The Business Times, 24 December 2005
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2005-12-24
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The Business Times
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Title Section16 2005-12-24 1 THE BUSINESS TIMES weekend SINGAPORE 85 cents MICA (P) 069/03/2005 online at http://business-times.asial.com.sg December 24-25, 200516 words
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545 2005-12-24 1 OH BOON PING - It will buy a palm oil agri-business from Wilmar Holdings and exit the healthcare industry By OH BOON PING [SlNGAPOßE] In one of Singapore's largest reverse takeovers. managed healthcare services provider Ezyhealth Asia will buy a palm oil agri-business from Kuok-linked Wilmar Holdings Pte545 words
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Article, Illustration899 2005-12-24 1 SAMUEL EE - MOTORING By SAMUEL EE [SINGAPORE] Few new and exciting models were launched in 2005. But most consumers probably don't care. They will remember it as the year car prices dropped to a new level of affordability. A bumper crop of certificates of899 words
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417 2005-12-24 1 Rescue deal offered by FairPrice but parties couldn't agree on terms [SINGAPORE] Nextmall, the China hypermarket venture of NTUC Fair Price, is shutting down after racking up nearly $80 million in debts and more than $40 million in losses over the three years417 words
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Page 1 Advertisements
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Advertisement15 2005-12-24 1 SINGAPORE 85 cents There will be no BT on Monday. Publication will resume on Tuesday15 words
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Advertisement22 2005-12-24 1 SHOPPING RAFFLES SHi CONVERSATION THE SANTA AWARDS PAGES 14 15 CHRISTMAS CROSSWORD Try your hand at winning a prize worth 5259 PAM22 words
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TOP STORIES
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Article, Illustration683 2005-12-24 2 ANNA TEO - A love for running and a flair for tough trade negotiations live in the body of WTO chief Pascal Lamy. ANNA TEO finds out from his blog ANNA TEO ANYONE who a fortnight ago knew little about World Trade Organization (WTO) chief Pascal Lamy would be ablePHOTO: AFP - 683 words
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Article, Illustration638 2005-12-24 2 Charities go online to promote ethical gift-giving AFP [LONDON] The humble goat is stepping out of the nativity scene into the forefront of ethical Christmas gift-giv-ing in Britain this year, with villagers in the poorest parts of Africa reaping the benefits. JustAFP; PHOTO: AFP - 638 words
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Article134 2005-12-24 2 Dsn 2,32*29(44.63) ST INDEX FUTURES 2.328.00 (+5.00) siMsa 275.98 (+0.86) SIMSO FUTURES 277.90 (+1.30) MARKETS Friday Change KLSECOMP 892.13 -3.72 NIKKEI 225 Closed HANG SENG 15,183.58 +1.05 SET INDEX 698.95 +2.54 JAKARTA COMP 1,158.34 -5.68 MANILA COMP 2,111.46 +32.88 SEOUL COMP 1,359.53 +8.66 SHENZHEN B 192.29 +1.26 MUMBAIIND134 words
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Article443 2005-12-24 2 Reverse takeovers are back in vogue AS some companies drop initial public offer plans, others are pressing ahead with reverse takeovers. The latest is mainboard-listed Ezyhealth Asia which will acquire a palm oil agri-business from Wilmar Holdings for $1.29 billion. COMPANY NEWS, PG4 KK Fong seizes chance to443 words
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Article, Illustration379 2005-12-24 2 Source: The Globalise Pollution Revisited The Kyoto Treaty is continuing to stir up emotions around the wortd. At the centre of the debate is the United States* which did not ratify the agreement and is thus not bound by its obligations. We wonder How many industrialised countries registered increasesSource: The Globalise - 379 words
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RAFFLES CONVERSATION
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Article, Illustration1919 2005-12-24 3 CHEN HUIFEN - The motivation of a doctor and a drug company is almost the same —to help patients, Novartis CEO Daniel Vasella tells CHEN HUIFEN CHEN HUIFEN IF THERE is one mantra that Daniel Vasella lives by, it is probably this: that which does not kill you makes youYEN MENG JIIN - 1,919 words
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Page 3 Advertisements
