The Business Times, 16 January 2010
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2010-01-16
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The Business Times
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Title Section13 2010-01-16 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg JANUARY 16 17, 2010 S$1.00 MICA (P) 124/08/200913 words
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1063 2010-01-16 1 Uma Shankari - Near-record 14,725 private homes were sold in 2009, but only 481 of them in December By Uma Shankari shankari@sph.com.sg Singapore PRIVATE home sales fell for the fourth straight month in December, sliding 20 per cent month-on-month to just 481 units. But the1,063 words
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Article, Illustration617 2010-01-16 1 Arthur Sim - It is opening in phases from next week, well ahead of its rival, even though it won its bid six months later By Arthur Sim simska@sph.com.sg Singapore DEFYING a sand ban, labour shortages and a recession, Resorts World Sentosa (RWS) isYEN MENG JIIN - 617 words
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Page 1 Advertisements
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Advertisement125 2010-01-16 1 the business www.businesstimes.com.sg the raffles conversation ESPN STAR SPORTS BOSS MANU SAWHNEY 6-7 CEOS' HAWKER GUIDE Rojak L6-7 WEALTH Predicting commodities’ price movements 30-31 fresh take Measuring external output too SINGAPORE is turning from gross domestic product to gross national product as it spreads its wings abroad.| 2 investor scene125 words
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TOP STORIES
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Article59 2010-01-16 2 NEWS Top Stories 2-5 Raffles Conversation 6-7 Week in Review 8 Companies 9-13 From The Desk Of 14 Singapore 15-17 Focus 18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-33 Househunt 34 Real Estate 35 LIVING Dining L2-5 CEOs’Hawker Guide L6-7 Fashion L8-9 Gadgets L10-11 WeekendWith L12 ClipperRace59 words
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743 2010-01-16 2 Lee U-Wen - With slower growth expected at home, PM points to the importance of growing an external wing By Lee U-Wen leeuwen@sph.com.sg Hanoi OFTEN, it is gross domestic product (GDP) that is the main yardstick used to measure a country’s overall economic output. But743 words
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Article135 2010-01-16 2 STI 2,908.42 (-1.10) STI FUTURES 2,908.0 (-1.00) SIMSCI 348.11 (-0.90) SIMSCI FUTURES 347.90 (-1.50) STOCKS Friday Change KL COMP 1,298.58 +3.87 NIKKEI 225 10,982.10 +74.42 HANG SENG 21,654.16 -62.79 SET 746.52 -2.90 JAKARTA 2,647.09 +1.91 MANILA 3,118.47 -3.44 KOSPI 1,701.80 +16.03 SHENZHEN B 633.47 +2.87 MUMBAI IND 17,554.30 -30.57135 words
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Article, Illustration630 2010-01-16 3 S Jayasankaran - Appointment to come as current chief exec’s contract ends in Feb By S Jayasankaran btworld@sph.com.sg Kuala Lumpur A THREE-WAY race to helm Malaysia’s national oil corporation is on but the incumbent is not one of the contenders, executives familiar with the matter said.BLOOMBERG - 630 words
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592 2010-01-16 4 Michelle Quah - Scarcity of capital, increased risk aversion drive investors, lenders to focus more on the reliability of information By Michelle Quah michquah@sph.com.sg Singapore HOW companies report impairment will continue to be closely scrutinised in the coming years, as the global economic outlook remains uncertain, says592 words
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Article, Illustration817 2010-01-16 4 AFP AP Bloomberg Reuters Washington WITH anger boiling over at banks, a proposed new tax on big finance firms drew mixed reactions, with some calling it a fair way to recoup bailout costs and others arguing it will hurt theAFP; AP; Bloomberg; Reuters - 817 words
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Article, Illustration689 2010-01-16 5 Joyce Hooi - Gunther Holtorf, travelling with his wife Christine, shares his road trip story during a stopover in Singapore By Joyce Hooi joyceh@sph.com.sg Singapore GUNTHER Holtorf has travelled more than 686,000 kilometres all over the world in two decades, bouncing over potholes and revving through mud689 words
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Article, Illustration425 2010-01-16 5 Reuters Tokyo JAPAN Airlines (JAL) moved a step closer to bankruptcy yesterday by drawing down US$1.6 billion in emergency funding and with the government setting Tuesday as the day to officially start a state-led restructuring. JAL, Asia’s largest airline by revenues but withReuters; AFP - 425 words
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Page 2 Advertisements
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Advertisement18 2010-01-16 2 ??Change in race policy not a revolution: PM, Page 15 ??IR gamble looking like a sure-win, Page 1418 words
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Page 4 Advertisements
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Advertisement9 2010-01-16 4 ??JPMorganposts big jump in Q4 earnings to US$3.27b,Page 199 words
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THE RAFFLES CONVERSATION
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Article, Illustration1727 2010-01-16 6/7 Rahul Pathak - ao Better bring your A game when you’re dealing with Manu Sawhney, because the head of ESPN Star Sports is ready to rumble. By Rahul Pathak By Rahul Pathak rahulp@sph.com.sg SEVERAL minutes after Manu Sawhney has launched into a detailed dissertation of his business, it strikes you thatARTHUR LEE - 1,727 words
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Page 6/7 Advertisements
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Advertisement70 2010-01-16 6/7 The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels Resorts. Raffles Hotels Resorts epitomizes enchanting experiences, embodying global sophistication and residential charm. Each is exclusive, intimate with a distinctive sense of place, imbued with heartfelt service that is intuitive and unobtrusive “like a gentle breeze”.70 words
