The Business Times, 26 November 2011
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2011-11-26
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The Business Times
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Title Section18 2011-11-26 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg NOVEMBER 26-27, 2011 S$1.00 MICA (P) 121/08/2011 sp!l A SINGAPORE PRESS HOLDINGS PUBLICATION18 words
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Article37 2011-11-26 1 Italian debt sales rattle markets ROME sells eight billion euros of six-month Treasury bills at an average yield of 6.504 per cent and two billion euros of 24-month zero-coupon bonds at 7.814 per cent. 237 words
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Article35 2011-11-26 1 Stanchart (S) eyes US$3b revenue RAY Ferguson, CEO of Standard Chartered Bank Singapore, expects revenue to hit US$3 billion by 2014, which is more than 76 per cent above 2010’s US$1.7 billion. 435 words
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Article30 2011-11-26 1 Ex-Olympus chief on Japan decline MICHAEL Woodford tells a packed audience that poor corporate governance is at the heart of Japan’s economic decline relative to other countries. 630 words
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Article34 2011-11-26 1 Booking for event space hots up HOTELS in Singapore advise customers to book venues for their functions by up to year ahead, if not two, especially for in-demand or weekend dates. 1734 words
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1063 2011-11-26 1 Grace Leong - Ahead of study on problem gambling, new rules to stop casinos from wooing S’poreans, PRs and foreign workers By Grace Leong gleong@sph.com.sg Singapore THE Ministry of Community Development, Youth and Sports (MCYS) is tightening regulations on casino advertising and promotions to bar1,063 words
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Article, Illustration542 2011-11-26 1 George Joseph - Mobile phone emits smoke on Sydney flight By George Joseph georgej@sph.com.sg Singapore “PHONE ALARM” took on an entirely new meaning when a mobile phone in a passenger’s pocket started emitting dense smoke and a red glow, just as his plane was landing542 words
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Page 1 Advertisements
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Advertisement33 2011-11-26 1 the business www.businesstimes.com.sg the raffles conversation JUDITH RODIN, PRESIDENT OF THE ROCKEFELLER FOUNDATION 10-11 THE BUSINESS TIMES th Anniversary Dining deals To find out more, turn to Page LIVING The tippling point L2-433 words
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Advertisement9 2011-11-26 1 SHOW ME THE MONEY The Reit myth busted 339 words
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TOP STORIES
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Article, Illustration633 2011-11-26 2 Neil Behrmann - Yields on two-year Italian bonds leap to a euro lifetime high of over 8 per cent By Neil Behrmann bt wo rl d @s p h .co m .sg London EUROPEAN bond and stock markets remained under pressure for the seventh consecutive633 words
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494 2011-11-26 2 Teh Shi Ning - The jump, due to doubling in pharma, is over 3 times what economists had expected By Teh Shi Ning tshining@sph.com.sg Singapore INDUSTRIAL production in October surged 24.4 per cent year-on-year more than triple the market’s forecast due to unexpectedly strong pharmaceutical output growth.494 words
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Article140 2011-11-26 2 H STI 2,643.93 (-33.22) H STI FUTURES 2,644 (-33) H SIMSCI 299.63 (-4.43) H SIMSCI FUTURES 298.70 (-6.10) STOCKS Friday Change KL COMP 1,431.55 -16.44 NIKKEI 225 8,160.01 -5.17 HANG SENG 17,689.48 -245.62 SET 967.18 -13.32 JAKARTA 3,637.19 -58.84 MANILA 4,261.59 +23.94 KOSPI 1,776.40 -18.66 SHENZHEN B 575.60 -3.62140 words
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Article, Illustration629 2011-11-26 4 Siow Li Sen - It’s prepared for economic gloom ahead, saying it’ll support customers with strong balance sheets By Siow Li Sen lisen@sph.com.sg Singapore THE next two years will be tough but Standard Chartered Bank Singapore boss Ray Ferguson is ready for the challenge. He expects the bank’s revenue629 words
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669 2011-11-26 6 Anthony Rowley - By Anthony Rowley bt wo rl d @s p h .co m .sg Tokyo POORcorporategovernanceisattheheartofJapan’s economic decline relative to other countries, the British ex-CEO of the embattled Japanese giant Olympus charged yesterday. Michael Woodford yesterday defended his role as “whistle blower” in helping to669 words
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Article, Illustration923 2011-11-26 8 Neeta Lal - Mukesh’s wife all set to get busier with her induction to the board of East India Hotels By Neeta Lal btworld@sph.com.sg New Delhi NITA Ambani’s recent induction to the board of East India Hotels (EIH) Ltd, which runs The Oberoi and TridentBLOOMBERG FILE PHOTO - 923 words
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Article, Illustration816 2011-11-26 9 Joyce Hooi - saturday soapbox| Joyce Hooi Reporter APPARENTLY, women in the 60s chucked their bras into “freedom trash cans” for nothing, if the latest Deloitte survey on women in the boardroom is to be believed. In Deloitte’s November report, Singapore has to endure the trauma of816 words
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Page 2 Advertisements
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Advertisement57 2011-11-26 2 CONTENTS LIVING Dining L2-4,6 Travel L8 NEWS Top Stories 2-9 Raffles Conversation 10-11 Week in Review 12 Companies 13-15 From The Desk Of 16 Singapore 17-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 39-35 Show Me The Money 33 Househunt 34 Real Estate 35 Shopping L10-12 Gadgets L13 Health57 words
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Page 3 Advertisements
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Advertisement37 2011-11-26 3 B V LG A R I 3^ it* 1/ ■< 4 n \> /I ir y .-r „v Li •Sr I ,il» X X \d cortiricTwatch ION ORCHARD, 65 6509 9218 RAFFLES CITY SHOPPING CENTRE, 65 63 39 918537 words
