The Business Times, 31 August 2016

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Microfilm: NL33936
Total Pages: 26
1 26 The Business Times
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  • Title Section
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    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 Wednesday, August 31, 2016
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  • Article, Illustration
    Lock icon DAILY DIGEST
    235 1 Taxpayers in Singapore earn and contribute more to the government’s coffers despite slower economic growth, with IRAS’s tax collection hitting an all-time high of S$44.8 billion. TOP STORIES 2 Singapore banks are strong enough to withstand a sharp property market downturn despite their large exposure to the sector,
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  • Article
    Lock icon MARKETS
    26 1 Tuesday Change STI 2,828.39 -1.04 KL COMP 1,678.06 -3.54 NIKKEI 225 16,725.36 -12.13 HANG SENG 23,016.11 +194.77 SHENZHEN B 1,162.88 +0.01 Dow(11.45am EDT) 18,436.87 -66.12
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  • Article, Illustration
    Lock icon Too early to tell if Zika will hit S’pore economy hard, say observers
    985 1  -  The turnout at F1 race in mid-Sept will be earliest indication of scale of any visitor fallout; tourism and retail sales data for Sept will be released in Nov By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore THE first
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  • Article, Illustration
    Lock icon JTC says noteholders had enjoyed cheaper club membership fees
    886 1  -  The saga between the statutory board and its noteholders continues, with both sides justifying their stands in letters to BT By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore JTC debenture noteholders had already benefited when they purchased their Jurong Country Club (JCC) memberships
    SPH FILE PHOTO  -  886 words
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  • TOP STORIES
    • Article, Illustration
      Lock icon IRAS tax collection for FY15/16 hits all-time high of S$44.8b
      609 2  -  Amount makes up 11.1% of Singapore GDP; millionaires’ club swells to 5,141 people from 4,557 a year earlier By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore DESPITE slower economic growth, taxpayers have earned and contributed more to the government’s coffers in the
      Source: IRAS annual report 2015/16  -  609 words
    • Article
      Lock icon Industry watchers split over move on dual-class shares
      968 4  -  One camp says it makes SGX attractive for IPOs; the other is wary about the safeguards and setting a precedent By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore NOW that the Singapore Exchange (SGX) has opened up the issue of dual-class share listings, it
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    • Article, Illustration
      Lock icon Apple to unveil new features for iPad, Macs: sources
      904 4 BLOOMBERG San Francisco APPLE Inc is developing new features for the iPad to cater to professional users, along with new Mac laptops and desktops, say people familiar with the matter. As they were speaking without authority on products yet to be
      BLOOMBERG; PHOTO: BLOOMBERG  -  904 words
    • Article
      Lock icon EDBI invests in US cyber security firm LogRhythm
      486 4  -  B y Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore EDBI, the investment arm of the Singapore Economic Development Board (EDB), has taken part in a US$50 million funding round into LogRhythm, a Colorado-based security intelligence and analytics firm. EDBI’s investment, the amount of which
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    • Article
      Lock icon Strong demand for DBS US$ bond deal and two other issues
      564 4  -  By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore IT was a busy Tuesday for the Asian US dollar bond market. Besides the DBS USD Additional Tier 1 Perpetual bond deal, two Chinese issuers also tapped the market and orders for
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    • Article, Illustration
      Lock icon Tiger, tiger burning bright
      1046 6  -  Tiger Balm may be an old brand but it embraces innovation as the way forward to the next 90 years By Choo Yun Ting yuntingcs@sph.com.sg Singapore THE heritage brand Tiger balm has 90 years of history behind it in Singapore, and is a household name familiar
      PHOTO: AIDAN LOO  -  1,046 words
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      161 2 MEDICAL MANUFACTURING MEDICAL i. FAIR VASIA Region’s Leading Exhibitions for the Medical, Healthcare and MedTech Sectors ASIA 3rd Manufacturing Processes for Medical Technology Exhibition and Conference SEP 2016 11th International Exhibition on Hospital, Diagnostic, Pharmaceutical, Medical Rehabilitation Equipment Supplies 31 AUG 1 10.00am 6.00pm 2 SEP 2016 10.00am 5.00pm Sands
      161 words
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      121 3 'I fX0 m O, 'to. Q OMEGA S^ojf 9 8 v 4 I m o. v 6 OS RECORDING OLYMPIC DREAMS SINCE 1932 An Olympic medal is the ultimate sporting dream. A lifetime of dedication can be transformed into gold in less than a heartbeat. This summer in Rio, OMEGA's
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      85 5 BENTLEY 4 1 I fMXf, as SB sss 1 SSi MB ’■v Unparalleled performance, for all of life's roads. Bentayga. Introducing the extraordinary SUV. Experience it at the new home of Bentley. Wearnes Automotive Pte Ltd 45 Leng Kee Road, Singapore *****3 Tel: 6378 2628 Singapore.BentleyMotors.com Q Bentley Singapore Bentayga
