The Business Times, 1 December 2016

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Microfilm: NL34122
Total Pages: 24
1 24 The Business Times
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  • Title Section
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    23 1 THE BUSINESS TIMES S$1.20 A SINGAPORE PRESS HOLDINGS PUBLICATION businesstimes.com.sg fb.com/thebusinesstimes @BusinessTimes CO REGN NO *****2868E MCI (P) 037/12/2016 Thursday, December 1, 2016
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  • Article
    Lock icon MARKETS
    27 1 Wednesday Change STI 2,904.02 +24.88 KL COMP 1,619.12 -7.81 NIKKEI 225 18,308.48 +1.44 HANG SENG 22,789.77 +52.70 SHENZHEN B 1,162.76 -0.80 DOW (10.45am EST) 19,187.05 +65.45
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  • Article, Illustration
    Lock icon DAILY DIGEST
    209 1 Prime Minister Lee Hsien Loong says “very good progress” has been made on the high-speed rail linking Singapore and Kuala Lumpur. TOP STORIES 4 Singapore millennials in the top 20 per cent income bracket have the least confidence in achieving their wealth aspirations among peers in 10 economies.
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  • Article, Illustration
    Lock icon US dollar’s spike in Trump trade leaves market players divided
    751 1  -  Some call for reversal, others think the unit can continue its climb, given the relief it brings to emerging-market currencies By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore THE US dollar’s dramatic rise since the US presidential election with many believing its
    Source: US Dollar Index, compiled from Bloomberg; Source: Bloomberg  -  751 words
  • Article, Illustration
    Lock icon Jungle’s new US$100m fund reflects still-vibrant VC sector
    613 1  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore JUNGLE Ventures, a prominent Singa-pore-based, early-stage venture capital (VC) firm, has raised a second VC fund valued at US$100 million. Observers pointed to this as proof of strong VC funding growth in South-east Asia despite a
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      93 1 *****1 3000 1 1 GOOD AND BAD NEWS 10 likely consequences of Trump’s presidency OPINION 22 THE BUSINESS TIMES SINGAPORE BOURSE Market cap up 1.6% at year’s high of s$874.8b COMPANIES MARKETS 6 HOCK LOCK SIEW A plus if Golden Shoe project includes serviced residences COMPANIES MARKETS 7 Jaeger-leCoultre Boutiques
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      12 1 2017 seen as Asian markets’ year of the dollar crunch, Page 14
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  • TOP STORIES
    • Article, Illustration
      Lock icon Tharman appointed next G-30 chairman
      393 2  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore SINGAPORE’S Deputy Prime Minister and Coordinating Minister for Economic and Social Policies Tharman Shanmugaratnam has been appointed the next chairman of the Group of 30 (G-30). Mr Tharman succeeds Jean-Claude Trichet, former president of the European Central Bank, who
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    • Article
      Lock icon Labour force participation shows uptrend despite 2016 dip
      631 2  -  While resident LFPR falls slightly from 68.3% in 2015 to 68% this year, overall figures show uptrend in last 5 years By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore DESPITE a small dip this year, the share of Singaporeans and Permanent Residents working
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    • Article, Illustration
      Lock icon Trump to leave business totally for presidency; announces 2 more appointments
      1148 2 REUTERS AFP BLOOMBERG Washington PRESIDENT-ELECT Donald Trump said on Wednesday he will be leaving his far-flung business “in total” to focus on running the country and will outline the plan in a Dec 15 news conference with his family.
      REUTERS; AFP; BLOOMBERG; PHOTOS: AFP  -  1,148 words
    • Article, Illustration
      Lock icon Bank Negara unable to stem ringgit’s plunge against other currencies
      649 2  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur BANK Negara Malaysia’s (BNM) intervention in the currency market may have partially checked the ringgit’s fall against the US dollar, but it has not halted the beleaguered unit’s headlong plunge against other major and
      PHOTO: REUTERS  -  649 words
    • Article
      Lock icon Airlines’ non-ticket revenue for 2016 seen rising 14%
      517 2  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore GLOBAL airlines’ ancillary revenues are expected to climb to US$67.4 billion this year, up nearly 14 per cent from last year, with the bulk of it coming from a la carte options such as premium seats.