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Page 4 Advertisements
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Advertisement48 2011-11-26 4 HiSS# m*9 pttT VBBSH rational JS. E5SJ U.olt «HB Kuppersbusch Foster.— 0 irinox [33 |interlubke| Ml COR Live the Quality COLLICTION KHBH 1 1 kitchen culture 2 leng kee road #01-02/05 #01-07 thye hong centre Singapore *****6 t: [65] 6473 6776 f: [65] 6475 6776 e: khl@kitchenculture.com www.kitchenculture.com48 words
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Page 5 Advertisements
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Advertisement260 2011-11-26 5 Asian business leaders nave arrived. Here are two reasons why they'll stay. W SINGAPORE i-ti Ah m m 1 P .vs* 'A CLIVEDEN Va a a I A a Sentosa Cove's only branded condominium with unparalleled concierge service and exclusive berthing facilities. Iconic towers of extraordinary luxury set within expansively260 words
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Page 6 Advertisements
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Advertisement19 2011-11-26 6 PromotionPeriod:Saturday,November26toSunday,January1,2012 AweekendJacquessonchampagne brunchatHostedonThePatiofor perperson $35 THEBUSINESSTIMES th RelaxintranquilsurroundingsatHostedonThePatioandenjoya delectablechampagnebrunch.Everyweekendbrunchsetcomeswitha glassofJacquessonchampagne. Anniversary Address:HostedonThePatio,991BAlexandraRoad,#01-10,Singapore*****0. Forreservations,pleasecallHostedonThePatio at*****337 Notvalidwithotherpromotionsordiscounts.Priceisnotinclusiveoftaxesandsurcharge. Operatinghoursforbrunchis11:30amto2:30pm(onSaturdays)and 10:30amto4:30pm(onSundays). Toenjoythisoffer,pleasepresentthisadtotherestaurant Diningdeals19 words
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Advertisement35 2011-11-26 6 RHEUMATISM? SLEEP ON WATER! A waterbed distributes body-weight evenly and reduces pressure on inflamed joints taking the pain away! FANTASY WATERBEDS SLEEP CENTRE #01-15/16 The Furniture Mall (The Plaza) 7500D Beach Road Tel: 6469-1381 www.fantasywaterbeds.com35 words
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Page 7 Advertisements
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Advertisement1092 2011-11-26 7 thebusinesstimesweekendwww.businesstimes.com.sg SEPTEMBER 24-25, 2011 S$1.00 MICA (P) 121/08/2011 weekend www.businesstimes.com.sg SEPTEMBER 24-25, 2011 S$1.00 MICA (P) 121/08/2011 the raffles conversation CAREER DIPLOMAT BARRYDESKER 12-13 cheap funds Local banks to slash savings ratesDBS Bank, OCBC DBS Bank and UOB will offer amere 0.05 per cent mere come October, even asHSBC and1,092 words
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THE RAFFLES CONVERSATION
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Article, Illustration2053 2011-11-26 10/11 Joyce Hooi - Judith Rodin, president of the Rockefeller Foundation, is transforming the business of philanthropy with impact investing. By Joyce Hooi joyceh@sph.com.sg IF AN old and venerable institution comes to mind, there’s a good chance that Judith Rodin has, at some point, been its president. Or one of its directors.ARTHUR LEE - 2,053 words
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WEEK IN REVIEW/WEEK AHEAD
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THIS WEEK Nov 21-25, 2011
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47 2011-11-26 12 THE shipping sector is set for more bankruptcies and restructuring as it battles challenging operational conditions. Industry watchers predict tougher times ahead with the ongoing shipping downturn thanks to depressed freight rates claiming its latest and most high-profile victim last week.47 words
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65 2011-11-26 12 SINGAPORE may be a relatively small country in terms of population and land area, but its list of admirers is growing steadily and now includes Indian Prime Minister Manmohan Singh. On a visit here on Sunday, he said: “Singapore’s rapid transformation and economic65 words
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65 2011-11-26 12 Growth may slow to a crawl next year or stall SINGAPORE’S economic growth is expected to slow sharply to just 1-3 per cent next year and could stallif the world’s advanced economies slide into recession, the government warned on Monday. That gloomy projection is lower than many economists’ current forecasts65 words
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51 2011-11-26 12 THE Monetary Authority of Singapore may offer more regulatory guidance to the Reit industry in efforts to boost corporate govern- ance standards. It did not highlight specific companies but was responding to criticism that current rules fail to protect the interests of minority51 words
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39 2011-11-26 12 JAPAN’S two leading stock exchanges, the Tokyo Stock Exchange and Osaka Securities Exchange, on Tuesday confirmed their intention to merge and form the world’s third largest exchange in terms of market capitalisation.39 words
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Article, Illustration89 2011-11-26 12 MOST key changes proposed to the corporate governance code remained intact but one was watered down considerably in the final recommendations to the Monetary Authority of Singapore. The Corporate Governance Council has decided to leave it to the nominating committee to decide whetherxxx - 89 words
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38 2011-11-26 12 CHINA’S industrial production has suffered the sharpest fall in output since March 2009, the time when the world was slowly crawling back from the shock of the Lehman Brothers collapse.38 words
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55 2011-11-26 12 TAPPING overseas markets and diversification is what the top three winners of this year’s Enterprise 50 awards believe will help them through the projected slowdown in Singapore’s economic growth. Wah Loon Engineering, which emerged tops this year, believes that its Malaysian operations will55 words
