The Business Times, 21 March 2009
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2009-03-21
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The Business Times
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Title Section14 2009-03-21 1 THE BUSINESS TIMES weekend MARCH 21-22,2009 Ssl.oo I «jP*AN SPH PUBLICATION MICA(P) 198/08/2008 www.businesstimes.com.sg14 words
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Article941 2009-03-21 1 Brittany Khoo; Liew Aiqing - Brittany Khoo and Liew Aiqing Jessica Yeo, Zeinab Yusuf and Zhang Vi Ting As membership numbers take a hit, hotels fight back by offering sweeter deals By bkhoo@sph.com.sg aqliew@sph.com.sg Singapore THE popularity of hotel cards is now at a discount. After thriving on offers ofJessica Yeo, Zeinab Yusuf and Zhang Vi Ting - 941 words
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Article908 2009-03-21 1 Lynette Khoo - Lynette Khoo Why did NOL get rapped while CapitaLand did not? By lynkhoo@sph.com.sg Singapore TWO companies, two similar responses. Why did one get rapped while the other didn't? CapitaLand had declined to comment on Jan 7 when there were market rumours and a908 words
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Page 1 Advertisements
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Page 1 Miscellaneous
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Miscellaneous201 2009-03-21 1 [TRAVEL w M the raffles v PERSONAL SPACE V > New York, New York conversation *mf A tropica w harenui Lio,u tmJmX LIM BOON HENG 67 U*-i3 SALARY CUT Govt to pare civil service pay Move follows slowdown in economy, though last year's performance bonuses will still be paid out201 words
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TOP STORIES
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MARKETS
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Article46 2009-03-21 2 KL COMP 856.82 +4.64 NIKKEI 225 Closed HANG SENG 12,833.51 -297.41 SET 429.64 1.92 JAKARTA 1,360.89 +19.29 MANILA 1,833.90 +53.64 KOSPI 1,170.94 +9.13 SHENZHEN B 335.38 -3.50 MUMBAI IND 8,966.68 12 noon EDT -35.07 Chanpe 12 noon EDT DOW 7,409.00 Change +8.20 NASDAQ 1,478.45 -5.0346 words
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Article29 2009-03-21 2 Bloomberg SINGAPORE 5,38 MALAYSIA 5,53 HONG KONG 5,00 INDONESIA 16,503 TAIWAN 4,826 JAPAN 1,475 KOREA 9,33 BRITAIN 050 US 3,25 CANADA 2,50 SWITZERLAND 0,52 INDIA 12,25 Source:Bloomberg - 29 words
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Article44 2009-03-21 2 US$ (S$ per US$) 1.508 (US$/S$ per 1.458 2.198 EURO(US$/S$/E) 1.371 Foreign currency per US$, S$ 2.068 YEN 94.20 62.50 RM 3.646 2.418 7.751 5.141 BAHT 35.35 23.44 RUPIAH 11,815 7,836 RENMINBI 6.827 4.528 INDIAN RUPEE 50.13 33.24 1.445 0.959 nz: 1.780 1.18144 words
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696 2009-03-21 3 Lee U- Wen - Lee U-Wen MM Lee highlights dilemma of Singapore's low birth rate and need for talent By leeuwen@sph.com.sg Singapore ONE constant worry on Minister Mentor Lee Kuan Yew's mind these days is babies specifically, a shortage of them. The country's poor birth696 words
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Article293 2009-03-21 3 Teh Shi Ning - Teh Shi Ning By tshining@sph.com.sg Singapore THE Public Service Division (PSD) yesterday confirmed that civil servants will see a pay cut this year, given the slowdown in Singapore's economy. But last year's performance bonuses will still be paid out this month. Civil servants' annual293 words
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Article, Illustration879 2009-03-21 4 Joyce Hooi - Joyce Hooi Car lovers divided on renewing COE as prevailing quota premiums crash By joyceh@sph.com.sg Singapore CAR lovers might not agree on which cars are worth loving, but they can collectively rejoice about Prevailing Quota Premiums (PQP) hitting their lowest levels since 1991. With the PQPJOHN HENG - 879 words
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318 2009-03-21 4 Reuters Taipei TSMC, the world's biggest contract chip maker, said yesterday that it would end all unpaid leave for staff across the company from next month, the latest sign of a recovery from the sector's downturn. The decision came after TSMC sharply raised itsReuters - 318 words
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685 2009-03-21 5 Reuters, Bloomberg Edward Kelly will replace Gary Crittenden as CFO; bank slammed for plans to spend USslom on new offices for top executives New York CITIGROUP Inc, in a significant management shake-up, named Gary Crittenden to run a unit housing underperforming and toxicReuters, Bloomberg - 685 words
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Article, Illustration698 2009-03-21 5 AP Universal City, California IF TV talk shows have become a battleground where hosts and newsmakers duke it out, Jay Leno and US President Barack Obama didn't get the message. Leno queried Mr Obama about difficult issues including AlG's executive bonuses and criticismAP; REUTERS - 698 words
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Page 2 Miscellaneous
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Miscellaneous75 2009-03-21 2 NEWS LIVING Top stories 2-5 Dining L 2-4 Raffles Conversation 6-7 Shopping L 5-7 Week In Review 8 'WMmWm From The Desk Of 9 mWm*^\ Companies 10-14 AmW Singapore 15-17 Plff^llll Letter From Abroad 18 Gourmet Awards LB-9 World 19-22 Travel LlO-11 Stocks 8c stats 23-27 Home 8c Garden Ll2-1375 words
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THE RAFFLES CONVERSATION
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Article, Illustration2137 2009-03-21 6 Lim Boon Heng, Minister in the Prime Minister's Office, is a man who thinks long and hard about population and ageing issues in Singapore. Here, he shares his thoughts with Chuang Peck Ming THE one thing that Lim Boon Heng doesn't want is for SingaporeARTHUR LEE - 2,137 words
