The Business Times, 31 December 2016

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Microfilm: NL34123
Total Pages: 61
1 36 The Business Times
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  • Title Section
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    70 1 THE BUSINESS TIMES Weekend Dec 31 2016 Jan 1 2017 S$1.20 I N ES S T I M ES N OT TO B E S O LD S E PA R AT E LY FR O M T H E B U S THE BUSINESS TIMES WEEKEND businesstimes.com.sg fb.com/thebusinesstimes @BusinessTimes
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      86 2 December31 2016 January ***** January 1 2017 B U S I N E S S T I M E S C O M S G C O R E G N N O 1 9 8 4 0 2 8 6 8 E M C I P 0 4 0
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      39 2 Buzz 4 Buys 6 Shop 7 The Weekend Interview Lim Tian Wee, founder of Gryphon Tea 8 Feature Breaking New Ground 10 Design 16 Haunt Jalan Besar 18 Food 20 Tech Happy New Gear 23 Wine 24 Nostalgia 26
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      59 2 Talk to us at btweekend@sph.com.sg Editor Jaime Ee Deputy Editor Dylan Tan Writers Helmi Yusof Tay Suan Chiang Samuel Ee Rachel Loi Avanti Nim Cheah Ui-Hoon Art Director Chris Foo Designers Garcon Design Contributors Christopher Lim Lin Weiwen Li Rong Weekend is published by The Business Times under Singapore Press
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      72 3 Didier Gourdon J L RICHARD MILLE 53N p ss s r» s# t 3 i k a? "v"*V 8 Vi to r- i (Vi w i/J-i r-v i •>.* -A i c" Tits £V tP! §1 **>1.*-. *2.i Cv •v'v v V. .N t‘* p CALIBER RM 07-01 RICHARD MILLE
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  • Article, Illustration
    Lock icon Star-studded Countdown
    84 4 Ring in the new year with an all-star concert headlined by 15-time Grammy winner Alicia Keys. Joining her at Rock On! 2017 at The Float Marina Bay are Taiwan’s Rainie Yang as well local singer and actress Joi Chua. The multi-million dollar show will erupt in a major
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  • WeekendBuzz
    • DineNow
      • Article, Illustration
        Lock icon THE RITZ-CARLTON, MILLENIA SINGAPORE
        77 4  -  COMPILED BY DYLAN TAN, TAY SUAN CHIANG, HELMI YUSOF, RACHEL LOI The hotel launches Super Night on Dec 31 to welcome in 2017. Indulge in an epicurean eight-course set dinner that includes Kaluga queen caviar, baked Atlantic turbot and chargrilled wagyu tenderloin. As the clock approaches
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      • Article, Illustration
        Lock icon ESQUINA 5th ANNIVERSARY
        59 4 ESQUINA 5 th ANNIVERSARY The modern Spanish restaurant celebrates its fifth anniversary with a $55 five-course tasting menu until end Jan, featuring favourites such grilled octopus and Spanish nigiri. Special collaboration dinners will take place over the next few months, when head chef Carlos Montobbio cooks alongside Diego Jacquet of
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    • Article, Illustration
      Lock icon Party On!
      53 4 Cool folks know that Zouk is the place to have a proper New Year’s Eve party. On Dec 31, Zouk’s EDM whiz, Lincey, and Electro overlord Hong, will be on the decks hitting all the right notes. It’s not just four-to-the-floor, its all-on-the floor, body-moving action. Admission for
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    • Article, Illustration
      Lock icon my favourite album
      29 4 ARENA (1984) BY DURAN DURAN “Everything you need to know about eighties new wave pop can be heard in this all-killer-no-filler keyboard-and-drum-machine classic.” Tim Nigel, trader
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      Lock icon Chill Out
      73 5 Got a party and need some booze? Get it delivered within an hour, and chilled so it can be served on the spot. Siblings Travis and Suzanne Chia are making this possible with their new alcohol online delivery platform alcoholdelivery.com.sg. Established in 2012, they currently have an inventory
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    • Article, Illustration
      Lock icon Knock ’em Dead
      77 5 Here’s a theatre experience unlike any other. Fight! Palast #MembersOnly is inspired by the novel and film Fight Club. The interactive play looks at how we live and work in the Internet age, squeezing kickboxing, hashtags, contemporary politics and philosophy into one heady package. Performed by German-Swiss
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    • Article, Illustration
      Lock icon For The Record
      73 5 Midway during his work on his latest album Skeleton Tree, one of Australian singer-songwriter Nick Cave's sons was tragically killed after falling off a cliff. Named as one of the best albums in 2016, the raw emotion of the work and Cave's grief are captured in the
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    • Article, Illustration
      Lock icon My Weekend
      262 5  -  PEOPLE DO, WHY AND WHERE TO TOLD AS HELMI YUSOF “The end of the year is a good time for me, if only for the fact that my mother makes an amazing soup out of the Christmas turkey leftovers. I call it "Bacon Christmas turkey soup" because we
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  • WeekendBuys
    • Article, Illustration
      Lock icon Boutique
      86 6 “If you can’t be better than your competition, just dress better.” ANNA WINTOUR Lipstick in RPC 70, $51 From YSL Beauty Leather Patent Lune Bag, $2,590 From Bally Etincelle de Cartier Diamonds platinum ring, $4,250 from Cartier 10cm Strappy sandal in smooth goatskin, $1,145 from Chloe Erdem embroidered dress,
      PRICES ARE ACCURATE AT TIME OF PRINTING  -  86 words
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  • WeekendShop
