The Business Times, 19 August 2016

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Total Pages: 28
1 28 The Business Times
  • 22 1 THE BUSINESS TIMES A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BusinessTimes MCI (P) 052/08/2016 S$1.20 CO REGN NO *****2868E Friday, August 19, 2016
    22 words
  • Article, Illustration
    231 1 Nanshan Group is believed to be the one that triggered the recent release of the white site at Central Boulevard on the government reserve list. TOP STORIES 2 Japan shows signs of growing alarm as the yen rises briefly to near 99 to the dollar amid market fears
    231 words
  • 27 1 Thursday Change STI 2,836.98 -6.37 KL COMP 1,694.87 +0.55 NIKKEI 225 16,486.01 -259.63 HANG SENG 23,023.16 +223.38 SHENZHEN B 1,171.25 -1.84 DOW (11.45AM EDT) 18,581.37 +7.43
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  • 1108 1  -  Cash deal to be funded by internal cash, short-term debt and S$1.61 billion share placement to Temasek By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore CONFIRMING media reports, Singapore Telecommunications (Singtel) said on Thursday that it has entered into a
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  • 705 1  -  By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore COMPANIES in Singapore’s finan-cial-services sector have been challenged to think beyond individual gains and to shoot for industry-wide dividends. This, said Minister for Trade and Industry (Industry) S Iswaran on Thursday, will be key to
    705 words
  • Page 1 Advertisements
    • 44 1 VICTORY PARADE BUS School? No thanks, I’d rather see Schooling! TOP STORIES 4 THE BUSINESS TIMES RECORDING OLYMPIC DREAMS SINCE 1932 o OMEGA OFFICIAL TIMEKEEPER Q$P AVAILABLE AT: Ion Orchard 6509 9712 Marina Bay Sands 6225 2393 Raffles City 6338 3676 Resorts World Sentosa
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    • 38 1 HOCK LOCK SIEW Catalist IPOs: minimum public tranche needed COMPANIES MARKETS 6 FINANCIALS Transparency hallmark of top annual reports opinion 20 SPOILT FOR CHOICE Wide selection of content streaming services to choose from these days BT LIFESTYLE 28
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  • TOP STORIES
    • Article, Illustration
      35 2 IN the advertisement “The largest collection of horology movements at ION Orchard” (BT, Aug 18), the caption for the watch above should have been CARTIER, not OFFICINE PANERAI. We are sorry for the error.
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    • 836 2  -  China-based group believed to be scouting for partners to jointly bid for white site By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore MARKET talk has it that it is Nanshan Group that has triggered the recent release of the Central
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    • 659 2  -  Latest charges could turn spotlight on Hong Kong-based financial services provider Amicorp By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore SINGAPORE prosecutors have slapped another two charges in addition to nine others filed earlier on former BSI banker Yeo Jiawei in
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    • 797 2  -  Real Capital Analytics says London’s share slipping and Asia investors are now showing more interest in US cities By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THERE was net capital outflows of about US$17 billion from Asia into global real estate markets
      Source: Real Capital Analytics  -  797 words
    • 254 2 BLOOMBERG Singapore HANSPETER Brunner, BSI SA’s former Asia chief who was referred to Swiss and Singapore regulators over the bank’s ties with a Malaysian state firm, has settled a lawsuit seeking deferred payments, according to the bank’s lawyer. Mr Brunner’s lawsuit
      BLOOMBERG; PHOTO: BLOOMBERG  -  254 words
    • 354 4  -  By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore SCHOOL and work took a back seat for a few hours on Thursday as thousands of people lined the streets from Marine Parade to Bras Basah Road for a chance to catch national swimmer Joseph Schooling in
      PHOTOS: KUA CHEE SIONG/THE STRAITS TIMES  -  354 words
    • 902 4  -  Japanese currency nears 99 to the dollar on diminishing prospects of US interest rate hike By Anthony Rowley btworld@sph.com.sg Tokyo JAPANESE authorities showed signs of growing alarm on Thursday as the yen rose briefly to near 99 to the dollar amid
      PHOTO: REUTERS  -  902 words
    • 560 4 BLOOMBERG Tokyo JAPAN’S biggest banks are running out of room to sell their government bond holdings, pushing the central bank closer to the limits of its record monetary easing. Japan Post Bank Co and the nation’s three so-called
      BLOOMBERG  -  560 words
    • 749 5 Some prefer to wait as inflation is benign, others want a raise as soon as labour market nears full employment BLOOMBERG New York FEDERAL Reserve officials were divided in July over the urgency to raise interest rates again, with some preferring
      BLOOMBERG  -  749 words
    • 587 5 BLOOMBERG San Francisco CISCO Systems Inc, the biggest maker of equipment that runs the Internet, plans to cut about 7 per cent of its workforce, trying to recast itself as a provider of software-based systems and services. The company
      BLOOMBERG; AFP FILE PHOTO  -  587 words