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WEEK IN REVIEW/WEEK AHEAD
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THIS WEEK | Jan 11-15, 2010
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37 2010-01-16 8 THE buying has started again. Last week, a confluence of factors such as cold weather and positive economic data drove a number of commodity classes to new 12-month highs.37 words
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53 2010-01-16 8 CHINA’S exports rose in December for the first time in 14 months and imports surged 55.9 per cent to a record as the country helps power a global recovery. Exports climbed 17.7 per cent from a year earlier, the customs bureau said on its53 words
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48 2010-01-16 8 THE chances of the economy falling back into recession in 2010 are low, but its recovery in the months ahead is likely to be uneven with growth momentum slowing in the second half, says Trade and Industry Minister Lim Hng Kiang.48 words
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57 2010-01-16 8 THE Government of Singapore Investment Corp has written down most of its US$675 million investment in a giant New York apartment complex that was bought at the height of the property boom in the United States but which has since suffered from57 words
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52 2010-01-16 8 A TOUGH new requirement by Britain’s securities regulator that top banking executives and earners must defer 60 per cent of their total compensation for a three-year period is pushing some American banks with extensive London operations to say that they just won’t take52 words
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44 2010-01-16 8 SHARES of the commercially ailing and debt-laden Japan Airlines plunged 45 per cent on Tuesday amid growing talk that it would be bankrupted as a route to rehabilitation. Its fate is expected to be made known officially next week.44 words
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59 2010-01-16 8 CHINA on Tuesday raised the proportion of deposits that banks must hold in reserve, in the clearest sign yet that it has started to tighten monetary policy with its economy roaring back to the brink of overheating. The half-point increase in the59 words
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49 2010-01-16 8 PRESIDENT Barack Obama will try to recoup for US taxpayers as much as US$120 billion of the money spent to bail out the financial system, most likely through a tax on large banks, administration and congressional officials said on Monday.49 words
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48 2010-01-16 8 ASIAN equity markets fell on Wednesday after China unexpectedly raised the reserve ratio for banks there, highlighting the risks for governments worldwide as they start to rein in the extraordinary stimulus measures put in place at the height of the crisis.48 words
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58 2010-01-16 8 YTL Cement Singapore has fired a $50 million salvo in response to Holcim Investments’ takeover attempt of Jurong Cement Limited (JCL). YTL Cement, JCL’s se-cond-largest shareholder, is offering $50 million for the property, plant and equipment of Jurong Cement Bulk Terminal. YTL Cement58 words
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56 2010-01-16 8 SINGAPORE Press Holdings’ net profit for the first quarter ended Nov 30, 2009, has almost doubled to $144.7 million. That was despite operating revenue for its core newspaper and magazine publishing business falling 2.5 per cent to $243.2 million. Total operating revenue rose56 words
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Article, Illustration92 2010-01-16 8 GOADED into action by reports of “massive profits and obscene bonuses” at financial firms, US President Barack Obama was set to unveil on Thursday a US$90 billion fee on 50 top finance companies in the country. The punitive fee is intended toBLOOMBERG - 92 words
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56 2010-01-16 8 SHANGHAI has overtaken Tokyo as Asia’s biggest stock market by value of shares traded after activity doubled there year on year. Shares worth US$5.01 trillion changed hands in Shanghai, compared with US$4 trillion in Tokyo, for many years Asia’s biggest stock market, according56 words
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NEXT WEEK | Jan 18-22, 2010
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Article24 2010-01-16 8 Jan 20 Dec building permits Dec Core PPI Dec housing starts Dec PPI Jan 21 Initial claims Continuing claims Dec leading indicators24 words
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Article43 2010-01-16 8 Jan 19 Bank of Canada key policy interest rate announcement Jan 20 Bank of England to publish minutes of Jan 6-7 Monetary Policy Committee meeting Jan 21 ECB publishes monthly bulletin Reserve Bank of Australia bulletin Bank of Canada monetary policy report43 words
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Page 8 Miscellaneous
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Miscellaneous307 2010-01-16 8 CRYPTIC CROSSWORD Across 1 Hot stew taken in by medical orderly (10) 9 Insect observed round apple core (4) 10 Penitentiary with unlimited accommodation (4,6) 11 He went round filling potholes (6) 12 Conveyed how a vote was successful (7) 15 A crop is knocked flat (7) 16 Battle for307 words
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Miscellaneous14 2010-01-16 8 SATURDAY with Ludwig ‘After last year’s downturn, all I need is a complete makeover...’14 words
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COMPANIES