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      161 6 The Business Times Showtime Productions present a night of jazz in collaboration with Esplanade Theatres on the Bay Jazzy Business September 30, 2016 Friday, 8pm Esplanade Concert Hall Celebrates BT’s 40th birthday and Cultural Medallion recipient Jeremy Monteiro’s 40th year in showbiz with a programme that includes Grammy-winning jazz guitarist
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      50 6 FREE ENTRY Singapore*^ INTERNATIONAL INDIAN EXP***** (Jyndki CQme& tcb umo SUNTEC CONVENTION EXHIBITION CENTRE, HALL: 401 402 22nd 25th SEPTEMBER 2016,10AM TO 10PM EXHIBITION HIGHLIGHTS FOR ENQUIRIES CONTACT *****112 *****219 ORGANISED BY OFFICIAL OUTDOOR MEDIA SUPPORTED BY I<siflijeo(ipTcf. tablat ’'/deideaz An Sph event l| spHmbO ll'#' visit: www.siiexpo.com I www.facebook.com/SIIExpo/
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon S’pore banks able to withstand a sharp property fall: Fitch
      955 7  -  Potential earnings impact manageable due to a proactive regulator and measures introduced to curb excessive debt By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore SINGAPORE banks are strong enough to withstand a sharp downturn in the property market despite their large
      PHOTO: REUTERS  -  955 words
    • Article
      Lock icon Singapore’s tech IPO push unlikely to be a game-changer
      510 7  -  COMMENTARY By Christopher Langner SINCE it became easier for investors to buy stocks overseas, it’s become more challenging for the Singapore Exchange to attract international listings. The bourse operator is looking to fight the disruption by becoming the venue of choice
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    • Article
      Lock icon CDLHT needs to bolster overseas presence
      857 8  -  HOCK LOCK SIEW BY NISHA RAMCHANDANI nishar@sph.com.sg @Nisha_BT OVERSEAS markets could prove key for CDL Hospitality Trusts (CDLHT) as a challenging hotel industry at home puts pressure on its performance. And with room supply slated to expand in Singapore between now and 2018, that
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    • Article, Illustration
      Lock icon Olive Green turns plastic eco-friendly
      1267 8  -  Its CornWare is a new biodegradable compound made of plastic and corn starch. BY CHIN YONG CHANG ycchin@sph.com.sg PETROLEUM-BASED plastic materials are a major contributor to global environmental problems, building up in oceans and landfills and harming all manner of animal life, says Olive Green
      PHOTO: ARTHUR LEE  -  1,267 words
    • Article, Illustration
      Lock icon Hafary sets eyes on overseas markets
      870 8  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore EVEN as it works hard to fight competition amid tapering domestic demand, Singapore’s homegrown building materials supplier Hafary Holdings is seeking to widen its geographic base through overseas markets such as Malaysia and the UK. This comes as
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    • Article
      Lock icon Shenzhen-Hong Kong link likely to start in November
      263 8 BLOOMBERG Beijing THE long-awaited link between stock markets in Hong Kong and the mainland city of Shenzhen is expected to start in mid to late-November, according to China’s markets regulator. Technical preparations for the link will take place from August to November,
      BLOOMBERG  -  263 words
    • Article, Illustration
      Lock icon Why governance lapses are recurring
      1020 9  -  Three key factors impose a continuing and increasing stress on the corporate governance system of companies. BY MAK YUEN TEEN DESPITE extensive reform efforts and increased awareness of corporate governance issues over the last 15 years or more, there are no apparent signs of governance
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    • CORPORATE DIGEST
      • Article
        Lock icon Ezion Holdings
        67 9 LIFTBOAT provider Ezion Holdings has made adjustments to its second-quarter and first-half results following the additional impairment of property, plant and equipment and intangible assets of an associate. As a result, profit after tax for the three months ended June 30, 2016, is now US$8.1 million instead of
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      • Article
        Lock icon Chip Eng Seng Corp
        67 9 SINGAPORE Exchange-listed Chip Eng Seng Corporation Ltd announced on Tuesday that the company’s wholly owned subsidiary, CES-Precast Pte Ltd, was awarded a contract for the supply of precast concrete items for the contract, “Construction of 4-In-1 Rail And Bus Depot And Reception Tunnels For Thomson-East Coast
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      • Article
        Lock icon Top Glove
        93 9 BURSA Malaysia-listed Top Glove Corporation Bhd, which is secondary listed in Singapore, has proposed to acquire a freehold property in Selangor for RM51.5 million (S$17.3 million). Its wholly owned subsidiary TG Medical Sdn Bhd entered into an agreement on Aug 30 with Star Shine Marketing Sdn Bhd to
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      • Article
        Lock icon Viva Industrial Trust
        89 9 PROPERTY trust Viva Industrial Trust said on Monday that it has secured an anchor tenant for an area at Viva Business Park (VBP) that was converted from industrial usage. It said the tenant, which will take up 38,000 sq ft of space, is a leading household name
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      • Article
        Lock icon Serrano Ltd