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  • Page 3 Advertisements
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    • 138 4 n -c t* r Chinese Classical Modern Fan Painting and Calligraphy Exhibition *<!!*-•»** *4 r ft YA h //> 8? Sn "C jU This exhibition will showcase a rare private collection of Chinese classical and modern fan painting and calligraphy works. An expert in Chinese classical and modern paintings will
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    • 12 5 As technology shifts, more layoffs loom at US tech companies, Page 15
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  • COMPANIES & MARKETS
    • 873 6  -  HOCK LOCK SIEW BY R SIVANITHY MOST of the initial public offerings (IPOs) this year have been on Catalist and many, if not all, have involved 100 per cent placement shares. Quite understandably this has upset many market watchers who have once again raised
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    • 485 6  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore THE board of Indiabulls Properties Investment Trust (IPIT) completely ignored questions about its most recent annual report that were sent to it by the Securities Investors’ Association (Singapore) earlier this year, the association said on Thursday. The
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    • 350 6 Singapore OFFSHORE marine group Otto Marine Limited and industrial equipment supplier Hoe Leong Corporation are embroiled in a public spat about a US$920,000 payment. Otto Marine said on Thursday evening that it has applied for a wind-ing-up of Hoe Leong, also listed on the
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    • 413 7  -  By Choo Yun Ting yuntingc@sph.com.sg Singapore AGV Group, a homegrown provider of hot dip galvanising services, has launched its initial public offering for a Catalist listing. “Hot dip galvanising, which the Building and Construction Authority has identified as one of the most common
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    • CORPORATE DIGEST
      • 60 7 STARHUB has brought back the 12GB mobile data bundles. The telco said SurfHub will offer customers a bundle of two StarHub services 4G mobile postpaid line with at least 12GB of data and 1Gbps fibre home broadband subscription from S$96.56 monthly over 24 months. It said this is about
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      • 44 7 NORWEGIAN shipbuilder Vard Holdings has won a US$70 million contract for the design and construction of three module carrier vessels for Kazakhstan shipping firm Kazmortransflot. The vessels will be built in Romania. Delivery is set for between Q3 2017 and Q1 2018.
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      • 54 7 PROPERTY developer OUE is acquiring two land parcels in Singapore’s most exclusive Good Class Bungalow enclave for S$56.6 million. The two parcels totalling 3,100 square metres at 28 Nassim Road are adjacent to Eden Hall, the residence of the British High Commissioner. The acquisition will be funded out
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    • 508 7  -  Earnings hit A$40.9m as revenue goes up by almost one-third to A$421.9m By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore A SURGE in revenue pushed Australian residential property developer AVJennings’ net profit 19 per cent up to A$40.9 million (S$42 million) for the
      508 words
    • Article, Illustration
      63 8 STI Catalist Straits Times Index Aug 18,2016 2,836.98 -6.37 (-0.22%) Current streak 6 days Day high 2,849.54 Day low 2,830.10 52-week high 3,083.07 (Oct 26, 2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist index Aug 18,2016 437.00 -0.81 (-0.19%) Current streak 2 days Day high 440.49 Day low
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    • 607 8  -  Market weighed down by Singapore growth concerns even as US Fed minutes signal no urgency to hike rates STOCKS By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT INFERENCES that the US Federal Reserve was in no hurry to raise rates, based on the Fed’s meeting minutes
      Source: Bloomberg  -  607 words
    • 310 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 246 unch 247/242 257 209 6.2 6836.9 CapitaCom Trust 156 +0.5 157/154.5 159 122.5 5.5 4613.5 CapitaLand 309 -4 312/308 340 267 12.4 2.9 *****.4 CapitaMall Trust 213 -3 217/212 225 184.5
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    • 35 8 STI FTSE ST All-Share FTSE ST All-Share index Aug 18,2016 695.54 -1.64 (-0.24%) Current streak 3 days Day high 698.07 Day low 694.59 52-week high 743.17 (Oct 26, 2015) 52-week low 625.37 (Jan 21, 2016)
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    • 34 8 STI MSCI EAFE MSCI EAFE Index Aug 17, 2016 1,701.33 -2.88 (-0.17%) Current streak 2 days Day high 1,711.89 Day low 1,696.69 52-week high 1,835.21 (Aug 18, 2015) 52-week low 1,492.43 (Feb 12, 2016)
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    • 186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 5 4 0 1 0 6 6 4 Manufacturing 26 44 28 11 9 9 37 53 37 Commerce 17 23 13 5 1 3 22 24 16 Tpt/Stor/Comms 7 17 7
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    • 74 8 BY CENTS CLOSE UP 52w high/low DBXT MSUSA US$ 5660 109.9 1.5 5660/4705 Jardine C&C 4490 90.0 2.0 4520/2636 DBXT MSJAP US$ 5021 59.0 0.9 5042/4031 GLD US$ ***** 57.6 0.3 *****/***** DBXT S&P500 US$ 3790 33.5 0.7 3790/3126 BY PERCENTAGE CLOSE UP 52w high/low Advanced Systems 0.2 100.0