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Advertisement102 2005-12-24 3 The Raffles Conversation is brought to you through a special arrangement with Raffles International Hotels and Resorts. The 1 B j I Traveller's Palm in the Raffles International I I I ■(-■V logo is an apt symbol. Not only has water stored -A- a t the base of this palm102 words
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COMPANY NEWS
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Article, Illustration777 2005-12-24 4 LESLIE YEE - NEWS ANALYSIS Weak IPO market may be driving businesses to take that route to listing, reports LESLIE YEE LESLIE YEE AS some companies drop initial public offer plans because of investor indifference, others are pressing ahead with reverse takeovers (RTOs). Yesterday saw the announcement777 words
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Article, Illustration741 2005-12-24 4 CONRAD RAJ - Court scheme allows him time to pay $80m debt, repair reputation By CONRAD RAJ WHEN flamboyant businessman Fong Kah Kuen, better known as KK Fong, disappeared from the Singapore scene four years ago amid a mountain of debt, he promised toARTHUR IH - 741 words
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Article, Illustration414 2005-12-24 4 SIOW LI SEN - By SIOW LI SEN BANKER Wee Cho Yaw's stake 3n Land (BOL) has beftffpiling up thNßSrit seas exchangeable bond programme, prompting the question of whether this will lead to a takeover of the property company. In barely 10 trading days, Mr414 words
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231 2005-12-24 4 CONRAD TAN - By CONRAD TAN UNITED Overseas Bank will offer renminbi (RMB) banking services at its Xiamen branch in China from Boxing Day. The branch is UOB's third in China to offer such services to foreign nationals and enterprises, after its Shanghai and Shenzhen231 words
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406 2005-12-24 5 ARTHUR SIM - JC&C shareholders okay dividend in specie By ARTHUR SIM THE way has been paved for Hongkong Land's wholly owned subsidiary, HKL (Morpheus) Pte Ltd, to make its formal offer for MCL Land. This follows satisfaction of a pre-condition involving Jardine Cycle406 words
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COMPANY BRIEFS
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65 2005-12-24 5 PHARMESIS International yesterday warned that its fiscal 2005 profits are likely to be weaker than last year, partly as a result of higher overall expenses. Despite revenue for the second half of FY2005 expected to be higher than in the first half, total revenue65 words
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77 2005-12-24 5 SINGAPORE Shipping Corporation (SSC) has clinched a $31.6 million deal to sell five bunker vessels to Global Energy. The vessels are expected to be completed no later than March 15 next year. SSC. which has reconsidered its strategy to renew its fleet and shift77 words
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82 2005-12-24 5 SINCERE Watch is paying about $8.9 million for 175,000 shares in Luxembourg-based Chrono Star Internationa] Participations Groupe Franck Muller, the parent company of Groupe Franck Muller which owns and operates the high-end Franck Muller Geneve brand of watches. Based on the audited financial statements82 words
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104 2005-12-24 5 INFORMATICS, the troubled education provider, has taken a short-term unsecured loan of 1.5 million for working capital purposes from Berjaya Land, the holding company of Beijaya Leisure Capital, which has a controlling 26.6 per cent stake in Informatics (as at Dec 7). The loan carries104 words
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580 2005-12-24 5 AL LABITA - Attacks made to force 'revolutionary tax' payments By AL LABITA in Manila FOR refusing to pay "revolutionary taxes" to communist rebels, SingTel's listed Philippine unit, Globe Telecom, has paid a heavy price. Based on latest police count, 22 relay towers580 words
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Article, Illustration294 2005-12-24 5 Bloomberg SHARES of Chartered Semiconductor Manufacturing Ltd, the world's No 3 supplier of computer chips, were raised to "buy" by ÜBS AG, on expectations that earnings will continue to improve. The stock advanced. Chartered shares added 5 per cent to $1.27 at theBloomberg; BLOOMBERG - 294 words
