The Business Times, 5 January 2013
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2013-01-05
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The Business Times
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Title Section20 2013-01-05 1 weekend THE BUSINESS TIMES www. usinesstimes.com. g JANUARY 5-6, 2013 S$1.00| MICA (P) 075/08/2012 Sfh A SINGAPORE PRESS HOLDINGS PUBLICATION20 words
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23 2013-01-05 1 TURBULENCE AUSTRALIAN Competition Consumer Commission chairman Rod Sims expresses reservations, describing the Virgin-Tiger merger as ‘complicated’. 223 words
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Article29 2013-01-05 1 TURNAROUND DROP promises to dramatically boost exports as the extraordinary upswing in Japan’s financial fortunes stocks are at a 22-month high continues. 329 words
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Article29 2013-01-05 1 TESTING A COMMITTEE has been formed to study the viability of setting up an international commercial court here, says Chief Justice Sundaresh Menon. 429 words
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35 2013-01-05 1 TIMING GROUP chief investment officer Ng Kok Song will become an adviser of the group from Feb 1 and will be succeeded by his deputy, Lim Chow Kiat. 635 words
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Article, Illustration1114 2013-01-05 1 Nisha Ramchandani - Singapore expected to meet 2012 targets, but outlook for first half of this year seems muted By Nisha Ramchandani nishar@sph.com.sg Singapore AFTER charging at breakneck speed in recent years, the gravy train to tourism gold is finally slowing down. Signs of weakening growth werePHOTO: AFP - 1,114 words
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643 2013-01-05 1 LATEST US DATA Reuters Washington THE pace of hiring by US employers eased slightly in December, pointing to a lacklustre pace of economic growth that was unable to make further inroads in the country’s still high unemployment rate. Payrolls outsideReuters - 643 words
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Page 1 Advertisements
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Advertisement20 2013-01-05 1 the business www. usinesstimes.com. the raffles conversation FOUR SEASONS CEO KATHLEEN TAYLOR 10-11 LIVING Dining in Lima a L2 -3-20 words
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Advertisement16 2013-01-05 1 SHOW ME THE MONEY Tracing the arc of skill 33 CEOS’ HAWKER CHOICES Tasty porridge L10-1216 words
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TOP STORIES
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MARKETS
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Article59 2013-01-05 2 GSTI 3,225.22 (+0.42) ESTI FUTURES 3,225.00 (unch) HSIMSCI 365.03 (-0.37) HSIMSCI FUTURES 365.10 (-1.00) STOCKS Friday Change KL COMP 1,692.58 -0.07 NIKKEI 225 10,688.11 +292.93 HANG SENG 23,331.09 -67.51 SET 1,416.66 +8.25 JAKARTA 4,410.02 +10.76 MANILA 5,971.45 +37.40 KOSPI 2,011.94 -7.47 SHENZHEN B 737.51 +26.28 MUMBAI IND 19,784.08 +19.3059 words
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Article29 2013-01-05 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 14.433 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.54 INDIA 14.50 PHOTO: Bloomberg29 words
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Article48 2013-01-05 2 US$ S$ US$ (S$ per US$) 1.229 (US$/S$ per 1.606 1.974 EURO(US$/S$/€) 1.301 1.599 Foreign currency per US$ S$ YEN 88.10 71.70 RM 3.049 2.480 HK$ 7.751 6.306 BAHT 30.48 24.80 RUPIAH 9,675 7,870 RENMINBI 6.231 5.068 INDIAN RUPEE 55.01 44.75 A$ 0.959 0.780 NZ$ 1.215 0.98848 words
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Article, Illustration659 2013-01-05 2 Ven Sreenivasan - Aussie regulators regard the Virgin-Tiger merger as a ‘very complex equation’ By Ven Sreenivasan ven@sph.com.sg Singapore AUSTRALIAN competition regulators may scupper Tiger Airway Holdings’ bid to sell its majority control in Tiger Australia to Virgin Australia (VA). The Australian CompetitionPHOTO: AFP - 659 words
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Article, Illustration648 2013-01-05 3 Anthony Rowley - Developments help to lighten new PM Abe’s job of fighting deflation By Anthony Rowley btworld@sph.com.sg Tokyo THE extraordinary upswing in Japan’s financial fortunes continued yesterday as markets reopened in Tokyo to witness the yen plunging to a 2½-year lowPHOTO: BLOOMBERG - 648 words
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Article, Illustration1115 2013-01-05 4 Grace Leong - It’s one of the issues highlighted by the CJ at the opening of the new legal year By Grace Leong gleong@sph.com.sg Singapore PROPOSALS for the establishment of a Singapore International Commercial Court, enhancing the standing of the Subordinate Courts, and getting largerFILE PHOTOS - 1,115 words
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Article, Illustration647 2013-01-05 5 Grace Leong - Senior Counsel emphasises rule of law and fundamental rights and liberties Reports by Grace Leong gleong@sph.com.sg Singapore MAKING sure that access to justice remains available to the common man is even more significant now in the face of Singapore’s rapidly changing legal landscape,FILE PHOTOS - 647 words
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Article, Illustration451 2013-01-05 5 LAW Society president Lok Vi Ming yesterday called on more foreign lawyers here to focus on sinking deeper roots and to do more pro bono work. Giving his maiden speech at the opening of the new legal year at the Supreme Court, he noted that451 words
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Article, Illustration513 2013-01-05 6 Lee Mei Xian - He will be an adviser after relinquishing chief investment officer post By Lee Mei Xian leemx@sph.com.sg Singapore THE Government of Singapore Investment Corporation’s (GIC) group chief investment officer (GCIO) Ng Kok Song will be retiring after 42 years in the management of513 words
