The Business Times, 14 March 2009
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2009-03-14
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The Business Times
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Title Section14 2009-03-14 1 weekend THE BUSINESS TIMES MARCH 14-15,2009 Ssl.oo I AN SPH PUBLICATION MICA(P) 198/08/2008 www.businesstimes.com.sg14 words
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Article, Illustration1160 2009-03-14 1 Nisha Ramchandani - Nisha Ramchandani In a season of belt-tightening, many companies walk away from the game By nishar@sph.com.sg Singapore HUGE cutouts of Manchester United players like Cristiano Ronaldo used to stare at drivers in the Raffles Place area till recently. Insurance giant AIG has taken them downAFP - 1,160 words
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401 2009-03-14 1 Vincent Wee - Vincent Wee By vincewee@sph.com.sg Singapore THE rumours were laid to rest, but only after they had exacted their toll. Three days and some $200 million in lost market value later, Neptune Orient Lines (NOL) finally went public yesterday to state that it401 words
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Page 1 Advertisements
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Page 1 Miscellaneous
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Miscellaneous164 2009-03-14 1 J MOTORING MUf^i TRAVEL FROM THE DESK OF GOOD TIMES Pawnbroker business jumps Trend of banks tightening the screws on loans fuel 10 per cent rise in revenue at firms such as Value Max 3 TOUGH SCHOOL Raffles Education defies shock Its share price rallies despite news of an accounting164 words
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Miscellaneous6 2009-03-14 1 fT •BT LTV] 112 l^:!^i.: l!i.jkV.u'sil6 words
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TOP STORIES
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MARKETS
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Article45 2009-03-14 2 KL COMP 843.45 +5.06 NIKKEI 225 7,569.28 +371.03 HANG SENG 12,525.80 +524.27 SET 424.79 +9.75 JAKARTA 1,327.43 +17.02 MANILA 1,856.10 -23.57 KOSPI 1,126.03 -2.36 SHENZHEN B 316.16 -1.93 MUMBAI IND 8,756.61 +412.86 Nnnn EDT Chnngrp Noon EDT Change DOW 7,143.45 -26.61 NASDAQ 1,412.54 -13.5645 words
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Article29 2009-03-14 2 Bloomberg SINGAPORE 5,38 MALAYSIA 5,53 HONG KONG 5,00 INDONESIA 16,460 TAIWAN 4,826 JAPAN 1,475 KOREA 9,33 BRITAIN 0,50 US 3.25 CANADA 2,50 SWITZERLAND 0,53 INDIA 12,25 Source:Bloomberg - 29 words
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Article43 2009-03-14 2 us$ s$ US$" 1.544 "US$/ 1.391 2.147 EURO(US$/S$/E) 1.292 Foreign currency per US$, S$ 1.995 YEN 98.00 63.50 RM 3.706 2.400 HK! 7.754 5.022 BAHT 35.97 23.30 RUPIAH 11,993 7,767 RENMINBI 6.839 4.429 INDIAN RUPEE 51.70 33.48 1.527 0.989 NZ$ 1.924 1.24643 words
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895 2009-03-14 3 Chen Huifen - Chen Huifen Trend fuels 10 per cent rise in business for Value Max By xuifen@sph.com.sg Singapore BANKS are scrutinising borrowers more closely, be they businesses or individuals. Gold Kili sales manager Audrey Ho said she was shocked when, in a recent loan application for895 words
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Article, Illustration417 2009-03-14 3 Joyce Hooi - Joyce Hooi Drop is the steepest in 8 years; driven by falling vehicle sales By joyceh@sph.com.sg Singapore CONFIRMING suspicions about empty tills and dressing rooms, retail sales figures for the month of January have fallen the most in eight years according to economists, divingFILE PHOTO - 417 words
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456 2009-03-14 4 Oh Boon Ping - Oh Boon Ping ORIENTAL SCANDAL Stock rises despite accounting scandal in 30 per cent owned Oriental Century By huwenbin@sph.com.sg Singapore tal Century ceases to be a going concern, Raffles Education may need to fully write off its entire investment of $34.6 million or 1.5 cents456 words
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Article, Illustration730 2009-03-14 4 Lynette Khoo - Lynette Khoo But some market watchers are concerned over how far Singapore laws can reach non-residing management By lynkhoo@sph.com.sg Singapore THE little-known, hardly chased stock Oriental Century has this week become the latest accounting scandal casualty among Sin-gapore-listed Chinese firms or S-chips. OrientalFILE PHOTO - 730 words
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Article, Illustration498 2009-03-14 5 Anthony Rowley - Anthony Rowley In quick response, US says it will be a good steward By btworld@sph.com.sg Tokyo CHINA'S Premier Wen Jiabao has expressed concern about Beijing's massive holdings of US Treasuries and other debt securities, appealing to Washington to safeguard theirREUTERS - 498 words
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366 2009-03-14 5 AP, Reuters Bern, Switzerland THE Swiss government said yesterday it would cooperate on cases of international tax evasion, breaking with along-standing tradition of protecting wealthy foreigners accused of hiding billions of dollars in the Alpine nation. The government insisted it would holdAP, Reuters - 366 words
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233 2009-03-14 5 AP LATEST US DATA Washington THE US trade deficit plunged in January to the lowest level in six years as a deepening recession cut demand for imported goods. The Commerce Department yesterday said the trade imbalance dropped to US$36 billion inAP - 233 words
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Page 2 Miscellaneous
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Miscellaneous71 2009-03-14 2 NEWS LIVING Top stories 2-5 Design L 2-3 Raffles Conversation 6-7 Shopping L 4-6 Week In Review 8 i^^From The Desk Of 9 Companies 10^14 Singapore 15-17 ffvOkUT Letter From Abroad 18 Entertaining L 7 World 19-22 pining LB-9 Stocks stats 23-27 Travel LlO-12 Perspective 28-29 Weekend With Ll3 Wealth71 words
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Page 5 Advertisements
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Advertisement24 2009-03-14 5 31 IpLAY^ ANvays play with care. Towards Community W Ireaponslb^ Do not bet Illegally. Purpose and Benefit >^J RCB Reg No. *****0202G I POOLS24 words