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Article76 2009-03-21 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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47 2009-03-21 7 G-20 finance ministers have agreed to a substantial increase in funds for the International Monetary Fund, Asian Development Bank and other emerging market institutions. IMF resources will double to US$5OO billion and ADB's will triple to US$l5O billion.47 words
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47 2009-03-21 7 A LARGE number of white-collar workers have lost their jobs and more degree-holders have joined the ranks of the unemployed. Job losses hit a record quarterly high in the final three months of 2008, according to the Ministry of Manpower.47 words
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48 2009-03-21 7 MORE petrochemical and chemical producers are setting up their operational headquarters in Singapore to better serve Asian markets. The latest is Japan's Mitsubishi Chemical which will move the HQ for its terephthalic acid (or TPA) business from Tokyo to Singapore in June.48 words
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75 2009-03-21 7 FINANCIAL companies that received multibillion-dollar payments owed by AIG include Goldman Sachs (US$l2.9 billion), Merrill Lynch (US$6.B billion), Bank of America (US$5.2 billion), Citigroup (US$2.3 billion) and Wachovia (US$l.5 billion). Big foreign banks also received large sums from the US rescue, including Societe75 words
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72 2009-03-21 7 THE Singapore Exchange on Tuesday issued a rare public reprimand of Neptune Orient Lines, saying the shipping group had not done enough to quell market rumours last week that it was seeking to raise US$25O million from a rights issue. The move,72 words
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45 2009-03-21 7 AS audit firms venture into more complex areas in these volatile days, their fees have gone up. Some sources say that fees could rise by as much as 10 per cent this year as audit processes become more onerous.45 words
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39 2009-03-21 7 NON-OIL domestic exports have notched another double-digit fall, suggesting the recession has deepened. In a 10th straight monthly decline, NODXtumbled 23.7 percent to $9.73 billion in February from a year ago.39 words
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Article, Illustration72 2009-03-21 7 THE hunt for a former Cortina Holdings employee who allegedly went missing with almost $8 million of luxury watches in December last year has ended. Jerry Ec surrendered at the Singapore embassy in Bangkok on Tuesday and is in Thai policeJOHN HENG - 72 words
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52 2009-03-21 7 TROUBLED Royal Bank of Scotland is selling its retail and commercial banking business in Singapore, and 660 jobs could be at stake. The semi-nationalised British bank will retain its investment banking and wholesale business in Singapore, said RBS chairman Philip Hampton52 words
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74 2009-03-21 7 IBM is in talks to buy Sun Microsystems for at least US$6.5 billion, The Wall Street Journal reported, in a deal that could bolster its computer server products against rivals such as Hewlett-Packard Co. That would translate into a premium of74 words
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50 2009-03-21 7 BUCKING the trend in other industries, recruitment in Asia's biomedical science sector remains strong despite the economic downturn, says recruitment firm ScienTec Consulting. Talent is in demand by contract research organisations, biotech firms and pharmaceutical companies setting up R&D bases in the region.50 words
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46 2009-03-21 7 THE Singapore Exchange on Thursday urged boards to step up checks on their companies' cash holdings, accounts receivables, off-balance sheet items and other "areas of heightened risks". And the results of such checks, the SGX said, should be disclosed.46 words
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61 2009-03-21 7 THE Federal Reserve said on Wednesday that it would deploy an additional US$l.2 trillion to try to lower interest rates and stimulate the economy, an aggressive move aimed at containing the recession. The central bank will increase its purchases of mort-gage-backed securities61 words
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Page 7 Miscellaneous
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Miscellaneous125 2009-03-21 7 CRYPTIC CROSSWORD 15 Painter does rendition of ,g. h rtl B Daughters single no learner driver (6) 20 He made 'Small step' with HP—^—^—^—^l—^\ pi'O'.iuonj :oxni:e '4. Iv 1.1-H'i I I :-:i-.| :nl-nt I: and larpe C\O) Count, 18 Offa, 20 Render, 21 der, 4 Usurps, 5 Tags, 6 Redolent,125 words
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Miscellaneous114 2009-03-21 7 NEXT WEEK March 23-27, 09 US DATA March 23 Feb existing home sales March 25 Feb durable goods orders Feb new home sales Crude Inventories March 26 Initial job claims Q4 GDP, final March 27 Feb personal income/spending March Michigan sentiment SINGAPORE DATA March 23 Feb Consumer Price Index March114 words
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FROM THE DESK OF
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Article, Illustration1260 2009-03-21 8 Daniel Komala - Daniel Komala With art prices down 30-40% from last year, this could be a good time to build up your portfolio and snap up the works of emerging masters FROM THE DESK OF CEO, Larasati Auctioneers A LONG-TERM client, friend and art investor asked me1,260 words
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COMPANIES
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Article, Illustration812 2009-03-21 9 Chew Xiang - Chew Xiang CORPORATE FOCUS After several failures, Jade Technologies now ventures into chemicals. Will it succeed this time around? By THERE is something surreal in the way Jade Technologies repeatedly lurches into new lines of business. In its peripatetic journey through the commercial812 words