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    • Article
      Lock icon Oil climbs above US$50 as Opec agrees to first output cut since 2008
      559 4 REUTERS BLOOMBERG Vienna OPEC has agreed on its first limit on oil output since 2008, sources in the producer group told Reuters, with Saudi Arabia accepting “a big hit” on its production and agreeing to arch-rival Iran
      REUTERS; BLOOMBERG  -  559 words
    • Article, Illustration
      Lock icon ‘Sound agreement’ needed for S’pore-KL high-speed rail: PM
      699 4  -  On reports from Malaysia on a third bridge, PM Lee says there’s no such plan for the moment By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore BOTH Singapore and Malaysia have made “very good progress” on a bilateral agreement for the planned high-speed rail
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    • Article, Illustration
      Lock icon Singapore and Myanmar to start talks on investment treaty
      744 4  -  Aung San Suu Kyi assures investors that Myanmar will be business-friendly By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore SINGAPORE and Myanmar will commence discussions on a bilateral investment treaty, as well as upgrade the existing avoidance-of-double-taxa-tion agreement. Prime Minister Lee Hsien Loong
      PHOTO: AFP  -  744 words
    • Article
      Lock icon Not all gold mining stocks on SGX glitter
      710 4  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore LIKE the three bowls of porridge Goldilocks found upon trespassing, the trio of gold miners listed on the Singapore Exchange (SGX) have turned in quite a mixed showing in the year to date, data from a
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    • Article, Illustration
      Lock icon S’pore’s top-earning millennials not confident of financial success
      519 5  -  They and others in more mature economies prefer stability of permanent job, experiences over possessions: UBS By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore MILLENNIALS who are in the top 20 per cent income bracket in Singapore have the least confidence in achieving their
      Source: UBS  -  519 words
    • Article, Illustration
      Lock icon Total gross tonnage of S’pore-flagged ships set to grow this year
      763 5  -  By Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore THE total gross tonnage (GT) of ships flagged under Singapore’s registry is on course to expand this year over 2015, although it will remain in the single-digit growth range for the second
      Source: Bloomberg, company filings, analyst reports  -  763 words
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      1352 3 ADVERTORIAL PREPARING FOR THE RISE OF THE MACHINES Organisations have to start thinking about how they can position themselves for the age of machine learning. When AlphaGo defeated Lee Sedol the world's top-ranked professional player in the ancient game of Go earlier this year, the world sat up and took
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      207 4 LAST 2 DAYS TO VISIT! OSEA2016 The 21st international Oil Gas industry Exhibition Conference SINCE 1 976 1 -2 December 2016 Thursday-Friday 10.30am 6.00pm Marina Bay Sands, Singapore Future-ready your business at OSEA2016 Asia's most established oil gas industry event. Check out solutions that can enhance production processes and create
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      133 5 m v. -.V 9 m. ■v.*s; ■Sax! 5® *S 5S3S ********** m tw •VHZiSKt HN nable V itf •S>, Vt*tu SRJhjJJS m w ne t nfl •V Stylish living has a new address. Ascott Orchard Singapore opens its doors today, a 220-unit serviced residence in the heart of Orchard Road.
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  • COMPANIES & MARKETS
    • Article, Illustration
      Lock icon Market cap up 1.6% at year’s high of S$874.8b
      1229 6  -  November’s month-on-month gain in Singapore comes amid record highs on Wall Street By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore RECORD highs on Wall Street helped lift investor sentiment in Singapore in November, with the total value of the market rising 1.6 per
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    • Article, Illustration
      Lock icon Alibaba-backed Ascend Money eyes Singapore for remittance business
      809 6  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore AN Alibaba-backed payments company spun off from Thai conglomerate CP Group may launch an international remittance business in Singapore as early as next year, its top executive said on Wednesday. This is part of Ascend Money’s
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    • Article, Illustration
      Lock icon A plus if Golden Shoe project includes serviced residences
      804 7  -  HOCK LOCK SIEW BY KALPANA RASHIWALA kalpana@sph.com.sg @KalpanaBT SIX weeks ago, CapitaLand Commercial Trust (CCT) made the highly anticipated announcement that it is seeking approval from the government to redevelop its Golden Shoe Car Park in Raffles Place. The real estate
      FILE PHOTO  -  804 words
    • Article
      Lock icon Trump’s win, tweets boon for financial markets: SGX executive
      288 7 BLOOMBERG Singapore DONALD Trump’s election win and the US president-elect’s penchant for off-the-cuff social media posts have been a boon for financial markets, said Chew Sutat, head of equities and fixed income at Singapore Exchange Ltd. “With Trump, what you see
      BLOOMBERG  -  288 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 8 STI Catalist Straits Times Index NOV 30,2016 2,904.02 +24.88 (+0.86%) Current streak 7 days Day high 2,915.42 Day low 2,894.99 52-week high 2,960.78 (Apr 21, 2016) 52-week low 2,532.70 (Jan 21, 2016) FTSE ST Catalist index NOV 30,2016 445.65 -1.88 (-0.42%) Current streak 3 days Day high 447.64 Day low