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    • 77 8 BY CENTS CLOSE DOWN 52w high/low Hyflux 6% CPS 9800 -142.0 -1.4 *****/9800 DBXT E50 US$ 4519 -41.6 -0.7 5000/3918 DBXT MSAsExJp US$ 3511 -34.9 -0.7 3537/2772 IS Asia BND US$ 1107 -25.5 -1.7 1126/1010 S i2i 140 -24.0 -14.6 214/30 BY PERCENTAGE CLOSE DOWN 52w high/low Metal Comp
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    • 82 8 VOL CLOSE($) CHANGE CPH 1,587.3 0.004 -0.005 -55.56 SingMyanmar 80.0 0.390 +0.040 +11.43 Mary Chia 20.0 0.062 -0.010 -13.89 TMC Education 30.0 0.041 -0.011 -21.15 JB Foods 572.5 0.285 +0.025 +9.62 United Food 137.1 0.050 -0.005 -9.09 Sinostar Pec 70.0 0.080 -0.020 -20.00 Plato Capital 64.3 0.111 +0.010
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    • BROKERS’ TAKE
      • 148 8 Singapore banks Negative Maybank Kim Eng, Aug 18 While O&G is not the only sector to face further asset quality deterioration, in the face of sluggish economic growth, it is arguably the biggest pressure point among the various sectors’ loan exposure at this moment. We examine the impact on Singapore
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      • 195 8 OCBC Investment Research, Aug 18 With just a few months left to the year, 2016 has been an eventful one across the land transport sector: 1) new regulations for private hire car service industry were introduced in April 2016 to safeguard safety of commuters, 2) on
        195 words
      • 163 8  -  Compiled by Andrea Soh Aug 18 close: S$0.74 RHB Securities, Aug 18 Viva Industrial Trust (Viva) is a business park-focused S-Reit with a 100 per cent Singapore-based portfolio. Since its listing, it has grown steadily through acquisitions/AEIs and currently has eight properties with an asset
        163 words
    • 33 8 VOLUME Noble 91,597,100 Golden Agri-Res 36,828,800 HSI*****MBeCW*****9 35,637,500 KLW Hldgs 33,134,100 Ezion 26,441,700 Market volume 1,023,730,000 VALUE Singtel 67,332,839 DBS Grp 44,586,021 CapitaLand 43,942,144 ComfortDelGro 41,773,231 UOB 30,206,379 Market value 762,180,000
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    • 110 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 289 600 290/288 314/254 288/289 IS MS INDIA US$ US730 +1 186 736/730 772/575 730/735 91.3 DBXT MSCHINA US$ US1328 +9 63 1332/1305 1357/995 1322/1327 ABF SG Bond ETF 118.2 -0.1 46 118.3/118.2 119.9/112
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    • 77 8 Aug 18 VALUE CLOSE BT OB/OS -46.00 -37.00 BT CADI -*****.00 -59.00 BT 10-day MA -*****.00 -4.00 FTSE ST Mid Cap 683.47 -1.69 FTSE ST Small Cap 382.89 -0.93 FTSE ST All Share 695.54 -1.64 FTSE ST China Top 156.55 -0.93 FTSE ST China 187.03 -1.29 FTSE
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    • 123 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 9,888 19 9,907 31,044 3 31,047 Manufacturing 67,044 68,143 135,187 74,244 1,783 76,027 Commerce 118,184 12,419 130,603 76,071 123 76,194 Tpt/Stor/Comms 87,138 375 87,513 165,223 38 165,261 Finance 15,314 6 15,320 107,401 1 107,402 Construction
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    • 392 9 CURRENCIES REUTERS London THE greenback fell to a seven-week low against a basket of major currencies on Thursday, after minutes from the Federal Reserve’s July meeting showed a bias among policymakers against raising interest rates soon. The minutes, released
      REUTERS  -  392 words
    • FOREX RATES
      • Article, Illustration
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      • 471 9 Aug 18 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.986 5.103 0.680 5.968 51.397 100.951 0.770 8.524 3.073 1.058 80.621 35.579 1.032 10.221 0.738 24.188 26.630 0.589 0.770 Canada 1.014 5.175
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      • 155 9 Aug 18 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0316 1.0323 0.7696 0.7697 Canadian dollar 1.0462 1.0471 0.7807 0.7805 Euro 1.5170 1.5181 1.1317 1.1319 NZ dollar 0.9753 0.9764 0.7276 0.7280 Sterling pound 1.7503 1.7520 1.3057 1.3063
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      • 22 9 Aug 18 S$ Bid Offer 1-month 1.3403 1.3412 2-months 1.3403 1.3412 3-months 1.3403 1.3413 6-months 1.3405 1.3416 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • 390 9 Aug 18 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Aug16 9880.00 9990.00 9807.50 9820.00 *****3 *****4 Sep16 9892.50 *****.50 9817.50 9832.50 ***** ***** NIKKEI 225 INDEX FUTURES Sep16 *****.00 *****.00 *****.00 *****.00 ***** *****6 Dec16 *****.00 *****.00 *****.00 *****.00 1288 6832 MSCI TAIWAN
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      • 212 9 Most active Aug 18 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left HSI ***** MB eCW*****9 12.5 2.3 ***** 0.0 1 HSI ***** MB ePW*****9 4.3 -1.4 ***** 0.0 1 Ntegrator Intl Ltd W*****3 0.3 unch 5481 1 1
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      • 377 9 In local curr In S$ In US$ dy yr dy yr dy yr Aug 17 Index Change Change Change Change Change Change World Preliminary 1303.2 -0.4 2.0 -0.1 -1.7 -0.3 3.7 EAFE Preliminary 967.2 -0.3 -4.6 0.1 -6.1 -0.2 -0.9 Europe Preliminary 1387.2 -0.9 -1.8
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    • BANK RATES