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THE RAFFLES CONVERSATION
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Article, Illustration2255 2009-03-14 6 Ronnie Lim - Ronnie Lim MATTI LIEVONEN President and CEO, Neste Oil Age: 50 Education: Degree in Electrical Engineering, Institute of Technology, Kuopio, Finland 1986-Nov 2008: Worked at UPM, the world's third largest pulp and paper company. Positions held included automation manager, technical director (France), mill director (Finland and France), executiveARTHUR LEE - 2,255 words
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Article76 2009-03-14 6 Raffles Hotels Resorts The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels Resorts. A collection of luxury hotels, Raffles Hotels and Resorts distinguishes itself through the highest standards of hospitality, service and cuisine. Its hotels in Singapore, Beijing, Cambodia, Beverly Hills, Dubai and the Caribbean76 words
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WEEK IN REVIEW/WEEK AHEAD
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THIS WEEK
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45 2009-03-14 7 PRIVATE condominium and apartment subsales are on the rise as project completions put pressure on investors with weak holding power to exit the market. This year, 10,448 private homes landed and non-landed are expected to be completed.45 words
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47 2009-03-14 7 ANALYSTS have slashed their earnings forecasts following the disappointing results season that saw profit crashing in a number of Q4 reports. Total earnings posted by 229 companies for the fourth quarter of 2008 crashed 87.3 per cent to $1.51 billion.47 words
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56 2009-03-14 7 CHARTERED Semiconductor Manufacturing is raising about US$3OO million through a 27-for-10 rights offer. Temasek Holdings subsidiary Singapore Technologies Semiconductors, Chartered's major shareholder, will take up its entitlement of about 59.4 per cent of the offer and "act as standby purchaser and purchase up to56 words
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75 2009-03-14 7 In the post UOB's foray into heartland home loans UNITED Overseas Bank has tied up exclusively with Sing Post to sell HDB home loans, muscling its way into mass market mortgages that have so far been dominated by rivals DBS Bank and OCBC Bank. UOB, which had previously target- Ed75 words
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61 2009-03-14 7 THE global financial crisis has so far cost emerging Asian economies a massive US$9.6 trillion in terms of collapsing asset values, according to the Asian Development Bank on Monday. Globally, losses in the value of stocks, bonds and bank assets may amount to an61 words
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45 2009-03-14 7 MERCK Co is buying Scher-ing-Plough Corp for US$4l.l billion in stock and cash in a deal that gives the companies more firepower to compete in a drug industry facing slumping sales, tough generic competition and intense pricing pressures.45 words
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Article67 2009-03-14 7 HSBC Holdings pic, the bank that's raising £12.5 billion (5526.7 billion) in a rights offer, plunged the most in at least 23 years in Hong Kong, driven to a 13-year low by last-minute trades and concern about deepening loan losses at its US business.67 words
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Article, Illustration90 2009-03-14 7 MALAYSIAN Finance Minister Na- jib Razak has unveiled a stimulus package of RM6O billion (Ss2s billion) the country's largest ever, amounting to nearly 9 per cent of GDP over 2009 and 2010 to avert "the prospects of a deep recession". SomeBLOOMBERG - 90 words
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61 2009-03-14 7 LAS Vegas Sands hotshot William Weidner has left the company developing the Marina Bay Sands integrated resort under an apparent cloud. According to a filing with the US Securities and Exchange Commission on Tuesday, the LVS board metthe-then company president and chief operating61 words
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36 2009-03-14 7 THE Monetary Authority of Singapore (MAS) is seeking more muscle to prosecute errant financial institutions (Fls). Investors can then ride on the coat-tails of successful prosecution to get compensation.36 words
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61 2009-03-14 7 CATALIST-listed Oriental Century which is 29.9 per cent owned by the Raffles Education group disclosed on Thursday that its chairman and CEO, Wang Yuean, had admitted cooking the books for years and diverting money to an interested party. The fresh accounting scandal at the China-based61 words
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Page 7 Miscellaneous
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Miscellaneous183 2009-03-14 7 CRYPTIC CROSSWORD 21 Sounds like legal papers 27 128 Across: I Haste, 4 G strings, 8 Unfor top hotel (4) gainly, 9 Sabotage, 11 Express, 13 22 Complimentary strong Test Pilot> ls On the br'ght side> 18 Ar lr ,C(r,r Q n^t- head of Cattle (reduced 2 In the Shops,183 words
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Miscellaneous98 2009-03-14 7 NEXT WEEK Mar 16-20, '09 US DATA March T6 Feb capacity utilisation Feb industrial production March T7 Feb building permits Feb core PPI Feb housing starts March T8 Feb core CPI Current account balance Crude inventories March T9 Initial claims Feb leading indicators SINGAPORE DATA March T7 Feb merchandise trade98 words
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FROM THE DESK OF
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Article, Illustration824 2009-03-14 8 Andrew Tjioe - Andrew Tjioe I FROM THE I J DESK OF I Executive chairman, Tung Lok Restaurants For Singapore to maintain or enhance its reputation as a city with great food, players in the F&B industry must seek out innovative solutions to meet the challenges of the current economic824 words
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COMPANIES
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Article, Illustration367 2009-03-14 9 Jamie Lee - Jamie Lee It will take up to 27m rights units if issue is not fully subscribed By leejamie@sph.com.sg Singapore SINGAPORE'S largest supermarket chain NTUC Fair Price has agreed to spend as much as $22.1 million to buy up to 27 million rights unitsFILE PHOTO - 367 words