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Article, Illustration663 2010-01-16 9 Oh Boon Ping - Russia’s aluminium giant aims to cut its debt by US$5 billion by 2013. By Oh Boon Ping ipo focus By Oh Boon Ping huwenbin@sph.com.sg RUSSIAN aluminium maker UC Rusal has reportedly received enough orders from institutional investors to close its share sale,BLOOMBERG - 663 words
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603 2010-01-16 9 Reuters Hong Kong LIKE its fellow Las Vegas peers before it, casino company MGM Mirage is pushing ahead with plans to list its Macau operations on the Hong Kong stock exchange, hoping to raise up to US$500 million as earlyReuters - 603 words
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457 2010-01-16 10 Joyce Hooi - Jurong Cement seeks major shareholder’s decision after receipt of offer for unit’s assets By Joyce Hooi joyceh@sph.com.sg Singapore THE ball is in Holcim Investments (Singapore) Pte Ltd’s (HIS’s) court now that YTL Cement Singapore Pte Ltd has made an offer457 words
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Article, Illustration309 2010-01-16 10 Singapore THE manager of Frasers Centrepoint Trust has appointed former Science Centre Singapore head Chew Tuan Chiong as its CEO-designate. Frasers Centrepoint Asset Management (FCAM) said yesterday that the current CEO, Christopher Tang, will work with Dr Chew to achieve a smooth handoverFILE PHOTO - 309 words
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166 2010-01-16 10 Reuters New Delhi ST Kinetics, an arm of Singapore Technologies (ST) Engineering, said it has bid for five Indian defence contracts worth US$3 billion. “If all five defence tenders we have bid for come through, we will have a revenue of $3Reuters - 166 words
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367 2010-01-16 10 Jamie Lee - By Jamie Lee leejamie@sph.com.sg Singapore TRITECH Group has proposed a rights issue of up to 59.1 million warrants which assuming full subscription of the rights and subsequent full exercise of the warrants will raise net proceeds of up to $15.28 million. The specialist engineering367 words
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447 2010-01-16 11 Vincent Wee - Investors and analysts see company’s future growth coming from its new deepwater subsea services division By Vincent Wee vincewee@sph.com.sg Singapore ANALYSTS and investors are looking deep for further upside for Ezra Holdings, as they see future growth coming from its new deepwater subsea services447 words
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Article, Illustration331 2010-01-16 11 Chew Xiang - By Chew Xiang xchew@sph.com.sg Singapore SINGTEL yesterday released some details of its Barclays Premier League programming for next season but said that it was still in negotiations with various production houses for review and analysis shows. A fans feedback programme, an analysis show and a previewAFP - 331 words
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164 2010-01-16 11 Bloomberg Singapore COMPANIES will sell more bonds this year than in 2009 as banks curb lending to conserve capital as they try to cope with more than US$1 trillion in new writedowns and losses, according to Citigroup. “Even strong companies will benefit fromBloomberg - 164 words
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Article, Illustration477 2010-01-16 12 Ven Srineevasan - stocks| Ven Srineevasan ven@sph.com.sg Senior correspondent ITWASalacklustreanddi-rectionless close for Singapore stocks yesterday as the local market dribbledsidewards insympathy with sluggish East Asian bourses. With Hong Kong and Shanghai struggling to stay in positive territory in the wake of China’s monetary tightening this week, there477 words
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Business briefing
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Article64 2010-01-16 12 ROTOL Singapore has been awarded a $3.95 million contract for the supply, delivery and installation of above ground-level works and external works at Farrer Station, Thomson Full Fit-out Civil Defence Station and Botanical Gardens Station. The project is expected to be completed before Sept 30, 2010.64 words
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64 2010-01-16 12 GMG Global Ltd has announced that Li Xuetao, executive director and vice-presi-dent, has assumed the position of chief operating officer of the company in place of Jeffrey Gondobintoro with effect from yesterday. Mr Gondobintoro will remain as executive director and vice-president of the company64 words
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41 2010-01-16 12 NOVENA Holdings has appointed Ong Choo Guan, 59, as CEO. His experience in the last 10 years includes being general manager of Viking Engineering Pte Ltd and executive director of Viking Airtech Pte Ltd.41 words
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72 2010-01-16 12 MULTI-CHEM Ltd warned that it would suf- fer an after-tax loss for 2009 as a result of the drastic slowdown in demand for electronic products. Although there have been signs of recovery in the second half of 2009, the demand is inadequate to cover72 words
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Article49 2010-01-16 12 WBL Corp has appointed deputy chairman Ng Ser Miang as chairman, succeeding Wong Nang Jang who retired. At its annual general meeting yesterday, WBL failed to obtain shareholders’ support for a resolution which will allow it to award performance shares to staff.49 words
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267 2010-01-16 12 Bloomberg Hong Kong TIRESIAS Capital Ltd, a Cay-man-based hedge-fund manager overseeing US$560 million, plans to start its first Asian fund this quarter to take advantage of an expected increase in mergers and acquisitions in the region. The “event-driven” fund will beginBloomberg - 267 words
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Article110 2010-01-16 12 VOL CLOSE GuocoLeisure 161,502 76.5 6.5 9.3 GoldenAgri 84,992 57 -2.5 -4.2 GentingSP 68,256 125 2.0 1.6 Oceanus 36,092 42.5 -1.0 -2.3 ChinaAniH 31,830 29.5 1.5 5.4 RafflesEdu 28,733 44 1.0 2.3 TopGlobal 25,742 2.5 0.0 0.0 OttoMarine 25,466 52 -4.0 -7.1 SinotelTech 25,099 64.5 -1.5 -2.3110 words
