, a desire to take on the world and the lofty ideal to make engineering a discipline that has taken a back
      958 words
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