The Business Times, 28 September 2016

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Total Pages: 32
1 32 The Business Times
  • 22 1 THE BUSINESS TIMES A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BusinessTimes MCI (P) 052/08/2016 Wednesday, September 28, 2016 S$1.20 CO REGN NO *****2868E
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  • Article, Illustration
    200 1 Singapore’s population hits 5.61 million, up 1.3 per cent from a year ago, according to the National Population and Talent Division. TOP STORIES 2 M&G Real Estate is eyeing more retail and logistics assets in Asia, where it already has US$2.5 billion in assets under management. TOP STORIES
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  • 27 1 Tuesday Change STI 2,860.23 +10.29 KL COMP 1,664.72 -4.78 NIKKEI 225 16,683.93 +139.37 HANG SENG 23,571.90 +253.98 SHENZHEN B 1,179.50 +1.10 DOW (11.45 EDT) 18,178.10 +83.27
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  • 1049 1  -  Its second Financial Reporting Surveillance finds accounting errors, but it says it is encouraged by the willingness of companies to correct them By Michelle Quah michquah@sph.com.sg @MichelleQuahBT Singapore ONE Singapore-listed company overstated its profit before tax by 90 per cent when
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  • 954 1  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore AS A sophisticated financial centre, Singapore needs to step up to “aggressively target” more complex cross-border cases of money laundering, even as it is armed with a strong regulatory framework to fend off dirty money and
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  • Page 1 Advertisements
    • 120 1 *****1 *****1 THE BUSINESS TIMES A masterclass of market insights from Dr Marc Faber John Jacob Ballroom The St Regis Singapore Saturday 22 October, 12 noon Hear from the author of the Gloom, Boom and Doom Report and learn about the market opportunities and dangers to the economic world as
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    • 14 1 HOCK LOCK SIEW Omni-channel the way to go for Singapore retailers COMPANIES MARKETS 8
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    • 23 1 US ELECTIONS The myth behind ‘winning’ the debate opinion/ 28 FERNVALE TENDER Sing Holdings-Wee Hur JV puts in top bid real estate /18
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  • TOP STORIES
    • 725 2  -  There were 33,725 citizen births in 2015, the highest in over a decade and more than that in 2012 Dragon year By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore SINGAPORE’S population grew by 1.3 per cent to reach 5.61 million in June, said the National Population
      Source: Department of Statistics, Ministry of Manpower, Immigration & Checkpoints Authority; FILE PHOTO  -  725 words
    • 738 2  -  By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore ASIAN export growth is likely to pick up next year, after a year of flat shipments, the World Trade Organisation (WTO) has said. In its latest outlook for global trade, it tips export
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    • 902 4  -  The aim is to have half its global AUM residing outside its home market, the UK, in the long term By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore M&G Real Estate, the property investment arm of Prudential plc, is eyeing more retail
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    • 861 4 US ELECTIONS NYTIMES New York SOME debates seem to transform the fundamentals of a political campaign. The first clash between Hillary Clinton and Donald Trump on Monday was not one of those events. Rather than shifting the lines of the
      NYTIMES; PHOTO: AFP  -  861 words
    • 347 4 REUTERS London STANDARD Chartered has referred allegations of impropriety at an Indonesian power company that the bank’s private equity arm invested in to the appropriate authorities, the bank said on Tuesday. The Wall Street Journal earlier reported the
      REUTERS  -  347 words
    • 691 4 BLOOMBERG Bangkok EMERGING-MARKET stocks and currencies rose as investors bet Hillary Clinton won the first of three American presidential debates, outweighing concern a Donald Trump victory in November elections may plunge financial markets into turmoil. Mexico’s peso rebounded from a
      BLOOMBERG  -  691 words
    • 796 6  -  Country’s share of global imports rose from 3% in 2000 to about 10% in 2015 GLOBAL GROWTH By Anthony Rowley btworld@sph.com.sg Tokyo CHINA’S “rebalancing” has been a much bigger factor behind the prolonged weakness in the global economy than
      PHOTO: AFP  -  796 words
    • 606 6  -  By Anthony Rowley btworld@sph.com.sg Tokyo ASIA is helping to stabilise growth in the global economy albeit at relatively low levels as growth in the region’s leading economies remains steady while that in major advanced economies is easing, the Asian Development
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  • Page 2 Advertisements