    • Article, Illustration
      Lock icon XTRA Space
      505 7  -  Have lunch and buy a chair at the furniture stalwart’s new store in Marina Square. Avanti Nim reports. Avanti Nim LIKE dog years, being able to sustain a retail business for, say, 10 years, would be considered a very good run. To last 27 years as an independent
      PHOTOS: XTRA  -  505 words
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  • WeekendInterview
    • Article, Illustration
      Lock icon Lim Tian Wee
      913 9  -  Founder and executive director of Gryphon Tea Company by DYLAN TAN MOST of us wake up to a cup of coffee but for Lim Tian Wee, “tea is in (his) blood”. He's also come a long way from helping out at the warehouse of the family business
      PHOTOGRAPHY: JULIANA TAN  -  913 words
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      54 9 f ROLEX THE DATEJUST 4 I The new generation of the essential classic, with a new movement and design that keep it at the forefront of watchmaking. It doesn’t just tell time. It tells history. 7 '28 ill OYSTER PERPETUAL DATEJUST 41 THE ROLEX CENTRE. ORCHARD ROAD SINGAPORE. TEL: 6830
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  • WeekendFeature
    • Breaking New Ground
      • Article, Illustration
        Lock icon NEW BOOK
        913 11  -  Whether it's p blishing a debut novel, venturing into new business territory or changing the way we eat, find out how these six individuals are making 2017 just that little bit more interesting for the rest of us. by h HELMI YUSOF FELICIA Yap is living the dream
        PHOTO: HELMI YUSOF  -  913 words
      • Article, Illustration
        Lock icon NEW HOTEL
        781 12  -  ByT I TAY SUAN CHIANG WEE Teng Wen never set out to build a restaurant group. But now he has, with a string of eateries from casual (OverEasy) to garden-centric (White Rabbit) to fine dining (Odette). The 36-year-old never set out to open hotels, either. But now he
        PHOTOGRAPHY: YEN MENG JIN  -  781 words
      • Article, Illustration
        Lock icon NEW DEVELOPER
        772 13  -  ByT TAY SUAN CHIANG WHEN she was still a student at CHIJ, Rina Raj's favourite lunch was the roast duck rice at Carlton Restaurant, a coffeeshop along East Coast Road. Little did she realise that one day, she would be the owner of that very coffeeshop and the
        PHOTOGRAPHY: YEN MENG JIN  -  772 words
      • Article, Illustration
        Lock icon NEW BOSS
        519 14  -  ByH HELMI YUSOF Singapore arts has a new champion, and her name is Sarah Martin. The former Singapore Grand Prix's director of operations took over the helm of Arts House Limited (AHL) earlier this month, and plans to to build upon its brand using her “unique skill set
        PHOTOGRAPHY: KELVIN CHNG  -  519 words
      • Article, Illustration
        Lock icon NEW RESTAURANT
        527 14  -  ByJ I JAIME EE He spent 17 years working in kitchens non-stop several in The Fat Duck which gave him the resume that led him to Singapore to head the restaurant Bacchanalia for four years in two locations. Then suddenly, on Dec 15, Ivan Brehm who led Bacchanalia
        PHOTOGRAPHY: KELVIN CHNG  -  527 words
      • Article, Illustration
        Lock icon NEW SERVICE
        508 15  -  ByR RACHEL LOI A love for Japanese cuisine and a desire to bridge the gap between unfriendly traditional chefs and non-Japanese-speaking gourmets led Takashi Yamada to create the unique reservation system Tableall. "My friends always asked me to book restaurants in Japan and I didn't realise how hard
        PHOTOGRAPHY: YEN MENG JIN  -  508 words
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  • WeekendDesign
    • Article, Illustration
      Lock icon House of Worship
      530 16  -  Maria Chiu's home is a green oasis of calm and spirituality, says Tay Suan Chiang Tay Suan Chiang AFTER living in the same house for over 15 years, Maria Chiu and her family weighed their options renovate, or move out? “We decided to stay put after all,
      PHOTOGRAPHY: MATERIUM  -  530 words
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  • WeekendHaunt
    • Article, Illustration
      Lock icon Jalan Besar
      482 18  -  WITH MIKE TAY The fabric designer finds food for the soul in this bohemian neighbourhood TEXT CHEAH UI-HOON MIKE Tay is the self-taught designer behind Onlewo, a line of whimsical patterned fabrics used in furniture, wallpaper and other soft furnishings. The designs are inspired by his own Peranakan
      PHOTOS JOSEPH NAIR  -  482 words
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  • WeekendFood
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      Lock icon NewMenu industry players hat w 'r going to eat next. NewMenu
      980 20  -  Michelin stars, salted egg yolk, Japanese restaurants and hawker fare dominated the food scene in 2016. Rachel Loi asks industry players hat w 'r going to eat next. Rachel Loi WHAT'S IN Superfoods, says Anthony Yeoh, head chef of
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      Lock icon Going for Gold
      722 22  -  Perseverance and healthy self-esteem are key to the staying power of Hong Kong's original celebrity chef, Tay Suan Chiang discovers. Tay Suan Chiang HARLAN Goldstein is your typical, larger-than-life New Yorker who has made his presence felt for good or bad in Hong Kong for the 20-plus
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  • WeekendTech
    • Article, Illustration
      Lock icon Happy New Gear Tangs, Audio Note GearNew GearNew
      478 23 Christopher Lim picks what you need to get 2017 off to a productive start. DEVIALET GOLD PHANTOM If your New Year resolution is to organise that clutter of music speakers at home or work, Devialet's Gold Phantom is music to your ears.