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Article, Illustration488 2005-12-24 5 R SIVANITHY - STOCKS R SIVANITHY Senior Correspondent THEY say a picture is worth a thousand words. So, if you were to try and describe trading this week in a single picture, a large yawn would do quite nicely. Sure, there were some themes to488 words
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Advertisement1 2005-12-24 4 ■9BVBRV99ftvS9SftmwMa^9&vi3Mftl!lKlMr&«B^1 words
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Advertisement504 2005-12-24 5 0/t) 1 rt >1 '1 GREEN WORLD HOLDINGS LTD (Incorporated in the Republic of Singapore) (Company Registration No: *****3944K) NOTICE OF EXTRAORDINARY GENERAL MEETING" NOTICE IS HEREBY GIVEN that an EXTRAORDINARY GENERAL MEETING ("EfiM") of Green World Holdings Limited (the "CflmoamO will be convened on Thursday, 12 January 2006. at504 words
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PERSONAL INVESTMENT
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Article1048 2005-12-24 6 MATTHEW PHAN - Compiled by MATTHEW PHAN Chartered Semiconductor Mfg Doc 23 dose $127 ÜBS INVESTMENT RESEARCH. Dm 22 SEASONAL strength tracking ahead: We believe Chartered is benefiting from seasonal strength for Q405, with sales momentum driven mainly by the consumer segment, including its CPU business for Xbox, and in applications such1,048 words
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Article891 2005-12-24 6 For week beginning Dec 19 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Subsantial My Hoof Prtco SHAREHOLDING Trans SharahoMor/ Salt Shara; Nr ijrforo Afttr Stodi Data Director Conv 000 Shr (000) I" 00 EuYanSang 22-Dec 05 Eu Yee Tat Sell 500 0.60 ***** 3.34 ***** 3.20 Semb Music 22-Dec-05 Boo891 words
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Article, Illustration1060 2005-12-24 6 TEH HOOI LING - SHOW ME THE MONEY Man Wah, Hongguo and Portek among stocks that boast decent yields TEH HOOI LING Senior Correspondent LAST week, we talked about stocks which were trading at very low earnings multiples that had gone on to reward investors handsomely. A reader wroteFILE PHOTO - 1,060 words
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BT INVESTMENT ROUNDTABLE
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Article, Illustration3292 2005-12-24 7 OVERVIEW WHAT do fund experts and advisers see in store for 2006? Thus far, Asian and emerging markets equities have been very rewarding, even with higher oil prices and interest rates. BCA Research, in a Dec 16 global strategy report, says short-term interest rates remain far3,292 words
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SINGAPORE NEWS
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539 2005-12-24 8 KALPANA RASHIWALA - The building may be sold collectively as it has numerous owners By KALPANA RASHIWALA PLANS to rejuvenate the old Central Business District (CBD) continue to gather momentum. A new 35-sto-rey hotel, or a commercial or residential project could come up539 words
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Article202 2005-12-24 8 TRANSPORT and communication costs fell 1.2 per cent last month, due to lower car prices and cheaper petrol, according to the Singapore Department of Statistics. On the whole, the consumer price index (CPI) fell slightly, by 0.1 per cent, from end-October to end-Novem-ber. The price of202 words
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447 2005-12-24 8 UMA SHANKARI - By UMA SHANKARI THE Ministry of Health (MOH) yesterday announced some of the measures it will take to strengthen its regulatory regime for organisations such as the National Kidney Foundation (NKF). First, a full list of the Institutions of a Public Character (IPCs) of447 words
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Article4776 2005-12-24 8 UNIT TRUSTS FUNDS cwgnupAMiMgt Citi Global Bond/ A 1.444/ Citi Asia Infrastructure 0.7726/0.8035 Am Mm ami mgi i> poroj rM Star Europe Eqty!" 0.871 Star Eirope Bond 1 2/ <££ £2 Star Europe Bal 1.14V i nMft Acm Tiner Fatv 113/ Money SGD Class A 1 0336/ toSTta? 1 33314,776 words
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Page 9 Miscellaneous
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Miscellaneous412 2005-12-24 9 drop off to visit? (5.5) WTorthestaft'l interposed Wsa«W(9) I HI. HI HH Beat or give a pasting to (6) I T J H HH H 4^^^T(^ te,nPt^^^^ 14 Really good shotatlhe hole in the return ■■___jBL—_|H|—— ||~~I~|ll~ll~~Tl again?What a thir>910 LgJ LhLhH Ibone healed, prepared to go to sea 19412 words
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MALAYSIA