        130 9 INTERIOR design and furniture firm Serrano Ltd has received a letter of demand and a writ of summons, from lawyers acting for Maybank and VGS Imports Exports (VGS) respectively. The letter of demand informed Serrano Holdings that it has defaulted on payments due to Maybank, for a total
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    • Article, Illustration
      Lock icon STI / Catalist
      63 10 STI Catalist Straits Times Index Aug 30, 2016 2,828.39 -1.04 (-0.04%) Current streak 2 days Day high 2,846.38 Day low 2,823.91 52-week high 3,083.07 (Oct 26, 2015) 52-week low 2,532.70 (Jan 21,2016) FTSE ST Catalist index Aug 30,2016 439.86 +4.07 (+0.93%) Current streak 1 day Day high 440.88 Day low
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    • Article, Illustration
      Lock icon Market ends flat after rebound bid
      625 10  -  ST Index scales a high of 2,846 soon after the opening, but loses ground to close at 2,828.39 STOCKS By Kenneth Lim kenlim@sph.com.sg @KennethLimBT SINGAPORE share tried to stage a rebound on Tuesday only to fall flat at the finish line, tripped up by
      Source: Bloomberg  -  625 words
    • Article
      Lock icon STI STOCKS
      302 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 245 +1 246/243 257 209 6.3 6809.1 CapitaCom Trust 154.5 +0.5 155/153.5 159 127 5.6 4569.1 CapitaLand 307 -1 311/307 340 267 12.3 2.9 *****.9 CapitaMall Trust 214 +3 215/211 225 185
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    • Article
      Lock icon MOST ACTIVE
      35 10 VOLUME Noble 146,726,900 HSI*****MBeCW*****9 82,747,500 Spackman 78,801,400 Magnus Energy 52,300,100 HLH Grp 41,674,000 Market volume 1,351,649,000 VALUE Singtel 67,710,854 DBS Grp 33,154,421 UOB 30,885,068 OCBC Bank 28,212,908 Keppel Corp 21,122,472 Market value 697,660,000
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    • Article
      Lock icon SGX ETFS
      109 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 288 451 290/287 314/254 287/288 IS MS INDIA US$ US735 +17 372 735/728 772/575 734/735 91.9 DBXT MSPHILS US$ US214.5 +0.1 155 217.4/214.5 222.5/158.5 214.5/214.6 17.2 DBXT MSBANGL US$ US101.3 -1.4 70 101.3/101.3 106/93.7
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      76 10 Aug 30 VALUE CLOSE BT OB/OS -277.00 +13.00 BT CADI -*****.00 -1.00 BT 10-day MA -*****.00 -28.00 FTSE ST Mid Cap 678.55 +0.73 FTSE ST Small Cap 379.93 -0.48 FTSE ST All Share 694.45 +0.58 FTSE ST China Top 156.12 FTSE ST China 186.49 +0.14 FTSE ST
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      Lock icon STI / FTSE ST All-Share
      35 10 STI FTSE ST All-Share FTSE ST All-Share index Aug 30,2016 694.45 +0.58 (+0.08%) Current streak 1 day Day high 696.72 Day low 693.77 52-week high 743.17 (Oct 26, 2015) 52-week low 625.37 (Jan 21, 2016)
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      Lock icon STI / MSCI EAFE
      34 10 STI MSCI EAFE MSCI EAFE Index Aug 29, 2016 1,688.25 -14.18 (-0.83%) Current streak 1 day Day high 1,694.79 Day low 1,683.28 52-week high 1,779.25 (Oct 26, 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 6 3 1 0 0 7 6 3 Manufacturing 31 36 26 4 10 11 35 46 37 Commerce 19 17 10 5 3 6 24 20 16 Tpt/Stor/Comms 9 11 10
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      123 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 10,887 15 10,902 37,576 3 37,578 Manufacturing 67,296 56,117 123,413 66,340 1,111 67,451 Commerce 169,983 35,372 205,355 67,372 642 68,014 Tpt/Stor/Comms 85,848 1,823 87,671 131,238 177 131,414 Finance 16,129 20 16,149 103,329 3 103,332 Construction
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    • Article
      Lock icon UNUSUAL ACTIVITY
      80 10 VOL CLOSE($) CHANGE Progen 22.1 0.149 +0.077 +106.94 Koda 62.8 0.550 +0.120 +27.91 PEC 3,943.3 0.480 +0.045 +10.35 Kitchen Culture 221.0 0.130 -0.020 -13.33 Jasper Inv 3,450.0 0.004 +0.001 +33.33 Magnus Energy 52,300.1 0.001 -0.001 -50.00 China Intl 5.6 0.111 +0.019 +20.65 HMI 11,600.4 0.510 +0.035 +7.37 Swee
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    • Article
      Lock icon GAINERS
      72 10 BY CENTS CLOSE UP 52w high/low DBXT MSKorea US$ 5823 115.8 1.5 5878/4629 DBXT Nifty US$ ***** 84.5 0.5 *****/***** DBXT China50 US$ 3128 47.7 1.1 3211/2355 JMH USD 6034 46.3 0.6 6160/4500 Jardine C&C 4179 45.0 1.1 4520/2636 BY PERCENTAGE CLOSE UP 52w high/low Progen 14.9 106.9 7.7
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    • Article
      Lock icon LOSERS
      76 10 BY CENTS CLOSE DOWN 52w high/low DBS Bk 4.7% NCPS ***** -99.0 -0.9 *****/***** DBXT S&PShort US$ 1932 -31.3 -1.2 2362/1931 IS Asia BND US$ 1107 -13.6 -0.9 1126/1010 Prudential USD 1800 -13.6 -0.6 2500/1680 Great Eastern 2040 -10.0 -0.5 2332/1921 BY PERCENTAGE CLOSE DOWN 52w high/low Magnus Energy
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    • BROKERS’ TAKE
      • Article
        Lock icon Ezion Holdings | Hold
        84 10 Ezion Holdings Hold Target price: S$0.23 Aug 30 Close: S$0.235 UOB KayHian, Aug 30 EZION announced that differences in published full-year results from an associate saw its share of results from associates and jointly controlled entities fall by an additional US$11.7 million. Fundamentally, Ezion’s situation remains challenged in the oil
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      • Article
        Lock icon SATS | Hold
        150 10 SATS Hold Target price: S$4.70 Aug 30 close: S$4.86 OCBC Investment Research, Aug 30 SATS Ltd (SATS) recently announced that it has won a tender to build and operate a cargo terminal in Dammam, Saudi Arabia, and thus will become the second cargo terminal operator in King Fahd International Airport.