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Article516 2009-03-14 9 Lynette Khoo - Lynette Khoo By lynkhoo@sph.com.sg Singapore TWO more independent directors (IDs) at copper recycling firm Advance SCT have stepped down, citing difficulty in discharging their duties as they don't get timely information and regular updates from management. This is the second round of board changes and516 words
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400 2009-03-14 9 Uma Shankari - Uma Shankari By shankari@sph.com.sg Singapore SINGAPORE'S largest property company Capita Land yesterday said that its $1.84 billion rights issue has been over-subscribed based on initial tallies done at the close of the rights offer on March 12. "Acceptances and excess applications have been received for400 words
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405 2009-03-14 10 Ong Boon Kiat - Ong Boon Kiat It will incur restructuring charges of about US$lO million in Q3; majority of cuts from Europe and US By boonkiat@sph.com.sg Singapore CREATIVE Technology has carried out a retrenchment exercise that will slash about 300 jobs worldwide, with majority of the cuts from405 words
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Article, Illustration330 2009-03-14 10 Joyce Hooi - Joyce Hooi By joyceh@sph.com.sg Singapore ELECTRONICS group Beyonics Technology posted a 90.1 per cent drop in net profit to $383,000 for the second quarter ended Jan 31, 2009, from $3.9 million for the previous corresponding period. Revenue for the three months rose 31.1330 words
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Business briefing
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47 2009-03-14 10 KIM Eng Holdings Limited yesterday said that major shareholder Mitsubishi UFJ Securities Co Ltd has raised its stake in the company to 19.03 per cent from 18 per cent. This follows a series of open and off market transactions.47 words
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83 2009-03-14 10 IPCO International yesterday reported a net loss of $69.86 million for the third quarter ended Jan 31, 2009, compared to a net profit of $2.12 million the previous year. Total revenue plunged 73.5 per cent to $3.67 million. The group's83 words
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78 2009-03-14 10 ASIATRAVEL.COM Holdings said yesterday that it is seeing growth in the number of room nights booked despite the economic downturn, on the back of rising popularity of short-haul and intra-Asia travel. The travel company has been working with hotel partners to offer attractive78 words
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Article, Illustration650 2009-03-14 11 R Sivanithy - R Sivanithy STOCKS sivan@sph.com.sg Senior correspondent AT the start of the week, it would have been a safe bet that few in the market would have heard of Oriental Century (OC), a Chinabased education services provider (schools, colleges, kindergartens, etc) whose shares are listed650 words
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Article111 2009-03-14 11 :hina Honi 129,874 2.0 33. iolden 66,905 28.5 2.0 7.5 58,259 15 -0.5 -32 3an Joo 44,208 2.5 1.0 66.7 :hart SemiCond 42,966 13 2.5 23.8 fafflesEdu 38, ,,752 36 2.0 5.9 'oni 36,787 8.5 0.5 6. IOL 35,377 101 13.0 148 32,485 212 16.0 82 linoEnv111 words
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Article53 2009-03-14 11 CLOSE UP iBXT FTChina25 10US$ 1846 253.1 9.! IBXT Nifb 10US: 5300 114.2 1.. iLD 10US$ 9060 98.8 0." lardine C&C 980 95.0 10/ China H 10US$ 956 86.4 6.: JOB 892 65.0 7.' JOB.ES.0903 880 60.0 7.: IBS Gri 739 49.0 7.1 iBS.ES.0903 740 44.0 6.: :it>53 words
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Article55 2009-03-14 11 CLOSEDOWN iBXTS&P Short 10US$ 8690 -635.8 -4.5 iGX RB ePW*****3 27 -23.0 -46.1 )CBCCai 5.93%Pref1O 6960 -20.0 -o.: JOB RBePW*****3 122 -12.0 -9.1 iTI 1950BNPePW*****9 79.5 -11.5 -12.( JOB BNP ePW*****1 50.5 -11.0 -17.' IBS BNP ePW*****6 42 -10.0 -19.: )ssia Intl 10 -9.5 -48/ ;TI1600BNPePW*****9 28 -9.055 words
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Article100 2009-03-14 11 2.120 +0.160 litaMall 1.010 +0.030 :if 'Dev 4.840 +0.360 :osco Con 0.765 +0.075 IBS Grp 7.390 +0.490 :&N 2.260 +0.210 lent Intl 0.440 +0.015 iolden Ai ;ri 0.285 +0.020 IK Land 2.230 +0.230 IMH 17.020 +0.100 ISH 8.950 +0.150 lardine C&C 9.800 +0.950 lei Con 4.390 +0.270 Land100 words
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Article, Illustration327 2009-03-14 11 Emilyn Yap - Emilyn Yap By emilyny@sph.com.sg Singapore POPULAR Holdings, which recently raised $19.7 million from a rights issue, said yesterday that the cash has cushioned its property business from the financial downturn. But the rest of the year will be "challenging", theFILE PHOTO - 327 words
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367 2009-03-14 12 Joyce Hooi - Joyce Hooi It blames weakening economy, milk scandal, higher production, raw material costs By joyceh@sph.com.sg Singapore CHINA Flexible Packaging Holdings suffered an 86.76 per cent plunge in net profit to 5.81 million yuan (Ssl.3 million) for the first quarter ended Jan367 words
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292 2009-03-14 12 Lynette Khoo - Lynette Khoo By lynkhoo@sph.com.sg Singapore TROUBLED firm FibreChem Technologies has announced a default on a US$35 million ty"The event of default was by reason of the suspension of trading in the company's shares," it said. The US$35 million facility agreement dated Aug 18, 2006,292 words
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Article, Illustration65 2009-03-14 12 RIG builder KepFels has collected a near $1 million bonus for delivering a jack-up rig 20 days ahead of schedule, within budget and without incidents to client Mercator Offshore. The rig, Greatdrill Chetna, has been contracted to India's Oil and Natural Gas Corporation and will65 words
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321 2009-03-14 12 Jamie Lee - Jamie Lee By leejamie@sph.com.sg Singapore THINGS are not looking so bright for Sunright Ltd after it swung into a $3.38 million loss for the first six months ended Jan 31, 2009, reversing from a $4.96 million net profit posted a year321 words