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Article111 2010-01-16 12 Stock name Close Change CapitaLand 4.280 +0.020 CapitaMall 1.840 -0.040 CityDev 11.660 -0.080 ComfortDelGro 1.630 +0.010 Cosco Corp 1.330 -0.020 DBS Grp 15.140 +0.020 F&N 4.490 -0.010 Genting SP 1.250 +0.020 Golden Agri 0.570 -0.025 HK Land 4.820 +0.020 JMH 30.840 +0.840 JSH 17.680 +0.100 Jardine C&C 26.620111 words
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Article61 2010-01-16 12 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 301.5 1.9 JMH 3084 116.7 2.8 STXPO 100 1600 48.0 3.1 DBXT MSTaiwan 10US$ 1723 47.2 2.0 DBXT MSAsExJp 10US$ 2881 38.9 1.0 UOB 5.05%NCPS 100 ***** 34.0 0.3 DBXT MSKorea 10US$ 4859 19.5 0.3 JSH 1768 13.9 0.6 Spore61 words
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Article59 2010-01-16 12 BY CENTS CLOSEDOWN DBXT FTVietnam 10US$ 4549 -79.2 -1.2 GLD 10US$ ***** -66.7 -0.4 Jardine C&C 2662 -60.0 -2.2 Lyxor China H 10US$ 1589 -29.2 -1.3 SIA 200 1430 -22.0 -1.5 OCC 3.93% NCPS10 8500 -20.0 -0.2 DairyFarm 607 -18.1 -2.1 Great Eastern 1392 -18.0 -1.3 DBXT S&P59 words
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Article, Illustration368 2010-01-16 13 Ven Sreenivasan - It reports 84.3% load factor though the number of passengers carried slips 4.7% to 1.53 million By Ven Sreenivasan ven@sph.com.sg Singapore Singapore SINGAPORE Airlines filled a record proportion of available seats on its planes in December last year despite flying fewer passengers,SIA statement - 368 words
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407 2010-01-16 13 Singapore TOURISTS now have an even bigger incentive to make their way to Resorts World Sentosa (RWS) when it launches hassle-free package deals with Asiatravel.com. The pan-Asia travel company has entered into an agreement with RWS to provide accommodation, transportation and sales support for407 words
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139 2010-01-16 13 Singapore THE container logistics arm of CWT Ltd, OCWS Logistics Pte Ltd, has expanded its operations to Malaysia. One of the largest container depot operators in Singapore, OCWS has started operating a 217,800 square foot container depot at On Dock Depot, West Port,139 words
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Page 11 Miscellaneous
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Miscellaneous31 2010-01-16 11 7 1 <0 TO kl'JL'l JACKPOT 3, 000, This Monday! P LAY® Always play with care. Towards Community [responsibly] Do not bet illegally. Purpose and Benefit RCB Reg No: *****0202G SINGAPORE31 words
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Page 13 Advertisements
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Advertisement653 2010-01-16 13 WAT-=i 3 NOTICES Ak?/ ADVANCED SYSTEMS AUTOMATION LIMITED (Incorporated in the Republic of Singapore on 10 April 1986) (Company Registration Number: *****0740M) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that a Extraordinary General Meeting of ADVANCED SYSTEMS AUTOMATION LIMITED (the "Company") will be held at ASTI Conference Room,653 words
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FOCUS
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Article, Illustration980 2010-01-16 14 Arthur Sim - Both resorts at maximum capacity could add 1.7 percentage points to GDP. By Arthur Sim rws opening By Arthur Sim simska@sph.com.sg FIVE years in the making and now, the first integrated resort (IR), Resorts World Sentosa (RWS), will begin to open next week. AndPHOTOS: YEN MENG JIIN - 980 words
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SINGAPORE
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Article, Illustration573 2010-01-16 15 Lee U-Wen - It’s due to a liberalisation of the system that the government has been shaping over time By Lee U-Wen leeuwen@sph.com.sg Hanoi THE move to allow double-barrel-led race classifications, which has contributed to the ongoing debate on race, is due to a “liberalisation”LIANHE ZAOBAO - 573 words
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Briefing
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Article63 2010-01-16 15 THE Minister for Trade and Industry appointed on Jan 1 two new members to the Singapore Tourism Board (STB). They are Vinodh Coomaraswarmy, a partner at Shook Lin Bok LLP, and Diana Ee-Tan, a director of Raffles Hotel 1886 Ltd. Three members Scott Blume,63 words
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90 2010-01-16 15 THE Ministry of Health will extend Medifund assistance to needy Singaporeans who require HIV treatment, including medication, come Feb 1. MOH will inject $8.5 million of Medifund to the hospitals to support this extension. The Medifund assistance will be subject to means-testing and proven financial90 words
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Article50 2010-01-16 15 THE Singapore Business Federation (SBF) yesterday appointed Victor Tay as its chief operating officer. Mr Tay joins the SBF from Spring Singapore, where he was director of the biomedical and services cluster with a concurrent appointment as codirector of the business continuity management programme office.50 words
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81 2010-01-16 15 THE Agency for Science, Technology and Research (A*Star) and the French National Research Agency (ANR) yesterday made their first bilateral joint call for proposals in the areas of nanotechnology and information communication science technologies. Under a recently signed memorandum of understanding, A*Star and81 words
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190 2010-01-16 15 THE current Chief of Army, (CoA) Major-General Neo Kian Hong, will take over from Lieutenant-General Desmond Kuek Bak Chye as Chief of Defence Force (CDF) on March 31, 2010. Brigadier-General Chan Chun Sing, currently Chief of Staff Joint Staff, will190 words