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411 2009-03-21 9 Winston Chai - Winston Chai By winstonc@sph.com.sg Singapore AUSTRALIA'S New South Wales Supreme Court yesterday ruled in favour of Singapore Telecommunications' Australian subsidiary Optus in its licensing dispute with movie content provider TMNC (The Movie Network Channel). TMNC, a supplier of movie channels to the Australian operator's411 words
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Article, Illustration224 2009-03-21 10 Jamie Lee - Jamie Lee It has recovered and identified 230 watches worth about $4.6m By leejamie@sph.com.sg Singapore CORTINA Holdings has recovered almost 60 per cent of the maximum $7.9 million that it expected to lose after a stash of watches and thousands of dollars in224 words
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185 2009-03-21 10 THE Straits Times School Pocket Money Fund has received a donation of $100,000 from top achievers of life insurance company Great Eastern. The amount came from top achievers who chose to forgo recognition advertisements in newspapers. "Despite the challenging year ahead, they have not185 words
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Article, Illustration688 2009-03-21 11 R Sivanithy - R Sivanithy STOCKS sivan@sph.com.sg Senior correspondent To some observers, it's been a boring week prices drifting in thin volume with not much in the way of excitement or good news. On the contrary, we think it's been a wonderfully exciting five days, especially for688 words
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Article116 2009-03-21 11 VOL aOSE Golden Aj 56,990 27.5 0.0 0.0 :hina Honi <ins 56,061 0.0 0.0 >ino-Env 35,240 15 6.0 66.7 :hart SemiCond 30,362 10.5 0.5 5.0 fanlord 28,732 99 3.0 3.1 in ;Tel 27,620 244 -1.0 -0.4 BtraitsAsia 25,941 845 3.5 4.3 ;lobal Voice 22,826 1.5 -0.5 -25.0116 words
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Article101 2009-03-21 11 :apitaLand 2.030 -0.050 ]apitaMall 1.120 +0.020 :if 'Dev 5.030 +0.020 ]osco Con 0.740 +0.005 IBS Gn 7.750 +0.040 :&N 2.290 -0.010 lent Intl 0.450 iolden Ai ;ri 0.275 IK Land 2.120 -0.020 IMH 18.000 +0.400 ISH 10.280 +1.000 lardine C&C 9.990 +0.390 lei Con 4.450 +0.080 >el Land101 words
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Article58 2009-03-21 11 BY CENTS UP CLOSE DBXT Nift 10US$ 5620 482.4 6.0 GLD 10US$ 9475 465.8 3.4 DBXT S&P Short 10US$ 8330 180.9 1.5 ISH 1028 150.8 10.8 IMH 1800 60.3 2.3 OCBC Bk.ES.0903 446 44.0 10.9 lardine C&C 999 39.0 4.' UOB 5.05%NCPS 100 9100 30.0 0.3 STXPO 10058 words
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Article54 2009-03-21 11 CLOSEDOWN iBXT FTChina25 10US$ 1890 -60.3 -2.China H 10US$ 983 -30.2 -2.1 )CBC Bk 4.5%NCPS 100 8000 -30.0 -0 'enture Con 455 -17.0 -3.i :erebosPac 236 -14.0 -5.i IOB.ES.0903 923 -14.0 -1.: JOB BNP ePW*****8 91 -13.0 -12.! Creative Tech 333 -12.0 -3. iGX RB eCW*****5 3.5 -11.054 words
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Article373 2009-03-21 11 Angela Tan - Angela Tan By angelat@sph.com.sg Singapore SEE Hup Seng's executive director and chief executive officer Yap Sew, who last year was ordered to pay a $50,000 civil penalty for insider trading when he was a consultant of the company, has resigned. The company, which decided to373 words
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Article363 2009-03-21 11 EMILYN YAP - EMILYN YAP By emilyny@sph.com.sg Singapore LESS than six years after its listing on the Singapore Exchange main board, media storage product maker Agva Corporation is calling it quits in a voluntary delisting approved in-principle by the exchange yesterday. A manufacturer of laptop cases, CD363 words
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Article, Illustration552 2009-03-21 12 Kalpana Rashiwala - Kalpana Rashiwala Building of Madison Residences also delayed by current market conditions By kalpana@sph.com.sg Singapore KEPPEL Land is deferring construction of the highly touted Marina Bay Suites (in which it has one-third stake) as well as Madison Residences in Bukit Timah, citing "currentMARINA BAY FINANCIAL CENTRE - 552 words
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Article, Illustration363 2009-03-21 12 Joyce Hooi - Joyce Hooi By joyceh@sph.com.sg Singapore SINO-ENVIRONMENT Technology has denied any knowledge of the reasons behind the 66.7 per cent spike in its share price during trading yesterday. In response to a query by the Singapore Stock Exchange (SGX) yesterday, it said: "We areBloomberg - 363 words
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Article209 2009-03-21 12 Uma Shankari - Uma Shankari By shankari@sph.com.sg Singapore UOL Group said yesterday it sold a unit in its new project Double Bay Residences to Anna Gwee Lay Peng, niece of UOL director and chief executive Gwee Lian Kheng, for $878,820. Except for a 3 per cent "early209 words
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227 2009-03-21 12 HUGE losses, liquidity problems and loan covenant breaches indicate material uncertainty that may cast "significant doubt" over Huan Hsin Holdings' ability to continue as a going concern, its auditors said. Deloitte Touche issued an unqualified audit opinion on Huan Hsin's financial statements for the year227 words
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438 2009-03-21 13 Teh Shi Ning - Teh Shi Ning Australia's takeovers panel has ordered it to seek shareholders' nod for deal with Whitehaven Coal By tshining@sph.com.sg Singapore AUSTRALIA'S takeovers panel yesterday ordered Gloucester Coal to seek shareholders' approval on its proposed merger with Whitehaven Coal, further boosting Noble Group's efforts438 words
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344 2009-03-21 13 Jamie Lee - Jamie Lee By leejamie@sph.com.sg Singapore OFFSHORE oil and gas drilling and services company Jasper Investments may post a fourth-quarter loss as a result of lower revenue and issues over a loan by one of its units. Jasper said yesterday that its unit344 words
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Page 10 Advertisements