    • 310 2 GOVERNANCE FOR CHARITIES IN THE 21 st CENTURY 28 September 2016 9.00am 4.00pm Mandarin Orchard Singapore Organised by siAs Supported by A Programme Highlights 28/9 WEDNESDAY 9.00AM-12.30PM CHARITY GOVERNANCE CONFERENCE 2016 Lessons on Corporate Governance Applicable to Charities Investing Surplus Funds 28/9 WEDNESDAY 2.00PM 4.00PM GOVERNANCE WORKSHOPS Workshop 1: Effective
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    • 17 2 Discover Greener Pastures Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices
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    • 8 2 WTO drastically cuts global trade forecast, Page 24
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  • Page 3 Advertisements
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  • COMPANIES & MARKETS
    • 755 7  -  Advocacy group for minority shareholders cites valuation issues and IFA’s finding that offer by Halcyon Agri is unfair By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore THE Securities Investors Association of Singapore (SIAS) has reiterated its call for Halcyon Agri Corp to raise its offer
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    • 330 7 BLOOMBERG Singapore SHARES in United Engineers Ltd (UEL) jumped to a 14-month high after OCBC Bank and an affiliate said that they were reviewing options for their combined stake in the century-old Singapore property and construction company. OCBC; its insurance
      BLOOMBERG; Source: Bloomberg  -  330 words
    • 323 7 Singapore OCBC Bank has appointed Elaine Lam Su Yen as its new head of global corporate banking following her predecessor George Lee’s retirement after 16 years with the bank. “In this new role, Ms Lam is responsible for OCBC Bank's
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    • 1049 8  -  HOCK LOCK SIEW BY AMIT ROY CHOUDHURY amit@sph.com.sg @AmitRoyCBT Minister for Trade and Industry (Industry) S Iswaran’s recent call for retailers to transform their business by using unconventional channels such as online sales and engaging shoppers through mobile applications to stay relevant
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    • 379 8  -  By Renald Yeo yrenald@sph.com.sg Singapore SINGAPORE Press Holdings’ subsidiary ShareInvestor is planning to offer through its latest venture online investor relations services to at least 30 listed and private companies in Australia and New Zealand in the next 12 months. This follows its
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    • 696 9  -  Swiss private bank Lombard Odier says it is reassessing the role of fixed income in its portfolios By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore FIXED income is no longer an asset class, said Salman Ahmed, chief investment strategist at Swiss private bank Lombard Odier.
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    • CORPORATE DIGEST
      • 67 9 KEPPEL Corporation’s Keppel Land has agreed to acquire a 25 per cent stake in Quoc Loc Phat Joint Stock Company (QLP) for 412.33 billion dong (S$25.6 million), raising its effective stake in the real estate development firm to 45 per cent. The sale and purchase agreement was inked
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      • 70 9 MAIN BOARD-LISTED lifestyle brand F J Benjamin Holdings on Tuesday posted notice of three consecutive years of losses. It said that it has recorded “pre-tax losses for the three most recently completed consecutive financial years”. Its latest six-month average daily market capitalisation as at Monday was S$38.8 million.
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      • 78 9 SINGAPORE Telecommunications (Singtel) said on Tuesday it has priced US$500 million of 10-year notes at 2.375 per cent. The notes will mature in 2026, and will be drawn down under Singtel Group Treasury’s S$10 billion Euro Medium Term Note Programme guaranteed by Singtel. They have been rated Aa3 by
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      • 53 9 PROPERTY developer Sing Holdings and Wee Hur Holdings have emerged as the highest bidders for a land parcel at Fernvale Road in the Sengkang neighbourhood. A joint venture that is 70 per cent held by Sing Holdings and 30 per cent held by wee Hur offered S$287.1 million
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    • 516 9  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur AMID tepid economic activity and softer loans growth, one lender has emerged as a viable alternative to banking stocks owing to its resilient micro-financing business and healthy receivables growth. Given that its receivables remain healthy, its
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    • 578 9 BLOOMBERG Hong Kong INVESTORS are so hungry for yields in Asia’s junk bond market that even some of the riskiest firms are coming to market. Imperial Pacific International Holdings Ltd plans to sell dollar bonds for the first time
      BLOOMBERG  -  578 words