      • 154 9 Aug 18 $S Offer Bid 0vernight 0.05 0.00 1-month 0.625 0.375 2-months 0.8125 0.6875 3-months 0.875 0.75 Overnight mode: 0.18 US$ Offer Bid 7 days 0.55 0.45 1 month 0.60 0.50 2 months 0.80 0.60 3 months 0.90 0.70 6 months 1.25 1.05 9 months 1.45 1.25 12
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      • 65 9 Aug 18 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0T 0.500 01-Apr-18 99.43 5-Year NX*****X 2.250 01-Jun-21 104.46 104.55 104.42 10-Year NX*****F 2.125 01-Jun-26 103.54 103.66 103.50 15-Year NZ*****F 2.875 01-Sep-30 110.64 110.75 110.53 20-Year NZ*****X 2.250 01-Aug-36 102.62 102.90 102.45
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    • AGRI METALS ENERGY
      • 250 9 Aug-17 Price Net change change Last Trade Agricultural Aug-17 CBOT Soybeans (US cents/bu) 1030.50 11.00 1.08% 14/09/2016 CBOT Soybean Oil (US cents/lb) 34.01 0.63 1.89% 14/09/2016 CBOT Wheat (US cents/bu) 426.00 2.50 0.59% 14/09/2016 Aug-17 LIFFE Cocoa (£/tonne) 2500.00 15.00 0.60% 15/09/2016 LIFFE Coffee (US$/tonne) 1753.00 -22.00 -1.24%
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    • 537 11  -  Revenue 10.9% higher and sharp 70.4% fall in “other expenses” By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore PARKSON Retail Asia Limited has posted a net loss of S$ 11.98 million for the fourth quarter ended June 30, a sharp improvement from the S$ 59.77 million
      PHOTO: PARKSON RETAIL ASIA  -  537 words
    • 440 11  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore DIVERSIFICATION into sectors outside of energy and mining is beginning to bear fruit for heavy engineering services firm Civmec, though a weaker Australian dollar and the lack of a one-off tax gain recorded for the previous year
      440 words
    • 1743 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Company Last Sale Vol ('000) High Day 149 127 AIMSAMP Cap Reit 142.5 -1 167 144 142.5 0.9 8 908.1 Div 156.4 101 ARA Asset Mgmt 137 -0.5 264 138
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    • 277 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Last vol Day Div GrYld 0.6 0.1 t Advanced Systems 0.2 +0.1 21 0.2 0.1 5.3 44.5 29.5 t Advancer Global 37.5cd +0.5 4429 38.5 37 14.9 64.9 High LOW Company
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    • 127 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale 889 700 CIMBASEAN40 US$ US889 +4 3 889 889 139.4 3211 2355 DBXT China50 US$ US3148 -7 17 3151 3105 8.7 385 190 DBXT MSBrazil US$ US384 +4
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    • 463 7 AccountStaff A Stone Forest Company RECRUITMENT Globally Connected Services Specialists in Finance Accounting Executive Placements Contract Outsourcing Employment Pass Services RSM www.AccountStaff.com.sg lnfo(a)AccountStaff.com.sg T +65 6594 7946 CARING FOR SENIORS We have many schemes to support our seniors in their retirement. WHEN I NEED TO SEE THE DOCTOR Government Subsidies
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  • Page 10 Advertisements
    • 2676 10 NOTICES T O L L F R E E 1 8 0 0 -2 8 9 8 8 2 2 I E m a i l n o t i c e s s p h c o m s g I w w w s p h c l
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    • 556 10 CHANGJIANG FERTILIZER HOLDINGS LIMITED Company Registration No. *****3878D (Incorporated in the Republic of Singapore LOST SHARE CERTIFICATE Notice is hereby given that the following share certificates have been reported lost, destroyed or mislaid:Name Certificate No. No. of Shares China Hui Xin Investment Management Ltd *****4 16,666,666 Notice is also hereby
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    • 533 10 IN THE MATTER OF THE COMPANIES ACT (CAP.50) AND IN THE MATTER OF KAIXIN INDUSTRIAL PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) (CO. REG. NO. *****1397W) NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the Company held at 16 Collyer Quay, Income at Raffles, #34-02, Singapore *****8 on the 15th
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    • 1089 10 IN THE MATTER OF THE COMPANIES ACT (CAP.50) AND IN THE MATTER OF AVIC INTERNATIONAL SHIP DEVELOPMENT PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) (CO. REG. NO. *****2657H) NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the Company held at 16 Collyer Quay, Income at Raffles, #34-02, Singapore *****8 on
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  • Page 11 Advertisements
    • 310 11 GD@PASIRPANJANG For Lease Only Brand New Just T.O.P 8 Storey High Tech building For light industrial offices 100H Pasir Panjang Road Singapore *****4 Modern corporate facade with stylish interior Sky terrace High ceilings (5m 6m) Ample basement carpark 24hrs access and security Walking distance from Pasir Panjang Labrador Park MRT
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  • Page 12 Advertisements
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  • BANKING & FINANCE
    • 960 13 Fed’s requirement that the lender retain more capital makes it harder to hit the earnings-to-capital ratio target REUTERS New York EARLIER this year, an analyst asked Citigroup Inc chief executive Michael Corbat what he would do if activist investors
      REUTERS; SPH FILE PHOTO  -  960 words