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Article, Illustration670 2009-03-14 13 Reuters It wants to start brokerages in Malaysia, Vietnam and Indonesia this year, and more branches in Thailand Singapore CITIGROUP plans to start equity brokerage businesses in Malaysia, Vietnam and Indonesia this year, and is seeking more branches in Thailand in a bid to– Reuters - 670 words
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Page 10 Advertisements
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Advertisement121 2009-03-14 10 PUBLIC SEMINAR ls7 fj-#*#fss>f* on"nlsedlnr j^ mom&m£& i^l SINGAPORE-CHINABUSINESSASSOCIATION \^V SING*POREMEr*LaMOEHINERT*ssoc™ON Website: www.s-cba.org.sg Website: www.snmia.org.sg GUEST SPEAKERS The Global Financial Crisis: Lessons Learnt and the Prospects CHEN Kang Nanyang Technological University Associate Professor Division of Economics Seeing and Seizing Opportunities Amidst the Crisis Gloom yvLJ Ll Industrial and Commercial Bank121 words
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Page 12 Advertisements
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Advertisement19 2009-03-14 12 I CHARTING DIRECTIONS Place your AGM and EGM notices in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg.19 words
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Page 13 Advertisements
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Advertisement24 2009-03-14 13 SINGAPORE PRESS HOLDINGS FOUNDATION Presents jfl 1 Organised by: Event managed by: Partner: TUC Rl ICIMCCC Tlh/ICC SPH TIMES. THE BUSINESS TIMES MediaßaxOffice RfIZORTV24 words
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SINGAPORE
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404 2009-03-14 14 Chen Huifen - Chen Huifen A*Star makes new appointments, seeking to raise collaboration among research institutes By xuifen@sph.com.sg THE Agency for Science, Technology and Research (A*Star) will take a more pro-active approach to encourage cross-disciplinary research, following new appointments approved by its board yesterday. George Radda, formerly chief404 words
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210 2009-03-14 14 Vincent Wee - Vincent Wee By vincewee@sph.com.sg CONTAINER transhipment continued to slide in February, with Singapore's overall throughput down 19.8 per cent year-on-year and 6.3 per cent from January. February throughput came to 1.85 million twenty-foot equivalent units (TEUs), down from 2.31 million a year earlier and210 words
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Article, Illustration224 2009-03-14 14 Have your day in court this weekend THIS weekend, for the first time, you can take a public tour of the Supreme Court. It had moved to its new premises in June 2005. Along the way, you can try on a lawyer's robe and get a photograph taken of yourselfARTHUR LEE - 224 words
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485 2009-03-14 15 Teh Shi Ning - Teh Shi Ning By tshining@sph.com.sg WORDS such as "unprecedented" have been used to describe the financial crisis confronting today's world. But in truth, the sub-prime debt crisis that was the trigger is hardly new, says Vinod X Aggarwal. Prof Aggarwal, who is the director485 words
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407 2009-03-14 15 Lee U- Wen - Lee U-Wen Needy students to receive more financial aid during the economic downturn By leeuwen@sph.com.sg NUS will not raise its hostel rates for the coining academic year. And at SMU, students can tap interest-free loans for up to 90 per cent of407 words
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Article, Illustration339 2009-03-14 15 Victor Katheyas - Victor Katheyas By victorpk@sph.com.sg THE engagement of businesses is "crucial" in fighting terrorism, said Rohan Gunaratna, head of the International Centre for Political Violence and Terrorism Research at the S. Rajaratnam School of International Studies (RSIS). Prof Gunaratna, who was speaking to journalistsFILE PHOTO - 339 words
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610 2009-03-14 16 Arthur Sim - Arthur Sim But it will pass on the 40% property tax rebate in full to tenants By simska@sph.com.sg HAVING cost $1.71 billion to form, the Mapletree Industrial Trust (MIT) cannot afford to give its tenants the rental rebates they want. Clearing the610 words
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Article, Illustration412 2009-03-14 16 THE new Keppel Bay Sailing Academy (KBSA) is already seeing benefits from its tie-up with Clipper Round the World Yacht Race organiser Clipper Ventures, running its first Clip-per-accredited training courses last week. The academy Singapore's first and only Royal Yachting Association-ac-credited training facility is412 words
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Page 15 Advertisements
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Advertisement158 2009-03-14 15 Xg^NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 and IN THE MATTER OF ALEXANDRA ICE WORKS COMPANY (PRIVATE) LIMITED Company Regn No: *****0111H (In Voluntary Liquidation) NOTICE IS HEREBY GIVEN that the Creditors of the abovenamed Company, which is being wound up voluntarily, are required on or before158 words
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Page 16 Advertisements
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Advertisement109 2009-03-14 16 Sunday. ISthiMar.clii Auction: 1:00pm Viewing: 11:00 am OVER 500 LOTS Sapphire 9.08ct. pinfjfap7^ s*B2ct. Paraiba 11.80ct. Bracelet-Dia. 27.34 ct. GIA 3.02ct. ColorF Clarity: VSI Round GIA 2.00ct. Color D Clarity:VVSl Round GIA 2.01ct. ColorF Clarity: VS2 Round GIA" 2.20et. Color G Clarity: VS2 Square GIA" 1.20ct. Color E Clarity: VS2109 words
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LETTER FROM ABROAD WITH ASCOTT
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Letter, Illustration782 2009-03-14 17 Gabrielle Tay - Gabrielle Tay SINGAPORE has been dubbed the Switzerland of Asia on many occasions. The obvious similarities that our affluent little island shares with this country include the high concentration of banks, compulsory military conscription for its young men, and its highly efficient transport systems. Switzerland to me,AP - 782 words
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Page 17 Advertisements