    • 388 9 BLOOMBERG Shanghai THE Shanghai Stock Exchange is considering raising the threshold for property developers to sell exchangetraded notes, according to people familiar with the matter. Under the rules being considered, the exchange would only accept note-offering applications from developers rated AA
      BLOOMBERG  -  388 words
    • Article, Illustration
      63 10 STI Catalist Straits Times Index Sept 27,2016 2,860.23 +10.29 (+0.36%) Current streak 1 day Day high 2,865.70 Day low 2,831.87 52-week high 3,083.07 (Oct 26, 2015) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist Index Sept 27,2016 444.38 +0.74 (+0.17%) Current streak 5 days Day high 445.23 Day low
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    • 622 10  -  ST Index closes 10.3 points higher after the ‘relief’ rally loses some strength, but volume below par at S$853 million STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT MARKETS on Tuesday reacted to news that US Democratic presidential candidate Hillary Clinton most probably won the
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    • 303 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 248 +2 249/245 257 209 6.2 6892.5 CapitaCom Trust 161.5 +2 161.5/159 164 127 5.3 4784.5 CapitaLand 317 +2 319/313 340 267 12.7 2.8 *****.4 CapitaMall Trust 214 unch 215/212 225 185
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    • 35 10 VOLUME Ezra 234,185,000 Noble 145,008,300 Magnus Energy 69,555,700 Rex Intl 63,653,500 GCCP 48,934,500 Market volume 1,736,942,000 VALUE Singtel 83,610,821 UOB 63,341,386 DBS Grp 47,700,263 Ascendas Reit 35,623,712 OCBC Bank 30,260,624 Market value 877,430,000
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    • 110 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS INDIA US$ US739 +8 146 739/736 772/575 739/745 92.4 STI ETF 291 +2 143 291/288 314/254 290/291 DBXT MSINDO us$ US1480 +23 57 1484/1451 1534/911 1480/1530 DBXT MSBrazil US$ US371 +2 43 371/370 391/190
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    • 77 10 Sep 27 VALUE CLOSE BT OB/OS 57.00 +254.00 BT CADI -*****.00 +54.00 BT 10-day MA -*****.00 +6.00 FTSE ST Mid Cap 690.26 +2.86 FTSE ST Small Cap 382.94 -0.05 FTSE ST All Share 702.84 +2.52 FTSE ST China Top 160.53 +0.01 FTSE ST China 197.24 -0.13 FTSE
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    • 35 10 STI FTSE ST All-Share FTSE ST All-Share index Sept 27,2016 702.84 +2.52 (+0.36%) Current streak 1 day Day high 703.55 Day low 696.84 52-week high 743.17 (Oct 26, 2015) 52-week low 625.37 (Jan 21, 2016)
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    • 33 10 STI MSCI EAFE MSCI EAFE Index Sept 26,2016 1,701.61 -15.13 (-0.88%) Current streak 2 days Day high 1,718.72 Day low 1,696.26 52-week high 1,779.25 (Oct 26, 2015) 52-week low 1,492.43 (Feb 12, 2016)
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    • 186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 6 3 1 0 0 6 6 3 Manufacturing 43 25 24 12 11 6 55 36 30 Commerce 17 17 13 5 1 6 22 18 19 Tpt/Stor/Comms 14 9 8
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    • 121 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 14,381 129 14,510 42,431 21 42,453 Manufacturing 72,683 57,613 130,296 70,324 1,980 72,304 Commerce 184,982 37,998 222,980 75,743 718 76,462 Tpt/Stor/Comms 307,757 3,092 310,849 162,363 316 162,679 Finance 20,248 26 20,274 162,694 3 162,696 Construction
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    • 76 10 BY CENTS CLOSE UP 52w high/low DBXT MSKorea US$ 5972 165.8 2.1 6041/4629 JSH USD 3299 66.6 1.5 3417/2524 DBXT MSJAP US$ 5110 34.0 0.5 5110/4031 DBXT MSTaiwan US$ 2298 34.0 1.1 2328/1667 DBXT MSINDO us$ 1480 31.3 1.6 1534/911 BY PERCENTAGE CLOSE UP 52w high/low Viking W*****5 1.4
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    • 74 10 BY CENTS CLOSE DOWN 52w high/low SPDR S&P500 US$ ***** -103.3 -0.4 *****/***** DBXT Nifty50 ETF10 ***** -76.1 -0.4 *****/***** Lyxor Nasdaq US$ 1890 -47.6 -1.8 1925/1557 JMH USD 6050 -38.1 -0.5 6371/4500 Halcyo Agri 56 -18.0 -24.3 75/55 BY PERCENTAGE CLOSE DOWN 52w high/low TEE Intl W*****6 0.1
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    • 73 10 VOL CLOSE($) CHANGE Artivision Tech 4,523.3 0.020 -0.002 -9.09 Swee Hong 1,040.1 0.004 -0.001 -20.00 ChasWood Res 0.030 Samko Timber 0.089 SunMoonFood 14,968.0 0.060 -0.001 -1.64 Brook Crompton 0.475 ICP Ltd 10,377.5 0.008 Poh Tiong Choon 463.9 1.090 -0.070 -6.03 GCCP 48,934.5 0.058 -0.001 -1.70 Ley Choon 330.0
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    • BROKERS’ TAKE
      • 238 10 Sembcorp industries Buy Target price: S$3.29 Sept 27 close: S$2.55 UOB KayHian Research, Sept 23 The low contract win rate going forward will keep Sembcorp Industries’ (SCI) marine earnings low. We expect annual contract wins of S$1.5 billion over 2016-18 and are forecasting earnings of S$100 million to S$120 million
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      • 227 10  -  Compiled by Kenneth Lim DBS Group Research, Sept 27 Two new residential developments located at Outside Central Region (OCR) were opened for viewing last weekend (Forest Woods City Developments and Alps Residences MCC Land); and, we saw overwhelming interest at both showrooms. We understand from the sales agents