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Article, Illustration493 2005-12-24 10 S JAYASANKARAN - He threatens legal action against those behind the allegations By S JAYASANKARAN in Kuala Lumpur MUNIR Majid, chairman of the state-owned Malaysian Airline System (MAS), yesterday denied recent allegations against him that culminated in a senator calling for him to resign. In a toughly-wordedFILE PHOTO - 493 words
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301 2005-12-24 10 Bloomberg, Bernama Bernama [KUALA LUMPUR] Cahya Mata Sarawak Bhd and its partners have submitted a bid to the Malaysian government to build an aluminium smelter in Sarawak that may cost as much as US$3.2 billion, the company said. Cahya's group, which alsoBloomberg, Bernama; Bernama - 301 words
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362 2005-12-24 10 Bernama [KUALA LUMPUR] Malaysia's economy has been projected to grow slightly faster in 2006 at 5.4 per cent on the back of better private investment and healthy private consumption. Making the forecast, Japan External Trade Organisation (Jetro) in its report, "2006Bernama - 362 words
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Article7533 2005-12-24 10 Transaction date: Dec 23 52-Wk W Lut Vol Day LjctQuoU GrOtv Dtv GrYtd MM MCap Wall low Cod* Company Sale C000) HH#> low Hm S*r Cw H W 7.5 2 5716 1st Software 5c 2.5 -0.5 70 2.5 2.5 2.5 3 Jttl 22 6 3148 BTelecom U52c 757,533 words
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INDONESIA
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Article, Illustration320 2005-12-24 11 200,000 more workers required, spending to reach US$2b a year Reuters [JAKARTA] Indonesia's Aceh, devastated by last year's tsunami, is about to experience a construction boom that will require an additional 200,000 workers in mid-2006, the United Nations Development Programme (UNDP) saidReuters; REUTERS - 320 words
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191 2005-12-24 11 Reuters. AFP [JAKARTA] A senior Indonesian police general has been detained in connection with a multi-million-dollar graft case at the country's third-largest bank, a police spokesman said yesterday. The authorities are questioning former chief detective General Suyitno Landung as part ofReuters.; AFP - 191 words
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Article5491 2005-12-24 11 Transaction Date: Dec 23 MOST ACTIVE STOCKS VOLUME VALUE UniFiber 10c 32.865.000 DBS GfP 47,231,000 UTAC US 15c 25.860.000 SingTel 15c 40,538,150 Chart SemiCond 26c 17.281.000 SIA50c 35,471,225 SingTel 15c 15.374.000 Chart SemiCond 26c 21,697,787 GenlntUSIOc 14.890.000 UTACUS15c 18,566,330 GZIReit DBeCW*****6 12.192.000 Jurong Tech 10c 14,655,050 CharteredDBeCW*****0 11.739.000 SPH5,491 words
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GREATER CHINA/INDIA
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533 2005-12-24 12 The bank agreed in August to sell the stake to a Goldman private equity fund [HONG KONG] The State Council has approved in principle a controversial plan by the Industrial and Commercial Bank of China (ICBC) to sell a 10 per cent533 words
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Article2311 2005-12-24 12 VOL General Corp .0.41 0.01 108 D«t23 KM C000) Genting 30.80 0.10 434 George Kent .0.58 0.01 2 A M Realty 1.46 unch 0 GHL Systems 0.10 unch 189 Abric 0.30 unch 0 Globetronics Tech —.0.32 unch 67 ACP Industries 0.64 unch 5 GlomacBhd 1.03 0.03 114 Advance2,311 words
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Article, Illustration29 2005-12-24 12 [SHANGHAI] A group of kindergarten children posing for pictures in a shopping mall yesterday. They were taken there by their teachers for a Christmas party. REUTERSREUTERS - 29 words
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250 2005-12-24 12 Bloomberg [NEW DELHI] India's communist parties, allies of the ruling federal coalition, are opposed to the government's plan to sell residual stakes in five companies. The left parties oppose plans by the government to divest the remaining stakes in Bharat Aluminium Co, Videsh Sanchar NigamBloomberg - 250 words
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283 2005-12-24 12 Offers are preliminary and non-binding Bloomberg [HONG KONG] Asia Financial Holdings Ltd, a Hong Kong company that does insurance and banking business, said it received 12 bids for its banking unit. Malaysian businessman Quek Leng Chan's Hong Leong Bank Bhd, Bank ofBloomberg - 283 words