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Advertisement227 2009-03-14 17 '"'lk WEEKEND SHOPPING ESCAPE PROMOTION AT ASCOTT JAKARTA, INDONESIA promotion rates fi JL> D,. STARTING FROM jT^ife*. iLr^^ Rediscover Jakarta as a shopper's paradise this weekend by staying at Ascott Jakarta, m rA right in the heart of the city's Golden Triangle. Experience the dramatic nightlife, robust IC P) F"™227 words
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Advertisement15 2009-03-14 17 THE ASCOTT GROUP A Member of Capita Land This series is brought toyou by TheAscottGroup15 words
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WORLD
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Article, Illustration364 2009-03-14 18 AP They are fighting to recoup as much as USsl.6b in losses via US lawsuit Hong Kong A GROUP of Hong Kong investors sued Lehman Brothers and HSBC in the United States in their fight to recoup as much as US$l.6 billion inAP; AFP - 364 words
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Article, Illustration241 2009-03-14 18 AFP New Delhi THE board of fallen Indian outsourcing giant Satyam met yesterday to discuss potential bidders for the company, a spokeswoman said. Three firms announced on Thursday they were interested in taking a 51 per cent stake Indian engineering giant Larsen Toubro, Indian conglomerateAFP - 241 words
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372 2009-03-14 18 AP Kuala Lumpur PROSECUTORS charged a top ruling party official with bribery yesterday, sending shock waves through Malaysia's political ranks ahead of party elections that many fear will be marred by corruption. Norza Zakaria, a member of the United Malays National Organisation party's (Umno)AP - 372 words
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Article, Illustration379 2009-03-14 19 AP It will be a boon for Air Asia, says country's airport operator Kuala Lumpur A NEW RM2 billion (*****.7 million) low-cost air terminal to be built by 2011 will make Malaysia a major regional travel hub rivaling Singapore and Thailand,AP - 379 words
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Article, Illustration368 2009-03-14 19 Bloomberg Hong Kong CATHAY Pacific Airways Ltd, Hong Kong's biggest carrier, is selling economy class tickets at "unsustainable" prices to lure travellers as demand plunged the most in more than three years last month. "The market has collapsed," chief executive officer Tony Tyler saidBloomberg - 368 words
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Article203 2009-03-14 19 Bloomberg Seoul SOUTH Korea will create a 40 trillion won (Ss4o billion) fund to buy distressed corporate bonds and assets from financial companies as it tries to prevent a recession. "We feel the need to take pre-emptive measures to prevent banks being exposedBloomberg - 203 words
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Article, Illustration495 2009-03-14 20 Reuters Bank will ride out the recession without new help from US taxpayers, he adds Boston BANK of America Corp (BOA) has been profitable in January and February and should be able to ride out the recession without new help from US taxpayers, chiefReuters; REUTERS - 495 words
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297 2009-03-14 20 Bloomberg Washington GENERAL Motors (GM), which earlier told the Barack Obama administration that it would need US$2 billion by March 31 to stay afloat, now says that it doesn't need the money, after all. "This development reflects the acceleration of GM's companywide cost-reductionBloomberg - 297 words
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353 2009-03-14 20 Reuters Washington CITIGROUP does not need any more capital injections from the government, chairman Richard Parsons said on Thursday. He also expressed confidence that Citi would remain in private hands. Asked in an interview with Reuters whether Citigroup needed more government capital injections,Reuters - 353 words
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Article, Illustration708 2009-03-14 21 Anthony Rowley - Anthony Rowley Banking body urges upcoming London meeting to tackle threat to global trading and finance By btworld@sph.com.sg Tokyo THE Group of 20 (G-20) developed and emerging nations must take urgent and forceful action at its London summit next month "to counter the potential708 words
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418 2009-03-14 21 Reuters London SWITZERLAND on Thursday broke a taboo among developed nations by trying to weaken its currency to help its economy, a policy that could trigger a wave of competitive devaluations if times get much harder. At a time when governments around the worldReuters - 418 words
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158 2009-03-14 21 Bloomberg New York THE credit crisis is thinning the ranks of AAA companies, after General Electric and Warren Buffett's Berkshire Hathaway lost top-level debt ratings on concern about losses on financial instruments. Fitch Ratings on Thursday stripped Berkshire of its AAA grade, citingBloomberg - 158 words
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Page 19 Advertisements
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Advertisement13 2009-03-14 19 TUNE YOUR RAP/O TO BEST MUSIC OWLy ON TODftY S BEST MUSIC www.radio9l3.com13 words
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Page 21 Advertisements
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Advertisement25 2009-03-14 21 Lianhe Zaobao I I Opinion: I What I MAS paper I |on sale of I 1 investment I products I I means to I investors25 words
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SGX
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Article8743 2009-03-14 22 ligh 52 ligh IZ-wks Tel Low Code Company Last Sale Vol Cooo) Day Last Quote High Low Buyer Seller Div i C'vr GrYld Net P/E M Cap Smil I 1 10 10.5 S l;5 !5 10.5 1^5 8 38 5.5 1 J 5.5 3 !8 28,743 words
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Article1601 2009-03-14 25 High Low Code Company Sale ('000) High Low Buyer Seller C'vr P/E Smil !0 5 1181 s AAGrp 12 13 8538 t APStrategic 0.5 1501 s Advanced System 4 2 3480 t Adventus !9.5 105 3518 s Afor 9 2 1524 s Alantac ?0 35 7814 s Albedo1,601 words