    • 382 13 BLOOMBERG Singapore ALLIANZ SE, Europe’s biggest insurer, and France’s AXA SA were among first-round bidders for the rights to distribute general insurance products through Standard Chartered Plc outlets in Asia, according to people with knowledge of the matter. A unit
      BLOOMBERG  -  382 words
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    • 186 13 Esplanade Presents Classics "THIS IS AN ARTIST WE NEED TO HEAR MORE OF." The New York Times on David Fray DRESDEN PHILHARMONIC (Germany) CONDUCTED BY MICHAEL SANDERLING SOLOIST: DAVID FRAY, piano The Dresden Philharmonic, joined by multi-award-winning French pianist David Fray, makes its Singapore debut at the Esplanade Concert Hall.
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  • ENERGY & COMMODITIES
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  • TECHNOLOGY
    • 1112 15 US law protecting website operators from liability for content posted by others said to be applied too broadly REUTERS San Francisco WHEN San Francisco passed an ordinance this year imposing fines on home rental companies for listings by hosts not registered with
      REUTERS; PHOTO: AFP  -  1,112 words
    • 535 15 REUTERS New York CISCO Systems Inc’s announcement on Wednesday that it plans to lay off 5,500 employees is unlikely to be the last round of Silicon Valley pink slips as hardware companies struggle to keep up with rapid technology shifts,
      REUTERS  -  535 words
  • Page 15 Advertisements
    • 28 15 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
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    • 919 15 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices UCO BANK A GOVERNMENT OF INDIA UNDERTAKING HEAD OFFICE: 10 B.T.M Sarani Kolkata *****1 AUDITED ACCOUNTS AS AT 31 MARCH 2016 BALANCE SHEET AS ON 31 MARCH, 2016 (000’S OMITTED) As on 31.3.2016 As on 31.3.2015 CAPITAL AND LIABILITIES Capital 1075
      919 words
    • 1298 15 Interest Received 0.03 Borrowings Nil Shri Arun Kaul 01.04.2015 to Remuneration, 15.00 CMD 31.08.2015 perquisites Incentive Deposits 88.99 Investments in UCO Shares Nil Interest Received 2.06 Borrowings Nil Shri Charan Singh 01.04.2015 to Remuneration, ED 31.03.2016 perquisites Incentive 17.37 Deposits 10.70 Investments in UCO Shares Nil Interest Received 0.25 Borrowings
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  • REAL ESTATE
    • 373 16  -  Aim of project by DP Architects is to make waiting fun By Tan Effie taneffie@sph.com.sg Singapore A NEW concept bus stop designed to “make waiting fun” has arrived in Singapore. Named Project Bus Stop, the concept was conceived by a group of
      PHOTO: URA  -  373 words
    • 452 16 BLOOMBERG Oslo NORWAY’S US$890 billion sovereign wealth fund, the world’s biggest, took the step of independently cutting the value of its massive UK real estate portfolio by 5 per cent after Britain voted to leave the European Union. “It’s
      BLOOMBERG  -  452 words
    • 566 16 BLOOMBERG London CHINESE policymakers have resorted to traditional levers to juice the economy this year: investment, public sector spending and monetary expansion. Housing construction, real estate and public services helped to keep headline year-on-year growth on an even keel at 6.7 per cent
      BLOOMBERG  -  566 words
    • 570 17 They are now popular in the US among young indebted buyers BLOOMBERG Boston WHILE competing developers focus on pricier single-family homes, Jim Clarke is building townhouses for cash-strapped millennials. And the units are going fast. Almost a third of Robertson Brothers Homes’
      BLOOMBERG  -  570 words
    • 1068 17 NYT New York AFTER two years of being homeless, napping in stores open all night and more recently staying in a convent in Harlem, Margot Miller found out in March that her luck was about to change: She
      NYT  -  1,068 words
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    • 245 16 TIME FOR A SPECIAL INDULGENCE ION Orchard Level 4 ION Art Thursday, 25 August 2016 7.30pm 9.30pm Registration starts at 7.00pm Only $58 nett per person All payments by VISA or MasterCard credit cards only and are strictly non-refundable. Register by 21 August, midnight at pbp.sph.com.sg/btluxeion *Pre-order your entrée from
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    • 196 16 Hosted by: Know Your Consumer: The Changing Face of Asian Beauty Across Asia, cross-cultural differences in the way beauty is conceived is evolving, busting conventions and spawning new trends. By 2019, the Asian beauty and personal care market will be worth a staggering USD 170 billion over a third of
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  • Page 17 Advertisements
    • 477 17 D10 HOUSE FOR SALE NASSIM Nassim vicinity Prime Good Class Bungalow (GCB). ***** sqft Majestically renovated. 5 rooms. Inground pool. Big entertainment area. Please call Julian 9100 0098 D15 HOUSE FOR SALE BROADRICK ROAD Bungalow. Freehold Land 11,470sf. Functional Squarish layout. Wide frontage.Ample parking. Djoni 8198 9989 D10 APARTMENT FOR
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  • GOVERNMENT & ECONOMY
    • 697 18 But officials say they need to reiterate their “capacity and readiness to act” if necessary BLOOMBERG Frankfurt EUROPEAN Central Bank (ECB) officials “widely” agreed that their immediate reaction to the outcome of the UK’s referendum shouldn’t fuel excessive speculation about more stimulus.