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  • WeekendWine
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      Lock icon Fathers & Sons
      1401 24  - Fathers Sons Two second generation winemakers share how they're taking the family business to a higher level with new ideas and old wisdom. Lin Weiwen reports. Lin Weiwen THE small, red rock looks cold and coarse on your hand, but for Sebastian Fürst, it is his lifeline a little piece
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  • WeekendNostalgia
    • Article, Illustration
      Lock icon Sails Pitch
      165 26  -  by Avanti Nim Jul1950 These 41 excited Malayan Girl Guides were off on a trip of a lifetime to represent their country at the Guide Jamboree in Perth. They weren't headed there on a budget airline, mind you, but the old-fashioned way on the ship Gorgon. They were
      IMAGE YUSOF ISHAK COLLECTION, COURTESY OF NATIONAL ARCHIVES OF SINGAPORE  -  165 words
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      101 27 BT Wkend ad_deck.pdf 1 27/12/2016 7:54:16 PM Relax. Your weekend is here. Only $4.60* Now you can enjoy Weekend edition every Saturday at your doorstep. /month Subscribe now at btsub.sg/weekend or call 6388 3838. Terms Conditions: Subscription Eligibility New subscribers: Subscribers who do not have a Business Times subscription plan
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      225 28 C 1 r v*? f Mi •vA g v HI r* \l M v ‘A,, *L* > 'A •O.WC “■i\ S > < if W i ERa 8 r» m r $TAt I l 9. > > m -~u5t i YOU MUST FI <■/ THEM. THE VALLEE DE JOUX. FOR
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      114 1 THE RAFFLES CONVERSATION LINDA TSAO YANG, AMBASSADOR 14-15 CUBICLE FILES It may have been a bad year, but it’s not a bad life 34 OFFBEAT Farewell, journo lingo 35 The carton of surprises that came hurtling our way in 2016 smashed up notions of how things were supposed to be,
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      43 1 UPFRONT Analysts see a brighter year ahead after flat 2016 In the end, 2016 turned out to be a year of sound and fury, signifying nothing at least on the surface. The STI closed the year almost unchanged from its end-2015 close. 3
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      39 1 WEALTH No expiration date on S&P 500 bull run Bulls believe Trump will start a cycle of profit growth, but to get there, the US economy has to pull off a feat not seen since at least 1937. 21
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      10 1 THE BUSINESS TIMES WISHES ALL READERS A HAPPY NEW YEAR.
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      2 1 *****1 *****1
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon What do we do about Russia?
      812 2  -  INSIDE VIEW by Anna Teo 1What do you think was the most remarkable thing that happened this week? Clearly 2016 wasn’t about to go out quietly. Even in the closing days of what’s been an eventful, tumultuous year, the Israeli-Palestinian conflict reared its head,
      PHOTO: NYTIMES  -  812 words
    • Article
      Lock icon THE WEEK IN REVIEW
      269 2 More changes to the Companies Act were suggested, along with proposed amendments to the Limited Liability Partnerships Act, and the Accountants Act. The current round of proposed changes covers updates to rules governing information on beneficial ownership. Tues, Dec 27 More than nine out of every
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    • Article
      Lock icon THE WEEK AHEAD
      47 2 Singapore’s advance GDP estimates, Q4 and 2016 Tues, Jan 3 The United States’ ISM manufacturing index for December Tues, Jan 3 The Federal Open Market Committee’s minutes of its Dec 13-14 meeting Wed, Jan 4 The US employment situation for December Fri, Jan 6
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  • UPFRONT
    • Article
      Lock icon Analysts see a brighter year ahead after flat 2016
      1303 3  -  They expect the benchmark Straits Times Index to end 2017 between 3,000 and 3,140 points By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore IN THE end, 2016 turned out to be a year of sound and fury, signifying nothing at least on the
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    • Article, Illustration
      Lock icon Contrasting penny tales of Best World and Serrano
      716 4  -  Best World shares up as much as 10 times from end-2015 to September; Serrano set for schemes of arrangement to repay debt By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore AMONG penny stocks, one of the most spectacular stories of 2016 was the rise
      SPH FILE PHOTO  -  716 words
    • Article
      Lock icon Analysts see a brighter year ahead after flat 2016