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Article51 2009-03-14 25 Up Down Unch 7 2 6 Up Down Unch 0 0 0 Up Down Unch 7 2 6 lulti Ind lanui Fact :unni .ommerce -inance .onst ruction 'roperties ■roi Ibtel ists >ervices led ias/ TateF I inini larr Active counters with no volume for todai are not51 words
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Article182 2009-03-14 25 STOCK PRICES LEGEND: Straits Times Index Stocks; s Catalist Non Sponsored; t Catalist; N Net or Tax-exempted dividend; ct Conditional Trdg xd ex-dividend cd cum dividend; cri cum right issue cbi cum bonus issue; xri ex-right issue; xbi ex-bonus issue xall ex-all; cdxa cum dividend ex-all co182 words
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817 2009-03-14 25 For week beginning Mar 9 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Trans Date Shareholder/ Director Sell Conv Shares '000 Per ShrS Before ('000) After ('000) itock Jnited Fiber Sys L.C.Dev Ltd L.C.Dev Ltd Equation Corp Ltd Equation Corp Ltd Iconic Hldgs Ltd Japan Land Ltd L.C.Dev817 words
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STOCK MARKETS
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364 2009-03-14 26 Mar 12 dy yr dy yr dy yr Index Change Change Change Change Change Change World Index Preliminai 562.1 0.9 -17.1 1.1 -14.6 0.8 -19.9 EAFE Preliminai 540.2 -0.2 -16.8 -0.1 -17.4 -0.3 -22.5 Euroi Preliminai 761.0 1.0 -16.5 1.1 -17.3 0.8 -22.4 Pacific 446.1364 words
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Article145 2009-03-14 26 Mar n\ :urrencies Bid >$/US$ to one unit of foreign currency: Australian dollar 1.0102 Offer Bid Offer 1.0116 0.6546 0.6549 :anadian dollar 1.2052 1.2067 0.7809 0.7813 iuro 1.9936 1.9956 1.2918 1.2920 IZ dollar 0.8017 0.8032 0.5195 0.5200 jterlini 2.1463 2.1484 1.3907 1.3909 IS dollar 1.5433 1.5446 >$/US$145 words
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Article68 2009-03-14 26 Mar J2|| IOCOA (£/tonne) Close Prey Hi! fLow >terO9 1892 1866 1909/1858 day 09 1878 1852 1892/1835 lul 09 1830 1805 1844/1794 5epO9 1803 1780 1819/1770 :OFFEE (US$/tonne) Close Pev High/Low 1arO9 1528 1422 1695/1425 lay 09 1530 1439 1739/1426 UGAR (US tonne) /hite Close Prey High/Low lay 0968 words
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Article101 2009-03-14 26 Mar J2|| iNS(! (5,000 bu min; USi /60 Ib bushels; Close i Previous High/Low darO9 899.00 875.00 900.00 875.00 day 09 882.00 862.00 884.00 859.25 lul 09 881.50 860.75 883.75 858.75 \ugO9 871.00 849.50 870.75 850.00 SOYBEAN/OIL (60,000 lbs; usq/lb) Close Previous High/Low darO9 30.11 29.64 31.00 29.55101 words
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Article74 2009-03-14 26 Mar J2|| USS/barrel (FOB origin) Close Change Brent blend (1-Mth F) WTI (Near Mth) Dubai (1-Mth F) Tapis blend Minas 43.79 -0.94 46.81 3.88 41.00 -2.04 46.40 -2.00 44.75 0.05 PRODUCT USS/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 41.90 -0.70 47.25 -1.55 USS/barrel Opec Oil Basket Price 42.7074 words
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Article69 2009-03-14 26 Mar J3\ (us; loz)_ Mar 13 Mar 12 -long Kong 915.60 906.00 916.60 907.00 Mar 12 Mar 11 .ondon 924.20 907.60 926.20 909.60 Source: Thomson Reuters SILVER Selling Buying 'assbook 1 oz 20.05 19.8 Source: UOB >LATINUM/Lon (US$/oz) Mar 12 Close Previous 'M Fix 1048.00 unch iMFix 1048.*****4.00 Source:69 words
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Article62 2009-03-14 26 Mar 13 J CLCE PALM FUTURES lelivery Opening 4onth Range (RM/MT) Sett Av Price Price Low Voi Done Open Position Hh i/larO9 \prO9 i/layO9 lun 09 2010 2040 2040 2010 1991 2022 2022 1977 1943 1972 1983 1931 1902 1930 1947 1895 Tots] o/p: ***** contracts Turnover: *****62 words
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Article72 2009-03-14 26 Mar J2| Uumlnlum, 99.7? mrity (US$/tonne' Close Previous :ash months 1306.50 1340.00 1305.01 1339.01 lopper, Grade A ;us$/tonne) lash J months 3548.50 3580.00 3558.51 3589.01 ■ead (US$/tonne; :ash 1 months 1230.00 1237.00 1263.2! 1272.01 Nickel -us: /tonne) Close Previous Cash 3 months Tin (US$/tonne; 9374.00 9455.00 9719.01 9800.0172 words
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Page 22 Advertisements
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Advertisement12 2009-03-14 22 ftl^fe^^' WHERE EXTREMES MEET "S^W^^F *> For enquiries, Tel: (65) 6238 6678 www.audemarspiguet.com12 words
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PERSPECTIVE
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Article, Illustration1021 2009-03-14 27 David M Smick - David M Smick LAT-WP Obama should name a proven, world-class problem-solver like James Baker before it is too late to salvage America from its present financial mess By PITY Barack Obama's economic advisers. The blogs are now demanding their scalps, and Treasury Secretary TimLAT-WP; STOCK.XCHNG - 1,021 words
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819 2009-03-14 27 James Kanter - James Kanter IHT By Brussels AS IF running an organisation of 27 countries wasn't complicated enough, a new position has been added at European Union headquarters: coffee monitor. Following embarrassing revelations that the European Commission had purchased 21 deluxe espresso machinesIHT - 819 words
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Wealth
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WEALTH INVESTING
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Article, Illustration1085 2009-03-14 28 Genevieve Cua - Genevieve Cua Investment firm says once financial stability is achieved, Reits should do well as their underlying cash flows remain sound. By EAL estate investment trusts are supposed to be stable assets and a core retiree holding, whose regular yield distributions help to cusha1,085 words
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Article213 2009-03-14 28 RETAIL unit trust portal Fundsupermart.com has launched an equity index representing all equity unit trusts registered for sale. The index of 228 funds FSM All-Equity Fund Index (FEFI) aims to give unit trust investors a quick barometer of how the broad retail funds market here213 words
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Article, Illustration22 2009-03-14 28 PHOTO:! Source: Green Street Advisors, Morgan Stanley and AMP Capital Redding Investors. At January 31,2009. I BLOOMBERGBLOOMBERG - 22 words