      BLOOMBERG  -  697 words
    • 244 18 REUTERS New York STRONG recent US jobs growth and a long-awaited return of middle-wage employment are two positive signs for the US labour market, an influential Federal Reserve policymaker said on Thursday, reinforcing his positive message on the broader economy. New York Fed
      REUTERS  -  244 words
    • 493 18 REUTERS Tokyo JAPAN’S exports tumbled in July at the fastest pace since the global financial crisis with a resurgent yen adding to the challenge of weak external markets leaving the economy and the government more reliant on shaky domestic demand
      REUTERS; PHOTO: AFP  -  493 words
    • 464 18  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur DANI Abdul Daim, the son of Malaysia’s former finance minister Daim Zainuddin, has resigned as executive director of Reliance Pacific Bhd after he was made a bankrupt in Singapore last week. The travel and
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    • 240 18 REUTERS Kuala Lumpur MALAYSIA will take legal action against individuals named in civil lawsuits filed by US prosecutors last month if there is proof that they defrauded a Malaysian state-owned fund, a government minister said on Thursday. More than
      REUTERS  -  240 words
  • Page 18 Advertisements
    • 344 18 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF FORTRESS INVESTMENT GROUP (SINGAPORE) PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) (Co. Reg. No: *****3562C) At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 1345 Avenue of the Americas New York, NY
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    • 38 18 SERIAL ENTREPRENEUR TO SOCIAL IMPACT INVESTOR Gurgaon’s Prabhat Agarwal gives up corporate life to improve lives of others Drumbeats from Kerala in Singapore with CC help GET YOUR COPY TODAY TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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    • 46 18 We arrived at the new decade, and in the mad rush to embrace it, something was left behind: the mirror.” Former Female magazine editor James Siow on today’s dressing among Singaporeans Reflect on Singapore’s fashion future and past Now on sale at leading bookstores and www.stpressbooks.com.sg
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  • TRANSPORT
    • 900 19 The carriers need to hire more aviators to meet skyrocketing travel demand BLOOMBERG Sydney CHINESE airlines need to hire almost 100 pilots a week for the next 20 years to meet skyrocketing travel demand. Facing a shortage of candidates at home,
      BLOOMBERG  -  900 words
    • 499 19 Bosch worked ‘hand-in-glove’ with VW in emissions fraud: lawyers REUTERS Washington GERMAN car supplier Robert Bosch GmbH was a “knowing and active participant” in a decade-long scheme by Volkswagen AG (VW) to evade US emissions laws, according to lawyers for US owners of polluting VW diesel vehicles. In a court
      REUTERS  -  499 words
    • 436 19 REUTERS Seattle BOEING Co is not experiencing any slippage in demand for jetliners in China, despite the country’s sluggish pace of economic growth, a senior Boeing executive said on Wednesday. “We’re not seeing any softness yet,” Ihssane Mounir, Boeing’s senior vice-president
      REUTERS; PHOTO: REUTERS  -  436 words
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  • OPINION
    • 560 20 EDITORIAL BLOCKCHAIN, which is a decentralised public ledger of transactions that no person or company owns or controls, is the next big thing in the global financial industry. The importance of this technology cannot be overstated. By its very nature,
      560 words
    • 824 20  -  THE BOTTOM LINE By Denis MacShane T The writer is a former UK Minister of Europe, a senior adviser at Avisa Partners, and a member of the Official Monetary and Financial Institutions Forum advisory board. His book Brexit: Why Britain left Europe will be
      824 words
    • 1300 20  - Transparency hallmark of top annual reports It is why the judging in the Best Annual Report Award is weighted on how forthcoming and clear a company is about disclosure in its annual reports. BY EL’FRED BOO BY EL’FRED BOO T The writer is associate professor at Nanyang Business School of
      PHOTO:YEN MENG JIIN  -  1,300 words
    • 1034 21  -  COMMENTARY By Anthony Rowley IT HAS been argued so many times that Japan’s Abenomics policies have “failed” that they surely ought to have been consigned to the rubbish heap of history by now. And yet they live on, in ever-changing form reflecting the
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    • 809 21  -  By Fong Wai Mun T The writer is associate professor of finance at NUS Business School and advisory board member (Asia-Pacific) of Brandes Institute THE lure of making a quick buck is all too common among individual investors. In my book, The
      PHOTO: BLOOMBERG  -  809 words