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Advertisement418 2009-03-21 10 THE MONETARY AUTHORITY OF SINGAPORE 1 TENOR APPROXIMATELY 5 YEARS TOTAL AMOUNT OFFERED SGD 800,000,000 MINIMUM DENOMINATION SGD 1,000 MAS' INTENDED TENDER AMOUNT NIL (NON-COMPETITIVE) ISSUE CODE NXO4I OOF (REOPENED) ISINCODE 5G********** I ISSUE DATE/SETTLEMENT DATE 1 APRIL 2009 MATURITY DATE 1 JULY 2014 COUPON RATE 3.625% P.A YIELD AND418 words
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Page 12 Advertisements
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Advertisement70 2009-03-21 12 NOTICE I, Unmish Parthasarathi (divorcee), of #04-02 Chiltern Park, 131 Serangoon Ave 3, Singapore *****2, intend to marry Shilpa Karia (single) of Flat 3, Mansfield Heights, Great North Road, London N2 ONY, UK at The Villas Bali, Jalan Kunti 118X, Seminyak, Bali, Indonesia on 27th April 2009. Any person knowing70 words
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Page 13 Advertisements
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Advertisement34 2009-03-21 13 I Presents #IfirH'l'H^'MM^ lULI'm .A m\- /l^i^%^mtKmw\r^S%^^BkrSam9»i MU By^ J^ MM\ ir~^Mw M\, ~MMWm\ a\W*^ Mm I ~^!m^& 7-m H I W aU Organised by: Event managed by: Partner: THE BUSINESS TIMES SHhßAonki gggSStS34 words
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SINGAPORE
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Article, Illustration551 2009-03-21 14 Lee U- Wen - Lee U-Wen He also called for deeper US economic engagement, not just with China and India, but with the rest of Asia as well By leeuwen@sph.com.sg AS THE world's biggest economy, the US has a special role and a responsibility to champion globalFILE PHOTO - 551 words
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338 2009-03-21 14 Nisha Ramchandani - Nisha Ramchandani By nishar@sph.com.sg THE need for anti-protectionism and clearer regulatory frameworks are just some of the suggestions that the Asia-Pa-cific Council of American Chambers of Commerce (APCAC) will highlight to the Obama administration with regard to US-Asia relations. APCAC, which represents 27 American chambers338 words
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Article, Illustration383 2009-03-21 15 Victor Katheyas - Victor Katheyas It forecasts rate to peak at 6-7%, revises 2009 GDP growth outlook to -6% from -3% By victorpk@sph.com.sg MACQUARIE Research expects Singapore's overall unemployment rate to peak at 6-7 per cent later this year. This is worse than during the electronics bust ofAFP - 383 words
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Article, Illustration296 2009-03-21 15 Brittany Khoo - Brittany Khoo By bkhoo@sph.com.sg SBS Transit, SMRT Corporation, the National Transport Workers' Union (NTWU) and the Employment and Employability Institute (e2i) are moving to attract more workers to the public transport industry as it grows despite the economic downturn. Yesterday, they held an inaugural jointLIANHE ZAOBAO - 296 words
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214 2009-03-21 15 SINGAPORE needs to manage the higher amount of energy required to produce desalinated water compared with taking water from conventional sources, Environment and Water Resources Minister Yaacob Ibrahim said yesterday. "Although desalinated water and Newater have afforded enhanced water security, they are more214 words
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Article, Illustration285 2009-03-21 16 THE Singapore Management University (SMU) has established the Sing Lun Scholarships, Sing Lun Fellowship and Sing Lun Seminar Room with a $1 million gift from Patrick Lee, chairman of Sing Lun Investments, and his family. Mr Lee's donation is in honour of his lateFILE PHOTO - 285 words
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554 2009-03-21 16 Lynette Khoo - Lynette Khoo It's slightly underweight equities; says rally in government bond markets is unsustainable By lynkhoo@sph.com.sg FORTIS Investment Management Group analysts say they favour Asian bonds in the medium term and are slightly "underweight" equities, assuming that an economic bottom is to be554 words
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Article, Illustration255 2009-03-21 16 AFP Berlin THE European Union (EU) is poised to alter its South-east Asia trade policy to deal with individual members of the Asean trade alliance rather than with the bloc as a whole, a senior official said yesterday. The German daily HandelsblattAFP - 255 words
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259 2009-03-21 16 THE Hong Leong Group yesterday pledged to turn off lights at all its buildings in Singapore during Earth Hour next Saturday. A total of 25 local buildings, hotels and offices belonging to City Developments Limited (CDL), Hong Leong Holdings, Millennium Copthorne International259 words
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Page 14 Advertisements
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Advertisement29 2009-03-21 14 WjiHMJ JACKPOT I 1,500,000. This Monday! IpLAY^ ANvays play with care. Towards Community W Ireponsib^ Do not bet Illegally. Purpose and Benefit >^J RCB Reg No. *****0202G I POOLS29 words
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Page 16 Advertisements
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Advertisement348 2009-03-21 16 >g^NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF TUAS POINT DEVELOPMENT PTE LTD Co. Registration No. *****6089G IN MEMBERS'VOLUNTARY LIQUIDATION At an Extraordinary General Meeting of the above named Company held at Blk 123 Hougang Ave 1 #01-1416, Singapore *****3 on the 17th348 words
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LETTER FROM ABROAD WITH ASCOTT
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Article, Illustration662 2009-03-21 17 Heng Yih Wen - Heng Yih Wen WHEN the offer of an international assignment came my way as part of KPMG's Global Opportunities programme, it was way too attractive to refuse. After much anticipation of what it would be like venturing out of my comfort zone into a foreignREUTERS - 662 words
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Page 17 Advertisements