      618 4 The broker fixes its price target of S$ 3.68 at a 2 5 per cent discount to RNAV. OCBC said CapitaLand’s exposure to China is confined mainly to resilient areas. Residential unit sales remain strong along with retail mall operating statistics,
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    • Article
      Lock icon Bank lending limps along in November
      427 5  -  Figures reflect weakening growth in business and consumer loans amid more pessimistic times for the economy by Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore GAINS in bank lending eased in November from the previous month, reflecting weakening growth in business and consumer loans amid more pessimistic
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    • Article
      Lock icon Top 100 Based on market capitalisation
      682 5 CURR RANK DEC 30 2016 PREV RANK DEC 31 2015 MKT CAP (S$M) DEC 30 2016 CHNG FROM DEC 31 2015 COMPANY 1 1 Prudential 76,541.8 -6.8 2 2 Singtel 59,564.5 1.9 3 3 JMH 57,080.9 18.0 4 4 JSH 53,832.7 24.3 5 5
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    • Article, Illustration
      Lock icon Singapore labour market expected stay tepid in Q1
      908 6  -  GDP growth may still be weak with few signs of a pick-up but global slump is unlikely for now OUTLOOK 2017 by Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore THE official quarterly data coming out of the Ministry of Manpower (MOM) since April
      FILE PHOTO  -  908 words
    • Article, Illustration
      Lock icon Putin rejects tit-for-tat retaliation after US expels 35 Russian diplomats
      770 7 Moscow accuses outgoing US administration of trying to sabotage Trump BLOOMBERG Moscow RUSSIAN President Vladimir Putin has decided against a tit-for-tat retaliation for outgoing US President Barack Obama’s expulsion of 35 Russian diplomats from the United States over cyberattacks allegedly
      BLOOMBERG; PHOTO: AFP  -  770 words
    • Article
      Lock icon Nomura to deepen cost cuts as CEO seeks to keep ship afloat
      639 8 Bank’s “Waterline Project” will try to fight waste and improve the cost-effectiveness of operations over three years BLOOMBERG Tokyo THE code name chosen for Nomura Holdings Inc’s latest cost-cutting drive indicates how strongly its chief executive sees the
      BLOOMBERG  -  639 words
    • Article, Illustration
      Lock icon China Trumps new year with a presidential pompadour
      407 8 NYTIMES Hong Kong PRESIDENT-ELECT Donald Trump’s golden quiff, bushy eyebrows and preening gestures were immortalised this week in China though perhaps not in a way that he would have liked. They appeared on a giant rooster statue, just above some three-toed feet
      NYTIMES; PHOTO: AFP  -  407 words
    • Article, Illustration
      Lock icon STB appoints new chairman and board members
      296 9  -  By Chai Hung Yin chaihyn@sph.com.sg @ChaiHungYinBT Singapore SINGAPORE Tourism Board (STB) has appointed a new chairman and four new board members, among others, the Ministry of Trade and Industry (MTI) announced on Friday. Chaly Mah Chee Kheong, former chief executive officer of Deloitte
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    • Article, Illustration
      Lock icon Singapore to conclude investment agreement with India next year
      385 9  -  By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore SINGAPORE and India are poised to ink a deal on promoting bilateral investments by the end of next year, the Ministry of Finance said in a press release on Friday night. Deputy Prime Minister Tharman
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    • Article
      Lock icon Global equity raising down over 25% in 2016; bankers see a shaky 2017
      682 9 Firms raised US$649b in equity in 2016; for IPOs, money raised falls by about 33% at US$130b REUTERS London GLOBAL equity raising fell by more than a quarter in 2016, data showed on Friday, hit by geopolitical
      REUTERS  -  682 words
    • Article
      Lock icon Jan 3 expected to be one of holiday season’s busiest shopping days in US
      576 10 Holiday Hangover Day joins the year’s frenzied shopping lineup WP New York THERE’S Black Friday, Cyber Monday and Small Business Sunday. Now another frenzied affair joins the shopping line-up: Holiday Hangover Day. This year, it falls
      WP  -  576 words
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      50 6 HOT PROPERTY NEW!!! EXCELLENT VIEW! Pool beside hse! Charlton 3.5-sty terr/ semi-d w/lift. 5+1 gigantic rms. CORNER TERR BRIDPORT Ave Land 2158sf, Built-up 3600sf 2.5Sty, 999yrs, 6+1 rms, Lift 4yrs Nicely Reno, Must view! LANDED PROPERTIES FOR SALE Check out these properties and more in The Straits Times Classified now!