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      • Article
        Lock icon Croesus Retail Trust | Accumulate
        197 10  - Croesus Retail Trust Accumulate Compiled by Kenneth Lim Target price: S$0.93 Aug 30 close: S$0.855 Phillip Securities Research, Aug 29 SAGA City and Asahikawa City, where the latest two acquisitions Mallage Saga and Feeeal Asahikawa are located, are cities with small declining populations, unlike most of the other cities where
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    • Article
      Lock icon CALENDAR
      14 10 DATA I Aug 31 Singapore Bank Lending US S&P/Case Shiller Home Price Index
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    • Article
      Lock icon US dollar off highs as investors seek more guidance
      435 11 CURRENCIES REUTERS London THE US dollar held firm on Tuesday, just below the previous day’s high as investors focused on the next set of US data to see whether it supports expectations that the Federal Reserve will raise interest rates soon.
      REUTERS  -  435 words
    • FOREX RATES
      • Article, Illustration
        Lock icon HANG SENG
        2 11
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      • Article
        Lock icon INTERBANK CROSS RATES
        471 11 Aug 30 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.984 5.042 0.676 5.855 50.635 100.180 0.773 8.445 3.060 1.044 79.105 35.091 1.029 10.874 0.739 23.960 26.095 0.577 0.755 Canada 1.016 5.122
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        Lock icon SHANGHAI COMPOSITE
        2 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 Aug 30 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0284 1.0292 0.7546 0.7551 Canadian dollar 1.0450 1.0455 0.7670 0.7668 Euro 1.5221 1.5227 1.1169 1.1172 NZ dollar 0.9854 0.9863 0.7231 0.7236 Sterling pound 1.7820 1.7828 1.3076 1.3080
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      • Article
        Lock icon us$/s$ FORWARD RATES
        22 11 Aug 30 S$ Bid Offer 1-month 1.3627 1.3632 2-months 1.3629 1.3633 3-months 1.3631 1.3634 6-months 1.3632 1.3637 Source: OCBC
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      • Article, Illustration
        Lock icon NIKKEI
        1 11
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        209 11 Most active Aug 30 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left HSI ***** MB eCW*****9 9.8 1.2 ***** 0.0 1 DBS MB eCW*****1 11.2 0.1 3337 0.1 1550 6 FTSEChinaA50 9500 MBePW*****8 7.2 -0.6 3153 0.0 2 HSI
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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 Aug 29 Index Change Change Change Change Change Change World Preliminary 1309.1 0.5 2.5 0.8 -0.4 0.0 3.8 EAFE Preliminary 968.6 0.3 -4.4 -0.1 -5.6 -0.8 -1.6 Europe Preliminary 1392.8 -0.1 -1.4
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        393 11 Aug 30 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Aug16 9712.50 9802.50 9695.00 9771.55 ***** *****8 Sep16 9745.00 9840.00 9727.50 9780.00 *****0 *****7 NIKKEI 225 INDEX FUTURES Sep16 *****.00 *****.00 *****.00 *****.00 ***** *****5 Dec16 *****.00 *****.00 *****.00 *****.00 732 7576 MSCI TAIWAN
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 11 Aug-29 Price Net change change Last Trade Agricultural Aug-29 CBOT Soybeans (US cents/bu) 983.25 -7.50 -0.76% 14/09/2016 CBOT Soybean Oil (US cents/lb) 32.81 -0.14 -0.42% 14/09/2016 CBOT Wheat (US cents/bu) 370.50 -13.00 -3.39% 14/09/2016 Aug-26 LIFFE Cocoa (£/tonne) 2429.00 3.00 0.12% 15/09/2016 LIFFE Coffee (US$/tonne) 1783.00 22.00 1.25%
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 11 Aug 30 $S Offer Bid 0vernight 0.03 Par 1-month 0.625 0.375 2-months 0.8125 0.6875 3-months 0.875 0.75 Overnight mode: 0.25 US$ 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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      • Article
        Lock icon GOVERNMENT SECURITIES
        67 11 Aug 30 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****A 4.000 01-Sep-18 106.19 106.25 106.24 5-Year NX*****X 2.250 01-Jun-21 104.15 104.27 104.15 10-Year NX*****F 2.125 01-Jun-26 102.78 15-Year NZ*****F 2.875 01-Sep-30 109.53 109.65 109.65 20-Year NZ*****X 2.250 01-Aug-36 101.42 101.55 101.45
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    • Article
      Lock icon SGX MAINBOARD
      1860 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Company Last Sale Vol ('000) High Day 149 127 AIMSAMP Cap Reit 140.5 +0.5 117 141 139 0.9 8.1 895.4 Div 144 101 ARA Asset Mgmt 135.5 +1 352 136.5
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    • Article
      Lock icon SGX CATALIST
      226 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Company Last Sale vol ('000) High Day Low 44.5 29.5 t Advancer Global 43.5cd +2 4417 44 41.5 17.3 75.3 C'vr GrYld 19.9 8.3 t Anchor Resources 10.1 -0.1 7526 10.4
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    • Article
      Lock icon SGX ETF
      116 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale vol 3211 2355 DBXT China50 US$ US3128 +35 2 3128 3128 8.6 Day Low 5878 4629 DBXT MSKorea US$ US5823 +85 5 5823 5801 8.4 C'vr 222.5 158.5
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  • Page 7 Advertisements
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      Lock icon Page 7 Advertisements Column 1
      112 7 SINGAPORE MEDIATION LECTURE 2016 Bringing Dispute Resolution to the Internet: Online Dispute Resolution Speaker Mr. Colin Rule Co-Founder and Chief Operating Officer of Modria.com Wednesday, 12 October 2016 5.30pm to 7.00pm (Registration starts at 5.00pm) Venue Singapore Management University Mochtar Riady Auditorium, Administration Building Level 5 81 Victoria Street, Singapore