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53 2011-11-26 12 ALREADY facing huge natural catastrophe claims and weak investment returns, insurers have been jolted by greater-than-expected losses from Thailand’s worst flooding in decades. The floods could lead to a stricter assessment of risks in the Asia-Pacific and have sparked speculation that insurance53 words
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Article33 2011-11-26 12 WITH the backing of new parent firm Maybank, the renamed Maybank Kim Eng is gunning for more mandates beyond $1 billion in deal size in investment banking.33 words
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50 2011-11-26 12 THREEexecutives of Japan’sOlympus Corp resigned on Thursday ahead of a boardroom showdown with ousted CEO Michael Woodford, as the British whistleblower said that he would not be surprised if “some criminality” were involved in the scandal engulfing the once-venerable firm.50 words
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47 2011-11-26 12 FOR weeks, Asian banks and businesses have seen their borrowing costs climb as cash-strapped European banks repatriate funds and cut back on loans, knowing full well that this is merely a downpayment on a long and painful shrinking of funding markets.47 words
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Article83 2011-11-26 12 US DATA Nov 28 Oct new home sales Nov 29 Nov consumer confidence Sept FHFA housing price index Nov 30 MBA mortgage index SINGAPORE DATA Nov 29 October producer and int’l trade price indices Nov 30 Q3 average monthly nominal earnings per employee OTHER DATA83 words
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Page 12 Miscellaneous
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Miscellaneous307 2011-11-26 12 CRYPTIC CROSSWORD Across 1 Demonstrates hostility to private accommodation (8) 6 God willing, it’s all right to admit artist and composer (6) 9 It may be recommended as a sun resort (6) 10 Witnesses appear to give it (8) 11 Restoration of features in theatre (8) 12 Go flat out307 words
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COMPANIES
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409 2011-11-26 13 Siow Li Sen - Launch is expected after S’pore, HK investor meetings starting on Monday By Siow Li Sen lisen@sph.com.sg GLOBAL Logistic Properties (GLP) is planning to sell as much as S$500 million of perpetual bonds, building up its war chest while financial markets remain open.409 words
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458 2011-11-26 13 Siow Li Sen - They buy 40% of 3.6b yuan Baosteel issue amid huge demand B y Siow Li Sen lisen@sph.com.sg SINGAPORE investors have fallen in love with renminbi (RMB) bonds, snapping up as much as 40 per cent of Baosteel Group Corp’s mega 3.6 billion458 words
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524 2011-11-26 14 Ronnie Lim - Group says ‘advanced discussions’ are being held with ‘reputable contractors’ By Ronnie Lim ronnie@sph.com.sg HYFLUX, which is developing Singapore’s second and largest desalination plant, “is now in advanced discussions with reputable contractors” to develop the core power portion of the project. But a524 words
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Business briefing
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82 2011-11-26 14 EGG producer Chew’s Group reported that its net profit for the fiscal year ended Sept 30, 2011, fell 56 per cent to $1.35 million, dented by IPO expenses. Revenue grew 15 per cent to $22.06 million due to a rise in the sales82 words
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75 2011-11-26 14 ASCOTT Residence Trust (Ascott Reit) said it has bought 60 per cent of Citadines Shinjuku Tokyo from Mitsubishi Estate Co Ltd and Citadines Shinjuku Ippan Shadan Hojin for about $45.7 million. The balance 40 per cent is held by The Ascott Limited (Ascott).75 words
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69 2011-11-26 14 FIRSTLINK Investments Corporation announced yesterday that it will be delisted from the Singapore Exchange on Nov 30. It said that it will make necessary arrangements for the return of share certificates to all shareholders and warrant certificates to all holders of warrants.69 words
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65 2011-11-26 14 NIDEC Corporation said that two of its Thailand factories hit by the recent flooding had resumed operations in Rangsit and Wangnoi by the end of the third week of this month. Its Bangkadi factory and Nidec Copal’s Pathumthani factory had commenced alternative production at65 words
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45 2011-11-26 14 DESIGN Studio Furniture Manufacturer Ltd, which owns 45 per cent of associate firm DDS Asia Holdings Pte Ltd, has entered into a proposed deal to buy the remaining 55 per cent stake from Depa Interiors LLC for $15.125 million.45 words
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624 2011-11-26 14 Lynn Kan - Lifting of suspension, better cashflow hinge on restructuring plan By Lynn Kan lynnkan@sph.com.sg THE lifting of Transcu Group’s trading suspension and cashflow improvements will rest on Forest Pine Group (FPG), a company in which it will acquire a 20 per cent stake.624 words
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Article, Illustration568 2011-11-26 15 R Sivanithy - stocks| R Sivanithy sivan@sph.com.sg Senior correspondent EUROPE continued to be the focus of world attention this week as borrowing costs for its nations both strong and weak edged higher. Plagued by declining liquidity and weighed down by a near-perfect correlation with all568 words
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Article110 2011-11-26 15 VOL CLOSE GoldenAgri 97,711 67 0.0 0.0 GentingSP 91,599 146.5 -4.0 -2.7 NobleGrp 70,302 105.5 -3.5 -3.2 PSLHldgs 48,403 42.5 -4.0 -8.6 Yangzijiang 24,257 86 -4.5 -5.0 SingTel 21,551 302 -5.0 -1.6 NexGenSCom 17,890 1.2 0.0 0.0 Memstar 16,664 7.5 -0.3 -3.8 ChinaAniH 16,658 26 0.0 0.0110 words
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Article111 2011-11-26 15 Stock name Close Change CapMallsAsia 1.265 -0.025 CapitaLand 2.430 -0.050 CapitaMall 1.755 -0.020 CityDev 9.120 -0.240 ComfortDelGro 1.395 -0.010 DBS Grp 11.930 -0.130 F&N 6.150 -0.040 GLP 1.745 -0.055 Genting SP 1.465 -0.040 Golden Agri 0.670 HK Land 4.550 +0.020 JMH 48.960 -0.190 JSH 28.630 -0.710 Jardine C&C111 words