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      11 7 ~Yet another ‘persona non grata’ episode in American history, Page 31
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      373 7 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 and IN THE MATTER OF OMNI TRADER PTE. LTD. Company Regn No *****3446M (In Voluntary Liquidation) NOTICE IS HEREBY GIVEN that the Creditors of the abovenamed Company, which is being wound up voluntarily, are required on or before 31 JANUARY
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      499 7 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF TAISUN TAICANG TERMINAL PTE LTD (Co. Reg. No.: *****2980K) (Incorporated in Singapore) (In Members’ Voluntary Liquidation) At an Extraordinary General Meeting of the Members of TAISUN TAICANG TERMINAL PTE LTD convened and held at Registered Office,
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      202 10 Stnews with benefits IN ASSOCIATION WITH wine our best picks WINE ADVOCATE 3TL STwine st st wine I i V" 7 jJ nii; sm\risii'iis HU. STRAITS TIMES a Fine wines at your doorstep Subscribe to STs new wine club and get up to four bottles of premium wine delivered to
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  • BRUNCH
    • Article, Illustration
      Lock icon Did not see that coming
      79 11  -  2016 was the year that conventional wisdom broke down, blindsided by curveballs flying out of lef field. Who would have thought, at the start of the year, that Britain would vote to leave the European Union, that the United States would elect a reality TV
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    • 2016 in numbers
      • Article, Illustration
        Lock icon POPULISM
        100 12 / 13 A groundswell of populist anger caught the establishment by surprise in a number of democracies around the world, upending traditional power structures and policies. Opinion polls just before Britain’s vote on whether to stay in the European Union Remain Leave 48% 46% Actual Brexit referendum results 48% 52% Number
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      • Article, Illustration
        Lock icon MARKETS
        158 12 / 13 Delistings were the dominant force in a lacklustre stock market over the past year. The consumer sector, in particular, lost a number of prominent brands from the listed universe. 2,880.76 -0.07% year-on-year Straits Times Index Dec 30 close US$25.9m Amount claimed by letters of demand to Swiber Holdings when
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      • Article, Illustration
        Lock icon REGULATIONS
        158 12 / 13 Market regulations underwent a significant amount of adjustments in 2016. The new minimum trading price rule on the Singapore Exchange was a troublesome change that required a fair amount of tweaking, and a controversy erupted over the issue of dual-class shares. et regulations underwent a significant unt f adjustments
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      • Article, Illustration
        Lock icon GLOBAL SLOWDOWN
        148 12 / 13 A major force behind the year’s key events was the slowing global economy, which has put pressure on long-term portfolios and forced central banks into unusual policies. -9% Temasek’s FY16 one-year return, its worst since 2009 10to 20yrs How long GIC expects to have lower long-term returns SINGAPORE
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      • Article, Illustration
        Lock icon BREAKDOWNS
        69 12 / 13 Did you try turning it off, then on again? 20to30 mins 0 Delay caused by malfunctioning polling devices at SMRT Corp’s shareholder meeting evices at SMRT Corp’s 2.5 hrs How long SGX’s securities market was open on July 14 before a technical glitch shut it down for the rest
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      • Article, Illustration
        Lock icon CATCHING FIRE
        63 12 / 13 500mdownloads 500mdownloads of augmented-reality mobile game Pokemon Go! within its first quarter 2 weeks How long the Samsung Galaxy Note 7 was being sold before sales were suspended over concerns about exploding batteries Aug 27 First case of locally transmitted Zika infection in Singapore 50.39s Joseph Schooling’s Olympic–
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      • Article, Illustration
        Lock icon NAUGHTY (ALLEGED) LIST
        97 12 / 13 US$3.5b Amount that the US Department of Justice alleges was misappropriated from Malaysian state fund 1 Malaysia Development Bhd 181 charges Faced by John Soh Chee Wen, the the alleged mastermind behind the 2013 penny stock crash 32 years ago... The last time a merchant bank lost
        Photo: Lianhe Zaobao BT Graphics: Kenneth Lim, Khairie Rahmat, Sarah Chua, Simon Ang  -  97 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon NO EXCUSES
      2272 14 / 15  -  GLASS CEILINGS ARE NO BARRIER FOR THE INDOMITABLE LINDA TSAO YANG BY MELISSA TAN melissat@sph.com.sg @MelissaTanBT IT is a subdued, rainy Monday afternoon in November, the week after the 2016 United States presidential election, and 91-year-old Linda Tsao Yang is musing about the vote. Not so much about
      PHOTOS: YEN MENG JIIN  -  2,272 words
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  • INVESTING & WEALTH
    • COMPANIES
      • Article, Illustration
        Lock icon GIC to pay £48.5m for 50% stake in UK lifestyle complex