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      Lock icon Page 7 Advertisements Column 2
      89 7 Revision to Minimum Energy Performance Standards (MEPS) for AIR-CONDITIONERS from 1 Sept 2016 Effective Who are affected? Importers, manufacturers, distributors, retailers and others who supply air-conditioners in Singapore. What is the NEW requirement? Minimum energy performance standards will be RAISED to 2-ticks for all household air-conditioners except casement and window
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  • Page 8 Advertisements
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      85 8 STAND OUT IN YOUR FIELD This company is one of the 16 finalists of the Emerging Enterprise Award 2016. Jointly presented by The Business Times and OCBC Bank, the Emerging Enterprise Award 2016 recognises promising enterprises and startups which are up to 10 years old and have an annual turnover
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      12 8 Shenzhen express set to go but it’s not for everyone, Page 21
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      143 9 PICTET Pictet-Absl Rtn Fxd Inc-HP EUR Pictet-Asian Equities Ex Japan-P USD Pictet-Asian Local Currency Debt-P USD Pictet-Biotech-P USD Pictet-Clean Energy-P USD Pictet-Digital Communication-P USD Pictet-Em Lcl Ccy Dbt-P USD Pictet-Emerging Europe-P EUR Pictet-Emerging Markets-P USD Pictet-EUR Bonds-P Pictet-EUR Corporate Bonds-P Pictet-EUR Government Bonds-P Pictet-EUR High Yield-P Pictet-EUR Short Mid-Term Bonds-P
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      Lock icon Page 9 Advertisements Column 2
      354 9 If r a Learn about prevention, detection and treatment for heart related diseases and stroke from Dr Michael Lim, internationally reowned interventional cardiologist and also a regular contributor of health related articles in The Business Times every fortnightly. Learn about sleeping disorder, snoring, fatigue, and sinus problems from Dr Dennis
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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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  • REAL ESTATE|13
    • Article
      Lock icon Aussie office deals down the most since H108
      282 13 BLOOMBERG Singapore DEALMAKING in Australia’s office market has plunged by the most since the global financial crisis as owners hang on to assets that are among the highest-yielding in the region. Commercial property transactions in Australia fell 57 per cent to US$7.5
      BLOOMBERG  -  282 words
    • Article, Illustration
      Lock icon Yun Nam boss picks up GCB at Brizay Park
      626 13  -  Latest deal brings to at least 23 the number of GCB transactions so far in 2016 By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore YUN Nam Hair Care boss Andy Chua is understood to have picked up a Good Class Bungalow (GCB) along
      PHOTO: GOOGLE MAPS  -  626 words
    • Article, Illustration
      Lock icon Machiya dwellings in Kyoto get a new lease of life
      565 13 REUTERS Kyoto FOR generations, artisans and merchants in Japan’s ancient capital of Kyoto lived in thousands of traditional machiya (traditional townhouse) that are steadily disappearing or falling into disrepair. To help restore the wooden-and-tile-roof structures, banks in Kyoto have tailored
      REUTERS; PHOTO: REUTERS  -  565 words
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      625 13 The Art of ITALIANO In partnership with HSBC4X> (/i/A'fo f/ta/ia/io <Saent& ■rm A o il Cielo, Hilton Singapore f 4 DINING Bit •TK J v o<' Jt The Colours of Tuscany with the wines of Castello ColleMassari and Grattamacco 7 Sep 7pm il Cielo, Hilton Singapore $171.20++ (HSBC cardholders) $214.00
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  • BANKING & FINANCE
    • Article
      Lock icon UK banking startups turning to deposit funding
      571 14 Regulators in talks with about 20 firms seeking to take deposits, more than the total approved in past 3 years BLOOMBERG London AS Europe’s largest banks discourage new deposits, a score of British startup lenders see them as more crucial than ever. Banks
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    • Article, Illustration
      Lock icon Top HSBC executive pleads not guilty to rigging forex markets
      562 14 BLOOMBERG New York AN HSBC Holdings plc executive pleaded not guilty on Monday to rigging foreign-exchange (forex) markets in the first US case of its kind. Mark Johnson, HSBC’s global head of forex cash trading in London, was arrested in
      BLOOMBERG; PHOTO: REUTERS  -  562 words
    • Article
      Lock icon No cut to annual growth limit on Aussie mortgage loans
      414 14 REUTERS Sydney AUSTRALIA’S banking regulator has no intention to lower its annual lending growth limit of 10 per cent on loans to speculative property investors, chairman Wayne Byres said on Tuesday, even as overall home lending remains high. Australian banks
      REUTERS  -  414 words
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      1604 14 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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      586 14 IN THE MATTER OF THE COMPANIES ACT, CHAPTER 50 LINK CONSULTING PTE. LTD. (Registered in Singapore) (Co. Reg. No:*****3734N) (the “Company”) MEMBER’S VOLUNTARY LIQUIDATION At an Extraordinary General Meeting of the Company deemed to be held on 23 August 2016, the following resolutions were duly passed: 1. SPECIAL RESOLUTION WINDING-UP
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      31 14 4Want access to BBQ pits? If you're looking for your dream condo complete with facilities, turn to the Print Classified Properties section. To advertise, call the Print Classified Hotline: 1800-289 9988.