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522 2011-11-26 15 Conrad Tan - Corporate governance found to be lacking By Conrad Tan conradt@sph.com.sg MIYOSHI Precision has promised to tighten internal controls after an investigation into missing funds and forged signatures on company cheques found its corporate governance lacking. The company, which makes precision metal components, is also trying522 words
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Article129 2011-11-26 15 Kuala Lumpur FINANCIAL group Hwang-DBS (Malaysia) Bhd has not considered a merger with Alliance Financial Group Bhd, the Malaysian Business Times quoted a director of Hwang-DBS as saying yesterday, quashing media speculation about such a move being imminent. “So far the board has not deliberatedReuters - 129 words
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Article62 2011-11-26 15 BY CENTS CLOSE UP DBXT Nifty 10US$ 9134 97.1 0.8 DBXT S&P Short 10US$ 4558 48.6 0.8 DBXT MSINDIA 10US$ 742 15.8 1.6 Lyxor India Nifty 10 1190 14.0 1.2 DBXT MSTHAI 10US$ 1470 13.1 0.7 TCT 160.5 7.5 4.9 Indiabulls 16.9 6.9 69.0 Manhattan Res 97.5 3.562 words
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Article61 2011-11-26 15 BY CENTS CLOSEDOWN DBXT iBoxx SvEu 5US$ *****-3721.0 -11.6 GLD 10US$ ***** -312.4 -1.4 DBXT E50 10US$ 3120 -110.3 -2.6 DBXT MSEurope 10US$ 3681 -108.9 -2.2 JSH 2863 -93.2 -2.4 DBXT MSINDO 10us$ 1367 -82.7 -4.4 CityDev.ES.1111 918 -70.0 -7.1 DBXT MSKorea 10US$ 4905 -56.4 -0.9 DBXT FTChina2561 words
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Page 13 Advertisements
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Advertisement45 2011-11-26 13 hAUS SALE Furnishings Interiors Pte Ltd yp yQ 70% exclusively: m si Kvm rein ■4r linterlubkel 00 R m_ m 1 A DRAENERT JT COLLECTION <W miniforms ff'WSb 390 orchard road #03-04 palais renaissance Singapore *****1 t: 6235 6866 f: 6235 6366 e: info@haus.com.sg www.haus.com.sg45 words
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Advertisement191 2011-11-26 13 INTHE MATTER OF THE COMPANIES ACT (CHAPTER 50) AND INTHE MATTER OF SINGAPORE EXPRESS INVESTMENTS PTE LTD (IN MEMBERS’VOLUNTARY LIQUIDATION) (REGISTRATION NO. *****3498N) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN, in pursuant to Section 308 of the Companies Act, Cap 50, that a Final Meeting of the Members of191 words
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FROM THE DESK OF
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Article, Illustration1134 2011-11-26 16 Dirk Peter van Leeuwen - The most important process is to involve users in formulating governance policies from the desk of Dirk Peter van Leeuwen Vice-President and General Manager, Red Hat Asia Pacific FOR many enterprises looking to increase operational agility, cloud computing increasingly looks to be a more flexible and efficient1,134 words
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SINGAPORE
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539 2011-11-26 17 Nisha Ramchandani - Customers are advised to book venues by up to year ahead, especially for in-demand or weekend dates By Nisha Ramchandani nishar@sph.com.sg SPACE is in high demand these days as Singapore’s meetings, incentive travel, conventions and exhibitions (MICE) industry draws the crowds, with some539 words
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347 2011-11-26 17 Teh Shi Ning - B y Teh Shi Ning tshining@sph.com.sg FIRMS providing financial and insurance services had a good third quarter with double-digit year-on-year growth in revenue, according to just released data, but a recent survey suggests that things may not be as rosy going forward. The347 words
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Article, Illustration253 2011-11-26 17 Michelle Tan - By Michelle Tan michtyz@sph.com.sg THE freehold Olina Lodge will be up for tender once again, at an indicative price of $220 million or $1,544 per square foot per plot ratio (psf ppr), slightly lower than its previous asking price of $225 million253 words
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233 2011-11-26 17 Dolly Chia - By Dolly Chia dchia@sph.com.sg A MICROCHIP that can detect and collect cancer cells from the blood in place of a painful biopsy and contact lenses that could delay the onset of myopia. These are just two of the 12 research projects233 words
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Article, Illustration675 2011-11-26 18 Ven Sreenivasan - ABT Sportsline of Germany opens $1.5m showroom, eyes expansion in S-E Asia, Greater China and Australasia By Ven Sreenivasan ven@sph.com.sg GERMAN car tuning and customisation specialist ABT Sportsline has set up its regional headquarters in Singapore with a $1.5 million investment in itsARTHUR LEE - 675 words
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Article, Illustration52 2011-11-26 18 Michelin-star chef Laurent Peugeot (centre) and two of his guests, Japanese Ambassador Yoichi Suzuki and French Ambassador Olivier Caron, at the launch earlier this week of his first restaurant outside of France, here in Singapore. LP Tetsu at Tanglin Mall reflects his knack for Japanese-French fusion YENYEN MENG JIIN - 52 words
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Article296 2011-11-26 18 AFP ONEASIA chief executive Ben Sellenger yesterday abruptly announced his resignation, two years after setting up the ambitious circuit that sent shockwaves through Asian golf. Mr Sellenger’s decision, which pre-empted any official statement from OneAsia, will inevitably provoke speculation about the health of the organisation,AFP - 296 words
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WORLD
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Article, Illustration445 2011-11-26 19 But govt imposes conditions requiring the firm to keep brewing operations in Australia Reuters Canberra AUSTRALIA’s government approved yesterday SABMiller’s A$11.5 billion (S$14.6 billion) deal to acquire Foster’s Group Ltd under foreign acquisitions laws, but imposed conditions requiring the company to keep brewingReuters - 445 words