        336 16 Fund already has stake in the development via JV with seller Hammerson AFP Singapore SINGAPORE sovereign wealth fund GIC will pay close to US$60 million for a 50 per cent stake in a leisure and dining development in Britain,
        AFP; PHOTO: BLOOMBERG  -  336 words
      • CORPORATE DIGEST
        • Article
          Lock icon Sempcorp industries
          87 16 A UNIT of Sembcorp Industries has sold the 49 per cent stake it owns in Yancheng China Water Co for 260 million yuan (S$ 5 3 million). The group will recognise a net gain of about S$30 million from the transaction, for the financial year ending Dec 31,
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        • Article
          Lock icon Centurion Corp
          62 16 THE former deputy managing director of consultancy KPMG, Owi Kek Hean, has joined the board of foreign workers’ dormitory operator Centurion Corp as a non-executive independent director, the company said in a Singapore Exchange filing on Friday. Mr Owi, 59, will start in the position on Jan 1,
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        • Article
          Lock icon Swiber Holdings
          69 16 TOTAL claims received by struggling offshore engineering group Swiber Holdings stood at about US$288.8 million as at Dec 29, 2016, the group said in an update filed to the Singapore Exchange on Friday night. It said that it was seeking legal advice on the claims. Swiber had previ-
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        • Article
          Lock icon DMX Technologies
          102 16 THE Singapore Exchange (SGX) has on Dec 29 granted digital media and software provider DMX Technologies a waiver of its requirement to provide comparative financial statements, subject to conditions, DMX said in an SGX filing on Friday. The firm sought the waiver after it decided to do an
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        • Article
          Lock icon Genting Singapore
          82 16 CASINO operator Genting Singapore and cruise line Genting Hong Kong, both part of Malaysian conglomerate Genting, have extended the service agreements between them for three more years from Jan 1, 2017. Genting Singapore will provide Genting Hong Kong services such as ticket distribution, up to a cap of
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      • Article
        Lock icon Imperium Crown to exit Japan property market
        359 16  -  by Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore JUST two years after entering the Japanese property market, Imperium Crown wants to sell off all its properties in Japan, blaming in part softer rents in that market and saying the return on capital on its buildings
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      • Article
        Lock icon China tightens anti-money laundering rules for banks
        148 16 BLOOMBERG Beijing CHINA’S central bank said it has tightened requirements for lenders to report cross-border transactions by customers as part of stepped-up efforts to curb money laundering. The People’s Bank of China (PBOC) will require financial institutions to report any cross-border transfers of
        BLOOMBERG  -  148 words
      • Article
        Lock icon Keppel in deal to push back Parden rig delivery
        395 17  -  Agreement provides for rig’s resale to associate of guarantor to Parden’s obligations in the rig contract by Tan Hwee Hwee hweetan@sph.com.sg @HweetanBT Singapore KEPPEL Corporation said after trading hours on Friday that its rig-building arm, Keppel Fels, has entered into a
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      • Article
        Lock icon Adaro Energy likely to extend gains in 2017: analysts
        356 17 BLOOMBERG Jakarta PT Adaro Energy, South-east Asia’s best-performing stock this year, is expected by analysts to extend gains in 2017 as it benefits from rising coal prices and cost-cutting initiatives. The coal miner’s measures to reduce expenses resulted in an earnings
        BLOOMBERG  -  356 words
      • Article
        Lock icon Memtech to record 21.7m yuan gain from sale of under-utilised Huzhou City land
        301 17  -  by Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore AUTOMOTIVE components supplier Memtech International has agreed to sell two pieces of land in Huzhou City, Zhejiang, for 41 million yuan (S$8.5 million) in cash as a divestment of under-utilised assets.
        301 words
      • Article
        Lock icon SECURITIES TRADING SCOREBOARD
        186 17 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 6 4 1 0 0 7 6 4 Manufacturing 35 29 30 9 9 14 44 38 44 Commerce 20 14 15 2 4 6 22 18 21 Tpt/Stor/Comms 9 9 7
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      • Article
        Lock icon SECURITIES TRADING TURNOVER
        123 17 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 10,787 329 11,116 40,373 49 40,422 Manufacturing 115,772 160,409 276,181 57,884 3,957 61,840 Commerce 173,308 7,511 180,819 64,246 140 64,386 Tpt/Stor/Comms 59,668 331 59,999 108,698 32 108,730 Finance 19,351 171 19,522 215,322 24 215,346 Construction
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      • Article, Illustration
        Lock icon China, Brexit & Trump
        1407 18/19 China, Brexit Trump BT Infographics It was a year of two halves in 2016 worries over a hard landing in China, a plunge in oil to below US$30 a barrel and fears that Britain voting to leave Europe would lead to an unravelling of the European Union meant sellers ruled