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Oil discoveries at 70-year low signal a supply shortfall ahead
      1023 15 Drillers have slashed their exploration budgets after prices tumbled by more than half two years ago BLOOMBERG Oslo EXPLORERS in 2015 discovered only about a tenth as much oil as they have annually on average since 1960. This year, they’ll
      BLOOMBERG; PHOTO: REUTERS  -  1,023 words
    • Article
      Lock icon Oil market rebalancing could take until end 2017: Shell
      302 15 REUTERS Stavanger, Norway THE huge global oil oversupply that has weighed on prices for the past two years may not clear until the second half of 2017, Shell’s chief energy adviser Wim Thomas said. The potential return to the market of
      REUTERS  -  302 words
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      2115 15 itflniaAfifnw JS&fi SEE THE WORLD THROUGH THEIR BLOGS Chinese Language 0 'iS SCAN&READ n*m NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices NOVO GROUP LTD. (Incorporated in Singapore with limited liability) (Company Registration No. *****2648H) Singapore Stock Code: MR8 Hong Kong Stock Code: 1048 NOTICE OF ANNUAL GENERAL MEETING
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  • TECHNOLOGY
    • Article
      Lock icon VMware in enhanced cloud tie-up with IBM
      725 16  -  Company also unveils at its annual global event in Las Vegas new tools and products to enhance its cloud-computing offerings By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Las vegas ON the opening day of its annual global event VMworld 2016 on Monday, US data
      725 words
    • Article
      Lock icon EU tells Apple to pay up to 13b euros in tax to Ireland
      492 16 REUTERS Dublin THE EU antitrust regulators ordered Apple on Tuesday to pay up to 13 billion euros (S$ 19.8 billion) in taxes to the Irish government after ruling that a special scheme to route profits through Ireland
      REUTERS  -  492 words
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      Lock icon Autism becoming Silicon Valley asset with social quirks
      854 16 AFP San Francisco COREY Weiss may not be adept at body language or social cues, but he knows software. Laser-focus on detail that comes with his place on the autism spectrum is part of what makes Mr Weiss a top analyst at
      AFP; PHOTO: AFP  -  854 words
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      469 16 comex 8-11 SEP 2016 SUNTEC SINGAPORE L3 11AM 9PM DAILY L4 L6 12 9PM DAILY TRADE-IN and get CASH VOUCHERS* to spend at COMEX! m Laptops, PCs Smartphones Tablets, Monitors" TVs, Gaming Consoles Gaming Software TECH SHOWCASE See and Test the latest in Technology ll Exhibits Inc www.comexshow.com.sg Images for
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      429 16 Kick-start your investment strategy with tips from $how Me The Money $how Me The Money Book 4 is now available at leading bookstores and www.stpressbooks.com.sg IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF BCIM PTE. LTD. (Company Registration No.: *****2077C) (IN MEMBERS’ VOLUNTARY LIQUIDATION)
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  • CONSUMER
    • Article, Illustration
      Lock icon G-Shock staying relevant amid smartwatches
      736 17 It will focus on connecting its watches to smartphones, rather than trying to mimic them BLOOMBERG New York G-SHOCK creator Kikuo Ibe sits in a makeshift showroom, surrounded by dozens of G-Shock watches that include a prototype model from 1982. It still works, his translator
      BLOOMBERG; SPH FILE PHOTO  -  736 words
    • Article
      Lock icon Lowe’s seeks to wind up venture with Woolworths
      207 17 BLOOMBERG Sydney LOWE’S Cos asked an Australian court on Monday to appoint a liquidator to wind up its home-improvements business with Woolworths Ltd, accusing its partner in the venture of “oppressive” and “prejudicial” behaviour. Woolworths last week announced a three-step plan to
      BLOOMBERG  -  207 words
    • Article
      Lock icon Failed deal reinforces Hershey’s image as a company not for sale
      490 17 BLOOMBERG New York THE latest failed acquisition of Hershey Co has renewed the chocolate maker’s reputation as a company that can’t be bought. After Mondelez International Inc abandoned merger discussions on Monday, Hershey shares plunged as much as 12
      BLOOMBERG  -  490 words
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      1883 17 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices MACQUARIE BANK LIMITED Head Office: 50 Martin Place, Sydney NSW 2000, Australia Singapore Branch: 10 Marina Boulevard #17-01, Marina Bay Financial Centre Tower 2, Singapore *****3 CONSOLIDATED INCOME STATEMENTS for the financial year ended 31 March 2016 2016 AUDm 2015 AUDm
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      235 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF ADIGENICS PTE. LTD. (In Creditors’ Voluntary Liquidation) (Co. Reg. No. *****2486K) NOTICE OF RESOLUTION At an Extraordinary General Meeting of the abovenamed Company duly convened and held on the 23rd day of August 2016, the Special