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345 2011-11-26 19 Reuters Beijing CHINA’sCommerceMinistry yesterday announced an investigation into US government policy and subsidy support for renewable energy, after a US decision earlier this month to probe sales of Chinese-made solar panels in the United States. The announcement comes after China’s solar industryReuters - 345 words
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285 2011-11-26 19 Sources cite prices at HK$15-HK$21 apiece in HK’s biggest IPO this yr Reuters Hong Kong CHOW Tai Fook Jewellery Group Ltd could raise up to US$2.83 billion in what would be the biggest Hong Kong initial public offering of the year, tapping volatileReuters - 285 words
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Article, Illustration824 2011-11-26 20 Henry Tang and Leung Chun-ying are running neck-and-neck Bloomberg Hong Kong HONG Kong, with Asia’s widest rich-poor gap, will kick off the election for the city’s top job as former chief secretary Henry Tang and government adviser Leung Chun-ying areBloomberg; REUTERS - 824 words
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345 2011-11-26 20 Bloomberg Sydney SAMSUNG Electronics Co urged an Australian appeals court to overturn a ban on the sale of its newest tablet computer in the country, saying the judge who granted Apple Inc’s request for the ban misunderstood the law. Federal Court JusticeBloomberg - 345 words
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320 2011-11-26 20 AFP Tokyo JAPANESE electronics giant Panasonic said yesterday it would build a new solar cell factory in Malaysia, as it looks abroad to cut production costs caused by the surging yen. The company said it would spend 45 billion yen (S$764 million)AFP - 320 words
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Article, Illustration433 2011-11-26 21 Minister dismisses concerns kingdom could hurt itself with the scheme AFP Bangkok THAILAND will not adjust a raft of populist policies, including minimum wage increases and a new rice price scheme, despite fears they could fuel inflation following devastating floods, a minister said. TheAFP; BLOOMBERG - 433 words
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439 2011-11-26 21 Construction, engineering and building materials firms expect surging demand Reuters Bangkok AS water recedes in Thailand’s central provinces after weeks of flooding, construction, engineering and building materials firms are looking forward to a boom in demand for repair and restoration work in both theReuters - 439 words
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231 2011-11-26 21 Reuters Hong Kong US apparel brand Gap Inc said yesterday that it aims to triple its store network in China next year, one of the latest foreign brands to target the country’s consumer spending growth. Redmond Yeung, president of China for Gap, whichReuters - 231 words
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393 2011-11-26 22 But they fear policy’s small print may keep a lid on investment in the short term Reuters New Delhi GLOBAL supermarket chains welcomed a long-awaited invitation from India to invest in the country’s US$450 billion retail market, but they fear the policy’s small printReuters - 393 words
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Article, Illustration405 2011-11-26 22 Discounts and longer hours just to woo US shoppers AP New York THE American holiday shopping season began in earnest yesterday as stores opened at midnight a few hours earlier than they normally do on the most anticipated shopping day of the year. A few retailers even had lines ofAP; AFP - 405 words
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537 2011-11-26 22 Rob Curran - By Rob Curran bt wo rl d @s p h .co m .sg New York THE failure of the Congressional supercommittee this week is another hint that it may take a crisis of eurozone proportions to force through fiscal537 words
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Page 19 Advertisements
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Advertisement49 2011-11-26 19 Check out these positions and five hundred more in CATS Recruit Executive Appointments in The Straits Times now! NanyangTechnologicalUniversity hasvacanciesfor Lecturers ColdStorageisrecruitinga Space Management Officer/ Executive ExxonMobilisrecruiting Contract Administrators PublicServiceDivisionislookingforan Assistant Director, StrategicWorkforce Planning Shangri-LaHotelhasapositionopenfora Director of Human Resources Look out for the Careers in Engineering feature in Recruit49 words
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Page 21 Advertisements
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Advertisement18 2011-11-26 21 VOTE for your favourite restaurant and you could win a 42-inch Smart TV! Findoutmoreatwww.asiaone.com/pca Platinum Sponsor Gold Sponsor18 words
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SGX
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Article9688 2011-11-26 26 Transaction date: Nov 25 52-wks Last Vol Day Last Quote Div GrYld Net M Cap High Low Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 21 11.6 8Telecom 15.5 11.9 15 7.8 3.9 3.2 74.2 9.5 4.1 A-Sonic 4.5 4.3 5.3 2.9 1.7 32.2 65 489,688 words
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Article186 2011-11-26 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 9 1 0 0 0 4 9 1 Manufacturing 30 63 37 4 3 5 34 66 42 Commerce 11 20 17 4 5 3 15 25 20 Tpt/Stor/Comms 4 30 4186 words
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Article810 2011-11-26 26 For week beginning Nov 21 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Lian Beng Grp Ltd 24-Nov-11 Ong Pang Aik Buy 1200 0.35 ***** 3.59 ***** 3.82 Serial System810 words
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Article121 2011-11-26 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 14,049 14,049 42,330 42,330 Manufacturing 140,831 14,049 154,880 113,601 60 113,661 Commerce 116,243 11,453 127,696 116,880 345 117,225 Tpt/Stor/Comms 72,372 21,442 93,814 135,700 2,567 138,266 Finance 13,920 150 14,070 117,608 29 117,638 Construction 65,576 2,389121 words
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MARKETS