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Article, Illustration420 2010-01-16 16 Nisha Ramchandani - The organisation will promote the exchange of information in science and technology By Nisha Ramchandani nishar@sph.com.sg SINGAPORE and China will be better able to collaborate in the fields of science and technology by leveraging on the newly founded non-profit organisation, Singapore-China Association for AdvancementLIANHE ZAOBAO - 420 words
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290 2010-01-16 16 THE Singapore Business Federation (SBF) is leading a business mission to Saudi Arabia to help drive Saudi-Singapore business collaboration. The group, which left yesterday and will return on Jan 21, is there to explore business opportunities and take part in the third meeting290 words
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491 2010-01-16 17 Teh Shi Ning - But Singapore’s external exposure may temper business spending, going by a quick Stanchart poll By Teh Shi Ning tshining@sph.com THIS year shall be a fairly bright year for Singapore, with firm consumer spending and Asia leading the global recovery. But a question mark hangs over491 words
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Article, Illustration385 2010-01-16 17 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg RETAIL sales in November came in 1.4 per cent lower year on year, according to data released by the Department of Statistics yesterday. Excluding motor vehicles, retail sales were 4 per cent higher than the corresponding monthBLOOMBERG - 385 words
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Page 15 Advertisements
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Advertisement23 2010-01-16 15 HOT IPO Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg. MATS NOTICES23 words
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Page 16 Advertisements
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Advertisement8 2010-01-16 16 ??Text of Ngiam Tong Dow’s speech, Pages 28-298 words
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Article, Illustration1316 2010-01-16 18 Mark Ingrouille - Marketers in Asia would do well to seize on seven major trends in the world of marketing communications from the desk of Mark Ingrouille Region Director, ASEAN McCann Worldgroup LET’S inverse Dickens. These are the worst of times; these are the best1,316 words
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WORLD
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532 2010-01-16 19 Consumer price index up 0.1% in Dec, less than forecast latest us data| Bloomberg Reuters Washington PRODUCTION in the US rose in December for the sixth consecutive month, propelled by a jump in utility use as temperatures turned unseasonablyBloomberg; Reuters - 532 words
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Article, Illustration409 2010-01-16 19 Anthony Rowley - By Anthony Rowley btworld@sph.com.sg Tokyo JAPAN intends to focus heavily upon the rest of Asia, especially on promoting infrastructure development in the region as part of a new growth-boosting national economic strategy, announced Minister of Economy, Trade and Industry Masayuki NaoshimaAFP - 409 words
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348 2010-01-16 19 AFP Washington BANKING giant JPMorgan Chase yesterday reported a big jump in net profit to US$3.27 billion in the fourth quarter of 2009, highlighting renewed health in the troubled sector. The New York-based financial giant doubled its profits for the fullAFP - 348 words
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464 2010-01-16 20 Pauline Ng - Additional 36 draws estimated to add RM100m to govt revenue By Pauline Ng btworld@sph.com.sg Kuala Lumpur IN a bid to increase revenue, the government is likely to award 12 additional draws for each of the country’s three number forecast operators (NFOs). If464 words
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Article, Illustration390 2010-01-16 20 Reuters Washington US President Barack Obama and congressional Democrats scored a victory in healthcare talks on Thursday, winning labour union support for a revised tax on high-cost insurance plans and possibly clearing the way for a final agreement. Thedealon theSenate’s “Cadillac tax” removed oneReuters; AP - 390 words
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278 2010-01-16 20 Teh Shi Ning - By Teh Shi Ning tshining@sph.com.sg Singapore A GROWING number of Muslim non-governmental organisations (NGOs) are banding together in support of churches across Malaysia after a spate of vandalism and arson attacks following a court decision allowing a Catholic publication to use the term “Allah” to278 words
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Article, Illustration508 2010-01-16 21 Investor enthusiasm untempered by friction between Beijing and Google, Rio Tinto Bloomberg Beijing FOREIGN direct investment in China more than doubled in December from a year earlier as the effects of the financial crisis fade. Investment rose 103 per cent from ayear earlierBloomberg; AFP - 508 words
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678 2010-01-16 21 Bloomberg London MANCHESTER United’s owners will use cash from the 18-time English soccer champion to reduce hedge fund debts that helped pay for their 2005 takeover, said an investor familiar with the matter. The Glazer family is trying toBloomberg - 678 words
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Article, Illustration757 2010-01-16 22 Beijing plays down Google’s exit threat, saying such a move won’t affect US trade ties Reuters Bloomberg AFP Washington MICROSOFT Corp has no plans to pull out of China, its chief executive said on Thursday, playing down concerns about recent cyber-attacksReuters; Bloomberg; AFP; AP - 757 words
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494 2010-01-16 22 Reuters New York CITIGROUP Inc could pay commercial and investment banking bonuses for 2009 that are similar to 2008 levels, and may cap individual cash payouts at about US$60,000, according to people that have been briefed on the plan. Some detailsReuters - 494 words