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Advertisement202 2009-03-21 17 SOMERSET JADAF, DUBAI "if —"W DEFINING BALANCED LIVING IN DUBAI CITY. promotional daily rates m m |J "Tli At Somerset Jaclaf, modern amenities, stylish spaces and attentive services iZJT^Lr s.jSw^' ™"^T*{\ld W come together in a perfect blend of comfort, convenience and cultural charms. A P l""\ ™7 lu' SBPiififw202 words
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Advertisement14 2009-03-21 17 THE ASCOTT GROUP A Member of CaprtaLand This series is brought toyou by TheAscottGroup14 words
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WORLD
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Article, Illustration452 2009-03-21 18 Bloomberg Deepening global slump cited, but economy is expected to grow more strongly in 2010 Beijing THE Organisation for Economic Cooperation and Development (OECD) may cut its forecast for China's economic growth this year to as little as 6 per cent becauseBloomberg; REUTERS - 452 words
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Article, Illustration237 2009-03-21 18 Reuters Mumbai TATA Motors will launch the much awaited Nano, slated to be the world's cheapest car at less than US$2,OOO, on Monday but it may be the middle of the year before it is seen on Indian roads. The formal launch comes 15Reuters; AFP FILE PHOTO - 237 words
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312 2009-03-21 18 AP Taipei A PROPOSED trade pact with Taiwan could open the door to Chinese investments on the island, working to the mainland's advantage, a senior Taiwanese official said yesterday. The comment by Minister Chen Tain-jy of Taiwan's Cabi-net-level Council for Economic PlanningAP - 312 words
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Article, Illustration408 2009-03-21 19 Reuters They are making it easier for banks to convert between foreign currencies Shanghai CHINA has drafted rules making it easier for banks to convert foreign currency holdings into other foreign currencies, official media reported yesterday, a move which some dealers said might eventually leadReuters; REUTERS - 408 words
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443 2009-03-21 19 Pauline Ng - Pauline Ng ay btworld@sph.com.sg Kuala Lumpur IN the current push to increase the transparency of tax havens suspected of complicity in the global financial meltdown, Malaysia's Labuan International Business and Financial Centre (IBFC) believes it has found a new edge in its "clean" status.443 words
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209 2009-03-21 19 Reuters New Delhi/Singapore NATURAL gas production from massive new fields offshore India will likely mean the beginning of the end for an upbeat Asian naphtha market, as local power and fertiliser firms switch to the cheaper fuel. Reliance Industries' Krish-na-Godavari Basin gas, dueReuters - 209 words
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Article, Illustration305 2009-03-21 20 Bloomberg Architect of Sweden's 1990s bank rescue says they can be privatised later Stockholm The US and other governments should consider nationalising banks in a bid to bring to an end the deepening financial crisis, Bo Lundgren, the architect of Sweden's 1990s bankBloomberg; AFP - 305 words
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Article, Illustration429 2009-03-21 20 Reuters, AFP Brussels EUROPEAN Union leaders yesterday agreed to provide 75 billion euros (*****.2 billion) in new loans to the International Monetary Fund as part of a G-20 effort to boost the lender's firepower for fighting global recession. The leaders also agreed at aReuters, AFP - 429 words
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366 2009-03-21 20 Reuters Moscow CHINA and other emerging nations back Russia's call for a discussion on how to replace the dollar as the world's primary reserve currency, a senior Russian government source said on Thursday. Russia has proposed the creation of a new reserveReuters - 366 words
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Article, Illustration485 2009-03-21 21 NYT It will guarantee payment to cash-strapped suppliers who employ 500,000 people Detroit THE Obama administration moved on Thursday to stabilise the American auto industry by creating a US$5 billion fund to support troubled parts suppliers. The Treasury Department said the programme wouldNYT; BLOOMBERG - 485 words
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419 2009-03-21 21 Reuters London THREE of the world's biggest banks on Thursday embarked on fresh steps to boost their balance sheets, as governments moved to crack down on excesses that may have fuelled the global credit crisis. The moves by HSBC Holdings pic, CitigroupReuters - 419 words
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384 2009-03-21 21 AFP Washington US President Barack Obama yesterday launched a historic direct appeal to the Iranian people, urging an end to decades of animosity and offering "honest" engagement with the Islamic Republic. "My administration is now committed to diplomacy that addresses the full range ofAFP - 384 words
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Page 19 Advertisements
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Advertisement13 2009-03-21 19 TUNE VOUR RAP/O TO BEST MUSIC owLy ow TODfIY S BEST MUS:C www.radio9l3.com13 words
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Page 21 Advertisements
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Advertisement31 2009-03-21 21 Lianhe Zaobao Iflow to I invest I against I I the adverse I I market I I conditions? I Don't miss Zaobao's 8 pages of special features on property I *ntir&sifjj£9gffl±?31 words
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SGX
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Article8322 2009-03-21 22 SZ-wks Tel ligh Low Code Company Last Sale Vol (f)O0) Day Last Quote High Low Buyer Seller Div GrYld Net C'vr P/E M Cap Smil I 3 3148 8Telecom 1 2.5 5834 A-Sonic 10.5 12 5000 ABR Hldgs S 6 1938 AEI Corp 1:5 1 11008,322 words
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Article1721 2009-03-21 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 co cum offer1,721 words