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Article761 2009-03-14 28 Jamie Lee - Jamie Lee Raffles Education BUY DBS Vickers Securities March 13 close: $0.36 ORIENTAL blues: Raffles Education's 29.9 per cent-owned associate company, Oriental Century, has sought a voluntary trading halt. It was announced that: B> Auditors had difficulties seeking the reconfirmation of the bank balance of the company; B>761 words
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Article, Illustration1186 2009-03-14 29 Albert Lam - Albert Lam WEALTH INSIGHTS Study shows dollar cost averaging strategy works when markets are at very low levels and volatility prevails Investment director IPP Financial Advisers HE word "unpreceW dented" seems to be a common theme of late. It is unprecedented that financial1,186 words
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Article, Illustration1503 2009-03-14 30 Teh Hooi Ling - Teh Hooi Ling SHOW ME THE MONEY Investors must be willing to experience short-term losses as without near-term pain, there can be no long-term gain hooiling@sph.com.sg Senior correspondent FTER what the market has gone through in the last six months, I'm not sure how manySTOCK.XCHNG - 1,503 words
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Article, Illustration1003 2009-03-14 31 Bloomberg Rising Libor shows banks still don't know if they can trust each other New York THE cost of borrowing in dollars is rising as the global recession deepens and central bank efforts to prop up the financial system fail to prevent aBloomberg; STOCK.XCHNG - 1,003 words
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WEALTH REAL ESTATE
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Article, Illustration523 2009-03-14 49 Arthur Sim - Arthur Sim Bids by educational institutions were 20-87% higher than guide rents for four sites put up for public tender By simska@sph.com.sg And a bid from Dimensions International College for the former Seh Chuan High School in Jalan Seh Chuan was 20 per centFILE PHOTO - 523 words
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224 2009-03-14 49 JONES Lang LaSalle has, for the second year running, been included in Fortune's "World's Most Admired Companies" list basically a report card on corporate reputations. The firm has again been recognised as a real estate industry leader based on criteria that include corporate224 words
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Page 32 Advertisements
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Advertisement982 2009-03-14 32 PROJECTNAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF PROJECTNAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF STREETNAME TYPE DATE AREA*(SQFT) (S$'000) (Ss) STREETNAME TYPE DATE AREA*(SQFT) (S$'000) (Ss) District 1 Kovan Melody Apt 25/02/2009 99 1302 845 649* NON-LANDED LeithGrove Apt 25/02/2009 FH 1518 600 395 TheSail@Marinaßay Apt 24/02/2009 99 678 881982 words
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Page 33 Miscellaneous
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Miscellaneous48 2009-03-14 33 I_ j^*^ jn X s^' aSw? r V 'it i' 1 I FROM TRASH H TO TREASURE 1 1 Vintage furniture makes a comeback I I 1 in innovative new guises I 1 I L 2"3 I I Burnt Black table by Nathaniel Walters at Little Red Dots48 words
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BT Living
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DESIGN
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Article, Illustration1320 2009-03-14 34 Lim Sio Hui - Lim Sio Hui Previously destined for the dustbin, vintage furniture is making a comeback in innovative new guises. By N OLD and worn-out Victorian sofa with cracking leather upholstery and sagging seats hardly sounds like a likely impulse buy for anyone, much less style guru andJOSEPH NAIR; ARTHUR LEE - 1,320 words
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SHOPPING
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Article, Illustration625 2009-03-14 35 Cheah Ui- Hoon - Cheah Ui-Hoon d-Bodhi's eco-friendly furniture venture which uses reclaimed wood is finally bearing fruit. By FORSAKING flowers for furniture, Dutch national Raymond Davids now dedicates himself to working towards creating new and modern furniture lines with reclaimed teak wood. It was tough-going when he first startedJOHN HENG - 625 words
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Article, Illustration553 2009-03-14 35 FRESH well, almost from their deal to distribute Philippe Starck's xO furniture in Asia last year, Singapore furniture company Office Planner has now moved up the design ladder to set up a company with leading designer, Karim Rashid. "It's in tune with the democratic design553 words
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Article, Illustration1115 2009-03-14 36 GIORGIO Busnelli is on a whirlwind trip through this part of the world, and it's a mixed bag that the chairman of B&B Italia is bringing back with him to Italy after three intense weeks on the road. On the one hand, things are still looking prettyARTHUR LEE - 1,115 words
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ENTERTAINING
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Article, Illustration1005 2009-03-14 37 Audrey Phoon - Audrey Phoon guest chef How do you know if an Italian chef is worth his salt? Check out his risotto. By IN MANY countries, the basic test of a good cook is whether he or she can turn out a crisp-around-the-edges, run-ny-in-the-middle sunny-side-up. But winning over Italian1,005 words
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DINING
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Article, Illustration1891 2009-03-14 38 Audrey Phoon - Audrey Phoon They may not be in the most accessible places, but these restaurants' unique surroundings and good food make up for the trip. By Donna Carmela 242 Pasir Panjang Road Pasir Panjang Village S 8200-5630 THE sun has just set, and the neon-lit barsYEN MENG JIIN - 1,891 words
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TRAVEL
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Article, Illustration1223 2009-03-14 39 Geoffrey Eu - Geoffrey Eu PHOTOS (UNLESS OTHERWISE STATED): By In this Middle East metropolis, ancient Arab tradition and 21st-century Western-style modernity come together to impressive effect. MODERN monoliths that rise up from the desert floor, shimmering in the sun like some great architectural tease to travellers from distant shores, haveREUTERS; BLOOMBERG - 1,223 words