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    • 12 10 DATA/EVENT Sept 28 I US Unemployment Rate US MBA Mortgage Applications
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    • 450 11 Mexican peso, Canadian up after US debate CURRENCIES REUTERS London THE Mexican peso rose 2 per cent on Tuesday after record lows against the US dollar, buoyed by a view that Democratic presidential candidate Hillary Clinton fared better than rival Donald Trump in a television debate. The peso was on
      REUTERS  -  450 words
    • FOREX RATES
      • Article, Illustration
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      • 471 11 Sep 27 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.014 5.121 0.683 5.955 51.049 99.488 0.772 8.422 3.166 1.049 80.424 37.004 1.044 10.394 0.743 24.068 26.544 0.592 0.768 Canada 0.986 5.050
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      • 2 11
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      • Article, Illustration
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      • 155 11 Sep 27 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0438 1.0443 0.7679 0.7680 Canadian dollar 1.0292 1.0300 0.7575 0.7572 Euro 1.5288 1.5295 1.1247 1.1248 NZ dollar 0.9951 0.9962 0.7321 0.7326 Sterling pound 1.7627 1.7639 1.2968 1.2972
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      • 22 11 Sep 27 S$ Bid Offer 1-month 1.3589 1.3596 2-months 1.3588 1.3593 3-months 1.3586 1.3593 6-months 1.3578 1.3594 Source: OCBC
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      • Article, Illustration
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    • EQUITY BONDS WARRANTS FUTURES
      • 213 11 Most active Sep 27 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****1 11.1 0.3 4348 0.1 1550 5 STI 2800 MB ePW*****0 6 -0.1 2155 0.0 3 DBS VT eCW*****2 4.1 0.1 2069 0.1 1618 3
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      • 377 11 In local curr In S$ In US$ dy yr dy yr dy yr Sep 26 Index Change Change Change Change Change Change World Preliminary 1299.1 -0.8 1.7 -0.7 -1.0 -0.7 3.3 EAFE Preliminary 969.2 -1.2 -4.4 -0.9 -5.0 -0.9 -0.8 Europe Preliminary 1386.6 -1.4 -1.8
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      • 382 11 Sep 27 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Sep16 9460.00 9597.50 9457.50 9560.00 *****3 *****1 Oct16 9502.50 9617.50 9487.50 9585.00 *****1 *****0 NIKKEI 225 INDEX FUTURES Dec16 *****.00 *****.00 *****.00 *****.00 *****0 *****6 Mar17 *****.00 *****.00 *****.00 *****.00 3170 633 MSCI TAIWAN
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    • BANK RATES
      • 161 11 Sep 27 $S Offer Bid 0vernight 0.10 0.03 1-month 0.625 0.375 2-months 0.8125 0.6875 3-months 0.875 0.75 Overnight mode: 0.07 US$ Offer Bid 7 days 0.55 0.45 1 month 0.63 0.53 2 months 0.80 0.60 3 months 1.00 0.80 6 months 1.30 1.10 9 months 1.50 1.30 12
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      • 63 11 Sep 27 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****A 4.000 01-Sep-18 106.05 5-Year NX*****X 2.250 01-Jun-21 104.47 104.60 104.54 10-Year NX*****F 2.125 01-Jun-26 103.03 103.27 103.00 15-Year NZ*****F 2.875 01-Sep-30 109.79 110.35 109.95 20-Year NZ*****X 2.250 01-Aug-36 101.77 30-Year NA*****H
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    • AGRI METALS ENERGY
      • 251 11 Sep-26 Price Net change change Last Trade Agricultural Sep-26 CBOT Soybeans (US cents/bu) 945.25 -9.75 -1.02% 14/11/2016 CBOT Soybean Oil (US cents/lb) 33.12 -0.19 -0.57% 14/10/2016 CBOT Wheat (US cents/bu) 396.00 -8.75 -2.16% 14/12/2016 Sep-26 LIFFE Cocoa (£/tonne) 2273.00 -17.00 -0.74% 13/12/2016 LIFFE Coffee (US$/tonne) 1970.00 9.00 0.46%
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    • 1704 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Company Last Sale Vol ('000) High 136.5 107 AIMS Property 136.5cd +8.5 0 136.5 136.5 1.6 49.3 149 127 AIMSAMP Cap Reit 140 -0.5 525 141.5 140 0.9 8.1 892.2
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    • 341 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Last vol Day LOW 5 1.7 t Acesian Partners 3 unch 176 3.2 3 4.1 11.2 GrYld 0.6 0.1 t Advanced Systems 0.4 +0.2 0 0.4 0.2 10.5 46.5 29.5 t
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    • 145 12 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale vol 3268 2355 DBXT China50 US$ US3146 -1 2 3146 3146 8.7 391 190 DBXT MSBrazil US$ US371 +2 43 371 370 1387 995 DBXT MSCHINA US$ US1364
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    • 1448 17 Congratulations to our award winners! Voted by INVEST Fair visitors Walton International Group garners the Most Preferred Alternative Investment Provider Award Our methodical approach to the research, acquisition, administration and development of real estate assets across North America enables us to design and develop communities from the ground up. Walton