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      137 17 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF AUGMENT MARKETING PTE LTD (In Creditors’ Voluntary Liquidation) Reg. No. *****3899M NOTICE OF RESOLUTION At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 20 Havelock Road #02-37 Central Square Singapore *****5
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  • TRANSPORT
    • Article
      Lock icon Tough job representing bunker industry
      732 18  -  This complex sector is entering a period of great change and adjusting to new realities will be difficult STRAIT TALK BY DAVID HUGHES A GROUP from within Singapore’s bunkering community has formed an association, following on from a Maritime Port Authority of Singapore (MPA) dialogue
      732 words
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      Lock icon MPA to reduce incident risk off S’pore: Khaw
      628 18  -  By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore THE Maritime and Port Authority of Singapore (MPA) is stepping up efforts to reduce incident risk for passenger ferries and smaller vessels plying Singapore waters. These come after the incident involving passenger ferry Sea Prince
      628 words
    • Article
      Lock icon Banks dropping support for Hanjin Shipping, say sources
      568 18 trade data provider Datamyne. REUTERS Seoul CREDITOR banks of Hanjin Shipping Co Ltd have decided to stop supporting South Korea’s largest carrier, increasing the likelihood that the company will enter court receivership, two people at the creditor banks said. A spokesman for
      trade data provider Datamyne. REUTERS  -  568 words
    • Article
      Lock icon Tokyo probe finds Mitsubishi falsified mileage for 8 more models
      272 18 lion.REUTERS Tokyo JAPAN’S transport ministry on Tuesday ordered Mitsubishi Motors Corp to stop domestic sales of eight vehicle models after an investigation found that the carmaker overstated their fuel economy, the second such order in a matter of months. The
      lion.REUTERS  -  272 words
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      41 18 STAND TO WIN A PAIR OF BUSINESS CLASS Sign up for oui; The Straits free newsletter here: w t st i 'Terms apply and contest existing subscribers ill! 1 II m I 1 :i’r I f <P TIIU STRAIT'S TIMES straitstimes.com
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      191 18 This book guides us through the REITs investments in a step-by-step and comprehensive manner. Coupled with actual case studies of REITs in Singapore, you will learn the methods to grow your wealth with the higher dividend/investment returns from REITs. Investing in REITs is equivalent to investing in properties, but with
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      59 18 Ok/i h \lwn& Photos of NDP are also available Browse all items at http://m.photobank, com.sg Magic Mug "I 1 ov eS vassal fo lv SJSSE sph FotoHub PHOTOBANK ST S AWARD-WINNING ARTISTS All images used are for illustrative purposes only. Individual features may vary. ‘The design on the black Magic
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  • OPINION
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      Lock icon Disruption is here to stay, and it’s time to face the challenges head-on
      558 20 EDITORIAL DISRUPTION is all around us, and it is gradually making its way to every organisation in every industry, both in Singapore and around the world. The incumbent businesses naturally see it as a threat to their
      558 words
    • Article
      Lock icon Sifting for signs of the next Swiber
      802 20  -  THE BOTTOM LINE By Elena Okorochenko T The writer is managing director and head of Asia-Pacific (ex-Japan) at S&P Global Ratings THE fallout from the 2014 oil price slump has hit Singapore’s shores, with the Singapore-listed marine engineering company Swiber Holdings Ltd recently
      802 words
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      Lock icon 3 steps to innovating without denting profit
      1153 20  -  SMEs can juggle short-term needs and long-term aspirations. BY ALEX TAN TAI LOONG T The writer is a senior research fellow at the Institute of Policy Studies, National University of Singapore HOW can an organisation be more innovative, without sacrificing profits? This question,
      PHOTO: REUTERS  -  1,153 words
    • Article
      Lock icon Europe still a global force despite its many big challenges
      811 21  -  COMMENTARY By Elmar Bouma T The writer is executive director South-east Asia, at the Netherlands Foreign Investment Agency (NFIA) WITH unsettling news coming out of Europe, from the refugee crisis and “Brexit” to terrorism, a casual observer from Asia might
      811 words
    • Article
      Lock icon JTC’s treatment of Jurong Country Club notes grossly unfair, devoid of reason
      863 21  -  LETTERS TO THE EDITOR Lim Hung Siang Chairman for and on behalf of The Debenture Note working Committee I REFER to “JTC makes early-buyback offer for Jurong Country Club notes” (BT, Aug 26). The Debenture Note Working Committee’s
      863 words
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      Lock icon JTC should redeem JCC notes at par