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Page 20 Advertisements
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Advertisement16 2010-01-16 20 Lianhe Zaobao Liu Yiqian: Mystery tycoon who grew upm. Shanghai M id i K Ett NIK16 words
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SGX
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Article9043 2010-01-16 23 Transaction date: Jan 15 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 18 3 3148 8Telecom 17 unch 229 17 17 17 17.5 5 0.6 30.9 81.4 10 2.5 5834 A-Sonic 8.5 -0.59,043 words
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Article1892 2010-01-16 26 52-wks Tel Last Vol Day Last Quote Div GrYld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 10 5 1181 s AA Grp 5 5 6 4.8 25 12 8538 t APStrategic 15 -1 53 15.5 15 15 15.5 88.51,892 words
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Article186 2010-01-16 26 MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 7 4 0 0 0 6 7 4 Manufacturing 37 82 78 3 11 16 40 93 94 Commerce 20 27 28 4 4 7 24 31 35 Tpt/Stor/Comms 15 18 11186 words
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Article785 2010-01-16 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Jan 11 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Hisaka 14-Jan-10 Cheng Ee Chew *Sell ***** 0.27 ***** 41.10 ***** 35.80 Hisaka 14-Jan-10 U9 Inv PL785 words
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Article128 2010-01-16 26 TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 199,050 199,050 213,030 213,030 Manufacturing 347,818 19,726 367,544 249,530 1,336 250,866 Commerce 114,913 20,931 135,844 87,899 2,821 90,720 Tpt/Stor/Comms 88,337 2,384 90,721 153,571 470 154,041 Finance 34,669 34,669 125,655 125,655 Construction 60,576 29,170 89,746 18,305128 words
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MARKETS
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Article, Illustration90 2010-01-16 27 YTD change: +0.37% 52-week high: 2,947.08 on Jan 11,2010 52-week low: 1,455.47 on March 10,2009 Source: Bloomberg YTD change:-1.00% 52-week high: 23,099.50 on Nov 18,2009 52-week low: 11,344.50 on March 9,2009 Source: Bloomberg YTD change:-1.62% 52-week high: 3,478.01 on Aug 4,2009 52-week low: 1,902.54 on Jan 15,2009 Source:Source: Bloomberg - 90 words
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365 2010-01-16 27 In local curr In S$ In US$ dy yr dy yr dy yr Jan 14 Index Change Change Change Change Change Change World Index Preliminary 853.3 0.4 25.9 0.4 26.4 0.4 31.2 ‡EAFE Preliminary 803.9 0.8 23.8 0.9 27.9 0.9 32.7 Europe Preliminary 1143.9 0.6365 words
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Article154 2010-01-16 27 Jan 15 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2842 1.2852 0.9242 0.9244 Canadian dollar 1.3522 1.3536 0.9731 0.9736 Euro 1.9989 2.0005 1.4386 1.4389 NZ dollar 1.0229 1.0240 0.7362 0.7365 Sterling pound 2.2670 2.2686 1.6315 1.6317154 words
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Article77 2010-01-16 27 Jan 14 COCOA (£/tonne) Close Prev High/Low Mar 10 2297 2288 2302/2284 May 10 2297 2289 2300/2283 Jul 10 2274 2263 2275/2260 Sep 10 2248 2233 2248/2235 COFFEE (US$/tonne) Close Pev High/Low Jan 10 1357 1359 1354/1340 Mar 10 1396 1398 1409/1374 May 10 1424 1427 1438/1404 SUGAR (US77 words
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Article102 2010-01-16 27 Jan 14 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jan 10 968.50 983.50 986.00 967.50 Mar 10 984.00 992.50 993.75 975.25 May 10 990.75 999.*****0.25 982.00 Jul 10 996.*****6.*****6.25 987.00 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Jan 10 37.80 38.63 38.35 37.88 Mar 10102 words
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Article60 2010-01-16 27 Jan 15 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 10 2480 311 Feb 10 2500 2467 2500 2448 491 4202 Mar 10 2522 2490 2525 2466 ***** ***** Apr 10 2538 2495 2538 2478 9092 *****60 words
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Article75 2010-01-16 27 Jan 14 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 78.41 0.30 WTI (Near Mth) 79.34 -0.36 Dubai (1-Mth F) 78.59 0.26 Tapis blend 81.85 unch Minas 81.50 unch PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 82.66 1.56 Jet Kerosene 86.75 -0.35 US$/barrel Opec Oil Basket Price75 words
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Article73 2010-01-16 27 Jan 14 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2304.00 2260.50 3 months 2335.00 2294.00 Copper, Grade A (US$/tonne) Cash 7465.75 7460.00 3 months 7490.00 7485.00 Lead (US$/tonne) Cash 2484.50 2453.75 3 months 2507.00 2480.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.00 3 months *****.00 unch Tin (US$/tonne)73 words
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Article67 2010-01-16 27 Jan 15 GOLD (US$/oz) Jan 14 Jan 15 Hong Kong 1138.*****5.10 Jan 14 Jan 13 London 1132.*****4.20 1133.*****5.00 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 25.97 25.74 Source: UOB PLATINUM Lon (US$/oz) Jan 14 Close Previous PM Fix 1600.*****7.00 AM Fix 1581.*****3.00 Source: Thomson Reuters PLATINUM NYMEX67 words
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PERSPECTIVE
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Article, Illustration1874 2010-01-16 28 / 29 Ngiam Tong Dow - It is good commercial sense for Singapore engineering firms to collaborate with Chinese counterparts in the research and design of new projects for third markets Ngiam Tong Dow This is the text of Ngiam Tong Dow's speech delivered on Jan 15 at the inaugural meeting of the newlyBLOOMBERG - 1,874 words
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Wealth
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Article, Illustration1394 2010-01-16 30 / 31 Oh Boon Ping - As the market rebounds, macro factors are expected to play prominent roles in determining commodities’ price movements ahead. By Oh Boon Ping By Oh Boon Ping AMONGtraders,2009 is often described as “the year of commodities”. And justifiably so too. The Reuters/Jefferies CRB index posted a near 24 perPHOTOS FROM AFP, BLOOMBERG, REUTERS - 1,394 words