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Article46 2009-03-21 25 Up Down Unch 5 4 4 Up Down Unch OOP Up Down Unch 5 4 4 lulti Ind lanui tectiinni .ommerce -inance .onst ruction jerties Totel Sts" >ervices led >as/ ler ;ure larr Active counters with no volume for todai are not included46 words
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Article39 2009-03-21 25 MAIN SDQ TOTAL MAIN SDQ TOTAI lulti Ind 25,679 25,679 64,063 64,063 lanui l~acturiri) .ommerce -inance .onstruction Yo\ >erties lotel ists >ervices led 'ater linini iiiarr Sini forei't stocks. Value calculated usini Monda} ''s excban^ rates.39 words
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Article847 2009-03-21 25 For week beginning Mar 16 Trans Date Substantial Shareholder/ Director Buy Sell Conv No of Shares '000 Price Per ShrS Before ('000) After ('000) itock Hiap Moh Corp Ltd 19-Mar-09 Michael Wee Soon Lock Hiap Moh Corp Ltd 19-Mar-09 Ng Kah Lin Hiap Moh Corp Ltd847 words
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Advertisement14 2009-03-21 22 #^^feii:' WHERE EXTREMES MEET '£tM L"; "^^^^^j^^i^ For 9nPuirißsi Tel: (65) 6238 6678 www.audemarspiguet.com14 words
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MARKETS
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364 2009-03-21 26 Mar 19 dy yr dy yr dy yr Index Change Change Change Change Change Change World Index Preliminai 597.2 -0.1 -11.9 0.7 -8.5 2.1 -12.5 EAFE Preliminai 567.8 0.5 -12.5 3.6 -9.8 5.1 -13.7 Euroi Preliminai 784.2 0.7 -14.0 3.9 -10.7 5.4 -14.6 Pacific 486.7364 words
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Article145 2009-03-21 26 Mar2o| :urrencies Bid >$/US$ to one unit of foreign currency: Australian dollar 1.0429 Offer 1.0434 Bid 0.6918 Offer 0.6919 :anadian dollar 1.2216 1.2228 0.8104 0.8109 iuro 2.0672 2.0681 1.3713 1.3714 IZ dollar 0.8463 0.8473 0.5614 0.5619 jterlini 2.1973 2.1987 1.4576 1.4580 IS dollar 1.5075 1.5080 >$/US$ to145 words
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Article68 2009-03-21 26 ^^^Mr^l 1 (£/tonne; Close I Prev Hii now day 09 1921 1901 1929/1879 lul 09 1874 1855 1884/1832 5epO9 1851 1835 1858/1808 )ecO9 1818 1805 1830/1787 :OFFEE (US$/tonne) Close Pev High/Low 1arO9 1550 1522 1551/1551 lay 09 1565 1537 1588/1555 UGAR (US tonne) /hite Close Prey High/Low lay 0968 words
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Article97 2009-03-21 26 ^^^Arr^II SOYBEANS (5,000 bu min; USc/60 Ib bushels) Close Previous High/Low May 09 940.50 915.00 952.75 928.25 JulO9 940.00 911.75 951.50 926.00 AugO9 927.25 896.00 937.00 908.00 SepO9 902.75 868.00 910.00 877.00 SOYBEAN/OIL (60,000 lbs; usq/lb) Close Previous High/Low May 09 31.89 30.92 32.50 31.31 JulO9 32.16 31.1997 words
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Article77 2009-03-21 26 Mar i H :rude ISS/barrel (FOB origin) Close Change Srent blend (1-Mth F) VTI (Near Mth) )ubai (1-Mth F) 'apis blend /linas 49.69 2.79 51.13 1.73 47.64 1.62 51.45 0.80 50.45 1.10 •RODUCT ISS/barrel (FOB Spore) Close Change \l aphtha let Kerosene 46.50 0.85 53.90 0.85 JSS/barrel )pec Oil77 words
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Article65 2009-03-21 26 ^^^^aT^ol loz] lar lar -long Kong 927.00 956.50 928.00 957.50 Mar 18 Mar 19 .ondon 890.70 953.80 892.20 955.80 Source: Thomson Reuters SILVER Selling Buying 'assbook 1 oz 20.57 20.33 Source: UOB >LATINUM/Lon (US$/oz) Mar 19 Close Previous 'M Fix 1087.*****4.00 M Fix 1055.*****0.00 Source: Thomson Reuters M.ATINUM /NYMEX65 words
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Article58 2009-03-21 26 Mar2o\ lelivery fonth Opening Range Sett Price Av Price Low Vol Done Open Positioi Hi) \prO9 i/layO9 lun 09 lul 09 2028 2080 2080 2025 338 359E 1984 2035 2036 1977 3747 2278S 1927 1985 1985 1914 ***** 2798C 1877 1940 1940 1870 3709 ***** Total o/p: *****58 words
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Article66 2009-03-21 26 Mar tluminium, 99.75" mrity (US$/tonne; Close Previous lid /tonne; lose ■revious Cash 3 months Tin (US$/tonne; 9922.00 *****.00 9791.01 9875.01 :ash 1 months :opper, Grade A 1426.75 1463.00 1342.75 1379.00 ;us$/tonne) lash J months ■ead (US$/tonne; 3963.00 3999.00 3720.75 3756.00 Cash 3 months Zinc, Special Hi; *****.00 *****.0166 words
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PERSPECTIVE
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Article, Illustration1058 2009-03-21 27 Allein G Moore - Allein G Moore During a downturn, when people think twice before spending, strength of the brand is critical. It's also a chance to reinforce the brand and build market share By ID you prepare for the recession? I don't mean by H unloading shares beforeREUTERS - 1,058 words
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Article866 2009-03-21 27 David Brooks - David Brooks NYT By New York YOU'D think if some tiger were lunging at your neck, your attention would be riveted on the tiger. But that's apparently not how it works in the age of global ADD (attention deficit disorder). As a tiger sinks its teeth intoNYT - 866 words
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Wealth
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WEALTH INVESTING
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Article, Illustration975 2009-03-21 28 Linda Stern - Linda Stern Reuters Here are some principles that can help you develop a new investment philosophy for turbulent times By HE past year's stock y market rout has dis- credited many investment gurus and their philosophies. Among the previously successful but rel^^^^^m cently shamed strategies are: LookReuters; AP - 975 words
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Article742 2009-03-21 28 Jamie Lee - Jamie Lee Property sector Neutral OCBC Investment Research March 17 STRONG recovery in February property sales: February sales of non-landed property (NLP) reached their highest level since August 2007, with a total of 1,059 NLP units launched and 1,305 NLP units sold in the month. Sales were largely742 words