      1,448 words

  • REAL ESTATE
    • 1032 18  -  Sing Holdings-Wee Hur JV beats 13 other bidders for state tender of 99-year leasehold land meant for private housing By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore DEVELOPERS continue to be hungry for land. A state tender on Tuesday for a 99-year leasehold
      Source: URA  -  1,032 words
    • 718 18  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THERE is a potential pricing arbitrage between the prime central business district (CBD) office market and prime metropolitan (or suburban) office market in Australia. While the country’s suburban offices may be performing better on several
      Source: Colliers Edge  -  718 words
    • 445 18  -  By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore FIVE teams have been shortlisted for their proposals for the Jurong Lake District Request for Proposal (RFP) exercise that is expected to appoint one of them as consultant by January next
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  • Page 18 Advertisements
    • 135 18 QUEEN STREET VICTORIA STREET RAFFLES HOSPITAL BUGIS POINT 530 NORTH BRIDGE ROAD BEACH ROAD SOUTH BEACH PROJECT NICOLL HIGHWAY BUGIS POINT, 530 NORTH BRIDGE ROAD 999-Year 6-storey Commercial Building Heart of Bugis Site Area: Approx. 2,776 sq ft Total Floor Area: Approx. 16,975 sq ft Property comes with 6 strata
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    • 123 18 a® (mm 77/78/79/80 AMOY STREET 3-Storey with Attic Prime Refurbished Shophouses with Lift 999-year tenure Total Site Area: Approx. 8,182 sq ft Total GFA: Approx. 23,814 sq ft Conservation with full commercial zoning Tanjong Pagar Telok Ayer MRT Stations Foreigners eligible to purchase Immediate rental income Contact: Investment Properties Sammi
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    • 15 18 International Residential Property Services Vanessa Chan CEA REG NO. R*****31 +65 8125 7636 Vanessa.Chan@ap.jll.com JonesLangLaSallePropertyConsultantsPteLtdlCEALicenceNo.L*****26E
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    • 17 18 Beef Up Your Finances Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your IPOs other offerings
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  • BANKING & FINANCE
    • 601 19 BLOOMBERG New York CBOE Holdings’ US$3.2 billion deal to acquire Bats Global Markets is some of the strongest evidence yet of exchange-traded funds’ growing importance on Wall Street. The acquisition, announced on Monday by the owner of the Chicago Board Options Exchange,
      BLOOMBERG  -  601 words
    • 724 19 As they now risk sanctions for life for bad deals, they’re slowing deal-making and pushing decisions up the ladder REUTERS Hong kong BUSINESS development managers at Chinese state-owned firms have been put on notice: mess up on merger-and-acquisition (M&A) deals and
      REUTERS  -  724 words
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  • ENERGY & COMMODITIES
    • 894 20 Riyadh now offering a deal to boost prices, Tehran is dragging its feet. At the centre of the reversal: contrasting thresholds for enduring pain BLOOMBERG London SUDDENLY the tables have been turned on Saudi Arabia. The biggest oil exporter has
      BLOOMBERG  -  894 words
    • 859 20 BLOOMBERG Singapore CHINA cannot seem to avoid producing more steel than the world needs. After the government said in February that it would cut production capacity by as much as 13 per cent, a rebound in prices from the
      BLOOMBERG; PHOTO: REUTERS  -  859 words
    • 434 20 BLOOMBERG San Francisco SOLARCITY Corp, the rooftop solar developer controlled by Elon Musk, was accused of misappropriating trade secrets and other intellectual property in a lawsuit over the development of shingled-cell solar modules. SolarCity got a head start in developing the modules after
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  • Page 20 Advertisements
    • 216 20 Joey Choy ShareInvestor Academy Trainer Joey is one of the Award-Winning Top Tier Remisiers (Stock Brokers) and Traders in Singapore. He was awarded Top CFD specialist in 2013, Top Account Growth Achiever and Top CFD Remisier in 2014 followed by Top Trading Representative in 2015 by Phillip Securities. His Signature
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    • 17 20 y www.omy.sg SffsSfil Bli=®ISDE7 Get ynur frEE hdrdscdpe rEadings today! SCAN H Hi @lifestyle.omy.sg Chinese Language Content
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    • 17 20 NOODLE AROUND NOODLES Rediscover instant mee with Singapore’s top chefs. Now cooking at leading bookstores and www.stpressbooks.com.sg
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  • TECHNOLOGY
    • 350 21 Adobe will bring creative marketing software programs like Photoshop to Microsoft’s Azure cloud service BLOOMBERG Seattle MICROSOFT Corp is joining with Adobe Systems Inc to offer cloudbased products to their large mutual customer base, helping the software giant to better