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Article82 2011-11-26 27 Nov 24 COCOA (£/tonne) Close Prev High/Low Dec 11 1518 1516 1523/1510 Mar 12 1545 1544 1555/1538 May 12 1560 1558 1566/1555 Jul 12 1576 1574 1578/1571 COFFEE (US$/tonne) Close Prev High/Low Nov 11 1885 1884 1854/1854 Jan 12 1886 1885 1889/1876 Mar 12 1923 1924 1924/1912 May 1282 words
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Article67 2011-11-26 27 Nov 25 GOLD (US$/oz) Nov 23 Nov 25 Hong Kong 1701.*****0.00 Nov 23 Nov 24 London 1679.*****3.35 1380.*****4.35 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 41.95 41.26 Source: UOB PLATINUM Lon (US$/oz) Nov 24 Close Previous PM Fix 1543.*****4.00 AM Fix 1549.*****7.00 Source: Thomson Reuters PLATINUM NYMEX67 words
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Article57 2011-11-26 27 Nov 25 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 11 3119 3118 3119 3090 91 2273 Jan 12 3099 3113 3113 3061 1849 ***** Feb 12 3092 3108 3114 3053 9992 ***** Mar 12 3084 310757 words
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Article77 2011-11-26 27 Nov 25 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****N 23.02.2012 0.31 1-Year BY*****W 01.11.2012 0.31 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 103.28 103.35 103.35 5-Year N*****0W 1.125 01.04.2016 102.4 10-Year NX*****X77 words
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Article154 2011-11-26 27 Nov 25 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2727 1.2744 0.9697 0.9702 Canadian dollar 1.2513 1.2530 0.9534 0.9539 Euro 1.7451 1.7466 1.3296 1.3297 NZ dollar 0.9727 0.9740 0.7411 0.7415 Sterling pound 2.0307 2.0328 1.5472 1.5476154 words
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Article, Illustration128 2011-11-26 27 As on 24 November 2011 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE VOL (in Lots) PRECIOUS METAL GOLD FUT DEC2011 1702.20 1690.70 1695.20 59 SILVER FUT DEC2011 32.140 31.700 31.810 4 CURRENCY AUD-USD FUT DEC2011 .9760 .9679 .9731 2086 EUR-USD FUT DEC2011 1.3410 1.3315 1.3340 ***** GBP-USD FUT128 words
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Article93 2011-11-26 27 Nov 23 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jan 12 1122.*****3.*****8.*****0.50 Mar 12 1131.*****2.*****7.*****0.00 May 12 1140.*****2.*****5.*****7.00 Jul 12 1148.*****0.*****5.*****6.75 SOYBEAN/OIL (60,000 lbs; USc/lb) Close Previous High/Low Dec 11 49.32 50.78 50.77 49.14 Jan 12 49.58 51.03 51.03 49.40 Mar 12 50.00 51.43 51.4393 words
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Article75 2011-11-26 27 Nov 24 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 107.64 0.47 WTI (Near Mth) 97.23 0.71 Dubai (1-Mth F) 105.60 unch Tapis blend 114.49 -0.14 Minas 110.89 -0.14 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 94.22 -0.11 Jet Kerosene 125.85 -1.35 US$/barrel Opec Oil Basket Price75 words
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373 2011-11-26 27 In local curr In S$ In US$ dy yr dy yr dy yr Nov 24 Index Change Change Change Change Change Change World Preliminary 772.1 -0.3 -14.0 -0.2 -12.1 -0.3 -14.1 ‡EAFE Preliminary 637.3 -0.5 -20.4 -0.4 -18.4 -0.5 -20.2 Europe Preliminary 935.3 -0.2 -20.0373 words
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Article119 2011-11-26 27 currency Nov 25 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.298 1.237 Can dollar 1.272 1.224 Euro 1.778 1.71 Sterling pound 2.064 1.985 NZ dollar 0.998 0.951 US dollar 1.331 1.28 Local dollars to 100 units of foreign currency: Currencies119 words
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Article69 2011-11-26 27 Nov 24 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2003.00 2005.75 3 months 2019.00 2024.00 Copper, Grade A (US$/tonne) Cash 7239.75 7213.00 3 months 7265.00 7240.00 Lead (US$/tonne) Cash 1969.25 1981.75 3 months 1992.00 2005.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.0069 words
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Article, Illustration89 2011-11-26 27 YTD change:-17.12% 52-week high: 3,280.77 on Jan 7,2011 52-week low: 2,521.95 on Oct 5,2011 Source: Bloomberg YTD change:-23.21% 52-week high: 24,468.60 on Apr 8,2011 52-week low: 16,170.30 on Oct 4,2011 Source: Bloomberg YTD change: -2.76% 52-week high: 12,876.00 on May 2,2011 52-week low: 10,404.40 on Oct 4,2011 (ChartSource: Bloomberg - 89 words
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PERSPECTIVE
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Article, Illustration1025 2011-11-26 28/29 Paul Aldrich, Pete Metzger - Planting a few of them in the dealing room could be just the acid test that trading systems in banks like UBS need. By Paul Aldrich, Pete Metzger ~Paul Aldrich is managing partner at CTPartners in Hong Kong, an executive search firm. Pete Metzger isAFP - 1,025 words
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Article, Illustration661 2011-11-26 28/29 Dennis Posadas - By Dennis Posadas ~The writer is the author of ‘Jump Start: A Technopreneurship Fable’ (Singapore: Pearson Prentice Hall, 2009) and ‘Rice Chips: Technopreneurship and Innovation in Asia’ (Singapore: Pearson Prentice Hall, 2007) RECENTLY, the International Energy Agency (IEA) released its 134-page reportREUTERS - 661 words
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Article, Illustration347 2011-11-26 28/29 Peter Thal Larsen - By Peter Thal Larsen BREAKINGVIEWS THE eurozone needs a new acronym. For the past three years, PIGS has served as a catchall for the cash-strapped states on the single currency’s periphery. But now that the crisis has moved to the core, a change isREUTERS - 347 words
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Wealth
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WEALTH INVESTING
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Article, Illustration1677 2011-11-26 31 Shane Oliver - The outlook for investment markets remains uncertain in the short term. But if the ECB gets its act together and moves decisively, it would be a very positive sign wealth insights Shane Oliver AMP Capital Investors ~The writer is head of investment strategy and chiefSource: Bloomberg, AMP Capital Investors - 1,677 words
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BROKERS’ TAKE