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    • Article
      Lock icon GAINERS
      73 8 BY CENTS CLOSE UP 52w high/low DBXT MSKorea US$ 5545 89.8 1.1 6041/4629 JMH USD 5420 61.3 0.8 6371/4500 Jardine C&C 4015 60.0 1.5 4520/3160 DBXT E50 US$ 4333 58.4 1.0 4797/3918 DBXT Vietnam US$ 2262 48.5 1.5 2533/2017 BY PERCENTAGE CLOSE UP 52w high/low MDR 0.4 33.3 0.1
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    • Article
      Lock icon LOSERS
      76 8 BY CENTS CLOSE DOWN 52w high/low Lyxor Indonesia US$ 8135 -245.1 -2.1 9341/6692 SPDR S&P500 US$ ***** -111.2 -0.4 *****/***** Great Eastern 2010 -16.0 -0.8 2332/1940 Sembcorp Marine 139.5 -8.5 -5.7 207/121.5 Kencana Agri 41 -8.0 -16.3 70/36 BY PERCENTAGE CLOSE DOWN 52w high/low Asia Fashion 5.4 -40.7 -3.7
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    • Article
      Lock icon UNUSUAL ACTIVITY
      84 8 VOL CLOSE($) CHANGE China Env Res 2.0 0.022 -0.008 -26.67 ChasWood Res 10.0 0.019 +0.004 +26.67 Epicentre 152.0 0.120 +0.017 +16.51 Nico Steel 22,957.7 0.015 -0.005 -25.00 Hiap Tong 915.6 0.098 +0.013 +15.29 Pan Asian 500.0 0.028 -0.002 -6.67 Pavillon 75.0 0.047 -0.007 -12.96 Matex Intl 126.0 0.029
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    • Article, Illustration
      Lock icon STI tops 2,900 mark in mixed session
      612 8  -  Index is now 22 points in the black for 2016, with major push coming from banks’ outperformance STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT AN overnight rise on Wall Street and probable month-ending windowdressing of certain key blue chips or “portfolio rebalancing”, if you
      Source: Bloomberg  -  612 words
    • Article
      Lock icon STI STOCKS
      305 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 235 +4 238/233 257 209 6.5 6587.6 CapitaCom Trust 153 +2.5 153/151 164 127 5.6 4534.1 CapitaLand 308 +5 310/305 340 280 12.3 2.9 *****.7 CapitaMall Trust 195 +4 195.5/191.5 225 185
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    • Article
      Lock icon MOST ACTIVE
      33 8 VOLUME Noble 1,230,282,900 KrisEnergy 87,172,600 Sembcorp Marine 85,426,400 SATS 78,542,700 Golden Agri-Res 44,831,300 Market volume 2,886,933,000 VALUE SATS 377,349,266 DBS Grp 239,451,305 Noble 199,004,082 UOB 161,903,816 Singtel 143,751,830 Market value 2,565,954,000
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 8 Nov 30 VALUE CLOSE BT OB/OS -154.00 -9.00 BT CADI -*****.00 +7.00 BT 10-day MA -*****.00 -16.00 FTSE ST Mid Cap 684.52 +2.10 FTSE ST Small Cap 382.92 +1.10 FTSE ST All Share 710.49 +5.22 FTSE ST China Top 159.55 +1.07 FTSE ST China 199.79 +1.73 FTSE
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    • Article
      Lock icon SGX ETFs
      108 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS INDIA US$ US671 +9 929 672/661 772/441 669/671 83.9 STI ETF 295 +2 713 295/293 300/254 294/295 Nikko AM STI ETF 302 +4 241 302/299 303/259 300/302 7.3 DBXT MS SING US$ US111.8 +1
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    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      36 8 STI FTSE ST All-Share FTSE ST All-Share index NOV 30, 2016 710.49 +5.22 (+0.74%) Current streak 7 days Day high 712.08 Day low 708.64 52-week high 722.88 (Apr 21, 2016) 52-week low 625.37 (Jan 21, 2016)
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      Lock icon STI / MSCI EAFE
      33 8 STI MSCI EAFE MSCI EAFE index NOV 29,2016 1,631.61 +3.38 (+0.21%) Current streak 1 day Day high 1,636.28 Day low 1,623.05 52-week high 1,753.86 (Dec 1, 2015) 52-week low 1,492.43 (Feb 12, 2016)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 7 7 3 0 1 0 7 8 3 Manufacturing 41 41 24 7 10 12 48 51 36 Commerce 15 21 8 5 3 5 20 24 13 Tpt/Stor/Comms 12 8 6
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      121 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 28,747 119 28,866 101,719 19 101,738 Manufacturing 216,945 53,082 270,027 257,391 3,991 261,382 Commerce 1,285,482 13,614 1,299,096 367,248 283 367,531 Tpt/Stor/Comms 156,757 1,436 158,193 304,331 131 304,462 Finance 43,628 118 43,746 558,449 17 558,466 Construction
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    • BROKERS’ TAKE
      • Article
        Lock icon Oil-and-Gas | Neutral
        248 8 Oil-and-Gas Neutral OCBC Investment Research, Nov 30 2016 saw a gathering of momentum in debt restructuring and company defaults in the sector. Currently, many companies are now trading at about 0.5 times book or lower, with a few exceptions. At current levels, however, we believe that most of the negatives
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      • Article
        Lock icon Ezion Holdings | Buy
        223 8  - Ezion Holdings Buy Compiled by Jamie Lee Target price: s$0.42 Nov 30 close: S$0.34 Maybank Kim Eng Research, Nov 30 investors appeared to be looking for reasons to build exposure to the oil-service sector. Unsurprisingly, their concerns revolved around: 1) whether the worst is over; 2) asset-write-down potential; 3) balance-sheet
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    • Article
      Lock icon CALENDAR
      12 8 DATA I Dec 1 US Initial Jobless Claims China Manufacturing PMI
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    • Article
      Lock icon US$ records best month against yen in 7 years
      413 9 CURRENCIES REUTERS London THE dollar edged up on Wednesday as US Treasury yields resumed their rise after three down days, with the greenback on track for its strongest performance against the yen in seven years. The dollar hit its highest level