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Article785 2010-01-16 30 / 31 Jamie Lee - Compiled by Jamie Lee Disclaimer: All analyses, recommendations and other information herein are published for general information. Readers should not rely solely on the information published and should seek independent financial advice prior to making any investment decision. The publisher accepts no liability for any loss whatsoever arising785 words
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Article, Illustration823 2010-01-16 32 Chris Firth - Take all the 2010 market economic forecasts you read with a heap of salt most of them will be wrong in some way wealth insights Chris Firth CEO of DollarDex.com DEAR readers, I am offering six tips on investing in 2010 to help youSTOCK.XCHNG - 823 words
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Article, Illustration1278 2010-01-16 33 Teh Hooi Ling - Smaller caps are generally good for short-term punts, but firms with big market caps are always the best bet show me the money Teh Hooi Ling hooiling@sph.com.sg Senior correspondent The writer is a CFA charterholder THE Straits Times Index started 20001,278 words
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Article, Illustration290 2010-01-16 34 Official data shows floor at end-2009 after two years of declining sales and prices Reuters Madrid SPAIN’S property sector slide showed signs that it was nearing a floor at the end of 2009 after two years of steep declines in both sales and prices,Reuters; BLOOMBERG - 290 words
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447 2010-01-16 34 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED Marina Bay Residences Apt 23/12/2009 99 1636 2976 1819 The Sail Marina Bay Apt 23/12/2009 99447 words
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Article, Illustration821 2010-01-16 35 High real estate prices leave limited room for further growth, say fund managers Bloomberg Shanghai CHINA’S best-performing stock funds are turning bearish on housing shares after a run-up in real estate that investor Mark Mobius says is far from over. Shanghai Elegant Investment Co’sBloomberg; REUTERS - 821 words
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Page 34 Advertisements
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Advertisement58 2010-01-16 34 u« Featuring the Quality Homes Collection The Trizon. Beyond Excitement, Beyond Words. For enquiries on The Trizon, please call Cecilia Wang 9660 6035 or Gladis Heng 9387 4624. For general enquiries, kindly call 6836 3338 Savills has more than 200 offices and associates worldwide to meet all your real estate58 words
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Advertisement42 2010-01-16 36 M AUDEMARS PIGUET le maitre de I'horlogerie depuis 1875 a «y X IS^S TRADITION ULTRA-THIN V I ,g A I 'V; "A\ 1 1 •> > M /tf.'i: ul^l LUW f Mm". i i V.fl» 'V.; l For enquiries, Tel (65) 6238 6678 www.audemarspiguet.com42 words
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Advertisement56 2010-01-16 1 LivingBTTHEBUSINESSTIMESWEEKEND|JANUARY16-*****0BTTHE BUSINESS TIMES WEEKEND JANUARY 16-17 MICHELIN HONG KONG A sampling of the territory's star eats L2-5 PHOTO: LAN FONG YUEN CEOS' HAWKER GUIDE Chinese and Indian rojak L6-7 STYLE Burberry's trench warfare L8-9 NO HOLDS BARRED In the name of football L16 GADGETS Comdex highlights L10-11 MOTORING Explosive Turbo56 words
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BT Living
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DESTINATION DINING
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Article, Illustration2349 2010-01-16 2 / 3 Cheah Ui-Hoon - WHEN the Michelin guide made its Hong Kong debut last year, it probably wasn’t prepared for the hostile reaction it received from the former British colony’s foodies. Amongst the brickbats the judges were mostly westerners and there was too much emphasis on luxury restaurants rather than local eateries.ALL PHOTOS BY CHEAH UI-HOON EXCEPT HUNG’S WINDOW; AFP; PHOTOS OF BAKED ALAKSA, LAN FONG YUEN BY CHEAH UI-HOON - 2,349 words
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Article, Illustration470 2010-01-16 4 / 5 Michelin - The joy of eating in Hong Kong, like much of Asia, is of course the ability to wander from one eatery to another to try their signature dishes. So instead of having a full meal at one place, you really should plan your day around a470 words
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Article903 2010-01-16 4 / 5 wine dine with BTWeekend Bar on 5 Level 5, Meritus Mandarin Singapore 333 Orchard Road ?6831-6288 Bar on 5 is the ideal place to chill out and unwind after a hard day’s work. Located five floors above Orchard Road, it provides a fabulous view of the shopping belt. The beverage903 words
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CEOS' HAWKER GUIDE
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Article, Illustration1646 2010-01-16 6 / 7 Jenny Tan - Mixingit BT Weekend goes in search of the best rojak around town. By Jenny Tan btnews@sph.com.sg LITERALLY translated, rojak means just that a mix of different elements. As a noun it can sometimes be less than flattering, but in its edible form it’s delicious. In Singapore, twoPHOTOS: ARTHUR LEE, YEN MENG JIIN - 1,646 words
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Article, Illustration683 2010-01-16 6 / 7 Audrey Phoon - Andrew Tan CEO National Environment Agency By Audrey Phoon aphoon@sph.com.sg ANDREW Tan is a bit of a stern-looking chap, but put a plate of rojak in front of him and he becomes almost child-like. Case in point: we’re at the National Environment Agency CEO’s favourite rojakYEN MENG JIIN - 683 words
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STYLE