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352 2005-12-24 12 Research bureau forecasts higher CPI of 2% for next year Reuters [BEIJING] China's gross domestic product growth will slow in 2006 to 8.8 per cent from 9.4 per cent this year, according to forecasts by the research arm ofReuters - 352 words
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187 2005-12-24 12 Bloomberg [TAIPEI] American International Group Inc (AIG), the world's biggest insurer, is among overseas companies considering buying a stake in Central Insurance Co, the Taiwan company's shareholder Polaris Securities said. "Several foreign companies are considering taking a stake in Central Insurance, and we willBloomberg - 187 words
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ASIA-PACIFIC/WORLD
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Article451 2005-12-24 13 Casual restaurants have overtaken them in terms of revenue [NEW YORK] The American family restaurant is starving. Casual restaurants have supplanted family restaurants in terms of revenue for the first time since the US census started measuring this in the *****. The shift means the451 words
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Article, Illustration336 2005-12-24 13 NYT [BERKELEY] A California jury on Thursday ordered Wal-Mart, the world's largest retailer, to pay US$l72 million in damages for failing to provide meal breaks to nearly 116,000 hourly workers as required under state law. The verdict came after a trial that lasted moreNYT; AFP - 336 words
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436 2005-12-24 13 [SAN FRANCISCO] Google's founders may have conquered the Internet world this year but given their outsized ambitions, this may only be a start, says a report in the Financial Times. Sergey Brin and Larry Page, who were yesterday named as Men of the436 words
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298 2005-12-24 13 Reuters [SEOUL] Scientist Hwang Woo-suk captured the imagination of South Koreans with his rise from rural poverty tending cows to become a researcher of global proportions enjoying rockstar fame in his home country. Yesterday, he resigned in disgrace from his post at SeoulReuters - 298 words
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Article408 2005-12-24 13 LATEST US DATA 4.4% rise in Nov on jump in aircraft purchases Reuters [WASHINGTON] New orders for US-made durable goods surged in November on a jump in civilian aircraft purchases but nontransportation orders slid as defence outlays tumbled, government data showed yesterday. The 4.4 perReuters - 408 words
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345 2005-12-24 13 Bernama [BANGKOK] Phuket. Thailand's main tourist destination, suffered a 50 per cent drop in tourist arrivals to 2.5 million this year. As many as 4.9 million visited the island before the Dec 26, 2004 tsunami. Tourism revenue fell by 60 per centBernama - 345 words
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WORLD WATCH
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Article56 2005-12-24 13 Reuters [FRANKFURT] Ford Motor Co has injected another £1.2 billion (552.9 billion) into Jaguar Cars to cover heavy losses and investment writedowns at its British luxury car subsidiary. The move marks the second time within two years that Ford has had to recapitalise Jaguar,Reuters - 56 words
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64 2005-12-24 13 NYT [NEW YORK] A consortium of investment firms is in talks to acquire Affiliated Computer Services, a technology outsourcing company with clients that include General Electric and McDonald's, for about US$B billion, people briefed on the negotiations said. The group is ledNYT - 64 words
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Article62 2005-12-24 13 Bloomberg [NEW YORK] Wyeth, the maker of the Prevnar meningitis medicine, will pay as much as U*****.5 million for worldwide rights to a Progenies Pharmaceuticals drug that treats side effects from anaesthesia and pain killers. Progenies will get US$6O million now, and U*****.5 millionBloomberg - 62 words
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Article72 2005-12-24 13 AFP [MOSCOW] A controversial bill that restricts the activities of non-governmental organisations in Russia easily passed its third and final reading yesterday in the Lower House of parliament. The draft, attacked by the West as a threat to civil rights but defended by theAFP - 72 words