      REUTERS  -  413 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 9 Nov 30 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.005 5.147 0.704 5.798 51.194 101.380 0.843 8.751 3.338 1.045 78.413 37.173 1.066 10.433 0.759 23.823 26.645 0.599 0.748 Canada 0.995 5.121
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 9 NOV 30 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0652 1.0659 0.7474 0.7476 Canadian dollar 1.0596 1.0604 0.7437 0.7435 Euro 1.5136 1.5145 1.0620 1.0622 NZ dollar 1.0193 1.0200 0.7152 0.7154 Sterling pound 1.7777 1.7790 1.2473 1.2477
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      • Article
        Lock icon US$/S$ FORWARD RATES
        22 9 Nov 30 S$ Bid Offer 1-month 1.4251 1.4260 2-months 1.4249 1.4261 3-months 1.4247 1.4260 6-months 1.4245 1.4261 Source: OCBC
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      • Article, Illustration
        Lock icon HANG SENG
        2 9
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      • Article, Illustration
        Lock icon NIKKEI
        1 9
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        Lock icon SHANGHAI COMPOSITE
        2 9
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      • Article, Illustration
        Lock icon DOW JONES
        2 9
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon SGX DERIVATIVES TRADING
        371 9 Nov 30 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Dec16 *****.00 *****.00 *****.00 *****.00 *****8 *****1 Jan17 *****.00 *****.00 *****.00 *****.00 3227 149 NIKKEI 225 INDEX FUTURES Dec16 *****.00 *****.00 *****.00 *****.00 ***** *****3 Mar17 *****.00 *****.00 *****.00 *****.00 390 ***** MSCI TAIWAN
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      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        211 9 Most active Nov 30 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Equation Summit LimitedW*****2 0.4 -0.1 8802 1 1 27 2.75 9 UOB MB eCW*****5 16.8 1.3 3584 0.1 1950 7 OCBC BK MB ECW*****6 7.8 0.6 3236
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        377 9 In local curr In S$ In US$ dy yr dy yr dy yr Nov 29 Index Change Change Change Change Change Change World Preliminary 1330.8 0.2 4.2 0.4 4.0 0.2 3.3 EAFE Preliminary 990.1 0.1 -2.3 0.3 -4.3 0.2 -4.9 Europe Preliminary 1383.6 0.2 -2.1
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 9 Nov 30 $S Offer Bid 0vernight 0.03 Par 1-month 0.75 0.625 2-months 0.875 0.75 3-months 1.0 0.875 Overnight mode: 0.09 US$ Offer Bid 7 days 0.58 0.48 1 month 0.75 0.65 2 months 0.85 0.65 3 months 1.00 0.80 6 months 1.40 1.20 9 months 1.55 1.35 12
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      • Article
        Lock icon GOVERNMENT SECURITIES
        67 9 Nov 30 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****A 4.000 01-Sep-18 105.02 5-Year N*****0Z 1.250 01-Oct-21 97.94 98.08 97.97 10-Year NX*****F 2.125 01-Jun-26 98.53 98.68 98.50 15-Year NZ*****F 2.875 01-Sep-30 102.29 102.30 102.20 20-Year NZ*****X 2.250 01-Aug-36 92.46 92.65 92.50
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 9 Nov-29 Price Net change change Last Trade Agricultural Nov-29 CBOT Soybeans (US cents/bu) 1042.50 -13.50 -1.28% 13/01/2017 CBOT Soybean Oil (US cents/lb) 36.36 -0.35 -0.95% 14/12/2016 CBOT Wheat (US cents/bu) 384.00 -5.50 -1.41% 14/12/2016 Nov-29 LIFFE Cocoa (£/tonne) 1993.00 -40.00 -1.97% 13/12/2016 LIFFE Coffee (US$/tonne) 2050.00 -50.00 -2.38%
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    • Article, Illustration
      Lock icon FLT to acquire new industrial property in Sydney for A$58.2m
      652 10  -  Portfolio will grow to 54 properties with total gross lettable area of 1.2 million sq m By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore FRASERS Logistics Industrial Trust (FLT) is acquiring a new industrial facility in Sydney for A$58.2 million (S$61.78 million)
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    • Article
      Lock icon MBK’s bid for sponsor won’t hit us: Accordia Golf Trust
      464 10  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore SINGAPORE-LISTED Accordia Golf Trust said on Wednesday that an attempt by a private equity firm to buy out its Tokyo-listed sponsor Accordia Golf Co is not expected to affect the trust’s business much, as
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    • CORPORATE DIGEST
      • Article
        Lock icon Emas Offshore
        114 10 OFFSHORE marine construction contractor Emas Offshore said on Wednesday that it, together with its parent Ezra Holdings, has agreed with buyer PetroFirst Infrastructure 2 to extend the long stop date for the purchase of PV Keez to Dec 31, 2016, from Nov 30, 2016. Both sides had in
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      • Article
        Lock icon Pan-United Corporation
        67 10 SHAREHOLDERS of Pan-United Corporation Ltd approved the group’s proposal to divest its tug and barge business under two subsidiaries for S$29.92 million in cash at an extraordinary general meeting held on Wednesday. The divestment of Pan-United Shipping Pte Ltd (PUS) and PU vision Pte Ltd (PUV) to controlling
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      • Article
        Lock icon Sinopipe Holdings
        49 10 SINOPIPE Holdings Limited disclosed on Wednesday that its management has been negotiating with an interested investor in China to restructure its operations. The regulatory filing with the Singapore Exchange did not provide further details. Trading in the shares of Sinopipe has been suspended since April 2, 2012.