        BT Graphics: R. Sivanithy, Hyrie Rahmat, Sarah Chua; Photos: AFP, Bloomberg  -  1,407 words
      • Article
        Lock icon An anti-climactic 2016 finish for the ST Index
        565 20  -  STOCKS by R Sivanithy A QUIET week ended on Friday with the Straits Times Index first rising close to 2,900 but eventually settling back at 2,880.76 for a net loss of 8.39 points for the day and a loss of 0.07 per
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      • Article
        Lock icon BT SHARE INFORMATION SERVICE
        782 20 For week beginning Dec 27 Substantial shareholder/director transactions Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) City Dev 28-Dec-16 Aberdeen Ast Mgt Asia *Buy 367 8.15 ***** 9.98 ***** 10.02 CWG Intl 28-Dec-16
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      • BROKERS' TAKE
        • Article
          Lock icon Oil and metals >Hold
          387 20 Oil and metals >Hold CRUDE oil, rubber and metals were set to end 2016 on Friday with strong gains, bouncing back from several years of losses on the back of output cuts and expectations of firmer demand. Benchmark zinc, steel rebar and rubber have all rallied around 60 per cent
          387 words
      • Article, Illustration
        Lock icon NO EXPIRATION DATE ON S&P 500 BULL RUN
        971 21 Bulls believe Trump will start a cycle of profit growth, but to get to where they think earnings are going, the US economy has to pull off a feat not seen since at least 1937 BLOOMBERG a feat not seen since at
        BLOOMBERG; PHOTO: AFP  -  971 words
      • Article, Illustration
        Lock icon China markets: yuan down, stocks down, bonds faltering
        858 22 But all is not entirely lost as some strategists see prospects of a turnaround for some assets OUTLOOK 2017 BLOOMBERG THE China market scorecard doesn’t make for great reading this year. The yuan: down the most since 1994. Stocks: down the most
        BLOOMBERG; PHOTOS: REUTERS, BLOOMBERG  -  858 words
      • Article, Illustration
        Lock icon Venture capitalists see promise after a tight year for US startups
        903 23 But some investors warn more money will not necessarily save the most troubled startups INVESTORS who once poured money into America’s startups with abandon began to tighten their belts this year. The amount of money that flowed into US
        PHOTO: NYTIMES  -  903 words
      • Indices
      • Article, Illustration
        Lock icon Commodities
        28 24 Oil (US$/bbl) NAME PRICE/UNIT 3-MONTH% Gold US$1,159.12/oz -12.6 Silver US$16.219/oz -15.9 Copper US$5,487/MT 13.3 Soybeans US$1,012.8/bu 5.2 Palm Oil MYR3,114/MT 19.4 Coffee US$135.55/lb -12.5 Sugar US$19.58/lb -14.9
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      • Currencies
        • Article, Illustration
          Lock icon Asian currency vs USD
          106 24 Singapore dollar per USD Compiled from Bloomberg at 5.30pm on Dec 30 CURRENCY PRICE 5-DAY 5-DAY 1-MONTH 1-MONTH YEAR-TO-DATE Singapore dollar 1.4454 0.06 -1.37 -2.23 China RMB 6.9478 -0.02 -0.94 -6.63 Offshore RMB 6.9734 -0.32 -1.05 -5.78 Indian rupee 67.8900 -0.10 0.88 -2.55 Indonesian rupiah 13,438
          Compiled from Bloomberg at 5.30pm on Dec 30  -  106 words
      • STI
        • Article
          Lock icon Straits Times Index component stocks
          396 25 NAME PRICE WEEKLY PRICE CHANGE PRICE LOW HIGH YTD TOTAL RETURNS P/E P/B DIVIDEND 12-MONTH YIELD MARKET CAP ($M) 52 WEEK PRICE RANGE Jardine Cycle Carriage Ltd 41.23 32.05 44.9 21.5 17.4 1.97 2.3 16,295.6 City Developments Ltd 8.28 6.62 9.23 10.3 9.3 0.84 1.0
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      • Reits and rates
    • REAL ESTATE
      • Article, Illustration
        Lock icon Kenyans tackle huge housing shortage to stem spread of slums
        1039 26  -  Karibu Homes is one of a handful of developers building affordable homes in the country Athi River Kenya REUTERS RECENTLY married with a one-year-old child, Joan Moraa Mbogo dreams of escaping Kenya’s noisy, dirty, crime-ridden capital and buying a home
        REUTERS; PHOTO: REUTERS  -  1,039 words
      • Article, Illustration
        Lock icon Gentrification splits famous London district of Brixton
        541 27 Such is the scale of change in the neighbourhood that locals say they are being forced out by rising prices AFP London ONCE the epicentre of some of Britain’s worst race riots in the 1980s, the London neighbourhood of Brixton is now facing
        AFP; PHOTO: AFP  -  541 words
      • Article
        Lock icon Househunt
        1416 28 Property transactions for selected districts with contract dates between Dec 15 and Dec 20, 2016 PROJECT NAME/ PROP CONTRACT TENURE BUILT-IN TRANSACTED PSF TOX* RENTAL STREET NAME TYPE DATE /LAND PRICE (S$) YIELD** AREA (S$,000) (SQF) District 2 ICON Apt 16/12/2016 99 1,249 1,650 1,321 -7.82 3.71 District 3
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      • Article
        Lock icon Top median rentals of projects by district in last 3 months
        283 29 PROJECT NAME/ PROPERTY LOWEST MEDIAN HIGHEST NO. OF STREET NAME TYPE PRICE (S$) PRICE (S$) PRICE (S$) TRANSACTIONS District 1 MARINA BAY RESIDENCES Condo 4,400 6,000 12,000 11 THE SAIL MARINA BAY Apt 2,350 4,500 9,100 21 ROBINSON SUITES
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      • Article
        Lock icon Top 10 Condo searches
        96 29 RANKING NAME TOTAL SEARCHES IN PAST MEDIAN PRICE PSF TWO WEEKS (S$) 1 RIVER PLACE 261 1,313 2 FLAMINGO VALLEY 245 1,168 3 THOMSON VIEW Condo 205 834 4 SIMS URBAN OASIS 202 1,410 5 WATERBANK AT DAKOTA 200 1,486 6 PARC VERA 190 956 7