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Article, Illustration1186 2009-03-21 29 Ben Fok - Ben Fok WEALTH INSIGHTS Confusion arises when investors fail to distinguish "compound interest" from "compound returns" CEO, Grandtag Financial Consultancy (S) LAST month, I had a discussion with a disgruntled investor about his investment portfolio. He claimed that the concept of compounding in investments in stocks andSTOCK.XCHNG - 1,186 words
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Article63 2009-03-21 29 The impact of dispersion and negative returns on 4 portfolios Year! 8% $10,800 1% $10,100 30% $13,000 50% $15,000 Year 2 QO/ o/b $11,664 13% $11,413 24% $16,120 24% $18,600 Year 3 QO/ o/b $12,597 10% $12,554 -30% $11,284 -50% $9,300 Simple average QO/ o/b 8% 8%63 words
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Article, Illustration1086 2009-03-21 30 Teh Hooi Ling - Teh Hooi Ling SHOW ME THE MONEY During bear periods, investors are loath to inject money into a stock that is likely to be worth less in a month or two hooiling@sph.com.sg Senior correspondent ARELY four months inA to the year, companies listed on theFILE PHOTO - 1,086 words
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Article, Illustration699 2009-03-21 31 Reuters Some cite contradiction in clients' argument for simpler products and the need for capital protection Luxembourg FUND managers are struggling to come up with new ideas to win back clients following the mayhem in financial markets over the past 18Reuters - 699 words
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373 2009-03-21 31 Oh Boon Ping - Oh Boon Ping By INDEX investing appears to be back in vogue, and new products could be rolled out in the next few months, says French bank Societe Generale. Amid the current financial turmoil, it sees growing demand in Asia for specialist index investing373 words
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WEALTH REAL ESTATE
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Article, Illustration683 2009-03-21 33 Uma Shankari - Uma Shankari Landords' priority now is to retain tenants as they feel impact of slowdown, say analysts. By PRIME Orchard Road rents could fall about 15-20 per cent this year, says a new report by CB Richard Ellis (CBRE). Property analysts have cutFILE PHOTO; :CßßE Research - 683 words
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Page 32 Advertisements
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Advertisement934 2009-03-21 32 t^vi^M.^msmmmmmmmmmamsmsmmmmmmm PROJECTNAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF PROJECTNAME/ PROP CONTRACT TENURE BUILT-IN/LAND PRICE PSF STREETNAME TYPE DATE AREA*(SQFT) (S$'000) (Ss) STREETNAME TYPE DATE AREA*(SQFT) (S$'000) (Ss) District 1 District 18 NON-LANDED LANDED The Sail Marina Bay Apt 03/03/2009 99 592 700 1182 Theßiverina 3-Ter 02/03/2009 99 2650 1070 404934 words
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Page 34 Miscellaneous
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Miscellaneous20 2009-03-21 34 FEELING THE PINCH The changing face of Singapore's fine dining scene as top restaurants cope with the recession L 2-420 words
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BT Living
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DINING
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Article, Illustration2286 2009-03-21 35 Jaime Ee - Jaime Ee 'People are very much more aware of how they are spending. They want to appear to be saving money. If s cool to be thrifty if s the new trend.' Beppe De Vito (below), II Lido Singapore's top restaurants have not been spared the current2,286 words
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Article, Illustration888 2009-03-21 36 Jaime Ee - Jaime Ee Consider it the upside of a downbeat economy you can now treat yourself to value-for-money deals at high-end restaurants. By Hua Ting Orchard Hotel, 442 Orchard Road S3 6739-6666 THE premier Chinese restaurant is offering specially priced set lunch and dinner menus at $42++888 words
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SHOPPING
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Article, Illustration483 2009-03-21 37 Melissa Lwee - Melissa Lwee FASHIONISTAS in London and Paris have long looked to Kokon to Zai a über-hip retail concept for cut-ting-edge clothing inspiration. The shops once known as fashion's biggest hidden gems have for many years served as a stepping stone for483 words
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Article, Illustration539 2009-03-21 37 Melissa Lwee - Melissa Lwee BT checks out the latest international brands conning to town to steal Singaporean hearts Modern, funny and very Parisian FROM Paris with love comes a new brand dedicated to the young fashion lover AB irato. Started by Alexandre Miel and Benjamin Moureau, the label's name stems539 words
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Article, Illustration419 2009-03-21 38 Cheah Ui- Hoon - Cheah Ui-Hoon FASHION-sawy men who feel they have been overlooked by Singapore retailers can look forward to a Z Zegna boutique here when lon Orchard opens. Parent company Ermenegildo Zegna may be known for its exquisite fabrics and formal suits, but Z419 words
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Article, Illustration705 2009-03-21 38 Corinne Kerk - Corinne Kerk ILL-FITTING bras that create unsightly lumps of flesh on the back and around the chest can be a thing of the past if a newly-arrived lingerie brand really works as it claims. Bradelis, a premium brand of custom-fit lingerie designed and705 words
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Article, Illustration800 2009-03-21 39 Melissa Lwee - Melissa Lwee Petar Petrov Available at Blackjack #01-10 Forum The Shopping Mall S 6735-0975 WOMEN who like juxtaposition in their fashion will appreciate the designs from Petar Petrov. Although previously better known for his menswear collections putting on a regular show during Paris Men's fashion800 words
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GOURMET CHOICE AWARDS