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    • Article
      Lock icon SGX MAINBOARD
      1830 11 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Company Last Sale Vol ('000) High Day Low 149 124.5 AIMSAMP Cap Reit 129.5 +4.5 6454 130 125 0.9 8.8 825.3 C'vr 172.5 101 ARA Asset Mgmt 168.5 unch 3981
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    • Article
      Lock icon SGX CATALIST
      297 11 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Last vol Day LOW Div GrYld Net MCap 46.5 29.5 t Advancer Global 37 +1 114 37 36.5 14.7 64.1 LOW Company Sale 19.9 8.3 t Anchor Resources 9.1 -0.1 1269
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    • Article
      Lock icon SGX ETF
      129 11 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale vol 3268 2355 DBXT China50 US$ US3123 -1 11 3143 3120 8.6 116.2 97.5 DBXT MS SING US$ US111.8 +1 90 112 111.8 5.6 422 190 DBXT MSBrazil
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      Lock icon Page 6 Advertisements Column 1
      265 6 FRS109: The New Standard on Financial Instruments A Practical Approach in Implementing FRS 109 FRS 109 is the new replacement for FRS 39 Financial Instruments: Recognition and Measurement, and it will be effective 1 January 2018. This revised standard brings about substantial changes to the classification and measurement of financial
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      84 7 CCT sees Singapore office rents picking up only from end-2017, Page 12 No-Fuss Chilli Crab Lunch New 5-Course Executive Set Menu JWMI3® SEAFOOD Featuring our AWARD-WINNING CHILLI CRAB Deshelled for your convenience Menu changes weekly Choice of 2 set menus Available at: Riverside Point 6532-3435 The Riverwalk 6534-3435 Dempsey Hill
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      157 10 C U S T O M C O N T E N T S O L U T I O N S SPHmagazines SAVOUR magazine has clinched a Silver at the Pearl Awards 2016! An indispensable tool for home chefs and connoisseurs alike, Savour magazine is chockfull of useful information
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      71 11 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
    • Article
      Lock icon CCT sees Singapore office rents picking up only from end-2017
      393 12 Rents this year are down 15% following the addition of 2.3 million sq ft of space BLOOMBERG Singapore SINGAPORE’S office rents will remain “a little soft” in 2017 and may pick up only at the end of the year when
      BLOOMBERG  -  393 words
    • Article
      Lock icon NZ central bank warns of new rules to rein in home loans
      438 12 REUTERS Wellington NEW ZEALAND’S central bank on Wednesday warned of significant risks from sky-rocketing house prices, saying yet more restrictions on mortgage lending might be needed if property prices continue to accelerate. The Reserve Bank of New Zealand’s
      REUTERS  -  438 words
    • Article, Illustration
      Lock icon Evergrande gunning to be No 2 shareholder in Vanke
      413 12 REUTERS Hong Kong CHINA Evergrande Group said it has bought more shares in rival property developer China Vanke the latest purchase in a rapid build-up this month that could soon see it become the company’s No 2 shareholder. Vanke is at
      REUTERS  -  413 words
    • Article, Illustration
      Lock icon More foreigners snapping up property in Vancouver as tax shock subsides
      456 12 REUTERS Vancouver FOREIGN purchases of Van-couver-area properties nudged off lows in October as international investors, initially unnerved by a tax on foreign home ownership aimed at cooling red-hot prices, returned to Canada’s most expensive property market. Foreign buying may
      REUTERS; PHOTO: BLOOMBERG  -  456 words
    • Article
      Lock icon Japan’s Mitsui Fudosan is world’s first developer to sell 0.001% bonds
      311 12 BLOOMBERG Tokyo JAPAN’S Mitsui Fudosan Co sold bonds on Wednesday that pay investors a coupon of 0.001 per cent, marking the first time for a real estate developer to sell non-convertible fixed-rate debt that close to zero. The nation’s
      BLOOMBERG  -  311 words
    • Article, Illustration
      Lock icon Spanish millennials ditch idea of home ownership
      731 13 Having seen the property market tank during the financial crisis, they regard renting as a more attractive option BLOOMBERG London SPAIN’S love affair with home ownership is starting to fade. Having witnessed the meltdown in the country’s property market at the height of
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      Lock icon Househunt
      1622 13 Property transactions for selected districts with contract dates between Oct 19 and Oct 25,2016 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 8 LANDED Joo Ave 2-Ter 25/10/2016 FH 1703 1225 719 NON-LANDED Kentish Court Apt 24/10/2016 99 1141 1065
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      22 12 DECEMBER ISSUE OUT NOW! Just for you! A Christmas guide with the best gifting ideas! Connect with Shape www.shape.com.sg Shape Singapore shape_sg