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Article, Illustration658 2013-01-05 6 Bloomberg Washington FEDERAL Reserve officials, expressing concern over their swelling balance sheet, began debating an end to their unprecedented bond-buying as early as this year even while preparing to boost stimulus to a new record. “Several” members of the Federal Open MarketBloomberg; PHOTO: REUTERS - 658 words
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656 2013-01-05 8 Ong Chor Hao - KPMG report shows that firms hope Budget 2013 will bring them relief from labour restrictions, rising costs By Ong Chor Hao ongch@sph.com.sg Singapore COMPANIES here are hoping that Budget 2013 will bring them some relief from labour constraints and rising business costs,656 words
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Article, Illustration501 2013-01-05 8 Lee U-Wen - By Lee U-Wen leeuwen@sph.com.sg Singapore PROFESSIONAL athletes are often told to just concentrate on their sport and leave everything else, including their finances, to others to manage. But this doesn’t hold water for tennis champion Roger Federer, who insists that athletes should take an active interest inPHOTO: CAROLINE CHIA/THE STRAITS TIMES - 501 words
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Page 2 Advertisements
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Advertisement62 2013-01-05 2 CONTENTS NEWS Top Stories 2-8 Week in Review 9 Raffles Conversation 10-11 Companies 12-15 From the Desk of 16 Singapore 17-18 World 19-22 Stocks Stats 23-27 Perspective 28-29 Wealth 30-35 Show Me The Money 33 House Hunt 34 LIVING Destination Dining L2-3 Travel L4-5, 9 Living L6-8 CEOs’ Hawker Choices62 words
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Page 3 Advertisements
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Advertisement172 2013-01-05 3 ODD CLASS BUNGALOW FOR SALE CALDECOTT ***** sf. Face nature reserve, quiet private. Nice land. $21,8M CLUNY *****/ 9000 sf. 3 min walk to Botanies Gdn ENG NEO AVE ***** sf. Beautiful tropical house. EWART PK ***** sf. Beautiful modern house FORD AVE 1 8000 sf Hilltop designer decor wide172 words
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Page 5 Advertisements
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Advertisement92 2013-01-05 5 jt MATS NOTICES LOST SHARE CERTIFICATE(S) Notice is hereby given that the following share certificates have been reported lost:ASIA PACIFIC BREWERIES LIMITED (Incorporated in the Republic of Singapore) FRASER NEAVE, LIMITED (Incorporated in the Republic of Singapore) Notice is hereby given that new share certificates will be issued and the92 words
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Page 7 Advertisements
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Advertisement79 2013-01-05 7 BUYING OR RENTING A PROPERTY? We'll reward you with $888! Visit www.STProperty.sg/deal2win now for more information. Hurry, you have until 31 March 2013 to be one of our 8 lucky winners!' I vm m u W*y tel 52 J i 2 2 Z! B 5! ft -t 'Terms conditions apply79 words
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Page 8 Advertisements
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Advertisement18 2013-01-05 8 The Finder Singapore The Essential Expat Magazine FREE DOWNLOAD Available On The App Store JANUARY ISSUE OUT NOW!18 words
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WEEK IN REVIEW
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THIS WEEK Dec 31-Jan 4
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55 2013-01-05 9 THERE are some signs of hope in Washington that Democratic and Republican lawmakers would be able to avert a full-blown fiscal crisis by reaching a deal before the Jan 1 deadline on extending the current tax cuts for all Americans, with55 words
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47 2013-01-05 9 US companies such as Apple are shipping at least some of their overseas manufacturing operations back home to America. And it’s no wonder: The gap between what they pay workers in Singapore and what they pay in the US has narrowed considerably.47 words
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67 2013-01-05 9 THE Singapore economy expanded by just 1.2 per cent in 2012, below the government’s most recent forecast that full-year growth would come in at around 1.5 per cent. Revealing the year’s final Gross Domestic Product growth figure in his annual New Year message, Prime67 words
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55 2013-01-05 9 IT was a bull run in the year of the Dragon. Powered by beer froth, a resilient banking sector, conglomerate powerhouses and resurgent property stocks, the Singapore market rose 24 per cent in 2012 to an all-time high of $887 billion in55 words
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51 2013-01-05 9 THE Fraser and Neave takeover story squeaks through a final twist before the year-end. F&N’s independent financial adviser JPMorgan (SEA) yesterday found Kirin Holdings’ $2.7 billion offer for F&N’s food-and-beverage business to be “fair but not reasonable, from a financial point of51 words
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70 2013-01-05 9 A LEGISLATIVE fix to patch up America’s fiscal crisis was to be taken up by lawmakers in the Republi-can-controlled House of Representatives after passing the Senate. The White House and top Republicans struck a deal after dramatic 11th-hour negotiations to avert huge70 words
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52 2013-01-05 9 INITIAL public offering activity is set to pick up in 2013: there is a queue of companies waiting to list this year, many of them in the consumer, retail and healthcare sectors, as well as business trusts and real estate investment trusts, say52 words
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53 2013-01-05 9 THE much-touted technical recession did not materialise after all, even though fears of one continue to linger. Defying expectations, flash estimates show that the economy grew 1.8 per cent in the fourth quarter of 2012 from the previous quarter, in seasonally53 words
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Article, Illustration116 2013-01-05 9 THE US House of Representatives passed a bill undoing income tax increases for more than 99 per cent of households, handing a victory to President Barack Obama, even as Republicans vowed to fight him in coming weeks for spendingPHOTO: AP - 116 words