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309 2011-11-26 31 BUY Nov 25 close: $0.530 DBS Group Research Nov 25 MACQUARIE International Infrastructure Fund (MIIF) is now leaner, fitter and wholly Asia-focused. Over the years, MIIF has divested its non-Asian assets, and repaid corporate level loans with the sale proceeds, rendering a cleaner balance sheet with309 words
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455 2011-11-26 31 Conrad Tan - Compiled by Conrad Tan BUY Nov 25 close: $2.69 OCBC Investment Research Nov 25 SINCE our last report on Nov 8, Singapore Technologies Engineering’s (ST Engineering) share price has fallen 5.3 per cent while the Straits Times Index (STI) declined 6 per cent. This was due to455 words
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Article, Illustration782 2011-11-26 32 Wealth managers are slow to embrace mobile applications for their clients NYT New York AS STOCK markets continue their rollercoaster ride, even investors who profess to adhere to a buy-and-hold strategy have become eager users of mobile technologies that allow them to track theirNYT; AFP - 782 words
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Article, Illustration1405 2011-11-26 33 Teh Hooi Ling - Whatever Reits pay out in dividends, they will take back a few years later in the form of rights issues show me the money| Teh Hooi Ling hooiling@sph.com.sg Senior correspondent ~The writer is a CFA charterholder THEhighyieldsofre-al estate investment trusts (Reits) are tempting. And indeed, they1,405 words
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WEALTH REAL ESTATE
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1129 2011-11-26 34 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 13 LANDED Macpherson Gdn Estate 2-Ter 27/10/2011 FH 1044 1220 1169 NON-LANDED 8 Woodleigh Apt 27/10/2011 991,129 words
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Article, Illustration714 2011-11-26 35 Uma Shankari - Developer ROEs to fall significantly from 2010 to 2112: DMG By Uma Shankari shankari@sph.com.sg Singapore PROPERTY developers in Hong Kong and Singapore look overvalued, said DMG Partners Research in a new report yesterday. “Developer ROEs (return on equity) should fall significantly from 2010 toALPHONSUS CHERN/ THE STRAITS TIMES - 714 words
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Advertisement80 2011-11-26 32 GUIDE TO GEAR: BUY SOME HAPPINESS! in Ti r i v SINGAPORE S NO. 1 MEN'S MAGAZINE Our Biggest Issue Ever! > n 106 NEW MOVES GETH LOOKBl [INSTANTL BEAT* TOREVERI isln! RIOTOUS SEX EVERY NIGHT! Pone Men'sHealth; WHILE YOU SLEEP GET A BODY LIKETHIS IN UNDER 30MINS! MENSHEALTH.COM.SG URBANATHLON80 words
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Advertisement49 2011-11-26 36 M AUDEMARS PIGUET Le maitre de I'horlogerie depuis 1875 N v 4 m I \\V tu, HI ie F ■v W\ 1 fc. (4 w I -im < .M* //>: VJt ,f; iv-'" 'i. F r JULES AUDEMARS t TOURBILLON, MINUTE REPEATER AND CHRONOGRAPH For enquiries, Tel: (65) 6238 667849 words
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Advertisement49 2011-11-26 1 LivingTHEBUSINESSTIMESWEEKEND|NOVEMBER26-*****1BTTHE BUSINESS TIMES WEEKEND NOVEMBER 26-27 2011 TRAVEL Class warfare L8 SHOPPING Back-to-Black deals L10-12 GADGETS Supersize me L13 THE TIPPLING POINT The art of mixology is raising its profile here GOLF Coming to the fore L17 MOTORING Big bull let loose L20 HEALTH Happiness and your heart L1549 words
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BT Living
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DINING
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Article, Illustration2713 2011-11-26 2/3 Melissa Lwee-Ramsay - Melissa Lwee-Ramsay speaks to three bartenders to discover more about mixology’s rising profile here Melissa Lwee-Ramsay mellwee@sph.com.sg SINGAPORE’S cocktail scene is buzzing. Considering it has been less than three years since the now-defunct speakeasystyled Klee showed tipplers there was more to a cocktail than a lychee martini,PHOTO BY YEN MENG JIIN - 2,713 words
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SHOPPING
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Article, Illustration916 2011-11-26 5 Marks Spencer has opened a flagship store on Paris’ Champs-Elysees after a decade’s absence from French soil Reuters Paris THE French may scoff at British cooking and fashion, but retailer Marks Spencer (M&S) reckons Parisians are yearning for its ready-made chicken tikka masala, gourmet chutney, and sensibleReuters; PHOTOS: REUTERS, AFP - 916 words
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Article37 2011-11-26 10/11 It’s the Thanksgiving weekend the world has been waiting for and online sales started yesterday on Black Friday and will run till Cyber Monday. BT Weekend susses out the must-buys to truly give thanks for37 words
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Article, Illustration618 2011-11-26 10/11 Christopher Lim - By Christopher Lim limchris@sph.com.sg Shipping from the US: comGateway WHEN it comes to buying stuff online fromshops intheUnitedStates thatdon’t officially ship to Singapore, transhippers who receive your orders in the US and then ship them to Singapore are the way to go. Among these middlemen,618 words
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Article, Illustration598 2011-11-26 10/11 Dylan Tan - By Dylan Tan dylantan@sph.com.sg WITH less and less brick-and-mortar CD and DVD shops in Singapore, movie and music buffs here have started to turn to online retailer Amazon.com because it stocks practically every title under the sun. Sure there’s a one-to-two-week wait for your598 words
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Article, Illustration607 2011-11-26 12 Natalie Koh - By Natalie Koh natksl@sph.com.sg Barnes Noble No matter how good the discounts, shipping costs always seem to dampen buys from overseas sites. But to get the best out of Barnes Noble’s 50 per cent discounts off books (including some bestsellers), DVDs, Blu Rays,607 words
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Article, Illustration216 2011-11-26 12 Melissa Lwee-Ramsay - By Melissa Lwee-Ramsay mellwee@sph.com.sg Fashion: Opening Ceremony The “go to” destination for fashionistas looking for cool threads, American concept store Opening Ceremony is a great place to discover emerging designers from around the globe. While there may not be an outlet here in216 words