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      40 12 “Few read Malaysian political tea leaves better than Kalimullah does, or with as much humility and good humour.” ASSIF SHAMEEN Former Asiaweek regional correspondent, now consulting editor of The Edge Singapore Now on sale at all major bookstores and www.stpressbooks.com.sg
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      82 12 KIDS LARGES! \S1K’ s ~J28sK I A Ml BOOK YOUR SPACE NOW! Reach out to parents ages 25 45 years old with children ages 3-12 years old at SmartKids Asia. Promote your brand, products and services at Asia's Largest Educational Kids' Fair, established since 2012! CONTACT US NOW! Mr Nicholas
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      250 12 RARE CONDO STRATA SHOPS FOR SALE BY EXPRESSION OF INTEREST Within a brand new condominium Urban Vista Exclusive 3 retail shops servicing a total of 582 residential units Just next to Tanah Merah MRT station Wide glass frontage to main road Sizes available: 377, 420, 797 sq ft Ideal for
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  • BANKING & FINANCE
    • Article
      Lock icon Oct bank lending in S’pore stirs but soft demand still expected
      452 14  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore BANK lending in Singapore in October reversed from 12 months of contraction, but this comes as banks expect soft demand to continue, given the rising uncertainties in the external environment. Loans through the
      452 words
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      Lock icon 2017 seen as Asian markets’ year of the dollar crunch
      824 14 Lending spreads, domestic demand and resolve of central banks to be tested BLOOMBERG London FOR Asian markets, 2017 could be the year of the dollar crunch. Foreign portfolio flows have taken a sharp downturn since Donald Trump’s election victory, with
      BLOOMBERG; PHOTO: REUTERS  -  824 words
    • Article
      Lock icon RBS is biggest failure in stress test by Bank of England
      491 14 AFP London THE Royal Bank of Scotland is the worst prepared among Britain’s lenders for another financial crisis, the Bank of England said on Wednesday, forcing the state-rescued lender to raise more cash. The BOE, revealing its latest stress
      AFP  -  491 words
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      1680 15 NOTICES Si TIONG SENG HOLDINGS LIMITED (Incorporated in Singapore on 15 April 2008) (Company Registration No. *****7295Z) NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (“EGM”) of Tiong Seng Holdings Limited (the “Company”) be held at 510 Thomson Road, #12-00 SLF Building, Singapore *****5 on 16 December 2016 at
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      2718 15 AusGroup Limited (Incorporated In The Republic Of Singapore) Company Registration No. *****3014R Notice of Annual General Meeting NOTICE IS HEREBY GIVEN that the Annual General Meeting of AusGroup Limited (the “Company”) will be held at Jurong Country Club, 9 Science Centre Road, Singapore on Thursday, 15 December 2016 at 10am
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  • TECHNOLOGY
    • Article
      Lock icon After split from US, Internet gatekeeper is ‘the grassroots’
      451 16 AFP Washington THE Internet address system gatekeeper, independent after a split from the US government, is now in a phase where “the grassroots are in charge”, its top executive said on Tuesday. Goran Marby, president and chief executive of the Internet
      AFP  -  451 words
    • Article
      Lock icon European tech investments seen hitting US$13.6 billion this year
      565 16 This would be up from US$12.6 billion in 2015 and almost 5 times the levels 5 years back: venture capital firm REUTERS Frankfurt EUROPE’S tech sector is on track for a record level of investments this year but poor access to
      REUTERS  -  565 words
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      Lock icon Facebook’s plans for WhatsApp data raise EU privacy concerns
      769 16 BLOOMBERG Luxembourg FACEBOOK Inc’s stalled plans to leverage WhatsApp’s user data are about to hit another regulatory bump in Europe. Isabelle Falque-Pierrotin, who heads a panel of Europe’s privacy watchdogs, said Facebook will probably face “additional action” over using WhatsApp’s data
      BLOOMBERG; PHOTO: AFP  -  769 words
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      Lock icon Racy photos prompt Alipay apology as social-media push backfires
      327 16 BLOOMBERG Hong Kong ANT Financial’s attempt to add a so-cial-network function to China’s biggest payments platform has backfired. Within hours of launching its “Circles” function, the financial affiliate of Alibaba Group Holding Ltd was embarrassed when pictures of scantily clad young
      BLOOMBERG  -  327 words
    • Article
      Lock icon Beware of downloading fake shopping apps
      589 16 WP Washington FAKE news isn’t the only thing that smartphone users should be cautious about these days. As the holiday shopping season is in full swing, a slew of fake retail apps are appearing in smartphone app stores. These apps, which usually look like
      WP  -  589 words