    • 1259 21  -  If she becomes president, she won’t do anything that would make Wall Street or the Pentagon unhappy because you can’t be more Establishment than the former first lady By Leon Hadar EARLY this week, I think I heard a
      PHOTO: REUTERS  -  1,259 words


  • Page 22 Advertisements
    • 1904 22 THE BUSINESS TIMES M SHIPPING TIMES C a i l a n B r i s b a n e E n n o r e J e d d a h Shanghai Chittagong ~Ho Chi Minh H o n g J e b e l A i K o
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    • 244 22 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 188 PRW207 20/08/2016 21/08/2016 Pelindo/Perawang DAILY Marco Polo 132 TTS153 20/08/2016 21/08/2016 Tebing Tinggi/Jambi DAILY Marco
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  • CITY LIFE
    • 1022 23  -  Organiser Gwen Lee explains the theme and objectives of the latest edition of the Singapore International Photography Festival. BY AVANTI NIM BY AVANTI NIM avantin@sph.com.sg The fifth edition of the WHEN you’re holding a photography exhibition, what’s the best way to engage as many people
      PHOTOS: TOM STAYTE, WONG WO BIK, LAU WEI, DAIDO MORIYAMA  -  1,022 words
    • CITY BUZZ BT writers’ picks of what to see, do or talk about
      • 246 23  -  By Tay Suan Chiang DINING Chilli Pomelo Crab Challenge THINK you can handle the heat? Then you may want to take part in Blue Lotus Chinese Eating House’s Chilli Pomelo Crab Challenge. The dish comes in various levels of spiciness but for the challenge, the spice
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      • 164 23  -  VISUAL ART By Helmi Yusof AN architect and fashion designer by training, Lakshmi Mohanbabu created the Interaction Series of artworks (including the one at right) which comprise paintings inspired by the concept of the mandala which she then pairs with their sculptural versions. In Indian
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      • 203 23  - New menu at Gallery Co DINING By Rachel Loi THERE’S a new menu at the National Gallery Singapore’s retail and F&B space Gallery Co, showcasing the flavours of contemporary Singapore and designed by local chef Anthony Yeoh, who heads the rustic French restaurant Cocotte. This multicultural all-day-din-ing menu uses locally-sourced
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      • Article, Illustration
        140 23  -  FILM By Dylan Tan THE Japanese reclaim their favorite giant mutant lizard and show Hollywood how to make a monster flick with Shin Godzilla. Released domestically in late July, it has been smashing box offices back home and is on track to become the most successful film in
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      • 197 23  -  YELLOW RIBBON PROJECT By Cheah Ui-Hoon IF you believe in second chances, check out the Yellow Ribbon Community Art Exhibition at the Singapore Art Museum’s Level 3 gallery. The exhibition was launched on Aug 18 and will run until Sept 4. The exhibition was introduced
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  • ARTS/MUSIC
    • 665 24  -  The Singapore Lyric Opera’s version dates it all the way to the Bronze Age, allowing for a fantasy-like atmosphere. BY CHEAH UI-HOON BY CHEAH UI-HOON uihoon@sph.com.sg European productions of Puccini’s Turandot have traditionally set the opera in the Ching or Ming dynasties, but the
      665 words
    • 506 24  -  By Cheah Ui-Hoon uihoon@sph.com.sg WHAT a difference 20 years can make especially in Singapore, where change is an absolute constant. The arts scene itself (both visual and performing) has grown by leaps and bounds in two decades. In 1998, the idea of
      506 words
    • 391 24  -  By Dylan Tan dylantan@sph.com.sg @DylanTanSYBT GEEKY, bespectacled and standing at just 5’6” (1.69 metres), Rivers Cuomo looks more like a librarian than a rock star. But like Joseph Schooling, he’s living proof dreams can come true if you mix hard work with
      PHOTO: ALVIN HO/LAMC PRODUCTIONS; PHOTO: ALOYSIUS LIM/LAMC PRODUCTIONS  -  391 words
  • Page 24 Advertisements
    • 161 24 HANDCRAFTED TREASURES OF MID-AUTUMN Freshly made in-house by the culinary team at Wah Lok Cantonese Restaurant and Pastry Chefs at Carlton Hotel Singapore. SIGNATURE! Mini Walnut Moontart with Egg Yolk $66.30 POPULAR! Mini Red Velvet Snowskin $67.40 Mini “Mao Shan Wang” Durian Snowskin $72.75 HEALTHIER! White Lotus Paste (Low Sugar)
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  • WINE
    • 1076 25  -  The correct answer to when it’s drunk is “any time you feel like a sparkling wine!”. BY NK YONG BY NK YONG IT BEARS repeating that champagne is first and foremost a wine. The bubbles are the result of a second fermentation which
      PHOTO: BLOOMBERG; PHOTO: NK YONG  -  1,076 words
  • Page 25 Advertisements
    • 56 25 VINUM FINE WINES ANNUAL SALE STARTS TODAY! UP TO y 45% OFF More than 450 fine wines on offer with discounts up to 45% BORDEAUX: BURGUNDY: OTHERS: LEVEL 2 UNIT 12/13 SHAW CENTRE 1 SCOTTS ROAD (S) *****8 10.30AM 8PM DAILY DURING THE SALE PERIOD T. +65 6735 3700 E.