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Article, Illustration620 2009-03-14 40 Vincent Wee - Vincent Wee Thai hospitality is as warm as ever, whether you are in Phuket or in Bangkok IF you're in the habit of nipping over to Phuket for a quick getaway, it can get a little predictable to keep going back to the620 words
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Article, Illustration565 2009-03-14 40 Jaime Ec - Jaime Ec IMAGINE, if you like, a Bangkok where you are able to breeze through Siam Paragon's immensely popular foodcourt without having to cross elbows with fellow tourists, and be able to find an empty table even at peak dining hours. Yes, the "City of565 words
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WEEKEND WITH
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Article, Illustration939 2009-03-14 41 Amanda de Guzman - Amanda de Guzman WEEKEND I WITH MICHAEL GRECO EXECUTIVE DIRECTOR FOR SALES AND MARKETING IN ASIA-PACIFIC AND JAPAN, LENOVO Michael Greco, commissioner for the Singapore Ice Dragons youth ice hockey league, sees great potential for ice hockey here despite the lack of resources. IT is safeARTHUR LEE - 939 words
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HEALTH
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Article, Illustration596 2009-03-14 42 Detox your face and body with these two newly launched treatments YOU put your right hand into a glove made for your left hand. It has a place for four fingers and a thumb, but it does not fit perfectly because your hands are mirror imagesJOHN HENG - 596 words
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Article, Illustration475 2009-03-14 42 Cheeky Chai Detox Spa Esprit at House, 8D Dempsey Rd S3 6476-0070 FANCY getting a feel of what it's like to be a human candlestick? That's what Spa Esprit at House's latest spa treatment offers, with all that wax and heat that's supposed475 words
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Article, Illustration612 2009-03-14 43 Melissa Heng - Melissa Heng In recent years, several new techniques have become available to pain sufferers. By WITH advances in pain management techniques, patients suffering from chronic or intense pain no longer have to grit their teeth and bear it. In recent years, several new techniques have612 words
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Article216 2009-03-14 43 Cheah Ui- Hoon - Cheah Ui-Hoon GLOBAL pharmaceutical giant Bayer Schering Pharma (BSP) will launch a free andropause ("male menopause") screening for men aged 40 and above, at over 120 participating GP clinics in Singapore, next Thursday. BSP manufactures erectile dysfunction (ED) drug Levitra and Nebido (the first and only long-acting216 words
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Article, Illustration557 2009-03-14 43 Cheah Ui- Hoon - Cheah Ui-Hoon THE treatment scope for lung cancer has undergone a lot of development in the last five years, with multiple drugs approved for earlier stage disease, says a clinical trial investigator who specialises in lung, head and neck cancers. "Prior to 2000, once chemotherapy failed,557 words
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SPORT
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Article, Illustration809 2009-03-14 44 Lee U- Wen - Lee U-Wen no holds barred leeuwen@sph.com.sg Correspondent THE shocking ambush attack on the Sri Lankan cricket team 11 days ago in Pakistan which killed eight people and injured seven, including six players provided a timely wake-up call that terrorism is a very real threat in sport today.REUTERS - 809 words
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GOLF
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Article, Illustration1224 2009-03-14 45 Justine Moss - Justine Moss Women's golf is clearly gaining importance in Asia, but in the current economic climate, there's no telling how the LPGA will be affected in the years to come. By THERE was some great golf on display in Singapore at Tanah Merah Country Club's1,224 words
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GADGETS
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Article, Illustration627 2009-03-14 46 Christopher Lim - Christopher Lim Speaker systems for Apple's music players are better sounding than ever, provided you don't stint. By WHEN Apple's iPod first became the de facto king of music players, any speaker system that allowed you to plug one in was cool, but rarely627 words
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MOTORING
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Article, Illustration643 2009-03-14 47 Samuel Ec - Samuel Ec In Sport mode, the Cayman S starts with a raspy growl, progressing to a boom before turning into a wail higher up the rev range. By ONE of the nicest things about the Porsche Cayman S Sport is its "sound system" but we're643 words
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Article, Illustration851 2009-03-14 48 Samuel Ec - Samuel Ec driving style Andre Roy of Wearnes shares his lifelong passion for cars and the auto industry. By ANDRE Roy has a plan. The group managing director of Wearnes' automotive division says he already has a car to suit every need. Next, he wants his customers,ARTHUR LEE - 851 words
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Page 39 Advertisements
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Advertisement43 2009-03-14 39 This series is brought to you by Emirates -^5 h 400 international awards and over 100 destinations worldwide. For more details contact Emirates on 6735 3535 or visit 600 North Bridge Road, Parkview Square #11-01, Singapore *****8. Discover frequent flyer benefits at skywards.com43 words
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Page 44 Advertisements
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Advertisement757 2009-03-14 44 wine^dine with BTWeekend Pine Court Chinese Restaurant Marina Mandarin Singapore Level 35 Orchard Wing 6 Raffles Bou evard Marina s Mentus Mandarin Singapore Peach B ossoms Levd 5, 333 Orchard Road Marina Mandarin Singapore 6831 -626^/88 a 6845 6 X Relish exquisite Cantonese cuisine Weekend Dim Sum A La Carte757 words
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