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      277 16 Dr Tee Tong Yan, ShareInvestorAcademy Trainer In this short course, Dr Tee will teach the powerful methods step by step, how to select strong global blue chip stocks, then wait patiently for different levels of crisis to buy at low price, holding for dividend income, then finally selling at high
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  • CONSUMER
    • Article, Illustration
      Lock icon Sliding pound lures bargain-hungry tourists to shop in London
      599 17 AFP London WHILE the prospect of Brexit is weighing on much of the British economy, tourism and luxury goods businesses are cashing in on bargain-hungry visitors lured by the slide in the pound. London’s tourism agency says sales of goods eligible
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      Lock icon Airbnb moving towards being a full-fledged travel company
      1130 17 Soon users can make restaurant reservations while car rentals, grocery deliveries and even flights are in the works NYTIMES New York AIRBNB, the peer-to-peer accommodations site where travellers book everything from single rooms to entire villas, has spent the past couple of
      NYTIMES; PHOTO: NYTIMES  -  1,130 words
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      Lock icon Melco Crown Entertainment to take its brand into global, high-end hotels
      1136 17 BLOOMBERG Hong Kong MELCO Crown Entertainment Ltd’s billionaire chairman said he wants to be the first resort operator to use Macau as the launchpad for a global hotel brand, beginning with a US$ 1 billion project in the the
      BLOOMBERG; PHOTO: BLOOMBERG  -  1,136 words
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      29 17 SAVING SOLES AND SOULS Two Indian athletes’ eco-friendly enterprise recycles shoes to provide footwear for the unshod GET YOUR COPY TOMORROW TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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  • TRANSPORT
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      Lock icon EU judges try to figure out what Uber is
      940 18 is Uber an app or a transport firm? This query has long vexed regulators and lawmakers across the region BLOOMBERG Luxembourg FIFTEEN judges at the European Union’s (EU) top court are trying to decide, once and for all, whether Uber Technologies
      BLOOMBERG; PHOTO: REUTERS  -  940 words
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      Lock icon Startup aims to fly faster with sonic boom technology
      1299 18 BLOOMBERG Dallas ASK a harried air traveller about the basics of modern flight, and you’ll probably elicit surprise when they discover commercial airplanes fly only as fast as they did in the 1950s. Given the range of aerospace advances in the
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    • Article
      Lock icon Carmakers fund European electric car charging sites to boost demand
      640 18 REUTERS Detroit FOUR of the world’s top carmakers have agreed to invest in thousands of fast-charging sites across Europe to boost mainstream acceptance of electric cars, the companies said on Tuesday. Spurred by the success of US rival Tesla, which
      REUTERS  -  640 words
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  • GOVERNMENT & ECONOMY
    • Article, Illustration
      Lock icon Consumers spending more amid consistent job growth, higher incomes
      621 19 Purchases rose 0.3% in October after a 0.7% September advance, while incomes were up 0.6% LATEST US DATA BLOOMBERG Washington PERSONAL spending in the US rose at a more moderate pace in October after the biggest gain in five months, while
      BLOOMBERG; PHOTO: BLOOMBERG  -  621 words
    • Article
      Lock icon Populism has weakened European integration, says Draghi
      435 19 REUTERS Madrid THE spread of populist movements is threatening European integration and efforts to find joint responses to immigration, security and other shared concerns, European Central Bank (ECB) president Mario Draghi said in an interview published on Wednesday. In some of his strongest
      REUTERS  -  435 words
    • Article
      Lock icon Saudi Arabia transfers 100b riyals to wealth fund for deals
      342 19 BLOOMBERG Dubai SAUDI Arabia is transferring 100 billion riyals (S$38.1 billion) to the sovereign wealth fund to boost investments and diversify from oil. The funds will be allocated to the Public Investment Fund from the kingdom’s reserves, according to a
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      Lock icon Indian economy grows 7.3% in Sept quarter
      512 19 REUTERS BLOOMBERG New Delhi INDIA has posted the world’s fastest growth rate for a large economy in the September quarter. But that offers cold comfort after misery inflicted by the government’s shock move to remove high-denomination banknotes from circulation. Gross domestic product (GDP)
      REUTERS; BLOOMBERG  -  512 words
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      Lock icon EU has much to lose from Brexit damage to UK banking system: Carney
      730 19 BLOOMBERG London MARK Carney has warned that the European Union has a lot to lose from any damage that Brexit does to the British banking system. “The UK is effectively the investment banker for Europe,” the Bank