      BLOOMBERG  -  350 words
    • 499 21  -  By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore PRIME Minister Lee Hsien Loong will launch Singapore’s new cyber security strategy at the inaugural three-day Singapore International Cyber Week (SICW), starting on Oct 10. SICW is being organised by the Cyber Security Agency (CSA)
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    • 466 21 BLOOMBERG San Francisco SO FAR, Apple Inc’s HealthKit has mostly collected fitness data from its devices. In the future, if the company gets its way, the software will interpret that information, turning it into advice for users, doctors and others. Scores
      BLOOMBERG  -  466 words
  • Page 21 Advertisements
    • 619 21 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF STANDARD CHARTERED SECURITIES (SINGAPORE) PTE. LIMITED (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****0557R NOTICE OF RESOLUTIONS At an Extraordinary General Meeting of the members of STANDARD CHARTERED SECURITIES (SINGAPORE) PTE. LIMITED deemed to have been
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    • 725 21 II Hewlett Packard Enterprise Reimagine the server as a business booster. B 1 I IV HPE ProLiant Gen9 rack and tower servers with flexible financing and on-demand capacity. 1 I 47 Today’s business demands an agile IT that delivers innovation rapidly with bottom-line efficiency. Our Commute approach redefines data center
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  • CONSUMER
    • 1430 22 Ian Rogers tasked almost a year ago to change its managers’ mindset; but sources say that takes time REUTERS Paris WHEN LVMH hired former Apple music executive Ian Rogers to craft a digital strategy, investors may have hoped for
      REUTERS; PHOTO: BLOOMBERG  -  1,430 words
    • 356 22 BLOOMBERG London ALDI’S UK business said that it will spend £300 million (S$529.6 million) making over its stores next year as it continues to ratchet up the pressure on Britain’s mainstream grocers. Outlets will be given a new format aimed to
      BLOOMBERG; PHOTO: BLOOMBERG  -  356 words
    • 445 22 FreshDirect raises US$189m; Instacart gets cash injection from partner NYTIMES New York EVEN as technology companies old and new seek to enter the online grocery delivery business, one of the sector’s original ventures continues to find new backing. FreshDirect announced on Monday that it
      NYTIMES  -  445 words
  • Page 22 Advertisements
    • 172 22 NOTICES HANSA TANKERS PTE LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) Company Registration No. *****3811H NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50, that a Final General Meeting of the members of the abovementioned Company will be held at 50 Havelock Road, #02-767, Singapore *****0, on
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    • 17 22 Discover Greener Pastures Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices
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  • Page 23 Advertisements
    • 910 23 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF MARINTEKNIK DESIGN (S) PTE LTD (IN CREDITORS’ VOLUNTARY LIQUIDATION) UEN NO. *****2300D (THE “COMPANY") To: Members/ Creditors NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap
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    • 1188 23 IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF FLORENS CONTAINER SERVICES (SINGAPORE) PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) COMPANY NO: *****5368G NOTICE OF RESOLUTIONS NOTICE IS HEREBY GIVEN THAT AT AN EXTRAORDINARY GENERAL MEETING OF THE COMPANY DEEMED TO HAVE BEEN HELD PURSUANT TO
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    • 3216 23 LUM CHANG LUM CHANG HOLDINGS LIMITED (Incorporated in the Republic of Singapore) Company Registration No. *****3949N NOTICE OF ANNUAL GENERAL MEETING AND BOOKS CLOSURE NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 34 th Annual General Meeting of the Company will be held at Orchard Parade Hotel,
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  • GOVERNMENT & ECONOMY
    • 570 24 REUTERS Kuala Lumpur MALAYSIA’S opposition expects to hammer out a new alliance by the end of the year as more members of scandal-tainted Prime Minister Najib Razak’s ruling party jump ship, a sacked deputy prime minister said on Tuesday. The
      REUTERS  -  570 words
    • 707 24 Anti-globalisation rhetoric, Brexit push trade growth to its slowest pace since the financial crisis, it warns PHOTO: REUTERS AFP Geneva THE World Trade Organization (WTO) on Tuesday downshifted its global trade forecast, warning that antiglobalisation rhetoric and “Brexit” were pushing trade growth to its
      PHOTO: REUTERS; AFP  -  707 words
    • 566 24 REUTERS Beijing PROFITS in China’s industrial sector rose at the fastest pace in three years as the world’s second biggest economy showed more signs of stabilising, though some private forecasters said that the improvement may be more fleeting than real.