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  • ARTS
    • 743 26  -  Artist Zai Kuning will take his maritime sculpture and other explorations of the Malay Archipelago to the Venice Biennale 2017. BY HELMI YUSOF BY HELMI YUSOF helmi@sph.com.sg @HelmiBT FOR the past few years, artist Zai Kuning has been creating large, ghostlylooking boat
      PHOTOS: NAC, ZAI KUNING  -  743 words
    • 1137 26  -  The three shows that kicked off the six-week Singapore International Festival of Arts 2016 ranged from an actual bed encounter with a stranger to a one-man Hamlet in a spinning cube. BY HELMI YUSOF BY HELMI YUSOF helmi@sph.com.sg @HelmiBT Your life in 10 minutes EVERYTHING
      FILE PHOTO; PHOTO: KONG CHONG YEW; PHOTO: MOSTAFA ABDEL ALY  -  1,137 words
  • Page 26 Advertisements
    • 30 26 3If you're looking to buy or rent an HDB apartment, turn to the Print Classified Properties section. To advertise, call the Print Classified Hotline: 1800-289 9988. Need a room flat?
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  • Page 26 Miscellaneous
    • 306 26 CRYPTIC CROSSWORD Across 1 Scheme of theft by Tories (10) 6 Round of applause for writing (4) 10 Mellow, going topless on so many occasions (5) 11 Uncontrollable elation, boxing copper’s jab (9) 12 Extend time spent in gaol (7) 13 Statesmen must make bets (7) 14 island country about
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  • CINEMA
    • 687 27  -  Viewers will ponder the point of the whole exercise; regrettably, the answer is all too obvious. BY GEOFFREY EU BY GEOFFREY EU Remaking a classic film is a risky business, not least because apart from having to justify its very existence a new film is
      687 words
    • 620 27  -  By Geoffrey Eu INDIGNATION arrives amid the crush and the crash-bang of the summer movie season, in danger of being overlooked and overwhelmed by the noise and the nonsense that is so prevalent at this time of the year. Instead, this tale of death, sex,
      620 words
    • 489 27  -  By Dylan Tan dylantan@sph.com.sg @DylanTanSYBT IT’S great to see Steven Spielberg rediscovering his inner child after years of dabbling in serious historical drama with The BFG, a visually stunning adaptation of Roald Dahl’s 1982 children’s book about the unlikely friendship between a
      489 words
    • 446 27  -  By Dylan Tan dylantan@sph.com.sg @DylanTanSYBT HAS Hollywood officially run out of ideas? After plundering comic books and old TV series and churning out sequels and reboots, it has now turned its attention to YouTube for inspiration. Lights Out is based on a two-and-a-half minute
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  • BT Lifestyle
    • 597 28  -  Couch potatoes have a wide selection of content streaming services to choose from these days, to binge watch TV shows or stream the latest blockbuster movies. Some, like Netflix, offer a mix of shows and movies, while others, like Catchplay, focus solely on movies. Even StarHub and
      597 words
    • 328 28 FEES: US$8.99/month for Prime Instant Video only; US$10.99/month for Amazon Prime, which includes Prime Instant Video; US$99/year for Amazon Prime, which includes Prime Instant Video. PROS: Strong focus on US movies and TV shows, including Amazon original content such as Golden Globe winning dramedy Mozart In The
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    • 432 28 FEES: Viu Free tier Viu Premium: S$6.98/month Singtel Cast With One-Year Contract Without data: S$4.90/month per pack With 1GB of data: S$7.90 per pack Without Contract Without Data: S$6.90/month per pack With 1GB data: S$9.90 per pack PROS: Viu specialises in South Korean drama and variety
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    • Article, Illustration
      403 28 FEES: S$10.98 (standard definition, one stream); S$ 13.98 (high definition, two streams); S$16.98 (ultra high definition or UHD, four streams). PROS: Strong focus on US movies and TV shows. Offers 4K and High Dynamic Range (HDR) content, as well as Netflix orignal programming, such as Stranger Things, Daredevil and
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    • 359 28 sherwinl@sph.com.sg @SherwinLohBT FEES: catchplay Movie Fans: Free tier. Includes one free movie from a curated selection each month. Additional movies can be rented for S$3.50 each, with newer releases priced at S$6. Movie Lovers: S$ 14.90/month for unlimited views from the library, including one single movie
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