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      • Article
        Lock icon Mortgage rates this week
        160 29 DATE FLOATING RATES, PEGGED TO: FIXED RATES WEEK OF DEC 26 SIBOR SOR COMBO BANK’S BOARD RATE Lowest rate 1.22% 1.56% 1.59% 1.00% 1.80% this week Change from 0.03% 0.09% 0.07% 0.00% 0.00% last week Monthly payment* $1,160.28 $1,208.54 $1,212.16 $1,130.62 $1,242.56 Change from $4.31 $13.27
        160 words
      • Article, Illustration
        Lock icon HK to sell first commercial site in Central since 1996
        394 29 Plot is valued at HK$15.8b to HK$17b; sale, slated for Q1, comes after some record-breaking deals in city’s office market BLOOMBERG Hong Kong HONG Kong’s government has announced the first sale of commercial land in the city’s central business district
        BLOOMBERG; PHOTO: BLOOMBERG  -  394 words
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      22 17 Find painters to do the job or promote your services in CLASS 112 To advertise, call the Print Classified Hotline: 1800-289 9988
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    • Advertisement
      Lock icon Page 17 Advertisements Column 2
      524 17 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND IN THE MATTER OF FAREX INTERNATIONAL REALTY PTE. LTD. (IN MEMBERS’ VOLUNTARY LIQUIDATION) CO. REG. NO. *****6918K Extract of the minutes by corporate representative of Seriwan Holdings Limited, relating to the proceedings of subsidiary company under Section 179(6) of the
      524 words
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      Lock icon Page 27 Advertisements Column 1
      97 27 Relax. Your weekend is here. THE BUSINESS TIMES -j f ,■*< 0VER Ate ££*511 r* L,/ Now you can enjoy THE BUSINESS TIMES Weekend edition every Saturday at your doorstep. Subscribe now at btsub.sg/weekend or call 6388 3838. Terms Conditions: Subscription Eligibility New subscribers: Subscribers who do not have a
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  • THE BROAD VIEW
    • Article, Illustration
      Lock icon No food, no meds, no respite: A boy’s death in Venezuela
      1188 30 The country’s economic crisis has led to great suffering but it is the story of a boy who foraged for food and ended up being poisoned that seems to embody all of Venezuela’s ills NYTIMES HIS name was Kevin
      NYTIMES; PHOTO: NYTIMES  -  1,188 words
    • Article, Illustration
      Lock icon Yet another ‘persona non grata’ episode in American history
      847 31 The 35 Russians expelled from the US and stamped as “personae non gratae” are not the first to receive the label from an American president, nor is the label unique to the US WP IN response to Russian hacking of American
      WP; PHOTO: AFP  -  847 words
    • Article, Illustration
      Lock icon The Unsinkable Debbie Reynolds
      926 32 The Hollywood star of the 1950s didn’t so much act as sell she sold happiness, pragmatic romance, professional stardom NYTIMES NOBODY like Debbie Reynolds is ever happening at the movies again. Who will be as plucky? Who will work as hard to stay as morally pure?
      NYTIMES; PHOTOS: EPA  -  926 words
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  • HEALTH
    • Article, Illustration
      Lock icon Medicine in evolution
      1628 33  -  With newer studies, doctors are shedding outmoded practices Dr Michael Lim Medical Director Singapore Heart, Stroke Cancer Centre MEDICINE is constantly evolving. Twenty years ago, if a physician said that high density lipoprotein (HDL) cholesterol or so called “good” cholesterol is of no importance to the heart
      1,628 words
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  • LIFE & CULTURE
    • Article, Illustration
      Lock icon It may have been a bad year, but it’s not a bad life
      1146 34  -  It’s that time of year, when we reflect, think about lessons learnt, and make decisions CUBICLE FILES By Vivien Shiao vshiao@sph.com.sg @VivienShiaoBT THERE’S something about the passage from one year to the next that leads people to
      ILLUSTRATION: KENNETH LIM  -  1,146 words
    • Article, Illustration
      Lock icon Farewell, journo lingo
      708 35  -  OFFBEAT by Kelly Tay “For last year's words belong to last year's language And next year's words await another voice.” T.S. Eliot I REMEMBER stepping into The Business Times newsroom six years ago, wondering what on earth I had gotten myself into: an English Literature major, allergic
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  • Page 35 Miscellaneous
    • Miscellaneous
      Lock icon Page 35 Miscellaneous Column 1
      356 35 CRYPTIC CROSSWORD Across 1 Wander about with son in lodgings (7) 5 Starter, perhaps, requiring study to get flavour (7) 9 Drink round lake chap’s left for cold meal (10,5) 10 Mo not leader? Doubtful (4) 11 Hundred students hope to pass this rock? (5) 12 Drooping fruit cut close
      356 words
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  • SPORTS
    • Article, Illustration
      Lock icon SIX SPORTING WISHES FOR A GREAT 2017
      1077 36  -  ill Roger Federer make his dramatic comeback? Will Singapore’s Lions wow at the Sea Games? My wish list bares all THE FINISH LINE by Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT WE are just hours away from heralding a brand new year, and there’s already so
      PHOTO: AFP  -  1,077 words