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47 2013-01-05 9 DESPITE the curbs on housing loan tenure introduced in Octo- ber, the Urban Redevelopment Authority’s private-home price index flash estimate in Q4 galloped at its fastest clip in six quarters, driven by rising prices of mass-market condos.47 words
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Article52 2013-01-05 9 AMID an ongoing probe by regulators on how benchmark rates are set, at least two banks have taken action after internal reviews. Sources told BT that in the last few months, OCBC Bank and UBS AG have put a few of their employees on52 words
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44 2013-01-05 9 CAPITALAND is reassessing its commercial and residential investments in the United Kingdom, India, and Gulf Cooperation Council nations, as well as its investment in Australand, as it simplifies its corporate structure into four core businesses to streamline its focus.44 words
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Article82 2013-01-05 9 US DATA Jan 8 Nov consumer credit Jan 10 Nov wholesale inventories Jan 11 Nov international trade Dec import/export prices SINGAPORE DATA Jan 7 Dec international reserves EVENTS Jan 8 Launch of World Economic Forum’s Global Risks 2013 at Davos Jan 9 OECD Mexico Forum: Public82 words
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Page 9 Miscellaneous
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Miscellaneous282 2013-01-05 9 Across 1 Leaped above oneself? (6,2) 6 Cut it and keep quiet (6) 9 Two men cut down prey (6) 10 Evocative of European river ebbing fast (8) 11 Knots of painters? (8) 12 She and men get involved and become engaged (6) 13 Speed check (12) 16 Holy orders?282 words
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Miscellaneous11 2013-01-05 9 SATURDAY with Ludwig ‘Just love the sharp rise in Q1 201211 words
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THE RAFFLES CONVERSATION
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Article, Illustration2554 2013-01-05 10 / 11 Nisha Ramchandani - Four Seasons Hotels and Resorts CEO Kathleen Taylor has been instrumental in the hotel operator’s global growth for over 23 years. By Nisha Ramchandani By Nisha Ramchandani nishar@sph.com.sg AS corporate counsel for Four Seasons Hotels and Resorts, Kathleen Taylor was instrumental in crafting deals that helpedPHOTO: ARTHUR LEE - 2,554 words
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COMPANY NEWS
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Article, Illustration572 2013-01-05 12 Nisha Ramchandani - Total cost of US$72.4m for Angsana Velavaru; deal comes with leaseback arrangement By Nisha Ramchandani nishar@sph.com.sg Singapore CDL Hospitality Trusts (CDLHT) is acquiring Banyan Tree Holdings’ Angsana Velavaru resort in the Maldives for a total cost of US$72.4 million to capitalise on the strong572 words
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477 2013-01-05 12 Mindy Tan - By Mindy Tan tanmindy@sph.com.sg Singapore ANALYSTS are largely sanguine about CapitaLand’s decision to simplify its corporate structure and reassessing various overseas investments. But the property company’s stock, which on Thursday rose 8 cents to $3.84 on news of the group’s477 words
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Article, Illustration289 2013-01-05 12 Andrea Soh - By Andrea Soh sandrea@sph.com.sg Singapore CNMC Goldmine’s shares shot up at the opening bell yesterday on news that the company’s new gold extraction facilities have started production. The stock opened at 41 cents, then surged to 52 cents before closing at 44 cents for a 13-cent,289 words
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Article, Illustration561 2013-01-05 13 R Sivanithy - STOCKS R Sivanithy sivan@sph.com.sg Senior Correspondent PENNY stocks and the US fiscal cliff provided the main features of trading towards the end of last year, and both have once again been front and centre of the action in the first days561 words
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Business briefing
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67 2013-01-05 13 SEMICONDUCTOR test and advanced packaging service provider STATS ChipPAC expects net revenues for the fourth quarter of 2012 to be about US$475 million to US$482 million, an increase of 16-18 per cent compared to the prior quarter. This is due to higher67 words
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88 2013-01-05 13 CHINA Energy was queried by Singapore Exchange yesterday over a substantial increase in its share price. The fuel produc- er gained 58.8 per cent or five cents to close at 13.5 cents. In its reply, China Energy said that it has88 words
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56 2013-01-05 13 BIOSENSORS International Group has set up an $800 million multicurrency medi-um-term note (MTN) programme. The medical devices maker said the note issues may be used to “fund new business opportunities, refinance existing borrowings and finance investments (including capital ex- penditure) and working capital requirements56 words
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90 2013-01-05 13 HOME appliance maker Casa Holdings received a qualified audit opinion from its auditor Nexia TS. Nexia said it could not obtain sufficient evidence to ascertain the carrying amount of the group’s investment in its Malaysia-listed unit Fiamma Holdings as at Sept 30, 2012, and90 words
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Article201 2013-01-05 13 VOL CLOSE MDR 1 ,034,491 1 8 0 2 12 5 E l ektromot i ve 518,818 0 4 0 1 33 3 ICP 433,112 0 4 0 1 33 3 MDR W*****5 424,760 1 3 0 3 30 0 TT Intl 366,080 18 6 1 1201 words
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Article60 2013-01-05 13 BY CENTS CLOSE UP DBXT MSUSA 10US$ 3570 105.7 2.5 DBXT MSCHINA 10US$ 1278 65.1 4.3 DBXT FTVietnam 10US$ 2300 59.0 2.1 Lyxor AsiaRE 10US$ 1073 38.1 3.0 DairyFarm 1114 32.0 2.4 JMH 6350 24.6 0.3 DBXT MSINDO 10us$ 1533 20.9 1.1 Hyflux 6% CPS 10 ***** 15.060 words