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Article63 2005-12-24 13 Bloomberg [NEW YORK] H.J. Heinz Co, the world's largest ketchup maker, will sell its New Zealand subsidiary Tegel Foods to private-equity firm Pacific Equity Partners as part of the company's plan to focus on faster-growing businesses such as sauces. Auckland-based Tegel, which operates processingBloomberg - 63 words
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Advertisement16 2005-12-24 13 Lianhe Zaobao in Hangzhou that I costs between I $200 and I $6001 per person I16 words
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SANTA AWARDS
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Article, Illustration2638 2005-12-24 14 HE'S making a list checking it twice Gonna find out who's naughty and nice Yes, it's Christmas Eve and Santa Claus will soon be sweeping through the skies, bringing presents to one and all. Wonder what he's got in store for the newsmakers of 2005? Well, stretch2,638 words
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MOTORING
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Article, Illustration630 2005-12-24 16 SAMUEL EE - So it may have been a lacklustre year as far as new models were concerned. Apart from the launch of a couple of interesting but relatively niche cars, the volume segment was uneventful in 2005. But 2006 is just around the corner and that promises to630 words
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Article, Illustration855 2005-12-24 16 SAMUEL EE - The Japanese SUV has grown bigger and gone upmarket in order to differentiate itself from the Korean competition. SAMUEL EE looks at two key examples of this trend —the new Toyota RAV4 and the Mitsubishi Outlander SAMUEL EE IN A market where sales of sport-utility vehicles have855 words
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GOLF
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Article, Illustration1022 2005-12-24 17 JUSTINE MOSS - JUSTINE MOSS looks back on a record year in terms of prize money and checks out what lies ahead JUSTINE MOSS THE end of the year is a time for reflecting on achievements, challenges, highs and lows, plus some soul searching and crystal ball-gazing asFILE PHOTO - 1,022 words
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Article, Illustration376 2005-12-24 17 GEOFFREY EU - By GEOFFREY EU AS any weekend hacker who's ever blamed a poor score on lousy golfing hardware will readily acknowledge, you're only as good as your equipment—which means that anyone who plays with Honma's new 5-star Beres golf clubs will be reasonably hard-pressed to376 words
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Page 17 Advertisements
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Advertisement807 2005-12-24 17 wine&dine with weekendBT Ah Hoi's Kitdw. Cotamn'sCah M-^K^d^^p^andp^ofeareai Traders Hotel Pooiside (above Tanglin Matt) Peninsula Excelsior Hotel, Level 5. Td: 6,*****32 Sample a wide range of delidous Asian cuisine. Le* 4.1*******13 WHte-dcaa. Ah Hoi's Kitchen features a new pictorial a ia carte menu of birthday* registrator erf mamages of 41807 words
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WELLNESS
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Article, Illustration1604 2005-12-24 18 PARVATHI NAYAR - You don't need plenty of time or expensive equipment to build up your fitness level. PARVATHI NAYAR finds out how you can make exercise an extension of your household routine PARVATHI NAYAR YOU can exercise at home. Just 10 minutes a day is all you needYEN MENG JIIN; Photo: Yen Meng Jiin - 1,604 words
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SHOPPING
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Article, Illustration1079 2005-12-24 19 CORINNE KERK - Never mind if you have run out of ideas for last-minute shopping. CORINNE KERK offers some tips CORINNE KERK Recipient: She's slightly older. She cares about her looks and is worried about her skin. Give: Clarins Super Restorative Coffret ($205), available at all Clarins outlets in major department1,079 words
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THE BUSINESS TIMES weekend
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Article, Illustration1045 2005-12-24 20 GEOFFREY EU - GEOFFREY EU looks at the master plans of a restaurateur and a designer who take the annual Christmas Eve party pretty seriously GEOFFREY EU WEE Chen Yen's Christmas season started about six weeks ago that's when she rolled up her sleeves in the kitchen to prepare about aYEN MENG JIIN; ARTHUR LEE - 1,045 words
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