      BLOOMBERG; PHOTO: BLOOMBERG  -  730 words
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      1006 20 FOONG SUN SHIPPING (PTE) LTD INDONESIA SUMATRA PORTS VESSEL VOY ETA ETD DESTINATION BERJAYA II 14/16 03/12 05/12 BELITUNG/PKL BALAM SRIJAYA 8 31/16 01/12 04/12 JAMBI/PEKAN BARU CARAKA JN 3 II 17/16 02/12 04/12 PALEMBANG/PANJANG FAJAR MAS 12/16 04/12 06/12 BELAWAN/MALAHAYATI INDONESIA JAVA SULAWESI PORTS VESSEL VOY ETA ETD DESTINATION
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  • INVESTMENT ROUNDTABLE
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      Lock icon Investors ought to strap in for a rough ride in the new year
      3782 21 Trump could light the fires of inflation and trigger fiscal stimulus and large-scale infrastructure investment. But that’s just the good news. Roundtable participants: ICharles Collyns, chief economist and MD, institute of international Finance I Paul Sheard, executive
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  • OPINION
    • Article
      Lock icon High stakes talk this weekend between Moscow and Tokyo
      598 22 EDITORIAL THE talks scheduled for this weekend in Moscow between Russia’s Foreign Minister Sergey Lavrov and his Japanese counterpart, Fumio Kishida, could represent what some see as “possibly the last chance” to settle a critical territorial dispute between Russia and Japan.
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      Lock icon 10 likely consequences of Trump’s presidency
      1150 22  -  The good news starts with US growth, which will almost surely rise, but the bad news includes a shift away from free trade and accelerating inflation. BY ANATOLE KALETSKY inflation.BY ANATOLE KALETSKY T The writer is chief economist and co-chairman of Gavekal Dragonomics and
      PROJECT SYNDICATE; PHOTO: AFP  -  1,150 words
    • Article
      Lock icon America enters reign of unprecedented corruption
      827 22  -  THE BOTTOM LINE By Paul Krugman NYTIMES REMEMBER all the news reports suggesting, without evidence, that the Clinton Foundation’s fundraising created conflicts of interest? Well, now the man who benefited from all that innuendo is on his way to the White House. And he’s
      NYTIMES  -  827 words
    • Article
      Lock icon Referendum in Italy may have EU-wide impact
      1052 23  -  TTCOMMENTARY By Andrew Hammond T The writer is an associate at the Centre for International Affairs, Diplomacy and Strategy at the London School of Economics ITALY votes on Sunday in a constitutional referendum that, should there be a “no” vote, could trigger the
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    • Article
      Lock icon The complex relationship between urbanisation and water availability
      857 23  -  By Peter Brabeck-Letmathe T The writer is chairman of Nestlé SA I PARTICIPATED in the combined 2016 Singapore International Water Week and World Cities Summit, which gave me an opportunity to reflect on the complex relationship between water and urbanisation. Here are
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      Lock icon How blockchain could revolutionise bourse trading and management
      1168 23  -  But the new technology’s public nature is a double-edged sword that both contributes to and detracts from its appeal. BY MARCUS CHOW AND JOLIE GIOUW BY MARCUS CHOW, JOLIE GIOUW T Marcus Chow is a partner and Jolie Giouw a counsel in
      PHOTO: KUA CHEE SIONG/THE STRAITS TIMES  -  1,168 words
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  • LIFE & CULTURE
    • Article
      Lock icon Gulf gathering aims to protect endangered heritage
      539 24 AFP Abu Dhabi EXPERTS and government delegates from around the world will gather in the Gulf on Friday, seeking to build a global alliance to protect cultural heritage threatened by extremism and conflict. France and the United Arab Emirates are leading the initiative
      AFP  -  539 words
    • Article
      Lock icon Leaving the nest is proving difficult for young adults in Asia
      942 24 In Japan and South Korea, the ageing societies and slowdown in economic growth play a part BLOOMBERG Tokyo IN SOME of Asia’s biggest economies, young adults are living longer with their parents as they struggle to strike out on
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      Lock icon Great Barrier Reef hit by worst coral die-off on record: scientists
      1085 24 About two-thirds of the shallow-water coral on the reef’s northern stretch are dead NYTIMES Sydney SCIENTISTS surveying the Great Barrier Reef said on Tuesday that it had suffered the worst coral die-off ever recorded after being bathed this year
      NYTIMES; PHOTO: NYTIMES  -  1,085 words
  • Page 24 Miscellaneous
    • Miscellaneous
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      315 24 CRYPTIC CROSSWORD Across 1 Such a worker houses journalist following murder (4-7) 9 Exchange parts of plan for rugby restart (4-3) 10 Standard officer in the United States navy (6) 12 Making a profit from the web? (7) 13 See code is broken and Enigma’s opening (7) 14 Plants oddly
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