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Article58 2013-01-05 13 BY CENTS CLOSEDOWN GLD 10US$ ***** -496.5 -2.5 DBXT MSKorea 10US$ 6235 -109.4 -1.4 CIMBAsean40 100US$ 1108 -49.2 -3.5 DBXT CSI300 10US$ 824 -49.2 -4.6 CIMBASEAN40 100S$D 1368 -29.0 -2.1 Lyxor China H 10US$ 1549 -23.4 -1.2 DBXT S&P Short 10US$ 3417 -18.4 -0.4 BMT 505 -15.0 -2.958 words
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Article107 2013-01-05 13 Stock name Close Change CapMallsAsia 2.110 +0.050 CapitaLand 3.800 -0.040 CapitaMall 2.120 -0.010 CityDev 12.980 -0.080 ComfortDelGro 1.800 +0.015 DBS Grp 14.920 +0.080 F&N 9.640 -0.020 GLP 2.770 Genting SP 1.465 -0.005 Golden Agri 0.665 +0.010 HK Land 7.110 +0.020 IHH Healthcare 1.380 +0.010 JMH 63.500 +0.200 JSH107 words
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335 2013-01-05 13 Teo Si Jia - By Teo Si Jia teosj@sph.com.sg Singapore FULL banks and finance companies taking in deposits from individuals, charities and companies will now have to standardise disclosure statements on the $50,000 protection limit provided by the Singapore Deposit Insurance Corporation (SDIC) under the Deposit335 words
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Article, Illustration676 2013-01-05 14 Cai Haoxiang - The bank’s Singapore research team sees China as a bright spot this year By Cai Haoxiang haoxiang@sph.com.sg Singapore GIVEN an expected slowdown in Singapore, investors should go for companies and sectors exposed to global growth, with China a bright spot, DBS Group Research saidPHOTO: AFP - 676 words
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358 2013-01-05 14 Jasmine Ng - By Jasmine Ng jasng@sph.com.sg Singapore ANALYSTS at OCBC and Maybank Kim Eng raised their price targets for OSIM International, Asia’s biggest maker of massage chairs, on expectations of China’s economic recovery and new product launches. OCBC has revised its target price upwards to $2.14358 words
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Article, Illustration1049 2013-01-05 15 Grace Leong - Factors cited include economic outllook, controls and reliance on foreign visitors By Grace Leong gleong@sph.com.sg Singapore SEVERAL analysts have revised downwards their 2013 growth estimates for the Singapore gaming industry, citing a still soft global and regional economic outlook and continuedPHOTO: REUTERS - 1,049 words
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Page 14 Advertisements
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Advertisement52 2013-01-05 14 Hong Kong Science Technology Parks is looking for a Chief Executive Officer Nuance-Watson Singapore is hiring Retail Managers OCBC Bank is recruiting Trainee Equities Dealers HGST has positions open for Engineering Technicians Process The NTUC FairPrice Group has vacancies for Team Leaders Check out more than 400 positions available in52 words
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FROM THE DESK OF
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Article, Illustration862 2013-01-05 16 Arvind Agarwalla - Successful adoption can improve decision-making, minimise risks and unearth valuable insight for businesses FROM THE DESK OF Arvind Agarwalla CEO, FACT Software TWENTY five years ago in India, as I sat behind my desk at the loss-making petrol station in Calcutta, I felt completely overwhelmed. Overwhelmed862 words
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SINGAPORE NEWS
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649 2013-01-05 17 Ronnie Lim - German player also looking at operating the S$890 million first phase of Jurong Rock Cavern here By Ronnie Lim ronnie@sph.com.sg GERMANY’S Oiltanking, which this week completed its US$285 million acquisition of listed Chemoil Energy’s Helios Terminal, said that the Helios fuel oil649 words
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Article, Illustration220 2013-01-05 17 SINGAPORE and Turkey will open negotiations on a free trade agreement (FTA) to further the two countries’ political and economic relations, Foreign Affairs Minister K Shanmugam said yesterday. Speaking at the annual Turkish Ambassadors’ Conference in Ankara, Turkey, he said that such an220 words
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356 2013-01-05 17 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg INVIRAGEN Inc is selling the rights to its Japanese encephalitis (JE) vaccine technology to Viet-nam-based The Company for Vaccine and Biological Production No 1 (Vabiotech) which will develop a cell-derived vaccine. Under the terms of the licensing agreement, Vabiotech356 words
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Article, Illustration662 2013-01-05 18 Teo Hoong Chen - Operations and management aspects of F&B business need to be dealt with in methodical ways, they share By Teo Hoong Chen teohgcn@sph.com.sg FOOD and beverage (F&B) entrepreneurs should adopt a scientific approach to managing their operations, rather than rely on “gut feel” forBT FILE PHOTO: JOHN HENG - 662 words
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Briefing
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89 2013-01-05 18 SINGAPORE Polytechnic has joined hands with IBM and SMRT to introduce a Diploma in Engineering Systems. Through the programme, students will learn to design engineering processes for the energy, healthcare, logistics, manufacturing, telecommunication and transportation industries. The course integrates89 words
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75 2013-01-05 18 HOME-GROWN German bar and restaurant Brotzeit has named Jason Tan, former senior manager at International Enterprise (IE) Singapore, its new director of franchise development. He will be responsible for liaising with potential franchise investors and creating business opportunities. The75 words
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63 2013-01-05 18 THE National University of Singapore (NUS) and Temasek Foundation have launched a programme to facilitate the learning of English among university students in Thailand for economic and communication purposes. The programme, in collaboration with Thailand's Ministry of Education, has received a63 words