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Article, Illustration1422 2010-01-16 8 / 9 Melissa Lwee - Burberry’s resident control freak Christopher Bailey plucked the label out of near-obsolescence, turning the house’s signature topper into a coveted classic. By Melissa Lwee mellwee@sph.com.sg CHRISTOPHER Bailey is obsessed with details. “This carpet should be a little bit thicker,” Burberry’s chief creative officer suddenly points out with one1,422 words
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GADGETS
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Article, Illustration1345 2010-01-16 10 / 11 Christopher Lim - le Also making a splash at this year’s CES were e-book readers and innovative audio products. By Christopher Lim limchris@sph.com.sg THE deluge of e-book readers shown off at the Consumer Electronics Show (CES) in Las Vegas last week belies the irony that a key feature e-book1,345 words
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WEEKEND WITH
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Article, Illustration934 2010-01-16 12 Cheah Ui-Hoon - Dr Gilbert Er’s customised Sauter semi-grand piano is the only one of its kind in Singapore. By Cheah Ui-Hoon WEEKEND WITH GILBERT ER DOCTOR AND AVID PIANO PLAYER By Cheah Ui-Hoon uihoon@sph.com.sg FROM popular ballads to light jazz; from gospel songs to making up his own compositions, playingYEN MENG JIIN - 934 words
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KEPPEL • CLIPPER ROUND THE WORLD
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Article, Illustration1083 2010-01-16 13 Vincent Wee - Cork, one of the 10 yachts, ran into a reef off Indonesia and the crew had to abandon ship. By Vincent Wee vincewee@sph.com.sg LESS than 400 miles or about threedays’sailingfromthefinish of Race Five from Geraldton, Western Australia to Singapore, the crews in the ClipperKEPPEL - 1,083 words
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TRVEL
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Article, Illustration1116 2010-01-16 14/15 Geoffrey Eu - The Mayr Health Spa beside Lake Worth is a sanctuary that revitalises one’s mind, body and digestive system. By Geoffrey Eu system.By Geoffrey Eu btnews@sph.com.sg Mayr Health Spa Golfstrasse 2, A-9082 Maria Worth-Dellach, Carinthia Austria ?+**********0 www.mayrandmore.at AS prescribed by Franz Xaver Mayr, the road to wellnessALL PHOTOS, EXCEPT LODGE IN MAIN PICTURE, ROOM INTERIOR AND COUPLE, BY GEOFFREY EU - 1,116 words
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SPORT
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Article, Illustration605 2010-01-16 16 Lee U-Wen - no holds barred Lee U-Wen leeuwen@sph.com.sg Acting Deputy Foreign Editor WHAT’Sin aname? Plenty,it would seem, especially if you are a football fan particularly a Liverpool one. Hardcore fans of the English Premier League giant are furious after they learned earlier this week that the boardREUTERS - 605 words
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613 2010-01-16 16 Reuters London LESS than four weeks before holders Alinghi are due to race challengers BMW Oracle for sailing’s most prestigious prize, the America’s Cup remains locked in a maelstrom of uncertainty. The break up of talks in Singapore on Wednesday, aimed at resolving a numberReuters - 613 words
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GOLF
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Article, Illustration1189 2010-01-16 17 Justine Moss - Laguna National’s World Classic course next to the East Coast Parkway is shaping up to be one of the most unique layouts in the region. By Justine Moss By Justine Moss btnews@sph.com.sg WHEN it was announced back in November 2007 that the Laguna National Golf1,189 words
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MOTORING
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Article, Illustration633 2010-01-16 18 Samuel Ee - The sassy Nemo is less of a goods vehicle and more of a personal recreational auto.By Samuel Ee sassy auto.By Samuel Ee samuelee@sph.com.sg FOR some, a lifestyle car may be an SUV. For others, it is the die-sel-engined light commercial vehicle or LCV. A small but significant number633 words
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Article, Illustration646 2010-01-16 19 Samuel Ee - The appeal of Subaru Impreza WRX STI Spec C lies in its old-school charm. By Samuel Ee charm.By Samuel Ee samuelee@sph.com.sg WHY anyone would want to buy a model that has long since been replaced by a newer version may sound strange. But when it comes to the646 words
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Article, Illustration575 2010-01-16 20 Samuel Ee - The new Porsche 911 Turbo comes with a myriad of new technologies. By Samuel Ee technologies.By Samuel Ee samuelee@sph.com.sg IT IS no surprise these days to see a new Porsche that looks very much like the one it has just replaced. But the lack of outward change is575 words
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Advertisement19 2010-01-16 4 / 5 Reach out to more than 100,000 readers daily in the Wine Dine Scheme. Contact Adeline Goh at 6319-6127 9681-828919 words
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Advertisement51 2010-01-16 6 / 7 This weekly series is jointly brought to you by The Business Times and Knight Frank Pte Ltd KNOWLEDGE PROVIDER The trusted name in real estate for 70 years. Knight Frank's full suite of Real Estate Services: Investment Sales Residential Retail Office Industrial Auction Valuation Consultancy Research Property Management Shopping Centre51 words
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Advertisement85 2010-01-16 13 Celebrate the homecoming of Uniquely Singapore and catch the arrival of the Clipper 09-10 Round The World Yacht Race fleet at Marina at Keppel Bay on 23 January 201 0. 1 0am, Saturday, 23 January 201 0 9.30am, Tuesday, 2 February 2010 Between HarbourFront Centre bus stop Marina at Keppel85 words
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Advertisement8 2010-01-16 13 this series is brought to you by www.marinakeppelbay.com8 words
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