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Article, Illustration323 2009-03-21 40 PHOTOS BY THE notion of good food and good company could not have been more obvious at The Business Times-Citibank Gourmet Choice Awards presentation on March 11 where Singapore's top 50 restaurants were honoured in a fun-filled evening that saw some 400 people enjoying food specially prepared byJOHN HENG - 323 words
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TRAVEL
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Article, Illustration1245 2009-03-21 41 Geoffrey Eu - Geoffrey Eu Of all the Downtown districts, SoHo (above) is, after Greenwich Village, perhaps the best known, and the first neighbourhood that visitors in search of that special Downtown atmosphere will gravitate towards. That's where you'll find the Big Apple's hip and happeningBLOOMBERG - 1,245 words
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HOME & GARDEN
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Article, Illustration1168 2009-03-21 42 Geoffrey Eu - Geoffrey Eu personal space New Zealand High Commissioner Martin Harvey and his wife Sarah consider their residence here to be a second home for fellow Kiwis living in Singapore. By DIPLOMATIC posting isn't always about representing your country, interacting with other civil servants and conducting high-powered negotiationsJOHN HENG - 1,168 words
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GADGETS
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Article, Illustration1080 2009-03-21 43 Christopher Lim - Christopher Lim Apple's smallest player supports high-fidelity music, but courts controversy with minimal controls. By THE iPod Shuffle has long endeared itself to audio fanatics for its excellent audio quality, but the latest iteration of Apple's tiniest music players finally fulfils its true potential. The new third-generation model1,080 words
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HEALTH
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Article, Illustration766 2009-03-21 44 Cheah Ui- Hoon - Cheah Ui-Hoon A muscle training centre with a difference has just moved into town. By Kieser Muscle Training Centre Singapore Land Tower, #01-02A S 6323-3933 STRENGTH training might sound like what athletes do, but it is not just for them. In fact, call it "muscle therapy", as766 words
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514 2009-03-21 44 Cheah Ui- Hoon - Cheah Ui-Hoon MODIFIED versions of the Japanese 'onsen' experience have come to Singapore's shores in the form of a steam bath and a "bubbly" one. And it's not for relaxation alone, as both are supposed to have therapeutic elements for overall wellness benefits, say514 words
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SPORT
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Article, Illustration900 2009-03-21 45 Naveen Verghese - Naveen Verghese no holds barred naveen@sph.com.sg Executive Sub-editor FRENCH football wizard Zinedine Zidane was widely reported last week as saying that Liverpool captain Steven Gerrard is the best player in the world. Zidane is not exactly known for speaking his mind and so900 words
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GOLF
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Article, Illustration1469 2009-03-21 46 Justine Moss - Justine Moss According to a recent study, over-thinking during performance can have negative results Sports psychologists and professional golfers concur. By IN CASE both pro golfers and amateur hackers don't already know, a study that was completed earlier this year by a group ofREUTERS - 1,469 words
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MOTORING
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Article, Illustration606 2009-03-21 47 CY Chew - CY Chew Michelin's Primacy LC delivers a quiet ride, fuel efficiency and wet-weather safety. By GRIP versus rolling resistance. Larger contact patch versus wet weather performance. Properties you would assume are mutually exclusive. At the launch of the new Michelin Primacy LC in Pattaya, Thailand, last week,606 words
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Article, Illustration765 2009-03-21 48 Samuel Ee - Samuel Ee Lots of space, good performance, fuel economy the Captiva Diesel offers all these and more. By A DIESEL-POWERED car is hardly the first thing a prospective buyer looks out for when shopping for a new set of wheels. But a reduction in the765 words
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Article, Illustration659 2009-03-21 49 Samuel Ee - Samuel Ee fl watch Plot twists and climactic endings in the sport promise more drama than a soap opera. By Mk m AYBE every--1% #1 thing is stage managed or maybe Formula I One really does offer more drama than a soap opera. Fl does not havePHOTOS: BLOOMBERG, AFP, REUTERS - 659 words
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Page 41 Advertisements
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Advertisement58 2009-03-21 41 This series is brought to you by Emirates j k 71'• i 1 «jl^b, I i li'iw't ''^"fc"'i-: i Si M 7 V -W J' 400 international awards and over 100 destinations worldwide. For more details contact Emirates on 6735 3535 or visit 600 North Bridge Road, Parkview Square #11-01,58 words
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Page 45 Advertisements
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Advertisement766 2009-03-21 45 Wine^ Cline with BTWeekend Pine Court Chinese Restaurant Joel Robuchon in Paris, Troisgros in Roanne Marina Mandarin Singapore Global Kitchen (Level 3) Level 35, Orchard Wing and Le Jardin dcs Sens in Montpellier, this 6 Raffles Boulevard, Marina Square s 6826-8240 Meritus Mandarin Singapore former right-hand man to the Michelin766 words
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Page 48 Advertisements
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Advertisement39 2009-03-21 48 >3 J^ WWWW---Mmx KsO^fl Mwßw W Porsche Cayenne mm*>^ where dreams become REALITY J NEW ALEXANDRA SHOWROOM, THE ALEXCIER, 237 Alexandra Road #01 -13/14/15/16 TEL: 6473 1119 ÜBI SHOWROOM, 61 Übi Aye 2, AML Building, SO2-16/17/18 TEL: 6749 111939 words
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