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Article59 2013-01-05 18 AirAsia Expedia, the collaboration between AirAsia and online travel company Expedia, has appointed the budget airline’s group head of commercial, Kathleen Tan, as its new CEO. She will be in charge of the businesses of the Expedia brand, AirAsiaGo, and Backick online travel agency in59 words
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Page 17 Advertisements
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Advertisement32 2013-01-05 17 voTouK^^S $2Xm;j9xxxsf.6 a s r ta C r! VI0W PANOT‘"IC VIEW. Check this out and many other properties in CATS Classified in The Straits Times now! BEATS BUY IT-SELL IT FIND IT32 words
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WORLD
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679 2013-01-05 19 Taiwanese firms also fined for price-fixing, following US, Europe in crackdown AP Beijing CHINA fined South Korean and Taiwanese makers of LCD display screens US$56 million yesterday for price-fixing, joining the United States and Europe in a crackdown on the industry. SuppliersAP - 679 words
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Article, Illustration394 2013-01-05 19 Reuters Paris BOOKS-TO-MUSIC retailer Virgin Megastore’s French operation plans to declare itself insolvent next week, the latest victim of an industry-wide slump in CD and DVD sales as consumers download more film and music online. The plan comes as high streetReuters; PHOTO: AFP - 394 words
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290 2013-01-05 19 AFP San Francisco INDUSTRY tracker comScore on Thursday reported that US shoppers spent a total of US$42.3 billion online during the year-end holiday season a 14 per cent jump from the same period in 2011. “The 2012 online holiday season was once again aAFP - 290 words
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527 2013-01-05 20 Wegelin confesses to helping rich Americans stash away US$1 .2b in secret accounts over a decade NYT New York SWITZERLAND’S oldest private bank has admitted to helping Americans evade US taxes, the first time a foreign financial institution has pleaded guilty to taxNYT - 527 words
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Article, Illustration591 2013-01-05 20 Reuters Beijing AUTOMAKERS in China are bracing for another year of tepid single-digit growth in 2013, weighed down by sluggish demand for Japanese cars amid a diplomatic row between the two regional neighbours and government measures intended toReuters; PHOTO: REUTERS - 591 words
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Briefing
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74 2013-01-05 21 Bloomberg Frankfurt German retail sales rose in November as unemployment close to a two-decade low encouraged spending. Sales, adjusted for inflation and seasonal swings, increased 1.2 per cent from October, when they dropped 1.3 per cent, the Federal Statistics Office in Wiesbaden saidBloomberg - 74 words
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107 2013-01-05 21 Bloomberg Los AngelesAl Gore, who shared the 2007 Nobel Peace Prize for his fight against global warming, may gross about US$70 million from the sale of his Current TV network to Al Jazeera, the cable channel funded in part by oil-richBloomberg - 107 words
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65 2013-01-05 21 AFP San Francisco The first film based on the life of legendary Apple co-founder Steve Jobs will be released in April, according to a distribution deal for “jOBS” announced on Thursday. The “biopic” starring Ashton Kutcher as Jobs, who died in 2011,AFP - 65 words
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58 2013-01-05 21 Bloomberg Sydney Wildfires are sweeping through parts of rural Australia as the biggest heatwave since 2001 spreads across the nation bringing near-record temperatures. The Country Fire Service in South Australia raised a “catastrophic” danger alert for three districts, the highest rating that indicates homes wouldBloomberg - 58 words
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575 2013-01-05 21 FTC decision troubles competitors which fear that Google will now be even more aggressive NYT Washington THE Federal Trade Commission on Thursday handed Google a major victory by declaring, after an investigation of nearly two years, that the company hadNYT - 575 words
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Article, Illustration386 2013-01-05 21 Reuters London TENTATIVE signs emerged in December that the eurozone economy may have passed the worst of its downturn, although a recovery still looks some months away, a business survey showed yesterday. Markit’s Eurozone Composite PMI, which gauges business activity across thousandsReuters; PHOTO: AP - 386 words
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481 2013-01-05 22 Sharp rise in new business boosts Dec reading as firms remain optimistic about coming year Reuters Bangalore INDIA’S services sector grew at its strongest pace in three months during December, as company order books filled at the quickest rate since last February, aReuters - 481 words
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Article, Illustration552 2013-01-05 22 Sales of goods leap 13.7% in November after October drop Bloomberg Hong Kong HONG KONG’s luxury sales rebounded in a sign that confidence is returning to a Chinese economy that probably picked up pace in the final three months of lastBloomberg - 552 words
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Page 20 Advertisements
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Advertisement27 2013-01-05 20 JANUARY ISSUE OUT NOW! TORQUE DIGITAL EDITION IS AVAILABLE ON IPAD ANDROID! VISIT WWW.TORQUE.COM.SG FOR MORE INFO 50% OFF 1-YEAR DIGITAL SUBSCRIPTION “LIKE” US ON FACEBOOK www.tinyurl.com/torquemag27 words
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Page 22 Advertisements
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Advertisement43 2013-01-05 22 A f 3 an* WIN TICKETS CONCERT TO svv )S KX S i\l L VST TOUR 17 JAN 2013 7:30 PM SINGAPORE INDOOR STADIUM TUNE IN TO HOT FM91.3 OR LOG ON TO WWW.HOTFM.SG FOR MORE DETAILS! Midas Promotions www.midaspromotions.com HOT FH^ 343 words
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Article8372 2013-01-05 23 Transaction date: Jan 4 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 15 11.4 8Telecom 13 13.6 15 66.8 0.4 3.1 62.3 6 3 A-Sonic 3.9 -0.1 89 4.1 3.9 3.9 4.1 3.3 27.98,372 words