      314 21  -  K K Lam I REFER to “JTC makes early-buyback offer for Jurong Country Club notes” (BT, Aug 26). I am a noteholder and wish to say that JTC’s offer to repurchase my S$120,000 note at only S$84,200 is totally unsatisfactory and unfair. If
      314 words
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      Lock icon Shenzhen express set to go but it’s not for everyone
      1168 21  -  The 200-plus start-ups listed on Shenzhen’s nascent Nasdaq-style ChiNext board are seen to be not “for the ordinary people”. BY SHU-CHING JEAN CHEN BY SHU-CHING JEAN CHEN CHINA has not succeeded in deflating a massive home-made asset bubble, in spite
      PHOTO: REUTERS  -  1,168 words
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      1757 22 MONTREAL 10 120 29/7 30/7 4/8 MONTREAL 10 120 29/7 30/7 4/8 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) SIN PKL KCH KK JKT SUB MALAYSIA STAR 62 50 9/9 11/9 14/9 16/9 RAINBOW SYMPHONY 001 60 10/9 12/9 16/9 18/9 NOBLE CORAL
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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 262 PRW071 01/09/2016 02/09/2016 Perawang/Perawang DAILY Marco Polo 108 BST221 01/09/2016 02/09/2016 Buatan/Buatan DAILY Marco Polo
      244 words
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  • LIFE & CULTURE
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      Lock icon Model fights ‘weighty’ issue
      912 23 S Korea model mocked as “flat-out fat” and “disgusting” faces down trolls with successful online shop AFP Seoul IN a country with beauty ideals that pre-makeover Barbie would struggle to meet, South Korean plus-size model Vivian Geeyang Kim is facing down online trolls in her defiant
      AFP; PHOTOS: AFP  -  912 words
    • Article, Illustration
      Lock icon Modern wine cellars go beyond basics
      1036 23 BLOOMBERG New York WHEN somebody brags about his wine cellar, do you picture a cold, damp, cobwebby underground space that’s so dark you can barely spy bottles by the light of your smartphone? If you answered yes it’s time to get with it. Today’s
      BLOOMBERG; PHOTO: AFP  -  1,036 words
    • Article
      Lock icon Working from home: Is this the future?
      671 23  -  By Justin Fox BLOOMBERG New York WORKING from home once meant cutting yourself off from almost all the resources of the office. As a result, people with office jobs seldom did it. The rise of home computers and email began to change that
      BLOOMBERG  -  671 words
  • Page 23 Miscellaneous
    • Miscellaneous
      Lock icon Page 23 Miscellaneous Column 1
      312 23 CRYPTIC CROSSWORD Across 1 Friendly question of what I can do (7) 5 Cut by instrument, doctor is cross (7) 9 Currency comes in handy getting Dutch pottery (5) 10 Launched attack but he’d give in, beaten (9) 11 One struggles to study before exam exemplary worker (10) 12 Give
      312 words
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  • EXECUTIVE MONEY
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      Lock icon Traders are turning bullish on growth
      761 24  -  Equity traders are upbeat about miners, technological and industrial firms. BY SOFIA HORTA E COSTA BLOOMBERG GLOBAL equity traders are no longer panicking about the world’s slowest growth rate in seven years. They’re warming up to shares of companies that are most sensitive to
      BLOOMBERG; PHOTO: AFP  -  761 words
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      Lock icon Cash-on-tap means Super Sept for EM bond sales
      812 24 BLOOMBERG London THERE’S a 10-week window that emerging-market borrowers don’t want to miss. Between September and the US elections in early November, bond issuers from Saudi Arabia to Russia and Brazil to Papua New Guinea are poised to hit the market with
      BLOOMBERG; PHOTO: REUTERS  -  812 words
    • Article
      Lock icon Pimco to hire 20 people to target US$17.4 trillion Asian wealth
      353 24 BLOOMBERG Hong Kong PACIFIC Investment Management Co is seeking to expand in an increasingly affluent Asia. The US$1.5 trillion money manager is in the process of hiring more than 20 people in marketing, operations, legal and compliance teams in
      BLOOMBERG  -  353 words
    • Article
      Lock icon S’pore Post tops the sell stocks with S$139.8m
      459 24 ON THE RADAR GLOBAL mutual funds bought more Singapore stocks than they sold in the three months leading up to Aug 24. Based on transactions in the top five stocks, there were net buys of S$942.2 million, compared to net sells of
      459 words
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      Lock icon EMs see slow but sure recovery in 2017
      904 25  -  Emerging markets ex-China are on course for a gradual recovery by next year as economies enter a growth cycle. BY CHETAN AHYA, DERRICK KAM Chetan Ahya is co-head of Global Economics and chief Asia economist; while Derrick Kam is an economist. Both
      PHOTO: AFP; Source: Morgan Stanley  -  904 words
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      43 25 B?*’ jyfc -ft us in u ai" l&l r KU***** without incurring any local data charges*! Only on MS'#® M Lianhe Wanbao LIANHE ZAOBAO and six other S|5l mobile apps UFM 100.3 UifcfeiXJErfj'Z]! *Only for mobile postpaid subscribers Find out more: http://bit.ly/ZB_ZeroRating E
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