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Article, Illustration458 2011-11-26 6 Show the man in your life how fine a figure he cuts in a T.M.LEWIN suit SPECIAL FEATURE THERE is something very appealing about a man wearing a well-cut suit which in turn, means that a nice new suit would make a great Christmas gift for that man458 words
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TRAVEL
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Article, Illustration1059 2011-11-26 8 Jad Mouawad - Airlines are ramping up their first class offerings in an effort to woo the superwealthy. By Jad Mouawad NYT THE gap between first class and economy has never been so wide. Carriers on international flights are offering private suites for first-class passengers, three-star meals, and personal service onceNYT; PHOTOS: AP - 1,059 words
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GADGETS
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Article, Illustration495 2011-11-26 13 Christopher Lim - Christopher Lim recommends three gadgets to plus-size your entertainment experience Christopher Lim Asus Eee Slate ($1,699) TABLETS are wonderfully portable presentation devices, but what happens when the 10-inch touchscreens of the world still aren’t big enough for that huge presentation you want to show off? You need an495 words
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HEALTH
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Article, Illustration847 2011-11-26 14 Cheah Ui-Hoon - Educationist Sharon Sophie Solomon aims to teach children to use knowledge flexibly.By flexibly.By Cheah Ui-Hoon uihoon@sph.com.sg AN ideal school would be a place where children can learn according to their own pace and their abilities, and where the emphasis is on holistic learning of both body andYEN MENG JIIN - 847 words
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Article, Illustration1242 2011-11-26 15 Michael Lim - Can happiness bring better health and longer lives? Data from scientific research seem to suggest so. By Michael Lim The writer is medical director at Heart, Stroke Cancer Centre. He is also editor-in-chief, Heart Asia, British Medical Journals Publishing Group chairman, Scientific Advisory Board, Asia PacificSTOCK.XCHNG - 1,242 words
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SPORT
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Article, Illustration653 2011-11-26 16 Lee U-Wen - no holds barred Lee U-Wen leeuwen@sph.com.sg Deputy Foreign Editor FOR all the talk about which Manchester club City or United will emerge champions of England this season, there are now the faintest of whispers that a London club could well gatecrash the party and sweepAFP - 653 words
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Article, Illustration446 2011-11-26 16 colette wong - Tiger’s roar returns but will it stay? tee off with colette wong THE golfing community is abuzz with chatter that Tiger Woods is returning to the kind of form that won him a stunning 14 Majors and 71 PGA Tour titles. Earlier this week, the headlines around the world screamed,AFP - 446 words
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GOLF
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Article, Illustration1243 2011-11-26 17 Justine Moss - France and Colombia are not readily associated with golf but as the game gains popularity in these countries, we will see more pros and winners from there. By Justine Moss btnews@sph.com.sg WHEN Thomas Levet won the Cannes Open in 1998, he became only the second Frenchman1,243 words
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MOTORING
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Article, Illustration665 2011-11-26 18 Samuel Ee - The second-generation BMW 1 Series hatchback continues with its tradition of unconventionality in a bigger body. By Samuel Ee samuelee@sph.com.sg THE BMW 1 Series hatchback has always been an unusual proposition, not only for having rear-wheel-drive but also for its unconventional looks. Compact hatchbacks on the market are665 words
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Article, Illustration694 2011-11-26 19 Samuel Ee - The new-generation 911 is the fastest, most economical and most comfortable one yet. By Samuel Ee samuelee@sph.com.sg HOW does one update an icon? According to Porsche, very carefully. The German sports car maker says the styling of its iconic 911 coupé underwent a “cautious but rigorous evolution”. As694 words
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Article, Illustration775 2011-11-26 20 CY Chew - The Aventador, Lamborghini’s latest V12-engined supercar, rages to 100 kmh in a scant 2.9 seconds. By CY Chew btnews@sph.com.sg HOW can anyone possibly be disappointed when there is 700 hp and a shape to die for? These two qualities are all that's needed for a great775 words
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Advertisement803 2011-11-26 6 wine&dine with BTWeekend Triple Three Level 5, Mandarin Orchard Singapore, 333 Orchard Road Z6831 6288 Named after the address of the hotel 333 Orchard Road, Triple Three showcases a sumptuous international buffet spread with over 128 culinary delights and 10 LIVE cooking stations. In addition to the freshest Sashimi and803 words
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Advertisement37 2011-11-26 7 0 I y <r f m you inura .W JAY GEE MELWANI GROUP established 1883 Available at: RAFFLES CITY #01-22 ION ORCHARD #B1-20 ORCHARD CENTRAL #01-08A SUNTEC CITY MALL #01-32 VIVOCITY #01-190 CHANGI AIRPORT TERMINAL 2 #026-10737 words
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Advertisement112 2011-11-26 9 /VVSNTAGs un. u Blu-ray Hall in Vienna -ss »vm P40UWi VCJLUMt bV ssfcrV\. I #5 m <■> TB.v- r,' v<ra ;W Yamaha's line of AVENTAGE AV Receivers have a unique advantage that gives them ultra-high, rock-solid performance: the Anti Resonance Technology (A.R.T.) Wedge. This fifth leg in the centre of112 words
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Advertisement26 2011-11-26 13 WATS CLASSIFIED M' 1 Beat the heat with new air-conditioners. To find out more, turn to CLASS 90 in CATS Classified in The Straits Times now.26 words
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