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Article1904 2013-01-05 26 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 $mil 21 14 t 800 Super 20.5 +0.5 243 20.5 20 20 21 3.3 4.9 6.1 36.7 4 3 t AA Grp 3.1 2.6 3.9 31,904 words
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Article186 2013-01-05 26 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 8 5 4 0 0 0 8 5 4 Manufacturing 91 46 30 19 4 7 110 50 37 Commerce 34 24 17 6 3 2 40 27 19 Tpt/Stor/Comms 23 9 9186 words
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Article121 2013-01-05 26 TURNOVER (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 73,355 73,355 55,157 55,157 Manufacturing 1,240,652 1,344,076 2,584,728 254,006 10,759 264,765 Commerce 873,673 202,887 1,076,560 163,847 8,402 172,249 Tpt/Stor/Comms 124,812 30,865 155,677 148,048 9,283 157,331 Finance 204,296 139 204,435 132,172 58 132,231 Construction 323,728 101,847121 words
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Article795 2013-01-05 26 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Dec 31 Substantial Buy No of Price ———SHAREHOLDING Trans Shareholder/ Sell Shares Per Before After Stock Date Director Conv '000 Shr ('000) ('000) Hotung Investment 2-Jan-13 Overseas Asset Mgtm *Sell 4049 0.15 ***** 4.02 ***** 3.63 LantroVision 2-Jan-13 Yeo Jiew795 words
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MARKETS
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Article79 2013-01-05 27 Jan 3 COCOA (£/tonne) Close Prev High/Low Mar 13 1433 1429 1446/1420 May 13 1442 1438 1453/1430 Jul 13 1451 1448 1465/1440 Sep 13 1460 1457 1470/1448 COFFEE(US$/tonne) Close Prev High/Low Jan 13 1995 1988 2017/1989 Mar 13 1945 1942 1969/1935 May 13 1951 1949 1974/1946 Jul 13 196079 words
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Article68 2013-01-05 27 Jan 4 GOLD(US$/oz) Jan 04 Jan 03 Hong Kong 1653.70 1697.00 Jan 03 Jan 02 London 1679.20 1689.73 1679.95 1690.57 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 36.65 36.01 Source: UOB PLATINUM Lon (US$/oz) Jan 03 Close Previous PM Fix 1572.00 1566.00 AM Fix 1569.00 1559.00 Source:68 words
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Article57 2013-01-05 27 Jan 4 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 13 2372.0 2364.0 2390.0 2346.0 345 4528 Feb 13 2438.0 2438.0 2461.0 2423.0 4651 ***** Mar 13 2478.0 2474.0 2495.0 2462.0 ***** ***** Apr 13 2517.0 2510.057 words
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Article92 2013-01-05 27 Jan 4 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****X 04-Apr-13 0.25 6-Month BS*****W 27-Jun-13 0.26 1-Year BY*****X 01-Nov-13 0.26 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0N 0.25 01-Oct-14 101.87 101.90 101.90 5-Year N*****0Z 2.37592 words
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Article154 2013-01-05 27 Jan 4 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2817 1.2831 1.0430 1.0434 Canadian dollar 1.2407 1.2420 1.0100 1.0096 Euro 1.5987 1.5998 1.3009 1.3010 NZ dollar 1.0114 1.0127 0.8230 0.8235 Sterling pound 1.9728 1.9747 1.6053 1.6058154 words
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Article, Illustration95 2013-01-05 27 As on 3 January 2013 www.smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE PRECIOUS METAL GOLD FUT FEB2013 1688.20 1675.60 1674.50 INDIA GOLD (E-GOLD) FUT FEB2013 569.80 565.90 565.40 CURRENCY EUR-USD FUT MAR2013 1.3180 1.3092 1.3118 BASE METAL COPPER FUT MAR2013 8276 8252 8194 INDEX IRON ORE (MBIO) IDX95 words
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Article103 2013-01-05 27 Jan 3 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Jan 13 1403.00 1405.50 1408.50 1386.25 Mar 13 1386.50 1392.25 1396.75 1372.50 May 13 1378.25 1384.25 1387.75 1364.25 Jul 13 1376.50 1382.00 1384.75 1362.00 SOYBEAN/OIL(60,000 lbs; USc/lb) Close Previous High/Low Jan 13 50.21 50.52 50.59 50.10103 words
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Article68 2013-01-05 27 Jan 03 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 112.46 -0.05 WTI (Near Mth) 92.73 -0.11 Dubai (1-Mth F) 106.51 0.11 Tapis blend 118.44 0.55 Minas 111.02 0.55 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 105.56 -0.27 Jet Kerosene 126.51 0.34 US$/barrel OpecOil Basket Price 108.9668 words
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Article118 2013-01-05 27 Jan 04 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.312 1.250 Can dollar 1.270 1.210 Euro 1.636 1.559 Sterling pound 2.010 1.933 NZ dollar 1.048 0.989 US dollar 1.250 1.191 Local dollars to 100 units of foreign currency: Currencies Sell118 words
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Article69 2013-01-05 27 Jan 3 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2082.50 2127.25 3 months 2116.00 2161.00 Copper, Grade A (US$/tonne) Cash 8136.50 8183.00 3 months 8164.00 8209.00 Lead (US$/tonne) Cash 2390.00 2421.50 3 months 2400.00 2431.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.0069 words
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373 2013-01-05 27 In local curr In S$ In US$ dy yr dy yr dy yr Jan 3 Index Change Change Change Change Change Change World Preliminary 959.2 0.2 2.2 0.1 2.2 0.0 2.1 EAFE Preliminary 789.3 0.3 1.9 -0.1 1.6 -0.2 1.5 Europe Preliminary 1176.0 0.4 2.5373 words
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STOCK MARKETS
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Article, Illustration20 2013-01-05 27 YTD change: +1.84% 52-week high: 3,231.39 on Jan 3,2013 52-week low: 2,683.15 on Jan 9,2012 Source: BloombergSource: Bloomberg - 20 words
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Article, Illustration20 2013-01-05 27 YTD change: +2.98% 52-week high: 23,400.74 on Jan 3,2013 52-week low: 18,056.40 on June 4,2012 Source: BloombergSource: Bloomberg - 20 words
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Article, Illustration21 2013-01-05 27 YTD change: +0.35% 52-week high: 2,478.38 on Feb 27,2012 52-week low: 1,949.46 on Dec 4,2012 Source: BloombergSource: Bloomberg - 21 words