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    • 637 24 AFP New Delhi POLLUTED air is a “public health emergency”, the World Health Organization said on Tuesday, adding nine out of 10 people globally breathe bad air that is blamed for more than six million deaths a year. And the WHO warned that nearly
      AFP; PHOTO: AFP  -  637 words
    • 424 25 REUTERS Manila A VISIT to China by a Philippine special envoy tasked with rebuilding tattered ties with Beijing has been cancelled, his aides said on Tuesday, the latest turn in a foreign policy increasingly unpredictable under the new president. Fidel Ramos, president
      REUTERS  -  424 words
    • 430 25 REUTERS Bangkok THAILAND is investigating four suspected cases of Zika-related microcephaly in three babies and a 36-week old unborn baby, the public health minister said on Tuesday, in what could be the first cases of Zika-linked microcephaly in South-east Asia. Several countries
      REUTERS  -  430 words
    • 739 25 Justice Dept seeking forfeiture of all funds held in 25 bank accounts associated with DHID and its front companies REUTERS Washington THE United States said on Monday that it had sanctioned a Chinese industrial machinery and equipment wholesaler, a new
      REUTERS  -  739 words
    • 611 25 AFP Seoul THE owner of Poom Seoul, an upmarket restaurant in South Korea’s capital, is seriously considering closing her business, as customers dwindle ahead of new anti-graft laws designed to curb paid-for favours. The law, which comes into effect on Wednesday, will make
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  • TRANSPORT
    • 742 26  -  in light of the recent Danish court case, IBIA is working to weed out fraudulent practices and so improve operating conditions for ethically run bunkering businesses STRAIT TALK BY DAVID HUGHES According to the event organisers, some 1,500 participants from 500 companies and
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    • 251 26  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore PASSENGER traffic at Changi Airport dipped marginally in August, down 0.6 per cent vis-a-vis the corresponding month in 2015 where Singapore celebrated its Golden Jubilee. The last time passenger traffic dropped was in January last year, when
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    • 304 26  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore JETSTAR Asia is seeking to grow its freight business as e-commerce continues to pick up pace in the region. The budget carrier has appointed ECS Group (Asia Pacific) as its general sales agency for its
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    • 596 26 BLOOMBERG Copenhagen AP Moeller-Maersk A/S’s container line, which this month ditched a strategy of building new vessels and will instead try to grow through acquisitions, is targeting South Korea’s two biggest shipping firms, according to Jefferies International Ltd. Hanjin Shipping Co
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    • 947 26 BLOOMBERG Tokyo TAKATA Corp and some of the world’s biggest carmakers face an extensive and expensive to-do list as they try to resolve the worst safety crisis in the car industry’s history. Executives for the Tokyo-based maker
      BLOOMBERG  -  947 words

  • Page 27 Advertisements
    • 1975 27 S-*- THE BUSINESS TIMES SHIPPING TIMES C a i l a n ~E n n o B r i s b a n e 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 27 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 122 PRW006 29/09/2016 30/09/2016 Pelindo/Perawang DAILY Marco Polo 108 BST224 29/09/2016 30/09/2016 Buatan/Buatan DAILY Marco Polo
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  • OPINION
    • 563 28 EDITORIAL OUTGOING US President Barack Obama hopes that one of his top foreign policy legacies would be his policy of re-orienting or “pivoting” America’s geo-strategic and geo-economic direction from Europe and the Middle East to East and South
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    • 1382 28  -  It’s doubtful that the debate makes or breaks a presidential candidate. History provides examples By Leon Hadar Washington LET’S start by challenging a myth about American presidential campaigns: No one really “wins” a presidential debate, if by “winning” we mean that the candidate’s performance
      PHOTO: AFP  -  1,382 words
    • 677 28  -  THE BOTTOM LINE By David Marsh T The writer is managing director of the Official Monetary and Financial Institutions Forum OMFIF THE need for a “grand bargain” in Europe to relax fiscal policy and tighten the European Central Bank’s (ECB) monetary stance is
      OMFIF  -  677 words
    • 880 29  -  COMMENTARY By Viral V Acharya Sascha Steffen Diane Pierret T The writers are, respectively, professor of economics at NYU’s Stern School of Business; assistant professor at the Institute of Banking and Finance at HEC, University of Lausanne; and professor of finance
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    • 560 29  -  By Mark Crosby Melbourne FOR Britain and the European Union, Brexit should be an opportunity to reset, not a time for retribution. The EU’s overly ambitious but underachieving drive for economic centralisation has distracted from the desperate need for strong reforms in Europe’s major economies.