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Article, Illustration19 2013-01-05 27 YTD change: +2.82% 52-week high: 10,734.23 on Jan 4,2013 52-week low: 8,238.96 on June 4,2012 Source: BloombergSource: Bloomberg - 19 words
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Article, Illustration26 2013-01-05 27 YTD change: +2.19% 52-week high: 13,661.87 on Oct 5,2012 52-week low: 12,035.09 on June 4,2012 (Chart shows Thursday’s index closing) Source: BloombergSource: Bloomberg - 26 words
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PERSPECTIVE
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Article, Illustration1109 2013-01-05 28 / 29 Scott Robertson - Cyber bullies are creative and imaginative and continually look for new avenues to achieve their malicious objectives. By Scott Robertson By Scott Robertson ~The writer is vice-president of WatchGuard Technologies ANZ. AS WE get more and more wired up, our kids’ playgrounds get replaced byPOSED FILE PHOTO - 1,109 words
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Article, Illustration790 2013-01-05 28 / 29 Frank Ching - Frank Ching ~The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 GORDON Chang, author of The Coming Collapse of China, famously predicted in 2001 that the Communist Party would fall from power in a decade. When 2011 came790 words
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Wealth
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WEALTH INVESTING
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Article, Illustration1745 2013-01-05 30 / 31 Equities did well, euro survived and Greek bonds rose the most, contrary to what investors forecast Bloomberg Hong Kong FROM John Paulson’s call for a collapse in Europe to Morgan Stanley’s warning that US stocks would decline, Wall Street got little right inBloomberg; PHOTO: AFP - 1,745 words
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BROKERS' TAKE
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Article380 2013-01-05 30 / 31 DBS Group Research Jan 4 REDUCED risk from the eurozone, ul-tra-loose monetary policies and green shoots of recovery will tilt the balance towards risk and cyclical plays. However, Singapore’s GDP and earnings growth pale in comparison to that of regional counterparts’ as it struggles with restructuring pains. While380 words
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Article384 2013-01-05 30 / 31 LYNN KAN - Compiled by LYNN KAN Buy Maybank Kim Eng Research Jan 4 Close $1.78 WE expect better consumer sentiment this year, especially in North Asia (mainly China, Hong Kong and Taiwan), which makes up 58 per cent of overall group sales. This is predicated on latest consumer surveys and384 words
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Article, Illustration1206 2013-01-05 32 Nicholas Larkin - Budget deficit concerns boosting demand for wealth protection. By Nicholas Larkin Bloomberg London GOLD traders expect prices to rebound from the longest weekly losing streak in eight years as mounting concern that US lawmakers are doing too little to controlBloomberg; PHOTO: REUTERS - 1,206 words
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Article, Illustration1021 2013-01-05 33 Teh Hooi Ling - Luck may play a big part, but success is determined more by skill SHOW ME THE MONEY Teh Hooi Ling hooiling@sph.com.sg Senior Correspondent ~The writer is a CFA charterholder IT IS the new year. We are all a year older. There isPHOTO: REUTERS - 1,021 words
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WEALTH REAL ESTATE
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356 2013-01-05 34 0.03% rise in prices in Dec comes amid signs of broader economic recovery Reuters Beijing AVERAGE home prices in China’s 100 major cities edged up 0.03 per cent in December from a year earlier, snapping eight months of decline and reinforcing signs ofReuters - 356 words
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Article669 2013-01-05 34 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN DEC 5 AND DEC 11, 2012 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 1 NON-LANDED V On Shenton Apt 07/12/2012 99 452 1184 2619 District 5 NON-LANDED Hundred Trees669 words
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Article, Illustration1119 2013-01-05 35 Economists expect a boost from record-low interest rates and housing shortage due to a long period of underbuilding Bloomberg Sydney AUSTRALIA’S flagging property market is poised to get a boost from record-low interest rates and a housing shortage that could boost pricesBloomberg; BLOOMBERG FILE PHOTO - 1,119 words
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Advertisement220 2013-01-05 36 X m > c D > XI CO X o c o c a > T) J3 o c D CD c “0 T) O ID —I CO O r~ O GD > TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE VALLEE DE JOUX, THE JURA. FOR MILLENIA,220 words
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Advertisement74 2013-01-05 1 LivingBTTHE BUSINESS TIMES WEEKEND JANUARY 5 6 2013 CAPITAL CUISINE Lima, the capital city of Peru, is poised to be the next big culinary nexus L2-3 PHOTO OF CEVICHE FROM LIMA GEOFFREY EU CEOS' HAWKER CHOICES 2012 Porridge the ultimate comfort food L10-12 SHOPPING Ace it with Silit cookware L14-1574 words
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BT Living
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DESTINATION DINING
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Article, Illustration2272 2013-01-05 2 / 3 Geoffrey Eu - Lima is home to the most creative chefs in Peru, arguably the Next Big Place on the global dining scene. By Geoffrey Eu By Geoffrey Eu IT may be on the other side of the planet and over 30 hours by plane from Singapore, but there arePHOTOS: GEOFFREY EU; PHOTOS: MUSUK NOLTE, ERICK ANDIA; PHOTOS: ASTRID Y GASTON, GEOFFREY EU - 2,272 words
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TRAVEL
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Article, Illustration1317 2013-01-05 4 / 5 Geoffrey Eu - Shrouded in mist, myth and mystery is the citadel of Machu Picchu, which will take your breath away even before the altitude does. By Geoffrey Eu By Geoffrey Eu btnews@sph.com.sg ATRIP to the highlands of Peru is framed by the beauty of nature, the legacy of thePHOTOS: GEOFFREY EU - 1,317 words
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Article, Illustration944 2013-01-05 9 Adam Pervez - LETTER FROM LAOS Adam Pervez Chief Happiness Officer, Happinessplunge.com ~The author is a former corporate executive of Schlumberger and Siemens who has embarked on a new career of doing volunteer work around the world THE administrator from the Sunshine School in rural Laos could notPHOTOS: ADAM PERVEZ - 944 words
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LIVING
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Article, Illustration2744 2013-01-05 6 / 7 Tay Suan Chiang - Save the environment by upcycling the process of converting wastebound materials into unique lifestyle products. By Tay Suan Chiang By Tay Suan Chiang taysc@sph.com.sg NEW Year, new beginnings? It is no wonder that the start of the year often marks a time when people clear out unwanted itemsALL PHOTOS OF ARTSYFACT BY ARTHUR LEE; ALL PHOTOS OF PATCH MAGIC BY ARTHUR LEE; ALL PHOTOS OF SUSTAINABLE LIVING LAB BY YEN MENG JIIN - 2,744 words
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CEOS' HAWKER CHOICES 2012
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Article, Illustration3123 2013-01-05 10 / 11 Natalie Koh; Geoffrey Eu; Tan Teck Heng; Tay Suan Chiang - Whether for breakfast, lunch, dinner or supper, porridge is a popular street food for those who are a little more health conscious when it comes to hawker fare. Served in a variety of ways, it's the perfect comfort food for both the young and old. HereALL PHOTOS BY YEN MENG JIIN; PHOTOS: YEN MENG JIIN; PHOTO: YEN MENG JIIN - 3,123 words
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GADGETS
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Article, Illustration644 2013-01-05 13 Christopher Lim - Most brands are saving their biggest gadget announcements for the International Consumer Electronics Show in Las Vegas next week (Jan 8-11), but some have released teasers to avoid getting deluged in the unveilings. By Christopher Lim By Christopher Lim limchris@sph.com.sg LG Touch 10 monitor (Price644 words
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SHOPPING
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Article, Illustration1150 2013-01-05 14 / 15 Corinne Kerk - Silit is known for its quality, functionality and design and now makes its most comprehensive range of cookware in a selection of delectable colours. By Corinne Kerk btnews@sph.com.sg IN a world where cheaper alternatives can be found for every piece of cookware, Silit’s glossy productPHOTOS: - 1,150 words
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Article, Illustration510 2013-01-05 14 / 15 Corinne Kerk - By Corinne Kerk JUST like a good spy movie, the secret formula to the exclusive Silargan material used for making Silit’s pots and pans are known only to a few. While it was rumoured that only two Silit staffers know it –a littlePHOTO: SILIT-WERKE GMBH & CO KG - 510 words
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SPORT
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Article, Illustration927 2013-01-05 16 Lee U-Wen - no holds barred Lee U-Wen leeuwen@sph.com.sg Correspondent THE sporting gods were more than kind over the last 12 months, showering fans with more memorable moments than we could handle. Like trying to make a sequel to last summer’s blockbuster film, sports in 2013 hasPHOTO: ZAINAL YAHYA/ BERITA HARIAN; PHOTO: AFP; PHOTOS: AP, FILE PHOTO - 927 words
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GOLF
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Article, Illustration826 2013-01-05 17 He is now seen as a hero after hanging on to win the tournament despite suffering from a panic attack NYT KAPALUA, Hawaii SCANNING the sumptuous breakfast buffet, the golfer Charlie Beljan looked like any other hotel guest in his shorts, flip-flops and T-shirt with a “hangNYT; PHOTO: AP - 826 words
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MOTORING
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Article, Illustration533 2013-01-05 18 Samuel Ee - The new Chrysler 300C boasts a more refined look and remarkably comfortable drive. By Samuel Ee samuelee@sph.com.sg THE new Chrysler 300C is a headturner. This long, large sedan attracts more than its usual share of curious looks. But whether people stare because they think it’s a533 words
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Article, Illustration471 2013-01-05 19 Samuel Ee - The LS460 with its reworked 4.6-litre V8 engine promises to be even quieter and more refined. By Samuel Ee By Samuel Ee samuelee@sph.com.sg The 2013 LS’s climate concierge makes use of multiple sensors to coordinate the control of independent heating and cooling systems and deliver maximum471 words
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Article, Illustration709 2013-01-05 20 CY Chew - The X6 M50d, X5 M50d and the M135i are a new range in between the regular BMW and the motorsport-inspired BMW M cars. By CY Chew By CY Chew btnews@sph.com.sg BMW’s M cars need no introduction they are the most powerful, hard-core and more often than not,709 words
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Advertisement54 2013-01-05 10 / 11 IN YOUR CORNER AT EVERY CORNER Knight Frank Knight Frank’s Retail Team provides services encompassing retail consultancy planning, retail marketing and shopping centre management. Call Knight Frank Retail Team at 6222 1333 for the full suite of retail services. CORPORATE SERVICES > RESIDENTIAL > RETAIL > OFFICE > INDUSTRIAL >54 words
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Advertisement30 2013-01-05 14 / 15 HOME NEE S Get comfortable on a new sofa. To find out more, turn to CLASS 108 in CATS Classified in The Straits Times now. WATS BUY IT-SELL IT-FIND IT30 words
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Advertisement829 2013-01-05 14 / 15 wine&dine with BTWeekend Peach Blossoms Level 5, Marina Mandarin Singapore 6 Raffles Boulevard Z6845 1118 Luscious Abalone Jan 1 to 31, 2013 Savour tantalising abalones skilfully presented by Chinese Executive Chef Chan Shun Wong using only quality abalones from Australia, Mexico and South Africa. Don’t miss his specialities such as829 words
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