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    • 1837 29  -  The Wells Fargo scam fiasco has produced no senior-level resignations at the bank to date nor any return of personal windfalls from the fraud. BY AVI LIRAN AND SIMON DOLAN BY AVI LIRAN AND SIMON DOLAN T Avi Liran is a
      PHOTO: BLOOMBERG  -  1,837 words
  • Page 28 Miscellaneous
    • 134 28 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 chief executive officer singapore press holdings ALAN CHAN deputy chief executive officer singapore press holdings PATRICK DANIEL editor-in-chief (english/malay/tamil media group)
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  • LIFE & CULTURE
    • 616 30  -  His passion for watches dates back to his youth when his father gave him his first timepiece By Natalie Koh natksl@sph.com.sg @NatalieKohBT Singapore JAZZ musician Jeremy Monteiro is celebrating his 40th anniversary in show business with a star-studded concert this Friday, but the jazz
      616 words
    • 571 30 AFP London A GIANT backside, a mountain of money and chastity belts suspended from a ceiling: the Turner Prize once again looks set to divide the contemporary art world after unveiling the finalists in London on Monday. The four shortlisted artists
      AFP; PHOTOS : AFP, REUTERS  -  571 words
  • Page 30 Advertisements
  • Page 30 Miscellaneous
    • 329 30 CRYPTIC CROSSWORD Across 1 Anticipates a guru’s breaking down (6) 4 ‘The Mount’ a suitable address for a cardinal (8) 9 It’s spent on railway food (6) 10 Rations for the fleet? (4,4) 12 What it’s like in the Kalahari Desert (4) 13 Sort of trap for a bird (5)
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  • Page 31 Advertisements
    • 153 31 Subscribe with SCI at Philips Fair and receive a A o LJ Q VOUCHER PHILIPS FAIR Sg% EXCLUSIVELY FOR NTUC MEMBERS x W 0F J 1-2 OCT 2016 11AM-7PM D’MARQUEE, DOWNTOWN EAST NTUC members will enjoy additional 20% OFF total purchases. THE STRAITS TIMES .a =3M BeritaHarian .j J THE
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  • EXECUTIVE MONEY
    • 906 31 inflow of Chinese money especially in the small-caps market could displace Western investors within 5 years REUTERS Shanghai CHASING higher returns in a slowing economy, Chinese investors could soon dominate Hong Kong’s stock market, likely redefining how
      REUTERS; PHOTO: BLOOMBERG  -  906 words
    • 649 31 BLOOMBERG Shanghai CHINA has stanched a string of defaults and further speculation that authorities will continue to stave off failures is leaving investors the most bullish on local junk bonds in five years, despite record maturities. Only two notes
      BLOOMBERG; PHOTO: BLOOMBERG  -  649 words
    • 524 31 BLOOMBERG Singapore THERE is a dollar squeeze in Asia, but it’s nothing like the crunch of 2013. Unlike three years ago, the banking system most exposed to tight hard-currency funding conditions isn’t India. It’s Malaysia. And that’s probably one reason investors are nervous
      BLOOMBERG  -  524 words
    • 1432 32 Shady dealings by Hong Kong’s ‘Lo Tsin’ firms get caught in the crosshairs of China regulators BLOOMBERG Hong Kong THE notorious “Lo Tsin” of Hong Kong’s equity market are suddenly in the spotlight. Slang for “tricksters” in Cantonese, the phrase has long been
      BLOOMBERG; PHOTO: REUTERS  -  1,432 words
    • 594 32 France’s Natixis SA pioneers novel but controversial move BLOOMBERG London THE bullish stock recommendation came with a warning: the company paid us to write this. With brokers increasingly unable to subsidise research with indirect payments, France’s Natixis SA is pioneering a novel approach: charge
      BLOOMBERG  -  594 words
    • 972 32 BLOOMBERG New York RICHARD PERRY, one of the biggest names in hedge funds, is calling it quits after 28 years. Mr Perry, 61, is winding down his New York-based flagship fund as the industry confronts one of the most tumultuous
      BLOOMBERG; PHOTO: BLOOMBERG  -  972 words